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Notes to Accounts of Sturdy Industries Ltd.

Mar 31, 2015

1. Previous year figures have been re-arranged, reworked, reclassified or re-grouped wherever necessary to make them comparable with the current year's figures and others disclosure for the proceeding year are included as an integral part of the current year financial statements and are to be read in relation to the amount and others disclosures relating to the current year.

2. The company provides for gratuity in accordance with the payments of Gratuity Act,1972,a defined retirement plan (the plan) covering all employee.

3. Contingent Liability not provided for in respects of : Rs in (Lacs)

Current Year Previous Year

(a) Outstanding balance of Bank Guarantees Rs 6210.76 Rs 4666.91

(b) Corporate Guarantee Rs 4440.00 *Rs 4440.00

c) Outstanding balance of ILC/FLC Rs 1879.00 ** Rs 5329.00

* Corporate Guarantee issued in favor of Tirupati Aluminium Limited **Outstanding FLC includes Buyer Credit Against Term Loan

Balance of Unsecured Loans Current Liabilities, Current Assets, Loans and Advances are subjects to confirmation and reconciliation from the respective parties. However the management does not expect any material difference affecting the financial statement for the year.

4. In opinion of the Board of Directors, the Current Assets. Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet.

5. Estimated amount of Contracts remaining to be executed on Capital Account and not provided for net of advances Rs 91.60 Lacs(Previous Year Rs 91.60 Lacs)

6. During the year, the Company has accounted for Deferred Tax Liability/assets in accordance with the Accounting Standard-22 "Accounting for Taxes on Income" issued by the Council of the Institute of Chartered Accountants of India.

7. Segment Reporting Primary Segment

Based on the guiding principle given in the Accounting Standard-17 "Segment Reporting" issued by the institute of Chartered Accountants of India, The Company's primary segment are Pipes & Fitting, Irrigation System, ACC & ACP Sheets and Trading in Polymers & Aluminum Etc.

The above business segment have been identified considering:

I. The Nature of the products

II. The related risks and returns.

III. The internal financial reporting systems

B. Secondary Segment

The Company caters mainly to the needs of Northern Markets 10.Related Party Disclosure

Disclosure as required by the Accounting Standards 18 " Related Disclosure" are given below: a) List of Related Parties:

Associated Companies

S. Name of the Address Relationship No Related Party

1. Chemiplast Industries 55-57,Industrial Associate Concern Area, Sector-1, Parwanoo

2. Tirupati Aluminium 44/1,Pipli Wala Town, Associate Company Limted Mani Majra,Chandigarh

Key management personnel and Relative:

1 Sh. M.L Gupta 2. Sh. Ramesh Gupta 3. Sh. Amit Gupta

8.Earning Per Share

In determining earning per share , the company considers the net profit after tax for the year attributable to equity shareholders. The Numbers of share is the weighted average number of share outstanding during the year. The numbers of share used in computing diluted earning per share comprise the weighted average per share considered for deriving basic earning per share, & also the weighted average numbers of share which could have been issued on the conversion of dilutive potential share, Disclosures as required by AS(20) is given as under:-

9. Disclosure as required under Accounting Standard-19"Accounting for Lease " as Prescribed under Companies (Accounting Standards) Rule 2006:

The Company has not entered into any fresh operating leasing agreement during the year Current Financial Year.

10. Disclosure under Micro, Small, and Medium Enterprises Development Act,2006

The management of the Company has shown its inability to indentify the creditors which micro and small enterprises. So due to the known availability to relevant information and by accepting this representation of the management it is impracticable to provide the requisite information.

11. Expenditure on employee in receipt of remuneration of not less than Rs. 60,00,000/- per annum, if employed through out the year or 5,00,000/- per month Nil when employed for the part of the year.


Mar 31, 2014

1. Previous year figures have been re-arranged, reworked, reclassified or re-grouped wherever necessary to make them comparable with the current year''s figures amount and others disclosure for the proceeding year are included as an integral part of the current year financial statements and are to be read in relation to the amount and others disclosures relating to the current year.

2. The company provides for gratuity in accordance with the payments of Gratuity Act,1972,a defined retirement plan (the plan) covering all employee.

3. Contingent Liability not provided for in respects of :

Rs in (Lacs)

Current Year Previous Year

(a) Outstanding balance of Bank Guarantees Rs 4666.91 Rs 4797.00

(b) Corporate Guarantee * Rs 4440.00 Rs 1550.00

c) Outstanding ILC/FLC ** Rs 5329.00 Rs 4942.00

* Corporate Guarantee issued in favor of Tirupati Aluminium Limited ** Outstanding FLC includes Buyer Credit Against Term Loan

4. Balance of Unsecured Loans Current Liabilities, Current Assets, Loans and Advances are subjects to confirmation and reconciliation from the respective parties. However the management does not expect any material difference affecting the financial statement for the year.

5. In opinion of the Board of Directors, the Current Assets. Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet.

6. Estimated amount of Contracts remaining to be executed on Capital Account and not provided for net of advances Rs 91.60 Lacs(Previous Year Rs 91.66 Lacs)

7. During the year, the Company has accounted for Deferred Tax Liability/assets in accordance with the Accounting Standard-22 "Accounting for Taxes on Income" issued by the Council of the Institute of Chartered Accountants of India.

8. Segment Reporting Primary Segment

Based on the guiding principle given in the Accounting Standard-17 "Segment Reporting" issued by the institute of Chartered Accountants of India, The Company''s primary segment are Pipes & Fitting, Irrigation System, ACC & ACP Sheets and Trading in Polymers & Aluminum Etc.

The above business segment have been identified considering:

I. The Nature of the products

II. The related risks and returns.

III. The internal financial reporting systems

B. Secondary Segment

The Company caters mainly to the needs of Northern Markets

9.Related Party Disclosure

Disclosure as required by the Accounting Standards 18 " Related Disclosure" are given below: a) List of Related Parties:

Associated Companies

S.No Name of the Related Party Address Relationship

1. Chemiplast Industires 55-57,Industrial Area, Associates Company

Sector-1, Parwanoo

2. Tirupati Aluminium Limted 44/1,Pipli Wala Town, Associates Company

Mani Majra,Chandigarh

Management personnel and Relative:

1 Sh. M.L Gupta 2. Sh. Ramesh Gupta 3. Sh. Amit Gupta

10. Disclosure as required under Accounting Standard-19"Accounting for Lease " as Prescribed under Companies (Accounting Standards) Rule 2006:

The Company has not entered into any fresh operating leasing agreement during the year Current Financial Year.

11. Disclosure under Micro, Small, and Medium Enterprises Development Act,2006

The management of the Company has shown its inability to indentify the creditors which micro and small enterprises. So due to the known availability to relevant information and by accepting this representation of the management it is impracticable to provide the requisite information.

12. Expenditure on employee in receipt of remuneration of not less than Rs. 60,00,000/- per annum, if employed through out the year or 5,00,000/- per month Nil when employed for the part of the year.

Nature of Security |

1. Term Loan Amounting to Rs. 59.16 Lacs ( Rs. 151.33 Lacs as on 31.03.2013 ) is secured by Exclusive and specific charge on Assets Acquired under the Loan for Plant at Baddi ( H.P. )

2. Term Loan Amounting to Rs. 3223.06 Lacs ( Rs. 3301.82 As on 31.03.2013 ) is secured by Exclusive and specific charge on Assets Acquired under the Loan for Plant at Assam.

3. Term Loan Amounting to Rs.Nil ( Rs. 2.42 As on 31.03.2013 ) is secured by Exclusive and specific charge on Assets Acquired under the Loan for Plant at Assam

4. Term Loan Amounting to Rs.Nil ( Rs. 3.84 As on 31.03.2013 ) is secured by Exclusive and specific charge on Assets Acquired under the Loan for Plant at Assam

5. Term Loan Amounting to Rs.8.78 ( Rs. 13.09 As on 31.03.2013 ) is secured by Exclusive and specific charge on Assets Acquired under the Loan for Plant at Baddi

Terms of Repayment

1. Repayment in 22 Quarterly Instalements Commencing from April, 2010. ROI 14.75 % P.A. as at year end ( previsous Year 14.50 % P.A. )

2. Repayment in 24 Quarterly Instalements Commencing from May, 2013. ROI 12 % P.A. as at year end ( previsous Year NIL P.A. )

3. Repayment in 60 Monthly Instalements Commencing from Feb, 2011. ROI 11.75 % P.A. as at year end ( previsous Year 12% P.A. )

4. Repayment in 35 Monthly Instalements Commencing from Feb, 2011. ROI 11.75 % P.A. as at year end ( previsous Year 12% P.A. )

5. Repayment in 35 Monthly Instalements Commencing from Feb, 2013. ROI 11.25 % P.A. as at year end ( previsous Year NIL P.A. )


Mar 31, 2013

1.Previous year figures have been re-arranged, reworked, reclassified or re-grouped wherever necessary to make them comparable with the current year''s figures amount and others disclosure for the proceeding year are included as an integral part of the current year financial statements and are to be read in relation to the amount and others disclosures relating to the current year.

2.The company provides for gratuity in accordance with the payments of Gratuity Act,1972,a defined retirement plan (the plan) covering all employee.

Contingent Liability not provided for in respects of:

Rs. In (Lacs)

Current Year Previous Year

(a) Outstanding balance of Bank Guarantees Rs 4797.00 Rs 2835.11

(b) Corporate Guarantee * R s 1550.00 Rs 1550.00

c) Outstanding ILC/FLC** Rs 4942.00 Rs 4768.06

* Corporate Guarantee issued in favor of Tirupati Aluminium Limited ** Outstanding FLC includes Buyer Credit Against Term Loan

3. Balance of Unsecured Loans Current Liabilities, Current Assets, Loans and Advances have a value are subjects to confirmation and reconciliation from the respective patties. However the management does not expect any material difference affecting the financial statement for the year.

4. In opinion of the Board of Directors, the Current Assets. Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet.

5.Estimated amount of Contracts remaining to be executed on Capital Account and not provided for net of advances Rs 91.66 Lacs(Previous Year Rs 5466.41 Lacs)

6. During the year, the Company has accounted for Deferred Tax Liability/assets in accordance with the Accounting Standard-22 "Accounting for Taxes on Income" issued by the Council of the Institute of Chartered Accountants of India.

7. Segment Reporting

Primary Segment

Based on the guiding principle given in the Accounting Standard-17 "Segment Reporting" issued by the institute of Chartered Accountants of India, The Company''s primary segment are Pipes & Fitting, Irrigation System, ACC & ACP Sheets and Trading in Polymers & Aluminum E tc.

The above business segment have been identified considering:

I. The Nature of the products

II. The related risks and returns.

III. The internal financial reporting systems

8. Earning Per Share

In determining earning per share , the company considers the net profit after tax for the year attributable to equity shareholders. The Numbers of share is the weighted average number of share outstanding during the year. The numbers of share used in computing diluted earning per share comprise the weighted average per share considered for deriving basic earning per share, &c also the weighted average numbers of share which could have been issued on the conversion of dilutive potential share, Disclosures as required by AS(20) is given as under:-

9. Disclosure as required under Accounting Standard-19"Accounting for Lease" as Prescribed under Companies (Accounting Standards) Rule 2006:

The Company has not entered into any fresh operating leasing agreement during the year Current Financial Year.

10. Disclosure under Micro, Small, and Medium Enterprises Development Act,2006

There are no micro and small enterprises to which the company owes dues which are outstanding for more than 95 days as at 31/03/2013.This information is required to disclosed under micro and Medium Enterprises Development Act,2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

11. Expenditure on employee in receipt of remuneration of not less than Rs. 60,00,000/- per annum, if employed through out the year or 5,00,000/- per month Nil when employed for the part of the year.

 
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