Mar 31, 2015
1) Corporate Information:
The company is engaged in the business of manufacturing and selling of
Colour coated roof sheets, FRP roof sheets, Polycarbonate sheets, Turbo
Ventilators and other miscellaneous Roofing Accessories.
2. Segment Reporting :
The operations of the company are limited to one segment, namely,
"Trading and Manufacturers, supplier, metal roofing, polycarbonate
roofing, roofing sheets, etc.
3. Micro, Small and Medium Enterprise :
The Company is in the process of identifying the supplier, if any,
covered under the Micro and Small enterprise as defined under Micro,
Small and Medium Enterprise Development Act, 2006. Due to
non-availability of data, the details required have not been furnished.
4. Employee Benefits :
i) Defined contribution plans
The Company has recognized an amount of Rs. 1,10,465/- (P.Y 1,69,123/-)
as expenses under the defined contribution plan in the Statement of
Profit and Loss for the year ended 31st March, 2015.
(ii) Defined benefit plan
The Company recognizes the liability towards the gratuity at each
balance sheet date.The Company makes annual contributions to the
Employees' Group Gratuity of the LIC, a funded defined benefit plan for
employees of the Company. The scheme provides for payment to vested
employees as under:
a) On Normal retirement/ early retirement/ withdrawal/resignation:
As per the provisions of Payment of Gratuity Act, 1972 with vesting
period of 5 years of service.
b) On death in service:
As per the provisions of Payment of Gratuity Act, 1972 without any
vesting period.
The most recent actuarial valuation of plan assets and the present
value of the defined benefit obligation for gratuity and leave
encashment were carried out at 31st March, 2015 by an LIC.
The present value of the defined benefit obligations and the related
current service cost and past service cost, were measured using the
Projected Unit Credit Method, which recognizes each period of service
as giving rise to additional unit of benefit entitlement and measures
each unit separately to build up the final obligation.
The following table sets out the status of the gratuity plan and the
amounts recognized in the Company's financial statements as at 31st
March, 2015.
5. Related Party Disclosures:
Disclosures as required by Accounting Standard - 18 are given below:
Name of Related Parties Nature of Relationship
1. Mr. Kaushalkumar S. Gupta Director / Key Management
Personnel
2. Mrs. Sangeeta K. Gupta Director / Key Management
Personnel
3. Mr. Satishkumar S. Gupta Director / Key Management
Personnel
4. Mr. Satishkumar K. Agrawal Relatives of Director /
Key Management Personnel
5 Bansal Roofing Products Entities significantly influence
by Directors/ Key Management
Personnel or end relatives of
Director / Key Management
6. Agrawal Associates personnel
7 Bhavita Engineering. Relatives of Director /
Key Management Personnel
6. The value of realization of Current Assets other than Fixed Assets
and Non-current investments in the ordinary course of business will not
be less than the value at which they are stated in the Balance Sheet.
7. The balances of Trade Receivable and Trade Payable are subject to
confirmation, reconciliation and consequential adjustments, if any.
8. The company has provided net deferred tax liability in the books of
accounts according to the Accounting Standard issued by the ICAI
9. Previous year figures are regrouped, reclassified and rearranged
wherever necessary.
Mar 31, 2014
1) Corporate Information:
The company is engaged in the business of manufacturing and selling of
Colour coated roof sheets, FRP roof sheets, Polycarbonate sheets, Turbo
Ventilators and other miscellaneous Roofing Accessories.
2. Segment Reporting :
The operations of the company are limited to one segment, namely,
"Trading and Manufacturers, supplier, metal roofing, polycarbonate
roofing, roofing sheets, etc."
3. Micro, Small and Medium Enterprise :
The Company is in the process of identifying the supplier, if any,
covered under the Micro and Small enterprise as defined under Micro,
Small and Medium Enterprise Development Act, 2006. Due to
non-availability of data, the details required have not been furnished.
4. Employee Benefits :
i) Defined contribution plans
The Company has recognized an amount of Rs. 1,69,123/-* (P.Y Nil) as
expenses under the defined contribution plan in the Statement of Profit
and Loss for the year ended 31st March, 2014.
* This figure also includes Rs. 32,125/- pertaining to previous year
paid in current year.
(ii) Defined benefit plan
The Company recognizes the liability towards the gratuity at each
balance sheet date.
The Company makes annual contributions to the Employees'' Group Gratuity
of the LIC, a funded defined benefit plan for employees of the Company.
The scheme provides for payment to vested employees as under:
a) On Normal retirement/ early retirement/ withdrawal/resignation:
As per the provisions of Payment of Gratuity Act, 1972 with vesting
period of 5 years of service.
b) On death in service:
As per the provisions of Payment of Gratuity Act, 1972 without any
vesting period.
The most recent actuarial valuation of plan assets and the present
value of the defined benefit obligation for gratuity and leave
encashment were carried out at 31st March, 2014 by an actuary.
The present value of the defined benefit obligations and the related
current service cost and past service cost, were measured using the
Projected Unit Credit Method, which recognizes each period of service
as giving rise to additional unit of benefit entitlement and measures
each unit separately to build up the final obligation.
5. The value of realization of Current Assets other than Fixed Assets
and Non-current investments in the ordinary course of business will not
be less than the value at which they are stated in the Balance Sheet.
6. The balances of Trade Receivable and Trade Payable are subject to
confirmation, reconciliation and consequential adjustments, if any.
7. The company has net deferred tax assets on account of unabsorbed
depreciation and business losses. In the absence of virtual certainty
and convincing evidence of sufficient future taxable income, net
deferred tax asset as at 31st March, 2014 is not recognized.
8. Additional information pursuant to the provisions of paragraph 5
of part II of Schedule VI (Revised) to the Companies Act, 1956 are
furnished to the extent applicable to the company.
9. Previous year figures are regrouped, reclassified and rearranged
wherever necessary.
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article