Deepak Fertilizers and Petrochemicals Coprn
BSE: 500645 | NSE: DEEPAKFERT | ISIN: INE501A01019 | Fertilisers
- Directors Report
- Chairman's Speech
- Auditors Report
- Notes To Accounts
- Accounting Policy
- Finished Products
- Raw Materials
| Notes to Accounts | Year End : Mar '09 |
1. CHANGES IN ACCOUNTING POLICIES The Accounting Standard -11 on Effects of Changes in Foreign Exchange rates has been amended vide Companies (Accounting Standards) Amendment Rules, 2009 giving an option to the Company to capitalise the effect of foreign currency translation ./ variance pertaining to borrowings related to acquisition of Fixed Assets. The Company has exercised the option and accordingly adjusted exchange loss in the cost of Fixed Assets during the year. This hitherto was debited to Profit and Loss Account. Also, exchange gain pertaining to previous financial year has been adjusted in the cost of Fixed Assets and debited to General Reserve. Correspondingly, profit for the year is higher by Rs. 1,952.28 Lacs. Fixed Assets/Capital Work-in-Progress and Reserves are also higher by an amount of Rs. 1,333.04 Lacs after adjusting a gain of Rs. 619.24 Lacs of the preceding financial year. 2. Estimated amount of contracts remaining to be executed on capital account and not provided for Rs. 20,743.15 Lacs (Previous Year: Rs. 13,607.23 Lacs). 3. Gas Authority of India Limited (GAIL), supplier to the Company of natural gas, one of the main raw materials, has effected the supplies at provisional rate as indicated in the invoices. However, according to the Company any revision in natural gas price will be only prospective as per the existing convention/practice followed by Government of India. 4. Exceptional items represent: - Amortisation of VRS Compensation paid Rs. 65.95 Lacs (Previous Year: Rs. 65.95 Lacs). - Expenditure on brand launching Rs. 265.16 Lacs (Previous Year: Rs. 210.07 Lacs). 5. In respect of long term investment in listed securities, the diminution in value is estimated on the basis of appraisal made by Portfolio Managers. 6. IMPAIRMENT OF ASSETS : The Company has examined carrying cost of its identified Cash Generating Units (CGU) by comparing present value of estimated future cash flows from such CGUs, in terms of Accounting Standard-28 on Impairment of Assets, according to which no provision for impairment is required as assets of none of CGUs are impaired during the financial year ended 31st March, 2009. 7. (i) Sundry Debtors include dues from companies in which some of the Directors are Directors/Members : Rs. 223.28 Lacs (Previous Year: Rs. 194.27 Lacs) maximum amount due during the year: Rs. 1,326.75 Lacs (Previous Year: Rs. 661.16 Lacs). (ii) Loans and Advances include : - Security deposit of Rs. 200 Lacs (Previous Year : Rs. 200 Lacs) placed with Vice-Chairman & Managing Director towards lease of residential premises. - Due from officers Rs. 8.54 Lacs (Previous Year : Rs. 12.66 Lacs) Maximum amount due during the year Rs. 12.66 Lacs (Previous Year: Rs. 16.48 Lacs). 8. To comply with the requirement of The Micro, Small And Medium Enterprises Development Act, 2006, the Company requested its suppliers to confirm it whether they are covered as Micro, Small or Medium enterprise as defined in the said Act. Based on the communications received from such suppliers confirming their coverage as such enterprise, the Company has recognised them for the necessary treatment as provided under the Act, from the date of receipt of such confirmations and there is no default in payment to such enterprise as specified in the said Act. However, the amount outstanding as well as interest applicable are insignificant and hence not separately disclosed. 9. Segment Reporting - Refer Annexure - A. 10. Related Party Disclosure - Refer Annexure - B. 11. Statutory dues not deposited on account of dispute - Refer Annexure - C. 12. Previous years figures have been re-grouped wherever necessary to conform to current years grouping. |
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| Source : Religare Technova | |
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