1.1 The company has issued 17.00 Lacs warrants @ Rs 212.20 /- each to be
converted into equity shares as under :
9.00 Lacs warrants shall be converted into 9.00 Lacs equity shares on
or before 31.03.2014
8.00 Lacs warrants shall be converted into 8.00 Lacs equity shares on
or before 31.03.2013
2.1 Inventories are valued as per method described in significant
3.1 The Company has sent letter of balance confirmation to all the
parties but only a few have responded so far. So the balance in the
party accounts whether in debit or credit are subject to
4.1 Balance with Banks includes Unclaimed Dividend ofRs. 46.85 Lacs
(Previous Year Rs 45.57 Lacs)
4.2 Fixed deposits with banks include deposits of Rs 1.30 Lacs
(Previous year Rs 0.30 Lacs) with the maturity of more than 12 months.
4.3 An amount of Rs 192.65 Lacs (Previous Year Rs 78.44 Lacs) is held
with Banks as margin money for Bank Guarantees/ Letter of Credit
5.1 Other Loans and Advances includes Advances to suppliers , Prepaid
Expenses , Advance Income Tax Et TDS Receivable etc.
As per Accounting Standard 15Employee Benefits, the disclosures as
defined in the Accounting Standard are given below :
The present value of obligation is determined based on actuarial
valuation using the Projected Unit Credit Method , which recognised
each period of service as giving rise to additional unit of employee
benefit entitlement and measures each unit separately to build up the
During the year company has issued 17.00 lacs. Share warrants to Sunev
Pharma Solutions Limited. Allotted 6.00 lacs. Shares on conversion of
already issued 6.00 lacs share warrants. The Company has also allotted
12,894 equity shares to FCCB holders as per the option exercised by
The Company operates only in one business segment viz. Pharmaceutical
Formulation and is engaged in manufacturing and trading of medicines.
Since in the opinion of management, the inherent nature of activities
engaged by the Company are governed by the same set of risks and
rewards, so these have been grouped and identified as a single segment
in accordance with the Accounting Standard on Segment Reporting (AS-17)
issued by ICAI.
During the year, the Company has undertaken a review of all fixed
assets in line with the requirements of AS-28 on Impairment of Assets
issued by the Institute of Chartered Accountant of India. Based on such
review, no provision for impairment is required to be recognised for
Similar to the previous years, the Company has made investments in its
intellectual Property rights wealth, R Et D Equipments and
infrastructure during the current year also. As a result of it, the
Company has been granted patents rights from USA, Japan, South Africa
among others. The company has got the patent award from Phamexcil for
the Financial Year 2011-12. Company''s new REtD product ACHNIL, a once a
day pain killer has been awarded the BIOSPECTRUM PRODUCT OF THE YEAR.
In the opinion of the board, and to the best of their knowledge and
belief, the value on realisation of the current assets, loans Et
advance shown in the Balance Sheet in the ordinary course of business
will be at least equal to the amount at which they are stated in the
Balance Sheet and provision for all known and determined liabilities
has been made.
The figures in the Balance Sheet and Profit Et Loss Account for the
year have been rounded off to nearest lacs.