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BRITANNIA DBRITANNIA INDUSTRIES LIMITED (opoae entity ber: ASAL2WBISIALCO2968) ‘Wetec il tortion cts Consolidated Financial Results arr oer | statement of conse rand Rests Tor the qui and sk months ended 30 Sperber BOE [sno rarrcutas QUARTER ENDED SHMORTIS OTD —[ WEAR ENDED [Unsustes | (Unsucees) | Unadtes| Wades | rsus ee) | (Aude) |corees investors of fished aot, socks nd works orgres| orn nas 8 asa soa cr) resents a] sisi] Sense] amma] ae Sar fat Youl tacts a a a) 0) iota ote ter sd SET Wa0| eos] eee] nae | tase | 2a Viloepirl ers ore ernie a Cae an] ae ae] | | lei ee peo TOT cgose| 7a] seneg] na | reas | Ta Tiler eonereerve cre Dal et oa io ompretesv noms DOE) B53] 5035 ais | us| uae] Poe ea: Tomer ener ens Tas lows conn sa] ru] oan) ne 2 eas Toa comprehen nome Tos saan Tao eu he onl eee oC sean [ 3098 te | ator at eo ae aT) goa | —ssegae | Soot | —a507¢| tomar] sans aap det et eer tT yea 76| —vano30| —pannst]| —ani70[ aes "a igre eo oT ST Inmet wou] sean] sas] seas] en] can owt ow| tem| sas] seas] | tan fata ete lhe ae ner] a oan] 109 ences [Uwatea) [uses ()non-ert assets (storey, nar ecupment sues \n)capttworeinsroares sae lc vesimen rose 1395, far seaew 968 fei otrer mings 1560 kn mestmenin asecites "209 francs st (investments rower) mess Atoms recevabie ‘so00| 10000 Ii) ote roel osets mel “ana \n)deereaoe ase ra) sel sis fa tenasss nt nol} aa licmer en cron sat zan| sain letatnoncaret ets 3pe0as | as5a8 afcurent assets fal reronas sssoos| —asera0 [error ses hiner sesoo] aaa Ui Tase rece wos] ana i) cas arash equates sees] 7a8) {Bankes the than (above ain) at tWtansrecrable sssco] eaea0 te) other franca ats sna] naa \ciomercaronsaet suss| eae [out erent asses Sssonz | —aproat rota sets Tsu] 55 Afgan uaa Oa aml \arctmer eats 2owses| 2540s Iauity ated oe holes fhe arnt ‘zeae | 28040 roa egy Taras | 758550 cafumsnie (ilponcuet tabites [a Fences (9 Brrenigs soar] r0698 (ese abies wx} 76 [whore nancies sis] set | osereasae aise) on jot norcurent bite ais [raze (ocarent ibis fa an ain 1 Brrengs nano] areas tone abies 275 1.20 tin Tete poate [a otal oatnang eu of enter and ema erp aan| sare {bit ovsanding der cers cher than mio eters nd sna eerpret nasois| —az246 wottertnaes soles ‘arae| ess le other ronelaaes onos] ae lor movsore conse] agen 2) Tactabies na sain| “5s [oa caret abies ‘ass | ass. 73 rotate andes rau] 751558 [Consolidated Statement of Cash Flows (Rincrores) Particulars ‘She rmonthe ended 30.09.2022 30.09.2021 (Unaudited) [Unaudited) [cash flows from operating activities Profit before tax and share of profits / (loss) of associates and after exceptional tems 322245 1,053.58 JAdjustments for : Depreciation and amortisation expense 102.82 99.23 Share based (ESOS) expenses 48 Net gain on financial asset measured at fair value through Statement of Profit and Loss (20352 (1737) Profit on sale of property plant and equipment (040) (070) Interest income from financial assets carried at amortised cost (23.93 (sx.0n) Bad debts 559 : Finance costs 96.12 73.18 changes in Inventories e797] (229.68) Trade receivables (29.53) (96.24) Other financial assets and other assets (65.39) (74.08) Trade payables, other financial lables, other liablities and provisions 303.85 15.36 [cash generated from operating activities 951.08 737.03 income-tax paid, net of refund (219.65) (244.66) Net cash generated from operating activities 731.43 492.37 cash flow from investing activities JAcquisition of property, plant and equipment and other intangible assets (384.92] (282.13] consideration paid under business combination 15} Proceeds from sale of property, plant and equipment 5.38 116 sale of investments, net 375.23 41,260.77 inter-corporate deposits placed (260.00) (260.00) Inter-corporate deposits redeemed 373.00 545.00 Ichange in other bank balances (18.03) (a8] interest received 84.85 39.48 INet cash generated from investing activities 174.08 1,345.30 cash flow from financing activites Principal payment of lease abilities (0.97) (087) Interest paic on lease liailties (0.29) (os8} Interest paic (129.68) (1.52) Proceeds from non-current borrowings 44010.00 - Issue of aonus debentures 698.52 Net proceeds from other working capital borrowing 281.26 296.05 lRepayment of bonus debentures (7205) Repayment of Commercial paper and Term Loans (ea7] (288.77) Contribution from aon-controling interest 9.01 : lbividends paid (including bonus debentures) (2,362.26) (2,484.70) Net cash used in financing activities (922.76] (1,861.68) Inet change in cash and cash equivalents (07.25) (24.01) effect of exchange rate changes on cash and cash equivalents 478 3.48 cash and cash equivalents at beginning of the period (net of bank overdraft) 309.32 141.45 cash and cash equivalents at end of the period 96.85 118.92 cash and cash equivalents 96.85 118.92 [Cash and cash equivalents at end of the period 96.85) 118.92 * Bank overdraft is shown under cash and cash equivalent as per requirement of IND AS 7. Hence, proceeds from borrowings under financing activity ldoes not include the movement in bank overdraft continued, 1. Th usuased sandloe frances, forthe quar ands mare onde 30 September 222 can be Wee on he webite af the Campy, Nan So rage oni med (Stan Se eS] ean wu eid. aed ne eel con“epetnly remson saute ard ‘anal ea the Cagayan of Region 738) oe Sects rd change Sor of sa fing Oblgatans ara score Raguteers) fein cota urssete) | Uursustos) | unsstes) | Travates | Wnsustes) [Rusts [etree Eom erie fia] Jena] sass] yas] easter] ane 2. The wma ones franc eu forth quater ard mtr 0 Segtarte 202 (eres) af Brandis mite the Conse ar essere: the Group] nde soca rave been rears acre wth nian ecouting Sta ed arene une Seca Consus ‘es 203 Tne et) an wth he relates hereunder ncn tr Region 3s Rapin 5 ree wth Repl fhe SE (using OBI rd Date eguremerts)Regustons 235, segraneThaeoe, he eae at per Regn 3a) read with Case (0) of Scheale IV ofthe SM using Obogatons and elsteReguteren) Repuston, 2035s otsppeabieto te Grats 4. The resus Rave benrewsd ane reconmented bythe Aust Comme the Bard and approved bythe Bars Decors on 4 Neveber 2022 Septerer 202 ar he hve staan unmet fae Repro the so, The Revi Reger of he ity sure baig fe wih he aS ‘eran in ies) nde ASE nea asada on he Company sweat {5 repo tm ort ave pare arid patina volar eament aa rochment cots niredin onthe unas of he Cngsy 2. Formule fo computaton oto a 3 flows {a} 0ebtecaty rato = Debt Net worn [Detter Ped debt aot Non - caret borrowings Non cient lene ali Caren barowings + Caet ae bis INerworth: Fam ecu shire capt = hor ena] (Gea sorvce coverage ato = Prot bear exceptional ams, tan ance css / (finance zs «Procol reaaynnt ade for Norco ncaa ert matures ofan tem eat ond Nor caret elas (einer sre coverage rt = roe befre exzeptrl tens tana nance ats Fnance ots (e)curentratio= Curent see / Cure abies (c.g term cet to working aptamer boring (ncug curantmatuy of ron bowing + Non cent ee abies cg ran ‘matron arrorlee able (aren se sr ea abesecuong cet ats othon euertaerning ana non cient se abe) (Durer tay ata = Toa caren nts oa bies (avr den toa sats = De tl aes. (0) eta enor Anns sl gods / Average os Trade rece (befor Powson) (irentor tumor = uae sale of os Average nerones of ane soc {hopersting marin = rote etre excepto er tote ncome* Pathe cn Tota even om oparatans (inert mavens Rot art ort poo aalncone note muy wu pd log rees en 2% A 222m Conbeatot te Boarsot err Nusli Neville titanate Wadia buses Walker Chandiok &Co LLP Walker Chandiok & Co LLP ‘th Floor, Ne. 88/2, Block "A, Bagmane Trib, Gagmane “Tech Park. C V Raman Nagar, Bengaluru 560083 7 +91 80.4249 0700 F +91 20 4126 1228, Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 and Regulation 52 read with Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of Britannia Industries Limited 1. We have reviewed the accompanying statement of unaudited consolidated financial results (the Statement’) of Britannia Industries Limited (‘the Holding Company’) and its subsidiaries (the Holding Company and its, subsidiaries together referred to as ‘the Group’), its associates (refer Annexure 1 for the list of subsidiaries and associates included in the Statement) for the quarter ended 30 September 2022 and the consolidated year to date results for the period 01 April 2022 to 30 September 2022, being submitted by the Holding Company pursuant to the requirements of Regulation 33 and Regulation 52 read with Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (‘Listing Regulations’) 2. This Statement, which is the responsibilty of the Holding Company's management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting (‘Ind AS 34'), prescribed under Section 133 of the Companies Act, 2013 (‘the Act’), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 and Regulation 52 read with Regulation 63 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under Section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters. that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the SEB! Circular CIRICFD/CMD1/44/2019 dated 29 March 2019 issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), to the extent applicable. Can, Ch ari a oh Koi Mb Ne A, on Poe ‘inter AAS tag tn Walker Chandiok &Co LLP 4, Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including the manner in which itis to be disclosed, or that it contains any material misstatement. For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No: 001076N/N500013 Aasheesh (eee Far Gineqhy bate 20221108 Arjun Singh 773237 0530 Aasheesh Arjun Singh Partner Membership No. 210122 UDIN: 222101228CCXSX9127 Bengaluru 04 November 2022 Walker Chandiok &Co LLP Annexure 1 to the Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results pursuant to the Regulation 33 and Regul: Obligations and Disclosure Requirements) Regul: n 52 read with Regulation 63 of the SEBI (Listing ions, 2018 (as amended) List of subsidiaries and associates included in the Statement Sr. | Name of the Company Country __ of | Subsidiary/Associate No. Incorporation |__| Boribunder Finance & Investments Private Limited | India Subsidiary 2 [Flora Investments Company Private Limited india Subsidiary '3_| Git Edge Finance & Investments Private Limited | India Subsidiary ‘4_| Ganges Vally Foods Private Limited India Subsidiary 5__| International Bakery Products Limited India’ Subsidiary 6 [J.B Mangharam Foods Private Limited india ‘Subsidiary 7_| Manna Foods Private Limited india Subsidiary | Sunrise Biscuit Company Private Limited India’ Subsidiary ‘3 | Britannia Dairy Private Limited India ‘Subsidiary 10_| Britchip Foods Limited india Subsidiary 41 [Britannia Employees Educational WATE | yin Subsidiary — Limited by Association Private Limited Guarantee 72 | Britannia Employees Medical Welfare Association |, 5,. Subsidiary — Limited by Private Limited Guarantee 7B _| Britannia Employees General Welfare Association | 5, 5,. Subsidiary — Limited by Private Limited Guarantee 74_| Britannia and Associates (Maurilus) Private Limited | Mauritius Subsidiary 18 | Britannia and Associates (Dubs) Private Company Toya, az _| SubsirY 76 _[ Al Sallan Food Industries Company SAOG. ‘Oman Subsidiary 17_| Strategic Food International Company LLC Dubai, UAE | Subsidiary 18_| Strategic Brands Holding Company Limited Dubai, UAE | Subsidiary 19 [Britannia Dairy Holdings Private Limited Mauritius Subsidiary 20 | Britannia Nepal Private Limited Nepal Subsidiary 21_| Britannia Bangladesh Private Limited Bangladesh | Subsidiary 22[ Britannia Egypt LLC Egypt Subsidiary 23__| Strategic Foods Uganda Limited Uganda ‘Subsidiary 24_| Kenafric Biscuits Limited Kenya Subsidiary 25 | Catalyst Britania Brands Limited Mauritius Subsidiary 26_| Nalanda Biscuits Company Limited india ‘Associate 27_[ Sunandaram Foods Private Limited India’ ‘Associate

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