PRIVI SPECIALITY CHEMICALS LIMITED Annual Report 2020-21

189 Annual Report 2020-21 CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS (b) Additional information required by Schedule III: Name of entity in group Net assets (total assets minus total liabilities) Share in profit and (loss) Share in other comprehensive income Share in total comprehensive income As % of consolidated net assets Amount As % of consolidated profit and (loss) Amount As % of consolidated other comprehensive income Amount as % of consolidated total comprehensive income Amount Parent Privi Speciality Chemicals Limited March 31, 2021 98.81% 71,394.20 100.10% 11,702.15 12.13% (6.98) 100.54% 11,695.17 March 31, 2020 98.50% 60,284.97 98.62% 14,401.69 (109.39)% (68.99) 0.00% 14,332.70 Subsidiaries Privi Biotechnologies Private Limited (Indian) March 31, 2021 5.13% 3,703.84 -1.49% (174.43) 0.00% (6.28) (1.55)% (180.71) March 31, 2020 6.38% 3,903.51 -0.84% (123.20) 0.00% – (0.84)% (123.20) Privi Organics USA, Corporation ('Foreign) March 31, 2021 2.69% 1,941.36 2.97% 346.94 76.96% (44.30) 2.60% 302.64 March 31, 2020 2.68% 1,638.72 0.82% 120.12 209.39% 132.06 1.72% 252.18 Adjustments arising out of consolidation March 31, 2021 (7.83)% (4,787.50) (1.58)% (184.60) 0.00% – (1.59)% (184.60) March 31, 2020 (7.56)% (4,621.86) 1.40% 204.33 0.00% – 1.39% 204.33 Total March 31, 2021 100.00% 72,251.90 100.00% 11,690.06 100.00% (57.56) 100.00% 11,632.50 March 31, 2020 100.00% 61,205.34 100.00% 14,602.94 100.00% 63.07 2.27% 14,666.01 42 Insurance recoveries towards loss by fire On April 26, 2018 a major fire broke out at the Holding Company’s Unit 2 Plant located at MIDC Mahad. There was loss to the assets comprising of Inventories, Buildings, Plant and Machinery and other Fixed Assets, etc. which were adequately insured including coverage towards loss of profit and replacement cost of fixed assets. The Company received Rs. 2,309.26 lakhs and Rs. 4,000 lakhs during the years ended March 31, 2021 and March 31, 2020 respectively on account of Insurance claim which has been disclosed as an exceptional item. The entire Insurance Claim is now settled with the Insurance company, however, an amount of Rs. 809.26 lakhs (Out of Rs. 2309.26 lakhs) of current year is received on April 07, 2021 subsequent to the Year end. Since the final insurance claim is settled and a settlement letter is also issued by Insurance company on or before March 31, 2021 therefore this balance amount of Rs. 809.26 lakhs as above mentioned has been recognised as an exceptional Income in statement of Profit and Loss Account for the year ended March 2021 and shown as receivable from Insurance Company in Balance sheet as on March 31, 2021 as per requirement of the accounting standards. 43 Estimation of uncertainties related to global health pandemic from COVID-19 Government of India announced a Nationwide Lockdown due to Covid-19 Global Pandemic due to which the Holding Company shutdown few of its plants at Mahad & Jhagadia factories (except those involved in manufacture of chemicals used in essential goods) from March 24, 2020 which continued till April 07, 2020. Although sales were partially affected during the period of shutdown, however, impact is not significant. The Company does not foresee significant impact on net realizable value of its current assets. The production and sales is not currently impacted due to supply chain issues. However, given the uncertainty due to Covid-19, the Company would continue to monitor any material changes to future economic conditions and the consequential impact on the financial statements. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended March 31, 2021 (Currency: Indian Rupees in lakhs) 41 Interests in Other Entities (continued)