Calcom Vision 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 Results have been prepared in accordance with Ind AS notified under the Companies (Indian Accounting Standard) Rules, 2015 as amended.
2. The above results are reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 28th May, 2021. The Statutory Auditors of the Company have conducted Statutory Audit of the financial results for the quarter and Year ended March 31, 2021.
3. **The Figures for the quarter ended 31st March, 2021 and 31st March 2020 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, 2020 and 31st December, 2019 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 2020-21, 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 Company has revalued its leasehold land and building on 31st March 2021 by Rs. 3040.27 Lacs. Consequent to the revaluation accumulated impairment loss of Rs.7.64 Lacs is reversed and for balance Rs. 3032.63 Lacs revaluation surplus has been created as other equity.
6. The Covid-19 pandemic has already resulted in economic slowdown throughout the world including India. The operation of the company has also been significantly impacted during this pandemic period, particularly during the last quarter of FY 19-20 and 1st quarter of FY 20-21. The impact assessment of Covid-19 is a continuing process given the uncertainty associated with its nature and duration. The Company will continue to closely monitor any material changes to future economic conditions.
7. The Code on Social Security, 2020 (the Code) relating to employees benefits during employment and post-employment has been enacted, which would impact the contribution made by the company towards Provident Fund and Gratuity. The effective date from which the changes are applicable are yet to be notified and rules are to be framed. The company will assess the impact in its financial results in the period in which code becomes effective and rules relating thereto are published.
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. Figures for the previous period have been re-grouped / re-arranged wherever necessary to make them comparable with current period.