VXL Instruments 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 financial results for the 3 months and year ended 31st March, 2018 as recommended by the Audit Committee were approved by the Board of Directors in their meeting held on 30th May, 2018.
2. These financial results have been prepared in accordance with the Indian Accounting Standard (Ind AS) prescribed under Section 133 of the Companies Act 2013, read with the relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 and SEBI Circular dated July 5, 2016.
3. The financial results for the quarter and financial year ended March 31, 2017 have been restated to the Ind AS compliant but have not been subject to limited review. However, the companies management has exercised necessary due diligence to ensure that such financial results provide true and fair view of its affairs. The profit reconciliation is given below:(For Table, kindly refer Corporate Announcements on www.bseindia.com.)
4. The comparative audited IGAAP standalone financial results of the Company for the year & quarter ended 31st March, 2017 were audited by lshwar & Gopal Chartered Accountants , who vide their audit report dated 27th May, 2017, expressed unmodified opinion on the same.
5. Research and development expenses amounting to Rs. 254 lakhs has been recognized under Intangible Assets Under development & has to be amortized over the useful life of the project i.e. 5 years.
6. Previous period figures regrouped, wherever necessary.