1/J IO IOL CHEMICALS AND PHARMACEUTICALS LIMITED

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November2018 Subject: Un-audited Financial Results for the Quarter and half year ended 30 September 2018 Dear Sir, Pursuant to Regulations 30 and 33 of SEBI (Listing Obligations and Disclosure.

1 1/J IO IOL CHEMICALS AND PHARMACEUTICALS LIMITED The General Manager National Stock Exchange of India Ltd. Exchange Plaza, Plot no. C/1, G Block, Bandra-Kurla Complex, Bandra (E) Mumbai The General Manager Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers, Dalal Street Mumbai IOLCP/CGC/ November2018 Subject: Un-audited Financial Results for the Quarter and half year ended 30 September 2018 Dear Sir, Pursuant to Regulations 30 and 33 of SEBI (Listing Obligations and Disclosure. Requirements) Regulations, 2015, we are enclosing un-audited Financial Results for the Quarter and half year ended 30 September 2018 as approved by the Board of Directors in its meeting held on 14 November 2018 (12.00 Noon to 3:40 PM) along with Limited Review Report on the Un-audited Financial Results by M/s Ashwani & Associates, Statutory Auditors of the company. The same is also available on the website of the Company i.e. This is for your information & record please. Thanking You.....,.._ ~ -... Head Office: 85, Industrial Area 'A', Ludhiana (Pb.) India CIN - L24116PB1986PLC Ph. : Fax : , contact@iolcp.com Website : iolcp.com Works: Village Fatehgarh Channa, Mansa Road ( Trident Complex) District - Barnala, State - Punjab, INDIA. Ph. : , Fax :

1 o1jj IOL CHEMICALS AND PHARMACEUTICALS LlMITED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2018 Rs. Crore Sr.

30 September 2018 30 June 2018 30 September 2017 30 September 2018 30 September 2017 31 March 2018 Unaudited Unaudited Unaudited Unaudited Unaudited Audited I Revenue from operations 422.91 361.

2 1 o1jj IOL CHEMICALS AND PHARMACEUTICALS LlMITED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2018 Rs. Crore Sr. Particulars Quarter ended Half vear ended Year ended No. 30 September June September September September March 2018 Unaudited Unaudited Unaudited Unaudited Unaudited Audited I Revenue from operations ' , II Other Income Ill Total revenue (1+11) , IV Exoenses Cost of materials consumed Changes in inventories of finished goods and work-in-oroaress Ernolovee benefits exoense Finance costs Denreciation and amortization expense Excise dutv on sale of aoods Other exoenses Total Exoenses V Profit/(loss) before exceptional items and tax (Ill-IV) VI Exceptional items VII Profit before tax /V-VIT VIII Tax Expense (i) Current tax I (ii) Deferred tax (0.42) (3.12) Total tax exoense IX Profit for the period for continuing operation /VII-VIII\ X Profit/(loss\ from discontinued ooerations XI Tax expense of discontinued ooerations XII Profit/(loss) from discontinued operations (after tax) XIII Profit for the period XIV Other Comnrehensive Income (i) Items that will not be reclassified to (0.99) A I Profit or loss (ii) Income tax relating to items that will not be reclassified to Profit or loss (i) Items that will be reclassified to profit or loss B (ii) Income tax relating to items that will be reclassified to profit or loss xv Total Comorehensive Income for the XVI Paid-up equity share capital (Face value Rs.10/- ner share) Earning per equity share of Rs.10/- each XVII /for continuina operations) Basic Diluted Cash Head Office : 85, Industrial Area 'A', Ludhiana (Pb.) India CIN - L24116PB1986PLC Ph. : Fax : , contact@iolcp.com Website : iolcp.com Y, Works: Village Fatehgarh Channa, Mansa Road (Trident Complex) District - Barnala, State - Punjab, INDIA. Ph. : , Fax :

1 oy!j IOL CHEMICALS AND PHARMACEUTICALS LIMITED Particulars ASSETS 1 Non-current assets (a) Property, Plant and Equipment (b) Capital work in progress (c) Intangible assets (d) (e) Deferred tax

75 0.83 2.64 11.42 2.19 1.53 436.61 425.

3 1 oy!j IOL CHEMICALS AND PHARMACEUTICALS LIMITED Particulars ASSETS 1 Non-current assets (a) Property, Plant and Equipment (b) Capital work in progress (c) Intangible assets (d) (e) Deferred tax assets (net) Other non current assets Total non-current assets STATEMENT OF ASSETS AND LIABILITIES As at 30 September 2018 Unaudited Rs. Crore As at 31 March 2018 Audited Current Assets (a) Inventories (b) Financial assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Other Bank Balances [other than (iii) above] (v) Other financial assets (c) Other current assets Total current assets EQUITY AND LIABILITIES Equity (a) Share capital (b) Other equity Total equity Liabilities 1 Non-current liabilities (a) Financial Liabilities (i) Borrowings (ii) Other financial liabilities (b) Provisions (c) Other non current liabilities Total non-current liabilities TOTAL ASSETS====~~~= Current Liabilities (a) Financial Liabilities (i) Borrowings (ii) Trade payables (A) Total outstanding dues of Micro enterprises and small enterprises (B) Total outstanding dues of Creditors other than Micro enterprises and small enterprises (iii) Other financial liabilities (b) Other current liabilities (c) Provisions (d) Current tax liabilities (net) Total current liabilities ,... ~, ~... TOTAL EQUITY AND LIABILITIES====~..;.;.;~====,;,;,;;.~,..)lead Office: 85, Industrial Area 'A', Ludhiana (Pb.) India CIN - L24116PB1986PLC V Ph. : Fax: , contact@iolcp.com Website: iolcp.com Works: Village Fatehgarh Channa, Mansa Road (Trident Complex) District - Barnala, State - Punjab, INDIA. Ph. : , Fax :

Unaudited Audited 1 Seamen! Revenue /Net sale/income) - Chemicals 196.33 157.10 105.03 353.43 218.62 489.28 - Druos 270.11 248.07 144.54 518.18 275.45 624.44 - Unallocated 7.83 5.25 2.27 13.08 3.

4 IO~ IOL CHEMICALS AND PHARMACEUTICALS LIMITED SEGMENT WISE REVENUE, RESULTS, ASSETS AND LIABILITIES Rs. Crore Sr.No. Particulars Quarter ended Half vear ended Year ended 30 September June September September Sentember March 2018 Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1 Seamen! Revenue /Net sale/income) - Chemicals Druos Unallocated Total , Less: Inter seamen! revenue Net sales/income from operations Seoment Results Profit/+l/floss11-l before tax and interest from each seornent) - Chemicals Drucs Total Less: Interest Add: Other un-allocable income net off un-allocable exoenditure Total Profit(+)/(loss) (-) before tax & Extraordinary items 3 Seoment Assets - Chemicals Oruos Unallocated Total Assets Seament Liabilities - Chemicals Druas Unallocated Total Liabilities NOTES: 1. The above results have been reviewed by the Audit & Risk Management Committee and thereafter approved by the Board of Directors in their respective meetings held on 14 November 2018 and these results have been subjected to limited review by the Statutory Auditors. 2. The company enhanced annual installed capacity of Metformin (Unit IV) from 3000 MT to 4000 MT with capex of Rs.2.71 crore. The Company has also successfully set up Unit V to manufacture Clopidogrel Bisulphate & Fenofibrate with a capacity of 180 MT per annum with capex of Rs crore. Both capex funded through internal accruals. 3. Excise duty realised is included in revenue from operations of periods upto 30 June 2017 and revenue from operations for the subsequent periods are net of Goods and service tax (GST). Accordingly, the figure of revenue from operations for the six months ended 30 September 2018 is not comparable with the figures of six months ended 30 September ' 4. Effective 1 April 2018, the company has adopted Ind AS 115 revenue from contracts with customers and its application did not have any material impact on the financial results of the company. 5. The previous financial period figures have been regrouped/rearranged wherever considered necessary. By order of the Board For IOL Chemicals and Pharmaceuticals Limited.. '. ~- n \~~ Place: Ludhiana Date: 14 November 2018 \ Vijay Garg Joint Managing Director DIN: Head Office: 85, Industrial Area 'A', Ludhiana (Pb.) India CIN - L24116PB1986PLC y-' Ph. : Fax : , contact@iolcp.com Website : iolcp.com Works: Village Fatehgarh Channa, Mansa Road (Trident Complex) District - Barnala, State - Punjab, INDIA. Ph.: , Fax:

ashwani & associates chartered accountants : a t;dlidni,;:ngn ru~i;r iudf1.and,pu 11~..0:r:t, i-yl-161?3f'1394.-.s1 1 j(";f'l!!1i' ~ 91 '61-2302083 r 1J1 1r:ru,.{l.1sl1wa1112.::,soe:ak,.

We have reviewed the unaudited financial results of Mis IOL Chemicals and Pharmaceuticals Ltd.

5 ashwani & associates chartered accountants : a t;dlidni,;:ngn ru~i;r iudf1.and,pu 11~..0:r:t, i-yl-161?3f' s1 1 j(";f'l!!1i' ~ 91 ' r 1J1 1r:ru,.{l.1sl1wa1112.::,soe:ak,.in Independent Auditors' Report on Review of Interim Financial Results To The Board of Directors IOL Chemicals and Pharmaceuticals Ltd. 85, Industrial Area-A Ludhiana 1. We have reviewed the unaudited financial results of Mis IOL Chemicals and Pharmaceuticals Ltd. (the "Company") for the quarter ended September 30, 2018 and the year to date results for the period April 1, 2018 to September 30, 2018, which are included in the accompanying 'Unaudited Financial Results for the Quarter and Six months ended September 30, 2018, and the unaudited Balance Sheet as on that date, ("the Statement") being submitted by the Company pursuant to Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as modified by SEBI Circular ClR/CFD/FAC/62/2016 dated July 5, 2016, and CTR/IMD/DFf/69/ 2016 dated August I 0, 20 I 6 (the "Listing Regulations"), which has been initialed by us for identification purposes. The Statement which is the responsibility of the Company's Management, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard (Ind AS) 34 "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 20 I 3 read with relevant rules issued thereunder and other accounting principles generally accepted in India and has been approved by the Board of Directors. Our responsibility is to issue a report on the Statement based on our review. 2. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Jnterim 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 Statement is free of material misstatement A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express a11 audit opinion. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accordance with the applicable Accounting Standards prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies, and has not disclosed the information required to be

ashwani & ass iates chartered accountants 19-a, udrian- singn n:igar 1udruana 1pun1dt,1 VOICO -, 91-lf>l-230139,1 f.jcs,m1l1: 191-161.

as amended from time to time, including the manner in which it is to be disclosed, or that it contains any material misstatement. 5.

6 ashwani & ass iates chartered accountants 19-a, udrian- singn n:igar 1udruana 1pun1dt,1 VOICO -, 91-lf>l ,1 f.jcs,m1l1: '~0208:J 1 1 Ou' disclosed in terms of Regulation 33 and Regulation 52 of the Listing Regulations. as amended from time to time, including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. The comparative financial results of the Company for the quarter and half year ended September 30, 2017, included in this financial result was reviewed by the predecessor Auditor, who, vide their Report dated November 13, 2017 expressed unqualified opinion on these financial results. The review of Financial Results for the Quarter ended June 30, 2018 was carried out by the predecessor Auditor, who, vide their Report dated August 11, 2018, expressed unqualified opinion on these financial results. Also, the Ind As financial statements of the Company for the year ended March 31,20 I 8, were audited by predecessor auditor who expressed an unmodified opinion on those financial information on May Our opinion is not modified in respect of this matter. Place : Ludhiana Dated:

1 o1jj IOL CHEMICALS AND PHARMACEUTICALS LlMITED

1 o1jj IOL CHEMICALS AND PHARMACEUTICALS LlMITED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2018 Sr. Particulars Quarter ended Half vear ended Year ended No. 30 September