అకౌంట్స్ గమనికలుMarvel Vinyls Ltd.

Mar 31, 2014

1. Corporate information

Marvel Vinyls Limited (the Company] is a public limited company domiciled in India and incorporated on May 30, 1985 under the provisions of Indian Companies Act, 1956. The Company operates 3 manufacturing units in India, manufacturing of PVC Film and Sheeting. PVC Floor Covering, PVC Coated/ Lamnated Fabric and Knitted Fabrics. The Company caters to both domestic and international markets.

2. Basis of preparation

The financial statements are prepared on accrual basis under the historical cost convention as supplemented by revaluation of certain assets, in accordance with the generally accepted accounting principles in India and to comply with the Accounting Standards referred to in sub section (3C] of section 211 of the Companies Act,1956 including the Rules framed there under,

3. Use of estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates end assumptions that affect the reported balances of assets and liabilites and the disclosure relating to contingent fiabilities as at the date of financial statements and reported amount of income and expenses during the period. Difference between the actual results and estimates ere recognised in the year in which the results are known or materialized.

4. Contingent liabilities not provided for in respect of :

i Bank Guarantees 23.82 83.00

ii. Disputed Excise Duty Matters 322.49 240.95 in Disputed Sates/Trade Tax Matters - 1-43

5. The Gross Sales and Cost of material as shown in the Statement of Profit S Loss are net of intar- divisiansl transfers of Rs. B2D3.99 Lacs [Rs.7552.14 lacs in previous year] as per the Accounting Standard 9 issued by The Institute of Chartered Accountants of India. The Gross sales indusive of inter -divisional transfers stands at Rs. 27340.78 lacs [previous year-Rs.25404,28 lacs].

6. Provision for Gratuity and Leeve Encashments are made by the Company et the year end on the assumption that such benefit is payable to at employees at the end of the accounting year. An incremental provision of Rs, 15.56 lacs towards Gratuity and Rs. 7.03.toes towards Leave Encashment has been charged to the Statement of Profit & Loss for the year under consideration.

7. The company had revalued its Factory Land & Building and the Plant S Machinery instatlod therein of its Sahibahad Unit as on 01.04.1993 as per the revaluation done by the approved valuer . The revaluation of assets hod resulted in increase in the value of assets by Rs.GBS 79 lacs and the same was transferred to Revaluation Reserve Consequent to the said revaluation there is an additional charge of depreciation of Rs.4.B4 Lacs [Previous Year Rs. 4.84 Lacs] and an equivalent amount, has been withdrawn from Revaluation Reserve and credited to the Statement of Profit and Loss . This has no impact on profit for the year. The accumulated depreciation on revalued assets adjusted egoinst the Revaluation Reserve upto 31st March 2014 is Rs.484.01 Lacs.

8. Un -Secured Loans are received by the Company from the Promoters, their relatives and their associates due to a special condition proposed by the Banker of the Company from whom finandes/ secured bans have been availed for the purposes of its business. Accordingly such unsecured loans are not covered under the purview of Companies [Acceptance of Deposit] Rules,1975. Hence, the provisions of section 50-A is not applicable on such deposits.

9. Dmdend of Rs. 3B.D0 Lacs on 1B% Cumulative Redeemable Pref.Share Capital has been proposed and provided for the current year. Arrears of Preference Share dividend tiD 31st March.2014 is Rs.283.00 Lacs [Previous year Rs. 289.00 Lacs] .

10. In compliance of Accounting Standard 18 on "Related Party Disclosures" issued by the ICAI. details pertaining to related party transactions are as follows :

A. Names of related

i. Key Management: Personnel

1. Mr. Pavan Chawla - Managing Director

2. Mr. Pankaj Chawla - Whole Time Director

3. Mr. Ankit Chawla

ii. Relatives of Key Management Personnel

1. Mrs. Puneeta Chawla & Mrs, Saroj Chawla

2. Mrs-Yamtni Chawla

3. Mr. Saksham Chawla

iii. Associate Concerns

1. M/s Ganesh Das & Co.

2. M/s Ganesh Das & Sons [HUF]

3. M/s Soave Enterprises [P] Ltd,

4. Mr. Pavan Chawla [HUF]

5. Mr. Panka) Chawla (HUF]

11. The Company have various cancellable operating leases for Offices & Godowns that are renewable on annual basis and cancellable at its option. Rental expenses for operating leases recognised in Profit & Loss Account and amount within the purview of AS-19 on Leases is Rs.13.32 lacs.

12. Expenditure on account of Premium on forward exchange contracts to be recognised in the Profit and Loss account of subsequent accounting penod aggregates Rs. Nit,[ Previous year Rs. Nil].

13. Expenditure due to Loss in exchange fiuctation of foreign currency of Rs.54.9S Lacs for the year includes notional loss of Rs.31.68 lacs on conversion of foreign currency [as per FBI rate] on reporting date as per AS-11 issued by ICAI on the effect of changes in foreign exchange rates.

14. Letters of confirmation of outstanding balances are awaited in certain cases. Rjrther. the Company has not received any intimation from any of its transacting party that they are registered under the Micro.SmaJI & Medium Enterprises Development Act,2006. So the information required to be furnished under the MSMED Act is not applicable.

15. The Purchase of Raw Materia! shown in the Balance Sheet is net of sales of old empty drums and paper bags.

16. Previous year''s figures have been rearranged/regrouped wherever necessary to make them comparable with current figures.

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Mar 31, 2013

1. Corporate information

Marvel Vinyls Limited [the Company] is a public limited company domiciled in India and incorporated on May 30, 1985 under the provisions of Indian Companies Act, 1956. The Company operates 3 manufacturing units in India, manufacturing of PVC Film and Sheeting, PVC Floor Covering, PVC Coated/ Laminated Fabric and Knitted Fabrics. The Company caters to both domestic and international markets.

2. Basis of preparation

The financial statements are prepared on accrual basis under the historical cost convention as supplemented by revaluation of certain assets, in accordance with the generally accepted accounting principles in India and to comply with the Accounting Standards referred to in sub section [3C] of section 211 of the Companies Act, 1956 including the Rules framed there under.

3. Use of estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported balances of assets and liabilites and the disclosure relating to contingent liabilities as at the date of financial statements and reported amount of income and expenses during the period. Difference between the actual results and estimates are recognised in the year in which the results are known or materialized.

4. The Gross Sales and Cost of material as shown in the Statement of Profit &.Loss are net of inter- divisional transfers of Rs. 7552.17 Lacs [Rs.6014.84 lacs in previous year] as per the Accounting Standard - 9 issued by The Institute of Chartered Accountants of India. The Gross sales inclusive of inter-divisional transfers stands at Rs.25404.28 lacs [previous year-Rs. 19759.48 lacs).

5. Provision for Gratuity and Leave Encashments are made by the Company at the year end on the assumption that such benefit is payable to all employees at the end of the accounting year. An incremental provision of Rs. 11.29 lacs towards Gratuity and Rs. 5.84,lacs towards Leave Encashment has been charged to the Statement of Profit S. Loss for the year under consideration.

6. The company had revalued its Factory Land S. Building and the Plant & Machinery installed therein of its Sahibabad Unit as on 01.04.1993 as per the revaluation done by the approved valuer . The revaluation of assets had resulted in increase in the value of assets by Rs.686.79 lacs and the name was transserred to Revaluation Reserve. Consequent to the said revaluation there is an additional charge of depreciation of Rs.4.84 Lacs (Previous Year Rs. 4.84 Lacs] and an equivalent amount, has been withdrawn from Revaluation Reserve and credited to the Statement of Profit and Loss . This has no impact on profit for the year. The accumulated depreciation on revalued assets adjusted against the Revaluation Reserve upto 31st March 2013 is Rs.479.17 Lacs.

7. Un -Secured Loans are received by the Company from the Promoters and their associates due to a special condition proposed by the Banker of the Company from whom financies/ secured loans have been availed for the purposes of its business. Accordingly such un-secured loans are not covered under the purview of Companies (Acceptance of Deposit] Rules,1975. Hence, the provisions of section 58-A is not applicable on such deposits.

8. Dividend of Rs. 36.00 Lacs on 18% Cumulative Redeemable Pref.Share Capital has been proposed and provided for the current year. Arrears of Preference Share dividend till 31st March,2013 is Rs.2BB.00 Lacs [Previous year Rs. 28B.00 Lacs)

9. In compliance of Accounting Standard 18 on "Related Party Disclosures" issued by the ICAI, details pertaining to related party transactions are as follows :

A. I. Names of related

i. Key Management Personnel

1. Mr. Pavan Chawla - Managing Director

2. Mr. Pankaj Chawla - Whole Time Director

3. Mr. Ankit Chawla

ii. Relatives of Key Management Personnel

1. Mrs. Puneeta Chawla & Mrs. Saroj Chawla

2. Mrs.Yamini Chawla

iii. Associate Concerns

1. M/s Ganesh Das S. Co.

2. M/s Ganesh Das & Sons [HUF]

3. M/s Suave Enterprises [P] Ltd.

4. Mr. Pavan Chawla [HUF]

5. Mr. Pankaj Chawla [HUF]

10. The Company have various cancellable operating leases for Offices 8. Godowns that are renewable on annual basis and cancellable at its option. Rental expenses for operating leases recognised in Profit & Loss Account and amount within the purview of AS-19 on Leases is Rs.28.63 lacs.

The Company has entered into finance lease arrangements for vehicles. Some of the significant terms and conditions of such leases are as follows :

11. Primary Segment : The Company is primarily engaged in the business of PVC products, which is governed by the same set of risk and return and hence, it is not required to furnish segment wise reporting for Business Segmnent. Hence, the Geographical Segment has been presumed to the Primary Segment as per AS-17 issued by the ICAI. The analysis of geographical segment is based on the above currency risks.

The Company has common fixed assets for producing goods for domestic and International market, hence separate figure for capital employed can not be furnished.

12. Expenditure on account of Premium on forward exchange contracts to be recognised in the Profit and Loss account of subsequent accounting period aggregates Rs. Nil,[ Previous year Rs. 1.21 Lacs].

13. Income due to Profit in exchange fluctation of foreign currency of Rs.9S.77 Lacs for the year includes notional profit of Rs.41.71 lacs on conversion of foreign currency [as per RBI rate] on reporting date as per AS-11 issued by ICAI on the effect of changes in foreign exchange rates.

14. Letters of confirmation of outstanding balances are awaited in certain cases. Further, the Company has not received any intimation from any of its transacting party that they are registered under the Micro,Small & Medium Enterprises Development Act,2006. So the information required to be furnished under the MSMED Act is not applicable.

15. The Purchase of Raw Material shown in the Balance Sheet is net of sales of old empty drums and paper bags.

16. Previous year''s figures have been rearranged/regrouped wherever necessary to make them comparable with current figures.

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Mar 31, 2012

1. Corporate information

Marvel Vinyls Limited (the Company) is a public limited company domiciled in India and incorporated on May 30, 1985 under the provisions of Indian Companies Act, 1956. The Company operates 3 manufacturing units in India, manufacturing of PVC Film and Sheeting, PVC Floor Covering, PVC Coated/Laminated Fabric and Knitted Fabrics. The Company caters to both domestic and international markets.

2. Basis of preparation

The financial statements are prepared on accrual basis under the historical cost convention as supplemented by revaluation of certain assets, in accordance with the generally accepted accounting principles in India and to comply with the Accounting Standards referred to in sub section (3C) of section 211 of the Companies Act, 1956 including the Rules framed there under.

During the year ended March 31, 2012, the revised schedule VI notified under the Companies Act, 1956 has become applicable to the Company, for preparation and presentation of its financial statements. The adoption of revised schedule VI does not impact recognition and measurement principle followed for preparation of financial statements. However, it has significant impact on presentation and disclosures made in the financial statements. The Company has also reclassified/regrouped the previous year figures in accordance with the requirements applicable in the current year.

3. Use of estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported balances of assets and liabilities and the disclosure relating to contingent liabilities as at the date of financial statements and reported amount of income and expenses during the period. Difference between the actual results and estimates are recognised in the year in which the results are known or materialized.

4. Share Capital

b. Terms/Rights attached to Shares

Equity Shares

The company has only one class of Equity Shares having a par value of Rs. 10 per Share. Each holder of equity is entitled to one vote per share.

Preference Shares

The company has only one class of 18% Cumulative Redeemable Preference Shares having a par value of Rs. 100/- per share. The Preference share are due for redemption on 01.04.2014.

5. Long Term Borrowings

Notes :

i. Term Loan availed from Union Bank of India are secured against existing and future current and fixed assets of the Company in addition to personal guarantee of two directors.

ii. Vehicle Loans are secured against vehicles acquired by the Company.

6. Short Term Borrowings

i. Working Capital Loan availed from Union Bank of India are secured against existing and future current and fixed assets of the Company in addition to personal guarantee of two directors.

ii. In Foreign Currency Loan includes a sum of Rs. 518.72 Lacs as buyers credit disbursement against Bank Guarantees provided by Union Bank of India and Rs. 81.85 lacs as PCFC availed from Union Bank of India.

7. Contingent liabilities not provided for in respect of :

(Rs. in lacs)

AS AT AS AT 31.03.2012 31.03.2011

i. Bank Guarantees 68.79 4.73

ii. Disputed Excise Duty Matters 2.91 8.11

iii. Disputed Sales/Trade Tax Matters 2.38 9.18



8. The Gross Sales and Cost of material as shown in the Profit & Loss A/c are net of inter-divisional transfers of Rs. 6014.84 Lacs (Rs. 5486.24 lacs in previous year) as per the Accounting Standard - 9 issued by The Institute of Chartered Accountants of India. The Gross sales inclusive of inter- divisional transfers stands at Rs. 19759.48 lacs (previous year-Rs. 15056.55 lacs).

9. Provision for Gratuity and Leave Encashments are made by the Company at the year end on the assumption that such benefit is payable to all employees at the end of the accounting year. An incremental provision of Rs. 10.93 lacs towards Gratuity and Rs. 2.93,lacs towards Leave Encashment has been charged to the Profit & Loss account for the year under consideration.

10. The company had revalued its Factory Land & Building and the Plant & Machinery installed therein of its Sahibabad Unit as on 01.04.1993 as per the revaluation done by the approved valuer. The revaluation of assets had resulted in increase in the value of assets by Rs. 686.79 lacs and the same was transferred to Revaluation Reserve. Consequent to the said revaluation there is an additional charge of depreciation of Rs. 4.84 Lacs (Previous Year Rs. 4.84 Lacs) and an equivalent amount, has been withdrawn from Revaluation Reserve and credited to the Profit and Loss Account. This has no impact on profit for the year. The accumulated depreciation on revalued assets adjusted against the Revaluation Reserve upto 31st March 2012 is Rs. 474.33 Lacs.

11. Un-Secured Loans are received by the Company from the Promoters and their associates due to a special condition proposed by the Banker of the Company from whom finances/secured loans have been availed for the purposes of its business. Accordingly such un-secured loans are not covered under the purview of Companies (Acceptance of Deposit) Rules,1975. Hence, the provisions of section 58-A is not applicable on such deposits.

12. Dividend of Rs. 36.00 Lacs on 18% Cumulative Redeemable Pref.Share Capital has been proposed and provided for the current year. Arrears of Preference Share dividend till 31st March, 2012 is Rs. 288.00 Lacs (Previous year Rs. 288.00 Lacs).

13. In compliance of Accounting Standard 18 on "Related Party Disclosures" issued by the ICAI, details pertaining to related party transactions are as follows :

A. I. Names of related

i. Key Management Personnel

1. Mr. Pavan Chawla - Managing Director

2. Mr. Pankaj Chawla - Whole Time Director

ii. Relatives of Key Management Personnel

1. Mrs. Puneeta Chawla & Mrs. Saroj Chawla

2. Mr..Ankit Chawla

3. Mrs.Yamini Chawla

iii. Associate Concerns

1. M/s. Ganesh Das & Co.

2. M/s. Ganesh Das & Sons (HUF)

3. M/s. Suave Enterprises (P) Ltd.

4. Mr. Pavan Chawla (HUF)

5. Mr. Pankaj Chawla (HUF)

14. The Company have various cancellable operating leases for Offices & Godowns that are renewable on annual basis and cancellable at its option. Rental expenses for operating leases recognised in Profit & Loss Account and amount within the purview of AS-19 on Leases is Rs. 28.88 lacs.

15. Expenditure on account of Premium on forward exchange contracts to be recognised in the Profit and Loss account of subsequent accounting period aggregates Rs. 1.21 Lacs.

16. Expenditure due to loss in exchange fluctuation of foreign currency of Rs. 19.34 Lacs for the year includes notional profit of Rs. 1.46 lacs on conversion of foreign currency (as per RBI rate) on reporting date as per AS-11 issued by ICAI on the effect of changes in foreign exchange rates.

17. Letters of confirmation of outstanding balances are awaited in certain cases. Further, the Company has not received any intimation from any of its transacting party that they are registered under the Micro, Small & Medium Enterprises Development Act, 2006. So the information required to be furnished under the MSMED Act is not applicable.

18. The Purchase of Raw Material shown in the Balance Sheet is net of sales of old empty drums and paper bags.

19. All the figures have been rounded off to the nearest of rupee.

20. Previous year's figures have been rearranged/regrouped wherever necessary to make them comparable with current figures.

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Mar 31, 2011

1. Estimated amount of contracts remaining to be executed on capital account and not provided for Rs. NIL (Previous year - Rs. NIL)

2. Contingent liabilities not provided for in respect of :

2010-11 2009-10

a. Bank Guarantees Rs. 473,076 4,737,724

b. Disputed Excise Duty Matters Rs. 811,380 1,824,532

c. Disputed Sales/Trade Tax Matters Rs. 917,670 1,726,070

3. The company had revalued its Factory Land & Building and the Plant & Machinery installed therein of its Sahibabad Unit as on 01.04.1993 as per the revaluation done by the approved valuer . The revaluation of assets had resulted in increase in the value of assets by Rs.686.79 lacs and the same was transferred to Revaluation Reserve. Consequent to the said revaluation there is an additional charge of depreciation of Rs.4.84 Lacs (Previous Year Rs. 4.84 Lacs) and an equivalent amount, has been withdrawn from Revaluation Reserve and credited to the Profit and Loss Account. This has no impact on profit for the year. The accumulated depreciation on revalued assets adjusted against the Revaluation Reserve upto 31st March 2011 is Rs.469.48 Lacs.

4. Un -Secured Loans were received by the Company in earlier years from the Promoters and their associates due to a special condition proposed by the Banker of the Company from whom financies/ secured loans have been availed for the purposes of its business. Accordingly such un-secured loans are not covered under the purview of Companies (Acceptance of Deposit) Rules,1975. Hence, the provisions of section 58-A is not applicable on such deposits.

5. Dividend of Rs. 36.00 Lacs on 18% Cumulative Redeemable Pref.Share Capital has been proposed and provided for the current year. Arrears of Preference Share dividend till 31st March,2011 is Rs.288.00 Lacs (Previous year Rs. 288.00 Lacs).

6. The Gross Sales and Cost of material as shown in the Profit & Loss A/c are net of inter-divisional transfers of Rs. 5486.24 Lacs (Rs.4660.69 lacs in previous year) as per the Accounting Standard - 9 issued by The Institute of Chartered Accountants of India. The Gross sales inclusive of inter-divisional transfers stands at Rs.15056.55 lacs (previous year-Rs.12513.07 lacs).

7. Provision for Gratuity and Leave Encashments are made by the Company at the year end on the assumption that such benefit is payable to all employees at the end of the accounting year. An incremental provision of Rs. 461,323/- towards Gratuity and Rs. 189,067/- towards Leave Encashment has been charged to the Profit & Loss account for the year under consideration.

8. In compliance of Accounting Standard 18 on “Related Party Disclosures” issued by the ICAI, details pertaining to related party transactions are as follows :

A. Names of related Parties

I. Key Management Personnel

1. Mr. Pavan Kumar Chawla - Managing Director

2. Mr. Pankaj Chawla - Whole Time Director

II. Relatives of Key Management Personnel

1. Mrs. Puneeta Chawla & Mrs. Saroj Chawla

2. Mr. Ankit Chawla

3. Mrs. Yamini Chawla

III. Associate Concerns

1. M/s Ganesh Das & Co.

2. M/s Ganesh Das & Sons (HUF)

3. M/s Suave Enterprises (P) Ltd.

4. Mr. Pavan Chawla (HUF)

5. Mr. Pankaj Chawla (HUF)

6. M/s Ganeshdas Chawla Charitable Trust (Regd.)

B. Transactions with related parties

The transactions of Purchase and Sale of goods and material entered into with the relative parties as above are made for cash/cheque at prevailing market prices.

9. The Company have various cancellable operating leases for Offices & Godowns that are renewable on annual basis and cancellable at its option. Rental expenses for operating leases recognised in Profit & Loss Account and amount within the purview of AS-19 on Leases is Rs.2790,696/-.

10. Expenditure on account of Premium on forward exchange contracts to be recognised in the Profit and Loss account of subsequent accounting period aggregates Rs. 0.59 Lacs.

11. Income due to exchange fluctation of foreign currency of Rs.42.63 Lacs for the year includes notional loss of Rs.8.78 lacs on conversion of foreign currency (as per RBI rate) on reporting date as per AS-11 issued by ICAI on the effect of changes in foreign exchange rates.

12. The Purchase of Raw Material shown in the Balance Sheet is net of sales of old empty drums and paper bags.

13. Letters of confirmation of outstanding balances are awaited in certain cases. Further, the Company has not received any intimation from any of its transacting party that they are registered under the Micro,Small & Medium Enterprises Development Act,2006. So the information required to be furnished under the MSMED Act is not applicable.

14. During the year a sum of Rs.382158/- has been incurred as Prel.Exp. towards settingup of new Unit at Malanpur for production of Textile Fabric and

15. All the figures have been rounded off to the nearest of rupee.

16. Previous year's figures have been rearranged/regrouped wherever necessary to make them comparable with current figures.

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Mar 31, 2010

1. Estimated amount of contracts remaining to be executed on capital account and not provided for Rs. NIL (Previous year - Rs. NIL)



2. Contingent liabilities not provided for in respect of : 2009-10 2008-09

a. Bank Guarantees Rs. 4,737,724 3,362,674

b. Disputed Excise Duty Matters Rs. 1,824,532 3,053,926

c. Disputed Sales/Trade Tax Matters Rs. 1,726,070 929,318

3. The company had revalued its Factory Land & Building and the Plant & Machinery installed therein of its Sahibabad Unit as on 01.04.1993 as per the revaluation done by the approved valuer . The revaluation of assets had resulted in increase in the value of assets by Rs.686.79 lacs and the same was transferred to Revaluation Reserve. Consequent to the said revaluation there is an additional charge of depreciation of Rs.4.84 Lacs (Previous Year Rs. 4.84 Lacs) and an equivalent amount, has been withdrawn from Revaluation Reserve and credited to the Profit and Loss Account. This has no impact on profit for the year. The accumulated depreciation on revalued assets adjusted against the Revaluation Reserve is Rs.464.64 Lacs.

4. Un -Secured Loans were received by the Company in earlier years from the Promoters and their associates due to a special condition proposed by the Banker of the Company from whom financies/ secured loans have been availed for the purposes of its business. Accordingly such un-secured loans are not covered under the purview of Companies (Acceptance of Deposit) Rules,1975. Hence, the provisions of section 58-A is not applicable on such deposits.

5. Dividend of Rs. 36.00 Lacs on 18% Cumulative Redeemable Pref.Share Capital has been proposed and provided for the current year. Arrears of Preference Share dividend till 31st March,2010 is Rs.288.00 Lacs (Previous year Rs. 288.00 Lacs).

6. The Gross Sales and Cost of material as shown in the Profit & Loss A/c are net of inter-divisional transfers of Rs. 4660.69 Lacs (Rs.4237.27 lacs in previous year) as per the Accounting Standard - 9 issued by The Institute of Chartered Accountants of India. The Gross sales inclusive of inter-divisional transfers stands at Rs.12513.07 lacs (previous year-Rs.11577.17 lacs).

7. Provision for Gratuity and Leave Encashments are made by the Company at the year end on the assumption that such benefit is payable to all employees at the end of the accounting year. An incremental provision of Rs. 680,715/- towards Gratuity and Rs. 117,959/- towards Leave Encashment has been charged to the Profit & Loss account for the year under consideration.

8. Primary Segment - The Company is primarily engaged in the business of PVC products, which is governed by the same set of risk and return and hence, it is not required to furnish segment wise reporting for Business Segmnent. Hence, the Geographical Segment has been presumed to the Primary Segment as per AS-17 issued by the ICAI. The analysis of geographical segment is based on the above currency risks.

The Company has common fixed assets for producing goods for domestic and International market, hence separate figure for capital employed can not be furnished.

9. In compliance of Accounting Standard 18 on "Related Party Disclosures" issued by the ICAI, details pertaining to related party transactions are as follows -

A. Names of related Parties

I. Key Management Personnel

1. Mr. Pavan Chawla - Managing Director

2. Mr. Pankaj Chawla - Whole Time Director

II. Relatives of Key Management Personnel

1. Mrs. Puneeta Chawla & Mrs. Saroj Chawla

2. Mr. Ankit Chawla

III. Associate Concerns

1. M/s Ganesh Das & Co.

2. M/s Ganesh Das & Sons (HUF)

3. M/s Suave Enterprises (P) Ltd.

4. Mr. Pavan Chawla (HUF)

5. Mr. Pankaj Chawla (HUF)

6. M/s Ganeshdas Chawla Charitable Trust (Regd.)

The transactions of Purchase and Sale of goods and material entered into with the relative parties as above are made for cash/cheque at prevailing market prices.

10. The Company have various cancellable operating leases for Offices & Godowns that are renewable on annual basis and cancellable at its option. Rental expenses for operating leases recognised in Profit & Loss Account and amount within the purview of AS-19 on Leases is Rs.2795,046/-.

12. Expenditure on account of Premium on forward exchange contracts to be recognised in the Profit and Loss account of subsequent accounting period aggregates Rs. 6.55 Lacs.

13. Income/ (Expenditure) due to fluctation of foreign currency of Rs.38.76 Lacs includes a sum of Rs.14.44 lacs as notational gain on conversion of foreign currency (as per RBI rate) on reporting date as per AS-11on the effect of changes in foreign exchange rates issued by ICAI.

14. The Purchase of Raw Material shown in the Balance Sheet is net of sales of old empty drums and paper bags.

15. Letters of confirmation of outstanding balances are awaited in certain cases. Further, the Company has not received any intimation from any of its transacting party that they are registered under the Micro,Small & Medium Enterprises Development Act,2006. So the information required to be furnished under the MSMED Act is not applicable.

16. All the figures have been rounded off to the nearest of rupee.

17. Previous years figures have been rearranged/regrouped wherever necessary to make them comparable with current figures.