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Notes to Accounts of Shivalik Rasayan Ltd.

Mar 31, 2023

Contingent Liabilities

(Amount Rs. in Lakhs)

Particulars

31.03.2023

31.03.2022

Bank Guarantee given to Uttarakhand Environment & Pollution Control Board

5.00

5.00

Bank Guarantee given to Sales Tax Department

0.50

0.50

2.29 Value of Imports (On CIF Basis)

(Amount Rs. in Lakhs)

Particulars

31.03.2023

31.03.2022

Raw Materials

240.87

464.35

Total

240.87

464.35

Managerial Remuneration

During the year, Company has paid total Managerial Remuneration amounting to Rs. 394.66 lakhs (Previous year Rs. 360.07 lakhs) which is approved under Section 197 read with schedule-V of the Companies Act, 2013.

Suppliers Status of registration under the Micro, Small & Medium Enterprises:

The Company has not received confirmation from all the suppliers regarding their status of registration under the

Micro, Small & Medium Enterprises Development Act, 2006 which came into effect from October 02, 2006, and hence disclosure required under the said act have not been given. The Company is otherwise generally regular in making payments as per terms except for special reasons.

The Previous Year Figures have been reworked, regrouped, rearranged, reclassified and / or re-casted wherever deemed necessary to make them comparable with those of the current year’s figures.

Corporate Social Responsibilities:

During the year Company incurred Rs. 27.79 lakhs under CSR activities, as prescribed u/s 135 of the Companies Act, 2013 (Rs. 22.49 lakhs for previous year).


Mar 31, 2021

i) During the year, Company has paid total managerial remuneration amounting to '' 335.70 Lacs (Previous year '' 279.92 Lacs) which is approved under Section 197 read with schedule-V of the Companies Act, 2013.

ii) The Company has not received any confirmation from suppliers regarding their status of registration under the Micro, Small & Medium Enterprises Development Act, 2006 which came into effect from October 2, 2006 and hence disclosure required under the said act have not been given. The Company is otherwise generally regular in making payments as per terms except for special reasons.

) The Previous Year Figures have been reworked, regrouped, rearranged, reclassified and / or re-casted wherever deemed necessary to make them comparable with those of the current year’s figures.

I During the year Company incurred '' 13.59 Lacs under CSR activities, as prescribed u/s 135 of the Companies Act, 2013 (''13.33 Lacs for previous year).


Mar 31, 2018

NOTE 1: CORPORATE INFORMATION

Shivalik Rasayan Limited was registered with the ROC, Gwalior, Madhya Pradesh under the Registration number 1498/79 dated 16/03/1979. In the year 1980 company shifted its registered office from Madhya Pradesh to Uttar Pradesh under the Registration number 6992/5041 dated 23/02/1980. Old Registration number has been converted into new Corporate Identification number (CIN) L24237UR1979PLC005041. Registered office of the company is situated in the state of Uttarakhand at Village Kolhupani, P O. Chandanwari, Dehradun - 248007. The company is manufacturer of organophosphate insecticides such as Dimethoate Technical and Malathion Technical.

(a) Related party Disclosures

Details of Disclosure of transactions with Related Parties as defined in Ind AS (Excluding Reimbursements) are given herein below:-

(i) related parties

A. Key Managerial personnel & Directors

(b) Contingent Liabilities

(c) VALUE OF IMPORTS (ON CIF BASIS)

(d) During the year, company has paid total managerial remuneration amounting to Rs.37.98 lakhs which is within the limited under Section 197 read with schedule V of the Companies Act, 2013.

(e) The Company has not received any confirmation from suppliers regarding their status of registration under the Micro, Small & Medium Enterprises Development Act, 2006 which came into effect from October 2, 2006 and hence disclosure required under the said act have not been given. The company is otherwise generally regular in making payments as per terms except for special reasons.

(f) The Previous Year Figures have been reworked, regrouped, rearranged, reclassified and / or re-casted wherever deemed necessary to make them comparable with those of the current year’s figures.

First-time adoption of Ind AS Transition to Ind AS

These are the group’s first consolidated financial statements prepared in accordance with Ind AS.

The accounting policies set out have been applied in preparing the consolidated financial statements for the year ended 31st March, 2018, the comparative information presented in these consolidated financial statements for the year ended 31st March, 2017 and in the preparation of an opening Ind AS balance sheet at 1stApril 2016 (the Company’s date of transition). In preparing its opening Ind AS balance sheet, the Company has adjusted the amounts reported previously in consolidated financial statements prepared in accordance with the accounting standards notified under Companies (Accounting Standards) Rules, 2006 (as amended) and other relevant provisions of the Act (previous GAAP or Indian GAAP). An explanation of how the transition from previous GAAP to Ind AS has affected the group’s financial position, financial performance and cash flows is set out in the following tables and notes.

A. Exemptions and exceptions availed

Set out below are the applicable Ind AS 101 optional exemptions and mandatory exceptions applied in the transition from previous GAAP to Ind AS.

A.1 Ind AS optional exemptions A.1.1 business combinations

Ind AS 101 provides the option to apply Ind AS 103 prospectively from the transition date or from a specific date prior to the transition date. This provides relief from full retrospective application that would require restatement of all business combinations prior to the transition date.

The group elected to apply Ind AS 103 prospectively to business combinations occurring after its transition date. Business combinations occurring prior to the transition date have not been restated. The Company has applied same exemption for investment in associates and joint ventures.

A.1.2 deemed cost

Ind AS 101 permits a first-time adopter to elect to continue with the carrying value for all of its property, plant and equipment as recognised in the consolidated financial statements as at the date of transition to Ind AS, measured as per the previous GAAP and use that as its deemed cost as at the date of transition after making necessary adjustments for de-commissioning liabilities. This exemption can also be used for intangible assets covered by Ind AS 38 Intangible Assets and investment property covered by Ind AS 40 Investment Properties.

Accordingly, the group has elected to measure all of its property, plant and equipment, intangible assets and investment property at their previous GAAP carrying value.

A.1.3 designation of previously recognised financial instruments

Ind AS 101 allows an entity to designate investments in equity instruments at FVOCI on the basis of the facts and circumstances at the date of transition to Ind AS. The group has elected to apply this exemption for its investment in equity investments.

A.2.1 Estimates

An entity’s estimates in accordance with Ind AS at the date of transition to Ind AS shall be consistent with estimates made for the same date in accordance with previous GAAP (after adjustments to reflect any difference in accounting policies), unless there is objective evidence that those estimates were in error.

Ind AS estimates as at 1 April 2016 are consistent with the estimates as at the same date made in conformity with previous GAAP.

A.2.2 de-recognition of financial assets and liabilities

Ind AS 101 requires a first-time adopter to apply the de-recognition provisions of Ind AS 109 prospectively for transactions occurring on or after the date of transition to Ind AS. However, Ind AS 101 allows a first-time adopter to apply the de-recognition requirements in Ind AS 109 retrospectively from a date of the entity’s choosing, provided that the information needed to apply Ind AS 109 to financial assets and financial liabilities derecognised as a result of past transactions was obtained at the time of initially accounting for those transactions.

A.2.3 classification and measurement of financial assets

Ind AS 101 requires an entity to assess classification and measurement of financial assets (investment in debt instruments) on the basis of the facts and circumstances that exist at the date of transition to Ind AS.


Mar 31, 2016

1. RELATED PARTY DISCLOSURES

In compliance to AS -18 issued by The Institute of Chartered Accountants of India, the Disclosure of transactions with Related Parties as defined in Accounting Standard (Excluding Reimbursements) are given herein below:-

(i) RELATED PARTIES

A. Key Management Personnel & Directors

2. Sh. Rahul Bishnoi__2. Sh. S. K. Singh__3. Sh. Ashwani Kumar Sharma_

3. Sh. Anirudh Bishnoi__5. Sh. Harish Pande__6. Sh. Puneet Chandara_

4. Sh. Rajiv Mehta__8. Sh. Kailash Gupta__9. Sh. Arun Kumar_

5. Smt. Usha Pande___

B. Other Related Parties where common control exists and with whom the Company had transactions during the year

6. Growel Capital Services Pvt. Ltd. Holding Company

7. Medic amen Biotech Limited Associate Company

8. The Company has not received any confirmation from suppliers regarding their status of registration under the Micro, Small & Medium Enterprises Development Act, 2006 which came into effect from October 2, 2006 and hence disclosure required under the said act have not been given.

9. The Previous Year Figures have been reworked, regrouped, rearranged, reclassified and / or re-casted wherever deemed necessary to make them comparable with those of the current year’s figures.


Mar 31, 2015

1. Corporate information

Shivalik Rasayan Limited was registered with the ROC, Gwalior, Madhya Pradesh under the Registration number 1498/79 dated 16/03/1979. In the year 1980 company shifted its registered office from Madhya Pradesh to Uttar Pradesh under the Registration number 6992/5041 dated 23/02/1980. Old Registration number has been converted into new Corporate Identification number (CIN) L24237UR1979PLC005041. Registered office of the company is situated in the state of Uttarakhand at Village Kolhupani, P.O.Chandanwari, Dehradun - 248007. The company is manufacturer of organophosphate insecticides such as Dimethoate Technical and Malathion Technical.

2. (CONTINGENT LIABILITES)

Particulars As at March 31, As at March 31, 2015 2014

Bank Guarantee given to Uttarakhand Environment & Pollution Control Board 2,00,000 2,00,000

Bank Guarantee given to Sales Tax Department 50,000 50,000

3. The Company has not received any confirmation from suppliers regarding their status of registration under the Micro, Small & Medium Enterprises Development Act, 2006 which came into effect from October 2, 2006 and hence disclosure required under the said act have not been given.

4. The Previous Year Figures have been reworked, regrouped, rearranged, reclassified and / or re-casted wherever deemed necessary to make them comparable with those of the current year's figures.


Mar 31, 2014

1. Contingent Liabilities - (as confirmed and certified by the management)

Guarantee issued by the Banker on behalf of the company Rs.2,00,000/- (Previous year Rs.2,00,000/-) to Uttaranchal Environment & Pollution Control Board, Dehradun.

2. In the opinion of the Management, the value on realization of current assets, loans and advances in the ordinary course of business WiFi not be less than the amount at which they are stated in the Balance Sheet.

3. As per direction of Institute of Chartered Accountants of India, net safes are shown after deducting excise duty paid thereon.

4. The company has pledged its fixed deposit receipts aggregating Rs.50,000/- (Previous Year Rs.50,000/-) with Punjab National Bank, Indira Nagar Branch, Dehradun as security against guarantee issued in favor of Sales-Tax Officer.

5. Additional information pursuant to the provisions of Schedule VI to the Companies Act, 1956.

(Certified by the management but not verified by the Auditors being technical matter)

6. Other Income Rs.2,43,957/- (Previous Year Rs.2,34,021/-) includes Sale of Unusable Stores Rs.1,05,000/- (Previous Year Rs. 1,70,273/-), Insurance Claim received Rs.85,647/- (Previous Year Rs.33,748/-), Other Miscellaneous Income Rs.53,310/- (Previous Year Rs.30,000/-) and Interest Rs.27,52,273/- (Previous Year Rs.27,52,273/-).

7. Related Parties Transactions

The company has not taken or given any loan to any companies or individual in which directors have significant influence.

8. Balance with banks other than Scheduled Banks in Current Account are as under:-

Current Year Previous Year Nil Nil

Maximum amount deposited at any time during the year was as under:-

9. Particulars in respect of car taken on lease required to be disclosed under the Accounting Standard 19 on ''Leases'' issued by Institute of Chartered Accountants of India.

a) Minimum lease payments outstanding Rs. Nil

b) Present value of minimum lease payments Rs. Nil

c) Amount Due Minimum lease payments Present value of minimum lease payments

(i) Not later than one year Rs. Nil Rs. Nil

(ii) Later than one year Rs. Nil Rs. Nil

10. As per management information, the Company is complying with all the regulations of Delhi Stock Exchange.

11. The company has not dealt with any organization covered under the "Micro, Small & Medium Enterprises Development Act, 2006" during the year as certified by the management.

12. Earnings per Share

The following is a computation of earnings per share and a reconciliation of the equity shares used in the computation of basic and diluted earnings per share.

13. Previous year figures have been recast / regrouped wherever necessary to confirm the classification adopted for the current year.


Mar 31, 2013

1. Contingent Liabilities -

(as confirmed and certified by the management)

Guarantee issued by the Banker on behalf of the company Rs.2,00,000/- (Previous year Rs. 2,00,000/-) to Uttaranchal Environment & Pollution Control Board, Dehradun.

2. In the opinion of the Management, the value on realization of current assets, loans and advances in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

3. As per direction of Institute of Chartered Accountants of India, net sales are shown after deducting excise duty paid thereon.

4. The company has pledged its fixed deposit receipts aggregating Rs.50,000/- (Previous Year Rs.50,000/-) with Punjab National Bank, Indira Nagar Branch, Dehradun as security against guarantee issued in favor of Sales-Tax Officer.

5. Additional information pursuant to the provisions of Schedule VI to the Companies Act, 1956.

6. Other Income Rs.2,34,021/- (Previous Year Rs.2,20,728/-) includes Sale of Unusable Stores Rs.1,70,273/-(Previous Year Rs.1,57,000/-), Insurance Claim received Rs.33,748/- (Previous Year Rs.14,728/-), Other Miscellaneous Income Rs.30,000/- (Previous Year Rs.49,000/-) and Interest Rs.27,52,273/- (Previous Year Rs.20,95,090/-).

7. Related Parties Transactions

The company has not taken or given any loan to any companies or individual in which directors have significant influence.

8. Balance with banks other than Scheduled Banks in Current Account are as under:- Current Year Previous Year Nil Nil

Maximum amount deposited at any time during the year was as under:- Nil Nil

9. Particulars in respect of car taken on lease required to be disclosed under the Accounting Standard 19 on ‘Leases'' issued by Institute of Chartered Accountants of India.

10. As per management information, the Company is complying with all the regulations of Delhi Stock Exchange.

11. The company has not dealt with any organization covered under the "Micro, Small & Medium Enterprises Development Act, 2006" during the year as certified by the management.

12. Earnings per Share

The following is a computation of earnings per share and a reconciliation of the equity shares used in the computation of basic and diluted earnings per share.

13. Previous year figures have been recast / regrouped wherever necessary to confirm the classification adopted for the current year.


Mar 31, 2012

1. Contingent Liabilities -

(as confirmed and certified by the management)

Guarantee issued by the Banker on behalf of the company Rs.2,00,000/- (Previous year Rs.2,00,000/-) to Uttaranchal Environment & Pollution Control Board, Dehradun.

2. Estimated amount of contracts remaining to the executed on capital account and not provided for Rs. Nil (Previous year Rs. Nil).

3. The Company has provided Rs.33,78,023/- as provision for Income Tax by debiting to Profit & Loss Account.

4. In the opinion of the Management, the value on realization of current assets, loans and advances in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

5. As per direction of Institute of Chartered Accountants of India, net sales are shown after deducting excise duty paid thereon.

6. The company has pledged its fixed deposit receipts aggregating Rs.50,000/- (Previous Year Rs.50,000/-) with Punjab National Bank, Indira Nagar Branch, Dehradun as security against guarantee issued in favor of Sales-Tax Officer.

7. Profit before tax of the Company for the Financial Year ended 31/03/2011 and 31/03/2012 was Rs. 88.18 Lakh and Rs.126.65 Lakh respectively. Company hopes to maintain its profitability in future also.

8. Commission for marketing the products of the company has been paid to the selling agents this year Rs.87,59,882/-(previous year Rs.70,88,264/-).

9. Additional information pursuant to the provisions of Schedule VI to the Companies Act, 1956.

(Certified by the management but not verified by the Auditors being technical matter)

10. Other Income Rs.2,20,728/- (Previous Year Rs.5,32,506/-) includes Sale of Unusable Stores Rs. 1,57,000/-(PreviousYearRs.4,50,730/-), Insurance Claim received Rs.14,728/- (Previous Year Rs.10,776/-), Other Miscellaneous Income Rs.49,000/- (Previous Year Rs.71,000/-) and Interest Rs.20,95,090/- (Previous Year Rs.9,85,253/-).

11. Related Parties Transactions

The company has not taken or given any loan to any companies or individual in which directors have significant influence.

12. Balance with banks other than Scheduled Banks in Current Account are as under-

Current Year Previous Year

Nil Nil

Maximum amount deposited at any time during the year was as under:-

Nil Nil

13. Particulars in respect of car taken on lease required to be disclosed under the Accounting Standard 19 on ''Leases'' issued by Institute of Chartered Accountants of India.

14. As per management information, the Company is complying with all the regulations of Delhi Stock Exchange.

15. The company has not dealt with any organization covered under the "Micro, Small & Medium Enterprises Development Act, 2006" during the year as certified by the management.

16. Earnings per Share

The following is a computation of earnings per share and a reconciliation of the equity shares used in the computation of basic and diluted earnings per share.

17. Previous year figures have been recast / regrouped wherever necessary to confirm the classification adopted for the current year.


Mar 31, 2011

1. Contingent Liabilities -

(as confirmed and certified by the management)

Guarantee issued by the Banker on behalf of the company Rs.2,00,000/- (Previous year Nil) to Uttaranchal Environment & Pollution Control Board, Dehradun.

2. Estimated amount of contracts remaining to the executed on capital account and not provided for Rs. Nil (Previous year Rs. Nil).

3. The Company has provided Rs.19,75,857/- as provision for Income Tax by debiting to Profit & Loss Account.

4. In the opinion of the Management, the value on realization of current assets, loans and advances in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

5. As per direction of Institute of Chartered Accountants of India, net sales are shown after deducting excise duty paid thereon.

6. The company has pledged its fixed deposit receipts aggregating Rs.50,000/- (Previous Year Rs.50,000/ -) with Punjab National Bank, Indira Nagar Branch, Dehradun as security against guarantee issued in favor of Sales-Tax Officer.

7. Profit before tax of the Company for the Financial Year ended 31/03/2010 and 31/03/2011 was Rs. 60.19 Lakh and Rs.88.18 Lakh respectively. Company hopes to maintain its profitability in future also.

8. Commission for marketing the products of the company has been paid to the selling agents this year Rs.70,88,264/- (previous year Rs.61,11,394/-).

9. Additional information pursuant to the provisions of Schedule VI to the Companies Act, 1956. (Certified by the management but not verified by the Auditors being technical matter)

10. Miscellaneous Income Rs.5,32,506/- (Previous Year Rs.4,81,750/-) includes Sale of Unusable Stores Rs. 4,50,730/- (Previous Year Rs.4,05,525/-), Insurance Claim received Rs.10,776/- (Previous Year Rs.2,225/-), Other Miscellaneous Income Rs.71,000/- (Previous Year Rs.74,000/-) and Interest Rs.9,85,253/- (Previous Year Rs.8,48,664/-).

11. Related Parties Transactions

The company has not taken or given any loan to any companies or individual in which directors have significant influence.

12. Balance with banks other than Scheduled Banks in Current Account are as under:- Current Year Previous Year Nil Nil

Maximum amount deposited at any time during the year was as under:- Nil Nil

13. Particulars in respect of car taken on lease required to be disclosed under the Accounting Standard 19 on ‘Leases'' issued by Institute of Chartered Accountants of India.

14. As per management information, the Company is complying with all the regulations of Delhi Stock Exchange.

15. The company has not dealt with any organization covered under the "Micro, Small & Medium Enterprises Development Act, 2006" during the year as certified by the management.

16. Earnings per Share

The following is a computation of earnings per share and a reconciliation of the equity shares used in the computation of basic and diluted earnings per share.

17. Previous year figures have been recast / regrouped wherever necessary to confirm the classification adopted for the current year.

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