SENSEX NIFTY
Moneycontrol.com India | Notes to Account > Infrastructure - General > Notes to Account from BGR Energy Systems - BSE: 532930, NSE: BGRENERGY
YOU ARE HERE > MONEYCONTROL > MARKETS > INFRASTRUCTURE - GENERAL > NOTES TO ACCOUNTS - BGR Energy Systems
BGR Energy Systems
BSE: 532930|NSE: BGRENERGY|ISIN: INE661I01014|SECTOR: Infrastructure - General
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
Aug 22, 16:20
157.40
4 (2.61%)
VOLUME 96,459
LIVE
NSE
Aug 22, 16:20
157.30
4 (2.61%)
VOLUME 400,302
« Mar 12
Notes to Accounts Year End : Mar '13
A.  COMPANY OVERVIEW
 
 BGR Energy Systems Limited is a public limited company incorporated
 under the provisions of the Companies Act, 1956. Its equity shares are
 listed on Bombay Stock Exchange (BSE) and National Stock Exchange
 (NSE).The company is a manufacturer of capital equipments for Power
 Plants, Petrochemical Industries, Refineries, Process Industries and
 undertakes turnkey Balance of Plant (BOP) and Erection Procurement and
 Construction (EPC) contracts for Power plants. The Company has been
 achieving its objectives through its five business units: Power
 projects, Electrical projects, Oil and Gas equipment, Environmental
 engineering and Air Fin Coolers.
 
 1.  EMPLOYEE STOCK OPTION PLANS
 
 Stock option granted to the employees under the stock option scheme
 established are evaluated as per the accounting treatment prescribed by
 the SEBI (Employee Stock Option Scheme and Employee stock purchase
 scheme) Guidelines, 1999. The company follows the intrinsic value
 method of accounting for the options and accordingly, the excess of
 value of the stock options as determined by an independent valuer on
 the date of grant over the exercise price of the options, if any, is
 recognized as deferred employee compensation cost and is charged to the
 Statement of Profit and Loss.
 
 Employee Stock Option Scheme - 2007
 
 Pursuant to the decision of the shareholders, at their meeting held on
 July 11, 2007, the company has established an ''Employee Stock Option
 Plan 2007'' (''ESOS 2007'' or ''the Scheme'') to be administered by the
 Compensation Committee of the Board of Directors.  ESOS 2007 provides
 for grant of options amounting to not more than 1.5% of the issued and
 paid up equity capital of the company outstanding at any point of time
 to officers, directors and key employees to purchase equity shares of
 face value of Rs. 10 each, with such option conferring a right upon the
 employee to apply for one equity shares of the company, in accordance
 with the terms and conditions of such issue. The exercise price of the
 option is Rs. 408.
 
 2.  LEASES
 
 Operating Lease
 
 The company has taken various residential / commercial premises and
 land under cancellable and non-cancellable operating leases.  These
 lease agreements are normally renewed on expiry.
 
 3.  SEGMENT REPORTING
 
 Primary segment information (Business segments)
 
 Information about Business Segments (information provided in respect of
 revenue items for the year ended March 31, 2013 and in respect of
 assets / liabilities as at March 31, 2013) are furnished below:
 
 4.  PARTICULARS OF RELATED PARTIES 
 
 List of Related Parties
 
 a.  Subsidiary Companies
 
 i.  Progen Systems and Technologies Limited
 
 ii.  BGR Boilers Private Limited
 
 iii. BGR Turbines Company Private Limited
 
 iv.  Sravanaa Properties Limited
 
 b.  Associate Company - Nil
 
 c.  Other companies (Enterprises where significant influence exists and
 enterprises where key management personnel have significant influence)
 
 i.  GEA Cooling Tower Technologies (India) Private Limited
 
 ii.  GEA BGR Energy System India Limited
 
 iii. Germanischer Lloyd Industrial Services (India) Private Limited
 
 iv.  Mega Funds India Limited
 
 v.  Sasikala Estate Private Limited
 
 vi.  Schmitz India Private Limited
 
 vii. Cuddalore Powergen Corporation Limited
 
 viii.  ANI Constructions Private Limited
 
 ix.  Nannilam Property Private Limited
 
 x.  Pragathi Computers Private Limited
 
 xi.  BGR Odisha Powergen Limited
 
 d.  Joint Ventures
 
 Mecon - GEA Energy System (India) Limited (JV)
 
 e.  Key management personnel :
 
 i.  Mr. B.G.Raghupathy Chairman & Managing Director
 
 ii.  Mr. T.Sankaralingam Managing Director (relinquished office on
 31.12.2012)
 
 iii. Mr. V.R. Mahadevan Director - Technologies & HR
 
 iv.  Mr. A.Swaminathan Director - Sales & Marketing
 
 v.  Mr. K. Chandrashekhar Director - Projects (appointed on 01.11.2012)
 
 vi.  Ms. Swarnamugi Karthik Director - Corporate Strategy (appointed on
 08.02.2013)
 
 f.  Relatives of Key Management Personnel
 
 i.  Ms. Swarnamugi Karthik (Daughter of Mr. B.G. Raghupathy and Mrs.
 Sasikala Raghupathy) (appointed as Director - Corporate Strategy on
 08.02.2013)
 
 ii.  Ms. Priyadarshini Raghupathy (Daughter of Mr.B.G.Raghupathy and
 Mrs. Sasikala Raghupathy)
 
 iii. Ms. Vaani Raghupathy (Daughter of Mr.B.G.Raghupathy and Mrs.
 Sasikala Raghupathy)
 
 iv.  Mr. Arjun Govind Raghupathy (Son of Mr.B.G.Raghupathy and Mrs.
 Sasikala Raghupathy)
 
 5.  IMPAIRMENT OF ASSETS
 
 a.  Cash Generating Units :
 
 There is no impairment loss of cash generating assets and hence no
 provision was made in the financial statements.
 
 b.  Other Assets :
 
 The company has made a provision of Rs. 81 Lakhs (Rs. 34 Lakhs) in the
 books of accounts towards impairment of other fixed assets based on the
 technical valuation.
 
 6.  In respect to construction contracts, cost of material includes
 value added tax, central sales tax, works contract tax and service tax.
 
 7.  Interest income from fixed deposits have been netted off with
 interest expense on working capital facilities.
 
 8.  PROVISIONS
 
 a) The company has made a provision / transfer of Rs. 1776 Lakhs (Rs.
 3451 Lakhs) towards Warranty and Contractual obligations on the
 products supplied / contracts executed by the company during the year.
 
 b) Current tax includes Rs. 160 Lakhs ( Nil ) being provision for
 income tax in respect of earlier years.
 
 9. PREVIOUS YEAR FIGURES
 
 Figures of previous year have been regrouped / rearranged, wherever
 required to confirm to the current year presentation.
Source : Dion Global Solutions Limited
Quick Links for bgrenergysystems
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.