Mar 31, 2015
1. SHARE CAPITAL
a) Terms attached to equity shares
The company has one class of equity shares having a par value of Rs.5/-
per share. Each shareholder is eligible for one vote per share held. In
the event of liquidation, the equity shareholders are eligible to
receive the remaining assets of the company after distribution of all
preferential amounts, in proportion to their shareholdings.
2. Contingent Liabilities not provided for:
Current Year Previous Year
Rs. Lakhs Rs. Lakhs
a. Bank Guarantees 212.21 346.10
b. Letter of Credit 421.44 718.27
c. Disputed Sales Tax Liability 19.06 19.06
3. There are no separate reportable segments (business and/or
geographical) in accordance with the requirements of Accounting
Standard 17 - 'Segment Reporting', specified under Section 133 of the
Act, read with Rule 7 of the Companies (Accounts ) Rules, 2014.
4. Transactions with the Related Parties pursuant to Accounting
Standard 18:
i. List of Related Parties
Subsidiary Company : Bhashwanth Power Projects Pvt. Ltd.,
Associate Companies / Firms
(including Companies / firms
Controlled by key management
Personnel / relatives who are
sub- stantially interested) : Nil
Key Management Personnel : Mr. G. Rama Krishna Reddy,
Chairman
Mr. G. Rama Manohar Reddy,
Managing Director
Mrs. G. Amulya Reddy,
Whole Time Director
In compliance with the Accounting Standard "AS-22 Accounting for Taxes
on Income" issued by the Institute of Chartered Accountants of India,
the company has recognized Rs.1,09,652/-towards deferred tax asset in
the year 2014-15. The major components of deferred tax assets and
liabilities are arising on account of timing differences in
depreciation and carried forward of losses.
5. Depreciation as per Companies Act, 2013
Useful life of various assets was revised in accordance with schedule
II of the companies Act 2013. The Change in useful life resulted in
the completion of useful life of certain fixed assets before
31.03.2014. The carrying amount of the assets after retaining the
salvage value was transferred to the retained earnings in the current
year. The amount of which is Rs.6,73,708/-
6. Cash Flow statement has been prepared under indirect method as per
Accounting Standard - 3" Cash Flow Statements".
7. Sundry Debtors, Sundry Creditors, Advance for Supplies and Deposits
subject to confirmation with the respective parties / authorities.
8. Foreign Exchange Earnings & Out Go:
- Foreign Exchange Earnings - Rs. 87.40 Lakhs (Previous year Rs.72.38
Lakhs)
- Foreign Exchange Outgo - Rs.4802.69 lakhs (Previous year - Rs.671.88
lakhs)
9. Paise have been rounded off the nearest rupee. Previous year figures
have been regrouped wherever if thought necessary in conformity with
the Current year groupings.
Notes to the financial statements and statement on accounting policies
form an integral part of the Balance Sheet, Statement of profit and
Loss and Cash Flow Statement.
Mar 31, 2014
Contingent Liabilities not provided for:
Current Year Previous Year
Rs. Lakhs Rs. Lakhs
a. Bank Guarantees 346.10 211.79
b. Letter of Credit 718.27 192.68
c. Disputed Sales Tax Liability 19.06 19.06
NOTE NO. 1
Particulars of employees required under section 217(2A) of the
companies Act, 1956 and the rules framed there under is not applicable
as none of the employees are in receipt of gross remuneration as per
the details prescribed in these rules.
NOTE NO. 2
Paise have been rounded off to the nearest rupee. Previous year figures
have been regrouped wherever if thought necessary in conformity with
the Current year groupings.
There are no separate reportable segments (business and/or
geographical) in accordance with the requirements of Accounting
Standard 17 - ''Segment Reporting'', notified in the companies
(Accounting Standards) Rules 2006.
NOTE NO. 3
Transactions with the Related Parties pursuant to Accounting Standard
18:
i. List of Related Parties
Subsidiary Company : Bhashwanth Power Projects Pvt. Ltd.,
Associate Companies / Firms (including Companies / firms Controlled by
key management Personnel / relatives who are sub- stantially
interested) : Nil
Key Management Personnel : Mr. G. Rama Krishna Reddy, Chairman
Mr. G. Rama Manohar Reddy, Managing Director
Mrs. G. Amulya Reddy, Whole Time Director
ii. Transactions with Related Parties
a) Remuneration to Directors : Rs.51,00,000/-
b) Loan taken from Directors : Rs.93,08,263/-
NOTE NO. 4
Outstanding dues to Micro small and medium enterprises under the MSME
development act, 2006 have been determined based on the information
available with the company and the required disclosures are given
below.
NOTE NO. 5
In compliance with the Accounting Standard "AS-22 Accounting for Taxes
on Income" issued by the Institute of Chartered Accountants of India,
the company has additionally provided Rs.53,44,802/-towards deferred
tax liability in the year 2013-14. The major components of deferred tax
assets and liabilities are arising on account of timing differences in
depreciation and carried forward of losses.
NOTE NO. 6
Cash Flow statement has been prepared under indirect method as per the
Accounting Standard - 3" Cash Flow Statements".
NOTE NO. 7
Sundry Debtors, Sundry Creditors, Advance for Supplies and Deposits are
subject to confirmation with the respective parties / authorities.
NOTE NO. 8
Foreign Exchange Earnings & Out Go:
- Foreign Exchange Earnings - Rs. 72.38 Lakhs/- (Previous year Rs.NIL)
- Foreign Exchange Outgo - Rs.671.88 lakhs (Previous year - Rs.1560.88
lakhs)
Notes to the financial statements and statement on accounting policies
form an integral part of the Balance Sheet, Statement of profit and
Loss and Cash Flow Statement.
Mar 31, 2013
NOTE NO. 1
Contingent Liabilities not provided for:
Current Year Previous Year
Rs. Lakhs Rs. Lakhs
a. Bank Guarantees 211.79 518.65
b. LetterofCredit 192.68 777.13
c. Disputed Sales Tax Liability 19.06 19.06
NOTE NO. 2
Particulars of employees required under section 217(2A) of the
companies Act, 1956 and the rules framed there under is not applicable
as none of the employees are in receipt of gross remuneration as per
the details prescribed in these rules.
NOTE NO. 3
Paise have been rounded off to the nearest rupee. Previous year figures
have been regrouped wherever if thought necessary in conformity with
the Current year groupings.
NOTE NO. 4
There are no separate reportable segments (business and/or
geographical) in accordance with the requirements of Accounting
Standard 17 Â ÂSegment Reporting'', notified in the companies
(Accounting Standards) Rules 2006.
NOTE NO. 5
In compliance with the Accounting Standard "AS-22 Accounting for Taxes
on Income" issued by the Institute of Chartered Accountants of India,
the company has recognized Rs.1,14,74,733/- towards deferred tax asset
in the year 2012-13. The major components of deferred tax assets and
liabilities are arising on account of timing differences in
depreciation and carried forward of losses.
NOTE NO. 6
Cash Flow statement has been prepared under indirect method as per the
Accounting Standard  3" Cash Flow Statements".
NOTE NO. 7
Sundry Debtors, Sundry Creditors, Advance for Supplies and Deposits are
subject to confirmation with the respective parties / authorities.
NOTE NO. 8
Foreign Exchange Earnings & Out Go:
- Foreign Exchange Earnings  Rs. NIL (Previous year Rs.NIL)
- Foreign Exchange Outgo  Rs.1560.88 lakhs (Previous year  Rs.
1198.53 lakhs)
Notes to the financial statements and statement on accounting policies
form an integral part of the balance sheet, profit and Loss Statement
and cash flow statement.
Mar 31, 2012
NOTE NO. 1
Particulars of employees required under section 217(2A) of the
companies Act, 1956 and the rules framed there under is not applicable
as none of the employees are in receipt of gross remuneration as per
the details prescribed in these rules.
NOTE NO. 2
Paise have been rounded off to the nearest rupee. Previous year figures
have been regrouped wherever if thought necessary in conformity with
the Current year groupings.
NOTE NO. 3
There are no separate reportable segments (business and/or
geographical) in accordance with the requirements of Accounting
Standard 17 " Segment Reporting , notified in the companies
(Accounting Standards) Rules 2006.
NOTE NO. 4
In compliance with the Accounting Standard AS-22 Accounting for Taxes
on Income Issued by the Institute of Chartered Accountants of India,
the company has recognized Rs.17,81,484/- towards deferred tax asset in
the year 2011-12. The major components of deferred tax assets and
liabilities are arising on account of timing differences in
depreciation.
NOTE NO. 5
Cash Flow statement has been prepared under indirect method as per the
Accounting Standard "3" Cash Flow Statements
NOTE NO. 6
Sundry Debtors, Sundry Creditors, Advance for Supplies and Deposits are
subject to confirmation with the respective parties / authorities.
NOTE NO. 7
Foreign Exchange Earnings & Out Go:
- Foreign Exchange Earnings - Rs. NIL
(Previous year Rs.NIL)
- Foreign Exchange Outgo - Rs.1198.53 lakhs
(Previous year" Rs. 699.73 lakhs)
Mar 31, 2011
1. Contingent Liabilities not provided for:
Current Year Previous Year
Rs. Lakhs Rs. Lakhs
a. Bank Guarantees 385.00 386.00
b. Letter of Credit 556.58 378.93
c. Disputed Income Tax Liability 178.15 -
d. Disputed Sales Tax Liability 19.06 19.06
2. The company has set up an industrial undertaking at Yanam, State of
Pondicherry under Section 80IB and Dehradun State of Uttarakhand under
Section 80IC under backward states. The company has also registered
with Director of Industries and Commerce. As per provisions of Section
80 IB, the company is eligible for deduction at 100% profit earned for
the unit for a period of 5 years and 30% of profits for the next 5
years for both the units. Therefore, the provision for tax has been
made after claiming the deduction under section 80IB & IC.
3. Cash Credit from State Bank of Hyderabad is secured by
Hypothecation of raw materials, semi-finished, finished goods and
sundry debtors of the company and guaranteed by directors of the
company in their personal capacities.
4. Short Term Working Capital Loans from Banks and Financial
Institutions mentioned under Schedule - D are not charged with any
assets of the company but these loans are secured by the personal
guarantees of directors.
5. Particulars of employees required under section 217(2A) of the
companies Act, 1956 and the rules framed there under is not applicable
as none of the employees are in receipt of gross remuneration as per
the details prescribed in these rules.
6. Paise have been rounded off to the nearest rupee. Previous year
figures have been regrouped wherever if thought necessary in conformity
with the Current year groupings.
7. There are no separate reportable segments (business and/or
geographical) in accordance with the requirements of Accounting
Standard 17 - 'Segment Reporting', notified in the companies
(Accounting Standards) Rules 2006.
8. Transactions with the Related Parties pursuant to Accounting
Standard 18 :
i. List of Related Parties
Subsidiary Company : Bhashwanth Power Projects
Associate Companies/Firms Pvt. Ltd.,
(including Companies/firms
Controlled by key management
Personnel/relatives who are
sub- stantially interested)
Key Management Personnel : Mr. G. Rama Krishna Reddy,
Chairman
Mr. G. Rama Manohar Reddy,
Managing Director
Mrs. G. Amulya Reddy,
Whole Time Director
ii. Transactions with Related
Parties
Remuneration to Directors Rs. 37,00,000/-
9. In compliance with the Accounting Standard " AS-22 Accounting for
Taxes on Income" issued by the Institute of Chartered Accountants of
India, the company has recognized Rs.24,42,903/- towards deferred tax
asset in the year 2010-11. The major components of deferred tax assets
and liabilities arising on account of timing differences in
depreciation.
10. Cash Flow statement has been prepared under indirect method as per
the Accounting Standard - 3" Cash Flow Statements".
11. Sundry Debtors, Sundry Creditors, Advance for Supplies and
Deposits are subject to confirmation with the respective parties /
authorities.
12. Foreign Exchange Earnings & Outgo:
- Foreign Exchange Earnings - Rs. NIL
(Previous year Rs.47.57 lakhs)
- Foreign Exchange Outgo - Rs.699.73 lakhs
(Previous year - Rs. 2225.50 lakhs)
Mar 31, 2010
1. Contingent Liabilities not provided for:
Current Year Previous Year
Rs. Lakhs Rs. Lakhs
a. Bank Guarantees 386.00 515.00
b. Letter of Credit 378.93 975.37
c. Disputed Income Tax Liability - 4.02
d. Disputed Sale Ta x Liability 19.06 59.73
2. The company has set up an industrial undertaking at Yanam, State of
Pondicherry and Dehradun, State of Uttarakhand under Backward states.
The company has also registered with Director of Industries and
Commerce. As per provisions of Section 80 IB, the company is eligible
for deduction at 100% profit earned for the unit for a period of 5
years and 30% of profits for the next 5 years for both the units.
Therefore, the provision for tax has been made after claiming the
deduction under section 80 IB.
3. Cash Credit from State Bank of Hyderabad is secured by
Hypothecation of raw materials, semi-finished, finished goods and
sundry debtors of the company and guaranteed by directors of the
company in their personal capacities.
4. Short Term Working Capital Loans from Banks and Financial
Institutions mentioned under Schedule - D are not charged with any
assets of the company but these loans are secured by the personal
guarantees of directors.
5. Particulars of employees required under section 217(2A) of the
companies Act, 1956 and the rules framed there under is not applicable
as none of the employees are in receipt of gross remuneration as per
the details prescribed in these rules.
6. Paise have been rounded off to the nearest rupee. Previous year
figures have been regrouped wherever if thought necessary in conformity
with the Current year groupings.
7. Pursuant to the approval of the shareholders of the company in an
EGM held on 29th January 2010 the shareholders authorized the Board of
Directors Sub Division of Authorised Share Capital of the Company
comprising of 1,20,00,000 (One Crore Twenty Lakhs Only) Equity Shares
of Rs.10/- each into 2,40,00,000 (Two Crores Forty Lakhs Only) Equity
Shares of Rs.5/- each. Accordingly the Company has sub divided the
Authorized share Capital of Rs.12,00,00,000/- (Rupees Twelve Crores
Only) into 2,40,00,000 Equity Shares of Face value of Rs.5/- each under
Clause V as per Board Resolution passed by the Board of Directors on
30th January 2010.
8. Share issue expenses/receipts amounting to Rs.70,000/- adjusted/
credited against the Securities Premium Account.
9. There are no separate reportable segments (business and/or
geographical) in accordance with the requirements of Accounting
Standard 17 Ã Segment Reporting, notified in the companies
(Accounting Standards) Rules 2006.
10. Transactions with the Related Parties pursuant to Accounting
Standard 18:
i. List of Related Parties Subsidiary Company
Associate Companies / Firms : Bhashwanth Power Projects Pvt. Ltd.,
(including Companies / firms Mr. G. Rama Krishna Reddy
Controlled by key management Director
Personnel / relatives
who are sub- Mr. G. Rama Manohar Reddy
stantially interested) : Director
Key Management Personnel : Mr. G. Rama Krishna Reddy,
Chairman
Mr. G. Rama Manohar Reddy,
Managing Director
Mrs. G. Amulya Reddy,
Whole Time Director
ii. Transactions with
Related Parties
Remuneration to Directors Rs. 30,00,000/-
Rent Paid Rs. 45,000/-
Purchase of Office Building Rs.3,48,25,200/-
11. In compliance with the Accounting Standard AS-22 Accounting
forTaxes on rncome" issued by Une Institute of Chartered Accountants of
India, tie company has recognised fts.45.02.257/- towards deterred tax
asset in the year 2QQ9-1D. The major components of deferred tax assets
and liabilities arising on account oi timing differences m depredation,
12. Casft Flow siaie-ment has been prepared under indirect method as
per Ihe Accounting Slandard - y Cash Flow Statements"
13. Sundry Debtors. Sundry Creditors and Deposits are subject to
eorrfvmalion With (he respective parties / authorities.
14 Foreign Exchange Earnings & Out Go:
- Foreign Exchange Earnings - Rs 47.57 Ifiv"s (Previous year Rj.98.87
lakhs)
- Foreign Exchange CXito - Rs.2225 50 lakhs (Previous year - Rs.
2395.61 lakhs}
Mar 31, 2003
1. Particulars of employees required under section 217 (2A) of the
companies Act 1956 and the rules framed there under is not applicable
as none of the employees are in receipt of gross remuneration as per
the details prescribed in these rules.
2. Paise have been rounded off to the nearest rupee. Previous year
figures have been regrouped wherever if thought necessary in conformity
with the Current year groupings.
3. Segment Reporting as per AS-17 is not applicable to this company.
4. Earning per Share
The numerators and denominators used for calculation of EPS-
5. In compliance with the Accounting Standard - AS-22 relating to
"Accounting for taxes on Income" issued by the Institute of Chartered
Accountants of India, the company has adjusted the deferred tax
liability (net) arising out of timing differences for the period upto
31-03-2002 of Rs. 2,43,071 adjusted in the Profit & Loss Appropriation
account and deferred tax liability accrued during the year aggregating
to Rs. 2,89,703 has been recognized in the Profit & Loss Account. The
major components of deferred tax assets and liabilities arising on
account of timing differences In depreciation.
6. Other advances. Sundry Debtors, Sundry Creditors and advance from
customers are subject to confirmation with the respective parties.
Notes : Schedules and statement on accounting policies form an integral
part of the balance sheet and profit and loss account.
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