Home  »  Company  »  Compuage Infocom Ltd  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Compuage Infocom Ltd.

Mar 31, 2015

1. Corporate Information

Compuage Infocom Limited (The Company) is a public Limited company domiciled in India and incorporated under the provisions of the Companies Act,1956. It's shares are listed on the Mumbai Stock exchange and Madras Stock Exchange.

The company is engaged in trading in Computer parts and peripherals and Telecom Products. The company also provides products support services for Information Technology products.

2. Terms/Rights attached to equity shares

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

The Final Dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. During the year ended 31st March,2015, the amount of per share final dividend proposed as distribution to the equity shareholders is Rs.2/- (31st March 2014 : Rs. 1.40)

In the event of liquidation of the company, the holder of equity shares will be entitled to receive remaining assets of the company,after distribution of all preferential amounts.The distribution will be in proportion to the number of equity shares held by shareholders.

As per records of the company,including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest,the above shareholding represents both legal and beneficial ownerships of shares.

Indian rupee loan from bank carries interest @ 12.95% to 13.25% p.a.The loan is repayable in 20 equal quarterly installments commencing from September 2011 in the case of one term loan and March 2012 in the case of other 2 term loans. Interest is to be paid as and when debited, i.e on a monthly basis. All three term loans are secured by hypothecation of Office premises.Further the loans have been guaranteed by the personal Guarantee of the manag- ing Director and by whole time director of the company.


Mar 31, 2014

Note 1: Corporate Information

Compuage Infocom Limited (The Company) is a public Limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956. It''s shares are listed on the Mumbai Stock exchange and Madras Stock Exchange.

The company is engaged in trading in Computer parts and peripherals and Telecom Products. The company also provides products support services for Information Technology products.

Related Party Information: A. Directors & their relatives:

(Related to Interest on Loans given to the Company Etc.)

Sr. No. Name Relationship

1. Atul H. Mehta Chairman and Managing Director

2. Aditya A. Mehta Newphew of Atul H. Mehta

3. Ajay H. Mehta Brother of Atul H. Mehta

4. Ajay H. Mehta HUF HUF of Brother of Atul H. Mehta

5. Atul H. Mehta HUF HUF of Chairman and Managing Direct!

6. Bhavesh H. Mehta Whole time Director

7. Falguni A. Mehta Wife of Atul A. Mehta

8. Forum B. Mehta Wife of Bhavesh H. Mehta

9. H. T. Mehta HUF HUF of father of Atul H. Mehta

10. Karishma A. Mehta Daughter of Atul H. Mehta

11. Manisha A. Mehta Sister-in-law of Atul H. Mehta

12. Raahil B. Mehta Son of Bhavesh H. Mehta

13. Vanita H. Mehta Mother of Atul H. Mehta

14. Yash A. Mehta Son of Atul H. Mehta

B. Other Related parties: (Enterprises significantly influenced by key management personnel).

1) Trillizo Holdings Limited

2) Greenvision Technologies Pvt. Ltd. (Upto 30th Sept. 2013)

3) Compuage Infocom (S) PTE. Ltd.

Segment reporting:

The Company is in the business of Distribution of Computer parts and peripherals in India having similar risks and rewards and therefore there is only one geographical and business segment.

Earning Per Share.

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting preference dividends and attributable taxes) by the weighted average number of equity share outstanding during the period.

For the purpose of calculating Diluted Earning per share, the net profit or loss for the period attributable to equity share holders and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential equity shares.

Measurement of EBITDA:

As permitted by the Guidance Note on the revised Schedule VI to the companies Act, 1956, the company has elected to present earnings before interest, tax, depreciation and amortization (EBITDA) as a separate line item on the face of the statement of profit and loss. The company measures EBITDA on the basis of profits/ loss from the continuing operations. In its measurement, the company does not include depreciation and amortization expenses, finance cost and tax expenses.

Contingent Liabilities :

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the control of the Company or a present obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably.

31 st March 2014 31st March 2013

Guarantees given by the Banks on 5520.10 5000.00 behalf of the Company

Corporate Guarantee given on behalf of Subsidiary 299.55 271.43

Disputed demands in respect of VAT/Custom Duty 182.80 125.81

(Based on legal opinion, the Company does not feel any liability will arise and hence no provision has been made in the accounts.)

Terms/Rights attached to equity shares

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

The Final Dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. During the year ended 31st March,2014, the amount of per share final dividend proposed as distribution to the equity shareholders is Rs. 1.4 (31st March 2013 : Rs. 1)

In the event of liquidation of the company, the holder of equity shares will be entitled to receive remaining assets of the company,after distribution of all preferential amounts.The distribution will be in proportion to the number of equity shares held by shareholders.


Mar 31, 2013

Note 1: Corporate Information

Compuage Infocom Limited (The Company) is a public Limited company domiciled in India and incorporated under the provisions of the Companies Act,1956. It''s shares are listed on the Bombay Stock Exchange & Madras Stock Exchange Ltd.

The company is engaged in trading in Computer parts and peripherals and Telecom Products. The company also provides products support services for Information Technology products.


Mar 31, 2012

Note 1: Corporate Information

Compuage Infocom Limited (The Company) is a public Limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956. It's shares are listed on the Mumbai stock exchange.

The company is engaged in trading in Computer parts and peripherals and Telecom Products. The company also provides products support services for Information Technology products.

Terms/Rights attached to equity shares

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

During the year ended 31 st March 2012, Interim Dividend of Rs. 1 per Share has been distributed to Equity Share holders and final Dividend of Rs.1/= per share has been proposed by the Board of Directors is subject to approval of share holders in the ensuing Annual General meeting.

In the event of liquidation of the company, the holder of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by shareholders.

Indian rupee loan from bank carries interest @ 13.25% p.a. The loan is repayable in 20 equal quarterly installments commencing from September 2011 in the case of one term loan and March 2012 in the case of other 2 term loans. Interest is to be paid as and when debited, i.e on a monthly basis. All three term loans are secured by hypothecation of Office premises. Further the loans have been guaranteed by the personal Guarantee of the managing Director and by whole time director of the company.

Finance Lease is secured by hypothecation of vehicle taken on lease.

Note:

The Company has been granted exemption by the Ministry of Corporate Affairs from attaching to its Balance sheet, the Individual Annual Reports of its subsidiary Companies vide its. General Circular No: 2 /2011 and General Circular No: 3/2011 dated Feb 8, 2011 and Feb 21, 2011 respectively. As per the terms of the Circular, a statement containing the brief financial details of the Companies Subsidiaries for the year ended March 31, 2012 is included in the Annual Report. The annual accounts of these subsidiaries and the related detailed information will be made available to any member of the Company/its subsidiaries seeking such information at any point of time and are also available for inspection by any member of the Company/its subsidiaries at the registered office of the Company. The annual accounts of the said subsidiaries will also be available for inspection, as above, at the Registered Offices of the respective subsidiary Companies.


Mar 31, 2011

1. Confirmation from Debtors and Creditors are in the process of being obtained as yet.

2. There are no Micro, Small and Medium Enterprises, as defined in the Micro, Small and Medium Enterprises Development Act, 2006 to whom the company owes dues on account of principal amount together with interest and accordingly no additional disclosures have been made.

The above information regarding Micro, Small and Medium Enterprises has been determined to the extent such parties have been identified on the basis of infor- mation available with the Company. This has been relied upon by the auditors.

3. Additional information pursuant to para 4C.4D of part II of Sch VI:

3.1 Particulars of quantitative details pursuant to paragraph 3 of Part II to schedule VI of the companies Act, 1956 are not applicable due to the nature of activity [i.e. Trading] involved and the large number of computers / computer peripherals & accessories.

3.2. Valuation of Imports calculated on C.I.F. basis for the year is RS. 50876.80 Lacs. (Rs. 36285.21 Lacs).

4. Related Party Information:

A. Directors & their relatives:

(Related to Interest on Loans given to the Company Etc.)

1) AtulH.Mehta

2) Ajay H.Mehta

3) Bhavesh H.Mehta

4) Chandulal P. Mehta

5) Biju Bruno

6) Bhavesh Gandhi

7) Tarun Gandhi

B. Other Related parties:

1) Trillizo Holdings Limited

2) Active Infocom

5. The company is in the business of distribution of computer parts & peripherals in India having similar risks and rewards and therefore there is only one geographical and business segment.

6. Impairment:

The carrying amounts of assets are reviewed at each Balance Sheet date if there is any indication of impairment based on internal/external factors. An impairment loss will be recognized wherever the carrying amount of an asset exceeds its estimated recoverable amount. The recoverable amount is greater of the asset's net selling price and value in use. In assessing the value in use, the estimated future cash flows are discounted to the present value at the weighted average cost of capital. Previously recognized impairment loss, if any, is further provided or reserved depending on changes in circumstances.

7. Figures of the previous year have been regrouped wherever necessary.

 
Subscribe now to get personal finance updates in your inbox!