Axis Solutions 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 audited financial results as reviewed by the Audit Committee have been approved by the Board of Directors at their meeting held on May 30, 2018.
2. The company adopted Indian Accounting Standards (Ind AS) from April 1, 2017 as prescribed under Section 133 of the Companies Act. 2013 read with the relevant rules issued thereunder and the generally accepted accounting principles in India. The date of transition to Ind AS Is April 1, 2017, The financial results of the previous year ended March 31, 2017 are Ind AS Compliant. Considering the transactions undertaken by the company there has been no material impact on conversion into Ind AS from IGAAP. There are no items of reconciliation.
3. Further, there are no items of reconciliation with regards to Equity as per Previous Indian GAAP and Equity as per Ind AS.
4. The company has not undertaken the actuarial valuation as per IND AS 19. Hence the impact of the same on the financial statements have not been ascertained.
5. The figures of last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the Third quarter of the current financial year.
6. "Segmental Reporting" as per business segment as per Indian Accounting Standard (Ind-AS)-108 is given: (For Table, kindly refer Corporate Announcements on www.bseindia.com.)
7. The Ind-As compliant corresponding figures in the previous year have not been subject to review/audit. However, the company's management has exercised necessary due diligence to ensure that such financial results provide a true and fair view of its affairs.
9. Comparative figures have been rearranged/regrouped wherever necessary.