Simmonds Marshall 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 were reviewed by Audit Committee and approved by the Board of Directors at its meeting held on May 30, 2018.
2. (a) The Company adopted Indian Accounting Standards (IND AS) effective 1st April, 2017 (transition date being 1st April, 2016} and accordingly, the financial results for above quarters and year ended have been prepared in accordance with the recognition and measurement principles laid down in the IND AS prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and the other accounting principles generally accepted in India.
(b) Reconciliation of results between previously reported (referred to as "Previous GAAP") and IND AS for the quarter and year ended March 31, 2017 is given:(For Table, kindly refer Corporate Announcements on www.bseindia.com.)
3. The Company has only single reportable business segment i.e. Manufacturing of Industrial Fastners' in terms of requirements of IND AS 108 and has its operations I assets located in India.
4. In terms of SEBI Circular CIR/CFD/CMD/56/20 dated 27.05.2016, the Company hereby declares that the Auditors have issued Audit Reports with unmodified opinion on annual audited financial results for the year ended March 31, 2018.
5. The figures for the quarter ended March 31, 2018 and March 31, 2017 are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures up to the third quarter for the relevant financial year which were subjected to limited review by the statutory auditors.
6. The Board of Directors recommend a dividend of Rs. 0.70 per equity share of Rs. 2 each for the F.Y.2017-18 subject to approval of the shareholder in the ensuing Annual General Meeting.
7. Previous quarter/year's figures have been regrouped to conform to current years presentation.