Ras7tihe FAG FAG Bearings india Limited BSE Limited Company Code:"'505790 Phiroze Jeejeebhoy Towers, Dalal Street, MUMBAI - 400 001 February 12, 2016 Your ekerence Owrtetne mon sy ema far te Sub: Audited Financial Results Ref, Reg. 30 read with Schedule Ill [Part A] of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 Dear Sirs, Please find enclosed herewith - * Audited Financial Results for the Quarter & Year ended December 31, 2015; * Auditors’ Report on the Audited Financial Results for the Quarter & Year ended December 31, 2015; " Form A Please note that above Financial Results have been approved by the Board in its meeting held on Friday, 12" Day of February, 2016 at Mumbai and are being published in the Newspapers. The Board Meeting commenced at 1100 hours and concluded at 1400 hours. veasotnce Mess Novel adr 39009 OIA Prone’ 91 365 6602000 Thanking you. vewneachaeer co Yours faithfully, roines For FAG Bearings India Limited Please take the same on your record Registered office 227, Backbay Reclamation, Nariman Pot, Phone: +9122 666144446681 4499, Foesgiaa 303700 ne Lagromnig6aPLcons9a Company Secretary ICSI M No.: ACS 15526 sees ofa: Mnba ol, Now ht chro, Fone Sons, tyeabod Encl: As above Jamster tian Fan Uanpor abanesvarfees: Acme on vit eyecare FAG Jpn ver zeae: Fo 2222027022 eet mane nl artic om ‘STATEMENT OF AUDITED FIVANGIAL RESULTS FOR THE GUARTER AND YEAR ENDED DECEMBER 1, 2076 Se ne [sera om Goes ncn a * lira i Geer wid is Won Pgs ace [Set an nw 2 ris tec Arr fares [arr er snow serra [ereCaa raced ‘STATEMENT OF ASSETS ANO LABILITIS (cican re wwSSS TS Sa SE TO STB PS RS SAO a HT SRE Hm wero npr He Fara crpe Sone ager sv pope eos) on Sagnert RePO Te rons muergnqe een ns rs hap owed aw wae peed emt fe eta [seems eS Res pespues ioe eee caer nes He enor eres see been’ 21nra mreed yb At Canete sd mre Bo cm ter mwas neat [rect tere nr star are eee mune eo exam ape re foe mantle nt me aay asus ae e ‘popu ares = conan hn any we we lc Oe pan Np snag wt tn sire Suna 0) 28 Tel ren eae tier [ns comer uy re yin ers conan conan, Conon mene FB men Mr |S rane genre hepa neo Ore 8 peeve nonna nunnater nur a Conan w 7 RD Pre ins pen etree Wen Cats En ne ca Laer esr Sage Doom in Se 2 etary 20 be mere ane Carano) ee nee ecanl 20s em notary orpemne aes Oe careperary von Pees erate evo prs tv bon eed weve taco GaE PRC em laces oper state tev ce era ergs a ming ho nae WERE weBSR &Co. LLP Chartered Accountants Sth Floor, Lodha Excelus. Telephone +91 (22) 4345 5300 Apollo Mil Compound Fax +91 (22) 4345 5999 NM. Joshi Marg, Mahalaxmi Mumbai - 400 011 India Independent Auditor’s Report on the Financial results of FAG Bearings India Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 To the Board of Directors FAG Bearings India Limited We have audited the accompanying annual financial results of FAG Bearings India Limited (‘the Company’) for the year ended 31 December 2015, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Attention is drawn to the fact that the figures for the quarter ended 31 December 2015 and the corresponding quarter ended in the previous year as reported in these financial results are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the end of the third quarter of the relevant financial year. Also, the figures up to the end of the third quarter had only been reviewed and not subjected to audit, ‘Management’s Responsibility for the Financial Results ‘These financial results have been prepared on the basis of the annual financial statements and reviewed quarterly financial results up to the end of the third quarter. Management is responsible for the preparation of these financial results that give a true and fair view of the net profit and other financial information in accordance with the recognition and measurement principles laid down in the Accounting Standards which are notified under Section 133 of the Companies Act, 2013 (the Act), read with Rule 7 of the Companies (Accounts) Rules. 2014 and other accounting principles generally accepted in India and in compliance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. ‘This responsibility also includes design, implementation and maintenance of internal control relevant 1o the preparation and presentation of the financial results that give a true and fair view and are free from material misstatement, whether duc to fraud oF error. Auditor’s Responsibility Our responsibility is to express an opinion on these financial results based on our audit of the annual financial statements, We conducted our audit in accordance with the Standards on Auditing generally accepted in India, Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial results are free of material misstatement. ‘An audit includes examining, on a test basis, evidence supporting the amounts disclosed as financial results, An audit also includes assessing the accounting principles used and significant estimates made by management. We believe that our audit provides a reasonable basis for our opinion. WwwBSR&Co.LLP Independent Auditor’s Report on the Financial results of FAG Bearings India Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Continued) FAG Bearings India Limited Opinion In our opinion and to the best of our information and according to the explanations given to us, these financial results: (Ware presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in this regard; and (i) give a true and fair view of the net profit and other financial information for the year ended 31 December 2015. Emphasis of matter We draw attention to Note 5 to the financial results in respect of accounting for forward contracts ‘The Company has adopted and applied the principles of hedge accounting as set out in Accounting Standard (AS) 30, ‘Financial Instruments: Recognition and measurement’ issued by the Institute of Chartered Accountants of India to forward contracts in respect of highly probable transactions or firm commitments. Consequently, the Company has recorded Rs. 8.6 million representing marked to market gain in the hedging reserve as at 31 December 2015. Our opinion is not qualified in respect of this matter. For BSR & Co. LLP Chartered Accountants Firm’s Registration No: 101248W/W-100022 Vn na Viiay Mathur Mumbai Partner 12 February 2016 Membership No: 046476Form A [Pursuant to Reg. 33(3)(D) of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIRICFD/CMD/16/2015 dated November 30, 2015] Name of Company: FAG Bearings India Limited Financial Results for the year ended: December 31, 2015 ‘Type of Audit observation: Un-qualified Frequency of observation’ Not Applicable Signed By ‘Audit Committee Chairperson an, is. Renu Cra [DIN:00157204] Managing Director Li Coponey Mr. Rajendra Anandpara DIN: 02461259 Chief Financial Officer je fF uF Mr. Satish Patel Statutory Auditor of the Company For B S R & Co. LLP [Chartered Accountants} (Firm's Registration No. 101248W / W-100022) vn") wenn Mr. Vijay Mathur Partner [Membership No: 046476]