'

WELSPUN iNbI’A‘M"

HOME TEXTILES _

WIL/SEC/2018_

_February 13, 2018

To ~

Bombay Stock Exchange Limited National Stock Exchange of India Limited

Department of Corporate Services,'

ListingCompliance DepartmentSP. .1. Towers, Dalal Street, Exchange Plaza, Bandra—Kurla Complex,

‘

Mumbai — 400 001 Bandra (E), Mumbai — 400 051

(Scrip Code-514162) (Symbol: WELSPUNIND, Series BE)

Re: Regulation 33 of SEBI (Listing Obligations andDisclosure

Requirements) Regulations, 2015

Dear Sir / Madam,

Unaudited financial results for the quarter ended December 31, 2017 of the

financial year 2017-18, Limited review report and press release

Please find enclosed the text of the press communication, which is being released simultaneouslyto the media along with the unaudited financial results of the Company, on consolidated as well

as standalone basis, for the quarter ended December 31, 2017, as reviewed by the Audit‘

Committee and approved by the Board ofDirectors of the Company at their respective meetingsheld today.

Further, the Limited Review Reports of the Auditors of the Company on the unaudited financial

results of the Company (both on consolidated and standalone basis), are also attached.

Please take the same on your record.

Thanking you,

Yours faithfully,For Welspun India Limited

__

ashikant Thorat

Company SecretaryFCS — 6505

Encl: as above

Welspun india Limited

Weiepun House,6t1IFloor,1<amaia City. Senapati Ba"

T : +91 22 6613 6000 ,/ 24190 8000 F: +9122 2490 8

E-mail'

companysccretzI‘y_wil’dwE-Ispun.com Web

larg, Lower Farsi (West), Mumbai 400 013,1ndia.

/ 2490 8021

e . wwwwelspunindiacom

Pegistered Address: Welspun City, VillageVelsamcdi,1’aiul<e Anial, District!’,ut<:h Gujarat 370 110, indie.

T: + 912836 6611111-:+912836 279 010

Works: Survey No. 76, Village Morai. Vapi, District Valseid. Gujarat 396 191, inclia.

T: 491 260 2437437 F: +912BO 22437088

Corporate Identity Number: L1711OGJ1985PLCO33271

WELSPUN INDIA

BUSINESS UPDATE «:5 .7 .55

Ready to enter the Next Trajectory

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BUSINESS UPDATE 1i? InI e

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cansu/s presence In cnIna expanded U} an smres

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anagement comment

Speaking about the performance, Mr. 5.x. scenka, chairman, Weispun Group, said, ”We nave peen 1aking

imp: U} be prepared Idr 1ne mmre . n 1errns of our brands, cnanneIs, Inndyanidn,1raceapiii1y sniminns,

sds1ainapiii1y I'nmzh've: and so rnany mner areas. We peIIeyewe nave mm a snIId faundzh'an and are readyU} emerme nexnraiecmry."

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DISCLAIME

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oonaeooenpinaa

mum

_ WELSPUN INDIA LIMITED

(Corporate IdentityNumber L1711DGJ158L5PLC038271) -

LRegd.Office: WelspuLn Clty. Village VerLsamedI, TalukLa Antar. DILsL_ KLutch. Gujaratv37011DLL ‘

_

eIstun House. 5th Floor. Kamala Mills Compound, SenLapLatI fiapat Mary. Lower Parel. Mumbal»400013

(Rs. Int—ace)_

5r. Particulars -

_., Consolidated _ :_-

-

_

.

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:"9' IRE,” Notes Below)L Quarter Ended Nine Months Ended Xear Ended

L

31.12.2017 30.09.2017? 31.12.2016 31.12.2017 31.12.2016L

1 31.03.2017 _

(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)1 Income ‘

LL

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_

_

a. Revenue from Operations 1.39.795 1,60,697 1.50.065 4.54.434 4.88.338 6.64.054b. Other Income 1.635 2.296 2.097 5.253 5.500 8.055Total Income 1.41.430 1.52.993 1.52.132 4.59.687 4.94.233 6.72.109

2 Expenses_

,

‘

- -

Cost of materials consumed 61.602 60.175 68.998 1.96.893 2.14.925 2.85.616Purchaseofstock-lnL-trade 5.452 12.755 8.504 23.196 25.563

_87,732 ,

Changesin inventones offinished Goods. work‘in--progress and stock- 1.920 12.671 (14.445) 8.876 (23.302) (19,438)i

in-trade_

_-

_

-

Employee benefits expense 16.672 17.165 16.436 50.637 46,956 63.730Depreciation and amortisation expense 12.716 12.856 13.045 37.409 36.892 50.542Other Expenses 20.605 29.600 35.903 08.047 1.04.144 1.38.025Finance Costs 3.454 3.249 4.802 10.267 11.525 15.026Total Expenses 1,30,731 1.48.481 1.33.303 4.15.125 4.16.708 5.72.003

3 Proflt before Exceptional Items and tax (1 ~ 2) 10.695 14.512 18.079 43.552 78.130 1.00.0264 Exceptional Items [Net Gain I (Loss)] - [Refer Note 2] - < 2.388 — (46.560) (46.475)5 Profit before Tax (3+4) 10,659 14.512 21.267 43,562 31,570 53,5516 Income Tax Expense

Current Tax 713 3.446 6.291 10.091 8.769 12.449Deferred Tax 2.035 1,041 (46) 2.639 1.992 4.665

Total Income Tax Expense 2,748 4.487 6.243 12.730 10.781 17.3147 Net Profit for the period (5—6) 7.951 10.025 15.024 30,832 20,759 36,2378 other comprehensive income. net of income tax

A. Items that will not be reclassified to profit or loss 10 (35) (25) (36) (50) 1126. Items that will be reclassified to profit or loss 1.182 (4.667) (2.620) (4.064) (43) 7.676Total other comprehensive Income. net of income tax 1.192 (4.922) (2.645) (4.102) (93) 7.788

9 Total comprehenslve Income for the perlod (Including Non- 9.143 5.103 12.379 26.730 20.696 44.025controlling Interests)(7+0)

10 Net Profit attributable to:

- Owners 7,742 9.654 14.938 29.533 20.371 35.756- Non-controlling interests 209 361 as 999 4'13 481

11 Other comprehensive income attributable to:

- Owners 1,169 (4.824) (2.571) (4.013) (99) 7.700- Non-controlling interests 23 (96) (74) (84) 6 as

12 Total comprehensive income attributable to:

— Owners 0.911 4.840 12.367 25.815 20.272 43.456- NonAcontrolling interests 232 263 12 915 424 569

13 Paid-up Equity Share Capital (Shares of Re. 1 Each) 10.047 10.047 10.047 10.047 10.047 10.04714 Other Equity 2.29.66515 Eamings Per Share (oiRe, 1 each) (Not annualised for the quarters)

a) Basic 077 0.96 1.49 2.97 2.03 3.56

b) Diluted 0.77 0,96 1.49 2.97 2.03 3.56

SIGNED FDR IDENTIFICATION

BY _

S R B C & CO LLP

MUMBAI

_ weLspuN _IND_IA LIMiTED_

_

--

. (Corporate identity Number» L171106J1985PL003§4271)-

,

_

_

j _ _

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L

Regdorflce : Welspun city, Village Versarnedl. Taluka Anjar, Dist._Kut_ch, Gujarat -3701_10, _

,

_, Corp. Olftce i Welspun Housesth FlporrKamala Mills Compound, Senapatl Bapat Mary. Lower Parel,Mumbal-400013

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‘

uNA'uorreo CONSOLIDATED FiNANClAL ResULTs FOR QUARTER AND NINE MONTHS ENDED 3151' DECEMBER 2017N otes :

1 The above consolidated financial results for the quarter and nine months ended on December 31, 2017 were reviewed by the AuditCommitteeand_

thereafter approved by the Board of Directors at the meeting held on February 13, 2018.The StatutoryAuditors have carried out a Limited Review of- the above financial results forthe quarter and nlneym‘onths ended Decemberal, 2017. is , i‘ ,

2 During the previous year, the Groupkhad made provision towards Exceptional items (refund to the customers, inventory writerdown, legal fees etc.)relating to the traceability‘issue. The Group has reassessed the outstanding provision! liability as at quarter ended December 31, 2017 and no

significant additional provision is considered necessary. -~

3 Relating to the traceability issue, five putative class action suits were filed in USA against the Company and its subsidiary vizH Welspun USA the bycertain consumers, out of which four putative class action suits were consolidated in one of the Courts during the quarter ended December 31, 2016and are proceeding as a single putative class action. The plaintiff for a fifth putative class action suit filed a notice of voluntary dismissal without

’

prejudice during the quarter ended September 30, 2017. For the aforesaid consolidated putative class action suit still pending, the court has setdeadlines for class discovery and the filing ofa class certification motion. The Company, Welspun USA inc. and the other defendants in theconsolidated action have filed motions to dismiss the consolidated putative class action suit and to strike the class allegations. The court proceedingsare in a preliminary stage and it cannot be determined at present whetherthe consolidated putative class action suit will be permitted to proceed as a

_

class action and therefore the monetary impact, if any, of the final outcome ofthe law suit is currently un-ascertainabie.L

4 Since the quarter ended 30th September2017, the Group has started monitoring operating results under single operating segment viz., "hometextiles". Accordingly, the Group has restated the previous periods result to make it comparable and this change has no impact on the profit forthequarter and period ended December31. 2017. As per requirement of ind-AS 108

"

Operating Segments” no disclosure is required as the Group isoperating in single segment namely "Home Textiles".

,

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5 Figures for the previous periods/year are re-arranged/re-grouped, wherever necessary.

FOR AND ON BEHALF OF THE BOARD

Rajesh Manda ewa‘la/Mumbai

(Managing Dir ctor)Date : February 13, 2018 DIN : 00007179

SIGNED FOR IDENTIFICATIONBY

‘

We3 R B C & CD LLP

MUMBAI

s it a C a CO :15) 33‘:Chartered Accountants

Eadaernéi‘mgtgapaI flFU

Mumbai - 400 028, India

Tel :+91 22 13192 0000

Fax : +91 22 6192 1000

Review Report to

The Board of Directors

Welspun India Limited

1. We have reviewed the accompanying statement of unaudited consolidated financial

results of Welspun India Limited comprising Welspun India Limited (the ‘Company’)

and its subsidiaries (together referred to as ‘the Group') for the quarter ended

December 31, 2017 and year to date from April 1, 2017 to December 31, 2017 (the

“Statement") attached herewith, being submitted by the Company pursuant to the

requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015, read with SEBI Circular No.

CIR/CFD/FAC/62/2016 dated July 5, 2016.

2. The preparation of the Statement in accordance with the recognition and

measurement principles laid down in Indian Accounting Standard 34, Interim Financial

Reporting (Ind AS 34) prescribed under Section 133 of the Companies Act, 2013 read

with Rule 3 of Companies (Indian Accounting Standards) Rules, 2015 read with SEBI

Circular No. ClR/CFD/FAC/62/2016 dated July 5, 2016 is the responsibility of the

Company's management and has been approved by the Board of Directors of the

Company. Our responsibility is to express a conclusion on the Statement based on our

revnew.

3. We conducted our review in accordance with the Standard on Review Engagements

(SRE) 2410, Review of Interim Financial Information Performed by the Independent

Auditor of the Entity issued by the Institute of Chartered Accountants of India. This

standard requires that we plan and perform the review to obtain moderate assurance

as to whether the Statement is free of material misstatement. A review is limited

primarily to inquiries of company personnel and analytical procedures applied to

financial data and thus provides less assurance than an audit. We have not performed

an audit and accordingly, we do not express an audit opinion.

4. Based on our review conducted as above, nothing has come to our attention that

causes us to believe that the accompanying Statement of unaudited consolidated

financial results prepared in accordance with recognition and measurement principles

laid down in the applicable Indian Accounting Standards specified under Section 133

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

recognised accounting practices and policies has not disclosed the information

required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and

Disclosure Requirements) Regulations, 2015, read with SEBI Circular No.

ClR/CFD/FAC/62/2016 dated July 5, 2016, including the manner in which it is to be

discIosed, or that it contains any material misstatement.

5. We draw attention to the following matters:

a. Note 2 to the financial results regarding the exceptional item accounted during

the previous year, towards provisions/liabilities for refund to the customers,

inventory write-down, legal fees etc.

SRBC&COEEPChartered Accountants

Review Report~ Welspun India Limited

Page 2 of 2

b. Note 3 to the financial results regarding putative class action suits filed in USA

against the Company and its subsidiary, Welspun USA Inc.. by certain

consumers who purchased the products manufactured by the Company.

Our conclusion is not qualified in respect of these matters.

6. The comparative lnd AS consolidated financial information of the Group for the

corresponding quarter and nine months ended December 31, 2016 were reviewed by

the predecessor auditor and the Ind AS consolidated financial statements of the

Group for the year ended March 31, 2017, were audited by predecessor auditor who

expressed an unmodified opinion on those consolidated financial information on

January 31,2017 and April 25, 2017 respectively.

ForSRBC&COLLP

C rtered Accountants

IC'

registration number: 324982E/E300003

*r‘.

per Vikas Kumar Pansari

Partner

Membership No.: 93649

Mumbai

February 13, 2018

ZLWELSPUN INDIA LIMITED

(Corporate IdentityNumber- L171106J1905PL0033271)

_

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Regd.Office: Welspun City. Village Versamedl, TaluIILa AnJar. DistrictKLutch, Gularat 3.170110Corporate Off e: WelspLun House. Gth Floor, Kamala Nllils Compound Sena :10 Ba at IVIarg. Lower Parel. Mumbal-400L 013.

STATEMENT OFUNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTERAND NINE MONTHSENDED 31ST DECEMBER 2017L

(Rs. In-Lacs)-L_. .

Sr. Particulars _-' '

_

_

_

_' ,

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Quarter Ended’

Nine Months Ended'

Year Ended

NO- (Refer Notes below) .

‘

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_

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31.12.2017 30.09.2017 31.12.2016 31.12.2017. 31.12.2016 31.03.2017.

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

1 Income -

_

‘

L

_.

,

_

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Revenue from operations‘

1.17.021‘

1.25.919‘

1.32.148 3.75.873‘

4.24.057, 5.72.153

Other Income .

-

_

L

1.930 1.110 _ 2.025‘

4.212 _. 6,239 _ 7,193Total Income ,

L ‘

. 1.10.951 1.27.029 1.34.173 3.80.085 \ 4.30.296 5.79.351

2 Expenses _

‘

_

_

Cost ofmaterials consumed_

- 56,532 - 55.473_

67,966L

1.82.118-

2,08,308 2.75.194. _

Purchase of StockIII-trade ‘- 637 1.146 ~‘983 2,201 . 4.662 5,541L

Changes In Inventories ofFlnlshed Goods. Workln-Progress and 2,333 9.104 (6,544) 6.474 (15.475) _ (11.201)

Stock-In-trade,

..

_

~

- _

_

I_

Excise duty _

- . ~ 941 1,925. 7.940 13,225Employee benefits expense . 11.949 12.512 . 12.014 38,753

‘

34,372 46,436

Depreciation and amortisation expense 11.043 11.979 12.067 34,780,

33.974 46,632

Other expenses 24.066 26.779 27.277 00,030 83,535 1.11.020 _

Finance costs_

2.129 1.976 3,050 6.474 6,354 0,719

Total Expenses

L

1,09,489 1.19.049 1.17.754 3.50.766 3.63.750 4,90,565

3 Profit before exceptional items and tax 9,462 7.980 16.419 29.319 66.546 80,785

4 Exceptional Items (Loss) (Refer Note 2)- - - - (46,056) (46,056)

5 Profit before Tax (3+4) 9,462 7.900 16.419 25.319 20.490 42,725

6 Income Tax Expense

L

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Current Tax 121 2,141 4.454 6.773 5.246 8,898

Deferred Tax .884 (32) (34) (586) 304 3,177

Total Tax Expense 985 2,109 4,450 6,187 5,550 12,075

7 Net Profit for the Perlod (5-5) 8,477 5,871 11,969 23,132 14.940 30.654

8 other comprehensive Income

Items that will not he reclassified to profit or loss 11 (35) (25) (38) (50) 85

9 Total comprehensive Income for the period (7+8) 8.480 5,836 11,944 23,094 14,590 30,739

10 Paid-up Equity Share Capital (Shares of Re.1 each) 10,047 10,047 10,047 10,047 10,047 10.047

11 other Equity 2,10,053

12 Earnings Per Share (of Re.1 each) (Not annuallsad)

a) Basic 0.84 0.59 1.19 2.30 1.49 3.05

b) Diluted 0.84 0,59 1.19 2.30 1.49 3.05

Notes :

1 The above financial results for the quarter and nine months ended on December 31. 2017 were reviewed by the Audit Committee and

thereafter approved by the Board of Directors at its meeting held on February 13, 2018. The Statutory Auditors have carried out a Limited

Review of the above financial results for the quarter and nine months ended on December 31, 2017.

2 During the previous year. the Company had made provision towards Exceptional Items (refund to the customers. inventory write-down. legal

fees etc.) relating to the traceability‘Issue. The Company has reassessed the outstanding provision/ liability as at quarter ended December 31

2017 and no significant additional provision is considered necessary.

3 Relating to the traceabilityIssue. five putative class action suits were filedIn USA against the Company and its subsidiary viz.I Welspun USA

Inc by certain consumers. out of which four putative class action suits were consolidatedIn one of the courts during the quarter ended

December 31. 2016 and are proceeding as a single putative class action. The plaintiff for a fifth putative class action suit filed a notice of

voluntary dismissal without prejudice during the quarter ended September 30 2017. For the aforesaid consolidated putative class action

suit still pending. the court has set deadlines for class discovery and theIfiling of a class certification motion The Company, Welspun USA Inc.

and the other defendantsIn the consolidated action have filed motions to dismiss the consolidated putative class action suit and to strike

the class allegations The court proceedings are in a preliminary stage and it cannot be determined at present whether the consolidated

putative class action suitwill be permitted to proceed as a class action and therefore the monetary impact, if any. of the final outcome of the

law suit'Is currently un--ascertainable

4 The Company is principally engaged in a single business segment viz., Home Textiles based on nature of products. risks, returns and the

internal business reporting system.

5 Figures for the previous periods/year are re—arranged/re~grouped. wherever necessary.

SIGNED FUR IDENTIFICATIONFOR AND ON BEHALF or THE BOARD

BY

(XL/9

Rajesh Mandawewal /S R B C & CO LLP

Mumhai (Managing Director)

MUMBAI

Date : February 13. 2010 DIN 00007179

S R B C 8: CO “LP éé‘é‘ei'gfiéiféfp’itilmDadar (West)Chartered AccountantsMumbai _ 400 028,1ndia

Review Report to Tel ;+91 22 5192 0000

The Board of Directors

Welspun India Limited

1.

Fax1+91 22 6192 1000

We have reviewed the accompanying statement of unaudited standalone financial results

of Welspun India Limited (the ’Company') for the quarter ended December 31, 2017 and

year to date from April 1, 2017 to December 31, 2017 (the “Statement”) attached

herewith, being submitted by the Company pursuant to the requirements of Regulation33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read

with SEBI Circular No. CiR/CFD/FAC/62/2016 dated July 5, 2016.

The preparation of the Statement in accordance with the recognition and measurement

principles laid down in Indian Accounting Standard 34, interim Financial Reporting (Ind AS

34) prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of

Companies (Indian Accounting Standards) Rules, 2015 read with SEBI Circular No.

ClR/CFD/FAC/62/2016 dated July 5, 2016 is the responsibility of the Company‘smanagement and has been approved by the Board of Directors of the Company. Our

'

responsibility is to express a conclusion on the Statement based on our review.

We conducted our review in accordance with the Standard on Review Engagements (SRE)

2410, Review of Interim Financial information Performed by the Independent Auditor of

the Entity issued by the institute of Chartered Accountants of India. This standard

requires that we plan and perform the review to obtain moderate assurance as to whether

the Statement is free of material misstatement. A review is limited primarily to inquiriesof company personnel and analytical procedures applied to financial data and thus

provides less assurance than an audit. We have not performed an audit and accordingly,we do not express an audit opinion.

Based on our review conducted as above, nothing has come to our attention that causes

us to believe that the accompanying Statement, prepared in accordance with the

recognition and measurement principles laid down in the applicable Indian AccountingStandards ('Ind AS') specified under Section 133 of the Companies Act, 2013, read with

relevant rules issued thereunder and other recognised accounting practices and policieshas not disclosed the information required to be disclosed in terms of Regulation 33 of

the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with

SEBI Circular No. ClR/CFD/FAC/62/2016 dated July 5, 2016, including the manner in

which it is to be disclosed, or that it contains any material misstatement.

We draw attention to the following matters:

a. Note 2 to the financial results regarding the exceptional item accounted duringthe previous year, towards provisions/liabilities for refund to the customers,

inventory write-down, legal fees etc.

b. Note 3 to the financial results regarding putative class action suits filed in USA

against the Company and its subsidiary, Welspun USA Inc., by certain consumers

who purchased the products manufactured by the Company.

Our conclusion is not qualified in respect of these matters.

SRBC&CO!;LPChartered Accountants

Review Report ~

Welspun India Limited

Page 2 of2

6. The comparative lnd AS financial information of the Company for the correspondingquarter and nine months ended December 31, 2016 were reviewed by the predecessorauditor and the ind AS financial statements of the Company for the year ended March 31,2017, were audited by predecessor auditor who expressed an unmodified opinion on thosefinancial information/statements on January 31, 2017 and April 25, 2017 respectively.

ForSRBC&COLLPed Accountants

r registration number: 324982E/E300003

per Vikas Kumar Pansari

Partner

Membership No.: 93649

Mumbai

February 13, 2018

WELSPUN iNDiA LIMITED(Corporate identity Number L17110601985PLCD33271)

RegdOffice: Welspun City. Village Versamedi TalukaL Anjar, Dlst. Kutch, _G_LuJarat~37011L0Corp. Office: Welspun House, 6th Floor. KLaanalLa LMllisL Compound, SeLnapati Bapat Marg, Lower Parel, Mumba _

00013

EXTRACT OF STATEMENT OFL UNAULDITED CONSOLIDATED FINANCIAL RESULTS FOR THE DLUARLTELR LAND LNINE MDLNTHSL ENDED DECEMBER 31,L2017

(RsLL in lacs)L

Quarter Ended'

LNlneL MonthsL'

__-_

~ _

‘_Ended

NS: Particulars.

,,

,g _ _.

L‘

_’_*

*

31.12.2017 31.12.2016L

31.12.2017'

(Unaudited) (Unaudited) (Unaudited)1

L

Total income 1,41 ,430 152.182 4, 59 ,687

2 Net Prof t for theperiod (before Tax and Exceptional items) 10.699 18,879 43,562

3 Exceptional lterns [Net Gain I (Loss)]L

- 2,388‘

-

4 Net Profit for the period before Tax (after Exceptional items) 10,699 21,267 43,562

5 Net Prof' t for the

periodafter Tax (after Exceptional items and after non—controlling interests) 7,951 _ 15,024 30,832

6 Total Comprehensive Income for the period (Comprising profit for the period (after tax) and 9,143 12,879 26,730Other Comprehensive Income (after tax)]

’

7 Equity Share Capital (Shares of Re 1 each) 10,047 10,047 10,047

8 Other Equity as shown'In the Audited Balance Sheet as at 31 March 2017 2,29,668

9 Earnings Per Share (of Re 1 each) (Not annualIsed)_

*

a) Basic 0.77 1.49 2.97

b) Diluted 0.77 1.49 2.97

Notes :

1 The above is anrextract of detailed format of Quarterly Financial Results filed with the Stock Exchanges under Regulation of 33 of the SEBI_

(Listing Obligations and Other Disclosure Requirements) Regulation 2015. The full format of the Quarterly Financial Results are available on

the Stock Exchange websites www.nseindia.com and www.bseindia.com and also on company's website www.walspunindia.com.

During the previous year, the Group had made provision towards Exceplional Items (refund to the customers, inventory write-down, legal fees

etc.) relating to the traceability issue. The Group has reassessed the outstanding provision! liability as at quarter ended December 31, 2017

and no significant additional provision is considered necessary.

Relating to the traceability issue, live putative class action suits were filed in USA against the Company and its subsidiary viz., Welspun USA

lnc. by certain consumers, out of which four putative class action suits were consolidated in one of the courts during the quarter ended

December 31, 2016 and are proceeding as a single putative class action. The plaintiff for a fifth putative class action suit filed a notice of

voluntary dismissal without prejudice during the quarter ended September 30, 2017. For the aforesaid consolidated putative class action

suit still pending, the court has set deadlines for class discovery and the filing ofa class certification motion. The Company, Welspun USA

inc. and the other defendants in the consolidated action have filed motions to dismiss the consolidated putative class action suit and to strike

the class allegations. The court proceedings are in a preliminary stage and it cannot be determined at present whether the consolidated

putative class action suitwill be permitted to proceed as a class action and therefore the monetary impact if any, of the final outcome of the

law suitIs currently un~ascertainable.

4 Additional Information on standalone financial results is as follow:

(Rs. In lacs)Quarter Ended Nine Months

SrEnded

‘

ParticularsNo.

31.12.2017 31.12.2016 31.12.2017

(Unaudited) (Unaudited) (Unaudited)

1 Total Income 1.18.951 1.34.173 3,80,085

2 Net Profit for the period (before Tax and Exceptional items) 9,462 16,419 29,319

3 Net Profit for the period before Tax (after Exceptional items) 9,462 16,419 29,319

4 Net Profit forthe period after Tax (afler Exceptional items) 8,477 11,969 23,132

5 Total Comprehensive income for the period(after tax) 8,488 11,944 23,094

Mumbai

Date: February 13, 2018

FOR AND ON BEHALF OF THE BOARD

Rajesh

(Managing Director)

DlN : 00007179