Jun 30, 2013
1. The company has extended its financial year from 31st March 2013 to
30th June 2013 and therefore the accounts are for a period of fifteen
months ( 01/04/2012 to 30/06/2013) and therefore are not comparable
with that of the previous year.
2. Contingent Liabilities
(Rs. In Lacs)
2012-13 2011-12
a) Estimated amount of contracts
remaining to be executed. Nil Nil
b) Claims against the Company not
acknowledged as debts 10.34 10.34
c) Guarantee given by the Company 0.05 0.05
d) Unexpired letter of credit Nil Nil
3. No provision has been made for non moving inventories valued at Rs.
33.38 lacs
4. a) In accordance with Accounting Standard 22, ''Accounting for Taxes
on Income'' (AS22), issued by the Institute of Chartered accountants of
India, the Company has provided for deferred tax during the year.
b) The Company expects to generate taxable income in the coming years,
which will enable it to utilise the carried forward unabsorbed
depreciation, business loss and MAT credit.
5. Licensed and installed capacity and actual production at Patalganga
factory. Class of Goods: - Ampoules
Unit: - In numbers
Licensed Capacity: - Not Applicable
Installed Capacity: - 870 lacs(CP) (15 months)
Actual Production: - 522 lacsf CP) for a third party
6. Related Party Disclosure:
Related party Disclosures as required by Accounting Standard AS-18"
Related Party Disclosures" are given below:
a. Related Parties where control exists
Subsidiaries : NIL
b. Other Related Parties
1. Substantial Control : NIL
2. Associates : Elder Pharmaceuticals Ltd
Elder Healthcare Ltd Elder Instruments Pvt.Ltd Apricot Capitals Pvt.
Ltd EWF Pharmaceuticals Pvt. Ltd Maverick productions Pvt. Ltd Maverick
Digital Pvt. Ltd Limelight Communications Pvt. Ltd Redle
Pharmaceuticals Pvt. Ltd Anjay Prints Maveer prints Pvt. Ltd Anshul
Printers
3. Joint Ventures : NIL
4. Promoters Holdings together : NIL With its subsidiaries is more
than 20%
c. Key Management Personnel : Mr. Alok Saxena- Director
Dr. Anuj Saxena- Managing Director
d. Relative : Mrs. Sneh Saxena-wife of Mr. Jagdish Saxena
Mrs. Niti Saxena wife of Mr. Alok Saxena
Mrs. Shalini Kumar daughter of Mr. Jagdish Saxena
7. Basic and diluted earning per share has been calculated by
dividing the net profit / (loss), available for appropriation for the
year, by 3233080 shares of nominal value of Rs. 10/-each outstanding as
on 30th June 2013.
8. The previous years'' figures have been regrouped, rearranged,
reworked and reclassified, wherever necessary, to conform to revised
schedule VI classification and are to be read in relation to the
amounts and other disclosures relating to the current year.
Mar 31, 2012
1 Contingent Liabilities: (Rs. In Lacs)
2011-12 2010-11
a) Estimated amount of contracts
remaining to be executed. Nil Nil
b) Claims against the Company
not acknowledged as debts 10.34 10.34
c) Guarantee given by the Company 0.05 0.05
d) Unexpired letter of credit Nil Nil
2 a) In accordance with Accounting Standard 22, ÃAccounting for Taxes
on Income' (AS 22), issued by the
Institute of Chartered accountants of India, the Company has provided
for deferred tax during the year,
b) The Company expects to generate taxable income in the coming years,
which will enable it to utilise the carried forward-unabsorbed
depreciation, business loss and MAT credit.
3 Due to peculiar nature of activities of the Hospitality division &
considering the various items of consumption involved. It is not
possible to furnish the quantity wise details in respect of supply of
Food & Beverages & Liquor & Wines. The company is in the process of
making an application to the Company Law Board for seeking an exemption
from giving such details.
4 Obligation towards Long Term, Non Cancellable Operating Lease. The
Company has taken a property for hosptitality/restaurant division under
partially Non Cancellable Operating Lease. Lease Agreement are
renewable on expiry. The Future minimum lease payment in respect of the
above at the close of the year is as follows.
This lease agreement provides for an option to the company to renew the
lease period at the end of non cancellable period. The rental expenses
in respect of operating leases recognised in the Profit & Loss Account
are Previous Year ? 60 lacs.
NoteInstalled capacity is based on a six day week on a single shift
basis, the same is certified by the management and have not been
verified by the Auditors, this being a technical matter.
5. Segment Reporting
Based on the guiding principles given in the Accounting Standard on
ÃSegment Reporting (AS-17) issued by the Institute of Chartered
Accountants of India, the Company's primary business segments are
Manufacturing and Hospitality / Restaurant divisions.The financial
details of the segments are as under.
{i) Transactions relating to reimbursement of actual expenses to/from
related parties have not been considered above,
(ii) The details of related parties as defined in Accounting Standards
AS 18 have been ascertained & provided by the management & the Auditors
have relied.
6 Basic and diluted earnings per share has been calculated by dividing
the net profit/ (loss) available for appropriation for the year by
3,233,080 shares of nominal value of ? 10/- each outstanding as on 31st
March, 2012
7 The revised schedule VI notified under Companies Act 1956 has become
applicable to the Company during the current year. The previous years
figures have been re-grouped, re-arranged, re-worked & reclassified,
wherever necessary, to conform to revised schedule VI classification
and are to be read in relation to the amounts and other disclosures
relating to the current year.
b Rights, preferences, and restrictions attached to Equity shares
The Company has only one class of Equity shares having par value of
Rs.10/ - each. Each holder of Equity share is entitled to one vote per
share.The Company pays divident to Equity share holders in Indian
rupees. The divident 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 the liquidation of the Company, the holders of Equity
shares will be entitled to receive remaining assets of the Company. The
distribution will be in proportion to the number of Equity shares held
by the shareholders.
Mar 31, 2010
1. (a) Short term loans includes an amount of Rs.1500 lacs from a
financial Institution, which is secured by way of, mortgage and
hypothecation of fixed and movable assets of the Company situated at
Plot No A-38/1, Patalganga Industrial Area , village Khaire Dist Raigad
and pledge of equity shares held by the promoters of the Company and
personal guarantee of a Director (Previous Year Rs. 1500 Lakhs)
(b) Short term loan includes an amount of Rs. 25 lacs from bodies
corporate which is secured by way of pledge equity shares of third
party & due within one year.(Previous year Rs. 80 lacs)
2. Contingent Liabilities
(Rs. In Lacs)
2009-10 2008-09
a) Estimated amount of contracts
remaining to be executed. Nil Nil
b) Claims against the Company not
acknowledged as debts 10.34 10.34
c) Guarantee given by the Company 0.05 0.05
d) Unexpired letter of credit Nil Nil
3 Sundry Debtors include Rs.16.95 Lacs (Previous Yr Rs: Rs.6.93 Lacs)
due from Companies in which directors of the company are interested as
directors.
4 Loan & Advances includes Rs: 309.24 Lacs (Previous year Rs:283.01
Lacs) due from a Company in which directors of the Company are
interested as Directors.
5. The Company has not made any provision for slow moving inventories
amounting to Rs:33.59 lacs.
6. The Small Scale Industrial undertakings to whom amount is
outstanding for more than 30days is NIL
The above information regarding Small Scale Industrial undertakings
have been determined to the extent such parties have been identified on
the basis of information available with the company. The auditors have
relied this upon.
7. a) In accordance with Accounting Standard 22, ÃAccounting for Taxes
on Income (AS22), issued by the Institute of Chartered accountants of
India, the Company has provided for deferred tax during the year.
b) The Company expects to generate taxable income in the coming years,
which will enable it to utilise the carried forward-unabsorbed
depreciation, business loss and MAT credit.
8 No provision has been made for diminution in the value of unquoted
non-trade investment aggregating to Rs:700000/- (Rs:700000/-) , as
investments are of long term in nature.
9. Figures of previous year have been regrouped and/or rearranged
wherever necessary. The same are not comparable with that of previous
year since company has started new division
10. The Company has received a demand from commissioner of Central
Excise amounting to Rs.10.34 Lakhs. The Company has preferred an appeal
before the tribunal & has paid 50% of the amount against the said
demand which has been shown under Loans & Advances.
11. Due to peculiar nature of activities of the Hospitality division &
considering the various items of consumption involved. It is not
possible to furnish the quantity wise details in respect of supply of
Food & Beverages & Liquor & Wines. The company is in the process of
making an application to the Company Law Board for seeking an exemption
from giving such details.
12. Obligation towards Long Term , Non Cancellable Operating Lease.
The Company has taken a property for hosptitality/restaurant division
under partially Non Ca Cancellable Operating Lease. Lease Aggrement are
renewable on expiry. The Future minimum lease payment in respect of the
above at the close of the year is as
This lease agreement provides for an option to the company to renew the
lease period at the end of non cancellable period. The rental expenses
in respect of operating leases recognised in the Profit & Loss Account
are Rs.60 Lacs for the Year ended 31st March 2010. (Previous Year Ã
Rs:60 lacs)
13. Licenced and installed capacity and actual production at
Patalganga factory.
Class of Goods: - Ampoules
Unit: - In numbers
Licensed Capacity: - Not Applicable
Installed Capacity: - 52,800,000
Actual Production: - 52,044,130 ( for a third party)
Note :- Installed capacity is based on a six day week on a single shift
basis, the same is certified by the management and have not been
verified by the Auditors, this being a technical matter.
14. Value of imports on CIF basis ( Rs) NIL Nil
15. expenditure in Foreign currency Foreign Travel NIL Nil
16. Exports of Goods on FOB basis Nil Nil
17. Related Party Disclosures
Related party disclosures as required by Accounting Standard AS-18,
"Related Party Disclosures" are given below:
a. Related parties where control exists" Subsidiaries : Nil
b. Other Related parties:
1. Substantial Control : Nil
2. Associates Elder
Pharmaceuticals Ltd.
Elder Health Care Ltd. Elder Instruments Pvt. Ltd.
Anjay Prints
Anshul Printers
Ameya Prints
Maverick Productions Pvt Ltd.
Maveer Prints Pvt Ltd
3. Joint Ventures Nil
4. Promoters holding together Nil
with its subsidiary is more than 20
%
c. Key Management Personnel Mr. Jagdish Saxena - Director
Mr. Alok .Saxena - Director.
Dr. Anuj Saxena - Managing
Director.
d. Relative Mrs.Sneh Saxena-Wife of
Mr.Jagdish Saxena
Mrs.Niti Saxena-Wife of
Mr.Alok Saxena. Mrs.Shalini
Kumar-Daughter of
Mr.Jagdish Saxena
e. The following Transactions were carried out with related parties in
the ordinary course of business.
18. Basic and diluted earnings per share has been calculated by
dividing the net proft/ (loss) available for appropriation for the year
by 3,233,080 shares of nominal value of Rs.10/-each outstanding as on
31st March, 2010
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