Gontermann Peipers India Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2007, the Auditors of the Company have made the following observations:
1. Sales are net of claims aggregating to Rs 21.23 lacs for the quarter ended December 31, 2007 hut include foreign exchange fluctuation Rs 46.01 lacs.
2. Leave and gratuity liabilities are provided on estimated basis.
3. In determining the Segment results, joint expenses are allocated to the two business segment of the Company by the management on percent basis which in the opinion of the management is reasonable, as both the products are manufactured in combined Facilities and sold by the combined sales force however all other segment expenses are directly attributable to the segments.
The basis of allocation of joint expenses is not comparable with that during the corresponding period in the previous year.
Such changes can have a significant impact on the segment information reported, but will not change aggregate financial information. The financial impact of such change on segment information is not reasonably determinable.
1. Sales are net of claims aggregating to Rs 21.23 lacs for the quarter ended December 31, 2007 hut include foreign exchange fluctuation Rs 46.01 lacs.
2. Leave and gratuity liabilities are provided on estimated basis.
3. In determining the Segment results, joint expenses are allocated to the two business segment of the Company by the management on percent basis which in the opinion of the management is reasonable, as both the products are manufactured in combined Facilities and sold by the combined sales force however all other segment expenses are directly attributable to the segments.
The basis of allocation of joint expenses is not comparable with that during the corresponding period in the previous year.
Such changes can have a significant impact on the segment information reported, but will not change aggregate financial information. The financial impact of such change on segment information is not reasonably determinable.
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