a) The Company has issued only one class of shares referred to as
equity shares having a par value of Rs. 10/-.
b) Each holder of equity shares is entitled to one vote per share.
c) The Company declares and pays dividends in Indian Rupees.
d) Except interim dividend which is declared and paid based on the
decision of the Board of Directors, all other dividends are proposed by
the Board of Directors and paid on approval of the shareholders at the
Annual General Meeting.
e) 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 amounts exist currently. The distribution will be in
proportion to the number of equity shares held by the shareholders.
f) During the last five years immediately preceding the date of the
Balance Sheet, the Company has not issued any shares as bonus shares or
without payment being received in cash nor has bought back any shares.
g) Following are the shareholders holding more than 5% equity shares
and the number of equity shares held by each of them:
Rs. in lacs
Year ended Year ended
1. CONTINGENT LIABILITIES AND
COMMITMENTS (TO THE EXTENT NOT
a) Estimated value of contracts
remaining to be executed:
- On Capital Account (net) 2.39 146.92
- Others 23.88 -
b) Income Tax / Sales Tax liability
in appeal. 53.89 106.82
c) Liability towards Labour cases 7.86 6.66
d) Other Contingent Liabilities :
i) Bank Guarantees for domestic sales 41.69 79.32
2. PROPOSED DIVIDEND
The total dividend proposed by the Board of Directors subject to the
approval of the shareholders is Rs. 118.04 lacs (PY-157.38) the rate of
dividend is 30% (PY-40%) which works out to Rs. 3/- (PY-Rs. 4/-) per
The Company had obtained exemption for its Provident Fund Trust under
Section 17 of Employee''s Provident Fund and Miscellaneous Provisions
Act, 1952. Conditions for grant of exemptions stipulate that the
employer shall make good deficiency, if any, in the interest rate
declared by trust vis-a-vis statutory rate.
a) Defined Benefit Plan:
The employees'' gratuity fund scheme managed by Life Insurance
Corporation of India is a defined benefit plan. The present value of
obligation is determined based on actuarial valuation using the
Projected Unit Credit Method, which recognises each period of service
as giving rise to additional unit of employee benefit entitlement and
measures each unit separately to build up the final obligation. The
obligation for leave encashment is recognised in the same manner as
3. The Company has prepared the Financial Statements in accordance
with the revised Schedule VI to the Companies Act, 1956 which was
notified on 28-02-2011. Accordingly the figures for the previous year
have been rearranged and reclassifed so as to make them comparable with
those of the current year.