Vivimed Labs Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2021

NOTES

1. The above Statement of standalone audited financial results for the quarter and year ended 31st, March 2021, Statement of standalone assets and liabilities and Statement of standalone audited cash flows as at and for the year ended March 31, 2021 ('Standalone Statements') are prepared in accordance with Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended. The same were, as reviewed by the Audit Committee, considered and approved by the Board of Directors at its meeting held on June 28, 2021. The same also were audited by the Auditors of the Company.

2. 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.

3. Vivimed Labs Mauritius Limited (Wholly owned Subsidiary) of Vivimed Labs Ltd., has lost its control over UQUIFA SCIENCES (MASCARENE) LTD during the financial year and the company has lost control over step-down subsidiary(ies) in December 31, 2020 namely (1) Uquifa Sciences UK Ltd (formerly Vivimed Labs UK Ltd. (country - United Kingdom) (2) UQUIFA S.A(formerly Vimed Labs Spain S.L.), (country - Spain) (3) Union Quimico Farmaceutica S. A.U (country - Spain) (material subsidiary) (4) Holliday International Limited UK (country - United Kingdom) (5) Uquifa Mexico S.A de. C.V (country - Mexico) (6) Soneas Chemicals Ltd (country - Hungary) (7) Soneas Research Ltd (country - Hungary) (8) UQUIFA India Private Ltd (country - India) with effect from 31.12.2020 and Vivimed specialty chemicals Private Limited has ceased as subsidiary of the company with effect from 14.12.2020.

4. The Company does not have any discontinued operations and the Profit for the period / year represents the Profits from continuing operations only.

5. The Company considered the uncertainty relating to the Covid-19 pandemic in assessing the recoverability of its inventories, receivables and investments. As the company is into essential manufacturing service, which is exempt from lockdown restrictions, the pandemic did not have any significant impact in its operations or its supply chain. In this regard, the Company has considered internal and external information while finalizing various estimates in relation to its financial statements upto the date of approval by the Board of Directors and has not identified any material impact on the carrying value of assets, liabilities or provisions. As the outbreak continues to evolve, the Company 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 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.

7. Figures for the quarter ended 31.03.2021 and corresponding quarter ended 31.03.2020 are the balancing figures between audited figures in respect of the full financial year and the unaudited published year-to-date figures up to the third quarter of the respective financial years.

8. Corresponding numbers of previous period / year have been regrouped, wherever necessary.