Election 2014
SENSEX NIFTY
Moneycontrol.com India | Notes to Account > Textiles - General > Notes to Account from GTN Textiles - BSE: 532744, NSE: GTNTEX
YOU ARE HERE > MONEYCONTROL > MARKETS > TEXTILES - GENERAL > NOTES TO ACCOUNTS - GTN Textiles
GTN Textiles
BSE: 532744|NSE: GTNTEX|ISIN: INE302H01017|SECTOR: Textiles - General
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
Apr 17, 15:14
5.70
0
VOLUME 214
LIVE
NSE
Apr 17, 17:00
5.80
-0.15 (-2.52%)
VOLUME 265
Mar 12
Notes to Accounts Year End : Mar '13
1 a) In the opinion of the management, assets other than fixed assets
 and non-current investments have a value on realisation in the ordinary 
 course of business at least equal to the amount at which they are stated.
 
 b) The accounts of certain Trade Receivables, Trade Payables, Loans &
 Advances and Banks are however, subject to formal
 confirmations/reconciliations and consequent adjustments, if any. The
 management does not expect any material difference affecting the
 current period''s financial statements on such
 reconciliation/adjustments.
 
 2 In term of Accounting Standard -17, the company operates materially
 only in one business segment viz., Textile industry and have its
 production facilities and all other assets located within India. Sales
 to external customers comprise outside India sales of Rs.10823.09 Lacs
 ( Previous year Rs.6402.00 lacs) and within India sale of Rs.9706.80
 lacs ( Previous year Rs.7177.11 Lacs)
 
 3 Finance Lease assets and their against loan repayable future
 payments disclosure required in AS 19.
 
 4 CONTINGENT LIABILITIES AND COMMITMENTS
 
 A COMMITMENTS
 
 1 Estimated amount of contracts remaining to be executed on capital
 account and not provided for (net of advances) Nil (Previous year
 Rs.Nil).
 
 2 Outstanding Forward Contracts ( not in the nature of derivatives) as
 on 31st March 2013 which were entered into for hedging exchange risk
 arising from foreign currency fluctuations related to highly probable
 future transactions amounting to US$ 32.64 Lacs (Previous year US.29
 Lacs) at average exchange rate of Rs.55.64/US$ (Previous year
 Rs.49.31/US$) and Euro 3.54 Lacs (Previous year 4.28 Lacs) at an
 average exchange rate of Rs.75.11/Euro (Previous year Rs.69.26/Euro).
 The period covered under these contracts spreads over April 2013 to
 September 2013 (Previous year April 2012 to March 2013). The average
 exchange rate applicable for above period based on exchange rate on
 31.03.2013 works out to Rs.55.49/US$ (Previous year Rs.52.67/US$) and
 Rs.71.25/Euro (Previous year Rs.70.37/ Euro), resulting a notional
 profit of Rs.18.73 lacs (Previous year notional loss of Rs.119.83 Lacs)
 B CONTINGENT LIABILITIES
 
 1 Contingent Liabilities and commitments not provided for in respect of
 : Disputed amounts of Taxes and duties and other claims not
 acknowledged as debts : Rs. NIL (Previous year Rs.Nil.)
 
 2 The company has given corporate Guarantee amounting of Rs.300 Lacs
 (Previous year Rs 300 Lacs) to EXIM bank in respect of financial
 assistance provided by them to PATSPIN INDIA LIMITED under restructured
 TUF scheme and the outstanding amount of the said loan is Rs.1237 Lacs
 (Previous year Rs 908 Lacs)
 
 5 Net loss / Gain on foreign currency transaction and translation
 
 The amount of net loss on foreign currency transaction and translation
 included in the Other expenses amounts to Rs.393.60 Lacs ( Previous
 year Rs.109.27 lacs loss ). This included loss on account of export
 Rs.193.16 Lacs (Previous year Rs.173.15 lacs loss), loss on account of
 import Rs.210.18 lacs ( Previous year Rs.77.34 Lac gain) and gain on
 account of cancellation of forward contracts Rs.9.74 lacs ( Previous
 year Rs.13.46 lacs loss)
 
 6 PREVIOUS YEAR FIGURES
 
 The previous year''s figures have been regrouped/reclassified wherever
 necessary to conform to the current year''s presentation.
Source : Dion Global Solutions Limited
Quick Links for gtntextiles
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.