F. NSE/QPA/

10th August, 2022

Listing Department

National Stock Exchange of India Limited

Exchange Plaza, Plot No. C/1, G. Block

Bandra Kurla Complex, Bandra(E), Mumbai-400 051

Ref: Scrip Code ARIES.

Sub: Out Come of the Board Meeting held on 10.08.2022.

Dear Sir,

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), please note the following Out Come of the Meeting of the Board of Directors of the Company held on 10th August, 2022:

    1. 1. The Board approved the Un-Audited Financial Results (both Standalone and Consolidated) for the First Quarter ended 30th June, 2022 as required under the Listing Regulations.

    2. The Board considered and recommended appointment of M/S Kirti D. Shah & Associates, Chartered Accountants (Firm Regn No. 115133W Membership No. 32371) having Peer Review Certificate issued by the Institute of Chartered Accountants of India as Statutory Auditors of the Company for a period of 5(five) years from the conclusion of the ensuing Annual General Meeting till the conclusion of the Annual General Meeting to be held in the year 2027 subject to confirmation of the Members in the Annual General Meeting.
    3. The Board considered and approved further Investment in 9,90,000 Equity Shares of Rs. 10/- each at par of the Wholly Owned Subsidiary viz Mirabelle Agro Manufacturing Private Limited.
    4. The Board has also decided to convene the Annual General Meeting of the Company on Thursday, 29th September, 2022.
    5. The Board has fixed Thursday, 22nd September, 2022 as the CUT OFF/RECORD DATE for the purpose of determining the entitlement of the Equity Shareholders for the Dividend-2021-22.
    6. The Board has fixed Payment Date for the Dividend-2021-22 as, on or before Thursday, 20th October, 2022. We are enclosing herewith following:
  2. Un-AuditedFinancial Results (both Standalone and Consolidated) for the First Quarter ended 30th June, 2022.
  3. Limited Review Report by Statutory Auditors.
  4. Brief Profile of M/S Kirti D. Shah & Associates.

The Board Meeting started at 5.18 p.m. and concluded at 7.55 p.m.

Kindly take the same on your records.

Thanking you,

Yours faithfully

QAISER

For Aries Agro Limited

PARVEZ

Qaiser P. Ansari

ANSARI

Company Secretary & Compliance Officer Encl: a/a

Digitally signed by QAISER PARVEZ ANSARI DN: c=IN, o=Personal, postalCode=400703, st=Maharashtra, 2.5.4.20=6d9e9b109fd5d6ecc870e2262b9a1d3fa 3bab341ffd0aef38dcdf5e1513e54e5, pseudonym=A01C4B99922C1CF7446FAD49D61 3DAD8F86B6937, serialNumber=A92B5712F19A68FE53C89BD8B93 4EED8B57F3A0EB6D291C1DCE8166D302B8BFC, cn=QAISER PARVEZ ANSARI

Date: 2022.08.10 19:54:44 +05'30'

AN ISO 9001 COMPANY : Quality Management System: ISO 9001: 2015 Certified

Regd. Office : Aries House, Plot No. 24, Deonar, Govandi (E), Mumbai 400 043. CIN : L99999MH1969PLC014465

Phone : + 91 22 2552 9000, 2556 4052 /53 Fax : + 91 22 2556 4054, 2557 1711

Email : ariesagro@ariesagro.com Website : www.ariesagro.com

ARIES AGRO LIMITED

Registered Office: Aries House, Plot No. 24, Deonar, Govandi (E), Mumbai - 400 043.

PART I - STATEMENT OF UN-AUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2022

Rupees in Lakhs (Except EPS)

Consolidated Financial Results

Three Months Ended

Preceeding Three

Corresponding Three

Accounting Year

Months Ended

Months Ended in the

Ended

Sr No

Particulars

Previous Year

30-Jun-22

31-Mar-22

30-Jun-21

31-Mar-22

( UN-AUDITED )

( AUDITED )

( UN-AUDITED )

( AUDITED )

1

Income from Operations

a)

Revenue from Operations

14,543.22

10,774.21

12,748.62

54,808.76

Less :- Discounts / Rebates

3,246.55

2,378.62

2,733.03

10,805.45

Net Income from Operations

11,296.67

8,395.59

10,015.58

44,003.31

b)

Other Operating Income

449.79

208.85

161.23

391.06

Total Income from Operations (net)

11,746.46

8,604.44

10,176.81

44,394.37

2

Expenses

a)

Consumption of Materials / Rebranded Goods

3,123.13

2,304.13

2,651.28

14,608.43

b)

Cost of Products Traded

3,032.70

1,303.50

3,011.85

7,197.75

c)

Changes in Inventories of Finished Goods and Work in Progress

(542.99)

900.91

(194.44)

1,216.24

d)

Employee Benefits Expense

1,219.19

1,263.73

1,035.42

4,615.87

e)

Finance Costs

484.79

702.33

520.89

2,447.34

f)

Depreciation & Amortisation Expense

139.93

185.97

117.65

578.27

g)

Other Expenses

3,178.85

3,083.13

2,141.05

11,702.35

Total Expenses

10,635.60

9,743.69

9,283.70

42,366.25

3

Profit / ( Loss ) from Operations before Exceptional Items (1 - 2 )

1,110.87

(1,139.25)

893.11

2,028.12

4

Exceptional Items

-

-

-

-

5

Profit / ( Loss ) for the period ( 3 + 4 )

1,110.87

(1,139.25)

893.11

2,028.12

6

Tax Expense

(a) Current Tax

313.00

(288.00)

272.00

732.00

(b) Adjustment of Tax relating to Earlier Year

-

(31.75)

-

(40.75)

(c) Deferred Tax

30.62

(16.16)

32.89

42.53

Total Tax Expenses

343.62

(335.91)

304.89

733.78

7

Net Profit / (Loss) for the period ( 5 - 6 )

767.25

(803.34)

588.22

1,294.34

8

Share of Profit / (Loss ) of Associates and Joint Ventures accounted for using equity method

83.91

(133.87)

(129.08)

(51.40)

9

Net Profit / (Loss) for the period ( 7 + 8 )

638.17

(719.43)

536.82

1,160.48

10

Other Comprehensive Income / Loss

(A)

Items that will not be reclassified to Profit or Loss

(i)

Changes in Revaluation Surplus

-

-

-

-

(ii)

Remeasurements of Defined Benefit Plans

(3.05)

68.81

(67.62)

25.74

(iii)

Equity Instruments through OCI

-

-

-

-

(3.05)

68.81

(67.62)

25.74

(iv)

Less :- Income Tax relating to Items that will not be reclassified to Profit or Loss

(18.70)

9.62

(11.21)

11.72

15.65

59.19

(56.41)

14.01

(B)

Items that will be reclassified to Profit or Loss

(i)

Exchange Differences in translating the Financial Statements of Foreign Operation

(5.28)

(6.61)

(1.31)

(11.47)

(ii)

Debt Instruments through OCI

-

-

-

-

(iii)

The effective portion of gains and loss on hedging instruments in a cash flow hedge

-

-

-

-

(5.28)

(6.61)

(1.31)

(11.47)

(iv)

Less :- Income Tax relating to Items that will be reclassified to Profit or Loss

(1.54)

1.42

(0.37)

-

(3.74)

(8.02)

(0.93)

(11.47)

11.91

51.17

(57.34)

2.55

11

Total Comprehensive Income for the period ( 9 + 10 )

650.08

(668.27)

479.48

1,163.02

12

Profit / (Loss) for the period attributable to :

Owners of the Holding Company

701.35

(708.44)

582.04

1,329.03

Non-Controlling Interest

(63.18)

(10.99)

(45.22)

(168.56)

638.17

(719.43)

536.82

1,160.48

13

Total Comprehensive Income for the period attributable to :

Owners of the Holding Company

714.19

(655.27)

524.93

1,334.45

Non-Controlling Interest

(64.11)

(13.00)

(45.45)

(171.43)

650.08

(668.27)

479.48

1,163.02

14

Paid up Equity Share Capital (face value of Rs. 10/- each)

1,300.43

1,300.43

1,300.43

1,300.43

15

Other Equity (excluding Revaluation Reserve) as shown in the Audited Balance Sheet of the Previous Year

21,124.09

21,124.09

19,755.73

21,124.09

16

Earnings per Share (for continuing & discontinued operations) in Rupees

( of Rs.10/-each ) ( not annualised ) :

(a)

Basic

5.39

(5.45)

4.48

10.22

(b)

Diluted

5.39

(5.45)

4.48

10.22

Rupees in Lakhs (Except EPS)

Standalone Financial Results

Three Months Ended

Preceeding Three

Corresponding Three

Accounting Year

Months Ended

Months Ended in the

Ended

Previous Year

30-Jun-22

31-Mar-22

30-Jun-21

31-Mar-22

( UN-AUDITED )

( AUDITED )

( UN-AUDITED )

( AUDITED )

14,521.73

10,742.44

12,747.24

54,752.45

3,246.55

2,378.62

2,733.03

10,805.45

11,275.18

8,363.82

10,014.20

43,947.00

564.53

-

285.66

882.72

11,839.71

8,690.33

10,299.86

44,829.72

3,262.92

2,727.30

2,794.68

15,062.58

2,914.85

884.68

2,880.68

6,778.93

(533.14)

899.44

(194.44)

1,216.36

1,191.96

1,230.92

1,019.94

4,528.40

479.54

691.22

512.40

2,430.44

135.15

187.24

117.59

565.35

3,152.13

3,052.59

2,117.70

11,592.63

10,603.42

9,673.40

9,248.55

42,174.71

1,236.29

(983.07)

1,051.31

2,655.02

-

-

-

-

1,236.29

(983.07)

1,051.31

2,655.02

313.00

(288.00)

272.00

732.00

-

(31.69)

-

(40.75)

34.88

2.70

32.89

61.39

347.88

(316.99)

304.89

752.64

888.42

(666.08)

746.42

1,902.38

-

-

-

-

888.42

(666.08)

746.42

1,902.38

-

-

-

-

(3.05)

68.81

(67.62)

25.74

-

-

-

-

(3.05)

68.81

(67.62)

25.74

(18.70)

9.62

(11.21)

11.72

15.65

59.19

(56.41)

14.01

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15.65

59.19

(56.41)

14.01

904.07

(606.89)

690.01

1,916.39

888.42

(666.08)

746.42

1,902.38

-

-

-

-

888.42

(666.08)

746.42

1,902.38

904.07

(606.89)

690.01

1,916.39

-

-

-

-

904.07

(606.89)

690.01

1,916.39

1,300.43

1,300.43

1,300.43

1,300.43

19,564.49

19,564.49

17,752.14

19,564.49

6.83

(5.12)

5.74

14.63

6.83

(5.12)

5.74

14.63

Notes for the Quarter Ended on 30th June, 2022 :-

  1. The results have been prepared in accordance with the Indian Accounting Standards (Ind AS) notified under the Companies (Ind AS) Rules, 2015 and subsequent amendments
  2. As the Company's business activity falls within a single primary business segment, the disclosure requirements of Accounting Standard (Ind AS-108)" Operating Segments ", are not applicable.
  3. Since the Company's business relates to Micronutrient Fertilizers, Plant Nutrient Solutions etc. the same is impacted by cropping pattern, seasonality and erratic weather conditions across the Globe in general and India in particular.Accordingly, quarterly figures are not representative of the full year's performance.
  1. The above Financial Results were reviewed and recommended by the Audit Committee and there upon approved by the Board of Directors at their respective meetings held on 10th August, 2022
  2. The Statutory Auditors have carried out a Limited Review of the Results for the Quarter ended 30th June, 2022.
  3. The Un-Audited Standalone / Consolidated financial results are for the Quarter ended 30th June, 2022.
  4. The Consolidated Un-Audited Financial Results have been prepared in accordance with Ind AS 110" Consolidated Financial Statements".
  5. Figures for the quarter ended 31st March, 2022 represents the difference between audited figures in respect of the full financial year and the published figures of nine months ended 31st December, 2021.
  6. With reference to Para 4.3 of the Circular SEBI/HO/DDHS/CIR/P/2018/144 dated 26.11.2018, we wish to state that we are not a LARGE CORPORATE within the meaning of Para 2.2(ii) of the aforesaid Circular.
  1. The global supply chain crisis, inflationary pressure on costs of raw material and packing material have had an impact on the Company. This impact is expected to continue in the medium term, until supply chains stabilize.
  2. The Company has adopted Ind AS 116, effective Annual Reporting period beginning 1st April, 2019 and applied the Standard to its Leases prospectively which impacted Depreciation.
  3. The Board has approved further Investment in 9,90,000 Equity Shares of Rs. 10/- each at par of the Wholly Owned Subsidiary viz Mirabelle Agro Manufacturing Private Limited.

13

Previous Period's / Year's figures

have been re-grouped /re-arranged wherever necessary to correspond with the Current Period's figures.

14

The above results will be made available at the Company's Website at www.ariesagro.comon or after 11th August, 2022.

For Aries Agro Limited

Dr. Rahul Mirchandani

Place:

Mumbai

Chairman & Managing Director

Date:

10th August, 2022

DIN : 00239057

RAHUL THAKURDAS MIRCHANDANI

Digitally signed by RAHUL THAKURDAS MIRCHANDANI

DN: c=IN, o=Personal, postalCode=400088, st=Maharashtra, 2.5.4.20=c7278bebc27d8a3d712e2c000821465 40b0697f8d2ec36785337483451b3430e, pseudonym=B259CD77A744DAD5A471D9C3F A0F705A4AF9ED2E, serialNumber=B6351DB48686C94B2CA569DD1 A7BBE941B85B4D742BCD253B24A1364731D12 DD, cn=RAHUL THAKURDAS MIRCHANDANI Date: 2022.08.10 19:57:15 +05'30'

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Aries Agro Limited published this content on 16 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 September 2022 05:09:01 UTC.