August 03, 2019

To Manager (CRD) Bombay Stock Exchange Ltd. (BSE) P.J. Towers, Dalal Street Mumbai 400 001

Manager (CRD) NatJonal Stock Exchange of India Ltd. (NSE) Exchange Plaza, Sandra Kurla Complex Sandra (E), Mumbai - 400051

Ref: Script Code- 516064 Script Code- ARROWGREEN

Sub: Outcome of the Board Meetings held on August 03, 2019 and Submission of Unaudited Financial Results (Standalone and Consolidated) for the Quarter ended 30u,June ²⁰¹⁹ as per SEBI (LODR) Regulations, 2015

Dear Sir,

Wrth reference to above, we hereby submiV inform thal

• 1, The Board of Directors at lts Meeting heJd today I.e. on August 03, 2019 at 11 30 AM and concluded at ¹ 50 PM, has approved the Unaudited Financial Results (Standalone & Consolidated) with Limited Review Report for the Quarter ended 30111June 2019. Copy of the same rs enclosed herewith
• 2 Date of Book Closure for the purpose of payment of dividend and Annual General Meeting of the Company:-

The Company has decided to close the register of members and transfer books from Wednesday, 4111 September ²⁰¹⁹ to Saturday, 71r1September ²⁰¹⁹ (both days inclusive) for determinfng the names of members eligible for the purpose of distribution of dividend on equity shares and Annual General meeting of the Company

3. Convene the Annual General Meeting of the Company:-

The Board has decided to convene the 27'hAnnual General Meeting of the Members on Saturday, i September 2019 at 10.30 a.m, at The Conference Hall Sohtaire Corporate Park, Guru Hargovindjl Marg, chakata, Andheri (East). Mumbai 400 093 or at such other venue as may be decided by the Board

This is for your information and records

Thanking you,

Yours faithfully

For Arrow Greentech Limited

??N A4M-/ Poonam Bansal Company Secretary

Notes

• The above results have been reviewed by the Audit Committee and taken on record in the meeting of Board of Directors $\overline{1}$ held on August 03, 2019 and also reviewed by Statutory Auditors.
• 2 This Statement has been prepared in accordance with the Companies ("Indian Accounting Standards") Rules, 2015 (IND AS) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
• During the quarter, Revenue from operations includes ₹ 25,224 thousands (quarter ended June 30, 2018 ₹ 25,911 $\overline{\mathbf{3}}$ thousands) for assigning of patents Marketing's Rights.
• The Company has adopted modified retrospective approach as per para C8 (c)(ii) of "IND AS 116 Leases" to its leases, $\sim$ effective from annual reporting period beginning April 01, 2019. This has resulted in recognizing a right of use assets (an amount equal to the lease liability, adjusted by the prepaid lease rent) of ₹ 1,555 thousands as at April 01, 2019. In the Statement of Profit and Loss for the current quarter, operating lease expenses has changed from rent to depreciation cost for the right of use assets and finance cost for interest accrued on lease liability,

To this extent, performance for the current quarter June 30, 2019 is not comparable with previous quarter results. Reconciliation for the above effect on Statement of Profit and Loss for the current quarter June 30, 2019 as follows:

the provisions of IND AS 116 and not on account of any cost on any borrowings.

• 5 The figures of the last quarter ended March 31, 2019 are the balancing figures between the audited figures in respect of full financial year and the published unaudited figures for the nine months ended December 31, 2018.
• Previous quarter / year figure are re-grouped, re-arranged, re-classified or re-worked wherever necessary to confirm to 6 the current quarter accounting treatment.

For and on behalf of Board Arrow Greentech Limited

Shilpan Patel Chairman and Managing Director DIN: 00341068 Place Mumbai Date August 3, 2019

TE GLYMOL

Notes

• The above results have been reviewed by the Audit Committee and taken on record in the meeting of Board of Directors held on August 03, 2019.
• The consolidated unaudited financial results relates to the Arrow Greentech Limited, the holding company, its subsidiary Arrow $2$ Green Technologies (UK) Limited, incorporated in UK, step down subsidiary Advance IP Technologies Limited (incorporated in UK), Arrow Secure Technology Private Limited, Avery Pharmaceuticals Private Limited and LQ Arrow Security Products (India) Private Limited (the holding company and its subsidiaries together referred to as 'the Group') and its associates SP Arrow Bio-polymers Private Limited and Sphere Bio Polymers (P) Limited. Butler & Company LLP, UK have reviewed financials results of UK subsidiary company including its step down subsidiary.
• 3 This Statement has been prepared in accordance with the Companies ("Indian Accounting Standards") Rules, 2015 (IND AS) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
• As per the requirements of IND AS 108 as notified under Companies (Indian Accounting Standards) Rules 2015 as specified under Section 133 of the Companies Act, 2013 no disclosure is required as the business activity of the Group and Associate Companies falls within a single primary business segment of manufacturing Water Soluble Film.
• The Group has adopted modified retrospective approach as per para C8 (c)(ii) of "IND AS 116 Leases" to Its leases, effective from $5$ annual reporting period beginning April 01, 2019. This has resulted in recognizing a right of use assets (an amount equal to the lease liability, adjusted by the prepaid lease rent) of ₹ 1,555 as at April 01, 2019. In the Statement of Profit and Loss for the current quarter, operating lease expenses has changed from rent to depreciation cost for the right of use assets and finance cost for interest accrued on lease liability.

To this extent, performance for the current quarter June 30, 2019 is not comparable with previous quarter results. Reconciliation for the above effect on Statement of Profit and Loss for the current quarter June 30, 2019 as follows:

Finance Costs is accounted pursuant to compliance with the provisions of IND AS 116 and not on account of any cost on any borrowings.

• The figures of the last quarter ended March 31, 2019 are the balancing figures between the audited figures in respect of full ó financial year ended March 31, 2019 and the published unaudited figures for the nine months ended December 31, 2018.
• Previous quarter / year figure are re-grouped, re-arranged, re-classified or re-worked wherever necessary to confirm to the $\overline{7}$ current quarter accounting treatment.

For and on behalf of Board Arrow Greentech Limited

Shilpan Patel Chairman and Managing Director DIN : 00341068 Place Mumbal Date August 3, 2019

I s CO. LLP

Independent Auditor's Review Report on quarterly Unaudited Standalone Financial Results of Arrow Greentech limited pursuant to the Regulation ³³ of SEBI (Listing Oblfgations and Disclosures Requirements) Regu latlons, 2015

To the Board of Directors Arrow Greentech Limited

• ¹ . We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of Arrow Greentech Limited ("the Company") for the quarter ended June 30, ²⁰¹⁹ ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation ³³ of the SEBI (listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with recognition and measurement principles laid down in Indian Accounting Standard ³⁴ "Interim Financial Reporting" as prescribed under Section ¹³³ of Companies Act, ²⁰¹³ read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to issue ^a report on the Statement based on our review.
• 1. We conducted our review of the Statement 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. Thfs 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 the Company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. Wt! have not performed an audit and accordingly, we do not express an audit opinion.

HARIB Tl s CO. LLP

1. Based on our review conducted and procedures performed as stated in paragraph ³ above, nothing has come to our attention that causes us to belfeve that the accordance with the accompanying Statement, prepared in recognftion and measurement Accounting Standard principles !afd down fn the aforesaid Indian and other accounling principles information generally accepted fn India, has not disdosed the required to be disctosed In terms of Regulation ³³ of the SE81 Disclosure Requirements) (Listing Obligations and Regulations, 2015, as amended, disclosed, or that it including the manner in which it is to be contains any material misstatement.

for Haribhaktf ^a Co. LLP Chartered Accountants ICAI Firm Registration No.103523W/W100048

Partner MembershipNo.: 048539 UDIN:19048539AAAAAP4083

Mumbai August 03, 2019

I & CO. LLP

Independent Auditor's Review Report on quarterly Unaudited Consolidated Financial Results of Arrow Greentech Limited pursuant to the Regulation 33 of SEBI (Ustfng Obligations and Disclosures Regufrements) Regulations, 2015

To The Board of Directors Arrow Greentech Limited

• 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Arrow Greentech Umtted ("the Parent") and Its subsidiaries (the Parent and its subsidfanes together ref erred to as "the Group"), and its share of the net loss after tax and total comprehensive loss of its associates for the quarter ended June 30, 2019 ("the Statement"), being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. 2015, as amended.
• 1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "lntenm Financial Reporting" as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting prtndptes generally accepted In India. Our responsibility Is to issue ^a report on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor or the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtam moderate assurance as to whether the Statement is free of material misstatement. ^A review is limited primarily to inquiries of the personnel and analyttcal procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

We also performed procedures In accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regul-ations, 2015, as amended, to the extent applicable.

C.:iartered Ac1,,; unreru ^{I s} CO. LLP

HARIB A

1. The Statement includes the IND AS results of the following entities:

2. 1. Based on our rev1ew conducted and procedures performed as stated in paragraph ³ above, and based on the consideration of the review reports of the other auditor referred to in paragraphs ⁶ below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation ³³ of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
3. b. We did not review the interim financial results of two subsidiaries (including one step down subsidiary) Included In the unaudited consolidated financial results, whose interim financial results reflect total revenues of Rs. 4,603 thousand, total net loss after tax of Rs. 17,078 thousand and total comprehensive loss of Rs. 17,078 thousand, for the quarter ended June JO, 2019, as considered fn the unaudited consolidated financial results. These Interim financial results have been reviewed by other auditors whose reports have been furnished to us by the Management and our report on the Statement, in so far as it relates to the amounts and disclosures Included In respect of these subs1diaries, is based solely on the reports of the other auditor and the procedures performed by us as stated in paragraph ³ above.

The above mentioned subsidiaries (including one step down subsidiary) are located outside India whose financial results have been prepared in accordance Wilh accounting principles generally accepted in their respective countries and which have been reviewed by other auditor under generally accepted

,.r HARIBHAKTI ^s CO. LLP

Cl artered Accountants

auditing standards applicable in their respective countries. The Parent's Management has converted the financial results of such subsidiaries located outside India from accounting prtncfples generally accepted in their respective countries to accounting principles generally accepted In India. We have reviewed these conversion adjustments made by the Parent's Management. Our report fn so far as it relates to the balances and affairs of such subsidiaries located outside India ls based on the report of other auditor and the conversion adjustments prepared by the Management of the Parent and reviewed by us.

Our report on the Statement is not modified in respect of the above matter.

7, The unaudited consolidated financial results includes the interim financial results of three subsidiaries which have not been reviewed by their auditors, whose interim financial results reflect total revenue of Rs. nil, total net loss after tax of Rs. 1,805 thousand and total comprehensive loss of Rs. 1,805 thousand for the quarter ended June 30, 2019, as considered in the unaudited consolidated ftnancial results. The unaudited consolldated financial results also includes the Group's share of net loss after tax (including other comprehensive income) of Rs. nil for the quarter ended June 30, 2019, as considered in the unaudited consolidated financial results, in respect of lwo associates, based on their interim financial results which have not been reviewed by their auditor. According to the Information and explanations given to us by the Management,these Interim financial results are not material to the Group Including its associates.

Our report on the Statement is not modified fn respect of the above matter.

For Haribhakti &. Co. LLP Chartered Accountants ICAI Finn Registration No.103523W/W100048

??L Snehal Sh?

Partner Membership No.: 048539 UOIN: 19048539AAAAAQ2458

Mumbai August 03, 2019