Nureca Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2021
Auditor and Management Disclosures and Notes for the quarterly results dated 31 Mar 2021
Notes:-
1. The above audited standalone financial results for the quarter and year ended 31 March 2021 have been reviewed by the Audit Committee and approved by the Board of Directors on 16 June 2021. These results have been prepared in accordance with Indian Accounting Standards('Ind AS') prescribed under Section 133 of the Companies Act 2013 read with the relevant rules there under and in terms of Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015.
2. The Audit report of the Statutory Auditors is being filed with the BSE Limited and National Stock Exchange of India Limited. For more details on audited financial results visit investor relation section of our website www.nureca.com and financials results at corporate section at www.bsemdia.com and www.nseindia.com.
3. The Company adopted Indian Accounting Standards (Ind AS) from 01 April 2020 with the transition date of 01 April 2019. Consequently, erstwhile Indian Generally Accepted Accounting Principles (IGAAP) results for the year ended 31 March 2020 has been restated to make them comparable. Reconciliation of equity and net profit as reported under erstwhile IGAAP and as restated now under Ind AS is as under: For Table, kindly refer Corporate Announcements on www.bseindia.com.
4. During the year, the company issued and allotted fully paid-up "bonus shares" at par in proportion of six new equity share of INR 10 each for every one existing fully paid up equity share of INR 10 each held as on the record date of 02 September 2020.
5. During the year, the Company has raised funds aggregating to INR 50 million by way of preferential allotment of fully paid-up 500,000 equity shares of INR 10 each at a premium of INR 90 per share to other than promoter group with the allotment date of 21 October 2020.
6. During the year the Company has made Initial Public Offering of 2,500,175 equity shares of face value of INR 10 each for cash consisting 2,496,675 equity shares to public other than employees at a price of INR 400 per equity share (including a share premium of INR 390 per equity share) and 3,500 equity shares to the employees at a price of INR 380 per equity share (including a share premium of INR 370 per equity shares) aggregating to INR 1000.00 million. The Company has incurred INR 32.21 million as an IPO related expense (excluding taxes). These expenses (excluding taxes) of INR 32.21 million has been adjusted against securities premium.
The utilization of IPO proceeds out of fresh issue is summarized below: For Table, kindly refer Corporate Announcements on www.bseindia.com.
IPO proceeds which were unutilized as at 31 March 2021 were temporarily invested in term deposits with bank.
The difference in planned proceeds as per prospectus and actual proceeds is due to saving in the planned IPO expenses amounting to Rs. 7.0 million.
7. The business of the Company falls within single line of business i.e. business of home healthcare and wellness products.
8. The Company has taken in to account the possible impact of Covid-19 in preparation of the standalone annual financial results, including its assessment of there coverable value of its assets based on the internal and external information upto the date of approval of these results and current indicators of future economic conditions.
9. The figures for the last quarter ended 31 March 2021, as reported in these audited standalone financial results are the balancing figures between audited figures in respect of the full financial year and the unpublished year to date figures up to the end of third quarter of the current financial year i.e. 31 December 2020, which had only been reviewed and not subjected to audit. Further, the standalone annual financial results for the quarter ended 31 March 2020We been prepared solely based on the information compiled by management and have been approved by the Board of Directors which have not been audited or reviewed by our statutory auditors. However, the management has exercised necessary due diligence to ensure that the standalone unaudited financial results provide a true and fair view of the Company’s affairs.
10. The board has proposed a dividend of INR 2 per equity share of INR 10 each fully paid up, subject to approval in the annual general meeting.