SNL Bearings 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
Finance Cost under the head Expenses shown as Rs. 0 lakhs, which represents amount lower than Rs.1 lakh.
1) The above results were reviewed by the Audit Committee and then approved by the Board of Directors at their respective meetings held on 30 January 2019. The statutory auditors of the Company have carried out limited review of these Unaudited Financial Results.
2) The results have been prepared in accordance with the Indian Accounting Standards (Ind AS) notified under the Companies (Ind AS) Rules, 2015 and Companies (Indian Accounting Standard) (Amendment) Rules, 2016.
3) Excise duty on sales was included under Revenue from operations and disclosed separately under Expenses upto 30 June 2017. Post implementation of Goods and Services Tax (GST) from 1 July 2017, revenue from operations is reported net of GST.
4) The Company is principally engaged in a single business segment which is "Bearings".