Simplex Realty Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2021
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2021
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 31st May, 2021.
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.
3. 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 dale figures upto the third quarter of the respective financial year.
4. The Company, as at the date of approval of these financial results has considered internal and external sources of information, in assessing the possible effects that may result from the global health pandemic relating to COVID-19on the carrying amounts of loans, investments, inventories and other assets. As on the date of approval of these financial results, the Company has concluded lhat Ihe impact of COVID -19 is not material based on these estimates and expects to recover the carrying amount of these assets. Due to the nature of the pandemic, the Company will continue to monitor any changes to the future economic conditions.
5. The statutory auditors have expressed an unqualified audit opinion on the audited standalone financial results for the quarter and year ended 31 st March, 2021.
6. The Code on Social Security, 2020 ('the code') has been notified in the Official Gazette on September 29,2020. However, the dale on which the code will come into effect has not been notified. Impact, if any, of the changes will be assessed and accounted in the period in which the said Code becomes effective.
7. The Company has only one business segment viz real estate development, disclosure under Ind AS 108 on "Operating Segments" is not applicable.
8. Figures of the previous period/ year have been regrouped wherever necessary to conform to the current period/ year presentation.