Mar 31, 2015
1.1 The Company has issued 33,00,000 fully paid bonus Equity shares to
existing shares holder at the radon 6:1 on 24/06/2013.
1.2 The Company has allotted 2665333 fully paid Equity shares to
promoters at a premium at Rs. 5/ per shares on 24/C6/2C13 pursuant to
preferential allotment basis.
1.3 The company has allotted 4968000 fully paid Enquiry shares to
public at a premium of Ra.5/ per share on 24/01/2014, pursuant to
initial public offer[IPO].
1.4 Terms/rights attached to shares
The company has only one class cf equity shares having a par value of
Rs. 1.0/- per share. Each folder of equity spares is entitle to one
vote per share. The company declares and pays dividends ire_ Indian
rupees. The dividend proposed by Beard of Directors is subject to the
approval of the shareholders in the ensuing Annual General Meeting. In
the event of liquidate of the company, the holders Of equity share
well! be entitled to receive refraining Essen; of the company, toe
distribution will be is proportion to the number of equity shares he'd
by the santé holders.
1.5 During the FY 2013-14, the Company Via, Issues 3,300,000 fully
pair, up Bonus equity snares to the Existing Equity shares holder fat
the 6;1 by utilizing Security premium and balance available in the
Profit and Loss account.
Notes on Financial Statements as at and for the get ended 31st Starch
2015 Securities and Terms of Borrowings Tor secured Term Loans
1.6 Car Loans are secured by hypothecation of Major Cars.
1.7 Car Loans from kotak Mahindra amounting to Ni. (P.Y.
Rs.4,24,966/-) repayable in &9 monthly instruments (including interest;
of Rs. 55,160/- per month commencing from 10/01/2010 East installment
cue in November 2014 has been repaid during the Period. The rate of
interest is 10% per annum Fixed.
1.8 Car Loan from Tata Motors Finance Ltd amounting to Nil {P.Y.
47,101/-) repayable in 3i monthly installments (including interest) of
Rs. 16,050/- per month commencing from 02/08/3011 last installment due
in June 30-4 has been repaid during the period. The rate ol interest is
13.30% per annum Fixed.
1.9 Term Loan from Induced Bank is secured by way of:
(i) Primary Security
First and exclusive charge on land & building, Plant & Machinery, all
movable & immovable assets [both present & future:-, factor/ at Kta&Ia
Road, Survey Gut No. 37, Village VadvaB, Tah Wadn, Dist, Thane, pin
421312 owned by the Company.
[ii) Common Connatural Security
[a] hypothecator on movable fixed assets of the company both present &
future except ether assets exclusively included by other banks.
[b] margage on office 105, Hiran. indnr Industrial estate, Opp Kanjur
Marg station, Kaniurmarg W Mumbai 400078 owned by M/s. Badkur Blew Plat
Containers pvt. Ltd.
[c] Industrial Gala 12,13,14,10, and 42 at Nirmal Ashish industrial
estate, Plot of land bearing Nos. 135 Asaugaan owned by the company.
(d) Industrial Gala 43, and 44 at Niral Ashish Industrial estate, Plot
of lane. bearing Nos. 135 [upto & 166A/l(pl), Asangaaan owned by the
Chemtech instrumentations services Pvt Ltd.
[e) Personnel Guarantee of Mr, Ignaticus C. Divid, Mr.Jimmi legnations
Mr.Pradeep H. Budkur, Mr.Harsh Budkur and Mrs, Namr£ta Badkur Director/
Promters/Shareholders of the company.
2.1 Term loan from EDELWEISS Finance& Investments Ltd [174] is secured
by way of hypothecation of flat C- 201/A and 201D 2nd floor OWing laks
Castle Cliff Avenue Road Hirandani Garden Lake Vihar Road Mumbai -
400076 owned by the directors pradeep Badkur and Namarat Badkur.
Term Loan from EDELWEISS Finance & Investment ltd amounting to
3,33,33,333/- [P.Y. 4,07,40,741/-] repayable in 160 monthly
installments of [ including interner ] of Rs, 3,79,058/per month
commenting from 01/01/2313 last installment due in September 2019 i.e.
115 installments from the close of this financial period. The rate
interest is 12.60% per annum floating as at the end of the year.
2.2 Term loan from capital first Home Loan [273] is secured by way of
hypothecation of flat no. 1701, 17th floor, Iris Bidg, Sec R/12, Nahar
Amrit shakti complex, chandivali, Andheri
Term loan from EDELWEISS Finance & Investments ltd amounting to
2,54,34,332/-
Mar 31, 2014
1 The Company has issued 33,00,000 fully paid bonus Equity shares to
existing shares holder at the ration 6; I on 24/06/2013.
2 The Company has alloted 2669333 fully paid Equity shares to
promoters at a premium of Rs. 5/- per share on 24/06/2013 pursuant to
preferential allotment basis.
3 The Company has alloted 4968000 fully paid Equity shares to public
at a premium of Rs, 5/- per share on 27/01/2014, pursuant to Initial
Public Offer (IPO).
4 Terms/rights attached to shares
The company has only one class of equity shares having a par value of
Rs, 10/- per share, Each holder of equity shares is entitled to one
vote per share. The company declares and pays dividends in Indian
rupees. The dividend proposed by Board of Directors is subject to the
approval of the shareholders in the ensuing 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, the
distribution will be in proportion to the number of equity shares held
by the shareholders.
5 Car Loan from HDFC Bank amounting to Mil (P.Y. Rs 2,20,360/-)
repayable in 36 monthly installments (including interest) of Rs.
28,675/- per month commencing from 05/12/2010 last installment due in
december 2013 has been repaid during the Period. The rate of interest
is 10.62% per annum fixed.
6 Car Loans from Kotak Mahindra amounting to 4,24,966/- {P.Y. Rs.
10,11,104/-) repayable in 59 monthly installments (including interest)
of Rs. 55,160/-per month commencing from 10/01/2010 last installment
due in November 2014 Le. 8 installments from the close of this
financial period. The rate of interest is 10% per annum fixed.
7 Car Loan from Tata Motors Finance Ltd amounting to 47,101/- (P.Y,
2,20,739/-) repayable in 35 monthly installments (including interest)
of Rs. 16,050/- per month commencing from 02/08/2011 Iast installment
due in June 2014 i.e. 3 installments from the close of this financial
period. The rate of interest is 13,30% per annum fixed.
8 Term. Loan from EDELWEISS Finance & Investments ltd (174) is
secured by way of hypothecation of flat C-201/A and 20 IB 2nd Floor
C-Wing Lake Castle Cliff Avenue Road Hiraoadani Garden Lake Vihar Road
Mumbai - 400076 owned by the directors Pradeep Badkur and Namarata
Budkur.
Term Loan from EDELWEISS Finance & Investments ltd amounting to
2,64,72,919/- (P.Y. 2,76,07,129/-) repayable in 160 monthly
installments (including interest) of Rs. 3,79,058/- per month
commencing from 05/07/2011 last installment due in October 2024 i.e.
127 installments from the close of this financial period. The rate of
interest is 12.60% per annum floating as at the end of the year.
9 Term Loan from Barclays Investments & Ioans(I) Ltd is secured by
way of hypothecation of Flat No. 606 6th. Floor A- Wing Dhaivet
Building Balraishewar Road Kalp Nagari Mulund (West) Mumbai - 400080
owned by director Mr. lgnatious C David.
Term Loan from Barclays Investments & Loans(I) Ltd amounting to Rs, Nil
(P.Y. 52,13,777/-) repayable in 175 monthly installments (including
interest) of Rs, 67,258/- per month commencing from 03/06/2011 last
installment due in October 2024 has been prematurly repaid during the
period.
9 Term Loan from Indusld Bank is secured by way of :
(i) Primary Security
First and exclusive charge on land & building, Plant & Machinery, all
movable & immovable assets- (both present & future), factory at Kandala
Road. Survey Gut No. 37, Village Vadvalj, Tah Wada, Dist Thane, Pin-
421312 owned by the. Company.
(ii) Common Collateral Security
(a) hypothecation on movable flxd assets of the company both, present &
future except other assets exclusively financed by other banks,
(b) mortgage on office 105, Hiranandani Industrial estate, Opp Kanjur
Marg station, Kanjurmarg W Mumbai 400078 owned by M/s. Badkur Blow Hast
Containers Pvt. Ltd,
(c) Industrial Gala 12,13,14,16, and 42 at Nirmal Ashish Industrial
estate, Plot of land bearingNos. 135 (pto & 166A/l(pl), Asangoan owned
by the company,
(d) Industrial Gala 43, and 44 at. Nirmal Ashish Industrial estate,
Plot of land bearingNos. 135 (ptO & 166A/1 (pi), Asangoan owned by the
Chemtech instrumentations services Pvt Ltd.
(e) Personal Guarantee of Mr. Ignatious C. David, Mr.Jimmi Ignatious,
Mr.Pradeep S, Badkur, Mr.Harsh Badkur and Mrs. Namrata Badkur
Director/Promoters/Shareholders of the company
Term Loan from Indusld Bank ..amounting to 4,07,40,741/- (P.Y.
4,81,48,148/-) repayable in 81 monthly installments of Rs. 6,17,284/-
per month commencing from 01/01/2013 last installment due in September
2019 i.e. 66 installments from the dose of this financial period, The
rate of interest is (bank base rate 2,75%) per annum floating as at the
end of the year.
10 Term Loan from Capital First Home Loan (273) is secured by way of
hypothecation of Flat No. 1701, 17th floor, Iris Bldg, Sec R/12, Nahar
Amrit Shakti Complex, Chandivali, Andheri (east) Mumbai 400072 owned by
Harsh Badkur director of the Company.
Term Loan from Capital First Home Loan (273) amounting to Rs.
47,86,427/- (P.Y. 49,00,000/-) repayable in 180 monthly installments
(including interest) of Rs.6l ,997/ - per month commencing from
05/04/2013 last installment due in March 2028 i.e. 168 installments
from the close of this financial period. The rate of interest is 13%
per annum floating as at the end, of the
year.
11 Term Loan from Capital First Home Loan (274) is secured by way of
hypothecation of Flat No, 1701, 17th floor, Iris Bldg. Sec R/12, Nahar
Amrit Shakti Complex, Chandivali, Andheri (east) Mumbai 40007.2 owned
by Harsh Badkur director of the Company.
Term Loan from Capital First Home Loan (273) amounting to Rs. 88,36,941
/- (P.Y. 90,80,902) repayable in 180 monthly installments (including
interest) of Rs.1,06,306/- per month commencing from 05/03/2013 last
installment due in February 2028 be, 1.67 installments from the close
of this financial period, The rate of interest is 13% per annum
floating as at the end of the year.
13 Term Loan from INDIABULLS HOUSING FINANCE LIMITED is secured by
way of hypothecation of Flat No. 606, 6th floor , A WING, DHAIVAT, BAL
RAJESKWAR, KALPA NAGAR, MULUN.D (WEST), Mumbai 400080 owned by
Mr.IGNATIOUS INASU director of the Company.
Term Loan from INDIABULLS HOUSING FINANCE LIMITED amounting to Rs.
96,51,855/- (P.Y. NIL) repayable in 180 monthly installments (including
interest) of Rs.1,23,994/- per month commencing from 05/08/2013 last
installment due in July 2028 i.e. 172 installments from the close of
this financial period. The rate of interest is 13% per annum floating
as at the end of the year.
13 Term Loan from MONEY MATTER FINANCIAL SERVICES LTD is secured by
way of hypothecation of Office No, 503, 5th floor. Sunrise Business
Park, Quantum IT Park, Plot No. B-68, Road No. 16, W&gle. Industrial
Estate, Thanc (W) 400604 owned by Company,
Term Loan from MONEY MATTER FINANCIAL SERVICES LTD amounting to Rs.
2,12,24,254/- (P.Y. NIL) repayable in 120 monthly installments
(including interest) of Rs.3,31,736/- per month commencing from
15/07/2013 last installment due in June 2023 i.e. Ill installments from
the close of this financial period, The rate of interest is 13.25% per
annum floating as at the end of the year.
Terms of Borrowings in Unsecured Term Loans
14 Term Loan from Barclays Investments Loans(l) Ltd amounting to Nil
(P.Y.8,17,173/-) repayable in. 36 monthly installments (including
interest) of Rs. 1,23,050/- per month commencing from 03/10/2010 last
installment due in October 2013 has been repaid during the period. The
rate of interest is 15.70% per annum Fixed.
15 Term Loan from MAGMA FINCORP LIMITED(1) amounting to Nil
(P.Y.5,83,705/-) repayable in 36 monthly installments (including
interest) of Rs. 87,893/- per month commencing from 07/11/2010 last
installment due in October 2013 has been repaid during the period, The
rate of interest is 16% per annum fixed.
16 Term Loan from MAGMA FINCORF LIMITED(2) amounting to 10,54,8I5/-
(P.Y 16,61,634/-) repayable in 36 monthly installments (including
interest) of Rs, 71,33.5/- per month commencing from 07/10/2012 last
installment due in September 2015 i.e, 18 installments from the close
of this financial period. The rate of interest is 17.03% per annum
fixed.
17 Term Loan from TATA CAPITAL LIMITED amounting to Nil
(P.Y.6,68.606/-) repayable in 36 monthly installments (including
interest) of Rs, 87,890/- per month commencing from 03/10/2010 last
installment due in November 2013 has been repaid during the period. The
rate of interest is 16.30% per annum fixed.
18 Term Loan from TATA CAPITAL FINANCIAL SERVICES LIMITED amounting
to 5,17,761/- (P.Y. 16,14,662/-) repayable in 24 monthly installments
(including interest) of Rs. 108,245/- per month commencing from
30/08/20.12 last installment due in August 2014 i.e.5 installments from
the dose of this financial period. The rate of interest is 16,50% per
annum fixed.
Long Terms Borrowings In Inter Corporate Deposits
19 Inter Corporate Deposits in previouse year from. 2 parries which
are repayable after 12 months from the date of balance sheet as per
agreed schedule of repayment and loans to both parries did not cany any
interest
20. Contingent Liability :
Particulars As on As on
31/03/2014 31/03/2013
Counter guarantee given by Banks 32,70,344/- 28,54,727/-
Central Sales Tax Dues 56,39,625/- _
Total 89,09,969/- 28,54,727/-
21. Other commitments:
Estimated amount of contract remaining to be executed for:
a. New furniture for Thane office is Rs.3,00,246/- (P.Y. 85,78,000).
{Net of payment and bills booking made of Rs.3,10,477/-(P.Y.
Rs.7,67,000/-}
b. ERP software is 2,62,000/- (P.Y. 3,24,000) {Net of running bill
issued by the party Rs. 3,53,000/-(P.Y.Rs.2,91,000/-)}
c. New Plant & Machinery is Rs.2,96,55,704/- (P.Y. Nil). {Net of
payment and bills booking made of Rs.25,00,000/-(P.Y. Nil}
22. The balance confirmation in respect of debtors, creditors,
advances, loans and deposits as at 31sl March 2014 have been called for
and the same are subject to confirmation and reconciliation if any.
However, the management has scrutinized the accounts and the balances
appearing in the balance sheet are correct.
23. In the opinion of management, no item of current assets, loans and
advances has a value on realization in the ordinary course of business,
which is less than the amount of value at which it is stated in the
balance sheet, unless otherwise specified.
24. Secondary Segment
The trading activity constitutes the export of goods outside India and
therefore the primary segment and the secondary segments are the same.
Besides the Company has exported manufacture goods of Rs.25,26,302/-
(P.Y. Rs. 7,15,005/-) which is significantly low vis-a-vis the total
enterprise revenue. Therefore there is no reportable secondary segment
in respect of geographical segment.
25. Related party Transaction as per Accounting Standard I8:
Related party disclosures as required by Accounting Standard 18,"
Related party disclosures" are given below:
Relationships
A. Key Management Personnel :
i. Pradeep Badkur
ii. C.D, Ignatious
iii. Harsh Badkur
iv. Namrata Badkur
B. Relative of Key Management personnel
i. Puneet Badkur
ii. Orville Ignatious
iii. Jimmy Ignatious
iv. Jenni Ignatious
C. Enterprise on which major Shareholders Exercises Significant
Influence:
1) Chemtech Instrumentation Services Private Limited
ii) Venus Engineers
iii) Neeldeep Properties Pvt. Ltd.
iv) Navdarshi Properties Pvt. Ltd.
v) Panama Properties Property Pvt. Ltd.
vi) Parshwajit Property Pvt. Ltd.
vii) Badkur Blowplast Container Pvt Ltd
viii) Badkur Polycon Industries
ix) Chemtech Infosolution Pvt. Ltd.
x) Maxxon Industries
xi) Mobile Plastic
26. Expenditure in Foreign Currency :
Value of goods Purchase is Rs. 18,23,67,880/- { P.Y, 9,82,21,684/-}
Expenditure incurred Rs.7,92,459/- ( P,Y. Nil)
F) Earning in Foreign currency in FOB basis is Rs.19,74,71,913/- (P.Y,
Rs. 10,13,35,735/-)
27. Figures of previous year are regrouped and reclassified as and when
necessary.
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