Emerald Leisures Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2021

Notes:

1. The above Financial Results for the Quarter and Year ended 31st March, 2021 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at its Meeting held on Wednesday, the 30th day of June, 2021.



2. The financial results of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under the Companies (Accounting Standards) Rules 2015 as amended by the Companies (Indian Accounting Standards) (Amendment) Rules, 2016.



3. As the company operates in a single business segment, viz. Hospitality Industry, in context of Ind AS- 108 “Operating Segments”. Therefore, a disclosure of segment information is not applicable.



4. Deferred Tax impact not calculated in view of accumulated losses.



5. Figures for the previous period have been regrouped/re-arranged, wherever necessary.



6. The figures of the last quarter are the balancing figures between audited figures in respect of the full financial year up to March 31, 2021/ March 31, 2020 and the unaudited published year-to-date figures up to December 31, 2020/ December 31, 2019, being the date of the end of the third quarter of the financial year which were subject to limited review.



7. The business has been severely impacted during the period on account of COVID-19 and softer revenues due to the lockdown. With unlocking of restriction, Company’s operations have been partially started as per guidelines issued by both the Governments and Local authorities and business is expected to gradually improve over a period of time. The company is actively exploring possibilities of generating additional revenue from alternate sources in order to improve its financial position.

The Company has assessed the possible impact of COVID-19 in preparation of the standalone financial results, including but not limited to its assessment of liquidity and going concern assumption, recoverable values of its financial and non-financial assets and impact on revenues and costs. The Company has considered internal and external sources of information and based on current estimates, expects to recover the carrying amount of these assets. The impact of Covid-19 may be more severe from that estimated as at the date of approval of these standalone financial results and the Company will continue to closely monitor any material changes occurring due to future business & overall economic conditions

The management has secured additional debt financing under Emergency credit in order to prevent disruption of the operating cash flows and to enable the Company meet its debts and obligations as they fall due. Accordingly, the financial results of the Company have been prepared on a going concern basis.



8. The Audited Financial Results for the Quarter and Year ended 31st March, 2021 would be uploaded and available for viewing in the Company’s website www.apteindia.com and also on the website of BSE Limited www.bseindia.com