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Notes to Accounts of Sandu Pharmaceuticals Ltd.

Mar 31, 2015

Payments for

- taxation matters would include tax audit fees, certifications under the Income Tax Act, tax advisory services, etc.

- company law matters would include certifications (e.g. certificate for buy-back of shares, etc.), company law advisory services, etc.

- other services would include limited reviews, group reporting, other attest services and certifications under other laws, etc.

Note 1. Disclosures under Accounting Standards

Employee benefit plans

Defined contribution plans

The Company makes Provident 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.13,39,352 (Year ended 31 March, 2014 Rs.10,55,499) for Provident 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.

Defined benefit plans

The Company offers the following employee benefit schemes to its employees:

i. Gratuity: On the basis of actuarial valuation the Company has recognized Gratuity Liability of Rs 129,646/- (P.Y.) and paid Rs. 129,308/- (C.Y.)

Related party transactions Details of related parties:

Description of relationship Names of related parties

Key Management Personnel (KMP) Mr.Umesh B.Sandu - Managing Director

Relatives of KMP Mr B G. Sandu,

Companies in which KMP / Relatives of KMP can Mr Shashank Sandu exercise significant influence Akshath Finvest & Properties Pvt. Ltd.

Neelamber Leasing And Finvest Pvt. Ltd Noumura Realty & Constructions Pvt. Ltd Phybrichem Engineers Pvt. Ltd Sandu Brothers Pvt Ltd Sanbert Packaging Pvt. Ltd Sanbro Marketing Services Pvt. Ltd Sandu Research Foundation Pvt. Ltd Sanfar Communication Pvt. Ltd Sanmark Realty And Finance Pvt. Ltd


Mar 31, 2014

1 Corporate information

Sandu Pharmaceuticals is an ISO 9001:2000 Certified Company. It was established in the year 1985. The company specializes in manufacture and marketing of Ayurvedic medicines. It has acquired a unique position and reputation as a leading enterprise in the field of Ayurved.

Note 2 Disclosures under Accounting Standards

Employee benefit plans

Defined contribution plans

The Company makes Provident 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 recognised Rs.10,55,499 (Year ended 31 March, 2013 Rs.8,81,522) for Provident 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.

Defined benefit plans

The Company offers the following employee benefit schemes to its employees:

I. Gratuity: On the basis of acturial valuation the Company has recognised Gratuity Liability paid Rs. 181,108/ - (P.Y.) and Rs.129,646/- (C.Y.)

Note 3 Previous year''s figures

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


Mar 31, 2013

1 Corporate information

Sandu Pharmaceuticals is an ISO 9001:2000 Certified Company. It was established in the year 1985. The company specializes in manufacture and marketing of Ayurvedic medicines. It has acquired a unique position and reputation as a leading enterprise in the field of Ayurved.

Note 2 Previous year''s figures

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


Mar 31, 2012

1 Corporate information

Sandu Pharmaceuticals is an ISO 9001:2000 Certified Company. It was established in the year 1997. The company specializing in manufacture and marketing of Ayurvedic medicines. It has acquired a unique position and reputation as a leading enterprise in the field of Ayurved. The company manufactures quality Ayurvedic products and has acquired a unique position and reputation as a leading enterprise in the field of Ayurved. During the year it has opened several saies outlets & started seiling gooas directly to distributors & stockiest.

Employee benefit plans

Defined contribution plans

The Company makes Provident 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 recognised Rs.7,86,206 (Year ended 31 March, 2011 Rs.2,78,880) for Provident 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.

Defined benefit plans

The Company offers the following employee benefit schemes to its employees:

i. Gratuity: On the basis of acturial valuation the Company has recgnised Gratuity Liability of Rs.195,844/-

Note 2 Details of borrowing costs:

Borrowing costs are directly debited to Profit & Loss account Note 25 Disclosures under Accounting Standards

Related party transactions

Note 3 Previous year's figures

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, 2011

1. Loans & Advances include loans to companies amounting to Rs. 23,27,314/- against which the company has instituted suit for recovery and the management is confident of recovery.

2. Balance of sundry debtors, creditors, loans and advances to the companies are subject to confirmation.

3. As regards to compliance of provision relating to the dues to the Small Scale Industries in terms to the companies(Amendment) Act, 1998, the Company has not received from any parties claim to be Small Scale Industries. Hence, the said information is not given.

4. In the opinion of the Board of Directors, the current assets and loans and advances, have value on realisation in the ordinary course of business, atleast equal to the amount at which they are stated unless expressly stated otherwise.

5. The Company is in Pharmaceuticals Business and considering the organisational structure of the company and its internal financial reporting, the company has only one reporatble segment i.e. Pharmaceuticals considering the requiements of Accounting Standards on "Accounting Standard on Segment Reporting" (AS-17) issued by The Instiutute of Chartered Accountants of India. Since the company operates in only one Segment no seperate reporting is made under this standard.

6. Managerial remuneration :-

Remuneration payable as per section 198, 309 and other relevant provision pertaining to Mangerial remuneration is as follows:

1) In view of only one executive director, the amount payable is @ 5% of Net profit of the Company.

The Company has Net Profit of Rs.10,594,951/-

5% thereof works out to Rs.529,748/-

2) Under Section II (1) of part II of schedule XIII of the Companies Act, 1956, in view of inadequate profits, maximum remuneration payable works out to Rs. 125,000/- p.m. or Rs. 15,00,000/- pa.

3) The Company has paid Rs.12,49,320/- as Salary and Director Fees Rs.5,000/- to the Managing Director which is within the limits mentioned above.

4) Directors sitting fees to other Directors Rs. 15,000/-

7. Related Parties :-

a Name of related parties and description of relationship

(i) related parties where there is significant influences: -

Sandu Brothers Pvt.Ltd., Ascent Management Services, Noumura Realty & Constructions Pvt. Ltd.,

(ii) Key management personnel:-

Mr. Umesh B. Sandu - Managing Director

8. Contingent Liabilities :-

There are no contingent liability as on Balance Sheet date in the opinion of the Management.

Estimated amount of contracts remaining to be executed on Capital Account and not provided for Net of advances Rs. NIL

(Previous year Rs. NIL)

9. Previous years figures are regrouped and re-arranged wherever necessary to confrom to this years classification.


Mar 31, 2010

1. Expenses on issue of equity shares amounting to Rs.33,30,133/-have been amortised over a period of ten years, and accordingly the balance one tenth of the same i.e. Rs.3,30,132/- have been charged to profit and loss account during the year and classified under the head Miscellaneous Expenses.

2. Balance of sundry debtors,creditors,loans and advances to the companies are subject to confirmation.

3. As regards to compliance of provision relating to the dues to the Small Scale Industries in terms to the companies(Amendment) Act, 1998, the Company has not received from any parties claim to be Small Scale Industries. Hence, the said information not given.

4. In the opinion of the Board of Directors, the current assets and loans and advances, have value on realisation in the ordinary course of business, atleast equal to the amount at which they are stated unless expressly stated otherwise.

5. The Company is in Pharmaceuticals Business and considering the organisational structure of the company and its internal financial reporting, the company has only one reporatble segment i.e. Pharmaceuticals considering the requiements of Accounting Standardson "Accounting Standard on Segment Reporting"(AS-17) issued by The Instiutute of Chartered Accountants of India. Accordingly the financial details as required under the standard are reflected in respect of the said segment in Profit and Loss Account and Balance Sheet.

6. Managerial remuneration :-

1) Profit and Loss Account includes remuneration paid to Shri Umesh B. Sandu, Managing Director and Company Secretary of the Company and the detail of the same are as follows:

Remuneration: Rs 11,86,080/-P.A., Directors sitting fees: Rs. 10,0007- And the same are in accordance with Schedule XIII of the companies Act, 1956.

2) Directors sitting fees to other Directors: Rs. 25,000/-

7. Related Parties :-

a Name of related parties and description of relationship (i) related parties where control exists:-

Sandu Brothers Pvt.Ltd. Ascent Management Services

(ii) Key management personnel:-

Mr. Umesh B. Sandu - Managing Director

8. Contingent Liabilities :-

Apart from gratuity there are no other contingent liability as on Balance Sheet date.

Estimated amount of contracts remaining to be executed on Capital Account and not provided for Net of advances Rs. NIL

(Previous year Rs. NIL)

9. Previous years figures are regrouped and re-arranged wherever necessary to confrom to this years classification.

 
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