Block-A,3-l{aviibhaiApailment,

HemontCParikh&Co..
Chaderedaccountants
{@ Opp.KananFlats,Nr. PallaviTower,
B.Com.,
FCA Opp.Navrangpura Fire Station,
Navrangpura,Ahmedabad-3 80009.
{M} 982s83862s

Limited Review Report

Review Report to Devhari Exporls (India) Limited

We havd reviewed the accompanying statementof standaloneunaudited financial results of

Devhari Exports (India) Limited for the period ended31't December,2016. This statementis the
responsibilityof the Company's Managemcntand has been apprr:vedby the Board of Directors.
basedorJour review.
Our responsibilityis to issuea repofl on ihesefinarrcialslatements

we conductedour review in accordancewith the Standardon Review Engagement(sRE) 2400,

Engagementsto ReviewFinancial Statementsissuedby the Institute of CharleredAccountantsof
India. This standardrequiles that we plan and perform the review to obtain moderateassurance
as to whether the financial statementsare free of material misstatdment.A revierv is lir,rited
primarily to inquiries of company personneland analytical proceduresapplied to financial data
and thus provide less assuranbethan an audit. We have not performed an audit and acoordingly,
we do not expressan audit opinion.

Based on our review conducted as above, nothing has come to our attention that causesus to
believe that the accolnpanyingstatementof unaudited financial results preparedin accordance
with applicableaccountingstandardsand other recognizedaccountingpraclices and policies has
not disclosedthe information required to be disclosed in terms of Regulation 33 of the SIIBI
(Listing Obligations and Disclosure Requirements)Regulations,2015 including the manl.'t in
which it is to be disclosed,or that it containsan)'material misstatement.

For Hemant C. Parikh & Co.,

..1.;;CharteredAccountants

Place:Ahmedabad A/ltk"f-.
Date: 04tnFebruary, 2017
HemantC. Parikh
(Proprietor)
MembershipNo.031780
HemontCPorikh&Co., Block-A,3-RavjibhaiApartment,
aicountants
Chartered Opp.KananFlats,Nr. PallaviTower,
B.Com.,FCA Opp.Navrangpura Fire Station,
Ahmedabad-3
Navrangpura, 80009.
{M} 982s838629

Limited Review Report

ReviewReportto DevhariExports{lndia) Limited

We have reviewed the accoinpanying staternentof consolidatedunaudited financial results of

Devhari Exporls (ndia) Limited for the period ended31'r December,2016. This statenent is the
responsibilityof the company's Managementand has been approvedbl the Boald o1'Directors
basedon our review.
Our responsibilityis to issuea report onihese financial stzitements

we conductedour review in accordancewith the Standardon Review Engagement(sRE) 2400,

llngugementsto ReviewF'inancialStatem.erfsissuedby the Institute of CharleredAccountantsof
'lhis
India. standardrequiresthat we plan and perform the review to obtain moderaleassurance
as to whether the financial statementsare lree of material misstatement.A review is limited
primarily to inquiries of company personneland analltical proceduresapplied to financial data
anclthus proyide less assurancethan an audit. We have not performed an audit and accordingly,
we do no1expressan audit opinion.

Based on.our review conducted as aboVe,nothing has come to our attention that causesus 10
believe that the accompanyingstatementof, unaudited financial results preparedin accordance
with applicableaccourting standardsand other recognizedaccountingpracticesand policies has
not discloscd the information requircd to be disclosed in terms of Regulation 33 of tlle SEBI
(Listing Obligations and Disclosure Requirements)Regulations.2015 including the manner tn
which it is to be disclosed,or that it containsany material misstatement'

For Hemant C. Parikh & Co.,

Chartered Accountants

l'lacc: Ahmedabad
l)ate: 04tnFebruary, 2017