BLB Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2018

Notes :

1) The above audited financial results were reviewed by the Audit Committee and thereafter by the Board of Directors at their respective meetings held on 30th May, 2018. The Company confirms that its statutory Auditors M/s R K Ahuja & Co. have issued audit report with unmodified opinion on the Financial Results.

2) The Financial Results of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 as amended by the Companies (Indian Accounting Standards) (Amendment) Rules, 2016. The Company has adopted Ind AS from 1st April, 2017, with a transition date of 1st April, 2016 and accordingly these results (including for quarter and year ended 31st March, 2017, presented in accordance with Ind AS 101 requirement of Ind AS.

3) The format for audited / unaudited annual/quarterly results as prescribed vide SEBI circular dated 5th July, 2016 and Schedule III (Division II) to the Companies Act, 2013 applicable to companies that are required to comply with Ind AS.

4) The figures for the quarter ended 31st March, 2018 and 31st March, 2017 are the balancing figures between audited figures in respect of the full financial year ended 31st March, 2018 and 31st March, 2017 respectively and the unaudited published year to date figures upto 31st December, 2017 and 31st December, 2016 respectively, being the end of the third quarter of the respective financial year, which were subjected to limited review computation of other comprehensive Income/ Loss pursuant to reinstatement of quoted Equity Investment at fair irrevocably designated through Other Comprehensive Income and the impact of Income Tax on the same has been provided for the full financial year 2017-18 and 2016-2017.

5) During the year company has received 60,000 equity shares of Indian Oil Corporation Ltd. on stock-in-hand as bonus shares. The same has been retained by company as Short-term investment at nil value. Subsequently, the Company has measured the same at fair value, with unrealised gain arising from changes in the fair value and recognised in comprehensive income.

6) The Board of Directors in their meeting held on 14th December, 2017 had adopted the Scheme of Arrangement involving Amalgamation of its four wholly owned subsidiaries namely, BLB Commodities Limited, BLB Global Business Limited, Caprise Commodities Limited and Sri Sharadamba Properties Limited with the Company.

7) The Company does not have more than one reportable segment in the line with IND-AS - 108-"Operating segment".

8) The reconciliation of Other Equity and Profit & Loss after tax reported under IND- AS and previuos GAAP (IGAAP) is annexed herewith.

9) Figures for the previous quarter/period have been regrouped/rearranged wherever necessary.