KIRLOSKAR PNEUMATIC COMPANY LIMITED

BALANCE SHEET AS AT 31ST MARCH, 2008

ST

ST

Schedule
I.

SOURCES OF FUNDS :
1 Shareholders Funds :
(a) Capital
(b) Reserves & Surplus
2

1
2

Loan Funds :
(a) Secured loans
(b) Unsecured loans

Rs.

Deferred Tax Adjustments ( See Note 17 )

Deferred Tax Liability ( Net )

224,673,123

252,924,286
13,241,176
266,165,462

16,018,636
1,283,176,890

23,642,582
1,132,830,053

852,464,677
557,436,496
295,028,181

988,976,588
597,073,384
391,903,204

7,595,367
302,623,548
20,899,474
36,106,781

21,664,220
413,567,424
20,284,641
36,106,781

Technical Know-how
Investments
Current Assets Loans and Advances :
(a) Inventories
(b) Sundry Debtors
(c) Cash & Bank Balances
(d) Loans and Advances

6
7
8
9
10
11

717,515,540
1,362,374,929
108,747,245
299,933,711
2,488,571,425

526,806,237
1,088,369,560
112,939,154
244,338,306
1,972,453,257

Less: Current Liabilities and provisions :

(a) Liabilities
(b) Provisions

12
13

1,447,500,943
227,852,438
1,675,353,381
813,218,044

1,076,764,653
132,986,536
1,209,751,189
762,702,068

1,283,176,890

10,498,182
1,132,830,053

Net Current Assets

Miscellaneous Expenditure
(to the extent not written off or adjusted) :
Deferred Revenue Expenditure in respect of :
Voluntary Retirement Scheme
Total

Notes forming part of the Financial Statements

As per our attached report of even date
For and on behalf of
DALAL & SHAH
Chartered Accountants
Shishir Dalal
Partner
Mumbai, April 22, 2008.

26

1,042,485,131

128,443,380
714,578,629
843,022,009

216,617,383
8,055,740

Total

2
3
4

As at 31
March 2007
Rs.

128,443,380
914,041,751

3
4

II. APPLICATION OF FUNDS :

1 Fixed Assets
(a) Gross Block
(b) Less: Depreciation
(c) Net Block
(d) Capital work in progress,
expenditure to date

As at 31
March 2008
Rs.

20
For and on behalf of Board of Directors

H. R. Mustikar
Managing Director

Sanjay C. Kirloskar
Chairman

Kedar P. Phadke
Company Secretary

Suhas S. Kolhatkar
Vice President & Finance Controller
Pune, April 22, 2008

Annual Repor t 2007-2008

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH, 2008
Schedule
INCOME :
Sales ( Gross )
Less: Excise Duty
Net Sales
Other Income
Surplus on Sale of Assets ( See Note 20 )

Rs.

14

15

EXPENDITURE :
Materials Consumed &
Manufacturing Expenses
Employees Emoluments
Sundry Expenses
Interest & Other Finance Charges, net
Depreciation

16
17
18
19

Expenses in respect of previous years

Less:
Transferred to General Reserve
Proposed Dividend
Tax on Proposed Dividend
Balance carried to Balance Sheet
Earning per Share
Net Profit after Tax ( After prior period adjustments )
Weighted average number of Shares
Basic and Diluted Earning Per Share (Rs.) of the face value of Rs.10/Notes forming part of the Financial Statements
20

For and on behalf of

DALAL & SHAH
Chartered Accountants
Shishir Dalal
Partner
Mumbai, April 22, 2008.

Previous Year
Rs.

4,452,830,094
424,622,007
4,028,208,087
72,106,206
4,100,314,293

3,928,752,729
363,160,554
3,565,592,175
46,129,662
200,602,272
3,812,324,109

3,730,553,802
369,760,491

2,401,445,052
373,087,628
445,406,674
35,754,116
32,875,310
3,288,568,780
523,755,329

70,500,000
(7,623,946)
8,500,000
298,384,437
152,041,392

58,650,000
23,642,582
7,200,000
434,262,747
128,765,466

6,377,706
456,803,535
(108,388)
456,695,147

(1,316,409)
561,711,804
(136,452)
561,575,352

200,000,000
89,910,366
15,280,267
305,190,633
151,504,514

371,965,877
32,110,845
5,457,238
409,533,960
152,041,392

304,653,755
12,844,338

432,809,886
12,844,338

23.72

33.70

2,647,643,903
476,232,372
552,501,151
13,676,028
40,500,348

Profit before Taxation

Taxation :
Current Tax Net of MAT Credit Set Off
( Including Wealth Tax Rs.500,000 Previous Year Rs.250,000)
Deferred Tax ( See Note 17 )
Fringe Benefit Tax
Profit after Taxation
As per last Account
Add / (Less) Tax Adjustments in respect of
earlier years ( Net )

As per our attached report of even date

Current Year
Rs.

For and on behalf of Board of Directors

H. R. Mustikar
Managing Director

Sanjay C. Kirloskar
Chairman

Kedar P. Phadke
Company Secretary

Suhas S. Kolhatkar
Vice President & Finance Controller
Pune, April 22, 2008

27

BALANCE SHEET AS AT 31ST MARCH, 2009

Schedule
I.

SOURCES OF FUNDS :
1 Shareholders Funds :
(a) Capital
(b) Reserves & Surplus
2

1
2

Loan Funds :
(a) Secured loans
(b) Unsecured loans

Rs.

Total

16,018,636
1,283,176,890

988,976,588
597,073,384
391,903,204
21,664,220
413,567,424
20,284,641
36,106,781

575,891,179
32,784,641
207,198,206

6
7
8
9
10
11

1,024,228,570
1,338,505,404
308,765,562
511,855,968
3,183,355,504

717,515,540
1,362,374,929
108,747,245
299,933,711
2,488,571,425

12
13

1,891,446,036
406,819,992
2,298,266,028

1,447,500,943
227,852,438
1,675,353,381
813,218,044
1,283,176,890

Net Current Assets

Total
Notes forming part of the Financial Statements

26

14,628,684
1,700,963,502

96,937,052

Less: Current Liabilities and provisions :

(a) Liabilities
(b) Provisions

Shishir Dalal
Partner
Mumbai, April 25, 2009.

376,949,853

216,617,383
8,055,740
224,673,123

1,128,293,631
649,339,504
478,954,127

2 Technical Know-how
3 Investments
4 Current Assets Loans and Advances :
(a) Inventories
(b) Sundry Debtors
(c) Cash & Bank Balances
(d) Loans and Advances

For and on behalf of

DALAL & SHAH
Chartered Accountants

1,309,384,965

128,443,380
914,041,751
1,042,485,131

372,708,083
4,241,770

Deferred Tax Adjustments (See Note 17)

Deferred Tax Liability (Net)

As per our attached report of even date

As at
31st March 08
Rs.

128,443,380
1,180,941,585

3
4

II. APPLICATION OF FUNDS :

1 Fixed Assets
(a) Gross Block
(b) Less: Depreciation
(c) Net Block
(d) Capital work in progress,
expenditure to date

As at
31st March 09
Rs.

885,089,476
1,700,963,502

20
For and on behalf of Board of Directors

H. R. Mustikar
Managing Director

Sanjay C. Kirloskar
Chairman

Kedar P. Phadke
Company Secretary

Suhas S. Kolhatkar
Vice President & Finance Controller
Pune, April 25, 2009

KIRLOSKAR PNEUMATIC CO. LTD.

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH, 2009
Schedule
INCOME :
Sales ( Gross )
Less: Excise Duty
Net Sales
Other Income

Rs.

14

15

EXPENDITURE :
Materials Consumed &
Manufacturing Expenses
Employees Emoluments
Sundry Expenses
Interest & Other Finance Charges, net
Depreciation

16
17
18
19

Expenses in respect of previous years

Less:
Transferred to General Reserve
Proposed Dividend
Tax on Proposed Dividend
Balance carried to Balance Sheet
Earning per Share :
Net Profit after Tax ( After prior period adjustments )
Weighted average number of Shares
Basic and Diluted Earning Per Share (Rs.) of the face value of Rs.10/Notes forming part of the Financial Statements
20

For and on behalf of

DALAL & SHAH
Chartered Accountants
Shishir Dalal
Partner
Mumbai, April 25, 2009.

Previous Year
Rs.

5,649,183,640
464,360,596
5,184,823,044
72,534,423
5,257,357,467

4,452,830,094
424,622,007
4,028,208,087
83,680,069
4,111,888,156

4,631,236,890
626,120,577

2,647,643,903
476,232,372
552,501,151
25,249,891
40,500,348
3,742,127,665
369,760,491

210,000,000
(1,389,952)
9,000,000
408,510,529
151,504,514

70,500,000
(7,623,946)
8,500,000
298,384,437
152,041,392

8,688,402
568,703,445
(26,765)
568,676,680

6,377,706
456,803,535
(108,388)
456,695,147

250,000,000
128,443,380
21,828,952
400,272,332
168,404,348

200,000,000
89,910,366
15,280,267
305,190,633
151,504,514

417,172,166
12,844,338

304,653,755
12,844,338

32.48

23.72

3,450,927,502
510,375,877
593,484,467
23,653,098
52,795,946

Profit before Taxation

Taxation :
Current Tax
(Including Wealth Tax Rs.450,000 Previous Year Rs.500,000)
Deferred Tax (See Note 17)
Fringe Benefit Tax
Profit after Taxation
As per last Account
Add / (Less) Tax Adjustments in respect of
earlier years ( Net )

As per our attached report of even date

Current Year
Rs.

For and on behalf of Board of Directors

H. R. Mustikar
Managing Director

Sanjay C. Kirloskar
Chairman

Kedar P. Phadke
Company Secretary

Suhas S. Kolhatkar
Vice President & Finance Controller
Pune, April 25, 2009

27

BALANCE SHEET AS AT 31ST MARCH, 2010

Schedule
I.

SOURCES OF FUNDS :
1 Shareholders Funds :
(a) Capital
(b) Reserves & Surplus
2

1
2

Loan Funds :
(a) Secured loans
(b) Unsecured loans

Rs.

Total

14,628,684
1,700,963,502

1,128,293,631
649,339,504
478,954,127
96,937,052
575,891,179
32,784,641
207,198,206

763,858,920
28,617,974
272,186,899

6
7
8
9
10
11

741,598,572
1,395,659,766
259,790,224
476,500,189
2,873,548,751

1,024,228,570
1,338,505,404
308,765,562
511,855,968
3,183,355,504

12
13

1,582,343,166
426,636,092
2,008,979,258

1,891,446,036
406,819,992
2,298,266,028
885,089,476
1,700,963,502

Net Current Assets

Total
Notes forming part of the Financial Statements

24

20,600,762
1,929,233,286

39,762,112

Current Assets Loans and Advances :

Less: Current Liabilities and provisions :
(a) Liabilities
(b) Provisions

Shishir Dalal
Partner
Membership No. 37310
Mumbai, April 28, 2010.

300,520,765

372,708,083
4,241,770
376,949,853

1,444,015,830
719,919,022
724,096,808

2 Technical Know-how
3 Investments
4 Current Assets Loans and Advances :
(a) Inventories
(b) Sundry Debtors
(c) Cash & Bank Balances
(d) Loans and Advances

For DALAL & SHAH

Firm Registration No. 102021W
Chartered Accountants

1,608,111,759

128,443,380
1,180,941,585
1,309,384,965

299,040,000
1,480,765

Deferred Tax Adjustments (See Note 17)

Deferred Tax Liability (Net)

As per our attached report of even date

As at
31st March 09
Rs.

128,443,380
1,479,668,379

3
4

II. APPLICATION OF FUNDS :

1 Fixed Assets
(a) Gross Block
(b) Less: Depreciation
(c) Net Block
(d) Capital work in progress,
expenditure to date

As at
31st March 10
Rs.

864,569,493
1,929,233,286

20

For and on behalf of Board of Directors

Aditya Kowshik
Executive Director

Rahul C. Kirloskar
Chairman

Kedar P. Phadke
Company Secretary

Suhas S. Kolhatkar
Vice President & Finance Controller
Pune, April 28, 2010

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH, 2010
Current Year
Rs.

Previous Year
Rs.

4,742,350,335
209,554,268
4,532,796,067
99,706,367
4,632,502,434

5,649,183,640
464,360,596
5,184,823,044
72,534,423
5,257,357,467

3,950,221,513
682,280,921

3,450,927,502
510,375,877
593,484,467
23,653,098
52,795,946
4,631,236,890
626,120,577

200,600,000
5,972,078
475,708,843

210,000,000
(1,389,952)
9,000,000
408,510,529

168,404,348

151,504,514

3,403,713
647,516,904
(66,670)
647,450,234

8,688,402
568,703,445
(26,765)
568,676,680

Less: Transferred to General Reserve

Proposed Dividend
Tax on Proposed Dividend

300,000,000
154,132,056
26,187,036
480,319,092

250,000,000
128,443,380
21,828,952
400,272,332

Balance carried to Balance Sheet

Earning per Share :
Net Profit after Tax ( After prior period adjustments )
Weighted average number of Shares

167,131,142

168,404,348

479,045,886
12,844,338

417,172,166
12,844,338

37.29

32.48

Schedule
INCOME :
Sales ( Gross )
Less: Excise Duty
Net Sales
Other Income
EXPENDITURE :
Materials Consumed &
Manufacturing Expenses
Employees' Emoluments
Sundry Expenses
Interest & Other Finance Charges
Depreciation

Rs.

14

15

16
17
18
19

2,836,426,299
531,876,521
489,813,931
18,597,009
73,507,753

Profit before Taxation

Taxation :
Current Tax ( Including Wealth Tax Rs.600,000 Previous Year Rs.450,000)
Deferred Tax ( See Note 17 )
Fringe Benefit Tax
Profit after Taxation
As per last Account
Add / (Less) Tax Adjustments in respect of
earlier years ( Net )
Expenses in respect of previous years

Basic and Diluted Earning Per Share (Rs.) of the face value of Rs.10/Notes forming part of the Financial Statements
20
As per our attached report of even date
For DALAL & SHAH
Firm Registration No. 102021W
Chartered Accountants
Shishir Dalal
Partner
Membership No. 37310
Mumbai, April 28, 2010.

For and on behalf of Board of Directors

Aditya Kowshik
Executive Director

Rahul C. Kirloskar
Chairman

Kedar P. Phadke
Company Secretary

Suhas S. Kolhatkar
Vice President & Finance Controller
Pune, April 28, 2010

25