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Elantas Beck India

BSE: 500123|NSE: DRBECK|ISIN: INE280B01018|SECTOR: Chemicals
Jun 24, 16:00
-30.4 (-2.05%)
VOLUME 5,808
Elantas Beck India is not traded in the last 30 days
« Dec 13
Notes to Accounts Year End : Dec '14
1. Contingent liabilities not provided for
                                               (Currency : Rs. in lacs)
                                                     2014          2013
 a)  Claims against the Company not 
     acknowledged as debts                         182.63        185.74
 b)  Excise duty matters                           233.14        226.96
 c)  Income tax matters                             23.93         23.93
 d)  Sales tax matters                             448.56        334.23
 e)  Guarantee in favour of Gujarat 
     Industrial Development Corporation             12.24         12.24
 2. Employee benefits :
 a) Defined contribution plans
 Amount of Rs. 163.63 (previous year : Rs. 154.68) is recognised as an
 expense towards superannuation & provident fund and included in the
 ''Contributions to provident and other funds'' under note no 24.
 b) Defined benefit plan (Gratuity)
 The Company operates a gratuity plan wherein every employee is entitled
 to the benefit based on last drawn salary for each completed year of
 service. The same is payable on termination of service or retirement
 whichever is earlier. The benefit vests after five years of continuous
 service. The same is funded with the Life Insurance Corporation of
 c) Defined benefit plan (Cash rewards at retirement)
 As per the plan, at the time of normal retirement, Rs. .025 (previous
 year .025) is payable to employees for each year of service rendered.
 The scheme is unfunded.
 3. 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
 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.
 4. A. Key management personnel and relatives of key management
 personnel Key management personnel :
 Mr Ravindra Kumar (with effect from 1 January 2014)
 Mr. Rajeev Bhide (upto 31 December 2013)
 Mr. Sharadkumar Shetye (Upto 27 May 2014)
 Relatives of key management personnel :
 Mrs. M. R. Shetye (Upto 27 May 2014)
 5. Management believes that the Company''s international transactions
 with related parties post 31 March 2014 (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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