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Notes to Accounts of Incap Ltd.

Mar 31, 2015

1. Secured Loans : Working capital facilities from banks are secured by hypothecation of stocks of raw materials, semi finished goods, finished goods, stores and spares and book debts and first charge on Fixed Assets of the company in favour of State Bank of India, Patamata Branch, Vijayawada and State Bank of Hyderabad, Governorpet Branch, Vijayawada on pari passu basis.

2. Current Assets and Current Liabilities : Sundry Debtors, Loand and Advances and Sundry Creditors balance are subject to confirmation by the parties. Fixed Deposits with Banks to the extent of Rs. 12.46 Lakhs are pledged with bankers towards margin money for Letters of Credit and Rs.52.49 Lakhs are pledged with banker towards margin for Bank Guarantees.

3. No amount is due to any small-scale industry in excess of Rs. 1,00,000 or more than 30 days.

4. Provision is made for regular Income tax as per provisions of Income Tax Act, 1961. Deferred Tax:

Deferred Tax is computed on the timing differences as per Accounting Standard-22 issued by the ICAI.

The major and only component of Deferred Tax liability is the difference between Depreciation charges in books & Depreciation claimed as per Income Tax Act, 1961.

5. Segment Reporting: The Company is primarily engaged in the business of manufacturing both AC and DC volts Aluminium Electrolytic Capacitors. Since the nature of the activities is governed by the same nature of risks, these are grouped as single segment.

6. In the absence of any claim under interest on delayed payments to Small Scale and Ancillary Industries Undertaking Act, 1993 the Company did not make any provisions for such payment.

7. Excise Duty: Provision has been made for the excise duty payable on finished goods not cleared from the factory amounting to Rs. 10.26 Lakhs. CENVAT credit has been taken to the extent utilized for clearance of finished goods.

8. Gratuity has been funded through the scheme administered by Life Insurance Corporation of India. 10.There is no impairment of assets.

9. Related party transactions:


Mar 31, 2014

1. Contingent Liabilities :

(Rs. in Lakhs)

Particulars 2013-2014 2012-2013

Letter of Credit - 185.48

Bank Gurarantees 287.84 248.50

Total 287.84 433.98

2. Secured Loans: Working capital facilities from banks are secured by hypothecation of stocks of raw materials, semi finished goods, finished goods, stores and spares and book debts and first charge on Fixed Assets of the Company in favour of State Bank of India, Patamata Branch, Vijayawada and State Bank of Hyderabad, Governorpet Branch, Vijayawada on pari passu basis.

3. Current Assets and Current Liabilities: Sundry Debtors, Loans and Advances and Sundry Creditors balance are subject to confirmation by the parties. Fixed Deposits with Banks to the extent of Rs. 31.27 Lakhs are pledged with bankers towards margin money for Letters of Credit and Rs.57.07 Lakhs are pledged with banker towards margin for Bank Guarantees.

4. No amount is due to any small-scale industry in excess of Rs.1,00,000 or more than 30 days.

5. Provision is made for regular Income tax as per provisions of Income Tax Act, 1961.

The major and only component of Deferred Tax liability is the difference between Depreciation charges in books & Depreciation claimed as per Income Tax Act, 1961.

6. Segment Reporting: The Company is primarily engaged in the business of manufacturing both AC and DC volts Aluminium Electrolytic Capacitors. Since the nature of the activities is governed by the same nature of risks, these are grouped as single segment.

7. In the absence of any claim under interest on delayed payments to Small Scale and Ancillary Industries Undertaking Act, 1993 the Company did not make any provisions for such payment.

8. Excise Duty: Provision has been made for the excise duty payable on finished goods not cleared from the factory amounting to Rs.10.26 Lakhs. CENVAT credit has been taken to the extent utilized for clearance of finished goods.

9. Gratuity has been funded through the scheme administered by Life Insurance Corporation of India.


Mar 31, 2013

1. Contingent Liabilities :

(Rs. in Lakhs) Particulars 2012-2013 2011-2012

Letter of Credit 185.48 58.89

Bank Gurarantees 248.50 385.73

Total 433.98 444.62

2. Secured Loans: Working capital facilities from banks are secured by hypothecation of stocks of raw materials, semi finished goods, finished goods, stores and spares and book debts and first charge on Fixed Assets of the Company in favour of State Bank of India, Patamata Branch, Vijayawada and State Bank of Hyderabad, Governorpet Branch, Vijayawada on pari passu basis.

3. Current Assets and Current Liabilities: Sundry Debtors, Loans and Advances and Sundry Creditors balance are subject to confirmation by the parties. Fixed Deposits with Banks to the extent of Rs. 31.27 Lakhs are pledged with bankers towards margin money for Letters of Credit and Rs.57.07 Lakhs are pledged with banker towards margin for Bank Guarantees.

4. No amount is due to any small-scale industry in excess of Rs.1,00,000 or more than 30 days.

5. Provision is made for regular Income tax as per provisions of Income Tax Act, 1961.

The major and only component of Deferred Tax liability is the difference between Depreciation charges in books & Depreciation claimed as per Income Tax Act, 1961.

6. Segment Reporting: The Company is primarily engaged in the business of manufacturing both AC and DC volts Aluminium Electrolytic Capacitors. Since the nature of the activities is governed by the same nature of risks, these are grouped as single segment.

7. In the absence of any claim under interest on delayed payments to Small Scale and Ancillary Industries Undertaking Act, 1993 the Company did not make any provisions for such payment.

8. Excise Duty: Provision has been made for the excise duty payable on finished goods not cleared from the factory amounting to Rs.10.91 Lakhs. CENVAT credit has been taken to the extent utilized for clearance of finished goods.

9. Gratuity has been funded through the scheme administered by Life Insurance Corporation of India.

10. There is no impairment of assets.


Mar 31, 2012

1. Contingent liabilities : (Rs. in Lakhs)

Particulars 2011-12 2010-11

Letter of Credit 58.89 135.27

Bank Guarantees 385.73 426.81

Corporate Guarantee _ _

Total 444.62 562.08



2. Secured Loans: Working capital facilities from banks are secured by hypothecation of stocks of raw materials, semi finished goods, finished goods, stores and spares and book debts and first charge on Fixed Assets of the Company in favour of State Bank of India, Patamata Branch, Vijayawada and State Bank of Hyderabad, Governorpet Branch, Vijayawada on pari passu basis.

3. Current Assets and Current Liabilities : Sundry Debtors, Loans and Advances and Sundry Creditors balances are subject to confirmation by the parties. Fixed Deposits with Banks to the extent of Rs. 16.22 Lakhs are pledged with bankers towards margin money for Letters of Credit and Rs.50.00 Lakhs are pledged with bankser towards margin for Bank Guarantees.

4. No amount is due to any small-scale industry in excess of Rs. 1,00,000 or more than 30 days.

5. Provision is made for regular Income Tax as per the provisions of Income Tax Act, 1961.

6. Segment Reporting : The Company is primarily engaged in the business of manufacturing both AC and DC volts Aluminium Electrolytic Capacitors. Since the nature of the activities is governed by the same nature of risks, these are grouped as single segment.

7. In the absence of any claim under interest on delayed payments to Small Scale and Ancillary Industries Undertaking Act, 1993 the Company did not make any provisions for such payment.

8. Excise Duty : Provision has been made for the excise duty payable on finished goods not cleared from the factory amounting to Rs. 8.91 Lakhs. CENVAT credit has been taken to the extent utlised for clearance of finished goods.

9. Gratuity has been funded through the scheme administered by Life Insurance Corporation of India.

10. There is no impairment of assets.

11.1 State subsidy amount current year transferred to Other Income Rs. 76,608/-

11.2 Preferential Share Warrants forfeited amount of Rs. 800000/- added to Capital Reserve and Share Premium of Rs. 224000/- transfer to Share premium account.

12.1 Working Capital from banks is secured by hypothecation of movable assets including inventories and assignment of receivables, personal guarantees of Directors of the Company and Fixed assets of the Company.


Mar 31, 2011

1. Contingent liabilities :

Particulars 2010 - 11 2009 - 10

Letter of Credit 135.27 182.56

Bank Guarantees 426.81 58.19

Corporate Guarantee - 227.95

Total 562.08 468.70

2. Secured Loans : Working capital facilities from banks are secured by hypothecation of stocks of raw materials, semi finished goods, finished goods, stores and spares and book debts and first charge on Fixed Assets of the Company in favour of State Bank of India, Patamata Branch, Vijayawada and State Bank of Hyderabad, Governorpet Branch, Vijayawada on pari passu basis.

3. Current Assets and Current Liabilities : Sundry Debtors, Loans and Advances and Sundry Creditors balances are subject to confirmation by the parties. Fixed Deposits with Banks to the extent of Rs. 97.54 Lakhs are pledged with bankers towards margin money for Letters of Credit and Bank Guarentees.

4. No amount is due to any small-scale industry in excess of Rs. 1,00,000 or more than 30 days.

5. Segment Reporting : The Company is primarily engaged in the business of manufacturing both AC and DC volts Aluminium Electrolytic Capacitors and Silicon Rubber Insulators. Since the nature of the activities is governed by the same nature of risks, these are grouped as single segment.

6. In the absence of any claim under interest on delayed payments to Small Scale and Ancillary Industries Undertaking Act, 1993 the Company did not make any provisions for such payment.

7. Excise Duty : Provision has been made for the excise duty payable on finished goods not cleared from the factory amounting to Rs. 10.31 Lakhs. CENVAT credit has been taken to the extent utilised for clearance of finished goods.

8. Gratuity has been funded through the scheme administered by Life Insurance Corporation of India.

9. There is no impairment of assets.


Mar 31, 2010

1. Contingent liabilities :

Particulars 2009-10 2008 - 09

Letter of Credit 182.56 70.15

Bank Guarantees 58.19 -

Corporate Guarantee 227.95 -

Total 240.75 70.13

2. Secured Loans : Working capital facilities from banks are secured by hypothecation of stocks of raw materials, semi finished goods, finished goods, stores and spares and book debts and first charge on Fixed Assets of the Company in favour of State Bank of India, Patamata Branch, Vijayawada and State Bank of Hyderabad, Governorpet Branch, Vijayawada on pari passu basis.

3. Current Assets and Current Liabilities : Sundry Debtors, Loans and Advances and Sundry Creditors balances are subject to confirmation by the parties. Fixed Deposits with Banks to the extent of Rs. 39.31 Lakhs are pledged with bankers towards margin money for Letters of Credit.

4. Mo amount is due to any small-scale industry in excess of Rs. 1,00,000 or more than 30 days.

5. Provision is made for regular Income Tax as per the provisions of Income Tax Act, 1961.

6. Segment Reporting : The Company is primarily engaged in the business of manufacturing both AC and DC volts Aluminium Electrolytic Capacitors. Since the nature of the activities is governed by the same nature of risks, these are grouped as single segment.

7. In the absence of any claim under interest on delayed payments to Small Scale and Ancillary Industries Undertaking Act, 1993 the Company did not make any provisions for such payment.

8. Dividends : Provision is made in the Accounts for the Dividend and Dividend Tax payable by the Company as recommended by the Board of Directors, pending approval of the Shareholders at the Annual General meeting.

9. Excise Duty : Provision has been made for the excise duty payable on finished goods not cleared from the factory amounting to Rs. 6.80 Lakhs.

10. Gratuity has been funded through the scheme administered by Life Insurance Corporation of Inda.

11. There is no impairment of assets.

The above remuneration is paid as per the terms of appointment approved by the Board / Shareholders. However, the same is pending for approval by Central Govt, of India.

1. Previous years figures have been regrouped, wherever necessary to confirm to current years classification.

2. All the figures have been rounded off to the nearest Rupee.

3. Signatures to schedule 1 to 22

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