Jyothy Laboratories
BSE: 532926 | NSE: JYOTHYLAB | ISIN: INE668F01031 | Personal Care
- Directors Report
- Chairman's Speech
- Auditors Report
- Notes To Accounts
- Accounting Policy
- Finished Products
- Raw Materials
| Notes to Accounts | Year End : Mar '09 |
1. Background
Jyothy Laboratories Limited (‘the Company’) was incorporated on January
15, 1992. The Company is principally engaged in manufacturing and
marketing of fabric whiteners, soaps, detergents, mosquito coils and
incense sticks.
2. Basis of preparation of Financial Statements
The financial statements have been prepared to comply in all material
respects with the Notified accounting standard by Companies (Accounting
Standards) Rules, 2006 (as amended) and the relevant provisions of the
Companies Act, 1956. The financial statements have been prepared under
the historical cost convention on an accrual basis except in case of
assets for which provision for impairment is made. The accounting
policies have been consistently applied by the Company are consistent
with those used in the previous year.
3. Employee Benefit:
(i) Defined Benefit Plans -
The Company has a defined benefit gratuity plan. Every employee who has
completed five years or more of service gets a gratuity on departure at
15 days salary (last drawn salary) for each completed year of service.
The scheme is funded with an insurance company. The Company has
provided for gratuity and leave encashment based on actuarial valuation
done as per Projected Unit Credit Method.
E) There are no delays in payments to Micro, Small and Medium
Enterprises as required to be disclosed under Micro, Small and Medium
Enterprises Development Act, 2006.
The above information and the details given in Schedule 11 - Current
liabilities as required to be disclosed under the Micro, Small and
Medium Enterprises Development Act, 2006 has been determined to the
extent such parties have been identified on the basis of information
available with the Company. This has been relied upon by the Auditors.
4. SEGMENT REPORTING
Business segments:
The primary segment of the Company has been determined on the basis of
business segment. The Company is organised into two business segments -
Soaps and Detergents and Home Care. Segments have been identified
taking into account the nature of the products, the differing risks and
returns, the organisation structure and the internal reporting system.
Soaps and Detergents includes fabric whiteners, fabric detergents,
dishwash bar and soaps including ayurvedic soaps. Home Care products
include incense sticks, dhoop and mosquito coils.
Secondary segment:
The Company mainly caters to the needs of the domestic market. The
export turnover is not significant in the context of total turnover. As
such, there is only one reportable geographical segments.
Segment revenue and result:
The income/expense that are not directly attributable to the business
segments are shown as unallocated corporate costs.
Segment assets and liabilities:
Segment assets include all operating assets used by a segment and
consist principally of debtors, inventories, advances and fixed assets.
Assets at corporate level are not allocable to segments on a reasonable
basis and thus the same have not been allocated.
Segment liabilities include all operating liabilities and consist
principally of creditors and accrued liability.
5. RELATED PARTY DISCLOSURES
a) Parties where
control exists Individual having control
M.P. Ramachandran Chairman and Managing Director
As the Managing Director of the Company is an individual having control
and hence not separately disclosed as a Key management personnel.
Wholly Owned Subsidiaries
Sri Sai Home Care Products (P) Limited
Associated Industries Consumer Products Pvt. Ltd.
Other Subsidiary
Jyothy Fabricare Services Limited (w.e.f. September 10, 2008)
b) Related party relationships where transactions have taken place
during the period/year
Joint venture companies
Balaji Teleproducts Limited
Continental Speciale (India) Private Limited
Firm/HUF in which the relatives of individual having control are
partners/ members/ proprietor.
Beena Agencies
Quilon Trading Co.
Travancore Trading Corp.
Sree Guruvayurappan Agencies
M.P. Agencies
Tamil Nadu Distributors
Deepthy Agencies
Sahyadri Agencies
Sreehari Stock Suppliers
Sujatha Agencies
M.P. Divakaran - H.U.F.
M.P. Sidharthan - H.U.F.
Relative of individual having control
M.P. Sidharthan
M.R. Jyothy (Director)
M.R. Deepthy Ananth Rao T.
M.G. Santhakumari
M.P. Divakaran
Enterprises significantly influenced by key management personnel or
their relatives
Sahyadri Agencies Ltd.
Jyothy Fabricare Services Limited (up to September 9, 2008)
Key management personnel (includes directors of the Company)
K. Ullas Kamath Deputy Managing Director
6. Contingent Liabilities
As at As at
March 31, 2009 June 30, 2008
Contingent liabilities not provided
for in respect of:
(i) Amount outstanding in respect
of guarantees given
by the Company to banks
(a) as securities provided to NSE
for filling of prospectus for its
Initial Public Offering. - 152.84
(b) Others 69.68 35.78
(ii) Tax matters
(a) Disputed liability in respect
of income-tax demands matters under
appeal - 16.48
(b) Disputed sales tax demands
- matters under appeal 356.43 641.93
(c) Disputed excise duty and
service tax demand - matter under
appeal 31.56 31.56
(iii) Claims against the Company
not acknowledged as debt 120.00 147.60
577.67 1,026.19
7. During the previous year ended June 30, 2008, pursuant to the
completion of the Initial Public Offering, the Company had received an
amount of Rs. 544.54 and interest of Rs. 88.07 thereon in accordance
with the terms of Investment Agreement entered with some of the selling
shareholders.
8. During the earlier years, depreciation/impairment on assets include
impairment losses representing the amount by which the carrying amount
of the asset exceeds its recoverable amount. Such impairment losses
were due to adverse market conditions for one of its Cash Generating
Unit pertaining to the Soaps and Detergents segment. The pre-discount
rate used for evaluation of the present value was 8% per annum.
9. There are no amounts payable/due to Investor Education and
Protection Fund.
10. The shareholders of the Company have, in the Annual General
Meeting held on November 11, 2008, approved the sub-division of the
face value of the equity share of Rs. 5 each into equity shares of face
value of Re. 1 each. Accordingly, the basic and diluted earning per
share and number of shares disclosed above have been computed for the
current period and recomputed for the previous year based on the
revised face value of Re. 1 each.
11. The Company has changed its accounting year from July-June to
April-March. Accordingly, the current period financials are for a
period of 9 months from July 01, 2008 to March 31, 2009 and the figures
for the previous year ended June 30, 2008 are therefore not comparable.
12. The prior year figures have been reclassified where necessary to
conform with current periods presentation. |
|
![]() | |
| Source : Religare Technova | |
![]() | |




Online










