Nilkamal 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 results have been prepared in accordance with Indian Accounting Standards ('Ind AS ') notified under section 133 of the Companies Act, 2013, read together with the Companies (Indian Accounting Standards) Rules, 2015.

2. The above unaudited results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 25th January, 2019. These results have been subjected to limited review by the Statutory Auditors who have expressed an unqualified review conclusion. The review report has been filed with stock exchange and is available on the company's website.

3. Effective 1 April, 2018 the Company has adopted Ind AS 115 "Revenue from Contract with Customers". The adoption of this Standard did not have material impact on the financial results of the Company.

4. The Government of India introduced the Goods and Services Tax (GST) with effect from 1st July 2017, consequently revenue from operations for the quarters ended 31st December 2018 ,31st December 2017, and 30th September 2018 is net of GST. However revenue for the period prior to 30th June 2017 presented is inclusive of excise duty, where ever applicable. The Net Revenue from Operations (Net of GST/ Excise Duty) as applicable are stated below- (For Table, kindly refer Corporate Announcements on

5. In lieu of Assessment orders received , tax expense for the quarter and nine months ended 31st December 2018 is net of reversal of excess tax provision of Rs.446.15 lakhs and Rs.830.79 lakhs respectively.

6. Previous Period's/ Year's figures have been regrouped and reclassified, wherever necessary.

Sharad V. Parekh
Managing Director