Jyothy Labs 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 unaudited financial results of the Company for the quarter and nine months ended December 31,2018 were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on January 24, 2019, The Statutory Auditors of the Company have carried out Limited Review of the above unaudited financial results for the quarter and nine months ended December 31,2018.
2. Sales for the nine months ended December 31, 2018 are net of Goods and Service Tax (GST), However, Sales till the period ended June 30, 2017 is gross of excise duty. Accordingly, the figures are not fully comparable,
3. The Company has adopted In AS 115-Revenue from Contract with customers which replaces earlier revenue recognition standard, There is no impact on retained earnings or profit for the period. Certain expenses in nature of variable consideration in a contract for sale of goods have been reclassified to revenue in the unaudited result for the quarter and nine months ended December 31, 2017 and audited result for the year ended March 31, 2018.
4. In compliance with Ind AS 20 on government grants and consequent to clarification published by the Institute of Chartered Accountants of lndia, the amount of budgetary support under Goods and Service Tax (GST) in relation to the existing eligible units under the different Industrial promotion Schemes and export incentives have been reclassified from 'Other operating revenue' to 'Other income' for all reported periods, This reclassification has no impact on the retained earnings or the reported profits for the respective periods.
5. During the quarter, the Company has allotted 36,20,470 equity shares of Rs 1/- each to the option grantee pursuant to the exercise of options under the Company's Employees Stock Option Scheme 2014-A As a result of such allotment, the paid up equity share capital of the Company has increased from 36,35,88,174 equity shares of Rs. l/- each to 36,72,08,644 equity shares of Rs. 1/- each.
6. Earnings per share of previous periods have been adjusted for bonus shares issued on July 3, 2018.
7. Previous period/year's figures have been regrouped/rearranged wherever necessary.
