Rishiroop 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 audited financial results were reviewed by audit committee and taken on the record by Board of Directors at its meeting held on May 26, 2017.
2. The Statutory Auditors of the Company have conducted audit of the above financial results of the Company for the year ended March 31, 2017. An unqualified opinion has been issued by them thereon.
3. The Board of Directors of Company have recommended dividend of 10 % ( P.Y. 8 %) per Equity share of Rs. 10/- for the year ended March 31, 2017 subject to the approval of the Shareholders.
4. The figures for quarter ended March 31, 2017 and March 31, 2016 are balancing figures between Audited figures in respect of the full financial year and the year to date figures upto the third quarter of the relevant financial year.
5. The Company is engaged in one business segment i.e. Polymers & Compounds and it is primary segment.
6. During the quarter 1% OCP Shareholders exercised their option of conversion, consequence 20,63,046 nos. of 1% OCP converted into Equity Shares of r 10/- each and outstanding OCPS as on February 24, 2017 numbering 26,18,447 were converted into Redeemable Preference Shares (RPS) as per the Scheme of amalgamation.
7. Previous year figures have been re-grouped, re-cast and re-arranged wherever necessary. However dividend declared for the FY 2015-16 were adjusted in accounts whereas for the year under report i.e. FY 2016-17 the dividend declared is not recognised as liability at the balance sheet date in accordance with Companies Accounting Standard Rule, 2016.