3.2 Terms/Right attached to Equity Shares
The Company has only one class of equity shares having a par value of '10/- per share. Each holder of equity shares is entitled to one vote per share . The company declares and pays dividend in Indian rupees. In the event of liquidation of the company , the holders of the equity shares will be entitled to receive remaining assets of the company after distribution of all preferential amount. The distribution will be in proportion of the number of equity shares held by the shareholders.
A. Vehicle Loan of Rs. 54.00 Lakhs (Outstanding Balance Rs. 9.48 Lakhs) from Daimler Financial Services is secured by hypothecation of said Vehicle. Loan is repayable under 60 Monthly Installments.
B. Loan of Rs. 264.00 Lakhs (Outstanding Balance Rs. 36.70 Lakhs) from ICICI Bank is secured by second Pari-Passu charge on the Fixed & Current Assets of the company is repayable under 36 Monthly Installments.
C. Loan of Rs. 144.00 Lakhs (Outstanding Balance Rs. 4.50 Lakhs) from State Bank of India is secured by second Pari-Passu charge on the Fixed & Current Assets of the company is repayable under 36 Monthly Installments.
D. Loan of Rs. 73.84 Lakhs (Outstanding Balance Rs. 64.15 Lakhs) from State Bank of India is secured by second Pari-Passu charge on the Fixed & Current Assets of the company is repayable under 36 Monthly Installments.
E. Loan of Rs. 119 Lakhs (Outstanding Balance Rs. 119 Lakhs) from ICICI Bank is secured by second Pari-Passu charge on the Fixed & Current Assets of the company is repayable under 36 Monthly Installments.
F. Vehicle Loan of Rs. 22.06 Lakhs (Outstanding Balance Rs. 13.13 Lakhs) from HDFC Bank is secured by hypothecation of said vehicle finaced is repayable under 39 Monthly Installments.
G. Loan of Rs. 556 Lakhs (Outstanding Balance Rs. 556 Lakhs) from HDFC Bank is secured by second Pari-Passu charge on the Fixed & Current Assets of the company is repayable under 36 Monthly Installments.
(a) Both the loans are Secured by First charge on stocks, debtors and other currents assets and second charge on the fixed assets of the company and personal guarantee of the directors.
Note: Dues to micro and small enterprises pursuant to section 22 of the Micro, Small and Medium Enterprises Development Act (MSMED), 2006
On the basis of confirmation to the extent received from suppliers who have registered themselves under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act, 2006) and based on the information available with the Company, the following are the details:
NOTE 38 : Defined benefit plans- gratuity
The Company has defined benefit gratuity plan. Every employee who has completed five or more of service gets a gratuity on post employment at 15 days salary ( Last drawn salary) for each completed year of service as per rules of the company. The aforesaid liability is provided for on the basis of an acturial valuations made at the end of the financial period.
(i) Defined benefit plan
(a) Reconciliation of opening and closing balances of defined benefit obligation
Total Debts includes Long term and Short term debts
EBITDA = Profit before Tax Finance Cost Depriciation expense
EBIT = Profit before Tax Finance Cost
Capital Employed = Total Equity Total Debts Deferred tax liability
PY Current Ratio and Net Capital Turnover Ratio has been changed due to Recalssification. (Refer Note -49)
Notes:-
1 Current ratio : The increase is on account of short utilisation of Working Capital Limit as compare to previous year and payment to creditors.
2 Debt-Equity Ratio : The variance is on account of repayment of loans duing the year.
3 Debt Service Coverage Ratio : The variance is on account of decrease in loan repayment liability due to closure of few Term Loans.
4 Return On Equity (ROE) : The increase is on account of increae in Net Profit during the year as compare to previous year.
5 Trade Payable Turnover Ratio : The increase is on account of decrease in the level of trade payables as compare to previous year.
6 Net Profit Ratio : The increase is on account of decrease in the cost of Export Selling Expenses as compare to previous year.
40 The Company had not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 during the year ended 31st March 2023 and hence disclosures, if any, relating to amounts unpaid as at the previous year end together with interest paid/payable as required under the said Act have not been given. However, the amount unpaid as at 31 March 2024 is disclosed on the basis of intimation received from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 by the Company.
41 The amount due to Small Scale Undertakings (SSIs) is furnished under the relevant head. On the basis of information available with the Company regarding small scale industry status of the suppliers is Nil.
42 The Board of Directors and the Shareholders of the Company have approved a Scheme called as "Mohini Employees Stock Purchase Scheme - 2020" ("Scheme") in their meeting held on September 29, 2020. This scheme is effective from September 29, 2020. Pursuant to the Scheme, the Company has constituted Mohini Employees Welfare Trust ('Trust') to acquire, hold and allocate/transfer equity shares of the Company to eligible employees from time to time on the terms and conditions specified under the Scheme. However, no offer was made to eligible employees under the Scheme till March 31, 2024. The said trust had sold, Company's equity shares aggregated to 2,19,000 equity shares in the secondary market at price of 52.06 per share during the year. The Total outstanding share held by the Mohini Employee Welfare Trust as at March 31,2024 are 2,34,000 Share.
43 On 24th May 2021, a major fire broke out at the manufacturing facility of the company located at Plot No.109, Sector 3, Pithampur Industrial Area, District Dhar (MP) - 454774. There was no harm to human lives or injuries. The company suffered substantial loss to Building, Plant & Machinery and Inventory on account of fire. We have submitted our claim with the Surveyor of the Insurance Company and the Company has booked insurance claim receivable amounting to Rs. 2,503.73 lakhs as on 31 March, 2024 which is still under process with the insurance company. Due to fire incident, operations of the Bleaching unit were disrupted during the period from 24.05.2021 to 02.08.2021. Now the routine operations have been restored and plant has achieved optimum capacity utilization.
44 The Board of director of the company, in their meeting held on 29th May,2024, recommended a final dividend of INR 0.5 per fully paid-up equity shares of Rs. 10/- each, for the year ended 31st March 2024, subject to approval of shareholders at the ensuring annual general meeting of the company.
45 MAT credit ustilised of Rs 138.47 lakhs during the year ended 31 March 2023 is accounted for in the Statement of Profit and Loss Account as a part of tax expenses and accordingly current tax is reduced.
46 As per As-17 "Segment Reporting" is not applicable as 100% Revenue comes from single segment of Manufacturing.
47 The Company has recognised notional loss of Rs. 39.05 lakhs and Rs 280.68 lakhs on open forward contracts for the year ended 31st March 2024 and 31st March 2023 respectively.
48 According to management's estimation, governement grant of Rs 221.00 Lakhs is reversed during the previous year ended 31st March 2023 due to low probablity of recievable and the same has been written off in the previous year itself by the management.
49 Summary of adjustments/regoruping in previous year figures is as follows:
Previous year figures have been re-grouped, re-worked and re-classified wherever necessary, to make them comparable with current year/period figures.
b. Details of Benami Property held
The Company does not hold any Benami Property and no proceedings have been initiated on or are pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.
c. Title deeds of Immovable Property
Title deeds of Immovable Property held are in the name of Company.
d. Loans or Advances
The Company has given any loans to its related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person, Details are as under:
e. Details of Revalued Property
The Company has not revalued its Property, Plant and Equipment during the year.
f. Wilful Defaulter by any Bank/ Financial Institution/ Other Lender
The company is not declared as wilful defaulter by any bank / financial institution / other lender.
g. Relationship with struck off companies
The Company has no such transaction with any Struck off Company.
h. Registration of Charges or satisfaction with Registrar of Companies(ROC)
There are no charges pending for registeration with Registrar of Companies (ROC).
i. Compliance with number of layers of companies
The company has complied with clause (87) of section 2 of the Act read with the Companies (Restriction on number of layers) Rules, 2017.
j. Compliance with approved Scheme(s) of Arrangements
The Company has not entered into any Scheme of arrangement approved by Competent Authority.
k. Utillization of Borrowed Fund and Share Premium
A. The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies).
B. The company has not received any funds from any other person(s) or entity(ies).
l. Undisclosed Income
There are no transactions which are not recorded in books of accounts i.e. there is no undisclosed income.
m. Crypto Currency or Virtual Currency
The company has not traded or invested in Crypto Currency or Virtual Currency.
|