KPR Mill Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018

Auditor and Management Disclosures and Notes for the quarterly results dated 31 Dec 2018

1. The above standalone financial results have been reviewed by the Audit Committee on 23.01.2019 and taken on record and approved by the Board of Directors at their meeting held on 28.01.2019. The above results have been subjected to limited review by the statutory auditor of the Company. The report of statutory auditor is unqualified.

2. These financial results have been prepared in accordance with Indian Accounting Standard ('Ind AS') prescribed under section 133 of the Companies Act, 2013 read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular dated July 5, 2016.

3. The Company operates in one segment (i.e.) Textile business.

4. After obtaining the approval of the Board of Directors in its meeting held on 22.02.2018, the buy back of 13,35,000 Equity Shares of Rs.
5/- each (Representing 1.81% of the total number of paid up equity shares of the Company) from the shareholders of the Company on proportionate basis by way of tender offer route at a price of Rs. 810/- per share for an aggregate amount of Rs. 10,813 Lakhs was initiated in accordance with the provisions of the Companies Act, 2013 and the SEBI (buyback of Securities) Regulations, 1998. The same was completed on 13.04.2018.

5. Effective 01.04.2018, the Company has adopted Ind AS 115, Revenue from contracts with customers which replaces earlier revenue
recognition standards, using the cumulative effect method. The adoption of the standard did not have any material impact on the financial results for the quarter and for the nine months ended 31.12.2018.

6. Previous period figures have been regrouped / reclassified, wherever necessary, to conform with the current period classification /

Managing Director