Home  »  Company  »  NGL Fine-Chem Li  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of NGL Fine - Chem Ltd.

Mar 31, 2015

1 Corporate information

NGL Fine-Chem Limited (CIN L24110MH1981 PLC025884) is a public company domiciled in India and incorporated under the provisions of the Companies Act,1956. Its Shares are listed on Bombay Stock Exchange in India. The Company is engaged in pharmaceutical business. It undertakes manufacturing of wide range of products.

Note 2 Additional information to the financial statements

Particulars For the year ended For the year ended 31 March, 2015 31 March, 2014 Amount (Rs.) Amount (Rs.)

(a) Contingent Liabilities

(i) Disputed direct tax 71,42,270 -

(b) Commitments

(i) Estimated amount of contracts remaining to be executed on capital account and not provided for

Tangible assets 1,33,56,229 14,55,000

(ii) Other commitments (specify nature)

Letters of credit established for which goods are yet to be received and provided for 1,03,37,244 77,61,290

(b) Earnings Per Share

Net profit after tax as per Statement of Profit and Loss attributable to Equity Shareholders 8,33,00,726 4,52,84,554

Weighted average number of equity shares outstanding (Nos) 61,78,024 61,78,024

Basic and diluted earnings per share of the face value of Rs. 5/- each 13.48 7.33

(c) Value of imports calculated on CIF basis:

Raw materials 6,30,41,755 5,62,12,190

Capital goods 24,32,550 10,40,340

Total 6,54,74,305 5,72,52,530

(d) Expenditure in foreign currency:

Professional and consultation fees - -

Other matters 3,85,06,550 2,28,73,238

Total 3,85,06,550 2,28,73,238

(g) Related Parties Disclosures

Disclosures as required by Accounting Standards 18 - "Related Party Disclosures" are given below (a) Related Parties with whom transactions have taken place during the year

(i) Associates Companies/Firms in which Directors or their relatives are interested : Nupur Remedies Private Limited

(ii) Key management personnel and their relatives with whom the company has transacted

Name Designation Relatives

Rahul Nachane Managing Director

Rajesh Lawande Executive Director N G Lawande

(h) Segment Reporting

Based on the guiding principles given by the Accounting Standard - 17, "Segment Reporting" issued by the Institute of Chartered Accountants of India, the company''s business comprises of only one segment - pharmaceuticals. Hence segment wise analysis is not given as the same is not applicable

(i) MSMED Act

The company has not received any information from suppliers or service providers, whether they are covered under the "Micro, Small and Medium Enterprises (Development) Act 2006" (MSMED Act). Therefore it is not possible to give the information required under the Act.

(j) The rate of depreciation for each class of asset has been changed from those prescribed under Schedule VI of the Companies Act 1956 to rates as determined based on the useful life of each class of assets as estimated by the management and considering provisions of Schedule II of the Companies Act 2013. Due to this change, the resulting surplus of depreciation of Rs. 5,76,286 upto 31st March 2014 is adjusted against General Reserve of the Company.

(k) Exceptional item is insurance claim realized by company which was in litigation for last five years.

(l) Previous years figures have been recast, regrouped and rearranged wherever necessary.


Mar 31, 2014

1 Corporate information

NIL Fine-Chem Limited (CIN L24110MH1981PLC025884) is a public company domiciled in India and incorporated under the provisions of the Companies Act,1956. Its Shares are listed on Bombay Stock Exchange in India. The Company is engaged in pharmaceutical business. It undertakes manufacturing of wide range of products.

(a) Rights, preferences and restrictions attached to shares

The company has one class of equity shares having a par value of Rs. 5 each. 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 shareholding.

2.Terms and conditions of loans

1. Term Loans from Bank of Maharashtra are @ 13.25% interest per annum and repayment to be made in 60 monthly instalments, secured by exclusive mortgage & charge on all of the companys assets including moveable & immovable property, hypothecation of inventories and book debts and guaranteed by Rahul Nachane & Rajesh Lawande, Directors of the company.

2. For Vehicle Loans

(i) Bank of Maharashtra Vehicle loan is at 10.50% interest per annum and repayable in 36 instalments and secured by hypothecation of the vehicle

Repayment Terms :

Secured by exclusive mortgage & charge on all of the companys assets including moveable & immovable property, hypothecation of inventories and book debts and guaranteed by Rahul Nachane & Rajesh Lawande, Directors.

(a) Segment Reporting

Based on the guiding principles given by the Accounting Standard - 17, "Segment Reporting" issued by the Institute of Chartered Accountants of India, the company''s business comprises of only one segment - pharmaceuticals. Hence segment wise analysis is not given as the same is not applicable

(b) MSMED Act

The company has not received any information from suppliers or service providers, whether they are covered under the "Micro, Small and Medium Enterprises (Development) Act 2006" (MSMED Act). Therefore it is not possible to give the information required under the Act.

(c) Previous years figures have been recast, regrouped and rearranged whereever necessary


Mar 31, 2013

1 Corporate information

NGL Fine-Chem Limited is a public company domiciled in India and incorporated under the provisions of the Companies Act,1956. Its Shares are listed on Bombay Stock Exchange in India. The Company is engaged in pharmaceutical business. It undertakes manufacturing of wide range of products.

(a) Segment Reporting

Based on the guiding principles given by the Accounting Standard - 17, "Segment Reporting" issued by the Institute of Chartered Accountants of India, the company''s business comprises of only one segment - pharmaceuticals. Hence segment wise analysis is not given as the same is not applicable

(b) MSMED Act

The company has not received any information from suppliers or service providers, whether they are covered under the "Micro, Small and Medium Enterprises (Development) Act 2006" (MSMED Act). Therefore it is not possible to give the information required under the Act.

(c) Previous years figures have been recast, regrouped and rearranged whereever necessary


Mar 31, 2012

1 Corporate information

NGL Fine-Chem Limited is a public company domiciled in India and incorporated under the provisions of the Companies Act,1956. Its Shares are listed on Bombay Stock Exchange in India. The Company is engaged in pharmaceutical business. It undertakes manufacturing of wide range of products.

Equity Shares:

The company has one class of equity shares having a par value of 5 each. 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 shareholding.

Terms and conditions of loans

1. Term Loans from ICICI bank in previous year carrying interest @ 12.25% and repayment to be made in 20 quarters, secured by exclusive mortgage & charge on all of the companys assets including moveable & immovable property, hypothecation of inventories and book debts and guaranteed by Rahul Nachane & Rajesh Lawande, Directors of the company.

2. Term Loans from Bank of Maharashtra in carrying interest @ 12.50% and repayment to be made in 60 monthly instalments, secured by exclusive mortgage & charge on all of the companys assets including moveable & immovable property, hypothecation of inventories and book debts and guaranteed by Rahul Nachane & Rajesh Lawande, Directors of the company.

3. For Vehicle Loans

(i) ICICI Bank Vehicle loan is at 9.07% interest and repayble in 36 instalments and secured by hypothecation of the vehicle

(ii) HDFC Bank Vehicle loan is at 13.75% interest and repayble in 36 instalments and secured by hypothecation of the vehicle

(a) Segment Reporting

Based on the guiding principles given by the Accounting Standard - 17, "Segment Reporting" issued by the Institute of Chartered Accountants of India, the company's business comprises of only one segment - pharmaceuticals. Hence segment wise analysis is not given as the same is not applicable

(b) MSMED Act

The company has not received any information from suppliers or service providers, whether they are covered under the "Micro, Small and Medium Enterprises (Development) Act 2006" (MSMED Act). Therefore it is not possible to give the information required under the Act.

(c) Previous years figures have been recast, regrouped and rearranged whereever necessary


Mar 31, 2011

1. Contingent Liabilities

(i) Estimated amount of contracts remaining to be executed on capital account and not paid for - Rs. 1.13 lakhs (Previous year Rs. 46.87 lakhs)

(ii) Letters of credit established for which goods are yet to be received and provided for - Rs. 50.13 lakhs (Previous year - Rs. 29.09 lakhs).

(iii) Bank Guarantees outstanding - NIL (Previous year - Rs. NIL lakhs).

2. There is no employee drawing remuneration in excess of the limits laid down under Section 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules 1975. (Previous year - Nil).

3. Segment Reporting

Based on the guiding principles given by the Accounting Standard - 17 "Segment Reporting" issued by the Institute of Chartered Accountants of India, the companys business comprises of only one segment - pharmaceuticals. Hence segment wise analysis is not given as the same is not applicable.

4. Related parties disclosures

Disclosures as required by Accounting Standards 18 "Related Party Disclosures" are given below:

(a) Related parties with whom transactions have taken place during the year.

Associate Companies/Firms in which Directors or their relatives are interested - NIL

Key management personnel and their relatives with whom company has transacted

Name Designation Relatives

Rahul Nachane Managing Director -

Rajesh Lawande Executive Director N. G. Lawande

A. G. Lawande

5. Retirement benefits:

Short term benefits (Leave encashment)

The company has provided for accumulated compensated absences (leave encashment) as per AS 15 (Revised 2005) Accounting for Retirement Benefits. The provision is made on the basis of the total accumulated leave of employees as on Balance Sheet date valued at the current salary or wage rate. The current years provision is charged under Salaries & Wages amounting to Rs. 21,68,515 (Previous year Rs. 11,77,130).

6. The company has not received any information from suppliers or service providers, whether they are covered under the "Micro, Small and Medium Enterprises (Development) Act 2006". Therefore it is not possible to give the information required under the Act.

7. Value added tax (VAT) recoverable has been recorded on the basis of claims submitted or in the process of being submitted, as per rules of the relevant act and which in the opinion of the company are recoverable.

8. Previous years figures have been recast, regrouped and rearranged wherever necessary.




Mar 31, 2010

1. Contingent Liabilities

(i) Estimated amount of contracts remaining to be executed on capital account and not paid for - Rs. 46.87 lakhs (Previous year Rs. 1.06 lakhs)

(ii) Letters of credit established for which goods are yet to be received and provided for - Rs. 29.09 lakhs (Previous year - Rs. 30.85 lakhs).

(iii) Bank Guarantees outstanding - NIL (Previous year - Rs. NIL lakhs).

2. There is no employee drawing remuneration in excess of the limits laid down under Section 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules 1975. (Previous year - Nil).

3. Segment Reporting

Based on the guiding principles given by the Accounting Standard - 17 "Segment Reporting" issued by the Institute of Chartered Accountants of India, the companys business comprises of only one segment - pharmaceuticals. Hence segment wise analysis is not given as the same is not applicable.

4. Retirement benefits: Contributions towards gratuity are made to the Employees Group Gratuity Scheme operated by the Life Insurance Corporation of India. The basis of actuarial valuation is given below:

Actuarial assumptions

Mortality rate As per 1994-96 LIC Mortality tables

Withdrawal rate 1% to 3% depending on age

Salary escalation rate 4% for each year

Discounting rate LIC discounting rate (present 8%)

Gratuity benefits As per the Payment of Gratuity Act

1972 as amended from time to time.



Short term benefits (Leave encashment)

The company has provided for accumulated compensated absences (leave encashment) as per AS 15 (Revised 2005) Accounting for Retirement Benefits. The provision is made on the basis of the total accumulated leave of employees as on Balance Sheet date valued at the current salary or wage rate. The current years provision is charged under Salaries & Wages amounting to Rs. 11,77,130 (Previous year Rs. 3,68,099).

5. The company has provided for losses arising from forward contract/derivates in foreign exchange to the extent of Rs. NIL (Previous year - Rs. 1,03,866).

6. The company has not received any information from suppliers or service providers, whether they are covered under the "Micro, Small and Medium Enterprises (Development) Act 2006". Therefore it is not possible to give the information required under the Act.

7. Value added tax (VAT) recoverable has been recorded on the basis of claims submitted or in the process of being submitted, as per rules of the relevant act and which in the opinion of the company are recoverable.

8. Additional information pursuant to provisions of Paragraph 3, 4C and 4D of Part II of Schedule VI to the Companies Act, 1956.

9. Previous years figures have been recast, regrouped and rearranged wherever necessary.

10. Balance Sheet Abstract and Companys General Business Profile:

II. Capital raised during the year (Amount in Rs. thousand)

Public Issue Nil Right Issue Nil

Bonus Issue Nil Private Placement Nil

V. Generic Names of Three Principal Products/Services of Company

Item Code No. Product description

(ITC Code)

292700 Diminazene Aceturate

300939 Diminazene Granules

300939 Pharmaceutical Formulations

 
Subscribe now to get personal finance updates in your inbox!