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<in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">1. This statement has been reviewed by the Audit Committee and recommended for approval to the Board and the Board approved at its meeting held on May 7, 2019.  n  n2. Effective January 1 2019, the Company has adopted IND AS 115, “Revenue from Contracts with customers”. The Company has adopted the aforesaid standard retrospectively with a cumulative impact of Rs. 9.76 Crores (net of tax impact Rs. 5.24 Crores) credited to the retained earnings as on January 1, 2019. Accordingly, the comparatives are presented, as previously reported, under earlier revenue recognition standards.  n  n3. The Board at its meeting held on February 13, 2019 granted in-principle approval for the segregation of the Company’s Power Grids business from the other businesses of the Company. Consequently, in pursuant to the requirements of Ind AS 105 – Non Current Assets held for Sale and Discontinued Operations, the Company has classified the assets and liabilities as at  December 31, 2018 and March 31, 2019 pertaining to the Power Grids Business as Assets / Liabilities held for sale and measured the same at lower of cost and fair value (fair value less costs to sell).  The Financial results of Power Grids business are presented as discontinued operations in the current and prior periods presented.   n  nOn March 5, 2019, the Board of Directors of Company approved the Scheme of Arrangement amongst the Company and ABB Power Products and Systems India Limited (APPSIL) (a newly incorporated wholly owned subsidiary of the Company) for Demerger of Company’s Power Grids business to APPSIL (“Demerger”). The Scheme of Arrangement is subject to approval of Shareholders and Creditors of the Company and APPSIL and also subject to sanction by National Company Law Tribunal.  n  n4. ABB Power Products and Systems India Limited (APPSIL) was incorporated on February 19, 2019 as a wholly owned subsidiary of ABB India Limited. However, there are no transaction in APPSIL during the quarter ended March 31, 2019. Therefore, the above, financial results for the quarter ended March 31, 2019 are for the standalone financial statements for ABB India Limited.  n  n5. The figures of the previous year/ periods have been regrouped/ reclassified, wherever necessary.</in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock>
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