Cera Sanitaryware 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
CERA SANITARYWARE LIMITED
1) The above unaudited financial results have been reviewed by the Audit Committee and then approved by the Board of Directors at their respective meetings held on January 29, 2019. These unaudited financial results have been subjected to "limited review" by the statutory auditors of the Company. The limited review report does not contain any qualification. The review report has been filed with the stock exchanges and is available on the Company's website.
2) The above unaudited financial results have been prepared in accordance with the recognition and measurement principles of the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS), as amended from time to time, prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
3) Effective, April 1, 2018 the Company has adopted Ind AS 115 “Revenue from Contracts with Customers” using the cumulative effect method. The standard is applied retrospectively only to contracts that are not completed as at the date of initial application and the comparative information is not restated in the financial results. The adoption of the standard did not have any material impact to the financial results of the Company.
4) In accordance with the requirements of Ind AS, Revenue from Operations for the period from April 1, 2018 to December 31, 2018 are net of Goods and Services Tax (GST). However, Revenue from Operations for the period from April 1, 2017 to June 30, 2017 is inclusive of excise duty and that for the period from July 1, 2017 to March 31,2018 is net of GST. This is tabulated as under:
Particulars Quarter Ended Growth
Revenue from Operations 31882.59 29087.87 9.61%
Particulars Nine Months Ended Growth
Revenue from Operations 93050.32 82115.46 @ 13.32%
@ Net of Excise duty.
5) As the Company’s business activity falls within a single segment viz. “Building Products” and the sales substantially being in the domestic market, hence the same is reflective of the disclosure requirements of Ind AS 108 – “Operating Segments”.
6) Figures of the previous period have been regrouped / reclassified wherever considered necessary.