Mar 31, 2017
1 Disclosure as required by Accounting Standard - AS 17 âSegment Reportingâ, issued by the Institute of Chartered Accountants of India.
The entire operations of the Company relate to only one segment viz. âPharmaceuticalsâ. As such, there is no separate reportable segment under Accounting Standard-AS 17 on Segment Reporting.
2 Disclosure as required by Accounting Standard - AS 20 âEarning Per Shareâ, issued by the Institute of Chartered Accountants of India.
The Company has not issued any potential diluted equity share and therefore the Basic and Diluted earning per Share will be the same. The earning per share is calculated by dividing the profit after tax by weighted average number of shares outstanding.
3 In the opinion of the Board of Directors, all the assets other than fixed assets and non current investments have value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet.
4 The Balance Sheet, Statement of Profit & Loss, Cash Flow Statement, Statement of significant accounting policy and other explanatory notes form an integral part of the financial statements of the Company for the year ended on 31st March, 2017
5 Previous yearâs figures have been regrouped and re-arranged wherever necessary to make them comparable.
Mar 31, 2016
1. contingent asset is neither recognized nor disclosed in the financial statements.
Note: 2) Employerâs contribution includes payments made by the Company directly to its past employees.
3. The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market.
4. The Companyâs Gratuity fund is managed by Life Insurance Corporation of India. The plan assets under the fund are deposited under approved securities.
5. Disclosure as required by Accounting Standard - AS 20 âEarning Per Shareâ, issued by the Institute of Chartered Accountants of India
The Company has not issued any potential diluted equity share and therefore the Basic and Diluted earnings per Share will be the same. The earnings per share is calculated by dividing the profit after tax by weighted average number of shares outstanding.
6. In the opinion of the Board of Directors, all the assets other than fixed assets and noncurrent investments have value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet.
7. The Balance Sheet, Statement of Profit & Loss, Cash Flow Statement, Statement of significant accounting policy and other explanatory notes form an integral part of the financial statements of the Company for the year ended on 31st March, 2016
8. Previous yearâs figures have been regrouped and re-arranged wherever necessary to make them comparable.
Mar 31, 2015
1 Disclosure as required by Accounting Standard - AS 17 "Segment
Reporting", issued by the Institute of Chartered Accountants of
India.
The entire operations of the Company relate to only one segment viz.
"Pharmaceuticals". As such, there is no separate reportable segment
under Accounting Standard-AS 17 on Segment Reporting.
2 Contingent Liabilities not provided for in respect of :
Particulars 2014-15 2013-14
i Counter Guarantees given to AXIS Bank in
respect of guarantees given by the 2,70,175 2,40,885
bank on behalf of the Company to Government
Authorities.
ii Estimated amount of contracts remaining
to be executed on capital account.(Net 39,51,258 -
of Capital Advances)
iii Other moneys for which the Company is
contingently liable for tax, excise, - -
customs and other matters not accepted by
the Company
3 In the opinion of the Board of Directors, all the assets other than
fixed assets and non current investments have value on realisation in
the ordinary course of business atleast equal to the amount at which
they are stated in the Balance Sheet.
4 The Balance Sheet, Statement of Profit & Loss, Cash Flow Statement,
Statement of significant accounting policy and other explanatory notes
form an integral part of the financial statements of the Company for
the year ended on 31st March, 2015
5 Previous year's figures have been regrouped and re-arranged wherever
necessary to make them comparable.
Mar 31, 2013
1 Disclosure as required by Accounting Standard - AS 17 "Segment
Reporting", issued by the Institute of Chartered Accountants of India
The entire operations of the Company relate to only one segment viz.
"Pharmaceuticals". As such, there is no separate reportable segment
under Accounting Standard-AS 17 on Segment Reporting.
2 Contingent liabilities not
provided for in respect of :
Particulars 2012-13 2011-12
(Rs) (Rs)
i Counter Guarantees given to
AXIS Bank in 2,22,729 1,58,676
respect of guarantees given
by the Bank on behalf of the
Company to Government
Authorities.
ii Estimated amount of
contracts remaining - -
to be executed on capital
account.(Net of Capital
Advances)
iii Other moneys for which the
Company is - 11,96,426
contingently liable for tax,
excise, customs and other
matters not accepted by
the Company
3 In the opinion of the Board of Directors, all the assets other than
fixed assets and noncurrent investments have value on realization in
the ordinary course of business at least equal to the amount at which
they are stated in the Balance Sheet.
4 The Balance Sheet, Statement of Profit & Loss, Cash Flow Statement,
Statement of significant accounting policy and other explanatory notes
form an integral part of the financial statements of the Company for
the year ended on 31st March, 2013.
5 Previous year''s figures have been regrouped and re-arranged
wherever necessary to make them parable.
Mar 31, 2012
1 Disclosure as required by Accounting Standard - AS 17 "Segment
"Reporting', issued by the Institute of Chartered Accountants of India
The entire operations of the Company relate to only one segment viz.
'Pharmaceuticals. As such, there is no separate reportable segment
under Accounting Standard-AS 17 on Segment Reporting.
2 Contingent liabilities not provided for in respect of :
2011-2012 2010-2011
Rupees Rupees Rupees Rupees
i Corporate Guarantee
given to AXIS Bank 1,50,00,000 1,50,00,000
Ltd on behalf of M/s
Hale wood Laboratories
Pvt. Ltd, under third
party manufacturing
arrangement for which
the Company holds
counter Guarantee.
ii Counter Guarantees
given to AXIS Bank & 1,58,676 1,68,024
State Bank
of India in respect of
guarantees
given by the bank on
behalf of the Company to
Government Authorities.
iii Estimated amount of
contracts remaining to - 27,32,000
be executed
on capital account.(Net
of Capital Advances)
iv Other moneys for which
the Company is 11,96,426 -
contingently
liable for tax, excise,
customs and
other matters not accepted
by the Company
3 In the opinion of the Board of Directors, all the assets other than
fixed assets and noncurrent investments have value on realization in
the ordinary course of business at least equal to the amount at which
they are stated in the Balance Sheet.
4 Prior period comparatives
The Company has reclassified the published previous year figures to
conform to the norms of the Revised Schedule VI. The adoption of the
revised Schedule VI does not impact recognition and measurement
principles followed for preparation of the financial statements.
However, it significantly impacts presentation and disclosures made in
the financial statements, particularly presentation of Balance Sheet.
5 The Balance Sheet, Statement of Profit & Loss, Cash Flow Statement,
Statement of significant accounting policy and other explanatory notes
form an integral part of the financial statements of the company for
the year ended on 31st March, 2012.
Mar 31, 2011
31.03.2011 31.03.2010
Rupees Rupees
1. Contingent liabilities
not provided for in respect of:
a) Corporate Guarantee given to
AXIS Bank Ltd on behalf of Halewood
Laboratories 1,50,00,000 1,50,00,000
Pvt. Ltd, under third party
manufacturing arrangement for
which the Company
holds counter Guarantee.
b) Counter Guarantees given to
AXIS Bank & State Bank of India in
respect 1,68,024 2,60,635
of guarantees given by the bank
on behalf of the Company to
Government Authorities.
2. Pursuant to scheme of amalgamation (the scheme) of the
Harleystreet Pharmaceuticals Ltd. ( HPL) with the company Makers
Laboratories Limited, (MLL) under Section 391 to 394 of the Companies
Act, 1956 as sanctioned by the Honorable High Court of Judicature at
Bombay vide its order dated 25th March, 2011, the assets and
liabilities of the said HPL were transferred to and vested in the
Company with effect from the appointed date i.e. 1st April, 2010.
Accordingly, this scheme of amalgamation has been given effect to in
these accounts.
HPL was engaged in the business of manufacturing of pharmaceutical
formulations.
The accounting for this amalgamation has been done in accordance with
the "Purchase Method "referred in Accounting Standard 14 - Accounting
for Amalgamation (AS -14). Accordingly, MLL has accounted for the
Scheme in its books of accounts with effect from the Appointed Date
i.e. 1st April, 2010 as under :-
I With effect from the Appointed Date, all assets and liabilities
appearing in the books of accounts of HPL have been transferred to and
vested in MLL and have been recorded by MLL at their fair value.
II. MLL has credited to the Share Capital in its books of account, the
aggregate face value of the New Equity Shares to be issued and allotted
under the scheme to the equity share holders of HPL.
III. The difference of Rs. 2,85,59,499/- between the fair value of net
assets of HPL transferred to MLL, pursuant to this scheme and the value
of New Equity Shares to be issued and allotted by MLL to shareholders
of HPL has been credited to capital reserve account.
IV. All inter - company balance(s) have been cancelled.
V. 571,440 Equity Shares of MLL of Rupees 10/- each fully paid up are
to be issued to the shareholders of HPL under this amalgamation, in the
ratio of 6 fully paid up equity shares of Rs. 10/- each of MLL for
every 10 fully paid up equity shares of Rs. 10/- each of HPL. The
record date fixed for this purpose is 13th May,2011.
VI. The Company shall proceed to issue these equity shares to the
shareholders of HPL in due course of time upon receipt of necessary in
principle listing and trading permissionsf rom stock exchanges where
the Companys share are listed. The Company has already made necessary
applications to these stock exchanges in this regard.
3. In view of the aforesaid amalgamation, the figures for the current
year are not strictly comparable to those of the previous year.
4. Secured Loan from Axis Bank Ltd is secured by way of mortgage of
immovable properties of the Company situated at Mumbai and Dombivli,
hypothecation of all plant and machineries both present and future and
hypothecation of stock- in-trade and book debts.
5. In the opinion of the Board of Directors, all the Current Assets,
Loans & Advances have value on realisation at least equal to the amount
at which they are stated in the Balance Sheet
6. Provision for Taxation includes provision for Wealth Tax of Rs.
5,000/- (previous year Rs.5,000/-).
7. Balances with Scheduled Banks include Rs. 2,47,157/- (previous
year Rs. NIL) on account of Unclaimed Dividend.
8. The Company has obtained details from Sundry Creditors who are
registered under the Micro,Small & Medium Enterprises Development Act,
2006. To the extent that the Company has received information it has
evaluated that there are no amounts due to the Creditors who are
Registered under the said Act beyond the period of 45 days.
9. Managerial Remuneration:
iii) Company has not recommended any commission to the Wholetime
Directors.
10. Related Party Disclosure as required by Accounting Standard -18
issued by the Institute of Chartered Accountant of India:
Relationships:
A. Entities where control exists:
Shareholders of Makers Laboratories Ltd.
Kaygee Investments Pvt. Ltd.
Exon Laboratories Pvt. Ltd.
Paschim Chemicals Pvt. Ltd.
Others
Halewood Laboratories Pvt.Ltd.
Ellora Organic Industries Pvt Ltd.
B. Key Management Personnel
Mr. Prashant Godha
Mrs. Purnima Jain
C. Associates
Ipca Laboratories Ltd.
D. Other Related Parties (Entities in which Directors or their
Relatives have significant influence)
Nipra Industries Pvt. Ltd.
Kaygee Loparex Pvt. Ltd
Keymed
11. The Company has one segment of activity namely "Pharmaceuticals".
As such there is no separate reportable segment under Accounting
Standard -17 on Segment Reporting.
12. Previous years figures have been regrouped and re-arranged
wherever necessary.
Mar 31, 2010
1. Contingent liabilities not provided for in respect of:
(a) Corporate Guarantee given to AXIS Bank Ltd on behalf of Halewood
Laboratories 1,50,00,000 1,50,00,000 Pvt. Ltd, under third party
manufacturing arrangement for which the Company holds counter Guarantee.
(b) Counter Guarantees given to AXIS Bank & State Bank of India in
respect 2,60,635 2,98,445 of guarantees given by the bank on behalf of
the Company to Government Authorities.
2. Investments
The Company has made provision of Rs. 46,53,821/- towards dimunition in
the value of investments in shares of Mangalam Drugs & Organics Ltd.
Notes :-
(a) As the industrial licensing in respect of drugs and pharmaceuticals
produced by the Company has been abolished under the Industrial Policy,
the particulars of licensed capacity are not stated.
(b) Installed capacity, being of a technical nature is not verified by
the Auditors.
(c) Production includes production under contract manufacturing.
(d) Previous years figures are given in bracket.
i) Employers contribution includes payments made by the Company
directly to its past employees.
ii) The estimates of future salary increases, considered in actuarial
valuation, take account of inflation, seniority, promotion and other
relevant factors, such as supply and demand in the employment market.
iii) The Companys Gratuity fund is managed by Life Insurance
Corporation of India. The plan assets under the fund are deposited
under approved securities.
3. Secured Loan from Axis Bank Ltd is secured by way of mortgage of
immovable properties of the Company situated at Mumbai and Dombivli,
hypothecation of all plant and machineries both present and future and
hypothecation of stock-in-trade and book debts.
4. In the opinion of the Board of Directors, all the Current Assets,
Loans & Advances have value on realisation at least equal to the amount
at which they are stated in the Balance Sheet.
5. Provision for Taxation includes provision for Wealth Tax of Rs.
5,000/- (previous year Rs.5,000/-).
6. Balances with Scheduled Banks include Rs. NIL (previous year Rs.
NIL) on account of Unclaimed Dividend.
7. The Company has obtained details from Sundry Creditors who are
registered under the Micro, Small & Medium Enterprises Development Act,
2006. To the extent that the Company has received information it has
evaluated that there are no amounts due to the Creditors who are
Registered under the said Act beyond the period of 45 days.
iii) Company has not recommended any commission to the Wholetime
Directors.
8. Related Party Disclosure as required by Accounting Standard - 18
issued by the Institute of Chartered Accountants of India:
Relationships:
A. Entities where control exists: Shareholders of Makers Laboratories
Ltd.
Kaygee Investments Pvt. Ltd. Exon Laboratories Pvt. Ltd. Paschim
Chemicals Pvt. Ltd.
Others
Halewood Laboratories Pvt. Ltd. Ellora Organic Industries Pvt Ltd.
B. Key Management Personnel
Mr. Prashant Godha Mrs. Purnima Jain
C. Associates
Ipca Laboratories Ltd. Harleystreet Pharmaceuticals Ltd.
D. Other Related Parties (Entities in which Directors or their
Relatives have significant influence)
Nipra Industries Pvt. Ltd. Kaygee Loparex Pvt. Ltd. Keymed
9. The Company has one segment of activity namely "Pharmaceuticals".
As such there is no separate reportable segment under Accounting
Standard -17 on Segment Reporting.
10. Previous years figures have been regrouped and re-arranged
wherever necessary.
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