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Notes to Accounts of Elixir Capital Ltd.

Mar 31, 2018

Note 1 FIRST TIME ADOPTION OF IND AS

The Company has adopted Ind AS with effect from 1st April 2017 with comparatives being restated. Accordingly the impact of transition has been provided in the Opening Reserves as at 1st April, 2016. The figures for the previous period have been restated, regrouped and reclassified wherever required to comply with the requirement of Ind AS and Schedule III.

a) Exemptions from retrospective application

(i ) Business combination exemption

The Company has applied the exemption as provided in Ind AS 101 on non-application of Ind AS 103, “ Business Combinations” to business combinations consummated prior to April 1, 2016 (the “Transition Date”), pursuant to which goodwill/capital reserve arising from a business combination has been stated at the carrying amount prior to the date of transition under India GAAP. The Company has also applied the exemption for past business combinations to acquisitions of investments in subsidiaries/ associates/joint ventures consummated prior to the Transition Date.

(ii) Fair value as deemed cost exemption

The Company has elected to measure items of property, plant and equipment and intangible assets at its carrying value at the transition date.

(iii) Investments in subsidiaries, joint ventures and associates

The Company has elected to measure investment in subsidiaries, joint venture and associate at cost.

Terms / Rights attached to Equity Shares

The Company has one class of equity shares having a par value of Rs. 10 each. Each shareholder is eligible for one vote per share held.

The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

2 Segment Reporting

As the company''s business activity fall within a single and primary business segment viz. trading and investment in shares and securities, the segment wise reporting in terms of Ind As-108 ‘Operating Segment'' is not applicable.

3 Related party disclosures for the year ended March 31, 2017 pursuant to Accounting Standard AS-18 Related Parties and their relationship:

Subsidiary Companies

Elixir Equities Pvt. Ltd.

Dipan Mehta Commodities Pvt. Ltd.

Elixir Wealth Management Pvt. Ltd.

Key Management Personnel and their relatives

Ms. Radhika Mehta Mr. Dipan Mehta Mrs. Vina Mehta

4 Events after the Reporting Period

The Board of Directors have recommended dividend of Rs. 1.25 per fully paid up equity share of Rs. 10/- each, aggregating Rs.72.50 lakhs including Rs. Nil Dividend distribution tax for the financial year 2017-18, which is based on relevent share capital as on 31st March, 2018. The actual dividend amount will be dependent on the relevent share capital outstanding as on record date/book closue.

5. The figures for the corresponding previous year have been regrouped/reclassified whereever necessary, to make them comparable.

6. Approval of Financial Statements

The Financial Statements were approved for issue by the Board of Directors on 30th May, 2018.


Mar 31, 2015

1. Contingent Liabilities Nil Nil

2. Segment Reporting (AS-17)

As the company's business activity fall within a single and primary business segment viz. trading and investment in shares and securities, the segment wise reporting in terms of Accounting Standard [AS 17) issued by the Institute of Chartered Accountants of India is not applicable

3. Figures for the previous year have been regrouped/reclassified/reinstated, wherever considered necessary.


Mar 31, 2014

1.1 28,00,000 Equity Shares issued on conversion of Share Warrants during five years preceding March 31, 2014.

2 Contingent Liabilities Nil Nil

3 Segment Reporting (AS-17)

As the company''s business activity fall within a single and primary business segment viz. trading and investment in shares and securities, the segment wise reporting in terms of Accounting Standard [AS 17) issued by the Institute of Chartered Accountants of India is not applicable.

4 Related party disclosures for the year ended March 31,2013 pursuant to Accounting Standard AS-18

Related Parties and their relationship:

Subsidiary Companies

Axis Equities Pvt. Ltd.

Dipan Mehta Commodities Pvt. Ltd.

Axis Wealth Management Pvt. Ltd

Key Management Personnel and their relatives

Ms. Radhika Mehta Mr. Dipan Mehta

5 Figures for the previous year have been regrouped/reclassified/ reinstated, wherever considered necessary.


Mar 31, 2013

1 Segment Reporting (AS-17)

As the company''s business activity fall within a single and primary business segment viz. trading and investment in shares and securities, the segment wise reporting in terms of Accounting Standard [AS 17) issued by the Institute of Chartered Accountants of India is not applicable.

2 Related party disclosures for the year ended March 31, 2013 pursuant to Accounting Standard AS-18

Related Parties and their relationship: Subsidiary Companies

Axis Equities Pvt. Ltd.

Dipan Mehta Commodities Pvt. Ltd.

Axis Wealth Management Pvt. Ltd

Key Management Personnel and their relatives

Mrs. Radhika Mehta Mr. Dipan Mehta


Mar 31, 2012

(a) The Company allotted 28,00,000 equity shares of Rs. 10 each at a premium of Rs. 23.30 per share on 12th August 2011 against conversion of 28,00,000 Fully Convertible Share Warrants. The said shares have been listed at the Bombay Stock Exchange Limited (BSE).

1 Segment Reporting (AS-17)

As the company's business activity fall within a single and primary business segment viz. trading and investment in shares and securities, the segment wise reporting in terms of Accounting Standard [AS 17) issued by the Institute of Chartered Accountants of India is not applicable.

2 Related party disclosures for the year ended March 31, 2012 pursuant to Accounting Standard AS-18

[1] Related Party and their relationship Subsidiary Companies Axis Equities Pvt. Ltd.

Dipan Mehta Commodities Pvt. Ltd.

Axis Wealth Management Pvt. Ltd Key Management Personnel and their relatives Mrs. Radhika Mehta Mr. Dipan Mehta

3 Figures for the previous year have been regrouped/reclassified/reinstated, wherever considered necessary.


Mar 31, 2010

A] In the opinion of the board, Current Assets, Loans and Advances are approximately of the value stated, if realized in the ordinary course of business. The provision of all known liabilities is adequate and not in excess of the amount reasonably necessary.

B] As the companys business activity fall within a single and primary business segment viz. trading and investment in sh and securities, the segment wise reporting in terms of Accounting Standard (AS-17) issued by the Institute of Charte Accountants of India is not applicable.

C] Related party disclosures for the year ended March 31,2010 pursuantto Accounting Standard As-18 [1] Related Party and their relationship

Associates

Dipan Mehta Share & Stock Brokers Pvt. Ltd.

Dipan Mehta Commodities Pvt. Ltd.

Exacta Investments Pvt. Ltd.

Key Management Personnel and their relatives

Mrs. Radhika Mehta

Mr.Dipan Mehta

D] Previous Years figures have been regrouped and recast wherever necessary.

E] The company is dealing in shares and securities. Therefore information required under paragraph 3,4D and 4D of the Schedules VI of the Companies Act, 1956 are not applicable.

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