Home  »  Company  »  Alkem Laboratories  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Alkem Laboratories Ltd.

Mar 31, 2015

1) Investments in 8% Indian Railway Finance Corporation Limited, 10.17% HDB Financial Services Limited, 8.63% NHB Limited, 9.01% NHB Limited,11% Bank of India, 9.55% kotak Mahindra Prime Aggregating to Rs.1,387.5 Millions (Previous Year Nil) are in the process of pledge against issuance of Stand by letter of credit required for Term Loan of US$ 29.80 Million advanced by Citi Bank USA to The Pharma Network LLC (USA), a 100% step down Subsidiary of the company.

2) a) During the year the company has acquired 51% equity stake in following companies in India:

i) Indchemie Health Specialties Pvt. Ltd ("IHSPL") at a total cost of Rs.1,640.7 Millions

ii) Cachet Pharmaceuticals Pvt. Ltd ("CPPL") at a total cost of Rs.638.9 Millions pursuant to the acquisition IHSPL & CCPL have become subsidiaries of the Company.

b) During the year the Company purchased additional 20% equity stake in its subsidiary M/s. Enzene Biosciences Limited ("EBL") at a total cost of Rs. 35.0 Millions. Pursuant to these acquisition EBL has become a wholly owned subsidiary of the company.

c) During the year Company has set up a wholly owned subsidiary in United Kingdom via, "Ascend Laboratories (UK) Limited" by way of a capital contribution of Rs.4.9 Millions.

d) During the year the Company has acquired 51% equity stake in M/s. S&B Pharma Inc. from its wholly owned subsidiary via M/s. S&B Holdings B.V. Netherlands. Pursuant to the acquisition M/s.S&B Pharma Inc. has now become a direct wholly owned subsidiary of the Company.

e) During the year the Company has contributed Rs.0.1 Million in Alkem Real Estate LLP as capital contribution and the same has been withdrawn pursuant to the process of winding up of the Alkem Real Estate LLP.

Management considers the service tax, excise duty, custom duty, sales tax and income tax demands received from the authorities are not tenable against the Company, and therefore no provision for these tax contingencies has been made.

* Claim from vendor in relation to compliance with contractual purchase commitment and alleged infringement of intellectual property

** Claim from customer in relation to product quality issues and packing norms in recipient country.

In view of the company no provision for these claims are required

3. Due to Micro, Small enterprises

Under the Micro, Small and Medium Enterprises Development Act, 2006, (MSMED) which came into force from 2 October 2006, certain disclosures are required to be made relating to Micro, Small and Medium enterprises. On the basis of the information and records available with the Management, the outstanding dues to the Micro & Small enterprises as defined in the Micro, Small and Medium Enterprises Development Act, 2006 as set out in following disclosure. This has been relied upon by the auditors.

4. Disclosure of Employee Benefits as per Accounting Standard 15 is as under: i) Defined contribution plans: The Company makes contributions towards provident fund and superannuation fund to a defined contribution retirement benefit plan for qualifying employees. Under the plan, the Company is required to contribute a specified percentage of payroll cost to the retirement benefit plan to fund the benefits. The provident fund plan is operated by the Government administrated employment provident fund. Eligible employees receive the benefits from the said Provident Fund. Both the employees and the Company make monthly contribution to the Provident Fund plan equal to a specific percentage of the covered employee's salary. The minimum interest rate payable to the beneficiaries every year is being notified by the Government.

The Superannuation fund is administered by the Life Insurance Corporation of India (LIC). Under the plan, the Company is required to contribute pre-determined percentage of payroll cost of the eligible employee to the superannuation plan to fund the benefit. The Company has recognised the following amounts in the Statement of Profit and Loss

ii) Defined benefit plan:

The Company earmarks liability towards unfunded Group Gratuity and Compensated absences and provides for payment to vested employees as under:

a) On Normal retirement/ early retirement/ withdrawal/resignation:

As per the provisions of Payment of Gratuity Act, 1972 with vesting period of 5 years of service.

b) On death in service:

As per the provisions of Payment of Gratuity Act, 1972 without any vesting period.

The most recent actuarial valuation of plan assets and the present value of the defined benefit obligation for gratuity were carried out as at March 31, 2015 by an independent actuary. The present value of the defined benefit obligations and the related current service cost and past service cost, were measured using the Projected Unit Credit Method.

5. Segmental Reporting as required by Accounting Standard – 17 (AS-17) The Company has presented data relating to its segments based on its consolidated financial statements, which are presented in the same Annual Report. Accordingly, in terms of paragraph 4 of the Accounting Standard 17 (AS-17) "Segment Reporting", no disclosures related to segments are presented in this standalone financial statement.

6. The aggregate amount of revenue expenditure incurred during the year on Research and Development and shown in the respective heads of account is Rs.1,513.1 Millions (Previous Year Rs. 1,529.1 Millions).

Until 31 March 2014,the company accounted for sales returns on actual returns. During the year ended 31 March 2015, in line with an opinion of Expert Advisory Committee of the Institute of Chartered Accountants of India on accounting for sales returns, the company has revised its approach by accounting for anticipated sales returns and has recorded a cumulative provision for anticipated sales returns as at 31 March 2015 by charging it to Statement of Profit and Loss.

As required by Accounting Standard–18, the Related Parties' disclosures are as follows: 2.36 Names of related parties and description of relationship:

A. List of related parties and their relationship A Subsidiaries and Step down Subsidiaries

Alkem Laboratories (NIG) Limited Nigeria

Alkem Laboratories (PTY) Limited South Africa

Alkem Pharma GmbH Germany

Alkem Laboratories Corporation Philippines

S & B Holdings B.V. Netherlands

Pharmacor Pty Limited Australia

ThePharmanetwork, LLC ( Wholly owned

United States of America Subsidiary of S&B Holdings B.V)

Ascend Laboratories SDN BHD. Malaysia

Ascend Laboratories SpA Chile

Enzene Biosciences Ltd. India

Alkem Laboratories Korea Inc Korea

Pharmacor Ltd. Kenya

S & B Pharma Inc. United States of America

The PharmaNetwork, LLP Kazakhstan

Ascend Laboatories, LLC ( Wholly owned

United States of America by The Phrmanetwork LLC)

Alkem Real Estate LLP India

Ascend Laboratories (UK) Ltd. (w.e.f 6

United Kingdom

August, 2014)

Cachet Pharmaceuticals Pvt. Ltd (w.e.f 27

India

March, 2015 )

Indchemie Health Specialties Pvt.

India Ltd.(w.e.f 30 March, 2015 )

B Key Managerial Personnel C. Relatives of Key Management Personnel

Mr. Samprada Singh Chairman Emeritus Mr. Satish Kumar Singh Son of Samprada Singh

Mr. Basudeo Narain Singh Executive Chairman Mrs. Jayanti Sinha Sister of Samprada Singh

Mr. Prabhat Narain Singh (up to 20 Feb,

Director Mrs. Archana Singh Daughter of Basudev Narain Singh

2015)

Mr. Nawal Kishore Singh (up to 2 Jan,

Director Mr. Sarandhar Singh Son of Balmiki Prasad Singh

2015)

Mr. Balmiki Prasad Singh Director Mr. Srinivas Singh Son of Balmiki Prasad Singh

Mr. Dhananjay Kumar Singh Joint Managing Director Mr. Sarvesh Singh Brother of Sandeep Singh

Mr. Mrityunjay Kumar Singh (up to 31

Director Mrs. Manju Singh Wife of Balmiki Prasad Singh

July, 2014)

Mr. Sandeep Singh Joint Managing Director Mrs. Premlata Singh, Mother of Sandeep Singh

Mr. Prabhat Agrawal (w.e.f 21st Oct,

Chief Executive Officer Mrs. Madhurima Singh Wife of Dhananjay Kumar Singh 2014)

Mrs. Seema Singh Wife of Mritunjay Kumar Singh

Ms. Divya Singh Doughter of Dhananjay kumar Singh

Mst. Aniruddha Singh Son of Dhananjay Kumar Singh

Ms. Meghna Singh Doughter of Mritunjay Kumar Singh

Shrey Shree Anant Singh Son of Mritunjay Kumar Singh

Ms.Inderjit Arora Wife of Sandeep singh

Rekha Singh Wife of Basudev Narain Singh

Shalini Singh Daughter of Naval Kishore Singh

Neha Singh Daughter of Naval Kishore Singh

Khushboo Singh Daughter of Naval Kishore Singh

Anju Singh Wife of Naval Kishore Singh

Mr. Nawal Kishore Singh (w.e.f 3

Son of Samprada Singh Jan, 2015)

Mr.Mrityunjay Kumar Singh (w.e.f

Son of Basudev Narain Singh 1 August, 2014)

D Entities in which Key Management Personnel's have contractual and significant influence:

M/s Galpha Laboratories Ltd., Travelon Services Pvt. Ltd.M/s. Cachet Pharmaceuticals Pvt. Ltd (up to 26 March, 2015) ,Indchemie Health Specialties Pvt. Ltd (up to 29 March, 2015)


Mar 31, 2014

(a) Rights attached to Equity Shares:

The Company has only one class of equity shares with voting rights having a par value of Rs. 10/- per share. The Company declares and pays dividends in Indian Rupees.

During the year ended 31 March, 2014, the amount of per share dividend paid as distributions to equity shareholders is Rs. 20/- (31st March, 2013 dividend recognized as distribution to equity shareholders Rs. 20/-).

In the event of liquidation of the Company, the shareholders of equity shares will be entitled to receive remaining assets of the Company after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

1. Sundry Creditors – Outstanding dues of Micro and Small Enterprises:

a. Principal amount outstanding to Micro and Small enterprises as at the year ended 31st March, 2014 is Rs. 4,687.88 Lakhs (Rs. 2,864.84 Lakhs)

b. No interest is paid in terms of section 16 of the Micro, Small and Medium Enterprise Development Act, 2006 and there is no delay in payment to these suppliers beyond the appointed day.

c. No amount of interest is due or payable for any delay in payment as specified under the Micro, Small and Medium Enterprise Development Act, 2006.

d. No amount of interest has accrued and remained unpaid at the end of the accounting year.

e. The above disclosure is made based on the information available with the Company and has been relied upon by the Auditors.

2. Disclosure of Employee Benefits as per Accounting Standard 15 is as under:

(i) Defined contribution plans:

The Company makes contributions towards provident fund and superannuation fund to a defined contribution retirement benefit plan for qualifying employees. Under the plan, the Company is required to contribute a specified percentage of payroll cost to the retirement benefit plan to fund the benefits. The provident fund plan is operated by the Government administrated employment provident fund. Eligible employees receive the benefits from the said Provident Fund. Both the employees and the Company make monthly contribution to the Provident Fund plan equal to a specific percentage of the covered employee's salary. The minimum interest rate payable to the beneficiaries every year is being notified by the Government. During the year the Company recognized Rs.1,106.30 Lakhs (P.Y. Rs. 934.77 Lakhs) for provident fund contributions.

The Superannuation fund is administered by the Life Insurance Corporation of India (LIC). Under the plan, The Company is required to contribute pre determined percentage of payoff cost of the eligible employee to the superannuation plan to fund the benefit. During the year Company recognized Rs.26.52 Lakhs (P.Y. Rs.24.40 Lakhs) for superannuation contribution.

(ii) Defined benefit plan:

The Company earmarks liability towards unfunded Group Gratuity and Compensated absences and provides for payment to vested employees as under:

a) On Normal retirement/ early retirement/ withdrawal/resignation: As per the provisions of Payment of Gratuity Act, 1972 with vesting period of 5 years of service.

b) On death in service: As per the provisions of Payment of Gratuity Act, 1972 without any vesting period. The most recent actuarial valuation of plan assets and the present value of the defined benefit obligation for gratuity were carried out as at March 31, 2014 by the Actuary. The present value of the defined benefit obligations and the related current service cost and past service cost, were measured using the Projected Unit Credit Method.

The following table sets out the status of the gratuity plan and the amounts recognized in the Company's financial statements as at March 31, 2014

3. Details of un-hedged foreign currency exposure:

The year-end foreign currency exposures that have not been hedged by a derivative instrument or otherwise are as below:

4. The Company has taken certain assets on operating lease and has paid lease rentals amounting to Rs.1,498.70 Lakhs (P.Y. Rs. 1,175.01 Lakhs) which has been debited to the Profit and Loss Account. The future minimum lease payments are as under:

5. Segmental Reporting as required by Accounting Standard – 17 (AS-17):-

i) Primary Business Segment:

The Company is currently focusing on two business segments i.e., pharmaceutical and investing & real estate. The business of food division is insignificant and accordingly has not been considered as a separate business segment. The research & development activity of the Company is part of the pharmaceutical business. The disclosure required as per Accounting Standard -17 (AS-17) for the segment reporting is as under.

ii) Secondary Geographical Segment:-

The Segment Revenue in the geographical segments considered for disclosure are on the basis of customer location. In case of Segment asset and segment capital expenditure the amount attributable to geographical segment Outside India "is less than 10% of the respective Total Assets and Total Capital Expenditure of the reporting enterprise and hence not disclosed separately.

6. The aggregate amount of revenue expenditure incurred during the year on Research and Development and shown in the respective heads of account is 15,291.47 Lakhs (P.Y. Rs. 9,873.01 Lakhs).

7. As required by Accounting Standard–18, the Related Parties' disclosures are as follows: Names of related parties and description of relationship:

A. Subsidiaries, Fellow Subsidiaries & Others:

Alkem Laboratories (NIG) Limited Nigeria

Alkem Laboratories (PTY) Limited South Africa

Alkem Pharma GmbH Germany

Alkem Laboratories Corporation Philippines

S & B Holdings B.V. Netherlands

Pharmacor Pty Limited Australia

Angelic Holdings SA (Up to 26th February, 2014) Switzerland

ThePharmanetwork, LLC United States of America

Ascends Laboratories SDN BHD. Malaysia

Ascends Laboratories SpA Chile

Enzene Biosciences Ltd. India

Alkem Laboratories Korea Inc Korea

Pharmacor Ltd. Kenya

S & B Pharma Inc. United States of America

The PharmaNetwork, LLP Kazakhstan

Ascend Laboatories, LLC United States of America

TPN Italia, SRS (In the process of Closure) Italy

TPN China, Inc. (In the process of Closure) China

B. Key Management Personnel:

Mr. Samprada Singh Chairman

Mr. Basudeo Narain Singh Managing Director

Mr. Prabhat Narain Singh Director

Mr. Nawal Kishore Singh Director

Mr. Balmiki Prasad Singh Director

Mr. Dhananjay Kumar Singh Director

Mr. Mrityunjay Kumar Singh Director

Mr. Sandeep Singh Director

Mr. Ravindra.Y.Shenoy Chief Operating Officer

(Up to 31st July, 2013)

ALKEM LABORATORIES LIMITED

C: Relatives of Key Management Personnel and Entities in which Key Management Personnel's have contractual and significant influence:

Late Mrs. Nanhamati Singh, Mr. Satish Kumar Singh, Mrs. Jayanti Sinha, Mrs. Rekha Singh, Mrs. Archana Singh, Mrs. Krishna Singh, Mr. Tushar Singh, Mrs. Anju Singh, Mrs. Rinu Sharma, Ms. Shalini Singh, Ms. Neha Singh, Ms. Khushboo Singh, Mr. Sarandhar Singh, Mr. Srinivas Singh, Mr. Sarvesh Singh, Mrs. Manju Singh, Mrs. Premlata Singh, Mrs. Madhurima Singh, Mrs. Seema Singh, Ms. Divya Singh, Mst. Aniruddha Singh, Ms. Meghna Singh, Shrey Shree Anant Singh, M/s Cachet Pharmaceuticals Pvt. Ltd., M/s Indchemie Health Specialities Pvt. Ltd., M/s Galpha Laboratories Ltd., Travelon Services Pvt. Ltd.

8. During the year, the Company has expensed out Rs.5,186.18 Lakhs towards expenses incurred on product filling fees, cost of exhibit batch and outsourced product development charges. The said amount includes Rs.2,407.00 Lakhs which was recognized as assets in the earlier year. Accordingly profit for the year is reduced by Rs.5,186.18 Lakhs.

9. Debtors include debts from company under the same management as per Section 370 (1B) of the Companies Act, 1956 of Rs. 6,503.24 Lakh (P.Y. Rs. 6,266.66 Lakhs).

10. Figures of the previous year have been regrouped, rearranged, recast and reclassified wherever considered necessary to make them comparable to that of the current year or for a better presentation of accounts.

11. Figures in brackets indicate corresponding figures of previous year.


Mar 31, 2013

1. Long Term Foreign Currency Term Loans from Banks consist of two loans of US $ 5 Million (Rs 2,714 25 Lakhs) and US $ 12 Million (Rs 6514 20 Lakhs) each One of the loans carries interest @ LIBOR plus 1.50% and is repayable in installment of US $ 5 Million (Rs 2,714.25 Lakhs) on16th September, 2014 Second loan bears interest @ LIBOR plus 1 40% and is repayable in installment of US$ 3 Million (Rs 1,628.55 Lakhs) and two installments of US$ 4.5 Million (Rs 2,442.82 Lakhs) each from the date of their origination on 28th October, 2014.

Both the Long Term Foreign Currency Term Loans from banks are secured against existing and future movable and immovable fixed assets of the Company ranking pari-passu There is no default, as at the balance sheet date, in repayment of any of the above loans.

Outstanding dues of Micro and Small Enterprise:

a. Principal amount outstanding to Micro and Small Enterprises Rs. 2,864 84 Lakhs (P.Y. Rs 2,914 16 Lakhs)

b. No interest is paid in terms of section 16 of the Micro, Small and Medium Enterprise Development Act, 2006, there is no delay in payment to these suppliers beyond the appointed day.

c. No amount of interest is due or payable for any delay in payment as specified under the Micro, Small and Medium Enterprise Development Act, 2006

d No amount of interest has accrued and remained unpaid as at the end of the financial year.

b. The above disclosure is made based on the information available with the Company and has been relied upon by the Auditors.

Notes:

1. Cash Credit from bank for Rs. Rs. 9435.66 Lakhs (PY Rs. 18.21 Lakhs) is secured against charges created on stock and debt,

2. Overdraft from Banks Rs.69,931.14 Lakhs (PY Rs.47,696.01) are secured against Fixed Deposits with the banks and pledge of securities.

3. Cash Credit and Overdraft Facilities carries a rate of Interest in the range of 9 00% lo11 00% PA

4. Working Capital Loan from banks comprises of Cash Credit in INR and Packing Credit in Foreign Currencies

5. Unsecured Working Capital Loan from banks include Foreign Currency Loan of Rs 24,183 97 Lakhs (P Y. Rs 15,008 13Lakhs).

6. Working Capital Loan from banks in Foreign Currency carries Interest rate in the range of 1 10% to 2 00% and those in Indian Rupees carries interest rate in the range of 9% to 12% P.A.

7. There is no default, as at the Balance Sheet date in repayment of any of the above loans.

Current Maturities of Long Term Borrowings in Foreign Currency from Banks consist of two loans of US $ 5 Million (Rs. 2,714.25 Lakhs) and US S 3 Million (Rs 1628.55 Lakhs) each. One of the loans carries interest @ LIBOR plus 1 50% and is repayable in installment of US $ 5 Million (Rs. 2,714.25 Lakhs) on16th September, 2013 Second loan bears interest @ LIBOR plus 1 40% and is repayable in installment of USS 3 Millions (Rs 1,628 55 Lakhs)on 28th October, 2013.

Both the Current Maturities of Long Term Borrowings in Foreign Currencies from banks are secured against existing and future movable and immovable fixed assets of the Company ranking pari-passu There is no default, as at the balance sheet date, in repayment of any of the above loans.

1. Sundry Creditors - Outstanding dues of Micro and small Enterprises

a. Principal amount outstanding to Micro and small enterprises as at the year and is Rs, 2,864.84 Lakhs (Rs, 2,914.16 Lakhs)

b. No interest is paid in terms of section 16 of the Micro small Medium Enterprise Development Act,2006 and there is no delay in payment to these suppliers beyond the appointed day.

c. No. amount of interest is due or payable for any delay in payment as specified under the Micro small and medium Enterprise Development Act, 2006.

d. No. amount of interest has accrued and remained unpaid at the end of the accounting year.

e. The above disclosure is made based on the information available with the company and has been relied upon by the Auditors.

2. Disclosure of Employee Benefits as per Accounting Standard 15 is as under.

(i) Defined contribution place: The company makes contributions towards provident fund and superannuation fund to a defend contribution retirement benefit plan for qualifying employee under the plan the company is required to contribute a specified percentage of payroll cost to the retirement provident fund Eligible employees receive the benefits from the said provident fund. both the employees and the company make minimum interest rate payable to the benefits every year is being notified by the Government The company recognized Rs, 934.77 Lakhs (P.Y Rs,727.11 Lakhs) for provident fund contributions.

The Superannuation fund is administered by the life insurance of India (LIC) Under the plan the company is required to contribution pre determined percentage of pay off cost of the eligible employee to the superannuation plan to fund the benefit the company recognized Rs,24.40 Lakhs (PY Rs, 20.32 Lkhs) For superannuation contribution.

(ii) Defined benefit plan.

The company earmarks liability towards unfunded Group Gratuity and compensated absence and provides for payment to vested employees as under.

a) On Normal retirement/ early retirement/ withdrawal/resignation.

As par the provisions of payment of Gratuity Act, 1972 with vesting period of 5 years of service.

b. On death in service

As per the provisions of payment of Gratuity Act, 1972 without any vesting period.

The most recent actuarial valuation of plan assets and the present value of the defined benefit obligation for gratuity were carried out as at March 31,2013 by the Actuary The present value of the defined benefit obligations and the related current service cost and past service cost. were measured using the projected unit credit method.

The following table sets out the status of the gratuity plan and the amounts recognized in the company's financial statements as at March 31,2013

3. The aggregate amount of revenue expenditure incurred during the year on Research and Development and shown in the respective heads of account is Rs. 9,873.01 Lakhs (P.Y. Rs. 6,963.63 Lakhs).

4. Debtors include from company under the same management as per section 370 (1B) of the companies Act, 1956 of Rs, 6,266,66 Lkhs (P.Y Rs, 6,206,26 Lkhs)

5. Figures of the previous year have been regrouped rearranged recast and reclassified wherever considered necessary to make them comparable to that of the current year or for a better presentation of accounts.

6. Figures in brackets indicate corresponding figures of previous year.


Mar 31, 2012

1. Sundry Creditors - Outstanding dues of Micro and Small Enterprises:

a. Principal amount outstanding to Micro and Small enterprises as at the year end is Rs 2,914.16 Lakhs (Rs. 2,957.18 Lakhs)

b. No interest is paid in terms of section 16 of the Micro, Small and Medium Enterprise Development Act, 2006 and there is no delay in payment to these suppliers beyond the appointed day.

c. No amount of interest is due or payable for any delay in payment as specified under the Micro, Small and Medium Enterprise Development Act, 2006.

d. No amount of interest has accrued and remained unpaid at the end of the accounting year.

e. The above disclosure is made based on the information available with the Company and has been relied upon by the Auditors.

2. Disclosure of Employee Benefits as per Accounting Standard 15 is as under:

(i) Defined contribution plans:

The Company makes contributions towards provident fund and superannuation fund to 3 defined contribution retirement benefit plan for qualifying employees Under the plan, the Company is required to contribute a specified percentage of payroll cost to the retirement benefit plan to fund the benefits. The provident fund plan e operated by the Government administrated employment provident fund Eligible employees receive the benefits from the said Provident Fund Both The employees and the Company make monthly contribution to the Provident Fund plan equal to a specific percentage of the covered employees salary. The minimum (merest rate payable to the beneficiaries every year is being notified by the Government. The Company recognised Rs 727 11 Lakhs (P.Y. Rs. 626.97 Lakhs) for provident fund contributions.

The Superannuation fund is administered by the Life Insurance Corporation of India (LIC) Linder the plan, the company is required to contribute pre determined percentage of payoff cost of the eligible employee to the superannuation plan to fund the benefit. The Company recognised Rs. 20.32 Lakhs (P.Y. Rs. 25.16 Lakhs) for superannuation contribution.

(ii) Defined benefit plan:

The Company earmarks liability towards unfunded Group Gratuity and Compensated absences and provides for payment to vested employees as under:

a) On Normal retirement/ early retirement/ withdrawal/resignation:

As per the provisions of Payment of Gratuity Act, 1972 with vesting period of 5 years of service.

b) On death in service:

As per the previsions of Payment of Gratuity Act. 1972 without any vesting period.

The most recent actuarial valuation of fixed assets and the present value of the defined benefit obligation for gratuity were carried out as at March 31. 2012 by the Actuary The present value of the defined benefit obligations and the related current service cost and past service cost, were measured using the Projected Unit Credit Method.

The following table sets out the status of the gratuity plan and the amounts recognised in the Company's financial statements as at March 31, 2012.

3. Segmental Reporting as required by Accounting Standard - 17 (AS-17):

The Company is currently focusing on two business segments i.e . pharmaceutical and investing & real estate. The business of food division is insignificant and accordingly has not been considered as a separate business segment. The research & development activity of the Company is part of the pharmaceutical business The geographical segmentation is not relevant as exports are insignificant considering the total volume of business of the Company. The disclosure required as per Accounting Standard -17 (AS-17) for the segment reporting is as under, Rs in Lakhs.

C. Relatives of Key Management Personnel and Entities in which Key Management Personnel's have contractual and significant influence:

Mrs. Nanhamati Singh, Mr. Satish Kumar Singh. Mrs Jayanli Sinha. Mrs. Rekha Singh. Mrs. Archana Singh. Mrs. Krishna Singh. Mr. Tushar Singh. Mrs. Anju Singh. Mrs Rinu Sh'arma. Ms. Shaltni Singh. Ms. Neha Singh. Ms. Khushboo Singh. Mr. Sarandhar Singh. Mr Srinivas Singh. Mr Sandeep Singh. Mr. Sarvesh Singh. Mrs. Manju Singh, Mrs. Premtata Singh. Mrs. Madhurima Singh, Mrs. Seema Singh. Ms. Divya Singh. Msi Aniruddha Singh. Ms. Meghna Singh. Shrey Shree Anani Singh. M/s Cachet Pharmaceuticals Pvt. Ltd.. M/s Indchemie Health Specialities Pvt. Ltd . M/s Galpha Laboratories Ltd..M/ s. Trave Jon Services Pvt. Lid.

4. Debtors include debts from company under the same management as per Section 370 (1B) of the Companies Act. 1956 of Rs 7 351 56 Lakh (P.Y. Rs. 3,163.43 Lakhs).

5. Figures of the previous year have been regrouped, rearranged, recast and reclassified wherever considered necessary to make them comparable to that of the current year or for a better presentation of accounts.

6. Figures in brackets indicate corresponding figures of previous year.


Mar 31, 2011

Not available

 
Subscribe now to get personal finance updates in your inbox!