i. Contingent Liabilities not provided for -Rs. Nil (p.y Nil)
For the year For the year
ended 31.03.11 ended 31.03.10
ii. Auditors Remuneration
Statutory Audit Fees 33,090=00 33,090=00
Tax Audit Fee 11,030=00 11,030=00
iii. Eaming/(Loss) per share
in accordance with
Accounting Standard
20(AS-20) issued by the
Institute of Chartered
Accountants of India.
Profit/Loss after Tax 24,98,397.23 35,90,779=51
No. of Equity Shares
during the year 49,54,500 49,54,500
Earnings per Share
(basic/diluted) 0.50 0.72
(Face value of each share is Rs.10/-)
iv. Deferred Taxation: The company has unabsorbed depreciation and
carried forward losses available for set off under the Income Tax Act,
1961. However, in view of uncertainty regarding generation of
sufficient future taxable income, net deferred tax Assets have not been
recognised in accounts on prudential basis.
iii. Employees Benefits
Defined Contribution Plan
During the year ended 31st March, 2011 and 31st March, 2010, the
company contributed the following amounts to defined contribution plan:
A. Gratuity
The Company adopted the revised accounting standard on employees
benefits with effect from 1s! April, 2009. The following table set out
the status of the gratuity plan as required under AS 15 (Revised):-
The principal assumptions used in determining gratuity obligations for
the company''s plans are shown below:
Assumptions %
iv. The company is engaged in the manufacture of a single product i.e
Wire. Company''s business activities are confined only to India. Hence
there are no reportable segments.
v Related party Disclosures
Disclosures as required by the Accounting Standard 18 (AS-18) Related
party Disclosures are given below.
vi. The company has carried out an impairment test as per Accounting
Standard 28 issued by I.C.A.I, on all the assets and no provision was
found to be required towards impairment of assets for the year ending
31.03.11.
vii. The company does not have any non cancelable leases. Office
premises are taken on operating lease. Lease rent is accounted on
accrual basis
viii The company has not received any intimation from ''suppliers''
regarding their status under the micro, small and medium Enterprises
Development Act, 2006 and hence disclosures, if any relating to amounts
unpaid as at the year end together with interest paid/payable as
required under the said Act, have not been given.
ix. Balances under the head Debtors, Loans & Advances, Trade Creditors
and other liabilities are subject to confirmation from the respective
parties.
x. Advances from customers include Rs.50,28,123.92 due to M/s Bagaria
Enterprises Pvt. Ltd. .company under the same management.
xi. Amounts, due and outstanding to be credited to Investor Education
and Protection Fund as on 31st March, 2011 are Nil. (PY: NIL)
xii. Previous year figures have been regrouped /recasted wherever
deemed necessary to conform with current year''s classification.
xiii. Additional information pursuant to the provisions of paragraph 3 &
4 of Part Ml of Schedule VI to the Companies Act, 1956 - Quantitative
particulars: |