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SENSEX NIFTY India | Notes to Account > Miscellaneous > Notes to Account from Mallcom (India) - BSE: 539400, NSE: N.A

Mallcom (India)

BSE: 539400|ISIN: INE389C01015|SECTOR: Miscellaneous
May 20, 16:00
Mallcom (India) is not listed on NSE
Mar 15
Notes to Accounts Year End : Mar '16

1. Terms/rights attached to equity shares

The company has only one class of equity shares having a par value of Rs. 10 per share. Each holder or equity shares is entitled to one vote per share.

In the event of liquidation of the company. the holders of equity share will be entailed to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders. shareholders are entitled for dividend if any declared by the Company. During the year dividend payout of Rs. 2.00(P.Y. Rs.1.50) per equity share of Rs. 10/- each is proposed.

The company has issued 34.20.000 shares as fully paid Bonus Shares since incorporation.

2. Segment Reporting

Based on the & guiding principles given in Accounting Standard on 5egment Reporting. (AS-17.1. the Company''s primary business segment Is Industrial Safely products;. Thy Industrial Safety Products business Incorporate product groups'' viz. Leather hand Gloves. Industrial Work Garments. Seamless Knitted Gloves. Leather Shoe Upper, Safely Shoes and Nitrite Dipped Gloves. which mainly have similar risks and returns. Thus the Company''s business activity falls within 3 single primary business segment.

For The purpose of geographical segments total sales are divided into India and other countries, The following table shows the distribution of the company''s sates by geographical market regardless of where the goods 3re produced:

3. Lease

In case of asset taken on lease :

Operating Lease:

The company has taken certain premises on tease for 3 years to 99 years There are no subleases.

4. Trade Payables includes USD 1,267,929 (INR 82,801,872) Previous Year USD 101.228(INR 6,335,873which is naturally hedged against export receivables.

5. Micro Small and Medium Enterprises

There were no dues outstanding to the suppliers as on 31.03.2016 registered under the Micro. Small and Med um Enterprises Development Act, 2006, to the extent such parties have been identified from the available document/information. No interest in terms. of such Act has. either been paid or provided during the year.

6. In The opinion of the management and lo the best of their knowledge and belief, the value of realization of loans and advances and other current assets in the ordinary cutes of business will nut he less than the amount at which they are stated in the Balance Sheet.

7. During the year, the company has -increase its slake from 32.15$ Id 99.005; in Mallcom VSFT gloves Private Limited.

8. Raw Materials, Chemicals and Packing Materials Consumption

9. Estimated amount of Contracts remaining to tie e-exclude on capital account and not provided for Rs. Nil (Rs 95.15 lakhs).

10. Remittance in Foreign Currency on account of Dividend 10 Non Resident Shareholder

11. The Company has a defined benefit gratuity plan. Every employee ^ho has completed five years or more of service is enticed to Gratuity as per provisions of The Payment to Gratuity Act. 1972. The scheme is funded through approved gratuity trust and is managed by HDFC Stanford Life Insurance Co Ltd.

12. The following tables summaries the components as net benefit expenses recognized in the Statement of Profit & Loss and the funded status and amounts recognized in the balance sheet for the Gratuity.

13. Table Showing Changes in Present Value of Obligations

14. During the year the company has changed its Accounting Policy relating to provision for Leave Encashment and has provided a sum of Rs.32.12 lakhs as per the actuarial valuation report obtained in terms to AS-15. This will have impact of reducing the profit for the year by the equivalent amount.

15. Provisions of Section 135 of the Companies Act. 2013 relating to Corporals. Social Responsibility (CSR) is applicable in case of the company. The Company wa.5 required to incur a minimum amount of Rs.13,72.999 being two percent of average net profits of the company made during the three immediately preceding financial years as calculated as per section 190 of the Companies Act. 2013. The company however plans to contribute the CSR expend tunes at above during the current financial year

16. Previous Year''s figures haw been regrouped/ rearranged wherever considered necessary.

Source : Dion Global Solutions Limited
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