Jindal Cotex Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2017

1. The consolidated financial results have been prepared with audited financials of M/s Jindal Medicot Limited, Jindal Specialty Textile Limited and with unaudited financial of Jindal International FZE, an subsidiary and M/s Himamchal Textile Park Ltd, an associate company.

2. The consolidated accounts have been prepared as per Accounting Standard(AS) 21 on consolidated financial statements, Accounting standard (AS) 23 on Accounting for Investment in Associates in consolidated Financial statements.

3. The above results have been reviewed by the Audit Committee and taken on record by the Board of Directors in its meeting held on 30.05.2017.

4. The figures of the last quarter are the balancing figures between audited figures in respect of full year financial year and the published year to date figures up to the third quarter of the financial year.

5. a) Pursuant to receipt of notice dated 27.03.2015 under sec 13(4) of The Securitisation and Reconstruction of financial Assets and Enforcement of security Interest Act,2002(SARFAESI Act 2002), interest on loan has not been provided.

b) Manufacturing facilities, at present, all location of the company (Except Wind Mill)have been suspended due to severe financial constraints. Company has rented out one of its unit to Jindal Specialty Textile Limited. Ltd. and is in the process of letting out of other unit.

c) Accounts of all the banks of the company has been declared as substandard, provision of interest has not been made on such accounts for the financial year 2016-17.

6. The Deferred Tax Assets, in accordance with AS-22"Accounting for Taxes on Income" on account of carried forward unabsorbed losses/ depreciation as per the Income Tax Act,1961 have not been recognised since there is no certainty of future taxable income.

7. The company engaged in the business of Textiles & Windmill and there are reportable segments as per AS-17 on segment reporting.

8. Previous period's figures have been regrouped and reclassified where is necessary.

9. We hereby declare that our Audit Report is having unmodified opinion by the Statutory auditor of our company

10. The status of investor Complaints received during the quarter is as follows:

a) Pending in the beginning - nil (b) Received - 1 (c) Resolved -1 (d) Pending - Nil