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Notes to Accounts of Anjani Portland Cement Ltd.

Mar 31, 2015

1. The company has only one class of equity shares having face value of Rs. 10 each. Each shareholder of Equity share is entitled to one vote per share. The company declares and pays dividends in Indian Rupees.

In the event of liquidation of the company, the equity shareholders will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Consequent to the enactment of the Companies Act, 2013 , the company has charged depreciation based on the useful life of the assets as prescribed in Schedule II of the companies Act 2013. Accordingly, where the remaining uselful life of the assets expired as on 1st April, 2014 the carrying amount of those assets of Rs. 64.51 lakhs has been adjusted against the opening retained earnings net of deferred tax of Rs. 19.93 lakhs.

3.1. Term loan from banks represent Loan from HDFC Bank Limited Secured by a First Pari Passu charge on all Movable Fixed Assets and Corporate Guarantee of Chettinad Cement Corporation Limited.

3.2 Unsecured Loans From others represents deposits from dealers.

4. Related Party Disclosure :

A Relationship

a) Holding Company

Chettinad Cement Corporation Limited (From 16-05-2014)

b) Key Management Personnel

i) Geetha Muthiah, Managing Director (From 04-06-2014 to 20-12- 2014)

ii) A.Subramanian, Managing Director (From 19-01- 2015)

iii) K.V Vishnu Raju, Managing Director (Up to 04-06-2014)

iv) P.VR.L.Narsimha Raju, Executive Director ((Up to 04-06-2014)

c) Relatives of Key Management Personnel

i) M.A.M.R.Muthiah (Husband of Geetha Muthiah)

ii) K. Ramavathy (Mother of K.V.Vishnu Raju)

iii) K.S.N.Raju (Father of K.V.Vishnu Raju)

d) Enterprises owned or significantly influenced by Key Management Personnel (KMP)

1 Chettinad Holdings Private Limited

2 Chettinad Logistics Privates Limited

3 South India Corporation Private Limited

4 Sai Aditya foods & Retail Pvt Ltd

5 Anjani Cement (Karnatak) Ltd

6 Raasi Enterprises Ltd

7 Vennar Ceramics Ltd

8 Hitech Print Systems Limited

9 Sri Vishnu Educational Society

10 Anjani Projects & Constructions Ltd (From 1st Apr to 10th Nov 2014)

11 Anjani Vishnu Holdings Limited (Name was changed from Anjani Projects & Constructions Ltd on 11th Nov 2014)

12 Padmashri B.V Raju Institute of Technology

13 South India Corporation (Travancore) Pvt Ltd

14 Chettinad Structural and Engineering Ltd.

15 Chettinad Lignite Transport Services Pvt Ltd

16 Chettinad Software Services (P) Ltd

17 Chettinad Realtors (P) Ltd

18 Chennai Computer And Software Services (P) Ltd

19 Chettinad Inland Water Transport Services (P) Ltd

20 Chettinad Educational Institutions

21 Chettinad Morimura Semiconductor Material (P) Ltd

5. Contingent Liabilities and Commitments

5.1 Contingent Liabilities

Rs. in Lakhs

Particulars For the period For the period ended ended 31st March 2015 31st March 2014

Claims against the Company not acknowledged as debt:

Disputed Liability in respect of Income Tax Demands 295.35 295.35

Disputed Liability in respect of CENVAT Credit 180.32 180.32

Disputed Liability in respect of FSA charges and Penal Charges to 239.46 450.11

APCPDCL

Disputed Liability in respect of Customs relating to Coal 130.46 9.16

Disputed Liability in respect of Service Tax 3.36 3.36

Corporate Guarantee given to erstwhile Subsidiary and Associate - 4,448.00

Companies

5.2 Commitments

Rs. in Lakhs

Particulars For the period For the period ended 31st March ended 31st March 2015 2014

Estimated amount of contracts remaining to be executed on account 282.36 387.32 of capital and not provided for

6. The company operates in single business segment of Cement only,hence segment reporting is not applicable as per AS 17.

7. We have recorded all known liabilities in the financial statements. The Company has not received any intimations from 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 or payable as required under the said Act have not been given.

Section 135(5) of the Companies Act 2013 stipulates that the company needs to spend two per cent of the average net profits made during the three immediately preceding financial years in pursuance of it Corporate Social Responsibility Policy.

The Company has incurred an average net loss for the past 3 years and hence is not required to spend on CSR activities for the Current Financial Year 2014-15.

8. Previous year figures have been reclassified /regrouped and rearranged wherever necessary.


Mar 31, 2014

1. Term loans are secured by a first/joint equitable mortgage by deposit of title deeds, with State Bank of India, leader of consortium bankers, of all the Company''s immovable properties, both present and future and hypothecation of all movable assets (other than book debts) ranking pari-passu with the charges created in favour of the Consortium Bankers, State Bank of India, Punjab National Bank, Indian Overseas Bank, and State Bank of Hyderabad. The term loans are further secured by the personal guarantee of Chairman and Managing Director and Executive Director

Note 2.: Cash Credit facility with consortium Banks is secured by hypothecation of stocks of raw materials, stock in progress, finished goods, spares and book debts and second charge on Fixed Assets and personal guarantee of Chairman & Managing Director and Executive Director.

Note 3. : Out of the said amount Rs. NIL (Previous year Rs. NIL) pertains to Micro, Small and Medium enterprises as defined under Micro, Small and Medium Enterprises Developments Act, 2006 based on the information available with the company.

Note :* Represents the advances/deposits from share holders, friends, relatives and others which are renewed year after year.

** There are no amounts due to be remitted to Investor Education and Protection Fund out of these amounts.

4: Include assets held for sale shown under ''other current assets'' (Refer note 12): Gross Block Rs. 414.50 Lakhs, Accumulated depreciation Rs. 43.83 Lakhs and Net block Rs. 370.67 lakhs.

* Earmarked balances represents unclaimed Dividend

** Represents margin money deposits against BG''s & LC''s

Note 5. : There is an increase in consumption of stores and spares when compared to previous year on account of Repairs and maintenance of Old Plant and Machinery.

Note 6. : There is an increase in cost of power and fuel, due in increase in tariff rate and Fuel Surcharge levied by APCPDCL.

Note 7. : Impairment of asset relates to old DG set which is out dated and not in a usable condition and held for sale (Ref Note No 12).

Note 8. : Obsolete stores and spares written off relates to assets impaired and held for sale.

Note 9 : Contingent Liabilities and Commitments

(1) Contingent Liabilities

Rs. in Lakhs

Particulars 31st March 2014 31st March 2013 Claims against the Company not acknowledged as debt:

Disputed Liability in respect of Tax demands Nil 83.02

Disputed Liability in respect of CENVAT Credit 180.32 180.32

Disputed Liability in respect of FSA charges payable to APCPDCL 43.50 43.50

Disputed Demand charges payable to AP Transco 25.39 25.39

Disputed Penal charges payable to AP Transco 381.22 Nil

Disputed Liability in respect of Customs relating to Coal 9.16 Nil

Corporate Guarantee given to erstwhile Subsidiary and Associate 4448.00 3486.37 Companies

(2) Commitments Estimated amount of contracts remaining to be executed on capital 387.32 250.31

account and not provided for

Note 10

The company operates in single business segment of Cement only, hence segment reporting is not applicable as per AS 17.

Note 11

We have recorded all known liabilities in the financial statements. The Company has not received any intimations from 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 or payable as required under the said Act have not been given.

Note 12

Previous year figures have been reclassified /regrouped and rearranged wherever necessary.


Mar 31, 2013

Note 1.1 : Cash Credit Facilities represents loans from Consortium Bankers, State Bank of India, Punjab National Bank, Indian Overseas Bank, and State Bank of Hyderabad. Cash Credit Facilities is seucred by pari passu charge on entire current assets of the company. The above loans are further secured by pledge of shares of chairman and managing director and wife of chairman and managing director and personal guarantee of Chairman and Managing Director and Executive Director. All the above securities will be on pari passu with all the consortium bankers.

Note 2.1 : Out of the said amount X Nil (Previous year X Nil) pertains to Micro, Small and Medium enterprises as defined under Micro, Small and Medium Enterprises Developmenent Act, 2006 based on the information available with the company as on date.

Note 3 : Related Party Disclosure

A. Relationship

a. Subsidiary Company

i. Hitech Print Systems Limited

b. Associate Company

i. Vennar Ceramics Limited (ceased to a subsidiary w.e.f Is''April 201 2)

c. Key Management Personnel

i. Mr. K VVishnu Ra|u

ii. Mr. PVRL Narsimha Raju

d. Relatives of Key Management Personnel i. Smt, K Ramavathy

ii. Mr. KSN Raju

e. Enterprises owned or significantly influenced by Key Management Personnel i. Sai Aditya foods & Retail Pvt Ltd

ii. Anjani Projects & Constructions Ltd iii. Mr.Vishnu Educational Society iv. Anjani Cement (Karnatak) Ltd v. Raasi Entrerprises Ltd

Note 4

The company operates in single business segment of Cement only, hence segment reporting is not applicable as per AS 1 7.

Note 5

We have recorded all known liabilities in the financial statements. The Company has not received any intimations from suppliers regarding their status under the micro, small and medium enterprises development act, 2006 and hence disclosures, if any relating to amounts unpaid as ot the year ena together with interest paid or payable as required under the said Act have not been given.

Note. 6

Previous year figures have been reclassified /regrouped and rearranged wherever necessary.


Mar 31, 2012

1.1. Term loans are secured by a first/joint equitable mortgage by deposit of title deeds, with State Bank of India, leader of consortium bankers, of all the Company's immovable properties, both present and future and hypothecation of all movable assets (other than book debts) ranking pari-passu with the charges created in favour of the Consortium Bankers, State Bank of India, Punjab National Bank, Indian Overseas Bank, and State Bank of Hyderabad. The term loans are further secured by the personal guarantee of Chairman and Managing Director and Executive Director.

Note 2 : The company has no reportable segments under AS - 17

Note 3 : We have recorded all known liabilities in the financial statements. The Company has not received any intimations from 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 or payable as required under the said Act have not been given.

Note 4 : The company has made relevant disclosures which are applicable as per revised schedule VI and the figures for the previous year are reclassified / regrouped and rearranged wherever necessary.


Mar 31, 2011

1. Secured Loans

a. Term Loans

Term loans are secured by a first/joint equitable mortgage by deposit of title deeds, with State Bank of India, leader of consortium bankers, of all the Company's immovable properties, both present and future and hypothecation of all movable assets (other than book debts) ranking pari-passu with the charges created in favour of the Consortium Bankers, State Bank of India, Punjab National Bank, Indian Overseas Bank, and State Bank of Hyderabad.

The term loans are further secured by the personal guarantee of Chairman and Managing Director and Executive Director.

b. Working Capital

Cash Credit facility with consortium Banks is secured by hypothecation of stocks of raw materials, stock in process, finished goods, spares and book debts and second charge on Fixed Assets and personal guarantee of Chairman & Managing Director and Executive Director.

2. Loans and Advances include an amount of Rs. 403.50 Lakhs given to Vennar Ceramics Limited, which is a 100% subsidiary company.

3. Outstanding dues of Micro enterprises and Small enterprises.

Information as per Notification No. GSR 719 (E) & as per "The Micro, Small and Medium Enterprises Development Act, 2006 (MSMED)"

4. The balances of sundry creditors, sundry debtors, unsecured loans and loans and advances are subject to confirmation and reconciliation.

5. Segment Reporting

The Company has no reportable segments under AS-17

6. Contingent Liabilities not provided for in respect of Claims against the Company not acknowledged as debt

Rs. in Lakhs

Particulars 2010-11 2009-10

Disputed Liability in respect of Tax demands 95.43 Nil

Disputed Liability in respect of FSA charges payable to APCPDCL 43.50 Nil

Disputed Demand charges payable to AP Transco 25.29 25.29

Total 165.22 25.29

7. Industrial incentives

During the year the company has accounted Rs. 863.82 Lakhs as claim for industrial incentive in accordance with policy under Industrial Incentive Promotion Policy of Govt. Andhra Pradesh on account of power and sales tax, on accrual basis. Hitherto the same was recognized based on the admission of claim by respective departments.

8. Defined benefit plans

As per actuarial valuation as on March 31, 2011 and recognized in the financial statements in respect of employee benefit schemes.

9. Related Party Disclosures

a. Relationship

- Subsidiary Companies

Vennar Ceramics Limited Hitech Print Systems Limited

Key Management Personnel

- Sri. K V Vishnu Raju

- Sri. PVRL Narsimha Raju

Relatives of Key Management Personnel

Smt. K Ramavathy

- Sri. KSN Raju

- Enterprises owned or significantly influenced by Key Management Personnel

- Sai Aditya foods & Retail Pvt Ltd Anjani Projects & Constructions Ltd Sri Vishnu Educational Society

Previous year figures have been regrouped wherever necessary to conform to this year groupings/classification.

The Schedules referred to above form an integral part of the Balance Sheet As per our report of even date attached


Mar 31, 2010

1. Secured Loans a )Term Loans:

Term loans are secured by a first/joint equitable mortgage by deposit of title deeds, with State Bank of India, leader of consortium bankers, of all the Companys immovable properties, both present and future and hypothecation of all movable assets (other than book debts) ranking pari-passu with the charges created in favour of the Consortium Bankers, State Bank of India, Punjab National Bank, Indian Overseas Bank and State Bank of Hyderabad.

The term loans are further secured by the personal guarantee of Chairman and Managing Director and the Excutive Director.

b) Working Capital:

Cash Credit facility with consortium Banks is secured by hypothecation of stocks of raw materials, stock in process, finished goods, spares and book debts and second charge on Fixed Assets and personal guarantee of Chairman and Managing Director and the Excutive Director.

2. Loans and Advances include an amount of Rs.363.27 Lakhs given to Vennar Ceramics Limited, which is its 100% subsidiary company.

3. The balances of sundry creditors, sundry debtors, unsecured loans and loans and advances are subject to confirmation and reconciliation.

4. Segment Reporting:

The Company has no reportable segments under AS-17

5. Contingent Liabilities: 2009-10 2008-09

Rs in Lacs Rs in Lacs

a) Bank Guarantees 122.00 150.00

b) The Company has disputed a demand of Rs 92.93 Lakhs originally raised by M/s AP Transco Ltd on account of minimum demand charges claimed by them during the period 16.4.1997 to 15.12.1999. Subse- quently they have revised the claim as per court order and demanded Rs 55.29 Lakhs after adjusting Rs 15.65 Lakhs which was paid under protest. The Honorable High Court has granted absolute stay subject to payment of Rs 30 Lakhs and the same was paid accordingly. In the opinion of the management of the company the demand is not justified. Accordingly the provision for the entire claim has not been made pending disposal of the case.

c) The company had availed input credit amounting to Rs 20.00 Lacs on coal purchases from 01-04-2005 to 31-12-2005. The AP Government vide GO no MS 2201 Ref CT II dept dt 29-12-2005 made input tax on coal purchase ineligible w.e.f 01-04-2005 and raised a demand for Rs 20.00 Lacs. The Company has appealed against the GO in Honourable High Court and paid 50% of disputed tax i.e 10.00 Lacs for admission of appeal.

6. Related Party Disclosures: A) Relationship

i) Subsidiary Companies

Vennar Ceramics Limited Hitech Print Systems Limited

ii) Key Management Personnel

Sri. K.V. Vishnu Raju, Sri P.V.R.L.Narasimha Raju

iii) Relatives of Key Management Personnel

Smt. K. Ramavathy, Sri. K.S.N.Raju

iv) Enterprises owned or significantly influenced by Key Management Personnel

Sai Aditya Foods & Retail Pvt. Ltd., Anjani Projects & Construction Ltd., Sri Vishnu Educational Society.

 
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