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

1. The results which are published in accordance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on May 29, 2017 and have been audited by the Staturoty Auditors of the Company. The financial results are in accordance with the Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act, 2013. The figures for the quarter ended March 31, 2017 and the corrosponding previous quarter are the balancing figures between the audited figures in respect of full financial year and the year-to-date figures upto the third quarter of the financial year.

2. The Company has adopted Ind-As with effect from April 1, 2016 with comparatives being restated. Accordingly the impact of transition has been provided in the reserves as at April 1, 2015 and all the periods presented have been restated. The reconciliation between Ind-AS and the previous Indian GAAP for profits was first presented in Q1 FY 16-17 under limited review by the statutory auditors. The audited reconciliation of convergence to Ind-AS for profit and equity is presented as Annexure-I.

3. The Finance Act, 2017 has inserted sub section 2C to section 115JB of the Income tax Act, 1961 relating to Minimum Alternate Tax (MAT), prescribing the treatment of the transitional adjustments with respect to first time adoption of Ind-As while calculating "book profits" u/s 115JB. The Company has considered the said provisions for calculating the Tax Liability under MAT.

4. Segment information as per Ind-AS 108 on `Operating Segments' is disclosed.

5. The Board of Directors have recommended a Final Dividend of Rs. 2.10 (210%) per paid up equity share of Re.1/- each, aggregating to Rs. 4943 Lacs for the financial year ended March 31, 2017, aggregating to Rs. 5950 Lacs, including dividend distribution tax vide their resolution dated May 29, 2017, subject to approval of shareholders in the upcoming Annual General Meeting.

6. In terms of SEBI Circular CIR/CFD/CMD/56//2016 dated May 27, 2016 the Company hereby declares that the auditors have issued audit reports both for standalone financial results with unmodified opinion for the year ended March 31, 2017.

7. Previous period's figures have been regrouped and reclassified wherever necessary.