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Notes to Accounts of Concord Drugs Ltd.

Mar 31, 2015

1. Contingent Liabilities and Commitments - NIL-

2. Value of Imports and Exports:

Imports on CIF Basis: NIL Expenditure in foreign currency: NIL Earnings in foreign exchange

3. Balances under trade receivable and trade payables are subjected to confirmation and reconciliation from respective parties and the classification / grouping of the parties under sundry debtors and creditors are as per the management representation. Grouping of parties are effected the extent of value of sundry debtors and creditors in the financials.

4. Segment Reporting

There are no separate reportable segments (business and/or geographical) in accordance with the requirements of Accounting Standard 17 - 'Segment Reporting' issued by the Institute of Chartered Accountants of India as the company operates only in the areas of Pharmaciticals formulations only.

Previous year figures have been regrouped wherever if thought necessary in conformity with the current year groupings. Paise have been rounded off to the nearest rupee.Notes on financial statements, Cash Flow Statement and statement on accounting policies form an integral part of the balance sheet and profit and loss statement.


Mar 31, 2014

1. Contingent Liabilities: Nil

2. The Company has provided benefits to the employees during the year as per the management estimates in the books of accounts. The company has not created any provision for gratuity in its books and the company does not take any registration for E.S.I. deposits.

3. Secured Loans:

Term Loan & Cash Credit (Hypothecation) taken from State Bank Of India, Hyderabad are Secured by equitable mortgage of immovable property i.e. Factory, Land & Building situated at Hyderabad and Hypothecation of Machinery, Vehicles, other assets, raw materials, semi finished goods, finished goods and book debts.

4. In view of insufficient information from suppliers regarding their status as SSI Units, amount due to such undertakings could not be ascertained.

5. Balance of Debtors, Creditors, Advances and Loans etc., are subject to confirmations and reconciliations.

6. Particulars of Remuneration paid to Auditors

Statutory Audit fees: Rs.2,50,000/- (previous Year Rs.2, 50,000)

7. Directors remuneration: Rs.18,00,000/- (Previous year Rs.18,00,000/-)

8. Segmental Reporting:

The Company''s operations relate to formulation of drugs. As the Company operates only in one segment as such reporting is done on a single segment basis.

9. Quantitative details & stock, WIP, production and finished goods are not available.

10. The previous years have been reworked, regrouped, rearranged and reclassified wherever necessary. Accordingly, 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.


Mar 31, 2013

1. Contingent Liabilities:

Outstanding Bank Guarantees: Nil

There are no claims outstanding against company as on 31.03.2013.

2. The Company has provided benefits to the employees during the year as per the management estimates in the books of accounts. The company has not created any provision for gratuity in its books and the company does not take any registration for E.S.I. deposits.

3. Secured Loans:

Term Loan & Cash Credit (Hypothecation) taken from State Bank Of India, Hyderabad are Secured by equitable mortgage of immovable property i.e. Factory, Land & Building situated at Hyderabad and Hypothecation of Machinery, Vehicles, other assets, raw materials, semi finished goods, finished goods and book debts.

4. In view of insufficient information from suppliers regarding their status as SSI Units, amount due to such undertakings could not be ascertained.

5. Balance of Debtors, Creditors, Advances and Loans etc., are subject to confirmations and reconciliations.

6. Particulars of Remuneration paid to Auditors

Statutory Audit fees: Rs. 2,52,361/- (previous Year Rs. 2,24,600)

7. Directors remuneration: Rs. 18,00,000/- (Previous year Rs. 18,00,000/-)

8. Segmental Reporting:

The Company''s operations relate to formulation of drugs. As the Company operates only in one segment as such reporting is done on a single segment basis.

9. Quantitative details & stock, WIP, production and finished goods are not available.

10. The previous years have been reworked, regrouped, rearranged and reclassified wherever necessary. Accordingly, 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.


Mar 31, 2012

A. Contingent Liabilities:

Outstanding Bank Guarantees: Nil

There are no claims outstanding against company as on 31.03.2012.

b. The Company has provided benefits to the employees during the year as per the management estimates in the books of accounts. The company has not created any provision for gratuity in its books and the company does not take any registration for E.S.I. deposits.

c. Secured Loans:

Term Loan & Cash Credit (Hypothecation) taken from State Bank Of India, Hyderabad are Secured by equitable mortgage of immovable property i.e. Factory, Land & Building situated at Hyderabad and Hypothecation of Machinery, Vehicles, other assets, raw materials, semi finished goods, finished goods and book debts.

d. In view of insufficient information from suppliers regarding their status as SSI Units, amount due to such undertakings could not be ascertained.

e. Balance of Debtors, Creditors, Advances and Loans etc., are subject to confirmations and reconciliations.

f. Particulars of Remuneration paid to Auditors

Statutory Audit fees: Rs.2,24,600/- (previous Year Rs.2,20,600)

g. Directors remuneration: Rs.18,00,000/- (Previous year

Rs.18,00,000/-)

h. List of related parties where control exists and related parties with whom transactions have taken place and relationships

S.No. Name of the related party Relationship

1. S.Nagi Reddy Key Managerial Personnel

2. N.Lakshmana Reddy Director

i. Segmental Reporting:

The Company's operations relate to formulation of drugs. As the Company operates only in one segment as such reporting is done on a single segment basis.

j. Foreign Currency/Exchange Transactions

a. Value of imports Rs. Nil

b. Value of exports Rs. Nil

c. Expenditure in foreign currency Rs. Nil

k. Preliminary expenses to be written off over a period of ten years commencing of operations.

l. The previous years have been reworked, regrouped, rearranged and reclassified wherever necessary. Accordingly, 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 disclosur


Mar 31, 2011

1. Contingent Liabilities:

Outstanding Bank Guarantees: Nil

There are no claims outstanding against company as on 31.03.2011.

2. The Company has provided benefits to the employees during the year as per the management estimates in the books of accounts.

3. Secured Loans:

Term Loan & Cash Credit (Hypothecation) taken from Punjab National Bank, Civil Lines, Roorkee are Secured by equitable mortgage of immovable property i.e. Factory, Land & Building situated at Roorkee and Hypothecation of Machinery, Vehicles, other assets, raw materials, semi finished goods, finished goods and book debts.

4. In view of insufficient information from suppliers regarding their status as SSI Units, amount due to such undertakings could not be ascertained.

5. Balance of Debtors, Creditors, Advances and Loans etc., are subject to confirmations and reconciliations.

6. Particulars of Remuneration paid to Auditors

Statutory Audit fees: Rs.2,20,600 p.a. (previous Year Rs.110,300)

7. Directors remuneration: Rs.18,00,000 p.a. (Previous year Rs.4,80,000)

8. Segmental Reporting:

The Company''s operations relate to formulation of drugs. As the Company operates only in one segment as such reporting is done on a single segment basis.

9. Preliminary expenses to be written off over a period of ten years commencing of operations.

10. The previous years have been reworked, regrouped, rearranged and reclassified wherever necessary. Accordingly, 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.

 
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