Vimta Labs Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2018

Notes to the results

1. The above financial results for the quarter and year ended 31 March 2018 have been reviewed by the Audit Committee of the Board of Directors and taken on record at the meeting of Board of Directors held on 11 May 2018. The results for the quarter and year ended 31 March 2018 have been audited by the statutory auditors. The statutory auditors have expressed an unmodified audit opinion on the results.

2. Effective 1 April 2017, the Company has adopted Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with rule 3 of the Companies (Accounting Standards) Rules, 2015 and Securities Exchange Board of India (SEBI) circular no. CIR/CFD/FAC/62/2016 dated 5 July 2016. Accordingly, the aforesaid financial results have been prepared in accordance with Ind AS 101. Consequently, the financial results for the above comparable periods have been restated to comply with Ind AS.

3. The figures for the last quarter are the balancing figures between the audited figures in respect of full financial year and the published year to date figures upto the third quarter of the relevant financial year.

4. Reconciliation between net profit reported in accordance with Indian GAAP (previous GAAP) and Ind AS for the quarter and year ended 31 March 2017 is as follows:



Particulars Quarter ended

31.03.2017 Year ended 31.03.2017

Net profit after tax reported as per previous GAAP 24.04 100.44

Re-measurement of actuarial loss on defined benefit plan, net of tax 1.42 5.48

Net profit after tax for the period / year as per Ind AS 25.46 105.92

Other comprehensive income

Re-measurement of actuarial loss on defined benefit plan, net of tax (1.42) (5.48)

Total comprehensive income for the period / year as per Ind AS 24.04 100.44


5. Reconciliation of total equity as at 31 March 2017:

(All amounts in Rs. Millions )

As at

Particulars 31.03.2017

Equity under previous GAAP 1,361.48

Adjustments -

Equity under Ind AS 1,361.48


6. The management has assessed the identification of reportable segments in accordance with the requirements of Ind AS-108, Operating Segment and believes that the Company has only one reportable segment namely “Contract Research and Testing Services”

7. The Board of Directors of the Company have recommended a dividend of Rs.2/- per equity share of Rs.2/-each for the financial year 2017-18, subject to approval of the share holders at the ensuing Annual General Meeting.