Outcome of Board Meeting

• Security Code: 500233
• Company: KAJARIACER

Pursuant to the provisions of the Listing Regulations, we wish to inform you that the Board of Directors of the Company at its meeting held today, commenced at 12.45 p.m. and concluded at 2.10 p.m., has, inter-alia, considered the following: 1. Approval of the Audited Financial Results (Standalone and Consolidated) of the Company as per Ind-AS for the quarter and year ended March 31, 2017 together with Auditors' Reports of the Statutory Auditors. The copies of the same are enclosed herewith. Pursuant to the provisions of the Listing Regulations read with Clause 4.1 the SEBI's Circular No. CIR/CFD/CMD/56/2016 dated May 27, 2016, we hereby declare that the Statutory Auditors - M/s O.P. Bagla & Co, Chartered Accountants has issued the Audit Reports on the Audited Financial Results (Standalone and Consolidated) of the Company for the quarter and year ended March 31, 2017 with unmodified opinion. 2. Recommendation of a dividend of Rs. 3/- per equity share of face value of Re. 1/- each for the financial year ended March 31, 2017. The said dividend, if approved by the shareholders at the ensuing Annual General Meeting of the Company, will be paid / dispatched within 30 days of its declaration. 3. Acquisition of 1,90,000 equity shares of Rs. 100/- each of Floera Ceramics Private Limited, a subsidiary company, at a consideration aggregating to Rs. 3.61 crore, subject to applicable laws. Details pursuant to Regulation 30 of the Listing Regulations are given in Annexure-A. 4. Expansion of existing manufacturing capacity at Gailpur, Rajasthan plant by 3.50 msm per annum making total ceramic tile capacity to 22.40 msm per annum from 18.90 msm per annum, which is expected to be completed by September, 2017. 5. Recommendation for adoption of new set of Articles of Association ('AoA') of the Company to make align the existing AoA with the provisions of the Companies Act, 2013 and the Listing Regulations, which is subject to approval of the shareholders at the ensuing Annual General Meeting of the Company. 6. The present Statutory Auditors - M/s O.P. Bagla & Co., Chartered Accountants are retiring at the ensuing Annual General Meeting and they have completed their tenure as stipulated under the Companies Act, 2013 including the rules made thereunder. In their place, the Board has recommended appointment of M/s Walker Chandiok & Co LLP as the Statutory Auditors of the Company, who shall hold office of the Statutory Auditors from the conclusion of the Annual General Meeting for the year ended March 31, 2017 until the conclusion of the Annual General Meeting for the year ending March 31, 2022. The said appointment is subject to the approval of the shareholders at the ensuing Annual General Meeting.