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B&A/KOL/DDC/208 25th May 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 the Board of Directors in its meeting held on 25th May 2023 has approved the Standalone and Consolidated financial results of the Company for the quarter ended 31st March 2023 and audited Standalone and Consolidated financial results of the Company for the financial year ended 31st March 2023 and Statement of Assets and Liabilities as on that date.

(b) Also take note that the Board of Directors of the Company has recommended a final dividend of Re. 0.50 per equity share of face value Rs. 10/- each, fully paid up for the financial year ended 31st March 2023.

(c) Also take note that Mr. Bhramar Kumar Mahanta (DIN: 02705485) has resigned from the position of Non-Executive Director of the Company on conclusion of the meeting.

(d) Please find enclosed copy of the Financial Results as above, alongwith reports of the Auditors thereon and declaration from the company for their unmodified opinion under Regulation 33 of SEBI (LODR)Regulations,2015.

The meeting commenced at 2.30 PM and concluded at 4.25 PM.

Yours faithfully,

For B & A Limited DEBDIP CHOWDHU RY Digitally signed by DEBDIP CHOWDHURY Date: 2023.05.25 16:29:14 +05'30'

D. Chowdhury Company Secretary

Encl: As stated above

Gbosal, Basu & Ray

CIJartered Accountants

8/2 Kiron S(llikar Roy Road, 2nd floor, Room No. 28, Kol~ata 700 001 Telephone 2243 9185, Telefax 2210 1182, e-mail [email protected]

Independent Auditor's Report On Quarterly Financial Results and Year to Date Results of B & A Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

TO THE BOARD OF DIRECTORS OF B & A LIMITED

• 1. We have · audited the annual financial results ("Results") of B & A LTD ("the Company") for the year ended 31st March, 2023, and and reviewed the quarterly financial results for· th~ quarter ended 31st March, 2023, included in the Statement Of Financial· Results ("the Statement") attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• 1. The Results included in the Financial Statement are the responsibility of the Company's management. Our responsibility is to express an opinion on the results based on our audit of such annual financial statements, which have been prepared in accordance with the recognition and measurement principles laid down ~n Indian Accounting Standards prescribed under section 133 of the Companies Act, 2013, read with relevant rules issued thereunder or by the Institute of Chartered Accountants of India, as applicable, other accounting principles generally accepted in India.
• 1. We conducted our audit·in accordance with the Standards of Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the Results included in the Statement are free of 'material misstatement. An audit includes examining, on a test basis, evidence supporting the amount disclosed as the financial results. An audit also includes assessing the accounting policies used and significant estimates made by management. We believe that our audit provides a reasonable basis for our opinion.
• 1. In our . opinion and to the best of our information and according to the explanations given to us, the Results:

• (i) are presented in accordance with the requirements of Regulation 33 of the Se~urities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, in this regard, and
• (ii) give a true and fair view of the net profit and other financial information for the year ended 31st March, 2023.
• 1. The Results for the last quarter ended 31st March, 2023, and the corresponding quarter ended of the previous year, included in the Statement, being the balancing figure between audited figures in respect of the full financial year and the published year-to-date figures up to the third quarter of the relevant financial year, were subject to limited review by us.

For Ghosal, Basu & Ray Chartered Accountants

Partner (Membership No. 052204) UDIN: 23052204BGUWVQ5131

Kolkata, Dated: 25th May, 2023

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

AUDITED STANDALONE FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH, 2023

Notes:-

• 1) The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on 25th May, 2023.
• 2) These results have been prepared in accordance with Indian Accounting Standards (Ind ASs) notified by the Companies (Indian Accounting Standards) Rules, 2015 as amended and as prescribed under Section 133 of the Companies Act, 2013.
• 3) The Company has only one business segment of manufacture and sale of black tea.
• 4) 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.
• 5) The fig~res of the last quarter for the current year and for the previous year are the balancing figures between the audited figures in respect of the full financial year ended 31st March and unaudited published year-to-date figures up to the third quarter ended 3pt December.
• · 6) Exceptional items represent land compensation received (net) from Indradhanush Gas Grid Limited, a public sector undertaking, for compulsory acquisition under the Petroleum and Mineral Pipeline (Acquisition of Right of User in Land) Act, 1962 of the Right of User and Right of Way, of estates' land for the laying of gas pipe line.
• 7) The Company has purchased a policy under the group gratuity scheme of Life Insurance Corporation of India and has made contributions to it to fund its gratuity obligations. The policy has been taken out and the contributions made in the name of B &A Limited Employees' Gratuity Fund, a trust settled by the Company.
• 8) The Board of Directors has recommended a dividend of Re. 0.50 per equity share of Rs. 10/ each, fully paid up, for the financial year 2022-23.

In terms of our report of even date for Ghosal, Basu & Ray Chartered Accountants

Memb. No. 05·2204 Date:- 25th May, 2023 Place:- Kolkata

for B & A Limited ...

(

@

Somnath Chatterjee Managing Director DIN : 00172364

Ghosal, Basu & Ray

Chartered Accountants

8/2 Kiron Sankar Roy Road, 2nd floor, Room No. 28, Ko/kata 700 001 Telephone 2243 9/85, Telefax 2210 1182, e-mail [email protected]

Independent Auditor's Report on Consolidated Quarterly and Annual Financial Results of B & A Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligatio)J.s and Disclosure Requirements) Regulations, 2015

TO THE BOARD OF DIRECTORS OF B & A LIMITED

• 1. We hav.e audited the accompanying Statement of Consolidated Financial Results of B & A LTD ("the holding Company") and its subsidiary (collectively referred to as "the Group") for the year ended 31st March, 2023 and reviewed the consolidated financial results for the quarter ended 31st March, 2023, included in the Statement of Consolidated Financial Results ("the Statement") attached herewith, being submitted by the holding Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the holding Company's management and approyed by its Board of Directors, has been compiled from the related consolidated financial statements, which have been prepared in accordance with the Indian Accounting Standards prescribed under Section 133 of the Companies Act, 2013, read with the Companies (Indian Accounting Stand_~rds) Rules, 2015, as amended ("Ind ASs"), and other accounting principles generally accepted in India. Our responsibility is to express an opinion on the Statement based on our audit of such consolidated financial statements.
• 1. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Companies Act, 2013. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the Statement is free of material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the Statement. The procedures selected depend on the auditors' judgement, including the assessment of the risks of material misstatement of the Statement, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the holding Company's preparation and fair presentation of the Statement in order __ tQ design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the holding Company's internal financial control with reference to the Statement. An audit also includes evaluating the appropriateness of the accounting policies used and the

reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the Statement. 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. We believe that the audit evidence obtained ·by us is sufficient and appropriate to provide a basis for our audit opinion.

• 1. The Group referred t6 in._the Statement includes the results of B & A Packaging India Limited (the subsidiary)
• 1. In our opinion and to the best of our information and according to the explar1.~tions given to us, the Statement:
• (i) is presented in accordance with the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, in this regard, and
• (ii) gives a true and fair view of the consolidated total comprehensive income (comprising of net profit/loss and other comprehensive income) and other financial information of the Group for the year ended 31st March, 2023 in conformity with the recognition and measurement principles laid down in the aforesaid Ind ASs and other accounting principles generally accepted in India.
• · 6. The Statement includes the results for the last quarter ended 31st March, 2023, and the corresponding quarter ended of the previous year, being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the relevant financial year, which were subject to limited review by us.

For Ghosal, Basu & Ray Chartered Accountants

(Membership No. 052204) UDIN: 23052204BGUWVR4551

Kolkata, Dated: 25th May, 2023

..

.•

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

AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH, 2023

:.

Statement of Consolidated Assets and Liabilities as on 31st March, 2023

B & A Limited ® Regd. Office : Indu Bhawan. Mahatma Gandhi Road. J orhat - 785 001 CIN : L01132AS1915PLC000200. Email : [email protected]. Website : www.barooahs.com

SEGMENT-WISE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2023

;

(Contd.)

Notes:-

• 1) The above consolidated financial 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 meetings held on 25th May, 2023.
• 2) These results have been prepared in accordance with Indian Accounting Standards (Ind ASs) notified 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 Companies taking into consideration relevant adjustments.
• 3) Value of _green leaf produc;ed _in the Group's own tea estates is not ascertainable. Cost of materials consumed by the parent company represents only cost of green leaf purchased from others.
• 4) Operating segments have been identified as Tea and Packaging taking into consideration the requirements of Ind AS 108, "Operating Segments".
• 5) The figures of the last quarter for the current year and for previous year are the balancing figures between the audited figures in respect of the full financial year ended 3pt March and unaudited published year-to-date figures up to the 3rd quarter ended 31st December.
• 6) Exceptional items represent land compensation received (net) by the parent company from Indradha_nush Gas Grid Limited, a public sector undertaking, for compulsory acquisition under the Petroleum and Mineral Pipeline {Acquisition of Right of User in Land) Act, 1962 of the Right of User and Right of Way, of estates' land for the laying of gas pipe line.
• 7) The Par~nt Company has _purchased a policy under the group gratuity scheme of Life Insurance Corporation of India and has made contributions to it to fund its gratuity obligations. The policy has been taken out and the contributions made in the name of B &A Limited Employees' Gratuity Fund, a trust settled by the Company.
• 8) The Board of Directors of the Parent Company has recommended a dividend of Re. 0.50 per equity share of face value Rs. 10/- each, fully paid up, for the financial year 2022-23 , and that of the Subsidiary Company has recommended a dividend of Rs. 1.50 per equity share of face value Rs. 10/ each, fully paid up, for the same period.

In terms of our report of even date For Ghosal. Basu & Ray

Memb. No. 052204 Date:- 25th May, 2023 Place:- Kolkata

Managing Director DIN : 00172364

Corporate Office· 113 Park Street, 9th Floor Kolkata 700 016 ~hone 2265-7389,2229-5098.2217-6815.2227-2111 E ina1I [email protected], Website www.barooahs.com C N. L01132AS1915PLC000200

25th May 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: Declaration with respect to Audit Report with un-modified opinion

Pursuant to Regulation 33(3)(d) of the Securities & Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended, we do hereby confirm that the statutory auditors of the Company, M/s. Ghosal Basu & Ray, Chartered Accountants have not expressed any modified opinion(s) in their Audit Reports pertaining to the standalone and consolidated audited fi nancial results of the Company for the financial year ended on 31'1 March 2023 .

Yours faithfully, For B & A limited Tapa Chie Fina