Cybertech Systems & Software Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2017

1. The above audited results were reviewed by Audit Committee and approved by the Board of Directors at its meeting dated May 10, 2017. The Statutory Auditors have expressed an unqualified audit opinion.

2. The Board of Directors recommend a dividend of Re.1 per equity share of Rs. 10 each for the F.Y.2016-17 subject to the approval of the shareholders in the ensuing Annual General Meeting.

3. The accounts of CyberTech Systems and Software Inc. USA (wholly owned subsidiary) has been consolidated by applying Accounting Standard 21 - "Consolidated Financial Statements" issued by the Institute of Chartered Accountants of India.

4. Pursuant to Accounting Standard 17 on "Segment Reporting" issued by the Institute of Chartered Accountants of India, the group has only one reportable segment viz. Software Development Services.

5. Subsequent to the year end, the Company has received an order cancelling the contract from Amravati Municipal Corporation (AMC). The Company has taken appropriate steps including filing of legal case . The Company is hopeful to recover the total exposure of Rs. 85.51 lakhs with AMC and hence no provision has been considered necessary at present.

6. Other Income for the quarter ended December 31, 2016 includes interest on Income Tax refund of Rs.210.19 lakhs.

7. During the quarter, 2,000 equity shares and for the year 2,07,000 equity shares of Rs. 10 each (P.Y. 75,000 equity shares) were allotted under the ESOP scheme.

8. * Figures of the quarter ended March 31, 2017 and for the quarter ended March 31, 2016 are the balancing figures between audited figures of the respective financial year and the published year to date figure up to the third quarter ended December 31, 2016 and December 31, 2015.

9. Figures for the previous periods / year have been regrouped / rearranged wherever necessary.