Pokarna 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 Statement has been reviewed and recommended by the Audit Committee and approved by the Board of Directors at its meeting held on 29th January, 2019 and also been subjected to Limited Review by the Statutory Auditors of the Company.
An unqualified report of the Company on this Statement has been issued by the Auditors.

2. The Statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 read with rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standard) Accounting Rules, 2016.

3. Discontinued Operations : In accordance with Ind-AS 105, the company has presented the financials of Apparel Business as discontinued operations. The transfer and sale of Apparel Business is subject to finding the buyer/investor and receipt of acceptable offer and is also subject to such other requisite approvals, consents and clearance from the Company's Bankers, Company's Shareholders and other Institutions or bodies and statutory authorities if and wherever necessary, and as may be required.

4. The Ministry of Corporate Affairs (MCA) on 28th March 2018 notified Ind AS 115 “Revenue from contracts with customers” as part of the Companies (Indian Accounting Standards) Amendment Rules, 2018. The new Standard is effective for reporting periods beginning on or after 01st April 2018. The adoption of the standard did not have any material impact to the financial results of the company.

5. Post implementation of Goods and Service Tax (GST) effective from 1st July, 2017, revenue is reported net of GST as per Ind AS—18. Revenue, however, is reported inclusive of excise duty for the previous periods. Had the previously reported revenue been shown net of excise duty, comparative revenue of the company would have been as under : For table, kindly refer Corporate Announcements on

6. Details of forex loss / (gain) are given below : For table, kindly refer Corporate Announcements on

7. Previous period‘s / year's figures have been regrouped/ rearranged wherever necessary

Gautam Chand Jain
Chairman & Managing Director