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Notes to Accounts of Vinyl Chemicals (I) Ltd.

Mar 31, 2015

1. Corporate Information

The Company was incorporated in 1986 and is dealing in chemicals,mainly Vinyl Acetate Monomer (VAM) . The equity shares of the Company are listed on BSE Ltd. (BSE) and National Stock Exchange of India Ltd. (NSE).

2. Contingent liabilities not provided for

1) Claims against the Company not acknowledged as debts comprise of :

i) Income Tax demands against the Company 12,82,690 10,07,430 not provided for & relating to issues of deductions in respect of which the Company is in appeal

ii)Sales Tax claims disputed by the Company 6,75,81,568 1,87,23,270 relating to issue of declaration forms, set-off & classification of sales

2) Guarantees 1,10,85,000 1,10,85,000

3. Details of dues to micro and small enterprises

The Company did not have any time during the year, amount due to small and medium enterprises (SME) which is outstanding for more than 45 days. Further, no interest is paid/payable to such SME creditors. The above information has been determined to the extent such parties have been identified on the basis of information available with the Company.

4. Related party disclosure

Names of related parties and relationship

i. Pidilite Industries Ltd. - Holds 40.64 % of equity shares of the Company

ii . Key Managerial Personnel - Shri M.B. Parekh Chairman & Managing Director

Shri P.C. Patel

President & Company Secretary

Shri M.S. Gayatonde

Chief Financial Officer

iii. Other Directors - Sarva Shri N.K. Parekh,

R.M. Gandhi, A.D. Mavinkurve & Smt.Y.J.Mogrelia

5. Segment information

The Company's current business activity has only one primary reportable segment, namely trading in chemicals.

6. Previous year's figures have been regrouped wherever necessary.


Mar 31, 2014

31st March, 31st March,

2014 2013

1. Contingent liabilities Rs Rs

Guarantees 1,10,85,000 1,10,85,000

2. Details of dues to micro and small enterprises The Company did not have any time during the year, amount due to small and medium enterprises (SME) which is outstanding for more than 45 days. Further, no interest is paid/payable to such SME creditors. The above information has been determined to the extent such parties have been identified on the basis of information available with the Company.

3. Segment information The Company''s current business activity has only one primary reportable segment, namely trading in chemicals

4. Previous year''s figures have been regrouped wherever necessary.


Mar 31, 2013

31st March, 31st March, 2013 2012

1. Contingent liabilities

Guarantees 1,10,85,000 1,10,85,000

2. Details of dues to micro and small enterprises

The Company did not have at any time during the year, amount due to small and medium enterprises (SME) which is outstanding for more than 45 days. Further, no interest is paid/payable to such SME creditors. The above information has been determined to the extent such parties have been identified on the basis of information available with the Company.

3. Related party disclosure:

i. Names of related parties and relationship:

Pidilite Industries Ltd. - Holds 40.64 % of equity shares of the Company ii. Key management personnel - Shri M.B.Parekh, Managing Director iii. Other Directors - Sarva Shri N.K.Parekh, R.M.Gandhi, A.D.Mavinkurve and Smt. Y.J.Mogrelia

4. Segment information

The Company''s current business activity has only one primary reportable segment, namely trading in chemicals.

5. Previous year''s figures have been regrouped wherever necessary.


Mar 31, 2012

1. Contingent liabilities

Guarantees 1,10,85,000 83,50,000

2. Details of dues to micro and small enterprises

The Company did not have at any time during the year, amount due to small and medium enterprises (SME), which is outstanding for more than 45 days. Further, no interest is paid/payable to such SME creditors. The above information has been determined to the extent such parties have been identified on the basis of information available with the Company.

3. Segment information

The Company's current business activity has only one primary reportable segment, namely trading in chemicals.

4. Previous year's figures have been regrouped wherever necessary.


Mar 31, 2011

1. Contingent Liabilities not provided for:

Guarantees given by the Companys Banker on behalf of the Company, Rs.83.50 Lacs (Previous Year Rs.207.41 Lacs).

2. The Company did not have any time during the year amount due to small and medium enterprises (SME) which is outstanding for more than 45 days. Further, no interest is paid/payable to such SME creditors. The above information has been determined to the extent such parties have been identified on the basis of information available with the Company.

3. Related party disclosure:

Related party disclosures, as required by AS-18, are given below: i. Relationship:

Pidilite Industries Ltd. Holds 40.64 % of Equity Shares of the Company

ii. Key Management Personnel Shri M.B. Parekh, Managing Director

iii. Other Directors Sarva Shri B.K. Parekh, N.K. Parekh, R.M. Gandhi,

A.D. Mavinkurve, Smt. Y.J. Mogrelia & Santosh Kumar.

Except sitting fees to Directors, the rest of above transactions are with Pidilite Industries Ltd.

No amounts have been written off or written back during the year in respect of debts due from or to

Related Parties.

4. The Companys current business activity has only one primary reportable segment, namely trading in chemicals.

5. Previous years figures have been regrouped wherever necessary.


Mar 31, 2010

1. Contingent Liabilities not provided for:

Guarantees given by the Companys Banker on behalf of the Company, Rs.207.41 Lacs (Previous Year Rs.171.05 Lacs).

2. The Company did not have any time during the year amount due to small and medium enterprises (SME) which is outstanding for more than 45 days. Further, no interest is paid/payable to such SME creditors.

The above information has been determined to the extent such parties have been identified on the basis of information available with the Company.

3. Related party disclosure :

Related party disclosures, as required by AS - 18, are given below:

i. Relationship:

Pidilite Industries Ltd. Holds 40.64 % of Equity Shares of the Company

ii. Key Management Personnel Shri M.B. Parekh, Managing Director

iii. Other Directors Sarva Shri B.K. Parekh, N.K. Parekh, R.M. Gandhi,

A.D. Mavinkurve, Smt. Y.J. Mogrelia & Santosh Kumar.

4. The Companys current business activity has only one primary reportable segment, namely trading in chemicals.

5. Previous years figures have been regrouped wherever necessary.

In compliance with Clause 49 of the Listing Agreement with Stock Exchanges, the company submits the following report:



 
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