Description
To take on high growth track by establishing a strong and a supportive link in the total supply chain management of our associates.
Annual Repor t 2012- 2013
AMD Industries Limited
OURVISION
FINANCIAL INDICATORS FOR PAST 5 YEARS
To take on high growth track by establishing a strong and a supportive link in the total supply chain management of our
associates.
We at AMD are committed to control and improve quality, cost and delivery performance through continual improvement of
the quality management. We shall increase our market share year after year through improving customer satisfaction.
QUALITYPOLICY
TOTAL INCOME 15826.37 18269.84 14051 11691.08 9345.02
PBDIT 1838.22 2872.88 2537.6 2451.63 1972.48
PBT 226.15 1036.88 769.28 1080.13 696.88
Provision for taxation
Current 117.05 330 180 285.43 178.34
Deferred -31.65 24.03 19.7 161.45 179.18
PAT 159.03 650.32 577.32 654.39 339.35
Cash Profit^ 986.93 1412.85 1300.26 1215.6 820.75
Fixed Assets
Gross Block including Capital WIP 13793.77 12829.16 12741.94 12044.35 8960.78
Net Block 8692.73 8548.77 9186.14 9206.32 6663.11
Equity Share Capital 1916.67 1916.67 1916.67 1916.67 1916.67
Reverses & Surplus 9630.1 9671.55 9243.99 8890.91 8460.77
Networth 11546.77 11588.22 11160.66 10807.58 10377.45
EPS (Rs.) (Annualized) 0.83 3.39 3.01 3.41 1.77
Cash EPS (Rs.) (Annualized) 5.15 7.37 6.78 6.34 4.28
Book Value per share (Rs) 60.24 60.46 58.23 56.39 54.14
^Net of Deferred Tax Liability
PARTICULARS YEAR ENDED 31ST MARCH
2013 2012 2011 2010 2009
(RS. IN LACS)
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AMD Industries Limited AMD Industries Limited
BOARD OF DIRECTORS
Mr. H.S. Gupta
Chairman
Mr. Ashok Gupta
Managing Director
Mr. Adit Gupta
Joint Managing Director
Mr. Mahipal Ahluwalia
Independent Director
Mr. Seshadri Ratnam
Independent Director
Mr. Prabhat Krishna
Independent Director
COMPANY SECRETARY & COMPLIANCE OFFICER
Mr. Joylin Jain (Till 18
th
July 2013)
REGISTERED OFFICE
18, Pusa Road, 1
st
Floor, Karol Bagh, New Delhi-110 005
Tel.: 91-11-46830202
Fax : 91-11-28753591 Email : [email protected]
Url : www.amdindustries.com
MANUFACTURING UNITS
1) C-4&C-5, Site 3, Meerut Road, Indl. Area,
Ghaziabad, Uttar Pradesh
2) SP-32, RIICO Ind. Area, Neemrana,
Rajasthan
SUBSIDIARY COMPANIES
1) AMD Estates & Developers Pvt. Ltd.
2) Prime Techno Build Pvt. Ltd.
BANKERS
1) State Bank of India
2) Punjab National Bank
3) Union Bank of India
4) Kotak Mahindra Bank
5) Central Bank of India
STATUTORY AUDITORS
Suresh & Associates,
Chartered Accountants,
3A, Bigjos Tower, Netaji Subhash Place,
Pitam Pura, Delhi - 110 034
INTERNAL AUDITORS
B.L. Khandelwal & Co.
Chartered Accountants
1, Doctor’s Lane, Gole Market
New Delhi-110 001
LEGAL COUNSELS
Mr. Dinesh Kumar Gupta, Advocate
C-58, Vivek Vihar, Phase - I
New Delhi - 110095
SECRETARIAL AUDITORS
M/s AGG & Associates
Company Secretaries
21/16, 2
nd
Floor, West Patel Nagar
New Delhi - 110008
REGISTRAR & SHARE TRANSFER AGENTS
Bighshare Services Pvt. Ltd.
Head Offce
E-2/3, Ansa Industrial Estate,
Saki Vihar Road, Saki Naka, Mumbai - 400 072
Tel. : +91-22-28470652 Fax: +91-22-28525207
Branch Offce (Delhi)
4-E/8, First Floor, Jhandewalan Ext., New Delhi-110055
Tel. : 011-2352237
CORPORATE INFORMATION
AMD Industries Limited Page No.
Directors’ Report 1
Report on Corporate Governance 4
Auditors’ Certifcate on Corporate Governance 9
Secretarial Audit Report 9
Auditors’ Report 10
Balance Sheet 12
Proft & Loss Account 13
Cash Flow Statement 34
AMD Industries Limited (Consolidated)
Auditors’ Report 36
Balance Sheet 37
Proft & Loss Account 38
Cash Flow Statement 59
Proxy Form
CONTENTS
AMD Industries Limited AMD Industries Limited
1 30th Annual Report 2012-2013
DIRECTORS’ REPORT
Dear Shareholders,
Your Directors are pleased to present the 30
th
Annual Report together with
audited accounts for the fnancial year ended 31
st
March 2013.
Financial Results
The fnancial performance of the Company for the fnancial year ended 31
st
March, 2013 is summarized below:
OPERATIONS REVIEW
(Rs. in Lacs)
Particulars Financial Year
2012-13
Financial Year
2011-12
Net Sales/Income from Operation
(net of excise duty)
15374.15 17643.14
Other Operating Income 320.22 557.63
Other Income 132.00 69.07
Total 15826.37 18269.84
Proft from operations before Financial
Costs, Depreciation, Exceptional Items &
Tax Expenses
2064.29 2631.44
Financial Costs 1010.32 1073.46
Proft before Depreciation, Exceptional
Item & Taxation
1053.97 1557.99
Depreciation 827.90 762.53
Proft before Exceptional Items and Tax
Expenses
226.07 795.45
Exceptional Items .09 241.43
Proft before Tax 226.16 1036.89
Less: Tax Expenses 67.13 386.57
Net Proft for the year / Amount
available for Appropriation
159.03 650.32
Appropriations:
General Reserve Nil Nil
Dividend on Equity Shares 172.50 191.67
Tax on Dividend 27.98 31.09
Balance Carried to Balance Sheet -41.45 427.56
TOTAL 159.03 650.32
Packaging Business:
During the year under review your Company registered a total turnover and other
income of Rs. 15826.37 Lacs as compared to previous year’s turnover and other
income of Rs. 18269.84 Lacs a decline of 13.37% over the previous year. The
Company registered a Proft before Financial Costs, Depreciation & Taxation of
Rs. 2067.49 Lacs (excluding income from exceptional items) as compared to Rs.
2631.44 Lacs (excluding income from exceptional items) recording a decline of
21.43% (approx.), whereas Net Proft at Rs. 162.23 Lacs as compared to Rs.
650.32 Lacs the previous year, which shows a decrease of 81.28% (approx.).
The decline in profts is due to rise in production costs, mainly rise in power and
fuel costs, further the conversion rate also did not match with the such hike. The
decline in the sales has effected due to sharp decline in export, which in turn has
eroded heavily the profts of the year. This decline is mainly in the export of Crown
Caps from 94062.49 cases is 2011-12 to 22083.32 cases in 2012-13.
Textile Business:
The market scenario for the textile industry in the country as a whole remained
continuously discouraging. The Company remained on the same policy of
putting on hold the Textile project.
Real Estate Business:
The real estate market of the country has been showing stagnant growth.
Development of Commercial Complex on the land of Company’s subsidiary
AMD Estates & Developers Private Limited situated at Sector-114, Gurgaon,
Haryana has been started, in which Company also holds interest, which is being
carried out by VSR Infratech Private Limited, New Delhi under the Collaboration
Agreement for the said development.
DIVIDEND
Despite of fact of Company’s inadequate profts for the fnancial year 2012-13, as
a policy of the Company, your Directors are pleased to recommend a dividend of
Re. 0.90 (Ninety Paise Only) per equity share of face value of Rs. 10/- each for
the fnancial year 2012-13, which shall be paid out of reserves of the Company
created out of profts of the previous years in accordance with the provisions
of the Companies (Declaration of Dividend out of Reserves) Rules, 1975. The
dividend, if approved and declared at the ensuing Annual General Meeting will be
paid to those shareholders whose name shall appear on the register of members
of the Company as on the date of Book Closure to be notifed.
FIXED DEPOSITS
During the fnancial year 2012-13, your Company has not invited or accepted
any deposits from the public within the meaning of provisions of Section 58A of
the Companies Act, 1956.
MANAGEMENT DISCUSSION AND ANALYSIS
Your Company has put in efforts and strengthened its place in terms of Country’s
share for providing packaging range to the soft drinks and other beverages
industry. Company’s plants at both the places, i.e. at Ghaziabad, Uttar Pradesh
and Neemrana, Rajasthan, are in operations.
Your Company continued catering to the packaging needs of Beverages Industry
of the country by way of supplying packaging for carbonated soft drinks (CSD),
mineral waters, beer etc. Major chunk of Company’s supply remained to beverages
Industry which is growing at about 18% per annum and alcoholic beverages
industry mainly beer which is growing at a rate of about 10% per annum. The
Company is looking to new market segments such as fruit juices, milk products,
edible oil etc. and other cosmetics items which is slowly moving to packaging
items remained the same and your Company is capable of manufacturing of
those packaging. Your Company therefore, expects development of new market
segments in the years to come and making continuous efforts in that direction.
Due to adverse market scenario of Textile Industry in India, the project
undertaken by the Company for setting up of integrated Textile Unit at Distt.
Haridwar, Uttarakhand has continued to be kept on hold for the time being.
The real estate sector has been showing stagnant growth for some time now. The
development of commercial complex at the land of Company’s subsidiary AMD
Estates & Developers Private Limited situated at Sector 114, Gurgaon, Haryana
for which the said subsidiary had entered into a collaboration agreement with
VSR Infratech Private Limited, has been started and is progressing slowly in
which Company holds interest.
INDUSTRY SECTORS
PACKAGING
The packaging industry supplying packing solutions to beverages industry are
mainly divided into two formats viz., PET Bottles and Glass Bottles.
PET Bottles are also divided into two segments such as Plastic Closures and PET
Preforms. Plastic Closures are mainly used in CSD PET Bottles for beverages,
mineral water and juices. The requirements of closures with respect to design
and quality depend upon the need of the end-user. PET Bottles required by the
Beverages Industry are being manufactured & supplied by the Packaging Industry
in Preform shapes and being blown-up at the time of flling beverages. Various
other end-users have also started using plastic bottles as packaging medium.
The usage of PET Bottles shows an increasing trend in products like edible oil,
personal care products, pharmaceuticals and confectioneries. The usage of PET
Bottles in Alcoholic Beverages Industry is also on the rise.
Glass bottles used as a packaging item requires crown caps as closure.
Your Company manufactures Crown Caps which are mainly used as metallic
closures for various edible items packed in glass bottles e.g. Carbonated Soft
Drinks, Beer, Juices, Sauces, Ready-to-drink Milk products etc.
REAL ESTATE
The Real Estate market is mainly divided into two zone one is the residential and
the other is commercial. Your company possesses interest in Commercial land.
OUTLOOK
PACKAGING
The Overall Beverage Packaging Industry is growing at over 12% per annum.
The continued trend of shifting customer base from glass bottles to PET Bottles
is being seen in a positive note.
Segment Wise/ Product Wise Review
CROWNS CAPS
The use of glass bottles has been seen steady or little bit de-growth whereby
the use of Returnable Glass Bottle (RCB) has been seen in reducing trends.
Due to which crown market has been recording a sharp negative growth as a
packaging item. In order to offset this, your Company is making vigorous efforts
to explore the export market. Though the export has declined sharply in this
year, the efforts are being continued to increase the share of exports by fnding
new markets abroad.
However, AMD remained one of the dominant players in the crown caps market
having approx. 15% market share during the year under review. The Company
expects the increase in sales in domestic market in year to come.
AMD Industries Limited AMD Industries Limited
2 30th Annual Report 2012-2013
PLASTIC CLOSURES
The plastic closure market has been continuously getting its momentum due
to increased usage of PET Bottles. The organized market is still dominated by
the CSD but it is expected that other usage will also form signifcant share of
the over all market.
The demand of plastic closures will increase in segments where PET Bottles
are gaining foothold as packaging media like water, juices, edible oil etc.
PET PREFORMS
With the expansion of putting up of one line of Preform at works at Neemrana,
Rajasthan the Company’s market share in PET Preform market has also
increased and after its successful start, the Company has planned to install
6
th
PET Preform line at its same works and expect to install the same by the
mid of June, 2013 which will further strengthen the production, but due to
having seasonal nature of the business the growth will be refected in 2014. It
will further increase the productions capacity of the Company. The packaging
Industry in PET segment has been growing by over 15-20%.
Risk and Concerns
PACKAGING
Increase in raw material cost and pressure on margins have a bearing on the
proftability of packaging industry in totality. The Company is likely to be affected
by change in governmental policies related to usage of end products.
However, the Company has established itself as quality supplier to its clients
and is accepted as reliable player in the industry thereby not only retaining its
base but increasing it as well.
Adequacy of Internal Control Systems
The Company has adequate internal control system commensurate with the
size of the company. The Company has appointed M/s B.L. Khandelwal & Co.,
Chartered Accountants, New Delhi, as the Internal Auditor of the Company to
carry out the internal audit of the activities of all the divisions of the Company at
regular intervals. Their audit reports along with action taken reports thereon are
reviewed by the Audit Committee of Directors.
Material Development in Terms of Human Resources
Human Resources are considered to be a form of capital and wealth of the
Company. It has been the focus of the management to improve and expand
the contribution of its human resources towards attainment of organizational
goals and values. The growth of the Company and improvement in the systems
has been sustained by the active involvement of the employees with the
Management. The technical expertise of the Management has been shared with
the employees at the works, which keeps them motivated to meet and surpass
the set targets.
Cautionary Statement
Statement in the Management Discussion & Analysis, describing the Company’s
objectives, projections and estimates are forward looking statements and
progressive within the meaning of applicable laws and regulations.
Actual results may vary from those expressed or implied, depending upon the
economic conditions, Government policies and other incidental factors.
DIRECTORS
Mr. Harswarup Gupta, Executive Chairman (WTD) of the Company retires
by rotation and being eligible offers himself for re-appointment at the ensuing
Annual General Meeting.
Mr. Seshadri Ratnam, Independent Director of the Company retires by rotation
and being eligible offers himself for re-appointment at the ensuing Annual
General Meeting.
DIRECTORS’ RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217 (2AA) of the Companies Act,
1956, with respect to Directors Responsibility Statement, it is hereby confrmed:
A. that in the preparation of Annual Accounts for the fnancial year 2012-
13, the applicable Accounting Standards have been followed along with
proper explanations relating to material departures, if any;
B. that the directors have selected such accounting policies and applied them
consistently and made judgments & estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of the Company
as at 31
st
March, 2013 and of the proft or loss of the Company for that period;
C. that the directors had taken proper & suffcient care for the maintenance
of adequate accounting records in accordance with the provisions of The
Companies Act, 1956, for safeguarding the assets of the Company and for
preventing & detecting the fraud and other irregularities;
D. that the directors had prepared the Annual Accounts for the fnancial year
2012-13 on a “going concern basis”.
CORPORATE GOVERNANCE REPORT
Your Company reaffrms its commitment to the good corporate governance
practices. A detailed report on the Corporate Governance as required
pursuant to Clause 49 of the Listing Agreement forms part of the Annual
Report. Certifcate from the Auditors of the Company, confrming compliance
of conditions of Corporate Governance as stipulated under the Clause 49, is
annexed to this Report.
AUDITORS
The Statutory Auditors of the Company M/s. Suresh & Associates, Chartered
Accountants, New Delhi retire at the ensuing Annual General Meeting and have
confrmed their eligibility and willingness to accept offce of Statutory Auditors of
the Company, if reappointed. The Audit Committee and the Board of Directors
recommend to the shareholders for their approval the appointment of M/s.
Suresh & Associates, Chartered Accountants, as the Statutory Auditors of the
Company for the fnancial year 2012-13.
AUDIT OF COST ACCOUNTING RECORDS
Pursuant to the Order No. F No, 5/26/CAB-2010 dated 24
th
January, 2012 of
Ministry of Corporate Affairs, GOI, which made it mandatory for the Company to get
its Cost Accounting Records audited, for each fnancial year w.e.f. 01
st
April, 2012,
by a Cost Accountant holding valid certifcate of practice as such, the Company has
appointed M/s Aggrawal Ashwani K. & Associates, Cost Accountants, New Delhi for
carrying out the audit of cost accounting records of the Company for F.Y. 2012-13.
The Cost Auditors are required to submit their report with the Central Government
within 180 days from the end of respective fnancial year with a copy of the same to
be provided to the Company. For the F.Y. 2012-13 the Cost Audit Report fling due
date is 30
th
September, 2013. Since the said fnancial year is the frst year for the
audit of the Cost Accounting Records of the Company and submission of the Cost
Report by the Cost Auditor, the report for the same yet to be fled.
SUBSIDIARY COMPANIES:
The Ministry of Company Affairs, Government of India vide its Circular No.
5/12/2007-CL-III dated 8
th
February, 2011 has granted general exemption under
Section 212(8) of the Companies Act, 1956, from attaching the balance sheet,
proft and loss account and other documents of the subsidiary companies to the
balance sheet of the Company, as required under section 212, subject to the
fulfllment of certain conditions by the Company. Further as required under the
said Circular, the Company undertakes that the annual accounts of its subsidiary
companies and the related detailed information shall be made available to the
shareholders of the holding and subsidiary companies seeking such information
at any point of time. The annual accounts of the subsidiary companies shall also
be kept for inspection by any shareholders in the Head Offce of the Company
at Delhi and of subsidiary companies concerned.
As required in the above said Circular and the current listing norms, Consolidated
Financial Statements of the Company and its subsidiaries are being published
in the current year’s Annual Report.
DE-SUBSIDIARISATION OF AMD ESTATES & DEVELOPERS PVT LIMITED:
The real estates sector has been showing stagnant growth for some time. The
Directors has decided to unlock the funds so invested in the equity shares of
its subsidiary AMD Estates & Developers Pvt. Ltd. by sell off of the same. The
funds so unlocked would be utilized in easing out the funds liquidity problem of
the Company and partially in retiring company’s debt which in turn will reduce
to some extent the fnancial costs of the Company thereby increase profts or
for such other purposes as the directors may decide in the best interest of the
Company and its shareholders.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION & FOREIGN
EXCHANGE
A. Conservation of Energy
Energy conservation, wherever possible, is being implemented. However,
continuous efforts to conserve and optimize the use of energy through
improved operational methods and other means have always been the
endeavour of the Company to implement.
B. Technology Absorption
The Company believes that technological obsolescence is practical
reality. Our research and development activities will help us gear for future
opportunities. We invest and encourage continuous innovation.
C. Foreign Exchange Earning & Outgo
Company has been continuously making efforts to increase its export.
During the year under consideration, the Company has used Foreign
Exchange equivalent to Rs.3926.18 Lacs (previous year Rs 4842.84
Lacs) and earned Foreign Exchange equivalent to Rs. 1284.27 Lacs
(previous year Rs. 3494.40 Lacs).
PARTICULARS OF EMPLOYEES
A list of the employees of the Company who were in receipt of the such remuneration
during the fnancial year 2012-13 which requires to be disclosed in this report under
Section 217 (2A) of the Companies Act, 1956 read with Companies (Particulars of
Employees) Rules, 1975 as amended upto date is annexed herewith as Annexure-I.
ACKNOWLEDGEMENT
Your Directors take this opportunity to express their sincere appreciation of the
cooperation and support extended by the Shareholders, Bankers, Financial
Institutions, Government Departments, Regulatory Bodies, Customers and
other Business Constituents during the year under review.
Your Directors wish to place on record their appreciation for the committed
services of the executives, staff and workers of the Company.
On behalf of the Board of Directors
Place: New Delhi Harswarup Gupta
Date: 28
th
May, 2013 Chairman
AMD Industries Limited AMD Industries Limited
3 30th Annual Report 2012-2013
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AMD Industries Limited AMD Industries Limited
4 30th Annual Report 2012-2013
Report on Corporate Governance
Pursuant to Clause 49 of the Listing Agreement, Report on Corporate Governance is attached and forms part of the Directors Report.
1. Company’s Philosophy on Code of Corporate Governance
Corporate Governance is an integral part of values, ethics and best business practices followed by the Company. It envisages attainment of highest levels of
transparency, accountability and equity in all facets of its operations and in all its interactions with its stakeholders, including shareholders, employees, lenders
and the Government. The core values of the Company are:
• Commitment to excellence and customer satisfaction.
• Maximizing long term shareholders worth.
• Socially valued enterprise and
• Caring for people and environment.
2. Board of Directors
The Board of Directors of the Company comprised of six Directors out of which there are three Promoter Directors and three Independent Directors. Composition
of the Board and category of Directors are as follows:
I Composition of the Board
S.No. Name of Director Designation Category
1. Mr. Harswarup Gupta Chairman Executive Director
2. Mr. Ashok Gupta Managing Director Executive Director
3. Mr. Adit Gupta Jt. Managing Director Executive Director
4. Mr. Mahipal Ahluwalia Independent Director Non-Executive Director
5. Mr. Seshadri Ratnam Independent Director Non-Executive Director
6. Mr. Prabhat Krishna Independent Director Non-Executive Director
II Attendance of Directors at Board Meetings, last Annual General Meeting and number of other Directorships and Chairmanships/Memberships
of Committees of each Director in various companies
Name of Director Attendance of meetings during
2012-13
Number of other Directorships in
other Public Companies as on
31.3.2013
Number of Memberships/
Chairmanships of Committees of
other Companies
Board Meetings Last AGM No
Mr. Harswarup Gupta 2 Yes 1 Nil
Mr. Ashok Gupta 4 Yes 1 Nil
Mr. Adit Gupta 3 Yes 1 Nil
Mr. Mahipal Ahluwalia 4 No 0 Nil
Mr. Seshadri Ratnam 2 No 0 Nil
Mr. Prabhat Krishna 4 Yes 1 01
III Details of the meetings of the Board of Directors of the Company held during 2012-13.
S.No. Date of Board Meeting Total Strength of Board No. of Directors Present at the Meeting
1. 23-05-2012 6 5
2. 07-08-2012 6 5
3. 01-11-2012 6 4
4. 14-02-2013 6 5
IV. Code of Conduct
The “Code of Conduct” is already circulated and posted on the Company’s website. The persons concerned have given their declarations for compliance
with the code for the fnancial year ended 31
st
March, 2013.
3. Audit Committee
Pursuant to terms of reference as prescribed under Clause 49 and Section 292A of the Companies Act, 1956, the Audit Committee of the Company has been
duly constituted. The terms of reference, inter alia, include the Company’s fnancial reporting process, disclosures of all the information to ensure that the
fnancial statements are correct, suffcient and credible, reviewing annual and quarterly statement before submission to the Board and reviewing the adequacy
of internal control systems with the management, the external and the internal Auditor.
The Audit committee reviews with management and also with the statutory and internal auditors, all aspects of the fnancial results, effectiveness of internal
audit / processes, taxation matters and other key areas. The audit committee also recommends the appointments and remuneration of the internal auditors,
statutory auditors and cost auditor to the Board considering independence and effectiveness.
I. Composition of Audit Committee
S.No. Name of Member Designation in Committee Designation in Company
1. Mr. Prabhat Krishna Chairman Independent director
2. Mr. Mahipal Ahluwalia Member Independent director
3. Mr. Adit Gupta Member Jt. Managing Director
4. Mr. S. Ratnam Member Independent Director
AMD Industries Limited AMD Industries Limited
5 30th Annual Report 2012-2013
II Details of Audit Committee meetings
S.No. Date of the Meeting Total Strength of the Committee No. of Members present
1. 23-05-2012 4 4
3. 07-08-2012 4 4
3. 01-11-2012 4 2
4. 14-02-2013 4 3
4. Remuneration Committee:
I. Terms of reference of the Remuneration Committee
1. The committee shall consider, discuss and recommend to the Board of Directors the remuneration payable to Directors of the Company.
2. The Committee shall have a power to review the remuneration payable to Directors of the Company as and when considered necessary in line with
fnancial health of the Company vis-à-vis contribution made by them.
3. To perform or dispose of such other acts or obligations as may be referred or directed to it by the Board of Director of the Company.
II. Details of Composition of Remuneration Committee
S. No Name of Member Designation in Committee Designation in Company
1 Mr. S. Ratnam Chairman Independent Director
2 Mr. M. P. Ahluwalia Member Independent Director
3 Mr. Prabhat Krishna Member Independent Director
III. Details of Remuneration Committee meetings
S.No. Date of the Meeting Total Strength of the Committee No. of Members present
1. 23-05-2012 4 4
IV. Remuneration Policy
The remuneration policy of the Company subject to Section 198, 310 and the provisions of Schedule XIII of the Companies Act, 1956, is based on the
rewarding criteria where by each of the Director’s remuneration is determined according to its performance and contribution in the growth and fnancial
performance of the Company. The present industrial trends and precedence are also considered while determining the Remuneration.
V. Following are the details of remuneration payable
Remuneration paid to Managing / Executive / Wholetime Director of the Company are being paid as per terms of their appointments, the detail of
remuneration payable is stated herein below:
S.No. Name Designation Salaries &
Allowance
Other Benefts Commission Total
1. Mr. Harswarup Gupta Chairman 45,65,000 3,52,545 24,00,409 73,17,954
2. Mr. Ashok Gupta Managing Director 46,20,000 4,95,166 24,00,409 75,15,575
3. Mr. Adit Gupta Joint Managing Director 41,50,000 2,98,425 24,00,409 68,48,834
The Independent Directors are being paid a sitting fee of Rs. 20,000/- for attending each Board and Committee Meetings thereof. Sitting fees paid to the
Independent Directors during the fnancial year 2012-13 is detailed below:
S.No. Name of the Independent Director Sitting fees paid
(Rs. In Lacs)
1. Mr. M.P. Ahluwalia 0.75
2. Mr. S. Ratnam 0.35
3. Mr. Prabhat Krishna 0.75
5. Shareholders / Investors Grievances Committee
I. Details of Composition of Shareholders / Investors Grievance Committee
S. No Name of Member Designation in Committee Designation in Company
1 Mr. M. P. Ahluwalia Chairman Independent Director
2 Mr. Ashok Gupta Member Managing Director
3. Mr. Seshadri Ratnam Member Independent Director
3 Mr. Prabhat Krishna Member Independent Director
II. The name of Compliance Offcer:
Sh. Joylin Jain, Company Secretary of the Company is the Compliance Offcer.
III. Number of Shareholders complaints received during the fnancial year 2012-13.
Category Complaints Received Numbers of
Complaints Resolved
Complaints Pending
Non receipt of Annual Report 0 0 NIL
Non Receipt of Bonus Shares 1 1 NIL
Non receipt of Dividend Warrant 7 7 NIL
Total 8 8 NIL
AMD Industries Limited AMD Industries Limited
6 30th Annual Report 2012-2013
6. Management Committee
For transactions of routine business nature requiring the approval of the Board, the Board of Directors constituted a Committee under nomenclature , “Management
Committee” to have speedy approval system. The following members of the Board have been nominated as the Chairman/ Member of the said Committee.
1. Mr. Harswarup Gupta Chairman
2. Mr. Ashok Gupta Member
3. Mr. Adit Gupta Member
The Committee shall meet as and when some business of routine nature is required to be approved. Mr. Joylin Jain shall act as Secretary to the Committee.
7. General Body Meetings
I. Details of last three Annual General Meetings
Date of Meeting Place Time Details of Special Resolution Passed therein
24-09-2010 Daffodils Hotels, Tania Farms Complex,
Chatterpur Mandir Road, Satbari Village, New
Delhi- 30
10.30 AM Nil
23-09-2011 Daffodils Hotels, Tania Farms Complex,
Chatterpur Mandir Road, Satbari Village, New
Delhi- 30
10.30 AM 1. Re-appointment of Mr. Ashok Gupta, Managing Director of the
Company for a further period of 3 years
2. Re-appointment of Mr. Harswarup Gupta, Executive Chairman
of the Company for a further period of 3 years
3. Re-appointment of Mr. Adit Gupta as Jt. Managing Director of
the Company for a further period of 3 years
4. Revision in remuneration of Ms. Vidhi Gupta, Manager-
Business Development
5. Appointment of Ms. Mamta Gupta as Manager – Business
Development u/s 314(1) of the Act.
28-09-2012 Daffodils Hotels, Tania Farms Complex,
Chatterpur Mandir Road, Satbari Village, New
Delhi- 30
10.30 AM 1. Appointment & Re- designation of Mr. Adit Gupta as Joint
Managing Director of the Company.
II. Postal Ballot
The Company did not pass any special resolution through postal ballot in the fnancial year 2012-13.
8. Disclosures
a. Related party transactions have been suitably disclosed in the Notes to the Accounts in compliance to Accounting Standards issued by the Institute of
Chartered Accountants of India. However, there are no materially signifcant related party transactions which have potential confict with the interests of
the Company at large.
b. During the last three fnancial years there was no penalty, restrictions of any kind and of any nature, has been imposed by the SEBI, Stock Exchange or
any other Statutory Body relating to Capital Market.
c. Whistle Blower Policy: However, there is no specifc Whistle Blower Policy laid down in the organization, but the Management always encourages the
Employees of the Company, to detect any actual or suspected fraud, unethical behavior, and be notifed the same to the management for its suitable
resolution/rectifcation. There was no incidence highlighted during the fnancial year 2012-13 within the framework of such encouragement.
d. Following are the Details of Compliance of Mandatory and Non Mandatory Requirements of Corporate Governance:
I. Mandatory Requirement
The Company is fully compliant with the applicable mandatory requirements of the revised Clause 49 which are listed below:
Particulars Clause of Listing
agreement
Compliance Status
Yes/No
I Board of Directors 49 I
(A) Composition of Board 49(IA) Yes
(B) Non-executive Directors’ compensation & disclosures 49 (IB) Yes
(C) Other provisions as to Board and Committees 49 (IC) Yes
D) Code of Conduct 49 (ID) Yes
II. Audit Committee 49 (II)
(A) Qualifed & Independent Audit Committee 49 (IIA) Yes
(B) Meeting of Audit Committee 49 (IIB) Yes
(C) Powers of Audit Committee 49 (IIC) Yes
(D) Role of Audit Committee 49 II(D) Yes
(E) Review of Information by Audit Committee 49 (IIE) Yes
III. Subsidiary Companies 49 (III) Yes
IV. Disclosures 49 (IV)
(A) Basis of related party transactions 49 (IV A) Yes
(B) Disclosures of accounting treatment 49 (IV B) Yes
(C) Board Disclosures – Risk Management 49 (IV C) Yes
(D) Proceeds from public issues, rights issues, preferential issues etc. 49 (IV D) N.A
(D) Remuneration of Directors 49 (IV E) Complied with for previous year and for current
year will be complied in next Annual Report
(E) Management 49 (IV F) Complied with for previous year and for current
year will be complied in next Annual Report
(F) Shareholders 49 (IV G) Complied with for previous year and for current
year will be complied in next Annual Report
V. CEO/CFO Certifcation 49 (V) Complied with for previous year and for current
year will be complied in next Annual Report
VI. Report on Corporate Governance 49 (VI) Complied with for previous year and for current
year will be complied in next Annual Report
VII. Compliance 49(VII) Complied with for previous year and for current
year will be complied in next Annual Report
AMD Industries Limited AMD Industries Limited
7 30th Annual Report 2012-2013
II. Non-Mandatory Requirement
Pursuant to provisions of Schedule XIII of the Companies Act, 1956, the Company has constituted a Remuneration Committee which is a non mandatory
requirement under the Clause 49 of the Listing Agreement.
Profle of Directors
Mr. H. S. Gupta
Aged about 84 years is one of the founder promoters and Directors of the company. He has been associated with the packaging industry for more than 52 years. He
started his new glass bottles trading business in Calcutta in the year 1958 in name and style of Ashoka Sales Agency. He is the Executive Chairman of the Company.
Mr. Harswarup Gupta is also running a charitable trust viz. Shakuntala Gupta Trust which is established for philanthropic activities. The Trust runs a high school at
Village Kakore, Distt. Bulandshahar, Uttar Pradesh.
Mr. Ashok Gupta
Aged about 60 years is son of Shri Harswarup Gupta and Managing Director of AMD Industries Limited. Mr. Ashok Gupta is a Bachelor of Science and enriched with
an experience of more than 35 years in Industrial and Commercial activities. He commenced business in the year 1974 by setting up a unit under the name and style
of Shyam Industries to manufacture pilfer proof Aluminum caps mainly used by liquor industry.
Mr. Ashok Gupta has traveled widely and has attended many prestigious seminars and exhibitions in India and abroad including Inter Pack and Metpack Dusserdolf,
Germany, Pet Exhibition- Munich. He also participated as a Guest Speaker on the subject “The Growing Trends of Pet Industry in Asia Pacifc Market” organized in
Germany by PET PLANET, one of the Worlds’s most read PET magazines. He also attended textile exhibition in Singapore held in October 2005. Mr. Ashok Gupta
looks after the day-to-day operations of the Company since its inception. He is a founder promoter and Managing Director of the Company.
Mr. Adit Gupta
Aged about 34 years is the son of Shri Ashok Gupta. He has completed his B.Sc. in Chemical Engineering stream from Virginia, USA and MBA (Finance) from
Boston, USA. Mr. Adit Gupta has been involved in business development and promotion function of AMD Industries Ltd. since 1999. In the year 1999 he underwent
a training course at Sacmi, Italy to get frst hand experience of beverage packaging trends and know-how in plastics and crowns manufacturing. He has joined the
Board of AMD Industries Limited on 14-11-2005 as the Director of the Company & further subsequently appointed as Whole Time Director w.e.f 14-06-2006. He has
been reappointed as Joint Managing Director w.e.f. 01
st
June 2012.
Mr.Adit Gupta was actively involved as a team leader for implementation of Company’s expansion and diversifcation projects of PET and Plastic closures in the
year 2002 and 2003. He later went to Boston for his MBA degree course and during that MBA program he attended Kortec Seminar. Kortec is a leading technology
company in Barrier PET Preforms for Beer operations. He is one of the promoter directors of the company and looks after business development function of the
company.
Mr. Mahipal Ahluwalia
Mr. Mahipal Ahluwalia is a Lawyer and having more than 35 years of experience in handling Legal cases both in High Court as well as in Supreme Court. He is Non-
Executive Independent Director of the company.
Mr. Seshadri Ratnam
Mr. Seshadri Ratnam is a B.Sc. (Hons) (Physics) and FCA from the Institute of Chartered Accountants of England & Wales, London, U.K. He has over 40 years of
experience in the feld of Corporate Laws, Finance and Taxation. He has also been involved in fnancial consultancies relating to fund raising through GDRs, IPOs
and also through agencies like ADB, World Bank etc. He was Director Finance of Uttaranchal Jal Vidyut Nigam Limited. He has also worked in the capacity of Director
Finance of Bharti Telecom.
Mr. Prabhat Krishna
Mr. Prabhat Krishna aged about 65 years, Mr. Prabhat Krishna is a retired banker from State Bank of India. He is B. Tech (Chem) from IIT, New Delhi. He started
his career with a Chemical Consultancy frm. He joined SBI as Probationary Offcer in 1973. He kept on moving on different position within the Bank and handled
Corporate Account with a minimum limit of Rs.50 Crores & above. Mr. Prabhat Krishna worked with the Bank for 35 years and retired in November 2007.
8. Means of Communication
i. In terms of requirements of Clause 41 of the Listing Agreement the Quarterly/ Annual Financial Results of the Company are being published in newspapers
and are also being displayed on the Website of the Company i.e. www.amdindustries.com.
ii. The Quarterly/Annual Financial Results of the Company are being published normally in the following newspapers:
1. Business Standard, Delhi. (Hindi)
2. Business Standard, Delhi. (English)
9. General Shareholders Information
a. Annual General Meeting details:-
1. Date : 24
th
September, 2013.
2. Time : 10:30 A.M.
3. Venue : Daffodils Hotels, Tania Farms Complex, Chattarpur
Mandir Road, Satbari Village, New Delhi-110030.
b. Financial Year: 2012-2013 (ended on 31
st
March 2013).
c. Book Closure Date : 9
th
September (Thursday) to 24
th
September (Tuesday) (Both days- inclusive).
d. Dividend Payment Date : On or After 4
th
October 2013
e. Shares of Company are listed on:-
a. National Stock Exchange (NSE) and
b. Bombay Stock Exchange (BSE)
f. Stock Code: 532828 – BSE
AMDIND – NSE
g. The monthly high and low stock price during the fnancial year 2012-13 is under.
BSE Price NSE Price
Month High Price (in Rs.) Low Price (in Rs.) High Price (in Rs.) Low Price (in Rs.)
Apr-12 15 14.35 16.24 14.2
May-12 14.5 14.45 16.5 14.15
Jun-12 16 15.1 17.2 14.1
Jul-12 15.7 14.55 16.45 14.3
Aug-12 15.9 15.05 18.6 14.22
Sep-12 15.35 15 17.8 14.55
Oct-12 15.7 15.55 16.35 15.15
Nov-12 15.7 15.15 16.35 12.8
Dec-12 15.8 15 16.2 15.05
Jan-13 14.5 14.5 15.85 14.35
Feb-13 13.25 12.75 14.95 12.72
Mar-13 10.55 10 13.1 9.75
AMD Industries Limited AMD Industries Limited
8 30th Annual Report 2012-2013
h. Comparison of share of Company with indices
0.00
1000.00
2000.00
3000.00
4000.00
5000.00
6000.00
7000.00
0
2
4
6
8
10
12
14
16
18
N
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Months
Price NIFTY
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AMD Share Price-NSE
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10000.00
15000.00
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AMD Share Price-BSE
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i. Registrar and Share Transfer Agent:
Bigshare Services Private Limited
E-2/3, Ansa Industrial Estate,
Saki Naka Mumbai-400072
Phone # 91-22-28470652
Fax # 91-22-28525207.
j. Share Transfer System:
Company’s shares are being transferable both in Demat & Physical mode. The transfers of shares in case of dematerialised form are being conduced through
Depository Participants (DP). For the transfer of physical shares Company’s Registrar at above mentioned address is to be contacted. Further to expedite the
process of transfer of physical shares, the Company has authorized the Offcials of the Company in compliance with Clause 49 of the Listing Agreement.
k. Distribution of share holding (as on 31
st
March 2013)
S.No. Range Total Holders % of Total Holders Total Holding % of Total Capital
1 1-5000 10895 85.3506 1547239 8.0725
2 5001-10000 972 7.6146 815169 4.2530
3 10001-20000 460 3.6036 718018 3.7462
4 20001-30000 177 1.3866 449790 2.3467
5 30001-40000 63 0.4935 229672 1.1983
6 40001-50000 48 0.3760 229913 1.1995
7 50001-100000 81 0.6345 554316 2.9442
8 100001 -999999999 69 0.5405 14612632 76.2395
Total 12765 100.00 19166749 100.00
l. Statement showing Shareholding Pattern as on 31
st
March 2013
Category
Code
Category of Shareholder Total No. of
Shares
Total %
Shareholding
A Shareholding of Promoter and promoter group
1 Indian 11736404 61.23
2 Foreign 0.00 0.00
Total (A) 11736404 61.23
B Public Shareholdings
1. Institutions 0.00 0.00
2. Non - Institutions 7430345 38.77
Total (B) 7430345 38.77
C Shares held by custodians and against which
Depository Receipts have been issued
0.00 0.00
Grand Total (A+B+C) 19,166,749 100.00
m. Dematerialization and liquidity of share (as on 31
st
March 2013)
As on 31st March, 2013 99.99% shares of the Company were held in dematerialized form.
None of the shares of the Company are Locked-in.
n Plant Locations.
S. No. Plant Location Product
1 C-4 & 5, Site No. 3, Meerut Road Indl. Area, Ghaziabad, U.P. 201001. CSD Closures and PET Preforms
2 SP- 32 RIICO Industrial Area, Neemrana, (Rajasthan) Crown Caps, CSD Closures and PET Preforms
o. Address for correspondence:
AMD Industries Limited
18, First Floor, Pusa Road,
Karol Bagh, New Delhi 110005
E-mail:[email protected].
For and on behalf of Board of Directors
Place: New Delhi Ashok Gupta
Date 28
th
May 2013 Managing Director
AMD Industries Limited AMD Industries Limited
9 30th Annual Report 2012-2013
Auditor’s certifcate on Corporate Governance
To,
The Members,
AMD Industries Limited
We have examined the compliance of the conditions of Corporate Governance
by AMD Industries Limited, for the Financial Year ended on 31
st
March 2013, as
stipulated in Clause 49 of the Listing Agreement of the said company with the
stock exchange(s).
The compliance of conditions of corporate governance is the responsibility of
the Management of the Company. Our examination has been limited to a review
of the procedures and implementation thereof, adopted by the Company for
ensuring the compliance with conditions of Corporate Governance. It is neither
an audit nor an expression of opinion on fnancial statements of the Company.
In our opinion and to best of our information and according to the explanations
given to us, and the representations made by the Directors and the Management
of the Company, we certify that the Company has compiled with the conditions
of corporate governance in the listing Agreement with Stock Exchanges .
We state that in respect of investor’s grievances received during the year ended
on 31
st
March 2013, no investor grievances is pending for a period exceeding
one month against the company as per records maintained by the company.
We further state that such compliances is neither an assurance as to the future
viability of the company nor the effciency and effectiveness with which the
management has conducted the affairs of the company.
For SURESH & ASSOCIATES
FRN: 003316N
CHARTERED ACCOUNTANTS
(CA. SURESH K GUPTA)
PARTNER
M. No. 080050
To
The Board of Directors
AMD Industries Limited
18, 1
st
Floor, Pusa Road,
Karol Bagh
New Delhi –110005.
Sub: Secretarial Audit Report in respect of the Secretarial Audit conducted on
the various compliances made by the Company during period ended on
31
st
March, 2013.
Dear Sirs,
Pursuant to our appointment as the Secretarial Auditor of the Company for
conducting a detailed secretarial audit in respect of various compliances
made by the Company under the Companies Act, 1956, The Depositories Act,
1996, SEBI Act, 1992, SEBI (Substantial Acquisition of Shares & Takeover)
Guidelines, 2011, SEBI (Prohibition of Insider Trading) Regulations, 1992,
The Securities Contract Regulation Act, 1956 and the Listing Agreement
entered into by the Company with the Bombay Stock Exchange Limited
(BSE) and the National Stock Exchange (NSE) covering therein the period
commencing from 01.04.2012 and ending on 31.3.2013 , we hereby report
as under :
We have examined the various registers, records, books and papers
as required to be maintained and fled by the Company under the above
mentioned enactments, rules, regulations and procedures prescribed there
under and we have also examined the information and explanations given
to us by the Management and the Compliance Offcer of the Company, and
pursuant thereto our report has been segregated in two parts, one covering
the report on the compliances made by the Company under the Companies
Act, 1956 and the second covering the report on the compliances made
by the Company under SEBI Act and various Guidelines prescribed there
under, SCRA, Depositories Act and the Listing Agreement, which is given
as under :
I. Report on the Compliances made by the Company under the
Companies Act, 1956 and rules and Regulations prescribed there
under:
We have perused that the Company has complied with the provisions
of Companies Act, 1956, Rules & Regulations made there under and
the Memorandum & Articles of Association of the Company with regard
to:
a. Maintenance of various Statutory Registers and fling of forms
& returns with necessary attachments with the Registrar of
Companies.
b. Constitution of proper Board, due Compliances & Disclosures by
the Members of the Board to the Company and to the Authorities
prescribed wherever required, conducting of Board Meetings by
serving appropriate notices within the time prescribed, conducting of
meetings of the shareholders within the time prescribed by serving
appropriate and timely notices, recording and signing of Minutes
of the Board Meetings and the Shareholders Meetings within the
time prescribed, appointment, reappointment, rotation of Directors
including Managing Director and the Whole Time Directors and
payment of remuneration within the prescribed ceilings.
c. The appointment and the reappointment of Auditors of the Company
and the payment of remuneration to the Auditors of the Company.
d. Transfer of Company’s Shares, Declaration & payment of dividend to
the shareholders of the Company.
e. Borrowings from the Banks and/or fnancial institutions and
registration, modifcation and satisfaction of charges thereof, inter
corporate loans, investments, guarantees, affxation of Common
Seal of the Company, publication of name of the Company.
f. Generally, all other applicable provisions of the Act, Rules &
Regulations made there under.
II. Report on the Compliances made by the Company under the SEBI
Act, various Guidelines prescribed thereunder, SCRA, Depositories
Act and the Listing Agreement :
We have perused that the Company is regular in compliances as
prescribed under the provisions of SEBI Act, various Guidelines prescribed
there under, SCRA, Depositories Act and the Listing Agreement which are
reported as under:
a. The Company has complied with the provisions of Depositories
Act, Bye-laws framed there under with regard to dematerialization/
rematerialisation of securities and reconciliation of records of
dematerialized securities.
b. The Company has complied with the requirements as prescribed
under the Listing Agreement entered into by the Company with the
BSE and the NSE. The Company is regular in getting its various
notices & fnancial results published in Hindi and English newspapers
as required under the said agreement.
c. The Company has complied with the provisions of SEBI (Substantial
Acquisition of Shares & Takeover) Guidelines, 2011.
d. Pursuant to the provisions of SEBI (Prohibition of Insider
Trading) Regulations, 1992, in terms of explanations, none
of the employees of the company traded any shares during
share trading window closure during year under review and
the Company has adopted the Code of Internal Procedure
and Conduct as prescribed duly approved by the Management
Committee of the Company.
For AGG & Associates
Company Secretaries
Amar Gopal Gambhir
Place: New Delhi Practicing Company Secretary
Dated: 31
st
July 2013 FCS : 3668, CP:3653
SECRETARIAL AUDIT REPORT
For the year ended 31
st
March, 2013
AMD Industries Limited AMD Industries Limited
10 30th Annual Report 2012-2013
Independent Auditor`s Report
To
The Members of
AMD Industries Limited
We have audited the accompanying fnancial statements of AMD Industries Limited (‘the Company’) which comprise the balance sheet as at 31
st
March 2013,
the statement of proft and loss and the cash fow statement for the year then ended and a summary of signifcant accounting policies and other explanatory
information.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation of these fnancial statements that give a true and fair view of the fnancial position, fnancial performance and cash
fows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 (“the Act”). This
responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the fnancial statements that
give a true and fair view and are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these fnancial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing
issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the fnancial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the fnancial statements. The procedures selected depend on
the auditor’s judgment, including the assessment of the risks of material misstatement of the fnancial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the Company’s preparation and fair presentation of the fnancial statements in order to design audit
procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of
the accounting estimates made by management, as well as evaluating the overall presentation of the fnancial statements.
We believe that the audit evidence we have obtained is suffcient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the explanations given to us, the fnancial statements give the information required by the Act in the
manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:
(i) in the case of the balance sheet, of the state of affairs of the Company as at 31
st
March 2013;
(ii) in the case of the statement of proft and loss, of the proft for the year ended on that date; and
(iii) in the case of the cash fow statement, of the cash fows for the year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor’s Report) Order, 2003 (“the Order”), as amended, issued by the Central Government of India in terms of sub-section
(4A) of section 227 of the Act, we give in the Annexure a statement on the matters specifed in paragraphs 4 and 5 of the Order.
2. As required by section 227(3) of the Act, we report that:
a. we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit;
b. in our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books;
c. the Balance Sheet, Statement of Proft and Loss and Cash Flow Statement dealt with by this Report are in agreement with the books of account;
d. in our opinion, the Balance Sheet, Statement of Proft and Loss and Cash Flow Statement comply with the Accounting Standards referred to in subsection
(3C) of section 211 of the Companies Act, 1956; and
e. on the basis of written representations received from the directors as on 31
st
March 2013, and taken on record by the Board of Directors, none of the
directors is disqualifed as on 31
st
March 2013, from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies
Act, 1956.
f. Since the Central Government has not issued any notifcation as to the rate at which the cess is to be paid under section 441A of the Companies Act,
1956 nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the
company.
For SURESH & ASSOCIATES
FRN: 003316N
CHARTERED ACCOUNTANTS
(CA. SURESH K GUPTA)
DATE : 28
th
May 2013 PARTNER
PLACE : NEW DELHI M. No. 080050
ANNEXURE TO AUDITOR’S REPORT
Referred to Paragraph 4 of our report of even date attached
(i) a) The company is maintaining proper records showing full particulars including quantitative details and situation of fxed assets.
b) Some of the fxed assets of the company have been physically verifed during the year by the management in accordance with program of verifcation,
which in our opinion provide for physical verifcation of all the fxed assets at reasonable intervals. According to information and explanation given to us,
no material discrepancies have been noticed on such verifcation.
c) No fxed assets have been disposed off during the year which may affect the going concern concept.
(ii) a) As explained to us, the inventory has been physically verifed by the management at reasonable intervals during the year. In our opinion, the frequency of
such verifcation is reasonable considering size and nature of the business.
b) In our opinion and according to information and explanation given to us, the procedures of physical verifcation of inventory, followed by the management,
are reasonable and adequate in relation to the size and nature of its business.
c) In our opinion and according to information and explanation given to us, the company is maintaining proper records of inventory and no serious
discrepancies have been noticed on physical verifcation.
(iii) a) The company has granted unsecured loan and advances of Rs.38,14,64,201/- to one company covered in the register maintained under section 301 of the Act.
b) In our opinion the rate of interest and other terms and conditions of loan and advances given by the company are prima facie not prejudicial to the interest
of the company.
c) As per information given to us, the repayment of principal amount and interest are regular.
d) There has not been any instance of overdue exceeding rupees one lac during the year.
e) The company has taken unsecured loans of Rs.1,81,92,280.68/- from one company and Rs.4,62,92,487/- from three other parties , coveredin the register
maintained under section 301 of the Act.
AMD Industries Limited AMD Industries Limited
11 30th Annual Report 2012-2013
f) The rate of interest and other terms and conditions of loans taken by the company are prima facie not prejudicial to the interest of the company.
g) As per information given to us, the repayment of principal amount and interest are regular.
(iv) In our opinion and according to information and explanation given to us, there are adequate internal control procedures commensurate with the size and nature
of the company for purchase of inventory and fxed assets and sale of goods and services. There is no continuing failure to correct major weakness in internal
control system.
(v) a) According to the information and explanation given to us, the company has entered into transaction pursuance of contract or arrangement entered in
register maintained under section 301 of the Companies Act, 1956.
b) In respect of the tranjection made in pursuance of search contract or arrangement and exceeding value rupees fve lacs in respect of any party during
the year, because of the absence of the compareable trycies and variation in the quality of the goods involved, we are unable to comments wheater the
tranjection were made act prevailing market prices at the relevent time.
(vi) In our opinion and explanation given to us, the company has not accepted any public deposit and the directives issued by the RBI and the provisions of 58A
and 58AA of the Act and rules framed there under, are not applicable to the company.
(vii) In our opinion, the company has an internal audit system commensurate with its size and nature of its business.
(viii) The central government has perscribe maintenance of cost record undersection 209 (1) (D) of the company act, 1956 in respect of manufecturing activities of
the company we have broadly revued the account and records of the company in the connection and are of the opinion, that primafacie, discribe accounts and
records have been maintain by the company.
(ix) a) According to books of accounts examined by us and explanation given to us company is generally regular in depositing undisputed statutory dues and
there are no undisputed statutory dues payable in respect of PF, ESI, Income Tax, Sales Tax, Wealth Tax Custom Duty, Excise Duty, Cess and other
statutory dues which are outstanding as at 31
st
March, 2013 for the period of more than 6 months from the date they became payable.
b) According to information given to us certain dues of Sales Tax,Entry Tax,Excise Duty and other statutory dues have not been deposited by the company
on account of dispute pending before concerned authority details of such dues are given below.
(x) There are no accumulated losses of the company. The company has also not incurred any cash losses during the fnancial year and nor in immediately
preceding fnancial year.
S. No. Period Amount Description Appeal pending before
1 F.Y. 1999-00 to 2006-07 9,50,962/- Local Sales Tax raised by UP Local Sales Tax
Authorities
Supreme Court
2. F.Y. 1999-00 to 2006-07 31,18,745/- Central Sales Tax raised by UP Trade tax
Authorities
Supreme Court
3. F.Y. 2003-04 3,58,400/- Demand under Central Sales Tax raised by U.P.
Trade Tax Authorities
Ad. Commissioner Appeal (trade tax), Ghaziabad
4. F.Y. 2001-02 11,45,102/- Entry tax raised by UP Trade Tax Authorities Jt. Commissioner Appeal (trade tax), Ghaziabad
5. F.Y. 2002-03,
F.Y. 2004-05 &
F.Y. 2005-06
11,40,307/-
16,37,643/-
2,20,397/-
Entry tax raised by UP trade tax Authorities Supreme Court of India
6. F.Y. 2005-06 4,74,111/- Demand under Central Sales Tax raised by U.P.
Trade Tax Authorities
Commissioner Appeal (trade tax), Ghaziabad
7. F.Y. 2007-2008 2,02,382/-/- Trade Tex raised by U.P. Trade Tax Assessing
Authority
Addl. Commissioner Appeal (trade tax),
Ghaziabad
8. F.Y. 2003-04 1,10,000/- Interest on Excise Duty raised by Excise
Assessing Authorities, Ghaziabad
Dy. Commissioner (Appeals) Central Excise,
Ghaziabad
9. F.Y. 2008-2009 1,37,52,218 Trade Tax Demand raised by U. P. Trade Tax
Assesing Authorities
Addl. Commissioner (Appeals), Trade Tax
Ghaziabad
10. F.Y. 2008-2009 70,564/- Central Sales Tax raised by U.P. Trade Tax
Authorities
Addl. Commissioner (Appeals), Sales Tax
Ghaziabad
11. F.Y. 2012-2013 8,42,772/- Trade Tax raised as per provisional assessment
by U.P. Trade Tax Assessing Authorities
Addl. Commissioner (Appeals), Trade Tax
Ghaziabad
12. F.Y. 2012-13 46,91,946/- Excise Duty Demand raised by Excise Assessing
Authorities
Addl. Commissioner (Appeals), Central Excise,
Ghaziabad
13. F.Y. 2007-2008 38,09,702/- Demand raised by Trade Tax Department.
Quashed in Appeal by Tribunal but effect of avard
yet not given by the Tax Authorities
Appeal by Department pending before Allahabad
High Court
(xi) As per explanation and information provided to us company has not defaulted in repayment of dues to a fnancial institution or banks.
(xii) The company has not granted loan and advances on basis of security by way of pledged of shares, debentures, other securities.
(xiii) In our opinion and according to the information and explanations given to us, the company is not a chit fund/nidhi/mutual beneft fund/ society.
(xiv) According to the information and explanations given to us, company is dealing in shares and proper record have been maintained for all transactions. We report
the company is making timely increased of the transactions and all shares have been held by the company in its own name.
(xv) In our opinion and according to the information and explanations given to us, the terms and conditions on which the Company has given guarantee for loans
taken by others from banks or fnancial institutions are not prime-facie prejudicial to the interest of the Company.
(xvi) To the best of our knowledge & belief and according to information given to us term loan availed by company are prima facie applied by company during the
year for the purpose for which they are obtained.
(xvii) As per information & explanation given to us and overall examination of balance sheet of the company we report that funds raised on short-term basis have
prima facie not been used for long-term investment and vice versa.
(xviii) As per information and explanation given to us the company has not made preferential allotment of shares to parties and companies covered in register
maintained under section 301 of the Companies Act.
(xix) As per information and explanation given to us the company has not issued any debentures and no security has been created against the debenture.
(xx) During the year, company has not raised money by way public issue of equity shares.
(xxi) As per information and explanation given to us no fraud has been noticed or reported during the year.
For SURESH & ASSOCIATES.
FRN : 003316N
CHARTERED ACCOUNTANTS.
(CA SURESH K. GUPTA)
DATE : 28.05.2013 PARTNER
PLACE: NEW DELHI M No. 080050
AMD Industries Limited AMD Industries Limited
12 30th Annual Report 2012-2013
Particulars Note No. As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
I EQUITY AND LIABILITIES
Shareholders’ funds
(a) Share Capital 3 191,667,490.00 191,667,490.00
(b) Reserves and Surplus 4 963,010,081.58 967,155,519.89
1,154,677,571.58 1,158,823,009.89
Non-current liabilities
(a) Long-term borrowings 5 513,782,576.51 282,235,890.02
(b) Deferred tax liabilities (net) 30 81,547,440.00 84,712,213.00
(c) Other long-term liabilities 6 823,400.00 925,475.00
(d) Long-term provisions 7 16,312,922.00 14,575,032.00
612,466,338.51 382,448,610.02
Current liabilities
(a) Short-term borrowings 8 315,960,224.76 353,580,544.39
(b) Trade payables 9 317,625,390.36 230,353,091.88
(c) Other current liabilities 10 148,138,406.51 172,331,301.57
(d) Short-term provisions 11 29,232,834.57 151,427,154.88
810,956,856.20 907,692,092.72
TOTAL 2,578,100,766.29 2,448,963,712.63
II ASSETS
Non-current assets
(a) Fixed assets 12
(i) Tangible assets 868,381,665.30 853,633,911.23
(ii) Intangible assets 891,116.00 1,242,671.00
(iii) Capital work in progress 7,836,529.00 -
877,109,310.30 854,876,582.23
(b) Non-current investments 13 52,833,498.42 55,985,585.69
(c) Long-term loans and advances 14 474,980,415.92 477,809,447.00
1,404,923,224.64 1,388,671,614.92
Current assets
(a) Inventories 15 577,760,209.93 369,527,275.94
(b) Trade receivables 16 309,174,323.76 365,804,877.15
(c) Cash and cash equivalents 17 41,414,164.91 42,230,423.72
(d) Short-term loans and advances 18 234,960,293.93 164,934,047.79
(e) Other current assets 19 9,868,549.12 117,795,473.11
1,173,177,541.65 1,060,292,097.71
TOTAL 2,578,100,766.29 2,448,963,712.63
III Notes forming part of the fnancial statements 1 - 33
As per our report of even date attached
For Suresh & Associates For and on behalf of the Board of Directors
FRN No. 003316N
Chartered Accountants
(CA Suresh K. Gupta) (Ashok Gupta) (Adit Gupta)
Partner Managing Director Jt. Managing Director
Membership No.080050 DIN - 00031630 DIN - 00238784
(CA Laxmi Kant) (Joylin Jain)
DGM - Finance & Accounts Company Secretary
Place : New Delhi
Date : 28.05.2013
Balance Sheet as at 31
st
March, 2013
AMD Industries Limited AMD Industries Limited
13 30th Annual Report 2012-2013
As per our report of even date attached
For Suresh & Associates For and on behalf of the Board of Directors
FRN No. 003316N
Chartered Accountants
(CA Suresh K. Gupta) (Ashok Gupta) (Adit Gupta)
Partner Managing Director Jt. Managing Director
Membership No.080050 DIN - 00031630 DIN - 00238784
(CA Laxmi Kant) (Joylin Jain)
DGM - Finance & Accounts Company Secretary
Place : New Delhi
Date : 28.05.2013
Statement of Proft and Loss for the year ended 31
st
March, 2013
Particulars Note No. For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
I Revenue from operations (gross) 20 1,852,175,360.93 2,040,350,781.97
Less: Excise duty 282,738,787.00 220,273,280.00
Revenue from operations (net) 1,569,436,573.93 1,820,077,501.97
II Other income 21 13,200,111.08 6,906,700.33
Total revenue (1+2) 1,582,636,685.01 1,826,984,202.30
III Expenses
(a) Cost of materials consumed 22.a 966,213,608.63 1,020,337,916.99
(b) Purchases of stock-in-trade 22.b 30,923.00 2,045,732.50
(c) Changes in inventories of fnished goods, work-in-progress and stock-in-trade 22.c (62,194,175.00) 57,401,160.00
(d) Employee benefts expense 23 111,994,099.87 114,407,012.40
(e) Finance costs 24 101,032,399.80 107,345,584.29
(f) Depreciation and amortisation expense 12 82,789,871.72 76,253,471.34
(g) Other expenses 25 360,163,219.59 369,647,966.50
Total expenses 1,560,029,947.61 1,747,438,844.02
IV Proft / (Loss) before exceptional Items and tax 22,606,737.40 79,545,358.28
V Exceptional items - Proft/(Loss) on Sale/Written Off of Fixed Assets 8,774.29 24,143,537.03
VI Proft / (Loss) before tax 22,615,511.69 103,688,895.31
VII Tax expense:
(a) Current tax expense for current year 11,705,000.00 33,000,000.00
(b) Current tax expense relating to prior years (1,827,745.00) 3,254,127.00
(c) Net current tax expense 9,877,255.00 36,254,127.00
(d) Deferred tax (3,164,773.00) 2,403,017.00
6,712,482.00 38,657,144.00
VIII Proft / (Loss) for the period 15,903,029.69 65,031,751.31
IX Earning per equity shares: Basic and diluted 29 0.83 3.39
X Notes forming part of the fnancial statements 1 - 33
AMD Industries Limited AMD Industries Limited
14 30th Annual Report 2012-2013
Notes forming part of the fnancial statements
Note Particulars
1 Corporate information
The Compnay is engaged in the Manufacturing of Pet Preform,Crown Caps and CSD Closures. The company is also engaged in jobwork operation of preforms.
The company is continuously catering to the packaging needs of Beverages and Beer Industry of the country and abroad.The company has also interest in the
Real Estates.
2 Signifcant accounting policies
2.1 Basis of accounting and preparation of fnancial statements
The fnancial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to
comply with the Accounting Standards notifed under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the
Companies Act, 1956. The fnancial statements have been prepared on accrual basis under the historical cost convention.The accounting policies adopted in
the preparation of the fnancial statements are consistent with those followed in the previous year.
2.2 Use of estimates
The preparation of the fnancial statements in conformity with Indian GAAP requires the Management to make estimates and assumptions considered in the
reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The Management believes
that the estimates used in preparation of the fnancial statements are prudent and reasonable. Future results could differ due to these estimates and the
differences between the actual results and the estimates are recognised in the periods in which the results are known / materialise.
2.3 Inventories
Inventories
(i) Raw Material
At cost or net realizable value (on FIFO basis) whichever is lower (Rejected raw material at cost Less claim received thereon)
ii) Finished Goods
At cost or net realizable value whichever is lower. For arriving at the cost for this purpose the cost includes material cost and manufacturing expenses.
iii) Semi Finished Goods
At cost of input plus apportioned overhead expenses and depreciation.
iv) Job work in Process
At apportioned manufacturing expenses and depreciation.
v) Stores and Spares
At cost or net realizable value (on FIFO basis) whichever is lower.
vi) Scrap
At estimated realizable value.
vii) Real Estates Inventory
At cost plus cost of improvement.
In order to comply with the mandatory requirements of Accounting Standard -2 ‘Valuation of inventories’ prescribed by the Institute of Chartered
Accountants of India; The Company has adopted the exclusive method of the excise duty”
2.4 Cash and cash equivalents (for purposes of Cash Flow Statement)
Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an original maturity of three months or less
from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignifcant risk of
changes in value.
2.5 Cash fow statement
Cash fows are reported using the indirect method, whereby proft / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-
cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash fows from operating, investing and fnancing activities of the
Company are segregated based on the available information.
2.6 Depreciation and Amortisation
The depreciation on Plant & Machinery including Moulds installed in Neemrana Unit and Ghaziabad Unit has been provided on ’Multiple Shift Basis’. The depreciation
on all assets has been provided on ‘straight-line method’ at the rates prescribed in Schedule XIV of the Companies Act, 1956.
2.7 Revenue recognition
Revenue in respect of sale of products is recognised on delivery, which coincides with the transfer of risk and rewards of ownership. Discounts given / accrued
to customers at the time of despatch are considered as trade discounts and netted from sales.
Sales made to Nepal and Bhutan has been treated as export sale. However there is no infow of Foreign Exchange on sales to Nepal and Bhutan.
Job work of Preform Completed and lying in Factories as on 31
st
March 2013 has been shown as inventory under the head Job Work in Process.
Interest income is recognized on an accrual basis on time proportionate basis, based on interest rates implicit in the transaction.
2.8 Other income
Dividend income is recognized on receipt basis.
2.9 Tangible fxed assets
Fixed assets are carried at cost less accumulated depreciation and impairment losses, if any. The cost of fxed assets includes interest on borrowings attributable
to acquisition of qualifying fxed assets up to the date the asset is ready for its intended use and other incidental expenses incurred up to that date. Exchange
differences arising on restatement / settlement of long-term foreign currency borrowings relating to acquisition of depreciable fxed assets are adjusted to the
cost of the respective assets and depreciated over the remaining useful life of such assets. Machinery spares which can be used only in connection with an
item of fxed asset and whose use is expected to be irregular are capitalised and depreciated over the useful life of the principal item of the relevant assets.
Subsequent expenditure relating to fxed assets is capitalised only if such expenditure results in an increase in the future benefts from such asset beyond its
previously assessed standard of performance.
CENVAT Credit availed on acquisition of fxed assets is reduced from the cost of concerned assets.
Capital work-in-progress:
Projects under which assets are not ready for their intended use and other capital work-in-progress are carried at cost, comprising direct cost, related incidental
expenses and attributable interest.
AMD Industries Limited AMD Industries Limited
15 30th Annual Report 2012-2013
2.10 Intangible assets
Intangible assets are carried at cost less accumulated amortisation and impairment losses, if any. The cost of an intangible asset comprises its purchase price,
including any import duties and other taxes (other than those subsequently recoverable from the taxing authorities), and any directly attributable expenditure
on making the asset ready for its intended use and net of any trade discounts and rebates. Subsequent expenditure on an intangible asset after its purchase /
completion is recognised as an expense when incurred unless it is probable that such expenditure will enable the asset to generate future economic benefts
in excess of its originally assessed standards of performance and such expenditure can be measured and attributed to the asset reliably, in which case such
expenditure is added to the cost of the asset.
2.11 Foreign currency transactions
(i) Foreign currency transactions during the year are recorded at the rate of exchange prevailing on the date of transaction. Foreign currency monetary
assets and liabilities are translated into Rupees at the rate of exchange prevailing on the date of Balance Sheet.All Exchange difference are dealt
with in the Proft and Loss Account.Foreign Currency monetary items are reported using the closing rate.
(ii) Where the company has entered into forward exchange contracts, the difference between the forward rate and spot rate at the date of the contract
is recognised in the statement of th eproft and loss over the life of the contract and difference between the spot rate at the date of contract and
the exchange rate prevailing on the balance sheet date is recognised as per Accounting Standard (AS)-11 issued by the Institute of Chartered
Accountants of India. Any proft or loss arising on cancellation or renewal of the forward exchange contract is recognised as Income or as expenses
for the year.
2.12 Government grants, subsidies and export incentives
Export benefts are accounted for in the year of exports based on eligibility and when there is no uncertainty in receiving the same.
2.13 Investments
Long-term investments , are carried individually at cost less provision for diminution, other than temporary, in the value of such investments. Current investments
are carried individually, at the lower of cost and fair value. Cost of investments include acquisition charges such as brokerage, fees and duties.
2.14 Employee benefts
(i) Short-term employee benefts are recognised as an expense at the undiscounted amount in the proft and loss account of the year in which the related
service is rendered.
(ii) Defned Beneft Plans:
- Leave Salary of employees on the basis of acturial valuation as per AS 15.
- Gratuity Liability on the basis of acturial valuation as per AS 15.
(iii) Defned Contribution Plans:
Provident fund and ESI on the basis of actual liability accrued and paid to authorities.
2.15 Borrowing costs
Borrowing costs include interest, amortisation of ancillary costs incurred and exchange differences arising from foreign currency borrowings to the extent
they are regarded as an adjustment to the interest cost. Costs in connection with the borrowing of funds to the extent not directly related to the acquisition of
qualifying assets are charged to the Statement of Proft and Loss over the tenure of the loan. Borrowing costs, allocated to and utilised for qualifying assets,
pertaining to the period from commencement of activities relating to construction / development of the qualifying asset upto the date of capitalisation of such
asset is added to the cost of the assets. Capitalisation of borrowing costs is suspended and charged to the Statement of Proft and Loss during extended periods
when active development activity on the qualifying assets is interrupted.
2.16 Segment reporting
The Company identifes primary segments based on the dominant source, nature of risks and returns and the internal organisation and management structure.
The operating segments are the segments for which separate fnancial information is available and for which operating proft/loss amounts are evaluated
regularly by the executive Management in deciding how to allocate resources and in assessing performance.
2.17 Earnings per share
Basic Earnings per share are calculated by dividing the net proft or loss for the period attributable to equity shareholders by the weighted average number of
euity shares outstanding during the period. Diluted Earnings per share are not different from basic earning per share.
2.18 Taxes on income
The Deffered tax expense or beneft is recognised on timing differences being the difference between taxable incomes and accounting incomes that originate
in one period and are capable of reversal in one or more subsequent periods. Deffered tax assets and liabilities are measured using the tax rates and tax laws
that have been enacted or substantively enacted by the balance sheet date.
2.19 Impairment of assets
The carrying values of assets / cash generating units at each Balance Sheet date are reviewed for impairment. If any indication of impairment exists, the
recoverable amount of such assets is estimated and impairment is recognised, if the carrying amount of these assets exceeds their recoverable amount. The
recoverable amount is the greater of the net selling price and their value in use. Value in use is arrived at by discounting the future cash fows to their present
value based on an appropriate discount factor. When there is indication that an impairment loss recognised for an asset in earlier accounting periods no longer
exists or may have decreased, such reversal of impairment loss is recognised in the Statement of Proft and Loss, except in case of revalued assets.
2.20 Provisions and contingencies
A provision is recognised when the Company has a present obligation as a result of past events and it is probable that an outfow of resources will be required
to settle the obligation in respect of which a reliable estimate can be made. Provisions (excluding retirement benefts) are not discounted to their present value
and are determined based on the best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and
adjusted to refect the current best estimates. Contingent liabilities are disclosed in the Notes.
AMD Industries Limited AMD Industries Limited
16 30th Annual Report 2012-2013
Note 3 Share Capital
Particulars As at 31st March, 2013 As at 31st March, 2012
Number of shares Rs. Number of shares Rs.
(a) Authorised
Equity shares of Rs. 10/- each with voting rights 25,000,000.00 250,000,000.00 25,000,000.00 250,000,000.00
25,000,000.00 250,000,000.00 25,000,000.00 250,000,000.00
(b) Issued
Equity shares of Rs. 10/- each with voting rights 19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
(c) Subscribed and fully paidup
Equity shares of Rs.10/- each with voting rights 19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
Total 19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
Note 3 Share capital (contd.)
Particulars
Notes:
Reconciliation of the shares outstanding at the beginning and at the end of the reporting period
(i) Details of shares held by the holding company, the ultimate holding company, their subsidiaries and associates:
Particulars Opening Balance Closing Balance
Equity shares with voting rights
Year ended 31 March, 2013
- Number of shares 19,166,749.00 19,166,749.00
- Amount (Rs.) 191,667,490.00 191,667,490.00
Year ended 31 March, 2012
- Number of shares 19,166,749.00 19,166,749.00
- Amount (Rs.) 191,667,490.00 191,667,490.00
Note 3 Share Capital (contd.)
Particulars
(ii) Details of shares held by each shareholder holding more than 5% shares:
Class of shares / Name of shareholder As at 31st March, 2013 As at 31st March, 2012
Number of shares
held
% holding in that
class of shares
Number of shares
held
% holding in that
class of shares
Equity shares with voting rights
Harswarup Gupta 2,575,604.00 13.4379% 2,575,604.00 13.4379%
Ashok Gupta 3,427,796.00 17.8841% 3,427,796.00 17.8841%
Chitra Gupta 1,200,945.00 6.2658% 1,200,945.00 6.2658%
Adit Gupta 3,284,126.00 17.1345% 3,264,126.00 17.0301%
Ashok Sons (HUF) 982,500.00 5.1261% 982,500.00 5.1261%
Note 4 Reserves and surplus
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Securities premium account
Opening balance 650,390,253.28 650,390,253.28
Closing balance 650,390,253.28 650,390,253.28
(b) General reserve
Opening balance 27,326,418.51 27,326,418.51
Closing balance 27,326,418.51 27,326,418.51
(c) Surplus / (Defcit) in Statement of Proft and Loss
Opening balance 289,438,848.10 246,683,171.79
Add: Proft / (Loss) for the year 15,903,029.69 65,031,751.31
Less: Dividends proposed to be distributed to equity shareholders Re 0.90 Per shares
(Previous year Re 1/- per share)
17,250,074.00 19,166,749.00
Tax on dividend 2,798,394.00 3,109,326.00
Closing balance 285,293,409.79 289,438,848.10
Total 963,010,081.58 967,155,519.89
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
17 30th Annual Report 2012-2013
Note 5 Long-term borrowings
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Term loans
From banks
Secured 485,227,048.11 265,347,541.23
485,227,048.11 265,347,541.23
From other parties
Secured 28,555,528.40 16,888,348.79
28,555,528.40 16,888,348.79
Total 513,782,576.51 282,235,890.02
Note :
Details of Repayment Terms and Security against the Term Loans
Particulars Repayment Terms Security Rate of Interest Amount of EMI/
Instalment
Kotak Mahindra Bank Repayble in 60 Monthly EMI Hypothecation of Vehicle acquired out of
Loan
13.59% 33,500.00
Standard Chartered Bank Repayble in 211 Monthly EMI Mortgage of Immovable Properties of the
Company at DLF,Pinnacle & DLF Courtyard
and the Personal Guarantee of the Directors
12.00% 84,239.00
Standard Chartered Bank Repayble in 187 Monthly EMI Mortgage of Immovable Properties of the
Company at DLF,Pinnacle & DLF Courtyard
and the Personal Guarantee of the Directors
12.50% 293,474.00
Standard Chartered Bank Repayble in 120 Monthly EMI Mortgage of Immovable Properties of the
Company at DLF,Pinnacle & DLF Courtyard
and the Personal Guarantee of the Directors
BR+2.75% 410,124.00
Union Bank of India Repayble in 60 Monthly
Installments and Interest
Payable Monthly
First Pari Passu charge over fxed assets of
the company except vehicles & immovable
properties of the company specifcally
mortgage to other lenders.The same is
also secured by 2
nd
Pari Passu charge over
the current assets of the company and the
personal guarantee of the directors and
corporate guarantee & mortgage of Land
and Building of another Company.
BR+4.25% 5,275,000.00
Kotak Mahindra Bank Repayble in 68 Monthly EMI Mortgage of Immovable Properties of the
Company at Digital Green, Gurgaon and
the Personal Guarantee of the Directors
RR-4.30% 665,535.00
Kotak Mahindra Bank Repayble in 120 Monthly EMI Mortgage of Personal Property of wife of
Director and the Personal Guarantee of the
Directors
RR+2.50% 617,359.00
Kotak Mahindra Bank Repayble in 72 Monthly EMI Mortgage of Personal Property of wife of
Director & Director’s HUF and the Personal
Guarantee of the Directors
BR+4.75% 3,131,164.00
Indiabulls Housing
Finance Ltd.
Repayble in 84 Monthly EMI Mortgage of Immovable Properties of the
Company at Mohali and the Personal
Guarantee of the Directors
IHFL-6.05% 441,308.00
Tata Capital Financial
Services Limited
Repayble in 36 Monthly EMI Hypothecation of Vehicle acquired out of
Loan
LTLR-4.60% 25,320.00
Tata Capital Financial
Services Limited
Repayble in 48 Monthly
Installments and Interest
Payable Monthly
Hypothecation of Equipments and First Pari
Passu charge over Immovable peroperty
of the Company situated at Haridwar and
Personal Guarantee of the Directors
LTLR-4.60% 375,000.00
State Bank of India Repayble in 12 Monthly
Installments of Rs.17 Lac,12
Monthly Installments of
Rs..33 Lac and 6 Monthly
Installmnets of Rs..67 Lac
during the F.Y. 2013-14,2014-
15 and 2015-16 respectively
and Interest Payable Monthly
First Pari Passu charge over fxed
assets of the company except vehicles
& immovable properties of the company
situated at Ghaziabad,Haridwar and
others immovable properties specifcally
mortgage to other lenders.The same is
also secured by the personal guarantee of
the directors.
BR+3.75% -
ICICI Bank Repayble in 120 Monthly EMI Mortgage of Personal Property of Directors
and the Personal Guarantee of the Directors
BR+2.50% 935,604.00
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
18 30th Annual Report 2012-2013
Note 6 Other long-term liabilities
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Trade Payables:
(i) Other than Acceptances 313,400.00 415,475.00
(b) Others:
(i) Trade / security deposits received 510,000.00 510,000.00
Total 823,400.00 925,475.00
Note 7 Long-term provisions
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Provision for employee benefts:
(i) Provision for gratuity (net) (Refer Note 26) 6,557,135.00 5,655,170.00
(ii) Provision for other employee benefts (Leave Encashment) (Refer Note 26) 3,755,787.00 2,919,862.00
10,312,922.00 8,575,032.00
(b) Provision - Others:
(i) Provision for other contingencies (Refer Note 31) 6,000,000.00 6,000,000.00
6,000,000.00 6,000,000.00
Total 16,312,922.00 14,575,032.00
Note 8 Short-term borrowings
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Loans repayable on demand
From banks
Secured 249,820,308.08 288,739,858.39
Unsecured 1,655,149.00 38,854,784.00
251,475,457.08 327,594,642.39
(b) Loans and advances from related parties
Unsecured 64,484,767.68 25,985,902.00
64,484,767.68 25,985,902.00
Total 315,960,224.76 353,580,544.39
Notes:
Details of Security and terms against the Short Term Borrowings from Banks
Particulars Security Rate of Interest
State Bank of India First Pari Passu charge over Current assets of the company and 2
nd
parri passu charge over the fxed
assets of the company except vehicles & immovable properties of the company specifcally mortage to
other lenders.The same is also secured by way of mortagage of personal property of the Director and
the Personal Guarantee of the Directors.
BR+3.75%
Kotak Mahindra Bank First Pari Passu charge over Current assets of the company and 2
nd
parri passu charge over the fxed
assets of the company except vehicles & immovable properties of the company specifcally mortage to
other lenders.The same is also secured by way of mortagage of personal property of the Director and
the Personal Guarantee of the Directors.
BR+3.25%
Punjab National Bank First Pari Passu charge over Current assets of the company and 2
nd
parri passu charge over the fxed
assets of the company except vehicles & immovable properties of the company specifcally mortage to
other lenders.The same is also secured by way of mortagage of personal property of the Director and
the Personal Guarantee of the Directors.
BR+3.25%
Central Bank of India Mortagage of personal property of the Directors and the Personal Guarantee of the Directors. BR+3.50%
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
19 30th Annual Report 2012-2013
Details of terms and conditions Short Term Borrowings received from Related parties
Name of Party Terms of Repayment Rate of Interest
H.S.Gupta Payable on demand 12%
Ashok Gupta Payable on demand 12%
Adit Gupta Payable on demand 12%
Ashoka Productions & Communications (P) Ltd. Payable on demand 12%
Note 9 Trade payables
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Trade payables:
Other than Acceptances 317,625,390.36 230,353,091.88
Total 317,625,390.36 230,353,091.88
Note 10 Other current liabilities
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Current maturities of long-term debt (Refer Note (i) below) 122,284,788.25 135,128,849.39
(b) Other payables
(i) Statutory remittances (Contributions to PF and ESIC, Withholding Taxes, Excise Duty, VAT,
Service Tax, etc.)
4,048,668.88 5,576,610.73
(ii) Interest payable 274,802.84 -
(iii) Advances from customers 2,673,923.31 2,635,275.35
(iv) Others (Expenses Payable) 18,856,223.23 28,990,566.10
Total 148,138,406.51 172,331,301.57
Note (i): Current maturities of long-term debt (Refer Notes in Note 5 - Long-term borrowings for details of security and guarantee):
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Term loans
From banks
Secured 114,886,235.02 131,800,653.00
114,886,235.02 131,800,653.00
From other parties
Secured 7,398,553.23 3,328,196.39
7,398,553.23 3,328,196.39
Total 122,284,788.25 135,128,849.39
Note 11 Short-term provisions
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Provision for employee benefts:
(i) Provision for bonus 2,853,610.00 2,815,448.00
2,853,610.00 2,815,448.00
(b) Provision - Others:
(i) Provision for tax (net of advance tax Rs.98,48,247.30
(As at 31 March, 2012 Rs.2,40,55,788.00))
1,856,752.70 8,944,212.00
(ii) Provision for proposed equity dividend 17,250,074.00 19,166,749.00
(iii) Provision for tax on proposed dividends 2,798,394.00 3,109,326.00
(iv) Other Current Liabilities :-
(a) Forward Contract Payable 4,110,434.36 113,751,827.70
(b) Deferred Forward Premium 301,569.51 3,564,592.18
(c) Wealth Tax Payable 62,000.00 75,000.00
26,379,224.57 148,611,706.88
Total 29,232,834.57 151,427,154.88
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
20 30th Annual Report 2012-2013
Note 12 :Fixed Assets
GROSS BLOCK ACCUMULATED DEPRECIATION NET BLOCK
Balance as at
1 April, 2012
Additions Disposals Balance as at
31st March,
2013
Balance as at
1 April, 2012
Depreciation
Charge for
the year
On
Diposals
Balance as at
31st March,
2013
Balance as at
31st March,
2013
Balance as at
31st March,
2012
Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs.
(i) Tangible Assets
(a) Land 161,200,632.47 - - 161,200,632.47 - - - - 161,200,632.47 161,200,632.47
(b) Buildings 99,209,252.00 2,882,397.01 - 102,091,649.01 15,577,159.30 3,297,278.00 - 18,874,437.30 83,217,211.71 83,632,092.70
(c) Plant and Equipments 964,618,285.79 93,554,632.50 22,000.00 1,058,150,918.29 384,176,665.40 75,558,829.00 6,482.00 459,729,012.40 598,421,905.89 580,441,620.39
(d) Furniture and Fixtures 20,261,588.59 539,830.00 - 20,801,418.59 7,049,861.33 1,257,971.00 - 8,307,832.33 12,493,586.26 13,211,727.26
(e) Vehicles 23,629,947.15 0.00 760,468.00 22,869,479.15 11,856,648.91 2,047,571.72 718,260.29 13,185,960.34 9,683,518.81 11,773,298.25
(f) Offce equipment 11,741,762.49 252,972.00 - 11,994,734.49 8,367,222.33 262,702.00 - 8,629,924.33 3,364,810.16 3,374,540.16
Total 1,280,661,468.49 97,229,831.51 782,468.00 1,377,108,832.00 427,027,557.27 82,424,351.72 724,742.29 508,727,166.70 868,381,665.30 853,633,911.23
Previous Year 1,272,729,387.59 17,753,665.00 9,821,584.10 1,280,661,468.49 354,835,403.06 75,985,895.34 3,793,741.13 427,027,557.27 853,633,911.22 917,893,984.53
(ii) Intangible Assets
(a) Computer software 2,254,905.00 13,965.00 - 2,268,870.00 1,012,234.00 365,520.00 - 1,377,754.00 891,116.00 1,242,671.00
Total 2,254,905.00 13,965.00 - 2,268,870.00 1,012,234.00 365,520.00 - 1,377,754.00 891,116.00 1,242,671.00
Previous Year 1,465,100.00 789,805.00 - 2,254,905.00 744,658.00 267,576.00 - 1,012,234.00 1,242,671.00 720,442.00
(iii) Capital Work in Progress - 7,836,529.00 - 7,836,529.00 - - - - 7,836,529.00 -
Total - 7,836,529.00 - 7,836,529.00 - - - - 7,836,529.00 -
Previous Year - - - - - - - - - -
Grand Total 1,282,916,373.49 105,080,325.51 782,468.00 1,387,214,231.00 428,039,791.27 82,789,871.72 724,742.29 510,104,920.70 877,109,310.30 854,876,582.22
Previous Year 1,274,194,487.59 18,543,470.00 9,821,584.10 1,282,916,373.49 355,580,061.06 76,253,471.34 3,793,741.13 428,039,791.27 854,876,582.22 918,614,426.53
Note : Capital work in progress reperesnt the amount paid for electrical appliances,equipments, furniture & fxtures etc. during the construction period of the premises taken on rent.However no rent has been
paid during the current fnancial year.
Note 13 Non-current investments
Particulars As at 31st March, 2013 As at 31st March, 2012
Quoted Unquoted Total Quoted Unquoted Total
Rs. Rs. Rs. Rs. Rs. Rs.
Investments (At cost):
A. Trade
(a) Investment in equity instruments
(i) of subsidiaries - 52,000,000.00 52,000,000.00 - 52,000,000.00 52,000,000.00
52,00,000 (As at 31 March, 2012: 52,00,000)
Equity Shares of Rs.10 each fully paid up in
AMD Estates & Developers (P) Limited
- 52,000,000.00 52,000,000.00 - 52,000,000.00 52,000,000.00
Total - Trade (A) - 52,000,000.00 52,000,000.00 52,000,000.00 52,000,000.00
B. Other investments
(a) Investment in equity instruments
(i) of other STL Global Limited (50000 Equity
Shares fully paid up)
138,500.00 - 138,500.00 3,321,885.69 - 3,321,885.69
138,500.00 - 138,500.00 3,321,885.69 - 3,321,885.69
(b) Investment in mutual funds
(i) SBI One India Fund - Dividend 100,000.00 100,000.00 100,000.00 100,000.00
(10000 Units at Rs.10 Each)
(ii) SBI Infrastructure Fund - I - Growth 100,000.00 100,000.00 100,000.00 100,000.00
(10000 Units at Rs.10 Each)
(iii) Union KBC Equity Fund Growth 500,000.00 500,000.00 500,000.00 500,000.00
(50000 Units at Rs.10 Each)
700,000.00 700,000.00 700,000.00 700,000.00
Total - Other investments (B) 838,500.00 838,500.00 4,021,885.69 4,021,885.69
Total (A+B) 838,500.00 52,000,000.00 52,838,500.00 4,021,885.69 52,000,000.00 56,021,885.69
Less: Provision for diminution in value of
investments 5,001.58 36,300.00
Total 52,833,498.42 55,985,585.69
Aggregate amount of quoted investments 838,500.00 4,021,885.69
Aggregate amount of unquoted investments 52,000,000.00 52,000,000.00
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
21 30th Annual Report 2012-2013
Note 14 Long-term loans and advances
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Capital advances
Unsecured, considered good 117,933,103.92 131,434,437.00
117,933,103.92 131,434,437.00
(b) Security deposits
Unsecured, considered good 21,351,211.00 16,693,811.00
21,351,211.00 16,693,811.00
(c) Loan and advances to related parties (Refer Note 14(i) below)
Unsecured, considered good 325,000,000.00 325,000,000.00
325,000,000.00 325,000,000.00
(d) Other Loans and Advances
(i) Prepaid expenses - Unsecured, considered good 57,700.00 104,000.00
57,700.00 104,000.00
(ii) Advances to suppliers
Unsecured, considered good 1,460,527.00 440,237.00
1,460,527.00 440,237.00
(iii) Advances recoverable in cash or kind
Unsecured, considered good 9,177,874.00 4,136,962.00
9,177,874.00 4,136,962.00
Total 474,980,415.92 477,809,447.00
Note 14(i)
Loan and Advances to related parties represents advance to its subsidiary AMD Estates & Developers (P) Limited against sharing of revenue in Commercial
Project of the said Subsidiary Company at Gurgaon.
Note 15 Inventories
(At lower of cost and net realisable value)
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Raw materials 331,595,578.00 215,381,180.01
Goods-in-transit 42,889,196.00 24,724,168.00
374,484,774.00 240,105,348.01
(b) Work-in-progress (Refer Note below) 38,923,900.00 17,974,600.00
38,923,900.00 17,974,600.00
(c) Finished goods (other than those acquired for trading) 71,726,900.00 33,677,400.00
71,726,900.00 33,677,400.00
(d) Stock-in-trade (acquired for trading) - 2,300.00
- 2,300.00
(e) Stores and spares 28,013,386.00 23,064,006.00
28,013,386.00 23,064,006.00
(f) Others - Packing Materials 11,044,484.00 4,334,531.00
11,044,484.00 4,334,531.00
(g) Others - Waste & Scrap 9,385,364.00 6,187,689.00
9,385,364.00 6,187,689.00
(g) Others - Real Estates 44,181,401.93 44,181,401.93
44,181,401.93 44,181,401.93
Total 577,760,209.93 369,527,275.94
Note: Details of inventory of work-in-progress
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
22 30th Annual Report 2012-2013
Note 16 Trade receivables
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Trade receivables outstanding for a period exceeding six months
Unsecured, considered good 16,105,011.29 17,298,634.03
Doubtful 1,596,709.00 1,592,552.00
17,701,720.29 18,891,186.03
Less : Provision for Doubtful trade receivables 320,000.00 -
17,381,720.29 18,891,186.03
Other Trade receivables
Unsecured, considered good 291,792,603.47 346,913,691.12
291,792,603.47 346,913,691.12
Total 309,174,323.76 365,804,877.15
Note 17 Cash and cash equivalents
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Cash on hand 76,291.05 88,120.80
(b) Balances with banks
(i) In current accounts 731,514.98 7,611,895.82
(ii) In EEFC accounts 310,044.58 583,515.10
(iii) Balances held as margin money or security 40,109,759.00 33,802,504.00
against borrowings, guarantees and other commitments
(c) Others - Foreign Currency in Hand 186,555.30 144,388.00
Total 41,414,164.91 42,230,423.72
Note 18 Short-term loans and advances
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Loans and advances to employees
Unsecured, considered good 667,568.00 641,533.00
667,568.00 641,533.00
(b) Loans and advances to related parties (Refer Note 18 (i) below)
Unsecured, considered good 56,464,201.00 47,584,398.00
56,464,201.00 47,584,398.00
(c) Prepaid expenses - Unsecured, considered good 4,910,520.00 2,182,620.40
4,910,520.00 2,182,620.40
(d) Balances with government authorities
Unsecured, considered good
(i) CENVAT credit receivable 119,150,277.78 82,110,308.44
(ii) VAT credit receivable 9,950,773.00 2,808,364.00
(iii) Service Tax credit receivable 13,771,363.61 24,486,255.38
142,872,414.39 109,404,927.82
(e) Others (Advances to Suppliers))
Unsecured, considered good 30,045,590.54 5,120,568.57
30,045,590.54 5,120,568.57
Total 234,960,293.93 164,934,047.79
Note: 18 (i) Loans and Advances to related parties represents the loan given to Subsidiary Company AMD Estate & Developers (P) Limited without any specifc
repayment schedule.
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Pet Preform
CSD Closures 3,645,200.00 4,302,600.00
Crown Caps 13,560,400.00 3,500,200.00
Job Work (Pet Preform) 21,718,300.00 10,171,800.00
38,923,900.00 17,974,600.00
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
23 30th Annual Report 2012-2013
Note 19 Other current assets
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Accruals
(i) Interest accrued on deposits 1,251,390.72 1,422,543.90
(b) Others
(i) Others - (i) Forward Contract Receivables 5,060,172.56 111,277,384.15
(ii) Exports Incentive Receivables 3,556,985.84 5,095,545.06
Total 9,868,549.12 117,795,473.11
Note 20 Revenue from operations
Particulars For the year ended
31st March, 2013
Rs.
“For the year ended
31st March, 2012
Rs.
(a) Sale of products (Refer Note (i) below) 1,500,529,172.93 1,746,847,489.25
(b) Sale of services (Refer Note (ii) below) 319,624,603.00 237,740,383.51
(c) Other operating revenues (Refer Note (iii) below) 32,021,585.00 55,762,909.21
1,852,175,360.93 2,040,350,781.97
Less:
(d) Excise duty 282,738,787.00 220,273,280.00
Total 1,569,436,573.93 1,820,077,501.97
Note Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(i) Sale of products comprises:
Manufactured goods
Crown Caps 559,156,884.73 796,862,252.00
CSD Closures 445,391,260.72 403,100,890.21
Pet - Preforms 495,865,212.48 546,576,913.04
Others
Total - Sale of manufactured goods 1,500,413,357.93 1,746,540,055.25
Traded goods
Others 115,815.00 307,434.00
Total - Sale of traded goods 115,815.00 307,434.00
Total - Sale of products 1,500,529,172.93 1,746,847,489.25
(ii) Sale of services comprises :
Jobwork - Pet Preform 319,624,603.00 237,740,383.51
Total - Sale of services 319,624,603.00 237,740,383.51
(iii) Other operating revenues comprise:
Sale of scrap 19,994,351.00 28,645,223.57
Duty drawback and other export incentives 5,401,168.00 18,921,121.00
Others - Discount on Purchase 6,626,066.00 8,196,564.64
Total - Other operating revenues 32,021,585.00 55,762,909.21
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
24 30th Annual Report 2012-2013
Note 21 Other income
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(a) Interest income (Refer Note (i) below) 10,014,145.64 4,891,094.41
(b) Dividend income:
others 14,450.98 18,900.00
(c) Other non-operating income (Refer Note (ii) below) 3,171,514.46 1,996,705.92
Total 13,200,111.08 6,906,700.33
Note Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(i) Interest income comprises:
Interest from banks on:
deposits 2,315,695.82 2,769,140.11
Interest on loans and advances 333,017.00 960,736.30
Interest on overdue trade receivables 1,975,894.82 (1,384,981.00)
Interest income from Short term loans and advances to
subsidiaries 5,389,538.00 2,546,199.00
Total - Interest income 10,014,145.64 4,891,094.41
(ii) Other non-operating income comprises:
Rental Income 2,040,000.00 1,680,806.00
Miscellaneous income 1,131,514.46 315,899.92
Total - Other non-operating income 3,171,514.46 1,996,705.92
Note 22.a Cost of materials consumed
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Opening stock 240,105,348.01 309,186,960.00
Add: Purchases 1,100,593,034.62 951,256,305.00
1,340,698,382.63 1,260,443,265.00
Less: Closing stock 374,484,774.00 240,105,348.01
Cost of material consumed 966,213,608.63 1,020,337,916.99
Material consumed comprises:
Tin Free Sheets 246,396,118.09 354,248,609.00
Polypropylene 223,366,058.57 168,509,861.00
Resin 350,780,901.18 341,512,408.00
Other items (includes Lining Compund, Lacquer, PVC etc.) 145,670,530.79 156,067,038.99
Total 966,213,608.63 1,020,337,916.99
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
25 30th Annual Report 2012-2013
Note 22.b Purchase of traded goods
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Traded good - Real Estates - DLF Pinnacle - 247,826.00
Traded good - Real Estates - DLF Courtyard - 1,706,714.00
Others 30,923.00 91,192.50
Total 30,923.00 2,045,732.50
Note 22.c Changes in inventories of fnished goods, work-in-progress and stock-in-trade
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Inventories at the end of the year:
Finished goods 71,726,900.00 33,677,400.00
Work-in-progress 38,923,900.00 17,974,600.00
Stock-in-trade - Real Estates 44,181,401.93 44,181,401.93
Stock-in-trade -Waste & Scrap 9,385,364.00 6,187,689.00
Stock-in-trade - Trading Goods - 2,300.00
164,217,565.93 102,023,390.93
Inventories at the beginning of the year:
Finished goods 33,677,400.00 89,198,690.00
Work-in-progress 17,974,600.00 22,414,100.00
Stock-in-Trade - Real Estates 44,181,401.93 42,226,861.93
Stock-in-trade -Waste & Scrap 6,187,689.00 5,582,599.00
Stock-in-trade - Trading Goods 2,300.00 2,300.00
102,023,390.93 159,424,550.93
Net (increase) / decrease (62,194,175.00) 57,401,160.00
Note 23 Employee benefts expense
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Salaries and wages 107,659,001.87 110,438,900.00
Contributions to provident and other funds 2,586,739.00 2,462,980.40
Staff welfare expenses 1,748,359.00 1,505,132.00
Total 111,994,099.87 114,407,012.40
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
26 30th Annual Report 2012-2013
Note 24 Finance costs
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(a) Interest expense on:
(i) Borrowings 88,727,138.46 93,306,835.60
(ii) Trade payables 7,613,629.34 7,916,169.21
(b) Other borrowing costs - Processing Fees 4,691,632.00 2,299,852.73
(c) Net (gain) / loss on foreign currency transactions - 3,822,726.75
Total 101,032,399.80 107,345,584.29
Note 25 Other expenses
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Business promotion 730,224.70 755,084.41
Communication 3,086,750.20 2,792,601.57
Consumption of stores and spare parts 6,302,123.85 6,680,405.20
Consumption of packing materials 52,713,779.54 50,071,993.82
Commission Paid 41,012,391.00 49,723,901.35
Donations and contributions 789,610.00 103,100.00
Freight and forwarding 37,017,944.25 46,369,461.66
Legal and professional 8,728,074.03 5,710,322.89
Net loss on foreign currency transactions (other than considered as fnance cost) (8,377,000.03) 25,070,748.89
Auditors Remuneration (Refer Note 25 (i) below) 767,200.00 752,500.00
Printing and stationery 1,141,732.00 1,337,467.00
Power and fuel 123,406,200.00 98,125,198.00
Insurance 5,637,125.20 3,848,442.14
Rates and taxes 1,573,295.00 1,097,919.00
Rent 27,958,641.50 19,889,408.81
Repairs and maintenance - Buildings 3,438,130.00 3,842,222.50
Repairs and maintenance - Machinery 9,828,194.94 13,866,022.75
Repairs and maintenance - Others 2,915,761.94 4,122,190.43
Sales discount 4,676,520.65 9,238,892.72
Travelling and conveyance 14,660,667.03 13,442,077.86
Water 100,039.00 120,385.00
“Permanent dimunition in the carrying amount of long term investments
(other than subsidiaries)”
3,152,087.27 38,300.00
Provision for doubtful trade receivables 320,000.00 -
Miscellaneous expenses 18,583,727.52 12,649,320.50
Total 360,163,219.59 369,647,966.50
Notes: 25 (i) Auditors Remuneration includes:
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(i) Payments to the auditors comprises (net of service tax input credit, where applicable):
As auditors - statutory audit 520,000.00 520,000.00
For taxation audit fees 130,000.00 130,000.00
For taxation matters 35,000.00 62,000.00
For other services 82,200.00 40,500.00
Total 767,200.00 752,500.00
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
27 30th Annual Report 2012-2013
Note 26 Disclosures under Accounting Standards (contd.)
Employee beneft plans
Defned beneft plans
The Company offers the following employee beneft schemes to its employees:
i. Gratuity
ii. Other defned beneft plans (Leave Encashment)
The following table schemes and the amount recognised in the fnancial statements:
Rs.
Particulars For the year ended
31st March, 2013
For the year ended
31st March, 2012
Gratuity Other defned
beneft plans (Leave
Encashment)
Gratuity Other defned
beneft plans (Leave
Encahsment)
Components of employer expense
Current service cost 1,197,064.00 932,996.00 1,038,230.00 874,831.00
Interest cost 486,345.00 251,108.00 372,317.00 178,060.00
Curtailment cost / (credit) - (224,362.00) - -
Past service cost - 500,772.00 - -
Actuarial losses/(gains) 639,579.00 426,442.00 201,270.00 170,731.00
Total expense recognised in the Statement of Proft and Loss 2,322,988.00 1,886,956.00 1,611,817.00 1,223,622.00
Actual contribution and beneft payments for year
Actual beneft payments (1,421,023.00) (1,051,031.00) (610,615.00) (529,507.00)
Actual contributions
Net asset / (liability) recognised in the Balance Sheet
Present value of defned beneft obligation 5,655,170.00 2,919,862.00 4,653,968.00 2,225,747.00
Funded status [Surplus / (Defcit)] 901,965.00 835,925.00 1,001,202.00 694,115.00
Net asset / (liability) recognised in the Balance Sheet 6,557,135.00 3,755,787.00 5,655,170.00 2,919,862.00
Note 26 Disclosures under Accounting Standards (contd.)
Rs.
Particulars For the year ended
31st March, 2013
For the year ended
31st March, 2012
Gratuity Other defned
beneft
plans (Leave
Encashment)
Gratuity Other defned
beneft
plans (Leave
Encahsment)
Change in defned beneft obligations (DBO) during the year
Present value of DBO at beginning of the year 5,655,170.00 2,919,862.00 4,653,968.00 2,225,747.00
Current service cost 1,197,064.00 932,996.00 1,038,230.00 874,831.00
Interest cost 486,345.00 251,108.00 372,317.00 178,060.00
Curtailment cost / (credit) - (224,362.00) -
Actuarial (gains) / losses 639,579.00 426,442.00 201,270.00 170,731.00
Past service cost - 500,772.00 - -
Benefts paid (1,421,023.00) (1,051,031.00) (610,615.00) (529,507.00)
Present value of DBO at the end of the year 6,557,135.00 3,755,787.00 5,655,170.00 2,919,862.00
Actuarial assumptions
Discount rate 8.00% 8.00% 8.60% 8.60%
Salary escalation 7.50% 7.50% 7.50% 7.50%
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
28 30th Annual Report 2012-2013
Note 27 Disclosures under Accounting Standards (contd.)
Particulars
Segment information
The Company has identifed business segments as its primary segment and geographic segments as its secondary segment. Business segments are primarily
Packaging,Textile and Real Estate. Revenues and expenses directly attributable to segments are reported under each reportable segment. Expenses which
are not directly identifable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. Assets
and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. Fixed assets that are used interchangeably
amongst segments are not allocated to primary and secondary segments. Geographical revenues are allocated based on the location of the customer. Geographic
segments of the Company are India and Others.
Particulars “For the year ended
31st March, 2013”
Business segments Total
PACKAGING TEXTILE REAL ESTATE Eliminations
Rs. Rs. Rs. Rs. Rs.
Revenue 1,569,436,573.93 - - - 1,569,436,573.93
(1,820,077,501.97) (-) (-) (-) (1,820,077,501.97)
Inter-segment revenue - - - - -
(-) (-) (-) (-) (-)
Total 1,569,436,573.93 - - - 1,569,436,573.93
(1,820,077,501.97) (-) (-) (-) (1,820,077,501.97)
Segment result 20,006,772.96 -2316310.30 -8,275,062.05 - 9,415,400.61
(101,249,718.79) (-) (-4467523.81) (-) (96,782,194.98)
Unallocable expenses (net) -
(-)
Operating income 9,415,400.61
(96,782,194.98)
Other income (net) 13,200,111.08
(6,906,700.33)
Proft before taxes 22,615,511.69
(103,688,895.31)
Tax expense 6,712,482.00
(38,657,144.00)
Net proft for the year 15,903,029.69
(65,031,751.31)
Note 27 Disclosures under Accounting Standards (contd.)
Particulars For the year ended
31st March, 2013
Business segments Total
PACKAGING TEXTILE REAL ESTATE
Rs. Rs. Rs. Rs.
Segment assets 1,948,705,065.89 151,750,097.47 477,645,602.93 2,578,100,766.29
(1,806,284,712.23) (173,913,200.47) (468,765,799.93) (2,448,963,712.63)
Unallocable assets - - - -
(-) (-) (-) (-)
Total assets 1,948,705,065.89 151,750,097.47 477,645,602.93 2,578,100,766.29
(1,806,284,712.23) (173,913,200.47) (468,765,799.93) (2,448,963,712.63)
Segment liabilities 2,549,844,069.38 - 28,256,696.91 2,578,100,766.29
(2,419,870,205.29) (-) (29,093,507.34) (2,448,963,712.63)
Unallocable liabilities - - - -
(-) (-) (-) (-)
Total liabilities 2,549,844,069.38 - 28,256,696.91 2,578,100,766.29
(2,419,870,205.29) (-) (29,093,507.34) (2,448,963,712.63)
Other information
Capital expenditure (allocable) 105,080,325.51 - - 105,080,325.51
(18,543,470.00) (-) (-) (18,543,470.00)
Depreciation and amortisation (allocable) 82,789,871.72 - - 82,789,871.72
(76,253,471.34) (-) (-) (76,253,471.34)
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
29 30th Annual Report 2012-2013
Note 27 Disclosures under Accounting Standards (contd.)
Particulars
The geographic segments individually contributing 10 percent or more of the Company’s revenues and segment assets are shown separately:
Geographic Segment Revenues
For the
year ended
31 March, 2013
Rs.
Segment assets
As at
31 March,
2013
Rs.
Capital expenditure
incurred during the
year ended
31 March, 2013
Rs.
India 1,441,009,883.41 2,578,100,766.29 -
(1,470,637,593.76) (2,448,963,712.63) (-)
Others 128,426,690.52 - -
(349,439,908.21) (-) (-)
Note: Figures in bracket relates to the previous year
Note 28 Related Party disclosure
As required by Accounting Standard - 18, “Related Party Disclosures” issued by the Institute of Chartered Accountants of India, relevant information is provided
here below:
28.1 Related parties with whom transactions have taken place during the year:
Name Relationship
Sh. H S Gupta Key Managerial Personnnel
Sh. Ashok Gupta Key Managerial Personnnel
Sh. Adit Gupta Key Managerial Personnnel
Mrs. Chitra Gupta Key Managerial Personnnel’s relative
Ms. Vidhi Gupta Key Managerial Personnnel’s relative
Ms. Mamta Gupta Key Managerial Personnnel’s relative
Ashoka Productions and Communications (P) Limited Company in which KMP / Relatives of KMP can exercise signifcant
infuence
Kadam Trees Properties (P) Limited Company in which KMP / Relatives of KMP can exercise signifcant
infuence
AMD Estates & Developers Private Limited Subsidiary Company
28.2 Followings are the details of the transactions with the related party:
Nature of transaction Related Parties Amount in Rs.
Salaries, Allowance & Perquisites Key Managerial Personnnel 21,682,363.00
(30,129,744.00)
Salaries, Allowance & Perquisites Key Managerial Personnnel’s relative 2,303,400.00
(2,319,900.00)
Rent Paid Company in which KMP / Relatives of KMP can exercise signifcant infuence 3,960,000.00
(1,380,000.00)
Rent Paid Key Managerial Personnnel 9,729,000.00
(9,729,000.00)
Rent Paid Key Managerial Personnnel’s relative 1,380,000.00
(1,380,000.00)
Interest paid Company in which KMP / Relatives of KMP can exercise signifcant infuence 2,015,384.68
(4,773,121.00)
Interest paid Key Managerial Personnnel 2,756,996.00
(1,839,798.00)
Interest Income Subsidiary Company 5,389,538.00
(2,546,199.00)
Repayment of Unsecured Loans Key Managerial Personnnel 4,971,977.00
(21,059,848.00)
Repayment of Unsecured Loans Company in which KMP / Relatives of KMP can exercise signifcant infuence 701,538.00
(34,477,312.00)
Unsecured Loans Received Key Managerial Personnnel 42,156,996.00
(19,589,798.00)
Unsecured Loans Received Company in which KMP / Relatives of KMP can exercise signifcant infuence 2,015,384.68
(6,773,121.00)
Loans & Advance given to subsidiary Subsidiary Company 49,179,803.00
(58,427,002.00)
Loans & Advance received back from
subsidiary
Subsidiary Company 40,300,000.00
(80,129,689.17)
Refund of Security provided against rent of
guest house
Company in which KMP / Relatives of KMP can exercise signifcant infuence -
(11,450,000.00)
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
30 30th Annual Report 2012-2013
28.3 Disclosure of Material Transactions:
Particulars Current Year Previous Year
Salaries, Allowance & Perquisite
Sh. H S Gupta ( Chairman) 7,317,954.00 10,045,156.00
Sh. Ashok Gupta ( Managing Director) 7,515,575.00 10,044,988.00
Sh. Adit Gupta ( Joint Managing Director) 6,848,834.00 10,039,600.00
Salaries, Allowance & Perquisite
Ms. Vidhi Gupta 1,151,700.00 1,151,700.00
Ms. Mamta Gupta 1,151,700.00 1,168,200.00
Rent Paid
Kadam Trees Properties (P) Limited 3,960,000.00 1,380,000.00
Sh. Ashok Gupta ( Managing Director) 1,035,000.00 1,035,000.00
Sh. Adit Gupta ( Joint Managing Director) 8,694,000.00 8,694,000.00
Mrs. Chitra Gupta 1,380,000.00 1,380,000.00
Interest Paid
Ashoka Productions and Communications (P) Limited 2,015,384.68 4,773,121.00
Sh. H S Gupta ( Chairman) 1,204,129.00 685,532.00
Sh. Ashok Gupta ( Managing Director) 966,309.00 762,984.00
Sh. Adit Gupta ( Joint Managing Director) 586,558.00 391,282.00
Interest Income
AMD Estates & Developers Private Limited 5,389,538.00 2,546,199.00
Repayment of Unsecured Loans
Ashoka Productions and Communications (P) Limited 701,538.00 34,477,312.00
Sh. H S Gupta ( Chairman) 737,392.00 68,553.00
Sh. Ashok Gupta ( Managing Director) 3,823,775.00 14,952,167.00
Sh. Adit Gupta ( Joint Managing Director) 410,810.00 6,039,128.00
Unsecured Loans Received
Ashoka Productions and Communications (P) Limited 2,015,384.68 6,773,121.00
Sh. H S Gupta ( Chairman) 7,604,129.00 685,532.00
Sh. Ashok Gupta ( Managing Director) 26,966,309.00 16,012,984.00
Sh. Adit Gupta ( Joint Managing Director) 7,586,558.00 2,891,282.00
Loans & Advance Given to Subsidiary
AMD Estates & Developers Private Limited 49,179,803.00 58,427,002.00
Loans & Advance received back from Subsidiary
AMD Estates & Developers Private Limited 40,300,000.00 80,129,689.17
Refund of Security provided against rent of guest house
Kadam Trees Properties (P) Limited - 11,450,000.00
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
31 30th Annual Report 2012-2013
Note 29 Disclosures under Accounting Standards (contd.)
Basic and diluted earnings per share are calculated by dividing the net proft or loss for the year attributable to equity shareholders by the weighted average
number of equity shares outstanding during the year. The company has not issued any potential equity shares, accordingly, basic and diluted earning per share
are the same.
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Earnings per share
(a) Proft after taxation and exceptional items 15,903,029.69 65,031,751.31
(b) Weighted average number of shares outstanding during the year 19,166,749.00 19,166,749.00
(c) Nominal Value per Share 10.00 10.00
(d) Basic and Diluted earning per share 0.83 3.39
Note 30 Disclosures under Accounting Standards (contd.)
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Deferred tax (liability) / asset
Tax effect of items constituting deferred tax liability
On difference between book balance and tax balance of fxed assets 83,674,903.00 90,536,072.00
Tax effect of items constituting deferred tax liability 83,674,903.00 90,536,072.00
Tax effect of items constituting deferred tax assets
Provision for compensated absences, gratuity and other employee benefts 2,127,463.00 2,926,203.00
On items included in Reserves and surplus pending amortisation into the Statement of Proft and Loss - 2,897,656.00
Tax effect of items constituting deferred tax assets 2,127,463.00 5,823,859.00
Net deferred tax (liability) / asset (81,547,440.00) (84,712,213.00)
Note 31 Disclosures under Accounting Standards (contd.)
Particulars
Details of provisions
The Company has made provision for various contractual obligations and disputed liabilities based on its assessment of the amount it estimates to incur to meet
such obligations, details of which are given below:
Particulars As at 1st April,
2012
Additions Utilisation Reversal
(withdrawn
as no longer
required)
As at 31st
March, 2013
Rs. Rs. Rs. Rs. Rs.
Provision for other contingencies:
(i) Sales Tax Demand for the Year 1999-2000 to 2006-2007 4,100,000.00 - - - 4,100,000.00
(4,100,000.00) - - - (4,100,000.00)
(ii) Entry Tax for the Year 2004-2005 and 2005-2006 1,900,000.00 - - - 1,900,000.00
(1,900,000.00) - - - (1,900,000.00)
Total 6,000,000.00 - - - 6,000,000.00
(6,000,000.00) - - - (6,000,000.00)
Note: - Figures in brackets relate to the previous year.
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
32 30th Annual Report 2012-2013
Note 32 Additional information to the fnancial statements
Note
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
32.1 Contingent liabilities and commitments (to the extent not provided for)
(i) Contingent liabilities
(a) Claims against the Company not acknowledged as debt Nil Nil
(b) Guarantees - Corporate Guarantee for Subsidiary Company i.e. AMD
Estates and Developers (P) Limited
230,000,000.00 230,000,000.00
“(c) Other money for which the Company is contingently liable against
pending legal cases”
- Sales Tax Matters 19,510,149.00 19,001,276.00
- Entry Tax Matters 2,285,409.00 2,285,409.00
- Excise Matters 10,425,252.00 1,041,360.00
- Labour Dispute 522,000.00 522,000.00
32,742,810.00 22,850,045.00
32.2 The Company has not received any Memorandum, (as required to be fled by the supplier which are registered with the Notifed Authority under the
provisions of the Micro, Small & Medium Enterprises Development Act, 2006) claiming their status as on 31st March 2013 as Micro, Small and Medium
Enterprise. Consequently, interest paid/payable to these parties during the year is NIL.
32.3 Disclosure as per Clause 32 of the Listing Agreements with the Stock Exchanges
Loans and advances in the nature of loans given to subsidiaries without any specifc repayment schedule:
Name of the party Relationship Amount outstanding
as at 31 March, 2013
Maximum balance
outstanding during
the year
AMD Estates & Developers (P) Limited Subsidiary 56,464,201.00 56,464,201.00
(47,584,398.00) (69,228,085.17)
Note: Figures in bracket relate to the previous year.
Note 32 Additional information to the fnancial statements
Note Particulars
32.4 Details on derivatives instruments and unhedged foreign currency exposures
I. The following derivative positions are open as at 31 March, 2013. These transactions have been undertaken to act as economic hedges for the
Company’s exposures to various risks in foreign exchange markets and may / may not qualify or be designated as hedging instruments.
(a) Forward exchange contracts and options [being derivative instruments], which are not intended for trading or speculative purposes but for hedge
purposes to establish the amount of reporting currency required or available at the settlement date of certain payables and receivables.
(i) Outstanding forward exchange contracts entered into by the Company as on 31 March, 2013
Currency Amount Buy / Sell Cross currency
USD 424,425.68 Buy Rupees
USD (612,877.74) Buy Rupees
USD 500,000.00 Sell Rupees
USD (2,836,482.32) Sell Rupees
Note: Figures in brackets relate to the previous year
II. The year-end foreign currency exposures that have not been hedged by a derivative instrument or otherwise are given below:
As at 31st March, 2013 As at 31st March, 2012
Receivable/
(Payable)
Receivable/ (Payable)
in Foreign currency
Receivable/
(Payable)
Receivable/ (Payable)
in Foreign currency
Rs. (indicate amount with
currency)
Rs. (indicate amount with
currency)
24506774.00 USD 450580.80 Nil Nil
1798628.00 EURO 25863.24 Nil Nil
(111142512.00) (USD 929965.80) (47573795.00) (USD 929965.80)
(1046912.00) (EURO 15054) (14925522.00) (EURO 218400)
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
33 30th Annual Report 2012-2013
Note 32 Additional information to the fnancial statements
Note Particulars
32.5 Value of imports calculated on CIF basis : As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Raw materials 497,543,610.31 490,364,583.95
Spare parts 1,132,590.59 3,342,847.58
Capital goods 67,438,570.50 10,553,037.25
32.6 Expenditure in foreign currency : As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Commission 1,320,248.70 2,605,271.00
Others (Travelling Expenses etc) 3,553,732.00 803,616.36
32.7 Details of consumption of imported and indigenous items For the year ended
31 March, 2013
Rs. %
Imported
Raw materials 392,618,081.31 40.63
(484,283,904.08) (47.46)
Total 392,618,081.31 40.63
(484,283,904.08) (47.46)
Indigenous
Raw materials 573,595,527.32 59.37
(536,054,012.91) (52.54)
Total 573,595,527.32 59.37
(536,054,012.91) (52.54)
Note: Figures / percentages in brackets relates to the previous year
As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
32.8 Earnings in foreign exchange:
Export of goods calculated on FOB basis 128,426,690.52 349,439,908.21
32.9 Dividend
Borad of Directors have proposed Dividend of Rs. 0.90 Per share on Paid up Share capital of 19166749 equity shares. The distribution of the Dividend is
subject to approval by the shareholders.
Note 33 Previous year’s fgures
Previous year’s fgures have been regrouped / reclassifed wherever necessary to correspond with the current year’s classifcation / disclosure.
As per our report of even date attached
For Suresh & Associates For and on behalf of the Board of Directors
FRN No. 003316N
Chartered Accountants
(CA Suresh K. Gupta) (Ashok Gupta) (Adit Gupta)
Partner Managing Director Jt. Managing Director
Membership No.080050 DIN - 00031630 DIN - 00238784
(CA Laxmi Kant) (Joylin Jain)
DGM - Finance & Accounts Company Secretary
Place : New Delhi
Date : 28.05.2013
AMD Industries Limited AMD Industries Limited
34 30th Annual Report 2012-2013
Particulars For the year ended
31st March, 2013
For the year ended
31st March, 2012
Rs. Rs. Rs. Rs.
A. Cash fow from operating activities
Net Proft / (Loss) before extraordinary items and tax 22,615,511.69 103,688,895.31
Adjustments for:
Depreciation and amortisation 82,789,871.72 76,253,471.34
(Proft) / loss on sale / write off of assets (8,774.29) (24,143,537.03)
Finance costs 101,032,399.80 107,345,584.29
Interest income (10,014,145.64) (4,891,094.91)
Dividend income (14,450.98) (18,900.00)
Rental income from investment properties (2,040,000.00) (1,680,806.00)
Adjustments to the carrying amount of investments 3,152,087.27 38,300.00
Net unrealised exchange (gain) / loss (8,037.30) 174,888,950.58 (11,115.15) 152,891,902.54
Operating proft / (loss) before working capital changes 197,504,462.27 256,580,797.85
Changes in working capital:
Adjustments for (increase) / decrease in operating assets:
Inventories (208,232,933.99) 117,078,735.99
Trade receivables 56,630,553.39 (105,919,538.07)
Short-term loans and advances (61,146,443.14) (60,673,402.95)
Long-term loans and advances 2,829,031.08 48,512,568.00
Other current assets 107,926,923.99 77,648,485.55
Adjustments for increase / (decrease) in operating liabilities:
Trade payables 87,272,298.48 (131,913,263.30)
Other current liabilities (24,192,895.06) 18,007,684.44
Other long-term liabilities (102,075.00) 498,449.00
Short-term provisions (112,879,254.01) (56,554,035.86)
Long-term provisions 1,737,890.00 (150,156,904.26) 1,695,317.00 (91,619,000.20)
47,347,558.01 164,961,797.65
Cash fow from extraordinary items - -
Cash generated from operations 47,347,558.01 164,961,797.65
Net income tax (paid) / refunds (16,964,714.30) (25,622,744.12)
30,382,843.71 139,339,053.53
Net cash fow from / (used in) operating activities (A) 30,382,843.71 139,339,053.53
Cash Flow Statement for the year ended 31 March, 2013
B. Cash fow from investing activities
Capital expenditure on fxed assets, including capital advances (105,080,325.50) (18,543,070.00)
Proceeds from sale of fxed assets 66,500.00 30,170,980.00
Inter-corporate deposits (net) 1,313,846.68 (27,704,191.00)
Purchase of long-term investments
- Others - (500,000.00)
Loans given
- Subsidiaries (49,179,803.00) (58,427,002.00)
- Associates 14,617,821.00 (21,059,848.00)
Loans realised
- Subsidiaries 40,300,000.00 80,129,689.17
- Associates 22,567,198.00 19,589,798.00
Interest received
- Subsidiaries 5,389,538.00 2,546,199.00
- Others 4,624,607.64 2,344,895.91
Dividend received
- Others 14,450.98 18,900.00
Rental income from investment properties 2,040,000.00 (63,326,166.20) 1,680,806.00 10,247,157.08
Cash fow from extraordinary items - -
(63,326,166.20) 10,247,157.08
Net cash fow from / (used in) investing activities (B) (63,326,166.20) 10,247,157.08
AMD Industries Limited AMD Industries Limited
35 30th Annual Report 2012-2013
Particulars For the year ended
31st March, 2013
For the year ended
31st March, 2012
Rs. Rs. Rs. Rs.
C. Cash fow from fnancing activities
Proceeds from long-term borrowings 402,371,174.00 9,005,251.90
Repayment of long-term borrowings (170,824,487.51) (140,036,857.39)
Net increase / (decrease) in working capital borrowings (76,119,185.31) 83,069,071.53
Finance cost (101,032,399.80) (107,345,584.29)
Dividends paid (19,166,749.00) (19,166,749.00)
Tax on dividend (3,109,326.00) 32,119,026.38 (3,183,357.00) (177,658,224.25)
Cash fow from extraordinary items - -
32,119,026.38 (177,658,224.25)
Net cash fow from / (used in) fnancing activities (C) 32,119,026.38 (177,658,224.25)
Net increase / (decrease) in Cash and cash equivalents
(A+B+C)
(824,296.11) (28,072,013.64)
Cash and cash equivalents at the beginning of the year 42,230,423.72 70,291,322.21
Effect of exchange differences on restatement of foreign
currency Cash and cash equivalents
8,037.30 11,115.15
Cash and cash equivalents at the end of the year 41,414,164.91 42,230,423.72
Reconciliation of Cash and cash equivalents with the
Balance Sheet:
Cash and cash equivalents as per Balance Sheet (Refer Note 17) 41,414,164.91 42,230,423.72
Less: Bank balances not considered as Cash and cash equivalents
as defned in AS 3 Cash Flow Statements (give details)
- -
Net Cash and cash equivalents (as defned in AS 3 Cash Flow
Statements) included in Note 19
41,414,164.91 42,230,423.72
Add: Current investments considered as part of Cash and cash
equivalents (as defned in AS 3 Cash Flow Statements) (Refer
Note (ii) to Note 16 Current investments)
- -
Cash and cash equivalents at the end of the year * 41,414,164.91 42,230,423.72
* Comprises:
(a) Cash on hand 76,291.05 88,120.80
(b) Balances with banks
(i) In current accounts 731,514.98 7,611,895.82
(ii) In EEFC accounts 310,044.58 583,515.10
(iii) In earmarked accounts (give details) (Refer Note (ii) below) 40,109,759.00 33,802,504.00
(c) Others - Foreign Currency in hand 186,555.30 144,388.00
41,414,164.91 42230423.72
Notes:
(i) The Cash Flow Statement refects the combined cash fows pertaining to continuing and discounting operations.
(ii) These earmarked account balances with banks can be utilised only for the specifc identifed purposes.
Cash Flow Statement for the year ended 31 March, 2013 (Contd.)
As per our report of even date attached
For Suresh & Associates For and on behalf of the Board of Directors
FRN No. 003316N
Chartered Accountants
(CA Suresh K. Gupta) (Ashok Gupta) (Adit Gupta)
Partner Managing Director Jt. Managing Director
Membership No.080050 DIN - 00031630 DIN - 00238784
(CA Laxmi Kant) (Joylin Jain)
DGM - Finance & Accounts Company Secretary
Place : New Delhi
Date : 28.05.2013
AMD Industries Limited (Consolidated) AMD Industries Limited
36 30th Annual Report 2012-2013
AUDITOR’S REPORT TO THE BOARD OF DIRECTORS OF AMD INDUSTRIES LIMITED ON
THE CONSOLIDATED FINANCIAL STATEMENTS OF AMD INDUSTRIES LIMITED
We have examined the attached Consolidated Balance Sheet of AMD Industries Limited and its subsidiaries as at March 31, 2013 and the consolidated Proft and
Loss account for the period then ended.
These Financial Statements are the responsibility of the AMD Industries Limited Management. Our responsibility is to express an opinion on these Financial
Statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards of India. These Standards require that we plan and
perform the audit to obtain reasonable assurance whether the Financial Statements are prepared, in all material respects, in accordance with an identifed fnancial
reporting framework and are free of material misstatements. An audit includes examining on a test basis, evidence supporting the amounts and disclosures in the
Financial Statements. An audit also includes assessing the accounting principles used and signifcant estimates made by management, as well as evaluating the
overall Financial Statements. We believe that our audit provides a reasonable basis for our opinion.
We did not audit the Financial Statements of subsidiaries, whose Financial Statements refect total assets (net) of Rs.75,44,18,765.65 as at March 31, 2013 and total
proft of 4,15,486.90 for the period then ended. These Financial Statements have been audited by other auditors, whose reports have been furnished to us, and our
opinion, insofar as it relates to the amounts included in respect of the subsidiaries, is based solely on the report of the other auditors.
We Report that the Consolidated Financial Statements have been prepared by the Company in accordance with the requirements of Accounting Standard (AS) 21,
Consolidated Financial Statements, issued by the Institute of Chartered Accountants of India and on the basis of the separate audited Financial Statements of AMD
Industries Limited and its subsidiaries included in the Consolidated Financial Statements.
On the basis of the information and explanation given to us and on the consideration of the separate audit report on individual audited Financial Statements of AMD
Industries Limited and its aforesaid subsidiaries, we are of the opinion that :
1. The Consolidated Balance sheet gives a true and fair view of the Consolidated state of affairs of AMD Industries Limited and its subsidiaries as at March 31,
2013; and
2. The Consolidated Proft and Loss Account gives a true and fair view of the Consolidated results of operations of AMD Industries Limited and its subsidiaries for
the period then ended
For SURESH & ASSOCIATES
FRN : 003316N
Chartered Accountants
(CA SURESH K. GUPTA)
Dated: 28.05.2013 PARTNER
Place: New Delhi M. No. 080050
AMD Industries Limited (Consolidated) AMD Industries Limited
37 30th Annual Report 2012-2013
Particulars Note No. As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
I EQUITY AND LIABILITIES
Shareholders’ funds
(a) Share Capital 3 191,667,490.00 191,667,490.00
(b) Reserves and Surplus 4 814,492,996.08 823,811,919.49
(c) Minority Interest 43,074,833.00 42,875,399.00
1,049,235,319.08 1,058,354,808.49
Non-current liabilities
(a) Long-term borrowings 5 617,653,259.67 449,519,128.51
(b) Deferred tax liabilities (net) 30 78,856,535.00 84,656,732.00
(c) Other long-term liabilities 6 823,400.00 925,475.00
(d) Long-term provisions 7 16,312,922.00 14,575,032.00
713,646,116.67 549,676,367.51
Current liabilities
(a) Short-term borrowings 8 315,960,224.76 353,580,544.39
(b) Trade payables 9 317,708,830.36 230,499,732.88
(c) Other current liabilities 10 327,676,053.50 261,268,383.57
(d) Short-term provisions 11 29,232,834.57 151,427,154.88
990,577,943.19 996,775,815.72
TOTAL 2,753,459,378.94 2,604,806,991.72
II ASSETS
Non-current assets
(a) Fixed assets 12
(i) Tangible assets 868,638,375.30 853,978,983.23
(ii) Intangible assets 891,116.00 1,242,671.00
(iii) Capital work in progress 7,836,529.00 -
877,366,020.30 855,221,654.23
(b) Goodwill on Consolidation 281,267.00 281,267.00
(c) Non-current investments 13 833,498.42 3,985,585.69
(d) Long-term loans and advances 14 149,980,415.92 152,809,447.00
1,028,461,201.64 1,012,297,953.92
Current assets
(a) Inventories 15 1,121,029,621.85 886,152,699.01
(b) Trade receivables 16 309,174,323.76 365,804,877.15
(c) Cash and cash equivalents 17 44,791,267.30 44,319,410.74
(d) Short-term loans and advances 18 240,134,415.27 178,436,577.79
(e) Other current assets 19 9,868,549.12 117,795,473.11
1,724,998,177.30 1,592,509,037.80
TOTAL 2,753,459,378.94 2,604,806,991.72
III Notes forming part of the fnancial statements 1 - 33
Consolidated Balance Sheet as at 31st March, 2013
As per our report of even date attached
For Suresh & Associates For and on behalf of the Board of Directors
FRN No. 003316N
Chartered Accountants
(CA Suresh K. Gupta) (Ashok Gupta) (Adit Gupta)
Partner Managing Director Jt. Managing Director
Membership No.080050 DIN - 00031630 DIN - 00238784
(CA Laxmi Kant) (Joylin Jain)
DGM - Finance & Accounts Company Secretary
Place : New Delhi
Date : 28.05.2013
AMD Industries Limited (Consolidated) AMD Industries Limited
38 30th Annual Report 2012-2013
As per our report of even date attached
For Suresh & Associates For and on behalf of the Board of Directors
FRN No. 003316N
Chartered Accountants
(CA Suresh K. Gupta) (Ashok Gupta) (Adit Gupta)
Partner Managing Director Jt. Managing Director
Membership No.080050 DIN - 00031630 DIN - 00238784
(CA Laxmi Kant) (Joylin Jain)
DGM - Finance & Accounts Company Secretary
Place : New Delhi
Date : 28.05.2013
Statement of Proft and Loss for the year ended 31
st
March, 2013
Particulars Note No. For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
I Revenue from operations (gross) 20 1,852,175,360.93 2,040,350,781.97
Less: Excise duty 282,738,787.00 220,273,280.00
Revenue from operations (net) 1,569,436,573.93 1,820,077,501.97
II Other Income 21 9,100,573.08 4,362,461.33
Total revenue (1+2) 1,578,537,147.01 1,824,439,963.30
III Expenses
(a) Cost of materials consumed 22.a 966,213,608.63 1,020,337,916.99
(b) Purchases of stock-in-trade 22.b 30,923.00 2,045,732.50
(c) Changes in inventories of fnished goods, work-in-progress and stock-in-trade 22.c (62,194,175.00) 57,401,160.00
(d) Employee benefts expense 23 113,213,697.87 114,872,284.40
(e) Finance costs 24 101,032,399.80 107,345,584.29
(f) Depreciation and amortisation expense 12 82,878,233.72 76,343,358.34
(g) Other expenses 25 362,365,196.69 371,310,996.50
Total expenses 1,563,539,884.71 1,749,657,033.02
IV Proft / (Loss) before exceptional items and tax 14,997,262.30 74,782,930.28
V Exceptional items - Proft/(Loss) on Sale/Written Off of Fixed Assets 8,774.29 24,143,537.03
VI Proft / (Loss) before tax 15,006,036.59 98,926,467.31
VII Tax expense:
(a) Current tax expense for current year 11,705,000.00 33,000,000.00
(b) Current tax expense relating to prior years (1,827,745.00) 3,254,127.00
(c) Net current tax expense 9,877,255.00 36,254,127.00
(d) Deferred tax (5,800,197.00) 2,399,960.00
4,077,058.00 38,654,087.00
VIII Proft / (Loss) for the period 10,928,978.59 60,272,380.31
IX Less/(Add) : Minority Interest 199,434.00 (1,062,323.00)
X Proft/ (Loss) for the year 10,729,544.59 61,334,703.31
XI Earning per equity shares: Basic and diluted 29 0.57 3.14
XII Notes forming part of the fnancial statements 1 - 33
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
39 30th Annual Report 2012-2013
Note Particulars
1 Corporate information
The Compnay is engaged in the Manufacturing of Pet Preform,Crown Caps and CSD Closures. The company is also engaged in jobwork operation of preforms.
The company is continuously catering to the packaging needs of Beverages and Beer Industry of the country and abroad.The company has also interest in the
Real Estates.
2 Signifcant accounting policies
2.1 Basis of accounting and preparation of fnancial statements
The fnancial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to
comply with the Accounting Standards notifed under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the
Companies Act, 1956. The fnancial statements have been prepared on accrual basis under the historical cost convention.The accounting policies adopted in
the preparation of the fnancial statements are consistent with those followed in the previous year.
2.2 Use of estimates
The preparation of the fnancial statements in conformity with Indian GAAP requires the Management to make estimates and assumptions considered in the
reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The Management believes
that the estimates used in preparation of the fnancial statements are prudent and reasonable. Future results could differ due to these estimates and the
differences between the actual results and the estimates are recognised in the periods in which the results are known / materialise.
2.3 Inventories
“Inventories
(i) Raw Material
At cost or net realizable value (on FIFO basis) whichever is lower (Rejected raw material at cost Less claim received thereon)
ii) Finished Goods
At cost or net realizable value whichever is lower. For arriving at the cost for this purpose the cost includes material cost and manufacturing expenses.
iii) Semi Finished Goods
At cost of input plus apportioned overhead expenses and depreciation.
iv) Job work in Process
At apportioned manufacturing expenses and depreciation.
v) Stores and Spares
At cost or net realizable value (on FIFO basis) whichever is lower.
vi) Scrap
At estimated realizable value.
vii) Real Estates Inventory
At cost plus cost of improvement.
In order to comply with the mandatory requirements of Accounting Standard -2 ‘Valuation of inventories’ prescribed by the Institute of Chartered
Accountants of India; The Company has adopted the exclusive method of the excise duty”
2.4 Cash and cash equivalents (for purposes of Cash Flow Statement)
Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an original maturity of three months or less
from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignifcant risk of
changes in value.
2.5 Cash fow statement
Cash fows are reported using the indirect method, whereby proft / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-
cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash fows from operating, investing and fnancing activities of the
Company are segregated based on the available information.
2.6 Depreciation and Amortisation
The depreciation on Plant & Machinery including Moulds installed in Neemrana Unit and Ghaziabad Unit has been provided on ’Multiple Shift Basis’. The
depreciation on all assets has been provided on ‘straight-line method’ at the rates prescribed in Schedule XIV of the Companies Act, 1956.
2.7 Revenue recognition
“Revenue in respect of sale of products is recognised on delivery, which coincides with the transfer of risk and rewards of ownership. Discounts given / accrued
to customers at the time of despatch are considered as trade discounts and netted from sales.
Sales made to Nepal and Bhutan has been treated as export sale. However there is no infow of Foreign Exchange on sales to Nepal and Bhutan.
Job work of Preform Completed and lying in Factories as on 31
st
March 2013 has been shown as inventory under the head Job Work in Process.
Interest income is recognized on an accrual basis on time proportionate basis, based on interest rates implicit in the transaction. “
2.8 Other income
Dividend income is recognized on receipt basis.
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
40 30th Annual Report 2012-2013
2.9 Tangible fxed assets
“Fixed assets are carried at cost less accumulated depreciation and impairment losses, if any. The cost of fxed assets includes interest on borrowings
attributable to acquisition of qualifying fxed assets up to the date the asset is ready for its intended use and other incidental expenses incurred up to that
date. Exchange differences arising on restatement / settlement of long-term foreign currency borrowings relating to acquisition of depreciable fxed assets
are adjusted to the cost of the respective assets and depreciated over the remaining useful life of such assets. Machinery spares which can be used only in
connection with an item of fxed asset and whose use is expected to be irregular are capitalised and depreciated over the useful life of the principal item of the
relevant assets. Subsequent expenditure relating to fxed assets is capitalised only if such expenditure results in an increase in the future benefts from such
asset beyond its previously assessed standard of performance.“
CENVAT Credit availed on acquisition of fxed assets is reduced from the cost of concerned assets.
Capital work-in-progress:
Projects under which assets are not ready for their intended use and other capital work-in-progress are carried at cost, comprising direct cost, related incidental
expenses and attributable interest.
2.10 Intangible assets
“Intangible assets are carried at cost less accumulated amortisation and impairment losses, if any. The cost of an intangible asset comprises its purchase price,
including any import duties and other taxes (other than those subsequently recoverable from the taxing authorities), and any directly attributable expenditure
on making the asset ready for its intended use and net of any trade discounts and rebates. Subsequent expenditure on an intangible asset after its purchase /
completion is recognised as an expense when incurred unless it is probable that such expenditure will enable the asset to generate future economic benefts
in excess of its originally assessed standards of performance and such expenditure can be measured and attributed to the asset reliably, in which case such
expenditure is added to the cost of the asset. “
2.11 Foreign currency transactions
(i) Foreign currency transactions during the year are recorded at the rate of exchange prevailing on the date of transaction. Foreign currency monetary
assets and liabilities are translated into Rupees at the rate of exchange prevailing on the date of Balance Sheet.All Exchange difference are dealt with in
the Proft and Loss Account.Foreign Currency monetary items are reported using the closing rate.
(ii) Where the company has entered into forward exchange contracts, the difference between the forward rate and spot rate at the date of the contract is
recognised in the statement of the proft and loss over the life of the contract and difference between the spot rate at the date of contract and the exchange
rate prevailing on the balance sheet date is recognised as per Accounting Standard (AS)-11 issued by the Institute of Chartered Accountants of India. Any
proft or loss arising on cancellation or renewal of the forward exchange contract is recognised as Income or as expenses for the year.
2.12 Government grants, subsidies and export incentives
Export benefts are accounted for in the year of exports based on eligibility and when there is no uncertainty in receiving the same.
2.13 Investments
“Long-term investments , are carried individually at cost less provision for diminution, other than temporary, in the value of such investments. Current investments
are carried individually, at the lower of cost and fair value. Cost of investments include acquisition charges such as brokerage, fees and duties. “
2.14 Employee benefts
(i) Short-term employee benefts are recognised as an expense at the undiscounted amount in the proft and loss account of the year in which the related
service is rendered.
(ii) Defned Beneft Plans:
- Leave Salary of employees on the basis of acturial valuation as per AS 15.
- Gratuity Liability on the basis of acturial valuation as per AS 15.
(iii) Defned Contribution Plans:
Provident fund and ESI on the basis of actual liability accrued and paid to authorities.
2.15 Borrowing costs
Borrowing costs include interest, amortisation of ancillary costs incurred and exchange differences arising from foreign currency borrowings to the extent
they are regarded as an adjustment to the interest cost. Costs in connection with the borrowing of funds to the extent not directly related to the acquisition of
qualifying assets are charged to the Statement of Proft and Loss over the tenure of the loan. Borrowing costs, allocated to and utilised for qualifying assets,
pertaining to the period from commencement of activities relating to construction / development of the qualifying asset upto the date of capitalisation of such
asset is added to the cost of the assets. Capitalisation of borrowing costs is suspended and charged to the Statement of Proft and Loss during extended periods
when active development activity on the qualifying assets is interrupted.
2.16 Segment reporting
The Company identifes primary segments based on the dominant source, nature of risks and returns and the internal organisation and management structure.
The operating segments are the segments for which separate fnancial information is available and for which operating proft/loss amounts are evaluated
regularly by the executive Management in deciding how to allocate resources and in assessing performance.
2.17 Earnings per share
Basic Earnings per share are calculated by dividing the net proft or loss for the period attributable to equity shareholders by the weighted average number of
euity shares outstanding during the period. Diluted Earnings per share are not different from basic earning per share.
2.18 Taxes on income
The Deffered tax expense or beneft is recognised on timing differences being the difference between taxable incomes and accounting incomes that originate
in one period and are capable of reversal in one or more subsequent periods. Deffered tax assets and liabilities are measured using the tax rates and tax laws
that have been enacted or substantively enacted by the balance sheet date.
2.19 Impairment of assets
The carrying values of assets / cash generating units at each Balance Sheet date are reviewed for impairment. If any indication of impairment exists, the
recoverable amount of such assets is estimated and impairment is recognised, if the carrying amount of these assets exceeds their recoverable amount. The
recoverable amount is the greater of the net selling price and their value in use. Value in use is arrived at by discounting the future cash fows to their present
value based on an appropriate discount factor. When there is indication that an impairment loss recognised for an asset in earlier accounting periods no longer
exists or may have decreased, such reversal of impairment loss is recognised in the Statement of Proft and Loss, except in case of revalued assets.
2.20 Provisions and contingencies
A provision is recognised when the Company has a present obligation as a result of past events and it is probable that an outfow of resources will be required
to settle the obligation in respect of which a reliable estimate can be made. Provisions (excluding retirement benefts) are not discounted to their present value
and are determined based on the best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and
adjusted to refect the current best estimates. Contingent liabilities are disclosed in the Notes.
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
41 30th Annual Report 2012-2013
Note 3 Share capital
Particulars As at 31st March, 2013 As at 31st March, 2012
Number of shares Rs. Number of shares Rs.
(a) Authorised
Equity shares of Rs.10/- each with voting rights 25,000,000.00 250,000,000.00 25,000,000.00 250,000,000.00
25,000,000.00 250,000,000.00 25,000,000.00 250,000,000.00
(b) Issued
Equity shares of Rs.10/- each with voting rights 19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
(c) Subscribed and fully paid up
Equity shares of Rs.10/- each with voting rights 19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
Total 19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
Note 3 Share capital (contd.)
Particulars
Notes:
Reconciliation of the shares outstanding at the beginning and at the end of the reporting period
(i) Details of shares held by the holding company, the ultimate holding company, their subsidiaries and associates:
Particulars Opening Balance Closing Balance
Equity shares with voting rights
Year ended 31 March, 2013
- Number of shares 19,166,749.00 19,166,749.00
- Amount (Rs.) 191,667,490.00 191,667,490.00
Year ended 31 March, 2012
- Number of shares 19,166,749.00 19,166,749.00
- Amount (Rs.) 191,667,490.00 191,667,490.00
Note 3 Share capital (contd.)
Particulars
(ii) Details of shares held by each shareholder holding more than 5% shares:
Class of shares / Name of shareholder As at 31st March, 2013 As at 31st March, 2012
Number of shares
held
% holding in that
class of shares
Number of shares
held
% holding in that
class of shares
Equity shares with voting rights
Harswarup Gupta 2,575,604.00 13.4379% 2,575,604.00 13.4379%
Ashok Gupta 3,427,796.00 17.8841% 3,427,796.00 17.8841%
Chitra Gupta 1,200,945.00 6.2658% 1,200,945.00 6.2658%
Adit Gupta 3,284,126.00 17.1345% 3,264,126.00 17.0301%
Ashok Sons (HUF) 982,500.00 5.1261% 982,500.00 5.1261%
Note 4 Reserves and surplus
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Securities premium account
Opening balance 650,390,253.28 650,390,253.28
Closing balance 650,390,253.28 650,390,253.28
(b) General reserve
Opening balance 27,326,418.51 27,326,418.51
Closing balance 27,326,418.51 27,326,418.51
(c) Surplus / (Defcit) in Statement of Proft and Loss
Opening balance 146,095,247.70 107,036,619.39
Add: Proft / (Loss) for the year 10,729,544.59 61,334,703.31
“Less: Dividends proposed to be distributed to equity shareholders Re 0.90 Per shares
(Previous year Re 1/- per share)”
17,250,074.00 19,166,749.00
Tax on dividend 2,798,394.00 3,109,326.00
Closing balance 136,776,324.29 146,095,247.70
Total 814,492,996.08 823,811,919.49
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
42 30th Annual Report 2012-2013
Note 5 Long-term borrowings
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Term loans
From banks
Secured 585,627,634.27 403,630,779.72
585,627,634.27 403,630,779.72
From other parties
Secured 28,555,528.40 16,888,348.79
Unsecured 3,470,097.00 29,000,000.00
32,025,625.40 45,888,348.79
Total 617,653,259.67 449,519,128.51
Note :
Details of Repayment Terms and Security against the Term Loans
Particulars Repayment Terms Security Rate of Interest Amount of EMI/
Instalment
Kotak Mahindra Bank Repayble in 60 Monthly EMI Hypothecation of Vehicle acquired out of Loan 13.59% 33,500.00
Standard Chartered
Bank
Repayble in 211 Monthly EMI Mortgage of Immovable Properties of the
Company at DLF,Pinnacle & DLF Courtyard
and the Personal Guarantee of the Directors
12.00% 84,239.00
Standard Chartered
Bank
Repayble in 187 Monthly EMI Mortgage of Immovable Properties of the
Company at DLF,Pinnacle & DLF Courtyard
and the Personal Guarantee of the Directors
12.50% 293,474.00
Standard Chartered
Bank
Repayble in 120 Monthly EMI Mortgage of Immovable Properties of the
Company at DLF,Pinnacle & DLF Courtyard
and the Personal Guarantee of the Directors
BR+2.75% 410,124.00
Union Bank of India Repayble in 60 Monthly
Installments and Interest
Payable Monthly
First Pari Passu charge over fxed assets of
the company except vehicles & immovable
properties of the company specifcally
mortgage to other lenders.The same is
also secured by 2
nd
Pari Passu charge over
the current assets of the company and the
personal guarantee of the directors and
corporate guarantee & mortgage of Land
and Building of another Company.
BR+4.25% 5,275,000.00
Kotak Mahindra Bank Repayble in 68 Monthly EMI Mortgage of Immovable Properties of the
Company at Digital Green, Gurgaon and the
Personal Guarantee of the Directors
RR-4.30% 665,535.00
Kotak Mahindra Bank Repayble in 120 Monthly EMI Mortgage of Personal Property of wife of
Director and the Personal Guarantee of the
Directors
RR+2.50% 617,359.00
Kotak Mahindra Bank Repayble in 72 Monthly EMI Mortgage of Personal Property of wife of
Director & Director’s HUF and the Personal
Guarantee of the Directors
BR+4.75% 3,131,164.00
Indiabulls Housing
Finance Ltd.
Repayble in 84 Monthly EMI Mortgage of Immovable Properties of the
Company at Mohali and the Personal
Guarantee of the Directors
IHFL-6.05% 441,308.00
Tata Capital Financial
Services Limited
Repayble in 36 Monthly EMI Hypothecation of Vehicle acquired out of
Loan
LTLR-4.60% 25,320.00
Tata Capital Financial
Services Limited
Repayble in 48 Monthly
Installments and Interest
Payable Monthly
Hypothecation of Equipments and First Pari
Passu charge over Immovable peroperty
of the Company situated at Haridwar and
Personal Guarantee of the Directors
LTLR-4.60% 375,000.00
State Bank of India Repayble in 12 Monthly
Installments of Rs.17 Lac,12
Monthly Installments of
Rs..33 Lac and 6 Monthly
Installmnets of Rs..67 Lac
during the F.Y. 2013-14,2014-
15 and 2015-16 respectively
and Interest Payable Monthly
First Pari Passu charge over fxed assets of
the company except vehicles & immovable
properties of the company situated at
Ghaziabad,Haridwar and others immovable
properties specifcally mortgage to other
lenders.The same is also secured by the
personal guarantee of the directors.
BR+3.75% -
ICICI Bank Repayble in 120 Monthly EMI Mortgage of Personal Property of Directors
and the Personal Guarantee of the Directors
BR+2.50% 935,604.00
Kotak Mahindra Bank Repayble in 72 Monthly EMI Mortgage of Personal Property of wife of
Director & Director’s HUF and the Personal
Guarantee of the Directors and Corporate
Guarantee of Holding Co.
BR+4.75% 3,675,885.00
Kotak Mahindra Bank Repayble in 96 Monthly EMI Mortgage of Personal Property of wife of
Director & Director’s HUF and the Personal
Guarantee of the Directors and Corporate
Guarantee of Holding Co.
BR+4.75% 887,007.00
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
43 30th Annual Report 2012-2013
Note 6 Other long-term liabilities
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Trade Payables:
(i) Other than Acceptances 313,400.00 415,475.00
(b) Others:
(i) Trade / security deposits received 510,000.00 510,000.00
Total 823,400.00 925,475.00
Note 7 Long-term provisions
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Provision for employee benefts:
(i) Provision for gratuity (net) (Refer Note 26) 6,557,135.00 5,655,170.00
(ii) Provision for other employee benefts (Leave Encashment) (Refer Note 26) 3,755,787.00 2,919,862.00
10,312,922.00 8,575,032.00
(b) Provision - Others:
(i) Provision for other contingencies (Refer Note 31) 6,000,000.00 6,000,000.00
6,000,000.00 6,000,000.00
Total 16,312,922.00 14,575,032.00
Note 8 Short-term borrowings
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Loans repayable on demand
From banks
Secured 249,820,308.08 288,739,858.39
Unsecured 1,655,149.00 38,854,784.00
251,475,457.08 327,594,642.39
(b) Loans and advances from related parties
Unsecured 64,484,767.68 25,985,902.00
64,484,767.68 25,985,902.00
Total 315,960,224.76 353,580,544.39
Notes:
Details of Security and terms against the Short Term Borrowings from Banks
Particulars Security Rate of Interest
State Bank of India First Pari Passu charge over Current assets of the company and 2
nd
parri passu charge over the
fxed assets of the company except vehicles & immovable properties of the company specifcally
mortage to other lenders.The same is also secured by way of mortagage of personal property of the
Director and the Personal Guarantee of the Directors.
BR+3.75%
Kotak Mahindra Bank First Pari Passu charge over Current assets of the company and 2
nd
parri passu charge over the
fxed assets of the company except vehicles & immovable properties of the company specifcally
mortage to other lenders.The same is also secured by way of mortagage of personal property of the
Director and the Personal Guarantee of the Directors.
BR+3.25%
Punjab National Bank First Pari Passu charge over Current assets of the company and 2
nd
parri passu charge over the
fxed assets of the company except vehicles & immovable properties of the company specifcally
mortage to other lenders.The same is also secured by way of mortagage of personal property of the
Director and the Personal Guarantee of the Directors.
BR+3.25%
Central Bank of India Mortagage of personal property of the Director and the Personal Guarantee of the Directors. BR+3.50%
Details of terms and conditions Short Term Borrowings received from Related parties
Name of Party Terms of Repayment Rate of Interest
H.S.Gupta Payable on demand 12%
Ashok Gupta Payable on demand 12%
Adit Gupta Payable on demand 12%
Ashoka Productions &
Communications (P) Ltd.
Payable on demand 12%
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
44 30th Annual Report 2012-2013
Note 9 Trade payables
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Trade payables:
Other than Acceptances 317,708,830.36 230,499,732.88
Total 317,708,830.36 230,499,732.88
Note 10 Other current liabilities
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Current maturities of long-term debt (Refer Note (i) below) 159,474,189.25 166,635,415.39
(b) Interest Accrued on borrowings 342,815.00 3,840,736.00
(c) Other payables
(i) Statutory remittances (Contributions to PF and ESIC, Withholding Taxes, Excise Duty, VAT,
Service Tax, etc.)
4,313,098.88 6,019,036.73
(ii) Interest payable 274,802.84 -
(iii) Trade and Security Deposits 66,400,000.00 41,100,000.00
(iv) Advances from customers 57,246,825.30 4,660,012.35
(v) Others (Expenses Payable and Advances) 39,624,322.23 39,013,183.10
Total 327,676,053.50 261,268,383.57
Note (i): Current maturities of long-term debt (Refer Notes in Note 5 - Long-term borrowings for details of security and guarantee):
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Term loans
From banks
Secured 152,075,636.02 163,307,219.00
152,075,636.02 163,307,219.00
From other parties
Secured 7,398,553.23 3,328,196.39
7,398,553.23 3,328,196.39
Total 159,474,189.25 166,635,415.39
Note 11 Short-term provisions
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Provision for employee benefts:
(i) Provision for bonus 2,853,610.00 2,815,448.00
2,853,610.00 2,815,448.00
(b) Provision - Others:
“(i) Provision for tax (net of advance tax Rs.98,48,247.30
(As at 31 March, 2012 Rs.2,40,55,788.00))”
1,856,752.70 8,944,212.00
(ii) Provision for proposed equity dividend 17,250,074.00 19,166,749.00
(iii) Provision for tax on proposed dividends 2,798,394.00 3,109,326.00
(iv) Other Current Liabilities :-
(a) Forward Contract Payable 4,110,434.36 113,751,827.70
(b) Deferred Forward Premium 301,569.51 3,564,592.18
(c) Wealth Tax Payable 62,000.00 75,000.00
26,379,224.57 148,611,706.88
Total 29,232,834.57 151,427,154.88
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
45 30th Annual Report 2012-2013
Note 12 :Fixed Assets
GROSS BLOCK ACCUMULATED DEPRECIATION NET BLOCK
Balance
as at
1 April, 2012
Additions Disposals Balance
as at
31st March,
2013
Balance
as at
1 April, 2012
Depreciation
Charge for
the year
On
Diposals
Balance
as at
31st March,
2013
Balance
as at
31st March,
2013
Balance
as at
31st March,
2012
Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs.
(i) Tangible Assets
(a) Land 161,200,632.47 - - 161,200,632.47 - - - - 161,200,632.47 161,200,632.47
(b) Buildings 99,209,252.00 2,882,397.01 - 102,091,649.01 15,577,159.30 3,297,278.00 - 18,874,437.30 83,217,211.71 83,632,092.70
(c) Plant and
Equipments
964,618,285.79 93,554,632.50 22,000.00 1,058,150,918.29 384,176,665.40 75,558,829.00 6,482.00 459,729,012.40 598,421,905.89 580,441,620.39
(d) Furniture and
Fixtures
20,261,588.59 539,830.00 - 20,801,418.59 7,049,861.33 1,257,971.00 - 8,307,832.33 12,493,586.26 13,211,727.26
(e) Vehicles 24,569,114.15 0.00 760,468.00 23,808,646.15 12,586,183.91 2,101,845.72 718,260.29 13,969,769.34 9,838,876.81 11,982,930.25
(f) Offce equipment 11,899,376.49 252,972.00 - 12,152,348.49 8,389,396.33 296,790.00 - 8,686,186.33 3,466,162.16 3,509,980.16
Total 1,281,758,249.49 97,229,831.51 782,468.00 1,378,205,613.00 427,779,266.27 82,512,713.72 724,742.29 509,567,237.70 868,638,375.30 853,978,983.23
Previous Year 1,273,683,554.59 17,896,279.00 9,821,584.10 1,281,758,249.49 355,497,225.06 76,075,782.34 3,793,741.13 427,779,266.27 853,978,983.22 918,186,329.53
(ii) Intangible Assets
(a) Computer
software
2,254,905.00 13,965.00 - 2,268,870.00 1,012,234.00 365,520.00 - 1,377,754.00 891,116.00 1,242,671.00
Total 2,254,905.00 13,965.00 - 2,268,870.00 1,012,234.00 365,520.00 - 1,377,754.00 891,116.00 1,242,671.00
Previous Year 1,465,100.00 789,805.00 - 2,254,905.00 744,658.00 267,576.00 - 1,012,234.00 1,242,671.00 720,442.00
(iii) Capital Work in
Progress
- 7,836,529.00 - 7,836,529.00 - - - - 7,836,529.00 -
Total - 7,836,529.00 - 7,836,529.00 - - - - 7,836,529.00 -
Previous Year - - - - - - - - - -
Grand Total 1,284,013,154.49 105,080,325.51 782,468.00 1,388,311,012.00 428,791,500.27 82,878,233.72 724,742.29 510,944,991.70 877,366,020.30 855,221,654.22
Previous Year 1,275,148,654.59 18,686,084.00 9,821,584.10 1,284,013,154.49 356,241,883.06 76,343,358.34 3,793,741.13 428,791,500.27 855,221,654.22 918,906,771.53
Note : Capital work in progress reperesnt the amount paid for electrical appliances,equipments, furniture & fxture etc. during the construction period of the premises taken on rent.However
no rent has been paid during the current fnancial year.-
Note 13 Non-current investments
Particulars As at 31st March, 2013 As at 31st March, 2012
Quoted
Rs.
Unquoted
Rs.
Total
Rs.
Quoted
Rs.
Unquoted
Rs.
Total
Rs.
Investments (At cost):
A. Trade
(a) Investment in equity instruments
(i) of subsidiaries - - - - - -
52,00,000 (As at 31 March, 2012:
52,00,000) Equity Shares of Rs.10
each fully paid up in AMD Estates &
Developers (P) Limited
- - - - - -
Total - Trade (A) - - - - -
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
46 30th Annual Report 2012-2013
Note 13 Non-current investments (contd.)
Particulars As at 31st March, 2013 As at 31st March, 2012
Quoted
Rs.
Unquoted
Rs.
Total
Rs.
Quoted
Rs.
Unquoted
Rs.
Total
Rs.
B. Other investments
(a) Investment in equity instruments
(i) of other STL Global Limited (50000
Equity Shares fully paid up)
138,500.00 - 138,500.00 3,321,885.69 - 3,321,885.69
138,500.00 - 138,500.00 3,321,885.69 - 3,321,885.69
(b) Investment in mutual funds
(i) SBI One India Fund - Dividend
(10000 Units at Rs.10 Each)
100,000.00 100,000.00 100,000.00 100,000.00
(ii) SBI Infrastructure Fund - I - Growth
(10000 Units at Rs.10 Each)
100,000.00 100,000.00 100,000.00 100,000.00
(iii) Union KBC Equity Fund Growth
(50000 Units at Rs.10 Each)
500,000.00 500,000.00 500,000.00 500,000.00
700,000.00 700,000.00 700,000.00 700,000.00
Total - Other investments (B) 838,500.00 838,500.00 4,021,885.69 4,021,885.69
Total (A+B) 838,500.00 - 838,500.00 4,021,885.69 - 4,021,885.69
Less: Provision for diminution in value of
investments 5,001.58 36,300.00
Total 833,498.42 3,985,585.69
Aggregate amount of quoted investments 838,500.00 4,021,885.69
Aggregate amount of unquoted investments - -
Note 14 Long-term loans and advances
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Capital advances
Unsecured, considered good 117,933,103.92 131,434,437.00
117,933,103.92 131,434,437.00
(b) Security deposits
Unsecured, considered good 21,351,211.00 16,693,811.00
21,351,211.00 16,693,811.00
(c) Other Loans and Advances
(i) Prepaid expenses - Unsecured, considered good 57,700.00 104,000.00
57,700.00 104,000.00
(ii) Advances to suppliers
Unsecured, considered good 1,460,527.00 440,237.00
1,460,527.00 440,237.00
(iii) Advances recoverable in cash or kind
Unsecured, considered good 9,177,874.00 4,136,962.00
9,177,874.00 4,136,962.00
Total 149,980,415.92 152,809,447.00
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
47 30th Annual Report 2012-2013
Note 15 Inventories
(At lower of cost and net realisable value)
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Raw materials 331,595,578.00 215,381,180.01
Goods-in-transit 42,889,196.00 24,724,168.00
374,484,774.00 240,105,348.01
(b) Work-in-progress (Refer Note below) 38,923,900.00 17,974,600.00
38,923,900.00 17,974,600.00
(c) Finished goods (other than those acquired for trading) 71,726,900.00 33,677,400.00
71,726,900.00 33,677,400.00
(d) Stock-in-trade (acquired for trading) - 2,300.00
- 2,300.00
(e) Stores and spares 28,013,386.00 23,064,006.00
28,013,386.00 23,064,006.00
(f) Others - Packing Materials 11,044,484.00 4,334,531.00
11,044,484.00 4,334,531.00
(g) Others - Waste & Scrap 9,385,364.00 6,187,689.00
9,385,364.00 6,187,689.00
(g) Others - Real Estates :
(i) DLF Pinnacle 17,399,615.12 17,399,615.12
(ii) DLF Courtyard 26,781,786.81 26,781,786.81
(iii) Project at Gurgaon 369,824,707.15 349,880,786.83
(iv) Project at Rewari 173,444,704.77 166,744,636.24
587,450,813.85 560,806,825.00
Total 1,121,029,621.85 886,152,699.01
Note: Details of inventory of work-in-progress
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Pet Preform
CSD Closures 3,645,200.00 4,302,600.00
Crown Caps 13,560,400.00 3,500,200.00
Job Work (Pet Preform) 21,718,300.00 10,171,800.00
38,923,900.00 17,974,600.00
Note 16 Trade receivables
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Trade receivables outstanding for a period exceeding six months
Unsecured, considered good 16,105,011.29 17,298,634.03
Doubtful 1,596,709.00 1,592,552.00
17,701,720.29 18,891,186.03
Less : Provision for Doubtful trade receivables 320,000.00 -
17,381,720.29 18,891,186.03
Other Trade receivables
Unsecured, considered good 291,792,603.47 346,913,691.12
291,792,603.47 346,913,691.12
Total 309,174,323.76 365,804,877.15
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
48 30th Annual Report 2012-2013
Note 17 Cash and cash equivalents
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Cash on hand 178,729.00 113,137.25
(b) Balances with banks
(i) In current accounts 4,006,179.42 9,675,866.39
(ii) In EEFC accounts 310,044.58 583,515.10
(iii) Balances held as margin money or security
against borrowings, guarantees and other commitments
40,109,759.00 33,802,504.00
(c) Others - Foreign Currency in Hand 186,555.30 144,388.00
Total 44,791,267.30 44,319,410.74
Note 18 Short-term loans and advances
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Loans and advances to employees
Unsecured, considered good 667,568.00 641,533.00
667,568.00 641,533.00
(b) Prepaid expenses - Unsecured, considered good 4,919,877.00 2,193,437.40
4,919,877.00 2,193,437.40
(c) Balances with government authorities
Unsecured, considered good
(i) CENVAT credit receivable 119,150,277.78 82,110,308.44
(ii) VAT credit receivable 9,950,773.00 2,808,364.00
(iii) Service Tax credit receivable 14,195,217.95 24,486,255.38
(iv) Others 205,111.00 76,111.00
143,501,379.73 109,481,038.82
(d) Others (Advances to Suppliers))
Unsecured, considered good 91,045,590.54 66,120,568.57
91,045,590.54 66,120,568.57
Total 240,134,415.27 178,436,577.79
Note 19 Other current assets
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Accruals
(i) Interest accrued on deposits 1,251,390.72 1,422,543.90
(b) Others
(i) Others - (i) Forward Contract Receivables 5,060,172.56 111,277,384.15
(ii) Exports Incentive Receivables 3,556,985.84 5,095,545.06
Total 9,868,549.12 117,795,473.11
Note 20 Revenue from operations
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(a) Sale of products (Refer Note (i) below) 1,500,529,172.93 1,746,847,489.25
(b) Sale of services (Refer Note (ii) below) 319,624,603.00 237,740,383.51
(c) Other operating revenues (Refer Note (iii) below) 32,021,585.00 55,762,909.21
1,852,175,360.93 2,040,350,781.97
Less:
(d) Excise duty 282,738,787.00 220,273,280.00
Total 1,569,436,573.93 1,820,077,501.97
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
49 30th Annual Report 2012-2013
Note Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(i) Sale of products comprises:
Manufactured goods
Crown Caps 559,156,884.73 796,862,252.00
CSD Closures 445,391,260.72 403,100,890.21
Pet - Preforms 495,865,212.48 546,576,913.04
Others
Total - Sale of manufactured goods 1,500,413,357.93 1,746,540,055.25
Traded goods
Others 115,815.00 307,434.00
Total - Sale of traded goods 115,815.00 307,434.00
Total - Sale of products 1,500,529,172.93 1,746,847,489.25
(ii) Sale of services comprises :
Jobwork - Pet Preform 319,624,603.00 237,740,383.51
Total - Sale of services 319,624,603.00 237,740,383.51
(iii) Other operating revenues comprise:
Sale of scrap 19,994,351.00 28,645,223.57
Duty drawback and other export incentives 5,401,168.00 18,921,121.00
Others - Discount on Purchase 6,626,066.00 8,196,564.64
Total - Other operating revenues 32,021,585.00 55,762,909.21
Note 21 Other income
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(a) Interest income (Refer Note (i) below) 5,914,607.64 2,346,855.41
(b) Dividend income:
others 14,450.98 18,900.00
(c) Other non-operating income (Refer Note (ii) below) 3,171,514.46 1,996,705.92
Total 9,100,573.08 4,362,461.33
Note Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(i) Interest income comprises:
Interest from banks on:
deposits 2,315,695.82 2,769,140.11
Interest on loans and advances 333,017.00 960,736.30
Interest on overdue trade receivables 3,265,894.82 (1,384,981.00)
Interest on Income Tax Refund - 1,960.00
Total - Interest income 5,914,607.64 2,346,855.41
(ii) Other non-operating income comprises:
Rental Income 2,040,000.00 1,680,806.00
Miscellaneous income 1,131,514.46 315,899.92
Total - Other non-operating income 3,171,514.46 1,996,705.92
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
50 30th Annual Report 2012-2013
Note 22.b Purchase of traded goods
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Traded good - Real Estates - DLF Pinnacle - 247,826.00
Traded good - Real Estates - DLF Courtyard - 1,706,714.00
Others 30,923.00 91,192.50
Total 30,923.00 2,045,732.50
Note 22.c Changes in inventories of fnished goods, work-in-progress and stock-in-trade
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Inventories at the end of the year:
Finished goods 71,726,900.00 33,677,400.00
Work-in-progress 38,923,900.00 17,974,600.00
Stock-in-trade - Real Estates 44,181,401.93 44,181,401.93
Stock-in-trade -Waste & Scrap 9,385,364.00 6,187,689.00
Stock-in-trade - Trading Goods - 2,300.00
164,217,565.93 102,023,390.93
Inventories at the beginning of the year:
Finished goods 33,677,400.00 89,198,690.00
Work-in-progress 17,974,600.00 22,414,100.00
Stock-in-Trade - Real Estates 44,181,401.93 42,226,861.93
Stock-in-trade -Waste & Scrap 6,187,689.00 5,582,599.00
Stock-in-trade - Trading Goods 2,300.00 2,300.00
102,023,390.93 159,424,550.93
Net (increase) / decrease (62,194,175.00) 57,401,160.00
Note 23 Employee benefts expense
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Salaries and wages 108,868,880.87 110,903,755.00
Contributions to provident and other funds 2,586,739.00 2,462,980.40
Staff welfare expenses 1,758,078.00 1,505,549.00
Total 113,213,697.87 114,872,284.40
Note 22.a Cost of materials consumed
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Opening stock 240,105,348.01 309,186,960.00
Add: Purchases 1,100,593,034.62 951,256,305.00
1,340,698,382.63 1,260,443,265.00
Less: Closing stock 374,484,774.00 240,105,348.01
Cost of material consumed 966,213,608.63 1,020,337,916.99
Material consumed comprises:
Tin Free Sheets 246,396,118.09 354,248,609.00
Polypropylene 223,366,058.57 168,509,861.00
Resin 350,780,901.18 341,512,408.00
Other items (includes Lining Compund, Lacquer, PVC etc.) 145,670,530.79 156,067,038.99
Total 966,213,608.63 1,020,337,916.99
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
51 30th Annual Report 2012-2013
Note 24 Finance costs
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(a) Interest expense on:
(i) Borrowings 88,727,138.46 93,306,835.60
(ii) Trade payables 7,613,629.34 7,916,169.21
(b) Other borrowing costs - Processing Fees 4,691,632.00 2,299,852.73
(c) Net (gain) / loss on foreign currency transactions - 3,822,726.75
Total 101,032,399.80 107,345,584.29
Note 25 Other expenses
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Business promotion 730,224.70 755,084.41
Communication 3,086,750.20 2,792,601.57
Consumption of stores and spare parts 6,302,123.85 6,680,405.20
Consumption of packing materials 52,713,779.54 50,071,993.82
Commission Paid 41,012,391.00 49,723,901.35
Donations and contributions 789,610.00 103,100.00
Freight and forwarding 37,017,944.25 46,369,461.66
Legal and professional 10,464,715.03 7,100,232.89
Net loss on foreign currency transactions(other than considered as fnance cost) (8,377,000.03) 25,070,748.89
Auditors Remuneration (Refer Note 25 (i) below) 793,436.00 774,972.00
Printing and stationery 1,191,489.70 1,387,719.00
Power and fuel 123,406,200.00 98,134,168.00
Insurance 5,647,052.20 3,860,735.14
Rates and taxes 1,573,295.00 1,097,919.00
Rent 27,958,641.50 19,889,408.81
Repairs and maintenance - Buildings 3,438,130.00 3,842,222.50
Repairs and maintenance - Machinery 9,828,194.94 13,866,022.75
Repairs and maintenance - Others 2,919,261.94 4,130,569.43
Sales discount 4,676,520.65 9,238,892.72
Travelling and conveyance 14,674,615.53 13,510,017.86
Water 100,039.00 120,385.00
“Permanent dimunition in the carrying amount of long term investments
(other than subsidiaries)”
3,152,087.27 38,300.00
Provision for doubtful trade receivables 320,000.00 -
Miscellaneous expenses 18,945,694.42 12,752,134.50
Total 362,365,196.69 371,310,996.50
Notes: 25 (i) Auditors Remuneration includes:
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(i) Payments to the auditors comprises (net of service tax input credit, where applicable):
As auditors - statutory audit 520,000.00 520,000.00
For taxation audit fees 130,000.00 130,000.00
For taxation matters 35,000.00 62,000.00
For other services 82,200.00 40,500.00
Total 767,200.00 752,500.00
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
52 30th Annual Report 2012-2013
Note 26 Disclosures under Accounting Standards (contd.)
Employee beneft plans
Defned beneft plans
The Company offers the following employee beneft schemes to its employees:
i. Gratuity
ii. Other defned beneft plans (Leave Encashment)
The following table schemes and the amount recognised in the fnancial statements:
Rs.
Particulars For the year ended
31st March, 2013
For the year ended
31st March, 2012
Gratuity Other defned
beneft
plans (Leave
Encashment)
Gratuity Other defned
beneft
plans (Leave
Encahsment)
Components of employer expense
Current service cost 1,197,064.00 932,996.00 1,038,230.00 874,831.00
Interest cost 486,345.00 251,108.00 372,317.00 178,060.00
Curtailment cost / (credit) - (224,362.00) - -
Past service cost - 500,772.00 - -
Actuarial losses/(gains) 639,579.00 426,442.00 201,270.00 170,731.00
Total expense recognised in the Statement of Proft and Loss 2,322,988.00 1,886,956.00 1,611,817.00 1,223,622.00
Actual contribution and beneft payments for year
Actual beneft payments (1,421,023.00) (1,051,031.00) (610,615.00) (529,507.00)
Actual contributions
Net asset / (liability) recognised in the Balance Sheet
Present value of defned beneft obligation 5,655,170.00 2,919,862.00 4,653,968.00 2,225,747.00
Funded status [Surplus / (Defcit)] 901,965.00 835,925.00 1,001,202.00 694,115.00
Net asset / (liability) recognised in the Balance Sheet 6,557,135.00 3,755,787.00 5,655,170.00 2,919,862.00
Note 26 Disclosures under Accounting Standards (contd.)
Rs.
Particulars For the year ended
31st March, 2013
For the year ended
31st March, 2012
Gratuity Other defned
beneft
plans (Leave
Encashment)
Gratuity Other defned
beneft
plans (Leave
Encahsment)
Change in defned beneft obligations (DBO) during the year
Present value of DBO at beginning of the year 5,655,170.00 2,919,862.00 4,653,968.00 2,225,747.00
Current service cost 1,197,064.00 932,996.00 1,038,230.00 874,831.00
Interest cost 486,345.00 251,108.00 372,317.00 178,060.00
Curtailment cost / (credit) - (224,362.00) -
Actuarial (gains) / losses 639,579.00 426,442.00 201,270.00 170,731.00
Past service cost - 500,772.00 - -
Benefts paid (1,421,023.00) (1,051,031.00) (610,615.00) (529,507.00)
Present value of DBO at the end of the year 6,557,135.00 3,755,787.00 5,655,170.00 2,919,862.00
Actuarial assumptions
Discount rate 8.00% 8.00% 8.60% 8.60%
Salary escalation 7.50% 7.50% 7.50% 7.50%
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
53 30th Annual Report 2012-2013
Note 27 Disclosures under Accounting Standards (contd.)
Particulars
Segment information
The Company has identifed business segments as its primary segment and geographic segments as its secondary segment. Business segments are primarily
Packaging,Textile and Real Estate. Revenues and expenses directly attributable to segments are reported under each reportable segment. Expenses which are not directly
identifable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. Assets and liabilities that are directly
attributable or allocable to segments are disclosed under each reportable segment. Fixed assets that are used interchangeably amongst segments are not allocated to
primary and secondary segments. Geographical revenues are allocated based on the location of the customer. Geographic segments of the Company are India and Others.
Particulars For the year ended
31st March, 2013
Business segments Total
PACKAGING TEXTILE REAL ESTATE Eliminations
Rs. Rs. Rs. Rs. Rs.
Revenue 1,569,436,573.93 - - - 1,569,436,573.93
(1,820,077,501.97) (-) (-) (-) (1,820,077,501.97)
Inter-segment revenue - - - - -
(-) (-) (-) (-) (-)
Total 1,569,436,573.93 - - - 1,569,436,573.93
(1,820,077,501.97) (-) (-) (-) (1,820,077,501.97)
Segment result 12,986,898.76 -2316310.30 -8,275,062.05 - 5,905,463.51
(101,249,718.79) (-) (-4467523.81) (-) (94,564,005.98)
Unallocable expenses (net) -
(-)
Operating income 5,905,463.51
(94,564,005.98)
Other income (net) 9,100,573.08
(4,362,461.33)
Proft before taxes 15,006,036.59
(98,926,467.31)
Tax expense 4,077,058.00
(38,654,087.00)
Net proft for the year 10,928,978.59
(60,272,380.31)
Minority Interest 199,434.00
(-1062323.00)
Net Proft for the year excluding Minority Interest 10,729,544.59
(-61334703.31)
Note 27 Disclosures under Accounting Standards (contd.)
Note
Particulars “For the year ended
31st March, 2013”
Business segments Total
PACKAGING TEXTILE REAL ESTATE
Rs. Rs. Rs. Rs.
Segment assets 1,946,009,335.89 151,750,097.47 655,699,945.58 2,753,459,378.94
(1,806,224,406.20) (173,913,200.47) (624,669,385.05) (2,604,806,991.72)
Unallocable assets - - - -
(-) (-) (-) (-)
Total assets 1,946,009,335.89 151,750,097.47 655,699,945.58 2,753,459,378.94
(1,806,224,406.20) (173,913,200.47) (624,669,385.05) (2,604,806,991.72)
Segment liabilities 2,398,636,078.88 - 354,823,300.06 2,753,459,378.94
(2,276,471,123.89) (-) (328,335,867.83) (2,604,806,991.72)
Unallocable liabilities - - - -
(-) (-) (-) (-)
Total liabilities 2,398,636,078.88 - 354,823,300.06 2,753,459,378.94
(2,276,471,123.89) (-) (328,335,867.83) (2,604,806,991.72)
Other information
Capital expenditure (allocable) 105,080,325.51 - - 105,080,325.51
(18,686,084.00) (-) (-) (18,686,084.00)
Depreciation and amortisation (allocable) 82,878,233.72 - - 82,878,233.72
(76,343,358.34) (-) (-) (76,343,358.34)
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
54 30th Annual Report 2012-2013
Note 27 Disclosures under Accounting Standards (contd.)
Particulars
The geographic segments individually contributing 10 percent or more of the Company’s revenues and segment assets are shown separately:
Geographic Segment Revenues
For the year ended
31 March, 2013
Segment assets
As at
31 March, 2013
Capital expenditure
incurred during the
year ended 31 March,
2013
Rs. Rs. Rs.
India 1,441,009,883.41 2,753,459,378.94 -
(1,470,637,593.76) (2,604,806,991.72) (-)
Others 128,426,690.52 - -
(349,439,908.21) (-) (-)
Note: Figures in bracket relates to the previous year
Note 28 Related Party disclosure
As required by Accounting Standard - 18, “Related Party Disclosures”issued by the Institute of Chartered Accountants of India, relevant information is provided
here below:
28.1 Related parties with whom transactions have taken place during the year:
Name Relationship
Sh. H S Gupta Key Managerial Personnnel
Sh. Ashok Gupta Key Managerial Personnnel
Sh. Adit Gupta Key Managerial Personnnel
Mrs. Chitra Gupta Key Managerial Personnnel’s relative
Ms. Vidhi Gupta Key Managerial Personnnel’s relative
Ms. Mamta Gupta Key Managerial Personnnel’s relative
Mrs. Geetika Gupta Key Managerial Personnnel’s relative
Ashok Sons HUF Key Managerial Personnnel’s relative
Ashoka Productions and Communications (P) Limited Company in which KMP / Relatives of KMP can exercise signifcant infuence
Kadam Trees Properties (P) Limited Company in which KMP / Relatives of KMP can exercise signifcant infuence
AMD Estates & Developers Private Limited Subsidiary Company
28.2 Followings are the details of the transactions with the related party:
Nature of transaction Related Parties Amount in Rs.
Salaries, Allowance & Perquisites Key Managerial Personnnel 21,682,363.00
(30,129,744.00)
Salaries, Allowance & Perquisites Key Managerial Personnnel’s relative 2,303,400.00
(2,319,900.00)
Rent Paid Company in which KMP / Relatives of KMP can exercise signifcant infuence 3,960,000.00
(1,380,000.00)
Rent Paid Key Managerial Personnnel 9,729,000.00
(9,729,000.00)
Rent Paid Key Managerial Personnnel’s relative 1,380,000.00
(1,380,000.00)
Interest paid Company in which KMP / Relatives of KMP can exercise signifcant infuence 2,015,384.68
(4,773,121.00)
Interest paid Key Managerial Personnnel 2,756,996.00
(1,839,798.00)
Interest paid Key Managerial Personnnel’s relative 1,297,343.00
(3,274,608.00)
Repayment of Unsecured Loans Key Managerial Personnnel 4,971,977.00
(21,059,848.00)
Repayment of Unsecured Loans Company in which KMP / Relatives of KMP can exercise signifcant infuence 701,538.00
(34,477,312.00)
Repayment of Unsecured Loans Key Managerial Personnnel’s relative 30,000,000.00
(6,000,000.00)
Unsecured Loans Received Key Managerial Personnnel 42,156,996.00
(19,589,798.00)
Unsecured Loans Received Company in which KMP / Relatives of KMP can exercise signifcant infuence 2,015,384.68
(6,773,121.00)
Unsecured Loans Received Key Managerial Personnnel’s relative 2,400,000.00
(35,000,000.00)
Refund of Security provided against rent
of guest house
Company in which KMP / Relatives of KMP can exercise signifcant infuence -
(11,450,000.00)
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
55 30th Annual Report 2012-2013
28.3 Disclosure of Material Transactions:
Particulars Current Year Previous Year
Salaries, Allowance & Perquisite
Sh. H S Gupta ( Chairman) 7,317,954.00 10,045,156.00
Sh. Ashok Gupta ( Managing Director) 7,515,575.00 10,044,988.00
Sh. Adit Gupta ( Joint Managing Director) 6,848,834.00 10,039,600.00
Salaries, Allowance & Perquisite
Ms. Vidhi Gupta 1,151,700.00 1,151,700.00
Ms. Mamta Gupta 1,151,700.00 1,168,200.00
Rent Paid
Kadam Trees Properties (P) Limited 3,960,000.00 1,380,000.00
Sh. Ashok Gupta ( Managing Director) 1,035,000.00 1,035,000.00
Sh. Adit Gupta ( Joint Managing Director) 8,694,000.00 8,694,000.00
Mrs. Chitra Gupta 1,380,000.00 1,380,000.00
Interest Paid
Ashoka Productions and Communications (P) Limited 2,015,384.68 4,773,121.00
Sh. H S Gupta ( Chairman) 1,204,129.00 685,532.00
Sh. Ashok Gupta ( Managing Director) 966,309.00 762,984.00
Sh. Adit Gupta ( Joint Managing Director) 586,558.00 391,282.00
Mrs. Chitra Gupta 916,438.00 1,967,377.00
Mrs. Geetika Gupta 274,384.00 1,307,231.00
Ashok Sons HUF 106,521.00 -
Repayment of Unsecured Loans
Ashoka Productions and Communications (P) Limited 701,538.00 34,477,312.00
Sh. H S Gupta ( Chairman) 737,392.00 68,553.00
Sh. Ashok Gupta ( Managing Director) 3,823,775.00 14,952,167.00
Sh. Adit Gupta ( Joint Managing Director) 410,810.00 6,039,128.00
Mrs. Chitra Gupta 19,000,000.00 6,000,000.00
Mrs. Geetika Gupta 11,000,000.00 -
Unsecured Loans Received
Ashoka Productions and Communications (P) Limited 2,015,384.68 6,773,121.00
Sh. H S Gupta ( Chairman) 7,604,129.00 685,532.00
Sh. Ashok Gupta ( Managing Director) 26,966,309.00 16,012,984.00
Sh. Adit Gupta ( Joint Managing Director) 7,586,558.00 2,891,282.00
Mrs. Chitra Gupta - 25,000,000.00
Mrs. Geetika Gupta - 10,000,000.00
Ashok Sons HUF 2,400,000.00 -
Refund of Security provided against rent of guest house
Kadam Trees Properties (P) Limited - 11,450,000.00
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
56 30th Annual Report 2012-2013
Note 29 Disclosures under Accounting Standards (contd.)
Basic and diluted earnings per share are calculated by dividing the net proft or loss for the year attributable to equity shareholders by the weighted average
number of equity shares outstanding during the year. The company has not issued any potential equity shares, accordingly, basic and diluted earning per share
are the same.
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Earnings per share
(a) Proft after taxation and exceptional items 10,928,978.59 60,272,380.31
(b) Weighted average number of shares outstanding during the year 19,166,749.00 19,166,749.00
(c) Nominal Value per Share 10.00 10.00
(d) Basic and Diluted earning per share 0.57 3.14
Note 30 Disclosures under Accounting Standards (contd.)
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Deferred tax (liability) / asset
Tax effect of items constituting deferred tax liability
On difference between book balance and tax balance of fxed assets 83,616,435.00 90,480,591.00
Tax effect of items constituting deferred tax liability 83,616,435.00 90,480,591.00
Tax effect of items constituting deferred tax assets
Provision for compensated absences, gratuity and other employee benefts 2,127,463.00 2,926,203.00
Unabsorbed Depreciation Carried Forward 155,480.00 -
Brought Forward Business Losses 2,476,957.00 -
On items included in Reserves and surplus pending amortisation into the Statement of Proft and Loss - 2,897,656.00
Tax effect of items constituting deferred tax assets 4,759,900.00 5,823,859.00
Net deferred tax (liability) / asset (78,856,535.00) (84,656,732.00)
Note 31 Disclosures under Accounting Standards (contd.)
Particulars
Details of provisions
The Company has made provision for various contractual obligations and disputed liabilities based on its assessment of the amount it estimates to incur to meet
such obligations, details of which are given below:
Particulars As at
1st April, 2012
Additions Utilisation Reversal
(withdrawn as no
longer required)
As at
31st March, 2013
Rs. Rs. Rs. Rs. Rs.
Provision for other contingencies:
(i) Sales Tax Demand for the Year 1999-2000 to
2006-2007
4,100,000.00 - - - 4,100,000.00
(4,100,000.00) - - - (4,100,000.00)
(ii) Entry Tax for the Year 2004-2005 and
2005-2006
1,900,000.00 - - - 1,900,000.00
(1,900,000.00) - - - (1,900,000.00)
Total 6,000,000.00 - - - 6,000,000.00
(6,000,000.00) - - - (6,000,000.00)
Note: - Figures in brackets relate to the previous year.
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
57 30th Annual Report 2012-2013
Note 32 Additional information to the fnancial statements
Note Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
32.1 Contingent liabilities and commitments (to the extent not provided for)
(i) Contingent liabilities
(a) Claims against the Company not acknowledged as debt Nil Nil
(b) Guarantees - Corporate Guarantee for Subsidiary Company i.e. AMD Estates and
Developers (P) Limited
230,000,000.00 230,000,000.00
(c) Other money for which the Company is contingently liable against pending legal cases
- Sales Tax Matters 19,510,149.00 19,001,276.00
- Entry Tax Matters 2,285,409.00 2,285,409.00
- Excise Matters 10,425,252.00 1,041,360.00
- Labour Dispute 522,000.00 522,000.00
32,742,810.00 22,850,045.00
32.2 The Company has not received any Memorandum, (as required to be fled by the supplier which are registered with the Notifed Authority under the
provisions of the Micro, Small & Medium Enterprises Development Act, 2006) claiming their status as on 31st March 2013 as Micro, Small and Medium
Enterprise. Consequently, interest paid/payable to these parties during the year is NIL.
32.3 Disclosure as per Clause 32 of the Listing Agreements with the Stock Exchanges
Loans and advances in the nature of loans given to subsidiaries without any specifc repayment schedule:
Name of the party Relationship Amount outstanding as
at 31 March, 2013
Maximum balance
outstanding during
the year
AMD Estates & Developers (P) Limited Subsidiary 56,464,201.00 56,464,201.00
(47,584,398.00) (69,228,085.17)
Note: Figures in bracket relate to the previous year.
Note 32 Additional information to the fnancial statements
Note Particulars
32.4 Details on derivatives instruments and unhedged foreign currency exposures
I. The following derivative positions are open as at 31 March, 2013. These transactions have been undertaken to act as economic hedges for the
Company’s exposures to various risks in foreign exchange markets and may / may not qualify or be designated as hedging instruments.
(a) Forward exchange contracts and options [being derivative instruments], which are not intended for trading or speculative purposes but for hedge
purposes to establish the amount of reporting currency required or available at the settlement date of certain payables and receivables.
(i) Outstanding forward exchange contracts entered into by the Company as on 31 March, 2013
Currency Amount Buy / Sell Cross currency
USD 424,425.68 Buy Rupees
USD (612,877.74) Buy Rupees
USD 500,000.00 Sell Rupees
USD (2,836,482.32) Sell Rupees
Note: Figures in brackets relate to the previous year
II. The year-end foreign currency exposures that have not been hedged by a derivative instrument or otherwise are given below:
As at 31st March, 2013 As at 31st March, 2012
Receivable/(Payable) Receivable/(Payable)
in Foreign currency
Receivable/(Payable) Receivable/ (Payable)
in Foreign currency
Rs. (indicate amount with
currency)
Rs. (indicate amount with
currency)
24506774.00 USD 450580.80 Nil Nil
1798628.00 EURO 25863.24 Nil Nil
(111142512.00) (USD 929965.80) (47573795.00) (USD 929965.80)
(1046912.00) (EURO 15054) (14925522.00) (EURO 218400)
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
58 30th Annual Report 2012-2013
Note 32 Additional information to the fnancial statements
Note Particulars
32.5 Value of imports calculated on CIF basis : As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Raw materials 497,543,610.31 490,364,583.95
Spare parts 1,132,590.59 3,342,847.58
Capital goods 67,438,570.50 10,553,037.25
32.6 Expenditure in foreign currency : As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Commission 1,320,248.70 2,605,271.00
Others ( Travelling Expenses etc.) 3,553,732.00 803,616.36
32.7 Details of consumption of imported and indigenous items For the year ended
31 March, 2013
Rs. %
Imported
Raw materials 392,618,081.31 40.63
(484,283,904.08) (47.46)
Total 392,618,081.31 40.63
(484,283,904.08) (47.46)
Indigenous
Raw materials 573,595,527.32 59.37
(536,054,012.91) (52.54)
Total 573,595,527.32 59.37
(536,054,012.91) (52.54)
Note: Figures / percentages in brackets relates to the previous year
As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
32.8 Earnings in foreign exchange:
Export of goods calculated on FOB basis 128,426,690.52 349,439,908.21
32.9 Dividend
Borad of Directors have proposed Dividend of Rs. 0.90 Per share on Paid up Share capital of 19166749 equity shares. The distribution of the Dividend is
subject to approval by the shareholders.
Note 33 Previous year’s fgures
Previous year’s fgures have been regrouped / reclassifed wherever necessary to correspond with the current year’s classifcation / disclosure.
As per our report of even date attached
For Suresh & Associates For and on behalf of the Board of Directors
FRN No. 003316N
Chartered Accountants
(CA Suresh K. Gupta) (Ashok Gupta) (Adit Gupta)
Partner Managing Director Jt. Managing Director
Membership No.080050 DIN - 00031630 DIN - 00238784
(CA Laxmi Kant) (Joylin Jain)
DGM - Finance & Accounts Company Secretary
Place : New Delhi
Date : 28.05.2013
AMD Industries Limited (Consolidated) AMD Industries Limited
59 30th Annual Report 2012-2013
Particulars For the year ended
31st March, 2013
For the year ended
31st March, 2012
Rs. Rs. Rs. Rs.
A. Cash fow from operating activities
Net Proft / (Loss) before extraordinary items and tax 15,006,036.59 98,926,467.31
Adjustments for:
Depreciation and amortisation 82,878,233.72 76,343,358.34
(Proft) / loss on sale / write off of assets (8,774.29) (24,143,537.03)
Finance costs 101,032,399.80 107,345,584.29
Interest income (5,914,607.64) (2,346,855.41)
Dividend income (14,450.98) (18,900.00)
Rental income from investment properties (2,040,000.00) (1,680,806.00)
Adjustments to the carrying amount of investments 3,152,087.27 38,300.00
Net unrealised exchange (gain) / loss (8,037.30) 179,076,850.58 (11,115.15) 155,526,029.04
Operating proft / (loss) before working capital changes 194,082,887.17 254,452,496.35
Changes in working capital:
Adjustments for (increase) / decrease in operating assets:
Inventories (234,876,922.84) 87,295,346.59
Trade receivables 56,630,553.39 (105,919,538.07)
Short-term loans and advances (61,697,837.48) (13,048,529.95)
Long-term loans and advances 2,829,031.08 928,170.00
Other current assets 107,926,923.99 77,648,485.55
Adjustments for increase / (decrease) in operating liabilities:
Trade payables 87,209,097.48 (131,833,822.30)
Other current liabilities 66,407,669.93 27,996,827.93
Other long-term liabilities (102,075.00) 498,449.00
Short-term provisions (112,879,254.01) (56,554,035.86)
Long-term provisions 1,737,890.00 (86,814,923.46) 1,695,317.00 (111,293,330.11)
107,267,963.71 143,159,166.24
Cash fow from extraordinary items - -
Cash generated from operations 107,267,963.71 143,159,166.24
Net income tax (paid) / refunds (16,964,714.30) (25,622,744.12)
90,303,249.41 117,536,422.12
Net cash fow from / (used in) operating activities (A) 90,303,249.41 117,536,422.12
Cash Flow Statement for the year ended 31 March, 2013
B. Cash fow from investing activities
Capital expenditure on fxed assets, including capital advances (105,080,325.50) (18,685,684.00)
Proceeds from sale of fxed assets 66,500.00 30,170,980.00
Inter-corporate deposits (net) 1,313,846.68 (27,704,191.00)
Purchase of long-term investments
- Others - (500,000.00)
Loans given
- Associates 12,217,821.00 (27,059,848.00)
Loans realised
- Associates 24,967,198.00 44,589,798.00
Interest received
- Others 5,914,607.64 2,346,855.41
Dividend received
- Others 14,450.98 18,900.00
Rental income from investment properties 2,040,000.00 (58,545,901.20) 1,680,806.00 4,857,616.41
Cash fow from extraordinary items - -
(58,545,901.20) 4,857,616.41
Net cash fow from / (used in) investing activities (B) (58,545,901.20) 4,857,616.41
AMD Industries Limited (Consolidated) AMD Industries Limited
60 30th Annual Report 2012-2013
Particulars For the year ended
31st March, 2013
For the year ended
31st March, 2012
Rs. Rs. Rs. Rs.
C. Cash fow from fnancing activities
Proceeds from long-term borrowings 402,371,174.00 9,005,251.90
Repayment of long-term borrowings (234,237,042.84) (171,543,423.39)
Net increase / (decrease) in working capital borrowings (76,119,185.31) 83,069,071.53
Finance cost (101,032,399.80) (107,345,584.29)
Dividends paid (19,166,749.00) (19,166,749.00)
Tax on dividend (3,109,326.00) (31,293,528.95) (3,183,357.00) (209,164,790.25)
Cash fow from extraordinary items - -
(31,293,528.95) (209,164,790.25)
Net cash fow from / (used in) fnancing activities (C) (31,293,528.95) (209,164,790.25)
Net increase / (decrease) in Cash and cash equivalents (A+B+C) 463,819.26 (86,770,751.72)
Cash and cash equivalents at the beginning of the year 44,319,410.74 131,079,047.31
Effect of exchange differences on restatement of foreign
currency Cash and Cash Equivalents
8,037.30 11,115.15
Cash and cash equivalents at the end of the year 44,791,267.30 44,319,410.74
Reconciliation of Cash and cash equivalents with the
Balance Sheet:
Cash and cash equivalents as per Balance Sheet (Refer Note
17)
44,791,267.30 44,319,410.74
Less: Bank balances not considered as Cash and cash
equivalents as defned in AS-3 Cash Flow Statements (give
details)
- -
Net Cash and cash equivalents (as defned in AS 3 Cash Flow
Statements) included in Note 19
44,791,267.30 44,319,410.74
Add: Current investments considered as part of Cash and cash
equivalents (as defned in AS 3 Cash Flow Statements) (Refer
Note (ii) to Note 16 Current investments)
- -
Cash and cash equivalents at the end of the year * 44,791,267.30 44,319,410.74
* Comprises:
(a) Cash on hand 178,729.00 113,137.25
(b) Balances with banks
(i) In current accounts 4,006,179.42 9,675,866.39
(ii) In EEFC accounts 310,044.58 583,515.10
(iii) In earmarked accounts (give details) (Refer Note (ii) below) 40,109,759.00 33,802,504.00
(c) Others - Foreign Currency in hand 186,555.30 144,388.00
44,791,267.30 44,319,410.74
Notes:
(i) The Cash Flow Statement refects the combined cash fows pertaining to continuing and discounting operations.
(ii) These earmarked account balances with banks can be utilised only for the specifc identifed purposes.
As per our report of even date attached
For Suresh & Associates For and on behalf of the Board of Directors
FRN No. 003316N
Chartered Accountants
(CA Suresh K. Gupta) (Ashok Gupta) (Adit Gupta)
Partner Managing Director Jt. Managing Director
Membership No.080050 DIN - 00031630 DIN - 00238784
(CA Laxmi Kant) (Joylin Jain)
DGM - Finance & Accounts Company Secretary
Place : New Delhi
Date : 28.05.2013
Cash Flow Statement for the year ended 31 March, 2013 (Contd.)
AMD Industries Limited AMD Industries Limited
61 30th Annual Report 2012-2013
NOTE
Regd. Office : 18, Pusa Road First Floor, Karol Bagh, New Delhi-110 005
Regd. Office : 18, Pusa Road First Floor, Karol Bagh, New Delhi-110 005
ATTENDANCE SLIP
PROXY FORM
Folio No./DP ID/Client ID #
No. of Equity Shares held
I hereby record my presence at the 30 Annual General Meeting of the Company being held at Daffodils
Hotels, Tania Farms Complex, Chattarpur Mandir Road, Satbari Village, New Delhi-110 030, on Tuesday the
24 September, 2013 at 10.30A.M.
th
th
Name of the Shareholder
(in block letter)
Name of Proxy/Authorised
Representative attending* (in block letter)
Signature of the Shareholder or Proxy
*Strike out whichever is not applicable
# Applicable for investors holding shares in dematerialised form
Notes : Please produce this Admission Slip duly filled and signed at the entrance of the meeting hall.
Shareholders intendingtoappoint a proxy may use the Proxy Formgivenbelow.
Signature of the attending Shareholder/Proxy/Authorised Representative*
I / We...........................................................................................................................................................
of.......................................................... being a member / members of AMD Industries Ltd. hereby appoint
Shri/Smt./Km...................................... ................................... of .................................................................. or
failing him Shri/Smt./Km./....................................................of................................................................... or
failing him Shri/Smt./Km./....................................................of................................................................... as my /
our proxy in my / our absence to attend and vote for me / us and on my / our behalf at the 30 Annual General
Meeting of the Company to be held at Daffodils Hotels, Tania Farms Complex, Chattarpur Mandir Road, Satbari
Village, NewDelhi-110 030 onTuesday, the 24 September, 2013 at 10.30A.M. and at any adjournment thereof.
th
th
Signed this................ day of ...................2013
Folio No./DP ID/Client ID #
No. of Equity Shares held
Signature(s).....................................
Affix
Rupees 1/-
Revenue
Stamp
# Applicable for Shareholders holding shares in dematerialised form.
Notes : The proxy, in order to be effective, should be duly completed, stamped and signed and
must be deposited at the Registered Office of the Company at 18, Pusa Road, First Floor, Karol
Bagh, NewDelhi - 110 005, at least 48 hours before the scheduledtime.
AMD Industries Limited
AMD Industries Limited
An effort towards Corporate Social Responsibility : An effort towards Corporate Social Responsibility :
With the kind efforts of Mr. Harswarup Gupta,
the Chairman of the Company, the education
institution established under the name
“Keshav Madhav Saraswati Vidhya Mandir”
in highly backward and remote area at village
Kakore, Distt. Gautam Budh Nagar, Uttar
Pradesh has made its own recognition in the
area. With the continued efforts of the
Chairman the said education institution is
touching its new heights. The institution has
got the recognition upto 12 standard by the
th
Central Board of Secondary Education and
KESHAV MADHAV SARASWATI VIDHYA MANDIR, KAKORE (G.B. NAGAR) KESHAV MADHAV SARASWATI VIDHYA MANDIR, KAKORE (G.B. NAGAR)
nowchildren of the School are not required to
look for another school which is far away
place for their education beyond 10
standard. Inspite of having in the backward
area it has been achieving excellent result,
year to year. During the year the School has
organised a sports meet and historical tour
for enhancement of knowledge and interest
of students in the said areas. The
management has added more class rooms
due to increase in strength of students during
the year
th
AMD Industries Limited
18, Pusa Road, 1st Floor, Karol Bagh, New Delhi 110 005
Tel. : 91-11-28753136, 28750649/50
Fax : 91-11-28753591
email : [email protected]
Url : www.amdindustries.com
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To take on high growth track by establishing a strong and a supportive link in the total supply chain management of our associates.
Annual Repor t 2012- 2013
AMD Industries Limited
OURVISION
FINANCIAL INDICATORS FOR PAST 5 YEARS
To take on high growth track by establishing a strong and a supportive link in the total supply chain management of our
associates.
We at AMD are committed to control and improve quality, cost and delivery performance through continual improvement of
the quality management. We shall increase our market share year after year through improving customer satisfaction.
QUALITYPOLICY
TOTAL INCOME 15826.37 18269.84 14051 11691.08 9345.02
PBDIT 1838.22 2872.88 2537.6 2451.63 1972.48
PBT 226.15 1036.88 769.28 1080.13 696.88
Provision for taxation
Current 117.05 330 180 285.43 178.34
Deferred -31.65 24.03 19.7 161.45 179.18
PAT 159.03 650.32 577.32 654.39 339.35
Cash Profit^ 986.93 1412.85 1300.26 1215.6 820.75
Fixed Assets
Gross Block including Capital WIP 13793.77 12829.16 12741.94 12044.35 8960.78
Net Block 8692.73 8548.77 9186.14 9206.32 6663.11
Equity Share Capital 1916.67 1916.67 1916.67 1916.67 1916.67
Reverses & Surplus 9630.1 9671.55 9243.99 8890.91 8460.77
Networth 11546.77 11588.22 11160.66 10807.58 10377.45
EPS (Rs.) (Annualized) 0.83 3.39 3.01 3.41 1.77
Cash EPS (Rs.) (Annualized) 5.15 7.37 6.78 6.34 4.28
Book Value per share (Rs) 60.24 60.46 58.23 56.39 54.14
^Net of Deferred Tax Liability
PARTICULARS YEAR ENDED 31ST MARCH
2013 2012 2011 2010 2009
(RS. IN LACS)
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400
600
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Series
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2000
4000
6000
8000
10000
12000
14000
16000
18000
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52
54
56
58
60
62
2013 2012 2011 2010 2009
Book Value per share (Rs)
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2013 2012 2011 2010 2009
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Net Worth
: 2008
AMD Industries Limited AMD Industries Limited
BOARD OF DIRECTORS
Mr. H.S. Gupta
Chairman
Mr. Ashok Gupta
Managing Director
Mr. Adit Gupta
Joint Managing Director
Mr. Mahipal Ahluwalia
Independent Director
Mr. Seshadri Ratnam
Independent Director
Mr. Prabhat Krishna
Independent Director
COMPANY SECRETARY & COMPLIANCE OFFICER
Mr. Joylin Jain (Till 18
th
July 2013)
REGISTERED OFFICE
18, Pusa Road, 1
st
Floor, Karol Bagh, New Delhi-110 005
Tel.: 91-11-46830202
Fax : 91-11-28753591 Email : [email protected]
Url : www.amdindustries.com
MANUFACTURING UNITS
1) C-4&C-5, Site 3, Meerut Road, Indl. Area,
Ghaziabad, Uttar Pradesh
2) SP-32, RIICO Ind. Area, Neemrana,
Rajasthan
SUBSIDIARY COMPANIES
1) AMD Estates & Developers Pvt. Ltd.
2) Prime Techno Build Pvt. Ltd.
BANKERS
1) State Bank of India
2) Punjab National Bank
3) Union Bank of India
4) Kotak Mahindra Bank
5) Central Bank of India
STATUTORY AUDITORS
Suresh & Associates,
Chartered Accountants,
3A, Bigjos Tower, Netaji Subhash Place,
Pitam Pura, Delhi - 110 034
INTERNAL AUDITORS
B.L. Khandelwal & Co.
Chartered Accountants
1, Doctor’s Lane, Gole Market
New Delhi-110 001
LEGAL COUNSELS
Mr. Dinesh Kumar Gupta, Advocate
C-58, Vivek Vihar, Phase - I
New Delhi - 110095
SECRETARIAL AUDITORS
M/s AGG & Associates
Company Secretaries
21/16, 2
nd
Floor, West Patel Nagar
New Delhi - 110008
REGISTRAR & SHARE TRANSFER AGENTS
Bighshare Services Pvt. Ltd.
Head Offce
E-2/3, Ansa Industrial Estate,
Saki Vihar Road, Saki Naka, Mumbai - 400 072
Tel. : +91-22-28470652 Fax: +91-22-28525207
Branch Offce (Delhi)
4-E/8, First Floor, Jhandewalan Ext., New Delhi-110055
Tel. : 011-2352237
CORPORATE INFORMATION
AMD Industries Limited Page No.
Directors’ Report 1
Report on Corporate Governance 4
Auditors’ Certifcate on Corporate Governance 9
Secretarial Audit Report 9
Auditors’ Report 10
Balance Sheet 12
Proft & Loss Account 13
Cash Flow Statement 34
AMD Industries Limited (Consolidated)
Auditors’ Report 36
Balance Sheet 37
Proft & Loss Account 38
Cash Flow Statement 59
Proxy Form
CONTENTS
AMD Industries Limited AMD Industries Limited
1 30th Annual Report 2012-2013
DIRECTORS’ REPORT
Dear Shareholders,
Your Directors are pleased to present the 30
th
Annual Report together with
audited accounts for the fnancial year ended 31
st
March 2013.
Financial Results
The fnancial performance of the Company for the fnancial year ended 31
st
March, 2013 is summarized below:
OPERATIONS REVIEW
(Rs. in Lacs)
Particulars Financial Year
2012-13
Financial Year
2011-12
Net Sales/Income from Operation
(net of excise duty)
15374.15 17643.14
Other Operating Income 320.22 557.63
Other Income 132.00 69.07
Total 15826.37 18269.84
Proft from operations before Financial
Costs, Depreciation, Exceptional Items &
Tax Expenses
2064.29 2631.44
Financial Costs 1010.32 1073.46
Proft before Depreciation, Exceptional
Item & Taxation
1053.97 1557.99
Depreciation 827.90 762.53
Proft before Exceptional Items and Tax
Expenses
226.07 795.45
Exceptional Items .09 241.43
Proft before Tax 226.16 1036.89
Less: Tax Expenses 67.13 386.57
Net Proft for the year / Amount
available for Appropriation
159.03 650.32
Appropriations:
General Reserve Nil Nil
Dividend on Equity Shares 172.50 191.67
Tax on Dividend 27.98 31.09
Balance Carried to Balance Sheet -41.45 427.56
TOTAL 159.03 650.32
Packaging Business:
During the year under review your Company registered a total turnover and other
income of Rs. 15826.37 Lacs as compared to previous year’s turnover and other
income of Rs. 18269.84 Lacs a decline of 13.37% over the previous year. The
Company registered a Proft before Financial Costs, Depreciation & Taxation of
Rs. 2067.49 Lacs (excluding income from exceptional items) as compared to Rs.
2631.44 Lacs (excluding income from exceptional items) recording a decline of
21.43% (approx.), whereas Net Proft at Rs. 162.23 Lacs as compared to Rs.
650.32 Lacs the previous year, which shows a decrease of 81.28% (approx.).
The decline in profts is due to rise in production costs, mainly rise in power and
fuel costs, further the conversion rate also did not match with the such hike. The
decline in the sales has effected due to sharp decline in export, which in turn has
eroded heavily the profts of the year. This decline is mainly in the export of Crown
Caps from 94062.49 cases is 2011-12 to 22083.32 cases in 2012-13.
Textile Business:
The market scenario for the textile industry in the country as a whole remained
continuously discouraging. The Company remained on the same policy of
putting on hold the Textile project.
Real Estate Business:
The real estate market of the country has been showing stagnant growth.
Development of Commercial Complex on the land of Company’s subsidiary
AMD Estates & Developers Private Limited situated at Sector-114, Gurgaon,
Haryana has been started, in which Company also holds interest, which is being
carried out by VSR Infratech Private Limited, New Delhi under the Collaboration
Agreement for the said development.
DIVIDEND
Despite of fact of Company’s inadequate profts for the fnancial year 2012-13, as
a policy of the Company, your Directors are pleased to recommend a dividend of
Re. 0.90 (Ninety Paise Only) per equity share of face value of Rs. 10/- each for
the fnancial year 2012-13, which shall be paid out of reserves of the Company
created out of profts of the previous years in accordance with the provisions
of the Companies (Declaration of Dividend out of Reserves) Rules, 1975. The
dividend, if approved and declared at the ensuing Annual General Meeting will be
paid to those shareholders whose name shall appear on the register of members
of the Company as on the date of Book Closure to be notifed.
FIXED DEPOSITS
During the fnancial year 2012-13, your Company has not invited or accepted
any deposits from the public within the meaning of provisions of Section 58A of
the Companies Act, 1956.
MANAGEMENT DISCUSSION AND ANALYSIS
Your Company has put in efforts and strengthened its place in terms of Country’s
share for providing packaging range to the soft drinks and other beverages
industry. Company’s plants at both the places, i.e. at Ghaziabad, Uttar Pradesh
and Neemrana, Rajasthan, are in operations.
Your Company continued catering to the packaging needs of Beverages Industry
of the country by way of supplying packaging for carbonated soft drinks (CSD),
mineral waters, beer etc. Major chunk of Company’s supply remained to beverages
Industry which is growing at about 18% per annum and alcoholic beverages
industry mainly beer which is growing at a rate of about 10% per annum. The
Company is looking to new market segments such as fruit juices, milk products,
edible oil etc. and other cosmetics items which is slowly moving to packaging
items remained the same and your Company is capable of manufacturing of
those packaging. Your Company therefore, expects development of new market
segments in the years to come and making continuous efforts in that direction.
Due to adverse market scenario of Textile Industry in India, the project
undertaken by the Company for setting up of integrated Textile Unit at Distt.
Haridwar, Uttarakhand has continued to be kept on hold for the time being.
The real estate sector has been showing stagnant growth for some time now. The
development of commercial complex at the land of Company’s subsidiary AMD
Estates & Developers Private Limited situated at Sector 114, Gurgaon, Haryana
for which the said subsidiary had entered into a collaboration agreement with
VSR Infratech Private Limited, has been started and is progressing slowly in
which Company holds interest.
INDUSTRY SECTORS
PACKAGING
The packaging industry supplying packing solutions to beverages industry are
mainly divided into two formats viz., PET Bottles and Glass Bottles.
PET Bottles are also divided into two segments such as Plastic Closures and PET
Preforms. Plastic Closures are mainly used in CSD PET Bottles for beverages,
mineral water and juices. The requirements of closures with respect to design
and quality depend upon the need of the end-user. PET Bottles required by the
Beverages Industry are being manufactured & supplied by the Packaging Industry
in Preform shapes and being blown-up at the time of flling beverages. Various
other end-users have also started using plastic bottles as packaging medium.
The usage of PET Bottles shows an increasing trend in products like edible oil,
personal care products, pharmaceuticals and confectioneries. The usage of PET
Bottles in Alcoholic Beverages Industry is also on the rise.
Glass bottles used as a packaging item requires crown caps as closure.
Your Company manufactures Crown Caps which are mainly used as metallic
closures for various edible items packed in glass bottles e.g. Carbonated Soft
Drinks, Beer, Juices, Sauces, Ready-to-drink Milk products etc.
REAL ESTATE
The Real Estate market is mainly divided into two zone one is the residential and
the other is commercial. Your company possesses interest in Commercial land.
OUTLOOK
PACKAGING
The Overall Beverage Packaging Industry is growing at over 12% per annum.
The continued trend of shifting customer base from glass bottles to PET Bottles
is being seen in a positive note.
Segment Wise/ Product Wise Review
CROWNS CAPS
The use of glass bottles has been seen steady or little bit de-growth whereby
the use of Returnable Glass Bottle (RCB) has been seen in reducing trends.
Due to which crown market has been recording a sharp negative growth as a
packaging item. In order to offset this, your Company is making vigorous efforts
to explore the export market. Though the export has declined sharply in this
year, the efforts are being continued to increase the share of exports by fnding
new markets abroad.
However, AMD remained one of the dominant players in the crown caps market
having approx. 15% market share during the year under review. The Company
expects the increase in sales in domestic market in year to come.
AMD Industries Limited AMD Industries Limited
2 30th Annual Report 2012-2013
PLASTIC CLOSURES
The plastic closure market has been continuously getting its momentum due
to increased usage of PET Bottles. The organized market is still dominated by
the CSD but it is expected that other usage will also form signifcant share of
the over all market.
The demand of plastic closures will increase in segments where PET Bottles
are gaining foothold as packaging media like water, juices, edible oil etc.
PET PREFORMS
With the expansion of putting up of one line of Preform at works at Neemrana,
Rajasthan the Company’s market share in PET Preform market has also
increased and after its successful start, the Company has planned to install
6
th
PET Preform line at its same works and expect to install the same by the
mid of June, 2013 which will further strengthen the production, but due to
having seasonal nature of the business the growth will be refected in 2014. It
will further increase the productions capacity of the Company. The packaging
Industry in PET segment has been growing by over 15-20%.
Risk and Concerns
PACKAGING
Increase in raw material cost and pressure on margins have a bearing on the
proftability of packaging industry in totality. The Company is likely to be affected
by change in governmental policies related to usage of end products.
However, the Company has established itself as quality supplier to its clients
and is accepted as reliable player in the industry thereby not only retaining its
base but increasing it as well.
Adequacy of Internal Control Systems
The Company has adequate internal control system commensurate with the
size of the company. The Company has appointed M/s B.L. Khandelwal & Co.,
Chartered Accountants, New Delhi, as the Internal Auditor of the Company to
carry out the internal audit of the activities of all the divisions of the Company at
regular intervals. Their audit reports along with action taken reports thereon are
reviewed by the Audit Committee of Directors.
Material Development in Terms of Human Resources
Human Resources are considered to be a form of capital and wealth of the
Company. It has been the focus of the management to improve and expand
the contribution of its human resources towards attainment of organizational
goals and values. The growth of the Company and improvement in the systems
has been sustained by the active involvement of the employees with the
Management. The technical expertise of the Management has been shared with
the employees at the works, which keeps them motivated to meet and surpass
the set targets.
Cautionary Statement
Statement in the Management Discussion & Analysis, describing the Company’s
objectives, projections and estimates are forward looking statements and
progressive within the meaning of applicable laws and regulations.
Actual results may vary from those expressed or implied, depending upon the
economic conditions, Government policies and other incidental factors.
DIRECTORS
Mr. Harswarup Gupta, Executive Chairman (WTD) of the Company retires
by rotation and being eligible offers himself for re-appointment at the ensuing
Annual General Meeting.
Mr. Seshadri Ratnam, Independent Director of the Company retires by rotation
and being eligible offers himself for re-appointment at the ensuing Annual
General Meeting.
DIRECTORS’ RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217 (2AA) of the Companies Act,
1956, with respect to Directors Responsibility Statement, it is hereby confrmed:
A. that in the preparation of Annual Accounts for the fnancial year 2012-
13, the applicable Accounting Standards have been followed along with
proper explanations relating to material departures, if any;
B. that the directors have selected such accounting policies and applied them
consistently and made judgments & estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of the Company
as at 31
st
March, 2013 and of the proft or loss of the Company for that period;
C. that the directors had taken proper & suffcient care for the maintenance
of adequate accounting records in accordance with the provisions of The
Companies Act, 1956, for safeguarding the assets of the Company and for
preventing & detecting the fraud and other irregularities;
D. that the directors had prepared the Annual Accounts for the fnancial year
2012-13 on a “going concern basis”.
CORPORATE GOVERNANCE REPORT
Your Company reaffrms its commitment to the good corporate governance
practices. A detailed report on the Corporate Governance as required
pursuant to Clause 49 of the Listing Agreement forms part of the Annual
Report. Certifcate from the Auditors of the Company, confrming compliance
of conditions of Corporate Governance as stipulated under the Clause 49, is
annexed to this Report.
AUDITORS
The Statutory Auditors of the Company M/s. Suresh & Associates, Chartered
Accountants, New Delhi retire at the ensuing Annual General Meeting and have
confrmed their eligibility and willingness to accept offce of Statutory Auditors of
the Company, if reappointed. The Audit Committee and the Board of Directors
recommend to the shareholders for their approval the appointment of M/s.
Suresh & Associates, Chartered Accountants, as the Statutory Auditors of the
Company for the fnancial year 2012-13.
AUDIT OF COST ACCOUNTING RECORDS
Pursuant to the Order No. F No, 5/26/CAB-2010 dated 24
th
January, 2012 of
Ministry of Corporate Affairs, GOI, which made it mandatory for the Company to get
its Cost Accounting Records audited, for each fnancial year w.e.f. 01
st
April, 2012,
by a Cost Accountant holding valid certifcate of practice as such, the Company has
appointed M/s Aggrawal Ashwani K. & Associates, Cost Accountants, New Delhi for
carrying out the audit of cost accounting records of the Company for F.Y. 2012-13.
The Cost Auditors are required to submit their report with the Central Government
within 180 days from the end of respective fnancial year with a copy of the same to
be provided to the Company. For the F.Y. 2012-13 the Cost Audit Report fling due
date is 30
th
September, 2013. Since the said fnancial year is the frst year for the
audit of the Cost Accounting Records of the Company and submission of the Cost
Report by the Cost Auditor, the report for the same yet to be fled.
SUBSIDIARY COMPANIES:
The Ministry of Company Affairs, Government of India vide its Circular No.
5/12/2007-CL-III dated 8
th
February, 2011 has granted general exemption under
Section 212(8) of the Companies Act, 1956, from attaching the balance sheet,
proft and loss account and other documents of the subsidiary companies to the
balance sheet of the Company, as required under section 212, subject to the
fulfllment of certain conditions by the Company. Further as required under the
said Circular, the Company undertakes that the annual accounts of its subsidiary
companies and the related detailed information shall be made available to the
shareholders of the holding and subsidiary companies seeking such information
at any point of time. The annual accounts of the subsidiary companies shall also
be kept for inspection by any shareholders in the Head Offce of the Company
at Delhi and of subsidiary companies concerned.
As required in the above said Circular and the current listing norms, Consolidated
Financial Statements of the Company and its subsidiaries are being published
in the current year’s Annual Report.
DE-SUBSIDIARISATION OF AMD ESTATES & DEVELOPERS PVT LIMITED:
The real estates sector has been showing stagnant growth for some time. The
Directors has decided to unlock the funds so invested in the equity shares of
its subsidiary AMD Estates & Developers Pvt. Ltd. by sell off of the same. The
funds so unlocked would be utilized in easing out the funds liquidity problem of
the Company and partially in retiring company’s debt which in turn will reduce
to some extent the fnancial costs of the Company thereby increase profts or
for such other purposes as the directors may decide in the best interest of the
Company and its shareholders.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION & FOREIGN
EXCHANGE
A. Conservation of Energy
Energy conservation, wherever possible, is being implemented. However,
continuous efforts to conserve and optimize the use of energy through
improved operational methods and other means have always been the
endeavour of the Company to implement.
B. Technology Absorption
The Company believes that technological obsolescence is practical
reality. Our research and development activities will help us gear for future
opportunities. We invest and encourage continuous innovation.
C. Foreign Exchange Earning & Outgo
Company has been continuously making efforts to increase its export.
During the year under consideration, the Company has used Foreign
Exchange equivalent to Rs.3926.18 Lacs (previous year Rs 4842.84
Lacs) and earned Foreign Exchange equivalent to Rs. 1284.27 Lacs
(previous year Rs. 3494.40 Lacs).
PARTICULARS OF EMPLOYEES
A list of the employees of the Company who were in receipt of the such remuneration
during the fnancial year 2012-13 which requires to be disclosed in this report under
Section 217 (2A) of the Companies Act, 1956 read with Companies (Particulars of
Employees) Rules, 1975 as amended upto date is annexed herewith as Annexure-I.
ACKNOWLEDGEMENT
Your Directors take this opportunity to express their sincere appreciation of the
cooperation and support extended by the Shareholders, Bankers, Financial
Institutions, Government Departments, Regulatory Bodies, Customers and
other Business Constituents during the year under review.
Your Directors wish to place on record their appreciation for the committed
services of the executives, staff and workers of the Company.
On behalf of the Board of Directors
Place: New Delhi Harswarup Gupta
Date: 28
th
May, 2013 Chairman
AMD Industries Limited AMD Industries Limited
3 30th Annual Report 2012-2013
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AMD Industries Limited AMD Industries Limited
4 30th Annual Report 2012-2013
Report on Corporate Governance
Pursuant to Clause 49 of the Listing Agreement, Report on Corporate Governance is attached and forms part of the Directors Report.
1. Company’s Philosophy on Code of Corporate Governance
Corporate Governance is an integral part of values, ethics and best business practices followed by the Company. It envisages attainment of highest levels of
transparency, accountability and equity in all facets of its operations and in all its interactions with its stakeholders, including shareholders, employees, lenders
and the Government. The core values of the Company are:
• Commitment to excellence and customer satisfaction.
• Maximizing long term shareholders worth.
• Socially valued enterprise and
• Caring for people and environment.
2. Board of Directors
The Board of Directors of the Company comprised of six Directors out of which there are three Promoter Directors and three Independent Directors. Composition
of the Board and category of Directors are as follows:
I Composition of the Board
S.No. Name of Director Designation Category
1. Mr. Harswarup Gupta Chairman Executive Director
2. Mr. Ashok Gupta Managing Director Executive Director
3. Mr. Adit Gupta Jt. Managing Director Executive Director
4. Mr. Mahipal Ahluwalia Independent Director Non-Executive Director
5. Mr. Seshadri Ratnam Independent Director Non-Executive Director
6. Mr. Prabhat Krishna Independent Director Non-Executive Director
II Attendance of Directors at Board Meetings, last Annual General Meeting and number of other Directorships and Chairmanships/Memberships
of Committees of each Director in various companies
Name of Director Attendance of meetings during
2012-13
Number of other Directorships in
other Public Companies as on
31.3.2013
Number of Memberships/
Chairmanships of Committees of
other Companies
Board Meetings Last AGM No
Mr. Harswarup Gupta 2 Yes 1 Nil
Mr. Ashok Gupta 4 Yes 1 Nil
Mr. Adit Gupta 3 Yes 1 Nil
Mr. Mahipal Ahluwalia 4 No 0 Nil
Mr. Seshadri Ratnam 2 No 0 Nil
Mr. Prabhat Krishna 4 Yes 1 01
III Details of the meetings of the Board of Directors of the Company held during 2012-13.
S.No. Date of Board Meeting Total Strength of Board No. of Directors Present at the Meeting
1. 23-05-2012 6 5
2. 07-08-2012 6 5
3. 01-11-2012 6 4
4. 14-02-2013 6 5
IV. Code of Conduct
The “Code of Conduct” is already circulated and posted on the Company’s website. The persons concerned have given their declarations for compliance
with the code for the fnancial year ended 31
st
March, 2013.
3. Audit Committee
Pursuant to terms of reference as prescribed under Clause 49 and Section 292A of the Companies Act, 1956, the Audit Committee of the Company has been
duly constituted. The terms of reference, inter alia, include the Company’s fnancial reporting process, disclosures of all the information to ensure that the
fnancial statements are correct, suffcient and credible, reviewing annual and quarterly statement before submission to the Board and reviewing the adequacy
of internal control systems with the management, the external and the internal Auditor.
The Audit committee reviews with management and also with the statutory and internal auditors, all aspects of the fnancial results, effectiveness of internal
audit / processes, taxation matters and other key areas. The audit committee also recommends the appointments and remuneration of the internal auditors,
statutory auditors and cost auditor to the Board considering independence and effectiveness.
I. Composition of Audit Committee
S.No. Name of Member Designation in Committee Designation in Company
1. Mr. Prabhat Krishna Chairman Independent director
2. Mr. Mahipal Ahluwalia Member Independent director
3. Mr. Adit Gupta Member Jt. Managing Director
4. Mr. S. Ratnam Member Independent Director
AMD Industries Limited AMD Industries Limited
5 30th Annual Report 2012-2013
II Details of Audit Committee meetings
S.No. Date of the Meeting Total Strength of the Committee No. of Members present
1. 23-05-2012 4 4
3. 07-08-2012 4 4
3. 01-11-2012 4 2
4. 14-02-2013 4 3
4. Remuneration Committee:
I. Terms of reference of the Remuneration Committee
1. The committee shall consider, discuss and recommend to the Board of Directors the remuneration payable to Directors of the Company.
2. The Committee shall have a power to review the remuneration payable to Directors of the Company as and when considered necessary in line with
fnancial health of the Company vis-à-vis contribution made by them.
3. To perform or dispose of such other acts or obligations as may be referred or directed to it by the Board of Director of the Company.
II. Details of Composition of Remuneration Committee
S. No Name of Member Designation in Committee Designation in Company
1 Mr. S. Ratnam Chairman Independent Director
2 Mr. M. P. Ahluwalia Member Independent Director
3 Mr. Prabhat Krishna Member Independent Director
III. Details of Remuneration Committee meetings
S.No. Date of the Meeting Total Strength of the Committee No. of Members present
1. 23-05-2012 4 4
IV. Remuneration Policy
The remuneration policy of the Company subject to Section 198, 310 and the provisions of Schedule XIII of the Companies Act, 1956, is based on the
rewarding criteria where by each of the Director’s remuneration is determined according to its performance and contribution in the growth and fnancial
performance of the Company. The present industrial trends and precedence are also considered while determining the Remuneration.
V. Following are the details of remuneration payable
Remuneration paid to Managing / Executive / Wholetime Director of the Company are being paid as per terms of their appointments, the detail of
remuneration payable is stated herein below:
S.No. Name Designation Salaries &
Allowance
Other Benefts Commission Total
1. Mr. Harswarup Gupta Chairman 45,65,000 3,52,545 24,00,409 73,17,954
2. Mr. Ashok Gupta Managing Director 46,20,000 4,95,166 24,00,409 75,15,575
3. Mr. Adit Gupta Joint Managing Director 41,50,000 2,98,425 24,00,409 68,48,834
The Independent Directors are being paid a sitting fee of Rs. 20,000/- for attending each Board and Committee Meetings thereof. Sitting fees paid to the
Independent Directors during the fnancial year 2012-13 is detailed below:
S.No. Name of the Independent Director Sitting fees paid
(Rs. In Lacs)
1. Mr. M.P. Ahluwalia 0.75
2. Mr. S. Ratnam 0.35
3. Mr. Prabhat Krishna 0.75
5. Shareholders / Investors Grievances Committee
I. Details of Composition of Shareholders / Investors Grievance Committee
S. No Name of Member Designation in Committee Designation in Company
1 Mr. M. P. Ahluwalia Chairman Independent Director
2 Mr. Ashok Gupta Member Managing Director
3. Mr. Seshadri Ratnam Member Independent Director
3 Mr. Prabhat Krishna Member Independent Director
II. The name of Compliance Offcer:
Sh. Joylin Jain, Company Secretary of the Company is the Compliance Offcer.
III. Number of Shareholders complaints received during the fnancial year 2012-13.
Category Complaints Received Numbers of
Complaints Resolved
Complaints Pending
Non receipt of Annual Report 0 0 NIL
Non Receipt of Bonus Shares 1 1 NIL
Non receipt of Dividend Warrant 7 7 NIL
Total 8 8 NIL
AMD Industries Limited AMD Industries Limited
6 30th Annual Report 2012-2013
6. Management Committee
For transactions of routine business nature requiring the approval of the Board, the Board of Directors constituted a Committee under nomenclature , “Management
Committee” to have speedy approval system. The following members of the Board have been nominated as the Chairman/ Member of the said Committee.
1. Mr. Harswarup Gupta Chairman
2. Mr. Ashok Gupta Member
3. Mr. Adit Gupta Member
The Committee shall meet as and when some business of routine nature is required to be approved. Mr. Joylin Jain shall act as Secretary to the Committee.
7. General Body Meetings
I. Details of last three Annual General Meetings
Date of Meeting Place Time Details of Special Resolution Passed therein
24-09-2010 Daffodils Hotels, Tania Farms Complex,
Chatterpur Mandir Road, Satbari Village, New
Delhi- 30
10.30 AM Nil
23-09-2011 Daffodils Hotels, Tania Farms Complex,
Chatterpur Mandir Road, Satbari Village, New
Delhi- 30
10.30 AM 1. Re-appointment of Mr. Ashok Gupta, Managing Director of the
Company for a further period of 3 years
2. Re-appointment of Mr. Harswarup Gupta, Executive Chairman
of the Company for a further period of 3 years
3. Re-appointment of Mr. Adit Gupta as Jt. Managing Director of
the Company for a further period of 3 years
4. Revision in remuneration of Ms. Vidhi Gupta, Manager-
Business Development
5. Appointment of Ms. Mamta Gupta as Manager – Business
Development u/s 314(1) of the Act.
28-09-2012 Daffodils Hotels, Tania Farms Complex,
Chatterpur Mandir Road, Satbari Village, New
Delhi- 30
10.30 AM 1. Appointment & Re- designation of Mr. Adit Gupta as Joint
Managing Director of the Company.
II. Postal Ballot
The Company did not pass any special resolution through postal ballot in the fnancial year 2012-13.
8. Disclosures
a. Related party transactions have been suitably disclosed in the Notes to the Accounts in compliance to Accounting Standards issued by the Institute of
Chartered Accountants of India. However, there are no materially signifcant related party transactions which have potential confict with the interests of
the Company at large.
b. During the last three fnancial years there was no penalty, restrictions of any kind and of any nature, has been imposed by the SEBI, Stock Exchange or
any other Statutory Body relating to Capital Market.
c. Whistle Blower Policy: However, there is no specifc Whistle Blower Policy laid down in the organization, but the Management always encourages the
Employees of the Company, to detect any actual or suspected fraud, unethical behavior, and be notifed the same to the management for its suitable
resolution/rectifcation. There was no incidence highlighted during the fnancial year 2012-13 within the framework of such encouragement.
d. Following are the Details of Compliance of Mandatory and Non Mandatory Requirements of Corporate Governance:
I. Mandatory Requirement
The Company is fully compliant with the applicable mandatory requirements of the revised Clause 49 which are listed below:
Particulars Clause of Listing
agreement
Compliance Status
Yes/No
I Board of Directors 49 I
(A) Composition of Board 49(IA) Yes
(B) Non-executive Directors’ compensation & disclosures 49 (IB) Yes
(C) Other provisions as to Board and Committees 49 (IC) Yes
D) Code of Conduct 49 (ID) Yes
II. Audit Committee 49 (II)
(A) Qualifed & Independent Audit Committee 49 (IIA) Yes
(B) Meeting of Audit Committee 49 (IIB) Yes
(C) Powers of Audit Committee 49 (IIC) Yes
(D) Role of Audit Committee 49 II(D) Yes
(E) Review of Information by Audit Committee 49 (IIE) Yes
III. Subsidiary Companies 49 (III) Yes
IV. Disclosures 49 (IV)
(A) Basis of related party transactions 49 (IV A) Yes
(B) Disclosures of accounting treatment 49 (IV B) Yes
(C) Board Disclosures – Risk Management 49 (IV C) Yes
(D) Proceeds from public issues, rights issues, preferential issues etc. 49 (IV D) N.A
(D) Remuneration of Directors 49 (IV E) Complied with for previous year and for current
year will be complied in next Annual Report
(E) Management 49 (IV F) Complied with for previous year and for current
year will be complied in next Annual Report
(F) Shareholders 49 (IV G) Complied with for previous year and for current
year will be complied in next Annual Report
V. CEO/CFO Certifcation 49 (V) Complied with for previous year and for current
year will be complied in next Annual Report
VI. Report on Corporate Governance 49 (VI) Complied with for previous year and for current
year will be complied in next Annual Report
VII. Compliance 49(VII) Complied with for previous year and for current
year will be complied in next Annual Report
AMD Industries Limited AMD Industries Limited
7 30th Annual Report 2012-2013
II. Non-Mandatory Requirement
Pursuant to provisions of Schedule XIII of the Companies Act, 1956, the Company has constituted a Remuneration Committee which is a non mandatory
requirement under the Clause 49 of the Listing Agreement.
Profle of Directors
Mr. H. S. Gupta
Aged about 84 years is one of the founder promoters and Directors of the company. He has been associated with the packaging industry for more than 52 years. He
started his new glass bottles trading business in Calcutta in the year 1958 in name and style of Ashoka Sales Agency. He is the Executive Chairman of the Company.
Mr. Harswarup Gupta is also running a charitable trust viz. Shakuntala Gupta Trust which is established for philanthropic activities. The Trust runs a high school at
Village Kakore, Distt. Bulandshahar, Uttar Pradesh.
Mr. Ashok Gupta
Aged about 60 years is son of Shri Harswarup Gupta and Managing Director of AMD Industries Limited. Mr. Ashok Gupta is a Bachelor of Science and enriched with
an experience of more than 35 years in Industrial and Commercial activities. He commenced business in the year 1974 by setting up a unit under the name and style
of Shyam Industries to manufacture pilfer proof Aluminum caps mainly used by liquor industry.
Mr. Ashok Gupta has traveled widely and has attended many prestigious seminars and exhibitions in India and abroad including Inter Pack and Metpack Dusserdolf,
Germany, Pet Exhibition- Munich. He also participated as a Guest Speaker on the subject “The Growing Trends of Pet Industry in Asia Pacifc Market” organized in
Germany by PET PLANET, one of the Worlds’s most read PET magazines. He also attended textile exhibition in Singapore held in October 2005. Mr. Ashok Gupta
looks after the day-to-day operations of the Company since its inception. He is a founder promoter and Managing Director of the Company.
Mr. Adit Gupta
Aged about 34 years is the son of Shri Ashok Gupta. He has completed his B.Sc. in Chemical Engineering stream from Virginia, USA and MBA (Finance) from
Boston, USA. Mr. Adit Gupta has been involved in business development and promotion function of AMD Industries Ltd. since 1999. In the year 1999 he underwent
a training course at Sacmi, Italy to get frst hand experience of beverage packaging trends and know-how in plastics and crowns manufacturing. He has joined the
Board of AMD Industries Limited on 14-11-2005 as the Director of the Company & further subsequently appointed as Whole Time Director w.e.f 14-06-2006. He has
been reappointed as Joint Managing Director w.e.f. 01
st
June 2012.
Mr.Adit Gupta was actively involved as a team leader for implementation of Company’s expansion and diversifcation projects of PET and Plastic closures in the
year 2002 and 2003. He later went to Boston for his MBA degree course and during that MBA program he attended Kortec Seminar. Kortec is a leading technology
company in Barrier PET Preforms for Beer operations. He is one of the promoter directors of the company and looks after business development function of the
company.
Mr. Mahipal Ahluwalia
Mr. Mahipal Ahluwalia is a Lawyer and having more than 35 years of experience in handling Legal cases both in High Court as well as in Supreme Court. He is Non-
Executive Independent Director of the company.
Mr. Seshadri Ratnam
Mr. Seshadri Ratnam is a B.Sc. (Hons) (Physics) and FCA from the Institute of Chartered Accountants of England & Wales, London, U.K. He has over 40 years of
experience in the feld of Corporate Laws, Finance and Taxation. He has also been involved in fnancial consultancies relating to fund raising through GDRs, IPOs
and also through agencies like ADB, World Bank etc. He was Director Finance of Uttaranchal Jal Vidyut Nigam Limited. He has also worked in the capacity of Director
Finance of Bharti Telecom.
Mr. Prabhat Krishna
Mr. Prabhat Krishna aged about 65 years, Mr. Prabhat Krishna is a retired banker from State Bank of India. He is B. Tech (Chem) from IIT, New Delhi. He started
his career with a Chemical Consultancy frm. He joined SBI as Probationary Offcer in 1973. He kept on moving on different position within the Bank and handled
Corporate Account with a minimum limit of Rs.50 Crores & above. Mr. Prabhat Krishna worked with the Bank for 35 years and retired in November 2007.
8. Means of Communication
i. In terms of requirements of Clause 41 of the Listing Agreement the Quarterly/ Annual Financial Results of the Company are being published in newspapers
and are also being displayed on the Website of the Company i.e. www.amdindustries.com.
ii. The Quarterly/Annual Financial Results of the Company are being published normally in the following newspapers:
1. Business Standard, Delhi. (Hindi)
2. Business Standard, Delhi. (English)
9. General Shareholders Information
a. Annual General Meeting details:-
1. Date : 24
th
September, 2013.
2. Time : 10:30 A.M.
3. Venue : Daffodils Hotels, Tania Farms Complex, Chattarpur
Mandir Road, Satbari Village, New Delhi-110030.
b. Financial Year: 2012-2013 (ended on 31
st
March 2013).
c. Book Closure Date : 9
th
September (Thursday) to 24
th
September (Tuesday) (Both days- inclusive).
d. Dividend Payment Date : On or After 4
th
October 2013
e. Shares of Company are listed on:-
a. National Stock Exchange (NSE) and
b. Bombay Stock Exchange (BSE)
f. Stock Code: 532828 – BSE
AMDIND – NSE
g. The monthly high and low stock price during the fnancial year 2012-13 is under.
BSE Price NSE Price
Month High Price (in Rs.) Low Price (in Rs.) High Price (in Rs.) Low Price (in Rs.)
Apr-12 15 14.35 16.24 14.2
May-12 14.5 14.45 16.5 14.15
Jun-12 16 15.1 17.2 14.1
Jul-12 15.7 14.55 16.45 14.3
Aug-12 15.9 15.05 18.6 14.22
Sep-12 15.35 15 17.8 14.55
Oct-12 15.7 15.55 16.35 15.15
Nov-12 15.7 15.15 16.35 12.8
Dec-12 15.8 15 16.2 15.05
Jan-13 14.5 14.5 15.85 14.35
Feb-13 13.25 12.75 14.95 12.72
Mar-13 10.55 10 13.1 9.75
AMD Industries Limited AMD Industries Limited
8 30th Annual Report 2012-2013
h. Comparison of share of Company with indices
0.00
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i. Registrar and Share Transfer Agent:
Bigshare Services Private Limited
E-2/3, Ansa Industrial Estate,
Saki Naka Mumbai-400072
Phone # 91-22-28470652
Fax # 91-22-28525207.
j. Share Transfer System:
Company’s shares are being transferable both in Demat & Physical mode. The transfers of shares in case of dematerialised form are being conduced through
Depository Participants (DP). For the transfer of physical shares Company’s Registrar at above mentioned address is to be contacted. Further to expedite the
process of transfer of physical shares, the Company has authorized the Offcials of the Company in compliance with Clause 49 of the Listing Agreement.
k. Distribution of share holding (as on 31
st
March 2013)
S.No. Range Total Holders % of Total Holders Total Holding % of Total Capital
1 1-5000 10895 85.3506 1547239 8.0725
2 5001-10000 972 7.6146 815169 4.2530
3 10001-20000 460 3.6036 718018 3.7462
4 20001-30000 177 1.3866 449790 2.3467
5 30001-40000 63 0.4935 229672 1.1983
6 40001-50000 48 0.3760 229913 1.1995
7 50001-100000 81 0.6345 554316 2.9442
8 100001 -999999999 69 0.5405 14612632 76.2395
Total 12765 100.00 19166749 100.00
l. Statement showing Shareholding Pattern as on 31
st
March 2013
Category
Code
Category of Shareholder Total No. of
Shares
Total %
Shareholding
A Shareholding of Promoter and promoter group
1 Indian 11736404 61.23
2 Foreign 0.00 0.00
Total (A) 11736404 61.23
B Public Shareholdings
1. Institutions 0.00 0.00
2. Non - Institutions 7430345 38.77
Total (B) 7430345 38.77
C Shares held by custodians and against which
Depository Receipts have been issued
0.00 0.00
Grand Total (A+B+C) 19,166,749 100.00
m. Dematerialization and liquidity of share (as on 31
st
March 2013)
As on 31st March, 2013 99.99% shares of the Company were held in dematerialized form.
None of the shares of the Company are Locked-in.
n Plant Locations.
S. No. Plant Location Product
1 C-4 & 5, Site No. 3, Meerut Road Indl. Area, Ghaziabad, U.P. 201001. CSD Closures and PET Preforms
2 SP- 32 RIICO Industrial Area, Neemrana, (Rajasthan) Crown Caps, CSD Closures and PET Preforms
o. Address for correspondence:
AMD Industries Limited
18, First Floor, Pusa Road,
Karol Bagh, New Delhi 110005
E-mail:[email protected].
For and on behalf of Board of Directors
Place: New Delhi Ashok Gupta
Date 28
th
May 2013 Managing Director
AMD Industries Limited AMD Industries Limited
9 30th Annual Report 2012-2013
Auditor’s certifcate on Corporate Governance
To,
The Members,
AMD Industries Limited
We have examined the compliance of the conditions of Corporate Governance
by AMD Industries Limited, for the Financial Year ended on 31
st
March 2013, as
stipulated in Clause 49 of the Listing Agreement of the said company with the
stock exchange(s).
The compliance of conditions of corporate governance is the responsibility of
the Management of the Company. Our examination has been limited to a review
of the procedures and implementation thereof, adopted by the Company for
ensuring the compliance with conditions of Corporate Governance. It is neither
an audit nor an expression of opinion on fnancial statements of the Company.
In our opinion and to best of our information and according to the explanations
given to us, and the representations made by the Directors and the Management
of the Company, we certify that the Company has compiled with the conditions
of corporate governance in the listing Agreement with Stock Exchanges .
We state that in respect of investor’s grievances received during the year ended
on 31
st
March 2013, no investor grievances is pending for a period exceeding
one month against the company as per records maintained by the company.
We further state that such compliances is neither an assurance as to the future
viability of the company nor the effciency and effectiveness with which the
management has conducted the affairs of the company.
For SURESH & ASSOCIATES
FRN: 003316N
CHARTERED ACCOUNTANTS
(CA. SURESH K GUPTA)
PARTNER
M. No. 080050
To
The Board of Directors
AMD Industries Limited
18, 1
st
Floor, Pusa Road,
Karol Bagh
New Delhi –110005.
Sub: Secretarial Audit Report in respect of the Secretarial Audit conducted on
the various compliances made by the Company during period ended on
31
st
March, 2013.
Dear Sirs,
Pursuant to our appointment as the Secretarial Auditor of the Company for
conducting a detailed secretarial audit in respect of various compliances
made by the Company under the Companies Act, 1956, The Depositories Act,
1996, SEBI Act, 1992, SEBI (Substantial Acquisition of Shares & Takeover)
Guidelines, 2011, SEBI (Prohibition of Insider Trading) Regulations, 1992,
The Securities Contract Regulation Act, 1956 and the Listing Agreement
entered into by the Company with the Bombay Stock Exchange Limited
(BSE) and the National Stock Exchange (NSE) covering therein the period
commencing from 01.04.2012 and ending on 31.3.2013 , we hereby report
as under :
We have examined the various registers, records, books and papers
as required to be maintained and fled by the Company under the above
mentioned enactments, rules, regulations and procedures prescribed there
under and we have also examined the information and explanations given
to us by the Management and the Compliance Offcer of the Company, and
pursuant thereto our report has been segregated in two parts, one covering
the report on the compliances made by the Company under the Companies
Act, 1956 and the second covering the report on the compliances made
by the Company under SEBI Act and various Guidelines prescribed there
under, SCRA, Depositories Act and the Listing Agreement, which is given
as under :
I. Report on the Compliances made by the Company under the
Companies Act, 1956 and rules and Regulations prescribed there
under:
We have perused that the Company has complied with the provisions
of Companies Act, 1956, Rules & Regulations made there under and
the Memorandum & Articles of Association of the Company with regard
to:
a. Maintenance of various Statutory Registers and fling of forms
& returns with necessary attachments with the Registrar of
Companies.
b. Constitution of proper Board, due Compliances & Disclosures by
the Members of the Board to the Company and to the Authorities
prescribed wherever required, conducting of Board Meetings by
serving appropriate notices within the time prescribed, conducting of
meetings of the shareholders within the time prescribed by serving
appropriate and timely notices, recording and signing of Minutes
of the Board Meetings and the Shareholders Meetings within the
time prescribed, appointment, reappointment, rotation of Directors
including Managing Director and the Whole Time Directors and
payment of remuneration within the prescribed ceilings.
c. The appointment and the reappointment of Auditors of the Company
and the payment of remuneration to the Auditors of the Company.
d. Transfer of Company’s Shares, Declaration & payment of dividend to
the shareholders of the Company.
e. Borrowings from the Banks and/or fnancial institutions and
registration, modifcation and satisfaction of charges thereof, inter
corporate loans, investments, guarantees, affxation of Common
Seal of the Company, publication of name of the Company.
f. Generally, all other applicable provisions of the Act, Rules &
Regulations made there under.
II. Report on the Compliances made by the Company under the SEBI
Act, various Guidelines prescribed thereunder, SCRA, Depositories
Act and the Listing Agreement :
We have perused that the Company is regular in compliances as
prescribed under the provisions of SEBI Act, various Guidelines prescribed
there under, SCRA, Depositories Act and the Listing Agreement which are
reported as under:
a. The Company has complied with the provisions of Depositories
Act, Bye-laws framed there under with regard to dematerialization/
rematerialisation of securities and reconciliation of records of
dematerialized securities.
b. The Company has complied with the requirements as prescribed
under the Listing Agreement entered into by the Company with the
BSE and the NSE. The Company is regular in getting its various
notices & fnancial results published in Hindi and English newspapers
as required under the said agreement.
c. The Company has complied with the provisions of SEBI (Substantial
Acquisition of Shares & Takeover) Guidelines, 2011.
d. Pursuant to the provisions of SEBI (Prohibition of Insider
Trading) Regulations, 1992, in terms of explanations, none
of the employees of the company traded any shares during
share trading window closure during year under review and
the Company has adopted the Code of Internal Procedure
and Conduct as prescribed duly approved by the Management
Committee of the Company.
For AGG & Associates
Company Secretaries
Amar Gopal Gambhir
Place: New Delhi Practicing Company Secretary
Dated: 31
st
July 2013 FCS : 3668, CP:3653
SECRETARIAL AUDIT REPORT
For the year ended 31
st
March, 2013
AMD Industries Limited AMD Industries Limited
10 30th Annual Report 2012-2013
Independent Auditor`s Report
To
The Members of
AMD Industries Limited
We have audited the accompanying fnancial statements of AMD Industries Limited (‘the Company’) which comprise the balance sheet as at 31
st
March 2013,
the statement of proft and loss and the cash fow statement for the year then ended and a summary of signifcant accounting policies and other explanatory
information.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation of these fnancial statements that give a true and fair view of the fnancial position, fnancial performance and cash
fows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 (“the Act”). This
responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the fnancial statements that
give a true and fair view and are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these fnancial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing
issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the fnancial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the fnancial statements. The procedures selected depend on
the auditor’s judgment, including the assessment of the risks of material misstatement of the fnancial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the Company’s preparation and fair presentation of the fnancial statements in order to design audit
procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of
the accounting estimates made by management, as well as evaluating the overall presentation of the fnancial statements.
We believe that the audit evidence we have obtained is suffcient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the explanations given to us, the fnancial statements give the information required by the Act in the
manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:
(i) in the case of the balance sheet, of the state of affairs of the Company as at 31
st
March 2013;
(ii) in the case of the statement of proft and loss, of the proft for the year ended on that date; and
(iii) in the case of the cash fow statement, of the cash fows for the year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor’s Report) Order, 2003 (“the Order”), as amended, issued by the Central Government of India in terms of sub-section
(4A) of section 227 of the Act, we give in the Annexure a statement on the matters specifed in paragraphs 4 and 5 of the Order.
2. As required by section 227(3) of the Act, we report that:
a. we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit;
b. in our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books;
c. the Balance Sheet, Statement of Proft and Loss and Cash Flow Statement dealt with by this Report are in agreement with the books of account;
d. in our opinion, the Balance Sheet, Statement of Proft and Loss and Cash Flow Statement comply with the Accounting Standards referred to in subsection
(3C) of section 211 of the Companies Act, 1956; and
e. on the basis of written representations received from the directors as on 31
st
March 2013, and taken on record by the Board of Directors, none of the
directors is disqualifed as on 31
st
March 2013, from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies
Act, 1956.
f. Since the Central Government has not issued any notifcation as to the rate at which the cess is to be paid under section 441A of the Companies Act,
1956 nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the
company.
For SURESH & ASSOCIATES
FRN: 003316N
CHARTERED ACCOUNTANTS
(CA. SURESH K GUPTA)
DATE : 28
th
May 2013 PARTNER
PLACE : NEW DELHI M. No. 080050
ANNEXURE TO AUDITOR’S REPORT
Referred to Paragraph 4 of our report of even date attached
(i) a) The company is maintaining proper records showing full particulars including quantitative details and situation of fxed assets.
b) Some of the fxed assets of the company have been physically verifed during the year by the management in accordance with program of verifcation,
which in our opinion provide for physical verifcation of all the fxed assets at reasonable intervals. According to information and explanation given to us,
no material discrepancies have been noticed on such verifcation.
c) No fxed assets have been disposed off during the year which may affect the going concern concept.
(ii) a) As explained to us, the inventory has been physically verifed by the management at reasonable intervals during the year. In our opinion, the frequency of
such verifcation is reasonable considering size and nature of the business.
b) In our opinion and according to information and explanation given to us, the procedures of physical verifcation of inventory, followed by the management,
are reasonable and adequate in relation to the size and nature of its business.
c) In our opinion and according to information and explanation given to us, the company is maintaining proper records of inventory and no serious
discrepancies have been noticed on physical verifcation.
(iii) a) The company has granted unsecured loan and advances of Rs.38,14,64,201/- to one company covered in the register maintained under section 301 of the Act.
b) In our opinion the rate of interest and other terms and conditions of loan and advances given by the company are prima facie not prejudicial to the interest
of the company.
c) As per information given to us, the repayment of principal amount and interest are regular.
d) There has not been any instance of overdue exceeding rupees one lac during the year.
e) The company has taken unsecured loans of Rs.1,81,92,280.68/- from one company and Rs.4,62,92,487/- from three other parties , coveredin the register
maintained under section 301 of the Act.
AMD Industries Limited AMD Industries Limited
11 30th Annual Report 2012-2013
f) The rate of interest and other terms and conditions of loans taken by the company are prima facie not prejudicial to the interest of the company.
g) As per information given to us, the repayment of principal amount and interest are regular.
(iv) In our opinion and according to information and explanation given to us, there are adequate internal control procedures commensurate with the size and nature
of the company for purchase of inventory and fxed assets and sale of goods and services. There is no continuing failure to correct major weakness in internal
control system.
(v) a) According to the information and explanation given to us, the company has entered into transaction pursuance of contract or arrangement entered in
register maintained under section 301 of the Companies Act, 1956.
b) In respect of the tranjection made in pursuance of search contract or arrangement and exceeding value rupees fve lacs in respect of any party during
the year, because of the absence of the compareable trycies and variation in the quality of the goods involved, we are unable to comments wheater the
tranjection were made act prevailing market prices at the relevent time.
(vi) In our opinion and explanation given to us, the company has not accepted any public deposit and the directives issued by the RBI and the provisions of 58A
and 58AA of the Act and rules framed there under, are not applicable to the company.
(vii) In our opinion, the company has an internal audit system commensurate with its size and nature of its business.
(viii) The central government has perscribe maintenance of cost record undersection 209 (1) (D) of the company act, 1956 in respect of manufecturing activities of
the company we have broadly revued the account and records of the company in the connection and are of the opinion, that primafacie, discribe accounts and
records have been maintain by the company.
(ix) a) According to books of accounts examined by us and explanation given to us company is generally regular in depositing undisputed statutory dues and
there are no undisputed statutory dues payable in respect of PF, ESI, Income Tax, Sales Tax, Wealth Tax Custom Duty, Excise Duty, Cess and other
statutory dues which are outstanding as at 31
st
March, 2013 for the period of more than 6 months from the date they became payable.
b) According to information given to us certain dues of Sales Tax,Entry Tax,Excise Duty and other statutory dues have not been deposited by the company
on account of dispute pending before concerned authority details of such dues are given below.
(x) There are no accumulated losses of the company. The company has also not incurred any cash losses during the fnancial year and nor in immediately
preceding fnancial year.
S. No. Period Amount Description Appeal pending before
1 F.Y. 1999-00 to 2006-07 9,50,962/- Local Sales Tax raised by UP Local Sales Tax
Authorities
Supreme Court
2. F.Y. 1999-00 to 2006-07 31,18,745/- Central Sales Tax raised by UP Trade tax
Authorities
Supreme Court
3. F.Y. 2003-04 3,58,400/- Demand under Central Sales Tax raised by U.P.
Trade Tax Authorities
Ad. Commissioner Appeal (trade tax), Ghaziabad
4. F.Y. 2001-02 11,45,102/- Entry tax raised by UP Trade Tax Authorities Jt. Commissioner Appeal (trade tax), Ghaziabad
5. F.Y. 2002-03,
F.Y. 2004-05 &
F.Y. 2005-06
11,40,307/-
16,37,643/-
2,20,397/-
Entry tax raised by UP trade tax Authorities Supreme Court of India
6. F.Y. 2005-06 4,74,111/- Demand under Central Sales Tax raised by U.P.
Trade Tax Authorities
Commissioner Appeal (trade tax), Ghaziabad
7. F.Y. 2007-2008 2,02,382/-/- Trade Tex raised by U.P. Trade Tax Assessing
Authority
Addl. Commissioner Appeal (trade tax),
Ghaziabad
8. F.Y. 2003-04 1,10,000/- Interest on Excise Duty raised by Excise
Assessing Authorities, Ghaziabad
Dy. Commissioner (Appeals) Central Excise,
Ghaziabad
9. F.Y. 2008-2009 1,37,52,218 Trade Tax Demand raised by U. P. Trade Tax
Assesing Authorities
Addl. Commissioner (Appeals), Trade Tax
Ghaziabad
10. F.Y. 2008-2009 70,564/- Central Sales Tax raised by U.P. Trade Tax
Authorities
Addl. Commissioner (Appeals), Sales Tax
Ghaziabad
11. F.Y. 2012-2013 8,42,772/- Trade Tax raised as per provisional assessment
by U.P. Trade Tax Assessing Authorities
Addl. Commissioner (Appeals), Trade Tax
Ghaziabad
12. F.Y. 2012-13 46,91,946/- Excise Duty Demand raised by Excise Assessing
Authorities
Addl. Commissioner (Appeals), Central Excise,
Ghaziabad
13. F.Y. 2007-2008 38,09,702/- Demand raised by Trade Tax Department.
Quashed in Appeal by Tribunal but effect of avard
yet not given by the Tax Authorities
Appeal by Department pending before Allahabad
High Court
(xi) As per explanation and information provided to us company has not defaulted in repayment of dues to a fnancial institution or banks.
(xii) The company has not granted loan and advances on basis of security by way of pledged of shares, debentures, other securities.
(xiii) In our opinion and according to the information and explanations given to us, the company is not a chit fund/nidhi/mutual beneft fund/ society.
(xiv) According to the information and explanations given to us, company is dealing in shares and proper record have been maintained for all transactions. We report
the company is making timely increased of the transactions and all shares have been held by the company in its own name.
(xv) In our opinion and according to the information and explanations given to us, the terms and conditions on which the Company has given guarantee for loans
taken by others from banks or fnancial institutions are not prime-facie prejudicial to the interest of the Company.
(xvi) To the best of our knowledge & belief and according to information given to us term loan availed by company are prima facie applied by company during the
year for the purpose for which they are obtained.
(xvii) As per information & explanation given to us and overall examination of balance sheet of the company we report that funds raised on short-term basis have
prima facie not been used for long-term investment and vice versa.
(xviii) As per information and explanation given to us the company has not made preferential allotment of shares to parties and companies covered in register
maintained under section 301 of the Companies Act.
(xix) As per information and explanation given to us the company has not issued any debentures and no security has been created against the debenture.
(xx) During the year, company has not raised money by way public issue of equity shares.
(xxi) As per information and explanation given to us no fraud has been noticed or reported during the year.
For SURESH & ASSOCIATES.
FRN : 003316N
CHARTERED ACCOUNTANTS.
(CA SURESH K. GUPTA)
DATE : 28.05.2013 PARTNER
PLACE: NEW DELHI M No. 080050
AMD Industries Limited AMD Industries Limited
12 30th Annual Report 2012-2013
Particulars Note No. As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
I EQUITY AND LIABILITIES
Shareholders’ funds
(a) Share Capital 3 191,667,490.00 191,667,490.00
(b) Reserves and Surplus 4 963,010,081.58 967,155,519.89
1,154,677,571.58 1,158,823,009.89
Non-current liabilities
(a) Long-term borrowings 5 513,782,576.51 282,235,890.02
(b) Deferred tax liabilities (net) 30 81,547,440.00 84,712,213.00
(c) Other long-term liabilities 6 823,400.00 925,475.00
(d) Long-term provisions 7 16,312,922.00 14,575,032.00
612,466,338.51 382,448,610.02
Current liabilities
(a) Short-term borrowings 8 315,960,224.76 353,580,544.39
(b) Trade payables 9 317,625,390.36 230,353,091.88
(c) Other current liabilities 10 148,138,406.51 172,331,301.57
(d) Short-term provisions 11 29,232,834.57 151,427,154.88
810,956,856.20 907,692,092.72
TOTAL 2,578,100,766.29 2,448,963,712.63
II ASSETS
Non-current assets
(a) Fixed assets 12
(i) Tangible assets 868,381,665.30 853,633,911.23
(ii) Intangible assets 891,116.00 1,242,671.00
(iii) Capital work in progress 7,836,529.00 -
877,109,310.30 854,876,582.23
(b) Non-current investments 13 52,833,498.42 55,985,585.69
(c) Long-term loans and advances 14 474,980,415.92 477,809,447.00
1,404,923,224.64 1,388,671,614.92
Current assets
(a) Inventories 15 577,760,209.93 369,527,275.94
(b) Trade receivables 16 309,174,323.76 365,804,877.15
(c) Cash and cash equivalents 17 41,414,164.91 42,230,423.72
(d) Short-term loans and advances 18 234,960,293.93 164,934,047.79
(e) Other current assets 19 9,868,549.12 117,795,473.11
1,173,177,541.65 1,060,292,097.71
TOTAL 2,578,100,766.29 2,448,963,712.63
III Notes forming part of the fnancial statements 1 - 33
As per our report of even date attached
For Suresh & Associates For and on behalf of the Board of Directors
FRN No. 003316N
Chartered Accountants
(CA Suresh K. Gupta) (Ashok Gupta) (Adit Gupta)
Partner Managing Director Jt. Managing Director
Membership No.080050 DIN - 00031630 DIN - 00238784
(CA Laxmi Kant) (Joylin Jain)
DGM - Finance & Accounts Company Secretary
Place : New Delhi
Date : 28.05.2013
Balance Sheet as at 31
st
March, 2013
AMD Industries Limited AMD Industries Limited
13 30th Annual Report 2012-2013
As per our report of even date attached
For Suresh & Associates For and on behalf of the Board of Directors
FRN No. 003316N
Chartered Accountants
(CA Suresh K. Gupta) (Ashok Gupta) (Adit Gupta)
Partner Managing Director Jt. Managing Director
Membership No.080050 DIN - 00031630 DIN - 00238784
(CA Laxmi Kant) (Joylin Jain)
DGM - Finance & Accounts Company Secretary
Place : New Delhi
Date : 28.05.2013
Statement of Proft and Loss for the year ended 31
st
March, 2013
Particulars Note No. For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
I Revenue from operations (gross) 20 1,852,175,360.93 2,040,350,781.97
Less: Excise duty 282,738,787.00 220,273,280.00
Revenue from operations (net) 1,569,436,573.93 1,820,077,501.97
II Other income 21 13,200,111.08 6,906,700.33
Total revenue (1+2) 1,582,636,685.01 1,826,984,202.30
III Expenses
(a) Cost of materials consumed 22.a 966,213,608.63 1,020,337,916.99
(b) Purchases of stock-in-trade 22.b 30,923.00 2,045,732.50
(c) Changes in inventories of fnished goods, work-in-progress and stock-in-trade 22.c (62,194,175.00) 57,401,160.00
(d) Employee benefts expense 23 111,994,099.87 114,407,012.40
(e) Finance costs 24 101,032,399.80 107,345,584.29
(f) Depreciation and amortisation expense 12 82,789,871.72 76,253,471.34
(g) Other expenses 25 360,163,219.59 369,647,966.50
Total expenses 1,560,029,947.61 1,747,438,844.02
IV Proft / (Loss) before exceptional Items and tax 22,606,737.40 79,545,358.28
V Exceptional items - Proft/(Loss) on Sale/Written Off of Fixed Assets 8,774.29 24,143,537.03
VI Proft / (Loss) before tax 22,615,511.69 103,688,895.31
VII Tax expense:
(a) Current tax expense for current year 11,705,000.00 33,000,000.00
(b) Current tax expense relating to prior years (1,827,745.00) 3,254,127.00
(c) Net current tax expense 9,877,255.00 36,254,127.00
(d) Deferred tax (3,164,773.00) 2,403,017.00
6,712,482.00 38,657,144.00
VIII Proft / (Loss) for the period 15,903,029.69 65,031,751.31
IX Earning per equity shares: Basic and diluted 29 0.83 3.39
X Notes forming part of the fnancial statements 1 - 33
AMD Industries Limited AMD Industries Limited
14 30th Annual Report 2012-2013
Notes forming part of the fnancial statements
Note Particulars
1 Corporate information
The Compnay is engaged in the Manufacturing of Pet Preform,Crown Caps and CSD Closures. The company is also engaged in jobwork operation of preforms.
The company is continuously catering to the packaging needs of Beverages and Beer Industry of the country and abroad.The company has also interest in the
Real Estates.
2 Signifcant accounting policies
2.1 Basis of accounting and preparation of fnancial statements
The fnancial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to
comply with the Accounting Standards notifed under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the
Companies Act, 1956. The fnancial statements have been prepared on accrual basis under the historical cost convention.The accounting policies adopted in
the preparation of the fnancial statements are consistent with those followed in the previous year.
2.2 Use of estimates
The preparation of the fnancial statements in conformity with Indian GAAP requires the Management to make estimates and assumptions considered in the
reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The Management believes
that the estimates used in preparation of the fnancial statements are prudent and reasonable. Future results could differ due to these estimates and the
differences between the actual results and the estimates are recognised in the periods in which the results are known / materialise.
2.3 Inventories
Inventories
(i) Raw Material
At cost or net realizable value (on FIFO basis) whichever is lower (Rejected raw material at cost Less claim received thereon)
ii) Finished Goods
At cost or net realizable value whichever is lower. For arriving at the cost for this purpose the cost includes material cost and manufacturing expenses.
iii) Semi Finished Goods
At cost of input plus apportioned overhead expenses and depreciation.
iv) Job work in Process
At apportioned manufacturing expenses and depreciation.
v) Stores and Spares
At cost or net realizable value (on FIFO basis) whichever is lower.
vi) Scrap
At estimated realizable value.
vii) Real Estates Inventory
At cost plus cost of improvement.
In order to comply with the mandatory requirements of Accounting Standard -2 ‘Valuation of inventories’ prescribed by the Institute of Chartered
Accountants of India; The Company has adopted the exclusive method of the excise duty”
2.4 Cash and cash equivalents (for purposes of Cash Flow Statement)
Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an original maturity of three months or less
from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignifcant risk of
changes in value.
2.5 Cash fow statement
Cash fows are reported using the indirect method, whereby proft / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-
cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash fows from operating, investing and fnancing activities of the
Company are segregated based on the available information.
2.6 Depreciation and Amortisation
The depreciation on Plant & Machinery including Moulds installed in Neemrana Unit and Ghaziabad Unit has been provided on ’Multiple Shift Basis’. The depreciation
on all assets has been provided on ‘straight-line method’ at the rates prescribed in Schedule XIV of the Companies Act, 1956.
2.7 Revenue recognition
Revenue in respect of sale of products is recognised on delivery, which coincides with the transfer of risk and rewards of ownership. Discounts given / accrued
to customers at the time of despatch are considered as trade discounts and netted from sales.
Sales made to Nepal and Bhutan has been treated as export sale. However there is no infow of Foreign Exchange on sales to Nepal and Bhutan.
Job work of Preform Completed and lying in Factories as on 31
st
March 2013 has been shown as inventory under the head Job Work in Process.
Interest income is recognized on an accrual basis on time proportionate basis, based on interest rates implicit in the transaction.
2.8 Other income
Dividend income is recognized on receipt basis.
2.9 Tangible fxed assets
Fixed assets are carried at cost less accumulated depreciation and impairment losses, if any. The cost of fxed assets includes interest on borrowings attributable
to acquisition of qualifying fxed assets up to the date the asset is ready for its intended use and other incidental expenses incurred up to that date. Exchange
differences arising on restatement / settlement of long-term foreign currency borrowings relating to acquisition of depreciable fxed assets are adjusted to the
cost of the respective assets and depreciated over the remaining useful life of such assets. Machinery spares which can be used only in connection with an
item of fxed asset and whose use is expected to be irregular are capitalised and depreciated over the useful life of the principal item of the relevant assets.
Subsequent expenditure relating to fxed assets is capitalised only if such expenditure results in an increase in the future benefts from such asset beyond its
previously assessed standard of performance.
CENVAT Credit availed on acquisition of fxed assets is reduced from the cost of concerned assets.
Capital work-in-progress:
Projects under which assets are not ready for their intended use and other capital work-in-progress are carried at cost, comprising direct cost, related incidental
expenses and attributable interest.
AMD Industries Limited AMD Industries Limited
15 30th Annual Report 2012-2013
2.10 Intangible assets
Intangible assets are carried at cost less accumulated amortisation and impairment losses, if any. The cost of an intangible asset comprises its purchase price,
including any import duties and other taxes (other than those subsequently recoverable from the taxing authorities), and any directly attributable expenditure
on making the asset ready for its intended use and net of any trade discounts and rebates. Subsequent expenditure on an intangible asset after its purchase /
completion is recognised as an expense when incurred unless it is probable that such expenditure will enable the asset to generate future economic benefts
in excess of its originally assessed standards of performance and such expenditure can be measured and attributed to the asset reliably, in which case such
expenditure is added to the cost of the asset.
2.11 Foreign currency transactions
(i) Foreign currency transactions during the year are recorded at the rate of exchange prevailing on the date of transaction. Foreign currency monetary
assets and liabilities are translated into Rupees at the rate of exchange prevailing on the date of Balance Sheet.All Exchange difference are dealt
with in the Proft and Loss Account.Foreign Currency monetary items are reported using the closing rate.
(ii) Where the company has entered into forward exchange contracts, the difference between the forward rate and spot rate at the date of the contract
is recognised in the statement of th eproft and loss over the life of the contract and difference between the spot rate at the date of contract and
the exchange rate prevailing on the balance sheet date is recognised as per Accounting Standard (AS)-11 issued by the Institute of Chartered
Accountants of India. Any proft or loss arising on cancellation or renewal of the forward exchange contract is recognised as Income or as expenses
for the year.
2.12 Government grants, subsidies and export incentives
Export benefts are accounted for in the year of exports based on eligibility and when there is no uncertainty in receiving the same.
2.13 Investments
Long-term investments , are carried individually at cost less provision for diminution, other than temporary, in the value of such investments. Current investments
are carried individually, at the lower of cost and fair value. Cost of investments include acquisition charges such as brokerage, fees and duties.
2.14 Employee benefts
(i) Short-term employee benefts are recognised as an expense at the undiscounted amount in the proft and loss account of the year in which the related
service is rendered.
(ii) Defned Beneft Plans:
- Leave Salary of employees on the basis of acturial valuation as per AS 15.
- Gratuity Liability on the basis of acturial valuation as per AS 15.
(iii) Defned Contribution Plans:
Provident fund and ESI on the basis of actual liability accrued and paid to authorities.
2.15 Borrowing costs
Borrowing costs include interest, amortisation of ancillary costs incurred and exchange differences arising from foreign currency borrowings to the extent
they are regarded as an adjustment to the interest cost. Costs in connection with the borrowing of funds to the extent not directly related to the acquisition of
qualifying assets are charged to the Statement of Proft and Loss over the tenure of the loan. Borrowing costs, allocated to and utilised for qualifying assets,
pertaining to the period from commencement of activities relating to construction / development of the qualifying asset upto the date of capitalisation of such
asset is added to the cost of the assets. Capitalisation of borrowing costs is suspended and charged to the Statement of Proft and Loss during extended periods
when active development activity on the qualifying assets is interrupted.
2.16 Segment reporting
The Company identifes primary segments based on the dominant source, nature of risks and returns and the internal organisation and management structure.
The operating segments are the segments for which separate fnancial information is available and for which operating proft/loss amounts are evaluated
regularly by the executive Management in deciding how to allocate resources and in assessing performance.
2.17 Earnings per share
Basic Earnings per share are calculated by dividing the net proft or loss for the period attributable to equity shareholders by the weighted average number of
euity shares outstanding during the period. Diluted Earnings per share are not different from basic earning per share.
2.18 Taxes on income
The Deffered tax expense or beneft is recognised on timing differences being the difference between taxable incomes and accounting incomes that originate
in one period and are capable of reversal in one or more subsequent periods. Deffered tax assets and liabilities are measured using the tax rates and tax laws
that have been enacted or substantively enacted by the balance sheet date.
2.19 Impairment of assets
The carrying values of assets / cash generating units at each Balance Sheet date are reviewed for impairment. If any indication of impairment exists, the
recoverable amount of such assets is estimated and impairment is recognised, if the carrying amount of these assets exceeds their recoverable amount. The
recoverable amount is the greater of the net selling price and their value in use. Value in use is arrived at by discounting the future cash fows to their present
value based on an appropriate discount factor. When there is indication that an impairment loss recognised for an asset in earlier accounting periods no longer
exists or may have decreased, such reversal of impairment loss is recognised in the Statement of Proft and Loss, except in case of revalued assets.
2.20 Provisions and contingencies
A provision is recognised when the Company has a present obligation as a result of past events and it is probable that an outfow of resources will be required
to settle the obligation in respect of which a reliable estimate can be made. Provisions (excluding retirement benefts) are not discounted to their present value
and are determined based on the best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and
adjusted to refect the current best estimates. Contingent liabilities are disclosed in the Notes.
AMD Industries Limited AMD Industries Limited
16 30th Annual Report 2012-2013
Note 3 Share Capital
Particulars As at 31st March, 2013 As at 31st March, 2012
Number of shares Rs. Number of shares Rs.
(a) Authorised
Equity shares of Rs. 10/- each with voting rights 25,000,000.00 250,000,000.00 25,000,000.00 250,000,000.00
25,000,000.00 250,000,000.00 25,000,000.00 250,000,000.00
(b) Issued
Equity shares of Rs. 10/- each with voting rights 19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
(c) Subscribed and fully paidup
Equity shares of Rs.10/- each with voting rights 19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
Total 19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
Note 3 Share capital (contd.)
Particulars
Notes:
Reconciliation of the shares outstanding at the beginning and at the end of the reporting period
(i) Details of shares held by the holding company, the ultimate holding company, their subsidiaries and associates:
Particulars Opening Balance Closing Balance
Equity shares with voting rights
Year ended 31 March, 2013
- Number of shares 19,166,749.00 19,166,749.00
- Amount (Rs.) 191,667,490.00 191,667,490.00
Year ended 31 March, 2012
- Number of shares 19,166,749.00 19,166,749.00
- Amount (Rs.) 191,667,490.00 191,667,490.00
Note 3 Share Capital (contd.)
Particulars
(ii) Details of shares held by each shareholder holding more than 5% shares:
Class of shares / Name of shareholder As at 31st March, 2013 As at 31st March, 2012
Number of shares
held
% holding in that
class of shares
Number of shares
held
% holding in that
class of shares
Equity shares with voting rights
Harswarup Gupta 2,575,604.00 13.4379% 2,575,604.00 13.4379%
Ashok Gupta 3,427,796.00 17.8841% 3,427,796.00 17.8841%
Chitra Gupta 1,200,945.00 6.2658% 1,200,945.00 6.2658%
Adit Gupta 3,284,126.00 17.1345% 3,264,126.00 17.0301%
Ashok Sons (HUF) 982,500.00 5.1261% 982,500.00 5.1261%
Note 4 Reserves and surplus
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Securities premium account
Opening balance 650,390,253.28 650,390,253.28
Closing balance 650,390,253.28 650,390,253.28
(b) General reserve
Opening balance 27,326,418.51 27,326,418.51
Closing balance 27,326,418.51 27,326,418.51
(c) Surplus / (Defcit) in Statement of Proft and Loss
Opening balance 289,438,848.10 246,683,171.79
Add: Proft / (Loss) for the year 15,903,029.69 65,031,751.31
Less: Dividends proposed to be distributed to equity shareholders Re 0.90 Per shares
(Previous year Re 1/- per share)
17,250,074.00 19,166,749.00
Tax on dividend 2,798,394.00 3,109,326.00
Closing balance 285,293,409.79 289,438,848.10
Total 963,010,081.58 967,155,519.89
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
17 30th Annual Report 2012-2013
Note 5 Long-term borrowings
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Term loans
From banks
Secured 485,227,048.11 265,347,541.23
485,227,048.11 265,347,541.23
From other parties
Secured 28,555,528.40 16,888,348.79
28,555,528.40 16,888,348.79
Total 513,782,576.51 282,235,890.02
Note :
Details of Repayment Terms and Security against the Term Loans
Particulars Repayment Terms Security Rate of Interest Amount of EMI/
Instalment
Kotak Mahindra Bank Repayble in 60 Monthly EMI Hypothecation of Vehicle acquired out of
Loan
13.59% 33,500.00
Standard Chartered Bank Repayble in 211 Monthly EMI Mortgage of Immovable Properties of the
Company at DLF,Pinnacle & DLF Courtyard
and the Personal Guarantee of the Directors
12.00% 84,239.00
Standard Chartered Bank Repayble in 187 Monthly EMI Mortgage of Immovable Properties of the
Company at DLF,Pinnacle & DLF Courtyard
and the Personal Guarantee of the Directors
12.50% 293,474.00
Standard Chartered Bank Repayble in 120 Monthly EMI Mortgage of Immovable Properties of the
Company at DLF,Pinnacle & DLF Courtyard
and the Personal Guarantee of the Directors
BR+2.75% 410,124.00
Union Bank of India Repayble in 60 Monthly
Installments and Interest
Payable Monthly
First Pari Passu charge over fxed assets of
the company except vehicles & immovable
properties of the company specifcally
mortgage to other lenders.The same is
also secured by 2
nd
Pari Passu charge over
the current assets of the company and the
personal guarantee of the directors and
corporate guarantee & mortgage of Land
and Building of another Company.
BR+4.25% 5,275,000.00
Kotak Mahindra Bank Repayble in 68 Monthly EMI Mortgage of Immovable Properties of the
Company at Digital Green, Gurgaon and
the Personal Guarantee of the Directors
RR-4.30% 665,535.00
Kotak Mahindra Bank Repayble in 120 Monthly EMI Mortgage of Personal Property of wife of
Director and the Personal Guarantee of the
Directors
RR+2.50% 617,359.00
Kotak Mahindra Bank Repayble in 72 Monthly EMI Mortgage of Personal Property of wife of
Director & Director’s HUF and the Personal
Guarantee of the Directors
BR+4.75% 3,131,164.00
Indiabulls Housing
Finance Ltd.
Repayble in 84 Monthly EMI Mortgage of Immovable Properties of the
Company at Mohali and the Personal
Guarantee of the Directors
IHFL-6.05% 441,308.00
Tata Capital Financial
Services Limited
Repayble in 36 Monthly EMI Hypothecation of Vehicle acquired out of
Loan
LTLR-4.60% 25,320.00
Tata Capital Financial
Services Limited
Repayble in 48 Monthly
Installments and Interest
Payable Monthly
Hypothecation of Equipments and First Pari
Passu charge over Immovable peroperty
of the Company situated at Haridwar and
Personal Guarantee of the Directors
LTLR-4.60% 375,000.00
State Bank of India Repayble in 12 Monthly
Installments of Rs.17 Lac,12
Monthly Installments of
Rs..33 Lac and 6 Monthly
Installmnets of Rs..67 Lac
during the F.Y. 2013-14,2014-
15 and 2015-16 respectively
and Interest Payable Monthly
First Pari Passu charge over fxed
assets of the company except vehicles
& immovable properties of the company
situated at Ghaziabad,Haridwar and
others immovable properties specifcally
mortgage to other lenders.The same is
also secured by the personal guarantee of
the directors.
BR+3.75% -
ICICI Bank Repayble in 120 Monthly EMI Mortgage of Personal Property of Directors
and the Personal Guarantee of the Directors
BR+2.50% 935,604.00
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
18 30th Annual Report 2012-2013
Note 6 Other long-term liabilities
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Trade Payables:
(i) Other than Acceptances 313,400.00 415,475.00
(b) Others:
(i) Trade / security deposits received 510,000.00 510,000.00
Total 823,400.00 925,475.00
Note 7 Long-term provisions
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Provision for employee benefts:
(i) Provision for gratuity (net) (Refer Note 26) 6,557,135.00 5,655,170.00
(ii) Provision for other employee benefts (Leave Encashment) (Refer Note 26) 3,755,787.00 2,919,862.00
10,312,922.00 8,575,032.00
(b) Provision - Others:
(i) Provision for other contingencies (Refer Note 31) 6,000,000.00 6,000,000.00
6,000,000.00 6,000,000.00
Total 16,312,922.00 14,575,032.00
Note 8 Short-term borrowings
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Loans repayable on demand
From banks
Secured 249,820,308.08 288,739,858.39
Unsecured 1,655,149.00 38,854,784.00
251,475,457.08 327,594,642.39
(b) Loans and advances from related parties
Unsecured 64,484,767.68 25,985,902.00
64,484,767.68 25,985,902.00
Total 315,960,224.76 353,580,544.39
Notes:
Details of Security and terms against the Short Term Borrowings from Banks
Particulars Security Rate of Interest
State Bank of India First Pari Passu charge over Current assets of the company and 2
nd
parri passu charge over the fxed
assets of the company except vehicles & immovable properties of the company specifcally mortage to
other lenders.The same is also secured by way of mortagage of personal property of the Director and
the Personal Guarantee of the Directors.
BR+3.75%
Kotak Mahindra Bank First Pari Passu charge over Current assets of the company and 2
nd
parri passu charge over the fxed
assets of the company except vehicles & immovable properties of the company specifcally mortage to
other lenders.The same is also secured by way of mortagage of personal property of the Director and
the Personal Guarantee of the Directors.
BR+3.25%
Punjab National Bank First Pari Passu charge over Current assets of the company and 2
nd
parri passu charge over the fxed
assets of the company except vehicles & immovable properties of the company specifcally mortage to
other lenders.The same is also secured by way of mortagage of personal property of the Director and
the Personal Guarantee of the Directors.
BR+3.25%
Central Bank of India Mortagage of personal property of the Directors and the Personal Guarantee of the Directors. BR+3.50%
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
19 30th Annual Report 2012-2013
Details of terms and conditions Short Term Borrowings received from Related parties
Name of Party Terms of Repayment Rate of Interest
H.S.Gupta Payable on demand 12%
Ashok Gupta Payable on demand 12%
Adit Gupta Payable on demand 12%
Ashoka Productions & Communications (P) Ltd. Payable on demand 12%
Note 9 Trade payables
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Trade payables:
Other than Acceptances 317,625,390.36 230,353,091.88
Total 317,625,390.36 230,353,091.88
Note 10 Other current liabilities
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Current maturities of long-term debt (Refer Note (i) below) 122,284,788.25 135,128,849.39
(b) Other payables
(i) Statutory remittances (Contributions to PF and ESIC, Withholding Taxes, Excise Duty, VAT,
Service Tax, etc.)
4,048,668.88 5,576,610.73
(ii) Interest payable 274,802.84 -
(iii) Advances from customers 2,673,923.31 2,635,275.35
(iv) Others (Expenses Payable) 18,856,223.23 28,990,566.10
Total 148,138,406.51 172,331,301.57
Note (i): Current maturities of long-term debt (Refer Notes in Note 5 - Long-term borrowings for details of security and guarantee):
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Term loans
From banks
Secured 114,886,235.02 131,800,653.00
114,886,235.02 131,800,653.00
From other parties
Secured 7,398,553.23 3,328,196.39
7,398,553.23 3,328,196.39
Total 122,284,788.25 135,128,849.39
Note 11 Short-term provisions
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Provision for employee benefts:
(i) Provision for bonus 2,853,610.00 2,815,448.00
2,853,610.00 2,815,448.00
(b) Provision - Others:
(i) Provision for tax (net of advance tax Rs.98,48,247.30
(As at 31 March, 2012 Rs.2,40,55,788.00))
1,856,752.70 8,944,212.00
(ii) Provision for proposed equity dividend 17,250,074.00 19,166,749.00
(iii) Provision for tax on proposed dividends 2,798,394.00 3,109,326.00
(iv) Other Current Liabilities :-
(a) Forward Contract Payable 4,110,434.36 113,751,827.70
(b) Deferred Forward Premium 301,569.51 3,564,592.18
(c) Wealth Tax Payable 62,000.00 75,000.00
26,379,224.57 148,611,706.88
Total 29,232,834.57 151,427,154.88
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
20 30th Annual Report 2012-2013
Note 12 :Fixed Assets
GROSS BLOCK ACCUMULATED DEPRECIATION NET BLOCK
Balance as at
1 April, 2012
Additions Disposals Balance as at
31st March,
2013
Balance as at
1 April, 2012
Depreciation
Charge for
the year
On
Diposals
Balance as at
31st March,
2013
Balance as at
31st March,
2013
Balance as at
31st March,
2012
Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs.
(i) Tangible Assets
(a) Land 161,200,632.47 - - 161,200,632.47 - - - - 161,200,632.47 161,200,632.47
(b) Buildings 99,209,252.00 2,882,397.01 - 102,091,649.01 15,577,159.30 3,297,278.00 - 18,874,437.30 83,217,211.71 83,632,092.70
(c) Plant and Equipments 964,618,285.79 93,554,632.50 22,000.00 1,058,150,918.29 384,176,665.40 75,558,829.00 6,482.00 459,729,012.40 598,421,905.89 580,441,620.39
(d) Furniture and Fixtures 20,261,588.59 539,830.00 - 20,801,418.59 7,049,861.33 1,257,971.00 - 8,307,832.33 12,493,586.26 13,211,727.26
(e) Vehicles 23,629,947.15 0.00 760,468.00 22,869,479.15 11,856,648.91 2,047,571.72 718,260.29 13,185,960.34 9,683,518.81 11,773,298.25
(f) Offce equipment 11,741,762.49 252,972.00 - 11,994,734.49 8,367,222.33 262,702.00 - 8,629,924.33 3,364,810.16 3,374,540.16
Total 1,280,661,468.49 97,229,831.51 782,468.00 1,377,108,832.00 427,027,557.27 82,424,351.72 724,742.29 508,727,166.70 868,381,665.30 853,633,911.23
Previous Year 1,272,729,387.59 17,753,665.00 9,821,584.10 1,280,661,468.49 354,835,403.06 75,985,895.34 3,793,741.13 427,027,557.27 853,633,911.22 917,893,984.53
(ii) Intangible Assets
(a) Computer software 2,254,905.00 13,965.00 - 2,268,870.00 1,012,234.00 365,520.00 - 1,377,754.00 891,116.00 1,242,671.00
Total 2,254,905.00 13,965.00 - 2,268,870.00 1,012,234.00 365,520.00 - 1,377,754.00 891,116.00 1,242,671.00
Previous Year 1,465,100.00 789,805.00 - 2,254,905.00 744,658.00 267,576.00 - 1,012,234.00 1,242,671.00 720,442.00
(iii) Capital Work in Progress - 7,836,529.00 - 7,836,529.00 - - - - 7,836,529.00 -
Total - 7,836,529.00 - 7,836,529.00 - - - - 7,836,529.00 -
Previous Year - - - - - - - - - -
Grand Total 1,282,916,373.49 105,080,325.51 782,468.00 1,387,214,231.00 428,039,791.27 82,789,871.72 724,742.29 510,104,920.70 877,109,310.30 854,876,582.22
Previous Year 1,274,194,487.59 18,543,470.00 9,821,584.10 1,282,916,373.49 355,580,061.06 76,253,471.34 3,793,741.13 428,039,791.27 854,876,582.22 918,614,426.53
Note : Capital work in progress reperesnt the amount paid for electrical appliances,equipments, furniture & fxtures etc. during the construction period of the premises taken on rent.However no rent has been
paid during the current fnancial year.
Note 13 Non-current investments
Particulars As at 31st March, 2013 As at 31st March, 2012
Quoted Unquoted Total Quoted Unquoted Total
Rs. Rs. Rs. Rs. Rs. Rs.
Investments (At cost):
A. Trade
(a) Investment in equity instruments
(i) of subsidiaries - 52,000,000.00 52,000,000.00 - 52,000,000.00 52,000,000.00
52,00,000 (As at 31 March, 2012: 52,00,000)
Equity Shares of Rs.10 each fully paid up in
AMD Estates & Developers (P) Limited
- 52,000,000.00 52,000,000.00 - 52,000,000.00 52,000,000.00
Total - Trade (A) - 52,000,000.00 52,000,000.00 52,000,000.00 52,000,000.00
B. Other investments
(a) Investment in equity instruments
(i) of other STL Global Limited (50000 Equity
Shares fully paid up)
138,500.00 - 138,500.00 3,321,885.69 - 3,321,885.69
138,500.00 - 138,500.00 3,321,885.69 - 3,321,885.69
(b) Investment in mutual funds
(i) SBI One India Fund - Dividend 100,000.00 100,000.00 100,000.00 100,000.00
(10000 Units at Rs.10 Each)
(ii) SBI Infrastructure Fund - I - Growth 100,000.00 100,000.00 100,000.00 100,000.00
(10000 Units at Rs.10 Each)
(iii) Union KBC Equity Fund Growth 500,000.00 500,000.00 500,000.00 500,000.00
(50000 Units at Rs.10 Each)
700,000.00 700,000.00 700,000.00 700,000.00
Total - Other investments (B) 838,500.00 838,500.00 4,021,885.69 4,021,885.69
Total (A+B) 838,500.00 52,000,000.00 52,838,500.00 4,021,885.69 52,000,000.00 56,021,885.69
Less: Provision for diminution in value of
investments 5,001.58 36,300.00
Total 52,833,498.42 55,985,585.69
Aggregate amount of quoted investments 838,500.00 4,021,885.69
Aggregate amount of unquoted investments 52,000,000.00 52,000,000.00
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
21 30th Annual Report 2012-2013
Note 14 Long-term loans and advances
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Capital advances
Unsecured, considered good 117,933,103.92 131,434,437.00
117,933,103.92 131,434,437.00
(b) Security deposits
Unsecured, considered good 21,351,211.00 16,693,811.00
21,351,211.00 16,693,811.00
(c) Loan and advances to related parties (Refer Note 14(i) below)
Unsecured, considered good 325,000,000.00 325,000,000.00
325,000,000.00 325,000,000.00
(d) Other Loans and Advances
(i) Prepaid expenses - Unsecured, considered good 57,700.00 104,000.00
57,700.00 104,000.00
(ii) Advances to suppliers
Unsecured, considered good 1,460,527.00 440,237.00
1,460,527.00 440,237.00
(iii) Advances recoverable in cash or kind
Unsecured, considered good 9,177,874.00 4,136,962.00
9,177,874.00 4,136,962.00
Total 474,980,415.92 477,809,447.00
Note 14(i)
Loan and Advances to related parties represents advance to its subsidiary AMD Estates & Developers (P) Limited against sharing of revenue in Commercial
Project of the said Subsidiary Company at Gurgaon.
Note 15 Inventories
(At lower of cost and net realisable value)
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Raw materials 331,595,578.00 215,381,180.01
Goods-in-transit 42,889,196.00 24,724,168.00
374,484,774.00 240,105,348.01
(b) Work-in-progress (Refer Note below) 38,923,900.00 17,974,600.00
38,923,900.00 17,974,600.00
(c) Finished goods (other than those acquired for trading) 71,726,900.00 33,677,400.00
71,726,900.00 33,677,400.00
(d) Stock-in-trade (acquired for trading) - 2,300.00
- 2,300.00
(e) Stores and spares 28,013,386.00 23,064,006.00
28,013,386.00 23,064,006.00
(f) Others - Packing Materials 11,044,484.00 4,334,531.00
11,044,484.00 4,334,531.00
(g) Others - Waste & Scrap 9,385,364.00 6,187,689.00
9,385,364.00 6,187,689.00
(g) Others - Real Estates 44,181,401.93 44,181,401.93
44,181,401.93 44,181,401.93
Total 577,760,209.93 369,527,275.94
Note: Details of inventory of work-in-progress
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
22 30th Annual Report 2012-2013
Note 16 Trade receivables
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Trade receivables outstanding for a period exceeding six months
Unsecured, considered good 16,105,011.29 17,298,634.03
Doubtful 1,596,709.00 1,592,552.00
17,701,720.29 18,891,186.03
Less : Provision for Doubtful trade receivables 320,000.00 -
17,381,720.29 18,891,186.03
Other Trade receivables
Unsecured, considered good 291,792,603.47 346,913,691.12
291,792,603.47 346,913,691.12
Total 309,174,323.76 365,804,877.15
Note 17 Cash and cash equivalents
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Cash on hand 76,291.05 88,120.80
(b) Balances with banks
(i) In current accounts 731,514.98 7,611,895.82
(ii) In EEFC accounts 310,044.58 583,515.10
(iii) Balances held as margin money or security 40,109,759.00 33,802,504.00
against borrowings, guarantees and other commitments
(c) Others - Foreign Currency in Hand 186,555.30 144,388.00
Total 41,414,164.91 42,230,423.72
Note 18 Short-term loans and advances
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Loans and advances to employees
Unsecured, considered good 667,568.00 641,533.00
667,568.00 641,533.00
(b) Loans and advances to related parties (Refer Note 18 (i) below)
Unsecured, considered good 56,464,201.00 47,584,398.00
56,464,201.00 47,584,398.00
(c) Prepaid expenses - Unsecured, considered good 4,910,520.00 2,182,620.40
4,910,520.00 2,182,620.40
(d) Balances with government authorities
Unsecured, considered good
(i) CENVAT credit receivable 119,150,277.78 82,110,308.44
(ii) VAT credit receivable 9,950,773.00 2,808,364.00
(iii) Service Tax credit receivable 13,771,363.61 24,486,255.38
142,872,414.39 109,404,927.82
(e) Others (Advances to Suppliers))
Unsecured, considered good 30,045,590.54 5,120,568.57
30,045,590.54 5,120,568.57
Total 234,960,293.93 164,934,047.79
Note: 18 (i) Loans and Advances to related parties represents the loan given to Subsidiary Company AMD Estate & Developers (P) Limited without any specifc
repayment schedule.
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Pet Preform
CSD Closures 3,645,200.00 4,302,600.00
Crown Caps 13,560,400.00 3,500,200.00
Job Work (Pet Preform) 21,718,300.00 10,171,800.00
38,923,900.00 17,974,600.00
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
23 30th Annual Report 2012-2013
Note 19 Other current assets
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Accruals
(i) Interest accrued on deposits 1,251,390.72 1,422,543.90
(b) Others
(i) Others - (i) Forward Contract Receivables 5,060,172.56 111,277,384.15
(ii) Exports Incentive Receivables 3,556,985.84 5,095,545.06
Total 9,868,549.12 117,795,473.11
Note 20 Revenue from operations
Particulars For the year ended
31st March, 2013
Rs.
“For the year ended
31st March, 2012
Rs.
(a) Sale of products (Refer Note (i) below) 1,500,529,172.93 1,746,847,489.25
(b) Sale of services (Refer Note (ii) below) 319,624,603.00 237,740,383.51
(c) Other operating revenues (Refer Note (iii) below) 32,021,585.00 55,762,909.21
1,852,175,360.93 2,040,350,781.97
Less:
(d) Excise duty 282,738,787.00 220,273,280.00
Total 1,569,436,573.93 1,820,077,501.97
Note Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(i) Sale of products comprises:
Manufactured goods
Crown Caps 559,156,884.73 796,862,252.00
CSD Closures 445,391,260.72 403,100,890.21
Pet - Preforms 495,865,212.48 546,576,913.04
Others
Total - Sale of manufactured goods 1,500,413,357.93 1,746,540,055.25
Traded goods
Others 115,815.00 307,434.00
Total - Sale of traded goods 115,815.00 307,434.00
Total - Sale of products 1,500,529,172.93 1,746,847,489.25
(ii) Sale of services comprises :
Jobwork - Pet Preform 319,624,603.00 237,740,383.51
Total - Sale of services 319,624,603.00 237,740,383.51
(iii) Other operating revenues comprise:
Sale of scrap 19,994,351.00 28,645,223.57
Duty drawback and other export incentives 5,401,168.00 18,921,121.00
Others - Discount on Purchase 6,626,066.00 8,196,564.64
Total - Other operating revenues 32,021,585.00 55,762,909.21
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
24 30th Annual Report 2012-2013
Note 21 Other income
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(a) Interest income (Refer Note (i) below) 10,014,145.64 4,891,094.41
(b) Dividend income:
others 14,450.98 18,900.00
(c) Other non-operating income (Refer Note (ii) below) 3,171,514.46 1,996,705.92
Total 13,200,111.08 6,906,700.33
Note Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(i) Interest income comprises:
Interest from banks on:
deposits 2,315,695.82 2,769,140.11
Interest on loans and advances 333,017.00 960,736.30
Interest on overdue trade receivables 1,975,894.82 (1,384,981.00)
Interest income from Short term loans and advances to
subsidiaries 5,389,538.00 2,546,199.00
Total - Interest income 10,014,145.64 4,891,094.41
(ii) Other non-operating income comprises:
Rental Income 2,040,000.00 1,680,806.00
Miscellaneous income 1,131,514.46 315,899.92
Total - Other non-operating income 3,171,514.46 1,996,705.92
Note 22.a Cost of materials consumed
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Opening stock 240,105,348.01 309,186,960.00
Add: Purchases 1,100,593,034.62 951,256,305.00
1,340,698,382.63 1,260,443,265.00
Less: Closing stock 374,484,774.00 240,105,348.01
Cost of material consumed 966,213,608.63 1,020,337,916.99
Material consumed comprises:
Tin Free Sheets 246,396,118.09 354,248,609.00
Polypropylene 223,366,058.57 168,509,861.00
Resin 350,780,901.18 341,512,408.00
Other items (includes Lining Compund, Lacquer, PVC etc.) 145,670,530.79 156,067,038.99
Total 966,213,608.63 1,020,337,916.99
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
25 30th Annual Report 2012-2013
Note 22.b Purchase of traded goods
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Traded good - Real Estates - DLF Pinnacle - 247,826.00
Traded good - Real Estates - DLF Courtyard - 1,706,714.00
Others 30,923.00 91,192.50
Total 30,923.00 2,045,732.50
Note 22.c Changes in inventories of fnished goods, work-in-progress and stock-in-trade
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Inventories at the end of the year:
Finished goods 71,726,900.00 33,677,400.00
Work-in-progress 38,923,900.00 17,974,600.00
Stock-in-trade - Real Estates 44,181,401.93 44,181,401.93
Stock-in-trade -Waste & Scrap 9,385,364.00 6,187,689.00
Stock-in-trade - Trading Goods - 2,300.00
164,217,565.93 102,023,390.93
Inventories at the beginning of the year:
Finished goods 33,677,400.00 89,198,690.00
Work-in-progress 17,974,600.00 22,414,100.00
Stock-in-Trade - Real Estates 44,181,401.93 42,226,861.93
Stock-in-trade -Waste & Scrap 6,187,689.00 5,582,599.00
Stock-in-trade - Trading Goods 2,300.00 2,300.00
102,023,390.93 159,424,550.93
Net (increase) / decrease (62,194,175.00) 57,401,160.00
Note 23 Employee benefts expense
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Salaries and wages 107,659,001.87 110,438,900.00
Contributions to provident and other funds 2,586,739.00 2,462,980.40
Staff welfare expenses 1,748,359.00 1,505,132.00
Total 111,994,099.87 114,407,012.40
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
26 30th Annual Report 2012-2013
Note 24 Finance costs
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(a) Interest expense on:
(i) Borrowings 88,727,138.46 93,306,835.60
(ii) Trade payables 7,613,629.34 7,916,169.21
(b) Other borrowing costs - Processing Fees 4,691,632.00 2,299,852.73
(c) Net (gain) / loss on foreign currency transactions - 3,822,726.75
Total 101,032,399.80 107,345,584.29
Note 25 Other expenses
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Business promotion 730,224.70 755,084.41
Communication 3,086,750.20 2,792,601.57
Consumption of stores and spare parts 6,302,123.85 6,680,405.20
Consumption of packing materials 52,713,779.54 50,071,993.82
Commission Paid 41,012,391.00 49,723,901.35
Donations and contributions 789,610.00 103,100.00
Freight and forwarding 37,017,944.25 46,369,461.66
Legal and professional 8,728,074.03 5,710,322.89
Net loss on foreign currency transactions (other than considered as fnance cost) (8,377,000.03) 25,070,748.89
Auditors Remuneration (Refer Note 25 (i) below) 767,200.00 752,500.00
Printing and stationery 1,141,732.00 1,337,467.00
Power and fuel 123,406,200.00 98,125,198.00
Insurance 5,637,125.20 3,848,442.14
Rates and taxes 1,573,295.00 1,097,919.00
Rent 27,958,641.50 19,889,408.81
Repairs and maintenance - Buildings 3,438,130.00 3,842,222.50
Repairs and maintenance - Machinery 9,828,194.94 13,866,022.75
Repairs and maintenance - Others 2,915,761.94 4,122,190.43
Sales discount 4,676,520.65 9,238,892.72
Travelling and conveyance 14,660,667.03 13,442,077.86
Water 100,039.00 120,385.00
“Permanent dimunition in the carrying amount of long term investments
(other than subsidiaries)”
3,152,087.27 38,300.00
Provision for doubtful trade receivables 320,000.00 -
Miscellaneous expenses 18,583,727.52 12,649,320.50
Total 360,163,219.59 369,647,966.50
Notes: 25 (i) Auditors Remuneration includes:
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(i) Payments to the auditors comprises (net of service tax input credit, where applicable):
As auditors - statutory audit 520,000.00 520,000.00
For taxation audit fees 130,000.00 130,000.00
For taxation matters 35,000.00 62,000.00
For other services 82,200.00 40,500.00
Total 767,200.00 752,500.00
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
27 30th Annual Report 2012-2013
Note 26 Disclosures under Accounting Standards (contd.)
Employee beneft plans
Defned beneft plans
The Company offers the following employee beneft schemes to its employees:
i. Gratuity
ii. Other defned beneft plans (Leave Encashment)
The following table schemes and the amount recognised in the fnancial statements:
Rs.
Particulars For the year ended
31st March, 2013
For the year ended
31st March, 2012
Gratuity Other defned
beneft plans (Leave
Encashment)
Gratuity Other defned
beneft plans (Leave
Encahsment)
Components of employer expense
Current service cost 1,197,064.00 932,996.00 1,038,230.00 874,831.00
Interest cost 486,345.00 251,108.00 372,317.00 178,060.00
Curtailment cost / (credit) - (224,362.00) - -
Past service cost - 500,772.00 - -
Actuarial losses/(gains) 639,579.00 426,442.00 201,270.00 170,731.00
Total expense recognised in the Statement of Proft and Loss 2,322,988.00 1,886,956.00 1,611,817.00 1,223,622.00
Actual contribution and beneft payments for year
Actual beneft payments (1,421,023.00) (1,051,031.00) (610,615.00) (529,507.00)
Actual contributions
Net asset / (liability) recognised in the Balance Sheet
Present value of defned beneft obligation 5,655,170.00 2,919,862.00 4,653,968.00 2,225,747.00
Funded status [Surplus / (Defcit)] 901,965.00 835,925.00 1,001,202.00 694,115.00
Net asset / (liability) recognised in the Balance Sheet 6,557,135.00 3,755,787.00 5,655,170.00 2,919,862.00
Note 26 Disclosures under Accounting Standards (contd.)
Rs.
Particulars For the year ended
31st March, 2013
For the year ended
31st March, 2012
Gratuity Other defned
beneft
plans (Leave
Encashment)
Gratuity Other defned
beneft
plans (Leave
Encahsment)
Change in defned beneft obligations (DBO) during the year
Present value of DBO at beginning of the year 5,655,170.00 2,919,862.00 4,653,968.00 2,225,747.00
Current service cost 1,197,064.00 932,996.00 1,038,230.00 874,831.00
Interest cost 486,345.00 251,108.00 372,317.00 178,060.00
Curtailment cost / (credit) - (224,362.00) -
Actuarial (gains) / losses 639,579.00 426,442.00 201,270.00 170,731.00
Past service cost - 500,772.00 - -
Benefts paid (1,421,023.00) (1,051,031.00) (610,615.00) (529,507.00)
Present value of DBO at the end of the year 6,557,135.00 3,755,787.00 5,655,170.00 2,919,862.00
Actuarial assumptions
Discount rate 8.00% 8.00% 8.60% 8.60%
Salary escalation 7.50% 7.50% 7.50% 7.50%
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
28 30th Annual Report 2012-2013
Note 27 Disclosures under Accounting Standards (contd.)
Particulars
Segment information
The Company has identifed business segments as its primary segment and geographic segments as its secondary segment. Business segments are primarily
Packaging,Textile and Real Estate. Revenues and expenses directly attributable to segments are reported under each reportable segment. Expenses which
are not directly identifable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. Assets
and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. Fixed assets that are used interchangeably
amongst segments are not allocated to primary and secondary segments. Geographical revenues are allocated based on the location of the customer. Geographic
segments of the Company are India and Others.
Particulars “For the year ended
31st March, 2013”
Business segments Total
PACKAGING TEXTILE REAL ESTATE Eliminations
Rs. Rs. Rs. Rs. Rs.
Revenue 1,569,436,573.93 - - - 1,569,436,573.93
(1,820,077,501.97) (-) (-) (-) (1,820,077,501.97)
Inter-segment revenue - - - - -
(-) (-) (-) (-) (-)
Total 1,569,436,573.93 - - - 1,569,436,573.93
(1,820,077,501.97) (-) (-) (-) (1,820,077,501.97)
Segment result 20,006,772.96 -2316310.30 -8,275,062.05 - 9,415,400.61
(101,249,718.79) (-) (-4467523.81) (-) (96,782,194.98)
Unallocable expenses (net) -
(-)
Operating income 9,415,400.61
(96,782,194.98)
Other income (net) 13,200,111.08
(6,906,700.33)
Proft before taxes 22,615,511.69
(103,688,895.31)
Tax expense 6,712,482.00
(38,657,144.00)
Net proft for the year 15,903,029.69
(65,031,751.31)
Note 27 Disclosures under Accounting Standards (contd.)
Particulars For the year ended
31st March, 2013
Business segments Total
PACKAGING TEXTILE REAL ESTATE
Rs. Rs. Rs. Rs.
Segment assets 1,948,705,065.89 151,750,097.47 477,645,602.93 2,578,100,766.29
(1,806,284,712.23) (173,913,200.47) (468,765,799.93) (2,448,963,712.63)
Unallocable assets - - - -
(-) (-) (-) (-)
Total assets 1,948,705,065.89 151,750,097.47 477,645,602.93 2,578,100,766.29
(1,806,284,712.23) (173,913,200.47) (468,765,799.93) (2,448,963,712.63)
Segment liabilities 2,549,844,069.38 - 28,256,696.91 2,578,100,766.29
(2,419,870,205.29) (-) (29,093,507.34) (2,448,963,712.63)
Unallocable liabilities - - - -
(-) (-) (-) (-)
Total liabilities 2,549,844,069.38 - 28,256,696.91 2,578,100,766.29
(2,419,870,205.29) (-) (29,093,507.34) (2,448,963,712.63)
Other information
Capital expenditure (allocable) 105,080,325.51 - - 105,080,325.51
(18,543,470.00) (-) (-) (18,543,470.00)
Depreciation and amortisation (allocable) 82,789,871.72 - - 82,789,871.72
(76,253,471.34) (-) (-) (76,253,471.34)
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
29 30th Annual Report 2012-2013
Note 27 Disclosures under Accounting Standards (contd.)
Particulars
The geographic segments individually contributing 10 percent or more of the Company’s revenues and segment assets are shown separately:
Geographic Segment Revenues
For the
year ended
31 March, 2013
Rs.
Segment assets
As at
31 March,
2013
Rs.
Capital expenditure
incurred during the
year ended
31 March, 2013
Rs.
India 1,441,009,883.41 2,578,100,766.29 -
(1,470,637,593.76) (2,448,963,712.63) (-)
Others 128,426,690.52 - -
(349,439,908.21) (-) (-)
Note: Figures in bracket relates to the previous year
Note 28 Related Party disclosure
As required by Accounting Standard - 18, “Related Party Disclosures” issued by the Institute of Chartered Accountants of India, relevant information is provided
here below:
28.1 Related parties with whom transactions have taken place during the year:
Name Relationship
Sh. H S Gupta Key Managerial Personnnel
Sh. Ashok Gupta Key Managerial Personnnel
Sh. Adit Gupta Key Managerial Personnnel
Mrs. Chitra Gupta Key Managerial Personnnel’s relative
Ms. Vidhi Gupta Key Managerial Personnnel’s relative
Ms. Mamta Gupta Key Managerial Personnnel’s relative
Ashoka Productions and Communications (P) Limited Company in which KMP / Relatives of KMP can exercise signifcant
infuence
Kadam Trees Properties (P) Limited Company in which KMP / Relatives of KMP can exercise signifcant
infuence
AMD Estates & Developers Private Limited Subsidiary Company
28.2 Followings are the details of the transactions with the related party:
Nature of transaction Related Parties Amount in Rs.
Salaries, Allowance & Perquisites Key Managerial Personnnel 21,682,363.00
(30,129,744.00)
Salaries, Allowance & Perquisites Key Managerial Personnnel’s relative 2,303,400.00
(2,319,900.00)
Rent Paid Company in which KMP / Relatives of KMP can exercise signifcant infuence 3,960,000.00
(1,380,000.00)
Rent Paid Key Managerial Personnnel 9,729,000.00
(9,729,000.00)
Rent Paid Key Managerial Personnnel’s relative 1,380,000.00
(1,380,000.00)
Interest paid Company in which KMP / Relatives of KMP can exercise signifcant infuence 2,015,384.68
(4,773,121.00)
Interest paid Key Managerial Personnnel 2,756,996.00
(1,839,798.00)
Interest Income Subsidiary Company 5,389,538.00
(2,546,199.00)
Repayment of Unsecured Loans Key Managerial Personnnel 4,971,977.00
(21,059,848.00)
Repayment of Unsecured Loans Company in which KMP / Relatives of KMP can exercise signifcant infuence 701,538.00
(34,477,312.00)
Unsecured Loans Received Key Managerial Personnnel 42,156,996.00
(19,589,798.00)
Unsecured Loans Received Company in which KMP / Relatives of KMP can exercise signifcant infuence 2,015,384.68
(6,773,121.00)
Loans & Advance given to subsidiary Subsidiary Company 49,179,803.00
(58,427,002.00)
Loans & Advance received back from
subsidiary
Subsidiary Company 40,300,000.00
(80,129,689.17)
Refund of Security provided against rent of
guest house
Company in which KMP / Relatives of KMP can exercise signifcant infuence -
(11,450,000.00)
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
30 30th Annual Report 2012-2013
28.3 Disclosure of Material Transactions:
Particulars Current Year Previous Year
Salaries, Allowance & Perquisite
Sh. H S Gupta ( Chairman) 7,317,954.00 10,045,156.00
Sh. Ashok Gupta ( Managing Director) 7,515,575.00 10,044,988.00
Sh. Adit Gupta ( Joint Managing Director) 6,848,834.00 10,039,600.00
Salaries, Allowance & Perquisite
Ms. Vidhi Gupta 1,151,700.00 1,151,700.00
Ms. Mamta Gupta 1,151,700.00 1,168,200.00
Rent Paid
Kadam Trees Properties (P) Limited 3,960,000.00 1,380,000.00
Sh. Ashok Gupta ( Managing Director) 1,035,000.00 1,035,000.00
Sh. Adit Gupta ( Joint Managing Director) 8,694,000.00 8,694,000.00
Mrs. Chitra Gupta 1,380,000.00 1,380,000.00
Interest Paid
Ashoka Productions and Communications (P) Limited 2,015,384.68 4,773,121.00
Sh. H S Gupta ( Chairman) 1,204,129.00 685,532.00
Sh. Ashok Gupta ( Managing Director) 966,309.00 762,984.00
Sh. Adit Gupta ( Joint Managing Director) 586,558.00 391,282.00
Interest Income
AMD Estates & Developers Private Limited 5,389,538.00 2,546,199.00
Repayment of Unsecured Loans
Ashoka Productions and Communications (P) Limited 701,538.00 34,477,312.00
Sh. H S Gupta ( Chairman) 737,392.00 68,553.00
Sh. Ashok Gupta ( Managing Director) 3,823,775.00 14,952,167.00
Sh. Adit Gupta ( Joint Managing Director) 410,810.00 6,039,128.00
Unsecured Loans Received
Ashoka Productions and Communications (P) Limited 2,015,384.68 6,773,121.00
Sh. H S Gupta ( Chairman) 7,604,129.00 685,532.00
Sh. Ashok Gupta ( Managing Director) 26,966,309.00 16,012,984.00
Sh. Adit Gupta ( Joint Managing Director) 7,586,558.00 2,891,282.00
Loans & Advance Given to Subsidiary
AMD Estates & Developers Private Limited 49,179,803.00 58,427,002.00
Loans & Advance received back from Subsidiary
AMD Estates & Developers Private Limited 40,300,000.00 80,129,689.17
Refund of Security provided against rent of guest house
Kadam Trees Properties (P) Limited - 11,450,000.00
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
31 30th Annual Report 2012-2013
Note 29 Disclosures under Accounting Standards (contd.)
Basic and diluted earnings per share are calculated by dividing the net proft or loss for the year attributable to equity shareholders by the weighted average
number of equity shares outstanding during the year. The company has not issued any potential equity shares, accordingly, basic and diluted earning per share
are the same.
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Earnings per share
(a) Proft after taxation and exceptional items 15,903,029.69 65,031,751.31
(b) Weighted average number of shares outstanding during the year 19,166,749.00 19,166,749.00
(c) Nominal Value per Share 10.00 10.00
(d) Basic and Diluted earning per share 0.83 3.39
Note 30 Disclosures under Accounting Standards (contd.)
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Deferred tax (liability) / asset
Tax effect of items constituting deferred tax liability
On difference between book balance and tax balance of fxed assets 83,674,903.00 90,536,072.00
Tax effect of items constituting deferred tax liability 83,674,903.00 90,536,072.00
Tax effect of items constituting deferred tax assets
Provision for compensated absences, gratuity and other employee benefts 2,127,463.00 2,926,203.00
On items included in Reserves and surplus pending amortisation into the Statement of Proft and Loss - 2,897,656.00
Tax effect of items constituting deferred tax assets 2,127,463.00 5,823,859.00
Net deferred tax (liability) / asset (81,547,440.00) (84,712,213.00)
Note 31 Disclosures under Accounting Standards (contd.)
Particulars
Details of provisions
The Company has made provision for various contractual obligations and disputed liabilities based on its assessment of the amount it estimates to incur to meet
such obligations, details of which are given below:
Particulars As at 1st April,
2012
Additions Utilisation Reversal
(withdrawn
as no longer
required)
As at 31st
March, 2013
Rs. Rs. Rs. Rs. Rs.
Provision for other contingencies:
(i) Sales Tax Demand for the Year 1999-2000 to 2006-2007 4,100,000.00 - - - 4,100,000.00
(4,100,000.00) - - - (4,100,000.00)
(ii) Entry Tax for the Year 2004-2005 and 2005-2006 1,900,000.00 - - - 1,900,000.00
(1,900,000.00) - - - (1,900,000.00)
Total 6,000,000.00 - - - 6,000,000.00
(6,000,000.00) - - - (6,000,000.00)
Note: - Figures in brackets relate to the previous year.
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
32 30th Annual Report 2012-2013
Note 32 Additional information to the fnancial statements
Note
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
32.1 Contingent liabilities and commitments (to the extent not provided for)
(i) Contingent liabilities
(a) Claims against the Company not acknowledged as debt Nil Nil
(b) Guarantees - Corporate Guarantee for Subsidiary Company i.e. AMD
Estates and Developers (P) Limited
230,000,000.00 230,000,000.00
“(c) Other money for which the Company is contingently liable against
pending legal cases”
- Sales Tax Matters 19,510,149.00 19,001,276.00
- Entry Tax Matters 2,285,409.00 2,285,409.00
- Excise Matters 10,425,252.00 1,041,360.00
- Labour Dispute 522,000.00 522,000.00
32,742,810.00 22,850,045.00
32.2 The Company has not received any Memorandum, (as required to be fled by the supplier which are registered with the Notifed Authority under the
provisions of the Micro, Small & Medium Enterprises Development Act, 2006) claiming their status as on 31st March 2013 as Micro, Small and Medium
Enterprise. Consequently, interest paid/payable to these parties during the year is NIL.
32.3 Disclosure as per Clause 32 of the Listing Agreements with the Stock Exchanges
Loans and advances in the nature of loans given to subsidiaries without any specifc repayment schedule:
Name of the party Relationship Amount outstanding
as at 31 March, 2013
Maximum balance
outstanding during
the year
AMD Estates & Developers (P) Limited Subsidiary 56,464,201.00 56,464,201.00
(47,584,398.00) (69,228,085.17)
Note: Figures in bracket relate to the previous year.
Note 32 Additional information to the fnancial statements
Note Particulars
32.4 Details on derivatives instruments and unhedged foreign currency exposures
I. The following derivative positions are open as at 31 March, 2013. These transactions have been undertaken to act as economic hedges for the
Company’s exposures to various risks in foreign exchange markets and may / may not qualify or be designated as hedging instruments.
(a) Forward exchange contracts and options [being derivative instruments], which are not intended for trading or speculative purposes but for hedge
purposes to establish the amount of reporting currency required or available at the settlement date of certain payables and receivables.
(i) Outstanding forward exchange contracts entered into by the Company as on 31 March, 2013
Currency Amount Buy / Sell Cross currency
USD 424,425.68 Buy Rupees
USD (612,877.74) Buy Rupees
USD 500,000.00 Sell Rupees
USD (2,836,482.32) Sell Rupees
Note: Figures in brackets relate to the previous year
II. The year-end foreign currency exposures that have not been hedged by a derivative instrument or otherwise are given below:
As at 31st March, 2013 As at 31st March, 2012
Receivable/
(Payable)
Receivable/ (Payable)
in Foreign currency
Receivable/
(Payable)
Receivable/ (Payable)
in Foreign currency
Rs. (indicate amount with
currency)
Rs. (indicate amount with
currency)
24506774.00 USD 450580.80 Nil Nil
1798628.00 EURO 25863.24 Nil Nil
(111142512.00) (USD 929965.80) (47573795.00) (USD 929965.80)
(1046912.00) (EURO 15054) (14925522.00) (EURO 218400)
AMD Industries Limited AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
33 30th Annual Report 2012-2013
Note 32 Additional information to the fnancial statements
Note Particulars
32.5 Value of imports calculated on CIF basis : As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Raw materials 497,543,610.31 490,364,583.95
Spare parts 1,132,590.59 3,342,847.58
Capital goods 67,438,570.50 10,553,037.25
32.6 Expenditure in foreign currency : As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Commission 1,320,248.70 2,605,271.00
Others (Travelling Expenses etc) 3,553,732.00 803,616.36
32.7 Details of consumption of imported and indigenous items For the year ended
31 March, 2013
Rs. %
Imported
Raw materials 392,618,081.31 40.63
(484,283,904.08) (47.46)
Total 392,618,081.31 40.63
(484,283,904.08) (47.46)
Indigenous
Raw materials 573,595,527.32 59.37
(536,054,012.91) (52.54)
Total 573,595,527.32 59.37
(536,054,012.91) (52.54)
Note: Figures / percentages in brackets relates to the previous year
As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
32.8 Earnings in foreign exchange:
Export of goods calculated on FOB basis 128,426,690.52 349,439,908.21
32.9 Dividend
Borad of Directors have proposed Dividend of Rs. 0.90 Per share on Paid up Share capital of 19166749 equity shares. The distribution of the Dividend is
subject to approval by the shareholders.
Note 33 Previous year’s fgures
Previous year’s fgures have been regrouped / reclassifed wherever necessary to correspond with the current year’s classifcation / disclosure.
As per our report of even date attached
For Suresh & Associates For and on behalf of the Board of Directors
FRN No. 003316N
Chartered Accountants
(CA Suresh K. Gupta) (Ashok Gupta) (Adit Gupta)
Partner Managing Director Jt. Managing Director
Membership No.080050 DIN - 00031630 DIN - 00238784
(CA Laxmi Kant) (Joylin Jain)
DGM - Finance & Accounts Company Secretary
Place : New Delhi
Date : 28.05.2013
AMD Industries Limited AMD Industries Limited
34 30th Annual Report 2012-2013
Particulars For the year ended
31st March, 2013
For the year ended
31st March, 2012
Rs. Rs. Rs. Rs.
A. Cash fow from operating activities
Net Proft / (Loss) before extraordinary items and tax 22,615,511.69 103,688,895.31
Adjustments for:
Depreciation and amortisation 82,789,871.72 76,253,471.34
(Proft) / loss on sale / write off of assets (8,774.29) (24,143,537.03)
Finance costs 101,032,399.80 107,345,584.29
Interest income (10,014,145.64) (4,891,094.91)
Dividend income (14,450.98) (18,900.00)
Rental income from investment properties (2,040,000.00) (1,680,806.00)
Adjustments to the carrying amount of investments 3,152,087.27 38,300.00
Net unrealised exchange (gain) / loss (8,037.30) 174,888,950.58 (11,115.15) 152,891,902.54
Operating proft / (loss) before working capital changes 197,504,462.27 256,580,797.85
Changes in working capital:
Adjustments for (increase) / decrease in operating assets:
Inventories (208,232,933.99) 117,078,735.99
Trade receivables 56,630,553.39 (105,919,538.07)
Short-term loans and advances (61,146,443.14) (60,673,402.95)
Long-term loans and advances 2,829,031.08 48,512,568.00
Other current assets 107,926,923.99 77,648,485.55
Adjustments for increase / (decrease) in operating liabilities:
Trade payables 87,272,298.48 (131,913,263.30)
Other current liabilities (24,192,895.06) 18,007,684.44
Other long-term liabilities (102,075.00) 498,449.00
Short-term provisions (112,879,254.01) (56,554,035.86)
Long-term provisions 1,737,890.00 (150,156,904.26) 1,695,317.00 (91,619,000.20)
47,347,558.01 164,961,797.65
Cash fow from extraordinary items - -
Cash generated from operations 47,347,558.01 164,961,797.65
Net income tax (paid) / refunds (16,964,714.30) (25,622,744.12)
30,382,843.71 139,339,053.53
Net cash fow from / (used in) operating activities (A) 30,382,843.71 139,339,053.53
Cash Flow Statement for the year ended 31 March, 2013
B. Cash fow from investing activities
Capital expenditure on fxed assets, including capital advances (105,080,325.50) (18,543,070.00)
Proceeds from sale of fxed assets 66,500.00 30,170,980.00
Inter-corporate deposits (net) 1,313,846.68 (27,704,191.00)
Purchase of long-term investments
- Others - (500,000.00)
Loans given
- Subsidiaries (49,179,803.00) (58,427,002.00)
- Associates 14,617,821.00 (21,059,848.00)
Loans realised
- Subsidiaries 40,300,000.00 80,129,689.17
- Associates 22,567,198.00 19,589,798.00
Interest received
- Subsidiaries 5,389,538.00 2,546,199.00
- Others 4,624,607.64 2,344,895.91
Dividend received
- Others 14,450.98 18,900.00
Rental income from investment properties 2,040,000.00 (63,326,166.20) 1,680,806.00 10,247,157.08
Cash fow from extraordinary items - -
(63,326,166.20) 10,247,157.08
Net cash fow from / (used in) investing activities (B) (63,326,166.20) 10,247,157.08
AMD Industries Limited AMD Industries Limited
35 30th Annual Report 2012-2013
Particulars For the year ended
31st March, 2013
For the year ended
31st March, 2012
Rs. Rs. Rs. Rs.
C. Cash fow from fnancing activities
Proceeds from long-term borrowings 402,371,174.00 9,005,251.90
Repayment of long-term borrowings (170,824,487.51) (140,036,857.39)
Net increase / (decrease) in working capital borrowings (76,119,185.31) 83,069,071.53
Finance cost (101,032,399.80) (107,345,584.29)
Dividends paid (19,166,749.00) (19,166,749.00)
Tax on dividend (3,109,326.00) 32,119,026.38 (3,183,357.00) (177,658,224.25)
Cash fow from extraordinary items - -
32,119,026.38 (177,658,224.25)
Net cash fow from / (used in) fnancing activities (C) 32,119,026.38 (177,658,224.25)
Net increase / (decrease) in Cash and cash equivalents
(A+B+C)
(824,296.11) (28,072,013.64)
Cash and cash equivalents at the beginning of the year 42,230,423.72 70,291,322.21
Effect of exchange differences on restatement of foreign
currency Cash and cash equivalents
8,037.30 11,115.15
Cash and cash equivalents at the end of the year 41,414,164.91 42,230,423.72
Reconciliation of Cash and cash equivalents with the
Balance Sheet:
Cash and cash equivalents as per Balance Sheet (Refer Note 17) 41,414,164.91 42,230,423.72
Less: Bank balances not considered as Cash and cash equivalents
as defned in AS 3 Cash Flow Statements (give details)
- -
Net Cash and cash equivalents (as defned in AS 3 Cash Flow
Statements) included in Note 19
41,414,164.91 42,230,423.72
Add: Current investments considered as part of Cash and cash
equivalents (as defned in AS 3 Cash Flow Statements) (Refer
Note (ii) to Note 16 Current investments)
- -
Cash and cash equivalents at the end of the year * 41,414,164.91 42,230,423.72
* Comprises:
(a) Cash on hand 76,291.05 88,120.80
(b) Balances with banks
(i) In current accounts 731,514.98 7,611,895.82
(ii) In EEFC accounts 310,044.58 583,515.10
(iii) In earmarked accounts (give details) (Refer Note (ii) below) 40,109,759.00 33,802,504.00
(c) Others - Foreign Currency in hand 186,555.30 144,388.00
41,414,164.91 42230423.72
Notes:
(i) The Cash Flow Statement refects the combined cash fows pertaining to continuing and discounting operations.
(ii) These earmarked account balances with banks can be utilised only for the specifc identifed purposes.
Cash Flow Statement for the year ended 31 March, 2013 (Contd.)
As per our report of even date attached
For Suresh & Associates For and on behalf of the Board of Directors
FRN No. 003316N
Chartered Accountants
(CA Suresh K. Gupta) (Ashok Gupta) (Adit Gupta)
Partner Managing Director Jt. Managing Director
Membership No.080050 DIN - 00031630 DIN - 00238784
(CA Laxmi Kant) (Joylin Jain)
DGM - Finance & Accounts Company Secretary
Place : New Delhi
Date : 28.05.2013
AMD Industries Limited (Consolidated) AMD Industries Limited
36 30th Annual Report 2012-2013
AUDITOR’S REPORT TO THE BOARD OF DIRECTORS OF AMD INDUSTRIES LIMITED ON
THE CONSOLIDATED FINANCIAL STATEMENTS OF AMD INDUSTRIES LIMITED
We have examined the attached Consolidated Balance Sheet of AMD Industries Limited and its subsidiaries as at March 31, 2013 and the consolidated Proft and
Loss account for the period then ended.
These Financial Statements are the responsibility of the AMD Industries Limited Management. Our responsibility is to express an opinion on these Financial
Statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards of India. These Standards require that we plan and
perform the audit to obtain reasonable assurance whether the Financial Statements are prepared, in all material respects, in accordance with an identifed fnancial
reporting framework and are free of material misstatements. An audit includes examining on a test basis, evidence supporting the amounts and disclosures in the
Financial Statements. An audit also includes assessing the accounting principles used and signifcant estimates made by management, as well as evaluating the
overall Financial Statements. We believe that our audit provides a reasonable basis for our opinion.
We did not audit the Financial Statements of subsidiaries, whose Financial Statements refect total assets (net) of Rs.75,44,18,765.65 as at March 31, 2013 and total
proft of 4,15,486.90 for the period then ended. These Financial Statements have been audited by other auditors, whose reports have been furnished to us, and our
opinion, insofar as it relates to the amounts included in respect of the subsidiaries, is based solely on the report of the other auditors.
We Report that the Consolidated Financial Statements have been prepared by the Company in accordance with the requirements of Accounting Standard (AS) 21,
Consolidated Financial Statements, issued by the Institute of Chartered Accountants of India and on the basis of the separate audited Financial Statements of AMD
Industries Limited and its subsidiaries included in the Consolidated Financial Statements.
On the basis of the information and explanation given to us and on the consideration of the separate audit report on individual audited Financial Statements of AMD
Industries Limited and its aforesaid subsidiaries, we are of the opinion that :
1. The Consolidated Balance sheet gives a true and fair view of the Consolidated state of affairs of AMD Industries Limited and its subsidiaries as at March 31,
2013; and
2. The Consolidated Proft and Loss Account gives a true and fair view of the Consolidated results of operations of AMD Industries Limited and its subsidiaries for
the period then ended
For SURESH & ASSOCIATES
FRN : 003316N
Chartered Accountants
(CA SURESH K. GUPTA)
Dated: 28.05.2013 PARTNER
Place: New Delhi M. No. 080050
AMD Industries Limited (Consolidated) AMD Industries Limited
37 30th Annual Report 2012-2013
Particulars Note No. As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
I EQUITY AND LIABILITIES
Shareholders’ funds
(a) Share Capital 3 191,667,490.00 191,667,490.00
(b) Reserves and Surplus 4 814,492,996.08 823,811,919.49
(c) Minority Interest 43,074,833.00 42,875,399.00
1,049,235,319.08 1,058,354,808.49
Non-current liabilities
(a) Long-term borrowings 5 617,653,259.67 449,519,128.51
(b) Deferred tax liabilities (net) 30 78,856,535.00 84,656,732.00
(c) Other long-term liabilities 6 823,400.00 925,475.00
(d) Long-term provisions 7 16,312,922.00 14,575,032.00
713,646,116.67 549,676,367.51
Current liabilities
(a) Short-term borrowings 8 315,960,224.76 353,580,544.39
(b) Trade payables 9 317,708,830.36 230,499,732.88
(c) Other current liabilities 10 327,676,053.50 261,268,383.57
(d) Short-term provisions 11 29,232,834.57 151,427,154.88
990,577,943.19 996,775,815.72
TOTAL 2,753,459,378.94 2,604,806,991.72
II ASSETS
Non-current assets
(a) Fixed assets 12
(i) Tangible assets 868,638,375.30 853,978,983.23
(ii) Intangible assets 891,116.00 1,242,671.00
(iii) Capital work in progress 7,836,529.00 -
877,366,020.30 855,221,654.23
(b) Goodwill on Consolidation 281,267.00 281,267.00
(c) Non-current investments 13 833,498.42 3,985,585.69
(d) Long-term loans and advances 14 149,980,415.92 152,809,447.00
1,028,461,201.64 1,012,297,953.92
Current assets
(a) Inventories 15 1,121,029,621.85 886,152,699.01
(b) Trade receivables 16 309,174,323.76 365,804,877.15
(c) Cash and cash equivalents 17 44,791,267.30 44,319,410.74
(d) Short-term loans and advances 18 240,134,415.27 178,436,577.79
(e) Other current assets 19 9,868,549.12 117,795,473.11
1,724,998,177.30 1,592,509,037.80
TOTAL 2,753,459,378.94 2,604,806,991.72
III Notes forming part of the fnancial statements 1 - 33
Consolidated Balance Sheet as at 31st March, 2013
As per our report of even date attached
For Suresh & Associates For and on behalf of the Board of Directors
FRN No. 003316N
Chartered Accountants
(CA Suresh K. Gupta) (Ashok Gupta) (Adit Gupta)
Partner Managing Director Jt. Managing Director
Membership No.080050 DIN - 00031630 DIN - 00238784
(CA Laxmi Kant) (Joylin Jain)
DGM - Finance & Accounts Company Secretary
Place : New Delhi
Date : 28.05.2013
AMD Industries Limited (Consolidated) AMD Industries Limited
38 30th Annual Report 2012-2013
As per our report of even date attached
For Suresh & Associates For and on behalf of the Board of Directors
FRN No. 003316N
Chartered Accountants
(CA Suresh K. Gupta) (Ashok Gupta) (Adit Gupta)
Partner Managing Director Jt. Managing Director
Membership No.080050 DIN - 00031630 DIN - 00238784
(CA Laxmi Kant) (Joylin Jain)
DGM - Finance & Accounts Company Secretary
Place : New Delhi
Date : 28.05.2013
Statement of Proft and Loss for the year ended 31
st
March, 2013
Particulars Note No. For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
I Revenue from operations (gross) 20 1,852,175,360.93 2,040,350,781.97
Less: Excise duty 282,738,787.00 220,273,280.00
Revenue from operations (net) 1,569,436,573.93 1,820,077,501.97
II Other Income 21 9,100,573.08 4,362,461.33
Total revenue (1+2) 1,578,537,147.01 1,824,439,963.30
III Expenses
(a) Cost of materials consumed 22.a 966,213,608.63 1,020,337,916.99
(b) Purchases of stock-in-trade 22.b 30,923.00 2,045,732.50
(c) Changes in inventories of fnished goods, work-in-progress and stock-in-trade 22.c (62,194,175.00) 57,401,160.00
(d) Employee benefts expense 23 113,213,697.87 114,872,284.40
(e) Finance costs 24 101,032,399.80 107,345,584.29
(f) Depreciation and amortisation expense 12 82,878,233.72 76,343,358.34
(g) Other expenses 25 362,365,196.69 371,310,996.50
Total expenses 1,563,539,884.71 1,749,657,033.02
IV Proft / (Loss) before exceptional items and tax 14,997,262.30 74,782,930.28
V Exceptional items - Proft/(Loss) on Sale/Written Off of Fixed Assets 8,774.29 24,143,537.03
VI Proft / (Loss) before tax 15,006,036.59 98,926,467.31
VII Tax expense:
(a) Current tax expense for current year 11,705,000.00 33,000,000.00
(b) Current tax expense relating to prior years (1,827,745.00) 3,254,127.00
(c) Net current tax expense 9,877,255.00 36,254,127.00
(d) Deferred tax (5,800,197.00) 2,399,960.00
4,077,058.00 38,654,087.00
VIII Proft / (Loss) for the period 10,928,978.59 60,272,380.31
IX Less/(Add) : Minority Interest 199,434.00 (1,062,323.00)
X Proft/ (Loss) for the year 10,729,544.59 61,334,703.31
XI Earning per equity shares: Basic and diluted 29 0.57 3.14
XII Notes forming part of the fnancial statements 1 - 33
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
39 30th Annual Report 2012-2013
Note Particulars
1 Corporate information
The Compnay is engaged in the Manufacturing of Pet Preform,Crown Caps and CSD Closures. The company is also engaged in jobwork operation of preforms.
The company is continuously catering to the packaging needs of Beverages and Beer Industry of the country and abroad.The company has also interest in the
Real Estates.
2 Signifcant accounting policies
2.1 Basis of accounting and preparation of fnancial statements
The fnancial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to
comply with the Accounting Standards notifed under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the
Companies Act, 1956. The fnancial statements have been prepared on accrual basis under the historical cost convention.The accounting policies adopted in
the preparation of the fnancial statements are consistent with those followed in the previous year.
2.2 Use of estimates
The preparation of the fnancial statements in conformity with Indian GAAP requires the Management to make estimates and assumptions considered in the
reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The Management believes
that the estimates used in preparation of the fnancial statements are prudent and reasonable. Future results could differ due to these estimates and the
differences between the actual results and the estimates are recognised in the periods in which the results are known / materialise.
2.3 Inventories
“Inventories
(i) Raw Material
At cost or net realizable value (on FIFO basis) whichever is lower (Rejected raw material at cost Less claim received thereon)
ii) Finished Goods
At cost or net realizable value whichever is lower. For arriving at the cost for this purpose the cost includes material cost and manufacturing expenses.
iii) Semi Finished Goods
At cost of input plus apportioned overhead expenses and depreciation.
iv) Job work in Process
At apportioned manufacturing expenses and depreciation.
v) Stores and Spares
At cost or net realizable value (on FIFO basis) whichever is lower.
vi) Scrap
At estimated realizable value.
vii) Real Estates Inventory
At cost plus cost of improvement.
In order to comply with the mandatory requirements of Accounting Standard -2 ‘Valuation of inventories’ prescribed by the Institute of Chartered
Accountants of India; The Company has adopted the exclusive method of the excise duty”
2.4 Cash and cash equivalents (for purposes of Cash Flow Statement)
Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an original maturity of three months or less
from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignifcant risk of
changes in value.
2.5 Cash fow statement
Cash fows are reported using the indirect method, whereby proft / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-
cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash fows from operating, investing and fnancing activities of the
Company are segregated based on the available information.
2.6 Depreciation and Amortisation
The depreciation on Plant & Machinery including Moulds installed in Neemrana Unit and Ghaziabad Unit has been provided on ’Multiple Shift Basis’. The
depreciation on all assets has been provided on ‘straight-line method’ at the rates prescribed in Schedule XIV of the Companies Act, 1956.
2.7 Revenue recognition
“Revenue in respect of sale of products is recognised on delivery, which coincides with the transfer of risk and rewards of ownership. Discounts given / accrued
to customers at the time of despatch are considered as trade discounts and netted from sales.
Sales made to Nepal and Bhutan has been treated as export sale. However there is no infow of Foreign Exchange on sales to Nepal and Bhutan.
Job work of Preform Completed and lying in Factories as on 31
st
March 2013 has been shown as inventory under the head Job Work in Process.
Interest income is recognized on an accrual basis on time proportionate basis, based on interest rates implicit in the transaction. “
2.8 Other income
Dividend income is recognized on receipt basis.
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
40 30th Annual Report 2012-2013
2.9 Tangible fxed assets
“Fixed assets are carried at cost less accumulated depreciation and impairment losses, if any. The cost of fxed assets includes interest on borrowings
attributable to acquisition of qualifying fxed assets up to the date the asset is ready for its intended use and other incidental expenses incurred up to that
date. Exchange differences arising on restatement / settlement of long-term foreign currency borrowings relating to acquisition of depreciable fxed assets
are adjusted to the cost of the respective assets and depreciated over the remaining useful life of such assets. Machinery spares which can be used only in
connection with an item of fxed asset and whose use is expected to be irregular are capitalised and depreciated over the useful life of the principal item of the
relevant assets. Subsequent expenditure relating to fxed assets is capitalised only if such expenditure results in an increase in the future benefts from such
asset beyond its previously assessed standard of performance.“
CENVAT Credit availed on acquisition of fxed assets is reduced from the cost of concerned assets.
Capital work-in-progress:
Projects under which assets are not ready for their intended use and other capital work-in-progress are carried at cost, comprising direct cost, related incidental
expenses and attributable interest.
2.10 Intangible assets
“Intangible assets are carried at cost less accumulated amortisation and impairment losses, if any. The cost of an intangible asset comprises its purchase price,
including any import duties and other taxes (other than those subsequently recoverable from the taxing authorities), and any directly attributable expenditure
on making the asset ready for its intended use and net of any trade discounts and rebates. Subsequent expenditure on an intangible asset after its purchase /
completion is recognised as an expense when incurred unless it is probable that such expenditure will enable the asset to generate future economic benefts
in excess of its originally assessed standards of performance and such expenditure can be measured and attributed to the asset reliably, in which case such
expenditure is added to the cost of the asset. “
2.11 Foreign currency transactions
(i) Foreign currency transactions during the year are recorded at the rate of exchange prevailing on the date of transaction. Foreign currency monetary
assets and liabilities are translated into Rupees at the rate of exchange prevailing on the date of Balance Sheet.All Exchange difference are dealt with in
the Proft and Loss Account.Foreign Currency monetary items are reported using the closing rate.
(ii) Where the company has entered into forward exchange contracts, the difference between the forward rate and spot rate at the date of the contract is
recognised in the statement of the proft and loss over the life of the contract and difference between the spot rate at the date of contract and the exchange
rate prevailing on the balance sheet date is recognised as per Accounting Standard (AS)-11 issued by the Institute of Chartered Accountants of India. Any
proft or loss arising on cancellation or renewal of the forward exchange contract is recognised as Income or as expenses for the year.
2.12 Government grants, subsidies and export incentives
Export benefts are accounted for in the year of exports based on eligibility and when there is no uncertainty in receiving the same.
2.13 Investments
“Long-term investments , are carried individually at cost less provision for diminution, other than temporary, in the value of such investments. Current investments
are carried individually, at the lower of cost and fair value. Cost of investments include acquisition charges such as brokerage, fees and duties. “
2.14 Employee benefts
(i) Short-term employee benefts are recognised as an expense at the undiscounted amount in the proft and loss account of the year in which the related
service is rendered.
(ii) Defned Beneft Plans:
- Leave Salary of employees on the basis of acturial valuation as per AS 15.
- Gratuity Liability on the basis of acturial valuation as per AS 15.
(iii) Defned Contribution Plans:
Provident fund and ESI on the basis of actual liability accrued and paid to authorities.
2.15 Borrowing costs
Borrowing costs include interest, amortisation of ancillary costs incurred and exchange differences arising from foreign currency borrowings to the extent
they are regarded as an adjustment to the interest cost. Costs in connection with the borrowing of funds to the extent not directly related to the acquisition of
qualifying assets are charged to the Statement of Proft and Loss over the tenure of the loan. Borrowing costs, allocated to and utilised for qualifying assets,
pertaining to the period from commencement of activities relating to construction / development of the qualifying asset upto the date of capitalisation of such
asset is added to the cost of the assets. Capitalisation of borrowing costs is suspended and charged to the Statement of Proft and Loss during extended periods
when active development activity on the qualifying assets is interrupted.
2.16 Segment reporting
The Company identifes primary segments based on the dominant source, nature of risks and returns and the internal organisation and management structure.
The operating segments are the segments for which separate fnancial information is available and for which operating proft/loss amounts are evaluated
regularly by the executive Management in deciding how to allocate resources and in assessing performance.
2.17 Earnings per share
Basic Earnings per share are calculated by dividing the net proft or loss for the period attributable to equity shareholders by the weighted average number of
euity shares outstanding during the period. Diluted Earnings per share are not different from basic earning per share.
2.18 Taxes on income
The Deffered tax expense or beneft is recognised on timing differences being the difference between taxable incomes and accounting incomes that originate
in one period and are capable of reversal in one or more subsequent periods. Deffered tax assets and liabilities are measured using the tax rates and tax laws
that have been enacted or substantively enacted by the balance sheet date.
2.19 Impairment of assets
The carrying values of assets / cash generating units at each Balance Sheet date are reviewed for impairment. If any indication of impairment exists, the
recoverable amount of such assets is estimated and impairment is recognised, if the carrying amount of these assets exceeds their recoverable amount. The
recoverable amount is the greater of the net selling price and their value in use. Value in use is arrived at by discounting the future cash fows to their present
value based on an appropriate discount factor. When there is indication that an impairment loss recognised for an asset in earlier accounting periods no longer
exists or may have decreased, such reversal of impairment loss is recognised in the Statement of Proft and Loss, except in case of revalued assets.
2.20 Provisions and contingencies
A provision is recognised when the Company has a present obligation as a result of past events and it is probable that an outfow of resources will be required
to settle the obligation in respect of which a reliable estimate can be made. Provisions (excluding retirement benefts) are not discounted to their present value
and are determined based on the best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and
adjusted to refect the current best estimates. Contingent liabilities are disclosed in the Notes.
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
41 30th Annual Report 2012-2013
Note 3 Share capital
Particulars As at 31st March, 2013 As at 31st March, 2012
Number of shares Rs. Number of shares Rs.
(a) Authorised
Equity shares of Rs.10/- each with voting rights 25,000,000.00 250,000,000.00 25,000,000.00 250,000,000.00
25,000,000.00 250,000,000.00 25,000,000.00 250,000,000.00
(b) Issued
Equity shares of Rs.10/- each with voting rights 19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
(c) Subscribed and fully paid up
Equity shares of Rs.10/- each with voting rights 19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
Total 19,166,749.00 191,667,490.00 19,166,749.00 191,667,490.00
Note 3 Share capital (contd.)
Particulars
Notes:
Reconciliation of the shares outstanding at the beginning and at the end of the reporting period
(i) Details of shares held by the holding company, the ultimate holding company, their subsidiaries and associates:
Particulars Opening Balance Closing Balance
Equity shares with voting rights
Year ended 31 March, 2013
- Number of shares 19,166,749.00 19,166,749.00
- Amount (Rs.) 191,667,490.00 191,667,490.00
Year ended 31 March, 2012
- Number of shares 19,166,749.00 19,166,749.00
- Amount (Rs.) 191,667,490.00 191,667,490.00
Note 3 Share capital (contd.)
Particulars
(ii) Details of shares held by each shareholder holding more than 5% shares:
Class of shares / Name of shareholder As at 31st March, 2013 As at 31st March, 2012
Number of shares
held
% holding in that
class of shares
Number of shares
held
% holding in that
class of shares
Equity shares with voting rights
Harswarup Gupta 2,575,604.00 13.4379% 2,575,604.00 13.4379%
Ashok Gupta 3,427,796.00 17.8841% 3,427,796.00 17.8841%
Chitra Gupta 1,200,945.00 6.2658% 1,200,945.00 6.2658%
Adit Gupta 3,284,126.00 17.1345% 3,264,126.00 17.0301%
Ashok Sons (HUF) 982,500.00 5.1261% 982,500.00 5.1261%
Note 4 Reserves and surplus
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Securities premium account
Opening balance 650,390,253.28 650,390,253.28
Closing balance 650,390,253.28 650,390,253.28
(b) General reserve
Opening balance 27,326,418.51 27,326,418.51
Closing balance 27,326,418.51 27,326,418.51
(c) Surplus / (Defcit) in Statement of Proft and Loss
Opening balance 146,095,247.70 107,036,619.39
Add: Proft / (Loss) for the year 10,729,544.59 61,334,703.31
“Less: Dividends proposed to be distributed to equity shareholders Re 0.90 Per shares
(Previous year Re 1/- per share)”
17,250,074.00 19,166,749.00
Tax on dividend 2,798,394.00 3,109,326.00
Closing balance 136,776,324.29 146,095,247.70
Total 814,492,996.08 823,811,919.49
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
42 30th Annual Report 2012-2013
Note 5 Long-term borrowings
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Term loans
From banks
Secured 585,627,634.27 403,630,779.72
585,627,634.27 403,630,779.72
From other parties
Secured 28,555,528.40 16,888,348.79
Unsecured 3,470,097.00 29,000,000.00
32,025,625.40 45,888,348.79
Total 617,653,259.67 449,519,128.51
Note :
Details of Repayment Terms and Security against the Term Loans
Particulars Repayment Terms Security Rate of Interest Amount of EMI/
Instalment
Kotak Mahindra Bank Repayble in 60 Monthly EMI Hypothecation of Vehicle acquired out of Loan 13.59% 33,500.00
Standard Chartered
Bank
Repayble in 211 Monthly EMI Mortgage of Immovable Properties of the
Company at DLF,Pinnacle & DLF Courtyard
and the Personal Guarantee of the Directors
12.00% 84,239.00
Standard Chartered
Bank
Repayble in 187 Monthly EMI Mortgage of Immovable Properties of the
Company at DLF,Pinnacle & DLF Courtyard
and the Personal Guarantee of the Directors
12.50% 293,474.00
Standard Chartered
Bank
Repayble in 120 Monthly EMI Mortgage of Immovable Properties of the
Company at DLF,Pinnacle & DLF Courtyard
and the Personal Guarantee of the Directors
BR+2.75% 410,124.00
Union Bank of India Repayble in 60 Monthly
Installments and Interest
Payable Monthly
First Pari Passu charge over fxed assets of
the company except vehicles & immovable
properties of the company specifcally
mortgage to other lenders.The same is
also secured by 2
nd
Pari Passu charge over
the current assets of the company and the
personal guarantee of the directors and
corporate guarantee & mortgage of Land
and Building of another Company.
BR+4.25% 5,275,000.00
Kotak Mahindra Bank Repayble in 68 Monthly EMI Mortgage of Immovable Properties of the
Company at Digital Green, Gurgaon and the
Personal Guarantee of the Directors
RR-4.30% 665,535.00
Kotak Mahindra Bank Repayble in 120 Monthly EMI Mortgage of Personal Property of wife of
Director and the Personal Guarantee of the
Directors
RR+2.50% 617,359.00
Kotak Mahindra Bank Repayble in 72 Monthly EMI Mortgage of Personal Property of wife of
Director & Director’s HUF and the Personal
Guarantee of the Directors
BR+4.75% 3,131,164.00
Indiabulls Housing
Finance Ltd.
Repayble in 84 Monthly EMI Mortgage of Immovable Properties of the
Company at Mohali and the Personal
Guarantee of the Directors
IHFL-6.05% 441,308.00
Tata Capital Financial
Services Limited
Repayble in 36 Monthly EMI Hypothecation of Vehicle acquired out of
Loan
LTLR-4.60% 25,320.00
Tata Capital Financial
Services Limited
Repayble in 48 Monthly
Installments and Interest
Payable Monthly
Hypothecation of Equipments and First Pari
Passu charge over Immovable peroperty
of the Company situated at Haridwar and
Personal Guarantee of the Directors
LTLR-4.60% 375,000.00
State Bank of India Repayble in 12 Monthly
Installments of Rs.17 Lac,12
Monthly Installments of
Rs..33 Lac and 6 Monthly
Installmnets of Rs..67 Lac
during the F.Y. 2013-14,2014-
15 and 2015-16 respectively
and Interest Payable Monthly
First Pari Passu charge over fxed assets of
the company except vehicles & immovable
properties of the company situated at
Ghaziabad,Haridwar and others immovable
properties specifcally mortgage to other
lenders.The same is also secured by the
personal guarantee of the directors.
BR+3.75% -
ICICI Bank Repayble in 120 Monthly EMI Mortgage of Personal Property of Directors
and the Personal Guarantee of the Directors
BR+2.50% 935,604.00
Kotak Mahindra Bank Repayble in 72 Monthly EMI Mortgage of Personal Property of wife of
Director & Director’s HUF and the Personal
Guarantee of the Directors and Corporate
Guarantee of Holding Co.
BR+4.75% 3,675,885.00
Kotak Mahindra Bank Repayble in 96 Monthly EMI Mortgage of Personal Property of wife of
Director & Director’s HUF and the Personal
Guarantee of the Directors and Corporate
Guarantee of Holding Co.
BR+4.75% 887,007.00
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
43 30th Annual Report 2012-2013
Note 6 Other long-term liabilities
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Trade Payables:
(i) Other than Acceptances 313,400.00 415,475.00
(b) Others:
(i) Trade / security deposits received 510,000.00 510,000.00
Total 823,400.00 925,475.00
Note 7 Long-term provisions
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Provision for employee benefts:
(i) Provision for gratuity (net) (Refer Note 26) 6,557,135.00 5,655,170.00
(ii) Provision for other employee benefts (Leave Encashment) (Refer Note 26) 3,755,787.00 2,919,862.00
10,312,922.00 8,575,032.00
(b) Provision - Others:
(i) Provision for other contingencies (Refer Note 31) 6,000,000.00 6,000,000.00
6,000,000.00 6,000,000.00
Total 16,312,922.00 14,575,032.00
Note 8 Short-term borrowings
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Loans repayable on demand
From banks
Secured 249,820,308.08 288,739,858.39
Unsecured 1,655,149.00 38,854,784.00
251,475,457.08 327,594,642.39
(b) Loans and advances from related parties
Unsecured 64,484,767.68 25,985,902.00
64,484,767.68 25,985,902.00
Total 315,960,224.76 353,580,544.39
Notes:
Details of Security and terms against the Short Term Borrowings from Banks
Particulars Security Rate of Interest
State Bank of India First Pari Passu charge over Current assets of the company and 2
nd
parri passu charge over the
fxed assets of the company except vehicles & immovable properties of the company specifcally
mortage to other lenders.The same is also secured by way of mortagage of personal property of the
Director and the Personal Guarantee of the Directors.
BR+3.75%
Kotak Mahindra Bank First Pari Passu charge over Current assets of the company and 2
nd
parri passu charge over the
fxed assets of the company except vehicles & immovable properties of the company specifcally
mortage to other lenders.The same is also secured by way of mortagage of personal property of the
Director and the Personal Guarantee of the Directors.
BR+3.25%
Punjab National Bank First Pari Passu charge over Current assets of the company and 2
nd
parri passu charge over the
fxed assets of the company except vehicles & immovable properties of the company specifcally
mortage to other lenders.The same is also secured by way of mortagage of personal property of the
Director and the Personal Guarantee of the Directors.
BR+3.25%
Central Bank of India Mortagage of personal property of the Director and the Personal Guarantee of the Directors. BR+3.50%
Details of terms and conditions Short Term Borrowings received from Related parties
Name of Party Terms of Repayment Rate of Interest
H.S.Gupta Payable on demand 12%
Ashok Gupta Payable on demand 12%
Adit Gupta Payable on demand 12%
Ashoka Productions &
Communications (P) Ltd.
Payable on demand 12%
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
44 30th Annual Report 2012-2013
Note 9 Trade payables
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Trade payables:
Other than Acceptances 317,708,830.36 230,499,732.88
Total 317,708,830.36 230,499,732.88
Note 10 Other current liabilities
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Current maturities of long-term debt (Refer Note (i) below) 159,474,189.25 166,635,415.39
(b) Interest Accrued on borrowings 342,815.00 3,840,736.00
(c) Other payables
(i) Statutory remittances (Contributions to PF and ESIC, Withholding Taxes, Excise Duty, VAT,
Service Tax, etc.)
4,313,098.88 6,019,036.73
(ii) Interest payable 274,802.84 -
(iii) Trade and Security Deposits 66,400,000.00 41,100,000.00
(iv) Advances from customers 57,246,825.30 4,660,012.35
(v) Others (Expenses Payable and Advances) 39,624,322.23 39,013,183.10
Total 327,676,053.50 261,268,383.57
Note (i): Current maturities of long-term debt (Refer Notes in Note 5 - Long-term borrowings for details of security and guarantee):
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Term loans
From banks
Secured 152,075,636.02 163,307,219.00
152,075,636.02 163,307,219.00
From other parties
Secured 7,398,553.23 3,328,196.39
7,398,553.23 3,328,196.39
Total 159,474,189.25 166,635,415.39
Note 11 Short-term provisions
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Provision for employee benefts:
(i) Provision for bonus 2,853,610.00 2,815,448.00
2,853,610.00 2,815,448.00
(b) Provision - Others:
“(i) Provision for tax (net of advance tax Rs.98,48,247.30
(As at 31 March, 2012 Rs.2,40,55,788.00))”
1,856,752.70 8,944,212.00
(ii) Provision for proposed equity dividend 17,250,074.00 19,166,749.00
(iii) Provision for tax on proposed dividends 2,798,394.00 3,109,326.00
(iv) Other Current Liabilities :-
(a) Forward Contract Payable 4,110,434.36 113,751,827.70
(b) Deferred Forward Premium 301,569.51 3,564,592.18
(c) Wealth Tax Payable 62,000.00 75,000.00
26,379,224.57 148,611,706.88
Total 29,232,834.57 151,427,154.88
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
45 30th Annual Report 2012-2013
Note 12 :Fixed Assets
GROSS BLOCK ACCUMULATED DEPRECIATION NET BLOCK
Balance
as at
1 April, 2012
Additions Disposals Balance
as at
31st March,
2013
Balance
as at
1 April, 2012
Depreciation
Charge for
the year
On
Diposals
Balance
as at
31st March,
2013
Balance
as at
31st March,
2013
Balance
as at
31st March,
2012
Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs.
(i) Tangible Assets
(a) Land 161,200,632.47 - - 161,200,632.47 - - - - 161,200,632.47 161,200,632.47
(b) Buildings 99,209,252.00 2,882,397.01 - 102,091,649.01 15,577,159.30 3,297,278.00 - 18,874,437.30 83,217,211.71 83,632,092.70
(c) Plant and
Equipments
964,618,285.79 93,554,632.50 22,000.00 1,058,150,918.29 384,176,665.40 75,558,829.00 6,482.00 459,729,012.40 598,421,905.89 580,441,620.39
(d) Furniture and
Fixtures
20,261,588.59 539,830.00 - 20,801,418.59 7,049,861.33 1,257,971.00 - 8,307,832.33 12,493,586.26 13,211,727.26
(e) Vehicles 24,569,114.15 0.00 760,468.00 23,808,646.15 12,586,183.91 2,101,845.72 718,260.29 13,969,769.34 9,838,876.81 11,982,930.25
(f) Offce equipment 11,899,376.49 252,972.00 - 12,152,348.49 8,389,396.33 296,790.00 - 8,686,186.33 3,466,162.16 3,509,980.16
Total 1,281,758,249.49 97,229,831.51 782,468.00 1,378,205,613.00 427,779,266.27 82,512,713.72 724,742.29 509,567,237.70 868,638,375.30 853,978,983.23
Previous Year 1,273,683,554.59 17,896,279.00 9,821,584.10 1,281,758,249.49 355,497,225.06 76,075,782.34 3,793,741.13 427,779,266.27 853,978,983.22 918,186,329.53
(ii) Intangible Assets
(a) Computer
software
2,254,905.00 13,965.00 - 2,268,870.00 1,012,234.00 365,520.00 - 1,377,754.00 891,116.00 1,242,671.00
Total 2,254,905.00 13,965.00 - 2,268,870.00 1,012,234.00 365,520.00 - 1,377,754.00 891,116.00 1,242,671.00
Previous Year 1,465,100.00 789,805.00 - 2,254,905.00 744,658.00 267,576.00 - 1,012,234.00 1,242,671.00 720,442.00
(iii) Capital Work in
Progress
- 7,836,529.00 - 7,836,529.00 - - - - 7,836,529.00 -
Total - 7,836,529.00 - 7,836,529.00 - - - - 7,836,529.00 -
Previous Year - - - - - - - - - -
Grand Total 1,284,013,154.49 105,080,325.51 782,468.00 1,388,311,012.00 428,791,500.27 82,878,233.72 724,742.29 510,944,991.70 877,366,020.30 855,221,654.22
Previous Year 1,275,148,654.59 18,686,084.00 9,821,584.10 1,284,013,154.49 356,241,883.06 76,343,358.34 3,793,741.13 428,791,500.27 855,221,654.22 918,906,771.53
Note : Capital work in progress reperesnt the amount paid for electrical appliances,equipments, furniture & fxture etc. during the construction period of the premises taken on rent.However
no rent has been paid during the current fnancial year.-
Note 13 Non-current investments
Particulars As at 31st March, 2013 As at 31st March, 2012
Quoted
Rs.
Unquoted
Rs.
Total
Rs.
Quoted
Rs.
Unquoted
Rs.
Total
Rs.
Investments (At cost):
A. Trade
(a) Investment in equity instruments
(i) of subsidiaries - - - - - -
52,00,000 (As at 31 March, 2012:
52,00,000) Equity Shares of Rs.10
each fully paid up in AMD Estates &
Developers (P) Limited
- - - - - -
Total - Trade (A) - - - - -
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
46 30th Annual Report 2012-2013
Note 13 Non-current investments (contd.)
Particulars As at 31st March, 2013 As at 31st March, 2012
Quoted
Rs.
Unquoted
Rs.
Total
Rs.
Quoted
Rs.
Unquoted
Rs.
Total
Rs.
B. Other investments
(a) Investment in equity instruments
(i) of other STL Global Limited (50000
Equity Shares fully paid up)
138,500.00 - 138,500.00 3,321,885.69 - 3,321,885.69
138,500.00 - 138,500.00 3,321,885.69 - 3,321,885.69
(b) Investment in mutual funds
(i) SBI One India Fund - Dividend
(10000 Units at Rs.10 Each)
100,000.00 100,000.00 100,000.00 100,000.00
(ii) SBI Infrastructure Fund - I - Growth
(10000 Units at Rs.10 Each)
100,000.00 100,000.00 100,000.00 100,000.00
(iii) Union KBC Equity Fund Growth
(50000 Units at Rs.10 Each)
500,000.00 500,000.00 500,000.00 500,000.00
700,000.00 700,000.00 700,000.00 700,000.00
Total - Other investments (B) 838,500.00 838,500.00 4,021,885.69 4,021,885.69
Total (A+B) 838,500.00 - 838,500.00 4,021,885.69 - 4,021,885.69
Less: Provision for diminution in value of
investments 5,001.58 36,300.00
Total 833,498.42 3,985,585.69
Aggregate amount of quoted investments 838,500.00 4,021,885.69
Aggregate amount of unquoted investments - -
Note 14 Long-term loans and advances
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Capital advances
Unsecured, considered good 117,933,103.92 131,434,437.00
117,933,103.92 131,434,437.00
(b) Security deposits
Unsecured, considered good 21,351,211.00 16,693,811.00
21,351,211.00 16,693,811.00
(c) Other Loans and Advances
(i) Prepaid expenses - Unsecured, considered good 57,700.00 104,000.00
57,700.00 104,000.00
(ii) Advances to suppliers
Unsecured, considered good 1,460,527.00 440,237.00
1,460,527.00 440,237.00
(iii) Advances recoverable in cash or kind
Unsecured, considered good 9,177,874.00 4,136,962.00
9,177,874.00 4,136,962.00
Total 149,980,415.92 152,809,447.00
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
47 30th Annual Report 2012-2013
Note 15 Inventories
(At lower of cost and net realisable value)
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Raw materials 331,595,578.00 215,381,180.01
Goods-in-transit 42,889,196.00 24,724,168.00
374,484,774.00 240,105,348.01
(b) Work-in-progress (Refer Note below) 38,923,900.00 17,974,600.00
38,923,900.00 17,974,600.00
(c) Finished goods (other than those acquired for trading) 71,726,900.00 33,677,400.00
71,726,900.00 33,677,400.00
(d) Stock-in-trade (acquired for trading) - 2,300.00
- 2,300.00
(e) Stores and spares 28,013,386.00 23,064,006.00
28,013,386.00 23,064,006.00
(f) Others - Packing Materials 11,044,484.00 4,334,531.00
11,044,484.00 4,334,531.00
(g) Others - Waste & Scrap 9,385,364.00 6,187,689.00
9,385,364.00 6,187,689.00
(g) Others - Real Estates :
(i) DLF Pinnacle 17,399,615.12 17,399,615.12
(ii) DLF Courtyard 26,781,786.81 26,781,786.81
(iii) Project at Gurgaon 369,824,707.15 349,880,786.83
(iv) Project at Rewari 173,444,704.77 166,744,636.24
587,450,813.85 560,806,825.00
Total 1,121,029,621.85 886,152,699.01
Note: Details of inventory of work-in-progress
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Pet Preform
CSD Closures 3,645,200.00 4,302,600.00
Crown Caps 13,560,400.00 3,500,200.00
Job Work (Pet Preform) 21,718,300.00 10,171,800.00
38,923,900.00 17,974,600.00
Note 16 Trade receivables
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Trade receivables outstanding for a period exceeding six months
Unsecured, considered good 16,105,011.29 17,298,634.03
Doubtful 1,596,709.00 1,592,552.00
17,701,720.29 18,891,186.03
Less : Provision for Doubtful trade receivables 320,000.00 -
17,381,720.29 18,891,186.03
Other Trade receivables
Unsecured, considered good 291,792,603.47 346,913,691.12
291,792,603.47 346,913,691.12
Total 309,174,323.76 365,804,877.15
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
48 30th Annual Report 2012-2013
Note 17 Cash and cash equivalents
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Cash on hand 178,729.00 113,137.25
(b) Balances with banks
(i) In current accounts 4,006,179.42 9,675,866.39
(ii) In EEFC accounts 310,044.58 583,515.10
(iii) Balances held as margin money or security
against borrowings, guarantees and other commitments
40,109,759.00 33,802,504.00
(c) Others - Foreign Currency in Hand 186,555.30 144,388.00
Total 44,791,267.30 44,319,410.74
Note 18 Short-term loans and advances
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Loans and advances to employees
Unsecured, considered good 667,568.00 641,533.00
667,568.00 641,533.00
(b) Prepaid expenses - Unsecured, considered good 4,919,877.00 2,193,437.40
4,919,877.00 2,193,437.40
(c) Balances with government authorities
Unsecured, considered good
(i) CENVAT credit receivable 119,150,277.78 82,110,308.44
(ii) VAT credit receivable 9,950,773.00 2,808,364.00
(iii) Service Tax credit receivable 14,195,217.95 24,486,255.38
(iv) Others 205,111.00 76,111.00
143,501,379.73 109,481,038.82
(d) Others (Advances to Suppliers))
Unsecured, considered good 91,045,590.54 66,120,568.57
91,045,590.54 66,120,568.57
Total 240,134,415.27 178,436,577.79
Note 19 Other current assets
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
(a) Accruals
(i) Interest accrued on deposits 1,251,390.72 1,422,543.90
(b) Others
(i) Others - (i) Forward Contract Receivables 5,060,172.56 111,277,384.15
(ii) Exports Incentive Receivables 3,556,985.84 5,095,545.06
Total 9,868,549.12 117,795,473.11
Note 20 Revenue from operations
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(a) Sale of products (Refer Note (i) below) 1,500,529,172.93 1,746,847,489.25
(b) Sale of services (Refer Note (ii) below) 319,624,603.00 237,740,383.51
(c) Other operating revenues (Refer Note (iii) below) 32,021,585.00 55,762,909.21
1,852,175,360.93 2,040,350,781.97
Less:
(d) Excise duty 282,738,787.00 220,273,280.00
Total 1,569,436,573.93 1,820,077,501.97
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
49 30th Annual Report 2012-2013
Note Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(i) Sale of products comprises:
Manufactured goods
Crown Caps 559,156,884.73 796,862,252.00
CSD Closures 445,391,260.72 403,100,890.21
Pet - Preforms 495,865,212.48 546,576,913.04
Others
Total - Sale of manufactured goods 1,500,413,357.93 1,746,540,055.25
Traded goods
Others 115,815.00 307,434.00
Total - Sale of traded goods 115,815.00 307,434.00
Total - Sale of products 1,500,529,172.93 1,746,847,489.25
(ii) Sale of services comprises :
Jobwork - Pet Preform 319,624,603.00 237,740,383.51
Total - Sale of services 319,624,603.00 237,740,383.51
(iii) Other operating revenues comprise:
Sale of scrap 19,994,351.00 28,645,223.57
Duty drawback and other export incentives 5,401,168.00 18,921,121.00
Others - Discount on Purchase 6,626,066.00 8,196,564.64
Total - Other operating revenues 32,021,585.00 55,762,909.21
Note 21 Other income
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(a) Interest income (Refer Note (i) below) 5,914,607.64 2,346,855.41
(b) Dividend income:
others 14,450.98 18,900.00
(c) Other non-operating income (Refer Note (ii) below) 3,171,514.46 1,996,705.92
Total 9,100,573.08 4,362,461.33
Note Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(i) Interest income comprises:
Interest from banks on:
deposits 2,315,695.82 2,769,140.11
Interest on loans and advances 333,017.00 960,736.30
Interest on overdue trade receivables 3,265,894.82 (1,384,981.00)
Interest on Income Tax Refund - 1,960.00
Total - Interest income 5,914,607.64 2,346,855.41
(ii) Other non-operating income comprises:
Rental Income 2,040,000.00 1,680,806.00
Miscellaneous income 1,131,514.46 315,899.92
Total - Other non-operating income 3,171,514.46 1,996,705.92
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
50 30th Annual Report 2012-2013
Note 22.b Purchase of traded goods
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Traded good - Real Estates - DLF Pinnacle - 247,826.00
Traded good - Real Estates - DLF Courtyard - 1,706,714.00
Others 30,923.00 91,192.50
Total 30,923.00 2,045,732.50
Note 22.c Changes in inventories of fnished goods, work-in-progress and stock-in-trade
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Inventories at the end of the year:
Finished goods 71,726,900.00 33,677,400.00
Work-in-progress 38,923,900.00 17,974,600.00
Stock-in-trade - Real Estates 44,181,401.93 44,181,401.93
Stock-in-trade -Waste & Scrap 9,385,364.00 6,187,689.00
Stock-in-trade - Trading Goods - 2,300.00
164,217,565.93 102,023,390.93
Inventories at the beginning of the year:
Finished goods 33,677,400.00 89,198,690.00
Work-in-progress 17,974,600.00 22,414,100.00
Stock-in-Trade - Real Estates 44,181,401.93 42,226,861.93
Stock-in-trade -Waste & Scrap 6,187,689.00 5,582,599.00
Stock-in-trade - Trading Goods 2,300.00 2,300.00
102,023,390.93 159,424,550.93
Net (increase) / decrease (62,194,175.00) 57,401,160.00
Note 23 Employee benefts expense
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Salaries and wages 108,868,880.87 110,903,755.00
Contributions to provident and other funds 2,586,739.00 2,462,980.40
Staff welfare expenses 1,758,078.00 1,505,549.00
Total 113,213,697.87 114,872,284.40
Note 22.a Cost of materials consumed
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Opening stock 240,105,348.01 309,186,960.00
Add: Purchases 1,100,593,034.62 951,256,305.00
1,340,698,382.63 1,260,443,265.00
Less: Closing stock 374,484,774.00 240,105,348.01
Cost of material consumed 966,213,608.63 1,020,337,916.99
Material consumed comprises:
Tin Free Sheets 246,396,118.09 354,248,609.00
Polypropylene 223,366,058.57 168,509,861.00
Resin 350,780,901.18 341,512,408.00
Other items (includes Lining Compund, Lacquer, PVC etc.) 145,670,530.79 156,067,038.99
Total 966,213,608.63 1,020,337,916.99
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
51 30th Annual Report 2012-2013
Note 24 Finance costs
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(a) Interest expense on:
(i) Borrowings 88,727,138.46 93,306,835.60
(ii) Trade payables 7,613,629.34 7,916,169.21
(b) Other borrowing costs - Processing Fees 4,691,632.00 2,299,852.73
(c) Net (gain) / loss on foreign currency transactions - 3,822,726.75
Total 101,032,399.80 107,345,584.29
Note 25 Other expenses
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
Business promotion 730,224.70 755,084.41
Communication 3,086,750.20 2,792,601.57
Consumption of stores and spare parts 6,302,123.85 6,680,405.20
Consumption of packing materials 52,713,779.54 50,071,993.82
Commission Paid 41,012,391.00 49,723,901.35
Donations and contributions 789,610.00 103,100.00
Freight and forwarding 37,017,944.25 46,369,461.66
Legal and professional 10,464,715.03 7,100,232.89
Net loss on foreign currency transactions(other than considered as fnance cost) (8,377,000.03) 25,070,748.89
Auditors Remuneration (Refer Note 25 (i) below) 793,436.00 774,972.00
Printing and stationery 1,191,489.70 1,387,719.00
Power and fuel 123,406,200.00 98,134,168.00
Insurance 5,647,052.20 3,860,735.14
Rates and taxes 1,573,295.00 1,097,919.00
Rent 27,958,641.50 19,889,408.81
Repairs and maintenance - Buildings 3,438,130.00 3,842,222.50
Repairs and maintenance - Machinery 9,828,194.94 13,866,022.75
Repairs and maintenance - Others 2,919,261.94 4,130,569.43
Sales discount 4,676,520.65 9,238,892.72
Travelling and conveyance 14,674,615.53 13,510,017.86
Water 100,039.00 120,385.00
“Permanent dimunition in the carrying amount of long term investments
(other than subsidiaries)”
3,152,087.27 38,300.00
Provision for doubtful trade receivables 320,000.00 -
Miscellaneous expenses 18,945,694.42 12,752,134.50
Total 362,365,196.69 371,310,996.50
Notes: 25 (i) Auditors Remuneration includes:
Particulars For the year ended
31st March, 2013
Rs.
For the year ended
31st March, 2012
Rs.
(i) Payments to the auditors comprises (net of service tax input credit, where applicable):
As auditors - statutory audit 520,000.00 520,000.00
For taxation audit fees 130,000.00 130,000.00
For taxation matters 35,000.00 62,000.00
For other services 82,200.00 40,500.00
Total 767,200.00 752,500.00
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
52 30th Annual Report 2012-2013
Note 26 Disclosures under Accounting Standards (contd.)
Employee beneft plans
Defned beneft plans
The Company offers the following employee beneft schemes to its employees:
i. Gratuity
ii. Other defned beneft plans (Leave Encashment)
The following table schemes and the amount recognised in the fnancial statements:
Rs.
Particulars For the year ended
31st March, 2013
For the year ended
31st March, 2012
Gratuity Other defned
beneft
plans (Leave
Encashment)
Gratuity Other defned
beneft
plans (Leave
Encahsment)
Components of employer expense
Current service cost 1,197,064.00 932,996.00 1,038,230.00 874,831.00
Interest cost 486,345.00 251,108.00 372,317.00 178,060.00
Curtailment cost / (credit) - (224,362.00) - -
Past service cost - 500,772.00 - -
Actuarial losses/(gains) 639,579.00 426,442.00 201,270.00 170,731.00
Total expense recognised in the Statement of Proft and Loss 2,322,988.00 1,886,956.00 1,611,817.00 1,223,622.00
Actual contribution and beneft payments for year
Actual beneft payments (1,421,023.00) (1,051,031.00) (610,615.00) (529,507.00)
Actual contributions
Net asset / (liability) recognised in the Balance Sheet
Present value of defned beneft obligation 5,655,170.00 2,919,862.00 4,653,968.00 2,225,747.00
Funded status [Surplus / (Defcit)] 901,965.00 835,925.00 1,001,202.00 694,115.00
Net asset / (liability) recognised in the Balance Sheet 6,557,135.00 3,755,787.00 5,655,170.00 2,919,862.00
Note 26 Disclosures under Accounting Standards (contd.)
Rs.
Particulars For the year ended
31st March, 2013
For the year ended
31st March, 2012
Gratuity Other defned
beneft
plans (Leave
Encashment)
Gratuity Other defned
beneft
plans (Leave
Encahsment)
Change in defned beneft obligations (DBO) during the year
Present value of DBO at beginning of the year 5,655,170.00 2,919,862.00 4,653,968.00 2,225,747.00
Current service cost 1,197,064.00 932,996.00 1,038,230.00 874,831.00
Interest cost 486,345.00 251,108.00 372,317.00 178,060.00
Curtailment cost / (credit) - (224,362.00) -
Actuarial (gains) / losses 639,579.00 426,442.00 201,270.00 170,731.00
Past service cost - 500,772.00 - -
Benefts paid (1,421,023.00) (1,051,031.00) (610,615.00) (529,507.00)
Present value of DBO at the end of the year 6,557,135.00 3,755,787.00 5,655,170.00 2,919,862.00
Actuarial assumptions
Discount rate 8.00% 8.00% 8.60% 8.60%
Salary escalation 7.50% 7.50% 7.50% 7.50%
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
53 30th Annual Report 2012-2013
Note 27 Disclosures under Accounting Standards (contd.)
Particulars
Segment information
The Company has identifed business segments as its primary segment and geographic segments as its secondary segment. Business segments are primarily
Packaging,Textile and Real Estate. Revenues and expenses directly attributable to segments are reported under each reportable segment. Expenses which are not directly
identifable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. Assets and liabilities that are directly
attributable or allocable to segments are disclosed under each reportable segment. Fixed assets that are used interchangeably amongst segments are not allocated to
primary and secondary segments. Geographical revenues are allocated based on the location of the customer. Geographic segments of the Company are India and Others.
Particulars For the year ended
31st March, 2013
Business segments Total
PACKAGING TEXTILE REAL ESTATE Eliminations
Rs. Rs. Rs. Rs. Rs.
Revenue 1,569,436,573.93 - - - 1,569,436,573.93
(1,820,077,501.97) (-) (-) (-) (1,820,077,501.97)
Inter-segment revenue - - - - -
(-) (-) (-) (-) (-)
Total 1,569,436,573.93 - - - 1,569,436,573.93
(1,820,077,501.97) (-) (-) (-) (1,820,077,501.97)
Segment result 12,986,898.76 -2316310.30 -8,275,062.05 - 5,905,463.51
(101,249,718.79) (-) (-4467523.81) (-) (94,564,005.98)
Unallocable expenses (net) -
(-)
Operating income 5,905,463.51
(94,564,005.98)
Other income (net) 9,100,573.08
(4,362,461.33)
Proft before taxes 15,006,036.59
(98,926,467.31)
Tax expense 4,077,058.00
(38,654,087.00)
Net proft for the year 10,928,978.59
(60,272,380.31)
Minority Interest 199,434.00
(-1062323.00)
Net Proft for the year excluding Minority Interest 10,729,544.59
(-61334703.31)
Note 27 Disclosures under Accounting Standards (contd.)
Note
Particulars “For the year ended
31st March, 2013”
Business segments Total
PACKAGING TEXTILE REAL ESTATE
Rs. Rs. Rs. Rs.
Segment assets 1,946,009,335.89 151,750,097.47 655,699,945.58 2,753,459,378.94
(1,806,224,406.20) (173,913,200.47) (624,669,385.05) (2,604,806,991.72)
Unallocable assets - - - -
(-) (-) (-) (-)
Total assets 1,946,009,335.89 151,750,097.47 655,699,945.58 2,753,459,378.94
(1,806,224,406.20) (173,913,200.47) (624,669,385.05) (2,604,806,991.72)
Segment liabilities 2,398,636,078.88 - 354,823,300.06 2,753,459,378.94
(2,276,471,123.89) (-) (328,335,867.83) (2,604,806,991.72)
Unallocable liabilities - - - -
(-) (-) (-) (-)
Total liabilities 2,398,636,078.88 - 354,823,300.06 2,753,459,378.94
(2,276,471,123.89) (-) (328,335,867.83) (2,604,806,991.72)
Other information
Capital expenditure (allocable) 105,080,325.51 - - 105,080,325.51
(18,686,084.00) (-) (-) (18,686,084.00)
Depreciation and amortisation (allocable) 82,878,233.72 - - 82,878,233.72
(76,343,358.34) (-) (-) (76,343,358.34)
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
54 30th Annual Report 2012-2013
Note 27 Disclosures under Accounting Standards (contd.)
Particulars
The geographic segments individually contributing 10 percent or more of the Company’s revenues and segment assets are shown separately:
Geographic Segment Revenues
For the year ended
31 March, 2013
Segment assets
As at
31 March, 2013
Capital expenditure
incurred during the
year ended 31 March,
2013
Rs. Rs. Rs.
India 1,441,009,883.41 2,753,459,378.94 -
(1,470,637,593.76) (2,604,806,991.72) (-)
Others 128,426,690.52 - -
(349,439,908.21) (-) (-)
Note: Figures in bracket relates to the previous year
Note 28 Related Party disclosure
As required by Accounting Standard - 18, “Related Party Disclosures”issued by the Institute of Chartered Accountants of India, relevant information is provided
here below:
28.1 Related parties with whom transactions have taken place during the year:
Name Relationship
Sh. H S Gupta Key Managerial Personnnel
Sh. Ashok Gupta Key Managerial Personnnel
Sh. Adit Gupta Key Managerial Personnnel
Mrs. Chitra Gupta Key Managerial Personnnel’s relative
Ms. Vidhi Gupta Key Managerial Personnnel’s relative
Ms. Mamta Gupta Key Managerial Personnnel’s relative
Mrs. Geetika Gupta Key Managerial Personnnel’s relative
Ashok Sons HUF Key Managerial Personnnel’s relative
Ashoka Productions and Communications (P) Limited Company in which KMP / Relatives of KMP can exercise signifcant infuence
Kadam Trees Properties (P) Limited Company in which KMP / Relatives of KMP can exercise signifcant infuence
AMD Estates & Developers Private Limited Subsidiary Company
28.2 Followings are the details of the transactions with the related party:
Nature of transaction Related Parties Amount in Rs.
Salaries, Allowance & Perquisites Key Managerial Personnnel 21,682,363.00
(30,129,744.00)
Salaries, Allowance & Perquisites Key Managerial Personnnel’s relative 2,303,400.00
(2,319,900.00)
Rent Paid Company in which KMP / Relatives of KMP can exercise signifcant infuence 3,960,000.00
(1,380,000.00)
Rent Paid Key Managerial Personnnel 9,729,000.00
(9,729,000.00)
Rent Paid Key Managerial Personnnel’s relative 1,380,000.00
(1,380,000.00)
Interest paid Company in which KMP / Relatives of KMP can exercise signifcant infuence 2,015,384.68
(4,773,121.00)
Interest paid Key Managerial Personnnel 2,756,996.00
(1,839,798.00)
Interest paid Key Managerial Personnnel’s relative 1,297,343.00
(3,274,608.00)
Repayment of Unsecured Loans Key Managerial Personnnel 4,971,977.00
(21,059,848.00)
Repayment of Unsecured Loans Company in which KMP / Relatives of KMP can exercise signifcant infuence 701,538.00
(34,477,312.00)
Repayment of Unsecured Loans Key Managerial Personnnel’s relative 30,000,000.00
(6,000,000.00)
Unsecured Loans Received Key Managerial Personnnel 42,156,996.00
(19,589,798.00)
Unsecured Loans Received Company in which KMP / Relatives of KMP can exercise signifcant infuence 2,015,384.68
(6,773,121.00)
Unsecured Loans Received Key Managerial Personnnel’s relative 2,400,000.00
(35,000,000.00)
Refund of Security provided against rent
of guest house
Company in which KMP / Relatives of KMP can exercise signifcant infuence -
(11,450,000.00)
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
55 30th Annual Report 2012-2013
28.3 Disclosure of Material Transactions:
Particulars Current Year Previous Year
Salaries, Allowance & Perquisite
Sh. H S Gupta ( Chairman) 7,317,954.00 10,045,156.00
Sh. Ashok Gupta ( Managing Director) 7,515,575.00 10,044,988.00
Sh. Adit Gupta ( Joint Managing Director) 6,848,834.00 10,039,600.00
Salaries, Allowance & Perquisite
Ms. Vidhi Gupta 1,151,700.00 1,151,700.00
Ms. Mamta Gupta 1,151,700.00 1,168,200.00
Rent Paid
Kadam Trees Properties (P) Limited 3,960,000.00 1,380,000.00
Sh. Ashok Gupta ( Managing Director) 1,035,000.00 1,035,000.00
Sh. Adit Gupta ( Joint Managing Director) 8,694,000.00 8,694,000.00
Mrs. Chitra Gupta 1,380,000.00 1,380,000.00
Interest Paid
Ashoka Productions and Communications (P) Limited 2,015,384.68 4,773,121.00
Sh. H S Gupta ( Chairman) 1,204,129.00 685,532.00
Sh. Ashok Gupta ( Managing Director) 966,309.00 762,984.00
Sh. Adit Gupta ( Joint Managing Director) 586,558.00 391,282.00
Mrs. Chitra Gupta 916,438.00 1,967,377.00
Mrs. Geetika Gupta 274,384.00 1,307,231.00
Ashok Sons HUF 106,521.00 -
Repayment of Unsecured Loans
Ashoka Productions and Communications (P) Limited 701,538.00 34,477,312.00
Sh. H S Gupta ( Chairman) 737,392.00 68,553.00
Sh. Ashok Gupta ( Managing Director) 3,823,775.00 14,952,167.00
Sh. Adit Gupta ( Joint Managing Director) 410,810.00 6,039,128.00
Mrs. Chitra Gupta 19,000,000.00 6,000,000.00
Mrs. Geetika Gupta 11,000,000.00 -
Unsecured Loans Received
Ashoka Productions and Communications (P) Limited 2,015,384.68 6,773,121.00
Sh. H S Gupta ( Chairman) 7,604,129.00 685,532.00
Sh. Ashok Gupta ( Managing Director) 26,966,309.00 16,012,984.00
Sh. Adit Gupta ( Joint Managing Director) 7,586,558.00 2,891,282.00
Mrs. Chitra Gupta - 25,000,000.00
Mrs. Geetika Gupta - 10,000,000.00
Ashok Sons HUF 2,400,000.00 -
Refund of Security provided against rent of guest house
Kadam Trees Properties (P) Limited - 11,450,000.00
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
56 30th Annual Report 2012-2013
Note 29 Disclosures under Accounting Standards (contd.)
Basic and diluted earnings per share are calculated by dividing the net proft or loss for the year attributable to equity shareholders by the weighted average
number of equity shares outstanding during the year. The company has not issued any potential equity shares, accordingly, basic and diluted earning per share
are the same.
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Earnings per share
(a) Proft after taxation and exceptional items 10,928,978.59 60,272,380.31
(b) Weighted average number of shares outstanding during the year 19,166,749.00 19,166,749.00
(c) Nominal Value per Share 10.00 10.00
(d) Basic and Diluted earning per share 0.57 3.14
Note 30 Disclosures under Accounting Standards (contd.)
Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Deferred tax (liability) / asset
Tax effect of items constituting deferred tax liability
On difference between book balance and tax balance of fxed assets 83,616,435.00 90,480,591.00
Tax effect of items constituting deferred tax liability 83,616,435.00 90,480,591.00
Tax effect of items constituting deferred tax assets
Provision for compensated absences, gratuity and other employee benefts 2,127,463.00 2,926,203.00
Unabsorbed Depreciation Carried Forward 155,480.00 -
Brought Forward Business Losses 2,476,957.00 -
On items included in Reserves and surplus pending amortisation into the Statement of Proft and Loss - 2,897,656.00
Tax effect of items constituting deferred tax assets 4,759,900.00 5,823,859.00
Net deferred tax (liability) / asset (78,856,535.00) (84,656,732.00)
Note 31 Disclosures under Accounting Standards (contd.)
Particulars
Details of provisions
The Company has made provision for various contractual obligations and disputed liabilities based on its assessment of the amount it estimates to incur to meet
such obligations, details of which are given below:
Particulars As at
1st April, 2012
Additions Utilisation Reversal
(withdrawn as no
longer required)
As at
31st March, 2013
Rs. Rs. Rs. Rs. Rs.
Provision for other contingencies:
(i) Sales Tax Demand for the Year 1999-2000 to
2006-2007
4,100,000.00 - - - 4,100,000.00
(4,100,000.00) - - - (4,100,000.00)
(ii) Entry Tax for the Year 2004-2005 and
2005-2006
1,900,000.00 - - - 1,900,000.00
(1,900,000.00) - - - (1,900,000.00)
Total 6,000,000.00 - - - 6,000,000.00
(6,000,000.00) - - - (6,000,000.00)
Note: - Figures in brackets relate to the previous year.
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
57 30th Annual Report 2012-2013
Note 32 Additional information to the fnancial statements
Note Particulars As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
32.1 Contingent liabilities and commitments (to the extent not provided for)
(i) Contingent liabilities
(a) Claims against the Company not acknowledged as debt Nil Nil
(b) Guarantees - Corporate Guarantee for Subsidiary Company i.e. AMD Estates and
Developers (P) Limited
230,000,000.00 230,000,000.00
(c) Other money for which the Company is contingently liable against pending legal cases
- Sales Tax Matters 19,510,149.00 19,001,276.00
- Entry Tax Matters 2,285,409.00 2,285,409.00
- Excise Matters 10,425,252.00 1,041,360.00
- Labour Dispute 522,000.00 522,000.00
32,742,810.00 22,850,045.00
32.2 The Company has not received any Memorandum, (as required to be fled by the supplier which are registered with the Notifed Authority under the
provisions of the Micro, Small & Medium Enterprises Development Act, 2006) claiming their status as on 31st March 2013 as Micro, Small and Medium
Enterprise. Consequently, interest paid/payable to these parties during the year is NIL.
32.3 Disclosure as per Clause 32 of the Listing Agreements with the Stock Exchanges
Loans and advances in the nature of loans given to subsidiaries without any specifc repayment schedule:
Name of the party Relationship Amount outstanding as
at 31 March, 2013
Maximum balance
outstanding during
the year
AMD Estates & Developers (P) Limited Subsidiary 56,464,201.00 56,464,201.00
(47,584,398.00) (69,228,085.17)
Note: Figures in bracket relate to the previous year.
Note 32 Additional information to the fnancial statements
Note Particulars
32.4 Details on derivatives instruments and unhedged foreign currency exposures
I. The following derivative positions are open as at 31 March, 2013. These transactions have been undertaken to act as economic hedges for the
Company’s exposures to various risks in foreign exchange markets and may / may not qualify or be designated as hedging instruments.
(a) Forward exchange contracts and options [being derivative instruments], which are not intended for trading or speculative purposes but for hedge
purposes to establish the amount of reporting currency required or available at the settlement date of certain payables and receivables.
(i) Outstanding forward exchange contracts entered into by the Company as on 31 March, 2013
Currency Amount Buy / Sell Cross currency
USD 424,425.68 Buy Rupees
USD (612,877.74) Buy Rupees
USD 500,000.00 Sell Rupees
USD (2,836,482.32) Sell Rupees
Note: Figures in brackets relate to the previous year
II. The year-end foreign currency exposures that have not been hedged by a derivative instrument or otherwise are given below:
As at 31st March, 2013 As at 31st March, 2012
Receivable/(Payable) Receivable/(Payable)
in Foreign currency
Receivable/(Payable) Receivable/ (Payable)
in Foreign currency
Rs. (indicate amount with
currency)
Rs. (indicate amount with
currency)
24506774.00 USD 450580.80 Nil Nil
1798628.00 EURO 25863.24 Nil Nil
(111142512.00) (USD 929965.80) (47573795.00) (USD 929965.80)
(1046912.00) (EURO 15054) (14925522.00) (EURO 218400)
AMD Industries Limited (Consolidated) AMD Industries Limited
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
58 30th Annual Report 2012-2013
Note 32 Additional information to the fnancial statements
Note Particulars
32.5 Value of imports calculated on CIF basis : As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Raw materials 497,543,610.31 490,364,583.95
Spare parts 1,132,590.59 3,342,847.58
Capital goods 67,438,570.50 10,553,037.25
32.6 Expenditure in foreign currency : As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
Commission 1,320,248.70 2,605,271.00
Others ( Travelling Expenses etc.) 3,553,732.00 803,616.36
32.7 Details of consumption of imported and indigenous items For the year ended
31 March, 2013
Rs. %
Imported
Raw materials 392,618,081.31 40.63
(484,283,904.08) (47.46)
Total 392,618,081.31 40.63
(484,283,904.08) (47.46)
Indigenous
Raw materials 573,595,527.32 59.37
(536,054,012.91) (52.54)
Total 573,595,527.32 59.37
(536,054,012.91) (52.54)
Note: Figures / percentages in brackets relates to the previous year
As at 31st March, 2013
Rs.
As at 31st March, 2012
Rs.
32.8 Earnings in foreign exchange:
Export of goods calculated on FOB basis 128,426,690.52 349,439,908.21
32.9 Dividend
Borad of Directors have proposed Dividend of Rs. 0.90 Per share on Paid up Share capital of 19166749 equity shares. The distribution of the Dividend is
subject to approval by the shareholders.
Note 33 Previous year’s fgures
Previous year’s fgures have been regrouped / reclassifed wherever necessary to correspond with the current year’s classifcation / disclosure.
As per our report of even date attached
For Suresh & Associates For and on behalf of the Board of Directors
FRN No. 003316N
Chartered Accountants
(CA Suresh K. Gupta) (Ashok Gupta) (Adit Gupta)
Partner Managing Director Jt. Managing Director
Membership No.080050 DIN - 00031630 DIN - 00238784
(CA Laxmi Kant) (Joylin Jain)
DGM - Finance & Accounts Company Secretary
Place : New Delhi
Date : 28.05.2013
AMD Industries Limited (Consolidated) AMD Industries Limited
59 30th Annual Report 2012-2013
Particulars For the year ended
31st March, 2013
For the year ended
31st March, 2012
Rs. Rs. Rs. Rs.
A. Cash fow from operating activities
Net Proft / (Loss) before extraordinary items and tax 15,006,036.59 98,926,467.31
Adjustments for:
Depreciation and amortisation 82,878,233.72 76,343,358.34
(Proft) / loss on sale / write off of assets (8,774.29) (24,143,537.03)
Finance costs 101,032,399.80 107,345,584.29
Interest income (5,914,607.64) (2,346,855.41)
Dividend income (14,450.98) (18,900.00)
Rental income from investment properties (2,040,000.00) (1,680,806.00)
Adjustments to the carrying amount of investments 3,152,087.27 38,300.00
Net unrealised exchange (gain) / loss (8,037.30) 179,076,850.58 (11,115.15) 155,526,029.04
Operating proft / (loss) before working capital changes 194,082,887.17 254,452,496.35
Changes in working capital:
Adjustments for (increase) / decrease in operating assets:
Inventories (234,876,922.84) 87,295,346.59
Trade receivables 56,630,553.39 (105,919,538.07)
Short-term loans and advances (61,697,837.48) (13,048,529.95)
Long-term loans and advances 2,829,031.08 928,170.00
Other current assets 107,926,923.99 77,648,485.55
Adjustments for increase / (decrease) in operating liabilities:
Trade payables 87,209,097.48 (131,833,822.30)
Other current liabilities 66,407,669.93 27,996,827.93
Other long-term liabilities (102,075.00) 498,449.00
Short-term provisions (112,879,254.01) (56,554,035.86)
Long-term provisions 1,737,890.00 (86,814,923.46) 1,695,317.00 (111,293,330.11)
107,267,963.71 143,159,166.24
Cash fow from extraordinary items - -
Cash generated from operations 107,267,963.71 143,159,166.24
Net income tax (paid) / refunds (16,964,714.30) (25,622,744.12)
90,303,249.41 117,536,422.12
Net cash fow from / (used in) operating activities (A) 90,303,249.41 117,536,422.12
Cash Flow Statement for the year ended 31 March, 2013
B. Cash fow from investing activities
Capital expenditure on fxed assets, including capital advances (105,080,325.50) (18,685,684.00)
Proceeds from sale of fxed assets 66,500.00 30,170,980.00
Inter-corporate deposits (net) 1,313,846.68 (27,704,191.00)
Purchase of long-term investments
- Others - (500,000.00)
Loans given
- Associates 12,217,821.00 (27,059,848.00)
Loans realised
- Associates 24,967,198.00 44,589,798.00
Interest received
- Others 5,914,607.64 2,346,855.41
Dividend received
- Others 14,450.98 18,900.00
Rental income from investment properties 2,040,000.00 (58,545,901.20) 1,680,806.00 4,857,616.41
Cash fow from extraordinary items - -
(58,545,901.20) 4,857,616.41
Net cash fow from / (used in) investing activities (B) (58,545,901.20) 4,857,616.41
AMD Industries Limited (Consolidated) AMD Industries Limited
60 30th Annual Report 2012-2013
Particulars For the year ended
31st March, 2013
For the year ended
31st March, 2012
Rs. Rs. Rs. Rs.
C. Cash fow from fnancing activities
Proceeds from long-term borrowings 402,371,174.00 9,005,251.90
Repayment of long-term borrowings (234,237,042.84) (171,543,423.39)
Net increase / (decrease) in working capital borrowings (76,119,185.31) 83,069,071.53
Finance cost (101,032,399.80) (107,345,584.29)
Dividends paid (19,166,749.00) (19,166,749.00)
Tax on dividend (3,109,326.00) (31,293,528.95) (3,183,357.00) (209,164,790.25)
Cash fow from extraordinary items - -
(31,293,528.95) (209,164,790.25)
Net cash fow from / (used in) fnancing activities (C) (31,293,528.95) (209,164,790.25)
Net increase / (decrease) in Cash and cash equivalents (A+B+C) 463,819.26 (86,770,751.72)
Cash and cash equivalents at the beginning of the year 44,319,410.74 131,079,047.31
Effect of exchange differences on restatement of foreign
currency Cash and Cash Equivalents
8,037.30 11,115.15
Cash and cash equivalents at the end of the year 44,791,267.30 44,319,410.74
Reconciliation of Cash and cash equivalents with the
Balance Sheet:
Cash and cash equivalents as per Balance Sheet (Refer Note
17)
44,791,267.30 44,319,410.74
Less: Bank balances not considered as Cash and cash
equivalents as defned in AS-3 Cash Flow Statements (give
details)
- -
Net Cash and cash equivalents (as defned in AS 3 Cash Flow
Statements) included in Note 19
44,791,267.30 44,319,410.74
Add: Current investments considered as part of Cash and cash
equivalents (as defned in AS 3 Cash Flow Statements) (Refer
Note (ii) to Note 16 Current investments)
- -
Cash and cash equivalents at the end of the year * 44,791,267.30 44,319,410.74
* Comprises:
(a) Cash on hand 178,729.00 113,137.25
(b) Balances with banks
(i) In current accounts 4,006,179.42 9,675,866.39
(ii) In EEFC accounts 310,044.58 583,515.10
(iii) In earmarked accounts (give details) (Refer Note (ii) below) 40,109,759.00 33,802,504.00
(c) Others - Foreign Currency in hand 186,555.30 144,388.00
44,791,267.30 44,319,410.74
Notes:
(i) The Cash Flow Statement refects the combined cash fows pertaining to continuing and discounting operations.
(ii) These earmarked account balances with banks can be utilised only for the specifc identifed purposes.
As per our report of even date attached
For Suresh & Associates For and on behalf of the Board of Directors
FRN No. 003316N
Chartered Accountants
(CA Suresh K. Gupta) (Ashok Gupta) (Adit Gupta)
Partner Managing Director Jt. Managing Director
Membership No.080050 DIN - 00031630 DIN - 00238784
(CA Laxmi Kant) (Joylin Jain)
DGM - Finance & Accounts Company Secretary
Place : New Delhi
Date : 28.05.2013
Cash Flow Statement for the year ended 31 March, 2013 (Contd.)
AMD Industries Limited AMD Industries Limited
61 30th Annual Report 2012-2013
NOTE
Regd. Office : 18, Pusa Road First Floor, Karol Bagh, New Delhi-110 005
Regd. Office : 18, Pusa Road First Floor, Karol Bagh, New Delhi-110 005
ATTENDANCE SLIP
PROXY FORM
Folio No./DP ID/Client ID #
No. of Equity Shares held
I hereby record my presence at the 30 Annual General Meeting of the Company being held at Daffodils
Hotels, Tania Farms Complex, Chattarpur Mandir Road, Satbari Village, New Delhi-110 030, on Tuesday the
24 September, 2013 at 10.30A.M.
th
th
Name of the Shareholder
(in block letter)
Name of Proxy/Authorised
Representative attending* (in block letter)
Signature of the Shareholder or Proxy
*Strike out whichever is not applicable
# Applicable for investors holding shares in dematerialised form
Notes : Please produce this Admission Slip duly filled and signed at the entrance of the meeting hall.
Shareholders intendingtoappoint a proxy may use the Proxy Formgivenbelow.
Signature of the attending Shareholder/Proxy/Authorised Representative*
I / We...........................................................................................................................................................
of.......................................................... being a member / members of AMD Industries Ltd. hereby appoint
Shri/Smt./Km...................................... ................................... of .................................................................. or
failing him Shri/Smt./Km./....................................................of................................................................... or
failing him Shri/Smt./Km./....................................................of................................................................... as my /
our proxy in my / our absence to attend and vote for me / us and on my / our behalf at the 30 Annual General
Meeting of the Company to be held at Daffodils Hotels, Tania Farms Complex, Chattarpur Mandir Road, Satbari
Village, NewDelhi-110 030 onTuesday, the 24 September, 2013 at 10.30A.M. and at any adjournment thereof.
th
th
Signed this................ day of ...................2013
Folio No./DP ID/Client ID #
No. of Equity Shares held
Signature(s).....................................
Affix
Rupees 1/-
Revenue
Stamp
# Applicable for Shareholders holding shares in dematerialised form.
Notes : The proxy, in order to be effective, should be duly completed, stamped and signed and
must be deposited at the Registered Office of the Company at 18, Pusa Road, First Floor, Karol
Bagh, NewDelhi - 110 005, at least 48 hours before the scheduledtime.
AMD Industries Limited
AMD Industries Limited
An effort towards Corporate Social Responsibility : An effort towards Corporate Social Responsibility :
With the kind efforts of Mr. Harswarup Gupta,
the Chairman of the Company, the education
institution established under the name
“Keshav Madhav Saraswati Vidhya Mandir”
in highly backward and remote area at village
Kakore, Distt. Gautam Budh Nagar, Uttar
Pradesh has made its own recognition in the
area. With the continued efforts of the
Chairman the said education institution is
touching its new heights. The institution has
got the recognition upto 12 standard by the
th
Central Board of Secondary Education and
KESHAV MADHAV SARASWATI VIDHYA MANDIR, KAKORE (G.B. NAGAR) KESHAV MADHAV SARASWATI VIDHYA MANDIR, KAKORE (G.B. NAGAR)
nowchildren of the School are not required to
look for another school which is far away
place for their education beyond 10
standard. Inspite of having in the backward
area it has been achieving excellent result,
year to year. During the year the School has
organised a sports meet and historical tour
for enhancement of knowledge and interest
of students in the said areas. The
management has added more class rooms
due to increase in strength of students during
the year
th
AMD Industries Limited
18, Pusa Road, 1st Floor, Karol Bagh, New Delhi 110 005
Tel. : 91-11-28753136, 28750649/50
Fax : 91-11-28753591
email : [email protected]
Url : www.amdindustries.com
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doc_863186294.pdf