Mar 31, 2015
1: Corporate Information
Addi Industries limited (the company) is a public limited company
incorporated in the year 1980 under the provisions of the Companies
Act, 1956. Its shares are listed on Bombay Stock Exchange in India. The
Company is engaged in the manufacturing and marketing of readymade
garments.
2. Share Capital
(a) Terms/rights attached to equity shares
The company has only one class of equity shares having a par value of
Rs. 5/- per share. Each holder of Equity shares is entitled to one vote
per share. The company declares and pays dividend in Indian Rupees. The
dividend proposed by the Board of Directors is subject to the approval
of shareholders in the ensuring Annual General Meeting. In the event of
liquidation of the company, the holders of equity shares will be
entitled to receive remaining assets of the company, after distribution
of all preferential amounts. The distribution will be in proportion to
the number of equity shares held by the shareholders
3. a) Contingent Liabilities
i) Claims against the company, not accepted and not provided for: Rs.
7,742,020 towards Employees State Insurance (March 31, 2014: Rs.
7,742,020).
4. (i) Defined Benefit plans
The employee's gratuity fund scheme defined unfunded benefit plan. The
present value of obligation is determined based on actuarial valuation
using the projected unit credit method, which recognizes each period of
service as giving rise to additional unit of employees benefit
entitlement and measures each unit separately to built up the final
obligation. The obligation for leave encashment is a defined unfunded
benefit plan, which is recognized in the same manner as gratuity.
5. Disclosure of Related parties/ Related parties transactions:
A. Name of the Related Parties and description of relationship
i) Wholly owned Subsidiary Company
Aum Texffab Pvt. Ltd.
ii) Key Management Personnel
Mr. C.L. Jain
Mrs. Urmila Jain Mr. Atul Jain
6. In view of the management,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 as at
31.03.2015.
7. The company is in business of single product "ready garments".
Therefore, the requirements in context of the Accounting Standard -17
Segmental Reporting" are not applicable.
8. The closing balances of creditors and loans and advances are subject
confirmation.
9. Previous year figures have been regrouped/ rearranged wherever
considered necessary.
Mar 31, 2014
Note 1: Corporate Information
Addi Industries limited (the company) is a public limited company
incorporated in the year 1980 under the provisions of the Companies
Act, 1956. Its shares are listed on Bombay Stock Exchange in India. The
Company is engaged in the manufac- turing and marketing of readymade
garments.
2. (a) Terms/rights attached to equity shares
The company has only one class of equity shares having a par value of
Rs. 5/- per share. Each holder of Equity shares is entitled to one vote
per share. In the event of liquidation of the company, the holders of
equity shares will be entitled to receive remaining assets of the
company, after distribution of all preferential amounts. The
distributuion will be in proprtion to the number of equity shares held
by the shareholders
3. Note :
Keeping in view the principle of prudence as per Accounting Standard -
"22 "Accounting for Taxes on Income", read with ASI- 3; since there is
no virtual certainty of future profits to absorb the entire business
losses, the company has not recognized deferred tax assets on the
brought forward losses and unabsorbed depreciation.
4. Contingent Liabilities
i) Claims against the company, not accepted and not provided for : Rs.
7,742,020 towards Employees State Insurance (March 31, 2013: Rs.
7,742,020).
(ii) Defined Benefit plans
The employee''s gratuity fund scheme defined unfunded benefit plan. The
present value of obligation is determined based on actuarial valuation
using the projected unit credit method, which recognizes each period of
service as giving rise to additional unit of employees benefit
entitlement and measures each unit separately to built up the final
obligation. The obligation for leave encashment is a defined unfunded
benefit plan, which is recognized in the same manner as gratuity.
Note 5 :
In view of the management, 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 as at
31.03.2014.
Note 6 :
The company is in business of single product "ready garments".
Therefore, the requirements in context of the Accounting Standard - 17
Segmental Reporting" are not applicable.
Note 7 :
The closing balances of creditors and loans and advances are subject to
confirmation.
Note 8 :
Previous year figures have been regrouped/ rearranged wherever
considered necessary.
Mar 31, 2013
Note 1: Corporate Information
Addi Industries limited (the company) is a public limited company
incorporated in the year 1980 under the provisions of the Companies
Act, 1956. Its shares are listed on Bombay Stock Exchange in India. The
Company is engaged in the manufacturing and marketing of readymade
garments.
Note 2: Disclosure of Related parties/ Related parties transactions :
A. Name of the Related Parties and description of relationship
i) Wholly owned Subsidiary Company Aum Texffab Pvt. Ltd.
ii) Key Management Personnel Mr. C.L. Jain
Mrs. Urmila Jain Mr. Hari Bansal Mr. Abhishek Bansal
iii) Enterprises owned or substantially influenced by Ultimate
Investments LLP. key management personnel or their relatives
Note 3:
In view of the management, 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 as at
31.03.2013.
Note 4:
The company is in business of single product "ready garments".
Therefore, the requirements in context of the Accounting Standard - 17
Segmental Reporting" are not applicable.
Note 5 :
The closing balances of creditors and loans and advances are subject to
confirmation.
Note 6 :
Previous year figures have been regrouped/ rearranged wherever
considered necessary.
Mar 31, 2012
NOTE 1 : BASIS OF PREPARATION
The financial statements are prepared under the historical cost
convention on an accrual basis and in accordance with the Generally
Accepted Accounting Principles in India (Indian GAAP) The company has
prepared these financial statements to comply in all material respects
with accounting standards notified under the Companies (Accounting
Standard) Rules, 2006 and other relevant provisions of the Companies
Act, 1956 and guidelines issued by the Security Exchange Board of India
as adopted consistently by the Company
2 Estimated amount of contracts remaining to be executed on Capital
account (Net of advances) - Rs. Nil (Previous Year Rs Nil)
3 Contingent Liabilities
a) Claims against the company, not accepted and not provided for:
Rs. 7,742,020 towards Employees State Insurance (Previous Year Rs.
7,742,020)
b) Bills discounted with Bank outstanding Rs NIL (Previous Year Rs
2,087,796)
4 The Company has not received information from vendors regarding
their status under Micro, Small and Medium Enterprises Development Act,
2006 and hence disclosure relating to amounts unpaid as at the year end
together with interest paid/payable under this Act has not been given.
5 No provision for current tax has been made in view of brought
forward accumulated losses
b) Defined Benefit plans
The employee's gratuity fund scheme defined unfunded benefit plan. The
present value of obligation is determined based on actuarial valuation
using the projected unit credit method, which recognizes each period of
service as giving rise to additional unit of employees benefit
entitlement and measures each unit separately to built up the final
obligation. The obligation for leave encashment is a defined unfunded
benefit plan, which is recognized in the same manner as gratuity.
6 The company is in business of single product "ready
garments"Therefore, the requirements in context of the Accounting
Standard -17 Segmental Reporting" are not applicable.
General Description of Lease Terms
- Lease rental are charged on the basis of agreed terms.
- Assets are taken/given on lease over a period of 1 to 5 years
7 In view of the management, the current asssets, loans and advances
have a value on realisation in the ordinary course of buisness at least
equal to the amount at which they are stated in the balance sheet as at
31st March, 2012.
Mar 31, 2010
1. Estimated amount of contracts remaining to be executed on Capital
account (Net of advances) - Rs. Nil (Previous Year Rs Nil)
2. Contingent Liabilities
a) Claims against the company, not accepted and not provided for :
- Rs.7,742,020 towards Employees State Insurance (Previous Year
Rs.7,742,020)
- Rs.8,675,514 towards claim for recovery by the Franchisee (Previous
Year Rs.8,675,514)
b) Bills discounted with Bank outstanding Rs 1,527,325 (Previous Year
Rs. 4,964,863)
c) Trade tax Liability for Rs. 89,311 (Previous Year Rs. 89,311) under
Appeal with Trade Tax Tribunal.
3. The Company has not received information from vendors regarding
their status under Micro, Small and Medium Enterprises Development Act,
2006 and hence disclosure relating to amounts unpaid as at the year end
together with interest paid/ payable under this Act have not been
given.
4. No provision for current tax has been made in view of brought
forward accumulated losses.
Note: Managerial Remuneration to Directors does not include incremental
liability for gratuity unless paid/payable as per company rules.
5. The Computation of Managerial remuneration & Commission payable u/s
349 of the Companies Act has not been given since the remuneration paid
is as minimum remuneration.
Note: Keeping in view the principle of prudent as per Accounting
Standard - "22 - "Accounting for Taxes on Income", since there is no
virtual certainty of future profits to absorb the entire business
losses, the company has not recognized deferred tax assets on the
brought forward losses and unabsorbed depreciation.
Note: The other expenditures have been charged under the account head
"Legal and Professional Charges" and "Auditors Expenditures".
6. Disclosure of Related parties/ Related parties transactions :
A. Name of the Related Parties and description of relationship
i) Wholly owned Subsidary Company Aum Texfab Pvt. Ltd.
ii) Key Management Personnel Mr. C.L. Jain
Mrs. Urmila Jain
Mr. Hari Bansal
Mr. Abhishek Bansal
iii) Enterprises owned or
substantially influenced Ultimate Investments
Pvt. Ltd.
by key management personnel or
their relatives
iv) Enterprises owned or
siginificantly influenced M/s. Revaty R. Exports
by group of individual or their
relatives who have control or
significant influence over the
company.
Note : Figures in brackets represents corresponding amounts of previous
years.
b) Defined Benefit plans
The employees gratuity fund scheme defined unfunded benefit plan. The
present value of obligation is determined based on actuarial valuation
using the projected unit credit method, which recognizes each period of
service as giving rise to additional unit of employees benefit
entitlement and measures each unit separately to built up the final
obligation. The obligation for leave encashment is a defined unfunded
benefit plan, which is recognized in the same manner as gratuity.
Note : The estimate of rate of escalation in salary considered in
actuarial valution, taken into account inflation, seniority, promotion
and other relevant factors on long term basis including supply and
demand in the employment market.
7. Capacities, Production,Purchases, Turnover and Stocks
a) Licensed and Installed Capacities
As certified by the management as per the norms laid down by the
Central Government no licence is required for the class of goods
manufactured by the company and hence information pertaining to the
licensed is not given. The Compnay is of the view that the installed
capacity of its machinery in terms of measurable unit can not be
determined as it varies, based on the design/process of its range of
products hence installed capacity is not given.
Note: Figures in Brackets represent previous years figures.
Note: The above consumption are after reducing the sales of raw
material 17,188.30 kgs (P.Y. 27,870.29 kgs) at Rs. 1,615,233 (P.Y. Rs.
971,104).
8. The company is in business of single product "ready garments".
Therefore, the requirements in context of the Accounting Standard - 17
Segmental Reporting" are not applicable.
General Description of Lease Terms
- Lease rental are charged on the basis of agreed terms.
- Assets are taken/given on lease over a period of 1 to 5 years
9. In view of the management, the current asssets, loans and advances
have a value on realisation in the ordinary course of buisness at least
equal to the amount at which they are stated in the balance sheet as at
31st March, 2010.
10. Previous year figures have been regrouped/rearranged wherever
considered necessary.
Mar 31, 2009
1. Estimated amount of contracts remaining to be executed on Capital
account (Net of advances) - Rs. Nil (Previous Year Rs Nil)
2. Contingent Liabilities
a) Claims against the company, not accepted and not provided for :
- Rs.7,742,020 towards Employees State Insurance (Previous Year
Rs.7,742,020)
- Rs.8, 675,514 towards claim for recovery by the Franchisee (Previous
Year Rs.8,675,514)
b) Bills discounted with Bank outstanding Rs 4,964,863 (Previous Year
Rs. 4, 414,249)
c) Trade tax Liability for Rs. 89,311 (Previous Year Rs. 89,311) under
Appeal with Trade Tax Tribunal.
3. The Company has not received information from vendors regarding
their status under Micro, Small and Medium Enterprises Development Act,
2006 and hence disclosure relating to amounts unpaid as at the year end
together with interest paid/payable under this Act have not been given.
4. No provision for current tax has been made in view of brought
forward accumulated losses.
5. The Computation of Managerial remuneration & Commission payable u/s
349 of the Companies Act has not been given since the remuneration paid
is as minimum remuneration.
6. Disclosure of Related parties/ Related parties transactions :
A. Name of the Related Parties and description of relationship
i) Wholly owned Subsidary Company Aum Texffab Pvt. Ltd.
ii) Key Management Personnel Mr. C.L. Jain
Mrs. Urmila Jain
Mr. Hari Bansal
Mr. Abhishek Bansal
iii) Enterprises owned or
substantially influenced Ultimate Investments Pvt. Ltd.
by key management personnel or
their relatives
iv) Enterprises owned or
siginificantly influenced by M/s. Revaty R. Exports
group of individual or their
relatives who have control or
significant influence over the company.
b) Defined Benefit plans
The employeeÃs gratuity fund scheme defined unfunded benefit plan. The
present value of obligation is determined based on actuarial valuation
using the projected unit credit method, which recognizes each period of
service as giving rise to additional unit of employees benefit
entitlement and measures each unit separately to built up the final
obligation. The obligation for leave encashment is a defined unfunded
benefit plan, which is recognized in the same manner as gratuity.
7. Capacities, Production, Purchases, Turnover and Stocks a) Licensed
and Installed Capacities
As certified by the management as per the norms laid down by the
Central Government no licence is required for the class of goods
manufactured by the company and hence information pertaining to the
licensed is not given. The Compnay is of the view that the installed
capacity of its machinery in terms of measurable unit can not be
determined as it varies, based on the design/process of its range of
products hence installed capacity is not given.
8. The company is in business of single product Ãready garmentsÃ.
Therefore, the requirements in context of the Accounting Standard - 17
Segmental Reportingà are not applicable.
9. In view of the management, the current asssets, loans and advances
have a value on realisation in the ordinary course of buisness at least
equal to the amount at which they are stated in the balance sheet as at
31st March, 2009.
10. Previous year figures have been regrouped/rearranged wherever
considered necessary.
b) Bills discounted with Bank outstanding Rs 4,964,863 (Previous Year
Rs. 4, 414,249)
c) Trade tax Liability for Rs. 89,311 (Previous Year Rs. 89,311) under
Appeal with Trade Tax Tribunal.
11. The Company has not received information from vendors regarding
their status under Micro, Small and Medium Enterprises Development Act,
2006 and hence disclosure relating to amounts unpaid as at the year end
together with interest paid/payable under this Act have not been given.
12. No provision for current tax has been made in view of brought
forward accumulated losses.
13 The Computation of Managerial remuneration & Commission payable u/s
349 of the Companies Act has not been given since the remuneration paid
is as minimum remuneration.
14. Deferred Tax: As per the Accounting Standard 22 ÃAccounting for
Taxes on Incomeà issued by the Institute of Chartered Accountants of
India, the Company estimates the deferred Tax charge/(credit) using the
applicable rate of taxation based on the impact of timing differences
between financial statements and estimated taxable income for the
current year.
15 Disclosure of Related parties/ Related parties transactions :
A. Name of the Related Parties and description of relationship
i Key Management Personnel Mr. C.L. Jain
Mrs. Urmila Jain Mr. Hari Bansal Mr. Abhishek Bansal ii. Enterprises
owned or substantially influenced by Ultimate Investments Pvt. Ltd.
key management personnel or their relatives
III Enterprises owned or siginificantly
influenced by group M/S Revaty R. Exports
of individual or their relatives who have
control or significant influence over
the company.
16 Employee Benefits
a) Defined Constribution Plans
Contribution to Defined Contribution Plan, recognized as expemses for
the year are as under :
(Amount in Rs.)
2008-09 2007-08
Employerà Contribution to Provident
Fund/ Pension Fund 884,526 867,158
EmployerÃs Contribution to Employee
State Insurance 1,301,293 1,009,587
The contribution payable to these schemes by the Company are at the
rates specified in the rules of the schemes.
b) Defined Benefit plans
The employeeÃs gratuity fund scheme defined unfunded benefit plan. The
present value of obligation is determined based on actuarial valuation
using the projected unit credit method, which recognizes each period of
service as giving rise to additional
- Assets are taken/given on lease over a period of 1 to 5 years
17. In view of the management, the current asssets, loans and advances
have a value on realisation in the ordinary course of buisness at least
equal to the amount at which they are stated in the balance sheet as at
31st March, 2009.
18. Previous year figures have been regrouped/rearranged wherever
considered necessary.
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