NOCIL 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 is primarily engaged in the business of manufacture of Rubber Chemicals, which, in the context of Accounting Standard (AS 17) on ‘Segment Reporting', constitutes a single reportable segment.
2. The Directors have recommended a dividend of Rs. 1.80 per Equity share of Rs. 10/- each (18%) for the year ended 31 March 2017.
3. Pursuant to an agreement entered into between the core promoters of the Company and some of the promoter companies and approved by the Board of directors of the Company on 6 August 2016, the Company, during the year has sold part of its investments (Non-current investment) in Navin Fluorine International Limited. The profit on sale of the said investments aggregating to Rs. 1,970 lakhs has been disclosed as 'Exceptional Items'.
4. The figures of the last quarter ended 31 March 2017 are the balancing figures between audited figures in respect of the full financial year and the published year-to-date figures upto the third quarter of the respective financial year.
5. The figures for the corresponding periods/year have been regrouped, wherever necessary.
6. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 8 May 2017.