NLC India Limited (Former Heyro Ugo Corporation Liitod ) Statement of Standalone Unaudited Financial Results for the Quarter Ended June 30, 2018 (Fin Lakh) Guarer Ended : Year Ended ‘Jone30,2018 | March 34,2018 | une, 2017 | Mareh 31,2018 Wraudited) | (Unaudited) | (Unaudited) (ducted) 1 | Revenue om Operations ‘59681 258287 225400 349.620 1t_| other tacame 14430 28,389 8200 53.085 Ww Totalincome Gl) saaant 282.876 233,600 908;05 w | expenses ‘Changs inventors 27309 29821} sa910 era Employee Berl Expenses 652 1.28468 one 308,198 Finance Costs 7881 5480 6180 70498 Depreciation and Amortization Expenses 1762 mato 18.232 05,115 thar Expenses wan ea6r0 485i 226221 Les: Expenses Captased we 2210 3” 2495, “otal Expenses (V) 162,54 199.297 188157 64878 v_ | Pott goss) tore Exceptional Tax & Rate Repulatory Activity 4¥) 21787 83379 5.443 263028 wt | exceptional tens @l 15.259] en] 5944 vn | Pitt oss) ater Exceptional tem and before Tax (VV) AI er? re 788 370 vm | Tax Expense: (1) Curent Tax = Curent Year Tax (Net of MAT Cre) 3769 6313 972 46.408 = Prova Year Tax (as 2a Tax Expenses / (Savings) on Rate Regulated Accout et 128 es30} 1.100} (2) Delered Tax roaea 5481 197 33908 1x | Prot (Loss forthe perc before Regulatory Defra Account Balances (Vl Vil) 6375 3583 518 89781 x | Net Movement in RepuatoryDeteral Account Balances Income / Expenses) 75088 51068 a9sia] 4903] 31 [Profit (oss) forthe period (HX) 31888 wa 31808 194878 | | Otter Comprehersive Income (A) tems not elas oPrft or Loss: (Na of Tax) 4420 692 2420} 6,103 1._Remessuromonts of dfnd boneft pans “otal Comprehensive Income forthe petod ("XI (Comprising Prot a] Tota tate paapenmraes bobo) 36388 96,128 23,178 ange av | Paid up Equity Shae Cantal seas sszast ss2asr 152057 (Face Vale of 10 por Share) xf | Reserve excusing Revaluation Reserve as per ltestaustedbolnce sheet sane >i | Eamings per Equty Share (before axjustrent of Net Regulatory Deel Balance: (1) Basic ®) 045 249 3st ea (2) Diutd fn &) 085 248 am 1202 ‘xv | Eamings per aul Share (ter ajustnent of Net Regulatory Delaral Blane} (1) Basiefa ®) 209 584 207 1208 (2) Diuted on €) 203 5a 207 12091) (@) The Company has adopted Indian Accounting Standards (IND AS) as prescribed under section 133 of the Companies Act, 2013 with effect from 01" April 2016. Further the company has adopted Ind AS 115 which has been brought into force from 01.04.2018, Accordingly, the financial results for the quarter ended 30" June 2018 are in compliance to Ind AS and other ‘accounting principles generally accepted in India, (b) The company has adopted Ind AS 115 “Revenue from Contracts with Customers” as stated in Para I above. The adjustments arising on account of adoption of Ind AS 115 have been considered in the Retained Eamings as on 01.04.2018. Accordingly the previous corresponding. Period figures has not been restated (.e. it is presented as reported previously) using cumulative effect approach and hence, the same is not comparable. The following table summarizes the impact, net of tax, of transition to Ind AS 115 on retained earnings as on 01.04.2018 :- (Rs. In Lakh) Impact on Retained Earnings Impact of adopting ee 7 3 ote" [ind AS 115 at 1 April 2018 Retained earnings Revenue from Operation (FY 2016-17) (2156) | 22 = Revenue from Operation (FY 2017-18) (65.781) 17937) Regulatory deferral account 31 117937 Impact at April 1, 2018 Nil * Note number relates to published Annual Report for FY 2017-18 (Standalone). ‘The following table summarizes the impact of Ind AS 115 on the company financial result for the quarter enced 30.06.2018 for each of the line item affected = Rs. In Lakh Amounts without Particulars As | ting | Mop of ae AS IIS He Total Income isa | 43,313 227.424 Profit/ (loss) after Exceptional lem and before Tax E aH 21,752__| 43,313 65,065 Net Movement in Regulatory Deferral Account Balances Income / (Expenses) 2so88_| (43.313) |__ 48.225) Profit / (loss) forthe period 31,963 31,963 Earnings per Equity Share (before adjustment of Net Regulatory Deferral Balance) Basic and Diluted (in Rs ) 04s 2.83 3.28 Beingava nomad BeShna60 0332» 3) » 3) 9) i) Consequent upon the adoption of Ind AS 115, revenue from sale of power for the quarter ending June 30, 2018 has been accounted considering the internal transfer price for lignite as calculated based on guidelines issued by Ministry of Coal as against the past practice of adopting the lignite transfer price as approved by CERC for the fixation of tariff (subject to truing up). In view of the above, gross revenue from sale of power is lower by Rs.433.13 crores with a corresponding reduction in Net Movement in Regulatory Deferral Account by the same amount, The change in the accounting practice as mentioned above has no impact on the profitability. ‘The company has filed appeals before the appellate authority (APTEL) against the following CERC orders which are pending for disposal: |. Neyveli Thermal Power Station II ~ Disallowance of de-capitalisation of LEP Assets and reduction of claim towards capital expenses while truing up for the tariff period 2009-14. Il, ignite Truing up- Disallowance of © &M escalation at 11.50% pa as per MOC Guidelines considering FY 2008-09 as the base year IIL, Sharing of profits on adoption of pooled lignite price considering the cost of Mines ~ IL Expansion. IV, _Neyveli Thermal Power Station | Expansion ~ Reduction in capital cost of Thermal Power Station I Expansion ‘The impact on the above mentioned orders have been considered appropriately under Regulatory Deferral Account Balances and Net Movement in Regulatory Deferral Balances in accordance with Ind AS 114, in the financial results. Consequent to reduction in Lignite transfer price, the Company reviewed its Regulatory liability created in the previous period and necessary reversal has been considered which is no longer required. Based on approval from Ministry of Corporate Affairs, the useful life of Specialized Mining Equipment (SME) such as Bucket Wheel Excavator, Mobile Transfer Conveyor, Spreader, Conveyors ete., was fixed as 15 years which is different from the useful life as prescribed ‘under Part C of Schedule Il of the Companies Act, 2013. Employee benefits expenses include estimated provision towards pay revision of non- executive employees for the quarter amounting to Rs. 3532 lakhs. have Provision for taxes, employee retirement benefits and other provisions for continger ‘been considered on estimated basis. Provision for taxes, employee retirement benefits and other provisions for contingencies have been considered on estimated basis, ‘Amount shown under exceptional items in the quarterly results for the quarter ended 30th June 2018 is towards expenses incurred on. voluntary retirement scheme (VRS) amounting to Rs. 5 lakhs,8) The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company in the respective meetings held on 13.08.2018 and 14.08.2018 respectively. 9) ‘The Joint Statutory Auditors of the Company have carried out the financial results as required under Regulations 33 of the SEBI Disclosure Requirements) Regulations, 2015. 10) Figures of the previous period have been regrouped / reclassified wherever necessary. For NLC India Limited Wefesab eee Place: Chennai Rakesh Kumar Date: 14.08.2018 Chairman and Managing Director (Addl Charge)NLC INDIA LIMITED. (formely Neyveli Lignite Corporation Limited) See ee mae ae eae eee ‘Add: ‘enemtemianergamrsmems| ass] sre] cna] fa er For NLC India Limited Place : Chennai Date : 14.08.2018 Rakesh Kumar (Chairman and Managing Director (Addl.Charge) eeu) eeNLC India Limited (Formerly NeyveliLignite Corporation Limited ) ‘Statement of Standalone Unaudited Financial Results for the Quarter Ended June 30, 2018 (in Lakh) ¥ Quarter Ended ‘Year Ended S.No. Particulars ‘June 30,2018 | March 31,2018 | June30, 2017 | March 31, 2018 (Unaudited) (Unaudited) (Unaudited) (Audited) 1. Total income from Operations (Net) 1.69.81 254,287 225,400 849,620 Net Profit (Loss) forthe period 2 Woetore Tax & Exceptional items) 2757 83,379 65.443 263,026 [Net Profit (Loss) forthe period before Tax 3 -| swe Cessacna aah 21,752 erat 65,172 2,68,970 Net Profit (Loss) forthe period after Tax 1 ease Capac 6.875 38,133, 51,123 189,781 Total Comprehensive Income forthe period [comprising 5 Profit (Loss) forthe period (after tax) and Other 36,383 96,123, 29,178 190,981 [Comprehensive Income after tax] 6 |Peid-up Equity Share Capital (Face Value of & 101- each) 4.52857 1.52857 4452857 1,82,857 7 Reserves (excluding Revaluation Reserve) as at 31.03.2018 : : 11,80,601 g._|Eemings Per Shae (of € 10) before adjustment of INet Regulatory Detertal Balances): a) | Basic(n @) 0.45 2.48 364 1242 by [Diuted (in &) 045 249 34 1242 g_|Famings Per Share (of ® 10) ater adjustment of Net Regulatory Deferral Balances) a) _| Basic(n @) 209 5.84 207 12.09 by [Dinted (in &) 208 5.84 207 12.09 ‘Note: ‘The above is an extract ofthe detailed format of Quarter Ended Unaueited financial results filed withthe Stock Exchanges under Regulation 23 ofthe SSEBI (Listing and other Disclosure Requirements) Regulations, 2016. The full format of the Quarterly Unaueited financial results are available onthe Stook Exchanges websites at wwrw.nseindia.com & www.bseindia.com and on company’s website ie. www.nicindia.com, Place: Chennai Date : 14.08.2018 For NLC INDIA LTD. Ped lind Rakesh Kumar Chairman and Managing Director (Addl. Charge)MIS. CHANDRAN & RAMAN MIS. P KK G Balasubramaniamé& Associates Chartered Accountants, Chartered Accountants, Paragon No. 2, Dr. RadhakrishnanSalai, Door No. 10/2, Eight Street, 2» Street, Mylapore, Gandhi Nagar, Thiruvannamalai, ‘Chennai — 600 004 Vellore — 606602 LIMITED REVIEW REPORT Report on Unaudited Financial Results for the Quarter ended June 30, 2018 Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 To The Board of Directors of M/s. NLC India Limited (Formerly Neyveli Lignite Corporation Limited) We have reviewed the accompanying statement of unaudited financial results of M/s. NLC India Limited (NLCIL) formerly Neyveli Lignite Corporation Limited)for the quarter ended 30% June,2018 prepared by the company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 05, 2016. This statement is the responsibility of the ‘Company's Managementand has been approved by the Board of Directors. Our responsibility is to issue a report on these financial statementsbased on our review. We conducted our review in accordance with the Standard on Review Engagement (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 weplan and perform the review to obtain moderate assurance as to whether the financial statements are free of materialmisstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied tofinancial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we donot express an audit opinion. Chennai 60 00% ) 60 002, ay NTTWithout qualifying our report, we draw attention to the following: a. Note 1b - The Company has adopted Ind AS 115, “Revenue from contracts with customers” which has become mandatory from 01.04.2018. Consequent to the adoption of Ind AS 115, revenue from sale of operations is lower by Rs.433.13 crores with a corresponding reduction in net movement in Regulatory Deferral account by the same amount. There is no impact on profits for the quarter with the adoption of the said standard. 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 read with notes thereon, prepared in accordance with applicable with Ind AS specified under Section 133 of Companies Act 2013, read with Rule 7 of Companies (Accounts) Rules, 2014 and other recognized accounting practices and policies thereon has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as modified by Circular No... CIR/CFD/FAC/62/2016 dated July 05, 2016 including the manner in which it is to be disclosed, or that it contains any material misstatement. For Chandrané Raman Chartered Accountants FRN No. 0005715 6 pa S. Pattabiraman Partner M No. 014309 Place: -Chennai