Mar 31, 2015
1 Corporate information:
ELF Trading & Chemicals Manufacturing Limited (the company) is a
Public Limited Company domiciled in India and incorporated under the
provisions of the Companies Act, 1956. The Company is engaged in the
business of Oil trading & Investments.
2 Contingent liabilities and As March 31, As March 31,
Commitments: 2015 (Rs) 2014 (Rs)
(to the extent not provided for)
a) Contingent Liabilities:
Claims against the Company not
acknowledged as
i) debts - -
ii) Guarantees - -
iii) Letters of credit - -
iv) Tax demands under disputes - -
Other monies for which company is contingently liable
The management believes, based on internal assessment and / or legal
advice, that the probability of an ultimate adverse decision and
outflow of resources of the Company is not probable and accordingly,
no provision for the same is considered necessary.
b) Commitments
i) Estimated amount of contracts remaining
to be executed on capital account and not
provided for (net of advances) - -
ii) Uncalled liability on shares and
investments partly paid - -
iii) Other Commitments (Specify nature) - -
c) Arrears of fixed cumulative dividends on preference shares
(including tax
thereon)
3 Segment Information
The Company has identified business segments as its primary segment.
Business segments are primarily Trading and Investments. Revenues and
expenses directly attributable to segments are reported under each
reportable segment Expenses which are not directly identifiable to
each reportable segment have been allocated on the basis of associated
revenues of the segment and manpower efforts. All other expenses which
are not attributable or allocable to segments have been disclosed as
unallocable expenses. Assets and liabilities that are directly
attributable or allocable to segments are disclosed under each
reportable segment. All other assets and liabilities are disclosed as
unallocable. Fixed assets that are used interchangeably amongst
segments are not allocated to primary and secondary
segments.
4 There are no Micro and Small enterprises, to whom the company owes
dues, which are outstanding for more than 45 days as at 31st March,
2015. This information as required to be disclosed under the Micro,
Small and Medium Enterprises Development Act, 2006 has been determined
to the extent such parties have been identified on the basis of
information available with the company.
5 Disclosure as per Clause 32 ofthe Listing Agreement entered into
with the Stock Exchange
There are no Loans and advances in the nature of loans given to
subsidiaries, associates,firms/companies in which directors are
interested,and to other parties where repayment schedule is not
specified and also there are no investment in shares of the company by
such parties.
6 Other Disclosures pertaining to Statement of Profit and Loss in
respect of Value of Imports calculated on CIF basis, expenditure in
foreign currency during the financial year, remittance in foreign
currency on account of dividends, earnings in foreign exchange is not
given as the same is not applicable.
7 Previous year's figures
Previous year's figures have been regrouped / reclassified / rearrange
wherever necessary to correspond with the current year's
classification / disclosure.
Mar 31, 2014
1 Corporate information:
ELF Trading & Chemicals Manufacturing Limited (the company) Is a Public
Limited Company domiciled in India and Incorporated under the
provisions of the Companies Act, 1956. The Company is engaged in the
business of Oil trading & Investments.
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. 10/- each 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 ensuing Annual General Meeting,
except in the case of interim dividend.
The Board of Directors at its meeting held on 27.05.2014 recognised as
Rs. 2/- (Rupees Two Only) per share as distribution to equity
shareholders subject to the approval at the ensuing Annual General
Meeting. If approved dividend for the financial year 2013-14 will be
Rs. 2/- per share (Previous year Rs. 2/-). The total Equity dividend
appropriation for the year ended 31st March, 2014 amounted to Rs.
4,38,029/- including corporate dividend tax of Rs. 63,629/-(Previous
year Rs. 4.38,029/- including corporate dividend tax Rs. 63,629/-)
In the event of the liquidation of the Company and in accordance with
the Companies Act 1956, the holders of equity shares will be entitled
to receive remaining asssets 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. Contingent liabilities and Commitments:
(to the extent not provided for)
a) Contingent Liabilities:
Claims against the Company not acknowledged as
i) debts - -
ii) Guarantees - -
iii) Letters of credit - -
iv) Tax demands under disputes - -
Other monies for which company is contingently liable
The management believes, based on Internal assessment and / or legal
advice, that the probability of an ultimate adverse decision and
outflow of resources of the Company is not probable and accordingly, no
provision for the same is considered necessary.
b) Commitments
i) Estimated amount of contracts remaining to be
executed on capital account and not provided for - -
(net of advances)
ii) Uncalled liability on shares and investments - -
partly paid
iii) Other Commitments (Specify nature) - -
c) Arrears of fixed cumulative dividends on preference shares
(including tax thereon)
4. Segment Information
The Company has identified business segments as its primary segment.
Business segments are primarily Trading and Investments. Revenues and
expenses directly attributable to segments are reported under each
reportable segment. Expenses which are not directly identifiable to
each reportable segment have been allocated on the basis of associated
revenues of the segment and manpower efforts. All other expenses which
are not attributable or allocable to segments have been disclosed as
unallocable expenses. Assets and liabilities that are directly
attributable or allocable to segments are disclosed under each
reportable segment. All other assets and liabilities are disclosed as
unallocable. Fixed assets that are used interchangeably amongst
segments are not allocated to primary and secondary segments.
5. Related party transactions Details of related parties:
Key Management Personnel (KMP)
6. There are no Micro and Small enterprises, to whom the company owes
dues, which are outstanding for more than 45 days as at 31st March,
2014. This information as required to be disclosed under the Micro,
Small and Medium Enterprises Development Act, 2006 has been determined
to the extent such parties have been identified on the basis of
information available with the company.
7. Disclosure as per Clause 32 of the Listing Agreement entered into
with the Stock Exchange
There are no Loans and advances in the nature of loans given to
subsidiaries, associates,firms/companies in which directors are
interested,and to other parties where repayment schedule is not
specified and also there are no investment in shares of the company by
such parties.
8. Other Disclosures pertaining to Statement of Profit and Loss in
respect of Value of Imports calculated on CIF basis, expenditure in
foreign currency during the financial year, remittance in foreign
currency on account of dividends, earnings in foreign exchange is not
given as the same is not applicable.
9. Previous year's figures
Previous year's figures have been regrouped / reclassified / rearrange
wherever necessary to correspond with the current year's classification
/ disclosure.
Mar 31, 2013
1 Corporate information:
ELF Trsding & Chemicals Manufacturing Limited (the company] is a Public
Limited Company domiciled in India and Incorporated under the
provisions of the Companies Act, 1956. The Company is enR&ged in the
business of Oil trading & Investments.
2 Segment Information
The Company has Identified business segments as its primary segment.
Business segments are primarily Trading srvd Investments. Revenues anc
expenses dlrectty attributable to segments are reported under each
reportable segment. Expenses which are not directly identifiable to
each reportable segment have been allocated on the basis of associated
revenues of the segment and manpower effo.ts. All other expenses which
are not attributable or allocable to seements have been disclosed as
unallocable expenses. Assets and liabilities that are directly
attributable or allocable to segmenis are disclosed under each
reportable segment. All other assets and liabilities are disclosed as
unallocable. Fixed assets that are used Interchangeably amonest
segments are not allocated to primary and secondary segments.
" There are no Micro and Small enterprises, to *hom the company 0WeS An
which are outstanding (or more than 4SB3VS  at 31° Maich. »R This
information u required to be disdosed under the Micro, Small nd Medium
Enterprise Development Act. 2006 has been determined to the extent such
parties have been identified on the basis of inform align available
with the company.
3 Disclosure as per Clause 31 of the Listing Agreement entered Into
with the Stock Exchange
There are no Loaris and advances in the nature of lopns given to
subsidiaries, associates,firms/companies in which directors are
lnterested,and to other parties where repayment schedule is not
specified and also there are no investment In shares of the company by
such parties.
4 other Disclosures pertaining to Statement of Profit and Loss in
respect of Value of Imports calculated on CIF basis, expenditure in
foreign currency during the financial year, remittance In foreign
currency on account of dividends, earnings in foreign exchange is not
given as the same is not applicable.
5 Previous year''s figures
Previous year''s figures have been regrouped / reclassified / rearrange
wherever necessary to correspond with the current year''s classification
Disclosure.
Mar 31, 2012
1 Corporate information:
ELF Trading & Chemicals Manufacturing Limited (the company) is a Public
Limited Company domiciled in India and incorporated under the
provisions of the Companies Act, 1956. The Company is engaged in the
business of Oil trading & Investments.
a) Terms, rights and redemption attached to Preference Shares
The Company had only one class of Preference shares having a par value
of Rs 10/- per share. The said shares carries an annual dividend ofRs
0.80 per share and were non cumulative in nature. The Company declares
and pays dividend in indian rupees. The dividend proposed by the Board
of directors is subject to the approval of the shareholders in the
ensuing Annual General Meeting. The said shares are redeemable at par
after a period of 1 year from the date of allotment after giving 30
days notice in writing but not later than a period of 7 years.
During the year the entire preference share capital was redeemed at par
and proportionate dividend recognised as distribution to preference
share holders Rs 0.60 (Previous year 10.80)
Each holder of preference shares is entiled to vote per share only on
resolutions placed before the company which directly affects the rights
attached to it.
In the event of the liquidation of the Company and in accordance with
the Companies Act 1956, the holders of equity shares will be entitiled
to receive remaining asssets 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._
Particulars As at March, As at March,
31, 2012 31, 2011
Rs Rs
Contingent liabilities and Commitments:
(to the extent not provided for)
a) Contingent Liabilities:
Claims against the Company not
acknowledged as
i) debts - -
ii) Guarantees - -
iii) Letters of credit - -
iv) Tax demands under disputes - 409500
Other monies for which company is
contingently liable
The management believes, based on internal
assessment and / or legal advice, that the
probability of an ultimate adverse decision
and outflow of resources of the Company is
not probable and accordingly, no provision
for the same is considered necessary.
b) Commitments
i) Estimated amount of contracts remaining
to be executed on capital account and not
provided for (net of advances) - -
ii) Uncalled liability on shares and
investments partly paid - -
iii) Other Commitments (Specify nature) - -
c) Arrears of fixed cumulative dividends
on preference shares(including tax thereon)
02 Segment Information
The Company has identified business segments as its primary segment.
Business segments are primarily Trading and Investments. Revenues and
expenses directly attributable to segments are reported under each
reportable segment. Expenses which are not directly identifiable to
each reportable segment have been allocated on the basis of associated
revenues of the segment and manpower efforts. All other expenses which
are not attributable or allocable to segments have been disclosed as
unallocable expenses. Assets and liabilities that are directly
attributable or allocable to segments are disclosed under each
reportable segment. All other assets and liabilities are disclosed as
unallocable. Fixed assets that are used interchangeably amongst
segments are not allocated to primary and secondary segments.
There are no Micro and Small enterprises, to whom the company owes
dues, which are outstanding for more than 45 days as at 3lst March,
2012.
This information as required to be disclosed under the Micro, Small and
Medium Enterprises Development Act, 2006 has been determined to the
extent such parties have been identified on the basis of information
available with the company.
03 Disclosure as per Clause 32 of the Listing Agreement entered into
with the Stock Exchange
There are no Loans and advances in the nature of loans given to
subsidiaries, associates, firms/companies in which directors are
interested, and to other parties where repayment schedule is not
specified and also there are no investment in shares of the company by
such parties.
04 Other Disclosures pertaining to Statement of Profit and Loss in
respect of Value of Imports calculated on CIF basis, expenditure in
foreign currency . during the financial year, remittance in foreign
currency on account of dividends, earnings in foreign exchange is not
given as the same is not applicable.
05 Previous year's figures
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 / rearrange
wherever necessary to correspond with the current year's classification
/ disclosure.
Mar 31, 2011
1. The following companies namely;
- Asian Paints Limited
- Resins And Plastics Limited
- Pragati Chemicals Limited
are no longer considered as companies under the same management /
group, based on the written opinion received from the Company's
Solicitors in respect of Section 45 IA of Reserve Bank of India Act,
1945.
2. Previous year figures have been regrouped and/or rearranged and/or
reclassified wherever necessary to make them comparable with the
figures of the current year.
3. Figures of the previous year rounded off to the nearest rupee.
4. On the conservative basis the management does not recognise
deferred tax assets but only deferred tax liabilities arising out of
timing differences as stated in Accounting Standards - AS 22 relating
to "Accounting for Taxes on Income" issued by Institute of Chartered
Accountants of India.
5. There are no Micro and Small enterprises, to whom the company owes
dues, which are outstanding for more than 45 days as at 31st March,
2011. This information as required to be disclosed under the Micro,
Small and Medium Enterprises Development Act, 2006 has been determined
to the extent such parties have been identified on the basis of
information available with the company.
6. Other information as required by schedule VI, Part II, of the
Companies Act, 1956, pertaining to employees, imports, exports,
expenditure in foreign currencies, amounts remitted in foreign
currencies and earning in foreign exchange are not given as the same
are not applicable.
7. As per Accounting standard - 18 on Related Party Disclosures the
disclosures of transactions with related party as defined in the
Accounting Standard is given below. Transactions between the company
and its promoters, management personnel or other related parties are as
reported by the management.
The related parties where control exists or where significant influence
exists of the Company are as under:
Controlling Companies:
NIL
Associate Companies:
Satyadharma Investments And Trading Co. Pvt. Ltd.
Sudhanva Investments And Trading Co. Pvt. Ltd.
Jaldhar Investments And Trading Co. Pvt. Ltd.
Centaurus Trading And Investments Pvt. Ltd.
Tru Trading And Investments Pvt. Ltd.
Doli Trading And Investments Pvt. Ltd.
Castle Investment And Industries Pvt. Ltd.
Rupen Investment And Industries Pvt. Ltd.
Lyon Investment And Industries Pvt. Ltd.
Ricinash Oil Mill Ltd.
A R Intertect Design Pvt. Ltd.
Navbharat Packaging Industries Ltd.
a) Key management personnel:
Name of the Director Designation
Ashish A Choksi Director
Mahendra C. Choksi Director
Shailesh C. Choksi Director
b) Relatives of Key management personnel: NIL
8. Balance due from Subsidiary Company: NIL
9. Segment Reporting:
The Company has disclosed Trading of Oil as the primary business
segment. The Company's operation predominantly relate to trading of
Commercial Castor Oil and Soya Oil. The Company caters to the needs of
the Domestic market. Other business segment reported is Investments in
shares and securities. There are no reportable geographical segments.
Segment Revenue, Segment Result, Segment Assets and and Segment
Liabilities include the respective amounts identifiable to each of the
segments as also amounts allocated on a reasonable basis. The expenses,
which are not directly attributable to the business segment, are shown
as unallocated corporate cost. Assets and Liabilities that cannot be
allocated between the segments are shown as a part of unallocated
corporate assets and liabilities respectively.
Mar 31, 2010
1. The following companies namely;
- Asian Paints Limited
- Resins & Plastics Limited
- Pragati Chemicals Limited
are no longer considered as companies under the same management /
group, based on the written opinion received from the Companys
Solicitors in respect of Section 45 IA of Reserve Bank of India Act,
1945.
2. Previous year figures have been regrouped and/or rearranged and/or
reclassified wherever necessary to make them comparable with the
figures of the current year. Figures of previous year are not
comparable with current years figures due to merger with M/s. Jatayu
Investments Limited.
3. Figures of the previous year rounded off to the nearest rupee.
4. On the conservative basis the management does not recognise
deferred tax assets but only deferred tax liabilities arising out of
timing differences as stated in Accounting Standards - AS 22 relating
to "Accounting for Taxes on Income" issued by Institute of Chartered
Accountants of India.
5. Quantitative Information:
6. There are no Micro and Small enterprises, to whom the company owes
dues, which are outstanding for more than 45 days as at 31st March,
2010. This information as required to be disclosed under the Micro,
Small and Medium Enterprises Development Act, 2006 has been determined
to the extent such parties have been identified on the basis of
information available with the company.
7. Regular assessments have been completed up to the A.Y.2006-2007 and
the Company is assessed as per return of income filed by it. The
Company is in appeal the details of which are as under:
8. Other information as required by schedule VI, Part II, of the
Companies Act, 1956, pertaining to employees, imports, exports,
expenditure in foreign currencies, amounts remitted in foreign
currencies and earning in foreign exchange are not given as the same
are not applicable.
9. As per Accounting standard à 18 on Related Party Disclosures the
disclosures of transactions with related party as defined in the
Accounting Standard is given below. Transactions between the company
and its promoters, management personnel or other related parties are as
reported by the management.
The related parties where control exists or where significant influence
exists of the Company are as under:
Associate Companies:
Satyadharma Investments & Trading Co. Pvt. Ltd. Sudhanva Investments &
Trading Co. Pvt. Ltd. Jaldhar Investments & Trading Co. Pvt. Ltd.
Centaurus Trading & Investments Pvt. Ltd. Tru Trading & Investments
Pvt. Ltd. Doli Trading & Investments Pvt. Ltd. Castle Investment &
Industries Pvt. Ltd. Rupen Investment & Industries Pvt. Ltd. Lyon
Investment & Industries Pvt. Ltd. Ricinash Oil Mill Ltd. A R Intertect
Design Pvt. Ltd. Navbharat Packaging Industries Ltd.
a) Key management personnel:
Name of the Director Designation
Ashish A Choksi Director
Mahendra C. Choksi Director
Shailesh C. Choksi Director
b) Relatives of Key management personnel: Auditors
Kamlesh T. Mody Proprietor
Information on related party transactions as required by Accounting
Standard -
10. Balance due from Subsidiary Company:
11. Earning per share:
12. Segment Reporting:
The Company has disclosed Trading of Oil as the primary business
segment. The Companys operation predominantly relate to trading of
Commercial Castor Oil and Soya Oil. The Company caters to the needs of
the Domestic market. Other business segment reported is Investments in
shares and securities. There are no reportable geographical segments.
Segment Revenue, Segment Result, Segment Assets and and Segment
Liabilities include the respective amounts identifiable to each of the
segments as also amounts allocated on a reasonable basis. The expenses,
which are not directly attributable to the business segment, are shown
as unallocated corporate cost. Assets and Liabilities that cannot be
allocated between the segments are shown as a part of unallocated
corporate assets and liabilities respectively.