Eris Lifesciences 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 statement of financial results ("the Statement") of the Company were reviewed by the Audit Committee and approved by the Board of Directors at their respective meeting held on January 29, 2019. The Statutory Auditors of the Company have carried out Limited Review of the Statement.
2. The Company is primarily engaged in one business segment namely - "Pharmaceuticals" - as determined by the chief operating decision maker In accordance with Ind AS 108 - "Operating Segment".
3. The Company has acquired Indian domestic formulation business of Strides Shasun Limited on a going concern basis byway of slump sale on November 30, 2017. Accordingly, figures for the current periods are not comparable with previous periods.
4. Revenue from operation upto June 30, 2017 was reported inclusive of excise duty which is now subsumed in Goods and Services Tax. Accordingly, figures of revenue from operations for the nine months ended December 31, 2018 are not comparable with the figures of the previous period.
5. Effective April 1, 2018, the Company has adopted Ind AS 115 "Revenue from Contracts with Customers". The adoption of the standard did not have material impact on the financial results of the Company.
6. Figures for the previous periods have been regrouped wherever considered necessary.