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Notes to Accounts of NOCIL Ltd.

Mar 31, 2017

(d) Rights, preferences and restrictions attached to Equity shares

The Company has a single class of Equity Shares. 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 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.

Note :

1. Figures in bracket denotes previous year figures.

2. Deductions in Plant and Equipment includes assets written off during the year - Gross block Rs.623.35 lakhs (previous year Rs.190.01 lakhs) Net book value Rs.65.43 lakhs (previous year Rs.46.64 lakhs).

3. Adjustments under Depreciation and Amortization for the previous year was on account of transitional provisions of Schedule II to the Companies Act, 2013.

Note:

(i) Pursuant to an agreement entered into between the core promotors of the Company and some of the promtor companies and approved by the Board of Directors of the Company on 6 August 2016, the Company, during the year has sold part of its investments (Non-current investment) in Navin Flourine International Limited. The profit on sale of the said investments aggregating to Rs.1,969.57 lakhs has been disclosed as ‘Exceptional Item''.

(ii) Pursuant to the agreement mentioned in the note (i), 703,375 Equity shares of Mafatlal Industries Limited were purchased during the year.

Had fair value method been used, the compensation cost would have been higher by Rs.151.60 Lakhs (previous year Rs.116.36 Lakhs), profit after tax would have been lower by Rs.106.62 lakhs (previous year Rs.75.99 Lakhs) and EPS - Basic would have been Rs.7.26 (lower by Rs.0.07) (previous year Rs.4.79 per share (lower by Rs.0.04) and Diluted would have been Rs.7.22 (lower by Rs.0.07) (previous year Rs.4.74 per share (lower by Rs.0.04)).

The Company expects to contribute Rs.215.00 lakhs (previous year Rs.337.26 Lakhs) to its Gratuity plan for the next year.

In assessing the Company’s Post Retirement Liabilities the Company monitors mortality assumptions and uses up-to-date mortality tables. The base being the Indian Assured Lives Mortality (2006-08) ultimate tables.

Expected return on plan assets is based on expectation of the average long term rate of return expected on investments of the fund during the estimated term of the obligations.

The estimates of the future salary increase, considered in actuarial valuation, take account of inflation, seniority, promotion, and other relevant factors, such as supply and demand in the employment market.

Other Disclosures:

4. The amounts due to Micro and Small Enterprises as defined in the ‘The Micro, Small and 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. This has been relied upon by the auditors. The disclosures relating to Micro and Small Enterprises as at the year-end are as follows:

5. Details of specified bank notes (SBNs)

The details of holding and dealing in SBNs by the company during the period from 8 November 2016 to 30 December 2016 are as follows

6. Derivative Instruments and Foreign Currency Exposure

(a) The Company has entered into forward exchange contracts for hedge purposes, not intended for trading or speculation purposes, to establish the amount of currency in Indian Rupees available at the settlement date of certain receivables. The following are the outstanding forward exchange contracts entered into by the Company:

7. Details of expenditure and income on in house approved Research and Development (R&D) facility

Particulars (as identified and bifurcated by the management of the company)

Capital expenditure is not on incurrence basis thus does not include net addition in capital work in progress

8. The Board of Directors at it''s meeting held on 8 May 2017 have recommended a dividend of Rs.1.80 (Previous year Rs.1.20) per equity share of Rs.10 each, subject to approval by the shareholders at the ensuing Annual General Meeting.

9. Details of Loans given, Investment made and Guarantee given covered under section 186(4) of the Companies Act, 2013:

(i) The Company has not given any loans or guarantees.

(ii) Investments made by the Company as at 31 March 2017 (Refer note no. 11)

10. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.


Mar 31, 2016

1. Figures in bracket denotes previous year fgures.

2. Adjustments in buildings aggregating to Nil (previous year Rs. 17.47
lakhs) represents commercial property given under operating lease
during the year.

3. Deductions in Plant and Equipment includes assets written off
during the year - Gross block Rs. 190.01 lakhs (previous year Rs. 365.34
lakhs) Net book value Rs. 46.64 lakhs (previous year Rs. 125.23 lakhs).

4. Adjustments under Depreciation and Amortization for the previous
year was on account of transitional provisions of Schedule II to the
Companies Act, 2013 (refer note 27).

Note:

566,320 Equity shares of Navin Fluorine International Limited were
received under the rehabilitation scheme of Mafatlal Industries Limited
sanctioned by the Board for Industrial and Financial Reconstruction in
its order dated 30th October, 2002.

1. During the year ended 31 March 2015, pursuant to the notifcation of
Schedule II to the Companies Act, 2013 with effect from April 1, 2014,
the Company revised the estimated useful life of relevant assets to
align the useful life with those specifed in Schedule II. Pursuant to
the transitional provisions prescribed in Schedule II to the Companies
Act, 2013, the Company had fully depreciated the carrying value of the
assets, net of residual value, where the remaining useful life of the
asset was determined to be nil as on April 1, 2014, and adjusted an
amount of Rs. 34.92 lakhs (net of deferred tax of Rs. 17.99 lakhs) against
the opening balance in the Statement of Proft and Loss under Reserves
and Surplus.

2. The Company is primarily engaged in the business of manufacturing
and trading of rubber chemicals, which, in the context of Accounting
Standard 17 on ''Segment Reporting'', constitutes a single reportable
segment.

3. The Company''s signifcant leasing arrangements are in respect of
operating leases for premises (residential, offces, godowns etc.).
These lease arrangements are ranging between 11 months to 60 months
generally or longer and are renewable by mutual consent or mutually
agreeable terms. The aggregate lease rentals expense and income is Rs.
290.09 Lakhs (previous year Rs. 300.05 Lakhs) and Rs. 56.99 Lakhs (previous
year Rs. 48.04 Lakhs) respectively.

4. Related Parties

(A) Name of related parties and description of relationship

(i) Subsidiary Company:

PIL Chemicals Limited (PIL)

(ii) Enterprises over which Directors and Relatives of such personnel
exercise signifcant infuence:

Navin Fluorine International Limited

Mafatlal Industries Limited

Shri Sadguru Seva Sangh Trust

Sri Chaitanya Seva Trust

(iii) Key Management Personnel:

Mr. C. R. Gupte Mr. S. R. Deo

Had fair value method been used, the compensation cost would have been
higher by Rs. 116.36 Lakhs (previous year Rs.12.92 Lakhs), proft after tax
would have been lower by Rs.75.99 lakhs (previous year Rs. 8.54 Lakhs) and
EPS – Basic would have been Rs. 4.79 (lower by Rs.0.04) (previous year
Rs.3.52 per share (lower by Rs. 0.01) and Diluted would have been Rs. 4.74
(lower by Rs. 0.04 (previous year Rs. 3.50 per share (lower by Nil)).

The Company expects to contribute Rs. 337.26 lakhs (previous year Rs.
210.30 Lakhs) to its Gratuity plan for the next year.

In assessing the Company''s Post Retirement Liabilities the Company
monitors mortality assumptions and uses up-to-date mortality tables.
The base being the Indian Assured Lives Mortality (2006-08) ultimate
tables.

Expected return on plan assets is based on expectation of the average
long term rate of return expected on investments of the fund during the
estimated term of the obligations.

The estimates of the future salary increase, considered in actuarial
valuation, take account of infation, seniority, promotion, and other
relevant factors, such as supply and demand in the employment market.

5. Derivative Instruments and Foreign Currency Exposure

(a) The Company has entered into forward exchange contracts for hedge
purposes, not intended for trading or speculation purposes, to
establish the amount of currency in Indian Rupees available at the
settlement date of certain receivables. The following are the
outstanding forward exchange contracts entered into by the Company:

6. Details of Loans given, Investment made and Guarantee given
covered under section 186(4) of the Companies Act, 2013: (i) The
Company has not given any loans or guarantees. (ii) Investments made
by the Company as at 31 March 2016 (Refer note no. 11)

7. Previous year''s fgures have been regrouped / reclassifed wherever
necessary to correspond with the current year''s classifcation /
disclosure.


Mar 31, 2015

CORPORATE INFORMATION

NOCIL Limited (the Company) was incorporated on 11 May 1961, and is engaged in manufacture of rubber chemicals. The Company has manufacturing facilities at Navi Mumbai (Maharashtra) and at Dahej (Gujarat). The products manufactured by the Company are used by the tyre industry and other rubber processing industries.

2 Contingent liability in respect of: (Rs. in Lakhs) 31 March 2015 31 March 2014

(a) Claims against the Company 47.12 62.27 not acknowledged as debts

(b) Central excise duty and 63.11 65.78 Customs duty demands disputed

(c) Income-tax demands disputed 1,074.30 1,074.30

(d) Sales tax demands disputed 393.81 393.81

Note: The Company has contested / filed appeals in respect of the aforesaid disputed matters before the authorities. The management is hopeful that matters will be decided in favour of the Company.

3. The Company is primarily engaged in the business of manufacturing and trading of rubber chemicals, which, in the context of Accounting Standard 17 on ''Segment Reporting'', constitutes a single reportable segment.

4. The Company''s significant leasing arrangements are in respect of operating leases for premises (residential, offices, godowns etc.) These lease arrangements are ranging between 11 months to 60 months generally or longer and are renewable by mutual consent or mutually agreeable terms. The aggregate lease rentals expense and income is '' 300.05 Lakhs (previous year Rs. 261.78 Lakhs) and Rs. 48.04 Lakhs (previous year Rs. 36.75 Lakhs) respectively.

5. During the year, pursuant to the notification of Schedule II to the Companies Act, 2013 with effect from April 1, 2014, the Company revised the estimated useful life of relevant assets to align the useful life with those specified in Schedule II. Pursuant to the transitional provisions prescribed in Schedule II to the Companies Act, 2013, the Company has fully depreciated the carrying value of the assets, net of residual value, where the remaining useful life of the asset was determined to be nil as on April 1,2014, and adjusted an amount of Rs 34.92 lakhs (net of deferred tax of Rs 17.99 lakhs) against the opening balance in the Statement of Profit and Loss under Reserves and Surplus.

The depreciation expense in the Statement of Profit and Loss for the year is lower by Rs. 456 .24 lakhs and profit after tax for the year is higher by Rs. 301.57 lakhs consequent to the change in the useful life of the assets.

6. Related Parties

(A) Name of related parties and description of relationship

(i) Subsidiary Company:

PIL Chemicals Limited (PIL) (Formerly known as PIL Chemicals Private Limited)

(ii) Enterprises over which Directors and Relatives of such personnel exercise significant influence:

Navin Fluorine International Limited Mafatlal Industries Limited Shri Sadguru Seva Sangh Trust Sri Chaitanya Seva Trust

(iii) Key Management Personnel:

Mr. C. R. Gupte

Mr. S. R. Deo (w.e.f. - 1 January 2014)

Had fair value method been used, the compensation cost would have been higher by Rs. 12.92 Lakhs (previous year Rs. 21.35 Lakhs), profit after tax would have been lower by Rs. 8.54 lakhs (previous year Rs. 14.55 Lakhs) and EPS - Basic would have been Rs. 3.52 (lower by Rs. 0.01) (previous year Rs. 1.46 per share (lower by Rs. 0.01) and Diluted would have been Rs. 3.50 (lower by Nil) (previous year Rs. 1.46 per share (lower by Rs. 0.01)).

The Company expects to contribute Rs. 210.30lakhs (previous year Rs. 138.78Lakhs) to its Gratuity plan for the next year.

In assessing the Company''s Post Retirement Liabilities the Company monitors mortality assumptions and uses up-to date mortality tables. The base being the Indian Assured Lives Mortality (2006-08) ultimate tables.

Expected return on plan assets is based on expectation of the average long term rate of return expected on investments of the fund during the estimated term of the obligations.

The estimates of the future salary increase, considered in actuarial valuation, take account of inflation, seniority, promotion, and other relevant factors, such as supply and demand in the employment market.

7. During the previous year ended 31 March 2014, the Company implemented a voluntary retirement scheme at its Navi Mumbai plant. The compensation paid during the previous year under the said scheme of Rs. 203.45 lakhs has been debited to the statement of Profit and loss and shownas an exceptional item in the previous year.

8. Details of Loans given, Investment made and Guarantee given covered under secton 186(4) of the Companies Act, 2013:

(i) The Company has not given any loans or guarantees.

(ii) Investments made by the Company as at 31 March 2015 (Refer note no. 11)

9. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.


Mar 31, 2014

1. Contingent liability in respect of:

(Rs. in Lakhs)

2013-14 2012-13

(a) Claims against the Company not 62.27 140.58 acknowledged as debts

(b) Central excise duty and Customs duty 65.78 139.00 demands disputed

(c) Income tax demands disputed 1,074.30 865.83

(d) Sales tax demands disputed 393.81 364.36 Note: The Company has contested / filed appeals in respect of the aforesaid disputed matters before the authorities. The management is hopeful that matters will be decided in favour of the Company.

2 . Estimated amount of contracts remaining 149.26 142.70 to be executed on capital account and not provided for (net of advances)

3. The Company is primarily engaged in the business of manufacturing and trading of rubber chemicals, which, in the context of AS 17 on ''Segment Reporting'', constitutes a single reportable segment.

4. The Company''s significant leasing arrangements are in respect of operating leases for premises (residential, offices, godowns etc.). These lease arrangements are ranging between 11 months to 60 months generally or longer and are renewable by mutual consent or mutually agreeable terms. The aggregate lease rentals expense and income is Rs. 261.78 Lakhs (previous year Rs. 192.39 Lakhs) and Rs. 36.75 Lakhs (previous year Rs. 27.00 Lakhs) respectively.

5. The amount of borrowing costs capitalized during the year is NIL (previous year Rs. 1,013.69 Lakhs)

6. Related Parties

(A) Name of related parties and description of relationship

(I) Subsidiary Company:

PIL Chemicals Private Limited (PIL)

(ii) Enterprises over which Directors and Relatives of such personnel exercise significant influence:

Navin Fluorine International Limited

Mafatlal Industries Limited

(iii) Key Management Personnel:

Mr. C. R. Gupte

Mr. S. R. Deo (w.e.f. - 1st January 2014)

7. The Company has implemented a voluntary retirement scheme at its Navi Mumbai plant. The compensation paid during the current year under the said scheme of Rs. 203.45 lakhs has been debited to the Statement of Profit and loss and disclosed as an exceptional item.

8. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.


Mar 31, 2013

1 Contingent liability in respect of: (Rs. in Lakhs)

(a) Claims against the Company not 140.58 202.88 acknowledged as debts

- Legal cases against the company

(b) Central excise duty and Customs duty 139.00 153.42 demands disputed

(c) Income tax demands disputed 865.83 2,816.88

(d) Sales tax demands disputed 364.36 794.87

2. Estimated amount of contracts remaining 142.70 3,232.33

To be executed on capital account and not provided for (net of advances)

3. The company is primarily engaged in the business of manufacturing and trading of rubber chemicals, which, in the context of AS 17 on ''Segment Reporting'', constitutes a single reportable segment.

4. The Company''s significant leasing arrangements are in respect of operating leases for premises (residential, offices, godowns etc.). These lease arrangements are ranging between 11 months to 60 months generally or longer and are renewable by mutual consent or mutually agreeable terms. The aggregate lease rentals expense and income is Rs.192.39 Lakhs (previous year Rs.142.15 Lakhs) and Rs.27.00 Lakhs (previous year Rs.27.00 Lakhs) respectively.

5. The amount of borrowing costs capitalized during the year is Rs. 1,013.69 Lakhs (previous year Rs.467.14 Lakhs)

6. Related Parties

(A) Name of related parties and description of relationship

(i) Subsidiary Company:

PIL Chemicals Private Limited (PIL)

(ii) Enterprises over which Directors and Relatives of such personnel exercise significant influence:

Navin Fluorine International Limited Mafatlal Industries Limited

(iii) Key Management Personnel:

Mr. C. R. Gupte

7. The amounts due to Micro and Small Enterprises as defined in the "The Micro, Small and 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. This has been relied upon by the auditors. The disclosures relating to Micro and Small Enterprises as at 31st March, 2013 are as follows:

8. Derivative Instruments and Foreign Currency Exposure

(a) There are no outstanding forward exchange contracts as at 31 March 2013 and 31 March 2012.

(b) The year-end foreign currency exposures that have not been hedged are as follows:

9. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.


Mar 31, 2012

(a) Rights attached to equity shares

The company has a single class of equity shares. 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 event of liquidation, the equity shareholders are eligible to receive the assets of the company, in proportion to their shareholding.

Note :

The Company carried a Reserve for Contingency to meet a shortfall, if any, in realization of intercorporate loans. Such loans having been repaid during the year, the Reserve for Contingency is transferred to Surplus in Statement of Profit and Loss.

Note:

1. 566,320 Equity shares of Navin Fluorine International Ltd. were received under the rehabilitation scheme of Mafatlal Industries Ltd sanctioned by the Board for Industrial and Financial Reconstruction in its order dated 30th October, 2002.

2. Pursuant to the scheme of amalgamation approved by the Bombay High Court, subsidiary companies (Ensen Holdings Limited and Urvija Investments Limited) were merged with another subsidiary company (PIL Chemicals Private Limited) with retrospective effect from 1 April 2010. Consequent to the merger, the company has received 844,833 equity shares of Rs. 10 each of PIL Chemicals Private Limited at a premium of Rs. 20 per share in lieu of its holdings in Ensen Holdings Limited and Urvija Investments Limited. This has resulted in excess provision for diminution of Rs. 22.45 Lakhs in the value of investment in Ensen Holdings Limited booked in earlier years, which has been reversed.

1. The company is primarily engaged in the business of manufacturing and trading of rubber chemicals, which, in the context of AS 17 on 'Segment Reporting', constitutes a single reportable segment.

2. The Company's significant leasing arrangements are in respect of operating leases for premises (residential, offices, godowns, subletting etc.). These lease arrangements are ranging between 4 months to 60 months generally or longer and are renewable by mutual consent or mutually agreeable terms. The aggregate lease rentals expense and income is Rs.142.15 Lakhs (previous year Rs. 180.03 Lakhs) and Rs. 27.00 Lakhs (previous year Rs. 53.20 Lakhs) respectively.

3. The amount of borrowing costs capitalized during the year is Rs.467.14 Lakhs (previous year Nil)

4. Related Parties

(A) Name of related parties and description of

relationship

(i) Subsidiary companies:

PIL Chemicals Private Limited (PIL)

Ensen Holdings Limited

(merged into PIL with effect from 1 April 2010)

Urvija Investments Limited

(merged into PIL with effect from 1 April 2010)

(ii) enterprises over which directors and Relatives of such personnel exercise significant influence:

Navin Fluorine International Limited Mafatlal Industries Limited

(iii) Key management Personnel:

Mr. C. R. Gupte

(B) transactions with related parties

Had fair value method been used, the compensation cost would have been higher by Rs. 90.78 Lakhs (previous year Rs. 97.35 Lakhs), proft after tax would have been lower by Rs. 61.33 Lakhs (previous year Rs. 68.14 Lakhs) and EPS – both Basic and Diluted – would have been Rs. 2.07 per share (previous year Rs. 2.03 per share).

The company expects to contribute Rs. 98.45 Lakhs (previous year Rs. 102.73 Lakhs) to its Gratuity plan for the next year. In assessing the Company's Post Retirement Liabilities the company monitors mortality assumptions and uses up-to-date mortality tables. The base being the LIC 1994-96 ultimate tables. Expected return on plan assets is based on expectation of the average long term rate of return expected on investments of the fund during the estimated term of the obligations. The estimates of the future salary increase, considered in actuarial valuation, take account of infation, seniority, promotion, and other relevant factors, such as supply and demand in the employment market.

5. The amount of exchange differences included in the net profit for the year aggregates to Rs. 181.47 Lakhs (Previous year Rs.(29.02) Lakhs).

6. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.


Mar 31, 2011

(Rs in lakhs) 2010-11 2009-10

1. Estimated amount of contract remaining to be executed on capital account 2868.85 125.94 and not provided for (net of advances)

2. Claims against the Company not acknowledged as debts 210.55 274.04

3. Contingent liability in respect of :

(a) Central excise duty and Customsduty demands disputed 105.63 126.48

(b) Income tax demands disputed 3,816.81 1,261.70

(c) Sales tax demands disputed 794.87 807.44

4. The Company as at 31 March 2011 carries a total contingency reserve of Rs3,000 lakhs (previous year Rs3,000 lakhs) which, in its opinion, is adequate to meet any short fall/diminution in the ultimate realisation of its Investments, Current Assets and Loans & Advances.

5. The company is primarily engaged in the business of manufacturing and trading of rubber chemicals, which, in the context of AS 17 on Segment Reporting, constitutes a single reporting segment.

6. The Companys significant leasing arrangements are in respect of operating leases for premises (residential, offices, go-downs, subletting etc.). These lease arrangements are ranging between 4 months to 60 months generally or longer and are renewable by mutual consent or mutually agreeable terms. The aggregate lease rentals expenses and income is Rs 180.03 lakhs (previous year Rs379.59 lakhs) and Rs53.20 lakhs (previous year Rs303.27 lakhs) respectively.

7. Related Parties

(A) Name of related parties and description of relationship

(i) Subsidiary Companies :

Ensen Holdings Limited

Urvija Investments Limited

PIL Chemicals Private Limited

(ii) Enterprises over which Directors and Relatives of such personnel exercise significant influence :

Navin Fluorine International Limited

Mafatlal Industries Limited

(iii) Key Management Personnel :

Mr. C. R. Gupte

(iv) Relatives of Key Management Personnel:

Mr. V. R. Gupte

Mrs. A. C. Gupte

Had fair value method been used, the compensation cost would have been higher by Rs 97.35 lakhs (P.Y. Rs30.93 lakhs), profit after tax would have been lower by Rs68.14 lakhs (P.Y. Rs18.72 lakhs) and EPS – both Basic and Diluted – would have been Rs2.03 per share (P.Y. Rs2.11 per share).

The company expects to contribute Rs. 103 lakhs to its Gratuity plan for the next year. In assessing the Companys Post Retirement Liabilities the company monitors mortality assumptions and uses up-to-date mortality tables. The base being the LIC 1994-96 ultimate tables.

Expected return on plan assets is based on expectation of the average long term rate of return expected on investments of the fund during the estimated term of the obligations.

The estimates of the future salary increase, considered in actuarial valuation, take account of inflation, seniority, promotion, and other relevant factors, such as supply and demand in the employment market.

15. Figures of the previous year have been regrouped / rearranged wherever necessary to correspond to figures of the current year. Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.


Mar 31, 2010

(Rs. in lakhs)

2009-10 2008-09

1. Contingent liability in respect of:

(a) Central excise duty and Customs duty demands disputed 126.48 158.27

(b) Income tax demands disputed 1261.70 1261.70 (c) Sales tax demands disputed 807.44 772.59

2. The Company as at 31 March 2010 carries a total contingency reserve of Rs. 3000 lakhs (previous year Rs. 3000 lakhs) which, in its opinion, is adequate to meet any short fall/diminution in the ultimate realisation of its Investments, Current Assets and Loans & Advances.

3. The company is primarily engaged in the business of manufacturing and trading of rubber chemicals, which, in the context of AS 17 on Segment Reporting, constitutes a single reporting segment.

4. The Companys significant leasing arrangements are in respect of operating leases for premises (residential, offices, go- downs, subletting etc.). These lease arrangements are ranging between 4 months to 60 months generally or longer and are renewable by mutual consent or mutually agreeable terms. The aggregate lease rentals expenses and income is Rs 379.59 lakhs (previous year Rs 394.01 lakhs) and Rs 303.27 lakhs (previous year Rs 357.74 lakhs) respectively.

5. Related Parties

(A) Name of related parties and description of relationship (i) Subsidiary Companies:

Ensen Holdings Limited Urvija Investments Limited PIL Chemicals Private Limited

(ii) Enterprises over which Directors and Relatives of such personnel exercise significant influence:

Navin Fluorine International Limited Mafatlal Industries Limited

(iii) Key Management Personnel:

Mr. C. R. Gupte

(iv) Relatives of Key Management Personnel:

Mr. V. R. Gupte Mrs. A. C. Gupte

6. Figures of the previous year have been regrouped / rearranged wherever necessary to correspond with the figures of the current year. Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.

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