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

1.The above Statement of Standalone & Consolidated Audited Financial Results ("Financial Results") are prepared and published in accordance with Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended. These financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on May 27, 2021. These financial results are prepared in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013, read with the relevant Rules thereunder and other accounting principles generally accepted in India.

2.The figures for the quarters ended March 31 as reported in these Financial Results are the balancing figures between audited figures in respect of the full financial years ended March 31 and the published year to date figures up to the end of the third quarter of the relevant financial years.

3.The Company is primarily engaged in the business of manufacture of Rubber Chemicals, which in the context of Indian Accounting Standard (Ind AS) 108 on ' Operating Segments ', constitutes a single reportable segment.

4.The audited consolidated financial results of NOCIL Limited have been prepared in accordance with Ind AS 110 - 'Consolidated Financial Statements'. Financial results of the wholly owned subsidiary company, PIL Chemicals Limited (together referred to as the NOCIL Group), have been consolidated with the Company.

5.Pursuant to the Scheme of Amalgamation of Suremi Trading Private Limited and Sushripada Investments Private Limited (Promoter Entities) with the Company (the Scheme), the Company had filed an application before the National Company Law Tribunal, Mumbai (NCLT) which approved the Scheme vide its order dated March 3, 2021. In terms of the said Scheme, 2,15,99,859 equity shares and 95,17,830 equity shares in NOCIL held by Suremi Trading Private Limited and Sushripada Investments Private Limited respectively were cancelled and instead, the Company issued 3,11,17,689 equity shares to the shareholders of the Promoter Entities on March 30, 2021.Further, as the appointed date as per said order of NCLT was October 1, 2020, the business done by promoter entities during the period October 1, 2020, and March 31, 2021, have been merged with the Company. The net profit arising out of these transactions amounting to Rs.7 lakhs has been disclosed under Other Income.

6.The Audited Statement of Cash Flows has been prepared under the indirect method as set out in Ind AS 7 - Statement of Cash Flows.

7.The Company’s operations were impacted during the first quarter of the current financial year due to shutdown of its plants following the nationwide lockdown imposed by the Government of India during the first wave of COVID-19 pandemic. The Company's plants have since resumed operations, taking all due care for the health and safety of its employees and adopting work from home policy wherever possible.The Company thereafter, has evaluated the impact of this pandemic on its business operations, financial position and based on its review of current indicators, there is no significant impact on the Company’s assets, capital and financial resources, liquidity position, supply chain or demand for its products for the year ended March 31, 2021. The profitability for the year was impacted during the first quarter of the financial year due to sub optimal operations on account of the lockdown.However, the impact assessment of COVID-19 is a continuous process, given the uncertainties associated with its nature and duration. The financial implications are contingent on the various business parameters which may emerge from time to time and the Company will continue to closely monitor any material changes from those estimated as on the date of adoption of these financial results.

8.The Board of Directors have proposed a dividend of Rs.2 per equity share, subject to approval of the Members in the ensuing Annual General Meeting.

9.The figures for the corresponding previous periods have been regrouped / restated, wherever necessary to conform with current period's classification
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