Date: 18th May, The Secretary Calcutta Stock Exchange Limited 7, Lyons Range, Kolkata

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1 I ACE MEN ENGG WORKS "M'I'ED (FORMERLY KNOWN AS ACUMEN ENGINEERING INDUSTRIES LIMITED) CIN: L27109WB1980PLC Ph PI.t B, B.B. Ganguly Street, 2nd Floor, Suite No.8, Kolkata website: / id:info@acumenengg.co.in Date: 18th May, 2017 : '~~ Department of Corporate Services, BSE Limited, Phiroze }eejeebhoy Towers Dalal Street, Mumbai BSEScrip Code: The Secretary Calcutta Stock Exchange Limited 7, Lyons Range, Kolkata Sir/Madam, Sub: Outcome of Board Meetin&: With reference to the captioned subject, this is to inform you that: 1. A meeting of the Board of Directors of the Company was held today i.e. on Thursday, 18th May, 2017 at the registered office of the company, considered and approved the Financial Results for the quarter and year ended on 31st March, Enclosed herewith the following documents: Financial Results the quarter and year ended on 31st March, 2017 Auditor's Report for the quarter and year ended on 31st March, Declaration on unmodified opinion on financial results. Thanking You, For ACRMENENGGWORKS LIMITED ACEME~~TD. Rajesh Ku~~W~\Oi'Rfd DIN: Signatory

2 ACE MEN ENGG WORKS LIMITED 19B, B.B. GANGULY STREET, 2ND FLOOR, SUITE NO.8 KOLKATA AUDITED FINANCIAL RESULTS FOR QUARTER AND YEAR ENDED ON 31ST MARCH, 2017 CIN: L27109WB1980PLC Particulars 1 Income from O_1)_erations (a) Net Salesllncome from operations (Net of excise duty) (b) Other Operating Income Total Income from Operations (net) 2 Expenses (a) Cost of Materials consumed (b) Purchase of Stock intrade (c)changes in inventories of finished goods,workinprogressand stockintrade (d) Employee benefits expense (e)depreciation Three months ended (31/03/2017) Previous 3 months ended (31/ ) Corresponding three months in the previous year (31/03/2016) Year to date figures for the previous year ended (31/03/2017) Unaudited (390,000) 7,802,500 33,614 (g)other expenses 3 Profitl(Loss) from Operations before other income, finance costs and exceptional items (12) activities 12 Extraordinary_ltems 13 Net Profit/(Loss) For The Period (11 12) 5,215, , , , , , ,990 21, ,535 3,260, ,838 8,231, ,882 21,473,587 2,923, Tax Expenses 11 Net Profitl (Loss) from Ordinary Activities after tax (9 10) (8,517,000) 29,242,000 (8,517,000) 60,248 a 2,487,400 7,762,759 6 Finance Costs 7 Profitl(Loss) from Ordinary Activities after finance costs but before exceptional items(5.:!:6) 21,829,640 2,567,000 24,396,640 25,908 4 Other Income 5 Profitl(Loss) from Ordinary Activities before finance costs and exceptional items (3.:!: 4} 60,000 8,252,500 11,257,000 38,515 (I) Listing fees Total EJgl_enses 8,192,500 2,500,000 2,147,000 4,647, , ,000 7,703,237 and amortisation expense 8 Exceptional Items 9 Profitl(Loss) from ordinary before tax (7.:!:8) 8,192,500 Amount in Rs. Previous accounting year ended (31/03/2016) 6,342 33,399 2,923,053 2,923,053 2,841,100 81,953 25,323 1,361, ,237 56,630 25,323 :!:.. 33,399 1,361,661 14,237 56, Paidup Equity Share Capital (Face Value Rs: 10/ per share) 42,571 28, Reserves excluding Revaluation Reserves as per balance sheet of previous accounting ly_ear 16 Earning Per Shares (of Rs. 10/ each) (not annualised) (a) Basic (b) Diluted Place: Kolkata Date: ACEM~Ii.~Y<i.EWORKS LIMITED Al;I: MI N ENGG. WORKS LTD. c: Iii::;' Director/Authorised Signatory RaJesh Sharma DIN No

3 STATEMENT OF ASSETS AND LIABILITIES Particulars (Amount In Rs) As at 31/03/2017 As at 31/03/2016 A. EQUITY AND LIABILITIES 1. Shareholders' funds (a) Share Capital (b) Reserves and Surplus 42,571 28,334 (c) Money received against share warrants Subtotal Shareholders' funds 31,027,571 31,013, Share application money pending allotment 3. Noncurrent liabilities (a) Longterm borrowings (b) Deferred tax liabilities (net) (c) Other longterm liabilities (d) Longterm provisions Subtotal Noncurrent liabilities 4. Current liabilities (a) Shortterm borrowings (b) Trade Payables (c) Other Current Liabilities 22,950 11,450 (d) Shortterm provisions 31,665 25,323 Subtotal Current liabilities 54,615 36,773 TOTAL EQUITY AND LIABILITIES 31,082,186 31,050,107 B.ASSETS 1. Noncurrent assets (a) Fixed assets (b) Noncurrent investments 16,606,202 11,106,202 (c) Deferred tax assets (net) (d) Longterm loans and advances (e) Other noncurrent assets Subtotal Noncurrent assets 16,606,202 11,106, Current assets (a) Current investments (b) Inventories 3,301,163 8,517,000 (c) Trade receivables 8,992,500 4,610,000 (d) Cash and cash equivalents 120, ,905 (e) Shortterm loans and advances 2,062,000 6,502,000 (f) Other current assets Subtotal Current assets 14,475,984 19,943,905 TOTAL ASSETS 31,082,186 31,050,107 Notes: 1. The above results were reviewed by the Audit Committee and thereafter taken on record by the Board of Directors at its meeting held on The above results for the year ended 31st March, 2017 and 31st March, 2016 have been audited by the statutory auditors of the Company. 3. Figures for the previous year/quarter have been regrouped/recasted wherever necessary. 4. The above results will be available on Company's website 'l'{""w1.acumener:gg.coin 5. During the quarter ended 31st March, 2017 and the corresponding previous quarterlyear, the Company has operated only in one geographical segment. Hence segment reporting as per AS 17 is not given. 6.Figures for the quarter ended 31st March, 2017 and 31st March, 2016 are the balancing figures between audited figures in respect of full financial year and the published year to date figures upto the third quarter of the relevant financial year. 7. The Board has not recommended payment of dividend for financial year Place: Kolkata?fe~~~~~wa~ LTD. Date: c~ Rajesh~~mp / Authorised Signatory DIN

4 P. D. RA,NDAR 8{ co. CHARTERED ACCOU'VTANTS 13, GANESH CHANDRA AVENUE 2ND FLOOR, SUITE NO, 12 KOlKATA PHONE. : /0651 FAX: : pdrandar@hotmailcom Independent Auditor's Report On the Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations To the Board of Directors of ACEMENENGGWORKSLIMITED We have audited the accompanying financial results (the statement) of ACE MEN ENGG WORKSLIMITEDfor the year ended 31/03/2017. attached herewith. being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations Attention is drawn to the fact that the figures for the quarter ended 31st March and the corresponding quarter ended in the previous year as reported in this financial results are the balancing figures between audited figures in respect of the full financial year and the published year to date figures up to the end of the third quarter had only been reviewed and not subjected to audit. Auditors' Responsibility Our responsibility is to express an opinion on these financial results based on our audit of the annual financial statements. We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial results are free of material misstatementts). An audit includes examining. on a test basis. evidence supporting the amounts disclosed as financial results. An audit also includes assessing the accounting principles used and significant estimates made by management. We believe that our audit provides a reasonable basis for our opinion. Opinion In our opinion and to the best of our information and according to the explanations given to us these quarterly financial results as well as the year to date:

5 P. D. RANDAR & co. CrfA;f.liERt;:D A.COOUNTANTS 13, GANESH CHANDRA AVENIJE 2ND FLOOR, SUITE NO. 12 KO!,..KATA PHONE: ' FAX: 91~33.222~ (i) are presented in accordance with the requirements of Regulation 33 of the SEBI(Listing Obligationsand DisclosureRequirements)Regulations,2015 in this regard; and (ii) give a true and fair view of the net profit and other financial information for the quarter ended 31/03/2017 as well as the year to date results for the period from 01/04/2016 to 31/03/2017. For P D. Randu & Co. Chartered Accountants Finn Registratio n No E Shakti An~balia Partner Mem.No Place, Kolkata Date, 18/05/2017

6 ,. lice MEN ENGG WORKS "MI.,.ED (FORMERLY KNOWN AS ACUMEN ENGINEERING INDUSTRIES LIMITED) CIN: L27109WB1980PLC Ph B, B.B. Ganguly Street, 2nd Floor, Suite No.8, Kolkata website: / id:info@acumenengg.co.in Date: 18th May, 2017 / \J7he Department of Corporate Services, BSELimited, Phiroze Jeejeebhoy Towers Dalal Street, Mumbai BSEScrip Code: The Secretary Calcutta Stock Exchange Limited 7, Lyons Range, Kolkata Sir/Madam, Sub: Declaration regarding Audit report on Financial Results for the Quarter and Year ended 31st March with unmodified opinion Pursuant to Regulation 33(3)(d) of SEBI {Listing Obligations and Disclosure Requirements) 2015 we hereby confirm and declare that the Statutory Auditors of the Company i.e. Mis P D. Randar & Co. (Firm Registration No E) have issued the Audit Report on Financial Results of the Company for the Quarter and Year ended 31st March, 2017 with Unmodified Opinion. Thanking You, DirectorIAuthorised Signatory Rajesh Kumar Sharma DIN:

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_ (jjjl(])jl!ert.t(j{jl(})le J{OL(])I:Nq L'T(]). (FORMERLY KNOWN AS REFINE HOLDINGS LIMITED) 25, STRAND ROAD 6TH FLOOR ROOM607, MARSHAL HOUSE KOLKATA 700001 CIN:L67120WB1981PLC033991 website: www.rhodings.org