Mar 31, 2015
1. Corporate Information:
Hipolin Limited ("The Company") was incorporated in March 31,1994 under
the provision of the Companies Act, 1956. The Company is engaged in
manufacturing of Detergent Powder & Cake and alike products. The
manufacturing facility for the same is set up at A/1/1, Nilkanth Ind.
Estate, Nr, Iyava Bus Stand, Ta. : Sanand, Dist.: Ahmedabad,
Gujarat.The equity shares of the Company are listed on Bombay Stock
Exchange Ltd.
2. Rights, Preferences and Restrictions
The authorised share capital of the Company has only one class of shares
referred to as 'equity shares' having a par value of Rs.10/-each.
The rights and privileges to equity shareholders are general in nature
and defined under the Articles of Association.
The equity shareholders shall have:
I) One vote and poll when present in person (including a body corporate
by duly authorised representative) or by an agent duly authorised under
a power of attorney or by a proxy his voting right shall be in
proportion to his share to the paid equity share capital of the
company. However, no member shall exercise any voting rights in respect
of any share registered in his name on which any class or other sums
presently Payable by him have not been paid or in regard to which the
company has exercised any right of lien.
ii) subject to the rights of person if any, entitled to share with
special rights as to dividends, all dividends shall be declared and
paid according to the amount paid or credited as paid to the shares in
respect where of the dividend is payable.
3. Previous year's figures have been regrouped, reworked, rearranged
and reclassified whenever necessary.
4. SEGMENT REPORTING
The Company has only one reportable business segment i.e. Detergent
Powder & cake as primary segment.
5. RELATED PARTY TRANSACTION DISCLOSURES
a) List of related parties with whom transactions have taken place
during the year and relationship
SR. No. Name
1 Shri Bhupendra J. Shah
2 Shri Jaykumar J. Shah
3 Shri Shailesh J. Shah
4 Shri Daxesh B. Shah* Key Managerial Personnel
5 Shri Rumit B. Shah*
6 Shri Vivek S. Shah*
7 Shri Bharat J. Shah
8 Shri Subhash J. Shah
1 Shri Bharat J. Shah**
2 Shi Subhash J. Shah**
3 Shri Apurva S. Shah Relatives of Key Managerial Personnel
4 Shri Daxesh B. Shah
5 Shri Rumit B. Shah
6 Shri Vivek S. Shah
* Shri Daxesh B. Shah, Vivek S. Shah and Shri Rumit B. Shah resigned as
Key Managerial Personnel w.e.f. 13.02.2015 but remain as a relative of
Key Mangerial personnel from the same date of resignation
** Shri Bharat J. Shah and Shri Subhash J. Shah were resigned as
relatives of Key Managerial Personnel w.e.f.13.02.2015 but were
appointed as Key Mangerial Personnel from the same date i.e.,
13.02.2015
6. Contingent Liabilities Not Provided For In Accounts:
Rs. (In Lacs)
2014-15 2013-14
In respect of Bank Guarantee issued
In favour of Government of India. 169.00 244.00
In respect of disputed Income Tax matters 42.69 -
7. Excise Duty amounting to Rs. 0.20 lacs (Previous Year Rs. 0.83
lacs) on finished goods not cleared is neither provided nor is the same
considered for valuation of closing stock. This has no impact on the
profit/ loss of the accounting year.
8. a) In the opinion of the Directors, Current assets , Loans and
Advances have the value at which they are stated in the Balance Sheet,
if realized in the ordinary course of business.
b) The confirmations of some parties for the amount due to them/ amount
due from them as per books of accounts are not received. Necessary
adjustments, if any, will be made when the accounts are reconciled/
settled.
9. Since it is not possible to ascertain with reasonable certainty
the quantum of accruals in respect of certain Insurance and other
claims, Excise and custom duty Refund, Interest on overdue bills from
customers, etc., the same are to be accounted on cash basis.
10. Earning Pershare(EPS):
The earnings considered in ascertaining the Company's Basic EPS in the
attributable net profit /(loss) to the equity shareholders'. The number
of shares used in computing Basic EPS is the weighted average number of
shares outstanding during the period:
11. All the Raw Materials, Components and other items consumed are
indigenous. There is no consumption of imported Raw material,
Components and other items.
12. Based on the information available with the company the balance
due to Small Enterprise as under Micro, Small and Medium Enterprise
Development Act, 2006("MSMED Act") is Rs. 3,25,408/-
Mar 31, 2014
1.1. Previous year''s figures have been regrouped, reworked, rearranged
and reclassified wherever necessary.
20013-14 2012-13
Rs.in Lacs Rs.in Lacs
1.2. Contingent Liabilities Not Provided For
In Accounts :
Bank Guarantee issued in favour Government of India. 244.00 244.00
1.3. Excise duty amounting to Rs. 0.83 lac (Previous year Rs. 4.61
LACS) on Finished Goods not cleared is neither provided for nor the
same is considered for valuation of closing stock. This has no impact
on the profit of the accounting year.
1.4. (a) In the opinion of the Directors, Current assets, Loans and
Advances have the value at which they are stated in the Balance Sheet,
if realized in the ordinary course of business.
(b) The confirmations of some of the parties for the amounts due to
them / amount due from them as per books of accounts are not received.
Necessary adjustments, if any, will be made when the accounts are
reconciled / settled.
1.5. Since it is not possible to ascertain with reasonable certainty
the quantum of accruals in respect of certain Insurance and other
claims, Excise and custom duty Refund, Interest on overdue bills from
customers, etc., the same are accounted on cash basis.
1.6. Impairment ofAssets.
The carrying amounts of assets are reviewed at each balance sheet date,
if there is any indication of impairment based on internal/external
factors. An impairment loss will be recognized wherever the carrying
amount of an assets exceeds its estimated recoverable amount. The
recoverable amount is greater of the assets net selling price and value
in use. In assessing the value in use the estimated future cash flows
are discounted to the present value at the weighted average cost of
capital. During the year there is no impairment losses on assets of the
Company.
1.7. Employee benefits
The accounting liability on account of gratuity and leave is accounted
as per AS 15 dealing with Employee benefits.
The Company operates a defined benefit plan (the Gratuity Plan)
covering eligible employees, which provides a lump sum payment to
vested employees at retirement, death, incapacitation or termination of
employment, of an amount based on the respective employee''s salary and
tenure of employment.
1.8. Earning Per Share (EPS) The earnings considered in ascertaining
the company''s Basic EPS in the attributable net profit or loss to the
equity shareholder''s as per AS - 20 "Earnings per Share". The number of
shares used in computing Basic EPS is the weighted average number of
shares outstanding during the
period.
1.9. Based on information available with the Company the balance due
to Small Enterprise as under the under MSMED Act, 2006 is Rs.
7,05,617/-
1.10. Additional Depreciation on increased amount on revaluation of
Fixed Assets amounting to Rs. 263821 (Previous year Rs. 263821) is
charged to Profit and loss Account
1.11. SEGMENTAL REPORTING
The Company operates in only one segment i .e. detergent powder and
cake.
Mar 31, 2013
1. Excise duty amounting to Rs. 4.61 lacs (Previous year Rs. 3.82
LACS) on Finished Goods not cleared is neither provided for nor the
same is considered for valuation of closing stock. This has no impact
on the profit of the accounting year.
2. (a) Intheopinion of the Directors, Current assets, Loans and
Advances have the value at which they are stated in the Balance Sheet,
if realized in the ordinary course of business.
(b) The confirmations of some of the parties for the amounts due to
them / amount due from them as per books of accounts are not received.
Necessary adjustments, if any, will be made when the accounts are
reconciled / settled.
3. Since it is not possible to ascertain with reasonable certainty the
quantum of accruals in respect of certain Insurance and other claims,
Excise and custom duty Refund, Interest on overdue bills from
customers, etc., the same are to be accounted on cash basis.
The Company has not employed any person drawing remuneration of Rs.
5,00,000/per month or more or Rs. 60,00,000/- per annum.
4. Impairment of Assets.
The carrying amounts of assets are reviewed at each balance sheet date,
if there is any indication of impairment based on internal/external
factors. An impairment loss will be recognized wherever the carrying
amount of an assets exceeds its estimated recoverable amount. The
recoverable amount is greater of the assets net selling price and value
in use. In assessing the value in use the estimated future cash flows
are discounted to the present value at the weighted average cost of
capital. During the year there is no impairment losses on assets of the
Company.
5. Employee benefits
The accounting liability on account A-gratuity and leave is accounted
as per AS 15 dealing with Employee benefits.
The Company operates a defined benefit plan (the Gratuity Plan)
covering eligible employees, which provides a lump sum payment to
vested employees at retirement, death, incapacitation or termination of
employment, of an amount based on the respective employee''s salary and
tenure of employment.
In accordance with the requirements of the new Accounting Standard (AS
22) dealing with the taxes on income issued by The Institute of
Chartered Accounts of India, the net deferred liability relating to
previous year amounting to Rs. 161.25 lacs has been adjusted against
the general reserve and profit and loss account of Rs. 78.10 lacs and
Rs. 83.15 lacs respectively. The net Deferred Tax Liability for the
current year of Rs. (18.54) lacs (p.y Rs. 3.50 lacs) has adjusted for
reversing timing difference.
6. Earnings Per Share (EPS) The earnings considered in ascertaining
the company''s Basic EPS in the attributable net profit or loss to the
equity shareholder''s as per AS -20 "Earnings per Share" issued by ICAI.
The'' number of shares used in computing Basic EPS is the weighted
average number of shares outstanding during the period.
7. Based on information available with the Company the balance due to
Small Enterprise asunder the under MSMED Act, 2006 is 8,91,567/-
8. Additional Depreciation on increased amount on revaluation of
Fixed Assets amounting to Rs. 263821 (Previous year Rs. 263821) is
charged to Profit and loss Account
Mar 31, 2012
1. Previous year's figures have been regrouped, reworked, rearranged
and reclassified wherever necessary.
20011-12 2010-11
Rs.inLacs Rs.in Lacs
2. CONTINGENT LIABILITIES NOT PROVIDED
FOR IN ACCOUNTS:
Bank Guarantee issued in favour
Government of India. 244.00 219.00
3. Excise duty amounting to Rs.3.82lacs (Previous year Rs.1.37 LACS)
on Finished Goods not cleared is neither provided for nor the same is
considered for valuation of closing stock. This has no impact on the
profit of the accounting year.
4. (a) In the opinion of the Directors, Current assets, Loans and
Advances have the
value at which they are stated in the Balance Sheet, if realized in the
ordinary course of business.
(b) The confirmations of some of the parties for the amounts due to
them / amount due from them as per books of accounts are not received.
Necessary adjustments, if any, will be made when the accounts are
reconciled / settled.
5. Since it is not possible to ascertain with reasonable certainty the
quantum of accruals in respect of certain Insurance and other claims,
Excise and custom duty Refund, Interest on overdue bills from
customers.etc, the same are to be accounted on cash basis.
6. Impairment of Assets.
The carrying amounts of assets are reviewed at each balance sheet date,
if there is any indication of impairment based on internal/external
factors. An impairment loss will be recognized wherever the carrying
amount of an assets exceeds its estimated recoverable amount. The
recoverable amount is greater of the assets net selling price and value
in use. In assessing the value in use the estimated future cash flows
are discounted to the present value at the weighted average cost of
capital. During the year there is no impairment losses on assets of the
Company
7. Employee benefits
The accounting liability on account of gratuity and leave is accounted
as per AS 15 dealing with Employee benefits.
The Company operates a defined benefit plan (the Gratuity Plan)
covering eligible employees, which provides a lump sum payment to
vested employees at retirement, death, incapacitation or termination of
employment, of an amount based on the respective employee's salary and
tenure of employment.
8. Based on information available with the Company the balance due to
Small Enterprise asunder the underMSMEDAct,2006is 14,45,592/-.
9. Information required intermsofpart iv of Schedule (VI) of the
Company Act,1956 is attached.
10. Additional Depreciation on increased amount on revaluation of
Fixed Assets amounting to Rs. 263821 (Previous year Rs. 263821) is
charged to Profit and loss Account
11. In accordance with the requirements of the new Accounting Standard
(AS 22) dealing with the taxes on income issued by The Institute of
Chartered Accounts of India, the net deferred liability relating to
previous year amounting to Rs. 161.25 lacs has been adjusted against
the general reserve and profit and loss account of Rs. 78.10 lacs and
83.15 lacs respectively. The net Deferred Tax Liability for the current
year of Rs. 3.50 lacs (p.y Rs.0.48 lacs) has adjusted for reversing
timing difference.
Mar 31, 2010
1. Previous years figures have been regrouped, reworked, rearranged
And reclassified
2009-10 2008-09
Rs.in Lacs Rs.in Lacs
2. CONTINGENT LIABILITIES NOT PROVIDED
FOR IN ACCOUNTS:
(i) Tax liability in respect thereof demanded
by the income tax department forwhich 10.46 27.85
the appeal is pending.
(ii) Bank Guranty issued in favour
Government of India. 219.00 70.00
3. Excise duty amounting to Rs.4.53 lacs (Previous year Rs.6.72 LACS)
on Finished Goods not cleared is neither provided for nor the same is
considered for valuation of closing stock. This has no impact on the
profit of the accounting year.
4. (a) In the opinion of the Directors, Current assets, Loans and
Advances have the value at which they are stated in the Balance Sheet, if
realized in the ordinary course of business.
(b) The confirmations of some of the parties for the amounts due to
them / amount due from them as per books of accounts are not received.
Necessary adjustments, if any, will be made when the accounts are
reconciled / settled.
5. Since it is not possible to ascertain with reasonable certainty the
quantum of accruals in respect of certain Insurance and other claims,
Excise and custom duty Refund, Interest on overdue bills from
customers,etc., the same are to be accounted on cash basis.
6. Impairment of Assets.
The carrying amounts of assets are reviewed at each balance sheet date,
if there is any indication of impairment based on internal/external
factors. An impairment loss will be recognized wherever the carrying
amount of an assets exceeds its estimated recoverable amount. The
recoverable amount is greater of the assets net selling price and value
in use. In assessing the value in use the estimated future cash flows
are discounted to the present value at the weighted average cost of
capital. During the year there is no impairment losses on assets of the
Company.
7. Employee benefits
The accounting liability on account of gratuity and leave is accounted
as per AS 15 dealing with Employee benefits.
The Company operates a defined benefit plan (the Gratuity Plan)
covering^Mgible employees, which provides a lump sum payment to vested
employees at retirement, death, incapacitation or termination of
employment, of an amount based on the respective employees salary and
tenure of employment.
8. Earning Per Share (EPS) The earnings considered in ascertaining the
companys Basic EPS in the attributable net profit or loss to the
equity shareholders as per AS -20 "Earnings per Share" issued by ICAI.
The number of shares used in computing Basic EPS is the weighted
average number of shares outstanding during the period.
9. Based on information available with the Company the balance due to
Small Enterprise asunder the under MSMEDAct,2006 is 8,36,784/-.
10. Information required intermsofpart iv of Schedule(VI)of the Company
Act,1956 is attached.
11. Additional Depreciation on increased amount on revaluation of
Fixed Assets amounting to Rs.263821 (Previous year Rs.263821) is
charged to Profit and loss Account
12. In accordance with the requirements of the new Accounting Standard
(AS 22) Dealing with the taxes on income issued by The Institute of
Chartered Accounts of India, the net deferred liability relating to
previous yearamounting to Rs. 161.25 lacs has been adjusted against the
general reserve and profit and loss account ofRs. 78.10 lacs and 83.15
lacs respectively. The net Deferred Tax Liability forthe current year
of Rs. 4.66 lacs Rs.23.83 lacs) has adjusted for reversing timing difference.
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