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

1. These results have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on 19th May. 2017 and were audited by the Statutory Auditor of the Company.

2. The financial results for the quarter ended 31st March. 2017 and 31st March, 2016 are balancing figures between audited results for the full financial year and the published year to dale figures upto the third quarter of the respective financial years

3. Since the net worth of the Company had become negative, the Company was registered and declared a Sick Industrial Company by the Board for industrial and Financial Reconstruction (BIFR) under the S
4. Segmental information:
(a) Primary (Business) Segment - The operations of the Company relate to only one segment viz Automotive Vehicles.

(b) Secondary (Geographical) Segment - Secondary segment reporting is on the basis of geographical location of the customers. The Company's revenue during the quarter by geographical markets are: Domestic sales Rs 569.39 lacs and Export sales Rs. 28.50 lacs and for the financial year Domestic sales Rs 737.32 lacs and Export Sales Rs 2580.26 lacs

Geographical segment wise loss and capital employed are not given since the production unit and administrative expenses are common

5. Comments on the Auditors' qualifications relating to the audited Annual Accounts for the year ended 31st March. 2017

(a) Non confirmation of balances of some of the Trade receivables/ payable. Current Liabilities, Lenders and Loans & Advances.

(b) In respect of Accounting Standard 2 (AS-2) Valuation of inventory issued by The Institute of Chartered Accountants of India.

(c) The Company’s ability to continue, as a going concern is dependent upon successful restructuring and revival of its business. In case the going concern concept is vitiated, necessary adjustments will be required on the carrying amount of Assets and Liabilities which are presently not ascertainable.

The Company is in process of restructuring / revival of its business, which, Inter-alia will include the proposed product plan The ascertainment of possible utilisation of slow moving / non moving items of inventory and adjustments in Trade receivables/ payable, if any will be undertaken upon finalisation of the product plan and implementation of the revival plan In view of this the accounts have been prepared on a going concern basis.

(d) Non provision for interest under The Micro, Small and Medium Enterprises Development Act, 2006:
In absence of information from Trade payables regarding status under The Micro Small and Medium Enterprises Act 2006, the liability of interest if any cannot be reliably estimated.

6. Previous period figures have been regrouped wherever necessary to make them comparable

Deepak Kumar Singhania
Chairman & Managing Director