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| Exchange Received Time 27/07/2018 11:05:53 Exchange Disseminated Time 27/07/2018 11:06:00 Time Taken 00:00:07 | The Company has been currently reporting its Financial statements under the following segments:
1. Project Segment
2. Product Segment
Using the guidance of Ind AS 108 on 'Operating Segments' with respect to review of operating results undertaken by the Chief Operating Decision Maker (CODM) at the Company level, allocation of resources based on the same and further considering the declining share of turnkey projects in the Company's business, the Board of Directors view that 'Fluid Handling Solutions' more appropriately represents the Company's current business as single reportable segment.
Accordingly, based on the recommendations of the Audit Committee and guidance of Ind AS 108 on 'Operating segments' , the Board of Directors at their Meeting held on July, 27 2018, have approved 'Fluid Machinery and Systems' as single reporting segment.
The aforesaid change is getting reflected in the Financial Statements of the Company for the quarter ended June 30, 2018.
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