Styrenix Performance Materials Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2019

Notes:

1. The above statements were reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on May 16, 2019. The audit report does not contain any qualification by the statutory auditors.

2. Revenue from operations for period up to June 30, 2017 include excise duty, which is discontinued effective from July 01, 2017 upon implementation of Goods and Services Tax (GST) in India. In accordance with the applicable Accounting Standard. GST is not included in revenue from operations. In View of the aforesaid restructuring of indirect taxes. revenue from operations for the year ended March 31, 2019 is not comparable with previous year.

3. The Company continued to suffer inventory losses during current quarter as well with the sharp fall in prices of Styrene Monomer (SM) being its main raw material, SM prices fell from a high of US$ 1450 PMT in August 2018 to US$ 950 PMT by end of November 2018 (Source : ICIS—LOR).

4. The figures for the last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the respective financial year.

5. Effective April 1, 2016, the Company has adopted Ind AS 115 » "Revenue from Contracts with Customers" with modified retrospective approach. Adoption of the standard did not have any significant impact on the financial statements of the Company.

6. The Board of Directors recommended a dividend of INR 2 per share [ @ 20 %] for the period ended March 31,2019 subject to approval of the Shareholders.