Pioneer Embroideries Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018

Notes:



1. The above results were reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on 4th February, 2019.

2. The above results have been reviewed by the Statutory Auditors of the Company.

3. The business activity of the Company falls within a single primary business segment viz ‘Textiles’ and hence there is no other reportable segment as per Ind AS-108 ‘operating segments’.

4. Post-implementation of GST w.e.f. 1st July, 2017, revenue is required to be disclosed net of GST as per requirement of Ind AS. Accordingly, revenue figure for nine months ended 31st December, 2018 are not comparable with the corresponding previous period.

5. Effective from April 01, 2018, the Company has adopted Ind AS 115 ''Revenue from contracts with customers''. The comparative information is not restated. Application of this standard does not have significant impact on the revenue recognition and measurement.

6. During the quarter, the OCCRPS holders have exercised their right and opted to convert OCCRPS of `298.63 lakh and accordingly, 8,30,657 equity shares of `10 each are issued at an average price of `35.95 per share to them.

7. Tax liability is not considered in view of carry forward losses.

8. The previous period figures have been regrouped/rearranged, wherever considered necessary.