KSE Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2021
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2021
Notes:
1. Above Audited Financial Results were reviewed and recommended by the Audit Committee and were approved and taken on record by the Board of Directors at their respective meetings held on 30th June, 2021.
2. The figures for the quarters ended 31st March 2021 and 31st March 2020 are balancing figures between audited figures in respect of whole financial year and year to date published figures up to the third quarter of the relevant financial year.
3. The results furnished herein above are in accordance with Indian Accounting Standards (Ind AS) as notified by the Ministry of Corporate Affairs pursuant to Section 133 of the Companies Act, 2013 as applicable read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016 and guidelines issued by the Securities Exchange Board of India.
4. Exceptional Items of Rs. 390.36 lakhs and Rs. 668.14 lakhs, shown in Statement of Audited Financial Results and Audited Segment information for the quarter and year ended 31st March, 2021 represents profit on acquisition of 3.44 acres of land from Swaminathapuram Unit and 3.58 acres of land from Thalayuthu Unit of the Company for development of National Highway.
5. Board of Directors at their meeting held on 30th June 2021 has recommended a final dividend of Rs. 85 per equity share of Rs. 10 each for the financial year ended 31st March 2021. Including the interim dividend of Rs.15 per share already distributed for the year 2020-21, the total dividend for the year 2020-21 will be Rs. 100 per equity share.
6. Due to reporting of few positive cases of Covid 19 among employees, the operations of the Irinjalakuda Unit of the company were temporarily disrupted during July 2020 to August 2020. However, the shortage in production could almost be covered up by augmenting the production in other units as well as by production arrangement with new sources. The Company’s Management has evaluated the impact of this pandemic on its business operations and financial position and based on such review, there is no significant impact on the Company’s assets, capital and financial resources, profitability parameters or liquidity positions as at 31st March 2021. The Management does not envisage any impact on the going concern assumption in the foreseeable future. However, the impact assessment of COVID-19 will be a continuing process given the uncertainties associated with its nature and duration.
7. Figures in brackets represent negative figures.
8. Figures for the previous year/period are regrouped/reclassified where-ever necessary.