5433342022-04-012022-06-305433342022-04-012022-06-30in-bse-fin:OtherExpenses1Member5433342022-04-012022-06-30in-bse-fin:OtherExpenses2Member5433342022-04-012022-06-30in-bse-fin:OtherExpenses3Member5433342022-04-012022-06-30

ItemsThatWillNotBeReclassifiedToProfitAndLoss1

5433342022-04-012022-06-30

ItemsThatWillBeReclassifiedToProfitAndLoss1

iso4217:INRxbrli:pureiso4217:INRxbrli:shares

543334

NUVOCO

INE118D01016

Nuvoco Vistas Corporation Limited

Equity

2022-04-01

2023-03-31

2022-08-09

2022-08-01

INR

Crores

First quarter

Single segment

Manufacturing

2022-08-09

18:15:00

2022-08-09

19:30:00

Not applicable

2022-04-01

2022-06-30

Unaudited

Standalone

21216200000

342200000

21558400000

3783400000

2716500000

-1271900000

1204200000

798800000

1692600000

12398400000

21322000000

236400000

93200000

-13800000

79400000

157000000

1800000

158800000

3571600000

0.44

0.0041

0.0218

0.0928

1. These unaudited standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on August 9, 2022 2. (a) The above Statement has been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 ‘Interim Financial Reporting’, prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules thereunder and in terms of Regulation 33 and Regulation 52 read with Regulation 63(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 as amended. (b) The figures for three months ended March 31, 2022 are arrived at as difference between audited figures in respect of the full financial year and the unaudited published figures up to nine months ended for December 31, 2021. 3. During the previous year ended March 31, 2022, the Company had completed Initial Public Offer (IPO) and the details of utilisation of IPO proceeds are under: Object of the issue Total amount as per Total utilised up to Total utilised up to Balance unutilised prospectus March 31, 2022 June 30, 2022 Repayment, Prepayment, 1350.00 (1350.00) (1350.00) - Redemption of outstanding borrowings of the Company General corporate purposes 150.00 (146.30) (150.00) - Total 1500.00 (1496.30) (1500) - 4. In August 2016, the Competition Commission of India (CCI) passed an Order levying a penalty of Rs. 490.00 crores on the Company in connection with a complaint filed by the Builders Association of India against leading cement companies (including the Company) for alleged violation of certain provisions of the Competition Act, 2002. The Company had filed an appeal against the Order before the Competition Appellate Tribunal (COMPAT). The COMPAT had passed an interim order directing the Company to pre-deposit 10% of the penalty amount, and granted stay on the remaining 90% of the penalty amount subject to the condition that in case appeal is finally decided against the Company then Company shall be liable to pay interest @ 12% p.a on the said 90% penalty amount stayed pursuant to the interim order. The pre-deposit of 10% of the penalty amount was accordingly made pursuant to the orders of COMPAT. COMPAT was replaced by the National Company Law Appellate Tribunal (NCLAT) effective May 26, 2017, and NCLAT vide its judgment dated July 25, 2018, dismissed the Company’s appeal and upheld the CCI’s order. Against the above judgment of NCLAT, the Company appealed before the Hon’ble Supreme Court, and vide its order dated October 5, 2018, the Hon’ble Supreme Court admitted the appeal of the Company and directed continuation of the interim order as originally passed by the COMPAT. The Company under the Share Purchase Agreement (“SPA”) is indemnified by erstwhile promoter group for loss arising from claims/ demands in case penalty is upheld by Hon’ble Supreme Court. However, the erstwhile promoter has disputed their obligation towards indemnification of any amount including interest beyond the cap of Rs 490.00 crore. Hon’ble Delhi High Court vide its order dated Dec 6, 2021, preserved the liberty of the Company to invoke appropriate legal recourse in case such a need arises in future in the event of a dispute in relation to SPA to claim any consequential interest demand beyond the cap, subsequent to disposal of the pending appeal against CCI penalty demand before Hon’ble Supreme Court. Based on the reimbursable rights available with the Company duly backed by legal opinion, no provision against the CCI order of Rs 490.00 crore or interest thereon is considered necessary. 5. The Company availed Industrial Promotional Assistance for Mejia Cement Plant (MCP) from the Government of West Bengal under the West Bengal Incentive Scheme 2004 with effect from April 23, 2008. The outstanding claim balance as on June 30, 2022 is Rs 427.14 crore. The authorities disputed the claim of the Company, pursuant to which, the Company filed a writ petition against the Industry, Commerce & Enterprise Department, Government of West Bengal during the year 2017-18 in the Honourable High Court of Calcutta (High Court). The High Court passed an order on June 27, 2018 directing Principal Secretary of the State of West Bengal to re-consider the claim and contention lodged by the Company. The Additional Chief Secretary to the Government of West Bengal had rejected the Company’s claim for incentive vide order dated March 18, 2019, following which the Company has filed a writ petition against said Order in the High Court of Calcutta on July 25, 2019. The Company, based on advice of legal counsel, is confident of the ultimate recovery of the balance accrued till date and therefore no provision is considered necessary for outstanding claim amount. 6. The listed Non-convertible Debentures (NCDs) of the Company amounting to Rs 850.00 crores are secured by first ranking pari passu charge on the assets of the Company as provided in the respective Transaction documents of the non-convertible debentures and with cover of 125% and above as per the terms of issue. 7. The Code of Social Security 2020 (‘Code’) relating to employee benefits during employment and post-employment received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final rules/ interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period in which the Code becomes effective.

Power and fuel

5064200000

Freight and forwarding charges

4877800000

Other Expenses

2456400000

Remeasurement (loss)/ gain of post-employment benefit obligation

-11000000

-3900000

Net change in fair value of derivatives designatedas cash flow hedges

13700000

4800000