1. Out of the Funds raised through IPO Rs. 5980 lac, Rs. 5976 lac (see
annexure) have been utilized till 31st March, 2011 and balance amount
is lying unutilised & will be utilised as per amendments made to
Proposed Deployment of Funds by the shareholders of the Company in
its Annual General Meeting held on 1st August, 2008. The Shareholders
of the Company has authorised the Board of Directors to utilise
remaining IPO proceeds in the best interest of the Company.
2. The Board of Director''s has recommended a final dividend of Rs.1/-
(50%) per Equity Share, subject to approval of the Share Holders. The
Board has already declared an interim dividend of Rs.1/- (50%) per
Equity Share thus, the total Dividend for the year 2010-11 would be
Rs.2/- (100%) per Equity Share.
3. Miscellaneous Expense to the extent not written off, includes Life
Time Club Membership, to be amortized over a period of ten years,
commencing from 2007-08, in accordance with Accounting Standard 26
issued by The Institute of Chartered Accountants of India.
4. In absence of any information requested from the vendors with
regards to their registration (filing of Memorandum) under The Micro,
Small and Medium Enterprises Development Act, 2006 (27 of 2006),
liability can not be ascertained at the close of the year and hence no
disclosures have been made in this regards.
5. Contingent Liabilities, not provided for:
(Rs. in lacs)
Particulars 2010-11 2009-10
Bank Guarantees including
Corporate Guarantees 385.02 571.53
Letter of Credits 3,073.97 1,382.49
Claim against the Company,
not acknowledge as Debts 327.90 185.38
Sales Tax, Excise & Income
Tax Matters, pending before 1,095.93 107.52
Assessing / Appellate Authorities
Total 4,882.82 2,246.92
6. All Credit Facilities from Banks are secured by way of
hypothecation of the Company''s entire stocks of raw materials,
semi-finished and finished goods, consumable stores and spares and such
other movable including book-debts, bills whether documentary or clean,
outstanding monies, receivables, both present & future and Plant &
Machinery on pari passu basis and First charge by way of equitable
mortgage of property situated at Jajru Road. 25th Mile Stone, Delhi
Mathura Road, Ballabhgarh, Haryana on pari passu basis.
7. Balance of some of Sundry Debtors, Sundry Creditors and Loans &
Advances are subject to confirmation and reconciliation by the parties
and adjustment, if any, required on reconciliation, will be done in the
year in which the same is reconciled. Further, Management does not
expect any material difference in the Financial Statements for the
8. The Cash Flow Statement has been prepared under the Indirect
Method set out in Accounting Standard (AS-3) issued by The Institute
of Chartered Accountants of India.
9. Previous years figures have been regrouped to make them comparable
with current year figures wherever necessary.
10. Schedules 1 to 16 form integral part of the accounts and are duly