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ee Ind-Swift Limited Lo. ‘781, Industrial Area, Phase-ll
Chandigarh - 160002 INDIA . Ph. : 0172- 4680800, 2638781
uncertainty exists related to events or conditions that may Cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.
e Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other Matter
The Statement includes the results for the quarter ended March 31, 2020 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2020 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.
4 Due to NPA status of acounts of the Company, one of the bank is not charging interest in the account of the Company and also not providing account
Statement to the Company. Due to this interest liability for the quarter has not been provided in the books of accounts. The same will be provided at the time
of settlement/charging of interest by bank in account.
2 Exceptional/ Extraordinary items for this gir includes waiver of principal and interest on loan for Rs. 640.02lacs (Year ending Rs.640.02 lacs)
3 Effective April 1, 2019, the Company adopted Ind AS 116, Leases and applied the standard to all lease contracts existing on April 1, 2019 using the modified
retrospective method and has taken cumulative adjustment to retained earnings, on the date of initial application. Accordingly, comparatives of 31st march
2019have not been retrospectively adjusted. On transition, the adoption resulted in initial recognition of Right-of-use assets (ROU) of Rs.13.08 lacs and a
lease liability of Rs. 18.37 lakhs.
4 In March 2020, the World Health Organization declared COVID-19 to be a pandemic. The Company has adopted measure to curb the spread of infection in
order to protect the health of its employees and ensure business continuity with minimal disruption. The Company has considered internal and external
information while finalizing various estimates in relation to its financial statement captions upto the date of approval of the financial statement by the
Board of Directors. The actual impact of the global health pandemic may be different from that which has been estimated, as the COVID situation evolves in
India and globally . The Company will continue to cloely monitor any material changes to future economic conditions.
5 The above results have been prepared in accordance with IND-AS prescribed under section 133 of Companies Act,2013.
6 The Company is exclusively in Pharmaceutical business.
7 Previous period/ year figures have been re-grouped/Re-arranged where ever necessary.
3“GEabove financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held o
[7 §. cRandigarh For Ind Swift Ling
5 06.2020 Bo ~te La! Se \(S.R. Mehta) —
Ind-Swittr
Unit 3 Ph.: 01795-662800 - Unit 4 Ph.: 01795-645431 CHAIRMAN ,
STATEMENT OF ASSETS AND LIABILITES
ACCREDITED
MANAGEMENT SYSTEMS CERTIFICATION BODY
(~ in Lacs)
PARTICULARS AUDITED YEAR | AUDITED YEAR
ENDED ENDED
31.03.2020 31.03.2019
A ASSETS
1)Non-Current Assets
(a) Property,Plant and Equipment 25231.06 27048.43
(b) Right of Use- Land 128.34 -
('c) Other Intangible assets 1607.03 2007.12
(d) Financial Assets
(i) Investments 2405.96 4126.39
(ii) Other non-Current Financial assets 7925.77 7294.71
(ii) Other non-current assets 1.53 14.57
2|Current assets
(a) Inventories 5240.52 4899.53
(b) Financial Assets
(i) Trade receivables 9416.68 7556.05
(ii) Cash and Cash equivalents 1675.86 1972.15
(iii) Other Current assets 6531.88 4923.42
Total Assets 60164.63 59842.37
B EQUITY AND LIABILITIES
EQUITY
(a) Share Capital 1083.29 1083.29
(b) Other Equity (72395.03) (68757.12)
LIABILITIES 4|Non-current liabilities
(a) Financial Liabilities
(i) Borrowings 64421.47 64467.39
(ii) Lease Liability 18.23 -
(iii) Provisions 871.92 736.05
(iv) Other non-current liabilities 752.16 725.99
Defferred Tax Liability (Net) - -
2|Current liabilities
(a) Financial Liabilities
(i) Borrowings 37055.85 36387.91
(ii) Lease Liability (current) 0.99 -
(iii) Trade Payables 22622.38 19883.02
(iv) Other Current Financial Liabilites 1617.02 1302.64