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© /Global <==» Ww Ref:-GVHLJUFR-0916/8SE/2016-17 Date: - 10" November, 2016 To, The Assistant General Manager, Listing Department, Bombay Stock Exchange Limited, 1 Floor, Rotunda Building, Dalal Street, Mumbai - 400 001 Kind Attention: - The Assistant General Manager, Designated Fax No.:- 22723121/1278/ 3354 22722037/39/41/61 Dear Sir/Madam, helicorp Hangar No. C-HelHf, Airports Authority of india, Civil Aerodrome, Juhu, Mumbai - 400 056. INDIA Tel, :491-22-6140 9200 / 201 Fax :+91-22-6140 9253 Email: globalhelicorp@gvhi.net www.globalhelicorp.com Corporate Identification No, (CIN): Lsz2000L1998PL0093225 SUB:-SUBMISSION OF UNAUDITED FINANCIAL RESULTS ALONG WITH REVIEW REPORT FOR THE QUARTER AND SIX MONTHS ENDED 30™ SEPTEMBER, 2016. Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we submit herewith unaudited financial results for the quarter ended and six months ended 30" September, 2016 which were approved by the Board of Directors of the Company at its Meeting held today, that commenced at 11.00 a.m. and concluded at 4.30 pm, ‘Also please find the enclosed Review Report by our Auditors, M/s B S R & Co. LLP in respect of the above results Thanking you, ‘Yours faithfully, For Global Vectra Helicorp Limited Raakesh Soni Company Secretary ENCL: - AS ABOVE me: cameo i Rog. Ofce: A54, Kailash Colony, New Delhi- 110 048, INDIA, GLOBAL VECTRA HELICORP LIMITED “xpos ie Hangar No. CLE ieprs Atha fi, Civil Aco Ju, Mua 400056 squsteed OTe :A- $4, Kailash Colony, New Dethi 110 048 STATEMENT OF UNAUDITED FINANCIAt ony HORE if RESULTS FOR THE QUARTER AND SIN MONTHS ENDED 30 SEPTESIBER 20167 (sie lakhs) = Paricas Ron Sms — [Corresponding] Vear to date | Venr date] Previous year : ned fnued | Smonths | figures for ended ended inthe | current period previous yar | ended SERIA | TRE TOT AO September | SOSeptenber [IO September [31 March 2016 21s Fit 2018 216 (Unaudited) | (Unaudited) | (Unaudited) (Unaudited) | (Unaudited) audited) T [income fom operations a) Revenue rom operations axor29| snore) —sori9e | rsans07 | ieztoo | 35.201.65 oy Other operating come rive 1012 632 2128 Ml 3659 otal income from operations SET [aaa [so | || 2 fiapenuitare ferns Denis expenss tanas| asa] L797 wal aarvo9] 2080.17 i Tecopae maintenance (ee note A Was] toenos| — taasas| 312375] oma] 5.90057 je) lelcoper es els pire] sets] 2seoar| —a9r727 | 42606) 9885.16 Wor Other expenses tere 8) te | esoss| —too73| —sostos]—— 3aneo7 | agnaxs i orig currency eschange (ain 108 (2) Minvsa aa} aoa va emia] 7838 Ki Depreciation Wea] groas | 73205 f — tovsis | nee | 3.016 Total expenditure EATEEI 8722.08 8,750.66, 16,536.95 17,378.98 | 33,757.86 + Poi pean befor ter income, yooso| rose | (32.46) 1.70836 ores] 1980.36 eance cout cxapions tes, rae prio 4 Jovnsrincome pas] sau] 26508 usss0] owas) satu 5 pri ro nina activities efor ance rss} soos} noize} 2173.66 stds [ese excel ems. prior period items an 6 fina ots asiss] aoa] 28392 1469 wos) 1.50058 7 [pra am xin atv ate ae costs soas{ aoa | range | tass7 | 296364) 904.06 ftir excepts, pre pero iss a 4 fosceonat items « - | uamon| - uassun} 133807 9 Jpn en eins sets before pr period goros| ssa] soy | asso | neat] 2.86899 10 fie period items ter te 6 (3545) 635.4) . 11 fr oir ete etre ax aoros| 301d) 39089 Lease? so 12 faxespans (tera?) ust 2033) 35850 rset) 127537 15 fot ot Pom tina ates ter out su ny sore) 1292 11 fester aso oF expe) : 2 = : : 15 Nets orth pid wir as =D a wax | OE 16 fail up eit shar xpi Taoo00| awww] vawwoo] —Lavo.oo} —L4o000] 1.10000 17 fesrve ecting evasion eserves per : “ 209.7 ota ct ofthe previous acoanting Ye as sings Pr stare csi extrinaey ar Re cach (tanned) Ui Base asx use osu S46 Lot oe @yDikie 38 088 ost] 34% es on | ote Hi vac ais Una as ase wss) sas tot on | Jospin ___ SIGNED FOR IDENTIFICAHON —*# 1054) 5.46 sei] __o22 BY As Pex our, a BSR&CoO.LLP eviews vert glitel |eNNE MBE ul Notes: 1 “The above results have been reviewed by the audit committee and thereafter approved by the Board of Directors at its meeting held on 10 November 2016. The Statutory Auditors of Global Vectra Helicorp Limited (the Company’) have carried outa limited review of the above results pursuant to Regulation 433 ofthe Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. 2 The Company is engaged in providing helicopter services in India, which is considered as one business segment. There ae no Separate reportable segments as per Accounting Standard (AS) 17, 3 During the year ended 31 March 2009, the Office ofthe Commissioner of Customs (Preventive) had seized three helicopters for alleged non-compliance of the duty waivers given to non-scheduled Gperators (passenger). The Company had recived a Show Cause Cum Demand Notice (SCN) citing gh amount of Rs 2,379.24 lakhs (previous year: Rs 2,379.24 lakhs) towards custom duty under Section 38 of the Customs Act, 1962 and applicable interest and penalty thereon. Pursuant tothe receipt of the said SCN, the Commissioner of Customs (Preventive) had confirmed a demand of Rs 2,621.95 lakhs (previous year: Rs 2,621.95 lakhs) towards differential duty of customs and penalty thereon fortwo helicopters. The management believes thatthe Company is in compliance with the relevant customs and other regulatory guidelines inthis respect, based on a decision in the previous year from Custom racine and Service Tax Appellate Tribunal (CESTAT) West Zonal Bench, in favour of the Company ‘on asimitar matter and on an opinion ftom an external legal expert and the demand being contested by the Company’ will be set aside by the higher appellate tribunal. An amount aggregating Rs 538.26 lakhs (previous year: Rs 538.26 lakhs) has been paid as duty under protest during the year ended 31 March 2010 4 ‘The Comparny has adopted the revised Accounting Standard 10 - Property, Plant and Equipment with effect from 1 April 2016 pursuant to the notification of Ministry of Corporate ATalrs. Accordingly, items of inventories (stores and spares) which are in the nature of propery, plant and equipment have been capitalised and are being depreciated over the estimated useful life. Consequently, helicopter maintenance expenses are lower by Rs 239.45 lakhs and profit before tax is higher for the period ended 30 September 2016 by Rs 236.24 lakhs. the Company had received revised charges towards licence fees on land from Airports Authority of India (AAI) for the year ended 31 March 2016 amounting to Rs 568.23 lakhs (including Rs 154.35 tnkhs pertaining to 2014-15) and Rs 222.51 lakhs for the period ended 30 September 2016, The Company believes that these demands are not reasonable and has consequently requested for ‘ubitraion and conciliation and has provided for differential revised charges based on managements estimate subject to outeome of arbitration proceedings. 6 Prior period items comprise expenses in respect of helicopter maintenance expenses RS 149.01 aks and helicopter lease rentals Rs 186,42 lakhs pertaining to the previous year. 7 Tax expenses comprises provision for current income tax (based on estimated average effective mnual income tax rate), deferred tax, minimum alternate tax and includes prior year tax adjustments of Rs 118.71 lakhs in the period ended 30 September 2015, Z AS PX cu ie SP & Co. LLP review vereer elated uNeverber 2~ 2iMED FOR IDENTIFICATION 3 Statement of Assets and Liabilities Particulars Asat Asat 30 September 2016 31 March 2016 (Unaudited) (audited) A. EQUITY AND LIABILITIES 1 Shareholders’ funds (@) Share capital 7,993.49 7,993.49 (b) Reserves and surplus 1,549.20 784.91 9,542.69 8,778.40 2.Non current liabilities (2) Long term borrowings 18,734.64 14,662.13 (b) Deferred tax liabilities 3,299.31 2,960.06 (6) Long term provisions 381.85 315.85 22,415.80 17,938.04 3 Current liabilities (@) Short term borrowings 504.13 3,668.05 (b) Trade payables 13,315.16 15,092.90 (©) Other current liabilities 12,447.80 16.389.22 (@ Short term provisions 687.74 37.94 26,954.83 35,708.11 58,913.32 62,424.55 B. ASSETS 1'Non current assets (a) Fixed assets 43,455.03, 44,679.97 (b) Long term loans and advances 3,772.42 3,202.44 (6) Other non current assets 1,269.58 1,956.08 48,497.03 49,838.49 2 Current assets (2) Inventories 1,589.32 1,795.80 (b) Trade receivables 2,278.68 2,958.01 (6) Cash and bank balances 850.91 1,583.55 (a) Short term loans and advances 3,544.34 4,011.57 (©) Other current assets 2,153.08 2237.14 10,416.29 12,586.07 58,913.32 6224.55, 9. The previous periods’ figures have been regrouped to conform to current periods’ classification. for Global Vectra Helicorp hal Place: Mumbai Lt. Gen. (Retd.) SIS Si Date:- 10 November 2016 Chairman NEDFORTOENTIFICATION ps pax guy veview veOrT pleted |e Navembar 2916 ForBS 8 &Co. LLP BSR &Co. LLP Chartered Accountants 5th Floor, Lodha Excelus, Telephone +91 (22) 4345 5300 ‘Apollo Mills Compound Fax +91 (22) 4345 5399 N.M. Joshi Marg, Mahalaxmi ‘Mumbai - 400 011, India Review report To the Board of Directors of Global Vectra Helicorp Limited We have reviewed the accompanying statement of un-audited financial results (‘the Statement’) of Global Vectra Helicorp Limited (‘the Company”) for the period ended 30 September 2016. This Statement is the responsibility of the Company’s Management and has been approved by the Board of Directors in their meeting held on 10 November 2016. Our responsibility is to issue a report on these financial statements based on our review. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India, This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of un-audited financial results prepared in accordance with applicable accounting standards specified under Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it isto be disclosed, or that it contains any material misstatement. We draw attention to note no. 3 to the Statement which more fully explains that, the Company had received an order from the Office of the Commissioner of Customs (Preventive) confirming the demand for differential duty of customs along with penalty aggregating Rs 2,621.95 lakhs. No provision has been made by the Company for the same nor the interest due thereon as at 30 September 2016, as the management believes, based on a decision in the previous year from Customs Excise and Service Tax Appellate Tribunal (CESTAT) West Zonal Bench in favour of the Company on a similar matter and an opinion from an external legal expert, that the demand will be set aside by a higher appellate authority. Our conclusion is not modified in respect of this matter. For BS R& Co. LLP Chartered Accountants Firm's Registration No : 101248W/W-100022 VvWwn DR Vijay Mathur Mumbai Partner 10 November 2016 Membership No: 046476 8588 cote parr sn ni ate ee: Restore Ne 822 coast Siro ae te BSRBco UP Lied obi oorantyp Apt ie Carpourd ‘nein nasa) AR a rg aes

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