VADILAL INDUSTRIES LIMITED Regd. Office : Vadilal House, Shrimali Society, Nr. Navarangpura Railway Crossing, Navrangpura, Ahmedabad

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1 VADILAL INDUSTRIES LIMITED Regd. Office : Vadilal House, Shrimali Society, Nr. Navarangpura Railway Crossing, Navrangpura, Ahmedabad PART - I Sr. No. (Rs. in Lacs) Statement of Standalone and Consolidated Annual Audited Results for the Stand-alone Financial Results Consolidated Financial Results Three Preceding Correspond For the Previous For the Previous three ing three ended ended ended on on on in the previous (Unaudited) (Unaudited) (Unaudited) (Audited) (Audited) (Audited) (Audited) 1 Income from operations (a) Net Sales/Income from operations (Net of Excise duty) (b) Other operating income Total Income from operations Expenditure (Net) a) Cost of materials consumed b) Purchase of stock-in-trade c) Changes in inventories of (895.84) (445.94) (498.87) (530.37) finished goods, work-in-progress and stock-in-trade d) Employees benefits expense e) Depreciation and amortisation expense f) Other Expenditure (Any item exceeding 10% of total expenses relating to continuing operations to be shown seperately) Total expenses : Profit from Operations before (105.70) (25.89) other income, finance cost and exceptional Items (1-2) 4 Other Income Profit from ordinary activities (43.40) before finance costs and exceptional Items (3+4) 6 Finance Costs Profit from ordinary activities (482.33) (308.29) after finance costs but before exceptional Items (5-6) 8 Exceptional Items (0.21) 0.00 (0.21) 0.00 (0.21) 9 Profit / (Loss) from ordinary (482.33) (308.50) activities before tax (7+8) 10 Tax expense (152.08) (126.03) Net Profit/ (Loss) from Ordinary (330.25) (182.47) Activities after tax (9-10) 10 Profit/(loss) applicable to minority interest 11 Share in Profit/(loss) of Associate Net Profit/(loss) after tax ( (330.25) (182.47) ) 12 Extraordinary items (net of tax expense) 13 Net Profit / (Loss) for the period (330.25) (182.47) (11-12) 14 Share in Profit/(loss) of Associate Minority interest

2 16 Net Profit / (Loss) after tax, (330.25) (182.47) minority interest and share of profit of associates for the period ( ) 17 Paid-up Equity Share Capital (Face Value of Rs. 10/- each) 18 Reserves excluding Revaluation Reserves as per Balance Sheet of previous accounting 19. i Earnings Per Share (before extraordinary items) (of Rs. 10/- each) (not annualised) a) : Basic (Rs.) 0.18 (4.59) (2.54) b) Diluted (Rs.) 0.18 (4.59) (2.54) ii Earnings Per Share (after extraordinary items) (of Rs. 10/- each) (not annualised) a) : Basic (Rs.) 0.18 (4.59) (2.54) b) Diluted (Rs.) 0.18 (4.59) (2.54)

3 PART - II Information for the quarter and A 1 PARTICULARS OF Public SHAREHOLDING Shareholding Number of Shares 33.60% 38.17% 38.06% 33.60% 38.06% 33.60% 38.06% - Percentage of Shareholding 2 Promoters and promoter group Shareholding ** a) Pledged / Encumbered - Number of Shares Nil Nil Nil Nil Nil Nil Nil - Percentage of Shares (as a % N.A N.A N.A N.A N.A N.A N.A - Shareholding of the promoter and promoter Group) - Percentage of Shares (as a % N.A N.A N.A N.A N.A N.A N.A - Share Capital of the Company) b) Non-encumbered - Number of Shares Percentage of Shares (as a % % % % % % % % - Shareholding of the promoter and promoter Group) - Percentage of Shares (as a % 66.40% 61.83% 61.94% 66.40% 61.94% 66.40% 61.94% - Share Capital of the Company) B INVESTOR COMPLAINTS Pending at the beginning of the quarter Received during the quarter Disposed of during the quarter Remaining unresolved at the end of the quarter Nil 9 9 Nil

4 NOTES : 1) 2) 3) 4) 5) Statement of Assets and Liabilities as on : Rs. in lacs As on 31- As on (Audited) (Audited) A : EQUITY AND LIABILITIES 1 SHAREHOLDERS' FUNDS : (a) Share Capital (b) Reserves and Surplus Sub-total Shareholders Funds Deferred Government Grant Non-current liabilities (a) Long-term borrowings (b) Deferred Tax liabilities (net) (c) Long-term provisions Sub-total-Non-current liabilities : 4 Current Liabilities : (a) Short Term borrowings (b) Trade Payables (c) Other current liabilities (d) Short term provisions Sub-total Current liabilities : TOTAL - EQUITY AND LIABILITIES : B : ASSETS 1 Non-current Assets : (a) Fixed Assets (b) Non-current investments (c)long-term loans and advances (d) Other non-current assets Sub-total Non current Assets : Current Assets : (a) Current investments (b) Inventories (c) Trade receivables (d) Cash and cash equivalents (e) Short term loans and (f) advances Other current assets Sub-total Current Assets : TOTAL ASSETS : ) Corresponding figures of the previous period have been re-grouped / re-stated, where necessary. 6) As per Clause 41 of the Listing Agreement, the Consolidated Financial Results for the , includes the results of the Company, its subsidiary company namely Vadilal Industries (USA) Inc, and Vadilal Cold Storage, a Partnership Firm. As the major business of the Company i.e. ice-cream and processed food products is of a seasonal nature, sales as well as profits during April to September period are usually higher than October to March period. The Company, based on the report issued by external valuer has revalued land and building situated at Ahmedabad, Pundhra, Bareilly and Dharampur as at 31st March, 2012 by replacement basis policy. The net increase due to revaluation of such assets of Rs Lacs has been carried to Revaluation Reserve Account. The revalued amount of Rs Lacs stands substituted for historical cost of Rs Lacs in the gross block of fixed assets The Board of Directors have recommended dividend of Rs per Share 15 %) on 71,87,830 Equity Shares of Rs. 10/- each for the 31st March, 2012 subject to the approval of the members at the ensuing Annual General Meeting of the Company. The above Financial results have been approved by the Board of Directors at its Board Meeting held on 30 th May, 2012 after reviewed by the Audit Committee of the Directors of the Company. For VADILAL INDUSTRIES LIMITED Date : 30 th May, Place : Ahmedabad Sd/- RAJESH R. GANDHI MANAGING DIRECTOR

5 AUDITED SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE YEAR ENDED ON 31ST MARCH, (Rs. in Lacs) Sr. Stand-alone Financial Results Consolidated Financial No. Three Preceeding Correspon For the Previous Results For the Previous three ding three ended on ended on in the (Unaudited) (Unaudited) (Unaudited) (Audited) (Audited) (Audited) (Audited) 1 Segment Revenue a) Ice - cream Division b) Processed Food Division c) Others / Unallocated Total Less: Inter-segment Revenue (61.25) (22.12) (26.51) (153.41) (131.76) (153.41) (131.76) Net Sales/Income from Operations Segment Results [Profit / (Loss) before tax and interest from each segment] a) Ice - cream Division b) Processed Food Division (96.71) 0.68 (179.32) (166.67) (225.03) (201.70) c) Others (0.73) Total (38.44) Less: a) Interest b) Other un-allocable expenditure net off un-allocable income Total , , , , Total Profit before Tax (482.33) (308.50) Capital Employed (Segment Assets - Segment Liabilities) a) Ice - cream Division b) Processed Food Division c) Others Total Add: ( ) ( ) ( ) ( ) ( ) ( ) ( ) Unallocable Current Assets Less Unallocable Current Liabilities Total