| 1. SHARE CAPITAL
There has been no movement in the Share Capital during the year.
The Company has only one class of equity shares having a par value of
Rs. 10/- per share. Each holder of equity share is entitled to one vote
per share. ln the event of liquidation, the shareholders are eligible
to receive the remaining assets of the Company after distribution of
all preferential amounts. In proportion to their shareholding.
2. SHORT TERM BORROWINGS
* Working capital borrowing from Bank is secured by way of first
equitable mortgage of Factory Land & Building by deposit of the title
deeds and first change on all existing and future current
assets/movable fixed assets and personal guarantees of all the
Directors. There has been no continuing default as on the balance sheet
date in repayment of any of the above borrowings & interest thereon.
3. FIXED ASSETS
Note : Gross Depreciation of Rs. 61,32,922.00 Includes Rs. 15,71,858.00
amount added on Revaluation.
4. NON-CURRENT INVESTMENTS
(Shares in Gujarat Steel Tubes Ltd. and BST Manufacturing Ltd. valuing
Rs. 4355/- has been written off, during the year.)
5. (a) Contingent Liabilities not provided for:
Damages and interest under the Employees State Insurance Act, 1948 -
Rs. 135617.00 (Previous Year Rs. 135617.00) being disputed and appeal
there against pending for final disposal.
(b) Segment Information
(a) Primary Segment
The Company operations only in one business segment viz. iron and steel
(Black & G.I) Tubes and PVC Pipes.
(b) Secondary Segment
The Company caters mainly to the needs of Indian Market. Export
turnover during the year being NIL of the total turnover of the
Company, there are no reportable geographical segment.
(c) Related Party Disclosure
(A) Name of Related parties and description of relationship
(A) Key Management Personal and their Relatives:
(a) Shri Ajay Kumar Jain
(b) Shri Vinay Kumar Jain
(c) Shri Amit Kumar Jain
(d) Smt. Ragini Jain
(B) Associate Companies/Firms
(a) M/s Premier Power & Steels (P) Ltd.
(b) M/s Premier Alloys Ltd.
(c) M/s Premier Ispat Ltd.
(d) M/s Premier Metcast (P) Ltd.
(e) M/s Mahabir Securities (P) Ltd.
(d) In the opinion of the Board, the current assets, Loans and Advances
have a value on realisation in the ordinary course of business atleast
equal to the amounts at which they are stated in the Balance Sheet.
(e) The accounts of certain Debtors, Creditors and Advances are subject
to confirmation/reconciliation, if any.
(f) There are no dues to Micro, Small & Medium Enterprises(MSME)as at
the Balance Sheet date and no interest has been paid to any such
parties. This is based on the information on such parties having been
identified on the basis of information available with the Company and
relied upon by the Auditors. Hence "Trade payables-other than
acceptances" in Note 7 represent payable to creditors other than MSME.
(g) Previous Year's figures have been regrouped wherever necessary to
make them comparable.
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