Marg 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 audited standalone financial results have been reviewed by the audit committee and thereafter approved and taken on record by the Board of Directors in their respective meetings held on 30 May 2018. These audited financial results have been prepared in accordance with the Indian Accounting Standards ("Ind-AS") as specified under Section 133 of Companies Act, 2013 read with the rule 3 of Companies (Indian Accounting Standards) Rules, 2015 and the companies (Indian Accounting Standards) Amendment Rules, 2016 and the provisions of the Companies Act 2013.
2. The Company adopted Ind-AS from 1 April 2017 and accordingly the transition carried out, from the accounting principles generally accepted in India as specified under section 133 of the Companies act, 2013 read with the rule 7 of the Companies (Accounts) Rules, 2014 ("IGAAP" or "Previous GAAP"), in accordance with Ind-AS 101- First time adoption of Indian Accounting Standards. Accordingly, the impact on transition has been recorded in opening reserves as at 1 April 2016 and all the periods presented have been restarted accordingly.
3. The Statutory auditors of the company have audited the above financial results of the company for the year ended 31 March 2018. An qualified report has been issued by them thereon.
4. The figures for the Quarter ended March 2018 and 31 March 2017 are balancing figures between the audited figures in respect of full financial year and the published year-to-date figure upto 3rd quarter of the respective financial year. Also the figures upto the end of the third quarter had only been reviewed and not subject to audit.
5. The financial results for the quarter and year ended 31 March 2017 included in the statement, are based on the previously issued results of the company prepared in accordance with the Accounting Standards as per section 133 of the Companies Act, 2013 read with the rule 7 of the Companies (Accounts) Rules 2014 ('previous GAAP').
6. Reconciliation of Profit, as previously reported under IGAAP to Ind-AS for the quarter and the year ended 31 March 2017: For Table, kindly refer Corporate Announcements on www.bseindia.com.
7. Previous period's figures have been regrouped / reclassified wherever necessary to correspond with the current period's classification / disclosure.