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Notes to Accounts of Shree Bhavya Fabrics Ltd.

Mar 31, 2015

1 Share Capital

b. Terms/rights attached to equity shares

The company has only one class of equity shares having par value of Rs. 10/- (Previous year Rs. 10/-) per share. Each holder of equity shares is entitled to one vote per share.

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

2 Figures have been rounded off to nearest rupee.

2014-2015 2013-2014 in Rs. in Rs.

3 Contingent liabilities & Commitments 9441193/- 9441193/-

4 Provision for income-tax is based on the taxable profits of the company in accordance with the Income - tax Act, 1961.

5 Estimated amounts of contracts remaining to be executed on capital account and not provided for Rs. 39,73,849/ - (Previous year Rs. 2,57,07,867/-).

6 Contingent Liability on account duty saved due to import against EPCG license is Rs. 94,41,193/- (Previous Year Rs. 94,41,193/-), which has to be met by fulfilling an export obligation of Rs. 6,67,67,544/- (Previous Year Rs. 6,67,67,544/-) in eight years.

7 Amount of borrowing cost capitalized as per "Accounting Standard-16", during the year was Rs. NIL/- (Previous Year Rs. NIL)

8 There are no separate reportable segments as per Accounting Standard 17 as the entire operations of the Company relate to one segments, viz. the Textile.

9 There is no lease transaction during the year as per "Accounting Standard - 19".

10 As required by "Accounting Standard -20" the basic Earning Per Share (EPS) is Rs. 0.43 arrived at by dividing the Profit After Tax (PAT) by the total number of shares issued and subscribed as at the end of the year.

11 Break up of expenditure incurred on employe's who were in receipt of remuneration aggregating Rs. 6000000/ - or more for year or Rs. 500000/- or more, where employed for a part of the year. Nil (Previous Year Rs. Nil).

12 Pursuant to the enactment of Companies Act 2013, the Company has applied the estimated useful lives as specified in Schedule II. Accordingly the unamortised carrying value is being depreciated over the revised/remaining useful lives. The written down value of Fixed Assets whose lives have expired as at 1st April 2014 have been adjusted in the opening balance of Profit and Loss Account amounting of Rs. 755598/-

13 Disclosures in respect of related parties as defined in Accounting Standard 18, with whom transactions have taken place during the year are given below:-

a. Associate Companies Balhanuman Fabrics Pvt. Ltd

in which directors or their relatives Anunay Fab Ltd. are interested Gujarat Investa Ltd.

b. Directors and their relatives:

Purshottam Radheshyam Agarwal

Anjani R. Agarwal

Aman Purshottam Agarwal

14 Micro & Small Enterprises Dues

As per information given to us there were no amount overdue and remaining outstanding to small scale and /or ancillary Industrial suppliers on account of principal and /or interest as at the close of the year. Based on the information available with company, there are no dues outstanding to Micro and Small Enterprises as defined under Micro, Small and Medium Enterprises Development Act, 2006 for more than 45 days as at March 31, 2015.

15 Previous year's figures have been regrouped/rearranged wherever necessary so as to make them comparable with the figures of the current year.


Mar 31, 2014

1 Provision for income-tax is based on the taxable profits of the company in accordance with the Income - tax Act, 1961.

2 Estimated amounts of contracts remaining to be executed on capital account and not provided for RS. 2,57,07,867/ - (Previous year RS.19,75,000/-).

3 Contingent Liability on account duty saved due to import against EPCG license is RS. 94,41,193/- (Previous Year RS. 50,60,193/-), which has to be met by fulfilling an export obligation of RS. 6,67,57,544/- (Previous Year RS. 4,04,81,544/-) in eight years.

4 Amount of borrowing cost capitalized as per ''Accounting Standard-16'', during the year was RS. NIL/- (Previous Year RS.NIL)

5 There are no separate reportable segments as per Accounting Standard 17 as the entire operations of the Company relate to one segments, viz. the Textile.

6 There is no lease transaction during the year as per "Accounting Standard - 19''.

7 As required by ''Accounting Standard -20'' the basic Earning Per Share (EPS) is RS. 0.38 arrived at by dividing the Profit After Tax (PAT) by the total number of shares issued and subscribed as at the end of the year.

8 Break up of expenditure incurred on employess who were in receipt of remuneration aggregating RS.6000000/ - or more for year or RS. 500000/- or more, where employed for a part of the year. Nil (Previous Year Rs.Nil)

9 Disclosures in respect of related parties as defined in Accounting Standard 18, with whom transactions have taken place during the year are given below: -

a. Associate Companies Balhanuman Fabrics Pvt.Ltd in which directors or their Anunay Fab Ltd. relatives are interested Gujarat In vesta Ltd.

c. Directors and their relatives: Purshottam Radheshyam Agarwal Anjani Radheshyam Agarwal Aman Purshottam Agarwal

10 Micro & Small Enterprises Dues

As per information given to us there were no amount overdue and remaining outstanding to small scale and /or ancillary Industrial suppliers on account of principal and /or interest as at the close of the year. Based on the information available with company, there are no dues outstanding to Micro and Small Enterprises as defined under Micro, Small and Medium Enterprises Development Act, 2006 for more than 45 days as at March 31,2014.

Previous year''s figures have been regrouped/ rearranged necessary so as to make them comparable with the figures of the current year.


Mar 31, 2010

1. Quantitative Information

a) Class of Goods Manufactured i) Fabric ii) Printing & Dying Grey Cotton & MM Fabrics

e) CIF Value of Imports during the year Rs. 3,27,34,651/- (Previous Year Rs. 2,69,63,508.)

f) Expenditure in foreign currency: remittance in foreign Currency and earnings in foreign currency during the year Rs. 3,23,84,080/- (Previous Year Rs. 2,44,15,894/-)

g) Value of Export (FOB) Rs. NIL (Previous Year Rs. 30,58,938)

2. Micro & Small Enterprises Dues

As per information given to us there were no amount overdue and remaining outstanding to Small scale and/or ancillary Industrial suppliers on account of principal and/or interest as at the close of the year. Based on the information available with Company, there are no dues outstanding to Micro and Small Enterprises as defined under Micro, Small and Medium Enterprises Development Act, 2006 for more than 45 days as at March 31, 2010.

3. Figures have been rounded off to nearest rupees.

4. Balances of Sundry Creditors, Debtors, Loans & Advance and Receivables are subject to confirmation.

5. Previous years figures have been regrouped/rearranged wherever necessary so as to make them comparable with the figures of the current year.

6. Provision for income-tax is based on the taxable profits of the company in accordance with the Income - tax Act, 1961.

7. Estimated amounts of contracts remaining to be executed on capital account and not provided for Rs.16,91,631/- (Previous year Rs.42,61,843/-).

8. Contingent Liability on account duty saved due to import against EPCG license is Rs.29,73,278/ - (Previous Year Rs.72,24,340/-), which has to be met by fulfilling an export obligation of Rs. 2,38,26,224/- (Previous Year Rs. 5,77,94,739/-) in eight years.

9. Amount of borrowing cost capitalized as per "Accounting Standard-16", during the year was Rs. NIL/- (Previous Year Rs. 8,84,138/-)

10. There are no separate reportable segments as per Accounting Standard 17 as the entire operations of the Company relate to one segments, viz. the Textile.

11. There is no lease transaction during the year as per "Accounting Standard -19".

12. As required by "Accounting Standard -20" the basic Earning Per Share (EPS) is Rs.0.41 arrived at by dividing the Profit After Tax (PAT) by the total number of shares issued and subscribed as at the end of the year,

13. During the year company has paid a sum of Rs. 25 Lacs to Textile Process Association towards contribution to drainage line. The same has been shown as Plant & Machinery WIP pending completion of the project by the association.

14. Disclosures in respect of related parties as defined in Accounting Standard 18, with whom transactions have taken place during the year are given below:-

(a) Associate Bodies Corporate Balhanuman Fabrics Pvt. Ltd.

Anunay Fab Ltd.

Gujarat Investa Ltd.

(c) Directors and their relatives Radheshyam Tilokchand Agarwal

Purushottam Radheshyam Agarwal

Anjani Radheshyam

15. Schedule A to R form integral part of Balance Sheet and Profit and Loss Account and are duly authenticated.


Mar 31, 2009

1. Quantitative Information

a) Class of Goods Manufactured

i) Fabric

ii) Printing & Dying Grey Cotton & MM Fabrics

f) GIF Value of Imports during the year Rs. 2,69,63,508/- (Previous Year Rs. 4,54,89,121.)

g) Expenditure in foreign currency, remittance in foreign currency and earnings in foreign currency during the year Rs. 2,44,15,894 (Previous Year Rs. 3,86,50,187)

g) Value of Export (FOB) Rs. 30,58,938 (Previous Year Rs. Nil)

2 Micro & Smalt Enterprises Dues

As per information given to us there were no amount overdue and remaining outstanding to Small scale and/or ancillary Industrial suppliers on account of principal and/or interest as at the close of the year. Based on the information available with Company, there are no dues outstanding to Micro and Small Enterprises as defined under Micro, Small and Medium Enterprises Development Act, 2006 for more than 45 days as at March 31, 2009.

3. Figures have been rounded off to nearest rupees.

4. Balances of Sundry Creditors, Debtors, Loans & Advance and Receivables are subject to confirmation.

5. Previous years figures have been regrouped/rearranged wherever necessary so as to make them comparable with the figures of the current year.

6. Provision for income-tax is based on the taxable profits of the company in accordance with the Income - tax Act, 1961.

7. Estimated amounts of contracts remaining to be executed on capital account and not provided for Rs.42,61,843/- (Previous year Rs. 29,00,000/-),

8. Contingent Liability on account duty saved due to import against EPCG license is Rs.72,24,340/ - (Previous Year Rs.49,61,554/-), which has to be met by fulfilling an export obligation of Rs. 5,77,94,739/- (Previous Year Rs. 3,86,96,177/-) in eight years.

9. Amount of borrowing cost capitalized as per "Accounting Standard-16", during the year was Rs.8,84,138/- (Previous Year Rs. 3,89,891/-)

10. There are no separate reportable segments as per Accounting Standard 17 as the entire operations of the Company relate to one segments, viz. the Textile.

11. There is no lease transaction during the year as per "Accounting Standard - 19".

12. As required by "Accounting Standard -20" the basic Earning Per Share (EPS) is Rs.3.66 arrived at by dividing the Profit After Tax (PAT) by the total number of shares issued and subscribed as at the end of the year.

13. Disclosures in respect of related parties as defined in Accounting Standard 18, with whom transactions have taken place during the year are given below:-

(a) Associate Bodies Corporate : Nandini Processors Pvt. Ltd.

(b) Associate Concerns : Kirti Overseas in which directors or their Anurag Fabrics relatives are interested

(c) Directors and their relatives Radheyshyam Tilokchand Agarwal

Rambhagat Radheshyam Agarwal.

14. Schedule A to R form integral part of Balance Sheet and Profit and Loss Account and are duly authenticated.

 
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