CHOTILA SILICA PRIVATE LIMITED

REGD.OFFICE - 305 , ORION ARCADE , ZADESHWAR ROAD , BHARUCH
BALANCE SHEET AS AT 31ST MARCH 2007
PARTICULARS
Sch
AS AT
AS AT
31-03-2007
31-03-2006
SOURCES OF FUNDS :
SHARE HOLDER'S FUNDS :
Share Capital
"A"
100200.00
100200.00
Reserves & Surplus
"B"
16520275.02
13839993.86
TOTAL
16620475.02
13940193.86
APPLICATION OF FUNDS :
Fixed Assets
Gross Block
Less : Depreciation
Net Block

"M"
6069815.12
805116.00
5264699.12

3715866.00
439846.00
3276020.00

10143842.42

3700000.00

547955.00
5532006.22
545024.80
3939762.00
10564748.02
3907199.16

Investments

"C"

Current Assets, Loans & Advances
Inventories
Sundry Debtors
Cash & Bank Balances
Loans & Advances

"D"

Less : Current Liabilities & Provisions

"E"

437927.00
1954441.41
640804.51
3967287.91
7000460.83
6062760.35

-

937700.48

6657548.86

-

269667.00
4566.00
274233.00

300247.00
6378.00
306625.00

16620475.02

13940193.86

Net Current Assets
Miscellaneous Expenditure
( to the extent not written off or adjusted)
Deferred Revenue Expenditure
Preliminary Expenses

TOTAL
NOTES ON ACCOUNTS

"L"

As per our attached report of even date
For S.B. LUHARUKA & CO.
CHARTERED ACCOUNTANTS.

For and on behalf of the board

S.B.LUHARUKA
PROPRIETOR

SANTOSH L. TIBDEWAL
Executive Director

Place : Bharuch
Date : 01-09-07

SHAILESH SHETH
Director

CHOTILA SILICA PRIVATE LIMITED
REGD.OFFICE - 305 , ORION ARCADE , ZADESHWAR ROAD , BHARUCH
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH, 2007
PARTICULARS
Sch
YEAR ENDED
YEAR ENDED
31-03-2007

31-03-2006

Rs.

Rs.

-

30549680.54
30549680.54

20428373.13
20428373.13

"F"

22060584.80
713835.00
752042.00
2452934.78
1954.00
21013.40
30580.00
1812.00
26034755.98

14824870.56
989731.00
642439.00
1815075.00
11439.78
17062.77
30580.00
1812.00
18333010.11

340990.60

172711.05

4855915.16

2268074.07

805116.00

439846.00

6 PROFIT AFTER DEP. BUT BEFORE TAXATION

4050799.16

1828228.07

7 PROVISION FOR TAXATION
-Provision for current year's tax
-Deferred Tax
-Fringe Benefit Tax
-Short provision for tax [ Earlier Year/s]

1357262.00
(2773.00)
15257.00
772.00

611071.00
(5126.00)
22163.00
25542.00

8 PROFIT AFTER TAXATION

2680281.16

1174578.07

10239993.86
0.00

9065415.79
0.00

10 BALANCE AVAILABLE FOR APPROPRIATIONS

12920275.02

10239993.86

11 APPROPRIATIONS
Transfer to General Reserve
Balance Carried to Balance Sheet

0.00
12920275.02

0.00
10239993.86

1 INCOME
Sales
TOTAL
2 EXPENDITURE :
Cost of goods sold
Royalty
Salaries,Wages,Allowances and Other Benefits
Administrative Expenses
Selling,Mktg. & Sales Promotion Expenses
Financial Charges
Deferred revenue expenditure written off
Preliminary Expenses Written off

"G"
"H"
"I"
"J "

3 OTHER INCOME

"K "

4 PROFIT BEFORE DEPRECIATION [1-2+3]
5 DEPRECIATION

"M "

9 BALANCE BROUGHT FORWARD FROM LAST YEAR
Transfer To / From Deferred Tax Liab.

As per our attached report of even date
For S.B. LUHARUKA & CO.
CHARTERED ACCOUNTANTS.

For and on behalf of the board

S.B.LUHARUKA
PROPRIETOR

SANTOSH L. TIBDEWAL
Executive Director

Place : Bharuch
Date : 01-09-07

SHAILESH SHETH
Director

CHOTILA SILICA PRIVATE LIMITED
SCHEDULES ANNEXED TO & FORMING PART OF BALANCE SHEET
AS AT
AS AT
31-03-2007
31-03-2006
SCHEDULE "A"
Share Capital
Authorised
20000 Equity Shares of Rs. 10/- each
5000 11% non-cumulative redeemable
pref.shares of Rs 10/- each.

200000.00
50000.00
250000.00

200000.00
50000.00
250000.00

Issued,Subscribed & Paid Up.
10020 equity shares of Rs 10/- each
fully paid up
TOTAL

100200.00
100200.00

100200.00
100200.00

3600000.00
12920275.02
16520275.02

3600000.00
10239993.86
13839993.86

-Borosil Glass Works Limited
(55168 equity shares)

6443842.42

0.00

-Gujarat Fusion Glass Ltd.
(3,70,000 10% NCRP of Rs 10/each fully paid up )

3700000.00

3700000.00

10143842.42

3700000.00

224730.00
213197.00
437927.00

227040.00
320915.00
547955.00

64458.00
1889983.41
1954441.41

29733.00
5502273.22
5532006.22

SCHEDULE "B"
Reserves & Surplus
General Reserve
Profit & Loss Account
TOTAL
SCHEDULE "C"
Investments

a

b

SCHEDULE "D"
Current Assets,Loans & Advances :
Inventories :
(As taken, Valued & Certified by the management)
Raw Material
Finished Goods
Sub Total (a)
SUNDRY DEBTORS:
Unsecured & Considered Good
More than 6 months
Others
Sub Total (b)

c

d

Cash & Bank Balances
Cash on hand,Bharuch
R.B.Gupta Imprest , Chotila
Bank of Baroda, Bharuch
HDFC Bank Ltd, Bharuch
HDFC Bank Ltd, Rajkot
State Bank of Saurastra,Bharuch
Bank of Baroda, Kolkatta
Oriental Bank of Commerce, Bharuch
Sub Total (c)

14290.46
12405.28
0.00
276381.09
5865.05
8945.00
0.00
322917.63
640804.51

80.46
4524.28
6915.47
424969.29
2958.30
95746.00
9831.00
0.00
545024.80

Loans & Advances :
(Unsecured & Considered Good)
Loans to Employees
Deposits
Pre-Asst. Taxes paid
Income Tax refund [A.Y.2006-07]
Gujarat Fusion Glass Limited, Mumbai
Kheruka & Co Loan a/c
Advances recoverable in cash or kind
Prepaid Expenses
Borosil Holdings Ltd deposit a/c
Purchase tax (for setoff against VAT)
Sub Total (d)
TOTAL (a+b+c+d)

4500.00
218361.20
1050901.71
297884.00
0.00
2036753.00
25354.00
14317.00
313961.00
5256.00
3967287.91
7000460.83

0.00
211565.00
929275.00
0.00
551502.00
1917760.00
8803.00
18243.00
302614.00
0.00
3939762.00
10564748.02

4069465.35
182396.00
152336.00
4404197.35

2718702.00
157395.16
109051.00
2985148.16

286044.00
15257.00
1357262.00
1658563.00
6062760.35

288817.00
22163.00
611071.00
922051.00
3907199.16

SCHEDULE "E"
Current Liabilities & Provisions :
Current Liabilities :
Sundry Creditors
Statutory Liabilities
Outstanding expenses
(a)
Deferred Tax Liability
Fringe Benefits Provision
Current Tax Provision
(b)
TOTAL (a + b )

SCHEDULE "F"
COST OF GOODS PRODUCED
[ CHOTILA MINES ]
Opening Stock
Add : Direct expenses
-Mining labour charges
-Transportation charges
-Crushing job work expenses
-Labour charges at site
-Consumable & Stores
-Electricity Charges
-Repairs & Maintenance
-General site expenses
-Site utility vehicle expenses
-D.G. set Fuel & Maint.
Less : Closing Stock
TOTAL
COST OF GOODS SOLD [ CHOTILA MINES]
Opening Stock
Add : Purchased during the year
Add : Produced during the year
Less : Closing Stock
sub-tot(1)
COST OF GOODS PRODUCED [MADHAVPURA ]
Opening Stock
Add : Direct expenses
-Sieving Jobwork charges
Less : Closing Stock
TOTAL
COST OF GOODS SOLD [ MADHAVPURA ]
Opening Stock
Add : Purchased during the year
Add : Process cost
Less : Closing Stock
sub-tot(2)

227040.00

189221.00

524496.00
575450.00
173435.00
28384.00
698761.44
466643.00
221967.77
0.00
40464.70
337351.50
3293993.41
224730.00
3069263.41

1000533.00
753635.00
909364.00
8693.00
910368.00
752927.00
312624.00
6700.00
0.00
7046.00
4851111.00
227040.00
4624071.00

320915.00
369720.00
3069263.41
3759898.41
213197.00
3546701.41

544084.00
0.00
4624071.00
5168155.00
320915.00
4847240.00

0.00

0.00

2776824.00
2776824.00
0.00
2776824.00

1699380.00
1699380.00
0.00
1699380.00

0.00
6477308.94
2776824.00
9254132.94
0.00
9254132.94

0.00
4004809.49
1699380.00
5704189.49
0.00
5704189.49

COST OF GOODS PRODUCED [CHENPURA MINES]
Opening Stock
0.00
Add : Direct expenses
-Local Carting Charges
76900.00
-Mining labour charges
877626.60
954526.60
Less : Closing Stock
0.00
TOTAL
954526.60
COST OF GOODS SOLD [ CHENPURA MINES]
Opening Stock
Add : Purchased during the year
Add : Produced during the year
Less : Closing Stock
sub-tot(3)

0.00
128660.00
812075.00
940735.00
0.00
940735.00

0.00
2683240.80
954526.60
3637767.40
0.00
3637767.40

0.00
2636024.07
940735.00
3576759.07
0.00
3576759.07

5601913.05
20070.00
0.00
5621983.05
22060584.80

668831.00
1262.00
26589.00
696682.00
14824870.56

668676.00
18580.00
17442.00
47344.00
752042.00

569439.00
19200.00
13000.00
40800.00
642439.00

15528.00
5618.00
2107.00
1247.00
25793.00

15552.00
5612.00
1173.00
3061.00
30047.00

OTHER DIRECT EXPENSES / PURCHASES
Silica Sand purchase
Frieght Inward
Research & Development
sub-tot(4)
TOTAL [ Sub-total 1 to 4 ]
SCHEDULE "G"
Salaries,Wages,Allowances, Other Benefits
Salaries , Wages & Bonus
Conveyance & Transp. Allow.
Staff Welfare expenses
Staff housing allowances etc
TOTAL
SCHEDULE "H"
Administrative expenses
Audit fees
Management services
Membership & Subscription
Misc.expenses
Motor cycle fuel

Postage & Angadia
Telephone expenses
Printing & Stationery
Professional & Legal charges
Professional Tax
ROC expenses
Surface rent
Taxation fees
Travelling & conveyance
Travelling & conveyance [ Directors ]
Tree plantation
State pollution control board fees
Insurance premium
Charity & Donation
Director Remuneration
Office Expenses
Repairs & maintenance
Advertisement Expenses
Electricity Office
Bolero Jeep [Fuel & Repairs]
Gifts & Compliments
Gram Panchayat Tax
Pooja expenses
Shares Invest. Relatd expenses
STT paid on shares investments
Input credit [not availed]
Penalty
TOTAL

SCHEDULE "I"
Selling, Marketing & Sales Promotion Expenses
Entertainment expenses
Purchase Tax
Sales tax paid upon assessment
TOTAL

SCHEDULE "J"
Financial Charges
Bank Charges
Int. on late payment of sales tax
Int. on late payment of TDS
Int.on late payment Prof.Tax
Bank Guarantee charges
TOTAL

6711.00
73093.70
22344.00
20224.00
500.00
800.00
0.00
16854.00
67699.00
49821.00
1250.00
20000.00
42929.00
2100.00
1951012.00
8824.00
725.00
0.00
9686.37
42723.95
11998.00
0.00
0.00
21100.00
7467.00
22529.76
2250.00
2452934.78

6998.00
77154.00
17551.00
5620.00
1000.00
200.00
1500.00
16836.00
31754.00
74358.00
1375.00
15000.00
36886.00
5000.00
1383132.00
4329.00
5975.00
1828.00
6859.00
58977.00
0.00
750.00
6548.00
0.00
0.00
0.00
0.00
1815075.00

1497.00
457.00
0.00
1954.00

10720.00
120.78
599.00
11439.78

12266.31
244.00
315.00
0.00
8188.09
21013.40

6791.77
0.00
41.00
80.00
10150.00
17062.77

SCHEDULE "K"
Other Income
Interest on loans
Interest on I.T.Refunds
Interest from NSCs
Round off
Interest on FDRs
Sundry account w/off
Insurance claim received
Share dividend
Trial balance difference
TOTAL

195355.00
0.00
4092.00
65.95
6709.91
1571.74
22598.00
110336.00
262.00
340990.60

144938.00
23066.00
3683.00
6.65
926.00
91.40
0.00
0.00
0.00
172711.05

Signature to Schedule "A" to "M"
As per our attached report of even date
For and on behalf of the board
For S.B. LUHARUKA & CO.
CHARTERED ACCOUNTANTS.

S.B.LUHARUKA
PROPRIETOR

Place : Bharuch
Date : 01-09-07

SANTOSH L. TIBDEWAL
Executive Director

SHAILESH SHETH
Director

CHOTILA SILICA PRIVATE LIMITED
GROUPINGS ANNEXED TO AND FORMING PART OF THE BALANCE
SHEET AND PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED ON
31ST MARCH 2007
SR. PARTICULARS
NO.

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44

SUNDRY CREDITORS
Ashiyana Glass Trader
Atulbhai S.Shah
Garib Nawaj Minerals
Govindbhai Bhagabhai
Gujarat Transport Corporation
Kirit C Prajapati
Ranjeet Road Carriers
Saraogi & Co. - Ahmedabad
Shraddha Enterprice
Ukkadbhai Raghubhai
Universal Carting
Amit S Luharuka
Jain & Kachhwaha - Jodhpur
Pravinbhai R Mehta - Bharuch
Sabir Husain Salary A/c
S.B.Luharuka & Co. - Bharuch
S.K.Tibdewal [Salary a/c ]
Technomine Consulatants-Jodhpur
A.A.Ajmera
Accurate Wire Products-Mumbai
Airgrow (India)
All India Minerals
Arman Minerals- Bangore
Babubhai Pate ,Chotila
Balaji Printers
Bhagawti Tractors Parts
BRK Fabrication Works
Babubhai-Chotila
Chamunda Enterprice
Devansh Industries (06-07) -Rajpardi
Dharmesh Trading Co -Rajkot
Mahaveer Enterprice
Media Infocom
Noble Electric Co Pvt Ltd
Pala & Co-Chotila
Premier Phasetrack Pvt Ltd
Shree Chamunda Electric Stores
Sreya Bearing & Tools
Shri Ram Electricals
Vajramani Engineering
Vajramani Welding Works
Vijay Machinery Corporation
Vrushabh Transcon Engineers
Western Mining Company

AMOUNT
[ RUPEES]

178443.00
75081.00
97016.00
33865.00
48814.00
110044.00
100184.00
138412.00
156931.00
14960.00
79129.00
8000.00
3000.00
9800.00
2800.00
34124.00
177771.00
36075.00
23384.00
79984.00
4789.00
339517.63
487160.40
66400.00
2565.00
8105.00
6215.00
5800.00
9346.00
1644366.32
3134.00
6824.00
1850.00
2409.00
9103.00
5102.00
14981.00
14335.00
1535.00
8320.00
11960.00
480.00
2000.00
5351.00
4069465.35

1
2
3
4
5
6
7
8
9

STATUTORY LIABILITIES
Central sales tax (CE) 4%
Central sales tax (CKD) 4%
Royalty Payable - Chenpura
VAT payable
Prof.Tax payable [Employees]
TDS Payable-Salary/Commission
TDS on contract payable
TDS on Prof.tax payable
TCS payable

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23

SUNDRY DEBTORS
Ambuja Cements
Guj.Ambuja cements
Bell Ceramic Limited
Gujarat Ambuja Cements Ltd
Gujarat Borosil Limited ( Govali )
Swill Limited
Atul Precicast
Best Silicate
Ganesh Chemicals Works
G.K Enterprice
Grow More Enterprice
Hindustan Marketing
Lonic Casting Pvt Ltd
Pavit Ceramic Pvt Ltd-Jolwa
Pramukh Industries
Rushi Steel Cast
Servese Ref Pvt Ltd
Shafali Rolls Limited
Shafali Steel Limited
SPL Limited
Tamco Potteries
Uma Metals
Graphite India Limited

720.00
8416.00
12335.00
90881.00
1290.00
30000.00
36428.00
1938.00
388.00
182396.00

2196.00
520.00
24411.00
1023.00
1705242.63
4659.00
22880.00
14382.00
19670.00
4222.00
20290.00
5391.00
4290.00
2062.00
3804.00
2347.00
1821.00
26297.78
2159.00
5947.00
33200.00
2805.00
44822.00
1954441.41

Sales
1
2
3
4
5
6
7
8

( net of sales tax,returns,freight, quality rejections
loading charges etc.)
Glass grade , Chotila mines
Stone waste sales, Chotila Mines
Silica Sand - Oversize , Chotila mines
Silica Sand - Fines , Chotila mines
Glass grade, Madhavpura
Glass grade, Amod mines
Glass grade,Bhimpora
Lime Stone D Grade, Chenpura mines

1
2
3

Less :
Freight Outward charges
At Madhavpura
At Amod
At Bhimpura
Less:
Quality rejections , Material shortage etc.

1
2
3
4
5
6

OUTSTANDING EXPENSES
Salaries,Wages & Allowances
R.B.Gupta electricity re-imbursement
Surface rent
Telephone charges
Electricity charges
Crushing labour charges

3469475.21
563081.10
673714.67
305325.75
17353716.08
823513.60
6777066.16
4560081.47
34525974.04

2517897.00
159539.00
1296991.50
30551546.54
1866.00
30549680.54

45778.00
0.00
0.00
0.00
83258.00
23300.00
152336.00

PRE-ASSESSMENT TAXES PAID [A.Y.2007-2008]
1
2
3
4
5

Advance Income Tax
TDS on interest income
Advance Fringe Benefit Tax
TCS on Royalty,Chenpura mines
TCS on Royalty,Chotila mines

1
2
3
4
5
6
7
8

DEPOSITS
National Savings Certificates
Guj.Electricity Board deposit
Lease deed deposit
Accrued Int.on NSC
Telephone Deposits
Mining Lease [Jamvadi]
Fixed Deposit [HDFC Bank Ltd]
Accrued Int. on HDFC FDR

950000.00
45343.71
20080.00
4489.00
30989.00
1050901.71

22000.00
57250.00
10000.00
18981.00
3000.00
1000.00
100000.00
6130.20
218361.20

1
2
3

REMUNERATION TO DIRECTORS
Commission on sales
Salary
Transportation allowance

1891012.00
50400.00
9600.00
1951012.00

ROYALTY
1
2

Chotila mines
Chenpura mines

1

PREPAID EXPENSES
Insurance

532278.00
181557.00
713835.00

14317.00
14317.00

CHOTILA SILICA PRIVATE LIMITED.
REGD.OFFICE : 305 , ORION ARCADE , ZADESHWAR ROAD , BHARUCH
FINANCIAL YEAR ENDED 31/03/2007
BALANCE SHEET ABSTRACT AND COMPANY'S GENERAL BUSINESS
PROFILE
I Registration Details
Registration No.
: 04-31424
State Code : 04
Balance Sheet Date : 31st, March, 2007
II Capital Raised during the year (Amount in Rs. Thousands)
Public Issue
Right Issue
Bonus Issue
Private Placement
Share Capital
Share Application money
III Position of Mobilisation and Deployment of Funds (Amount in Rs.)
Total Liabilities
Total Assets
16620
16620
Sources of Funds
Paid-up Capital
Reserves & Surplus
100
16520
Secured Loans
Unsecured Loans
-

Application of Funds
Net Fixed Assets
5265
Net Current Assets
938
Accumulated Losses
IV. Performance of Company (Amount in Thousand)
Turnover(net)
30891
Profit Before Tax
4051
Earning per Share in Rs.
267

Investments
10144
Misc. Expenditure
274

Total Expenditure
26840
Profit After Tax
2680
Dividend Rate %

V Generic Names of Three Principal Products/Services of Company
(as per monetary terms)
ITEM CODE NO.
: NA
NOT MADE AVAILABLE
PRODUCT DESCRIPTION : SILICA SAND

As per our attached report of even date
For S.B.LUHARUKA & CO.
CHARTERED ACCOUNTANT

For and on behalf of the board

S.B.LUHARUKA

SANTOSH TIBDEWAL

SHAILESH SHETH

Proprietor

Executive Director

Director

Place : Bharuch
Date : 01-09-07