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67
Annual Report 2011-12
66 Kajaria Ceramics Limited
Notes on Accounts
As at 31st March 2012
Notes on Accounts
As at 31st March 2012
(
`
in million)
31.03.2012
31.03.2011
Securities Premium Account
As per last Balance Sheet
142.35
142.35
General Reserve
Balance b/f
610.33
513.69
Less: Amount withdrawn from reserve
–
(103.37)
Add : Transferred during the year
250.00
200.00
860.33
610.32
Capital Redemption Reserve
As per last Balance Sheet
50.00
50.00
Surplus
As per last Balance Sheet
1,275.77
994.15
Add: Net Profit after Tax transferred from Statement of Profit & Loss
807.15
606.62
Less : Proposed Dividend on Equity Shares
183.96
147.17
Less : Corporate Dividend Tax
29.84
23.87
Less : Transfer to General Reserve
250.00
200.00
Add : Transfer from Debenture Redemption Reserve
–
46.04
1,619.12
1,275.77
2,671.80
2,078.44
The net increase during the year in the deferred tax liability
`
34.37 million (previous year increase
`
53.39 million) has been
debited to the statement of Profit & Loss.
NOTE
3
RESERVES AND SURPLUS
(
`
in million)
31.03.2012
31.03.2011
Provision for Gratuity Obligation
As per last Balance Sheet
42.16
35.54
Additions during the year
20.08
6.62
Total
62.24
42.16
Refer Note No. 40 for detailed disclosure as per AS 15.
NOTE
6
LONG TERM PROVISIONS
Notes :
1. Term loans from Financial Institutions & Banks are secured by 1st charge on immovable and movable assets (present and
future) of the Company situated at Sikandrabad Industrial Area (U P) and village Gailpur (Rajasthan) (subject to prior charges
on movables in favour of Banks) ranking pari-passu with the charges created in favour of participating Financial Institutions
and Banks and further guaranteed by the Managing Director of the Company.
2. Loan from others parties are secured against respective assets financed.
3. There has been no continuing default on the Balance Sheet date in repayment of loan and interest.
4. The term loans are repayable generally over a period of three to five years after a moratarium period of one to two years
in installments as per the terms of the respective agreements.
A. TERM LOANS
- From Banks
Secured
700.99
946.28
- From Other Parties
Secured
8.99
13.64
709.98
959.92
NOTE
4
LONG-TERM BORROWINGS
Working Capital Facilities from Banks are secured by 1st charge on inventories and book debts and second charge on
immovable and movable assets of the Company ranking pari passu amongst the Banks and further guaranteed by the Managing
Director of the Company.
There has been no defaults in repayment of any of the loans or interest thereon as at the end of the year.
LOANS REPAYABLE ON DEMAND
Working Capital Facilities
- From Banks
Secured
1,038.00
1,000.38
Short Term Loans & Advances
- From Companies
–
40.00
Total
1,038.00
1,040.38
NOTE
7
SHORT-TERM BORROWINGS
Current maturities of long term debts
669.26
796.49
Interest accrued but not due on borrowings
–
0.47
Unpaid Dividends
4.65
3.17
Provision for expenses
461.52
211.87
Deposits Received
50.78
39.61
Statutory Dues Payable
177.70
120.65
Total
1,363.91
1,172.26
NOTE
9
OTHER CURRENT LIABILITIES
Provision for employee benefits
Unavailed leave
44.82
39.97
Others
Proposed Dividend
183.96
147.17
Provision for
Income Taxes *
29.55
33.22
Tax on dividend
29.84
23.87
Total
288.17
244.23
* Net of Income Tax Advances
`
290.45 million (previous year
`
185.18 million)
NOTE
10
SHORT TERM PROVISIONS
As at 1st April 2011
601.91
548.52
Add : Additional adjustment for current year
34.37
53.39
636.28
601.91
NOTE
5
DEFERRED TAX LIABILITIES
Trade Payables - Micro, Small & Medium Enterprises
323.76
230.74
- Others
1,354.36
1,441.25
1,678.12
1,671.99
NOTE
8
TRADE PAYABLES