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<in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">1 The audited standalone financial results of the Company for the quarter and year ended 31 March 2020 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 26 June 2020 The statutory auditors have expressed an unmodified audit opinion on these results2 The above results have been prepared in accordance with the Indian Accounting Standards IndAS as notified under the Companies Indian Accounting Standards Rules 2015 as amended specified under section 133 of the Companies Act 20133 The Board of Directors at their meeting held on 10 February 2020 had approved an interim dividend of &amp;#8377; 3 per share i.e. 300percent of face value of &amp;#8377; 1 each aggregating to &amp;#8377; 57.49 crores including dividend distribution tax of &amp;#8377; 9.80 crores and the same was subsequently paid to shareholder. In view of the aforesaid interim dividend, the board has decided not to recommended any final dividend and the interim dividend as aforesaid be considered as final dividend for the financial year ended on 31 March 20204 The Company has adopted Ind AS 116 Leases effective 1 April 2019, as notified by the Ministry of Corporate Affairs MCA in the Companies Indian Accounting Standard Amendment Rules 2019 using modified retrospecitve method¿ The adoption of this standard did not have any material impact on the profit of the current quarter and the year ended 31 March 2020</in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock>
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<in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="FourD">5 Due to COVID19 the Company temporarily suspended the operations in all the units of the Company COVID19 has impacted the normal business operations of the Company by way of interruption in production, supply chain disruption unavailability of personnel closurelock down of production facilities, retail outlets of dealers etc However sales¿¿supply of goods have commenced during the month of May 2020 and partial production commenced in June 2020The Company has performed a detailed assessment of its liquidity position and the recoverability of the assets as at the balance sheet date and has concluded that based on current indicators of future economic conditions, the carrying value of the assets will be recovered. Management believes that it has fully considered all the possible impact of known events in the preparation of the standalone financial results However the impact assessment of COVID19 is a continuing process given the uncertainties associated with its nature and duration The Company will continue to monitor any material changes to future economic conditions and the consequent impact on its business if any6 The Companys business primarily falls within a single business segment in terms of the Indian Accounting Standards 108 Operating Segments and hence no additional disclosures are being furnishe7 Figures for the quarter ended 31 March 2020 and 31 March 2019 are the balancing figures between audited figures for the full financial Year and the reviewed year to date figures upto the third quarter of the respective financial years</in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock>
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