Albert David Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2021

Notes :

1) The above Audited Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 17th June, 2021. The Statutory Auditors have expressed an unmoditied audit opinion on these financial results.

2) The Financial Results have been audited by the Statutory Auditors as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

3) The figures for the quarter ended 31st March, 2021 and 31st March, 2020 are the balancing figures between audited figures in respect of the full financial year and the published figures upto the end of respective third quarter.

4) COVID-19 continue unabated throughout 2020-2021. This led to near suspension of field activities with management emphasis laid on work from home which reduced other expenses materially. This along with average rise in other income, predominantly contributed by profit on disposal of current investments and rise in fair value

thereon, despite fall in operating revenue, helped in retaining overall profitability for the quarters/year in terms of respective corresponding periods. True that the supportive features are temporary in nature.

5) Our expectation on normalisation of operating condition is yet to mature considering rage of COVID-19, after relative stabilisation for brief spell, resurfaced rather with higher intensity. Based on the present indicators of future economic conditions evaluated by the management, the carrying amounts of the assets are expected to be recovered albeit subject to possible material changes subsequently for which the final impact on company’s assets might differ from that estimated at the date of this financial result. However, with vaccination drive gaining in momentum, the intensity of the pandemic is expected to subside not in distant future.

6) In pursuance to announcement of Government of India through Taxation Laws (Amendment) Ordinance, 2019, the Company has opted for payment of tax as per section 115BAA of the Income Taxt Act, 1961 with effect from previous financial year 2019-2020 during 2nd quarter of 2020-2021. Due to the above, there was

writing back provision for earlier year 2019-2020 of Rs.120.00 lakhs. Accordingly, the tax expense for the period and the profit after tax are not comparable with the corresponding figures of the previous year/period.

7) The Board of Directors recommended dividend of Rs.6/- per equity share of Rs.10/- each for the financial year ended 31st March, 2021.

8) Management's effort, to gear up sales by way of establishing separate division accommodating a Marketing & Sales Office at Mumbai, the pharmaceutical hub of the sub-continent, has been subjected to significant hinderance during financial year 2020-2021 on account of situation arising out of pandemic.

9) The Company is engaged in the manufacturing of pharmaceutical products and has only one reportable segment in accordance with Ind AS-108 "Operating Segments’,

10) Figures for the previous periods have been regrouped to conform to the figures of the current periods.