Apar Industries Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018
Auditor and Management Disclosures and Notes for the quarterly results dated 31 Dec 2018
1) This Statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (as amended) (Ind AS), prescribed under section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
2) The above standalone unaudited financial results were reviewed by the Audit Committee of Directors and approved by the Board of Directors at their meeting held on 29th January, 2019. The Statutory Auditors of the Company have carried out a limited review of the above standalone results for the quarter ended 31st December, 2018 and have issued an unmodified report on the said financial results.
3) 'The Company has aligned its policy of revenue recognition with IND AS 115 " Revenue from Contract with Customers " which is effective from 1st April 2018. There is no impact on the financial results upto 31st March 2018 and also for the period ended 31st December 2018. However,the export benefits amounting to Rs 4.92 Crores and Rs 14.89 Crores for the quarter and nine months ended 31 December 2018 , Rs 5.37 Crores for the quarter ended 30 September 2018 , Rs 3.78 Crores and Rs 11.98 Crores for the quarter and nine months ended 31 December 2017 and Rs 15.62 Crores for the year ended 31 March 2018 respectively which was hitherto included in sales Income has now been included in Other Operating revenue which is disclosed as a seperate line item under the head of ' Income from Operations '.This adjustment has no impact on the profit and loss and Equity for the respective periods.
4)Consequent to the introduction of Goods and Services Tax (GST) with effect from 1st July,2017 , Central Excise, Value Added Tax (VAT) etc. have been subsumed into GST. In accordance with Indian Accounting Standard - 115 on Revenue from Contract with Customers and schedule III of the Companies act, 2013, unlike Excise Duties, levies like GST, VAT etc. are not part of revenue.Accordingly, gross revenue from sale of products and services for the nine months ended 31st December, 2018 are not
comparable with the previous period. The following additional information is being provided to facilitate a meaningful comparison :
5) 'Others / unallocated' segment liabilities in the segment information includes equity share capital and reserves amounting to Rs 1080.40 crore as at 31st Dec,2018,Rs 1036.31 crore as at 30th Sept,2018, Rs1026.07 crore as at 31st Mar, 2018, Rs 990.01 crore as at 31st Dec, 2017.
6) 'The financial results of the Company are being forwarded to the Stock Exchanges (BSE and NSE) for uploading on their respective websites and the same are also made available on the Company's website viz., www.apar.com
7) Figures for previous periods have been regrouped, wherever necessary.