| 1. COPORATE INFORMATION
Anu's Laboratories Limited is one of the leading manufacturers of 2,4-
Dichloro-5 Fluro Acetophenone, CSI Hydroxy Lactum, Chlorohexanone
2-one, Q-acid, Sodium Methoxide solution and powder. Anu's Laboratories
Limited has manufacturing facilities at Shad Nagar, Isnapur,
Visakapatnam and Pydibhimavaram in Andhra Pradesh.
The financial statements of the Company are prepared on accrual basis.
2.1 Long-term loan from bank: The loan from ING Vysya Bank Limited is
secured by way of exclusive first charge on fixed assets of the Company
situated at Jawaharlal Nehru Pharma City, Parwada, Vizag. This facility
is further secured by way of pari pasu first charge on all other fixed
assets of the Company, both present & future, along with other term
lenders. The loan is repayable in 12 quarterly installments and the
last being October 2014 and carries rate of interest of 16%.
2.2 Long-term loan from others: The loan from IFCI Venture Capital
Funds Limited and is secured by way of exclusive first charge on fixed
assets of the Company situated at Pydibhimavaram, Srikakulam District,
Andhra Pradesh. This facility is secured by way of pledge of shares of
promoters of the Company and also guaranteed by the Managing Director
of the Company. The loan is repayable in 9 quarterly installments and
the last installment being in January 2014 and carries rate of interest
of 16%.
2.3 Finance lease obligations are secured against leased assets (Refer
Note 13.1).
2.4 Unsecured loan: The long term unsecured loan of Rs.170.00 million
from Shri Ram City Union Finance Limited secured against personal
property of the promoters and repayable in one year and carrying rate
of interest @ 24% p.a.
2.5 The working capital facilities are sanctioned by IDBI, State Bank
of India, ING Vysya Bank and Karur Vysya Bank. These facilities are
secured by first charge on all the current assets, both present &
future. There are further secured by way of second charge on the
immovable properties of the Company. These are further secured by way
of paripassu first charge on the properties belongs to the promoters &
relatives of the promoters and also guaranteed by the Promoter
Directors and Directors of the Company. These loans are payable on
demand and carry average rate of interest 15% p.a.
3. General description of lease terms
a. Lease rentals are charges on the basis of agreed terms
b. Assets are taken on lease for a period of five years
4. CONTINGENT LIABILITIES
Particulars 2011-12 2010-11
a. Bank guarantees & letter of
credit given by banks 11.67 413.98
b. Details of statutory authorities
disputed by the Company in appeals
with higher authorities in respect of:
Disputed sales tax demands
A.Y. 2001-02 1.00 1.00
A.Y. 2003-04 0.68 0.68
A.Y. 2004-05 1.82 1.82
A.Y. 2005-06 2.21 2.21
c. Other legal claims
M/s. Sun Moon Chemicals Private Limited
filled a suit against the Company for a
demand of Rs.4.68 million. 4.68 4.68
Total 22.06 424.37
5. SEGMENT REPORTING
a. Company's operations are predominantly related to the manufacture
of bulk drugs intermediates, as such there is only one primary
reportable segment. Secondary reportable segments are identified taking
into account the geographical markets available to the products, the
differing risks, returns and internal reporting system.
b. As a part of secondary reporting, revenues are attributed to
geographical areas based on the location of customers as detailed
below:
6. REGROUPED
Previous year's figures have been regrouped/reclassified wherever
necessary, to confirm to the current year classification.
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