Rossell India 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 Financial Results of the Company have been prepared in accordance with the Indian Accounting Standards (Ind AS) as notified under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015, as amended. The Financial results for all the period presented have been prepared in accordance with the recognition and measurement principles of Ind AS 34 - Interim Financial Reporting.
2. Cultivation. Manufacture and Sale of Tea being seasonal in nature, the above results are not indicative of the results for the full year.
3. Consumption of green leaf represents cost of green leaf purchased from other growers and net of revision in fair value of stock. of own cultivated green leaf at the end of the reporting period.
4. No adjustment has been made in respect of Deferred Taxation as per Ind AS 12- Income Taxes, as the same would be provided at year end.
5. In view of infusion of additional funds by another Partner in the Joint Venture / Associate Company at Singapore, no further impairment in the value of Preference Shares of that Company is contemplated at this stage. However, Impairment loss, if any, shall be ascertained in terms of Ind AS 28. Investments in Associates and Joint Ventures at the year end.
6. The above results were reviewed by the Audit Committee and approved at the Meeting or the Board of Directors of the Company at their respective Meetings held on 5th February, 2019. The Statutory Auditors have carried out the limited Review of these results.