BEML 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 as duly reviewed and recommended by Audit Committee were approved by the Board of Directors at the Meeting held on 02.02.2019.
2. Revenue from operations is considered after deducting the value of consortium supplies from the Gross Revenue from Operations as indicated below:(For Table, kindly refer Corporate Announcements on www.bseindia.com.)
3. Post applicability of GST w.e.f. 01.07.2017, total income from operations for the period ended December 31, 2018 is disclosed net of GST. Previous period and the year end prescribed in the result includes excise duty.
4. Effective April 1, 2018, the company has adopted IND AS 115, "Revenue from contracts with customers". The standard is applied retrospectively only to contracts that are not completed as at the date of initial application. The adoption of the standard did not have any material Impact on the financial statement of the company.
5. The Limited Review Report issued by the Auditors on the Unaudited results, as duly placed before the aforesaid meeting of the Board, is enclosed.
6. The previous period's figures have been regrouped and reclassified wherever necessary to make them comparable with the current period's figures.
7. Exemption has been granted by SEBI from publishing segment-wise information.
8. Provisions in respect of employee retirement benefits are estimated considering actual expenditure of 2017-18 and likely increases.