PILANI INVESTMENT AND INDUSTRIESCORPORATION LIMITED

CIN: L24131WB1948PLC095302REGD. OFFICE: BIRLABUILDING, 9/1, R.N.MUKHERJEE ROAD, KOLKATA-700 001

Email: pilaniinvestment1@gmail.com, TELEPHONE: 0334082 3700/22200600, Website : WN"W. pilaniinvestment.com

30th July, 2020

The Manager,Listing DepartmentNational Stock Exchange of India Ltd."Exchange Plaza", Plot No. C/ 1, G BlockBandra Kurla Complex, Bandra (East)Mumbai - 400051

Manager (Listing)BSE Ltd.Phiroze Jeejeebhoy TowersDalal Street,Mumbai-400 001

Sub: Outcome of Board Meeting

Ref: Scrip Code: NSE:PILANIINVS:: BSE: 539883:: ISIN:INE417COI014

Dear Sir,

The Board of Directors have at their meeting held today i. e. 30th July, 2020, transacted,inter alia, the following items of business: -

1. Considered, approved and taken on record the Audited Financial Statements/Results(Standalone and Consolidated) of the Company for the quarter and financial year endedai= March, 2020.

In this connection, we are pleased to enclose the followings:

a) Audited Standalone and Consolidated Financial Results of the Company for thequarter and financial year ended 31st March 2020;

b) Audit Report of the Statutory Auditors of the Company (Standalone andConsolidated) on the aforesaid results; and

c) Declaration on Unmodified Opinion on Auditors' Report issued by the StatutoryAuditors of the Company for the financial year 2019-2020, under Regulation33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulation, y2015;

2. Recommended Dividend of Rs .."b.?. ..[: per equity share of face value Rs. 10/- each v

for the financial year ended 31st March, 2020 subject to the approval of theshareholders of the Company at the ensuing Annual General Meeting of the Company

The meeting commenced at 4.00 P.M. and concluded at.~.:~.f.P. M. yYou are kindly requested to take the same on record.

Thanking you,

Yours faithfully,For Pilani Investment and Industries Corporation Limited

-G)0\\'11- Q~( KCh1Y{~a:-p~ny ~ecretary -,

End: As above •

ARTHI & SONSTERED ACCOCNTANTS

MADHUVAN,l FL OR, 1.-3, GA..1I®HI NAGAR, GWALIOR 474002 (M. P.)PHONES: (0751) 2420870, 242 56 FASCIMILE: (0751) 2425091

E-MAIL: amitvldyarthi@.hotmail.com

VICH

Independent Auditor's Report

ToThe Board of Directors ofPllani Investment and Industries Corporation Li it d

Report on the audit of the Standalone Annual Financial Results

Opinion

We have audited tne accompanying standatone annual financra results of Pilaru Investment andIndustr es Corporation Limited (hereinafter referred to as the "Company") for the year ended 31 Marcp2020. attached herewith, being submitted by the Company pursuant to the requirernent of Regulation 33of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. 2015. as amended ('listingRequlations')

In our opinion and to the best of our ntorrnauon and according to the exptanauons given to us. theaforesaid standalone annual financial results:

a are presented in accordance with the requirements of the Regulation 33 of the listingRegUlations n trus regard; and

b give a true and fair view in conformity Withthe recognition and measurement principles laid downIn the appl cable Ind an Accountmq Standards, and other accountirq principles gererallyaccepted in India, of the net profit and other comprehensive Income and other financialinformation for the year ended 31 March 2020.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section143(10) of the Companies Act 2013. as amended ("the Act") Our responsibihties under those SAs a efurther cescnbed in the Auditor's Responsibnrtles for the Audit of tne sta-iostooe Annual Fmanc alResults section of our report. We are Independent of the Company, in accordance WIth the Code ofEthics Issued by the Institute of Chartered Accountants of India together with the ethical requirementsthat are relevant to our audit of the financial statements under the orovisions of the Act and the Rulesthereunder, and we have fulfilled our other ethical responsibilities In accordance With these requirementsand the Code of Ethics. We believe that the audit evidence obtameo by us ISsufficient and appropriateto provide a basis for our opinion on the Standalone annual financial results.

Manageme t's and Board of Directors Respo sibilities for the Standaione Annual FinancialResults

These standalone a-meat financial results rave beer prepared on tl"e baSISof me stancatone annualfinancial statements.

The Company's Management and the Board of Directors are responsible for the preparation andpresentation of these standalone annual finanoat results that give a true and fair view of the net prof':and other comprehensive Income and other ""2-""'al "'lformatiol"' In accordance with the recognition andmeasurement principles laid down in India! I Accounting Standards prescnbed under Section 133 of theAct and other accounting principles generally accepted in India and in compliance with Regulation 33 ofthe Listing Regulations, This responsibility also Includes maintenance of adequate accounting recordsIn accordance with the provisions of the Act for safeguarding of the assets of the Company and forpreventing and detectmg frauds and other irregularities; selection and application of appropriateaccounting policies; rnakinq Judgments and esnrna es that are reasonable and prudent; and the design.implementation and rnamtenance of adequate Internal financial controls, that were operating effectivelyfor ensuring accuracy and completeness of the accounting records, relevant to the preparation andpresentation of the standalone annual financial results that give a true and fair view and are free frommaterial misstatement, whether due to fraud or error

In preparing the standatone annual financial results. the Management and tne Board of Directors areresponsible for assess ng the Company's ability to continue as a going concern. disctosmq csapplicable. matters related to going concern and uSIng the gorng concern basis of accour-nnq unless theBoard of Directors either intends to liqUidate the Company or to cease operations or has no realisucalternative but to do so,

The Board of Directors IS responsible for overseeing the Company's financial reporting process

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

Our Objectives are to obtain reasonable assurance about whether the standalone annual financial resultsas a whole are free from material misstatement, whether due to fraud or error, and to Issue an auditor'sreport that Includes our opinion, Reasonable assurance is a high level of assurance but is not aguarantee that an audit conducted in accordance With SAs will always detect a material misstatementwhen it exists. Misstatements can anse from fraud or error and are considered material if, individually orin the aggregate, they could reasonably oe expected to influence the economic oecrs.ons of users takenon the basis of these standalone annual financial results,

As part of an audit in accordance With SAs, we exercise professional judgment and rnaintam professionalskepticism throughout the audit We also:

• Identify and assess the riSKS of material misstatement of the standalone annual f'1a'1clal re" •••Its,whether due to fraud or error, design and perform audit procedures responsive to those risksand 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 oneresulting from error, as fraud may involve collusion, forgery Intentional ormssions.misrepresentations, or the override of Internal control.

• Obtain an understanding of Internal control relevant to the audit in order to desiqn auditprocedures that are appropriate In tne circumstances. Under Section 143(3)(1) of the Act. we arealso responsible for expressing our oom.on through a separate report on the complete set offinancial statements on whether U1e company has adequate internal financial controls withreference to financial statements In place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting polictes used and the reasonableness of accountingestimates and related disclosures In the standalone finanoal results made by tne Managementand Board of Directors

• Conclude on the appropriateness of the Management and Board of Directors use of the goingconcern bass of accounting and. based on the audit evidence obtained, whether a materialuncertainty exists related to events or conditions tnat may cast slgni .,,.. doubt on the

~'\"'\ & Sa~ ~.J'$! .•

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appropriateness of this assurnotron If we conclude that a materal uncertainty exists we arerequired to draw attention in our auditor's report to the related disclosures In the standaloneannual nr-ancral results or. if suet- +sciosures are Inadequate. to modify our opinion Ourconclusions are based on the audit evidence obtained up to tne oate et our auditor's report.However future events or cond nons may cause the Company to cease to contmue as a gOll"gconcern.

• Evaluate the overall presentation. structure and content of the standalone annual financialresults. including the disclosures 8!"Jdwnether the standalone annual financial results representthe undertyinq transactions and events In a manner that achieves fair presentation

Matenality is the magnitude of isstatements In the Standalone Finenciat Results that, individually or Inaggregate, makes it probable that the econormc decrsrons of a reasonably knowledgeable user of theStandalone Financial Results may be Influenced. We consider quantitative matenaltty and qualitativefactors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) toevaluate the effect of any IdentJied misstatements Ir the Standalone Financial Results

We communicate with those charged With governance regarding, among other matters, the plannedscope and timing of the audit and significant audit findings. inclUdIng any Significant deficiencies Inmterna control that we Identify dunnq our audit.

We also provide those c arged With governance with a statement that we have compiled With relevantethical requirements regarding ndependence, and to communicate WIth them all relanonsmos and othermatters that may reasonably be thought to bear on our independence, and where applicable, relatedsafeguards.

Other Matters

The standalone annual finanCial results Include the results for the Quarter ended 31 March 2020 beingthe balancing figure between the audited figures In respect of the full financial year and the publishedunaudited year to date figures up to the third quarter of the current financial year which were subject tolimited review by us.

Gwalior, July 30, 2020

it S. VidyarthiPartner

Membership Number. F-078296UDIN <20()l-%'2~bAAAAcc..., 18/

3

PILANIINVESTMENT AND INDUSTRIES CORPORATION LIMITEDRegistered Office: Birla Building, 9/1 R.N.Mukherjee Road, Kolkata-700001

CIN : L24131WB1948PLC0953D2Websile:www.pllaniinvestment.com: Email:pilanllnvestmentl@gmall.com: Phone .033 40823700/22200600

(RS. In Lakhs)

Statement of Audited Standalone Financial Results for the Quarter and Year ended 31st March, 2020

Revenue from Operations

(1,76,800.30

QUARTER ENDED

001

2,05,987.76

572

31·Mar-20

(Aud-tec)

YEAR ENDED

SINo PARTICULARS 31-Ma'-20 31-Mar·1g

i) Interest Income 3,730.35

31-Dec-19 31·Mw-19

101.41

4222

(Audrted) (Aucueo](Unaudited)

ii) Dividend Incomeiil Net cam on fair value chancesIV OthersI Total Revenue from operations 3,829.03

3,200.79 258 9849.68 1635

1080 263 30.824.974.10 4,42936

233.7687.87 5747 4030 348.09 17209

11 Other Income3,266.61 73.70

0.01 0.2815,273.28 4,851.56

0.01 0.78III Total Income (1+11) 3,829.03 3,266.62 73.98 15,273.29 4,852.34

EXDensesi) F nance Cost 1.07492 110429

392363462

3417 27924307.26 1,886.25

138.53 13518li) Employee Benefit Expenseiii) Deoreciation and Amortisation Exoense 10.94 988 1144 39.17 4620iv) Other ExPenses

(ai Buildina Maintenance and Service Charge 62.25 585 25.69 138.19 9597rb) Others

(IV) Total expenses (IV) 1,830.6364329

1,235.462,031.16

8127 28.595,406.399,866.90

783.24 90062.253.662.598.68(V) Profit before Exceplionall1ems and Tax (Ill-IV) 1,998.40

728.26(654.28

(VI) ExceptIOnal Items(VII) Profit Before Tax (11-111) 1.998.40 2,031.16 /654.28 9,866.90 2,598.68VIII Tax Expense

1.Current Tax 955.34 510.00 (648.91) 1,765.34 (322002. Deferred Tax (0.33 (051 7.97 (7.16 (418.79

IX Profit for the year (VII-VIII) 1.043.39 1,521.67 (13.34 8.108.72 3.339.47X Other Comprehensive Income (nel of taxes) (1,77,843.69 2,04,466.09

790.88

(3,305.5413.318.88

790.88 790.88

(7.162.43 (75,70648946.29 172.367.01790.88 7S0.88

XI Total Comprehensive Income for the year (IX-X)(XII) Paid-up equily share capital (Face Value of the Share Rs.10/- each)(XIII) Earnings per share lof Rs. 101- each) (not annualised) :

(a) BaSIC

(b) Diluted13.191319

19.24 (0.17)1924 (0.17)

102.53 4222102.53

.:

Pilani Investment and Industries Corporation LimitedBalance Sheet as at 31st March, 2020

(Rs. In lakhs)SI

ParticularsAs at As at

No 31.03.2020 31.03.2019ASSETS:

(1) Financial assets(a) Cash & cash equivalents 358.99 34.02(b) Bank balances other than cash and cash equivalents 42.04 45.60(c) Trade receivables 83.97 51.56(d) Loans 1,41,136.00 108.14(e) Investments 3,42,979.93 4,66,541.36(f) Other fina ncial assets 3,370.15

4,87,971.08 4,66,780.68

(2) Non-Financial assets(a) Current tax assets (net) 438.86(b) Deferred tax assets (net) 640.16(c ) Investment property 160.59 193.87(d) Property, plant and equipment 62.18 0.90(e) Other non-financial assets 42.12 57.18

704.35 892.11

TOTAL ASSETS 4,88,615.43 4,67,672.79

LIABILITIESAND EQUITY:liabilities

(1) Financial liabilities(a) Trade payables

(i) Total outstanding dues of micro enterprises and smallenterprises

(ii) Total outstanding dues of creditors other than microenterprises and small enterprises 132.51 15.66

(b) Borrowings (other than debt securities) 42,000.00 24,500.00(c) Other financial liabilities 1,115.38 54.04

43,247.95 24,569.70

(2) Non-financial liabilities :(a) Current tax liabilities (net) 1,255.51(b) Provisions 692.13 185.52(c } Deferred tax liabilities (net) 8,585.16(d I Other non financial liabilities 170.47 45.47

9,448.36 1,486.50

(3) Equity(a) Equity share capital 790.88 790.88(b) Other equity 4,35,188.24 4,40,825.71

4,35,979.12 4,41,616.59

TOTAL LIABILITIES AND EQUITY 4,67,672.79

•

Pilani Investment and Industries Corporation limitedCash Flow Statement for the Year Ended 31st March. 2020

Particulars

A. Cash flow from operating activities

Net Profit before Tax

Adjustements for:

Depreciation

Net gain on fair value changesFinance cost

Operating profit before working capital changes

Changes in working capital:

Trade receivables

Loans and other advances

Trade and other payables

Direct tax paid

Net Cash Flow From/(Used In) in operating activities

B. Cash flow from investment activities

Bank deposits other than cash and cash equivalents

Sale/(Purchase) of investments (Net)

Purchase of property, plant and equipments

Net cash flow from/{used in) in investment activities

C. Cash flow from financing activities

Borrowings (net)

Payment of dividend

Payment of dividend tax

Finance cost

Net cash flow from/fused In) in financing activities

Net increased/(decreased) in cash and cash equivalents(A+B+C)Opening cash and cash equivalents

Closing cash and cash equivalents

Notes:

1. Components of cash and cash equivalents:

ParticularsCash on hand

Balances with banks- In current accounts

Total

(Rs. In Lakhs)

Year Ended 31st

March,2020Year Ended 31st March,

2019

9,866.90 2,598.68

39.17 46.20(0.78) (16.86)

4,307.26 1,886.2514,212.55 4,514.27

(32.41) (27.01)(1,44,382.94) 113.88

1,812.50 (19.25)(1,28,390.30) 4,581.89

(7,660.10) (956.11)(1,36,050.40) 3,625.78

3.561,25,634.00

(67.76)

(2.89)(23,829.51)

(0.69)

(23,833.09)1.25,569.80

17,500.00(1,980.75)

(406.42)

(4,307.26)

24,500.00(1,974.30)

(406.42)(1,886.25)

10,805.57 20,233.03

324.9734.02

358.99

25.728.30

34.02

As at 31.03.2020(Rs. In Lakhs)

As at 3103.2019

0.25 0.06

358.74 33.96358.99 34.02 •

II

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VIDYARTHI S SCHARTERED ACCOUNTANTS

MADHUVAN, 1ST FLOOR, L-3, GANDHI NAGAR, GWALIOR (M. P.)PHONES: (0751) 2420870,2420056 FASCIMILE: (0751) 2425091

E-MAll.: amitvidyarthi@hotmaiLcom

Independent Auditor's ReportToThe Board of DirectorsPilani Investment and Industries Corporation limited

Report on the Audit of the Consolidated Annual Financial Results

Opinion

We have audited the accompanying consolidated annual financial results of Pilani Investment andIndustries Corporation Limited (hereinafter rete-reo to as the and Its subsidiaries(Holding Company and its subsidisnes together referred to as "the and associate. for the yearended 31 March 2020, attached herewith. being submitted by the Holding Company oursuant to therequirement of Regulation 33 of the SEBI (Usling Obligations and Disclosure Requirements)Reg.•dations. 20'15. as amended (,LISTing RegUlations').

In our opinion and to the best of our mtorrnanon and according to the explanations to us andbased on the consideration of report of me other auditor on separate audited financial statements ofthe subsidiaries and associate, the aforesaid consolidated annual financial results

a) include the annual financial results of fOi!owlng entitles

Owned Subsidiary

b) are presented in accordance with tne requirernents of Regulation 33 of thein this regarc, and

Regulattons

c) give a true and fair View in conformity with the recognition and measurement princrples laiddown in the aupficatse Indian Accountmg Standards and other principles generallyaccepted In India, of consolidated net profit ann other cornprenensive Income and otherfinancial irfcrmation of the Group and associate for the year ender] 3'1 MarCh 2020

Basis for Opinion

We conducted our Bum! in accordance With the Standards on Auditing ("SAS") under section143(10) of the Companies Act. 2013 ("the Act") Cur responsibitittes under those SAs are furtherdescribed in the Aucjjtor's Responsibisnes for the Aurjit of 'ne Consonoated Annual FinanCial Resultssecton of our report. We are .ndependent of ti~s Group in accordance with the Code of Etrucs iSSUe()

by the Institute of Chartered Accountants of Inliia together with the ethical requirements that arerelevant to our audit of the financial statements under me provistons ot the Act and the Rulesthereunder, and we have fulfilled our other etr.ical responsibitities in accordance wfth theserequirements and the Code of Ethics. We believe that the aucj,t evidence obtained by us along withthe consideration of audit report of the other 8voi,(V reiEwec to ;r)Jb (a) of the "Other ~:-;:-_

~,\\\ & S(),f A ~i~ fy

~~EO~

Matters" paragraph below. IS sufficieot ana appropr-ate to erovide Cl bas.s for- cur opinion on theconsolidated annual Imancial resutts.

Emphasis of Matter

As explained 10 note 3 of the consohoateo fmanc.al results, the Company s/Group Associate hasconsidered the appointed date as the elate 0' transfer of control as per the crrcu.ar issued oy Ministryof Corporate Affairs and consequently recognised the effect of demerger on appointed date as per thescheme of cernerqer approved by Nationa. Company Law Tribunal. Accordingly, comparative previousperiod figures have been restated, Our opruon IS not modified In respect of this matter,

Management's and Board of Directors' Responsibilities for the Consolidated Annual FinancialResults

These consolidated annual f;nancial results have been prepared or the basis of the consolidatedannual financial statements

The Holding Company's Mar-aqe-nent and the Board of Directors are responsibre for the preparationand presentation of these coosouoarec annua: finanCial results that give a true and tarr v.ew of theconsolidated net profit and other comprenensive Income and other fir.anc.a! 'n"urrnal:on of the Groupin accordance with the recognition ana measurement principles laid cown ,1'1 mo.ar, AccountingStandards prescribed under Section 133 of the Act and omer accounting principles generally acceptedin India and in comoliance with Regulation 33 of the Listing Regulations The respective Managemen:and Board of Directors of the comcanies Included in ~heGroup aoo of its associate are responsible formaintenance of adequate accounting records in accordance with the provrs.ons of the Act forsafeguarding of the assets of each company and for preventing and detecting frauds and otherirregularities; selection and application of appropriate accounting ponces: making Judgments andestimates that are reasonatne and prucent and the deSign. implementation ano ma.ntenance ofadequate internal financial controls. that "'vere operating effectively for ensunng accuracy andcompleteness of the accounting recoros relevant to the preparation and presentation of theconsolidated annual financiat results that glve a true and fair view and are free from materialmisstatement, whether due to fraud or error wrucn nave been used fur me purpose of preparation ofthe consoudated annual financia: results by the Management anc tne Directors of the HoldingCompany, as aforesaid,

In preparing the consolidated annual financ.a: results the Management and the respective Board ofDirectors of the companies .ncluded .n ~r1eGroup a"1j 01 its associate are responsible for assessmothe ability of each corrpany to contrrue as a SWingconcern discrosinq as applicable matters relatedto going concern and using the gOing concern oasis of accounting unless the respective Board ofDirectors either intends to liqUidate the company or to cease operations Of has no reausnc aner-ianvebut to do so.

The respective Board of Directors of the comparues .ncicded In the Group 3'1(1 of us associate ISresponsible for overseeing tne financial reporting process of each company,

Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results

Our objectives are la obtain reascnaoie assurance about whether tne consouoaied annual financralresults as a whole are free from marer.a: r-lIsstaternent, wnetne- OJe to fraliJ or error. and to Issue anauditor's report that includes our opimon Reasor.aole assurance is Cl high level Of assurance but IS nota guarantee that an audit conducted in accordance .th SAs Will always detect a matena: misstatementwhen it exists. Misstatements car arise from fraud er error and are considered materia' if. individuatly

or in the aggregate, they could reascnao: Cc- p :nC'ec tc influence the economic decisions of userstaken on the basis of these consondatec ?~ 1c.3 ",a,-,cial resu ts

As part of an audit in accordance w.th SAs ,.,.e exercise professional jucqrnent ana rnamta.nprofessional skepucisrn throughout the audit ,'ie a.so

• Identify anc assess the risks 0 materia rmssta.ement of the consonoatec anru.at 'tnancialresults. whether Que to fraud or error oesiqn and perform aurnt procedures responsive tothose risks, and obtain auoit evidence tnat IS sufficient and appropnate to prov.de a baSISforour opinion. The risk of not cetectinq a material misstatement resultmq from frauo .s higherthan for one resulting from error as fraud 'nay mvo.ve collusion. 'orgery intentional ormssronsmisrepresentations. or the overnoe Ofmterna, contro

• Obtain an unoerstanding of tnterna. control relevant to the audit In order to design auditprocedures that are appropriate ,n the c.rcurnstances. Under Section 143(3) (I) of the Act. weare also responsible for expressing our opinion through a separate report on the cornpiete setof financial statements on whether the company "as adequate Internal ftnancia' controls withreference to financial statements r) piace ana the operating e<fectlveness of 5..101 controls

• Evaluate the appropriateness Of accounhng pohcies used and the reasonableness ofaccounting estimates anc related o.scioscres II' the consolidated 'inancral results mace by theManagement and Boaro of Directors

• Conclude on the appropnateness 0' the:~v1anagementana Board Of Direc'ors "se Of Ire gOingconcern bass of accountmq ana oasec on the audit evicence ooia.nec Nhether d matenaluncertainly exists related to events or corolnons that may cast Significant ooubt on theappropriateness of this assumpnor- If Ne conch..oe that a matenai uncertamty exists we arerequired to draw attentioo In our auc-tor's report to tne relatea disclosures in tne consonoareoannual financial results or I' sucn disclosures are Inadequate to f')odlry our opinion Ourconclusions are based on the aud.t evioence obta.rec up to the aate of our auditor's reportHowever future events or conditions may cause the Group to cease to continue as a gomgconcern

• Evaluate the overall presentation strucu.re ana cortent of the consohoateo annual financialresults, including the disclosures and whetne the consouoatec annual financial resultsrepresent the underlying transactions ana events in cl manner that achieves f<:1Ifpresentation

• Obtain sufftc.ent appropriate auo« evidence 'egardlng the finanCial resu.ts of the er.tines withinthe Grot.p to express an opinion on the consolidated annual financial results. We areresponsible for the direction. suoervrsron ano performance of the audit Of financral Informationof such entities included in the consolidated financral results of which we are the independentauditors. For the other entity included In the consolidatea anm.al 'inanclal results. wtuch hasbeen audited by other auditor such other auditor remain responsible for the direction,supervision and performance o~the audit carriec out by them We rernarr soterv responsiolefor our audit opinion Our -esponsIDII<tlesIf) 'hiS regara are fl.nt)6r oescnoeo "para .a IOfthesection titled "Other \1atters" m this 8.,"1 -eocrt

Materiality is the magnitude of misstatements .n the Consolidated Fmanc.at Rese-ts mat, ndividuallyor in aggregate, makes it probable tr.at lh& eCO"'OM:C oecis.ons of Cl reasonat»v KnOWledgeable userof the Consolidated Financial Results may be influenced. We consider quantitative materiahty andqualitative factors in li) planning the scope o! o"r auort worK and .~ e an.aunq the esuns 0· our workand (H) to evaluate the effect of any ident:fec misstatements I' the Consoncateo Fmancial Results

We cornrnurucate witn those chargee VI; th goverrar::e of tne >1oldlngCompany aPGsucn otnar entitiesIncluded In the consolidated arr-ua, f,nancla results et Which Ne are the moependent auditorsregarding. among other matters, the planned scope and t mlng 0' tne aco.t and Significant auditfindings, including any significant oeficiencies In nternal controt that we Identify cur.nq our audit

We also provide those charged with governance with a statement that we have complied with relevantethical requirements regarding mcepenoence and to communicate with them all relationships andother matters that may reasonably be thought to bear on our independence, and where applicable,related safeguards

Other Matters

a) The consolidated financial results also includes the group share in net profit of Rs 12092,16lakhs and total comprehensive income of Rs (2418.35) Lakhs for the year ended March 31,2020 as considered in consolidated financial results , III respect of one associate, whosefinancial statements have not been audited by us, These financial statements/financialinformation have been audited by other auditor whose report have been furnished to us bythe Manclgement and our opinion on the consolidated financial resons, in so far as it relatesto the amounts and disclosures included in respect of this associate is based solely on thereport of the other auditor.

Our opinion on the consolidated annual financial results is not rnodiflec in respect of the abovematter with respect to our reliance on the work done and the report of the other auditor.

b) We did not audit the financial statements I financial information of 2 subsrdianes whosefinancial staternents r financial information reflect total assets of Rs 237606 l.akhs as at 31stMarch, 2020, total revenues of Rs 8295 takns. total net profitJ(loSs) after tax of Rs 66,97Lakhs, total comprehensive mcorne of Rs (203,91) Lakhs and cash flows (net) of Rs 51,76Lakns for the year ended on that date, as considered in the consondated financial statements,These financial statements ! financial intormat.on are .mauditeo and have been furnished tous by the Management and our opiruon on the consolidated financial statements, in so far asit relates to the amounts and disclosures !ncluded in respect of these subsidiaries, and ourreport in so far as it relates to the aforesaid subsidiartes, are based solely on such unauditedfinancial statements! financial information, In our opinion and according to the informationand explanations given to us by the Management, these financial statements! financialinformation are not material to the Group. Our report is not modified in respect of this matter.

c) The consolidated annual financial results include the results for the quarter ended 31 March2020 being the balancing figure between the audited figures in respect of the full f.nancial yearand the published unaudited year to date figures up to the third quarter of the current financialyear which were subject to limiied review by us,

For Vidyarthi & SonsChartered Accountants

Firm Registration Number: 000112C

Arnit S, VidyarthiPartner

Membership Number: F·078296UDIN 2.oof82.~b AAAJ.l( ..DloS-5'

Gwalior, July 30, 2020

-----,---------_ ....••.-.--- --PI!.AlillNVESTMENT AiiO INOUSTRIES CORPORAilON LIMITEDR4!gISU,red Offi e : Sit! 9uitdif\g. 911 R.N.Mt.J;her;~ ROiOd. KoI at,,·701l001

cm U.f13lV."Dln41ll'1-C(t.)!.:W2w_~~~ .....·,..~i~nV'O-"~fii..-OfT! F'l"r'f'ttit S)1t31".,nv..,•.~1.~p" eom- Ph()O~ ~-q,.;4f1tft2'''t.10C!" ''''1000,11

{R4 :n l ItS}

UU.utT\::R ENDEO

est ent and Ind stries Corporation limitedCOl\.!.o.ida.~_.!J;.I~(~ ~1J1I~t HLUi! Mur h,~02q

1ft.; In l;akhs)

As at As at:U.03.2020 :i1.03.2019

(Restated)

422.02 452142.04 8HO83.91 !,104

1,41,0:'0.004,18,501.91 :) ~j&.293.S1

3,372.01 1 :0.__ ...•._------

5,63,571.95 '> 'ib 4TJ S:.

437.69 1.'>2

4~il47423.63 4:>] 41

62.76 'J 9{)

61.31 77.; ;

986A1 97, &5

5,64,5S8.36 5,3;·P.•S 17

Pllft~ lar.S

-------_.-A SeTS:Financial ilsse~':;(as okcas!'. e-q ,\',l;e't$

f.\;.'lk :nla,Ic£s ctner Ihnr1 c.ts+ 3(1(1 c.~S" f.qU~J<liW1tS

trace rl'~i\fahlf.:slwns111.,.t!strn~r·s

O· '1~rfl'ld l·jai ~h.'~~

~.J -fin "cial assetstll,"ent :u..(a!)~=~:,T'!f'?-Def.:rrtd till( 'HS .'; (n~tlluvestmer, crcperrvPropert, ;Jlam &. ect. pme!'!O'nE-r nc.!' f.nar r:1~i" ,e(5

rore, ASSETS

L I3llm.t.~a,.Q£Q.IJLrl;LI bilitiesfin,uu::i. liabilitiesTrade pa;"lll to'

11tot" octsm-u: rll ,:ti~S 0 '11;':0 'I'\~f'r~,lliE'~Jro .,n n ent rpns,,:IKj to!,.ill·::ll.r:St.lncr: Il liu€1o cf :rf::C"u'!j, ~h~r tlian r.. ·(,O ~:'\tt-lprISh

ai .d :.m•.,!! ~'(\t('1'p(t';(~S

3(}rrOwJl1f~(otrf"r tnilr d\:,ot Hurjtl ••,)

Ctnet flr3"Cldi ,iatllhtl(>s

lJI()n·final'l~ialli\lbiiitie!oo .Cvnent l~'<, iiabllit,e~netlPrOV'~1(;115

Deterrec t.sx trn:)fI.L€'~ InfOTl"'.1 ht>r no" ~lilM ., ltilcihl1i!5

133.11 16.2C'42.0 .00 24,500.00

1.716.15 6543943.849,26 25VO.S!1

.,25551G~U3 185.52

2,7$1.:19.7(,.6: 4S!l6

9.614.53 J.,~g559

19:!.Sa 790.as5,1~.303 69 S"lO 007.:.5.11.094.57 5,.0,1;7 99

5.,64,558.36 5.3/.4S!'J :1

Ellu;t\,E~ut; ~la e cc.ptav'ht:f llqtJ.ty

TOTAL lA-dIll 'iES MD cOlll rv

I.

trt

r,

I

Pilani I vestment and ir..;! ;I rles Corporation limited~f:!.rn.2iL~~dW.fl~ Statement for ti'te Yeat Ended n~tMA'.Ll1..1P..2..Q

A. CuI! i\ow f,on! oper<ltitlg ac;tl'llti'i!sNt!t f.<1l.[iibe't,t" LI"

Adlu\t ernants for:DepIPt,iaL.O'l

~J~!!p",,tt\l!lo';!. en r;;>1t"Vani!? :han;;,:·'~ 11anri! ,OS!

Operating proft bl:fol"t',",o(ki~ (<lp,hl cna •.•ge~Chil'\gt~ ,t' \/ICri"rg (,:ilpi:,,1:TIade 'eooi.'1abtd>Loa"s "no Q7Jter fFl\i.1,..ce~Trade ••nd ether ~dYllt.les

01re~t tall' paid/lier CJ';" fl;JW frClm/IU~ed '1Jif OP"f~N'-l!I\\.tiviti~,

a CllSf. itow hllll il1l1t!$tr"Ii: t adil/ltle;B II' (··/ODOSII'.nth'! i;'laa cx.h "ne Cisn ('Q~I"3t'!l't~

);l1 •./(f'\.III:I1"",'. >f (I\;~S,J11U1U (~.,~tl?~I t.l:.lse o 1)1O;,! d v pia,,: anc !'Q'UI,»))erL

Net ",,'ill flt./w fr<lm/(us" li1) It! inves ment Ilctivitle"

C, Cash flow h~17lH(l3ntm~ achv.ties8.)I'owirt<;s lnet,P.Vm~"t cl diJiC.!!IId

PJ1tnl'htcf r!ivi'';!E I'd till

F,n.;,,( Il cost

Net GI$h how 1rom/(us>c:j .n] it\ financing itlctlvities

Net Inttea$e~/(detfusl;!'dl in casn ane Gash cqlllvalenu(.J:\+.iHC)

Op<~'llngC<lS!'l,;rr, ta'A1 ('!~Ill.v<llf"-:s.

tics" l~ f",lIlM C (iJS" ':;l..;t"aic1'(;

olesCorrpot'lenl! ot Cl&n al,ll m~h egl. la 1'1"" .

C~~'tC'l !'lJr.d

$aJt?(,·; 1I\>.lrbark!

Total

Year Ended listMarch,2020

Oh In ~aKtt;'Yeill t:noe.13ht

Mill:h.2:l1!)

7,162.00 2~1.80

39.70253

4,)07.2£

4£.13(H,(',;:J

____ l,$!:l991

2,111.83

(31.'.Hj [27491(l,44,405.89) t4S13;

1,810 ?L '>suo(1,,31, 'llS..10} 2,652.91

(7,65B.61t (95687\(U~,!!,!!.()l} 1.~

43.55 1.:·89)l,28,36!J.39 ;21,.126.5&)

(67.76) ;0 G9)

1.28,345.19 (2l,430.26}

1.7.S00.\lO ;;11.020.32(t,980,75) (1,974 30)

/405.42) /4C(42)/4,307.21>' (t.aS9.94)

10,805.57 19,750.18

575.75 15..9645.27 H3l

422.02 45.27

Tot:.1.'<'i at 31 CF., lO;>"

\I\'. 'r. Lakhl:.." at 3.: N.20!9

0.40 o is

42:1.62

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PILANI INVESTMENT AND INDUSTRIESCORPORATION LIMITED

CIN: L24131WB1948PLC095302REGD. OFFICE: BIRLABUILDING, 9/1, R.N.MUKHERJEE ROAD, KOLKATA-700 001

Email: pilaniinvestment1@gmail,com, TELEPHONE: 0334082 3700/22200600, Website : www. pilaniinvestment.com

so= July, 2020

The Manager,Listing DepartmentNational Stock Exchange of India Ltd."Exchange Plaza", Plot No. Cj 1, G BlockBandra Kurla Complex, Bandra (East)Mumbai - 400051

Manager (Listing)BSE Ltd.Phiroze Jeejeebhoy TowersDalal Street,Mumbai-400 001

Sub: Declaration under Regulation 33 (3) (d) of the SEBI (Listing Obligationsand Disclosure Requirements) Regulations, 2015

Ref: Scrip Code: NSE:PILANIINVS:: BSE: 539883:: ISIN:INE417C01014

Dear Sir,

In compliance with the provisions of Regulation 33(3)(d) of SEBI (Listing Obligations andDisclosure Requirements) Regulations, 2015, we declare that Mj s Vidyarthi & Sons,Chartered Accountants, Statutory Auditors of the Company have issued an Audit Reportwith unmodified opinion on the Audited Financial Results (Standalone and Consolidated)of the Company for the quarter and year ended 31st March, 2020.

You are kindly requested to take the same on record.

Thanking you,

Yours faithfully,For Pilani Investment and Industries Corporation Limited

~Q\ ~~ '. r-(

Comp y Secretary t:ry-.

•