Godawari Power & Ispat 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 Financial Results of the company for the quarter ended 31st December, 2018 have been reviewed by the Audit Committee and approved by the Hoard of Directors at their respective meetings held on 2nd February, 2019 and the Limited Review of the same has been carried out by the Auditors.
2. These results have been prepared In accordance with the Companies(Indian Accounting Standards)Rules.2015 (Ind AS)prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies to the extent applicable.
3. In accordance with the requirement of Ind AS, revenue from operation for the quarter ended 31st December 2018 is net of Goods & ServiceTax (GST). However, revenue from operation for the 9 month ended 31st December 2017 & FY 2017-18, is Inclusive of Excise Duty. Hence, these figure are not comparable to that extent.
4. Proposed merger of M/s. Jagdamba Power and Alloys Ltd (JPAL)into Godawari Power and Ispat Limited (GPIL)called off due to non-approval of resolution of merger by JPAL sharesholders. However,the operation of the company will not impact. as JPAL continues to supply power to GPIL under Power Purchase Agreement.
5. The previous year/period have been regrouped/rearranged wherever found necessary.