Praj Industries
BSE: 522205 | NSE: PRAJIND | ISIN: INE074A01025 | Engineering - Heavy
- Directors Report
- Chairman's Speech
- Auditors Report
- Notes To Accounts
- Accounting Policy
- Finished Products
- Raw Materials
| Notes to Accounts | Year End : Mar '09 |
1. Segment reporting The Companys activities involve predominantly one business segment i.e. Process and Project Engineering, which are considered to be within a single business segment since these are subject to similar risks and returns. Accordingly, Process and Project Engineering comprise the primary basis of segmental information as set out in these financial statements, which therefore reflect the information required by AS 17 - Segment Reporting, with respect to primary segments. The Company has identified India and Rest of the World as geographical segments for secondary segmental reporting. Geographical sales are segregated based on the location of the customer who is invoiced or in relation to which the sale is otherwise recognised. Assets other than receivables used in the Companys business or liabilities contracted have not been identified to any of the reportable segments, as these are used interchangeably between segments. All assets other than receivables are located in India. Similarly, capital expenditure is incurred towards fixed assets located in India. 2. Quantitative information of foreign exchange instruments outstanding as at the Balance Sheet date The foreign currency forward contracts outstanding as at the Balance Sheet date aggregate USD 22.250 & GBP 2.250 (2008 : USD 13.000, GBP Nil). 3. Employee benefits The disclosures in accordance with the requirements of Accounting Standard 15 (Revised 2005) Employee Benefits are provided below: (a) Defined contribution plans The Company has recognised Rs. 21.566 towards post employment defined contribution plans comprising of provident and superannuation fund in the Profit and Loss Account. 4. Employee stock options : The Compensation Committee of the Company established the Employee Stock Option Plan on 23 July 2005. Employees covered by the Plan are granted an option to purchase shares of the Company subject to the requirements of vesting. Total of 4,055,626 stock options were approved in the Annual General Meeting of the Company held on 23 July 2005, of which the employees have been granted 1,743,000 stock options on 12 October 2005 (Grant I) and 1,176,900 stock options on 28 D ecember 2006 (Grant II). The stock options vest in a graded manner equally over three years with each vesting taking effect on the expiry of 12 months from the date of grant. These can be exercised within a period of three years from the date of vesting. The stock options granted are exercisable at 100% of the fair market value of the underlying equity shares of the Company as on the date of grant. 5. Prior year comparatives : Previous years figures have been regrouped/reclassified to conform to the current years presentation. The previous years financial statements were audited by a firm other than B. K. Khare & Co., Chartered Accountants. |
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| Source : Religare Technova | |
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