Honeywell Automation India 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 results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on February 4, 2019.
2. The Company has only one segment viz. “Automation & Control Systems” as per Indian Accounting Standard (Ind AS) - 108 Operating Segment requirement.
3. Previous quarters/periods figures have been regrouped/reclassified as appropriate.
4. Consequent to introduction of Goods and Services tax (GST) with effect from 1st July 2017, Central Excise, Value added Tax (VAT) etc have been subsumed into GST. In accordance with Ind AS - 115 "Revenue from Contracts with Customers" on Revenue and Schedule III of the Companies Act, 2013, GST, GST Compensation Cess, VAT, etc. are not included in Gross Revenue from sale of products and services for applicable periods. In view of the aforesaid restructuring of indirect taxes, Gross Revenue from sale of products and services and Excise duty for the period ended 31st December, 2018 are not comparable with the previous periods. For additional information to facilitate such comparison please refer to the pdf of the financial results submitted.
5. At the Board Meeting held on February 4, 2019, Ms. Neera Saggi (DIN: 00501029) was appointed as an Additional Director (Non-Executive, Independent Director) of the Company with effect from February 4, 2019 for a term of five years. The appointment of Ms. Neera Saggi will be subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company.