Ultramarine & Pigments 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 unaudited financial results ("the Statements") of the Company for the quarter ended 31st December 2018 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held on 5th February, 2019. The above Statements have been subjected to limited review by the statutory auditors of the Company. The reports of the statutory auditors are unqualified. The Statements have been prepared in accordance with Indian Accounting Standards ('Ind AS') prescribed under section 133 of the Companies Act, 2013 and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

2. In accordance with the requirements of Ind AS 18, Revenue from Operations for the quarter ended 31st December 2018 is shown net of Goods and Service Tax (GST). Revenue from Operations for the nine months ended 31st December, 2017 and year ended March 31, 2018 includes excise duty which is discontinued effective from July 01 2017 upon implementation of GST. In view of this Revenue from operation for the nine months ended 31st December, 2018 are not comparable with previous periods.

Particulars (Rs. in Lakhs)

Revenue excluding excise duty

Quarter ended December 31, 2018 8,270

Quarter ended September 30, 2018 7,479

Quarter ended December 31, 2017 7,604

Period ended December 31, 2018 23,388

Period ended December 31, 2017 20,458

Year ended 31st March, 2018 27,736

3. Prior period / year figures have been reclassified wherever required to conform to the classification of the current period / year.