1.1 The land and buildings of the company were revalued as on March
31,2009 by an external valuer on the basis of estimated market value in
the case of land and estimated depreciated replacement cost in the case
of buildings. The resulting net surplus on such revaluation aggregating
Rs.23,09,00,807has been credited to revaluation reserve.
1.2 The information 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. There are no overdues to parties on account
of principal amount and/or interest and accordingly no additional
disclosures have been made; and (ii) There are no amounts remaining
unpaid or unclaimed for a period of seven years in respect of unpaid
dividend, matured fixed deposits and interest thereon from the date
they became payable by the company and hence there are no amounts
remaining to be credited to the Investor Education and Protection Fund.
1.3 Derivatives - The company uses derivative financial instruments
such as forward contracts and option to hedge certain currency
exposures, present and anticipated, denominated mostly in US dollars,
Euro and Swiss Franks. Generally such contracts are taken for exposures
materializing in the next six months. The company actively manages its
currency rate exposures and uses these derivatives to mitigate the risk
from such exposures. The company has hedged exposure of US $ Nil (March
31,2012 US $ Nil) as at March 31,2013 and has a net unhedged exposure
of US $ 9,04,602 (March31,2012US$ Nil).
1.4 Raw material consumed-others include consumption of yarn for
manufacture of double yarn.
1.5 Power and fuel are (i) net of value of power generated by Wnd
energy converters Rs.10,94,14,250 (2011-12 Rs.6,71,09,012)and (ii)
after reckoning the reversal of carbon credit accrued in prior years of
Rs. Nil (2011-12 Rs.48,99,288), as a measure of abundant caution, due
to (a) rejection of claim for the credit by concerned sanctioning
authorities and (b) inordinate delay in issue of validation report even
after completion of inspection and documentation.
1.6 Human resources - Particulars of managerial remuneration (i) To
Managing Director - Salary Rs.21,60,000 (2011-12 Rs.21,60,000),
Perquisites Rs.14,40,000 (2011-12 Rs. 14,40,000); and (ii) To Joint
Managing Director - Salary Rs.14,40,000 (2011-12 Rs.14,40,000),
1.7 Depreciation/amortisation - Depreciation for the year computed on
revalued assets includes a charge of Rs.28,89,247 (2011 -12
Rs.28,89,247) being the excess depreciation computed by the method
followed by the company prior to revaluation and the same has been
transferred from Revaluation reserve to the Profit and Loss account.