The Ramco Cements Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018

1) The above un-audited results were reviewed by the Audit Committee and approved by the Board of Directors at their Meetings held on 29-01-2019.



2) The company's business operation comprises of single operating segment viz., cement and cementitious materials.



3) Consequent to the introduction of GST with effect from 1-7-2017, the excise duty is subsumed under GST and thus the Revenue from Operations are presented net of GST as per Ind AS. Hence Revenue from Operations for the nine months ended 31-12-2018 are not comparable with previous corresponding period.

4) The Competition Commission of India (CCI) vide its order dated 31-08-2016 had imposed a penalty of Rs. 25863 Lacs on the company towards alleged cartelisation. Our appeal alongwith the appeals of other cement companies had been dismissed by NCLAT vide its order dated 25-7-2018. Against the order, the company appealed to the Hon'able Supreme Court, which by its order dated 5-10-2018 admitted the appeal and directed to continue the interim order passed by NCLAT. Accordingly the company re-deposited Rs.2586 Lacs being 10% of the penalty.The Company backed by legal opinion, believes that it has a good case and hence no provision is made.

5) The previous period figures have been re-grouped/re-stated wherever necessary.