Unaudited Financial Results for the Quarter and Half Year ended on September 30, 2018

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1 WAsianStar November 14, 2018 BSE Limited, Corporate Relations Department, Phiroze leejeebhoy Towers, Dalal Street, Mumbai Scrip Code: Dear Sir/ Madam, Sub: Unaudited Financial Results for the Quarter and Half Year ended on September 30, 2018 This is to inform you that the Board of Directors in their meeting held on today i.e. November 14, 2018 approved: Unaudited Financial Results on Standalone and Consolidated Basis for the quarter and half year ended September 30, 2018 after considering effect of merger of Asian Star Jewels Private Limited with the Company vide Order of Hcn'ble National Company Law Tribunal dated August 3,2018. The Board has deferred the borrowing decision. The meeting of the Board of Directors held today commenced at 3.30 p.m. and concluded at 5.45 p.m. Kindly take the same on your records. Thanking you, Yours faithfully, For ASIAN STAR COMPANY LIMITED ARVIND TARACHAND SHAH (DIN: ) DIRECTOR AsiJiIMt!t 6a~9,~timited 114, MiHal Court - C, Nariman Point, Mumbai , India. CIN: L36910MH1995PLC SIGHTHOlDER PREFERRED PURCHASER - SIGHTHOlDER is a trademark used under licence from The De Beers Group of Companies TM Trademarks owned by Dominion Diamond Corporation ;:rhe ALROSA ALLIANCE logo is a trademark used under license from PJSC ALROSA I Select Diamantaire is a trademark of Rio nnto London Limited, used under licence.

2 WAsianStar UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH SEPTEMBER, 2018 Standalone (Rs In Lacs) Sr. Quarter ended Six months ended Year ended Particulars No Unaudited Unaudited unaudited Unaudued Unaudited Audued 1 Income from Operations (a) Net Sales/Income from Operations 70, , , , , , (b) Other Income (1.30) , Total income from operations (net) 70, , , , , , Expenditure a. Cost of Materials Consumed / Purchase of Traded Goods 48, , , , , , b. Changes in Inventories of Finished Goods,WIP and Stock-in-Trade 8, (11,011.04) (10,578.15) (2,055.21) (7,510.08) 1, c. Processing Charges 6, , , , , , d. Employees Benefits expense 1, , , , , , e. Finance Costs , , , f. Depreciation expense , g. Other Expenditure 1, , , , , , Total Expenses 68, , , , , , Profit/(Loss) from ordinary activities after finance cost but before Exceptional 1, , , , , Exceptional items Gain / (Loss) (61.36) (17.74) ( 1,813.02) (79.10) (1,813.02) (492.13) 5 Profit / Loss from Ordinary Activities before tax (3+/- 4) 1, , , , Current Tax , , Deferred Tax (53.69) (65.30) (726.50) (118.99) (786.35) (363.01) 8 Net Profit / Loss from Ordinary Activities after tax (5 +l- 6+/-7) 1, , , , Extraordinary Item Net Profit/ Loss for the period (8 +/- 9) 1, , , , Share of profit/ (loss) of associates Minority Interest Net Profit / (Loss) after taxes. minority interest and share of profit / (loss) of 1, , , , Other Comprehensive Income A) (i) Items that will not be Reclassified to Profit & loss (ii) Income Tax relating to Items that will not be Reclassified to Profit & loss B) (i) Items that will be Reclassified to Profit & loss (ii) Income Tax relating to Items that will be Reclassified to Profit & loss 15 Total Comprehensive Income ( 13 +l- 14) 1, , ,485_41 4, Paid up equity share capital (Pace value of share) 18 Reserve excluding Revaluation Reserves 19 (il Earnings Per Share (EPS) (before extraordinary iternsl Inot annualisedl a) Basic b) Diluted (ii) Earning per share (after extraordinary items) (not annualised) a) Basic b) Diluted 1, , , , , , Rs.10/- RS.lO/- RS.10/- RS.lO/- RS.lO/- RS.lO/- 69, Asian Star Company Limited 114, Mittal Court - C, Nariman POint, Mumbai , India. CIN: L36910MH1995PLC SIGHTHOlDER -is a trademark used under licence from The De Beers Group of Companies I Trademarks owned by Dominion Diamond Corporation The ALROSA ALLIANCE logo is a trademark used under license from PJSC AlROSA I Select Diamantaire is a trademark of Rio Tinto london Limited, used under licence.

3 @) Asian Star Notes: The above audited financial results were reviewed by the Audit Committee and taken on record at the meeting of the Board of Directors held on November 14, The results have also been subjected to limited review by the statutory auditors of the company. The figures for the previous periods/year have been regrouped/reclassified to make them comparable with those of current period/year. During the quarter the Company received final approval from NClT for merger by absorption of Asian Star Jewels Private Limited, a wholly owned subsidiary with the company with effect from The financial statements have been regrouped / rearranged to give effect of the merger w.e.i The company recognises two reportable business segment viz., diamonds and jewellery. The business, which is not reportable during the quarter, has been grouped under 'Others' segment, this comprises wind energy generation. In view of The Ministry of Corporate Affairs ('MCA'). Government of India, circular nos. 17/2011 dated April and 18/2011 dated April 29, 2011, members are hereby requested to write letter addressed to our registered office address or us at 'secretarial@asianstargroup.com in electronic mode. for receiving the documents By order of the Board For ASIAN STAR CO. ltd. Place: Mumbai Date: November 14, 2018 DIRECTOR IDIN ) Asian Star Company Limited 114, Mittal Court - C, Nariman Point, Mumbai , India. CIN: L36910MH1995PLC PREFERRED ~URCHASER '" is a trademark used under licence from The De Beers Group of Companies 1 TM Trademarks owned by Dominion Diamond Corporation The ALROSA ALLIANCE logo is a trademark used under license from PJSC ALROSA I Selec1 Diamantaire is a trademark of Rio 'rlnto London Limited, used under licence.

4 @j Asian Star (Rs In Lacs) UNAUDITED SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER ENDED 30TH SEPTEMBER, 2018 Sr. No. Particulars Standalone Quarter ended Six months ended Year ended Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1 SEGMENT REVENUE S 54, , , , , , JEWELLERY 20, , , , , , OTHERS , TOTAL 76, , , , , , LESS: INTER SEGMENT REVENUE / TRANSFER 5, , , , , , NET SALES / INCOME FROM OPERATIONS 70, , , , , , SEGMENT RESULTS PROFIT(+) / LOSS(-) BEFORE INTEREST AND TAX S 1, , , , , , JEWELLERY , , , OTHERS , TOTAL 2, , , , , , LESS: I) FINANCE COSTS , , , II) EXCEPTIONAL ITEM GAIN / (LOSS) , , III) OTHER UN-ALLOCABLE EXPENDITURE NET OFF UN-ALLOCABLE INCOME TOTAL , , , , TOTAL PROFIT BEFORE TAX 1, , , , CAPITAL EMPLOYED (Segment assets - Segment liabilities) S 39, , , , , , JEWELLERY 17, , , , , , OTHERS 15, , , , , , TOTAL 72, , , , , , By order of the Board For ASIAN STAR CO. ~~<;;,.~ L TO. Place: Mumbai DIRECTOR Date: November 14, 2018 (DIN ) Asian Star Company Limited 114, Mittal Court - C, Nariman Point, Mumbai , India. CIN: L36910MH1995PLC PREFERRED PURCHASER S I G H THO l D E R'" is a trademark used under licence trom The De Beers Group of Companies I Tt.t Trademarks owned by Dominion Diamond Corporation The ALROSA ALLIANCE logo is a trademark used under license from PJSC ALROSA I Select Oiamantaire is a trademark of Rio Tlnto London Limited, used under licence.

5 @; Asian Star Statement of Unaudited Assets and Liabilities (Rs. In Lacs) Standalone Particulars As at As at t lnaudirad Audited I ASSETS Non-Current Assets a Property, Plant & Equipment 22, , Capital Work-In-Progress - - Intangible Assets b Investment Property 4, , c Financial Assets i) Non Current Investments 4, , ii) Other Financial Assets d Other Non-Current Assets Total Non-Current Assets 32, , Current Assets a Inventories 49, , b Financial Assets i) Current Investments 2, , ii) Trade Receivables 77, , iii) Cash and Cash Equivalents 11, , iv) Other Bank Balances 9, , v) Loans & Advances 4, , vi) Other Financial Assets Tota I Cu rre nt Assets 156, , TOTAL ASSETS 188, , II EQUITY AND LIABILITIES Equity a Equity Share Capital 1, , b Other Equity 70, , Total Equity 72, , liabilities Non-Current liabilities a Financial Liabilities i) Long-Term Borrowings 2, , b Deferred Tax Liabilities (Net) 4, , c Long-Term Provisions d Non Current Tax Liabilities e Other Non-Current Liabilities Total Non-Current liabilities 8, , Current liabilities a Financial Liabilities: i) Short-Term Borrowings 78, , ii) Trade Payables 24, , iii) Other Financial Liabilities 1, b Other Current Liabilities 3, , Total Current liabilities 107, , TOTAL EQUITY AND LIABILITIES 188, , By order 0 the Board For ASIAN STAR CO. LTD.,.J\ '7\ -C\, ~ Place: Mumbai DIRECTOR Date: November 14, 2018 (DIN ) Asian Star Company Limited 114, Millal Court - C, Nariman Point, Mumbai , India. CIN: L36910MH1995PLC T F: , E: into@asianstargroup.com ~ Of TI-iE OE IUkS GItOUl' Of C::Ol1'ANIU PREFERRED PURCHASER SIGHTHOlDER- is a trademark used under licence from The De Beers Group of Comparues I TM li rademarks owned by Dominion Diamond Corporation.:rhe ALROSA ALLIANCE logo is a trademark used under license from PJSC ALAOSA I Select Diamantaire is a trademark of Rio Tinto London Limited, used under licence.

6 [CA 1 MAHENDRA DOSHI & ASSOCIATES CHARTERED ACCOUNTANTS 303, Zest Business Spaces, 16, M.G. Road, Next To Doshi Nursing Home, Near East West Flyover, Ghatkopar (E), Mumbai : / : accounts@camahendradoshi com : To, The Board of Directors Asian Star Company Limited Re : ASIAN STAR COMPANY LIMITED Sub: Limited Review Report for the Quarter ended We have reviewed the accompanying statement of unaudited financial results of Asian Star Company Limited for the quarter ended September 30th, This statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on these financial statements based on our review. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2400, Engagements to Review Financial Statements 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 an analytical procedure 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. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards 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 including the manner in which it is to be disclosed, or that it contains any material misstatement. FOR MAHENDRA DOSHI & ASSOCIATES CHARTERED ACCOUNT ANTS FRN: W Place: Mumbai (C.A. MAHENDRA DOSHI) Proprietor Membership No.: Date: November 14th, 2018

7 @J Asian Star UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30th SEPTEMBER, 2018 (Rs In Lacs) Consolidated Sr. No. Particulars Quarter ended Six months ended Year ended Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1 Income from Operations (a) Net Sales/Income from Operations 109, , , , , (b) Other Income (67.31) ( 11.68) (78.99) Total income from operations (net) 109, , , , , , Expenditure a. Cost of Materials Consumed / Purchase of Traded Goods 81, , , , , , b. Changes in Inventories of Finished Goods. WIP and Stock - In - Trade 12, (11,129.19) (8,478.64) 1, (4,342.78) c. Processing Charges 6, , , , , , d. Employees Benefits expense 1, , , , , , e. Finance Costs , , , f. Depreciation Expense , g. Other Expenditure 1, , , , , , Total Expenses 105, , , , , , Profit/(Loss) from ordinary activities after Finance Cost but before 4, , , , , , Exceptional items Income/(Loss) (61.36) (17.74) (1,813.02) (79.10) (1,813.02) (503.47) 5 Profit/(Loss) from ordinary activities before tax (3+/- 4) 4, , , , , , Current Tax , , Deferred Tax (53.61) (65.42) (726.62) (119.03) (786.38) (362.97) 8 Profit/(Loss) from ordinary activities after tax (5+/- 6+/-7) 3, , , , , , Extraordinary items 10 Net Profit / Loss for the period (8 +/-9) 3, , , , , , Share of Profit / (Loss) of Associates 12 Minority Interest (209.96) (298.27) Net Profit / (Loss) after taxes, minority interest and share of Profit / (Loss) 3, , , , , , Other Comprehensive Income (OCI) A) (i) Items that will not be Reclassified to Profit & loss ( ) (260.35) (42.21) (ii) Income Tax relating to Items that will not be Reclassified to Profit & loss B) (i) Items that will be Reclassified to Profit & loss (ii) Income Tax relating to Items that will be Reclassified to Profit & loss 15 Total Comprehensive Income (after tax) (13+/-14) 3, , , , , , Paid up equity share capital 1, , , , , , (Face value of share) Rs.lO/- Rs.10/- Rs.10/- Rs.10/- Rs.10/- RS.lO/- 17 Reserve excluding Revaluation Reserves 96, (i) Earnings Per Share (EPS) (before extraordinary items) (not annualised) a) Basic b) Diluted (ii) Earning per share (EPS) (after extraordinary items) (not annualised) a) Basic b) Diluted ASian star Com p an y Limited 114, Mittal Court - C, Na ri man POint, Murnbai , India. CIN. L36910MH1995PLC T: F: , E: info@asianstargroup.com OF THE 01 lulu G~OUP 0' COH~"'Nln PREFERREO PURCHASER SIGHTHOlDER-is a trademark used under licence from The De Beers Group of Companies TM Trademarks owned by Dominion Diamond Corporation _:rho ALROSA ALLIANCE logo is a trademark used under license from PJSC ALROSA I Select Oiamantaire is a trademark of Rio Tinto London Limited, used under licence.

8 WAsianStar Notes: 1 The above unaudited financial results were reviewed by the Audit Committee and taken on record at the meeting of the Board of Directors held on November 14, The results have also been subjected to limited review by the statutory auditors of the company. 2 The financial results (standalone) are as follows: (Rs. in Lacs) Quarter ended Six months ended Year ended Particulars Unaudited Unaudited Unaudited Unaudited Unaudited Audited Net Sales 70, , , , , , Profit Before Tax 1, , , , Profit After Tax 1, , , , The figures for the previous periods/year have been regrouped/reclassified to make them comparable with those of current period/year. 4 During the quarter the Company received final approval from NCL T for merger by absorption of Asian Star Jewels Private Limited, a wholly owned subsidiary with the company with effect from The financial statements have been regrouped / rearranged to give effect of the merger w.e The Company recognises two reportable business segment viz., diamonds and jewellery. The business, which is not reportable during the quarter, has been grouped under 'Others' segment, this comprises wind energy generation. 6 In view of The Ministry of Corporate Affairs ('MCA'). Government of India, circular nos. 17/2011 dated April 21, 2011 and 18/2011 dated April 29, 2011, members are hereby requested to write letter addressed to our registered office address or us at secretarial@asianstargroup.com for receiving the documents in electronic mode. Place: Mumbai By order of the Board For ASIAN STAR CO. LTD....J\ -:"\ So ~ DIRECTOR Date: November 14, 2018 (DIN ) Asian Star Company Limited 114, Mittal Court- C, Nariman Point, Mumbai , India. CIN: L36910MH1995PLC PREFERRED PURCHASER S I G H THO l 0 E R'" is a trademark used under licence from The De Beers Group of Companies I Trademarks owned by Dominion Diamond Corporation.:rhe ALROSA ALLIANCE logo is a trademark used under license from PJSC ALROSA I Select Diamantaire is a trademark of Rio Tinto London Limited, used under licence.

9 @j Asian Star (Rs In Lacs) UNAUDITED SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER ENDED 30th SEPTEMBER, 2018 Sr. Particulars Consolidated No. Quarter ended Six months ended Year ended Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1 SEGMENT REVENUE S 94, , , , , , JEWELLERY 20, , , , , , OTHERS , TOTAL 115, , , , , , LESS: INTER SEGMENT REVENUE / TRANSFER 5, , , , , , NET SALES /INCOME FROM OPERATIONS 109, , , , , , SEGMENT RESULTS PROFIT(+) / LOSS(-) BEFORE INTEREST AND TAX OIAMONDS 4, , , , , , JEWELLERY , , , OTHERS TOTAL 5, , , , , , LESS: I) FINANCE COSTS , , , II) EXCEPTIONAL ITEM GAIN / (LOSS) (61.36) (17.74) ( 1,813.02) (79.10) (1,813.02) (503.47) III) OTHER UN-ALLOCABLE EXPENDITURE NET OFF UN-ALLOCABLE INCOME TOTAL , , , , TOTAL PROFIT BEFORE TAX 4, , , , , , CAPITAL EMPLOYED (Segment Assets - Segment Liabilities) S 71, , , , , , JEWELLERY 17, , , , , , OTHERS 15, , , , , , TOTAL 103, , , , , , By order of the Board For ASIAN STAR CO. L TO. ~~s".~ Place: Mumbai DIRECTOR Date: November 14, 2018 (DIN ) Asian Star Company Limited 114, Mittal Court - C. Nariman Point, Mumbai , India. CIN: L36910MH1995PLC PREFERRED PURCHA.SER ill SIGHTHOlOER"'is a trademark used under licence from The De Beers Group of Companies I Trademarks owned by Dominion Diamond Corporation :rhe ALRQSA ALLIANCE logo is a trademark used under license from PJSC ALAOSA I Select Diamantaire is a trademark of Rio Tinto London Limited, used under licence.

10 WAsianStar Statement of Unaudited Assets and Liabilities IRs. In Lacs) Conso idated Particulars As at As at Audite d Audite d I ASSETS Non-Current Assets a Property, Plant & Equipment 23, , Intangible Assets b Investment Property 4, , c Financial Assets i) Non-Current Investments 4, , ii) Other Financial Assets d Non-Current Tax Assets e Other Non-Current Assets Total Non-Current Assets 33, , Current Assets a Inventories 51, , b Financial Assets i) Current Investments 2, , ii) Trade Receivables 88, , iii) Cash and Cash Equivalents 26, , iv) Other Bank Balances 13, , v) Loans & Advances 7, , vi) Other Financial Assets Total Current Assets 190, , TOTAL AS5ETS 223, , II EQUITY AND LIABILITIES Equity a Equity Share Capital 1, , b Other Equity 102, , Total Equity 103, , Liabilities Non-Current Liabilities a Financial Liabilities: i) Long-Term Borrowings 2, , b Deferred Tax Liabilities (Net) 4, , c Long-Term Provisions d Non-Current Tax Liabilities e Other Non-Current Liabilities Total Non-Current Liabilities 8, , Current Liabilities a Financial Liabilities: i) Short-Term Borrowings 82, , ii) Trade Payables 21, , iii) Other Financial Liabilities 1, B Other Current Liabilities 5, , Total Current Liabilities 110, , TOTAL EQUITY AND LIABILITIES 223, , By order a the Board For ASIAN STAR CO. LTD. ---J:\~ ~~ Place: Mumbai DIRECTOR Date: November 14, 2018 (DIN ) Asian Star Company Limited 114, Mittal Court - C, Nariman Point, Mumbai , India. CIN: L36910MH1995PLC PREFERRED PURCHASER ill "" is a trademark used under licence from The De Beers Group of Companies 1 Trademarks owned by Dominion Diamond Corporation.:rhe ALROSA ALLIANCE logo is a trademark used under license from PJSC ALROSA I Select Diamantaire is a trademark of Rio Tinto London Limited, used under licence.

11 [0\ 1 MAHENJ?RA DOSHI & ASSOCIATES CHARTERED ACCOUNTANTS 303, Zest Business Spaces, 16, M.G. Road, Next To Doshi Nursing Home, Near East West Flyover, Ghatkopar (E), Mumbai : / : accounts@camahendradoshi.com : To, The Board of Directors Asian Star Company Limited Sub: Limited Review Report for the Quarter ended We have reviewed the accompanying statement of unaudited financial results of Asian Star Company Limited and it's subsidiaries for the quarter ended September 30th, This statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on these financial statements based on our review. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2400, Engagements to Review Financial Statements 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 an analytical procedure 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. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards 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 including the manner in which it is to be disclosed, or that it contains any material misstatement. FOR MAHENDRA DOSHI & ASSOCIATES CHARTERED ACCOUNT ANTS FRN: W Place: Mumbai (CA. MAHENDRA DOSHI) Proprietor Membership No.: Date: November 14th, 2018

The Dept. of Corporate Services, The Calcutta Stock Exchange Ltd.,

The Dept. of Corporate Services, The Calcutta Stock Exchange Ltd., QUEST FINANCIAL SERVICES LTD. Centre Point, 21, Hemanta Basu Sarani, Room No.- 230, 2 nd Floor, Kolkata-700 001 Phone No. +919831526324, E-Mail ID - investorsquestfinancial@yahoo.co.in, Website-www.questfinancial.in,