Regulations, 2015, as amended (the Listing Regulations). · Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company

Page 1

6.] 3 £23 3’ i; ’ v 3 12th Floor, The RubyM: tit, J g Q-m Qé 3 [Z3423 29SenapatiBapatMarg

(Chartered Accountants Dadar (West)Mumbai - 400 028, India

Tel : +91 22 6819 8000

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated

Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations

and Disclosure Requirements) Regulations, 2015, as amended

Review Report to

The Board of Directors

Future Consumer Limited

1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of

Future Consumer Limited (the “Holding Company") and its subsidiaries (the Holding Company

and its subsidiaries together referred to as “the Group"), its associate and joint ventures for the

quarter ended December 31, 2019 and year to date from April 01, 2019 to December 31, 2019

(the “Statement") attached herewith, being submitted by the Holding Company pursuant to the

requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015, as amended (the “Listing Regulations").

2. This Statement, which is the responsibility of the Holding Company’s Management and approved

by the Holding Company's Board of Directors, has been prepared in accordance with the

recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS

34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as

amended, read with relevant rules issued thereunder and other accounting principles generally

accepted in India. Our responsibility is to express a conclusion on the Statement based on our

reVIew.

3. We conducted our review of the Statement in accordance with the Standard on Review

Engagements (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 of interim financial

information consists of making inquiries, primarily of persons responsible for financial and

accounting matters, and applying analytical and other review procedures. A review is

substantially less in scope than an audit conducted in accordance with Standards on Auditing

and consequently does not enable us to obtain assurance that we would become aware of all

significant matters that might be identified in an audit. Accordingly, we do not express an audit

opinion.

We also performed procedures in accordance with the Circular No. ClR/CFD/CMD1/44/2019dated March 29, 2019 issued by the Securities and Exchange Board of India under Regulation

33(8) of the Listing Regulations, to the extent applicable.

4. The Statement includes the results of the entities as detailed out in Annexure l.

5. The accompanying Statement includes unaudited interim financial results and other unaudited

financial information of 11 subsidiaries,whose interim financial results reflect total revenues of

Rs. 23,856.84 Lakhs and Rs 74,257.02 Lakhs, total net loss after tax of Rs. 1,465.02 Lakhs

and Rs 3,959.37 Lakhs, total comprehensive loss of Rs. 1,474.27 Lakhs and Rs 3,985.29 Lakhs,

for the quarter ended December 31, 2019 and for the period from April 01, 2019 to December

31, 2019, respectively. The Statement also includes the Group's share of net loss after tax of

Rs. 927.93 Lakhs and Rs. 2,626.23 Lakhs and total comprehensive loss of Rs. 927.38 Lakhs

and Rs 2,624.73 Lakhs, for the quarter ended December 31, 2019 and for the period from April

01, 2019 to December 31, 2019, respectively, as considered in the Statement, in respect of 10

associate and joint ventures, whose interim financial results have been reviewed by their

respective independent auditors. The independent auditor's reports on interim financial results

of these entities have been furnished to us by the Management and our conclusion on the

Statement, in so far as it relates to the amounts and disclosures in respect of these subsidiaries,

S R B C & CO LLP, a Limited Liability Partnership with LLP identity N0. AAB-4318Reqd. Office : 22, Carnac Street, Block '8', 3rd Floor. Kolkata'700 016

Page 2

:3: 33 33 3: 3 3 3 ,3 3‘ 3 33‘Chartered Accountants

Future Consumer Limited

Limited Review Report on Consolidated Financial Results

joint ventures and associate is based solely on the report of such auditors and proceduresperformed by us as stated in paragraph 3 above.

Our conclusion on the Statement in respect of matters stated in para above is not modified withrespect to our reliance on the work done and the reports of the other auditors.

6. Based on our review conducted and procedures performed as stated in paragraph 3 above andbased on the consideration of the review reports of other auditors referred to in paragraph 5above, nothing has come to our attention that causes us to believe that the accompanyingStatement, prepared in accordance with recognition and measurement principles laid down inthe aforesaid Indian Accounting Standards (‘lnd AS’) specified under Section 133 of theCompanies Act, 2013, as amended, read with relevant rules issued thereunder and otheraccounting principles generally accepted in lndia, has not disclosed the information required tobe disclosed in terms of the Listing Regulations, including the manner in which it is to bedisclosed, or that it contains any material misstatement.

ForSRBC&CO LLP

Chartered Accountants

lCAl Firm registration number: 324982E/E300003

'\ 7 r

per Pramod Kumar Bapna

Partner

Membership No.2105497

UD'NI U‘WSHQ 7 A A AA/,( {S 3.31 L3:

Place: Mumbai

Date: January 31,2020

Page 2 of3

Page 3

5 53.”? 35? 3” 353 HT} M3”Chartered Acwuntants

Future Consumer Limited

Limited Review Report on Consolidated Financial Results

Annexure 1

List of Subsidiaries

1)2)3)4)5)6)7)8)9)10)11)12)13)14)15)16)

Aadhaar Wholesale Trading and Distribution Limited

Bloom Foods and Beverages Private Limited

The Nilgiri Dairy Farm Private Limited

Appu Nutritions Private Limited

Nilgiri's Mechanised Bakery Private Limited

Nilgiris Franchise Limited

Integrated Food Park Limited

Affluence Food Processors Private Limited

FCL Tradevest Private Limited

Future Food and Products Limited

Future Consumer Products Limited

Future Food Processing Limited

FCEL Overseas FZCO

FCEL Food Processors Limited

Genoa Rice Mills Private Limited (w.e.f September 30,2019)

Delect Spices and Herbs Private Limited (w.e.f July 18,2019)

List of Joint Venture

1)2)3)4)5)6)7)8)9)

Fontera Future Dairy Private Limited

Sublime Foods Limited

MNS Foods Limited

Avante Snacks Foods Private Limited

Aussee Oats India Limited _

Aussee Oats Milling (Private) Limited

Mibelle Future Consumer Products AG

Hain Future Natural Products Private Limited

Mibelle India Consumer Products Private Limited

10) Genoa Rice Mills Private Limited (upto September 30, 2019)

List of Associate

1) Sarjena Foods Private Limited

Page 3 of 3

Page 4

Future

ConsumerLimited

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Off.

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ENTOFCONSOLIDATEDFINANCIALRESULTSFORTHEQUARTERANDNINEMONTHS[ENDEDDECEMBER

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December

31,2019

September30

,2019

December

31,2018

December

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December

31,2018

March

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(Unaudited)

(Unaudited)

(Unaudited)

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(Audited)

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11 12 13 14

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92,963.47

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5,570.77

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Page 5

Notes:

1TheGroup

isen

gage

din

thebusiness

ofBrdndlng,Manufacturing,

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essi

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llin

gand

[71str1butionof

”ConsumerProducts"which

constitutesdsing

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Resultingimpart

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PARTICULARS

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31,2019

September30,2019

December

31,2018

December

31,2019

Decemher

31,2018

March

31,20

1‘)

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

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67,529.88

87,799.78

75,535.58

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,And

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BSE

(www

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eind

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on\)

andNSE

(vvw

w.ns

eind

ia.c

mn).

Plac

e:Mumbai

Date:

anuzlry31

,2020

Corp

orat

eId

enti

tyNumber

ofFuture

ConsumerLim11ed

isL5

2602

1\1H

199(

7PLC

1920

90

ByOrderof

theBoar

d

ForFuture

ConsumerLimited

AshniBiydni

Managing

Director

SIGNEDFOR

llJENTlFlCATION

BY

30

SR

BC&COLLP

MUMBAI