NANDAN DENIM Notes to Accounts

1. The Company has imported certain capital equipments at concessional rate of custom duty under "Export Promotion of Capital Goods Scheme". The company has pending export obligation to the extent of Rs, 178,077,894/- (Previous year Rs, Nil/-) to be fulfilled during the specified period. The liability towards custom duty payable thereon in respect of unfulfilled export obligation as on 31st March, 2016 is Rs, 29,679,649/- (Previous Year Rs, Nil).


2. In accordance with Companies (Accounting Standards) Amendment Rules,2009 the company has exercised the option of adjusting exchange difference arising on reporting of long term foreign currency monetary item related to acquisition of depreciable capital assets in the cost of the assets to be depreciated over the balance life of the assets.


Exchange difference Loss relating to long-term monetary item, in so far related to acquisition of depreciable capital asset, adjusted to the Fixed Assets and amount of Rs, 2,735,621/- (P.Y. Rs, 2,057,706/-) arising during the current year are adjusted to the cost of the fixed assets and depreciated over the balance life of the fixed assets.


3. Net Foreign Exchange Gain of Rs, 20,539,778/- (Previous Year Gain of Rs, 16,318,059/-) in respect of Exports included in Other Expenses. Net Foreign exchange loss amounting to Rs, 62,864,646/- (Previous Year Gain of Rs, 70,806,244/-) in respect of various other items is included in Other Expenses.


4. Fuel Cost is net of Fuel Income of Rs, 57,301,537/- (P.Y. Rs, . 36,999,504/-).


5. Employee Cost is net of Labour reimbursement of Rs, 22,178,000/- (P.Y. Rs, 32,700,000/-).


6. In the opinion of the Board of Directors, Current Assets, Loans and Advances have a value on realization at least equal to the amount at which they are stated in Balance sheet. Adequate provisions have been made for all known liabilities except stated otherwise.


7. Balances of Debtors, Creditors, Loans and Advances etc. are subject to confirmation and reconciliation.


8. The Company has entered into certain operating lease agreements and an amount of Rs, 12,604,956/- (P.Y. Rs, 7,903,985/-) paid under such agreements has been charged to the statement of Profit & Loss. These lease are generally not non-cancellable and are renewable by mutual consent on mutually agreed terms. There are no restrictions imposed by such agreements.


9. Borrowing costs attributable to the acquisition or construction of Qualifying Assets amounting to Rs, 24,482,414/- (Previous Year Rs, 38,572,591/-) is capitalized by the company net of TUFS interest subsidy Rs, Nil (Previous Year Rs, Nil).


10. During the year, the company has impaired the assets to the tune of Rs, Nil (Previous Year Rs, Nil).


11. Interest and Finance Charges are net of interest subsidy received/receivable under TUFS scheme amounting to Rs, 110,523,164/- (Previous year Rs, 113,258,046/-) and Interest Subvention of Rs, 9,919,222/- (Previous Year Rs, Nil).


12. The figures of the previous year have been regrouped and rearranged wherever considered necessary.

CIN: U67190WB2003PTC096617. Trading in Commodities is done through our Group Company Dynamic Commodities Pvt. Ltd. The company is also engaged in Proprietory Trading apart from Client Business.
“2019 © COPYRIGHT DYNAMIC EQUITIES PVT. LTD.”

Disclaimer: There is no guarantee of profits or no exceptions from losses. The investment advice provided are solely the personal views of the research team. You are advised to rely on your own judgment while making investment / Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. You should read and understand the Risk Disclosure Documents before trading/Investing.

Disclosure: We, Dynamic Equities Private Limited are also engaged in Proprietory Trading apart from Client Business. In case of any complaints/grievances, clients may write to us at compliance@dynamiclevels.com

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