Purity Flex Pack Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2020

1. The above results for the quarter and year ended 31st March, 2020 have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 29th June, 2020.

2. The Company has only one reportable segment of business, namely "Packaging business".

3. The statement 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.

4. The Company has considered internal and external sources of information, economic forecast and industry report till the date of approval of the financial results in determining the impact of COVID-19 pandemic on various aspects of its business operations and financial statements. The novel corona virus (COVID-19) outbreak has disrupted the social, economic and financial structure in the country from the end of February 2020. The Country faced a national lockdown from March 25, 2020 to May 31, 2020.

The Company has considered the possible effects that may result from the pandemic related to COVID-19 on the carrying amounts of receivables, property, plant & equipment on the basis of evolution at current indicators of future economic condition. The Company expects to recover the carrying amount of such assets and does not anticipate any impairment to these financial and non-financial assets. However, the impact on assessment of COVID-19 is a continuing process given the uncertainities associated with its nature and duration. The Company is monitoring the situation closely any material changes to future economic condition and take actions as are appropriate based on future economic conditions.

5.Effective from April 1, 2019, the Company has adopted Ind AS 116 'Leases'. The application of Ind AS 116 did not have any significant impact in the financial results of the Company.

6. The figures for the corresponding Previous period's have been regrouped/reclassified wherever considered necessary to confirm to the figures represented in the current period.
The Previous period's figures have been regrouped/rearranged/reclassified wherever necessary to suit the present layout.