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

Notes :

1 The Board has recommended a final dividend of Rs.1.50 per share on Equity Shares of Re. 1 each of the Company. The Company has paid interim dividend of Rs.0.50/- per Equity Share.

2 The Company operates in a single segment - manufacture and sale of Cement.

3 There were no exceptional items during the quarter and year ended on March 31, 2021.

4 These results have been prepared based on the audited financial statements for the year ended March 31, 2021 and the interim financial results for the quarter and nine months ended December 31, 2020. The figures of the last quarter are the balancing figures between audited figures for the full financial year and unaudited year to date figures up to the third quarter of the respective financial year.

5 The audited financial results of the Company were reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at their respective meetings held on May 17, 2021.

6 The financial results of the Company have been prepared in accordance with the Indian Accounting Standards ('Ind AS') as prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015, as amended.

7 On account of outbreak of Covid-19 pandemic and consequent lockdown imposed by the Government, the manufacturing facilities of the Company were temporarily shut down during the start of the current year. These facilities were opened in a phased manner in the months of April and May 2020 as the lockdown conditions were relaxed. Accordingly, sales volume of the current year is impacted, although cement demand has been progressively recovering over the year with improved prices. As at the year end, the country is again witnessing surge in Covid-19 cases referred to as second wave of pandemic. Although, the Government of India has ruled out a nationwide lockdown as of now, local and regional lockdowns / restrictions are implemented in certain areas. In these circumstances, safety of our employees continues to be our key priority.

Further, in view of such highly uncertain economic environment which is continuously evolving, the Company has considered the possible effects that may result from Covid-19 pandemic in the preparation of these financial results including the recoverability of carrying amounts of financial and non-financial assets. The Company has used internal and external sources of information for such assessment at the date of approval of these financial results and does not anticipate any challenge in the Company's ability to continue as a going concern. The impact of pandemic on the Company’s financial results in subsequent periods is highly dependent on the situations as they evolve, and the eventual impact may differ from that estimated as at the date of approval of these financial results.



8 During the period, the Company has reclassified mining expenditure incurred for limestone extraction from other expenses to cost of raw materials consumed for better presentation taking into consideration the nature of underlying expenditure. Comparative figures of previous periods / year have also been reclassified to make them comparable with the current period’s / year figures. The above reclassification has no effect on the net profit/equity of the Company.

9 The results for the quarter and year ended on March 31, 2021 are also available on the Company's website www.orientcement.com, BSE website: www.bseindia.com and NSE website: www.nseindia.com.


Notes:

1.Property,plant and Equipment include right of use assets - Rs 125.01 Lacs.

2.Other non-current assets include income tax assets - Rs 590.34 Lacs.

3.Other current liabilities include Other liabilities- Rs 8716.43 Lacs and Contract Liabilities- Rs 3545.04 Lacs.