Duncan Engineering 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 company's business activity falls within a single primary business segment viz "General Engineering Products".

2. The above results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meeting held on January 24, 2019. Limited review of these results has been carried out by the Auditors. However, the management has exercised necessary due diligence to ensure that the financial results provide a true and fair view of its affairs.

3. Consequent to the introduction of Goods and Service Tax Act (GST) w.e.f. 1st July 2017, Central Excise, Value Added Tax (VAT), etc have been subsumed into GST. In accordance with Indian Accounting Standard -115 on Revenue and Schedule III of the Companies Act, 2013, unlike Excise duties, levies like GST, VAT, etc are not part of Revenue. Accordingly, the Revenue figures for the periods upto December 30,2017 and year ended 31st March 2018 which are inclusive of Excise Duty are not comparable to those for the other periods which are exclusive of GST .

4. Previous period's figures have been regrouped wherever necessary.

Akshat Goenka
Managing Director