Cosmo First Limited — Interim / Quarterly Report 2019

Nov 12, 2018

CFL/SEC/SE/PS/2018-19/NOV/03 November 12, 2018

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Sub: Un-audited Financial Results and Limited Review Report for the quarter ended on September 30, 2018

Dear Sir,

Pursuant to Regulation 33 ofSEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, plesae find enclosed herewith Un-audited Standalone and Consolidated Financial Results of the Company for the Quarter ended on September 30, 2018 reviewed by the Audit Committee and approved by the Board of Directors at their meeting held today i.e. November 12, 2018 at 02:00 P.M. along with Limited Review Report thereon.

The Meeting of Board of Directors concluded at 3-55P-M.

You are requested to take the same on your records.

Thanking You

Yours faithfully For Cosmo Films Limited f

^ Jyoti Comp Secretary & Compliance Officer

End: 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 11 4278 7071

Independent Auditor's Review Report on Standalone Quarterly Financial Results and Year to Date Results ofCosmo Films Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To the Board of Directors ofCosmo Films Limited

• 1. We have reviewed the accompanying statement of unaudited standalone financial results ('Statement') of Cosmo Films Limited ('the Company') for the quarter ended 30 September 2018 and the year to date results for the period 1 April 2018 to 30 September 2018, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (listing Obligations and Disclosure Requirements) Regulations, 2015. 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 the Statement based on our review.
• 1. We conducted our review in accordance with the Standard on Review Engagement (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.

Walker Chandiok&CoLLP

Independent Auditor's Review Report on Standalone Quarterly Financial Results and Year to Date Results ofCosmo Films Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Cont'd)

^

1. 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 Indian Accounting Standards specified under Section 133 of the Companies Act, 2013 and SEBI Circulars CIR/CFD/CMD/15/2015 dated 30 November 2015 and CIR/CFD/FAC/62/2016 dated 5 July 2016, and other recognised accounting practices and policies has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (TJsting Obligations and Disclosure Requirements) Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No: 001076N/N500013

^^

Siddharth Talwar Partner Membership No. 512752

Place: New Delhi Date: 12 November 2018

COSMO FILMS LIMITED UNAUDITED STANDALONE FINANCIAL RESULTS

							(RinCr)sores
		3	thdemonsen	d	6thmon	dedsen	Yendedare
S.No	Partilacurs	30.09.2018	30.06.2018	30.09.2017	30.09.2018	30.09.2017	31.03.2018
		Reviedwe	Reviedwe	Reviedwe	Reviedwe	Reviedwe	Audited
	Income:
	a)Ree fion(gs)atvenuromoperros	5S516.	47581	441.54	992.40	880.73	1,779.07
	b)Other income	1.74	2.25	19.84	3.99	23.27	34.84
	Total income	518.33	478.06	461.38	996.39	904.00	1,813.91
	Expenses:
	Coa)stofterialsedmaconsum	390.16	374.48	313.86	764.64	608.45	1,2766.7
	b)Purchf tradeddsase ogoo			3.45		3.45	5.00
	c)Chf fs in itorieinishedodangenvens ogosd stock-in-tradane	2.78	(15.69)	4.86	(12.91)	5.57	6.59
	d)Eisedutyxc					30.46	30.46
	e)Emploe befit eyeenxpenses	222.7	21.93	23.30	44.65	44.00	869.7
	f)Deiationndrtisionatprecaamoexpenses	12.25	11.57	11.54	23.82	22.65	45.50
	g)Finastsnceco	14.76	15.46	14.87	30.21	26.12	50.12
	h)Allowfotededit lancer expeccrosses	0.39		0.33	0.39	0.51	0.75
	i) OthEerxpenses	61.63	55.85	59.09	117.48	114.32	226.47
	Total expenses	504.69	463.60	431.30	968.28	85535.	1,728.44
	Profit befo(1-11)taxre	13.64	14.46	30.08	28.11	48.47	85.47
IV	Taxexpense:
	a)Cnttaurrex	2.92	3.07	4.04	5.99	8.17	15.33
	b)Defed te/(credit)rreaxexpens	0.46	0.72	1.32	1.18	0.77	(1)4.75
	Inctaomexexpense	3.38	3.79	365.	177.	8.94	0.58
v	Net Profit fthiod(111.1V)ore per	10.26	10.66	24.72	20.94	.S393	84.89
V]	I Othheiveinercomprenscome
)a	i) Ithwill nbeclaified trofit or loteatotmsresso pss	0.14	0.13	0.22	0.27	0.43	0.54
	inclatedboe ttoomaxreave	(005)	(005)	(0.07)	(0.09)	(0.15)	(0^19)
)b	i) Ithwill blassifiedrofit or loteattomserecpss	(7.43)	8.57	(00).4	1.08	0.28	(5.08)
	inclatedboe ttoomaxreave	2.61	(29).9		(08).3		1.78
	To(lo)/(nx)tal othehsivincetoftaercomprenessome	(49).7	665.	(0.25)	0.88	O.S6	(2.95)
VII	I Tl cehsivince fthriod(V+VI)otaompreneomorepe	5.47	16.32	24.47	21.82	40.09	81.94
VIII	l (F)Paidityshitae ValuRs.10- up equare capace	19.44	19.44	13.44	19.44	19.44	19.44
IX	I Otheityr balaheetr equaspence s						617.64
x	I Eninhafoheiod(of R1C/-ch)r targper srepersea
	Knalised)otannu
	Basic	5.36	5.56	12.90	10.93	20.63	44.30
	Diluted	5.36	5.56	12.90	10.93	20.62	44.30

REPORTING OF SEGMENTWISE REVENUE, RESULTS AND CAPITAL EMPLOYED

Partilacurs	3	thdemonsen	d	th6mon	dedsen	Yendedare
	30.09.2018	30.06.2018	30.09.2017	30.09.2018	30.09.2017	31.03.2018
	Reviedew	Reviedew	Reviedwe	Reviedwe	Reviedwe	Audited
a)St regmenevenue
Packingfilmags	516.59	475.81	441.54	992.40	850.27	1,748.60
Others
Subtotal	516.59	475.81	441.54	992.40	850.27	1.748.60
Le: Intentuessr segmereven
Tolta	516.59	47815.	441.54	992.40	850.27	1,748.60
b)Sultt regmeness
Profit beftadinttorexaneres
Packingfilmags	29.89	31.59	48.33	61.48	73.66	143.95
Others
SubTolta	29.89	31.59	48.33	61.48	79.66	143.95
Le: Finastsssnceco	1475	15.46	14.87	30.21	26.12	50.12
Le: Ullobleofallableincetessnacaexpensesnunocom	1.48	1.68	3.38	3.16	5.07	8.36
Profit fditivitybeftaromornaryacorex	13.66	14.45	30.08	28.11	48.47	85.47
c)Cital epledapmoy
Set aetgmensss
Packingfilmags	1,612.75	1,561.45	1,473.47	1,612.75	1,473.47	1.482.27
Others
Unallocated	162.50	180.84	219.31	162.50	219.31	21853
Tolta	7S1.7.25	1,742.30	1,692.78	1,775.25	1,692.78	1,700.80
Set liabilitygmen
Packingfilmags	348.14	307.77	248.01	348.14	248.01	308.66
Others
Unalledatoc	2.17	0.71	0.67	2.17	0.67	0.71
Total	350.31	308.48	248.68	350.31	248.68	309.37
Seital eplodt cgmenapmye
Packingfilmags	1,26461	.6S1.253	1,225.46	1.264.61	1,225.46	1.173.61
Others
Unallatedoc	160.33	180.13	218.64	160.33	218.64	217.82
b'^2Tol^ta<	1,424.94	1,433.82	1,444.10	1,424.94	1,444.10	1,391.43
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STATEMENT OF ASSETS AND LIABILITIES

		STANDALONE	STANDALONE
S.N	Partila	Aats	Aats
o.	curs	30.09.2018	31.03.2018
		Reviedew	Audited
A	ASSETS
1	Nontetn-curreasss
	a)Planndipmrtyt atrope, pequen	970.34	931.8812.39
	b)Cital wk-in-aporprogressInible	15.083.11	3.09
	c)tatsngassed)Finaial aetncsss
	(i)Insttsvemen	115.39	115.39
	(ii) Loans	10,26	10.25
	(iii) Othfiial aeternancsss	1.43	875.
	e)ef(n)Ddtatseterrexasse
	T)In(n)tatsetcomexasse	9.43	9.34
	g)Othnttsernon-curreasse	42.53	39.65
	Total nnteton-curreasss	1,167.57	1,127.86
2	Cnteturreasss
	a)Inntiesveor	208.94	184.46
	b)Finaial aetncsss
	(i)Insttsvemen	15.26	57.82
	(ii)Tdeivablrarecees	256.48	221.59
	(iii)Cashndhuivaltsacaseqenthbkbala	13.408.41	25.989.46
	(iv) Oerannces(v) Loans	1.33	0.80
	(vi)Other finaial aetncsss	6182	37.21
	c)Othntetercurreasss	42.04	35.62
	Tol ctanteturreasss	607.68	572.94
	Total aetsss	1,25775.	1,700.80
B	EQUITfANDLIABILITIES
1	Equity
	a)Eityhaitalqusrecap	19.44	19.44
	b)Othityerequ	626.81	617.64
	Tol eitytaqu	646.25	63087.
2	Noliabilitientn-curres
	a)Finaial liabilitiesnc
	(i)Binorrogsw	413.90	405.31
	(ii)Othfiial liabilitiesernanc	1.08	5.62
	b)(n)Defdtaliabilitieterreesx	43.14	41.58
	c)Othliabilitinternon-currees	54.40	.8555
	Total nntliabilitieon-curres	512.52	508.36
3	Cntliabilitieurres
	a)Finaial liabilitiesnc
	(i)Binorrowgs	216.08	209.67
	(ii)Tdeablesrapay
	(a) Taldidf micrrisndottstteouanngues ooenrpesa	0.86	1.75
	all eisentsmerprs	214.53
	(b) Taldidf cditththicrottstouanngues oreors oeranmorisndall eisetent		180.27
	enrpesasmerprs(iii) Othfiial liabilitiesernanc	159.26	148.51
	b)Othliabilitintercurrees	23.58	14.45
	c)Cliabiliti(n)nttaeturrexes	2.17	0.71
	Total cntliabilitieurres	616.48	555.36
	Tol eityndliabilitietaas	1,775.25	1,700.80
	qu

Notes:

• 1 The above unaudited standalone financial results were reviewed by the Audit Committee and approved by the Board of Directors on 12 November 2018 and limited review of the same has been carried out by the statutory auditors of the company.
• 2 These financial results have been prepared in accordance with the recognition and measurement principles of applicable Indian Accounting Standards ('Ind AS') notified under the Companies (Indian Accounting Standards) Rules, 2015 as specified in section 133 of the Companies Act, 2013
• 3 According to the requirements of Ind-AS and SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, revenue for the six month ended 30th September 2017 and for the year ended 31st March 2018 were reported inclusive of Excise Duty. The Goverment of India has implemented Goods and Senice Tax (GST) from 1st July 2017 replacing Excise Duty. Service Tax and various other indirect taxes. As per Ind-AS, the revenue for the period ended 30th Sep 2018 and 30th June 2018 are reported net of GST. Had the previously reported revenue shown net of excise duty, comparative revenue of the Company would have been as follows:

	3	thdemonsen	d	th6mon	Yendedare
Partilacurs	30.09.2018	30.06.2018	30.09.2017	30.09.2018	30.09.2017	31.03.2018
	Reviedew	Reviedew	Reviedew	Reviedew	Reviedew	Audited
Net Sales/RfrOions (Nef EiseD)ratt outyevenueompexc	516.59	47815.	441.54	992.40	850.27	1,748.60

4 Other income includes sales tax exemption recomputation benefit related to previous years as under:

		3thdedmonsen			thded6monsen
Partilacurs	30.09.2018	^0,06.2018	30.09.2017	30.09.2018	30.09.2017	31.03.2018
	Reviedew	Reviedew	Reviedew	Reviedew	Reviedew	Audited
Other Income			12.19		12.19	14.59

5 The above results includes gains/floss) due to foreign exchange rate fluctuations on foreign currency borrowings as under:

		3thdedmonsen				Yendedare
Partilacurs	30.09.2018	30.06.2018	I30.09.2017	30.09.2018I	30.09.2017	31.03.2018
	Reviedew	ReviedIew	Reviedew	Reviedew	IReviedew	didteau
Other ln/(Es)comexpense	(03).1	(07).1	2.93	(00).3	4.96	8.71
Fistsnanceco	(3.69)	(5.09)	(32).8	(8.78)	(6.56)	(1)1.66

6 The Company has adopted Ind AS 115 "Revenue from contracts with customers" applying a full retrospective transition approach, which replaces earlier revenue recognition standard. The Company has assessed that, in case of certain contracts with customers, some performance obligations comprise arranging for another party to provide certain services to the customers Accordingly, revenue for such performance obligations is recognized as the difference between the consideration allocated for services provided to customers and the related costs for arranging the same. However, there is no impact on retained earnings or profit for the respective periods.

The restated revenue for the quarter ended 30th September 2017, half year ended 30th September 2017 and year ended 31st March 2018 is lower by Rs 17.25 crore, Rs 35.92 crores and Rs 77.98 crores respectively with the corresponding decrease in other expenses.

7 .._,.^.^...,^.^,.,^^..,...^^.,,..^.^..^^^^

New Delhi 12th November 2018

ANIL KUMAiyjAIN DIRKCTOR 's ft *

SIGNED FOR IDENTIFICATION PURPOSES

Walker Chandiok&.Co LLP

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

T+91 11 4278 7070 F+91 1142787071

Independent Auditor's Review Report on Consolidated Quarterly Financial Results and Year to Date 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 ofCosmo Films Limited

• 1. We have reviewed the accompanying statement of unaudited consolidated financial results ('Statement') of Cosmo Films Limited ('the Company') and its subsidiaries (the Company and its subsidiaries together referred to as 'the Group'), (Refer Annexure 1 for the list of subsidiaries included in the Statement) for the quarter ended 30 September 2018 and the consolidated year to date results for the period 1 April 2018 to 30 September 2018, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Lisdng Obligations and Disclosure Requirements) Regulations, 2015. 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 the Statement based on our review.
• 1. We conducted our review in accordance with the Standard on Review Engagement (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 tliat 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.
• 1. 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 Indian Accounting Standards specified under Section 133 of the Companies Act, 2013 and SEBI Circulars CIR/CFD/CMD/15/2015 dated 30 November 2015 and CIR/CFD/FAC/62/2016 dated 5 July 2016, and other recognised accounting practices and policies has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (T.isting Obligations and Disclosure Requirements) Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. We did not review the financial information of six subsidiaries included in the Statement whose financial results reflect total revenues of ^ 26.20 crore and ^ 50.03 crore for the quarter and period ended 30 September 2018 respectively, net profit (including other compr-^^^^ncome) ^°

Chartered Accountants

Walker Chandiok & Co LLP is registered with limited liability with identification number AAC-2085 and its registered

Walker Chandiok&CoLLP

Independent Auditor's Review Report on Consolidated Quarterly Financial Results and Year to Date Results ofCosmo Films Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Cont'd)

of ^ 2.79 crore and ^ 2.12 crore for the quarter and period ended 30 September 2018 respectively, total assets of ^ 233.34 crore and net assets of ^ 170.12 crore as at 30 September 2018. These financial information have not been reviewed and have been furnished to us by the management and our review report on the consolidated financial results, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, are based solely on such financial information that has not been reviewed. According to the informadon and explanations given to us by the management, these financial information are not material to the Group. Our review report on the consolidated financial results is not modified in respect of this matter with respect to our reliance on the financial information certified by the management.

For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No: 001076N/N500013

^<^

Siddharth Talwar Partner Membership No. 512752

Walker Chandiok&CoLLP

Independent Auditor's Review Report on Consolidated Quarterly Financial Results and Year to Date Results ofCosmo Films Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Cont'd)

Annexure 1

List of entities included in the Statement

• a. Cosmo Films Singapore Pte Ltd.
• b. Cosmo Films Korea T.imited
• c. Cosmo Films Japan, GI<
• d. Cosmo Films Inc.
• e. CF (Netherlands) Holdings I.td B.V.
• f. CF Investment Holding Private (Thailand) Company limited
• g. Cosmo Films Poland Sp Z.0.0

COSMO FILMS LIMITED UNAUDITED CONSOLIDATED FINANCIAL RESULTS

							(Rs in C)rores
			3 mthsndedone		6 mthson	ndede	Yededaren
S.No	Particulars	30.09.2018	30.06.2018	30.09.2017	30.09.2018	30.09.2017	31.03.2018
		Reviedwe	Reviedwe	Reviedwe	Reviedwe	Reviedwe	Audited
	Income:
	a)Ree ftion ()venuromoperagross	531 40	517.57	467.22	1,048.97	916.57	1,876.98
	b)Other income	1 58	2.69	18.91	4.27	21.48	34.51
	Tol intameco	532.98	620.26	486.13	1,053.24	938.05	1.911.49
	Expenses
	a)Coofialsedsttermaconsum	39900	39068	334.24	78968	636.29	1.331.48
	b)Purchf tradedodase ogos	0.22	0.20	0.40	0.42	098	1.63
	Chc)s in itoriesoffinishedodangenvengos
	d sk-iradtocn-tane	(13)1.7	(g) .41	(31).0	(23)1.1	(17)5.3	(8).42
	d)Excise duty					30.46	30.46
	e)Emploe befit eyeenxpenses	32.85	32.06	3367	64.91	65.19	129.98
	T)Deciationdisatioortpren aamn expenses	13.85	1305	12.97	2689	2550	51.21
	g)Finstsanceco	16.01	16.66	15.22	32.67	26.84	5238
	h)Allfotededit loowancer expeccrsses	(01).0	(0).08	0.12	(0).09	0.42	118
	i) Other expenses	69.45	63.39	66.25	132.84	12852	257.59
	Total expenses	519.64	506.55	459.86	1,026.19	898.83	1,847.49
	Profit befo(l-ll)taxre	13.34	13.71	26.27	27.05	39.22	64.00
IV	Tax expense:
	a)Cunttaxrre	2.95	3.03	4.57	985.	8.68	1582
	b)Deferred/ (credit)tax expense	027	0.58	1 35	0.85	096	(16).25
	I Intacomex expense	3.22	3.61	5.92	6.83	9.64	(0.43)
v	Net profit ftheriod (111-IV)orpe	10.12	10.10	20.35	20.22	29.58	64.43
VI	[Otheheiveinr comprenscome
a)	i) Iifieroftems that will notbeclad tit or loresso pss	6.22	0.77	0.21	698	0.43	6.73
	Inclatedabe ttoomaxreove	(0).05	(0).05	(0).07	(0).09	(0).15	(0)19
b)	i)Itethwill blassifiedofir loattot omse recprss	(7.47)	8.86	(0.40)	139	(020)	(6.31)
	Ince tlatedtoabeomaxreov	2.61	(3.09)		(0.48)		220
	Totalheheive(lo)/ince (f tax)ott or comprensssomne	1.31	6.49	(0).26	7.80	0.08	2.43
VII	Totalrehsive ie ftheriod (V+VI)compenncomorpe	11.43	16.59	20.09	28.02	29.66	66.86
VIII	[Paidityshpital(falueRs.10)- up equarecaceva	19.44	1944	19.44	19.44	19.44	19.44
IX	I Otheityr balaheetr equaspence s						600.22
x	Earnihafortheriod(of R0/-ch)s 1ngper sree pea
	(notalid)annuse
	Basic	5.28	5.27	10.61	1055	1543	33.62
	Diluted	528	5.27	10.61	10.55	15.43	33.62

REPORTING OF SEGMENTWISE REVENUE, RESULTS AND CAPITAL EMPLOYED

	3 mthsndedone			6 mthson	ndede	Yededaren
Particulars	30.09.2018	30.06.2018	30.09.2017	30.09.2018	30.09.2017	31.03.2018
	Reviedwe	Reviedwe	Reviedwe	Reviedwe	Reviedwe	Audited
a)Set rgmenevenue
filPackingagms	52983	516.28	466.47	1,04611	882.66	1.842.03
Others	1 57	1.29	0.75	2.86	3.45	4.49
Sub total	531.40	517.57	46722	1,048.97	88611	1,846.52
Le: intert resssegmenvenue
Tolta	631.40	517.57	467.22	1,048.97	886.11	1,846.52
b)Set rultgmeness
Profit /(loss)beford ie tntetaxanres
Packingfilagms	30.39	3185	44.54	6224	70.44	12380
Others	043	0.20	0.32	0.63	0.69	0.94
Sub talot	30.82	32.05	44.86	62.87	71.13	124.74
Le: Finatsssnce cos	16.01	16.66	1522	32.67	26.84	52.38
Le: Ullocablet of ullocableincssnaexpensesnenaome	1 47	1.68	3.37	315	5.07	8.36
Profit frditivitybefotaxromonaryacre	13.34	13.71	26.27	27.05	39.22	64.00
c)Capita)loyedemp
Set aetsgmenss
Packingfilagms	1.766.84	1.716.00	1.587.50	1,766.84	1.597.50	1.62905
Others	2.35	2.40	2.67	2.35	2.67	271
Unalldateoc	89.98	106.65	12621	89.98	126.21	146.44
Total	1,859.17	1,825.05	1,726.38	1,859.17	1,726.38	1,778.20
Set liabilitgmeny
Packingfilagms	37050	342.88	269.92	370.50	26992	329.80
Others
Unallatedoc	2.17	0.71	0.67	217	067	113
Total	372.67	343.59	270.59	372.67	270.59	0.S333
Set cital eloyedgmenapmp
Packingfilagms	1.396.34	1.373.12	1.32758	1.39634	1.32758	1.299.25
Others	2.35	2.40	267	235	2.67	271
Unaildateoc	87.81	105.94	1245.5	8781	12455	145.31
Tolta	1,486.50	1,481.46	1,455.79	1,486.50	1,455.79	1,447.27

SIGNED FOR ^ IDENTIFICATION PURPOSES

STATEMENT OF ASSETS AND LIABILITIES

		CONSOLIDATED	CONSOLIDATED
ISO..N	Partilacurs	Aats	Aats
		30.09.2018	31.03.2018
		Reviedwe	Audited
A	ASSETS
1	Nonttsn-curreasse
	a)Prlanndipmty,t atoperpequen	1,035.31	990.95
	Cab)pitalrk-in-woprogress	15.08	12.39
	c)Invtmt prtyesenrope	30.91	29.28
	d)Intaibletsnge ass	3.11	3.03
	e)Finaialetsncass	0.17
	(i)Invtmtsesen	10.26	0.17
	(ii)Loansther finaialets	1.43	10.255.87
	(iii) OncassfeDed tets	4.72	3.14
	f)(net)rreaxassIn(net)taetscomex ass	9.44	9.34
	g)h)Othenttsr non-curreasse	45.16	40.89
	Tol ntanttson-curreasse	1,155.59	1,10375.
2	Cunttsrreasse
	a)Inrientoves	319.83	282.05
	b)Fincial aetsanss
	(i)Insttsvemen	15.26	57.82
	(ii)Tradivableereces	224.10	204.63
	(iii) Ch andshivalentsascaequ	25.36	40.01
	(iv) Othbankbalaernces	8.41	46g.
	(v)Loans	3.48	1.65
	(vi) Othfincial aetseranss	61.81	38.03
	c)Othenttsr curreasse	45.32	39.18
	Total cnttsurreasse	703.57	672.83
	ITalottsasse	1,859.16	1,778.20
B	EQSUITYANDLIABILITIE
1	Equity
	a)Eityshitalquare cap	19.44	19.44
	b)Otheityr equ	615.65	600.22
	Equity	63095.	619.66
2	Noliabilitientn-curres
	a)Finaialliabilitiencs
	(i)Bowirrongs	413.90	405.31
	(ii)Othfincial liabilitieseran	1.08	5.62
	b)Pvisionros	3.98	3.68
	c)Defed tliabilities (t)rreaxne	43.14	40.49
	d)Otheliabilitientr non-curres	54.40	55.85
	Tol nliabilititanton-currees	516.50	510.95
3	Cuntliabilitierres
	a)Fincial liabilitiesan
	(i)Bowirros	288.80	287.15
	ng(ii)Tdeablesra
	pay(a)Tl ondingdf micrrisndotautstanteues oo eesa	0.86	1.75
	rpallrisntesmerpes
	(b)Tl oding df creditooththaicrotautstanoues orsern m	223.21	187.27
	risndallristenteenrpesasmerpes
	(iii) Other fiialliabilitienancs	164.88	153.92
	b)Otheliabilitientr curres	27.65	16.36
	Cuc)ntlaxliabilities (t)rrene	2.17	1.13
	Tol cliabilititanturrees	707.57	647.59
	TalEquitdLiabilitieotyans	1,85?.1A	1,778.20

Notes:

• 1 The above unaudited financial results were reviewed by the Audil Committee and approved by the Board of Directors on 12 November 2018 and limited review of the same has been carried out by the statutory auditors of the company.
• 2 These financial results have been prepared in accordance with the recognition and measurement principles of applicable Indian Accounting Standards ('Ind AS') notified under the Companies (Indian Accounting Standards) Rules, 2015 as specified in section 133 of the Companies Act, 2013
• 3 According to the requirements of Ind-AS and SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, revenue for the six month ended 30th September 2017 and for the year ended 31st March 2018 were reported inclusive of Excise Duty. The Goverment of India has implemented Goods and Service Tax (GST) from 1st July 2017 replacing Excise Duty, Service Tax and various other indirect taxes. As per Ind-AS, the revenue for the period ended 30th Sep 2018 and 30th June 2018 are reported net of GST, Had the previously reported revenue shown net of excise duty, comparative revenue of the Company would have been as follows:

	3 m	6 mthson	Yededaren
Particulars	30.09.2018	30.06.2018	30.09.2017	30.09.2018	30.09.2017	31.03.2018
	Reviedwe	Reviedwe	Reviedwe	Reviedwe	Reviedwe	Audited
Net Sales/RfroOptio(NofExcise Detuty^evenuemerans	531.40	51757	46227.	1,048.97	886.11	1,846.52

4 Other income includes sales tax exemption recomputation benefit related to previous years as under:

		3 mthsndone	ed	6 mthson	Yededaren
Particulars	30.09.2018	30.06.2018	30.09.2017	30.09.2018	30.09.2017	31.03.2018
	Reviedwe	Reviedwe	Reviedwe	Reviedwe	Reviedwe	Audited
Other Income			12.19		12.19	1459

5 The above results includes aains/doss) due to foreign exchange rate fluctuations on foreign currency borrowings as under;

		3 mthsndedone		6 mthson		Yededaren
Particulars	30.09.2018Reviedwe	30.06.2018Reviedwe	30.09.2017Reviedwe	30.09.2018Reviedwe	30.09.2017Reviedwe	31.03.2018Audited
Other ln/(Es)comexpense	(0.18)	0.43	2.33	0.25	3.48	8.98
FinCtsanceos	(3).69	(5.09)	(3.82)	(8.78)	(6).56	(16)1.6

6 The Company has adopted Ind AS 115 "Revenue from contracts with customers" applying a full retrospective transition approach, which replaces earlier revenue recognition standard. The Company has assessed that, in case of certain contracts with customers, some performance obligations comprise arranging for another party to provide certain sen/ices to the customers. Accordingly, revenue for such performance obligations is recognized as the difference between the consideration allocated for services provided to customers and the related costs for arranging the same. However, there is no impact on retained earnings or profit for the respective periods.

The restated revenue for the quarter ended 30th September 2017. half year ended 30th September 2017 and year ended 31st March 2018 is lower by Rs 20.42 crore. Rs 41 78 crores and Rs 89.71 crores respectively with the corresponding decrease in other expenses,

7 Tax expense is based upon the estimated tax computation for the whole year and excess/short provision, if any will be adjusted in the last quarter.

8 Key numbers of Standalone financial results are as given below. The standalone financial results are available at Company's website.

Particulars	3 mthsndedone			6 mthsndedone		Yededaren
	30.09.2018Reviedwe	30.06.2018Reviedwe	30.09.2017Reviedwe	30.09.2018Reviedwe	30.09.2017Reviedwe	31.03.2018Audited
							Ince ftion (Grs Sales)omromoperaos
fiV(Lo) frforProdintivitybee tssomoraryacax	13.64	14.46	30.08	28.11	48.47	85.47
ProfitffLo) frdintivityafttaxssomoraryacer	10.26	10.66	24.72	20.94	39.53	84.89

New Delhi 12th November 2018

SIGNED FOR IDENTIFICATION PURPOSES