Solitaire Machine Tools Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2020

1. The Audited Standalone Financial Results have been prepared in accordance with the recognition and measurement principles provided in Indian Accounting Standards (Ind AS 34), the provisions of Companies Act, 2013 (the Act), as applicable and guidelines by the Securities and Exchange Board of India (SEBI),underSEBI (Listing Obligation & Disclosure Requirements) Regulation 2015, as amended.

2. The above results have been reviewed and recommended by the audit committee and approved by the Board of Directors at their meeting held on 29/07/2020.

3. The Company opearates in a single segment only.

4. The Board of Directors have recommended dividend of % (viz Re 0.00 per share having face value of Rs.10/- each) subject to approval of shareholders in the ensuing Annual General Meeting.

5. Figures of the previous period/Year have been regrouped to conform to current year's classification. Further in view of the amalgmations described in note no.7 below, the figures of the current year are not comparable with those of the previous year.

6. Pursuant to Scheme of Amalgmation ("the Scheme") of Shruchi Manufacturing Company Limited (Transferor Company) with Solitaire Machine Tools Limited (Transferee Company) sanctioned by Hon'ble National Law Tribunal (NCLT) on 29-4-2020, all the assets and liabilities of the transferor company are transferred, in the books of transferee company, at the value appearing in the books of Account of Shruchi Manufacturing Company Limited as on appointed date ie 01-4-2017 8. The Company has assesed the impact of Covid-19 on the financial statements,business operations, liquidity position,cashflows, and has concluded that no material adjustments are required in the financial results. The Company will continue to monitor the impact of COVID-19 and any material changes to future economic conditions.

Hemendra J Badani
Vice Chairman & Managing Director