Home  »  Company  »  Jocil Ltd.  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Jocil Ltd.

Mar 31, 2015

1. Rights attached to Equity share holders :- The company has only one class of Equity Shares having a par value of Rs.10/- each. Each holder of Equity Share is entitled to one vote per share on poll and has one vote on show of hands. The dividend proposed by the board of directors is subject to the approval of share holders in the annual general meeting, except in case of interim dividend. In the event of liquidation, the Equity share holders are eligible to receive the remaining assets of the company in proportion to their share holding after distribution of payments to preferential creditors.

2. Particulars regarding bonus issues and other details during the period of last five financial years:

Out of last five financial years, the company issued and allotted 44,40,575 equity shares of Rs.10/- each as bonus shares in the ratio of 1:1 during the financial year 2011-12 by way of capitalization of General Reserves.

3. None of the shares were issued in pursuant to contract without payment being received in cash.

4. Out of total equity shares issued and subscribed, 48,86,500 shares are held by holding company, The Andhra Sugars Ltd, Tanuku.

*Of above, Rs.22,27,248 was adjusted against general reserve consequent to applicability of Schedule-II of Companies Act, 2013.

Note:

a. The working capital loans from Andhra Bank and SBI carries interest @11.25%. No amounts were overdrawn exceeding the limits sanctioned by the banks.

b. Fixed deposits accepted during the year carries interest @9.50%. The company made no defaults in repayment of fixed deposits.

Disclosures required under the Micro, Small and Medium Enterprises Development Act, 2006.

Based on, and to the extent of information received from the suppliers with regard to their status under Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act), on which the auditors have relied, the disclosure requirements with regard to the payments made/due to Micro, Small and Medium Enterprises are given below:

* The unclaimed dividends represent those relating to the years 2007-08 to 2013-14 and no part thereof has remained unpaid or unclaimed for a period of seven years or more from the date they became due for payment requiring transfer to the Investor Education and Protection Fund.

Note: 1. Sale value of Biomass Power in the previous year includes an amount of Rs. 2,33,07,042 being differential sale price of power for earlier years received as per the interim order of Appellate Tribunal for Electricity.

5. Sales of Biomass Power does not include 1,69,36,089 kWh, value Rs.11,00,84,582 (Previous year 1,66,58,028 kWh, value Rs.10,56,11,899) consumed internally.

Note:

a. Production of Fatty Acids includes 12525 MT (Previous year 22,627 MT) utilized for captive consumption at Soap Plant and 7877 MT (Previous year – 1177 MT) processed on behalf of others.

b. Production of Toilet Soap during the year is on behalf of others (Previous year 2,124 MT).

c. Production of Soap Products includes 11677 MT (Previous year 1,224 MT) consumed for production of Toilet Soap at Soap Plant and 1722 MT (Previous year 1,791 MT) processed on behalf of others.

d. Production of Glycerine includes 112 MT (Previous year 129 MT) consumed for captive consumption at Soap Plant.

e. Production of Industrial Oxygen includes captive consumption of 3269 cubic meters (Previous year 5,467 cu. mtrs).

f. Power Generation includes 16936089 units (Previous year 16658028 units) utilized for captive consumption.

Note :

a. The Company has considered business segment as the primary segment for disclosure. The products included in each of the reported domestic business segments are

- Chemicals – Fatty acids

- Soap – Toilet soap and Soap products

- Power – Power generated by Biomass Power Plant and Wind Energy Generator (WEG)

b. Segment revenue relating to each of the above domestic business segments includes income from processing on behalf of others wherever applicable.

c. The above business segments have been identified considering :

- the nature of products and services

- the differing risks and returns

- the organization structure and

- the internal financing reporting systems

d. The Company predominantly operates in Indian market and has no production facilities or any significant sales outside India. Hence there are no separate reportable geographical segments.

e. Inter segment transfers are priced at market related rates.

6. a. Balances in personal accounts of various parties are subject to confirmation by and reconciliation with the said parties.

b. In the opinion of the management, Current Assets, Loans and advances have a value on realization in the ordinary course of business equal to the values at which they are stated.

7. Previous year's figures have been regrouped wherever necessary to confirm to the current year classification.

8. Paise have been rounded off.


Mar 31, 2014

1. Rights attached to Equity Shareholders

The company has only one class of Equity Shares having a par value of Rs.10/- each. Each holder of Equity Share is entitled to one vote per share on poll and has one vote on show of hands. In the event of liquidation, the Equity shareholders are eligible to receive the remaining assets of the company in proportion to their share holding after distribution of payments to preferential creditors.

2. Details of shares held by share holders holding more than 5% of the aggregate shares in the Company.

3. Out of total equity shares issued and subscribed, 48,86,500 shares are held by holding company, The Andhra Sugars Ltd, Tanuku.

a. Particulars regarding bonus issues and other details during the period of last five financial years:

Out of last five financial years, the company issued and alloted 44,40,575 equity shares of Rs.10/- each as bonus shares in the ratio of 1:1 during the financial year 2011-12 by way of capitalisation of General Reserves.

b. None of the shares were issued in pursuant to contract without payment being received in cash.

4 Note:

a) The working capital loan from Andhra Bank and SBI carries interst @11.25% and @10.90% respectively.

No amounts were overdrawn exceeding the limits sanctioned by the banks.

b) Fixed deposits accepted during the year upto 21/07/2013 carries interest @9.75% and thereafter @9.50%. The company made no defaults in repayment of fixed deposits.

* The unclaimed dividends represent those relating to the years 2006-07 to 2012-13 and no part thereof has remained unpaid or unclaimed for a period of seven years or more from the date they became due for payment requiring transfer to the Investor Education and Protection Fund.

5 Note:- In the opinion of Management, the shortfall in value of non-current investments is to be considered temporary. In view of past trend in Market Price of Share and considering the performance of the company, the diminution in market value of Shares is considered temporary in nature.

6 Note: 1) Sale value of Bio-mass power includes an amount of Rs.2,33,07,042 (PY Rs.2,13,51,548) being differential sale price of power for earlier years received as per the order of Appellate Tribunal for Electricity.

7) The sale of Bio-mass power does not include 1,66,58,028 KWH value of Rs.10,56,11,899 (PY 1,79,68,840 KWH value of Rs.9,43,36,412 consumed internally.)

8 Note:

a) Production of Fatty Acids includes 22,627 MT (Previous year 24,730 MT) utilized for captive consumption at Soap Plant and 1,177 MT (Previous year - 3,292 MT) processed on behalf of others.

b) Production of Toilet Soap includes 2,124 MT processed on behalf of others (Previous year 5,337 MT)

c) Production of Soap Products includes 1,224 MT (Previous year 1,924 MT) utilized for production of Toilet Soap at Soap Plant and 1,791 MT (Previous year 4,845 MT) processed on behalf of others.

d) Production of Glycerine includes 129 MT (Previous year 80 MT) utilized for captive consumption at Soap Plant

e) Production of Industrial Oxygen includes captive consumption of 5,467 cubic meters (Previous year 7,686 cu. mtrs).

f) Power Generation includes 1,66,58,028 units (Previous year 1,79,68,840 units) utilized for captive consumption.

g) Expenditure incurred in foreign currency during the year towards Consultancy services Rs. Nil (Previous year Rs. 23,29,204/-) and towards traveling expenses Rs. Nil (Previous Year Rs.93,107/-)

9. Comparison between consumption of imported and indigenous spares and components during the year charged to appropriate heads of account.

10 Note :

a. The Company has considered business segment as the primary segment for disclosure. The products included in each of the reported domestic business segments are

* Chemicals - Fatty acids

* Soap - Toilet soap and Soap products

* Power - Power generated by Biomass Power Plant and Wind Energy Generator (WEG)

b. Segment revenue relating to each of the above domestic business segments includes income from processing on behalf of others wherever applicable.

c. The above business segments have been identified considering :

* the nature of products and services

* the differing risks and returns

* the organization structure and

* the internal financing reporting systems

d. The Company predominantly operates in Indian market and have no production facilities or any significant sales outside India. Hence there are no separate reportable geographical segments.

e. Inter segment transfers are priced at market related rates.

As at 31-3-2014 As at 31-3-2013 Rs. Rs.

11. Contingent Liabilities not provided for -

a) Estimated amount of contracts remaining to be executed and not provided for which commitment is 20,47,49,535 27,56,27,424 made

b)Claims against the Company not admitted as debts relating to:

i) Excise and Service Tax 1,21,08,997 91,29,997

ii) Income-tax 66,09,990 48,59,971

ii) State Levies 2,45,58,664 2,26,09,309

iiii) Other Contracts 3,72,156 3,60,225

12. The Company billed the entire power supplied by it to AP Transco during the year at Rs.5.66 per kwh, (5% increase over the previous year) pending finalization of rate by AP Electricity Regulatory Commission (APERC) on the petition filed by Biomass Energy Developers Association (BEDA), Hyderabad in which the Company is a member in order to maintain claim for payment in case of favourable decision. However, the Company recognized revenue from power sales during the year based on the rate at which AP Transco/ SPDCL is currently paying for supplies. Accordingly an amount of Rs.461.14 lakhs was recognized as income and balance of Rs.19.77 lakhs has not been recognized as income during the year.

13. Foreign exchange earnings on exports during the year calculated on FOB basis Rs.12,34,262 (Previous year Rs. 1,30,50,778)

14. RELATED PARTY DISCLOSURES

a) List of related parties and description of relationship:

1. Holding Company : The Andhra Sugars Ltd.

2. Fellow Subsidiaries : The Andhra Farm Chemicals Corp. Ltd.

3. Key Management Personnel : J. Murali Mohan

4. Relatives of Key Management Personnel - J. Murali Mohan

J. Ganga Bhavani Mother

J. Sunita Mohan Wife

J. Namrata Daughter

V Indira Sister

J. Murali Mohan HUF

15. a) Balances in personal accounts of various parties are subject to confirmation by and reconciliation with the said parties.

b) In the opinion of the management, Current Assets, Loans and advances have a value on realization in the ordinary course of business equal to the values at which they are stated.

16. Previous year''s figures have been regrouped wherever necessary to confirm to the current year classification.

17. Paise have been rounded off.


Mar 31, 2013

CORPORATE INFORMATION

Jocil Limited (hereinafter referred to as Jocil) is engaged in the manufacture of Stearic Acid, Fatty Acids, Soap Noodles, Toilet Soap, Glycerine and Industrial Oxygen. The manufacturing facilities of Jocil and its Registered Office are located at the same place at Dokiparru Village, Medikondur Mandal, Guntur District, Andhra Pradesh. It is also having a 6 MW Biomass Cogeneration Captive Power Plant to meet the power requirements of the manufacturing activity and surplus power is sold to AP Transco. Jocil is also having 4 Wind Energy Generators in the State of Tamil Nadu and the power generated is sold to Tamil Nadu Generation and Distribution Corporation Limited. Jocil is a subsidiary to The Andhra Sugars Limited (ASL), Tanuku, W.G.District, Andhra Pradesh. As on 31-03-2013 ASL owned 55.02% of the Jocil''s equity share capital.

As at 31-3-2013 As at 31-3-20l2 Rs. Rs.

2. Contingent Liabilities not provided for -

a) Estimated amount of contracts remaining to be executed and not provided for which commitment is made 27,56,27,424 40,36,19,016

b) Claims against the Company not admitted as debts relating to:

i) Excise and Service Tax 1,68,27,630 1,67,60,762

ii) Income-tax 48,59,971 19,57,886

ii) State Levies 2,26,09,309 10,99,165

iiii) Other Contracts 3,60,225 3,48,295

3. The Company billed the entire power supplied by it to AP Transco during the year at Rs. 5.39 per kwh, (5% increase over the previous year) pending finalization of rate by AP Electricity Regulatory Commission (APERC) on the petition filed by Biomass Energy Developers Association (BEDA), Hyderabad in which the Company is a member, in order to maintain claim for payment in case of favourable decision. However, the Company recognized revenue from power sales during the year based on the rate at which AP Transco/ SPDCL is currently paying for supplies. Accordingly an amount of Rs. 329.11 lakhs was recognized as income and balance of Rs. 93.01 lakhs has not been recognized as income during the year.

4. Foreign exchange earnings on exports during the year calculated on FOB basis Rs. 1,30,50,778 (Previous year Rs. 2,18,08,672)

5. RELATED PARTY DISCLOSURES

a) List of related parties and description of relationship:

1. Holding Company : The Andhra Sugars Ltd.

2. Fellow Subsidiaries : The Andhra Farm Chemicals Corp. Ltd.

3. Key Management Personnel : J. Murali Mohan

4. Relatives of Key Management Personnel - J. Murali Mohan J. Ganga Bhavani Mother

J. Sunita Mohan Wife

J. Namrata Daughter

V. Indira Sister

J. Murali Mohan HUF

6. a) Balances in personal accounts of various parties are subject to confirmation by and reconciliation with the said parties.

b) In the opinion of the management, Current Assets, Loans and advances have a value on realization in the ordinary course of business equal to the values at which they are stated.

7. Previous year''s figures have been regrouped wherever necessary to confirm to the current year classification.

8. Paise have been rounded off.


Mar 31, 2012

1. CORPORATE INFORMATION

Jocil Limited (hereinafter referred to as Jocil) is engaged in the manufacture of Stearic Acid, Fatty Acids, Soap Noodles, Toilet Soap, Glycerine and Industrial Oxygen. The manufacturing facilities of Jocil and its Registered Office are located at the same place at Dokiparru Village, Medikondur Mandal, Guntur District, Andhra Pradesh. It is also having a 6 Mw Biomass Cogeneration Captive Power Plant to meet the power requirements of the manufacturing activity and surplus power is sold to AP Transco. Jocil is also having 4 Wind Energy Generators in the State of Tamil Nadu and the power generated is sold to Tamil Nadu Generation and Distribution Corporation Limited. Jocil is a subsidiary to The Andhra Sugars Limited (ASL), Tanuku, W.G.District, Andhra Pradesh.

a. Rights attached to Equity shareholders

The company has only one class of Equity Shares having a par value of Rs. 10/- each. Each holder of Equity Shares is entitled to one vote per share on poll and have one vote on show of hands. In the event of liquidation, the Equity shareholders are eligible to receive the remaining assets of the company in proportion to their share holding after distribution of payments to preferential creditors.

b. Out of total equity shares issued and subscribed, 48,86,500 shares are held by holding company. The Andhra Sugars Ltd, Tanuku.

c. Particulars regarding bonus issues and other details during the period of last five financial years:

i) Out of last five financial years, the company issued and allotted 44,40,575 equity shares of Rs. 10 each as bonus shares in the ratio of 1: 1 in the financial year 2011-12 by way of capitalisation of General Reserves.

ii) None of the shares were issued in pursuant to contract without payment being received in cash.

I) a) Term Loan from Axis Bank is secured by way of first charge on entire fixed assets of the company Also secured by second Pari Passu charge on entire current assets of the Company.

b) The above Term Loan is repayable in 36 equal monthly installments starting from 1st April, 2011 i.e., in 2011-12 Rs. 125 lakhs : in 2012-13 Rs. 125 lakhs and in 2013-14 Rs. 125 lakhs. The said loan carries interest 13.75%.

c) However, the above loan is repaid in full during the current financial year 2011-12.

d) The company is regular in repaying the above Term Loan within the stipulated time period.

II) The company has availed Interest free sales tax loan for the period from 1996-97 to 1998-99 aggregating to Rs. 1,10,16,620/-. The said loan is repayable within a period of 14 years from the year of availment.

Of the above, an amount of Rs.38,97,599/- falls due for repayment in the financial year 2012-13.

Notes:

1. Production of Fatty Acids includes 25164 MT (Previous year 29615 MT) utilized for captive consumption at Soap Plant and 1475 MT (Previous year - 1651 MT) processed on behalf of others.

2. Production of Toilet Soap includes 5144 MT processed on behalf of others (Previous year 8014 MT)

3. Production of Soap Products includes 2235 MT (Previous year 1565 MT) utilized for production of Toilet Soap at Soap Plant and 2187 MT (Previous year 3620 MT) processed on behalf of others.

4. Production of Glycerin includes 64 MT (Previous year 186 MT) utilized for captive consumption at Soap Plant

5. Production of Industrial Oxygen includes captive consumption of 13811 cubic meters (Previous year 10974 cu. mtrs).

6. Power Generation includes 16685632 units (Previous year 14154675 units) utilized for captive consumption.

7. The Installed Capacities are as per Certification given by the Managing Director on which the Auditors have relied.

b) Expenditure incurred in foreign currency during the year towards Consultancy services Rs.4,26,383/- (Previous year Rs. Nil)

Note :

a. The Company has considered business segment as the primary segment for disclosure. The products included in each of the reported domestic business segments are

- Chemicals - Fatty acids

- Soap - Toilet soap and Soap products

- Power - Power generated by Biomass Power Plant and Wind Energy Generator (WEG)

b. Segment revenue relating to each of the above domestic business segments includes income from processing on behalf of others wherever applicable.

c. The above business segments have been identified considering :

- the nature of products and services

- the differing risks and returns

- the organization structure and

- the internal financing reporting systems

d. The Company predominantly operates in Indian market and have no production facilities or any significant sales outside India. Hence there are no separate reportable geographical segments.

e. Inter segment transfers are priced at market related rates.

As at As at 31-3-2011 31-3-2011 Rs. Rs.

1. Contingent Liabilities not provided for -

a) Estimated amount of contracts remaining to be executed and not provided for which commitment is made 40,36,19,016 28,87,52,866

b) Outstanding guarantees to Banks including letter of credit opened with Bankers for purchase of material 3,44,58,580 42,04,440

c) Claims against the Company not admitted as debts relating to:

i) Excise and Service Tax 1,67,60,762 90,70,382

ii) State Levies 12,41,487 -

iiii) Other Contracts 3,48,295 3,36,364

2. Foreign exchange earnings on exports during the year calculated on FOB basis Rs.2,18,08,672/- (Previous years. 36,59,13,419)

3. GROUP GRATUITY :

a) The company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service subject to the limits as per the rules of the company. The scheme is funded with an insurance company in the form of a qualifying insurance policy.

The following tables summarise the components of net benefit expense recognised in the statement of profit and loss and the fund status and amounts recognised in the balance sheet for the Group gratuity. Statement of Profit and Loss Net employee benefit expense (contribution to Group gratuity)

4. a) Balances in personal accounts of various parties are subject to confirmation by and reconciliation with the said parties.

b) In the opinion of the management, Current Assets, Loans and advances have a value on realization in the ordinary course of business equal to the values at which they are stated.

5. Previous year's figures have been regrouped wherever necessary as per the requirements of revised Schedule-VI of The Companies Act, 1956, and have been shown in brackets in some of the places.

6. Paise have been rounded off.

 
Subscribe now to get personal finance updates in your inbox!