Panasonic Carbon India Co. 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. The unaudited financial results for the quarter and nine months ended December 31, 2018 in respect of Panasonic Carbon India Co. Limited ('the Company') have been reviewed by the Audit Committee and approved by Board of Directors of the Company at their respective meetings held on January 29, 2019 . The above results have been subjected to limited review by the statutory auditors of the Company. The report of the statutory auditor is unqualified.
2. These financial results have been prepared in accordance with Indian Accounting Standards ( "Ind AS") prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules thereunder and in terms of Regulations 33 of the SEBI ( Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI circular dated July 5, 2016.
3. Segment reporting is based on "management approach" as defined in IND AS 108 - Operating Segments. The Chief Operating Decision Maker evaluates the group's performance as single business namely manufacturing of carbon rods.
4. Effective April 01, 2018, the Company has adopted Ind AS 115, Revenue from contracts with customers which replaces earlier revenue recognition standards, using the cumulative effect method. The adoption of Ind AS 115 did not have any material impact on the financial results for the quarter and nine months ended December 31, 2018.
5. Previous period's figures have been regrouped/ reclassified wherever necessary to correspond with the current period's classification.