Calcom Vision 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 results are reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 30th May, 2018. The Statutory Auditors of the Company have conducted audit of the financial results for the quarter and Year ended March 31st, 2018.
2. The Figures for the quarter ended 31st March, 2018 and 31st March 2017 are the balance figures between the audited figures in respect to the full financial year and the published figures for the nine months ended-on 31st December, 2017 and 31st December, 2016 respectively, which were subject to limited review.
3 The Company has adopted Indian Accounting Standards (Ind AS) notified under Companies (Indian Accounting Standard) Rules, 2015 as amended by Companies (Indian Accounting Standard) Rules, 2016 effective from 1st April, 2017 with transition date as 1st April 2016. The Result for the Quarter and Year Ended 31st March, 2017 have been re-stated to Ind AS compliant.
4. This Statement is as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016.
5. According to the requirements of Ind AS and SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, revenue for the period upto 30th June, 2017 are inclusive of excise duty in the revenue figure for year ended 31st March 2018. The Government of India had implemented Goods and Service Tax ("GST) from 1 July 2017 replacing excise duty, service tax and other indirect taxes. As per Ind AS 18, w.e.f 1st July 2017, the revenues are reported net of GST. Had the previously reported revenue shown net of excise duty, comparative revenue of the Company would have been as follows:(For Table, kindly refer Corporate Announcements on www.bseindia.com.)
6. Reconciliation between financial results as previously reported in accordance with the Accounting Standard framework (reffered to as "Previous GAAP") and hid AS for the quarter presented are as under.(For Table, kindly refer Corporate Announcements on www.bseindia.com.)
7. The Company had acquired Lighting Electronics business from Calcom Electronics Ltd on 31.03.2017. The Current quarter and Year End figures comprise revenues and expenses post acquisition and accordingly not comparable with corresponding quarter and previous year's figures to that extent.
8. The Company is engaged only in one electronic segment & there is no other segment to report. Hence segment reporting under Ind AS 108 is not required.
9. The company has coverted balance 72934 nos. of Zero-Coupon Convertible bonds into 2431 155 nos. of Equity Share of face value of Rs. 10/-each fully paid up, at a premium of Rs.20/- each in accordance with Rehabilitation Scheme approved by Hon'ble Board for Industrial and Financial Reconstruction (BIFR) vide Order dated 08.07.2014 through resolution passed by circulation dated 2nd April, 2018.
10. Figures for the previous period have been re-grouped / re-arranged wherever necessary to make them comparable with current period.
12. The Company is not having any taxable profits, so no provision has been made for deferred tax as per Ind AS-12.
13. Reconciliation of Total Equity between Ind AS and previous reported as GAAP are as under:(For Table, kindly refer Corporate Announcements on www.bseindia.com.)