Hexaware Technologies Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2017
Auditor and Management Disclosures and Notes for the annual results dated 31 Dec 2017
1. The Consolidated audited financial results and standalone audited financial results of the Company, reviewed and recommended by the Audit Committee, were taken on record by the Board of Directors of the Company at its meeting held on February 7, 2018.
The Company has opted to publish only consolidated audited financial results, along with information on audited standalone results as per the amended guidelines issued by the Securities and Exchange Board of India. Standalone audited results are available on the Company's website.
2. Information on segments has been disclosed on a consolidated basis in accordance with Ind AS 108 "Operating Segment"
3. Figures of the quarter ended 31st December are the balancing figures between audited figures in respect of the full financial year ended 31st December and the audited figures upto the third quarter of such financial year.
4. The Board of Directors have declared an interim dividend of Re, 1/- per share (50%) on an equity share of Rs. 2/- each, at Its meeting held on February, 7, 2018.
5. The Company adopted Indian Accounting Standards ("Ind AS") from January 1, 2017 and accordingly these financial results have been prepared in accordance with the Ind AS prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules Issued thereunder and the other accounting principles generally accepted in India.
Reconciliations between consolidated financial results, as previously reported (referred to as 'Previous GAAP') and Ind AS (For Table, kindly refer Corporate Announcements on www.bseindia.com.)
Reconciliations between unconsolidated (standalone) financial results, as previously reported (referred to as 'Previous GAAP') and Ind AS (For Table, kindly refer Corporate Announcements on www.bseindia.com.)
6. The shareholders at its extra ordinary general meeting held on April 24, 2017 approved the scheme of merger of Risk Technology International Limited, a wholly owned subsidiary, with Itself which was further approved by the National Company Law Tribunal ("NCLT") vide its order dated July 6, 2017. In accordance with the scheme and Appendix C to the Ind AS 103 Business Combination, the said merger has been accounted using the pooling of interest method and accordingly, all figures of previous year periods of standalone financials have been restated.
7. Figures for the previous period has been regrouped wherever necessary to conform to the current period.