Whirlpool of India 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 or Whirlpool of India Limited ("The Company") have been prepared In accordance with Indian Accounting standards - Ind AS 34 on "Interim Financial Reporting" as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standard) Rules 2015 and SEBI Circular No. CIR/CFD/FAC/62/2016 dated 5 July 2016.
2. The above unaudited financial results for the quarter and Nine months ended 31 December, 2018. have been reviewed by the Audit Committee and taken on record by the Board of Directors of the company in their meeting held on 04 February 2019. The Statutory Auditors have conducted a "Limited Review of these results in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
3. According to the requirements of Ind AS and SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. revenue of Nine months ended 31 December 2017 and year ending 31 March 2018 were reported inclusive of excise duty. The Government of India had Implemented Goods and Service Tax ("GST") from 01 July 2017 replacing excise duty, service tax and various other indirect taxes. As per Ind AS 115, the revenue for the period 01 July 2017 to 31 March 2018, Nine months ended 31 December 2018 and quarter ended 31 December 2018, 30 September 2018 and 31 December 2017. are reported net of GST. Had the previously reported revenue been disclosed net of excise duty, comparative revenue would be as follows:
4. The Company's operations predominantly comprise only one reportable segment i.e. Home Appliances. The above figures reflect the results of this segment as per Indian Accounting Standards - Ind AS 108 on "Operating Segments".
5. The certificate obtained from the Managing Director and CFO in respect of above results in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been placed before the Board of Directors.