Notes to accounts
Sennsitivity Analysis
Rs in Lakh
|
Defined Benefit Plan
|
2018
|
2017
|
2016
|
|
Particulars Impact on Profit and loss
|
|
|
|
|
Investments measured at FVTPL (including equity instruments held for trading)
|
|
|
|
|
10% Increase in price
|
10.90
|
9.92
|
9.33
|
|
10 % Decrease in price
|
(10.90)
|
(9.92)
|
(9.33)
|
|
Impact on other comprehensive Income
|
|
|
|
|
Investments measured at FVTOCI
|
|
|
|
|
10% Increase in price
|
0.79
|
0.51
|
0.43
|
|
10% Decrease in price
|
(0.79)
|
(0.51)
|
(0.43)
|
Note No: 43
The financial statements were approved for issue by the board of directors on May 29, 2018
Note No: 44
Ind AS 101 Reconciliations
Effect of IND AS adoption on the Standalone Balance Sheet as at 31.03.2017 and 01.04.2016
Rs. in lakh
|
Particulars
|
As at 31-03-2017
|
As at 01 -04-2016
|
| |
Previous GAAP
|
Effect of transition to Ind AS
|
As per Ind AS balance sheet balance sheet
|
Previous GAAP
|
Effect of transition to Ind AS
|
As per Ind AS
|
|
ASSETS
|
|
|
|
|
|
|
|
Non-current assets
|
|
|
|
|
|
|
|
a Property .Plant & Equipment
|
1735.05
|
|
1735.05
|
1664.28
|
-
|
1664.28
|
|
b Capital Work in Progress
|
41.21
|
|
41.21
|
30.43
|
-
|
30.43
|
|
h Financial Assets
|
|
|
|
|
-
|
|
|
(i) Investments
|
1089.51
|
194.34
|
1283.85
|
1090.51
|
4.91
|
1095.42
|
|
(ii) Trade Receivables
|
-
|
|
-
|
-
|
|
-
|
|
(iii) Loans
|
551.84
|
|
551.84
|
409.01
|
-
|
409.01
|
|
(iv) Others ( to be specified)
|
302.49
|
|
302.49
|
215.21
|
-
|
215.21
|
|
i Deferred tax assets (net)
|
-
|
|
-
|
-
|
|
-
|
|
j Other non-current assets
|
4.80
|
|
4.80
|
176.52
|
-
|
176.52
|
|
Current assets
|
|
|
|
|
|
-
|
|
a Inventories
|
521.34
|
|
521.34
|
481.49
|
-
|
481.49
|
|
b Financial Assets
|
|
|
|
|
-
|
|
|
(i) Investments
|
99.12
|
|
99.12
|
93.12
|
(0.00)
|
93.12
|
|
(ii) Trade Receivables
|
587.96
|
|
587.96
|
511.10
|
-
|
511.10
|
|
(iii) Cash and cash equivalents
|
98.52
|
|
98.52
|
68.72
|
-
|
68.72
|
|
(iv) Bank balances other than
|
|
|
|
|
|
|
|
(iii) above
|
16.03
|
|
16.03
|
52.72
|
-
|
52.72
|
|
(v) Loans
|
2673.78
|
|
2673.78
|
2556.61
|
-
|
2556.61
|
|
(vi) Others ( to be specified)
|
-
|
|
-
|
0.00
|
-
|
0.00
|
|
c Current Tax Assets (Net)
|
186.31
|
|
186.31
|
-
|
|
-
|
|
d Other current assets
|
12.97
|
-
|
12.97
|
9.11
|
-
|
9.11
|
|
Total Assets
|
7920.91
|
194.34
|
8115.26
|
7358.83
|
4.91
|
7363.74
|
|
EQUITY AND LIABILITIES
|
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
|
|
a Equity Share capital
|
1727.15
|
-
|
1727.15
|
1727.15
|
-
|
1727.15
|
|
b Other Equity
|
4611.59
|
255.44
|
4867.02
|
4377.56
|
3.82
|
4381.38
|
|
LIABILITIES
|
|
|
|
|
|
|
|
Non-current liabilites
|
|
|
|
|
|
|
|
a Financial Liabilities
|
|
|
|
|
|
|
|
(i) Borrowings
|
11.98
|
-
|
11.98
|
4.39
|
-
|
4.39
|
|
(ii) Trade payables
|
-
|
|
-
|
-
|
|
-
|
|
(iii) Other financial liabilities
|
240.00
|
-
|
240.00
|
315.00
|
-
|
315.00
|
|
b Provisions
|
1.91
|
-
|
1.91
|
19.71
|
-
|
19.71
|
|
c Deferred tax liabilites (Net)
|
112.71
|
42.84
|
155.55
|
86.58
|
1.09
|
87.67
|
|
Current liabilites
|
|
|
|
|
|
|
|
a Financial Liabilities
|
|
|
|
|
|
|
|
(i) Borrowings
|
0.00
|
-
|
0.00
|
1.17
|
-
|
1.17
|
|
(ii) Trade payables
|
843.31
|
-
|
843.31
|
566.42
|
-
|
566.42
|
|
(iii) Other financial liabilities
|
58.97
|
-
|
58.97
|
94.58
|
-
|
94.58
|
|
b Other current liabilities
|
23.35
|
-
|
23.35
|
21.25
|
-
|
21.25
|
|
c Provisions
|
103.94
|
(103.94)
|
0.00
|
-
|
|
-
|
|
d Current Tax Liabilities (Net)
|
186.00
|
-
|
186.00
|
145.00
|
-
|
145.00
|
|
Total Equity and Liabilities
|
7920.91
|
194.34
|
8115.26
|
7358.83
|
4.91
|
7363.74
|
|
Particulars
|
As on 31.03.2017
|
As on 01.04.2016
|
|
Total Equity as per previous GAAP
|
6,338.74
|
6,104.71
|
|
Net Gain/(Loss) on Fair Value Through OCI - Equity
|
151.50
|
3.82
|
|
Impact of Dividend and Dividend Distribution Tax
|
103.94
|
-
|
|
Total Equity as per IND AS
|
6,594.18
|
6,108.53
|
Effect of IND AS adoption on the Standalone Statement of Profit and Loss for the year ended 31.03.2017
Rs. in Lakh
|
Particulars
|
As at 31-03-2017
|
|
Previous GAAP
|
Effect of transition to Ind AS
|
As per Ind AS balance sheet
|
|
I Revenue from Operations
|
8387.79
|
-
|
8387.79
|
|
II Other Income
|
306.85
|
-
|
306.86
|
|
III Total Income ( I II)
|
8694.64
|
-
|
8694.64
|
|
IV EXPENSES
|
|
|
|
|
(a) Cost of Materials Consumed
|
4895.88
|
-
|
4895.88
|
|
(b) Purchases of Stock-in-Trade
|
84.42
|
-
|
84.42
|
|
(c) Changes in Inventories of Finished goods, Work-in-Progress and Stock-in-Trade
|
54.15
|
-
|
54.15
|
|
(d) Manufacturing Expenses
|
1983.70
|
-
|
1983.70
|
|
(e) Employee Benefits Expense
|
454.04
|
(6.58)
|
447.47
|
|
(f) Finance Costs
|
4.95
|
-
|
4.95
|
|
(g) Depreciation and Amortisation Expense
|
117.09
|
-
|
117.09
|
|
Less : Amt. Transferred from Revaluation Reserve
|
(9.28)
|
9.28
|
-
|
|
(h) Other Expenses
|
521.33
|
-
|
521.33
|
|
Total Expenses (IV)
|
8106.28
|
2.70
|
8108.99
|
|
V Profit / (Loss) before Exceptional Items and Tax (III - IV)
|
588.36
|
(2.70)
|
585.65
|
|
VII Profit / (Loss) before Tax
|
588.36
|
(2.70)
|
585.65
|
|
VIM Tax Expense:
|
|
|
|
|
(a) Current Tax Expense
|
186.01
|
(2.11)
|
188.11
|
|
(b) Current Tax Expense Relating to Earlier Year's
|
28.97
|
-
|
28.97
|
|
(c) Deferred Tax
|
26.13
|
-
|
26.13
|
|
IX Profit / (Loss) for the year
|
347.25
|
(4.81)
|
342.44
|
|
X Other Comprehensive Income
|
|
|
|
|
A) Items that will not be reclassified to profit or loss
|
|
|
|
|
Net Gain/(Loss) Of Fair Value - Equity Instruments
|
-
|
(189.42)
|
189.42
|
|
Tax On Above
|
-
|
41.75
|
(41.75)
|
|
Re-measurement Gains/(Losses) on defined benefit plans
|
-
|
6.58
|
(6.58)
|
|
Current Tax Effect
|
-
|
(2.11)
|
2.11
|
|
Sub Total
|
-
|
(143.21)
|
143.21
|
|
B Items that will be reclassified to profit or loss XI Total Comprehensive Income for the year (Comprising Profit ( Loss) and Other Comprehensive Income for the year)
|
347.25
|
138.39
|
485.66
|
Reconciliation of the net profit for the year ended March 31, 2017, as reported under previous GAAP and now under Ind AS is as follows:
|
Particulars
|
Year Ended 31.03.2017
|
|
Net profit as pre previous GAAP
|
347.25
|
|
Re-measurement loss on defined benfit plans accounted in OCI
|
6.58
|
|
Reversal of revaluation reserve utlised in profit and loss account
|
(9.28)
|
|
Tax effect on Above
|
(2.11)
|
|
Net profit as per Ind AS
|
342.44
|
|
Other Comprehensive Income
|
|
|
Net Gain/(Loss) Of Fair Value - Equity Instruments
|
189.42
|
|
Tax effect on Above
|
(41.75)
|
|
Re-measurement Gains/(Losses) on defined benefit plans
|
(6.58)
|
|
Tax effect on Above
|
2.11
|
|
Total Comprehensive Income for the year
|
485.66
|
1 Note: Fair Valuation for Financial Assets-
The Company has valued financial assets (other than investment in Associates which are accounted at cost),at fair value. Impact of fair value changes as on date of transition, is recognised in opening reserves and changes thereafter are recognised in Statement of profit and Loss or other Comprehansive income, as the case may be.
2 Note: Deferred Tax-
The impact of transaction adjustments together with Ind AS mandate of using balance sheet approach (against profit and loss approach in the previous GAAP) for the computation of deferred taxes has resulted in changes to the reserves, on the date of transition, with consequential impact to the statment of profit and loss for the Subsequent periods.
3 Note: Remeasurements of post-employment benefit obligation
Under Previous GAAP the Company recognised actuarial gains and losses in the Statement of Profit and Loss. Under Ind AS, re-measurements, i.e., actuarial gains and losses, the return on plan assets excluding amounts included in net interest on the net defined benefit liability are recognised in Other Comprehensive Income instead of Statements of Profit and Loss.
4 Note: Dividend and Dividend Distribution Tax
The company pursuant to Amendment to Accounting Standard 4 - "Contingencies and Events occurring after the Balance Sheet date" effective from 30.03.2016 and in accordance with IND AS 10 - Events after the Reporting Period have recorded the dividend amount for year ended March 31, 2017 approved by the Shareholders at the Annual General Meeting held in F.Y 2017-18, in the Reserves and Surplus of the Financial Statements for F.Y. 2017-18.
5 Note: Other Adjustments
To comply with the Companies (Accounting Standard) Rules, 2006, certain account balances have been regrouped as per the format prescribed under Division II of Schedule III to the Act.
Note No: 45
During the year, the amount required to be spent on Corporate Social Responsibility activities amounted to Rs. 8.47 lakhs in accordance with Section 135 of the Companies Act,2013. The Amounts were spent during current year for Education and Skill Development.
Note No: 46
Previouse year figure were audited by two other firms of chartered accountant jointly.
Note No: 47
Previous year figures have been recast and restated wherever necessary
|
As per our report of even date attached
|
For and on behalf of the Board
|
|
For Batliboi & Purohit
|
N.V.Siraj -
|
|
Chartered Accountants
|
DIN: 00021986
|
|
Firm Reg. No 101048W
|
Vice-Chairman And Managing Director
|
| |
Chetan D.Mehra -
|
| |
DIN: 00022021
|
| |
Director
|
| |
Navneet K. Pandya-Chief Financial Officer
|
|
Atul Mehta
|
Sushama Vesvikar-
|
|
(Partner)
|
Company Secretary
|
|
Membership No: 015935
|
|
|
Place : Mumbai
|
|
|
Dated : 29.05.2018
|
|
|