TVS Electronics Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2017

1. The above audited financial results have been reviewed by the Audit Committee of the Board and approved by the Board of Directors at its meeting held today.

2. The Board of Directors have recommended a dividend of 50 paise per Equity Share of face value of Rs.10/- each for the financial year ended 31st March, 2017. The dividend will be paid / despatched to the shareholders within 30 days from the date of declaration by the members at the ensuing Annual General Meeting

3. The Company had earlier entered into distribution services for mobile phones. This is a large volume, large value business, with low margins. Any periodic comparison should take this into consideration.

4. Company operates in two segments namely, a) Information Technology related products and technical services and b) Distribution services; this is in line with Accounting Standard on Segment Reporting (AS 17).

5. As the net worth of the Company is less than Rs.500 Cr (net worth as on 31st March, 2014, Rs.35.51 Cr), the Company is required to comply with Ind AS for the accounting period beginning on or after 1st April, 2017 with comparatives ending on 31st March, 2017. The Company has been advised legally to this effect. Accordingly, the quarterly standalone unaudited financial results for the quarter and year ended March 31, 2017 are prepared in accordance with the existing Indian GAAP.

6. Consolidated results include results of a wholly owned subsidiary company, viz., Primary Property Holdings Limited, Chennai and its Associate Company viz., Benani Foods Pvt Ltd., Chennai.

7. Previous period figures have been regrouped wherever necessary to make them conform to current period's classification.