AIA Engineering Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2018

Notes :

(i) The above audited standalone financial results for the quarter and year ended 31 March 2018 have been reviewed by the Audit Committee and subsequently approved by the Board of Directors in their respective meetings held on 16 May 2018. The statutory auditors have expressed an unqualified opinion. Further, amounts for the quarter and year ended 31 March 2017 were audited by predecessor auditors of the Company.



(ii) For the year 2017-18, the Board at its meeting held on 22 March 2018 declared an interim dividend of Rs. 8 (i.e., 400%) per equity share of face value Rs. 2 each, amounting to Rs. 7,545.63 lakhs. The same is paid by the Company in April 2018. Having declared Interim Dividend, your Board has not recommended a Final Dividend for Financial Year 2017-18.



(iii) Figures for the quarter ended 31 March 2018 and corresponding quarter ended in the previous year as reported in these standalone financial results are the balancing figures in respect of full financial year and the published year to date figures upto end of third quarter of the relevant financial year. Also the figures upto the end of third quarter of the relevant financial year had only been reviewed and not subject to audit.



(iv)The audited standalone financial results are in accordance with the Indian Accounting Standards (lnd AS) as prescribed under Section 133 of the Companies Act, 2013, read with rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) (Amendment Rules), 2016.



(v) Effective 1 July 2017, the Government of India has introduced Goods and Service tax whereby sales are recorded net of GST whereas earlier sales were recorded gross of excise duty which formed part of expenses. Hence, revenue from operations for the quarters ended 31 March 2018 and 31 December 2017 and for the year ended 31 March 2018 is not comparable with previous period corresponding figures.



(vi) The Company has only one reportable primary business segment as per IND AS 108 - "Operating Segments", i.e., Manufacturing of High Chrome Mill Internals.



(vii) Refer annexure - I for standalone statement of assets and liabilities.



(viii) During the quarter under review, Vega Industries FZC., UAE, a Wholly Owned Subsidiary of the Company has incorporated a Wholly Owned Subsidiary in Ghana viz. AIA Ghana Limited.



(ix) Figures for the previous period have been regrouped, reclassified and restated wherever necessary to make them comparable with the current period's figures.