| 1. Share Capital
Terms/rights attached to equity shares
The Company has only one class of equity shares having a par value of
Rs. 10 per share. Each holder of equity is entitled to one vote per
share. The Company declares and pays dividend in Indian rupees.
In the event of liquidation of the Company, the holders of equity
shares would be entitled to receive remaining assets of the Company,
after distribution of all preferential amounts. The distribution will
be in proportion to the number of equity shares held by the
shareholders.
2. Earnings per share (EPS)
Basic earnings per share
The calculation of basic earnings per share is based on the profit of
Rs. 10,67,26,661/- (previous year Loss of Rs. 37,83,093/-),
attributable to equity shareholders and weighted average number of
equity shares outstanding 40,00,000 (previous year 40,00,000) shares.
3. Disclosure for retirement benefits Defined contribution plans
The Company's employee provident fund scheme is a defined contribution
plan. A sum of Rs Nil/-(previous year Rs.Nil) has been recognized and
shown under Employee benefits in note
Defined benefit plans - Gratuity
Gratuity is payable to all eligible employees of the Company on
superannuation, death or permanent disablement, in terms of the
provisions of the Payment of Gratuity Act, 1972.
The estimates of future salary increases, considered in actuarial
valuation, take account of inflation, seniority, promotion and other
relevant factors, such as supply and demand in the employment market.
As at 31 March 2014, the Company has carried out tax computation in
accordance with Accounting Standard 22 - Accounting for Taxes on Income
notified under the Companies (Accounting Standards) Rules, 2006.
Management is of the view that in the absence of virtual uncertainty
realization of the deferred tax assets has been recognised only to the
extent of deferred tax liability. The components of deferred tax assets
(net) as at 31 March 2013 are as follows:
4. Related parties
Related party disclosures as required under Accounting Standard (AS) -
18 "Related Party Disclosures":
(1) Name of the related party and nature of relationship where control
exists.
Subsidiary Company -
Venlon Metallising Private Limited, (upto 31st Dec 2013)
Venlon Metacoat Private Limited, (upto 31st Dec 2013)
(ii) Related parties and nature of related party relationship with whom
transactions have taken place
Description of relationship Name of the party
Subsidiaries Venlon Metallising Private Limited
Venlon Metacoat Private Limited
Entities over which KMP is
able to exercise significant
Control Venlon Metallic Industries
Key Management Personnel (KMP) Nanik G Rohera
Nitesh Rohera
5. The Company is a Public Listed Company as defined in the General
Instructions in respect of Accounting Standards notified under the
Companies Act, 1956. Accordingly, the Company has complied with
Accounting Standards as applicable to Public Listed Company,
6. Previous year figures have been regrouped wherever necessary
|