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Moneycontrol.com India | Notes to Account > Steel - Medium / Small > Notes to Account from Balaji Galvanising Industries Ltd - BSE: 530205, NSE: N.A
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Balaji Galvanising Industries Ltd
BSE: 530205|ISIN: INE892G01019|SECTOR: Steel - Medium / Small
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Balaji Galvanising Industries Ltd is not traded in the last 30 days
Balaji Galvanising Industries Ltd is not listed on NSE
« Mar 10
Notes to Accounts Year End : Mar '11
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:
Source : Dion Global Solutions Limited
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