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14.6 (5.98%)
14.65 (6%) | Notes to Accounts | Year End : Mar '12 |
1. Corporate Information
Amara Raja Batteries Limited (ARBL or the Company), part of the
Amara Raja Group of Companies, is the second largest manufacturer of
lead-acid storage batteries for industrial and automotive applications
in India. The equity shares of the Company are listed in both Bombay
Stock Exchange and National Stock Exchange. The Company''s products are
supplied to various user segments like Telecom, Railways, Power
Control, UPS and Exports under Industrial Battery business; and to
Automobile OEMs, Replacement Market, Private Label Customers and
Exports under Automotive Battery business. The Company also provides
installation & commissioning and maintenance services to its customers.
The leading automotive and industrial battery brands of the Company are
Amaron®, PowerZone™, Power Stack®, AmaronVolt™ and Quanta™.
a) Rights, preferences and restrictions attached to equity shares
The Company has only one class of equity shares having a par value of Rs
2/- each. Each holder of equity share is eligible for one vote per
share held. The dividend proposed by the Board of Directors is subject
to the approval of the shareholders in the Annual General Meeting,
except in case of interim dividend. In the event of liquidation, the
holder of equity share will be entitled to receive the remaining assets
of the Company after distribution of all preferential amounts, in
proportion to their shareholding.
b) Aggregate number of bonus shares issued during the period of five
years immediately preceding the reporting date
During the financial year 2008-09 the Company has allotted 28,468,750
equity shares as fully paid-up bonus shares by capitalising part of
general reserve.
a) Interest free sales tax deferment
The Company has availed interest free sales tax deferment under Andhra
Pradesh sales tax deferment scheme (Target 2000) from the financial
year 1997-98 as per the eligibility norms in respect of expanded
capacities. The Company has availed total deferment of Rs 811.40 Million
since March,1998, which is repayable after a period of 14 years from
the date of first availment.
- Eligible amount of interest free sales tax deferment - Rs 813.33
Million
a) Note forming part of accounts in relation to Micro, Small and Medium
Enterprises
Based on, and to the extent of information received from the suppliers
with regard to their status under Micro, Small and Medium Enterprises
Development Act, 2006 (MSMED Act), on which the auditors have relied,
the disclosure requirements of Schedule VI to the Companies Act, 1956
with regard to the payments made/due to Micro, Small and Medium
Enterprises are given below
Note: 2. LOANS AND ADVANCES (UNSECURED AND CONSIDERED GOOD) (Contd...)
APSPDCL''S original demand. The Company has paid Rs 17.26 Million
(Previous year Rs 13.57 Million) under protest. The Company has not
provided the balance of Rs1.26 Million in the books and has preferred an
appeal against the order of Vidyut Ombudsman.
Note: 3. CONTINGENT LIABILITIES AND COMMITMENTS
Rs Million
As at As at
Particulars March 31, 2012 March 31, 2011
A. Contingent liabilities
a) Claims against the
Company not acknowledged
as debts
i) Excise duty/service tax 16.10 18.62
ii) Sales tax 30.06 88.21
iii) Income tax 48.93 -
iv) Electricity 248.89 205.44
v) Dues to supplier - 0.75
[Against all the above
Rs9.48 Million (Rs5.64 Million)
was paid under protest]
b)Other contingent liabilities
i) Bills discounted
with scheduled banks - 69.13
B. Commitments
a) Estimated amount of
contracts remaining
to be executed
on capital account and
not provided for 142.31 236.94
Note: 4.
The balances in various personal accounts are subject to confirmation
by and reconciliation with the concerned parties.
Note: 5.
In the opinion of Board of Directors the assets other than fixed assets
and non-current investments are expected to realise the value stated in
the financial statements in the ordinary course of business.
Note: 6.
Current year political donation of Rs 1 Million represent payment to the
Communist Party of India (CPI), Chittoor District Council.
Note: 7.
From the financial year 2011 -12, the revised Schedule VI notified
under the Companies Act, 1956 is applicable to the Company for
preparation and presentation of financial statements. The adoption of
revised Schedule VI does not impact recognition and measurement
principles followed for preparation of financial statements. Flowever,
it has significant impact on presentation and disclosures made in the
financial statements. The Company has also reclassified and rearranged
the previous year figures in accordance with the requirements of
revised Schedule VI.
Note: 8.
Figures in Rupees have been rounded off to the nearest Million. |
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| Source : Dion Global Solutions Limited | |
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