JBM Auto Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2018

1) The audited financial results for the Quarter and Year ended March 31st, 2018 are reviewed by the Audit Committee and taken on record by the Board of Directors in their meeting held on May 15th, 2018. The Statutory Auditors have expressed an unqualified audit opinion.

2) Beginning April 1st, 2017, the Company has for the first time adopted IND AS with the transition date of April 1st, 2016.The above results for the Quarter & Year ended March 31st, 2018 are in compliance with the Indian Accounting Standards (Ind-AS) notified by the Ministry of Corporate Affairs and in accordance with the requirement of Regulation 33 and Regulation 52 of the SEBI (Listing and Other Disclosure Requirements) Regulation 2015.

3)The figures of quarter ended March 31st 2018 and March 31st 2017 are the balancing figures between audited figures in respect of the full financial year 2017-18 & 2016-17 and the published year to date figures upto the third quarter of the financial year 2017-18 and 2016-17.

4) As per Indian Accounting Standard -38 (IND -AS), 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.

5) In their meeting held on 01.03.2018, the Board of Directors of the Company has approved the Scheme of Amalgamation of JBM Auto system Private Limited (“Subsidiary Company”) and JBM MA Automotive Private Limited (“Associate Company”) with JBM Auto Limited from appointed date 01.04.2017 subject to obtaining of necessary Regulatory approvals. Pending such regulatory approvals no adjustment has been made in the above results.

6)The previous GAAP figures have been reclassified to confirm to the IND AS presentation requirement. wherever considered necessary to make them comparable with the current Period figures.

7) Reconciliation of Net profit and Total Equity as reported under previous Generally Accepted Accounting Principle ('Previous GAAP') and as reported under IND AS , is given as Appendix- A.

8) The Board at its meeting held on May 15th, 2018 has recommended a dividend @ 40% i.e Rs 2/- per share (on fully paid up equity share of Rs 5/-each) for the year ended 31st March 2018.