Simplex Realty Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2018
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2018
1. The above results of the Company have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 14th May. 2018.
2. The financial results are in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with rules made thereunder and other recognised accounting practices and policies to the extent applicable. The Company has adopted Ind AS effective from 1st April, 2017 with a transition dale of 1st April, 2016.
3. During the quarter, the Company paid Rs. 655.58 lakhs to the Collector of Mumbai towards the demand of premium for change of user from industrial to residential of the leasehold land, which has been developed after obtaining necessary approvals from the concerned authorities. The amount paid has been shown as an exceptional item.
4. Reconciliation of Net Profit/(Loss) for the quarter and year ended 31st March, 2017 reported in accordance with the Indian GAAP to total comprehensive income in accordance with Ind AS is given below:(For Table, kindly refer Corporate Announcements on www.bseindia.com.)
5. Reconciliation of Equity as on March 31, 2017 reported under the Indian GAAP to Ind AS.(For Table, kindly refer Corporate Announcements on www.bseindia.com.)
6. Figures of the previous period/ year have been regrouped wherever necessary to conform to the current period/ year presentation.
7. The figures of the last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the respective financial year.
8. The Company has only one business segment, disclosure under Ind AS 108 on "Segment Reporting' issued by the ICAI is not applicable.