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85
Annual Report 2011-12
84 Kajaria Ceramics Limited
(
`
in million)
31.03.2012
31.03.2011
Equity Share Capital
Authorised
125,000,000 (125,000,000) Equity Shares of par value of
`
2/- each
250.00
250.00
1,000,000 (1,000,000) Preference of Shares of par value of
`
100/- each
100.00
100.00
350.00
350.00
Issued, Subscribed & Paid up
73,583,580 (73,583,580) Equity Shares of par value of
`
2/- each fully paid up in cash
147.17
147.17
147.17
147.17
a) The Company has not issued any shares during the year.
b) The holders of the equity shares are entitled to receive dividends as declared from time to time, and are entitled to voting
rights proportionate to their share holding at the meetings of shareholders.
c) Following Shareholders hold equity shares more than 5% of the total equity shares of the Company at the end of the period :-
Name of Shareholder
No. of Shares % of Shareholding
Kajaria Exports Ltd.
14,703,545
19.98%
Kajaria Securities Pvt. Ltd
6,611,905
8.99%
Pearl Tile Marketing Pvt. Ltd.
5,080,240
6.90%
Cheri Ceramics Pvt. Ltd
5,058,385
6.87%
HSBC Bank ( Mauritius ) Ltd. A/c Jawalamukhi Investments Holdings
4,780,344
6.50%
Bengal Finance & Investment Pvt. Ltd
4,126,427
5.61%
d) The Company has not issued shares for a consideration other than cash or bonus shares during the immediately preceding
5 years.
NOTE
2
SHARE CAPITAL
Notes on Consolidated 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Less: Amount withdrawn from reserve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
Exchange Fluctuation Reserve
0.48
–
Surplus
As per last Balance Sheet
1,275.35
994.15
Add: Net Profit after Tax transferred from Statement of Profit & Loss
808.83
606.20
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
1,620.38
1,275.35
2,673.54
2,078.02
NOTE
3
RESERVES AND SURPLUS
Notes on Consolidated Accounts
As at 31st March 2012
(
`
in million)
31.03.2012
31.03.2011
A. TERM LOANS
- From Banks
Secured
898.41
1,002.72
- From Other Parties
Secured
18.34
13.64
916.75
1,016.36
NOTE
4
LONG TERM BORROWINGS
Notes :
1. Term loans from Financial Institutions & Banks are secured by 1st charge on immovable and movable assets (present and
future) of the Company (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 Directors 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.
The net increase during the year in the deferred tax liability
`
40.48 million (previous year increase
`
52.62 million) has been
debited to the Statement of Profit & Loss.
As At 1st April 2011
603.20
550.59
Add : Additional adjustment for current year
40.48
52.62
643.68
603.20
NOTE
5
DEFERRED TAX LIABILITIES
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. 34 for detailed disclosure as per AS 15.
NOTE
6
LONG TERM PROVISIONS
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 Directors
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
1,106.24
1,026.83
Short Term Loans & Advances
- From Companies
37.04
40.00
Total
1,143.28
1,066.83
NOTE
7
SHORT-TERM BORROWINGS
Trade Payables - Micro, Small & Medium Enterprises
323.76
230.74
- Others
1,452.04
1,475.22
1,775.80
1,705.96
NOTE
8
TRADE PAYABLES