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Notes to Accounts of Wim Plast Ltd.

Mar 31, 2015

1. Company Overview:

The company is carrying the manufacturing activity of Plastic Moulded Furniture, Plastic Extrusion Sheets, Moulds and Air Coolers having the manufacturing units at Daman, Baddi, Chennai, Haridwar and Kolkata and Corporate Office in Mumbai.

2. Contingent Liabilities not provided for :

2014-15 2013-14

(a) Outstanding Bank Guarantees 308.85 300.97

(b) Liabilities in respect of:

(i) Excise Duty 2.67 79.46

(ii) Custom Duty 17.75 17.75

(c) Export Obligation under EPCG Scheme - 52.00

(d) Estimated amount of capital contracts remaining to be executed on capital account 404.58 432.83 and not provided [Net of Advances RS. 200.20 Lacs p.y. RS. 120.74Lacs)

3. Operating Lease

The Company has availed Operating Lease for its Factory Unit and Depots. These Leases are renewable on periodic basis, and cancellable at its option. The Company has not entered into sublease agreements in respect of these Leases. Lease Rental Expenses for Operating Lease charged to Profit & Loss Account for the financial year is RS. 348.89 Lacs /- (previous year RS. 313.42 Lacs )

4. Related Party Disclosures

Name of the entities in which the Directors Mr. Ghisulal D. Rathod, Mr. Pradeep G. Rathod and Mr. Pankaj G. Rathod are Interested.

Name of the Related Entities Nature of Relationship

Cello Writing Instruments & Containers Above Directos are Pvt Ltd. Interested as Director Members, Partners and Proprietors as applicable .

Cello Household Appliances Pvt. Ltd. -do-

Cello Pens & Stationary Pvt. Ltd. -do-

Cello Pens Pvt. Ltd. -do-

Cello International Pvt. Ltd. -do-

Cello Plastic Product Pvt Ltd. -do-

Cello Stationary Product Pvt. Ltd. -do-

Pentek Pen & Stationary Pvt. Ltd. -do-

Cello Plast. -do-

Cello Plastotech. -do-

Cello World. -do-

Cello Home Products. -do-

Cello Houseware -do-

Cello Millenium Houseware. -do-

Cello Industries. -do-

Cello Oral Hygiene Product. -do-

Cello Plastic Industrial Works. -do-

Cello Household Products -do-

Cello Marketing -do-

Cello Writing Aids Pvt. Ltd. -do-

Sunkist Moulders Pvt. Ltd. -do-

Vardhman Realtors -do-

Pradeep G. Rathod Key Managerial Personnel

The above related entities being in the same Group are the persons acting in concert as per the SEBI (Substantial Acquisition and Takeover Regulations), 2011 and the amendments thereto the Regulations.

5. Segment Reporting

The Company deals In one Reportable Segment i.e. Plastic Moulded and Extruded Articles.


Mar 31, 2014

(1) Contingent Liabilities not provided for :

2013-14 2012-13

(a) Outstanding Bank Guarantees 300.97 270.21

b) Liabilities in respect of:

(i) Excise Duty 79.46 79.46

(ii) Custom Duty 17.75 17.75

(c) Export Obligation under EPCG Scheme 52.00 52.00

(d) Estimated amount of capital contracts remaining to be executed on capital account and not provided {Net of Advances Rs. 200.20 Lacs previous year Rs. 120.74 Lacs) 432.83 322.53

(2) Operating Lease

The Company has availed Operating Lease for its Factory Unit and Depots. These Leases are renewable on periodic basis, and cancellable at its option. The Company has not entered into sublease agreements in respect of these Leases. Lease Rental Expenses for Operating Lease charged to Profit & Loss Account for the financial year is Rs. 313.42 Lacs /- (previous year Rs. 112.59 Lacs )

(3) Segment Reporting

The Company deals in one Segment i.e. Plastic Moulded and Extruded Articles.


Mar 31, 2013

1. COMPANY OVERVIEW:

The Company is carrying the manufacturing activity of Plastic Moulded Furniture and Extrusion Sheets having the manufacturing units at Daman, Baddi, Chennai, Haridwar and Kolkata and Corporate Office in Mumbai.

(2) Contingent Liabilities not provided for:

2012-13 2011-12

(a) Outstanding Letters of Credit 77.87

(b) Outstanding Bank Guarantees 270.21 201.99

(c) Liabilities in respect of:

(i) Excise Duty 79.46 0.92

(ii) Service Tax 3.40

(iii) Sales Tax 10.56

(iv) Custom Duty 17.75 17.75

(v) Value Added Tax 8.60

(d) Export Obligation under EPCG Scheme 15.68 15.68

(e) Estimated amount of capital contracts remaining to be executed on 322.53 116.67 capital account and not provided {Net of Advances Rs. 120.74 Lacs

(3) Operating Lease

Company has availed Operating Lease for its Factory Units and Depots. These Leases are renewed on periodic basis, and cancellable at its option. The Company has not entered into sub lease arrangements in respect of these lease. Lease Rental expenses for Operating Lease are charged to Profit and Loss Statement for the financial year 112.59 Lacs (Previous Year * 78.09 Lacs)

(4) Segment Reporting

The Company Deals in one Segment .i.e.Plastic and extruded articles.

(5) The Figures of previous year have been regrouped / recasted, wherever necessary


Mar 31, 2012

(1)

Sr.No. 2011-12 2010-11

(1) Contingent Liabilities not provided for :

[a] Outstanding letters of credit 77.87 30.41

[b] Guarantees issued by Company'sBankers 201.99 148.08 in favour of various Central & State Government Departments & Local Bodies.

[c] Contingent liability in respect of :

1) Excise Duty 0.92 0.92

2) Service Tax 3.40 3.40

3) Sales Tax 10.56 10.56

4) Custom Duty 17.75 17.75

4) Value Added Tax 8.60

[d] Export Obligation under EPGC 15.68 418.66

(2) Estimated amount of capital contracts remaining to be executed on capital account and not provided {Net of 116.67 588.09 Advances Rs. 52.88 Lacs(Pr.Yr Rs. 341.09 Lacs ) }

2. Disclosure of Operating lease

The Company has availed Operating Lease for its Factory Unit and Depots. These Leases are renewable on periodic basis, and cancellable at its option. The Company has not entered into sublease agreements in respect of these Leases. Rental Expenses for Operating Lease charged to Profit & Loss Account for the financial year is Rs. 78.09 lacs (previous year Rs. 54.22 lacs)

3. Segment Reporting

The company deals in one segment .ie. Plastic moulded and extruded articles.

4. 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

(Rs in Lacs) 2010-11 2009-10

1) CONTINGENT LIABILITIES :

[a] Outstanding letters of credit 30.41 - 56.31 -

[b] Guarantees issued by Company's Bankers 148.08 - 162.75 -

[c] Contingent liability in respect of :

1) Excise Duty 0.92 - 0.92 -

2) Service Tax 3.40 - 3.40 -

3) Sales Tax 10.56 - - -

4) Custom Duty 17.75 - - -

[d] Import Duty Obligation under EPGC Scheme 418.66 629.78 418.66 642.04

2 ] Related Party Disclosures (As identified by the Management) (A) Particulars of Associate Entities

Sr. Name of the Party Nature of Relationship No.

1 Cello Writing Inst & Cont. Pvt. Ltd. Associated Company

2 Cello Household Appliances Pvt. Ltd. -do-

3 Cello Pens And Stationery Pvt. Ltd. -do-

4 Cello Pens Pvt. Ltd. -do-

5 Cello International Pvt. Ltd. -do-

6 Sunkist Moulders Pvt. Ltd. -do-

7 Health And Beauty Care Pvt. Ltd. -do-

8 Cello Plastic Products Pvt. Ltd. -do-

9 Cello Stationery Products Pvt. Ltd. -do-

10 Cello Tips And Pens Pvt. Ltd. -do-

11 Pentek Pen And Stationery Pvt. Ltd. -do-

12 Cello Infrastructure Ltd. -do-

13 Cello Writing Aids Pvt. Ltd. -do-

14 Cello Sales & Marketing Pvt. Ltd. -do-

15 R & T Houseware Pvt. Ltd. -do-

16 Cello Sales & Marketing Pvt. Ltd. -do-

17 Mulisha Chemical Works Pvt. Ltd. -do-

18 Mgee Marketing Services Pvt. Ltd. -do-

19 Puroma Pvt. Ltd. -do-

20 Mul Health Care Products Pvt. Ltd. -do- 21 Mul Dentpro Pvt. Ltd. -do-

22 Valley View Farms & Estate Pvt. Ltd. -do-

23 Cute Personal Products Pvt. Ltd. -do-

24 Drexel Pharma Pvt. Ltd. -do-

25 Ferromatik Milacron India Pvt. Ltd. -do-

26 Cello Plast Associated Concern Associated Concern

27 Cello Plastotech -do-

28 Cello Heights -do-

29 Cello Industries -do-

30 Cello Sales & Marketing -do-

31 Cello World -do-

32 Cello Home Products -do-

33 Cello Houseware -do-

34 Cello Oral Hygiene Products -do-

35 Cello Plastic Industrial Works -do-

36 Cello Paper Products -do-

37 Prmine Health Care Products -do-

38 Ghisulal D. Rathod Key Management Person- nel

39 Pradeep G. Rathod Key Management Person- nel

40 Pankaj G. Rathod Key Management Person- nel

41 Gaurav P. Rathod Relative of KMP

42 Pampuben G. Rathod -do-

43 Sangeeta P. Rathod -do-

44 Babita P. Rathod -do-

45 Karishma P. Rathod -do-

46 Sneha P. Rathod -do-

The above disclosures has been made, inter alia, for the purpose of consideration of Group for transfer of shares under Regulation 3(1) (e) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997.

3) Segment Reporting

The company deals in one segment i.e. Plastic moulded and extruded articles.

4) The previous year's figures have been regrouped, rearranged and recasted wherever necessary.


Mar 31, 2010

(Rupees in Lacs)

Particulars 2009-2010 2008-2009

(1) Contingent Liabilities not provided for :

[ a ] Outstanding letters of credit 56.31 115.68

[ b ] Guarantees issued by Companys Bankers in favour of 162.75 162.75 Central & State Government and other Statutory Authorities

[ c ] Contingent liability in respect of :

1) Income Tax Matters. - 4.44

2) Sales Tax Matters. 0.92 -

3) Service Tax 3.40 -

[ d ] Export Duty Saved under EPCG Scheme 418.66 642.04 418.66 701.53

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

2) RELATED PARTY DISCLOSURE ( As dentified by the Management ) (A) Particulars of subsidary/Associate Companies

Sr. No. Name of the Related Parties Nature of Relationship

1) Cello Writing Instruments And Containers Pvt Ltd. Associate Company

2) Cello Household Appliances Pvt Ltd. - do - - 3) Cello Pens And Stationary Pvt Ltd. - do -

4) Cello Pens Pvt Ltd. - do -

5) Cello International Pvt. Ltd. - do -

6) Sunkist Moulders Pvt Ltd. - do -

7) Health & Beauty Care Pvt. Ltd - do -

8) Cello Plastic Products Pvt Ltd. - do -

9) Cello Stationary Products Pvt. Ltd. - do -

10) Cello Tips And Pens Pvt. Ltd. - do -

11) Pentek Pen And Stationary Pvt. Ltd. - do -

12) Cello Capital Pvt. Ltd. - do -

13) Cello Infrastructure Ltd. - do -

14) Cello Writing Aids Pvt. Ltd. - do -

15) Mulisha Chemical Works Pvt. Ltd. - do -

16) Mgee Marketing Services Pvt. Ltd. - do -

17) Puroma Pvt. Ltd. - do -

18) Cello Plast Associate Concern

19) Cello Plastotech - do -

20) Cello Sales & Marketing - do -

21) Cello World - do -

22) Cello Home Products - do -

23) Cello Houseware - do -

24) Millenium Houseware - do - 25) Cello Oral Hygiene Products - do - 26) Cello Plastic Industrial Works - do -

27) Ghisulal D. Rathod Key Management Personnel

28) Pradeep G. Rathod Key Management Personnel

The above disclosure has been made, inter alia, for the purpose of Regulation 3 (1) (e) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 1997

3) Segment Reporting

The company deals in one segment .ie. Plastic moulded and extruded articles.

4) The previous years figure have been regrouped, rearranged and recasted wherever necessary.

 
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