Birla Cable Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2018

1. The Board of Directors has recommend a dividend at the rate of Re.1/- per fully paid up equity shares of face value of Rs.10/- each for the year ended 31st March, 2018. The payment of dividend is subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company.

2. The Company has adopted the Indian Accounting Standards ("Ind AS") effective from 1st April, 2017 with the date of transition being 1st April, 2016. The impact of transition has been accounted for in the opening reserves and the comparative periods results have been restated accordingly.

3. Reconciliation of Net Profit as previously reported in accordance with Indian GAAP and now being reported in accordance with Ind AS for earlier period is as under -



Rs. in lakhs

Particulars

Quarter ended Year ended

31.03.2017 31.03.2017



Net Profits/( Loss) reported under previous Indian GAAP 190.88 318.14

Adjustments on account of:-

(a) Recognition of subsidy income on systematic basis 11.53 11.53

(b) Measurement of Derivative Financial Instruments at Fair Value (1.88) 0.54

(c) Reclassification of actuarial losses on employee benefit obligation to OCI 21.81 21.81

(d) Valuation of Financial Liabilities on Amortisation cost (5.05) (11.88)

(e) Tax on above adjustments (Net) (8.15) (6.69)



Net Profit/(Loss) as per Ind AS 209.14 333.45



4. Reconciliation of Other Equity as previously reported under Indian GAAP to Ind AS for the year ended 31st March, 2017 is as under:-



(Rs.in Lacs)

Particulars

As at 31st

March,2017



Shareholder's Equity as per esrstwhile Indian GAAP 6537.12

Adjustments on account of:-

(a) Fair Value of Equity Investment through OCI 124.16

(b) Recognition of subsidy on systematic basis (57.62)

(c) Measurement of Derivative Financial Instruments at Fair Value (5.08)

(d) Valuation of Financial Liabilities on amortisation cost 15.59

(e) Deferred Tax impact on above adjustments (Net) 16.30



Shareholder's Equity as per Ind AS 6630.47



5. Post the applicability of Goods and Services Tax (GST) with effect from 1st July, 2017, Revenue from operations is required to be disclosed net of GST as prescribed under relevant Ind AS. However, Revenue from Operations for the periods upto 30th June, 2017 was reported inclusive of Excise Duty. The figures of Revenue from Operations for the quarter and year ended 31st March, 2018 are therefore not comparable with the corresponding previous periods.

6. The Company has only one reportable primary business segment i.e. Cables, based on guiding principles given in Ind AS 108 "Operating Segments" notified pursuant to Companies (Indian Accounting Standards) Rules, 2015. Accordingly, the disclosure requirements of Ind AS 108 are not applicable.

7. The figures for the last quarter ended 31st March, 2018 and 31st March, 2017 are the balancing figures between the audited figures in respect of the full financial year and year to date published unaudited figures upto the third quarter of the respective financial years.

8. Figures for the previous period are re-classified/re-arranged/re-grouped, wherever necessary, to correspond with the current period's classification/disclosure.

9. The above Financial Results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held on 24th May, 2018.