May 29, 2018

To,

The Compliance Department,BSE Limited,

P. J. Towers,Dalal Street, Fort,

Mumbai — 400 001.

Dear Sir/Ma’am,

Subject: Outcome of the Board Meeting held on May 29, 2018.

Ref.: Vishal Fabrics Limited, Scrip Code: 538598, Security ID: VISHAL

in Pursuant to the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirement)Regulation 2015, we hereby inform you that Meeting of the Board of Directors held on May 29,2018 at 3:00 pm. and Concluded atE’gfhas transacted the following business.

K'QFPM1. Approved the Statement of Audited Standalone Financial Results along with unmodified Audit

report of the Company for the quarter and year ended 315‘ March, 2018.

2. Appointed Mr. Deepak Vyas, as Company Secretary and Compliance officer:

Mr. Deepak Vyas Associate Member of the Institute of Company Secretaries of India havingExperience of five years in the field of Secretarial and Compliance Department of listedentities have been appointed as Company Secretary and Compliance officer w.e.f. May 29,2018.

The above is for your kind information and record.

Thanking you,

For VISHAL FAB 5 [C

it»Brijmohan Chiripal

Managing Director

DlN:00290426

Encl.:a/a

Vlshal Fabrics Limited

(CIN: L171106J1985PL0008206)

Corporate Offica:, Plant 5 Registered office :

Chiri at House, Near Shivranjani Ranipur. Naral Road,Ahmedabad-382405, Gujarat, lndia.

Cros: Roads, Satellite, Ahmedabad-380015, Gujaratlndia. Ph 1 079~25353977i78fl9t80 Fax :_ 97925353981Ph : 079-26734660/2/3 Fax : 07926768656 Email : chinpaIQchinpalg‘roupicomEmail : corporate@chiripalgroup.com Web :www,vrshalfabricsltd.comWeb : www.chiripalgroupicom

Statement or profit and loss tor the yelr ended 31 March 2010 'V'ISHAL FABRICS LIMITED

(All amounts are in Rupees in lakhs, except share data and as stated)

ParticularsQuarter ended Year ended Year ended

31 March 2018 31 December 2017 31 March 2017 31 March 2018 31 March 2017

Revenue from operltinns 25,286.40 24,613.65 14,094.74 89,093.65 37,363.63

Other income 57171 6.99 4.95 104.44 27165

Total income 25,344.11 24,620.64 14,099.69 89,193.09 37,391.28

Expenses - -

Cost of materials consumed 22,176.69 20,59544 10,100.48 75,641.30 26,728.16

Purchases of siock-in—flade (0.01) (27.30) - 331.32 764.52

Changes in inventories of finished goods, work-in progress.

slack in trade and packing materials (429.73) (351.15) 1,211.16 (1,951.94) (63.24)

Employee benefits expense 1,978.91 1,537.67 1,582.64 6,117.53 4,528.47

Finance c0515 546.64 673.15 179.55 2,269.49 526.46

Depreciation and amortisation expense 552.36 284.64 207.11 1,366.78 626.39

Other expenses 375.43 1,152.89 414.11 3,464.42 2,366.73

Total expenses 25,201.33 23,365.34 13,695.05 87,238.89 35,477.50

Profit before exceptional items and income tax 142.79 755.30 404.64 1,959.21 1,913.78

Exceptional items 8.02 0.29 (1.31) 3.31 1.31

Profit before tax 150.80 755.59 403.33 1,967.51 1,915.08

Income tax expense

Comm tax (MAT for the year) 55 45 125.28 405 466

Tax expenses relating to prior year paid / written hack — 39s

Deferred tax (credit) / charge (including MAT credit entitlement) . 154

Total tax expense 55 45 125.28 405 1,028

Profit for the year 96 711 278 1,563 887

Other comprehensive income net or taxes - -

Items tint will not be reclassified subsequently to profit or loss ~ ..

Remeasurernent gains Ifloss) of defined benefit plans - — - - 174

Changes in fair value of FVOCI equity instnunents - - . 1 15

Income tax relating to items that will not be reclassified subsequ. - - - - -

Remeasllrement gains/(loss) ofdefined benefit plans . . . - (60.30)

Changes in fair value or FVOCI equity instruments - - - (0.22) (5.05)

Net other comprhensive income not to be reclassified

subsequently tn profit or loss 0.41 123.48

Items that will be reclassified subsequently to profit or 1055

Exchange difference in translating financial smtements of

foreign operations . . . . .

Income tax relating to items that will he reclassified to profit or

1055 - » . . .

Net other comprhensive income to he reclassified

subsequently to profit or loss . . . . _

Other Comprehensive income for the year, net of income tax a - - 0.41 123.43

Total comprehensive income for the year 95.80 710.59 278.05 1,562.92 1,010.24

Equity Shminno. 439.13 4-39.13 131.74 439.13 131.74

Earnings per share:

Basic and diluted esrnings per share (Rs.)

[Nominal value ofper equity share is Rs. 5] 0.22 1.62 2.11 3.56 7.66

The lbnve rinnneiei Results were reviewed by the Audit Committee and approved by the Borrd of

Directors .t their meeting held on 29 May, 20111.

The Company has only one segment orretivity nnmely Textile.

Figures for the previous periods lyeor have been regroupsd, recast. snd rearranged, wherever necessary.

There were no Investor Complaints received / pending during the halfyear ended on 31.03.2013

The figure ul'qualer ended March 31, 2010 end Mnreh 51, 2017 ore the balancing figures between audited figures in respect oitbe full financial year up to March 31, 2013

Place : Ahmedabad

Dnte . 29— May, 2018 Brijmohan D. ChiripalManaging Director

DIN: 00290426

Vishal Fabrics Limited

(CIN: L17110GJ1985PLC008206)

Corporate Office: Plant & Regls ered office :

Chiripal House. Near Shivranjani Ranipur, Nara] Road.Ahmedabad-382405. Gujarat, India.

Cross Roads. Satellite. Ahmedabad-380015, GujaratJndia. Ph 2 079-25353977/78/79/80 Fax I 079-2523535131

Ph :079-26734660/2/3 Fax : 079-26768656 Email : Chiripal@chiripalgrcuplcomEmail : comorate@chiripaigroup.com Web :www.vishalfabricsltd.cam

Web a www.chiripalgroup.com

VISHAL FABRICS LIMITED

Balance sheet as at 31 March 2018

(All amounts are in Indian Rupees, except share data and as stated)

As at As at

ASSETS 31 March 2018 31 March 2017

Non-cu rrent assets

Property, plant and equipment 27,067 12,842

Captial work-in-pregress 1,886 3,559

Intangible assets - 1

Financial Assets - -

Investments 257 5 1

Trade receivables - 127

Other financial assets 514 49

Deferred tax assets (net) 404 441

Other non-current assets 2,483 4,044

Total non-current assets 32,610 21,114

Current assets

Inventories 7,644 4,073

Financial Assets - -

Trade receivables 26,342 1 1,226

Cash and cash equivalents 572 2,987

Other current assets 9,455 5,432

Total current assets 44,013 23,718

Total assets 76,623 44,832

EQUITY AND LIABILITIES

Equity

Equity Share Capital 2,196 1,317

Other Equity 17,666 17,007

Total Equity 19,861 18,324

Liabilities

Non-current liabilities

Financial Liabilities

Borrowings 17,270 9,907

Other financial liabilities 324 469

Provisions 307 257

Deferred Tax liabilities 324 324

Total non-current liabilities 18,224 10,957

Current liabilities

Financial Liabilities

Borrowings 12,808 3,672

Trade Payables 22,214 10,838

Other financial liabilities 2,585 322

Provisions 670 595

Other current liabilities 259 124

Total current liabilities 38,537 15,551

Total Liabilities 56,761 26,508

Total Equity And Liabilities 76,623 44,832

Place : Ahmedabad

Date : -29- May, 2018

Vishal Fabrics Limited

(cm: L1711OGJ1985PL6008206)

Corporate Office:

Chiripal House. Near ShivranjaniCross Roads. Satellite, Ahmedabad-330015, GujaratJndia,Ph 1 07926734660IW3 Fax : 079-26768658

Email : carporate@diiiipalgroup.oomWeb : wwehiripalgmupeom

For and on behalf of Board of Directors

Brijmohan D. Chiripal //Managing Director

DIN: 00290426

Plant & Registered office 2

Ranipur. Narol Road, Ahmedabad-332405, Gujarat. India.

Ph : 079-25353977/73/79/80 Fax : 07945353981

Email : chiripal@chiripalgroup.eomWeb : www.vishalfabriesltd,com

VISHAL FABRICS LIMITED

Reconciliation of Profit 8 loss aspfiviouslv reported under iGAAP and IND AS

Quarter ended Year ended

Particuler 31 March 2018 31 March 2017

Rs. (in Lakhs) Rs. (in Lakhs)

Profit after tax as per previous GAAP 105 1.053.80

Reclassification of share issue expenses and netted with Securities premium 17.02

Loan processing fees amortised on EIR basis (10) 21967

Remeasurement of gratuity recognised in other comprehensive income — (174.23)Deferred tax on transitional adjustments - -

Profit after tax as per lndAS 95.80 1,116.26Other comprehensive income (get of tax) 0 123.48

Total Comprehensive income under lndAS 95.80 1,239.74

For. “SEAL FEERIGS LlMiT-

W master:

Vishal Fabrics Limited

(ClN: L171106J1985PLC008206)

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022:7;235fjfiear S” r‘ .

Plant 5 Registered office :

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IV anjanl Rani ur, Narol Road. A -

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Cross Roads, Satelilte, Ahmedabad-380015, Gujaratlndia,p

Ph : o7s-253532?%asl;;glasg$135 (Egggtsslgg;2h

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9?9-2673466021§_Fax: 079-26768656Email: chiripal@chiripalgroup.commall . corporate@chirlpalgroup.oom Web

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wwwvishalfabri ltdWeb : www.chiripalgroup.com

I - cs com

May 29, 2018

To,

The Compliance Department,

BSE Limited,

P. J. Towers,

Dalal Street, Fort,

Mumbai - 400 001.

Dear Sir/Ma'am,

Subject: Declaration of Audit report with unmodified opinion.

Ref.: Vishal Fabrics Limited, Scrip Code: 538598, Security ID: VISHAL

In terms of SEBI Circular CIR/CFD/CMD/56/2016 dated May 27, 2016 and Regulation 33(3) (d) of the SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015 (as amended), We hereby Declare that M/s Abhishek Kumar & Associates, Chartered Accountant (FRN.: 130052W), Statutory · Auditor have issued Audit Report with unmodified opinion on the Standalone Financial Statement for the year ended on March 31,2018.

We request you to take note of the above.

Corporate Office:

Chiripal House, Near Shivranjani

Vishal Fabrics Limited

(CIN: L 17110GJ1985PLC008206)

Cross Roads, Satellite, Ahmedabad-380015, Gujarat.India. Ph : 079-26734660/2/3 Fax : 079-26768656 Email : corporate@chiripalgroup.com Web : www.chiripalgroup.com

Plant & Registered office

Ranipur, Narol Road, Ahmedabad-382405, Gujarat, India. Ph : 079-25353977/78/79/80 Fax: 079-25353981

Email : chiripal@chiripalgroup.com Web : www.vishalfabricsltd.com

of» .

ABHlSHEK KUMAR&ASSOCIATES\\

CHARTERED ACCOUNTANT

Auditor’s Report On Quarterly Standalone Financial Results and Year to Date Results of the

Company Pursuant to the Regulation 33 of the SEBI (Ustlng Obligations and Disclosure

Requirements) Regulations, 2015

To Board of Directors of

VlSHAI. FABRICS lJMlTED

We have audited the quarterly standalone financial results of Vishal Fabrics Limited for the quarterended on March 31, 2018 and the standalone year to date financial results for the period from Aprii1, 2017 to March 31, 2018 attached herewith, being submitted by the company pursuant to the

requirement of Regulation 33 of the SEE! (Listing Obligations and Disclosure Requirements)Regulations, 2015. These quarterly standalone financial results as well as the year to date standalone

financial results have been prepared on the basis of the interim standalone financial statements.which are the responsibility of the company's management. Our responsibility is to express an

opinion on these standalone financial results based on our audit ofsuch interim standalone financial

statements, which have been prepared in accordance with the recognition and measurement

principles laid down in the Companies (lndian Accounting Standards) Rules, 20.7.5 as per Section 133

of the Companies Act, 2013 read with relevant rules issued under the other accounting principles

generally accepted in lndia and in compliance with Regulation 33 of the Listing Regulations.

We conducted our audit in accordance with the auditing standards generally accepted in India.

Those standards require that we plan and perform the audit to obtain reasonable assurance about

whether the financial results are free of material misstatement(s). An audit includes examining, on a

test basis, evidence supporting the amounts disclosed as standalone financial results. An audit also

includes assessing the accounting principles used and significant. estimates made by management.

We believe that ouraudit provides a reasonable basis for our opinion.

In our opinion and to the best of our information and according to the explanationsgiven to us these

quarterly standalone financial results as well as the year to date standalone results:

are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing(0

Obligations and Disclosure Requirements) Regulations, 2015 in this regard; and

give a true and fair view of the net profit and other financial information for the quarter(ii)ended March 31, 2018 as well as the standalone year to date results for the period from

April 1, 2017 to March 31, 2018.

Yours faithfully,

For, Abhishek Kumar& Associates

Chartered Accountants

Firm Registration No. 130052w

(CA. Abhishek Agrawal]

ProprietorM. No. 132305

Ahmedabad

29.05.2018

401, Silicon Tower. Nr. Samarlheshwar Mahadev Temple, Law Garden, Navrangpura. Ahmedabadéiaoooa

Tel. : 079 — 26448824, 40370886 + Mob. : 9227404054 0 e-mail : abhlsheksagrawal@yahoo.oo.ln

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