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91
Annual Report 2011-12
90 Kajaria Ceramics Limited
Notes on Accounts
For the year ended 31st March 2012
(
`
in million)
31.03.2012
31.03.2011
Other Manufacturing Expenses
Stores and Spares Consumed
297.72
149.73
Power and Fuel
2,106.80
936.77
Finished Goods used for Fixed Assets
–
(1.40)
Excise Duty on Stocks
43.83
(21.56)
2,448.35
1,063.55
Repairs & maintenance
- Building
18.81
11.78
- Machinery
45.30
21.80
- Others
23.32
22.91
87.43
56.49
Administrative Expenses
Printing , Stationery & EDP Expenses
9.67
7.66
Rent, Rates & Taxes
102.81
93.23
Vehicle Expenses
18.76
14.47
Communication Expenses
38.17
37.09
Traveling & Conveyance Expenses
145.76
113.82
Insurance Charges
13.39
10.80
Legal & Professional Charges
15.62
9.35
Directors Sitting Fees
0.80
0.92
Auditors' Remuneration :
- As Audit Fees
1.20
1.00
- For Tax Audit, Certification & Tax Representations
0.69
1.14
- For Other matters
0.80
0.73
Miscellaneous Expenses
43.02
32.30
Share Transfer Expenses
0.18
0.18
Electricity & Water Charges
15.29
13.46
Foreign Technician Expenses
3.66
0.15
Bank Charges
1.92
2.65
411.74
338.94
Selling & Distribution Expenses
Packing, Freight & Forwarding Expenses
142.07
114.64
Advertisement, Publicity & Sales Promotion
219.00
163.12
Commission
128.25
152.83
489.32
430.59
Others
Loss on Sale / Scrapping of Fixed Assets
14.91
15.98
Social Relief & Welfare Expenses
0.32
3.58
Bad Debts Written Off
5.50
–
Provision for doubtful debts
0.80
–
Research & Development Expenses
29.75
0.43
51.28
19.99
3,488.12
1,909.55
NOTE
27
OTHER EXPENSES
Notes on Consolidated Accounts
OTHER NOTES ON ACCOUNTS
31.
As per policy of the Company for Directors and other senior employees the Company has, during the year, paid a sum of
`
50 lacs on account of insurance premium under the employer employee policy obtained on the life of key directors and
the same lies debited under the head ‘Insurance Charges’. The policy may be assigned in the name of the insured in future.
In such an event of assignment of the policy, the same shall be treated as perquisite in the hands of the key personnel.
32.
Balances of certain debtors, creditors, loans and advances are subject to confirmation.
33.
In the opinion of the Management current assets, loans and advances have a value on realisation in the ordinary course
of business at least equal to the amount at which they are stated except where indicated otherwise.
34. Gratuity And Other Post-Employment Benefit Plans:
The Company has a defined benefit gratuity plan. Gratuity (being administered by a Trust) is computed as 15 days salary,
for every completed year of service or part thereof in excess of 6 months and is payable on retirement / termination /
resignation. The benefit vests on the employee completing 5 years of service. The Gratuity plan for the Company is a
defined benefit scheme where annual contributions are deposited to a Gratuity Trust Fund established to provide gratuity
benefits. The Trust Fund has taken a Scheme of Insurance, whereby these contributions are transferred to the insurer. The
Company makes provision of such gratuity asset/liability in the books of accounts on the basis of actuarial valuation as
per the Projected unit credit method. Plan assets also include investments and bank balances used to deposit premiums
until due to the insurance Company.
(
`
in million)
28. Contingent Liabilities
As at
As at
31.03.2012
31.03.2011
28. Contingent Liabilities
(excluding matters separately dealt with in other notes):
a) In respect of Bills discounted with the Company’s Bankers
21.13
34.23
b) Counter guarantees issued in respect of guarantees issued
by company’s bankers
0.50
8.76
c) Guarantees issued on behalf of limited companies
90.00
50.00
d) In respect of Excise Duty, Sales Tax, Service Tax, Custom Duty
Demands pending before various authorities and in dispute
71.28
66.92
e) In respect of disputed Electricity Demand pending with
appellate authorities and other consumer cases.
16.67
4.68
29. Commitments
As at
As at
31.03.2012
31.03.2011
a.
Estimated amount of contracts remaining to be executed on
Capital Account and not provided for (Net of advances)
10.18
3.96
b.
Letters of Credit opened in favour of inland/overseas suppliers (Net)
1,303.13
1,623.52
30. Particulars of Sales & Stocks
Year ended
Year ended
31.03.2012
31.03.2011
a) Opening Stock
Tiles
1,007.64
1,058.54
b) Purchases
Tiles
3,620.53
3,759.34
c) Sales
Tiles (Manufactured)
8,850.42
5,445.31
Tiles (Trading)
5,221.80
4,603.10
Power
14.87
12.25
d) Closing Stock
Tiles
1,202.00
1,007.64