7 = aun . ml sa us| dl sor|__auuan) | a a a ab ayigKESORAM MOUSTRIES NITED Rega. Otis at, RM Mukherjee Roa, Kohat - 700001 ‘Statement fsuied rani! est for the quarter and yer ande 3st March, 2016 (proved by tha Boar ot Drectore on 19 Seber, 206 sar view tarot bythe Aud Cmte) ‘Statement of Seomet Revere, Reauts ana Capital Eneloyes eserore ‘arvet | —Preanoing | Previous Your | Your to date Thre ‘ree | conesponding | _‘fguretor” | Previous mone morte | eement | curt period | Your ony ‘aed "sed "ended onde Py Partctae sinanors | atazoe | stmanore | anmamors | atmuore unavsnesy | _unauanes) | qunausnesy | _ruates) | (rvs + foeoment Reve | 2 fone sass so rma 24s nova32 » foaman sos moat wnt ores 70208 © |rajn, 1. en Choma no srs sn00 550 2002 Senta Sapment Raver st ost) A 2 4 f Net Seine tom Gombe. Taw Tie Te 7 sae cso cos ers0] rose] 0 © |Pajon 7. ans Chama 20] (soa os75] ero] 045] 4 |onaocnns| 7 30 ox 20 uw oat assy wr} S27} Tens) e538 | Wire ss00 soe sora score coos ler ur-atcade expanctre are aa BH Ta am [pe ata ncane 30 eon 28 ss05 2568 {omer sn oes eure et othe [ratmcase neon or] see 20 sas] oe rat tess bt ts aa aw ros} a oe santos 297830 az0e80 varies 20080 ssera sors 961 srs ses © [rayon 7. ansCremeae to891 tan ror ast ror) Les ot sm siiee| saa Page sors we kKESORAM INDUSTRIES LIMITED Statement of audited financial results forthe quarter and year ended 31st March, 2015, (Approved by the Board of Directors on 19th October, 2015 after reviow thereof by the Ault Committoe ) 41 The Company's Spun Pipes and Foundries Unit continues to be under suspension of work effective 2nd May, 2008, 2 (a) Pending disposal (consented by the shareholders in March, 2006) of the Company's Hindusthan Heavy Chemicals Uni, the revenve / expenses of the unt insignfcant in torn of the Companys total revenue / expenses) have been ‘and wit be included in these and subsequent results isposa), (by The Company had to decare auspension of work atthe unt elective 8th December, 2010 in consequence of legal strkelactvtes by workmen, 3 Statoment of Assots & Liabilities Rescrore eat] is at ticular 31.03.2005 | 31.03.2014 (Busted) | vated) (() SHAREHOLDERS FUNDS a) sare Capital soar} 10977 |b) Reserves ana Surplus -ma2| 36108 73547081 \2) NON-CURRENT LIABILITIES (a) Long-term borrowings 336462] 2.54075 (o) Deteres tax tables (Net) : Senet | 258078 \) CURRENT LiABILITIES (a) Shoreterm borrowings aasi9s| 149411 () Trage payables 363.10] 585.30 fe) Other curent ait e124] 1050.08 |) Short-term provisions eoaz| 7324 Zereso| 3701.82 lroraL. 3.178.55 | 673238 |) NON-CURRENT ASSETS. a) Fixed assets (0 Tangible assets ssies| 92r082 (ip tangible assets 571 10.49 (i) Captal worcin-progress. s4os2| 730.89 ope98 | — 3,987.94 le) Non-curent Investments 6538| 6698 (c) Long trm loans and advances esas] 897 (6) Other non-current assets 048, 032 \2) CURRENT ASSETS [Investments - (Inventories 08.13 le) Trade Recoivabies 904.00 (c) Cash and Bank Balances 728 \e) Sor-erm Loans and advances 21784 (Other curent assets 25.41 Zire HTOTAL 625238 Page 4 of 54 The Company has charged depreciation in keeping wit the requirements of Schedule I to the Companies Ac, 2013, and as a resuit the estimated useful lives of certain fxed assets have been revised with effect fom Apr 1, 2044 CConsequenty, depreciation expense forthe year is lower by Rs. 69.15 crore with corresponding impact on loss forthe year. Additonal, pursuant to the transitonal provision set out inthe said Schedule I, the carrying amount of fixed 2ssets (flr retaining the residual values) aggregating Rs. 11.07 crore, which have no remaining Useul He as on Apri 41 2014, has been charge to the Statement of Prof and Loee with coresponding mpact on loes for he year. §5 Based upon general body approvals accorded to the Company under the relevant provisions of the Companies ‘Act 2013, an Undertaking comprising ofits automotve tyre manufacturing facity at Laksar, Distict Haraway, Untarakhand was transferred as 8 going concern duing the year ended 318t March.201S to a subsidiary more tan 90% of whose Share Captal is held by the Company. Such transfer was effected through a slump sale within the ‘meaning ofthe Income Tax Act 1961, Pursuant to the execution of @ binding Term Sheet datod 12th September, 2015 as between the Company, the ‘Subsidiary andthe JK Tyre Group, it has been agreed thatthe Company wil tansfer ownership of such subsidiary to the 1 K Tyre Group at @ consideration of Rs. 2195 crores. ‘The tansacton wil stand consummated based upon a ‘mutually agreed “dosing” L@'31 Decamiber 2015 upon execution of such definitive agreements as may be agreed to by “and betwoen the partes together wih obtaining the required corporate approvals, statutory consents and completion of ‘ther complances as applicable Inthe eventvaly ofthe transactons net beng completed on o riot to Decernber 31, 206, any party may terminate this erm sheet or defindve agreement and the same shall ceaso fo have elec. {In accountng forthe transaction in its Books of account pertaining to the year 3st March, 2015 as per the binding ‘Term Sheet referred to above, the Company has crite the dference between the consideration receivable and the Carrying cost ofthe Undertaking in is books as at 31st March, 2015 amoung to Rs. 408.20 crore (net of expenses required to execute the deal {0 Exceptional Income. No Coasolidated Financial Statements for the year ended 3tst ‘Maren, 2015 have been prepared by the Company . Ths has been so done in exercise ofthe mandate given in paragraph 11(2) of Accounting Standard 21 granting a company exemption from consolidation should @ subsidiary be hel for aisposal inthe near future. 1 The results forthe querer ended 31st March, 2015 are derived figure atived a by subtracting the results forthe nine month ended 3tst December. 2014 om the auited results for the yeer ended 31st March 2018, Figures forthe comparable periods have been regrouped /e-classfied wherever considered necessary 8yOrer the Boars bs Ko. Jain Parienod Woltime Decor Ly ‘Date: 19th October, 2015 ‘GIN: L171s8W81019PL.008429| Phone: 039 7243 5453, 2242 9486, 248 0764, 2219044 | Fax 0392210 0488 mai: corporete@esram net | Website wn kesocrp.com ws Page 5 ofS