Yuken India Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018
Auditor and Management Disclosures and Notes for the quarterly results dated 31 Dec 2018
1.The above is an extract of the detailed format of Financial results for quarter and nine months ended 31 December,2018 filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing and other Disclosure Requirement) Regulations,2015. The full format of the Quarterly financial results are available on the stock exchange website www.bseindia.com and on Company's website www.yukenindia.com
2.The company primarily operates in a single reportable segment - Hydraulics.
3.The above unaudited standalone financial results of the Company for the quarter and nine months ended 31 December 2018 have been reviewed and recommended for adoption by the Audit Committee and approved by Board of Directors of the company at their respective meeting held on 02 February 2019.The statutory auditors of the Company have carried out the limited review of the above financial results.
4.Post Implementation of Goods and Services Tax(GST) with effect from 1 July 2017, revenue from operations is disclosed net of GST. Revenue from operations for the nine months ended 31 December 2017 and year ended 31 March,2018 includes excise duty up to 30 June 2017 which is now subsumed into GST. Accordingly revenue from operations for nine months ended 31 December 2018 is not comparable with nine months ended 31 December,2017.
5.Effective 1 April 2018, the Company adopted Ind AS 115 Revenue from Contracts with Customers using the cumulative catch-up transition method which is applied to contracts that were not completed as of 1 April 2018. Accordingly, the comparatives have not been retrospectively adjusted. The effect on adoption of Ind AS 115 was insignificant on the financial statements.
6.The Company had allotted 90,00,000 fully paid equity shares of face value Rs.10 each during the quarter ended 30 September 2018 pursuant to bonus issue (Three equity shares to one equity share) approved by the shareholders through e-voting and physical ballot. The bonus shares were issued by capitalization of profits transferred from general reserve.The Record date fixed by the board of directors as 14 September 2018.The earnings per share has been adjusted for previous periods presented in accordance with Ind-AS 33, Earnings per share.
7.During the quarter, the Company has received Rs.249.45 lakhs from Brigade Enterprises Limited in accordance with Joint Development Agreement.
8.Prior period figures have been regrouped/ reclassified, wherever necessary, to conform to the current periods' presentation.