Caplin Point Laboratories 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 Company adopted Indian Accounting Standards ("Ind AS") from 1st April 2017 and accordingly these results have been prepared in accordance with the recognition and measurement principles laid down in the hid AS 34, Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting pronouncement generally accepted in India. Financial results of all the periods presented have been prepared in accordance with the recognition and measurement principles of hid AS 34.
2. Reconciliation between financial results as previously reported under Previous GAAP and Ind AS presented are as under: a. Profit Reconciliation
3. The figures for the quarter ended 31March 2018 are balancing figures between the audited figures in respect of the full financial year and the year-to-date figures upto the third quarter of the Financial Year.
4. Results for the quarter and year ended 31 March 2018 periods presented have been audited by the statutory auditors of the Company. An unqualified opinion has been issued by them thereon.
5. The financial results of the company have been reviewed by the Audit Committee of the Board and have been approved by the Board of Directors of the Company at their meeting held on 28th May 2018.
6. The Board of Directors at their meeting held on 28th May 2018, have recommended a final dividend of 100%, i.e Rs 2.00 per equity share of Rs 2/ each.
7. The Other income for the Financial Year ('FY') 2018 includes a dividend income of Rs 1139.50 lakhs from 100% foreign subsidiary in Hong Kong, as compared to NIL during the FY ended 31 March 2017. The provision for current tax includes the tax liability under the provisions of Income Tax Act, 1961 on such dividend income.
8. The Company operates exclusively in one reportable business segment i.e., "Pharmaceuticals formulations". There is no exceptional and/or extra-ordinary item.
9. During the three months period ended 31st March 2018, the Company had allotted 26,750 equity shares of Rs 21- each under the Employee Stock Option Scheme 2015 and the total number of equity shares of the Company stands at 7,56,03,500 as on 31st March 2018.
9. Prior year / period figures are regrouped / rearranged wherever necessary.