Mar 31, 2014
CORPORATE INFORMATION
Arcee Industries Limited was incorporated in the year 1992. The company
is engaged in the activity of manufacturing of Rigid PVC Pipes.
The Equity Shares of the Company is listed in BSE Limited. Mumbai.
1. Deferred Tax
Deferred Taxation Assets and Deferred Taxation Liabilities have been
calculated as per AS-22 issued by the 1CAI. Deferred Taxation Assets
has been taken in to consideration as the management is assured
that the company will generate sufficient profits in future to derive
full benefit of current unabsorbed depreciation and losses. This
assurance is based upon company''s track record and the future outlook
of the PVC pipe industry.
2. Contingent Liabilities on account of (Amount in Rs.)
2013-2014. 2012-2013
Bank Guarantee 6,00,000 5,00,000
3. Disclosure under Micro, Small and Medium Enterprises Development
(MSMED)Act, 2006:
Dues in respect, Micro and Small enterprises are being regularly met as
per agreed terms and, as such, there remains no liability towards
interest. Principal amounts remaining payable in respect of such
parties, as at 31st March, 2014, amount to Rs. 4,77,115/- (Previous
Year Rs. 28,89,350/-)
4. Certain balances representing Debtors and Creditors, are subject to
reconciliation and receipt of confirmations from parties, pursuant to
confirmation requests sent by the company.
5. Figures for the year have been rounded-off to the nearest rupees.
6. Figures for the previous year figures have been
reclassified/regrouped wherever required.
Mar 31, 2013
1. Deferred Tax
Deferred Taxation Assets and Deferred Taxation Liabilities have been
calculated as per AS-22 issued by the ICAI. Deferred Taxation Assets
has been taken in to consideration as the management is assured that
the company will generate sufficient profits in future to derive full
benefit of current unabsorbed depreciation and losses. This assurance
is based upon company''s track record and the future outlook of the
PVC pipe industry.
2. Contingent Liabilities on account of
(Amount in Rs.)
2012-2013 2011-2012
Bank Guarantee 5,00,000 5,00,000
ILC - 91,44,840
3. Disclosure under Micro, Small and Medium Enterprises Development
(MSMED) Act 2006:
Dues in respect, Micro and SmaEI enterprises are being regularly met as
per agreed terms and, as such: there remains no liability towards
interest. Principal amount/s remaining payable in respect of such
parties, as at 31s! March, 2013, amount to Rs. 28,89,350/- (Previous
Year Rs. 14,26,085/-).
4. Certain balances representing Debtors and Creditors, are subject to
reconciliation and receipt of confirmations from parties, pursuant to
confirmation requests sent by the company.
5 Figures for the year have been rounded-off to the nearest rupees.
6. Figures are as per revised Schedule VI of the Companies Act, 1956
w.e.f. financial year 2011-2012.
Mar 31, 2012
1. CORPORATE INFORMATION
Arcee Industries Limited was incorporated in the year 1992. The company
is engaged in the activity of manufacturing of Rigid PVC Pipes.
The Equity Shared of the Company is listed in Bombay Stock Exchange
Limited, Mumbai.
1. Deferred Tax
Deferred Taxation Assets and Deferred Taxation Liabilities have been
calculated as per AS-22 issued by the ICAI. Deferred Taxation Assets
has been taken in to consideration as the management is assured that
the company will generate sufficient profits in future to derive full
benefit of current unabsorbed depreciation and losses. This assurance
is based upon company's track record and the future outlook of the
PVC pipe industry.
2. Contingent Liabilities on account of (Amount in Rs.)
2011-2012 2010-2011
Bank Guarantee 5,00,000 5,00,000
ILC 91,44,840 -
3. Disclosure under Micro, Small and Medium Enterprises Development
(MSMED) Act, 2006:
Dues in respect, Micro and Small enterprises are being regularly met as
per agreed terms and, as such, there remains no liability towards
interest. Principal amount/s remaining payable in respect of such
parties, as at 31st March, 2012, amount to Rs. 14,26,085/- (Rs.
12,60,722/-).
4. Certain balances representing Debtors and Creditors, are subject to
reconciliation and receipt of confirmations from parties, pursuant to
confirmation requests sent by the company.
5. Figures for the year have been rounded-off to the nearest rupees.
6. The Revised Schedule VI has become effective from 1s' April, 2011
for the preparation of Financial Statements. This has significantly
impacted the disclosure and presentation made in the financial
statements. Previous Year's figures have been regrouped and
reclassified, wherever necessary to correspond with the Current
Year's classification/disclosure.
Mar 31, 2011
1. CONTINGENT LIABILITIES (Amount in Rs.)
2010-2011 2009-2010
Bank Guarantee 5,00,000 Nil
2. TAXATION
Current Tax is determined as the amount of tax payable in respect of
taxable income for the year. The deferred tax for timing difference
between the book and tax profit for the year is accounted for using tax
rates and tax laws that have been enacted or substantially enacted at
the Balance Sheet date. Deferred Tax assets arising from the timing
difference are recognized to the extent that there is virtual certainty
that sufficient future taxable income will be available.
Deferred Taxation Assets and Deferred Taxation Liabilities have been
calculated as per AS-22 issued by the ICAI. Deferred Taxation Assets
has been taken in to consideration as the management is assured that
the company will generate sufficient profits in future to derive full
benefit of current unabsorbed depreciation and losses. This assurance
is based upon company's track record and the future outlook of the PVC
pipe industry.
3. SEGMENT INFORMATION (AS-17)
The company is engaged primarily in the business of Rigid PVC Pipes.
The production facility is located at one place and the business is
fully concentrated in India. As the basic of nature of these activities
are governed by the same set of risks and returns, these have been
grouped as a single business segment. Accordingly, segment reporting
disclosure as envisaged in Accounting Standard (AS-17) "Segment
Reporting", issued by the Institute of Chartered Accountants of India,
is not applicable to the Company.
4. IMPAIRMENT OF ASSETS (AS-28)
Pursuant to accounting standard (AS-28) "Impairment of Assets" issued
by the Institute of Chartered Accountants of India, the company
assessed its assets for impairment as at 31st March, 2011 and concluded
that there has been no significant impaired assets that needs to be
recognized in the books of accounts.
5. RELATED PARTY DISCLOSURES
Disclosures as required by the Accounting Standard 18 "Related Party
Disclosures" are given below :-
RELATED PARTIES
A) Associate Companies
(i) Arcee Ispat Udyog Limited
(ii) APL Fincap Limited
(iii) Phoenix Irrigation Limited
B) Key Management personnel
(i) Sh. R.C. Gupta, Whole Time Director
(ii) Smt. Krishna Gupta, Director
(iii) Sh. S.P. Kanodia, Director
(iv) Sh. Manoj Goyal, Director
(v) Sh. Pankaj Agarwal, Director
6. In the opinion of Board of Directors Current Assets, Loans and
Advances have the value at which these have been stated in the Balance
Sheet, If realised in the ordinary course of business.
7. Creditors include amount due to Small Scale Industrial Undertakings
Rs. 12,60,722/- Creditors include the following Small Scale Industrial
Undertaking having outstanding balance exceeding Rupees One Lacs for
more than 30 days.
1. Kunal Calcium (P) Limited, Yamuna Nagar
2. Synergy Poly Additives (P) Limited, Solan
8. The balances in parties account are subject to confirmation.
9. Paise has been rounded off to the nearest rupees.
10. Previous year figures have been regrouped/rearranged wherever
necessary.
11. Schedule 1 to 16 form integral part of the Balance Sheet and
Profit & Loss Account and have been duly authenticated.
Mar 31, 2010
1. CONTINGENT LIABILITIES
Nil
2. TAXATION
Current Tax is determined as the amount of tax payable in respect of
taxable income for the year. The deferred tax for timing difference
between the book and tax profit for the year is accounted for using tax
rates and tax laws that have been enacted or substantially enacted at
the Balance Sheet date. Deferred Tax assets arising from the timing
difference are recognized to the extent that there is virtual certainty
that sufficient future taxable income will be available.
3. SEGMENT INFORMATION {AS-17)
The company is engaged primarily in the business of Rigid PVC Pipes.
The production facility is located at one place and the business is
fully concentrated in India. As the basic of nature of these activities
are governed by the same set of risks and returns, these have been
grouped as a single business segment. Accordingly, segment reporting
disclosure as envisaged in Accounting Standard (AS-17) "Segment
Reporting", issued by the Institute of Chartered Accountants of India,
is not applicable to the Company.
4, IMPAIRMENT OF ASSETS (AS-28)
Pursuant to accounting standard (AS-28) "Impairment of Assets" issued
by the Institute of Chartered Accountants of India, the company
assessed its assets for impairment as at 31st March, 2010 and concluded
that there has been no significant impaired assets that needs to be
recognized in the books of accounts.
5. In the opinion of Board of Directors Current Assets, Loans and
Advances have the value at which these have been stated in the Balance
Sheet, If realised in the ordinary course of business.
6. Creditors include amount due to Small Scale Industrial Undertakings
Rs, 8,75,024/- Creditors include the following Small Scale Industrial
Undertaking having outstanding balance exceeding Rupees One Lacs for
more than 30 days.
Kushal Pipes, Sonipat
7. The balances in parties account are subject to confirmation.
8. Paise has been rounded off to the nearest rupees.
9. Previous year figures have been regrouped/rearranged wherever
necessary.
10 Schedule 1 to 16 form integral part of the Baiance Sheet and Profit
& Loss Account and have been duly authenticated.