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Elantas Beck India

BSE: 500123|NSE: DRBECK|ISIN: INE280B01018|SECTOR: Chemicals
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Elantas Beck India is not traded in the last 30 days
« Dec 14
Notes to Accounts Year End : Dec '15
a) 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
 nextyearRs,23.25(PreviousyearRs,6.50).
 
 6) Salary escalation rate is 10.50%.
 
 1. 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 unallocable assets and
 liabilities.
 
 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.  Similiarly, capital expenditure is
 incurred towards fixed assets in India.
 
 2.  Related party disclosures
 
 2.1 A.  Listof related parties and relationship
 
 Where control exists
 
 SKion GmbH Holding company of Altana AG
 
 ALTANAAG Holding company of Altana Chemie GmbH
 
 ALTANA Chemie GmbH Holding company of ELANTAS GmbH
 
 ELANTASGmbH Holding company (75.00%)
 
 Others
 
 BYK-ChemieGmbH Fellow Subsidiary
 
 ELANTAS PDG Inc.  Fellow Subsidiary
 
 ELANTAS Italia Sit Fellow Subsidiary
 
 ELANTAS Tongling Co. Ltd.  Fellow Subsidiary
 
 ELANTAS Zhuhai Co. Ltd.  Fellow Subsidiary
 
 ELANTAS Isolantes Electricos Do Brasil LTDA Fellow Subsidiary
 
 BYKChemieAsia Pacific PTE Ltd.  Fellow Subsidiary
 
 ELANTAS Beck GmbH Fellow Subsidiary
 
 ELANTAS Malaysia Sdn Bhd Fellow Subsidiary
 
 BYKAsia Pacific Singapore Pte Ltd.  Fellow Subsidiary
 
 Eckart Asia Ltd.  Fellow Subsidiary
 
 ECKARTGmbH Fellow Subsidiary
 
 38.2 A. Key management personnel and relatives of key management
 personnel Key management personnel:
 
 Mr. Ravindra Kumar
 
 Mr. MilindTalathi(w.e.f.28 October2015)
 
 Mr. SharadkumarShetye(Upto27 May 2014)
 
 Mr. SanjayKulkami
 
 Mr. Shirish Dabir
 
 Relatives of key management personnel:
 
 Mrs.M.R.Shetye(Upto27May2014)
 
 3.  Management believes that the Company''s international transactions
 with related parties post 31 March 2015 (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
 taxation.
 
 4.  At the year end, the Company did not have any long term contracts
 for which there were any material foreseeable losses.  The Company does
 not have any derivative contracts.
 
 5.  Operating Lease as lessor (Continued)
 
 During the year, an amount of Rs,116.60 was recognised as rental income
 from above mentioned property in the Statement of Profit and Loss
 (Previous year: Rs,127.20)
 
 Pursuant to clause XV of the Leave & License agreement dated 8 July
 2012,the Company has served a notice on the licensee for recovery of
 unpaid dues as at the Balance Sheet date.
Source : Dion Global Solutions Limited
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