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Notes to Accounts of Hind Aluminium Industries Ltd.

Mar 31, 2016

1. The equity share holders of the Company are entitled to receive final dividend as declared and approved by the Board of Directors and/ or the share holders of the Company. The dividend so declared will be in proportion to the number of equity shares held by the share holders.

2. In the event of the liquidation of the Company, equity share holders will be entitled to receive remaining assets of the company. The distribution will be in proportion to the number of equity shares held by the share holders.

3. Details of Share Holders holding more than 5% of Equity Shares as at March 31, 2016 are as under:

4. Securities for Term Loans :

Secured by hypothecation of land, Fixed Assets.

Secured by hypothecation of Motor Car.

First and exclusive charge by way of Hypothecation of Plant & Machinery, of the company purchased and to be purchased from bank finance, situated at Village Khutali, Khanvel, Silvassa and Factory Land and Building situated at Kachigam Road, Daman.

First and exclusive charge by way of Equitable mortgage of Factory Land and Building situated at Village Khutali, Khanvel, Silvassa and Kachigam Road, Daman.

Second charge by way of Equitable mortgage of Residential property situated at Lalit Vihar, Village Khanvel, Silvassa.

First charge by way of Equitable mortgage over factory land and Hypothication of Plant & Machinary of the WTG located at 59/1, Village Akhatwade, Dist. Nandurbar.

First and exclusive charge by way of Equitable mortgage of Residential property situated at Antony,Swagat, Rajanigandha Apartments Daman and Lalit Vihar Silvassa.

Extension of charge over residual value for the WTG at village Narsewadi, Dist. Sangli and Plant & Machinery for the proposed expansion of conductor division financed by bank.

Information regarding unhedged foreign currency exposure of the company is to be shared on a quarterly basis in a form and manner acceptable to the bank.

First pari passu charge over the entire stocks and receivables of the company (both present and future).

5. Terms of repayment :

6. In equal quarterly installments.

7. 20 equal quarterly installment starting after three months from the date of first disbursement.

8. Monthly EMI.

9. There are no defaults in repayment of loan and interest thereon as on March 31, 2016 for all the loans under this head. Term Loan from HDFC Bank Ltd ,Mumbai

10. Securities for Term Loans :

Secured by Exclusive charge over solar plants of 522 KWP and 100 KWP located at SKF India Ltd. Bangaluru & SKF India Ltd, Pune respectively having value of Rs. 4,50,00,000 Lien over shares total worth Rs. 50 lakhs of Idea Cellular Ltd held by Director/Authorized signatory of the company.

11. Terms of repayment :

Repayable in quarterly installments without any moratorium from the date of 1st disbursement. Repayment would happen as: 20% in first year, 30% in second year and 50% in third year

12. Securities for Secured Loans :

First charge by way of hypothecation of entire stock of Raw materials, Work in process, Finished stock & Book debts and second charge on Plant & Machinery, Factory & Residential Building, at Silvassa.

Secured by way of Pari Passu Charge on all present and future current assets of the Company.

Secured by Hypothecation of all chargeable current assets of the company on Pari Passu basis with other working capital bankers.

First charge by way of Equitable mortgage over factory land and Hypothecation of Plant & Machinery of the WTG located at No. 275, survey No. 818 of Village Narsewadi, Dist. Sangli.

First charge by way of Hypothecation of Plant & Machinery of the company purchased and to be purchased out of bank''s finances at Village Khutali, Khanvel, Silvassa.

There are no defaults in repayment of loan and interest thereon as on March 31, 2016 for all the loans under this head.

Fixed Deposit of Rs. 5,00,000 under lien in place of SCB''s mortgage on residential flats.

13. Terms of repayment of loans :

Cash Credit on Demand.

WCDL -Principal amount to be repaid as bullet payment on maturity date._

14. As per information & explanation given there was no amount due to small scale under taking exceeding Rs. 1 Lakh each 30 days outstanding for more than 30 days at the close of the year. This disclosure is based on the document/information available from the company regarding their status of the small scale undertaking.

15. The above information has been compiled in respect of parties to the extent to which they could be identified as Micro, Small and Medium Enterprises on the basis of information available with and explanations given by the Company.

16. The Company has invested Rs.5,00,000/-in Hind Power Products Pvt Ltd,a wholly owned subsidiary of the company.

There is no diminution in the value of investment. The Company has not carried out any activity during the year.

17. a The aggregate amount of quoted investments is Rs. 1,63,545/-(previous year Rs..1,63,545/-) and the market value thereof is Rs. 6,87,920/- [previous year Rs. 6,36,879/-] b The aggregate amount of unquoted investments is Rs. 11,18,32,296/-(previous year Rs. 11,18,32,296/-) c The equity of ,Associated Industries Ltd SFZ., is Rials Omani 23,10,000.The Shareholding pattern in the said Joint Venture is as under:

Note : 18

The Company has formed its subsidiary i.e. Hind Aluminium Industries (Kenya) Ltd., on 27th day of August, 2015 with an authorized share capital of 1000 shares of KES 100 each. However there were no activity carried out by the said subsidiary during the period from 27/08/2015 to 31/03/2016. The share capital was subscribed on 4th April, 2016 and 24th May,2016 respectively. The amount spent on their behalf by the company towards pre- operative expenses is shown as recoverable from the said subsidiary in note no. 15. The shareholding pattern of the company is as under:

19. Name of the Related Party and Nature of the Related Party Relationship :

Associates & Subsidiary Companies/concerns :

20. Associates

Associated Aluminium Industries Pvt Ltd.

Associated Aluminium Products Pvt Ltd.

Nirav Commercials Ltd.

Associated Non-Ferrous Metals Pvt Ltd.

Dynavent Airsystems Pvt Ltd.

Shubhmangal Portfolio Pvt. Ltd.

Dnyaneshwar Hydreed Seeds Co.Pvt Ltd.

Urvi Estate Pvt.Ltd.

Babydoll Wizkid Communication Pvt Ltd Daga Capital Management Pvt Ltd Associated Industries Ltd. SFZ., Oman

21. Subsidiary Companies

Hind Power Products Pvt Ltd.

Hind Alumunium Industries (Kenya) Ltd.

22. Directors and their relatives :

Shri Lalit Kumar Daga - Chairman

Shri Shailesh Daga - Managing Director (S/o Shri Lalit Kumar Daga - Chairman)

The Board of Directors, in its meeting held on 6th June,2016 recommended the final dividend of Rs. 1.60 per equity share. If the same is approved by the share holders in the annual general meeting, there will be an appropriation of Rs. 1,21,32,437/- from surplus out of which Rs. 1,00,80,320/- as proposed dividend and Rs. 20,52,117/- as net corporate dividend tax.

Note : 23 - Corporate Social Responsibility (CSR):

The Company has not spent the required amount in terms of provisions of section 135 of the companies, Act 2013 on Corporate Social Responsibility. During the year the company has incurred an amount towards the above mentioned activities as under:

24. Gross amount required to be spent by the company during the year Rs.. 21,01,716/- (previous year Rs. 17,20,328/-)

25. Amount spent during the year by the company Rs. 10,10,000/- (previous year 93,400/-).Indirectly Expended through donation to Charitable Trust Rs. 10,10,000/-.

Note : 26 The Original certificate of NSC VIth issue deposited with sales tax office, Daman (U.T.) as security for registration is yet to be encashed after maturity.

Note : 27 Miscellaneous Expenses shown in Note- 23 for Other Expenses includes sundry balances written off Rs. 2,03,576/-(Previous year Rs. 88,315/-) and Other Non Operating Income shown in Note no. 18 includes Miscellaneous balances written back (net) Rs..4,33,716/-(Previous Year Rs. 3,23,483).

Note : 28 The price variation claim of Rs. 1,24,26,169/- (previous year Rs. Nil) is reduced from sales and sundry debtors during the year under review as the same is not accepted and confirmed by the customer.

Note : 29 Certain balances in respect of Unsecured Loans, Sundry Debtors, Sundry Creditors and Loans & Advances are subject to confirmation by respective parties.

Note : 30 Previous year''s figures have been regrouped / rearranged wherever necessary to confirm to the current year grouping.


Mar 31, 2015

A The equity share holders of the Company are entitled to receive final dividend as declared and approved by the Board of Directors and/ or the share holders of the Company. The dividend so declared will be in proportion to the number of equity shares held by the share holders.

B In the event of the liquidation of the Company, equity share holders will be entitled to receive remaining assets of the company after distribution of all preference share holders. However, no such Preference share capital exist during the year. The distribution will in proportion to the number of equity shares held by the shareholders.

A Securities for Term Loans :

a Secured by hypothecation of land, Fixed Assets.

b First and exclusive charge by way of Hypothecation of Plant & Machinery situated at Village Khutali, Khanvel, Silvassa and Factory Landand Building situated at Kachigam Road, Daman. '

First and exclusive charge by way of Equitable mortgage of Factory Land and Building situated at Village Khutali, Khanvel, Silvassa and Kachigam Road, Daman.

Second charge by way of Equitable mortgage of Residential property situated at Lalit Vihar, Village Khanvel, Silvassa.

First and exclusive charge by way of Equitable mortgage of Residential property situated at Antony, Swagat, Rajanigandha Apartments Daman and Lalit Vihar Silvassa.

B Terms of repayment:

a In equal Quarterly Installment

b 20 equal quarterly installment starting after three months from the date of first disbursement.

C There are no defaults in repayment of loan and interest thereon as on March 31, 2015 for all the loans under this head.

Term Loan from HDFC Bank Ltd .Mumbai A Securities for Term Loans:

Secured by Exclusive charge over solar plants of 522 KWP and 100 KWP located at SKF India Ltd.Bangaiuru & SKF India Ltd, Pune respectively having value of Rs. 45 Mio. Lien over shares total worth Rs. 50 lakhs of Idea Cellular Ltd held by Director/Authorised Signatory.

B Terms of repayment:

Repayable in quarterly installments without any moratorium from the date of 1st disbursement. Repayment would happen as: 20% in first year, 30% in second year and 50% in third year.

C The loan was disbursed on 18th March, 2015 and hence the same was not due for repayment as on March 31, 2015.

A First charge by way of hypothecation of entire stock of Raw materials, Work in process, Finished stock & Book debts and second charge on Plant & Machinery, Factory & Residential Building, at Silvassa.

B Secured by way of Pari Passu Charge on all present and future current assets of the Company.

C Secured charge by way of Hypothication of all chargeable current assets of the company on Pari Passu basis with other working capital bankers.

First charge by way of Equitable mortgage over factory land and Hypothication of Plant & Machinary of the WTG located at No. 275, survey No. 818 of Village Narsewadi, Dist. Sangli.

First charge by way of Hypothecation of Plant & Machinery of the company purchased and to be purchased out of bank's finances at Village Khutali, Khanvel, Silvassa.

D There are no defaults in repayment of loan and interest thereon as on March 31,2015 for all the loans under this head.

E Buyers' Credit from ICICI Bank Ltd, Mumbai of Rs. 83,08,699/-was disbursed on 21st January,2015 for 159 days and

A. Name of the Related Party and Nature of the Related Party Relationship :

Associates & Subsidiary Companies/concems :

a) Associates

Associated Aluminium Industries Pvt. Ltd. Nirav Commercials Ltd.

Associated Aluminium Products Pvt. Ltd Shubhmangal Portfolio Pvt. Ltd.

Associated Non-Ferrous Metals Pvt. Ltd. Urvi Estate Pvt. Ltd.

Dynavent Airsystems Pvt. Ltd. Babydoll Wizkid Communication Pvt. Ltd.

Dnyaneshwar Hybreed Seeds Co. Pvt. Ltd.

b) Subsidiary Company /Joint Venture Company

Hind Power Products Pvt. Ltd.

Associated industries Ltd. SFZ.

c) Directors and their relatives :

Shri Lalit Kumar Daga - Chairman

Shri Shailesh Daga - Managing Director & son of Chairman

Note: 2 - Distribution of Proposed Dividend:

The Board of Directors, in its meeting held on 30th May,2015 recommended a final dividend of Rs.1.50 per equity share. If the same is approved by the share holders in the annual general meeting, there will be an appropriation ofRs. 1,13,74,077/- from surplus out of which Rs. 94,50,300/- as proposec dividend and Rs. 19,23,777/- as net corporate dividend tax.

Note : 3- National saving certificate VI issued deposited with sales tax office, Daman (U.T.) as security for registration is yet to be encashed after maturity.

Note: 4- Miscellaneous Expenses shown in Note- 23 for Other Expenses includes sundry balance written off Rs. 88,315 /- (Previous year Rs. 1,41,574/) and Other Non Operating Income shown in Note no. 18 includes Miscellaneous balances written back (net) Rs.,3,23,483 (Previous YearRs. 1,535)

Note : 5- Certain balances in respect of Unsecured Loans, Sundry Debtors, Sundry Creditors and Loans & Advances are subject to confirmation by respective parties.

Note: 6-The Company has not spent the required amount in terms of provisions of section 135 of the Act on Corporate Social Responsibility.

Note : 7 -The price variation claim of Rs.Nil -(Previous year Rs. 2,56,81,011 /-) is written off by deducting from sales during the year under review as the same is not accepted and confirmed by the customer.

Note: 8 Previous year's figures have been regrouped / rearranged wherever necessary to confirm to the current year grouping.


Mar 31, 2014

1. A. The equity share holders of the Company are entitled to receive final dividend as declared and approved by the Board of Directors and/or the share holders of the Company. The dividend so declared will be in proportion to the number of equity shares held by the share holders.

B. In the event of the liquidation of the Company, equity share holders will be entitled to receive remaining assets of the company after distribution of all preference share holders. However, no such Preference share capital exist during the year. The distribution will in proportion to the number of equity shares held by the share holders.

C Securities for Term Loans :

a) Secured by hypothecation of Lease hold land, Fixed Assets.

b) Secured by hypothecation of Motor Cars.

c) First and exclusive charge by way of Hypothecation of Plant & Machinery situated at Village Khutali, Khanvel, Silvassa and Factory Land and Building situated at Kachigam Road, Daman.

First and exclusive charge by way of Equitable mortgage of Factory Land and Building situated at village Khutali, Khanvel, Silvassa and Kachigam Road, Daman.

Second charge by way of Equitable mortgage of Residential property situated at Lalit Vihar, Village Khanvel, Dist. Silvassa.

First and exclusive charge by way of Equitable mortgage of Residential property situated at Antony Apts & Swagat Bldg.at Daman, Rajanigandha Apts, Vapi and Lalit Vihar, Silvassa.

D Terms of repayment :

a) In equal Quarterly Installment

b) Monthly EMI

c) 20 equal quarterly installment starting after three months from the date of first disbursement.

E There are no defaults in repayment of loan and interest thereon as on March 31,2014 for all the loans under this head.

F. First charge by way of hypothecation of entire stock of Raw materials, Work in process, Finished stock & Book debts and second charge on Plant & Machinery, Factory & Residential Building, at Silvassa.

G. Secured by way of Pari Passu Charge on all present and future current assets of the Company.

H. Secured by Hypothecations of all chargeable current assets of the company on Pari Passu basis with other working capital lenders.

First charge by way of Equitable mortgage over Factory land and Hypothecations of Plant & Machinery of the WTG located at No. 275, surve No. 818 of Village Narsewadi, Dist. Sangli.

First charge by way of Hypothecation of Plant & Machinery of the company purchased and to be purchased out of bank''s finances at Village Khutali, Khanvel, Silvassa.

I. There are no defaults in repayment of loan and interest thereon as on March 31, 2014 for all the loans under this head.

J. There was no amount due to small scale under taking exceeding Rs. 1 Lac each outstanding for more than 30 days at the close of the year. This disclosure is based on the document / information available to the company regarding their status of the small scale undertaking.

K. The above information has been compiled in respect of parties to the extent to which they could be identified as Micro, Small and Medium Enterprises on the basis of information available with and explanations given by the Company.

L. The Company has invested Rs. 5,00,000/-in Hind Power Products Pvt Ltd,a wholly owned subsidiary of the company.

There is no diminution in the value of investment. The Company has not carried out any activity during the year.

M. a The aggregate amount of quoted investments is Rs. 1,63,545/-(previous year Rs. 1,63,545/-) and the market value thereof is Rs. 4,95,566/- [previous year Rs. 4,64,040/-] b The aggregate amount of unquoted investments is Rs. 11,09,57,094/-(previous year Rs. 7,59,05,516/-) c The equity of ,Associated Industries Ltd SFZ., is USD 3 Million.The company''s holding in the said Associated Industries Ltd SFZ, is 70%. Out of the total equity the Investment made as on 31st March,2014 is 65%.i.e. 19,22,000 US $.(previous year- 45 % i.e. 13,60,800 US $.) However the company has not yet started the production activities.

*These Shares are alloted on demerger of Associated Aluminium Industries Pvt.Ltd., otherwise than in Cash.

Other Expenses :

Rent Expenses :

The Company has taken various residential / office premises under operating lease or leave and license agreement. The lease terms in respect of such premises are on the basis of individual agreement entered into with the respective landlords/owners. The Company has given refundable interest free security deposits in accordance with the agreed terms. The lease payments are recognised in the Profit and Loss account under " Rent " in Note no. 23.

End of

Particulars Current Reporting Previous Reporting Year Year March 31, 2014 March 31, 2013 Rs. Rs.

Note : 2 - Contingent Liabilities and commitment to the extent not provided for :

I) Contingent Liabilities :

a Debts considered doubtful not provided for. - 20,17,401 b In respect of guarantees given by Banks and / or counter guarantees given by the Company Unacertainable Unacertainable

c Other money for which the company is contingent liable :

In respect of Income Tax matters pending before appellate authorities which the Company expects to succeed, based on decisions of Tribunals / Courts 4,87,245 47,94,338

Note : 3 - Distribution of Proposed Dividend :

The Board of Directors, in its meeting held on 30th May,2014 recommended the final dividend of Rs. 1.50 per equity share. If the same is approved by the share holders in the annual general meeting, there will be an appropriation of Rs. 1,10,56,378/- from surplus out of which Rs. 94,50,300/- as proposec dividend and Rs. 16,06,078/- as net corporate dividend tax.

Note : 4 - National saving certificate VI issued deposited with sales tax office, Daman (U.T.) as security for registration is yet to be encashed after maturity.

Note : 5 - Miscellaneous Expenses shown in Note- 23 for Other Expenses includes sundry balance written off Rs. 1,41,574/- (Previous year Rs. 1,05,324/-) and Other Non Operating Income shown in Note no. 18 includes Miscellaneous balances written back of Rs. 1,535/- (Previous Year Rs. Nil).

Note : 6 - Certain balances in respect of Unsecured Loans, Sundry Debtors, Sundry Creditors and Loans & Advances are subject to confirmation by respective parties.

Note : 7 The price variation claim of Rs. 2,56,81,011/- is written off by deducting from sales during the year under review as the same is not accepted and confirmed by the customer.

Note : 8 Previous year''s figures have been regrouped / rearranged wherever necessary to confirm to the current year grouping.


Mar 31, 2012

Note : 1 - Deferred Tax :

A. The Net Deferred Tax Liability of Rs. 1,01,24,847/-[ Previous Year: Rs. 11,97,263/-] for the year has been provided in the Profit and Loss Account.

Note: 2 National saving certificate VI issued deposited with sales tax office, Daman (U.T.) as security for registration is yet to be encashed after maturity.

Note: 3 Miscellaneous Expenses showed in Note- 25 for Other Expenses includes excess depreciation written backRs. 3,49,169/-

(Previous year miscellaneous balances written off Rs. 3,28,397/-) and Other Non Operating Income shown in Note -19 includes Miscellaneous balances written back of Rs. 2,54,925/- (Previous Year Rs. 6,25,169/-).

Note: 4 Certain balances in respect of Unsecured Loans, Sundry Debtors, Sundry Creditors and Loans & Advances are subject to confirmation by respective parties.

Note: 5 The revised Schedule VI as notified under the Companies Act, 1956, has become applicable to the Company for presentation of its financial statements for the year ending March 31, 2012. The adoption of the revised Schedule VI requirements has significantly modified the presentation and disclosures which have been complied with these financial statements.

Previous year's figures have been reclassified in accordance with current year requirements.

Note:6 Previous year's figures have been regrouped / rearranged wherever necessary to confirm to the current year grouping.


Mar 31, 2011

1. National Saving Certificate VI issue deposited with Sales Tax Office at Daman (U.T.) as security for registration is yet to be encashed even after maturity.

2. Miscellaneous Expenses shown in Schedule - V for Administrative Expenses includes Miscellaneous balances written offof Rs. 3,28,397/- (Previous Year- Rs. 9,11,429/-) and Miscellaneous income shown in Schedule - 'H' for Other Income includes Miscellaneous balances written back Rs. 6,25,169/- (Previous Year - Rs. 2,36,842/-).

3. There was no amount due to Small Scale undertaking exceeding Rs.1 lac each outstanding for more than 30 days at the close of the year. This disclosure is based on the document/information available to the company regarding their status of the small scale undertaking.

4. During the year Company has made preferential allotment of 13,00,000 equity shares of Rs. 10/- each fully paid up at the premium of Rs. 33/- per share to parties and a company.

5. Related Party Disclosures

A) Associates:

Associated Aluminium Industries Pvt. Ltd.

Nirav Commercials Ltd.

Associated Non-Ferrous Metals Pvt. Ltd.

Daga Rubber Works Pvt. Ltd.

Dynavent Air-Systems Pvt. Ltd.

B) Key Managerial personnel:

Shailesh Daga Managing Director

6. Deferred Tax Liabilities(net)

Persuant to accounting standard (AS) 22- Accounting for taxes on income, the impact of Deferred Tax Liability (Net) for the year ended 31.03.2011 of Rs. 11,97,263/- has been credited to Profit & Loss Account.

7 Certain balances in respect of Unsecured Loans, Sundry Debtors, Sundry Creditors, and Loans & Advances are subject to confirmation by respective parties.

8 Contingent Liabilities: Income Tax Rs. 26,06,643/-.

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


Mar 31, 2010

1. National Saving Certificate VI issue is deposited with Sales Tax Office at Daman (U .T.) as security for registration.

2. Miscellaneous Expenses shown in Schedule - L for Administrative Expenses includes Miscellaneous balances written off of Rs.2,36,842/-( Previous Year-Rs. 12,35,991/-) and Miscellaneous income shown in Schedule - H for Other Income includes Miscellaneous balances written back Rs.9,11,429/- (Previous Year - Rs. 8,94,307/-).

3. There was no amount due to Small Scale undertaking exceeding Rs.1 lac each outstanding for more than 30 days at the close of the year. This disclosure is based on the document/information available to the company regarding their status of the small scale undertaking.

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