KOUTONS RETAIL INDIA LIMITED
ANNUAL REPORT 2009-2010
NOTES ON ACCOUNTS
A. SIGNIFICANT ACCOUNTING POLICIES:
(a) BASIS OF PREPARATION:
The Financial statements have been prepared under the historical cost
convention and in accordance with applicable Accounting Standards issued by
the Institute of Chartered Accountants of India and relevant disclosure
requirements of Companies Act, 1956 as adopted consistently by the Company.
The accounting policies have been consistently applied by the company & are
consistent with those used in the previous year.
(b) Uses of estimates
The preparation of financial statements requires the management of the
company to make estimates and assumptions that affect the reported balances
of assets and liabilities and disclosures relating to the contingent
liabilities as at the date of the financial statements and reported amounts
of income and expenses during the year. Example of such estimates include
provisions for employee benefits, provision for income taxes, and the
expected useful life of fixed assets.
(c) FIXED ASSETS & DEPRECIATION:
FIXED ASSETS:
Fixed Assets are stated at the cost of acquisition/installation less
accumulated depreciation and include directly attributable cost including
installation and freight charges for bringing the assets to its working
conditions for its intended use.
DEPRECIATION:
Depreciation on fixed assets is provided on WDV method at the rate
prescribed under schedule XIV of the Companies Act, 1956. Proportionate
depreciation is charged for additions/deletions during the year. Individual
asset costing less than Rs. 5,000/- are depreciated in full in the year of
purchase.
(d) IMPAIRMENT OF ASSETS:
The management reviews the carrying amounts of assets at each Balance Sheet
date for any indication of impairment based on internal/external factors in
accordance with Accounting Standard 28 'Impairment of Assets'. An asset is
treated as impaired when the carrying cost of the assets exceed its
recoverable value. An impairment loss, if any, is charged to the Profit and
Loss Account in the year, in which an asset is identified as impaired.
(e) INVESTMENTS:
Investments that are readily realizable and intended to be held for not
more than a year are classified as current investments. All other
investments are classified as long term investments. Current investments
are carried at lower of cost and fair value on an individual investment
basis. Long term investments are carried at cost. Provision for diminution
in the value of long term investment is made only if such a decline is
other than temporary in the opinion of the management.
(f) INVENTORIES:
Raw materials, consumables, stores and spares are valued at lower of cost
and net realisable value as certified by the management.
Work-in-Progress is valued at direct raw material cost and appropriate cost
of completed process.
Finished goods are valued at lower of cost and net realisable value as
certified by the management. Finished goods include cost of conversion and
other costs incurred in bringing the inventories to their present location
and condition.
Cost of inventories is computed on FIFO basis. Net realisable value is the
estimated selling price in the ordinary course of business, less estimated
costs of completion and to make the sale.
(g) REVENUE RECOGNITION:
Revenue is recognised to the extent that it is probable that the economic
benefits will flow to the Company and the revenue can be reliably measured.
i. SALE OF GOODS:
(a) Consignment Sales: Revenue is recognised when consignee agents make the
sales. Sales are recorded at net realisable value i.e. net of all discounts
& sales tax.
(b) Direct Sales: Revenue is recognised when goods are delivered which
coincide with risk and rewards of ownership of goods have been passed to
buyer.
ii. INTEREST:
Revenue is recognised on a time proportion basis taking into account the
amount outstanding and the rate applicable.
(h) FOREIGN CURRENCY TRANSACTIONS:
a) Initial Recognition:
Foreign currency transactions are recorded in the reporting currency, by
applying to the foreign currency amount the exchange rate between the
reporting currency and the foreign currency at the date of the transaction.
b) Conversion:
Foreign currency monetary items are reported using the closing rate of
exchange at the end of the year. Non monetary items, like fixed assets are
carried in terms of historical cost using the exchange rate at the date of
the transaction.
c) Exchange Differences
i) Any gain or losses on account of exchange difference either on
settlement or on translation is recognized in the Profit and Loss Account
except in cases where they relate to the acquisition of fixed assets in
which case they are adjusted to the carrying cost of such assets.
ii) Foreign currency assets & liabilities are translated at the year end
rates and resultants gains / losses on foreign exchange transaction other
than those relating to fixed assets are recognized in the profit and loss
account.
iii) Non-monetary foreign currency items are carried at cost.
(i) TAXATION:
Income tax expense comprises of current tax and deferred tax charge or
credit.
Provision for current tax is made on the basis of estimated taxable income
for the current accounting year in accordance with the provisions of Income
Tax Act, 1961 as applicable to the relevant assessment year.
The deferred tax asset and deferred tax liability is calculated by applying
tax rate and tax laws that have been enacted or substantively enacted by
the Balance Sheet Date. Deferred tax assets arising from timing differences
are recognised, subject to consideration of prudence, to the extent there
is reasonable certainty that these would be realised in future. At each
Balance Sheet date, the carrying amount of deferred tax assets is reviewed
to reassure realisation.
(j) EMPLOYEE RETIREMENT BENEFITS:
i. DEFINED CONTRIBUTION PLAN:
The Company makes defined contribution to Provident Fund, which are
recognised in the Profit and Loss Account on accrual basis.
ii. DEFINED BENEFIT PLAN
i) The Company's liability under Payment of Gratuity Act is determined on
the basis of actuarial valuation made at the end of financial year and
accounted for on accrual basis.
ii) Provision for leave entitlement is accrued and provided for at the end
of the financial year but the same is not being determined on actuarial
valuation basis.
(k) BORROWING COSTS:
Borrowing costs that are attributable to the acquisition or construction of
qualified assets are, capitalised as a part of the cost of such assets up
to the date when such assets are ready for its intended use. A qualifying
asset is one that necessarily takes substantial period of time to get ready
for intended use. All other borrowing costs are charged to revenue. However
during the current financial year no borrowing cost has been capitalized.
(l) OPERATING LEASES:
The Company takes premises for it's showroom/godown for various duration
Lease/License period with Lock-in-period of One to Three Years. Escalation
Clause is variable between 5% to 15% after every three years and 30-45 days
rent free time is taken from the date of possession given by the landlord.
(m) CASH FLOW STATEMENT:
The cash flow statement is prepared by the indirect method set out in
Accounting Standard 3 on cash flow statements and presents the cash flows
By Operating, Investing and Financing activities of the company. Cash and
cash equivalents presented in cash flow statement consists of cash in hand,
cheques in hand, bank balances & demand deposits with Banks.
(n) MISCELLANEOUS EXPENSES:
i. PRELIMINARY EXPENSES
The expenses incurred on formation of Company are amortised over a period
of 10 years.
ii. DEFERRED REVENUE EXPENDITURE:
Expenditure incurred on factory license fees, Trade mark fee and rental
paid for pre commencement of retail stores, factories are treated as
Deferred revenue Expenditure and are amortised over the life period of
concerned item in accordance with the AS 26(Intangible Assets) issued by
the ICAI.
(o) PROVISIONS:
A provision is recognised when the Company has a present obligation as a
result of past event; it is probable that an outflow of resources will be
required to settle the obligation, in respect of which a reliable estimate
can be made. Provisions are not discounted to its present value and are
determined based on best estimate required to settle the obligation at each
balance sheet date. These are reviewed at each balance sheet date and
adjusted to reflect the current best estimate.
B. NOTES ON ACCOUNTS:
1. In the opinion of the Board of Directors of the company and to the best
of their knowledge and belief the realisable value of current assets, loans
& advances if realised in the ordinary course of business will not be less
than the amount at which they are stated in the Balance Sheet as at 31st
March, 2010.
2. Balance from some of the sundry debtors, sundry creditors and loans &
advances are subject to confirmation and reconciliation.
3. The name of the Micro, Small and Medium Enterprises suppliers defined
under the 'The Micro Small and Medium Enterprises Development Act, 2006'
could not be identified, as the necessary information is not in the
possession of the Company.
4. The Company had made investment of Rs. 1.95 crore in the share capital
of DBG Retail Holdings Ltd., a wholly owned subsidiary company in F.Y.2007-
08. In view of the long term investment of the company in the said company,
a provision equal to the accumulated losses in the wholly owned subsidiary
company has been made in the books of accounts.
5. The Company had raised Rs. 10,822.77 Lacs through a public issue of
equity shares during the financial year 2007-08 and whole amount of the
proceeds are utilized as per object of the issue.
6. Term loan secured against hypothecation of machinery and collateral
security of immovable properties registered in the name of company and
directors & their wives and personal guarantees of directors and their
wives are Rs.240.44 Lacs & Rs.602.59 Lacs for the year ended on 31.03.10 &
31.03.09 respectively.
Term loan secured against hypothecation of car are Rs.45.91 Lacs & Rs.57.40
Lacs for the year ended on 31.03.10 & 31.03.09 respectively.
Term loan secured against hypothecation of Retail Commercial Outlets are
Rs.178.91 Lacs & Rs.186.64 Lacs for the year ended on 31.03.10 & 31.03.09
respectively.
Working Capital Loans from Banks are secured against hypothecation of
inventories and collateral security of immovable properties registered in
the name of company and directors & their wives and personal guarantees of
directors and their wives.
The company has NCD which, with 10.15% redeemable at Par on 6/04/2009 for
Rs 5000 lacs (Balances as on 31-03-2010 Rs 3356.45 lacs ) and 13.00%
redeemable at Par on 16/07/2009 for Rs 5000 lacs (Balance as on 31-03-2010
Rs 4800 lacs ), are secured by post dated cheques for Principal and
Interest and further secured by charge on land in Gujrat.
7. The Company has taken certain office premises, showrooms and retail
commercial outlets on non-cancellable operating lease. The future minimum
lease rentals payable at the Balance Sheet date, in respect of the non-
cancellable operating lease, are as follows:
7. The Company has taken certain office premises, showrooms and retail
commercial outlets on non-cancellable operating lease. The future minimum
lease rentals payable at the Balance Sheet date, in respect of the
noncancellable operating lease, are as follows:
Rs. in Lacs
As at 31.03.10 As at 31.03.09
For a period not later than one year 3,672.25 4,691.09
For a period later than one year and
not later than five years 2,332.33 2,782.83
For a period later than five years - -
8. The company could not fully redeem the debentures on due dates and has
asked the Debenture holder for reschedulement of repayment dates which is
pending their consideration. Meanwhile the interest rate on 10.15% NCD has
been revised to 13.50%.
9. SEGMENT REPORTING
i. Primary- Business Segment:
In accordance with the requirements of Accounting Standard 17 'Segment
Reporting' issued by the ICAI, the Company's business consists of multiple
segments like Manufacturing, Trading and Selling of Textile products,
Accessories and Shoes. But the separate disclosure under the Accounting
Standard 17 is not applicable.
ii. Secondary- Geographical Segment:
Secondary Segment Reporting is performed on the basis of geographical
location of the customers. The operation of the Company comprises local
sales only in the current year. Hence no separate disclosure pertaining to
attributable Revenues, profits, assets, Liabilities and Capital employed
are given. 10. During the year the company has settled some of its
creditors assignment of its receivables with mutual consent.
11. Detail of Deferred Tax Liabilities/Assets is as below:
Rs. in Lacs
Deferred Tax Liabilities on account of: As at As at
31.03.10 31.03.09
Depreciation - 43.75
Preliminary & Deferred Exp. 0.11 0.11
Expenses allowed u/s 40(a)(ia) - 5.95
Total 0.11 49.81
Deferred Tax Assets on account of: As at As at
31.03.10 31.03.09
Depreciation 34.50 -
Retirements Benefits 8.55 2.85
Total 43.05 2.85
Deferred Tax Liabilities/(Assets) (Net) (42.94) 46.96
12. EARNINGS PER SHARE:
Basic earnings per share are calculated by dividing the net profit or loss
for the period attributable to equity shareholders by weighted average
number of equity shares outstanding during the period. The weighted average
numbers of equity shares outstanding during the period are adjusted for the
events of bonus issue, if any. For the purpose of calculating diluted
earnings per share, the net profit or loss for the period attributable to
equity shareholders and the weighted average number of shares outstanding
during the period are adjusted for the effects of all dilutive potential
equity shares.
As at As at
31.03.10 31.03.09
i) Net Profit available for Equity
Shareholders (In Lacs) 8,179.97 7,955.71
Opening No. of Shares (In Lacs) 305.51 305.51
Closing No. of Shares (In Lacs) 305.51 305.51
ii) Weighted average number of equity
Shares Outstanding for calculation of
Basic EPS (In Lacs) 305.51 305.51
Basic EPS (Rs.) (i)/ (ii) 26.77 26.04
Effect of Dilutive Securities:
Conversion of Share application
Money (In Lacs) - -
iii) Weighted average number of Equity
Shares Outstanding for calculation of
Diluted EPS(In Lacs) 305.51 305.51
Diluted EPS (Rs.) (i)/ (iii) 26.77 26.04
13. Disclosure pursuant to Accounting Standard-15(Revised) 'Employee
Benefits'
(i) DETAILS OF DEFINED CONTRIBUTION PLAN:
The Company has recognized Rs.31.64 lacs (Previous year Rs.32.02 lacs) as
provident fund in the Profit & Loss Account for the year ended 31st March
2010 under Defined Contribution Plans.
(ii) DETAILS OF DEFINED BENEFIT PLAN:
(a) GRATUITY:
The company makes annual contribution to the employees' group-cum life
assurance scheme of the Life Insurance Corporation of India, a funded
defined benefit plan for qualifying employees. The scheme provides for
lumsum payment to vested employees at retirement, death while in employment
or on termination of employment of an amount equivalent to 15 days salary
for service more than 5 years, payable for each completed year of service
or part thereof in excess of 6 months. Vesting occurs upon completion of 5
years of service.
The present value of the defined benefit obligation and the related current
service cost were measured using the Projected unit credit method, with
actuarial valuations being carried out at each balance sheet date.
Rs. in lacs
As at As at
31.03.10 31.03.09
1. Components of Employer Expense
Current Service Cost 20.91 29.00
Interest Cost 4.08 3.50
Expected Return on Plan Assets (6.88) (4.59)
Actuarial (Gain)/Loss (23.78) (25.20)
Total expense/(gain)recognized In the
Profit & Loss Account (5.66) 2.71
2. Net Asset/(Liability) recognized in
Balance Sheet
Present Value of Obligation as at 52.27 51.05
Fair Value of Plan Assets as at 83.42 54.72
Asset/(Liability) recognized in the
Balance Sheet 31.15 3.67
3. Change in Defined Benefit Obligation
During the year ended as on 31.03.10
Present Value of Obligation as at 51.05 43.75
Current Service Cost 20.91 29.00
Interest Cost 4.08 3.50
Actuarial (Gain)/Loss (23.78) (25.20)
Benefits paid - -
Present Value of Obligation as at 52.27 51.05
4. Change in the Fair value of Plan Assets
Fair Value of Plan Assets as at 54.72 50.13
Expected Return on Plan assets 6.88 4.59
Actuarial Gain/(Loss) 0 -
Actual Company Contribution 21.82 -
Benefits Paid 0 -
Fair Value of Plan assets as at 83.42 54.72
5. Actuarial Assumptions
Discount Rate (per annum) 8% 8%
Expected Rate of Return on Assets (per annum) 9.15% 9.15%
Salary Escalation Rate* 6% 6%
*takes into account the inflation, seniority, promotions and other relevant
factors
(b) LEAVE ENCASHMENT:
Provision for leave entitlement is accrued and provided for at the end of
the financial year but the same is not being determined on actuarial
valuation basis.
14. Capital work-in-progress include a sum of Rs. 156.84 lacs being advance
paid to a real estate developer against purchase of immovable property
which the Developer has given notice for forfeiture and company is
contesting. In view of the fact that the Developer had failed to acquire
land and\or achieve desired milestones justifying the withholding of
further payments by Company as also further negotiations with the
Developer, the amount is considered good for recovery.
15. Details of Statutory Auditors' Remuneration
Rs. in lacs
As at 31.03.10 As at 31.03.09
Audit Fees 13.24 10.00
For Taxation Matters 4.41 7.00
For Certification Work 2.21 3.19
Total 19.86 20.19
16. Contingent liabilities not provided for:
Rs. in lacs
Particulars As at 31.03.10 As at 31.03.09
i) Bank Guarantee O/S 12.58 91.60
ii) Claims against the company not
acknowledged as debts in respect of
past disputed liabilities of sales tax 93.80 93.80
iii) Landlords Mr Jai Kishan Chikara & others has filed civil suit for
recovery amounting to Rs 20.00 lacs* against the company.
iv) Various workmen have filed 4 labour cases against the Company and the
same are pending before different authorities as on 31.03.10
v) State government of U.P. has filed a case against the company and same
are pending before Commissioner (Stamp) Meerut as on 31.03.2010.
* Based on the discussions with the solicitor/ legal opinion taken, the
management believes that company has strong chance of success in the above
mentioned cases and hence no provision against is considered necessary.
17. Related Party Disclosure
As per Accounting Standard 18, issued by The Institute of Chartered
Accountants of India, the disclosures of transactions with related parties
for the year ended 31st march, 2010 as defined in Accounting Standard are
given as below:
List of Related Parties:
a) Key Management Personnel
MR. D.P.S. KOHLI Chairman
MR. BHUPINDER SINGH SAWHNEY Managing Director
MR. GURMEET SINGH SAWHNEY Whole-time Director
MR. KAILASH CHAND SHARMA Whole-time Director
b) Relatives of Key Management Personnel:
NAME OF RELATIVES RELATION WITH KEY MANAGEMENT PERSONNEL
MR. BASANT SINGH SAWHNEY Father of Mr. BHUPINDER SINGH SAWHNEY &
Mr. GURMEET SINGH SAWHNEY
MR. BANPREET SINGH KOHLI Son of Mr. D.P.S. KOHLI
MR. PRABHJOT SINGH SAWHNEY Son of Mr. BHUPINDER SINGH SAWHNEY
MRS. SATINDER KAUR Wife of Mr. BHUPINDER SINGH SAWHNEY
MRS. AMARJIT KAUR Wife of Mr. D.P.S. KOHLI
MRS. PARVINDER KAUR Wife of Mr. GURMEET SINGH SAWHNEY
MR. JASKARAN SINGH SAWHNEY Son of Mr. BHUPINDER SINGH SAWHNEY
MRS. GURBANI KAUR Daughter in Law of Mr. BHUPINDER SINGH
SAWHNEY
c) Wholly Owned Subsidiary Company:
i) DBG Retail Holdings Ltd.
d) Companies under the same Management:
i) Klone Infrastructure Private Ltd.
ii) K & S Knitwears Private Ltd.
iii) PBP Marketing private Ltd.
iv) Klone Avinash Infrastructure Private Ltd.
v) Gartex Concept Clothings Ltd.
vi) Venezia Leathers Pvt. Ltd.
vii) S.R. Resorts Pvt. Ltd.
viii) JEG Hospitality Holdings Ltd.
ix) Vian Hospitality Pvt. Ltd.
Related Party Transactions
Rs. in Lacs
Particulars KMP Relatives Subsidiary Associates Total
of KMP Company Enterprise
Sales - - - 10.24 10.24
(-) (-) (-) (-) (-)
Purchases - - - 110.22 110.22
(-) (-) (-) (331.20) (331.20)
Rent Paid - 223.00 - 4.50 227.50
(-) (225.63) (-) (-) (225.63)
Job Work - - - 1897.49 1897.49
(-) (-) (-) (3280.04) (3280.04)
Advertisement - - - 24.75 24.75
(-) (-) (-) (-) (-)
Sales Promotion - - - 1.55 1.55
(-) (-) (-) (-) (-)
Asset Sold - - - - -
(-) (-) (-) (0.46) (0.46)
Remuneration 723.60 37.23 - - 760.83
(543.60) (30.20) - - (573.80)
Loans & Advances - - - - -
granted (-) (-) (25.00) (-) (25.00)
Loans & Advances - 6018.63 - - 6018.63
taken (-) (4302.00) (-) (-) (4302.00)
Loans & Advances - 6252.62 - - 6252.62
repaid (-) (5998.10) (-) (-) (5998.10)
Security deposit - - 100.00 - 100.00
Received (-) (-) (-) (-) (-)
Investment in
shares outstanding - - 195.00 - 195.00
as on 31.03.10 (-) (-) (195.00) (-) (195.00)
Loans & Advances
granted outstanding - - 40.00 - 40.00
as on 31.03.10 (-) (-) (40.00) (-) (40.00)
Loans & Advances
taken Outstanding - 15.39 - - 15.39
as on 31.03.10 (-) (249.38) (-) (-) (249.38)
Security deposit
paid outstanding - 138.96 - - 138.96
as on 31.03.10 (-) (138.96) (-) (-) (138.96)
Security deposit
Received
outstanding as - - 100.00 - 100.00
on 31.03.10 (-) (-) (-) (-) (-)
Sundry Creditors
outstanding as
on 31.03.10 - 37.58 - 1106.74 1144.32
(-) (-) (-) (847.25) (847.25)
*Figures in brackets relate to the previous year 2008-09.
**Related parties are as disclosed by the management and relied upon by the
Auditors.
18. Managerial remuneration:
(i) PARTICULARS OF REMUNERATION AND OTHER BENEFITS PROVIDED TO DIRECTORS
FOR THE YEAR ENDED 31ST MARCH, 2010 AND 2009 ARE SET OUT BELOW:
Rs. in lacs
As at 31.03.10 As at 31.03.09
Salary & Bonus 404.80 303.41
Allowances 313.49 215.94
Perquisites 2.72 21.66
Contribution to Provident Fund 2.59 2.59
Total 723.60 543.60
Sitting Fees to non executive directors 1.95 2.15
Total 725.55 545.75
*The figures do not include gratuity payable to the directors, as the same
was actuarially determined for the Company as a whole.
(ii) COMPUTATION OF MANAGERIAL REMUNERATION U/S 198 OF THE COMPANIES ACT,
1956.
Rs. in lacs
As at 31.03.10 As at 31.03.09
Profit before tax before extraordinary
Items as per P&L A/c 12,451.83 12,082.85
Add:
(a) Directors Remuneration 723.60 543.60
(b) Loss on sale of Investments 5.20 6.75
(c) Depreciation charged to accounts 1,643.38 1,530.03
14,824.01 14,163.24
Less:
(a) Profit on sale of Investments - 45.32
(b) Depreciation as per Section 350
of the Companies Act,1956 1,643.38 1,530.03
Net Profit as per section 198 of
the Companies Act, 1956 13,180.63 12,587.89
Maximum permissible remuneration
to whole-time directors u/s 198
of the Companies Act, 1956 @10% of
the Profits as computed above 1,318.06 1,258.79
Restricted as per shareholders'
approval 720.00 540.00
Maximum permissible managerial
remuneration to non-executive
directors u/s 309 of the
Companies Act, 1956 @1% of the
Profits as computed above 131.81 125.88
Restricted as per service
agreement 3.60 3.60
19. The Break-up of the expenditures on Employee getting remuneration:
Particular As at 31.03.10 As at 31.03.09
No. of Salary paid No. of Salary paid
Employees in lacs. Employees in lacs.
Not less than
Rs. 24.00 lacs p.a. 2 54.00 2 54.00
Not less than
Rs. 2.00 lacs p.m. - - - -
20. INFORMATION PURSUANT TO PARAS 3 & 4 AND OF PART II OF SCHEDULE VI OF
THE COMPANIS ACT 1956 AS CERTIFIED BY MANAGEMENT:
(a) Particulars of capacity and production
Figures in lacs
Particulars Installed Capacity Actual Production
(per annum) (Pcs.)
As at Year ending
31.03.2010 31.03.2009 31.03.2010 31.03.2009
Garments 350.00 350.00 220.28 219.26
* Installed Capacity of the company is only indicative as it depends on
product mix and level of outsourcing. Installed capacity is as certified by
the management and have not been verified by the auditor as a technical
matter.
(b) Particulars of stocks, Purchase and sales
I) Ready Made Garments
Particulars Quantity (Pcs in lacs) Value (Rs in lacs)
Opening stock 212.67 49645.09
Closing stock 181.03 47539.64
Purchases 50.94 18930.77
(115.50) (28418.89)
Sale 302.84 120151.65
(267.53) (104600.18)
II) Leather Goods
Particulars Quantity (Pcs in lacs) Value (Rs in lacs)
Opening stock 0.34 196.13
Closing stock 0.32 92.46
Purchases 0.34 106.90
(0.43) (213.00)
Sale 0.38 224.66
(0.09) (68.23)
* (The company is manufacturing a range of men's wear / ladies wear hence
not possible to give details of each and every items in quantitative
terms.)
** Figures in bracket are of previous year 2008-09
(c) Particulars of raw materials consumed:
As at 31.03.10 As at 31.03.09
Quantity Value Quantity Value
(Mtrs in Lacs) (Rs. in Lacs) (Mtrs in Lacs) (Rs. in Lacs)
Fabric 267.60 21855.44 289.10 22204.61
(d) Value of Imported and indigenous Raw Material and packing Material:
Rs. in lacs
Indigenous Imported Total
1. Raw Materials 21182.32 - 21182.32
(22757.23) - (22757.23)
2. Finished Goods 19037.67 - 19037.67
(28412.56) (219.33) (28631.89)
3. Consumable Stores 2732.50 36.83 2769.33
(2834.23) (18.62) (2852.85)
4. Packing Materials 3007.18 - 3007.18
(3406.37) (4.99) (3411.36)
5. Spare Parts 104.98 - 104.98
(68.02) (-) (68.02)
Percentage 99.92 0.08 100.00
(99.58) (0.42) (100.00)
**Figures in bracket are of previous year 2008-09
(e) Foreign Exchange Earning and Outgoing
Rs. in lacs
2009-10 2008-09
(Rs. in lacs) (Rs. in lacs)
A) Imports on CIF basis
i) Finished Goods - 219.33
ii) Consumable 36.83 18.62
iii) Capital Goods - 840.08
iv) Packing Material - 4.99
B) Expenditure in foreign
Currency (foreign traveling
director & others) 36.08 48.39
C) Dividend paid to Non- resident
Share Holders 54.79 -
No. Of Non-Resident Share Holders 214 -
D) Earning in Foreign Currency - -
21. The figures of the previous year are regrouped /reclassified wherever
necessary to make them comparable with that of the current year.
As per our attached report of even date
For R.CHADHA & ASSOCIATES On Behalf of the Board of Directors
Chartered Accountants
RAKESH CHADHA DPS KOHLI BHUPINDER SINGH SAWHNEY
Partner Chairman Managing Director
No. 83135
Place: New Delhi POONAM CHAHAL AJAY MAHAJAN
Date: 04/09/2010 Company Secretary Chief Financial Officer
|