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Empire Industries

BSE: 509525|ISIN: INE515H01014|SECTOR: Glass & Glass Products
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Empire Industries is not listed on NSE
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Mar 16
Notes to Accounts Year End : Mar '17

1. Terms / rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. The Board of Directors in its meeting held on 23rd May, 2017 has proposed a dividend of Rs.25/- per Equity Share for the Financial Year ended 31st March, 2017. The proposal is subject to the approval of shareholders at the Annual General Meeting to be held on 27th July, 2017. The total dividend for the year ended 31st March, 2017 when appropriated, shall amount to Rs.18,05,36,410/- (including corporate Dividend Tax of Rs.3,05,36,460/-).

3. The value of stocks includes all taxes and duties. Cenvat is credited to statement of Profit & Loss on consumption basis. Cenvat related to year-end stock is carried forward in Balance Sheet under the head ‘Other Liabilities''.

4. Excise duty liability on Finished Goods stock has not been provided and also not included in the valuation of Finished Goods stock. However, it has no impact on Statement of Profit & Loss.

5. The previous year''s figures have been regrouped / reclassified wherever necessary.

6. Segment wise information for the year ended 31st March, 2017 :

Segments have been identified in line with the “Accounting standard on segment reporting” (AS-17), taking into account, the nature of products and services, the organization and internal reporting structure as well as differential risk of these segments.

(a) The management has identified following main business segments: Manufacturing - comprising of manufacturing glass bottles, Trading, Business Support Service, Consultancy and Commission.

(b) Segment Revenue in each of the above domestic business segments primarily include Sales & service, commission income in respective segments.

(c) The Segment revenue in the geographical segments considered for the disclosure are as follows:

Domestic - comprising of sales to customers located within India and earnings in India.

International - comprising of sales to customers located outside India and Business support services, consultancy and commission.

(d) Segment Revenue, Results, Assets and Liabilities include the respective amounts identifiable to each of the segments and amounts allocated on a reasonable basis.

7. Notes on Financial Statements for the Year ended 31st March, 2017.

Details of specified Bank Notes (SBN) held and transacted during the period from 8th November, 2016 to 30th December, 2016:

Notes referred to above form an integral part of the Balance Sheet and Statement of Profit and Loss.

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