Pokarna decides not to pursue restructuring solution for apparel business

Pokarna has decided not to pursue restructuring solution for Apparel Business of the company as despite continuous efforts, no attractive restructuring solution could be identified. Accordingly, Apparel Business has been reclassified from discontinued operations to continuing operations. Consequently, in accordance with Ind AS 105 ‘Non-current Assets held for Sale and Discontinued Operations’, the assets and liabilities of Apparel Business have been restated in the financial statements as at March 31, 2019 and corresponding previous periods.

The Board of Directors of the company at their meeting held on May 27, 2019, decided the same.

Pokarna is engaged in the processing and export of granite in different colours.