For S.P. BHANDARE & ASSOCIATES CHARTERED ACCOUNTANTS FIRM REGN. NO W. S.P. BHANDARE PROPRIETOR M.NO.3s615 PLACE:PANAJI-GOA DATE :22ND MARCH 201

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S. P. BHANDARE & ASSOCIATES CHARTERED ACCOI JNTAIITS, 3/UG.4. MODELS RESIDENCY ST. [NEZ, PANAJ"I. GOA. 403 OOI. TEL.: (0832)2221464, 2431051 E-MAIL : sandip.bhandare@gmail.

1 S. P. BHANDARE & ASSOCIATES CHARTERED ACCOI JNTAIITS, 3/UG.4. MODELS RESIDENCY ST. [NEZ, PANAJ"I. GOA. 403 OOI. TEL.: (0832) , sandip.bhandare@gmail.com Independent Auditor's RePort To the Board of Directors of Astra Metal Systems Private Limited Report on the Interim consolidated Financial statements We have audited the accompanying interim consolidated financial statements of Astra Metal Systems Private Limited ("the CompffiY"), which comprise the Consolidated Balance sheet as at 31't December 2017, the Consolidated Statement of Profit and Loss and the Consolidated Cash Flow Statement for the period of nine months then ended and a summary of significant accounting policies and other explanatory information' Managementos Responsibility for the Interim Consolidated Financial Statements The Company,s Board of Directors is responsible for the preparation and presentation of these interim consolidated financial statements that give a true and fair view of the consolidated financial position, consolidated financial performance and consolidated cash flows of the Company in accordance with Accounting Standards (AS) 25, Interim Financial Reporting and other accounting standards as specified under section 133 of the Companies Ait, 2013, read with Rule T. of the Companies (Accounts) Rules, 2014 and on other accounting principles generally accepted in India (Indian GAAP). This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal control, that were operating effectively for ensuring the accuracy and compieteness of the accounting records, relevant to the preparation and presentation of the interim consolidated financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or effor. Auditoro s ResponsibilitY Our responsibility is to express an opinion on these interim consolidated financial statements based on our audit. we conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the interim consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the interim consolidated financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error' In ins those risk assessments, the auditor considers internal control relevant to the is preparation of the interim consolidated financial statements that give a true and to design audit procedures that are appropriate in the circumstances, but not

2 S. P. BHANDARE & ASSOCIATES CHARTERED ACCOUI\TTANTS. 3ruG-4, MODELS RESIDENCY ST. INEZ, PANAtrI. GOA. 403 OOI. TEL.: (0832) , sandip.bhandare@gmail.com for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by Management, as well as evaluating the overall presentation of the interim consolidated financial statements. We believe that the audit evidence we have obtained is suffrcient and appropriate to provide a basis for our audit opinion on the interim consolidated financial statements. Opinion In our opinion and to the best of our information and according to the explanations given to us, the interim consolidated financial statements give a true and fair view in conformity with Accounting Standard (AS-25) on Interim Financial Reporting and other accounting standards specified under section 133 of the Companies Act 2013, read together with Rule 7 of the Companies (Accounts) Rules 2014, and on other accounting principles generally accepted in India (Indian GAAP): (i) (ii) (iid in the case of the Consolidated Balance Sheet, of the consolidated state of affairs of the Company as at 3 I't Decemb er 2017 ; in the case of the Consolidated Statement of Profit and Loss, of the consolidated profit for the period of nine months ended on that date; and in the case of thb.consolidated Cash Flow Statement, of the consolidated cash flows for the period of nine months ended on that date' For S.P. BHANDARE & ASSOCIATES CHARTERED ACCOUNTANTS FIRM REGN. NO W S.P. BHANDARE PROPRIETOR M.NO.3s615 PLACE:PANAJI-GOA DATE :22ND MARCH 201

ASTRA METAL SYSTEMS PRIVATE LIMITED VERNA-GOA CIN No: U28112GA1997PTC002291 CONSOLIDATED STATEMENT OF PROFIT & LOSS FOR THE NINE MONTHS ENDED 31 ST DECEMBER 2017 PARTICULARS Note No.

4 ASTRA METAL SYSTEMS PRIVATE LIMITED VERNA-GOA CIN No: U28112GA1997PTC CONSOLIDATED STATEMENT OF PROFIT & LOSS FOR THE NINE MONTHS ENDED 31 ST DECEMBER 2017 PARTICULARS Note No. For the nine months ended 31 st December 2017 Amount In Rs. For the year ended 31 st March 2017 Amount in Rs. I. Revenue from Operations II. Other Income Ill. Total Revenue (1+11) ,87,93,931 74,05,977 39,61,99,908 42,26,42,510 2,13,48,292 44,39,90,802 IV. Expenses:- Cost of Materials Changes in inventories of finished goods work-in-progress Employee Benefit Expenses Finance Costs Depreciation and amortization expenses Other Expenses Total Expenses ,26,47,337 61,88,409 4,10,41,834 89,58,919 1,67,28,474 4,27,63,321 34,83,28,294 23,19,83,664 91,76,997 5,81,31,776 1,52,28,834 3,04,73,549 7,10,78,855 41,60,73,675 V. Profit before exceptional items and tax (Ill- IV) VI. Exceptional Items VII. Profit before tax (V-VI) VIII. Tax Expense: (1.) Current Tax (2.) Deferred Tax Profit/(Loss) before Share of Profit/ (loss) of Associates 31 4,78,71,614 46,89,179 4,31,82,435 1,12,19,000 9,39,494 3,10,23,941 2,79,17,127-2,79,17,127 1,24,11,000 28,38,009 1,26,68,118 IX. Share of Profit/ (Loss) of Associates (2,24,926) (8,34,275) X. Profit (Loss) for the period (V-VI) 3,07,99,015 1,18,33,843 XI. Earnings per equity share: (1) Basic (2) Diluted FOR S.P. BHANDARE & ASSOCIATES CHARTERED ACCOUNTANTS FIRM REGN. NO W For and on behalf of the Board ASTRA METAL SYSTEMS PRIVATE LIMITED S.P. BHANDARE PROPRIETOR DIRECTOR DIN: DATE : 22 nd March 2018 HARLTONCOLLAI DIN:

Management s Responsibility for the interim condensed Financial Statements

Management s Responsibility for the interim condensed Financial Statements INDEPENDENT AUDITOR S REPORT To the Board of Directors of INDO Tausch Trading DMCC We have audited the accompanying interim condensed financial statements of INDO Tausch Trading DMCC ( the Company ), which