Tinplate Company of India Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018

1. The above audited results have been reviewed and recommended by the Audit Committee at its meeting held on 10th January, 2019 and thereafter approved by the Board of Directors of the Company at its meeting held on 15th January, 2019.



2. The Company’s operations are predominantly in the manufacture and sale of Electrolytic Tin Mill products. The Company is managed organizationally as a unified entity and according to the management, this is a single segment company as envisaged in Ind AS-108 - Segment Reporting notified under the Companies (Indian Accounting Standards) Rules, 2015.



3. The financial results of the Company have been prepared in accordance with the Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015.



4. Commencing quarter ended 30th September 2017, the Company had transitioned from the arrangement of converting Hot Rolled Coils (HRC) supplied by Tata Steel Limited (TSL) into Electrolytic Tinplate (ETP) and assisting TSL in selling the same to the end consumers, to purchase of HRC from TSL and / or other suppliers and manufacture and sale of ETP and other products on its own account; accordingly some of the line items for the nine month period ended 31st December, 2018 are not comparable with the corresponding one.



5. The Company has adopted IND AS 115 “Revenue from Contracts with Customers” effective 1st April, 2018 using the full retrospective method. The standard is applied to contracts that are not completed as at the date of the initial application and the comparable periods for which the results have been published above. The impact of adoption of the standard have been adjusted in the results of the current quarter and results of the comparable periods have been restated.



6. Figures for the corresponding period / previous year have been rearranged and regrouped where necessary.