Ruby Mills Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2020
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2020
1. The Audit Committee has reviewed the above results and the Board of Directors has approved the above results at their respective meetings held on 31st July, 2020.
2. Effective from 1st April, 2019 on implementation of Ind AS 116 'Lease', the company has made transition adjustment as per para CS (c) {ii) of Ind AS 116, i.e. prospective implementation without changing opening balance of reserves and adoption of this standard did not have any material impact on the profit of the current year.
3. The Company has, on a reallocation of finance cost amongst textile and realestate and related division, has effective form 01" April, 2019 considered f 643.55 lakh as recoverable from the Developer. The Developer has agreed to reimburse the said cost to the Company.
4. On 31st January, 2020 there was a fire at one of the sheds at Dhamni Factory. The company has ascertained the quantum of damage and accordingly the claim has been lodged with the insurance company. An adhoc amount has already been received by the company.
5.The Interim dividend of Rs. 1.75 per share of the nominal value of Rs. 5.00 each for the financial year ended 3111 March, 2020 was declared on 13th February, 2020 and paid to all eligible shareholder on 02nd March, 2020. The interim dividend paid is considered as final dividend for the financial year ended 31 '' March, 2020.
6. The primary sales of March 2020 and subsequent months was Impacted especially for the nationwide lockdown declared by Government of India from 22nd March, 2020 due to COVIDol9. Based on all relevant Internal and external Information available, Company does not anticipate any challenges in its ability to continue as Going Concern or meeting its financial obligations carrying value of property, plant and equipment, other intangible assets, Investment, inventories, trade receivables and deferred tax assets.
7. Result for the quarter ended 31i' March, 2020 are available on the Bombay Stock Exchange Limited website {URI.: www.bselndia.com) and The National Stock Exchange of India limited website (URL:www.nseindia.com) and on the company's website {URL: www.rubymills.com).
8. Figures of three months ended 31st March, 2020 and 31st March, 2019 are the balancing figures between audited figures In respect of the full financial year and the published year to date figures upto the third quarter of the respective financial year.
9. Figures for previous year/ period have been regrouped wherever necessary.