Adinath Exim Resources Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018
Auditor and Management Disclosures and Notes for the quarterly results dated 31 Dec 2018
1.The above un-audited financial results were reviewed by Audit Committee and approved by the Board of Directors at their meeting held on February 5, 2019. The Statutory auditors of the compay have carried out a "Limited Review" of the above results as per Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015 and the related report is being submitted to the concerned stock exchange. As the Company is a NBFC having net worth below Rs. 500 Crore as at March 31, 2018, Indian Accounting Standard (Ind AS) as prescribed u/s 133 of Companies Act, 2013 are not applicable to the Companny, hence these unaudited financials statements have been prepared as per generally accepted accounting principles in India (Indian GAAP) including Accounting Standards.
2. Existing warrant holders of the company had applied for conversion of warrants into equity shares on 5th December, 2018. Consequently, the Share Allotment Committee of the company has made allottment of 2,15,000 equity shares of Rs. 10 each at an issue price of Rs. 26 per share (including premium of Rs. 16 per share) on 6th December, 2018 .
3. The corresponding figures of the previous year/quarters have been regrouped/ rearranged wherever necessary to make them comparable.
4. The Company's business activity falls within a single business segment i.e. Non-Banking Services hence Accounting Standard 17 "Segment Reporting" is not applicable