GlaxoSmithKline Pharmaceuticals 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 results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 4th February, 2019.
2. Consequent to the introduction of Goods and Service Tax (GST) with effect from 1st July, 2017, Central Excise, Value Added Tax (VAT) etc. have been subsumed under GST. In accordance with Ind AS 115 on Revenue from Contracts with Customers and Schedule III to the Companies Act 2013, unlike Excise Duty, levies like GST, VAT etc. are excluded from Revenue from Operations. Accordingly, the figures for the nine months ended 31st December, 2018 are not comparable with the corresponding period.
3. Exceptional items for the quarter ended 31st December, 2018 of Rs. 2813 Lakhs comprise income from profit on sale of property Rs. 2344 Lakhs and sale of brands Rs. 469 Lakhs. Exceptional items for the nine months ended 31st December, 2018 of Rs. 806 Lakhs comprise of Rs. 2813 Lakhs on sale property and brands net off a charge of Rs. 2007 Lakhs on account of restructuring of the commercial and manufacturing organisation. Exceptional items for the nine months ended 31st December, 2017 mainly relate to profit on sale of property.
4. The Company has allotted 8,47,03,017 fully paid up equity shares of Rs.10/- each during the previous quarter ended 30th September, 2018 pursuant to a bonus issue in 1:1 ratio approved by the shareholders through postal ballot. The bonus shares were issued by capitalisation of profits transferred from general reserve. Record date fixed by the Company was 13th September, 2018. The earnings per share have been adjusted for previous periods presented in accordance with Ind AS 33 Earnings per share.
5. The Company has only one reportable segment which is Pharmaceuticals. Accordingly, no separate disclosures of segment information have been made.
6. In accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, the Statutory Auditors have carried out a limited review of the standalone financial results for the quarter and nine months ended 31st December, 2018.
7. Previous periods figures have been re-grouped / re-classified wherever necessary.