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G. S. MATHUR & CO.

Chartered Accountants
F.3, VI(RAM CHAMOER, INCOME IAX, AHMEDABAD
- 3AOOO9
M No, -91 9913434534 L-msit- bhr{a(v&het.@.h.it.com

Annexure V to Clause 41

revlewed

the accompanying statement of unaudited financial results of M/s

-We_have
ISHAN DYES & CHEMICALs LIM|TED for the period ended 31st
ZOi+

D"i"-t"",

for lhe disclosures regarding .public Sharehoiding, and ,promoter and promoier ""."pt
Croup
Shareholding' which have been traced from disci"osures *ra"
ly
tfr" *rrrg".*t ana
h.ave not been audjted by us. This statement is
the responsibility of the"Company,s
Management and has been approved by the Board of Directors/
Committee of Board of
ulrectors uur responsibirity is to issue a feport on these financial statements
based on
We conducted our review in accordance with the Standard
on Review Engagemeht [SRE)
2400, engagements to Review Financial Statements issued by
the In"tiiu'tu"oiCt

Accountants of India. This standard requires that we plan

".t"."a
and perform the review
to
obtain modemte assurance as to whether the financial statement"
ui" i."" oi .rt"riuf
mjssLatement. A review js limited primarily to inquirjes of company personnel
and
anarytrcar procedures applied to financiar data and rhus provide
leis aisurance than an
audit. We have not performed an audit and accordingly, lv"
d"
oPinion
"". ";.;;;;;;;i;
Based on our review conducted as above, nothing
has come to our attention that causes us

to believe that the accompanying statement oaunauditea Rranciat .".riis

lrepa.ea tn
accordaDce with applicable accounting standards and other
recognised accounLing
practices and policies has not disclosed the information
required to beiisclosed in terms
ofClause 41 olthe Listing Agreement including the manner
in whi.f, iti. to U"-ai.cfor"a,
orthat it contains any material misstatemenL
PIace: Ahmedabad

Date:02,d February, 20t

FOR,GSMATHUR&CO
Chartered Accountants

BWY_
Partner
CA Bhargav Vaghela

M. No,124619