Cosmo First Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2021

Notes:



1. The above audited financial results were reviewed by the Audit Committee and approved by the Board of Directors on 20th May 2021. The figures for the quarter ended 31st March 2021 and 31st March 2020 are the balancing figures between audited figures in respect of the full financial year and published year to date figures upto to the third quarter of years ended 31st March 2021 and 31st March 2020 respectively.



2. These financial results have been prepared in accordance with the recognition and measurement principles of applicable Indian Accounting Standards (‘Ind AS’) notified under the Companies (Indian Accounting Standards) Rules, 2015 as specified in section 133 of the Companies Act, 2013.



3. During the quarter ended 31st December 2020, the Company bought back 12.67 lakhs equity shares (6.52% of equity capital) through the "Tender Offer" route at a price of Rs. 576 per share. Consequently, the paid-up equity share capital has reduced from Rs. 19.44 crores to Rs. 18.17 crores. An amount of Rs 90.55 crores (including income tax and direct buyback costs) has been utilized from the other equity for the aforesaid buyback and capital redemption reserve account of Rs 1.27 crores (representing the nominal value of the equity shares bought back) has been created.



4. The Code on Social Security, 2020 (‘Code’) relating to employee benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and related rules are yet to be framed. The impact of the changes, if any, will be assessed and recognised post notification of the relevant provisions.



5. Figures for the previous period have been regrouped wherever required.