Policy for Determination of Materiality of Event / Information
In terms of Reg. 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the policy is framed for determination of materiality of event / information.
The Policy for determination of materiality of event / information of the Company is elaborated in the link below:
The term materiality of contract should be determined with reference to both qualitative and quantitative criteria as follows:
Quantitative criteria – where the value of contract / order exceeds
- 5% of the gross turnover; or
- 20% of the net worth.
The above threshold should be determined on the basis of audited consolidated financial statements of the previous financial year.
- The omission of such information is likely to:
- result in a discontinuity of information already available publicly; or
- result in significant market reaction if the said omission came to light at a later date;
- if in the opinion of the Board, the event / information is considered material.
- Further, in circumstances where ‘quantitative’ criteria may not be applicable, qualitative criteria may be applied to determine materiality
Following employees of the Company shall severally have the authority to determine Materiality of any event or information and ensure disclosures of the same are made to stock exchange(s), subject to the provisions of this Policy.