‘Gokul Retails & Solvent Ltd.Corporate once :

‘Gokul House‘, 43 Shrsemali Co—ag. Housing Society Ltd.

I] Opp. Shikhar Building. Navrangpura,

GOKUL

Ahmedabad-SED 009. Gujarat (India)Fh. : +e1—79—se3m555, 6666253154155

Fax 91-79%304543 Emll : grslggokulgmpmm

May 27, 2019 cm : L151426J1992PL001B745

T0, T0,

Dept. ofCorporate Services, National Stock Exchange of India Ltd.

BSE Ltd. Exchange Plaza,

25m Floor, Phiroze Jeejeebhoy Tower, Plot no. Cl], 0 Block,

Dalal Street, Fort, Bandra—Kurla ComplexMumbai ,400 001 Bandra (E) Mumbai - 400 05l

Company Code1532980 SymlthOKUL EQ

Dear Sir/ Madam.

Sub: Outcgme of Board Meeting held today

Start Timefi. 3 9 I’rm‘ Conclusion Time: 3 ‘ 00 jim-

In compliance to the provisions of SEBI (LODR) Regulations 2015. we have to inform you that at

meeting of Board of Directors held on Monday 27, 2019 following have been approved:

1) Audited Financial Results for fourth quarter and year ended 3|,03r2019r

2) Re-appointment of independent Director:

The following persons have been re-appointed as independent Director subject to the

approval of shareholders for a second term of five years up to the conclusion of the 31“

Annual General Meeting ofthe Company in the calendar year 2024,

l. Mr. Piyushchandra Vyas

2 Mn Karansinh Mahida

3. Pro£(Dr) Dipooba Devada

3) Consented for Striking off name of M/s Gokul Refoils Pte Ltd— Singapore (wholly owned

foreign subsidiary of the Company) in accordance with the provision of SingaporeCompanies Act (Chapter 50)

We are enclosing herewith the following:

o The copy of the said result along with the Auditor Report submitteo by the StatutoryAuditors of the Company

0 Declaration in terms ofRegulation 33(3)(d) ofSEBI ( LODR) Regulations, 2015

W. Mel swm :Slate Him N041, Nr. Sldallpfil Patti. $me 151. Dist. Faun, Gujml (India)Phone: 14767-222075, 220975 FBX : +91-Z767-223475 Emil :gllewhlglwp,wm

NIIdL! may Unit : JtL.N. 1119. Plot No. NearEM Fwd Pump. HPL Link Road, P. 0‘ Debmg City Centre.

RSV Bhabsmam. Haldia m - Msdanlpw - 721657 (West Bengal) Plan: 03224 252839

liflKlll.

Gokul Reloils & Solvent Ltd.Corporate Olfioe:

'Gokul House", 43 Shresmall Oo-op. Housing Socimy Ltd

Opp. Shlkhar Building. Nawangpura.Ahmedabadaao m9. Gujarsl (India)Ph. : +91—79-55304555, 66615253154155Fa 91—79—663m543 Emlil : gumokulgmpsom

CIN : L1 51 “GMWZFLCM £745

- The brief Profile of the aforesaid Independent Directors along with other details.

You are requested to take the above on record.

Thanking you,

Yours tmly,

For, kul Refuils & Solvent Limited

Vijay Kalyani

Company Secretary & Compliance Offieer

w. 01M- A Wm 25mm ng'lway N041. Nr Suhnw Pails, SHhW-GM 151. Disl. Pita", Gujalal (India)Phone: +91-2757-222075‘ 220975 Fax : \‘91-2757—223475 E-meil :gml@wlulglwp.m

Hlldll Minty UMI:J.L.N.1$9.F|0Q No. Neal Essa! PeIml Pmnp. HPLLlnk Road, P. 0. Daohog Oily Came,RS. Bhuhanlw, Haldia Puma - Medanipur-7Z1657 [Wssl Bengal) Phone : 03224 252339

M. M. THAKKAR & Co.CHARTERED ACCOUNTANTS

1, Galaxy Commercial Centre, 1St Floor, Jawahar Road, Rajkot- 360001.

Phones: (0281) 2224290 . e—mail: dmthakkar@hotmail.com

Auditor’s Report on Annual 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 THE BOARD OF DIRECTORS OF

Goan Refoils & Solvent Limited

We have audited the Standalone Annual financial results ("the statements”) of GOKUL REFOILS &

SOLVENT LIMITED (The Company) for the quarter and year ended 31‘I March, 2019 attached

herewith. 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 the fact that

the figures for last quarter ended 31“ March. 2019 and the corresponding quarter ended in the previous

year as reported in these standalone annual financial results are the balancing figures between audited

figures in respect of full financial year and the published year to date figures up to the end ofthird quarterof the relevant financial year. Also. the figures up to the end of third quarter had only been reviewed and

not subjected to audit.

These standalone annual financial results have been prepared on the basis of the Standalone annual

financial statements and reviewed quarterly standalone financial results which are the responsibility of the

company‘s management. Our responsibility is to express an opinion on these standalone annual financial

results based on our audit of the Standalone annual financial statements, which have been prepared in

accordance with the recognition and measurement principles laid down in Companies (Indian AccountingStandard) Rules.2015 under Section 133 ofthe Companies Act. 2013 read with relevant rules issued there

under; or by the Institute of Chartered Accountants of India. as applicable and other accounting principles

generally accepted in India

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

standalone annual financial results are free ofmat'erial misstatement(s) An audit includes examining, on a

test basis. evidence supporting the amounts disclosed as standalone financial results An audit also

includes assess' g the accounting principles used and significant estimates made by management. We

believe that out audit provides a reasonable basis for our opinion.

In our opinion and to the best of our information and according to the explanations given to us these

standalone financial results:

I. are presented in accordance widt the requirements of Regulation 33 of the SEBI (Listing

Obligations and Disclosure Requirements) Regulations, 2015 in this regard; and

ii. give a true and fair view ofthe net profit, other comprehensive Income and other financial

information for the year ended 31Sl March, 2019

For. M, M, Thakkar & Co.

Chartered Accountants

F im'I Registration Nd‘: ILIQQOSW

'JD. M. Thakkar

Partner

Rajkot. 27‘“ Ma).2019‘»

.

I

'7

:i' Membership No.:103762

M. M. THAKKAR & Co.CHARTERED ACCOUNTANTS

1, Galaxy Commercial Centre, 1St Floor, Jawahar Road, Rajkot- 360001.

Phones: (0281) 2224290 . e—mail: dmthakkar@hotmail.com

Auditor’s Report on Annual 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 THE BOARD OF DIRECTORS OF

Goan Refoils & Solvent Limited

We have audited the Standalone Annual financial results ("the statements”) of GOKUL REFOILS &

SOLVENT LIMITED (The Company) for the quarter and year ended 31‘I March, 2019 attached

herewith. 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 the fact that

the figures for last quarter ended 31“ March. 2019 and the corresponding quarter ended in the previous

year as reported in these standalone annual financial results are the balancing figures between audited

figures in respect of full financial year and the published year to date figures up to the end ofthird quarterof the relevant financial year. Also. the figures up to the end of third quarter had only been reviewed and

not subjected to audit.

These standalone annual financial results have been prepared on the basis of the Standalone annual

financial statements and reviewed quarterly standalone financial results which are the responsibility of the

company‘s management. Our responsibility is to express an opinion on these standalone annual financial

results based on our audit of the Standalone annual financial statements, which have been prepared in

accordance with the recognition and measurement principles laid down in Companies (Indian AccountingStandard) Rules.2015 under Section 133 ofthe Companies Act. 2013 read with relevant rules issued there

under; or by the Institute of Chartered Accountants of India. as applicable and other accounting principles

generally accepted in India

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

standalone annual financial results are free ofmat'erial misstatement(s) An audit includes examining, on a

test basis. evidence supporting the amounts disclosed as standalone financial results An audit also

includes assess' g the accounting principles used and significant estimates made by management. We

believe that out audit provides a reasonable basis for our opinion.

In our opinion and to the best of our information and according to the explanations given to us these

standalone financial results:

I. are presented in accordance widt the requirements of Regulation 33 of the SEBI (Listing

Obligations and Disclosure Requirements) Regulations, 2015 in this regard; and

ii. give a true and fair view ofthe net profit, other comprehensive Income and other financial

information for the year ended 31Sl March, 2019

For. M, M, Thakkar & Co.

Chartered Accountants

F im'I Registration Nd‘: ILIQQOSW

'JD. M. Thakkar

Partner

Rajkot. 27‘“ Ma).2019‘»

.

I

'7

:i' Membership No.:103762

M. M. THAKKAR & co.CHARTERED ACCOUNTANTS

1, Galaxy Commercial Centre. 15‘ Floor, Jawahar Road, Rajkot- 360001.

Phones: (0281) 2224290 - e-mail: dmthakkar@hotmail.com

Auditor's Report on the audit of the consolidated annual financial results of the group with the last quarterfinancial results being balancing figures Pursuant to the Regulation 33 of the SEBI (Listing Obligationsand Disclosure Requirements) Regulations, 2015

TO THE BOARD OF DIRECTORS OF

Gokul Refoils & Solvent Limited

1. We have audited the Consolidated Annual financial results ("the statement”) of GOKUL REFOILS &

SOLVENT LIMITED (The Company). its subsidiaries (collective referred to as the ‘Group’) and its

associate for the year ended 31“ March. 2019 attached herewith, being submitted by the company

pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations. 2015.

2. These Consolidated annual financial results have been prepared on the basis of the consolidated annual

financial statements which is the responsibility of the company’s management. Our responsibility is to

express an opinion on these Consolidated annual financial results based on our audit of the Consolidated

animal financial statements, which have been prepared in accordance with the recognition and

measurement principles laid down in Companies (Indian Accounting Standard) Rules.2015 under Section

133 of the Companies Act. 2013 read with relevant rules issued there under; or by the Institute of

Chartered Accountants of India. as applicable and other accounting principles generally accepted in India.

3. 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

consolidated annual financial results are free of material misstatement(s). An audit includes examining,on a test basis. evidence supporting the amounts disclosed as consolidated 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.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures

in the Statement. The procedures selected depend on the auditor’sjudgment. including the assessment of

the risks of material misstatement of the Statement, whether due to fraud or error. In making those risk

assessments, the auditor considers internal control relevant to the Parent’s preparation and fair

presentation of the Statement in order to design audit procedures that are appropriate in the circumstances,but not for the purpose of expressing an opinion on the Parent’s internal financial control with reference

to the Statement. An audit also includes evaluating the appropriateness of the accounting policies used

and the reasonableness of the accounting estimates made by the Management, as well as evaluating the

overall presentation of the Statement. We believe that our audit provides a reasonable basis for our

opinion.

M. M. THAKKAR & CO.

CHARTERED ACCOUNTANTS

1. Galaxy Commercial Centre. 15‘ Floor, Jawahar Road, Rajkot- 360001.

Phones: (0281) 2224290 - e-mail:MW

4. The Statement includes the results ofthe following entities:

a. the Subsidiaries:

l. Gokul Agri International Ltd.

2. Professional Commodities Private (step down subsidiary)3. Gokul Refoils Pte Ltd. Singapore

b. the associate:

l. Gujarat Gokul Power Ltd.

5. (a) We did not audit the financial statements / financial infomation of 2 subsidiaries included in the

consolidated annual financial results. whose annual financial statements / financial information reflect

total assets of Rs. 44302.06 lakhs as at Slst March, 2019. total revenues of Rs.219799.44 lakhs, total net

profit / (loss) after tax of Rs.915.78 lakhs, total comprehensive income/ loss of Rs.18.62 lakhs and cash

out flows (not) of Rs.(31 1.1 1) lakhs, for the year ended on mat date, as considered in the consolidated

financial results.

The consolidated annual financial results also include the Group’ 5 share of net profit/loss of Rs. Nil and

total comprehensive income/ loss of Rs. Nil for the year ended 3lst March 2019In respect of 1 associate

whose financial statements / financial information have not been audited by us. These annual financial

statements or financial information have been audited by other auditors whose reports have been

fumished to us by the Management and our opinion on the consolidated financial results, in so far as it

relates to the amounts and disclosures included in respect of these 2 subsidiaries and i associate is based

solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3

above.

(b) The consolidated financial results includes the unaudited financial statements/ financial information

of l subsidiary located in Singapore whose financial statements / financial information reflect total assets

of Rs.20.88 lakhs as at 3lst March. 2019, total revenue of Rs.Nil, total net profit/(loss) after tax of Rs.

(560) lakhs.total comprehensive income/ loss ofRs.Nil and cash out flows (net) ofRs. (29.09) lakhs for

the year ended on that date. as considered in the consolidated financial results. These financial statements/

financial information as furnished to us are unaudited and have been prepared by the Company’sManagement in accordance with accounting principles generally accepted in Singapore Our opinion on

the Statement. in so far as it relates to the amounts and disclosures includedIn respect of this subsidiary, ,

is based solely on such unaudited financial statements/financial information in our opinion and accordingto the information and c\planations given to us by the Management these financial statements / financialinformation are not material to the Group.

Our opinion on the Statement is not modified in respect of the above matters with respect to our relianceon work done and the report of other auditors and the financial statements certified by the Management.

M. M. THAKKAR & CO.

CHARTERED ACCOUNTANTS

1. Galaxy Commercial Centre, 15‘ Floor, Jawahar Road. Rajkot— 360001.

Phones: (0281) 2224290 - e-mail: dmmakkar@hotmail.oom

6. In our opinion and to the best of our information and according to the explanations given to us

and based on consideration of reports of other auditors on separate financial statements of the

subsidiaries and associate as aforesaid. these consolidated annual financial results:

(i) Include the annual financial results of the entities mentioned in para 4 above;

(ii) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing

Obligations and Disclosure Requirements) Regulations. 2015 in this regard; and

(iii) give a true and fair view of the net consolidated profit and other comprehensive Income and

other financial information for the year ended 31‘I March, 2019.

For, M. M, Thakkar & Co.

Chartered Accountants

Firm Registration 110;]10905W

/

< l'

.

7/4

D. M. Thakkar

Partner

Rajkot. 27'" May. 2019 Membership No.:103762

Gnkul Beloils & Solvent le.Corpolam Ofice :

‘Gokul House' 43 Shleemall Coop. sti Soci Ltd.

Opp. Shikhal Building, Navlangpula,"9 my

Ahmsdsbad-aso one. Gujarsi (India)

a 0 K "I.Ph. +91-7S—66304555. 65615253154155

Fax +91-79-65304543 Ema-l gnlegokulgmuymm

cm : L1514264199mco1a145

GOKLIL REFOILS AND SOLVE?" LIMII’ED

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Plat: AMMdahadF01 60ml WI! I Solvent “mind

Dam 27/05/101! Au v - 7 kIalvinulnh L la'pm

m'. l .

Ill I M: Dllmr

Phone .+9I-2767-222075. 220975 Fax: +9l-2767-223475 E-mal'l : mnlwnllpmm

Hilda Mmry Unh:J.L.N.149.Pkn Nu. Neal Essa Penal Pump. HPL um Road P. 0. Demon any new:

as. annbmipur. Ham Pllrba - Mommy . 721657 (W251 Bengal) Phone : 03224 252339

'

Gokul Beioils & Solvent Lid.Cmale Olnoe:

Gokul House, 43 snrsemali Co-op. Housing Society Ltd.

0le ShikharBuilding, NevrengpuraAhmedabad330 009. Guiaret (India)Ph. : +91-7966304555, 66615253154155

6 0 K I] I. Fax : +91—79-66304543 Ema" : gnmokulurouommCIN : L15142GJ1992PLC01B745

Gakul Refoils at Solvent Limited

statement of A5505“ and Llabllllles

Standalone Consolidated

penlsulars Aset31-03-2019 As-t31-03—2013 Asat31413~2019 “213103-2013

Audited Audited Audited Audited

1 ASSEYS

non-current assets

(:1 Property, plant and equipment 33.63 93.17 6,737.71 6,333.97

(b) Capital work-in-progress 55.54 47.00 255.46 470.69

(1:) intangibles 6.76 10.14 12.02 15.11

(0) FlnanclalAsseu

(i) Investments

3) investments in Subsidiaries and

Associates 3,616.54 3,643.39 400.00 400.00

6) Other investments 0.95 0.95 1.52 1.51

0' Loan 2,973.62 2,662.52 1,333.75 1,649.69

(iii) etherFinanciai Assets 6.62 6.62 73.26 71.31

(e) Deferredtax assetsmet) 740.52 793.57 699.96 315.65

in othermn-CurrentAssets 119.10 35.05 159.13 307.09

12,607.34 12,357.92 10,272.32 10,570.00

current essets

(a) inventories 0.23 0.00 14,069.59 19,544.36

(b) tinanclalassets

(I) investments 3,703.62 3,092.73 3,314.03 3,192.73

(ii) Tradereceivables‘

2.71 629.59 10,433.19 9,325.99

(ill) Cash and Cash Equivalents 12.40 312.90 1,359.46 1,937.22

(iv) otherBankhalance 5.43 1,311.99 4,472.64 5,553.44

(0) Loans 1,210.30 1,237.43 1,700.31 1,420.31

(vii OthersFlnandalAssets 69.37 71.49 1,324.71 471.43

(1:) Dthercurrentassets-

9,063.09 3,533.23 13,145.51 12,393.74

14,072.71 15,244.36 50,394.49 53,344.20

Total Assets 26,630.05 27.60223 60,667.91 63,914.23

2 600ml AND ”ABILITIES

:Qurrv

(a) Equityshare capital 2,637.90 2,637.90 2,637.90 2,637.90

(0) etherequitv 22,391.34 22,122.34 25,906.56 24,676.41

Total equity 25,029.24 24,760.24 23,544.46 27,314.31

”ABILITIES

Non—surrentiiaiu es

(3) Financial liabilities

(b) Provisions 24.46 34.15 75.95 101.91

in) Deterredraxliabillties(Net) - .3 .

24.46 94.15 75.95 101.91

Oment liabilities

(a) Financial llabllltles

(i) Borrowings ,- 26,288.57 30,333.01

(ii) Trade payabies 293.41 1,204.49 2,593.57 3,462.67

llil) DtherFlnanciaHiabililies 0.95 1.09 0.95 1.09

in) omercurrent liabilities 1,265.35 1,173.77 2,362.31 1,532.70

(c) Provisions 23.23 24.76 33.37 60.63

[0) Curreanax Liabilitiesmeti 33.39 393.73 212.13 507.97

1,626.34 2,307.39 32,046.90 36,49307Total tiabi 1,650.30 2,342.04 32,122.35 36,599.93

Total Equlwand Uabllltles 26,630.05 27,602.23 60,667.31 63,914.29

Plate: Ahmedahad For Gnkul Relolls & Solvent Limited

: 052019Date 27/ l

“m c K

salvanmnit c Ralpul

Chairman 3. Managing Dlrectnr

Md (mice 333m: state Highway No41,llr. 51$me 0033415100 Patten, Gujaalflndliz)Pime: +912707222075 220975 Fax: +912707-223475 E-mil: grslggokulgmocom

MINI Milly Uni! LN. 149, PM No. Neal Essa! Pe’lml Fully. HPL Lilk Rnad, P. 0. M7109 Ciiy Dem,RS. Bhaballiptfl, Hm Hm - Medalirlur-111657 [W001 Bellwl) ”1000:0324 252839

Gokul Retails & Solvent Ltd.Cot-petite Ofice ;

‘Gnkul House'. «4 sum“ Co-op. Housing Society Ltd.

Opp. Shikhal Building, Navvangpula,Ahmsdabsd-GED 0091 Gujarat (India)Ph. : +91-79—663M555. 36515253154155

E 0 K II I. Fax ; +91-7955304543 Email : gnlggokuigmumom

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DECLARATION

Under Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015 and SEE] Circular No CIR/CFD/CMD/56/2016 dated May 27. 2016

I. Balvantsinh C. Rajput (DIN — 00315565), Chairman and Managing Director of the Company.

hereby declare that the Statement of Standalone and Consolidated Audited Financial Statements

for the year ended March 31, 2019 does not contain any qualification or modification byAuditors of the Company.

Date:27.05.2019

Place: Ahmedabad

Ba]

Chairman and Managing Director

ma. mamas: StateHiwmay N041 Nr Slflwwpflfifi smwaaust. m Patsn Gujaratflndia)Puma. muzmmovs 2209mm. m-zvmzwssmt 9 .com

India Refilllry Unit'. J.L.N. 149, Plot No. Near Essar Pertmt Pump. HPL Link Road, P. D. Debhog City Centre.RS. Bhabanipul. Maldia Hubs - Medaflipuv- 721657 (West Bowel] Phone : 05224 252839