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Notes to Accounts of AMD Industries Ltd.

Mar 31, 2015

Note 1 Corporate information

The Company is engaged in the Manufacturing of Pet Preform,Crown Caps and CSD Closures. The company is also engaged in job work operation of preforms. The company is continuously catering to the packaging needs of Beverages and Beer Industry of the country and abroad. The company has also interest in the Real Estates.

Note 2 Disclosures under Accounting Standards

Employee benefit plans

Defined benefit plans

The Company offers the following employee benefit schemes to its employees:

i. Gratuity

ii. Other defined benefit plans (Leave Encashment)

Note 3 Disclosures under Accounting Standards

Particulars

Segment information

The Company has identified business segments as its primary segment and geographic segments as its secondary segment. Business segments are primarily Packaging and Real Estate. Revenues and expenses directly attributable to segments are reported under each reportable segment. Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. Fixed assets that are used interchangeably amongst segments are not allocated to primary and secondary segments. Geographical revenues are allocated based on the location of the customer. Geographic segments of the Company are India and Others.

Note 4 Related Party disclosure

As required by Accounting Standard - 18, "Related Party Disclosures" issued by the Institute of Chartered Accountants of India, relevant information is provided here below:

4.1 Related parties with whom transactions have taken place during the year:

Name Relationship

Sh. H S Gupta Key Managerial Personnel

Sh. Ashok Gupta Key Managerial Personnel

Sh. Adit Gupta Key Managerial Personnel

Mrs. Chitra Gupta Key Managerial Personnel's relative

Ms. Vidhi Gupta Key Managerial Personnel's relative

Ms. Mamta Gupta Key Managerial Personnel's relative

Ashoka Productions and Company in which KMP / Relatives of KMP Communications Private can exercise significant influence Limited

Kadam Trees Properties Company in which KMP / Relatives of KMP Private Limited can exercise significant influence

AMD Estates & Developers Company in which KMP / Relatives of KMP Private Limited can exercise significant influence

Ashok Sons (HUF) Company in which KMP / Relatives of KMP can exercise significant influence

Particulars As at As at 31st March 31st March 2015 2014 Rs. Rs.

Note 5 Contingent liabilities and commitments (to the extent not provided for)

(i) Contingent liabilities

(a) Claims against the Company not Nil Nil acknowledged as debt

(b) Guarantees - Corporate Guarantee 230,000,000.00 230,000,000.00 for related Company i.e.

AMD Estates and Developers Private Limited

"(c) Other money for which the Company is contingently liable against"

pending legal cases"

- Sales Tax Matters 4,642,213.00 4,844,595.00

- Entry Tax Matters 3,284,673.00 3,284,673.00

- Excise Matters 2,897,299.00 3,828,659.00

- Labour Dispute 200,000.00 200,000.00

11,024,185.00 12,157,927.00

5.1 The Company has not received any Memorandum, (as required to be filed by the supplier which are registered with the Notified Authority under the provisions of the Micro, Small & Medium Enterprises Development Act, 2006) claiming their status as on 31st March 2015 as Micro, Small and Medium Enterprise. Consequently, interest paid/payable to these parties during the year is NIL.

5.2 Details on derivatives instruments and unhedged foreign currency exposures

I. The following derivative positions are open as at 31 March, 2015. These transactions have been undertaken to act as economic hedges for the Company's exposures to various risks in foreign exchange markets and may / may not qualify or be designated as hedging instruments. (a) Forward exchange contracts and options [being derivative instruments], which are not intended for trading or speculative purposes but for hedge purposes to establish the amount of reporting currency required or available at the settlement date of certain payables and receivables

5.3 Dividend

Board of Directors have proposed Dividend of Rs. 0.90 Per share on Paid up Share capital of 19166749 equity shares. The distribution of the Dividend is subject to approval by the shareholders.

Note 6 Information of subsidiaries as required uder section 129 of the Companies Act, 2013 :

The company had sold off all its investments in equity shares of AMD Estates & Developers Private Limited during the Financial Year 2014-15, therefore information required to be given under section 129 of the Companies Act,2013 is not applicable.

Note 7 Previous year's figures

Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure


Mar 31, 2014

1 Corporate information

The Compnay is engaged in the Manufacturing of Pet Preform,Crown Caps and CSD Closures. The company is also engaged in jobwork operation of preforms. The company is continuously catering to the packaging needs of Beverages and Beer Industry of the country and abroad.The company has also interest in the Real Estates.

2 Disclosures under Accounting Standards Employee benefit plans

Defined benefit plans

The Company offers the following employee benefit schemes to its employees:

i. Gratuity

ii. Other defined benefit plans (Leave Encashment)

3 Disclosures under Accounting Standards

Segment information

The Company has identified business segments as its primary segment and geographic segments as its secondary segment. Business segments are primarily Packaging,Textile and Real Estate. Revenues and expenses directly attributable to segments are reported under each reportable segment. Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. Fixed assets that are used interchangeably amongst segments are not allocated to primary and secondary segments. Geographical revenues are allocated based on the location of the customer. Geographic segments of the Company are India and Others.

4 Additional information to the financial statements

Note Particulars As at 31st March, As at 31st March, 2014 Rs 2013 Rs

5 Contingent liabilities Nil Nil and commitments (to the extent not provided for)

(i) Contingent liabilities

(a) Claims against the Company not acknowledged as debt

(b) Guarantees - Corporate Guarantee for Subsidiary Company i.e. 230,000,000.00 230,000,000.00 AMD Estates and Developers (P) Limited

(c) Other money for which the Company is contingently liableagainst pending legal cases * Sales Tax Matters 4,844,595.00 19,510,149.00

* Entry Tax Matters 3,284,673.00 2,285,409.00

* Excise Matters 3,828,659.00 10,425,252.00

* Labour Dispute 200,000.00 522,000.00

12,157,927.00 32,742,810.00

6. The Company has not received any Memorandum, (as required to be filed by the supplier which are registered with the Notified Authority under the provisions of the Micro, Small & Medium Enterprises Development Act, 2006) claiming their status as on 31st March 2014 as Micro, Small and Medium Enterprise. Consequently, interest paid/payable to these parties during the year is NIL.

7. Disclosure as per Clause 32 of the Listing Agreements with the Stock Exchanges

Loans and advances in the nature of loans given to subsidiaries without any specific repayment schedule:

8. Details on derivatives instruments and unhedged foreign currency exposures

I. The following derivative positions are open as at 31 March, 2014. These transactions have been undertaken to act as economic hedges for the Company's exposures to various risks in foreign exchange markets and may / may not qualify or be designated as hedging instruments.

(a) Forward exchange contracts and options [being derivative instruments], which are not intended for trading or speculative purposes but for hedge purposes to establish the amount of reporting currency required or available at the settlement date of certain payables and receivables.

9. Dividend

Borad of Directors have proposed Dividend of Rs. 0.90 Per share on Paid up Share capital of 19166749 equity shares. The distribution of the Dividend is subject to approval by the shareholders.

10. Previous year's figures

Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.


Mar 31, 2013

1 Corporate information

The Compnay is engaged in the Manufacturing of Pet Preform.Crown Caps and CSD Closures. The company is also engaged in jobwork operation of preforms. The company is continuously catering to the packaging needs of Beverages and Beer Industry of the country and abroad.The company has also interest in the Real Estates.

Note 2 Disclosures under Accounting Standards (contd.) Employee benefit plans

Defined benefit plans

The Company offers the following employee benefit schemes to its employees:

i. Gratuity

ii. Other defined benefit plans (Leave Encashment)

The following table schemes and the amount recognised in the financial statements:

2.1 The Company has not received any Memorandum, (as required to be filed by the supplier which are registered with the Notified Authority under the provisions of the Micro, Small & Medium Enterprises Development Act, 2006) claiming their status as on 31 st March 2013 as Micro, Small and Medium Enterprise. Consequently, interest paid/payable to these parties during the year is NIL.

2.2 Dividend

Borad of Directors have proposed Dividend of Rs. 0.90 Per share on Paid up Share capital of 19166749 equity shares. The distribution of the Dividend is subject to approval by the shareholders.

Note 3 Previous year''s figures

Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.


Mar 31, 2012

1 Corporate information

The Company is engaged in the Manufacturing of Pet Preform, Crown Caps and CSD Closures. The company is continuously catering to the packaging needs of Beverages and Beer Industry of the country and abroad. The company has also interest in the Real Estates.

Particulars As at 31st As at 31st March, 2012 March, 2011 Rs. Rs. 2.1 Contingent liabilities and commitments (to the extent not provided for)

(i) Contingent liabilities

(a) Claims against the Company not acknowledged as debt Nil Nil

(b) Guarantees - Corporate Guarantee for Subsidiary Company i.e. AMD Estates and Developers (P) Limited 230.000,000.00 230,000,000.00 Particulars As at 31st As at 31st March, 2012 March, 2011 Rs. Rs.

(c) Other money for which the Company is contingently liable Nil Nil

2.2 The Company has not received any Memorandum, (as required to be filed by the supplier which are registered with the Notified Authority under the provisions of the Micro, Small & Medium Enterprises Development Act, 2006) claiming their status as on 31st March 2012 as Micro, Small and Medium Enterprise. Consequently, interest paid/payable to these parties during the year is NIL.

3. Segment information

The Company has identified business segments as its primary segment and geographic segments as its secondary segment. Business segments are primarily Packaging, Textile and Real Estate. Revenues and expenses directly attributable to segments are reported under each reportable segment. Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. All other expenses which are not attributable or allocable to segments have been disclosed as unallocable expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. All other assets and liabilities are disclosed as unallocable. Fixed assets that are used interchangeably amongst segments are not allocated to primary and secondary segments. Geographical revenues are allocated based on the location of the customer. Geographic segments of the Company are _Americas (including Canada and South American countries), Europe, India and Others._

4 The Revise3d Schedule VI has become effective from 1 April, 2011 For the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

Notes:

(i) The Cash Flow Statement reflects the combined cash flows pertaining to continuing and discounting operations.

(ii) These earmarked account balances with banks can be utilised only for the specific identified purposes.

The accompanying Notes 1 to 28 form integral part of these Financial Statements


Mar 31, 2011

1. CONTINGENT LIABILITIES NOT PROVIDED FOR

1) Bills discounted Rs. NIL.

ii) Bank Guarantees issued Rs. 144,65,220/- (Previous Year of Rs. 110,42,994/-)

iii) The company has given its corporate guarantee to the lender for loan of Rs.23 Crore financed to AMD Estates & Developers Pvt. Ltd., a subsidiary Company.

iv) Sales Tax demands under Local and Central Acts raised by the UP Trade Tax Authorities for Rs.9, 50,962/- and Rs. 31,18,745/- respectively for the years 1999-2000 to 2006-07 are pending for final decision as company has filed appeals before Hon'ble Supreme Court. Company has made provision for these liabilities by charge of Rs.41.00 Lac to Profit and Loss Account during the Financial Year 2009-2010.

v) The Sales Tax Authorities has raised a demand for the financial year 2005-06 of Rs 4,47,623/- respectively for non-submission of export certificate and the assessee has filed an appeal with the Appellate Authorities for the same. If case is awarded against the Company and liability crystallizes, profit of the Company shall stand reduced by the said amount.

vi) The Entry Tax demand for the financial year 2001-2002 Rs. 19,07,102/-has been raised by the UP Trade Tax Authorities. The company has filed appeal before Joint Commissioner. If case is awarded against the Company and liability crystallizes, profit of the Company shall stand reduced by the said amount.

vii) The Entry Tax demand for the financial year 2002-2003 Rs. 11,40,297/- has been raised by the UP Trade Tax Authorities. The company has filed writ before the Allahabad High Court for the same. If case is awarded against the Company and liability crystallizes, profit of the Company shall stand reduced by the said amount.

viii) The Entry Tax @ 5% has been levied by U P State Govt, on HSD and LDO for the Financial year 2004-05 & 2005-06 for Rs. 18,58,040/-. The company has filed writ before the Allahabad High Court. Company has made provision for these liabilities by charge of Rs. 19.00 Lac to Profit and Loss Account during the financial year 2009-2010.

ix) Workmen have made a Claim in the Financial Year 2002-2003 which is disputed by the Company in Labour Court. The estimated liability as assessed by the company is expected to be Rs. 2.00 Lac.If case is awarded against the Company and liability crystallizes; profit of the Company shall stand reduced by the said amount.

x) The Sales Tax Authorities have made order U/s 21 of the UPTT and has raised a demand for the financial year 2003-2004 of 10,31,276/- for sale U/s 4A and non submission of balance C form and the assessee has filed an appeal with the Additional Commissioner (Appeal) for the same. If case is awarded against the Company and liability crystallizes, profit of the Company shall stand reduced by the said amount.

xi) The Sales Tax Authorities has raised a demand for the financial year 2007-2008 of 2,02,382/- against enhancement of turnover and non-submission of 3B form and the assessee has filed an appeal with the Additional Commissioner (Appeal) for the same. If case is awarded against the Company and liability crystallizes, profit of the Company shall stand reduced by the said amount.

xii) The Sales Tax Authorities passed the order U/s 21 of the UPTT and has raised a demand for the financial year 2002-2003 of 1,34,99,898/- for sale U/s 4Aand non submission of C form and the assessee has filed an appeal with the Additional Commissioner (Appeal) for the same. Appellate Authority has remanded the case back to Assessing Authority. No provision has been made for any liability arising on assessment.

xiii) The Income Tax Authorities has disallowed expenses of Rs.41,20,000/- for the Financial Year 2004-05 and raised demand of Rs. 1,14,028/- after adjusting the Income Tax already paid by the company. The company has filed an appeal before Delhi High Court. If case is awarded against the Company the liability of Rs. 11,4,028/-crystallizes, profit of the Company shall stand reduced by the said amount.

xiv) The Excise Authorities had raised a demand for the financial year 2003-04 of Rs 9,31,360/- and interest thereon Rs 1,10,000/-. Assessee had filed an appeal with the Tribunal CESTAT, Delhi for the same. The case has been remanded back by the Tribunal to the Dy. Commissioner, Central Excise, Ghaziabad. No provision has been made for any liability arising on assessment.

xv) The company has been granted exemption from the payment of Central Sales Tax for its Neemrana Division subject to investment of Rs.30 Crore in Plant & Machinery in the above project by 31.12.2007. The date has been extended from 31.12.2007 to 31.03.2010 vide notification No. F.4 (6) FD/Tax-Div/03-Pt-103 dated 28.12.2010. The company has already made the investment in Plant & Machinery at Neemrana Division for more than Rs.30 Crore before 31.03.2010.

xvi) The Sales Tax Authorities has raised a demand for the financial year 2006-2007 of Rs. 1,02,55,306/- and the assessee has filed an appeal with the Deputy Commissioner (Appeal), Alwar. If case is awarded against the Company and liability crystallizes, profit of the Company shall stand reduced by the said amount.

2. The outstanding balances as on 31st March 2011 in respect of Sundry Debtors and Creditors are subject to confirmation from the parties.

3. In the opinion of management the value of the Current Assets, Loans & Advances and other receivable shown in the balance sheet are not less than their realizable value in the ordinary course of business.

4. The Company has not received any Memorandum, (as required to be filed by the supplier which are registered with the Notified Authority under the provisions of the Micro, Small & Medium Enterprises Development Act, 2006) claiming their status as on 31st March 2011 as Micro -Small and Medium Enterprise. Consequently, interest paid/payable to these parties during the year is NIL.

5. SEGMENTAL REPORTING AS PERAS-17

6. DOUBTFUL DEBTS: There are doubtful debts amounting to Rs. 15,92,552/- (Previous year Rs. 15,92,552/-) for which no provision has been made. The company has filed suit for recovery against these debts.

7. FORWARD EXCHANGE CONTRACT: Expenditure/(lncome) on account of Discount/Premium on forward exchange contracts to be recognized in the Profit and Loss Account of subsequent accounting period aggregate to Rs. (1663911 (/-(Previous Year Rs. 282722/-)

8. LEASES

The Company has taken office premises, residential apartments and car hire charges on cancellable lease. The Lease rent amounting to Rs. 148,07,222/- (Previous year 8220836/-) has been charged to the Profit and loss account during the year.

9. DERIVATIVE SUMMARY

10. PRELIMINARY EXPENSES

Preliminary expenditure is written off over a period of 5 years

11. PRIOR PERIOD EXPENSES/ INCOME:

Expenses and Income pertaining to the prior period below Rs.20000/- are treated as current year's expenses/incomes.

12. EARNING PER SHARE (EPS)

13. RELATED PARTY DISCLOSURE

In compliance of mandatory accounting standard AS-18 prescribed by I.C.A.I., the transaction with the related parties entered into by the company are given below: -

i) List of related parties where control exists and related parties with whom transactions have taken place and relationship:

Sl. Name of the Related Party Relationship No.

1 AMD Estates & Developers Private Ltd. Subsidiary Company

2 Prime Techno Build Private Ltd Subsidiary Company

3 Sh. H.S.Gupta Key Management Personnel

4 Sh. Adit Gupta Key Management Personnel

5 Sh.Ashok Gupta Key Management Personnel

6 Kadam Trees Properties Pvt. Ltd. Companies/Firms in which Director's are Interested

7 Ashoka Productions Communication Companies/Firms in which Pvt Ltd Director's are Interested

8 Ms. Vidhi Gupta Key Management Personnel Relative

9 Smt Chitra Gupta Key Management Personnel Relative

10 Ms. Mamta Gupta Key Management Personnel Relative

14. The previous year figures have been re-arranged and regrouped wherever necessary to make them comparable with those of Current year.

15. Schedule No. 1 to 22 form integral part of the balance sheet and Profit & Loss Account ended on 31st March 2011.


Mar 31, 2010

1. CONTINGENT LIABILITIES NOT PROVIDED FOR I) Bills discounted Rs. NIL.

ii) Bank Guarantees issued Rs.110,42,994/- (Previous Year of Rs. 18,13,220/-)

iii) Sales Tax demands under Local and Central Acts raised by the UP Trade Tax Authorities for Rs.9,50,962/- and Rs. 31,18,745/- respectively for the years 1999-2000 to 2006-07 are pending for final decision as company has filed appeals before Honble Supreme Court.Company has made provision for these liabilities by charge of Rs.41.00 Lac to Profit and Loss Account for the Year.

iv) The Sales Tax Authorities has raised a demand for the financial year 2001-2002, 2002-2003 & 2005-06 of Rs. 95098/- , Rs. 2,61,414/- & Rs 474111/- respectively for non submission of export certificate and the assessee has filed an appeal with the Appellate Authorities for the same. If case is awarded against the Company and liability crystallizes, profit of the Company shall stand reduced by the said amount.

v) The Entry Tax demand for the financial year 2001-2002 and 2002-2003 Rs. 19,07,102/- and Rs. 11,40,297/- respectively has been raised by the UP Trade Tax Authorities. Against these demands company has filed appeals with the Appellate Authorities for the same. If case is awarded against the Company and liability crystallizes, profit of the Company shall stand reduced by the said amount.

vi) The Entry Tax @ 5% has been levied by U P State Govt. on HSD and LDO w.e.f. 21.01.04. Liability of these on account of this is estimated at to Rs. 18,58,040/- till 31.03.2010. The company has filed writ before the Allahabad High Court. Company has made provision for these liabilities by charge of Rs.19.00 Lac to Profit and Loss Account for the Year

vii) The company has been granted exemption from the payment of Central Sales Tax for its Neemrana Division subject to investment of Rs 30 crore in Plant and Machinery in the above project by 31.12.2007. Company has approached State Govt of Rajasthan for grant of extension of time beyond 31.12.2007 for stipulated investment. Request of the company is still under consideration by the State Govt. The company has enjoyed exemption of Rs 4.22 crore under CST Act. till 31.3.2010. If case is awarded against the Company and liability crystallizes, profit of the Company shall stand reduced by the said amount.

viii) Claim of Rs. 2.00 Lacs made by workmen are disputed by the Company in Court of Law and have not been provided for in Books of Accounts. If case is awarded against the Company and liability crystallizes, profit of the Company shall stand reduced by the said amount.

ix) The Sales Tax Authorities have raised a demand of Rs.30740/- for the financial year 2007-2008 and the assessee has filed an appeal before the Appellate Authorities for the same. If case is awarded against the Company and liability crystallizes, profit of the Company shall stand reduced by the said amount.

x) The company has given its corporate guarantee to the lender for loan of Rs.18 Crore financed to AMD Estates & Developers Pvt. Ltd., a subsidiary Company.

2. The outstanding balances as on 31st March 2010 in respect of Sundry Debtors, Creditors Loans & Advances and other receivable Deposits are subject to confirmation from the parties.

3. In the opinion of management the value of the Current Assets, Loans & Advances and other receivable shown in the balance sheet are not less than their realizable value in the ordinary course of business.

4. The Company has not received any Memorandum, (as required to be filed by the supplier which are registered with the Notified Authority under the provisions of the Micro, Small & Medium Enterprises Development Act, 2006) claiming their status as on 31st March, 2010 as Micro, Small and Medium Enterprise. Consequently, interest paid/payable to these parties during the year is NIL.

5. There are doubtful debts amounting to Rs.1592552/- (Previous year Rs. 1592552/-) for which no provision has been made. The company has filed suit for recovery against these debts.

6. Expenditure on account of Premium/Discount on forward exchange contracts to be recognized in the Profit and Loss Account of subsequent accounting period aggregate to Rs. 282722/- (Previous Year Rs. NIL)

7. PRELIMINARY EXPENSES

Preliminary expenditure is written off over a period of 5 years.

8. PRIOR PERIOD EXPENSES / INCOME

Expenses and Income pertaining to the prior period below Rs.20000/- are treated as current years expenses/incomes.

9. The previous year figures have been re-arranged and regrouped wherever necessary to make them comparable with those of Current year.

10. Schedule No. 1 to 22 form integral part of the balance sheet and Profit & Loss Account ended on 31st March 2010.











 
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