Narayana Hrudayalaya 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. As there is no column for MAT credit entitlement and the full current tax is allowed as Mat Credit Entitlement for third Quarter and period ended 31st December 2018, both ( Current Tax and Mat Credit Entitlement) has been netted off and presented here.
Below is the detailed presentation
particulars Quarter ended 31 December 2018 Nine month period ended 31 Dec 2018
Current Tax 67.68 108.61
Mat Credit Entitlement (67.86) (108.61)
2. As per PDF attached.
1. The statement of standalone financial results ('the Statement') of Narayana Hrudayalaya Limited ('the Company') for the quarter and nine months ended 31 December 2018 has been reviewed by the Audit, Risk and Compliance Committee and approved by the Board of Directors on 31 January 2019. The statement has been subjected to limited review by Deloitte Haskins & Sells LLP, the statutory auditor of the Company. The report of the statutory auditor is unqualified.
2. The Statement has been prepared in accordance with Indian Accounting Standards ('Ind AS') prescribed under section 133 of the Companies Act, 2013 read with the relevant rules thereunder and in terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular dated 5 July 2016.
3. The Company has transferred 100% of its stake in its wholly owned subsidiary Narayana Holding Private Limited (NHPL) to Narayana Cayman Holding Limited, another wholly owned subsidiary as on 6 June 2018. Due to this transaction NHPL becomes a step down subsidiary of the Company. The Company has recognised exceptional loss of Rs. 4.49 million which is on account of this sale.
Also, for the year ended 31 March 2018 exceptional item represents loss of Rs. 11.58 million on impairment of investment in its associate "Trimedx India Private Limited".
4. The Company's operating Segment is 'Medical and Healthcare Services'. Since the Company has a single operating segment, disclosures pertaining to segments as per Regulation 33(1)(e) read with clause (L) of Pan A of Schedule IV of the SEBI Regulations is not applicable.
5. The Company has adopted the new revenue accounting standard 'Ind AS 115 - Revenue from Contracts with Customers' with effect from 1 April 2018. Based on the assessment earned out, there is no material impact consequent to the adoption of new standard.
6. The Company has assessed the impact of amendment to Appendix B to 'Ind AS 21 - The Effects of Changes in Foreign Exchange Rates', effective from 1 April 2018, in respect of advances received and paid in foreign currency, and noted no material impact.