KOPRAN LIMITED STATEMENT OF CONSOLIDATED AND STANDALONE UNAUDITED FINANCIAL RESULTS FOR QUARTER AND SIX MONTHS ENDED 30th SEPTEMBER, 2018

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1 KOPRAN LIMITED STATEMENT OF CONSOLIDATED AND STANDALONE UNAUDITED FINANCIAL RESULTS FOR QUARTER AND SIX MONTHS ENDED 30th SEPTEMBER, 2018 Particulars Consolidated For the Quarter ended Consolidated Half Year ended Unaudited Unaudited Unaudited Unaudited Unaudited (1) Revenue from Operations 9, , , (2) Other Income [(31 Foreain exchanae Gain Total Income ( (5) Expenses (a) Cost of materials consumed 4, , , , , (b) Purchase of stockintrade (c) Changes in Inventories of finished goods, stockintrade and (1,300.94) (523.59) (1,049.00) workinprogress (d) Employee benefits expense , , (e) Finance costs (f) Depreciation and amortisation expense (g) Other expenses 1, , , , , lhl Foreain exchanae Loss Total Expenses (6) Profit I (Loss) before exceptional items and tax (45) (7) Exceptional items (Net) (8) Profit I (Loss) before tax (67) (9) Tax expense (c) Current Tax (b) Deferred Tax Ccl Taxation adiustment of earlier vears Profit 1 ILossl for the oeriod (11) Other Comprehensive Income (i) Items that will not be reclassified to profit and loss (a) Remeasurements of defined benefit plans (5.91) (3.87) (1.00) (9.78) (2.00) Income tax effect on Remeasurement of defined employee benefit plans (b) Net changes in Fair value of investments in equity shares 0.53 (1.27) (0.74) carried at fair value through OCI Income tax effect on Fair value of investments in equity shares carried at fair value through OCI ii) a) Items that will be reclassified to profit or loss b) Income tax relating to items that will be reclassified to profit or loss Total Other Comprehensive Income I (Loss I for the period 111> (4.091 ( Total Comprehensive Income I (Lossl for the Period (13) Paidup Equity Share Capital (Face value Rs. 10/ each) 4, , , , , (14) Eamings Per Share (EPS) (Face value Rs. 10/ each) (a) Basic /bl Diluted Consolidated For the year ended Audited 31, , , (498.81) 3, , , (5.41) , Standalone For the Quarter ended Unaudited Unaudited Unaudited 4, , , , , , (72.23) (219.47) (4.00) (98.46) (28.32) (3.87) (3.87) (1.00) (0.49) (0.25) (3.28) 13.04) 11.00l , , , (0.16) ro.1s) 0.13 Standalone Half Year ended Unaudited Unaudited 7, , , , (291.70) (706.00) , , (7.74) (2.00) 2.16 (0.74) ( , , (Rs. In Lakhs) Standalone For the vearended Audited 15, , , (405.64) 1, , (5.41) , / /;,J

2 Notes: 1) The Statement of standalone and consolidated financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act 2013, read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015, Companies (Indian Accounting standards) (Amendment) Rules, 2016 and other accounting principles generally accepted in India. There is no minority interest. 2) The above standalone and consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 05th November, 2018 and have been subjected to limited review by the Statutory Auditors of the Company. 3) According to the requiremenls of Ind AS and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, revenue for the corrospcnding previous six months ended 30 September 2017 and year ended 31 March 2018 were and are reported inclusive of Excise Duty. The Goverment of India has Implemented Goods and service tax (GST) from 01 July 2017 replacing excise duty. Service Tax and various other indirect taxes. As per Ind AS 18, the revenue for the quarter ended 30 September, 2018, 30 June 2018, and 30 September 2017, is reported net of GST. Had the previously reported revenue shown net of excise duty, comparative revenue of the Company would have been as follows: Particulars Consolidated Consolidated Consolidated Standalone Standalone Standalone Quarter ended Half Year ended For the year ended Quarter ended Half Year ended For year ended 30Sep18 30Jun18 30Sep17 30Sep18 30Sep17 31Mar18 30Sep18 30Jun18 30Sep17 30Sep18 30Sep17 31Mar18 Unaudited Unaud~ed Unaudited Unaudited Unaudited Audited Unaudited Unaudited Unaudited Unaudited Unaudited Audited Revenue from Operations 9, , , , , , , , , , , , Less: Excise Dutv (139.00l ) (1.00) Net Revenue from Opeartions 9, , , , , , , , , , , , ) The Company is engaged primarily in the Pharmaceuticals business and there are no separate repcrtable segments as per Ind AS 108 on " Operating Segment Reporting". 6) Figures for the previous period have been regrouped or reclassified, wherever necessary to make them comparable with the figures of the current period. Place : Mumbai Date : 5th November 2018 ~l '' ~~ ~(M'" '?'\J''" J?,'.'</ :/;,c... ~ \ ::oa ;;~Y!m, ~'.>.i«.::j I ~~:_:..~. e vice Chairman

3 7) Standalone I Consolidated Statement of Assets and Liability: Particulars ASSETS 1. Noncurrent assets Property, Plant and Equipment Capital workinprogress Goodwill Other Intangible Assets Intangible assets under development Financial Assets Investments Loans Deferred tax assets (net) Other noncurrent assets Total Noncurrent assets 2. Current assets Inventories Financial Assets Trade receivables Cash and cash equivalents Bank Balances other than cash and cash equivalents above Loans Others Current tax assets (net) Other Current Assets Total Current Assets Total Assets EQUITY AND LIABILITIES Equity Equity Share Capital Other Equity Total Equity Liabilities 1. Noncurrent liabilities Financial liabilities Borrowings Provisions Deferred tax liabilities (net) Total NonCurrent Liabilities 2. Current Liabilities Financial Liabilities Borrowings Trade payables Other Financial Liabilities Other current liabilities Provisions Current tax liabilities (Net) Total Current Liabilities Total Equity and Liab1lit1es Refer accompanying Notes to the financial results Place : Mumbai Date : 5th November, 2018./. '" ~!',.":/ <. ~... \.,. ' ". \ (Rs. in Lakhs) Consolidated Standalone As at As at As at As at Unaudited Audited Unaudited Audited 10, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,036.91,_~... ~ gfjjf~,~.. {,..:: 1, rs~, :',',..J I~: i1 FOR K.r~N ~IMITED ~~:s, /..., ~~~ ~"'Executive Vice Chairman \ 40.Jo;r :..:.:; ~i.r ''/ I

4 _w_eb_si_te_: ww_w_.k_ic_o._ne_t_ _E_m_a_il_: c HARTE RED ACCOUNTANTS 6B&C, Pil Court, 6th Floor, 111, M. Karve Road, Churchgate, Mumbai Tel.: (+9122) Fax: B, Baldota Bhavan, 5th Floor, 117, M. Karve Road, Churchgate, Mumbai Tel.: (+9122) Fax: Independent Auditor's Review Report on Quarterly Unaudited Standalone Financial Results of Kopran Limited Pursuant to the Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 To the Board of Directors of Kopran Limited 1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of Kopran Limited, ("the Company") for the quarter and half year ended September 30, 2018 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 05, The Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard ("Ind AS") 34 "Interim Financial Reporting", prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review. 2. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', 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 Statement is free of material misstatement. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly,

5 CHARTERED ACCOUNTANTS CONTINUATION SHEET 2 3. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement of Unaudited Standalone Financial Results, prepared in accordance with the aforesaid Indian Accounting Standards (Ind AS) prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognized accounting practices and policies generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement. For Chartered Accountants, Firm Registration No.: W Cd} (S.S. SHAH) PARTNER Membership No.: Place: Mumbai Date : November 05, 2018

6 Website: 6B&C, Pil Court, 6th Floor, 11 l, M. Karve Road, Churchgote, Mumbai Tel.: (+9122) 431 l 5000 Fox: 431 l 5050 CHARTERED ACCOUNTANTS 12B, Boldoto Bhavon, 5th Floor, 117, M. Karve Road, Churchgate, Mumbai Tel.: (+9122) 431 l 6000 Fax: 431 l 6060 Independent Auditor's Review Report on Quarterly Unaudited Consolidated Financial Results of Kopran Limited Pursuant to the Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, To the Board of Directors of Kopran Limited 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Kopran Limited, ("the Parent" or "the Company") and its subsidiaries (the parent and its subsidiaries together referred to as "the Group") for the quarter and half year ended September 30, 2018 ("the Statement"), being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 05, The Statement, which is the responsibility of the Parent's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard ("Ind AS") 34 "Interim Financial Reporting", prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review. 2. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity' 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 Statement is free of material misstatement. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides ;::\~ :~~ ~.~~~~~. less assurance than an audit. We have not performed an audit and, accordingly,.;, ;: /.,.c,:.~\.,. ff~:~" r,.(\ \'.; c;.we do not express an audit opinion. ~, ( \ t,. ' ' ' ' ' \F\ v... r "1'vi} ' ' ' ';fy/,~, c,;~;; ~,,.1 ;:c:::..

7 CHARTERED ACCOUNTANTS CONTINUATION SHEET 2 3. The Statement includes the results of the following subsidiaries: Kopran Research Laboratories Limited Kopran Lifesciences Limited Kopran (H. K) Limited. 4. (a) We did not review the interim financial results and other financial information relating to two subsidiaries whose interim financial results, before consolidation adjustments, reflect total assets Rs. 21, lakhs as at September 30, 2018, total revenues of Rs. 4, lakhs and Rs. 8, lakhs, profit after tax of Rs lakhs and Rs lakhs and total comprehensive income of Rs lakhs and Rs lakhs for the quarter and half year ended September 30, 2018, respectively, as included in the accompanying Unaudited Consolidated Financial Results. These interim financial results and other financial information have been reviewed by the other auditors whose reports have been furnished to us by rhe management. Our conclusion on the unaudited quarterly financial results, in so far as it relates to such subsidiaries are based solely on the reports of the other auditors. (b) We did not review the interim financial results relating to one foreign subsidiary, whose interim financial results reflect total assets of Rs lakhs as at September 30, 2018, total revenues of Rs lakhs and Rs lakhs, profit after tax of Rs lakhs and Rs lakhs and total comprehensive income of Rs lakhs and Rs lakhs, respectively, for the quarter and half year ended September 30, 2018 as included in the accompanying Unaudited Consolidated Financial Results, whose financial information have not been reviewed by their auditors and have been certified by the Management. According to the information and explanations given to us by the Management, these interim financial results are not material to the Group.

8 CHARTERED ACCOUNTANTS CONTINUATION SHEET 3 5. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement of Unaudited Consolidated Financial Results, prepared in accordance with the aforesaid Indian Accounting Standards (Ind AS) prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognized accounting practices and policies generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement. For Chartered Accountants, Firm Registration No.: W (S.S. SHAH) PARTNER Membership No.: Place: Mumbai Date : November 5, 2018.

ESSEL PROPACK LIMITED. CIN: L74950MH1982PLCO28947 Regd. Office : P.O. Vasind, Taluka Shahapur, Dist. Thane, Maharashtra

ESSEL PROPACK LIMITED. CIN: L74950MH1982PLCO28947 Regd. Office : P.O. Vasind, Taluka Shahapur, Dist. Thane, Maharashtra ESSEL PROPACK LIMITED CIN: L74950MH1982PLCO28947 Regd. Office : P.O. Vasind, Taluka Shahapur, Dist. Thane, Maharashtra421604 GLOBAL OPERATIONS UNAUDITED CONSOLIDATED FINANCIAL RESULTS ended 30Jun 31Mar