1.1 For the period of 5 years immediately preceding the date as at
which the balance Sheet is prepared NA
a) Aggregate Number and Class of Shares allocated as fully paid up
pursuant to contract(s) without payment have being received In cash
b) Aggregate Number and Class of Shares allocated as fully paid up by
way of bonus Shares
c) Aggregate Number and Class of Shares bought Back
1.2 The Company has only one class of equity shares having a par value
of Rs 10 per share. Each holder of equity shares is entitled to one
vote per share. The Company declares and pays dividends in Indian
rupees. The dividend proposed by the Board of Directors is subject to
approval of the shareholders in the ensuing Annual General Meeting.
Term Loans from Banks
a) Rs 12500 Lacs (Previous year Rs 15000 Lacs) Secured 1st Pari Passu
Charge on the entire Fixed Assets of the company both present and
Future. The Term Loan is repayable in remaining 22 equal Quaterly
Installments by 30th Sep 2016 and present intrest rate is 12.90% p.a
(b) Rs 2739.41 Lacs (Previous year Nil) Secured 1st Pari Passu Charge
on the entire Fixed Assets of the company both Present and Future. The
Term Loan is Repayable in 26 equally quaterlly installments commencing
from 30th Sep 2014 and carries Intrest rate of 12.75% pa
(c) Rs 2909.08 Lacs (Previous year Rs. 4000 lacs) secured by 1st pari
passu charge on all fixed assets of the company both present & future
with in 60 days from the first disbursement. 2nd pari passu charge on
all current assets of the company, both present & future within 60 days
from the 1st disbursement,The term loan is repayble in 11 equated
quarterly installments after moratorium period carries interest rate
(d) Rs. 10000 lacs (Previous Year 6800 Lacs) (Non Convertible
Debentures)secured by 1st pari passu charge on all fixed assets of the
company both present & future with in 60 days from the first
disbursement. 2nd pari passu charge on all current assets of the
company, both present & future within 60 days from the 1st
disbursement, repayment starting from 1st June 2014, carries interest
(e) Rs 121.62 Lacs (Previous Year 48.41) Loans taken for the Vehicles
the present rate of interest charged is at 10.83%PA the duration of
loan are for period of 36 Months from the Date of Disbursment
1. Rs 2850 Lacs (Previous Year 3000 Lacs) are unsecured carrying
interest rate of 12.90% and repayable within 90 days from the first
2 Rs 2200 Lacs (Previous Year Nil) are towards contribution from the
Promoters'' group for the ongoing expansion project.
Note to Standalone
Loans repayable on Demand
Rs 36234.07 Lacs (Previous Year 15477.11 Lacs) these entire loan are
secured by the first Parri Passu Charge on Entire Current Assets of the
company and second pari Passu Charge on the Fixed Assets of the company
and rate of Interest charged on the entire loan is @ 13.50 to 14%
1. Contingent Liabilities
(a) Letter of Credit opened Rs.2001 Million Previous Year Rs 1145.25
Million; materials under all letters of credit have been received and
accounted for as Creditors.
(b) Outstanding Bank Guarantees as of March 31, 2012 is Rs.1226.37
Million (Previous Year Rs. 948.73 Million
(c) There are no outstanding income tax demands under appeals.
(d) There are no outstanding Claims against the Company.
(e) Corporate guarantees issued on behalf of wholly owned subsidiary -
Diamond Power Transformers Ltd. in favour of SICOM Limited and Indian
2. The company has been sanctioned the fund based and non-fund based
working capital facilities of Rs. 1650 Million from the Axis Bank Ltd.;
Rs. 2314 Million from the Bank of India; Rs. 1980 Million from the
ICICI Bank Ltd.,: Rs. 2200 Million from the Bank of Baroda, Rs 1620
Million from Allahabad Bank & Rs 660 Million from Dena Bank and Rs 552
Million from Indian Overseas Bank against the security of first pari
passu charge on the entire current assets of the company by way of
Hypothecation agreement and the second pari passu charge on the entire
fixed assets of the company.
3. Balance confirmation letters were sent out to various debtors and
creditors. The confirmation of most of the Debtors and creditors is
4. The method of valuation of inventories adopted by the company is in
accordance with the requirements of Accounting Standard 2 (Valuation of
Inventories and as revised from time to time) issued by the Institute
of Chartered Accountants of India.
5. In the opinion of the Management all the current assets, loans and
advances and deposits are realizable at value stated in the ordinary
course of the business which are at least equal to the amount at which
they are stated in the books unless otherwise explicit.
6. Segmental Reporting:
The company is primarily engaged in the manufacture of conductors,
cables, towers, transformers and selling out- sourced products and EPC
Contracts. As the company''s manufacturing facilities are inter woven/
inter- mix due to the nature of its business with the EPC business, it
is not possible to directly and specifically attribute or allocate on a
reasonable basis, the expenses, assets & liabilities in different
Segments. The segmental Sales product wise are as follows:
7. Share Holding in Various Companies:
The Company holds the following shares
1. 99.60% in its Subsidiary Diamond Power Transformers Ltd
2. 100% in its wholly owned Subsidiary Diamond Power Global Holdings
Note: The above information has been determined to the extent such
parties have been identified on the basis of information provided by
the Company and approved by the Board of Directors of the Company,
which has been relied upon by the Auditors. Enterprise under the same
management include Wholly Owned Subsidiary Diamond Power Transformers
8. Dues to micro, small and medium enterprises
The Ministry of Micro, Small and Medium Enterprises has issued an
office memorandum dated August 26, 2008 which recommends that the Micro
and Small Enterprises should mention in their correspondence with its
customers the Entrepreneurs Memorandum Number as allocated.
After filing of the Memorandum in accordance with the ''Micro, Small
and Medium Enterprises Development Act, 2006'' (''the Act'').
Accordingly, the disclosure in respect of the amounts payable to such
enterprises as at 31st March, 2012 has been made in the financial
statements based on information received and available with the
Company. Detail of the Small Scale Industries (SSI) units which have
supplied the materials to the company and to whom the company owes a
sum exceeding RS 1.00 Lacs and which is outstanding for more than 30
days is Nil.
Note: The above Information regarding Small Scale Industrial
undertaking has been determined to the extent such parties has been
identified on the basis of information available with the company. The
same has been relied upon by the Auditors. To confirm names/figures
9. Sales include an amount of Rs 761.92 Million (Net of Duty) of
inter- unit Transfer (Previous year Rs 1121.25 Million).
10. Aggregate directors'' remuneration is Rs. 36.85 Million (previous
year Rs. 22.48 Million. The remuneration of directors is as per the
approval accorded by remuneration Committee, shareholders and Central
Government as per the provisions of Section 311 read with Schedule XIII
of the Companies Act, 1956.
11. Aggregate Auditor''s remuneration is fixed at Rs. 2.32 Million
(previous year Rs 1.04 Million. Which includes Rs 1.02 Million as
Audit Fees (Previous year Rs 1.02 Million).
12. As per Accounting Policy (10) on excise duty, the excise duty
payable on finished goods in stocks at works amounting to Rs 75.87
Million (previous year Rs 18.61 Million) has been included in the
expenditure and in such stocks. However, the same has no impact on the
profit for the year.
13. There are no amounts due and outstanding to be credited to
Investor Education and Protection Fund.
Consumption of Assorted Wire / Wire rods is not provided, as they are
totally consumed in-house for manufacture of conductors. Installed
capacity and capacity utilization are as certified by the management
and not verified by the auditors being a technical matter. The quantity
in Kms. cannot comparable as the weight per Kms of each conductor
varies on the cross section area and current carrying capacity. Hence,
the production has been shown in Kms. The Quantity are usually taken as
per relevant IS standards.
Previous year figures are regrouped /reclassified where ever necessary
to make them comparable with the current year.