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CFL/SEC/SE/PS/2019-20/MAY/02 Date: May 15, 2019

The Manager (Listing)Bombay Stock Exchange LimitedPhiroze Jeejeebhoy Towers,Dalal Street,Mumbai-400001Scrip Code: 508814

The Manager (Listing)National Stock Exchange of India Ltd.Exchange Plaza,Plot no. C/1,G Block,Bandra - Kurla ComplexMumbai-400 051Security ID: "COSMOFILMS"

Sub: Audited Financial Results and Outcome of Board MeetinsDear Sir,

Pursuant to Regulation 30 & 33 ofSEBI (Listing Obligations and Disclosure Requirements) Regulations,2015, this is to inform that the Board of Directors of the Company at its meeting held today i.e. 15 May,2019, has inter alia approved the following:

1. Audited Financial Results of the Company for the Quarter and Year ended as on 31 March, 2019The Financial Results were duly reviewed by the Audit Committee and thereafter approved by theBoard of Directors of the Company.

The above Financial Results are enclosed herewith along with a declaration on Auditor's Report withunmodified opinion.

2. Recommendation affinal dividend (F.Y 2018-19) on the Equity Shares of the Company @ 60% i.e.Rs. 61- per equity share. The dividend on Equity Share, shall be paid within 30 (thirty) days from theConclusion of the ensuing Annual General Meeting, the date of which will be intimated in duecourse.

Subject to the approval of the Shareholders at the ensuing Annual General Meeting, the Board has furtherapproved:

a) Re-appointment of Mr. Anil Kumar Jain (DDsf: 00027911 ) as Whole time Director of the Companyw.e.f 1 October, 2019, for a term of 5 years.

Name of Director & DW \ Mr. Anil Kumar Jain (DIN: 00027911 )Reason for Change Re-appointmentDate &Appointment

term of Mr. Anil Kumar Jain is being re-appointed as Whole time Directorof the Company w.e.f I October, 2019, for a term of 5 years.

Brief Profile Mr. Anil Kumar Jain has over four decades of experience inFinance, Accounts and General Management functions, havingworked with Mawana Sugars, A.F Ferguson & Co and NationalMineral Development Corporation in the past. Currently, he is theDirector of Corporate Affairs ofCosmo Films.

He holds a Commerce degree from Meerut University and anAICWA from ICWAI. He is also a Certified Information SystemAuditor from Information System Audit and Control Association,USA.

Disclosure of relationshipwith Directors

Mr. Jain is not related to any other Director of the Company.

CIN : L92114DL1976PLC008355 Cosmo Films Limited1008, DLFTower-A, Jasola District Centre, New Delhi - 110025, India.

T : +91 11 49494949 F : +91 11 49494950 www.cosmofilms.com

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b) Re-appointment of Mr. Har Kishanlal Agrawal (DIN: 00260592 ) as Independent Director of theCompany w.e.f. the date of ensuing AGM, for a second term of 5 years.

Name of Director & DIN | Mr. Har Kishanlal Agrawal (DIN: 00260592 )Reason for Change Re-appointmentDate &

Appointmentterm of Mr. Har Kishanlal Agrawal is being re-appointed as Independent

Director of the Company for a second term of 5 years coiTUTiencingfrom the date of ensuing AGM.

Brief Pro file Mr. Har Kishanlal Agrawal has been in fields of StrategicManagement, Organization Structure, Finance and Training forover four decades. He is an independent management consultantand has consulted several multinationals, large Indian corporate,small entrepreneurial organizations and developmental institutions.He has previously worked in large industrial organizations, both inpublic and private sectors in India, for a duration of thirteen years.

He is a Mechanical Engineer from University of Jodhpur and hasobtained his MBA from Indian Institute of Management,Ahmedabad.


Mr. Agrawal is not related to any other Director of the Company.

c) Re-appointment of Mr. Hoshang Noshirwan Sinor (DFN: 00074905) as Independent Director of theCompany w.e.f. 22nd May, 2020, for a second term of 5 years.

Name of Director & DFN | Mr. Hoshang Noshinvan Sinor (DLN: 00074905)reason for Change Re-appointmentDate &Appointment

temi of Mr. Hoshang Noshirwan Sinor is being re-appointed asIndependent Director of the Company for a second tenn of 5 yearscommencing from the end of his first term viz. 22nd May, 2020

Brief Profile Mr. H. N. Sinor has been a veteran banker, having spent over fourdecades in public as well as private sector banks like Union Bankof India, Central Bank of India and ICICI Bank. He was MD andCEO of ICICI Bank and after ICICI's merger with ICICI Bank,became Joint MD until his superaniiuation. He, thereafter, joinedIndian Banks' Association as Chief Executive. Mr. Sinor laterjoined Association of Mutual Funds in India in a similar capacity.Being a veteran banker, Mr. Sinor has worked on a number ofCommittees at a policy level during his long career.

He holds Board position as an Independent Director on a fewreputed companies. He is also associated with various charitableand other trusts engaged in social activities.


Mr. Sinor is not related to any other Director of the Company.

CIN : L92n4DL1976PLC008355 Cosmo Films Limited1008, DLF Tower-A, Jasola District Centre, New Delhi - 110025, India.


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d) Change in classification of Ms. Alpana Parida Shah (DW: 06796621), Non-Executive Non-Independent Director as Non-executive Independent Director of the Company, w.e.f. 15th May,2019,fora term of 5 years.

Name of Director & DIN Ms. Alpana Panda Shah (DIN: 06796621),Reason for Change Change in classificationDate &

Appointmentterm of Category of Ms. Alpana Panda Shah is being changed from Non-

Executive Non-independent Director to Non-ExecutiveIndependent Director.Her tenure will be of 5 years from 15"' May, 2019 to 14th May,2024.

Brief Profile Ms. Alpana Parida has more than two decades of experience inretail and marketing communications in the US and in India.Currently she is the President of DY Works, India's oldest andlargest branding finn. Prior to that she was Head of Marketing withTanishq, a prominent jewellery brand in India. She conductsbranding workshops for large corporates.

She graduated from IIM-Ahmedabad in 1985 and has a degree inEconomics from St. Stephens, Delhi University.


Ms. Panda is not related to any other Director of the Company.

e) Change in classification of Mr. Rajeev Gup ta (DFN: 00241501) from Non-Executive IndependentDirector to Non-Executive Non-independent Director of the Company w.e.f. 15th May, 2019.

Name of Director & DIN Mr. Rajeev Gupta (DIN: 00241501)Reason for Change Change in classificationDate &Appointment

teiTn of Category of Mr. Rajeev Gupta is being changed from Non-Executive Independent Director to Non-Executive Non-Independent Director w.e.f. 15th May, 2019.

Brief Pro file Mr. Rajeev Gupta is known for his pioneering leadership style inconcluding landmark mergers and acquisition deals across Indianindustries and multinationals. Until recently he was the ManagingDirector of Carlyle Asia Partners and the Head of the Carlyle IndiaBuyout team. Previously he was a Board member and Head ofInvestment Banking ofDSP Merrill Lynch Limited.

Mr. Gupta earned his B.Tech from IIT-Banaras Hindu Universityand an M.B.A. from the Indian Institute of Management,Ahmedabad.


MT. Gupta is not related to any other Director of the Company.

f) Change in classification of Mr. Pratip Chaudhuri (DIN: 00915201) from Non-Executive IndependentDirector to Non-Executive Non-independent Director of the Company w.e.f. 15'h May, 2019.

Name of Director & DIN Mr. Pratip Chaudhuri (DIN: 00915201)Reason for Change Change in classificationDate & termAppointment

of Category of Mr. Pratip Chaudhuri is being changed from Non-Executive Independent Director to Non-Executive Non-


T : +91 n 49494949 p : +gi n 49494950 www.cosmofilms.com

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Independent Director w.e.f. 151h May, 2019.Brief Profile Mr. Pratip Chaudhuri is a Certified Associate of Indian Institute of

Bankers (CAIIB) and retired as Chairman of State Bank of India,which is one of India's largest banks. He has extensive experiencein the fields of Corporate Finance, Treasury, Asset Managementand International Banking. He has also been the Chairman of SBILife Insurance Company Ltd, SBI Mutual Fund, SBI Pension Fundand other subsidiaries of SBI. He was also on the Board of EximBank of India.

He holds a BSc. (Hons) Degree from St. Stephen's College, DelhiUniversity. He is also a Master in Business Administration fromUniversity Business School, Chandigarh.


Mr. Chaudhuri is not related to any other Director of the Company.

None of the above Director is debarred from holding the office of Director by virtue of any SEBI order orany other such authority.

End of Tenure

In terms of Shareholders approval, the five year term of Mr. Ashish Kumar Guha (DFN: 00004364) as anIndependent Director of the Company will end at the date of ensuing AGM. He has expressed hisunwillingness to continue for the second temi due to his increased commitments. Hence, the tenure of Mr.Ashish Guha, Director of the Company shall come to end w.e.f. the date of ensuing AGM.

The Meeting commenced at 02:00 P.M. and concluded at^l^OP.M.

You are requested to take the same on your records.

Thanking You

Yours faithfullyFo^Cosmo Films Limited

Jyo'tCorn yly Secretary & Compliance Officer

Enclosure: as above



Walker Chandiok^Co LLP

Walker ChandiokS Co LLP(Formerly Walker, Chandiok & Co)L-41 Connaught CircusNew Delhi 110001India

T+91 1142787070F+91 1142787071

Independent Auditor's Report on Standalone Financial Results of Cosmo Films Limitedpursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015

To the Board of Directors of Cosmo Films Limited

1. We have audited the standalone financial results of Cosmo Films Limited ('the Company') for the yearended 31 March 2019, being submitted by the Company pursuant to the requirement of Regulation 33of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Attention is drawnto Note 1 to the standalone financial results which states that the figures for the quarter ended 31 March2019 as reported in these standalone financial results, are the balancing figures between auditedstandalone figures in respect of the full financial year and the published standalone year to date figuresup to the end of the third quarter of the financial year. Also, the figures up to the end of the third quarterhad only been reviewed and not subjected to audit. These standalone financial results are based onthe standalone financial statements for the year ended 31 March 2019 prepared in accordance with theaccounting principles generally accepted in India, including Indian Accounting Standards ('Ind AS')specified under Section 133 of the Companies Act, 2013 ('the Act') and published standalone year todate figures up to the end of the third quarter of the financial year prepared in accordance with therecognition and measurement principles laid down in Ind AS 34, Interim Financial Reporting, specifiedunder Section 133 of the Act, and SEBI Circulars CIR/CFD/CMD/15/2015 dated 30 November 2015and CIR/CFD/FAC/62/2016 dated 5 July 2016, which are the responsibility of the Company'smanagement. Our responsibility is to express an opinion on these standalone financial results basedon our audit of the standalone financial statements for the year ended 31 March 2019 and our reviewof standalone financial results for the nine months period ended 31 December 2018.

2. We conducted our audit in accordance with the auditing standards generally accepted in India. Thosestandards require that we plan and perform the audit to obtain reasonable assurance about whetherthe financial results are free of material misstatements. An audit includes examining, on a test basis,evidence supporting the amounts disclosed as financial results. An audit also includes assessing theaccounting principles used and significant estimates made by management. We believe that our auditprovides a reasonable basis for our opinion.

3. In our opinion and to the best of our information and according to the explanations given to us, thestandalone financial results:

(i) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligationsand Disclosure Requirements) Regulations, 2015, read with SEBIdated 30 November 2015 and CIR/CFD/FAC/62/2016 dated

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Walker Chandiok&CoLLP

(ii) give a true and fair view of the standalone net profit (including other comprehensive income) andother financial information in conformity with the accounting principles generally accepted in Indiaincluding I nd AS specified under Section 133 of the Act for the year ended 31 March 2019.

For Walker Chandiok & Co LLPChartered AccountantsFirm Registration No.: 001076N/N500013

^^~Siddharth TalwarPartnerMembership No. 512752

Place: New DelhiDate: 15 May 2019

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COSMO FILMS LIMITEDAUDITED STANDALONE FINANCIAL RESULTS

(Rs in Crores)

S.No Particulars

3 months ended

31.03.2019Refer Note-1

31.12.2018Reviewed

Year ended


31.03.2019Audited

31.03.2018Audited

II

IllIV

vVI

a)

b)

VIIVIIIIXx

Income:

a) Revenue from operations (gross)b) Other income

Total incomeExpenses:

a) Cost of materials consumedb) Purchase of traded goodsc) Changes in inventories of finished goods

and stock-in-trade

d) Excise dutye) Employee benefits expensesf) Depreciation and amortisation expensesg) Finance costsh) Allowance for expected credit lossesi) Other expenses

Total expensesProfit before tax (1-11)Tax expense:

a) Current taxb) Deferred tax expense/ (credit)

Income tax expenseNet Profit for the period (111-IV)Other comprehensive incomei) Items that will not be redassified to profit or toss

income tax related to above

i) Items that will be reclassified to profit or lossincome tax related to above

Total other comprehensive income/floss) (net of tax)Total comprehensive income for the period (V+VI)Paid - up equity share capital (Face Value Rs.10)Other equity as per balance sheetEarning per share for the period (of Rs 10/- each)(notannualised)

BasicDiluted

522.354.23

526.58

369.88

6.15

23.8912.4910.44(0.29)69.34

491.9034.68

4.731.326.05

28.63

(0.43)0.159.16

(3.17)5.71

34.3319.44

14.9414.94

535.643.35

538.99

395.30

22.31

23.2811.7311.020.25

68.41532.30

6.69

1.39(3.50)(2.11)8.80

0.13(0.05)7.81

(2.75)5.14

13.9419.44

4.594,59

463.863.83

467.69

346.381.550.01

20.2611.5313.09(0.07)57.06

449.8117.88

4.35(15.73)(11.38)29.26

(0.10)0.03

(5.98)1.78

(4.27)24.9919.44

15.2715.27

2,050.3911.56

2,061.95

1,529,82

15.55

91.8248.0351.670.34

255231,992.46

69.49

12.11(1,00)11.1158.38

(0,03)0,01

18.05(6.30)11.7370.1119.44

675.85

30.4630.46

1,779.0734.84

1,813.91

1,276.765.006.59

30.4686.7945.5050.120.75

226.471,728.44

85.47

15.33(14.75)1

0.5884.89

0.54(0.19)1(5.08)11.78

(2.95)181.9419.44

617.64

44.3044.30

SIGNED FORIDENTIFICATION

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STATEMENT OF ASSETS AND LIABILITIES

S.No. Particulars

STANDALONEAs at

31.03.2019(Audited)

STANDALONE IAs at

31.03.2018(Audited)

A1

2

B1

2

3

ASSETSNon-current assetsa) Property, plant and equipmentb) Capital work-in-progressc) Intangible assetsd) Financial assets

(i) Investments(ii) Loans(iii) Other financial assets

e) Deferred tax assets (net)f) Income tax assets (net)g) Other non-current assetsTotal non-current assets

Current assetsa) Inventoriesb) Financial assets

(i) Investments(ii) Trade receivables(iii) Cash and cash equivalents(iv) Bank balance other than (iii) above(v) Loans(vi) Other financial assets

c) Other current assetsTotal current assets

Total assets

EQUITY AND LIABILITIESEquitya) Equity share capitalb) Other equityTotal equity

Non-current liabilitiesa) Financial liabilities

(i) Borrowings(ii) Other financial liabilities

b) Deferred tax liabilities (net)c) Other non-current liabilitiesTotal non-current liabilities

Current liabilitiesa) Financial liabilities

(i) Borrowings(ii) Trade payables

(a) Total outstanding dues of micro enterprises andsmall enterprises

(b) Total outstanding dues of creditors other than microenterprises and small enterprises

(iii) Other financial liabilitiesb) Provisionsc) Other current liabilities ^(UNED If ORd) Current tax liabilities (net)Total current liabilities

PU^PQSfesTotal equity and liabilities X-YEO

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943.6139.963.10

115.3910.718.28

12.2046.97

1,180.22

171.78

77.23206.0543.3928.680.79

47.7136.96

612.59

1,792.81

19.44675.85695.29

431.94

46.8852.96

531.78

202.18

0.13

190.08

156.590.26

15.121.38

565.74

1,792.81'

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931.8812.393.09

115.3910.255.87

9.3439.65

1,127.86

184.46

57.82209.0425.989.460.80

37.2135.62

560.40

1,688.26

19.44617.64637.08

405.315.62

41.5855.85

508.36

209.67

1.75

180.27

135.97

14.450.71

542.82

\^\ 1,688.26* ;

Notes:1 The above audited financial results were reviewed by the Audit Committee and approved by the Board of Directors on 15th May 2019. Figures for the

quarter ended 31st March 2019 and 31st March 2018 are the balancing figures for the full financial year ended 31st March 2019 and 31st March 2018and the published year to date figures upto the third quarter of the respective financial years.

2 These financial results have been prepared in accordance with the recognition and measurement principles of applicable Indian Accounting Standards('Ind AS") notified under the Companies (Indian Accounting Standards) Rules, 2015 as specified in section 133 of the Companies Act, 2013.

3 According to the requirements of Ind-AS and SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, revenue for the year ended31st March 2018 were reported inclusive of Excise Duty. The Goverment of India has implemented Goods and Service Tax (GST) from 1st July 2017replacing Excise Duty, Service Tax and various other indirect taxes. As per Ind-AS, the revenue for the periods post 1st July 2017 are reported net ofGST. Had the previously reported revenue shown net of excise duty, comparative revenue of the Company would have been as follows:

Particulars3 months ended


31.12.2018Reviewed

Year ended31.03.2018 | 31.03.2019

Refer Note-1 Audited31.03.2018

AuditedNet Sales/Revenue from Operations (Net of Excise Duty) 522.35 535.64 463.86 2,050.39 1,748.61

4 Other income includes sales tax exemption recomputation benefit related to previous years as under:



31.12.2018Reviewed

Year ended31.03.2018 I 31.03.2019

Refer Note-1 Audited31.03.2018

AuditedOther Income 14.59

5 The above results includes Qains/(loss) due to foreign exchange rate fluctuations on foreign currency borrowings as under:


Refer Note-1 I Reviewed I Refer Note-131.03.2019 | 31.12.2018 | 31.03.2018 | 31.03.2019

Year ended

Audited31.03.2018

AuditedCost of Material Consumed 2.77 2.77Other lncome/(Expenses) (1.64) (4.49) 4.09 (6.43) 8.71Finance Cost 0.53 (0.30) (8.25) (11.66)

6

7

The Company has adopted Ind AS 115 "Revenue from contracts with customers" applying a full retrospective transition approach, which replacesearlier revenue recognition standard. The Company has assessed that, in case of certain contracts with customers, some performance obligationscomprise arranging for another party to provide certain services to the customers. Accordingly, revenue for such performance obligations isrecognized as the difference between the consideration allocated for services provided to customers and the related costs for arranging the same.However, there is no impact on retained earnings or profit for the respective periods.

The restated revenue for the quarter ended 31st March 2018 and year ended 31st March 2018 are lower by Rs 22.38 crore and Rs 77.98 croresrespectively with the corresponding decrease in other expenses.

The Board of Directors had recommended dividend of Rs 6 per equity share for the financial year FY 18-19 subject to approval of shareholders inannual general meeting.

8 Tax expenses for the period ended 31st March 2018 include Rs 16 crores being partial reversal of deferred capital gain tax consequent to change inbase year from 1981 to 2001 and other tax adjustments.

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Walker ChandiokS Co LLP(Formerly Walker, Chandiok & Co)L-41 Connaught CircusNew Delhi 110001India

T+91 1142787070F+91 1142787071

Independent Auditor's Report on Consolidated Financial Results ofCosmo Films Limited pursuantto the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015

To the Board of Directors of Cosmo Films Limited

1. We have audited the consolidated financial results of Cosmo Films Limited ('the Holding Company') andits subsidiaries (the Holding Company and its subsidiaries together referred to as 'the Group') for the yearended 31 March 2019, being submitted by the Holding Company pursuant to the requirement of Regulation33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Attention is drawnto Note 1 to the consolidated financial results regarding the figures for the quarter ended 31 March 2019as reported in these consolidated financial results, which are the balancing figures between auditedconsolidated figures in respect of the full financial year and the published consolidated year to date figuresup to the end of the third quarter of the financial year. Also, the figures up to the end of the third quarterhad only been reviewed and not subjected to audit. These consolidated financial results are based on theconsolidated financial statements for the year ended 31 March 2019 prepared in accordance with theaccounting principles generally accepted in India, including Indian Accounting Standards ('Ind AS')specified under Section 133 of the Companies Act, 2013 ('the Act') and published consolidated year todate figures up to the end of the third quarter of the financial year prepared in accordance with therecognition and measurement principles laid down in Ind AS 34, Interim Financial Reporting, specifiedunder Section 133 of the Act, and SEBI Circulars CIR/CFD/CMD/15/2015 dated 30 November 2015CIR/CFD/FAC/62/2016 dated 5 July 2016, which are the responsibility of the Holding Company'smanagement. Our responsibility is to express an opinion on these consolidated financial results based onour audit of the consolidated financial statements for the year ended 31 March 2019 and our review ofconsolidated financial results for the nine months period ended 31 December 2018.

2. We conducted our audit in accordance with the auditing standards generally accepted in India. Thosestandards require that we plan and perform the audit to obtain reasonable assurance about whether thefinancial results are free of material misstatements. An audit includes examining, on a test basis, evidencesupporting the amounts disclosed as financial results. An audit also includes assessing the accountingprinciples used and significant estimates made by management. We believe that our audit provides areasonable basis for our opinion.

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Offices in Bengaluru, Chandigarh Chennai, Gurgaon, Hyderabad, Kolkata, Mumbai, New Delhi, Noida and Pune

Walker Chandiok & Co LLP is registered with limited liabilitywith identification number MC-2085 and its registeredoffice at L-41 Connaught Circus, New Delhi, 110001, India

Walker Chandiok&CoLLP

3.

4.

5.

In our opinion and to the best of our information and according to the explanations given to us and basedon the consideration of the reports of other auditors on separate financial results and on other financialinformation of the subsidiaries, the consolidated financial results:

(i) include the financial results for the year ended 31 March 2019, of the following entities:

Subsidiaries:a. Cosmo Films Singapore Pte Ltd.b. Cosmo Films Korea Limitedc. Cosmo Films Japan, GKd. CF (Netherlands) Holdings Ltd B.V.e. Cosmo Films Inc.f. CF Investment Holding Private (Thailand) Company Limitedg. Cosmo Films Poland Sp Z.0.0.

(ii) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligationsand Disclosure Requirements) Regulations, 2015, read with SEBI Circulars CIR/CFD/CMD/15/2015dated 30 November 2015 and CIR/CFD/FAC/62/2016 dated 5 July 2016 in this regard; and

(iii) give a true and fair view of the consolidated net profit (including other comprehensive income) andother financial information in conformity with the accounting principles generally accepted in Indiaincluding I nd AS specified under Section 133 of the Act for the year ended 31 March 2019.

We did not audit the financial statements of three subsidiaries, whose financial statements reflect totalassets of ?180.85 crores and net assets of ?42.71 crores as at 31 March 2019, and total revenues of?305.25 crores for the year ended on that date, as considered in the consolidated financial results. Thesefinancial statements have been audited by other auditors whose reports have been furnished to us by themanagement and our opinion on the consolidated financial results, in so far as it relates to the amountsand disclosures included in respect of these subsidiaries, and our report in terms of Regulation 33 of theSEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI CircularsCIR/CFD/CMD/15/2015 dated 30 November 2015 and CIR/CFD/FAC/62/2016 dated 5 July 2016, in sofar as it relates to the aforesaid subsidiaries are based solely on the reports of such other auditors.

Further, of these subsidiaries two subsidiaries are located outside India whose financial statements andother financial information have been prepared in accordance with accounting principles generallyaccepted in their respective countries and which have been audited by other auditors under generallyaccepted auditing standards applicable in their respective countries. The hlolding Company's managementhas converted the financial statements of such subsidiaries located outside India from accountingprinciples generally accepted in their respective countries to accounting principles generally accepted inIndia. We have audited these conversion adjustments made by the Holding Company's management. Ouropinion, in so far as it relates to the financial information of such subsidiaries located outside India, isbased on the report of other auditors and the conversion adjustments prepared by the management of theHolding Company and audited by us.

Our opinion on the consolidated financial results is not modified in respect of this matter with respect toour reliance on the work done by and the report of the other auditors.

We did not audit the financial information of four subsidiaries whose financial information reflect total assetsof ?296.21 crores and net assets of ?270.16 crores as at 31 March 2019, and total revenues of ?81.19crores for the year ended on that date, as considered in the consolidated financial results. These financialinformation are unaudited and have been furnished to us by the management and our opinion on theconsolidated financial results, in so far as it relates to the amounts and disclosures included in respect ofthese subsidiaries, and our report in terms of Regulation 33 of the SEBI (Listing Obligations and DisclosureRequirements) Regulations, 2015, read with SEBI Circulars CIR/CFD/CMD/15/2015 dated 30 November2015 and CIR/CFD/FAC/62/2016 dated 5 July 2016, in so far as it relates to the aforesaid subsidiaries arebased solely on such unaudited financial information. In our opinion and according to the information andexplanations given to us by the management, these financial information are notjjia^flal to the Group.


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Our opinion on the consolidated financial results is not modified in respect of this matter with respect toour reliance on the financial information certified by the management.

For Walker Chandiok & Co LLPChartered AccountantsFirm Registration No.: 001076N/N500013

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Siddharth TalwarPartnerMembership No. 512752

Place: New DelhiDate: 15 May 2019

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COSMO FILMS LIMITEDAUDITED CONSOLIDATED FINANCIAL RESULTS

S.No Particulars

3 months ended

31,03.2019Refer Note-1

31.12.2018Reviewed

31.03.2018

(Rs in Crores)Year ended


IllIV

vVIa)

b)

VIIVIIIIXx

Income:

a) Revenue from operations (gross)b) Other income

Total income

Expenses:a) Cost of materials consumedb) Purchase of traded goods

c) Changes in inventories of finished goodsand stock-in-trade

d) Excise dutye) Employee benefits expensesf) Depreciation and amortisation expenses

g) Finance costs

h) Allowance for expected credit losses

i) Other expensesTotal expensesProfit before tax (1-11)Tax expense:

a) Current taxb) Deferred tax expense/ (credit)

Income tax expenseNet Profit for the period (111-IV)Other comprehensive incomei) Items that will not be reclassified to profit or loss

income tax related to above

i) Items that will be reclassified to profit or lossincome tax related to above

Total other comprehensive income/floss) (net of tax)Total comprehensive income for the period (V+VI)Paid - up equity share capital (Face Value Rs.10)Other equity as per balance sheetEarning per share for the period (of Rs 10/-each)(not annualised)

Basic

Diluted

549.844.58

554.42

374.390.26

10.53

33.3713.6111.290.25

77.18520.8833.54

4.701.275.97

27.57

(0.43)0.155.84

(3.18)2.38

29.9519.44

14.3814.38

557.7111.30

569.01

398.880.24

23.59

33.1213.2512.010.53

76.33557.9511.06

1.41(3.67)(2.26)13.32

0.13(0.05)3.83

(2.73)1.18

14.5019.44

6.956.95

501.985.48

507.46

364.440.32

6.45

30.9212.9713.930.42

66.25495.7011.76

4.17(17.46)(13.29)25.05

(0.10)0.03

(2.55)2.20

(0.42)24.6319.44

13.0813.08

Audited

31.03.2018Audited

2,156.5220.15

2,176.67

1,562.950.92

12.99

131.40

53.7655.970.69

286.352,105.03

71.64

12.09(1.56)10.5361.11

(0.03)0.01

17.78(6.39)11.3772.4819.44

660.80

31.8931.89

1.876.9834.51

1,911.49

1.331.481.63

(8.42)30.46

129.9851.2152.381.18

257.591,847.49

64.00

15.82(16.25)(0.43)64.43

0.54(0.19)(0.12)2.202.43

66.8619.44

600.22

33.6233.62

REPORTING OF SEGMENTWISE REVENUE, RESULTS AND CAPITAL EMPLOYED

Particulars

3 months ended Year ended

31.03.2019

Refer Note-1

31.12.2018Reviewed


31.03.2019

Audited

31.03.2018Audited

a) Segment revenuePackaging filmsOthersSub totalLess: Inter segment revenueTotal

b) Segment resultsProfit before tax and interest

Packaging filmsOthersSub TotalLess: Finance costsLess; Unallocable expenses net of unallocable incomeProfit from ordinary activity before tax

c) Capital employedSegment assets

Packaging filmsOthersUnallocated

Total

Segment liabilityPackaging filmsOthers

Unallocated

Total

Segment capital employedPackaging filmsOthers

Unallocated

TotalSIGNED ^D^

549.330.51

549.84

549.84

47.650.14

47.7911.292.96

33.54

1,663.172.26

207.821,873.25

332.07

1.38333.45

1,331.102.26

206.441,539.80

557.230.48

557.71

557.71

24.420.22

24.6412.011.57

11.06

1.701.212.28

118.911,822.40

327.90

1.90329.80

1,373.312.28

117.011,492.60

501.470.51

501.98

501.98

27.030.17

27.2013.931.51

11.76

1,616.502.71

146.441,765.65

317.25

2,152.673.85

2,156.52

2,156.52

134.301.00

135.3055.977.69

71.64

1,663.172.26

207.821,873.25

332.07

IDENTIFICATIONPURPOSES

1.13 1.38

318.38 333.45

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0

/^. ^71

2oi^^f5;1,4^7.27 1,5391.80

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§^@•<

1,842.034.49

1,846.52

1,846.52

123.800.94

124.7452.388.36

64.00

1,616.502.71

146.44

1,765.65

317.25

1.13318.38

1,299.252.71

145.311,447.27

-Y E6^»

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0^%•y

STATEMENT OF ASSETS AND LIABILITIES

IS.NO. Particulars

CONSOLIDATEDAs at

31.03.2019(Audited)

CONSOLIDATEDAs at

31.03.2018(Audited)

A1

2

B1

2

3

ASSETSNon-current assets

a) Property, plant and equipmentb) Capital work-in-progressc) Investment propertyd) Intangible assetse) Financial assets

(i) Investments(ii) Loans(iii) Other financial assets

f) Deferred tax assets (net)g) Income tax assets (net)h) Other non-current assets

Total non-current assets

Current assets

a) Inventoriesb) Financial assets

(i) Investments(ii) Trade receivables(iii) Cash and cash equivalents(iv) Bank balance other than (iii) above(v)Loans(vi) Other financial assets

c) Other current assetsTotal current assets

Total assets

EQUITY AND LIABILITIESEquitya) Equity share capitalb) Other equity

Equity

Non-current liabilitiesa) Financial liabilities(i) Borrowings

(ii) Other financial liabilitiesb) Provisionsc) Deferred tax liabilities (net)d) Other non-current liabilitiesTotal non-current liabilities

Current liabilities

a) Financial liabilities(i) Borrowings(ii) Trade payables

(a) Total outstanding dues of micro enterprises andsmall enterprises

(b) Total outstanding dues of creditors other than microenterprises and small enterprises

(iii) Other financial liabilitiesb) Provisionsc) Other current liabilitiesd) Current tax liabilities (net)Total current liabilities

Total Equity and Liabilities

980.6532.3329.463.10

0.1710.718.284.68

12.4648.99

1,130.83

277.77

77.23209.1457.2528.682.22

47.7142.41

742.41

1,873.24

19.44660.80680.24

431.94

4.1846.8852.96

535.96

271.62

0.13

202.05

162.520.26

19.081.38

657.04

1,873.24

990.9512.3929.283.09

0.1710.255.873.149.34

40.891,105.37

282.05

57.82192.0840.019.461.65

38.0339.18

660.28

1,765.65

19.44600.22619.66

405.315.623.68

40.4955.85

510.95

287.15

1.75

187.27

141.37

16.361.13

635.04

1,765.65

SIGNED FORIDENTIFICATION

PURPOSES

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Notes;

1 The above audited financial results were reviewed by the Audit Committee and approved by the Board of Directors on 15th May 2019. Figures for the quarterended 31st March 2019 and 31s1 March 2018 are the balancing figures for the full financial year ended 31st March 2019 and 31st March 2018 and thepublished year to date figures upto the third quarter of the respective financial years.

2 These financial results have been prepared in accordance with the recognition and measurement principles of applicable Indian Accounting Standards ('IndAS') notified under the Companies (Indian Accounting Standards) Rules, 2015 as specified in section 133 of the Companies Act, 2013.

3 According to the requirements of Ind-AS and SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, revenue for the year ended 31stMarch 2018 were reported inclusive of Excise Duty. The Goverment of India has implemented Goods and Service Tax (GST) from 1st July 2017 replacingExcise Duty. Sen/ice Tax and various other indirect taxes. As per Ind-AS, the revenue for the periods post 1st July 2017 are reported net of GST. Had thepreviously reported revenue shown net of excise duty, comparative revenue of the Company would have been as follows:



31.12.2018Reviewed

31.03.2018Year ended

31.03.2019Refer Note-1 Audited

31.03.2018Audited

Net Sales/Revenue from Operations (Net of Excise Duty) 549.84 557.71 501.98 2,156.52 1,846.52

4 Other income includes sales tax exemption recomputation benefit related to previous years as under



31.12.2018Reviewed

31.03.2018Year ended

31.03.2019Refer Note-1 Audited

31.03.2018Audited

Other Income 14.59

5 The above results includes aains/doss) due to foreign exchange rate fluctuations on foreign currency borrowings as under:


Refer Note-1 I Reviewed I Refer Note-131.03.2019 I 31.12.2018 I 31.03.2018 I 31.03.2019

Year ended

Audited31.03.2018Audited

Cost of Material consumed 2.77 2.77Other lncome/(Expenses) (1.50) (4.77) 4.09 (6.02) 8.98Finance Cost 0.53 (0.44) (8.25) (11.66)

6 The Company has adopted Ind AS 115 "Revenue from contracts with customers" applying a full retrospective transition approach, which replaces earlierrevenue recognition standard. The Company has assessed that, in case of certain contracts with customers, some performance obligations comprise arrangingfor another party to provide certain services to the customers. Accordingly, revenue for such performance obligations is recognized as the difference betweenthe consideration allocated for services provided to customers and the related costs for arranging the same. However, there is no impact on retained earningsor profit for the respective periods.

The restated revenue for the quarter ended 31st March 2018 and year ended 31st March 2018 are lower by Rs 25.13 crore and Rs 89.71 crores respectivelywith the corresponding decrease in other expenses.

7 The Board of Directors had recommended dividend of Rs 6 per equity share for the financial year FY 18-19 subject to approval of shareholders in annualgeneral meeting.

Tax expenses for the period ended 31 st March 2018 include Rs 16 crores being partial reversal of deferred capital gain tax consequent to change in base yearfrom 1981 to 2001 and other tax adjustments.

9 Key numbers of Standalone financial results are as given below. The standalone financial results are available at Company's website.


Refer Note-1 I Reviewed I Refer Note-131.03.2019 | 31.12.2018 | 31.03.2018 | 31.03.2019 | 31.03.2018

Year ended

Audited _AyditedIncome from operation (Gross Sales) 522.35 535.64 463.86 2,050.39 1.779.07ProfiU(Loss) from ordinary activity before tax 34.68 6,69 17.88 69.49 85.47Profit/(Loss) from ordinary activity after tax 28.63 8.80 29.26 58.38 84.89

New Delhi15th May 2019

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'ASHOK JAIPURIACHAIRMAN

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Fl^ C05MO FILMS9SSI Engineered to Enhance

CFL/SEC/SE/PS/2019-20/DECLARATION Date: May 15, 2019

[The Manager (Listing)[Bombay Stock Exchange LimitedpPhiroze Jeejeebhoy Towers,palal Street,IMumbai-400001

|Scrip Code: 508814

[The Manager (Listing)rational Stock Exchange of India Ltd.exchange Plaza,plot no. C/1,G Block,pandra - Kurla ComplexKumbai-400051

Security ID: "COSMOFILMS"

SUB: DECLARATION WITH RESPECT TO AUDIT REPORT WITH UNMODIFIEDOPINION FOR THE FINANCIAL YEAR ENDED MARCH 31, 2019

Dear Sir

Pursuant to clause 4.1 ofSEBI Circular No. CII^/CFD/CMD/56/2016 dated May 27, 2016 we herebydeclare that the Statutory Auditors of the Company M/s. Walker Chandiok & Co. LLP, CharteredAccountants, have issued the Audit Report with unmodified opinion on the Standalone andConsolidated Financial Results of the Company for the Financial Year ended on March 31, 2019 asper Regulation 33(3)(d) of SEBI (LODR) Regulations, 2015.

You are requested to take note of the above.

Thanking You,for Cosmo Films Limited

^:^>Neeraj Jain~Chief Financial Officer

CIN : L92114DL1976PLC008355 Cosmo Films Limited1008, DLFTower-A, Jssola District Centre, New Delhi - 110025, India.


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