Uttam Galva Steels 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 financial results were reviewed by the Audit Committee and approved at the meeting of Board of Directors held on 5th February, 2019.
2. Previous year’s figures have been regrouped / rearranged wherever necessary.
3. The Company' is in manufacturing of Steel Products and also has a Captive Power Plant, Hence it is reporting its results in single segment.
4. During the quarter, overdue rupee loans and interest amounting Rs. 4922.30 Crores has been paid by Arcclor Mittal India Private Limited to various Commercial banks, overdue foreign currency loans and interest amounting USS 136.65 Mios has been paid by Arcelor Mittal International Luxembourg, and overdue foreign currency loans and interest amounting to USS 32.39 Mios has been paid by Citibank N A, London as on 17th October, 2018.
5. Exceptional item consists of provisions against doubtful advances to vendors.