1. Computation of basic and diluted earnings per share:
Particulars Current Year Previous
Net Profit after tax (in lacs ) 115.06 2.94
Weighted average number of Equity Share 28654700 28049086
Nominal Value per share 10.00 10.00
Basic and Diluted Earnings Per share 0.40 0.01
2. The figures of the previous year have been regrouped wherever
considered necessary to confirm with current year''s presentation. The
figures have been rounded off in Rs. in Lacs.
3. Balance under sundry debtors, other current assets, sundry
creditors, and loans & advances are subject to confirmation and
reconciliation if any.
4. In the opinion of the Management, Current Assets, Loans & Advances
have the value at which they are stated in the balance sheet if
realized in the ordinary course of the business except the balance of
Suvikash alloys and Steel Pvt. Ltd, Cement Corporation of India Ltd.
and Bhadramaruti concast private limited. No Provision has been made
as matter is under court proceedings.
5. In respect of Micro / Small / Medium Enterprises Development Act,
2006, certain disclosure is required to made relating to Micro / Small
/ Medium Enterprises. The company could not get relevant information
from its supplier about their coverage under the Act since the relevant
information is not readily available, no disclosure have been made in
the account. Hence disclosure, if any, relating to amounts unpaid as at
the year end together with interest paid/ payable as required under the
said act have not been made.
6. Details of Employee benefits are given below:-
(a) Defined Contribution Plans:-
During the year the company has recognized the following amount in the
profit & loss Accounts (included in Contribution to provident & other
(b) Defined Benefit Plan:-
Rs.7.90 Lacs (Cumulative figure) has been provided for Gratuity on the
basis of the formula given in point no.16 of Significant Accounting
Policies, only for those employees who have completed continuous five
year service in the enterprise.
Above policy is not matched with calculation prescribed in AS-15
7. Related Party Disclosures :
a. Name of the related parties
Group Companies/ Key Management Relatives of Key
Associates Personnel management Personnel
M/S Kwality Foundry Shri Ravi Vaswani 1.Smt. Sudha Vaswani
C.G.Ispat Pvt. Ltd. Shri Pramod Vaswani 2.Smt. Juhi Vaswani
Cosmos Castings Shri Yaswant Vaswani 3.Smt. Manisha Vaswani
Vaswani Ispat Ltd.
Vaswani Cement Ltd.
Vaswani Energy Ltd.
Shubh Infrastructure Ltd.
8. Valuation & Consumption of inventories has been taken as valued
and certified by the management.
9. There were no employee at any time during the year drawing Rs.
500000/- or more per month.
10. Segment Reporting as required by Accounting Standard (AS-17)
issued by the Institute of Chartered Accountants of India:-
11. Contingent liabilities & Commitments not provided for in respect
(a) Claims against the Company not acknowledged as debt: (Rs. in Lacs)
Particular 2014-15 2013-14
- Sales Tax 75.53 75.53
- Excise Duty 294.55 236.10
- Customs Duty 86.02 0.00
Particular 2014-15 2013-14
Letter of Credit 2572.93 2306.49
(c) Law Suit: South Eastern Coalfields Ltd has lodged case against the
company of which outcome of law suit is unquantifiable, hence no
provision accounted in books.
12. Since the company is engaged in the generation of power from A.Y
2008-09, So the company is entitled to claim the deduction under
section -80IA of Income tax act & the quantum of deduction is 100% of
profit & gains derived from such business for 10 consecutive assessment
years out of 15 years beginning with the year in which enterprises
begins to generate Power. Hence the company is decided to claim the
deduction from A.Y.2013- 14.