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Notes to Accounts of Fluidomat Ltd.

Mar 31, 2015

1.0 The Company has issued and subscribed equity shares having par value of Rs.10 per share. Each Shareholder is eligible for one vote per share.The dividend proposed by the Board of Directors is subject to the approval of shareholders, except in case of interim dividend, if any. In the event of liquidation, the equity shareholders are eligilble to receive the remaining assets of the Company, after distribution of all preferential amounts, in proportion of their shareholding.

1.2 Capital Reserve (2.1) includes Capital Subsidy Rs. 843504 (Previous year Rs. 843504) and Share Forefeiture amount Rs. 181450 (Previous year Rs.181450). Capital Redumption Reserve (2.2) is related to redumption of 10% Redeemable Preference Shares.

# Dividend Proposed to be distributed to Equity Shareholders is Rs.2.75 (Previous year Rs. 2.75) per Equity Share.

1.3 During the year, the Company has adopted estimated useful life of fixed assets as stipulated by Schedule II to the Companies Act,2013. Accordingly, depreciation of Rs. 3160326 on account of carrying value of fixed assets, whose useful life is already exhausted on April 01, 2014 has been adjusted against General Reserve (Rs. 2134958) and Deffered Tax Liability (Rs. 1025368).

2.1 Working capital loans are secured by hypothecation of present and future stock of raw materials, stock-in-process, finished goods, stores and spares, book debts and further secured by first charge on the immovable assets including other movable assets of the company.

2.2. Working Capital loan are secured by personal guarnatee of Mr. Ashok Jain, Chairman and Managing Director of the company and Smt. Pramila Jain.

Year Ended Year Ended 31st March, 2015 31st March, 2014 3 Contingent Liabilities and Commitments (To the extend not provided for) (As certified by the Management)

1.1 Estimated amount of contracts remaining to be executed on capital account 0 0

3.2 Contingent Liabilities

(i) Counter Guarantees given to the Bank in respect of Guarantees given by them on behalf of the company. 32320975 38041608

(ii) Demands against the Company being disputed not acknowledged as debt and not provided for in respect of :

(a) Sales Tax 4639881 4621972

(b) Labour payment 29674 14256


Mar 31, 2014

1. 471000 Equity Shares of Rs. 10/- each out of the issued, subscribed and paid up share capital were alloted to IFCI Ltd. as fully paid up for a consideration other than cash.

2 Shares redeemed during the period of five years immediately preceeding the reporting date ; 30900 10% Redeemable Preference Share of Rs. 100/- each redeemed to IFCI Ltd. on 21/01/2011.

3 The Company has issued and subscribed equity shares having par value of Rs. 10 per share. Each Shareholder is eligible for one vote per share.The dividend proposed by the Board of Directors is subject to the approval of shareholders, except in case of interim dividend, if any. In the event of liquidation, the equity shareholders are eligilble to receive the remaining assets of the Company, after distribution of all preferential amounts, in proportion of their shareholding.

4 Capital Reserve (2.1) includes Capital Subsidy Rs. 843504 (Previous year Rs. 843504) and Share Forefeiture amount Rs. 181450 (Previous year Rs. 181450). Capital Redumption Reserve (2.2) is related to redumption of 10% Redeemable Preference Shares.

# Dividend Proposed to be distributed to Equity Shareholders is Rs. 2.75 (Previous year Rs. 2.50) per Equity Share.

5 Working capital loans are secured by hypothecation of present and future stock of raw materials, stock-in- process, finished goods, stores and spares, book debts and further secured by first charge on the immovable assets including other movable assets of the company.

6 Working Capital loan are secured by personal guarantee of Mr. Ashok Jain, Chairman and Managing Director of the company and Smt. Pramila Jain.

7 The company has issued letter to supplier or service providers for their status whether they are covered under the "Micro ,Small and Medium Enterprises (Development) Act, 2006. We have been informed by Management that no such status replied by parties and therefore, it is not possible to give the information required under the Act.

# Balance with Banks includes Unclaimed Dividend of Rs. 1085747/- (Previous Year Rs. 521967/-)

* Fixed Deposit with Banks include Deposits of Rs. 88513129/- (Previous Year Rs. 44943690/- ) with maturity of more than 12 months and Rs. 4273343/- (Previous Year Rs. 4042714/-) as margin money against Bank Guarantee.

8 Contingent Liabilities and Commitments (To the extend not provided for) (As certified by the Management)

9 Previous year figures have been regrouped and/or rearranged wherever considered necessary.


Mar 31, 2012

1.1 471000 Equity Shares of Rs. 10/- each out of the issued, subscribed and paid up share capital were alloted to IFCI Ltd. on 30.10.2003 as fully paid up pursuant to the restructuring package for a consideration other than cash.

1.2 Shares redeemed during the period of five years immediately preceeding the reporting date ; 30900 10% Redeemable Preference Share of Rs.100/- each redeemed to IFCI Ltd. On 21/01/2011.

1.3 The details of shareholders holding more than 5% Shares :

1.5 The Company has issued and subscribed equity shares having par value of Rs.10 per share. Each Shareholder is eligible for one vote per share. The dividend proposed by the Board of Directors is subject to the approval of shareholders, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligilble to receive the remaining assets of the Company, after distribution of all preferential amounts, in proportion of their shareholding.

2.5 Capital Reserve (2.1) includes Capital Subsidy Rs. 843504 (Previous year Rs. 843504) and Share Forefeiture amount Rs. 181450 (Previous year Rs. 181450). Capital Redumption Reserve (2.2) is related to redumption of 10% Redeemable Preference Shares.

# Dividend Proposed to be distributed to Equity Shareholders is Rs. 1.25 (Previous year Re. 1) per Equity Share.

3.1 Working capital loans are secured by hypothecation of present and future stock of raw materials, stock-in-process, finished goods, stores and spares, book debts and further secured by first charge on the immovable assets including other movable assets of the company.

3.2 Vehicle loans are secured by hypothecation of related vehicles.

3.3 The above mentioned loans are also secured by personal guarnatee of Mr. Ashok Jain,Chairman and Managing Director of the company (For working capital facilities Smt. Pramila Jain has also extended her personal guarantee.)

4.1 The company has issued letter to supplier or service providers for their status whether they are covered under the "Micro ,Small and Medium Enterprises (Development) Act, 2006. No such status replied by parties and therefore, it is not possible to give the information required under the Act.

Year ended Year ended

31st March, 2012 31st March, 2011

Rupees Rupees

5 Contingent Liabilities and Commitments

(To the extend not provided for)

(As certified by the Management)

5.1 Estimated amount of contracts remaining to be executed on capital account 2450000 Nil

5.2 Contingent Liabilities

(i) Counter Guarantees given to the Bank in respect of Guarantees given by them on behalf of the company. 22529065 19371849

(ii) Demands against the Company being disputed not acknowledged as debt and not provided for in respect of :

(a) Income Tax 0 59354

(b) Sales Tax 1175705 149547

(c) Labour payment 14256 35007

(d) Central Excise # 5312806 2642472

# Show cause notice received from department and duly replied.

6 The financial statement for the year ended 31st March, 2011 had been prepared as per the then applicable, pre-revised schedule VI to the Companies Act, 1956. Consequent to the notification under the Compnies Act, 1956, the financial statements for the year ended 31st March, 2012 are prepared under revised sechdule VI . Accordingly, the previous year figures have also been reclassified to confirm to current years classifications.

7 Significant Accounting policies & practices adopted by the company are disclosed in the statement annexed to these financial statements as annexure 1.


Mar 31, 2010

AS AT AS AT

31.03.2010 31.03.2009

01) (i) Contingent liabilities not provided tor in respect ot: (As certified by the Management) Counter Guarantees given to the Bank in respect of Guarantees given by them on behalf of the company. 1,50,70,009 1,27,34,760 Margin money Rs. 16,00,000/- (40,00,000/-)

(ii) Demands against the Company being disputed not acknowledged as debt and not provided for in respect of which the Company is in appeal :

(a) Income Tax Demands 59,354 59,354

(b) Sales Tax Demands 84,682 49,033

(c) Labour payment 35,007 24,567



02) The Company has not received any information from suppliers or service providers, whether they are covered under the "Micro, Small and Medium Enterprises (Development) Act, 2006". Therefore, it is not possible to give the information required under the Act.

03) Earning Per Share (EPS)

As per Accounting Standard-20 Basic Earning per share is Rs. 3.90 whereas the diluted earning per share is Rs.3.53. The following is a reconciliation of the equity shares used in computation of basic & diluted earning per equity share :

04) Segment Reporting :

Since the Company operates in one segment only, segment reporting as required under Accounting standard 17 issued by the Institute of Chartered Accountants of India is not applicable. There is no reportable geographical Segment either.

05) The figures have been rounded off to the nearest rupees.

06) Previous year figures have been regrouped and/or rearranged wherever considered necessary.

07) Additional information pursuant to Part II & III of Schedule VI of the Companies Act, 1956.

* As the individual value of each item of components and other does not exceed 10% of total consumption, the quantity there of has not been given.

Figures in brackets related to previous year ended as at 31.03.2009

08) Related Party disclosures: (As required under Accounting Standard 18)

09) Schedule 1 to 20 form an integral part of Balance Sheet and Profit and Loss Account and have been duly authenticated.

10) Additional information pursuant to Part IV of Schedule VI of the Companies Act, 1956.

 
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