1. Contingent liabilities
(i) Claims against the company not
acknowledged as debts 3,65,08,688 3,65,08,688
(ii) Bills discounted with banks 2,76,85,194 -
Out flow relating to above not
practicable to indicate in view of
the uncertainties involved
2. Segment information
The company''s primary segment is identified as business segment based
on nature of products, risks, return and the internal business
reporting system (i.e. cotton yarn) and operates in a single
geographical segment as per Accounting Standard 17.
3. 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.23,09,00,807 has been credited to revaluation reserve.
4. 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.
(i) There are no overdues to parties on account of principal amount
and/or interest and accordingly no additional disclosures have been
(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.
5. 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, 2013 US $ Nil) as at March 31, 2014 and has a net unhedged exposure
of US $ 2,22,178 (March 31, 2013 US$ 9,04,602).
6. Raw material consumed - others include consumption of yarn for
manufacture of double yarn.
7. Power and fuel is net of value of power generated by Wind energy
converters Rs.9,44,09,019 (2012-13 Rs.10,94,14,250).
8. Human resources - Particulars of managerial remuneration
(i) To Managing Director - Salary Rs. 21,60,000 (2012-13 Rs.
21,60,000), Perquisites Rs.14,40,000
(ii) To Joint Managing Director - Salary Rs.14,40,000 (2012-13
Rs. 9,60,000 (2012-13 Rs.9,60,000).
9. Depreciation / Amortisation - Depreciation for the year computed
on revalued assets includes a charge of Rs.28,89,247 (2012-13
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.