S R B C CO LLP 14th Floor. The Ruby Tel · 2018-05-22 · S R 8 C & CO LLP Chartered Accountants...

7
S R B C & CO LLP 14th Fl oor. The Ruby 29 Senapati Bapat Marg Dadar (West ) Chart ered Account ants Mumbai - 400 028. India Tel :+9 122619 2 0000 F ax: +91 22 6192 1000 Auditor's Report On Quarterly Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 To Board of Directors of Future Consumer Limited I. We have the accompanying statement of quarterly consolidated financial results of Future Consumer Limited ('the Company') comprising its subsidiaries (together, ' the Group'), its associate and joint ventures for the quarter and year ended March 31, 2018 ('the Statement'), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016. The quarterly consolidated financial results are the derived figures between the audited figures in respect of the year ended March 31, 2018 and the published year-to-date figures up to December 31, 2017, being the date of the end of the third quarter of the current financial year, which were subject to limited review. The consolidated financial results for the quarter and year ended March 31 , 2018 have been prepared on the basis of the consolidated financial results for the nine-month period ended December 31, 2017, the audited annual consolidated lnd AS financial statements as at and for the year ended March 31, 2018, and the relevant requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016, which are the responsibility of the Company's management and have been approved by the Board of Directors of the Company. Our responsibility is to express an opinion on these consolidated financial results based on our review of the consolidated financial results for the nine-month period ended December 31, 2017 which was prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard (Ind AS) 34 Interim Financial Reporting, specified under Section 133 of the Companies Act 20 13 read with relevant rules issued thereunder and other accounting principles generally accepted in India; our audit of the annual consolidated lnd AS financial statements as at and for the year ended March 31, 20 18; and the relevant requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016. 2. 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. 3. In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the reports of other auditors on separate financial statements and the other financial information of subsidiaries, associate and joint ventures as referred to in paragraph 5 below, these quarterly consolidated financial results as we ll as the year to date results: 1. includes the results of the entities mentioned in paragraph 4 below; ii. are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/FAC/62/20 16 dated July 5, 2016, in this regard; and S R B C & CO llP. •ll1m1ted llab Ill'( w•t h llP No. AA8 ·43 JS Requ Oll•ce: 22, Camac SlrC'et. Block · . Jra n 001 ,t<olkatn·700 016

Transcript of S R B C CO LLP 14th Floor. The Ruby Tel · 2018-05-22 · S R 8 C & CO LLP Chartered Accountants...

Page 1: S R B C CO LLP 14th Floor. The Ruby Tel · 2018-05-22 · S R 8 C & CO LLP Chartered Accountants 111. gives a true and fair view of the net loss and other financial information for

S R B C & CO LLP 14th Floor. The Ruby 29 Senapati Bapat Marg Dadar (West ) Chartered Account ants

Mumbai - 400 028. India

Tel :+9 1226192 0000 Fax: +91 22 6192 1000

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

To Board of Directors of Future Consumer Limited

I. We have audit~d the accompanying statement of quarterly consolidated financial results of Future Consumer Limited ('the Company') comprising its subsidiaries (together, ' the Group'), its associate and joint ventures for the quarter and year ended March 31, 2018 ('the Statement'), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016. The quarterly consolidated financial results are the derived figures between the audited figures in respect of the year ended March 31, 2018 and the published year-to-date figures up to December 31, 2017, being the date of the end of the third quarter of the current financial year, which were subject to limited review. The consolidated financial results for the quarter and year ended March 31 , 2018 have been prepared on the basis of the consolidated financial results for the nine-month period ended December 31, 2017, the audited annual consolidated lnd AS financial statements as at and for the year ended March 31, 2018, and the relevant requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016, which are the responsibility of the Company's management and have been approved by the Board of Directors of the Company. Our responsibility is to express an opinion on these consolidated financial results based on our review of the consolidated financial results for the nine-month period ended December 31, 2017 which was prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard (Ind AS) 34 Interim Financial Reporting, specified under Section 133 of the Companies Act 20 13 read with relevant rules issued thereunder and other accounting principles generally accepted in India; our audit of the annual consolidated lnd AS financial statements as at and for the year ended March 31, 20 18; and the relevant requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016.

2. 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.

3. In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the reports of other auditors on separate financial statements and the other financial information of subsidiaries, associate and joint ventures as referred to in paragraph 5 below, these quarterly consolidated financial results as well as the year to date results:

1. includes the results of the entities mentioned in paragraph 4 below;

ii. are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/F AC/62/20 16 dated July 5, 2016, in this regard; and

S R B C & CO llP. •ll1m1ted llab Ill'( Paflrtr~tup w•t h llP kt~rhly No. AA8·43 JS Requ Oll •ce: 22, Camac SlrC'et. Block ·c·. Jra n 001 ,t<olkatn·700 016

Page 2: S R B C CO LLP 14th Floor. The Ruby Tel · 2018-05-22 · S R 8 C & CO LLP Chartered Accountants 111. gives a true and fair view of the net loss and other financial information for

S R 8 C & CO LLP Chartered Accountants

111. gives a true and fair view of the net loss and other financial information for the quarter and year ended March 31 , 20 18.

4. The Statement includes the results of the following entities:

List of subsidiaries

Aadhaar Wholesale Trading and Distribution Limited, Appu Nutritions Private Limited, Bloom Food and Beverages Private Limited, FCEL Food Processors Limited, FCEL Overseas FZCO, Future Consumer Products Limited, Future Food and Products Limited, Future Food Processing Private Limited, Integrated Food Park Private Limited, Nilgiri's Mechanised Bakery Private Limited, Nilgiris Franchise Private Limited, The Nilgiri Dairy Farm Private Limited

List of Joint Ventures

ACK Media Direct Limited, Amar Chitra Katha Private Limited, Aussee Oats India Private Limited, Aussee Oats Milling (Private) Limited, Avante Snack Foods Private Limited, Genoa Rice Mills Private Limited, Hain Future Natural Products Private Limited, IBH Books & Magazines Distributors Limited, Ideas Box Entertainment Limited, Mibelle Future Consumer Products AG, MNS Foods Private Limited, Sublime Foods Private Limited

List of Associate

Sarjena Foods Private Limited

5. We did not audit the financial statements and other financial information, in respect of 8 subsidiaries, whose financial statements include total assets of Rs 46,253.28 Lacs and net assets of Rs 5,191.36 Lacs as at March 31, 20 18, and total revenues of Rs 14,03 5.19 Lacs and Rs 54,523.03 Lacs for the quarter and the year ended on that date respectively. These financial statements and other financial information have been audited by other auditors, which financial statements, other financial information and auditor's reports have been furnished to us by the management. The consolidated Ind AS financial statements also include the Group' s share of net loss ofRs. 1,100.52 Lacs and Rs 2,161.80 Lacs for the quarter and for the year ended March 31, 2018 respectively, as considered in the consolidated Ind AS financial statements, in respect of 1 associate and II joint ventures, whose financial statements, other financial information have been audited by other auditors and whose reports have been furnished to us by the Management. Our opinion, in so far as it relates to the affairs of such subsidiaries, joint ventures and associate is based solely on the reports of other auditors. Our opinion is not modified in respect of this matter.

6. The comparative financial information of the Group including its Associate and Joint Ventures for the quarter and for the year ended March 3 I, 2017 prepared in accordance with Ind AS, included in these consolidated Ind AS financial results, have been audited by the predecessor auditor who had audited the consolidated lnd AS financial statements for the relevant periods. The report of the predecessor auditor on the comparative financial information dated May 26, 2017 expressed an unmodified opinion.

Page 3: S R B C CO LLP 14th Floor. The Ruby Tel · 2018-05-22 · S R 8 C & CO LLP Chartered Accountants 111. gives a true and fair view of the net loss and other financial information for

S R 8 C & CO LLP Chartered Account ants

7. Further, read with paragraph 1 above, we report that the figures for the quarter ended March 31, 2018 represent the derived figures between the audited figures in respect of the financial year ended March 31, 2018 and the published year-to-date figures up to December 31, 2017, being the date of the end of the third quarter of the current financial year, which were subjected to a limited review as stated in paragraph 1 above, as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016.

For S R B C & CO LLP Chartered Accountants ICAI Firm Registration Number: 324982E/E300003

rr~ per Pra'iood Kumar Bapna Partner Membership No.: 105497

Place: Mumbai Date: May 22,2018

Page 4: S R B C CO LLP 14th Floor. The Ruby Tel · 2018-05-22 · S R 8 C & CO LLP Chartered Accountants 111. gives a true and fair view of the net loss and other financial information for

Future Consumer Limited (formerly known as Future Consumer Enterprise Limited) Rt>gd. OHkt :Knowlrdgt II oust, Shy Am ~o~g.u·, Q(( , Jogf'shw.ui \"il-.hroli l.ink Rd., Jogt>s hw,tri (F.), ~lumbdi-60.

S I t\'11 =~11·:'-\ I' Of' CO:"S<H.IDATFO Fl~A!'\CIA I. RESUI.TS I;O R T ilE QUAR r ER Al':D YFAn E!\"OEO MARCi l 31, 2018

l'AH IICUW\RS

(Ht~Ct•r ~oh•s lH•Iow)

1 hunnw

(ct) Rt'\'l'll U(' from opt .. r.t i !On'>

(h) Oth~r lrWtlllW (l~l•ft:or 1\:ot(' II)

I O!dllrKOnt('

2 1 :\))t.'rl~i'S

(d)<.. u~t nf nMt .. •n.tls (Qnsuml'll

(I') P uKh.tS\."'<i ofStn~:J... tn Trdd (•

(f) ( IMnp,~~ m ln\'l'llltmt">S of fuHs!wd goods, " orl-..-m-progrt~s .uHi str"-:k-•n-tr.td l'

(d) EmploH...-:' herwf1b C\fX'JlSC

t'-') l·nl,m\·C'Costs

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(g) tlthC'r ('\fX'IlSl~

l llt;l ) J:xp{'n!'it'5

l'rufi t / (loss) bdon• sh.m• of profit /( Loss) of •n Asso\i.t.h•/o~ Jo int Vt~ntun.• and hn.•ption.sl i tf.'m s f l-2)

·I '-hMt~ of Prol1t / (I (I'>\) tn Asc;onotl' Compc~nv .md jomt VC'n turl"S

Profit /(! oss) twfnrt•l:.x\l.' pt ion.al items .uut T.1x (3 .. 4 )

Profit /(1 oss) bf.'fon• lfl:\ (5+6)

rd:\ t·~p<' nSI"

( urn·nt r d\

1'\:'t,~rr<'t.f 1 d'C

'J l'w fit / (toss) for tlw 1wriod (7-8)

10 Otlwrtomprt.'ht.'nSi\'e i •u.·o rn<' (OCI) (1) lh•m., tiM!\\ dl not !l(• r(•dd~"'•fH.~t to prof11 or loo;o;

( II) lntonw ''" r,.•l,llm~-., to lh'm<; th,ll '' 111 not tX' rf'll<l SSi fll.>d 10 ~,rof1t or loss

rot.ll ot h\'f t'Oillj)rt•Jwns ivt.• in\'OilH.'

11 Ju tdl \'o mpr(')lt'ns i\'l' i ncome (9 .. 10)

Prufil / (Loss) for tlw yt>.tr .tllrihutJhh• to:

- O''"'nNS of thC' rompo1ny

- Nu rH·ontrolling in h,on•st s

Ollwr' COnlJJn'ht•ns i\'\' in,·unw fur tlw y('M <~ttrihuto~hle to :

- Ownt•rs of the \omp.my

~ Non~,·o nt rolling in h.'n.•st<t

I ot.ll Cumpr<'h<'n~ivl' in\OilH' for llw yt'.H olttrihutahle to:

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-r\nn-t·onlro lling in lt'n•sls

1:! l'.ud -up t'1u•ty '>hMl'l'·'P' '''l ( Fdn~ v,,Jut• of Rs.b/~ pt•r shMLI)

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16 I:>..~bt.•ntun., 1~\>til'mpt•on l~l'Sl'f\'('

17 \.l'l\\'orth

18 P\·bt h.JUII\' Rc~t•o (no. ul trnli''>)

1 l• I )t'bl '-t•rv\t'(' Cov('r<~r,t• R.l l lll (no. of tl tn\"'S)

b) Dliut('l1 (R~.)

SIGNED FOR IDENTIFICATION

BY rJv

vis it us .u : www.fuhtrt'\onsumt r. in

For t he Ou.ut('r L'IHI<·d

AuditC'd

80.694. 1&

l,b88.32

82,382.48

3.273.25

68,485.72

(1,428.41)

3,094.91

1,402.21

1,459.52

5,649.82

81,937.02

445.46

(1,100.52)

(655.06)

(655.06)

17.99

(267.71)

(405.JI)

(129.07) 27.69

(101.38)

(506.72)

(362.99)

(42.35)

(101 .38)

(464 .37)

(42.35)

1,1•1,128 91

(0.02)

(0.02)

For tin · Ou;~rtcr (' Jldl!d

IJt('tmbtr J l, 2017

Unaudil C'd

78,454.48

401.73

78,916.21

3,29'1.79

62,5().1.3-1

I,S'l8Q1

3,457.36

1,366.59

1,05b.84

5,702.34

79,22b.17

(.109.%)

(303.12)

(&1J.08)

(613.08)

(&13.08)

(&JJ.08)

(469,86)

(143.22)

(469,86)

(143.22)

I, 10,084 7Q

(002)

(0.02)

Forth('

.. Quarter C'lld'-'d M.trch JL 2017

A uditt.•d

53,3-14.80

80-1.()9

54,148.89

1,307.53

43,<>14.29

(869.89)

2,.1().1.02

883.8b

701.98

·1,598. 17

54,669.%

(521.07)

(600.32)

(1,121.39)

(1, 121.39)

1b.o2

(1, 138.01 )

(25-3-1)

17.58

(239.76)

(1,377.77)

(1,00'>.19)

(128.82)

(239.76)

( 1,2·18,95)

(128.82)

COOS)

(005)

(Rs in lo~.l..h s t>' c:•pt pt>r sho~n- d.tl.t. )

For lht' Yur•ndrd

A udit<'d Audit<'d

1,00,500 <jQ 2, 11 ,584 07

},253.51 2,5().1.10

3,03,75-1.50 2,14,088.17

1-1.05b 45 11.2~200

2,50,484.88 l ,7b,057.71

(·1,797 57) (b,o19 58)

12,581.18 9,77Q.58

5,268 20 4. ·185 92

·1,5-17.&1 UoO.hO

22,7b5.2Q 18,11& 12

3,04,906,27 2,18,301.S5

( 1, 15Ln) (4,274.38)

(2, 16230) (2,180 21)

(3,314.07) (6,.15·1.59)

(3,314.07) (6;15·1.59)

17QQ

(2o77ll $8.Q.J

(3,0M.35) (&,!>13.53)

(125 87) !:!53.80) 2769 17.58

(98.18) (236,22)

(3,162.53) (b,779.75)

(2,598.42) (6,100.55)

(·165,93) (4<12.98)

(98,18) (236.22)

(2,6%.60) (6,331>. 77)

(465.93) (442,98)

1, 1·1,128 91 98,836 2·1

(l •l ,o03 7ol (Q,qSh 15)

(0 .14) 10.'\.1)

(0 1·1) 101-1)

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0.39 012

(0().1) C0.1n)

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Page 5: S R B C CO LLP 14th Floor. The Ruby Tel · 2018-05-22 · S R 8 C & CO LLP Chartered Accountants 111. gives a true and fair view of the net loss and other financial information for

I. CONSOII IJA I ED STATE~ l EN r OF ASSETS AND U.i\UII.frJES

PARTJCUI.ARS

A ASSFTS Non-Curr~nt A~s<.• ts

(ct) PrOJlNir, Pl,utl .md Equ•pm<'nl (b) C.tpllcll \\'orlo..-Jn-proJ~n·ss (t) lnn--stnwnt PropNi l'

(d) Guodwill (t.•) O ther lnl<~np,ibl(• Assets (f) Intcmp,ihlt• 1\~s<.•ts undN dr\'('lopmt•nt (g) FnMilCMIAc;s t.•tc;

(•)Jmt,•s tments

(i• ) Loans (ri i) Other Fw,tnti.ll ..-\ ssC'Is

(h) DdNrt:>d T,,.,. Asst•ts (net) (•) Otlwr A'on..Currl•nt Asst.•ts

Currt•nt A""t•ts (cl) ltht.'I\IOri('S

(b) Fin.tn\~otl Asst•ts (i) Jn vt•SIIIh'l\l\

(11) rr.ut!!Rt._-...'{'1\'cthk·:, (111 ) C 1::.h Mid \dSh t•quiv,llt.•nts (1\ ') Bcml... U,tl;tnt"t'!t othN them (iii) cllXl\'t'

(v) Lodns (vi) l)thl'T FIIM!lll<ll ASS('IS

(() O tlwr C urrt:>nl i\s'!.('lS

10 I"A I. ASSETS

IJ EQUI I"Y AND I.IAUII.ITIES Equity

(,1) Ft1urtv ShM<' c~,ru t.t l

(b) Oth"-•rEqLnl \'

(r) :-.:t.lll·lOiltrolhnJ~ •nh'n ... s ts

l.lAIJII.IriES Non-t:urrL•nt lidhiliti('S

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(t) Borrowing (u) O tlu:r fnMill'hllli,thilit it~

(h) l'rO\'iSIOilS

(.-) Deft.'rr<'d T,l\ l.hthtliii('S ( nt.ll) (d ) ()tlwr non-"-·urrl'l\1 lt.thili li<'s

Curn•nt li.!hililit.•s (11) rin.ml'i.;~l l.idhilitil•S

(i) Uorruwinp,s

(ii) Tr,h.h.•l't\\'clbll'S (iii) O ther FirMrKi.tl l.i,thilitir·s

(h) Provisions (c) C. )tiH'r C. "urr('nt l .lttbililt<'S

fCHA I FQUITY AND I.IAilii.ITIFS

Its. in lakhs Asdt

~IMCh 3l, 2018

AudiiC'd

50.469.32 4·1,936.97 6,9 18.57 6,071.90

7 10.08 7 1 8.~5

16,389.35 16,769.35 23,386.40 21,986.4•1

2,873.37

3,.105.1 1 4,033.09 2,915.90 1,704.04

7·12.63 1.026.97

29.10 10.75 2,922.56 2,576.78

1,07,919.02 1,02,708.01

22,42-1.3 1 17,573.37

895.69 3.47 49,294.97 32.4 15.02

4,306.69 4.680.88 168.52 73.27

8,821.43 6,381. 10 5,343.25 2.1·12.88 3.071.43 1,200.98

94,326.29 66,470.97

2.02..245.31 1,69,178.98

1, 14,128.9 1 98,836.24

( 14,603.76) (9,986.1 5) 99,525.15 88.850.09

423.24 779.65 99,948.39 89,629.74

1 1.014.16 15.4 19.23 77.57 8 13.89

627.52 ·106.00 ·1,133.47 4,.109.10 4,075.33 4.381.77

39,928.05 25,429.99

23,035.48 18.420.79 SIGNED FOR IDENTIFICATION

2.1.909.21 16.793. 11 BY ~ 12,283.16 16,231.44 1,356.7·1 1, 120.17 1,78-1.28 1,553.74

62,368.87 54,119.25 S R B C & CO LLP 2,02,245.31 1,69,178.98

MUM

Page 6: S R B C CO LLP 14th Floor. The Ruby Tel · 2018-05-22 · S R 8 C & CO LLP Chartered Accountants 111. gives a true and fair view of the net loss and other financial information for

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Page 7: S R B C CO LLP 14th Floor. The Ruby Tel · 2018-05-22 · S R 8 C & CO LLP Chartered Accountants 111. gives a true and fair view of the net loss and other financial information for

flw [ 1,t\•d ~'\:urt'\t i':on-ConH'ftJ ble fX>bt. ... ntur('S of Itt~ Comprtn v .tp,gn.--.g.ttmp, to R ... 250 no res,,~ on t\IMdl 31, 2018 ctr<' St."'CUrl"'<i lw w,w of C\rhJ<; J \'(' Ch.trg~ on sp<"l'JfK f l'x('d .wwts of th(• Comp.mv .md I ,,r 1ts sull51d1Mit..., dnd um:ont.ht•onill ilnd •rn ... \CK-,tb!<' p,uMclnlt't' <li ~lr "-1shor<> UJ\'MH, Dlr<'fl<lr tlf t h<' Compilm, for prmnp~tl Jnti 11~ ml<'rt•st thereon. I he .tsset (over 111 r~Pffl of :-..:on-Convertible' l)et'X>ntun..--s of the Comp.mv rt~ on l\IMl'h 31. 2018 ext'(l(ltfS 100~ of t ht.., prul(lpcll Jmo unt of the Sdtt1 hstNl t'on.Con..,Ntib\(' Dt_-.btmtun~.

4 Forrnu l.t for computilllon of rd ttos M<.> ,,s follows. {ct) l'.ud up IA-.bt Ctplt,t l • (Long tC'rm Porrowmgco-+ Cu rr..-.nt miltufllt(>S of Long t..-.rm horrowm~~s). (h) l)(>ht Ft.lult\' RiltiO • (long INm l-.orrowmgs-+ t.LHr('nl mdluniJC'S of Long term borrowmgs) I ( Equ•ty) (\ }IA:-ht ~r\'Kt.., Co \'t:'fcl~~l' R.ltto - (Pmf1t from or\hnMv dCl JVII I<'S be{ or(' til-.:+ lnt<'r~l on long-term borrowmgs) / ( ln!Pn~st o n long-tem OOrrowmgs + Rcp.tynwtlt o f long-term borrowmgs ~tunng the ~nod) . {d) lnlt'r<"-1 ',t•rvKt:' <.over"&'"' R<~IIO • (Prof•t from ordnMry .l(t•v•tu~s bt_~forC' 1,1, -t lnt~r('<;t on long~l<'fln borrowings) I Inter<" I on long-tNm borrowmgs.

For tht..., pur pOSt' of l' rtl\ uldt1on, loilns h.wmg onguMI nliltunty of mor(' th,m 365 d,,, s .Ul' l·onsld(.•rt."(f ,,s long-t\'nn borrowtnB"·

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\J ~t-.qu.trlt-'f,Hhl ~('.Hend('(i ~I,Hdl:\1, 2018: ,1) ()tht.-or uKOill\~· mdudC'S f,m v.1lue g.un of R ... 728.20 Ldkh~ on rhMlgt.> ml'litS'il ftl'dtJOn of illl 10\'C'SIIll<'nl lll lteht.-.ntun.~ from non-(urr('nt to \·urr('nt. h)l~ ... pr~-~<ltton, dlllortiSdtlon &. tmp.l•rm<'nt' tnl'ludes lmp<:~1rrnent lo~~ of Reo. 380.00 I ,1k.hs. on (_.oodwlll on ~.·onso!JdiltJon

(A uditl"d)

65,119.48

1,097.76

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D.H(': M.ty 22. 2018

SIGNED FOR IDENTIFICATION

BY ~

S R B C. & CO LLP MUMBAI

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