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Ind AS 115- Revenue from contracts with customers: The standard permits two possible methods of transition:
On 28 March, 2018, Ministry of Corporate Affairs (‘MCA’) ʀ Retrospective approach - Under this approach the
has notified the Ind AS 115, Revenue from contracts with standard will be applied retrospectively to each prior
customers. The core principle of the new standard is that an reporting period presented in accordance with Ind AS
entity should recognise revenue to depict the transfer of 8- Accounting Policies, Changes in Accounting Estimates
promised goods or services to customers in an amount that and Errors
reflects the consideration to which the entity expects to be
ʀ Retrospectively with cumulative effect of initially applying
entitled in exchange for those goods or services. Further the
the standard recognised at the date of initial application
new standard requires enhanced disclosures about the nature,
(Cumulative catch - up approach)
amount, timing and uncertainty of revenue and cash flows
arising from the entity’s contracts with customers. The effective date for adoption of Ind AS 115 is financial periods
beginning on or after 1 April, 2018. The Group is evaluating
the requirements of the amendment and it`s effect on the
Consolidated Financial Statements. Integrated Report

Statutory Reports

Consolidated Financial Statements 211 Financial Statements