PRIVI SPECIALITY CHEMICALS LIMITED Annual Report 2020-21

12 PRIVI SPECIALITY CHEMICALS LIMITED (Formerly known as Fairchem Speciality Limited) DIRECTORS’ REPORT Your Directors’ are pleased to present the Thirty Sixth Annual Report along with audited financial statements – both Standalone and Consolidated of the Company for the financial year ended March 31, 2021. These financial statements have been prepared in accordance with Indian Accounting Standards (Ind-AS) as required under the Companies Act, 2013 (“the Act”). This report states compliance as per the requirements of the Act, the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) and other rules and regulations as applicable to the Company. FINANCIAL RESULTS: ( ` in Lakhs) Particular Standalone for the Year ended on Consolidated for the year ended on 31-03-2021 31-03-2020 31-03-2021 31-03-2020 Total Income 1,27,511.08 1,32,092.44 1,29,652.22 1,35,047.20 Profit before Exceptional Item Interest & Depreciation & Taxation 22,488.03 23,781.04 22,753.96 24,351.36 Less: Interest 2,123.57 3,346.87 2,141.02 3,410.91 Profit before Exceptional Item, Depreciation and Taxation 20,364.46 20,434.17 20,612.94 20,940.45 Less: Depreciation 6,920.27 5,507.52 7,099.96 5,677.16 Profit before Exceptional Item and Taxation 13,444.19 14,926.65 13,512.98 15,263.29 Add: Exceptional Item 2,309.26 4,000.00 2,309.26 4,000.00 Profit before Tax for the year 15,753.45 18,926.65 15,822.24 19,263.29 Less: Provision for Taxation: (a) Current Tax 4,011.18 4,906.69 4,146.97 4,952.27 (b) Deferred Tax 40.12 (367.58) (14.79) (277.77) (c) Tax adjustment of earlier years (Net) – (14.15) – (14.15) Sub-total 4,051.30 4,524.96 4,132.18 4,660.35 Profit after Tax for the year 11,702.15 14,401.69 11,690.06 14,602.94 Add: Other Compressive Income (6.98) (68.99) (57.56) 63.07 Total comprehensive income for the year 11,695.17 14,332.70 11,632.50 14,666.01 Earnings per share (EPS) of ` 10/- each 29.96 36.87 29.93 37.38 OPERATIONS AND THE STATE OF COMPANY’S AFFAIRS (CONSOLIDATED): During the year under review, the consolidated revenue from operations and other income was ` 1,29,652.22 Lakhs (Previous year ` 1,35,047.20 Lakhs). The Company achieved consolidated profit before tax of ` 15,822.24 Lakhs (Previsous year ` 19,263.29 Lakhs) and profit after tax & Other Compressive Income of ` 11,632.50 Lakhs (Previsous year ` 14,666.01 Lakhs). The EPS on Consolidated financial statements for the year ended March 31, 2021 was ` 29.93 (Previsous year ` 37.38) on diluted basis. Pursuant to the order of NCLT dated 30.06.2020 approving the Composite Scheme of Arrangement and Amalgamation amongst Fairchem Speciality Limited (Demerged/Transferee Company), Fairchem Organics Limited (Resulting Company) and Privi Organics India Limited (Transferor Company) and their respective Shareholders, the business of Privi Organics India Limited got merged into Fairchem Speciality Limited, therefore, there is a change in the activities of the Business wherein now the Company is involved in the manufacturing, supplying and exporting of aroma and fragnance chemicals. The business of Fairchem Speciality Limited i.e. the manufacturing of Oleo Chemicals and nutraceuticals was demerged into Fairchem Organics Limited.