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NOTES TO ACCOUNTS

Ishan Dyes & Chemicals Ltd.

You can view the entire text of Notes to accounts of the company for the latest year
Market Cap. (₹) 44.71 Cr. P/BV 1.08 Book Value (₹) 25.94
52 Week High/Low (₹) 52/20 FV/ML 10/1 P/E(X) 10.33
Bookclosure 10/05/2019 EPS (₹) 2.71 Div Yield (%) 0.00
Year End :2018-03 

1] Vehicle Loan is Secured by Hire Purchase of vehicle where the vendors have a lien on and right of repossession of specific vehicle. The loan is repayable in remaining 6 monthly installments by September' 18 and carries interest rate of 9.38% p.a.

2] Machinery Loan is primarily Secured against first & exclusive charge on all movable machinery of the company including all stores, spare parts, both present and future being and lying at company's premises or go-down or rented place by the company. Further, secured against equitable mortgage by deposit of title deeds with the bank as security in respect of loan faculties/limits viz cash credit, ILC/FLC open cum bank guarantee and machinery loan, The term loan is repayable in 24 monthly installments and carries interest rate of 11.25% p.a.

3] Machinery Term Loan is for the purpose of purchase of machineries, equipment’s and other movable fixed assets and such term loan is primarily Secured against first & exclusive charge by way of equitable mortgage of factory land. Further, secured by way of hypothecation of entire machineries, electrode installations, furniture & fixtures, office equipment’s and other movable fixed assets of the company, situated at the factories, present and future. The term loan is repayable in 60 monthly installments and carries interest rate of 9.50% p.a.

4] Other Term loan is for the purpose of construction of industrial land and such term loan is primarily Secured against first & exclusive charge by way of equitable mortgage of factory land. Further, secured by way of hypothecation of entire machineries, electrode installations, furniture & fixtures, office equipment’s and other movable fixed assets of the company, situated at the factories, present and future. The term loan is repayable in 60 monthly installments and carries interest rate of 9.50% p.a.

5] Repayable on demand.

As per Indian Accounting Standard 19 "Employee benefits", the disclosures as defined are given below:

Defined Contribution Plans

The Company offers its employees defined contribution plans in the form of Provident Fund (PF) and Employees 'Pension Scheme (EPS) with the government, and certain state plans such as Employees' State Insurance (ESI). PF and EPS cover substantially all regular employees and the ESI covers certain workers. Contributions are made to the Government's funds. While both the employees and the Company pay predetermined contributions Into the Provident Fund and the ESI Scheme, contributions into the Pension fund is made only by the Company. The contributions are normally based on a certain proportion of the employee's salary. During the year, the Company has recognized the following amounts in the Account towards company's contribution:

Defined Benefit Plans

Gratuity: The Company makes annual contributions to Employees' Group Gratuity-cum Life Assurance (Cash Accumulation) Scheme of LIC, a funded defined benefit plan for qualifying employees. The scheme provides for payment to vested employees as under:

a) On normal retirement / early retirement / withdrawal / resignation:

b) As per the provisions of Payments of Gratuity Act, 1972 with vesting period of 5 years of service.

c) On the death in service:

d) As per the provisions of Payment of Gratuity Act, 1972 without any vesting period.

Death Benefit The Company provides for death benefit, a defined benefit plan (death benefit plan) to certain categories of employees. The death benefit plan provides a lump sum payment to vested employees on death, being compensation received from the insurance company and restricted to limits set forth in the said plan. The death benefit plan is non-funded.

The estimate of future increase in compensation levels, considered in the actuarial valuation, have been taken on account of inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market The above information has been certified by the actuary and relied upon by the auditors.

(*) marked details are not filled up for FY 2017-18 because it is not applicable as per Acturial Valuation Report due to adoption of IND AS from 01/04/2017 by the company. Employee benefits are accounted and shown as per Acturial Valuation Report as on 31st March 2018.

Note 1- The Company has received a Intimation u/s 154 of the Income Tax Act 1961 for AY 2015-16, 2016-17, AY 2017-18 and Prior Years.

Note 2- The Company has filed an appeal against CST Penalty order for FY 2011-12 Note 3- The Company has filed an appeal against VAT Penalty order for FY 2011-12

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Figures in brackets ( ) are pertaining to previous year Note - 37 DIRECTORS RE MMUNE RATION

Salary of Rs. 42,00,000/- & Bonus - Rs. 4,62,000/Note - 38 Balance due to / from third parties are subject to confirmation, reconciliation, and / or adjustments, if any.

Note - 6 In the opinion of the board, Loans and Advances and Current Assets are approximately of the value stated, if realized in the ordinary course of business.

Note - 7 The company has only one segment of activity i.e. Chemicals

Note - 8 Net Exchange Gain Included in the profit and loss account is Rs. 88,93,201/- (Loss in PY Rs. 3,63,387/-].

Note - 9 Previous year’s figures have been regrouped or reclassified wherever necessary to correspond with the current year’s classification or disclosure. Please refer to note no. 44 for recondlliation between financials prepared under Revised Schedule VI vis a vis IND AS.

Note - 10 Figures have been rounded off to the nearest rupee.

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