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
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
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
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%)
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. Shirish Dabir
Relatives of key management personnel:
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
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.