STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2020
(Rs. In Lacs except earning per share data)
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| NOTES:- |
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| 1. The Audited Ind AS financial results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 30.06.2020. The Audit Report of the Statutory Auditors alongwith results is being filed with the Stock Exchange(s). However, since the consolidated financial results of the company are being submitted for the first time pursuant to the mandatory requirement with effect from 1st, April 2019, the consolidated figures for the comparative quarter of financial year ended 31st March, 2019, as reported as these financial results, have not been subjected to audit. |
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| 2. These financial results have been prepared in accordance with Indian Accounting Standards (IND-AS) as prescribed under section 133 of Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment thereafter. These financial results of the parent company and its subsidiaries (together referred as the "Group") have been prepared in accordance with IND-AS 110 - Consolidated Financial Statements". |
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| 3.The figures for the quarter ended March, 2019/2020 are balancing figures between audited figures in respect of year ended March 2019/2020 and the published year to date figures upto the nine months period ended December 2018/2019. |
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| 4.Tax Expense (Current tax) for the quarter/year ended 31st March 2020 is net of Income tax adjustments relating to earlier years amounting to Rs. 126.13 Lacs. |
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| 5.Pursuant to the Taxation Laws (Amendment) Ordinance, 2019, tax rates have changed with effect from April 01, 2019 and accordingly, the company has opted for reduced rates as permitted under Section 115BBA of the Income Tax Act, 1961. Accordingly the company has recognised provision for income tax for year ended March 31, 2020 and re-measured its deferred tax on the basis of rates prescribed in said section. The full impact of this change, which is Rs. 527.55 Lacs, has been evenly spread out in three quarters ended September 2019, December 2019 and March 2020. |
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| 6. The company has analysed all the relevant parameters associated with the risk due to pendamic COVID-19 and is of the opinion that it will not have any matrial impact on the businness and going concern assumption. |
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| 7. The Board of Director have recommended Dividend @ 8% on the equity share capital for the financial year ended 31st March, 2020 |
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| 8. Figures of the previous period have been regrouped and rearranged wherever necessary to correspond with current period's classification/disclosure. |
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For and on behalf of the BOARD
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Date: 30.06.2020
Place - Unnao |
Mukhtarul Amin
Chairman and Managing Director
DIN - 12108
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