Mar 31, 2016
b) Terms/rights attached to equity shares:
The Company has only one class of equity shares having a par value of Rs. 1 per share (previous year Rs. 1 per share). Each holder of equity shares is entitled to one vote per share.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets 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.
d) 232, 477 equity shares bought back during a period of five years immediately preceding the balance sheet date.
1. SEGMENT INFORMATION
The Company operates in a single business and geographical segment viz. Printing of labels, packaging materials, Magazines and articles of stationery within India. Accordingly, no separate disclosures for primary business and secondary geographical segment are required.
2. RELATED PARTY DISCLOSURES
i) Related party relationships:
Subsidiary Company Powertel Engineering Private Limited
Xicon International Limited Key management personnel Mr. Jehangir R.Patel (Chairman and
Managing Director) (up to 30 June 2015) Mr.Bhushanlal Arora (Managing Director) (From 1 July 2015)
Mr.Bhushanlal Arora (Whole Time Director)
_(Up to 30.06.2015) _
Enterprises owned or significantly influenced by key management REPLXICON Engineers Private Limited (Till personnel or their relatives 2 March 2015)
Notes:
a) The related party relationships have been determined on the basis of the requirements of the Accounting Standard (AS) - 18 ''Related Party Disclosures'' and the same have been relied upon by the auditors.
b) The relationships as mentioned above pertain to those related parties with whom transactions have taken place during the current year and previous year, except where control exist, in which case the relationships have been mentioned irrespective of transactions with the related party.
3. RETIREMENT BENEFITS
a) Post-employment benefit plans
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
b) The Company has a defined benefit plan namely Gratuity for all its employees in the form of Group Gratuity -cum- Life Assurance Scheme. The liability for the defined benefit is determined on the basis of valuation made under the scheme at year end, which is calculated using the projected unit credit method.
The retirement benefit obligations recognized in the balance sheet represents the present value of the defined benefit obligations as adjusted for unrecognized past service cost.
The following table sets out the funded status of the gratuity plan and the amounts recognized in the Company''s financial statements as at 31 March 2016.
The amount of minimum lease payments with respect to the above lease recognized in the statement of profit and loss for the year is Rs. 180,000 (previous year Rs. 30,000).
Above disclosure is for leases entered after 1 April 2001, as per Accounting Standard (AS) - 19 âLeases''.
4. (a) Provision for current tax for the year has been made under Minimum Alternate Tax (MAT) as per provisions of Section 115JB of the Income-Tax Act, 1961.
In accordance with the Guidance Note on Accounting for Credit Available in respect of MAT under the Income-Tax, 1961 issued by the Institute of Chartered Accountants of India (ICAI), the Company has recognized the MAT credit as an asset under the head âLoans and Advancesâ and has credited the same to the Profit and Loss Account under âProvision for Taxationâ.
b) MAT credit entitlement of Rs.10,622; (Previous year Rs. 61,711) is recognized during the year being the difference of the tax paid under sub-section (1) of Section 115 JB and the amount of tax payable on the total income computed in accordance with the Income Tax Act, 1961.
5.In the opinion of management, trade receivables and short term loans and advances have a value on realization in the ordinary course of business at least equal tothe amount at which they are stated in the balance sheet. The provision for depreciation and all known liabilities is adequate and not in excess of the amount stated.
6. As the Company is yet to appoint a Company Secretary and Chief Financial Officer under Section 203 of the Companies Act, 2013, read with Rule 8 and 8A of The Companies (Appointment and Remuneration of Management Personnel) Rule, 2014, the accounts have not been signed by them.
7. Figures of the previous year are re-grouped and re-arranged, wherever considered necessary to conform to the current year''s presentation.
Mar 31, 2015
1 CORPORATE INFORMATION:
Kaiser Corporation Limited ("the Company") is engaged in the business
of printing of labels and cartons in India. The Company was
incorporated on 20 September 1993, having its registered office at
Kaiser Corporation Limited, 2nd floor, Plot No. 112, 13th Road, MIDC,
Andheri (E), Mumbai - 400 093 .The Company has two subsidiary namely,
Powertel Engineering Private Limited engaged in manufacturing and
trading of engineering goods and Xicon International Limited which is
engaged in offering Turnkey Project Management and Engineering
services.
2. Terms/rights attached to equity shares:
The Company has only one class of equity shares having a par value of
Rs.1 per share(previous year Rs. 1 per share). Each holder of equity
shares is entitled to one vote per share.
In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive remaining assets 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.
The Company is in the process of compiling relevant information from
its suppliers about their coverage under the Micro, Small and Medium
Enterprises Development Act, 2006. As the Company has not received any
information from its suppliers as on the date regarding their status
under the above said Act, no disclosure has been made.
The Company has charged depreciation based on revised reman i ng useful
life of the assets as per the requirement of Schedule II of Companies
Act 2013 effective from 1 April 2014. Due to above, depreciation
charged for the year ended is higher by Rs .3,382. Further, based on
transitional provis ion in Note 7(b) to Schedule II, an amount of Rs.
7,205 (net of deferred tax Rs.3,222) has been adjusted to opening
balance of the retained earnings.
3. SEGMENT INFORMATION
The Company operates in a single business and geographical segment viz.
Printing of labels, packaging materials, Magazines and articles of
stationery within India. Accordingly, no separate disclosures for
primary business and secondary geographical segment are required.
4. RELATED PARTY DISCLOSURES
i) Related party relationships:
Subsidiary Company Powertel Engineering Private Limited
Xicon International Limited
Key management personnel Mr. Jehangir R.Patel (Chairman and
Managing Director)
Mr.Bhushanlal Arora (Whole Time Director)
Enterprises owned or significantly influenced by key management
REPLXICON Engineers Private Limited (Till personnel or their relatives
2 March 2015)
Notes:
a) The related party relationships have been determined on the basis of
the requirements of the Accounting Standard (AS) - 18 ,Related Party
Disclosures' and the same have been relied upon by the auditors.
b) The relationships as mentioned above pertain to those related
parties with whom transactions have taken place during the current year
and previous year, except where control exist, in which case the
relationships have been mentioned irrespective of transactions with the
related party.
5. The Company has a defined benefit plan namely Gratuity for all its
employees in the form of Group Gratuity -cum- Life Assurance Scheme.
However, the disclsoure information is not available and hence, the
same is not disclosed.
6. Pursuant to the approval of the members at the Annual General
Meeting held on September 30, 2013, the Company sub-divided (split) the
face value of equity shares from Rs. 10 per equity share to Rs. 1 per
equity share, which is effective for trading from November 22, 2013 as
per notice received from Bombay Stock Exchange dated November 21,2013.
7. The Company has entered into one lease agreement for the use of
office premises for a period of 33 months which is non cancellable in
nature under operating lease.
8. The name of the Company has changed from "Kaiser Press Limited" to
"Kaiser Corporation Limited" with effect from 5 November 2013.
9. (a) Provision for current tax for the year has been made under
Minimum Alternate Tax (MAT) as per provisions of Section 115JB of the
Income-Tax Act, 1961.
In accordance with the Guidance Note on Accounting for Credit Available
in respect of MAT under the Income-Tax, 1961 issued by the Institute of
Chartered Accountants of India (ICAI), the Company has recognized the
MAT credit as an asset under the head "Loans and Advances" and has
credited the same to the Profit and Loss Account under "Provision for
Taxation" .
b) MAT credit entitlement of Rs.61,711; (Previous year Rs. 71,810) is
recognized during the year being the difference of the tax paid under
sub-section (1) of Section 115 JB and the amount of tax payable on the
total income computed in accordance with the Income Tax Act, 1961.
10. In the opinion of management, trade receivables and short term loans
and advances have a value on realisation in the ordinary course of
business at least equal to the amount at which they are stated in the
balance sheet. The provision for depreciation and all known liabilities
is adequate and not in excess of the amount stated.
11. As the Company is yet to appoint a Company Secretary and Chief
Financial Officer under Section 203 of the Companies Act, 2013, read
with Rule 8 of The Companies (Appointment and Remuneration of
Management Personnel) Rule, 2014, the accounts have not been signed by
them.
12. Figures of the previous year are re-grouped and re-arranged,
wherever considered necessary to conform to the current year's
presentaion.
Mar 31, 2014
1 CORPROATE INFORMATION
Kaiser Corporation Limited ("the Company") is engaged in the business
of printing of labels and cartons in India. The Company was
incorporated on 20 September 1993, having its registered office at K.
K. (Navsari) Chambers, Ground Floor, 39B, A. K. Nayak Marg, Fort,
Mumbai, Maharashtra - 400001.The Company has two subsidiary namely,
Powertel Engineering Private Limited engaged in manufacturing and
trading of engineering goods and Xicon International Limited which is
engaged in offering Turnkey Project Management and Engineering
services.
2. Terms/rights attached to equity shares:
The Company has only one class of equity shares having a par value of
Rs.1 per share (previous year Rs. 10 per share). Each holder of equity
shares is entitled to one vote per share.
In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive remaining assets 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.
Note :
The Company is in the process of compiling relevant information from
its suppliers about their coverage under the Micro, Small and Medium
Enterprises Development Act, 2006. As the Company has not received any
information from its suppliers as on the date regarding their status
under the above said Act, no disclosure has been made.
3. CONTINGENT LIABILITIES
Current Year Previous Year
ended ended
Particulars 31 March 2014 31 March 2013
(Rs.) (Rs.)
Guarantees given to bank on behalf
of a subsidiary company 82,375,000 72,375,000
Total 82,375,000 72,375,000
4. SEGMENT INFORMATION
The Company operates in a single business and geographical segment viz.
Printing of labels, packaging materials, Magazines and articles of
stationery within India. Accordingly, no separate disclosures for
primary business and secondary geographical segment are required.
Notes:
a) The related party relationships have been determined on the basis of
the requirements of the Accounting Standard (AS) - 18 ''Related Party
Disclosures'' and the same have been relied upon by the auditors.
b) The relationships as mentioned above pertain to those related
parties with whom transactions have taken place during the current year
and previous year, except where control exist, in which case the
relationships have been mentioned irrespective of transactions with the
related party.
5. The Company has a defined benefit plan namely Gratuity for all its
employees in the form of Group Gratuity -cum- Life Assurance Scheme.
However, the disclsoure information is not available and hence, the
same is not disclosed.
6. Pursuant to the approval of the members at the Annual General
Meeting held on September 30, 2013, the Company sub-divided (split) the
face value of equity shares from Rs. 10 per equity share to Rs. 1 per
equity share, which is effective for trading from November 22, 2013 as
per notice received from Bombay Stock Exchange dated November 21, 2013.
In compliance with Accounting Standard (AS)-20 "Earnings Per Share" the
Company has given effect to the said sub-division of shares in
computing earnings per share for all comparative periods.
7. The name of the Company has changed from "Kaiser Press Limited" to
"Kaiser Corporation Limited" with effect from 5 November 2013.
8. (a) Provision for current tax for the year has been made under
Minimum Alternate Tax (MAT) as per provisions of Section 115JB of the
Income-Tax Act, 1961.
In accordance with the Guidance Note on Accounting for Credit Available
in respect of MAT under the Income-Tax, 1961 issued by the Institute of
Chartered Accountants of India (ICAI), the Company has recognized the
MAT credit as an asset under the head "Loans and Advances" and has
credited the same to the Profit and Loss Account under "Provision for
Taxation".
b) MAT credit entitlement of Rs. 71,810 is recognized during the year
being the difference of the tax paid under sub-section (1) of Section
115 JB and the amount of tax payable on the total income computed in
accordance with the Income Tax Act, 1961.
9. In the opinion of management, trade receivables and short term
loans and advances have a value on realisation in the ordinary course
of business at least equal to the amount at which they are stated in
the balance sheet. The provision for depreciation and all known
liabilities is adequate and not in excess of the amount reasonably
stated.
10. The Company is yet to appoint a Company Secretary as required
under Section 383A of the Companies Act, 1956, as such the accounts
have not been signed by a Company Secretary.
11. Figures of the previous year are re-grouped and re-arranged,
wherever considered necessary to conform to the current year''s
presentaion.
Mar 31, 2013
1 SEGMENT INFORMATION
The Company operates in a single business and geographical segment viz.
Printing of labels, packaging materials, Magazines and articles of
stationery within India. Accordingly, no separate disclosures for
primary business and secondary geographical segment are required.
2 (a) Provision for current tax for the year has been made under
Minimum Alternate Tax (MAT) as per provisions of Section 115JBof the
Income-Tax Act, 1961.
In accordance with the Guidance Note on Accounting for Credit Available
in respect of MAT under the Income-Tax, 1961 issued by the Institute of
Chartered Accountants of India (ICAI), the Company has recognized the
MAT credit as an asset under the head "Loans and Advances" and has
credited the same to the Profit and Loss Account under "Provision for
Taxation".
b) MAT credit entitlement of Rs. 57,040 is recognized during the year
being the difference of the tax paid under sub-section (1) of Section
115 JB and the amount of tax payable on the total income computed in
accordance with the Income Tax Act, 1961.
3 In the opinion of management, trade receivables and short term loans
and advances have a value on realisation in the ordinary course of
business at least equal to the amount at which they are stated in the
balance sheet. The provision for depreciation and all known liabilities
is adequate and not in excess of the amount reasonably stated.
4 The Company is yet to appoint a Company Secretary as required under
Section 383A of the Companies Act, 1956, as such the accounts have not
been signed by a Company Secretary.
5 Figures of the previous year are re-grouped and re-arranged,
wherever considered necessary to conform to the current year''s
presentaion.
Mar 31, 2012
1 CORPROATE INFORMATION
Kaiser Press Limited ("the Company") is engaged in the printing of
labels and cartons in India. The Company was incorporated on 20
September 1993, having its registered office atK. K. (Navsari)
Chambers, Ground Floor, 39B, A. K. NayakMarg, Fort, Mumbai,
Maharashtra-400001.The Company has two subsidiary namely, Powertel
Engineering Private Limited engaged in manufacturing of engineering
goods and Xicon International Limited which was an associate
company till 30 April 2011 and w.e.fl May2011 has became subsidiary
company. Xicon International Limited is engaged in offering Turnkey
Project Management and Engineering services.
a Terms/rights attached to equity 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.
In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive remaining assets 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.
Note :
As at 31 March 2011, the Company had received an amount of Rs.
2,806,000 towards share application money for 280,600 equity shares of
the Company at a premium of Rs. Nil. During the year, the Company has
alloted 232,477 equity shares of Rs. 10 each at premium of Rs. 2.07 on
05 December 2011 as per SEBI Preferential Issue Guidelines and
completed other allotment formalities.
Note :
The Company is in the process of compiling relevant information from
its suppliers about their coverage under the Micro, Small and Medium
Enterprises Development Act, 2006. As the Company has not received any
information from its suppliers as on date regarding their status under
the above said Act, no disclosure has been made.
Note:
In previous period, there was an impairment loss on fixed assets
amounting to Rs. 10,312,489, comprises of Goodwill Rs. 8,500,000 and
Plant and Machinery Rs. 1,812,489 on the basis of review carried out by
the management in accordance with Accounting Standard (AS) - 28
"impairment of Assets".
In previous period, certain items of plant and machinery were
identified and transferred from fixed assets to assets held for
disposal amounted to Rs. 1,456,921 at book value, which management
considers to be a realizable value.
* Upto previous year, Furniture and Fixtures and certain portion of
Computers were wrongly clubbed under the head Plant and Machinery and
depreciated at the rate of Plant and Machinery instead of at the rate
of Furniture and Fixtures and Computers. Thus, during the year, the
same has been rectified and error in calculation of depreciation
pertaining to earlier years were reflected as Prior period
depreciation.
2 CONTINGENT LIABILITIES
Current Year Previous Period
ended 31 March ended 31 March
Particulars
2012 2011
(Rs)
Guarantees given to bank on
behalf of a subsidary company 72,375,000 -
Total 72,375,000 -
3 SEGMENT INFORMATION
The Company operates in a single business and geographical segment viz.
Printing of labels, packaging materials, Magazines and articles of
stationery within India. Accordingly, no separate disclosures for
primary business and secondary geographical segment are required.
Notes:
a) The related party relationships have been determined on the basis
of the requirements of the Accounting Standard (AS) -18 'Related Party
Disclosures' and the same have been relied upon by the auditors.
b) The relationships as mentioned above pertain to those related
parties with whom transactions have taken place during the current year
and previous period, except where control exist, in which case the
relationships have been mentioned irrespective of transactions with the
related party.
Note : In previous period, as per para 28 of Accounting Standard (AS) -
20 'Earning Per Share', for the purpose of calculation of earning per
share, share application money pending for allotment or any advance
share application money as at the balance sheet date, which is not
statutorily required to be kept separately and is being utilised in the
business of the enterprise, is treated in the same manner as dilutive
potential equity shares for the purpose of calculation of diluted
earnings per share.
4 In the opinion of management, trade receivables and short term loans
and advances have a value on realisation in the ordinary course of
business at least equal to the amount at which they are stated in the
balance sheet. The provision for depreciation and all known liabilities
is adequate and not in excess of the amount reasonably stated.
5 The Company is yet to appoint a Company Secretary as required under
Section 383A of the Companies Act, 1956, as such the accounts have not
been signed by a Company Secretary.
6 Till the period ended 31 March 2011, the Company was using
pre-revised Schedule VI of the Companies Act, 1956 for the preparation
and presentation of its financial statements. During the year ended 31
March 2012, the revised schedule VI notified under the Companies Act,
1956 has become applicable to the Company. Therefore, the Company has
reclassified previous period figures to conform to the current year's
presentation.
7 During the previous period, the Company had changed its financial
year from 30 June to 31 March. As such, the previous period was of nine
months i.e. from 01 July 2010 to 31 March 2011 as compared to current
year of twelve months i.e. from 01 April 2011 to 31 March 2012 and
hence, the current year's figures are not comparable with the figures
ofthe previous period.
Mar 31, 2011
Notes:
1. The related party relationships have been determined on the basis
of the requirements of the Accounting Standard (AS)-18 'Related Party
Disclosures' and the same have been relied upon by the auditors.
2. The relationships as mentioned above pertain to those related
parties with whom transactions have taken place during the current year
and previous year.
3. The Company had two primary business segments viz: 1) Printing of
labels, packaging materials, Magazines
and articles of stationery and 2) Textile trading in Fabric during the
year ended 30 June 2010 and only one business segment viz. Printing of
labels, packaging materials, Magazines and articles of stationery
during the current period. The Company does not have any reportable
geographical segment. Primary segment information for previous year is
as under:
1. a)In the opinion of the management, current assets, loans and
advances have a value on realisation in the ordinary course of business
at least equal to the amount at which they are stated and provision for
all known and determined liabilities are adequate and not in the excess
of the amount reasonably stated.
b) Balances of certain debtors, creditors, unsecured loans and advances
given are subject to confirmation / reconciliation, if any. The
management does not expect any material difference affecting the
financial statements on such reconciliation / adjustments.
2. The Company is in the process of compiling relevant information
from its suppliers about their coverage under the Micro, Small and
Medium Enterprises Development Act, 2006. As the Company has not
received any information from its suppliers as on date regarding their
status under the above said Act, no disclosure has been made.
3. Additional information pursuant to Part II of Schedule VI to the
Companies Act, 1956
Quantitative/Value Information:
a) Licensed Capacity - Not Applicable
b) Installed Capacity - Not Applicable
c) Purchases, Production Turnover and Stock:
The Company is in the business of "Printing of labels, packaging
materials, Magazines and articles of stationery" wherein materials
manufactured and purchased are of heterogeneous nature. Considering the
peculiarity of activities, the quantitative information of consumption
of materials as required under Part II of Schedule VI of the Companies
Act, 1956 could not be ascertained.
4.The Company is yet to appoint a Company Secretary as required under
Section 383A of the Companies Act, 1956, as such the accounts have not
been signed by a Company Secretary.
5. a) Previous year figures have been rearranged or regrouped,
wherever considered necessary to conform to the current year's presentation.
b) During the year, the Company has changed its financial year from 30
June to 31 March. As such, the current financial year is of nine months
i.e. from 01 July 2010 to 31 March 2011 as compared to previous year of
twelve months i.e. 01 July 2009 to 30 June 2010 and hence, the current
period's figures are not comparable with the figures of the previous
year.
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