Sah Polymers Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2022

Notes :

1.The above results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on February 11, 2023.The same have also been subjected to Limited Review by the Statutory Auditors.

2. There is no exceptional item.



3. Segment information as per Ind-AS 108, 'Operating Segments' is disclosed in Annexure -1.



4. The Company entered into the capital market with its maiden initial public offering of 10200000 equity shares of Rs. 10/- each at a premium of Rs. 55/- per share aggregating to Rs. 6630/- lakhs on 30th December, 2022. The issue closed on 04.01.2023 and was over-subscribed by 17.46 times. The equity shares are listed and traded on National Stock Exchange Limited and BSE Limited with effect from 12.01.2023.



5.The Company successfully commissioned its Flexible Intermediate Bulk Containers (FIBC) plant at Village : Modi ,District : Udaipur ,having production capacity of 3960 MT per annum and commenced commercial production with effect from January 25,2023 . With this commissioning ,the total plastic processing capacity of the Company has increased to 7920 MT per annum from 3960 MT per annum.



6. Disclosures required pursuant to regulation 32 and 33(1) (e) read with Para E of Part A of Schedule IV to Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, with respect to utilisation, unutilisation of fund etc. as compared with the amount raised through initial public offer will be provided alongwith the financial results for the quarter ended 31.03.2023 and onwards since the relevant information are under compilation as the inital opublic offer closed on 04.01.2023.



7.The Parliament of India has approved the Code on Social Security, 2020 (the Code) which may impact the contributions by the Company towards provident fund, gratuity and ESIC. The Ministry of Labour and Employment has released draft rules for the Code on November 13, 2020. Final rules are yet to be notified. The Company will assess the impact of the Code when it comes into effect and will record related impact, if any.



8. The equity shares of the Company have been listed on 12.01.2023 , after the quarter ended 31.12.2022 but before the due date of submissioin of the financial results for the quarter ended 31.12.2022 i.e. 14.02.2023, and in accordance with listing approval given by the National Stock Exchange Limited vide its letter dated 11.01.2023, the financial results for the quarter ended 31.12.2022 has been submitted only not giving corresponding comparatives in accordance with the Regulation 33 of the SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015.