Sterlite Power Grid Ventures Limited, F-1, The Mira Corporate Suites, 1 & 2,Ishwar Nagar, Mathura Road, New Delhi — 110 065, India +91 11 4996 2200

To

BSELimited1* Floor, Phiroze Jeejecbhoy Towers,

Dalal Street, Mumbai- 400 001, Maharashtra

| WSterlite Power

Date-May14, 2019

SUBJECT: SUBMISSION OF ANNUAL FINANCIAL RESULTS ALONG WITH AUDIT REPORT FORTHE FINANCIAL YEAR ENDED ON MARCH31, 2019

Dear Sir/ Madam,

In terms ofRegulation 52 of Securities and Exchange Board ofIndia (“SEBI”) (Listing Obligations and DisclosureRequirements) Regulations, 2015, (“(LODR”), we wish to submit the following documents for the financial yearended on March31, 2019.

1. Financial Results in the format prescribed by SEBI, along with the information as prescribed under Sub-regulation 4 ofRegulation 52 of LODR,duly approved bythe Board of Directors of the Companyat its meetingheld on May 14, 2019;

&WD

regulation 5 of Regulation 52 of LODR.

. Audit Report as provided by the Statutory Auditors of the Company;

. Declaration pursuant to the proviso to clause “a” of Sub-regulation 3 of Regulation 52 of LODR:

. Certificate received from the Debenture Trustee (IDBI Trusteeship Services Limited) in terms of Sub-

Request you to please take the above documents on record and do the needful.

In case of any further requirement/ assistance you are requested to please write to the undersigned.

Thanking you,

Yourssincerely,For Sterlite Power Grid Ventures Limited

wllSaurabh Mathur

CompanySecretaryMembershipNo. — F7272

Copyto:

Axis Trustee Services LimitedThe Ruby, 2nd Floor, SW29, Senapati Bapat Marg, Dadar West Mumbai — 400

028, Maharashtra, India

RegisteredOffice: 4th Floor, Godrej Millennium 9 Koregaon Road, Pune, Maharashtra 411001 INDIACTN: TI8819APN9N1 APT.C179298 | wwwcterlitenawer eam

ParticularsSix month ended

March 31, 2019

Six month ended

March 31, 2018

Year ended March

31, 2019

Year ended March

31, 2018

(Unaudited)

(Refer Note-2)

(Unaudited)

(Refer Note-2)(Audited) (Audited)

Revenue from operations 12,049.67 7,993.90 23,136.74 15,825.32

Other Income (Refer note - 13) 2,626.97 312.96 2,980.84 373.46

Total income (I) 14,676.64 8,306.86 26,117.58 16,198.78

Contract expenses 8,894.29 6,056.46 18,523.08 11,962.72

Employee benefits expense 560.70 554.06 1,111.57 893.96

Other expenses 662.50 371.54 1,331.16 1,798.69

Impairment of investment/loan (Refer note - 5 & 6) 1,136.49 - 1,365.82 -

Total expenses (II) 11,253.98 6,982.06 22,331.63 14,655.37

Earning before interest, tax, depreciation and

amortisation (EBITDA) (I) - (II) 3,422.66 1,324.80 3,785.95 1,543.41

Depreciation and amortisation expense 40.07 20.29 61.88 38.86

Finance costs 864.10 433.72 1,339.67 726.92

Finance income (657.01) (366.87) (1,194.49) (409.68)

Profit before tax 3,175.50 1,237.66 3,578.89 1,187.31

Tax expense:

Current tax 458.42 275.86 565.93 335.96

Deferred tax (77.53) 59.74 32.87 53.82

Income tax for earlier years 1.94 - 1.94 -

382.83 335.60 600.74 389.78

Profit for the period/year 2,792.67 902.06 2,978.15 797.53

Other Comprehensive Income

Other comprehensive income to be reclassified to profit or loss in subsequent periods:

Net movement in cash flow hedge (872.10) (92.12) 353.23 (92.12)

Income tax relating to above 297.62 32.23 (131.17) 32.23

Net other comprehensive income to be reclassified to profit or loss in subsequent periods (574.48) (59.89) 222.06 (59.89)

Other comprehensive income not to be reclassified to profit or loss in subsequent periods: -

Re-measurement gain on defined benefit plans (1.95) 2.99 (1.95) 2.99

Income tax relating to above 0.68 (1.04) 0.68 (1.04)

(1.27) 1.94 (1.27) 1.94

Net gain on FVTOCI equity securities 5,338.46 5,747.65 4,300.56 6,901.19

Income tax relating to above (1,365.06) (1,088.13) (1,001.86) (1,283.16)

3,973.40 4,659.52 3,298.70 5,618.03

Net other comprehensive income not to be reclassified to profit or loss in subsequent periods 3,972.13 4,661.47 3,297.43 5,619.98

Total Comprehensive Income 6,190.31 5,503.64 6,497.64 6,357.61

Paid-up Equity Share Capital (face value Rs 10 per share) 12,435.31 12,435.31 12,435.31 12,435.31

Paid-up Debt Capital [Refer Note 3(a)] 21,936.28 16,270.07 21,936.28 16,270.07

Earnings per share - Basic (Rs) 2.25 0.73 2.39 0.64

Earnings per share - Diluted (Rs) 2.25 0.73 2.39 0.58

Credit Rating [Refer note 9]IND A+ by India

Ratings

IND A+ by India

Ratings

IND A+ by India

Ratings

IND A+ by India

Ratings

Debt Equity Ratio [Refer Note 3(b)] 0.72 0.66

Debt Service Coverage Ratio [Refer Note 3(c)] 0.88 3.31

Interest Coverage Ratio [Refer Note 3(d)] 3.25 3.31

Asset Cover Ratio [Refer Note 3(e)] 7.52 20.65

Debenture redemption reserve - - - 416.81

Net Worth 30,507.33 24,796.71

Previous due date for interest and principal payment 28 March 2019 16 November 2017

Next due date for interest payment [Refer Note 7] 30 March 2020 16 November 2018

Next due date for principal repayment [Refer Note 7] 28 March 2022 15 April 2019

STERLITE POWER GRID VENTURES LIMITED

Regd. Office: 4th Floor, Godrej Millennium 9 Koregaon Road, Pune Maharashtra-411001

CIN: U33120PN2014PLC172393

FINANCIAL RESULTS FOR THE HALF YEAR & YEAR ENDED MARCH 31, 2019

(All amounts in Rs. Million unless otherwise stated)

Particulars As at 31 March

2019

As at 31 March

2018

(Audited) (Audited)

ASSETS

I. Non-current assets

(a) Property, plant & equipment 122.32 132.57

(b) Capital work-in-progress 33.78 -

(c) Intangible assets 35.78 19.71

(d) Investment in associate (refer Note 6) 8.39 5,880.36

(e) Financial assets

(i) Investments 24,579.36 26,292.00

(ii) Loans 9,375.00 8,214.29

(iii) Other non current financial assets 37.02 24.93

(f) Other non current assets 83.30 14.27

Total 34,274.95 40,578.13

II. Current assets

(a) Inventories 60.93 705.65

(b) Financial assets

(i) Investments 29.00 28.03

(ii) Loans 19,532.33 12,683.23

(iii) Trade receivables 3,010.32 6,320.00

(iv) Cash and cash equivalents 657.55 13.03

(v) Other financial assets 531.51 67.51

(c) Other current assets 3,594.52 3,568.54

(d) Non current assets classified as held for sale (refer Note 5 and 6) 20,173.59 -

Total current assets 47,589.75 23,385.99

TOTAL ASSETS 81,864.70 63,964.12

EQUITY AND LIABILITIES

Equity

Equity share capital 12,435.31 12,435.31

Other equity

(a) Securities premium 45.49 45.53

(b) Retained earnings (2,919.04) (5,645.96)

(c) Other reserves 20,945.58 17,961.84

Total Equity 30,507.34 24,796.72

I. Non-current liabilities

(a) Financial liabilities

(i) Borrowings 9,688.60 2,812.06

(ii) Other financial liabilities - 9.39

(b) Employee benefit obligations 54.26 23.44

(c) Deferred tax liabilities (net) 5,490.12 4,747.36

15,232.98 7,592.25

II. Current liabilities

(a) Financial liabilities

(i) Borrowings 11,046.65 13,149.30

(ii) Trade payables

- total outstanding dues of micro enterprises and small enterprises 54.40 -

- total outstanding dues of creditors other than micro enterprises and small enterprises 10,803.05 5,710.63

(iii) Other financial liabilities 1,523.98 824.52

(b) Other current liabilities 6,421.90 11,866.98

(c) Employee benefit obligations 11.86 23.72

(d) Current tax liability 147.42 -

(e) Liabilities associated with non current assets classified as held for sale (refer Note 5) 6,115.12 -

36,124.38 31,575.15

Total Liabilities 51,357.36 39,167.40

TOTAL EQUITY AND LIABILITIES 81,864.70 63,964.12

Regd. Office: 4th Floor, Godrej Millennium 9 Koregaon Road, Pune Maharashtra-411001

CIN: U33120PN2014PLC172393

FINANCIAL RESULTS FOR THE HALF YEAR & YEAR ENDED MARCH 31, 2019

STATEMENT OF ASSETS & LIABILITIES

(All amounts in Rs. Million unless otherwise stated)

STERLITE POWER GRID VENTURES LIMITED

NOTES:

For and on behalf of the Board of Directors

of Sterlite Power Grid Ventures Limited

Ved Mani Tiwari

Place: New Delhi Whole Time Director

Date: May 14, 2019 DIN: 06652919

12. The Board of directors in it's meeting held on May 30, 2018 approved a Scheme of amalgamation of the Company with its parent company - Sterlite Power Transmission Limited under the

Companies Act, 2013 with the appointed date of April 1, 2017. After requisite approvals, the Company has filed the Scheme with National Company Law Tribunal ('NCLT') and the same is

pending for NCLT approval.

13. Other income includes interim dividend of Rs. 2,270.20 million (March 31, 2018: Nil) received from SGL2 being a wholly owned subsidiary of the Company.

14. The Company, directly or indirectly through its subsidiaries, acts as a developer on Build, Own, Operate and Maintain (“BOOM”) basis, for designing, financing, construction and

maintenance of power transmission systems and undertakes Engineering, Procurement and Construction contracts for its subsidiaries. Hence there is no separate reportable segment as per the

requirements of Indian Accounting Standard 108 - Operating Segments.

8. The Company has issued 1,950 Non-Convertible Debentures ('NCDs') of Rs 10,00,000/- each on private placement basis redeemable by the end of 3 years from the deemed date of allotment

(i.e.. 27 March 2022). These NCDs carry interest rate of 11.50% p.a. or any other revised Coupon Rate or Step Up Coupon. All the NCDs together with interest, additional interest, liquidated

damages, premium on prepayment, cost and charges, expenses and all other monies and all other amounts stipulated and payable to the debenture holders are secured by:

(i) First pari-passu charge on projects initiated in SPVs;

(ii) Pledge of 51% shares of Sterlite Grid 4 Ltd (“SGL 4”) and Sterlite Grid 5 Ltd (“SGL 5”) on fully diluted basis at all times;

(iii) NDU along with POA for balance 49% shares of SGL 4 and SGL 5;

(iv) Pledge of 49% shares of SPVs;

Above security to be shared on pari-passu basis with all amounts within the Debt Limit. The Company is in the process of creating the security for NCDs.

9. Credit rating was obtained from India Ratings of 'IND A+' on April 11, 2019.

10.The Company had taken certain foreign exchange contracts to hedge foreign currency exposure in respect of purchase orders for conductors received from Brazilian subsidiary. Further, Sterlite

Power Transmission Limited (parent company) had hedged aluminium on LME in respect of such purchase orders. The same were incorrectly recorded as hedging done on behalf of the

subsidiary and adjusted to carrying value of investment in subsidiary as at March 31, 2018 which has now been corrected. Accordingly, the figures for March 31, 2018 have been restated and as a

result, the carrying amount of Investment in subsidiary has decreased by Rs. 493.06 million; OCI/Cash flow hedge reserve has decreased by Rs. 99.91 million, contribution from parent (shown

under Equity) has decreased by Rs. 339.36 million and deferred tax liability has decreased by Rs. 53.79 million as at March 31, 2018.

11. The Company has entered into a Framework agreement with IndiGrid for selling its entire stake in Khargone Transmission Limited, Gurgaon Palwal Transmission Limited and NER-II

Transmission Limited after these projects are commissioned, at values as agreed in the Framework agreement subject to certain adjustments and the requisite approvals.

(d) Interest service coverage ratio = Earnings before interest, depreciation, tax and amortisation (EBITDA) / Interest expense.

(e) Asset cover ratio = Total assets / Liability in respect of secured long term borrowing outstanding as at balance sheet date.

4.The weighted average number of equity shares outstanding during the period has been considered for calculating the basic and diluted earnings per share in accordance with Ind AS - 33

"Earnings per share".

5. Pursuant to share purchase agreements dated April 30, 2019 executed among the Company, Axis Trustee Services Limited (Trustee to India Grid Trust) and Sterlite Investment Managers

Limited (Investment Manager of India Grid Trust), the Company shall sell 100% stake in Sterlite Grid 2 Limited ('SGL2') [and consequently in NRSS XXIX Transmission Limited ('NRSS') which

is a wholly owned subsidiary of SGL2] and Sterlite Grid 3 Limited ('SGL3') [and consequently in Odisha Generation Phase II Transmission Limited ('OGPTL') which is a wholly owned subsidiary

of SGL3] to India Grid Trust subject to approval from the unitholders of India Grid Trust. Accordingly, the Company has classified investments in equity instruments of SGL2 and SGL3 as held

for sale. Further, the Company has recognised a loss of Rs. 410.85 million on loan given to SGL3 based on amount recoverable as per share purchase agreement. Further, the loans given by SGL2

to the Company has been presented as liabilities associated with non current assets classified as held for sale.

6.The Company being the sponsor of India Grid Trust (“IndiGrid”) has entered into “Inter-se sponsor agreement” dated April 30, 2019 (“the Agreement”) with Esoteric II Pte. Ltd. (“Investor”) to

designate the Investor as a “Sponsor” of IndiGrid subject to approval from SEBI in terms of SEBI InvIT Regulations and approval from the unitholders of IndiGrid. Pursuant to the Agreement,

SPGVL has agreed to sell 60.03 million units of IndiGrid to the Investor. Accordingly, the Company has classified such investment in the units of IndiGrid as held for sale which is recognised at

cost or fair value less costs to sell whichever is lower, resulting in an impairment loss of Rs. 954.54 million.

7. Amount of Interest of Rs. 224.25 million is due on 30 March 2020 and principal amount of Rs. 1,950 million is due on 28 March 2022 in respect of the non convertible debentures.

2. The figures for the half year ended March 31, 2019 and March 31, 2018 are the balancing figures between the audited figures in respect of the full financial year ended March 31, 2019 and

March 31, 2018 and the unaudited published year to date figures up to September 30, 2018 and September 30, 2017 respectively which were subject to limited review.

3. Definition for coverage ratios:

(a) Paid up debt capital represents: Long-term borrowings + current maturities of long-term borrowings + short term borrowings. Borrowings include Redeemable preference shares held by the

parent company which have been classified as liability under Ind AS

(b) Debt equity ratio = (Total long term and short term borrowings including current maturities) / Shareholders' funds. Borrowings include Redeemable preference shares held by the parent

company which have been classified as liability under Ind AS.

Shareholders' funds = Equity share capital + Other equity.

(c) Debt service coverage ratio = Earnings before interest, depreciation, tax and amortisation (EBITDA) / (Interest expense + Principal term loan repayment during the period).

1. The above results have been reviewed by the Audit Committee on May 13, 2019 and approved by the Board of Directors at its meeting held on May 14, 2019.

VED MANI TIWARI

Digitally signed by VED MANI TIWARI DN: c=IN, o=Personal, postalCode=121003, st=Haryana, 2.5.4.20=8459c0f42e98540eb3f43fc583ca5523bf6a0f373afaf1203fb09ab13b0719ec, serialNumber=c42943068dd7610b967f914bdd003bda30ab7022cbec3232222c6d652237e7a3, cn=VED MANI TIWARI Date: 2019.05.14 22:14:29 +05'30'

SRBC&COLLP gataPanchshil Tech Park, Yerwada

Chartered Accountant (Near Don Bosco School)Seraaie Pune - 411 006,India

Tel : +91 20 6603 6000

Independent Auditor's Report On Standalone Financial Results Pursuant to the Regulation 52of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To

The Board of Directors

Sterlite Power Grid Ventures Limited

1. We have audited the accompanying statement of standalonefinancial results of Sterlite

Power Grid Ventures Limited (‘the Company’) for the year ended March 31, 2019 (‘the

Statement’) attached herewith, being submitted by the Company pursuant to the

requirements of Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015 (‘the Regulation’), read with SEBI Circular No. CIR/IMD/DF1/69/2016

dated August 10, 2016 (‘the Circular’). This Statement has been prepared onthe basis of the

audited financial statements for year ended March 31, 2019, whichis the responsibility ofthe Company's management and has been approved by the Board of Directors. Our

responsibility is to express an opinion on the Statement based on our audit of the financialstatements as at and for the year ended March 31, 2019, prepared in accordance with

Indian Accounting Standards (‘Ind AS’) specified under section 133 of the Companies Act,2013 read with relevant rules issued thereunder and other accounting principles generally

accepted in India and the relevant requirements of the Regulation read with the Circular.

2. We conducted our audit in accordance with the Standards on Auditing, issued by the Institute

of Chartered Accountants of India. Those standards requires that we plan and perform the

audit to obtain reasonable assurance as to whether the Statement is free of materialmisstatement.

3. An audit involves performing procedures to obtain sufficient audit evidences about the

amountsand disclosures in the Statement. The procedures selected depend on the auditor's

judgementincluding the assessment of material misstatement of the Statement, whetherdue to fraud or error. In making thoserisk assessment, the auditor considers internalcontrols relevant to the Company's preparation and fair presentation of the Statement in

order to design audit proceduresthat are appropriate in the circumstancesbut notfor the

purpose of expressing an opinion on the effectiveness of the Company's internal control. Anaudit also includes evaluating the appropriateness of the accounting policies used and the

reasonableness of the accounting estimates made by the 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 audit opinion.

4. In our opinion and to the best of our information and according to the explanations given tous, the Statement:

i. iS presented in accordance with the requirements of the Regulation read with theCircular, and

ii. gives a true andfair view of net profit including the other comprehensive income andother financial information of the Company for the year ended March 31, 2019.

(This space has been intentionally left blank)

SRBC &COLLP,a Limited Liability Partnership with LLP Identity No. AAB-4318

Regd. Office : 22, Camac Street, Block ‘B’, 3rd Floor, Kolkata-700 016

SRBC&COLLPChartered Accountants

5. Further, we report that the figures for the half year ended March 31, 2019 represent thederived figures between the audited figures in respect of the financial year ended March 31,2019 and the published figures for the half year ended September 30, 2018, which weresubjected to a limited review, as required under the Regulation read with the Circular.

ForSRBC&COLLP

Chartered Accountants

irm ae ion Number: 324982E/E300003

per Paul res

Partner

Membership Number: 105754

Place of Signature: Pune

Date: May 14, 2019

Sterlite Power Grid Ventures Limited, F-1, The Mira Corporate Suites, 1 & 2, e

Ishwar Nagar, Mathura Road, New Delhi — 110 065, India +91 11 4996 2200 WiSter[ite Power

Date- 14 May2019

To

BSE LimitedIst Floor, Phiroze Jeejeebhoy Towers,

Dalal Street, Mumbai- 400 001, Maharashtra

Sub: Declaration pursuant to the proviso to clause “a” of Sub-regulation *3° of Regulation 52 of the Securitiesand Exchange BoardofIndia (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir/ Madam,

Pursuant to proviso to clause “a” of Sub-regulation “3° of Regulation 52 of Securities and Exchange Board of

India (“SEBI”) (Listing Obligations and Disclosure Requirements) Regulations, 2015, (-LODR”), read with

circular issued thereunder fromtimeto time, we hereby declare that the Statutory Auditors of the Companyi.e. SRBC &CoLLP,Chartered Accountants (ICAI Firm Registration No. 324982E/ E300003) have issued anaudit

report with an unmodified opinion on the Audited Financial Statements of the Companyfor the financial yearended March 31, 2019.

This is for your information and recordplease.

Thanking you,

Yourssincerely,

For Sterlite Power Grid Ventures Limited

alSaurabh Mathur

CompanySecretaryMembership No. — F7272

Copyto-

Axis Trustee Services LimitedThe Ruby, 2nd Floor, SW

29, Senapati Bapat Marg, Dadar West Mumbai — 400

028, Maharashtra, India

Registered Office: 4th Floor, Godrej Millennium 9 Koregaon Road, Pune, Maharashtra 411001 INDIACIN: TI8819APNONTAPT.C179298 | wowcterlitenawer eam

pes TRUSTEE

ATSL/CO/19-20/9G byMay14, 2019

Sterlite Power Grid Ventures Limited

The Mira Corporate Suites,

1 & 2, Ishwar Nagar, Mathura Road,

New Delhi -110 065

Kind Attn.: Mr. N. Maharajan

Sub: Letter of Debenture Trustee pursuant to Regulation 52 (5) of the SEBI (Listing Obligations

and Disclosure Requirements) 2015 ~ for half year ended March 31, 2019

DearSir,

This has reference to privately placed listed Non-Convertible Debentures issued by Sterlite Power

Grid Ventures Limited (“Company”) andlisted on the Stock Exchange(“Listed Debt Securities”).

Pursuant to Regulation 52(4) read with Regulation 52 (5) of the SEBI (Listing Obligations andDisclosure Requirements) 2015, the Company is required to submit its half yearly/annualfinancialresults to the Stock Exchange, with a letter of the Debenture Trustee (Axis Trustee Services Limited)

that the Debenture Trustee has noted the contents furnished by the Companyas per Regulation 52(4).

In pursuance thereof we hereby confirm that we have received the said aforesaid information vide

your email dated May 14, 2019 (enclosed herewith) along with the relevant/necessary supporting and

wehave noted the contents in respect of the Listed Debt Securities issued by the Company.

Yoursfaithfully,For Axis Trustee Services Limited

pitAnkit SinghviAssistant General Manager

Encl.: As above

AXIS TRUSTEE SERVICESLTD.

(A wholly ownedsubsidiary of Axis Bank)

Corporate Identity Number (CIN): U74999MH2008PLC182264

REGISTERED OFFICE: Axis House, WadiaInternational Centre, Pandurang Budhkar Marg, Worli, Mumbai - 400 025.

CORPORATEOFFICE:Axis Trustee Services Limited | The Ruby | 2nd Floor | SW | 29 Senapati Bapat Marg | Dadar West | Mumbai- 400 028

Tel. No.: 022 6230 0451 » Website: www.axistrustee.com