LIMITED. Company Code: Sub: Unaudited Financial Results for the Quarter and half year ended September

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1 POLYCHEM LIMITED REGD. OFFICE: 7, JAMSHEDJI TATA ROAD, CHURCHGATE RECLAMATION, MUMBAI HO:CS&CO:297/2018 TELEPHONE : {l048 FAX: URL CIN : polychemltd@kilachand.com : L24100MH1955PlC th November, 2018 Bombay Stock Exchange Jeejeebhoy Towers Dalal Street, Fort Mumbai Ltd. Company Code: Dear Sir, Sub: Unaudited Financial Results for the Quarter and half year ended September We are sending herewith Statement of Standalone Unaudited Financial Results for the Quarter and half year ended September 30, 2018, taken on record by the Board of Directors in their meeting held on 5 th November, 2018, together with the Limited Review Report for the quarter and half year ended September 30, 2018 from the Statutory Auditors, MIs. Nayan Parikh & Co. Thanking you, Yours faithfully, For POL YCHEM LIMITED, ~~ DEEPALI V CHAUHAN COMPANY SECRETARY & COMPLIANCE OFFICER

2 NAYAN PARIKH & CO. (REGISTERED) CHARTERED ACCOUNTANTS OFFICE NO.9, 2NDFLOOR, JAIN CHAMBERS, 577, S.v. ROAD, BANDRA (WEST), MUMBAI , INDIA. PHONE: (91-22) , Independent Auditor's Limited Review Report on the Unaudited Standalone Financial Results ofpolychem Limited for the Quarter and Half Year ended on September 30,2018 pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 To The Board of Directors Polychem Limited Mumbai 1. We have reviewed the accompanying statement of unaudited quarterly standalone financial results of Polychem Limited ("the Company") for the quarter and half year ended on September 30, 2018, ("the Statement"),being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Circular No. CIRlCFD/FAC/62/2016 dated July 5, 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 principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and other accounting principles generally accepted in India. 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 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 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 an audit opinion. ----~~ Ikltcf (1 o *

3 NAYAN PARIKH & CO. 3. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI circular no.cirjcfd/f ACI62/20 16 dated July 5, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement. For Nayan Parikh & Co. Chartered Accountants Firm Registr o W Place: Mumbai Date: November OS, 2018

4 POLYCHEM LIMITED ClN NO:L241ooMHI955PLC Regd. Office - 7 J Tata Road, Mumbai Telephone: ; pol)'chemltd@kilachand.com Website. Statement of Unaudited Standalone Financial Results For The Quarter and Half Year Ended Septmeber 30,2018 (Rs. in Lakhs Quarter ended on Half Year Ended Year Ended Sr. No. Particulars 3O-Sep-18 3O-Jun-18 3O-Sep-17 3O-Sep-\8 3O-Sep-t7 31-Mar-18 Unaudited Unaudited Unaudited Unaudited Unaudited Audited I Revenue (rom Operations (a) Net Sales , (b) Other Operating Income Other Income Total Income (1+2) \, Expenses (a) Cost of materials consumed , (b) Changes in inventories of finished goods, work-in-progress and stock- in-trade (12.86) (5.37) (21.87) (18.23) (7.37) 4.23 (e) Excise duty (d) Processing charges (e) Employee benefits expense <0 Depreciation and amortisation expense (g) Other expenses Total Expenses , Profit 1 (Loss) before Tax (3-4) (1038) 6 Tax expenses Current Tax (for the year) Current Tax (relating to prior years) (0.76) (0.76) 0.76 Deferred Tax (0.11) (028) 1.12 (0.39) Net Profit I (Loss) for the period after Tax (5-6) (1385) 8 Other Comprehensive Income Items that will not be re-classified to Profit or Loss Re-measurements of the defined benefit plans (net of tax) Income tax relating to items that will not be reclassified to profit or loss 9 Total Comprehensive Income for the period (7-8) Paid-up Equity Share Capital (Face value Rs per share) II Eamina Per Share - (Basic, diluted and not annualised) (Rs.) (3.43) The above results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors in their respective meeting held on Nov 05, The Statutory Auditors have carried out limited review of the results for the quarter and half year ended September 30, These results have been prepared in accordance with the Indian Accounting Standards (lnd AS) prescribed under section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable. Revenue from operations for the quarter and half year ended September 30,2018 and year ended March 31, 2018 are shown net of Goods and Service Tax (GST). Net sales for the corresponding half year is sho\\'tiinclusive of excise duty and for the financial year ended March 31, 2018 includes excise duty upto June 30, For comparison purpose revenue excluding excise duty is given below: Particulars CRs. in Lakhs Quarter ended on Half Year Ended Year Ended 3O-SeD-18 3O-Jun-IS 3O-Seo-17 3O-Sep-18 I 3O-Seo Mar-IS Unaudited Unaudited Unaudited Unaudited Unaudited Audited Net Sales excluding excise duty Previous quarter's/year's figures have been regrouped wherever necessary to confinn to those of current quarter's/year's classification.

5 Statement of Unaudited Segment Infonnation for the Quarter and Half Year ended September (Rs. in Lakhs) Quarter ended on Half Year ended Year ended Sr. No. Particulars 3O-Sep-18 3O-Jun-18 3O-Sep-17 3O-Sep-18 3O-Sep Mar-18 I Segment Revenue (net sale/income from each segment) Unaudited Unaudited Unaudited Unaudited Unaudited Audited (a) Property Development (b) Specialty Chemicals :02 1, (c) Unallocated Total Less: fnter Segment Revenue Revenue from operations Segment Results ProfitlLoss before tax and interest from each segment (a) Property Development (b) Speciality Chemicals (c) Unallocated Total ,15 Less: :il Other Un-allocable Expenditure (net om Total Profit Before Tax (10.38) 3 Segment Asset (Segment assets - Segment liabilities) (a) Property Development (b) Speciality Chemicals (c) Unallocated \ Total , , , Segment Liabilities (a) Property Development (b) Speciality Chemicals (c) Unallocated Total , Segment infonnation Segment information for primary segment reporting (by business segments)" The Company has two business segments: (i) Property Development (ii) Specialty Chemicals Place: Mumbai Date: Nov P T KILACHAND ( סס - (DIN Managing Director

6 POLYCHEM LIMITED ClN NO:L24100MHI955PLC Regd. Office - 7 J Tata Road, Mumbai Telephone: ; polychemltd@kilachand.com Website : ASSETS Statement of Standalone Assets and Liabiilites as at Se uember 30, 2018 As at Particulars 30-Se )-18 Unaudited (Rs. in Lakhs 31-Mar-18 Audited Non-current assets Property. plant and equipment Other Intangible assets Financial assets Investments Loans Other financial assets Deferred tax assets (Net) Other non-current assets Total non-current assets Current Assets Inventories Financial Assets Trade receivables Cash and cash equivalents Bank balances other than cash and cash equivalents Loans Other financial assets CUITenttax assets (Net) Other current assets Total current assets 1, , Total assets 1, , EQUITY AND LIABILITIES Equity Equity Share capital Other Equity , Total equity 1, , Liabilities Current liabilities Financial Liabilities Trade pavables Total outstanding dues of Micro Enterprises & Small Enterprises Total outstanding dues of Creditors other than Micro Enterprises & Small Enterprises Other financial liabilities Other CUITentliabilities Provisions Total current liabilities Total equity and liabilities 1, , Place: Mumbai Date: Nov OS, 2018 ~Kilachand (DIN ) Managing Director

THE NATIONAL STOCK EXCHANGE OF INDIA LIMITED Exchange Plaza, 5th Floor, Plot No. C/1, G Block Bandra-Kurla Complex, Sandra (East) Mumbai

THE NATIONAL STOCK EXCHANGE OF INDIA LIMITED Exchange Plaza, 5th Floor, Plot No. C/1, G Block Bandra-Kurla Complex, Sandra (East) Mumbai GlaxoSmithKline Pharmaceuticals Ltd. GSK House, Dr. Annie Besant Road, Worli, Mumbai - 400 030 Tel No: +9 I 22 2495 9595 Fax No: +91 22 2495 9494 Web: www.gsk-india.com Email: askus@gsk.com 24th July,