Ramkrishna Forgings 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 for the quarter and nine months ended December 31, 2018 have been reviewed by the Audit Committee and thereafter approved by the Board of Directors of the Company at their respective meetings held on February 1, 2019 and February 2, 2019 respectively.
2. 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 June 30, 2017 and Revenue from Operations for subsequent periods are net of GST and hence not comparable.
3. The Company manufactures "Forging components" and the management reviews the performance of the Company as a single operating segment in accordance with Ind AS-108 "Operating Segments" notified pursuant to the Companies (Indian Accounting Standards) Rules, 2015. Accordingly, no separate segment information has been furnished herewith.
4. The paid up Equity Share Capital of the Company excludes 55,430 equity shares amounting to Rs. 5.54 lakhs held by Ramkrishna Forgings Limited Employee Welfare Trust for exercising the options under Ramkrishna Forgings Limited - Employee Stock Option Plan 2015 (RKFL ESOP Scheme 2015 ("the Plan") which has been funded by interest free loan provided by the Company to the Trust.
