SENSEX NIFTY India | Notes to Account > Pumps > Notes to Account from KSB Pumps - BSE: 500249, NSE: KSBPUMPS
KSB Pumps
BSE: 500249|NSE: KSBPUMPS|ISIN: INE999A01015|SECTOR: Pumps
Jul 02, 13:49
-3.25 (-0.52%)
VOLUME 1,475
Jul 02, 13:49
-7.35 (-1.18%)
VOLUME 4,529
« Dec 13
Notes to Accounts Year End : Dec '14
1 Company Overview Products:
 The Company is engaged in the business of manufacture of different
 types of power driven pumps and industrial valves. Castings are mainly
 produced for captive consumption.
 The Company has factories at the following places:
 A) Irrigation and Process Pumps Division (I.P.D.) at Pimpri
 Manufacturing of submersible pumps, vertical and horizontal pumps,
 series and non-series pumps, Multistage pumps, chemical process pumps,
 non clog pumps and water pumps.
 B) Power Projects Division (P.P.D.) at Chinchwad
 Manufacturing of primary heat transfer pumps, moderator pumps, main
 boiler feed pumps and multistage condense extraction pumps, re-heater
 drain pumps and auxiliary boiler feed pumps.
 C) Foundry Division at Vambori
 Manufacturing of steel & iron castings including for captive
 D) Coimbatore Unit
 Manufacturing of valves (Globe, Gate, Check, Butterfy & Ball valves).
 E) Nasik Unit (Sinnar)
 Established in 1995, this unit is engaged in the manufacture of high
 pressure and submersible pumps.
 Note 2 - Contingent Liabilities and Commitments
 Particulars                                   As at 31st    As at 31st
                                           December, 2014 December, 2013 
                                   Million Million
 (i) Contingent Liabilities
 (a) Claims against the Company not 
 acknowledged as debts                            15.09         10.99
 (b) Taxation matters in dispute pending 
 at various stages of appeal                      46.57         63.20
 (c) Bills Discounted/Cheques purchased 
 with banks                                       13.71         35.25
 (d) Excise matters                              120.69         75.46
 (e) Guarantees given by the bankers on 
 behalf of the Company                         1,061.70      1,186.38 
 (ii) Commitments
 Estimated amount of contracts remaining to 
 be executed on capital account and not 
 provided for (net of advances) - 
 -Tangible Assets                                156.48        21.37
 Note 3
 a) Principal amount payable to Micro and Small Enterprises (to the
 extent identifed by the Company from available information) as at
 31/12/2014 is Rs.1.75 Million (previous year – Rs.0.22 Million) including
 unpaid amounts of Rs. Nil (previous year – Rs.0.01 Million) 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.5.43 Million (Previous year – Rs.1.19 Million). Interest paid
 thereon is Rs.Nil (Previous Year – Nil) and the estimated interest due
 and payable thereon is Rs.0.15 Million ( Previous year - Rs.0.02
 c) The amount of estimated interest accrued and remaining unpaid as at
 31/12/2014 is Rs.1.88 Million (previous year – Rs.1.73 Million).
 d) The amount of estimated interest due and payable for the period from
 01/01/2015 to actual date of payment or 30/01/2015 (whichever is
 earlier) is Rs. Nil
 1.  As the Company also sells as spare parts (for goods manufactured
 and sold by it), some of its bought-out components, the items shown
 above as consumption include cost of such items sold, this being an
 activity ancillary to its manufacturing activity.
 2.  The Company is of the opinion that the purchase & 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 Revised Schedule VI
 to the Companies Act, 1956.
 3.  The consumption fgures in value are balancing fgures ascertained on
 the basis of opening stocks plus purchases less closing stocks and
 therefore, include adjustments for excesses and shortages ascertained
 on physical count, etc.
 Note 4 - Research and Development expenditure debited to the Statement
 of Profit and Loss aggregating Rs.4.16 Million (previous year - Rs.2.43
 Million) has been incurred by the Company and disclosed under
 Miscelleneous expenses (Refer note 25).
 Note 5 - The net exchange differences arising during the year
 recognised appropriately in the Statement of Profit and Loss - net loss-
 Rs. 50.71 Million (previous year - net loss- Rs. 0.43 Million).
 Note 6 Disclosures under Accounting Standards
 6.1 Details of Employee Benefits as required by the Accounting Standard
 15 (Revised) Employee benefits are as under:
 6.1.a Defined contribution Plan
 Amount recognised as an expense in the Statement of Proft and Loss in
 respect of Defned Contribution Plan towards Provident Fund is Rs.52.48
 Million (previous year Rs.48.63 Million)
 6.1.b Defined benefit plans
 i.  Actuarial gains and losses in respect of defned benefit plans are
 recognised in the Statement of Profit & Loss.
 ii.  The Defned 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/ catagory 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 infation, seniority, promotion and
 other relevant factors.
 Note 7 - Where a financial report contains both consolidated fnancial
 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 fnancial statements.
 Note 8 - 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
 Note 9 - Repairs to machinery include Rs.36.12 million (previous year -
 Rs.43.17 million) spares consumed.
 Note 10 - Provision for taxation for the year is an aggregate of the
 provision made for the year ended 31st March, 2014 as reduced by the
 provision for 9 months up to 31st December, 2013 and the provision
 based on the figures for the remaining 9 months up to 31st December,
 2014. However, the ultimate tax liability for the remaining 9 months up
 to 31st December, 2014 will be determined based on the results for the
 year 1st April, 2014 to 31st March, 2015.
 Note 11 - Previous year''s figures have been regrouped/reclassified
 wherever necessary to correspond with the current year''s
Source : Dion Global Solutions Limited
Quick Links for ksbpumps
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of is prohibited.