Rishiroop Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2018
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2018
1. The above audited financial results were reviewed by the Audit Committee of the Board on 23rd May, 2018 and approved by the Board of Director of the company at their meeting held on 23rd May, 2018.
2. Post implementation of Goods and Services Tax ('GST') in India with effect 1st July, 2017 revenue are disclosed net of GST. Revenues for the earlier periods included excise duty which is now subsumed in the GST. Revenues for the year ended 31st March 2018 includes excise duty upto 30th June 2017. Accordingly, revenues for the quarter and year ended 31 March 2018 are not comparable with those of the previous periods presented.
3. The Company has adopted Indian Accounting Standard (Ind AS) effective from April 1, 2017 Previous year quarter & nine months ended is also Ind AS complaint, but they have not been subject to limited review or audit in line with SEBI circular no. CIR/CFD/FAC/62/2016.
4. The Board of Directors, at their meeting held on 23rd May, 2018 have recommended a final dividend of Rs. 1.20 per share subject to the approval of shareholders.
5. The figures of the fourth quarter are the balancing figures between audited figures in respect of the full financial year and published year to date figures upto the third quarter of the revelant financial year. Also the figures upto the end of the quarter were only reviewed and not subjected to audit.
6. The results for the quarter and year ended 31st March, 2018 were audited by the independent Auditors of the Company. An unqualified report was issued by them thereon.
7. The company is engaged in one business segment i.e. Polymers & Compound and it is primary segment.
8. Consequent to transition from previous India GAAP to Ind AS the reconciliation of total comprehensive income is given below. In accordance with paragraph 32 of Ind AS 101 First time adoption of Ind AS (For Table, kindly refer Corporate Announcements on www.bseindia.com.)
Reconciliation of total equity as at 31st March, 2017 and 1st April, 2016(For Table, kindly refer Corporate Announcements on www.bseindia.com.)
9. Figures of the previous year / period/ quarter are regrouped/ rearranged / reclassified wherever necessary.