Sofcom Systems Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2018
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2018
1. The above Audited Financial Results of the company for the quarter and year ended March 31st, 2018 have been reviewed by the Audit Committee and on its recommendation, have been approved by the Board of Directors at its meeting held on May 29th 2018.
2. The above Audited Financial Results have been prepared as per format prescribed in Regulation 52 of the Securities and Exchange Board of India (Listing Obligations And Disclosure Requirements) Regulations, 2015
3. The Company has only one business segment 'Software Sale and Software Consultancy'.
4. Figures in respect of the previous year/period have been rearranged /regrouped wherever necessary to correspond with the figures of the current year/period.
5. These financial results have been prepared in accordance with Indian Accounting Standards ('IND AS') prescribed under section 133 of the companies act 2013 read with relevant rules there under and in terms of Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulation 2015 and SEBI Circular? dated S July, 2016 Beginning 1st April , 2017, The Company has for the first time adopted IND AS with a transition date of 1st April, 2016. Consequently while Indian Generally Accepted Accounting Principles (Previous GAAP) results for the quarter ended March 31, 2017 have been restated to make them comparable, the company further opted to avail the relaxation provided by SEBI in respect of disclosure and requirements for the corresponding figures of earlier periods.
6. The Company has prepared a reconciliation of the net profit for the corresponding periods under the Generally Accepted Accounting principles with the total comprehensive income as reported in these financial results under IND AS:(For Table, kindly refer Corporate Announcements on www.bseindia.com.)