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Regd. Office .

# 16/2, Residency Road, Bangalore A 560 025. (INDIA)Telephone : 41272200, 41272220

Fax No. 91 - (080) - 33477491, Email : gokex@vsnl.comCIN : L18101KA2004PLC033475

gokoldos exports I’rd

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Telephone : A127 00. 41272220

Fax No. 91 — (080) — 33477491, E-mail : gokex@vsnl.comCIN : L18101KA2004PLCO33475

Interlek

gokoldos exports I’rd

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2017

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place Bennnluru

Regd. Office :

# 16/2, Residency Road, Bangalore - 560 025. (INDIA)Telephone 2 41272200, 41272220

Fax No. 91 - (080) - 33477491, E-mail : gokex@vsnl.comIntertek

CIN : L18101KA2004PL0033475

Hour 6, Nb, 5, Prestige Midday Tower

Raj iihavan Road

Benguluru mom, iNDIA

Telza91 to am 5 0000

f9 Associates

Chartered Accountants

Auditor’s Report On Quarterly Financial Results and Year to Date Financial Results of the CompanyPursuant to the Regulation 33 of the SEN (Listing Obligations and Disclosure Requirements)

Regulations, 2015

To the Board of Directors of Gokaldas Exports Limited

1. We have audited the accompanying Statement of Standalone Financial Results of Gokaldas ExportsLimited (‘the Company') for the quarter and year ended March 31, 2019 (the ‘Staternent‘), beingsubmitted by the Company pursuant to the requirement of Regulation 33 of the SEBi (ListingObligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No

CiR/CFD/FAC/(zZ/Zoio dated July 5, 2016.

Z. The Statement, as it relates to the quarter ended March 31, 7.019, are the balancing figures betweenaudited standalone figures in respect of the full financial year and the published standalone year to

date figures up to the end of the third quarter of the financial year, prepared in accordance with the

recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial

Reporting“ (‘ind AS 34’). The Statement also relates to the year ended March 31, 2019 and has been

prepared on the basis of the related standalone financial statements for the year ended March 31,2019, prepared in accordance with the indinn Accounting Standards prescribed under Section 133 of the

Companies Act, 2013, read with the Companies (indian Accounting Standards) Rules, 2015, as amended,and other accounting principles generally accepted in india. This Statement is the responsibility of the

Company‘s Management and is approved by the Board of Directors. Our responsibility is to express an

opinion on the Statement based on our audit of standalone financial statements for the year endedMarch 31, 2019 and our review of standalone financial results for the nine months period endedDecember 31, 2018.

3. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10)of the Act. Those Standards require that we comply with ethical requirements and plan and performthe audit to obtain reasonable assurance about whether the Statement is free from material

misstatement,

An audit involves performing procedures to obtain audit evidence about the amounts and the

disclosures in the Statement. The procedures selected depend on the auditor’s judgment, including theassessment of the risks of material misstatement of the Statement, whether due to fraud or errors in

making those risk assessments, the auditor considers internal control relevant to the Company‘spreparation of the Statement that give a fair presentation view in order to design audit proceduresthat are appropriate in the circumstances, but not for the purpose of expressing an opinion on theeffectiveness of the Company’s internal controls An audit also includes evaluating the appropriatenessof the accounting policies used and the reasonableness of the accounting estimates made by the

Company‘s Directors, as well as evaluating the overall presentation of the Statement.

Head Office: Floor 3, Enterprise Centre, Nehru Road, Net-1r Domestic Airport, vile Parle (E), Munibai 400099, INDIA. Tel: -r 91 22 3351: soon

«ego, Nos (05047W i Ahmedabad 1 nongaium 1 Chennai 160;; | ourugmm | Hyderabad l Kolkata l Mumbni l Pune Wmmskgsn

Flat)! 6, No, 5, I’resttge Khoday'ibwerRaj llhavan Road

Kerigaluru 560001, INDIA

Tel: e91 110 6815 0000

8’ Associates

Chartered Acmuntants

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis

for our audit opinion on the Statement.

Opinion

4. in our opinion and to the best of our information and according to the explanations given to28inion

73ex9TfTj1.307 Tf1471.09f1.5Regul 0 0 1 299.082 6.406 Tm(ba116TfTj1.3079.9rte47209491.471331 317.325 617.846 Tm878)Tj/R8 7.8.2031047209491.4710 1 22m8949ex4List 0 1 36m(206Tj/R8 9.701.189471 0 91.471Obl42 0 0 1 449.348 1080el543 5Tj51Tj/R8 81.5pro485 0 Tf0.9 0 1 318.287 618.327 Tm(52.5715 611in869)T4j19959233 Disclosur 1 392.695 540.076 Tm(e/R8Tj1.2346m(thT4j1. Tf0.9Requir8 0 0 )345 Tm(53)Tj/R8 27 621 4j15.00944 0egul 0 0 .69 0 16123 540.076 TTm(577ained)Tj/92f9 4j15.00944 ZDiS 1 432.061 542.956 Tm0 95TfTj1.30.7632hT4j1.7824 0 as1 177.145 543.436 Tm(40.j/R8 7.6811.04j1.7824 0 modifie 1 318.285 540.556 T01.0115)Tj/R8357 6.04j08741.3114y 1 484.868 768.107 m(proTj/R8 7.701612T4j1. Tf0.9Circul 1 113.296 606.805 Tmur)15)Tj/R8 .766st)4j14659233 0 . 1 484.868 768.107 m(593tered)Tj76081 T4j15.00944 ClR/CFD/FAC/oZ/Zoié1 327.406 617.366 Tm(5412Tj/R8 81.5pro468142388 54date 1 318.285 Tf3.107 Tm5610.j/R8 7ex4(R8.107452.5715 July1 318.285 540.556 T01.46(01Tj/R8 .72012T107452.5715 0 1 4Tm(76l:)Tj0.9)Tj.0)Tj107452.5715 6066;1 299.082 542.476 Tm(and)Tj/R8 180 0 59.701.18962 0 0 1 164.183 543.436 Tm(82)Tj/R8 50..68j/R31.22692 ii.1 487.745 540.556 T01.241782j/R8 81.5pro450.71 T6798 0 0s1 432.061 542.956 Tm(a)Tj/R8 7.540.est)4544704 0 0 1 498.31 61543.436 Tm()Tj)Tj1.234ud157ai454422 T6798tru956 Tm(bd)Tj/R8 6.50.741o454422 T6798 0 1 160.e3n

Floor 6, No, 5, Prestige Klinday Tower

Raj Blinvan Road

Uengaluru 550001, INDIA

Tel: at so was 0000

67> Associates

Chartered Accountanu

other Matter

6. The comparative financial information of the Company {or the quarter and year ended March 31, 2018

are audited by the predecessor auditor whose report for the quarter and year ended March 31J 2018

dated May 24, 7018 expressed an unmodified audit opinion on those financial statements, is as adjustedfor accounting adjustments pursuant to the scheme of amalgamation and armngemem. between the

Company and its subsidiaiy as approved by the National Company Law Tribunal (NCLT) vide order dated

March 08, 2019, the appointed date being April 01, 2016, which have been audited by us.

Our opinion is not modified in respect of this matter.

For MSKA t‘: Associates

Chartered Accountants

lCAl Firm Registration No.105047W

Deepak Ran

Partner

Membership No‘: 113292

Place: BengaluruDate: May 17, 2019

Head Office: Flour 3, Enterprise Centre, Nehru Road, Near Domestic Airport, Vile Parle (a), Mumbai 400099, lNDIA, Tel: +91 22 3358 9300

Read, No, 105mm 1 Ahmedabad l Bengaluru | Chennai l Goa 1 Gurugram | Hyderabad | Kolkata i Mumbai | Pune Wwwtmsliajj‘

l‘lom' 6, No. 5, llroslige Khuday'l’owm‘rm flliavan Road

Bongaluru 560001, mom

Tel: «91 ill] 5315 0000

89 Associates

Chartered Accountants

Auditor’s Report On Quarterly Consolidated Financial Results and Consolidated Year to Date Financial

Results of the Company Pursuant to the Regulation 33 of the SEBl (Listing Obligations and Disclosure

Requirements) Regulations, 2015

To the Board of Directors of Gokaldas Exports Limited

1. We have audited the accompanying Statement of Consolidated Financial Results of Gokaldas DrportsLimited (the ‘Company') and its subsidiaries (the Company and its subsidiaries together referred to as

“the Group") and its associates for the year ended March 31, 2019 (the ‘Statement’) , being submitted

by the Company pursuant to the requirement of Regulation 33 of the SEBl (Listing Obligations and

Disclosure Requirements) Regulations, 2015, as modified by Circular No, ClR/CFD/FAC/oZ/Zoié dated

July 5, 2016.

2‘ The Statement, as it relates to the quarter ended March 31. 2019, are the balancing figures between

audited consolidated figures in respect of the full financial year and the published consolidated year to

date figures up to the end of the third quarter of the financial year, prepared in accordance with the

recognition and measurement principles laid down in lndian Accounting Standard 34 “interim Financial

Reporting” ('lnd AS 34’)i The Statement also relates to the year ended March 31, 2019 and has been

prepared on the basis of the related consolidated financial statements for the year ended March 31,

2019, prepared in accordance with the Indian Accounting Standards (Ind AS) prescribed under Section

133 of the Companies Act, 2013, read with the Companies (Indian Accounting Standards) Rules, 2015,

as amended, and other accounting principles generally accepted in lndia. This Statement is the

responsibility Dl the Company's Management and is approved by the Board of Directors. Our

responsibility is to express an opinion on the Statement based on our audit of consolidated financial

statements for the year ended March 31, 2019 and our review of consolidated financial results for the

nine months period ended December 31, 2018,

3. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10)of the Act. Those Standards require that we comply with ethical requirements and plan and perform

the audit to obtain reasonable assurance about whether the Statement is free from material

misstatement,

An audit involves performing procedures to obtain audit evidence about the amounts and the

disclosures in the Statement. The procedures selected depend on the auditor’s judgment, including the

assessment of the risks of material misstatement of the Statement, whether due to fraud or error, In

making those risk assessments, the auditor considers internal control relevant to the Company's

preparation of the Statement that give a fair presentation View in order to design audit procedures

that are appropriate in the circumstances, but, not for the purpose of expressing an opinion on the

effectiveness of the Company’s internal controL An audit also includes evaluating the appropriateness

of the accounting policies used and the reasonableness of the accounting estimates made by the

Company’s Directors, as well as evaluating the overall presentation of the Statement.

Head 0mm: Floor 3, Enterprise Centre, Nehru Road, Near Domestic Airport, Vile Pane (E), Mumbol 400099. mum, rel: lot 22 335!) 9600

Read.No.10§iM7W | Ahmednbad ; Bengaluru l Chennai 5 Goa l Gurugram l Hyderabad l Knlkata I Munrbai l Pune ww mslggg

Floor a, No. 5, Prestige Khodny Tower

llaj Bhavan Road

iiengaluru 560001, (NDIA

Tel: ‘91 so 6815 0000

6’ Associates

Chartered Accountants

We believe that the audit evidence obtained by us and the audit evidence obtained by the other

auditors in terms of their reports referred to in the paragraph below, is sufficient and appropriate to

provide a basis for our audit opinion on the Statement.

Opinion

4. in our opinion and to the best of our Information and according to the explanations given to us, the

Statement:

i. includes the financial results of the entities (listed in Annexure A) considered for consolidation for

the year ended March 31, 2019;

ii. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligationsand Disclosure Requirements) Regulations, 2015, as modified by Circular No. ClR/CFD/FAC/o2/201é

dated July 5, 2016; and

iii, gives a true and fair View in conformity with the aforesaid Indian Accounting Standards and other

accounting principles generally accepted in india of the consolidated net profit, total

comprehensive income and other financial information of the Group for the year ended March 31,2019,

Emphasis of Matter

5, We draw attention to Note 7 to the financial results which states that one of the foreign customers with

an aggregate outstanding balance of Rs. 441 lakhs as on March 31, 2019 has filed a plan for

reorganisation of its business and creditors in the court, Consequently, based on lhe recommendation

of legal counsel, the Company has filed a claim with the relevant authorities for the amount due from

the said customer. Further, the Company has created a provision on account of expected loss

amounting to Rs, 133 lakhs on the balance clue from the Customers

Subsequent to the reorganisation plan filed by the customer, the Company has made further dispatchof goods amounting to Rs. 845 lakhs to the said Customer based on updated purchase orders, in

accordance with the provisions of ‘lnd AS 115 Revenue from Contracts with Customers’, the Companyhas postponed recognition of revenue towards the said goods as there is significant uncertainty with

respect to collectability.

Our opinion is not modified in respect of this matter,

Other Matters

6, We did not audit financial statements of three subsidiary companies, whose financial statements

reflect total assets of Rle,115 lakhs as at March 31, 2019 (year to date), total revenues of Rs. 366

lakhs as at March 31, 2019 (year to date), as considered in the Statement, The financial statements of

these subsidiaries have been audited by the other auditors whose reports have been furnished to us bythe management, and our opinion on this Statement, in so far as it relates to the amounts and

disclosures included in respect of these subsidiaries and our report in terms of sub-section (3) of

Section 143 of the Act, insofar as it relates to the aforesaid subsidiaries, is based solely 0 14:32pmof other auditors. aPhSSOC,

Vam0') ‘1Yr

,3”

Head Office: Floor 3, Enterprise Centre, Nehru Road, Near Domestic Airport, Vile Perle (E), Mumbai 400099, INDIA, Tel: +91 21 3358 9800

mega. No. roso47w r Ahmedabad l Bengalurrr r Chennai 1 Goa r Gurugram r Hyderabad l Kolkata | Mumbai r Pune wwwmskadn

Hour 6, no, 5, Prestige Kimday rower

Raj miam Road

Bengalum 560001, mom

Tel: s91 so em 0000

83’ Associates

Chartered Accounlaliis

7, The comparative financial information of the Company for the quarter and year ended March 31, 2018were audited by the predecessor auditor whose report for the quarter and year ended March 31, 2013dated May 24, 2018 expressed an unmodified audit opinion on those financial statements

Our opinion is not modified in respect of these matters.

For MSKA 8: Associates

Chartered Accountants

iCAi Firm Registr' ion No.105047W

Deepak Rao

Partner

Membership Ncu: 113292

Plat BengaiuruDate: May 17, 2019

Head Office: Hour 3, Enterprise Centre, Nehru Road, Near Domestic Airport, Viie Park: (E), Mumbai 400099, iNDiA, Tel: +91 22 3358 9800negd, No, 105047w y Ahmedabad 1 Bengaiuru 1 Chennai 1 Goa l Gurugmm i Hyderabad 1 Koikala z Mumbai l Pune mm (1

Floor (A, ND‘ 5, Presflge Khoday Tower

Raj Bimvan Road

5 gdluru 560001, iNDIA

rel: '91 80 OMS 0000

an Associates

Thancred Accountants

Annexure A:

1. Alt Cuiour Garments Private Limited

2‘ SNS Clothing Private Limited

3. Vignesh Apparels Private Limited

Head Office: Flaar 3, Enterprise CenUe, Nehru fioad, Near Domestic Airport, Vile Farle (EL Mumbai 400099, INDIA, Tel: +91 22 3358 92100

Regd‘ No. msmw 1 Ahmedabzd 1 Bengalum 1 Chennai | can i Gurugldm i Hyderabad I Kalkata | Mumbai i Fume ywx‘amskmg

gokoldos exporis Lid

GEL/SEC/2019-20 17th May, 2019

BSE Limited The National Stock Exchange of India Limited

Floor 25, P.J Towers, Exchange Plaza,Dalal Street, Bandra — Kurla Complex, Bandra (E),MUMBAI , 400 001 MUMBAI-400 051

SCRIP CODE: 532630 GOKEX

Dear Sir

Sub: Declaration pursuant to Regulation 33(3)(d) of the Securities and Exchange Board of india

(Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended

1, Sivaramakrishnan Ganapathi, Managing Director of M/s Gokaldas Exports Ltd having its registeredoffice at No.16/Z, Residency Road, Bangalore

— 560025, hereby declare that, the statutory Auditor of

the Company M/s. MSKA & Associates (Firm Registration number: 105047W) Chartered Accountants

have issued an Audit Report with unmodified/unqualified opinion on Annual Audited Results of the

Company (Standalone and Consolidated) for year ended March 31, 2019

This declaration is issued in compliance or Regulation 33(3)(d) of the SEBI (LODR) Regulations, 2015

as amended by the SEBI (LODR) (Amendment) Regulations, 2016 vide notification No.

SEBI/LADNRO/GN/2016 -17/001 dated 25/05/2016 and Circular no. ClR/CFD/CMD/56/2016 dated May27, 201!»

For Gokaldas xports Ltd

1 pSivaramakris n GanapathiManaging Dire or

Regd. Office :’

#16/2. Residency Road, BANGALORE — 560 025 (INDIA) (w,Telephone : 22223600 — 1- 2, 41272200

| smvk,Fax No.91 - (080) — 22274869, 22277497, E-mail :gokex@vsnl,com

nterte

PRESS RELEASE GOKALDAS EXPORTS

Gokaldas Exports Ltd. continued its journey of growth and profitability during Q4 FY19 and

reported total income of R5330 Crs (YOY +9%) and net profit of Rs.11.32 Crs (YOY

+149%), after taking a one-time provision of Rs,6.3 Crs.

The key highlights for FY19 are

Financial:

. Total income of Rs.1 196 Crs, 11% increase on YoY basis

. Operating profits ol‘Rs.77 Crs, 3 times more than that in FY18

o Net profits of 115.2558 Ci‘s, as against a loss of31 Crsi in FY18

. Reduction in gross debt by more than R590 Crs during the year

Others

0 The company added 7 new marque customers during the year

. Improvement in all operating parameters like production efficiency, material

consumption, wastages and on-time production and delivery.o Investment of R536 Crs in capacity increase and modernization,

The tum-around in profitability of company in FY19 was achieved due to company’s focus

on strengthening customer relationship, operational excellence, and cost effective capacity

expansion

The company is confident of sustained growth in revenues and profitability going forward

given a good demand environment and strong competitive position of the company.

Date: May, 17 2019