Morarjee Textiles Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2017
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2017
1. The above audited financial result for the year ended 31st March 2017 have been reviewed by the audit committee and approved by the Board of Directors respectively at their meeting held on 15th May,2017.
2. The Company has only one reportable segment - Textile Product.
3. Other Income for the quarter ended 31st December, 2016 and for the Year ended 31st March, 2017 includes liquidated damages amounting to Rs.241 lacs towards late delivery of machinery.
4. The Power & Fuel cost of the quarter / year ended 31st March, 2016 is net of write back of excess provision of earlier years of Rs.393 lacs.
5. Besides dividend on preference shares, the Board of Directors have also recommended dividend of Rs.1.40 per share on Equity shares of Rs. 7/- each (20%)
6. In the above results, the amounts for quarter ended March 31, 2017 and March 31, 2016 represent the balancing amounts between the amounts as per the audited accounts for the year ended March 31, 2017 and for March 31, 2016 and amounts as per the published unaudited results for nine months ended December 31, 2016 and December 31, 2015 which were subjected to a limited review by the auditors.
7. Corresponding figures of the previous periods / year have been regrouped wherever necessary.