Walchandnagar Industries Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2021

1. The above financial results have been prepared in accordance with Indian Accounting Satandard as prescribed under Section 133 of the the Companies Act, 2013 read wth Rule 3 of the Companies (Indian Accounting Standard) Amedmendt Rule, 2016.

2. The above Financial Results have been reviewed by the Audit Committee and thereafter approved and taken on record by the Board of Directors at its meeting held on 10 February, 2022

3. The company is engaged in segments namely Heavy Engineering, Foundry and Machine shop and Others. These segments have been reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker.

4. Inventory includes work in progress of Rs. 2194.21 Lakhs in respect of orders which have been cancelled / put on hold. The Company is of the opinion that no provision is required to be made as on December 31, 2021 as this stock will be either liquidated or diverted to other projects.

5. Loan instalment due towards KKR India Financial Services Private Limited (Corporate Loan) Rs. 1,914.57 Lacs and KKR India Debt Opportunity Fund II (NCD) Rs. 684.01 Lacs totalling to Rs. 2,598.58 Lacs remain unpaid as on 31st March 2021. Since this default has not been made good by WIL, KKR has invoked security 95,09,918 No. of shares pledged with them in the month of July 2021 to December 2021. Interest on KKR India Financial Services Private Limited (Corporate Loan) and KKR India Debt Opportunity Fund II (NCD) for the year to date ended on 31st December, 2021 is due but not paid amounting to Rs. 1363.19 Lakhs (Rs. 428.43 Lakhs for Q1 and Rs. 492.38 Lakhs for Q2 and Rs. 442.38 Lakhs for Q3 of FY 2021-22). Total default of loan and interest as on 31st December, 2021 is Rs. 3,961.77 Lakhs.

6. Profit of Q2-F.Y. 2021-22 includes Rs.1589 lakh towards profit on Sale of property situated at Walchand House, Karve Road Pune.

7.Figures for the previous periods have been regrouped/reclassified where necessary, to confirm to the current period classification.