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Notes to Accounts of Amrutanjan Health Care Ltd.

Mar 31, 2015

1. BACKGROUND

Amrutanjan Health Care Limited was established in the year 1893 and specializing in Ayurvedic balm for headaches, cold and cough. The Company is a public limited company and is listed on the Bombay Stock Exchange(BSE) and the National Stock Exchange (NSE).

2. Monies for which the company is contingently liable :

a. Bonds executed in favour of Collector of Central Excise, Chennai - Rs. 8,00,000/- ( Rs. 8,00,000)

b. Guarantees/Letter of Credit issued on behalf of Company by Banks - Rs. 2,55,44,251/- (Rs. 2,27,73,781/-) and Corporate guarantee given to banks for credit facilities availed by subsidiary company - Rs. 2,50,00,000/- (Rs. 2,50,00,000/-)

c. Appeals filed in respect of disputed demands :

2014-15 2013-14

Excise Duty 61,62,430 61,62,430

E S I 3,96,545 3,96,545

Service Tax 2,23,52,480 2,31,22,929

Income Tax 1,21,36,664 1,21,36,664

Includes Rs. 51,04,396/- paid under protest.

d. Lease Rent in respect of lease hold land has been revised by the Government of Tamil Nadu with retrospective effect from November 2001 and the arrears on this account up to 31st March 2015 is Rs. 7,01,39,899/-. The company has contested the said revision before the Madras High Court in a writ petition. The company has made provision of Rs. 8,50,600 towards the above.

e. Claims against the company not acknowledged as debts : Rs. 2,68,85,143/- (Rs. 1,88,31,161/-)

f. Balances with excise authorities include a sum of Rs. 79,45,555/- being input credit taken on services which is yet to be adjusted in payment of excise duty in view of decision pending with concerned authorities on this matter in earlier years

3. Estimated amount of capital expenditure commitments Rs. 5,00,00,000/- ( Rs. 5,00,00,000)

4. a. The Company has transferred Rs. 3,28,148/- (Rs. 3,52,691/-) of unclaimed dividend to Investor Education and Protection Fund during the year.

b. Unclaimed Dividend amounting to Rs. 22,785 (Rs. 27,034/-) is pending on account on litigation among claimants.

5. The company has spent Rs. 17,00,000 towards CSR expenditure for such activities specified in Schedule VII of Companies Act,2013.Since the company is in the process of identifying further projects for CSR, amount of Rs. 9,58,557 remains unspent for the financial year.

6. Related Party Disclosures

(i) List of related parties and relationships :

a) Parties where control exists - Nil

b) Key Management Personnel :

Sri S. Sambhu Prasad, Chairman & Managing Director

7. The amount due from Amrutanjan Pharmaessense Private Limited, a wholly owned subsidiary company includes Rs. 15,38,66,291/- representing the net value of relevant assets and liabilities transferred on 16th May 2011. In the opinion of the management, the said amount will be realized over a period of time taking into account the business opportunities of the said company.

8. The Company's significant leasing arrangements are in respect of operation leases for premises. These leasing arrangements are not non-cancellable and are usually renewable by mutual consent on mutually agreeable terms. The aggregate lease rentals payable are charged as Rent in the profit and loss account. (refer note .27)

The company has also given certain land and building on operating lease. The rental income on such lease is included in rental receipt (refer note. 22)

9. Previous Year Figures

Previous year figures have been regrouped wherever necessary to comply with current year's classification.


Mar 31, 2014

BACKGROUND

Amrutanjan Health Care Limited was established in the year 1893 and specializing in Ayurvedic balm for headaches, cold / cough and beverage under the brand name of ''Fruitnik'' . The Company is a public limited company and is listed on the Madras Stock Exchange.

1. a. The Company has transferred 3,52,691/- (Rs. 1,51,901/-) of unclaimed dividend to Investor Education and Protection Fund during the year.

b. Unclaimed Dividend amounting to Rs. 27,034/- (Rs. 19,677/-) is pending on account on litigation among claimants.

2. Sundry Deposits represent Fixed Deposit with Dewan Housing Finance Corporation Limited renewed during the year.

3. The amount due from Amrutanjan Pharmaessense Private Limited, a wholly owned subsidiary company includes Rs. 15,38,66,291/- representing the net value of relevant assets and liabilities transferred on 16th May 2011. In the opinion of the management, the said amount will be realized over a period of time taking into account the business opportunities of the said company.

4. The Company'' s significant leasing arrangements are in respect of operates leases for premises. These leasing arrangements are not non-cancellable and are usually renewable by mutual consent on mutually agreeable terms. The aggregate lease rentals payable are charged as Rent in the profit and loss account.

The company has also given certain land and building on operating lease. The rental income on such lease is included in rental receipt.

5. Previous Year Figures

Previous year figures have been regrouped wherever necessary to comply with current year s classification.


Mar 31, 2013

1. BACKGROUND

Amrutanjan Health Care Limited was established in the year 1893 specializing in Ayurvedic balm for headaches, cold & cough and made a foray into Beverage division under the brand name of ''Fruitnik''. The Company is a public limited company and is listed on the Madras Stock Exchange and the National Stock Exchange (NSE).

2. Monies for which the company is contingently liable:

a. Bonds executed in favour of Collector of Central Excise, Chennai- Rs. 8,00,000/- (Rs. 8,00,000)

b. Guarantees/LetterofCreditissuedonbehalfofCompanybyBanks- Rs.2,07,39,605/- (Rs.2,11,19,251/-)

c. Contingent Liability in respect of Income Tax Rs. 20,43,194/- (Rs. 20,43,194/-). However, the said amount has been paid under protest.

e. Lease Rent in respect of lease hold land has been revised by the Government of Tamil Nadu with retrospective effect from November 2001 and the arrears on this account up to 31st March 2013 isRs. 5,64,71,594/-. The company has contested the said revision before the Madras High Court in a writ petition and pending resolution of the proceedings, it is not practicable either to estimate the liability nor the timing of the cash outflows.

f. Claims against the company not acknowledged as debts: Rs. 1,88,31,161/- (Rs.. 1,88,31,161/-)

3. Estimated amount of capital expenditure commitments Rs. 3,00,00,000/- (Rs. 3,00,00,000)

4. a. The Company has transferred Rs. 1,51,901/- (Rs. 1,87,787/-) of unclaimed dividend to Investor Education and Protection Fund during the year.

b. Unclaimed Dividend amounting to Rs. 19,6771- (Rs. 15,689/-) is pending on account on litigation among claimants.

5. Sundry Deposits represent Fixed Deposit with Dewan Housing Finance Corporation Limited renewed during the year.

6. Siva''s Soft Drink Private Limited (transferor company) manufacturers of fruit juices has been amalgamated with Amrutanjan Health Care Limited (transferee company) manufacturers of pain balm products, with effect from 1 st April, 2011 in terms of the scheme of the amalgamation sanctioned by the High Court Of Judicature at Madras as per the order dated 29.01.2013.

The amalgamation has been accounted for under the "pooling of interest" method as prescribed by AS 14 notified under section 211 (3C) of the Companies Act 1956. Accordingly the assets and liabilities of Siva''s Soft Drink Private Limited as at April 1,2011 ,has been taken over at their book values. The balance lying in the statement of profit and loss has been transferred to the surplus in the statement of profit and loss account of the company.

Since the subsidiary company, amalgamated as aforesaid was wholly owned by the company, no shares were exchanged to effect the amalgamation.

The difference between the amount recorded as investments of the Company and the amount of share capital of Siva''s Soft Drink Private Limited has been adjusted in the General Reserve.

7. Related Party Disclosures

(i) List of related parties and relationships :

a) Parties where control exists - subsidiaries Amrutanjan Pharmaessense Private Limited

b) Key Management Personnel:

Sri S. Sambhu Prasad, Chairman & Managing Director

c) Relative to Key Management Personnel:

Mrs. Rajeswari ,S-Mother

8. The amount due from Amrutanjan Pharmaessense Private Limited, a wholly owned subsidiary company includes X 15,38,66,291 /- representing the net value of relevant assets and liabilities transferred on 16th May 2011. In the opinion of the management, the said amount will be realized over a period of time taking into account the business opportunities of the said company.

9. The Company''s significant leasing arrangements are in respect of operation leases for premises. These leasing arrangements are not non-cancellable and are usually renewable by mutual consent on mutually agreeable terms. The aggregate lease rentals payable are charged as Rent in the profit and loss account, (refer note .29)

The company has also given certain land and building on operating lease. The rental income on such lease is included in rental receipt (refer note. 24)

10. Previous Year Figures

Previous year figures have been regrouped wherever necessary to comply with current year''s classification.


Mar 31, 2012

1. BACKGROUND

Amrutanjan Health Care Limited was established in the year 1893, specializing in Ayurvedic balm for headaches, cold and cough. The Company is a Public Limited Company and is listed on the Madras Stock Exchange.

Terms/ Rights I restrictions attached to shares:

The Company has only one type of equity shares. Every shareholder is entitled to one vote per share.

Buy Back of Shares:

The Company bought back 1,06,937 fully paid up equity shares of Rs. 10/- each, at a price of Rs. 900/- per share payable in cash, for an aggregate amount not exceeding ofRs. 9,62,43,300 from the open market through tender offer method.

Term Loan referred above to the extent of: -

a) Rs. 4,50,00,000 (Rs. 3,34,20,800) repayable in ten equal half yearly installments with interest @ 11.50%. The repayment will be complete in February, 2016.

b) Rs. 1,46,44,250 (nil) repayable in ten equal half yearly installments with interest @ 11.80%. The repayment will be complete in February, 2016.

Term Loans are secured by way of hypothecation of specific plant & machinery, specific investments in mutual funds and current assets of the company, both present and future, ranking pari passu.

* represents investments I advances in Data Quest Infotech & Enterprises Ltd written off, since the said company has been struck off u/s 560 (5) of Companies Act, 1956 during the year

2. Monies for which the company is contingently liable :

a. Bonds executed in favour of Collector of Central Excise, Chennai - Rs. 8,00,000/- (Rs. 8,00,000)

b. Guarantees/Letter of Credit issued on behalf of Company by Banks 2,11,19,251/- (Rs. 2,25,34,291/-)

c. Contingent Liability in respect of Income Tax Rs. 20,43,194/- (Rs. 20,43,194/-). However, the said amount has been paid under protest.

e. Lease Rent in respect of iease hold land has been revised by the Government of Tamil Nadu with retrospective effect from November 2001 and the arrears on this account up to 31st March 2012 is Rs. 5,04,32,834/-. The company has contested the said revision before the Madras High Court in a writ petition and pending resolution of the proceedings, it is not practicable either to estimate the liability nor the timing of the cash outflows.

f. Claims against the Company not acknowledged as debts : Rs. 1,88,31,161/- (1,33,03,607/-)

3. Estimated amount of capital expenditure commitments Rs. 3,00,00,000/- (Rs. 4,00,00,000)

4. (a) The Company has transferred Rs.1,87,787/- (Rs. 2,55,014/-) of unclaimed dividend to Investor Education and Protection Fund during the year.

(b) Unclaimed Dividend amounting to Rs. 15,689 (Rs. 9,549/-) is pending on account on litigation among claimants.

5. Siva's Soft Drink Private Limited, a wholly owned subsidiary of the Company has on 25th April, 2012 filed an application for amalgamation with the Company with the Hon'ble High Court of Madras. The Scheme shall be given effect to in the Book with effect from the Appointed Date of 1st April, 2011, upon the receipt of the necessary approvals.

6. Related Party Disclosures

i) List of related parties and relationships :

a) Parties where control exists - subsidiaries

Holistic Beauty Care Limited

Siva's Soft Drink Pvt Ltd

Amrutanjan Pharmaessense Private Limited

b) Key Management Personnel:

Sri S. Sambhu Prasad, Chairman & Managing Director

c) Relative to Key Management Personnel:

Mrs. Rajeswari S - Mother

7. The Company has transferred the relevant assets and liabilities of the Pharmaessense Chemistry Services Division at the book values (as per the resolution passed by the shareholders vide postal ballot on 23rd Mar 2011) to Amrutanjan Pharmaessense Private Ltd (APPL), a wholly owned subsidiary company with effect from 16th May 2011. The net amount aggregating to Rs. 15,38,66,291/- after adjustment ofRs. 5,00,000/- in the form of investment in shares in APPL is due to the company as on 31st March 2012. In the opinion of the management, the said amount will be realized over a period of time taking into account the business opportunities of the said company. The financial results of the said division after the effective date do not form part of the financial results for the year ended 31st March 2012 and hence not comparable with the financial results for the year ended 31st March 2011.

8. Amount of Rs. 1,46,84,032/- (including Rs. 1,25,00,000 transferred from contingency reserve) has been provided for the value of investments / advances in Holistic Beauty Care Ltd., since the said company has discontinued the business operations.

9. The Company's significant leasing arrangements are in respect of operation leases for premises. These leasing arrangements are not non-cancellable and are usualiy renewable by mutual consent on mutually agreeable terms. The aggregate lease rentals payable are charged as Rent in the profit and loss account, (refer note 29)

The company has also given certain land and building on operating lease. The rental income on such lease is included in rental receipt (refer note. 24)

b) Gratuity is administered through Group gratuity scheme with Life Insurance Corporation of India. The expected return on plan assets is based on market expectation at the beginning of the year, for the returns over the entire life of the related obligation

Leave Salary

The defined benefit obligations which are provided for but not funded as on 31-3-2012 is Rs. 50,46,278/- (Rs. 26,13,715)

10. Previous Year Figures

The financial statements for the year ended March 31,2011 had been prepared as per the then applicable, pre-revised Schedule VI to the Companies Act, 1956. Consequent to the notification of Revised Schedule VI under the Companies Act, 1956, the financial statements for the year ended March 31,2012 are prepared as per Revised Schedule VI. Accordingly, the previous year figures have also been reclassified to confirm to this year's classification. The adoption of Revised Schedule VI for previous year figures does not impact recognition and measurement principles followed for preparation of financial statements.


Mar 31, 2011

1 Monies for which the company is contingently liable:

a Bonds executed in favour of Collector of Central Excise, Chennai - Rs.8,00,000/- ( Rs.8,00,000 /-)

b Guarantees/Letter of Credit issued on behalf of the Company by Banks -Rs. 2,25,34,291/- (Rs. 1,18,25,000/-)

c Contingent liability in respect of Income Tax Rs. 20,43,194/- (Rs. 20,43,194/-). However, the said amount has been paid under protest.

e Claims against the company not acknowledged as debts - Rs.1,33,03,607/- (nil)

2 Lease rent in respect of leasehold land has been revised by the Government of Tamilnadu with retrospective effect from November 2001 and the arrears on this account upto 31st March 2011 is Rs. 3,72,31,466. Since the enhancement of the rent is exhorbitant, the Company has contested the said revision before the appropriate forum. The matter is also pending before The Madras High Court in a writ petition. Based on the legal advice, the Company is hopeful of a favourable decision and hence no provision for the said liability is considered.

3 Estimated amount of capital expenditure commitments Rs. 4,00,00,000/- (Rs. 9,79,00,000/-)

4 Sundry Deposits represent Fixed Deposit with Shriram Transport Finance Company Limited and Dewan Housing Finance Corporation Limited made during the year for a period of 12 months.

5 a The Company has transferred Rs. 2,55,014 /- (Rs.83,034/-) of unclaimed dividends to Investor Education and Protection Fund during the year.

b Unclaimed Dividend amounting to Rs.9,549/- (Rs.9,549/-) is pending on account on litigation among claimants.

6 The Company has made investments and granted advances to Holistic Beauty Care Limited aggregating to Rs.1,46,29,026/-.

The Company has incurred significant setup cost leading to losses and exploring new business alternatives. However, as a matter of prudence contingency reserve of Rs. 1,25,00,000/- has been created for any possible erosion in the value of investments / advances.

7 Provision for Taxation includes Rs.50,000 (Rs. 50,000/-) towards Wealth Tax.

8. Segment Information

The Company has disclosed business segment as the primary segment and is organised in to two main business segments namely OTC products and Chemicals

The Company caters mainly to the needs of the domestic market and as such there are no reportable geographical segments. Segment Revenue, Segment Results, Segment Assets and Segment Liabilities include the respective amounts identifiable to each of the segments as also amounts allocated on a reasonable basis. Other unallocable expenditure includes revenues and expenses which are not directly identifiable to the individual segments as well as expenses which relate to the Company as a whole.

9 Disclosure of Related Parties

(I) List of related parties and relationships:

a) Parties where control exists - Subsidiaries : Data Quest Infotech and Enterprises Limited

Holistic Beauty Care Limited

Siva's Soft Drink Pvt Ltd

b) Key Management Personnel : Sri. S.Sambhu Prasad, Managing Director

(c) Relatives of Key Management Personnel : Mrs. Rajeswari.S-Mother

10 The company has made investment in 100% of Equity Shares in Siva's Soft Drink Private Limited in February - 2011 for a consideration of Rs.25,70,00,000/-, out of which amount of Rs.96,20,000/-payable as on 31st March 2011 to the erstwhile share holders is included under Other Liabilities in Schedule -11.

11 Employee Benefits

b Gratuity is administered through Group gratuity scheme with Life Insurance Corporation of India. The expected return on plan assets is based on market expectation at the beginning of the year, for the returns over the entire life of the related obligation

Leave Salary

The defined benefit obligations which are provided for but not funded as on 31-3-2011 is Rs. 26,13,715/- (Rs. 27,68,901/-)

12 Previous year's figures have been regrouped wherever necessary to comply with current year's classification.


Mar 31, 2010

1. MONIES FOR WHICH THE COMPANY IS CONTINGENTLY LIABLE :

a. Bonds executed in favour of Collector of Central Excise, Chennai-Rs.8,00,000/- (Rs.8,00,000/-)

b. Guarantees/Letter of Credit issued on behalf of the Company by Banks - Rs.1,18,25,000/- (Rs.1,55,00,146/-)

c. Contingent liability in respect of Income Tax Rs.20,43,194/- (Rs.16,04,113/-). However, the said amount has been paid under protest.

2. Lease rent in respect of leasehold land has been revised by the Government of Tamil Nadu with restrospective effect from November, 2001 and the arrears on this account upto 31st March, 2010 is Rs.3,32,77,682/- Since the enhancement of the rent is exhorbitant, the Company has contested the said revision before the appropriate forum. The matter is also pending before The Madras High Court in a writ petition. Based on the legal advice, the Company is hopeful of a favourable decision and hence no provision for the said liability is considered in this year.

3. Estimated amount of capital expenditure commitments Rs.9,79,00,000/- (Rs.6,35,00,000/-)

4. Amount of Rs.22,55,236/- (Rs.32,87,971/-) has been provided for advances given to subsidiary companies since the said companies are not continuing the business operations.

5. a. The Company has transferred Rs.83,034/- (Rs. 1,30,579/-) of unclaimed dividends and Rs.nil /- (Rs.48,000/-) of unclaimed matured deposits to Investor Education and Protection Fund during the year.

b. Unclaimed Dividend amounting to Rs.0.09 lakhs (31.03.2009 Rs.0.11 lakhs) is pending on account on litigation among claimants.

Notes : Loans and Advances in the nature of loans shown above are without any repayment schedule.

6. The company has made investments and granted advances to Holistic Beauty Care Limited aggregating to Rs.1,15,01,838/- The business activities of the said company are in a development phase only and has incurred significant setup cost leading to losses. Though the future business plans are hopeful, as a matter prudence, contingency reserve of Rs.100 lakhs has been created for any possible erosion in the value of investments / advances.

7. Provision for Taxation includes Rs.50,000/- (Rs.50,000/-) towards Wealth Tax.

8. Disclosure of Related Parties

(I) List of related parties and relationships :

(a) Parties where control exists - Subsidiaries : Data Quest Infotech and Enterprises Limited

Holistic Beauty Care Limited

(b) Key Management Personnel : Mr. S. Sambhu Prasad, Managing Director

(c) Relatives of Key Management Personnel: Mrs. S. Rajeswari - Mother

9. During the year the Company has bought back 71,660 Equity shares of Rs.10/- each at an average price of Rs.405.19 and accordingly.

(a) An amount of Rs.7,16,600/- has been reduced from the paid-up equity share capital.

(b) The balance of Rs.395.19 per share paid on these shares aggregating to Rs.283.19 lakhs has been adjusted to General Reserve.

(c) As required under the provisions of the Companies Act, 1956 Rs.7,16,600/- has been transferred to Capital Redemption Reserve from General Reserve.

The buy back of equity shares was completed on 3rd April, 2009.









 
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