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Notes to Accounts of Dutron Polymers Ltd.

Mar 31, 2016

- AS - 1 - Accounting of Fixed Assets

The Company has carried out changes in Fixed Assets as per new Companies Act, 2013 and rules made there under. When there were changes in method of accounting in earlier years, figures of assets have been revised.

- AS - 2 - Accounting of Foreign Exchange Fluctuations

Transactions in foreign currency are recorded at the approximate exchange rate prevailing on the date of transactions. Foreign currency monetary assets and monetary liabilities not covered by forward exchange contracts are translated at year end exchange rates and profit and loss so determined and realized exchange gains/losses are recognized in purchase proceed of imports. The company has made loss due to Foreign Exchange Fluctuations (Purchase proceeds of imports) amounting to '' 6,91,311 during the year.

- AS - 3 - Accounting for the Government Grant

The company recognizes the Government grants only when there is reasonable assurance that:

* The enterprise will comply with the conditions attached to them and

* The grant will be received.

During the year, the company has not received any grant/subsidy.

- AS - 4 - Accounting for Investments

(a) Investments in Equity - Associates (Trade/ Quoted) : Nil

(b) Investments in Equity - Others (Trade/Quoted) : Nil

(c) Investments in Equity - Others (Trade/Unquoted): 200 Shares of The Ahmedabad Mercantile Co-Op. Bank Ltd. fully paid up equity shares of F.V. ''50 each.

(d) Current Investments: Nil

- AS - 5 - Accounting for Retirement Benefits

Contribution made to defined contribution retirement benefit plans viz Provident fund, Gratuity fund, which are recognized as expenses as they fall due and paid. All the above expenditures are debited to profit and loss account. Provision for leave salary is not made.

- AS - 6 - Accounting of Borrowing Cost

Interest on Borrowings to finance fixed assets are capitalized only if the borrowing costs are directly attributable to the acquisition of fixed assets or assets get substantial period of time to get ready for intended use. Expenditure incurred on alteration/temporary construction is charged against revenue under appropriate head in year in which it incurred.

Borrowing cost capitalized in year Rs, Nil

- AS - 7 - Segment Reporting

The Company is engaged in manufacture of HDPE/PVC/CPVC Pipes. This is the only segment of the company and there is no other reportable segment. Hence segment wise reporting is not applicable to the company.

- AS - 8 - Related Party Disclosure A. List of Related Parties and Relations

1. Group Companies

(1) Cosmofil Plastisack Pvt. Ltd. (2) Dutron Plastics Ltd.

(3) Dutron Plastics (Bharuch) (4) Dutron Polymers

(5) Dura Vinyle Industries (6) Nippon Polymers Pvt. Ltd.

(7) Technoplast Engg. Co.

2. Key Management Personnel

(a) Sudip B. Patel

(b) Rasesh H. Patel

(c) Alpesh B. Patel

3. List of Relatives of Key Managerial Personnel and Enterprise over which Key Management Personnel and their relatives significantly influence, with whom transaction have taken place during the year

(1) Cosmofil Plastisack Pvt. Ltd. (2) Dutron Plastics Ltd.

(3) Dutron Plastics (Bharuch) (4) Dutron Polymers

(5) Dura Vinyle Industries (6) Nippon Polymers Pvt. Ltd.

(7) Technoplast Engg. Co.

- AS - 9 - Earning Per Share

Basic Earnings per Share are disclosed in the profit and loss account. There is no Diluted Earnings per Share as there are no dilative potential equity shares.

- AS - 10 - Accounting for Taxes on Income

Provision for current income taxes is made on taxable income at the rate applicable to the relevant assessment year. Deferred taxes are recognized for future tax consequences attributable to timings difference between the financial statements, determination of income and their recognition for tax purpose. The effect on deferred tax assets and liabilities of a change in tax rates is recognized for tax purposes. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in Profit and Loss Account using the tax rates and tax laws that have been enacted or substantively enacted by balance sheet date.

Deferred tax assets are recognized and carried forward only to the extent that there is a virtual certainty of realization of such assets. Considering this, the company has not applied for provision for deferred tax.

- AS - 11- Impairment of Assets

The carrying value of fixed assets is evaluated whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. There is no impairment loss recognized or quantified during the reporting period.

- AS - 23- Provisions, Contingent Liabilities and Contingent Assets

Contingent liabilities are not provided for but are disclosed after a careful evaluation of facts and legal aspects of the matter involved. In general, liabilities and contingencies are provided for it if, in the opinion and at the discretion of the management, there are reasonable prospects of such liabilities crystallizing or future outcome of such contingencies is likely to be materially detrimental to business.


Mar 31, 2015

1. Figures of previous year have been regrouped / rearranged wherever necessary.

2. The information regarding suppliers holding permanent registration certificate as a small scale industrial undertaking or as an ancillary industrial undertaking issued by the Directorate of Industries of state is not available. In absence of such information, the amount and interest due as per the Interest on delayed payments to Small and Ancillary Industries Act, 1993 is not ascertainable. There is no claim for payment of interest under the aforesaid law.

3. Disclosures under Section 22 of Micro, Small and Ancillary Industries Act, 2006 can be considered on receiving relevant information from suppliers who are covered under the act is received from such suppliers.


Mar 31, 2014

* AS - 1 - Contingencies and Events occurring after Balance sheet date

Sr.No. Particulars Amount (Rs.)

1 Contingent Liabilities Nil

2 Liabilities Disputed under Income Tax Nil

3 Estimated Amount of Contracts remaining Nil to be executed on Capital accounts and not provided for

4 Material Events occurring after Balance sheet date are taken into cognizance. There have been no material changes or events since the date of balance sheet affecting financial statements as on the Balance sheet date. Further, on the date of Balance sheet, no events or circumstances have occurred, though properly excluded from the accounts, are of such importance that they should be disclosed through any medium.

5 Particulars of Disputed dues in respect Nil of Income tax

* AS - 2 - Segment Reporting

The Company is engaged in manufacture of HDPE/RIGID PVC/CPVC Pipes. This is the only segment of the company and there is no other reportable segment. Hence segment wise reporting is not applicable to the company.

* AS - 3 - Related Party Disclosure

A. List of Related Parties and Relations

1. Group Companies

(1) Cosmofil Plastisack Pvt. Ltd. (2) Dutron Plastics Ltd.

(3) Dutron Plastics (Bharuch) (4) Dutron Polymers

(5) Dura Vinyle Industries (6) Nippon Polymers Pvt. Ltd.

(7) Technoplast Engg. Co.

2. Key Management Personnel

(a) Shri Sudip B. Patel

(b) Shri Rasesh H. Patel

(c) Shri Alpesh B. Patel

3. List of Relatives of Key Managerial Personnel and Enterprise over which Key Management Personnel and their relatives significantly influence, with whom transaction have taken place during the year

(1) Cosmofil Plastisack P. Ltd. (2) Dutron Plastics Ltd.

(3) Dutron Plastics (Bharuch) (4) Dutron Polymers

(5) Dura Vinyle Industries (6) Nippon Polymers Pvt. Ltd.

(7) Technoplast Engg. Co.

* AS - 4 - Accounting for Taxes on Income

Provision for current income taxes is made on taxable income at the rate applicable to the relevant assessment year. Deferred taxes are recognized for future tax consequences attributable to timings difference between the financial statements, determination of income and their recognition for tax purpose. The effect on deferred tax assets and liabilities of a change in tax rates is recognized for tax purposes. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in Profit and Loss Account using the tax rates and tax laws that have been enacted or substantively enacted by balance sheet date. Deferred tax assets are recognized and carried forward only to the extent that there is a virtual certainty of realization of such assets. Considering this, the company has not applied for provision for deferred tax.


Mar 31, 2013

1. Figures of previous year have been regrouped / rearranged wherever necessary.

2. The information regarding suppliers holding permanent registration certificate as a small scale industrial undertaking or as an ancillary industrial undertaking issued by the Directorate of industries of state is not available. In absence of such information, the amount and interest due as per the Interest on delayed payments to Small and Ancillary Industries Act, 1993 is not ascertainable. There is no claim for payment of interest under the aforesaid law.

3. Disclosures under Section 22 of Micro, Small and Ancillary Industries Act, 2006 can be considered on receiving relevant information from suppliers who are covered under the act is received from such suppliers.

AS - 4 - Accounting for Taxes on Income

Provision for current income taxes is made on taxable income at the rate applicable to the relevant assessment year. Deferred taxes are recognized for future tax consequences attributable to timings difference between the financial statements, determination of income and their recognition for tax purpose. The effect on deferred tax assets and liabilities of a change in tax rates is recognized for tax purposes. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in Profit and Loss Account using the tax rates and tax laws that have been enacted or substantively enacted by balance sheet date.

Deferred tax assets are recognized and carried forward only to the extent that there is a virtual certainty of realization of such assets. Considering this, the company has not applied for provision for deferred tax.

AS - 5- Impairment of Assets

The carrying value of fixed assets is evaluated whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. There is no impairment loss recognized or quantified during the reporting period.

AS - 6- Provisions, Contingent Liabilities and Contingent Assets

Contingent liabilities are not provided for but are disclosed after a careful evaluation of facts and legal aspects of the matter involved. In general, liabilities and contingencies are provided for it if, in the opinion and at the discretion of the management, there are reasonable prospects of such liabilities crystallizing or future outcome of such contingencies is likely to be materially detrimental to business.

The notes referred to above form an integral part of Accounts.


Mar 31, 2012

1. Figures of previous year have been regrouped / rearranged wherever necessary.

2. The information regarding suppliers holding permanent registration certificate as a small scale industrial undertaking or as an ancillary industrial undertaking issued by the Directorate of industries of state is not available. In absence of such information, the amount and interest due as per the Interest on delayed payments to Small and Ancillary Industries Act, 1993 is not ascertainable. There is no claim for payment of interest under the aforesaid law.

3. Disclosures under Section 22 of Micro, Small and Ancillary Industries Act, 2006 can be considered on receiving relevant information from suppliers who are covered under the act is received from such suppliers.


Mar 31, 2010

AS -4 - Contingencies and Events occurring after Balance sheet date

Sr No Particulars Amount (Rs)

1 Contingent Liabilities Nil

2 Liabilities Disputed under Income Tax Nil

3 Estimated Amount of Contracts remaining to be executed on Capital accounts and not provided for Nil

4 Material Events occurring after Balance sheet date are taken into cognizance. There have been no material changes or events since the date of balance sheet affecting financial statements as on the Balance sheet date. Further, on the date of Balance sheet, no events or circumstances have occurred, though properly excluded from the accounts, are of such importance that they should be disclosed through any medium.

5 Particulars of Disputed dues in respect of Income tax; Nil

AS - 5 - Net Profit and Loss for the period, extra ordinary items and change in accounting policy

1 Net Profit for the period: All items of income and expense in the period are included for determination of net profit of the year unless specifically mentioned elsewhere in the financial statements or required by an Accounting Standard. Prior period items, extra ordinary items and changes in accounting policy are disclosed only if those have material impact on the affairs of the company.

2 Prior Period items: All material items of Income/ Expenditure pertaining to prior period and expenses to subsequent period are accounted separately. The other income includes prior period item of Rs. Nil

3 Extra ordinary Items

There are no Extra ordinary Items.

4 Accounting Policies

The company has consistently followed accounting polices and there are no material changes in accounting policy of the company from that followed in previous year.

AS - 6 - Depreciation Accounting

a) The Gross Block of fixed assets is stated at cost of acquisition or construction including any cost attributable to bringing the assets to their working condition for their intended use.

b) Depreciation on fixed assets is provided on Straight Line Basis at the rate prescribed in Schedule XIV to the Companies Act, 1956. On additions of Assets the depreciation is charged on pro rata basis.

AS -10 - Accounting of Fixed Assets

Fixed Assts are stated at cost of acquisition less accumulated depreciation except in case of Some Land, Building and Plant & Machinery where it has been adjusted by revaluation.

The Company had revalued its land, building and Plant & Machinery by Rs. 5411156 in the financial year 1992- 93. The depreciation on the same has been reversed in the current year amounting to Rs. 35531.

(Previous year Rs. 35531)

- AS -11 - Accounting of Foreign Exchange Fluctuations

Transactions in foreign currency are recorded at the approximate exchange rate prevailing on the date of transactions. Foreign currency monetary assts and monetary liabilities not covered by forward exchange contracts are translated at year end exchange rates and profit and loss so determined and realized exchange gains/losses are recognized in profit and loss account. The company has no loss/gain due to Foreign Exchange Fluctuations during the current year.

- AS -12 - Accounting for the Government Grant

The company recognizes the Government grant only when there is reasonable assurance that:-

The enterprise will comply with the conditions attached to them and * The grant will be received.

During the year, the company has not received any grant/subsidy.

- AS -15 - Accounting for retirement benefits

Contribution made to defined contribution retirement benefit plans viz Provident fund, Gratuity fund (through LIC Group Gratuity Scheme), which are recognized as expenses as they fall due and paid. All the above expenditures are debited to profit and loss account. Provision for leave salary is not made.

- AS -16 — Accounting of Borrowing Cost

Interest on Borrowings to finance fixed assets are capitalized only if the borrowing costs are directly attributable to the acquisition of fixed assets or assets get substantial period of time to get ready for intended use. Expenditure incurred on alterationAemporary construction is charged against revenue under appropriate head in year in which it incurred.

Borrowing cost capitalized in year Rs. Nil

- AS-17-Segment Reporting

The Company is engaged in manufacturing in HDPE/RIGID PVC Pipes Fittings. This is the only segment of the company and there is no other reportable segment. Hence segment wise reporting is not applicable to the company. »

- AS-18-Related Party Disclosure

A. List of Related Parties and Relations 1. Group Companies

(1) Cosmofil Plastisack Pvt. Ltd.

(2) Dutron Plastics Ltd.

(3) Dutron Telecom Pvt. Ltd.

(4) Dutron Plastics (Bharuch)

(5) Dutron Polymers

(6) Dura Vinyle Industries

(7) Nippon Polymers Pvt. Ltd.

(8) Technoplast Eng. Co.

2. Key Management Personnel

(a) Shri Sudip B. Patel

(b) Shri Rasesh H. Patel

(c) Shri Alpesh B. Pate!

3. List of Relatives of Key Managerial Personnel and Enterprise over which Key Management Personnel and their, relative excessive significant influence with whom transaction have taken place during the year

(1) Cosmofil Plastisack P. Ltd.

(2) Dutron Plastics Ltd.

(3) Dutron Telecom P. Ltd.

(4) Dutron Plastics (Bharuch)

(5) Dufrin Polymers

(6) Dura Vinyle Industries

(7) Nippon Polymers Pvt. Ltd.

(8) Technoplast Eng. Co.

AS - 22 - accounting for Taxes on Income

Provision for current income taxes is made on taxable income at the rate applicable to the relevant assessment year. Deferred taxes are recognized for future tax consequences attributable to timings difference between the financial statements determination of income and their recognition for tax purpose. The effect on deferred tax assets and liabilities of a change in tax rates is recognized for tax purposes. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in Profit and Loss Account using the tax rates and tax laws that have been enacted or substantively enacted by balance sheet date.

Deferred tax assets are recognized and carried forward only to the extent that there is a virtual certainty of realization of such assets. Considering this, the company has not applies for provision for deferred tax.

AS - 28- Impairment of Assets

The carrying value of fixed assets is evaluated whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. There is no impairment loss recognized or entif ied during the reporting period.

AS - 29- Provisions, Contingent Liabilities and Contingent Assets

Contingent liabilities are not provided for but are disclosed after a careful evaluation of facts and legal aspects of the matter involved. In general, liabilities and contingencies are provided for it. If, in the opinion and at the discretion of the management, there are reasonable prospects of such liabilities crystallizing or future outcome of such contingencies is likely to be materially detrimental to business.

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