S Kumars Online 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
(EPS are as per Actual in INR.)
1. The above unaudited financial results were reviewed by the Audit Committee at its meeting held on 31st January 2019 and were approved by the Board of Directors at its meeting held on 31st January 2019.
2. The Company operates only in one segment i.e. 'IT Management Consultancy'.
3. During the year management has revived its 'IT Management Consultancy' segment and is constantly trying to introduce new e-Commerce business model to eradicate cash flow mismatches and negative net worth of the company. Management is confident that in near future Company will be in revival mode and thereby going concern will not be affected. Provision for gratuity has been done as per Management Estimates instead of actuarial valuation basis as per recommendations of Ind AS 19 issued by ICAI, as the management is of the opinion that the provision created in the books is sufficient considering the number of employees.
4. Previous year's figures have been regrouped / reclassified wherever considered necessary.