Insecticides (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 published in accordance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meeting held on February 04, 2019. The Statutory Auditors have carried out a limited review of financial results for the quarter ended February 04, 2019.
2. The results have been prepared in accordance with the Indian Accounting Standard (lnd AS) prescribed under Companies (Indian Accounting Standard) Rules, 2015 and relevant Amendment Rules issued thereunder.
3. The Company is in the business of manufacturing and distribution of Agro-Chemicals and accordingly has one business segment viz "Agro-Chemicals" comprising of Technical & Formulation.
4. Effective April 01, 2018, the Company has adopted Ind AS 115 ' Revenue from contracts with customers'. Based on the assessment done by the management, there is no material impact on revenue recognised during the period.
5. The Government of India introduced the Goods and Service Tax (GST) with effect from July 1, 2017, consequently revenue from operations for the period from July 1, 2017 is presented net of GST. However revenue from operations for period upto June 30, 2017 is inclusive of excise duty. The Net Revenue from Operations (Net of GST/ Excise Duty) as applicable are stated below:- (For Table, kindly refer Corporate Announcements on www.bseindia.com.)
6. Previous period figures have been re-grouped and or re-arranged wherever necessary to make their classification comparable with the current quarter.