Home  »  Company  »  Rishabhdev Techn  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Rishabhdev Technocable Ltd.

Mar 31, 2014

Corporate Information

A. Brief Business Activity

Rishabhdev Technocable Ltd is Engaged in Manufacturing & Trading of All Types of cables, Industrial & House Hold Wires & protection Materials, as per customers & Indian Standard Specification & automation drive systems, Any Type of Cables as per Customers Specification As per national and International Standard.

B. Place of Business

Regd. Office No. 53, 1st Floor, Jagat Satguru Industrial Estate, Vishveshwar Nagar Road, Goregaon (E), Mumbai - 400069

Plant Survey No. 60/P, 60/1/P, 2/P, 4/P & 68 Village Karajgam Silvassa - UT-396230

1. Balances of Debtors, Loans and Advances, Secured & Unsecured Loans, Sundry Creditors & Others are subject to confirmation and reconciliation and consequential adjustments, if any.

2. In the opinion of the Board & to the best of their knowledge & belief the value of realisation of current assets, loans & advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet & the provisions for all the loans & determined liabilities is adequate and not in excess of the amount.

3. On behalf of the company the Company''s bankers have not given guarantees to third parties (Previous year & Current year Nil).

4. No provision has been made for liability in respect of excise duty on stock held in the factory for Rs. 577,30,963/- (Previous year Rs. 813,81,367/-) as the same will be made on clearance at the time such duty is payable.

5. Provision for retirement benefits to employees was not provided on accrual basis, which is not in conformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the amount involved is negligible and has no material impact on the Profit & Loss Account.

6. According to a technical assessment carried out by the Company, there is no impairment in the carrying cost of cash generating units of the Company in terms of accounting standards-28 issued by the Institute of Chartered Accountants of India.

7. The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the yearend together with interest paid/payable as required under the said Act have not been made.

2013-2014 2012-2013 8. Other money for which the Company is contingently liable in respect of bill discounting with bank. NIL NIL

9. Accounts payable to Small Scale Industrial Undertaking under the head of Sundry Creditors - NIL (Previous Year - NIL)

10. Liability of F.Y. 2009-2010 & 2010-2011 has not been shown in balance sheet because it is contingent liability, due to this profit is overstated.

11. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification/disclosure.


Mar 31, 2013

A. Brief Business Activity

Rishabhdev Technocable Ltd is Engaged in Manufacturing & Trading of All Types of cables, Wires, Electrical Products, Industrial & House Hold Wires & Materials, Copper Metals PVC Compound For Electrical Cables Application, as per customers & Indian Standard Specification & as per requirements, The Largest Manufacturers of Special Process Control Instrumentation Cables, Thermocouple Extension & Compensating Cables, Profibus Cables DH 2 Cables, Hi - Speed Industrial Automation Cables & Drive Systems, Any Type of Special Cables as per Customers Specification As per International Standard, Shielded & Screened Cables as per BS- IEC/IEEE/VDE /BIS/ANSI Standard Specification.

1. Balances of Debtors, Loans and Advances, Secured & Unsecured Loans, Sundry Creditors & Others are subject to confirmation and reconciliation and consequential adjustments, if any.

2. In the opinion of the Board & to the best of their knowledge & belief the value of realisation of current assets, loans & advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet & the provisions for all the loans & determined liabilities is adequate and not in excess of the amount.

3. On behalf of the company the Company''s bankers have not given guarantees to third parties (Previous year & Current year Nil).

4. No provision has been made for liability in respect of excise duty on stock held in the factory for Rs.8,13,81,367/- (Previous year t 1,11,88,706/-) as the same will be made on clearance at the time such duty is payable.

5. Provision for retirement benefits to employees was not provided on accrual basis, which is not in conformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the amount involved is negligible and has no material impact on the Profit & Loss Account.

6. According to a technical assessment carried out by the Company, there is no impairment in the carrying cost of cash generating units of the Company in terms of accounting standards-28 issued by the Institute of Chartered Accountants of India.

7. The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the yearend together with interest paid/payable as required under the said Act have not been made.

8. Accounts payable to Small Scale Industrial Undertaking under the head of Sundry Creditors NIL (Previous Year-NIL)

9. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification/disclosure.


Mar 31, 2012

Note: Related parties have been identified by the Management.

Details of related party transactions during the year ended 31 March, 2012 and balances outstanding as at 31 March, 2012:

1. Continuing operations

Net profit / (loss) for the year from continuing operations 1,64,14,606.29 -40,22,074.00

Less: Preference dividend and tax thereon 0 0

Net profit / (loss) for the year from continuing operations attributable to the equity 1,64,14,606.29 - 40,22,074.00 shareholders

Weighted average number of equity shares 26689868 26689868

Par value per share 10 10

Earnings per share from continuing operations - Basic 0.62 -0.15

2. Balances of Debtors, Loans and Advances, Secured & Unsecured Loans, Sundry Creditors & Others are subject to confir- mation and reconciliation and consequential adjustments, if any.

3. In the opinion of the Board & to the best of their knowledge & belief the value of realisation of current assets, loans & advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet & the provisions for all the loans & determined liabilities is adequate and not in excess of the amount.

4. On behalf of the company the Company's bankers have not given guarantees to third parties (Previous year & Current year Nil).

5. No provision has been made for liability in respect of excise duty on stock held in the factory for Rs.1,11,88,706/- (Previ- ous year Rs. 66,18,900/-) as the same will be made on clearance at the time such duty is payable.

6. Provision for retirement benefits to employees was not provided on accrual basis, which is not in conformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the amount involved is negligible and has no material impact on the Profit & Loss Account.

7. According to a technical assessment carried out by the Company, there is no impairment in the carrying cost of cash generating units of the Company in terms of accounting standards-28 issued by the Institute of Chartered Accountants of India.

8. The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the yearend together with interest paid/payable as required under the said Act have not been made.

9. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped/reclassified wherever necessary to correspond with the current year's classification/disclosure.


Mar 31, 2010

1 In the opinion of the Board the Current assets and loans and advances are approximately of the value stated, if realised in the ordinary course of the business.

The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

2 No provision is made for gratuity as the provision of payment of Gratuity Act, 1972 is not applicable during the year.

3 On behalf of the company the Companys bankers havenot given guarantees to third parties (Previous year & Current year Nil.

4 There was no employees who were in receipts of remunaration of Rs. 1200000/- or above per annum ( employed throughout the year) or Rs. 100000/- per month (employed for part of the year )

5 No provision has been made for liability in respect of excise duty on stock held in the factory for Rs42277430 (Previous year Rs.7931924/-) as the same will be made on clearance at the time such duty is payable.

6 The Company has issue Total 6000000 Global Depository Receipt underlying 120000000 Equity Shares in two part in the ratio of 1 GDR : 2 Equity Shares of face value of Rs. 10/- each and Company had incurer the Foreign Exchange Loss of Rs. 90 Lacs which is being capitalised and shown under the head of Miscellaneous Expenditure as per AS-11

7 The Company has successfully Completed its FPO follow on Public Offer of equity shares of 9000768 of face value of Rs. 10/- each at a premium of Rs. 23/- per Shares and receipts from follow on Public Offer is fully utilized to fulfil the object of the issue mentioned in the Prospectus of the FPO.

 
Subscribe now to get personal finance updates in your inbox!