Styrenix Performance Materials Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2018
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2018
1. The above statements were reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on May 15, 2018. The audit report does not contain any qualification by the statutory auditors.
2. Revenue from operations for periods up to June 30, 2017 include excise duty, which is discontinued effective from July 01, 2017 upon implementation of Goods and Services Tax (GST) in India. In accordance with Ind AS 18, Revenue, GST is not included in revenue from operations. In view of the aforesaid restructuring of indirect taxes, revenue from operations for the quarter and the year ended March 31, 2018 are not comparable with the previous periods.
3. The figures for the last quarter are the balancing figures between audited figures in repsect of the full financial year and the published year to date figures up to the third quarter of the respective financial year.
4. The Board of Directors recommended a dividend of INR 4 per share [ @ 40%] for the period ended March 31,2018 subject to approval of the Shareholders.