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Notes to Accounts of Bajaj Corp Ltd.

Mar 31, 2016

1 CORPORATE INFORMATION:

Bajaj Corp Limited (the Company) is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on two stock exchanges in India. The Company is engaged in the business of hair oils and other cosmetics products. The Company has presence in both domestic and international markets.

2. Segment Reporting

As the company''s business activity falls within a single segment viz. "Cosmetics, Toileteries & Other Personal Care Products" & the sales substantially being in the domestic market, the disclosure requirements of the Accounting Standard (AS) 17 " Segment Reporting" as as notified under section 133 of the Companies Act 2013, read together with rule 7 of the Companies (Accounts) Rules, 2014 are not applicable. However it does not have any impact on the true and fair view of the state of affairs in case of Balance Sheet and Statement of Profit and Loss.

3. Earnings per Share (EPS) computed in accordance with Accounting Standard 20 " Earning per Share" as notified under section 133 of the Companies Act 2013, read together with rule 7 of the Companies (Accounts) Rules, 2014

4. Based on information available with Company, there are no supplier registered as micro, small or medium enterprises under "The Micro, Small and Medium Enterprises Development Act, 2006" as at March 31, 2016 and March 31, 2015 and hence disclosure, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act have not been given.

5. Previous year''s figures have been regrouped/rearranged wherever necessary.


Mar 31, 2015

A.1 CORPORATE INFORMATION:

Bajaj Corp Limited (the Company) is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on two stock exchanges in India. The Company is engaged in the business of hair oils and other cosmetics products. The Company has presence in both domestic and international markets.

2. Segment Reporting

As the Company''s business activity falls within a single segment viz. "Cosmetics, Toileteries & Other Personal Care Products" & the sales substantially being in the domestic market, the disclosure requirements of the Accounting Standard (AS) 17 "Segment Reporting" as as notified under Section 133 of the Companies Act, 2013, read together with paragraph 7 of the Companies (Accounts) Rules, 2014 are not applicable. However it does not have any impact on the true and fair view of the state of affairs in case of Balance Sheet and Statement of Profit and Loss.

3. Earnings per Share (EPS) computed in accordance with Accounting Standard 20 " Earning per Share" as notified under Section 133 of the Companies Act 2013, read together with paragraph 7 of the Companies (Accounts) Rules, 2014

4. As per Accounting Standard 18 (AS-18) ''Related Party Disclosures'', as notified under Section 133 of the Companies Act, 2013, read together with paragraph 7 of the Companies (Accounts) Rules, 2014, the disclosures of transactions with the related parties as defined in AS - 18 are given below :

(i) List of related parties and relationships:

Name of the Related Party Relationship

1. Bajaj Resources Ltd. Holding company

2. Mr Kushagra Bajaj Key Management Personnel

3. Mr Sumit Malhotra Key Management Personnel

4. Mr Jimmy Anklesaria Key Management Personnel (till September 30, 2014)

5. Mr Apoorv Bajaj Key Management Personnel

6. Mrs Vasavadataa Bajaj Key Management Personnel

7. Uptown Properties & Leasing Pvt. Ltd. Subsidiary company

8. Bajaj Bangladesh Ltd. Subsidiary company

9. Bajaj Corp International (FZE) Subsidiary company

5. KNB Enterprises LLP Enterprises over which KMP having significant influence

6. SKB Roop Commercial LLP Enterprises over which KMP having significant influence

7. Kamalnayan Jamnalal Bajaj Foundation Enterprises over which KMP having significant influence

8. "Based on information available with Company, there are no supplier registered as micro, small or medium enterprises under "The Micro, Small and Medium Enterprises Development Act, 2006" as at March 31,2015 and March 31,2014 and hence disclosure, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act have not been given.

9. Previous year''s figures have been regrouped/rearranged wherever necessary.


Mar 31, 2014

A1. CORPORATE INFORMATION:

1. Bajaj Corp Limited (the Company) is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on two stock exchanges in India. The Company is engaged in the business of hair oils and other cosmetics products. The Company has presence in both domestic and international markets.

1. Segment Reporting

As the company''s business activity falls within a single segment viz. ''Cosmetics and toiletries'' and the sales substantially being in the domestic market, the disclosure requirements of the Accounting Standard (AS) 17 "Segment Reporting" as prescribed by the Companies (Accounting Standard) Rules 2006 are not applicable. However it does not have any impact on the true and fair view of the state of affairs in case of Balance Sheet and Statement of Profit and Loss.

2. Based on information available with Company, there are no supplier registered as micro, small or medium enterprises under "The Micro, Small and Medium Enterprises Development Act, 2006" as at March 31, 2014 and March 31, 2013 and hence disclosure, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act have not been given.

3. Previous year''s figures have been regrouped/rearranged wherever necessary.


Mar 31, 2012

(i) The Company on May 06, 2011 had split its equity shares from Rs 5/- each to equity shares of Rs 1/- each. Consequent to the same the issued, subscribed and paid up capital of the Company changed to 1475 Lacs equity shares of Rs 1/- each from 295 Lacs equity shares of Rs 5/- each.

(ii) Out of the total equity shares of 1475 lacs, 1250 lacs shares are hold by M/s Bajaj Resources Ltd., the holding Company.

1. Segment Reporting

As the Company's business activity falls within a single segment viz. 'Cosmetics and toiletries' and the sales substantially being in the domestic market, the disclosure requirements of the Accounting Standard (AS) 17 "Segment Reporting" as prescribed by the Companies (Accounting Standard) Rules 2006 are not applicable. However it does not have any impact on the true and fair view of the state of affairs in case of Balance Sheet and Profit and Loss Account.

2. Trade creditors include dues to Small Industrial Undertaking. There are no Small Scale Industrial Undertaking to whom an amount of Rs One Lac or more was payable and outstanding for more than 30 days.

3. Previous year's figures have been regrouped/rearranged wherever necessary.


Mar 31, 2011

I. Contingent Liabilities

Disputed liabilities and claims against the company including claims raised by fiscal authorities (e.g. Sales Tax, Income Tax, etc.), pending in appeal/court for which no reliable estimate can be made of the amount of the obligation or which are remotely poised for crystallization are not provided for in accounts but disclosed in notes to accounts.

However, present obligation as a result of past event with possibility of outflow of resources, when reliably estimable is recognized in accounts. There is no contingent liability against the company.

II. Retirement Benefit

(a) Gratuity: The Company has taken Employee Group Gratuity-Cum-Life Assurance Policy of L.I.C. of India for covering accruing liability and the premium paid/payable on such policy is charged to Profit & Loss Account.

(b) Superannuation: Contribution to Superannuation fund is being made to LIC as per scheme of the Company.

(c) Provident Fund: Employees own and Employers Contribution are paid to the Government Provident Fund Authority.

(d) Employee Pension Scheme: Contribution to Employees Pension Scheme, 1995 is made to the Government Provident Fund Authority.

III. Foreign Currency Transaction

Transactions in foreign currency are recorded at exchange rate prevailing on the date of the transaction. Exchange rate differences resulting from foreign exchange transactions settled during the period, are recognized in the Profit and Loss Account.

IV. Income Tax And Deferred Taxation

The liability of company on account of Income Tax is estimated considering the provisions of the Income Tax Act, 1961. Deferred tax is recognised, subject to the consideration of prudence, on timing differences being the difference between taxable income and accounting income that originate in one year and capable of reversal in one or more subsequent year.

V. Segment Reporting

As the companys business activity falls within a single segment viz. Cosmetics and toiletries and the sales substantially being in the domestic market, the disclosure requirements of the Accounting Standard (AS) 17 "Segment Reporting" as prescribed by the Companies (Accounting Standard) Rules, 2006 are not applicable. However it does not have any impact on the true and fair view of the state of affairs in case of Balance Sheet and Profit and Loss Account.

VI. Initial Public Offer (IPO) & Change In Share Capital

Company came up with its IPO in August 2010 and listed its securities on NSE & BSE on August 18, 2010. Company issued 45 lacs fully paid up equity shares of face value of Rs. 5/- each at a premium of Rs. 655/- thereby raising a total fund of Rs. 29,700 lacs.

After IPO the total issued, subscribed and paid up capital changed to 295 lacs equity shares of Rs. 5/- each from 250 lacs equity shares of Rs. 5/- each

VII. As per Accounting Standard 18 (AS-18) Related Party Disclosures, prescribed by the Companies (Accounting Standard) Rules, 2006, the disclosures of transactions with the related parties as defned in AS-18 are given below:

(i) List of related parties and relationships:

Name of the Related Party Relationship

1. Bajaj Consumer Care Ltd. Holding company

2. Mr Kushagra Bajaj Key Management Personnel

3. Mr Roshan Fateh Lal Hinger Key Management Personnel

4. Mr Sumit Malhotra Key Management Personnel

5. Mr Apoorv Bajaj Key Management Personnel

6. Bajaj Infrastructure Development Company Ltd. Associates

7. Bajaj Hindusthan Ltd. Associates

VIII. Trade creditors include dues to Small Industrial Undertaking. There are no Small Scale Industrial Undertaking to whom an amount of Rs. One Lac or more was payable and outstanding for more than 30 days.

IX. Previous years figures have been regrouped/rearranged wherever necessary.


Mar 31, 2010

A. SEGMENT REPORTING

As the companys business activity falls within a single segment viz. Cosmetics and toiletries and the sales substantially being in the domestic market, the disclosure requirements of the Accounting Standard (AS) 17 " Segment Reporting" as prescribed by the Companies (Accounting Standard) Rules 2006 are not applicable. However it does not have any impact on the true and fair view of the state of affairs in case of Balance Sheet and Profit and Loss Account.

B. CHANGE IN SHARE CAPITAL

1. The Company on November 03, 2009 had split its equity shares from Rs. 10/- each to equity shares of Re. 1/- each and had issued bonus shares in the ratio of 1:1. Consequent to the same the issued, subscribed and paid up capital of the company changed to 10 Crore equity shares of Re 1/- each.

2. On January 22, 2010 the Company consolidated the face value of equity shares from Re 1/- each to equity shares of Rs. 21- each. Consequent to the same the issued, subscribed and paid up capital of the company changed to 5 Crore equity shares of Rs. 21- each.

3. On February 22, 2010, all equity shares of face value of Rs. 21- each were consolidated into equity shares of Rs. 5/- each thereby decreasing the total number of issued, subscribed and paid up equity shares from 5 Crore equity shares to 2 Crore equity shares of Rs 5/- each. Further, on the allotment of the Bonus Shares in the ratio of 1:4. the total issued, subscribed and paid up capital changed to 2.50 Crores equity shares of Rs. 5/- each.

C. As per Accounting Standard 18 (AS-18) Related Party Disclosures, prescribed by the Companies(Accounting Standard) Rules, 2006 , the disclosures of transactions with the related parties as defined in AS-18 are given below :

(i) List of related parties and relationships:

Name of the Related Party Relationship

1. Bajaj Consumer Care Ltd. Holding company

2. Mr Kushagra N Bajaj Key Management Personnel

3. Mr Roshan F Hinger Key Management Personnel

4. Mr Divyaroop Bhatnagar Key Management Personnel (upto 30.04.09)

5. Mr Sumit Malhotra Key Management Personnel

6. Mr Apoorv Bajaj Key Management Personnel (w.e.f 05.11.09)

D. Trade creditors include dues to Small Industrial Undertaking. There are no Small Scale Industrial Undertaking to whom an amount of Rs. One Lac or more was payable and outstanding for more than 30 days.

E. Previous years figures have been regrouped/rearranged wherever necessary.


Mar 31, 2009

A As per Accounting Standard 18 (AS-18) Related Party Disclosures, issued by ICAI, the disclosures of transactions with the related parties as defined in AS-18 are given below:

(i) List of related parties and relationships:

Name of the Related Party Relationship

1. Bajaj Sevashram Pvt Ltd. Holding company (Upto Dec 31,2008)

2. Bajaj Consumer Care Ltd. Holding company

3. Mr Kushagra N Bajaj Key Management Personnel

4. Mr Roshan F Hinger Key Management Personnel

5. Mr Divyaroop Bhatnagar Key Management Personnel

6. MrSumitMalhotra Key Management Personnel

B. Trade creditors include dues to Small Industrial Undertaking. There are no Small Scale Industrial Undertaking to whom an amount of Rs. One Lac or more was payable and outstanding for more than 30 days.

C. Previous years figures have been regrouped/rearranged wherever necessary.

 
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