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Notes to Accounts of AMD Industries Ltd.

Mar 31, 2018

Note 1 COMPANY OVERVIEW, BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES

1.1. Company Overview

AMD Industries Limited (“AMDIL” or “the company”) is a public company domiciled in India and is incorporated under the provisions of the Companies Act applicable in India. Its shares are publicly traded on the National Stock Exchange (“NSE”) and the Bombay Stock Exchange (“BSE”) in India. The registered office of AMDIL is situated at 18, Pusa Road, 1st, Floor, Karol Bagh, New Delhi -110005, India. The Company is engaged in the manufacturing of Pet Preform, Pet Bottles, Crown Caps, Closures, Pet Jar and Containers. The company is also engaged in job work operation of pet preforms. The company is continuously catering to packaging needs of Beverages and Beer Industry of the country and abroad. The Company has also Interest in Real Estates Business.

2 Basis of Preparation of financial statements

A Statement of Compliance

Company has adopted Indian accounting Standard (Referred to as “IND AS”) as notified by Companies (Indian Accounting Standards) Rules 2015 read with Section 133 of the Companies Act, 2013 with effect from 1 April 2017. Previous period has been restated as per Ind AS.

These are the company’s first financial statements for the year ended 31 March 2018 that has been prepared in accordance with Ind AS notified under the Companies (Indian Accounting Standards) Rules, 2015 as amended by the Companies (Indian Accounting Standards) (Amendment) Rules, 2016, read with Ind AS based Schedule III, under the Companies Act, 2013.

For all periods up to and including for the year ended 31 March 2018, the company’s financial statements prepared complying in all material respects with the accounting standards notified under Section 133 of the Companies Act 2013, read together with paragraph 7 of the Companies (Accounts) Rule, 2014.

The Company has consistently applied the accounting policies used in the preparation of its opening IND AS Balance Sheet at April 1, 2016 throughout all periods presented, as if these policies had always been in effect and are covered by IND AS 101 ‘’First-time adoption of Indian Accounting Standards’’. The transition was carried out from accounting principles generally accepted in India (‘’Indian GAAP’’) which is considered as the previous GAAP, as defined in IND AS 101. The reconciliation of effects of the transition from Indian GAAP to IND AS is disclosed in Note No 45 to these financial statements. The Company’s financial statements provide comparative information in respect to the previous year. In addition, the company presents Balance Sheet as at the beginning of the previous year, which is the transition date to IND AS.

Exemptions and Exceptions availed

The Company has prepared the financial statements in accordance withINDAS for the year ending 31 March 2018. In preparing such statementsthe opening balance sheet was prepared at 1 April 2016, the company’s date of transition to IND AS. The note explain principal; adjustments made in order to restate its Indian GAAP financial statements including the balance sheet as at 1 April 2016 and financial statements as at and for the year end 31 March 2017. Set out below are the applicable Ind AS 101 optional exemptions and mandatory exceptions applied in the transition from previous GAAP to Ind AS.”

EXEMPTIONS:

i) Property, Plant & Equipment

The Company has opted to continue with the carrying value for all of its property,plant and equipment as recognised in the previous GAAP financial statements as their deemed cost at the transition date to Ind AS (i.e. 1st April,2016)

ii) Deemed cost of Investment Properties:

The Company has elected to continue with the carrying value for all of its Investment Properties as recoginsed in the previous GAAP financial statements as their deemed cost at the transition date to Ind AS (i.e. April 1, 2016).

iii) Leases

Company has first time classified Land Lease as Finance Lease and company has adopted the policy specified as per para 9AA of appendix-D of Ind AS 101 and has recognised assets at fair value on that date; and any difference between those fair values is recognised in retained earnings. On the date of transition to Ind AS, the carrying amount of land lease is considered as its Fair Value.

EXCEPTIONS:

i) Estimates

An entity’s estimates in accordance with Ind AS at the date of transition to Ind AS shall be consistent with estimates made for the same date in accordance with previous GAAP (after adjustments to reflect any difference in accounting policies), unless there is objective evidence that those estimates were in error.

ii) Classification and Measurement of financial assets

Ind AS 101 requires an entity to assess classification and measurement of financial assets on the basis of the facts and circumstances that exist at the date of transition to Ind AS.

B Basis of measurement

The financial statements are prepared on Historical Cost basis except for certain financial assets and liabilities that are measured at fair value (Refer accounting policy regarding Financial Instruments). The accounting policies not specifically referred to otherwise, are consistent and in consonance with generally accepted accounting principles. All income and expenditure are being accounted for on accrual basis.

Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

C Functional and Presentation currency

These financial statements are presented in Indian Rupees (INR), which is the Company’s functional currency. All financial information presented in INR has been rounded to the nearest lakh (up to two decimals), except as stated otherwise.

D Use of Estimates

In preparing Company’s financial statements in conformity with accounting principles generally accepted in India, management is required to make estimates and assumptions that affect the reported amount of assets and liabilities and the disclosure of contingent liabilities at the date of the financial statements and reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Any revision to accounting estimates is recognized in the period in which the same is determined.

E Current and non-current classification

The Company presents assets and liabilities in the balance sheet based on current/non-current classification.

An asset is current when it is:

- Expected to be realized or intended to sold or consumed in normal operating cycle;

- Held primarily for the purpose of trading;

- Expected to be realized within twelve months after the reporting period; or

- Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. All other assets are classified as non-current.

A liability is current when:

- It is expected to be settled in normal operating cycle;

- It is due to be settled within twelve months after the reporting period; or

- There is no unconditional right to defer settlement of the liability for at least twelve months after the reporting period.

All other liabilities are classified as non-current.”

Note 3 Disclosure as per Micro, Small And Medium Enterprises Development (MSMED) Act, 2006

The Company has sent the confirmation letter to its supplier at the year end to identify the supplier registered with Disclosure as per Micro, Small and Medium Enterprises Development (MSMED) Act, 2006.As per the informatin available with the company none of its supplier has confirmed that they are registered under the Act.In view of this, the liablity of ineterst has not been provided nor is required disclosure done.

NOTE 4 Dividend

Board of Directors have not proposed any Dividend for the Financial Year 2016-17 and 2017-18.

It is not possible to predict the outcome of the pending litigations with accuracy, the Company believes, based on legal opinions received, that it has meritorious defenses to the claims.The management believe that pending actions will not require outflow of resources embodying economic benefits and will not have a material adverse effect upon the results of the operations,cash flows or financial condition of the company.

Note 5 Employee Benefits

The disclosures required under ind AS 19 “Employee Benefits” notified in the companies (Indian Accounting Standards) Rules, 2015 are as given below:

The average duration of the defined benefit plan pbligation at the end of the reporing year is 8 years (March,2017: 13 years)

Defined Benefit Plan (Contd.)

(ii) Sensitivity analysis

Reasonably possible changes at the year end, to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation as the amounts shown below:

(iii) The expected return on plan assets is determined considering several applicable factors mainly the composition of the plan assets held, assessed risks of assets management, historical results of return on plan assets and the policy for plan assets management.

(iv) The estimates of future salary increase, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market.

(b) Defined Contribution Plans

Employer’s contributions to Provident and other Funds charged off during the year ended 31st March, 2018 of Rs.46.72 Lacs (Previous Year : Rs.46.60 Lac) has been included under the head Employee Benefits Expense. (Refer Note No. 28)

Note 6 Related Party Disclosure

(i) The related parties as per the terms of Ind AS-24, “Related Party Disclosure”, (specified under section 133 of the Companies Act,2013, read with Rule 7 of Companies (Accounts) Rules 2015) are disclosed below :

Name of related parties with wom transactions have taken place during the year:

(A) Enterprises in which directors are interested

AMD Estates and Developers (P) Limited Ashok Sons (HUF)

(B) Key Management Personnel

Mr. Prabir Kumar Mukhopadhyay - Chief Financial Officer Ms. Radha Shakti Garg - Company Secretary

(C) Relative of Key Management Personnel

Ms. Sonali Mukhopadyay

(D) Directors

Mr. Ashok Gupta - Chairman

Mr. Adit Gupta - Managing Director

Mr. Mahipal - Independent Director

Mr. Prabhat Krishna - Independent Director

Ms. Shubha Singh - Independent Director

(E) Directors Relative

Ms. Chitra Gupta Ms. Mamta Gupta Ms. Vidhi Bajoria

(F) Enterprises over which persons described in (E) is able to exercise significant influence

M/s Pink Dreams Studio

Note - 7 Financial Risk Management Objectives and Policies

The company’s activities are exposed primarily to financial risks from its operations. The key financial risks include market risk (including foreign currency risk, interest rate risk and commodity price risk), credit risk and liquidity risk.The company’s overall risk management policy seeks to minimise potential adverse effects on company’s financial performance.

1 Market Risk: Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises mainly three types of risk: interest rate risk, currency risk and other price risk such as commodity price risk.

(a) Foreign Currency Risk: Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The company has foreign currency trade payables and receivables and is therefore, exposed to foreign exchange risk.

The company takes appropriate hedges to mitigate its risk resulting from fluctuations in foreign currency exchange rate(s).

(b) Interest Rate Risk: Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Any changes in the interest rates environment may impact future rates of borrowing. The company mitigates this risk by regularly assessing the market scenario, interest rate negotiations with the lenders for ensuring the cost effective method of financing.

( c) Commodity Price Risk: The company is affected by the price volatility of certain commodities. its operating activities require the purchase of raw material and manufacturing of Pet Preform, Pet Bottles, Crown Caps, Closures, Pet Jar and Containers, and therefore, requires a continuous supply of certain raw materials and components such as Poly Propylene, Tin Free Steel Sheets , Inks,Chemical,Spares etc. To mitigate the commodity price risk, the company has an approved supplier base to get best competitive prices for the commodities and to assess the market to manage the cost without any compromise on quality.

2 Credit Risk: Credit risk is the risk that counterparty might not honor its obligations under a financial instrument or customer contract, leading to a financial loss.Credit risk encompasses of both, the direct risk of default and the risk of deterioration of creditworthiness as well as concentration of risk.Credit risk is controlled by analysing credit limits and creditworthiness of customers on a continuous basis to whom the credit has been granted after obtaining necessary approvals for credit. Financial instruments that are subject to concentrations of credit risk principally consist of trade receivables.

Trade Receivables: Customer credit risk is managed based on company’s established policy, procedures and controls. The company assesses the credit quality of the counterparties, taking into account their financial position, past experience and other factors.

For trade receivables Company applies ‘simplified approach’ which requires expected lifetime losses to be recognised from initial recognition of the receivables. The Company uses historical default rates to determine impairment loss on the portfolio of trade receivables. At every reporting date these historical default rates are reviewed and changes in the forward looking estimates are analysed.

Credit risk is reduced by receiving pre-payments and export letter of credit to the extent possible. The company has a well defined sales policy to minimize its risk of credit defaults. Outstanding customer receivables are regularly monitored and assessed. impairment analysis is performed based on historical data at each reporting date on an individual basis.

3 Liquidity Risk: Liquidity risk is the risk, where the company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The company’s approach is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when due.

Note 8 Capital Management

The company’s policy is to maintain an adequate capital base so as to maintain creditor and market confidence and to sustain future development. capital includes issued capital, share premium and all other equity reserves attributable to equity holders.The primary objective of the Company’s capital management is to maintain an optimal structure so as to maximise the shareholder’s value. In order to strengthen the capital base, the company may use appropriate means to enhance or reduce capital, as the case may be.

The company is not subject to any external imposed capital requirement.The company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. Net Debt is calculated as borrowings less cash and cash equivalents.

Note 9 Segment Reporting

As the Company’s business activity primarily falls within a single business and geographical segment i.e. Packaging Business, thus there are no additional disclosures to be provided under Ind AS 108 - “Operating Segment”.The management considers that the various goods and services provided by the Company constitutes single business segment since the risk and rewards are not different from one another.

NOTE - 10 RECONCILIATIONS

The following reconciliations provide a quantification of the effect of significant differences arising as a result of transition from Previous GAAP to ind AS in accordance with ind AS 101:

- Reconciliatin of Equity as at April 01, 2016 (date of transition to Ind-AS)

- Reconciliatin of Equity as at March 31, 2017

- Reconciliation of Statement of Profit and Loss for the year ended 31st March, 2017

- Notes to Reconciliation of Equity as at April 01,2016 & March 31,2017 and Statement of Profit and Loss for the year ended 31st March, 2017

Notes to Reconciliation of Equity as at April 01,2016 & March 31,2017 and Statement of Profit and Loss for the year ended 31st March, 2017

A. Property, Plant and Equipment (PPE)- Fair Value as Deemed cost in IND AS

Ind AS 101 permits first time adopter to elect to continue with the carrying value for all of its property, plant and equipment as recognized in financial statement as at date on transition to IndAS , measured as the previous GAAP and use that as its deemed cost as at date of transition. Accordingly Company has elected to measure all of its Property, Plant and Equipment at their previous GAAP carrying value and major spares parts where life more than one year has been capitalized as on date of transition to Ind AS and depreciation has been charged on amount capitalised. Further corresponding impact on value of inventories has also been recognised.Value of Spare parts amounting to Rs.1.38 Crore as on 31st March, 2017 are included in capitalised cost.

Leasehold land capitalised under previous GAAP has now been classified as operating lease in accordance with Ind AS and premium paid on such land has been amortised to the extent of expired period of lease. Remaining lease value shall be amortised during the remaining lease life of the land.

B. Investments Properties

Investments in real estates amounting to Rs.441.81 Lacs shown as inventory in previous GAAP has been classified as investment properties at book value in accordance with Ind AS.Depreciation of Rs.7.36 Lacs has been charged for financial year 2016-17.

C. Investments other than investment in Subsidiary and joint venture

Under Indian GAAP non-current investments other than investment in subsidiary, joint venture are measured at cost less any permanent diminution in value of investment. Difference between the cost and market price is recognized in profit and loss.Under Ind AS, investments are designated as fair value through profit and loss (FVTPL)

On the transition date the Investments in Quoted Shares and Mutual Funds have been measured at their fair value which is greater than the cost as per previous GAAP, resulting in increase in carrying amount by Rs.3.42 Lacs as at transition date with resulting gain adjusted in retained earnings.Prescribed measurement has been carried out in subsequent year as well.

D. Fair valuation of financial assets and liabilities

Under Indian GAAP, receivables and payables were measured at transaction cost less allowances for impairment, if any. Under IND AS, these financial assets and liabilities are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less allowance for impairment, if any. The resulting finance charge or income is included in finance expense or finance income in the Statement of Profit and Loss for financial liabilities and financial assets respectively.

On the date of transition i.e. 01.04.2016 company has made provision for loss allowance for Rs.154 Lac which under previous GAAP had been recognised in Financial Year 2016-17 accordingly trade receivables have been reduced as on that date.

Under previous GAAP, premium on forward exchange contract was amortised over the period of the forward contract and derivatives, other than the forward exchange contract, taken against the existing underlying liabilities, which were Mark-to-Market (MTM) and only losses were provided whereas gains were ignored as per the principles of prudence.As per Ind AS, all the derivative instruments are recognised at Mark-to-Market and there is no amortisation of premium cost

The Company has recognised Mark-to-Market loss/(gain) on the derivative instruments and reversed the amortisation of premium which has resulted in decrease in other current asstes by Rs.165.71 Lac and also decrease in other current liabilities by Rs.161.16 Lacs as on March 31,2017.Differential amount of Rs.4.55 Lac recognised as MTM loss as on March 31,2017 is adjusted with retained earnings.

E. Borrowings

Borrowing designated and carried at amortised cost are accounted on EIR (Effective Interest Rate) method. The upfront fee or cost of borrowing incurred is deferred and accounted on EIR. Borrowings are shown as net of unamortised amount of upfront fee incurred.

Accordingly borrowings as at April 1,2016 and March 31,2017 have been reduced by Rs.26.78 Lacs and Rs.32.89 respectively with a corresponding adjustment to Retained earnings in respective years.Net impact of Rs.6.11 Lacs is charged in the statement of profit and loss for the year ended March 31,2017 in accordance with Ind AS.

F. Deferred Tax

Previous GAAP requires deferred tax accounting using the income statement approach, which focuses on differences between taxable profits and accounting profits for the period.Ind AS requires entities to account for deferred taxes using the balance sheet approach, which focuses on temporary differences between the carrying amount of an asset or liability in the balance sheet and its tax base.

The various transitional adjustments mainly increase in Property,Plant and Equipment lead to temporary change in value.Deferred tax adjustments are recognised in correlation to the underlying transactions.The net impact on deferred tax liablities of Rs.98.46 Lacs has been recoginsed as on the date of transition and further impact on deferred tax liabilities of Rs.6.43 Lacs has been recognised as on March 31,2017.Deferred tax asset arising due to remeasurement of Defined Benefit Plan has also been recognised as on March 31, 2017.

G. Provisions

Under previous GAAP, proposed dividend including dividend distribution tax (DDT) are recognised as a liablity in the period to which they relate, irrespective of when they are declared.Under Ind AS, a proposed dividend is recognised as a liablity in the period in which it is declared by the Company (usually when approved by shareholders in a general meeting) or paid.

In case of the Company, the declaration of dividend occurs after the year end.Liablities including dividend distribution tax (DDT) for the year ended March 31,2016 has been de-recognised against Retained Earnings on April 01, 2016.

H. Revenue

Under Ind AS, Revenue is recognized at the fair value of the consideration received or receivable. As a result, discounts are required to be reduced from sales.

To comply with the requirements of Ind AS discounts on sales and purchase have been recognised in respective major head.

I. Defined benefit obligations

The impact of change in actuarial assumption and experience resulting in adjustments for defined benefit obligation towards gratuity liability is accounted in the Statement of Other Comprehensive Income along with its corresponding tax impact.

NOTE -11

During the year the Company has capitalised the borrowing cost of Rs.9.04 Lac under the head Plant and Equipment.

NOTE -12

The impact of transition from Indian GAAP to IND AS on the Statement of Cash Flows is due to various reclassification adjustments recorded under IND AS in Balance Sheet and Statement of Profit & Loss.

NOTE -13

Figures Relating to April 1, 2016 (date of transition) and previous year have been restated/regrouped/reclassified wherever necessary to make them comparable with the current year figures.

NOTE -14

Figures in Balance Sheet, Statement of Profit and Loss and Notes to audited financial statements have been rounded off to the nearest thousand and have been expressed in terms of decimals.


Mar 31, 2016

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 2016 as Micro, Small and Medium Enterprise. Consequently, interest paid/payable to these parties during the year is NIL.

2. Disclosure as per Clause 32 of the Listing Agreements / listing regulations 2015 with the Stock Exchanges Loans and advances in the nature of loans given to subsidiaries without any specific repayment schedule (Refer Note 33):

3 Details on derivatives instruments and unheeded foreign currency exposures

Particulars_

I. The following derivative positions are open as at 31 March, 2016. 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.

(i) Outstanding forward exchange contracts entered into by the Company as on 31 March, 2016

Note 4. Information of subsidiaries as required under 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 5. 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, 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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