Mar 31, 2018
I. Corporate information:
Divyashakti Granite Limited was Incorporated on 4th June, 1991 in the state of Andhra Pradesh. The Companyâs objectives are manufacture of polished granite slabs, tiles & monuments. The Company undertook to set up a 100% Export Oriented Unit (EOU) at Narsapur Village, Medak District, Telangana State and itâs Reg. Office at 7-1-58, Divyashakti Complex, Ameerpet, Hyderabad, Telangana, Divyashakti Granites Limited, ever since its inception in 1991, has carved a niche for itself for producing world-class granite. Despite its brief presence, the company has grown into one of the Countryâs largest 100% Export Oriented Granite Processing Units in a wide spectrum of colors, textures and finish, to customers world-wide.
2 Employee benefit plans A Defined contribution plans
The Company makes Provident Fund and Employee State Insurance Scheme contributions which are defined contribution plans, for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognised Rs.6.32 lakhs (Year ended 31 March, 2017 Rs. 4.16 lakhs ) for Provident Fund contributions and Rs.3.92 lakhs (Year ended 31 March, 2017 Rs. 3.36 lakhs) for Employee State Insurance Scheme contributions in the Statement of Profit and Loss. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes.
B The Company offers the Gratuity scheme to its employees . The following table sets out the unfunded status of the Grantuity scheme and the amount recognised in the financial statements:
3.01 The Company has entered into sale agreement for the purchase of office premises at Ameerpet, Hyderabad with M/s N.V.Rattaiah& Co, at a sale price of Rs.28,42,278/- on 2nd April, 1993. The Conveyance deed has not yet been executed.
3.02 Confirmation letters have been sent in respect of sundry debtors/creditors and loans and advances. In view of all confirmations not having been received, the balances are subject to reconciliation and adjustments if any.
3.03 The Company has not received any Memorandum as required to be filed by the suppliers with the notified authority under the Micro, Small & Medium Enterprises Development Act, 2006) to claim their status as micro, small & medium enterprises. Consequently the amount paid/payable to such parties during the year is NIL.
3.04 The companyâs business during the reporting period consists of single reportable segment i.e. manufacturing and sale of Polished Granite only.Hence no separate disclosure pertaining to segment reporting as per AS 108 as issued by ICAI is made.
3.05 Deferred Tax provision has been made as per Accounting Standard No.22 of Institute of Chartered Accountants of India.
3.06 CORPORATE SOCIAL RESPONSIBILITY AND GOVERNANCE COMMITTEE
As per section 135(1) of Companies Act, 2013 the provision of Corporate Social Responsibility are applicable to the Company. The Company constituted CSR Committee and framed CSR Policy. The Company allocated an amount of Rs.29.70 lakhs to be spent during the year 2017-18 for Corporate Social Responsibility. However, the Company couldnât spend the amount earmarked for Corporate Social Responsibility. During the year 2017-18, the amount of Rs.3.20 lakhs was spent by the company towards the CSR activities in the field of Education and Environment. The Company is identifying the better areas and beneficiaries as per its approved CSR Policy.
3.07 Figures in the Balance Sheet and Statement of Profit and Loss have been rounded off to the nearest rupee.
3.08 Previous year figures have been regrouped and reclassified wherever necessary.
3.09. Schedules 1.01 to 1.13, 2.01 to 2.13 and 3.01 to 3.15 form part of Balance Sheet and Statement of Profit and Loss and have been authenticated.
Mar 31, 2015
1. Corporate information:
Divyashakti Granite Limited was Incorporated on 4th June, 1991 in the
state of Andhra Pradesh. The Company's objectives are manufacture of
polished granite slabs, tiles & monuments. The Company undertook to set
up a 100% Export Oriented Unit (EOU) at Narsapur Village, Medak
District, Andhra Pradesh and it's Reg. Office at 7-1-58, Divyashakti
Complex, Ameerpet, Hyderabad, Andhra Pradesh, Divyashakti Granites
Limited, ever since its inception in 1991, has carved a niche for
itself for producing world-class granite. Despite its brief presence,
the company has grown into one of the Country's largest 100% Export
Oriented Granite Processing Units in a wide spectrum of colors,
textures and finish, to customers world-wide.
2. Terms/rights attached to equity shares:
The Company has only one class of equity share having par value of
Rs.10 per share. Each holder of equity shares is entitled to one vote
per share. The company declares and pays dividends in Indian rupees.
The dividend proposed by the Board of Directors is subject to the
approval of the share holders in the ensuing Annual General Meeting. In
the event of liquidation of the compnay, the holders of equity shares
will be entitled to receive remaining assets of the company, after
distrubution of all preferential amounts. The distrubution will be in
proportionate to the paid up share capital held by the shareholders.
3. EMPLOYEE BENEFIT PLANS A Defined contribution plans
The Company makes Provident Fund and Employee State Insurance Scheme
contributions which are defined contribution plans, for qualifying
employees. Under the Schemes, the Company is required to contribute a
specified percentage of the payroll costs to fund the benefits. The
Company recognised Rs.1.78 lakhs (Year ended 31 March, 2013 Rs. 1.52
lakhs ) for Provident Fund contributions and Rs.1.76 lakhs (Year ended
31 March, 2013 Rs. 1.80 lakhs) for Employee State Insurance Scheme
contributions in the Statement of Profit and Loss. The contributions
payable to these plans by the Company are at rates specified in the
rules of the schemes.
4. Contingent Liabilities
Rs. in lakhs.
Sl. Particulars 2014-15 2013-14
No.
i Foreign Letters of Credit opened in
favour of Suppliers for which goods
are yet to be received. 262.51 69.01
ii Guarantees given by Bank (BG) 4.75 4.75
5. The Company has entered into sale agreement for the purchase of
office premises at Ameerpet, Hyderabad with M/s N.V.Rattaiah & Co, at a
sale price of Rs.28,42,278/- on 2nd April, 1993. The Conveyance deed
has not yet been executed.
6. Confirmation letters have been sent in respect of sundry
debtors/creditors and loans and advances. In view of all confirmations
not having been received, the balances are subject to reconciliation
and adjustments if any.
7. The Company has not received any Memorandum as required to be
filed by the suppliers with the notified authority under the Micro,
Small & Medium Enterprises Development Act, 2006) to claim their status
as micro, small & medium enterprises. Consequently the amount
paid/payable to such parties during the year is NIL.
8. The company's business during the reporting period consists of
single reportable segment i.e. manufacturing and sale of Polished
Granite only. Hence no separate disclosure pertaining to segment
reporting as per AS l7 as issued by ICAI is made.
9. Deferred Tax provision has been made as per Accounting Standard
No.22 of Institute of Chartered Accountants of India.
10. CORPORATE SOCIAL RESPONSIBILITY AND GOVERNANCE COMMITTEE
As per section 135(1) of Companies Act, 2013 the provision of Corporate
Social Responsibility are applicable to the Company. The Company
constituted CSR Committee and framed CSR Policy. The Company has to be
spent an amount of Rs.25.08 lakhs towards Corporate Social
Responsibility. However, the Company could not spend the above amount
since the company was unable to identify the projects as per its
approved CSR policy.
11.Figures in the Balance Sheet and Statement of Profit and Loss have
been rounded off to the nearest rupee.
12. Previous year figures have been regrouped and reclassified
wherever necessary.
13. Schedules 1.01 to 1.13, 2.01 to 2.11 and 3.01 to 3.14 form part
of Balance Sheet and Statement of Profit and Loss and have been
authenticated.
Mar 31, 2014
1. Corporate information:
Divyashakti Granite Limited was Incorporated on 4th June, 1991 in the
state of Andhra Pradesh. The Company''s objectives are manufacture of
polished granite slabs, tiles & monuments. The Company undertook to set
up a 100% Export Oriented Unit (EOU) at Narsapur Village, Medak
District, Andhra Pradesh and it''s Reg. Office at 7-1-58, Divyashakti
Complex, Ameerpet, Hyderabad, Andhra Pradesh, Divyashakti Granites
Limited, ever since its inception in 1991, has carved a niche for
itself for producing world-class granite. Despite its brief presence,
the company has grown into one of the Country''s largest 100% Export
Oriented Granite Processing Units in a wide spectrum of colors,
textures and finish, to customers world-wide.
2.01 Contingent Liabilities.
Rs. in lakhs.
Sl. Particulars 2013-14 2012-13
No.
i Foreign Letters of Credit opened in 69.01 528.88
favour of Suppliers for which goods
are yet to be received.
ii Guarantees given by Bank (BG) 4.75 4.75
2.02 The Company has entered into sale agreement for the purchase of
office premises at Ameerpet, Hyderabad with M/s N.V.Rattaiah & Co, at a
sale price of Rs.28,42,278/- on 2nd April, 1993. The Conveyance deed
has not yet been executed.
2.03 Confirmation letters have been sent in respect of sundry
debtors/creditors and loans and advances. In view of all confirmations
not having been received, the balances are subject to reconciliation
and adjustments if any.
2.04 The Company has not received any Memorandum as required to be
filed by the suppliers with the notified authority under the Micro,
Small & Medium Enterprises Development Act, 2006) to claim their status
as micro, small & medium enterprises. Consequently the amount
paid/payable to such parties during the year is NIL.
2.05 The company''s business during the reporting period consists of
single reportable segment i.e. manufacturing and sale of Polished
Granite only. Hence no separate disclosure pertaining to segment
reporting as per AS 17 as issued by ICAI is made.
2.06 Deferred Tax provision has been made as per Accounting Standard
No.22 of Institute of Chartered Accountants of India.
Mar 31, 2013
I. Corporate information:
Divyashakti Granite Limited was Incorporated on 4th June, 1991 in the
state of Andhra Pradesh. The Company''s objectives are manufacture of
polished granite slabs, tiles & monuments. The Company undertook to set
up a 100% Export Oriented Unit (EOU) at Narsapur Village, Medak
District, Andhra Pradesh and it''s Reg. Office at 7-1-58, Divyashakti
Complex, Ameerpet, Hyderabad, Andhra Pradesh, Divyashakti Granites
Limited, ever since its inception in 1991, has carved a niche for
itself for producing world- class granite. Despite its brief presence,
the company has grown into one of the Country''s largest 100% Export
Oriented Granite Processing Units in a wide spectrum of colours,
textures and finish, to customers world-wide.
NOTE: 1.1 EXCEPTIONAL ITEMS
i) Trade payables relating to the purchases made /services received
during the earlier years, no longer payable amounting to Rs.
10,36,04,251/- written back to the statement of profit and loss.
ii) IncomeTax relating to earlier years amounting to Rs.1,57,20,252/-
has been paid during the year on account of disallowance of
purchases/services relating to earlier years.
iii) Excess provision for Gratuity amounting to Rs.9,16,198/- written
back to the statements of profit and loss.
1.02 The Company has entered into sale agreement for the purchase of
office premises at Ameerpet, Hyderabad with M/s N.V.Rattaiah & Co, at a
sale price of Rs.28,42,278/- on 2nd April, 1993. The Conveyance deed
has not yet been executed.
1.03 Confirmation letters have been sent in respect of sundry
debtors/creditors and loans and advances. In view of all confirmations
not having been received, the balances are subject to reconciliation
and adjustments if any.
1.04 The Company has not received any Memorandum as required to be
filed by the suppliers with the notified authority under the Micro,
Small & Medium Enterprises Development Act, 2006) to claim their status
as micro, small & medium enterprises. Consequently the amount
paid/payable to such parties during the year is NIL.
1.05 The company''s business during the reporting period consists of
single reportable segment i.e. manufacturing and sale of Polished
Granite only. Hence no separate disclosure pertaining to segment
reporting as per AS 17 as issued by ICAI is made.
1.06 Deferred Tax provision has been made as per Accounting Standard
No.22 of Institute of Chartered Accountants of India.
1.07 Figures in the Balance Sheet and Statement of Profit and Loss have
been rounded off to the nearest rupee.
1.08 Previous year rigures have been regrouped ana recidsairieo
whercver necessary.
1.09 Schedules 1.01 to 1.14,2.01 to 2.12 and 3.01 to 3.13 form part of
Balance Sheet and Statement of Profit and Loss and have been
authenticated.
Mar 31, 2012
I. Corporate information:
Divyashakti Granite Limited was Incorporated on 4th June, 1991 in the
state of Andhra Pradesh. The Company's objectives are manufacture of
polished granite slabs, tiles & monuments. The Company undertook to set
up a 100% Export Oriented Unit (EOU) at Narsapur Village, Medak
District, Andhra Pradesh and it's Reg. Office at 7-1-58, Divyashakti
Complex, Ameerpet, Hyderabad, Andhra Pradesh, Divyashakti Granites
Limited, ever since its inception in 1991, has carved a niche for
itself for producing world- class granite. Despite its brief presence,
the company has grown into one of the Country's largest 100% Export
Oriented Granite Processing Units in a wide spectrum of colours,
textures and finish, to customers world-wide.
1.01 Contingent Liabilities.
Rs.in lakhs.
SI.
No. Particulars 2011-12 2010-11
i Foreign Letters of Credit opened in
favour of Suppliers 265.98 305.14
for which goods are yet to be received.
ii Guarantees given by Bank (BG) 4.75 4.75
1.02 The Company has entered into sale agreement for the purchase of
office premises at Ameerpet, Hyderabad with M/s N.V.Rattaiah & Co, at a
sale price of Rs.28,42,278/- on 2nd April, 1993. The Conveyance deed
has not yet been executed.
1.03 Confirmation letters have been sent in respect of sunrt
uebtors/creditors and loans and advances. In view of all confirmations
not having been received, the balances are subject to reconciliation
and adjustments if any.
1.04 The Company has not received any Mp.friorandum as required to be
filed by the suppliers with the notified authority under the Micr0)
Small & Medium Enterprises Development Act, 2006) to claim their stati
as micro, small & medium enterprises. Consequently the amount
paid/payable to sUCh parties during the year is NIL.
1.05 The company's business during the reporting period consists of
single reportable segment i.e. manufar*tUrjng ancj sa|e 0f p0]jshed
Granite only. Hence no separate disclosure pertaining f0 segment
reporting as per AS 17 as issued by ICA! is made.
1.06 deferred Tax provision has been made as per Accounting Standard
No.22 of Institute of Chartered Accountants of India.
2.1 Figures in the Balance Sheet and Statement of Profit and Loss have
been rounded off to the nearest rupee.
2.2 Previous year figures have been regrouped and reclassified
wherever necessary.
2.3 Schedules 1.01 to 1.14, 2.01 to 2.10 and 3.01 to 3.13 form part of
Balance Sheet and Statement of Profit and Loss and have been
authenticated.
Mar 31, 2011
1. Contingent Liabilities. Rs in Lakhs
SI. Particulars 2010-11 2009-10
No.
i Foreign Letters of Credit
opened in favour of 305.14 214.37
Suppliers for which goods
are yet to be received.
ii Guarantees given by Bank (BG) 4.75 4.75
iii Income Tax demands disputed
by the Company and 532.05 532.05
are pending in Appeals
(Details in Item 2 below)
It is considered that no provision is required.
2. The Company has entered into sale agreement for the purchase of
office premises at Ameerpet, Hyderabad with M/s. N.V.Rattaiah & Co,, at
a sale price of Rs.28,42,278/- on 2nd April 1993. The Conveyance deed
has not yet been executed.
3. Confirmation letters have been sent in respect of sundry
debtors/creditors and loans and advances. In view of all confirmations
not having been received, the balances are subject to reconciliation
and adjustments, if any.
4. The Company has not received any Memorandum (as required to be
filed by the suppliers with the notifed authority under the Micro,
Small and Medium Enterprises Development Act, 2006) to claim their
status as micro, small & medium enterprises. Consequently, the amount
paid / payable to such parties during the year is NIL.
5. The Company's business during the reporting period consists of
single reportable segment i.e. manufacturing and sale of Polished
Granite only. Hence no separate disclosure pertaining to segment
reporting as per AS 17 as issued by ICAI is made.
6. Deferred Tax provision has been made as per Accounting Standard
No.22 of Institution of Chartered Accountants of India.
7. Related party disclosure :
a) Name of the party : M/s. Universal Extrusion Pvt.Ltd.,
Relationship : A company in which Managing Director
is a director
Nature of : Packing wood material (purchase)
Transaction
2010-11 2009-10
Transaction Value Rs. 46,32,980/- Rs. 33,43,658/-
Balance outstanding
as
on Balance Sheet : Rs. 11,96,387 10,73,407/-
date (Creditor) (Creditor)
Amount Written : Nil Nil
off/Back
b) Name of the party : M/s. Universal Marketing Pvt. Ltd.,
Relationship : A company in which Managing Director
and Executive
Director are directors
Nature of : Polished Granite Slabs
Transaction (third party exports)
Transaction Value : Rs. 37,00,000/- Nil
Balance
outstanding as
on Balance Sheet : Rs. 3,18,745/- Rs. 40,18,745/-
date (Creditor) (Creditor)
Amount Written : Nil Nil
off/Back
c) Name of the party : M/s. N.V. Rattaiah & Co.,
Relationship : A Company in which Managing Director
and Executive Directors are Partners.
Nature of : Advance paid for supply of Raw blocks
Transaction
Transaction Value : Rs. 27,00,000/- Nil
Balance
outstanding as
on Balance Sheet : Rs. 80,00,000 Rs. 53,00,000/-
date
Amount written : Nil
off/Back
8. Figures in the Balance Sheet and Profit and Loss Account have been
rounded off to the nearest rupee.
9. Previous year figures have been regrouped and reclassified
wherever necessary.
10. Schedules 1.01 to 1.09 and 2.01 to 2.07 form part of Balance Sheet
and Profit and Loss Account and have been authenticated.
Mar 31, 2010
1. Contingent Liabilities. Rs in Lakhs
Sl.
No. Particulars 2009-10 2008-09
i Foreign Letters of Credit opened in
favour of 214.37 Nil
Suppliers for which goods are yet to be
received.
ii Guarantees given by Bank (BG) 4.75 4.75
iii Income Tax demands disputed by the Company and 532.05 Nil
are pending in Appeals (Details in Item 2 below)
It is considered that no provision is required.
2. The Company has entered into sale agreement for the purchase of
office premises at Ameerpet, Hyderabad with M/s. N.V.Rattaiah & Co,, at
a sale price of Rs.28,42,278/- on 2nd April 1993. The Conveyance deed
has not yet been executed.
3. Confirmation letters have been sent in respect of sundry
debtors/creditors and loans and advances. In view of all confirmations
not having been received, the balances are subject to reconciliation
and adjustments, if any.
4. The Company has not received any Memorandum (as required to be
filed by the suppliers with the notifed authority under the Micro,
Small and Medium Enterprises Development Act, 2006) to claim their
status as micro, small & medium enterprises. Consequently, the amount
paid / payable to such parties during the year is NIL.
5. The Companys business during the reporting period consists of
single reportable segment i.e. manufacturing and sale of Polished
Granite only. Hence no separate disclosure pertaining to segment
reporting as per AS 17 as issued by ICAI is made.
6. Deferred Tax provision has been made as per Accounting Standard
No.22 of Institution of Chartered Accountants of India.
8. Related party disclosure :
a) Name of the party M/s. Universal Extrusion Pvt.Ltd.,
Relationship A company in which Managing Director is a
director
Nature of Transaction Packing wood material (purchase)
2009-10 2008-09
Transaction Value Rs. 33,43,658/- Rs.18,48,940/-
Balance outstanding as
on Balance Sheet date : Rs. 10,73,407
(Creditor) 13,89,749/- (Creditor)
Amount Written off/Back : Nil Nil
b) Name of the party M/s. Universal Marketing Pvt. Ltd.,
Relationship A company in which Managing Director and
Executive
Director are directors
Nature of Transaction
Polished Granite Slabs (third party exports)
Transaction Value Nil Nil
Balance outstanding as
on Balance Sheet date : Rs. 40,18,745/- (Creditor) Rs. 55,18,745/-
(Creditor)
Amount Written off/Back : Nil Nil
c) Name of the party M/s. N.V. Rattaiah & Co.,
Relationship A Company in which Managing Director and
Executive
Directors are Partners.
Nature of Transaction Advance paid for supply of Raw blocks
Transaction Value Nil Nil
Balance outstanding as
on Balance Sheet date : Rs. 53,00,000/- Nil
Amount written off/Back : Nil
7. Figures in the Balance Sheet and Profit and Loss Account have been
rounded off to the nearest rupee.
8. Previous year figures have been regrouped and reclassified
wherever necessary.
9. Schedules 1.01 to 1.09 and 2.01 to 2.07 form part of Balance Sheet
and Profit and Loss Account and have been authenticated.