SHREYANS INDUSTRIES Notes to Accounts

1. Terms/ rights attached to equity shares


The company presently has one class of equity shares having par value of F 10/- each. Each holder of equity shares is entitled to one vote per share. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting and entitlement to dividend to an equity shareholder shall arise after such approval.


In the event of liquidation of the company, the holders of equity shares will be entitled to receive any part of the remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholder.


The rate of dividend on preference shares will be decided by the Board of directors as and when issued. Preferential shares as and when issued shall have the cumulative right to receive dividend as and when declared and shall have preferential right of repayment of amount of capital.


The Board has recommended a Dividend of 12% (Previous year 12 %) (F 1.20 per equity share of F 10/-) for the financial year ended March 31, 2016 subject to the approval of the Shareholders in the ensuing Annual General Meeting. The aggregate amount of Proposed dividend is F 165.89 Lac and F 33.77 Lac towards Tax on dividend distribution.


2. Detail of Shares held by holding company/ ultimate holding company their subsidiaries and associates


There is no holding /ultimate holding company of the company and therefore no subsidiary/associate of holding / ultimate holding company.


3. Details of security of loans repayable on demand (secured)


4. Secured loans repayable on demand from banks for working capital (Rs. 1645.09 lac, previous year Rs. 2142.10 lac ) are secured by hypothecation of stocks of raw materials, finished goods, bills receivables, book debts and all other movable assets of the company and further secured by way of second charge on the immovable assets situated at village Banah and at Ahmedgarh and also personally guaranteed by the two promoter directors of the company.


5. Secured loans repayable on demand from banks against overdraft limit (Rs. 273.29 lac, previous year F 395.37 lac) are secured by lien on current investments.


6.Terms of repayment of short term borrowings


7. Working capital borrowings from banks are repayable on demand and carry interest up to 2.50% over base rate (Previous year 2.80% over base rate).


8. Unsecured loans from related parties repayable within one year carry interest up to 11% p.a (Previous year up to 11% p.a).


9. Unsecured loans from public repayable within one year carry interest up to 11% p.a (Previous year up to 11% p.a).


10. The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in employment market.


11. The financial assumptions considered for the calculations are as under:-


Discount Rate: The discount rate has been chosen by reference to market yield on government bonds as on date of valuation.


Expected Rate of Return: In case of gratuity, the actual return has been taken.


Salary Increase: On the basis of past data provided by the company.


12. Short term employee’s benefits:


13. The plan assets are maintained with Life Insurance Corporation of India (LIC). The detail of investments maintained by LIC have not been furnished to the Company. The same have therefore not been disclosed.


14. The Company has contributed Rs. 3.00 lac (previous year Rs. 4.50 lac) towards CSR activities to Shri Darshan Kumar Oswal Public Charitable Trust and Rs. 1.50 lac to Shri Parasnath Charitable Trust in which Directors and Relatives of Directors are Managing Trustees.


15. The related party relationship is as identified by the Company and relied upon by the auditors.


16. Corporate Social Responsibility


In accordance with the provisions of Section 135 of the Companies Act 2013, the Company has contributed a sum of rs. 35.72 lac (previous year Rs. 20.03 lac ) towards approved CSR activities. The said amount stands debited under the head “CSR Activities” under the head “Other Expenses”


17. The figures in brackets represent deductions.


18. The information required by the paragraph 5 of general instructions for preparation of the Statement of Profit and Loss as per Schedule III of the Companies Act, 2013 :


19. Previous year’s figures have been regrouped/restated wherever necessary to confirm to its classification of the current year.


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

  • Download our Mobile App
  • Available on Google Play
  • Available on App Store
  • RSS