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Notes to Accounts of Responsive Industries Ltd.

Mar 31, 2015

1 Company Overview

Responsive Industries Limited ("the Company"), is a major producer and supplier of various products like Vinyl flooring, Rigid PVC, Leather Cloth & Soft Sheeting''s. Applications for Vinyl Flooring include Printing Flooring & Other Flooring and in case of Rigid PVC, it includes Packaging of Pharmaceutical Products in Pharma industry.

2 There are no bonus shares, shares issued for consideration other than cash and shares bought back during the period of five years immediately preceding the reporting date.

3 Rights / Preferences and restrictions attached to equity shares.

Each holder of equity shares is entitled to one vote per equity share. They are entitled to receive dividend proposed by the Board of Directors and approved by shareholders in General Meeting, right to receive annual report and other quarterly / half yearly / annual publications and right to get new shares proportionately in case of issuance of additional shares by the Company.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after the distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

4 Disclosures on Related Parties transactions

i)Nature and Relationship of Related Parties

a) Subsidiary Company

Axiom Cordages Limited

b) Holding Entity

Wellknown Business Ventures LLP

c) Investment in Partnership Firm

1) Maharashtra Holdings

2) Mangaon Holdings

d) Directors & Key Management Personnel

1) Mr. Atit Agarwal Whole-Time Director

2) Mrs. Swati Agarwal Director

3) Mr. Rajesh Pandey Director

4) Miss. Alpa Ramani Company Secretary

e) Relatives of Key Management Personnel

1) Mr. Abhishek Agarwal

2) Mrs. Saudamini Agarwal

f) Entities where Key Management Personnel have Significant Influence

1) One Source Trading Company LLP

2) One Source Enterprises LLP

3) AA Superior Enterprises LLP

5 Pursuant to compliance with the provisions of revised schedule II of the Act, the Management has reviewed / determined the remaining useful life of the tangible fixed assets. Accordingly, the depreciation on tangible fixed assets is provided for in accordance with the provisions of schedule II of the Act. On account of the above change, depreciation for the current year is lower by 6.16 millions. As per the transitional provisions of Schedule II of the Companies Act, 2013 , and in line with the Notification dated August 29,2014 issued by Ministry of Corporate Affairs (MCA), the Company has charged Rs. 5.41 millions to the statement of Profit and Loss on account of the carrying amount of assets where the remaining useful life of the asset is Nil . As permitted by the notification dated August 29,2014 issued by the Ministry of Corporate Affairs, the company will comply with the requirements of paragraph 49a) of the Notes to Schedule II of the Companies Act,2013 relating to componentization from the

6 Segment Reporting

a) Primary (Business) Segment:

As the Company''s business consists of one reportable business segment of Manufacturing and Selling of articles made out of plasticspolymers hence,no separate disclosure pertaining to attributable Revenues, Profits, Assets, Liabilities and Capital employed are given.

b) Secondary (Geographical) Segment:

Secondary segment reporting is performed on the basis of geographical location of the customers. The operations of the Com comprises of local sales and export sales. The Management views the Indian market and Export market as distinct geographical segm The following is the distribution of the Company''s sales by geographical markets :

7 Disclosure under section 186 (4) of Companies Act,2013

a) The Company has not given any loan or guarantee or provided security in connection with loan to any other body corporate or person as specified in section 186 (4) of Companies Act, 2013.

8 Figures of the previous year have been regrouped, reclassified and/or rearranged wherever necessary to confirm with current year''s presentation.


Mar 31, 2014

Not available


Mar 31, 2013

1. Company Overview

Responsive Industries Limited (''RIL'' or ''the Company''), is a major producer and supplier of various products like Vinyl flooring, Rigid PVC, Leather Cloth & Soft Sheetings. Applications for Vinyl Flooring include Printing Flooring & Other Flooring and in case of Rigid PVC, it includes Packaging of Pharmaceutical Products in Pharma industry.

2. Disclosures on Related Parties transactions

i) Nature and Relationship of Related Parties

a) Subsidiary Company

Axiom Cordages Limited

b) Fellow Subsidiary Company

Sun Plastochem Limited

c) Holding Company

Wellknown Business Ventures Private Limited

d) Investment in Partnership Firm

1) Maharashtra Holdings

2) Mangaon Holdings

e) Key Management Personnel

1) Mr. Atit Agarwal Whole-Time Director

2) Mrs. Swati Agarwal Director

3) Mr. Rajesh Pandey Director

4) Mr. S. S. Thakur Independent Director

5) Mr. V. K. Chopra Independent Director

6) Mr. Michael Freedman Independent Director

f) Relatives of Key Management Personnel

1) Mr. Abhishek Agarwal

2) Mrs. Saudamini Agarwal

3) Omprakash Agarwal H.U.F.

4) Sharadkumar Agarwal H.U.F.

g) Entities where Key Management Personnel have Significant Influence

1) OneSource Trading Company LLP

2) OneSource Enter pises LLP

3) AASuperior Enterprises LLP

iii) General Description of significant defined plans Gratuity Plan

Gratuity is payable to all eligible employees of the Company on death or on resignation, or on retirement after completion of five years of service. In assessing the Company''s Post Retirement Liabilities, the company monitors mortality assumptions and uses up- to-date mortality tables. The base being the LIC1994-96 ultimate tables.

4. Details of dues to Micro, Small and Medium Enterprises as per the Micro, Small and Medium Enterprises Development Act, 2006 Particulars

The principal amount and the interest due thereon remaining unpaid to any supplier as at the end of each accounting year

5. Segment Reporting

a) Primary (Business) Segment:

As the Company''s business consists of one reportable business segment of Manufacturing and Selling of Synthetic Ropes of different polymers & combination and hence, no separate disclosure pertaining to attributable Revenues, Profits, Assets, Liabilities and Capital employed are given.

b) Secondary (Geographical) Segment:

Secondary segment reporting is performed on the basis of geographical location of the customers. The operation of the Company comprises of local sales and export sales. The Management views the Indian market and Export market as distinct geographical segments. The following is the distribution of the Company''s sales by geographical markets:


Mar 31, 2012

Note 1:

I. Company Overview

Responsive Industries Limited ('RIL' or 'the Company'), is a major producer and supplier of various products like Vinyl flooring, Rigid PVC, Leather Cloth & Soft Sheeting's. Applications for Vinyl flooring include Printing Flooring & Other Flooring and in case of Rigid PVC, it include Packaging of Pharmaceutical Products in Pharma industry.

Note: The company has only one class of equity shares having a per value of Rs. 1 per share. Each holder of equity shares is entitled to one vote per share. The company declares dividend in Indian rupees. The dividend proposed by Board of Directors is subject to the approval of the shareholders in ensuing Annual General Meeting.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive assets of the company, after the distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders

The Company has sufficient authorized capital to cover the share capital amount resulting from allotment of shares pursuant to such share application money.

The shares shall be allotted once the approval from the respective stock exchanges is obtained.

The loans are repayable in equal installments aggregating to Rs. 3.71 millions (PY Rs. 11.00 millions).

The interest rate on above is ranging between 8.50 to 10.60%.

Loans against vehicles from Banks are secured by way of hypothecation of specific vehicles acquired under the arrangements.

This is a External Commercial Borrowings which is secured by way of first pari passu charge on all fixed assets of the company and second ranking pari passu charge on all current assets of the company.

PCFC Loan amounting to Rs. 47.86 millions & EBRD (Post Shipment) Loan of Rs. 223.96 millions secured by first ranking pari passu hypothecation charge on entire current assets of the company and second ranking pari passu charge on entire fixed assets of the company i.e. Plant & Machinery and Land & Building.

PCFC Loan amounting to Rs. 332.98 millions & EBRD (Post Shipment) Loan of Rs. 81.40 millions secured by first pari passu hypothecation charge on entire current assets of the company and first hypothecation charge on entire Plant & Machinery of the company.

EBRD (Post Shipment Loan) secured by first pari passu charge on hypothecation of book-debts and other current assets with other consortium banks.

Buyer's Credit amounting to Rs. 143.17 millions secured by first pari passu charge on entire assets with other banks and second ranking pari passu charge on entire movable fixed assets of the Company.

Buyer's Credit amounting to Rs. 271.21 millions secured by hypothecation of goods procured under letter of Credit and additional charge on hypothecated stocks and book debts.

Working Capital Loan of Rs. 371.01 millions secured by hypothecation of Investments in Mutual Funds.

2. Contingent Liabilities (Rs. in Millions)

31-Mar-12 31-Mar-11

Details of Contingent Liabilities - -

34. Disclosures on Related Parties transactions

i) Nature and Relationship of Related Parties

a) Subsidiary Company Axiom Cordages Limited

b) Fellow Subsidiary Company Sun Plastochem Limited

c) Holding Company Wellknown Business Ventures Private Limited

d) Investment in Partnership Firm 1) Maharashtra Holdings 2) Mangaon Holdings

e) Key Management personnel

1) Mr. Atit Agarwal Whole-Time Director

2) Mrs. Swati Agarwal Director

3) Mr. Rajesh Pandey Director

4) Mr. Shobha Singh Thakur Independent Director

5) Mr. Vijay Kumar Chopra Independent Director

6) Mr. Michael Freedman Independent Director

f) Relatives of Key Management Personnel

1) Mr. Abhishek Agarwal

2) Omprakash Agarwal H.U.F.

3) Sharadkumar Agarwal H.U.F.

g) Entities where Key Management Personnel have significant influence

1) One Source Trading Company LLP

2) One Source Enterprises LLP

3) AA Superior Enterprises LLP

Note: As the liabilities for gratuity are provided on actuarial basis for the Company as a whole the amounts pertaining to the Directors is not ascertainable & therefore not included above.

iii) General Description of Significant defined plans

Gratuity Plan

Gratuity is payable to all eligible employees of the Company on death or on resignation after completion of five years of service. 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 1994-95 ultimate tables.

3. Segment Reporting

a) Primary (Business) Segment:

As the Company's business consists of one reportable business segment of Manufacturing and Selling of Synthetic Ropes of different polymers & combination and hence, no separate disclosure pertaining to attributable Revenues, Profits, Assets, liabilities and Capital employed are given.

b) Secondary (Geographical) Segment:

Secondary segment reporting is performed on the basis of geographical location of the customers. The operation of the Company comprises of local sales and export sales. The Management views the Indian market and Export market as distinct geographical segments. The following is the distribution of the Company's sales by geographical markets:

4. As notified by Ministry of Corporate Affairs, Revised Schedule VI under the Companies Act, 1965 is applicable to the financial Statements for the financial year commencing on or after 1st April, 2011. Accordingly, the financial Statements for the year ended March 31, 2012 are prepared in accordance with the Revised Schedule VI. The amounts and disclosures included in the financial Statements of the previous year have been reclassified to confirm to the requirements of Revised Schedule VI.


Mar 31, 2011

I. Company Overview

Responsive Industries Limited ('RIL' or 'the Company'), is a major producer and supplier of various products like Vinyl flooring, Rigid PVC, Leather Cloth & Soft Sheeting's. Applications for Vinyl Flooring include Printing Flooring & Other Flooring and in case of Rigid PVC, it includes Packaging of Pharmaceutical Products in Pharma industry.

1. In the opinion of the Board, the Current Assets, Loans & Advances are approximately of the value stated in the financial statements and are realizable in the ordinary course of business. The provision for all known liabilities is adequate.

2. In respect of balance confirmations sought by the Company from various parties reflected under Sundry Debtors, Sundry Creditors and Loans & Advances some have responded to the request of the Company. As such balances of Sundry Debtors, Sundry Creditors and Loans & Advances are taken as appearing in the books of accounts and are subject to confirmation and reconciliation, if any. Consequential impact, if any, will be considered as and when determined.

3. No events or transactions have occurred since the date of Balance Sheet or are pending that would have a material effect on the financial statements at that date or for the period then ended, other than those reflected or fully disclosed in the books of account.

4. Sub division of shares

Effective October 11, 2010 the Company has subdivided the face value of equity shares from Rs.10 each to Rs.1 each (sub division), after obtaining shareholders' approval vide special resolution passed in the 28th Annual General Meeting of the Company held on 10th September, 2010. The basic and diluted earnings per share disclosed, (Refer Note 12 below) have been computed for the current year and recomputed for the previous year based on the revised face value of Rs.1 each.

5. Secured Loans:

i. Working Capital Loan from Banks:

It is secured by first charge in the form of Floating charge on whole of the current assets, book debts & Movable Property. Further, secured by second ranking pari passu charge on entire movable Fixed Assets of the Company both present & future.

ii. Buyer's Credit:

It is secured by first pari passu charge on entire assets and second ranking pari passu charge on entire movable fixed assets of the Company.

iii. Vehicle Loans:

It is secured by specific assets.

6. During the year, in order to comply with the Accounting Standard (AS) 15 (Revised 2005) "Employee Benefits" as notified by the Companies Accounts Standard, Rule 2006, the method of accounting of Gratuity has been changed from cash basis to accrual basis of accounting and accordingly provision has been made as on 31st March, 2011 on the basis of acturial valuation. Due to change in this accounting policy, the profit for the year is lower by Rs. 5.21 Million having consequential effect on the Reserves and Surplus and Current Liabilities.

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 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. The Company had issued 7,000 (0% compulsorily convertible debentures of Rs.100,000/- each) in the Previous Year. The said debentures have been converted into 1,372,500 equity shares at a price of Rs. 510/- per share as per Board Resolution passed in the Board Meeting held on 9th August, 2010. The said conversion is at a Premium of Rs.500/- per share.

8. Related Party Disclosures

(a) Key Management Personnel

Mr. Atit Agarwal Whole time Director

Rajesh Pandey Director

(b) Relatives of key management personnel

i) Mr. Abhishek Agarwal

ii) M/s Om Prakash Agarwal H.U.F.

iii) M/s Sharad Kumar Agarwal H.U.F.

(c) Subsidiary

Axiom Cordages Limited

(d) Fellow Subsidiary

Sun Plastochem Limited

(e) Holding Company

Welknown Business Ventures Private Limited

(f) Enterprise owned or significantly influenced by Key Management Personnel or their relatives:

i) One Source Trading Company LLP (with effect from 25th March, 2011)

ii) One Source Enterprises LLP Hi) AA Superior Enterprises LLP

There are no transactions during the current year with the related parties mentioned in (b), (d) and (f) (ii) & (iii)

Following are the transactions with the related parties mentioned in (a), (c), (e) and (f) (i) above

9. Segmental Information

i) Primary (Business) Segment

As the company's business consists of one reportable business segment of Plastic products, hence, no separate disclosures pertaining to attributable Revenues, Profits, Assets, Liabilities, Capital Employed are given.

10. Amounts due to Micro, Small and Medium Enterprise:

As per the requirement of section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 following information has been disclosed. This information takes into account only those suppliers who have responded to the enquiries made by the Company for this purpose.

11. The previous year's figures have been regrouped, rearranged, reclassified and reworked wherever necessary. 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

I) Company Overview

Responsive Industries Limited ("RIL" or "the Company), is a major producer and supplier of various products like Vinyl flooring. Rigid PVC. Leather Cloth & Soft Sheetings. Applications for Vinyl Flooring include Printing Flooring & Other Flooring and in case of Rigid PVC, it includes Packaging of Pharmaceutical Products in Pharma industry.

1) The Schedules referred to in the Balance Sheet & Profit & Loss Account form an integral part of the Accounts.

2) In the opinion of the Board, the Current Assets. Loans & Advances are approximately of the value stated in the financial statements and are realisable in the ordinary course of business. The provision for all known liabilities is adequate.

3) In respect of balance confirmations sought by the Company from various parties reflected under Sundry Debtors, Sundry Creditors and Loans & Advances, very few have responded to the request of the Company. As such balances of Sundry Debtors, Sundry - ¦ - Creditors and Loans & Advances are taken as appearing in the books of accounts and are subject to confirmation and reconciliation. if any. Consequential impact, if any will be considered as and when determined.

4) No events or transactions have occurred since the date of Balance Sheet or are pending that would have a material effect on the financial statements at that date or for the period then ended, other than those reflected or fully disclosed in the books of account.

5) Current liabilities includes unpaid dividend of Rs. 3.870 (P.Y. Rs. 3.870).

6) Contingent Liabilities not provided for in respect of Letter of Credit issued by Bank amounting to Rs. 232.18 Million (P. Y. Rs. Nil).

7) No Provision for Leave Encashment & Gratuity as (equiied by AS-1S (Revised 2005) Employee Benefits notified by Companies (Accounting Standard) Rules 2006, has been made and the same shall be accounted few as and when paid.

8) Estimated amount of Contracts remaining to be executed on capital account and not provided for (net of advances) is Rs. Nil (P.Y. Rs. 21.56 Million).

9) The Company has continued to adjust the foreign currency exchange differences of Rs. 8.93 Million (P.Y. Rs. 55.39 Million) on amount due to the foreign suppliers of fixed assets to whom dues are payable exceeding one year to the carrying cost of fixed assets which is in accordance with the notification no. G.S.R. 25(E) issued by the Ministry of Corporate Affairs. New Delhi dated 31st March. 2009. however at variance to the treatment prescribed in accounting Standard (AS -11) on "Effects of Changes in Foreign Exchange Rates" notified in the Companies (Accounting Standards) Rules 2006.

10)Closing stock of Finished goods amounting to Rs. 11.87 Million (P.Y. Rs. Nil) includes Excise duty component amounting to Rs. 1.11 Million (P.Y. Rs. Nil).

11) During the year the Company has issued 7.000 (0% compulsorily convertible debentures of Rs. 1,00,000/- each). The said debentures shall mandatorily be converted by the Company into equity shares on 9th August. 2010.

12) Taxes on Income

a) Provision for taxation for the accounting year has been made in accordance with the provisions of the Income Tax Act. 1961.

b) In terms of Accounting Standard on "Accounting for Taxes on Income" (AS 22) the Company has recognised Deferred Tax Liability amounting to Rs. 43.61 Million (P.Y. Rs. 7.47 Million) for the year ended 31st March 2010 in the Profit & Loss Account.

13) Related Party Disclosures

a) Key Management Personnel

i) Mr. Atit Agarwal Whole-Time Director

ii) Mrs. Swati Agarwal Director

iii) Mr. Santosh Shinde Director

iv) Mr. Ashok Jha Director

v) Mr. Rajesh Pandey Director

vi) Mr. Ramesh Mistry Director

b) Relatives of key management personnel

i) Mr. Abhisek Agarwal

ii) M/s. Om Prakash Agarwal H.U.F.

c) Subsidiary

Axiom Cordages Ltd. {Formerly known as Axiom Impex International Ltd.)

d) Fellow Subsidiary

Sun Plastocbem Limited

e) Holding Company

Welknown Business Ventures Private Limited

14) The previous years figures have been regrouped, rearranged, reclassified ana reworked wherever necessary. 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.

When it comes to shaping the future, there are three kinds of people: those who let it happen, those who make it happen, and those who wonder what happened. At Axiom Cordages, we try to belong to the second category on the strength of our research and development capabilities and an inherent drive towards innovation and business growth.

The external environment Is also enabling in more senses than one. The truth of the statement is borne out by the fact that the world is witnessing green shoots of recovery after a prolonged period of socio-economic hardship and de-growth. There has been a discernible improvement in the global economy, although the extent of the recovery varies from one country to another. Even the Indian economy has demonstrated strong resilience, notwithstanding the global economic crisis, as a result of two factors: the proactive measures undertaken by the Indian Government and sustained growth in domestic demand. The demand In the plastic Industry continued to grow In line with the countrys GDP growth, growing at about 7-8 % annually. Axiom Cordages has continued to perform well, riding on the aest of these positive realities. While our revenues and post-tax profits increased by57% and 25% compared to last year, our operating margins touched 16%.

Competing globally

Axiom generates more than half of its revenues through its exports across 65 countries. Our significant technology investments have enabled us to manufacture products that are globally accepted. All our products have received quality certifications from the Lloyds (Germany) for the requisite minimum guaranteed breaking strength, In line with international standards. The Companys products are well accepted in the International market for their quality excellence and competitive pricing.


Mar 31, 2009

1 Figures in brackets represents outflows.

2 Previous Year figures have been recast/restated wherever necessary.

3. Amalgamation of Responsive Polymers International Ltd. With the Company (RID

- Pursuant to the Scheme of Amalgamation under section 391 to 394 of the Companies Act, 1956 (the Scheme) of the erstwhile Responsive Polymers International Limited (RPIL) with the Company, as approved by the Honble High Court of Mumbai vide its Order dated 13th February 2009, all the assets and liabilities of RPIL has been transferred to and vested in the Company with effect from the appointed date i.e. 1st July 2006, on a going concern basis. The Scheme has accordingly being given effect to in these financial statements and operational results for the year of RPIL have been incorporated in the Companys financial statements

- The operations of RPIL included manufacturing of I VC/Plastic products which is in line with that of the Company.

- The amalgamation has been accounted for under the " Pooling of Interest Method " as prescribed under Accounting Standard (AS 14 ) Accounting for Amalgamations issued by the ICAI. Accordingly all the assets, liabilities and reserves of the erstwhile RPIL have been taken over at their respective book values by the Company

- Pursuant to amalgamation of RPIL with the Company 38,00,000 Equity Shares of Rs.10/- each fully paid up of the Company were issued and allotted to the shareholders of erstwhile RPIL in accordance with swap ratio of 2:3 ( modified from swap ratio of 1: 6 on account of 28,50,000 Equity Shares of Rs.10/- each fully paid up of the Company declared and allotted as bonus shares in the ratio of 1:3 by the Company post the appointed date ) These 28,50,000 Equity Shares are disclosed in Share Capital Suspense Account pending increase in Authorised Share Capital of the Company .

- The Company has written off the Preference Share Capital of Rs.192.93 Millions which was subscribed and paid-up Preference Share Capital made in RPIL as it ceases to exist after the amalgamation

- Debit Balance in Profit & Loss Account amounting to Rs.46.24 Millions of erstwhile RPIL is adjusted in Profit & Loss Account of the Company.

- Total Current Assets Rs.2.42 Millions and Current Liabilities Rs. 0.97 millions taken over on Amalgamation are transferred to respective account.

- Resultant Gain of Rs.19.00 millions transferred to General Reserve Account.

- In view of above, figures in respect of the current financial year are not strictly comparable with those of the previous year since the current year figures include the operations of RPIL on account of amalgamation. Previous year figures are re-grouped, re- arranged and re-casted wherever considered necessary.

4. Taxes on Income

a. Provision for taxation for the accounting year has been made in accordance with the provisions of the Income Tax Act, 1961.

b. In terms of Accounting Standard on "Accounting for Taxes on Income" (AS 22) the Company has recognized Deferred Tax Liability amounting to Rs. 7.47 Millions for the year ended 31st March 2009 in the Profit & Loss Account.

5. Related Party Disclosures

(a) Key Management Personnel

i) Mr. Santosh Shinde Director

ii) Mr. Ashok Jha Director

iii) Mr. Rajesh Pandey Director

iv) Mr. Atit Agarwal Director

(b) Relatives of key management personnel

i) Mr. Abhisek Agarwal

ii) M/s. Om Prakash Agarwal (H.U.F.)

(c) Subsidiary and Fellow Subsidiary

i) Axiom Impex International Limited (Subsidiary)

ii) Sun Plastochem Limited (Fellow Subsidiary)

(d) Holding Company

i) Wclknown Business Ventures Private Limited

6. Additional Information Pursuant to the Provision of Part II of the Schedule VI of the Companies Act 1956.

A. Quantitative Information:

i) Installed Capacity N.A.

ii) Purchase/Production, Consumption/Sales/Stock:

15. Foreign Currency Exposure

Debtors - Non hedged amount $ .06 Millions

Advances from Djbtors - Non hedged amount $ 5.19 millions

Creditors - Non hedged amount $ 0.05 millions

Advances to creditors $ - Non hedged amount $ 1.17 millions

7. Segmental Information

i) Primary (Business) Segment As the company s business consists of one reportable business segment of Manufacturing and Selling of products, hence no separate disclosures pertaining to attributable Revenues, Profits, Assets, Liabilities, Capital Employed are given.

ii) Secondary (Geographical) Segment Secondary segment reporting is performed on the basis of geographical location of the customers. The operation of the Company comprises local sales and export sales. The Management views the Indian market and export market as distinct geographical segments. The following is the distribution of the Companys sale by geographical markets:

8. The names of the Micro, Small and Medium Enterprises suppliers defined under "The Micro Small and Medium Enterprises Development Act 2006" could not be identified, as the necessary evidence is not in the possession of the Company.

9. The name of the Small Scale Undertakings to whom the Company owe a sum exceeding Rs. 0.10 millions which is outstanding for more than 30 days could not be identified, as the necessary information is not in the possession of the Company.

10. Figures of the previous year have been regrouped, reclassified and/or rearranged wherever considered necessary to correspond with the figures of current year.

 
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