Span Divergent 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

Note : -

1 The financial results of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 read with the relevant rules of the Companies (Indian Accounting Standards) Rules, 2015 as amended by the Companies (Indian Accounting Standards)(Amendment) Rules, 2016.

2 The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on January 24, 2019.

3 The Company's revenue from Sale of Traded products comprises from one business segment viz. Trading in commodities. Other Operating Income comprises of Interest on fluctuating capital provided by the Company to it's LLP subsidiaries and management fees income which is based on the revenue earned by subsidiaries during the quarter.

4 Company has opted to publish results on standalone financial results. The statutory auditors have carried out a "limited review" of the above financial results for the quarter and period ended 31 Dec 2018.

5 For the year ended 31 March 2018, Exceptional item pertains to final settlement from Business Transfer of IVD Business vide Business Purchase Agreement for slump sale transaction happened on March 05, 2015. The amount of Rs. 400 lakhs which was kept in Escrow Account has been received from Arkray Healthcare Pvt. Ltd. after deduction of Rs. 63.95 Lakhs on account of un-recovered assets comprising of SAD refund, deposits, account receivables etc. Since the original transaction for the slump sale was considered as an exceptional item in March 2015 financial statements, the said provision for deduction amount of Rs. 63.95 Lakhs has also been considered as an exceptional item.

6 Previous periods figures have been regrouped and rearranged wherever necessary.



Place : Surat Veeral Desai

Date : January 24, 2019 Managing Director