UIJTRAMARINE &

PIGMENTS LTD.
tfl"
MANUFAC]URERS OF INORGANIC PIGMENTS

Ph: oo91 -4ri-261 36700-04 (5 lines) YEARS

exports@ultramarinepigments.net
www.ultramarinepigments.net

01-06-2020
The Manager - Listing Compliance
Department of Corporate Services,
BSE Limited,
P. J. Towers, 25th floor.
Dalal street. fort,
Mumbai - 400 001

Dear Sirs,

Ref: Regulation 30 and 33 of SEBI (Listine Oblieations and Disclosure Requirementsl

Regulations, 20151 Submission of audited financial results for the vear ended 31*
March, 2020.

Scrip Codei 506585

Further to our letter dated ?oth May. 2020, we wish to inform you that the Board of
Directors of our Company at their meeting held today has considered and approved
inter alia:
i) the audited consolidated financial results of the Company and its
subsidiary as per lnd AS for the quarter and year ended March 31, 2020.

ii) the audited standalone financial results of the Company as per lndian
Accounting Standards (lnd AS) for the quarter and year ended March 31.
2020.

iiil the 59n Annual General Meeting of the members of the Company will be
held on Wednesday, July 22, 2020.

I
€NNAI
INDIA

No.556 Vanagaram Road, Ambattur, Chennai - 600 053, lndia

Regd. Office: THIRUMALAI HOUSE, Road No.29, Sion - East, Mumbai - 400 002 rso 9001 / rso
I I
14001 / oHSAS 18001
Pht 022 - 24035137 . 24017834 Fa\: O22 - 2401 1699 CIN: 124224MH1960PLCo1 1 856
 ULTRAMARINE &
PIGMENTS LTD.
tfl' \
MANUFACTURERS OF INORGANIC PIGMENTS

Ph: 0091 -44-26'1 36700-04 (5 lines)

YEARS
exports@ultramarinepi gments.net
www.ultramarinepi gments. net

We are enclosing statement of audited consolidated and standalone financial

results, Segment-wise revenue, results & capital employed, Statement of assets and
l;abilities , statement of Cash ftow for the quarter and year ended 31st March, 2020
together with auditor's report and a declaration under Regulation 33(3Xd) of the
SEBI (Listing Obligations and Disclosure Requirements) amended Regulations, 2016
vide SEBI Circular No. CIR/CFD/CMD/56/2016 dated May 27, 2016

The above information will also available on the website of the Company at
www.u ltramarinepigments.netlinvestors

The meeting was commenced at 11.00 am. and concluded at 3.10 p.m.

We request you to kindly take the same on record.

Thanking you.
Ultra ne& Ltd.,
I

CHENNAI
INOIA :t
ore u rSa hool
mpany ry

Encl: Audited financial results, Auditors report and the declaration.

No. 556 Vanagaram Road, Ambattur, Chennai - 600 053, lndia \s?
*
Hegd. Otfice; THIRUMALAI HOUSE, Road No.29, Sion - East, Mumbai - 400 002 lso 9001 / lso 14001 / oHSAS 18001
Ph: O22 - 24035137 , 24017834 Fax 022 - 2401 1699 CIN: 124224MH'l 960PLCo1 1 856
 UTTRAMARINE & PIGMENTS TIMITED
CIN :124224MH 1950P1C011856
Registered Office:Thirumalai House,Plot No.101/102,Road No.29,Sion(East), Mumbai400-022
Statement of Audited consolidated Results for the Quarter and Year ended 31st March 2020
< in lakhs
Consolidated
Particulars 31-Mar-2020 31-Mar-2020
Sr. No
Audited (Refer Note
Audited
No.5)

I Revenue From Operations 7,350 30,618

I Other lncome 222 L,L52
Total lncome (l+ll) 7,572 3t,770
tv EXPENSES

Cost of materials consumed 3,129 13,415

Changes in lnventories of finished goods and work-in-progress 29 (106)

Employee benefits expense L,t75 4,819
Finance costs 10 110
Depreciation and amortization expense 2tt 862
Other expenses t,282 4908

Total expenses (lV) 5,836 24,008

Profit before exceptional items (lll-lv) 1,736 7 762
vt Exceptional items - Surplus on transfer of lease hold land
vI Profit before tax (V+Vll ,.,735 7,762
v Tax expense:
(1) Current tax (464) (1,887)
(2) Deferred tax (refer note 2) 2L 320
(3) Tax relating to prior years 6 6
tx Profit for the period (Vll-Vtttl 1,299 6,200
x Other Comprehensive lncome
A (i) ltems that will not be reclassified to profit or loss
- Remeasurement of Defined benefit plans 6 (13)
- Equity instruments through other comprehensive income (7,393) (10,931)
A (ii) lncome tax relating to items that will not be reclassified to
profit or loss
- Remeasurement of Defined benefit plans (2) 3
- Equity instruments through other comprehensive income
B (i) ltems that will be reclassified to profit or loss
B (il) lncome tax relating to items that will be reclassified to profit or
loss

xt Total other comprehensive income (A (i - ii) + B(i - iil) (7,389) (10,941)

xI Total comprehensive income for the period (lX+Xl) (6,089) 14,7411
x t Paid- up Equity Share Capital (Face value per share
{2/-} 584 584
xtv (excludint Revaluation Reserves as
Reserves i,e Other Equity
shown in the Balance Sheet of previous years)
37,905
xv Earnings per equity share (Per paid up share of 12)
(1) Basic (in t) 4.44 2L.24
(2) Diluted (in <)
4.44 2L.24
 Notes :

1 statement of Audited financial results ("the Statements") of the Company for the quarter ended 31st March 2020
have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting
held on 1st June, 2020. The reports ofthe statutory auditors are unqualified. The statements have been prepared in
accordance with lndian Accounting Standards ('lnd AS') prescribed under section 133 of the Companies Act, 2013 and in
terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

2 ln terms of the Taxation Laws (amendment) Act, 2019, the Holding company can avail of an irreversible option to pay
at lower rates subject to non-availment of certain exemptions and deductions. The company has opted to avail of
the option, consequent to which the restatement of outstanding deferred tax liabilities have resulted in deferred tax
credit amounting to < 306.85 Lakhs was recognised during period ended 30th September 2019 & inculuded in results
for year ended 31st March, 2020.
3 Effective April 1, 2019, the Holding Company adopted lnd AS 116 "Leases", applied to all lease contracts existing on
ril 1, 2019 using the modified retrospective method and has taken the cumulative adjustment to retained earnings,
onthedateof initial application. Accordingly, compa ratives for the yea r ended March 31,2019 have not been
retrospectively adjusted. On Transition, the adoption the new standard resulted in Recognition of 'Right of Use' of {
877.42 Lakhs and lease liability of Rs.1029.78 takhs. The cumulative effect of a pplying the sta ndard of< 156.47 Lakhs (
Net of deferred credit of { 52.62 Lakhs} was debited to retained earnings net of taxes. The effect of this adoption is
insignificant on the result for the three months & nine months ended December 31, 2019 and earnings per share.

4 A wholly owned subsidiary Company namely, "Ultramarine Specialty Chemicals Limited" was formed on December 9,
2019 to execute as envisaged earliera greenfield projectatan estimated costof<5,120 Lakhs for manufacture of
Pigments at lndustrial park, Naidupet, Nellore District, Andhra Pradesh.

5 The figures for the quarter ended 31st March 2020 are the balancing figures of the holding company between the
udited figures in respect of full financial year, and the unaudited published figures for the 9 months ended 31st
December 2019 of Holding Company.
6 e interim dividend of ( 5.00/- per share of the nominal value of (
2/-each for the financial year ended March 31, 2O2O
declared on 16th March, 2020 and paid to all the eligible shareholders on 3oth March, 2020. Thus the interim
dividend paid is considered as final dividend for the financial year ended 3lst March, 2O2O

7 ln March 2020, the World Health Organisation declared COVID-19 to be a pandemic. There was a disruption of
operations of the holding company due to imposition of lockdown by the Government. The operations of the company
have been resumed in a phased manner in compliance with the directives of both State and Central Governments. The
company has considered both internal and external information while finalizing various estimates in relation to its
nancial statement captions upto the date of approval of the financial statements by the Board of Directors. The actual
impact of the global health pandemic may be different from that estimated as at the date of approval of these financial
statements and the company will continue to closely monitor any material changes to the future economic conditions.

8 As the Company is precenting its consolidated financial results for the first time, the corresponding figures for the
preivous year are not furnished.

BY ORDER OF THE BOARD

FOR UTTRAMARINE & PIGMENTS IIMITED

CHENNAI
INDIA
TARA PARTHASARATHY
Place : Chennai JOINT MANAGING DIRECTOR
Date : lst June 2020 DIN: 07121058

4
 ULTRAMARINE & PIGMENTS LIMITED
CIN:124224MH1960P1C011856
Registered Office:Thirumalai House,Plot No.101/102,Road No.29,5ion(East), Mumbai400-022
Consolidated Segmentwlse Revenue, Results, Assets and tiabilities for the Quarter and Year ended 31st March 2020
t in Lakhs
Consolidated Year ended
Sr No. Particulars 31-Mar-2020 31-Mar-2020
Unaudited Unaudited
1 SEGMENT REVENUE
a Laundry & Allied Products 6,286 26,L79
b lT Enabled Services 1,051 4,400
c Windmill 18 310

TOTAT 7,363 30,889

Less : lnter Segment Revenue (1s) (2711
sArEs/rNcoME FROM OPERATTONS 7,350 30,618

2 SEGMENT RESULTS
a Laundry & Allied Products 1,468 6,158
b lT Enabled Services 289 963
c Windmill (20) 155

TOTAT 1,737 7,216

Less: lnterest and Finance Charges (10) (110)
Less: Unallocated Expenditure/lncome (Net-off) 9 596
Less: Exceptional ltems
TOTAT PROFIT BEFORE TAX L,7t6 7,762

3 Segment Assets
a Laundry & Allied Products 19,084 19,084
b lT Enabled Services 2,0u 2,084
c Windmill 1,001 1,001
d U nallocated Corporate 15,974 15,974
TOTAT SEGMENT ASSETS 38,143 38,143

4 Segment Liabilties
a Laundry & Allied Products 5,947 5,947
b lT Enabled Services 1,04s 1,045
c Windmill LI LI
d Unallocated / Corporate 893 893
TOTAT SEGMENT tIABILITIES 7,896 7,896

BY ORDER OF THE BOARD

RINE & PIGMENTS TIMITED
*f
Place : Chennal
CHENNAI
TNOIA
/a
TARA PARTHASARATHY
Date : 1st June 2020 NT MANAGING DIRECTOR
DIN:07121058

s
 ULIRAMARINE & PIGMENTS UMITED
CIN :124224MH1960P1C011856
Registered Offce:Thirumalai House,Plot No.101/102,Road No,29,Sion(East), Mumbal4OG022
Consolidated Statement of Assets and Liabiliti6 as at 31st March 2020
I ln lakhs
As on
5r. No Paftiaulars 31-Mar-2020
Unaudited
Assett
(1) Non.curent assets
(a) Property, Plant and Equipment 8,454
(b) RiSht of use asset 665
(c) Capital work in progress 3,539
(d) lntangible assets 15
(e) Financial Assets
(i) lnvestments 7,616
(ii)Loans
(iii) Other fina ncial assets 100
(0 Other non-current asseti L,2Aa
21,698

(z) Currant assets

(a) lnventories 3,383
(bl FinancialAssets
(i) lnvestments 2,888
(ii) Trade .eceivables 3,924
(iii) cash and cash €quivalents 7,9r0
(iv) Eank balances otherthan Cash and cash equivalents 68
(v) Loans ,,42E
(vi) Othe6 351
{c) Cu.rent Tax Assets ( Net)
(d) Other current assets 424
76,446

TotalAsiets 38,144

EQUITY AND UABIUNES

Equlty
(a)Eq!ityShare capital 584
{b)Other Equity 29,563
TotalEquity 30,247

LIABIUTIES
(1) Non{urrent liabllities
(a) Financial Liabilities
(i) Sorrowings
2,OE
(ii) Lease liabilities 520
(b) Provisions
97
(c) Deferred tax liabilities (net)
IA
(e) Deferred lncome
35
3,501

(2) Grncnt lhbllhle.

(a) Financial Liabilities
(i) Trade payables
Total outstanding dues of mic.o enterp,ises and rmall enterprises 120
Iotal outstanding dues of creditors other than micro enterp.ises
and small enterprises 2,809
(ii) Lease liabilities 273
(iii) Other financial liabilities 86:l
(b) Othercurrent liabilities
366
(c) Provisions
22
(d) Deferred lncome
3
4395
Total Liabllltles 7,895

Total and Llabilities 38,1114

BY ORDER OF THE BOARD

FOR UI.TRAMARINE & PIGMENTS UMITED

Place : Chennai
Date : 1st lune 2020
TARA PARTHASARATHY
JOINT MANAGING DIRECIOR
DIN:07121058 I
ulrr.mrlE r lh€Eq!!$d!
@

Cab nd frs oF.tha ..iMd.5

1,r62.X2

tl0.!l
oepEirdon .nd afronisrtin erpensa 361.82
(325.3r)
l40r.04)
ele or h.lhdd L.d
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Pdiikh lo. Lra €|Bhmnt (a3.65)
8.d OeB .nd Prdisbn ior eE .H
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R€reauemenr ol d.nn.d bcn€ft lhbrldB (1r.2r)
R*eipt of governh.nt 3.ant lt.a!l
N€r gEitu on sh ot ln6t6ents (22r.101
N€r Bai$ a&]n8 on fh.n.El .grs dni n:t.d.r FVTPL 1.9.9r)
ner eains on foeian .urency t6.etrrB .nd r.:nsLtid (5.9S1
OFadI3 F!ftr h.lon *qttra erirl d.nt-
M@.MB In worLlq odr.l:
ro {lio.eyd..E.* l. or.n ns .*rs:
^dl6tddt! 1555,a7)
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cuftnt fiEn.I3l lo.nt .nd .dva..6 l60.r9)
(22r.6s1
Non<ldenl tina..ial lo.n5 :d adErces 199.30)
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rdBlmni. td l*nr4l.hdEe) h or.ntha .tllhls:
,5t.ro
Orts dlHt fiMBLl lbbltde. {r'l!.z)l
olhs @r@t lbblid6 20.49

C.th a.r.Er.i aEm ofE..d6! 6,635.s2

(lrlsjOl
i.t c8t ahdti, tn or.rtna *tMrl* (A)

C.tt llde lM l4.tlna ..tivltiB

P.rhEl* lor prcpe.ty, pl.nr and €qurpm..t IPPE) litutudin8 c.phat

rc,tln-protB .nd @lltal adEn.s) {a,Lr.951
P.yrEnt ior l.r.nabr. .s*ts (indudlu rn nsibi. a*i5 u.dd
126:!)
Prc@erG lroh 3.L ol Gtoa tand
P.o@edr non d6Doelr ol PPE 4,35
P!rchase ol non clrsl lnEstmnts (a00.m)
i.demptlon of non @trent lnBtftnts 131,3r
Purcha* of curEnt hBt .€nt5 19,195,O)
R.d.mpii[ ol.!r.nr lnElt rsts rlrlt.rt
IIEllaY &..t& li &pantBith (mD&iet 0,,65.r2)
264,53

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c C5lllqt tu
PEc.edilM gor
'td6a-dvtd6
lnSs 2,025.@
P.y@nt ot Le& Llabtthb (2a9.7r)
{r.56)
(!,t44.20)

Il.t c.rh (o*d h) nMn.hg ..rMtiB lcl 1r,525.4a)

rEI ncrEAvloE.nrasal tr casn ( $ rqurvarins ll^l + lll

.lgl ^Ilp

CA5U AI{DCASH EqUVATIIISAIITIC IEG| MT6 OFIHI YEAi

B:l.neswith b.nhln cure.taccounr!& EEFC.ccountsa.d
5:6.70
1.0!,
A.td: Snon-terh b.nl depotits wi6 qhin, Ntu.W of ne th.n !
months .nd lesr rh.n r a ru.th3
caSH ato ca$t IquNAttNTs a5 ptt tolt llo.lt 2,718.19

(lsri AnD c^'fi lquvat Etttl AT lrtE rr{D o, TltE yt^n

B.LnG witt b.nt5 tn .uenr *ou.q EEFC .ccounts .nd d.ro.tr
1,32.75

shct-tem b.nr d.rclts *in dtsi..l tuiurity of Me tn.n

Add: a
mnrt! and L$ ln.n 12 Mths
c sfi axD a.a$t cquvall|tls A5 pti t{()Tt Nd llt 1,969.55

BY ORDTft OF IHT AOAiD

A-+
INOIA

1
 UI,TRAMARINE & PIGME'{TS I.IMITED
CIN:124224MH 1960P1C011855
Regiltered Office:Thirumalai House,Plot No.10V102,Road No.29,Sion(East), Mumbai4ooo22
Telephone :+9 1-22-436862m, t a\'+97-22-24o71685 I 240747 54
Email-cs@uplamb.net, website:www.ultramarinepiSments.net
&tract o, tie Audtt€d Consolldated Flnancial Re$lts tor the quarter and Yeat ended 31st March, 2020
I in Lakhs
Standalon€ Consolidat€d
ri#,t+.rr@
m
Quarter Ended
31-Mar-2020 31-Dec-2019 31-Mar-2019 @E@E@E@
Audited Audit€d
F'qm",1;e1s," Audired

lncome trom operations (net) 7,572 8,370 7,476 ?\no 31,703 1,572 3L.170

Net Profit / (Loss)for the p€riod before Tax (before Erceptionel/ r,736 7,752
L,717 2,118 1,134 7,763 7,445
Extraordinary items)

Net Profft/ (l-oss) for the period before Tax (after Excepdonal / L,737 2,118 1,134 7,763 &036 1,736 7,762
Extraordinary items)

Net Profit / (toss) for the period aft€r tax (after Exceptlonal / 1,300 1,575 745 6,20r 1548 1,299 5,200
Extreordinary items)

Total Com prehensive lncomefor the period (comprisinS of Profit

(Loss)for the p€riod (aftertax)and other comprehensive (6,0891 1,835 (4,74l)) (rL123) 14,7(tl
ncome (after tax)

EquityShare Capital 584 584 584 584 584 584 584

Reserves i,e Other Equity (exdudint Revaluation Reserves as

shown in the Audited BalanceSh€et of prevlous years)
D,ffi 37 5

EarninS Per Share (of Rs.2/- eadr)lfor continuint & dis.ontinued

op€rations)
1. Basic 4.44 5,38 2,55 21.24 19.34 4.44 21.24
Dil!ted 4,q 5.38 2.55 21.24 19.34 4.44 2t.24

Notel

Requkements) Regulation52o1s. The full formal oI the Quarterly tinancjal Results ar€ availeble on th€ Stock &dange website, www.b!€india.com and on company's website
www.ultramsrin€pitm€nts.net

The Audit Committee has reviewed these results and the Eoard of oirectors have approved th€ above r€sults at their meetng held on 1st lune, 2020.

for the 9 months ended 31n Oecember 2019 and 31st Decemeber 2018.

4. Th€ interim dividend of l5,m/- per share of the nominalvalue of {2/€adr for the financjalyear ended March 31, 2O2O was dedared on 16th Mard, 2020 and paid to allthe eli8ible
shareholders on 30th Mardr, 2020. Thus the interh dividend paid is considered as ffnal dividend for the financial year ended 31st Mardt, 2020.

8Y OROER OT THE BOAR

&
UI.TRAMARII{E & PIGMEI{TS UMIIED

CHENNAI
INOIA
-{
TABA PARIIiASARATTIY
Plaae: chennai
Oat. : 1st lune m2O
* NT MANAGING OIRECIOR
DIN:07121058

(
 Brahmayya&co
Chartered Accountants

lndependent Audito/s report on the Annual Consolidated Financial Results pursuant to the Regulation 33
ofthe sEBl (Listing Obligations and Disclosure Requirements) Regulations 2015 as amended

To
The Board of Directors,
Ultramarine & Pigments Limited,

Opinion

We have audited the accompanying consolidated annual financial results of Ultramarine & Pigments Limited
(hereinafter referred to as the'Holding Company'') and its subsidiary (Holding Company and its subsidiary
together referred to as "the Group"), for the quarter ended 31't March, 2020 and for the year ended 3L't
March 2020 ("the Statement"), attached herewith, being submitted by the Holding Company pursuant to the
requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, as amended ('Listing Regulations').

ln our opinion and to the best of our information and according to the explanations given to us, the
statement:

(i) include the financial results of subsidiary company Ultramarine Specialty Chemicals Limited.

(ii) is presented in accordance with the requirements of Regulation 33 of the Listing Regulations in
this regard; and
(iii) give a true and fair view in conformity with the applicable Accounting Standards, other
accounting principles generally accepted in lndia, of consolidated net profitand other
comprehensive income and other financial information of the Group for the quarter ended 31st
March, 2020 and year ended 31st March 2020.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10)
of the Companies Act, 2013 ("Act"). Our responsibilities under those Standards are further described in
the Auditols Responsibilities for the Audit of the Consolidoted Finonciol Results section of our report. We are
independent of the Group, in accordance with the Code of Ethics issued by the lnstitute of Chartered
Accountants of lndia together with the ethical requirements that are relevant to our audit of the financial
statements under the provisions of the Companies Act, 2013 and the Rules thereunder. and we have fulfilled
our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe
that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter
We draw your attention to Note 7 to the consolidated financial results, which describes the management's
assessment of the impact of the outbreak of Coronavirus (Covid-l9) on the business operations of the
Company. The management believes that no adjustments are required in the financial results as it does not
impact the current financial year. However, in vlew of the highly uncertain economic environment, a
definitive assessment of the impact on the subsequent periods is highly dependent upon circumstances as
they evolve.
Our opinion is not modified in respect of this matter.

q
@) INDIA

\e9 T : +91 - 044 - 281 3 1 1 28 I 38 / 48 | F : +91 - 044 - 281 3 I 1 58

48, Masilamani Road, Balaji Nagar, Royapettah, ".,
E :mail@brahmayya.com I www.brah mayya.com
Chennai - 600 014. lndia.
q
 Brahmryya&co
Chartered Accountants

Management's Responsibilities for the Consolidated Financial Results

These Consolidated financlal results have been prepared on the basis of the consolidated annual financial
statements. The Holding Company's Board of Directors are responsible for the preparation and presentation
of these consolidated financial results that give a true and fair view ofthe net profit and other comprehensive
income and other financial information of the Group in accordance with the lndian Accounting Standards
prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting
principles generally accepted in lndia and in compliance with Regulation 33 of the Listing Regulations. The
respective Board of Directors of the companies included in the Group are responsible for maintenance of
adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of
the Group and for preventing and detecting frauds and other irregularities; selection and applicatlon of
appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the
design, implementation and maintenance of adequate internal financial controls, that were operating
effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation
and presentation ofthe consolidated financial resultsthatgive a true and fairview and are free from material
misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the
consolidated financial results by the oirectors of the Holding Company, as aforesald.

ln preparing the consolidated financial results, the Board of Directors of the com panles included in the Group
are responsible for assessing the abillty of the Group to continue as a going concern, disclosing, as a pplicable,
matters related to going concern and using the going concern basis ofaccounting unless the respective Board
of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but
to do so.
The respective Board of Directors of the companies included in the Group are responsible for overseeing the
financial reporting process of the Group.

Audito/s Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the consolidated financial results as a
whole are free from material misstatement, whether due to fraud or error, and to issue an audito/s report
that includes our opinion, Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit conducted in accordance with SAs will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
consolidated fi nancial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audlt. We also:

o ldentify and assess the risks of material misstatement of the consolidated financial results, whether
due to fraud or error, design and perform audit procedures responsive to those risks, and obtain
audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible
for expressing our opinion on whether the company has adequate internal financial controls with
reference to financial statements in place and the operating effectiveness of such controls.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the Board of Directors.

T r+91- 044'2813 1128 / 181 48 | F :+91- 044 - 2813 1158

48, Masilamani Road, Balaji Nagar, Royapettah,
Chennai - 600 0'14- lndia.
Pr" li E: mail@brahmayya.com I www.brahmayya.com

Io
 Brahmayp&co
Chartered Accountants

Conclude on the appropriateness of the Board of Directors use of the going concern basis of
accounting and, based on the audit evidence obtained, whether a material uncertainty exists related
to events or condltions that may cast significant doubt on the ability of the Group to continue as a
going concern. lf we conclude that a material uncertainty existt we are required to draw attention
in our auditor's report to the related disclosures in the consolidated financial results or, if such
disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence
obtained up to the date of our auditor's report. However, future events or conditions may cause the
Group to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the consolidated financial results,
including the disclosures, and whether the consolidated financial results represent the underlying
transactions and events in a manner that achieves fair presentation.

Obtain sufficient appropriate audit evidence regarding the financial resultsfinancial information of
the entities within the Group to express an opinion on the consolidated Financial Results. We are
responsible for the direction, supervision and performance of the audit of financial information of
such entities included in the consolidated financial results of which we are the independent auditors.

We communicate with those charged with governance of the Holding Company and its subsidiary in the
consolidated financial results of which we are the independent auditors regarding, among other matters, the
planned scope and timing of the audit and significant audit findings, including any significant deficiencies in
internal control that we identify during our audit. We also provide those charged with governance with a
statement that we have complied with relevant ethical requirements regarding independence, and to
communicate with them all relationships and other matters that may reasonably be thought to bear on our
independence, and where applicable, related safeguards.

We also performed procedures in accordance with the Circular issued by the SEBI under Regulation 33(8) of
the ListinB Regulations, as amended, to the extent applicable.

Other Matters

The Financial Results include the results for the quarter ended 31't March 2020, being the balancing figure
between the audited figures in respect of the full financial year and the published unaudited year to date
figures up to the third quarter of the current financial year of the holding company which were subject to
limited review by us and not subject to audit.

For Brahmayya& Co.,

Chartered Accountants
Firm :0005115
CTENIIAI
. NJ. DA
sad
Place: Chennai rtner
Pa
Date: June 01,2020 Membership No: 203377
uDtN : 20203377A/q/qABU2948

48, Masilamani Road, Ealaji Nagar, Royapettah,

T : +91 - 044 - 281 3 1 I 28 I 38 I 48 | F : +91 - 044 - 281 3 I I 58

Chennai - 600 014. lndia. E :mail@brahmayya.com I www.bra hmayya.com

TL
 ULTRAMARINE & PIGMENTS LIMITED
CIN:124224MH1960P1C011856
Registered Office:Thirumalai House,Plot No.101/102,Road No.29,Sion(East), Mumbai400-022
Statement of standalone Audited Results for the Quarter and Year ended 3lst March 2020
I in Lakhs
Quarter Ended Year ended

Sr. No Particulars 31-Ma.-2020 31-oec-2019 31-Mar-2019 31-Mar-2020 31-Mar-2019

Audited (Rcfe. Audlted (Refer
unaudited Audited Audited

I Revenue From Operations 7,350 8,199 7,298 :!0,618 30,685

Other lncome 222 L7t 778 1,L52 L,OL7

u Total lncome (l+ll) 7,572 8,370 7,476 31,770 31,703

tv O(PENSES

Cost of materials consumed 3,729 3,313 3,208 13,415 14,360

Changes in lnventories offinished goods and work-in-
progre5s 29 84 225 (105) (280)

Employee benefi ts expense 1,175 L,269 L,202 4819 4383

Finance costs 10 23 1 110 11
Depreciation and amortization expense 2tt 278 !54 862 582
Other expenser 7,28L 1,345 1,553 4,9O7 5,202

Total expenses (lvl 5,835 6,252 6,343 24,007 24,258

Protit befole excepdonal items (lll-lv) 1,737 2,L78 1,133 7,763 7,4t
Exceptional items - Surplus on transfer of lease hold
vt land 591
v Proflt bcfore tax (V+vt) 1,737 2,118 1,133 7,763 8,036
v t Tax expense:
(1)Current tax {4s} (s41) (3e1) (1,888) 12,tt7l
(2) oeferred tax (refer note 2) (2\
2L 2 tzo L29
(3)Tax relating to prior years 6 6
tx Prorit for the period (V[-V t] 1,300 L,575 745 5,201 5,548
x Other Compreh€nsive lncome
A {i) ltems that will not be reclassified to prolit or
loss
- Remeasurement of Defined benerit plans 5 (71 (40) (131 (26)
- Equity instruments through other comprehensive
income (7,3e3) 266 (10,931)
14,6t2l (16,7541
A (ii) lncome tax relating to items that will not be
reclassified to profit or loss
- Remeasurement of Defined benefit plans
l2l 2 t4 3 9
- Equity instruments through other comprehensive
income

I (l) ltems that will be reclassified to profit or loss

B (ii) lncome tax relating to items that will be
reclassilied to profit or loss

Total other comprehensive income (A (i - iil + B(i -

xt ii)l (7,389) 261 (4,638) (10,9411 116,7771
xI Total comprehensive income for the period (tX+Xt) (6,089) 1,836 (3,893) (11,123)
14,74Ol
Paid- up Equity Sha.e Capital (Face value per share
xIt .21-l 584 584 584 584 584
xtv Reserves i.e Other Equity (excluding Revaluation
Reserver as shown in the Balance Sheet of previous
yearsl 29,664 37,905

XV Earnints p€r equity share (Per pald up share of <2)

(1) Basic (in t) 4.44 s.38 2.55 2,-,24 19.34
(2) Diluted (in 1) 4,44 5.38 2.55 2L.24 19.:t4

12"
 Notes:
L statement of Audited financial results ("the Statements") ofthe Company for the quarter ended 3lst March 2020 have been reviewed by the
Audit Committee and approved by the Board of Directors of the Company at their meeting held on lst June, 2020. The reports of the statutory
auditors are unqualified. The Statements have been prepared in accordance with lndian Accounting Standards ('lnd AS') prescribed under section
133 ofthe Companies Act, 2013 and in terms of Regulation 33 ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

2 ln termsofthe Taxation Laws {amendment) Act, 2019, the company can avail of an irreversible option to pay tax at lower rates subject to non-
ilment of certain exemptions and deductions. The company has opted to avail of the option, consequent to which the restatement of
nding deferred tax liabilities have resulted in deferred tax credit amounting to ? 306.85 Lakhs was recognised during period ended 3fth
September 2019 & inculuded in results for year ended 31st March, 2020.

3 Effedive April 1, 2019, the Company adopted lnd AS 116 "Leases", applied to all lease contracts existing on April 1, 2019 usinS the moditied
retrospective method and has taken the cumulative adjustment to retained earnings, on the date of initial application. Accordingly,
comparatives for the year ended March 31, 2019 have not been retrospectively adjusted. On Transition, the adoption the new standard resulted
in Recognition of'Rlght of Use' of( 877.42 Lakhs and lease liability of < 1029.78 Lakhs. The cumulative effed of applying the standard ofa
156.47 Lakhs ( Net of deferred credit of ? 52.52 Lakhs) was debited to retained earnings net oftaxes. The effed of this adoption is insignificant
on the result for the three months & nine months ended December 31, 2019 and earninSs per share.

4 A whollv owned subsidiarv Company namely, "Ultramarine Specialty Chemica15 Limited" was formed on December 9, 2019 to execute as
envisaged earlier a greenrield project at an estimated cost of < 5,120 Lakhs for manufacture of Pigments at lndustrial park, Naidupet, Nellore
District, Andhra Pradesh.

5 e figures for the quarter ended 3lst March 2020 and 31st March 2019 are the balancing figures between the audited figures in respect of full
ialyear, and the unaudited published figures forthe 9 months ended 31st December 2019 and 3lst Decemeber 2018

6 interim dividend of ? 5.00/- per share of the nominal value of{ 2/-each for the financial year ended March 31, 2020 was declared on 16th
March, 2020 and paid to all the eli8ible shareholders on 30th March, 2020. Thus the interim dividend paid is considered as final dividend for the
financial year ended 31st March, 2020.

7 ln March 2020, the world Health organisation declared COVID-19 to be a pandemic. There was a disruption of operations ofthe company due to
imposition of lockdown by the Government. The operations of the company have been resumed in a phased manner in compliance with the
directives of both State and Central Governments. The company has considered both internal and external information while linalizing various
estimates in relation to its financial statement captions upto the date ofapprovat ofthe financial statements by the Soard of Directors. The
actual impad of the global health pandemic may be different from that estimated as at the date of approval ofthese financiat statements and
the company will continue to closely monitor any material changes to the future economic conditions.

8 The fi8ures for the cotresponding previous periods / year have been regrouped / reclassilied wherever considered necessary to conform to the
figures presented in the current period /year.

BY OROER OF THE EOARD

NE& MENTS LIMITED
P

CHENNAI I RA PARTHASARATHY
Place : Chennai INOIA <,,,
JOt MANAGING DIRECTOR
Date r lst June 2020 DIN:07121058
*

!
 ULTRAMARINE & PIGMENTS LIMITED
CIN:124224MH1960P1C011856
Registered offi ce: Th ruma lai House,Plot No.101/102,Road No.29,Sio n( st), U m ba 40G022
Revenue, Resu Its, Assets a nd Li a bilities for th e Quarter an d Year en ded 31rt M arch 2020
t in l"akht
Quarter Ended Year ended

Sr No. Particulars El[r,tl',iI'rEE@il ErEwttliltil 31-Mar-2020

u
31-Mar-2019

1 SEGMENT REVENUE
Laundry & Allied Products 6,246 7,O82 6,279 26,t79 25,752
a
b lT Enabled S€rvices 1,051 1,111 1,01s 4,400 3,885

c windmill !8 75 35 310 339

TOTAT 7,365 8,258 7,329 30,889 30,976

Less : Inter Revenue
FROM OPERATIONS G 7
31 L

re
2 SEGMET{T RESULTS
a Laundry & Allied Products 1,468 1,856 944 6,158 5,033
b lT Enabled Services 249 105 963 g2
c windmill (20) 11 (8 155 186

TOTAI. L,737 2,114 1,041 7,276 5,861

Less: lnterest and Finance Charges (10) (23) (1) (110) (11)
Less: Unallocated Expenditure/lncome (Net-off) 10 27 93 t:, 595
Less: Exce I ltems
TOTAL PROFIT BEFORE TAX 737 7 763 re 591

3
a
Segment Assets
Laundry & Allied Products 19,084
-rrrG r7,962 13,159 19,084 13,159
b lT Enabled Services 2,OU r,97r 7,r42 2,084 L,L42
c Windmill 1,001 1,009 I,023 1,001 1,023
d Unallocated 15 75 23,899 27,7s9 L5,975 27,159
TOTAL SEGMENT ASSETS

4 Segment Liabilties
Laundry & Allied Products
-.nil-14-+:!rEEE
5,947 4,538 2,866
-TM-Elr*r
a 5,947 2,866
b lT Enabled Services 1,045 1,133 368 1,045 368
c Windmill 11 1 11 11 11
d lJnallocated 893 7,349 893 349
TOTAT SEGMENT I.IABILITIES 7 735 7 4,594

BY ORDER OF THE BOARO

ULTRAMARINE & PIGMENTS LIM
&
-l-
CHENNAI
Place : Chennai INOIA TARA PARTHAsARATHY
Date : lst lune 2020 JOINT MANAGING DIRECTOR
OIN:07121058

t4
 UITRAMARINE & PIGME?{TS LIMIrED
CIN :124224MH1960P1C011856
Registered office:Thirumalai House,Plot No.101/102,Road No.29,Sion(East), Mumbai400-022
Statement ot Assets and Liabiliti€s as at 31st March 2020
< in Lakhs

As on As on
Sr. No Particulars 31-Mar-2020 31-Mar-2019
Unaudited Audited
Assets
(1) Non-cullent assets
(a) Property, Plant and Equipment 8,454 7,U2
(b) Right of use asset 666
{c) Capital work in progress 3,s39 248
(d) lntangible assets 15 2t
(e) Financial Assets
(i) lnvestments 7,617 18,499
(ii) Loans 300
(iii) Other flnancial assets 100 1
(fl Other non-current assets 1,28 1,399
2!,699 28,310
t2l Current assets
(a) lnventories 3,383 2,777
(b) FinancialAssets
(i) lnvestments 2,888 4,70L
(ii) Trade receivables 3,9U 3,303
(iii)Cash and cash equivalents 1,968 2,779
(iv) Bank balancer otherthan Carh and cash equival 58 70
(v) Loans sA2s 760
(vi) Others *2 259
(c) Current Tax Asrets ( Net) 48
(d) Other current assets 424 196
15,445 74,773
Total Assets 34,144 43,083

EqUTTY AND I.JABIUTIES

Equity
(alEquity Share capital 584 584
(b)Other Equity 29,64 37,905
Total Equity 30,244 38,489
LIABIUTIES
(1) Non-current liabilitles
(a) Financial Uabilities
(i) Borrowings 2,025
(ii) Lease liabilities 520
(b)Provisions 97 107
(c) Defered tax liabilities (net) 724 7,097
(e) Deferred lncome 35 38
3,501 1,242
(2) Current llabilities
(a) Financial Liabilities
(i) Trade payables
Total outstanding dues of micro enterprises and
120 2a
small enterprises
Total outstanding dues ofcreditors other than
micro enterprises and small enterprises
2,&9 2,159
(ii) Lease liabilities 27:J
(iii) Other financial liabilities 863 786
(b) Other current liabilities 355 343
(c) Provisions 22 33
(d) Deferred lncome 3 3
4,39s 3,tsz
Total Liabilities 7,496 4,594
Total Equity and Liabillties 38,144 43,083

BY OROER OF THE BOARO

& PIGMENTS TIMITED

CHENNAI
INOIA /"'--*
TARA PARTHAARAT}IY
Place : Chennai JOINT MANAGING DIRECTOR
Oate : lst .lune 2020 DIN:07121058
15
!h4!d!!-3-1re!!ts-UE&!
st.nd.lde ltat 6.nt of esh fiowr for th€ E.r.nd.d 3ln. M.(h 2020

C.$ nw tm op.r.rha ..tr,lt'E

3,036.55

t!0.14 10.99
Dep.<iinin and .nlorli5abn qp.lg t!tr: 541.57
(!2i.r7) (203.63)
(4O9.04) (409.39)
Pront on ek ot ka*hold h.d (591.21)
k@l5ro. lo. Lee €n$tm.t 12r.55)
B.d Oeott ad Pdilion io, spe.te<l .Edh lo$ t7.6'
tlel a.inr on dBp@l ol prcprty, phnl .nd equipmnl 15.29
R.m..ruremst .l d.ii.ed b..efir ll.b ni6 (8,27) (25.27)
Rel9l of SMhrenrgrant 13..1) (3.a2)
Net 8.in3 on ele ot lnEtncnE 1r27.10) 1215,771
r.ln, .rBlnx 6 frn.n.j.l &r3 dahn.lcd .r wIPt
r,ler (49.9r) (91.63)
tl.t !.lnr
on ioretn Gure.cl t ans-tbn! and m.sLrlon I5.9s) (7.21)
Op*nlt ,retit b.6o.. rntlrt ..flr.| c[.ni6 7,ro{.gs 7,043.57

M@lmi' h,ortlttoCEl:
Adlolr-n fo. lrraya.oa. h o9.Edra -4ni
{655.311 (208.35)
{649.rtr) 1696.79)
Cur.nt fh.n.d loant and adhne! l5o,59l {68.14
l22r.5S) 64,82
xon{or6t fs.Nbl b.B ..d Jv..Ee. 199.!a) 7.11
Olhs tlol@@t.sls (!.22) lr.5r)
AdrBh.nt ld rmh.r./(!h.ttel tn oFndry ti.h/tfi|.rl
(574.3s)
odr.r drEm tr@dC ltDiliri6 lrir-19) 54.51
Oli.r dlffit liabiin . 11.29

C.th tln.nt d lren .Fr.doE 6,63!t.r7 5,576.10

0rt5ro) 12,556.O9)

ia.t orh ad6t f6 d or.ndnr.dn id.! (Al 3,020.01

I
lcat nd. ftrn hE dr xtl'rlrls
I
P.yftnr Lr prep.ny, pr.{r and €qurpmt lpPEl {ln.lut tng Cip'rat
M.lnn-9roa6 eplt l .dEE.,
.nd (a,rt,.9sl (1,390.63)
t.yfienr for inr.n&bl. s*rs (includlnr Inr.nribt. dsrs undet
(15-l'l 129.25)
PrGdr lon qL ., crM alrl I
l_194.15
Prc.ee4 liom disp6.lt ol PPE 8.:r5 1.35
PuEh& olm d drlnwi* (2@.@l 1227-e5l
lnv.ilrnB l. Sub3ldl.ry l!.oot
Redemptbn ol non cur.nt incrE^rt !]}Lila 2,185.90
PuEl& dmd henk
6f
19,r95.@) (17p11.80)
sat€nDtron ol @tr6i kEEmts uta4.78 $427.e9
(lcror)/ dElE4 h d.po.h *nh @hr.nk5 P,t55.12) 1a16.35)
25a,53 134.0!
,o939

Lt e.t l6.il rn) hBdtrl ..dvtrt . (31

13,373.73) /.223.1A

c.5h tlo, ftn nMd.r sdvtd.3

P.o@& trom BotrNtnAs 2,025.00
P.yment ol 1..* LiabilirLs l2l9.7r)
lrr.55l uo.ee)
(3ga.r0l {1495.09)

lvet ..rh IG.d h) finan.rna ..tMdB lcl {r,625.4a {1,507.03

xfrftcnt rv(oEciE^sat u c S ArlD (rst Eqlwartltrs lt^) + ls}

+ lcll 1750.39)

clsllAxD(rgtEQutvalfltsatllttaEctti tN6oFI'lEyE A
B.lrn6 whn b.nk rn .!,enr e!.ri & EErc *.ou.!i .ni
536.70 323.60
1.tD
Add: Sho.r-tEm b.nr deposirs win on,h.r matu.ity ot moe than 3
monihs and les rh.n 12 mon.ng
CASII AXO CASH EqUN^tttrS AS PfR ilolI t{o.I3 1,429.!O

c^st{ Axo ( 5ll Equn AlItrs aTTHa ato of THE yaai

8al.nc6 wtth binll h curent eoun&, €€rc a@lnrs .nd deposh
,"3t1.51 535.70
la0 7_O4
Ston-tem b.ol d.po3iB *ih oriSin.t n3turity ot mre tll:n 3
Arld:
nMth3 .nd le$ th.. 12 Nntht 5:t5.@ 2,$1m
cIsH AflD a^$i EQU|VAITTS a5 pEt ioE tto t3 2,1t4.19

rY oaDat oc ttt Bo rD
,a utltr raariE & plcaaE ,t!i lgrED
J -.e*
INOIA / rAr P rn s rarrt
,' JO ,T Ata GnC rXrfcror
oft: oa2to5a
,t

1b
 BrahmaylR&co.
Chartered Accountants

lndependent Audito/s report on the Standalone Financial Results pursuant to the Regulation 33 of the
SEBI (tisting Obligations and Disclosure Requirements) Regulations 2015 as amended'

To
The Board of Directors,
Ultramarine & Pigments Limited

Opinion

We have audlted the accompanying statement of Standalone financial results of Ultramarine & Pigments
timited ("the Company'') for the quarter ended 31i March, 2020 and for the year ended 31't March 2020
(the "statement"),attached herewith, being submitted by the Company pursuant to the requirement of
Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
('Listing Regulations').

ln our opinion and to the best of our information and according to the explanations given to us, the Statement

(i) is presented In accordance with the requirements of Regulation 33 of the Listing Regulations in
this regard; and

(ii) give a true and fair view in conformity with the recognition and measurement prlnciples laid down
in the applicable accounting standards and other accounting principles generally accepted in lndia,
of the net profit and other comprehensive income and other financial information of the Company
for the quarter ended 31't March, 2020 and for the year ended 31st March 2020.

Basis for Opinion

We conducted our audit In accordance with the Standards on Auditing (SAs) specified under section 143(10)
of the Companles Act, 2013 ("Act"). Our responsibilities under those Standards are further described in
lhe Auditot's Responsibilities for the Audit of the Stondolone Finonciol Resu/ts section of our report. We are
independent of the Company in accordance with the Code of Ethics issued by the lnstitute of Chartered
Accountants of lndia together with the ethical requirements that are relevant to our audit of the financial
statements under the provisions of the Com panies Act, 2013 and the Rules thereunder, and we have fulfilled
our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe
that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter

We draw your attention to Note 7 to the standalone financial results, which describes the management's
assessment of the impact of the outbreak of Coronavirus (Covid-l9) on the business operations of the
Company, The management believes that no adjustments are required in the financial results as it does not
impact the current financial year. However, in view of the highly uncertain economic environment, a
definitive assessment of the impact on the subsequent periods is highly dependent upon circumstances as
they evolve. Our opinion is not modified in respect of this matter.

Y4

CiIENNAI
INOIA p
T : +9'l - 044 - 281 3'l 1 28 1 38 / 48 | F : +91- 0,14 - 281 3 1 1 58
48, Masilamani Road, Balaji Nagar, Royapettah,
Chennai - 600 014. lndia.
E : mail@brahmayya.com I www.bri ,n^uW,
 Brahmayp&co
Chartered Accountants

Manatement's Responsibilities for the Standalone Financial Results

The Standalone financial results have been prepared based on the Standalone Annual Flnancial Statements.
The Board of Directors of the Company are responsible for the preparation and presentation of the
Standalone financial results that give a true and fair view of the net profit and other comprehensive income
and other financial information in accordance with the recognition and measurement principles laid down in
lndian Accounting Standards prescribed under Section 133 of the Act and other accounting principles
generally accepted in lndia and in compliance with Regulatlon 33 of the Listing Regulations. This
responsibility also included maintenance of adequate accounting records in accordance with the provisions
of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other
irregularities; selection and application of appropriate accounting policies; making judgments and estimates
that are reasonable and prudenu and the deslgn, implementation and maintenance of adequate internal
financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting
records, relevant to the preparation and presentation of the Standalone financial results that give a true and
fair view and are free from material misstatement, whether due to fraud or error.

ln preparing the Standalone financial results, the Board of Directors are responsible for assessing the ability
of the Company to continue as a going concern, disclosinB, as applicable, matters related to going concern
and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the
Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are responsible for overseeing the financial reporting process of the Company.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our ob.iectives are to obtain reasonable assurance about whether the Standalone financial results as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit
conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements
can arise from fraud or error and are considered material if, individually or in the aggregate, they could
reasonably be expected to influence the economic decisions of users taken on the basis of the Standalone
financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:

ldentify and assess the risks of material misstatement of the Standalone financial results, whether
due to fraud or error, design and perform audit procedures responsive to those risks, and obtain
audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances. Under Section 143(3) (i) ofthe Act, we are also responsible
for expressing our opinion on whether the company has adequate internal financial controls with
reference to financial statements in pla eo perating effectiveness of such controls.
$A r',y4
a T: +91- 044 - 28'13 1 '128 / 38 / 48 | F: +91- 044'2813 I I58
48, Masilamani Road, Balaji Nagar, Royapeftah, d*^
Chennai - 600 014. lndia.
c
IND A
E :mail@brahmayya.com I www.brahm
"1{
ACc
 Brahmayya&co
Chartered Accountants

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the Board of Directors.

. Conclude on the appropriateness of the Board of Directors use of the going concern basis of
accounting and, based on the audit evidence obtained, whether a material uncertainty exists related
to events or conditions that may cast significant doubt on the ability of the company to continue as
a going concern. lf we conclude that a material uncertainty exists, we are required to draw attention
in our auditor's report to the related disclosures in the Standalone financial results or, if such
disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence
obtained up to the date of our audito/s report. However, future events or conditions may cause the
Company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content

ofthe Standalone financial results, including
the disclosures, and whether the Standalone financial results represent the underlying transactions
and events in a manner that achieves fair presentation.

Obtain sufficient appropriate audit evidence regarding the Standalone Financial Results of the
Company to express an opinion on the Standalone Financial Results.

We communicate with those charged with governance, among other matters, the planned scope and timing
of the audit and significant audit findings, including any significant deficiencies in internal control that we
identify during our audit.

We also provide those charged with Bovernance with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence, and where applicable, related
safeguards.

Other Matter

The statement includes the results for the quarter ended 31't March, 2020 and the corresponding quarter
ended in the previous year are the balancing figures between the audited figures in respect of the full
financial year and the published year to date figures up to the end of third quarter of the relevant financial
year. The figures up to the third quarter ended 31n December of the relevant financial year were only
subjected to limited review by us and not subjected to audit.

For Brahmayya& Co,,

Chartered Accountants
Firm Regn No: 0005115 Y4

R",
R,Nagendra ra
I

CEENNAI
]ND A p
Place: Chennai rtner
Pa
o Acc
Date: June 01, 2020 Membership No: 203377
UDIN : 202033774tutuq8T9485

48, Masilamani Road, Balaji Nagar, Royapettah, T:+9'f - 044 - 2813 11281381 48 | F:+91- 044- 28131158
Chennai - 600 014. lndia. E :mail@brahmayya.com I www.Uranmal.fl
[iI ULTRAMARINE &
PIGMENTS LTD.
MANUFACTURERS OF INORGANIC PIGMENTS
556, Vanagaram Road,
Ambattur, chennai - 600 053. lndia.
Phone : 0091.{4- 26136700 - 26136704 (5 Lines}
Fax : 009144-26821201
E-Mail : exports@ultramarinsPigments.net
Wsbsite : www.ultramarinePigments.net
CIN : L24224MH1960PLC011856

01-06-2020

The Manager -
Listing Compliance
Department of Corporate Services,
BSE timited,
Towers, 25th floor,
P. J.
Dalal street, fort,
Mumbai - 400 001

Dear Sirs,

Sub: Declaration pursuant to Reeulation 33( 3xdl of the SEBI (tistinE ObliEations and
Disclosure Requirements) {Amendment) Resulations. 2016 and SEBI Circular No.
ctR/cFp/cMp/s5/2015.
pEcTARATTOS

In compliance to Regulation 33(3Xd) of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations. 2015 as amended by the SEBI (Listing Obligations and
Disclosure Requirements) Regulations 2016 and SEBI Circular No. CIR/CFD/CMD{56|20\6
dated May 27, 2016, I hereby declare that Brahmayya & Co, Chartered Accountants
(FRN- 0005115), Statutory Auditors of our Company, have issued an Audit Report with
unmodified opinion on Audited Financial Results of the Company for the quarter and year
ended March 31, 2020.

Kindly take this declaration on your records.

For U ne & Pigments umited..

A-- t
S. Ra
Chief Fina c ial Officer

Certified towards QMS 9001 / ISO 14001 / OHSAS 18001

Regd. Office : THIRUMALAI HOUSE

Road No.29, Sion - East, Mumbai - 400 022. \?
Rospon!ibla Caro^
2r0
Phone : 022 - 24035137,24017834 Fax:022 - 2401 1699