Jindal Stainless (Hisar) 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 standalone financial results of the company for the quarter and nine months ended 31st December 2018 have been reviewed by tire audit committee and approved by the board of directors at their respective meetings held on 30th January 2019 and the limited review of the same has been carried out by the auditors.

2. These results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act 2013 and other recognized accounting practices and policies to tire extent applicable.

3. Exceptional items represent net foreign exchange gain/(Joss) for all period presented.

4. As the company's business activity falls within a single operating segment viz, 'Stainless Steel', the disclosure requirement of Accounting Standard (Ind AS 108) on "Operating Segments" is not applicable.

5. In compliance with bid AS-18 (which was applicable for the year ended 31st March 2018) and SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, the reported revenue for the period upto 30th June 2017 is inclusive of Excise duty. Goods and Service tax (GST) is made applicable w.e.f. 1st July 2017 and as per Ind AS-115 (previous periods hid AS-18), revenue for subsequent period is net of GST, hence revenue from operation for the nine months ended 31st December 2018 is not comparable villi corresponding nine months ended 31st December 2017.

6. Figures of the previous periods have been regrouped / recast / reclassified wherever considered necessary.

Jagmohan Sood
Whole time Director