Aarti Industries 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 above results for the quarter and nine months ended 31st December, 2018 have been reviewed by the Audit Committee in their meeting held on 31st January, 2019 and approved by the Board of Directors in their meeting held on 3rd February, 2019.
2. Company has entered into forward contracts to hedge its export contracts. Cancellation & Mark to market gain/(loss) for such contracts as at the end of reporting period are recognised in these statements. Cancellation & Mark to market gain/(loss) in respect of near term contracts amounting to Rs. 479 Lakhs is appropriately dealt in the above P&L statement, while mark to market gain in respect of long term contracts amounting to Rs. 2,912 Lakhs are adjusted under Other Comprehensive Income. The component adjusted under Other Comprehensive Income will be appropriately treated in P&L when the underlying cash-flow impact accrues.
3. Company had further recognised revaluation gain/(loss) to the extent of Rs. 612 lakhs in respect of its long term borrowings (ECBs) as at quarter ending 31st December, 2018 and included the same in its Finance Costs appearing above.
4. The Listed Non-Convertible Debenture of the Company aggregating to Rs. 12,000 Lakhs as on 31st December, 2018 are secured by way of first pari passu charge on the Movable Fixed Assets of the Company at its permises located at Vapi, Jhagadia, Silvassa, Tarapur and Pithampur and the assets cover thereof exceeds 100% of the principal amount of the said debentures.
5. The Board of Directors have declared Interim Dividend of Rs. 4/- per Equity Share of Rs. 5/- each (80%) amounting to Rs.32,52,00,000/- and 13th February, 2019 has been fixed as record date for the payment of the said Interim Dividend.
6. Company retained its domestic credit ratings of AA- from CRISIL and India Ratings.
7.Figures for the previous period have been regrouped or rearranged wherever necessary.
8. The aforesaid Audited Financial Results will be uploaded on the Company's website www.aarti-industries.com and will also be available on the website of BSE Limited www.bseindia.com and the National Stock Exchange of India Limited www.nseindia.com for the benefit of the shareholders and investors.