Sharda Cropchem 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 aforesaid unaudited standalone financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on January 24, 2019. The statutory auditors have carried out a limited review of these results.
2. One of the segments of the Company, viz. "Agrochemicals" is seasonal in nature and is impacted by cropping pattern and weather conditions across the globe. Accordingly, quarterly figures are not representative of the other quarters and full year's performance.
3. Other income/ other expenses include the following:
Particulars Quarter ended Year ended
December 31, 2018 December 31, 2018
Dividend from subsidiary included in other income 2106.02
Foreign exchange (gain) / loss included in other income (1705.82)
Foreign exchange (gain) / loss included in other expenses 265.29 1234.99
4. The Board of Directors have approved an interim dividend of Rs 2 per equity share of Rs.10 each fully paid up for the financial year 2018-2019 at the meeting held on January 24, 2019.
5. The uncertainty in relation to the timing of obtaining product registration, has led to a change in timing of capitalisation of Intangible Assets and its resultant depreciation and allow ability for income tax purposes which has resulted into a reduction in the current tax provision and creation of additional deferred tax liability during the quarter.
6. Figures for the previous period / year have been regrouped / rearranged, wherever considered necessary to conform to the current period/year's classification.