Mar 31, 2014
Company overview
Toyama Electric Limited (''the company'') was incorporated as a private
limited company on Julyl5th,1985 and domiciled in India and
incorporated under the provisions of the Companies Act, 1956. Company
was converted into Public company on 1st December, 1993 and listed in
Bombay Stock exchange. The Company is engaged in the manufacturing and
selling of electrical switches, transformers and components there of.
1) The reconciliation of the number of equity shares and share
capital:
2 ) Rights, preferences, and restriction attached to shares.
The company has only one class of equity shares having par value of Rs
10 per share. Each holder of equity shares is entitled to one vote per
share. The dividend proposed by the Board of Directors is subject to
approval of the shareholders in the ensuing Annual General Meeting.
In the event of the liquidation of the Company, the holder of equity
shares will be entitled to receive the remaining asset of the Company,
after distribution of all preferential amount, the distribution will be
proportionate to the number of equity shares held by the shareholders.
3) Capital Commitments
Estimated amount contracts remaining to be executed on capital account
and not provided for (Net of advances)- NIL (previous year-Rs.
170,000/-)
4) Segment Reporting
The Company operates in only one primary segment of business. Secondary
segmental reporting is based on the geographical location of customers.
During the year company had entire business within India hence separate
segmental reporting is not applicable.
5) Balances in parties accoounts are subject to confirmation and
reconciliation.
6) Based on the information available with the Company, there are no
overdue amount payable to Micro, Small and Medium Enterprises as
defined under the Micro, Small and Medium Enterprises Development Act,
2006. Further, the Company has not paid any interest to any Micro,
Small and Medium Enterprises during the year. This has been relied upon
by the auditors.
7) Impairment of Assets - Accounting Standard- 28
The Company has carrier! out a verification of Assets and found no
material Impairment of Assets as on 31- 03-2014. therefore no provision
is made in respect of Impairment of Assets during the year.
8) Leasing arrangements Operating Leases
i)The Company has taken various office premises under operating lease.
These are generally not non- cancelable and range between 11 months and
3years and are renewable by mutual consent on mutually agreeable terms.
The Company has given refundable interest free security deposits under
certain agreements.
ii)Building is taken on operating lease with options of renewal against
increased rent and premature termination of agreement.
iii)Lease payments are recognized in the statement of profit & loss
under "Lease Rentals" in note no 24
iv)Future minimum lease payments under non- cancellable operating lease
are Nil,
v)There are no contingent rents.
8) Remittance in Foreign Currency on account of dividends:
9) Investments in Mutal Funds and Other Equity Shares arc stated at
cost. No provision for diminution in value is made since these
investments are intended to be held for a longer period.
10) No depreciation has been provided on other office buildings as the
same has not been used during the year.
11) There were no contingent liablities, Necessary provisions have been
made in the books of accounts for the year 2013-14 in respect of all
known liabilities. There were no contingents assets arise from the
unplanned or other unexpected events that give rise to possibility of
an inflow of economic benefits.
12) Previous year''s figures have been regrouped / reclassified wherever
necessary to conform to current year''s classification.
Mar 31, 2013
1. Company overview
Toyama Electric Limited (''the company'') was incorporated as a private
limited company on Julyl5th, 1985 and domiciled in India and
incorporated under the provisions of the Companies Act, 1956. Company
was converted into Public company on 1st December, 1993 and listed in
Bombay Stock exchange. The Company is engaged in the manufacturing and
selling of electrical switches, transformers and components there of.
2 Capital Commitments
Estimated amount of contracts remaining to be executed ori capital
account and not provided for (Net of advances) - Rs.170,000/- (Previous
Year-Rs NIL)
3 Segment Reporting
The Company operates in only one primary segment of business. Secondary
segmental reporting is based on the geo- graphical location of
customers. During the year company had entire business within India
hence separate segmental reporting is not applicable.
4 Foreign currency exposures
Details of foreign currency exposure as at 31" March, 2013 s given
below
5 Balances in parties accoounts are subject to confirmation and
reconciliation.
6 Based on the information available with the Company, there are no
overdue amount payable to Micro, Small and Medium Enterprises as
defined under the Micro, Small and Medium Enterprises Development Act,
2006. Further, the Company has not paid any interest to any Micro,
Small and Medium Enterprises during the year. This has been relied upon
by the auditors.
7 Impairment of Assets - Accounting Standard- 28
The Company has carried out a verification of Assets and found no
material Impairment of Assets as on 31-03-2013, therefore no provision
is made in respect of Impairment of Assets during the year.
8 Leasing arrangements
Operating Leases
i The Company has taken various office premises under operating lease.
These are generally not non-cancelable and range between 11 months and
3years and are renewable by mutual consent on mutually agreeable terms.
The Company has given refundable interest free security deposits under
certain agreements.
ii Building is taken on operating lease with options of renewal against
increased rent and premature termination of agreement. iii Lease
payments are recognized in the statement of profit & loss under "Lease
Rentals" in note no 25
iv Future minimum lease payments under non- cancellable operating lease
are Nil.
v There are no contingent rents.
9 Investments in Mutal Funds and Other Equity Shares are stated at
cost. No provision for diminution in value is made since these
investments are intended to be held for a longer period.
10 No depreciation has been provided on other office buildings as the
same has not been used during the year.
11 There were no contingent liablities. Necessary provisions have been
made in the books of accounts for the year 2012-13 in respect of all
known liabilities. There were no contingents assets arise from the
unplanned or other unexpected events that give rise to possibility of
an inflow of economic benefits.
12 Previous year''s figures have been regrouped / reclassified wherever
necessary to conform to current year''s classification,
Mar 31, 2012
1. Share capital
(a) Rights, preferences, and restriction attached to shares.
The company has only one class of equity shares having par value of Rs.
10 per share. Each shareholder is eligible for one vote per share held.
The dividend proposed by the Board of Directors is subject to approval
of the shareholders in the ensuing Annual General Meeting expect, in
case of interim dividend. In the event of liquidation, the equity
shareholders are eligible to receive the remaining asset of the company
after distribution of all preferential amounts, in the proportion of
their shareholding.
2. Capital Commitments
Estimated amount of contracts remaining to be executed on capital
account and not provided for (Net of advances) Ã Nil (previous Year-Rs.
35,94,216)
3. Contingent liabilities not provided for
Particulars : Figures as at the Figures as at the
end of current end of previous
reporting period reporting period
Bank Guarantee Nil Nil
Total Nil Nil
4. Balances in Sundry debtors, Loans and advances, Current
liabilities are subject to confirmation by the parties.
5. Raw materials and components consumed (Excluding Traded Items)
Since numerous small items constitute the consumption of raw materials
and components, each less than 10% of the total value of consumption,
the quantitative details are not furnished.
6. Segment Reporting
The Company operates in only one primary segment of business. Secondary
segmental reporting is based on the geographical location of customers.
During the year company had major business within India and total sales
outside India are less than the prescribed limits required for separate
segmental reporting and hence the same is not made.
7. Related Party Disclosures
Related party discloser's as required under Accounting Standard 18
issued by the Institute of Chartered Accountants of India are given
below:
i. Name of Related Party
Name Relation
Mr. S M M Azeez Director
Mr. Mustafa Kamal Chairman and Managing Director
Mrs. Farah Kamal Relative of Director
Toyama Controls &
Systems Private Limited Associate Company
8. Leasing arrangements
Operating Leases :
i. The Company has taken various office premises under operating lease.
These are generally not non-cancelable and range between 11 months and
3 years and are renewable by mutual consent on mutually agreeable
terms. The Company has given refundable interest free security deposits
under certain agreements.
ii. Building is taken on operating lease with options of renewal
against increased rent and premature termination of agreement.
iii. Lease payments are recognized in the profit & Loss Account under
"Lease Rentals" in note no. 24
iv. Future minimum lease payments under non-cancellable operating
lease are Nil.
v. There are no contingent rents.
9. There are no delays in payment to Micro and Small Enterprises as
required to be disclosed under the Micro, Small and Medium Enterprises
Development Act, 2006.
The above information and that given in note no. 7 'Trade Payable'
regarding Micro and small Enterprises has been determined to the extern
such parties have been identified on the basis of information available
with the company. This has been relied upon by the auditors.
10. Investments in Mutual Funds and Other Equity Shares are stated at
cost. No provision for diminution in value is made since these
investments are intended to be held for a longer period.
11. Number of Nonresident shareholders 233(240)
12. No Depreciation is been provided on other office biddings as the
same has not been used during the year.
13. Figures in brackets relate to previous year.
14. Previous year's figures have been regrouped/reclassified wherever
necessary to conform to current year's classification.
Mar 31, 2011
1. Contingent Liabilities:
a)Estimated amount of contracts remaining to be executed on Capital
account and not provided for Rs 35,94,216 (Nil) b) Contingent Liability
not provided for: Bank Guarantee Rs Nil (15.61 lakhs).
2. Balances in Sundry debtors, Loans and advances, Current liabilities
are subject to confirmation by the parties.
3. Related Party Disclosure:
A. Key Management Personnel & their relative
1) Mr. S M M Azeez - Director
Mr. Mustafa Kamal - Son
2) Mr. Mustafa Kamal - Chairman and Managing Director
Mrs. Farah Kamal 26.51 63.12- Wife
B. Other Companies and Firms
1) Toyama Controls & Systems Private Limited - Associate Company
4. Consumption of Raw Materials & Components (Excluding Traded Items)
b) Since numerous small items constitute the consumption of raw
materials and components, each less than 10% of the total value of
consumption, the quantitative details are not furnished.
5. Value of imports of Raw material on CIF basis Rs. 22,67,981
(Rs.16,00,490) Value of imports of Capital Goods on CIF basis Rs.
10,26,700 (Nil)
6. Number of Non-Resident shareholders 240 (253)
7. Earnings in Foreign Currency on accrual basis FOB value of Exports
Rs 3,44,641 (49,606).
8. Expenditure in foreign currency towards foreign travel Rs Nil
(Nil). Foreign exchange outgo on account of dividend - Rs 21,150/- (Rs.
Nil)
9. There are no delays in payment to Micro and Small Enterprises as
required to be disclosed under the Micro, Small and Medium Enterprises
Development Act, 2006.
The above information and that given in schedule I 'Sundry Creditors'
regarding Micro and small Enterprises as been determined to the extent
such parties have been identified on the basis of information available
with the company. This has been relied upon by the auditors.
10. Employee Benefits
As per Accounting Standard 15"Employee Benefit '', the disclosers of
Employee benefit as defined in Accounting Standard are given below:
11. Leasing Arrangements:
Operating Leases
i) The Company has taken various office premises under operating lease.
These are generally not non-cancelable and range between 11 months and
3years and are renewable by mutual consent on mutually agreeable terms.
The Company has given refundable interest free security deposits under
certain agreements.
ii) Lease payments are recognised in the Profit and Loss account under
" Rent" in schedule Q
iii) Future Minimum Lease Payments Expected to be paid under Non-
Cancelable lease Rs Nil.
There are no contingent rents
12. Figures in brackets relate to previous year.
13. Previous year's figures have been regrouped & readjusted wherever
necessary to confirm to current year's classification
Mar 31, 2010
1. Contingent Liabilities:
a) Estimated amount of contracts remaining to be executed on Capital
account and not provided for Nil (Nil)
b) Contingent Liability not provided for: Bank Guarantee Rs 15.61 lakhs
(15.53 lakhs).
2. Balances in Sundry debtors, Loans and advances, Current liabilities
are subject to confirmation by the parlies.
3. Related Party Disclosure:
A Key Management Personnel & their relative
1) Mr. S M M Azecz Director Mr. Mustafa Kamal Son
2) Mr. Mustafa Kamal Chairman and Managing Director Mis. Farah Kamal
Wife
B Other Companies and Firms
1) Toyama Controls & Systems Private Limited Associate Company
2) Tescon Elevators (P) Ltd. Associate Company
4. Expenditure in foreign currency towards foreign travel Rs Nil
(Nil). Foreign exchange outgo on account of dividend RsNil (Rs. 19125)
5. There arc no delays in payment to Micro and Small Enterprises as
required to be disclosed under the Micro, Small and Medium Enterprises
Development Act, 2006.
The above information and that given in schedule I Sundry Creditors
regarding Micro and small Enterprises as been determined to the extent
such parties have been identified on the basis of information available
with the company. This has been relied upon by the auditors.
6. Leasing Arrangements:
Operating Leases
i) The Company has taken various office premises under operating lease.
These arc generally not non-cancelable and range between I I months and
3years and arc renewable by mutual consent on mutually agreeable terms.
The Company has given refundable interest free security deposits under
certain agreements.
ii) Lease payments are recognised in the Profit and Loss account under
" Rent" in schedule Q
iii) Future Minimum Lease Payments Expected to be paid under Non-
Cancelable lease Rs Nil.
There are no contingent rents
7. Figures in brackets relate to previous year.
8. Previous years figures have been regrouped & readjusted wherever
necessary to confirm to current years classification
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