Parag Milk Foods : Disclosure of other UPSI/material event

May 26, 2022

Dear Sir / Madam,

Sub: Disclosure of Reasons for Delay in Submission of Financial Results (Both

Standalone and Consolidated) for the Quarter and the Financial Year Ended March 31, 2022 under Regulation 33 of The SEBI (LODR) Regulations, 2015 by Parag Milk Foods Limited ("The Company")

Ref: SEBI Circular No. CIR/CFD/CMD-1/142/2018dated November 19, 2018

This is to bring to your kind notice that the as per the SEBI (LODR) Regulations, under Regulation 33, the company is required to submit to the stock exchanges its annual audited standalone and consolidated financial results along with the audit report for the financial year ended March 31, 2022 within sixty days of the end of the financial year i.e. May 30, 2022.

However, in terms of above cited SEBI Circular No. CIR/CFD/CMD-1/142/2018 dated November 19, 2018, the Company would like to intimate that, due to the reasons as mentioned hereinunder the company shall not be able to submit the Audited Financial Results (both Standalone and Consolidated) for the quarter and financial year ended 31st March, 2022 within the prescribed time period i.e. on or before 30th May, 2022.

1. During the Financial Year 2021-22, the Chief Financial Officer (CFO) and Key Managerial Personnel of the company has resigned w.e.f. December 30, 2021.
2. The Company has been in the process of appointing a suitable person as the Chief Financial officer (CFO) of the Company. Due to the vacancy in the position of CFO caused by the resignation there has been a delay in completing the audit and preparation of the financials for the quarter and financial year ended 31st March, 2022 due to unavoidable circumstances.
3. In view of the above situation we would like to inform you that the Company's standalone and consolidated financial results for the year ended 31st March, 2022 will be approved beyond 30th May, 2022 and that Company will endeavor to get the same approved at the earliest.

We request you to kindly note that we have always adhered to the statutory timelines in the past.

Further , in this connection and in continuation of our letter dated March 28 ,2022, the Trading Window for dealing in the equity shares of the Company had been closed from April 01, 2022 and will continue to remain closed till 48 hours after the date of declaration of audited financial results for the quarter and year ended March 31, 2022, pursuant to the Company's Policy for Prevention of Insider Trading formulated to regulate and report trading by insiders pursuant to the SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended

The date of the Board Meeting for the aforesaid purpose shall be intimated separately.

Thanking you.

Yours Faithfully,

For Parag Milk Foods Limited

Rachana Sanganeria

Company Secretary and Compliance Officer

ACS No. 10280