Plot
No.
2-B,
Sector Fax:
-126,NOIDA-201304, Distt. | |||
+91 | 120 | 3090111, | 3090211 |
Gautam E-mail:
Budh | : |
Nagar, Uttar Pradesh, Tel. | |
iglho@indiaglycols.com, Website: |
+91 | 120 | 6860000, 3090100, 3090200 |
www.indiaglycols.com |
11th
February,
2022
The Manager (Listing) | |||
BSE Limited | |||
1st | Floor, | New Trading | Ring, |
Rotunda | Building, P.J. | Towers, | |
Dalal Street, | |||
Mumbai- 400 001 | |||
Scrip Code: 500201 | |||
Dear Sirs, |
The Manager (Listing) | |
National Stock Exchange of India Limited | |
Exchange | Block G, |
Plaza, C- 1, | |
Sandra Kurla Complex, | |
Sandra (East) | |
Mumbai - 400 051 | |
Symbol: INDIAGLYCO |
Sub:
Outcome
of the
Board
Meeting
held
on
11th
February,
2022
Further to our letter dated 4th February, 2022 and pursuant to Regulation 30 and | Schedule Ill | ||||||||||
of | Securities | and | Exchange | Board | of | India (Listing | Obligations | and | Disclosure | ||
Requirements), | Regulations, 2015, | we wish | to | inform you that the Board of Directors of the | |||||||
Company in | |||||||||||
its meeting held today i.e. | 11th | February, 2022 | has, inter-alia, | considered and | |||||||
approved the Unaudited Financial Results | (Standalone and | Consolidated) | of the Company | ||||||||
for the quarter and nine months ended 3l5 | 1 | December, 2021. | |||||||||
The copy | of above results along |
thereon is | enclosed herewith. |
with
the
Limited Review Reports
of
Statutory Auditors
The
above
said
Board
Meeting
commenced
at
f5.2
2
Hrs.
and
concluded
at
/7.
0
CZ
Hrs.
This
is
for your information
and
records.
Thanking you, You truly,
For
In
ia Glycols Limited
A | a |
He | (Legal) |
~cl~~~a |
&
Company
Secretary
Works
&
Corporate | |||
Office: 3A, Shakespeare | |||
Sarani, Kcilkata - 700071, | Phone : +91 | 33 22823585, 22823586 | |
Registered Office : A-1, Industrial Area, Bazpur Road, Kashipur - 244713, Distt. Udham Singh Nagar (Uttarakhand) | |||
Phone: +91 | 5947 269000 I 269500 Fax: +91 | 5947 275315, 269535 | |
CIN: | |||
L24111UR1983PLC009097 |
Unaudited Segment wise Revenue, Results and Assets and Liabilities | |
S.No. Particulars | |
1 | Segment Revenue |
- Bio-basedSpecialities and Performance Chemicals
- Potable Spirits
- Ennature Biopharma
Total | |
2 | Segment Results (Profit I {Loss) before Interest and Tax) |
Standalone | ||||
Quarter ended | Nine Months ended | |||
31.12.2021 | 30.09.2021 | 31.12.2020 | 31.12.2021 | 31.12.2020 |
!Unaudited! | !Unaudited! | (Unaudited) | !Unaudited! | (Unaudited! |
58,743 | 55,113 | 49,084 | 1,59,588 | 99,490 |
1,14,024 | 1,09,954 | 1,09,206 | 3,39,164 | 2,69,833 |
3,259 | 4,396 | 4,444 | 11,902 | 11,266 |
l,7b,U2b | 1,69,..o:> | l,62,734 | 5,10,654 | 3,80,589 |
("!In Lakhs)
Year ended 31.03.2021
IAuditedl
1,49,441 3,74,499
15,060 5,39,000
- Bio-basedSpecialities and Performance Chemicals
- Potable Spirits
- Ennature Biopharma
1ota1 Less /(Add):
- Interest (Net)
- Exceptional Items
- Unallocated corporate expenses net of unallocable income | |
Profit Before Tax from continuing operations | |
Profit/{loss) Before Tax from discontinued operations | |
3 | Segment assets |
- Bio-basedSpecialities and Performance Chemicals
- Potable Spirits
- Ennature Biopharma
- Unallocated
- Assets held for sale and discontinued operations | |
Total | |
4 | Segment liabilities |
- Bio-basedSpecialities and Performance Chemicals
- Potable Spirits
- Ennature Biopharma
- Unallocated
- Liabilities held for sale and discontinued operations Total
2,503 2,160 801 5,464
1,499 - 1,044
2,921 -
2,73,710 50,075 37,024 44,672 - 4,05,481
94,402 33,261 5,558 1,22,977 - .t,56,198
3,024 2,258 1,069 6,351
1,480 -
1,032
3,839 -
2,65,322 49,257 37,159
44,145 - 3,95,883
98,359 30,620 7,897
1,11,914 - 2,48,79u
1,205 4,800 1,222 7,227
2,014 - 1,713
3,500 1,585
2,96,914 42,475 31,400 21,123 - 3,91,912
1,13,689 24,284 4,171 1,26,229 - 2,68,373
7,636 6,697
2,931 17,264
4,566 (23,988) 3,608
33,078 1,372
2,73,710 50,075 37,024 44,672
4,05,481
94,402 33,261 5,558 1,22,977
2,56,198
2,539 11,436 3,948 17,923
5,682 - 4,066
8,175 2,149
2,96,914 42,475 31,400 21,123 - 3,91.,912
1,13,689 24,284 4,171 1,26,229 - 2,68,373
4,660 15,361 5,138 25,159
7,345 -
5,782 12,032 4,518
2,61,124 52,999 31,744 23,281 38,269 4,07,417
1,02,105 34,416 3,328 1,39,629
3,437 2,82,915
Notes:
1
2
3
The above results were reviewed by the Audit committee in its meeting held on February 11, 2022 and have been approved by the Board of Directors in its meeting held on February 11, 2022. The auditors of the Company have carried out a limited review of the same.
Financial results have been prepared and presented in accordance with the recognition and measurement principles prescribed under Section 133 of the Companies Act, 2013.
The Board of Directors of the Company at their meeting held on 24th June, 2020 had considered and approved transfer of Company'sBioEO (Speciality Chemicals) Business to a wholly-owned subsidiary, which was further approved by the members of the Company at their Annual General Meeting held on 24th September, 2020. Further, in pursuance to the approval of the Board at their meeting held on 11th March, 2021, the Company had entered into a Business transfer agreement with IGL Green Chemical Private Limited (later on name changed to Clariant IGL Specialty Chemicals Private Limited), a wholly owned subsidiary for transfer of Company's BioEO (Speciality Chemicals) Business to IGCPL and in the same meeting, the Board of Directors of the Company had also approved entering into a joint venture with IGCPL and Clariant International Ltd. The members of the Company had also approved the same by way of a Special Resolution through Postal Ballot effective 25th April, 2021.
The aforesaid transaction meets the criteria prescribed in Ind AS 105 "Non-current Assets Held for Sale and Discontinued Operations" to be considered as discontinued operation, hence 'BioEO(Speciality Chemicals) Business'has been disclosed as discontinued operations in Standalone financial results. Accordingly, all previous periods figures in the financial results have also been restated. The income, expenses & profitability of discontinuing operations are disclosed in standalone financial results.
The company has transferred 'BioEO(Speciality Chemicals) Business'(specified assets and liabilities including dedicated employees, contracts, licenses, permits, consents, approvals and other legal documents relating to the said business) to IGL Green Chemicals Private Limited (later on name changed to Clariant IGL Specialty Chemicals Private Limited), a wholly owned subsidiary (in accordance with the term of the BTA) with effect from 30 June 2021 as a going concern for a lump sum consideration of Rs 65222 Lakhs (subject to reconciliation /adjustment of working capital & others) by way of slump sale (Rs 45103 Lakhs has been received till 30th September, 2021 and balance will be received over a period of 3 years) and recognised gain of Rs 23988 Lakhs (net of BTA expenses) on slump sale of said business (subject to reconciliation /adjustment of working capital & others), which has been disclosed as exceptional items in standalone financial results.
Further, pursuant to the terms of the JVA and the approvals of the members granted on 25 April 2021, and upon fulfilment of conditions precedent as identified | |
under the JVA, on 30 June 2021, Clariant has invested Rs 58774 Lakhs in the IGCPL, and the IGCPL has allotted and issued 11,240 equity shares (having a face value of | |
Rs 10/-each)@ Rs. 5,22,905 per share (which includes a premium of Rs. 5,22,895 per share) to Clariant International Ltd., such that the IGCPL has become a 51 :49 | |
Joint Venture company, in which 51% stake has been held by Clariant International Ltd. and the remaining 49% stake held by the company along with its wholly | |
owned subsidiary. | |
4 | The Company has considered the possible effects that may result from the pandemic relating to COVID-19 on the carrying amounts of receivables, inventories, |
property, plant and equipment and intangible assets and it has also taken into account the future cash flows. On the basis of evaluation and current indicators of | |
future economic conditions, the Company expects to recover the carrying amounts of these assets and does not anticipate any impairment to these financial and non- | |
financial assets. However, the impact assessment of COVID-19 is a continuing process, given the uncertainties associated with its nature and duration. |
5
During the quarter,
production
at
Kashipur plant was affected
for
17
days
due
to
annual planned shut down on
account
of
catalyst change.
6
The figures
of
the previous period/year have been
restated/regrouped wherever necessary,
to
make
them
comparable.
for
INDIA
GLYCOLS
LIMITED
U.S.
BHARTIA
Place : Chennai | Chairman and Managing Director |
DIN: 00063091 | |
Date | : 11th February, 2022 |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
India Glycols Ltd. published this content on 11 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 February 2022 13:07:01 UTC.