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Notes to Accounts of Mayur Uniquoters Ltd.

Mar 31, 2015

1 General Information

Mayur Uniquoters Limited (the Company), is engaged in the business of manufacturing of Coated Textile fabric. The Company is the leading manufacturer of Coated Textile fabric in India. The Company has its manufacturing units situated at village Jaitpura and Dhodsar, Jaipur (India).Knitted Fabric manufactured in Dhodsar plant is consumed as captive consumption.The products of the Company i.e.Coated Textile fabric are widely used in different segments such as Footwear, Furnishings,Automotive OEM,Automotive replacement market, and Automotive Exports. The company is selling its products directly to OEMs and other manufacturers, wholesalers in India and is also exporting to various countries including US & UK. The equity shares of the company are presently listed with Bombay Stock Exchange Limited (BSE)and National stock Exchange Limited (NSE)

(b) Rights, preferences and restrictions attached to shares

Equity Shares: The Company has one class of equity shares having a par value of Rs.5/- per share. Each Shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing 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 to their share holding.

a) Defined Benefit Plan Provident Fund:

The Company has Defined contribution plan for its employees' retirement benefits comprising of Provident fund & Employees' state insurance fund. The Company and eligible employees make monthly contribution to the above mentioned funds at a specified percentage of the covered employees salary.

Gratuity:

The Company has Defined benefit plan comprising of Gratuity fund & leave encashment. The Company contributes to the Gratuity and leave encashment fund managed by the Life Insurance Corporation of India under its Group Gratuity (Cash Accumulation) scheme and Group leave encashment scheme.

Defined benefit plans as per actuarial valuation as on 31st March 2014

2. The Company is engaged in production of Coated Textile Fabric hence there is no reportable business segment and the company has no activity outside India except export of Coated Textile Fabric manufactured in India. Thereby no Geographical segment and no segment wise information is reported.

3. Related party Disclosures

Related party information 1) Relationship

(a) Enterprises over which person described in (b) or ( c ) are able to exercise significant influence, Where transaction has taken place.

Futura Textiles Inc.

b) Key Management personnel S.K.Poddar(Chairman & Managing Director)

Manav Poddar

Arun Kumar Bagaria

c) Relatives of Persons referred in (b) above where transactions have taken place.

4. Leases

As a Lessee:

1 Finance Lease

There is no Finance Lease taken by the Company during the year.

2 Operating Lease

(i) The total of future minimum lease payments under non-cancelable operating lease for each of the following periods:

a) Not later than one year:- Rs.30.40 Lacs (Rs.16.53 Lacs)

b) Later than one year and not later than five years:- Rs. 1 1.64 Lacs (Rs.27.32 Lacs)

c) Later than five years:- Nil

(ii) Lease payments recognized in the statement of profit and loss for the year ended on 31.03.14 Rs 42.04 Lacs (Rs.31.09 Lacs)

(iii) The company has not given any assets on sub-lease during the year.

5. There are no Micro, Small and Medium Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days at the Balance Sheet date. This information as required to be disclosed under the Micro, Small & Medium Enterprises Development Act,2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

6. Balance of Sundry Debtors, Sundry Creditors and advances are subject to confirmation.

7. The Company did not have convertible .partly convertible debentures as on 31st March,2014

8. Figure in brackets denotes figures for pervious year ended on 31.03.13

9. Figures for previous year are regrouped and rearranged wherever considered necessary.


Mar 31, 2014

(A) Rights, preferences and restrictions attached to shares

Equity Shares: The Company has one class of equity shares having a par value of Rs.5/- per share. Each Shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing 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 to their share holding.

a) Defined Benefit Plan Provident Fund:

The Company has Defined contribution plan for its employees' retirement benefits comprising of Provident fund & Employees' state insurance fund. The Company and eligible employees make monthly contribution to the above mentioned funds at a specified percentage of the covered employees salary.

Gratuity:

The Company has Defined benefit plan comprising of Gratuity fund & leave encashment. The Company contributes to the Gratuity and leave encashment fund managed by the Life Insurance Corporation of India under its Group Gratuity (Cash Accumulation) scheme and Group leave encashment scheme.

Defined benefit plans as per actuarial valuation as on 31st March 2014

1. The Company is engaged in production of Coated Textile Fabric hence there is no reportable business segment and the company has no activity outside India except export of Coated Textile Fabric manufactured in India. Thereby no Geographical segment and no segment wise information is reported.

2. Related party Disclosures

Related party information

1) Relationship

(a) Enterprises over which person described in (b) or ( c ) are able to exercise significant influence, Where transaction has taken place.

Futura Textiles Inc.

b) Key Management personnel S.K.Poddar(Chairman & Managing Director) Manav Poddar Arun Kumar Bagaria

c) Relatives of Persons referred in (b) above where transactions have taken place.

2) Transactions with Related Parties 43. Leases As a Lessee:

1 Finance Lease There is no Finance Lease taken by the Company during the year.

2 Operating Lease (i) The total of future minimum lease payments under non-cancelable operating lease for each of the following periods:

a) Not later than one year:- Rs.30.40 Lacs (Rs.16.53 Lacs)

b) Later than one year and not later than five years:- Rs. 1 1.64 Lacs (Rs.27.32 Lacs)

c) Later than five years:- Nil

(ii) Lease payments recognized in the statement of profit and loss for the year ended on 31.03.14 Rs 42.04 Lacs (Rs.31.09 Lacs)

(iii) The company has not given any assets on sub-lease during the year.

3. There are no Micro, Small and Medium Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days at the Balance Sheet date. This information as required to be disclosed under the Micro, Small & Medium Enterprises Development Act,2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

4. Pursuant to the AS-29 - Provisions, Contingent Liabilities and Contingent Assets ,the disclosures relating to provisions made in the accounts for the year ended 31st March,2014 are as follows

5. Balance of Sundry Debtors, Sundry Creditors and advances are subject to confirmation.

6. The Company did not have convertible .partly convertible debentures as on 31st March,2014

7. Figure in brackets denotes figures for pervious year ended on 31.03.13

8. Figures for previous year are regrouped and rearranged wherever considered necessary.


Mar 31, 2013

1 General Information

Mayur Uniquoters Limited (The Company), is engaged in the business of manufacturing of Coated Textile Fabric. The Company is the leading manufacturer of Coated Textile Fabric in India. The Company has its manufacturing units situated at Village Jaitpura and Dhodsar,Jaipur (India).Knitted Fabric manufactured in Dhodsar plant is consumed as captive consumption.The products of the Company i.e.CoatedTextile Fabric are widely used in different segments such as Footwear, Furnishings, Automotive OEM, Automotive Replacement Market, and Automotive Exports. The Company is selling its products directly to OEMs and other manufacturers, wholesalers in India and is also exporting to various countries including US & UK.The equity shares of the Company are presently listed with Bombay Stock Exchange Limited (BSE) and National Stock Exchange Limited (NSE)

2. Contingent Liabilities

(i) Demand Under Disputes-

(a)Textile Committee Cess 7.69 7.69

(b) Service Tax Demand 11.03 22.96

(The Company has filed appeal against these demands)

(ii) Letter of Credit/Bank Guarantee 3,343.36 4,255.38

3. In the opinion of the management and to the best of their knowledge and belief the value of realization of advances and other current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

4. The Company is engaged in production of Coated Textile Fabric hence there is no reportable business segment and the company has no activity outside India except export of Coated Textile Fabric manufactured in India.Thereby no Geographical segment and no segment wise information is reported.

5. Related Party Disclosures Related party information

1) Relationship

(a) Enterprises over which person described in (b) or (c) are able to exercise significant influence, where transaction has taken place.

b) Key Management Personnel

S.K.Poddar (Chairman & Managing Director)

Manav Poddar

Arun Kumar Bagaria

c) Relatives of persons referred in (b) above where transactions have taken place.

2) Transactions with Related Parties

6. Leases

As a Lessee

1 Finance Lease

There is no finance lease taken by the company during the year.

2 Operating Lease

(i) The total of future minimum lease payments under non-cancelable operating lease for each of the following periods

a) Not later than one year:- Rs. 16.53 Lacs.

b) Later than one year and not later than five years:- Rs.27.32 Lacs.

c) Later than five years:- Nil

(ii) Lease payments recognized in the statement of profit and loss for the year ended on 31.03.13 Rs 31.09 Lacs (Rs. 16.39 Lacs)

(iii) The company has not given any assets on sub-lease during the year.

7. There are no Micro, Small and Medium Enterprises, to whom the company owes dues, which are outstanding for more than 45 days at the Balance Sheet date.This information as required to be disclosed under the Micro, Small & Medium Enterprises Development Act,2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

8. Pursuant to the AS-29 - Provisions, Contingent Liabilities and Contingent Assets ,the disclosures relating to provisions made in the accounts for the year ended 31 st March,2013 are as follows

9. Balance of Sundry Debtors, Sundry Creditors and Advances are subject to confirmation.

10. The Company did not have convertible .partly convertible debentures as on 31st March,20l3

11. Figure in brackets denotes figures for pervious year ended on 31.03.12

12. Figures for previous year are regrouped and rearranged wherever considered necessary.


Mar 31, 2012

1 General Information

Mayur Uniquoters Limited (the Company), is engaged in the business of manufacturing of Coated Textile fabric. The Company is the leading manufacturer of Coated Textile fabric in India. The Company has its manufacturing unit situated at village jaitpura, Jaipur (India).The products of the Company i.e. Coated Textile fabric are widely used in different segments such as Footwear, Furnishings, Automotive OEM, Automotive replacement market, and Automotive Exports. The company is selling its products directly to OEMs and other manufacturers, wholesellers in India and is also exporting to various countries including US & UK. The equity shares of the company are presently listed with Bombay Stock Exchange Limited BSE.

(a) Rights, preferences and restrictions attached to shares

Equity Shares: The Company has one class of equity shares having a par value of Rs. 10/- per share. Each Shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing 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 to their share holding.

a) Defined Benefit Plan Provident Fund:

The Company has Defined contribution plan for its employees' retirement benefits comprising of Provident fund & Employees' state insurance fund. The Company and eligible employees make monthly contribution to the above mentioned funds at a specified percentage of the covered employees salary.

Gratuity:

The Company has Defined benefit plan comprising of Gratuity fund & leave encashment. The Company contributes to the Gratuity and leave encashment fund managed by the Life Insurance Corporation of India under its Group Gratuity (Cash Accumulation) scheme and Group leave encashment scheme.

2. The Company is engaged in production of Coated Textile fabric hence there is no reportable business segment and the company has no activity outside India except export of Coated Textile fabric manufactured in India. Thereby no Geographical segment and no segment wise information is reported.

3. Related party Disclosures

Related party information

I) Relationship

(a) Enterprises over which person described in (b) or (c) are able to exercise significant influence, Where transaction has taken place.

Champalal Suresh Kumar Poddar Charitable Trust

b) Key Management personnel

S.K.Poddar(Chairman & Managing Director)

Manav Poddar

Arun Kumar Bagaria

c) Relatives of Persons referred in (b) above where transactions have taken place.

Puja Poddar

4. Leases

As a Lessee:

1 Finance Lease

There is no Finance Lease taken by the Company during the year.

2 Operating Lease

(i) The total of future minimum lease payments under non-cancellable operating lease for each of the following periods:

a) Not later than one year:- Nil

b) Later than one year and not later than five years:- Nil

c) later than five years:- Nil

(ii) Lease payments recognized in the statement of profit and loss for the year ended on 31.03.12 Rs 16.39 Lacs (Nil)

(iii) The company has not given any assets on sub-lease during the year.

5. There are no Micro, Small and Medium Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days at the Balance Sheet date. This information as required to be disclosed under the Micro, Small & Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

6. Balance of Sundry Debtors, Sundry Creditors and advances are subject to confirmation.

7. The Company did not have convertible, partly convertible debentures as on 31st March,20l2

8. Figure in brackets denotes figures for pervious year ended on 31.03.11

9. Previous year Figures

The Financial statements for the year ended March 31,2011 had been prepared as per the then applicable, pre-revised Schedule VI to the Companies Act, 1956.Consequent to the notification of Revised Schedule VI under the Companies Act, 1956,the financial statements for the year ended March 31, 2012 are prepared as per Revised ScheduleVI. Accordingly ,the previous year figures have also been reclassified or rearranged to conform to this year's classification. The adoption of Revised ScheduleVI for previous year figures does not impact recognition and measurement principles followed for preparation of financial statements.


Mar 31, 2011

1. Contingent Liabilities not provided for (Rs.in Lacs)

(i) Letter of credit 3,618.89 (2,446.60)

(ii) Demand under disputes Textile Committee Cess 7.69

(The Company has filed appeal against this demand) (7.69)

(iii) Service Tax Demand 22.96

(Nil)

(iv) Estimated amount of contracts remaining to be executed on 654.23 capital account (Net of Advance) (156.57)

2. In the opinion of the management and to the best of their knowledge and belief the value of realization of advances and other current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

3. There are no Micro, Small and Medium Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days at the Balance Sheet date.This information as required to be disclosed under the Micro,Small & Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

4. The Company is engaged in production of PU/PVC Synthetic Leather hence there is no reportable business segment and the company has no activity outside india except export of PU/PVC Synthetic Leather manufactured in india.Thereby no Geographical segment and no segment wise inforamation is reported.

5. Related party Disclosures

Related party information

1) Relationship

a) Enterprises over which person described in (b) or (c) are able to exercise significant influence,Where transaction has taken place. Champalal Suresh Kumar Poddar Charitable Trust

b) Key Management Personnel S.K.Poddar(Chairman & Managing Director) Manav Poddar

Arun Kumar Bagaria

c) Relatives of persons referred in (b) above where transactions have taken place. Puja Poddar

6. Balance of Sundry Debtors, Sundry Creditors and advances are subject to confirmation.

7. The Company did not have convertible, partly convertible debentures as on 31st March, 2011.

8. Figure in brackets denotes figures for pervious year ended on 31.03.10.

9. Figures for previous year are regrouped and rearranged wherever considered necessary.

 
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