~ 7 .J

HIN DOOSTAN MILLS

The General Manager, Department of Corporate Services - Listing, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 00 l

Dear Sir,

Scrip Code: 509895

Re: Outcome of Board Meeting held on May 16, 2018.

1. Audited Financial Results:-

May 16, 2018

In terms of Regulation 33 SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015, we are enclosing herewith Audited Financial Results for the Quarter and Year ended March 31, 2018 together with Auditor's Report, as reviewed by the Audit Committee and approved by the Board of Directors at its Meeting held on May 16, 2018.

2. Appointment of Chief Financial Officer & Key Managerial Personnel of the Company:-

The Board of Directors has appointed Ms. Shraddha Shettigar as Chief Financial Officer (CFO) & Key Managerial Personnel (KMP) of the Company.

The Brief Profile of Ms. Shraddha Shettigar is as follows:

Ms. Shraddha Shettigar is a Chartered Accountant having ten years of post-CA experience with total experience of about eighteen years in all aspects of Accounts, Taxation, Finance and Auditing with SAP exposure in Fico. She has been working with the Company since June 2015.

The Meeting of the Board of Directors commenced at 12.00 Noon and concluded at 3.00 PM.

Kindly take the information on record.

Thanking you,

Yours faithfully, For DOOSTAN MILLS LTD.

Company Secretary & Compliance Officer

Encl: As above. Hindoos tan Mills Ltd . Sir Vit ha ldas Chambe rs. 16 Mumba i Sa machar Marg. Fort , Mumbai 400 001. India

T. +91-22-61240700/ 22040846 / 47/48 F. +91-22-22833841 E-m a il con tact@hindoos t an .com

CIN : L17121M H1904PLC000195

www.hi ndoost an.co m

A T HACKERSEY GROUP COM PAN Y

Sr.

No.

I

II

Ill

IV v VI

VII

VIII

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s 7 3

HINDOOSTAN MILLS

Statement of Audited Results for the Quarter ended 31st March, 2018

~in lakhs

Quarter Ended Year Ended

Particulars 31.03.20 18 31.12.2017 31.o3.2017 31.03.2018 31.03.2017 (Audited) (Unaudited) (Audited) (Audited) (Audited)

Revenue

(a) Net Sales/Income from Operations 4,139.06 4,349.78 4,313.36 16,255.29 15,368.31 (b) Other Operating Income 27.79 61.42 76.69 244.60 346.49

Total Revenue from operations 4,166.85 4,411.20 4,390.05 16,499.89 15,714.80 Other Income 79.95 51.98 144.54 213.02 290.05 Total Revenue 4,246.80 4,463.18 4,534.59 16,712.91 16,004.85

Expenses

a) Cost of Materials Consumed 2,631.64 2,633.55 2,645.96 10,542.37 9,782.55 b) Purchase of Stock · in -Trade 249.62 172.32 237.30 685.12 639.47 c) Changes in Inventories of Finished goods, Work in progress and Stock in 246.90 103.88 26.93 368.97

Trade (3.29) d) Employee Benefits Expense 431.32 494.65 464.95 1,914.88 1,810.25 e) Finance Cost 61.27 54.24 59.99 234.69 266.53 f) Depreciation and Amortisation Expenses 306.57 311.76 320.57 1,235.46 1,243.07 g) Other Expenses 892.39 750.29 1,033.49 3,132.31 3,162.31

Total Expenses 4,569.52 4,663.71 4,866.14 17,771.76 17,273.15 Profit I (Loss) before Exceptional items and Tax (322.72) (200.53) (331.55) (1,058.85) (1,268.30) Except ional items (Note No. 5) - - - (3.85) (77.82) Profit I (Loss) before Tax (322.72) (200.53) (331.55) (1,062.70) (1,346.12) Tax expense

- Deferred Tax 0.92 (3.24) (0.98) (3.69) (9.69) Loss after Tax (323.64) (197.29) (330.57) (1,059.01) (1,336.43) Other Comprehensive Income

- Items that will not be reclassified subsequently t o profit & loss (11.00) (2.33) (6.77) (18.10) (27.33)

Total Comprehensive Income (334.64) (199.62) (337.34) (1,077.11) (l,363.76)

Paid-up Equity Share Capital (Face value ~10/-each) 166.45 166.45 166.45 166.45 166.45 Earnings Per Equity Share

- Basic (19.44) (11.85) (19.86) (63.62) (80.29) - Diluted (19.44) (11.85) (19.86) (63.62) (80.29) See accompanying notes to the Financial Results

(Not Annual ised) (Not Annual ised) (Not Annualised) (Annualised) (Annualised)

Hindoostan Mills Ltd. S ir Vitha ld as Chambers, i6 Mumbai Sa machar Ma rg, Fort, Mumba i 400 00 1. India

T. +91-22-61240700 / 22040846/47/48 F. +91-22-22833841 E-mail contact@hindoostan.com

CIN : L17121MH1904PLC0 00195

www.hindoosta n.com

A THAC KERSEY GROUP COMPA NY

Sr.No.

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2

3

4

5

Notes:

1)

2)

3)

4)

Sr.No.

a.

b.

c.

d.

e.

f.

g.

h.

i .

j.

k.

HINDOOSTAN MILLS LIMITED

Segmentwise Revenue, Results, Assets, Uabilltes and Capital Employed

Particulars Quarter Ended Year Ended

(Audited) (Unaudited ) (Audited) (Audited) (Audited)

31.03.2018 31.12.2017 31.03.2017 3L03.2018 31.03.2017

Segment Revenue

a) Textile 3,492.43 3,930.09 3,619.56 14,264.17 13,500.58 b) Engineering Products 522.24 301.01 509.14 1,423.25 1,309.63 c) Composite Products 152.18 180.10 261.35 812.47 904.59 Gross Sales/Income from Operations 4,166.85 4,411.20 4,390.05 16,499.89 15,714.80

Segment Results (Loss)/ Profit before

Tax, Interest & Unallocable overheads a) Textile (277.13) (182.10) (367.60) (932.24) (1,198.23)

b) Engineering Products 74.40 39.62 71.68 165.42 151.18 c) Composite Products (124.78) (37.92) (87.05) (218.16) (175.00)

Total (327.51) (180.40) (382.97) (984.98) (1,222.05)

Interest Expenses (61.27) (54.24) (59.99) (234.69) (266.53)

Unallocable overheads net of unallocable income 66.06 34.11 111.40 156.97 142.46

Total (Loss)/ Profit before Tax (322.72) (200.53) (331.56) (1,062.70) (1,346.12)

Segment Assets

a) Textile 8,438.04 8,471.61 8,911.47 8,438.04 8,911.47

b) Engineering Products 1,139.05 1,124.89 1,257.32 1,139.05 1,257.32

c) Composite Products 1,165.90 1,402.44 1,523.39 1,165.90 1,523.39

d) Unallocable 539.71 544.59 607.64 539.71 607.64

Total Assets 11,282.70 11,543.53 12,299.82 11,282.70 12,299.82

Segment Liabilities

a) Textile 2,456.62 2,192.52 1,532.88 2,456.62 1,532.88

b) Engineering Products 342.07 364.99 300.03 342.07 300.03

c) Composite Products 39.09 64.98 85.10 39.09 85.10

d) Unallocable 794.06 813.43 1,143.80 794.06 1,143.80

Total Liabilities 3,631.84 3,435.92 3,061.81 3,631.84 3,061.81

Capital Employed

(Segment Assets · Segment Liabilities) a) Textile 5,981.42 6,279.09 7,378.59 5,981.42 7,378.59

b) Engineering Products 796.98 759.90 957.29 796.98 957.29

c) Composite Products 1,126.81 1,337.46 1,438.29 1,126.81 1,438.29

d) Unallocable (254.35) (268.84) (536.16) (254.35) (536.16)

Total Capital Em ployed in the Com pany 7,650.86 8,107.61 9,238 .01 7,650.86 9,238.01

The above audited financial results as reviewed by the Audit Committee, have been approved and taken on record at the meeting of the Board of Directors held

on 16th May 2018. The limited review as required as per listing agreement has been carried out by the statutory auditors of the Company.

The Company has adopted Indian Accounting Standards ("Ind AS") notified by the Ministry of Corporate Affairs w.e.f. 1st April, 2017 and accordingly these

financial results have been prepared in accordance with the recognition and measurement principles laid down in the Ind AS 34 - "Interim Financial Reporting"

prescribed under section 133 of the Companies Act, 2013 read with relevant ru les issued thereunder.

The Ind AS compliant financial results pertaining to quarter/ year ended on 31st March, 2017 have not been subjected to Review/Audit. However, the

Management has exercised necessary due diligence to ensure that the results provide a true and fair view of its affairs.

The reconciliation of net loss reported for the quarter and year ended 31st March, 2017 in accordance with Indian GAAP to total comprehensive Income in

accordance with Ind AS is given below:

Particulars Quarter year Year

ended ended

31st Mar. 2017 31st Mar. 2017

Net Loss as per Indian GAAP (334.89) (1,334.69)

Imputed Interest on security deposits (2.11) (2.03)

Finance Cost on Financial Assets/Liabilities recognised at Amortised Cost (1.63) (8.04)

Finance Income on Financial Assets/Liabilities recognised at Fair Value 1.09 (14.00)

Depreciation on Investment Property (0.70) (2.83)

Provision for Expected Credit Loss (ECL) (0.15) (11.95)

Remeasurement of Defined Benefit Obligation recognised In OCI under Ind AS 6.84 27.42

Deferred Tax on above 0.98 9.69

Net Loss before 00 as per Ind AS (330.57) (1,336.43)

Other comprehensive income (OCi) (6.77) (27.33)

Total Comprehensive Income under Ind AS (337.34) (1,363.76)

5) Exceotional Items :

Quarter Ended Quarter Ended Quarter Ended Year to date Year Ended Particulars 31.03.2018 31.12.2017 31.03.2017 31.03.2018 31.03.2017

Loss due to Fire - - - (3.85) (9.32) Fixed Asset written off - - - - (3.Sl) lnventorv (Property under development) written off - - - - (1.00) Property arbitration award (Net) - - - - (63.98) Total - - - (3.85) (68.49)

6) The Company has recognized interest subsidy, as per New Textile Policy 2012, as Other Income of~ 221.47 lakhs on accrual basis for the period July, 2015 to 31st

March, 2018 (Including ~ 58.31 lakhs for the current year). The Government Resolution In this regard dated 12th April, 2018 for release of subsidy is received for ~124.70 l akhs and for the balance Rs.96.77 lakhs is awaited.

7) The format for audited quarterly results as prescribed in SEBl's Circular CIR/CFB/CMD/15/201S dt 30th November, 2015 has been modified to comply with the requirements of SEBl's circular dt. 5th July, 2016, Ind AS and Schedule Ill (Division II) to the Companies Act, 2013.

8) Post the applicability of Goods and Services Tax (GST) w.e.f. July 1, 2017, revenue from operations is disdosed net of GST, which hitherto was indusive of excise duty (other than Textile Business). Hence, the revenue from operations for the quarter/ year ended on March 31, 2018 are not comparable with the corresponding previous period figures.

9) In view of losses for the year ended 31st March 2018, no provision for Income Tax and Minimum Alternate Tax under Section llSJB of Income Tax Act, 1961 are required to be made.

10) There was no investor complaint pending at the beginning of the quarter. During the quarter ended 31st March 2018, the Company has not received any complaint and hence no complaint is pending as at 31st March 2018.

11) Figures of the earlier periods have been regrouped / recast / redassified wherever necessary.

f·~ Chandrahas Thackersey

Chairman

Mumbai Dated : 16th May 2018

Sr.

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Hindoostan Mills Limited Audited Balance Sheet as on 31st March 2018

31.03.2018 Particulars

(Audited)

Assets

Non-Current Assets

Property, Plant and Equipment 4673.75

Intangible Assets 26.09

Capital Work in Progress 1.14

Investment in Property 23.56

Financial Assets

Investments 0.64

Other Financial Assets 145.48

Other Non-Current Assets 49.26

4,919.92

Current Assets

Inventories 2316.75

Financial Assets

Investment 66.73

Trade Receivables 3060.55

Cash and Cash Equivalents 105.18

Other Financial Assets 455.95

Current Tax Assets (Net) 290.95

Other Current Assets 66.67

6,362.78

Total 11,282.70

Equity and Liabilities

Equity Equity Share Capital 166.45

Other Equity 5,781.09

5,947.54

Liabilities Non-Current Liabilities

Financial Liabilites Borrowings 328.24

Provisions 435.89

Deferred Tax liabiliites (Net) 2.28

766.41

Current Liabilities

Financial liabilites

Borrowings 876.84

Trade Payables 2,064.47

Other Financial Liabilities 1,404.47

Other Current liabilities 152.72

Provisions 70.25

4,568.75

Total 11,282.70

'in lakhs

31.03.2017 (Audited)

5,785.89

31.85

2.03

29.44

0.75 144.91

47.26 6,042.13

2349.28

61.72 2,871.00

102.85

435.55

279.89

157.40

6,257.69

12,299.82

166.45

6,858.19 7,024.64

806.51

424.77 5.97

1,237.25

917.26 1,449.24

1,447.83 157.54

66.06

4,037.93

12,299.82

M.A. PARIKH & CO. CHARTERED ACCOUNTANTS

Auditor's Report On Quarterly Financial Results of the Company Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To Board of Directors ofHindoostan Mills Limited

We have audited the financial results of Hindoostan Mills Limited ("the Company") for the quarter ended 3 I st March, 2018 and the year to date financial results for the year ended on that date, attached herewith, being submitted by the company pursuant to the requirement of regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 20 15 as modified by Circular No. CIR/CFD/ FAC/62/ 2016 dated s11i July, 2016.

These quarterly financial results as well as the year to date financial results have been prepared on the basis of the interim financial statements, which are the responsibility of the company's management. Our responsibility is to express an opinion on these financial results based on our audit of such interim financia l statements, which have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard (Ind AS), prescribed under Section 133 of the Companies Act, 2013 (' the Act'), read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with requirement of Regulation 33 of the . SEBI (Listing Obi igations and Disclosure Requirements) Regulation, 2015.

We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial resul ts are free of material misstatement(s). An audit includes examining, on a test basis, evidence supporting the amounts disclosed as financial results. An audit also inc ludes assessing the accounting princi ples used and significant estimates made by management. We believe that our audit provides a reasonable basis for our opinion.

The financia l results for the quarter and year ended 31st March, 2017 reported under the previous GAAP, included in the statement, are based on the previously issued results of the Company, prepared in accordance with the Accounting Standards as per Section 133 of the Companies Act, 20 13 read with Rule 7 of the Companies (Accounts) Rules, 2014. These results were audited by us and we expressed an unmodified opinion on those standalone financial results. Management has adjusted these results for the difference in the accounting principles adopted by the Company on transition to the Indian Accounting Standards (' Ind AS') and presented a reconciliation for the same, which has been approved by the Company's board of Directors and Audited by us.

Based on our audit conducted as above, in our opinion and to the best of our information and according to the explanations given to us, these quarterly and year to date financial results:

YUS UF BUILDING. 2 ND FLOOR. 4 3. MAHATMA GANDHI ROAD. FORT. MUMBAI - 400 001. PHONE : 2204 1018 • 2204 3850 • 2202 9 187 • 4004 0828 • 2202 9 7 3 1 • E -MAIL : map@ maparikh.co.in

(i) have been presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 in this regard;

and

(ii) give a true and fa ir view of the net loss and other financial information for the quarter ended 31 si March, 2018 as well as the year to date results for the year ended 31 51 March, 2018.

For M.A. Parikh & Co.

Chartered Accountants

Firm Reg. No. 107556W

MUKUL M . PATEL

Partner Membership No. 32489

Place: Mumbai Date : l 61h May, 20 18

Q

I'> 7 3 '

HINDOOSTAN

The General Manager, Department of Corporate Services - Listing, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400 001

MILLS

Scrip Code: 509895

Dear Sir,

May 16, 2018

Sub: Regulation 33 (3) (d) of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 - Declaration with respect to Audit Report with unmodified opinion to the Audited Financial Results for the financial year ended March 31, 2018

Pursuant to SEBI Circular No. CIR/CFD/CMD/56/2016 dated May 27, 2016, we hereby declare that Mis M.A. Parikh & CO, Chartered Accountants (ICAI Firm Registration No. 107556W), Statutory Auditors of the Company have issued an Audit Report with unmodified opinion on Audited Financial Results of the Company for the financial year ended March 31, 2018. The above declaration is made pursuant to Regulation 33 (3) (d) of the Securities and Exchange Board oflndia (Listing Obligation and Disclosure Requirements) Regulations, 2015.

Kindly take the information on record.

Thanking you,

Yours faithfully, For HINDOOSTAN MILLS LTD.

RAJIV RANJAN Executive Director & CEO

For HINDOOSTAN MILLS LTD

~~ >b~~

SHRADDHA SHEITIGAR Chief Financial Officer

H indoostan Mills Ltd. S ir Vithaldas Chamb ers, 16 Mu mbai Samachar Marg, Fort , Mum bai 40 0 0 0 1. Ind ia

T. +91-22-61240700 / 22040846/47/48 F. +91-22-22833841 E-mail contact@hindoostan.com

CIN: L17121MHt904PLC000195

www.hindoostan.com

A THACKERSEY GROUP COMPANY