SENSEX NIFTY India | Notes to Account > Diamond Cutting & Jewellery & Precious Metals > Notes to Account from Asian Star - BSE: 531847, NSE: N.A
Asian Star
BSE: 531847|ISIN: INE194D01017|SECTOR: Diamond Cutting & Jewellery & Precious Metals
Sep 04, 16:01
-1.25 (-0.17%)
Asian Star is not listed on NSE
« Mar 13
Notes to Accounts Year End : Mar '14
1. Surplus / (Deficit) on account of exchange difference on
 outstanding forward exchange contracts to be recognized in profit and
 loss statement of subsequent accounting period aggregate to Rs. 10.22
 crores (For F. Y. 2012-13 it was Rs 4.83 crores).
 2. Derivatives Instrument:
 a) Derivative contracts entered into by the Company and outstanding as
 on 31st March, 2014.  i) For hedging currency related risk:
 Forward / option contracts (net) for Sales entered into by the company
 and outstanding as on 31st March, 2014 amount to Rs. 1,610.21 crores
 (for F. Y. 2012-13 forward / option contracts (net) for purchase was
 Rs. 1,154.41 crores)
 ii) For Hedging commodity related risk:
 Forward contracts for Gold and Silver entered into by the company and
 outstanding as on 31st March, 2014 covers 5 Kgs and 270 Kgs
 respectively. (For F. Y. 2012-13 it was 82 Kgs and Nil kgs
 b) Foreign currency exposure that is not hedged by the derivative
 instruments as on 31st March, 2014, amount to Rs. 296.07 crores. (For
 F. Y. 2012-13 it was Rs. NIL).
 3.  The details of amounts outstanding to Micro, Small and Medium
 Enterprises under the Micro, Small and Medium Enterprises Development
 Act, 2006 (MSMED Act), based on the information available with the
 Company are as under:
 4. The Company has given guarantee of Rs. 150.43 crores (previous year
 Rs. 138.38 crores) to Banks for facilities availed by its subsidiary
 companies. The company has disputed income tax liability of Rs. 0.54
 crores (previous year 36.39 crores) and disputed service tax liability
 of Rs.4.46 crores (previous year 4.46 crores).
 5.  Related Party Disclosure for the year ended 31st March, 2014 (i)
 List of Related Parties and Relationships:
 (A) Particulars of Enterprises controlled by the Company
 Name of Related Party Relationship
 Asian Star Co.  Ltd.  (U.S.A.)  Subsidiary
 Asian Star DMCC                 Subsidiary
 Asian Star Jewels Pvt.  Ltd.    Subsidiary
 Asian Star Trading (Hong Kong) Ltd Subsidiary
 (B) Particulars of Key Management Personnel
 Name of Related Party           Relationship
 Dinesh T.  Shah                 Chairman & CFO
 Vipul P.  Shah                  CEO & Managing Director
 Dharmesh D.  Shah               Director
 Arvind T.  Shah                 Executive Director
 Priyanshu A.  Shah              Executive Director
 Rahil V.  Shah                  Executive Director
 (C) Particulars of Enterprises Under Common control of the Key
 Management Personnel
 Jewel Art
 Asian Star Diamonds International Pvt.  Ltd.
 Shah Manufacturers
 Rahil Agencies
 A''Star Exports
 Shah Enterprises
 (D) Particulars of Relatives of Key Management Personnel where there
 are transactions
 Sujata V.  Shah
 b) Defined Benefit Plan:
 Defined benefits plan as per actuarial valuation as on 31st March, 2014
 and recognized in the financial statement in respect of Employee
 Benefits Scheme:
 The Company now recognizes two reportable business segments viz.
 diamonds and jewellery.  The business which is not reportable during
 the year, has been grouped under ''Others'' Segment, this comprises wind
 energy generation.
 Segment Reporting and Related Information requires that an enterprise
 report a meas for each reportable segment. 
 The fixed assets and inventories used in the company''s business are 
 not identifiable to any particular reportable segment and can be used interchangeably among geographical
segments. Consequently,
 management believes that it is not practical to provide segment
 disclosures relating to total assets since a realistic analysis among
 the various geographic segments is not possible. Therefore, information
 has been restricted to direct debtors of each geographical segment.
Source : Dion Global Solutions Limited
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