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Notes to Accounts of Jaysynth Dyestuff (India) Ltd.

Mar 31, 2015

A) Rights, Preferences and restrictions attached to shares

The company has one class of equity shares having a par value of Rs 1/- per share. Each shareholder is eligible for one vote per share held. The Dividend when proposed by the Board of Directors is subject to the approval of the shareholders in the Annual General Meeting except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the assets of the company remaining after distribution of all preferential amounts in proportion of their shareholding.

1.1 The Company is in the process of identifying suppliers falling under the Micro, Small and Medium Enterprises Development Act, 2006. However, no confirmation as regards to the status has been received by the Company.

In the absence of information as regard to the status/ classification of the relevant enterprises into Micro, Small and Medium Enterprises, information as required under Notification No. G.S.R. 719 (E) dated 16.11.2007 issued by the Department of Company Affairs in respect of the total amount payable and amount of interest thereon paid during the year and payable at the end of the year to the Sundry Creditors could not be disclosed."

Note : 2 Segment information

Note : 2.1 Primary Segments :

The company has identified Organic Colourants as the only primary reportable segment. In view of the interwoven / intermix nature business and manufacturing facility other segmental information is not ascertainable.

Note : 2.2 informatton of Dertvattve instrument outstandrng as at the Baiance Sheet date :

i) Total Derivative contracts in respect of currency forward covers of USD 12.65 lacs (previous year USD 13.55 lacs ) are outstanding at the Balance Sheet date.

According to "Accounting of Derivatives" issued by the Institute of Chartered Accountants of India (ICAI), there is net gain of Rs 4.07 lacs (previous year Rs 28.38 lacs) in respect of all such outstanding derivative contract (by marking them to market) as on the Balance Sheet date has been recognized by the Company.

ii) The company has entered into derivative transactions with an objective to hedge the financial risks associated with its business viz. foreign exchange.

Note : 2.3 In the opinion of the Board and to the best of their knowledge and belief, the realisable value of current assets, loans and advances in the ordinary course of business would not be less than the amount, at which they are stated in the Balance Sheet unless otherwise stated, and the provision for all known and determined liabilities is adequate and not in excess of the amount reasonably required.

Note : 2.4 Balance of loans & advances, sundry debtors, sundry creditors & deposits are subject to adjustments, reconciliation and confirmation by the parties.

Note : 2.5 Bank certificates are obtained for bank balances, but wherever bank certificates could not be obtained we have relied on bank statements.

Note : 3 Previous year's figures have been regrouped / reclassified, wherever necessary to confirm to the current year presentation.


Mar 31, 2014

Note : 1.1 Defined Benefit Plans

The summarized position of post-employment benefits and long term employee benefits recognized in the Statement of Profit and Loss and Balance Sheet ( as per Accounting Standard 15) are as under :-

Note : 2 Segment Information

Note : 2.1 Primary Segments :

The company has identified Organic Colourants as the only primary reportable segment. In view of the interwoven / intermix nature business and manufacturing facility other segmental information is not ascertainable.

Note : 2.2 Geographical Segments :

Note : 2.3 Related Parties Disclosure under Accounting Standard - 18

i) The List of related parties as identified by the management are as under: Associates Companies / Firms

1. Jaysynth Impex Ltd.

2. Jay Chemi Colour Industries Pvt. Ltd.

3. Jaysynth (Europe) Ltd.

4. Jay Instruments & Systems Pvt. Ltd.

5. J D Orgochem Ltd.

6. Trichromy Enterprises Pvt. Ltd.

7. R P Trading Co.

8. Shri. Sharadchandra Shoorji Trikamdas Charitable Trust

Key Management Personnel of the Company

1. Shri Sharadchandra S. Kothari

2. Shri Parag S. Kothari

3. Shri Nikhil S. Kothari

Note : 2.4 Information of Derivative Instrument outstanding as at the Balance Sheet date :

i) Total Derivative contracts in respect of currency forward covers of USD 13.55 lacs (previous year USD 17.90 lacs) are outstanding at the Balance Sheet date.

According to"Accounting of Derivatives" issued by the Institute of Chartered Accountants of India (ICAI) , there is net gain of Rs. 28.38 lacs (previous year Rs. 13.59 lacs) in respect of all such outstanding derivative contract (by marking them to market) as on the Balance Sheet date has been recognized by the Company.

ii) The Company has entered into derivative transactions with an objective to hedge the financial risks associated with its business viz. foreign exchange.

Note : 2.5 In the opinion of the Board and to the best of their knowledge and belief, the realisable value of current assets, loans and advances in the ordinary course of business would not be less than the amount, at which they are stated in the Balance Sheet unless otherwise stated, and the provision for all known and determined liabilities is adequate and not in excess of the amount reasonably required.

Note : 2.6 Balance of loans and advances, sundry debtors, sundry creditors and deposits are subject to adjustments, reconciliation and confirmation by the parties.

Note : 2.7 Bank certificates are obtained for bank balances, but wherever bank certificates could not be obtained we have relied on bank statements.

Note : 3 Previous year''s figures have been regrouped / reclassified, wherever necessary to confirm to the current year presentation.


Mar 31, 2013

Note 1.1 Related Parties Disclosure under Accounting Standard -18

i) The List of related parties as Identified by the management are as under;

Associates Companies / Firms l.JaysynthlmpexLtd

2. Jay Che mi Colour Industries

3. Jaysynth (Europe) Ltd

4. Jay Instruments & Systems Pvt Ltd.

5. Trlchromy Enterprises Pvt. Ltd.

6. RP Trading Co.

T.Shri. Sharadchandra Shoorji Trikamdas Charitable Trust

Key Management Personnel of the Company

1. Shri P. S. Kothari

2. Shri N. S. Kothari

Note 1.2 Information of Derivative Instrument outstanding as at the Balance Sheet date:

i) Total Derivative contracts In respect of currency forward covers of USD 17.90 lacs (previous year USD 19.55 lacs} are outstanding at the Balance Sheet date.

According to"Accounting of Derivatives" issued by the Institute of Chartered Accountants of India (ICAI), there is net gain of Rs. 13.S9 lacs (previous year 710.53 lacs) In respect of alt such outstanding derivative contract (by marking them to market) as on the Balance Sheet date has been recognized by the Company. li) The company has entered into derivative transactions with an objective to hedge the financial risks associated with its business viz. foreign exchange.

Note 1.3 In the opinion of the Board and to the best of their knowledge and belief, the realisable value of current assets, loans and advances In the ordinary course of business would not be less than the amount, at which they are stated in the Balance Sheet unless otherwise stated, and the provision for all known and determined liabilities is adequate and not in excess of the amount reasonably required.

Note 1.4 Balance of loans & advances, sundry debtors, sundry creditors & deposits are subject to adjustments, reconciliation and confirmation by the parties.

Note 1.5 Bank certificates are obtained for bank balances, but wherever bank certificates could not be obtained we have relied on bank statements.

Note 2 Previous year''s figures have been regrouped / reclassified, wherever necessary to confirm to the current year presentation.


Mar 31, 2012

A) Rights, Preferences and restrictions attached to shares

The company has one class of equity shares having a par value of Rs. 1/- per share. Each shareholder is eligible for one vote per share held. The Dividend when proposed by the Board of Directors is subject to the approval of the shareholders in the 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 of their shareholding.

1.1 The Company is in the process of identifying suppliers falling under the Micro, Small and Medium Enterprises Development Act, 2006. However, no confirmation as regards to the status has been received by the Company.

In the absence of information as regard to the status/ classification of the relevant enterprises into Micro, Small and Medium Enterprises, information as required under Notification No. G.S.R. 719 (E) dated 16.11.2007 issued by the Department of Company Affairs in respect of the total amount payable and amount of interest thereon paid during the year and payable at the end of the year to the Sundry Creditors could not be disclosed.

Note : 1.2 Related Parties Disclosure under Accounting Standard -18

i) The List of related parties as identified by the management are as under: Associates Companies / Firms

1. Jaysynth Impex Ltd

2. Jay Chemi Colour Industries

3. Jaysynth (Europe) Ltd

4. Jay Instruments & Systems Pvt Ltd.

5. Trichromy Enterprises Pvt. Ltd.

6. R P Trading Co.

7. Shri. Sharadchandra Shoorji Trikamdas Charitable Trust Key Management Personnel of the Company

1. Shri P. S. Kothari

2. Shri N. S. Kothari

Note : 1.3 Information of Derivative Instrument outstanding as at the Balance Sheet date :

i) Total Derivative contracts in respect of currency forward covers of USD 19.55 lacs (previous year USD 35.01 lacs ) are outstanding at the Balance Sheet date.

In view of the recent announcement made by the Institute of Chartered Accountants of India (ICAI) on "Accounting of Derivatives" there is net gain of Rs. 10.53 lacs (previous year Rs. 53.29 lacs) in respect of all such outstanding derivative contract (by marking them to market) as on the Balance Sheet date which has been recognized by the Company.

ii) The company has entered into derivative transactions with an objective to hedge the financial risks associated with its business viz. foreign exchange.

Note : 1.4 In the opinion of the Board and to the best of their knowledge and belief, the realisable value of current assets, loans and advances in the ordinary course of business would not be less than the amount, at which they are stated in the Balance Sheet unless otherwise stated, and the provision for all known and determined liabilities is adequate and not in excess of the amount reasonably required.

Note : 1.5 Balance of loans & advances, sundry debtors, sundry creditors & deposits are subject to adjustments, reconciliation and confirmation by the parties.

Note : 1.6 Bank certificates are obtained for bank balances, but wherever bank certificates could not be obtained we have relied on bank statements.

Note : 2 The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statement. This has significantly impacted the disclosure and presentation made in financial statements. Previous year's figures have been regrouped / reclassified, wherever necessary to confirm to the current year presentation.


Mar 31, 2011

1. In the opinion of the Board and to the best of their knowledge and belief, the realisable value of current assets, loans and advances in the ordinary course of business would not be less than the amount, at which they are stated in the Balance Sheet unless otherwise stated, and the provision for all known and determined liabilities is adequate and not in excess of the amount reasonably required.

2. Balance of loans & advances, sundry debtors, sundry creditors & deposits are subject to adjustments, reconciliation and confirmation by the parties.

3. Bank certificates are obtained for bank balances, but wherever bank certificates could not be obtained we have relied on bank statements.

4. The Company is in the process of identifying suppliers falling under the Micro, Small and Medium Enterprises Development Act, 2006. However, no confirmation as regards to the status has been received by the Company.

In the absence of information as regard to the status/ classification of the relevant enterprises into Micro, Small and Medium Enterprises, information as required under Notification No. G.S.R. 719 (E) dated 16.11.2007 issued by the Department of Company Affairs in respect of the total amount payable and amount of interest thereon paid during the year and payable at the end of the year to the Sundry Creditors could not be disclosed.

5. The Previous Year's figures have been regrouped, readjusted, reclassified and reworked wherever necessary to confirm to the current year's classification.


Mar 31, 2010

1. Quantitave Information of Derivative Instrument outstanding as at the balance sheet date :

i) Total Derivative contracts in respect of cross currency forward covers of USD 32.23 lacs(previous year USD 14.80 lacs )are outstanding at the Balance Sheet date.

In view of the recent announcement made by the Institute of Chartered Accountants of India (ICAI) on "Accounting of Derivatives" there is net gain of Rs.38.39 lacs(previous year Rs. 12.15 lacs) in respect of all such outstanding derivative contract (by marking them to market) as on the balance sheet date which has been recognized by the Company. ii) The company has entered into derivative transactions with an objective to hedge the financial risks associated with its business viz. foreign exchange.

2. In the opinion of the Board and to the best of their knowledge and belief, the realisable value of current assets, loans and advances in the ordinary course of business would not be less than the amount, at which they are stated in the Balance Sheet unless otherwise stated, and the provision for all known and determined liabilities is adequate and not in excess of the amount reasonably required.

3. Balance of loans & advances, sundry debtors, sundry creditors & deposits are subject to adjustments, reconciliation and confirmation by the parties.

4. Bank certificates are obtained for bank balances, but wherever bank certificates could not be obtained we have relied on bank statements.

5. The Company is in the process of identifying suppliers falling under the Micro, Small and Medium Enterprises Development Act, 2006. However, no confirmation as regards to the status has been received by the Company.

In the absence of information as regard to the status/ classification of the relevant enterprises into Micro, Small and Medium Enterprises, information as required under Notification No. G.S.R 719 (E) dated 16.11.2007 issued by the Department of Company Affairs in respect of the total amount payable and amount of interest thereon paid during the year and payable at the end of the year to the Sundry Creditors could not be disclosed.

6. The Previous Years figures have been regrouped, readjUHsb. radrafsified and reworked wherever necessary to confirm to the current years classification.

 
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