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Notes to Accounts of Elder Projects Ltd.

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.

Oct 27, 10:45 am
Oct 27, 10:39 am
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