PRIVI SPECIALITY CHEMICALS LIMITED Annual Report 2020-21

192 PRIVI SPECIALITY CHEMICALS LIMITED (Formerly known as Fairchem Speciality Limited) Particulars April to March 2020 Adjustment on account of demerger April to March 2020 (Restated) INCOME Revenue from operations 1,63,060.56 (30,649.26) 1,32,411.30 Other income 2,669.76 (33.86) 2,635.90 TOTAL INCOME (I) 1,65,730.32 (30,683.12) 1,35,047.20 EXPENSES Cost of materials consumed 1,01,751.22 (19,832.24) 81,918.98 Purchase of stock-in-trade (Traded goods) 270.37 – 270.37 Changes in inventories of finished goods and work-in-Progress (1,242.31) (634.00) (1,876.31) Employee benefits expense 8,053.59 (1,550.16) 6,503.43 Finance costs 4,068.81 (657.90) 3,410.91 Depreciation and amortisation expenses 6,273.11 (595.95) 5,677.16 Other expenses 27,428.97 (3,549.60) 23,879.37 TOTAL EXPENSES (II) 1,46,603.76 (26,819.85) 1,19,783.91 Profit before exceptional items and tax expense (I) - (II) 19,126.56 (3,863.27) 15,263.29 Exceptional Items Insurance recoveries towards loss by fire (refer note 42) 4,000.00 – 4,000.00 Profit before tax expense 23,126.56 (3,863.27) 19,263.29 Tax expenses: Current tax 5,831.16 (878.89) 4,952.27 Tax adjustment of earlier years (10.04) (4.11) (14.15) Deferred tax (327.36) 49.59 (277.77) Total tax expense 5,493.76 (833.41) 4,660.35 Profit for the year (III) 17,632.80 (3,029.86) 14,602.94 45 Specified Bank Note The disclosures regarding details of specified bank notes during the period from November 08, 2016 to December 31, 2016 have not been made in these financial statements since the requirement does not pertain to the financial year ended March 31, 2021. 44 Composite Scheme of Arrangement and Amalgamation amongst Fairchem Speciality Limited (Demerged/Transferee Company) and Fairchem Organics Limited (Resulting Company) and Privi Organics India Limited (Transferor Company) (continued) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended March 31, 2021 (Currency: Indian Rupees in lakhs) The notes referred to above form an integral part of the consolidated financial statements. As per our report of even date attached For B S R & Co. LLP For and on behalf of the Board of Directors Chartered Accountants Firm’s Registration No: 101248W/W-100022 Mahesh Babani D. B. Rao Chairman & Managing Director Executive Director Jayesh T Thakkar DIN: 00051162 DIN: 00356218 Partner Narayan S Iyer Ramesh Kathuria Membership No: 113959 Chief Financial Officer Company Secretary Membership No: 105320 Membership No: A-11214 Mumbai Mumbai Date : May 14, 2021 Date : May 14, 2021