Notes to Accounts of National Plastic Technologies Ltd.

Mar 31, 2015

1. Credit for CENVAT of Excise duty on raw materials have been taken in Raw material A/c and Cenvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The unutilized Cenvat credit of Rs. 11,28,636 (Previous year Rs. 23,94,254/-) is shown under the Current Assets as "Cenvat Receivable A/c".

2. The Depreciation on various assets have been computed for various plants (HP, Guindy, IGK and Pondy) separately as per the Companies Act, 2013.

3. Previous year''s figures are re-grouped wherever considered necessary.

4. Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

5. Sales includes job work charges of Rs.44.68 Lakhs;(Previousyear-Rs.118.28lakhs)

6. Deferred Tax

(a) Deferred Tax has been accounted in accordance with the requirement of Accounting Standard on "Taxes on Income" (AS 22). Deferred Tax Assets are recognized on c/f unabsorbed depreciation and Business Loss as there is virtual certainty that sufficient future taxable income will be available against which such asset can be adjusted.

(b) The major components of the Deferred Tax Assets/Liabilities, based on the effect of the timing differences, as at 31st March 2015, are as under:

As a matter of prudence, deferred tax assets have been recognized only to the extent of deferred tax liability and as such there is no impact of the same on these accounts.

7. The company operates in only one business segment Viz. Injection Moulded Plastic Products.

8. Related Parties Disclosure

Disclosure as required by Accounting Standards 18" Related Party Disclosures" are given below

a) List of Related Parties

1. National Polyplast (India) Ltd - Associate Concern

2. National Plastic Industries - Associate Concern

3 National Autoplast - Associate Concern

4 Mr. Sudershan Parakh - Key Management Personnel

5 Mrs. Manju Parakh - Key Management Personnel

6 Mr. Alok Kumar Parakh - Key Management Personnel

7 Mr. E .Balasubramanian - Key Management Personnel

8 Mr. Arihant Parakh -Relative

9 Mr Kesari Chand Bhutoria -Relative

9. Amount payable to MSME units- outstanding for more than 30 days cannot be ascertained since we have not yet received the confirmation from our suppliers on their status of industrial undertaking.

The company does not have any outstanding dilutive potential equity shares. Consequently, the basic and diluted earnings per share of the company remain the same.

Lease payments/ receipts are subject to cancellation at the will and necessity and option to exercise cancellation by either party to the transaction. Hence the lease payments/receipts are not discounted for future cash flows. 46 As per the representation received from the management there is no impairment of loss to fixed assets.

10. Lease payments and receipts

Lease payments have been made towards an operating lease. As per the guidelines of the Accounting Standards on leases (AS 19) issued by the Institute of Chartered Accountants of India, these lease payments are debited to the profit and loss account on accrual basis.

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Mar 31, 2014

As at As at 31.03.2014 31.3.2013 (Rs.in Lakhs) (Rs.in Lakhs)

1 Contingent Liability not provided for (Rs.in lakhs)

(i) Guarantee 9.00 9.00

(ii)Letterof Credit-Inland 0.00 0.00

(Hi) Letterof Credit-Foreign 0.00 0.00

(iv) Bills Discounted 0.00 0.00

(v) Disputed Excise Liability 0.00 0.00

(vi) Disputed Income Tax Liability 0.00 0.00

(vii) Claims against Company not acknowledge as debt 0.00 0.00

2 Credit for CENVAT of Excise duty on raw materials have been taken in Raw material A/c and Cenvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The unutilised Cenvat credit of Rs. 23,94,254 (Previous year Rs. 11,07,889/-) is shown underthe CurrentAssets as "Cenvat Receivable A/c".

3 The Depreciation on various assets have been computed for various plants (HP, Guindy, IGKand Pondy)seperately as per the rates provided in Schedule XIV of the CompaniesAct.

4 Previous years figures are re-grouped wherever considered necessary.

5 Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

6 Sales includes jobwork charges of Rs.97.90 Lakhs;( Previous year- Rs. 173.95 lakhs)

7 Deferred Tax

(a) Deferred Tax has been accounted in accordance with the requirement of Accounting Standard on "Taxes on Income" (AS 22). Deferred Tax Assets are recognised on c/f unabsorbed depreciation and Business Loss as there is virtual certainity that sufficient future taxable income will be available against which such asset can be adjusted.

(b) The major components of the Deferred Tax Assets/ Liabilities, based on the effect of the timing As a matter of prudence, deferred tax assets have been recognised only to the extent of deferred tax liability and as such there is no impact of the same on these accounts.

8. The company operates in only one business segment Viz. Injection Moulded Plastic Products.

9. Related Parties Disclosure

Disclosure as required by Accounting Standards 18" Related Party Disclosures" are given below

a) List of Related Parties

1. National Polyplast (India) Ltd - Associate Concern

2. National Plastic Industries - Associate Concern

3 National Auto Plast - Associate Concern

4 Mr. Sudershan Parakh - Key Management Personnel

5 Mrs. Manju Parakh - Key Management Personnel

6 Mr. Alok Kumar Parakh - Key Management Personnel

7 Mr. E .Balasubramanian - Key Management Personnel

8 Mr. Arihant Parakh - Relative

9 Mr Kesari Chand Bhutoria - Relative

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Mar 31, 2013

1 Credit for CENVAT of Excise duty on raw materials have been taken in Raw material A/c and Cenvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The unutilised Cenvat credit of Rs. 11,07,889/- (Previous year Rs. 7,09,472/-) is shown under the Current Assets as "Cenvat Receivable A/c".

2 The Depreciation on various assets have been computed for various plants (HP, Guindy, IGKand Pondy) seperately as per the rates provided in Schedule XIV of the Companies Act.

3 Previous years figures are re-grouped wherever considered necessary.

4 Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

5 Sales includes jobwork charges of Rs.173.65 Lakhs;( Previous year- Rs.191.65 lakhs).

6 Deferred Tax

(a) Deferred Tax has been accounted in accordance with the requirement of Accounting Standard on "Taxes on Income" (AS 22).

(b) The major components of the Deferred Tax Assets/ Liabilities, based on the effect of the timing differences, as at 31 st March 2013, are as under:

7. The company operates in only one business segment Viz. Injection Moulded Plastic Products.

8 Related Parties Disclosure

Disclosure as required by Accounting Standards 18" Related Party Disclosures" are given below

a) List of Related Parties

1. National Polyplast (India) Ltd - Associate Concern

2. National Autoplast - Associate Concern

3. Mr. Sudershan Parakh - Key Management Personnel

4. Mrs. Manju Parakh - Key Management Personnel

5. Mr. Alok Kumar Parakh - Key Management Personnel

6. Mr.Arihant Parakh - Relative

7. Mr. Bachhraj Parakh - Relative

9 Amount payable to MSME units- outstanding for more than 30 days cannot be ascertained since we have not yet received the confirmation from our suppliers on their status of industrial undertaking.

10 Lease payments and receipts

Lease payments have been made towards an operating lease. As per the guidelines of the Accounting Standards on leases (AS 19) issued by the Institute of Chartered Accountants of India, these lease payments are debited to the profit and loss account on accrual basis.

11 As per the representation received from the management there is no impairment of loss to fixed I assets.

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Mar 31, 2012

1 Credit for CENVAT of Excise duty on raw materials have been taken in Raw material A/c and Cenvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The unutilised Cenvat credit of Rs.7,09,472/- (Previous year Rs.18,51,248/-) is shown under the CurrentAssets as "Cenvat Receivable A/c".

2 The Depreciation on various assets have been computed for various plants (HP, Guindy, IGK and Pondy) seperately as per the rates provided in Schedule XIV of the Companies Act.

3 Previous years figures are re-grouped wherever considered necessary.

4 Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

5 Sales includes jobwork charges of Rs. 191.65 Lakhs;( Previous year- Rs. 124.61 lakhs).

6 Deferred Tax

(a) Deferred Tax has been accounted in accordance with the requirement of Accounting Standard on "Taxes on Income" (AS 22). Deferred Tax Assets are recognised on c/f unabsorbed depreciation and Business Loss as there is virtual certainity that sufficient future taxable income will be available against which such asset can be adjusted.

7 The company operates in only one business segment Viz. Injection Moulded Plastic Products.

8 Amount payable to MSME units- outstanding for more than 30 days cannot be ascertained since we have not yet received the confirmation from our suppliers on their status of industrial undertaking.

9 As per the representation received from the management there is no impairment of loss to fixed assets.

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Mar 31, 2010

1 Credit for Cenvat of Excise duty on raw materials have been taken in Raw material A/c and Cenvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The unutilised modvat credit of Rs. 2,71,686 (Previous year Rs. 7,15,401/-) is shown under the Current Assets as "Cenvat Receivable A/c".

2 The Depreciation on various assets have been computed for various plants (HP, Guindy, IGK and Pondy) seperately as per the rates provided in Schedule XIV of the Companies Act.

3 Previous years figures are re-grouped wherever considered necessary.

4 Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

Sales includes jobwork charges of Rs 92.15 Lakhs; ( Previous year- Rs. 179.09 lakhs)

5 Other income includes profit on sale of assets Rs. 15.03 Lacs.

6 Deferred Tax

(a) Deferred Tax has been accounted in accordance with the requirement of Accounting Standard on " Taxes on Income" (AS 22). Deferred Tax Assets are recognised on c/f unabsorbed depreciation and Business Loss as there is virtual certainity that sufficient future taxable income will be available against which such asset can be adjusted.

As a matter of prudence, deferred tax assets have been recognised only to the extent of deferred tax liability and as such there is no impact of the same on these accounts.

7 The company operates in only one business segment viz. Injection Moulded Plastic Products.

8 Related Parties Disclosure

Disclosure as required by Accounting Standards 18 " Related Party Disclosures" are given below

a) List of Related Parties

1. National Polyplast (India) Ltd - Associate Concern

2. National Plastic Industries - Associate Concern

3 Mr. Sudershan Parakh - Key Management Personnel

4 Mrs. Manju Parakh - Key Management Personnel

5 Mr. Alok Parakh - Key Management Personnel

6 Mr. Arihant Parakh - Relative

7 Mr Keshari Chand Bhutoria - Relative

9 Amount payable to Small scale Industrial units- outstanding for more than 30 days cannot be ascertained since we have not yet received the confirmation from our suppliers on their status of industrial undertaking.

10 Imports & Foreign Currency details

11 Lease payments and receipts

Lease payments have been made towards an operating lease of an Injection Moulding Machine. As per the guidelines of the Accounting Standards on leases (AS 19) issued by the Institute of Chartered Accountants of India, these lease payments are debited to the profit and loss account on accrual basis.

Lease payments/ receipts are subject to cancellation at the will and necessity and option to exercise cancellation by either party to the transaction. Hence the lease payments/ receipts are not discounted for future cash flows.

12 Bank Guarantee for Rs.9.00 lacs has been furnished to Electricity Department, Pondicherry. As the Company is regular in paying the electricity charges, no provision for the contingent liability has been considered necessary as per AS 29 .

13 As per the representation received from the management, there is no impairment of loss to fixed assets.

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Mar 31, 2009

As At As At 31.3.2009 31.3.2008 (Rs.in Lakhs) (Rs.in Lakhs)

1. Estimated amounts of contracts to be executed on Capital Accounts and not provided for (net of advance) (Rs.in lakhs) 12 165

2. Contigent Liability not provided for (Rs. in lakhs)

(I) Guarantee 9 9

(ii) Letter of Credit - Inland 0 0

(iii) Letter of Credit-Foreign 0 0

(iv) Bills Discounted 0 0

(v) Disputed Excise Liability 0 0

(vi) Disputed Income Tax Liability 0 0

(vii) Claims against Company not acknowledge as debt 0 0

3 Credit for CENVAT of Excise duty on raw materials have been taken in Raw material A/c and Cenvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The unutilised Modvat credit of Rs.7,15,401/-(PreviousyearRs.32,33,722/-)isshownunderthe Current Assets as "Modvat Receivable A/c".

4 The Depreciation on various assets have been computed for various plants (HP, Guindy, IGK and Pondy) seperately as per the rates provided in Schedule XIV of the Companies Act.

5 Previous years figures are re-grouped wherever considered necessary.

6 Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

7 Sales includes jobwork charges of Rs 179.09 Lakhs; (Previous year- Rs.316.87 lakhs)

8 Other income includes prof it on sale of assets Rs.27.42 Lacs.

9 Deferred Tax

(a) Deferred Tax has been accounted in accordance with the requirement of Accounting Standard on " Taxes on Income" (AS 22). Deferred Tax Assets are recognised on c/f unabsorbed depreciation and Business Loss as there is virtual certainity that sufficient future taxable income will be available against which such asset can be adjusted.

10 The company operates in only one business segment Viz. Injection Moulded Plastic Products

11 Related Parties Disclosure

Disclosure as required by Accounting Standards 18 " Related Party Disclosures" are given below

a) List of Related Parties

1. National Polyplast (India) Ltd -Associate Concern

2. National Plastic Industries -Associate Concern

3. Mr. Sudershan Parakh - Key Management Personnel

4 Mrs. Manju Parakh - Key Management Personnel

5 Mr. Alok Kumar Parakh - Key Management Personnel

6 Mr.Arihant Parakh -Relative

7 MrKesariChandBhutoria -Relative

12 Amount payable to Small scale Industrial units- outstanding for more than 30 days cannot be ascertained since we have not yet received the confirmation from our suppliers on their status of industrial undertaking.

13 Software for Computers has been shown under "Fixed Assets" underthe head Computers instead of showing it as intangible assets as per A.S.26. The cost of software has been amortised under straight line method at 16.21%.

14 Bank Guarantee for Rs.9.00 lacs has been furnished to Electricity Department, Pondicherry. As the Company is regular in paying the electricity charges, no provision for the contingent liability has been considered necessary as per AS.29.

15 As per the representation received from the management there is no impairment of loss to fixed assets.

16 We have capitalized Rs.4,44,672/- being interest charges towards fixed assets for the year at Irungattukottai plant. (Previous year Rs. 12,30,412/-)

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Mar 31, 2008

1. Contigent Liability not provided for (Rs. in lakhs)

(i) Guarantee 9.00 9.00 (ii) Letter of Credit - Inland - - (iii) Letter of Credit - Foreign - - (iv) Bills Discounted - - (v) Disputed Excise Liability - - (vi) Disputed Income Tax Liability - - (vii) Claims against Company not - - acknowledge as debt

2 Credit for CENVAT of Excise duty on raw materials have been taken in Raw material A/c and Cenvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The unutilised Modvat credit of Rs.3233722/- is shown under the Current Assets as "Modvat Receivable A/c".

3 The Depreciation on various assets have been computed for Chennai and Puducherry plants separately as per the rates provided in Schedule XIV of the Companies Act.

4 Previous years figures are re - grouped wherever considered necessary.

5 Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

6 Sales includes jobwork charges of Rs.316.87 Lakhs (Previous year Rs.529.51 lakhs)

7 Miscellaneous income includes Rs. NIL received towards commission. (Previous year Rs. 21.46 Lakhs)

8 Deferred Tax

(a) Deferred Tax has been accounted in accordance with the requirement of Accounting Standard on " Taxes on Income" (AS 22). Deferred Tax Assets are recognised on of unabsorbed depreciation and Business Loss as there is virtual certainity that sufficient future taxable income will be available against which such asset can be adjusted.

9 The company operates in only one business segment Viz. Injection Moulded Plastic Products

10 Related Parties Disclosure

Disclosure as required by Accounting Standards 18 " Related Party Disclosures" are given below

a) List of Related Parties

1. National Polyplast (India) Ltd -Associate Concern

2. National Plastic Industries -Associate Concern

3. Mr. Sudershan Parakh - Key Management Personnel

4. Mrs. Manju Parakh -Relative

5. Mr. Alok Kumar Parakh - Key Management Personnel

6. Mr.Arihant Parakh -Relative

11 Amount payable to Small scale Industrial units- outstanding for more than 30 days cannot be ascertained since we have not yet received the confirmation from our suppliers on their status of industrial undertaking.

12 Lease payments and receipts

Lease payments have been made towards an operating lease of an Injection Moulding Machine. As per the guidelines of the Accounting Standards on leases (AS 19) issued by the Institute of Chartered Accountants of India, these lease payments are debited to the profit and loss account on accrual basis. Minimum Lease payments:

- not later than 1 year Nil - later than 1 year but not later than 5 years Nil - Iater than 5 years Nil

Lease payments/ receipts are subject to cancellation at the will and necessity and option to exercise cancellation by either party to the transaction. Hence the lease payments/ receipts are not discounted for future cash flows.

13 Software for Computers has been shown under "Fixed Assets" under the head Computers instead of showing it as intangible assets as per A.S.26. The cost of software has been amortised under straight line method at 16.21%.

14 Bank Guarantee for Rs.9.00 lacs has been furnished to Electricity Department, Pondicherry. As the Company is regular in paying the electricity charges, no provision for the contingent liability has been considered necessary as per AS.29.

15 As per the representation received from the management there is no impairment of loss to fixed assets.

16 We have capitalized Rs. 12,30,412/- being interest charges towards fixed assets for the year at Irungattukottai plant.

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Mar 31, 2007

1. Contigent Liability not provided for (Rs. in lakhs)

(i) Guarantee 9.00 9.00 (ii) Letter of Credit - Inland - - (iii) Letter of Credit- Foreign - - (iv) Bills Discounted - - (v) Disputed Excise Liability - - (vi) Disputed Income Tax Liability - - (vii) Claims against Company not - - acknowledge as debt

2. Credit for CENVAT of Excise duty on raw materials have been taken in Raw material A/c and Cenvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The. unutilised Modvat credit of Rs.9435388/- is shown under the Current Assets as "Modvat Receivable A/c".

3. The Depreciation on various assets have been computed for Chennai and Pondicherry plants seperately as per the rates provided in Schedule XIV of the Companies Act.

4. Previous years figures are re-grouped wherever considered necessary.

5. Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

6. Sales includes jobwork charges of Rs.529.51 Lakhs;( Previous year-Rs.513.23 lakhs)

7. Miscellaneous income includes Rs. 21.46 lakhs received towards commission, (Previous year Rs. 31.20 Lakhs)

8. Deferred Tax ,

(a) Deferred Tax has been accounted in accordance with the requirement of Accounting Standard on " Taxes on Income" (AS 22). Deferred Tax Assets are recognised on c/f unabsorbed depreciation and Business Loss as there is virtual certainity that sufficient future taxable income will be available against which such asset can be adjusted.

9. Amount payable to Small scale Industrial units- outstanding for more than 30 days cannot be ascertained since we have not yet received the confirmation from our suppliers on their .status of industrial undertaking.

10. Software for Computers has been shown under "Fixed Assets" under the head Computers instead of showing it as intangible assets as per A.S.26. The cost of software has been amortised under straight line method at 16.21%.

11. Bank Guarantee for Rs.9.00 lacs has been furnished to Electricity Department, Pondicherry. As the Company is regular in paying the electricity charges, no provision for the contingent liability has been considered necessary as per AS.29.

12. As per the representation received from the management there is no impairment of loss to fixed assets.

13. Credit Balances in partys accounts have been written back and adjusted against purchases.

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Mar 31, 2006

As At As At 31.3.2006 31.3.2005 (Rs.in Lakhs) (Rs.in Lakhs) 1. Estimated amounts of contracts to be executed on Capital Accounts and not provided for (net of advance) 139.09 0.00 (Rs. in lakhs)

2. Contigent Liability not provided for (Rs. in lakhs)

(i) Guarantee 9.00 9.00

(ii) Letter of Credit-Inland 0.00 0.00

(iii) Letter of Credit-Foreign 0.00 0.00

(iv) Bills Discounted 0.00 0.00

(v) Disputed Excise Liability 0.00 0.00

(vi) Disputed Income Tax Liability 0.00 0.00

(vii) Claims against Company not acknowledge as debt 0.00 0.00

3 Licenced and installed capacity given below :-

Plastic Moulded Components licenced Capacity NA NA

Plastic Moulded Components Installed Capacity 3500 tons 3500 tons

For the Period ended For the Period ended 31.3.2006 31.3.2005 5. Raw Material Consumed Item Qty Value Qty Value Mts Rs. Mts Rs.

1. Polypropylene 1657.062 101836176 1210.080 68263074

2. Polystrene 327.815 26219804 274.504 21011059

3. PVC 16.125 950804

4. ABS 45.648 6836192 0.9 108266

5. Pet Resin 51.199 4261797 0 0

6. Components 10228766 0 0

7. Others 518739 4538388

2081.724 153568474 1501-609 94871591

LESS : CENVAT CREDIT 18571291 14802765

134997183 80068826

Whereof: % - % -

Imported 0 0

Indigeneous 100 134997183 100 80068826

100 134997183 100 80068826

6. Managerial Remuneration:

Salary 630000 420000

Contribution to Provident and Superannuation fund 75600 50400

Other Perquisites 262576 257744

7. The Depreciation on various assets have been computed for Chennai and Pondicherry plants seperately as per the rates provided in Schedule XIV of the Companies Act.

8 Previous years figures are re-grouped wherever considered necessary.

9. Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

10 Sales includes jobwork charges of Rs.513.23 Lakhs; (Previous year- Rs.617.10 lakhs)

11 Miscellaneous income includes Rs.31.20 lakhs received towards commission. (Previous year-Rs.41.79 Lakhs)

12 Deferred Tax

(a) Deferred Tax has been accounted in accordance with the requirement of Accounting Standard on " Taxes on Income" (AS 22). Deferred Tax Assets are recognised on c/f unabsorbed depreciation and Business Loss as there is virtual certainity that sufficient future taxable income will be available against which such asset can be adjusted.

(b) The major components of the Deferred Tax Assets/Liabilities, based on the effect of the timing differences, as at 31st March 2006, are as under:

Amt Tax Rate Tax Amt (Rs. In lakhs) (Rs. In lakhs)

(I) Carried forward Loss/Depn 697.95 33.66 234.93

(II) Difference in WDV 734.57 33.66 -247.26

Provision for Deferred Tax - - -12.33

SAY Rs. -12.33 - -

As a matter of prudence. deferred tax assets have been recognised only to the extent of deferred tax liability and as such there is no impact of the same on these accounts.

13 The company operates in only one business segment Viz. Injection Moulded Plastic Products

14 Related Parties Disclosure

Disclosure as required by Accounting Standards 18 " Related Party Disclosures" are given below

a) List of Related Parties

1. National Polyplast (India) Ltd-Associate Concern

2. National Plastic Industries-Associate Concern

3 Mr. Sudershan Parakh-Key Management Personnel

4 Mrs. Manju Parakh-Relative

5 Mr. Alok Kumar Parakh-Key Management Personnel

6 Mr. Arihant Parakh-Relative

b) Transaction with related parties

Sale of goods 2061125

Purchases of goods 128960

Purchase or sale of Fixed Assets 333677

Rendering Services 4500325

Receiving Services 18598808

Agency arrangements Nil

Leasing or Hire Purchase arrangements 270000

Transfer of Research & Development Nil

Licence Agreements Nil

Interest paid

Key Management personnel & Relatives 169546

Outstanding balances as on 31.3.2006 Unsecured loan

Key Management personnel & relatives 5041571

Finance(including loans and equity Contribution in cash or in kind) Nil

Guarantee and collaterals Nil

Management contracts including for deputation of Employees 968176

15. Amount payable to Small scale Industrial unitsoutstanding for more than 30 days cannot be ascertained since we have not yet received the confirmation from our suppliers on their status of industrial undertaking.

16 Earnings per share Year Ended Year Ended Particulars 31.03.2006 31.03.2005

Net Profit attributable to shareholders 9259369 7872997

Weighted average number of equity shares 5668330 5668330

Basic earnings per share of Rs.10/- each 1.63 1.39

The company does not have any outstanding dilutive potential equity shares. Consequently, the basic and diluted earning per share of the company remain the same.

17 Imports & Foreign Currency details

(a) Value of Imports on CIF Basis :

Raw Materials 0 0

Capital Goods 426479 1594528

Spare Parts 294432 0

720911 1594528

(b) Expenditure in Foreign Currency

(Travelling & others) 333199 0

(C) Earnings in Foreign Currency 0 1380580

18 Lease payments and receipts

Lease payments have been made towards an operating lease of an Injection Moulding Machine. As per the guidelines of the Accounting Standards on leases (AS 19) issued by the Institute of Chartered Accountants of India, these lease payments are debited to the profit and loss account on accrual basis. Minimum Lease payments:

-not later than 1 year Rs. 1.80 lakhs

-later than 1 year but not later than 5 years -

-later than 5 years -

Lease payments/receipts are subject to cancellation at the will and necessity and option to exercise cancellation by either party to the transaction. Hence the lease payments/receipts are not discounted for future cash flows.

19 Software for Computers has been shown under "Fixed Assets" under the head Computers instead of showing it as intangible assets as per A.S.26. The cost of software has been amortised under straight line method at 16.21%.

20 Bank Guarantee for Rs.9.00 lacs has been furnished to Electricity Department, Pondicherry. As the Company is regular in paying the electricity charges, no provision for the contingent liability has been considered necessary as per AS.29

21 As per the representation received from the management there is no impairment of loss to fixed assets.

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Mar 31, 2003

Secured Loan

(i) Term Loan from SBI is secured by First Charge on Fixed Assets & second charge on stock & book debts

(ii) Cash Credit availed from SBI is secured by First Charge on Stock & Book Debts and second charge on Fixed Assets.

Other notes

As At As At 31.3.2003 31.3.2002 (Rs.in Lakhs) (Rs.in Lakhs)

1 Estimated amounts of contracts to be executed on Capital Accounts and not provided for (net of advance) 2.00 1.00 (Rs. in lakhs)

2. Contigent Liability not provided for (Rs. in lakhs)

(i) Guarantee 9.00 9.00 (ii) Letter of Credit - Inland (iii) Letter of Credit - Foreign (iv) Bills Discounted (v) Disputed Excise Liability (vi) Disputed Income Tax Liability (vii) Claims against Company not acknowledge as debt

3 Licenced and installed capacity given below :- Plastic Moulded Components licenced Capacity NA NA

Plastic Moulded Components Installed Capacity 3500 tons 3400 Tons

4 The Depreciation amount has been lower during the current year as certain moulds have been fully depreciated as a result of higher applicable depredation rates as per the schedule XIII of the Company's Act.

5 Previous years figures are re-grouped wherever considered necessary.

6 Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

7 Sales includes jobwork charges of Rs.292.86 Lakhs;( Previous year- Rs. 159.32 lakhs)

8 Miscellaneous income includes Rs. 48.17 Lakhs received towards commission (previous year - Nil)

9 Amount payable to Small scale Industrial units- outstanding for more than 30 days cannot be ascertained since we have not yet received the confirmation from our suppliers on their status of industrial undertaking.

The company does not have any outstanding dilutive potential equity shares. Consequently, the basic and diluted earning per share of the company remain the same.

10 Lease payments and receipts

Lease payments have been made towards an operating lease of an Injection Moulding Machine. As per the guidelines of the Accounting Standards on leases (AS17) issued by the Institute of Chartered Accountants of India, these lease payments are debited to the profit and loss account on accrual basis.

The company has earned lease income on a part of building during the previous year

Lease rent received has been disclosed as such in the profit and loss account.

Depreciation on leased assets have been calculated at the rates specified in Schedule XIV to the Companies Act on the straight line method.

Lease payments/ receipts are subject to cancellation at the will and necessity and option to exercise cancellation by either party to the transaction. Hence the lease payments/ receipts are not discounted for future cash flows.

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Mar 31, 2002

Secured Loans:

(1) Term loan from State Bank Of India is secured by first charge on fixed assets and second charge on stock and book debts.

(2) Cash Credit availed from State Bank Of India is secured by first charge on stock and book debts and second charge on fixed assets.

Other Notes:

1. Previous years figures are re-grouped wherever considered necessary.

2. Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

3. Amount payable to Small scale industrial units - outstanding for more than 30 days is Rs. 2.82 lakhs

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Mar 31, 2001

31.03.2001 31.03.2000 (Rs.in Lakhs) (Rs.in Lakhs)

1. Estimated amounts of contracts to be executed on Capital Accounts and not provided for (net of advance) NIL NIL

2. Contigent Liability not provided for

(i) Guarantee 3.20 3.20

(ii) Letter of Credit - Inland 66.44 244.85

(iii) Letter of Credit - Foreign - -

(iv) Bills Discounted 23.29 13.84

(v) Disputed Excise Liability - -

(vi) Disputed Income Tax Liability - -

(vii) Claims against Company not acknowledge as debt - -

3. Depreciation has been provided on Straight Line method as per rates prescribed under Schedule XIV to the companies Act 1956.

4. Credit for modvat of Excise duty on raw materials have been taken in Raw material A/c and Modvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets.

5. Previous years figures are re-grouped wherever considered necessary.

6. Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

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Mar 31, 2000

1. Estimated amounts of contracts to be executed on Capital Accounts and not provided for (net of advance)

2. Contingent Liability not provided for (Rs. in lakhs)

(i) Guarantee

(ii) Letter of Credit-Inland

(iii) Letter of Credit - Foreign

(iv) Bills Discounted

(v) Disputed Excise Liability

(vi) Disputed Income Tax Liability

(vii) Claims against Company not acknowledge as debt

3. Depreciation has been provided on Straight Line Method as per rates prescribed under Schedule XIV to the Companies Act 1956

4. Credit for modvat of Excise duty on raw credit of Excise Duty on Capital Goods / materials have been taken in R has been credited to respective law material A/c and Modvat Capital Assets.

5. Previous years figures are re-grouped wherever considered necessary.

6. Confirmation of balances from Debtors and Creditors of the Company have not been received.

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Mar 31, 1999

Note : (i) Term Loan from SBI is secured by First Charge on Fixed Assets & second charge on stock & book debts

(ii) Cash Credit availed from SBI is secured by First Charge on Stock & Book Debts and second charge on Fixed Assets.

(iii) Bill Discounting are backed by Letters of Credit furnished by Customers.

(iv) Term Loan from SBM is secured by First Charge on Mould, computers & temperature controller.

As at At at 31.03.1999 31.03.1998 (Rs. in Lakhs) (Rs. in Lakhs) NOTES TO THE ACCOUNTS

1. Estimated amounts of contracts to be executed on Capital Accounts and not provided for (net of advance) - 69.16

2. Contingent Liability not provided for

(i) Guarantee 6.71 3.81

(ii a) Letter of Credit - Inland 213.56 104.35

(ii b) Letter of Credit - Foreign 125.27 95.10

(iii) Bills Discounted 24.09 32.71

(iv) Disputed Excise Liability - -

(v) Disputed Income Tax Liability - -

(vi) Claims against Company not acknowledge as debt- -

3. Credit for modvat of Excise duty on raw materials have been credited to Raw material A/c and Modvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The unutilised Modvat credit of Rs.2144378/-is shown under the Current Assets as "Modvat Receivable A/c".

4. Previous years figures are re-grouped wherever considered necessary.

5. Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

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Mar 31, 1998

1. Credit for modvat of Excise duty on raw materials have been credited to Raw material A/c and Modvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The unutilised Modvat credit of Rs. 559207/- is shown under the Current Assets as Modvat Receivable A/c".

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Mar 31, 1997

(1) Term loan from State Bank of India (SBI) is secured by first charge on fixed assets & second charge on stock & book debts

(2) Cash credit availed from SBI is secured by first charge on stock & book debts and second charge on fixed assets.

(3) Bill discounting are backed by letters of credit furnished by customers.

(4) Term Loan from State Bank of Mysore (SBM) is secured by first charge on mould, computers & temperature controller.

(5)Credit for modvat of excise duty on raw materials have been taken in Raw material A/c and Modvat credit of excise duty on Capital Goods has been credited to respective Capital Assets. The unutilised Modvat credit of Rs. 1566989/- is shown under the Current Assets as "Modvat Receivable A/c".

(6)Previous years figures are re-grouped wherever considered necessary.

(7)Confirmation of balances from Debtors and Creditors of the Company have not been received.

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Mar 31, 1996

NOTES TO SECURED LOANS

1. Term Loan from SBI is secured by first charge on fixed assets and second charge on stock and book debts.

2. Cash credit account from SBI is secured by first charge on stock & book debts and second charge on fixed assets.

3. Bill discounting are backed by letters of credit furnished by Customers.

NOTES TO ACCOUNTS:

1. Estimated amount of contracts to be executed on Capital Accounts and not provided for (net of advance)

2. Contingent Liability not provided for

(i) Guarantee (ii) Letter of Credit (iii) Bills Discounted (iv) Disputed Excise Liability (iv) Disputed Income Tax Liability (v) Claims against Company not acknowledged as debt

3. Depreciation has been provided on straight line method as per rates prescribed under Schedule XIV to the Companies Act, 1956. During the year, the company has changed the method of providing depreciation from written down value method to straight line method. Excess depreciation, charged on earlier years on account of change in method of depreciation amounting to Rs.34,76,377/- has been written back during this year.