NAVINFLUOR2020-04-012020-06-30in-bse-fin:OneOperatingExpenses01Member NAVINFLUOR2020-04-012020-06-30in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member NAVINFLUOR2020-04-012020-06-30in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares NAVINFLUOR 2020-04-01 2021-03-31 2020-07-17 INR Lakhs First quarter Single segment Chemicals 2020-04-01 2020-06-30 Unaudited Consolidated 2149490000.00 361812000.00 2511302000.00 830520000.00 40712000.00 38727000.00 346373000.00 3263000.00 107126000.00 354914000.00 1721635000.00 789667000.00 0.00 789667000.00 259943000.00 78000.00 260021000.00 0.00 529646000.00 0.00 0.00 0.00 30609000.00 560255000.00 -4165000.00 556090000.00 560255000.00 0.00 556090000.00 0.00 98954000.00 2 11.32 11.31 0.00 0.00 11.32 11.31 1.The results of the quarter ended 30th June, 2020 were reviewed by the Audit Committee and approved by the Board of Directors of the Holding Company, at its meeting held on 29th July, 2020. n n2.In the consolidated results, the figures for the quarter ended 31st March, 2020 are balancing figures between the audited figures in respect of the full financial year and the published year to date figures for the nine month period ended 31st December, 2019. n n3.The consolidated results include the financial results of three foreign subsidiaries – Manchester Organics Limited, NFIL (UK) Limited and Navin Fluorine (Shanghai) Co. Limited, a step-down foreign subsidiary – NFIL USA Inc., a 100% subsidiary of NFIL (UK) Ltd., two Indian subsidiaries – Sulakshana Securities Limited and Navin Fluorine Advanced Sciences Limited (w.e.f. 6th February, 2020) and two joint venture companies – Swarnim Gujarat Fluorspar Private Limited and Convergence Chemicals Private Limited. n n4.The Company had temporarily suspended manufacturing operations at its facilities in the last week of March 2020 due to the nationwide lockdown to contain the spread of COVID-19 which had impacted Company’s operations. It restarted its operations from 14th April, 2020 in a phased manner. n nThe Company has carried out a detailed assessment of the impact of COVID-19 on its liquidity position and on the recoverability and carrying values of its assets and has concluded that there is no significant impact on account of the same on its financial results as at 30th June 2020. The Company believes that, in the preparation of the consolidated financial results, it has taken into account all known events arising from COVID-19 pandemic. However, the Company will continue to monitor any material changes to future economic conditions. n n5.The Company had contested receipts on account of Certified Emission Reduction (CER) as capital receipts not chargeable to tax from financial year 2007-08 to financial year 2012-13. During the year ended 31st March 2020, it received favourable appellate orders for some of the aforesaid years. This has resulted in the Company becoming liable to tax on its book profits for these years under section 115JB of the Income Tax Act, 1961 (the Act) [i.e. Minimum Alternate Tax (MAT)] and correspondingly eligible for MAT Credit in terms of section 115JAA of the Act, to be utilised against the tax liability of the succeeding years. Though the matter is contested by the tax authorities, considering the favourable pronouncements from various Tribunals/ High Courts in similar matters, including jurisdictional High Court and as legally advised, no outflow for the same is expected. n nAccordingly, as at 31st March 2020, the Company had recognized MAT Credit entitlement of Rs. 7,355.19 lakhs under section 115JAA of the Act, for which claims have been made. The Company had recomputed the tax liabilities for these years and written back excess tax provisions amounting to Rs. 14,125.37 lakhs for earlier years. n n6.Other Income for the quarter ended 30th June, 2020 includes interest of Rs. 2,617.66 lakhs received on refund of income tax (corresponding quarter – Nil). n n7.The Group has identified Chemicals business as its only primary reportable segment in accordance with the requirements of Ind AS 108, ‘Operating Segments'. Accordingly, no separate segment information has been provided. n n8.Previous period’s figures have been regrouped, wherever necessary, to correspond to those of the current period. Other Expenses 354914000.00