BSL 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 financial statements of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 as amended by the Companies (Indian Accounting Standards) Amendment Rules, 2016 prescribed under section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
2. The above financial results were reviewed by the Audit Committee and thereafter were taken on record by the Board of Directors at their meeting held on 7th June, 2021. The Statutory Auditors have audited the result for the quarter and year ended 31st March 2021 and have expressed an unmodified opinion.
3. The figures of the previous year / quarter have been regrouped / recast wherever necessary.
4. The Figures of the quarter ended 31st March, 2021 and 31st March, 2020 are the balancing figures between the audited figures in respect to the full financial year and the published figures of the nine months ended 31st December, 2020 and 31st December, 2019, respectively which were subject to Limited Review by the Statutory Auditors.
5. On account of COVID-19 pandemic and on the basis of current assessment and performance of the company, the company expects to recover the carrying amount of assets comprising property, plant and equipment, inventories and trade receivables and no material adjustment is required in the financial results. The results for the current quarter support this assessment and we expect this momentum to continue. The impact or any events and development occurring after the balance sheet date on the financial results for the year ended March. 2021 may differ from that estimated as at the date or approval or these financial results and will be recognized prospective. The Company is committed to closely monitor any material changes arising out of prevailing economic conditions and impac1t of the same on the business of the Company.