Modison Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2022

The above audited standalone financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 24th May, 2022.

2.Exceptional Item for the period(s) represents profit/(loss) on Hedging of Silver in stock as raw material of the company.

3As the Company's business activity falls within a single Primary segment viz. : "Manufacturing of Electrical Contacts" the disclosure requirement of Indian Accounting Standard (IND AS-108) " Segment Reporting" is not applicable.

4The amount of current tax includes tax adjustment of earlier years amounting to Rs Nil for the year ended March 2022 (March 2021 (-)Rs 30.57 lakhs)

5. The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from stakeholders which are under active consideration by the Ministry. The Company will assess the impact and its evaluation once the subject rules are notified and will give appropriate impact in its financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.

6.The Company has considered the possible effects that may arise out of the still unfolding COVID-19 pandemic on the carrying amounts of property, plant & equipment, intangible assets, investments, inventories, trade receivables, etc. For this purpose, the Company has considered internal and external sources of information up to the date of approval of the Standalone Financial Results including credit reports and related information, economic forecasts, market value of certain investments etc. Based on the current estimates, the Company does not expect any significant impact on such carrying values. The impact of COVID-19 on the Company’s financial results may differ from that estimated as at the date of approval of Standalone Financial Results.

7 For Cash Flow Statement, refer Annexure 1

The figures for quarter ended March 31, 2022 and March 31, 2021 are balancing figures between the audited figures of the full financial year and the reviewed year-to-date figures up to the third quarter of the relevant financial year.

9.Corresponding figures of the previous year's/quarter's/period's have been regrouped, recasted and reclassified to conform to the current period presentations.