Scrip_cd: 500878 Audited: Un-Audited Result Type: Q Date Begin: 01-Apr-16 Date End: 30-Jun-16 # (Rs Millions) Net Sales: 14558.10 Other Income: 68.90 Expenditure: -13003.20 Interest: -245.40 Profit (+)/ Loss (-) from Ordinary Activities before Tax: 1369.70 Tax: -404.80 Net Profit (+)/ Loss (-) from Ordinary Activities after Tax: 964.90 Extraordinary Items: 0.00 Net Profit: 964.90 Equity Capital: 404.50 Reserves: 0.00 EPS (in Rs): 23.85 Number of Public Shareholding: 0.00 Percentage of Public Shareholding: 0.00 Exceptional Item: -8.70 Face Value (in Rs): 10.00 Profit from Operations before Other Income, Interest and Exceptional Items: 1554.90 Profit before Interest and Exceptional Items: 1623.80 Profit after Interest but before Exceptional Items: 1378.40 % of the total of promoter & promoter group: 0.00 % of the total share capital of the company: 0.00 Non-encumbered Number of Shares: 0.00 % of the total of promoter & promoter group: 0.00 % of the total share capital of the company: 0.00 Stock Market Quotes, Business News, Financial News from http://commodity-market-news.com
1. The Company adopted Indian Accounting Standards (“Ind AS”) and accordingly the financial results for all periods presented have been prepared in accordance with the recognition and measurement principles laid down in the Ind AS 34 Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and the other accounting principles generally accepted in India. The date of transition to Ind AS is April 1, 2015. There is a possibility that these quarterly financial results may require adjustment before constituting the final Ind AS financial statements as of and for the year ending March 31, 2017 due to changes in financial reporting requirements arising from new or revised standards or interpretations issued by Ministry of Corporate Affairs or changes in the use of one or more optional exemptions from full retrospective application of certain Ind AS as permitted under Ind AS 101.
2. The above results were reviewed by the Audit Committee and thereafter approved by the Board of Directors at its meeting held on July 28, 2016.
3. During the quarter, the Company made an additional investment of Rs 1,000 lacs in CEAT Specialty Tyres Limited, its wholly owned subsidiary company, by subscribing to 10,00,000 equity shares of Rs 10 each fully paid up at a premium of Rs90 per share.
4. The Company had introduced a Voluntary Retirement Scheme (VRS) for its employees. The compensation in respect of employees who opted for VRS aggregated to Rs 87 Lacs for quarter ended June 30, 2016.
5. Reconciliation between financial results previously reported (referred to ‘Previous GAAP’)and ind AS in presented as under:(For Table, kindly refer Corporate Announcements on www.bseindia.com.)
6. As the Company’s business activity fall within a single operating segment, viz. “Tyres”, no separate segment is disclosed.
7. The figures have been regrouped / rearranged wherever considered necessary to conform to current period’s classification and grouping.
Anant Vardhan Goenka