Raunaq International 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 financial results as reviewed and recommended by the Audit Committee have been approved by the Board of Directors at its meeting held on January 23, 2019.
2. The Company has adopted Ind AS 115 "Revenue from Contracts with Customers" from April 01, 2018 using the cumulative catch-up transition method which is applied to contracts that were not completed as of April 1, 2018. Accordingly, the comparatives have not been retrospectively adjusted. The effect on adoption of Ind AS 115 was insignificant on the financial statements.
3. The above financial results have been subjected to the Limited Review by the Statutory Auditors of the Company.
4. M/s. Xlerate Driveline India Ltd, a wholly owned subsidiary company has posted a turnover of Rs. 3304.12 lacs and net profit of Rs. 45.59 lacs for the nine months ended December 31, 2018.
5. Previous period figures have been regrouped / reclassified wherever necessary to conform to current period classification.