Unichem Laboratories Ltd. - Annual Report 2021

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May 29, 2021

Department of Corporate Services Mr. Hari K

Bombay Stock Exchange Ltd. Asst. Vice President - Operations Phiroze Jeejeebhoy Towers National Stock Exchange of India Ltd Dalal Street, Exchange Plaza, Bandra – Kurla Complex Mumbai- 400 001 Bandra (East), Mumbai – 400 051

Dear Sir,

Ref: BSE Scrip Code -506690: NSE Symbol – UNICHEMLAB

Sub: Outcome of Board Meeting

We would like to inform you that Board of Directors at its Meeting held today, i.e. Saturday, May 29, 2021:

Approved the unaudited financial results (standalone and consolidated) for the quarter ended March 31, 2021.
Approved the audited financial results (standalone and consolidated) for the year ended March 31, 2021.
Recommended Dividend of Rs.4 /(200%) per equity share of Rs.2/- each, for the year ended March 31, 2021, subject to approval of shareholders at the ensuing Annual General Meeting.

Enclosed herewith please find:-

a. Unaudited financial results (Standalone and Consolidated ) for the quarter ended March 31, 2021 and Audited (Standalone and Consolidated) for the year ended March 31, 2021 and the Auditors Reports thereon;
b. Declaration to the effect that the Report of the Auditors is with unmodified opinion with respect to the audited financial Results (Standalone and Consolidated) for the quarter and year ended March 31, 2021.

The Board meeting commenced at 12:00 noon and concluded at 2:00 p.m.

Kindly take the same on your records.

Thanking you,

FOR UNICHEM LABORATORIES LIMITED

PRADEEP Digitally signed by PRADEEP BHANDARI BHANDARI Date: 2021.05.29 14:12:13 +05'30' Pradeep Bhandari Head- Legal & Company Secretary Encl: a/a

Registered Office: Unichem Bhavan, Prabhat Estate, Off S. V. Road Jogeshwari (West), Mumbai – 400 102, Maharashtra, India.

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May 29, 2021

Department of Corporate Services Mr. Hari K

Bombay Stock Exchange Ltd. Asst. Vice President - Operations

Phiroze Jeejeebhoy Towers National Stock Exchange of India Ltd

Dalal Street, Exchange Plaza, Bandra – Kurla Complex Mumbai- 400 001 Bandra (East), Mumbai – 400 051 Dear Sirs,

Ref: BSE Scrip Code -506690: NSE Symbol – UNICHEMLAB

Sub: Declaration with respect to audit report with unmodified opinion on the unaudited financial results (standalone and consolidated) for the quarter ended March 31, 2021 and audited (standalone and consolidated) for the year ended March 31, 2021.

We hereby declare that unaudited financial results(standalone & consolidated) for the quarter ended March 31, 2021 and the audited financial results (standalone and consolidated) for the year ended March 31, 2021, have been approved by the Board of Directors of the Company at their meeting held today, i.e. Saturday, May 29, 2021. The statutory auditors of the Company have not expressed any modified opinion(s) in their audit report.

However, we request you to take note of the Emphasis of Matter paragraph given by the auditors in their report on the standalone and consolidated results, which is as under:

We draw attention to note 6 of the Statement, which informs that the General Court of the European Union had on 12th December, 2018 rejected the appeal and confirmed the fine of Euro 13.96 Million (equivalent to Rs. 12,044.69 lakhs) imposed by the European Commission jointly and severally on the Company and its subsidiary (Niche Generics Limited, UK). The Company and its subsidiary based on legal advice and merits, have filed appeals against the decision of General Court before the Court of Justice of the European Union and outcome of the appeals are awaited. Considering the above, in view of the management, no provision for the aforesaid fine is considered necessary. This matter was also reported earlier under ‘Emphasis of Matter’ paragraph in our audit reports on the standalone financial statements for the year ended 31st March, 2019 and 31st March, 2020 and consolidated financial statements for the year ended 31st March, 2018, 31st March, 2019 and 31st March, 2020 as well as in our limited review reports on quarterly standalone financial results from December 2018 onwards and consolidated financial results from June 2019 onwards. Our opinion is not modified in respect of above matter.

Kindly take the same on your records.

Thanking you,

FOR UNICHEM LABORATORIES LIMITED

PRADEEP Digitally signed by PRADEEP BHANDARI BHANDARI Date: 2021.05.29 14:13:09 +05'30'

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Pradeep Bhandari Head- Legal & Company Secretary

Registered Office: Unichem Bhavan, Prabhat Estate, Off S. V. Road Jogeshwari (West), Mumbai – 400 102, Maharashtra, India.

UNICHEM LABORATORIES LIMITED CIN: L99999MH1962PLC012451

Statement of Unaudited Standalone Financial Results for the Quarter & Audited Financial Results for the year ended 31st March, 2021.

UNICHEM LABORATORIES LIMITED CIN: L99999MH1962PLC012451 Statement of Unaudited Standalone Financial Results for the Quarter & Audited Financial Results for the year ended 31st March, 2021.	UNICHEM LABORATORIES LIMITED CIN: L99999MH1962PLC012451 Statement of Unaudited Standalone Financial Results for the Quarter & Audited Financial Results for the year ended 31st March, 2021.	UNICHEM LABORATORIES LIMITED CIN: L99999MH1962PLC012451 Statement of Unaudited Standalone Financial Results for the Quarter & Audited Financial Results for the year ended 31st March, 2021.	UNICHEM LABORATORIES LIMITED CIN: L99999MH1962PLC012451 Statement of Unaudited Standalone Financial Results for the Quarter & Audited Financial Results for the year ended 31st March, 2021.	UNICHEM LABORATORIES LIMITED CIN: L99999MH1962PLC012451 Statement of Unaudited Standalone Financial Results for the Quarter & Audited Financial Results for the year ended 31st March, 2021.	UNICHEM LABORATORIES LIMITED CIN: L99999MH1962PLC012451 Statement of Unaudited Standalone Financial Results for the Quarter & Audited Financial Results for the year ended 31st March, 2021.
	₹ Lakhs
Particulars	Quarter ended 31st Mar'21 (Unaudited)	Quarter ended 31st Dec'20 (Unaudited)	Quarter ended 31st Mar'20 (Unaudited)	Year ended 31st Mar'21 (Audited)	Year ended 31st Mar'20 (Audited)
I II Revenue from operations Other income	26,108.65 490.56	31,118.33 1,332.44	21,562.69 1,912.91	1,12,397.28 4,737.11	90,444.07 9,917.01
III Total income (I+II)	26,599.21	32,450.77	23,475.60	1,17,134.39	1,00,361.08
IV EXPENSES Changes in inventories of finished goods and work-in-progress Employee benefits expense Finance costs Depreciation and amortization expense Other expenses Purchase of stock-in-trade Cost of materials consumed (including provisions)	10,548.44 5.35 (2,922.89) 5,749.04 37.00 1,990.29 9,949.31	10,817.48 16.06 1,767.33 6,013.39 60.89 1,874.96 9,340.01	8,631.27 38.45 (664.67) 5,335.14 58.52 1,911.23 9,320.13	44,913.87 53.52 (1,672.68) 23,403.73 130.06 7,589.18 36,152.16	40,020.76 104.37 (1,849.58) 20,515.66 128.18 7,108.96 40,713.91
Total expenses(IV)	25,356.54	29,890.12	24,630.07	1,10,569.84	1,06,742.26
V VI Profit / (loss) before exceptional items and tax (III- IV) Exceptional items	1,242.67 -	2,560.65 -	(1,154.47) -	6,564.55 -	(6,381.18) -
VII Profit /(loss) before tax(V-VI)	1,242.67	2,560.65	(1,154.47)	6,564.55	(6,381.18)
VIII (1) Current tax (Refer note 4) (2) Deferred tax charge / (credit) (Refer note 5) (3) Short / (excess) provision for tax (earlier years) Tax expense	- 1,094.30 62.02	(482.00) - -	- - -	- 1,094.30 62.02	- (749.56) -
	1,156.32	(482.00)	-	1,156.32	(749.56)
IX Profit / (loss) for the period after tax (VII-VIII)	86.35	3,042.65	(1,154.47)	5,408.23	(5,631.62)
X A. (i) Items that will not be reclassified subsequently to profit or loss - Remeasurement of the net defined benefit plan - Equity instruments through other comprehensive income (ii) Income tax (expense) / credit relating to items that will not be reclassified to profit or loss - Remeasurement of the net defined benefit plan - Equity instruments through other comprehensive income (net) B. (i) Items that will be reclassified to profit or loss (ii) Income tax relating to items that will be reclassified to profit or loss Other Comprehensive Income / (Loss)	149.01 2,504.10 24.58 (300.51) - -	(88.59) - - - - -	(0.72) 444.10 - - - -	(97.68) 2,504.10 24.58 (300.51) - -	(144.60) 444.10 - - - -
Total of Other Comprehensive Income /(Loss)	2,377.18	(88.59)	443.38	2,130.49	299.50
XI Total Comprehensive Income for the period (IX+X)	2,463.53	2,954.06	(711.09)	7,538.72	(5,332.12)
XII XIII Paid-up equity share capital (Face value of ₹ 2/- per share) Other Equity (Reserves excludingrevaluation reserve)	1,408.12	1,408.12	1,408.12	1,408.12 2,68,325.35	1,408.12 2,63,310.26
XIV (1) Basic (2) Diluted Earnings per equity share (Face value of ₹ 2/- per share) (not annualised)	0.12 0.12	4.32 4.32	(1.65) (1.65)	7.68 7.68	(8.00) (8.00)
Notes : 1 2 3 4 The above standalone financial results have been prepared in accordance with the guidelines issued by the Securities and Exchange Board of India ("SEBI") and the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013. Operating Segment : The Company has a single reportable segment i.e. 'Pharmaceuticals'. During the quarter ended 31st December, 2020, the Company had decided to opt for new tax regime for the financial year 2020-2021. Considering brought forward tax loss, no tax is payable under the new tax regime. Consequently, provision for current tax made in accordance with Section 115JB of the Income- tax Act, 1961 under old regime during the quarter and half year ended 30th September, 2020 was reversed during the quarter ended 31st December, 2020. The above standalone financial results for the quarter and year ended 31st March, 2021 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on 29th May, 2021. The statutory auditors have expressed an unqualified audit opinion on these standalone financial results for the year ended 31st March, 2021.

Notes :

1 The above standalone financial results for the quarter and year ended 31st March, 2021 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on 29th May, 2021. The statutory auditors have expressed an unqualified audit opinion on these standalone financial results for the year ended 31st March, 2021.

2 The above standalone financial results have been prepared in accordance with the guidelines issued by the Securities and Exchange Board of India ("SEBI") and the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013.
3 Operating Segment : The Company has a single reportable segment i.e. 'Pharmaceuticals'.

4 During the quarter ended 31st December, 2020, the Company had decided to opt for new tax regime for the financial year 2020-2021. Considering brought forward tax loss, no tax is payable under the new tax regime. Consequently, provision for current tax made in accordance with Section 115JB of the Incometax Act, 1961 under old regime during the quarter and half year ended 30th September, 2020 was reversed during the quarter ended 31st December, 2020.

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₹ Lakhs For the quarter and year ended 31st March 2021, deferred tax liability exceeds the deferred tax assets (including assets in respect of brought forward losses and depreciation) in accordance with the new tax regime. Upto 31st December, 2020, deferred tax assets was recognised on the amount of tax loss, unabsorbed tax depreciation and other temporary differences upto the extent of deferred tax liability. On 9th July, 2014, the European Commission (“EU”) decided to impose an unjustified fine of Euro 13.96 million, jointly and severally on the Company and its subsidiary Niche Generics Ltd (“Niche”) contending that they had acted in breach of EU competition law as Niche Generics Ltd had, in early 2005 (when the Company was only a part owner and financial investor in Niche) had agreed to settle a financially crippling patent litigation with Laboratories Servier. The Company vehemently denies any wrongdoing on the part of either itself or Niche. Both the Company & Niche had submitted appeals in September 2014 to the General Court of the EU seeking appropriate relief in the matter. The General Court of the EU has rejected the appeals vide Order dated 12th December 2018 and confirmed the fine of Euro 13.96 million. The Company and its subsidiary based on legal advice and merits, have filed appeals against the decision of General Court before the Court of Justice of the EU and outcome of the appeals are awaited. Considering the above, in view of the management, no provision for the aforesaid fine is considered necessary. Based on above, fine imposed by the EU of Euro 13.96 million (equivalent to ₹ 12,044.69 lakhs) is disclosed under contingent liability. The statutory auditors have given Emphasis of Matter in their audit report on standalone and consolidated financial results for the year ended 31st March, 2021 and in earlier reports. The COVID 19 pandemic has adversely impacted the global economic conditions and its impact still remains uncertain. Considering the Company is in the business of manufacturing and supplying pharmaceutical products which is categorized under essential goods, the management believes that the impact of the pandemic may not be significant. The Company will continue to closely monitor any material changes to future economic conditions. Subsequent to year ended 31st March, 2021, the Company has invested USD 1,00,000 (equivalent to ₹ 75.26 lakhs) towards equity in wholly owned subsidiary - "Unichem (China) Pvt. Ltd". The Board recommends a final dividend of ₹ 4/- per share (200 %) (face value of ₹ 2/- per share) for the year ended 31st March, 2021. The payment is subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company. The final dividend declared in the previous year and paid during the current year was ₹ 4/- per share (200%). The aggregate amount of revenue expenditure incurred on Research and Development (R&D) as included in the relevant expense heads is as tabulated below:	₹ Lakhs For the quarter and year ended 31st March 2021, deferred tax liability exceeds the deferred tax assets (including assets in respect of brought forward losses and depreciation) in accordance with the new tax regime. Upto 31st December, 2020, deferred tax assets was recognised on the amount of tax loss, unabsorbed tax depreciation and other temporary differences upto the extent of deferred tax liability. On 9th July, 2014, the European Commission (“EU”) decided to impose an unjustified fine of Euro 13.96 million, jointly and severally on the Company and its subsidiary Niche Generics Ltd (“Niche”) contending that they had acted in breach of EU competition law as Niche Generics Ltd had, in early 2005 (when the Company was only a part owner and financial investor in Niche) had agreed to settle a financially crippling patent litigation with Laboratories Servier. The Company vehemently denies any wrongdoing on the part of either itself or Niche. Both the Company & Niche had submitted appeals in September 2014 to the General Court of the EU seeking appropriate relief in the matter. The General Court of the EU has rejected the appeals vide Order dated 12th December 2018 and confirmed the fine of Euro 13.96 million. The Company and its subsidiary based on legal advice and merits, have filed appeals against the decision of General Court before the Court of Justice of the EU and outcome of the appeals are awaited. Considering the above, in view of the management, no provision for the aforesaid fine is considered necessary. Based on above, fine imposed by the EU of Euro 13.96 million (equivalent to ₹ 12,044.69 lakhs) is disclosed under contingent liability. The statutory auditors have given Emphasis of Matter in their audit report on standalone and consolidated financial results for the year ended 31st March, 2021 and in earlier reports. The COVID 19 pandemic has adversely impacted the global economic conditions and its impact still remains uncertain. Considering the Company is in the business of manufacturing and supplying pharmaceutical products which is categorized under essential goods, the management believes that the impact of the pandemic may not be significant. The Company will continue to closely monitor any material changes to future economic conditions. Subsequent to year ended 31st March, 2021, the Company has invested USD 1,00,000 (equivalent to ₹ 75.26 lakhs) towards equity in wholly owned subsidiary - "Unichem (China) Pvt. Ltd". The Board recommends a final dividend of ₹ 4/- per share (200 %) (face value of ₹ 2/- per share) for the year ended 31st March, 2021. The payment is subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company. The final dividend declared in the previous year and paid during the current year was ₹ 4/- per share (200%). The aggregate amount of revenue expenditure incurred on Research and Development (R&D) as included in the relevant expense heads is as tabulated below:	₹ Lakhs For the quarter and year ended 31st March 2021, deferred tax liability exceeds the deferred tax assets (including assets in respect of brought forward losses and depreciation) in accordance with the new tax regime. Upto 31st December, 2020, deferred tax assets was recognised on the amount of tax loss, unabsorbed tax depreciation and other temporary differences upto the extent of deferred tax liability. On 9th July, 2014, the European Commission (“EU”) decided to impose an unjustified fine of Euro 13.96 million, jointly and severally on the Company and its subsidiary Niche Generics Ltd (“Niche”) contending that they had acted in breach of EU competition law as Niche Generics Ltd had, in early 2005 (when the Company was only a part owner and financial investor in Niche) had agreed to settle a financially crippling patent litigation with Laboratories Servier. The Company vehemently denies any wrongdoing on the part of either itself or Niche. Both the Company & Niche had submitted appeals in September 2014 to the General Court of the EU seeking appropriate relief in the matter. The General Court of the EU has rejected the appeals vide Order dated 12th December 2018 and confirmed the fine of Euro 13.96 million. The Company and its subsidiary based on legal advice and merits, have filed appeals against the decision of General Court before the Court of Justice of the EU and outcome of the appeals are awaited. Considering the above, in view of the management, no provision for the aforesaid fine is considered necessary. Based on above, fine imposed by the EU of Euro 13.96 million (equivalent to ₹ 12,044.69 lakhs) is disclosed under contingent liability. The statutory auditors have given Emphasis of Matter in their audit report on standalone and consolidated financial results for the year ended 31st March, 2021 and in earlier reports. The COVID 19 pandemic has adversely impacted the global economic conditions and its impact still remains uncertain. Considering the Company is in the business of manufacturing and supplying pharmaceutical products which is categorized under essential goods, the management believes that the impact of the pandemic may not be significant. The Company will continue to closely monitor any material changes to future economic conditions. Subsequent to year ended 31st March, 2021, the Company has invested USD 1,00,000 (equivalent to ₹ 75.26 lakhs) towards equity in wholly owned subsidiary - "Unichem (China) Pvt. Ltd". The Board recommends a final dividend of ₹ 4/- per share (200 %) (face value of ₹ 2/- per share) for the year ended 31st March, 2021. The payment is subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company. The final dividend declared in the previous year and paid during the current year was ₹ 4/- per share (200%). The aggregate amount of revenue expenditure incurred on Research and Development (R&D) as included in the relevant expense heads is as tabulated below:	₹ Lakhs For the quarter and year ended 31st March 2021, deferred tax liability exceeds the deferred tax assets (including assets in respect of brought forward losses and depreciation) in accordance with the new tax regime. Upto 31st December, 2020, deferred tax assets was recognised on the amount of tax loss, unabsorbed tax depreciation and other temporary differences upto the extent of deferred tax liability. On 9th July, 2014, the European Commission (“EU”) decided to impose an unjustified fine of Euro 13.96 million, jointly and severally on the Company and its subsidiary Niche Generics Ltd (“Niche”) contending that they had acted in breach of EU competition law as Niche Generics Ltd had, in early 2005 (when the Company was only a part owner and financial investor in Niche) had agreed to settle a financially crippling patent litigation with Laboratories Servier. The Company vehemently denies any wrongdoing on the part of either itself or Niche. Both the Company & Niche had submitted appeals in September 2014 to the General Court of the EU seeking appropriate relief in the matter. The General Court of the EU has rejected the appeals vide Order dated 12th December 2018 and confirmed the fine of Euro 13.96 million. The Company and its subsidiary based on legal advice and merits, have filed appeals against the decision of General Court before the Court of Justice of the EU and outcome of the appeals are awaited. Considering the above, in view of the management, no provision for the aforesaid fine is considered necessary. Based on above, fine imposed by the EU of Euro 13.96 million (equivalent to ₹ 12,044.69 lakhs) is disclosed under contingent liability. The statutory auditors have given Emphasis of Matter in their audit report on standalone and consolidated financial results for the year ended 31st March, 2021 and in earlier reports. The COVID 19 pandemic has adversely impacted the global economic conditions and its impact still remains uncertain. Considering the Company is in the business of manufacturing and supplying pharmaceutical products which is categorized under essential goods, the management believes that the impact of the pandemic may not be significant. The Company will continue to closely monitor any material changes to future economic conditions. Subsequent to year ended 31st March, 2021, the Company has invested USD 1,00,000 (equivalent to ₹ 75.26 lakhs) towards equity in wholly owned subsidiary - "Unichem (China) Pvt. Ltd". The Board recommends a final dividend of ₹ 4/- per share (200 %) (face value of ₹ 2/- per share) for the year ended 31st March, 2021. The payment is subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company. The final dividend declared in the previous year and paid during the current year was ₹ 4/- per share (200%). The aggregate amount of revenue expenditure incurred on Research and Development (R&D) as included in the relevant expense heads is as tabulated below:	₹ Lakhs For the quarter and year ended 31st March 2021, deferred tax liability exceeds the deferred tax assets (including assets in respect of brought forward losses and depreciation) in accordance with the new tax regime. Upto 31st December, 2020, deferred tax assets was recognised on the amount of tax loss, unabsorbed tax depreciation and other temporary differences upto the extent of deferred tax liability. On 9th July, 2014, the European Commission (“EU”) decided to impose an unjustified fine of Euro 13.96 million, jointly and severally on the Company and its subsidiary Niche Generics Ltd (“Niche”) contending that they had acted in breach of EU competition law as Niche Generics Ltd had, in early 2005 (when the Company was only a part owner and financial investor in Niche) had agreed to settle a financially crippling patent litigation with Laboratories Servier. The Company vehemently denies any wrongdoing on the part of either itself or Niche. Both the Company & Niche had submitted appeals in September 2014 to the General Court of the EU seeking appropriate relief in the matter. The General Court of the EU has rejected the appeals vide Order dated 12th December 2018 and confirmed the fine of Euro 13.96 million. The Company and its subsidiary based on legal advice and merits, have filed appeals against the decision of General Court before the Court of Justice of the EU and outcome of the appeals are awaited. Considering the above, in view of the management, no provision for the aforesaid fine is considered necessary. Based on above, fine imposed by the EU of Euro 13.96 million (equivalent to ₹ 12,044.69 lakhs) is disclosed under contingent liability. The statutory auditors have given Emphasis of Matter in their audit report on standalone and consolidated financial results for the year ended 31st March, 2021 and in earlier reports. The COVID 19 pandemic has adversely impacted the global economic conditions and its impact still remains uncertain. Considering the Company is in the business of manufacturing and supplying pharmaceutical products which is categorized under essential goods, the management believes that the impact of the pandemic may not be significant. The Company will continue to closely monitor any material changes to future economic conditions. Subsequent to year ended 31st March, 2021, the Company has invested USD 1,00,000 (equivalent to ₹ 75.26 lakhs) towards equity in wholly owned subsidiary - "Unichem (China) Pvt. Ltd". The Board recommends a final dividend of ₹ 4/- per share (200 %) (face value of ₹ 2/- per share) for the year ended 31st March, 2021. The payment is subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company. The final dividend declared in the previous year and paid during the current year was ₹ 4/- per share (200%). The aggregate amount of revenue expenditure incurred on Research and Development (R&D) as included in the relevant expense heads is as tabulated below:	₹ Lakhs For the quarter and year ended 31st March 2021, deferred tax liability exceeds the deferred tax assets (including assets in respect of brought forward losses and depreciation) in accordance with the new tax regime. Upto 31st December, 2020, deferred tax assets was recognised on the amount of tax loss, unabsorbed tax depreciation and other temporary differences upto the extent of deferred tax liability. On 9th July, 2014, the European Commission (“EU”) decided to impose an unjustified fine of Euro 13.96 million, jointly and severally on the Company and its subsidiary Niche Generics Ltd (“Niche”) contending that they had acted in breach of EU competition law as Niche Generics Ltd had, in early 2005 (when the Company was only a part owner and financial investor in Niche) had agreed to settle a financially crippling patent litigation with Laboratories Servier. The Company vehemently denies any wrongdoing on the part of either itself or Niche. Both the Company & Niche had submitted appeals in September 2014 to the General Court of the EU seeking appropriate relief in the matter. The General Court of the EU has rejected the appeals vide Order dated 12th December 2018 and confirmed the fine of Euro 13.96 million. The Company and its subsidiary based on legal advice and merits, have filed appeals against the decision of General Court before the Court of Justice of the EU and outcome of the appeals are awaited. Considering the above, in view of the management, no provision for the aforesaid fine is considered necessary. Based on above, fine imposed by the EU of Euro 13.96 million (equivalent to ₹ 12,044.69 lakhs) is disclosed under contingent liability. The statutory auditors have given Emphasis of Matter in their audit report on standalone and consolidated financial results for the year ended 31st March, 2021 and in earlier reports. The COVID 19 pandemic has adversely impacted the global economic conditions and its impact still remains uncertain. Considering the Company is in the business of manufacturing and supplying pharmaceutical products which is categorized under essential goods, the management believes that the impact of the pandemic may not be significant. The Company will continue to closely monitor any material changes to future economic conditions. Subsequent to year ended 31st March, 2021, the Company has invested USD 1,00,000 (equivalent to ₹ 75.26 lakhs) towards equity in wholly owned subsidiary - "Unichem (China) Pvt. Ltd". The Board recommends a final dividend of ₹ 4/- per share (200 %) (face value of ₹ 2/- per share) for the year ended 31st March, 2021. The payment is subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company. The final dividend declared in the previous year and paid during the current year was ₹ 4/- per share (200%). The aggregate amount of revenue expenditure incurred on Research and Development (R&D) as included in the relevant expense heads is as tabulated below:	₹ Lakhs For the quarter and year ended 31st March 2021, deferred tax liability exceeds the deferred tax assets (including assets in respect of brought forward losses and depreciation) in accordance with the new tax regime. Upto 31st December, 2020, deferred tax assets was recognised on the amount of tax loss, unabsorbed tax depreciation and other temporary differences upto the extent of deferred tax liability. On 9th July, 2014, the European Commission (“EU”) decided to impose an unjustified fine of Euro 13.96 million, jointly and severally on the Company and its subsidiary Niche Generics Ltd (“Niche”) contending that they had acted in breach of EU competition law as Niche Generics Ltd had, in early 2005 (when the Company was only a part owner and financial investor in Niche) had agreed to settle a financially crippling patent litigation with Laboratories Servier. The Company vehemently denies any wrongdoing on the part of either itself or Niche. Both the Company & Niche had submitted appeals in September 2014 to the General Court of the EU seeking appropriate relief in the matter. The General Court of the EU has rejected the appeals vide Order dated 12th December 2018 and confirmed the fine of Euro 13.96 million. The Company and its subsidiary based on legal advice and merits, have filed appeals against the decision of General Court before the Court of Justice of the EU and outcome of the appeals are awaited. Considering the above, in view of the management, no provision for the aforesaid fine is considered necessary. Based on above, fine imposed by the EU of Euro 13.96 million (equivalent to ₹ 12,044.69 lakhs) is disclosed under contingent liability. The statutory auditors have given Emphasis of Matter in their audit report on standalone and consolidated financial results for the year ended 31st March, 2021 and in earlier reports. The COVID 19 pandemic has adversely impacted the global economic conditions and its impact still remains uncertain. Considering the Company is in the business of manufacturing and supplying pharmaceutical products which is categorized under essential goods, the management believes that the impact of the pandemic may not be significant. The Company will continue to closely monitor any material changes to future economic conditions. Subsequent to year ended 31st March, 2021, the Company has invested USD 1,00,000 (equivalent to ₹ 75.26 lakhs) towards equity in wholly owned subsidiary - "Unichem (China) Pvt. Ltd". The Board recommends a final dividend of ₹ 4/- per share (200 %) (face value of ₹ 2/- per share) for the year ended 31st March, 2021. The payment is subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company. The final dividend declared in the previous year and paid during the current year was ₹ 4/- per share (200%). The aggregate amount of revenue expenditure incurred on Research and Development (R&D) as included in the relevant expense heads is as tabulated below:
Particulars		Quarter ended 31st Mar'21	Quarter ended 31st Dec'20	Quarter ended 31st Mar'20	Year ended 31st Mar'21	Year ended 31st Mar' 20
Total R&D expenditure		3,632.35	3,657.68	3,127.15	12,990.81	15,640.75
Statement of Standalone Assets and Liabilities: Particulars I. ASSETS Non-current assets (a) Property, plant and equipment (b) Right of use assets (c) Capital work-in-progress (d) Investment property (e) Other intangible assets (f) Financial assets (i) Investments (ii) Loans (iii) Other financial assets (g) Other non-current assets Current assets (a) Inventories (b) Financial assets (i) Investments (ii) Trade receivables (iii) Cash and bank balances Cash & cash equivalents		₹ Lakhs As at 31st Mar,2021 As at 31st Mar,2020 Audited Audited 81,637.22 79,615.13 2,985.65 2,878.65 56,773.16 33,083.54 353.28 359.59 - - 28,399.04 24,917.28 7.28 7.95 1,026.33 1,003.35 10,187.11 10,176.48 1,81,369.07 1,52,041.97 38,611.65 31,556.80 23,642.92 41,910.22 36,048.49 32,309.79 5,259.86 20,307.86
	Particulars	As at 31st Mar,2021	As at 31st Mar,2020
	I. ASSETS Non-current assets (a) Property, plant and equipment (b) Right of use assets (c) Capital work-in-progress (d) Investment property (e) Other intangible assets (f) Financial assets (i) Investments (ii) Loans (iii) Other financial assets (g) Other non-current assets Current assets (a) Inventories (b) Financial assets (i) Investments (ii) Trade receivables (iii) Cash and bank balances Cash & cash equivalents	Audited	Audited
		81,637.22 2,985.65 56,773.16 353.28 - 28,399.04 7.28 1,026.33 10,187.11	79,615.13 2,878.65 33,083.54 359.59 - 24,917.28 7.95 1,003.35 10,176.48
		1,81,369.07	1,52,041.97
		38,611.65 23,642.92 36,048.49 5,259.86	31,556.80 41,910.22 32,309.79 20,307.86

Other bank balances (iv) Loans (v) Other financial assets (c) Other current assets	498.78 4.47 919.82 25,550.67	229.21 4.40 1,532.97 22,620.23	₹ Lakhs (6,381.18) 7,115.27 187.83 (1,263.07) (44.43) (93.11) 128.18 (35.25) 173.61 (2,735.30) (3,852.96) (39.70) (157.64) (616.57) Year ended 31st March, 2020 (Audited)
	1,30,536.66	1,50,471.48
TOTAL ASSETS	3,11,905.73	3,02,513.45
II. EQUITY AND LIABILITIES Equity (a) Equity share capital (b) Other equity Liabilities Non-current liabilities (a) Financial liabilities (i) Lease liabilities (b) Provisions (c) Deferred tax liabilities (net) (d) Other non-current liabilities Current liabilities (a) Financial liabilities (i) Borrowings (ii) Trade payables Total outstanding dues of micro enterprises and small enterprises Total outstanding dues of creditors other than micro enterprises and small enterprises (iii) Lease liabilities (iv) Other financial liabilities (b) Other current liabilities (c) Provisions	1,408.12 2,68,325.35	1,408.12 2,63,310.26
	2,69,733.47	2,64,718.38
	146.16 3,041.36 1,370.22 469.21	148.00 2,351.21 - 469.21
	5,026.95	2,968.42
	- 631.27 18,225.56 1.84 11,567.20 5,236.84 1,482.60	1,521.41 247.91 20,574.25 1.72 7,119.37 4,381.19 980.80
	37,145.31	34,826.65
TOTAL EQUITY AND LIABILITIES	3,11,905.73	3,02,513.45
Statement of Standalone Cash flows:
Particulars	Year ended 31st March, 2021 (Audited)		Year ended 31st March, 2020 (Audited)
A.Cash Flow from Operating Activities Net Profit / (Loss) before tax Adjustments: Depreciation / amortisation (including investment property) Loss / (profit) on sale / discard of property, plant and equipment (net) Unrealised exchange difference (net ) Rent income Guarantee commission income Finance cost Provision for doubtful debts, loans ,advances & deposits (net) Share-based payments to employees Fair value gain on investments (net) Interest income Sundry credit balance written back Dividend income	6,564.55 7,595.48 (2.57) 606.40 (46.22) (26.60) 130.06 (18.64) 224.56 (1,164.20) (2,287.95) (41.56) (0.36) 4,968.40		(6,381.18) 7,115.27 187.83 (1,263.07) (44.43) (93.11) 128.18 (35.25) 173.61 (2,735.30) (3,852.96) (39.70) (157.64) (616.57)

	Operating Profit/(loss) Before Working Capital Changes Working capital Adjustments: Trade receivables & other assets Inventories Trade payable & other liabilities Cash Generated from / (used in) Operations Direct taxes refund received (payment made) Net Cash Flow from / (used in) Operating Activities -A	11,532.95 (7,317.33) (7,054.85) (379.28) (14,751.46) (3,218.51) (31.07)	(6,997.75) 3,392.10 (4,138.95) 3,295.83 2,548.98 (4,448.77) 264.58

		(3,218.51) (31.07)	(4,448.77) 264.58
		(3,249.58)	(4,184.19)
	B. Cash Flow from Investing Activities Purchase of property, plant & equipment including Capital WIP Proceeds from sale of property, plant and equipment Investments made - in subsidiaries (at cost) Sale / (purchase) of current investment (net) Rent received (including amount received in advance) (Increase) / decrease in escrow bank accounts Interest received Dividend received Net cash flow from / (used in) Investing Activities -B	(28,586.29) 42.22 (872.07) 18,661.31 46.22 (269.57) 2,939.14 0.36	(37,886.89) 203.21 (143.73) 29,614.92 44.43 7.64 4,443.85 157.64
		(8,038.68)	(3,558.93)
	C. Cash Flow from Financing Activities Increase / (decrease) in working capital borrowings (net) Proceeds from employee stock option plan Payments of Lease liabilities Finance cost paid Dividend paid (inclusive of dividend tax in previous year) Net cash flow from / ( used) in Financing Activities -C	(1,521.41) - (15.20) (116.58) (2,865.79)	1,425.63 10.35 (15.64) (118.52) (3,403.36)
		(4,518.98)	(2,101.54)
	Net (Decrease)/ Increase in Cash and Cash Equivalents (A+B+C) Add: Current Investments reclassified as cash and cash equivalents during the year Net (Decrease) / Increase in Cash and Cash Equivalents Cash and Cash Equivalents at the beginning of the year Cash and Cash Equivalents at the end of the year	(15,807.24) 759.24 (15,048.00) 20,307.86 5,259.86	(9,844.66) 11,286.70 1,442.04 18,865.82 20,307.86

13 The results for the quarter ended 31st March, 2021 being the derived figures between the audited figures in respect of the current full financial year ended 31st March, 2021 and the published unaudited figures for the nine-months ended 31st December, 2020, which were subjected to a limited review.
By Order of the Board For Unichem Laboratories Limited Dr. Prakash A. Mody Place: Mumbai Chairman & Managing Director Date: 29th May,2021 DIN:00001285 Prakash Amrut Mody Digitally signed by Prakash Amrut Mody Date: 2021.05.29 14:13:59 +05'30'

13 The results for the quarter ended 31st March, 2021 being the derived figures between the audited figures in respect of the current full financial year ended 31st March, 2021 and the published unaudited figures for the nine-months ended 31st December, 2020, which were subjected to a limited review.

Place: Mumbai Date: 29th May, 2021

By Order of the Board For Unichem Laboratories Limited

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Prakash Digitally signed by Prakash Amrut Mody Amrut Mody Date: 2021.05.29 14:13:59 +05'30' Dr. Prakash A. Mody Chairman & Managing Director DIN: 00001285

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UNICHEM LABORATORIES LIMITED CIN: L99999MH1962PLC012451

Statement of Unaudited Consolidated Financial Results for the Quarter & Audited Financial Results for the year ended 31st March, 2021.

UNICHEM LABORATORIES LIMITED CIN: L99999MH1962PLC012451 Statement of Unaudited Consolidated Financial Results for the Quarter & Audited Financial Results for the year ended 31st March, 2021.	UNICHEM LABORATORIES LIMITED CIN: L99999MH1962PLC012451 Statement of Unaudited Consolidated Financial Results for the Quarter & Audited Financial Results for the year ended 31st March, 2021.	UNICHEM LABORATORIES LIMITED CIN: L99999MH1962PLC012451 Statement of Unaudited Consolidated Financial Results for the Quarter & Audited Financial Results for the year ended 31st March, 2021.	UNICHEM LABORATORIES LIMITED CIN: L99999MH1962PLC012451 Statement of Unaudited Consolidated Financial Results for the Quarter & Audited Financial Results for the year ended 31st March, 2021.	UNICHEM LABORATORIES LIMITED CIN: L99999MH1962PLC012451 Statement of Unaudited Consolidated Financial Results for the Quarter & Audited Financial Results for the year ended 31st March, 2021.	UNICHEM LABORATORIES LIMITED CIN: L99999MH1962PLC012451 Statement of Unaudited Consolidated Financial Results for the Quarter & Audited Financial Results for the year ended 31st March, 2021.
	₹ Lakhs
Particulars	Quarter ended 31st Mar'21 (Unaudited)	Quarter ended 31st Dec'20 (Unaudited)	Quarter ended 31st Mar'20 (Unaudited)	Year ended 31st Mar'21 (Audited)	Year ended 31st Mar'20 (Audited)
I II Revenue from operations Other income	27,411.72 783.10	32,628.49 1,560.59	29,019.68 1,182.22	1,23,513.53 5,018.76	1,10,371.28 9,131.31
III Total income(I+II)	28,194.82	34,189.08	30,201.90	1,28,532.29	1,19,502.59
IV EXPENSES Changes in inventories of finished goods and work-in-progress Employee benefits expense Finance costs Depreciation and amortization expense Other expenses Purchase of stock-in-trade Cost of materials consumed (including provisions)	10,871.56 5.35 (4,910.23) 7,603.60 181.32 2,187.09 11,936.52	11,356.74 16.06 (1,004.13) 7,823.95 127.03 2,081.69 11,423.78	9,591.94 38.45 (570.72) 7,486.58 239.47 2,296.21 11,137.34	46,698.72 53.52 (8,814.04) 30,697.06 511.86 8,435.63 45,767.35	42,187.92 104.37 (3,575.68) 27,327.99 784.72 8,166.94 49,408.62
Total expenses(IV)	27,875.21	31,825.12	30,219.27	1,23,350.10	1,24,404.88
V VI VII Share of profit / (loss) in associate (net of tax) Profit / (loss) before exceptional items and tax (III- IV+V) Exceptional items	(23.65) 295.96 -	(14.97) 2,348.99 -	61.42 44.05 -	(34.25) 5,147.94 -	81.27 (4,821.02) -
VIII Profit /(loss) before tax(VI-VII)	295.96	2,348.99	44.05	5,147.94	(4,821.02)
IX (1) Current tax (Refer note 4) (2) Deferred tax charge / (credit) (Refer note 5) (3) Short / (excess) provision for tax (earlier years) Tax expense	282.17 (7.37) 62.02	3.80 (10.89) -	291.71 1,470.92 -	1,668.26 (14.82) 62.02	547.24 649.99 -
	336.82	(7.09)	1,762.63	1,715.46	1,197.23
X Profit/(loss) for the period after tax (VIII-IX)	(40.86)	2,356.08	(1,718.58)	3,432.48	(6,018.25)
XI A. (i) Items that will not be reclassified subsequently to profit or loss - Remeasurement of the net defined benefit plan - Equity instruments through other comprehensive income (ii) Income tax (expense) / credit relating to items that will not be reclassified to profit or loss - Remeasurement of the net defined benefit plan - Equity instruments through other comprehensive income (net) B. (i) Items that will be reclassified to profit or loss - Foreign currency translation difference (ii) Income tax relating to items that will be reclassified to profit or loss Other Comprehensive Income / (Loss)	149.01 2,504.10 24.58 (300.51) 36.84 -	(88.59) - - - (328.33) -	(0.72) 444.10 - - 201.51 -	(97.68) 2,504.10 24.58 (300.51) (491.02) -	(144.60) 444.10 - - 6.14 -
Total of Other Comprehensive Income /(Loss)	2,414.02	(416.92)	644.89	1,639.47	305.64
XII Total Comprehensive Income for theperiod(X+XI)	2,373.16	1,939.16	(1,073.69)	5,071.95	(5,712.61)
XIII XIV Paid-up equity share capital (Face value of ₹ 2/- per share) Other Equity (Reserves excludingrevaluation reserve)	1,408.12	1,408.12	1,408.12	1,408.12 2,54,275.36	1,408.12 2,51,727.05
XV (1) Basic (2)Diluted Earnings per equity share (Face value of ₹ 2/- per share) (not annualised)	(0.06) (0.06)	3.35 3.35	(2.44) (2.44)	4.88 4.88	(8.55) (8.55)
Notes : 1 2 3 4 The above consolidated financial results have been prepared in accordance with the guidelines issued by the Securities and Exchange Board of India ("SEBI") and the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013. Operating Segment : The Company has a single reportable segment i.e. 'Pharmaceuticals'. In respect of the Company, during the quarter ended 31st December, 2020, decision has been taken to opt for new tax regime for the financial year 2020- 2021. Considering brought forward tax loss, no tax is payable under the new tax regime. Consequently, provision for current tax made in accordance with Section 115JB of the Income-tax Act, 1961 under old regime during the quarter and half year ended 30th September, 2020 has been reversed during the quarter ended 31st December, 2020. The above consolidated financial results for the quarter and year ended 31st March, 2021 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on 29th May, 2021. The statutory auditors have expressed an unqualified audit opinion on these consolidated financial results for the year ended 31st March, 2021.

Notes : 1 The above consolidated financial results for the quarter and year ended 31st March, 2021 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on 29th May, 2021. The statutory auditors have expressed an unqualified audit opinion on these consolidated financial results for the year ended 31st March, 2021. 2 The above consolidated financial results have been prepared in accordance with the guidelines issued by the Securities and Exchange Board of India ("SEBI") and the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013. 3 Operating Segment : The Company has a single reportable segment i.e. 'Pharmaceuticals'. 4 In respect of the Company, during the quarter ended 31st December, 2020, decision has been taken to opt for new tax regime for the financial year 20202021. Considering brought forward tax loss, no tax is payable under the new tax regime. Consequently, provision for current tax made in accordance with Section 115JB of the Income-tax Act, 1961 under old regime during the quarter and half year ended 30th September, 2020 has been reversed during the quarter ended 31st December, 2020.

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5 In respect of the Company, for the quarter and year ended 31st March 2021, deferred tax liability exceeds the deferred tax assets (including assets in respect of brought forward losses and depreciation) in accordance with the new tax regime. Upto 31st December, 2020, deferred tax assets was recognised on the amount of tax loss, unabsorbed tax depreciation and other temporary differences upto the extent of deferred tax liability.
6 On 9th July, 2014, the European Commission (“EU”) decided to impose an unjustified fine of Euro 13.96 million, jointly and severally on the Company and its subsidiary Niche Generics Ltd (“Niche”) contending that they had acted in breach of EU competition law as Niche Generics Ltd had, in early 2005 (when the Company was only a part owner and financial investor in Niche) had agreed to settle a financially crippling patent litigation with Laboratories Servier. The Company vehemently denies any wrongdoing on the part of either itself or Niche. Both the Company & Niche had submitted appeals in September 2014 to the General Court of the EU seeking appropriate relief in the matter. The General Court of the EU has rejected the appeals vide Order dated 12th December 2018 and confirmed the fine of Euro 13.96 million. The Company and its subsidiary based on legal advice and merits, have filed appeals against the decision of General Court before the Court of Justice of the EU and outcome of the appeals are awaited. Considering the above, in view of the management, no provision for the aforesaid fine is considered necessary. Based on above, fine imposed by the EU of Euro 13.96 million (equivalent to ₹ 12,044.69 lakhs) is disclosed under contingent liability. The statutory auditors have given Emphasis of Matter in their audit report on standalone and consolidated financial results for the year ended 31st March, 2021 and in earlier reports.
7 The COVID 19 pandemic has adversely impacted the global economic conditions and its impact still remains uncertain. Considering the Company and its subsidiaries are in the business of manufacturing and supplying pharmaceutical products, the management believes that the impact of the pandemic may not be significant. The Company and its subsidiaries will continue to closely monitor any material changes to future economic conditions.
8 The Board recommends a final dividend of ₹ 4/- per share (200 %) (face value of ₹ 2/- per share) for the year ended 31st March, 2021. The payment is subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company. The final dividend declared in the previous year and paid during the current year was ₹ 4/- per share (200%).
9 The aggregate amount of revenue expenditure incurred on Research and Development (R&D) as included in the relevant expense heads is as tabulated below:

The aggregate amount of revenue expenditure incurred on Research and Development (R&D) as included in the relevant expense heads is as tabulated below:	The aggregate amount of revenue expenditure incurred on Research and Development (R&D) as included in the relevant expense heads is as tabulated below:	The aggregate amount of revenue expenditure incurred on Research and Development (R&D) as included in the relevant expense heads is as tabulated below:	The aggregate amount of revenue expenditure incurred on Research and Development (R&D) as included in the relevant expense heads is as tabulated below:	The aggregate amount of revenue expenditure incurred on Research and Development (R&D) as included in the relevant expense heads is as tabulated below:	The aggregate amount of revenue expenditure incurred on Research and Development (R&D) as included in the relevant expense heads is as tabulated below:
₹ Lakhs
Particulars	Quarter ended 31st Mar'21	Quarter ended 31st Dec'20	Quarter ended 31st Mar'20	Year ended 31st Mar'21	Year ended 31st Mar' 20
Total R&D expenditure	3,632.35	3,657.68	3,127.15	12,990.81	15,640.75

10 Statement of Consolidated Assets and Liabilities:

tement of Consolidated Assets and Liabilities:
		₹ Lakhs
Particulars	As at 31st Mar,2021	As at 31st Mar,2020
	Audited	Audited
I. ASSETS
Non-current assets
(a) Property, plant and equipment	83,281.41	81,519.78
(b) Right of use assets	4,606.35	4,931.39
(c) Capital work-in-progress	56,749.62	33,046.97
(d) Investment property	353.29	359.60
(e) Goodwill	154.51	154.51
(f) Other intangible assets	-	-
(g) Investment accounted for using the equity method	593.23	627.48
(h) Financial assets
(i) Investments	14,965.86	12,450.82
(ii) Loans	7.28	7.95
(iii) Other financial assets	1,026.33	1,003.35
(i) Deferred tax assets (net)	1,395.36	293.75
(j) Other non-current assets	11,706.50	11,431.37
	1,74,839.74	1,45,826.97
Current assets
(a) Inventories	53,833.98	39,654.10
(b) Financial Assets
(i) Investments	23,642.92	41,910.22
(ii) Trade receivables	25,026.95	39,013.99
(iii) Cash and bank balances
Cash & cash equivalents	7,746.08	23,151.84
Other bank balances	498.78	229.21
(iv) Loans	4.47	4.40
(v) Other financial assets	919.82	1,532.97
(c) Other current assets	26,058.66	23,149.89
	1,37,731.66	1,68,646.62
TOTAL ASSETS	3,12,571.40	3,14,473.59
II. EQUITY AND LIABILITIES
Equity
(a) Equity share capital	1,408.12	1,408.12
(b) Other equity	2,54,275.36	2,51,727.05
	2,55,683.48	2,53,135.17
Liabilities
Non-current liabilities
(a) Financial liabilities
(i)Lease liabilities	1,431.02	1,845.35

(b) Provisions	3,041.36	2,351.21
(c) Deferred tax liabilities (net)	1,370.22	-
(d) Other non-current liabilities	469.21	469.21
	6,311.81	4,665.77
Current liabilities
(a) Financial liabilities
(i) Borrowings	10,062.50	18,403.36
(ii) Trade payables
Total outstanding dues of micro enterprises and small enterprises	631.27	247.91
Total outstanding dues of creditors other than	20,376.87	24,773.69
micro enterprises and small enterprises
(iii) Lease liabilities	415.79	402.06
(iv) Other financial liabilities	11,618.51	7,270.29
(b) Other current liabilities	5,662.50	4,531.48
(c) Provisions	1,482.60	980.80
(d) Current tax liabilities (net)	326.07	63.06
	50,576.11	56,672.65
TOTAL EQUITY AND LIABILITIES	3,12,571.40	3,14,473.59

11 Statement of Consolidated Cash flows:

	(b) Provisions (c) Deferred tax liabilities (net) (d) Other non-current liabilities Current liabilities (a) Financial liabilities (i) Borrowings (ii) Trade payables Total outstanding dues of micro enterprises and small enterprises Total outstanding dues of creditors other than micro enterprises and small enterprises (iii) Lease liabilities (iv) Other financial liabilities (b) Other current liabilities (c) Provisions (d) Current tax liabilities (net)	3,041.36 1,370.22 469.21	2,351.21 - 469.21
		6,311.81	4,665.77
		10,062.50 631.27 20,376.87 415.79 11,618.51 5,662.50 1,482.60 326.07	18,403.36 247.91 24,773.69 402.06 7,270.29 4,531.48 980.80 63.06
		50,576.11	56,672.65
	TOTAL EQUITY AND LIABILITIES	3,12,571.40	3,14,473.59
11 Statement of Consolidated Cash flows:
				₹ Lakhs (4,821.02) 8,172.20 185.73 (548.92) (38.12) (81.27) 784.72 (35.25) 241.66 (2,735.30) (3,869.15) (39.70) (157.64) 1,878.96 (2,942.06) 6,309.42 (5,787.64) 4,835.74 5,357.52 2,415.46 (433.81) 1,981.65 (38,615.20) 588.20 29,614.92 38.12 165.05 4,460.04 157.64 (3,591.23) Year ended 31st March, 2020 (Audited)
	Particulars	Year ended 31st March, 2021 (Audited)		Year ended 31st March, 2020 (Audited)
	A.Cash Flow from Operating Activities Net Profit / (Loss) before tax Adjustments: Depreciation / amortisation / Impairment loss (including investment property) Loss / (profit) on sale / discard of property, plant and equipment (net) Unrealised exchange difference (net ) Rent income Share of (profit) / loss from associate Finance cost Provision for doubtful debts, loans ,advances & deposits (net) Share-based payments to employees Fair value gain on investments (net) Interest income Sundry credit balance written back Dividend income Operating Profit / (loss) Before Working Capital Changes Working capital Adjustments: Trade receivables & other assets Inventories Trade payable & other liabilities Cash Generated from / (used in) Operations Direct taxes refund received / (payment made) Net Cash Flow from / (used in) Operating Activities - A	5,147.94 8,441.94 52.26 761.13 (46.22) 34.25 511.86 27.00 282.64 (1,164.20) (2,293.95) (41.56) (0.36) 6,564.79 11,712.73 9,519.82 (14,179.88) (2,306.48) (6,966.54) 4,746.19 (1,436.32)		(4,821.02) 8,172.20 185.73 (548.92) (38.12) (81.27) 784.72 (35.25) 241.66 (2,735.30) (3,869.15) (39.70) (157.64) 1,878.96 (2,942.06) 6,309.42 (5,787.64) 4,835.74 5,357.52 2,415.46 (433.81)

			4,746.19 (1,436.32)		2,415.46 (433.81)
			3,309.87		1,981.65
	B. Cash Flow from Investing Activities Purchase of property, plant & equipment including Capital WIP Proceeds from sale of property, plant and equipment Sale / (purchase) of current investment (net) Rent received (including amount received in advance) (Increase) / decrease in escrow bank accounts Interest received Dividend received Net cash flow from / (used in) Investing Activities -B		(28,781.44) 42.22 18,661.31 46.22 (269.57) 2,945.14 0.36		(38,615.20) 588.20 29,614.92 38.12 165.05 4,460.04 157.64
			(7,355.76)		(3,591.23)

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C. Cash Flow from Financing Activities
Increase / (decrease) in working capital borrowings (net)	(8,340.86)	(1,658.98)
Proceeds from employee stock option plan	-	10.35
Payments of Lease liabilities	(478.74)	(470.62)
Finance cost paid	(433.72)	(707.34)
Dividend paid (inclusive of dividend tax in previous year)	(2,865.79)	(3,403.36)
Net cash flow from / ( used) in Financing
Activities -C	(12,119.11)	(6,229.95)
Net (Decrease) / Increase in Cash and Cash Equivalents (A+B+C)	(16,165.00)	(7,839.53)
Add: Current Investments reclassified as cash and cash
equivalents during the year	759.24	11,286.70
Net (Decrease) / Increase in Cash and Cash Equivalents	(15,405.76)	3,447.17
Cash and Cash Equivalents at the beginning of the year	23,151.84	19,704.67
Cash and Cash Equivalents at the end of the year	7,746.08	23,151.84

12 Other income of subsidiary at USA for the quarter and year ended 31st March, 2021 includes write back of loan of USD 4.23 lakhs (equivalent ₹ 313.44 lakhs) which was received in earlier quarter under Paycheck Protection Program [PPP]. The subsidiary had initiated the loan forgiveness process with the Small Business Administration (SBA) under PPP which is approved during March 2021 and accordingly the loan amount has been written back. Till 31st December 2020, pending approval of loan forgiveness by SBA, entire amount was disclosed as borrowings.

13 Previous period figures are regrouped and rearranged wherever necessary. However, there is no impact in the financial result of the respective period.

By Order of the Board For Unichem Laboratories Limited Digitally signed by Prakash Prakash Amrut Mody Amrut Mody Date: 2021.05.29 14:14:53 +05'30' Dr. Prakash A. Mody Place: Mumbai Chairman & Managing Director Date: 29th May, 2021 DIN: 00001285

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MILAN d4,
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8d8d8e453272ccde090e68f, postalCode=400028,
st=MAHARASHTRA,
NAVIN MODY serialNumber=b53fc37c6a6ccc5435460835a4d6b0fe9c18f4b228ea4b35b24166dbb248fbc3, cn=MILAN NAVIN MODY
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consolidated financial results of Unichem Laboratories Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors, Unichem Laboratories Limited

Report on Consolidated Financial Results for year ended 31[st] March, 2021

Opinion

We have audited the accompanying consolidated financial results of Unichem Laboratories Limited Holding , comprising its subsidiaries (the Holding and its subsidiaries collectively for the year ended 31[st] March, 2021 ,

attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended .

In our opinion and to the best of our information and according to the explanations given to us and based on consideration of the report of other auditors referred to in paragraph 7 below on separate financial statements and on other financial information of foreign subsidiaries and an associate, these consolidated financial results:
a) includes annual audited financial results of the following subsidiaries:
i. Niche Generics Limited, United Kingdom
ii. Unichem Pharmaceuticals (USA), Inc., USA
iii. Unichem Laboratories Limited, Ireland
iv. Unichem SA (Pty) Limited, South Africa
v. Unichem Farmaceutica Do Brasil Ltda, Brazil
vi. Unichem (China) Pvt. Ltd, incorporated on 27[th] June, 2019.
b) includes annual unaudited financial results of the associate: Synchron Research Services Pvt. Ltd.
c) have been presented in accordance with the requirements of Regulation 33 of the Listing Regulations, 2015 (as amended) in this regard; and
d) gives a true and fair view in conformity with the Ind AS and other accounting principles generally accepted in India of the total comprehensive income comprising of net profit and other comprehensive income and other financial information of the Group for the year ended 31[st] March, 2021

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section described in the f the Consolidated Financial Results section of our report. We are independent of the Group and its associate, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the consolidated financial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence is sufficient and appropriate to provide a basis for our opinion

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results of Unichem Laboratories Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

Emphasis of Matter

We draw attention to note 6 of notes to the statement, which informs that the General Court of the European Union has on 12[th] December, 2018 rejected the appeal and confirmed the fine of Euro 13.96 Million (equivalent to Rs. 12,044.69 lakhs) imposed by the European Commission jointly and severally on the Holding Company and its subsidiary (Niche Generics Limited, UK). The Holding Company and its subsidiary based on legal advice and merits have filed appeals against the decision of General Court before the Court of Justice of the European Union and outcome of the appeals is awaited. Considering the above, in view of the management, no provision for the aforesaid fine is considered necessary. audit reports on the

standalone financial statements for the year ended 31[st] March, 2019 and 31[st] March, 2020 and consolidated financial statements for the year ended 31[st] March, 2018, 31[st] March, 2019 and 31[st] March, 2020 as well as in our limited review reports on quarterly standalone financial results from December 2018 onwards and consolidated financial results from June 2019 onwards. Our opinion is not modified in respect of above matter.

onsibility for Consolidated Financial Results

These Consolidated financial results have been prepared on the basis of the consolidated annual financial statements.

these consolidated financial results that give a true and fair view of the net profit and other comprehensive income and other financial information of the Group including its associate in accordance with the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Board of Directors of the companies included in the Group and of its associate are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and its associate and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the statement that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial results by the Directors of the Holding Company, as aforesaid.

In preparing the consolidated financial results, the respective Board of Directors of the companies included in the Group and of its associate are responsible for assessing the ability of the Group and its associate to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group and of its associate are responsible for overseeing the financial reporting process of the Group and of its associate.

The results for the quarter ended 31[st] March, 2021 being the derived figures between the audited figures in respect of the current full financial year ended 31[st] March, 2021 and the published unaudited figures for the nine-months ended 31[st] December, 2020, which were subjected to a limited review.

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the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

Auditors Responsibility

Our responsibility is to express an opinion on the statement based on our audit of such annual consolidated financial statements.

Our objectives are to obtain reasonable assurance about whether the consolidated financial results as report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the consolidated financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion on whether the Holding Company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
Conclude on the appropriateness of the Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group and its associate to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our consolidated financial results or, if such disclosures are inadequate, to modify our opinion. Our However, future events or conditions may cause the Group and its associate to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the consolidated financial results, including the disclosures, and whether the consolidated financial results represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group and its associate to express an opinion on the consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the consolidated financial results of which we are the independent auditors. For the other entities included in the consolidated Financial Results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

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results of Unichem Laboratories Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

Materiality is the magnitude of misstatements in the Consolidated Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Consolidated Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Consolidated Financial Results.

We communicate with those charged with governance of the Holding Company and such other entities included in the consolidated financial results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.

Other Matters

We did not audit the financial statements of six subsidiaries, whose financial statements reflect total assets of Rs. 44,206.72 lakhs as at 31[st] March, 2021, total revenues (including other income) of Rs. 18,670.67 lakhs and Rs. 80,630.58 lakhs and share of total profit after tax amounting to Rs. 998.39 lakhs and Rs. 4,981.82 lakhs for the quarter and year ended 31[st] March, 2021 respectively, and net cash outflow of Rs. 151.21 lakhs for the year ended 31[st] March, 2021, as considered in the consolidated financial statements. These financial statements have been audited by other auditors whose reports have been furnished to us by the management and our opinion on the consolidated financial results, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and our report in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, (as amended)in so far as it relates to aforesaid subsidiaries located outside India is based on the report of other auditors.
net loss of Rs. 23.65 lakhs and Rs. 34.25 lakhs for the quarter and year ended 31[st] March 2021, in respect of one associate, whose financial information have not been audited by us. This financial information is unaudited and have been furnished to us by the Management and our opinion on the consolidated financial results, in so far as it relates to the amounts and disclosures included in respect of the associate and our report in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015(as amended), in so far as it relates to aforesaid associate are solely based on the information provided by the management. In our opinion and according to the information and explanations given to us by the Management, this financial information is not material to the Group.

For N. A. Shah Associates LLP

Chartered Accountants Firm Registration No.116560W / W100149

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Milan Mody

Partner Membership No.: 103286 UDIN: 21103286AAAACX6816 Place: Mumbai Date: 29[th] May, 2021

AI assistant

Unichem Laboratories Ltd. Annual Report 2021

61109_rns_2021-05-29_b8892ae7-31f9-46da-a620-9ff956fedec1.pdf

Department of Corporate Services Mr. Hari K

Dear Sir,

Sub: Outcome of Board Meeting

FOR UNICHEM LABORATORIES LIMITED

Department of Corporate Services Mr. Hari K

FOR UNICHEM LABORATORIES LIMITED

UNICHEM LABORATORIES LIMITED CIN: L99999MH1962PLC012451

UNICHEM LABORATORIES LIMITED CIN: L99999MH1962PLC012451

consolidated financial results of Unichem Laboratories Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors, Unichem Laboratories Limited

Report on Consolidated Financial Results for year ended 31[st] March, 2021

Opinion

Basis for Opinion

results of Unichem Laboratories Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

Emphasis of Matter

onsibility for Consolidated Financial Results

the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

Auditors Responsibility

results of Unichem Laboratories Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

Other Matters

For N. A. Shah Associates LLP

Milan Mody

AI assistant

Unichem Laboratories Ltd. — Annual Report 2021

61109_rns_2021-05-29_b8892ae7-31f9-46da-a620-9ff956fedec1.pdf

Department of Corporate Services Mr. Hari K

Dear Sir,

Sub: Outcome of Board Meeting

FOR UNICHEM LABORATORIES LIMITED

Department of Corporate Services Mr. Hari K

FOR UNICHEM LABORATORIES LIMITED

UNICHEM LABORATORIES LIMITED CIN: L99999MH1962PLC012451

UNICHEM LABORATORIES LIMITED CIN: L99999MH1962PLC012451

consolidated financial results of Unichem Laboratories Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors, Unichem Laboratories Limited

Report on Consolidated Financial Results for year ended 31[st] March, 2021

Opinion

Basis for Opinion

results of Unichem Laboratories Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

Emphasis of Matter

onsibility for Consolidated Financial Results

the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

Auditors Responsibility

results of Unichem Laboratories Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

Other Matters

For N. A. Shah Associates LLP

Milan Mody

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Unichem Laboratories Ltd. Annual Report 2021