International Conveyors 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 above unaudited Standalone financial results for the quarter ended 31st Dec, 2018 were reviewed by the Audit Committee and thereafter, approved by the Board of Directors and was taken on record at their meetings held on 1st February, 2019.

2. The Statutory Auditors have carried out "Limited Review" of the aforesaid Standalone financial results and have expressed an unqualified opinion on the unaudited standalone financial results for the quarter ended 31st Dec, 2018.

3. Goods and Service Tax (GST) has been implemented with effect from 1st July, 2017 and therefore, Revenue from operations for the quarter and nine months ended 31st December, 2018 is net off GST. Revenue from operations and expenses for the corresponding nine months ended 31st December, 2017 and year ended 3lst March, 2018 being inclusive of excise duty are not comparable.

4. The figures of previous periods have been re-grouped wherever necessary to make them comparable with those of the current period.

R. K. Debriwala
(Managing Director)