Precision Electronics Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2019
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2019
1. The above results have been approved by the Audit Committee and approved by the Board of Directors at their meeting held on May 24, 2019.
2. These results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules 2015 (Ind AS) Prescribed under Section 133 of the companies Act 2013 (Act) and other recognized accounting practices and polices so the extent applicable Beginning April i 2017 the Company has for the first time adopted Ind AS with the transition date of April 1 2016 The transition was carried out from accounting standards as prescribed under section 133 of the act read with rule 7 of the companies (Accounts) Rules 2014 (Indian GAAP) The impact of transition has been accounted for in the opening reserve and comparative periods have been restated accordingly.
3. Figures of the quarter ended March 31, 2019 and March 31 2018 are balancing figures between the audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the respective financial year.
4. Figures of the previous periods have been regrouped wherever considered necessary to confirm with the current period figures.
5. The Certificate Obtained from the Managing Director and CFO in respect of above results in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been placed before Board of Directors.