Trent
BSE: 500251 | NSE: TRENT | ISIN: INE849A01012 | Retail
- Directors Report
- Chairman's Speech
- Auditors Report
- Notes To Accounts
- Accounting Policy
- Finished Products
- Raw Materials
| Notes to Accounts | Year End : Mar '09 |
1. Estimated amount of contracts remaining to be executed on capital account and not provided for Rs.513.80 lakhs (2007-2008 : Rs.526.81 lakhs) 2. Contingent Liabilities : (a) Sales tax, Excise and Customs demands against which the Company has filed appeals : Rs.56.20 lakhs (2007-2008: Rs.133.04 lakhs) - net of tax Rs.37.10 lakhs (2007-2008 : Rs.87.82 lakhs). (b) Claims made against the Company not acknowledged as debts : Rs. 657.59 lakhs (2007-2008 : Rs. 617.83 lakhs). (c) Income-tax demands against which the Company has filed appeals : Rs.219.98 lakhs (2007-2008 : Rs. 419.44 lakhs). (d) Corporate Guarantee given on behalf of Subsidiary : Rs. Nil. (2007-2008 : Rs.10,000.00 lakhs). (e) As a matter of abundant caution, a general provision for contingencies of Rs.205.00 lakhs (2007-2008: Rs.205.00 lakhs) has been made against items (a), (b) and (c) above, which are disputed by the Company. 3. Loss on foreign exchange fluctuation (net) debited to the profit and loss account amounted to Rs.11.11 lakhs (2007-2008 : Rs. 4.29 lakhs). 4. There are no Micro, Small and Medium Enterprises , to whom the Company owes dues, which are oustanding for more than 45 days as at 31st March, 2009. This information as required to be disclosed under the Micro, Small and Medium Enterprise Development Act, 2006 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 Auditors. 5. There are no amounts due and outstanding to be credited to Investor Education and Protection Fund as at 31st March, 2009 except Rs.3.63 lakhs (2007-2008 : Rs.3.25 lakhs) which is held in abeyance due to legal cases pending. 6. (a) Rs. 93.62 crores received from Preferential Issue of Equity Shares to Tata Sons Limited and Tata Investment Corporation Limited in December 2006 , have been fully utilised towards objects of the the issue. (b) Out of the Right Issue (July 2007) proceeds of Rs. 157.41 crores, Rs. 67.85 crores have been utilised towards object of the issue and pending utilisation, the balance unutilised amount is invested mainly in Mutual Funds. 7. Provision for taxation is inclusive of the tax impact on account of the Securities / Warrant issue expenses and premium on redemption of Debentures debited to the Securties Premium Account. The Company has taken credit for MAT which is entitled on future taxable profits. 8. SEGMENT REPORTING The main business of the Company is retailing. All other activities of the Company are incidental to the main business. Accordingly, there are no separate reportable segments in terms of the Accounting Standard 17 on Segment Reporting issued by ICAI. (b) Defined Benefit Plans - Provident Fund Contribution to Trust administered by the Company The Guidance issued by the Accounting standard Board (ASB) on implementing AS-15, Employee benefits (revised 2005) states that provident fund set up by employers which requires interest short fall to be met by the employer, needs to be treated as defined benefit plan.The Companys provident fund contribution to the Company administered trust during the year is Rs.12.89 lakhs. The fund does not have any existing deficit or interest shortfall. In regard to any future obligation arising due to interest shortfall (i.e. government interest to be paid on provident fund scheme exceeds rate of interest earned on investment) and pending the issuance of the Guidance Note from the Actuarial Society of India, the Companys actuary has expressed his inability to reliably measure the same. (c) Leave Encashment (Long term compensated absences ) recognised as expense for the year is Rs 133.77 lakhs. 9. RELATED PARTY TRANSACTIONS : Related parties are as certified by the management 22.01 Parties where control exists Trent Brands Limited - Subsidiary Company. (100% Equity Share Capital is held by Trent Limited as at 31st March 2009) Fiora Services Limited - Subsidiary Company. (25.67% Equity Share Capital is held by Trent Limited as at 31st March 2009) (64.20% Equity Share Capital is held by Trent Brands Limited as at 31st March 2009) Satnam Developers and Finance Private Limited - Subsidiary Company (100% Equity Share Capital is held by Trent Limited as at 31st March 2009) Nahar Theatres Private Limited - Subsidiary Company (100% Equity Share Capital is held by Trent Limited as at 31st March 2009) Fiora Link Road Properties Limited - Subsidiary Company (100% Equity Share Capital is held by Trent Limited as at 31st March 2009) Landmark Limited - Subsidiary Company (77.41% Equity Share Capital is held by Trent Limited as at 31st March 2009) (22.55% Equity Share Capital is held by wholly owned subsidiary companies as at 31st March 2009) Westland Limited - Subsidiary Company ( 96.64% Equity Share Capital is held by Landmark Limited as at 31st March 2009) Regent Management Private Limited - Subsidiary Company (100% Equity Share Capital is held by Landmark Limited as at 31st March 2009) Landmark E-Tail Private Limited - Subsidiary Company (100% Equity Share Capital is held by Landmark Limited as at 31st March 2009) Trent Hypermarket Limited - Subsidiary Company. (100% Equity Share Capital is held by Trent Limited as at 31st March 2009) Trent Global Holdings Limited-Subsidiary Company (100% Equity Share Capital is held by Trent Limited as at 31st March 2009) 10. As approved by the shareholders, the Company has transferred its Star Bazaar business, as a going concern, to its 100% subsidiary Trent Hypermarket Limited, with effect from 1st August 2008. 11. The Board of Directors in its meeting held on 17th June 2009 has approved a scheme of amalgamation of Satnam Developers and Finance Private Limited (100 % Subsidiary of the Company) and Satnam Realtors Private Limited (a Joint Venture in which Satnam Developers and Finance Private Limited holds 50% Shares) with the Company with effect from 1st April 2009 subject to requisite approvals. 12. Previous years figures have been regrouped wherever necessary. |
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| Source : Religare Technova | |
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