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BSR & Associates LLP Chartered Accountants Salarpuriya Knowledge City , Orwell , B Wing , 6th Floor , Unit - 3 , Sy No. 83/1 , Plot No. 02 , Raidurg , Hyderabad - 500 081 - India Telephone : Fax : +91 40 7182 2000 +91 40 7182 2399 Limited review report on unaudited quarterly standalone financial results and standalone year - to - date results under Regulation 33 of the Listing Regulations . To Board of Directors of Granules India Limited 1. We have reviewed the accompanying Statement of unaudited standalone financial results of Granules India Limited ( ' the Company ) for the quarter ended 31 December 2020 and year to date results for the period from 01 April 2020 to 31 December 2020 ( " the Statement " ) . 2. This Statement , which is the responsibility of the Company's management and approved by the 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 accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations . Our responsibility is to issue a report on the Statement based on our review . 3. 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 Statement is 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 . 4. Based on our review conducted as above , nothing has come to our attention that causes us to believe that the accompanying Statement , prepared in accordance with applicable accounting standards and other recognised 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 BSR & Associates LLP Chartered Accountants ICAI Firm Registration No .: 116231W / W - 100024 SRIRAM Digitally signed by SRIRAM MAHALINGAM MAHALINGAM Date : 2021.01.28 10:19:05 + 05'30 ' Sriram Mahalingam Partner Membership No .: 049642 UDIN : 21049642AAAAAD2053 Place : Hyderabad Date : 28 January 2021 BSR & Associates ( a partnership firm with Registration No. BA69226 ) converted into B S R & Associates LLP ( a Limited Liability Partnership with LLP Registration No. AAB - 8182 ) with effect from October 14 , 2013 Principal Office : 14th Floor , Central B Wing and North C Wing , Nesco IT Park 4 , Nesco Center , Western Express Highway , Goregaon ( East ) , Mumbai - 400063