1 Credit for CENVAT of Excise duty on raw materials have been taken in
Raw material A/c and Cenvat credit of Excise Duty on Capital Goods has
been credited to respective Capital Assets. The unutilised Cenvat
credit of Rs.7,09,472/- (Previous year Rs.18,51,248/-) is shown under
the CurrentAssets as Cenvat Receivable A/c.
2 The Depreciation on various assets have been computed for various
plants (HP, Guindy, IGK and Pondy) seperately as per the rates provided
in Schedule XIV of the Companies Act.
3 Previous years figures are re-grouped wherever considered necessary.
4 Confirmation of balances from Debtors, Creditors and Advances of the
Company have not been received.
5 Sales includes jobwork charges of Rs. 191.65 Lakhs;( Previous year-
Rs. 124.61 lakhs).
6 Deferred Tax
(a) Deferred Tax has been accounted in accordance with the requirement
of Accounting Standard on Taxes on Income (AS 22). Deferred Tax
Assets are recognised on c/f unabsorbed depreciation and Business Loss
as there is virtual certainity that sufficient future taxable income
will be available against which such asset can be adjusted.
7 The company operates in only one business segment Viz. Injection
Moulded Plastic Products.
8 Amount payable to MSME units- outstanding for more than 30 days
cannot be ascertained since we have not yet received the confirmation
from our suppliers on their status of industrial undertaking.
9 As per the representation received from the management there is no
impairment of loss to fixed assets.