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| Exchange Received Time 26/05/2017 18:07:36 Exchange Disseminated Time 26/05/2017 18:07:44 Time Taken 00:00:08 | We hereby inform you that at the meeting of the Board of Directors of the Company held today, the Board has approved audited financial statements of the Company for the quarter and year ended 31st March, 2017 which were earlier reviewed by the Audit Committee of the Company at their meeting held on 24th May, 2017.
Pursuant to Regulation 33(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the following:
1. Audited Standalone Financial Results for the quarter and year ended 31st March, 2017 along with Statement of Assets and Liabilities and Auditors' Report thereon.
2. Audited Consolidated Financial Results for the year ended 31st March, 2017 along with Statement of Assets and Liabilities and Auditors' Report thereon.
Pursuant to proviso to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board declares that the above Auditors' Reports are with unmodified opinion with respect to Financial Results (Standalone & Consolidated) of the Company for the year ended 31st March, 2017.
We further wish to inform you that:
(i) The Board has recommended a dividend @ 120% (Rs.6 /- per equity share) on equity shares of Rs. 5/- each, subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company.
(ii) The Board has recommended the appointment of Price Waterhouse & Co., Chartered Accountants LLP having firm registration no. 012754N/N500016 as the new Statutory Auditors of the Company for a period of five years from the conclusion of the Annual General Meeting to be held in 2017 in place of existing Auditors SRBC & Co LLP in compliance with mandatory rotation of Auditors as per the provisions of the Companies Act, 2013. Their appointment is subject to approval of shareholders at the ensuing Annual General Meeting of the Company.
We shall inform you in due course the date on which the Company will hold its Annual General Meeting for the year ended 31st March, 2017 and the date from which dividend will be paid or warrants thereof will be dispatched to the shareholders.
The Board meeting commenced at 2.00 p.m. and concluded at 06.00 p.m.
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