S. MANDAL & CO.29D , SEVEN TANKS LANE CHARTERED ACCOUNTANTS JN. -700 030 Phone : 2556-676 2546-3269 Fax :(033) 2546-3269 E-Mail : [email protected]

INDEPENDENT AUDITOR'S LIMITED REVIEW REPORT ON UNAUDITED FINANCIAL RESULT FOR THE QUARTER ENDED 30TH JUNE, 2020 OF SALEM ERODE INVESTMENTS LIMITED PURSUANT TO REGULATION 33 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

To, The Board of Directors Salem Erode Investments Limited 14, Motilal Nehru Road, Kolkata – 700029

1. We have reviewed the accompanying Statement of Unaudited Financial Results of Salem Erode Investments Ltd ("the Company"), for the quarter ended June 30, 2020 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time.

2. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in . Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we

would become aware of all significant matters that might be identified in an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

4. Based on our review conducted as stated in Paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard prescribed under section 133 of the Companies Act, 2013and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For S. Mandal & Co. Chartered Accountants FRN : 314188E

Digitally signed by DEY HARAN CHANDRA DN: c=IN, st=, DEY 2.5.4.20=81a6e925d7a73b026d59ded5c39cb5fb4d 5da24ee999c2c2e5a3a99a39681aaf, postalCode=700094, street=S/O: LATE MADAR CHANDRA DEY, B-57, NEW DEV. CO-OP HOUSING SOCIETY LTD NEAR MANDIR, , HARAN , serialNumber=716630c616e36ed38d8cb50d996e6e 7bd9a78193358c42661d61829a63369ba9, o=Personal, cn=DEY HARAN CHANDRA, pseudonym=9188548fa427e38adf98419070d16d34 CHANDRA Date: 2020.09.15 13:50:33 +05'30'

H.C Dey Partner Membership No :050190

UDIN :20050190AAAADB2233

Place : Kolkata Date :15th of September, 2020

Digitally signed by DEY HARAN CHANDRA DN: c=IN, st=West Bengal, 2.5.4.20=81a6e925d7a73b026d59ded5c39c b5fb4d5da24ee999c2c2e5a3a99a39681aaf, DEY postalCode=700094, street=S/O: LATE MADAR CHANDRA DEY, B-57, NEW GARIA DEV. CO-OP HOUSING SOCIETY LTD NEAR MANDIR, NEW GARIA, PANCHASAYAR, HARAN serialNumber=716630c616e36ed38d8cb50 d996e6e7bd9a78193358c42661d61829a63 369ba9, o=Personal, cn=DEY HARAN CHANDRA, CHANDRA pseudonym=9188548fa427e38adf9841907 0d16d34 Date: 2020.09.15 13:03:07 +05'30' Digitally signed by DEY HARAN CHANDRA DN: c=IN, st=West Bengal, 2.5.4.20=81a6e925d7a73b026d59ded5c39cb5fb4d5da24ee999c2c2e5 DEY HARAN a3a99a39681aaf, postalCode=700094, street=S/O: LATE MADAR CHANDRA DEY, B-57, NEW GARIA DEV. CO-OP HOUSING SOCIETY LTD NEAR MANDIR, NEW GARIA, PANCHASAYAR, serialNumber=716630c616e36ed38d8cb50d996e6e7bd9a78193358c4 2661d61829a63369ba9, o=Personal, cn=DEY HARAN CHANDRA, CHANDRA pseudonym=9188548fa427e38adf98419070d16d34 Date: 2020.09.15 13:48:14 +05'30'