TYICF

Chemicals
lvlangalore
Limited
& Fertilizers

May06,2015

MCFUSE/2016

TheAsst.VloePresldeft,
National Stock Exchange of
Limited
ExchangePlaza,C-l, BlockG,
BandraKurla Cornplex,
Bdidri (E)
- 400 051
MUMBAT
Fax:No.022- 26598237/ 8

Depaffil rt ol Colp6r6tSgrvloeslndia CRD

BSELimited,
Floor 25, Phircze Jeejeebhoy
Towers,Dalal Street
in flBAl -,lltO 001
FaxNo.022- 22723121

DearSir,
S{rbiO{ncdrre6ldrs Bodfil iie6d'lg
\MrthrefeGnceto the subiec'tmeniionedabove,we herebywriteto informyouthat the
Boardof Directo6of the Companyin its meeiingheldtoday,May 06, 2016,interalia,
hasconsidered
endapproved
lhefollowing:
(DlN:00253371)
1. Appointment
ot Mr DA Prasanna
as Independent
DirectorMr.
Prasanna
is FounderChairman
of EcronAcrunovaCROwhois an alumnusof
llM, Ahmedabad.
Mr. Prasannahas heldmanypositionslike CEO,MD and
ExeqdiveChairmanin the companieslikeWipro,GE - BELand GE Healthcare
anddhe|s.
2. Auditedfinancialsresultsof the Companyfor the quarlerand lhe year ended
March
31,2016.
Pursuani
to lhe direc'tions
oftheAuditCommittee
at itsmeetingheldon March09,2016,
the Companyhad engagedM/s Emst & YoungLLP lo carryoui forensicinvesligation
Nto:

investmentrs
of Rs.200qores in lo BangaloreBeveragesLimitedby way of
suhsedption
to its geferencesf|ares,
(HoldingsLimited
b. variousadvancesmadeby the Companyto UnitedBrevreries
ofwhicha sumof Rs.16.68
coresis outslanding
asof March31,2016.

R e g i s t e r e d S C o r p o r d l e 0 l f i c e , l l B T o w e r , L e v e l l l , L l B c l y , 2 4 , v t t a l i a l l5y6a0R0o0a1nd,dBae n q i u r !
ml . a l s
8 a x+ 9 18 03 9 8 55 5 8 8E m a , s h a r s @ m a n g a l o r e . hceom
T e: r 9 l S 0 1 9 8555 7 5 / 6 F
tom
wwI{.mang.
orernemr]:irls
Websrte:
t24l2lKAl966P1t002036
corporale
dentilyNumber:

MCF

Mangalore
Chemicals
Limited
& Fertilizers

M/sEmsl & YoungLLP hasmadea presentation

Uponcompletionof its investigations,
ihd the
to lbe Boardaf Ditedols d its meetingheld on May 06, 2016 to the ffi
and elementsof mbmanagement
afoGsaidlransadiorcmayhaveinvolvedinegularities
intheCompany.
The Companyis takingnecessarylegaladvicein conneclionwith the findingsof i/Us
Emsl& YoungLLP.
you,
Thanking
YouB faithtully,
ior l{angalorEChemlcalsand FenilizoB Limiled

ft
\JW

Viiayafiahanth v. Khannul
CompanySocEtary

levelI l, ll8c ty,24,vlttalr\a yi Ro.d,Ben!airr! 560001,lndla

0llice:uBTo\ryer,
Reqstered
8 Corporate
+91
+91
5hnfet@manqalorechemicals.com
Fax:
80
3985
5588E_mdil:
801985
5575/68
Tel:
wwwmdnqalore.hemrcals.com
Web!i1e:
torporaledentilyNumber:124121KA1966PtC002036

K. P.RAO & CO.

CIIARTEREDACCOUNTANTS

'Poornima',
llnd Floor,25,StateBankRoad'
Bang.lorc - 560 001. Karn.tak.' Indla'
: o3o- 25537315/ 25536314
. 060 . 255E4661

DESI'ONOJ REBELIO
K P.SIDOHARTTI

Auditor's Repo* on Quanterly Financial Reeults and Yeat to Date Results of the
Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015

To
Board of Directors ol Mangalore Chemicalsand Fefilizers Limited

We have audited the quarterly financial results oI Mangalore Chemicals arld

Fertilizers Limited for the quarter ended March 31, 2016arld the year to date results
for the pedod April 01, 2015to March 31, 2016,attachedherewith, being submitted
by the company pu$uant to dre requirement of Regulation 33 of the SEBI (Listing
Obligations and Disclosurc Requirements) Regulations, 2015. These quarterly
finalrcial results as well as dle year to date financial results have been prepared on
the basis of tlle interim financial statements,which are the responsibility of the
company's management. OuI responsibility is to express an opinion on these
financial results basedon our audit of such intedm financial statements,which have
been prepared in accordancewith the recognition and measulementprinciples laid
down in Accounting Standard for Interim linancial Reporting (AS 25),prescribed,
under Section 133 of the Companies Act 2013 read witlt relevant rules issued
thereundel, as applicable and other accounting principles generally accepted in
India.
We conducted our audit in accordance with the auditing standards genelally
acceptedin India. Those standards tequire that we plan and perforn the audit to
obtain reasonableassuranceabout whether the financial iesults are fiee oI material
misstatement(s).An audit includes examinin& on a test basis, evidence supporting
the amounts disclosed as financial results. An audit also includes assessingthe
accouting principles used and significant estimates made by management We
believe that our audit provides a reasonablebastsfol ou1 opinion.
In our opinion and to the best of our infomation and accordingto the explanahons
given to us ihesequarterly financial results as well as the yeal to date results:
i.
are presentedin accoldancewith the requfuementsof Regulation33 of the
SEBI(Listing Obligations andDisclosureRequircments)Regulations,2015
in this regard; and

ch_*i,

570009 Phone 0821 325747s

Mvtote: #434,9th Crcs. 2nd Main'rK Layout'Mysote
colony,Bsanr Nasarchenna, 6000e0
Karak5het6
srrce'r.
Rukmh,
oro r,. I
;;rp".t.""i,.
Fl"tA:';;;;",

K. P.RAO & CO.

Continuation
Shoet

CHARTEREDACCOTINTANTS

ii.

give a true and fair view of the net lossand other financial inlorrnation for
the qualtel ended March 31, 2016 as well as the yeal to date tesults for the
Deriod from April01, 2015 to March 31, 2016.

EmDhasisof Mattel
We-draw attention to the following mattersin the Notes to the FinancialStatements
a) Note No 5 to the financial statementsregarding the recoverability of the
advances made to United Breweries Holding Limited (UBHL) Due to the
uncertainty of rccovedng the amouit, the management has provided for
doubtful advancesto the extent of Rs1658lakhs.
b) Note No 5 to the financial statementsrcgarding Provision of Rs 20000lakhs
made towards diminution in the value of Investment, other than temporary,
basedon the indicatots asgiven in dle note.
Ow opinion is not modified in respectof thesematters.

Fol K.P.Rao& Co.,

Chartered Accountants
Firm'sRegishationNo: 003135S

(Desmondf Rebello)
Pa.rtnel
Membership Number: 015140
PlacerGurgaon
Date :6tnMa, 2m6

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