Prabhat Dairy Limited i Fresh Dairy -Milk ee rabhat Partners in Progress November 14, 2016 | BSE Limited National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G, Dalal Street Bandra Kurla Complex, Mumbai Bandra (E) Mumbai - 400 051 lee Scrip Code : 539351 Ref: Symbol - PRABHAT Sub.: Outcome of the Board Meeting. Ref.: Regulation 30 (2) of the SEBI (Listing Obligation and 2015, isclosure Requirements) Regulation, Dear Sir/Madam, This is in continuation to our letter dated November 02, 2016 and pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a meeting of the Board of Directors of the Company was held as scheduled today i.e. November 14, 2016 and the Board inter alis has considered and approved Un-audited financial results (standalone and consolidated) of the Company for the quarter and six months ended September 30, 2016. With reference to the above we are enclosing herewith the following documents: 1. Un-audited Financial Results (Standalone) for the quarter and six months ended September 30, 2016 along with Limited Review Report. 2. Un-audited Financial Results (Consolidated) for the quarter and six months ended ‘September 30, 2016 along with Limited Review Report The above information is also hosted on website at www.prabhatfresh.com,Prabhat Dairy Limited Fresh Dairy-Milk Ingredients «Co-manufacturing Kindly take the same on your records and acknowledge. Thanking you. Yours faithfully Wis Dairy Limited \ \e Kk ‘Managing Director DIN: 00820923 Encl.:A/a Frabhat Partners in ProgressBSR & Associates LLP Chartered Accountants 701 & 703, 7th Floor, ‘Telephone +31 (20) 3050 4000 Godrej Castlemaine Fax. 481 (20) 3050 4100 Noxt to Ruby Hall Clinic, Bund Garden Roed, Pune - 411001, Ingia Limited Review Report on Standalone Financial Results of Prabhat Dairy Limited Pursuant to the ulation 33 of the SI isting Obligations and Disclosure Requirements) Regulations, 2015 ‘To Board of Directors of Prabhat Dairy Limited 1 We have reviewed the accompanying statement of unaudited standalone financial results (‘the Statement’) of Prabhat Dairy Limited (‘the Company’) for the quarter and six month period ended 30 September 2016 attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Attention is drawn to the fact that the figures for the corresponding quarter and six month period ended 30 September 2015 including the reconciliation of profit under Ind AS of the corresponding quarter! period with profit reported under previous GAAP, as reported in these financial results have been approved by the Company's Board of Directors but have not been subjected to review. This statement isthe responsibility of the Company’s Management and has been approved by the Board of Directors. Our responsibility isto issue a report an these financial statements based on our review. 3. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entiy’ 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 financial statements are 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 standalone financial results prepared in accordance with applicable accounting standards i.e. Ind AS prescribed 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 and SEBI Circular dated 5 July, 2016 including the manner in which it is to be disclosed, or that it contains any material misstatement. For BSR & Associates LLP Chartered Accountants Firm Registrati 116231 W/ W-100024 Shiraz Vastani Partner ‘Membership Number: 103334 Place : Navi Mumbai Date : November 14, 2016PRABHAT DAIRY LIMITED Registered offic: At Ranjankhl,Ta-Rahata, Dist Ahmednagar, Pin - 413720, Maharashtra, India cn 115203PN1995PLCO13068, Website: wuw.prabhatfresh.com, E-mall ID: Investor@prabhatdair.in ‘STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 20 SEPTEMBER 2016 aroun Rupes nh (cep er share deta) 7 ae — woes Bi Sasa [use wes [wage | tetas Tunsoteay | (rsoted) [Tanase | Won] [ Wrens =a =s leis etee ences miunn| nsmse| use| oan| «som encore leet oe] | ee pct en ois ine | ase] san] oe | a 2 fens es erase mass] mans] romsse| somsoe| aszose potcanmenon coma| "amo| “eas “tocae| “tame [cent iatdeniwonmongesiaied| acm] are| ea] ee] na Ee ies ce Wes| | weal au] tase] amas fs rene ee erg ton| eal sal ‘zan| ‘Saar pooronas fseees| (oamee|= wmc| aee| aoe a Eas] ee | aa] ae] fet tem nats tt ot ame, tna co | arc] aun aniose) tamer! uassa eaten rt tm arate oe ane cats and een] | sep oe Sc 1 om ois] amon] wana] fe sy sa or tees es et ton! | | cay eat go > fet am tay a2 wan] sm = ene : 2 tect ata ktes ct Hia| |) emm| sets], yeem| uum 10 [retro eomme irl | il snl] cake bas met yee Bele gece eal ce tee 22 feoeame nie atin 13 frre ed 2 rum] sma] rss] sstnan| sass 4 eee Pesala a ah 13 [vat competnin nee 19 fae] fi see| ome| tamu| smn spine tO ered aa ts ey fe encen leo Bel ene le ems so une | eaaa| ae| | ae eateries eee es 1 |tonnaneey ae! rsa ele leeca|seoem| cals ae eed Pel eieea| an |. alo 3s eee eres SieNED FOR IDENTIFICATION 1PRABHAT DAIRY LIMITED Registered office: At Ranjankhol, Tal -Rahata, Dist Ahmednagar, Pin - 413720, Maharashtra India ‘IN: U15203PN1998PLC013068, Website : wwwprabhatfresh.com, E-mail ID: investor@prabhatdalry.in STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ANO SIX MONTHS ENDED 30 SEPTEMBER 2016 UNAUDITED STANDALONE STATEMENT OF ASSETS AND LIABLITIES AS AT 20 SEPTEMBER 2016 Amount Rupees in Las "As at half year ends 305Sep 2016 (Unaudited) lassers 1 |ron -curentasets Property plant and equipment 1331535 |cspitat workin progress 22620 ncangbe assets 36068 Financial ects Investments 137396.0 ‘Othe nancial assets 300 Jotnornen-curent assets 235851 33386 54 2 |eurent Assets ventores socio nancial eect Trade ecehabes 11996.7 Cash and cash equivalents 41931.10 Loans 15,82679 Balance with banks 232 (ther tna asets 1470 lorner current asset 271829 36,783.63 [ror assers 7oaT0a lequrry Ano wastes Jequity leauity share capita 9.76761 other equity 48'565.54 34,338.25, luasusmes 4 |Non-curent abies Franca labiltes Borrowings 3an.20 provisions 10451 oeterred taxable (net) 323.87 EEGs 2 |eurrent abies Francia tables Borrowings 7961336 Trade payables 2si194 ther Financial tabilties 718 Jotner urrent habites 22614 Provisions 4087 Jorren tae abies (net) 7956 Tise728 [rorat equrry ANo wasimies ToaTOIs BISHED, FOR IDENTIFICATION 3 2PRABHAT DAIRY LIMITED Registered office: At Ranjankhol, Tal -Rahata, Dist Ahmednagar, Pin 413720, Maharashtra India CIN: U15203PN1988°LC013068, Website : www-prabhatfresh.com, E-mail ID: Investor@prabhatdairy.in STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ANO SIX MONTHS ENDED 30 SEPTEMBER 2016 Notes to the Financial Results 11 The above unauaited standalone financial results have been reviewed by the Audit Committe and thereafter approved and taken on record by the board of Directors in their respective meetings held on November 14, 2016. These unaudited financial rezuts have been prepared in accordance with ‘the Indian Accounting Standards ("ind-AS") a specified under Section 133 ofthe Companies Act, 2013 read withthe Rule 3 of the Companies (Indian ‘counting Standards) Rules, 2015 and the Companies (Indian Accounting Standards] Amendment Rules, 2016 nd the provision of the Companies Act 2 The Company adopted Ind-AS from Apri 1, 2016 and accordingly the transition was cried out, from the acounting principles general accepted in India as specified under Section 133 ofthe Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules, 2014 IGA" or "previous GAAP") in accordance wth Ind-AS 101 «Fist time adoption of alan Accounting Standards Accordingly, the impact on transition has been recorded in ‘opering reserves as at Ail, 2015 and ll the periods presented have bien restated 3. The Statutory Autos of the Company have conducted 2 limited review ofthe above unaudited standalone financial results ofthe Company or the ‘quarter and half year ended September 30, 2016. An unqualified report has been issued by them thereon 44 A inal dividend of Re 0.40 (Paso foury ony) per equity share ofthe face value of Rs. 10 each forthe financial year 2015-16 was approved by the shareholders atthe Annual General Meeting held on September 30,2016 and the sae was paid on October 20, 2016. '5 As the Company completed its Ital Pubic Offering ("190") in September 2015, the fgues forthe quarter ended 30 September 2015 are balancing figures between the unaucites gues forthe hal year ended 30 September 2015 and figures pepared by management fr the quarter ended 30 une 21s 5 The figures forthe corresponding quarter and half year ended September 30, 2015, including the reconciliation of profit under Ind-AS of the corresponding quarter/period with the profit reported under previous GAAP as stated above), have not been subjected to leit review or audit. The management has exercised necessary due dligence to ensure that the financial results provide true and fat view ofits fairs 17 The Company is primariy engage in the business of processing and manufacturing of mik and dairy products and therefore the Company is ofthe view that revenue frm processing and manufacturing of mik and dairy products is 2 Sage component of the en fr assessing its performance. Hence, ‘brocessing and manufecturing of milk and dairy products the only reportable cegment '8 On October 09,2015, 2 search was conducted by the Income Tax Department pursuant tothe provisions of section 182(1) and section 133A of the Income Tax Ac, 1961 3 the offices ofthe Company at Shrirmpur, Pune and Navi Mumbo an alo atthe offices ofthe subsidiaries ofthe Company land the residence of Executive Directors residing at Shrirmpur. The Company has nt received any demand notice with respect tothe search 9 Reconciliation of Profit, 3s previously reported under IGAAP to Ind-AS forthe quarter and half yar ended September 30,2015: Rupees in ok a . For the quarter ended 30 For the six months ended 30] he ature of Adjustments September 2035 September 2015 ‘A__|Net Profits: per previous GAAP 35623] S280 3 lefect of transition w ind-AS on Statement of Prof Love 1. Effect of measuring Financial istruments at amortised cost in respect of ara aon loan given to subsidiary company Js. etect of mossuring long term borrowings at amortsed cost (1539) (4209) a. eect of change in ametsaton on account of measuring Property Plant 2a] (2 and Equipment (PE) at fir value lu. Remeasurement cost of net defined benef ability 2870] (23.66) |v Deferred nee 4258 6136 [etal Adjustment 23.27 331.06 “C_ [Wet Profit for the pari under nd AS TB] 7351 33556 1D [Total other comprehensive income (et of 3) 78.76 35.47 E_ [Total comprehensive income (0) 798.27 Tazo SIGNED FOR IDENTIFICATION ForB $R& Associates LLPPRABHAT DAIRY LIMITED Registered office: At Ranjankhol, Tal -Rahata, Dist Ahmednagar, Pin -413720, Maharasht 2, Inia ‘iN: U15203°N1998°LC013068, Website : www.prabhatfresh.com, E-mail ID: investor@prabhatdalry in STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2016 30 Previous period's figures have been regrouped / reclassified wherever necessary to comespond with the crrent perio 11 Utitsntion of funds rise through nal Public Offering (PO) of equity shares upto September 30, 2016 as flows: lasfeatin / sclosue. Sens. Partiulars Rupees in lathe a [ioe proceeds 30,0005 2 [less Repovment of trm loan from Indosta for Prabhat bay Unie 4,520.00, ‘3 |/255 infusion of fonds in Suresh Agro industries Private Limited by way of subscription to Ws equly shares of ot which ns 13,880.00 lakhs have been wtlised towards repayment of term loan from Indostar Capital Finance 17,386.80 uiited and Rs 2,808.77 lakhs have been used towards capital expenditure [tess Fond wise for payment of expence in relation to 1PO 3,982.10 tas Fond ase for General corporate purpose ‘eon [Unuticed balance : For Prabhat Dairy Limited Place: Navi Mumbai Date : November 14, 2016 Siouko FOR IDENTIFICATION For BSR & Associates LuP eeBSR & Associates LLP Chartered Accountants 701 & 703, 7th Floor, ‘Telephone +31 (20) 3050 4000 Godrej Castlemaine Fax 491 (20) 30504100 Next to Ruby Hall ‘Bund Garden Road, Puno -41100%.Ingia Limited Review Report on Consolidated Financial Results of Prabhat Dairy Limited pursuant to the ulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ‘To Board of Directors of Prabhat Dairy Limited 1 We have reviewed the accompanying statement of unaudited consolidated financial results (‘the Statement’) of Prabhat Dairy Limited (‘the Company’) and its subsidiaries (together referred to as “the Group’) for the quarter and six months period ended 30 September 2016 attached herewith, being submited by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Attention is drawn to the fact that the figures for the corresponding quarter and six months period ended 30 September 2015 including the reconeiliation of profit under Ind AS of the corresponding quarter/period with profit reported under previous GAAP, as reported in these financial results have been approved by Company’s Board of Directors but have not been subjected to review. This statement is the responsi of Directors. Our responsibility ty of the Company's Management and has been approved by the Board to issue a report on these financial statements based on our review, 3. We conducted our review in accordance withthe Standard on Review Engagement (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 financial statements are 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 We draw attention to note 7 to the Statement, which explains that a material subsidiary has not recognised Government Grant related to Income, which it is entitled to receive under the Package ‘Scheme of Incentives 2007 (‘the Scheme") of Government of Maharashtra. These benefits are in the nature of Government Grants in accordance with Ind AS 20 ‘Accounting for Government Grants and Disclosure of Government Assistance’. In our view, had the Company recognised such grant, the other income, Net profit before tax, Tax expense, Net profit after tax and Earnings per share would have been higher for the quarter ended 30 June 2016 by Rs. 407.11 lakhs, Rs. 407.11 lakhs, Rs. 45.19 lakhs, Rs. 361.92 lakhs and Re. 0.37 respectively, for quarter ended 30 September 2016 by Rs. 260.32 lakhs, Rs. 260. 32 lakhs, Rs. 14.06 lakhs, Rs. 246.26 lakhs and Re. 0.25 respectively and for six month period ‘ended 30 September 2016 by, Rs. 667.43 lakhs, Rs. 667.43 lakhs, Rs. 59.25 lakhs, Rs. 608.18 lakhs and Re, 0.62 respectively. Other equity as on 30 September 2016 would have been higher by Rs. 1,928.75 lakhs.BSR & Associates LLP Prabhat Dairy Limited Limited review report for the period ended 30 September 2016 (continued) 5. Based on our review conducted as above, except for the effects of the matter described in the paragraph 4 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 applicable accounting standards i.e. Ind AS prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognized 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 and SEBI Circular dated 5 July, 2016 including the manner in which it is to be disclosed, or that it contains any material misstatement. For BSR & Associates LLP Chartered Accountants Partner Membership Number: 103334 Place : Navi Mumbai Date : November 14, 2016‘PRABHAT DAIRY LIMITED Registered office: At Ranjankho, Tl - Rahat, Dist Ahmednagar, Pin - 413720, Maharashtra, India ‘IN: U15203PN1998P1.C013068, Website: wor prabhatfesh com, E-mall 1D: investor@prabhatdary in ‘STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2016 Armount Rupees nak except ger share data) = Farias Tasraranaea Hat yest ended No Sosep ROE | Sosune 016 | sOsep 015 | a0Sep20%6 | 0 Sep3015 [Unavelted) | (Unaudited) | (Unaudited) | (Unousited) | (Unaudited) 1 | came irom operations linet stertacome om operation, nasas| 200 mena) amal — ssze20 0) omer eperatngincome 900 sue 337 co | mann etal icome rom operations maui] sane| mess | areas] ——ssyena 2 | rpenses a} cor of mater conumed ware2s|asems8| nasom| asz0sza] aaa purchase of stacintrade esa] esas) 777] ase ms9 canes ners te oss were ads eS ale clase pea ae \ciempoyee ents expense siss] mrs] otras] nsasae rans le) Dereon nd amaraaton expense aosses| r0waa| agave] ain Yosa70 ome expen aasast| —2sziss| 2s] 521877 asen [otal expences mea warser| —mesen30| sae] sis [Patt fom operations betore ater income, Broce cass and] —sgr75] vesrse| aasaz0| aaunse oa lexceptonat tems (12) 4 omar income 028 25 sa76 an 293 Jrae tom ordinary atvies before nance costs and exept ie Be iatscts | eat eos see a7 ass : a : «6 |pnnce conte esr] rizos| asaraa] 39652 2.85350] [Prot fom ordinary aces ster fiance cons but belo «beg bese emt Micaerareer al esceptonl tem (5-6) ra aan 8 feceptonaitrs 3 : 9 |Poti from orcnary athe before tx (7 +8) rosaas| rasa} rans] 478890 1408.56 10 Tacoreme use| amaze] asnas| aera a3 11 nee prof rom orinary acts after x2 10) amir | soars} conzz | sara s7eaa 12 |estrorsrary tems (net ofa expense) 13 |net profi forthe period 18+ 12) sz) conan] sonra | saa7a7 s7e2s| [rot other comprehensive ince (net of aX as 14 se 2a 62s 45 [Tora comorehensve nome (13 +26) sor] cosa} cane | sons ones] 16 [sie ety share capa Face value R10 en) sree} 97ers] sere] arene ers earings par share (before extracrnay her) of R30 cach) WF | ct annualised) =) ease ee) os: os2 on ast a2 fe) ote rs os: a8 os 1st a2 csrings pr share (ner etraordinary tere) F* | cot anna a) acer ose os os ase 12 ey ote ny ose oe oss 1s 1 see accompanying notes tothe Francia Reps SIGNED FOR IDENTIFICATION =PRABHAT DAIRY LIMITED Registered ofice: At Ranjankhol, Tal -Rahata, Dist Ahmednagar, Pin - 413720, Maharashtra, Indi ‘CIN: U15203PN1999P1.C013068, Website : www-prabhatfresh.com, E-mail ID: investor @prabhatdairyn STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2016 UNAUDITED CONSOLIDATED STATEMENT OF ASSETS AND LIABLITIES AS AT 30 SEPTEMBER 2016 “Amount Rupees in Lakhs oe Partcors ‘sathall year ended No. 305092016, (navdited) lassers 1 |ron-curentassets Property plant and equipment 41339.28 |capiea! workin progrese 3,030.06 ntangbe assets 868 Financial assets Investments 02 Other nancial assets 3808 Jotnernan- :‘PRABHAT DAIRY LIMITED Registered office: At Ranjankhol, Tal - Rahata, Dist Ahmednagar, Pin - 413720, Maharashtra, India ‘in: u15203°N1998PL.C013068, Website : www prabhatfresh.com, E-mail ID: investor@prabhatdsiry ‘STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2016 ‘Notes to the Financial Results 4 The above unaudited consolidated financial results have been reviewed by the Audit Committee and thereafter approved and taken on record bythe Board of Directrsin their respective meetings held on November 1, 2016, These unaudited financial resus have been prepared in accordance withthe Ingia Accounting Standards ("ind-AS") as specified under Section 133 of the Companies Act, 2013 read withthe Rule 3 of the Companies (indian ‘counting Standards) Rules, 2015 and the Companies (Idan Accounting Standards) Amendment Rules, 2016 and the provisions of the Companies Ac, 2013 2 The Group adopted ind-A from April 1, 2036 and accordingly the transition was cried ou, rom the accounting principles general accepted in Indi 2s Specified under Section 133 ofthe Companies Act, 2013 read with Rule 7 ofthe Companies (Accounts) Rules, 2026 (IGAAP" or “previous GAAP, in Dccordance with nd-AS 101 - Fst time adoption of Indian Accounting Standards. Accordingly, the impact on transi has been recorded in opening reserves.as at Apr, 2035 and all the periods presented have been restated 3 The Statutory Auditors of the Company have conducted 2 limited review of the above unaudited consolidated financial results ofthe Group for the {quarter and sie months period ended September 20, 2016. A quoifed report has been issued by them thereon, in respect of non-recogition of Government Grants, 3 explained in nate 7 below, ‘4A fal dividend of Ro. 040 (Paise fourty enh) per equity share ofthe face value of Rs. 10 each forthe financial year 2015-18 was approved by the shareholders atthe Annual General Macting held on September 20,2026 and the sme was aid on October 20, 20%6. ‘5 As the Company completed it ntl Public OFfring ("190") in September 2035, the figures fr the quarter ended 30 September 2015 ae balancing figures between the unauited figures for the hal year ended 30 September 2025 and figures prepared by management forthe quater ended 30 June 201s 15 The figures forthe coresponding quarter and six months period ended September 20, 2015, inching the reconliation of profit under Ind AS of the «corresponding quarter/oeriod withthe profit reported under previous GAAP (as stated above}, have not been subjected to limited review or audit. The ‘management has exercised necessary de dilgence to ensute tat the Fanci resuts provide 3 rue and fir view ofits. 7 Sunfesh Agro industries Private Limited (a material subslslary company) has recived an Eligibility Certificate from the Department of Industies, Government of maharashra under the Package Scheme of incentive, 2007 pursuant to which the material subsidary company is eibe to receive benefits inthe form of Electricity Duty exemption, Stamp Duty exemption and Industral Promotion Subsiy (in form of refund of Value Added Tax and Central Sales Tan), subject to fulfilment of certain conditions under the scheme. These benefits are inthe nature of Government Grants in accordance with indian Accounting Standard Ind-AS) 20- Accounting for Government Grants and Disclosure of Government Assistance As per nd-AS 20, Government grants shall ot be recognized until theres reasonable assurance thatthe entty wll comply with the conditions attached to them; and the grants wil be received. At present, there is uncertainty ofthe timings ofthe actual receipt ofthe admitted claim from the Government, Which depends on a number of factors beyond the control of the material subsidiary company. Management believes that reasonable asiutance of receipt of grant wil be esabshed when the fst isbursament ofthe clans received bythe material subsidiary company. Therefore, as defined in nd £8820 for recognition of income on accrual bass, the materia subsilary company wll commence recognition of grant on accrual bass on receipt ofthe ‘5 The Group is primarily engaged inthe business of processing and manufacturing of mik and dairy products and therefore the Group is of the view tht revenue from processing and manufacturing of milk and dairy products is 9 single component of the Group for assessing its performance. Hence, processing and manufactring of milk and day products the only reportable segment 9 On October 08, 2015, a seareh was conducted by the income Tax Department pursuant to the provisions of section 132(4) and section 133A of the Income Tax Act 1961 atthe offices ofthe Company at Shrirampur, Pune and Navi Murti and leo atthe offices of the subsiciares ofthe Company and ‘the residence of Executive Directors residing at Shrirampur. The Company has not receved any demand notice with respect tthe search AUSNED: FOR IRENTIFICATION For 8 SR & Associates LLPPRABHAT DAIRY LIMITED Registered office: At Ranjankhol, Tal - Rahata, Dist Ahmednaga ‘ain: U15203°N1998P1C013068, Website : wwwprabhatiresh.com, E-mail I in - 413720, Maharashtr, India investor@prabhatdairy.in ‘STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2016 430 Reconliation of Profit, 2s previously reported under IGAAP to IndAS forthe quater and sk months ended September 30,2035; Rupees in lakhs = : For the quarter ended 30] Forthe sixmonthe ended 30 No. See September 2015 September 2015 ‘A_[Net Profit as per previous GAAP $65.0 a7 1 Jefect of transition to ind-AS on Statement of Prof Lore (46.6) an.07] L_etfect of measuring longterm borrowing at amortize cost i li. etfect of change in amortisation on ccount of measuring Property Plant 488 97 and Equipment PP) at fairvalue lu Remoasurement cost of net defined benef ability (a156) (saa) lw Deferred axes 97.00 20127 [otal Adjustment 23.71 33:50 ‘C_[Net Profit forthe period under nd-AS TB) 60.72 37621 1D [Tota other comprehensive income net of tx) 9.62 628 [Tota comprehensive income (+0). aise aa2.08 u 2 Previous periods figures have been regrouped / reclassified wherever necessary to correspond with the current period's casifcation /dsclesue Utlstion of funds raed through nial Public Offering (PO) of equity shares upto 30 September, 2016 2 olows: lace: Navi Mumbai Date : November 14, 2016 SIGuED FOR IDENTIFICATION For BSR & Associates LLP fs. Parca Rupees lathe 1 [ise proceeds 30,600.05 2 Jles: Repayment of term oan from ndastar for Frathat Day United 4620.00 3 |les:lnfuston of funds in Sunfresh Agro ndustes Private Limited by way of sobeenption to Ws equity shares oa jwhich Rs 13,880.00 lakhs nave been utilised towards repayment of term loan from indostar Capital Fnanc| 1738620 timited and Rs 2808.7 lakhs have been utlised towards capital expanclture 4 [less Fund ulised for payment of expense in relation to PO een "Sts: Fond uae for General corporate purpose ‘en JUnvtiized balance For Prabhat Dairy Limited ee Wr. Vivek Nirmat Managing Director