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

Notes to Accounts of Rubfila International Ltd.

Mar 31, 2014

Corporate Information

Rubfila International Limited (RIL) is a Public Limited Company promoted by Rubpro Sdn. Bhd., Malaysia and Kerala State Industrial Development Corporation, with its plant located at New Industrial Development Area, Kanjikode, Palakkad, Kerala. Kerala is the heartland of natural rubber in India. The production facility of RIL is designed to produce both Talc Coated Rubber Thread (TCR) as well as Silicon Coated Rubber Thread (SCR). RIL is the market leader in India in the business of rubber threads and is also a leading exporter of the product from India. RIL produces rubber threads for various applications like apparel, food grade, furniture webbing, bungee jumping, toys, medical netting, diapers, catheter manufacturing etc.

Terms / rights attached to equity shares.

i) The company has only one class of equity shares having par value of Rs. 5 per share. Each holder of equity share is entitled to vote per share. The company declares and pays dividend in Indian Rupees for shareholders in India and in US Dollars for shareholders outside India

ii) The dividend proposed is as recommended by the Board of Directors and subject to the approval of the shareholders in the ensuing Annual General Meeting

iii) For the year ended 31st March, 2014, the amount of dividend per share recognised as distributions to equity shareholders is Re 0.60 (31st March, 2013 - Re. 0.60)

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

NOTE 1. CONTINGENT LIABILITIES & COMMITMENTS (to the extent not provided for)

As at 31st As at 31st March, 2014 March, 2013 Particulars in Rs. Lakhs in Rs. Lakhs

(a) Claim against the Company not acknowledged as debt:

* Duty Draw Back - -

* Sales Tax Liability (see note below) 959.70 968.51

(b) Guarantees

* Bank Guarantee with PNB 9.44 11.70

Total 969.14 980.21

NOTE 2. EMPLOYEE BENEFITS PLAN

The Company makes Provident Fund and Super Annuation Fund contributions to defined Contribution plans for qualifying employees. Under the Schemes, the company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognized Rs. 29.47 (Year ended 31 March, 2013 Rs. 29.32) for Provident Fund contributions and Rs. 2.28 (Year ended 31 March, 2013 Rs. 2.08) for Super Annuation Fund Contributions in the Statement of Profit and Loss. The Contribuitions payable to these plans by the company are at rates specified in the rules of the schemes.


Mar 31, 2013

Corporate Information

Rubfila International Limited (RIL) a Public Limited Company promoted by RubproSdn. Bhd., Malaysia and Kerala State Industrial Development Corporation, with its plant located at Ne wind us trial Development Area, Kanjikode, Palakkad, Kerala. Kerala is the heartland of natural rubber in India. The production facility of RIL is designed to produce both Talc Coated Rubber Thread (TCR) as well as Silicon Coated Rubber Thread (SCR). RIL is the market leader in India in the business of rubber threads and is also a leading exporter of the product from India. RIL produces rubber threads for various applications like apparel, food grade, furniture webbing, bungee Jumping, toys, medical netting, diapers, catheter manufacturing etc.

NOTE 1. CONTINGENT LIABILITIES & COMMITMENTS

(to the extent not provided for)

As at 31st March, 2013 As at 31st March, 2012 Particulars in Lakhs in Lakhs

(a) Claim against the Company not acknowledged as debt!

"Duty Draw Back - 391.73

- Sales Tax Liability (see note below 968.50 986.13

(b) Guarantees

- Bank Guarantee with PNB 11.70 8.10

Total 980.20 994.23

NOTE 2. EMPLOYEE BENEFITS PLAN

The Company makes Provident Fund and Super Annotation Fund contri- butions to defined Contribution plans for qualifying employees. Under the Schemes, the company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognized Rs. 29.32 (Year ended 31 March, 2012Rs. 19.45) for Provident Fund contributions and 2.08 (Year ended 31 March, 2012Rs. 1.70) for Super Annotation Fund Contributions in the Statement of Profit and Loss. The Contributions payable to these plans by the company are at rates specified in the rules of the schemes.

NOTE 3. SEGMENT REPORTING

The Company has identified business segments as its primary segment and geographic segments as its secondary segment. The Company has only one primary segment namely Manufacture and sale of Heat Resistant Latex Rubber Thread. Hence segment reporting for primary segment is not applicable. Secondary Segment is on the basis of Geographical revenues, allocated based on the location of the customer. Geographic segments of the company are disclosed as follows. Revenue outside India, i.e., Sales in Export Market and Revenue within India, i.e., Sales'' in Domestic Market.

The Diluted EPS is computed by dividing the Met profit after Tax a available for Equity share holders by the weighted average number of Equity shares, after giving dilutive effect of the outstanding Warrants, Stock Options and convertible Bonds for the respective period Since the company doesn''t have any Warrants, Stock Options and Co invertible Bonds, Dilutive EPS will be the same as Basic EPS and hence Dilutive EPS is not computed .

NOTE 4. PRIOR PERIOD COMPARATIVES

Previous year''s figures have been reworked, regrouped, rearranged and reclassified, wherever necessary, to correspond with the current year s classification / disclosure


Mar 31, 2012

Corporate information

Rubfila International Limited (RIL) is a Public Limited Company promoted by Rubpro Sdn. Bhd., Malaysia and Kerala State Industrial Development Corporation. The State of the Art infrastructure facility of is located at New Industrial Development Area, Kanji ode, Palatka, Kerala. Kerala is the heartland of natural rubber in India. The production facility of RIL is designed to produce both Talc Coated Rubber Thread (TCR) as well as Silicon Coated Rubber Thread (SCR). RIL produces rubber threads for various applications like apparel, food grade, furniture webbing, bungee jumping, toys, medical netting, diapers, catheter manufacturing etc.

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

The Diluted EPS is computed by dividing the Net Profit after Tax available for Equity Shareholders by the weighted average number of equity shares, after giving dilutive effect of the outstanding Warrants, Stock Options and Convertible bonds for the respective period. Since the Company doesn't have any Warrants, Stock Options or Convertible Bonds, Dilutive EPS will be the same as Basic EPS and hence Dilute EPS is not computed.

NOTE 2. CONTINGENT LIABILITIES & COMMITMENTS (to the extent not provided for)

As at 31 March As at 31 March Particulars 2012 2011 in lakhs in lakhs

(a) Claims against the Company not acknowledged as debt:

- Duty Draw back 391.73 -

- Sales Tax Liability (see note below) 986.13 986.13

(b) Guarantees:

- Bank Guarantee with PNB 8.10 -

- Bank Guarantee with CSB - 8.29

The Company has provided 129.38 Lakhs against the demand of 1115.51 Lakhs in the year 2010-2011. In the opinion of the management, the provision made above is considered appropriate for the disputed amounts mentioned above on the ground that there are reasonable chances of successful outcome of appeals filed by the company.

NOTE 3. EMPLOYEE BENEFITS PLAN

The Company makes Provident Fund and Superannuation Fund contributions to defined contribution plans for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognized. Rs. 19.45 (Year ended 31 March, 2011 Rs. 18.66) for Provident Fund contributions and Rs. 1.70 (Year ended 31 March, 2011 Rs. 1.75) for Superannuation Fund contributions in the Statement of Profit and Loss. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes.

NOTE 4. SEGMENT REPORTING

The Company has identified business segments as its primary segment and geographic segments as its secondary segment. The Company has only one primary segment namely Manufacture and sale of Heat Resistant Latex Rubber Thread. Hence segment reporting for primary segment is not applicable. Secondary Segment is on the basis of Geographical revenues, allocated based on the location of the customer. Geographic segments of the Company are disclosed as follows: Revenue outside India, i.e., Sales in Export Market to Countries in Asia, Africa and Europe, and Revenue within India, i.e., Sales in Domestic Market.

NOTE 5. RELATED PARTY DISCLOSURE Details of related parties: Promoters / Associates :

M/s Entelechy Holdings Corporation

Ms. Annie Guat Chew

Mr. Barry Yates

Mr. Christopher Chong

Ms. Bharati Bharat Dattani

Mr. Bharat Jamnadas Dattani

Bharat Jamnadas HUF

Ms. Minal Bharat Patel

Mr. Dhiren S Shah

M/s Rubpro Sdn Bhd.

Key Management Personnel

Mr. G. Krishnakumar (Managing Director)

NOTE 6.PRIOR YEAR COMPARATIVES

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


Mar 31, 2010

1. Contingent Liabilities not provided for in respect of disputed demands for taxes, duties and other claims not acknowledged as debts :

a) Bank Guarantee of Rs. 7.92 Lacs during the year (previousyear Rs.7.92 Lacs)

2. The Estimated value of Contracts in progress and not provided for is nil.

3. Amount outstanding for more than 30 days to Small scale Industrial undertaking is Nil.

4. KVAT refund due from Govt. Of Kerala is Rs. 148.73 and the details areas follows:

5. The company has initiated the process of obtaining confirmations from the "suppliers" who have registered under Micro Small Medium Enterprise Development Act, 2006 (MSMED ACT) which came into effect from October2006 and so far it has not received the information from suppliers regarding their status under MSMED Act as on 31 st March2009. Hence disclosure relating to the amounts outstanding to them have not been made

6. Income Tax Assessment has been completed upto the accounting year ended 31st March, 2006.

7. Disclosure in respect of Accounting Standard 15 "Employee Benefits" notified in the Companies (Accounting Standards) Rule 2007:

8. Segment Information.

1. Primary Business Segment: There is only one segment namely Manufacture and Sale of Rubber Threads.

Notes:

The segment revenue in the Geographical segments considered for disclosure are as follows:

a) Revenue within India includes sales to customers located within India.

b) Revenue outside India includes sales to customers located outside India.

8. Additional Information pursuant to Part II of Schedule VI of the Companies Act, 1956

10. Value of Raw Materials, Stores and Spares Consumed during the Year

11. a) Capacity and Production

12. Related Party Disclosure (As identified by the Management)

1) a) Name of the transacting related party Mr.G. Krishna Kumar

b) Description of relationship Managing Director

c) Nature of Transaction Remuneration

d) Volume of transaction Rs. 11.44 Lacs

e) Outstanding at the Balance sheet date Nil

2) Unsecured Loan .

2.1) From M/s. PAT Financial Consultants (P) Ltd., Mumbai.

a) Amount involved - Rs. 1810 lacs

b) Nature of Transaction - Interest free unsecured loan

c) Purpose - Take over and Settlement of Bank Dues

13. The Company is in the process of releasing the Charges filed with Registrar of Companies, Kerala on its properties in favour of Banks.

 
Subscribe now to get personal finance updates in your inbox!