MosChip Technologies Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2017
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2017
1. The Company's business activity falls within a single primary business segment i.e., software development and -product sales and hence furnishing of segment wise revenue, results and capital employed is not applicable.
2. During the December Quarter Maven Systems Private Ltd, Eliteplus Semiconductor Technologies Pvt Ltd and Orange Semiconductors Private Limited have become 100% Wholly Owned Subsidiaries of MosChip Semiconductor Technology Limited on different dates. In consolidated financials of 3 months ended 31.12.2016 figures consist of all the wholly Owned Subsidiaries Revenue and Expenditure. The Pre Acquisition Loss Rs. 151.00 Lakhs transferred to goodwill. Hence the previous 3 Months figures are not comparable with current quarter ended figures.
3. The above audited results were reviewed by Audit Committee and approved by the Board of Directors at their meeting held on May 22, 2017.
4. The Statutory Auditors have audited the standalone results of the company for the year ended 31 March, 2017.
5. Previous quarter/year figures have been regrouped / reclassified wherever necessary.