| 1. As the company does not have details of registration status of
their suppliers / creditors in reference to Micro, Small and Medium
Enterprise Development Act, 2006, so no details have been provided
under clause 22 of said act and accordingly no provision has been made
for the same.
2. Excise duty on sales has been reducted from revenue from
operations in profit and loss and excise duty on increase / decrease in
stock amount has been grossed up in the value of finished goods in note
no 16c of the financial statements.
3. Other income includes profit on sale of fixed assets of the
company and also liabilities which are now no more payable as per the
best assumption and decision of the management of the company.
4. The company reports basic earnings per share in accordance with
Accounting Standard (AS) 20 on 'Earnings Per Share'. Basic EPS is
computed by dividing the net profit after tax for the year by the
weighted average number of equity shares outstanding during the year.
5. Related Party Disclosures
As per Accounting Standard (AS) 18 on 'Related Party Disclosures',
related parties and transactions with related parties information has
been provided separately as an attechment to notes to account.
6. Segment Reporting Business Segments
The primary reporting of the Company has been performed on the basis of
business segment. The company operates in a single business segment of
Pharmaceuticals. Accordingly no additional disclosures are required as
per Accoutning Standard 17 on Segment Reporting.
7. Geographical Segments
Secondary segmental reporting is performed on the basis of the
geographical location of customers. The management views the Indian
market and export market as distinct geographical segments. Further the
company has whole business in Indian market only. Accordingly no
additional disclosures are required as per Accounting Standard 17 on
Segment Reporting.
8. Contingent Liabilities and Commitments
a. As per the information available with the management and based on
that with the best judgement by the management, there is no such
contingent liabilities including appeal filed by income tax department
for which provision is required.
b. Assessment proceedings under VAT Act is under process for which
management is of the openion that there is no requirement to identify
or make provision of any future liability if ascertained.
9. Other notes
a) Number of employees who were employed throughout the year and
were in receipt of remuneration of Rs 60,00,000/- per annum or more are
nil during the current year as well as in previous year.
b) Number of employees who were employed for the year and were in
receipt of remuneration of Rs 5,00,000/- per month or more are nil
during the current year as well as in previous year.
c) Balances shown under the head of "Secured loans", "Unseucred
Loans", "Sundry Debtors", "Sundry Creditors" are subject to
confirmation of parties concerned.
d) In the openion of the directors of the company, the value of
current assets shown in the Balance sheet are approximately of the
value stated, if realised in the ordinary course of business.
e) Figures have been rounded off to the nearest rupee.
10. Prior years' comparatives
a) The previous years' figures have been reworked, regrouped,
rearranged and reclassified wherever necessary. Amount and other
disclosure for the preceding year are included as an integral part of
the current year financial statement and are to be read in relation to
amount and other disclosures relating to the current year.
11. Related Party Disclosures
As per As 18, the disclosures of transactions with the related parties
are given below:
A. (I) Key Management Personnel:
Sr. No. Name of Person (FY 2014-15) Name of Person (FY 2013-14)
1 Dakshesh Rameshchandra Shah Dakshesh Rameshchandra Shah
2 Harsh Jitendrakumar Shah Harsh Jitendrakumar Shah
3 Payalben Sujay Mehta Payalben Sujay Mehta
4 Sujay Jyotindra Mehta Sujay Jyotindra Mehta
5 Anar Jayesh Patel Anar Jayesh Patel
6 Mihirbhai Patel
7 Riddhiben Patel |