AI assistant
Paramount Communications Ltd. Interim / Quarterly Report 2020
59350_rns_2020-01-29_f0a778ec-8f8d-4af0-851a-52643f970667.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
PCL/SE/1/2020
| PCL/SE/1/2020 | 29.01.2020 |
|---|---|
| The Corporate Relationship Department | The General Manager- Listing |
| The Bombay Stock Exchange Ltd. | Nalional Stock Exchange of India Ltd. |
| Phiroze Jeejeebhoy Towers, | "Exchange Plaza", Bandra-Kurla Complex, |
| Dalal Street, | Bandra (East), |
| Mumbai-400 001 | Mumbai-400 051 |
| Symbol /Scrip Code: (BSE)530555/(NSE) PARACABLES |
Sub: Outcome of the Board Mecting
Dear Sir,
Pursuant to Regulation 33 of SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015 (Listing Regulations), this is to inform you that Board at its meeting held on today ie. 29.01.2020 has approved and taken on records the Unaudited Financial Results ( Standalone & Consolidated) for the Third Quarter ended 31.12.2019
The Copies of the Un-Audited Financial Results along with Limited Review Report are enclosed for the information and record.
In addition to the above following items were discussed/approved:
- Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors of the Company, based on the recommendation of the Nomination & Remuneration Committee, has approved the re-appointment of Mrs. Malini Gupta, Independent Director, for a period of five years, w.e.f. 1% April, 2020 subject to approval of the shareholders of the Company.
The Board has made an allotment of 2,24,00,000 Equity Warrants to the following Promoters and Promoter group entities on preferential basis, in accordance with the resolution passed by the shareholders of the Company vide Postal Ballot (including E-voting) results of which were declared on December 30, 2019, at a price of Rs. 9.81 per Equity Share:
Paramount Communications Ltd Paramount House C-125 Naraina Industrial Area Phase-1 New Delhi - 110028 t: +91 11 45618800 f : +91 11 25893719-20 [email protected] www.paramountcables.com CIN : L74899DL1994PLC061295
| Sr.No. | Name | No. of Equity Warrants |
|---|---|---|
| Mr. Sanjay Aggarwal | allotted43,00,000 | |
| Ie2s | Mr. Sandeep Aggarwal | 43,00,000 |
| 3. | Mrs. Kamla Aggarwal | 5,00,000 |
| 4. | Sanjay Aggarwal HUF | 14,50,000 |
| 3 | Mr. Dhruv Aggarwal | 14,50,000 |
| 6. | Mr. Tushar Aggarwal | 14,50,000 |
| 7. | M. Parth Aggarwal | 14,50,000 |
| 8. | Paramount Telecables Limited | 75,00;000- |
| Total | 2,24,00,000 |
The Board iets commenced at 2.30 P.M. and concluded 3.50 P.M. Kindly acknowledge the
Company Secretary & Compliance Officer
Paramount Communications Ltd Paramount House C-125 Naraina Industrial Area Phase-1 New Delhi - 110028 t: +91 11 45618800 f: +91 11 25893719-20 [email protected] www.paramountcables.com CIN : L74899DL1994PLC061295
| Phone :91-11-45618800 Fax : 91-11-25893719-20 Web: paramountcables.com | Regd. Office: C-125 Naraina Industrial Area, Phase-1, Naraina, New Delhi-110 028 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EXTRACT OF STATEMENT OF STANDALONE AND CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER , 2019CIN-L74899DL1994PLC061295. | [Rs. in Lakhs] | |||||||||||
| Particulars | STANDALONE | CONSOLIDATED | ||||||||||
| Quarter ended | Nine month Ended | Year Ended | Quarter ended | Nine month Ended | Year Ended | |||||||
| 31.12.2019 | 31.12.2018 | 201930.09. | 31.12.2019 | 31.12.2018 | 31.03.2019 | 31.12.2019 | 31.12.2018 | 30.09.2019 | 31.12.2019 | 31.12 2018 | 31.03.2019 | |
| Total income from operations | Unaudited | Unaudited | tedUnaudi | Unaudited | Unaudited | Audited | Unaudited | Unreviewed | Unaudited | Unaudited | Unreviewed | Audited |
| 16,567.34 | 16,957.36 | 15,457.00 | 47,245.37 | 43,020.82 | 61,446.33 | 16,567.34 | 16,957.36 | 15,457.00 | 47,245.37 | 45,020.82 | 61,446.33 | |
| Profit/(Loss) from ordinary activities after finance costs but beforeexceptional items | 744.66 | 915.49 | 727.47 | 2,134.12 | 1,982.19 | 2,915.96 | 744.66 | 915.49 | 727.47 | 2,134.12 | 1,982.19 | 2,915.96 |
| Profit/(Loss) from ordinary activities before tax | 744.66 | 915.49 | 727.47 | 2,134.12 | 1,982.19 | 2,915.96 | 744.66 | 915.49 | 727.47 | 2,134.12 | 1,982.19 | 2,915.96 |
| Net Profit/(Loss) from ordinary activities after tax | 744.66 | 915.49 | 727.47 | 2,134.12 | 1,982.19 | 2,915.96 | 744.66 | 915.49 | 727.47 | 2,134.12 | 1,982.19 | 2,915.96 |
| Other comprehensive income | 0.22 | (1.38) | 0.22 | 0.65 | (4.13) | 0.86 | 0.22 | (1.38) | 0.22 | 0.65 | (4.13) | 0.86 |
| Total Comprehensive Income (Comprising Profit/ (Loss) and othercomprehensive income for the period) | 744.88 | 914.11 | 727.69 | 2,134.77 | 1,978.06 | 2,916.82 | 744.88 | 914.11 | 727.69 | 2,134.77 | 1,978.06 | 2,916.82 |
| Paid up Equity Share Capital (Rs. 2/- Per Equity Share) | 3,435.68 | 3,435.68 | 3,435.68 | 3,435.68 | 3,435.68 | 3,435.68 | 3,435.68 | 3,435.68 | 3,435.68 | 3,435.68 | 5,435.68 | 3,435.68 |
| Other Equity | 10,706.21 | 10,706.21 | ||||||||||
| Earnings Per Share (of Rs. 2/-each) (Not Annualised): | Ÿ. | |||||||||||
| a) Basic | 0.43 | 0.53 | 0.42 | 1.24 | 1.20 | 1.74 | 0.43 | 0.53 | 0.42 | 1.24 | 1.20 | 1.74 |
| b) Diluted | 0.43 | 0.53 | 0.42 | 1.24 | 1.20 | 1.74 | 0.43 | 0.53 | 0.42 | 1.24 | 1.20 | 1.74 |
| 1) The above is an extract of the detailed format of the unaudited Financial Results for the quarter and nine months ended 31st December, 2019 filed with the Stock Exchange underRegulations 33 of the SEBI (Listing Oligations and Disclosure Requirements) Regulations, 2015. The full format of the quarterly Financial Results are available on company's website atwww.paramountcables.com and the stock exchange's websites, www.nseindia.com and www.bseindia.com. | ||||||||||||
| By and on behalf of the Board | For PARAMOUNT COMMUNICATIONS LID | |||||||||||
| Date: 29.01.2020Place: New Delhi | Sanjay AggarwalChairman & CEODIN:00001788 | DELY | ONS |
b
ì
PARAMOUNT COMMUNICATIONS LIMITEDC-125, Naraina Industrial Area, Prased, Naraina INDICATIONS LIMITEDC-125, Naraina Industrial Area, Prased, Naraina INDICATIONSE-mail: [email protected], Website: www.paramountcables.
| STANDALONE | CONSOLIDATED | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| S. No. | Particulars | Quarter Ended | Nine month Ended | Year Ended | Quarter Ended | Nine month Ended | Year Erded | ||||||
| 31.12.2019Unaudlied | 31.12.2018Unaudited | 30.09.2019Unaudited | Unaudlted31.12.2019 | 31.12.2018Unaudited | Audlted31.03.2019 | Unaudlted31.12.2019 | 31.12.2018Unreviewed | 30.09.2019Unaudited | Unaudited31.12.2019 | 31.12.2018Unreviewed | Audited31.03.2019 | ||
| $\overline{\phantom{m}}$ | Revenue from operations | 16,567.34 | 3616,957 | 15,457.00 | 47,245.37 | 43,020.82 | 61,446.33 | 16,567.34 | 16,957.36 | 15,457.00 | 47,245.37 | 43,020.82 | 61,446.33 |
| $\equiv$ | Other income | 85.85 | 70$\overline{6}$ | 45.85 | 176.00 | 248.21 | 330.76 | 85.85 | 91.70 | 45.85 | 176.00 | 248.21 | 330.76 |
| $\equiv$ $\geq$ | Total Revenue (I+II) | 16,653.19 | $\delta$17,049 | 15,502.85 | 47,421.37 | 43,269.03 | 61,777.09 | 16,653.19 | 17,049.06 | 15,502.85 | 47,421.37 | 43,269.03 | 61,777.09 |
| Expenses | |||||||||||||
| (a) Cost of materials consumed | 13,098.94 | 9914,581 | 11,041.98 | 36,921.66 | 35,898.46 | 50, 195.77 | 13,098.94 | 14,581.99 | 11,041.98 | 36,921.66 | 35,898.46 | 50,195.77 | |
| (b) Changes in inventories of finished goods,work-in-progress and stock-in-trade | (782.17) | 25)(1,200) | 686.04 | (1, 418.42) | (2.750.19) | (3, 169.64) | (782.17) | (1,200.25) | 686.04 | (1, 418.42) | (2.750.19) | (3, 169.64) | |
| Employee benefits expense$\overline{C}$ | 687.00 | 437.11 | 467.19 | 1,623.58 | 1,288.86 | 1,714.16 | 687.00 | 437.11 | 467.19 | 1,623.58 | 1,288.86 | 1,714.16 | |
| (d) Finance costs | 206.10 | 32162 | 263.24 | 778.55 | 483.58 | 797.62 | 206.10 | 162.32 | 263.24 | 778.55 | 483.58 | 797.62 | |
| (e) Depreciation and amortization expense | 287.44 | 216.44 | 284.97 | 854.78 | 638.99 | 863.93 | 287.44 | 216.44 | 284.97 | 854.78 | 638.99 | B63.93 | |
| (f)] Other expenses | 2,411.22 | 3961,935 | 2,031.96 | 6,527.09 | 5.727.14 | 8,459.29 | 2.411.22 | ,935.96 | 2.031.96 | 6,527.09 | 5,727.14 | 8,459.29 | |
| Total Expenses (IV) | 15,908.53 | 16,133.57 | 14,775.38 | 45,287.25 | 41,286.84 | 58,861.13 | 15,908.53 | 16,133.57 | 14,775.38 | 45,287.25 | 41,286.84 | 58,861.13 | |
| $,>$ | Profft (Loss) before exceptional items and tax (III$\boldsymbol{\Sigma}$ | 744.66 | $915 | 727.47 | 2, 134. 12 | 1,982.19 | 2,915.96 | 744.66 | 915.49 | 727.47 | 2,134.12 | 1,982.19 | 2,915.96 |
| $\overline{>}$ | Exceptional items | 奘 | it. | ٠ | O, | ü. | ĭ. | Ø, | |||||
| $\equiv$ | Profit (Loss) after exceptional items but beforetax $(V+V)$ | 744.66 | 6V915 | 727.47 | 2,134.12 | 1,982.19 | 2,915.96 | 744.66 | 915.49 | 727.47 | 2,134.12 | 1,982.19 | 2,915.96 |
| $\equiv$ | Tax expense | ||||||||||||
| (I) Current Tax | ٠ | $\theta$ | $\lambda$ | ÿ. | $\mathbf{r}$ | ŧ. | ۲. | ٠. | |||||
| (II) Deferred Tax | $\bar{\epsilon}$ | $\overline{\mathbf{r}}$ | × | t, | $\mathsf{E}$ | $\mathcal{A}$ | 47.191 | χŧ, | |||||
| Total Tax expense | $\theta$ | ||||||||||||
| $\geq$ | Profit / (Loss) for the period from continuing$(VII - VIII)$operations | 744.66 | 49915 | 727.47 | 2, 134. 12 | 1,982.19 | 2,915.96 | 744.66 | 915.49 | 727.47 | 2,134.12 | 1,982.19 | 2,915,96 |
| $\times$ $\overline{\times}$ | Profit/(Loss) from discontinued operationsTax expense of discontinued operationsDiscontinued operations:- | ٠ | ×18 | $\lambda$ | $r - x$ | ×$\bullet$ | $\pm$× | t 1 | $x = x$ | ||||
| $\overline{\overline{\times}}$ | Profit/(Loss) from discontinued operations (after tax) | ì | k, | $\left(\begin{smallmatrix} 0\0\0\end{smallmatrix}\right)$ | ú. | ||||||||
| $\equiv$ | Profft/(Loss) for the period (IX + XII) | 744.66 | 49915 | 727.47 | 2,134.12 | 1,982.19 | 2,915.96 | 744.66 | 915.49 | 727.47 | 2, 134. 12 | 1,982.19 | 2,915.96 |
| $\geq$ | A. (I) Items that will not be reclassified to profit orOther comprehensive income (OCI): | 0.22 | 38)$=$ | 0.22 | 0.65 | (4.13) | 0.86 | 0.22 | (1.38) | 0.22 | 0.65 | (4.13) | 0.86 |
| (ii) income tax relating to items that will not be | |||||||||||||
| reclassified to profit & loss | × | ×. | $\overline{\mathbf{r}}$ | j. | ۰. | k. | K. 6 | $10 - 1$ | |||||
| B. (I) Items that will be reclassified to profit or loss[ii) Income tax relating to items that will be | × | $\bar{\tau}$$\tau$ | $\ddot{ }$ $\ddot{ }$ | $\boldsymbol{\alpha}$ | |||||||||
| reclassified to profit & loss | ï | i. | ¥ | ä, | ٠ | l. | |||||||
| Total other comprehensive income (XIV) | 0.22 | 38)$\equiv$ | 0.22 | 0.65 | 4.13) | 0.86 | 0.22 | (1.38) | 0.22 | 0.65 | (4.13) | 0.86 | |
| $\gtrsim$ | Total Comprehensive Income (Comprising Profit/(Loss) and other comprehensive income for theperiod) (XIII + XIV) | 744.88 | 914.11 | 727.69 | 2,134.77 | 978.06 | 2916.82NEEDSAR | 744.88$60.$ ** | 914.11 | 727.69 | 2,134.77 | 1,978.06 | 2,916.82 |
PARAMOUNT COMMUNICATIONS LIMITED
C-125, Naraina Industrial Area, Phase-1, Naraina, New Delhi-110028 Ph.: +91-11-45618800-900, Fax No: +91-11-25893719/20
E-mail: [email protected], Website: www.paramountscables.com
CIN : L74899DL1994PLC061295
STATEMENT OF STANDALONE AND CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2019
| STA | INDALONE | CONSOLIDATED | (Rs. in Lakhs) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| S. No. | Particulars | Quarter Ended | Nine month Ended | Year Ended | Quarter Ended | Nine month Ended | Year Ended | ||||||
| 31.12.2019 | 31.12.2018 | 30.09.2019 | 31.12.2019 | 31.12.2018 | 31.03.2019 | 31.12.2019 | 31.12.2018 | 30.09.2019 | 31.12.2019 | 31.12.2018 | 31.03.2019 | ||
| Unaudited | Unaudited | Unaudited | Unaudtted | Unaudited | Audited | Unaudlted | Unreviewed | Unaudited | Unaudlted | Unreviewed | Audited | ||
| $\geq$ | Paid-up equity share capital (Rs. 2 per share) | 3,435.68 | 3,435.68 | 3,435.68 | 3,435.68 | 3,435.68 | 3,435.68 | 3,435.68 | 3,435.68 | 3,435.68 | 3,435.68 | 3,435.68 | 3,435.68 |
| XVII | Other Equity | 10,706.21 | 10,706.21 | ||||||||||
| XVIII | Earnings per equity share in Rs. (for continuingoperations): | ||||||||||||
| $(1)$ Basic | 0.43 | 0.53 | 0.42 | 1.24 | 1.20 | $1.74$1.74 | 0.43 | 0.53 | 0.42 | 1.24 | $\overline{05}$ | $1.74$$1.74$ | |
| (2) Diluted | 0.43 | 0.53 | 0.42 | 1.24 | 0.43 | 0.53 | 0.42 | 1.24 | 1.20 | ||||
| $\frac{\times}{\times}$ | Earnings per equity share in Rs. (for discontinuingoperations): | ||||||||||||
| (1) Basic | ١ | r | ¥ | ١ | ٠ | Ŵ | Ì | ٠ | ň | ï | |||
| (2) Diluted | $\mathcal{X}$ | ¥ | f, | ł | ţ. | ł | ł | ¥. | Y) | ||||
| $\frac{1}{2}$ | Earnings per equity share in Rs. (for discontinuing& continuing operations): | ||||||||||||
| $(1)$ Basic | 0.43 | 0.53 | 0.42 | 1.24 | 1.20 | 1.74 | 0.43 | 0.53 | 0.42 | 1.24 | 20 | 1.74 | |
| (2) Diluted | 0.43 | 0.53 | 0.42 | 1.24 | $\overline{20}$ | 1.74 | 0.43 | 0.53 | 0.42 | 1.24 | 20 | 1.74 | |
| Notes: | |||||||||||||
| The aforesaid Financial Results were placed before and reviewed by the Mudit Committee at its med any, 2020 and approved by the Board of Directors at its meeting held on the same date. The Statutory Auditors have carried oreview of these Financial Results. | |||||||||||||
These financial results have been prepared in accordance with the recognition and measurement principles laid down in Ind AS prescribed under section 133 of the Companies Act, 2013 read with the relevant rules issued there principles generally accepted in India $\sim$
Effective April 1, 2013, the Company has adopted Ind AS 116 "leases" using the modified retrospective method. The adoption of this standard increased depreciation expenses and interest expenses by Rs. 46.02 lakhs (Rs. 138. Rs.105.95 Lakhs) and decreased rent expenses by Rs. 66.67 lakhs (Rs. 200.00 lakhs) for the quarter and (nine months) ended December31, 2019 $\omega$
The consolidated firancial results of the Company and its subsidiaries have been prepared as per Ind AS 110 "Consolidated Financial Statements" as notified by the Ministry of Corporate Affairs. $\ddot{a}$
Consolidated figures for the comparative quarter and nine months ended December 31, 2018 as reported in these consolidated financial results have been approved by the Company's board of directors, but have not been subject Auditors. $\overline{5}$
There are no separate reportable segments as per the Indian Accounting Standard (Ind AS-108) on segment reporting $\circ$ $\circ$
The figures have been regrouped/ rearranged wherever considered necessary to facilitate comparison.
**JON-**For PARAMOUNT COMMUNICATIONS (JD By and on behalf of the Board D-my Sanjay Aggarwal Chairman & CEO DIN:00001788
Place : New Delhi Date: 29.01.2020
P. BHOLUSARIA & CO. 26/11, SHAKTI NAGAR,
CHARTERED ACCOUNTANTS DELHI-110 007 Telephones:23841467 Email id: [email protected]
Auditor's Review Report on Quarterly and Year to Date Unaudited Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended
To The Board of Directors of PARAMOUNT COMMUNICATIONS LIMITED
-
- We have reviewed the accompanying statement of unaudited standalone financial results of Paramount Communications Limited ('the Company') for the quarter ended 31°t December 2019 and year to date from 1* April, 2019 to 31 December 2019 ('the statement') attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of SEBI (Listing obligations).
-
- The preparation of the statement in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under section 133 of the Companies Act, 2013 read with rules 3 of Companies (Indian Accounting Standard) Rule, 2015 and other accounting principles generally accepted in India, read with the circular is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to express a conclusion on the statements based on our review.
-
- We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
-
- Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement, prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards ("Ind AS") as specified under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder and other recognized accounting practices and polices has not disclosed the information required to be disclosed in terms of Regulation 33 of SEBI (Listing obligations and disclosure requirements) Regulation, 2015 read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement.
For P. BHOLUSARIA & CO. CHARTERED ACCOUNTANTS _-<saa Firm Registration No: 000468N nn MeN
of ht \e) a uM) pm NEA awah Bholusaria
Partner M.No.080691 UDIN: LeeROESI ABA A Eo1g49
Place: New Delhi Date: 29 January, 2020
P. BHOLUSARIA & CO. 26/11, SHAKTI NAGAR, CHARTERED ACCOUNTANTS DELHI-110 007
Telephones:23841467 Email id: [email protected]
Auditor's Review Report on Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations ,2015, as amended
To The Board of Directors of PARAMOUNT COMMUNICATIONS LIMITED
-
- We have reviewed the accompanying statement of unaudited consolidated financial results of Paramount Communications Limited ('the Company') and its Subsidiaries (the Holding Company and its Subsidiaries together referred to as " the Group") for the quarter ended 31st December 2019 and year to date from 1%* April, 2019 to 31st December 2019 ('the statement') attached herewith, being submitted by the Parent Company pursuant to the requirement of Regulation 33 of SEBI (Listing obligations and disclosure requirements) Regulation, 2015, as amended.
-
- The preparation of the statement in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under section 133 of the Companies Act, 2013 read with rules 3 of Companies (Indian Accounting Standard) Rule, 2015 and other accounting principles generally accepted in India, read with the circular is the responsibility of the Parent Company's Management and has been approved by the Parent's Board of Directors. Our responsibility is to express a conclusion on the statements based on our review.
-
- We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
We have also performed he procedures in accordance with Circular No. CIR/CFD/CMD1/44/2019 dated March 29, 2019 issued by the Security and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.
-
- The statement includes the result of: Subsidiaries: Paramount Holdings Limited AEI Power Cables Limited
-
- The accompanying statement includes interim financial results and other financial information of 2 Subsidiaries which reflects total revenue of Rs. NIL, net profit after tax of Rs. NIL and total comprehensive income of Rs. NIL for the quarter ended 31st December 2019 and for the period from 1s¢ April, 2019 to 31st December 2019 r. spectively, which are certified by management.
According to the information and explanation given to us by the management, these interim financial results and other financial information are not material to the group. Our conclusion on the statement is not modified in respect of the above matter.
- Based on our review conducted as above and procedures as performed as stated in Paragraph 3, and based on the consideration of matters referred to in Paragraph 5 above nothing has come to our attention that causes us to believe that the accompanying statement, prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards ("Ind AS") as specified under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder and other recognized accounting practices and polices has not disclosed the information required to be disclosed in terms of Regulation 33 of SEBI (Listing obligations and disclosure requirements) Regulation, 2015 read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement.
For P. BHOLUSARIA & CO. CHARTERED ACCOUNTANTS Firm Registration No: 000468N
Pawan Bholusaria Partner M.No.080691
Place: New Delhi
Date: 29 January, 2020 UDIN: DOOROLIAAMAAE 2 Yo |