Poly Medicure Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2021
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2021
1. The above audited standalone and consolidated results were reviewed and recommended by the Audit Committee & approved by the Board of Directors at their respective meetings held on 24th May, 2021. The statutory auditors have expresses - unmodified audit opinion on these standalone and consolidated financial results.
2. The standalone and consolidated financial results have been prepared in accordance with the principles and procedures of Indian Accounting Standards ("Ind AS") as notified under the Companies (Indian Accounting Standards) Rules, 2015 as special in Section 133 of the Companies Act, 2013.
3. The Consolidated audited Financial Results of the Company and its Foreign Subsidiaries/Indian subsidiary ("Group") and associate have been prepared as per IND AS 110 "Consolidated Financial statements and IND AS 28 on Investment in Associates" The following entities have been considered in Consolidated quarterly/yearly audited financial results. # Poly Medicure (Laiyang) Co. Ltd - Wholly owned Subsidiary (Audited) # Poly Medicure B V - Netheriands(Consolidated) - Wholly owned Subsidiary (Management certified) # Plan 1 health India Pvt Ltd.- Wholly owned Subsidiary (Audited) # Ultra for Medical Products Co.(fUMIC) Eovot - Associate (Audited)
4. During the year ended 31 March 2021, 62,550 (net of lapse) equity shares at a face value of Rs 5 each have been granted to eligible employees in pursuance of Employees Stock option scheme 2020 at an exercise Price of Rs. 100 per Shares . 5. The annual financial results include the results for the quarter ended March 31,2021 being the balancing figures between the audited figures in respect of full financial year and the published unaudited year to date figures upto the third quarter of the current financial year.
6. 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 medical devices, which is considered to be the only reportable segment by the management.
7. The Board of directors of the Company has recommended a dividend of Rs. 2.50 per share subject to the approval of shareholders of the Company in Annual general meeting.
8. The Company continues to monitor the impact of COVID 19 on its business including its impact on customers, supply chain etc. Due care has been exercised in concluding on significant accounting judgement and estimates including in relation ,o recoverability of receivables, inventory and other financial assets based on information available to date while preparing the Company's financial results as of and for the quarter and year ended 31 March 2021.
During the quarter/year ended 31st March, 2021, the company has issued 76,33,587 equity shares of Rs 5/- each at premium of Rs. 519/- each (Issue Price per share Rs. 524/- each) amounting to Rs.40,000 lacs to Qualified Institutional Investors on QIP basis. The proceeds of QIP have been utilized as per details given below: