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Moneycontrol.com India | Notes to Account > Electric Equipment > Notes to Account from Emco - BSE: 504008, NSE: EMCO
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Emco

BSE: 504008|NSE: EMCO|ISIN: INE078A01026|SECTOR: Electric Equipment
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Mar 15
Notes to Accounts Year End : Mar '16

1. Company has made Investment and loans aggregating to Rs,9,919.64 Lacs into its wholly owned subsidiary EMCO Power Limited, which is setting up power projects in the state of Chhattisgarh and Odisha through joint venture companies. Said Investment has been utilized towards project development expenditure like feasibility studies, acquisition of land, allocation of water, EIA studies and other pre-operative expenses. The work on these projects has been temporarily suspended by the management due to unfavorable economic scenario and uncertainties, especially in power sector. Looking at the stage of the project, management is of view that impairment of investment and loan aggregating to Rs,9,919.64 Lacs is not necessary.

2. The company has opted to avail the choice provided under paragraph 46A of AS 11: Accounting for the effects of changes in the foreign exchange rates as amended by notification no.: G.S.R. 914(E) dated 29th December 2011. Accordingly, the foreign exchange difference on long term foreign currency monetary items relating to depreciable assets, is adjusted in carrying cost of depreciable assets.

3 RELATED PARTY DISCLOSURE AS PER ACCOUNTING STANDARD - 18 A List of Related Parties over which control exists (i) Subsidiaries

EMCO Power Limited EMCO Renewable Energy Limited EMCO Infrastructure Limited EMCO Transmission Networks Limited EMCO Overseas Pte. Limited PT Setenco Investa Niaga

Shekhawati Transmission Service Company Limited EMCO Global DMCC (Incorporated on 21.01.2016)

B Name of the associates and joint ventures with whom transactions were carried out during the year

(i) Joint Ventures

PT Vardhaman Logistics PT Vardhaman Mining Services Rabaan (s) Pte. Limited.

Shyam EMCO Infrastructure Limited Kalinga Energy & Power Limited PT Bina Insan Sukses Mandiri

(ii) Association of Persons

Arki Aviation

4 Company has incurred total expenditure of Rs,184.76 Lakhs (Rs,78.79 Lakhs) on Research and Development activities.

5 The Company has only one reportable segment, i.e. Transmission and Distribution Segment within Power Sector.

6 The figure for the corresponding previous year have been restated / regrouped where ever necessary to make them comparable with the current period.

7 Balances of Trade Receivable, Trade Payable, Loans and Advances and other balances are as per books of account and subject to confirmation and reconciliation, if any. In the opinion of the management balances shown under Sundry Debtors, Accrued value of work done and Loans and Advances have approximately the same realizable value as shown in the accounts.

8 The company''s normal operating cycle in respect of operations relating to the Sub-station and Transmission Line may vary from project to project depending upon the size of the project, type of project, project complexities and related approvals. Operating cycle for all other business is based on twelve months period. Assets and liabilities have been classified into current and non-current based on the operating cycle of respective businesses.

9. As per Section 135 of the Companies Act 2013, out of total expenditure of Rs,14.79 Lakhs which was to be incurred on corporate social responsibility activity, the company has spent Rs,19.83 Lakhs during the year.

Source : Dion Global Solutions Limited
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