Promact Plastics Ltd. के अकाउंट के लिये नोट

Mar 31, 2024

13. PROVISIONS, CONTINGENT LIABILITIES AND CONTIGENT ASSETS:-

A provision is recognised when there is a present obligation as a result of a past event, that probably requires
an outflow of resources and a reliable estimate can be made to settle the amount of obligation. Provision is not
discounted to its present value and is determined based on the last estimate required to settle the obligation at
the year end. These are reviewed at each year end and adjusted to reflect the best current estimate. Contingent
liabilities are not recognised but disclosed in the financial statements. Contingent assets are neither recognised
nor disclosed in the financial statements.

Financial liabilities at fair value through OCI

Financial liabilities at fair value through OCI reflect the change in fair value of foreign exchange forward contracts,
designated as cash flow hedges to hedge highly probable future purchases in GBP. Financial liabilities at fair value
through OCI also include the change in fair value of commodity forward contracts contracted during 31 March
2018. The Company is exposed to changes in the price of copper on its forecast copper purchases. The forward
contracts do not result in physical delivery of copper, but are designated as cash flow hedges to offset the effect
of price changes in copper. The Company hedges approximately 45% of its expected copper purchases in the next
reporting period. The remaining volume of copper purchases is exposed to price volatility.

32 Earnings per Share (EPS) as per Indian Accounting Standard 33:

Basic EPS amount are calculated by dividing the profit for the year attributable to equity holders of the parent by
the weighted average number of equity shares outstanding during the year. Diluted EPS amounts are calculated
by dividing the profit attributable to equity holders of the parent (after adjusting for interest on the convertible
preference shares) by the weighted average number of equity shares outstanding during the year plus the
weighted average number of equity shares that would be issued on conversion of all the dilutive potential equity
shares into equity shares.

34. During the year the company has incurred cash Profit of Rs. 99.44 Lakhs and at the end of the year negative net
worth of the company is Rs. 195.32 Lakhs and the accounts are prepared on Going Concern basis. As per the
information and explanations given to us, the company is taking positive steps to move further for survival and
development.

35. Micro and Small Scale Business Enterprises:

The management has initiated the process of identifying enterprises which have been providing goods and
services to the company and which qualify under the definition of micro and small enterprises, as defined under
Micro, Small and Medium Enterprise Development Act, 2006. Accordingly, the disclosure requirement here under
is not furnished.

36. Balance conformations in respect of debtors, creditors and loan & Advance granted / taken are subject to
confirmation and reconciliation.

37. Segment Reporting Policies: Business Segment:

The company has discontinue the running business, but earned income from trading, rent, interest income from
advance given as such segment reporting policy not considered in the year under consideration.

38. As per Information and explanation given to us the company has set off the deferred tax liability against the
deferred tax assets and net result of deferred tax assets have not been recognized since there is no reasonable
certainty that sufficient future taxable income will be available against which such deferred tax assets can be
realized and as such not accounted in Books of Accounts.

Note 1510. Signifi cant accounting policies and practices adopted by the Company are disclosed in the statement
annexed to these financial statements as Annexure I.

Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current
year''s classification disclosure.

As per our report of even date For and on behalf of the board of director.

For Fenil P Shah & Associates.

CHARTERED ACCOUNTANTS Ankitbhai J . Patel. Nikitaben J. Patel

Firmregistration number: 143571W [Managing Director] [Director]

DIN :02351167 DIN :03092770

(Fenil P Shah) Vipul F. Bhavsar. Parth B. Thakkar

Proprietor. [Chief Financial Officer] [Company Secretary &

Membership no.: 141088 Compliance Officer]

UDIN : 24141088BKABOR8116 ACS - 56974

Place: Ahmedabad Place: Ahmedabad

Date: 14/05/2024 Date: 14/05/2024

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Mar 31, 2015

1. Corporate Information

Promact Plastics Limited. a listed company at Bombay Stock Ltd. And Ahmedabad Stock Exchange Ltd The company is engaged in manufacturing of HDPE /PP Woven Bags, Fabrics and Tarpauline at Dediyasan G.I.D.C. Mehsana, Gujarat, India since more than Thirty years, but at present discontinue the same.

2 The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 hence disclosures relating to amounts unpaid as at year end together with interest paid / payable under this Act have not been given.

3 Balances of Trade Payable have been taken as per books and are subject to reconciliation / confirmation and consequential adjustments, if any.

4 - a) Contingent liabilities and commitments (to the extent not provided for)

(i) Contingent Liabilities

(a) Other money for which the company is contingently liable:

Bank Guarantee - -

Letter of Credit - -

5. During the year the company has not incurred cash loss but at the end of the year negative net worth of the company is Rs. 265.19 Lacs and the accounts are prepared on Going Concern basis. As per the information and explanations given to us, the company is taking positive steps to move further for survival and development.

6. Micro and Small Scale Business Enterprises:

The management has initiated the process of identifying enterprises which have been providing goods and services to the company and which qualify under the definition of micro and small enterprises, as defined under Micro, Small and Medium Enterprise Development Act, 2006. Accordingly, the disclosure requirement here under is not furnished.

7. Balance conformations in respect of debtors, creditors and loan & Advance granted /taken are subject to confirmation and reconciliation.

8. Segment Reporting Policies:

Business Segment

The company has discontinue the running business, but earned the interest income from advance given and earned income from Trading of Land as such segment reporting policy not considered in the year under consideration.

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Mar 31, 2014

1. The Cash Flow Statement is prepared in accordance with the format prescribed in Accounting Standard-3 issued by the Institute of Chartered Accountants of India.

2. In part A of the Cash Flow Statement, figures in brackets indicate deductions made from Net Profit for deriving cash flow from operating activities. In Parts (B) and (C), figures in brackets indicate cash outflows.

3. Figures of the previous year have been regrouped wherever necessary, to confform to current year''s presentation

NOTES FORMING PARTS OF FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2014 NOTES TO ACCOUNTS

1. Corporate Information

Promact Plastics Limited. a listed company at Bombay Stock Ltd. And Ahmedabad Stock Exchange Ltd The company is engaged in manufacturing of HDPE /PP Woven Bags, Fabrics and Tarpauline at Dediyasan G.I.D.C. Mehsana, Gujarat, India since more than Thirty years

2013-14 2012-13

Note 2 - a) Contingent liabilities and commitments (to the extent not provided for) (i) Contingent Liabilities

(a) Other money for which the company is contingently liable:

Bank Guarantee - 2,935,000

Letter of Credit - -

- 2,935,000

- 2,935,000

3. CONTINGENT LIABILITIES

2013-14 2012-13 (Rs. in Lacs)

Contingent Liability (Bank Guarantee ) NIL 29,35,000

4. During the year the company has incurred cash loss of Rs. 68.62 Lacs and at the end of the year negative net worth of the company is Rs. 363.40 Lacs and the accounts are prepared with the concept of Going Concern. As per the information and explanations given to us, the company is taking positive steps to move further for survival and development.

5. Micro and Small Scale Business Enterprises:

The management has initiated the process of identifying enterprises which have been providing goods and services to the company and which qualify under the definition of micro and small enterprises, as defined under Micro, Small and Medium Enterprise Development Act, 2006. Accordingly, the disclosure requirement here under is not furnished.

6. Balance conformations in respect of debtors, creditors and loan & Advance granted / taken are subject to confirmation and reconciliation.

7. Segment Reporting Policies:

Business Segment

The company has discontinue the running business, but earned the interest income from advance given and as such segment reporting policy not considered in the year under consideration.

8. Other Accounting Policies:

Accounting policies not specifically referred to, are consistent with the generally Accepted accounting practices.

The Revised Schedule VI has become effective from April 1, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements.

Previous year''s figures have been regrouped / re classified wherever necessary to correspond with the current year''s classification disclosure.

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Mar 31, 2013

1. Corporate Information

Promact Plastics Limited. a listed company at Bombay Stock Ltd. And Ahmedabad Stock Exchange Ltd The company is engaged in manufacturing of HDPE /PP Woven Bags, Fabrics and Tarpauline at Dediyasan G.I.D.C. Mehsana, Gujarat, India since more than twenty nine years

2. CONTINGENT LIABILITIES

2012-13 2011-12 (Rs. in Lacs)

Contingent Liability (Bank Guarantee) 29,35,000 56,89,000

3. During the year the company has incurred cash loss of" 238.86 Lacs and at the end of the year negative net worth of the company is " 378.99 Lacs and the accounts are prepared with the concept of Going Concept. As per the information and explanations given to us, the company is taking positive steps to move further for survival and development.

4. Micro and Small Scale Business Enterprises: The management has initiated the process of identifying enterprises which have been providing goods and services to the company and which qualify under the definition of micro and small enterprises, as defined under Micro, Small and Medium Enterprise Development Act, 2006. Accordingly, the disclosure requirement here under is not furnished.

5. Balance conformations in respect of debtors, creditors and loan & Advance granted / taken are subject to confirmation and reconciliation.

6. Segment Reporting Policies:

Business Segment

The Company is exclusively engaged in the business of manufacturing of HDPE/PP Bags Fabrics and Tarpauline. This in the context of AS 17 "Segment Reporting", notified under the Companies (Accounting Standard) Rules, 2006, constitute one single primary segment.

7. Other Accounting Policies:

Accounting policies not specifically referred to, are consistent with the generally Accepted accounting practices.

8. Related Party Disclosures :

A. List of related parties with whom transactions have taken place during the year

I. Name of the related parties Short name Nature of the relationship

Prabhu Steel Corporation. PSC Relative.

II. Key Managerial Personnel:

Ms. Payalben J. Patel. Chairperson

Ms. Nikitabhen J. Patel. Director.

Mr. Ankitbhai J. Patel Director.

The Revised Schedule VI has become effective from April 1, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements.

Previous year''s figures have been regrouped / re classified wherever necessary to correspond with the current year''s classification disclosure.

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Mar 31, 2012

1 The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 hence disclosures relating to amounts unpaid as at year end together with interest paid / payable under this Act have not been given.

1.1 Balances of Trade Payable have been taken as per books and are subject to reconciliation / confirmation and consequential adjustments, if any.

Note 1 - a) Contingent liabilities and 2011-12 2010-11 commitments (to the extent not provided for) Rs. Rs.

(i) Contingent Liabilities

(a) Other money for which the company is contingently liable: Bank Guarantee 5,689,000 3,827,000

Letter of Credit - -

5.689.000 3,827,000

5.689.000 3,827,000

b) Details of Dividend Payment

Particulars Total Rs. Per share Rs.

Dividends proposed to be distributed to equity shareholders - -

c) In the opinion of the Board, all assets other than fixed assets and non current investments, have a realisable value in the ordinary course of business which is not different from the amount at which it is stated.

1. CONTINGENT LIABILITIES

(Rs. in Lacs)

2011-12 2010-11

Contingent Liability (Bank Guarantee) 56,89,000.00 38,27,000.00

2. During the year the company has incurred cash loss of Rs 171.43 lacs and at the end of the year negative net worth of the company is Rs.90.85 lacs and the accounts are prepared with the concept of Going Concept. As per the information and explanations given to us, the company is taking positive steps to move further for survival.

3. Micro and Small Scale Business Enterprises: The management has initiated the process of identifying enterprises which have been providing goods and services to the company and which qualify under the definition of micro and small enterprises, as defined under Micro, Small and Medium Enterprise Development Act, 2006. Accordingly, the disclosure requirement here under is not furnished.

4. Balance conformations in respect of debtors, creditors and loan & Advance granted / taken are subject to confirmation and reconciliation.

5. The revised schedule VI has been effective from April 2011 for the preparation of financial statement. This has significantly impacted the disclosure and presentation made in financial statement.

Previous year's figures have been regrouped / re classified wherever necessary to correspond with the current year's classification disclosure.

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Mar 31, 2011

1. CONTINGENT LIABILITIES

(Rs. in Lacs)

2010-11 2009-10

Contingent Liability Nil Nil

2. In the opinion of the Board and to the best of their knowledge and belief, the value on realization of the current Assets, Loans and Advances in the ordinary course of the business will not be less than the amount stated in the Balance Sheet.

3. The previous year figures have been regrouped / reclassified, wherever necessary, to make them comparable with the figures of current year.

4. During the year the company has incurred cash loss of Rs. 72.08 lacs and at the end of the year net worth is positive by Rs. 76.24 lacs and the accounts are prepared with the concept of Going Concept. As per the information and explanations given to us, the company is taking positive steps to move further for survival.

5. No outstanding of SSI creditors to whom an amount of Rs. 1 lac or more payable and was outstanding for more than 30 days as of 31/03/2011.

6. Micro and Small Scale Business Enterprises:

The management has initiated the process of identifying enterprises which have been providing goods and services to the company and which qualify under the definition of micro and small enterprises, as defined under Micro, Small and Medium Enterprise Development Act, 2006. Accordingly, the disclosure requirement here under is not furnished.

7. Balance conformations in respect of debtors, creditors and loan & Advance granted / taken are subject to confirmation and reconciliation.

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Mar 31, 2010

1. CONTINGENT LIABILITIES

(Rs. in Lacs)

2009-10 2008-09

Contingent Liability Nil Nil



2. In the opinion of the Board and to the best of their knowledge and Belief, the value on realization of the current Assets, Loans and Advances in the ordinary course of the business will not be less than the amount stated in the Balance Sheet.

3. The previous year figures have been regrouped / reclassified, wherever necessary, to make them comparable with the figures of current year.

4. During the year the company has incurred cash loss of Rs 2.00 lacs and at the end of the year net worth is positive by Rs. 159.40 lacs and the accounts are prepared with the concept of Going Concept. As per the information and explanations given to us, the company is taking positive steps to move further for survival.

5. No outstanding of SSI creditors to whom an amount of Rs. 1 lac or more payable and was outstanding for more than 30 days as of 31/03/2010.

6. Micro and Small Scale Business Enterprises:

The management has initiated the process of identifying enterprises which have been providing goods and services to the company and which qualify under the definition of micro and small enterprises, as defined under Micro, Small and Medium Enterprise Development Act; 2006. Accordingly, the disclosure requirement here under is not furnished.

7. Balance conformations in respect of debtors, creditors and loan & Advance granted / taken are subject to confirmation and reconciliation.

8. Additional information pursuant to the provisions of Paragraphs 3,4C & 4D of the Part - II of Schedule VI of the Company Act, 1956 as amended by the Companies (Amendment) Act, 1988.

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Mar 31, 2009

1. CONTINGENT LIABILITIES

(Rs. in Lacs)

2008-09 2007-08

Nil Nil

2. In the opinion of the Board and to the best of their knowledge and belief, the value on realization of the current Assets, Loans and Advances in the ordinary course of the business will not be less than the amount stated in the Balance Sheet.

3. The previous year figures have been regrouped / reclassified, wherever necessary, to make them comparable with the figures of current year.

4. During the year the company has incurred cash loss of Rs 107 92 lacs and at the end of the year net worth is negative by Rs 7.34 lacs. However, the accounts are prepared with the concept of Going Concept. As per the information and explanations given to us, the company is taking positive steps to move further for survival.

5. Company does not have information about SSI status of creditor particulars of SSI creditors. Hence, particulars of SSI creditors to whom an amount of Rs. 1 lac or more payable and was outstanding for more than 30 days is not furnished.

6. Micro and Small Scale Business Enterprises:

The management has initiated the process of identifying enterprises which have been providing goods and services to the company and which qualify under the definition of micro and small enterprises, as defined under Micro, Small and Medium Enterprise Development Act, 2006. Accordingly, the disclosure requirement . here under is not furnish.

7. Balance conformations in respect of debtors, creditors and loan granted / taken are subject to conformation and reconciliation.

8. Additional information pursuant to the provisions of Paragraphs 3,4C & 4D of the Part - II of Schedule VI of the Company Act, 1956 as amended by the Companies (Amendment) Act, 1988.

9. Quantitative Details as per Para - III and IV of Schedule VI of Companies Act, 1956.

Additional information in respect of quantitative details required to be given under Para - III and IV of Schedule VI of Companies Act, 1956 (as certified by Managing Director)

(A) CAPACITY & PRODUCTION

Licence Capacity : NA

Installed Capacity : 6750 Mt Pa

Production (As Certify by the management)

10. Generic Name of Principal Product of Company

Item Code No. : 39239000

Products Description : HDPE/PP Woven Fabrics & Sacks