Background and nature of Operations
Active Clothing Co Limited (The Company) is a Public Company Incorporated under the provisions of Companies Act,1956 on 27.02.2002 . The Company is engaged in Manufacture of designer woolen, cotton readymade garments.
1. IMPAIREMENT OF ASSETS:
In accordance with the Accounting Standard (Ind AS)-36 on “Impairment of Assets” the Company has assessed as on the balance sheet date, whether there are any indications (Listed in paragraphs 8 to 10 of the Standard) with regard to the impairment of any of the assets. Based on such assessment it has been ascertained that no potential loss is present and therefore, formal estimate of recoverable amount has not been made. Accordingly no impairment loss has been provided in the books of account.
2. EARNING PER SHARE
The calculation of Earning Per Share (EPS) as disclosed in the statement of profit and loss has been made in accordance with Accounting Standard (Ind AS)-33 on “Earning Per Share” issued by Companies (Accounting Standard) Rules, 2006.
A statement on calculation of basic EPS is as under
*Weighted average number of equity shares have been calculated on the number of days the IPO proceeds were ploughed in business.
3. RELATED PARTY DISCLOSURE
(a) Disclosure of Related Parties and relationship between the parties.
1. Subsidiaries NIL
2. Associates Again Lifestyle Pvt. Ltd.
3. Key Management Personnel
4. The Information required by paragraph 5 of general instructions for preparation of the statement of profit and loss as per revised Schedule -III of the Companies Act, 2013.
5. Previous year figures have been regrouped/reclassified wherever necessary to correspond with the current year classification/disclosure.
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