Shubham Polyspin Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2021

Notes:

1. The above results have been reviewed by the Audit committee and taken on record by Board of Directors at their meeting held on 14th February, 2022 and the same have been subjected to limited review by the Statutory Auditors of the Company.



2. The Equity shares of the Company listed on SME Platform of BSE Limited have been migrated from the SME Platform to the Main Board w.e.f. 31st May, 2021 vide BSE Notice Number: 20210527-29 dated 27th May, 2021. In view of this, the Companies (Indian Accounting Standards) Rules, 2015 has become applicable for the financial year 2021-22. Hence, the financial results for the quarter ended on 31st December, 2021 are IND-AS complaint. Consequently the financial results for quarter ended on 31st December, 2020 has been restated to comply with IND-AS to make them comparable.





















3. Reconciliation of Profit between IND AS and Previous Indian GAAP for earlier period

(Amount in Lakhs)

Nature of adjustments Profit Reconciliation

Quarter ended December 31, 2020 Nine Months ended December 31, 2020 Nine Months ended December 31, 2021 Year ended March 31, 2021

Profit as per previous India GAAP 3.46 29.61 69.95 44.41

Impact of Right of Use accounting and Fair valuation of Rental Deposit (0.46)

(1.41)

(1.32)

(1.86)

Impact of writing off Preliminary and Pre-operative expenditure 4.49

16.14

17.65

22.05

Impact of Fair valuation of Investments 0.57 1.20 0.82 1.21

Impact of Fair valuation of Derivatives 0.59 7.30 2.66 10.03

Impact of Recognition of Financial Liabilities at Amortized Cost (0.18)

(0.54)

(0.54)

(0.73)

Deferred Tax Impact on above adjustments (0.78)

(3.81)

(6.00)

(3.47)

Total 4.22 18.88 13.28 27.23

Net profit before OCI as per Ind AS 7.68 48.49 83.23 71.64



4. In terms of the said SEBI circular, submission of Ind-AS compliant financial results for the previous year ended March 31, 2021 is not mandatory. However to facilitate comparison, Ind-AS comparatives for the period mentioned above are given subjected to limited review.



5. The Company is dealing in Single Segment i.e. Manufacturing of Yarns and allied products.



6. Figures of the Previous Period have been regrouped/rearranged wherever considered necessary to make them comparable with those of current period.