Mar 31, 2015
A. NATURE OF OPERATIONS
Raj Packaging Industries Limited was incorporated on 18th June, 1987 in
Hyderabad, Telangana.It has got manufacturing facility at the outskirts
of Hyderabad and engaged in manufacture of multilayer co-extruded
plastic film and flexible packaging material. It is a part of the
plastic packaging material industry.
B. OTHER NOTES
1. In the opinion of the Board, all the assets other than Non-current
Assets have a value on realization in the ordinary course of business
at least equal to the amount at which they are stated in the Balance
Sheet. The provision for depreciation and all other known liabilities
is adequate and not in excess of the amount reasonably necessary.
2.1 Contingent Liabilities and Commitments (to the extent not provided
for) - Nil.
2.2 The Company's pending litigations comprise of claims against the
Company and proceedings pending with Tax and other Authorities. The
Company has reviewed all its pending litigations and proceedings and
has made adequate provisions, wherever required and disclosed the
contingent liabilities, wherever applicable, in its financial
statements. The Company does not reasonably expect the outcome of these
proceedings to have a material impact on its financial statements.
3. Balances in Trade Payables, Trade Receivables, Other Current
Liabilities and Loans and Advances are subject to confirmations,
reconciliation & adjustments. In the opinion of the management,
adjustments, if any, on such confirmations / reconciliations will not
have material impact on the profit for the year.
4. The Company has not received any intimation from suppliers
regarding their status under the Micro, Small and Medium Enterprises
Act, 2006 and hence disclosures, if any, relating to amounts unpaid as
at the year end together with interest paid/payable as required under
the said Act have not been given.
5. In terms of Accounting Standard 17, the Company operates materially
only in one business Segment viz., Plastic Films and has its production
facilities and all other assets located in India. Sales comprise of
export sales of Rs. 1,02,87,419 (Previous Year Rs. Nil) and local sales
of Rs. 43,95,66,082 (Previous Year Rs. 42,81,41,260)
6. Disclosure in respect of related parties pursuant to Accounting
Standard 18:
(A) List of related parties:
Related parties with whom company entered into transactions during the
year:
i) Companies in which directors are interested:
Chetanya Securities Private Limited
ii) Key Management Personnel
Shri Prem Kankaria, Managing Director (M.D)
Shri M. Narsimha, CFO (Chief Financial Officer)
iii) Relative of Key Management Personnel and their entities
Miss Neepa Kankaria, Daughter of M.D
Mrs Shyama Kankaria, Spouse of M.D
Kankaria Leasing & Finance Private Limited
7. Previous years figures have been regrouped / rearranged where ever
necessary to conform to the current year's presentation.
Mar 31, 2014
NATURE OF OPERATIONS
Raj Packaging Industries Limited was incorporated on 18th June, 1987 in
Hyderabad, Andhra Pradesh. It has got manufacturing facility at the
outskirts of Hyderabad and engaged in manufacture of multilayer co-
extruded plastic film and flexible packaging material. It is a part of
the plastic packaging material industry.
Note 1
A. OTHER NOTES
1. In the opinion of the Board, all the assets other than Non-current
Assets have a value on realization in the ordinary course of business
at least equal to the amount at which they are stated in the Balance
Sheet. The provision for depreciation and all other known liabilities
is adequate and not in excess of the amount reasonably necessary.
2. Balances in Trade Payables, Trade Receivables, Other Current
Liabilities and Loans and Advances are subject to confirmations,
reconciliation & adjustments. In the opinion of the management,
adjustments, if any, on such confirmations / reconciliations will not
have material impact on the profit for the year.
3. The Company has not received any intimation from suppliers
regarding their status under the Micro, Small and Medium Enterprises
Act, 2006 and hence disclosures, if any, relating to amounts unpaid as
at the year end together with interest paid/payable as required under
the said Act have not been given.
4. In terms of Accounting Standard 17, the Company operates materially
only in one business Segment viz., Plastic Films and has its production
facilities and all other assets located in India.
6. Disclosure in respect of related parties pursuant to Accounting
Standard 18:
(A) List of related parties:
Related parties with whom company entered into transactions during the
year:
i) Companies in which directors are interested:
Chetanya Securities Private Limited
Peekay Securities Private Limited (w.e.f 08.04.2013)
ii) Key Management Personnel
Shri Prem Kankaria, Managing Director
iii) Relative of Key Management Personnel and their entities
Miss Neepa Kankaria, Daughter
Kankaria Leasing & Finance Private Limited
Notes:
1. No amounts in respect of related parties have been written off /
written back during the year.
2. Figures in bracket represent previous year''s figures.
3. Related parties are as identified by the management and relied upon
by the auditors.
12. Previous years figures regrouped / rearranged where ever necessary
to conform to the current year''s presentation.
Mar 31, 2013
NATURE OF OPERATIONS
Raj Packaging Industries Limited was incorporated on 18th June, 1987 in
Hyderabad, Andhra Pradesh. It has got manufacturing facility at the
outskirts of Hyderabad and engaged in manu- facture of multilayer
co-extruded plastic film and flexible packaging material. It is a part
of the plastic packaging material industry.
1. In the opinion of the Board, assets other than fixed assets and
non-current investment have a value on realization in the ordinary
course of business at least equal to the amount at which they are
stated. The provision for depreciation and all other known liabilities
is adequate and not in excess of the amount reasonably necessary.
2. Balances in Trade Payables, Trade Receivables and Short Term loans
and Advances are subject to confirmations, reconciliation &
adjustments. In the opinion of the management, adjustments, if any, on
such confirmations / reconciliations will not have material impact on
the loss for the year.
3. The Company has not received any intimation from suppliers
regarding their status under the Micro, Small and Medium Enterprises
Act, 2006 and hence disclosures, if any, relating to amounts unpaid as
at the year end together with interest paid/payable as required under
the said Act have not been given.
4. In accordance with the practice being followed by the Company, no
provision has been made in respect of estimated total liability for
future payment of Gratuity and Leave Encashment and the same is being
accounted for as and when paid which is not in accordance with the
accounting method prescribed in Accounting Standard 15 - "Employee
Benefits" issued by the Institute of Chartered Accountants of India.
However, in the opinion of management, it will not have any material
financial impact on the results of the company.
5. In terms of Accounting Standard 17, the Company operates materially
only in one business Segment viz., Plastic Films and has its production
facilities and all other assets located in India.
6 Disclosure in respect of related parties pursuant to Accounting
Standard 18:
(A) List of related parties:
Related parties with whom company entered into transactions during the
year:
i) Companies in which directors are interested:
Kankaria Leasing & Finance Private Limited Chetanya Securities Private
Limited
ii) Key Management Personnel
Shri Prem Kankaria, Managing Director
Relative of Key Management Personnel
Miss Neepa Kankaria, Daughter
7. Previous years figures regrouped / rearranged where ever necessary
to conform to the current year''s presentation.
Mar 31, 2012
(A) The Company has only one class of equity shares having par value of
Rs.10. Each holder of equity shares is entitled to only one vote. The
shareholders have the right to receive interim dividend declared by the
Board of Directors and final dividend proposed by the Board of
Directors and approved by the shareholders. In the event of liquadation
of the Company, the holder of equity shares will be entitled to receive
the remaining assets of the Company, after distribution of all
preferential amounts. However, no such preferential amounts exist
currently. The distribution will be in proportion to the number of
equity shares held by the shareholders.
(B) 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.
NATURE OF OPERATIONS
Raj Packaging Industries Limited was incorporated on 18th June, 1987 in
Hyderabad, Andhra Pradesh. It has got manufacturing facility at the
outskirts of Hyderabad and engaged in manufacture of multilayer
co-extruded plastic film and flexible packaging material. It is a part
of the plastic packaging material industry.
1. Contingent liabilities and commitments (to the extent not provided
for):
Particulars Year ended Year ended
31.03.2012 31.03.2011
Rs. Rs.
Commitments
Estimated amount of contracts
remaining to be executed on capital
account and not provided for,
Net of Advances
Rs. 5,40,000. __ 13,81,000
2. In the opinion of the Board, all the assets other than fixed assets
have a value on realisation in the ordinary course of business at least
equal to the amount at which they are stated in the Balance Sheet. The
provision for depreciation and all other known liabilities is adequate
and not in excess of the amount reasonably necessary.
3. Balances in Trade Payables, Trade Receivables and Short Term loans
and Advances are subject to confirmations, reconciliation &
adjustments. In the opinion of the management, adjustments, if any, on
such confirmations / reconciliations will not have material impact on
the loss for the year.
4. The Company has not received any intimation from suppliers
regarding their status under the Micro, Small and Medium Enterprises
Act, 2006 and hence disclosures, if any, relating to amounts unpaid as
at the year end together with interest paid/payable as required under
the said Act have not been given.
5. In accordance with the practice being followed by the Company, no
provision has been made in respect of estimated total liability for
future payment of Gratuity and Leave Encashment and the same is being
accounted for as and when paid which is not in accordance with the
accounting method prescribed in Accounting Standard 15 - "Employee
Benefits" issued by the Institute of Chartered Accountants of India.
However, in the opinion of management, it will not have any material
financial impact on the results of the company.
6. In terms of Accounting Standard 17, the Company operates materially
only in one business Segment viz., Plastic Films and has its production
facilities and all other assets located in India.
7. Disclosure in respect of related parties pursuant to Accounting
Standard 18: (A) List of related parties:
Related parties with whom company entered into transactions during the
year:
i) Companies in which directors are interested:
Kankaria Leasing & Finance Private Limited Chetanya Securities Private
Limited
Peekay Securities Private Limited
ii) Key Management Personnel
Shri Prem Kankaria, Managing Director Relative of Key Management
Personnel Shri Rajendra Kankaria, Brother Miss Neepa Kankaria, Daughter
Notes:
1. No amounts in respect of related parties have been written off /
written back during the year.
2. Figures in bracket represent previous year's figures.
3. Related parties are as identified by the management and relied upon
by the auditors.
8. a) The Company uses Forward Exchange Contracts to hedge its risks
associated with foreign currency fluctuations relating to certain firm
commitments and forecasted transactions. The Company does not enter
into any such instruments for trading or speculative purposes.The
following are the contracts entered into by the Company and outstanding
at the year-end:
9. The Company was using pre-revised Schedule VI to the Companies Act
1956, for the preparation and presentation of its financial statements
upto the year ended 31st March 2011. During the year ended 31st March
2012, the revised Schedule VI notified under the Companies Act 1956,
has become applicable to the Company. The Company has reclassified
previous year figures to conform to this year's classification. The
adoption of revised Schedule VI does not impact revenue recognition and
measurement principles followed for preparation of financial
statements.
Mar 31, 2010
1. Additions to fixed assets include a sum of Rs.7,99,530/-
capitalized during the year on account of interest paid upto the period
when respective assets were ready for its intended use.
2. In the opinion of the management, 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 those are stated in the Balance
Sheet. The provision for depreciation and for all the known liabilities
is adequate and not in excess of what is required.
3. Accounts of certain debtors, creditors, loans and advances and
unsecured loans given are subject to confirmation and reconciliation,
if any. However, in the opinion of management, there would not be any
material impact on the financial statements.
4. The Company has not received any intimation from suppliers
regarding their status under the Micro, Small and Medium Enterprises
Act, 2006 and hence disclosures, if any, relating to amounts unpaid as
at the year end together with interest paid/payable as required under
the said Act have not been given.
5. A sum of Rs.48,111 (Previous Year Rs.43,460) on account of
unclaimed dividend has not been deposited in the Investor Education and
Protection Fund as required under Section 205C of the Companies Act,
1956. However, the process for the remittance of the same has already
been initiated.
6. In accordance with the practice being followed by the Company, no
provision has been made in respect of estimated total liability for
future payment of Gratuity and Leave Encashment and the same is being
accounted for as and when paid which is not in accordance with the
accounting method prescribed in Accounting Standard 15- "Employee
Benefits" issued by the Institute of Chartered Accountants of India.
However, in the opinion of management, it will not have any material
financial impact on the results of the company.
7. In terms of Accounting Standard 17, the Company operates materially
only in one business Segment viz., Plastic Films and has its production
facilities and all other assets located in India.
8. Deferred Tax Liabi!ity/(Asset) for the year and at the year end
comprise timing differences on account of:
9. Disclosure in respect of related parties pursuant to Accounting
Standard 18:
(A) List of related parties:
Related parties with whom company entered into transactions during the
year:
i) Companies in which directors are interested:
Kankaria Leasing & Finance Private Limited
Chaitanya Securities Private Limited
ii) Key Management Personnel
Shri Prem Kankaria, Managing Director
Relative of Key Management Personnel
Shri Rajendra Kankaria, Brother
Notes:
1. No amounts in respect of related parties have been written off /
written back during the year.
2. Figures in bracket represent previous years figures.
3. Related parties are as identified by the management and relied upon
by the auditors.
10. a) Foreign exchange difference (net) debited to Profit and Loss
Account Rs.5,96,910/- (Previous Year credited Rs. 13,39,881/-). b) The
Company uses Forward Exchange Contracts to hedge its risks associated
with foreign currency fluctuations relating to certain firm commitments
and forecasted transactions. The Company does not enter into any such
instruments for trading or speculative purposes.
11. Additional information pursuant to the provisions of Schedule VI
of the Companies . Act,1956
* including sale of Raw Material 5.00 MT (Previous Year Nil)
* Including Semi Finished Goods
* Includes sale of Raw Material 5.00 Mts. (Previous Year Nil)
* evaluated as per Income Tax Rules, wherever applicable
12. Previous years figures have been regrouped and rearranged wherever
necessary so as to confirm it with the current years presentation.