Atul Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2017
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2017
1. In accordance with the notification issued by the Ministry of Corporate Affairs, the Company has adopted Indian Accounting Standards (referred to as 'Ind AS') notified under the Companies (Indian Accounting Standards) Rules, 2015 read with Section 133 of the Companies Act, 2013, with effect from April 01, 2016. The impact of transition has been provided in the Opening Reserves as at April 01, 2015. March 31, 2016 results have been restated accordingly.
2. In accordance with Ind AS 101 First-time Adoption of Indian Accounting Standard, reconciliation between standalone financial results, as previously reported (under the previously applicable Indian GAAP’) and Ind AS for the quarter ended on March 31, 2016 and year ended on March 31, 2016 are as under: For Table, kindly refer Corporate Announcements on www.bseindia.com.
3. The Board of Directors of Atul Ltd in the meeting held on March 24, 2017 decided not to proceed with the merger of Amal Ltd with Atul Ltd which was conveyed to the Stock Exchanges on the same date.
4. The Board of Directors has recommended a dividend of Rs. 10.00 per share (100 % ) subject to approval of the Shareholders.
5. The Annual General Meeting of the Members will be held on July 28, 2017.
6. The above results have been reviewed and recommended for adoption by the Audit Committee in its meeting held on May 04, 2017, and approved by the Board of Directors at its meeting held on May 05, 2017.