ii) The Company has only one class of shares referred to as equity shares having a par value of
Rs,10/-. Each shareholder of equity shares is entitled to one vote per share.
(iii) Aggregate number of equity shares allotted as fully paid up by way of bonus shares for the
period of five years immediately preceding the Balance Sheet date - 17,403,922 (previous year -
v) The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of
Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event
of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining
assets of the Company, after distribution of all preferential amounts. However, no such preferential amount
exists currently. The distribution will be in proportion to the number of equity shares held by the
a) Principal amount payable to Micro and Small Enterprises (to the extent identified by the Company
from available information) as at 31/12/2015 is Rs, 0.47 million (previous year - Rs,1.75 Million) including
unpaid amounts of Rs, Nil (previous year - Rs,Nil) outstanding for more than 45 days. Estimated interest due
thereon is Rs, Nil (previous year - Rs, Nil).
b) Amount of payments made to suppliers beyond 45 days during the year is Rs, 3.93 Million (previous
year -Rs,5.43 Million). Interest paid thereon is Rs, Nil (Previous Year - Nil) and the estimated interest due
and payable thereon is Rs, 0.09 Million (previous year - Rs, 0.15 Million).
c) The amount of estimated interest accrued and remaining unpaid as at 31/12/2015 is Rs, 1.97 Million
(previous year - Rs, 1.88 Million).
d) The amount of estimated interest due and payable for the period from 01/01/2016 to actual date of
payment or 30/01/2016 (whichever is earlier) is Rs, Nil.
Components and spare parts referred to in paragraph 5(viii)(c) of Part II of schedule III to the
Companies Act, 2013, are interpreted to mean the components and spare parts which are incorporated in the
products sold and not those used for the maintenance of plant and machinery.
1. In addition to spares purchased for re-sale, the Company also sells as spares some of its bought-out
components. The Company is of the opinion that the purchase and sale of such bought-out components is a part
of its activity to manufacture and deliver a complete pump unit and therefore, is not a trading activity as
referred to in paragraph 5(ii)(b) of Part II of Schedule III to the Companies Act, 2013.
The above information pertains to only those nonresident shareholders where the Company has made direct
remittance or has made payment into non-resident designated accounts with banks in India.
Note 1 - Research and Development expenditure debited to the Statement of Profit and Loss aggregating Rs,
2.94 Million (previous year - Rs, 4.16 Million) has been incurred by the Company and disclosed under
Miscellaneous expenses (Refer Note 25).
Note 2 - The net exchange differences arising during the year recognized appropriately in the Statement
of Profit and Loss - net loss- Rs, 20.88 Million (previous year - net loss - Rs, 50.71 Million).
Note 3 Disclosures under Accounting Standards
4. Details of Employee Benefits as required by the Accounting Standard 15 (Revised) Employee benefits are
5.a Defined contribution Plan
Amount recognized as an expense in the Statement of Profit and Loss in respect of Defined Contribution
Plan towards Provident Fund is Rs, 54.61 Million (previous year Rs, 52.48 Million).
6..b Defined benefit plans
i. Actuarial gains and losses in respect of defined benefit plans are recognized in the Statement of
Profit & Loss.
ii. The Defined Benefit Plans comprise of Gratuity and superannuation.
Gratuity is a benefit to an employee based on 15/ 20/ 25/ 30 days (depending on the grade/ category of
the employee and the completed years of service) last drawn salary for each completed year of service.
Superannuation is a benefit to certain employees at Rs, 1000/ 500/ 250 (depending on the grade/ category
of the employee and the completed years of service) per month for each completed year of service.
The Discount rate is based on the prevailing market yields of Indian Government securities as at the
Balance Sheet date for the estimated terms of the obligations.
Expected Rate of Return of Plan Assets : This is based on the expectation of the average long term rate
of return expected on investments of the Fund during the estimated term of obligations.
Salary Escalation Rate: The estimates of future salary increases considered takes into account the
inflation, seniority, promotion and other relevant factors.
(D) The related parties included in the various categories above, where transactions have taken place are
Controlling Companies KSB AG
Canadian Kay Pump Ltd.
Associate Company MIL Controls Ltd.
Subsidiary Company_Pofran Sales &c Agency Ltd._
Common Control KSB S.A.
KSB Inc., USA
KSB Pumps (S.A.) (Pty.) Ltd., South Africa KSB Australia KSB Chile S.A.
KSB Singapore (Asia Pacific) PTE. Ltd. Singapore
KSB Limited, Hongkong
KSB Pumps Co. Ltd., Thailand
P.T. KSB., Indonesia
KSB Taiwan Co. Ltd.
KSB Ltd., Tokyo
DP Industries B.V., Nederland
KSB Pumps Arabia Ltd.
KSB Ltd., U.K.
KSB Italia S.p.A., Italy
KSB Pompa Turkey
KSB Shanghai Pump Co. Ltd., China
KSB Valves (Shanghai) Co. Ltd., China
Mercantile-KSB Oy AB, Finland
Delian KSB Amri Valves Co. Ltd., China
Bombas ITLTR S.A., Spain
KSB TESMA S.A., Griechenland
KSB Tech. Pvt. Ltd., India
GIW Industries Inc., LISA
KSB Middle East FZE, Dubai
KSB Pumpy Armatury spol. sr.o, Czech
KSB Service LLC KSB Pompy Armatura Poland KSB Compania Sudamericana KSB Belgium SA KSB China
KSB Pumps & Valves Malaysia
KSB Finanz SA
KSB AMV SA Spain
KSB Mork AB, Sweden
KSB Lindflaten, Norway
KSB Oesterreich, Austria
KSB Pompes ET Robintteries Sari, Morocco
KSB Service GMBH
KSB New Zeland
KSB OOO, Russia
KSB Valvulas Ltda. Brazil
KSB Services Ltd., Saudi Arabia
AMRI Inc., USA
KSB Vietnam Company Ltd.
KSB Philippines KSB Colombia SAS KSB Zurich AG, Switzerland Key management personnel Mr. W.
Individuals having significant influence over the enterprise Mr. Gaurav Swarup
Relatives of individuals having significant influence over the enterprise Mrs. Gyan M. Swarup
Mahendra Swarup & Sons HLTF Mr. Vikram Swarup Mrs. Bindu Swarup Mrs. Parul Swarup
Enterprises over which individuals having significant influence over The Industrial & Prudential
Investment Co. Ltd.
the reporting enterprise exercise significant influence New Holding and Trading Company Ltd.
Paharpur Cooling Towers Ltd.
Note 7 - Where a financial report contains both consolidated financial statements and separate financial
statement for the parent, segment information needs to be presented only in case of consolidated financial
statements. Accordingly, segment information has been provided only in the consolidated financial
Note 8 - Details of provisions and movements in each class of provisions as required by the Accounting
Standard on ‘Provisions, Contingent liabilities and Contingent assets’ (AS-29)
Note 9 - Earnings per Share
(a) The amount used as the numerator in calculating basic and diluted earnings per share is the Profit
for the year attributable to the equity shareholders disclosed in the Statement of Profit and Loss.
(b) The weighted average number of equity shares used as the denominator in calculating both basic and
diluted earnings per share is 34,807,844.
Note 10 - Repairs to machinery include Rs, 36.06 Million (previous year - Rs, 36.12 Million)
Note 11 - Provision for taxation for the year is an aggregate of the provision made for the year ended
31st March, 2015 as reduced by the provision for 9 months up to 31st December, 2014 and the provision based
on the figures for the remaining 9 months up to 31st December, 2015. However, the ultimate tax liability for
the remaining 9 months up to 31st December, 2015 will be determined based on the results for the year 1st
April, 2015 to 31st March, 2016.
Note 12 - The prescribed Corporate Social Responsibility (CSR) expenditure required to be spent in for
year 2015 as per Section 135 of the Companies Act, 2013 is Rs, 18.30 Million. The Company has spent Rs, 18.30
million towards CSR. No amount has been spent on construction/acquisition of an asset of the Company.
Note 13 - Previous year’s figures have been regrouped/reclassified wherever necessary to correspond
with the current year’s classification/disclosure.
Signature to Notes 1 to 43
In terms of our report attached G. Swarup Chairman
For Deloitte Haskins & Sells LLP A. R. Broacha
Chartered Accountants D. N. Damania
N. N. Kampani
Hemant M. Joshi Verghese Oommen Pradip Shah Directors
(Partner) Director Finance Dr. Stephan Bross
V. K. Viswanathan S. F. Motwani
W. Stegmuller _
R. Narasimhan W. Spiegel Managing Director
Pune, 18th February, 2016 Mumbai, 18th February, 2016