Notes to Account
38. Disclosure as per Schedule III of the Act and Ind AS-37 on Provisions, Contingent Liabilities and Contingent assets
i. CONTINGENT LIABILITIES
Claim against the Company not acknowledged as debts: (All figures in INR)
|
March 31 ,2018
|
March 31, 2017
|
Sewerage cess claimed by HMWS & SB
|
3,423,498
|
3,014,786
|
ii. COMMITMENTS
(All figures in INR)
|
March 31 ,2018
|
March 31, 2017
|
Estimated amount of contracts remaining to be executed on capital account and not provided for
|
2,921,711
|
2,921,711
|
39. Disclosure as per Ind AS - 12 Income tax
A. Income tax assessments:
The Company's income tax assessments were completed upto A.Y. 2015-16
B. The tax effects of significant temporary differences that resulted in deferred income tax asset and liability are as follows: (All figures in INR)
Particulars
|
March 31 ,2018
|
March 31, 2017
|
April 1, 2016
|
Difference in WDV of PPE and Intangible assets
|
(213,126,542)
|
(220,853,441)
|
(229,733,871)
|
Carried forward losses
|
265,471,851
|
284,144,490
|
284,436,338
|
Post Employment Benefits
|
5,341,807
|
3,139,145
|
1,895,411
|
Other disallowances
|
-
|
-
|
-
|
Net timing differences
|
57,687,117
|
66,430,194
|
56,597,877
|
Deferred Taxes Asset there on at applicable rates
|
15,894,243
|
21,963,815
|
18,712,956
|
40. Disclosure as per Ind AS-19 - Employee benefits A. Defined Contribution Plan
Contribution to Defined Contribution Plan recognised as expenses for the financial year as under: (All figures in INR)
|
2017-18
|
2016-17
|
Employer's Contribution to Provident Fund
|
2,705,357
|
2,854,583
|
Employer's Contribution to ESI
|
434,524
|
415,695
|
B. Defined Benefit Plan
I. Gratuity obligation of the Company
The employees' gratuity fund scheme managed by a Trust is a defined benefit plan. The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognised each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit to build up the final obligation. The obligation for leave encashment is recognised in the books as per Actuarial Valuation.
Assets and Liability (Balance sheet position)
(All figures in INR)
Particulars
|
March 31, 2018
|
March 31, 2017
|
Present value of obligation
|
11,222,225
|
10,791,850
|
Fair value of plan assets
|
(141,455)
|
(119,802)
|
Surplus / (deficit)
|
956,170
|
550,177
|
Contributions paid
|
1,686,443
|
-
|
Net asset / (liability)
|
13,723,383
|
11,222,225
|
Expense recognised during the period
(All figures in INR)
Particulars
|
March 31, 2018
|
In Income statement (P&L A/c - expense provision)
|
1,892,157
|
In other comprehensive income (Balance sheet item)
|
(390,941)
|
Changes in the present value of obligation
(All figures in INR)
Particulars
|
For the period ending
|
March 31 ,2018
|
March 31 ,2017
|
Present value of obligations as at the beginning
|
12,929,309
|
11,841,256
|
Interest cost
|
880,486
|
871,442
|
Current Service Cost
|
823,695
|
794,179
|
Past service cost - (Vested benefits)
|
1,000,000
|
-
|
Benefits Paid
|
-
|
(319,460)
|
Actuarial (Gain) / Loss on obligation
|
(246,795)
|
(258,108)
|
Present value of obligations as at the end
|
15,386,695
|
12,929,309
|
Bifurcation of net liability
|
|
|
Current liability (Short Term)
|
3,759,934
|
2,178,915
|
Non-current liability (Long Term)
|
11,626,761
|
10,750,394
|
Net liability
|
1,663,312
|
1,707,084
|
Changes in the fair value of plan assets
(All figures in INR)
Particulars
|
For the period ending
|
March 31 ,2018
|
March 31, 2017
|
Fair value of plan assets as at the beginning
|
11,222,225
|
10,791,850
|
Adjustment to opening Fair value of plan asset
|
(141,455)
|
(119,802)
|
Return on plan assets excluding Interest Income
|
144,146
|
85,418
|
Contributions by employer
|
1,686,443
|
-
|
Interest Income
|
812,024
|
784,219
|
Benefits Paid
|
-
|
(319,460)
|
Fair value of plan assets as at the end
|
13,723,383
|
11,222,225
|
Expense recognised in the Income Statement
(All figures in INR)
Particulars
|
March 31, 2018
|
Current Service Cost
|
823,695
|
Past Service Cost
|
1,000,000
|
Interest Cost
|
68,462
|
Expense recognised in the Income statement
|
1,892,157
|
Other Comprehensive Income
(All figures in INR)
Particulars
|
March 31, 2018
|
Actuarial (gains) / losses
|
|
Actuarial (gains) / losses on obligations
|
(246,795)
|
Actuarial (gains) / losses on plan assets
|
(144,146)
|
Total OCI
|
(390,941)
|
II. Long Term compensated absences - Leave Encashment Assets and Liability (Balance sheet position)
(All figures in INR)
Particulars
|
March 31, 2018
|
March 31, 2017
|
Present value of obligation
|
1,432,061
|
846,005
|
Fair value of plan assets
|
-
|
-
|
Surplus / (deficit)
|
(173,116)
|
586,056
|
Net asset / (liability)
|
1,258,945
|
1,432,061
|
Expense recognised during the period
(All figures in INR)
Particulars
|
March 31, 2018
|
In Income statement (P&L A/c - expense provision)
|
1,067,407
|
Changes in the present value of obligation
(All figures in INR)
|
For the period ending
|
Particulars
|
March 31, 2018
|
March 31, 2017
|
Present value of obligations as at the beginning
|
1,432,061
|
846,005
|
Interest cost
|
97,523
|
40,983
|
Current Service Cost
|
969,884
|
948,946
|
Benefits Paid
|
-
|
(593,279)
|
Actuarial (Gain) / Loss on obligation
|
(1,240,523)
|
189,406
|
Present value of obligations as at the end
|
1,258,945
|
1,432,061
|
Bifurcation of net liability
|
|
|
Current liability (Short Term)
|
220,173
|
135,277
|
Non-current liability (Long Term)
|
1,038,772
|
1,296,784
|
Net liability
|
1,258,945
|
1,432,061
|
Changes in the fair value of plan assets
(All figures in INR)
Particulars
|
For the period ending
|
March 31, 2018
|
March 31, 2017
|
Fair value of plan assets as at the beginning
|
-
|
-
|
Adjustment to opening Fair value of plan asset
|
-
|
-
|
Return on plan assets excluding Interest Income
|
-
|
-
|
Interest Income
|
-
|
-
|
Contribution by employer
|
-
|
593,279
|
Benefits Paid
|
-
|
-
|
Fair value of plan assets as at the end
|
-
|
-
|
Expense recognised in the Income Statement
(All figures in INR)
Particulars
|
March 31, 2018
|
Current Service Cost
|
969,884
|
Past Service Cost
|
-
|
Interest Cost
|
97,523
|
Expense recognised in the Income statement
|
1,067,407
|
I. Actuarial assumptions:
|
Gratuity (Funded) 2017-18
|
Leave Encashment (Non funded) 2017-18
|
Gratuity (Funded) 2016-17
|
Leave Encashment (Non funded) 2016-17
|
Mortality Table (LIC)
|
7.33%
|
7.33%
|
6.81%
|
6.81%
|
Discount rate (per annum)
|
3.00%
|
3.00%
|
3.00%
|
3.00%
|
Expected rate of return on plan assets (Per annum)
|
10.10
|
9.12
|
10.13
|
9.55
|
Rate of escalation in salary (per annum)
|
5%
|
5%
|
5%
|
5%
|
The estimates of rate of escalation in salary considered in actuarial valuation, taking into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. The above information is certified by the actuary.
The expected rate of return on plan assets is determined considering several applicable factors, mainly the composition of plan assets held, assessed risks, historical results of return on plan assets and the Company's policy for plan assets management.
41. Disclosure as per Ind AS - 21 - The effects of changes in foreign exchange rates Un-hedged foreign currency exposure at the year end: (All figures in INR)
Particulars
|
March 31, 2018
|
March 31, 2017
|
Trade payables
|
95,29,996
|
14,176,311
|
Trade receivables
|
58,818,646
|
70,313,160
|
Particular
|
March 31, 2018
|
March 31, 2017
|
a. Exchange differences arising out of settlement / translation on account of export sales for the year
|
30,591
|
19,65,376
|
b. Exchange differences arising out of settlement / translation on account of previous year imports
|
633,173
|
(116,910)
|
c.Exchange differences arising out of settlement / translation on account of others
|
626,231
|
574,465
|
Net gain / (loss) recognised during the year
|
1,289,995
|
2,422,931
|
42. Disclosure as per Ind AS - 33 Earning per Share:
Particulars
|
March 31, 2018
|
March 31, 2017
|
Total No. of Shares
|
10,182,506
|
10,182,506
|
Profit after Taxes and exceptional items (In INR)
|
14,700,120
|
3,527,961
|
Earning per share Basic & Diluted (INR 10 per share)
|
1.44
|
0.35
|
43. Disclosure as per Ind AS-108 Operating segments:
As the Company is predominantly engaged in the manufacture and sale of chemicals where the risks and returns associated with the products are uniform, the Company has identified geographical segments based on location of customers as reportable segments in accordance with Ind AS 108 issued by ICAI.
a. Segment Revenue:
Geographical Location
|
March 31 ,2018
|
March 31 ,2017
|
|
INR
|
%
|
INR
|
%
|
Domestic
|
388,360,942
|
59.04
|
321,729,633
|
52.64
|
External
|
269,437,370
|
40.96
|
289,506,165
|
47.36
|
Total
|
657,798,312
|
|
611,235,798
|
|
b. Segment Assets (Trade Receivables):
Geographical Location
|
March 31 ,2018
|
March 31 ,2017
|
|
INR
|
%
|
INR
|
%
|
Domestic
|
82,142,964
|
58.24
|
32,475,827
|
31.59
|
External
|
58,826,884
|
41.76
|
70,313,160
|
68.41
|
Total
|
140,969,848
|
100.00
|
102,788,987
|
100.00
|
c. Other Disclosures:
Geographical Location
|
Carrying Amount of Segment Assets
|
Additions to Fixed Assets
|
|
March 31 2018
|
March 31 2017
|
March 31 2018
|
March 31 2017
|
|
INR
|
INR
|
INR
|
INR
|
Unallocable Assets
|
830,392,602
|
824,776,476
|
5,002,409
|
856,743
|
Note: The Company has no assets outside India other than the External Trade Receivables. All the assets, other than trade receivables, are shown as unallocable assets.
44. Disclosure as per Ind AS - 24 - Related party disclosures
(All figures in INR)
SI.No.
|
Particulars of the Party
|
Nature of Relationship
|
Transaction
|
Transactions during the year 2017-18
|
Closing balance at the end of the year 2017-18
|
1
|
Sri Y.S.R. Venkata Rao
|
Managing Director
|
Remuneration paid
|
4,997,304
|
-
|
Commission
|
1,193,457
|
|
2
|
Mr. YV.Prashanth
|
Executive Director
|
Remuneration paid
|
3,225,000
|
-
|
Commission
|
1,193,457
|
-
|
3
|
P. Sankara Rao
|
Chief Financial Officer
|
Remuneration paid
|
1,209,747
|
-
|
4
|
Ms. M. Neeharika
|
Company Secretary
|
Remuneration paid
|
314,368
|
-
|
45. Remuneration to Auditor (excluding GST):
(All figures in INR)
|
2017-18
|
2016-17
|
Statutory Audit
|
550,000
|
400,000
|
Taxation Matters
|
75,000
|
50,000
|
Other Services
|
129,000
|
245,500
|
46. Previous year figures as per previous GAAP have been regrouped / re arranged / reclassified wherever considered necessary to conform to the classifications / disclosures of the current year.
As per our Report attached
|
For and on Behalf of Board of Directors
|
|
Alkali Metals Limited
|
For C K S Associates
|
|
Chartered Accountants
|
|
FRN 007390S
|
|
N V S SRIKRISHNA
|
Y.S.R.VENKATA RAO
|
DR.J.S.YADAV
|
PARTNER
|
MANAGING DIRECTOR
|
CHAIRMAN
|
M.NO.025139
|
DIN: 00345524
|
DIN: 02014136
|
Place : Hyderabad
|
M.NEEHARIKA
|
P.SAN KARA RAO
|
Dated : 12.05.2018
|
COMPANY SECRETARY
|
CFO
|
|