JBM Auto Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2017

"1. The aforementioned Audited Financial Results were reviewed by the Audit Committee and approved by the Board of directors at their respective meeting held on May 30 , 2017.

2. The figures for the quarter ended 31st March, 2017 and 31st March, 2016 are the balancing figures between audited figures for the full financial year and the unaudited published year to date figures upto the third quarter of the respective financial years.

3.a) Tax expense includes Provision for Current Tax and Deferred Tax.

3 b)As per Accounting Standard -26, Intangible Assets, expenses incurred on development activities comprising of salary, wages & material etc has been recognized as intangible asset/intangible assets under development. For the purpose of computation of tax expense the same has been considered as eligible expenditure u/s 35(2AB) of the Income Tax Act,1961 as the KOSI plant has been recognized as in-house R & D Centre by DSIR vide letter dated 22.06.2015 and the tax provision is made accordingly.

4. The Board has recommended a dividend @ 40% i.e Rs 2/Per share (Rupees two per share) (P.Y Rs 1.75 /Per share) on fully paid up equity share of Rs 5 /- each for the finacial year 2016-17 . In terms of revised Accounting Standard (AS-4) "" Contingencies and events occuring after the Balance sheet date"" as notified by the Ministry of Corporate Affairs through amendments to Companies (Accounting Standards) Amendment Rules, 2016 dated 30th March 2016, the company has not accounted for proposed dividend including CDT amounting to Rs 10.78 cr as liabilty as at 31st March 2017. However , the proposed dividends including CDT amounting to Rs 8.34 cr was accounted for as a liability as at 31st March 2016 in accordance with the then existing Accounting Standard.

5. The previous Period's figures have been regrouped and reclassified wherever considered necessary to make them comparable with the current year's/Period's figures.
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