The Company was incorporated as S P Leasing Limited on April 10, 1984
in New Delhi as Public Limited Company under the Companies Act, 1956.
The name of the company was changed to Jyotiragamaya Promoters Limited
on May 1, 2008. Subsequently, the name of the company was changed to
Tirpuati Inks Limited on March 27, 2009 pursuant to the Scheme of
Amalgamation approved by the Honor''able High Court of Delhi on
November 19, 2008.The company is engaged in the manufacturing of
Printing Inks & its Allied Products and provides complete packaging
solutions. The Company has its manufacturing units located at Jammu and
Greater Noida. The Equity Shares of the company stand listed on Bombay
Stock Exchange Limited and Delhi Stock Exchange Limited.
1.1 In March,2011, a major fire erupted in the Kanpur Unit of the
Company and caused damaged to the Building, Plant & Machinery and
Stocks. The loss was fully covered under the Insurance Policy. The
Company lodged an insurance claim of Rs. 675.00 lacs based on market
value of assets lost/damaged in fire. However, as a prudent accounting
policy, the company accounted for only Rs. 556.42 lacs (Rs. 127.13 lacs
for Fixed Assets & Rs. 429.29 towards stocks, including taxes) in its
books of accounts as Insurance Claim pending adjudication, being the
book value of assets lost/destroyed in fire. As informed by the
management the said Insurance Claim is in the final stage of
settlement. Any excess/less value, being contingent in nature, will be
adjusted at the time of final disposal of the Insurance Claim.
1.2 During the financial year the company started its commercial
production on 28.01.2012 in its new manufacturing Unit at Greater Noida
1.3 Provision for taxation of Rs. 81.26 Lacs for the financial year
2011-12 represents Income Tax computed as per MAT prescribed under the
Income Tax Act, 1961.
1.4 Based on the information available with the company in respect of
MSME (as defined in the Micro Small & Medium Enterprises Development
Act, 2006) there are no delays in payment of dues to such enterprises
during the period.
The above information regarding Micro Small & Medium Enterprises has
been determined to the extent such parties have been identified on the
basis of information available with the company. This has been relied
upon by the auditor.
1.5 In the opinion of the Board, the Current Assets, Loans & Advances
are approximately of the value stated, if realized, in the ordinary
course of business.
1.6 The company has provided Excise Duty of Rs. 0.97 Lacs ( Previous
Year Rs. 1.82 Lacs) on the finished goods lying in the premises as on
the Balance Sheet date and included in the inventory value.
1.7 Additional Information, where applicable, pursuant to the
provisions of Schedule VI of the Companies Act 1956, is as under:-
A. Licensed Capacity
The Company is not required to obtain License under the Industrial
Development & Regulation Act, 1951 as informed by the management;
therefore the said details are not applicable.
B. Installed Capacity (Printing Inks & Allied Products)
Greater Noida Unit *8400 MT P.A.
Jammu Unit *840 MT P.A.
*Installed Capacity has been ascertained on a presumed product mix and
is variable with the change in product mix, in view of the fact that
different varieties of products are produced using different machines
and different time cycles. This capacity is on the basis of Single
shift working as certified by the management and being a technical
matter, relied upon by the auditor without verification.
H. Amount remitted during the year in foreign currency on dividends
and number of non - resident Shareholders - NIL
1.8 SEGMENT REPORTING:-
Based on the guidelines of Accounting Standards on Segment Reporting
(AS-17) issued by The Institute of Chartered Accountants of India, the
Company''s primary business segment is Printing Inks & Allied Products
and Polyester Films. Details of Business Segment to the extent
available, are as follows:-
*The Board of Directors at their meeting held on 23.08.2011 decided
that instead of investing Rs. 500.00 Lacs each earmarked for
Acquisitions and General Corporate Purposes, the company shall invest
these amounts on its Capacity Expansion to include more machines for
the purpose of creating larger capacities at its Greater Noida Unit.
This decision of the Board was subsequently approved by the
shareholders by means of passing a special resolution at the Annual
General Meeting of the company held on 27.09.2011.
**Pending utilization for designated purposes, funds used for working
capital for optimum returns.
1.9 During the year the Company capitalized its Pre-operative Expense
of Rs.74.66 Lacs towards its various Fixed Assets.
1.10 The Financial Statements for the Financial Year 31.03.2012 have
been prepared as per the then applicable pre revised Schedule VI of the
Companies Act, 1956. Consequent to the notifications under the
Companies Act, 1956 the financial Statements for the year ended
31.03.2012 are prepared under Revised Schedule VI. Accordingly, the
Previous Year figures have also been reclassified and regrouped to
bring them in conformity with the current year''s classification.
1.11 All the figures have been rounded off to the nearest lacs of