SECY/S.E./L.A.

/2020-21/03
TANFAC February 10, 2021

BSE Limited
Department of Corporate Services
Phiroze Jeejeebhoy Towers,
25111 Floor, Dalal Street,
MUMBAl-400 001 .

SCRIP CODE: 506854

Dear Sir,

Sub: Outcome of Board Meeting held on 10.02.2021- reg.

Ref: Regulation 30 of SEBI (LODR) Regulations, 2015.
-oOo-
We wish to inform that the Board of Directors of the Company at their meeting held today at
Chennai, inter alia considered and approved the Standalone Unaudited Financial Results for the
quarter and period ended 31st December 2020.

We are sending herewith the following as required under Regulation 33 of SEBI (LODR), 2015,
read with listing requirements:

(a) Statement of Standalone Unaudited Financial Results for the quarter and nine months ended
31s1 December 2020.

(b) Report on Limited Review for the quarter and nine months ended 31st December 2020.

As required under Regulation 47 of SEBI (LODR) Regulations, 2013, the financial results will be
published in the newspapers within the stipulated time as per prescribed format.

The meeting of the Board commenced at 12.30 P.M. and concluded at 03.15 PM.
Thanking you,

Yours faithfully,

for TANFAC INDUSTRIES LIMITED

(N.R~VI~~
CHIEF FINANCIAL OFFICER

Encl. : As above

TANFAC INDUSTRIES LIMITED

,.•.,
(Joint Sector Company with TIDCO)
t.::A~, Regd. Office & Factory: 14, SIPCOT Industrial Complex, Cuddalore - 607 005. Tamil Nadu, INDIA
Tel : +91 - 4142 - 239001 - 5, Fax: +91 - 4142 - 239008,
Ii • • • ,

'
Chennai Off: Oxford Centre, 1st Floor, 66, Sir C.P. Ramaswamy Road,
Alwarpet, Chennai - 600 018. Tamil Nadu, INDIA.
~~~ TM UKAS Tel: +91-44-2499 0451/0561/0464, Fax: +91 - 44 - 2499 3583
MANAGEMENT
SYSTCMS Web www.tanfac.com
lntertek 01 4 GST: 33AAACT2591A1ZU CIN: L24117TN1972PLC006271
l<himji Kunverji & Co LLP
l t• 1 rte r ~ d A'" _ o u n t il n t s

Limit ed Review Report on Financial Results of TANFAC INDUSTRIES LI M ITED

To
Board of Directors,
TANFAC INDUSTRIES LIMITED

INTRODUCTION

1 We have reviewed the accompanying statement of unaudited financial results ('Statement') of

TANFAC INDUSTRIES LIMITED ('the Company') for the quarter ended December 31, 2020 and the
year-to-date results for the period from April 1,2020 to December 31, 2020, attached herewith. being
submitted by the Company pursuant to the requirement of Regulation 33 Jf thE. SEBI (L1st1ng
Obligations and Disclosure Requirements) Regulations, 2015, as amended (''Listing Regulations") .

This Statement, which is the responsibility of the Company s Management and approved by the Board
of Directors, has been prepared in accordance with the recognition and measurement pnnc1plC's la id
down in Indian Accounting Standard 34 'Interim Financial Reporting ('Ind AS 34'), prescribed under
Section 133 of the Companies Act, 2013, and other accounting principles generally accepted 111 India
and in compliance with Regulation 33 of the Listing Regulations. Our respons1b1lity is to issue a report
on the Statement based on our review.

SCOPE OF REVIEW

2 We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410,
"Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued
by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform
the review to obtain moderate assurance as to whether the financial results are free of m<llerial
misstatement. A review 1s limited pnmanly to inquines of the Company personnel and analytical
procedures applied to financial data and thus provide less assurance than iln audit We have not
performed an audit and accordingly, we do not express an audit opinion

CONCLUSION

3. Based on our review conducted as above, nothing has come to our attention that causes us to belipve
that the accompanying Statement prepared in accordance with applicable accounting standards, 1 e
Ind AS prescribed under Section 133 of the Companies Act, 2013, read with releva nt rules issued
thereunder and other recognized accounting practices and policies has not disclosed the 1nformat1on
required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 including the manner in which 1t 1s to be disclosed. or that 1t co11 ta1ns
any material misstatement

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 t<llimj i Kunverji & Co LLP
't-"ed Accountants

Emphasis of Matter

4. Attention is drawn to Note no. 4 of the Statement which describes the impa cts of COVID ·19 Pandemic
on the financial results as also on business operations of the Company, the assessment thereof by the
management of the Company based on its internal, external and macro factors involvi ng certain
estimation uncertainties. Our opinion is not modified in respect of this matter

Other Matter

5 As a matter of abundant precaution considering the widespread impact of COVID-19. the processes
of quarterly limited review were carried out from remote locations 1.e from other than the
office/plant of the Company, based on the data/details or f1nanc1al information shared t>v the
management through digital medium Our report is not modified in respect of thi~ matter

For Khimji Kunverji & Co LLP

Chartered Accountants
FRN 105146W/W-100621

fi()M~O ~~1 ~~~

Praveen Kumar Daga
Partner
ICAI Membership No. 143762
UDIN 21143762AAAAAR2431

Place· Bengaluru
Date February 10 2021

..

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r • l • l1 4 ~ 7•P E 1nfo@H,kc .n w www ~kc in
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 TANFAC INDUSTRIES LIMITED
CIN . l24 117TN19nPLC00627 1
REGO OFFICE: 14 SlPCOT INDUSTRIAL COMPLEX. CUDDALORE - 607005, TAMIL NADU
Webs.l ie: - .tonfoc.com . EmoA : invreln.bnf•c@•dityoblf1a.com · Telephone : +91 4142 239001.S . FOJt : + 91 4142 239008
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE PERIOD ENDED 3 1ST DECEMBER. 2020
~ in Lacs
SN Partlcu1uw OU11rter Ended Nine Months Ended YeuEnded

31-Dec-20 3C>-SeJ>-20 31·Dec· 19 31-Dec-20 31-Dec-1 9 31-Mar-20

Unaudited Unaudited Unaudited Unaud ited Unaudited Audited

Revenue:

I a) Revenue from OperetiOfl• 4,71285 3,429.18 3,808.59 10.911139 13.256.23 16,480.29

II b) Other Income 18.55 775 75.20 3288 106.75 118.41

Ill Total Revenue (I + I I 4,731.20 3,436.93 3,813.79 10,949.05 13,382.98 1 6,596.70

w Expenses:

a) Cost of Raw Mate<ials conswned 1.97387 1,87888 2,062.87 s .1n85 7,063.18 8,438.37

b) Changes in wwentories of Finished Goodt. Wor1< on progress and

(10448) (83.39) ( 133.88) (277.07) (190.52) 18773
$tock in trade

c) Employee Benefits Expenses 28fl 95 323.30 298.43 90865 887.02 1,207 OS

d) Finance Cost 28.70 5.58 20.52 3803 67.04 84.51

e) Depreciation and Amc"1isalion Expenses (Reier Note 5 below) 382.28 190.04 125 57 660.88 382.24 463.75

I) Power and Fuel 252.60 241 .94 395.44 69796 1,342.18 1,559 71

g) Other expenses 48854 403 44 603.58 1.230 05 1,940.76 2,5 1328

Total Expenses (IV) 3,310.21 2,759.57 3,372.55 8,451.33 11,461.90 14,434.40

v Profit Before Exceplionol and Extnon:linary 119rns and Tax (Ill .JV) 1,420.94 sn.38 511.24 2,497.72 1,901 .08 2,152.30

V1 Exceptional Item .

VII Pror~ Before Tu (V . VI) 1,420.94 sn.38 511.24 2,497.72 1,901.08 2,162.30

VIII Tax EJ<pense

i)Cum1n1Tax 24822 118.35 92.06 438.38 355.60 377.28

o) Deferred Tax ( 121.88) (35.28) (35.03) ( 145.21) (62.49) (94.69)
iii) MAT Creel~ Entitlement (Rec:ognaed) I Utilized 274 03 119.87 69.59 453.02 275.06 333.42

ill) T ax Provision of prior year revelHd . . ( 151.14)

IX Profit I (Loss) for the period (VII · VIII) 1,020.37 474.42 384.82 1,752.95 1,332.91 1,697.43

x Other Comprehensive Income (DCI)

A (i) it.ms that will not be reclaum.d to Profrt or Lou 8.69 l .'9 19.69 33.H
(ii) Income bx ntlating to Items that win not be reclusified to prof~
(0.00) (2.55} (US)
orfoss

8 1111119ms that will be ntclauilled aubaeauentlv t o ororrt or loss .

(ii) Income tox relating to llema tt>at will be reclas1if1ed to profit or
loss
Totlll of Other Compre11'1n1lve Income a .69 (0.00) 8.69 17.14 31.01

XI Tota.I Comprehensive Income for the period (IX+X) 1,020.37 483.11 384.62 1,781 .84 1,350.05 1,728.44

XII Paid-up Equity Sha,. Caplbl (Face v alue Rs. IOI· ) 997.50 997.50 997.50 997.50 997.50 997.50

XIII Other Equity S.522. 21

xw Eam!!Sls I?!!! share of !•5! vie 2f B! 10I· each (Not Annualised)

Basic (Rs) 1023 4.76 3. 66 17 57 13.36 1702

Diluted(Rs) 1023 4.76 3.66 17.57 13.38 17.02

No1es:

The above results were reviewed by tile A udrt Committee and approved by tile Soard of Directors al~. meeting held °"10th FeblUery 2021

2 The company operates in • single segment Le, Chemicals in India and all other activitiH evolve around lhe same. H ence, there is no repon.able primary/ secondary segment in
accordance wi1ll tile require,,,.nts of Ind AS 108. 'Operating Segments'
3 The Government of India, on 20th September. 2019 vide the Taxation Laws (Amendrnenl) Ordinance 2019, insetled a new sectJOn 1158AA in the Income T ax Act. 1961 wtiich
provides an option to the Company for peying income tax at redUced rates subl8CI to compllance of the conditions stipulated !herein The ~Y has chosen not to opt for the
reduce rate of t.x in S.ptemb«, 2019 and conbnUe with lhe exisbng rate of TAJ<
4 As pet the ditec::twes ol lhe <Anni and lhe Slate GoverM>ents. lhe Company had suspended lhe operat>oos at ils faaory at Cudclalore on 2!lth Man:h 2020. Aflt>r ob1ainong
neceUMY ~ the Company had restatted ils operations in a phased ,,._,., from 81h April 2020 With conttoled enuy and hit faolitJes. The Company c:onlinue to lake
vilrious incautionary meHins 10 protect from COVI0.19. As part of Business ContJnul1y Plan (SCP). the Company has made a deiailed essessmenl.S of tts operabOOs, loquldity
poMions. recoverability & carryong values of the assets comprising of ~ & Mac:honery, T. - R8CefVablu. Inventory and - Curren! and Non-C..rant Assets and believes
that Ulere is no matenal 1mpect or adjustments required in the linanaal result for !he period ending 31st Decambe< 2020 Management believes !hat d has oaken into account al
the poSSlble 1mpaci of evonls knOwn til the date of app<oval of the financial 1taleme<>IS MaMgement believes !hat existing customer end supplier relationships and its mal1<e1
posit.ion arising from COVI0.19 pandemic is not expected to be signfficanl A• tM srtuabOn 1s eontinuous)y evolving.. the company 'Mii continue to tnONtor future events for any
material change in the economte conditions

5 The Company had reassessed the useful t1fe of some of its main ass.els dunng the quarter, Based on the a.ssessment. the Compal'\y had made adchtonal depreaation provision
of Rs.271.54 iakhs during !he quartor and period ended 31 sl December 2020.

10th February 2021 l oll