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NOTES TO ACCOUNTS

Suchitra Finance & Trading Company Ltd.

You can view the entire text of Notes to accounts of the company for the latest year
Market Cap. (₹) 58.87 Cr. P/BV 0.66 Book Value (₹) 95.99
52 Week High/Low (₹) 78/51 FV/ML 10/1 P/E(X) 6.39
Bookclosure 30/09/2019 EPS (₹) 9.88 Div Yield (%) 0.00
Year End :2018-03 

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2018

(Amounts in

Note No.

Particulars

As at 31st March, 2018

As at 31st March, 2017

2

Share Capital

Authorised :

9500000 (P.Y. 9500000) Equity Shares of Rs. 10/- each

9,50,00,000

9,50,00,000

Issued, Subscribed and Paid-up:

9322550 (P.Y. 9322550) Equity Shares of Rs. 10/- each

9,32,25,500

9,32,25,500

9,32,25,500

9,32,25,500

a. The number of shares and amount outstanding at the beginning and at the end of the reporting year is same.

b. The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each holder of equity share is entitled to same right in all the assets.

c. Detail of shares held by the holding company

Particulars

No. of Shares Held

No. of Shares Held

Marigold Investrade Private Limited

5880250

5505850

d. Shares in the Company held by each shareholders holding more than 5% shares:

No. of Shareholders each holding more than 5% of the share capital

No. of Shares Held Percentage of holding

No. of Shares Held Percentage of holding

One shareholder (P.Y. One shareholder)

5880250

5505850

63.08%

59.06%

3

Reserves & Surplus

a. Statutory Reserve / Special reserve as per RBI Act

1,95,000

1,95,000

Add: Set aside during the year

1,47,24,000

NIL

Closing Balance

1,49,19,000

1,95,000

b. Amalgamation Reserve (Opening & Closing Balance)

61,26,51,582

61,26,51,581

c. General Reserve

Opening Balance

NIL

NIL

Add: Addition during the year

1,84,04,000

NIL

Closing Balance

1,84,04,000

NIL

d. Surplus in Statement of Profit and Loss

Opening Balance

4,78,21,580

41,57,030

Add: Net Profit for the current year

7,36,15,247

4,36,64,550

Amount Available for appropriations

12,14,36,828

4,78,21,580

Less : Transfer to Reserve Fund in terms of section 45-IC(1) of the Reserve Bank of India Act, 1934

1,47,24,000

NIL

Less : Transfer to General Reserve

1,84,04,000

NIL

Dividend

93,22,550

NIL

Tax on Dividend

18,97,852

NIL

Closing Balance

7,70,88,426

4,78,21,580

72,30,63,007

66,06,68,162

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2018

(Amounts in Rs)

Note No.

Particulars

As at 31st March, 2018

As at 31st March, 2017

4

Long-term Borrowings

Secured*

- Term Loan from IL&FS Financial Services Ltd

41,03,65,365

50,00,00,000

Less: Amount disclosed under the head

10,52,80,000

7,89,47,367

Other Current Liabilities (Refer Note 8)

30,50,85,365

42,10,52,633

* The term loan from financial institution is repayable in 19 equated quarterly instalments starting from 1st July, 2017. The loan is secured against hypothecation of receivables of loans advanced to Kalyan Sangam Infratech Ltd. and Kalyan Toll Infrastructure Ltd. Current maturity of loan due and payable within a year is classified as other current liabilities (Refer Note 8).

5

Long -term Provisions

Contingent Provision against Standard Assets

76,56,873

37,05,215

76,56,873

37,05,215

6

Short-term Borrowings

Unsecured

--Loans from Others

2,02,84,16,890

55,58,75,352

2,02,84,16,890

55,58,75,352

7

Short-term Provisions

Provision for Tax (net of taxes paid)

78,19,297

53,98,702

78,19,297

53,98,702

8

Other Current Liabilities

Current maturity of long-term borrowings (Refer Note 4)

10,52,80,000

7,89,47,367

Statutory Dues

66,61,385

54,13,453

Other Payables

3,22,705

3,62,057

Unclaimed Dividend

72,446

Nil

11,23,36,536

8,47,22,877

9 Tangible Fixed Assets

(Amounts in Rs)

GROSS BLOCK

DEPRECIATION

NET BLOCK

Description

As AT 01/04/17

ADDITIONS/ (DEDUCTIONS)

As At 31/03/18

As At 01/04/17

FOR THE YEAR

As At 31/03/18

As At 31/03/18

As At 31/03/17

COMPUTER/ PRINTER

53,025

NIL

53,025

46,639

3,490

50,129

2,896

6,386

AIR CONDITIONER

23,500

NIL

23,500

21,165

1,160

22,325

1,175

2,335

Total

76,525

NIL

76,525

67,804

4,650

72,454

4,071

8,721

Previous Year

76,525

NIL

76,525

55,898

11,906

67,804

8,721

20,627

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2018

Note No.

Particulars

As at 1st March, 2018

As at 31st March, 2017

10

Non-current Investments

Non-trade Investments

Unquoted

Investment in Equity Instruments

1200 (1200) Eq. Shares of Rs.100/- each of Finworth Investment Pvt. Ltd.

12,00,000

12,00,000

10000 (10000) Eq. Shares of Rs.10/- each of Parishray Elegancy Pvt. Ltd.

10,00,000

10,00,000

10000 (10000) Eq. Shares of Rs.10/- each of Pisces Securities Pvt. Ltd.

10,00,000

10,00,000

6665 (6665) Eq. Shares of Rs. 10/- each of Shiv Shivam Developers Pvt. Ltd

12,99,675

12,99,675

44,99,675

44,99,675

Investment in Preference Shares

2000000 (2000000) Pref. Sh. of Rs. 10/- each of Keti Sangam Infrastructure (India) Limited

20,05,00,000

20,05,00,000

20,05,00,000

20,05,00,000

Total Non -current Investments

20,49,99,675

20,49,99,675

11

Deferred Tax Asset

Major components of Deferred Tax Asset arising on account of temporary timing differences are given below:

Deferred Tax Asset

Difference between Book & Tax Depreciation

2,663

2363

Deferred Tax Liability

Difference between Book & Tax Depreciation

NIL

NIL

Deferred Tax Asset (net)

2,663

2,363

12

Long-term Loans & Advances

(Unsecured, considered good)

Security Deposits

10,00,000

10,00,000

Other Loans & Advances

-- Advance Income Tax (net of Provision)

4,80,294

7,24,146

-Service Tax Credit Available

NIL

10,441

-GST Credit Available

17,399

NIL

14,97,693

17,34,587

13

Cash & Bank Balances

Cash & Cash Equivalents

-Cash on Hand

33,061

58,038

-Balance with Bank

in Current Account

82,44,509

1,59,027

Other Bank Balances

-in Unpaid Dividend Accounts

72,446

NIL

83,50,016

2,17,065

Note No.

Particulars

As at 31st March, 2018

As at 31st March, 2017

14

Short-term Loans & Advances

(Unsecured, considered good)

Loans and Advances

to Staff

NIL

21,500

to Others

3,06,27,49,348

1,48,20,64,531

3,06,27,49,348

1,48,20,86,031

15

Other Current Assets

Other Receivables

NIL

13,56,00,000

NIL

13,56,00,000

16

Revenue From Operations

Interest on Loan

21,58,35,560

9,08,88,000

Syndication Fees

2,75,15,800

3,61,02,749

24,33,51,360

12,69,90,749

17

Other Income

Interest on I.T.Refund

15,847

NIL

15,847

NIL

18

Employee Benefits Expenses

Salary, bonus etc.

12,64,736

10,99,865

Staff Welfare

3,058

1,425

12,67,794

11,01,290

19

Finance Costs

Interest on Loan

12,66,27,914

4,62,50,769

Interest on deferement of advance tax

6,70,225

5,67,827

Franking Charges and Stamp Duty

10,57,340

10,31,820

Processing Fees for Loan

NIL

53,26,500

12,83,55,479

5,31,76,916

20

Other Expenses

Listing Fees

2,88,359

2,49,038

Professional Fees

33,75,806

35,29,330

Legal Fees

53,875

1,00,500

Depository Charges

48,488

68,701

Advertisement

35,681

54,743

Auditors' Remuneration

- For Statuory Audit

38,625

25,125

- For Tax Audit

16,450

10,050

- For Income Tax Matters

Nil

2,512

- For Certification & Other Matters

10,700

13,754

Internal Audit Fees

32,700

17,250

Secretarial Audit Fees

63,100

29,500

21 Segment Reporting

The Company is engaged solely in financial & investment activity segment and all activities of the Company revolve around this business. As such there are no other reportable segment as defined by Accounting Standard -17 on "Segment Reporting" issued by the Institute of Chartered Accountants of India.

22 As per Accounting Standard -18 on" Related Party Disclosure" issued by the Institute of Chartered Accountants of India, there were no transactions and outstanding year end balance with related parties during the year.

24 A dividend at the rate of Rs. 1.20 per share for the year 2017-18 has been recommended by the Board of Directors for declaration at the ensuing Annual General Meeting. The said dividend and dividend distribution tax on such dividend aggregating to Rs. 1,34,86,593/- is not provided in the accounts in conformity with the Accounting standard (AS 4) as revised.

25 Previous year figures

Previous Year's figures have been regrouped/reclassified, wherever necessary, to correspond with the current year's classification/disclosures.

Note No.

Particulars

As at 31st March, 2018

As at 31st March, 2017

Filing Fees

1,000

10,885

Printing & Stationery

4,307

5,461

Office Rent

3,26,063

1,26,300

Membership Fees

21,800

26,525

Sundry Expenses

1,14,528

57,214

Postage and Courier Charges

15,026

4,739

Profession Tax

2,500

2,500

Web Designing Charges

7,750

7,500

Telephone Expenses

3,188

Nil

Travelling Expenses

4,380

Nil

44,64,325

43,41,627

23 Earnings PerShare (EPS)

2017-18

2016-17

a)

Weighted Average Number of Equity Shares outstanding during the year

9322550

9322550

b)

Net Profit after tax available for Equity Shareholders (Rs.)

7,36,15,247

4,36,64,550

c)

Basic and Diluted Earnings Per Share (Rs.)

7.90

4.68

d)

Nominal Value Per Share (Rs.)

10/-

10/-

The Company does not have any outstanding dilutive potential equity shares.

For and on behalf of the Board

For S. S. Rathi & Co
Chartered Accountants

For Suchitra Finance & Trading Co. Ltd.

(Firm Regn. No.108726W)

D. P. Rathi

Vinod K. Sodani

Anjana Soni Thakur

Partner

Chairman

Whole Time Director

Mem. No. 042068

DIN: 00403740

DIN: 00401469

Place : Mumbai

Govinda Soni

Antima Soni

Dated: 30th May, 2018

Company Secretary

Chief Financial Officer

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