Mar 31, 2015
Note : 1
Term loan from Apna Sahakari Bank Ltd. Aggregating to Rs.
1,43,71,083/- is secured by
(a) Personal guarantee of the two Directors of the Company
(b) Pledge of Rs. 62,50,000/- of Fixed deposit of Third Party with Bank
(c) Shares of Rs. 25000/- of Apna Sahakari Bank Ltd.
(d) Primary Security : First Charge on Plant & Machinery of the Company
(e) Collateral Security : Hypothecation of new Machine procured in
future
Note : 2
Cash Credit from Apna Sahakari Bank Ltd. Aggregating to Rs.
11,45,238/- @ 13.50%, is secured by:
(a) Personal guarantee of the two Directors of the Company
(b) Pledge of Rs. 12,50,000/- of Fixed deposit of Third Party with Bank
(c) Primary Security : First Charge on Plant & Machinery of the Company
(d) Collateral Security : Hypothecation of all Stocks of the Company
Note : 3
The disclosures of employee Benefits as defined in Accounting
Standard AS-15 are given below:
Defined Contribution Plan :
Contribution to defined contribution plan recognised as expenses for
the year is as under:
Employers contribution to Provident Fund Rs 11,13,882/- (Previous Year
Rs. 10,56,665/-)
Defined Benefit Plan :
The employees Gratuity Fund Scheme managed by a Trust is a defined
benefit plan. The present value of obligation is determined based on
acturial valuation. The obligation for Leave encashment is recognised
in the same manner as Gratuity.
Note : 4
Foreign Currency exposure that are not hedged by Derivative
instruments or forward contracts as at March, 31, 2015 amount to Rs.
5,21,20,943/- (Previous Year Rs. 5,60,18,082/-)
Note : 5
Segment Information
The Company has only one primary segment viz: "Printed Circuit Board".
The Company has only one major secondary segment viz : Exports out of
India. Hence no additional disclosure is required under Accounting
Standard AS-17.
Note : 6
The net amount of foreign exchange difference Debited to Profit &
Loss Accounts is Rs. 69,578/- (Previous Year Rs. 32,51,967/-Credited.)
Note : 7
Contingent Liabilities :
In respect of :
(i) Bonds executed in favour of
President of India in respect
of Custom Duty on Import of
Machinery and Raw Materials 28,89,18,000 22,05,82,000
(ii) Estimated amount of contracts
remaining to be executed on
capital account and not
provided for (Net of Advances) NIL NIL
Note : 8
Related Party Disclosures: (As certified by the management)
a. Key Management Personnel:
a - Key Management Personnel Relationship
1. Shri. B. T Doshi Executive Chairman
2. Shri. A. B. Doshi Managing Director
3. Shri. R. B. Doshi Executive Director
b - Parties where control exists
1. Kapurwala Properties Pvt. Ltd.
2. Shri. Gautam B. Doshi Director
Note : 9
Pursuant to the enactment of Companies Act, 2013, the Company has
applied the estimated useful lives as specified in Schedule II.
Accordingly the unamortised carrying value is being depreciated/
amortised over the revised / remaining useful lives. The written down
value of Fixed Assets whose lives have expired as at 1st April 2014
have been adjusted net of tax, in the opening balance of Profit and
Loss Account amounting to Rs. 4,26,415/-
Note : 10
Previous year's figures have been regrouped / rearranged / recast
wherever necessary.
Mar 31, 2012
@ The Company has not received information from the vendors regarding
their status under Micro, Small and Medium Enterprises Development Act,
2006 and hence disclosure relating to the amounts unpaid as at the year
end together with Interest paid / payable under this Act have not been
given.
# This figure do not include any amount due and outstanding, to be
credited to Investor Education and Protection Fund. ## Includes mainly
compensation payable to workers and statutory dues. Refer Note No. 27)
1.1. The disclosures of employee Benefits as defined in Accounting
Standard AS-15 are given below:
Defined Contribution Plan :
Contribution to defined contribution plan recognised as expenses for
the year is as under:
Employers contribution to Provident Fund Rs 7,07,499/-(Previous Year
Rs. 6,98,379/-
Defined Benefit Plan :
The employees Gratuity Fund Scheme managed by a Trust is a defined
benefit plan. The present value of obligation is determined based on
acturial valuation. The obligation for Leave encashment is recognised
in the same manner as Gratuity.
2. A sum of Rs. 63,528/- is included in Raw Material Consumption
representing prior period items. (Previous Year Rs. 20,561/- net
debited to Establishment Expenses)
3. Foreign Currency exposure that are not hedged by Derivative
instruments or forward contracts as at March, 31, 2012 amount to Rs.
3,94,03,727/- (Previous Year Rs. 4,42,91,929/-)
4. Segment Information
The Company has only one primary segment viz: "Printed Circuit Board".
The Company has only one major secondary segment viz : Exports out of
India. Hence no additional disclosure is required under Accounting
Standard AS-17.
5. The net amount of foreign exchange difference credited to Profit &
Loss Accounts is Rs. 42,02,435/- (Previous Year Rs. 50,92,543/-)
6. Exceptional item represents
Exceptional item represents amount payable to some of the workers of
the company as compensation in respect of past services, who have
voluntarily resigned from service of the company subsequent to the year
end.
7. Contingent Liabilities :
In respect of:
(i) Bonds executed in favour of President
of India in respect of Custom Duty on 220,582,000 220,582,000
Import of Machinery and Raw Materials
(ii) Estimated amount of contracts
remaining to be executed on capital
account and not provided for (Net of
Advances) 414,200 2,267,758
8. Previous year's figures have been regrouped / rearranged / recast
wherever necessary.
Mar 31, 2011
1. In the opinion of the management, current assets, loans and
advances are approximately of the value stated, if realised in the
ordinary course of business and the provision for all the known
liabilities and depreciation are adequate and not in excess of the
amount reasonably necessary.
2. The disclosures of Employee Benefits as defined in the Accounting
Standard AS-15 are given below:
Defined contribution Plan:
Contribution to defined contribution plan, recognised as expenses for
the year as under: Employers Contribution to Provident Fund Rs. 6,
98,379/- (Previous Year Rs. 7, 05,871/-)
Defined Benefit Plan:
The Employees' Gratuity fund scheme managed by a Trust is a defined
benefit plan. The present value obligation is determined based on
actuarial valuation. The obligation for leave encashment is recognized
in the same manner as gratuity.
3. Contingent Liabilities:
For the Year
2010 - 2011 2009 - 2010
Rs. Rs.
a. Bonds issued in favour of the
President of India in respect of
customs duty on import of machinery
& raw materials. 220,582,000 220,582,000
b. Estimated amount of contracts
remaining to be executed on capital
account and not provided for
(Net of advances) 22,67,758 NIL
4. The net amount of foreign exchange difference Credited to Profit
and Loss Account Rs 50,92,543/- (Previous year Rs. 630,188/-Debit).
5. Balance with other bank: Union Bank of California (USA), Maximum
balance at any time during the year Rs. 90,66,222/- (Previous year Rs.
91,06,149/-)
6. Related Party Disclosures: (As certified by the management) A. Key
Management Personnel:
A - Key Management Personnel Relationship
1. Shri. B. T. Doshi Executive Chairman
2. Shri. A. B. Doshi Managing Director
3. Shri. R. B. Doshi Executive Director
B - Parties where control exists Kapurwala Properties P. Limited
7. The Ministry of Corporate Affairs, Government of India vide its
General Notification No. S. O. 301 (E) dated 8th February, 2011 issued
under Section 211 (3) of the Companies Act, 1956, has exempted certain
classes of Companies from disclosing certain information in their
Profit & Loss Account. The Company, being an 'Export Oriented Company'
is entitled to the exemption. Accordingly, disclosure mandated by
paragraphs 3 (i) (a), 3 (ii) (a), 3 (ii) (b) and 3 (ii) (d) of part II,
Schedule VI to the Companies Act, 1956 have not been provided.
8. SEGMENT INFORMATION :
The Company has only single primary segment viz :- "Printed Circuit
Board". The Company has only one major secondary segment viz : Exports
out of India. Hence, no additional information as required by
Accounting Standard 17 is given.
9. A sum of Rs. 20,561/- Net Debit [Previous year Rs. 6,354/- Net
Credit] is included in establishment expenses representing net prior
period item.
10. Foreign currency exposure that are not hedged by derivative
instruments or forward contracts as at 31st March, 2011 amount to Rs.
4,42,91,929/- (Previous Year Rs. 4,86,31,959/-)
11. Previous year's figures have been regrouped / rearranged / recast
wherever necessary.
Mar 31, 2010
1. In the opinion of the management, current assets, loans and
advances are approximately of the value stated, if realised in the
ordinary course of business and the provision for all the known
liabilities and depreciation are adequate and not in excess of the
amount reasonably necessary.
2. The disclosures of Employee Benefits as defined in the Accounting
Standard AS-15 are given below:
Defined contribution Plan:
Contribution to defined contribution plan, recognised as expenses for
the year as under: Employers Contribution to Provident Fund Rs.
7,05,871/- (Previous Year Rs. 7,46,041/-)
Defined Benefit Plan:
The Employees Gratuity fund scheme managed by a Trust is a defined
benefit plan. The present value obligation is determined based on
actuarial valuation. The obligation for leave encashment is recognized
in the same manner as gratuity.
3. The net amount of foreign exchange difference debited to Profit and
Loss Account Rs 630,188/- (Previous year Rs. 29,185/- Credit).
4. Balance with other bank: Union Bank of California (USA), Maximum
balance at any time during the year Rs. 91,06,149/-(Previous year Rs.
1,26,49,125)
5. SEGMENT INFORMATION :
The Company has only single primary segment viz :- "Printed Circuit
Board". The Company has only one major secondary segment viz : Exports
out of India. Hence, no additional information as required by
Accounting Standard 17 is given.
6. A sum of Rs. 6,354/- Net Credit [Previous year Nil] is included in
establishment expenses representing net prior period item.
7. Depreciation for the year is lower by Rs. 59.89 Lacs on account of
reworking of Depreciation of Plant & Machinery keeping in mind the
remaining useful life. Depreciation is now provided on the residual
value as per rates prescribed by Schedule XIV of the Companies Act,
1956, which hitherto was provided at higher rate of 45 %.
8. Foreign currency exposure that are not hedged by derivative
instruments or forward contracts as at 31st March, 2010 amount to Rs.
4,86,31,959/- (Previous Year Rs. 6,12,22,958/-)
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