MPF Systems 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 above financial results have been reviewed by auditors, recommended by the Audit Committee and approve by the Board of Directors at its meetings held on May 20th, 2017.
2. The Company is of the view that it is primarily engaged in the business of design, development, installation and servicing of Fire Security Systems which is a single business segment and hence, Accounting Standard -17 "Segment Reporting" notified pursuant to the Companies (Accounting Standard) Rules,2006 is Not Applicable to the company.
3. Figures for current quarter are the balancing figures between unaudited figures in respect of preceding 3 months ended on 30th September 2016 and unaudited year to date figures for 3 months ended on 31st December 2016.
4. The auditors of the company have conducted a limited review of the financial results for the quarter and three months ended 31st March 2017.
5. Board of directors of the company has passed resolution regarding reduction of share capital of the company in their meeting held on dated 11.02.2016 but the approval from the National Company Law Tribunal is still pending and there fore no effect of the above has been given in the financial statement of the company due to pending approaval from the respective authorities.
6. ‘Figure for the previous accounting year ended on 31st march 2016 comprises of 15 months i.e. from 1st January 2015 to 31st march 2016.
7. Figure for the previous period have been re-grouped / re-classified wherever necessary.