Andhra Cements 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 were reviewed and recommended by the Audit Committee and approved subsequently by the Board of Directors at their respective meetings held on Hay 30, 2018.
2. The Company has accumulated loss of Rs 52.14/ lakhs against the paid up share capital of Rs 29,152 lakhs as at March 31t. 2018. The Company has Implemented various marketing and cost control measures to achieve consistent profitable operations and cash flows further. Hoard of Directors has decided to dispose off Its split Grinding Unit located at Visakhapatnam and necessary steps are being initiated for the same Hie Management Is confident that this will lead to substantial Improvement In financial position of the Company through reduction of borrowings and Interest cost. Accordingly, financial statements have been prepared on going concern basis. The statutory audltois have included Emphasis of Matter paragraph In their audit report In respect of this matter.
3. The figures for the quarter ended March 31, 2018 and March 31,2017 are the balancing figures between audited figures for the full financial year ended March 31, 2018 and March 31, 2017 and the published year to date figures up to the third quarter of the respective financial years.
4. The company's business operation fall In single segment I.e. manufacturing and marketing of cement.
5. Exceptional Items fbr the financial year ended March 31, 2018 represents profit on sale of surplus land during the earlier quarter.
6. In accordance with the requirements of Ind AS, revenue from operations is net of Goods & Services Tax (GST) for the period beginning from July 1, 2017. However, revenue from operations for the periods prior to July 1, 2017 is Inclusive of Excise Duty. These figures are not comparable to that extent.
7. Previous year/ period figures have been regrouped/reclassified wherever necessary.