AVON LlFESCIENCES LIMITED

CIN:L24110TG1993PLC016112

Regd . Office: Survey No. 18, Yawapur Village, Sadasivpet Mandai, Medak District, Telangana - 502 291

Corp. Office: H Wing, 4th Floor, Tex Centre, Off Saki Vihar Road, Chandivali, Andheri (East), Mumbai - 400 072

Statement of Audited Results for the quarter and year ended March 31, 2018

(Amount in INR Lakhs)

Sr. Quarter Ended Year Ended

PARTICULARS 31.03.2018 31.12.2017 31.03.2017 31.03.2018 31.03.2017 No.

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

I Income from operations 0.00 0.00 0.00 0.00 0.00

II Other Income 0.13 3.85 596.37 3.98 599.50

III Total Income (1+11) 0.13 3.85 596.37 3.98 599.50

IV Expenditure

(a) Cost of raw material consumed 0.00 0.00 0.00 0.00 0.00 (b) Purcha ses of stock-in-trade 0.00 0.00 0.00 0.00 0.00

(c) Employee benefits expense 55 .76 41.32 59.44 242.11 311.39

(d) Finance Cost 370.02 359.93 359.93 1,449.81 1,440.64

(e) Depreciation and Amortisation expenses 159.14 162.37 166.92 644.50 678.23

(f) Other Expenses 16.60 20.98 23.52 59.98 93.09

Total Expenses 601.52 584.60 609.81 2,396.40 2,523.35

V Profit (Loss) before Exceptional Items and Tax (III-IV) (601.39) (580.75) (13.44) (2,392.42) (1,923.85)

VI Exceptional items 0.00 0.00 0.00 0.00 0.00

VII Profit (Loss) before Tax (V-VI) (601.39) (580.75) (13.44) (2,392.42) (1,923.85)

VIII Tax expenses

(a) Current Tax 0.00 0.00 0.00 0.00 0.00

(b) Deferred Tax 0.00 0.00 0.00 0.00 0.00

IX Net Profit (Loss) after tax (VII-VIII) (601.39) (580.75) (13.44) (2,392.42) (1,923.85)

X Other Comprehensive Income

(i) Items that will not be reclassified to Profit

or Loss 0.00 0.00 0.00 0.00 0.00

XI Total Comprehensive Income for the period (IX+X) (601.39) (580.75) (13.44) (2,392.42) (1,923.85)

XII Paid-up equity share capital 2,382.50 2,382.50 2,382.50 2,382.50 2,382.50

XIII Other Equity (6,633.03) (4,240.60)

XIV Earnings Per Share (Basic and Diluted) (2.52) (2.44) (0.06) (10.04) (8.07)

Notes:

Notes :

1 The audited financial statements for the quarter and year ended March 31, 2018 have been reviewed by

the Audit Committee and approved by the Board of Directors at its meeting held on May 30, 2018. The

information presented above is extracted from the audited financial statements. The financial statements

are prepared in accodance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133

of the Companies Act, 2013 read with relevant rules issued thereunder.

2 These Financial Statement are company's First Ind AS Financial Statement. The Company has adopted all

the Ind-AS Standard and adoptions were carried out in accordance with Ind-AS 101 - First time Adoption

of Indian Accounting Standard . The Transition was carried out from Indian Accounting Principles genera lly

accepted in India as prescribed under Sec 133 of the Companies Act, 2013 read with Rule 7 of the

Companies (Accounts) Rules, 2014 (IGAAP), which was the previous GAAP.

AVON LlFESCIENCES LIMITED

CIN:L24110TG1993PLC016112

Regd. Office: Survey No. 18, Yawapur Village, Sadasivpet Mandai, Medak District, Telangana - 502 291

Corp. Office: H Wing, 4th Floor, Tex Centre, Off Saki Vihar Road, Chand iva Ii, Andheri (East), Mumbai - 400 072

3 The Company operates only in one Business Segment i.e. manufacturing Bulk Drugs , hence does flOt have

any reportable segments as per Indian Accounting Standard (Ind AS)-108 "Operating Segments".

4 The format of the above financial results is as specified in SEBI's Circular ClR/CFD/CMD/1S/201S dated 30

November 201S read with SEBI's Circular CIR /CFD /FAC/62/2016 dated S July 2016 issued in connection

with first time transition to IND-AS.

S The number of investor complaints at the beginning and pending at the end of the Quarter were Nil.

6 The figures of previous period / year have been regrouped / rearranged wherever necessary / practicable

to conform to current period/year presentation.

7 The figures of quarter ended March 31, 2018 and March 31, 2017 are the balancing figures between

audited figures in respect of full financial year and published year-to-date figures upto the third quarter of

of the year ended March 31,2018 and March 31, 2017 respectively .

8 Reconciliation of Net Profit as previously reported under Indian GAAP to Ind AS for the year ended March

31,2017 is as under:

S.N. Particulars For the For the year

quarter ended

March 31,

2017

Net Profit after Tax for the Period (as per Indian GAAP) (13.44)

i Fair Valuation of Financial Liabilities 0.00

ii Acturial (gain)/ Loss on employee defined benefit obligations recognised in

Other Comprehensive Income 0.00

iii Prior period item 0.00

iv Other adjustments 0.00

v Deferred Tax impact of above adjustments 0.00

Net profit for the Quarter (as per Ind-AS) 0.00

Other comprehensive Income (net of tax) 0.00

Total Comprehensive Income (13.44)

8 Reconciliation of total equity as previously reported under Indian GAAP to Ind AS for the

year ended March 31, 2017 is as under:

S.N. Particulars

Total Equity (as per Indian GAAP)

i Fair Valuation of Financial Liabilities

ii Deferred Tax impact of above adjustments

Total Equity (as per Ind AS)

Mumbai

30-May-18

For the year

ended

March 31,

2017

2,382.50

0.00

0.00

2,382.50

ended

March 31,

2017

(1,923.85)

0.00

0.00

0.00

0.00

0.00

0.00

0.00

(1,923.85)

By order of the Board

For AVON LlFESCIENCES LIMITED

AVON lIFESCIENCES LIMITED

CIN: 124110TG1993PlC016112

Regd . Office: Survey No. 18, Yawapur Village, Sadasivpet Mandai, Medak District, Telangana - 502 291

Corp. Office : H Wing, 4th Floor, Tex Centre, Off Saki Vihar Road, Chand iva II, Andheri (East), Mumbai - 400 072

BALANCE SHEET AS AT MARCH 31. 2018

Particulars

AS5ETS Non-Current Assets

(a) Property, Plant and Equipment

(b) Capital Work-in-Progress

(c) Investment Property

(d) Goodwil l

(c) Other Intangible Assets (f) Intangible Assets Under Development

(c) Financial Assets (i) Investments

(ii) Trade Receivables

(ii) loans

(ii) Others

(e) Deferred Tax Asset (Net)

(d) Other Non-Current Assets

Current assets (a) Inventories

(b) Financial Assets

(i) Inves tments

(ii) Trade Receivables

(iii) Cash and Cash Equivalents

(iv) Bank Balances Other than (iii) above

(v) loans

(vi) Others

(c) Current Tax Assets (Net)

(c) Other Current Assets

EQUITY AND LIABILITIES

Equity (a) Equity Share capita l

(b) Other Equity

liabilities Non Current Liabilities

(a) Financial liabilities

(i) Borrowings

(ii) Trade Payables

TOTAL

Micro, Small and Medium

Others

(ii) Other Financial liabilities

(b) Provisions (c) Deferred Tax liabilities (Net)

(c) Other Non-Current liabilities

Current liabilities

(a) Financial liabilities

(i) Borrowi ngs

(ii) Trade Payables Micro, Small and Medium Others

(iii) Oth er Financial liabilities

(b) Other Current liabilities

(c) Provisions

(d) Current Tax liabilities (Net)

TOTAL

March 31, 2018

7,456.12

225.07

1,219 .30

0.51

8,901.00

5,546.34

8,882.71

8.83

4.29

78.55

570.43

601.93

15,693 .08

24,594.08

2,382.50

(6,633.03)

(4,250.53)

4,143.43

210.84

299.01

4,653 .28

13,512.87

5,150.61

5,502.21

25.64

24,191.33

24,594.08

(Amount in INR lakhs)

March 31, 2017

8,100.61

225.07

1,219.30

0.51

9,545.49

S,546.34

8,874 .09

8.93

4 .17

78.55

570.04

594.70

15,676.82

25,222.31

2,382.50

(4,240.60)

(1,858.10)

5,840.82

210.84

299.01

6,350.67

12,076.41

5,009.92

3,623.33

20.08

20,729.74

25,222.31

AVON LIFESCIENCES LIMITED (Formerly known as Avon Organics Limited)

Office: 'H' Wing, 4th Floor, Tex Centre, Off Saki Vihar Road, Chandivali , Andheri (E), Mumbai - 400 072, INDIA. • Tel. : +91 -22-2803 7777 • Fax : +91 -22-2857 5852

E-mail : info@avonlifesciences.com • Website : www.avonlifesciences.com • (CIN : L24110TG1993PLC16112)

DECLARA TION

N

[Pursuant to Regulation 33 (3)(d)of SEBI (Listing Obligation and Disclosure Requirement) (Amendment) Regulations, 2016)

I, Rajendra Kaimal, Director of Mis, Avon Lifesciences Limited, having its Corporate Office at

H Wing, 4th Floor, Tex Centre, Chandivali, Andheri(E), Mumbai 400 072, Maharashtra, do

hereby declare that Mis. N.G. Jain & Co, Statutory Auditors of the Company have carried out

audit of the Financial Statements of the Company for the year ended 31 st March 2018 and have

issued an Audit Report with unmodified opinion.

Yours sincerely, For Avon Lifesciences Lim·

~aKaima Director

Mumbai May 30, 2018

Regd. Office : Survey No. 18, Yawapur Village, Sadasivpet Mandai , Medak Dis!. , Telangana - 502 291 .

Works : E-2, MIDC, Chincholi, Solapur, Maharashtra - 413 255· Tel. 0217-2357339· Fax : 0217-2357738

01. :MuRgsfi :Mefita B Com . F.C A .

OI.5fiantifafjain N. G. JAIN & CO. B . Com FC A

01. Prince 'Kothari CHARTERED ACCOUNTANTS

B Com AC,A

320, Hammersmith Ind. Premises Co·op. Soc. Ltd., Narayan Pathare Marg, Off. Sitladevi Temple Road, Mahim (West), Mumbai . 400 016. Office Phone : + 91 22 244405641 +91 22 24440716

To, Board of Directors of Avon Lifescienccs Ltd

INDEPENDENT AUDITORS' REPORT

Auditor's report on Financial Results of Avon Lifesciences Limited pursuant to the regulation 33 the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015

We have audited the accompanying statement of financial results (the statement) of Avon Lifesciences Limited ("the Company") for the quarter and year ended March 31, 2018, attached herewith, being submitted by the company's manageil1ent pursuant to the requirement of Regulations 33 of the SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015, read with SEBI Circular No, CIRlCFD/FAC/62/2016 dated July 5, 2016.

The Statement includes the results for the Quarter ended 31 51 March 2018, being the balancing figure between audited figures in respected of the full financial year and the published year to date figures up to the third quarter of the full financial year which were subject to limited review by us.

Our responsibility is to express an opinion on these financial results based on our review of the financial results for the quarter and year ended March 31, 2018 which was prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standards (Ind AS) specified under Section 133 Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India; our audit of the financial statements as at and for the year ended March 31,2018; and the relevant requirements of the SEBI Regulations.

We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we comply with ethical requirements and plan and perform the aud it to obtain reasonable assurance about whether the financial results are free of material misstatements. An audit includes examining, on test basis, evidence supporting the amounts disclosed as financial results. An audit also includes assessir:; the accounting principles used and significant estimates made by management. We believe that our audit evidence we have obtained is sufficient and appropri ate to provide a reasonable ilasis for our audit opinion.

E·mail : info@ngjain.com • Web : www.rlgjain .com

.- j '

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 financial results :

(i) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIRJCFDIF AC/62/20 16 dated July 5,2016; and

(ii) give a true and fair view in conformity with the aforeside accounting standards and other accounting principles generally accepted in India of the net loss and other financial information of the company for the quarter ended March 31 , 2018.

ForN GJAIN & Co Chartered Accountants

iolf Prince Kothari

Membership No.: 155819

FRN No.: 103941W

p tace: Mumbai Date: 30,h May 2018