324, Start Tower, s 25, N, Road, Indre-452 003 L.K. Maheshwari & Co. Ph. (0731) 2496061, 4207515 CHARTERED ACCOUNTANTS email: abhay singi@grall.com website wiv mando com Review Report Tothe Board of Directors FLEXITUBE INTERNATIONAL LIMITED We have reviewed the accompanying statement of unaudited financial results of FLEXITUFF INTERNATIONAL LIMITED for the quarter ended 30" June 2015 except for the disclosures regarding “Public Shareholding’ and ‘Promoter and Promoter Group Sharcholding” which have been traced fom disclosures made by the management and have not been audited by us. This statement is the responsibility ‘of the Company's Management and has been approved by the Board of Directors/ Committee of Board of Directors. Our responsibility is to issue a report on these financial statements based on our review. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2400, engagements to Review Financial Statements issued by the Institute of Chartered Accountants of India. ‘This standard requires that we plan and perform the review to obtain moderate assurance as to whether the finaneial statements are free of material misstatement. A review is limited primarily to inquiries of ‘company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. 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 prepared in accordance with applicable accounting standards and other recognised accounting practices and policies has not disclosed the jnformation required to be disclosed in terms of Clause 41 of the Listing Agreement including the manner in whieh itis to be disclosed, or that it contains any material misstatement For L.K.Maheshwari_& Company Place : Indore Date : 07.08.2015 HO.At Branches At E-7/574, Arera Colony, J-2/80A, Ground Floor, DDA Flats, * aenea MT ohesouns Prise Opp. 1100 Quarters, Bhopal-462016 Kalkaji, New Delhi - 110 019 _ , - Opp. 100 uate cass aj. New Dai“ 10018 py orrsnaaren an: OTE2 20084 Fax : 0755-2421464FLEXITUFF INTERNATIONAL LIMITED. Regd. Off: 204 Dlamend Presige, 4A, AJC, Bove Road, Kokats7ODGH7 WB) | IEE : baa) ees [mart] emia “eae | mentee ais rs Soar tata | eet a ae — See eae sare anes — mae eg eat ae sea) — aaa a ee (eS ee ae an ee spe) — ee ee Ese a ee Banana oT —— a —“aat ——a SS are eee = Be a es Re me a a — ae a a = bee Re a ——— siya a pier maa eee [At eee a eae ——— ee 4 a nS ———— bats — Pest : oe a aa ent rere a ———— a i = ao) page ———— a a aT a Saeed Sree 1 Tenuate ren Ratt war vend uh Cnt nd pve ea sie nna eon 0.8216. The Stay Astra Samana cata ot ns ese rt enna ae apr yee teed ek ects: ‘Tike ee Lunges Sonpny. 2 Thecanatne Stearn rere 30 na 08 1420s Crt et Pet 37487 a “The Sonny eprint pny urea sgh Tene Tate § Stents Fecha goo esto ae peer {1 Tucexenes rte qutrenlee208 Jae 2 aay an wel MATa MAT rh, 7 Figures have en rupee ware ee ees tcp whe cre orp eaten Pace: nampa . Bate ore 48324, Stait Tower, . 20, .N, Road, Indore-452 003 L.K. Maheshwari & Co. Ph. : (0731) 2436051, 4207615 CHARTERED ACCOUNTANTS email: abhay singi@gmall com website: wow nsnaoo.com Review Report Tothe Board of Directors FLEXITURF INTERNATIONAL LIMITED 1) We have reviewed the accompanying statement of unaudited consolidated financial results of FLEXITUFF INTERNATIONAL LIMITED for the quarter ended 30" June 2015 except for the disclosures regarding “Public Shareholding’ and “Promoter and Promoter Group Shareholding’ which have been traced from disclosures made by the management and have not been audited by us. This statement is the responsibility of the Company’s Management and has been approved by the Board of Directors/ Committee of Board of Directors. Our responsibility is to issue a report on these financial statements based on our review. 2) We conducted our review in accordance with the Standard on Review Engagement (SRE) 2400, ‘engagements to Review Financial Statements issued by the Institute of Chartered Accountants of India, ‘This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inguities of ‘company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit, We have not performed an audit and accordingly, we do not express an audit opinion. 3) We did not review the financial results of subsidiaries, interest in which have been incorporated in the statement. These subsidiaries account for 12% of aggregate of total income from operations (net), for the ‘quarter ended 30" June 2015, as shown in the statement. Of the above 1a) The unaudited financial results of one of the subsidiary’s has been subjected to review by other auditors, and therefore, the un audited financial results for the quarter ended 30" June 2015 of this centity has been furnished to us by the management . This subsidiary accounts for 1% of the aggregate of total income from operations (net), for the quarter ended on that date, as shown in the statement , and therefore , is not material to the statement. This has been done on the basis of the financial results prepared by the company which covers accounting and disclosure requirements applicable to the statement under the generally accepted accounting principles in India. ‘The financials results made for this purpose have been reviewed by the other auditors and reports of those auditors have been furnished to us. Our opinion on the statement, insofar as it relates to this entity, is based on the aforesaid review reports of those ather auditors. HO.At Branches At E-71574, Arera Colony, 421808, Ground Floor, DDA Flats, pee CT rope eae saa Ne oetpogee Ph. 07752-22878 Fax: 07752220141 Fax : 0755-2421464L.K. Maheshwari & Co. Covmnuarion Seer CHaARTEREDACCOUNTANTS 'b). The unaudited financial results of some of the subsidiaries incorporated outside India as drawn up in accordance with the generally accepted accounting principles of the respective countries (‘local GAAP’) have not been reviewed by other auditors in those countries. These subsidiaries account for 11% of total income from operations (net) for the quarter ended on that date, as shown in the statement. The aforesaid local GAAP financial results have been restated by the management of the said entities so that they conform to the generally accepted accounting principles in India. This has been done on the basis of reporting package prepared by the company which covers accounting, and disclosures requirement applicable to the statement under the generally accepted accounting principles in India, therefore are not material to the statement, either individually or in the aggregate. 4) Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited consolidated financial results prepared in accordance with applicable accounting standards and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of Clause 41 of the Listing Agreement including the ‘manner in which itis to be disclosed, or that it contains any material misstatement, For L.K.Maheshwari & Company Place : Indore Date : 07.08.2015ep ie: 24, Dad Pein A ALE. Bove ow oa 720017 WD) son Openers ee ence, Fase Cost an Seen rea Yo oT oa HoT feiss seang Res Re Hp DAT Ta PS RS (hate pce