Symphony Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2021
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2021
# 0 represents amount less than Rs. 50 lacs.
* EPS is not annualised for the quarter ended March 31, 2021, March 31, 2020 and December 31, 2020.
NOTES:
1. The above financial results have been reviewed by the Audit Committee in its meeting held on April 26, 2021 and approved by the Board of Directors in their meeting held on April 27, 2021.
2. The Board of Directors have recommended a final dividend of Rs. 4/- (200%) per equity share of Rs. 2/- each amounting to Rs. 27.98 cr. for FY 20-21. The total dividend for FY 20-21 aggregates to Rs. 5/- (250%) per equity share of Rs. 2/- each amounting to Rs. 34.98 cr. which includes one interim dividend of Rs. 1/- (50%) per equity share paid during the year. The final dividend is subject to approval by shareholders at the ensuing Annual General Meeting of the company.
3. The company has considered the possible effects that may result from Covid 19 in the preparation of these financial results including the recoverability of carrying amounts of financial and non-financial assets. In developing the assumptions relating to the possible future uncertainties in the economic conditions because of Covid 19, the company has at the date of approval of the financial results, used internal and external sources of information and expects that the carrying amount of the assets will be recovered. The impact of Covid 19 on the Company's fiancial results may differ from that estimated as at the date of approval of the same.
4. The Company has provided an amount of Rs.1.55 crores towards diminution (impairment) in carrying cost of the equity investment (for 100% equity stake acquired during the year 2015-16) in wholly owned subsidiary namely, Guangdong Symphony Keruilai Air Coolers Co. Limited, China and the same is shown as an exceptional item for the quarter and year ended March 31, 2020.
5. The Code on Wages, 2019 and Code on Social Security, 2020 (the "Codes") relating to employee compensation and post-employment benefits that received Presidential assent have not been notified. Further, the related rules for quantifying the financial impact have not been notified. The Company will assess the impact of the Codes when the rules are notified and will record any related impact in the periods the Codes becomes effective.
6. The figures for the quarter ended March 31, 2021 and March 31, 2020 are balancing figures between audited figures in respect of the full financial year and year to date figures upto the third quarter of the relevant financial year, which were subjected to limited review.
7. Segment Results
As per recognition criteria mentioned in Ind AS-108, Operating Segments, the Company has identified Air Cooling and Other Appliances Business as operating segment. However substantial portion of Corporate Funds remained invested in various financial instruments. The Company has considered Corporate Funds as a separate segment so as to provide better understanding of performance of Air Cooling and Other Appliances Business.
For Table, kindly refer Corporate Announcements on www.bseindia.com.
Secondary Segment Capital Employed:
Fixed assets used in the Company's business and liabilities contracted have not been identified with any of the reportable segments, as the fixed assets and services are used interchangeably between segments. The Company believes that it is not practical to provide secondary segment disclosures relating to Capital employed.