Statement of Audited Results for the quarter and year ended March 31, 2018

Transcription

1 AVON LlFESCIENCES LIMITED CIN:L24110TG1993PLC Regd. Office: Survey No. 18, Yawapur Village, Sadasivpet Mandai, Medak District, Telangana Corp. Office: H Wing, 4th Floor, Tex Centre, Off Saki Vihar Road, Chandivali, Andheri (East), Mumbai Sr. No. Statement of Audited Results for the quarter and year ended March 31, 2018 Quarter Ended (Amount in INR Lakhs) Year Ended PARTICULARS (Audited) (Unaudited) (Audited) (Audited) (Audited) I Income from operations II Other Income III Total Income (1+11) IV Expenditure (a) Cost of raw material consumed (b) Purcha ses of stock-in-trade (c) Employee benefits expense (d) Finance Cost , , (e) Depreciation and Amortisation expenses (f) Other Expenses Total Expenses , , V Profit (Loss) before Exceptional Items and Tax (III-IV) (601.39) (580.75) (13.44) (2,392.42) (1,923.85) VI Exceptional items VII Profit (Loss) before Tax (V-VI) (601.39) (580.75) (13.44) (2,392.42) (1,923.85) VIII Tax expenses (a) Current Tax (b) Deferred Ta x IX Net Profit (Loss) after tax (VII-VIII) (601.39) (580.75) (13.44) (2,392.42) (1,923.85) X Other Comprehensive Income (i) Items that will not be reclassified to Profit or Loss XI Total Comprehensive Income for the period (IX+X) (601.39) (580.75) (13.44) (2,392.42) (1,923.85) XII Paid-up equity share capital 2, XIII Other Equity (6,633.03) (4,240.60) XIV Earnings Per Share (Basic and Diluted) (2.52) (2.44) (0.06) (10.04) (8.07) Notes: Notes : 1 The audited financial statements for the quarter and year ended March 31, 2018 have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on May 30, The information presented above is extracted from the audited financial statements. The financial statements are prepared in accodance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder. 2 These Financial Statement are company's First Ind AS Financial Statement. Th e Company has adopted all the Ind-AS Standard and adoptions were carried out in accordance with Ind-AS First time Adoption of Indian Accounting Standard. The Transition was carried out from Indian Accounting Principles genera lly accepted in India as pre scribed under Sec 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules, 2014 (IGAAP), which was the previous GAAP.

2 AVON LlFESCIENCES LIMITED CIN:L24110TG1993PLC Regd. Office: Survey No. 18, Yawapur Village, Sadasivpet Mandai, Medak District, Telangana Corp. Office: H Wing, 4th Floor, Tex Centre, Off Saki Vihar Road, Chand iva Ii, Andheri (East), Mumbai The Company operates only in one Business Segment i.e. manufacturing Bulk Drugs, hence does flot have any reportable segments as per Indian Accounting Standard (Ind AS)-108 "Operating Segments". 4 The format of the above financial results is as specified in SEBI's Circular ClR/CFD/CMD/1S/201S dated 30 November 201S read with SEBI's Circular CIR /CFD /FAC/62/2016 dated S July 2016 issued in connection with first time transition to IND-AS. S The number of investor complaints at the beginning and pending at the end of the Quarter were Nil. 6 The figures of previous period / year have been regrouped / rearranged wherever necessary / practicable to conform to current period/year presentation. 7 The figures of quarter ended March 31, 2018 and March 31, 2017 are the balancing figures between audited figures in respect of full financial year and published year-to-date figures upto the third quarter of of the year ended March 31,2018 and March 31, 2017 respectively. 8 Reconciliation of Net Profit as previously reported under Indian GAAP to Ind AS for the year ended March 31,2017 is as under: S.N. Particulars For the For the year quarter ended March 31, 2017 ended March 31, 2017 Net Profit after Tax for the Period (as per Indian GAAP) (13.44) i Fair Valuation of Financial Liabilities ii Acturial (gain)/ Loss on employee defined benefit obligations recognised in Other Comprehensive Income iii Prior period item iv Other adjustments v Deferred Tax impact of above adjustments Net profit for the Quarter (as per Ind-AS) Other comprehensive Income (net of tax) Total Comprehensive Income (13.44) (1,923.85) (1,923.85) 8 Reconciliation of total equity as previously reported under Indian GAAP to Ind AS for the year ended March 31, 2017 is as under: S.N. Particulars For the year ended March 31, 2017 i ii Total Equity (as per Indian GAAP) Fair Valuation of Financial Liabilities Deferred Tax impact of above adjustments Total Equity (as per Ind AS) By order of the Board For AVON LlFESCIENCES LIMITED Mumbai 30-May-18

3 AVON lifesciences LIMITED CIN: TG1993PlC Regd. Office: Survey No. 18, Yawapur Village, Sadasivpet Mandai, Medak District, Telangana Corp. Office : H Wing, 4th Floor, Tex Centre, Off Saki Vihar Road, Chand iva II, Andheri (East), Mumbai BALANCE SHEET AS AT MARCH Particulars March 31, 2018 (Amount in INR lakhs) March 31, 2017 AS5ETS Non-Current Assets (a) Property, Plant and Equipment (b) Capital Work-in-Progress (c) Investment Property (d) Goodwill (c) Other Intangible Assets (f) Intangible Assets Under Development (c) Financial Assets (i) Investments (ii) Trade Receivables (ii) loans (ii) Others (e) Deferred Tax Asset (Net) (d) Other Non-Current Assets 7, , , , , , Current assets (a) Inventories (b) Financial Assets (i) Investments (ii) Trade Receivables (iii) Cash and Cash Equivalents (iv) Bank Balances Other than (iii) above (v) loans (vi) Others (c) Current Tax Assets (Net) (c) Other Current Assets 5, , , S, , , TOTAL 24, , EQUITY AND LIABILITIES Equity (a) Equity Share capital (b) Other Equity liabilities Non Current Liabilities (a) Financial liabilities (i) Borrowings (ii) Trade Payables Micro, Small and Medium Others (ii) Other Financial liabilities (b) Provisions (c) Deferred Tax liabilities (Net) (c) Other Non-Current liabilities (6,633.03) (4,250.53) 4, , (4,240.60) (1,858.10) 5, , Current liabilities (a) Financial liabilities (i) Borrowi ngs (ii) Trade Payables Micro, Small and Medium Others (iii) Other Financial liabilities (b) Other Current liabilities (c) Provisions (d) Current Tax liabilities (Net) 13, , , , , , , , TOTAL 24, ,222.31

4 AVON LIFESCIENCES LIMITED (Formerly known as Avon Organics Limited) Office: 'H' Wing, 4th Floor, Tex Centre, Off Saki Vihar Road, Chandivali, Andheri (E), Mumbai , INDIA. Tel. : Fax : info@avonlifesciences.com Website : (CIN : L24110TG1993PLC16112) N DECLARA TION [Pursuant to Regulation 33 (3)(d)of SEBI (Listing Obligation and Disclosure Requirement) (Amendment) Regulations, 2016) I, Rajendra Kaimal, Director of Mis, Avon Lifesciences Limited, having its Corporate Office at H Wing, 4th Floor, Tex Centre, Chandivali, Andheri(E), Mumbai , Maharashtra, do hereby declare that Mis. N.G. Jain & Co, Statutory Auditors of the Company have carried out audit of the Financial Statements of the Company for the year ended 31 st March 2018 and have issued an Audit Report with unmodified opinion. Yours sincerely, For Avon Lifesciences Lim ~akaima Director Mumbai May 30, 2018 Regd. Office : Survey No. 18, Yawapur Village, Sadasivpet Mandai, Medak Dis!., Telangana Works : E-2, MIDC, Chincholi, Solapur, Maharashtra Tel Fax :

5 01. :MuRgsfi :Mefita B Com. F.C A. OI.5fiantifafjain B. Com FC A 01. Prince 'Kothari B Com AC,A N. G. JAIN & CO. CHARTERED ACCOUNTANTS 320, Hammersmith Ind. Premises Co op. Soc. Ltd., Narayan Pathare Marg, Off. Sitladevi Temple Road, Mahim (West), Mumbai Office Phone : INDEPENDENT AUDITORS' REPORT To, Board of Directors of Avon Lifescienccs Ltd Auditor's report on Financial Results of Avon Lifesciences Limited pursuant to the regulation 33 the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 We have audited the accompanying statement of financial results (the statement) of Avon Lifesciences Limited ("the Company") for the quarter and year ended March 31, 2018, attached herewith, being submitted by the company's manageil1ent pursuant to the requirement of Regulations 33 of the SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015, read with SEBI Circular No, CIRlCFD/FAC/62/2016 dated July 5, The Statement includes the results for the Quarter ended March 2018, being the balancing figure between audited figures in respected of the full financial year and the published year to date figures up to the third quarter of the full financial year which were subject to limited review by us. Our responsibility is to express an opinion on these financial results based on our review of the financial results for the quarter and year ended March 31, 2018 which was prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standards (Ind AS) specified under Section 133 Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India; our audit of the financial statements as at and for the year ended March 31,2018; and the relevant requirements of the SEBI Regulations. We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we comply with ethical requirements and plan and perform the aud it to obtain reasonable assurance about whether the financial results are free of material misstatements. An audit includes examining, on test basis, evidence supporting the amounts disclosed as financial results. An audit also includes assessir:; the accounting principles used and significant estimates made by management. We believe that our audit evidence we have obtained is sufficient and appropri ate to provide a reasonable ilasis for our audit opinion. E mail : info@ngjain.com Web : j '

6 Based on our audit conducted as above, in our opinion and to the best of our information and according to the explanations given to us these financial results: (i) (ii) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIRJCFDIF AC/62/20 16 dated July 5,2016; and give a true and fair view in conformity with the aforeside accounting standards and other accounting principles generally accepted in India of the net loss and other financial information of the company for the quarter ended March 31, ForN GJAIN & Co Chartered Accountants i olf Prince Kothari Membership No.: FRN No.: W ptace: Mumbai Date: 30,h May 2018