Transformers & Rectifiers (India) Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2019

1. The Audited Financial Results for the quarter and financial year ended 31st March 2019 have been reviewed and recommended by the Audit Committee, taken on record and subsequently approved by the Board of Directors in their respective meetings held on 27th May 2019. The statutory auditors have audited the financial results for the year ended 31st March 2019 as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended.

2. In terms of SEBI Circular CIR/CFD/CMD/56/2016 dated 27th May 2016, the Company declares that the Statutory auditors have issued audit report with an unmodified opinion on the annual audited financial results of the company for the year ended 31st March 2019.

3. The operations of the Group are limited to one segment, namely Manufacturing of Transformers and its components.

4. The figures for the quarter ended 31st March, 2019 are the balancing figures between audited figures in respect of the full financial year ended 31st March, 2019 and the
reviewed year-to- date figures upto the third quarter of the financial year.

5. With effect from 1st April, 2018, the Company has adopted Ind AS 115 'Revenue from Contracts with Customers’ and has opted to apply the modified retrospective approach and accordingly, it is applied retrospectively only to contracts that are not completed at the date of initial application and the comparative information is not restated. The adoption of Ind AS 115 did not have any material impact on the financial results for the quarter/year ended 31st March, 2019.

6. After applicability of Goods and Service Tax (GST) w.e.f. 1st July 2017, sales are required to be disclosed net of GST. Accordingly, the figures of revenue from operations
for the year ended 31st March 2019 are not comparable with the corresponding year ended 31st March 2018.

7. Figures of corresponding previous year/period(s) have been re-grouped/ re-arranged wherever necessary, to make them comparable.