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Notes to Accounts of Amines & Plasticizers Ltd.

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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