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<in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">1) The above Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on August 13, 2020.  n2) The Company has only one reportable primary segment, viz. 'Bearings and Components'. Accordingly, no separate disclosure of segment information has been made.  n3) The global pandemic, COVID-19 has severely impacted many local economies around the globe. Disruptions to businesses across India and globe caused by the pandemic, resulted in an economic slowdown worldwide. The Company's manufacturing operations and its distribution centers were suspended for part of the quarter due to the nationwide lockdown which was announced by the Government of India in view of COVID-19. The company’s facilities resumed operations in a phased manner, aligned with directives from various concerned authorities from time to time, prioritising the health and safety of all associates across the value chain including its key stakeholders. The results for the quarter are, therefore, not comparable with those for the previous quarters.  nThe Company has evaluated impact of COVID-19 pandemic in assessing the recoverability of property plant and equipment (including Capital work in progress), goodwill, intangibles, inventories and receivables based on its review of current indicators of future economic conditions. The Company continues to focus on maintaining its liquidity and expects a gradual recovery of demand and supply in future months. Based on such assessment, the Company expects to recover carrying values of such assets. The impact of COVID-19 on the Company’s financial results may differ from that estimated as at the date of approval of these statements and the Company will continue to closely monitor any material changes to future economic conditions and assess its impact on operations.</in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock>
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