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Notes to Accounts of Rudra Global Infra Products Ltd.

Mar 31, 2023

Terms & Rights attached to equity shares :

(A) 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. 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. During the year ended March 31, 2023, the amount per share of dividend recognised as distributions to equity share holders was Rs. NIL.

(B) 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.

Refer Statement of changes in Equity for additions/deletions in each reserve Notes

I. Securities Premium reserve represents premium received on equity shares issued, which can be utilised only in accordance with the provisions of the Companies Act, 2013 (the Act) for specified purpose.

II. Retained Earnings are the profits that the company has earned till date, less any transfer to general reserves, dividends or other distributions paid to the shareholders.

2. Details of Security:

a) Secured by way of hypothecation of specified plant and machinery and all other specified movables (save & except book debts) purchased out of loan, by equitable mortgage of Company''s immovable properties located at Nesada Taluka Sihor, Bhavnagar inclusive of all buildings, structures and plant & machinery thereon on pari passu basis and also by personal guarantee of Directors.

b) Long Term Finance from SIDBI Bank is secured by Hypothecation Charge on Windmill/ windfarm

Term Loan of Rs. 900.00 Lakhs is repayable in Equal Monthly Instalments of Rs. 11,50,000/-including interest. There is no overdue interest as at 31.03.2022.

c) Long Term Finance from AXIS Bank is secured by Hypothecation Charge on Crane

Term Loan of Rs. 12.7890 Lakhs is repayable in Equal Monthly Installments of Rs. 32,746/-including interest. There is no overdue interest as at 31.03.2022.

d) Long Term Finance from ICICI Bank is secured by Equitable Mortgage on Non - Residential Premises at Ahmedabad.

Term Loans of Rs. 59.07 Lakhs is repayable in Equal Monthly Installments of Rs. 87,329/-including interest. There is no overdue interest as at 31.03.2022.

e) Long Term Finance from SIDBI Bank is secured by Hypothecation Charge on Windmill/ windfarm.

Term Loan of Rs. 810.00 Lakhs is repayable in Equal Monthly Installments of Rs. 11,50,000/-including interest. There is no overdue interest as at 31.03.2022.

f) Long Term Finance from Axis Bank is secured by Hypothecation Charge on Hydraulic Crane. Term Loan of Rs. 11.45 Lakhs is repayable in 36 Equal Monthly Installments of Rs. 36,544/-including interest. There is no overdue interest as at 31.03.2022.

g) Term Loan from Punjab National Bank of Rs. 14.00 Crores is primarily secured by way of hypothecation of plant and machinery purchased out of loan. The term loan carries interest @ 12.25 % p.a.

2. Cash Credit facility from Punjab National Bank is primarily secured by hypothecation charge on stock and Book debts of the company and collaterally secured by equitable mortgage of immovable properties of the company, its directors and their relatives. The CC is repayable on demand and carries interest @12.00% p.a.

Note 3.2 : Employee benefits A. Defined contribution plans

Eligible employees of the Company are entitled to receive benefits in respect of provident fund, in which both employees and the Company make monthly contributions at a specified percentage of the covered employees'' salary. The contributions are made to the provident fund as set up by Government.

B. Defined benefit plans:

The Company has following post employment benefit which are in the nature of defined benefit plans:

(a) Gratuity

The Company has an obligation towards gratuity, a defined benefit retirement plan covering eligible employees. The plan provides for payment to vested employees at retirement, death while in employment or on termination of employment in

Note 3.4 : Capital Management

For the purpose of the company''s capital management, capital includes issued eq uity capital and all oth er equity reserves attributable to the equity holders of the Company. The primary objectives of the Company''s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios in order to support its business and maximise return to stakeholders through the optimisation of the debt and equity balance.

The Company determines the amount of capital required on the basis of annual planning and budgeting and corporate plan for working capital, capital outlay and long-term product and strategic involvements. The funding requirements are met through internal accruals and a combination of both long-term and short-term borrowings.

The Company monitors the capital structure on the basis of total debt (long term and short term) to equity and maturity profile of the overall debt portfolio of the Company.

Note 3.5 : Financial Risk Management

In course of its business, the Company is exposed to certain financial risks that could have significant influence on the Company''s business and operational/ financial performance. These include market risk (including currency risk, interest rate risk and price risk), credit risk and liquidity risk.

The Board of Directors reviews and approves risk management framework and policies for managing these risks and monitors suitable mitigating actions taken by the management to minimise potential adverse effects and achieve greater predictability to earnings. In line with the overall risk management framework and policies, the management monitors and manages risk exposure through an analysis of degree and magnitude of risks.

(i) Market Risk

Market risk is the risk that changes in market prices, liquidity and other factors that could have an adverse effect on realizable fair values or future cash flows to the Company. The Company''s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates as future specific market changes cannot be normally predicted with reasonable accuracy.

(a) Foreign Currency Risk Management:

The Company undertakes transactions denominated in foreign currencies and thus it is exposed to exchange rate fluctuations. The Company actively manages its currency rate exposures, arising from transactions entered and denominated in foreign currencies, and uses derivative instruments such as foreign currency forward contracts to mitigate the risks from such exposures. The company does not use derivative instruments to hedge risk exposure.

(b) Interest Rate Risk Management:

The Company is exposed to interest rate risk pertaining to funds borrowed at both fixed and floating i nterest rates. The Company''s risk management activities are subject to management, direction and control under the framework of risk management policy of interest rate risk. The management ensures risk governance framework for the company through

appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the Company''s policies and risk objectives

For the company''s total borrowings, the analysis is prepared assuming that amount of the liability outstanding at the end of the reporting period was outstanding for the whole year.

(ii) Credit Risk

Credit risk refers to the risk that a counterparty or customer will default on its obligation resulting in a loss to the company. Financial instruments that are subject to credit risk principally consist of Loans, Trade and Other Receivables, Cash and Cash Equivalents, Investments and Other Financial Assets.

Credit risk encompasses both, the direct risk of default and the risk of deterioration of creditworthiness as well as concentration of risk. The Company''s exposure and the credit ratings of its counterparties are continuously monitored and the aggregate value of transactions concluded is spread amongst approved counterparties

Trade receivables consist of a large number of customers, spread across diverse industries and geographical areas. The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and operate in independent markets. Ongoing credit evaluation is performed on the financial condition of accounts receivable and, where appropriate. The average credit periods are generally in the range of 14 days to 90 days. Credit limits are established for all customers based on internal rating criteria.

(iii) Liquidity Risk

The Company monitors its risk of shortage of funds through using a liquidity plannin g process that encompa sses an analysis of projected cash inflow and outflow.

The Company''s objective is to maintain a balance between continuity of funding and flexibility largely through cash flow generation from its operating activities and the use of bank loans. The Company assessed the concentration of risk with respect to refinancing its debt and concluded it to be low. The Company has access to a sufficient variety of sources of funding

Note 3.10: Other Notes

1. Outstanding Balance of unsecured loans, borrowings, trade receivables, trade paya bles and any other outst anding balances including all squared up accounts are subject to confirmation and reconciliation.

2. Previous Year Figures have been regrouped, rearranged, recalculated and reclassified whenever required.


Mar 31, 2018

1. Corporate Information

Rudra Global Infra Products Limited (Formerly known as “M.D. Inducto Cast Limited”) (“The Company”) was originally incorporated as Private limited Company on 16th September 2010 and having duly passed the necessary resolution on 11th May, 2015 in terms of Section 14 and other applicable provisions of the Companies Act, 2013, the constitution of company was changed to M.D. INDUCTO CAST LIMITED as per certificate dated 20th May, 2015.

The shares of the company were listed on Bombay stock exchange (SME) Platform as on 16th July 2015. During the year, the company has migrated from SME Platform to BSE Main Board w.e.f. 16th November, 2017, and also changed name to Rudra Global Infra Products Limited from M.D. Inducto cast Limited w.e.f. 26 th December, 2017.

The company is engaged in the business of manufacturing and trading the Billets and TMT Bars and also trading Rudra Cement.

The company has one wholly owned subsidiary, namely Rudra Aerospace & Defense Private Limited. The subsidiary company is in its business plans implementation stage.

2. In the opinion of the Board of Directors, Current Assets, Loans & Advances have a value on realization at least equal to the amount at which they are stated in the Balance Sheet. Adequate provision have been made in the accounts for all the known.

3. Previous year figures have been regrouped/ rearranged wherever necessary so as to make them comparable with current year figures.

4. The balance of sundry creditors, sundry debtors, loans & advances are unsecured considered goods and are subject to confirmation.

As per records of the Company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.

Terms/rights, preferences and restrictions attached to each class of shares Equity shares:

The Company has only one class of equity shares having par value of Rs.10 per share. Each holder of equity share is entitled to one vote per share. The dividend proposed by the board of directors is subject to approval of the share holders at the ensuing Annual General Meeting.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company after payment of all liabilities. The distribution will be in proportion to the number of equity shares held by the shareholders.

For the financial year ended March 31, 2018, the company has proposed dividend of Rs. 1 per equity share subject to approval of the shareholders in Annual General Meeting.

5. Details of securities for various borrowing:

a) Secured by an exclusive first charge by way of hypothecation of specific plant and machinery and all other specific movables, both present and future, purchased out of the loan and hypothecation of movables (save & except book debts) including movable plant and machinery, both present and future. Also by Equitable mortgage of Company’s immovable properties located at Nesada Taluka- Sihor, Bhavnagar with all buildings and structures and plant and machinery thereon with loans and also by personal guarantee of Directors.

b) Long Term Finance from HDFC Bank Limited is secured by Hypothecation Charge on two Trucks.

Term Loans of Rs. 33.50 Lakh is Repayable in Equal Monthly Instalments Of Rs. 1,11,570/- including interest commencing from 12th January, 2013. There is no overdue interest as at 31.03.2018.

c) Long Term Finance from SIDBI is secured by Hypothecation Charge on Windmill.

Term Loans of Rs. 900.00 Lakh is Repayable in Equal Monthly Instalments of Rs. 11,50,000/- including interest commencing from 30th March 2017. There is no overdue interest as at 31.03.2018.

d) Long Term Finance from AXIS BANK is secured by Hypothecation Charge on Two Truck.

Term Loans of Rs. 30.00 Lakh is Repayable in Equal Monthly Instalments of Rs. 78,432/- including interest commencing from 20th February, 2014 and ending on December, 2018. There is no overdue interest as at 31.03.2018

e) Long Term Finance from HDFC Bank is Secured by Hypothecation Charge on ESCORT CRANE 14-T.

Term Loans of Rs. 12.00 Lakh is Repayable in Equal Monthly Instalments of Rs. 31,250/- including interest.

f) Long Term Finance from MAGMA FIN CORP LIMITED is secured by Hypothecation Charge on LOADER BACKHOE. Term Loans of Rs. 18.00 Lakh is Repayable in Equal Monthly Instalments of Rs. 45,400/- including interest.

g) Long Term Finance from AXIS BANK is secured by Hypothecation Charge on Crane

Term Loans of Rs. 12.78 Lakh is Repayable in Equal Monthly Instalments of Rs. 32,746/- including interest commencing from 5th June, 2014 and ending on May, 2018. There is no overdue interest as at 31.03.2018

h) Long Term Finance from ICICI BANK is secured by Hypothecation Charge on Car (Mercedes Benz).

Term Loans of Rs. 65.00 Lakh is Repayable in Equal Monthly Instalments of Rs. 1,37,000/- including interest commencing from 10th December, 2014 and ending on October, 2019. There is no overdue interest as at 31.03.2018

i) Long Term Finance from ICICI BANK is secured by Equitable Mortgage on Non - Residential Premises at Ahmedabad.

Term Loans of Rs. 59.07 Lakh is Repayable in Equal Monthly Instalments of Rs. 87,329/- including interest commencing from June, 2014 and ending on May, 2024. There is no overdue interest as at 31.03.2018

j) Long Term Finance from Punjab National Bank is secured by hypothecation charge on Windmills and personal guarantee of Directors. The term loan of Rs. 3.15 Crores is repayable in 60 equal monthly instalments of Rs. 5,25,000/-including interest commencing from March, 2015 and ending on April, 2020. There is no overdue interest as at 31.03.2018.

k) Long Term Finance from HDFC Bank Limited is secured by Hypothecation Charge on Car -Toyota Innova Car.

Term Loans of Rs. 21.00 Lakh is repayable in Equal Monthly Instalments of Rs. 64,290/- including interest commencing from November, 2017. There is no overdue interest as at 31.03.2018.

l) Long Term Finance from SIDBI is secured by Hypothecation Charge on Windmill.

Term Loans of Rs. 900.00 Lakh is repayable in Principal Monthly Instalments of Rs. 11,50,000/- starting from August, 2018.

m) Long Term Finance from ICICI BANK is secured by Equitable Mortgage on vehicle- TATA Tiago.

Term Loans of Rs. 5.96 Lakh is repayable in Equal Monthly Instalments of Rs. 18,815/- including interest commencing from November, 2017 and ending on May, 2024. There is no overdue interest as at 31.03.2018.

a) Details of security:

Working Capital facility from banks are secured by

a) Primary Security- first charge on present and future receivables and inventories of the Company.

b) Collateral Security- Hypothecation of Fixed Assets, Fixed deposits lien marked to banks and Immovable properties - belonging to promoter & others.

c) Personal guarantees of directors

Note: 1.1 RELATED PARTY DISCLOUSER

Transactions with Related parties as specified under Accounting Standard -18 issued by the Institute of Chartered

Accountant of India-

Key management personnel on board

Mr. Ashok Kumar Gupta - Chairman & Director

Mr. Nikhil Gupta - Managing Director

Mrs. Shamarani Gupta - Woman Director

Mr. Himanshu Desai - Independent Director

Mr. Vikram Shah - Independent Director

Mr. Vinod Jangind - Independent Director

Mr. Arvind Jejurikar - Chief Financial Officer

Mr. Vimal Dattani - Company Secretary

Relative of Key Managerial personnel

Mr. Sahil Gupta - Brother of Managing Director

Mrs. Shrishti Gupta - Wife of Managing Director

Enterprises over which Key Managerial Personnel exercises significant influence

Harikrishna Steel Corporation - As Partnership firm in which Director is partner

Chintamani Oxygen - As Partnership firm in which Director is partner

M D Jewels - As Partnership firm in which Director is partner

M D Steel - Enterprises over which Director’s relative exercise significant influence

Note: 1. 2 CORPORATE SOCIAL RESPONSIBILTY EXPEN SES

The Company has constituted a CSR committee as required under Section 135 of the Act, together with relevant rules as prescribed in Companies (Corporate Social Responsibility Policy) Rules, 2014 (‘CSR rules’). During the year, based on these rules the amount was to be spent for CSR activities was Rs. 17.28 Lakh and Rs.15.81 Lakhs for F.Y: 2016-17, whereas the Company has spend an amount of Rs. 13.52 Lakhs and Rs.2.77 Lakhs for FY: 2017-18 and FY: 2016-17 respectively towards Corporate Social Responsibility. Management and CSR committee are in the process of finding better avenues of CSR Expenditure to be incurred in near future.

Note: 1.3 CONTINGENT LIABILITIES

The Company has given Bank Guarantees in favour of M/s. Harikrishna Steels Corporation, in which the Directors are interested for Working Capital Finance of Rs. 88.00 Cr. availed by them from Punjab National Bank, Bhavnagar Branch. The outstanding amounts of such finance availed by Harikrishna Steel Corporation as at 31.03.2018 is Rs.88.00 Cr.

Note: 1. 4 GRATUITY

The company has a defined benefit gratuity plan its employees. Under the gratuity plan, every employee who has completed at least five years of service gets a gratuity on departure at 15 days of last drawn salary for each employed year of service.

The company has made provision for gratuity payments for the year. The following tables summarize the components of net benefit expenses recognised in the statement of profit and loss, the funded status and amount recognised in the balance sheet.

Statement of Profit and Loss

Net employee benefit expenses recognised in the employee cost

Note: 1. 5 SEGMENT REPORTING

Segment Reporting: As the Company’s business activity primarily falls within a single business segment i.e. MS billets and MS TMT Bars, there are no additional disclosures to be provided under Accounting Standard 17-”Segment Reporting”. The management considers that the various goods and services provided by the Company constitutes single business segment, since the risk and rewards from these services are not different from one another.


Mar 31, 2016

1. in the opinion of the Board of Directors, Current Assets, Loans & Advances have a value on realization at least equal to the amount at which they are stated in the balance Sheet. Adequate provision have been made in the accounts for all the known.

2. Previous year figures have been regrouped/rearranged wherever necessary so as to make them comparable with current year figures.

3. The balance of sundry creditors, sundry debtors, loans & advances are unsecured considered goods and are subject to confirmation.

4.. Additional Information as required

5. Details of Security:

6. Secured by an exclusive first charge by way of hypothecation of specific plant and machinery and all other specific movables, both present and future, purchased out of the lean and hypothecation of movables (save & except book debts) including movable plant and machinery, both present and future. Also by Equitable mortgage of Company''s immovable properties located at Nesada Taluka Sihor, Bhavnagar with ail buildings and structures and plant and machinery thereon on pari passu basis with loans and also by personal guarantee of Directors.

7. Long Term Finance from HDFC flank Limited Is secured by hypothecation Charge on two Trucks.

Term Loans of Rs. 33.50 Lacs Is Repayable in Equal Monthly installments Of Rs, 1,11,570/- including interest commencing from 12th January, 2013 and ending on December 2015. There is no overdue interest as at 31,03,2016.

8. Long Term Finance from I GO Ban k is Secured by hypothecation Charge On Car (Skoda). Term Loans of Rs. 22,90 Lacs is Repayable in Equal Monthly Installments Of Rs. 72,675/- including interest commencing from 2nd January 2013 and ending on December, 2015. There is no overdue interest as at 31,03.2016

9. Long Term Finance from AXIS bank is Secured by Hypothecation Charge on LOADER. Term Loans of Rs. 30.00 Lacs is Repayable in Equal Monthly Installments Of Rs. 78,432/- including interest commencing from 20th February, 2014 and ending on December 2018. There is no overdue interest as at 31,03,2016

10. Long Term Finance from HDFC Bank and is Secured by Hypothecation Charge On ESCORT CRANE 14-T. Term Loans of Rs. 12.00 Lacs is Repayable in Equal Monthly Installments Of Rs. 31,250/- including interest commencing from 22nd May 2013 and ending on April, 2017. There is no overdue interest as at 31.03.2016

11. Long-term Finance from MAGMA FIN CORP LIMITED is Secured by Hypothecation Charge on LOADED BACKHOE,

Term Loans of Rs. 13.00 Lacs is Repayable In Equal Monthly installments Of Rs. 45,400/- including interest commencing from 1st December, 2013 and ending on October, 2017. There Is no overdue interest as at 31.03.2016

12. Long Term Finance from AXES BAN K is secured by Hypothecation charge on Crane Term Loans of Rs. 12.7S90 Lacs is Repayable In Equal Monthly Installments of Rs. 32,746/- including interest commencing from 5th June, 2014 and ending on May, 201S. There is no overdue interest as at 31.03.20IS

13. Long Term Finance from ICICI BANK is secured by Hypothecation Charge on Car (Mercedes Ben*},

Term Loans of RS- 6S.OO Lacs Is Repayable in Equal Monthly Installments of Rs. 1,37,000/- including interest commencing from 10th December, 2014 and ending on October, 2019- There is no overdue interest as at 31.03,2016

14. Long Term Finance from ICICI BANK is secured by Equitable Mortgage on Non - Residential Premises at Ahmedabad-

Term Loans of Rs. S9,07 Lacs is Repayable In Equal Monthly Installments of Rs. 87,329/- including interest. commencing from June, 2014 and ending on May, 2024. There is no overdue interest as at 31.03.2016

15. Long Term finance from Punjab National Bank is secured by hypothecation charge on Windmills and personal guarantee of Directors. The term loan of Rs, 3-15 Crores is repayable in 60 equal monthly installments of Rs, 5,25,000/-including interest. commencing from March, 2015 and ending on April, 2020. There is no overdue interest as at 31-03.2016

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