Hexaware Technologies Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2019
Auditor and Management Disclosures and Notes for the annual results dated 31 Dec 2019
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 11, 2020.
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. The Group on June 13, 2019 acquired 100% equity in Mobiquity Inc. and its subsidiaries (together referred to as Mobiquity). Mobiquity Inc. is headquartered in the US, and with a global presence across 3 continents, Mobiquity is a customer experience consulting firm that specializes in creating frictionless multi-channel digital experiences using cloud technologies
Purchase price has been allocated on a provisional basis as set out below, to the assets acquired and liabilities assumed in the business combination.
For Table, kindly refer Corporate Announcements on www.bseindia.com.
The transaction costs of Rs. 169.55 million has been included in the statement of profit and loss account and shown as an exceptional item.
Considering the aforesaid business combination, the financials for the period ended and as at December 31, 2019 are not comparable with that of the previous periods.
4. Effective January 1, 2019, the Company has adopted Ind AS 115 using the cumulative effect method. The standard is applied retrospectively only to contracts that are not completed as at the date of initial application and the comparative information is not restated in the condensed interim consolidated statement of profit and loss. The adoption of the standard did not have any material impact to the financial statements of the Company.
5. The Board of Directors have declared a final dividend of Rs. 2.50 per share (125%) on an equity share of Rs. 2/- each.
6. Figures for the previous period has been regrouped wherever necessary to conform to the current period.