Phillips Carbon Black Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018
Auditor and Management Disclosures and Notes for the quarterly results dated 31 Dec 2018
1. The above unaudited standalone financial results of the Company for the quarter and nine months ended 31 December, 2018 have been reviewed by the Audit Committee and thereafter approved by the Board of Directors at their respective meeting held on 16 January 2019.
2. Effective 01 April, 2018, the Company has adopted Ind-AS 115, Revenue from Contracts with Customers. Under the modified retrospective approach, there were no significant adjustments required to be made to the retained earnings as at 01 April 2018. Also, the application of Ind-AS 115 did not have any significant impact on the results for the period.
3. Post the applicability of Goods and Service Tax (GST) with effect from July 1,2017, Revenue from Operations are required to be disclosed net of GST in accordance with the requirements of Ind AS. Accordingly, excise duty realised is included in Revenue from Operations upto 30 June, 2017 and Revenue from Operations for subsequent periods are net of GST and hence not comparable.
4. An interim dividend @ 175% (Rs. 3.50/- per equity share) on face value of Rs. 2/- per share for the year ending 31 March 2019 was declared at the meeting of the Board of Directors of the Company held on 16th January 2019.
5. The additional 56,000 MT capacity at Mundra in Gujrat has since been commissioned.
6. Figures for the corresponding previous period have been regrouped / reclassified, wherever necessary, to make them comparable.