The Govind Poy Oxygen Ltd is a company registered under Companies Act, 1956. The shares of the company is listed with Bombay Stock Exchange (BSE). The Company is in the business of production and trading of Medical Oxygen, Industrial Oxygen, Argon, Nitrogen, Dissolved Acetylene, etc.

2) Share Capital

The Company has only one class of shares referred to as equity shares with a face value of Rs. 10/- each. Each holder of equity share is entitled to one vote per share.

3) In the opinion of the Directors

i) Current Assets, Loans and Advances have at least the values at which they are stated in the Balance Sheet, realised in the Ordinary Course of

ii) All known liabilities other than contingent liabilities are provided for.

4) Contingent liabilities not provided
for:
                                             Year ended  Year ended
Particulars                                  31.03.2014  31.03.2013
                                             Rupees      Rupees

Guarantees issued by the bank 
on behalf of the Company                        -        1,185,000

Disputed Excise Duty demands is 
in appeal before Supreme Court                670,488      670,488

The Company has identified two reportable segments viz. Gases and Investments. Segments have been identified and reported taking into account nature of products and services, the differing risk and returns and the internal business reporting systems. The accounting policies adopted for segment reporting are in line with the accounting policy of the Company with following additional policies for segment reporting.

(a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "Unallocable".

(b) Segment assets and segment liabilties represent assets and liabilities in respective segments. Tax related assets and other assets and liabilities that cannot be allocated to a segments on reasonable basis have been disclosed as "Unallocable".

6) Disclosure of transactions with related parties as required by Accounting Standard - 18 on related party disclosures as prescribed by Companies (Accounting Standards) Rules, 2006.

A Related parties and nature of relationship

i) Key Management Personnel

- Shri Sanjay A. Poy Raiturcar - Managing Director

- Shri Manohar S. Usgaonkar

- Shri Ashok Panvelkar

- Shri Nitin A. Kunkolienkar

- Mrs Binita S. Poy Raiturcar

- Shri Sudin M. Usgaonkar

ii) Enterprises over which persons in (i) above are able to exercise significant influence:

- Nasik Oxygen Co. Pvt. Ltd.

- Fabrica de Gas Carbonico Pvt. Ltd.

- Nalanda Agencies Pvt. Ltd.

- Venkatesh Automobiles