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Notes to Accounts of Wim Plast Ltd.

Mar 31, 2018

Note

The Company has availed the deemed cost exemption in relation to the property, plant and Equipment on the date of transitions and hence the net block carrying amount has been considered as the gross block carrying amount in that date. Refer below given deemed cost gross block value and accumulated depreciation on April 01,2016 under previous GAAP.

Note:

1) There is no change in Authorised , Issued, Subcribed and paid up share capital during the financial year

2) In the period of five years immediately preceding March 2018

The Company has alloted equity shares .i.e. Bonus share without payment being received in cash in the year 2016-17.

Aggregate number of bonus shares issued, share issued for consideration other than cash and share bought back during the period of 5 years immediately preceeding the reported date - Nil

3) Rights/Preference/Restriction attached to Equity Shares : The Group has only one class of Equity shares having par value of Rs 10. Each shareholder of equity shares is entitled to one vote per share. In the event of liquidation of the Company, the holder of equity shares will be entitled to receive the remaining assets of the company after distribution of all preferential allotment in proportion to their shareholding. The dividend whenever proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting and in the case of interim dividend, it is ratified by the Shareholders at the AGM.

Nature and purpose of reseive

1) Capital Reserve : Capital reserve is comprised of profit & gain of capital in nature earned by the Company.

2) Securities Premium Reserve : Securities premium reserve is used to record the premium on issue of shares. The reserve is utilised in accordance with the provisions of the Companies Act.

3) Gerneral Reserve : General reserve forms part of the retained earnings and is permitted to be distributed to shareholders as part of dividend.

4) Remeasurements of the net defined benefit plans : Remeasurements of the net defined benefit Plans comprises actuarial gains and losses and return on plan assets (excluding interest income).

According to information available with the Management on the basis of intimation received from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act),the Company has amounts due to Micro and Small Enterprises under the said Act as follows:

Note- 27 - FIRST-TIME ADOPTION OF IND AS Transition to Ind AS

The Company has adopted Indian Accounting Standards (Ind AS) as notified by the Ministry of Corporate Affairs with effect from April 01, 2017 with a transition date of April 01, 2016. The adoption of Ind AS has been carried out in accordance with Ind AS 101, First-time Adoption of Indian Accounting Standards. Ind AS 101 requires that all Ind AS standards and interpretations that are issued and effective for the first Ind AS financial statements for the year ended March 31, 2018, be applied retrospectively and consistently for all financial years presented. However, in preparing these Ind AS financial statements, the Company has availed of certain exemptions and exceptions in accordance with Ind AS 101, as explained below. The resulting difference between the carrying values of the assets and liabilities in the financial statements as at the transition date under Ind AS and Previous GAAP have been recognised directly in equity (retained earnings or another appropriate category of equity).

Set out below are the applicable Ind AS 101 optional exemptions and mandatory exceptions applied in the transition from previous GAAP to Ind AS.

A. Ind AS mandatory exceptions

1. Estimates

An entity''s estimates in accordance with Ind AS at the date of transition to Ind AS shall be consistent with estimates made for the same date in accordance with previous GAAP (after adjustments to reflect any difference in accounting policies).

Ind AS estimates as at April 01, 2016 are consistent with the estimates as at the same date made in conformity with previous GAAP. The Company made estimates for following items in accordance with Ind AS at the date of transition as these were not required under previous GAAP:

i) Investment in equity instruments carried at FVTPL or FVOCI;

ii) Impairment of financial assets based on expected credit loss model.

2. Classification and measurement of Financial Assets

Ind AS 101 requires an entity to assess classification and measurement of financial assets on the basis of the facts and circumstances that exist at the date of transition to Ind AS.

3. Derecognition of Financial Assets and Financial Liabilities

The Company has elected to apply derecognition requirements for financial assets and financial liabilities in Ind AS 109 prospectively for transactions occurring on or after the date of transition to Ind AS.

4. Classification and measurement of Financial Assets

The Company has classified the financial assets in accordance with Ind AS 109 on the basis of facts and circumstances that exist at the date of transition to Ind AS.

B. Ind AS optional exemptions

1. Deemed cost

As per Ind As 101, all Property, Plant and Equipment are to be measured at their carrying value. The Company has elected to continue with the carrying value for all of its Property, Plant and Equipment, intangible assets recognised in the financial statements as the deemed cost at the date of transition to Ind AS, measured as per the IGAAP.

2. Investments in subsidiary

The Company present separate financial statement wherein Ind AS 27 requires it to measure its investment in subsidiaries and associate either at cost or in accordance with the Ind AS 109. The Company at first time adoption has measured such investment at cost in accordance with the Ind AS 27.

C. Transition to Ind AS - Reconciliations

The following reconciliations provide a quantification of the effect of significant differences arising from the transition from previous GAAP to Ind AS in accordance with Ind AS 101:

I. Reconciliation of Balance sheet as at April 1, 2016 and March 31, 2017

II. Reconciliation of Statement of Profit and Loss for the year ended March 31, 2017

III. Reconciliation of other Equity as at April 1, 2016 and March 31, 2017

D. Reconciliation between IGAAP and Ind AS:

Ind AS 101 requires an entity to reconcile equity, total comprehensive income for prior periods. The following table represent the reconciliation from IGAAP to Ind AS.

NOTES TO FIRST TIME ADOPTION 1: Proposed Dividend

Under the previous GAAP, dividend proposed by the Board of Directors after the balance sheet date but before the approval of the financial statements were considered as subsequent events. Accordingly, provision for proposed dividend including dividend distribution tax was recognised as liability. Under Ind AS, such dividends is recognised when the same is approved by the shareholders in the general meeting.

2: Remeasurements of post-employment benefit obligations

Under the previous GAAP, costs relating to post employment benefit obligations including actuarial gain/losses were recognised in Profit & Loss. Under Ind AS, actuarial gain/losses on the net defined benefit liability are recognised in other comprehensive income instead of Profit & Loss.

3: Security deposits

Under the previous GAAP, interest free lease security deposits (that are refundable in cash on completion of lease term) are recorded at transaction cost. Under Ind AS All financial assets are required to be recognised at fair value. Accordingly, the Company has fair valued the security deposits and the difference between the fair value and transaction value of the security deposit has been recognised as prepaid rent.

4 : Fair Valuation of Investments

Under previous GAAP, Current investments in mutual funds were carried at lower of cost or fair value. Under Ind AS, these investments are requiring to be measured either at, Fair Value Through OCI (FVTOCI) or Fair Value Through Profit & Loss (FVTPL). The Company has opted to fair value these investments through Profit & Loss (FVTPL). Accordingly, resulting fair value changes of these investments have been recognised in retained earnings as at the date of transition and subsequently in the profit & loss account for the year ended March 31 2018.

5 : Revenue Recognition

Under IGAAP, revenue is recognised net of trade discounts, sales taxes and excise duties. Under Ind AS, revenue is recognised at the fair value of the consideration received or receivable, after the deduction of any discounts, rebates and any taxes or duties collected on behalf of the government such as Goods and Service Tax, sales tax and value added tax except excise duty. Discounts given include rebates, price reductions and incentives given to distributors/ customers, cash discount, promotional couponing and trade communication costs which have been reclassified from cash and scheme expenses within other expenses under IGAAP and netted from revenue under Ind AS.

6 : Deferred taxes

Under previous GAAP, deferred taxes were recognised based on Profit & loss approach i.e. tax impact on difference between the accounting income and taxable income. Under Ind AS, deferred tax is recognised by following balance sheet approach i.e. tax impact on temporary difference between the carrying value of asset and liabilities in the books and their respective tax base.

7 : Loans

Under the previous GAAP, interest free loans are recorded at transaction cost. Under Ind AS All financial assets are required to be recognised at fair value. Accordingly, the Company has fair valued the loans and the difference between the fair value and transaction value of the loans has been recognised as interest.

Note 28: Financial Instruments

The financial instruments are categorized into three levels based on the inputs used to arrive at fair value measurements as described below: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2: Inputs other than the quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and Level 3: Inputs based on unobservable market data Valuation Methodology

All financial instruments are initially recognized and subsequently re-measured affair value as described below:

a) The fair value of investment in in Mutual Funds is measured at quoted price or NAV

b) All foreign currency denominated assets and liabilities are translated using exchange rate at reporting date.

c) The fair value of the remaining financial instruments is determined using discounted cash flow analysis.

Note - 30: RISK MANAGEMENT

Financial Risk Management - Objectives and Policies

The Company''s activities expose it to a variety of financial risks. The Company''s primary focus is to foresee the unpredictability and seek to minimize potential adverse effect on its financial performance.

The Company has also constituted a Risk Management Committee which is responsible for monitoring the Company''s risk management policies which are established to identify and analyse the risks faced by the Company. The Committee periodically review the changes in the market condition and reflect the changes in the policies accordingly.

The key risks and mitigating actions are also placed before the Audit Committee of the Company. The Audit Committee oversees how Management monitors compliance with the Company''s Risk Management policies and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Company.

A) Credit Risk :

Credit risk is the risk that a customer or counterparty to a financial instrument fails to perform or pay the amounts due causing financial loss to the Company. Credit risk arises from Company''s activities in investments and outstanding receivables from customers.

In respect of its investments, the Company aims to minimize its financial credit risk through the application of risk management policies. The Company''s exposure to credit risk is influenced mainly by the individual characteristics of each customer in which it operates. Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of the customers, to whom the Company grants credit in accordance with the terms and conditions and in ordinary course of its business.

The Risk Management Committee has established a credit policy under which each new customer is analysed individually for creditworthiness, before the Company''s standard payment and delivery terms and conditions are offered. Further for domestic sales, the Company segments its customers into Distributors and Others, for credit monitoring.

The Company maintains security deposits for sales made to its distributors. For other trade receivables, the Company individually monitors the sanctioned credit limits as against the outstanding balances. Accordingly, the Company makes specific provisions against such trade receivables wherever required and monitors the same at periodic intervals.

The Company monitors each loan and advance given and makes any specific provision, as and when required.

The Company establishes an allowance for impairment that represents its estimate of expected losses in respect of trade receivables and loans and advances

B) Liquidity Risk

Liquidity risk arises from the Company''s inability to meet its cash flow commitments on time. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through an adequate amount of committed credit facilities to meet obligations when due and to close out market positions. In addition, processes and policies related to such risk are overseen by the senior management. Management monitors the Company''s net liquidity position through rolling forecasts on the basis of expected cash flows.

The Company''s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company''s reputation.

As of March 31, 2018, March 31, 2017 and April 01, 2016 the Company had unutilized credit limits from banks of Rs 717.44 lacs, Rs 267.00 lacs and Rs 596.35 lacs respectively.

The current ratio of the Company as at March 31, 2018 is 8.26 (as at March 31, 2017 is 5.62, as at April 01, 2016 is 5.46) whereas the liquid ratio of the Company as at March 31, 2018 is 4.12 (as at March 31, 2017 is 3.23, as at April 01, 2016 is 3.04)

Contractual Maturity profile of financial liabilities

The company''s liquidity is managed centrally with operating units forecasting their cash and liquidity requirements. Treasury pools the cash surpluses from across the different operating units and then arranges to either fund the net deficit or invest the net surplus in the market.

The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted, and include estimated interest payments and exclude the impact of netting agreements

C) Market Risk- Interest Rate Risk ('' in lacs)

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate risk is the risk of changes in fair values of fixed interest bearing investments because of fluctuations in the interest rates. Cash flow interest rate risk is the risk that the future cash flows of floating interest bearing investments will fluctuate because of fluctuations in the interest rates.

D) MARKET RISK- FOREIGN CURRENCY RISK

The Company operates internationally and a portion of the business is transacted in several currencies. Consequently, the Company is exposed to foreign exchange risk through its sales and services in overseas and purchases from overseas suppliers in various foreign currencies. Exports of the Company are significantly lower in comparison to its imports. The following table shows foreign currency exposures in USD and EUR on financial instruments at the end of the reporting period. The exposure to foreign currency for all other currencies are not material.

E) Market Risk- Price Risk

Price risk Mutual fund Net Asset Values ( NAVs) are impacted by a number of factors like interest rate risk, credit risk, liquidity risk , market risk in addition to other factors. A movement of 1% in NAV on either side can lead to a gain/loss of Rs, 24.13 Lacs as on March 31, 2018 and Rs, Nil Crore as at March 31, 2017.

F) Commodity Risk

The Company''s principle raw materials are variety of plastic polymers which are primarily Derivatives of Crude Oil. Company sources its raw material requirement from across the globe. Domestic market prices generally remains in sync with the international market prices. Volatility in Crude Oil prices, Currency fluctuation of Rupee vis-a-vis other prominent currencies coupled with demand-supply scenario in the world market, affect the effective price and availability of polymers for the Company. Company effectively manages availability of

material as well as price volatility by expanding its source base, having appropriate contracts and commitments in place and planning its procurement and inventory strategy. Risk committee of the Company comprising of members from the Board of Directors and the operations, have developed and enacted a risk management strategy regarding Commodity Price risk and its mitigation.

Note 8 : Capital Management

The Company''s capital management is driven by the Company''s policy to maintain a sound capital base to support the continuous development of its business. The Board of Directors seeks to maintain a prudent balance between different components of the Company''s capital. The Management monitors the capital structure and the net financial debt at individual currency level. Net financial debt is defined as current and non-current financial liabilities less cash and cash equivalents and short term investments.

2) Defined Benefit Plan :

The Company provides the Group Gratuity Scheme under defined benefit plans for qualifying employees. The gratuity is payable to all eligible employee on retirement , subject to completion of five years of the continuous employee, death or termination of employee that is based on last drawn salary and tenure of employment. Liabilities in gratuity plan are determined by actuarial valuation on the balance sheet date and the Company make the annual contribution to the gratuity fund which is administered by the life Insurance Companies under their respective Group Gratuity Scheme.

The disclosure in respect of the defined Gratuity Plan are given Below

h) Sensitivity Analysis

Significant acturial assumptions for the determination of the defined benefit obligation are discount trade , expected salary increase and employee turnover. The sensitivity analysis below, have been determined based on reasonable possible changes of assumptions occurring at the end the of reporting period, while holding all other assumptions consant. These plans typically expose the Company to actuarial risks such as: investment risk, interest risk, longevity risk and salary risk. Investment risk The present value of the defined benefit plan liability is calculated using a discount rate which is determined by reference to market yields at the end of the reporting period on government bonds. Interest risk A decrease in the bond interest rate will increase the plan liability; however, this will be partially offset by an increase in the return on the plan debt investments. Longevity risk The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan''s liability. Salary risk The present value of the defined plan liability is calculated by reference to the future salaries of plan participants. As such, an increase in the salary of the plan participants will increase the plan''s liability. The result of sensitivity is given below:

1) The Excise and Service Tax, Sales Tax demand are being based on the interpretation of law & rule, Management has been taken opinion by the counsel that many issue raised by the revenue will not tenable and covered by judgement .

2) Further cash flow in respect of these are determinable only on receipt of Judgement or decision pending with various forums or authorise.

Note 38 : Corporate Social Responsibility (CSR)

1) CSR amount required to be spent as per Section 135 of the Companies Act, 2013 read with Schedule VII thereby the company during the year is ''127.40 Lacs (Previous Year 105.56 Lacs)

2) Amount spent during the year on

The Investment in subsidiary company have been accounted at cost in the Standalone Financial Statement Note 40 : Segment

In accordance with IND AS 108 Operating Segment, Segment information has been given in the the consolidated financial statement of Wimplast Limited and therefore no separate disclosure on segment information is given in these financial statements.

Note 9 : Related Parties Disclosure

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

Note 10 : Events occuring after reporting period Proposed Dividend

The Board of Directors at its meeting held on May 29,2018 have recommended a final dividend of Rs, 7/- per equity share of face value of Rs, 10/- for the financial year ended March 31, 2018. The amount to Rs, 840.24 Lacs excluding dividend distribution tax of Rs, 171.05 Lacs. Same is subject to approval at the ensuing Annual General Meeting of the Company and hence it is not recognised as liability.

Note 11 : Approval of Financial Statement

Financial Statements are approved by Board of Directors at their Meeting held on May 29, 2018.

Note 12 : The previous year figures are regrouped/ recasted, wherever it is necessary.


Mar 31, 2017

Operating Lease charged to Profit & Loss Account for the financial year is '' 461.97/- Lacs (previous year '' 379.75 Lacs )

Note :

The company has allotted 6001680 fully paid Bonus Equity Shares of ''10/- each on September 14,2016 in the proportion of one Bonus share for every one fully paid up capital .

As the result of bonus issue no of share of the company increased to 12003360 from 6001680 and consequent to the above increase in paid up capital, Earning per share has been restated for the prior period for proper comparison.

(1) Segment Reporting

The Company is dealing with Plastic Moulded Furniture, Air coolers and Manufacturing of Mould during the year and there is only reportable segment .i.e. Plastic Moulded Furniture.

(2) The Figures of the previous year have been regrouped/recanted, wherever necessary.


Mar 31, 2016

The above information has been complied to extent such parties have been identified on the basis of information available with the Company: (8) 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. Lease Rental Expenses for Operating Lease charged to Profit & Loss Account for the financial year is Rs, 379.75 Lacs /- (previous year Rs, 348.89 Lacs )_

(1) Segment Reporting

The Company has only one reportable segment i.e. Plastic Molded and Extruded Articles.

(2) The Figures of the previous year have been regrouped/recanted, wherever necessary.


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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