MosChip Technologies Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2021

1.The Audited Standalone Financial Results are prepared in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 ("the Act") read with relevant rules thereunder, other accounting principles generally accepted in India and guidelines issued by the Securities and Exchange Board of India ("SEBI").

2.The Audited Standalone Financial Results for the Quarter and Year ended 31 March 2021 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meetings held on 27 April 2021. The statutory auditors have carried out audit of these Standalone Financial Results and have issued an unmodified report on these results.

3.The Company has considered all possible effects that may result from COVID-19 in the preparation of these Audited Standalone Financial Results including the recoverability of carrying amounts of financial and non-financial assets. In developing these assumptions relating to all possible future uncertainties in the global economic conditions because of COVID-19, the Company has, at the date of approval of these Audited Standalone Financial Results, used internal and external sources of information and expects that the carrying amount of these assets will be recovered.

4.Other expenses includes provision for bad and doubtful debts, the Group is making appropriate provisions against receivables as per the provision policy approved by the Board of Directors.

5.The figures for the quarter ended 31 March 2021 are the balancing figures between the unaudited standalone figures for the nine months ended 31 December 2020 and the Audited standalone figures for Year ended 31 March 2021.

6.Previous quarter / year ended figures have been regrouped wherever necessary.