Mar 31, 2013
1.1) With regard to loan given to Company, the Board of Directors are
of the opinion that, no provision for doubtful debt is required to be
made as the amount being recovered in installments 1.18)Earning per
share
The Company reports Earning Per Share (EPS) in accordance with
Accounting Standard 20 on "Earning Per Share". Basic EPS is computed by
dividing the net profit for the year by the weighted Average number of
Equity Shares outstanding during the year. Diluted EPS is computed by
dividing the net profit or loss for the year by the weighted average
number of equity shares outstanding during the year as adjusted for the
effects of all dilutive potential equity shares, except where the
results are anti-dilutive. 1.19)Provisions for Current and Deferred
Tax.
i) Provision for Current Tax is made after taking into consideration
benefits admissible under the provision of Income Tax Act 1961.
ii) Deferred tax resulting from timing differences between taxable and
accounting income is accounted for using the tax rate and laws that are
enacted or substantively enacted as on the Balance Sheet date. The
deferred tax asset arising on account of brought forward unabsorbed
depreciation is recognized only to the extent there is a reasonable
certainty of realization.
1.2) AS - 28 Impairment of Assets.
As on the Balance Sheet date the carrying amounts of the assets net of
accumulated depreciation is not less than the recoverable amount of
those assets. Hence there is no impairment loss on the assets of the
company.
In the opinion of Board of Directors, the Current Assets, Loans and
advances have a value which on the realization in the ordinary course
of business would at least be equal amount stated in the Balance
sheet.
Mar 31, 2012
A The figures of previous year have been regrouped wherever
necessary.
b As per the available records, there is no outstanding dues to
enterprises registered under Micro, Small and Medium Enterprises
Development Act, 2006, at the end of the year. Further, no interest has
been paid or payable on delayed payment of dues, if any, to such
enterprises during the year
c. Estimated amount of contracts remaining to be executed on capital
account and not provided for: Rs.Nil [ Previous Year: Rs. Nil]
d. Contingent Liabilities:
Bills Discounted and Purchased - Rs. Nil
(Previous Year Rs. Nil) Others - Rs. Nil (Previous Year Rs. Nil)
e. Segment Reporting
The Company is engaged in pharmaceutical formulation business which as
per Accounting Standard - AS 17 is considered the only reportable
business segment.
f Related party transaction
As required by Accounting Standard - AS 18 'Related Parties Disclosare
issued by the Institute of Chartered Accountants of India are as
follows :
(a) Key Management personnel (b) Details of Transactions.
(i) Dr. L. S. Mani. Remuneration paid Rs.8,40,500/-
Rent paid for the premise hired
Rs. 1,80,000/-
g. Earning per share
As per Accounting Standard - AS 20 on 'Earning per Share' issued by the
Institute of Chartered Accountants of India, the earning per share of
the Company is Rs. 0.24.
h. Accounting for Taxes on Income.
In accordance with the AS-22, Accounting for Taxes on Income, issued by
the Institute of Chartered Accountants of India, deferred tax resulting
from timing differences between book and tax profits is accounted for,
at the current rate of tax, to the extent the timing differences are
expected to crystallize. The deferred tax asset arising on account of
brought forward unabsorbed depreciation is recognized only to the
extent there is a reasonable certainty of realization.
i. AS - 28 Impairment of Assets.
As on the Balance Sheet date the carrying amounts of the assets net of
accumulated depreciation is not less than the recoverable amount of
those assets. Hence there is no impairment loss on the assets of the
company. In the opinion of Board of Directors, the Current Assets,
Loans and advances have a value which on the realization in the
ordinary course of business would at least be equal amount stated in
the Balance sheet. 1. With regard to loan given to Company, the Board
of Directors are of the opinion that no interest should be provided in
the accounts as the principle amount has not been recovered, Further,
no provision for doubtful debt is required to be made as the amount is
expected to be recovered in due course.
j. The Share Capital includes 4,00,000 Equity Shares of Rs. 10/- each,
allotted as fully paid Bonus Shares by capitalisation of Capital
Reserves in 1994-95.
k. Additional information pursuant to the provisions of paragraph 3,4C
and 4D of Part II of Schedule VI to the Companies Act, 1956, as
certified by the Directors.
Quantitative and Turnover information for the year ending 31st March,
2012.
(Previous year figures are regrouped wherever necessary
Mar 31, 2009
1 The figures of previous year have been regrouped wherever necessary
2 As per the available records, there is no outstanding dues to
enterprises registered under Micro, Small and Medium Enterprises
Development Act, 2006, at the end of the year Further, no interest has
been paid or payable on delayed payment of dues, if any, to such
enterprises during the year
3 Estimated amount of contracts remaining to be executed on capital
account and not provided for: RsNil Previous Year : Rs Nil
4 Contingent Liabilities:
Bills Discounted and Purchased - Rs Nil (Previous Year Rs Nil )
Others - Rs Nil (Previous Year Rs Nil )
5 Segment Reporting
The Company is engaged in pharmaceutical formulation business which as
per Accounting Standard - AS 17 is considered the only reportable
business segment
6 Related party transaction
As required by Accounting Standard - AS 18 Related Parties Disclosure
issued by the Institute of Chartered
Accountants of India are as follows :
(a) Key Management personnel (b) Details of Transactions
(i) Dr L S Mani Remuneration paid Rs6,14,500/-
Rent paid for the premise
hired Rs 1,14,000/- 10
Earning per share
As per Accounting Standard - AS 20 on Earning per Share issued by the
Institute of Chartered Accountants of India, the earning per share of
the Company is Rs002
7 Accounting for Taxes on Income
In accordance with the AS-22, Accounting for Taxes on Income, issued by
the Institute of Chartered Accountants of India, deferred tax resulting
from timing differences between book and tax profits is accounted for,
at, the current rate of tax, to the extent the timing differences are
expected to, crystallize The deferred tax asset arising on account of
brought forward unabsorbed depreciation is recognized only to the
extent there is a reasonable certainty of realization
8 AS - 28 Impairment of Assets
As on the Balance Sheet date the carrying amounts of the assets net of
accumulated depreciation is not less than the recoverable amount of
those assets Hence there is no impairment loss on the assets of the
company In the opinion of Board of Directors, the Current Assets, Loans
and advances have a value which on the realization in the ordinary
course of business would at least be equal amount stated in the Balance
sheet 13 With regard to loan given to Company, the Board of Directors
are of the opinion that no interest should be provided in the accounts
as the principle amount has not been recovered Further, no provision
for doubtful debt is required to be made as the amount is expected to
be recovered in due course
9 The Share Capital includes 4,00,000 Equity Shares of Rs 10/- each,
allotted as fully paid Bonus Shares by capitalisation of Capital
Reserves in 1994-95
10 Additional information pursuant to the provisions of paragraph 3, 4C
and 4D of Part II of Schedule VI to the Companies Act, 1956, as
certified by the Directors Quantitative and Turnover information for
the year ending 31st March, 2009
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