Bombay Cycle & Motor Agency 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 unaudited financial results as per regulation 33 of SEBI (Listing Obligations and Discloser Requirements) Regulations, 2015 for the quarter & nine months ended on 31st December, 2018 were reviewed by the Audit Committee at its meeting held on 5th February, 2019 and approved & taken on record by the Board of Directors at its meeting held on 5th February, 2019.
2) This Statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind-AS), prescribed under Section 133, of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
3) The Statutory Auditors of the Company have carried out a Limited Review of the unaudited financial results for the quarter & nine months ended 31st Dec, 2018.
4) The Company has identified two reportable segments, Auto Division & Hospitality Division in accordance with the requirements of Ind AS 108.
5) Effective April 1, 2018, the Company has adopted Ind AS 115, Revenue from Contracts with customers (which replaces the earlier revenue recognition standards). The adoption of the standard does not have any material impact on the financial results of the Company.
6) Previous period figures have been regrouped/rearranged where ever necessary, to correspond to those of the current period.