Compucom Software Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2017
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2017
1. The above financial statement complies with the applicable Accounting Standards issued by ICAI.
2. The consolidated financial results are prepared in accordance with the principles and procedures for the preparation of consolidated accounts as set out in the Accounting Standard (AS -21) issued by The Institute of Chartered Accountants of India. The financial statements of the Compucom Software Limited, its wholly owned USA - subsidiary, ITneer Inc. and its another subsidiary CSL Infomedia Pvt ltd have been consolidated after eliminating intra-group transactions.
3. Segregation of capital employed between segments (except wind power generation segment, wherein the capital employed is Rs. 1.608 lacs) is not practicable as most of the fixed assets and liabilities are not identifiable with particular segments and are used interchangeably.
4. Despite the best offorts employed by the Company, recovery of debts of Rs. 35 Cr. (approx) relating to ICT - I/II is negligible during last three years. The board has therefore decided to write off Rs. 15.80 cr out of these debts.
5. Figures of last quarter for standalone results are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the relevant financial year.
6. Previous periods / years figures have been regrouped / rearranged wherever necessary.
7. The above results have been reviewed by the Audit Committee, approved and taken on record by the Board of Directors of the Company at its meeting held on May 29, 2017.