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Notes to Accounts of Amines & Plasticizers Ltd.

Mar 31, 2023

LONG TERM BORROWINGS - NATURE OF SECURITY & TERMS OF REPAYMENT

Loan from banks carry interest ranging from 2.9% to 12.45% p.a. and are secured by way of hypothecation of Plant & Machinery & Equitable Registered Mortgage on some of the company''s immovable property and personal guarantees of promoter Directors.

Default in terms of repayment of principle and interest-NIL

The Company has used the borrowings taken from banks and financial institution for the specific purposes for which they were taken as at the balance sheet date

The Company has registered all the required charges with Registrar of Companies within the statutory period.

Company has made no default in making repayment of borrowings

The major term loan has been availed for financing of Dhule and Badlapur plant.

The term loan is secured by pari passu charge on the land & building and hypothecation of all the present & future immovable fixed assets and intangible assets pertaining to Dhule and Badlapur plant

NOTE 33 : NOTE ON MICRO SMALL OR MEDIUM ENTERPRISES

(a) the principal amount and the interest due thereon remaining unpaid to any supplier at the end of each accounting year. 247.19 lakh ( Previous Yr 281.60 Lakh )

(b) the amount of interest paid by the buyer in terms of section 16 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006), along with the amount of the payment made to the supplier beyond the appointed day during each accounting year; NIL ( Previous Year NIL)

(c) the amount of interest due and payable for the period of delay in making payment (which has been paid but beyond the appointed day during the year) but without adding the interest specified under the Micro, Small and Medium Enterprises Development Act, 2006; NIL (Previous year NIL)

(d) the amount of interest accrued and remaining unpaid at the end of each accounting year:NIL (Previous Year NIL)

(e) the amount of further interest remaining due and payable even in the succeeding years, until such date when the interest dues above are actually paid to the small enterprise, for the purpose of disallowance of a deductible expenditure under section 23 of the Micro, Small and Medium Enterprises Development Act, 2006.NIL ( Previous Year NIL)

The above table represent total exposure of the company towards foreign exchange denominated liabilities (Net) the companies policy is to hedge its exposure above pre defined threseholds from recognised liabilities and firm commitment. The company does not enter into any derivative instrument for trading or speculation purposes.

The company is mainly exposed to changes in USD.The below table demonstrates the sensitivity to a 5% increase or decrease in the USD against INR with all other variables held constant. The sensitivity anylisis ie prepared on the net unhedged exposure of the company as at the reporting date. 5% represents management''s assessments of reasonably possible change in foreign exchange rate.

NOTE 43:- A. EMPLOYEE BENEFITS AS PER IND AS 19:-

The Company has classified various employee benefits as under

a) Provident Fundb) Defined Contribution Plans

The Provident Fund and the State Defined Contribution Plans are operated by the Regional Provident Fund Commissioner.Under the schemes, the Company is required to contribute a specified percentage of payroll cost to the retirement benefit schemes to fund the benefits. These funds are recognised by the Income Tax Authorities.

c) Defined benefit gratuity plan (Funded)

The Company has defined benefit gratuity plan for its employees, which requires contributions to be made to a separately administered fund. It is governed by the Payment of Gratuity Act, 1972. Under the Act, employee who has completed five years of service is entitled to specific benefit. The level of benefits provided depends on the member''s length of service and salary at retirement age. Such Gratuity Fund is administered by the LIC of India.

Aforesaid post-employment benefit plans typically expose the Company to actuarial risks such as: investment risk,interest rate risk, longevity risk and salary risk.

A. Investment Risk: These Plans invest in long term debt instruments such as Government securities and highly rated corporate bonds. The valuation of which is inversely proportionate to the interest rate movements. There is risk of volatility in asset values due to market fluctuations and impairment of assets due to credit losses.

B. Interest Risk : The present value of the defined benefit liability is calculated using a discount rate which is determined by reference to market yields at the end of the reporting period on Government securities. A decrease in yields will increase the fund liabilities and vice-versa.

C. Salary Escalation Rate: The present value of the defined benefit liability is calculated by reference to the future salaries of plan participants. As such, an increase in salary of the plan participants will increase the plan''s liability.

D. Longevity Risk: The present value of the defined benefit liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan''s liability.

Quarterly statements of current assets filed by the company with banks are in agreement with the books of accounts.

x) Company is not declared wilful defaulter by any bank or financial institution or other lender.

xi) Company has no transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

xii) No charge or satisfaction of charge is yet to be registered with ROC beyond the statutory period.

Note:

1) Earning for Debts Service : Net profit after tax Non cash operating Expenses lioke Depreciation interest /- Other adjustment like Profit /(loss) on sales of asset.

2) Debt Service: Interest Payment Principle Payments.

3) Working Capital : Current Asset -Current Liabilities.

4) Capital Employed : Tangible Networth Total Debts Deferred Tax Liabilities.

xv) No scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013 during financial year 2022-23

(xvi) Utilisation of Borrowed funds and share premium

a) Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall (i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or (ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries;

b) Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall (i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or (ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

NOTE 51:

The Board has approved revised draft scheme of Amalgamation of M/s Pious Engineering Private Limited with the company at its meeting held on April 3, 2023, considering appointed date of Amalgamation as January 1 2023. The scheme will be implemented after a sanction by National Company Law Tribunal (NCLT).

NOTE 52:

Capital commitments (Net of Advances) Rs 206.81 lakhs. (P Yr. 158.64 lakhs)

NOTE 53:

Previous years figures are regrouped/rearranged wherever necessary, to conform to the layout of accounts of current year.


Mar 31, 2018

Note : 1 COMPANY INFORMATION

Amines & Plasticizers Limited (the ‘Company’) is a public limited Company incorporated in India in the year 1973 having its registered office located at Poal & Enclave c/o Pranati Builders Private Ltd, Principal J. B. Road, Chenikuthi Guwahati-781003 and corporate office located at 6th Floor, ‘D’ Building, Shiv Sagar Estate, Dr. Annie Besant Road, Worli, Mumbai - 400018. The Company is listed on the Bombay Stock Exchange (BSE).

The Company manufactures over 50 different varieties of organic chemicals / amines/ solvents / fertilizers. The main products manufactured are Methyl Diethonalamine (MDEA) and N Methyl Morpholine Oxide (NMMO) which are used in Petrochemicals and Oil refineries, Gas plants and Textiles. The Company has manufacturing facilities at Navi Mumbai and sells its products in Indian Market and is regularly exporting to various countries.

Note :

The Authorized Share Capital of the Company stands increased after adding the Authorized Share Capital of APL Engineering Services Pvt Ltd (wholly owned subsidiary Company, which now stands amalgamated) with the Company pursuant to the Order of Amalgamation dated 22nd March 2017 passed by the Hon. National Company Law Tribunal, Guwahati Bench, Assam.

2.1 Right, Preference and Restrictions attached to Equity Shares

The Company has only one class of equity shares having par value of Rs.2 per share. Each Shareholder is entitled to one vote per share. In the event of liquidation of the Company the holder of equity shares will be entitled to receive any of the remaining assets of the Company after distribution of all preferential payments. However, no such preferential amount exists currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuring Annual General Meeting, except in case of interim dividend. The Board of Directors at their Meeting held on May 30, 2018 has recommended a final Dividend of 15% (30 paise per share of Face Value Rs.2/- each) for the year ended March 31, 2018.

* Note :

(i) 1335 13% Non Convertible Debentures of Rs.1 Lac each have been issued which are redeemable at par at the end of 10 years from date of allotment, viz 24-03-2025 for Rs.740.00 lakhs & 31-03-2025 for Rs.595.00 lakhs. The company has an option to redeem these debenture earlier; however, no redemption will take place before the end of 1st year.

(ii) The above debentures holders shall get pari passu charge on assets allocated at Land & Building of the company at Survey No 49, Village Vadval, Taluka Khopoli, Dist. Raigad, Maharashtra.

* Note :

The above information regarding dues to Micro & Small Enterprises has been determined to the extent such parties have been identified on basis of information collected with the Company. This has been relied upon by the auditor.

3.1 Trade Payable include Rs.173.70 lakhs ( Rs.257.89 lakhs) being the amount of acceptances of Bills of Exchange by the Company, drawn by the Suppliers.

4 Leases

a) The Company has taken certain equipments and office premises under operating lease or on rental basis. This contract is not non-cancellable and a period ranging between 11 months and above and are renewable at the mutual consent on mutually agreeable terms. The rent/lease charges paid in accordance with this agreement is debited to the statement of profit and loss for the year.

b) The Company has given its equipments and office premises under operating lease or on leave and licence basis. These agreements are generally not non-cancellable and for a period ranging between 11 months and above and are renewable at mutual consent on mutually agreeable terms. The company has taken refundable interest free security deposits in accordance with the agreed terms. The rent received in accordance with these agreements is credited to the statement of profit and loss for the year.

5 Disclosure in Respect of Related Parties pursuant to INDAS-24 “Related Party Disclosures”, are given below :

A List of Related Parties

i) Party where control exists: Subsidiaries

APL Infotech Limited

ii) Other Related parties with whom the company has entered into transactions during the year

a) Member having significant influence over the Company

Multiwyn Investments & Holdings Private Limited

b) Key Management Personnel (including non Executive Directors)

Mr. Hemant Kumar Ruia - Chairman & Managing Director

Mr. Yashvardhan Ruia -Executive Director

c) Employee’ benfitis plan where there is significant influence Amines & Plasticizers Limited Employee’s Gratuity Fund

Amines & Plasticizers Limited Employee’s Providend Fund

d) Entities over which any person described in (b) above is able to exercise significant influence

Chefair Investment Pvt. Ltd.

Ruia Gases Private Limited

* Note :

i) No amounts in respect of related parties have been provided for/ written off / written back during the year.

ii) Related party relationship is as identified by the Company and relied upon by the Auditors.

The define benefit plans expose to the Company to a number of acturial risk

a) Investment Risk : The present value of the defined benefit plan liability is calculated using a discount rate determined by reference to government/high quality bond yields; if the return on plan asset is below this rate, it will create a plan deficit.

b) Interest Risk : A decrease in the bond interest rate will increase the plan liability; however, this will be partially offset by an increase in the return on the plan’s debt investments.

c) Salary Risk : The present value of the defined benefit plan liability is calculated by reference to the future salaries of plan participants. As such, an increase in the salary of the plan participants will increase the plan’s liability.

d) Longevity Risk : The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan’s liability.

Sensitivity analysis of 1% change in assumption used

Significant Actuarial Assumptions for the determination of the defined benefit obligation are discount rate, expected salary increase and employee turnover. The sensitivity analysis below, have been determined based on reasonable possible changes of the assumptions occurring at end of the reporting period , while holding all other assumptions constant. The result of Sensitivity analysis is given below :

6 The NCLT Guwahati Bench vide its Order dated March 22, 2017 has sanctioned the Scheme of Amalgamation of APL Engineering Services Pvt. Ltd. wholly owned Subsidiary of the Company with the Appointed date April 01, 2016. Accordingly, the Financial Statements of the Company as on April 01, 2016 include the effects of the Scheme and hence not comparable with the figures of 31st March, 2016.

7 The Company’s main business is Chemical manufacturing falls within a single business segment and therefore, segment reporting in terms Ind AS-108 “Operating Segments” is not applicable.

8 Capital Management

The Company manages its capital so as to safeguard its ability to continue as a going concern and to optimise returns to shareholders through the optimisation of the debt and equity balance. The capital structure of the Company consists of net debt (borrowings less cash and cash equivalents, other bank balances (including noncurrent earmarked balances)).The management and the Board of Directors monitors the return on capital to shareholders. The Company may take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

9 Financial Instruments and Risk Review Financial Risks Management Framework

The Company’s business activities are exposed to a variety of financial risks, namely Liquidity Risk, Currency Exchange Risk, Interest Rate Risk, Credit Risk and Commodity Price Risk. The Company’s management and the Board of Directors has the overall responsibility for establishing and governing the Company’s risk management framework. The risk management framework works at various levels in the enterprise. The organization structure of the Company helps in identifying, preventing and mitigating risks by the concerned operational Heads under the supervision of the Chairman & Managing Director. The risk management framework is reviewed periodically by the Board and the Audit Committee keeping a check on overall effectiveness of the risk management of the Company.

Credit Risk

Credit Risk is the risk of financial loss to the Company if a customer or counter-party fails to meet its contractual obligations. Financial instruments that are subject to credit risk principally consist of trade receivables, investments, loans, cash and cash equivalents, other balances with banks and other financial assets. None of the financial instruments of the Company result in material credit risk.

Credit risk with respect to trade receivables are limited, due to the Company has a policy of dealing only with credit worthy counter parties, where appropriate as a means of mitigating the risk of financial loss from defaults. All trade receivables are reviewed and assessed for default on a quarterly basis. Our historical experience of collecting receivables is that credit risk is low. Hence, trade receivables are considered to be a single class of financial assets. Credit risk on cash and cash equivalents, other bank balances with bank are insignificant as the Company generally invest in deposits with banks. Investments primarily investments in government securities.

The Company’s maximum exposure to credit risk as at 31st March, 2018, 2017 and 1st April, 2016 is the carrying value of each class of financial assets.

Foreign Currency Risk

The Company is subject to the risk that changes in foreign currency values impact the Company’s exports revenue and imports of raw material and property, plant and equipment. As at 31st March, 2018, the net unhedged exposure to the Company on holding assets (trade receivables and capital advances) and liabilities (trade payables and capital creditors) other than in their functional currency is as under.

Interest Rate Risk

Interest rate risk is measured by using the cash flow sensitivity for changes in variable interest rates. Any movement in the reference rates could have an impact on the Company’s cash flows as well as costs. The Company is subject to variable interest rates on some of its interest bearing liabilities. The Company’s interest rate exposure is mainly related to borrowing obligations.

Commodity Price Risk

The main raw materials which the Company procures are to a great extent linked to the movement of crude prices directly or indirectly.The pricing policy of the Company final product is structured in such a way that any change in price of raw materials is passed on to the customers in the final product however, with a time lag which mitigates the rawmaterial price risk.

Liquidity risk

Liquidity Risk arises when the company is unable to meet its short term financial obligations as and when they fall due. The company maintains adequate liquidity in the system so as to meet its all financial liabilities timely. In addition to this, the company’s overall financial position is very strong so as to meet any eventuality of liquidity tightness.

Financial Instruments

Fair value measurement hierarchy

The fair value of financial instruments as below have been classified into three categories depending on the inputs used in the valuation technique. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and lowest priority to unobservable inputs (Level 3 measurements).

The categories used are as follows

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2: Inputs other than the quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3: Inputs which are not based on observable market data

* Excludes financial assets measured at Cost Valuation

The fair values of the financial assets and liabilities are defined as 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. Methods and assumptions used to estimate the fair values are consistent.

Financial assets and liabilities measured at fair value as at Balance Sheet date :

The fair value of investment in quoted Equity Shares is measured at quoted price.

The fair value of the remaining financial instruments is determined using discounted cash flow analysis.

10 Events After the Reporting Period

The Board of Directors have recommended dividend of Rs.0.30 per fully paid up equity share of Rs.2/- each, aggregating Rs.198.38 Lacs, including Rs.33.32 Lacs dividend distribution tax for the financial year 2017-18, Subject to approval of shareholders at the Annual General Meeting.

11 Adoption of Indian Accounting Standards (Ind AS)

A. Mandatory exceptions to retrospective application

The Company has applied the following exceptions to the retrospective application of Ind AS as mandatorily required under Ind AS 101 “First Time Adoption of Indian Accounting Standards”.

i) Estimates

On assessment of estimates made under the Previous GAAP financial statements, the Company has concluded that there is no necessity to revise such estimates under Ind AS, as there is no objective evidence of an error in those estimates.

ii) Classification and measurement of financial assets

The classification of financial assets to be measured at amortised cost or fair value through profit & loss is made on the basis of facts and circumstances that existed on the date of transition to Ind AS.

B. Optional exemptions from retrospective application

Ind AS 101 “First time Adoption of Indian Accounting Standards” permits Companies adopting Ind AS for the first time to take certain exemptions from the full retrospective application of Ind AS during the transition. The Company has accordingly on transition to Ind AS availed the following key exemptions :

i) Deemed cost for property, plant and equipment and intangible assets

The Company has elected to measure all its property, plant and equipment and intangible assets at the Previous GAAP carrying amount as its deemed cost on the date of transition to Ind AS.

ii) Investments in subsidiaries

The Company has elected to measure its investments in subsidiaries at the Previous GAAP carrying amount as its deemed cost on the date of transition to Ind AS.

iii) Business combinations

“Ind AS 103 Business Combinations has not been applied to acquisitions of subsidiaries. The company has kept the same clasification for the past business combinations as in the previous GAAP financial statements.The company has excluded from its opening balance sheet those items recognised in accordance with previous GAAP that do not qualify for recognition as an asset or libility under Ind AS.

C. The following reconciliations provide the explanations and quantification of the differences arising from the transition from Previous GAAP to Ind AS in accordance with Ind AS 101:

i) Reconciliation of Equity as at 1st April, 2016 and 31st March, 2017

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

iii) Adjustments to Statement of Cash Flows for the year ended 31st March, 2017

1 Investments

Under Previous GAAP, the non current quoted equity investment were measured at cost . Under Ind AS, the Company has designated these investments at fair value through profit or loss (FVTPL). Accordingly, these investments are required to be measured at fair value. At the date of transition to Ind AS, difference between the fair value of the instruments and the carrying value under Previous GAAP has been recognised in retained earnings. Fair value changes are recognised in the Statement of Profit and Loss for the year ended 31st March, 2017.

2 Borrowings

In accordance with Ind AS 109 “Financial Instruments”, transaction costs on issue of debentures are required to be considered as effective finance costs and recognised in the statement of profit and loss using the effective interest rate. Consequently, transaction costs recognised directly in equity or amortised using a different approach under the Previous GAAP has been reversed and are now recognised through the statement of profit and loss using the effective interest rate.

3 Other Comprehensive Income

Under Ind AS, all items of income and expense recognised during the year are included in the profit or loss for the year, unless Ind AS requires or permits otherwise. Items that are not recognised in profit or loss but are shown in the statement of profit and loss and other comprehensive income include re-measurement gains or losses on defined benefit plans. The concept of other comprehensive Income did not exist under the Previous GAAP.

4 Employee Benefits

In accordance with Ind AS 19, “Employee Benefits” re-measurement gains and losses on post employment defined benefit plans are recognised in other comprehensive income as compared to the statement of profit and loss under the Previous GAAP.

Interest expense/income on the net defined benefit liability/ asset is recognised in the statement of profit and loss using the discount rate used for defined benefit obligation as compared to the expected rate used for recognising income from plan assets under the Previous GAAP.

5 Deferred Taxes

In accordance with Ind AS 12, “Income Taxes”, the Company on transition to Ind AS has recognised deferred tax on temporary differences, i.e. based on balance sheet approach as compared to the earlier approach of recognising deferred taxes on timing differences , i.e. profit and loss approach. The tax impacts as above primarily represent deferred tax consequences arising out of Ind AS re-measurement changes.

6 Excise Duty

Under Previous GAAP, excise duty was netted off against sale of goods. However, under Ind AS, excise duty is included in sale of goods and is separately presented as expense on the face of Statement of Profit and Loss. Thus, sale of goods under Ind AS has increased with a corresponding increase in expenses.

7 Deemed cost for property, plant and equipment and intangible assets

The Company has elected to measure all its property, plant and equipment and intangible assets at the Previous GAAP carrying amount as its deemed cost on the date of transition to Ind AS. Consequently, depreciation on revaluation portion recognised directly in equity under the Previous GAAP has been reversed and are now recognised through the statement of profit and loss.

iii) Adjustments to Statement of Cash Flows for the year ended 31st March, 2017

There were no material differences between the Statement of Cash Flows presented under Ind AS and the Previous GAAP.

12 Figures of previous year have been regrouped/rearranged, wherever considered necessary to conform to the current year’s presentation.


Mar 31, 2016

1 Right, Preference and Restrictions attached to Equity Shares

The Company has only one class of equity shares having par value of '' 2 per share. Each Shareholder is entitled to one vote per share. In the event of liquidation of the Company the holder of equity shares will be entitled to receive any of the remaining assets of the Company after distribution of all preferential payments. However, no such preferential amount exists currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

The Company declares and pays dividends in Indian rupees. The Board of Directors, in their meeting on March 16, 2016, declared an interim dividend of '' 0.20 per equity share (i.e 10%) on 55,020,000 Equity Shares of '' 2/- each for the financial year 2015-2016. The total dividend appropriation for the year ended March 31, 2016 amounted to '' 128.74 lakhs including corporate dividend tax of '' 18.70 lakhs.

2.During the year company has issued bonus shares at the rate 1:1 in the month of October 2015. The number of shares and potentially dilutive equity shares are adjusted retrospectively for all periods presented for any bonus shares issues.

Note :

i. 1335 13% Non Convertible Debentures of '' I Lac each have been issued which are redeemable at par at the end of 10 years from date of allotment, viz 24-03-2025 for '' 740.00 Lacs & 31-03-2025 for '' 595.00 Lacs. The company has an option to redeem these debenture earlier; however, no redemtion will take place before the end of 1st year.

ii. The above debentures holders shall get pari passu charge on assets allocated at Land & Building of the company at Survey No 49, Village Vadval, Taluka Khaopli, Dist. Raigad, Maharastra.

* Note : The above information regarding dues to Micro & Small Enterprises has been determined to the extent such parties have been identified on basis of information collected with the Company. This has been relied upon by the auditor.

3. Trade Payable include '' 151.50 lacs ('' 282.85 lacs) being the amount of acceptances of Bills of Exchange by the Company, drawn by the Suppliers.

4. i) In the opinion of the management, any of the assets other than fixed assets & non current investments which have value on realization in the ordinary course of business at least equal to the amount at they are stated.

ii) The accounts of certain Trade Receivables, Trade Payables, Loans and Advances are however, subject to formal confirmations/ reconciliations and consequent adjustments, if any. The management does not expect any material difference affecting the current years financial statements.

5. Disclosure in Respect of Related Parties pursuant to AS-18 “Related Party Disclosures”, are given below : A. List of Related Parties

i) Party where control exists: Subsidiaries APL Infotech Limited

APL Engineering Services Private Limited ( wholly owned subsidiary )

ii) Other Related parties with whom the company has entered into transactions during the year

a) Associates

Multiwyn Investments & Holdings Private Limited Chefair Investment Pvt. Ltd.

SMT. Bhagirathibai Manmal Gochar Trust

b) Key Management Personnel :

Mr. Hemant Kumar Ruia - Chairman & Managing Director

Pursuant to the Board’s approval in the meeting held on 27th August, 2015, the Company has issued bonus shares in the ratio of 1:1 in the month of October 2015. The number of shares and potentially dilutive equity shares are adjusted retrospectively for previous year for any bonus shares issues.

6. A scheme of arrangment under section 391 to 394 of the Companies Act, 1956 for merger of APL Engineering Services Pvt. Ltd, 100% subsidiary of the Company, has been approved by Board of Directors of the Company on 13.02.2013 and BSE Ltd. has issued observation letter on the same which is available for Members information on Company’s website. The Company had filed the application in the Guwahati High Court for necessary directions. The financial results do not carry effect of the said merger.

7. Corporate Social Responsibilities (CSR) activities

The Company has committed an amount of '' 15.50 Lakhs towards a project undertaken by Mr. Purushottam Modi for Sanskrit College at Ujjain and also another proposed project of building toilets for women in Rural areas of Maharashtra.

The details of CSR expenditure are mentioned as under :-

a) Gross Amount required to be spent by company during the year '' 15.35 Lacs

8. The Company has taken office premises on lease.

9. a) Figures shown in brackets are relatet to the previous year.

b) Figures of previous year have been regrouped/rearranged, wherever considered necessary to conform to the current year’s presentation.


Mar 31, 2015

1. Right, Preference and Restrictions attached to Equity Shares

The Company has only one class of equity shares having par value of ' 2 per share. Each Shareholder is entitled to one vote per share. In the event of liquidation of the Company the holder of equity shares will be entitled to receive any of the remaining assets of the Company after distribution of all preferential payments. However, no such preferential amount exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

The Company declares and pays dividends in Indian rupees. During the year ended 31st March 2015 Company has proposed dividend of Rs. 0.20 per share. The dividend proposed by the Board of directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

2. NOTES ON FINANCIAL STATEMENTS

As at As at 31st March, 31st March, 2015 2014 Rs. in lacs Rs. in lacs

1. Contingent Liabilities not provided for in respect of :

i) Disputed Sales Tax Dues - 10.04

ii) Claims against the Company not acknowledged as debts 5.14 5.14

iii) Disputed Income tax Matters (including interest upto date of 12.48 12.48 Demand)

iv) Corporate Guarantee to the extent of loan taken by Subsidiaries - 73.11

2. Estimated amount of contracts remaining to be executed on capital 404.90 479.26 account and not provided for (net of advances)

3. i) In the opinion of the management, any of the assets other than fixed assets & non Current

investments which have value on realization in the ordinary course of business at least equal to the amount at they are stated.

ii) The accounts of certain Trade Receivables, Trade Payables, Loans and Advances are however, subject to formal confirmations/ reconciliations and consequent adjustments, if any. The management does not expect any material difference affecting the current years financial statements.

4. Disclosure in Respect of Related Parties pursuant to AS-18 "Related Party Disclosures", are given below :

A. List of Related Parties

i) Party where control exists: Subsidiaries APL Infotech Limited

APL Engineering Services Private Limited (wholly owned subsidiary)

ii) Other Related parties with whom the company has entered into transactions during the year

a) Associates

Multiwyn Investments & Holdings Private Limited APL Holdings & Investments Limited APL Investments Limited Chefair Investment Pvt. Ltd.

b) Key Management Personnel :

Mr. Hemant Kumar Ruia - Chairman & Managing Director

13. A scheme of arrangment under section 391 to 394 of the Companies Act, 1956 for merger of APL Engineering Services Pvt. Ltd, 100% subsidiary of the Company, has been approved by Board of Directors of the Company on 13.02.2013 and BSE Ltd. has issued observation letter on the same which is available for Members information on Company's website. The company had filed the application in the Gauhati High Court for necessary directions. The financial results do not carry effect of the said merger.

5. Corporate Social Responsibilities (CSR) activities

The Company has committed an amount of Rs. 11.20 Lakhs towards a proposed project to be undertaken by Bhagirathibai Mammal Gochar Trust for betterment of cattle specially Cows in Haryana including constructing a boundary wall around the Gaushala at Ramgarh, Shekawati, Rajasthan to protect the cattle from falling prey to Wild animals and also another proposed project of building toilets for women in Rural areas of Maharashtra.

The details of CSR expenditure are mentioned as under :-

a) Gross Amount required to be spent by company during the year Rs.10.54 Lacs

6. The Company has taken office premises on lease.

7. a) Figures shown in brackets are relatet to the previous year.

b) Figures of previous year have been regrouped/rearranged, wherever considered necessary to conform to the current year's presentation.


Mar 31, 2014

As at As at 31.03.2014 31.03.2013 Rs. in lacs Rs. in lacs

1. Contingent Liabilities not provided for in respect of :

i) Disputed Sales Tax Dues 10.04 10.04

ii) Claims against the Company not acknowledged as debts 5.14 5.14

iii) Disputed Income tax Matters (including interest upto date of 12.48 11.52 Demand)

iv) Corporate Gurantee to the extent of loan taken by 73.11 145.90 Subsidiaries

2. Estimated amount of contracts remaining to be executed on 479.26 509.00 capital account and not provided for (net of advances)

3. i) In the opinion of the management, any of the assets other than fixed assets & non Current investments which have value on realization in the ordinary course of business at least equal to the amount at they are stated.

ii) The accounts of certain Trade Receivables, Trade Payables, Loans and Advances are however, subject to formal confirmations/ reconciliations and consequent adjustments, if any. The management does not expect any material difference affecting the current years financial statements.

4. There is a diminution of Rs. 46.31 lacs (Rs. 54.30 lacs) in the value of Long term Investments , the Management is hopeful of realising its investments, since fall in prices are temporary in nature and investment is in Bluechips & "A" Group Companies and therefore , no provision is considered necessary.

5. Disclosure in Respect of Related Parties pursuant to AS-18 "Related Party Disclosures", are given below :

A. List of Related Parties

i) Party where control exists: Subsidiaries APL Infotech Limited

APL Engineering Services Private Limited (wholly owned subsidiary)

ii) Other Related parties with whom the company has entered into transactions during the year

a) Associates

Multiwyn Investments & Holdings Private Limited APL Holdings & Investments Limited APL Investments Limited Chefair Investment Pvt. Ltd.

b) Key Management Personnel :

Mr. Hemant Kumar Ruia - Chairman & Managing Director

6. A scheme of arrangment under section 391 to 394 of the Companies Act, 1956 for merger of APL Engineering Services Pvt. Ltd, 100% subsidiary of the Company, has been approved by Board of Directors of the Company on 13.02.2013 and BSE Ltd. has issued observation letter on the same which is available for Members information on Company''s website. The company had filed the application in the Gauhati High Court for necessary directions. The financial results do not carry effect of the said merger.

7. The Company has taken office premises on lease. The lease agreement are normally renewed on expiry.

8. a) Figures shown in brackets are relatet to the previous year.

b) Figures of previous year have been regrouped/rearranged, wherever considered necessary to conform to the current year''s presentation.


Mar 31, 2013

1. i) In the opinion of the management, any of the assets other than fixed assets & non Current investments which have value on realization in the ordinary course of business at least equal to the amount at they are stated.

ii) The accounts of certain Trade Receivables, Trade Payables, Loans and Advances are however, subject to formal confirmations/ reconciliations and consequent adjustments, if any. The management does not expect any material difference affecting the current years financial statements.

2. There is a diminution of Rs. 54.30 lacs (Rs. 45.63 lacs) in the value of Long term Investments, the Management is hopeful of realizing its investments, since fall in prices are temporary in nature and investment is in Bluechips & "A" Group Companies and therefore, no provision is considered necessary.

3. i) Foreign exchange difference (net) debited to the Statement of Profit & Loss for the year Rs. 53.22 lacs (Rs. 97.86 lacs)

4. Disclosure in Respect of Related Parties pursuant to AS-18 "Related Party Disclosures", are given below :

A. List of Related Parties

i) Party where control exists: Subsidiaries APL Infotech Limited

APL Engineering Services Private Limited (wholly owned subsidiary)

ii) Other Related parties with whom the company has entered into transactions during the year

(a) Associates

Multiwyn Investments & Holdings Private Limited APL Holdings & Investments Limited APL Investments Limited Chefair Investment Pvt. Ltd.

(b) Key Management Personnel :

Mr. Hemant Kumar Ruia - Chairman & Managing Director

Notes :

i) No amounts in respect of related parties have been provided for/ written off / written back during the year.

ii) Related party relationship is as identified by the Company and relied upon by the Auditors.

5. A scheme of arrangement under section 391 to 394 of the Companies Act 1956 for merger of APL Engineering Services Pvt. Ltd., 100% subsidiary of the Company, has been approved by the Board of Directors of the Company on 13.02.2013 and has been filed with Bombay Stock Exchange Ltd. and SEBI for its approval. The financial results do not carry effect of the said merger.

6. The Company has taken office premises on lease. The lease agreement are normally renewed on expiry.

7. (a) Figures shown in brackets are related to the previous year.

(b) Figures of previous year have been regrouped/rearranged, wherever considered necessary to conform to the current year''s presentation.


Mar 31, 2012

1.1 Right, Preference and Restrictions attached to Equity Shares

The Company has only one class of equity shares having par value of Rs. 10 per share. Each Shareholder is entitled to one vote per share. In the event of liquidation of the Company the holder of equity shares will be entitled to receive any of the remaining assets of the Company after distribution of all preferential payments. However, no such preferential amount exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

The Company has compiled the above information based on the status submitted by the suppliers under the said Act.

1.2 Trade Payable include Rs. 1714.36 lacs (Rs. 1585.98 lacs) being the amount of acceptances of Bills of Exchange by the Company, drawn by the Suppliers.

1.3 Leasehold land is for the period of 95 years commencing from 1st August, 1968.

1.4 The Company has revalued Leasehold Land, certain Buildings, Plant & Equipment in the year 1990-91 on the basis of reports of an external approved valuer on market value/replacement cost using standard indices. The revalued amounts (net of withdrawals) remaining substituted for the historical cost in the gross block of fixed assets as at the close of the year are Leasehold Land. Rs 219.94 lacs (Rs 219.94 lacs), Buildings Rs 50.93 lacs (Rs. 50.93 lacs), Plant & Equipment Rs 700 lacs. (Rs. 700 lacs).

As at As at 31.03.2012 31.03.2011 Rs.in lacs Rs.in lacs

1. Contingent Liabilities not provided for in respect of:

i) Disputed Sales Tax Dues 10.04 10.04

ii) Disputed Excise Duty matters 2.75 2.75

iii) Claims against the Company not acknowledged as debts 5.14 5.14

iv) Corporate Gurantee to the extent of loan taken by subsidiaries 219.35 291.87

v) Disputed Income tax Matters (including interest upto date of Demand) 29.36 -

2. Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) 21.32 14.79

3. i) In the opinion of the management, any of the assets other than fixed assets & non Current investments have value on realization in the ordinary course of business at least equal to the amount at they are stated.

ii) The accounts of certain Trade Receivables, Trade Payables, Loans and Advances are however, subject to formal confirmations/reconciliations and consequent adjustments, if any. The management does not expect any material difference affecting the current years financial statements.

4. There is a diminution of Rs. 45.63 lacs (Rs. 41.79 lacs )in the value of Long term Investments, the Management is hopeful of realising its investments, since fall in prices are temporary in nature and investment is in Bluechips & "A" Group Companies and therefore, no provision is considered necessary.

10. Disclosure in Respect of Related Parties pursuant to AS-18 "Related Party Disclosures", are given below :

A. List of Related Parties

i) Party where control exists: Subsidiaries APL Infotech Limited

APL Engineering Services Private Limited ( wholly owned subsidiary )

ii) Other Related parties with whom the company has entered into transactions during the year

a) Associates

Multiwyn Investments & Holdings Private Limited APL Holdings & Investments Limited APL Investments Limited Chefair Investment Pvt. Ltd.

b) Key Management Personnel :

Mr. Hemant Kumar Ruia - Chairman & Managing Director

Notes :

i) No amounts in respect of related parties have been provided for/ written off / written back during the year.

ii) Related party relationship is as identified by the Company and relied upon by the Auditors.

13. The Company has taken/ given certain premises on lease, the lease agreements whereof are mutually renewable / cancellable.

14. a) Figures shown in brackets relate to the previous year.

b) Figures of previous year have been regrouped/rearranged, wherever considered necessary to conform to the current year's presentation.


Mar 31, 2010

31.03.2010 31.03.2009 Rs. Rs.

1. Contingent Liabilities not provided for in respect of (excluding interest, if any) :

i) Disputed Sales Tax Dues 1,003,533 1,003,533

ii) Claims against the Company not acknowledged as debts 1,368,024 1,368,024

2. Estimated amount of contracts remaining to be executed

on capital account and not provided for (net of advances) 2,180,698 225,000

3. The Company has revalued Leasehold Land, certain Buildings, Plant & Machinery, Research & Development Equipment and Effluent Treatment Plant in the year 1990-91 on the basis of reports of an external approved valuer on market value/replacement cost using standard indices. The revalued amounts (net of withdrawals) remaining substituted for the historical cost in the gross block of fixed assets as at the close of the year are Leasehold Land. Rs.21,994,500 (Rs.21,994,500), Buildings Rs.7,509,750 (Rs.7,509,750), Plant & Machinery Rs.68,530,500. (Rs.68,530,500), Research & Development Equipment Rs.470,500 (Rs.470,500) and Effluent Treatment Plant Rs. 1,000,000 (Rs.1,000,000).

4. (a) The accounts of certain Debtors, Creditors, Loans & Advances are pending confirmations, reconciliations, and adjustments, if any, having consequential impact on the profit for the year, assets and liabilities, the amounts whereof are presently not ascertainable. The management, however, does not expect any material difference affecting the current years financial statements.

(b) In the opinion of the Board, the Current Assets and Loans and Advances are approximately of the value stated, if realised in the ordinary course of business unless otherwise stated. The provisions for depreciation and for all known liabilities are adequate and reasonable.

5 Sales & Services is exclusive of Rs 456,060,324 (Previous year Rs. Nil ), being the amount of sale of trading shares & securities. Similarly purchases for resale is exclusive of Rs. 468,244,556 (Previous year Rs. Nil), being the amount of purchase of trading shares & securities,also increase /decrease in stock is exclusive of Rs.8,202,612 (Previous year Rs. Nil) being the Closing stock of Trading shares and Securities. Loss on shares and securities is shown in Schedule 12 of "Manufacturing and Other Expenses".

6. The Company has not received any intimation from the suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act have not been given.

7. Sundry Creditors include Rs. 135,398,289 (Rs.97,367,617) being the amount of acceptances of Bills of Exchange by the Company, drawn by the Suppliers.

8. The break up of the deferred tax (liabilities)/assets (net) is as follows :

The above excludes provision for gratuity liability.and leave entitlement for the current year which is actuarially determined on an overall basis. 12. i) Foreign exchange difference (net) debited to the Profit & Loss Account for the year Rs.5,747,817 (Rs.3,383,003)

* Excluding proportionate quantity and value of materials purchased for repacking and received for conversion and captive use.

9. Related Party Disclosures :

Related party disclosures, as required by AS-18 "Related Party Disclosures", are given below :

a) Parties with whom the Company has entered into transactions during the year in the ordinary course of business.

i) Party where control exists: Subsidaries APL Infotech Limited APL Engineering Services Private Limited (wholly owned subsidiary)

ii) Companies where Key Management Personnel have significant influence : Associates Multiwyn Investments & Holdings Private Limited APL Holdings & Investments Limited APL Investments Limited

iii) Key Management Personnel : Mr. Hemant Kumar Ruia - Chairman & Managing Director

Notes :

i) No amounts in respect of related parties have been provided for/ written off / written back during the year.

ii) Related party relationship is as identified by the Company and relied upon by the Auditors.

10. Disclosure as required by Accounting Standard 15 (Revised) on Employee Benefits:

11. The Company has taken/ given certain premises on lease, the lease agreements whereof are mutually renewable / cancellable.

NOTE:

1. Installed Capacity as certified by the Chairman & Managing Director and relied upon by the auditors, this being a technical matter.

2. Actual production includes 1197.835 M.T. (684.370 M.T.) of Ethanolamines, 106.530 M.T. (95.930 MT) of Morpholine and 2.645 MT (-) of Plasticizers used for captive consumption.

3. Closing Stock excludes handling / transit losses & samples.

4. No production in Plasticizers plant due to lack of market demand and the same is revamped to produce Morpholine derivatives.

5. Actual production includes 1137.690 M.T. ( 851.69 M.T.) of Ethanolamines produced by job work.

6. Due to numerous and heterogeneous nature of trading in shares and securities, quantitative details of the same can not be given, (also Refer Note no B (5) of Schedule 13)

12. a) Figures shown in brackets relate to the previous year.

b) Figures of previous year have been regrouped/rearranged, wherever necessary to conform to the current years presentation.

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