SPEL Semiconductor Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2017

a. The above standalone results were reviewed by the Audit Committee and then approved by the Board of Directors at the meeting held on May 30, 2017.

b. Finance cost includes reversal of interest of Rs 91.24 Lakhs during the quarter and year ended March 31,2017and reversal of interest of Rs 1,21.68 Lakhs during the year ended March 31,2016 which is based on an understanding with the lender during the said periods.

1. During the quarter and year ended Mar 31, 2017, the company has entered into an agreement to sell, executed a registered power of attorney and surrendered possession of certain portions of land and building resulting in Profit on Sale of Rs 21,09.48 Lakhs;Sale Deeds have subsequently been registered for a portion of the same.

2. The value of Box Stock written off Rs 20,39.13 Lakhs is based on review of the carrying value by a Management committee and the confirmation from customers who had supplied the base Rawmaterial (wafers) cancelling their orders due to change in technology and opting not to reimport the same.

3. The production was stopped for 27 days during the year ended March 31,2016 due to breakdown of the air conditioning plant. The depreciation charge on Plant and Machinery Employee Benefit Expense and other associated cost for the said period has been considered and disclosed as an Exceptional Item.

c. Share Capital includes 30,170 forfeited shares( Face Value Rs10/- paid up Rs5/-).

d. Tax expenses comprises current tax and deferred tax.

e. The subsidiary company SPEL America Inc, is being dissolved and consequently the investment of Rs0.04 Lakhs in SPEL America Inc has been fully provided for in the books.

f. The figures for the quarter ended Mar 31, 2016 and Mar 31, 2017 is the difference between the audited figures for the twelve months ended at the aforesaid dates and the unaudited figures for the nine months ended Dec 31, 2015 and Dec 31, 2016 respectively.

g. Company has only one segment i.e Integrated Circuits.

h. The figures for the previous periods/year have been reclassified /regrouped/amended,
wherever necessary.