| 1. Corporate Information:
Hipolin Limited ("The Company") was incorporated in March 31,1994 under
the provision of the Companies Act, 1956. The Company is engaged in
manufacturing of Detergent Powder & Cake and alike products. The
manufacturing facility for the same is set up at A/1/1, Nilkanth Ind.
Estate, Nr, Iyava Bus Stand, Ta. : Sanand, Dist.: Ahmedabad,
Gujarat.The equity shares of the Company are listed on Bombay Stock
Exchange Ltd.
2. Rights, Preferences and Restrictions
The authorised share capital of the Company has only one class of shares
referred to as 'equity shares' having a par value of Rs.10/-each.
The rights and privileges to equity shareholders are general in nature
and defined under the Articles of Association.
The equity shareholders shall have:
I) One vote and poll when present in person (including a body corporate
by duly authorised representative) or by an agent duly authorised under
a power of attorney or by a proxy his voting right shall be in
proportion to his share to the paid equity share capital of the
company. However, no member shall exercise any voting rights in respect
of any share registered in his name on which any class or other sums
presently Payable by him have not been paid or in regard to which the
company has exercised any right of lien.
ii) subject to the rights of person if any, entitled to share with
special rights as to dividends, all dividends shall be declared and
paid according to the amount paid or credited as paid to the shares in
respect where of the dividend is payable.
3. Previous year's figures have been regrouped, reworked, rearranged
and reclassified whenever necessary.
4. SEGMENT REPORTING
The Company has only one reportable business segment i.e. Detergent
Powder & cake as primary segment.
5. RELATED PARTY TRANSACTION DISCLOSURES
a) List of related parties with whom transactions have taken place
during the year and relationship
SR. No. Name
1 Shri Bhupendra J. Shah
2 Shri Jaykumar J. Shah
3 Shri Shailesh J. Shah
4 Shri Daxesh B. Shah* Key Managerial Personnel
5 Shri Rumit B. Shah*
6 Shri Vivek S. Shah*
7 Shri Bharat J. Shah
8 Shri Subhash J. Shah
1 Shri Bharat J. Shah**
2 Shi Subhash J. Shah**
3 Shri Apurva S. Shah Relatives of Key Managerial Personnel
4 Shri Daxesh B. Shah
5 Shri Rumit B. Shah
6 Shri Vivek S. Shah
* Shri Daxesh B. Shah, Vivek S. Shah and Shri Rumit B. Shah resigned as
Key Managerial Personnel w.e.f. 13.02.2015 but remain as a relative of
Key Mangerial personnel from the same date of resignation
** Shri Bharat J. Shah and Shri Subhash J. Shah were resigned as
relatives of Key Managerial Personnel w.e.f.13.02.2015 but were
appointed as Key Mangerial Personnel from the same date i.e.,
13.02.2015
6. Contingent Liabilities Not Provided For In Accounts:
Rs. (In Lacs)
2014-15 2013-14
In respect of Bank Guarantee issued
In favour of Government of India. 169.00 244.00
In respect of disputed Income Tax matters 42.69 -
7. Excise Duty amounting to Rs. 0.20 lacs (Previous Year Rs. 0.83
lacs) on finished goods not cleared is neither provided nor is the same
considered for valuation of closing stock. This has no impact on the
profit/ loss of the accounting year.
8. a) In the opinion of the Directors, Current assets , Loans and
Advances have the value at which they are stated in the Balance Sheet,
if realized in the ordinary course of business.
b) The confirmations of some parties for the amount due to them/ amount
due from them as per books of accounts are not received. Necessary
adjustments, if any, will be made when the accounts are reconciled/
settled.
9. Since it is not possible to ascertain with reasonable certainty
the quantum of accruals in respect of certain Insurance and other
claims, Excise and custom duty Refund, Interest on overdue bills from
customers, etc., the same are to be accounted on cash basis.
10. Earning Pershare(EPS):
The earnings considered in ascertaining the Company's Basic EPS in the
attributable net profit /(loss) to the equity shareholders'. The number
of shares used in computing Basic EPS is the weighted average number of
shares outstanding during the period:
11. All the Raw Materials, Components and other items consumed are
indigenous. There is no consumption of imported Raw material,
Components and other items.
12. Based on the information available with the company the balance
due to Small Enterprise as under Micro, Small and Medium Enterprise
Development Act, 2006("MSMED Act") is Rs. 3,25,408/-
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