BACK TO FUNDAMENTALS

Rallis India Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018

Auditor and Management Disclosures and Notes for the quarterly results dated 31 Dec 2018

1 The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 17th January, 2019. The statutory auditors have expressed an unqualified review opinion.

2 Financial results for all the periods presented have been prepared in accordance with the recognition andmeasurement principles of lnd AS notified under the Companies {lndian Accounting Standards) Rules,2015 as amended from time to time.

3 The Company's business is seasonal in nature and the performance can be impacted by weather conditions and cropping pattern.

4 The Company has one reportable business segment viz. "Agri - Inputs".

5 The Board of Directors of the Company has accorded its consent to the merger of Metahelix Life Sciences Ltd (a wholiy owned subsidiary of the Company) with the Company under a Scheme of Amalgamation subject to necessary statutory approvals from various regulatory authorities.

6 The Board of Directors has approved the proposal to voluntarily file an application with the Registrar of Companies for removal of the name of Rallis Chemistry Exports Limited, a non-operational wholly owned subsidiary of the Company which has no intention to carry on any business, subject to necessary regulatory and other approvals.

7 The Board of Directors of the Company has accorded its consent to the merger of Zero Waste Agro Organics Limited (a wholly owned subsidiary of the Company) with the Company under a Scheme of Amalgamation subject to necessary statutory approvals from various regulatory authorities.The Scheme is currently pending approval of the National Company Law Tribunal (NCLT).

8 Effective 1st April, 2018, the company has adopted lnd AS 115 'Revenue from contracts with customers'. Based on the assessment done by the management, there is no material impact on the revenue recognised during the period.

9(a) Consequent to clarifications published by the lnstitute of Chartered Accountants of lndia (lCAl), the amount of export incentive has been recognised as "other lncome" with effect from July 2018. ln earlier periods these amounts were reported under "Other Operating Revenue" in the Statement of Profit and Loss. This has no impact on reported Profit Before Tax (PBT).

(b) The MCA wide notification dated 11 october, 2018 has amended Schedule lll to the companies Act, 2013 in respect of certain disclosures. The company has incorporated appropriate changes in the above results.

10 The results of the Company are available for investors at www.rallis.co.in, www.nseindia.com and

www.bseindia.com.