Rishiroop Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2021
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2021
1. The above audited standalone financial results were reviewed by the Audit Committee of the Board on 21st May, 2021 and approved by the Board of Directors of the Company at their meetings held on 21st May, 2021.
2. The standalone financial results for the quarter & year ended 31st March, 2021 are audited by the Statutory Auditor of the Company, under Regulation 33 of Securities & Exchange Board of India (Listing obligation and disclosure requirements) Regulation,2015,as amended An unqualified report was issued by them thereon.
3. The Board of Directors have recommended a final dividend of Rs. 1.20 per share of face value Rs. 10/-each for the Financial year ended 31, March 2021
4. The Company has assessed the possible impact of Covid-19 on its financial statements based on the internal & external information available upto the date of approval of these financial results and concluded that no adjustments are required in these results. The management has not identified any material impact on the carrying values of assets, liabilities and provisions. The management will continue to closely monitor any changes to future economic conditions and assess their impact on operations of the Company 5. On 4th January 2021, the Company has executed Sale/Assignment/Transfer of Lease hold land & building at Plot Nos. 5807 & 5808, G1DC Industrial Estate, Ankleshwar, Gujarat- 393002 and received the consideration amount of Rs. 27.64 Crore. The profit on this transaction has been disclosed as an exceptional item in these results.
6. The Code of Social Security, 2020 ('the Code') relating to employee benefits during employment and post employment has been notified in the Official Gazette on September 29, 2020 and subsequently the draft rules were published. However, the dated on which the Code will come into effect has not been notified. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the code becomes effective.
7. The company is engaged in one business segment i.e. Polymers & Compound and it is primary segment.
8. Figures for the quarter ended March 31. 2021 and March 31, 2020 represents the difference between audited figures in respect of the full financial year and the published figures of nine months ended December 31, 2020 and December 31, 2019 respectively.
9. Figures for the previous periods have been regrouped and reclassified to conform to the classification of the current period, where necessary.