Jyoti Structures Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2019

1.The above results have been approved by the board at their meetings held on March 14, 2020. The Statutory Auditors of the Company have carried out the audit for the year ended March 31, 2019.

2.The statement includes the unaudited figures / amounts for the year ended on date in respect of its eleven branches at Bangladesh, Bhutan I, Bhutan II, Kenya, Tanzania, Tajikistan, Georgia, Rwanda, Tunisia, South Africa and Uganda; unaudited figures for the period till December 31, 2017 in respect of its three branches at Dubai,Egypt & Kuwait. During 2017-18, the company had incorporated financial statements of five branches for the period till December 31, 2017. During the current year, unaudited financial statements for 2018-19 is available, however details w.r.t intervening period from 01.01.2018 to 31.03.2018 is not available and hence net opening difference aggregating to Rs. 356.49 lacs have been debited to Reserves and Surplus. In the absence of documentary supportings of the transactions, the branch accounts are incorporated in the above statement based on the transactions avaiable in the books of the branches maintained in the Tally accounting package of the respective branches.

3.Hon’ble National Company Law Tribunal, Mumbai vide Order No. CP/1137/I&BP/NCLT/MAH/2017 dated July 04, 2017 appointed Insolvancy Resolution Professional, ordering commencement of CIRP and Hon’ble National Company Law Tribunal, Mumbai vide Order No.MA 1129/2019 dated March 27, 2019 approved the Resolution Plan submitted by the Successful Resolution Applicant for the Company, effect of which shall be taken in the books upon fulfilment of conditions precedent as per the plan.

4.The Company is in the business of execution of projects related to power transmission and as such there are no separate reportable operating segments as defined by Ind AS 108 - "Operating Segments".

5.Cost of material consumed includes Bought-out materials purchased / return / adjusted for supplies to customers under the contracts.

6.On account of loans being reclassified as Non-Performing Assets (NPA) by all lenders, interest has been provided for in the books of accounts based on Master Restructuring Agreement (MRA) entered into with the lenders on September 29, 2014, wherever bank statements are not available.

7.In view of uncertain nature of projects, complex situations, performance issues, deterioration in client relationship, delays in contracts, termination of contracts, probability of liquidation damages, unsettled or unaccepted claims, BG invocations, arbitration, disputes, non-availability of balance confirmation from clients, penalties etc., there may be a probability of substantial write down of the receivable on completion of reconciliations.

8..The Statement includes the results for the Quarter ended March 31, 2019 being the balancing figure between audited figures in respect of the full financial year and reviewed year to date figures upto third quarter of the current financial year.

9.Previous period figures have been re-arranged, re-grouped, re-calculated and re-classified, wherever necessary.