Mar 31, 2023
e. 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 shareholder is eligible for one vote per share held.The company declares and pays dividend in Indian rupees.
f. During the year,the company has paid final dividend of '' 1.00 per share share for FY 2021-22 which resulted in a cash outflow of '' 150.07 Lakhs
g. 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
a) The loan is primarily secured by hypothecation of stock and receivables and further collaterally secured by way of specific properties belonging to two directors and further guaranteed by three directors in their individual capacities.
b) The Company is regular in repayment of installment amounts along with interest as on the reporting date.
c) The Company has used the borrowings from banks and financial institutions for the specific purpose for which it was taken
d) The Company was not declared willful defaulter by any bank or financial Institution or other lender.
e) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
a) The loan is primarily secured by hypothecation of stock and receivables and further collaterally secured by way of specific properties belonging to two directors and further guaranteed by three directors in their individual capacities.
b) The loan is repayable on demand.
c) The Company is regular in payment of interest on above loan as on reporting date.
Since the company deals only in Manufacturing of Human hair products and there are no geographical segments to be reported.
The total sale revenue of '' 2626.61 Lakhs includes an amount of '' 3.46 Lakhs towards net exchange gain on account of realization of export receivables.
According to an internal technical assessment carried out by the Company, there is no impairment in the carrying cost of cash generating units of the Company in terms of Indian Accounting Standard 36 ''Impairment of Assets''.
The earmarked balances under head Cash & Cash equivalents represent the bank balance relating to the following unpaid dividends.
The Board of Directors at its meeting held on May 25, 2023 has recommended a 10% dividend of '' 1.00 per equity share of face value of '' 10/- each amounting to '' 150.07 Lakhs which is subject to approval of the shareholders at the ensuing Annual General Meeting of the Company and hence is not recognized as a liability.
45. |
CONTINGENT LIABILITIES AND COMMITMENTS |
('' in Lakhs) |
|||
S. No. |
Particulars |
As at 31st March |
As at 31st March |
||
2023 |
2022 |
||||
(i) |
Contingent Liabilities (to the extent not provided for): a) Claims against the Company not acknowledged as debts |
||||
b) Guarantees excluding financial guarantees |
- |
- |
|||
(ii) |
c) Other money for which the Company is contingently liable Commitments: |
- |
- |
||
a) Estimated amount of contracts remaining to be executed on capital account and not provided for |
- |
- |
|||
b) Uncalled liability on shares and other investments partly paid |
- |
- |
|||
c) Other commitments (specify nature). |
- |
- |
|||
V_ |
According to an internal technical assessment carried out by the Company, there is no impairment in the carrying cost of cash generating units of the Company in terms of Indian Accounting Standard 36 ''Impairment of Assets
# Earnings for Debt Service = Net Profit before taxes Non-cash operating expenses like depreciation and other amortizations Interest other adjustments like loss on sale of Fixed assets etc.
Note:
1) Due to improvement in operating cycle of the company and liquidity current assets ratio, Debt to equity ratio, Debt service coverage ratio, Inventory and Trade receivables ratios, return on capital employed ratios are improved when compared to previous year.
r
48. Additional regulatory information required by Schedule III
i) No proceeding has been initiated or pending against the Company for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988, as amended, and rules made thereunder.
ii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
iii) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
iv) There were no transactions relating to previously unrecorded income that have been surrendered and disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.
49. Relationship With Struck Off Companies
The Company does not have any relationship or any transaction with struck off companies.
50. Utilization of borrowed funds and share premium:
The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:
a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or
b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries
The company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall:
a) directly or indirectly lend or invest in other persons or entities identified in anymanner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries)or
b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries
51. The exchange value for restatement of export receivables and EEFC account is taken at '' 82.18 per dollar.
52. The Statement of Cash Flows has been prepared under the ''Indirect Method'' as set out in Ind AS 7, ''Statement of Cash Flows''.
53. Paise have been rounded off.
54. The previous period''s figures have beenregrouped/reclassified wherever necessary to conform to the current period presentation.
Mar 31, 2018
1. As per Indian Accounting Standard 24 âRelated Parties Disclosureâ the disclosure of related parties as defined in the standard are given hereunder:
A. List of Related parties:
Key Management Personnel
a) Sri. G. Raghu Rama Raju, Managing Director
b) Sri. G.G.R. Prabhakara Raju, Director & CFO
c) Smt. G Parvathi, Director
d) Sri. P. Lenin Babu Company Secretary Companies controlled by Key Management Personnel:
a) M/s. Diamond Drop Property Holdings (India) Private Limited (Smt. G. Parvathi, Director interested as Director in the Company)
b) M/s. Arqube Industries (India) Limited
(Sri.G. Raghu Rama Raju, Managing Director &
Smt. G. Parvathi, Director interested as Directors in the Company)
2. Since the company deals only in Manufacturing of Human hair products and there are no geographical segments to be reported.
3. The total sale revenue of Rs.12,06,58,174/- includes an amount of Rs.13,50,220/- towards net exchange gain on account of realization of export receivables.
4. According to an internal technical assessment carried out by the Company, there is no impairment in the carrying cost of cash generating units of the Company in terms of Indian Accounting Standard 36 âImpairment of Assetsâ .
5. The earmarked balances under head Cash & Cash equivalents represents the balance held in Dividend accounts towards unpaid final dividend of Rs. 31,509/- pertaining to the FY:2014-15, Interim dividend of Rs.31,142/- in respect of FY:2015-16 and Final Dividend of Rs. 37,327 in respect of FY:2016-17.
6. The exchange value for restatement of export receivables and Exchange Earnersâ Foreign Currency Account (EEFC) balance are taken at Rs.65.07 per dollar.
7. Cash-flow statement enclosed.
8. Figures in brackets indicate those for the previous period.
9. The previous periodâs figures have been regrouped / reclassified wherever necessary to conform to the current period presentation.
Mar 31, 2016
1. Government Grants:
Grants from government are recognized when there is reasonable assurance that the grant will be received and all attaching conditions will be complied with. Government grants relating to assets the company has opted âcapital approachâ method. Accordingly, the grant is deducted from the gross value of the assets concerned in arriving at their books value.
Government grants in the nature of export incentives are recognized in the statement of Profit and Loss in the year in which the licenses was approved by respective authorities and the same is considered as reasonable assurance that the enterprise has complied the conditions attached to them and the benefits have been earned by the enterprise is reasonably certain and the ultimate collection will be made.
2. Particulars disclosed pursuant to âAS-18 Related Party Disclosuresâ.
A. List of Related parties:
Key Management Personnel
a) Sri.G. Raghu Rama Raju, Mg. Director
b) Smt.G.Parvathi, Director
c) Sri.G.G.R. Prabhakara Raju, Director & CFO Companies controlled by Key Management Personnel:
a) M/s. Diamond Drop Property Holdings (India) Private Limited (Smt. G. Parvathi, Director interested as Director in the Company)
b) M/s. Arqube Industries (India) Limited (Sri.G.Raghu Rama Raju, Mg. Director &
Smt. G. Parvathi, Director interested as Directors in the Company)
3. Since the company deals only in Manufacturing of Human hair products, the reporting requirement as per AS-17 on Segment reporting does not arise during the period.
4. The total sale revenue of Rs. 27,92,95,914/- includes an amount of Rs.63,66,251/- towards net exchange gain on account of realization of export receivables.
5. The earmarked balances under head Cash & Cash equivalents represents the balance held in Dividend accounts towards unpaid final dividend of Rs.31,509/- pertaining to the FY: 2014-15 and Interim dividend payable of Rs.27,94,780/- in respect of FY: 2015-16.
6. The exchange value for restatement of export receivables and Exchange Earners'' Foreign Currency Account (EEFC) balance are taken at Rs. 66.25 per dollar.
7. Cash-flow statement enclosed.
8. Figures in brackets indicate those for the previous period.
9. The previous period''s figures have been regrouped / reclassified wherever necessary to conform to the current period presentation
Mar 31, 2015
1. Corporate information
Radix Industries (India) Limited (the company) is a public company
domiciled in India and incorporated under the provisions of the
Companies Act, 1956. Its shares are listed on two stock exchanges in
India. The company is engaged in the manufacturing and selling of human
hair products. The company caters to both domestic and international
markets.
2. 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 shareholder is eligible for one vote per share
held. The company declares and pays dividend in indian rupees.
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
3. Particulars disclosed pursuant to "AS-18 Related Party
Disclosures".
A. List of Related parties:
Key Management Personnel
a) Sri.G. Raghu Rama Raju, Mg.Director
b) Smt.G.Parvathi, Director
c) Sri.G.G.R. Prabhakara Raju, Director
Companies controlled by Key Management Personnel:
a) M/S Diamond Drop Property Holdings(India) Private Limited (Smt.
G.Parvathi, Director interested as Director in the Company)
b) M/S Arqube Industries (India) Limited (Sri.G.Raghu Rama Raju,
Mg.Director &
Smt. G.Parvathi, Director interested as Directors in the Company)
4. Since the company deals only in Manufacturing of Human hair
products, the reporting requirement as per AS-17 on Segment reporting
does not arise during the period.
5. Cash-flow statement enclosed.
6. Previous period figures have been regrouped wherever necessary.
7. Figures in brackets indicate those for the previous period.
8. The previous period's figures have been regrouped / reclassified
wherever necessary to conform to the current period presentation.
Mar 31, 2013
1. Corporate information
Radix Industries (India) Limited (the company) is a public company
domiciled in India and incorporated under the provisions of the
Companies Act, 1956. Its shares are listed on two stock exchanges in
India. The company is engaged in the manufacturing and selling of human
hair products. The company caters to both domestic and international
markets.
2. Particulars disclosed pursuant to "AS-18 Related Party
Disclosures". A. List of Related parties:
Key Management Personnel
a) Sri.G.Raghu Rama Raju, Chairman & Mg.Director
b) Smt.G.Parvathi, Director
c) Sri G.G.R. Prabhakara Raju, Director
Companies controlled by Key Management Personnel:
M/S. Diamond Drop Property Holdings(lndia) Private Limited (Smt.
G.Parvathi, Director interested as Director in the Company)
3. Stocks of Raw Materials, Finished goods, Stores and Spares etc.,
are as certified by the Management.
4. Outstanding balances in respect of Sundry Debtors, Sundry
Creditors and Loans & Advances are subject to confirmation from the
parties. In the opinion of the Board of Directors, the Current Assets,
Loans and Advances have a value on realization in the ordinary course
of business at least equal to the amount at which they are stated.
5. The company received an amount of Rs. 1,11,744/- towards capital
grant from government.
6. Since the company deals only in Manufacturing of Human hair
products, the reporting requirement as per AS-17 on Segment reporting
does not arise during the period.
7. The Company discounted its export bill of USD 914875 with State
Bank of India and the same is treated as realized from the export
receivables as the export bill is against LC. The said amount has been
realized to the bank on 10/04/2013.
8. Cash-flow statement enclosed.
9. Previous period figures have been regrouped wherever necessary.
10. Figures in brackets indicate those for the previous period.
11. The Previous period''s figures are for 9 months period ended 31st
March, 2012, while those of current period for the year ended 31 March,
2013. Hence the same are not comparable. The previous period''s figures
have been regrouped / reclassified wherever necessary to conform to the
current period presentation
Mar 31, 2012
1. Corporate information
Radix Industries (India) Limited (the company) is a public company
domiciled in India and incorporated under the provisions of the
Companies Act, 1956. Its shares are listed on two stock exchanges in
India. The company is engaged in the manufacturing and selling of human
hair products. The company caters to both domestic and international
markets.
2. Basis of preparation
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The company has prepared these financial statements to
comply in all material respects with the accounting standards notified
under the Companies (Accounting Standards) Rules, 2006, (as amended)
and the revised provisions of the Companies Act, 1956. The financial
statements have been prepared on an accrual basis and under the
historical cost convention.
The accounting policies adopted in the preparation of financial
statements are consisted with those of previous period.
3. Particulars disclosed pursuant to "AS-18 Related Party
Disclosures". A. List of Related parties:
Key Management Personnel
a) Sri.G.Raghu Rama Raju, Chairman & Mg.Director
b) Smt.G.Parvathi, Director
c) Sri G.G.R. Prabhakara Raju, Director
Companies controlled by Key Management Personnel:
M/S. Diamond Drop Property Holdings(India) Private Limited (Smt.
G.Parvathi , Director interested as Director in the Company)
4. Stocks of Raw Materials, Finished goods, Stores and Spares etc.,
are as certified by the Management.
5. Outstanding balances in respect of Sundry Debtors, Sundry
Creditors and Loans & Advances are subject to confirmation from the
parties. In the opinion of the Board of Directors, the Current Assets,
Loans and Advances have a value on realization in the ordinary course
of business at least equal to the amount at which they are stated.
6. Advance for Purchase of Raw Materials of - 0.03 lacs were made to
Tirumala Tirupathi Devasthanams, Tirupathi.
7. Since the company deals only in Manufacturing of Human hair
products, the reporting requirement as per AS-17 on Segment reporting
does not arise during the period.
8. Cash-flow statement enclosed.
9. Previous period figures have been regrouped wherever necessary.
10. Figures in brackets indicate those for the previous period.
11. The Previous period''s figures are for 15 months period ended
30th June, 2011, while those of current period are for 9 months ended
31 March, 2012. Hence the same are not comparable. The previous
period''s figures have been regrouped/reclassfied wherever necessary
to conform to the current period presentation
12. Till the period ended 30th June, 2011, the company was using
pre-revised Schedule VI to the Companies Act, 1956, for the preparation
and presentation of its financial statements. During the period ended
31 March, 2012 the revised Schedule VI notified under the Companies
Act, 1956, has become applicable to the company. The company has
reclassified previous period figures to conform to this period''s
classification. The adoption of revised Schedule VI does not impact
recognition and measurement principles followed for presentation of
financial statements, particularly presentation of balance sheet.
Jun 30, 2011
1. The company decided to change its fiscal year end from March, 31 to
June, 30. Hence, audited financial statements are accordingly prepared
for the 15 months period ended 30th June, 2011 and compared to 12
months period ended 31st March, 2010.
2. There are no earnings and no expenditure incurred in foreign
currency during the year and in previous year.
3. Balances written off consists of the written off amounts due to
loan creditor of Rs.25,16,996/- and written off of amount due to a
debtor of Rs.10,44,753/-
4. As per the information submitted by the suppliers regarding their
status under "Micro Small and Medium Enterprises Development Act, 2006,
there are no dues to such suppliers remaining unpaid beyond the
appointed day as at the date of Balance Sheet.
5. Outstanding balances in respect of Sundry Debtors, Sundry Creditors
and Loans & Advances are subject to confirmation from the parties. In
the opinion of the Board of Directors, the Current Assets, Loans and
advances have a value on realization in the ordinary course of business
at least equal to the amount at which they are stated.
6. The Previous year's figures are for the year ended 31st March,
2010, while those of current period are for 15 months ended 30th June,
2011. Hence, the same are not comparable. The previous year's fgures
have been regrouped/reclassified wherever necessary to conform to the
current period presentation.
7. Paisa have been rounded off.
Mar 31, 2010
1. Balance in respect of sundry creditors, sundry debtors, loans and
advances and unsecured loans are subject to confrmation from respective
parties.
2. Additional information to the extent applicable, pursuant to the
provisions of Part II of Schedule VI to the Companies Act, 1956.
3. The management has not provide any provision for income tax due to
loss.
4. Previous year figures have been regrouped / rearranged wherever
necessary.
Mar 31, 2009
1. Balances in respect of sundry creditors, sundry debtors, loans and
advances and unsecured loans are subject to confirmation from
respective parties.
2. Additional information to the extent applicable, pursuant to the
provisions of Part II of Schedule VI to the Companies Act, 1956.
i) Licensed and installed capacities and actual production: (As
certified by the Management)
ii) Licensed and installed capacities and actual production: (As
certified by the Management)
3. The management has not provided any provision for income tax due to
loss and provided for Fringe Benefit Tax Rs. 6607/-.
4. Previous year figures have been regrouped / rearranged wherever
necessary.
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