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Granules India

BSE: 532482|NSE: GRANULES|ISIN: INE101D01020|SECTOR: Pharmaceuticals
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Mar 15
Notes to Accounts Year End : Mar '16
(a) Terms/Rights attached to equity shares:
 
 The Company has only one class of equity shares having face value of
 Rs.1/- . Each holder of equity shares is entitled to one vote per
 share. The company declares dividend 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.
 
 A final dividend of 20 paise per share of face value of Rs.1/- each has
 been recommended by the Board of Directors at their meeting held on
 April 28, 2016. This is in addition to three interim dividends of 15
 paise each per share of face value of Rs.1/- declared and paid during
 the year.
 
 Post approval of final dividend of 20 paise per equity share by the
 shareholders, the total dividend for the financial year 2015-16 would
 aggregate 65 paise per equity share of face value of Rs.1/- each
 (dividend for the previous year 2014-15, 50 paise per equity share of
 face value of Rs.1/- each)
 
 In the event of liquidation of the company, the holders of equity
 shares will be entitled to receive the 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.
 
 1. Employee Stock Option Plan
 
 Granules India Limited - Employee Stock Option Scheme 2009
 
 a) Pursuant to the decision of the shareholders at their meeting held
 on 25th September, 2009, the Company has formulated an Employee Stock
 Option Scheme 2009 to be administered by the Nomination & Remuneration
 Committee of the Board of Directors.
 
 b) Under the Plan, options not exceeding 1,00,63,070 have been reserved
 to be issued to the eligible directors and employees (Employees under
 permanent employment of the Company and its subsidiary company(ies),
 including Directors of the Company and its subsidiary, whether whole
 time or not, whether working in India or abroad or otherwise, except
 the Promoter Directors and Promoter group employees) with each option
 conferring a right upon the Optionee to apply for one equity share.
 
 c) The exercise price of the options is the closing market price of the
 shares on that stock exchange where there is highest trading volume
 prior to the date of the grant i.e. the date of the Nomination &
 Remuneration Committee / Board meeting at which the grant of options is
 approved.
 
 d) Under the above Scheme till date, options were granted in four
 tranches viz. Grant I, Grant II, Grant III & Grant IV. The options
 granted under the Plan shall start vesting in tranches after one year
 from the date of grant and not more than two, three and five years
 (differs from optionee to optionee) under Grant I, five years under
 Grant II & III and four years under Grant IV from the respective date
 of grant of the options.
 
 e) The exercise price being equal to the closing market price
 prevailing on the date prior to the date of grant, there is no deferred
 compensation cost to be amortized over the vesting period.
 
 2.  The Government of Andhra Pradesh, Commissionerate of Industries
 has vide its Letter No.20/2/9/0444/ID dated 11th October 1999 and its
 clarification vide Letter dated 4th August 2001 determined an
 eligibility of Rs.184.12 Lakhs towards Sales tax deferment on the sale
 of Paracetamol and the Sales tax payable by the Company for a period of
 4 years commencing from June 30, 1998 to June 29, 2012 is deferred.
 The liability of Rs. 62.23 Lakhs as at March 31, 2016 (Previous year
 Rs.63.89 Lakhs) for the deferred Sales tax is shown under unsecured
 loans.
 
 3.  Previous year''s figures have been regrouped/reclassified wherever
 necessary to confirm to current year''s classification.
 
 4.  Figures in Balance Sheet, Statement of Profit and Loss and Notes
 to audited financial statements have been rounded off to the nearest
 thousand and have been expressed in terms of decimals of thousands.
Source :
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