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Notes to Accounts of APM Industries Ltd.

Mar 31, 2015

1. Rights to the Share Holders

The Company has only one class of equity shares having a face value of Rs. 2 per share and each holder of equity shares is entitled to one vote per share. All equity Share holders are having right to get dividend in proportion to paid up value of the each equity share, as and when declared.

2. Nature of Security

a. Following Term Loans are secured by joint mortgage by deposit of title deeds of the Company's immovable properties situated at Bhiwadi and charge on all immovable and movable assets, both present and future subject to prior charge created on specified movable assets in favour of Company's bankers ranking pari-passu for working capital facilities:

Loan From Terms of Repayment

i.Industrial Development Bank of India (Rs. 560 Lacs)

Term Loans from Banks amounting to Rs 2,91,15,630/- Repayable in 32 from quarterly instalments October 2011 along (March 31, 2014 Rs. 3,49,15,630) with interest at the rate of 13.25% p.a.

ii. Punjab National Bank (Rs. 163 Lacs)

Term Loans from Banks amounting to Repayable in 20 quarterly Rs. 96,30,803/- instalments from June 2014 (March 31, 2014 Rs. 1,29,36,510) along with interest at the rate of 12.00% p.a.

iii. State Bank of Bikaner & Jaipur (Rs. 1710 Lacs)

Term Loans from Banks amounting to Rs. 2,96,10,274/- Repayable in 32 quarterly (March 31, 2014 Rs. 5,33,69,740) instalments from July 2008 along with interest at the rate of 12.85% p.a.

iv. State Bank of Bikaner & Jaipur (Rs. 230 Lacs)

Term Loans from Banks amounting to Rs. 33,46,764/- Repayable in 32 quarterly (March 31, 2014 Rs. 66,65,068) instalments from May 2009 along with interest at the rate of 13.60% p.a.

b. Vehicle loans from Banks amounting to Rs 21,24,938/- Repayable in 36 equalised (March 31, 2014 Rs. 34,72,519/-) monthly instalments are secured by hypothecation/ Lien of the respective vehicles.

3. Secured long term loans aggregating to Rs 7,17,03,471/- (March 31, 2014 Rs. 107,886,948/-) are guaranteed by the chairman and Managing Director.

4. The Long Term borrowing shown above is net of Rs. 3,76,17,666/- (Mar 31, 2014 Rs.38,411,798) current maturities, which is shown under note no. 7

5. Working capital loans are secured by hypothecation of inventories, book debts, receivables and other movable assets and also by second charge on Company's immovable properties situated at Bhiwadi ranking pari-passu between the Banks/ Financial Institutions and guaranteed by Chairman & Managing Director of the Company.

6. There are no amounts due for payment to The Investor Education and protection Fund as at the year end.

7. Related party disclosures

Information regarding Related Party Transactions as Accounting Standards AS-18 "Related Party Disclosures" notified by Companies (Accounting Standards) Rules, 2006, (as amended).

List of related parties

A. Companies under common control Sr. No. Name of the Company

1. Orient Abrasives Limited

2. Orient Refractories Limited

3. Perfectpac Limited

4. Rajgarhia Leasing & Financial Services (P) Limited

5. Arvind Syntex Pvt Ltd

B. Key Management Personnel and their relatives

Sr. No. Name of the Person Relationship

1. R. K. Rajgarhia Chairman and Managing Director

2. H. R. Sharma Executive Director

3. S. G. Rajgarhia Director

4. Ajay Rajgarhia Key Management Person

5. Aditi Rajgarhia Grand Daughter of CMD

6. Prabha Rajgarhia Wife of CMD

D. No amount pertaining to related parties which have been provided for as doubtful debts or written off in respect of related parties.

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

8. Profit/Loss on the sale of raw material is adjusted in the raw material consumed account. However, the amount of profit/loss is not material.

9. Figures of previous year have been regrouped or rearranged wherever found necessary and the same are appearing in brackets.

10. Note 1 to 36 form an integral part of the accounts and have duly been authenticated.


Mar 31, 2014

1.1 Nature of Security

a. Following Term Loans are secured by joint mortgage by deposit of title deeds of the Company''s immovable properties situated at Bhiwadi and charge on all immovable and movable assets,both present and future subject to prior charge created on specified movable assets in favour of Company''s bankers ranking pari-passu for working capital facilities:

2. Contingent liabilities and commitments (to the extent not provided for)

a. Claims against the Company not acknowledged as debts:-_

Particulars Year ended March 31, 2014 March 31, 2013 Rupees Rupees

Excise Duty [Payment made Rs . NIL (Previous years 486,2400 0 888,970

Sales Tax 3,754,178 3,754,178

Bank Guarantee (Net of Margin Rs. NIL (Previous Year 661,000) NIL 1,024,000

b. Other Commitments

Estimated amount of contracts remaining to be executed on capital account [Net of advances Rs. 6,656,402/- Previous Year Rs. 5,761,058/-] not provided for Rs. 33,582,964/- (Previous Year Rs. 38,356,018/-).

3. There are no Micro, Small and Medium Enterprises to whom the company owes dues, which are outstanding for more than 45 days as at March 31, 2014. This information required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006, has been determined to the extent such parties have been identified on the basis of information available with the Company.

4. Related party disclosures

Information regarding Related Party Transactions as Accounting Standards AS-18 "Related Party Disclosures" notified by Companies (Accounting Standards) Rules,2006,(as amended).

List of related parties

A. Companies under common control

Sr. No. Name of the Company

1. Orient Abrasives Limited

2. Orient Refractories Limited

3. Perfectpac Limited

4. Rajgarhia Leasing & Financial Services (P) Limited

B. Key Management Personnel and their relatives

Sr. No. Name of the Person Relationship

1. R. K. Rajgarhia Chairman and Managing Director

2. H. R. Sharma Executive Director

3. S. G. Rajgarhia Director

4. Ajay Rajgarhia Key Management Person

5. Aditi Rajgarhia Grand Daughter of CMD

6. Prabha Rajgarhia Wife of CMD

5. Profit/Loss on the sale of raw material is adjusted in the raw material consumed account. However, the amount of profit/loss is not material.

6. Figures of previous year have been regrouped or rearranged wherever found necessary and the same are appearing in brackets.

7. Note 1 to 35 form an integral part of the accounts and have duly been authenticated.


Mar 31, 2013

1.1 Nature of Security

a. Following Term Loans are secured by joint mortgage by deposit of title deeds of the Company''s immovable properties situated at Bhiwadi and charge on all immovable and movable assets, both present and future subject to prior charge created on specified movable assets in favour of Company''s bankers ranking pari-passu for working capital facilities:

1.2 Secured long term loans aggregating Rs. 165,976,759 (March 31, 2012 Rs. 221,403,961) are guaranteed by the Chairman and Managing Director.

1.3 The Long Term borrowing shown above is net of Rs. 56,685,077 (March 31, 2012 Rs. 57,613,182) current maturities, which is shown under Note no. 8

2.1 Note :

Working capital loans are secured by hypothecation of inventories, book debts, receivables and other movable assets and also by second charge on Company''s immovable properties situated at Bhiwadi ranking pari-passu between the Banks/ Financial Institutions and guaranteed by Chairman & Managing Director of the Company.

3.1 There are no amounts due for payment to The Investor Education and protection Fund under section 205C of the Companies Act,1956 as at the year end.

4. Contingent liabilities and commitments (to the extent not provided for)

a. Claims against the Company not acknowledged as debts:-

Particulars Year ended_ March 31,2013 March 31,2012 (Rs.) (Rs.)

Excise Duty (Payment made Rs. 486,240 (Previous year Rs.486,240)) 888.970 1,208,934

Sales Tax 3,754,178 2,550,809

Bank Guarantee (Net of Margin Rs. 661,000 (Previous Year Nil)) 1,024,000

b. Other Commitments

Estimated amount of contracts remaining to be executed on capital account [Net of advances Rs. 5,761,058/- Previous Year Rs. 5,911,690/-] not provided for Rs. 38,356,018/- (Rs. 35,738,215/-).

5. There are no Micro, Small and Medium Enterprises to whom the company owes dues, which are outstanding for more than 45 days as at March 31, 2013. This information required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006, has been determined to the extent such parties have been identified on the basis of information available with the Company.

6. Related party disclosures

Information regarding Related Party Transactions as per Accounting Standards AS-18 "Related Party Disclosures" notified by Companies

(Accounting Standards) Rules,2006, (as amended).

List of related parties

A. Companies under common control

S. No. Name of the Company

1 Orient Abrasives Limited

2 Orient Refractories Limited

3 Perfectpac Limited

4 Rajgarhia Leasing and Financial Services Private Limited

5 Axis Cottex Private Limited

6 AJR Fiscal Private Limited

7. Profit/Loss on the sale of raw material is adjusted in the raw material consumed account. However, the amount of profit/loss is not material.

8. Figures of previous year have been regrouped or rearranged wherever found necessary and the same are appearing in brackets.

9. Note 1 to 35 forms an integral part of the accounts and have duly been authenticated.


Mar 31, 2012

1.1 Nature of Security

a. Following Term Loans are secured by joint mortgage by deposit of title deeds of the Company's immovable properties situated at Bhiwadi and charge on all immovable and movable assets, both present and future, except book debts subject to prior charge created on specified movable assets in favour of Company's bankers ranking pari-passu for working capital facilities.:

1.2 Secured long term loans aggregating to Rs. 221,403,961/- (March 31,2011 Rs. 272,614,203/-) are guaranteed by the chairman and Managing Director.

2.1 Note :

Working capital loans are secured by hypothecation of inventories, book debts, receivables and other movable assets and also by second charge on Company's immovable properties situated at Bhiwadi ranking pari-passu between the Banks/ Financial Institutions and guaranteed by Chairman & Managing Director of the Company.

3.1 There are no amounts due for payment to The Investor Education and protection Fund under section 205C of the Companies Act,1956 as at the year end.

4. Contingent liabilities and commitments (to the extent not provided for)

a. Claims against the Company not acknowledged as debts;

Particulars Year ended

March 31, 2012 March 31, 2011

Rupees Rupees

Excise-Duty(Payment made Rs. 486,240{Previous year Rs. 486,240}) 1,208,934 806,204

Sales Tax 2,550,809 6,842,285

b. Other Commitments

Estimated amount of contracts remaining to be executed on capital account [Net of advances Rs.5,911,690/-Previous Year Rs.13,008,324/-] not provided for Rs.35,738,215/- (Rs. 35,714,530/-).

5. There are no Micro, Small and Medium Enterprises to whom the company owes dues, which are outstanding for more than 45 days as at March 31, 2012. This information required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006, has been determined to the extent such parties have been identified on the basis of information available with the Company.

6. Related party disclosures

Information regarding Related Party Transactions as per Accounting Standard AS-18 "Related Party Disclosures" notified by Companies (Accounting Standards) Rules, 2006, (as amended).

7 List of related parties

A. Companies under common control

S. No. Name of the Company

1 Orient Abrasives Limited

2 Orient Refractoriness Limited

3 Perfecta Limited

4 Rajgarhia Leasing and Financial Services Private Limited

5 Faridabad Paper Mills Limited

6 Axis Cottex Private Limited

7 AJR Fiscal Private Limited

B. Key Management Personnel and their relatives

S. No. Name of the Company Relationship

1 R K Rajgarhia Chairman and Managing Director

2 H R Sharma Executive Director

3 S G Rajgarhia Director

4 Ajay Rajgarhia Key Management Person

5 Aditi Rajgarhia Grand Daughter of CMD

6 R K Rajgarhia & Sons HUF

C. Related Party Transactions

D. No amount pertaining to related parties which have been provided for as doubtful debts written off in respect of related parties

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

F. Disclosure of material transaction with related party

8. Profit/Loss on the sale of raw material is adjusted in the raw material consumed account. However, the amount of profit/loss is not material.

9. Figures of previous year have been regrouped or rearranged wherever found necessary and the same are appearing in brackets.

10. Schedules 1 to 35 form an integral part of the accounts and have duly been authenticated.


Mar 31, 2011

1. Contingent liabilities not provided for:

Particulars Year ended March 31, 2011 March 31, 2010 Rupees Rupees

Unexpired letters of credit [Net of margins Rs. 5,083,116 (Previous year Rs. 5,848,506] 23,851,982 35,651,494

Bills discounted 74,172,947 50,757,185

Service Tax NIL 7,725

Excise Duty (Payment made Rs. 486,240 (Previous year Rs. 486,240)) 806,204 806,204

Sales Tax 6,842,285 6,842,285

2. Estimated amount of contracts remaining to be executed on capital account [Net of advances Rs. 10,475,746/- Previous Year Rs. 5,778,458/-] not provided for Rs. 35,714,530/- (Rs. 41,953,885/-).

3. There are no Micro, Small and Medium Enterprises to whom the company owes dues, which are outstanding for more than 45 days as at March 31, 2011. This information required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006, has been determined to the extent such parties have been identified on the basis of information available with the Company.

4. Related party disclosures

a) The following are the related Parties of the Company

Companies under common control Orient Abrasives Limited with whom transactions have taken Perfectpac Limited place during the year: Rajgarhia Leasing and Financial Services Private Limited

AJR Fiscal Private Limited

Faridabad Paper Mills Limited

Companies under common control Axis Cortex Private Limited with whom no transactions have Ess Vee Fiscal Private Limited taken place during the year

Key management personnel & their relatives: R. K. Rajgarhia, Chairman and Managing Director

H. R. Sharma, Executive Director

S.G. Rajgarhia

Ajay Rajgarhia

Prabha Rajgarhia

Aditi Rajgarhia

R K Rajgarhia & Sons (HUF)

5. Employee Benefit :

Effective from April 01, 2007, the company adopted the revised accounting standard 15 "Employee Benefits" (AS - 15) issued by the Institute of Chartered Accountants of India.

6. Profit/Loss on the sale of raw material is adjusted in the raw material consumed account. However, the amount of profit/loss is not material.

7. At the Extra Ordinary Meeting held on January 18, 2011, the shareholders approved the split of face value of share of Rs. 10/- each into face value of share of Rs. 21- each. The new share certificates were issued to the members whose named appeared on record date i.e. January 28, 2011.

8. Figures of previous year have been regrouped or rearranged wherever found necessary and the same are appearing in brackets.

9. Schedules 1 to 18 form an integral part of the accounts and have duly been authenticated.


Mar 31, 2010

1 Contingent liabilities not provided for:-

Year ended Particulars March 31, March 31,

2010 2009 Rupees Rupees

Unexpired letters of credit [Net of margins Rs.5,848,506 (Previous yearRs. 5,584,540)] 35,651,494 10,415,460

Bills discounted 50,757,185 14,589,381

Service Tax 7,725 Nil

Excise Duty 806,204 806,204

Sales Tax 6,842,285 Nil

2. Estimated amount of contracts remaining to be executed on capital account [Net of advances Rs.5,778,458 (Previous Year Rs.5,506,554] not provided for Rs.41,953,885. (Rs. 55,423,885).

3. There are no Micro, Small and Medium Enterprises to whom the company owes dues, which are outstanding for more than 45 days as at March 31, 2010. This information required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006, has been determined to the extent such parties have been identified on the basis of information available with the Company.

4. Related party disclosures

a) The following are the related parties of the company Companies under common control Orient Abrasives Limited with whom transactions have taken Perfectpac Limited place during the year: Rajgarhia Leasing &- Financial Services Private Limited.

AJR Fiscal Private Limited Faridabad Paper Mills Limited

Companies under Common control Axis Cottex Private Limited with whom no transactions have taken Essvee Fiscal Private Limited place during the year:

Key Management Personnel & R.K.Rajgarhia,Chairman and Managing Director their relatives H.R.Sharma,Executive Director S.G. Rajgarhia Ajay Rajgarhia Prabha Rajgarhia Aditi Rajgarhia R.k.rajgarhia & sons (HOP)

b) Related Party Transactions

No amount pertaining to related parties which have been provided for as doubtful debts or written off in respect of related parties Related party relationship is as identified by the Company and relied upon by the Auditors.

5. Profit / Loss on the sale of raw material is adjusted in the raw material consumed account. However, the amount of the profit / loss is not material.

6. Figures of previous year have been regrouped of rearranged wherever found necessary and the same are appearing in brackets.

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