AIA Engineering Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2017
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2017
1. The above Audited Financial Results for the Quarter / Year ended 31st March, 2017 have been reviewed by the Audit Committee and subsequently approved by the Board of Directors in their respective meetings held on 25th May, 2017.
2. The Company has adopted Indian Accounting Standards (Ind AS) from 1st April, 2016. The figures for the Quarter / Year ended 31st March,2017 are in compliance with the Indian Accounting Standards(Ind-AS) notified by the Ministry of Corporate Affairs. Consequently, results for the quarter and previous year ended 31st March, 2016 have been restated to comply with Ind-AS to make them comparable. The figures for quarter ended 31st March, 2017 are the balancing figures between the audited figures in respect of the full financial year and the year-to-date figures upto the third quarter of the financial year.
3. During the year under review, the Board of Directors, in its meeting held on February 13, 2017, has declared and paid an Interim Dividend of Rs 4/-(200%) per Equity Share of Rs 2/- each amounting to Rs 3,772.82 Lacs for the year 2016-17.
Board of Directors recommends Final Dividend of Rs. 4/- (200%) per Equity Share of Rs. 2/- each amounting to Rs. 3,772.82 Lacs for the year 2016-17.
4. The Company has only one reportable primary business segment as per Ind AS 108 i.e. Manufacturing of High Chrome Mill Internals.
5. Figures for the previous period have been regrouped, reclassified and restated wherever necessary to make them comparable with the current period's figures.
6. Statement of Reconciliation of net profit reported under Ind AS and net profit reported under previous Indian GAAP for the Quarter / Year ended 31st March, 2016 are as under: For Table, kindly refer Corporate Announcements on www.bseindia.com.
7. Statement of Reconciliation between Total Equity reported under Ind AS and Previous Indian GAAP for the year ended 31st March, 2016 is as under : For Table, kindly refer Corporate Announcements on www.bseindia.com.