Sandhar Technologies 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
1. The above statement of audited standalone financial results ('the Statement') for the quarter and year ended 31 March 2021, has been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 21 May 2021 . The standalone financial results have been prepared in accordance with the recognition and measurement principles of the Indian Accounting Standards ('Ind AS’) prescribed under Section 133 of the Companies Act, 2013.
2. The Company is engaged in the business of manufacturing of 'Automotive Components’. There is no separate reportable business segment as per Ind AS 108 on Operating Segments.
3. As on 9 October 2020, the Company has divested its entire shareholding in its Joint Venture company 'Indo Toolings Private Limited' in favour of JBM Auto Limited, Joint Venture Partner. The sale proceeds from investments amounts to Rs. 332.50 lacs towards investment in Preference shares and Rs. 29.30 Lacs for equity shares.
4. The company's operations and financials results for the quarter ended 30 June, 2020 were adversely impacted by the outbreak of COVID-19 pandemic and the consequent lockdown announced by the State/Central Government of India. The operations have resumed with requisite precautions in place. The situation is continuously evolving, the impact assessed may be different from the estimates made as at the date of these financial results and management will continue to monitor any material changes arising due to the impact of this pandemic on financial and operational performance of the Company and take necessary measures to address the situation.
5. The Board of Directors at its Meeting held on 27 June 2020, has recommend a final dividend @ 7.5% i.e. Rs. 0.75 per equity share, which has been approved by shareholders in Annual General Meeting held on 23 September 2020.
6. The Board of Directors at its Meeting held on 13 February 2021, has declared an interim dividend of Rs. 1.25 per equity share.
7. The Board of Directors at its Meeting held on 21 May 2021, has recommend a final dividend @ 10% i.e. Rs. 1.00 per equity share. The dates of the Book closure for the entitlement of such dividend and Annual General Meeting shall be decided and informed in due course of lime.
8. The figures of the quarter ended 31 March 2021 and the corresponding quarter ended in the previous year as reported in the Statement, are the balancing figures between the audited figures in respect of the full financial year and the unaudited published figures up to the third quarter ended 31 December of respective years, which have been reviewed by the statutory auditors.