Astec LifeSciences : Re-appointment

Date: 2nd May, 2022
To,	To,
BSE Limited	National Stock Exchange of India Limited
P. J. Towers, Dalal Street, Fort,	Exchange Plaza, Bandra - Kurla Complex,
Mumbai - 400 001	Bandra (East), Mumbai-400 051
Ref.: "ASTEC"
Ref.: BSE Scrip Code No. "533138"
Sub.: Outcome of the Board Meeting

Pursuant to Regulations 30, 33, 42 and 52(4) of the Securities and Exchange Board of India (Listing

Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") read with

Schedule III to the said Regulations, this is to inform you that the Board of Directors of the Company, at its Meeting held today, i.e., on Monday, 2nd May, 2022 (which commenced at 3.30 p.m. and concluded at 4.55 p.m.), inter alia, has approved / noted the following: -

• (A) APPROVAL OF THE AUDITED FINANCIAL RESULTS (STANDALONE AND CONSOLIDATED) FOR THE QUARTER AND FINANCIAL YEAR ENDED 31ST MARCH, 2022:

  Upon recommendation of the Audit Committee, the Board of Directors has approved the Audited Financial Results (Standalone & Consolidated) as per Indian Accounting Standards (IND AS) for the Quarter and Financial Year ended 31st March, 2022 along with Cash Flow Statement and the Statement of Assets and Liabilities as on 31st March, 2022 (enclosed herewith).

• (B) NOTING OF THE STATUTORY AUDITORS' REPORT ON THE AUDITED FINANCIAL RESULTS

  (STANDALONE & CONSOLIDATED) FOR THE QUARTER AND FINANCIAL YEAR ENDED 31ST MARCH, 2022:

  Upon recommendation of the Audit Committee, the Board of Directors took note of the Statutory Auditors' Report on the Audited Financial Results (Standalone & Consolidated) for the Quarter and Financial Year ended 31st March, 2022 (enclosed herewith).

  The Report of Statutory Auditors is with unmodified opinion with respect to the Audited Financial Results (Standalone and Consolidated) of the Company for the Quarter and Financial Year ended 31st March, 2022.

• (C) RECOMMENDATION OF FINAL DIVIDEND ON EQUITY SHARES FOR THE FINANCIAL YEAR 2021-22:

  The Board of Directors has recommended Final Dividend of 15% (Fifteen per cent) on the Equity Share Capital of the Company, i.e., Rs.1.50 (Rupee One and Paise Fifty) per Equity Share of Face Value of Rs.10/- (Rupees Ten Only) each for the Financial Year ended 31st March, 2022, subject to approval of the Shareholders at the ensuing 28th (Twenty Eighth) Annual General Meeting of the Company.

• (D) AGM RELATED MATTERS:

  The Board considered and fixed the date of the 28th (Twenty Eighth) Annual General Meeting and related matters as under:

  • (i) The 28th (Twenty Eighth) Annual General Meeting of the Shareholders of the Company will be held on Monday, 25th July, 2022 at 4.00 p.m.

  • (ii) The Book Closure Dates for the purposes of the 28th (Twenty Eighth) Annual General Meeting and payment of Final Dividend are from Thursday, 21st July, 2022 to Sunday, 24th July, 2022, during which the Register of Members and Share Transfer Books will remain closed. The dividend will be paid by Friday, 29th July, 2022.

• (E) RE-APPOINTMENT OF STATUTORY AUDITORS:

  The Board of Directors, based on the recommendation of the Audit Committee, has granted its approval for re-appointment of M/s. B S R & Co. LLP, Chartered Accountants as the "Statutory Auditors" of the Company for a further term of 5 (Five) years commencing from the Financial Year 2022-23 upto the Financial Year 2026-27 (i.e., to hold office from the conclusion of the 28th (Twenty Eighth) Annual General Meeting till the conclusion of the 33rd (Thirty Third) Annual General Meeting), subject to approval of the Shareholders at the ensuing 28th Annual General Meeting.

• (F) NOTING OF RESIGNATION TENDERED BY MR. RAKESH DOGRA (DIN: 07334098), AS A NON-EXECUTIVE DIRECTOR OF THE COMPANY WITH EFFECT FROM 2ND MAY, 2022:

  The Board has noted the resignation of Mr. Rakesh Dogra (DIN: 07334098) from the position of "Non-Executive, Non-Independent Director" of the Company with effect from 2nd May, 2022, due to his personal engagements. The Board has placed on record, sincere appreciation for his contribution and guidance during his tenure as a Non-Executive Director of the Company.

Please take the above information on your records.

Thanking you,

Yours sincerely,

For Astec LifeSciences Limited

Tejashree Pradhan

Company Secretary & Compliance Officer (FCS 7167)

Encl.: As above

Sr.No	Particulars	STANDALONE
Quarter Ended	Year ended
31-Mar-22	31-Dec-21	31-Mar-21	31-Mar-22	31-Mar-21
(Audited)	(Unaudited)	(Audited)	(Audited)	(Audited)
I II III IV V VI VII VIII IX X XI XII XIII XIV xv XVI XVII XVIII	Revenue from Operations Other Income Total Income (I+ID Expenses Cost ofmaterials consumed Changes in inventories offinished goods and work-in-progress Employee benefits expense Finance costs Depreciation and amortisation expense Other expenses. Total expenses (IV) Profit / (loss) before exceptional items and tax (Ill - IV) Exceptional Items Profit / (loss) before tax (V-VI) Tax Expense: (I) Current tax (2) Deferred tax (3) Tax for earlier years (refer note 6) Profit/ (loss) for the period from continuing operations (VII-VIII) Profit I (loss) from discontinuing operations Tax expense of discontinuing operations Profit/ (loss) from discontinuing operations (after tax) (X-XI) Profit / (loss) for the period (IX + XII) Other Comprehensive Income A (i) Items that will not be reclassified to profit or loss (ii) Income tax relating to items that will not be reclassified to profit or loss B (i) Items that will be reclassified to profit or loss (ii) Income tax relating to items that will be reclassified to profit or loss Total Comprehensive Income for the period (XIII+ XIV) (Comprising Profit/ (loss) and Other Comprehensive Income for the period) Paid-up Equity Share Capital (Face Value ofRs.IO/- per share) Other Equity excluding Revaluation Reserve Earuings per equity share (Face Value of Rs. IO/- per share) (for continuing & discontinuing operations) (non-annualised) : (I) Basic (in Rs.) (2) Diluted (in Rs.)	27,198.20 680.04	17,335.32 195.98	17,192.10 154.86	67,656.61 1,046.34	55,487.21 767.05
27,878.24	17,531.30	17,346.96	68,702.95	56,254.26
15,401.90 1,031.79 1,672.29 333.00 1,065.55 2,545.89	11,281.99 (2 ,006.21) 1,285.34 256.36 907.18 2,487.91	7,917.81 2,609.35 1,003.05 104.94 654.08 1,843.19	44,481.50 (5 ,800.42) 5,031.41 909.02 3,441.59 8,535.77	34,459.78 (254.75) 3,834.69 479.02 2,571.49 6,296.86
22,050.42	14,212.57	14,132.42	56,598.87	47,387.09
5,827.82	3,318.73	3,214.54	12,104.08	8,867.17
-	-	-	-	-
5,827.82	3,318.73	3,214.54	12,104.08	8,867.17
1,354.62 168.94 -	798.10 46.89 -	909.56 (89.01) -	2,861.27 261.01 -	2,324.43 (61.24) 134.73
4,304.26	2,473.74	2,393.99	8,981.80	6,469.25
- -	- -	- -	- -	- -
-	-	-	-	-
4,304.26	2,473.74	2,393.99	8,981.80	6,469.25
16.94 (4.26) - -	(5.89) 1.48 - -	(5.29) 1.33 - -	(0.72) 0.18 - -	(23.54) 5.92 - -
4,316.94	2,469.33	2,390.03	8,981.26	6,451.63
1,959.76 21.97 21.96	1,959.11 12.63 12.62	1,958.76 12.23 12.22	1,959.76 37,638.34 45.85 45.83	1,958.76 28,911.50 33.05 33.02

":~
Astec LifeSciences Limited
Corporate Identity Number : L99999MH1994PLC076236
Registered Office : Godrej One, 3rd Floor, Pirojshanagar, Eastern Express Highway, Vikhroli (East), Mumbai- 400079, Maharashtra
ASTEC	Website:www.astecls.com, Tel no.: 022-2519 5768, Fax no.: 022-2261 8289, Email id: [e-mail]
Statement of Audited Standalone Financial Results for the Quarter and Year ended 31st March, 2022
(Rs. in Lakh
Notes:

Responsible Care•

"

The above Financial Results which are published in accordance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015 have been reviewed by the Audit Committee and have been approved by the Board of Directors at its Meeting held on Monday, 2nd May, 2022.

• 2 The Financial Results are in accordance with the Indian Accounting Standards (Ind-AS) as prescribed under section 133 of the Companies Act ("Act"), read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 (including any amendment(s) / modification(s) / re-enactruent(s) thereto). The Financial Results have been subjected to an audit by the Statutory Auditors ofthe Company and they have expressed an unmodified audit opinion.

• 3 The Company has only one reportable segment i.e. Agrocheruicals as per Ind-AS 108 "Operating Segments" specified under Section 133 of the Companies Act,

• 4 The Figures for the Quarter ended 31st March, 2022 and 31st March, 2021 are the balancing figures between audited figures in respect of the Full Financial Year and the published unaudited Year to Date figures upto the end of the third quarter of the respective Financial Year.

• 5 The Board ofDirectors have recommended Final Dividend of 15% ofEquity Share Capital ofthe Company, i.e. Rs. 1.50 per Equity Share ofFace Value ofRs. 10/- each for the Financial Year ended 3!st March, 2022, subject to approval of the Shareholders at the ensuing 28th Annual General Meeting of the Company.

• 6 During the previous year, the Company has sold its equity stake in one of its Subsidiary Company Astec Europe Sprl at a consideration of Euro I.

• 7 In respect of Covid-19 pandemic, the management has considered internal and certain external sources of information including economic forecasts and industry reports upto the date of approval of the fiuancial results in determining the irupact on various elements of its fiuancial results. The management has used the principles of prudence in applying judgements, estiruates and assumptions including sensitivity analysis and based on the current estimates, the management expects to fully recover the carrying amount of inventories, trade receivables and intangible assets. The eventual outcome ofirupact of the global health panderuic may be different from those estimated as on the date of approval of these fiuancial results.

• 8 During the previous year ended 31st March 2021, with a view to conclude protracted and expensive litigation in respect oflncome Tax matters, the Company has filed applications under the Vivad se Vishwas Scheme, 2020 with the Income Tax authorities pertaining to Assessment Years (AY) 2007-08 and AY 2009-10 to AY 2014-15. Consequently, the Company has made a provision of Rs. 134.73 lakhs stated as "Tax for earlier years" under colunms "Quarter and Year to date for period ended 31st December 2020 and Year ended 31st March, 2021".

• 9 The Indian Parliament has approved the Code on Social Security, 2020 which would irupact the contributions by the company towards employment and post-employment benefits. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from stakeholders which are under active consideration by the Ministry. The Company will assess the irupact and its valuation once the subject rules are notified and will give appropriate irupact in its fiuancial statements in the period in which, the Code becomes effective and the related rules to determine the fiuancial irupact are published.

  For Astec LifeSciences Limited

Digitally signed by ANURAG ROY

BURJIS

o;g;tallys;gned by BURJIS

ANURAG ROY Date:2022.os.02 15:50:57 +05'30'

TEH Mu RAS TEHMURASP

p

PARDIWALA Date: 2022.05.02

AnuragRoy

PARDIWALA 16<>u2+os·,o·

Whole - Time Director & Chief Execntive Officer DIN: 07444595

Astec LifeSciences Limited

Corporate Identity Number: L99999MH1994PLC076236

Registered Office : Godrej One, 3rd Floor, Pirojshanagar, Eastern Express Highway, Vikhroli (East), Mumbai- 400079, Maharashtra

ASTEC

Website:www.astecls.com, Tel no.: 022-2519 5768, Fax no.: 022-2261 8289, Email id: [e-mail]

Additional disclosures as per Clause 52(4) of Securities and Exchange Board oflndia (Listing Obligations and Disclosure Requirements)Regulations, 2015

Sr.No	Particulars	STANDALONE
Quarter Ended	Year ended
31-Mar-22	31-Dec-21	31-Mar-21	31-Mar-22	31-Mar-21
(Audited)	(Unaudited)	(Audited)	(Audited)	(Audited)
I II III IV V VI VII VIII IX X XI XII XIII XIV	Current Ratio (refer note 1) Net Worth (in Rs. Lakh) Capital Redemption Reserve (in Rs. Lakh) Debt Equity ratio (refer note 1) Debt Service Coverage Ratio (DSCR) (refer note 1) Interest Service Coverage Ratio (ISCR) (refer note 1) Long term debt to working capital (refer note I) Bad debts to Account receivable ratio (refer note 1) Current liability ratio (refer note I) Total debts to total assets (refer note 1) Debtors turnover (refer note 1) Inventory turnover (refer note 1) Operating EBITDA margin(%) Net profit margin(%)	1.05 39,598.10 0.30 0.71 15.79 17.12 0.62 0.00 0.98 0.31 4.8 3.3 26.6% 15.8%	0.94 35,255.02 0.30 0.81 12.80 14.19 3.00 - 0.98 0.35 4.6 1.9 25.9% 14.3%	1.02 30,870.26 0.30 0.61 23.69 30.06 5.27 - 0.87 0.28 4.9 3.6 23.1% 13.9%	1.05 39,598.10 0.30 0.71 13.10 14.67 0.62 0.00 0.98 0.31 2.9 2.6 24.3% 13.3%	1.02 30,870.26 0.30 0.61 16.13 19.89 5.27 - 0.87 0.28 3.1 3.0 21.5% 11.7%

5.27

21.5% 11.7%

Pursuant to SEBI Operational Circular for Issue and Listing of Non-Convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal

Debt Securities and Co=ercial Paper dated 10th August, 2021, the Company has listed Co=ercial Papers on National Stock Exchange (NSE).

The Company is rated by leading credit agency ICRA. The rating "[ICRA] Al+" and "[ICRA] AA-" has been assigned for its short term facilities

(including co=ercial paper) and long term facilities respectively.

Formulae for computation of ratios:

Current ratio : Current assets I Current liabilities Debt Equity ratio : Total Debt/ Shareholder's Equity

Debt Service Coverage Ratio : (Net Profit after taxes + Non-cash operating expenses like depreciation and other amortizations + Interest + other adjustments like loss on sale of Fixed assets/Investment etc.)/ (Interest & Lease Payments+ Principal Repayments)

Interest service coverage ratio: (Net Profit after taxes + Non-cash operating expenses like depreciation and other amortizations + Interest + other adjustments like loss on sale of Fixed assets/Investment etc.)/ Interest expense

Long term debt to working capital : Non current borrowings + Current maturities of long term debts / Current Assets - (Current liabilities - Current maturities oflong term debts.)

Bad debts to Account receivable ratio : Bad debts including provision for doubtful debts/ Average Trade receivable. Current liability ratio : Current liabilities/ Total liabilities

Total debts to total assets : Total borrowings/ Total assets

Debtors turnover: Net Credit Sales/ Average Trade Receivable (annualised)

Inventory turnover : Cost ofgoods sold /Average Inventory (annualised).

ANURA

GROY

Digitally signed by ANURAG ROY Date: 2022.05.02 15:51 :25 +05'30'

BURJIS

~~~~~ 1 ~;~~~~~~P

TEHMURASP PARDIWALA

PARDIWALA ~:,:,;~2 0~~~ ;

ASTEC

Sr.No	Particulars	CONSOLIDATED
Quarter Ended	Year to date figures for the ueriod ended
31-Mar-22	31-Dec-21	31-Mar-21	31-Mar-22	31-Mar-21
(Audited)	(Unaudited)	(Audited)	(Audited)	(Audited)
I II III IV V VI VII VIII IX X XI XII XIII XIV xv XVI XVII XVIII XIX	Revenue from Operations Other Income Total Income (I+II) Expenses Cost ofmaterials consumed Changes in inventories of finished goods and work-in-progress Employee benefits expense Finance costs Depreciation and amortisation expense Other expenses. Total expenses (IV) Profit / (loss) before exceptional items and tax (III - IV) Exceptional Items Profit / (loss) before tax (V-VI) Tax Expense: (I) Current tax (2) Deferred tax (3) Tax for earlier years (refer note 6) Profit/ (loss) for the period from continuing operations (VII-VIII) Profit/ (loss) from discontinuing operations Tax expense ofdiscontinuing operations Profit/ (loss) from discontinuing operations (after tax) (X-XI) Profit / (loss) for the period (IX + XII) Other Comprehensive Income A (i) Items that will not be reclassified to profit or loss (ii) Income tax relating to items that will not be reclassified to profit or loss B (i) Items that will be reclassified to profit or loss (ii) Income tax relating to items that will be reclassified to profit or loss Total Comprehensive Income for the period (XIII+ XIV) (Comprising Profit/ (loss) and Other Comprehensive Income for the period) Net Profit/(loss) attributable to: -Owoers - Non controlling interests Total Comprehensive Income attributable to: -Owoers - Non controlling interests Paid-up Equity Share Capital (Face Value ofRs.10/-per share) Other Equity excluding Revaluation Reserve Earnings per equity share (Face Value ofRs.10/- per share) (for continuing & discontinuing operations) (non-anoualised) : (I) Basic (in Rs.) (2) Diluted (in Rs.)	27,198.20 680.48	17,335.32 195.98	17,192.10 154.86	67,656.61 1,046.78	55,487.21 792.11
27,878.68	17,531.30	17,346.96	68,703.39	56,279.32
15,401.90 1,031.79 1,672.29 332.19 1,064.06 2,546.15	11,281.99 (2,006.21) 1,285.34 255.55 905.69 2,488.21	7,917.81 2,609.35 1,003.05 103.97 652.59 1,842.55	44,481.50 (5,800.42) 5,031.41 905.77 3,435.63 8,536.92	34,459.78 (254.75) 3,834.69 475.14 2,565.53 6,291.84
22,048.38	14,210.57	14,129.32	56,590.81	47,372.23
5,830.30	3,320.73	3,217.64	12,112.58	8,907.09
-	-	-	-	-
5,830.30	3,320.73	3,217.64	12,112.58	8,907.09
1,355.24 168.91 -	798.60 46.88 -	910.31 (89.20) -	2,863.40 260.92 -	2,326.47 (60.99) 134.73
4,306.15	2,475.25	2,396.53	8,988.26	6,506.88
- -	- -	- -	- -	- -
-	-	-	-	-
4,306.15	2,475.25	2,396.53	8,988.26	6,506.88
16.94 (4.26) (0.79) -	(5.89) 1.48 0.47 -	(5.29) 1.33 0.71 -	(0.72) 0.18 (0.18) -	(23.54) 5.92 (0.78) -
4,318.04	2,471.31	2,393.28	8,987.54	6,488.48
4,305.46 0.69 4,317.35 0.69 1,959.76 21.97 21.96	2,474.68 0.57 2,470.74 0.57 1,959.11 12.63 12.62	2,395.96 0.57 2,392.71 0.57 1,958.76 12.24 12.23	8,985.86 2.40 8,985.14 2.40 1,959.76 37,689.78 45.87 45.85	6,504.89 1.99 6,486.49 1.99 1,958.76 28,959.05 33.23 33.21

(0.18)

Notes:

Astec LifeSciences Limited	"')
Corporate Identity Number : L99999MH1994PLC076236
Registered Office: Godrej One, 3rd Floor, Pirojshanagar, Eastern Express Highway, Vikhroli (East), Mumbai- 400079, Maharashtra
Website:www.astecls.com, Tel no.: 022-2519 5768, Fax no.: 022-2261 8289, Email id: [e-mail]
Statement of Audited Consolidated Financial Results for the Quarter and Year ended 31st March, 2022
/Rs. in Lakh)
(254.75)
(60.99)
(23.54)
(0.78)

Responsible Care"

The above Financial Results which are published in accordance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015 have been reviewed by the Audit Committee and have been approved by the Board of Directors at its Meeting held on Monday, 2nd May, 2022.

• 2 The Financial Results are in accordance with the Indian Accouoting Standards (Ind-AS) as prescribed uoder section 133 of the Companies Act ("Act"), read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 (including any arnendment(s) / modification(s) / re-enactment(s) thereto). The Financial Results have been subjected to an audit by the Statutory Auditors ofthe Company and they have expressed an unmodified audit opinion.

• 3 The Group has ouly one reportable segment i.e. Agrochemicals as per Ind-AS 108 "Operating Segments" specified uoder Section 133 of the Companies Act, 2013.

• 4 The Figures for the Quarter ended 31st March, 2022 and 31st March, 2021 are the balancing figures between audited figures in respect of the Full Financial Year and the published uoaudited Year to Date figures upto the end of the third quarter of the respective Financial Year.

• 5 The Board of Directors have recommended Final Dividend of 15% of Equity Share Capital of the Company, i.e. Rs. 1.50 per Equity Share of Face Value of Rs. 10/- each for the Financial Year ended 31st March, 2022, subject to approval ofthe Shareholders at the ensuing 28th Annual General Meeting ofthe Company.

• 6 During the previous year, the Company has sold its equity stake in one ofits Subsidiary Company Astec Europe Sprl at a consideration ofEuro I.

• 7 In respect of Covid-19 pandemic, the management has considered internal and certain external sources of information including economic forecasts and industry reports upto the date of approval of the financial results in determining the impact on various elements of its financial results. The management has used the principles of prudence in applying judgements, estimates and assumptions including sensitivity analysis and based on the current estimates, the management expects to fully recover the carrying amount ofinventories, trade receivables and intangible assets. The eventual outcome ofimpact ofthe global health pandemic may be different from those estimated as on the date of approval of these financial results.

• 8 During the previous year ended 31st March 2021, with a view to conclude protracted and expensive litigation in respect of Income Tax matters, the Company has filed applications under the Vivad se Vishwas Scheme, 2020 with the Income Tax authorities pertaining to Assessment Years (AY) 2007-08 and AY 2009-10 to AY 2014-15. Consequently, the Company has made a provision of Rs. 134.73 lakhs stated as "Tax for earlier years" under colunms "Quarter and Year to date for period ended 31st December 2020 and Year ended 31st March, 2021".

• 9 The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards employment and post-employment benefits. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from stakeholders which are uoder active consideration by the Ministry. The Company will assess the impact and its valuation once the subject rules are notified and will give appropriate impact in its financial statements in the period in which, the Code becomes effective and the related rules to detemrine the financial impact are published.

  For Astec LifeSciences Limited

ANURAG	Digitally signed by
ANURAG ROY
ROY	Date: 2022.05.02
15:51 :43 +05'30'
Anura2Roy

BURJIS TEHMURASP PARDIWALA PARDIWALA ~:~~,~~2:0~~3~~

~~~;~~1 ~:~~~~~~P

Whole - Time Director & Chief Executive Officer DIN : 07444595