Thyrocare Technologies Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2017
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2017
1. The above audited annual financial results of the company were reviewed and recommended by the Audit Committee on May 9th, 2017 and subsequently approved by the Board of Directors at its meeting held on May 9th, 2017.
2. The Company completed Initial Public Offer through an offer for sale by the Selling shareholders, ('the Offer') of 10,744,708 equity shares of Rs. 10/- each at a price of Rs. 446/-. The equity shares of the Company got listed on NSE and BSE on May 9th, 2016.
3. The figures for the quarter ended March 31th, 2017 are balancing figures between the audited figures in respect of the full financial year and the year-to-date figures upto the third quarter ended December 31th, 2016, which were subjected to limited review. The figures for the quarter ended March 31th, 2016 are balancing figures between the audited figures in respect of the full financial year and the year-to-date figures upto the third quarter ended December 31th, 2015, prepared by the management which have not been subjected to an audit or review.
4. In accordance with Accounting Standard 17 ’Segment Reporting', segment information has been given in the consolidated financial results of the Company.
5. The Board of Directors have recommended final dividend of Rs 5/- (Rupees Five only) per equity share of the face value of Rs 10 each for the financial year ended March 31th, 2017. The company had declared interim dividend of Rs. 5 per equity share (50% on the face value of Rs. 10/- each) for the financial year 2016-2017. The total dividend for the year including the final dividend (subject to the approval of the shareholders at the ensuing Annual General Meeting) will be Rs. 10/- (Rupees Ten only) per equity share.
6. Pursuant to the IPO, Agalia Private Limited (‘ APL’ or the selling shareholder) has divested part of its share-holding in' the Company. At the instance of APL, the Company has entered into contracts for advertisements in various media with the intention to promote the ‘Thyrocare’ brand. Since these contracts aggregating Rs 304.85 million were entered into at the specific instance of APL, APL has agreed to reimburse the Company in respect of payments made towards these contracts. During the quarter and year ended March 31 2017, the Company has incurred advertising costs aggregating to Rs. 41.32 million and Rs 283.08 million respectively, which has been reimbursed by APL. Considering the nature and size of the transactions, both the expenses incurred as well as the amount reimbursed by APL have been disclosed as an exceptional item with net impact of Rs. Nil.
7. The Company, pursuant to an agreement for sale, sold the cyclotron division on March 28th, 2015 on a slump sale basis. The profit aggregating to Rs 17.79 million has been disclosed as an exceptional item for the year ended March 31, 2015. The agreement was subsequently modified during the previous year with reference to transfer of leasehold land and building appurtenent their to and accordingly additional profit arising therefrom aggregating to Rs 2.98 million has been recognised as an exceptional item for the previous year ended March 31st, 2016.
8. Previous years' figures have been regrouped/ reclassified wherever required, to make them comparable with the figure for the current periods.