BACK TO FUNDAMENTALS

Delphi World Money Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018

Auditor and Management Disclosures and Notes for the quarterly results dated 31 Dec 2018

1. The Statement of standalone unaudited financial results for the quarter ended 315t December, 2018 have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 2nd February, 2019. The Statutory Auditors have conducted a 'Limited Review‘ of these results in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

2. These financial results have been prepared in accordance with Indian Accounting Standards (lnd AS) as notified by Ministry of Corporate Affairs pursuant to Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015, as amended.

3. The Company had adopted Ind AS from financial year 2017-18 and gave effect to the applicable standards in quarter ended 315t March, 2018 only, Consequently, the effect of Ind AS was not given for nine months ended 315t December, 2017 published in financial year 2017-18. However, the said effect has been given in the above Statement and to this extent the figures under other Comprehensive Income in quarter and nine months ended 3lst December, 2017 is not comparable with that of the published results for quarter and nine months ended 315t December, 2017.

4. The Company has adopted Ind AS 115. Revenue from Contracts with Customers which is mandatory for reporting period beginning on or after 1st April, 2018. Adoption of this Standard did not have any material impact on the financial results or the Company.

5. During the quarter ended 3lst December, 2018, the Company has completed the buyback of 436,467 fully paid-up Equity shares of face value Rs. 10 each ("equity shares”) representing 3.77 % of the total paid-up equity share capital of the Company, at a price of Rs. 702 per equity share for an aggregate consideration of a 3,064.00 lakhs. In line with
the requirement of the Companies Act, 2013 an amount of Rs. 3,064.00 lakhs has been utilized from General Reserve. The shares accepted under the buyback have been extinguished on 2nd November, 2018 and the paid-up equity share capital of the Company has been reduced to that extent. Subsequent to completion of the buyback the Company has transferred Rs. 43.65 lakhs to the Capital Redemption Reserve representing face value of equity shares bought back.

6 During the quarter ended 30th September, 2018. the Company has divested its holdings in certain associate and other companies and the net gains thereof at Rs. 2.465 30 lakh have been included in Other Income. Consequently the gain arising on adoption of fair value to measure the Company's investment in Equity instruments (other than associates)
as stated in Ind As 109. Financial Instruments and included in the Other comprehensive income to the extent of Rs 4,660.24 lakhs is reversed.

7. During the quarter ended 30th September, 2018. the Company has sold its Wind Farm in the State of Tamil Nadu and the loss arising thereof at Rs 503.91 Lakhs has been included in Other Expenses. Since, the Company has identical capacity Wind Farm in the State of Maharashtra, it has provided for impairment in value of the said Wind Farm under same
basis of market price or sale of Wind Farm enacted and the provision for impairment at Rs. 484.73 lakh is also included in Other Expenses.

8. The Promoter/ Promoter Group has agreed to divest it's holdings of 8,328,540 equity shares representing 74.84% through the Share Purchase Agreement dated 315t December, 2018 entered into with EbixCash World Money Limited (Acquirer) Subsequent to that, the Acquirer company has issued Open Offer dated 31st December, 2018 for acquiring 2,799,350 equity shares representing 25.16% of the Share Capital at Rs. 528 per share.

9. Current tax expense for quarter ended and nine months ended 31st December, 2018 includes prior period tax adjustments of Rs 113.59 lakhs; (3lst March, 2018 Rs Nil).

10. Figures for the previous periods/year have been regrouped, wherever necessary.

D G Siraj
Chairman