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Andhra Cements updates on financial year

Andhra Cements announced that the Board of Directors of the Company have decided to close the current financial year on 30 June 2015 (instead of 31 March 2015).

The Board has also decided to align its next financial year so as to close on 31 March 2016 within the permissible period of two years for such alignment as per the provisions of the Companies Act, 2013. The said decision will give the Company some more time to stabilise its commercial operations which commenced from 01 December 2014, reflecting the working of at least 7 months.

At the same time the Company will be able to align its financial year by 31 March 2016 as per the provisions of the Companies Act, 2013, Thus, the current financial year comprises of 15 months from 01 April 2014 to 30 June 2015 and the next financial year would comprise of 9 months from 01 July 2015 to 31 March 2016.

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