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Notes to Accounts of Shaily Engineering Plastics Ltd.

Mar 31, 2016

b. Terms & Rights attached to equity shares;

The Company has only one class of equity shares having face value of '' 10 each. Each holder of Equity share is entitled to one vote per share.

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

Note: Figures in brackets relate to the previous year.

1. Details on derivatives instruments and unheeded foreign currency exposures

I. The Company has taken Interest Rate Swaps to hedge against fluctuation in interest rate changes. No. of contracts 2. ( As at 31st March, 2015 - 2).

b) Currency swaps (other than forward exchange contracts state above) to hedge against fluctuations in changes in exchange rate. No. of Contracts : Nil

NOTE 2. DISCLOSURES UNDER ACCOUNTING STANDARDS Note Particulars

3. Employee benefit plans

4. a Defined contribution plans

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 '' 8,658,872/- (Year ended 31 March, 2015 '' 7,350,914/-) for Provident Fund contributions and '' 2,470,055/- (Year ended 31 March, 2015 '' 2,055,151/-) 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.

5. b Defined benefit plans

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

The following table sets out the funded status of the gratuity and leave encashment and the amount recognized in the financial statements:

6 Discount rate is determined by reference to market yields at the Balance Sheet date on Govt. Bonds, where the currency and terms of the Govt. Bonds are consistent with the currency and estimated terms for the benefit obligation.

7 The estimate of future salary increases take into account inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market.

8 100% of Plan Assets are invested in group gratuity scheme offered by HDFC Standard Life Insurance Company Limited.

Note Particulars

9. Segment Reporting:

Business Segment: The Company is engaged in the business of manufacturing of injection molded plastics components, moulds etc., which as per the Accounting Standard (AS 17) ''Segment Reporting'' is considered as the only reportable segment

10. Related party transactions

11. a Details of related parties:

Description of relationship Names of related parties Key Management Personnel

Executive Chairman Mr. Mahendra B. Sanghvi

Managing Director Mr. Amit M. Sanghvi

Executive Director Mr. Laxman B. Sanghvi

Whole Time Director Mrs. Tilottama M. Sanghvi

Chief Financial Officer Mr. Sanjay Shah Other Related Parties

Entities in which KMP / relatives of KMP have significant influence Panax Appliances Pvt. Ltd.

Entities in which KMP / relatives of KMP have significant influence Shaily-IDC India Pvt. Ltd.

Entities in which KMP / relatives of KMP have significant influence Shaily Medical Plastics Pvt.Ltd.

Relative of key management personnel Mrs.Kinjal S Bhavsar

Relative of key management personnel Mrs. Kalpana L Sanghvi

Relative of key management personnel Ms Purnima Shah

Relative of key management personnel Mr Bharat Sanghvi

Relative of key management personnel Mrs. Rashmi Sanghvi

Firm owned by relative of key management personnel Jariwala Shah Kanji Raichand & Co

Note: Related parties have been identified by the Management.

12. The Company had issued equity shares amounting to '' 2510.00 Lacs for purposes of General Corporate Needs. As at 31 March, 2016, no amount is pending to be utilized (Amount unutilized as at 31 March, 2015 '' 2510.00 Lacs). The same has been used for general corporate needs in the FY 2015-16.

13. The previous year figures have been regrouped / re-classified to conform to the current year''s classification.


Mar 31, 2014

Note 1 : Corporate information

Shaily Engineering Plastics Limited (the Company) is a Public Limited Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the manufacture and sale of injection moulded precision plastic components and sub-assemblies. The Company''s manufacturing facilities are at Savli and Halol, Baroda, Gujarat, India.

Note 2 : Additional information to the financial statements

Particulars As at 31 As at 31 March, 2014 March, 2013

28.1 Contingent liabilities and commitments (to the extent not provided for)

(i) Contingent liabilities

(a) Guarantees 1,000,000 1,325,000

(b) Pending export obligation against advance licenses Nil Nil

(obligation to be completed by March 2014)

(ii) Commitments

Estimated amount of contracts remaining to be executed on capital account and not provided for

-Tangible assets 110,364,740 35,110,101

2.1 Disclosure as per Clause 32 of the Listing Agreements with the Stock Exchanges

Loans and advances in the nature of loans given to subsidiaries, associates and others and investment in shares of the Company by such parties:

2.2 Details on derivatives instruments and unhedged foreign currency exposures

I. The following derivative positions are open as at 31 March, 2014. These transactions have been undertaken to act as economic hedges for the Company''s exposures to various risks in foreign exchange markets and be designated as hedging instruments.

(a) Forward exchange contracts and options [being derivative instruments], which are not intended for trading or speculative purposes but for hedge purposes to establish the amount of reporting currency required or available at the settlement date of certificate.

Outstanding option contracts entered into by the Company as on 31 March, 2014

2.3 Employee benefit plans_

2.3a Defined contribution plans

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 recognised Rs 6,700,571/- (Year ended 31 March, 2013 Rs. 5,617,431/-) for Provident Fund contributions and Rs. 1,770,585/- (Year ended 31 March, 2013 Rs. 1,415,664/-) 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.

2.4b Defined benefit plans

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

i. Gratuity

ii. Post-employment medical benefits

iii. Other defined benefit plans (specify nature)

The following table sets out the funded status of the defined benefit schemes and the amount recognised in the financial statements:

1 Discount rate is determined by reference to market yields at the Balance Sheet date on Govt. Bonds, where the currency and terms of the Govt. Bonds are consistent with the currency and estimated terms for the benefit obligation.

2 The estimate of future salary increases take into account inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market.

3 100% of Plan Assets are invested in group gratuity scheme offered by HDFC Standard Life Insurance

2.5 Segment Reporting:

Business Segment: The Company is engaged in the business of manufacturing of injection molded plastics components, moulds etc, which as per the Accounting Standard (AS 17) ''Segment Reporting'' is considered the only reportable segment.

3 The previous year figures have been regrouped / re-classified to conform to the current year''s classification


Mar 31, 2013

Note 1 : Corporate information

Shaily Engineering Plastics Limited (the Company) is a Public Limited Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the manufacture and sale of injection moulded precision plastic components and sub-assemblies. The Company''s manufacturing facilities are at Savli and Halol, Baroda, Gujarat, India.

2.1 Details on derivatives instruments and unhedged foreign currency exposures

I. The following derivative positions are open as at 31 March, 2013. These transactions have been undertaken to act as economic hedges for the Company''s exposures to various risks in foreign exchange markets and be designated as hedging instruments.

(a) Forward exchange contracts and options [being derivative instruments], which are not intended for trading or speculative purposes but for hedge purposes to establish the amount of reporting currency required or available at the settlement date of certificate.

(ii) Outstanding option contracts entered into by the Company as on 31 March, 2013

3.1 Employee benefit plans 29.1a Defined contribution plans

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 recognised Rs. 5,617,431 /- (Year ended 31 March, 2012 Rs. 4,997,378/-) for Provident Fund contributions and Rs. 1,415,664 /- (Year ended 31 March, 2012 Rs. 1,263,879/-) 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.

3.1b Defined benefit plans

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

i. Gratuity

ii. Post-employment medical benefits

iii. Other defined benefit plans (specify nature)

The following table sets out the funded status of the defined benefit schemes and the amount recognised in the financial statements:

1 Discount rate is determined by reference to market yields at the Balance Sheet date on Govt. Bonds, where the currency and terms of the Govt. Bonds are consistent with the currency and estimated terms for the benefit obligation.

2 The estimate of future salary increases take into account inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market.

3 100% of Plan Assets are invested in group gratuity scheme offered by HDFC Standard Life Insurance Company Limited.

3.2 Segment Reporting:

Business Segment: The Company is engaged in the business of manufacturing of injection molded plastics components, moulds etc, which as per the Accounting Standard (AS 17) ‘Segment Reporting'' is considered the only reportable segment.

3.3 Related party transactions

4 The previous year figures have been accordingly regrouped /re-classified to conform to the current year''s classification.


Mar 31, 2012

1 Corporate information

Shaily Engineering Plastics Limited (the Company) is a Public Limited Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the manufacture and sale of injection moulded precision plastic components and sub-assemblies. The Company's manufacturing facilities are at Savli and Halol, Baroda, Gujarat, India.

a. Terms & Rights attached to equity shares;

The Company has only one class of equity shares having face value of ' 10 each. Each holder of Equity share is entitled to one vote per share.

In the event of Liquidation of the company, the holders of the equity shares will be entitled to receive remaining assets of the company, after distribution of Preferential amount. The distribution will be in proportion to the Number of equity shares held by Shareholders.

Note: Dues to Micro and Small Enterprises have been determined to the extent such parties have been identified on the basis of information collected by the management. This has been relied upon by the auditors.

Note Particulars

As at 31 March, 2012 As at 31 March, 2011

2.1 Contingent liabilities and commi tments (to the extent not provided for)

(i) Contingent liabilities

(a) Guarantees 14,725,000 13,300,000

(b) Pending export obligation against advance licenses (obligation to be completed by March 2,078,056 15,127,125 2013)

(ii) Commitments

(a) Estimated amount of contracts remaining to be executed on capital account and not provided for

Tangible assets 33,105,000 26,000

2.2 Details on derivatives instruments and unheeded foreign currency exposures

I. The following derivative positions are open as at 31 March, 2012. These transactions have been undertaken to act as economic hedges for the Company's exposures to various risks in foreign exchange markets and be designated as hedging instruments.

(a) Forward exchange contracts and options [being derivative instruments], which are not intended for trading or speculative purposes but for hedge purposes to establish the amount of reporting currency required or available at the settlement date of certain payables and receivables.

3.1 Employee benefit plans_

3.1 a Defined contribution plans

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? 4,997,378/- (Year ended 31 March, 2011 ' 4,759,285/-) for Provident Fund contributions and ' 1,263,879/- (Year ended 31 March, 2011 ' 587,134/-) 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.

3.1 b Defined benefit plans

The Company offers the following employee benefit schemes to its employees

i. Gratuity

ii. Post-employment medical benefits

iii. Other defined benefit plans (specify nature)

The following table sets out the funded status of the defined benefit schemes and the amount recognised in the financial statements:

3.2 Segment Reporting:

Business Segment: The Company is engaged in the business of manufacturing of injection molded plastics components, moulds 2etc, which as per the Accounting Standard (AS 17) 'Segment Reporting' is considered the only reportable segment.

4 The Company prepares and presents its financial statements as per Schedule VI to the Companies Act, 1956, as applicable to it from time to time. In view of revision to the Schedule VI as per a notification issued during the year by the Central Government, the financial statements for the financial year ended 31st March, 2012 have been prepared as per the requirements of the Revised Schedule VI to the Companies Act, 1956. The previous year figures have been accordingly regrouped / re-classified to conform to the current year's classification.


Mar 31, 2011

1. Contingent Liabilities:

- Outstanding amount of Bank Guarantees Rs.1,33,00,000(Previous year Rs. 43,50,000)

- The Capital commitment (Net of Advances) in respect of order placed for new fixed assets is Rs.12,94.590 (Previous year Rs.26,246)

- The Company has obtained advance licenses for the import of raw materials, the export obligation pending are Rs.1,51,27,125(Previous year Rs. 10,04,163). The Obligation is to be Completed by March 2013.

- Arrears of dividend on Participatory Cumulative Convertible Preference Shares- Rs.8,810,888 (Previous year Rs. 8,810,888)

2. Retirement Benefits:

Defined Contribution Plans

The company has recognised, in the profit and loss account for the year ended 31st March, 2011, following amounts as expenses under defined contribution plan under the head Contribution to Provident Fund & Other Funds in schedule 17 - Remuneration and Benefits to Employees.

Notes

1 Discount rate is determined by reference to market yields at the Balance Sheet date on Govt. Bonds, where the currency and terms of the Govt. Bonds are consistent with the currency and estimated terms for the benefit obligation.

2 The estimate of future salary increases take into account inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market.

3 100% of Plan Assets are invested in group gratuity scheme offered by HDFC Standard Life Insurance Company Limited.

3. Segment Reporting:

Business Segment: The Company is engaged in the business of manufacturing of injection molded plastics components, moulds 2etc, which as per the Accounting Standard (AS 17) Segment Reporting is considered the only reportable segment.

4. Related Party Disclosure:

Related party Disclosures as required by AS-18," Related Party Disclosures", are given below:

a. Key Management Personnel

Mr. Mahendra B. Sanghvi Managing Director

Mr. Laxman B. Sanghvi Executive Director

Mrs.Tilottama M Sanghvi Whole-time Director

b. Relatives of key management personnel and Enterprises over which key management personnel and their relatives are able to exercise significant influence are as follows:

Panax Appliances Pvt. Ltd. Significant influence

Shaily-!DC India Pvt. Ltd. Significant influence

Sunido Textiles Pvt. Ltd. Significant influence

Stallion Textiles Pvt. Ltd. Significant influence

IQMS ERP (India) Pvt Ltd Significant influence

Innovative Polyplast Pvt. Ltd. Company in which relative of key management personnel is Director

Mr. Jayesh Shah Relative of key management personnel

Ms. Purnima Shah Relative of key management personnel

Mrs. Sushila M Shah Relative of key management personnel

Mr. Navin M Shah Relative of key management personnel

Mr. Deep Sanghvi Relative of key management personnel

Ms. Priyanka L Sanghvi Relative of key management personnel Mr. Rajen Sanghvi Relative of key management personnel

Mr. Bharat Sanghvi Relative of key management personnel

Mrs. Kalpana L Sanghvi Relative of key management personnel

Mrs. Rashmi B Sanghvi Relative of key management personnel

Shah Kanji Raichand & Co. Firm owned by relative of key management

M M Shah - HUF Relative of key management personnel

Mrs. Shaily Sanghvi Relative of key management personnel

Mr. Amit Sanghvi Relative of key management personnel

Mr. Bhogilal V Sanghvi Relative of key management personnel

Mrs. Gunvantiben Sanghvi Relative of key management personnel

The Company has identified all the related parties having transactions during the year as per details given below. During the year, there were no amounts written off or written back from such parties.

5. Sundry creditors include Rs.6.94lacs (Previous Rs.9.16 lacs) outstanding to Micro and Small Enterprises(on the basis of information available with the Company) Interest if any payable on delayed payment to Micro and Small Enterprises under Micro, and Small and medium enterprises development Act.,2006 is not ascertainable.

6. Figures for the previous year have been regrouped, wherever considered necessary to make them comparable with those of the current year.

7. Balances to the Debit and Credit of Customers, Suppliers and other parties are subject to confirmation.

8. Additional information pursuant to the provisions of 3, 4C and 4D of part II of Schedule VI of the Companies Act, 1956: 1.Licensed & Installed Capacity, Production, stocks and Turnover:

a. Licensed Capacity N.A.

b. Installed Capacity Can not be specified since it varies depending upon the specification of components to be moulded out of plastics granules.


Mar 31, 2010

1. Contingent Liabilities:

- Outstanding amount of Bank Guarantees Rs.4,350,000 (Previous year Rs. 6,802,428)

- The Capital commitment (Net of Advances) in respect of order placed for new fixed assets is Rs. 26246 (Previous year Rs.1,961,325)

- The Company has filed an appeal against the Sales Tax Department for various disallowances under the Sales Tax Act. The Company is advised that it has fair chances of success in appeal. Same appeal order received in favour of the Company, (Previous year Rs. 12.62 lacs)

- The Company has obtained advance licenses for the import of raw materials, the export obligation pending are Rs.10,04,163 (Previous year Rs.50,24,818)

- Arrears of dividend on Participatory Cummulative Convertible Preference Shares- Rs.8,810,888 (Previous year Rs. 8,810,888)

2. Retirement Benefits:

Defined Contribution Plans

The company has recognised, in the profit and loss account for the year ended 31st March, 2010, following amounts as expenses under defined contribution plan under the head Contribution to Provident Fund & Other Funds in schedule 17 - Remuneration and Benefits to Employees.

Notes

Discount rate is determined by reference to market yields at the Balance Sheet date on Govt. Bonds, where the currency and 1

terms of the Govt. Bonds are consistent with the currency and estimated terms for the benefit obligation.

The estimate of future salary increases take into account inflation, seniority, promotion and other relevant factors such as 2 supply and demand in the employment market. 3 100% of Plan Assets are invested in group gratuity scheme offered by HDFC Standard Life Insurance Company Limited.

3. Segment Reporting:

Business Segment: The Company is engaged in the business of manufacturing of injection moulded plastics components, moulds etc, which as per the Accounting Standard (AS 17) ‘Segment Reporting is considered the only reportable segment.

4. Sundry creditors include Rs.9.16 lacs outstanding to Micro and Small Enterprises(on the basis of information available with the Company) Interest if any payable on delayed payment to Micro and Small Enterprises under Micro, and Small and medium enterprises development Act.,2006 is not ascertainable.

5. Figures for the previous year have been regrouped, wherever considered necessary to make them comparable with those of the current year.