| 1. Previous year figures have been re-arranged, reworked, reclassified
or re-grouped wherever necessary to make them comparable with the
current year's figures and others disclosure for the proceeding year
are included as an integral part of the current year financial
statements and are to be read in relation to the amount and others
disclosures relating to the current year.
2. The company provides for gratuity in accordance with the payments
of Gratuity Act,1972,a defined retirement plan (the plan) covering all
employee.
3. Contingent Liability not provided for in respects of : Rs in (Lacs)
Current Year Previous Year
(a) Outstanding balance of Bank
Guarantees Rs 6210.76 Rs 4666.91
(b) Corporate Guarantee Rs 4440.00 *Rs 4440.00
c) Outstanding balance of ILC/FLC Rs 1879.00 ** Rs 5329.00
* Corporate Guarantee issued in favor of Tirupati Aluminium Limited
**Outstanding FLC includes Buyer Credit Against Term Loan
Balance of Unsecured Loans Current Liabilities, Current Assets, Loans
and Advances are subjects to confirmation and reconciliation from the
respective parties. However the management does not expect any material
difference affecting the financial statement for the year.
4. In opinion of the Board of Directors, the Current Assets. Loans and
Advances have a value on realization in the ordinary course of business
at least equal to the amount at which they are stated in the Balance
Sheet.
5. Estimated amount of Contracts remaining to be executed on Capital
Account and not provided for net of advances Rs 91.60 Lacs(Previous
Year Rs 91.60 Lacs)
6. During the year, the Company has accounted for Deferred Tax
Liability/assets in accordance with the Accounting Standard-22
"Accounting for Taxes on Income" issued by the Council of the Institute
of Chartered Accountants of India.
7. Segment Reporting Primary Segment
Based on the guiding principle given in the Accounting Standard-17
"Segment Reporting" issued by the institute of Chartered Accountants of
India, The Company's primary segment are Pipes & Fitting, Irrigation
System, ACC & ACP Sheets and Trading in Polymers & Aluminum Etc.
The above business segment have been identified considering:
I. The Nature of the products
II. The related risks and returns.
III. The internal financial reporting systems
B. Secondary Segment
The Company caters mainly to the needs of Northern Markets 10.Related
Party Disclosure
Disclosure as required by the Accounting Standards 18 " Related
Disclosure" are given below: a) List of Related Parties:
Associated Companies
S. Name of the Address Relationship
No Related Party
1. Chemiplast Industries 55-57,Industrial Associate Concern
Area, Sector-1,
Parwanoo
2. Tirupati Aluminium 44/1,Pipli Wala Town, Associate Company
Limted Mani Majra,Chandigarh
Key management personnel and Relative:
1 Sh. M.L Gupta 2. Sh. Ramesh Gupta 3. Sh. Amit Gupta
8.Earning Per Share
In determining earning per share , the company considers the net profit
after tax for the year attributable to equity shareholders. The Numbers
of share is the weighted average number of share outstanding during the
year. The numbers of share used in computing diluted earning per share
comprise the weighted average per share considered for deriving basic
earning per share, & also the weighted average numbers of share which
could have been issued on the conversion of dilutive potential share,
Disclosures as required by AS(20) is given as under:-
9. Disclosure as required under Accounting Standard-19"Accounting for
Lease " as Prescribed under Companies (Accounting Standards) Rule 2006:
The Company has not entered into any fresh operating leasing agreement
during the year Current Financial Year.
10. Disclosure under Micro, Small, and Medium Enterprises Development
Act,2006
The management of the Company has shown its inability to indentify the
creditors which micro and small enterprises. So due to the known
availability to relevant information and by accepting this
representation of the management it is impracticable to provide the
requisite information.
11. Expenditure on employee in receipt of remuneration of not less
than Rs. 60,00,000/- per annum, if employed through out the year or
5,00,000/- per month Nil when employed for the part of the year.
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