Avenue Supermarts Limited Plot No. B-72 & B-72A, Wagle Industrial Estate, Thane (West), Maharashtra, India - 400 604 Tel: 91 22 33400500 Fax: 91.22 35400599 _+ _e-mall:nfoudmantincia.com + Website: wwww-cmartndla.com Date: 6" May, 2017 To, BSE Limited ‘The National Stock Exchange of India Ltd. Corporate Services Department Corporate Communications Department Phiroze Jeejeebhoy Towers “Exchange Plaza”, 5th Floor, Dalal Street, Bandra - Kurla Complex, Bandra (East), ‘Mumbai - 400 001 ‘Mumbai ~ 400 051 BSE Scrip Code: 540376 NSE Scrip Symbol: DMART Sub: Proceedings of the Board Meeting held on 6 May, 2017 Dear Sir (Madam, With reference to the captioned subject, we hereby inform you that the Board of Directors inter alia other matters, has approved: 1 ‘The said meeting commenced at 12.30 P.M. and concluded at 4.00 P.M. ‘The Standalone Audited Financial Statements for the quarter ended 31 March, 2017and Standalone & Consolidated Audited Financial Statements for year ended 31% March, 2017. Copy of Standalone Audited Financial Statements for the quarter ended 31 March, 2017 and Standalone & Consolidated Audited Financial Statements for year ended 31% March, 2017 along with the Auditors’ report issued by Dalal & Shah LLP, Chartered Accountants, Statutory Auditors of the Company in accordance with the Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 is attached herewith. Amendment in Code of Conduct for prevention of Insider Trading by altering existing clause 1.9 under Definitions heading and clause 8.4 under Reporting requirements for transactions in securities. Adoption of Dividend Distribution Policy of the Company. Constitution of Risk Management Committee under Regulation 21 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) regulations, 2015. Maintaining of books of accounts and other relevant books, papers and records thereon at the Corporate Office of the Company. ‘in: Ust900NH000PLC126473| REGISTERED ADORESS: Arjaneya, Opp. Hranandani Foundation School, Pon, Mumba, Marah, na 40076Avenue Supermarts Limited Plot No. 6-72 & 8-72A, Wagle Industrial Estate, Thane (West), Maharashtra, India - 400 604 Tol: 91 22:33400500_+ Fax: 91.22 32400559 + e-mal: fo@dmartindla com + Website: vw marina com Kindly take the same on your record and acknowledge. ‘Thanking you. Yours faithfully, For Avenue Supermarts Limited Asan. Gupte Ashu Gupta ‘Company Secretary Endl: As above ‘rv: UstaooM2000PLc126473 REGISTERED ADORESS: Arjanoya, Opp. Hiranandani Funditon Schl, Powa Mumba, Maharshi, India 00076Dalal & Shah LLP Chartered Accountants To ‘The Board of Directors ‘M/s Avenue Supermarts Limited, Anjaneya CHS Limited, Orchard Avenue, Opp Hiranandani Foundation School Powai, Mumbai - 400076 Independent Auditor's Report on the Statement of Standalone Financial Results 1, We have audited the accompanying Statement containing the standalone financial results of Avenue Supermarts Limited (the “Company”) for the year ended March 31, 2017 together with the notes thereon (hereinafter referred to as the * Statement"), which has been prepared by the Company's management for the express purpose of filing with the BSE Limited and the National Stock Exchange of India Limited, Management's Responsibility 2, The Company’s Management is responsible for preparation of the Statement and also the annual statutory finaneial statements in accordance with the Indian Accounting Standards (Ind AS) preseribed in the Companies (Indian Accounting Standards) Rules, 2015 (as amended) notified under Section 133 of the Companies Act, 2013 (the “Act”) and other accounting principles generally accepted in India (together referred to as the “accounting principles generally accepted in India”), basis which the Statement has been prepared. The responsibility includes the design, implementation and maintenance of internal control relevant to the preparation of the Statement that is free from material misstatement, whether due to fraud Auditors’ Responsibility 3. Our responsibility is to express an opinion on the Statement based on our audit. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements, 4, An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the Statement. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the Statement, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the entity's preparation and fair presentation of the Statement in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by Management, as well as evaluating the overall presentation of the Statement. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion, Opinion 6. Inour opinion, and to the best of our information and according to the explanations given to us : G) the Statement, together with the notes thereon are presented in the format preseribed under Regulation 93 of the Securities and Exchange Board of India ( Listing Obligations and Disclosure Requirements) Regulations, 2015; and Gi) the annual audited standalone financial results for the year ended March 31, 2017 as set out in the Statements give a true and fair view of the net profit and other financial information for the year ended ‘March 31, 2017 in accordance with the accounting principles generally accepted in India. Dalal & Shah LLP, 252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai - 1: +91 (22) 66691500, F: +91 (22) 66547804 / 07 ‘og ce a Me e252 et Saar My, Shi Pa cee, Maa 28 Post someon obs Shah Le ca epeeson ramets WAbuiE AI mperabon unborn conerch ae SaDalal & Shah LLP Chartered Accountants Board of Directors ‘M/s Avenue Supermarts Limited. Independent Auditor's Report on the Statement of Standalone Financial Results Page 2 of 2 Other Matter 7. Wedraw your attention to the following matters: a Note 2 to the Statement which states that the Company has adopted Ind AS for the financial year commencing from April 1, 2015, and accordingly, the Statement has been prepared by the ‘Company's Management in compliance with Ind AS. ‘The financial information of the Company for the year ended March 31, 2016 included in the Statement, is based on the previously issued statutory financial statements for the year ended ‘March 31, 2016 prepared in accordance with the Companies (Accounting Standards) Rules, 2006 which were audited by us, on which we expressed an unmodified opinion dated August 1, 2016. ‘The adjustments to those financial statements for the differences in accounting principles adopted by the Company on transition to the Ind AS have been audited by us, on which we have expressed an unmodified opinion vide our report dated May 6, 2017. ‘The Statement dealt with by this report has been prepared for the express purpose of filing with the BSE Limited and the National Stock Exchange of India Limited. This Statement is based on and should be read with the audited financial statements of the Company for the year ended March 31, 2017 on which we issued an unmodified audit opinion vide our report dated May 6, 2017 Our opinion is not qualified in respect of these matters. Restriction on Use 8. The report is addressed to the Board of Directors of the Company and has been prepared for and only for the purposes set out in paragraph 7(c) above. This report should not be otherwise used by any other party for any other purpose, Mumbai May 6, 2017 For Dalal & Shah LLP Chartered Accountants Firm Registration Number: 102021W/W100110 Venkatesh Partner Membership Number: 037942Dalal & Shah LLP Chartered Accountants To ‘The Board of Directors M/s Avenue Supermarts Limited, Anjaneya CHS Limited, Orchard Avenue, Opp Hiranandani Foundation School Powai, ‘Mumbai - 400076 Independent Auditor's Report on the Statement of Consolidated Financial Results 1. We have audited the accompanying Statement containing the consolidated financial results of Avenue Supermarts Limited (the “Company’, its subsidiaries and an associate company (hereinafter referred to as “Group") for the year ended March 31, 2017 together with the notes thereon (hereinafter referred to as the “ Statement”), which has been prepared by the Company's management for the express purpose of filing withthe BSE Limited and the National Stock Exchange of India Limited Management’s Responsibility 2, The Company's Management is responsible for preparation of the Statement and also the annual statutory financial statements in accordance with the Indian Accounting Standards (Ind AS) prescribed in the Companies (Indian Accounting Standards) Rules, 2075 (as amended) notified under Section 133 of the Companies Act, 2013 (the “Act”) and other accounting principles generally accepted in India (together referred to as the “aecounting principles generally accepted in India’), basis which the Statement has been prepared. The responsibility includes the design, implementation and maintenance of internal control relevant to the preparation of the Statement that is free from material misstatement, whether due to fraud orerror. Auditors’ Responsibility 3: Our responsibility is to express an opinion on the Statement based on our audit. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. 4. An audit involves performing procedures to obtain andit evidence about the amounts and disclosures in the Statement. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the Statement, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the entitys preparation and fair Presentation of the Statement in order to design audit. procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies ised and the feasonableness of accounting estimates made by Management, as well as evaluating the overall presentation ofthe Statement, 5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion, Opinion 6. In our opinion, and to the best of our information and according to the explanations given to us : @ the Statement, together with the notes thereon are presented in the format prescribed under Regulation 3g of the Securities and Exchange Board of India ( Listing Obligations and Disclosure Requirements) Regulations, 2015; and (Gi) the annual audited Consolidated financial results for the year ended March 31, 2017 as set out in the ‘Statements give a true and fair view of the net profit and other financial information for the year ended. ‘March 31, 2017 in accordance with the accounting principles generally accepted in India, Dalal & Shah LLP, 252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai - 41 ie Sah T: +491 (22) 66691500, F: +91 (22) 6547804 / 07 » = RE Aces ogre cs an Hen tc: 252 oe Saat Mag, Sh Pa ase (Met, Mans AED ( cho-te SSN char ‘Fete comarenis bas Soh aton epee be ess ANS Gem ton onde toc mee aNDalal & Shah LLP Chartered Accountants Board of Directors ‘M/s Avenue Supermarts Limited Independent Auditor’s Report on the Statement of Consolidated Financial Results Page 2 of 2 Other Matter 7. Wedraw your attention to the following matters: a. Note 2 to the Statement which states that the Company has adopted Ind AS for the financial year commencing from April 1, 2015, and accordingly, the Statement has been prepared by the Company's ‘Management in compliance with Ind AS. 1b. The financial information of the Group for the year ended March 91, 2016 included in the Statement, is based on the previously issued statutory financial statements for the year onded March 31, 2016 prepared in accordance with the Companies (Accounting Standards) Rules, 2006 which were audited by us, on which we expressed an unmodified opinion dated August 1, 2016. The adjustments to those financial statements for the differences in accounting principles adopted by the Company on transition to the Ind AS have been audited by us, on which we have expressed an unmodified opinion vide our report dated May 6, 2017, The Statement dealt with by this report has been prepared for the express purpose of filing with the BSE Limited and the National Stock Exchange of India Limited. This Statement is based on and should be read with the audited financial statements of the Company for the year ended March g1, 2017 on which we issued an unmodified audit opinion vide our report dated May 6, 2017. 4. We did not audit the financial statements of ({) two subsidiaries considered in preparation of the Statement, which constitute total revenue of Rs.1,567 lakhs and net profit of Rs.328 lakhs for the year ended March 31, 2017 and total assets of Rs. 1269 lacs as at March 33, 2017; and (li) one associate company which constitute net loss of Rs.1292 lakhs for the year then ended. These financial statements and other financial information have been audited by other auditors whose reports have been furnished to us, and our conclusion on the Statement to the extent they have been derived from such financial statements is based solely on the report of such other auditors. ur opinion is not qualified in respect of these matters, Restriction on Use 8. ‘The report is addressed to the Board of Directors of the Company and has been prepared for and only for the purposes set out in paragraph 7(¢) above. This report should not be otherwise used by any other party for any other purpose. For Dalal & Shah LLP Chartered Accountants Firm Registration Number: 102021W/W100110 qlee ‘Venkatesh Mumbai Partner May 6, 2017 ‘Membership Number: 037042~D. Mart’ Avenue Supermarts Limited ‘on usiorauzcopcr2ea73 Read. Office : Anjaneya CHS lnted, Orchard Averue, Opp. Hiranandani Foundation Scho, Powai, Mum 400 076 AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31 MARCH, 2047 (Lats. uessoterise sine = Saran ‘Consolidated an Ha, Guartorendes | Guartronded | uartorended | Yearonded | Yearenea | Yoarendoa | Yearended a a 31002047 saaae16 31032016 31022047 31092016 piosa0t7 bn0a2016 (Rafe Note 3]_| —[Unauaited] | ~ (Rotor Note 3p (ute (uatea) “aed sea |=) Revenue Hom operations s110sa 9] 3.980 zaia7ize] —4aa,t11.0 esrsi7sd] 189,760.50) 853,375 > Ofer income 085.3] 230.9) 00.09 3128.34 2006.02 2085: 128573 Hota income Sia | are5) Baier 2] a4 2407] Wee s2206/ 782.5054] aa0.169 | 2 [Expenses 13) Purchases of sockn rage arratesi| arrasas9| seoser25) 039.05] rasarrza] 105,725 743,561.67] 1) Changes in invertonies of hock mae o2ee77 8.487 2] ous 37] (@7.20554] (1302839 terazvs0] (13207 09] ©) Empayee berets expense sar82q 5038.4] sas] 18047 29 ‘021.4 18251.15 4903.9 a) Fnsree coe sore 1 3103.74] 2ezaoy sz18035] 9123.9 w2iar aq 9.15359] ©) Depreiaton and amorisaion expanse 3536.2 313074] 2rre2] 123800, 700.64 2781.99 pores Omer expanses 17.8016 ease. waaay 920024 4504053] 0.29055] ani Total expenses ETT Tare or a soar aa] TES Bro aT 3 [prot before share of net oss of associate s54784 2490.14 1,101.29 ra7u127| soeas.n] 7e000.47 4earaso} 4 [Share ornet wa ausocate {| ‘| { (29208) wan} 5 [Pott tore tax isnaray asaaa 10,181.25] ara aes) 7470842) 4937125] 8 Taxercenses (ring corentuerered tx) 5.48104 B2s024 3008 3] 25a? aa} sree 2eezect s7az oa] 7 | ot Proft for the pero 366-51 35.67.90 555.5] 40.263 ETRE a7879.84 32302425] 8 [omer Comprehensive Incae (ne of axes) Teal 2701 Teal zi och Es 2327] 8 Total comprehensive Income forthe period a7 Ter, Ser 32.09) zi BA 3052.89 10 [Protttor te period 5656.9) 5,187.0) 6.5505 78,263.85) SH 781-19] “area 3202825) latrbutable wo Jeauty holders ho parent 688.9 15,167.99 0.55506] 40,263.05] suai. arers.s| 201073] Noncontotnginiesis 4 "| " "| 458 4 11 [Total comprehensive income forthe perod 744.04 ss;07.0] 6583.7] czas] 31,810.06) 47961.39] s20s2sy lain to Eauty holo of te parent, oraasa] 18,67 a0] 950374 4854209) 3818.06] «795875] 32,040.09 [Non controling res : : # “453 pr 12 Jeatssp equty share Cental wae Isa Bisa aaa) wea Sata Tee (Face Vat «tt per sere) 13. [Reserves (exelzing evaluation resenc) 321.2678] 8509221 sar7700n7| 500,74 as pe: Balance Sheet of previous accounting year 16 Earnings per share (oF 10"- eacn) (not annua) laysateme 1.09 ard 1] as see sad 5 by Oise ne 1. 270 1H as 56s] ass sn real Zieh ‘Shak DDS BAF S35D: Mart Avenue Supermarts Limited CIN US1900MH2000PLC126473 Regd. Office: Anjaneya CHS limited, Orchard Avenue, Opp. Hiranandani Foundation School, Pows ‘AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31 March 2017 Mumibai 400 076 (Laks, untoss othorwise stato) ‘Siandatone: Consolidated Year ended Year ended Yearended | Yearended pene eae, 31.03.2017, 31,03.2016 31.032017_| _31.03.201 Audited) ‘uaited) ‘Audited | — (Aualted) 1 [ASSETS » 'Non-current assets, a [Property plant and equipment 251,518.08 206,128.63} 254,393.67] 208,917.67 [Capital work-in-progress 18,280.38 e163.70| 16,28936] 8,168.70 ¢ [Other intangible aesets 635.08 417.88 644,07 494.08 [investment Properties 2797.18 136503] 2737.16] 1,365.08 [investments in subsidiaries and associates 3,661.74 1.598.81 2.15248] 1,382.40 £ [Financial assets others 4,535.48, 287600} 3,755.81] 2,103.93 4g |Non-current tax assets (net) 8.74 173.16 362.65 355.07 h_lotnernon-current assets 5,021.53 8.49286 | 5,055.43] 8,455.24 Total Non-Current Assets 283,404.15. 220,160.73 | 984,360.63 | 231,182.18 2) [Current assets a |inventories 93,315.99 6602005] 94,700.31] 67,168.81 b [Financial Assets bi investments : . 416.58 108.64 bil [Trade Receivables 2,099.79 37.74] 2,100.24 24163 bail |Cash and Cash equivalents 3,025.92 319736] 3,202.85] 3,419.86 biiv [Bank balance other than (il) above 185,105.42 6133] 185,135.93, e997 bw |Loans 105.13 341 108.98 97.50 bw [others 7,375.90 4oos68| 7.20740] 3,801.46 ¢__lother current assets 5,782.99 az7oo| _471025| 3,388.16 [Total Current Assets 286 811.14 78,993 57 | _267,86054| 78,973.08 TOTAL ASSETS. 380,215.29 308,183.30 | 662,251.17] 310,185.21 0 IEQUITY AND LIABILITIES 1) lEquity a Equity Share Capital 62,408.45 5615427] 62,408.45] $6,184.27 b_|otner Equity 321,267.88 95,032.21] _321,7007| _ 95,889.74 Total Equity 383,706.33 751,186.48 | 364,178.52] 152,044.01 Non controlling interest = : 1453 8.85 2) Non Current Liabilities a [Financial Lisbities a |Borrowings 98,092.44 90,846.87] 98,092.44] 90,848.87 at {Other Non current Liabilites 198.35 1,806.68 13835| 1617.18 bb. {Long term provisions : 1827 17.28 c._|Deterred tax labilties (net 5,174.50) 400930| 5050.8 | 3,088.51 [Total Non current liabilities 703,405.20) 96,661.85 10320964 | 96,467.84 3 ICurrent Liabilities a [Financial Liabilities ai [Borrowings 12,268.04 11349.11| 13,884.78) 12,986.93 ai |Trade payables 28,875.52 20,046.96} 26,086.48} 19,444.17 ait |otners 49,283.28 29952.15| 49,474.11] 25,540.97 b__|Shortterm provisions 81643 537.64 822.48 544,83 ¢ _|Liabities for current tax (net) 84177 4,082.15 1,245.52| 1,248.96 9,220.63 1936.96 | _3265.21 1.997.55, 93,103.67 0,304.97 | 64,758.56 | 61,633.47 80,215.29 308,153.30 | 682,251.17 | 310,155.2111 The above sansa resus wee reviewed by he Aux Cmmtise a approve ty he Board of Deke of te Company in he roeings ald on Gh May, 2017. The Stator Auda hve carted out stay au forthe svar ended" Maren 207? and Maren 2018, 2 Conseauen.onotfcaton tyre Cental Government othe Companes (rian Accounting Standard) Rules, 2018 (ND-AS) under Secon 139 of te Companies Ac 2013, the Company hes et tm adopted tho IND-AS ‘gang 01 Agr! 2095. Retersingy 28) The above financial resus forte quarter and year cred 31 March 2017 are prapared in accotcance wh he IND-AS 0) Te gues fer he quarter ana yar endod 51 Mach 2016 prepared undor he eae Indian GANP have bas fe-tafe in accordance wih NAS, 3 The gues of ist ure forthe cuent year and forthe previous year ae he balancing fue bone auc gues in repect ofthe ul nancial year and year to date gues upto tid quater which were suectad wo limited review by te stator actors 4 The Compary has comelie ne ina Public cferng (PO) fresh sue of 62,547 805 equ shaves of 10 each at an leu prie of € 290 per shore. The ety shares che Campary were Isod on BSE Lied (BSE) and atonal Stock Exchange of rai Listes (NSE) wet 24etMarch 2077 5 Use of PO Proceasss summarsed as below ( Latns unis cine sate) = Plannadasper | —Uifeaton ups [Basnca ae at Wart) ania Prospeene | Maren 3t.2017_|/ 91,2017 Towards paper payment of NCDS7 Tam Laas "08 00000, : 105 00005 (Censtucon ara Purchase out ore stores ‘3555000, - 3568000 [Towards General Corporate purpoe Not of experaes reiting IPO 2.50.00, soso. Preven [tts 787 000.00 3598 EEO "PO Proceeds net ot PO relates Expense which remain unused asa 21 March 2017 and vee temporary invests in posts with schecied commercial tanks (18,200 sth) nd in Excrow accounts 1440.11 ks {© Thwrecorciation of nt prot ose reported im aocordance wir Indian GAAP to ttl comprehensive ream ln accordgnce wit Ind AS i van below (€ Lots unless omens stata) “Seanatone ‘Conscliatee ‘Carresponaing 3 |correspanaing 77 Imontne ended months endea Comesponaing 12 months enced Description sts. 2086 [s1.03. 2086 31032016, NetPro (Loss) a por previous GAAP Uhdian GRAFT BETTE BT EE FRemeatsrerents of detned boot plan (at of care oH) 2730 2790 2827 Profit forthe quare/priod ended as per IND AS s60see s1701.46 s202825 (ther comprenensne neem (et feasts) 2180 2700 227 [Total Comprehensive Profit forthe quarteripeiod ended as per IND AS 6.56878 3491906 208252 7 Thee reno recncng ems between the equy, a of et March, 2016, a3 previously reared and 8 porIND-AS, © _Durg the quate the Company has insted sn Avenue Supermars Limited Employee Stock Option Scheme, 201 (the Scheme") as approve bythe Board of Directo fr iesuance stack opton to ge employee ofthe ‘Company and of ts svbsciins Puruent to he sié scheme, Sock optons corvette ni 13.973 325 equlyshareeof® 10 aac ware gard Io eile employees alan eariee pce of® 295) Song tna pice wren eek ‘sue o stares were madein PO, Out of he total opens granied 8% 800 optons were foreted anc 2.400 options were vested dng te quarer. No opbons have been exresed dst st Maren, 2047 8 The Companys busines aciviy fats wana single primary Business segment of real and oe reportable geographical segment which swihin Indl" Accordingly, the Company ia sng segment compa in accordance wih Inaan Accounting Since 103"Opeaing Sepment, For and on behalf of the Board of Directors of ‘Avenue 8 Limited “Sh & Shah TES EC PIN AR F355 Chae pients > QW rood pratfonsO”¥ Mumbai (SO Place: Thane Ignatius ey foronha| Date: _6th May, 2027 CEO & Managing DirectorAvenue Supermarts Limited Plot No, B-72 & B-72A, Wagle Industrial Estat, Thane (West), Maharashtra, India ~ 400 604 Tol: 91.22 3400500 + Fax: 9122 59400590 _* email: info@siarindia.com_* Website: wiwvcmarnd.com Date: 6" May, 2017 To, BSE Limited ‘The National Stock Exchange of India Ltd. Corporate Services Department Corporate Communications Department Phiroze Jesjeebhoy Towers “Exchange Plaza”, 5* Floor, Dalal Street, Bandra —Kurla Complex, Bandra (Fast), ‘Mumbai — 400 001 Mumbai ~ 400 051 Scrip code: 540376 Symbol: DMART Dear Sit/ Madam, Sub. Declaration with respect to unmodified opinion of the Statutory Auditors in Audited Standalone and Consolidated Financial Results for the financial year ended 31% March, 2017. Pursuant to Regulation 33(3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby declare that the Auditors Reports on Standalone and Consolidated Financial Statements for the financial year ended 31* March, 2017 issued by Dalal & Shah LLP, Chartered Accountants (Firm Registration No 102021W/ W100110), Statutory Auditors of the Company with unmodified opinion. This is for your information and records. Thanking You, For Avenue Supermarts Limited eh! Ramakant Baheti Whole Time Director & CFO ‘WN: Ust900MH000PL C2473 [REGISTERED ADORESS: Ajaneys, Op. Mranandanl Foundation Schoo, Powsi, Munbsl Mahara, Incl -400076