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NOTES TO ACCOUNTS

Sirca Paints India Ltd.

You can view the entire text of Notes to accounts of the company for the latest year
Market Cap. (₹) 676.07 Cr. P/BV 7.14 Book Value (₹) 34.57
52 Week High/Low (₹) 255/134 FV/ML 10/1 P/E(X) 30.40
Bookclosure 10/07/2019 EPS (₹) 8.11 Div Yield (%) 0.00
Year End :2018-03 

1.1 Corporate Information

SIRCA PAINTS INDIA LIMITED (Formerly known as SIRCA PAINTS INDIA PRIVATE LIMITED and earlier known as Sircolor Wood Coatings Private Limited, is a public limited company domiciled in India and incorporated under the provisions of The Companies Act, 1959/2013. The company is engaged in the business of all sole distribution of sirca wood coatings Italy, which has progressively grown up to a significant position on the wood coatings Italian market, becoming one of the four top companies in this segment. The company also has one of the most advanced production systems for alkyd resins, unsatured polysters, direct gloss polysters and polyisocyanates, so Sirca can rely on a technical synergy that sets the company in the market with particular quality and competitiveness power. Our product range includes all PU products, saints, special effects, acrylic PU,

1.2 Corporate Social Responsibility

As per Section 135 of the Companies Act, 2013, a company, meeting the applicability threshold, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities. The areas for CSR activities are eradication of hunger and malnutrition, promoting education, art and culture, healthcare, destitute care and rehabilitation, environment sustainability, disaster relief and rural development projects.

The gross amount required to be spent by the Company during this FY year is Rs 15,76,928.47, for the financial year 2015-16 is Rs. 8,84,802.29 and for the Financial year 2014-15 Rs. 3,83,801.44, total amounting to Rs.28,39,199/- The company has spent Rs. 28,39,199/- on 02/06/2017.

1.3 Segment Reporting

As the Company’s business activity primarily falls within a single business and geographical segment, there are no additional disclosures to be provided in terms of Accounting Standard - 17 Segment Reporting.

I .Name of related parties and description of relationship:

I. Holding Enterprise : NIL 2. Subsidiaries : NIL 3. Fellow Subsidiaries NIL 4. Associates NIL

5. Key Management Personnel :

Board of Directors :

i) Mr. Sanjay Agarwal ii) Mr. Apoorv Agarwal CFO - Bharat Bhushan Arora Company Secretary - Chahat Mahajan

II. T ransaction carried out with related parties in the ordinary course of business is as follows:

a. There is no related party transaction carried-out during the year except as mentioned here-below:-

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period are adjusted for the effects of all diluting potential equity shares.

1.4 MSMED ACT. 2006

Since the management does not possess the required information about the enterprises covered under MSMED Act, 2006 therefore comment on dues to units covered MSMED Act, 2006 is not possible.

1.5 The figures of previous year has been regrouped/rearranged /recasted to confirm to those of current year

1.6 Approval of Financial statements

The F inancial statements were approved for issue by the Board by the Directors.

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