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Diamond Power Infrastructure
BSE: 522163|NSE: DIAPOWER|ISIN: INE989C01012|SECTOR: Cables - Power/Others
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Notes to Accounts Year End : Mar '13
1.  Contingent Liabilities
 
 a) Letter of Credit opened Rs.3879.16 Million Previous Year Rs
 2001Million; materials under all letters of credit have been received
 and accounted for as Creditors.
 
 (b) Outstanding Bank Guarantees as of March 31, 2013 is Rs. 1775
 Million (Previous Year Rs.1226.37 Million).
 
 (c) Income tax demands being in appeal not provided for Rs. Nil
 (previous year Rs Nil).
 
 (d) There are no outstanding Claims against the Company.
 
 (e) Corporate guarantees issued to wholly owned subsidiary  Diamond
 Power Transformers Ltd. In favour of Indian Overseas Bank
 
 2.  The company has been sanctioned the fund based and non-fund based
 working capital facilities of Rs. 1650 Millions from the Axis Bank
 Ltd.; Rs. 3500 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 Millions from Dena Bank, Rs.
 552 Millions from Indian Overseas Bank & Rs. 500 Mn from State Bank of
 Mysore 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
 received.
 
 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 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 Subsidiary Diamond Power Global Holding Ltd.  Dubai
 
 3.  100% in its Subsidiary Diamond Power Transmission Pvt Ltd .
 
 8.  Related Party Disclosures:
 
 a) Particulars of Associates of the Company:
 
 Name of the Related Party Nature of Relationship
 
 Diamond Infosystems Ltd.  Associate Company of DPIL
 
 Diamond Projects Ltd.  Associate Company of DPIL
 
 b) Subsidiary Company:
 
 Name of the Subsidiary Diamond Power Transformers Ltd Diamond Power
 Global Holding Ltd Diamond Power Transmission Pvt Ltd
 
 c) Key Management Personnel and their Relatives:
 
 Key Management Personnel and their Relatives Nature of Relationship
 
 Mr. S.N.Bhatnagar Chairman
 
 Mr. Amit Bhatnagar Managing Director
 
 Mr. Sumit Bhatnagar Jt. Managing Director
 
 d) Relatives of Key Management Personnel:
 
 Key Management Relatives Smt Madhurilata Bhatnagar
 
 Smt Mona Bhatnagar
 
 Smt Richa Bhatnagar
 
 e) Enterprise under Significant influence of Key Management Personnel:
 Not applicable
 
 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
 March 31, 2011 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
 
 11.  Sales include an amount of Rs Nil Million (Net of Duty) of inter-
 unit Transfer (Previous year Rs 761.92 Million).
 
 9 Aggregate directors'' remuneration is Rs. 17.12 Million (previous
 year Rs. 36.85 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.
 
 10 Aggregate Auditor''s remuneration is fixed at Rs. 1.62 Million
 (previous year Rs. 2.43 Million. Which includes Rs 1.62 Million as
 Audit Fees (Previous year Rs. 2.43 Millions).
 
 11 As per Accounting Policy (10) on excise duty, the excise duty
 payable on finished goods in stocks at works amounting to Rs 104.43
 Million (previous year Rs 75.87 Million) has been included in the
 expenditure and in such stocks. However, the same has no impact on the
 profit for the year.
 
 12.  There are no amounts due and outstanding to be credited to
 investor Education and Protection Fund.
 
 13.  Details of Licensed, Installed Capacities and Production
 
 Previous year figures are regrouped /reclassified where ever necessary
 to make them comparable with the current year.
Source : Dion Global Solutions Limited
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