GSB Finance 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 results for the quarter and nine months ended 31st December, 2018, have been reviewed by the Audit Committee, approved by the Board of Directors at their meeting held on 29th January, 2019 and have been subjected to limited review by the Statutory Auditors

2. The company has adopted Indian Accounting Standard (Ind AS) effective from 1st April, 2018 (Transition date being 1st April 2017) and accordingly the financial results for the quarter and nine months ended 31st December 2018 have been prepared in accordance with the recognition and measurement principles laid down in Ind AS-34 Interim Financial Reporting prescribed under section 133 of the Companies Act 2013

3. The statement does not include IND-AS compliant results for the previous year ended 31st March, 2018 as the same is not mandatory as per SEBI's circular dated 5th July 2016

4. The results for the quarter and nine months ended 31st December, 2017 are Ind AS compliant, have not been subjected to limited review or audit but the management has exercised necessary due diligence to ensure that financial result provide true and fair view of its affairs

5. Consequent to transition from previous India GAAP to Ind AS, the reconciliation of total comprehensive income is provided as below for previous period presented in accordance with paragraph 32 of Ind AS 101 - First time adoption of Ind AS (For Table, kindly refer Corporate Announcements on

6. Previous period's figures have been regrouped / reclassified, rearranged where necessary, to compare with the current period's figures classification

Ramakant S Biyani
Managing Director