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Regd Oftice : 422, Laxml Plaza, Laxmi lnd. Estale, New Link Boad, Andheri(W), Mumbai - 400053.,Phone

022'39381 100 Fax : 022-39381 123

13'r' .\ugust, 2016

To,
Bombal Stock F.xchangc Limitcd
Dept. of Corporate Scn'ices
Floc.,r 2i P.f . Iirs'crs
Dal:rl Strccr,
Nlumbai 401)001
Script Codc: 532765

Dear Sir

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Sr.b: Unaudited Financial Results for thc Quarter ended 30.06.2016.

As per regulation 33 of SL,BI (1,()l)lil Rcqulatiors- 2{116, s'c arc cnclosing hr:rcs ith I n auditcd
lielics' ilcport iirr- thc (]uarrcr cnclcd 30'r'-luuc, 2016

Financial Rcsults alonu rvith Limited

Thc mccting started at 3.(X) P.II. and concludcd at. fl.15.P\l

You are recluestcd to takc tirc samc on \'()Llr rrcord.
'I hanking

lou,

Yours taithiulh'

Vlsit us a t : w w w . u s h e r a g r o . c o m lErnai

:u s h e r@ u s h e rag ro .c0

ClN, 101'|00MH'1996P1C100380

Chatta I : 158, Gohari, Delhi-Agra Highway (NH-2), Chatta, Dislrici : l\y'athura (U.P.) Tel: 05662 - 242101, 326888 Fax: 05662 - 242043

Chatta ll :632-634, Village Dautana, (NH-2) Delhi-Agra Highway, Teshil Chhata, District: [.4alhura - 281401 (UP) Tel: 08859888500
Mathura

239, [,4aholi, Krishna Nagar, Off. Delhi-Agra H]ghway (NH-2), Mathura - 281004. U P Tel: 08859008233, Faxr 565 - 2461068

Buxar ; Plot No. 1898, Chaubeji Ki Chavani, Sikrol, Jalilpur, Thana Rajpur, District

: Buxar (Biha0 -

801104 Tel: 06183

Delhi ; 405, Pearl Best Heighi - ll, Netaji Subhash Place, Pritampura, New Delhi - 1'10034. Tel: 011 - 47253336 / 27356093

- 225846

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IAYE-S_H SANGHMIKA & CO. ttP

CHARTERED ACCOUNTANTS

INDEPENDENT AUDITORS' REVIEW REPORT

To,

The Board of Directors,

Usher Agro Limited

We have reviewed the acr:ompanying statement of irnaudited iinancial results ofusher Agro
Limiteit ("the company"), for qualter encled 3Oth June, 2016. This statement is the responsibiliry
of the Company's Management and has been approved by the Board of Directors. Our responsibility
is to issue a report on the financial staten:ent based on our revjew.

we ccnducted our review in accordance with the standard on

Revier,v Engagement tsRE) 2410,

"Review of lnterim Financial Informaiion Performed by the !ntlependent ltudiioi of the Enriq,r'issued
by the institute ofChartered Accountants of India. This standard i-equires that we plan and perform
the review to obtain moderate assurance as to whether the financialstatements are free of material

misstatement. A review is limited primarily to inquiries of company personnel and analytical

proceduresappiied to financial data and thus provide less assurance than an audit. We have not
performed an audit and accordingly, we do not express an au dit opinion.

Based on our review conducted as above, except our quatified opinion given below 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 as per section 133 of

the companies Act, 2013, read with relevant rules issued there,.rnder and other recognized
accounting practices and policies has not discloscd the information required to be disciosed in
terms of Regulation 33 of the SEBI (Listing obligations and Disclosure Requirements) Regulations,
2015 including the manner in which it is ro be disclosed, or that it contains any material
misstatement.

Basis for Qualified Opinion

1.

CFSIT lnc, USA hus filed Winding-up Petition against the company for recovery of their
outstonding Dues of Rs.6,548.14 lokh ($10 Million) with the interest @12% p.a. as per the
advctnce payment ond supply cotltract. An interest amount comes to Rs. 336.08 lakh ($0.507
Million) approx. for which the comporty has not made any provision in the financial
statements.

Had the campany made such Interest provision in the statement of profit and loss, the loss
for the year would have been higher by Rs.336.08 lakh and the occumulated proftt would
have been lower by an equivalent amoltnt.

DA[$aCn
A Network Approvd by lCAl

405-407,Htnd Raiasthan Ceot.e,

:

iavesh@jsandco

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D.S.

Phaike Rd, Dadar [C. Rly.), Mumbai400014, Maharashtra

jsandco inlwww batgach com

'J:JJi::'.ll:lll?',11"?l;:rvwiv

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2.

IAYESIH S_ANGH,RAIKA & CO. LLP

CHARTERED ACCOUNTANTS

PT Bank Maybank Indonesia Tbk, Mumbai has fired winding up petition against the
compony for recavery of their outstanding Dues of Rs. i7zg.1g lakh with
Lie interest
@16.40k p.a. The proceeding is pending before Hon'bre Bombay High court. An interest
antount cotnes to Rs.6.28 lakh approx. for which the company has not mode any provision itt
the fi no ncial state ments.

Had the company made such lnterest provision in the stotement of proftt and loss, the
loss
for the year would have been higher by Rs.6.2B takh and the accumulated profit would hove
beei lower by an equivolent amonnt.

Axis bank has imposed Penal chorges amaunting to Rs.70.4s lakh. However such
expenditure has not been expensed out in the statement of profit and loss and the same
is
adjusted against short term borrowing from bank.
Had the company expensed out such penar charges in the statement of profit ond ross,
the
loss for the yeor would have been higher by Rs. 70.4s rakh
and accumuraied profit wourd
hove been lower by on equivarent amount and short term borrowing woutd iave
been
lower by on equivalent omount.

For fayesh Sanghrajka & Co.LLp

Chartered Accountants
ICAI Firm Registration No- 104184W/ W100075

Date: l3thAugust, 2016

A t g+^g
A Network Approved by

lCAl

il,1;111#ir"1,

[::T;)"4

Centle, D.S. Phalke Rd, Dadar [C. Rly.), Mumbai400014, Maharashtra

| 4077 4600 fl8 LhesJ Weilsite: www.jsandco.in/www.batgach.com
Branches at Kanjurmarg & Vashi

Registered Office:422,Laxmi plaza, Laxmitndustrial Estate, New

tink Road, Andheri (W) Mumbai,53
Tel: 022-39381100, Fax : 022-39aA1tZ3
{CIN- LOl1OOMH1996pt-C1OO3iOi

STAIEMNTOF UNAUDITED FINAXC.^L

(Lorsl from Operations before Ottterlnconre,

from ordinary activities berore finance cost & and

from ordinary actjvities after Financ cost but

Profit/(Loss)aftertares, minority interestand

ebove unaudited financial results for thi J unei ua rter

committee and approved atthe meeting ofboard of

onJune 30,2016 have been reviewed by

lnaccordancewiththereqUirementsofre8ulation3:ottt'"stet@
2015, the statutory auditors

ofthe company

have carried out Limited Review

ofthe above unaudited financial results

of

the

Allthelendersofthecompany,in,ointLendrsEo..
RestructurinS (soR) schme for the improvement of financial situation ofth
company. ln the said ILF meetinS dated 13th
May 2016, was decided as the rference date forSOR. At presen! the SDR Scheme
is under lmplementation.

thequarter,companyhassoldo.96LakhMTsUb..t"na@
)ment & other bacterialinfection and hi8h moisture content.

companyoperate5inonlyoneprimarybUsine5sseg.enti.".@
lent in terms ofAccountins Standard {As) 17 on "seSment ReportinS', issued by the tnstitute
of chartered Accountanrs of
iia, hence no separate segment reporting is required,ln Geographical Busjness
segment the revenue forthree Months are
follows. 1) Oomestt Rs.22621.35 lacs. 2) Exports Rs. 80.14 Lacs.

ThecompanywillaccountforMATcreditentitlement,ifany,and@
(AS) 22 on Accounting

for taxes on tncome at th nd of the financialyear.

yearrPeriods Figures have been .egrorrpedTrea.rangeJiiliGiiiEssary-

ot
&(t

"1\

,.

Vinod Kumar Chafurvedi

Mahaging Director & CfO
DtN-0032s197

Regd Off:. 422,Lermi Plara,

NewLink
39!i81123

Mumbei-53.