Cosmo First Limited — Earnings Release 2019

May 15, 2019

CFL/SEC/SE/PS/2019-20/MAY/02 Date: May 15, 2019

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Sub: Audited Financial Results and Outcome of Board Meetins

Dear Sir,

Pursuant to Regulation 30 & 33 ofSEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that the Board of Directors of the Company at its meeting held today i.e. 15 May, 2019, has inter alia approved the following:

1. Audited Financial Results of the Company for the Quarter and Year ended as on 31 March, 2019 The Financial Results were duly reviewed by the Audit Committee and thereafter approved by the Board of Directors of the Company.

The above Financial Results are enclosed herewith along with a declaration on Auditor's Report with unmodified opinion.

1. Recommendation affinal dividend (F.Y 2018-19) on the Equity Shares of the Company @ 60% i.e. Rs. 61- per equity share. The dividend on Equity Share, shall be paid within 30 (thirty) days from the Conclusion of the ensuing Annual General Meeting, the date of which will be intimated in due course.

Subject to the approval of the Shareholders at the ensuing Annual General Meeting, the Board has further approved:

a) Re-appointment of Mr. Anil Kumar Jain (DDsf: 00027911 ) as Whole time Director of the Company w.e.f 1 October, 2019, for a term of 5 years.

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b) Re-appointment of Mr. Har Kishanlal Agrawal (DIN: 00260592 ) as Independent Director of the Company w.e.f. the date of ensuing AGM, for a second term of 5 years.

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c) Re-appointment of Mr. Hoshang Noshirwan Sinor (DFN: 00074905) as Independent Director of the Company w.e.f. 22nd May, 2020, for a second term of 5 years.

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d) Change in classification of Ms. Alpana Parida Shah (DW: 06796621), Non-Executive Non-Independent Director as Non-executive Independent Director of the Company, w.e.f. 15th May,2019, fora term of 5 years.

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e) Change in classification of Mr. Rajeev Gup ta (DFN: 00241501) from Non-Executive Independent Director to Non-Executive Non-independent Director of the Company w.e.f. 15th May, 2019.

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f) Change in classification of Mr. Pratip Chaudhuri (DIN: 00915201) from Non-Executive Independent Director to Non-Executive Non-independent Director of the Company w.e.f. 15'h May, 2019.

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None of the above Director is debarred from holding the office of Director by virtue of any SEBI order or any other such authority.

End of Tenure

In terms of Shareholders approval, the five year term of Mr. Ashish Kumar Guha (DFN: 00004364) as an Independent Director of the Company will end at the date of ensuing AGM. He has expressed his unwillingness to continue for the second temi due to his increased commitments. Hence, the tenure of Mr. Ashish Guha, Director of the Company shall come to end w.e.f. the date of ensuing AGM.

The Meeting commenced at 02:00 P.M. and concluded at^l^OP.M.

You are requested to take the same on your records.

Thanking You

Yours faithfully Fo^Cosmo Films Limited

Jyo't Corn ly Secretary & Compliance Officer y

Enclosure: as above

Walker Chandiok^Co LLP

Walker ChandiokS Co LLP (Formerly Walker, Chandiok & Co) L-41 Connaught Circus New Delhi 110001 India

T+91 1142787070 F+91 1142787071

Independent Auditor's Report on Standalone Financial Results of Cosmo Films Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To the Board of Directors of Cosmo Films Limited

• 1. We have audited the standalone financial results of Cosmo Films Limited ('the Company') for the year ended 31 March 2019, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Attention is drawn to Note 1 to the standalone financial results which states that the figures for the quarter ended 31 March 2019 as reported in these standalone financial results, are the balancing figures between audited standalone figures in respect of the full financial year and the published standalone year to date figures up to the end of the third quarter of the financial year. Also, the figures up to the end of the third quarter had only been reviewed and not subjected to audit. These standalone financial results are based on the standalone financial statements for the year ended 31 March 2019 prepared in accordance with the accounting principles generally accepted in India, including Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 ('the Act') and published standalone year to date figures up to the end of the third quarter of the financial year prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, Interim Financial Reporting, specified under Section 133 of the Act, and SEBI Circulars CIR/CFD/CMD/15/2015 dated 30 November 2015 and CIR/CFD/FAC/62/2016 dated 5 July 2016, which are the responsibility of the Company's management. Our responsibility is to express an opinion on these standalone financial results based on our audit of the standalone financial statements for the year ended 31 March 2019 and our review of standalone financial results for the nine months period ended 31 December 2018.
• 1. We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial results are free of material misstatements. An audit includes examining, on a test basis, evidence supporting the amounts disclosed as financial results. An audit also includes assessing the accounting principles 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 standalone financial results:
  • (i) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI dated 30 November 2015 and CIR/CFD/FAC/62/2016 dated rs 0 CIR/CFD/CMD/15/2015 iis regard; and

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