Elnet Technologies 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
Notes:
1.The audited financial results have been reviewed by the Audit committee and approved by the board of directors at their respective meeting, held on 23 June 2021. The financial results are prepared in accordance with Indian Accounting Standards (IND AS) as prescribed under Section 133 of the Companies Act, 2013.
2.The Company is engaged in the sole activity of carrying on the business of "Promotion and Maintenance of Software Technology Park" and therefore, has only one reportable segment in accordance with IND AS 108 'Operating Segments". Hence, no separate segment reporting is applicable to the Company.
3.The COVID-19 outbreak has developed rapidly in India and across the globe. Measures taken by the Government to contain the virus, like lockdowns, travel bans and other measures, have affected economic activity and has caused disruption to regular business operations of the company.
The management has made a detailed assessment of its liquidity position for the next year and recoverability and carrying value of the assets comprising of property plant and equipment, trade receivables and other financial and non-financial assets. Based on the current indicators of future economic conditions, the Company expects to recover the carrying amount of these assets. The situation is changing rapidly giving rise to inherent uncertainty around the extent and timing of the potential future impact of COVID-19 pandemic which may be different from that estimated as at the date of approval of these financial statements.
4.Figures for the quarter ended 31 March 2021 and 31 March 2020 are the balancing figures between the audited figures in respect of the full financial year ended 31 March 2021 and 31 March 2020 respectively and the published year to date figures for nine months ended 31 December 2020 and 31 December 2019 respectively.
5.'The Board has recommended today, a dividend of Rs.1.4 per share (14 %) subject to the approval of the shareholders at the ensuing 30th Annual General Meeting.
6.Previous year/period's figures have been regrouped/recast, wherever necessary, to confirm to the classification of the current year/period's classification