Mar 31, 2015
1) Company Profile:
The company is engaged in manufacturing and trading activity and has
two business segments, viz. Agricultural Equipments and Bearings
(Forged Rings). It trades in Agricultural Equipments while manufactures
as well as does job work of Bearings.
2.the company has only one class of shares referred to as ordinary
equity share having a face value of Rs.10 Each shareholders is entiled
to one vote per share.
3. Contingent liabilities and commitments (to the extent not provided
for)
For the year ended For the year ended
Particulars 31.03.2015 31.03.2014
Contingent liabilities:
Forward U.S. Dollar Contracts
with Marwadi Shares & Finance 2,347,373 4,525,188
Limited
(ii) Secondary Segment Information:
The following Geographic Segments individually contributed 10% or more
of the Company's revenues in the previous year.
4. Related Party Disclosures
As per Accounting Standard 18, the disclosures of transactions with
the related parties are given
5. List of related parties with whom transactions have taken place
and relationships;
Sr Name of the Related Party Relationship
No.
1. Nathabhai J. Sadariya
2. Sanjay J. Patel Key Managerial Personnel
3. Manoj H. Shah
4. Jitendra H. Shah
5. Nayna A. Shah
6. Kantaben J. Patel Relatives of KMP
7. Devkuvarben N. Sadaria
8. Ashwin H. Shah
9. Accumax Rings Limited Subsidiary
6. Other Disclosures
7. The outstanding balances as al 31st March, 2015 in respect of
Trade receivables, Trade payables, Loans 6 Advances and other payables
& receivables are subjected to confirmation from respective parties and
consequential reconciliation and/or adjustments arising there from, If
any. The Management, however, does not expect any material variation.
8. The company has requested the suppliers to give info-nation about
their status as Micro, Small ard Medium Enterprises as defied under the
MSMED Act, 2006. In the absence of this information. Company is unable
to provide the details in Trade Payab les regarding the overdues to
such Enterprise
9. According to the opinion of the management of the Company, the
value of realization of Trade & Other Receivables and Leans & Advances
given in the ordinary course of business would not be less than toe
amount at which they are stated In the Balance sheet.
Mar 31, 2014
1. Contingent liabilities and commitments (to the extent not provided
for)
Year ended Year ended
Particulars 31st March, 2014 31st March, 2013
Contingent liabilities
Forward U.S. Dollar Contracts 4,525,188
with Marwadi Shares &
Finance Limited
2. Segment Information
The company has identified Business Segments as its primary segment and
Geographic Segments as its secondary segment.
Business Segments include: Agricultural Equipments and Forged Rings
(Bearings).
Revenues and Expenses directly attributable to segments are reported
under each reportable segment. Expenses which are not directly
identifiable to a particular segment have been allocated on the basis
of associated revenues of the segments. All other expenses which relate
to enterprise as a whole and are not attributable / allocable to a
segment on reasonable basis have been disclosed as "Unallocable".
Assets and Liabilities that are directly attributable / allocable to
segments are disclosed under each reportable segment. All other assets
and liabilities are disclosed as unallocable. Fixed assets that are
used interchangeably among segments are not allocated to primary and
secondary segments.
Geographical revenues are allocated based on the location of the
customer. Geographical Segments of the company are ''''Within IndiaÂ
and "Outside India",
3. Other Disclosures
3.1. The outstanding balances as at 31st March, 2014 in respect of Trade
receivables, Trade payables, Loans & Advances and other payables &
receivables are subjected to confirmation from respective parties and
consequential reconciliation and/or adjustments arising there from, if
any. The Management, however, does not expect any material variation.
3.2 The company has requested the suppliers to give information about
their status as Micro, Small and Medium Enterprises as defined under
the MSMED Act, 2006. In the absence of this information, Company is
unable to provide the details in "Trade Payables" regarding the
overdues to such Enterprises.
3.3 According to the opinion of the management of the Company, the
value of realization of Trade & Other Receivables and Loans & Advances
given in the ordinary course of business would not be less than the
amount at which they are stated in the Balance sheet.
Mar 31, 2013
1. Contingent liabilities and commitments (to the extent not provided
for)
Year ended Year ended
particulars 31st March, 2013 31st March, 2012
Contingent liabilities - -
Estimated amount of-Contracts
remaining to be executed
on Capital Account
2. Segment Information
The company has identified Business Segments as its primary segment and
Geographic Segments as its secondary segment.
Business Segments include: Agricultural Equipments and Forged Rings
(Bearings).
Revenues: and Expenses directly attributable to segments are reported
under each reportable segment. Expenses which are not directly
identifiable to a particular segment have been allocated on the basis
of associated revenues of the segments. All other expenses which relate
to enterprise as a whole and are not attributable / allocable to a
segment on reasonable basis have been disclosed as "Unallowable".
Assets and Liabilities that are directly attributable / allocable to
segments are disclosed under each reportable segment All other assets
and liabilities are disclosed as unallowable. Fixed assets that are
used interchangeably among segments are not allocated to primary and
secondary segments.
Geographical revenues are allocated based on the location of the
customer. Geographical Segments of the company are "Within India" and
"Outside India"
3. Other Disclosures
3.1 The outstanding balances as at 3ist March, 2013 in respect of
Trade receivables, Trade payables, Loans & Advances and other payables
& receivables are subjected to confirmation from respective parties and
consequential reconciliation and/or adjustments arising there from, if
any. The Management, however, does not expect any material variation.
3.2 The company has requested the suppliers to give information about
their status as Micro, Small and Medium Enterprises as defined under
the MSMED Act, 2006. In the absence of this information, Company is
unable to provide the details in "Trade Payables" regarding the
over dues to such Enterprises.
3.3 According to the opinion of the management of the Company, the
value of realization of Trade & Other Receivables and Loans & Advances
given in the ordinary, course of business would not be less than the
amount at which they are stated in the Balance sheet.
Mar 31, 2012
Particulars 2011-12 2010-11
1.1 Contingent liabilities not provided for - -
1.2 Estimated amount of Contracts remaining to
be executed on Capital Account - -
1.3 The outstanding balances as at 31.03.2012 in respect of certain
Sundry Debtors, Sundry Creditors, Loans and Advances and deposits are
subjected to confirmation from respective parties and consequential
reconciliation and/or adjustments arising there from, if any. The
Management, however, does not expect any material variation.
1.4 According to the opinion of the Management the value of
realization of current assets, loans and advances and other receivables
in the ordinary course of business would not be less than the amount at
which they are stated in the Balance Sheet.
1.5 The Revised Schedule VI notified under the Companies Act, 1956 has
become effective from 1st April, 2011 for the preparation and
presentation of financial statements. This has significantly impacted
the disclosure and presentation made in the financial statements.
Previous year's figures have been regrouped/reclassified/amended
wherever necessary in accordance with the requirements applicable in
the current year.
2. Segment Reporting
The company has identified Business Segments as its primary segment and
Geographic Segments as its secondary segment.
Business Segments include Agricultural Equipments and Bearings.
Revenues and Expenses directly attributable to segments are reported
under each reportable segment. Expenses which are not directly
identifiable to a particular segment have been allocated on the basis
of associated revenues of the segments. All other expenses which are
not attributable / allocable to segments have been disclosed as
unallocable.
Assets and Liabilities that are directly attributable / allocable to
segments are disclosed under each reportable segment. All other assets
and liabilities are disclosed as unallocable. Fixed assets that are
used interchangeably among segments are not allocated to primary and
secondary segments.
Geographical revenues are allocated based on the location of the
customer. Geographical Segments of the company are Within India and
Outside India.
Mar 31, 2010
I. Segment Reporting:
The Company is engaged in the manufacturing of Bearing Rings. It was
previously engaged in manufacturing of Agricultural implements. However
the company has sold off majority of the plant and machinery used for
manufacturing agricultural implements and is focused on manufacturing
bearing rings. In view of the same, the management has not shown the
Agricultural implements as a separate segment for the purpose of
Segment Reporting under AS-17.
II. The company has requested the suppliers to give information about
their status as Micro, Small & Medium Enterprise as defined under the
MSMED Act, 2006. In the absence of this information company is unable
to provide details regarding the overdue to such Enterprise.
III. The outstanding balances as at 31.03.2010 in respect of certain
Sundry Debtors, Sundry Creditors, Loans & Advances and deposits are
subjected to confirmation from respective parties and consequential
reconciliation and or adjustments arising there from, if any. The
Management, however, does not expect any material variation.
IV. According to the opinion of the Management the value of
realization of current assets, loans & advances and other receivables
in the ordinary course of business would not be less than the amount at
which they are stated in the Balance Sheet.
V. Contingent liabilities not provided for: NIL
VI. Previous years figures have been regrouped/rearranged wherever
necessary to make them comparable.
VII. Schedules 1 to 16 forms an integral part to the financial
statements and have been authenticated.
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