Maximaa Systems Ltd. - Quarterly/Annual Result Disclosures and Notes dated 30 Jun 2020
Auditor and Management Disclosures and Notes for the quarterly results dated 30 Jun 2020
Since the Storage Division of the Company has been sealed by the bank, the unaudited standalone financial results for the quarter ended 30.06.2020 are based on whatever data is available.
1. The Un-Audited Standalone Financial Results of the Company for the Quarter ended 30th June, 31020, which have been reviewed toy the Audit Committee and approved toy the Board of Directors at their meeting held on 15th September, 2020. Statutory Auditor of the Company have carried out a limited review of the aforesaid standalone results for the quarter ended 30th June, 2020.
2. Un-Audited Standalone Financial Results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under section 133 of the companies Act, 2013 and other Recognized Accounting Practices and policies as amended from time to time.
3. The Company operates in Multi Segments i.e. Storage Systems and Pharma.
4. Effective April 1, 2019, The Company has adopted Ind AS 116 - Leases and applied it to all lease contracts existing on April 1, 2019 using the modified retrospective method.
5. Comparative figures have been regrouped / reclassified to conform to the current period's presentation
6. Since the storage unit of the company has been sealed by Bank, the aforesaid financial results are based on whatever data is available.