Tusaldah Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2021

Notes:-

1). The above results have been reviewed and recommended by the Audit Committee in its meeting held on June 24, 2021. The same have been approved and taken on record by the Board of Directors of the Company in its meeting held on June 24, 2021. The Statutory Auditor of the company has expressed an un-modified opinion on these financial results.



2).These financial results have been prepared in accordance with the recognition and measurement principles of applicable Indian Accounting Standards ("IND AS") notified under the Companies (Indian Accounting Standards) Rules,2015 as specified in section 133 of the Companies Act,2013.



3). Previous year/period figures have been recasted and regrouped wherever necessary.



4). The Chief Financial Officer and Whole-time Director of the Company have certified in terms of Regulation 33(2)(a) of SEBI (LODR) Regulations,2015 that the above financial results do not contain any false or misleading statement or figures and do not omit any material fact which may make the statement or figures contained therein misleading.



"5) Due to the outbreak of COVID-19 globally and in India, the company has made initial assessment of likely adverse impact on the economic environment in general and financial risks on account of COVID-19. The company is engaged in the manufacturing and trading of Knitted socks, head band and wrist band and trading in yarn and commodities. Despite the industry has effected due to the COVID-19 Outbreak, the company’s management is of the view that it will not affect the going concern of the company, since the company has established reputation in the country and can serve the market. However, for the short term period the revenue is expected to be lower and accordingly, the company has to operate at such lower profits for some time.



The management has considered the possible effects that may result from the pandemic related to COVID-19 on carrying amount of trade receivables and inventories. In developing the assumption, estimates relating to the uncertainties at the balance sheet date in relation to the recoverable amount of these are set. The management has considered the global economic conditions prevailing at the date of approval of these financial results and has used the internal and external sources of information to the extent determined by it. The actual outcome of these assumptions and estimates may vary in future due to the impact of the pandemic."