KSS LIMITED

Date: February 14, 2019To,The Corporate Relations Department, National Stock Exchange of India Ltd,BSE Limited, Exchange Plaza,PJ Tower, Dalal Street, Fort, Plot no. C/ 1, G Block,Mumbai-400 001. Bandra-Kurla Complex,Scrip Code: 532081. Bandra (E), Mumbai - 400 051.

Scrip Code: KSERASERA

Subject: Outcome of Board Meeting held on 14th February, 2019.

Dear Sir/Madam,

With reference to captioned subject matter, Please find herewith the outcome of theBoard Meeting held today i.e. 14th February, 2019 at the registered office of theCompany:

1. Took on record and approved the Unaudited Standalone Financial Results alongwith the limited review report for the Quarter ended 31st December, 2018 asrequired under Regulation 33 of SEBI (Listing Obligations and DisclosureRequirements) Regulations, 2015.

The meeting started 500 pm. at and concluded at 6‘ 10 p.mi

Kindly take note of the same in your record.

Thanking You,

Yours Faithfully,

For 85 on b v -

: Limited

Ank'

ra Sera Limited

Company Secretary

Encl: As above

a Copy of said financial result.

b. Copy of limited review report

KSS Limited

( Formerly Known as K Sera Sera Ltd. )

CIN : L22100MH1995PLC092438

UnItNo 101A & 102, 131 Floor, Plot No, 8-17, Morya Landmark ll, Andheri (West), Mumbai- 400 053‘ INDIA.

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CHARTERED ACCOUNTANTS

Independent Auditor’s Review Report on interim financial Results of

KSS Limited for the quarter and nine month ended 315t December, 2018

pursuant to the Regulation 33 of the SEBI [Listing Obligation and Disclosure

Requirements] Regulations, 2015

The Board of Director's

KSS Limited,

Mumbai

1. We have reviewed the unaudited financial results of KSS Limited (the

"Company") for the quarter and nine month ended December 31, 2018 which

are included in the accompanying 'Un-audited Financial Results for the

quarter and nine month ended December 31, 2018 (the "Statement"). The

Statement has been prepared by the Company pursuant to Regulation 33 of

the Securities and Exchange Board of India (Listing Obligations and Disclosure

Requirements) Regulations, 2015 (the "Listing Regulations, 2015"), which has

been initialed by us for identification purposes. The Statement is the

responsibility of the Company's management and has been approved by the

Board of Directors. Our responsibility is to issue a report on the Statement

based on our review.

2. We conducted our review in accordance with the Standard on Review

Engagement (SRE) 2410, "Review oflnterim 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 free of

material misstatement.

3. A review is limited primarily to inquiries of company personnel and an

analytical procedure 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.

4. Based on our review conducted as above, nothing has come to our attention

except those mentioned below that causes us to believe that the Statement has

not been prepared in all material respects in accordance with the applicableAccounting Standards prescribed under Section 133 of the Companies Act,2013 and other recognized accounting practices and policies, and has not

disclosed the information required to be disclosed in terms of Regulation 33

of the Listing Regulations, 2015 including the manner in which it is to be

disclosed, or that it contains any material misstatement.

Corporate Office: Mumbai Office: Surat Office: Delhi OI fice: '*ontact:

”Pipara Corporate House”, #3, 13th Floor, ’Trade Link’, D-612, International G-36, only Internet, T: +91—79-40 370 370 td 374

Near Gruh Finance, 'E’ Wing, A Block, Trade centre, Connaught Place, F: +91-79-40 370 376

Netaji Marg, Law Garden, Kamala Mills, Senapati Majura Gate, New Delhi-110001, E: pipara@pipara.comAhmedabad-380006, Bapat Marg, Lower Parel, Surat-395003, INDIA. info@pipara.comGujarat, INDIA. Mumbai-400013, Gujarat, INDIA. www,pipara,com

Maharashtra, INDIA.

5. We draw attention to,

a. Note 5 of the statement of the unaudited financial results stating demand

of Rs 1035.05 Lacs including the interest and penalty under MVAT. In

line with film industry consensus, the Company is of the opinion that

there are no grounds for levying VAT Based on legal Opinion obtained;

the company is of the view that said demand contesting. Hence, no

provision has been considered by the management in these financial

statements.

. Demand of Rs 734.06 Lacs excluding interest and penalty under section

142 of the Custom Act 1962. Custom department freeze/attached the

various assets and bank accounts against the said recovery. Based on

legal Opinion obtained, the company is of the View that said demand

contesting. Provision has been considered by the management in these

financial statements.

The financial statements of the Company for the year ended March 31,

2018 and the Unaudited financial result for the quarter and nine months

ended December 31, 2017 prepared in accordance with the Companies

(Indian Accounting Standard) Rules, 2015 (Ind AS) prescribed under

Section 133 ofthe Companies Act, 2013, were audited by another firm of

chartered accountants under the Companies Act, 2013 who Vide their

report dated May 30, 2018 and February 14, 2018, expressed an

unmodified opinion on those financial statements.

Our review report is not modified in respect ofthese matters.

For Pipara & Co LLP

FRN:107929W/W100219

WWNaman Pipara

M.No.: 140234

Partner

February 14-, 2019

Mumbai

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