Calcom Vision Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2020
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2020
1. The Results have been prepared in accordance with Ind AS notified under the Companies (Indian Accounting Standard) Rules. 2015 as ammended.
2. The above results are reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 28th July, 2020. The Statutory Auditors of the Company have conducted Statutory Audit of the financial results for the quarter and Year ended March 31, 2020.
3. The Figures for the quarter ended 31st March, 2020 and 31st March 2019 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, 2019 and 31st December, 2018 respectively, which were subject to limited review.
4. The Company is not having any taxable profits as per the provision of Income Tax Act, 1961 during the financial year 2019-20, So no provision has been made for current tax but due to timing differences and availability of adjustable brought forward losses, the company have recognized deferred tax as per Ind AS-12.
5. The Covid-19 Pandamie has already resulted in economic slow down throughout the world including India. The Operations of the company have also been significantly impacted including complete shut down of its manufacturing plant and offices for almost 2 months following nationwide Lockdown by Government of India. However the impact assessment of Covid-19 is a continuing process given the uncertainity associated with its nature and duration, and the actual impact on these financial statement may differ from the estimated due to unforeseen circumstances. The Company will continue to closly monitor any material changes to future economic conditions.
6. The Company has adopted Ind AS-116 " Leases" effective from Ist April, 2019 and applied the standard to its Lease with retrospectively, The figures for the previous yeur has nol been re-stated accordingly. The Standard docs not have any material impact on the profitablilty and earnings of the company for the yeur and quarter ended 31st March, 20.
7. 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.
8. Figures for the previous period have been re-grouped / re-arranged wherever necessary to make them comparable with current period.