NOTES FORMING PART OF THE FINANCIAL STATEMENT
FOR THE YEAR ENDED 31ST MARCH, 2018 24 Payment to auditor
(Amount in Rs)
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Particulars
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For the year ended 31st March 2018
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For the year ended 31st March 2017
|
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Statutory audit
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35,000
|
35,000
|
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Total
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35,000
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35,000
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25 Disclosures of related party transactions (as identified & certified by the Management):
(i) As per Accounting Standard-18-' Related Party Disclosures' issued by the Institute of Chartered Accountants of India have been complied with.
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(ii) Key Management
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(a) Piyush Periwal
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Chairman & Managing Director
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(b) Vinod Kumar Sharma
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Director
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(c) N.G.Paul Director
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(d) Abhijit Sarkar
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Director
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26 Earning per share (EPS)
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Particulars
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For the year ended 31st March 2018
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For the year ended 31st March 2017
|
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Profit after tax
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Rs.
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43,59,268
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23,06,991
|
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Weighted average number of eguity shares outstanding during the year
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Nos.
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58,53,750
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58,53,750
|
|
Nominal value of equity per share
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Rs.
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10
|
10
|
|
Basic earning per share (EPS)
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Rs.
|
0.74
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0.39
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27 To make regular monthly contribution to various Provident Funds which are in the nature of defined contribution schemes and such paid/payable amount are charged against revenue. To administer through duly constituted and approved independents trusts, various gratuity and pension funds, which are in the nature of defined benefit/contribution schemes. To determine the liabilities towards such schemes as applicable by an independent actuarial valuations as per the requirements of accounting.
28 Micro, Small and Medium Enterprises
There are Micro, Small & Medium Enterprises, to whom the Company owes dues, which are outstanding as at 31st March 2018. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.
29 In the opinion of the Board of Directors, the Current Assets, Loans & Advances are approximately of the value stated in accounts, if realised in ordinary course of business, unless otherwise stated. The provision for all known liabilities is adequate and not in excess/short of the amount considered reasonable/necessary
30 Balances of some of the Sundry creditors, loans and advances incorporated in the books as per balances appearing in the relevant subsidiary records, are subject to confirmation from the respective parties and consequential adjustments arising from reconciliation, if any. The Management however is of the view that there will be no material discrepancies in this regard.
31 Historically, the Company's investment in unquoted shares has been done with a view to hold them for long term and thereby earn capital gains, since dividend payout on such investments has generally been nil. The aforesaid policy has been taken into consideration while computing the provision for income tax as applicable
32 The financial statements for the year ended 31st March, 2017 had been prepared as per the then applicable revised Companies Act, 2013. Consequent to the notification under the Companies Act, 2013, the financial statements for the year ended 31st March, 2018 are also prepared under revised Schedule. Accordingly, the previous year figures have also been reclassified to conform to this year's notifications.
33 Goods and Service Tax
Effective 1st July, 2017, sales are recorded net of GST whereas earlier sales were recorded gross of Excise duty which formed part of expenses. Hence, revenue from operations for the year ended 31st March, 2018 are not comparable with corresponding figures from the previous year.
34 Figures in the brackets relate to previous year.
35 Figures have been rounded off to nearest rupee.
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As per our Report of even date
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For JHUNJHUNWALA & Co.
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Chartered Accountants
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Firm Reg no: 3021 69E
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CA. R K JHUNJHUNWALA
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PIYUSH PERIWAL
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Proprietor
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Chairman & Managing Director
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Membership No. 006604
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Place: Kolkata
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ABHIJIT SARKAR
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Date: 30th May, 2018
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Independent Director
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