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Panchmahal Steel Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2021

Auditor and Management Disclosures and Notes for the quarterly results dated 31 Mar 2021

1) The results have been audited by Statutory Auditors, recommended by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on 31st, May, 2021



2) The Company is engaged in the business of manufacturing of Stainless Steel Long Products, which, in the context of Ind AS - 108 on Segment Reporting, constitutes a single reportable segment.



3) The figures for the quarter ended 31st March, 2021 and the corresponding quarter of the previous year are balancing figures between the audited figures in respect of full financial year and the published unaudited year to date figures upto the third quarter for the relevant financial year.



4) The Company has evaluated the impact of COVID-19 on its financial statements based on the internal and external information up to the date of approval of these financial statements and expects to recover the carrying amount of inventories, receivables and other assets. The Company does not foresee any material impact on liquidity and assumption of going concern.



5) The figures of previous quarter's/year's have been regrouped wherever necessary to make it comparable with the current quarter/year.