This action might not be possible to undo. Are you sure you want to continue?
(Source: FICCI & Indian Brand Equity Foundation) RISKS.01 1108.73 1729.17 3301.53 (4669.19 4640.46 1735.63 (8. and advent of IPM technique.98 0.6% growth achieved in 2007-2012. Indian Agro chemical sector is expected to grow by CAGR of 12. while the supply is restricted due to low yield growth.18 10.06 100.4 bn by 2025(E).66 1114.35 17.92 ANNUAL REPOR T 2012-13 17 REPORT .55 37119.10 37532. there is a significant potential for growth in the agro chemical industry.93 54736. where high yields are an imperative rather than an option. the demand supply gap is expected to accentuate in future.02 100. The government is placing increased emphasis on growth of agriculture. CONCERNS AND THREA TS THREATS With new era of agriculture.31 6. Government is taking all possible initiatives to put agriculture sector on growth radar of 4% in Twelth Five Year Plan.77 192.31 17.93 Lacs in Current Year as against ` 52175.27 0.93 20. and the scope for bringing new areas under cultivation is severely limited. the use of Bio Pesticides and GM seeds have increased. Also 20-30% agriculture produce is lost every year due to pest.1 % 99. herbicides and the plant growth regulators increases.82 0. In India Bt Seeds are widely used and the use of some insecticides may diminish but the scope of the insecticides for the sucking pests.73 11. highest in the world. The stagnant growth in turnover was due to challenging industrial scenario in the country during the year under review. Therefore pressure of increasing the yield per hectare will tend to increase in the use of agro chemicals.78 235. and also there is a visible shift in the commercial basket to include high-value agricultural commodities. With total of 30-40% of land under crop protection.69 993.38 % 99. Population is expected to increase by 1. rather current cultivated land is shrinking due to urbanization. FINANCIAL REVIEW (` In Lacs) Standalone Par ticulars Particulars FY 2013 ` Total Turnover (Net) Other Income Total Income Cost of Raw Material and Components Consumed Purchase of Traded Goods Decrease/(Increase) in Inventories of Finished Goods.24 3531.33 4157.59 8.00 71. rodents etc which in monetary terms is equitant to $20 bn every year. up from 3.81 7.03 3. 2683.66 576. WIP and Traded Goods Employee Benefits Expense Other Expenses Total Expenses EBDITA Depreciation and Amortization Expenses Finance Costs Profit before Tax (PBT) Taxation Profit after Tax (PAT) Earning per Share (`) nover Gr owth Tur urnover Growth The company achieved net turnover of ` 61667.52 26.95) 61667.78 10583. India is the 4th largest producer of the agro chemicals (by volume) after USA. Increase in the minimum support price (MSP) for farmers has also increased disposable income with them will benefit the consumption of agrochemicals.26 89.74 0.93 2.00 60. diseases.77 27.89 6951.48) 5.2 bn to 1.59 Lacs in the previous year.16 88.23 6.85 4.32 5644. which bodes well for the country's agrochemical industry.51 52184. primarily due to continued increase in demand.52 5. OPPOR TUNITIES AND OUTLOOK OPPORTUNITIES (Source: FICCI & Indian Brand Equity Foundation) India has about 190 mn hectares land of gross cultivated area.68 9007. weeds. Japan & China and 12th by value globally.43 4294.MANAGEMENT DISCUSSION AND ANAL YSIS ANALYSIS INDUSTR Y STRUCTURE AND DEVELOPMENTS INDUSTRY Demand for food in India has far exceeded supply as a result of rising incomes and increasing population.21 46539.14 8.31 2939.17 FY 2012 ` 52175.45 2.62 61688.97 0.9% during 2012-15.
Bifenthrin. 2. work ethics etc. Leverage and Liquidity During the year. resulted in continuing improvement in internal control. Pendamethalin.4-D Sodium Salt. Renewal of IIL In-House R&D unit recognition from DSIR has been accorded up to March 31. RESEARCH & DEVELOPMENT IIL driven by its passion for adhering to international quality standards and keeping in view competitiveness in the agrochemical market. 2004 and has completed seven years of its existence. They are made aware of the policies and HR manuals of the company for broad understanding of system and culture of the company and also about their entitlements. supplemented by internal audit checks from M/s Devesh Parekh & Co. the company has incurred in capital investment of ` 4199. Buprofezin. Human Resource Management in the Company is committed for bringing about sustained growth. interest and tax (EBDITA) was ` 6951.66 Lacs against ` 5644. the company has established an excellent In-House R&D centre recognized by DSIR under the Ministry of Science and Technology from April. Hexaconazole. Tricyclazole. the Internal Auditors The Internal Auditors independently evaluate the adequacy of internal controls and concurrently audit the majority of the transactions in value terms.19 Lacs on account of higher interest rates and increased borrowings to meet working capital requirements and short term obligations.57 Lacs. Thiodicarb.22 Lacs towards factory buildings and plant & machinery. The company is also having collaboration with IARI for nano technology in pesticide formulation. The MNIO project "A new approach for synthesis of an Import substitute 3-Methyl-N-nitroiminoperhydro-1. Career and progression is always felt important through employees' promotion and salary revision plan to make strong bonding and as an asset of the organization. Acephate. realize their full potential and fulfill their career aspirations at IIL through sound HR Practices.5-oxadiazine (MNIO). the company has emphasized on product innovation. Pretilachlor. During the year. The employees are evaluated and reviewed on Key Result Areas to assess the skill and further scope and plan for enhancing the skill. organizational effectiveness and individual satisfaction. INTERNAL CONTROL SYSTEM The company has a well placed. the company's net worth is ` 20858. The debt equity ratio is 0. The company's internal control system comprises audit and compliance by in-house Internal Audit Division. 2015. Cartap hydrochloride.43 Lacs to `1735. Finance Costs The finance cost has increased from `1114. Hence the HRM seeks to create a challenging and enjoyable work environment that enables employees to deliver their best.8% SP have been applied during this year.Pr ofit & Mar gin Gr owth Profit Margin Growth The profit before depreciation. Prallethrin. Test Lab has been assessed and accredited in accordance with the standard ISO/IEC 17025:2005 (NABL certification). Fenpyroximate and Emamectin benzoate. T 2012-13 REPORT 18 ANNUAL REPOR .52 Lacs in the previous year. on the job training and out. norms. the company has undertaken a cost reduction decision and programme. Our Insecticides India Limited. employee engagement and succession plan in the best interest if the company. Metalaxyl and Chlorpyriphos processes have been registered by CIB and demonstration of the process of Diafenthuron. an intermediate for the manufacture of Thiamethoxam" was completed in March 2013 which was sanctioned by DSIR. Chartered Accountants. Independence of the audit and compliance is ensured by direct reporting of Internal Audit Division and Internal Auditors to the Audit Committee of the Board.78 in the previous year. The employees' job profiles are prepared keeping in view the skill and enhanced skill of the employees.door training as a continuous process. which ensures that all assets are safeguarded and protected and that the transactions are authorised.75 Lacs and the total debt is `20005. proper and adequate internal control system.3. which has resulted in all round saving in costs. rules and regulations. Profenofos.4-D Ethyl Ester. Ministry of Science and Technology. so that system works on healthy delegation. HUMAN RESOURCES The Management aims to make the IIL an employer of choice and strive to be a progressive high performance group of enterprises. Capital Expenditur e Expenditure During the year. Propargite. 2. Permethrin. focused on identifying and manufacturing high value added complex new molecules. Three process patents of PMIDA.77 Lacs as compared to ` 3301. The net profit was `3531. Training need are identified to meet individual requirements through in-house training . Methribuzin has been given to CIB for registration during the year 2012-13. For the above purpose.96:1. recorded and reported correctly. The Enterprise Risk Management framework and CEO and CFO certification as required under clause 49 of the Listing Agreement with Stock Exchanges for control testing pertaining to financial reporting. MNIO and Acephate 50% + Imidacloprid 1. Transfluthrin.
employees and public). legal & statutory requirements. providing technical education to farmers about new and latest technologies etc to increase their yield and improve their income. for setting up another dedicated R&D center for invention of new agrochemical molecules. women empowerment. which take into account legal requirements and other requirements to which the organization subscribes and information about significant environmental aspects. materials. in order to reduce adverse environmental impacts. Odisa and Rajasthan. techniques. expectations may be forward-looking and are stated as required by applicable securities laws and regulations. emission or discharge of any type of pollutant or waste. which would be different from what the Directors envisage in terms of the future performance and outlook. estimates. embroidery etc. practices. the elements of the OHSAS 18001:1999 Amendment 1:2002 standard and measures stipulated for ensuring the conformance to the Occupational Health & Safety Management System. 2013 ANNUAL REPOR T 2012-13 19 REPORT . Occupational Health & Safety describes the Occupational Health & Safety Management System adopted by the company.We have signed a joint venture with Otsuka Agritechno Company Limited. products. Identifying responsibility towards farmers. where team of agri experts is deputed to train and help the farmers for better agricultural practices. HEAL TH & SAFETY (EHS) ENVIRONMENT. education. HEALTH Environmental Policy for implementing an Environmental Management System (EMS) for meeting the content & purpose of organization's Environmental objectives. Today company has 6 schools adopted in Punjab. in 2009. CAUTIONAR Y ST ATEMENT CAUTIONARY STA Certain statements in the 'Management Discussion and Analysis' describing the Company's objectives. services or energy to avoid.5 lac farmers last year under this campaign. providing vocational education like stitching. to girls and ladies for self-employment. CORPORA TE SUST AINABILITY CORPORATE SUSTAINABILITY Owning its responsibility towards society. This campaign is now running in mostly all the states. ENVIRONMENT . customers. projections. This campaign was very well accepted by the farmers all across the country. and we are happy to mention that we touched more than 1. For and on behalf of the Board Insecticides (India) Limited (Hari Chand Aggarwal) Chairman DIN-00577015 Place : Delhi Dated : July 26. reduce or control the creation. Japan.e. It is undertaking various activities for them such as providing books and study material to children. where it has adopted villages to offer people the basic needs of life healthcare. continual improvement and satisfaction of interested parties (i. The company aims to adopt more villages in other parts of the country as well. Many factors may affect the actual results. giving scholarships and aid for schools. It aims at use of processes. your company had also started a farmer awareness initiative "JAGRUKTA ABHIYAN". suppliers. the company had started a CSR project "Agla Kadam" in Punjab and Rajasthan in 2007.
It has already installed various devices in the factories to control the pollution. Mr. Anil Kumar Singh and Mr.52 13127.81 380.04 3. Cur rent Y Curr Year ear ch 31. if approved at the ensuing Annual General Meeting will be paid to all those Equity Shareholders whose name appear on the Register of Members as on August 19.00) 728. ongoing emphasis on productivity and efficiency. FIXED DEPOSITS The Company continues to accept the deposits under Section 58-A and 58AA of the Companies Act.46 4640. as against the net profit of ` 3301.62 61688. Your Directors have pleasure in presenting the 16th Annual Report and the Audited Accounts for the financial year ended March 31.93 Lacs as against ` 52175. Virjesh Kumar Gupta.10 5644. and as on March 31. Navin Shah and Mr. POLLUTION CONTROL The Company has taken various initiatives to keep the environment free from pollution.01 1109. registering a growth of 7%.77 Lacs.44 330.70 317. 2013.66 Lacs. the net turnover of the company rose to ` 61667. The amount of dividend and the tax thereon aggregates to ` 380. Depr eciation & T Earnings before Interest.15 12429.58 Lacs reported last year.50 per Equity Share).66 1735. The final dividend. RESULTS 1. Pursuant to the provisions of Section 256 of the Companies Act.30 3531.66 464.28 Nil 84. SUBSIDIAR Y COMP ANY SUBSIDIARY COMPANY During the year. registering a growth of 18%.69 908. Mr.78 1114. Mr. FINANCIAL RESUL TS ( ` in Lacs) Par ticulars Particulars Revenue from Operations (Net) Other Income Total Income axation (EBIDT A) e Inter est.52 Lacs reported last year.43 235.66 4294.49 Lacs and ` 64. The Company has earned net profit ` 3531. 2013 there was no overdue deposit with the Company. Navin Shah. 6.93 20. offer themselves for re-appointment. 7. 1956. 2013.07 51. Gopal Chandra Agarwal. improvement in all areas of operation. 1956 and in accordance with Article 89 of the Articles of Association of the Company. Anil Kumar Singh being the Independent & Non-executive Directors. Mr.66 Previous Year March 31. At the end of the year.DIRECTORS’ REPOR T REPORT Dear Members. Hari Chand Aggarwal as Chairman. DIRECTORS Presently your Board constitutes of 8 (Eight) Directors comprising of Mr. T 2012-13 REPORT 20 ANNUAL REPOR . Directors of the Company who retires by rotation in the ensuing Annual General Meeting and being eligible. Nikunj Aggarwal as Whole time Director. 2013 March Mar 61667.89 3301. Depreciation Taxation (EBIDTA) Ear nings befor Less: Finance Costs Depreciation Pr ofit befor e T axation (PBT) Profit before Taxation Less: Current Tax Mat Credit Entitlement Deferred Tax ofit after T ax (P AT) Pr (PA Profit Tax vailable for Appr opriation Available Appropriation Amount A Proposed Final Dividend Income Tax on the Proposed Final Dividend Transfer to General Reserve ried for war d to Balance Sheet carried forwar ward Balance car 2.55 6951. Navneet Goel.00 15051. there were no unclaimed.52 52184. Mrs. 2012 52175. unpaid or overdue deposits. there is no any subsidiary company (ies) of the Company.49 64. Rajesh Aggarwal as Managing Director. Mr.77 15960.00 per Equity Share for the year 2012-13 (Previous year ` 2. The improvement in performance of your company could mainly be attributed to better capacity utilization.94 (730.19 576. REVIEW OF PERFORMANCE During the year under review. Mr.58 8. 4. DIVIDEND The Board of Directors has recommended a final dividend of ` 3. 5.
your company has commenced the production in the new established technical plant situated at Dahej (Gujarat). if made. 1956 with respect to Directors Responsibility Statement. Virjesh Kumar Gupta appointed as an Additional Director with effect from September 25. (Japan) for marketing of their product (Hakama) in India and also entered in technical collaboration with US-based M/s American Vanguard Corporation (AMVAC) regarding manufacturing and marketing of their product (NUVAN) in India. The Board is of the opinion that their association with the company will be beneficial to the company and hence recommend the resolutions for yours approval. Chartered Accountants. None of the Directors of the Company is disqualified for being appointed as Director as specified in Section 274(1)(g) of the Companies Act. iii) iv) ANNUAL REPOR T 2012-13 21 REPORT . A report on the Corporate Governance practices followed by the Company. Sanjeev Bansal resigned from the Board with effect from May 1. the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act. Mr. COST AUDITORS M/s A. The cost audit report for the financial year 2011-12 issued by M/s A. 8. The notes on accounts referred to the Auditors’ Report are self-explanatory and therefore do not call for any further comments. 2013. subject to the approval of Members at the ensuing Annual General Meeting. AUDITORS AND AUDITORS’ REPOR T REPORT The Company recommends the appointment Messer Mohit Parekh & Co. the directors had selected such accounting polices and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit of the company for the year. FOREIGN COLLABORA During the year. and the Directors have prepared the annual accounts on a going concern basis. 11. would be within the prescribed limits under Section 224(1B) of the Companies Act. your company has tied-up with Nissan Chemical Industries. Mr. Nikunj Aggarwal appointed as a Whole-time Director with effect from May 2. Japan to set up a new research and development (R&D) Centre at Chopanki (Rajasthan) for new products in the country. Your Company has also entered in to joint venture (JV) with M/s Otsuka AgriTechno Co. the Auditors’ Certificate on compliance of mandatory requirements thereof and Management Discussion and Analysis are attached to this report. DIRECTORS RESPONSIBILITY ST ATEMENT STA Pursuant to the requirement under Section 217(2AA) of the Companies Act. the applicable accounting standards had been followed along with proper explanation relating to material departures.. Mrs. Cost Auditors.. 2012. The Auditors have also confirmed that they hold a valid certificate issued by the ‘Peer Review Board’ of Institute of Chartered Accountants of India (ICAI).S. 1956 and that they are not disqualified for such appointment within the meaning of Section 226 of the said Act. Segment-wise Results are shown in the Notes to Accounts.S.G. was filed with the Ministry of Corporate Affairs (MCA) on timely. In terms of the requirement of Accounting Standards. 10.Details of the Directors seeking re-appointment as required under Clause 49(VI) of the Listing Agreement entered into with the Stock Exchanges are provided in the Notice forming part of this Annual Report. it is hereby confirmed that: i) ii) in the preparation of the annual accounts. Ltd (OAT). Statutory Auditors of the Company. COMMENCEMENT OF PRODUCTION During the year. 13. 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.G. 2013 due to increased own business growth. Ltd. CORPORA TE GOVERNANCE CORPORATE Your Company has complied with the requirements of Clause 49 of the Listing Agreement regarding Corporate Governance. The Company has received a letter from Messer Mohit Parekh & Co. & Associates. Your directors wish to place on record their sincere appreciation of valuable advice received from them during their tenure as Directors. They hold office up to the date of ensuing Annual General Meeting. 2012 due to not better health and Mr. Cost Accountants were re-appointed as Cost Auditors of the Company for conducting audit of the cost accounts maintained by the Company in respect of Insecticides for the year 2013-14. TION AND JOINT VENTURE COLLABORATION 12. Rajender Pershad Gupta resigned from the Board with effect from September 25. 9. 1956. & Associates. Chartered Accountants to the effect that their appointment.
Bonus. A Statement containing necessary information. THE COMP ANIES (P AR TICULARS OF EMPLOYEES) RULES. Alluances. Rajesh Aggarwal (From April 2012 to March 31. 1975 as amended. 1975 AS AMENDED COMPANIES (PAR ARTICULARS No Employee. marine. public liability. APPRECIA TION APPRECIATION The Directors wish to thank Creditors. flood. Company’s contribution to Providend Fund. Requisite details of remuneration paid to Mr. . is as details herein: Name Designation Age Salary Qualification Total Experience Previous Employement Rajesh Aggarwal Managing Director 43 Years ` 63 Lacs B. 2013 pursuant to the said provisions.14. FOREIGN EXCHANGE EARNINGS & OUTGO 17. 19. CORPORA TE SOCIAL RESPONSIBILITY CORPORATE The Company is contributing to sustainable development by its economic activities combined with the fulfillment of its social responsibilities relating to the education. CASH FLOW ANAL YSIS ANALYSIS The Cash Flow Statement for the year under reference in terms of Clause 32 of the Listing Agreement with the Stock Exchanges is annexed hereto. Rajesh Aggarwal. TECHNOLGY ABSORPTION.Com & Diploma in “Marketing & Formulation of Pesticides)” More than 20 Year HIM Pulverizing Mills Limited Total remuneration includes salary. Managing Director of the Company draw remuneration in excess of limit prescribed under Section 217(2A) of the Companies Act. 2013 T 2012-13 REPORT 22 ANNUAL REPOR . is annexed hereto. Banks and Government Authorities for their continued support. safety and environment aspects. 1956 read with the Companies (Particulars of Employess) Rules. 15. Gratuity and Other Perquisities and benefits valued as per the Income Tax Act. 1988. The Directors also wish to place on record their deep sense of gratitude for the committed services of the Executives Staff and Workers of the Company. 1961. etc. For and on behalf of the Board Insecticides (India) Limited (Hari Chand Aggarwal) Chairman DIN-00577015 Place : Delhi Dated : July 26. We would also like to express sincere thanks to our Shareholders for their confidence and understanding. other than Mr. 16. 18. as required under the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules. health. Investors. INSURANCE The Company has taken the required insurance coverage for its assets against the possible risks like fire. ENERGY ENERGY.
97 9.59 368185 13.28 4.91 42.Samba Unit Units Total Amount Average Rate/Unit Purchase .63 7.78 1194984 72.59 5.95 31000 12.57 g) Ltr.Samba Unit (Through Diesel Generator) Unit Total Amount Average Rate/Unit Own Generation .94 3. further efforts were made to ensure optimum utilization of fuel and electricity.33 243238 13.84 10.ANNEXURE TO THE DIRECTORS' REPOR T REPORT (Under Section 217(1)(e) of the Companies Act.60 39. (` In Lacs) (` ) 34590 14.45 13.Chopanki Unit a) Units Total Amount Average Rate/Unit b) Purchase .Dahej Unit Units Total Amount Average Rate/Unit Purchase .22 6. being implemented for reduction of consumption of energy : Nil iii) Impact of measures at (i) & (ii) above for reduction of energy consumption and consequent impact on the cost of production of goods. 1956 read with Companies (Disclosures of Particulars in the Report of Board of Directors) Rules.92 43. (` In Lacs) (` ) 38500 16.Technical Plant (Chopanki) (Through Diesel Generator) Unit Total Amount Average Rate/Unit Ltr. During the year under review.93 41.79 450780 47.37 277825 13. if any. Conservation of Energy es T aken Energy Conservation Measures Taken i) Ener gy Conser vation Measur Energy conservation efforts are ongoing activities. (` In Lacs) (` ) 11591 4.11 6. Employee awareness was created on how to use fuel and electricity energy efficiently by adopting good shop floor practices.04 4537800 345.62 55880 7.72 h) ANNUAL REPOR T 2012-13 23 REPORT .Udhampur Unit Units Total Amount Average Rate/Unit Own Generation . 1988 is set out as under: A.80 39.91 27450 10. Nil iv) Total energy consumption and energy consumption per unit of production as per Form 'A' FORM 'A' FORM FOR DISCLOSURE OF P AR TICULARS WITH RESPECT TO CONSER VATION OF ENERGY PAR ARTICULARS CONSERV I. Power and Fuel Consumption Analysis Par ticulars Particulars Electricity Purchase .50 41.61 61638 4.Technical Plant (Chopanki) Units Total Amount Average Rate/Unit Purchase .36 14150 5.Chopanki Unit (Through Diesel Generator) Unit Total Amount Average Rate/Unit Own Generation .34 Cur rent Y ear Curr Year Pr evious Y ear Previous Year (` In Lacs) (` ) 85056 7. ii) Additional investments and proposals.67 Nil Nil Nil (` In Lacs) (` ) c) (` In Lacs) (` ) d) (` In Lacs) (` ) e) (` In Lacs) (` ) f) Ltr. 1956) Information as required u/s 217(1)(e) of the Companies Act.
50 0.08 48. (` In Lacs) (` ) 72051 35.35 15600 6.) Furnace Total Cost & Average Rate Other/Internal Other/Inter nal Generation (MT) Total Cost & Average Rate Nil Nil Nil Nil SCM (` In Lacs) (` ) 1723277 625. quality of Pesticides and Insecticides Process development for manufacturing of molecules Improvement in Product Quality Process development work has resulted in cost and time reduction The company has been able to launch products viz. For eign Exchange Ear ning & Outgo Foreign Earning i) ii) Information relating to export is contained in the Director's Report Total Foreign Exchange used and earned T 2012-13 REPORT 24 ANNUAL REPOR .93 291.10 36.Dahej Unit (Through Diesel Generator) Unit Total Amount Average Rate/Unit Ltr.57 117.Udhampur Unit (Through Diesel Generator) Unit Total Amount Average Rate/Unit Ltr. ii) Resear ch and Development (R&D) Research (a) Specific areas in which R&D carried out: (c) Improvement in the overall process.27 Nil 49313 12.22 k) Own Generation . (b) Product improvements have and will continue to result in improved productivity and cost reduction and this will result in improving the profitability of the Company. B.47 (b) Benefits derived as a result of the above R&D Future Plan of Action (d) Expenditure on R&D Par ticulars Particulars Capital Recurring Total Total R&D Expenditure as a percentage of the Turnover C. proper allocation of energy cannot be ascertained. Technology absorption and Resear ch & Development Research i) Technology Absorption (a) The Company has entered in to technical know-how collaboration from foreign organization. Consumption per unit of pr oduction production The Company is a multi-divisional unit. (` In Lacs) (` ) 34574 10. producing a variety of products.70 Nil II.72 j) Own Generation .20 46. Hakama and Numan Development of new Products and Process Amount (` In Lacs) 173.69 9078 4.66 42.i) Own Generation .84 31.Dahej Unit (Through Gas) Unit Total Amount Average Rate/Unit Coal (Quantity) Total Cost & Average Rate Fur nace Oil (KL.67 25.
55 1.02 423.47 For and on behalf of the Board Insecticides (India) Limited (Hari Chand Aggarwal) Chairman DIN-00577015 Place : Delhi Dated : July 26. 2013 ANNUAL REPOR T 2012-13 25 REPORT .73 194.12 13034.Par ticulars Particulars For eign Exchange Used Foreign (On Accrual Basis) Professional Charges Sales Promotion Tour & Travelling Royalty Interest (On CIF Basis) Raw Materials Machinery Total For eign Exchange Ear ned Foreign Earned Export Sales Amount (` In Lacs) 8.53 3.20 12379.21 24.36 18.
Gopal Chandra Agarwal Mr. Sanjeev Bansal Mr. 1 2 3 4 5 6 7 8 Dir ectors Directors Mr. fully places the Board Members in control of the Company's affairs. Hari Chand Aggarwal has re-appointed as Chairman cum Whole-time Director for a further 5 (Five) years with effect from October 1. Independent/Non-executive Directors did not have any material pecuniary relationship or transactions with the Company during the year 2012-13 which may affect their judgments in any manner. Hari Chand Aggarwal* Mr. Anil Kumar Singh Categor y Category Chairman cum Whole-time Director Managing Director Whole-time Director Independent/Non-executive Director Independent/Non-executive Director Independent/Non-executive Director Independent/Non-executive Director Independent/Non-executive Director No. which the management shares with the Board.Rajesh Aggarwal Mr. I. • Ensure that the Board. of which 3 (Three) are Executive Directors and rest 5 (Five) are Independent/Non-executive Directors. • Ensure that the core values of the Company are protected. As on March 31. 2013. Mr. 2013 subject to consent of shareholders in the ensuing General Meeting. 2013. Mr. of Dir ectors Percentage Total Directors 38 62 Nil 100 There is no nominee director. the Employees and all concerned are fully committed to maximizing longterm value to the Shareholders and the Company. The composition of the Board is in conformity with Clause 49 of the Listing Agreement and category wise details as follows: Categor y of Dir ectors Category Directors Executive Directors Independent/Non-executive Directors Other Total Number of Dir ectors Directors 3 5 Nil 8 Per centage (%) to T otal no. aiming to achieve transparent. 2013 and in the Board of Directors meeting held on May 2. Navneet Goel Mr. which comprises all activities that result in the control of the company in a regular manner. accountable and fair management. 2012 in the Board of Directors Meeting held on September 25. of Outside Dir ectorship Directorship Companies Committees None None None None None 1 None None None None None None None None None None *During the year under review. Navin Shah Mr. • Ensure that the Company positions itself from time to time to be at par with any other world class company in operating practices. Rajender Pershad Gupta has resigned from directorship with effect from September 25. BOARD OF DIRECTORS Board (A) Composition of Boar d As on March 31. the composition of the Board of Directors was as under: Sl. • Ensure that the Board exercises its fiduciary responsibilities towards Shareowners and Creditors.REPOR T ON CORPORA TE GOVERNANCE REPORT CORPORATE Your Company has been practicing the principle of good Corporate Governance. Mrs. 2012. The details of the Corporate Governance compliance by the company as per the Clause 49 of the Listing Agreement with Stock Exchanges are as under: COMPANY'S COMP ANY'S PHILOSOPHY The Company's Philosophy on Corporate Governance as adopted by its Board of Directors is to: • Ensure that the quantity. 2013. Sanjeev Bansal from Whole-time Directorship with effect from May 1. quality and frequency of financial and managerial information. Nikunj Aggarwal has appointed as a Wholetime Director of the company for a period of 5 (Five) years with effect from May 2. #Your company has accepted the resignation of Mr. T 2012-13 REPORT 26 ANNUAL REPOR .No. **During the year under review. 2012 subject to consent of shareholders in the ensuing General Meeting. Virjesh Kumar Gupta** Mr. Board of the Company comprises of 8 (Eight) Directors. Virjesh Kumar Gupta has appointed as an additional director of the company and Mr. thereby ensuring high accountability. the Management. • Ensure that the decision-making is transparent and documentary evidence is traceable through the minutes of the meetings of the Board/Committees thereof. appointed by any Financial Institution/Bank on the Board. • Ensure that the extent to which the information is disclosed to present and potential Investors is maximized.
No. ANNUAL REPOR T 2012-13 27 REPORT . None of the Directors of the Board serve as members of more than 10 (Ten) committees nor do they chair more than 5 (Five) committees as per the requirements of the Listing Agreement with the Stock Exchanges. 1 2 3 4 5 6 7 8 9 (E) Members Mr. 2013.com and copy of the Code of Conduct can be inspected at the Registered Office of the Company during the business hours. the information supplied by management to the Board of Insecticides (India) Limited is far ahead of the list mandated under Clause 49 of the Listing Agreement. No stock options were granted to Independent/Non-executive Directors during the year under review. minutes. of Boar d Meetings Board Attended 8 8 8 3 8 8 7 8 3 AGM held on September 25. (D) Meetings and Attendance of the Boar d Board During the financial year 2012-13. 2012 September 25. During the year. (F) Compliance The Company Secretary. The attendance of each director at these meetings is as follows: S. shall be fixed by the Board of Directors and as reviewed by the Remuneration Committee. 2012 (Two) August 13. The copies of Code of Conduct as applicable to the Executive Directors (including Senior Management of the Company) and Independent/Non-executive Directors have been sent to all the Directors and Senior Management Personnel. (ii) All the members of the Board of Directors and Senior Management personnel have affirmed compliance with the Code of Conduct as applicable to them during the year ended on March 31. Hari Chand Aggarwal Mr.(B) (C) Information as required under Clause 49(vi) of the Listing Agreement in respect of Directors being re-appointed forms part of the notice of the ensuing Annual General Meeting. 8 (Eight) Board Meetings were held. etc of the meeting(s). 2012 January 7. 2012 August 29. while preparing the agenda. the Board periodically reviewed compliance report with respect to the various laws applicable to the Company. (G) Code of Conduct (i) The Board of Directors has laid down Code of Conduct for all Board Members and Senior Management of the Company. 1956 read with the Rules issued thereunder and the Secretarial Standards recommended by the Institute of Company Secretaries of India. as prepared and placed before it by the Management. The annual report of the company contains certificate duly signed by the Managing Director & CEO. The dates on which the said meetings were held are as follows: Month May August August September November January February Date May 26. notes on agenda. Sanjeev Bansal Mr. Rajender Pershad Gupta Mr. Gopal Chandra Agarwal Mr. 2013 February 11. Navneet Goel Mr. The Code of Conduct is available on the Company's website www. Independent/Non-executive Dir ectors' Disclosur es Directors' Disclosures All sitting fees paid to Independent/Non-executive Directors. is responsible for and is required to ensure adherence to all the applicable laws and regulations including the Companies Act. Rajesh Aggarwal Mr.insecticidesindia. 2012 Attended Yes Yes Yes Yes Yes Yes Yes Yes No Infor mation Supplied to the Boar d Information Board In terms of quality and importance. 2012. Navin Shah Mr. Virjesh Kumar Gupta No. Anil Kumar Singh Mr. 2012 November 7. 2013 The Last Annual General Meeting of your company was held on September 25.
August 13. No. the Audit Committee was reconstituted. 2012 and February 11. Hari Chand Aggarwal Mr. The Company Secretary & Compliance Officer acts as the Secretary to the Committee. To obtain outside legal or other professional advice. Review of the internal audit report. Hari Chand Aggarwal and Sister's husband of Mr. August 29. The Chairman of the Audit Committee was present at the last Annual General Meeting held on September 25. During the financial year. the financial statements and financial/risk management policies. 1 2 3 Name of Dir ectors Directors Mr. November 7. Discussions with management of the external auditors. To secure attendance of outsiders with relevant expertise. 1992 (SEBI). All members of the committee are financially literate and present Chairman Mr. The Chairman of the Audit Committee is an Independent/Non-executive Director. Audit Committee The Board has established an Audit Committee. 2012. (D) Role of Audit Committee The role of the Audit Committee includes the following: o o o o o Review of the Company's financial reporting process. 2013. Rajesh Aggarwal Mr. Navneet Goel Mr. Review of the adequacy of the internal control systems in the Company. Its composition and functioning is as under: i) ii) iii) iv) v) vi) (B) The Audit Committee consists of the 3 (Three) directors as members and all of them are Independent/ Non-executive Directors. if it considers necessary. The Company inter alia. T 2012-13 REPORT 28 ANNUAL REPOR . 2012. The proper quorum was present in all the Audit Committee Meetings held during the year. prohibition on dealing. Navneet Goel is having the requisite financial management expertise. Sanjeev Bansal Son in law of Mr. To seek information from any employee. The composition of the Audit Committee and number of meetings attended by the Members are given below: Name of Member Mr. the Company has adopted Code of Conduct for Prevention of Insider Trading. Meeting of the Audit Committee During the year under review. Hari Chand Aggarwal and Brother in law of Mr. 2012. Anil Kumar Singh Composition of the Audit Committee Chairman Member Member Number of Meetings Attended 6 6 6 (C) Powers of Audit Committee i) ii) iii) iv) To investigate any activity within its terms of reference.(H) Relationship among the Dir ectors Directors S. II. September 25. 1956 as well as Clause 49 of the Listing Agreement pertaining to the Audit Committee. The Statutory Auditors including his representatives and such other person and official of the company are invited to attend the Audit Committee meetings as and when required. Sanjeev Bansal Son of Mr. (A) Qualified and Independent Audit Committee The Company complies with the provisions of Section 292A of the Companies Act. 2012. communicating or counseling and policy on disclosure as well. 2012. The Audit Committee Meetings were held at the Registered Office and other places. the audit plan for the financial year and joint post audit review of the same. Recommend the Board on appointment/re-appointment of statutory auditors and fixation of audit fee and other fees to auditors. Rajesh Aggarwal and Father in law of Mr. observes closed period of trading. Rajesh Aggarwal (I) Insider T rading Policy Trading Pursuant to the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations. the Audit Committee met (6) Six times: May 26. Gopal Chandra Agarwal Mr. Sanjeev Bansal Relationship with other Dir ectors Directors Father of Mr.
the Investors Grievance/Transfer Committee was reconstituted and presently comprises of 3 (Three) members Mr. No. To carry out any of the functions contained in the Corporate Governance Clause of the Listing Agreement. IV. all of them being Independent/Non-executive Directors. The Committee have met (2) Two times for review and discussion on remuneration of senior management and also review and discussion on remuneration alongwith other terms & conditions for re-appointment of Chairman cum Whole-time Director. Virjesh Kumar Gupta Gupta was the Chairman of the Committee and Mr. Disclosure of contingent liabilities. Management Discussion and Analysis of financial condition and results of operations of the Company. 2. Review the quarterly and half yearly financial results and the annual financial statements before they are submitted to the Board of Directors. to the Non-executive Directors. During the year under review. III. there have no subsidiary company(ies) of the Company. Review of compliance with Listing Agreement and various other legal requirements concerning financial statements and related party transactions. all of them being Independent/Non-executive Directors. IV . the Remuneration Committee was reconstituted and presently comprises of 3 (Three) members Mr. if any. (B) Disclosur e of Accounting T reatment Disclosure Tr There has not been any change in accounting policies of the Company. Virjesh Kuamr Gupta and Mr. Investors Grievance/T ransfer Committee Grievance/Transfer During the year. The reports of Internal Audit. Subsidiar y Company(ies) Subsidiary During the year under review. To appointment of cost auditors and fixation of audit and other fees of such auditors. Mr. all of which were responded to/resolved complains and details of complaints are as follows: Sl. Review of Infor mation by Audit Committee Information The Audit Committee has reviewed the following information during the year: 1. Navin Shah were other members. The Audit Committee and the Board of Directors review these procedures periodically. Disclosur es Disclosures (A) Basis of Related Par ty T ransactions Party Transactions Transactions with related parties are disclosed in notes to the accounts in detail. The Committee is responsible for considering and approving the remuneration and commission of the Managing/ Executive Directors and recommending the fees and commission payable. Anil Kumar Singh were other members. The reports of Statutory Auditors. the committee met (6) Six times to review the investors' services rendered. (C) Risk Management The Company has laid down procedures to inform the Board of Directors about the Risk Management and its minimization procedures. 1 2 Natur e of Complaints Nature Non-receipt of Dividend Warrants in respect of Shares Non-receipt of Annual Report Total Received 2 4 6 Resolved 2 4 6 Pending Nil Nil Nil VI. The Company Secretary (who is also the Compliance Officer) was also present. ANNUAL REPOR T 2012-13 29 REPORT . 4. Remuneration Committee During the year. The Company Secretary (who is also the Compliance Officer) was also present. Mr. 2012. Gopal Chandra Agarwal was the Chairman of the Committee and Mr. 6 (Six) complaints were received. During the year under review. Gopal Chandra Agarwal and Mr. The reports of Cost Auditors.o o o o o o (E) Review of the quarterly and annual financial statements before submission to the Board. V. Rajender Pershad Gupta was a chairman of the committee before accepted his resignation from directorship of the company and chairmanship from the committee. Members were present at the meeting. 3. All physical transfers of shares as well as requests for dematerialisation/rematerialisation have been in the meeting. Rajender Pershad Gupta was a member of the committee on September 25.
The Independent/Non-executive Directors have disclosed that they do not hold any shares and / or any convertible instruments in the company except Mr.30 Sitting Fees 0.20 1. Navin Shah Mr.45 iv) v) vi) Notes: Salary and Perquisites include all elements of remuneration i.05 0.20 1. The Company has not issued any stock options to any of the Directors.70 63. 8. 3. Rajesh Aggarwal Mr. Navneet Goel Mr. 5.executive Directors vis-à-vis the Company during the year under review. There has been no pecuniary relationship or transactions of the Independent/Non. Hari Chand Aggarwal Mr. contains record of the transactions entered in this register. (E) Whistle Blower Policy The Company does not have any Whistle Blower Policy as of now but no personnel is being denied any access to the Audit Committee. Sitting Fees was paid to the Independent/Non-executive Directors.45 Total 56. Compliances i) Mandator y Requir ements Mandatory Requirements Compliance Report of IIL with the applicable mandatory requirements of Clause 49 is as under: Par ticulars Particulars Listing Agr eement Agreement I. Gopal Chandra Agarwal and he is holding the shares of the Company alongwith dependents. Name of Dir ectors Directors Mr. Salary. •Remuneration and Sitting Fees paid/payable to the Directors during the year 2012-13: ( ` in Lacs) S.e. 9.No. The term of Executive Directors does not exceed 5 (Five) years. 6. 1.45 1. Gopal Chandra Agarwal Mr. 4.00 6.20 1. Virjesh Kumar Gupta Salar y & Per quisites Salary Perquisites 56. The Register of Contracts maintained by the Company under Section 301 of the Companies Act. The register is signed by all directors present in Board of Directors Meeting.20 1. There was new appointment of Independent/Non-executive Directors on the Board of Directors of the Company during the year under review.20 1. Rajender Pershad Gupta Mr. Board of Directors (A) Composition of Board (B) Non-executive Directors' Compensation & Disclosures (C) Other Provisions as to Board and Committees D) Code of Conduct II. Incentive and Benefits.20 1. 2. The Company has fulfilled all compliances for holding the said shares.05 0.30 0. 7.(D) Remuneration of Dir ectors Directors i) ii) iii) Remuneration was paid to the Executive Directors during the year.45 1. Sanjeev Bansal Mr. Allowances. 1956.70 63.00 6. Anil Kumar Singh Mr. Audit Committee (A) Qualified & Independent Audit Committee (B) Meeting of Audit Committee (C) Powers of Audit Committee 49 (IIC) (D) Role of Audit Committee (E) Review of Information by Audit Committee 49 (IIB) 49 II(D) 49 (IIE) Clause of es/No Yes/No Status Y 49 I 49(IA) 49 (IB) 49 (IC) (49 (ID) 49 (II) 49 (IIA) Yes Yes Yes Yes Yes Yes Yes Yes Yes Compliance Remarks (F) T 2012-13 REPORT 30 ANNUAL REPOR .
Delhi .30 P. Shah Auditorium. Disclosures (A) Basis of Related Party Transactions (B) Disclosure of Accounting Treatment (C) Board Disclosures (D) Proceeds from Public Issues. The Code of Conduct and corporate disclosure practices framed by the company have helped in ensuring compliance with the requirements.P. c) They accept responsibility for establishing and maintaining internal controls for financial reporting and I have evaluated the effectiveness of internal control systems of the company pertaining to financial reporting and I have disclosed to the auditors and the audit committee. to the best of my knowledge and belief. no transactions entered into by the company during the quarter and year. if any.M.A The Company was not any further issue of shares (E) Remuneration of Directors (F) Management (G) Shareholders V.U. Shah Auditorium. Delhi .U. 2010 August 26. (H) Other Infor Information mation i) CEO and CFO Certification The Managing Director (CEO) and CFO (Chief Financial Officer) have certified to the Board of Directors of the Company that: a) They have reviewed financial statements and the cash flow statement for the year and that to the best of their knowledge and belief: (i) these financial results and statements do not contain any materially untrue statement or omit any material fact nor contain statements that might be misleading.U. Compliance 49 (IV E) 49 (IV F) 49 (IV G) 49 (V) 49 (VI) 49 (VII) Yes Yes Yes Yes Yes Yes y Requir ements ii) Non-mandator Non-mandatory Requirements The Company had not adopted the non-mandatory requirements as mentioned in the Clause 49. ii) War ning against Insider T rading arning Trading Comprehensive guidelines in accordance with SEBI regulations are in place.C. Delhi . Report on Corporate Governance VII. CEO/CFO Certification VI.P. Preferential Issues etc. and (ii) these financial results and statements together present a true and fair view of the company's affairs and are in compliance with existing accounting standards. Shah Auditorium.110054 M. 2012 Venue M. Civil Lines.30 P.30 A. Civil Lines.M. (G) Management i) Management Discussion and Analysis This is given as a separate chapter in the Annual Report.110054 Time 11. 12.Par ticulars Particulars III. ANNUAL REPOR T 2012-13 31 REPORT . deficiencies in the design or operation of internal controls. Civil Lines.P. applicable laws and regulations. which are fraudulent. of which I am aware and the steps that I have taken or propose to take to rectify the identified deficiencies The other information on Corporate Governance Report for the benefit of shareholders is as under: GENERAL BODY MEETINGS Location and time of General Meetings held in the last 3 years: Year 2010 2011 2012 Type AGM AGM AGM Date August 23.M. b) there are. 4.C.C. Rights Issues. Subsidiary Companies Clause of Compliance eement Status Y es/No Agreement Yes/No Listing Agr 49 (III) No Remarks There have no any Subsidiary Company IV. 49 (IV) 49 (IV A) 49 (IV B) 49 (IV C) 49 (IV D) Yes Yes Yes N. The Special Resolutions were passed in the Annual General Meeting 2010 & 2011 and any special resolution was not passed in the Annual General Meeting 2012.110054 M. illegal or violative of the company's code of conduct. 2011 September 25.
viz. 2014 financial results Audited annual results Last week of May. nor has there been any penalty. Delhi .M. read together with the information given in the chapters on Management Discussion & Analysis and Additional Shareholders Information. if any There has been no non-compliance by the company of any legal requirements. Means of Communication (i) Website: The Company's official news and other important investor related information are periodically displayed and updated on the company's website. Auditors' Cer tificate on Corporate Gover nance Certificate Governance The Company has obtained the certificate from its statutory auditors regarding compliance with the provisions relating to Corporate Governance laid down in Clause 49 of the Listing Agreement. : INE 070I01018 T 2012-13 REPORT 32 ANNUAL REPOR . Communication to Shar eholders Shareholders Quarterly.insecticidesindia. C. Dalal Street. Mumbai .Postal Ballot During the year.com (ii) Presentation made to Institutional Investors or to the Analysts: Not Applicable. (v) Date of Book Closur e Closure : August 19. as notified by the SEBI through the Stock Exchanges.110 054 (ii) Financial Y ear Year : April 01. GENERAL SHAREHOLDERS INFORMA TION INFORMATION Annual General Meeting (i) Date. (NSE) "Exchange Plaza" Bandra Kurla Complex. 2014 (iv) Dividend : The Board of Directors have proposed a dividend of ` 3. SEBI or any Statutory Authority on any matter related to capital market during the year. half-yearly and annual financial results have been published in numerous leading dailies. (BSE) P. (vii) Listing of Equity Shar es Shares : Bombay Stock Exchange Ltd. Civil Lines. Mumbai . 2013 financial results Un-audited second quarter Second week of November. 2013 financial results Un-audited third quarter Second week of February. August 27. P. Rastriya Sahara (Hindi) and other magazines related capital markets along with the official press releases. 2012 to March 31. (ix) ISIN No.The National Stock Exchange of India Ltd. Bandra(E). subject to approval by the shareholders in the ensuing Annual General Meeting. 2013 (Both days inclusive) (vi) Payment of Dividend : Dividend will be paid with in 30 days from the date of declaration through account payee/non-negotiable instruments or through the electronic clearing service (ECS).J. (viii) Stock Code : 532851-Bombay Stock Exchange Ltd. 2014 Annual General Meeting August. has been paid by the Company to BSE and NSE. 2013 (iii) Financial Calendar 2013-14 Un-audited first quarter Second week of August. Shah Auditorium. T ime and V enue Time Venue : Friday.400 001 The National Stock Exchange of India Ltd. Repor t on Corporate Gover nance Report Governance This chapter. This certificate is attached with the Directors' Report and will be sent to the Stock Exchanges along with the Annual Report to be filed by the Company. such as Business Standard (English). 2013 to August 27. Towers. Business Standard (Hindi). 2013 9. INSECTICID.00 (30%) per equity share for the financial year 2012-13. M. constitute the compliance report on Corporate Governance. Details of Capital Market Non-compliance.30 A. U.400 051 Annual listing fee for the year 2013-14. stricture imposed on the company by any Stock Exchange. Mint (English). Annual custodian charges of Depository have also been paid to NSDL and CDSL. www. the Company has not passed any resolution through postal ballot.
65 425.95 421.00 419.80 447. Jhandewalan Extension.80 NSE Low 401.00 386.80 416.50 434.00 424.50 442.00 414.00 420.00 421.00 388.10 386.00 429.99 100.05 391.75 401.110 055 Tel No.40 392.10 388.20 405.00 e Price Per for mance in Comparison to Boar d Based Indics (xiv) Stock Market Data & Shar Share Perfor formance Board The Company (IIL) vs BSE & NSE Month 2012 April May June July August September October November December 2013 January February March (Source: BSE & NSE website) High 425.00 406.70 362.25 393.50 356.00 ANNUAL REPOR T 2012-13 33 REPORT .00 361. (011) 4254 1967 Email: firstname.lastname@example.org 375.10 373.17 03.75 443.40 390.90 426. (011) 4254 1234/234 1234 Fax No. of Shar es Shares 557 12197823 484586 12682509 12682966 % to T otal Shar eholding Total Shareholding 0.35 386.80 424.com (xi) Shar e T ransfer System Share Transfer Shares lodged for transfer at the Registrar's address are normally processed and approved by Investors Grievance/ Transfer Committee as and when required.00 412.00 BSE Low 404. (xii) Dematerialisation and Re-materialisation of Shar es Shares During the year under review.00 418.00 379.30 406. New Delhi . 2013 Share Electronic March Par ticulars Particulars Physical Demat NSDL CDSL Sub-Total Total No.(x) Registrar and Shar e T ransfer Agent Share Transfer Alankit Assignments Limited (Unit: Insecticides (India) Limited) Alankit House 2E/21.00 High 420.50 428. 103 shares were re-mataterialised.00 386.00 393.80 416.82 99.00 374.90 424.01 96. (xiii) Shar e held in Physical and Electr onic mode as on Mar ch 31.95 395.40 420.
41 No.31 10.74 1.34 0.48 0. Kritika Aggarwal Top T en (10) Public Shar eholding as on Mar ch 31. Nikunj Aggarwal Mr.85 4.82 11.96 100. of Shar es Held Shares 9472700 Nil 676116 786169 15203 1034383 698395 12682966 % of Shar e-holding Share-holding 74. 2013 Shareholding Pattern March Pr omoters Shar eholding as on Mar ch 31. Hari Chand Aggarwal Master Sanskar Aggarwal ISEC Organics Limited Ms. 2013 Share Pattern March Shar e Ownership Patter Categor y Category Promoter and Promoter Group Mutual Funds Banks / Financial Institutions FIIs NRIs / Foreign Nationals Corporate Bodies Indian Public TOT AL TOTAL No.29 8.32 2.24 1.85 5.27 7. Rajesh Aggarwal Ms.(xv) Distribution of Shar eholdings Shareholdings n as on Mar ch 31. LP Acacia Conservation Fund.16 1. 2013 Promoters Shareholding March Name of Shar eholder Shareholder Mr.92 0.45 0.69 Nil Nil 5.91 4.59 T 2012-13 REPORT 34 ANNUAL REPOR . of Shar es Held Shares 3528600 1434600 1302000 996000 750000 615600 601200 169700 75000 % to T otal Shar eholing Total Shareholing 27. LP Zealous Financial Services Private Limited Acacia Institutional Partners. Pushpa Aggarwal Rajesh Aggarwal (HUF) Hari Chand Aggarwal (HUF) Ms.99 0. of Shar es Held Shares 675000 273830 200363 157114 133000 125274 112900 70168 60413 57500 52490 % to T otal Shar eholing Total Shareholing 5.05 0.55 0.58 1. 2013 Ten Shareholding March Name of Shar eholder Shareholder Life Insurance Corporation of India Acacia Partners. LP SMC Global Securities Limited Acacia Banyan Partners Competent Finman Private Limited United Air Products Private Limited United Air Products Private Limited Fiducian India Fund No.89 0.00 INSECTICIDES (INDIA) LIMITED Shar eholding Patter n as on Mar ch 31.14 10.
1000 1001 .90 9.84 0.301 707 (Rajasthan) 3.100000 100001 . RIICO Industrial Area Chopanki. SIDCO Industrial Growth Centre. Azadpur Commercial Complex.110 033 Tel No. Samba (J&K) 4.30000 30001 . E .5000 5001 . Lusa Tower.66 0. Company Secretaries.442. II D.Shar holding Patter n by Size Sharholding Pattern Categor y Category es) Shares) (No. (Bhiwadi) . (Bhiwadi) .96 1.443-444. E . Dist. the Company has conducted the compliance audit on every quarter basis by a law firm M/s Corporate Professionals Private Limited. carries out the Reconciliation of Share Capital Audit as mandated by SEBI and report on the reconciliation of total issued and listed capital with that of total share capital admitted/held in dematerialized form with NSDL and CDSL and those held in physical form. War arrants Equity The Company has not issued any GDRs / ADRs / Warrants or any Convertible Instruments.75 0. (011) 2767 1990 . Conversion date and likely impact on Convertible Instruments. (xix) Plant Locations Presently. Udhampur (J&K) 5.24 78.66 0. CH-21.Above Total Holders 3655 924 140 76 13 6 5 6 2 6 7 8 4848 Shar es Held Shares 120876 233262 103757 176022 94502 84117 121240 211038 95000 367971 1172181 9903000 12682966 % age 0.com ANNUAL REPOR T 2012-13 35 REPORT .email@example.com 2.20000 20001 .95 1. Centre Battal Ballian.82 1.10000 10001 .39 0.50000 50001 . where the Company's shares are listed.301 707 (Rajasthan) 2. of Shar 1 . your company is engaged in a manufacturing and marketing in agro chemicals and having 5 (Five) Plants located at the following places: 1. (xvii) Reconciliation of Shar e Capital Audit Share M/s Ajay K Goyal & Co. RIICO Industrial Area Chopanki.04 Email . This audit is carried out on quarterly basis and the report thereof is submitted to the Stock Exchanges.100 101 . (xviii) Compliance Audit During the year under review. Delhi . GIDC Industrial Estate.04 Tele Fax No.40000 40001 .500000 500001 . (011) 2767 1990 . Dahej.00 (xvi) Outstanding GDRs / ADRs / W ar rants or any Conver tible Instr uments.500 501 . Bharuch (Gujarat) (xx) Addr ess for Cor respondence Address Corr Investors and Shareholders can correspond with the Registered Office of the Company at the following address: The Company Secretary & Compliance Officer Insecticides (India) Limited 401-402.08 100.
it is neither an audit nor an expression of opinion on the financial statements of the Company. 2013 compliance with the Code of Conduct of the Company laid down for them. 2013 T 2012-13 REPORT 36 ANNUAL REPOR . Managing Director & CEO of Insecticides (India) Limited hereby declare that all the Board Members and Senior Managerial Personnel have affirmed for the year ended on March 31. Place: Delhi Date: July 26.No. Rajesh Aggarwal. No. CHARTERED ACCOUNTANTS (MOHIT A. P AREKH) PAREKH) Proprietor M.402. 2013 (Rajesh Aggarwal) Managing Director & CEO CER TIFICA TE CERTIFICA TIFICATE TO THE MEMBERS OF Insecticides (India) Limited 401 .002067N Place : Delhi Dated : July 26.Declaration by Chief Executive Of ficer (CEO) Officer I.081069 Firm Regn. The compliance of conditions of Corporate Governance is the responsibility of the management. In our opinion and to the best of our information and according to the explanations given to us and the representations made by the Directors and Management. adopted by the Company for ensuring the compliance of the conditions of the Corporate Governance as stipulated in the said Clause. Delhi . 2013. .110 033 We have examined the compliance of conditions of Corporate Governance by Insecticides (India) Limited. Azadpur Commercial Complex. we certify that the Company has complied with the conditions of Corporate Governance as stipulated in Clause 49 of the above mentioned Listing Agreement. Lusa Tower. We further state that such compliance is neither as assurance as to the future viability of the Company nor the efficiency or effectiveness with which the management has conducted the affairs of the Company.. as stipulated in Clause 49 of the Listing Agreement of the said Company with Stock Exchanges. Our examination has been limited a review of the procedures and implementation thereof. for the year ended March 31. For MOHIT P PAREKH AREKH & CO.
The procedures selected depend on the auditor's judgment. 2013 ANNUAL REPOR T 2012-13 37 REPORT . Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. which comprise the Balance Sheet as at March 31. the auditor considers internal control relevant to the company's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. The Members of INSECTICIDES (INDIA) LIMITED Repor t on the Financial Statements Report We have audited the accompanying financial statements of INSECTICIDES (INDIA) LIMITED. 2013. Statement of Profit and Loss. 2013. we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.002067N Place : Delhi Dated : May 25. b) In our opinion proper books of account as required by law have been kept by the company so far as appears from our examination of those books c) The Balance Sheet. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. and taken on record by the Board of Directors. the Statement of Profit and Loss and Cash Flow Statement for the year then ended and a summary of significant accounting policies and other explanatory information. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. we report that: a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit. of the cash flows for the year ended on that date. 2013. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management. P AREKH) PAREKH) Proprietor M. d) In our opinion. 1956 ("the Act").081069 Firm Regn. whether due to fraud or error. For MOHIT P PAREKH CHARTERED ACCOUNTANTS (MOHIT A.No. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. whether due to fraud or error. and Cash Flow Statement comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act.. 2. 2003 ("the Order") issued by the Central Government of India 1. and c) in the case of the Cash Flow Statement Statement. the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: a) in the case of the Balance Sheet Sheet. of the state of affairs of the Company as at March 31. in terms of sub-section (4A) of Section 227 of the Act. 1956. In making those risk assessments.INDEPENDENT AUDITOR'S REPOR T REPORT To. as well as evaluating the overall presentation of the financial statements. the Balance Sheet. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement. 1956. 2013. from being appointed as a director in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act. This responsibility includes the design. none of the directors is disqualified as on March 31. Statement of Profit and Loss. and Cash Flow Statement dealt with by this Report are in agreement with the books of account. . of the profit for the year ended on that date. No. including the assessment of the risks of material misstatement of the financial statements. Repor t on other Legal & Regulator y Requir ements Report Regulatory Requirements As required by the Companies (Auditor's Report) Order. Opinion In our opinion and to the best of our information and according to the explanations given to us. e) On the basis of written representations received from the directors as on March 31. financial performance and cash flows of the company in accordance with the accounting principles generally accepted in India including Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act. Management's Responsibility for the Financial Statements Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position. ofit and Loss b) in the case of the Statement Pr Profit Loss. AREKH & CO. As required by Section 227(3) of the Act.
The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets on the basis of available information. Service Tax. granted or taken by the company to /from companies. In our opinion. the transactions made in pursuance of contracts or arrangements. 2. the inventories have been physically verified by the management at regular intervals during the year and in our opinion the frequency of verification is reasonable. the procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business. b. 8. the Company has not accepted any deposits from the public during the year under audit within the meaning of Section 58A and Section 58AA of the Companies Act. Employees State Insurance. As explained to us. Sales Tax. (b) 4. 1956: a. Excise Duty. According to the information and explanations given to us. secured or unsecured. As explained to us. 1956. Income Tax. the Company has been regular in depositing undisputed statutory dues including Provident Fund. Firm(s). 1956 and are of the opinion that prima facie the prescribed cost records have been maintained. In our opinion and according to the information and explanations given to us. Firm (s) or other parties covered in the register maintained u/s 301 of the Companies Act. 7. In respect of transactions covered under Section 301 of the Companies Act. the Fixed Assets have been physically verified by the management in a phased periodical manner. coverage of internal audit function carried out by a firm of chartered accountants appointed by the management as well as company's internal audit department is commensurate with the size of the company and nature of its business. 6. firms or other parties covered in the register maintained u/s 301 of the Companies Act. wherever applicable. Cess and other statutory dues with the appropriate authorities during the year. c. the transactions made in pursuance of contracts or arrangements entered in the register maintained under Section 301 of the Companies Act. In our opinion and according to the information and explanations given to us. The Company has maintained proper records of inventories. In respect of its Inventories: a. the Investor Education & Protection Fund is not applicable to the company during the year under consideration. 1956. In our opinion. b. which in our opinion is reasonable. On the basis of internal audit reports broadly reviewed by us. 2011 prescribed by the Central Government under Section 209(1) (d) of the Companies Act. We have broadly reviewed the cost records maintained by the company pursuant to the Companies (Cost Accounting Records) Rules. No material discrepancies were noticed on such physical verification. Therefore the provisions of clause (vi) of paragraph 4 of the Order are not applicable to the Company. fixed assets and also for the sale of goods and services. there was no material discrepancies noticed on physical verification of inventory as compared to the book records.ANNEXURE TO INDEPENDENT AUDITOR'S REPOR T REPORT 1. 1956 have been so entered. the company has not disposed off substantial part of fixed assets during the year and the going concern status of the company is not affected. The Company is regular in repaying the principal amounts as stipulated and has been regular in the payment of interest. In respect of its Fixed Assets: a. 9. During the course of our audit. the rate of interest and other terms and conditions on which loans have been taken are prima facie not prejudicial to the interest of the company. b. In our opinion and according to the information and explanations given to us. Wealth Tax. not made a detailed examination of the cost records with a view to determine whether they are accurate or complete. 1956: (a) The Company has obtained unsecured loans from the Companies. no major weaknesses have been noticed in internal controls system. 5. In our opinion and according to the information and explanations given to us. According to the records of the company apart from certain instances of delay in depositing the undisputed statutory dues. having regard to the size of the company and nature of its assets. however. The Company has not granted any loans secured or unsecured to the Companies. Custom Duty. that needed to be entered in the register maintained u/s 301 of the Companies Act. or other parties covered in the register maintained u/s 301 of the Companies Act. T 2012-13 REPORT 38 ANNUAL REPOR . As explained to us. we are of the opinion that. there are adequate internal control procedures commensurate with the size of the company and the nature of its business for the purchase of inventory. 1956 and exceeding the value of ` Five Lacs in respect of any party during the year have been made at prices which appear reasonable as per the information available with the company. In respect of Statutory Dues: a. 1956. c. 3. In respect of the loans. According to the information and explanations given to us. We have.
. the disputed statutory dues aggregating to ` 254. debentures and other investments during the year. In our opinion and according to the information and explanations given to us.42 2. 17. the Company has not made any preferential allotment of shares to parties.081069 Firm Regn.No. The Company has not issued any debenture during the year. N. 10. the Company is not dealing or trading in shares.72 14. the Company has not given any guarantees for loans taken by others from banks or financial institutions. 14. 21. Therefore the provisions of clause (xiii) of paragraph 4 of the Order are not applicable to the Company.No. 16. the Company is not a Chit fund or a Nidhi/Mutual Benefit Fund/Society. the term loans availed by the company were prima facie applied for the purposes for which they were raised. According to the information and explanations given to us. 18. In our opinion and according to the explanations given to us and based on the information available. CHARTERED ACCOUNTANTS (MOHIT A.Y.1944 Central Excise Act. 19. 2013 ANNUAL REPOR T 2012-13 39 REPORT . 2013 for a period of more than six months from the date of becoming payable. no fraud on or by the company has been noticed or reported during the year that causes the financial statements to be materially misstated.1944 Sales Tax Act Income Tax Act Natur e of Nature Dues Excise Duty Excise Duty Sales Tax Income Tax Period to elates relates which it r Mar'02 to Oct'02 Sep'04 to Aug'07 2009-10 A. For MOHIT P PAREKH AREKH & CO. According to the records of the Company. debentures and other securities. No. we are of the opinion that the Company has not defaulted in repayment of dues to financial institutions or banks. During the year. Delhi Amount in Lacs 75.002067N 13.99 c. In our opinion and according to the information and explanations given to us. the Company has not granted loans and advances on the basis of security by way of pledge of shares. According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company. no undisputed amounts payable in respect of the aforesaid dues were outstanding as at March 31. The Company has not raised money by way of public issue during the year. To the best of our knowledge and belief and according to the information and explanations given to us. The Company does not have accumulated losses at the end of the financial year and has not incurred any cash loss during the financial year covered by our audit or in the immediately preceding financial year. firms and companies covered in the Register maintained under Section 301 of the Companies Act. 1 2 3 4 Name of the Statute Central Excise Act. In our opinion. Place : Delhi Dated : May 25.b. securities.. we are of the opinion that there are no funds raised on short-term basis that have been used for Long Term Investment and similarly no funds raised on Long-Term basis that have been used to finance Short-Term assets except core working capital.80 Lacs that have not been deposited on account of disputed matter pending before Appropriate Authorities are as under: S. 1956.-2010-11 For um wher e Forum where Dispute is Pending Appellate Tribunal-New Delhi Appellate Tribunal-New Delhi Commercial Tax Circle. P AREKH) PAREKH) Proprietor M. 11. Based on our audit procedures and according to the information and explanation given to us. 20. 12. According to the information and explanations given to us.67 161. Samba (J & K) CIT (A). 15.
27 3008.No. 2013 AMOUNT (In Lacs) AS AT MARCH 31. .081069 Fir m Regn.60 22155.28 1149.08 1 to 2 3 to 49 FOR AND ON BEHALF OF THE BOARD 4871.43 1775.53 57.04 4566. 2012 AMOUNT (In Lacs) A EQUITY AND LIABILITIES eholder's Funds Shareholder's Shar (a) Share Capital (b) Reserves & Surplus Non-Cur rent Liabilities Non-Curr (a) Long-Term Borrowings (b) Deferred Tax Liabilities (Net) (c) Other Long-Term Liabilities (d) Long-Term Provisions Cur rent Liabilities Curr (a) Short-Term Borrowings (b) Trade Payables (c) Other Current Liabilities (d) Short-Term Provisions TOT AL TOTAL ASSETS Non-Cur rent Assets Non-Curr (a) Fixed Assets (i) Tangible Assets (ii) Intangible Assets (iii) Capital Work-in-Progress (b) (c) Long-Term Loans and Advances Other Non-Current Assets 3 4 1268.45 13067.70 14322. No.10 483.02 63214.03 11515.61 2441.08 2763.67 8921.002067N Firm Place : Delhi Date : May 25.11 4629.64 305.81 222.14 52029.72 68. PAREKH Chartered Accountants (MOHIT A P AREKH) PAREKH) Proprietor M.35 63214.12 1018. 2013 SANDEEP AGGAR AGGARW WAL CHIEF FINANCIAL OFFICER HARI CHAND AGGAR WAL AGGARW CHAIRMAN RAJESH AGGAR WAL AGGARW MANAGING DIRECTOR NIKUNJ AGGAR AGGARW WAL WHOLE TIME DIRECTOR PANKAJ GUPT GUPTA A COMPANY SECRETARY T 2012-13 REPORT 40 ANNUAL REPOR .71 3825. .66 13 14 3160.08 1268.73 22535.98 2646.10 3398. 2013 AT PAR TICULARS ARTICULARS NOTES AS A T AT MARCH 31.68 34851.97 21222.64 4918.70 4486.79 16997.05 11846.04 11650.88 18521.44 2550.62 254.36 17178.30 16948.08 383.32 37425.36 1774.58 Cur rent Assets Curr (a) Inventories (b) Trade Receivables (c) Cash and Cash Equivalents (d) Short-Term Loans and Advances (e) Other Current Assets TOT AL TOTAL Significant Accounting Policies Notes on Financial Statements 15 16 17 18 19 The accompanying notes are an integral part of the financial statements.BALANCE SHEET AS A T MARCH 31.41 18216.84 52029.47 473.44 20241. Auditor's Repor t Report As per our separate report of even date annexed herewith For MOHIT P AREKH & CO.58 5 6 7 8 9 10 11 B 12 13651.12 9196.71 29406.49 4406.01 289.25 41058.59 469.30 19953.
work-in-Progress and Traded Goods Employee Benefits Expense Depreciation and Amortization Expenses Finance Costs Other Expenses Total Expenses Pr ofit Befor e T ax Profit Before Tax Tax Expenses Current Tax Mat Credit Entitlement Deferred Tax Tax Total T ax Expenses Pr ofit for the year Profit 20 21 65017.68 235.30 1108. 2013 STA PAR TICULARS ARTICULARS NOTES For the Y ear Ended Year MARCH 31.64 52175.10 37532. PAREKH Chartered Accountants (MOHIT A P AREKH) PAREKH) Proprietor M.62 61688.93 57048.002067N Firm Place : Delhi Date : May 25.51 52184.38 2939.48) 22 23 24 25 26 27 28 2683. 2012 AMOUNT (In Lacs) CONTINUING OPERA TIONS OPERATIONS INCOME Revenue from Operations (Gross) Less: Excise Duty Revenue from Operations (Net) Other Income Total Revenue EXPENSES Cost of Raw Material and Components Consumed Purchase of Traded Goods (Increase)/ Decrease in Inventories of Finished Goods. 2013 AMOUNT (In Lacs) For the Year Ended MARCH 31. .46 1735. 2013 SANDEEP AGGAR AGGARW WAL CHIEF FINANCIAL OFFICER HARI CHAND AGGAR WAL AGGARW CHAIRMAN RAJESH AGGAR WAL AGGARW MANAGING DIRECTOR NIKUNJ AGGAR AGGARW WAL WHOLE TIME DIRECTOR PANKAJ GUPT GUPTA A COMPANY SECRETARY ANNUAL REPOR T 2012-13 41 REPORT .59 8.13 61667.17 3301.77 192.06 3349.21 47889.55 37119.081069 Fir m Regn.ST ATEMENT OF PROFIT & LOSS FOR THE YEAR ENDED ON MARCH 31.77 27.03 Ear nings per Equity Shar e of face value ` 10 each Earnings Share Basic & Diluted (in `) Significant Accounting Policies Notes on Financial Statements 1 to 2 3 to 49 The accompanying notes are an integral part of the financial statements.00) 728.53 (4669.52 26.43 9007.54 4640.01 1109.85 1729.66 1114.10 4157.94 (730.23 3232.28 84.19 10583.93 20. FOR AND ON BEHALF OF THE BOARD Auditor's Repor t Report As per our separate report of even date annexed herewith For MOHIT P AREKH & CO.24 3531.No.41 4294. No.89 993.78 576.69 908.31 55408. .
90 13.81 907.56) Less: Income Tax/ Wealth Tax Less: Preliminary Expenses Incurred Net Cash Fr om Operating Activities (A) From B CASH FLOW FROM INVESTING ACTIVITIES .14) 4294.37) (1866.69 235.79) 1221.62) 1187.26) (60.02 6275.07 8.63 1182.94 (859.51) Interest Expenses ofit Befor e W orking Capital Changes Profit Before Working Operating Pr Adjustments for (Increase)/Decrease in Trade Receivables (Increase)/Decrease in Inventories (Increase)/Decrease in Other Receivables: (a) (c) Short Term Loans & Advances Other Current Assets (b) Long Term Loans & Advances ------------------------- (625.51) 1114.725.34 (20.80) 2.88 (8.41 (2729.Addition to Fixed Assets . 2013 STA PAR TICULARS ARTICULARS For the Y ear Ended Year MARCH 31.CASH FLOW ST ATEMENT FOR THE YEAR ENDED MARCH 31.60) (7664.67) (132.39 Increase/(Decrease) in Trade Payables Increase/(Decrease) in Other Payables: (a) Long Term Liabilities (b) Other Current Liabilities (c) Provision for Expenses 260.57) (2720.46 (109.70) (833.01 576. 2012 AMOUNT (In Lacs) A CASH FLOW FROM OPERA TING ACTIVITIES OPERATING eT ax Profit Before Tax Net Pr ofit Befor Adjustment for Depreciation & Amortisation (Profit)/ Loss on Sale of Assets Preliminary Expenses Written Off Interest/Other Income 4640.14) 55. 2013 AMOUNT (In Lacs) For the Year Ended MARCH 31.52) 308.Sale of Fixed Assets .Interest /Other Income .71) (4974.96 (1068.09) (5564.51 (5500.66 13.89) (3591.43 5663.64 20.99) 1902.(Addition) Disposal/Sales of Investments Net Cash Fr om Investing Activities (B) From T 2012-13 REPORT 42 ANNUAL REPOR .50) (31.93) (2.08) (229.34 935.16) (2293.53 (1706.79 13.62 (4645.
43) (317.Dividend Paid .08 NOTES: 1.Distribution Tax Paid Net Cash Fr om Investing Activities (C) From Net Cash Flow during the year (A+B+C) Cash and Cash Equivalents Opening Balance Cash and Cash Equivalents Closing Balance 11975. The Cash Flow Statement has been prepared under the "Indirect Method" as set out in the Accounting Standard 3 "Cash Flow Statement" issued by The Institute of Chartered Accountants of India.19 (1114.PAR TICULARS ARTICULARS For the Y ear Ended Year MARCH 31.60 374.00 (1305.002067N Firm Place : Delhi Date : May 25.48 1775. Previous year's figures have been re-classified to confirm with current year's presentation. 2013 AMOUNT (In Lacs) 5027. . 2013 SANDEEP AGGAR AGGARW WAL CHIEF FINANCIAL OFFICER HARI CHAND AGGAR WAL AGGARW CHAIRMAN RAJESH AGGAR WAL AGGARW MANAGING DIRECTOR NIKUNJ AGGAR AGGARW WAL WHOLE TIME DIRECTOR PANKAJ GUPT GUPTA A COMPANY SECRETARY ANNUAL REPOR T 2012-13 43 REPORT .25 1400.44) 10492. FOR AND ON BEHALF OF THE BOARD As per our separate report of even date annexed herewith For MOHIT P PAREKH AREKH & CO.07) (51.07) (51. wherever considered necessary.11 For the Year Ended MARCH 31.97) 1775. 2012 AMOUNT (In Lacs) C CASH FLOW FROM FINANCING ACTIVITIES .53 (1187.No.44) 3472.02) (317. . Chartered Accountants (MOHIT A P AREKH) PAREKH) Proprietor M.Interest paid .081069 Fir m Regn. 2. No.Proceeds from Borrowing/Loans .08 469.
the difference between the year end rate and rate on the date of contract is recognized as exchange rate difference and the premium paid on forward contracts is recognized over the life of the contract. The Financial Statements have been prepared in accordance with the relevant presentational requirement of the Companies Act 1956. net charges on foreign exchange contracts and adjustments arising from exchange rate variations attributable to the intangible assets are capitalized. In case of items which are covered by forward exchange contracts. 1956 as amended up to date. Sales Tax/ Value Added Tax). The Company is engaged in the manufacturing activities of Agro Chemicals. Pur chases Purchases Purchases are net of rebate/special discounts. All costs. Other Income: Interest Income is recognized on time proportion basis taking in to account the amount outstanding and the rate applicable. SIGNIFICANT ACCOUNTING POLICIES A. excise duty.e. E. Provision for diminution in the value of long term investments is made only if such decline is other than temporary. Transactions denominated in foreign currencies are recorded at the exchange rate prevailing on the date of the transaction or that approximates the actual rate at the date of the transaction. Turnover includes Sales of Goods & Excise Duty (Net of Sales Returns. D . Depreciation on assets acquired/disposed off during the year has been provided on pro-rata basis with reference to the date of use/addition/disposal. Depr eciation & Amor tisation Depreciation Amortisation Depreciation on Fixed Assets has been provided on Straight Line Method over their useful life as per the classification. b. Revenue Recognition Revenue is recognized only when it can be reliably measured and it is reasonable to expect ultimate collection. net charges on foreign exchange contracts and adjustments arising from exchange rate variations attributable to the fixed assets are capitalized. 2013 March 1.Significant Accounting Policies for the year ended on Mar ch 31. including financial costs till commencement of commercial production. CORPORA TE INFORMA TION CORPORATE INFORMATION Insecticides (India) Limited (The Company) is a public company domiciled in India and incorporated under the provisions of the Companies Act. Long Term Investments. are stated at cost. Difference between the estimates and actual results are recognized in the period in which the results are materialized. Pesticides and Technical Products for agriculture purposes. Intangible Assets are amortized on Straight Line Method over their useful life. Sales of Goods: Sale are recognized when substantial risks and rewards of ownership in the goods transferred to the buyer. I. T 2012-13 REPORT 44 ANNUAL REPOR . rates and manner prescribed in Schedule XIV of the Companies Act. Investments Current Investments. Monetary items denominated in foreign currency at the year end are restated at the year end rate. Accounting Convention Accounts are prepared on the basis of historical cost convention. are stated at lower of cost or fair value determined on individual investment basis. G. Intangible Assets Intangible Assets are stated at cost of acquisition net of recoverable taxes less accumulated amortization. including financial costs till commencement of commercial production. Bombay Stock Exchange Limited and National Stock Exchange Limited) in India. 2. goods returned etc. if any. F. H. C. if any. A summary of important accounting policies which have been applied consistently are set out below. usually on delivery of the goods. Accounting Policies not specifically referred to otherwise. Its shares are listed on two Stock Exchanges (i. All costs. are consistent and in consonance with generally accepted accounting principles. For eign Cur rency T ransactions Foreign Curr Transactions a. followed by the Company. The Company caters to both domestic and international markets. 1956. Use of Estimates The preparation of financial statements requires certain assumptions and estimates to be made that affect the reported amount of Assets & Liabilities on the date of Financial Statements and the reported amount of Expenses and Income during the reporting period. J. B. Leased Assets The Company do not have any leased assets. Tangible Fixed Assets (Owned) Fixed Assets are stated at cost of acquisition net of recoverable taxes and includes all attributable cost for bringing the assets to its working condition for its intended use less accumulated depreciation.
N. ch & Development Q. process chemicals. The Bonus is accounted for on accrual basis. payments made in respect of goods cleared and also provision made for goods lying in Branches/Factories. trading and other products are determined on weighted average basis. cost of conversion and other costs including manufacturing overheads incurred in bringing them to their respective present location and condition. premium paid. All other borrowing costs are recognized as expense in the period in which they are incurred. U. they are adjusted to the carrying cost of such assets. Provision for Wealth Tax is made after availing exemptions & deductions at the rate(s) applicable under the . when carrying cost of assets exceeds its recoverable amount. M. Any Gain or Loss on account of exchange difference either on settlement or on translation is recognized in the Statement of Profit & Loss except in case they relate to acquisition of fixed assets. Claims by or against the company are accounted when acknowledged/accepted/settled/received. they are adjusted to the carrying cost of such assets. T. ANNUAL REPOR T 2012-13 45 REPORT . if any. L. A qualifying asset is an asset that requires a substantial period of time to get ready for its intended use or sale. Pr ovision for Cur rent & Def fer ed T ax Provision Curr Deffer fered Tax Provision for income tax is made after availing exemptions & deductions at the rate(s) applicable under the Income Tax Act. Bor rowing Costs Borr Borrowing Costs that are attributable to the acquisition. Wealth Tax Act. Cost of inventories comprise of cost of purchase. Inventories The items of Inventories are measured at lower of cost and net realizable value after providing for obsolescene. stores and spares packing materials. P. An impairment loss is charged to the Statement of Profit & Loss in the year in which an asset is identified as impaired. Financial Derivatives Hedging T ransactions Transactions In respect of derivatives contracts. construction or production of a qualifying asset are capitalized as part of cost of such asset till such time as the asset is ready for its intended use or sale. The deferred tax assets is recognized and carried forward only to the extent that there is reasonable certainty that the assets will be realized in future. gain/loss on settlement and losses on restatement are recognized in the Statement of Profit & Loss except in case they relates to the acquisition or construction of fixed assets. V. Resear Research The expenditure on Research & Development is recognized as an expense in the Statement of Profit & Loss on an accrual basis. Pr oposed Dividend Proposed Dividend proposed by the Board of Directors is provided for in the books of accounts pending approval at the Annual General Meeting. The fixed assets acquired for carrying out the research & development activities are capitalized and depreciation thereon is recognized as an expense in the Statement of Profit & Loss. Impair ment of Assets Impairment An asset is treated as impaired. if any. Retir ement Benefits Retirement a) Contribution to provident fund and family pension fund are accounted for on accrual basis. 1957 for the year under consideration. c) The Company has Gratuity Fund covered by the scheme with LIC of India. K. O. Non monetary foreign currency items are carried at cost. Deferred tax resulting from “Timing Difference” between book and taxable profit is accounted for using the tax rates and laws that have been enacted or substantively enacted as on the balance sheet date. Cost of raw material. R. Interest on Late Payments by the Customers & to the Suppliers and differential interest to the Bankers are accounted for on acceptance basis.c. The impairment loss recognized in prior accounting period(s). 1961 for the year under consideration. b) Leave Encashment Benefits are accounted for on cash basis. Excise Duty Excise duty is accounted on the basis of both. d. The expenses towards gratuity are recognized in the Statement of Profit & Loss on the basis of an Actuarial Valuation based on projected unit credit method carried out at the year-end. S. is reversed if there has been a change in the estimate of the recoverable amount.
Udhampur & Dahej Units in earlier years as well as during the year. Contingent Liabilities are not recognized but are disclosed in the notes.Each (Out of the above shares 1550500 Equity Shares are alloted as fully paidup Bonus Shares) TOT AL TOTAL As At Mar ch 31.30 Equity Shares at the beginning of the period Issued during the year period Outstanding at the end of the period 3(b) Rights. the equity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amount. During the financial year ended on March 31.00 (Previous Year ` 2.00 1268. the amount of per share dividend recognized as distributions to equity shareholders was ` 3. SHARE CAPIT AL CAPITAL PAR TICULARS ARTICULARS Authorised Shar es Capital Shares 15000000 (Previous Year 15000000) Equity Shares of ` 10/.30 1268. Y.82 11.32 As At March 31. 2013 March ( ` in Lacs) Number of Shar es Shares 12682966 12682966 1268. Pr efer ences and Restrictions attached to Shar es Prefer eferences Shares The Company has only one class of equity shares having a par value of ` 10 per share. 2012 March ( ` in Lacs) (` In Lacs) 1500. 2013 March Number % Held of Shar es Shares 3528600 1434600 1302000 996000 750000 697844 675000 27.91 5.30 1268. Cunniff & Goldfarb Inc A/c Life Insurance Corporation of India T 2012-13 REPORT 46 ANNUAL REPOR .85 5.31 10.30 1268. in proportion to their shareholding.31 10. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. 2013 As At March 31. Contingent Assets are neither recognized nor disclosed in the financial statements. the MAT Credit available is treated as an “Asset” if the MAT credit has expected future economic benefits in the form of its adjustment against the discharge of the normal tax liability if the same arises during the specified period and accordingly the necessary provisions has been made by the company during the year. Pr ovisions. Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. X.30 1268. The Company has already initiated the process and entitled for subsidy on account of certain revenue and capital nature of expenditures incurred at Samba. Subscribed & Paid-Up Shar es Capital Shares 12682966 (Previous Year12682966) Equity Shares of ` 10/. 2013. In terms of the Guidance Note issued by the Council of the Institute of Chartered Accountants of India “on accounting for credit available in respect to MAT under the Income Tax act”.27 7. The same shall be accounted for on cash/acceptance basis as under: Subsidy of capital nature and related to specific Fixed Asset shall be deducted from the gross value of assets.Each Issued.50 5.30 3(a) Reconciliation of the Shar es outstanding at the begning and at the end of the r epor ting period Shares repor eporting PAR TICULARS ARTICULARS As At Mar ch 31.50) 3(c) The details of Shar eholders holding mor e than 5% Shar es Shareholders more Shares Name of the Shar eholder Shareholder As At Mar ch 31. Contingent Liabilities.30 1268.30 As At March 31.85 5.50 - Rajesh Aggarwal Pushpa Aggarwal Rajesh Aggarwal (HUF) Hari Chand Aggarwal (HUF) Nikunj Aggarwal Ruanne. In the event of liquidation of the company. Subsidy related to revenue shall be recognized in the Statement of Profit & Loss to match them with related costs. MA T Cr edit Entitlements MAT Credit The Company is liable to pay income tax u/s 115JA & 115JB of the Income Tax Act during the year. The Company declares and pays dividends in Indian Rupees. 3. 2012 Number % Held of Shares 3528600 1434600 1302000 996000 750000 697844 27. Contingent Assets Provisions.00 1500. Each shareholder is eligible for one vote per share held.82 11.W.91 5. 2012 Number (` in Lacs) of Shares 12682966 12682966 1268.27 7.
the loan has been guaranteed by the personal guarantee of the directors. Further. Dahej (Gujarat). 2013 As At March 31.01 105.65 Cur rent Curr As At March 31. Rajesh Aggarwal.16 3008.72 Lacs) has been secured by the first charge over Plant and Machineries situated at CH-21.50 371.12 1126.00 1656.52 As At Mar ch 31.04 3531.` 2569. Securities Pr emium Account Premium B.07 12429.38 25. These loans are repayable in 36 monthly installments from the date of the loans along with interest rates ranging between 11 to 13% per annum. Surplus/(Deficit) in Statement of Pr ofit and Loss Profit Opening Balance Add: Profit/(Loss) for the year Less: Appropriations Proposed Final Equity Dividend [Dividend per share `3.97 (190.15 1192.96 2938. GIDC Industrial Estate.41 51.00 1126.91) 16948.4. For eign Cur rency T Foreign Curr Translation Reserve ranslation Reser TOT AL RESER VE AND SURPLUS TOTAL RESERVE 64.97) 19953.44 330.01 514. Dahej (Gujarat).77 9826. the Company has entered into the derivative contract for hedging of the currency swaps and interest rate swaps.Mr. Vehicles Loans have been guaranteed by the personal guarantee of the directors.65 117.31 Lacs (Previous Year -` 1533. Hari Chand Aggarwal and Mr.85 Lacs (Previous Year .15 1192. Further.04 (271.66 464. The interest is to paid on quarterly basis at Libor plus 2. 2012 March (` in Lacs) ( ` in Lacs) 3518.Mr. LONG TERM BORROWINGS Par ticulars Particulars As At Mar ch 31. ANNUAL REPOR T 2012-13 47 REPORT . Hari Chand Aggarwal and Mr. 2013 March ( ` in Lacs) Nonrent Curr Cur (A) Ter m Loans erm Indian Rupees Loan from Banks-Vehicle Loans Indian Rupees Loan from Banks-Term Loan (Secured) Foreign Currency Loans from Banks (Secured) 69.00 3825.15 861.34 37.81 514.00 12429. General Reserve Opening Balance Add: Transferred from surplus in Statement of Profit and Loss Closing Balance C.13 464.38 68.49 317.15 380. Further.12 (B) Loans and Advances fr om Related Par ties from Parties Unsecured TOT AL TOTAL 3008. Hari Chand Aggarwal and Mr. Rajesh Aggarwal.5%.50)] Tax on Proposed Equity Dividend Transfer to General Reserve 15051.00 (Previous Year ` 2. GIDC Industrial Estate.98 330. the loan has been guaranteed by the personal guarantee of the directorsMr. Further.13 3518. (ii) The Foreign Currency Outstanding Loan Amounting to ` 1401.66 ve D. Rajesh Aggarwal.38 1009.64 3800.37 3731. RESER VES AND SURPLUS RESERVES PAR TICULARS ARTICULARS A.18 3301. (iii) The Foreign Currency Outstanding loan amounting to ` 2545. 2012 (` in Lacs) NonCurrent Current (a) Natur e of Security and T er ms of Repayment for Secur ed Bor rowing: Nature Ter erms Secured Borr (i) Term Loans from Banks for vehicles have been secured by hypothecation of vehicles.13 5.73 Lacs) has been secured by the exclusive first charge over assets being financed including Land & Building and Plant & Machineries situated at CH-21. The outstanding loan is repayable in 14 quarterly instalments.
Further.00 7459.59 3555.49 As At Mar ch 31.00 159. Samba Unit (J&K). The year end balance of loan from related parties is NIL.69 16997. 2012 March ( ` in Lacs) 13067.76 3023.72 40. 2013 As At March 31.16 100.5%.10 T 2012-13 REPORT 48 ANNUAL REPOR . (b) Ter ms of r epayment for Unsecur ed Bor rowing : erms repayment Unsecured Borr The loan from related parties was repayable on demand and the interest is paid/ payable at 12% per annum.00 – 222.64 13067.46 11515.00 9973.Mr. 2013 As At March 31. Hari Chand Aggarwal and Mr.72 TOT AL TOTAL 8.04 57.The outstanding loan is repayable in 15 quarterly instalments.88 Lacs during the year (Previous Year .10 11846.12 68. Udhampur Unit (J&K) and residential property in the name of director at Pitampura (Delhi) and negative lien on company's office at Azadpur (Delhi). SHOR T TERM BORROWINGS SHORT PAR TICULARS ARTICULARS Loan Repayable On (a) (b) (c) Demand from Banks (Secured) Cash Credit from Banks (Secured) Buyers Credit Loans (Secured) As At Mar ch 31. TRADE PA YABLES PAY PAR TICULARS ARTICULARS Trade Payables (Including Acceptances) TOT AL TOTAL As At Mar ch 31. these loans have been guaranteed by the personal guarantee of the directors .04 12. 2012 March ( ` in Lacs) (` in Lacs) As At Mar ch 31. Rajesh Aggarwal. 2012 March ( ` in Lacs) 4000. Cash Credit & Buyers Credits) from Banks are secured by first pari passu charge over present and future stock & book debts and moveable fixed assets of the company. 2013 As At March 31. 9.64 (` in Lacs) 11846. Further. the Company has entered into the derivative contract for hedging of interest rate swaps. Further.NIL). These loans are additionally secured by equitable mortgage on pari passu basis over Lands & Buildings situated at Chopanki Unit (Rajasthan). 6.53 (` in Lacs) 182.37 56. The interest is to paid on quarterly basis at Libor plus 3. OTHER LONG TERM LIABILITIES PAR TICULARS ARTICULARS Trade / Security Deposits received from Customers National Research Development Corporation (TDDP) Due To GIDC. 2013 As At March 31. Gujarat TOT AL TOTAL 7.37 483. 2012 March ( ` in Lacs) 224.45 (` in Lacs) 500. the Company has entered into the derivative contract for hedging of buyer's credit amounting to ` 966.05 TOT AL TOTAL Working Capital Loans (Demand Loan. LONG TERM PROVISIONS PAR TICULARS ARTICULARS (a) (b) Provision for Employee Benefits Provision for Gratuity Provision for Foreign Exchange Loss (M to M) – 57.
38 3.74 155.64 1. 2013 As At March 31.54 4918.07 51.44 2646.23 209. OTHER CURRENT LIABILITIES PAR TICULARS ARTICULARS Current Maturities of Long Term Borrowings Unpaid Dividend Other Payables (i) Statutory Remittances (Contributions to PF and ESIC.21 7.95 3398. TDS etc.66 2441. Withholding Taxes.40 317. VAT. Tax.53 45. 2013 As At March 31. 2012 March ( ` in Lacs) (` in Lacs) As At Mar ch 31.75 380.95 1048.13 201.74 398.28 45.03 1810.) (ii) Advances from Customers (iii) Interest Recoverable (Subject to Acceptance of Debit Notes) (iv) Cheques sent for Collection (v) Debtors having Credit Balance (vi) Creditors for Capital Expenditure (vi) Expenses Payable TOT AL TOTAL 11. Prof.32 2201.65 2. Excise Duty.43 319.56 284.78 75.98 (b) Provision .71 ANNUAL REPOR T 2012-13 49 REPORT .Others (i) Provision for Income Tax (ii) Provision for Wealth Tax (iii) Proposed Equity Dividend (iv) Provision for Tax on Proposed Equity Dividend TOT AL TOTAL 1892.03 1.49 64. Service Tax. 2012 March ( ` in Lacs) 1126.77 As At Mar ch 31.04 1429. SHOR T TERM PROVISIONS SHORT PAR TICULARS ARTICULARS (a) Provision for Employee Benefits (i) Provision for Bonus 101.10.61 (` in Lacs) 514.20 715.
38 1266.06 89.78 5125.53 0.04.51 6728.79 246.06 0.57 16.43 9545.19 7.24 256.71 66.74 3141.90 311. FIXED ASSETS ( ` In Lacs) GROSS BLOCK Addition Sale/ Adjustment As At 31.79 23.75 0.62 54.66 9196.08 73.23 0.83 6.80 3190.11 0.12.77 185.03.66 2.2012 DEPRECIA TION DEPRECIATION NET BLOCK DESCRIPTION OF ASESTS As At 01.17 98.03.33 121.94 0.26 26.25 0.53 23.35 0.93 52.41 502.30 132.17 14850.31 17.52 58.03.73 53.57 73.59 22.27 259.87 60.35 699.39 67.79 29.53 14.53 11.61 96.69 507.59 17.97 20.64 2288.28 148.08 1.85 46.24 1462.69 9.59 43.17 226.29 576.07 1770.81 398.69 1679.37 14.10 60.95 27.08 56.46 30.76 272.71 134.99 1618.77 636.98 40.39 0.62 86.21 24.51 163.05 0.47 38.73 0.09 713.59 151.35 19.59 345.22 126.36 8.72 14.70 Freehold Land Leasehold Land Office/Godown Buildings T 2012-13 REPORT 50 ANNUAL REPOR Factory Buildings Plant & Machinery Electrical Installations Factory Equipments Laboratory Equipments Pollution Control Equipments Generator Telephone & Mobiles Furniture & Fixtures Electrical Fittings Office Equipments Computers & Accessories Vehicles Commercial Vehicle SUB TOT AL (A) TOTAL (II) INT ANGIBLE ASSETS INTANGIBLE Software Website Patents.14 5.52 364.2012 (I) TANGIBLE ASSETS OWNED ASSETS 614.21 4.31 0.2013 31.88 84.45 26.60 9683.03 38.81 11.73 37.73 4871.36 713.83 18.92 102.17 1198.76 1.08 15301.01 23.26 2.35 614.17 0.27 1115.98 169.54 167.97 189.07 6.54 1365.86 348.79 9.00 133.58 15.22 1.31 42.77 190.43 7288.05 312.12 52.87 66.34 7.12 5125.61 5.14 5839.63 0.78 20.87 260.68 209.89 0.81 655.81 398.43 3649.39 0.81 138.49 0.88 0.26 0.61 65.53 254.61 522.19 189.09 7.10 0.04.61 1365.08 219.81 1.54 699.2013 As At As At 31.34 0.37 3.43 1215.2012 For the period Written Back Upto 31.2013 As At 01.23 17.32 1.71 16.04 560.15 18.38 17. Trade Marks & Designs SUB TOT AL (B) TOTAL Total (A+B) Pr evious Y ear Figur es Previous Year Figures (III) Capital W ork in Pr ogr ess Work Progr ogress .52 419.45 17.72 313.39 0.21 54.74 4486.02 11.88 222.66 383.70 14034.83 53.05 451.15 0.95 54.03 8.06 11.04 5826.81 107.38 3.63 106.34 26.62 15.17 567.03.27 19.21 5839.87 5.39 9.89 7.01 222.08 1.60 40.35 3449.07 5527.46 235.64 13651.01 74.87 9.87 73.04 54.
00 3092. 2012 March ( ` in Lacs) (` in Lacs) 363.56 22.00 65. Unamortised (Gain)/Loss on Foreign Currency TOT AL TOTAL 15.39 68.95 6050. 2013 As At March 31.64 636. OTHER NON CURRENT ASSETS PAR TICULARS ARTICULARS Unamortised Expenses Share Issue Expenses etc.67 ANNUAL REPOR T 2012-13 51 REPORT .48 2219. etc.91 1363.56 20241.84 730.44 As At Mar ch 31.52 110. MAT Credit Entitlement TOT AL TOTAL 14. 2013 As At March 31. 2013 As At March 31. LONG TERM LOANS & ADV ANCES ADVANCES PAR TICULARS ARTICULARS Capital Advances Secured. 2012 March ( ` in Lacs) (` in Lacs) 68. INVENTORIES PAR TICULARS ARTICULARS (a) Raw Materials At cost or market price.24 491.16 2550. considered good Unsecured.08 473.48 47. Spares Parts & Fuel At Cost (On Weighted Average Basis) Goods-in-Transit TOT AL TOTAL As At Mar ch 31.36 0.54 9789.36 As At Mar ch 31.62 1266.Finished Goods (At Weighted Average Cost) (f) Stores.80 2.08 3160. 2012 March ( ` in Lacs) (` in Lacs) 775.55 283.85 (59.04 36.96 22535. considered good Doubtful Security Deposit Secured.47 47.13.16 2503.39 1870.56 1342. whichever is lower (On Weighted Average Basis) Goods-in-transit (b) Finished Goods (Manufactured) (Cost of Production or Net Realizable Value whichever is lower) (c) Stock-in-Trade (Traded Goods) At Cost (On Weighted Average Basis) (d) Packing Materials At Cost (On Weighted Average Basis) Goods-in-Transit (e) Semi.67 1554. considered good Doubtful Advances Recoverable in Cash or Kind Secured considered good Unsecured considered good Doubtful Other Loans and Advances Advance income-tax Prepaid expenses Loans & Travel Advances to employees Balance with Central Excise.61 2503. VAT Authorities.55 6.49) 305.60 1177. considered good Unsecured.32 10152.60 364.77 1548.
16. TRADE RECEIV ABLES RECEIVABLES PAR TICULARS ARTICULARS Unsecur ed, Consider ed Good unless stated other wise Unsecured, Considered otherwise Trade Receivables outstanding for a period exceeding six months from the date they were due for payment Secured, considered good Unsecured, considered good Doubtful Other Trade Receivables Secured, considered good Unsecured, considered good Doubtful As At Mar ch 31, 2013 As At March 31, 2012 March ( ` in Lacs) (` in Lacs)
741.54 5.66 747.20 10903.39 10903.39
226.26 5.71 231.97 8689.46 8689.46 8921.43
TOT AL TOTAL 17. CASH AND CASH EQUIV ALENTS EQUIVALENTS PAR TICULARS ARTICULARS (a) Cash on Hand (b) Cheques, Drafts on Hand (c) Balances with Banks (i) In Current Accounts (ii) In Earmarked Accounts - Unpaid Dividend Accounts (iii) Fixed Deposits with Bank TOT AL TOTAL 18. LOANS & ADV ANCES (CURRENT) ADVANCES PAR TICULARS ARTICULARS Capital Advances Secured, considered good Unsecured, considered good Doubtful Security Deposit Secured, considered good Unsecured, considered good Doubtful Advances Recoverable in Cash or Kind Secured considered good Unsecured considered good Doubtful Other Loans and Advances Advance Income-Tax Prepaid Expenses Loans & Travel Advances to Employees Balance with Central Excise, VAT Authorities, etc.
As At Mar ch 31, 2013 As At March 31, 2012 March ( ` in Lacs) (` in Lacs) 20.36 27.54 375.78 3.13 69.84 469.11 486.59 2.74 1258.21 1775.08
As At Mar ch 31, 2013 As At March 31, 2012 March ( ` in Lacs) (` in Lacs) 309.47 309.47 2633.20 2633.20 142.60 21.62 1522.48 1686.70
206.76 206.76 572.22 572.22 238.64 19.57 1726.09 1984.30 2763.28
TOT AL TOTAL
T 2012-13 REPORT 52 ANNUAL REPOR
19. OTHER CURRENT ASSETS PAR TICULARS ARTICULARS Excise Duty Involved in Stocks laying with the various Branches Interest Recoverable Coins In Hand Insurance Claim Recoverable Other Recoverable - Sales Tax Department Prelimimary Expenses (Not Written off or Adjusted) TOT AL TOTAL As At Mar ch 31, 2013 As At March 31, 2012 March ( ` in Lacs) (` in Lacs) 1694.25 1099.12 74.90 0.42 0.32 37.75 3.45 10.05 1.33 2.34 1774.25 1149.68
ANNUAL REPOR T 2012-13 53 REPORT
20. REVENUE FROM OPERA TIONS OPERATIONS PAR TICULARS ARTICULARS For the Y ear Ended For the Year Ended Year Mar ch 31, 2013 March March 31, 2012 ( ` in Lacs) Sale of Pr oducts Products Finished Goods Traded Goods Sale of Scrap Revenue from Operations (Gross) Less: Excise Duty TOT AL TOTAL Details of Sold Pr oducts Products PAR TICULARS ARTICULARS For the Y ear Ended For the Year Ended Year Mar ch 31, 2013 March March 31, 2012 ( ` in Lacs) (a) Finished Goods Sold Liquid Powder Granules Technicals Total (a) (b) Traded Goods Sold Liquid Powder Granules Raw Materials & Packing Materials Total (b) Total (a+b) 21. OTHER INCOME PAR TICULARS ARTICULARS For the Y ear Ended For the Year Ended Year Mar ch 31, 2013 March March 31, 2012 ( ` in Lacs) Interest Income on Fixed Deposits with Banks (Tax Detected at Source ` 1.70 Lacs (Previous Year ` 4.03 Lacs) Others TOTAL Other Non-operating Income TOT AL TOTAL 0.62 16.84 3.78 20.62 0.52 8.03 0.48 8.51 16.22 (` in Lacs) 7.51 31649.00 8842.79 11013.71 7162.69 58668.19 4022.31 486.79 999.25 838.47 6346.82 65015.01 (` in Lacs) 27288.08 8120.94 9782.97 5484.86 50676.85 2384.15 544.38 1000.66 802.19 4731.38 55408.23 58668.19 6346.82 2.05 65017.06 3349.13 61667.93 50676.85 4731.38 55408.23 3232.64 52175.59 (` in Lacs)
T 2012-13 REPORT 54 ANNUAL REPOR
2013 March March 31. PURCHASE OF TRADED GOODS PAR TICULARS ARTICULARS For the Y ear Ended For the Year Ended Year Mar ch 31.87 4157.50 37119.03 32921.63 8396.60 1548.46 10152. 2012 ( ` in Lacs) Liquid Powder Granules TOT AL TOTAL 3535.86 41317.38 6086.48) 9789.50 37532.73 1386.55 1177.21 4756. 2012 ( ` in Lacs) Raw Material Inventory at the beginning of the year Add: Purchases Less: Inventory at the end of the year Cost of Raw Material Consumed Packing Material Inventory at the beginning of the year Add: Purchases Less: Inventory at the end of the year Cost of Packing Material Consumed TOT AL TOTAL 23.48 890.53 1269.77 35230.55 1177.75 79. 2012 ( ` in Lacs) Inventories at the end of the year Finished Goods Semi Finished Goods Traded Goods TOT AL (A) TOTAL Inventories at the beginning of the year Finished Goods Semi Finished Goods Traded Goods TOT AL (B) TOTAL (INCREASE)/DECREASE IN STOCK (B-A) 10152.60 3575. 2013 March March 31.91 12686.33 39342. WORK-IN-PROGRESS AND TRADED GOODS PAR TICULARS ARTICULARS For the Y ear Ended For the Year Ended Year Mar ch 31.77 (` in Lacs) 2138.52 8209.77 192.32 2939.42 155.29 (4669.22.57 4314.07 1269.99 1342.77 (` in Lacs) ANNUAL REPOR T 2012-13 55 REPORT .57 4276.23 4197.76 33255.88 (` in Lacs) 24. 2013 March March 31.62 12878.79 645. (INCREASE)/ DECREASE IN INVENTORIES OF FINISHED GOODS.31 6015.10 789.60 1548.31 35767.15 542.62 12878.29 1303. COST OF RA W MA TERIALS AND COMPONENTS CONSUMED RAW MATERIALS PAR TICULARS ARTICULARS For the Y ear Ended For the Year Ended Year Mar ch 31.64 6086.86 5546.16 5583.56 1553.
2012 ( ` in Lacs) Salaries.50 10152.37 303.01 235.17 9.19 T 2012-13 REPORT 56 ANNUAL REPOR .59 1729. FINANCE COSTS PAR TICULARS ARTICULARS For the Y ear Ended For the Year Ended Year Mar ch 31.08 354. 2013 March March 31.13 0.60 (` in Lacs) Depreciation on Tangible Assets Amortization on Intangible Assets TOT AL TOTAL 27.58 9789.66 2444.27 39.72 3. DEPRECIA TION AND AMOR TIZA TION EXPENSE DEPRECIATION AMORTIZA TIZATION PAR TICULARS ARTICULARS For the Y ear Ended For the Year Ended Year Mar ch 31.78 136.46 (` in Lacs) 206.43 2683.68 1235. 2013 March March 31.22 1114. 2012 ( ` in Lacs) Finished Goods Liquid Powder Granules Technicals TOT AL TOTAL Traded Goods Liquid Powder Granules TOT AL TOTAL 25. EMPLOYEES BENEFIT EXPENSE PAR TICULARS ARTICULARS For the Y ear Ended For the Year Ended Year Mar ch 31. 2012 ( ` in Lacs) (` in Lacs) 305.72 90.95 1342.78 106.72 141.22) 59.56 6768.Details of I nventor y Inventor nventory PAR TICULARS ARTICULARS For the Y ear Ended For the Year Ended Year Mar ch 31.91 (1.41 78.30 93.62 6182.92 1667.82 1177.55 28.29 576.03 1615. 2013 March March 31.17 715. Wages and Bonus Contribution to Provident and Other Funds Gratuity Expense Staff Welfare Expenses TOT AL TOTAL 26.65 29.39 411.40 70.15 19.43 Inter est Interest Interest on Cash Credit Limits & Buyers Credit and Demand Loan Interest (Others) Interest on Term Loans Interest on Unsecured Loans Bank Charges Net (Gain) / Loss on Foreign Currency Transactions and Translation (Considered as Finance Costs) TOT AL TOTAL 1145.23 13.78 (` in Lacs) 1600. 2013 March March 31.37 18.19 18.81 1412.91 732.78 1276. 2012 ( ` in Lacs) 567.78 1735.94 635.
14 33.19 134.56 176.23 0.39 2.42 0.73 35.58 30.86 22.80 100.19 90.05 3.66 362.09 16.17 703.99 16.85 0.57 6.81 1188.35 2.65 934.15 36.08 31.19 85.65 37.83 56.69 54.85 0.16 22.88 1057.24 13.97 1.47 4.50 463.49 31.11 115.72 4. 2013 March March 31.77 375.17 26.71 2.75 43.98 81.78 31.98 27.18 8.30 42.61 487.12 37.51 5. OTHER EXPENSES PAR TICULARS ARTICULARS For the Y ear Ended For the Year Ended Year Mar ch 31. 2012 ( ` in Lacs) Manufacturing Expenses Consumption of Stores and Spares Job Work Charges Power and Fuel Expenses Freight Inward Conveyance Expenses Repairs & Maintenance (Machinery) Repairs & Maintenance (Buildings) Repairs & Maintenance (Others) Pollution Control Expenses Entry Tax/Toll Tax Laboratory Expenses 201.46 167.49 7526.59 42.20 35.03 194.60 16.65 56.70 (` in Lacs) ANNUAL REPOR T 2012-13 57 REPORT .05 1218.40 255.30 0.11 1181.06 3.10 2.17 123.92 4317.97 8.17 26.61 77.53 9.52 130.56 3.77 15.84 26.08 0.60 11.02 419.12 31.58 1.29 1.15 2.83 Selling & Distribution Expenses Discounts & Rebates Allowed Freight Outward Business Promotion Expenses Leakage/Demonstration/Testing/Tender Expenses Advertisement & Publicity Expenses Royalty Sales Commission Travelling and Conveyance Administrative & General Expenses Rent (Including Lease Rental) Insurance Telephone Expenses Printing and Stationery Legal and Professional Fees Directors’ Sitting Fees Payment to Auditors Professional Tax Electricity & Water Charges Rates and Taxes Repairs & Maintenance (Others) Conveyance Expenses Postage & Telegram Expenses Filing Fees Licence Fees Office Maintenance Expenses Membership & Subscription Vehicle Running & Maintenance Expenses Security Charges Donation TDS (Interest Paid) Scooter Running & Maintenance Expenses Fine & Penalties 5088.15 8612.66 71.81 20.75 155.45 0.28.33 6.
RETIREMENT BENEFITS : (a) Retirement benefits in the form of Provident Fund / Family Pension Fund.21 117. The same is computed by dividing the net profit attributable to equity shareholders for the year.52 3.98 18.02 776. by the weighted average number of equity shares outstanding during the year.19 16. EARNING PER SHARE (EPS) The Company reports basic & diluted earnings per equity share in accordance with Accounting Standard – 20 issued by The Institute of Chartered Accountants of India.85 ` 10 Previous Year (` in Lacs) 3301.93 TOT AL TOTAL 29.64 (109.28 13.27 148. which are defined contribution plans.79 51.83 3.09 15.21 (` in Lacs) 64.94 2. The following tables summarize the components of net benefit expense recognized in the Statement of Profit & Loss and the funded status and amounts recognized in the Balance Sheet for the Gratuity Plan: 3531.77 12682966 ` 27.49 10583. 2012 ( ` in Lacs) 75. (b) Retirement benefits in the form of Leave Encashment. (c) Retirement benefits in the form of Gratuity. (d) The Actuarial Gains / Losses arising during the year are recognized in the Statement of Profit & Loss of the year.03 ` 10 T 2012-13 REPORT 58 ANNUAL REPOR .93 9007.11 59. 2013 March March 31.44 0.07 1.52 12682966 ` 26. The earning per share is calculated as under: PAR TICULARS ARTICULARS Cur rent Y ear Curr Year ( ` in Lacs) Profit after Taxation Weighted Average Number of Equity Shares Earning Per Share (Basic & Diluted) Face Value Per Share 30.88 0. EMPLOYEE BENEFITS A. is determined and accounted for on the basis an actuarial valuation done by applying the Projected Unit Credit Method.PAR TICULARS ARTICULARS For the Y ear Ended For the Year Ended Year Mar ch 31. which is define benefit plan.34 0.81) 3.60 0.01 13.53 0.13 7. are accounted for on accrual basis and charged to the Statement of Profit & Loss of the year.20 Computer Running & Maintenance Expenses Generator Repair & Maintenance Expenses Books & Periodicals Additional Sales Tax ISO Expenses Research & Development Expenses Preliminary Expenses Written off Petty Balance Written off Loss on Sale of Fixed Assets (Net) Loss due to Fire (Stock) Loss due to Fire (Assets) Miscellaneous Expenses Prior Period Items (Net) 782. is accounted for on cash basis every year and charged to the Statement of Profit & Loss of the year. which is defined benefit plan.86 1.
63 9.27 101.27 11. Categor y of Assets Insurer Managed Funds TOTAL TOT AL ANNUAL REPOR T 2012-13 59 REPORT .00% 2. 2012 (` in Lacs) 8.20) 13.50% 5.69 6.35 47.36 1.69 (12.00% 2.99 133.18 6.58 (13.98 133.30 11. Balance Sheet Reconciliation Opening Net Liability Expense Recognized in the Statement of Profit & Loss Employers Contribution Amount Recognized in Balance Sheet Category VIII.88 170.69) 90.94 211.37) (36.28) 13.33 (10. Amount Recognized in the Balance Sheet Liability at the end of the year Fair Value of Plan Assets at the end of the year Difference Unrecognized Past Service Cost Amount Recognized in the Balance Sheet ofit & Loss Profit VI.63 120.64 211.07) 35. Assumptions Discount Rate Rate of Return on Plan Assets Salary Escalation Attrition Rate II.90 I. 2013 March ( ` in Lacs) 8.37) 120.64 (3.58 For the Year Ended on March 31.00 40.90 (34.00 (10.60 211.90 12.58 211.34) 10.37 – 12.GRA TUITY LIABILITY GRATUITY PAR TICULARS PARTICULARS For the Year Ended on Mar ch 31.25% 8.34 8.58 40.66 (12.66 (22.64) 47.60 10.07) 1.20) 0.90 10.36 12. Change in the Fair V Fair Value of Plan Assets at the beginning of the year Expected Return on Plan Assets Contributions by Employer Benefit Paid Actuarial Gain/(Loss) on Plan Assets Fair Value of Plan Assets at the end of the year IV .00% Age Related 133.49 (8.35) 8. Expenses Recognized in the Statement of Pr Current Service Cost Interest Cost Expected Return on Plan Asset Actuarial (Gain) or Loss Expenses Recognized in the Statement of Profit & Loss VII.34 36.28 90.37 15.94 22.64) (12. Change in the Pr esent V alue of Defined Benefit Obligation Present Value Liability at the beginning of the year Interest Cost Current Service Cost Benefit Paid Actuarial (Gain)/Loss on Obligations Liability at the end of the year alue of Plan Assets Value III.49 15.18 (3.00% Age Related 78. IV.50% 8.28 0.36) 34.70% 5.94 – 40.64 120.30 (10. Total Actuarial Gain/(Loss) To be Recognized n on Plan Assets Return Actual Retur Expected Return on Plan Assets Actuarial Gain/(Loss) on Plan Assets Actual Return on Plan Assets V.32 22.90 120.94 170.27 120.20) 10.
16 – – 16.94 3531.76 38.26 – – – – 5810.25 (37. The related risks and returns. which relates to the enterprise as a whole and are not allocable to the segments on a reasonable basis. A.80 1187.66 27.allocated 2012–13 2011–12 Eliminations 2012–13 2011–12 Total 2012–13 2011–12 54512.82 196.00 728.00 10383.00 1.54 – – – – – – – – – – – – 63207. the Company’s primary segments are For Formulated consisting of Pesticides.18 – – 2271.05 – – 61668.05 9922.00 5446.58 37394.00 2.97) 3301.02 4623.84 4974.43 37394.94 3531. Segment Expenses.68 200.76 – – 8.30 1. Revenue and Expenses have been accounted for based on the basis of their relationship to the operating activities of the segments. have been included under “Unallocated Revenue.Investment Details of Plan Assets: 100% with Life Insurance Corporation of India B. 31.43 52029.83 8.02 4623.75 179.63 52029.92 337. iii) The internal financial reporting system.97) 3301. Assets and Liabilities. Segment Revenue.83 19.52 576. PRIMAR Y SEGMENT PRIMARY Based on the following guiding principles given in the Accounting Standard–17 “Segment Reporting’’ issued mulated Pesticides by The Institute of Chartered Accountants of India. Assets & Liabilities which are not allocable to segments.48 – 63207. The Revenue.76 – – 8.59 For mulations Formulations 2012–13 2011–12 Technical’ s echnical’s 2012–13 2011–12 Un .58 29406.69 945.52 – – – – – – – – – – – – – – – – – – – – 16.73 T 2012-13 REPORT 60 ANNUAL REPOR . have been included in under “Un–allocable Expenses & Revenue’’.90 4973.69 945.68 200.66 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 16.03 4294. Herbicides.00 46764. which relates to the enterprise as a whole and are not allocable to the segments on a reasonable basis.00 9922.22 4636.80 1187. have been included in under “Un–allocable Assets / Liabilities’’.00 84.22 4636. SEGMENT REPOR TING REPORTING The Company is engaged in the business of Formulation & Manufacture of Pesticides.03 4294. Expenses.30 1.00 55408.23 9922.00 52175.52 – – – – – – – – 5810. Assets & Liabilities.34 5564.72 273.89 1.72 29406.00 4973.26 54512.00 1.91 – – 7156. Fungicides & Plant Growth Regulators and Technical Pesticides Pesticides.89 1.00 46764. Short Term Employees Benefits are recognized as an expense in the Statement Profit & Loss of year in which the related service is rendered.05 – – – – – – – 61668. Revenue and Expenses. which are the basic active ingredients used for making formulations so that they can be used directly by the Farmers and/or Consumers: i) ii) The nature of the products.18 – – 1003.12 235. Expenses.91 17078.84 3275.92 337.54 230. Primar y Segment Infor mation ( `In Lacs) Primary Information Description Segment Revenue (Sales/Income) a) External Sales b) Inter Segmental Sales Sales Segment Result Operating Profit before Interest and Taxes Less : Interest Expenses Add : Profit on Sale of Investment Add : Dividend Income Add : Interest Income Profit Before Tax Current Tax (Net of MAT Credit) Deferred Tax Wealth Tax Provision for Taxes of Earlier year Pr ofit After T ax Profit Tax Other Infor mation Information Segment Assets Segment Liabilities Capital Expenditure Depreciation Non–Cash Expenditure – – 3697.25 (37.00 728.75 179.00 4973.00 84.35 346. Segment Assets & Segment Liabilities have been identified to the segments on the basis of their relationship to the operating activities of the segment.
Mr.05 26. Vrijesh Kumar Gupta (from Sep. TY DISCLOSURES RELA TED P AR RELATED PAR ARTY In compliance to AS 18 issued by The Institute of Chartered Accountants of India. 5. Sr. Mr.75 0.00 55. as such there is no reportable Geographical Segment. Gopal Chandra Agarwal Mr.20 10. Navneet Goel Mr. Name of Related ties Parties Par Mr.65 37. The Export Turnover during the year is less than 10 % of the Total Turnover. Paras Agro Industries ISEC Organics Limited Evergreen Mineral Industries Associate Firm Associate Company Associate Firm (Except above. Anil Kumar Singh ol exists and with whom the company had transactions Other r elated par where control related parties ties wher e common contr during the year: 1. 10. 12. Vrijesh Kumar Gupta Mr.30 NIL 0. Nikunj Aggarwal (from May 2. Mr.75 0.45 210. 6. 2013) Mr. Rajesh Aggarwal Managing Director ANNUAL REPOR T 2012-13 61 REPORT . 7.52 46.60 0.00 115. Hari Chand Aggarwal Mr. 2.78 120.20 1. 25. Anil Kumar Singh Mr. Key Management Personnel & Dir ectors : Directors 1. Gopal Chandra Agarwal 10.32 55.00 47.80 10. Sanjeev Bansal Mr.47 71.75 26. 2012) Mr.00 6. 25. there is no other related persons / parties with whom transaction took place during the year as confirmed and certified by the Management of the Company) (II) Transactions during the year with r elated par ties: related parties: Sr .45 1.75 0. 32. 3.20 1. Rajender Pershad Gupta (till Sep.00 3. Navin Shah ISEC Organics Limited Whole Time Director Directors Remuneration Director Director Director Director Director Director Associate Company Sitting Fee Sitting Fee Sitting Fee Sitting Fee Sitting Fee Sitting Fee Rent Loan Taken Interest Paid Loan Repaid 11.30 0. Mr.70 63.81 2. 2013) Mrs.45 0. 2.20 1.00 6. 2012) Mr. 8. Mr. Rajesh Aggarwal Mr. Sanjeev Bansal (till April 30. Hari Chand Aggarwal Relationship Chairman Natur e of T ransaction n Nature Transaction ransactionn Directors Remuneration Loan Taken Interest Paid Loan Repaid Directors Remuneration Loan Taken Loan Repaid 3. the disclosure of transactions with Related Parties as defined in Accounting Standard (Excluding Reimbursements) are given herein below: (I) RELA TED P AR TIES RELATED PAR ARTIES A.00 0. 8. 3. 1. Paras Agro Industries Associate Firm Purchases Purchases Evergreen Mineral Industries Associate Firm 2012-13 2011-12 ( ` in Lacs) (` in Lacs) 56.00 0. 4.97 95. No. SECONDAR Y SEGMENT SECONDARY The Company caters mainly to the need of the Indian Market.86 193. B. Navin Shah 5. 9. 6. Rajender Pershad Gupta Mr.00 126. 7.B. Navneet Goel Mr. 4. 9.
36.60 32.89 Cur rent Y ear Curr Year ( ` In Lacs) NIL 1018.09 NIL Chairman Managing Director Associate Company Associate Firm Associate Firm Associate Company Remuneration Payable Remuneration Payable Long Term Loan Payable Trade Payable Trade Payable Rent Payable Whole Time Director Remuneration Payable DEFERRED T AX LIABILITIES TAX The detail of deferred tax liabilities for the year is given as under : PAR TICULARS ARTICULARS Defer red T ax Assets Deferr Tax Deferred Tax Liabilities (Related to Depreciation) Defer red T ax Liabilities Deferr Tax At The End of The Year For The Year 1018. rency on account of Dividend : NIL Remittance in For Foreign Curr eign Cur COST OF IMPOR TED MA TERIALS CONSUMED IMPORTED MATERIALS A.75 2.00 Imported Indigenous TOT AL TOTAL B.33 3.74 5.00 100.74 25.47 100.00 11.11 Previous Year (` In Lacs) NIL 289.00 15. PACKING MA TERIALS & COSUMABLE STORES CONSUMED MATERIALS PAR TICULARS ARTICULARS Cur rent Y ear Curr Year Percentage Amount Per centage ( ` in Lacs) 4399. 3.65 67.48 100. 2.63 0.06 72. No.93 22173.81 34.00 100. 7.47 4399.00 32.67 32921.00 11.81 84. 4.00 2.30 NIL 17.00 2.00 2.45 36. Sr.30 289.88 27. 5.00 Cur rent Y ear Curr Year ( ` In Lacs) Previous Year (` In Lacs) 35. Name of Related ties Parties Par Mr.48 4444. Rajesh Aggarwal Mr.00 15.94 100.00 Previous Year Percentage Amount Per centage ( ` in Lacs) 4444. 1.00 Imported Indigenous TOT AL TOTAL T 2012-13 REPORT 62 ANNUAL REPOR . RA W MA TERIAL CONSUMED RAW MATERIAL PAR TICULARS ARTICULARS Cur rent Y ear Curr Year Per centage Percentage Amount ( ` in Lacs) 10747.09 0. 6.94 5.00 33255. Sanjeev Bansal ISEC Organics Limited Paras Agro Industries Evergreen Mineral Industries ISEC Organics Limited Relationship Natur e of Outstanding n Nature Outstandingn ( ` in Lacs) 2012-13 2011-12 (` in Lacs) (` in Lacs) 3. Hari Chand Aggarwal Mr.03 9. PAYMENT TO AUDITORS : (Net of Ser vice T ax) Service Tax) PAR TICULARS ARTICULARS As Auditors Audit Fees Tax Audit Fees In Other Capacity Taxation & Other Matters TOT AL TOTAL 2.(III) Balance outstanding with r elated par ties:related parties:Sr .11 728.35 100. 33.00 Previous Year centage Percentage Amount Per ( ` in Lacs) 8998.88 24257.
87 3.07 28.64 Nil Nil (Except above no other Contingent Liabilities are outstanding as explained and Certified by the Management of the Company) ANNUAL REPOR T 2012-13 63 REPORT .49 40.Y 2010-11 Cur rent Y ear Curr Year ( ` In Lacs) 5185. PACKING MATERIALS PAR TICULARS ARTICULARS Cur rent Y ear Curr Year Per centage Percentage Amount ( ` in Lacs) 10747. 2004 to August.72 5.March.67 161.14 37321.70 NIL 14.84 EXPENDITURE IN FOREIGN CURRENCY (ON ACCRUAL BASIS) PAR TICULARS ARTICULARS Tour & Travelling Expenses Royalty Sales Promotion Professional Charges Interest Cur rent Y ear Curr Year ( ` In Lacs) 3.55 423.99 Previous Year (` In Lacs) 4681. CONTINGENT LIABILITIES S.00 Previous Year centage Percentage Amount Per ( ` in Lacs) 8998.42 2.47 Previous Year (` In Lacs) 55. VALUE OF IMPOR IMPORTS TS (ON CIF BASIS) PAR TICULARS ARTICULARS Raw Materials Machinery 38.47 209.42 90. (a) (b) (c) (d) (e) (f) (g) (h) (i) PAR TICULARS ARTICULARS Letter of Credits (FLC & ILC) Bank Guarantee Import Bills accepted with Banks Excise Matter with Appellate Authority. New Delhi (Period Covered .60 132.18 77. New Delhi (Period Covered .87 76. No.13 100.02 1.12 Previous Year (` In Lacs) 8550.04 39. 2007) Sales Tax Matter with Appellate Authorities at Asansol (West Bengal) Sales Tax Matter with Appellate Authorities at Ghaziabad (Uttar Pradesh) Sales Tax Matter with Appellate Authorities at Samba (J & K) Income Tax matter with CIT (A).00 Imported Indigenous TOT AL TOTAL 37.77 26. RA W MA TERIAL. New Delhi for A.48 37700.36 23.25 75.80 71. 2002 to October.20 Previous Year (` In Lacs) 2. Cur rent Y ear Curr Year ( ` In Lacs) 12379.53 8.72 5. 2002) Excise Matter with Appellate Authority.35 393.70 9. INCOME IN FOREIGN CURRENCY (FOB) PAR TICULARS ARTICULARS Export Sales Cur rent Y ear Curr Year ( ` In Lacs) 18.73 194.88 28701.September.C.43 75.21 24. P ACKING MA TERIALS & COSUMABLE STORES CONSUMED RAW MATERIAL.20 100.67 161.93 26573.03 197.75 294.
98 Lacs). .10 (b) Foreign currency exposure that are not hedged by derivatives instruments as on March 31. The Company has not received any confirmation from suppliers regarding their status of registration under the Micro. 41. reclassified and / or re-casted wherever deemed necessary to make them comparable with those of the current year's figures.54 Lacs (Previous Year `10779. All the common expenses incurred during the year in respect of Formulation (Products) units at Chopanki. The Technical (Products) Units at Chopanki & Dahej are separate as well as independent units having no common activities if compared with above mentioned Formulation Units and as such. 2013 amount to `1431. No. As per our separate report of even date annexed herewith FOR AND ON BEHALF OF THE BOARD HARI CHAND AGGAR WAL AGGARW CHAIRMAN RAJESH AGGAR WAL AGGARW MANAGING DIRECTOR NIKUNJ AGGAR AGGARW WAL WHOLE TIME DIRECTOR SANDEEP AGGAR AGGARW WAL CHIEF FINANCIAL OFFICER PANKAJ GUPT GUPTA A COMPANY SECRETARY For MOHIT P AREKH & CO. The Company has valued inventories as required under AS-2 issued by The Institute of Chartered Accountants of India except the taxes / duties recoverable has been included in the valuation of stocks as per the past practice.85 1526. The total amount payable to Small Scale Industries (SSI) outstanding for more than 30 days as at March 31. The Balances shown under the head Sundry Debtors and Sundry Creditors are subject to confirmation and reconciliations. Estimated amount of Contract remaining to be executed on Capital Accounts (Net of Advances) & not provided for ` Nil (Previous Year ` 964 Lacs). 2006 and hence disclosure required under the said act have not been given. The Previous Year Figures have been reworked .002067N Firm Place : Delhi Date : May 25.11 Previous Year (` In Lacs) 33. 45. 2013 is ` 856.With respect to Contingent Liabilities reported at (d) to (i) above. regrouped . However. 2013 T 2012-13 REPORT 64 ANNUAL REPOR . 1. DERIV ATIVES INSTRUMENTS & UNHEDGED FOREIGN CURRENCY EXPOSURE (a) The nominal amount of derivative contracts entered into by the company and outstanding as on March 31. 42.12 Lacs). PAR TICULARS ARTICULARS Cur rent Y ear Curr Year ( ` In Lacs) Interest Rate Swaps Currency Swaps 6.70 Lacs (Previous Year. In the opinion of the Board of Directors of the Company. the expenses incurred by branches/ other units have not been allocated to the Technical Unit except common expenses incurred by the Head Office which are allocated in proportion to Sales (Net) effected by all the Units. 43.No. rearranged. . no provision thereof has been made.69 1425. 47. The Category wise break-up is given below:S. Udhampur and Dahej have been allocated at the year end in the proportion to Sales (Net) effected during the year.95 Lacs). (c) Mark to Market Losses provided for by the company during the year amount to ` 0. Samba. the management has taken an opinion from the legal advisors / professionals engaged by them and is very much hopeful that the appeals will be decided in the favour of the company and as such.081069 Fir m Regn. DERIVA 49. the Company has initiated the process of obtaining confirmations from Sundry Debtors & Creditors. 2013 amount to ` 9474. the Current Assets. Small & Medium Enterprises Development Act. 46.` 1276. 44.48 Lacs). Loans and Advances have the value at least equal to the figures stated in the Balance Sheet on realization in the ordinary course of business and provision for all determinable/known liabilities have been made in the accounts when reliable estimates can be made of the amount of obligation.80 Lacs (Previous Year ` 1559. No. 48. 2. 2006 which came into effect from October 2. PAREKH Chartered Accountants (MOHIT A P AREKH) PAREKH) Proprietor M.92 Lacs (Previous Year ` 56.
This action might not be possible to undo. Are you sure you want to continue?
We've moved you to where you read on your other device.
Get the full title to continue listening from where you left off, or restart the preview.