Samkrg Pistons & Rings Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

13. Provisions and contingent liabilities:

(a) Provisions: Provisions are recognized when there is a present obligation as a result of a past event, it
is probable that an outflow of resources embodying economic benefits will be required to settle the
obligation and there is a reliable estimate of the amount of the obligation.

Current provisions are measured at the best estimate of the expenditure required to settle the present
obligation at the Balance Sheet date and are not discounted to its present value.

(b) Contingent Liabilities: Contingent liabilities are disclosed when there is a possible obligation arising
from past events, the existence of which will be confirmed by the occurrence of non-occurrence of one
or more uncertain future events not wholly within the control of the company or a present obligation
that arises from past events where it is probable that an outflow of resources will be required to settle
of reliable estimate of the amount cannot be made.

14. Cash and cash equivalents: In the cash flow statement, cash and cash equivalents include cash, demand
deposits with banks, other short term highly liquid investments with original maturities of three months or
less.

15. Segment Reporting under Ind AS-108:

The Company is engaged in a single segment (i.e. the business of “automotive components” from where it is
earning its revenue and incurring expenses. The operating results are regularly reviewed and performance
is assessed by its Chief Operating Decision Maker (CODM).All the company resources are dedicated to this
single segment and all the discrete financial information is available for this segment. The geographical
information in respect of customers

Is given in Note 38, Notes to accounts and Significant accounting policies.

16. IND AS-23 BORROWING COST: Ind AS 23, ‘Borrowing Costs’ The amendments clarify that if a specific
borrowing remains outstanding after the related qualifying asset is ready for its intended use or sale, it
becomes part of general borrowings. As the Company does not have any borrowings, there is no impact on
account of this amendment.

17. UNCERTAINLY OVER INCOME TAX TREATMENTS TO IND AS 12 INCOME TAXES.

Appendix C, Uncertainty over Income Tax Treatments, to Ind AS 12, ‘Income Taxes’ The appendix explains
how to recognize and measure deferred and current income tax assets and liabilities where there is
uncertainty over a tax treatment. In particular, it discusses:

- How to determine the appropriate unit of account, and that each uncertain tax treatment should
be considered separately or together as a group, depending on which approach better predicts the
resolution of the uncertainty;

- That the entity should assume a tax authority will examine the uncertain tax treatments and have full
knowledge of all related information, i.e., that detection risk should be ignored;

- That the entity should reflect the effect of the uncertainty in its income tax accounting when it is not
probable that the tax authorities will accept the treatment;

That the impact of the uncertainty should be measured using either the most likely amount or the
expected value method, depending on which method better predicts the resolution of the uncertainty;
and that the judgments and estimates made must be reassessed whenever circumstances have changed
or there is new information that affects the judgments.

- The application of this guidance is not expected to have an impact on the separate financial statements.

18. CURRENT VS NON-CURRET CLASSIFICATION:

The Company presents assets and liabilities in the balance sheet based on current/ non-current classification.
An asset as current when it is:

- Expected to be realized or intended to sold or consumed in normal operating cycle

- Held primarily for the purpose of trading

- Expected to be realized within twelve months after the reporting period,

Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least
twelve months after the reporting period. All other assets are classified as non-current

A liability is current when:

- It is expected to be settled in normal operating cycle

- It is held primarily for the purpose of trading

- It is due to be settled within twelve months after the reporting period,

There is no unconditional right to defer the settlement of the liability for at least twelve months after
the reporting period The Company classifies all other liabilities as non-current.

Deferred tax assets and liabilities are classified as noncurrent assets/noncurrent liabilities.

19. Ind AS 116 - Leases

The Company elects not to apply IND AS 116, as it has got short term leases (Recognition Exemption)

20. Functional and presentation currency:

These financial statements are presented in Indian Rupees (INR), which is the company’s functional currency.
All financial information is presented in INR rounded to the nearest Lakhs except share and per share data,
unless otherwise stated.

Exchange differences are recognized in the Statement of Profit and Loss.

21. Capital management

The Company’s objective for managing capital is to ensure as under:

i) To ensure the company’s ability to continue as a going concern

ii) Maintaining a strong credit rating and debt equity ratio in order to support business and maximize the
share holders’ value.

iii) Maintain an optimal capital structure.

iv) Compliance of financial covenants under the borrowing facilities.

For the purpose of capital management, capital includes issued equity capital, and all other equity reserves
attributable to the equity holders of the Company

The Company manages its capital structure keeping in view of:

i) Compliance of financial covenants under the borrowing facilities.

ii) Changes in economic conditions

In order to achieve this overall objective of capital management, amongst other things, the Company
aims to ensure that it meets financial covenants attached to the borrowing’s facilities defining capital
structure requirements, where breach in meeting the financial covenants may permit the lender to
call the borrowings.

There has been no breach in the financial covenants of any borrowing facility in the current period.
There is no change in the objectives, policies or processes for managing capital over previous year. To
maintain the capital structure, the Company may vary the dividend payment to shareholders. (Refer
Note 41 Notes on Significant Accounting Policies)

22. Financial risk management

The Company’s principal financial liabilities comprise of loans and borrowings, trade and other payables.
The main purpose of these financial liabilities is to finance the Company’s operations. The Company’s
principal financial assets include loans, trade and other receivables, and cash and cash equivalents that it
derives directly from its operations. The Company is exposed to market risk, credit risk and liquidity risk.
The Company’s senior management oversees the management of these risks under appropriate policies and
procedures.

i. Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate
because of changes in market prices. Market risk comprises three types of risk interest rate risk,
currency risk and other price risk, such as equity price risk and commodity risk. Financial instruments
affected by market risk include loans and borrowings, deposits.

a. Foreign exchange risk

The Company is subject to the risk that changes in foreign currency values impact the Company’s
export revenues and imports of raw material and property, plant and equipment. The net
unhedged exposure to the Company on holding financial assets (Trade Receivables and capital
advances) and liabilities (trade payables and capital creditors) other than in their functional
currency amounted to Rs.16.39 Crores.

The Company is exposed to foreign exchange risk arising from various currency exposures,
primarily with respect to US Dollar and Euro and Yen. The Company manages currency exposures
within prescribed limits.

Foreign exchange transactions are covered with strict limits placed on the amount of uncovered
exposure, if any, at any point in time. The aim of the Company’s approach to management of
currency risk is to leave the company with no material residual risk.

b. Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will
fluctuate because of changes in market interest rates.

The Company is not exposed to any significant /material interest rate risk.

ii. Credit risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or
customer

Leading to a financial loss. The company is exposed to credit risk from its operating activities (primarily
trade receivables) and from its financing activities including deposits with banks, financial institutions,
foreign exchange transactions and other financial instruments.

Credit risk is managed by company’s established policy, procedures and control relating to customer
credit risk management. Credit risk has always been managed by the Company through credit approvals,
establishing credit limits and continuously monitoring the credit worthiness of customers to which the
Company grants credit terms in the normal course of business.

iii. Liquidity risk

Liquidity risk is the risk that the Company, will face in meeting its obligations associated with its
financial liabilities. The Company’s approach in managing liquidity is to ensure that it will have
sufficient funds to meet its liabilities when due without incurring unacceptable losses. In doing this,
management considers both normal and stressed conditions.

The Company maintained a cautious liquidity strategy, with a positive cash balance throughout the
year ended 31-03-2025 and 31-03-2024.

Cash Flow from operating activities provides the funds to service the financial liabilities on a day to
day basis.

The Company regularly monitors the rolling forecasts to ensure it has sufficient cash on an ongoing
basis to meet its operational needs. Any short-term surplus cash generated, over and above the amount
required for working capital management and other operational requirements is retained as cash and
cash equivalent (to the extent required) and any excess is invested in interest bearing term deposits
to optimize the cash return on investments while ensuring sufficient liquidity to meets is liabilities.

iv. Fair value hierarchy

The Company uses the following hierarchy for determining and or disclosing the fair value of financial
instruments by valuation techniques:

The following is the basis of categorizing the financial instruments measured at fair value into Level
1 to Level 3.

Level 1 - This level includes financial assets that are measured by reference to quoted prices
(unadjusted) in active markets for identical assets or liabilities.

Level 2 - This level includes financial assets and liabilities, measured using inputs other than quoted
prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as
prices) or indirectly (i.e. derived from prices).

Level 3 - This level includes financial assets and liabilities, measured using inputs that are not based
on observable market data (unobservable inputs). Fair values are determined in whole or in part, using
a valuation model based on assumptions that are neither supported by prices from observable current
market transactions in the same instrument nor are they based on available market data.

Fair value hierarchy of assets and liabilities measured at fair value on a recurring basis as of March 31,
2025. The Company uses Level 2 for determining and or disclosing the fair value of financial instrument.

23. TAXES AND INCOME

a) Current tax: Provision for Income Tax is determined in accordance with the provisions of Income Tax
Act, 1961.

b) Taxable temporary differences will always lead to Deferred Tax Liability.

c) The timing deference on account of depreciation charged on the assets as per the companies act and
as per the Income Tax Act has been provided. The net Deferred Tax Asset considered for the current
year was (Rs 16.67 lakhs). Previous year we have recognised the net deferred tax Asset of Rs. Lakhs

24. Contingent Liabilities not provided for

Disputed amount of Rs.22.47 lakhs towards A.P tax on entry of goods for the assessment year 2002-03 is
pending which we have already paid an amount of Rs. 3.21 lakhs the case did not come for any hearing
further.

Disputed amount of Rs.48.85 lakhs towards Entry Tax for the periods 2011-12 to 2016-17 is pending with The
Telangana VAT Appellate Tribunal against which we have already paid an amount of Rs.24.42 lakhs the case
did not come for any hearing further.

33. The obligation under EPCG concessional duty scheme on account Capital Equipment’s imports is Nil.

34. The company had not accepted any deposits from public nor solicited any as per Companies Act Deposit
rules 2013. The company had taken security deposits from our dealers of our products and paying interest
at @9%. The deposits are repayable at the closure of the dealership only.

35. Figures for the previous year has been regrouped/reclassified wherever necessary to be conformity with the
current year format of IND AS SCHEDULE - III to the Companies Act.

This is the form of Balance Sheet referred to in our Report on Even Date
In terms of our report attached For and on behalf of the Board of Directors

Sd/- Sd/- Sd/-

MVN MURTHY SARIPALLI KISHORE SARIPALLI KARUNAKAR

CHARTERED ACCOUNTANT WHOLE TIME DIRECTOR CHAIRMAN CUM MANAGING DIRECTOR

(MEMBERSHIP NO: 201445) (DIN:01665768) (DIN: 01665760)

Sd/- Sd/-

PLACE: HYDERABAD B. VENKATESHAM DINKER MISHRA

DATE: 29TH MAY 2025 CHIEF FINANCIAL OFFICER COMPANY SECRETARY

(MEMBERSHIP NO: ACS48511)

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Mar 31, 2024

Contingent Liabilities not provided for

Disputed amount of Rs.22.47 lakhs towards A.P Tax on entry of goods for the assessment year 2002-03 is pending which we have already paid an amount of Rs. 3.21 lakhs the case did not come for any hearing further.

Disputed amount of Rs.48.85 lakhs towards Entry Tax for the periods 2011-12 to 2016-17 is pending with The Telangana VAT Appellate Tribunal against which we have already paid an amount of Rs.24.42 lakhs the case did not come for any hearing further.

Details under Micro Small and Medium Enterprises Development Act SUNDRY CREDITORS

Disclosure under the Micro and Small Enterprises Development Act, 2006. Amount Due to Micro and Small Enterprises are disclosed on the basis of information company regarding available with the status of the supplier is as follows:

34. The obligation under EPCG concessional duty scheme on account of import of Capital Equipment amounting to Nil.

35. The company had not accepted any deposits from public nor solicited any as per companies act deposit rules 2013. The company had taken security deposits from our dealers of our products and paying interest at @9%. The deposits are repayable at the closure of the dealership only.

36. Figures for the previous year has been regrouped/reclassified wherever necessary to be conformity with the current year format of IND AS SCHEDULE - III to the Companies Act.

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Mar 31, 2018

1. Contingent Liabilities not provided for

Disputed amount of Rs.22.47 Lakhs towards A.P Tax on Entry of goods for the assessment year 2002-03 is pending with the ADC (CT) Punjagutta division, Hyderabad against which we have already paid an amount of Rs. 3.21 Lakhs the case did not come for any hearing further.

2 Details under Micro and Small Enterprises Development Act SUNDRY CREDITORS

Disclosure under the Micro and Small Enterprises Development Act, 2006. Amount Due to Micro and Small Enterprises are disclosed on the basis of information company regarding available with the status of the supplier is as follows

3 Amount of Exchange difference as per Ind AS -21 Accounting for the effects of changes in Foreign Exchange rates included in the finance cost was Rs. 11.72 lakhs ( previous year Rs.16.10 lakhs)

4 Expenditure in Foreign Currency Travelling

5 Earnings in Foreign Currency ( on receipts basis )

6 Segment reporting under Indian Accounting Standard - 108

The Company operates in singal primary business segment namely manufacture of Automobile Components -Piston Assemblies, hence no separate disclosure is required.

7 Related Party Disclosures as per Ind AS -24

*Mrs. S Saraswathi is a major partner and she is related to Director of the company and hence the transaction with Gopal Engineering Co., is reported under related party transaction.

The Company had taken on lease of properties from the Directors of the Company and relatives of the Directors of the company for the staff at factory, Visakhapatnam and at Hyderabad and office at Visakhapatnam

8 The Company had already transferred balance funds in Un-paid Dividend account to Investors Education Fund amounting to Rs. 2.31 Lakhs . The amount was deposited on Aprl 2018 after a delay of six months

The Cost of Raw Material does not include the Power and Fuel and Transportation.

9 The obligation under EPCG concessional duty scheme on account of capital Equipments imports amounting to Rs.2097.70 Lakhs (previous year Rs.1394.46 lakhs)

10 The Company had not accepted any deposits from public nor solicited any as per Companies Act deposit rules 2013. The company had taken security deposits from our dealers of our products and paying interset @9%. The deposits are repayable at the closure of the dealership only.

11 PROPERTY, PLANT AND EQUIPMENT

Property, Plant and Equipment is stated at acquisition cost net of accumulated depreciation and accumulated impairment losses if any, subsequent costs are included in the assets carrying amount or recognised as a separate asset, as appropriate only when it is probable that future economic benefits associated with the item will flow to the company and cost of the item can be measured reliably.

All other repairs and maintainance are charged to the statement of prfoit and loss during the period in which they are incurred. Gains and losses arising on retirement or disposal of property,plant and equipment are recognised in statement of profit and loss.

Property, plant and equipment which are not ready for intended use as on the date of balance sheet are disclosed as Capital work in progress

Depreciation is provided on a prorata basis on the straight line method based on estimated useful life prescribed under Schedule II to the Companies Act, 2013

Upon First time adoption of Ind AS, the Company has elected to measure all its property,plant and equipment at the Previous GAAP carrying amount as its deemed cost on the date of transition to Ind AS i.e 1st April, 2016

12 FIRST TIME ADOPTION OF Ind AS

The Company has adopted Indian Accounting Standards(Ind AS) as notified by the Ministry of Corporate Affairs with effect from 1st April, 2015, with a transition date of 1st April, 2016 these financial statements for the year ended 31st March, 2018 are the first financial statements the company prepared under Ind AS for all periods up to and including the year ended 31st March, 2017, the company prepared its financial statements in accordance with the accounting standards notified under section 133 of the companies act, 2013, read together paragraph 7 of the companies (accounts) rules, 2014 (previous GAAP)

The adoption of Ind AS has been carried out in accordance with Ind AS 101, First Time adoption of Indian Accounting Ind AS 101 requires that all Ind AS standards and interpretations that are issued and effective for the fist Ind AS financial statements be applied retrospectively and consistently for all financial years presented accordingly the company has prepared financial statements which comply with Ind AS for year ended 31st March, 2018, together with comparative information as at and for the year 31st March, 2017 and the opening Ind AS balance sheet as at 1st April, 2016, the date of transition to Ind AS in preparing these Ind AS financial statements, the company has availed certain exemptions and exceptions in accordance with Ind AS 101

OPTIONAL EXEMPTIONS FROM RETROSPCTIVE APPLICATION

Deemed cost for Property, Plant and Equipment and Intangible Assets, the Company has elected to measure all its property, plant and equipment and intangible assets at the previous GAAP carrying amount as its deemed cost on the date of transition to Ind AS mandatory exceptions from retrospective application,

The Company has applied the following exceptions to the retrospective application of Ind AS as mandatorily, required under Ind AS 101:

i) ESTIMATES

On assessment of the estimates made under previous GAAP Financial Statements, the Company has concluded that there is no necessity to revise the estimates under Ind AS, as there is no objective evidence of an error in those estimates. However estimates that were required under Ind AS but not required under previous GAAP are made by the company for the relevant reporting dates reflecting conditions existing at that date.

ii) CLASSIFICATION AND MEASUREMENT OF FINANCIAL ASSETS

The classification of Financial Asset to be measured at amortised cost or fair value through other comprehensive income is made on the basis of the facts and circumstances that existed on the date of transition to Ind AS

13 Figures for the previous year has been regrouped/reclassified wherever necessary to be confirmity with the current year format of Ind AS SCHEDULE - III to the Companies Act.

14 Signature to Schedule 1 to 4 and 5(1) to 5(34)

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Mar 31, 2015

NOTE-1

SHORT TERM BORROWINGS

Working capital loan with SBI is secured by hypothecation of all current assets including book debts on first charge basis and second charge on all fixed assets and immovable Properties of the Company.

The work-in-progress represents only part of the regular product that were under production and not covered for any reservation for waranty claims.

The finished goods were valued at lower of the cost of sale or realisable value.

The cost does not include excise duty component.

The excise duty is neither considered for opening stock nor closing stock. This method was followed consistantly by the company. The raw materials including trade goods Stores and spares were valued at cost to the unit.

NOTE-2

DEPRECIATION AND AMORTIZATION EXPENSES

The total depreciation provided for the current financial year was 11.57 crores. The depreciation was provided on straight line basis on the assets that were put to use and calculated according to the period of use the depreciation on assets whose value had reached 95% of the asset value were not considered for depreciation.

NOTE: 3

The Extraordinary Item Represents the Provision Made for Corporate Social Responsibility for an Amount of Rs. 21.46 Lacs. Please Refer Corporate Social Responsibility Report by the Board of Directors.

4. Other Information:

1. Retirement Benefits

A) The Company's Contribution to Provident Fund is Administered through Regional Provident Fund Commissioner and being Charaged to Revenue as incurred.

B) Leave Encashment is Accounted for on Cash basis of the actual payments made.

2. Taxes And Income

A) Current Tax: Provision for Income Tax is determined in accordanace with the provisions of income Tax Act 1961.

B) Defered Tax Provision: Defered Tax is Recognized on Timing Differences Being the Differences Between Taxable Incomes and Accounting Income that Originate in one period and are capable of Reversal in one or more subsequent period(s). Provision had been made on the account of above as there exist deferment assets.

C) The timing deference on account of depreciation charged on the assets as per the Companies Act and as per the Income Tax Act has been provided. The net defered tax liability over the defered tax assets was Rs. 37.86 Lacs and considered for the current year was Rs. 37.86 Lacs (Previous year Rs. 34.57 Lacs).

Contingent Liabilities Not Provided For

Disputed Amount of Rs. 25.68 Lacs towards A.P. Tax on Entry of Goods for the Assessment Year 2002- 03 is pending with the ADC (CT) Punjagutta Division, Hyderabad against which we have already Paid an amount of Rs. 3.21 Lacs the case did not come for any hearing further.

3. Details Under MASA

4. Amount of exchange difference as per AS -11 accounting for the effects of changes in Foreign Exchange rates included in the finance cost was Rs. 90.26 Lacs (Previous year Rs. 99.48 Lacs)

5. Estimated amount of contracts remaining to be executed on capital account is Rs. 200.00 Lacs (Previous year Rs. 63.76 Lacs) against which advances has been paid Rs. 3.40 Lacs (Previous year Rs. 7.18 Lacs)

6. Segment Reporting Under Accounting Standard - 17

The Comlpany Operates in Singal Primary Business Segment Namely Manufacture of Auto Components - Piston Assemblies, hence no separate Disclosure is Required.

7. The Company had already Transfered Balance Funds In Un-Paid Dividend Account to Investors Education Fund Amount to Rs. 2.57 Lacs. The Amount was Deposited on Jan 2015 after a Delay of Three Months for the year 2006-07.

8. The Obligation Under EPCG Concessional Duty Scheme on Account Capital Equipments Imports Amounting To Amounting To Rs. 527.82 Lacs (Previous Year 183.29 Lacs)

9. The Company had not accepted any Deposits from public nor solicited any as per Companies Act Deposit Rules 2013.

The Company had taken Security Deposits from our Dealers of our Products and Paying Interset at @9%. The Deposits are Repayable at the Closure of the Dealership only.

10. The Company Proposes to Declare a Dividend of Rs. 3.00 Per Shares on a Face Value of Rs. 10/- Per Share and the Total Amount Works Out to Rs. 294.62 Lacs.

11. Figures for the Previous Year has been regrouped/reclassified wherever necessary to be confirmity with the current year format of revised Schedule VI.

12. The figures are rounded off to the nearest rupee.

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Mar 31, 2014

INTEREST FREE SALES TAX LOAN IS REPAYABLE AS FOLLOWS:

1. Plant-1 A-Second Deferment Repayable in 14 Years Commenced from April 2012.

2. Plant-II-First Deferment Repayable in 10 Years Commenced from 2004 and Second Deferment from April 2015

3. Plant-III-Repayable in 14 Years Commenced from April 2011.

an Amount of Rs. 164.60 Lacs represents repayable in the next 12 Months had been shown under Current Liablities Gratuity in respect of past and present services of employees is being accounted for on accrual basis based on actuarial valuation done by the company. The payment of gratuity to the employees who had left the service had been adjusted against the provision made. The provision of gratuity has been computed as on the date of closure of accounts by reducing the provision made in the earlier years.

The work in progress represents only part of the regular product that were under production and not covered for any reservation of warrnty claims.

The finished goods were valued at cost which does not include excise duty component. The excise duty is neither con- sidered for opening stock nor closing stock.

This method was followed consistantly by the company.

The Raw Materails including packing material, stores and spares were valued at cost to the unit.

NOTE-1

The exceptional item represents the excess provision made in the earlier years with regards to deferment of sales tax. This is on the basis of the assessment completed for the assessment years 2005-06 to 2009-10.

4. OTHER INFORMATION:

1. Retirement Benefits

a) The Company''s contribution to Provident Fund is administered through Regional Provident Fund Commissioner and being charged to revenue as incurred.

b) Leave encashment is accounted for on cash basis on the basis of the actual payments made.

2. Taxes on Income

a) Current Tax: Provision for Income Tax is determined in accordance with the provisions of Income Tax Act. 1961.

b) Deferred Tax Provision: Deferred Tax is recognized on timing differences being the differences between taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent period(s). Provision had been made on the account of above as there exist deferment assets.

c) The timing deference on account of Depreciation charged on the Assets as per the Companies Act and as per the Income Tax Act has been provided. The net deferred tax liability over the Deferred Tax Assets was Rs. 166.57 lacs and considered for the current year was Rs. 34.57 lacs.

5 Contingent liabilities not provided for

Disputed amount of Rs. 25.68 lacs towards A.P. Tax on Entry of goods for the assessment year 2002-03 is pending with the ADC (CT) Punjagutta Division, Hyderabad against which we have already paid an amount of Rs. 3.21 Lacs. The case did not come for any hearing further.

6. Amount of exchange difference as per AS-11 accounting for the effects of changes in Foreign Exchange rates included in the finance cost was Rs. (-)99.48 lacs. (Previous year Rs. 220.05 lacs)

7. Estimated amount of contracts remaining to be executed on capital account is Rs. 63.76 lacs (Previous year Rs. 60.67 Lacs) against which advances have been paid Rs. 7.18 lacs (Previous Year Rs. NIL lacs.)

8. Segment reporting under Accounting Standard-17

The Company operates in single primary business segment namely manufacture of Auto Components - Piston Assemblies, hence no separate disclosure is required.

9. Related Party Disclosures:

The disclosure pertaining to the related party transactions as required by the Accounting Standards (As-18) issued by the Institute of Chartered Accountants of India, as applicable are indicated below:

10. The company is taking steps to transfer balance funds in un-paid dividend account to investors Amounting to Rs. NIL

11. The obligation under EPCG concessional duty scheme on account capital Equipments imports amounting to Rs. 183.29 LACS (Previous Year Rs. 183.29 lacs)

12. The company proposes to declare a dividend of Rs. 2.50 per share on a face value of Rs. 10/- per share and the total amount works out to Rs. 245.51 lacs

13. Figures for the previous year has been regrouped/reclassified wherever necessary to be Conformity with the current year format of Revised Schedule VI

14. The figures are rounded off to the nearest rupee

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Mar 31, 2013

1. Foreign Currency Transactions

a) Other income includes the following items i) Sale of DEPB Licenses Rs. 42.95 lacs.

2. Retirement Benefits

a) The Company''s contribution to Provident Fund is administered through Regional Provident Fund Commissioner and being charged to revenue as incurred.

b) Gratuity in respect of past and present services of employees is being accounted for on accrual basis based on actuarial valuation done by the company. The payment of Gratuity to the employees who had left the service had been adjusted against the provision made. The provision of gratuity has been computed as on the date of closure of accounts by reducing the provision made in the earlier years.

c) Leave encashment is accounted for on cash basis on the basis of the actual payments made.

3. Taxes on Income

a) Current Tax: Provision for Income Tax is determined in accordance with the provisions of Income Tax Act. 1961.

b) Deferred Tax Provision: Deferred Tax is recognized on timing differences being the differences between taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent period(s). Provision had been made on the account of above as there exist deferment assets.

c) The timing deference on account of Depreciation charged on the Assets as per the Companies Act and as per the Income Tax Act has been provided. The Net Deferred Tax liability over the Deferred Tax Assets was Rs. 132.00 lacs was considered for the current year as Rs. 132.00 lacs.

4. Contingent liabilities not provided for

Disputed amount of Rs. 25.68 lacs towards A.P. Tax on Entry of goods for the assessment year 2002-03 is pending with the ADC (CT) Punjagutta Division, Hyderabad against which we have already paid an amount of Rs. 3.21 Lacs. The case did not come for any hearing further.

5. DETAILS UNDER MASA SUNDRY CREDITORS

Disclosure under the Micro and Small Enterprises Development Act, 2006.

Amount due to Micro and Small Enterprises are disclosed on the basis of information company regarding available with the status of the suppliers is as follows.

6. Amount of exchange difference as per AS-11 accounting for the effects of changes in Foreign Exchange rates included in the finance cost account of Rs. 220.05 lacs (Previous year Rs. 31.50 lacs).

7. Estimated amount of contracts remaining to be executed on capital account is Rs. 60.67 lacs (Previous year Rs. 182.43 lacs) against which advances have been paid Rs. 5.05 lacs (Previous Year Rs. NIL lacs.)

8. Segment reporting under Accounting Standard-17

The Company operates in single primary business segment namely manufacture of Auto Components - Piston Assemblies, hence no separate disclosure is required.

9. Related Party Disclosures

The disclosure pertaining to the related party transactions as required by the Accounting Standards (As-18) issued by the Institute of Chartered Accountants of India, as applicable are indicated below:

The Company had taken on lease of properties from the Directors of the company & Relative of the Directors of the company for the staff at factory, Visakhapatnam and at Hyderabad.

The interest paid to Directors for an amount of Rs. 94,42,810/- and relative of Directors Rs. 1,14,75,000/- .

10. The company is taking steps to transfer balance funds in un-paid dividend account to investors Amounting to Rs. NIL/-

11. The company proposes to declare a dividend of Rs. 2.50 per shares on a face value of Rs. 10/- per share and the total amount works out to Rs. 245.51 lacs

12. Figures for the previous year has been regrouped/reclassified wherever necessary to be conformity with the current year revised format of schedule VI.

13. The figures are rounded off to the nearest rupee

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Mar 31, 2012

1. Foreign Currency Transactions

a) Other income includes the following items i) Sale of DEPB Licenses Rs.67.42 lacs.

2. Retirement Benefits

a) The Company's contribution to Provident Fund is administered through Regional Provident Fund Commissioner and being charged to revenue as incurred.

b) Gratuity in respect of past and present services of employees is being accounted for on accrual basis based on actuarial valuation done by the company. The payment of Gratuity to the employees who had left the service had been adjusted against the provision made. The provision of gratuity has been computed as on the date of closure of accounts by reducing the provision made in the earlier years.

c) Leave encashment is accounted for on cash basis on the basis of the actual payments made.

3. Taxes on Income

a) Current Tax: Provision for Income Tax is determined in accordance with the provisions of Income Tax Act. 1961.

b) Deferred Tax Provision: Deferred Tax is recognized on timing differences being the differences between taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent period(s). Provision had been made on the account of above as there exist deferment assets.

c) The timing deference on account of Depreciation charged on the Assets as per the Companies Act and as per the Income Tax Act has been provided. The net deferred tax liability over the Deferred Tax Assets was Rs. 106.00 lacs was considered for the current year as Rs.106.00 lacs.

4. Contingent liabilities not provided for

a) Disputed amount of Rs.25.68 lacs towards A.P. Tax on Entry of goods for the assessment year 2002- 03 is pending with the ADC (CT) Punjagutta Division, Hyderabad against which we have already paid an amount of Rs. 3.21 Lacs.

5. DETAILS UNDER MASA

SUNDRY CREDITORS

Disclosure under the Micro and Small Enterprises Development Act, 2006.

Amount due to Micro and Small Enterprises are disclosed on the basis of information company regarding available with the status of the suppliers is as follows.

6. Amount of exchange difference as per AS-11 accounting for the effects of changes in Foreign Exchange rat®es included in the finance cost account of Rs.31.50 lacs (Previous year Rs 17.85lacs)

7. Estimated amount of contracts remaining to be executed on capital account is Rs.182.43 lacs (Previous year Rs.124.65 Lacs ) against which advances have been paid Rs. NIL lacs (Previous Year Rs. 53.95 lacs.)

8. Segment reporting under Accounting Standard-17

The Company operates in single primary business segment namely manufacture of Auto Components - Piston Assemblies, hence no separate disclosure is required.

The Company had taken on lease of properties from the Directors of the company & Relative of the Directors of the company for the staff at factory, Visakhapatnam and at Hyderabad.

The interest paid to Directors for an amount of Rs.70,33,006/- and relative of Directors Rs.57,50,548/-

9. The company is taking steps to transfer balance funds in un-paid dividend account to investors amounting to Rs.3,06,932/-

10. The Company Proposes to declare a Dividend of Rs 3.50 Per Shares on a Face Value of Rs10/- Per Share and The Total Amount Works out to Rs 343.72 Lacs

11. Figures for the previous year has been regrouped/reclassified wherever necessary to be conformity with the current year revised format of schedule VI.

12. The figures are rounded off to the nearest rupee

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Mar 31, 2011

1. Interest free sales tax deferred loan is repayable as

a) Plant - I a) First Deferment completed in the year 2003, b) Second deferment Repayable in 14 years commences from April 2012

b) Plant - II First Deferment repayable in 10 years commences from April 2004 and second deferment April 2015

c) Plant - III repayable in 14 years commences from April 2011

2. Contingent liabilities not provided for

a) Disputed amount of Rs.25.68 lacs towards A.P. Tax on Entry of goods for the assessment year 2002-03 is pending with the ADC (CT) Punjagutta Division, Hyderabad against which we have already paid an amount of Rs. 3.21 Lacs.

b) Customs Duty liability on Imports under EPCG Scheme pending fulfillment of Export obligations of Rs.576.20 lacs is Rs. 109.63 lacs

3. Amount of exchange difference as per AS-11 accounting for the effects of changes in Foreign Exchange rates included in the other income account of Rs. 0.17 lacs. (Previous year Rs.8.83 lacs)

4. Estimated amount of contracts remaining to be executed on capital account is Rs. 124.65 lacs (Previous year Rs.91.07 Lacs) against which advances have been paid Rs.53.95 lacs (Previous Year Rs. 19.86 lacs.)

5. Unsecured Loan comprise of loan from Directors and their relatives - Rs.445.00 lakhs (Previous year Rs.800.00 lakhs)

6. The Company had taken on tease from the Directors of the company viz., Shri. S.Karunakar and Sri. S. Kishore, for the Branch office at Vizag, Staff Quarters at the factory and residence for the Directors. The rent paid is commensurate on the prevailing rate applicable at the relevant time.

7. Segment reporting under Accounting Standard-17

The Company operates in single primary business segment namely manufacture of Auto Components - Piston Assemblies, Hence no separate disclosure is required.

8. Related Party Disclosures:

c). Transactions with Executive Directors consists of remuneration as detailed in Note 7 of Schedule 20 and rent paid to the house taken on lease.

9. The company is taking steps to transfer balance funds in un-paid dividend account to Investors Education Protection Fund.

10. Figures for the previous year has been regrouped/reclassified wherever necessary to be conformity with the current year.

11. Figures are rounded off to the nearest rupee.

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Mar 31, 2010

1. Interest free sales tax deferred loan is repayable as

a) Plant - I a) First Deferment completed in the year 2003, b) Second deferment Repayable in 14 years commences from April 2012

b) Plant - II First Deferment repayable in 10 years commences from April 2004 and second deferment April 2015

c) Plant - III repayable in 14 years commences from April 2011

2. Contingent liabilities not provided for

a) Disputed amount of Rs.25.68 lacs towards A.P. Tax on Entry of goods for the assessment year 2002-03 is pending with the ADC (CT) Punjagutta Division, Hyderabad against which we have already paid an amount of Rs. 3.21 Lacs.

b) Customs Duty liability on Imports under EPCG Scheme pending fulfillment of Export obligations of Rs.67.07 lacs is Rs. 8.38 lacs

3. SUNDRY CREDITORS

Disclosure under the Micro and Small Enterprises Development Act, 2006.

4. / Amount of exchange difference as per AS-11 accounting for the effects of changes in Foreign Exchange rates

included in the other income account of Rs. 8.83 lacs. (Previous year Rs.101.80 lacs)

5. Estimated amount of contracts remaining to be executed on capital account is Rs.91.07 lacs (Previous year Rs.119.31 Lacs) against which advances have been paid RS.19.86 lacs (Previous Year Rs. 62.96 lacs.)

6. The Company had taken on lease from the Directors of the company viz., Shri.S.D.M. Rao, Shri. S.Karunakar and Sri. S. Kishore, for the Branch office at Vizag, Staff Quarters at the factory and residence for the Directors. The rent paid is commensurate on the prevailing rate applicable at the relevant time.

7. Segment reporting under Accounting Standard-17

The Company operates in single primary business segment namely manufacture of Auto Components - Piston Assemblies, Hence no separate disclosure is required.

8. The Company is taking steps to transfer balance funds in un-paid dividend account to Investors Education and Protection fund.

9. Related Party Disclosures:

The disclosure pertaining to the related party transactions as required by the Accounting Standards (As -18) issued by the Institute of Chartered Accountants of India, as applicable are indicated below:

c) Transactions with Executive Directors consists of remuneration as detailed in Note 7 of Schedule20

10. Figures for the previous year has been regrouped/reclassified wherever necessary to be conformity with the current year.

11. Figures are rounded off to the nearest rupee.