Paras Petrofils Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2021

(1) The above results have been reviewed by Audit Committee and taken on record by the Board of Directors at its Meeting held on 28th ,June 2021. The Statutory Auditors have carried out their audit for the above results.



(2)  The above result results are prepared in accordance with Indian Accounting Standards ("Ind AS"), the provisions of the Companies Act, 2013 ("the Act"), as applicable and guidelines issued by the Securities and Exchange Board of India ("SEBI"). The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016.



(3)  The IND AS compliant corresponding figures for the period as reported above have not been subjected to review. However, the Company's management has exercised necessary due diligence to ensure that such financial results provide a true and fair view of its affairs.



(4) The figures for the previous period/year have been regrouped/reclassified, wherever necessary, to conform to the current period/year classification



(5) As the Company's business activity falls within a single segment, therefore "Segment Reporting" are not applicable.



(6) The figures of the last quarters are the balancing figures between audited figures in respect of the full financial year up to March 31, 2021 and March 31, 2020 and the unaudited published year-to-date figures up to December 31, 2020, being the date of the end of the third quarter of the respective financial years which were subjected to limited review.



(7) The COVID -19 pandemic is rapidly spreading throughout the world. The operations of the Company were impacted, due to shutdown of all plants and offices following nationwide lockdown by the Government of India. The Company has resumed operations in a phased manner as per directives from the Government of India. The Company has evaluated impact of this pandemic on its business operations and financial position and based on its review of current indicators of future economic conditions, there is no significant impact on its financial results as at 31st March 2021. However, the impact assessment of COVID-19 is a continuing process given the uncertainties associated with its nature and duration and accordingly the impact may be different from that estimated as at the date of approval of these financial results. The Company will continue to monitor any material changes to future economic conditions.