Cigniti Technologies Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2021
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2021
1. The above statement of audited standalone financial results of Cigniti Technologies Limited ("die Company"), which have been prepared in accordance with die Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 ("the Act") read with relevant rules issued thereunder, other accounting principles generally accepted in India and guidelines issued by die Securities and Exchange Board of India ("SEBI") were reviewed and recommended by the Audit Committee and thereafter approved at the meeting of die Board of Directors of the Company held on April 29, 2021. The Statutory Auditor have expressed an unmodified audit opinion on die standalone financial results.
2. The figures of die quarters ended March are die balancing figures between audited figures in respect of full financial year upto March and the unaudited published year to date figures upto December of each year, being die date of die end of die third quarter of die respective financial years which were subjected to limited review.
3. Based on the internal reporting provided to the Chief Operating Decision Maker, die standalone financial results relates to "Software testing services" as die only reportable primary segment of die Company.
4. The Company has allotted 125,000 and 173,750 equity shares of Rs. 10/- each during die quarter and year ended March 31, 2021 respectively, pursuant to exercise of options under employee stock option schemes and got the same listed at BSE & NSE.
5. The Board of Directors at their meeting held on April 29, 2021 declared final dividend of Rs. 2.50/- per share on face value of Rs. 10/- each, total aggregating to Rs.700.50 lakhs.
6. The Company has considered internal and external information upto the date of approval of diese standalone financial results in assessing the recoverability of assets including trade receivables, unbilled receivables and investments, based on which it expects to recover die carrying amount of diese assets. The eventual outcome of impact of the global health pandemic may be different from those estimated as on the date of approval of those standalone financial results.
8. The code of Social Security, 2020 ('Code') relating to employee benefits during employment and post- employment received Presidential assent in September 2020 and its effective date is yet to be notified. The Company will assess and record the impact of Code, once its effective.
9. Standalone audited statement of cash flows are attached in Annexure - 2B.
10. Previous period figures have been regrouped/reclassified wherever necessary to conform to the current period classification.