Modern Shares & Stock Brokers 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 financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on January 30, 2019. The Statutory Auditor; have conducted a 'Limited Review1 of the above financial results.

2. Income from operations include income from trading in securities, which is net of increase/(decrease) in stock-for the quarter ended December 31, 2018 (Rs.3,52 Lacs) (corresponding previous quarter Rs.28.10 Lacs), nine months ended December 31,2018(Rs.5.87 Lacs), (corresponding previous nine months ended Rs.23.71 Lacs),[previous year ended March 31,2018 (Rs.l2.00 Lakhs)].

3. The Segment wise Revenue, Results and Assets & Liabilities figures relate to the respective amounts identifiable to each segments, Most of the expenses, assets & liabilities relate to the enterprise as a whole and are shown as unallocated. The Company is engaged in the business of sharebroking and is also involved in proprietary trading.

4. With respect to the suit filed against Bata India Limited, the Company got the Order from Court of Small Causes at Bombay for possession of the shop and fixing of manse profit is pending before the Appeal Bench. The management expects a favourable Order.

5. Previous period figures have been regrouped and/or re-classified wherever necessary to conform to this period's classifications.

Narendra H Advani

Anil Sugno Manghnani
Whole Time Director