| Note 01 CORPORATE INFORMATION
Kamron Laboratories Limited (the Company) is a public limited company
domiciled in India and incorporated under the provisions of the
Companies Act, 1956. Its shares are listed on BSE Limited, Ahmedabad
Stock Exchange Limited and Delhi Stock Exchange Limited. The Company
was established in 1988, Kamron Laboratories Ltd has a high-tech
Pharmaceutical manufacturing Plant.
A. 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 equity shareholder is entitled to one vote per
share. The Company declares and pays dividends in Indian rupees. The
dividend if any proposed by the Board of directors is subject to the
approval of the shareholders in the ensuing Annual General Meeting.
During the year ended 31st March 2015, the amount of dividend, per
share, recognized as distributions to equity shareholders is Rs. Nil
(year ended 31st March, 2014, Rs. Nil).
1. Certain Fixed Assets of the Company viz the Plant & Machinery, Land,
Factory Building and Non- factory Building were revalued during the
year ended 31st March, 1998 on the basis of their replacement value as
of 31st March,1998 determined by the approved valuer and the surplus
arising on such revaluation amounting to Rs.1,43,62,580/-in the
accounts of the Company have been credited to the revaluation reserve
and the said fixed assets have been shown at revalued figures.
1. The company during the year ended 31st March 2014 had adopted
programme of substantial expansion of marketing. The company had
introduced certain new products and had also entered into certain new
regional areas. The company with a view to expanding the regional
market and with a view to introducing new products had expended
substantially on salary of marketing staff, allowances of marketing
staff, commission, traveling of marketing staff. The management of the
company is of the view that the company shall continue to enjoy
benefits of the expenses for the subsequent years and therefore on
basis of appraisal of the expenses and considering the enduring nature
of the expenses the company had transferred the aggregate expenses i.e.
Rs. Nil (Previous Year Rs. 94,78,145/-) to Deferred Revenue
Expenditure. The management of the company is of the opinion that the
company shall be able to enjoy the benefits for the next ten years and
therefore the company has decided to amortize expenditure at the rate
of 10% per annum commencing from financial year 2014-15
Note 2 EMPLOYEE BENEFITS:
Contributions are made to Recognized Provident Fund / Government
Provident Fund and Family Pension Fund which covers all regular
employees. Contribution is also made in respect of executives to a
Recognized Superannuation Fund. While both the employees and the
Company make predetermined contributions to the Provident Fund,
contribution to the Family Pension Fund and Superannuation Fund are
made only by the Company. The contributions are normally based on a
certain proportion of the employee's salary. Amount recognized as
expense in respect of these defined contribution plans, aggregate to
Rs.788232/- (previous year, Rs. 798470/-).
Provisions are made to in respect of gratuity based upon actuarial
valuation done at the end of every financial year by the management of
the company. Major drivers in actuarial assumptions, typically, are
years of service and employee compensation. Gains and losses on changes
in actuarial assumptions are accounted for in the Statement of Profit
and Loss.
The charge on account of provision for gratuity and leave encashment
has been included in 'Contribution to provident fund and other funds'
and 'Salaries, wages and bonus' respectively.
Note 3 LEASES
(a) The Company has taken office, under operating lease or leave and
license agreement. The agreement is generally cancelable in nature and
range between 11 months and 48 months. The leave and license agreement
is generally renewable or cancelable at the option of the Company or
the lessor. The lease payment recognised in the Statement of profit
and loss is Rs. Nil (previous year Rs. 1,20,000/-).
Note 4 SEGMENT INFORMATION
Primary
The Company is engaged primarily in business of manufacturing
pharmaceutical products.
As at As at
31st March, 2015 31st March, 2014
Note 5 CONTINGENT LIABILITIES
In respect of:
a. Excise matters disputed in appeal: 826339 826339
These relate to the availed value based
exemption up to clearance value of Rs.100
Lacs (pending before the Commissioner
(Appeals-III) central excise.Commissioner)
and permit fee on purchase of alcohol
b. Claims against the Company not
acknowledged as debts - -
Labour matters involving issues like
regularization of employment,
termination of employment, compensation
against severance, etc.
c. Sales-tax matters disputed in appeal. 11032991 11032991
These relate to classification of goods and consequent dispute ex parte
order 2006-07 (pending before the Commercial Tax Commissioner
Gandhinagar)
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