IMP Powers Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2020

1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on 31st July, 2020.

2. The Company is primarily engaged in the business of Electrical products like Power & Distribution Transformers, its parts and Hydro projects which together constitute a single segment accordance with in the Accounting Standard on "Segment Reporting (Ind AS 108)".

3. The Company has evaluated the impact of COVID-19 on its financial statements based on internal and external information upto the date of approval of these financial statements and expects to recover the carrying amount of inventories, trade and other receivables. The Company does foresee some material impact on the liquidity. However will not affect us as a going concern. Till the time business operations at customer’s end get fully functional and supplies chain with vendors totally restores, business operations of the Company will remain impacted in spite of having excellent order backlog in hand. The Company will continue to monitor the future market conditions and update its assessment.

4. The Company has entered into an Agreement to Assign on 21st February, 2020 for proposed sale of its rights, title and interest in the property situated at Government Industrial Estate, Charkop, Kandivali (West), Mumbai subject to compliance of terms & conditions as stated in the agreement.

5. Figures for the last quarters ended 31st March, 2020 and 31st March, 2019 represent the difference between the audited figures for the full financial years and the limited reviewed figures for the nine month period ended 31st December, 2019 and 31st December, 2018 respectively.

6.The Company has adopted Ind AS 116 “Leases” effective from 1st April, 2019 using modified retrospective method. The Company has applied the standard to all its leases with the cumulative impact recognized on the date of initial application i.e. 1st April, 2019.

7. The Company has an order book of Rs.397 Crores as on date.

8.Figures of the previous periods have been regrouped / reclassified / rearranged where ever considered necessary to conform current period/ Year Classification