Kabra Extrusion Technik

1. a) The Computation of Net Profit for the Purpose of Directors
 Remuneration under section 349 of the Companies Act, 1956 is not
 enumerated since no commission has been paid to the Directors.
 
 2.  In the opinion of the Board of Directors, the Current Assets and
 Loans & Advances are approximately of the value stated, if realised in
 the ordinary course of business. The provisions for all known
 liabilities are adequate and not in excess of the amount reasonably
 necessary.
 
 3.  Estimated amount of contracts remaining to be executed on capital
 account and not provided for is Rs. 3,00,00.000/- (Previous Year Rs.
 2,75,00,000/-).
 
 4.  Contingent Liabilities not provided for
 
                                                 2008-09         2007-08
                                                 (Rupees)        (Rupees)
 (a) In respect of counter gurantee given to 
 bank for gurantees issued by bank              3,23,00,825  4,29,10,502 
 on behalf of the Company (Bank
 gurantees are secured by hypothecation/ 
 charges on Companys current/fixed assets )
 
 (b) In respect of disputed demands/claims 
 against the Company
 
 (i) Excise matter under dispute Appeal by 
 Department                                     19,57,563      19,57,563
 
 (ii) Service Tax matter under dispute 
 Appeal by Company                              50,000            50,000
 
 5.  Amount of borrowing costs capitalised as per AS -16 during the year
 was Rs.NIL (Previous Year Rs. NIL /-).
 
 6.  The Company is operating in one segment only i.e. Plastic Extrusion
 Machinery and Allied Equipments.
 
 7.  There are no lease transactions during the year.
 
 8.  As required by Accounting Standard - 20, the basic earning per
 share is Rs. 14.67 arrived by dividing Net Profit after tax and
 deferred tax by number of shares 7975580 (Previous year Rs.18.19)
 
 9. As required by AS-18 Related Party Disclosures are given below.
 
 a) Names of Related parties and description of relationship with whom
 there were No Transactions during the year.  
 
 i) Maharashtra Plastic Industries, Mahashree Plastic Inds. P. Ltd,
 Kabra Gloucester Enginnering Ltd - Associate Concerns. Mrs.Veenadevi S.
 Kabra, Mrs. Saritadevi S. Kabra, Mr. Varun S. Kabra, Gopilal R. Kabra -
 HUF- Relatives of Directors.
 
 ii) All Purpose Consultations & Services Pvt. Ltd., Harekrishna
 Harerama Trading Company Pvt.Ltd, Ideal Consultancy Service Pvt Ltd,
 Welworth Investments & Trading Company Pvt Ltd, Elegant Trading &
 Investments Co. P. Ltd. See diff Software Solutions (India) Pvt. Ltd,
 SPL Industrial Park Ltd, SPL Industrial Support Services Ltd, Suprème
 Petrochem Ltd, Suprème Capital Management Ltd.,Rama Newsprint and Paper
 Ltd.,Multilayer Films P. Ltd., Jagatguru Investment & Trading Co. P.
 Ltd., Jeetmal Chhogmal, Polysterene Producers Association (India),
 Chemical & Petrochemicals Manufacturers Assn, LIC Housing Finance
 Ltd.,Dishman Pharmaceuticals & Chemicals Ltd., Deutsche Trustee
 Services (India) Pvt. Ltd., IBS Forex Limited, Encee Securities Pvt
 Ltd., P. C. Parmar & Co. P. C. Parmar & Associate - Concerns in which
 directors are interested.
 
 b) Names of related parties and description of relationship with whom
 there were Transactions during the year
 
 i) Kolsite Maschine Fabrik Ltd, Plastiblends India Ltd, Maharashtra
 Plastic & Inds, Smartech Global Solutions Ltd., Rambalab Ramnaran,
 Kolsite Industries, Wonderworld Resorts Limited - Associate Concerns.
 
 ii) Mr. S. V. Kabra, Mr. S. N.Kabra, Mr. H.S. Sanwal, Mr. M.P.Taparia,
 Mr. Y.B. Desai, Mr. Anand S. Kabra, Mr. N. C. Chauhan - Director.
 
 iii) The Suprème Industries Ltd. - Concern in which Director is
 interested.
 
 10.  In absence of intimation from the vendors with regards to their
 registration (filing of Memorandum) under The Micro, Small & Medium
 Enterprise Development Act, 2006 (27 of 2006) and in view of the terms
 of payments not exceeding 45 days, no liability exists at the close of
 the year and hence no disclosure have been made in this regard.
 
 11.  According to Accounting Standard 29 Provisions, Contingent
 Liabilities and Contigent Assets an incremental provision of Rs.
 7,00,000/- (Previous year Rs.18,00,000/-) towards warranty claims has
 been made as estimated by management (warranty provisions as on
 31.03.2009 Rs. 1,50,00,000/-)
 
 12.  Previous years figure have been regrouped and rearranged wherever
 necessary.