Home  »  Company  »  Elf Trading & Chem  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Elf Trading & Chemicals Manufacturing Ltd.

Mar 31, 2015

1 Corporate information:

ELF Trading & Chemicals Manufacturing Limited (the company) is a Public Limited Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the business of Oil trading & Investments.

2 Contingent liabilities and As March 31, As March 31, Commitments: 2015 (Rs) 2014 (Rs)

(to the extent not provided for)

a) Contingent Liabilities:

Claims against the Company not acknowledged as

i) debts - -

ii) Guarantees - -

iii) Letters of credit - -

iv) Tax demands under disputes - -

Other monies for which company is contingently liable

The management believes, based on internal assessment and / or legal advice, that the probability of an ultimate adverse decision and outflow of resources of the Company is not probable and accordingly, no provision for the same is considered necessary.

b) Commitments

i) Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) - -

ii) Uncalled liability on shares and investments partly paid - -

iii) Other Commitments (Specify nature) - -

c) Arrears of fixed cumulative dividends on preference shares (including tax thereon)

3 Segment Information

The Company has identified business segments as its primary segment. Business segments are primarily Trading and Investments. Revenues and expenses directly attributable to segments are reported under each reportable segment Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. All other expenses which are not attributable or allocable to segments have been disclosed as unallocable expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. All other assets and liabilities are disclosed as unallocable. Fixed assets that are used interchangeably amongst segments are not allocated to primary and secondary segments.

4 There are no Micro and Small enterprises, to whom the company owes dues, which are outstanding for more than 45 days as at 31st March, 2015. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

5 Disclosure as per Clause 32 ofthe Listing Agreement entered into with the Stock Exchange

There are no Loans and advances in the nature of loans given to subsidiaries, associates,firms/companies in which directors are interested,and to other parties where repayment schedule is not specified and also there are no investment in shares of the company by such parties.

6 Other Disclosures pertaining to Statement of Profit and Loss in respect of Value of Imports calculated on CIF basis, expenditure in foreign currency during the financial year, remittance in foreign currency on account of dividends, earnings in foreign exchange is not given as the same is not applicable.

7 Previous year's figures

Previous year's figures have been regrouped / reclassified / rearrange wherever necessary to correspond with the current year's classification / disclosure.


Mar 31, 2014

1 Corporate information:

ELF Trading & Chemicals Manufacturing Limited (the company) Is a Public Limited Company domiciled in India and Incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the business of Oil trading & Investments.

2. SHARE CAPITAL

a) Terms/rights attached to Equity Shares

The Company has only one class of Equity shares having a par value of Rs. 10/- each share. Each holder of Equity Shares is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting, except in the case of interim dividend.

The Board of Directors at its meeting held on 27.05.2014 recognised as Rs. 2/- (Rupees Two Only) per share as distribution to equity shareholders subject to the approval at the ensuing Annual General Meeting. If approved dividend for the financial year 2013-14 will be Rs. 2/- per share (Previous year Rs. 2/-). The total Equity dividend appropriation for the year ended 31st March, 2014 amounted to Rs. 4,38,029/- including corporate dividend tax of Rs. 63,629/-(Previous year Rs. 4.38,029/- including corporate dividend tax Rs. 63,629/-)

In the event of the liquidation of the Company and in accordance with the Companies Act 1956, the holders of equity shares will be entitled to receive remaining asssets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

3. Contingent liabilities and Commitments: (to the extent not provided for)

a) Contingent Liabilities:

Claims against the Company not acknowledged as

i) debts - -

ii) Guarantees - -

iii) Letters of credit - -

iv) Tax demands under disputes - - Other monies for which company is contingently liable

The management believes, based on Internal assessment and / or legal advice, that the probability of an ultimate adverse decision and outflow of resources of the Company is not probable and accordingly, no provision for the same is considered necessary.

b) Commitments

i) Estimated amount of contracts remaining to be executed on capital account and not provided for - - (net of advances)

ii) Uncalled liability on shares and investments - - partly paid

iii) Other Commitments (Specify nature) - -

c) Arrears of fixed cumulative dividends on preference shares (including tax thereon)

4. Segment Information

The Company has identified business segments as its primary segment. Business segments are primarily Trading and Investments. Revenues and expenses directly attributable to segments are reported under each reportable segment. Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. All other expenses which are not attributable or allocable to segments have been disclosed as unallocable expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. All other assets and liabilities are disclosed as unallocable. Fixed assets that are used interchangeably amongst segments are not allocated to primary and secondary segments.

5. Related party transactions Details of related parties:

Key Management Personnel (KMP)

6. There are no Micro and Small enterprises, to whom the company owes dues, which are outstanding for more than 45 days as at 31st March, 2014. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

7. Disclosure as per Clause 32 of the Listing Agreement entered into with the Stock Exchange

There are no Loans and advances in the nature of loans given to subsidiaries, associates,firms/companies in which directors are interested,and to other parties where repayment schedule is not specified and also there are no investment in shares of the company by such parties.

8. Other Disclosures pertaining to Statement of Profit and Loss in respect of Value of Imports calculated on CIF basis, expenditure in foreign currency during the financial year, remittance in foreign currency on account of dividends, earnings in foreign exchange is not given as the same is not applicable.

9. Previous year's figures

Previous year's figures have been regrouped / reclassified / rearrange wherever necessary to correspond with the current year's classification / disclosure.


Mar 31, 2013

1 Corporate information:

ELF Trsding & Chemicals Manufacturing Limited (the company] is a Public Limited Company domiciled in India and Incorporated under the provisions of the Companies Act, 1956. The Company is enR&ged in the business of Oil trading & Investments.

2 Segment Information

The Company has Identified business segments as its primary segment. Business segments are primarily Trading srvd Investments. Revenues anc expenses dlrectty attributable to segments are reported under each reportable segment. Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower effo.ts. All other expenses which are not attributable or allocable to seements have been disclosed as unallocable expenses. Assets and liabilities that are directly attributable or allocable to segmenis are disclosed under each reportable segment. All other assets and liabilities are disclosed as unallocable. Fixed assets that are used Interchangeably amonest segments are not allocated to primary and secondary segments.

" There are no Micro and Small enterprises, to *hom the company 0WeS An which are outstanding (or more than 4SB3VS „ at 31° Maich. »R This information u required to be disdosed under the Micro, Small nd Medium Enterprise Development Act. 2006 has been determined to the extent such parties have been identified on the basis of inform align available with the company.

3 Disclosure as per Clause 31 of the Listing Agreement entered Into with the Stock Exchange

There are no Loaris and advances in the nature of lopns given to subsidiaries, associates,firms/companies in which directors are lnterested,and to other parties where repayment schedule is not specified and also there are no investment In shares of the company by such parties.

4 other Disclosures pertaining to Statement of Profit and Loss in respect of Value of Imports calculated on CIF basis, expenditure in foreign currency during the financial year, remittance In foreign currency on account of dividends, earnings in foreign exchange is not given as the same is not applicable.

5 Previous year''s figures

Previous year''s figures have been regrouped / reclassified / rearrange wherever necessary to correspond with the current year''s classification Disclosure.


Mar 31, 2012

1 Corporate information:

ELF Trading & Chemicals Manufacturing Limited (the company) is a Public Limited Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the business of Oil trading & Investments.

a) Terms, rights and redemption attached to Preference Shares

The Company had only one class of Preference shares having a par value of Rs 10/- per share. The said shares carries an annual dividend ofRs 0.80 per share and were non cumulative in nature. The Company declares and pays dividend in indian rupees. The dividend proposed by the Board of directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. The said shares are redeemable at par after a period of 1 year from the date of allotment after giving 30 days notice in writing but not later than a period of 7 years.

During the year the entire preference share capital was redeemed at par and proportionate dividend recognised as distribution to preference share holders Rs 0.60 (Previous year 10.80)

Each holder of preference shares is entiled to vote per share only on resolutions placed before the company which directly affects the rights attached to it.

In the event of the liquidation of the Company and in accordance with the Companies Act 1956, the holders of equity shares will be entitiled to receive remaining asssets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders._

Particulars As at March, As at March, 31, 2012 31, 2011 Rs Rs

Contingent liabilities and Commitments: (to the extent not provided for)

a) Contingent Liabilities: Claims against the Company not acknowledged as

i) debts - -

ii) Guarantees - -

iii) Letters of credit - -

iv) Tax demands under disputes - 409500 Other monies for which company is contingently liable

The management believes, based on internal assessment and / or legal advice, that the probability of an ultimate adverse decision and outflow of resources of the Company is not probable and accordingly, no provision for the same is considered necessary.

b) Commitments

i) Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) - -

ii) Uncalled liability on shares and investments partly paid - -

iii) Other Commitments (Specify nature) - -

c) Arrears of fixed cumulative dividends on preference shares(including tax thereon)

02 Segment Information

The Company has identified business segments as its primary segment. Business segments are primarily Trading and Investments. Revenues and expenses directly attributable to segments are reported under each reportable segment. Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. All other expenses which are not attributable or allocable to segments have been disclosed as unallocable expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. All other assets and liabilities are disclosed as unallocable. Fixed assets that are used interchangeably amongst segments are not allocated to primary and secondary segments.

There are no Micro and Small enterprises, to whom the company owes dues, which are outstanding for more than 45 days as at 3lst March, 2012.

This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

03 Disclosure as per Clause 32 of the Listing Agreement entered into with the Stock Exchange

There are no Loans and advances in the nature of loans given to subsidiaries, associates, firms/companies in which directors are interested, and to other parties where repayment schedule is not specified and also there are no investment in shares of the company by such parties.

04 Other Disclosures pertaining to Statement of Profit and Loss in respect of Value of Imports calculated on CIF basis, expenditure in foreign currency . during the financial year, remittance in foreign currency on account of dividends, earnings in foreign exchange is not given as the same is not applicable.

05 Previous year's figures

The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified / rearrange wherever necessary to correspond with the current year's classification / disclosure.


Mar 31, 2011

1. The following companies namely;

- Asian Paints Limited

- Resins And Plastics Limited

- Pragati Chemicals Limited

are no longer considered as companies under the same management / group, based on the written opinion received from the Company's Solicitors in respect of Section 45 IA of Reserve Bank of India Act, 1945.

2. Previous year figures have been regrouped and/or rearranged and/or reclassified wherever necessary to make them comparable with the figures of the current year.

3. Figures of the previous year rounded off to the nearest rupee.

4. On the conservative basis the management does not recognise deferred tax assets but only deferred tax liabilities arising out of timing differences as stated in Accounting Standards - AS 22 relating to "Accounting for Taxes on Income" issued by Institute of Chartered Accountants of India.

5. There are no Micro and Small enterprises, to whom the company owes dues, which are outstanding for more than 45 days as at 31st March, 2011. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

6. Other information as required by schedule VI, Part II, of the Companies Act, 1956, pertaining to employees, imports, exports, expenditure in foreign currencies, amounts remitted in foreign currencies and earning in foreign exchange are not given as the same are not applicable.

7. As per Accounting standard - 18 on Related Party Disclosures the disclosures of transactions with related party as defined in the Accounting Standard is given below. Transactions between the company and its promoters, management personnel or other related parties are as reported by the management.

The related parties where control exists or where significant influence exists of the Company are as under:

Controlling Companies:

NIL

Associate Companies:

Satyadharma Investments And Trading Co. Pvt. Ltd.

Sudhanva Investments And Trading Co. Pvt. Ltd.

Jaldhar Investments And Trading Co. Pvt. Ltd.

Centaurus Trading And Investments Pvt. Ltd.

Tru Trading And Investments Pvt. Ltd.

Doli Trading And Investments Pvt. Ltd.

Castle Investment And Industries Pvt. Ltd.

Rupen Investment And Industries Pvt. Ltd.

Lyon Investment And Industries Pvt. Ltd.

Ricinash Oil Mill Ltd.

A R Intertect Design Pvt. Ltd.

Navbharat Packaging Industries Ltd.

a) Key management personnel:

Name of the Director Designation

Ashish A Choksi Director

Mahendra C. Choksi Director

Shailesh C. Choksi Director

b) Relatives of Key management personnel: NIL

8. Balance due from Subsidiary Company: NIL

9. Segment Reporting:

The Company has disclosed Trading of Oil as the primary business segment. The Company's operation predominantly relate to trading of Commercial Castor Oil and Soya Oil. The Company caters to the needs of the Domestic market. Other business segment reported is Investments in shares and securities. There are no reportable geographical segments. Segment Revenue, Segment Result, Segment Assets and and Segment Liabilities include the respective amounts identifiable to each of the segments as also amounts allocated on a reasonable basis. The expenses, which are not directly attributable to the business segment, are shown as unallocated corporate cost. Assets and Liabilities that cannot be allocated between the segments are shown as a part of unallocated corporate assets and liabilities respectively.

 
Subscribe now to get personal finance updates in your inbox!