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NFRA finds errors in KIOCL's financial statements for 2019-20 period

28 Sep 2021 Evaluate

The National Financial Reporting Authority (NFRA) has found errors in the financial statements of KIOCL for the 2019-20 fiscal and has flagged that the company's accounting policy for foreign exchange forward contracts was ''erroneous''.

The findings are part of the watchdog's Financial Reporting Quality Review Report (FRQRR) of KIOCL for 2019-20, and is also the first FRQRR issued by it.

KIOCL is engaged in the business of manufacturing and exporting high quality Iron Oxide Pellets and supply of pig iron for domestic market..The company also in the business segment of Pellets, Pig Iron.

Peers
Company Name CMP
Coal India 399.00
NMDC 70.20
Ashapura Minechem 417.55
Sandur Manganese 177.90
GMDC 465.65
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