Elnet Technologies Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2018

1. The above results for the quarter and year ended March 31, 2018, as reviewed and recommended by the Audit committee of the Board, has been approved by the Board of Directors at its meeting held on May 25, 2018.

2. The statement has been prepared in accordance with the companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under section 133 of the companies Act, 2013 and other recognised accounting practices and policies to the extent applicable. Beginning April 1, 2017, the Company has for the first time adopted Ind AS with a transition date of April 1, 2016

3.The company is engaged in the business of 'Developing and maintaining integrated software technology parks'' and therefore, has only one reportable segment in accordance with Ind AS 108 ''Operating Segments".

4. The figures for the quarter ended March 31, 2018 and March 31, 2017 are the balancing figures between audited figures in respect of the full financial year and unaudited published figures in respect of the financial results upto the third quarter of the respective financial years. The results for the previous periods have been restated as per Ind AS and are comparable on like to like basis. The amounts for the quarter and year ended March 31, 2017 were audited by previous auditors.

5. The board of directors of the subsidiary company at their meeting held on 28th August, 2017 made a declaration of solvency and approved the proposal for voluntary winding up of the affairs of the subsidiary company. The Members of the subsidiary have approved the voluntary winding up process by a special resolution passed on 01st September, 2017. The Liquidator has made the application for dissolution before the Honourable National Company Law tribunal, Chennai Bench under the provisions of Insolvency and bankruptcy code, 2016 read with rules thereon. Pursuant to the same, Elnet software city limited ceased to be a subsidiary of the company with effect from 01st September, 2017.

6. The Board has recommended today, a dividend of Rs. 1.50 per share (15%) subject to the approval of the shareholders at the ensuing 27th Annual General Meeting.

7. Previous year/ period’s figures have been regrouped/recast, wherever necessary, to conform to the classification on the current year/period’s classification.