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Notes to Accounts of Star Delta Transformers Ltd.

Mar 31, 2018

General Information

Star Delta Transformers Limited (“the Company”) is a public limited company, which is domiciled and incorporated in the Republic of India with its registered office situated at “92-A, Sector - A, Industrial Area, Govindpura, Bhopal - 462023” The Company was incorporated under the Companies Act,1956 on February 17, 1977. The Company is a manufacturer of distribution and power transformers.

a) Right, preference and restrictions attached to equity shares :

The Company has issued only one class of equity shares having a par value of Rs.10 each. Each equity shareholder is entitled to one vote per equity share.

Nature and purpose of reserves:

i) Security premium reserve

Security premium reserve is used to record the premium on issue of share. The reserve is utilised in accordance with the provisions of the Act.

ii) Capital redemption reserve

Capital redemption reserve was created for redemption of preferance shares.

1.1 Term Loan from HDFC Bank Ltd is Secured by First charge on the entire fixed assets of the Company including Land and Buildings situated at S.No.13/2/2 Village Gagorni, District Rajgarh.

1.2 Car Loan from State Bank of India is secured by hypothecation of the Car purchased.

Details of security:

Working Capital loan is secured by first charge over entire current assets of the Company and by first mortgage/charge on immovable properties situated at 92-A, Industrial Area, Govindpura, Bhopal. All credit facilities from HDFC Bank Ltd. India including Term Loan as per Note 14 above is collaterally secured by Equitable Mortgage of house property at E-1/207 owned by Shri Kishore Gupta Director of the Company also also by their personal guarantee.

Note 2 : Income tax expenses

This note provide an analysis of the Company’s income tax expenses, show amounts that are recognised directly in equity and how the tax expense is affected by non-assessable and non-deductable items.

Note 3 : Related Party

1. Key Managerial Personnel

Mr. Kishore Gupta Mr. Rakesh Gupta Mr. Mayank Gupta

2. Entities under common control

Bhopal Wires Private Limited Neha Industries

3. Transactions with related parties

The following transactions occurred with related parties :-

Note 4 : Commitments

Note 5 : First time adoption of Ind AS

Transition to Ind AS

These are the company’s first financial statements prepaired in accordance with Ins AS.

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

A. Exemption and exceptions availed

B. Reconciliations between previous GAAP and Ind AS

C. Notes to first-time adoption


Mar 31, 2016

1 Working Capital loan is secured by first charge over entire current assets of the Company and by first mortgage/ charge on immovable properties situated at 92-A, Industrial Area, Govindpura, Bhopal. All credit facilities from State Bank of India including Term Loan as per Note 3 above is collaterally secured by Equitable Mortgage of house property at E-1/207 owned by Shri Kishore Gupta and Shri Rakesh Gupta, both directors of the Company also also by their personal guarantee.

2 The details of amounts outstanding to Micro, Small and Medium Enterprises determined to the extent such Parties have been identified based on available information collected by the Management. This has been relied upon by the Auditors.

‘Includes Statutory dues, Security deposits & Advance from customers.

3 As per accounting standard 17 (AS17) on Segment Reporting, segment information should be provided for reportable segment where the segment revenue constitutes more than 10% of total revenue. The company operates in two segments viz. manufacturing of transformers and generation of power from Solar Plant. However the revenue from Solar Power generation is less than 10% of total revenue hence not separately disclosed under "Segment reporting".

4 The previous year figures have been regrouped/reclassified, wherever necessary to conform to the current year presentation.


Mar 31, 2015

1 As per accounting standard 17 (AS17) on Segment Reporting, segment information should be provided for reportable segment where the segment revenue constitutes more than 10% of total revenue. The company operates in two segments viz. manufacturing of transformers and generation of power from Solar Plant. However the revenue from Solar Power generation is less than 10% of total revenue hence not separately disclosed under "Segment reporting".

2 The previous year figures have been regrouped/reclassified, wherever necessary to conform to the current year presentation.


Mar 31, 2014

1 As per accounting standard 17 (AS17) on Segment Reporting, segment information should be provided for reportable segment where the segment revenue constitutes more than 10% of total revenue. The company operates in two segments viz. manufacturing of transformers and generation of power from Solar Plant. However the revenue from Solar Power generation is less than 10% of total revenue hence not separately disclosed under "Segment reporting".

2 The previous year figures have been regrouped/reclassified, wherever necessary to conform to the current year presentation.

3 CONTINGENT LIABILITIES AND COMMITMENTS

As at As at 31st March, 2014 31st March, 2013

(i) Contingent Liabilities

(A) Claims against the company NIL NIL not acknowledged as debts

(B) Guarantees

(i) guarantees to banks and financial institutions against NIL NIL credit facilities extended to third parties

(ii) Performance Guarantees

(a) In respect of joint ventures NIL NIL

(b) In respect of others 2380.49 Lacs 1068.61 Lacs

(iii) Outstanding guarantees furnished to Banks and financial institution including in respect of letters of credits

(a) In respect of joint ventures NIL NIL

(b) In respect of others 246.35 Lacs 250.26 Lacs

(c) Others Money for which the company is contingently liable

(i) Liability in respect of bills discounted with banks (Including third party bills discounting) NIL NIL

(II) Commitments

(A) Estimated amount of contacts remaining to be executed on capital account and not provided for:

Tangible assets NIL NIL

Intangible assets NIL NIL

(B) Uncalled Liability on shares and other investments partly paid NIL NIL

(C) Others commitments


Mar 31, 2013

1.1 The details of amounts outstanding to Micro, Small and Medium Enterprises determined to the extent such Parties '' have been identified based on available information collected by the Management. This has been relied upon by the Auditors.

2 As per accounting standard 17 (AS17) on Segment Reporting, segment information should be provided for reportable segment where the segment revenue constitutes more than 10% of total revenue. The company operates in two segments viz. manufacturing of transformers and generation of power from Solar Plant. However the revenue from Solar Power generation is less than 10% of total revenue hence not separately disclosed under "Segment reporting".

3 The previous year figures have been regrouped/reclassified, wherever necessary to conform to the current year presentation.

4 CONTINGENT LIABILITIES AND COMMITMENTS As at As at 31 st March, 2013 31 st March, 2012

(i) Contingent Liabilities

(A) Claims against the company not acknowledged as debts NIL NIL

(B) Guarantees

(i) guarantees to banks and financial institutions against credit facilities extended to third parties NIL NIL

(ii) Performance Guarantees

(a) In respect of joint ventures NIL NIL

(b) In respect of others 106860733/- 103742972/-

(iii) Outstanding guarantees furnised to Banks and financial institution including in respect of letters of credits

(a) In respect of joint ventures NIL NIL

(b) In respect of others 25026100/- 12676068/-

(C) Others Money for which the company is contingently liable

(i) Liability in respect of bills discounted with banks

(Including third party bills discounting) NIL NIL

(II) Commitments

(A) Estimated amount of contacts remaining to be executed on capital account and not provided for

Tangible assets NIL NIL

Intangible assets NIL NIL

(B) Uncalled Liability on shares and other investments partly paid NIL NIL

(C) Others commitments


Mar 31, 2012

1.1 The details of amounts outstanding to Micro, Small and Medium Enterprises determined to the extent such Parties have been identified based on available information collected by the Management. This has been relied upon by the Auditors.


Mar 31, 2011

(I) CONTIGNENT LIABILITIES :

All liabilities have been provided for in the accounts except libilities of a contigent nature which have been


Mar 31, 2010

(I) CONTIGNENT LIABILITIES :

All liabilities have been provided for in the accounts except libilities of a contigent nature which have been


Mar 31, 2009

(I) CONTIGNENT LIABILITIES :

All liabilities have been provided for in the accounts except libilities of a contigent nature which have been


Mar 31, 2008

(I) COTIGENT LIABILITIES :

All liabilities have been provided for in the accounts except libilities of a contigent nature which have been disclosed

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