B &A Limited

Corporate Office 113 Park Street 9th Floor, Kolkata -700 o 16 Phare 2265-7389. 2229 5098. 2217-6815 2227-2131 E-rr1ail : contact'@barooahs.in, Webs,te. www.barooahs.com CIN L01132AS'915PLC000200

B&A/KOL/DDC/333

12th August 2023

To,

The General Manager, Department of Corporate Affairs BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001

Dear Sir,

Scrip Code No. 508136

Sub: Outcome of Board Meeting

(a) Please take note that pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the Board of Directors in its meeting held on Saturday, 12th August 2023 at the corporate office of the Company at 113, Park Street, 9th Floor, Kolkata - 700016 has approved the Un-audited Standalone and Consolidated Financial Results of the Company for the quarter ended 30th June 2023 along with limited review report.

A copy of Un-audited Standalone and Consolidated Financial Results of the Company for the quarter ended 30th June 2023 along with limited review report is enclosed.

(b) Appointment of Mr. Dhruba Jyoti Dowerah (DIN: 07432518) as a Whole-time Director-Based on the recommendation of the Nomination and Remuneration Committee and subject to the approval of shareholders in general meeting, Mr. Dhruba Jyoti Dowerah (DIN: 07432518) has been appointed as a Whole-time Director of the Company for a period of three years with effect from 12th August 2023 to 11th August 2026.

Brief Profile:

Mr. Dhruba Jyoti Dowerah born on ist December 1968 holds a bachelor's degree in Agriculture and has been associated with the Company for over 30 years. He has worked in several capacities in the Company like General Manager, Visiting Agent and later on promoted as President- Tea Division. Mr. Dowerah is in-charge of the gardens and factory operations of the Company and is instrumental and driving force for the market leadership of the Tea Estates of the Company.

Mr. Dowerah is not related to any Director of the Company and is not debarred from holding the office of Director by virtue of any order of the Securities and Exchange Board of India or any other Statutory Authority.

The meeting commenced at 03.45 PM and concluded at 05.45 PM.

You are requested to kindly take the above information on record.

Yours faithfully, Company Secretary

Encl : As stated above

Ghosal, Basu 8 Ray

Chartered Accountants

8/2 Kiron Sankar Roy Road, 2nd Floor, Room No. 28, Kolkata 700001 Telephones 98300 44934, 93317 92155, e-mail [email protected]

Independent Auditors' Limited Review Report on the Quarterly Unaudited Standalone Financial Results of B & A Limited Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

REVIEW REPORT TO THE BOARD OF DIRECTORS OF ,~ B & A LIMITED

We have reviewed the accompanying statement of unaudited standalone financial results of B & A Limited ("the Company") for the quarter ended 30 June, 2023.This statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on these financial statements based on our review.

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 financial statements are 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.

Based on our review conducted as above, nothing has come to our attention that causes us to believe theft 'the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards and other recognized ·accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Ghosal, Basu & Ray · nts

-----,=¥:===lUpra m Ray

P. rtner (Membership No. 052204) UDIN 23052204BGUWWG9087

Kolkata, Dated:12th August, 2023 B & A Limited

Regd. Office : Indu Bhawan, Mahatma Gandhi Rood, Jorhat - 785 001 CIN : L01132AS1915PLC000200, Email : [email protected], Website : www.barooahs.com

STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2023

Contd ...

Notes:-

• 1) The above .financial results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on 12th August, 2023.
• 2) Stock of black tea as on· 30t~ June, 2023 has been valued at lower of cost, which is based on estimated cost of production and expenditure for the financial year ending 3pt March, 2024, and net realisable value. Production and expenditure not being uniform throughout the year, stock valuation will be unrealistic if it is based on actual production and expenditure up to 30th June, 2.023. The aforesaid method of valuation of stock is consistent with the accounting policy followed by the Company in earlier years for the purpose of publishing quarterly results. Valuation of stock of tea at the end of the financial year will be as per the applicable Indian Accounting Standard(s).
• 3) Value of green leaf produced in the Company's own tea estates is not ascertainable. Cost of materials consumed represents only cost of green leaf purchased from others.
• 4) The Company is engaged in the business of cultivation, production and sale of black tea which is .seasonal in nature, and as such, the above results for the quarter ended 30th June, 2023 are not indicative of the results for t_he full financial year.
• 5) Tax expense, including current tax and deferred tax, if any, is recognised at the end of the financial year.
• 6) Liability on account of defined benefit obligation has been provided on estitl'.lated basis. Actuarial valuation of defined benefit obligation will be made at the end of the financial year and actuarial gain/ loss, if any, will be recognised at that time.
• 7) Measurement of fair value of. investment in equity shares will be carried out at the end of the financial year, when the extent of impairment or enhancement, if any, will be ascertained.
• 8) The Company has only one business segment of manufacture and sale of black tea.

In terms of our report of even date For Ghosal, Basu Ray C

Memb. No. 052204 Date:- 12th August, 2023 Place:- Kolkata

For~

Somnath Chatterjee Managing Director (DIN : 00172364)

Ghosal, Basu a Ray

Chartered Accountants

' 8/2 Kiron Sankar Roy Road, 2nd Floor. Room No. 28, Kolkata 700001 Telephones 98300 44934, 93317 92155, e-mail [email protected]

Independent Auditor's Review Report on consolidated unaudited quarterly and year to date . financial results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations. and Disclosure Requirements) Regulations, 2015

TO THE BOARD OF DIRECTORS OF

B&ALIMITED

• 1. We have reviewed the accompanying Statement of Consolidated Unaudited Fi~ancial Results of B & A Limited ("the Parent") and its subsidiary (the Parent and its subsidiary together referred to as "the Group"), for the quarter ended 30th June, 2023 ("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. Attention is drawn to the fact that the consolidated figures for the quarter ended 31 March, 2023, as reported in these financial results, have been approved by the Parent's Board of Directors, but have not been subjected to review.
• 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 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other a_cc;ounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. 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. 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 d~ 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) Regulations, 2015, as amended, to the extent applicable.

• 1. The Statement includes the results of the subsidiary company, B & A Packaging (India) Limited
• 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 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.

6. Emphasis of Matter

Our conclusion is not modified in respect of this matter.

For Ghosal, Basu & Ray ts

Apr" rn Ray P rtner (Membership No. 052204) UDIN: 23052204BGUWWH2835

Kolkata, Dated: 12th August, 2023

B & A Limited

Regd. Office. : Indu Bhawan, Mahatma Gandhi Road , Jorhat - 785 001

CIN : L01132AS1915PLC000200, Email : [email protected], Website : www.barooahs.com

' STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2023

' B & A Limited ® Regd. Office : Indu Bhawan, Mahatma Gandhi Road , Jorhat - 785 001

c_IN : L01132AS1915PLC000200, Email : [email protected], Website : www.barooahs.com

SEGMENT-WISE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER ENDED 30TH JUNE, 2023

Contd.

Notes:-.

• 1) The above consolidated f inancial results of the Group (B & A Limited the Parent Company and B&A Packaging India Limited - the Subsidiary Company together referred to as "the Group") have been reviewed by the Audit Committee and approved by the Board of Directors of the Parent Company at their respective meetings held on 12th August, 2023.
• 2) These results have been prepared in accordance with Indian Accounting Standards (Ind ASs) n~tified by the Companies (Indian Accounting Standards) Rules, 2015 as amended, and as prescribed under Section 133 of the Companies Act, 2013. The Group has consolidated the financial statements of the Parent and Subsidiary Company taking into consideration relevant adjustments.
• 3) Stock of. black tea as on 30th June, 2023 has been valued at lower of cost, which is based on estimated cost of production and expenditure for the financial year ending 3pt March, 2024, and net real isable value. Production and expenditure not being uniform throughout the year, stock valuation .will be unrealistic if it is based on actual production and expenditure up to 30th June, 2023. The aforesqid method of valuation 9f stock is consistent with the:accounting policy followed by the Group in earlier years for the purpose'of publishing quarterly results. Valuation of stock of tea at the end of the financial year will be as per the applicable Indian Accounting Standard(s).
• 4) Value of green leaf produced in the Group's own tea estates is not ascertainable. However, cost of materic{ls ·consumed by the Parent company represents only cost of green leaf purchased from others.
• 5) Deferred tax, if any, is recognised at the end of the financial year. Current tax as appearing in this statement is in respect of the Subsidiary Company. The Parent Company is engaged in the business of cultivation, production and sale of black tea which is seasonal in nature and as such the results for the quarter ended 30th June, 2023 are not indicative of the results for the full financial year. For this reason, current tax will be recognised at the end of the financial year by the Parent Company.
• 6) Liabil ity on account of defined benefit obligation has been provided on estimated basis. Actuarial .valuation of defined benefit obligation will be made at the end of the financial year and actuarial gain ^Iloss, if.any, will be recognised at that t ime. . '
• 7) Measurement of fair value of inyest ment in equity shares will be carried out at the end of the financial year, when the extent of impairment or enhancement, if any, will be ascertained.
• 8) Operatfng segments have been identified as Tea. and Packaging taking into consideration the requirements of Ind AS 108, "Operating Segments".

In terms of our report of even date . For Ghosal. Bas Ray

Memb. No. 052204 Date:- 12th August, 2023 Place:- Kolkata