| 1. All the figures in the Financial Statement have been rounded off to
the nearest rupees.
2. Figures of the previous year have been reclassified, regrouped,
aggregated and segregated, wherever necessary, to confirm to the
current year figures.
3. No amount is paid/payable by the Company under Section 441A of the
Companies Act, 1956 (cess on turnover) since the rules specifying the
manner in which the cess shall be paid has not been notified yet by the
Central Government.
4. Balances in debtors, creditors and advances accounts as appearing
in the books of account at the close of relevant accounting year are
subject to external confirmation/ reconciliation after the year end as
per standard accounting practice followed by the Company. In the
opinion of the Board, all the current assets, loans and advances have a
value on realization in the ordinary course of business of a sum at
least equal to the amount at which they are stated in the books of
account.
5. Estimated amount of contracts remaining to be executed on Capital
Account as on March 31, 2015 is Rs. 2,683.93 Lakhs (Previous year:
3,472.41 Lakhs) against which advance of Rs. 2,219.00 Lakhs (Previous
year :Rs. 1,289.86 Lakhs) has been made.
6. Additional information pursuant to the requirements of Schedule III
to the Companies Act, 2013:
7. The Company is engaged in the manufacture and sale (both Domestic &
Exports) of "PET / Plastics Preforms & Containers," on own account and
on account of others which constitutes single business segment. As per
Management perspective the risks and returns from its sales do not
materially vary geographically. Accordingly, there are no other
business / geographical segments to be reported as per Accounting
Standard 17.
8. Pursuant to disclosure requirements of Accounting Standard 18 on
related parties, the following disclosures are given: i. List of
related parties and their relationship
a. Enterprises under common control of the management (EUC)
- Mphinite Technologies Private Limited
- Mphinite Solutions Private Limited
- Manjushree Fincap Private Limited
- Shruti Financial Services Private Limited
- Hitech Creations Private Limited
- Jinvani Trading and Investment Company Private Ltd
- SNT Merchants Private Ltd
- Prapti Vinimay Private Ltd
b. Key Management personnel (KMP)
- Vimal Kedia
- Surendra Kedia
- Rajat Kedia
- Ankit Kedia
c. Relatives of Key Management Personnel (RKMP)
- Savita Kedia (wife of Vimal Kedia)
- Sashi Kedia (wife of Surendra Kedia)
d. List of transactions with related parties
9. Details of future minimum lease payment in respect of
non-cancellable operating lease period as per Accounting Standard 19
issued under the Companies (Accounting Standards) Rules, 2006 is as
follows:
10. In the Management's view there is no impairment to assets as per
Accounting Standard 28 issued. Except Rs. 8.15 lakhs debited to
statement of Profit and Loss.
11. The Company is in the process of obtaining the Cost Audit report
as required under section 148 of The Companies Act, 2013 read with
Companies (Cost Records and Audit) Amendment Rules, 2014.
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