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Notes to Accounts of Associated Alcohols & Breweries Ltd.

Mar 31, 2015

1. Defined Benefit Plan

i) The obligation of leave encashment is recognized, provided and paid on yearly basis. There is no accumulation of leave encashment.

ii) The Company has taken Group Gratuity Policy of LIC of India. The Present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

2. Expenditure on account of corporate Social Responsibility as per Section 135 of Companies Act, 2013 amounting to Rs. 12.28 Lacs has not been spent by the company during the financial year.

3. The income amounting to Rs. 244.85 Lacs appearing under the head exceptional item relates to profit/ gain arising from disposal off certain old and outdated plant and machinery upon commissioning of new plant.

4. CONTINGENT LIABILITIES AND COMMITMENTS

(Rs. In Lacs)

PARTICULARS 31.03.2015 31.03.2014

I Contingent Liabilities

(A) Guarantees

(i) Guarantees to Banks and Financial Institutions against credit facilities extended to third parties 3200.00 3200.00

(ii) Bank Guarantees to other parties 223.97 251.97

(B) Dues

(iii) Entry Tax payable 133.62 53.00

(iv) State Excise Duty payable 536.18 208.15

(v) MPGATSAVA Tax 13.65 7.16

(vi) Income Tax demand 13.92 12.35

(vii) Central Sales Tax Payable 2089.21 0.00

(viii) M.P. VAT Payable 93.38 0.00

II Commitments

(A) Estimated amount of contracts remaining to be executed on capital account and not provided for 47.30 107.46

5. RELATED PARTY DISCLOSURE

A List of Related Parties where control exists and related parties with whom transactions have taken place.

Name of Related Party Relationship

Mr.Ashish Kumar Gadia Key Managerial Personnel

Mr.Anand Kumar Kedia Individual owning voting power giving control or significant influence.

Mr.Prasann Kumar Kedia Individual owning voting power giving control or significant influence.

Mrs.Ram Dulari Kedia Individual owning voting power giving control or significant influence.

Mrs.Sangita Kedia Individual owning voting power giving control or significant influence.

Mrs.Sweta Kedia Individual owning voting power giving control or significant influence.

Mr. Anshuman Kedia Relative of individual owning voting power giving control or significant influence.

Miss Ravisha Kedia Relative of individual owning voting power giving control or significant influence.

Enterprise over which persons referred Venkareshwar Inv. & Fin. (P) hereinabove have been able to exercise Ltd significant influence.

Enterprise over which persons referred hereinabove have been able to exercise Snehsil Hirise (P) Ltd significant influence.

Vedant Energy Pvt. Ltd. Subsidiary Company


Mar 31, 2014

1. The Cash Flow Statement has been prepared under the " Indirect Method" as set out in Accounting Standard - 3 on Cash Flow Statement issued by the Institute of Chartered Accountants of India.

2. The following have been considered under financing activities :- Cash credit / Working capital demand loan and other borrowings being source of finance.

3. Proceeds from borrowings are shown net of repayments.

4. Purchase of fixed assets are shown inclusive of movements in capital work - in - progress.

5. Cash and cash equivalents represent cash & bank balances and bank deposits.

6. Previous year''s figures have been regrouped wherever necessary.

Note 1.2

The company has only one class of equity shares having par value of ''10 each. Each holder of equity share is entitled to one vote per share.

Note 1.3

Details of shares in the company held by each shareholder holding more than 5% shares

a) Term loan includes Rs. 50.50 Lacs (previous year Rs. 39.46 Lacs) as car loan, secured by hypothecation on assets acquired under the scheme and personal gurantee of a director.

b) Financial assistance of Rs. 3366.70 Lacs (previous year Rs. 3103.81 Lacs) as term loan, secured by pari passu first charge on entire fixed assets of the company through hypothecation for movable and mortgage of immovable on present and future net block of the company, pledge of FDRs of Rs. 205.59 Lacs (previous year Rs. 189.95 Lacs) and personal guarantee of a director.

Financial assistance of Rs. 1786.41 Lacs (previous year Rs. 1703.55 Lacs) as cash credit facility, repayable on demand, secured by first charge by way of hypothecation of inventory and book debts and second charge by way of hypothecation of movable and mortgage of immovable on entire present and future net block and personal guarantee of a director.

Note 6.2

Financial assistance of Rs. 412.16 Lacs (previous year Nil) as Bill discounting facility, tenor of a particular bill not to exceed 90 days.

Unpaid dividend has been accounted for with enhanced amount Rs. 0.13 Lacs upon reconciliation with list of unpaid amount as received from company''s Registrar & Transfer Agent.

Note 8.2

Other Payables includes advance from debtors, expenses and statutory liabilities payables.

NOTE 9

SHORT TERM PROVISIONS

NOTE 12

LONG TERM LOANS & ADVANCES (Unsecured and Considered Good)

Note 12.1

Other loan & Advances include loans, advances to employees, loans to body corporates. NOTE 13

OTHER NON-CURRENT ASSETS

Inventories are valued at lower of cost or net realizable value except cost of work in progress, which is determined on absorption costing method.

NOTE 15

TRADE RECEIVABLES (Unsecured and Considered Good)

Note 16.1

Balance of Rs. 1.31 Lacs (previous year Rs. 1.18 Lacs) with IDBI Bank Limited earmarked for unpaid dividend.

Note 16.2

Fixed Deposits with banks include deposits of Rs. 172.57 Lacs (previous year Rs. 204.47 Lacs) with maturity of more than 12 months. Fixed Deposits with banks amount to Rs. 95.75 Lacs (previous year Rs. 124.51 Lacs) earmarked for issuance of Bank Guarantees and Rs. 162.77 Lacs (previous year 189.95 Lacs) earmarked for borrowings of Rs. 3022.98 Lacs (previous year 2622.57 Lacs).

NOTE 17

SHORT TERM LOAN & ADVANCES (Unsecured and Considered Good)

Note 17.1

Other loans & advances include prepaid expenses, statutory receivables, deposits with government departments, advance to employees, advance to suppliers and to service providers.

As per Accounting Standard 15 " Employee Benefits ", the disclosures of Employee benefits as defined in the Accounting Standard are given below :

B) Defined Benefit Plan

i) The obligation of leave encashment is recognized, provided and paid on yearly basis. There is no accumulation of the sam except current year

ii) The Company has taken Group Gratuity Policy of LIC of India. The Present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

Other Selling & Administration expenses includes prior period expenses (net of income) of Rs. 13.41 Lacs (previous year Rs. (0.32) Lacs).

NOTE 27

CONTINGENT LIABILITIES AND COMMITMENTS

(RsIn Lacs) PARTICULARS 31.03.2014 31.03.2013

Contingent Liabilties

(A) Guarantees

(i) Guarantees to Banks and Financial Institutions

against credit facilities extended to third parties 3200.00 3200.00

(ii) Bank Guarantees to other parties 251.97 227.66

(B) Dues

(iii) Entry Tax payable 53.00 49.93

(iv) State Excise Duty payable 208.15 348.53

(v) MPGATSAVA Tax 7.16 2.65

(vi) Income Tax demand 12.35 75.54

(vii) Fringe Benefit Tax demand 0.00 0.42

Commitments

(A) Estimated amount of contracts remaining to be executed on capital account and not provided for 107.46 946.30

A List of Related Parties where control exists and related parties with whom transactions have taken place.

Name of Related Party Relationship

Mr.Ashish Kumar Gadia Key Managerial Personnel

Mr.Anand Kumar Kedia Individual owning voting power giving control or significant influence.

Mr.Prasann Kumar Kedia Individual owning voting power giving control or significant influence.

Mrs.Ram Dulari Kedia Individual owning voting power giving control or significant influence.

Mrs.Sangita Kedia Individual owning voting power giving control or significant influence.

Mrs.Sweta Kedia Individual owning voting power giving control or significant influence.

Mr. Anshuman Kedia Relative of individual owning voting power giving control or significant influence.

Miss Ravisha Kedia Relative of individual owning voting power giving control or significant influence.

Venkareshwar Inv.& Enterprise over which persons referred Fin.(P) Ltd hereinabove have been able to exercise significant influence.

Snehsil Hirise (P) Ltd Enterprise over which persons referred hereinabove have been able to exercise significant influence.

Vedant Energy Pvt. Ltd. Subsidiary Company


Mar 31, 2013

Note 1.1

As per Accounting Standard 15" Employee Benefits ", the disclosures of Employee benefits as defined in the

Accounting Standard are given below :

A) Defined Contribution Plan

Contribution to Defined Contribution Plan, recognized as expense for the year are as under:-

B) Defined Benefit Plan

i) The obligation of leave encashment is recognized, provided and paid on yearly basis. There is no accumulation of the same except current year

ii) The Company has taken Group Gratuity Policy of LIC of India. The Present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

Note 1.2

Other Selling & Administration expenses includes foreign currency fluctuation expenses amounting to Nil (previous year Rs. 0.60 Lacs) and prior period expenses (net of income) of Rs. (0.32) Lacs/- (previous year Rs. (15.89) Lacs).

NOTE 2

CONTINGENT LIABILITIES AND COMMITMENTS

(Rs. In Lacs) PARTICULARS 31.03.2013 31.03.2012

Contingent Liabilties

(A) Guarantees

(i) Guarantees to Banks and Financial Institutions against credit facilities extended to third parties 3200.00 3100.00

(ii) Bank Guarantees to other parties 227.66 341.79

(B) Dues

(Hi) VAT payable 0.00 40.18

(iv) Entry Tax payable 49.93 34.13

(v) State Excise Duty payable 348.53 0.00

(vi)MPGATSAVATax 2.65 0.00

(v) Income Tax demand 75.54 5.50

(vi) Fringe Benefit Tax demand 0.42 0.42

Commitments

(A) Estimated amount of contracts remaining to be executed on capital account and not provided for 946.3 2849.94


Mar 31, 2012

Note 1.1

a) Term loan includes Rs. 47.16 Lacs (previous yearRs. 45.84 Lacs) as car loan, loan repayable on monthly basis, secured by hypothecation on assets acquired under the scheme and personal guarantee of directors.

b) Financial assistance of Rs. 1018.77 (previous year Rs. 628.99 Lacs) as term loan, loan repayable on quarterly basis, secured by pari passu first charge on entire fixed assets of the company through hypothecation for movable and mortagage of immovable on present and future net block of the company and personal gurantee of director.

c) Financial assistance of Rs. 1437.65 Lacs (previous year Rs. 1028.32 Lacs) as unsecured loans are repayable after one year.

Note 2.1

Financial assistance of Rs. 1684.90 Lacs (previous year Rs. 1769.47 Lacs) as cash credit facility, repayable on demand, secured by first charge by way of hypothecation of inventory and book debts and second charge by way of hypothecation of movable and mortgage of immovable on entire present and future net block and personal guarantee of a director.

Note 3.1

Inventories are valued at lower of cost or net realizable value except cost of work in progress, which is determined on absorption costing method.

Note 4.1

Balance of Rs. 1.19 Lacs (previous year Rs. 1.19 Lacs) with IDBI Bank Limited earmarked for unpaid dividend.

Note 5.1

Fixed Deposits with banks include deposits of Rs. 8.09 Lacs (previous year Rs. 31.08 Lacs) with maturity of more than 12 months.

Fixed Deposits with banks amount to Rs. 66.54 Lacs (previous year Rs. 44.96 Lacs) earmarked for issuance of Bank Guarantees.

Note 6.1

Other loans & advances include prepaid expenses, statutory receivables, deposits with government departments, advance to employees, advance to suppliers and to service providers.

Note 7.1

Other operating revenue consists of compensation received from brand owner manufacturing activity.

Note 8.1

Other Non-operating income inculdes profit on sale of fixed assets, rent income and recovery from written off debtors .

B) Defined Benefit Plan

i) The obligation of leave encashment is recognized, provided and paid on yearly basis. There is no accumulation of the same except Current year

ii) The Company has taken Group Gratuity Policy of LIC of India. The Present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the

Note 9.1

Other Selling & Administration expenses includes foreign fluctuation currency expenses amounting to Rs. 6.00 Lacs (previous year 7 0.34 Lacs) and prior period expenses (net of income) of (715.90 Lacs) (previous yearRs. 34.75)

NOTE 10

CONTINGENT LIABILITIES AND COMMITMENTS

Rs. in Lacs

PARTICULARS 31.03.2012 31.03.2011

II Contingent Liabilities

(A) Guarantees

(i) Guarantees to Banks and Financial Institutions against credit facilities extended to third parties 3100.00 3100.00

(ii) Bank Guarantees to other parties 341.79 255.52

(B) Dues

(iii) VAT payable 40.18 40.18

(iv) Entry Tax payable 34.13 0.00

(v) Income Tax demand 5.50 5.50

(vi) Fringe Benefit Tax demand 0.42 0.42 Commitments

(A) Estimated amount of contracts remaining to be executed on capital account and not provided for 2849.94 290.62


Mar 31, 2011

1. Subscribed and Paid up Share Capital includes 16,38,700 Equity shares (Previous Year-16,38,700 Equity shares) allotted earlier as fully paid bonus shares by capitalization of revaluation reserve of Rs. 163.87 lacs.

2. Estimated amount of capital contracts remaining to be executed on capital accounts not provided for Rs. 290.62 Lacs (Previous Year: Rs. 466.99 Lacs).

3. Contingent Liabilities in respect of following not provided for -

i) Bank guarantee amounting to Rs.255.52 Lacs (Previous Year Rs. 102.66 Lacs).

ii) Corporate Guarantee amounting to Rs.31.00 Crores (Previous year Rs.25.50 Crores) given to secure borrowings of M/s. Mount Everest Breweries Ltd.

iii) VAT Tax Payable of Rs. 40.18 lacs on country Liquor Bottles written off against the bottle Deposit due to change in the M.P. State Government Excise Policy.

4. Depreciation includes Rs.30,000/- (previous year Rs.30,000/-) being the proportionate amount of Lease Premium, of lease hold Factory Land divided overthe tenure of lease amortized for the year.

5. Loan given includes Rs.6.54 Crores (Previous Year Rs. 5.17 Crores) given free of interest to a company within the group.

6. The Company has filed a case under Section 138 of Negotiable Instrument Act, for recoveriy of dues from M/s. Jaipur Distilleries Ltd. for dishonour of cheque of Rs. 70 lacs for which a provision was made in earlier year.

7. Loans, Advances, Deposits, Creditors and Debtors accounts have been taken as per books of accounts and these are subject to confirmation.

8. In the opinion of the Board, the current assets have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance sheet and provision of know liabilities is adequate and not in excess of the amount, reasonable and necessary.

9. Tax deducted at source on interest income Rs.12,23,506/- (Previous Year Rs. 8,11,786/-).

10. Other Income includes interest income Rs. 1,21,60,905/- (Previous year Rs. 70,98,986/-), Duty Draw Back Rs. 1,74,640/- (previous year Rs. 94,400/-), Profit on Sale of fixed assets Rs.54,022/- (previous year Rs. 2,65,360/-), Misc. Insurance claim Receipts Rs. 14,34,664/- (previous year Rs. 3,05,659/-), Foreign Currency fluctuation gain Nil (Previous Year Rs. 2,661/-) and Keyman Policy receipts NIL (Previous Year Rs. 66,15,000/-).

11. As per clause 6(xiv) of the Terms and Conditions of the Tender Notice No. 5(1)2011-3 dated 22nd January 2011 issued by the Office of the Excise Commissioner Madhya Pradesh, Gwalior and published in the Official Gazette (S.No. 27) of the State of Madhya Pradesh, with effect from 1st April, 2011, the Company is not under an obligation to take back old glass bottles from the retailers against bottle deposits in respect of its Country Liquor sale. Accordingly, the Company is not under an obligation to refund the security deposit lying with it for empty glass bottles. Owing to aforesaid change in State Government Excise Policy for manufacture and supply of Country Liquor, the bottles lying with third parties and security deposit on such bottles as on 31st March 2011 has been written off which resulted in an extra ordinary income of Rs. 1,46,66,222/-.

12. Directors' remuneration represents aggregate amount of salary paid to Whole-Time Directors.

13. Misc. office, administration and selling expenses include loss on sale of assets Rs. 1,27,420/- (Previous year Rs. 36,596/-), Foreign Currency fluctuation Loss Rs. 34,432/- (Previous Year Nil), Sundry Balances written off Rs. 14,92,423/- (Previous Year Nil) and Rs.2,32,48,282/- (previous year nil) being loss on derivative business.

14. Manufacturing expenses includes Rs. 14,65,826/- (Previous Year Rs. 1,44,735/-), Office, administrative Expenses includes Rs. 14,40,855/- (Previous Year Rs. 2,62,210/-) and financial charges includes Rs. 5,68,774/- (Previous Year Nil) forthe prior periods.

15. As per Accounting Standard 15 "Employee Benefits", the disclosures of Employee benefits as defined in the Accounting Standard are given below:

16. Related parties disclosure as per Accounting Standard -18 is given hereunder:

A. List of Related Parties where control exists and related parties with whom transactions have taken place.

S. Name of the Related Party Relationship No

01.Mr. Santosh Kumar Kedia Key Managerial Personnel

02.Mr. Harshan Kumar Bhandari Key Managerial Personnel

03.Mr. Ashish Kumar Gadia Key Managerial Personnel

04.Mrs. Chandadevi Kedia Relative of Key Managerial Personnel

05.Mrs. Udita Bhandari Relative of Key Managerial Personnel

06.Mr. Anand Kumar Kedia Individual owning voting power giving control or significant influence.

07.Mr. Prasann Kumar Kedia Individual owning voting power giving control or significant influence.

08.Mrs. Ram Dulari Kedia Individual owning voting power giving control or significant influence.

09.Mrs. Sangita Kedia Individual owning voting power giving control or significant influence.

10.Mrs. Sweta Kedia Individual owning voting power giving control or significant influence.

11.Venkareshwarlnv. & Fin. (P) Enterprise over which persons Ltd referred hereinabove have been able to exercise significant influence.

12.Snehsil Hirise (P) Ltd Enterprise over which persons referred hereinabove have been able to exercise significant influence.

1. SEGMENT REPORTING:

The Company has identified primary reportable segments viz Potable Alcohols & Wind Power Segments have been identified and reported taking into account nature of products and services, the differing risks and returns and the internal business reporting systems. The accounting policies adopted for segment reporting are in line with the accounting policy of the Company with following additional policies for segment reporting,

a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relate to enterprises as a whole and not allocable to a segment on reasonable basis have been disclosed as "Unallocable".

17. Previous Year's figures have been regrouped, re-casted and/or rearranged wherever necessary.


Mar 31, 2010

1. Subscribed and Paid up Share Capital includes 16,38,700 Equity shares (Previous Year-16,38,700 Equity shares) allotted earlier as fully paid bonus shares by capitalization of revaluation reserve of Rs. 163.87 lakes.

2. Estimated amount of capital contracts remaining to be executed on capital accounts not provided for Rs.466.99 Lacs (Previous Year: Rs.33.67 Lacs)

3. Contingent Liabilities in respect of following not provided for -

i) Bank guarantee amounting to Rs. 102.66 Lacs (Previous Year Rs. 130.66 Lacs).

ii). Corporate Guarantee amounting to Rs.25.50 Crores (Previous year Rs.25.50 Crores) given to secure borrowings of Mount Everest Breweries Ltd.

iii). Contingent Liability not provided for (a) Rs. 5,50,167/- being income tax demand for the year ended on 31 st March, 2007 against which an appeal has been preferred, (b) Rs.42,145/- being Fringe Benefit Tax for the year ended on 31st March, 2007, against which a rectification petition has been filed.

4. Other Liabilities include Rs.515.74 lacs /- (31.03.2009 Rs. 398.08 lacs) being amount received from customers in the ordinary course of business as refundable deposits against bottles issued to them incase of country liquor business of the company.

5. Depreciation includes Rs.2,70,000/- (inclusive of prior period amount of Rs.2,40,000/-) (previous year Rs.30000/-) being the proportionate amount of Lease Premium divided over the tenure of lease amortized for the year

6. Loan given includes Rs.5.17 Crores (31.03.2009 Rs. 5.62 Crores) given free of interest to a company within the group.

7. The Company has filed a case under Section 138 of Negotiable Instrument Act, for recovering of dues from M/s. Jaipur Distilleries Ltd. for dishonour of cheque of Rs. 70 lacs.

8. Advances, creditors and debtors accounts have been taken as per books of accounts and these are subject to confirmation

9. In the opinion of the Board, the current assets have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance sheet and provision of know liabilities is adequate and not in excess of the amount, reasonable and necessary.

10. Tax deducted at source on interest income Rs.8,11,786/-(Previous Year Rs. 13,65,037/-).

11. Other Income includes Rs.70,98,986/- (Previous Year: Rs. 65,46,834/-), interest income, Rs.94,400/- (Previous Year Rs. 4,18,800/-) Duty Draw Back, Rs.2661/- (Previous year Rs. 2,569 /-) on account of foreign currency fluctuation and Profit on Sales of Assets Rs. 2.65,360/- (Previous Year Nil). Interest Income includes the interest amount of Rs.25,97,469/- for the prior period provided during the year.

12. Directors remuneration represents aggregate amount of salary paid to Whole-Time Directors.

13. Miscellaneous office, administrative and selling expenses include loss on sale of capital assets Rs.36,596/- (Previous Year Rs. 12,093/-), Warehouses expenses of Rs. 5,06,49,546/- (Previous year Rs. 4,10,83,506/-) and loss on impairment assets Rs. 4,90,496/- (Previous year Nil).

14. Manufacturing expenses includes Rs. 1,44,735/- (Previous Year Rs. 6,13,742/-), Office and administrative Expenses includes Rs. 2,62,210/- (Previous Year Rs. 2,74,085/-) and Depreciation includes Rs. 2,51,150/- (Previous Year Nil) for the prior period.

15. Miscellaneous manufacturing expenses includes Excise Duty of Rs.27,69,83,043/- (Previous year of Rs. 26,28,75,510/-).

16. As per Accounting Standard 15 " Employee Benefits ", the disclosures of Employee benefits as defined in the Accounting Standard are given below:

DEFINED CONTRIBUTION PLAN

Contribution to Defined Contribution Plan, recognized as expense for the year are as under. -

Employers Contribution to Provident Fund Rs. 8,02,789/- (9,60,291/-)

DEFINED BENEFIT PLAN

The Company has taken Group Gratuity Policy of LIC of India. The Present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

17. Related parties disclosure as per Accounting Standard 18 is given hereunder.

A. List of Related Parties where control exists and related parties with whom transactions have taken place.

S.No. Name of the Related Party Relationship

01. Mr. Santosh Kumar Kedia Key Managerial Personnel

02. Mr.Harshan Kumar Bhandari Key Managerial Personnel

03. Mr.Ashish Kumar Gadia Key Managerial Personnel

04. Mrs.Chandadevi Kedia Relative of Key Managerial Personnel

05. Mrs. Udita Bhandari Relative of Key Managerial Personnel

06. Mr.Anand Kumar Kedia Individual owning voting power giving control or significant influence.

07. Mr.Prasann Kumar Kedia Individual owning voting power giving control or significant influence.

08. Mrs. Ram Dulari Kedia Individual owning voting power giving control or significant influence.

09. Mrs.Sangita Kedia Individual owning voting power giving control or significant influence.

10. Mrs. Sweta Kedia Individual owning voting power giving control or significant influence.

11. Mount Everest Breweries Limited Enterprise over which persons referred hereinabove able to exercise significant influence.

12. Millennium Urja Limited Enterprise over which persons referred hereinabove able to exercise significant influence.

18. SEGMENT REPORTING:

The Company has identified two reportable segments viz. Potable Alcohols & Wind Power. Segments have been identified and reported taking into account nature of products and services, the differing risks and returns and the internal business reporting systems. The accounting policies adopted for segment reporting are in line with the accounting policy of the Company with following additional policies for segment reporting.

a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relate to enterprises as a whole and not allocable to a segment on reasonable basis have been disclosed as "Unallocable".

b) Segment assets and segment liabilities represent assets and liabilities in respective segments. Investments, Tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been closed as "Unallocable".

19. Previous Years figures have been regrouped, re-casted and/or rearranged wherever necessary.

 
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