Alembic Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2018
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2018
1. The above results have been audited by Statutory Auditors, recommended by Audit Committee and approved by the Board of Directors of the Company.
2. The Board has recommended Dividend of Equity Shares at Rs. 0.20/- per share i.e. 10% for the year ended on 31st March, 2018, previous year Rs.0.20/- per share i.e. 10%.
3. Revenue from Operations for the current quarter and year are not comparable with previous periods, since sales for the period after 1st July, 2017 are net of Goods and Services Tax (GST), whereas, Excise Duty formed part of the same and other expenses in the previous periods.
4. The Board of Directors of the Company had approved the proposal for Buy-back of Equity Shares at its meeting held on 23rd January, 2018. The same was approved by the members through Postal Ballot, the result of which was declared on 12th March, 2018. In furtherance to the said approval, the Company has completed the settlement for Buy-back of 1,02,50,000 Equity Shares of Rs. 2/- each (representing 3.84 % of total pre Buy-back paid up Equity Capital) from the shareholders on a proportionate basis by way of a tender offer at a price of Rs. 80/- per Equity Share for an aggregate amount of Rs. 82 crores, on 9th May, 2018 in accordance with the provisions of the Companies Act, 2013 and the SEBI (Buy Back of Securities) Regulations, 1998.
5. The previous quarter's / year's figures have been regrouped / rearranged wherever necessary to make it comparable with the current quarter / year.