KPR Mill 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 standalone financial results have been reviewed by the Audit Committee on 24.04.2018 and taken on record and approved by the Board of Directors at their meeting held on 30.04.2018. The above results have been subjected to audit by the statutory auditor of the Company. The report of statutory auditor is unqualified.
2. These financial results have been prepared in accordance with Indian Accounting Standard ('Ind AS') prescribed under section 133 of the Companies Act, 2013 read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular dated July 5, 2016.
3. The Company operates in one segment (i.e.) Textile business.
4. 14,70,000 Equity Shares of t 5/- each (Representing 1.95% of the total number of paid up equity shares of the Company) was bought back on 13.02.2017 from the shareholders of the Company on proportionate basis through tender offer at a price of ? 660/- per share for an aggregate amount of? 9,702 Lakhs in accordance with the provisions of the Companies Act, 2013 and the SEBI (buyback of Securities) Regulations, 1998.
5. Events after reporting period : a) During the period, after obtaining the approval of the Board of Directors in its meeting held on 22.02.2018, the Buyback of 13,35,000 Equity shares of Rs. 5/- (Representing 1.81% of the total number of paid up equity shares of the Company) from the shareholders of the Company on proportionate basis by way of tender offer route at a price of Rs. 810/- per share for an aggregate amount of Rs. 10,813 Lakhs was initiated in accordance with the provisions of the Companies Act, 2013 and SEBI Buyback of Securities Regulations, 1998, The same was completed on 13.04.2018 b) The Board has recommended a Final Dividend of 15% (Rs. 0.75/- per share of the face value of Rs. 5/- each) for the year 2017¬18 subject to the approval of the Shareholders in Annual General Meeting.
6. *The figures for the quarters ended March 31, 2018 and March 31, 2017 are the balancing figures between the audited figures in respect of the full financial years and the published unaudited year-to date figures upto the third quarter of the respective financial years, which were subjected to limited review.
7. Previous period figures have been regrouped / reclassified, wherever necessary, to conform with the current period classification / presentation.