NCC 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 Company adopted Indian Accounting Standards {"Ind AS") from 1st April 2016 with transition date of 1st April 2015 and accordingly these financial results have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards as prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued there under and other accounting principles generally accepted in India, as applicable.
2. The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held on 23rd May, 2017.
3. The Board of Directors at its meeting held on 23rd May ,2017 have recommended a dividend of Rs. 0 40 per equity' share for the year 2016-17, which is subject to approval of die share holders.
4. The Company, its Subsidiaries and Associates are pnmariy engaged in Construction / Protect activities and there are no other reportable segments under Ind .AS 108 -" Operating segments"
5. Exceptional items net. For Table, kindly refer Corporate Announcements on www.bseindia.com.
6. The figures for the quarter ended 31st March,2017 and 31st March.2016 are die balancing figures between the audited figures of die full financial years ended 31st March.2017 and 31st March, 2016 (Ind AS) respectively , and the published year to date Ind AS figures up to the Nine months ended 31st December, 2016 and 3l$t December, 2015 respectively.
7. On account of transition from the previous Indian Generally Accepted .Accounting Principles (IGAAP) to Ind AS, the reconciliations o with the requirements of Ind AS 101- First -time Adoption of Indian Accounting Standards are as under
a. Equity Reconciliation. For Table, kindly refer Corporate Announcements on www.bseindia.com.
In accordance with Ind .AS 101" First Tune .Adoption of Indian .Accounting Standards", the Company has elected to treat fair value as deemed cost for investments held in certain subsidiaries as at 1 April, 2015. The net changes on account of the selection in the standalone and consolidated financial statements resulted in decrease in die deemed cost of investments held in such subsidiaries.
b. Reconciliation of statement of Profit and Loss and other comprehensive income For Table, kindly refer Corporate Announcements on www.bseindia.com.