Mar 31, 2015
1. Share Capital
The rights, preference and restrictions attached to each class of
shares including restrictions on the distribution of dividends and the
repayment of capital are as under :
Equity Shares
The equity shares have a par value of H10 per share. Each shareholder
is entitled to one vote per share. The Company declares and pays
dividend in Indian rupees. The dividend proposed by the Board of
Directors is subject to the approval of shareholders in the ensuing
Annual General Meeting.
In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive any of the remaining assets of the
Company, after distribution of all preferential amounts, if any. The
distribution will be in proportion to the number of equity shares held
by the shareholders.
2. Contingent Liabilities & Commitments H in Lacs
Particulars As at As at
31st March 31st March
2015 2014
Contingent Liabilities
- Contingent Liabilities not provided
for in respect of Legal Matters'' 1,674.85 10.05
- Pending Export Obligations 0.09 134.75
(duty Forgone)
Commitments
- Capital Commitments:
Estimated amount of contracts remaining
to be executed on capital account 254.08 179.76
and not provided for
3. Derivatives Instruments And Hedged/ Unhedged Foreign Currency
Exposure
All derivative contracts entered into by the Company are for hedging
purposes.
4. The amount of Exchange Difference (Net):
The Foreign Exchange Income of Rs. 505.36 lacs {PY Rs. 98.03 lacs}
resulting from settlement and realignment of foreign exchange
transaction has been adjusted in the Statement of Profit & Loss.
5. Employee Benefits
a) Defined Contribution Plans :-
The Company has recognised Rs. 257.96 lacs (PY Rs. 241.54 lacs) as
expense in Statement of Profit & Loss.
b) Defined Benefit Plans :-
The Company has a defined benefit gratuity plan. Every employee who has
completed five years or more of service gets a gratuity on departure at
15 days salary (last drawn salary) for each completed year of service.
The scheme is funded. The Company has also provided for Leave
Encashment which is unfunded.
6. Segment Reporting
The Company has identified three reportable segments viz. Cinemas,
Retail and Gold & Jewellery. Segments have been identified and reported
taking into account nature of products and services, the differing
risks and returns and the internal business reporting systems. The
accounting policies adopted for segment reporting are in line with the
accounting policy of the Company with following additional policies for
segment reporting.
a) Revenue and expenses have been identified to a segment on the basis
of relationship to operating activities of the segment. Revenue and
expenses which relate to enterprise as a whole and are not allocable to
a segment on reasonable basis have been disclosed as "Unallocable".
b) Segment assets and segment liabilities represent assets and
liabilities in respective segments. Investments, tax related assets and
other assets and liabilities that cannot be allocated to a segment on
reasonable basis have been disclosed as "Unallocable".
7. Related Party Disclosure
As per Accounting Standard (AS)-18 "Related Party Disclosures", the
Company''s related parties and transactions are disclosed below:
a. List of related parties & relationships, where control exists:
Holding Company
BTL Holding Company Limited
(Formerly known as BTL Investments & Securities Ltd.) (SRS Holdings
India Ltd. merged with BTL Investments & Securities Limited w.e.f.
18.07.2013)
Subsidiary Company
SRS Worldwide (FZC) (From 12.11.2014)
SRS E Retail Ltd. (From 03.12.2014 to 06.02.2015)
SRS Talkies Ltd. (From 03.12.2014 to 06.02.2015)
Fellow Subsidiary Company
SRS Real Infrastructure Ltd. (From 18.07.2013)
Step Down Subsidiary Company
SRS Real Estate Ltd. (From 18.07.2013)
SRS Retreat Services Ltd. (From 18.07.2013)
b. Related parties & relationships with whom transactions have taken
place during the year:
i. Key Management Personnel (KMP)
Dr. Anil Jindal - Chairman
Mr. Sunil Jindal - Managing Director
Mr. Raju Bansal - Whole Time Director
Mr. Vinod Kumar - Whole Time Director
Mr. Naresh kumar Goyal - Whole Time Director (From 1.10.2014 to
31.01.2015)
Mr. Bhagwan Das Gupta - Chief Financial Officer
Dr. (Ms.) Navneet Kwatra - COO & Company Secretary
ii. Enterprises owned or significantly influenced by KMP and/or their
Relatives
SRS Finance Ltd.
BTL Holding Company Limited
(Formerly known as BTL Investments & Securities Ltd.) (SRS Holdings
India Ltd. merged with BTL Investments & Securities Limited w.e.f.
18.07.2013)
SRS Real Infrastructure Ltd.
SRS Real Estate Ltd.
SRS Portfolio Ltd (Upto 10.12.2013)
SRS Global Securities Ltd.
SRS Cinemas & Entertainment Limited (From 20.05.2013 to 25.01.2014)
SRS Modern Retail Limited (From 24.05.2013 to 25.01.2014)
SRS Royal Bites Limited (From 1 1.06.2013 to 15.02.2014)
Jai Shiv Jewellers & Manufacturers Ltd (From 1.10.2014 to 31.01.2015)
8. In accordance with Accounting Standard "AS-19 on Leases" the
following disclosures in respect of operating leases is made as under:
A. Assets taken on operating lease:
a) The Company has taken certain shops/offices/other Fixed Assets on
non-cancellable operating lease. Minimum lease payments of Rs. 3421.69
lacs (PY Rs. 2,741.51 lacs) are charged to Statement of Profit & Loss
during the year.
b) Total contingent rents (Calculated on Revenue Sharing Basis)
recognized as expense in the statement of profit and loss for the year
is Rs. 272.12 lacs (PY Rs. 259.81 lacs).
c) Future commitments in respect of minimum lease payments payable in
respect of aforesaid lease entered by the Company are as follows:
d) Sub-lease payments received (on accrual basis) of Rs. 137.62 lacs
(PY Rs. 135.78 lacs) are recognized in the Statement of Profit & Loss.
e) The total of future minimum sub-lease payments expected to be
received under non-cancellable sub-leases at the Balance Sheet date are
Rs. 315.34 lacs (PY Rs. 248.91 lacs).
9. In the opinion of the management, the value on realization of
current assets, loans & advances in the ordinary course of business
would not be less than the amount at which they are stated in the
Balance Sheet and provisions for all known liabilities has been made.
10. Figures of previous year have been regrouped and/ or rearranged
wherever necessary to make them comparable with those of the current
year.
11. All amounts in the financial statements are rounded off to the
nearest Rupee in lacs, except as otherwise stated.
12.Note 1 to 45 are annexed to and form an integral part of the Balance
Sheet as at 31st March 2015 and Statement of Profit & Loss for the year
ended as on that date.
Mar 31, 2014
1 Contingent Liabilities & Commitments Rs.In Lacs
As at As at
Particulars 31/Mar/2014 31/Mar/2014
Contingent Liabilities
- Contingent Liabilities not provided
for in respect of Legal 10.05 8.07
Matters''
- Pending Export Obligations (duty
forgone) 134.75 -
Commitments
- Capital Commitments:
Estimated amount of contracts remaining
to be executed on 179.76 745.40
capital account and not provided for
2 Utilisation of IPO Proceeds
Pursuant to the approval of the shareholders of the Company granted in
their Extra-Ordinary General Meeting held on 27th April 2010, the
Company came out with an Initial Public Offer ("IPO") of 3,50,00,004
Equity shares of Rs. 10 each at a premium of Rs. 48 per share and made
allotment of 3,50,00,004 equity shares on 13th September 2011. The
issue has been made in accordance with the terms of the Company''s
prospectus dated 4th September, 2011 and the shares of the Company got
listed on the Bombay Stock Exchange Limited and The National Stock
Exchange of India Limited on 16th September 2011
3 The amount of Exchange Difference (Net):
The Foreign Exchange Income of Rs. 98.02 lacs (PY Rs. 621.43 lacs)
resulting from settlement and realignment of foreign exchange
transaction has been adjusted in the Statement of Profit & Loss.
4 Employee Benefits
a) Defined Contribution Plans :-
The Company has recognised Rs. 241.54 lacs (PY Rs. 215.14 lacs) as expense
in Statement of Profit & Loss.
b) Defined Benefit Plans :-
The Company has a defined benefit gratuity plan. Every employee who has
completed five years or more of service gets a gratuity on departure at
15 days salary (last drawn salary) for each completed year of service.
The scheme is funded. The Company has also provided for Leave
Encashment which is unfunded.
The following tables summarize the components of net benefit expense
recognized in the Statement of Profit & Loss, the funded status and
amounts recognized in the balance sheet for the respective plans (as
per Actuarial Valuation as on 31st March 2014).
5 Segment Reporting
The Company has identified three reportable segments viz. Cinemas,
Retail and Gold & Jewellery. Segments have been identified and reported
taking into account nature of products and services, the differing
risks and returns and the internal business reporting systems. The
accounting policies adopted for segment reporting are in line with the
accounting policy of the Company with following additional policies for
segment reporting.
a) Revenue and expenses have been identified to a segment on the basis
of relationship to operating activities of the segment. Revenue and
expenses which relate to enterprise as a whole and are not allocable to
a segment on reasonable basis have been disclosed as "Unallocable".
b) Segment assets and segment liabilities represent assets and
liabilities in respective segments. Investments, tax related assets and
other assets and liabilities that cannot be allocated to a segment on
reasonable basis have been disclosed as "Unallocable"
6 Related Party Disclosure
As per Accounting Standard (AS)-18 "Related Party Disclosures", the
Company''s related parties and transactions are disclosed below:
a List of related parties & relationships, where control exists:
Holding Company
BTL Holding Company Limited
(Formerly known as BTL Investments & Securities Ltd.) (SRS Holdings
India Ltd. merged with BTL Holding Company Limited w.e.f. 18.07.2013)
Subsidiary Company
SRS Cinemas & Entertainment Limited (From 20.05.2013 to 25.01.2014) SRS
Modern Retail Limited (From 24.05.2013 to 25.01.2014)
Fellow Subsidiary Company
SRS Real Infrastructure Ltd. (From 18.07.2013)
Step Down Subsidiary Company
SRS Real Estate Ltd. (From 18.07.2013)
SRS Retreat Services Ltd. (From 18.07.2013)
b Related parties & relationships with whom transactions have taken
place during the year:
i Key Management Personnel (KMP)
Dr. Anil Jindal -Chairman
Mr. Sunil Jindal -Managing Director
Mr. Raju Bansal -Whole Time Director
Mr. Vinod Kumar -Whole Time Director
ii Enterprises owned or significantly influenced by KMP and/or their
Relatives SRS Finance Ltd.
BTL Holding Company Limited
(Formerly known as BTL Investments & Securities Ltd.) (SRS Holdings
India Ltd. merged with BTL Holding Company Limited w.e.f. 18.07.2013)
SRS Real Infrastructure Ltd. SRS Real Estate Ltd. SRS Global
Securities Ltd. SRS Portfolio Ltd (Upto 10.12.2013)
SRS Cinemas & Entertainment Limited (From 20.05.2013) SRS Modern Retail
Limited (From 24.05.2013) SRS Royal Bites Limited (From 11.06.2013)
7 In accordance with Accounting Standard "AS-19 on Leases" the
following disclosures in respect of operating leases is made as under:
A. Assets taken on operating lease:
a) The Company has taken certain shops/offices/other Fixed Assets on
non-cancellable operating lease. Minimum lease payments of Rs. 2,741.51
lacs (PY Rs. 2,250.49 lacs) are charged to Statement of Profit & Loss
during the year.
b) Total contingent rents (Calculated on Revenue Sharing Basis)
recognized as expense in the statement of profit and loss for the year
is Rs. 259.81 lacs (PY Rs. 630.66 lacs).
d) Sub-lease payments received (on accrual basis) of Rs. 135.78 lacs (PY
Rs. 187.96 lacs) are recognized in the Statement of Profit & Loss.
e) The total of future minimum sub-lease payments expected to be
received under non-cancellable sub-leases at the Balance Sheet date are
Rs. 248.91 lacs (PY Rs. 160.03 lacs).
b) Total contingent rents (Calculated on Revenue Sharing Basis)
recognized as income in the statement of profit and loss for the year
is Rs. 27.12 lacs (PY Rs. 42.68 lacs).
8 In the opinion of the management, the value on realization of
current assets, loans & advances in the ordinary course of business
would not be less than the amount at which they are stated in the
Balance Sheet and provisions for all known liabilities has been made.
9 All amounts in the financial statements are rounded off to the
nearest Rupee in lacs, except as otherwise stated.
10 Note 1 to 45 are annexed to and form an integral part of the Balance
Sheet as at 31st March 2014 and Statement of Profit & Loss for the year
ended as on that date.
Mar 31, 2013
1 Contingent Liabilities & Commitments
Rs. in Lacs
Particulars As at 31st As at 31st
March 2013 March 2012
Contingent Liabilities
- Contingent Liabilities not
provided for in respect of
Legal 8.07 23.24
Matters''
- Pending Export Obligations
(duty forgone) 1.44
Commitments
- Capital Commitments:
Estimated amount of contracts
remaining to be executed on 745.40 374.73
capital account and not
provided for
2 The amount of Exchange Difference (Net):
The Foreign Exchange Income of Rs. 621.43 lacs {PY Rs. (-) 164.01 lacs}
resulting from settlement and realignment of foreign exchange
transaction has been adjusted in the Statement of Profit & Loss.
3 Employee Benefits
a) Defined Contribution Plans
The Company has recognised Rs. 215.14 lacs (PY Rs. 165.37 lacs) as expense
in Statement of Profit & Loss.
b) Defined Benefit Plans :-
The Company has a defined benefit gratuity plan. Every employee who has
completed five years or more of service gets a gratuity on departure at
15 days salary (last drawn salary) for each completed year of service.
The scheme is funded. The Company has also provided for Leave
Encashment which is unfunded.
4 Segment Reporting
The Company has identified three reportable segments viz. Cinemas, Cash
& Carry and Gold & Jewellery. Segments have been identified and
reported taking into account nature of products and services, the
differing risks and returns and the internal business reporting
systems. The accounting policies adopted for segment reporting are in
line with the accounting policy of the Company with following
additional policies for segment reporting.
a) Revenue and expenses have been identified to a segment on the basis
of relationship to operating activities of the segment. Revenue and
expenses which relate to enterprise as a whole and are not allocable to
a segment on reasonable basis have been disclosed as "Unallocable".
b) Segment assets and segment liabilities represent assets and
liabilities in respective segments. Investments, tax related assets and
other assets and liabilities that cannot be allocated to a segment on
reasonable basis have been disclosed as "Unallocable".
5 Related Party Disclosure
As per Accounting Standard (AS)-18 "Related Party Disclosures", the
Company''s related parties and transactions are disclosed below :
a. List of related parties & relationships, where control exists:
Holding Company
SRS Holdings India Ltd. (Formerly known as BTL Industries Ltd.) (w.e.f.
16.03.2012)
Subsidiary Company
SRS Gems & Jewellery Ltd. (upto 31st March, 2012)
b. Related parties & relationships with whom transactions have taken
place during the year:
i Key Management Personnel (KMP)
Dr. Anil Jindal - Chairman Mr. Sunil Jindal - Managing Director Mr.
Raju Bansal - Whole Time Director Mr. Vinod Kumar - Whole Time Director
ii Enterprises owned or significantly influenced by KMP and/or their
Relatives SRS Finance Ltd.
SRS Holdings India Ltd. (Formerly known as BTL Industries Ltd.) (Upto
15th March 2012)
SRS Real Infrastructure Ltd.
SRS Real Estate Ltd.
SRS Global Securities Ltd.
SRS Portfolio Ltd.
SRS Entertainment Limited (Closed under exit scheme w.e.f. 31.10.2011)
SRS Retail Limited (Closed under exit scheme w.e.f. 31.10.2011)
SRS Value Bazaar Limited (Closed under exit scheme w.e.f. 31.10.2011)
6 In accordance with Accounting Standard "AS-19 on Leases" the
following disclosures in respect of operating leases is made as under:
A. Assets taken on operating lease:
a) The Company has taken certain shops/offices/other Fixed Assets on
non-cancellable operating lease. Minimum lease payments of 2,250.49
lacs (PY 2,280.90 lacs) are charged to Statement of Profit & Loss
during the year.
b) Total contingent rents (Calculated on Revenue Sharing Basis)
recognized as expense in the statement of profit and loss for the year
is 630.66 lacs (PY 331.59 lacs).
d) Sub-lease payments received (on accrual basis) of 187.96 lacs (PY
67.58 lacs) are recognized in the Statement of Profit & Loss.
e) The total of future minimum sub-lease payments expected to be
received under non-cancellable sub-leases at the Balance Sheet date are
160.03 lacs (PY 268.82 lacs).
7 In the opinion of the management, the value on realization of
current assets, loans & advances in the ordinary course of business
would not be less than the amount at which they are stated in the
Balance Sheet and provisions for all known liabilities has been made.
8 All amounts in the financial statements are rounded off to the
nearest Rupee in lacs, except as otherwise stated.
9 Note 1 to 45 are annexed to and form an integral part of the Balance
Sheet as at 31st March 2013 and Statement of Profit & Loss for the year
ended as on that date.
Mar 31, 2012
1.1 The rights, preference and restrictions attached to each class of
shares including restrictions on the distribution of dividends and the
repayment of capital are as under:
Equity Shares
The equity shares have a par value of Rs. 10 per share. Each
shareholder is entitled to one vote per share. The Company declares and
pays dividend in Indian rupees. The dividend proposed by the Board of
Directors is subject to the approval of shareholders in the ensuing
Annual General Meeting.
During the year ended 31st March 2012, the amount of dividend per share
recognised as distribution to equity holders was Re.1.00 (PY Rs.Nil).
The total dividend appropriation for the year ended 31st March 2012
amounts to Rs. 1,392.91 lacs (PY Rs.Nil) excluding Dividend
Distribution Tax of Rs. 225.96 lacs(PY Rs.Nil)
In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive any of the remaining assets of the
Company, after distribution of all preferential amounts, if any. The
distribution will be in proportion to the number of equity shares held
by the shareholders.
* During the year the Company has become subsidiary of SRS Holdings
India Ltd. (Formerly known as BTL Industries Limited) vide Court order
in respect of amalgamataion of promoter group companies dated 16th
March 2012
# During the year the Companies has been merged with SRS Holdings India
Ltd. (Formerly known as BTL Industries Limited) vide Court order in
respect of amalgamataion of promoter group companies dated 16th March
2012.
2 Contingent Liabilities & Commitments
R in Lacs
Particulars As at 31st As at 31st
March 2012 March 2011
Contingent Liabilities
- Contingent Liabilities not
provided for in respect of Legal 23.24 51.60
Matters''
- Pending Export Obligations
(duty forgone) 1.44 -
Commitments
- Capital Commitments:
Estimated amount of contracts
remaining to be executed on 374.73 8.27
capital account and not
provided for
Share issue expenses incurred during the financial year ended 31st
March 2012 amounting to Rs. 1,045.18 lacs (PY Rs. 107.13 lacs) pertain
to expenses incurred in connection with the public issue of equity
shares of the Company. In accordance with the provisions of Section 78
of the Companies Act, 1956, these expenses were charged off against the
available balance of the ''Security Premium'' Account.
3 The amount of Exchange Difference (Net):
a) The Foreign Exchange Expense of Rs. 164.01 lacs (PY Rs. 0.27 lacs)
resulting from settlement and realignment of foreign exchange
transaction has been adjusted in the Statement of Profit & Loss.
b) Premium paid on Forward Contract of Rs. Nil (PY Rs. 30.69 lacs) is
recognized as expense in Statement of Profit & Loss on time proportion
basis.
4 Employee Benefits
a) Defined Contribution Plans :-
The Company has recognised Rs. 165.37 lacs (PY Rs. 143.22 lacs) as
expense in Statement of Profit & Loss.
b) Defined Benefit Plans :-
The Company has a defined benefit gratuity plan. Every employee who has
completed five years or more of service gets a gratuity on departure at
15 days salary (last drawn salary) for each completed year of service.
The scheme is funded. The Company has also provided for Leave
Encashment which is unfunded.
The following tables summarize the components of net benefit expense
recognized in the Statement of Profit & Loss, the funded status and
amounts recognized in the balance sheet for the respective plans (as
per Actuarial Valuation as on 31st March 2012).
5 Segment Reporting
The Company has identified four reportable segments viz. Cinemas, Food
& Beverages, Cash & Carry and Gold & Jewellery. Segments have been
identified and reported taking into account nature of products and
services, the differing risks and returns and the internal business
reporting systems. The accounting policies adopted for segment
reporting are in line with the accounting policy of the
Company with following additional policies for segment reporting.
a) Revenue and expenses have been identified to a segment on the basis
of relationship to operating activities of the segment. Revenue and
expenses which relate to enterprise as a whole and are not allocable to
a segment on reasonable basis have been disclosed as "Unallocable".
b) Segment assets and segment liabilities represent assets and
liabilities in respective segments. Investments, tax related assets and
other assets and liabilities that cannot be allocated to a segment on
reasonable basis have been disclosed as "Unallocable".
6 Related Party Disclosure
As per Accounting Standard (AS)-18 "Related Party Disclosures", the
Company''s related parties and transactions are disclosed below :
a. List of related parties & relationships, where control exists:
Holding Company
SRS Holdings India Ltd. (Formerly known as BTL Industries Ltd.) (w.e.f.
16.03.2012) (Refer note no. 2.2)
Subsidiary Company
SRS Gems & Jewellery Ltd. (Formerly known as SRS Jewells Limited)
(Ceases to exist subsidiary w.e.f.31/03/2012)
b. Related parties & relationships with whom transactions have taken
place during the year:
i Key Management Personnel (KMP)
Dr. Anil Jindal - Chairman
Mr. Sunil Jindal - Managing Director
Mr.Raju Bansal - Whole Time Director
Mr. Vinod Kumar - Whole Time Director
ii Enterprises owned or significantly influenced by KMP and/or their
Relatives SRS Finance Ltd.
SRS Holdings India Ltd. (Formerly known as BTL Industries Ltd.) (Upto
15th March 2012)
SRS Real Infrastructure Ltd.
SRS Real Estate Ltd.
SRS Portfolio Ltd
SRS Entertainment Limited (Closed under exit scheme w.e.f. 31.10.2011)
SRS Retail Limited (Closed under exit scheme w.e.f. 31.10.2011)
SRS Value Bazaar Limited (Closed under exit scheme w.e.f. 31.10.2011)
Vinod Gas Agencies
7 In accordance with Accounting Standard "AS-19 on Leases" the
following disclosures in respect of operating leases is made
as under:
A. Assets taken on operating lease:
a) The Company has taken certain shops/offices/other Fixed Assets on
non-cancellable operating lease. Minimum lease payments of Rs. 2,280.90
lacs (PY Rs. 2,093.07 lacs) are charged to Statement of Profit & Loss
during the year.
b) Total contingent rents (Calculated on Revenue Sharing Basis)
recognized as expense in the statement of profit and loss for the year
is Rs. 331.59 lacs (PY Rs. 85.12 lacs).
d) Sub-lease payments received (on accrual basis) of Rs. 67.58 lacs (PY
Rs. 138.22 lacs) are recognized in the Statement of Profit & Loss.
e) The total of future minimum sub-lease payments expected to be
received under non-cancellable sub-leases at the Balance Sheet date are
Rs. 268.82 lacs (PY Rs. 320.90 lacs).
b) Total contingent rents (Calculated on Revenue Sharing Basis)
recognized as income in the statement of profit and loss for the year
is Rs. 42.55 lacs (PY Rs. 38.55 lacs).
8 In the opinion of the management, the value on realization of current
assets, loans & advances in the ordinary course of business would not
be less than the amount at which they are stated in the Balance Sheet
and provisions for all known liabilities has been made.
9 Previous year figures have been redrawn to confirm to the current
year''s classification as per the notification of Revised Schedule VI
under the Companies Act, 1956 for the financial year commencing on or
after 1st April 2011.
10 All amounts in the financial statements are rounded off to the
nearest Rupee in lacs, except as otherwise stated.
11 Note 1 to 45 are annexed to and form an integral part of the Balance
Sheet as at 31st March 2012 and Statement of Profit & Loss for the year
ended as on that date.
Mar 31, 2011
1. Capital commitment
Estimated amount of contracts remaining to be executed on capital
account and not provided for Rs. 8.27 lacs py Rs. 923.91 lacs
2. Contingent liabilities not provided for in respect of Claims against
company not acknowledged as debt exclusive interest & penalty if any
are as follows legal matter Rs. 51.60 lacs
3. In the opinion of the management the value on realization of current
assets loan & advances in the ordinary course of business would not be
less than the amount at which they are stated in the balance sheet and
provisions for all known liabilities has been made
4. Sales included entertainment tax of Rs. 585.95 lacs py Rs. 220.6
lacs for which the company is exempted for deposition in terms of the
scheme of up state government
b) No interest has been paid during the year and payable as on March
31,2011.
c) The above information as required to be disclosed under Micro, small
and Medium Enterprises Development Act, 2006 has been determined to the
extent such parties have been identified on the basis of information
available with the Company and is given "Current Liabilities".
5.Raw meterial of Rs. 1934 .61 lacs py Rs. 1850.94 lacs as on march
31.2011 is lying with third parties
6.Prior period expenses of Rs. nill by Rs. 61.79 lacs have been charged
to profit & loss account
7. During the year company has purchased commercial sites aggregating
Rs. 1795.10 from huda in open auction scheme announced by head for
commercial site /school site at Faridabad and palwal for which Rs.
449.40 lacs has been paid during the year and amount of Rs. 1346.10
lacs payable show as deferred credit payment under the head current
liabilities which will be paid in half / yearly instalments over
specified period
Company has got the allotment letters along with possession of the
above sites the legal title of which will be transferred in the name of
the company after making the payment of full consideration
8. The amount of exchange difference net
A) the foreign exchange income of Rs. 0.03 lacs by Rs. nil resulting
form settlement and realignment of foreign exchange transaction has
been abdicated in the profit & loss account
B)premium paid on forward contract is Rs. 65.52 lacs out of which Rs.
30.69 lacs by Rs. 34.83 lacs is recognized as expense to profit & loss
account on time proportion basis
C) forward contracts entered into for hedging purpose and out standing
as on march 31. 2011
9 assets taken on operating lease
A. The company has taken certain shops /offices other fixed assets on
non cancellable operation lease minimum lease payments of Rs. 2.093.07
lacs are charged to profit & loss account during year
B. total contingent rents calculated on revenue sharing basis
recognized as expense in the statement of profit and loss for the year
is Rs. 85.12 Rs. 15.64 lacs
C. future commitments in respect of minimum lease payments payable in
respect of a forced said lease entered by the company are as follows
D.sub lease payments received on accrual basis of Rs. 138.22 lacs pay
Rs. 132.22 lacs are recognized in the profit and loss account
E.the total of future minimum sub lease payments expected to be
received under non cancellable sub leases at the balance sheet date are
Rs. 320.90 lacs py Rs. 481.11 lacs
Total contingent rents calculated on revenue sharing basis recognized
as income in the statement of profit and loss for the year is Rs. 38.55
lacs by Rs. 30.73 lacs
10 employee benefits
A)defined contribution plans
The company has recognised Rs..143.22 lacs pr Rs..102.92 lacs as
expense in profit & loss account
B) defined benefit plans
The company has defined benefit gratuity plan every employee who has
competed five year or more of service get s gratuity on department at
15 days salary least draw salary for each completed year of service the
scheme is funded the company has also provided for leave encashment
which is unfunded
The following tables summarized the components of net benefit expense
recognized in the profit and loss account the funded status and amounts
recognized in the balance sheet for the respective plans as per
actuarial valuation as on march 31.2011
As per accounting standard related party disclosures the company''s
related parties and transaction are disclosed below
A list of related parties & relationships where control exists
subsidiary company
SRS Jewells limited formerly SRS bullions & jewellers limited w.e.f
31/03/10 B related parties & relationship with whom transaction have
taken place during the year
key mangement personnel
Dr anil jindal chairman
Mr sunil jindal management director
Mr raju banasal whole time director
Mr vinof gupta whole time director
enterprises owned or significantly influenced by kmp and or their
relatives
SRS finance ltd w.e.f.26.03.2010
Btl industries ltd
SRS global securities limited formerly SRS housing finance ltd
Btl portfolio ltd
SRS real infrastructure ltd
SRS real estate ltd
Btl investment securities ltd SRS buildcon pvt ltd w.e.f.01.02.2010
SRS portfolio ltd
Vinod gas agencies
Note
Above remuneration is inclusive of allowances and perquisites but
excluding the value of non monetary perquisites if any & gratuity as
the provision for gratuity is determined for the company as a whole and
no separate amount for the directors is available no leave encashment
benefit is available to the directors
Computation of net profit in accordance with the relevant provisions of
the companies act 1956 has not been disclosed as no commission is
payable to the director
Additional information pursuant to the provision of Para 3 4c and 4 d
of part ii of schedule vi to the companies act 1956 as certified by the
management to the extent applicable
Note installed capacity has not been given as the company is getting
the goofs manufactured on work contract basis from the job workers
Previous year figures have been regrouped rearranged where ever
necessary to confirm to this year''s classification
All amounts in the financial statement are rounded off to nearest rupee
in lacs except as otherwise stated
Schedules 1 to 23 are annexed to and from an integral part of the
balance sheet as at march 31 2011 and profit & loss account for the
year ended as on that date Signatures to schedules i to 23 as per our
report of eve date attached