Rane Engine Valve Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018

1. The above financial results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on January 25, 2019. The Statutory auditors have carried out limited review of these financial results.

2. The Company operates only in one segment, namely, manufacture and marketing of components for the transportation industry.

3. The revenue from operations for the nine months ended December 31, 2017 and year ended March 31, 2018 are inclusive of excise duty up to the period June 30, 2017 and are therefore not comparable with the revenue from operations of other periods, which are presented net of GST consequent to introduction of Goods and Services Tax (GST) w.e.f July 1, 2017, in compliance with relevant Indian Accounting Standards.

4. The previous period figures have been re-grouped wherever necessary to conform to current period's presentation.

5. The financial results for the quarter and nine months ended December 31, 2018 are being published in the newspaper as per the format prescribed under Regulation 33 of SEBI (Listing Obligations and Disclosure requirements) Regulations, 2015. The financial results are also available on the Stock Exchange websites: www.bseindia.com and www.nseindia.com and on the company's website- www.ranegroup.com.