Vivimed Labs Ltd. — Interim / Quarterly Report 2022

Aug 13, 2021

Date: 13.08.2021

$To$ BSE Limited P.J.Towers, Dalal Street. Mumbai - 400001 BSE - Code: 532660

National Stock Exchange of India Ltd. Exchange Plaza, Plot no. C/1, G Block, Bandra-Kurla Complex, Bandra (E) Mumbai - 400 051 NSE-Symbol: VIVIMEDLAB

Dear Sir / Madam.

Sub: Outcome of Board Meeting- Un-audited financial results for the quarter ended 30 June, 2021

Ref: Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015

The Board of Directors of the Company at its meeting held on August 13, 2021 inter alia, have approved / resolved/ taken note of the following:

• 1. Pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 considered and approved the submission of the Un-audited Financial Results (Standalone & Consolidated) for the Quarter ended June 30, 2021 attached herewith;
• 1. Auditors's Limited Review Report on the Un-audited Financial Statements of the Company for the quarter ended June 30, 2021.
• 1. Directors Report for the financial year ended 31.03.2021 together with annexure thereto.
• 1. Convening of Annual General Meeting (AGM) on 30.09.2021 and Notice of AGM.
• 1. Fixed Book closure dates from Saturday, September 25, 2021 to Thursday, September 30, 2021 (both days inclusive) for the purpose of AGM.

You are requested to take note of the above.

Vivimed Labs Limited. CIN: L02411KA1988PLC009465 Registered Office: #78/A, Kolhar Industrial Area, Bidar, Karnataka - 585 403, India. T+91 [0] 8482-232045, F+91 [0] 8482-232436 Email: contact@vivimedlabs.com | www.vivimedlabs.com

Corporate Office: North End, Road No. 2 Banjara Hills, Hyderabad, Telangana - 500 034, India. GSTIN: 36AAACV6060A1ZQ T+91[0] 40-6608-6608, F+91[0] 40-6608-6699

		VIVIMED LABS LIMITED
	UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30.06.2021All amounts in Indian Rupees Lakhs
SI. No.	Particulars		3 Months Ended
		30.06.2021	31.03.2021	30.06.2020	Year Ended31.03.2021
		(Unaudited)	(Audited)	(Unaudited)	(Audited)
	Income From OperationsRevenue from Operations	6,229.84	3,467.73	5,353.31	21,004.55
	Total revenue from operations	6,229.84	3,467.73	5,353.31	21,004.55
	Other Income	91.53	178.26	135.68	607.47
	Total Revenue (1+2)	6,321.37	3,645.99	5,488.99	21,612.02
	ExpensesCost of material consumedPurchases of Stock- in-Trade	3,360.42	1,327.80	2,254.78	9,275.48
	Changes in inventories of finished goods work in progress and stock-in-Trade	16.66	486.60	(63.57)	430.62
	Employee Benefit Expenses	743.90	987.00	665.94	3,236.42
	Finance Costs	944.60	912.77	1,140.06	4,149.23
	Depreciation and Amortisation Expenses	435.08	395.32	393.50	1,579.53
	Other Expenses	1,027.03	2,694.85	957.85	5,883.05
	Total Expenses	6,527.69	6,804.35	5,348.57	24,554.33
5	Profit before tax (3-4)	(206.32)	(3, 158.36)	140.41	(2,942.32)
ñ	Tax ExpensesCurrent TaxesDeferred Taxes	÷$\ddot{}$	(23.44)	23.44	(23.44)
	Total tax expenses	×	(23.44)	23.44	(23.44)
	Profit for the period /Year (5-6)	(206, 32)	(3, 134.92)	116.98	(2,918.88)
	Other Comprehensive income
	Items that will not be reclassified to profit or loss, net of tax	$\sim$
	Items that will be reclassified to profit or loss, net of tax	÷
	Total other comprehensive income	÷,
9	Total comprehensive income (7+8)	(206.32)	(3, 134.92)	116.98	(2,918.88)
10	Paid up Equity Share Capital11 Other equity12 Earnings per Share (before Extraordinary Items) (of Rs2/- each)	1,658.28	1,658.28	1,658.28	1,658.28
	(a) Basic(b) Diluted	(0.25)(0.24)	(3.78)(3.67)	0.140.14	(3.52)(3.42)

NOTES

1. The above standalone financial results of Vivimed Labs Limited ("the Company") as reviewed by the Audit Committee has been approved by the Board of Directors at its meeting held on August 13, 2021. The statutory auditors of the Company have carried out a limited review on standalone financial results and expressed an unmodified conclusion theron..

2. These standalone financial results of the Company have been prepared in accordance with the Indian Accounting Standards prescribed under Section 133 of the Companies Act, 2013 ("the Act") read with relevant rules issued thereunder ('IND AS') and other accounting principles generally accepted in India and guidelines issued by the Securities and Exchange Board of India ("SEBI").

3. The Financial results are prepared in accordance with the Indian Accounting standards(IndAS) as prescribed under section 133 of the companies Act,2013 read with the companies (Indian Accounting Standards)Rules,2015(as amended). In line with provisions of Ind AS 108 Operating segments, the Company has primarily two segments "speciality chemicals" and "Pharma" and accordingly considered under reportable segments by the Company

4. COVID-19 is the infectious disease caused by the recently discovered coronavirus, SARS-CoV-2. In March 2020, the WHO declared COVID-19 a pandemic, The Company has adopted measures to curb the spread of infection in order to protect the health of the employees and ensure business continuity with minimal disruption. In assessing the recoverability of receivables and other financial assets, the Company has considered internal and external information upto the date of approval of these standalone financial results. The impact of the global health pandemic may be different from that of estimated as at the date of approval of these standalone financial results and the Company will continue to closely monitor any material changes to future economic conditions.

5. The Code on Social Security, 2020 ("Code") relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India, However, the date on which the code will come into effect has not been notified. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the code becomes effective.

6. The figures for the quarter and quarter ended March 31, 2021 are the balancing figures between the audited figures in respect of the full financial year ended March 31, 2021 and published year to date figures up to third quarter of the financial year ended March 31, 2021. Corresponding numbers of previous period / year have been regrouped, wherever necessary.

Place: Hyderabad Date: 13.08.2021

For VIVIMED LABS LIMITED w (SANTOSH VARALWAR) MANAGING DIRECTOR

VIVIMED LABS liMITED SEGM ENT-WISE STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30.06.2021

	3 Months Ended			FY21
Particulars	30.06.202131.03.2021		30.06.2020	31.03.2021
	(Unaudited)	(Audited)	(Unaudited)	(Audited)
1. Segment Revenue
(net sales/income from eoch segment
should be disclosed under this head)
a.Speciality Chemicals Business	1,374.69	1,500.46	1,198.67	5,350.86
b.Pharmo Business	4,855.15	1,967.27	4,154.64	15,653.69
Total	6,229.84	3,467.73	5,353.31	21,004.55
Less, Inter Segment Revenue
rom OperationsNet sales / Income f	6,229.84	3,467.73	5,353.31	21,004.55
2.Segment Results (Profit) (+-) / Loss (-)
before tax and interest from each segment
a.Speciality Chemicals Business	(200.64)	,530.53)(1	(189.53)	(2,164.93)
b.Pharma Business	938.93	(715.06)	1,470.01	3,371.84
Total	738.28	(2,245.59)	1,280,48	1,206.91
Less: 1.lnterest	944.60	912.77	1,140.06	4,149.23
ther Un-allocable Expenditure2.0
3.Un-a/focabJe Income
Total Profit Before TaK	(106,31)	(3,158.36)	140.41	(1,941.31)

Segmental capital employed

As certain assets 0/ the company including manufacturing facilities and treasury assets and liabilities are often deployed interchangebifity across segments, it is impractical to allocate these assets and liabilities to each segment. Hence, the details for capital employed have not been disclosed in the above table.

I; v V

./

Rs in Lakhs

P C N & ASSOCIATES CHARTERED ACCOUNTANTS Plot No. 12, uN Heights" Ground Floor, Software Layout Unit Cyberabad, Hyderabad - 500 081 .

Independent Auditor's Review Report on the Quarterly Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

To The Board of Directors Mis. Vivimed Labs Limited

We have reviewed the accompanying statement of unaudited standalone financial results of Mis. Vivimed Labs Limited (the "Company") for the quarter ended June 30, 2021 ("the Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recogni tion and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34,') 'Interim Financial Reporting, prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on "the Statement" based on our review.

We conducted our review of "the Statement" in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether "the Statement" is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responSible for financial and accounting matters, and applying analytical and other review proced ures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant· matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

P C N & ASSOCIATES CHARTERED ACCOUNTANTS Plot No. 12 , "N Heights" Ground Floor, Software Layout Unit Cyberabad, Hyderabad - 500 081 .

Attention is invited to the following observations:

• a) The Company has defaulted in repayment of dues to SBI and Exim Bank for the Quarter ended 30th June, 2021. The loans outstanding were classified as NPA by the Banks.
• b) The company is not regular and defaulted in depositing statutory dues with appropriate authorities.

Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying "Statement", prepared in accordance with the recognition and measurement principles laid down in the aforesaid "Ind AS 34" prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued there under and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For P C N & Associates Chartered Accountants FRN: 0160165 ~~ 7tO Partner M.No. 203605 UDlN: 21203605AAAA]T7667

Place: Hyderabad. Date: 13.08.2021.

VIVIMED LABS LIMITED

UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30.06.2021

					Rs. In Lakhs
51. No.	Particulars	Quarter Ended			YEAR ENDED
		30.06.2021	31.03.2021	30.06.2020	31.03.2021
		(Unaudited)	(Audited)	(Unaudited)	(Audited)
	Income From Operations
	Revenue from operations	6,525.96	3,899.27	32,278.71	86,146.75
	Total revenue from operations	6,525.96	3,899.27	32,278.71	86,146.75
	Other Income	91.53	178,26	180.53	982.32
3	Total Revenue (1+2)	6,617.49	4,077.53	32,459.24	87,129.06
	Expenses
	Cost of material consumedPurchases of Stock- in-Trade	3,471.45	1,327.80	13,098.00	35,781.96
	Changes in immentories of finished goods work in progress and stock-in-Trade.	16.66	360.89	393.56	(329.40)
	Employee Benefit Expenses	854.73	1,091.78	6,167.22	19,565.59
	Finance Costs	950.54	920.65	1,488.12	5,387.63
	Depreciation and Amortisation Expenses	453.07	413.32	1,728.97	5,549.48
	Other Expenses	1,104.58	2,753.33	7,961.78	28,750.40
	Total Expenses	6,851.03	6,867.77	30,837.66	94,705.66
5	Profit before tax (3-4)	(233.54)	(2,790.25)	1,621.58	(7,576.59)
	Tax expenses
	Current Taxes		(43.85)	337.88	336.58
	Deferred Taxes				(133.66)
	Total tax expenses		(43.85)	337.88	202.92
	Profit for the period /Year before non-controlling interest (5-6)	(233.54)	(2,746,39)	1,283.69	(7, 779.51)
Я	Non-controlling interest
	Profit for the period/year (7-8)Other comprehensive income	(233.54)	(2,746.39)	1,283.69	(7, 779.51)
10	Items that will not be reclassified to profit or loss, net of tax
	Items that will be reclassified to profit or loss, net of tax
	Total other comprehensive income	÷	÷	$\sim$
11	Non-controlling interest	$\leq$	$\sim$	$\sim$
$12^{1}$	Other comprehensive income attributable to shareholders(10+11)
	Total comprehensive income attributable to:
	Shareholders of the Company	(233.54)	(2, 746.39)	1,283.69	(7, 779.51)
	Non-controlling interest	$\overline{\phantom{a}}$
	Total Comprehensive income	(233.54)	(2, 746.39)	1,283.69	(7, 779.51)
	13 Paid up Equity Share Capital	1,658.28	1,658.28	1,658.28	1,658.28
14	Other cquity
	15 Earnings per Share (before Extraordinary Items) (of Rs2/- each) (not annualised)
	(a) Basic	(0.28)	(3.31)	1.55	(9.38)
	(b) Diluted	(0.27)	(3.22)	1.50	(9.11)
VOTES

1. The above unaudited consolidated financial results of Vivimed Labs Limited ("the Company") as reviewed by the Audit Committee has been approved by the Board of Directors at its meeting held on August 13, 2021. The statutory auditors of the Company have carried out a limited review on consolidated financial results and expressed an unmodified conclusion theron.

2. These consolidated fimmcial results of the Company have been prepared in accordance with the Indian Accounting Standards prescribed under Section 133 of the Companies Act, 2013 ("the Act") read withrelevant rules issue

3. The subsidiaries considered for the consolidated financial statements for the Quarter ended June 30, 2021 are Finoso Pharma Private Limited, Vivimed Labs USA Inc, Vivimed Holdings Ltd and Vivimed Labs Mauritius Ltd.

4. The Financial results are prepared in accordance with the Indian Accounting standards(IndAS) as prescribed under section 133 of the companies Act, 2013 read with the companies (Indian Accounting Standards)Rules,2015(as amended). In line with provisions of Ind AS 108 Operating segments, the Group has primarily two segments "speciality chemicals" and "Pharma" and accordingly considered under reportable segments by the Group

5. COVID-19 is the infectious disease caused by the recently discovered coronavirus, SARS-CoV-2. In March 2020, the WHO declared COVID-19 a pandemic. The Group has adopted measures to curb the spread of infection in order to protect the health of the employees and ensure business continuity with minimal disruption. In assessing the recoverability of receivables and other financial assets, the Group has considered internal and external information upto the date of approval of these Consolidated financial results. The impact of the global health pandemic may be different from that of estimated as at the date of approval of these consolidated financial results and the Group will continue to closely monitor any material changes to future economic conditions.

6. The Code on Social Security, 2020 ("Code") relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published inthe Gazette of India the period the code becomes effective.

7. The figures for the quarter and quarter ended March 31, 2021 are the balancing figures between the audited figures in respect of the full financial year ended March 31, 2021 and published year to date figures up to third quarter of the financial year ended March 31, 2021. Corresponding numbers of previous period / year have been regrouped, wherever necessary.

For VIVIMED LABS DIMITEL (SANTOSH WARALWAR MANAGING DIRECTOR

Place: Hyderabad Date: 13.08.2021

	VIVIMED LABS LIMITED
	SEGMENT·WISE CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30.06.2021
				Rs. In lokhs
		3 Months Ended
Particulars	30.06.2021	31.03.2021	30.06.2020	31.03.2021
	(Unaudited)	{Audited}	(Unaudited)	(Audited)
1. Segment Revenue
(net sales/income from each segment
should be disclosed under this head)
a.Speciality Chemicals Business	1,374.69	1,500.46	1,198.67	5,350.86
b.Pharmo Business	5,151.27	2,398.81	31,080.04	80,795.89
Total	6,525.96	3,899.27	32,278.71	86,146.75
Less Inter Segment Revenue
Net sales / Income /rom Operations	6,525.96	3,899.27	32,278.71	86,146.75
2.Segment Results (Profit) (+) / Loss (-)
before tox and interest: from each segment
a.Speciality Chemicals Business	(200.64)	(1,530.53)	(189.53)	(2,164.93)
b.Phormo Business	917.64	(339.07)	3,299.23	(24.03)
Totol	717.00	(1,869.60)	3,109.70	(2,188.96)
Less: l.Interest	950.54	920.65	1,488.12	5,387.63
2.0ther Un-allocable Expenditure
3. Un-allocable Income
Total Profit Before Tax	(233.54)	(2,790.25)	1,621.58	(7,576.59)

Segmental capital employed

As certain assets of the company including manufacturing facilities and treasury assets and liabilities are often deployed interchangebility across segments, it is impractical to allocate these assets and liabilities to each segment. Hence, the details for capital employed hove not been disclosed in the above table.

For VIVIMED ~/

~M' MA ING ECTOR

P/oce : Hyderabad Dote : 13.08.2021

P C N & ASSOCIATES CHARTERED ACCOUNTANTS Plot No. 12, "N Heights" Ground Floor, Software Layout Unit Cyberabad, Hyderabad - 500 081.

Independent Auditor's Review Report on the Quarterly Unaudited Consolidated Financial Results of the Company pursuant to the Regulation 33 of the SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015, as amended

To The Board of Directors MIs. Vivimed Labs Limited

We have reviewed the accompanying unaudited Consolidated financial results of Mjs. Vivimed Labs Limited (the "Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), for the quarter ended June 30,2021 ("the Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

This Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34("Ind AS 34"), 'Interim Financial Reporting, prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on " the Statement" based on our review

We conducted our review of "the Statement" in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India (ICAI). This standard requires that we plan and perform the review to obtain moderate assurance as to whether " the Statement" is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

P C N & ASSOCIATES CHARTERED ACCOUNTANTS Plot No. 12, uN Heights" Ground Floor, Software Layout Unit Cyberabad, Hyderabad - 500 081 .

Tel. E-mail : (91 -40) 2311 9499 : pcnassociates@yahoo.com

"The Statement" includes the results of the following entities:

(a) Finoso Pharma Private Limited

(b) Vivimed Labs USA Inc

( c)Vivimed Holdings Ltd

(d) Vivimed Labs Mauritius Ltd

Based on our review conducted and procedures performed as stated above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

The accompanying "Statement" includes unaudited interim financial results and other unaudited financial information in respect of subsidiaries, whose interim financial results and other financial information reflect total revenues of Rs. 296.12 lakhs, and total Profit/ (loss) after tax of Rs. (27.22) lakhs, for the quarter ended June 30th, 2021, as considered in "the Statement" whose interim financial results and other financial information have not been reviewed by their auditors;

Attention is invited to the following Observations:

• a) The Company has defaulted in repayment of dues to SBI and Exim Bank for the Quarter ended 30th June, 2021. The loans outstanding were classified as NPA by the Banks.
• b) The company is not regular and defaulted in depositing statutory dues with appropriate authorities.

These unaudited interim financial results and other unaudited financial information have been approved and furnished to us by the Management and our conclusion on "the Statement" in so far as it relates to the affairs of the subsidiaries is based solely on such unaudited interim financial results and other unaudited financial information

P C N & ASSOCIATES CHARTERED ACCOUNTANTS Plot No. 12, uN Heights" Ground Floor, Software Layout Unit Cyberabad, Hyderabad - 500 081.

Our conclusion on "the Statement" in respect of matters stated above is not modified with respect to our reliance on the financial results certified by the Management.

For P C N & Associates Chartered Accountants

Partner M.No.203605 UDIN: 21203605AAAAJU5641

Place: Hyderabad Date: 13.08.2021.