California Software Company 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 Unaudited Financial results for the quarter ended 31.12.18 have been reviewed by the Audit Committee and approved and taken on record by the Board of Directors of the Company at their meeting held on 05.01.2019.

2. The Statutory Auditors of the Company have carried out the limited review of the above unaudited financial results in terms of Regulation 33 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

3. CALIFORNIA SOFTWARE COMPANY LIMITED has business of software development and services as per the criteria laid down in Ind AS 108.

4. Effective 01.04.2018, the Company has adopted Ind AS 115 "Revenue from contracts with customers". Application of this standard does not have any impact on the revenue recognition and measurement.

5. Previous year/period figures have been re-grouped/re-classified to make them comparable to the current period presentation.

6. The Operations of the company primarily relates to one business segment namely Software Development, hence the results are reported under one segment as per IND AS 108- Operations Segments