Ashish Polyplast Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2021

1. The above financial results have been reviewed and recommended by the audit commitee and have been approved and taken on record by the Board of Directors at the meeting held on June 25, 2021. The statutory auditors have expressed an unmodified opinion.



2. The above results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS), prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.



3. The Company is primarily engagend in the Business of PVC Pipes which constitute, a single reportable Segment

in accordance with Ind AS 108 - " Segment Reporting".



4. The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the Company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from stake holders which are under active consideration by the Ministry. Based on an initial assessment by the Company, the additional impact on Provident Fund contributions and gratuity provision by the Company is not expected to be material. The Company will complete their evaluation once the subject rules are notified and will give appropriate impact in the financial results in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.



5. In view of the unprecedented COVID-19 pandemic, the management has made a detailed assessment of its

liquidity position for the next one year and recoverability of Property, Plant and Equipment, Investments, Trade

Receivables and Inventories as at the balance sheet date. In assessing the recoverability, the Company has

considered internal and external information upto the date of approval of these Ind AS financial results and has

concluded that there are no material impact on the operations and the financial position of the Company.

However, the impact of the global health pandemic may be different from that estimated at the date of approval of these financial results.



6. The figures of the quarter ended 31st March , 2021 and 31st March, 2020 are the balancing figures between the audited figures in respect of the full financial years and the publised unaudited year to date figures upto third quarter of the respective financial years. Also the figures upto the end of the third quarter were only reviewd and not subjected to audit.



7. The figures for the Previous period have been re-grouped / re-classified to confirm to the figures of the current period.