Rights attached to Equity Shares : Shareholders are entitled to such
rights as to attend meetings of the shareholders, to receive dividend
distributable and also have a right in residual interest in the assets
of the Company. Further shareholders are entitled to right of
inspection of the documents as provided in Companies Act, 1956.
1. Contingent liabilities not provided for
a. On counter guarantee furnished to bank 403.74 327.15
b. On account of bill discounting 91.80 93.70
c. Customs duty under Export Promotion
Capital Goods Scheme 189.13 189.13
d. Contracts remaining to be executed on
Capital Account and not provided for 100.47 -
2. Managerial Remuneration
The shareholders have approved at the annual general meeting held on
7th September, 2009 remuneration to Mr A G Giridharan, Manager, up to 5%
of the net profits of the Company, subject to a ceiling of Rs.48 lakhs
per annum. However, based on the profitability for the year ended 31st
March 2012, he was paid Rs.51.47 lakhs, which was approved by Board of
Directors, subject, of course, to the final approval by the shareholders
vide item no.5 of notice of even date for the ensuing annual general
3. Other expenses include
No individual expense is in excess of 1% of the Revenue from operations
or Rs.1,00,000/- whichever is higher.
4. Expenses, wherever applicable are inclusive of service tax at
appropriate rates and net of service tax set off permissible.
5. Dividend - Interim Dividend payable: The amount proposed to be
distributed to the shareholders on 77,69,040 Equity Shares is at
Rs.3.50/- per share amounting to Rs.271.92 lakhs.
6. Last year''s figures have been regrouped wherever necessary to
conform to this year''s classification.
Note: 1) The above statement has been prepared in indirect method
except in case of dividend, interest, direct tax, purchase and sale of
investments, which have been considered on the basis of actual movement
2) Cash and Cash equivalent represents cash and bank balances