Gem Spinners India Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

G) PROVISIONS AND CONTINGENT LIABILITIES

1. Provisions involving substantial degree of estimation in
measurement are recognised when there is a present obligation
as result of past events and it is probable that there will be outflow
of resources.

2. Contingent Liabilities - Nil

H) IMPAIRMENT OF NON FINANCIALS ASSETS

Consideration is given at each balance sheet to determine whether
there is any indication of impairment of the carrying amount of the
company''s fixed assets. If any indication exists an asset''s recoverable
amount is estimated. An impairment loss is recognised whenever the
carrying amount of an asset exceeds recoverable amount.

I) TRADE & OTHER PAYABLE

These amounts represent liabilities for services received by the
Company prior to the end of financial year which are unpaid. The
amounts are unsecured and are usually paid within 30 days of
recognition. Trade and other payables are presented as current
liabilities unless payment is not due within 12 months after the
reporting period. They are recognized initially at their fair value and
subsequently measured at amortised cost using the effective interest
method.

J) BORROWING COST

As there are no borrowings during this financial year the same is not
applicable.

K) SEGMENT REPORTING :

The Company''s principal business activity being manufacture and
export of cotton yam and grey facics and In the same commodity.
However, during the financial year no operations were carried out.

2. The debit and credit balances of parties are subject to
confirmation.

3. In the absence of taxable income as per the provisions of the
Income Tax Act, 1961, no provision has been made for taxation in
the accounts.

4. The Company has not received any intimation from suppliers
regarding their status under the Micro, Small and Medium enterprises
Act, 2006 and hence disclosures, if any, relating to amounts unpaid
as the year end together with interest paid / payable as required under
the said Act have not been given.

5. Disclosures in respect of provisions pursuant to Accounting
Standard - 29.

13. The Company has not obtained loan during the year.

14. Previous years'' figures have been regrouped and rearranged
wherever necessary so as to confirm the current years'' presentation.
Figures in brackets represent previous years'' figures.

For and on behalf of the Board

As per our report of even date
M/s. Vivkekanadan Associates

Chartered Accountants
Firm Regn No: 005268S

R. Veeramani S. Sakthivel S. Dehaleesan

Maging Director Director Partner

DIN No. 00032895 DIN No. 10642354 UDIN : 25027312BMITGE5188

Place : Chennai A. Vani G. Senthilvel

Date : 30-07-2025 Company Secretary Chief Financial Officer

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Mar 31, 2024

g) PROVISIONS AND CONTINGENT LIABILITES

1. Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation as result of past events and it is probable that there will be outflow of resources.

2. Contingent Liabilities - Nil

h) IMPAIRMENT OF NON FINANCIALS ASSETS

Consideration is given at each balance sheet to determine whether there is any indication of impairment of the carrying amount of the company''s fixed assets. If any indication exists an asset''s recoverable amount is estimated. An impairment loss is recognised whenever the carrying amount of an asset exceeds recoverable amount.

i) Trade & Other Payable

These amounts represents liabilities for services received by the Company prior to the end of Financial year which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognized initially at their fair value and subsequently measured at amortised cost using the effective interest method.

j) BORROWING COST

As there are no borrowings during this financial year the same is not applicable.

k) SEGMENT REPORTING :

The Company is engaged in the business of manufacture and export of cotton yarn and grey fabrics and also trade in the same commodity and accordingly trading is considered as a segment.

J

16. ADOPTION OF INDIAN ACCOUNTING STANDARD (IND AS):

Pursuant to the notification of the Companies (Indian Accounting Standard) Rules, 2015 by the Ministry of Corporate Affairs (MCA) on 16 February 2015, the company has adopted IND AS (Indian Accounting standards) from the financial year 2017-18.

17. OTHER DISCLOSURES AND ADDITIONAL INFORMATION AS PER REQUIREMENTS IN Revised SCHEDuLE III OF The COMpANIES ACT 2013

(A) OTHER DISCLOSuRES

1. employee benefit plans

As per Accounting Standard 15, Employee Benefit, the disclosure of employees'' benefits are given below:

2. The debit and credit balances of parties are subject to confirmation.

3. In the absence of taxable income as per the provisions of the Income Tax Act, 1961, no provision has been made for taxation in the accounts.

4. The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium enterprises Act, 2006 and hence disclosures, if any, relating to amounts unpaid as the year end together with interest paid / payable as required under the said Act have not been given.

5. Disclosures in respect of provisions pursuant to Accounting standard - 29

For and on behalf of the Board As per our report of even date

For M/s.VIVEKANANDAN & ASSOCIATES

R.Veeramani S. Gopal S. Sakthivel Chartered Accountants

Managing Director Director Director Firm regn. No.: 005268S

Din: 00032895 Din: 06448007 Din: 10642354 _V._Vivekanandan

partner

Place : Chennai A. Vani G.Senthilvel ^{Membership No. 027204}

D_at_{e :} 29.05.2024 Company Secretary Chief Financial Officer uDIN : 24027204BKEZFG1174

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Mar 31, 2015

1. EMPLOYEE BENEFIT PLANS

2. The debit and credit balances of parties are subject to confirmation.

3. In the absence of taxable income as per the provisions of the Income Tax Act, 1961, no provision has been made for taxation in the accounts.

4. The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium enterprises Act, 2006 and hence disclosures, if any, relating to amounts unpaid as the year end together with interest paid / payable as required under the said Act have not been given.

5. Interest on others in Schedule – 12 is net of interest income of Rs. 1.17 Lakhs (Nil)

6. Disclosure under Accounting Standard 17 – SEGMENT REPORTING

7. Previous years' figures have been regrouped and rearranged wherever necessary so as to confirm the current years' presentation. Figures in brackets represent previous years' figures.

8. Loans and Advances for the year under report from the Group Company is Nil.

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Mar 31, 2014

1. CORPORATE PROFILE:

Gem Spinners India Limited was incorporated as a Public Limited Company on 18th October 1990. The Company''s shares are listed in Madras and Bombay Stock Exchanges.

The Company has set up a plant for the Manufacture of Cotton yarn and Grey Fabrics at Mangalam Village, Kancheepuram District, Tamil Nadu.

2. Contingent Liabilities: Rs.61.52 Lakhs ( Rs.40.11 Lakhs)

3. EMPLOYEE BENEFIT PLANS

The following table set out the status of the gratuity plan as required under AS 15

4. The debit and credit balances of parties are subject to confirmation.

5. In the absence of taxable income as per the provisions of the Income Tax Act, 1961, no provision has been made for taxation in the accounts.

6. The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Act, 2006 and hence disclosures, if any, relating to amounts unpaid as the year end together with interest paid / payable as required under the said Act have not been given.

7. Disclosures in respect of provisions pursuant to Accounting standard - 29

8. Interest on others in Note -14 is net of interest income of Rs. Nil (Rs.7.03 Lakhs)

9. Disclosure under Accounting Standard 17 - SEGMENT REPORTING

10. Loans and Advances for the year under report from the Group Company is Nil

11. Earnings Per Share:

12. Disclosure in respect of related Parties pursuant to Accounting Standard 18 is disclosed in Corporate Governance in Item No.5.

13 Additional Information pursuant to Part II of Schedule VI to the Companies Act, 1956.

A) Sales, Production and Stocks

B) Traded Goods (Cotton Yarn)

C) Raw Material Consumed

D) Value of Imports calculated on CIF basis

E) Value of Consumption - Stores, Spares and Packing Materials

F) Expenditure in Foreign Currency (on remittance basis)

G) Earnings in Foreign Exchange

FOB value of goods exported - Rs. 1297.60 Lakhs (Rs.1016.68 Lakhs)

14. Sitting Fees to Directors - Rs.30000 (Rs.36000)

15. AUDITORS'' REMUNERATION (Rs. in Lakhs)

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Mar 31, 2013

1. A provision is made based on a reliable estimate when it is probable that an outflow of resources embodying economic benefits will be required to settle an obligation. Contingent liabilities are disclosed in the notes to accounts and are determined based on the management perception

2. Contingent Liabilities: Rs. 40.11 Lakhs (Nil) 2. EMPLOYEE BENEFIT PLANS

The following table set out the status of the gratuity plan as required under AS 15

The Company has recognized the following amounts in the Profit & Ldss Account for the year:

3. The debit and credit balances of parties are subject to confirmation.

4. In the absence of taxable income as per the provisions of the Income Tax Act, 1961, no provision has been made for taxation in the accounts.

5. The inventories are valued as per the Accounting Standard - 2 (Valuation of inventories) issued by the Institute of Chartered Accountants of India (ICAI)

6. Account of certain creditors, debtors and advances given are subject to confirmation and reconciliation / adjustment, if any. However, in the opinion of management, there would not be any material impact on the financial statements.

7. The Company has not received any intimation from suppliers regarding their status under the'' Micro, Small and Medium enterprises Act, 2006 and hence disclosures, if any, relating to amounts unpaid as the year end together with interest paid / payable as required under the said Act have not been given.

8. i) Foreign Exchange difference (Net) credited to Profit and Loss Account Rs. 7.70 Lakhs.

(Previous Year: Credit Rs.13.97 Lakhs).

ii) The Company uses Forward Exchange Contracts to hedge its risks associated with foreign currency fluctuations relating to certain firm commitments and forecasted transaction. The Company doe''s not enter into any such instruments for trading or speculative purpose. ,_ «

iii) The year end foreign currency exposures that have not been hedged are given below:

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Mar 31, 2012

1. The debit and credit balances of parties are subject to confirmation.

2. In the absence of taxable income as per the provisions of the Income Tax Act, 1961, no provision has been made for taxation in the accounts.

3. The inventories are valued as per the Accounting Standard - 2 (Valuation of inventories) issued by the Institute of Chartered Accountants of India (ICAI)

4. Account of certain creditors, debtors and advances given are subject to confirmation and reconciliation/adjustment, if any. However, in the opinion of management, there would not be any material impact on the financial statements.

5. i. Foreign Exchange difference (Net) credited to Profit and Loss Account Rs. 13.97 Lakhs.

(Previous Year : Credit Rs. 43.04 Lakhs).

ii. The Company uses Forward Exchange Contracts to hedge its risks associated with foreign currency fluctuations relating to certain firm commitments and forecasted transaction. The Company does not enter into any such instruments for trading or speculative purpose.

6. Interest on others in Schedule - 12 is net of interest income of Rs. 7.77 Lakhs (Rs. 10.13 Lakhs) Tax deducted at source thereon Rs. 0.92Lakhs (Rs. 0.88 Lakhs)

7. Loans and Advances for the year under report from the Group Company is Nil.

8. Disclosure in respect of related Parties pursuant to Accounting Standard 18 is disclosed in Corporate Governance in Item No.6.

9. Additional Information pursuant to Part II of Schedule VI to the Companies Act, 1956.

10. Previous years figures have been regrouped and rearranged wherever necessary so as to confirm the current years' presentation. Figures in brackets represent previous years' figures.

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Mar 31, 2010

1. A provision is made based on a reliable estimate when it is probable that an outflow of resources embodying economic benefits will be required to settle an obligation. Contingent liabilities are disclosed in the notes to accounts and are determined based on the management perception

2. Contingent Liabilities: NIL (Rs. 15 Lakhs)

3. The Company has entered into a Scheme of One Time Settlement with ICICI Bank and as far as the outstanding of HDBI is concerned, the proposal is under process by IDBI.

4. The debit and credit balances of parties are subject to confirmation

5. In the absence of taxable income as per the provisions of the Income Tax Act, 1961, no provision has been made for taxation in the accounts.

6. The inventories are valued as per the Accounting Standard - 2 (Valuation of inventories) issued by the Institute of Chartered Accountants of India (ICAI)

7. Account of certain creditors, debtors and advances given are subject to confirmation and reconciliation / adjustment, if any. However, in the opinion of management, there would not be any material impact on the financial statements.

8. The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium enterprises Act, 2006 and hence disclosures, if any, relating to amounts unpaid as the year end together with interest paid / payable as required under the said Act have not been given.

9. a) Foreign Exchange difference (Net) credited to Profit and Loss Account Rs.57.36 Lakhs (previous Year : Credit Rs.30.76 Lakhs).

b) The Company uses Forward Exchange Contracts to hedge its risks associated with foreign currency fluctuations relating to certain firm commitments and forecasted transaction. The Company does not enter into any such instruments for trading or speculative purpose.

10. Loans and Advances for the year under report from the Group Company is NIL

11. Disclosure in respect of related Parties pursuant to Accounting Standard 18 is NIL

12. Additional Information pursuant to Part II of Schedule VI to the Companies Act, 1956

H) Earnings in Foreign Exchange

FOB value of goods exported - Rs. 6410.40 Lakhs (Rs. 8564.14 Lakhs)

13. Sitting Fees to Directors-Rs. 51,000 (Rs. 48,000)

14. Previous years figures have been regrouped and rearranged wherever necessary so as to confirm the current years presentation. Figures in brackets represent previous years figures.