Pureplay Skin Sciences - Annual Report - FY21

NOTICE
NOTICE IS HEREBY GIVEN THAT THE EIGHTH ANNUAL GENERAL MEETING OF

THE COMPANY WILL BE HELD ON THURSDAY, THE 30TH OF SEPTEMBER, 2021 AT
5.00 P.M., AT A SHORTER NOTICE, THROUGH VIDEO CONFERENCING TO
TRANSACT THE FOLLOWING BUSINESS:
ORDINARY BUSINESS:
1. To consider and adopt the audited financial statements of the Company for the financial year
ended on 31st March 2021, along with the reports of the Board of Directors and the Auditors
thereon.
By the order of the Board

For Pureplay Skin Sciences (India) Private Limited
Place: Thane Sethuram Shankarprasad Punathembekar

Date: 28th September, 2021 Director
DIN: 03336729
NOTES:
a. In view of the continuing COVID-19 pandemic, the Ministry of Corporate Affairs (“MCA”) has
vide its circular nos. 14/2020 and 17/2020 dated April 8, 2020 and April 13, 2020 respectively, in
relation to “Clarification on passing of ordinary and special resolutions by companies under the
Companies Act, 2013 and the rules made thereunder on account of the threat posed by Covid-19”,
circular no. 20/2020 dated May 5, 2020 in relation to “Clarification on holding of annual general
meeting (AGM) through video conferencing (VC) or other audio visual means (OAVM)” and
Circular no. 02/2021 dated January 13, 2021 in relation to “Clarification on holding of annual
general meeting (AGM) through video conferencing (VC) or other audio visual means (OAVM)”
(collectively referred to as “MCA Circulars”) permitted the holding of the Annual General Meeting
(“AGM”) through VC, without the physical presence of the Members at a common venue. In
compliance with the MCA Circulars, the AGM of the members of the Company is being held
through VC. The registered office of the Company shall be deemed to be the venue for the AGM.
b. A member entitled to attend and vote at the meeting is entitled to appoint a proxy and vote instead
of himself and the proxy need not be a member. Since this AGM is being held pursuant to the
MCA Circulars through VC, physical attendance of Members has been dispensed with.
Accordingly, the facility for appointment of proxies by the Members will not be available for the e-
AGM and hence the Proxy Form, Attendance Slip and route map of the AGM are not annexed to
this Notice.
c. Corporate shareholders (i.e., other than individuals, HUF, NRI, etc.) are required to send a scanned
copy (PDF / JPG Format) of their respective Board or governing body Resolution / Authorization
etc., authorizing their representative to attend the AGM through VC on their behalf enabling
themselves to vote. The said Resolution /Authorization shall be sent to the Chief Financial Officer
of the company by e-mail on his registered e-mail address - gaurav.sarda@teampureplay.com with
a copy marked to sprasad@teampureplay.com.
d. In compliance with MCA Circular No. 20/2020 dated 5 May 2020 and Circular No. 02/2021 and
owing to the difficulties involved in dispatching of physical copies of the financial statements
including Board’s Report, Auditor’s report or other documents required to be attached therewith
(together referred to as the Annual Report), the Annual Report for Financial year ended 31 st
March, 2021 and Notice of the AGM are being sent in electronic mode to the Members whose e-
mail address is registered with the Company
e. Members attending the meeting through VC shall be counted for the purpose of reckoning the
quorum under Section 103 of the Act.
f. Link of zoom to connect with scheduled Annual General Meeting (“Meeting”) is given below:
https://zoom.us/j/9987615086.
g. Process during the meeting and Voting:
 The facility of joining the meeting shall be open 15 minutes before the time scheduled i.e. at
4.45 P.M. at the start of the meeting and shall not be closed till the expiry of 15 minutes after
the scheduled time.
 This facility allows members to pose questions concurrently. Also, in case members require
to submit any questions in advance, they may do so on the e-mail address of the company at
sprasad@teampureplay.com.
 For those shareholders who need assistance with using the technology before or during the
meeting, they may contact at gaurav.sarda@teampureplay.com, Help line No.: +91 98205
98805.
For and on behalf of the Board

Pureplay Skin Sciences (India) Private Limited
SethuramShankarprasadPunathembekar
Director
DIN: 03336729
Date: 28th September, 2021

Place: Thane
BOARD’S REPORT
To
The Members,
Pureplay Skin Sciences (India) Private Limited
Thane, Maharashtra
Your Directors have pleasure in presenting the Eight Annual Report together with the Financial
Statement for the financial year from 1st April, 2020 to 31st March, 2021 along with the Report of
Directors including annexure thereto and Report of Auditor's thereon.
1. STATEMENT OF AFFAIRS:
The Company’s financial performance for the financial year ended as on 31st March, 2021 is
summarized below:
(Amount in Rs.)
Particulars 31st March, 2021 31st March, 2020
Income from Operations (Including other Income) 91,82,75,806 53,16,71,568
Total Expenses 95,08,98,449 51,44,58,605
Profit before Tax (3,26,22,643) 1,72,12,962
Profit after Tax (3,18,30,629) 1,27,76,012
Balance carried to Balance sheet (3,18,30,629) 1,27,76,012
1.1 PERFORMANCE AND OPERATIONS:
During the financial year ended as on 31st March, 2021, the Company recorded a total revenue of
91,82,75,806 (Previous financial year 53,16,71,568) and recorded net loss after taxes (after
considering an amount towards depreciation in accordance with provisions of Schedule II of the
Companies Act, 2013) of 3,18,30,629 (Previous Year profit of 1,27,76,012).
1.2 FUTURE OUTLOOK:
Your company is considering expanding its capacities from the existing level to further improve the
performance.
2 EVENTS SUBSEQUENT TO THE DATE OF FINANCIAL STATEMENTS TILL THE

DATE OF DIRECTORS REPORT:
There are no significant material changes and commitments affecting financial position between 31st
March, 2021 and the date of Board’s Report.
3 CHANGE IN THE NATURE OF BUSINESS, IF ANY:
Your Company has not changed the nature of Business during the financial year under review.
4 DIVIDEND:
Your Directors do not propose any dividend during the financial year under review.
5 TRANSFER TO RESERVES:
The directors have transferred the profit component after tax to reserves during the financial year under
review.
6 BOARD MEETINGS:
9 (Nine) Board Meetings were held during the year, the details of the same are given below:
S. No. Date of Board Meeting Venue of the Meeting Time

1. 07/05/2020 Virtual Meeting 05.00 PM
Number of Board Meetings attended by each Director during the financial year 2020-21:
S. No. Name of Director Designation No. of Board

Meetings attended
1. Sethuram Shankarprasad Punathembekar Director 9
2. Prasanya Chennapatnam Director 1
3. Pawan Chaturvedi Nominee 9
Director
4. Sameer Shroff Director 2
7 DIRECTORS AND KEY MANAGERIAL PERSONNEL:
The board of directors appointed Mr. Sameer Shroff (DIN: 02848581) as an Additional Director,
nominee for Faering Capital India Evolving Fund II and Faering Capital India Evolving Fund III with
effect from 27th November, 2020 and in the extraordinary general meeting held on 27th November,
2020, he was appointed as a Director.
8 STATEMENT ON DECLARATION GIVEN BY THE INDEPENDENT DIRECTORS:
Since the Company is a Private Company, appointment of Independent directors as per sub section (4)
of section 149 of the Companies Act, 2013, is not mandatory to your Company.
9 COMPOSITION OF AUDIT COMMITTEE:
The provisions of Section 177 (1) of the Companies Act, 2013 regarding the constitution of Audit
Committee are not applicable to the company.
10 COMPANY’S POLICY ON DIRECTORS’, KMP’S & OTHER EMPLOYEES

APPOINTMENT AND REMUNERATION:
Since the Company is private company, the Section 178(3) of the Companies Act, 2013 and the
provisions relating to the constitution of Nomination and Remuneration Committee are not applicable.
However, the Company has taken reasonable care while appointing officials including the Directors and
the Key Managerial Personnel who possess the requisite qualifications and attributes.
11 DIRECTOR’S RESPONSIBILITY STATEMENT:
Pursuant to Section134 (5) of the Companies Act, 2013, the Directors confirm that:
(i) In the preparation of the annual accounts for the year ended 31st March, 2021 the applicable
accounting standards had been followed along with proper explanation relating to material
departures;
(ii) the directors had selected such accounting policies and applied them consistently and made
judgments and estimates that are reasonable and prudent so as to give a true and fair view of
the state of affairs of the company at the end of the financial year 31 st March, 2021 and of the
loss of the company for that period;
(iii) the directors had taken proper and sufficient care for the maintenance of adequate accounting
records in accordance with the provisions of this Act for safeguarding the assets of the
company and for preventing and detecting fraud and other irregularities;
(iv) the directors had prepared the annual accounts for the period ended 31st March, 2021 on a
going concern basis.
(v) the directors had devised proper systems to ensure compliance with the provisions of all
applicable laws and that such systems were adequate and operating effectively.
(vi) the directors had laid down internal financial controls to be followed by the company and that
such internal financial controls are adequate and were operating effectively.
12 NAMES OF THE SUBSIDIARIES/ASSOCIATES/JOINT VENTURES:
There are no Subsidiaries/Associates/Joint Ventures of your Company.
13 EXTRACT OF ANNUAL RETURN:
As required pursuant to Section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies
(Management and Administration) Rules, 2014, copy of the annual return is required to be on the
website of the company. Further the website of the Company is under development for making
appropriate changes with respect thereto.
14 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN

EXCHANGE EARNINGS &OUTGO:
As required by the provisions of Companies Act, 2013, the relevant information pertaining to
conservation of energy, technology absorption and foreign exchange earnings and outgo are given
under:
14.1 CONSERVATION OF ENERGY:
• Steps taken on Conservation of Energy and impact thereof: Conservation of energy is an

ongoing process in the Company. Every effort is made towards optimum utilization of energy.
Efforts are also directed towards eliminating wastage in all areas of operations.
• Steps taken by the company for utilizing alternate sources of energy: Nil.
• Capital investment on energy conservation equipment: There are no substantial additional
investments and proposals for reduction in energy consumption at present. The same will be
undertaken as and when necessary by the Company.
14.2 TECHNOLOGY ABSORPTION:
i) Efforts were made towards technology absorption: Nil
ii) Benefits derived as a result of the above efforts, e.g. product improvement, cost reduction,
product development, import substitution: Nil
iii) In case of imported technology (imported during the last 3 years reckoned from the beginning
of the financial year), following information may be furnished:
a) Details of technology imported - Nil

b) Year of import - Nil
c) Whether the technology been fully absorbed - Nil
d) If not fully absorbed, areas where absorption has not taken
e) place, and the reasons therefore - Nil
iv) Expenditure incurred on Research and Development - Nil
14.3 FOREIGN EXCHANGE EARNINGS & OUTGO:
During the year under review, the Company has the following Foreign Exchange Earnings & Outgo:
Amount (In Rs.)

S. No. Particulars As on 31st March, 2021 As on 31st March, 2020
1. Foreign Exchange Inflow/Earnings 23,68,204 19,782
2. Foreign Exchange Outgo 11,82,26,965 7,48,60,500
15 DETAILS OF COMPANY’S CORPORATE SOCIAL RESPONSIBILITY:
The provisions of the Corporate Social Responsibility as contained under Section 135 of the Companies
Act, 2013 are not applicable to the Company.
16 INDUSTRIAL RELATIONS:
Industrial relations during the period under review remained cordial.
17 DETAILS RELATING TO DEPOSITS:
The following are the details relating to deposits as covered under chapter V of the Companies Act,
2013:
• Deposits accepted during the year: Nil
• remained unpaid or unclaimed as at the end of the year: Nil
• whether there has been any default in repayment of deposits or payment of interest thereon
during the year and if so, number of such cases and the total amount involved-
(i) at the beginning of the year; Nil
(ii) maximum during the year; Nil
(iii) at the end of the year; Nil
the details of deposits which are not in compliance with the requirements of Chapter V of the Act: Nil.
18 EXPLANATIONS OR COMMENTS BY THE BOARD ON EVERY QUALIFICATION,
RESERVATION OR ADVERSE REMARK OR DISCLAIMER MADE BY THE AUDITOR
IN HIS REPORT:
The Auditors report does not include any qualification.
19 DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SUB -

SECTION (12) OF SECTION 143:
The Auditors have not reported any offence involving fraud committed against the Company by the
officers or employees of the Company under sub section (12) of section 143 to the Audit Committee or
the Board.
20 SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS, COURTS

AND TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY’S
OPERATIONS IN FUTURE:
There are no significant and material orders that were passed by the regulators or courts or tribunals
against your Company.
21 ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERNECE TO THE

FINANCIAL STATEMENTS:
Your Company has effective ‘internal financial controls’ that ensure an orderly and efficient conduct of
its business, including adherence to company’s policies, safeguarding of its assets, prevention and
detection of frauds and errors, accuracy and completeness of the accounting records, and timely
preparation of reliable financial information.
There are adequate controls relating to strategic, operational, environmental and quality related aspects
too.
While these controls have been effective through-out the year, these are reviewed on a periodic basis
for any changes/ modifications to align to business needs.
22 PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE BY THE

COMPANY:
There are no loans given, guarantee/security provided or investments made by the Company to any
person or body corporate during the Financial year pursuant to Section 186 of Companies Act, 2013.
23 RISK MANAGEMENT:
As a diversified enterprise, your Company continues to focus on a system-based approach to business

risk management. The management of risk is embedded in the corporate strategies of developing a
portfolio of world-class businesses that best match organizational capability with market opportunities,
focusing on building distributed leadership and succession planning processes, nurturing specialism and
enhancing organizational capabilities through timely developmental inputs.
The Company has initiated procedure for risk assessment and its minimization.
24 PARTICULARS OF EMPLOYEES:
Pursuant to Rule 5 pursuant to the Companies (Appointment and Remuneration Managerial Personnel)
Rule, 2014 of the Companies Act, 2013, there are no employees who are in receipt of remuneration
exceeding Rs. 1,02,00,000/- or more per annum or Rs. 8,50,000/ or more per month or where employed
for a part of the year during the financial year under review.
25 WEB ADDRESS:
The web address of the Company is www.plumgoodness.com.
26 SECRETARIAL AUDITORS:
The provisions of Section 204 of the Companies Act, 2013 and relevant rules made there under are not
applicable to the Company.
27 STATUTORY AUDITORS:
The members in the Annual General Meeting held as on 30th September, 2019 appointed MSKA &
Associates, Chartered Accountants (FRN: 105047W) as the Statutory Auditors of the Company who
shall hold office from the conclusion of the Annual General Meeting held as on 30 th September, 2019
till the conclusion of next five Annual General Meeting. Further, the consent letter stating that they are
not disqualified to be appointed as Statutory Auditors was also received by the Company.
28 COST AUDIT AND COST AUDITORS:
The Cost audit of the Company has not been conducted for the financial year 2020 - 21 as provisions of
Section 148 of the Companies Act, 2013 are not applicable on the Company.
29 RELATED PARTY TRANSACTIONS:
The contracts/arrangements with related parties as specified in sub section (1) of section 188 of the
Companies Act, 2013 during the financial year 2020 –21 are annexed in Form AOC-2.
30 DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMAN AT WORKPLACE

(PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013
As required under the Harassment Act, the following is a summary of sexual harassment during the
financial year 2020 - 21:
S. No. Particulars Remarks

1. Number of sexual harassment complaints received in a year. Nil
2. Number of complaints disposed off during the year. Nil
3. Number of cases pending for more than 90 days. Nil
4. Number of awareness programs or workshops against sexual Nil
harassment conducted during the year.
5. Nature of action taken by the employer or district officer with NA
respect to the cases.
31 CHANGE IN ACCOUNTING POLICY, IF ANY.
There was no change in the accounting policy during the year.
32 SECRETARIAL STANDARDS.
The Company has complied with the applicable Secretarial Standards issued by the Institute of
Company Secretaries of India.
33 BOARD EVALUATION.
Pursuant to the provisions of the Companies Act, 2013, the Board has carried out an evaluation of its
own performance and of its directors individually.
34 HUMAN RESOURCES
Your Company treats its “human resources” as one of its most important assets.
Your Company continuously invest in attraction, retention and development of talent on an ongoing
basis.
Your Company thrust is on the promotion of talent internally through job rotation and job enlargement.
35 ACKNOWLEDGEMENTS:
The Board wishes to place on record its grateful thanks for the assistance and support extended by all
Government Authorities, Banks, shareholders and consultants of the Company.
Your directors express their appreciation for the dedicated and sincere services rendered by the
employees of the Company.
BY ORDER OF THE BOARD

PUREPLAY SKIN SCIENCES (INDIA) PRIVATE LIMITED
CIN: U74120MH2013PTC248969
Prasanya Chennapatnam Sethuram P Shankarprasad

Director Director
DIN: 06647528 DIN: 03336729
Place: Thane Place: Thane

Date: 28 September, 2021 Date: 28 September, 2021
602, Floor 6, Raheja Titanium
Western Express Highway, Geetanjali
Railway Colony, Ram Nagar, Goregaon (E)
Mumbai 400063, INDIA
Tel: +91 22 6831 1600
INDEPENDENT AUDITOR’S REPORT
To the Members of Pureplay Skin Sciences (India) Private Limited
Report on the Audit of the Financial Statements
Opinion
We have audited the financial statements of Pureplay Skin Sciences (India) Private Limited (“the
Company”), which comprise the Balance sheet as at March 31, 2021, and the Statement of profit and
loss and Statement of cash flows for the year then ended, and notes to the financial statements,
including a summary of significant accounting policies and other explanatory information.
In our opinion and to the best of our information and according to the explanations given to us, the
aforesaid financial statements give the information required by the Companies Act, 2013 (“the Act”)
in the manner so required and give a true and fair view in conformity with the Accounting Standards
prescribed under section 133 of the Act read with Companies (Accounts) Rules, 2014 as amended and
other accounting principles generally accepted in India, of the state of affairs of the Company as at
March 31, 2021, and loss and its cash flows for the year ended on that date.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section
143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor’s
Responsibilities for the Audit of the Financial Statements section of our report. We are independent
of the Company in accordance with the Code of Ethics issued by the Institute of Chartered
Accountants of India (“ICAI”) together with the ethical requirements that are relevant to our audit
of the financial statements under the provisions of the Act 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 we have obtained is sufficient and appropriate to provide
a basis for our opinion.
Emphasis of Matter
We draw attention to Note 40 to the financial statements which states that the management has
made an assessment of the impact of COVID-19 on the Company’s operations, financial performance
and position as at and for the year ended March 31, 2021 and has concluded that there is no material
impact which is required to be recognised in the financial statements. Accordingly, no adjustments
have been made to the financial statements.
Our opinion is not modified in respect of this matter.
Information Other than the Financial Statements and Auditor’s Report Thereon
The Company’s Board of Directors is responsible for the other information. The other information
comprises the Director’s report but does not include the financial statements and our auditor’s report
thereon.
Head Office: 602, Floor 6, Raheja Titanium, Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E), Mumbai 400063, INDIA, Tel: +91 22 6831 1600
Regd. No. 105047W | Ahmedabad | Bengaluru | Chennai | Goa | Gurugram | Hyderabad | Kochi | Kolkata | Mumbai | Pune www.mska.in
Tel: +91 22 6831 1600
Our opinion on the financial statements does not cover the other information and we do not express
any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with
the financial statements or our knowledge obtained in the audit or otherwise appears to be materially
misstated. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact. We have nothing to
report in this regard.
Responsibilities of Management and Those charged with Governance for Financial Statements
The Company’s Board of Directors is responsible for the matters stated in section 134(5) of the Act
with respect to the preparation of these financial statements that give a true and fair view of the
financial position, financial performance and cash flows of the Company in accordance with the
accounting principles generally accepted in India, including the accounting Standards specified under
section 133 of the Act. This responsibility also includes 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 of
accounting policies; making judgments and estimates that are reasonable and prudent; and design,
implementation and maintenance of adequate internal financial controls, that were operating
effectively for ensuring the accuracy and completeness of the accounting records, relevant to the
preparation and presentation of the financial statement that give a true and fair view and are free
from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Board of Directors is responsible for assessing the
Company’s ability to continue as a going concern, disclosing, 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.
Those Board of Directors are also responsible for overseeing the Company’s financial reporting
process.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements 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 these financial statements.
We give in “Annexure A” a detailed description of Auditor’s responsibilities for Audit of the Financial
Statements.
Tel: +91 22 6831 1600
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor’s Report) Order, 2016 (“the Order”), issued by the Central
Government of India in terms of sub-section (11) of section 143 of the Act, we give in “Annexure
B” a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent
applicable.
2. As required by Section 143(3) of the Act, we report that:
a. We have sought and obtained all the information and explanations which to the best of our
knowledge and belief were necessary for the purposes of our audit.
b. In our opinion, proper books of account as required by law have been kept by the Company
so far as it appears from our examination of those books.
c. The Balance sheet, the Statement of profit and loss and the Statement of cash flow dealt
with by this Report are in agreement with the books of account.
d. In our opinion, the aforesaid financial statements comply with the Accounting Standards
specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules,
2014.
e. On the basis of the written representations received from the directors as on March 31, 2021
taken on record by the Board of Directors, none of the directors is disqualified as on March
31, 2021 from being appointed as a director in terms of Section 164 (2) of the Act.
f. With respect to the adequacy of the internal financial controls with reference to financial
statements of the Company and the operating effectiveness of such controls, refer to our
separate Report in “Annexure C”.
g. With respect to the other matters to be included in the Auditor’s Report in accordance with
Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of
our information and according to the explanations given to us:
i. The Company does not have any pending litigations which would impact its financial
position;
ii. The Company did not have any long-term contracts including derivative contracts for
which there were any material foreseeable losses;
iii. There were no amounts which were required to be transferred to the Investor Education
and Protection Fund by the Company.
Tel: +91 22 6831 1600
3. In our opinion, according to information, explanations given to us, the provisions of Section 197
of the Act and the rules thereunder are not applicable to the Company as it is a private company.
For MSKA & Associates

Chartered Accountants
ICAI Firm Registration No. 105047W
Ankush Agrawal
Partner
Membership No. 159694
UDIN: 21159694AAAAEB5321
Place: Mumbai
Date: September 28, 2021
Tel: +91 22 6831 1600
ANNEXURE A TO THE INDEPENDENT AUDITOR’S REPORT ON EVEN DATE ON THE FINANCIAL

STATEMENTS OF PUREPLAY SKIN SCIENCES (INDIA) PRIVATE LIMITED
Auditor’s Responsibilities for the Audit of the Financial Statements
As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:
 Identify and assess the risks of material misstatement of the financial statements, 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 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 management.
 Conclude on the appropriateness of management’s 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 Company’s ability to continue as a
going concern. If we conclude that a material uncertainty exists, we are required to draw
attention in our auditor’s report to the related disclosures in the financial statements 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 Company to cease to continue as a going concern.
 Evaluate the overall presentation, structure and content of the financial statements, including
the disclosures, and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
We communicate with those charged with governance 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.
Tel: +91 22 6831 1600
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.

Ankush Agrawal
Partner
Place: Mumbai
Tel: +91 22 6831 1600
ANNEXURE B TO INDEPENDENT AUDITORS’ REPORT OF EVEN DATE ON THE FINANCIAL STATEMENTS

OF PUREPLAY SKIN SCIENCES (INDIA) PRIVATE LIMITED FOR THE YEAR ENDED MARCH 31, 2021
[Referred to in paragraph 1 under ‘Report on Other Legal and Regulatory Requirements’ in the
Independent Auditors’ Report]
i.
(a) The Company has maintained proper records showing full particulars including quantitative details
and situation of fixed assets (Property, plant and equipment).
(b) Fixed assets (Property, plant and equipment) have been physically verified by the management
during the year and no material discrepancies were identified on such verification.
(c) According to the information and explanations given to us, there are no immovable properties,
and accordingly, the requirements under paragraph 3(i)(c) of the Order are not applicable to the
Company.
ii. The inventory (excluding stocks with third parties) has been physically verified during the year by
the management. In respect of an inventory lying with third parties, these have substantially been
confirmed by them. In our opinion, the frequency of verification is reasonable. No material
discrepancies were noticed on verification between the physical stock and the book records.
iii. The Company has not granted any loans, secured or unsecured to Companies, Firms, Limited
Liability Partnerships (LLP) or other parties covered in the register maintained under section 189
of the Companies Act, 2013 (‘the Act’). Accordingly, the provisions stated in paragraph 3 (iii) (a)
to (c) of the Order are not applicable to the Company.
iv. In our opinion and according to the information and explanations given to us, the Company has
not either directly or indirectly, granted any loan to any of its directors or to any other person in
whom the director is interested, in accordance with the provisions of section 185 of the Act and
the Company has not made investments through more than two layers of investment companies in
accordance with the provisions of section 186 of the Act. Accordingly, provisions stated in
paragraph 3(iv) of the Order are not applicable to the Company.
v. In our opinion and according to the information and explanations given to us, the Company has
not accepted any deposits from the public within the meaning of Sections 73, 74, 75 and 76 of the
Act and the rules framed there under.
vi. The provisions of sub-section (1) of section 148 of the Act are not applicable to the Company as
the Central Government of India has not specified the maintenance of cost records for any of the
products of the Company. Accordingly, the provisions stated in paragraph 3 (vi) of the Order are
not applicable to the Company.
Tel: +91 22 6831 1600
vii.
(a) According to the information and explanations given to us and the records of the Company
examined by us, in our opinion, undisputed statutory dues including provident fund, employees’
state insurance, income-tax, duty of custom, goods and service tax, cess and other statutory
dues have not been regularly deposited with the appropriate authorities and there have been
serious delays in large number of cases.
(b) According to the information and explanations given to us, no undisputed amounts payable in
respect of provident fund, employees’ state insurance, income-tax, duty of custom, goods and
service tax, cess and other statutory dues were outstanding, at the year end, for a period of
more than six months from the date they became payable.
(c) According to the information and explanation given to us and the records of the Company
examined by us, there are no dues of income tax, goods and service tax, customs duty, cess and
any other statutory dues which have not been deposited on account of any dispute.
viii. In our opinion and according to the information and explanations given to us, the Company has
not defaulted in repayment of dues to the debenture holders. The Company does not have any
loans or borrowings from any financial institution, banks or government during the year.
ix. The Company did not raise any money by way of initial public offer or further public offer
(including debt instruments) and term loans during the year. Accordingly, the provisions stated in
paragraph 3 (ix) of the Order are not applicable to the Company.
x. During the course of our audit, examination of the books and records of the Company, carried
out in accordance with the generally accepted auditing practices in India, and according to the
information and explanations given to us, we have neither come across any instance of material
fraud by the Company or on the Company by its officers or employees.
xi. According to the information and explanations given to us, since the Company is a private
company, the provisions of section 197 of the Act will not be applicable. Accordingly, the
provisions stated in paragraph 3(xi) of the Order are not applicable to the Company.
xii. In our opinion and according to the information and explanations given to us, the Company is not
a Nidhi company. Accordingly, the provisions stated in paragraph 3(xii) of the Order are not
applicable to the Company.
xiii. According to the information and explanations given to us and based on our examination of the
records of the Company, transactions with the related parties are in compliance with section 188
of the Act. The details of such related party transactions have been disclosed in the financial
statements. Further, the Company is not required to constitute an Audit Committee under section
177 of the Act, and accordingly, to the extent, the provisions stated in paragraph 3 (xiii) of the
Order is not applicable to the Company.
xiv. According to the information and explanations given to us and based on our examination of the
records of the Company, the Company has made private placement of shares during the year and
the requirements of Section 42 of the Act have been complied with. The funds are raised for
general business purpose and has not been fully utilised by the Company.
Tel: +91 22 6831 1600
xv. According to the information and explanations given to us and based on our examination of the
records of the Company, the Company has not entered into non-cash transactions with directors
or persons connected with him. Accordingly, provisions stated in paragraph 3(xv) of the Order are
not applicable to the Company.
xvi. In our opinion, the Company is not required to be registered under section 45 IA of the Reserve
Bank of India Act, 1934 and accordingly, the provisions stated in paragraph clause 3 (xvi) of the
Order are not applicable to the Company.

ICAI Firm Registration Number: 105047W
Ankush Agrawal
Partner
Place: Mumbai
Tel: +91 22 6831 1600
ANNEXURE C TO THE INDEPENDENT AUDITOR’S REPORT OF EVEN DATE ON THE FINANCIAL

STATEMENTS OF PUREPLAY SKIN SCIENCES (INDIA) PRIVATE LIMITED
[Referred to in paragraph 2(f) under ‘Report on Other Legal and Regulatory Requirements’ in the
Independent Auditors’ Report of even date to the Members of Pureplay Skin Sciences (India) Private
Limited on the Financial Statements for the year ended March 31, 2021]
Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the
Companies Act, 2013 (“the Act”)
We have audited the internal financial controls with reference to financial statements of Pureplay
Skin Sciences (India) Private Limited (“the Company”) as of March 31, 2021 in conjunction with our
audit of the financial statements of the Company for the year ended on that date.
Management’s Responsibility for Internal Financial Controls
The Company’s Management is responsible for establishing and maintaining internal financial controls
based on the internal control with reference to financial statements criteria established by the
Company considering the essential components of internal control stated in the Guidance Note on
Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered
Accountants of India (ICAI) (the “Guidance Note”). These responsibilities include the design,
implementation and maintenance of internal financial controls that were operating effectively for
ensuring the orderly and efficient conduct of its business, including adherence to Company’s policies,
the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and
completeness of the accounting records, and the timely preparation of reliable financial information,
as required under the Act.
Auditors’ Responsibility
Our responsibility is to express an opinion on the Company's internal financial controls with reference
to financial statements based on our audit. We conducted our audit in accordance with the Guidance
Note and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10)
of the Act, to the extent applicable to an audit of internal financial controls. Those Standards and
the Guidance Note require that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether internal financial controls with reference to financial
statements was established and maintained and if such controls operated effectively in all material
respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal
financial controls with reference to financial statements and their operating effectiveness. Our audit
of internal financial controls with reference to financial statements included obtaining an
understanding of internal financial controls with reference to financial statements, assessing the risk
that a material weakness exists, and testing and evaluating the design and operating effectiveness of
internal control based on the assessed risk. The procedures selected depend on the auditor’s
judgement, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error.
Tel: +91 22 6831 1600
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our audit opinion on the Company’s internal financial controls with reference to financial
statements.
Meaning of Internal Financial Controls With reference to Financial Statements
A Company's internal financial control with reference to financial statements is a process designed to
provide reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally accepted accounting
principles. A Company's internal financial control with reference to financial statements includes
those policies and procedures that (1) pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and dispositions of the assets of the company;
(2) provide reasonable assurance that transactions are recorded as necessary to permit preparation
of financial statements in accordance with generally accepted accounting principles, and that
receipts and expenditures of the company are being made only in accordance with authorizations of
management and directors of the company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets
that could have a material effect on the financial statements.
Inherent Limitations of Internal Financial Controls With reference to financial statements
Because of the inherent limitations of internal financial controls with reference to financial
statements, including the possibility of collusion or improper management override of controls,
material misstatements due to error or fraud may occur and not be detected. Also, projections of
any evaluation of the internal financial controls with reference to financial statements to future
periods are subject to the risk that the internal financial control with reference to financial
statements may become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.
Opinion
In our opinion, the Company has, in all material respects, internal financial controls with reference
to financial statements and such internal financial controls with reference to financial statements
were operating effectively as at March 31, 2021, based on the internal control with reference to
financial statements criteria established by the Company considering the essential components of
internal control stated in the Guidance Note.

Ankush Agrawal
Partner
Place: Mumbai
BALANCE SHEET AS AT MARCH 31, 2021
(Amount in Rs.)
Note As at As at
Particulars
No March 31, 2021 March 31, 2020
EQUITY AND LIABILITIES
Shareholders’ funds
Share capital 3 6,76,934 2,96,270
Reserves and surplus 4 1,08,12,80,466 18,52,90,167
1,08,19,57,400 18,55,86,437
Non-current liabilities
Other long term liabilities 5 1,00,000 2,00,000
Long-term provisions 6 37,01,297 17,23,028
Long term borrowings 7 10,63,33,334 -
11,01,34,631 19,23,028
Current liabilities
Short-term borrowings 8 - 13,51,146
Trade payables 9
Total outstanding dues of micro enterprises and small enterprises; and 1,21,13,925 31,55,067
Total outstanding dues of creditors other than micro enterprises and small enterprises 12,89,61,705 5,96,10,813
Other current liabilities 10 6,74,92,010 26,65,296
Short-term provisions 6 1,61,255 77,419
20,87,28,895 6,68,59,741
TOTAL 1,40,08,20,926 25,43,69,206
ASSETS
Non-current assets
Property, plant and equipment
Tangible assets 11 90,62,117 54,74,074
Intangible assets 12 2,40,810 2,75,213
Intangible assets under development 1,50,000 -
Deferred tax assets (net) 13 20,28,609 9,77,212
Long-term loans and advances 14 1,57,10,708 81,04,557
Other non-current assets 15 1,95,00,000 1,07,46,564
4,66,92,244 2,55,77,620
Current assets
Current investments 16 53,01,78,642 3,07,54,876
Inventories 17 26,76,10,090 7,64,90,221
Trade receivables 18 13,39,04,418 6,85,23,645
Cash and bank balances 19 34,19,65,931 3,08,59,617
Other current assets 20 8,04,69,601 2,21,63,227
1,35,41,28,682 22,87,91,586
TOTAL 1,40,08,20,926 25,43,69,206
Summary of significant accounting policies 2
The accompanying notes are an integral part of the financial statements

As per our report of even date
For MSKA & Associates For and on behalf of the Board of Directors of
Chartered Accountants Pureplay Skin Sciences (India) Private Limited
Firm Registration No.:105047W CIN: U74120MH2013PTC248969
Ankush Agrawal Sethuram P Shankarprasad Prasanya Chennapatnam Gaurav Sarda

Partner Director Director Chief Financial Officer
Membership No: 159694 DIN: 03336729 DIN: 06647528
Place: Mumbai Place: Thane Place: Thane Place: Thane

Date: 28 September, 2021 Date: 28 September, 2021 Date: 28 September, 2021 Date: 28 September,
2021
STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED MARCH 31, 2021
(Amount in Rs.)
Note Year ended Year ended
Particulars
No March 31, 2021 March 31, 2020
Income:
Revenue from operations 21 90,56,51,700 52,31,66,478
Other income 22 1,26,24,105 85,05,090
Total revenue 91,82,75,805 53,16,71,568
Expenses:
Purchases of stock-in-trade 23 46,30,19,750 22,58,76,444
Changes in inventories of stock-in-trade 24 (19,11,19,869) (3,44,82,730)
Employee benefits expense 25 8,09,32,622 4,84,90,372
Finance costs 26 1,18,74,988 5,73,533
Depreciation and amortization expense 27 16,95,821 10,26,503
Other expenses 28 58,44,95,135 27,29,74,486
Total expenses 95,08,98,447 51,44,58,608
Profit / (loss) before tax (3,26,22,642) 1,72,12,960
Tax expense:
Current tax - 53,22,943
Deferred tax benefit 13 (10,51,397) (8,85,993)
Tax adjustment pertaining to prior years 2,59,384 -
(7,92,013) 44,36,950
Profit / (loss) for the year (3,18,30,629) 1,27,76,010
Earnings per equity share [Nominal value per share Rs.10]:

Basic 33 (3,125.43) 1,255.38
Diluted (2,334.92) 1,247.17
The accompanying notes are an integral part of the financial statements



Date: 28 September, 2021 Date: 28 September, Date: 28 September, Date: 28 September, 2021
2021 2021
CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2021
Particulars Year ended Year ended

March 31, 2021 March 31, 2020
Cash flow from operating activities

Profit/(loss) before tax (3,26,22,642) 1,72,12,960
Adjustments for:
Interest expenses 1,18,74,988 5,73,533
Depreciation and amortization expense 16,95,821 10,26,503
Employee stock option scheme 12,27,842 7,83,801
Interest income (46,20,250) (15,42,167)
Gain on sale of mutual funds units (62,45,270) (65,35,088)
Deferred expenses written off - 20,75,546
Unrealized foreign exchange gain / loss (net) (17,58,585) 3,75,027
Operating profit / (loss) before working capital changes (3,04,48,096) 1,39,70,115
Changes in working capital:
Increase in inventories (19,11,19,870) (3,44,82,730)
Increase in trade receivables (6,53,80,772) (3,19,06,005)
Increase in other non-current assets (87,53,436) (5,18,887)
Increase in long-term loans and advances (1,67,484) (5,77,600)
Increase in other current assets (5,83,06,374) (1,60,64,221)
Increase in trade payables 8,00,68,336 4,44,58,136
Increase / (decrease) in other long term liabilities (1,00,000) 1,50,000
Increase in other current liabilities 34,93,380 9,20,659
Increase in provisions 20,62,105 3,19,669
Cash used in operating activities (26,86,52,211) (2,37,30,864)
Income taxes paid 76,98,051 1,19,12,901
Net cash used in operating activities (A) (27,63,50,262) (3,56,43,765)
Cash flow from investing activities

Purchase of property, plant and equipment (53,99,461) (40,47,602)
Proceeds from maturity / sale of units of mutual funds 63,24,36,029 10,80,35,088
Investments in units of mutual funds (1,12,56,14,525) (5,00,35,088)
Interest received 46,20,250 13,33,797
Investment in fixed deposits with original maturity for more than 3 months (31,38,29,488) (2,07,46,564)
Net cash generated from / (used in) investing activities (B) (80,77,87,195) 3,45,39,631
Cash flow from financing activities

Proceeds from issue of shares and share application money 92,69,73,750 -
Proceeds from issue of debentures 17,00,00,000 -
Repayment of debentures (23,33,333) -
Proceeds from / repayment of borrowings (13,51,146) 10,79,934
Interest paid (1,18,74,988) (5,73,533)
Net cash generated from financing activities (C) 1,08,14,14,283 5,06,401
Net decrease in cash and cash equivalents [A+B+C] (27,23,174) (5,97,733)

Cash and cash equivalents at the beginning of the year 3,08,59,617 2,14,57,350
Cash and cash equivalents at the end of the year 2,81,36,443 2,08,59,617
Cash and cash equivalents comprise (refer note 19)

Balances with banks 2,81,30,591 8,56,359
Cash on hand 5,852 3,258
Deposits with original maturity of less than three months - 2,00,00,000
Total cash and cash equivalents as at end of the year 2,81,36,443 2,08,59,617
Notes:
1. The above Cash flow statement has been prepared under the indirect method set out in Accounting Standard-3, "Cash Flow Statement" notified under section 133 of the
Companies Act 2013, read together with paragraph 7 of the Companies (Accounts) Rules 2014.
2. Cash comprises cash on hand, Current Accounts and deposits with banks. Cash equivalents are short term balances (with an original maturity of three months or less from the
date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of change in value.
3. Figures in brackets indicate outflow.


Date: 28 September, 2021 Date: 28 September, 2021 Date: 28 September, 2021 Date: 28 September,
2021
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2021
1. Corporate Information / Background
Pureplay Skin Sciences (India) Private Limited (the ‘Company) is private company domiciled in India
incorporated on October 8, 2013 under the provisions of Companies Act, 1956. The Company is engaged
in Trading and Marketing of Beauty Care and Grooming Products under the brand name ‘Plum’ ‘Body
Lovin’ and ‘Phy’. The Company sells its products primarily in India through online marketplace,
distributors and modern trade. The Registered Office of the Company is at 1 st Floor, Lodha i-Think
Techno Campus, A Wing, Chirak Nagar, Thane, West, Maharashtra.
2. Summary of significant accounting policies
a. Basis of preparation
The financial statements have been prepared in accordance with generally accepted accounting
principles in India (Indian GAAP) under the historical cost convention on an accrual basis in
compliance with all material aspects of the Accounting Standards (AS) notified under section 133 of
the Companies Act 2013, read together with Rule 7 of the Companies (Accounts) Rules 2014. The
accounting policies adopted in the preparation of financial statements have been consistently
applied except where a newly issued accounting standard is initially adopted or a revision to an
existing accounting standard requires a change in the accounting policy until now (hitherto) in use
with those of previous year.
All assets and liabilities have been classified as current or non-current as per the Company’s
operating cycle and other criteria set out in the Schedule III (Division I) to the Companies Act, 2013.
Based on the nature of products and the time between the acquisition of assets for processing and
their realisation in cash and cash equivalents, the Company has ascertained its operating cycle as 12
months for the purpose of current – non-current classification of assets and liabilities.
b. Use of estimates
The preparation of financial statements requires the management to make judgments, estimates
and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and
disclosure of contingent liabilities, at the end of the reporting period. Although, these estimates are
based on the management’s best knowledge of current events and actions, uncertainty about these
assumptions and estimates could result in the outcomes requiring a material adjustment to the
carrying amounts of assets or liabilities in future periods.
c. Property, plant and equipment
Tangible assets
Tangible assets, capital work in progress are stated at cost, less accumulated depreciation and
impairment losses, if any. Cost comprises the purchase price, borrowing costs, if capitalization
criteria are met and any cost attributable to bringing the assets to its working condition for its
intended use which includes taxes, freight, and installation and allocated incidental expenditure
during construction/ acquisition and exclusive Input tax credit (IGST/CGST and SGST) or other tax
credit available to the Company.
Subsequent expenditure relating to tangible assets is capitalized only if such expenditure results in
an increase in the future benefits from such asset beyond its previously assessed standard of
performance.
Intangible assets
An intangible asset is recognized when it is probable that the future economic benefits attributable
to the asset will flow to the enterprise and where its cost can be reliably measured. Intangible
assets are stated at cost of acquisition less accumulated amortization and impairment losses, if any.
Cost comprises the purchase price and any cost attributable to bringing the assets to its working
condition for its intended use which includes taxes, freight, and installation and allocated
incidental expenditure during construction/ acquisition and exclusive of Input tax credit (IGST/CGST
and SGST) or other tax credit available to the Company.
Subsequent expenditure relating to intangible assets is capitalised only if such expenditure results
in an increase in the future benefits from such asset beyond its previously assessed standard of
performance.
d. Depreciation on property, plant and equipment
Depreciation on property, plant and equipment is calculated on a straight-line basis using the rates
arrived at based on the useful lives prescribed under the Schedule II to the Companies Act, 2013 and
where such lives estimated by the management which are different as compared to those prescribed
under the Schedule II to the Companies Act, 2013. The estimates of useful life of such assets are
based on technical evaluation. The Company has used the following useful lives to provide
depreciation on its property, plant and equipment:
Particulars Useful life in

years
Computer & Servers 3-6
Furniture and fixtures 10
Office equipment 5
Vehicles 8
Plant and Machinery 15
Depreciation on addition to tangible assets is provided on pro-rata basis from the date the assets
are ready for intended use. Depreciation on sale/discard from tangible assets is provided for upto
the date of sale, deduction or discard of tangible assets as the case may be.
e. Amortization of Intangible assets
Amortization of intangible assets has been calculated on straight line basis at the following rates,
based on management estimates, which in the opinion of the management are reflective of the
estimated useful lives of the Intangible assets.
Particulars Useful life in years

Computer Software 10
Trademark 10
Amortization on addition to intangible assets is provided on pro-rata basis from the date the assets
are ready for intended use. Amortization on sale/discard from intangible assets is provided for upto
the date of sale, deduction or discard of intangible assets as the case may be.
f. Impairment of assets
The carrying amounts of assets are reviewed at each balance sheet date if there is any indication of
impairment based on internal/external factors. An impairment loss is recognised wherever the
carrying amount of an asset exceeds its recoverable amount. The recoverable amount is the greater
of the assets’ net selling price and value in use. In assessing value in use, the estimated future cash
flows are discounted to their present value at the weighted average cost of capital.
After impairment, depreciation/amortization is provided on the revised carrying amount of the
asset over its remaining useful life.
g. Borrowing costs
Borrowing cost includes interest, amortization of ancillary costs incurred in connection with the
arrangement of borrowings and exchange differences arising from foreign currency borrowings to
the extent they are regarded as an adjustment to the interest cost.
Borrowing costs that are directly attributable to the acquisition, construction or production of an
asset that takes a substantial period of time to get ready for its intended use are capitalized. All
other borrowing costs are recognised as expenditure in the period in which they are incurred.
h. Foreign currency translation
Initial recognition:
Foreign currency transactions are recorded in the reporting currency by applying the exchange rate
between the reporting currency and the foreign currency at the date of the transaction.
Conversion:
Foreign currency monetary items are reported using the closing rate. Non-monetary items which are
carried in terms of historical cost denominated in a foreign currency are reported using the
exchange rate at the date of the transaction; non-monetary items which are carried at fair value or
other similar valuation denominated in a foreign currency are reported using the exchange rates
that existed when such values were determined.
Exchange differences:
Exchange differences arising on the settlement of monetary items or on reporting the Company’s
monetary items at rates different from those at which they were initially recorded during the year,
or reported in previous financial statements, are recognised as income or as expenses in the year in
which they occur.
i. Investments
Accounting treatment:
Investments, which are readily realizable and intended to be held for not more than one year from
the date on which such investments are made, are classified as current investments. All other
investments are classified as long-term investments.
On initial recognition, all investments are measured at cost. The cost comprises purchase price and
directly attributable acquisition charges such as brokerage, fees and duties. If an investment is
acquired, or partly acquired, by the issue of shares or other securities, the acquisition cost is the
fair value of the securities issued. If an investment is acquired in exchange for another asset, the
acquisition is determined by reference to the fair value of the asset given up or by reference to the
fair value of the investment acquired, whichever is more clearly evident.
Current investments are carried in the financial statements at lower of cost and fair value
determined on an individual investment basis. Long-term investments are carried at cost. However,
provision for diminution in value is made to recognize a decline other than temporary in the value
of the investments.
On disposal of an investment, the difference between its carrying amount and net disposal proceeds
is charged or credited to the Statement of Profit and Loss.
j. Revenue recognition
Revenue is recognised to the extent, that it is probable that the economic benefits will flow to the
Company and the revenue can be reliably measured.
Revenue from sale of goods

Revenue from sale of goods is recognised when the significant risks and rewards of ownership of the
goods are transferred to the buyer and are recorded net of trade discounts, rebates, Sales Tax,
Value Added Tax, Goods and Service Tax.
Interest income
Interest Income is recognised on a time proportion basis taking into account the amount outstanding
and applicable interest rate.
k. Retirement and other employee benefits
Defined contribution plan

The Company makes defined contribution to Employee Provident Fund and ESI, which are
recognized in the Statement of profit and loss on accrual basis.
The Company has no further obligations under these plans beyond its monthly contributions.
Defined Benefit Plan- Gratuity

The Company provides for gratuity, a defined benefit plan covering eligible employees in
accordance with the Payment of Gratuity Act, 1972. The Gratuity Plan provides a lump sum
payment to vested employees at retirement, death, incapacitation or termination of employment,

of an amount based on the respective employee’s salary and the tenure of employment. The
Company’s liability is actuarially determined (using the Projected Unit Credit method) at the end of
each year. Actuarial losses/gains are recognised in the Statement of profit and loss in the year in
which they arise.
Other long-term benefits – Leave encashment

Accumulated compensated absences, which are expected to be availed or encashed within 12
months from the end of the year end are treated as short term employee benefits. The obligation
towards the same is measured at the expected cost of accumulating compensated absences as the
additional amount expected to be paid as a result of the unused entitlement as at the year end.
Accumulated compensated absences, which are expected to be availed or encashed beyond 12

months from the end of the year are treated as other long-term employee benefits. The Company’s
liability is actuarially determined (using the Projected Unit Credit method) at the end of each year.
Actuarial losses/gains are recognised in the Statement of profit and loss in the year in which they
arise.
l. Cash and cash equivalents
Cash and cash equivalents include cash in hand, demand deposits with banks, other short term
highly liquid investments with original maturities of three months or less.
m. Inventories
Inventories are stated at lower of cost and net realisable value. Cost of inventories is computed on
a FIFO basis. Cost includes purchase price (excluding those subsequently recoverable by the
enterprise from the concerned revenue authorities), freight inwards and other expenditure incurred
in bringing such inventories to their present location and condition.
Provision of obsolescence on inventories is considered on the basis of management’s estimate based

on demand and market of the inventories.
Net realizable value is the estimated selling price in the ordinary course of business, less the
estimated cost of completion and the estimated costs necessary to make the sale. The comparison
of cost and net realizable value is made on item by item basis.
n. Income taxes
Tax expense for the period comprises of current tax, deferred tax and Minimum alternate tax
credit.
Provision for current tax is made on the basis of estimated taxable income for the current
accounting year in accordance with the Income-tax Act, 1961.
Current tax assets and current tax liabilities are offset when there is a legally enforceable right to
set off the recognised amounts, and there is an intention to settle the asset and the liability on a
net basis.
The deferred tax for timing differences between the book and tax profits for the year is accounted
for, using the tax rates and laws that have been substantively enacted as of the reporting date.
Deferred tax charge or credit reflects the tax effects of timing differences between accounting
income and taxable income for the period. The deferred tax charge or credit and the corresponding
deferred tax liabilities or assets are recognised using the tax rates that have been enacted or
substantively enacted by the balance sheet date. Deferred tax assets are recognised only to the
extent there is reasonable certainty that the assets can be realised in future; however, where there
is unabsorbed depreciation or carry forward of losses, deferred tax assets are recognised only if
there is a virtual certainty of realisation of such assets. Deferred tax assets are reviewed at each
balance sheet date and are written-down or written up to reflect the amount that is
reasonably/virtually certain (as the case may be) to be realised.
At each reporting date, the Company reassesses the unrecognized deferred tax assets, if any.
Minimum alternate tax (MAT) paid in a year is charged to the Statement of Profit and Loss as
current tax. The Company recognizes MAT credit available as an asset only to the extent that there
is convincing evidence that the Company will pay normal income tax during the specified period,
i.e., the period for which MAT credit is allowed to be carried forward. In the year in which the
company recognizes MAT credit as an asset in accordance with the Guidance Note on Accounting for
Credit Available in respect of Minimum Alternative Tax under the Income-tax Act, 1961, the said
asset is created by way of credit to the Statement of Profit and Loss and shown as “MAT Credit
Entitlement.” The Company reviews the “MAT credit entitlement” asset at each reporting date and
writes down the asset to the extent the company does not have convincing evidence that it will pay
normal tax during the specified period.
o. Leases
As a Lessee:
Leases, where the lessor effectively retains substantially all the risks and benefits of ownership of
the leased item, are classified as operating leases. Operating lease payments are recognized as an
expense in the Statement of profit and loss on a straight-line basis over the lease term.
p. Employee stock option plan
Equity settled stock options granted under “Pureplay Employee Stock Option Scheme 2019” (‘ESOP
2019’) are accounted for under the intrinsic value method as per the accounting treatment
prescribed by the Guidance Note on Employee Share-based Payments issued by the Institute of
Chartered Accountants of India. The intrinsic value of the option being excess of value of the
underlying share as determined by an independent valuer immediately prior to date of grant over
its exercise price.
q. Contingent liability, provisions and contingent asset
The Company creates a provision when there is present obligation as a result of a past event that
probably requires an outflow of resources and a reliable estimate can be made of the amount of
obligation.
A disclosure for a contingent liability is made when there is a possible obligation or a present
obligation that probably will not require an outflow of resources or where a reliable estimate of the
obligation cannot be made.
Contingent assets are neither recorded nor disclosed in the financial statements.
r. Earnings per share
Basic earnings per share are calculated by dividing the net profit or loss for the period attributable
to equity shareholders (after deducting preference dividends and attributable taxes) by the
weighted average number of equity shares outstanding during the period. Partly paid equity shares
are treated as a fraction of an equity share to the extent that they are entitled to participate in
dividends relative to a fully paid equity share during the reporting period.
The weighted average numbers of equity shares are adjusted for events such as bonus issue, bonus
element in the rights issue, share split and reverse share split (consolidation of shares) that have
changed the number of equity shares outstanding, without corresponding change in resources.
For the purpose of calculating diluted earnings per share, the net profit or loss for the year
attributable to equity shareholders and the weighted average number of shares outstanding during
the period are adjusted for the effects of all dilutive potential equity shares.
s. Segment reporting
Segment information reporting is not applicable to the Company as the Company operates in one
segment namely Trading and Marketing of Beauty Care and Grooming Products and has no identified
geographical segment.
3 Share capital
(Amount in Rs.)
As at As at
Particulars
March 31, 2021 March 31, 2020
Authorised
30,000 (previous year 30,000) equity shares of Rs. 10 each 300,000 300,000
2,000 (previous year 2,000) Series A - Compulsory Convertible Preference Shares of Rs. 100 each 200,000 200,000
1,200 (previous year Nil) Pre B - Series Compulsory Convertible Preference Shares of Rs. 100 each 120,000 -
3,300 (previous year Nil) Series B - Compulsory Convertible Preference Shares of Rs. 100 each 330,000 -
120 (previous year Nil) Series A-1- Compulsory Convertible Preference Shares of Rs. 100 each 12,000 -
200 (previous year Nil) Second Tranch Compulsory Convertible Preference Shares of Rs. 100 each 20,000 -
982,000 500,000
Issued, subscribed & paid up

10,198 (previous year 10,177) equity shares of Rs. 10 each fully paid up 101,980 101,770
1,945 (previous year 1,945) Series A - Compulsory Convertible Preference Shares of Rs. 100 each fully paid up 194,500 194,500
1,036 (previous year Nil) Pre B - Series Compulsory Convertible Preference Shares of Rs. 100 each fully paid up 103,600 -
2,767 (previous year Nil) Series B - Compulsory Convertible Preference Shares of Rs. 100 each fully paid up 276,700 -
115 (previous year Nil) Series A-1- Compulsory Convertible Preference Shares of Rs. 100 each (Rs. 1 paid up) 115 -
39 (previous year Nil) Second Tranch Compulsory Convertible Preference Shares of Rs. 100 each (Rs. 1 paid up) 39 -
Total 676,934 296,270
(a) Reconciliation of shares outstanding at the beginning and at the end of the year
Equity shares :
As at March 31, 2021 As at March 31, 2020
Particulars
Number of shares Amount Number of shares Amount
Shares outstanding at the beginning of the year 10,177 101,770 10,000 100,000
Shares issued during the year 21 210 177 1,770
Shares outstanding at the end of the year 10,198 101,980 10,177 101,770
Preference shares :
Series A Compulsorily Convertible Preference Shares
Particulars
Shares outstanding at the beginning of the year 1,945 194,500 - -
Shares issued during the year - - 1,945 194,500
Shares outstanding at the end of the year 1,945 194,500 1,945 194,500
Series B Compulsorily Convertible Preference Shares

Particulars
Shares outstanding at the beginning of the year - - - -
Shares issued during the year 2,767 276,700 - -
Shares outstanding at the end of the year 2,767 276,700 - -
Pre Series B Compulsorily Convertible Preference Shares

Particulars
Shares issued during the year 1,036 103,600 - -
Shares outstanding at the end of the year 1,036 103,600 - -
Series A-1 Compulsorily Convertible Preference Shares

Particulars
Shares issued during the year 115 115 - -
Shares outstanding at the end of the year 115 115 - -
Second Tranch Compulsorily Convertible Preference Shares

Particulars
Shares issued during the year 39 39 - -
Shares outstanding at the end of the year 39 39 - -
(b) Rights, preferences and restrictions attached to shares

The Company has only one class of equity shares having par value of Rs. 10 per share. Each shareholder is entitled to one vote per share held. The Company declares and pays
dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential
amounts. The distribution will be in proportion to the number of equity shares held by the shareholder.
Series A Compulsory Convertible Preference Shares: Compulsory Convertible Preference Shares of Rs.100 each per share were issued in November 2018 to Unilever Ventures
Holdings BV.
Series A-1 Compulsory Convertible Preference Shares: Compulsory Convertible Preference Shares of Rs.100 each per share were issued in August 2020 to Trifecta Venture
Debt Fund - II.
Pre Series B Compulsory Convertible Preference Shares: Compulsory Convertible Preference Shares of Rs.100 each per share were issued in June 2020 to Unilever Ventures
Holdings BV.
Series B Compulsory Convertible Preference Shares: Compulsory Convertible Preference Shares of Rs.100 each per share were issued in November 2020 to Uniliver Venture
Holdings BV, Trifecta Venture Debt Fund - II, Faering Capital India Evolvoing Fund II, Faering Capital India Evolvoing Fund III.
Second Tranche Compulsory Convertible Preference Shares: Compulsory Convertible Preference Shares of Rs.100 each per share were issued in January 2021 to Trifecta
Venture Debt Fund - II.
(c) Details of shares held by each shareholder holding more than five percent of the aggregate shares in the Company
Equity share capital
Name of shareholder
No. of shares held % of holding No. of shares held % of holding
Mr. Sethuram Shankarpasad 5,167 50.67% 5,167 50.77%

Mrs. Prasanya Chennapatnam 5,000 49.03% 5,000 49.13%
TOTAL 10,167 99.70% 10,167 99.90%
Series A - Compulsory Convertible Preference Shares (CCPS) capital

Name of shareholder
Unilever Ventures Holdings BV 1,945 100.00% 1,945 100.00%

TOTAL 1,945 100.00% 1,945 100.00%
Series B - Compulsory Convertible Preference Shares (CCPS) capital

Name of shareholder
Unilever Ventures Holdings BV 181 6.54% - 0.00%

Fearing Capital India Evolvoing Fund II 1,545 55.84% - 0.00%
Fearing Capital India Evolvoing Fund III 878 31.73% - 0.00%
Trifecta Venture Debt Fund II 163 5.89% - 0.00%
TOTAL 2,767 100.00% - 0.00%
Pre B Series - Compulsory Convertible Preference Shares (CCPS) capital

Name of shareholder
Unilever Ventures Holdings BV 1,036 100.00% - 0.00%

TOTAL 1,036 100.00% - -
Series A 1 - Compulsory Convertible Preference Shares (CCPS) capital

Name of shareholder

TOTAL 115 100.00% - -
Second Tranch - Compulsory Convertible Preference Shares (CCPS) capital

Name of shareholder

TOTAL 39 100.00% - -
(d) The Company has not issued any bonus shares or share for consideration other than cash during the period of five years immediately preceding the reporting date.
4 Reserves and surplus

(Amount in Rs.)
As at As at
Particulars
March 31, 2021 March 31, 2020
(a) Securities premium account

Opening balance 155,376,038 155,376,038
Add : Securities premium credited on share issue 930,947,618 -
Less : Share issue expenses (4,354,532) -
Closing balance A 1,081,969,124 155,376,038
(b) Employee stock option outstanding

Opening balance 783,801 -
Add : Employee compensation expense 1,227,842 783,801
Closing balance B 2,011,643 783,801
(c) Surplus in the statement of profit and loss

Opening balance 29,130,328 16,354,318
Add: Net profit / (loss) for the year (31,830,629) 12,776,010
Closing balance C (2,700,301) 29,130,328
Total A+B+C 1,081,280,466 185,290,167
5 Other long term liabilities

(Amount in Rs.)
As at As at
Particulars
March 31, 2021 March 31, 2020
Security deposits taken 100,000 200,000
Total 100,000 200,000
6 Provisions
(Amount in Rs.)
Long term Short term
Particulars As at As at As at As at
March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020
Provision for employee benefits (refer note 35)

Provision for gratuity (unfunded) 2,703,267 1,401,826 64,086 33,727
Provision for leave encashment (unfunded) 998,030 321,202 97,169 43,692
Total 3,701,297 1,723,028 161,255 77,419

7 Long term borrowings

(Amount in Rs.)
As at As at
Particulars
March 31, 2021 March 31, 2020
Secured:
70 (previous year Nil) 14.50% Redeemable non convertible Series [A] debentures of Rs. 10,00,000 each (refer note below) 67,666,667 -
100 (previous year Nil) 14.50% Redeemable non convertible Series [B] debentures of Rs. 10,00,000 each (refer note below) 100,000,000 -
Less: Current maturities of long term borrowings (note 10) (61,333,333) -
Total 106,333,334 -
Note:
1. 14.50% Redeemable non convertible Series [A] debentures are redeemable at par in 30 equal monthly installments beginning the end of sixth month from the date of
allotment, viz., August 17, 2020. These debentures are secured by charge on the fixed and current assets of the Company, whether present or future.
2. 14.50% Redeemable non convertible Series [B] debentures are redeemable at par in 30 equal monthly installments beginning the end of sixth month from the date of
allotment, viz., November 20, 2020. These debentures are secured by charge on the fixed and current assets of the Company, whether present or future.
8 Short term borrowings

(Amount in Rs.)
As at As at
Particulars
March 31, 2021 March 31, 2020
Unsecured loan
Bank overdraft - 1,351,146
Total - 1,351,146
9 Trade payables
(Amount in Rs.)
As at As at
Particulars
March 31, 2021 March 31, 2020
Total outstanding dues of micro enterprises and small enterprises 12,113,925 3,155,067
Total outstanding dues of creditors other than micro enterprises and small enterprises 128,961,705 59,610,813
Total 141,075,630 62,765,880
Disclosure relating to suppliers registered under MSMED Act based on the information available with the Company:
As at As at
Particulars
March 31, 2021 March 31, 2020
(a) Amount remaining unpaid to any supplier at the end of each accounting year:
Principal 12,102,779 3,144,844
Interest 11,146 10,223
Total 12,113,925 3,155,067
(b) The amount of interest paid by the buyer in terms of section 16 of the MSMED Act, along with the amount of the payment - -
made to the supplier beyond the appointed day during each accounting year.
(c) The amount of interest due and payable for the period of delay in making payment (which have been paid but beyond the - -
appointed day during the year) but without adding the interest specified under the MSMED Act.
(d) The amount of interest accrued and remaining unpaid at the end of each accounting year. - -
(e) The amount of further interest remaining due and payable even in the succeeding years, until such date when the interest - -
dues above are actually paid to the small enterprise, for the purpose of disallowance of a deductible expenditure under section
23 of the MSMED Act.
Note:
Dues to micro and small enterprises have been determined to the extent such parties have been identified on the basis of information collected by the management. This has
been relied upon by the auditors.
10 Other current liabilities

(Amount in Rs.)
As at As at
Particulars
March 31, 2021 March 31, 2020
Statutory dues 5,484,425 1,786,421

Employee related payables 674,252 878,875
Current maturities of long term borrowings (refer note 7) 61,333,333 -
Total 67,492,010 2,665,296

13 Deferred tax assets (net)

(Amount in Rs.)
As at Charge / (benefit) As at
Particulars
March 31, 2021 for the year March 31, 2020
Deferred tax assets

Expenses provided but allowable in income tax on payment basis 972,127 (518,990) 453,137
Expenses allowable on amortisation basis in income tax 1,007,352 (875,057) 132,295
Difference between book depreciation & tax depreciation 49,130 342,650 391,780
Gross deferred tax asset 2,028,609 (1,051,397) 977,212

Deferred tax liabilities - - -
Total 2,028,609 (1,051,397) 977,212
Note: In the absence of virtual certainty of sufficient taxable profits arising in future, the deferred tax assets has not been recognised on losses as at March 31, 2021
14 Long-term loans and advances

(Amount in Rs.)
As at As at
Particulars
March 31, 2021 March 31, 2020
Unsecured, considered good

Security deposits 8,272,042 1,514,600
Advance tax and TDS [net of provision for tax of Rs. 55,82,327 (previous year Rs. 53,22,943)] 7,438,666 6,589,957
Total 15,710,708 8,104,557
15 Other non-current assets

(Amount in Rs.)
As at As at
Particulars
March 31, 2021 March 31, 2020
In fixed deposit accounts with original maturity for more than 12 months under lien * 19,500,000 10,746,564
Total 19,500,000 10,746,564
* Includes balance with bank held as lien against the overdraft facility taken
16 Current investments
(Amount in Rs.)
As at As at
Particulars
March 31, 2021 March 31, 2020
Valued at lower of cost or market value - quoted

HDFC Low Duration Fund 250,000,000 -
No. of units 53,21,770 (previous year nil)
ICICI Prudential Mutual Fund 574,033 -
No. of units 26,028 (previous year nil)
IDFC Low Duration Mutual Fund 96,167,005 -
No. of units 31,69,998 (previous year nil)
IDFC Mutual Fund Scheme-DSTG (Bond Fund) 30,298,151 2,500,000
No. of units 6,62,264 (previous year 59,768)
IDFC Mutual Fund (Ultra Short Term) 102,108,572 28,254,876
No. of units 86,18,581 (previous year 25,47,212)
SBI Magnum Low Duration Fund 51,030,881 -
No. of units 18,443 (previous year nil)
Total 530,178,642 30,754,876
Aggregate market value :

Market value of quoted investments 536,733,735 31,646,224
17 Inventories
(Amount in Rs.)
As at As at
Particulars
March 31, 2021 March 31, 2020
(Valued at lower of cost and net realizable value, unless stated other wise)
Stock in trade [Goods in transit of Rs 21,71,960 (Previous year Rs. 23,84,271)] 267,610,090 76,490,221
Total 267,610,090 76,490,221
18 Trade receivables
(Amount in Rs.)
As at As at
Particulars
March 31, 2021 March 31, 2020
Outstanding for a period exceeding six months from the date they are due for payment
Unsecured, considered good 56,754 206,702
Unsecured, considered doubtful - -
56,754 206,702
Others
Unsecured, considered good 133,847,664 68,316,943
Unsecured, considered doubtful - -
133,847,664 68,316,943
Total 133,904,418 68,523,645
19 Cash and bank balance

(Amount in Rs.)
As at As at
Particulars
March 31, 2021 March 31, 2020
Cash and cash equivalents

Cash on hand 5,852 3,258
Balances with bank-
On current account 26,953,143 803,075
Deposits with original maturity of less than three months - 20,000,000
Others 1,177,448 53,284
Other bank balances
Deposits with original maturity for more than 3 months but less than 12 months from reporting date 313,829,488 10,000,000
Total 341,965,931 30,859,617
20 Other current assets

(Amount in Rs.)
As at As at
Particulars
March 31, 2021 March 31, 2020
Balance with government authorities 47,223,604 18,858,842

Prepaid expenses 1,922,255 220,876
Accrued interest on fixed deposits 2,539,544 208,372
Advance to suppliers 28,169,440 2,859,728
Advance to employees 614,758 10,000
Others - 5,409
Total 80,469,601 22,163,227

11 Property, plant and equipment-tangible assets

(Amount in Rs.)
Gross block Accumulated depreciation Net block
Particulars As at Additions/ Deductions/ As at As at For the On Deductions/ As at As at
April 1, 2020 Adjustments Adjustments March 31, 2021 April 1, 2020 year Adjustments March 31, 2021 March 31, 2021
Computers 2,195,510 2,555,021 - 4,750,531 1,061,498 861,885 - 1,923,383 2,827,148

Furniture 3,986,073 844,957 - 4,831,030 885,620 427,654 - 1,313,274 3,517,756
Office equipments 1,050,270 134,326 - 1,184,596 188,044 215,474 - 403,518 781,078
Vehicles 1,069,115 - - 1,069,115 691,732 133,639 - 825,371 243,744
Plant and machinery - 1,706,500 - 1,706,500 - 14,109 - 14,109 1,692,391
Total 8,300,968 5,240,804 - 13,541,772 2,826,894 1,652,761 - 4,479,655 9,062,117
(Amount in Rs.)
Gross block Accumulated depreciation Net block
Computers 1,184,201 1,011,309 - 2,195,510 622,100 439,398 - 1,061,498 1,134,012

Furniture 2,077,707 1,908,366 - 3,986,073 585,357 300,263 - 885,620 3,100,453
Office equipments 213,172 837,098 - 1,050,270 70,773 117,271 - 188,044 862,226
Vehicles 1,053,415 15,700 - 1,069,115 558,415 133,317 - 691,732 377,383
Total 4,528,495 3,772,473 - 8,300,968 1,836,645 990,249 - 2,826,894 5,474,074
12 Property, plant and equipment- intangible assets

(Amount in Rs.)
Gross block Accumulated amortisation Net block
Computer software 243,879 - - 243,879 150,392 22,263 - 172,655 71,224

Trademark 200,000 8,657 - 208,657 18,274 20,797 - 39,071 169,586
Total 443,879 8,657 - 452,536 168,666 43,060 - 211,726 240,810
(Amount in Rs.)
Gross block Accumulated amortisation Net block
Computer software 168,750 75,129 - 243,879 132,411 17,981 - 150,392 93,487

Trademark - 200,000 - 200,000 - 18,274 - 18,274 181,726
Total 168,750 275,129 - 443,879 132,411 36,255 - 168,666 275,213
21 Revenue from operations

(Amount in Rs.)
Year ended Year ended
Particulars
March 31, 2021 March 31, 2020
Sale of products:
Traded goods 905,651,700 523,166,478
Total 905,651,700 523,166,478
22 Other income
(Amount in Rs.)
Particulars
March 31, 2021 March 31, 2020
Interest income 4,620,250 1,542,167

Gain on sale of mutual funds units 6,245,270 6,535,088
Other non-operating income:
Gain on foreign exchange transactions (net) 1,758,585 196,490
Balance no longer required written back - 230,516
Miscellaneous income - 829
Total 12,624,105 8,505,090
23 Purchases of stock-in-trade
(Amount in Rs.)
Particulars
March 31, 2021 March 31, 2020
Purchase of stock-in-trade 463,019,750 225,876,444
Total 463,019,750 225,876,444
24 Changes in inventories of stock-in-trade

(Amount in Rs.)
Particulars
March 31, 2021 March 31, 2020
Inventories at the beginning of the year:

Stock-in-trade [Goods in transit of Rs 23,84,271 (Previous year Rs. NIL)] 76,490,221 42,007,491
Inventories at the end of the year:

Stock-in-trade [Goods in transit of Rs 21,71,960 (Previous year Rs. 23,84,271)] 267,610,090 76,490,221
Increase in inventories of stock-in-trade (191,119,869) (34,482,730)
25 Employee benefits expenses

(Amount in Rs.)
Particulars
March 31, 2021 March 31, 2020
Salaries, wages, bonus and other allowances 74,893,215 44,442,989

Contribution to provident and other funds 2,489,393 1,542,330
Gratuity expenses 1,406,881 1,435,553
Employee stock option scheme (refer note 39) 1,227,842 783,801
Staff welfare expenses 915,291 285,699
Total 80,932,622 48,490,372

26 Finance cost
(Amount in Rs.)
Particulars
March 31, 2021 March 31, 2020
Interest expenses 11,595,804 136,095

Interest on delayed payment of taxes 279,184 437,438
Total 11,874,988 573,533
27 Depreciation and amortization expense

(Amount in Rs.)
Particulars
March 31, 2021 March 31, 2020
On tangible assets (refer note 11) 1,652,761 990,248

On intangible assets (refer note 12) 43,060 36,255
Total 1,695,821 1,026,503
28 Other expenses
(Amount in Rs.)
Particulars
March 31, 2021 March 31, 2020
Power and fuel 138,702 295,410

Rent 9,132,618 4,807,266
Repair & maintenance 1,752,633 449,707
Bank charges 249,321 192,863
Advertisement and publicity 438,152,142 208,045,438
Legal and professional charges 14,378,177 2,926,861
Clearing and forwarding charges 44,213,823 19,601,238
Travelling & conveyance 4,300,102 7,204,050
Office expenses 1,263,797 730,071
Subscription charges 5,935,192 628,427
Communication expenses 258,716 313,449
Auditor's remuneration (refer note below) 710,000 650,000
Rates and taxes 362,616 866,656
Donation 4,798,053 2,067,618
Insurance expenses 1,533,025 597,780
Printing & stationery charges 1,190,805 358,306
E-Commerce storage and commission 37,118,089 13,916,298
Website and platform fees 4,108,156 384,329
Warehouse management charges 8,588,223 3,111,838
Labour charges 4,240,015 2,114,275
Product testing charges 499,413 1,046,380
Expenses incured for increase in authorised share capital 18,100 -
Deferred expenses written off - 2,075,546
Miscellaneous expenses 1,553,417 590,680
Total 584,495,135 272,974,486
Note : The following is the break-up of Auditors remuneration (exclusive of goods and service tax)
(Amount in Rs.)
Particulars
March 31, 2021 March 31, 2020
Payments to the auditor as
Statutory audit fees 660,000 600,000
Tax audit fees 50,000 50,000
Total 710,000 650,000
29 Contingencies and commitments
As per internal assessment made by the management, the Company does not have any contingent liabilities. Further, the Company does not have any commitments as on the
balance sheet date (Previous year-Nil).
30 Value of imports calculated on C.I.F basis

(Amount in Rs.)
Particulars
March 31, 2021 March 31, 2020
Raw material - 201,356

Packing material 96,458,194 43,194,711
Product purchases for trading 20,167,139 30,149,637
Total 116,625,333 73,545,704
31 Expenditure in foreign currency (on accrual basis)

(Amount in Rs.)
Particulars
March 31, 2021 March 31, 2020
Advertisement and publicity 1,601,632 1,086,876

Legal and professional charges - 227,920
Total 1,601,632 1,314,796
32 Earnings in foreign currency (on accrual basis)

(Amount in Rs.)
Particulars
March 31, 2021 March 31, 2020
Export sales 2,368,204 19,782
Total 2,368,204 19,782
33 Earnings per share

Particulars
March 31, 2021 March 31, 2020
Profit/(loss) after tax (Amount in Rs.) (31,830,629) 12,776,010

Weighted average number of equity shares (quantity) - basic 10,184 10,177
Weighted average number of equity shares (quantity) - 13,632 10,244

diluted
Nominal value per share (Amount in Rs.) 10 10
Earnigs per share - basic (Amount in Rs.) (3,125.43) 1,255.38
Earnigs per share - diluted (Amount in Rs.) (2,334.92) 1,247.17
34 Leases
Operating lease: Company as lessee

The Company has entered into commercial leases for certain office premises and warehouses. These leases have an average life of between three and five years. There are no
restrictions placed upon the Company by entering into these leases.
Future minimum rentals payable under non-cancellable operating leases are as follows:
(Am (Amount in Rs.)
Particulars Year ended As at
March 31, 2021 March 31, 2020
Within one year 12,542,400 1,200,000
After one year but not more than five years 26,997,516 -
More than five years - -
35 Employee benefit plans
In accordance with the Accounting Standard-15 'Employee Benefits', the Company has calculated the various benefits provided to employees as under:
A. Defined contribution plans
a) Provident fund
b) Employee State Insurance Fund
During the year the Company has recognized the following amounts in the Statement of profit and loss:-
(Amount in Rs.)
Particulars
March 31, 2021 March 31, 2020
Employers contribution to provident fund 2,467,238 1,523,415
Employers contribution to employee state insurance 22,155 18,915
B. Defined benefit plans and other long-term benefits
a) Contribution to gratuity funds – Employee’s gratuity fund (defined benefit plan)

b) Leave encashment (other long-term benefit)
Contribution to gratuity funds – Employee’s gratuity fund (defined benefit plan) :

In accordance with Accounting Standard 15, an actuarial valuation was carried out in respect of the aforesaid defined benefit plans based on the following assumptions.
i. Actuarial assumptions
March 31, 2021 March 31, 2020

Leave
Particulars Leave encashment Employee gratuity Employee gratuity
encashment
(unfunded) (unfunded) (unfunded)
(unfunded)
Discount rate (per annum) 6.55% 6.55% 6.55% 6.55%
Expected rate of increase in compensation levels 10% 10% 8% 8%
Retirement age - 58.00 - 58.00
Average attained age - 31.32 - 33.22
Withdrawal rate 15% p.a. at younger ages 15% p.a. at younger ages 15% p.a. at 15% p.a. at
reducing to 3% p.a. at reducing to 3% p.a. at younger ages younger ages
older ages. older ages. reducing to 3% p.a. reducing to 3% p.a.
at older ages. at older ages.
The discount rate assumed is 6.55% per annum which is determined by reference to market yield at the Balance sheet date on Government bonds. The estimates of future
salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment
market.
ii. Changes in the present value of the defined benefit obligation in respect of Gratuity (unfunded) are as follows:
Particulars March 31, 2021 March 31, 2020

Present value obligation as at the beginning of the year 1,435,553 -
Current service cost 1,221,218 552,793
Interest on obligation 92,924 -
Net actuarial loss/(gain) 92,739 -
Benefits paid (75,081) -
Prior year charge - 882,760
Present value obligation as at the end of the year 2,767,353 1,435,553
iii. Reconciliation of present value of defined benefit obligation and fair value of assets

Present value obligation as at the end of the year 2,767,353 1,435,553
Fair value of plan assets as at the end of the year NA NA
Net liability recognised in the balance sheet 2,767,353 1,435,553
Amount classified as:
Short term provision (refer note 6) 64,086 33,727
Long term provision (refer note 6) 2,703,267 1,401,826
iv. Expenses recognized in Statement of profit and loss

Current service cost 1,221,218 552,793
Interest on obligation 92,924 -
Net actuarial loss/(gain) 92,739 -
Prior years charge - 882,760
Total expense recognised in Statement of profit and loss. 1,406,881 1,435,553
Leave encashment (other long-term benefit) :

The liability for leave encashment is recognised in the same manner as gratuity amounting to INR 7,63,063 (Previous year Rs. 3,64,894) for the year ended March 31, 2021
36 Related party disclosures
In accordance with the requirement of Accounting Standard (AS)- 18 on “Related Party Disclosures’ the names of the related parties where control exists /able to exercise
significant influence along with the aggregate transactions/year end balances with them as identified and certified by the management are given below:
(a) Names of the related parties and related party relationship
Related parties with whom transactions have been taken place during the year
Relationship Name of Party

Key Management Personnel (KMP) Ms. Shankar Prasad
Ms. Prasanya Chettapatnam
(b) Transactions with the related parties

(Amount in Rs.)
Particulars
March 31, 2021 March 31, 2020
Remuneration to KMP 5,258,658 4,928,880

Purchase of trademarks from KMP 10,000 200,000
Reimbursement of expenses to KMP 2,310,127 740,114
(c) Outstanding balances

(Amount in Rs.)
As at As at
Particulars
March 31, 2021 March 31, 2020
Payable to KMP 404,585 522,682
37 Segment reporting
The Company’s business activities fall within a single segment viz. Sales of traded goods and there is no other reportable business and geographical segment as required under
Accounting Standard-17 "Segment Reporting".
38 Statement of un-hedged foreign currency exposure

Foreign currency exposure which are not hedged :
Pursuant to the announcement on "Disclosure regarding Derivatives Instruments" issued by the Institute of Chartered Accountants of India, the Company has the following
foreign currency exposure that are not hedged by a derivative instrument or otherwise as at March 31, 2021:

Particulars Currency Foreign INR Amount Foreign INR Amount
Currency Currency
Trade payables USD 134,453 9,833,504 74,139 5,567,995
Trade payables EURO - - 20 1,470
39 Employee stock option plan
“Pureplay Employee Stock Option Scheme 2019” (ESOP 2019): The Board vide its resolution dated June 19, 2019 approved ESOP 2019 for granting Employee Stock Options in the
form of Equity Shares linked to the completion of a minimum period of continued employment to the eligible employees of the Company monitored and supervised by the Board
of Directors. The eligible employees for the purpose of ESOP 2019 will be determined from time to time.
The vesting period of ESOP 2019 is four years with three year exercise period for exercising the option to subscribe.
ESOP 2019
Date of Grant August 12, 2019
Number of options granted 85
Vesting conditions 4 years
Exercise period Within a period of 3 years
from the last date of
vesting of options
Exercise price Rs.10
Particulars Year ended Year ended

March 31, 2021 March 31, 2020
Outstanding at the beginning of the year 67 -
Granted during the year - 85
Forfeited/expired during the year - 18
Exercised during the year - -
Outstanding at the end of the year 67 67
Exercisable at the end of the year 67 67
The Company has adopted the intrinsic value method as permitted by the Guidance Note on Accounting for Employee Share Based Payment issued by the Institute of Chartered
Accountants of India in respect of stock options granted. The value of the underlying Shares has been determined by an independent valuer.
40 COVID - 19 impact assessment
In assessing the recoverability of receivables, tangible and intangible assets and carrying value of inventories, the Company has considered internal and external information up
to the date of approval of these financial statements including economic forecasts. The Company has used assumptions based on current indicators of future economic
conditions and based on the same the Company expects to recover the carrying amount of these assets.
Further, the management is continuously assessing the impact of the outbreak of Coronavirus (Covid-19) on the business operations of the Company. The management believes
that no adjustments are required in the financial statements as it does not materially impact the current financial year ended March 31, 2021, however, in view of the highly
uncertain economic environment, a definitive assessment of the impact on the subsequent periods is difficult.
Accordingly, the impact of the global health pandemic may be different from that estimated as at the date of approval of these financial statements.
41 The Code on Social Security 2020
The Code on Social Security 2020 (‘the Code’) relating to employee benefits, during the employment and post-employment, has received Presidential assent on September 28,
2020. The Code has been published in the Gazette of India. Further, the Ministry of Labour and Employment has released draft rules for the Code on November 13, 2020.
However, the effective date from which the changes are applicable is yet to be notified and rules for quantifying the financial impact are also not yet issued.
The Company will assess the impact of the Code and will give appropriate impact in the financial statements in the period in which, the Code becomes effective and the
related rules to determine the financial impact are published.
42 Previous year figures have been regrouped / reclassified, where necessary, to conform to this year’s classification


Date: 28 September, 2021 Date: 28 September, 2021 Date: 28 September, 2021 Date: 28 September, 2021

Pureplay Skin Sciences - Annual Report - FY21

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Pureplay Skin Sciences - Annual Report - FY21

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NOTICE

NOTICE IS HEREBY GIVEN THAT THE EIGHTH ANNUAL GENERAL MEETING OF

By the order of the Board

Place: Thane Sethuram Shankarprasad Punathembekar

g. Process during the meeting and Voting:

For and on behalf of the Board

Date: 28th September, 2021

1.1 PERFORMANCE AND OPERATIONS:

1.2 FUTURE OUTLOOK:

2 EVENTS SUBSEQUENT TO THE DATE OF FINANCIAL STATEMENTS TILL THE

3 CHANGE IN THE NATURE OF BUSINESS, IF ANY:

S. No. Date of Board Meeting Venue of the Meeting Time

S. No. Name of Director Designation No. of Board

7 DIRECTORS AND KEY MANAGERIAL PERSONNEL:

8 STATEMENT ON DECLARATION GIVEN BY THE INDEPENDENT DIRECTORS:

9 COMPOSITION OF AUDIT COMMITTEE:

10 COMPANY’S POLICY ON DIRECTORS’, KMP’S & OTHER EMPLOYEES

12 NAMES OF THE SUBSIDIARIES/ASSOCIATES/JOINT VENTURES:

There are no Subsidiaries/Associates/Joint Ventures of your Company.

13 EXTRACT OF ANNUAL RETURN:

14 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN

14.1 CONSERVATION OF ENERGY:

• Steps taken on Conservation of Energy and impact thereof: Conservation of energy is an

14.2 TECHNOLOGY ABSORPTION:

i) Efforts were made towards technology absorption: Nil

a) Details of technology imported - Nil

iv) Expenditure incurred on Research and Development - Nil

14.3 FOREIGN EXCHANGE EARNINGS & OUTGO:

Amount (In Rs.)

15 DETAILS OF COMPANY’S CORPORATE SOCIAL RESPONSIBILITY:

Industrial relations during the period under review remained cordial.

17 DETAILS RELATING TO DEPOSITS:

The Auditors report does not include any qualification.

19 DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SUB -

20 SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS, COURTS

21 ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERNECE TO THE

22 PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE BY THE

As a diversified enterprise, your Company continues to focus on a system-based approach to business

The web address of the Company is www.plumgoodness.com.

28 COST AUDIT AND COST AUDITORS:

29 RELATED PARTY TRANSACTIONS:

30 DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMAN AT WORKPLACE

S. No. Particulars Remarks

31 CHANGE IN ACCOUNTING POLICY, IF ANY.

There was no change in the accounting policy during the year.

BY ORDER OF THE BOARD

Prasanya Chennapatnam Sethuram P Shankarprasad

Place: Thane Place: Thane

INDEPENDENT AUDITOR’S REPORT

To the Members of Pureplay Skin Sciences (India) Private Limited

Report on the Audit of the Financial Statements

Basis for Opinion

Our opinion is not modified in respect of this matter.

Auditor’s Responsibilities for the Audit of the Financial Statements

Report on Other Legal and Regulatory Requirements

2. As required by Section 143(3) of the Act, we report that:

For MSKA & Associates

ANNEXURE A TO THE INDEPENDENT AUDITOR’S REPORT ON EVEN DATE ON THE FINANCIAL

Auditor’s Responsibilities for the Audit of the Financial Statements

For MSKA & Associates

ANNEXURE B TO INDEPENDENT AUDITORS’ REPORT OF EVEN DATE ON THE FINANCIAL STATEMENTS

For MSKA & Associates

ANNEXURE C TO THE INDEPENDENT AUDITOR’S REPORT OF EVEN DATE ON THE FINANCIAL