SENSEX NIFTY India | Notes to Account > Chemicals > Notes to Account from Elantas Beck India - BSE: 500123, NSE: DRBECK
Elantas Beck India
BSE: 500123|NSE: DRBECK|ISIN: INE280B01018|SECTOR: Chemicals
Apr 17, 17:00
-31 (-2.46%)
VOLUME 1,890
Elantas Beck India is not traded in the last 30 days
« Dec 12
Notes to Accounts Year End : Dec '13
1.  Contingent liabilities not provided for (Currency : Rs. in lacs)
                                               2013         2012
 a) Claims against the Company not 
 acknowledged as debts                         185.74       185.74
 b) Excise duty matters                        226.96       127.15
 c) Income tax matters                          23.93        23.93
 d) Sales tax matters                          334.23       304.40
 e) Guarantee in favour of Gujarat Industrial 
 Development Corporation                        12.24        12.24
 d) Notes :
 1) The plan assets comprises entirely of Insurer Managed Funds.
 2) The expected return on plan assets is based on market expectations,
 at the beginning of the year, for returns over the entire life of
 related obligations.
 3) The estimates of future salary increases considered takes into
 account the inflation, seniority, promotion and other relevant factors
 on a long term basis.
 4) Changes enacted before the Balance Sheet date are considered while
 determining the obligation.
 5) Expected Employer''s contribution in next year ` 18.00 (Previous year
 ` 30.00) .
 6) Salary escalation rate is 12 % for first 2 years and 10.50%
 2.  Segment reporting
 The Company has disclosed business segments as the primary segment.
 Segments have been identified by the Management taking into account the
 nature of products, manufacturing process, customer profiles, risk and
 reward parameters and other relevant factors.
 The Company''s operations have been classified into two primary
 segments, Electrical Insulations and Engineering and Electronic
 Resins and Materials. Segment assets include all operating assets used
 by the business segment and consist primarily of fixed assets, debtors
 and inventories. Segment liabilities primarily include creditors and
 other liabilities. Assets and liabilities that cannot be allocated
 between the segments are shown as a part of unallowable assets and
 Secondary segments have been identified with reference to geographical
 location of the customers. The Company has identified India and outside
 India as the two geographical segments for secondary segmental
 reporting. Geographical sales are segregated based on the location of
 the customer who is invoiced. Assets other than receivables used in the
 Company''s business or liabilities contracted have not been identified
 to any of the reportable geographical segments, as these are used
 interchangeably between geographical segments. All assets other than
 receivables are located in India.  Similarly, capital expenditure is
 incurred towards fixed assets in India.
 3. Management believes that the Company''s international transactions
 with related parties post 31 March 2013 (last period upto which an
 Accountants'' report has been submitted as required under the Income tax
 Act, 1961) continue to be at arm''s length and that the transfer pricing
 legislation will not have any impact on these financial statements,
 particularly on the amount of tax expense and that of provision for
Source : Dion Global Solutions Limited
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