~ SA~A
SMART LED LIGHTING SOLUTIONS sm1rt power solutions
25th March, 2022
To,
National Stock Exchange of India Limited Exchange Plaza, Plot no. C/1, G Block, Bandra-Kurla Complex, Bandra (E) Mumbai - 400051, Maharashh·a Fax No.: 022-2659 8237/38
NSE Code: SERVOTECH
Re.: Sub.: Clarification for Financial results - SERVOTECH
Respected Sir/ Madam,
We write with reference to the email received from your esteemed office pertaining to the captioned subject, in this connection please find below our humble submissions:
We would like to inform your good office that our Company ("Servotech Power Systems Limited") has adopted the IND AS first-time during Quarter ended 31st December, 2021 and the Financial Results have been prepared in accordance with Indian Accounting Standards ("IND AS") notified Under Section 133 of the Company Act, 2013 read with Companies Rule, 2015 as amended.
Since, this is the First year of the Adoption of IND-AS the Financial results for March, 2021 were not taken into account because of the exemption granted to the Companies in the First year of Adoption of IND AS, vide circular of SEBI CIR/CFD/FAC/62/2016 dated 5th July, 2016 based point no. 2.6.2.(I) The submission ofIns-AS compliantfinancial results for the previous year is not mandatory read with para 2. 7 of the said circular which states that " For listed entities to which the Ind A rules are applicable in sul?Sef! uent phases (beg·inning frn111 the financial 1e11r 2017-18, 201 8-19 and 201 9-20), tlze relaxation s as mentioned in para 2.6 above s71.all nwtatis-mutandis applt1 during their co rreSJ:!.Olldin g first 11ear o[lnd A ~ implem ·ntalion'' .
Also, the same figures of March, 2021 shall be considered while presenting the results for the year ending 2022.
We hope that you find our reply in order and satisfactory. We shall be glad to provide any further clarification/details, should you require the same.
Requesting you to kindly acknowledge and take on records our said submissions.
Thanking You,
WER SYSTEMS LIMITED
TOR
DIN: 00153827
Servotech Power Systems Limited
GIN : L31200DL2004PLC129379
REGISTERED OFFICE: 806, 3th Floor, Crown Heights, Hotel Crown Plaza, Sector-10, Rohini, New Delhi -110085
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