Clarification Issued: Ducol Organics Addresses Reporting Discrepancies in Financial Results Filing
Ducol Organics And Colours Limited has issued a clarification regarding certain deficiencies observed in its XBRL filing of financial results, confirming that the underlying audited financials remain unaffected by reporting unit errors. The clarifications address issues related to Paid-up Equity Share Capital and segment details.The company acknowledged that in both the Standalone and Consolidated XBRL filings, the Paid-up Equity Share Capital was inadvertently reported using absolute figures rather than lakhs. This discrepancy arose from a data mapping or unit selection error during the process of preparing the XBRL submission. Ducol Organics stated that this error is limited solely to the XBRL submission and has no impact on the audited financial results approved by the Board of Directors, confirming that necessary corrections are being taken to ensure figures are appropriately reported in lakhs.
Regarding business segmentation, Ducol Organics clarified that it operates within a single primary reportable segment: Manufacture of Other Chemical Products. This segment accounts for revenue generated both within India and outside of India. The company noted that the segment details provided in the filing are consistent with the financial statements approved by the Board of Directors, as they do not represent separate reportable segments.
The company affirmed that these discrepancies were inadvertent and carry no impact on the financial performance or financial position detailed in the results approved by the Board of Directors. The necessary corrections pertaining to the reporting units are currently being implemented.
DUCOL Stock Price Movement
Today, shares of Ducol Organics And Colours Limited edged higher to settle at ₹112, gaining 0.58% in the closed market. The stock saw a traded volume of 3,200 shares throughout the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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