| 1. Terms / rights attached to equity shares
The equity shares of the company having par value of Rs. 10/- per
share, rank pari passu in all respects including entitlement to
dividend. Repayment of the capital in the event of winding of the
Company will inter alia be subject to the provisions of the Companies
Act 1956, the Articles of Association of the Company and as may be
determined by the Company in General Meeting prior to such winding up.
2. Company Information
The Company was incorporated on 29th March, 1995to carry on the
business in the manufacturing, trading in agro based commodities.
3. Earnings per share
Basic earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period. The
weighted average number of equity shares outstanding during the period
is adjusted for events of bonus Issue; bonus element in a rights issue
to existing shareholders; share split; and reverse share split
(consolidation of shares).
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.
Earnings per share are calculated by dividing the net profit after tax
for the year attributable to equity shareholders by the number of
equity shares outstanding on the balance sheet date.
4. Provisions
A provision is recognized when an enterprise 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 escimate required to
settle the obligation at the balance sheet date. These are reviewed at
each balance sheet date and adjusted to reflect the current best
estimates.
5. Contingent liabilities
A contingent liability is a possible obligation that arises from past
events whose existence will be confirmed by the occurrence of
non-occurrence of one or more uncertain future events beyond the
control of the company or a present obligation that is not recognized
because it is not probable that an outflow of resources will be
required to settle the obligation. A contingent liability also arises
in extremely rare cases where there is a liability that cannot be
recognized because it cannot be measured reliably. The company does not
recognize a contingent liability but discloses its existence in the
financial statements.
The contingent liability is Rs. NIL during the financial year.
6. Cash and Cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank
and in hand and short-term investments with an original maturity of
three months or less.
7. Related parties
i) Key management personnel
Name of the personnel Nature of relationship
RambabuKopparapu CEO &Managing Director
ii) Name of the related party
Name of the entity Nature of relation ship
Golden Earth Infracon Entity in which KMP has
Projects Pvt Ltd significant influence
8. Segment Reporting (AS-17):
The Company is in the business of manufacturing, trading in agro based
commodities .As such, there are no such separate reportable business
segments as per Accounting Standards -17 on Segment Reporting issued by
the Institute of Chartered Accountants of India.
9. Previous year's figures are regrouped/ reclassified wherever
considered necessary to confirm to Current year's classifications.
As per our report of even date - | 