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Notes to Accounts of Astra Microwave Products Ltd.

Mar 31, 2016

Qualified Institutional Placement :

The Company has issued 47,86,450 equity shares in the current period under the Qualified Institutional Placement (QIP) issue. The face value of these shares are Rs.2/- each and these were issued at a premium of Rs.133.80 per share.

Disclosure pursuant to Note no. 6(A)(e) of Part I of Schedule III to the Companies Act, 2013

The rights, preferences and restrictions attaching to each class of shares including restrictions on the distribution of dividends and the repayment of capital;

a) The Company has only one class of shares referred to as equity shares having a par value of Rs.2/-. Each holder of equity shares is entitled to one vote per share.

b) The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

c) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

1. CSR Expenditure: During the year the company has incurred Rs.1,34,85,237/- (Previous year Rs.1,08,17,394/-) as CSR Expenditure under Corporate Social Responsibility Policy of the Company as approved by the Board of Directors of the Company, the details of the same are included in the Board''s Report

2. Segment Reporting: The Company operates in the same segment of manufacture and sale of Microwave Products which are subject to similar risks and returns.

3. During the year provision for income tax has been provided as per the provisions of Section 115JB of the Income Text Act.

4. MAT Credit entitlement: Minimum Alternative Tax paid as per the provisions of the Section 115JB of the Income Tax Act, Which can be carried forward U/s. 115JAA to be set off against the income tax payable in the specified period was considered as an asset and recognized in the financial statements as per Guidance Note on "Accounting for credit available in respect of Minimum Alternative Tax under the Income Tax Act, 1961" issued by the ICAI.

5. The previous year''s figures have been reworked / regrouped / rearranged / reclassified wherever necessary.

6. Balances under sundry debtors, sundry creditors, deposits, loans and advances payable / receivable are subject to confirmation and reconciliation.

7. The figures have been rounded off to the nearest rupee


Mar 31, 2014

1. Disclosure pursuant to Note no. 6(A)(e) of Part I of Schedule VI to the Companies Act, 1956

The rights, preferences and restrictions attaching to each class of shares including restrictions on the distribution of dividends and the repayment of capital;

a) The Company has only one class of shares referred to as equity shares having a par value of Rs.2/-. Each holder of equity shares is entitled to one vote per share

b) The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

c) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. CONTINGENT LIABILITIES

Year Ended Year Ended Particulars 31-03-2014 31-03-2013

a) Letters of credit - - b) Bank Guarantees:

1) Performance Guarantees 642,030,708 483,003,526

2) Advance payment Guarantees 2,565,274,800 2,154,521,147

3) Guarantee in lieu of EMD/Security Deposit 75,610,496 53,327,578

4) Guarantee for Materials 17,419,600 4,007,000

c) Liabilities disputed and not provided for:

Excise Duty - Under Appeal 12,395,319 -

3. SEGMENT REPORTING:

As the Company''s business activities falls within single segment viz., Microwave Products the disclosure requirement of Accounting Standard 17 "Segment Reporting" issued by the Institute of Chartered Accountants of India is not applicable.

4. Disclosure under Micro, Small and Medium Enterprises Development Act, 2006:

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

5. The previous year''s figures have been reworked / regrouped / rearranged / reclassified wherever necessary.

Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.

6. Balances under sundry debtors, sundry creditors, deposits, loans and advances payable / receivable are subject to confirmation and reconciliation.


Mar 31, 2013

1.1 CONTINGENT LIABILITIES

Particulars Year Ended Year Ended Particulars 31-03-2013 31-03-2012

Foreign letter of credit 6,675,900 Guarantees to Banks

1) Performance Guarantees 483,003,526 263,962,305

2) Advance payment Guarantees 2,154,521,147 770,886,716

3) Guarantee in lieu of EMD / Security Deposit 53,327,578 40,176,400

4) Guarantee for Materials 4,007,000 4,087,000

1.2 SEGMENT REPORTING

As the Company''s business activities falls within single segment viz., Microwave Products the disclosure requirement of Accounting Standard 17 ''Segment Reporting'' issued by the Institute of Chartered Accountants of India is not applicable.

1.3 Disclosure under Micro, Small and Medium Enterprises Development Act, 2006:

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

1.4 The previous year''s figures have been reworked / regrouped / rearranged / reclassifed, where ever necessary. Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.

1.5 Balances under sundry debtors, sundry creditors, deposits, loans and advances payable / receivable are subject to confirmation and reconciliation.


Mar 31, 2012

The rights, preferences and restrictions attaching to each class of shares including restrictions on the distribution of dividends and the repayment of capital;

a) The Company has only one class of shares referred to as equity shares having a par value of Rs.2/-. Each holder of equity shares is entitled to one vote per share.

b) The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

c) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

1.2 CONTINGENT LIABILITIES

Particulars Year Ended Year Ended 31-03-2012 31-03-2011 Foreign letter of credit 66.76 91.89

Guarantees to Banks

1. Performance Guarantees 2639.62 1,692.01

2. Advance payment Guarantees 7708.87 8,489.46

3. Guarantee in lieu of EMD/Security Deposit 401.76 461.41

4. Guarantee for Materials 40.87 2.00

5. Corporate Guarantee on behalf of Subsidiary Company for loans taken from banks NIL 471.00

1.2 SEGMENT REPORTING

As the Company's business activities falls within single segment viz., Microwave Products the disclosure requirement of Accounting Standard 17 "Segment Reporting" issued by the Institute of Chartered Accountants of India is not applicable.

1.3 Disclosure under Micro, Small and Medium Enterprises Development Act, 2006:

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

1.4 The previous year's figures have been reworked / regrouped / rearranged / reclassified, where ever necessary. Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.

1.5 Balances under sundry debtors, sundry creditors, deposits, loans and advances payable / receivable are subject to confirmation and reconciliation.

 
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