SPEL SPEL Semiconductor Limited an IC Assombly & Test Company , Feb 9, 2017 To, ‘The Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400 001. ‘Sub: Unaudited Financial Results of the Company for the quarter ended Dec 31, 2016 Dear Sirs, Further to our letter dated Jan 27, 2017, we wish to inform you that at the Meeting of the Board of Directors of the Company held on Feb 9, 2017 the Board approved and taken on record the Unaudited Financial Results of the Company for the quarter ended Dec 31, 2016. A copy of the aforesaid financial results is enclosed for your kind reference. Also, a copy of the publication of the said financial results will be sent to you immediately after the results are published in the newspapers. Kindly acknowledge receipt. Thanking you Yours faithfully for SPEL Semiconductor Limited d.). A, S.$. Arunachalam Company Secretary & Compliance Officer Encl: as above Registered Office & Factory CON: L32201TNABe4PLCO1 1434 US Sales Office ‘5 CMDA Industral Estate 4030 Moorpark Ave #236 {Mit Nagar (Chenna) 603 209, India pe San Jose, CA 95117, USA Ph: 91 cad) 4740 5300 or Pn": 1(408) 512-1005, Fax: Ot (64) 4740 £903 / 5408 ‘weosite: wuw-spel.comcttw eo tn of Se, ences pst Wc ere Reg ae woe Poe Chena Q Fern rs given ete leat: reso com Vier Bret & CEOMS Keishnaswami G Rajan (68, Anand Apartment, JP Avenue, 6th Street, ee Dr. Rasa Krishnan Roa, "Mylapore, Chennai - 600 004 Tol: +91-44.4206 6628, 491-44-2847 4562 mal: mali@mskancrcom ~ INDEPENDENT AUDITORS’ REVIEW REPORT ON REVIEW OF INTERIM FIRRNCERE SO” RESULTS TO THE BOARD OF DIRECTORS OF SPEL SEMICONDUCTOR LIMITED 1, We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of SPEL SEMICONDUCTOR LIMITED (“the Company”) for the quarter and nine months ended December 31, 2016 (“the Statement”), being submitted by the Company pursuant to the requirement 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 5, 2016. ‘This Statement is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Accounting Standard 25 “Interim Financial Reporting” (“AS 25”), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility isto issue a report on the Statement based on our review. 2. We conducted our review of the Statement in accordance withthe Standard on Review Engagements (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 we plan and perform the review to obtain moderate assurance as to whether the Statement is fee of material misstatement. A review 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. 3. Basis for Qualified opinion Our review has revealed non-moving / possiblity of obsolescence in respect of certain items of box stock (inventory) aggregating Rs.2,039.13 lakhs which has not been provided for in the statement attached. Management has informed us that the Company is in discussion with its customers regarding clearing the above box stock produced primarily from raw materials supplied by the said customers and as such the final value to be provided inthe financial results / accounts can be ascertained only after completing discussions with customers i.e, the amount to be provided for cannot be ascertained as of December 31, 2016, Consequently, the impact on net loss and earning per share forthe period of nine months ended December 31, 2016 due to non-provision of non-moving / obsolescence inthe said stock cannot be ascertained. 4. Qualified Conclusion Based on our review conducted as stated above, except for the effect ofthe matter as described in paragraph 3, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India, 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 5, 2016, including the manner in which itis to be disclosed, or that it contains any material misstatement. For MS. Krishnaswami & Rajan Chart MS. Murali Partner f Membership No. 26453, Qe February 09,2016 g Chennai ae .