Omaxe 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 results were reviewed and recommended by the Audit Committee & approved by the Board of Directors at their respective meetings held on 23rd May, 2018. The financial results for the quarter and year ended March 31, 2018 have been audited by the Statutory Auditors of the Company.
2. The figures for last quarter of current and previous years are the balancing figures between the audited figures in respect of the full financial year and the published figures for nine months ended for respective years.
3. The standalone and consolidated financial results have been prepared in accordance with the principle and procedures of Indian Accounting Standards (“Ind AS") as notified under the Companies (Indian Accounting Standards) Rules, 2015 as specified in Section 133 of the Companies Act, 2013.
4. In line with the provisions of Ind AS 108 - Operating Segments and on the basis of review of operations being done by the management of the company, the operations of the group falls under real estate business, which is considered to be the only reportable segment by the management.
5. The Board of Director's have recommended a dividend of Rs. 0.70 Per share (7%) on equity shares of Rs. 10/- each only to public shareholders and 0.1% on 0.1% Non Cumulative Non-Convertible redeemable preference shares, for the financial year ended March 31, 2018 for approval of shareholders.
6. In terms of Ind AS 110 - Consolidated Financial Statements, 155 companies under control of group and 3 wholly owned subsidiary companies whose financial statements reflect total revenue (including other income) of Rs. -2,529.16 lakhs and Rs. -1,603.68 lakhs for the quarter and year ended March 31, 2018 respectively, total profit/(loss) after tax of Rs. 43.58 lakhs and Rs. 441.56 lakhs for the quarter and year ended March 31, 2018 respectively and total assets of Rs. 14,252.35 lakhs as at March 31, 2018 have been considered in the consolidated financial results. The financial results of these companies have been reported by their management and given effect in consolidated financial results based on financial statements as certified.
7. The figures for the corresponding previous period/ year have been regrouped/ reclassified, wherever necessary, to make them comparable.