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<in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 27th January, 2021.¿The Limited Review of the results for the Quarter &amp; Nine months ended 31st December, 2020 as required under Regulations 33 of the SEBI (Listing Obligations &amp; Disclosure Requirements) Regulation, 2015, has been completed by the Statutory Auditor of the Company.2. The Board of Directors, at its meeting held on 19th March, 2020, approved Buyback of the Company¿s fully paid-up equity shares of face value of Rs. 1 each from the eligible equity shareholders of the Company other than promoters, promoter group and persons who are in control of the company, at a price not exceeding Rs. 300 per equity share (Maximum Buyback price), for an aggregate amount not exceeding Rs. 19,199.43 lacs (Maximum Buyback size), payable in cash from the open market route through the stock exchange mechanism under the Companies Act, 2013 and SEBI Buyback Regulations. The Buyback commenced on 29th March, 2020 and got completed on 9th July 2020.¿The Company has bought back 94,21,498 equity shares¿ under the buy Back by utilising Rs 19,198.73 lacs (excluding brokerage, transactions cost and taxes). All the shares bought back have been extinguished as per the records of the depositories.3.¿The Board of Directors at its meeting held on 27th January, 2021 declared a Second Interim Dividend of 400% i.e Rs. 4/- per equity share of Rs. 1/- each fully paid up. The Company has fixed 5th February, 2021 as the Record Date for the purpose of determining shareholders entitled to receive the said Second Interim Dividend.</in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock>
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<in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="FourD">4. Considering the Dynamic market condition, the management has revised the useful life of Tangible assets related to Moulds from 10 years to 7 years in the current quarter resulting in an increase in depreciation by Rs. 1,203 lacs for the quarter and nine months ended 31st December, 2020. Also, useful life of Intangible assets related to acquired Brands and Trademarks were revised from 10 years to 7 years in the quarter ended September 30, 2020 resulting in an increase in amortisation by Rs. 3,330 lacs and Rs.9,955 lacs for the quarter and nine months ended 31st December, 2020 respectively. 5. The Code on Social Security, 2020 (¿Code¿) relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final rules/interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective. 6. On account of the outbreak of COVID-19 virus, the Government of India had imposed a nation-wide lockdown on March 24, 2020 leading to temporary shut-down of the Company's manufacturing facilities and operations. Since then the Government of India has progressively relaxed lockdown conditions and has allowed industries and businesses to resume operations and the Company has commenced its manufacturing operations across all its plants in a phased manner during the month of April after obtaining permissions from appropriate government authorities. As a result of lockdown, the volumes for the month of April 2020 and May 2020 were impacted and accordingly results of nine months period of 2020-21 are not comparable with previous corresponding nine months of 2019-20 respectively. In view of the highly uncertain economic environment which is continuously evolving on account of</in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock>
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