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Notes to Accounts of Deccan Bearings Ltd.

Mar 31, 2015

NOTE NO. 1

RELATED PARTIES DISCLOSURES :

1] Relationship:

(a) Associates:

Deccan Bearings Marketing Pvt. Limited

(b) Key management personnel Kiran N. Vora, Managing Director B. W. Chrisitan, Director

(c) Relatives:

Malini M. Vora Mukesh N. Vora (HUF)

Nirupa M. Vora Nirupa M. Vora (HUF)

SEGMENT REPORTING:

The Company is engaged in the business of Bearings, which as per Accounting Standard AS-17, On Segment Reporting issued by The Institute of Chartered Accountant of India is considered to be the only reportable business segment, the Company is operating in the same geographical segment. Therefore Segment wise reporting is not applicable.

NOTE NO. 2

EARNINGS PER SHARE:

Basic and diluted earning per share has been calculated by dividing net profit available for appropriation for the year by 21,83,334 equity shares of nominal value of Rs. 10/- each, outstanding as on 31 March, 2015

NOTE NO. 3

The Company has not received any intimation from 'suppliers' regarding their status under The Micro, Small and Medium Enterprises Development Act 2006, and hence the Disclosure, if any relating to the amount unpaid as at the year end together with interest paid/payable as required under the said Act have not been given.

NOTE NO. 4

Land at Halol was acquired on lease from Gujarat Industrial Development Corporation.

NOTE NO. 5

Figures of the Previous Year have been regrouped/ recasted wherever necessary to correspond with the current years' classification/disclosure.


Mar 31, 2014

NOTE NO.1

SEGMENT REPORTING:

The Company is engaged in the business of Bearings, which as per Accounting Standard AS-17, On Segment Reporting issued by The Institute of Chartered Accountant of India is considered to be the only reportable business segment, the Company is operating in the same geographical segment. Therefore Segment wise reporting is not applicable.

NOTE NO.2

The Company has not received any intimation from ''suppliers'' regarding their status under The Micro, Small and Medium Enterprises Development Act 2006, and hence the Disclosure, if any relating to the amount unpaid as at the year end together with interest paid/payable as required under the said Act have not been given.

NOTE NO.3

Land at Halol was acquired on lease from Gujarat Industrial Development Corporation.

NOTE NO.4

Figures of the Previous Year have been regrouped/ recasted wherever necessary to correspond with the current years'' classification/disclosure.


Mar 31, 2013

NOTE NO.1

SEGMENT REPORTING:

The Company is engaged in the business of Bearings, which as per Accounting Standard AS-17, On Segment Reporting issued by The Institute of Chartered Accountant of India is considered to be the only reportable business segment, the Company is operating in the same geographical segment. Therefore Segment wise reporting is not applicable.

NOTE N0.2

EARNINGS PER SHARE:

Basic and diluted earnings per share has been calculated by dividing net profit available for appropriation for the year by 21,83,334 equity shares of nominal value of Rs. 10/- each, outstanding as on 31 March, 2013

NOTE NO.3

The Company has not received any intimation from ''suppliers'' regarding their status under The Micro, Small and Medium Enterprises Development Act 2006, and hence the Disclosure, if any relating to the amount unpaid as at the yearend together with interest paid/payable as required under the said Act have not been given.

NOTE NO.4

Land at Halol was acquired on lease from Gujarat Industrial Development Corporation. .

NOTE NO.5

Figures of the Previous Year have been regrouped/ recanted wherever necessary to correspond with the current years classification/disclosure.


Mar 31, 2012

NOTE N0.1

Auditors' Remuneration and expenses charged to the accounts:

2011 2012 2010 2011 Rs. Rs. Audit Fees 30,000 30,000 Tax Audit Fees 25,000 20,000 Others 57,360 43,755

NOTE NO.2

EXPENDITURE IN FOREIGN CURRENCY:

Traveling expenses Rs. 2,30,034/ ( Rs. 2,12,456 }

Imports

(Raw Materials on C.I.F.) Rs. 29,95,597/ ( Rs. 20,44,664 )

(Trading Goods on C.I.F.) Rs.1,77,53,757/ ( Rs. 26,39,465 )

NOTE NO.3

EARNINGS IN FOREIGN EXCHANGE:

Export of Goods(F.O.B) Rs. 15,16,575/ (Rs. 93,03,531 )

NOTE NO.4

RELATED PARTIES DISCLOSUERS :

1] Relationship :

(a) Associates:

Deccan Bearings Marketing Pvt. Limited

(b) Key management personnel Kiran N. Vora, Managing Director B. W. Chrisitan, Director

(c) Relatives:

Malini M. Vora Mukesh N. Vora (HUF)

Nirupa M. Vora NirupaM. Vora(HUF)

2] Transactions with Related parties

amount in Rupees):

PARTICULARS ASSOCIATES KEY MANAGEMENT PERSONNEL RELATIVES 2011-2012 2010-2011 2011-2012 2010-2011 2011-2012 2010-2011 LOANS 9,41,062/ 9,41,062/ 17,35,000/ 17,35,000/ REMUNA RATION 9,52,504/ 9,52,504/ PERQUI SITES 1,84,675/ 1,85,290/ CONTRI BUTION TO PROVIDEND FUND 12,888/ 12,888/ TOTAL REMUNATION 11,50,067/ 11,50,682/



NOTE N0.5

SEGMENT REPORTING:

The Company is engaged in the business of Bearings, which as per Accounting Standard AS 17, On Segment Reporting issued by The Institute of Chartered Accountant of India is considered to be the oniy reportable business segment, the Company is operating in the same geographical segment. Therefore Segment wise reporting is not applicable.

NOTE N0.6

EARNINGS PER SHARE:

Basic and diluted earning per share has been calculated by dividing net profit available for appropriation for the year by 21,83,334 equity shares of nominal value of Rs. 10/ each, outstanding as on 31 March, 2012 2011 12 Amount Rs. 2010 11 Amount Rs. Profit/ (Loss) available to equity shareholders (1,59,213) 1,39,104 Weighted average no. of equity share for basic EPS 21,83,334 21.83,334 Nominal value of equity shares Rs.10 Rs.10 Earning Per Share (Basic/Diluted) 0.07 0.06

NOTE NO.7

The Company has not received any intimation from 'suppliers' regarding their status under The Micro, Small and Medium Enterprises Development Act 2006, and hence the Disclosure, if any relating to the amount unpaid as at the year end together with interest paid/payable as required under the said Act have not been given.

NOTE NO.8

Land at Halol was acquired on lease from Gujarat industrial Development Corporation.

NOTE NO.9

The Financial Statements for the year ended 31st March 2011 had been prepared as per the then applicabie, pre revised Schedule VI to the Companies Act, 1956. Consequent to the notification under the Companies Act, 1956 the Financial Statements for the year ended 31st March 2012 are prepared under revised Schedule VI. Accordingly the previous year figures have also been reclassified to confirm to this year's classification.


Mar 31, 2010

1] Land at Halol was acquired on lease from Gujarat Industrial Development Corporation.

2] EARNINGS IN FOREIGN EXCHANGE:

- Export of Goods(F.O.B) Rs. 1,69,36,633 /- (Rs. 1,78,26,081/-)

3] Information pursuant to the provisions of Part II of Schedule VI of the Companies Act, 1956 has been furnished to the extent applicable.

4] SEGMENT REPORTING:

The Company is engaged in the business of Bearings, which as per Accounting Standard AS-17, On Segment Reporting issued by The Institute of Chartered Accountant of India is considered to be the only reportable business segment, the Company is operating in the same geographical segment. Therefore Segment wise reporting is not applicable.

5] Figures of the Previous Year have been regrouped/ recasted wherever necessary.

 
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