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<in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">1tThe above unaudited consolidated financial results were reviewed by the Audit Committee and thereafter approved at the meeting  of  the Board of Directors held on 11th February, 2019. The auditors have issued an unqualifed Audit opinion on these results.tttttttttt  n2tThe above consolidated financial results of the Group have been prepared in accordance with the Indian Accounting Standards ( Ind AS ) as prescribed under section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standard) Rules, 2015, as amended.tttttt  n3tEffective April 1, 2019, the Company has adopted Ind AS 116 'Leases' which sets out the principles for recognition, measurement, presentation and disclosure of leases and requires lessees to account for all leases under a single on-balance sheet model. Under the modified retrospective approach, as at 1 April 2019, the Company recognized lease liabilities of INR 411.54 lakhs and right-of-use assets of INR 411.54 lakhs. Also the application of Ind AS 116 did not have any significant impact on financial results of the Company.tttttt  n4tSegment reporting: In line with the provisions of Ind AS 108 - operating segments, the operations of the Company fall primarily under manufacturing of  Composite Polymer Insulators and Electric Buses and accordingly considered under  reportable segments by the management.tttttttt  n5tThe above consolidated results are after excluding revenues and profits from sale of buses by the Parent Company to its subsidiaries. The subsidiaries earn revenues by operating these buses for STU's and hence the same are capitalised in the books of susbidiaries . Therefore, the consolidated revenues and profits of the Group are lower than the standalone revenues and profits.ttttttt  n6tThe previous year figures have been regrouped / reclassified, wherever necessary to conform to the current period presentation.</in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock>
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