Symphony 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. The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on May 16, 2017.
2. The Board of Directors has recommended, subject to approval of shareholders, a final dividend of Rs. 1/- per equity share of Rs. 2/- each for the year ended March 31, 2017. Further an interim dividend of Rs. 3.50/- per equity share was paid during the year. Total Dividend proposed / paid is Rs. 4.50/- per equity share (225%) (previous year Rs. 25/- per equity share (1,250%) which included special dividend of Rs. 10/-). The total dividend appropriation for the year ended March 31, 2017 amounts to Rs. 3,157.45 lacs including dividend distribution tax of Rs. 534.06 lacs.
3. Consolidated audited figures include financials of Symphony Limited and financials of its Wholly Owned Subsidiaries (WOS) as under.
a. Audited financials of Sylvan Holdings Pte. Ltd., Singapore for the year.
b. Audited financials of Impco S. DE. R. L. DE. C. V., Mexico for the year.
c. Audited financials of Symphony USA Inc (SUI) wholly owned subsidiary (WOS) of Impco S. de R. L. de C. V, Mexico upto December 31, 2016.
d. Audited financials of Guangdong Symphony Keruilai Air Coolers Co., Ltd, China for the year.
4. The Company has allotted 34,978,500 bonus equity shares of Rupees Two each fully paid up on September 17, 2016 in the proportion of one (1) bonus equity share for every one (1) fully Paid up equity share . As a result of the bonus issue the paid up capital of the Company stands increased to Rs. 1,399.14 lacs from Rs. 699.57 lacs. Consequent to the above increase in Paid up capital, the earnings per share have been restated for prior periods for proper comparison.
5. In view of the provision of Companies Act 2013, the company has changed its accounting year to March ending instead of June ending as informed earlier. Accordingly previous accounting year is of Nine months ended on March 31, 2016.
6. The figures under the title "Standalone - Twelve months ended 31-Mar-16" and the title "Consolidated - Twelve months ended 31-Mar-16", though statutorily not required to be given, are given only for current year 12month vis-a-vis previous year 12 months comparison.
7. Impco S. de R. L. de C.V, Mexico step-down-subsidiary of the Company has bought back its entire shareholding held by Sylvan Holding Pte Limited, Singapore and thus IMPCO, Mexico has become direct subsidiary of the Company.
8. During the year, Symphony USA Inc. (SUI) has closed down its operations w.e.f. December 31, 2016. SUI was a wholly owned subsidiary (WOS) of Impco S. de R. L. de C.V, Mexico (IMPCO).
9. The figures for the quarter ended March 31, 2017 are balancing figures between audited figures in respect of the year ended March 31, 2017 and the unaudited published year to date figures upto 3rd quarter ended December 31, 2016.
10. Previous period figures have been rearranged / regrouped wherever necessary to make them comparable with the figures of the current period.