Supremex Shine Steels 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 unaudited Financial Results for the quarter and nine year ended 31th December, 2018 have been reviewed and recommended by the Audit committee and thereafter approved by the Board of Directors in its meeting held on 05th February, 2019. The above results have been subjected to limited review by the Statutory Auditors of the Company.
2. The Company has adopted Indian Accounting Standard (IND AS) notified by the Ministry of Corporate Affairs w.e.f. April 01, 2017 and accordingly these financial results have been prepared in accordance with the recognition and measurement principles laid down in Ind AS-34 Interim Financial Reporting, prescribed under section 133 of the Companies Act 2013 read with relevant rules thereunder. The date of transition is April 01, 2016.
3. Figures for the previous period /quarter have been rearranged/re-grouped wherever necessary, to confirm with the figures for the current year/quarter.
4. Post the applicability of Goods and Service Tax (GST) with effect from July 01, 2017 revenue from operations are disclosed net of GST, whereas Excise duty formed part of other expenses in previous periods / year. Accordingly, the revenue from operations and other expenses for the quarter, six months and year ended March 31, 2018 are not comparable with the previous periods/year presented in the results.
5. The entire operation of the Company relate to only one segment viz. Business in Trading in Steels and Acting. Hence, Ind AS-108 is not applicable.