I. Reconciliation of Balance Sheet as at 1st April, 2016
(Rs in Lacs)
| |
Particulars
|
Notes
|
Regrouped IND AS Previous GAAP Adjustments
|
As on April 01,2016
|
|
|
ASSETS
|
|
|
|
|
1
|
Non Current Assets
|
|
|
|
| |
a Property, Plant and Equipment
|
3
|
262.75
|
262.75
|
| |
b Investment Property
|
4,D
|
3,411.48 2.44
|
3,413.92
|
| |
c Intangible Assets
|
5
|
1.06
|
1.06
|
| |
d Investment in Subsidiary
|
6
|
2,021.77
|
2,021.77
|
| |
e Financial Assets
|
|
|
|
| |
(i) Investment
|
7,C
|
101.60 60.91
|
162.51
|
| |
(ii) Trade Receivable
|
8
|
55.20
|
55.20
|
| |
f Income tax assets (net)
|
9
|
120.81
|
120.81
|
| |
g Deferred Tax Assets (Net)
|
10
|
19.14
|
19.14
|
| |
h Other non current assets
|
11
|
0.10
|
0.10
|
|
2
|
Current Assets
|
|
|
|
| |
a Inventories
|
12
|
411.35
|
411.35
|
| |
b Financial Assets
|
|
|
|
| |
Investment
|
|
|
|
| |
(i) Trade Receivable
|
13
|
365.37
|
365.37
|
| |
(ii) Cash and cash equivalents
|
14
|
7.51
|
7.51
|
| |
(iii) Bank Balance other than (iii) above
|
15
|
94.15
|
94.15
|
| |
(iv) Other Financial Assets
|
16
|
16.05
|
16.05
|
| |
c Other Assets
|
17
|
635.05
|
635.05
|
| |
d Income tax assets (net)
|
18
|
25.52
|
25.52
|
| |
Total
|
|
7,548.91 63.35
|
7,612.26
|
|
|
EQUITY AND LIABILITIES
|
|
|
|
|
1
|
Equity
|
|
|
|
| |
a Equity Share Capital
|
19
|
255.00
|
255.00
|
| |
b Other Equity
|
20,A,B,C
|
4,979.88 86.37
|
5,066.25
|
|
2
|
Non Current Liabilities
|
|
|
|
| |
a Financial liabilities
|
|
|
|
| |
(i) Borrowings
|
21
|
903.58
|
903.58
|
| |
(iii) Trade payables
|
22
|
63.63
|
63.63
|
| |
(ii) Other Financial liabilities
|
23,A
|
513.67 (101.52)
|
412.15
|
| |
b Provisions
|
24
|
23.83
|
23.83
|
| |
c Other non current liabilities
|
25
|
101.52
|
101.52
|
|
3
|
Current Liabilities
|
|
|
|
| |
a Financial liabilities
|
|
|
|
| |
(i) Borrowings
|
26
|
243.94
|
243.94
|
| |
(i) Trade payables
|
27
|
210.04
|
210.04
|
| |
(iii) Other financial liabilities
|
28
|
248.47
|
248.47
|
| |
b Other current liabilities
|
29
|
77.67
|
77.67
|
| |
c Provisions
|
30,B
|
29.20 (23.02)
|
6.18
|
| |
Total
|
|
7,548.91 63.35
|
7,612.26
|
Reconciliations between previous GAAP and Ind AS
II. Reconciliation of Balance sheet as at 31st March, 2017
(Rs in Lacs)
| |
Particulars
|
Notes
|
Regrouped IND AS Previous GAAP Adjustments
|
As on 31st March, 2017
|
|
|
ASSETS
|
|
|
|
|
1
|
Non Current Assets
|
|
|
|
| |
a Property, Plant and Equipment
|
3
|
265.24
|
265.24
|
| |
b Investment Property
|
4,D
|
3,210.92 0.94
|
3,211.86
|
| |
c Intangible Assets
|
5
|
3.50
|
3.50
|
| |
d Investment in Saubsidiary
|
6
|
2,021.76
|
2,021.76
|
| |
e Financial Assets
|
|
|
|
| |
(i) Investment
|
7,C
|
101.60 88.20
|
189.80
|
| |
(ii) Trade Receivable
|
8
|
92.57
|
92.57
|
| |
f Income tax assets (net)
|
9
|
110.03
|
110.03
|
| |
g Deferred Tax Assets (Net)
|
10
|
14.45
|
14.45
|
| |
h Other non current assets
|
11
|
0.09
|
0.09
|
|
2
|
Current Assets
|
|
|
|
| |
a Inventories
|
12
|
312.69
|
312.69
|
| |
b Financial Assets
|
|
|
|
| |
(i) Trade Receivable
|
13
|
329.98
|
329.98
|
| |
(ii) Cash and cash equivalents
|
14
|
13.00
|
13.00
|
| |
(iii) Bank Balance other than (iii) above
|
15
|
33.01
|
33.01
|
| |
(iv) Other Financial Assets
|
16
|
63.11
|
63.11
|
| |
c Other Assets
|
17
|
690.16
|
690.16
|
| |
d Income tax assets (net)
|
18
|
24.36
|
24.36
|
| |
Total
|
|
7,286.49 89.14
|
7,375.63
|
|
|
EQUITY AND LIABILITIES
|
|
|
|
|
1
|
Equity
|
|
|
|
| |
a Equity Share Capital
|
19
|
255.00
|
255.00
|
| |
b Other Equity
|
20,A,B,C
|
5,104.60 92.64
|
5,197.24
|
|
2
|
Non Current Liabilities
|
|
|
|
| |
a Financial liabilities
|
|
|
|
| |
(i) Borrowings
|
21
|
697.41
|
697.41
|
| |
(iii) Trade payables
|
22
|
58.90
|
58.90
|
| |
(ii) Other Financial liabilities
|
23,A
|
545.79 (72.88)
|
472.91
|
| |
b Provisions
|
24
|
25.78
|
25.78
|
| |
c Other non current liabilities
|
25
|
69.40
|
69.40
|
|
3
|
Current Liabilities
|
|
|
|
| |
a Financial liabilities
|
|
|
|
| |
(i) Borrowings
|
26
|
256.07
|
256.07
|
| |
(i) Trade payables
|
27
|
15.90
|
15.90
|
| |
(iii) Other financial liabilities
|
28
|
249.37
|
249.37
|
| |
b Other current liabilities
|
29
|
71.99
|
71.99
|
| |
c Provisions
|
30
|
5.66
|
5.66
|
| |
Total
|
|
7,286.49 89.14
|
7,375.63
|
I. A. Reconciliation of Equity
(Rs in Lacs)
|
Particulars
|
Notes
|
As on 31st March, 2017
|
As on 1st April, 2016
|
|
Total Equity under Previous GAAP Adjustments impact: Gain/ (Loss) Commision - Direct cost attributable to asset capitalised
|
4,D
|
5,359.60 2.44
|
5,234.88 2.44
|
|
Provision for Dividend reversed
|
20,B
|
-
|
19.13
|
|
Provision for tax on Dividend reversed
|
20,B
|
-
|
3.89
|
|
As per reconciliation of Statement of Profit and Loss
|
III B
|
3.50
|
-
|
|
Recognised in OCI
|
|
|
|
|
Actuarian Loss on defined benefit plan
|
E
|
(1.52)
|
-
|
|
Remeasurement of Fair Value of Investments
|
6,C
|
88.20
|
60.91
|
|
Total Equity Under Ind AS
|
|
5,452.24
|
5,321.25
|
|
III. B. Reconciliation of Statement of Profit and Loss for the year ended March 31, 2017
|
|
|
(Rs in Lacs)
|
|
Particulars
|
Regrouped Notes Previous GAAP
|
IND AS Adjustments
|
For the Year ended 31st March, 2017
|
|
Revenue from operations
|
31 2,201.41
|
52.79
|
2,254.21
|
|
Other income
|
32 58.85
|
-
|
58.85
|
|
Total Income (A)
|
2,260.26
|
52.79
|
2,313.06
|
|
Expenses
|
|
|
|
|
Cost of materials consumed
|
33 1,080.05
|
-
|
1,080.05
|
|
Changes in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade
|
34 (46.60)
|
|
(46.60)
|
|
Employee benefit expenses
|
35,E 236.01
|
(1.52)
|
234.48
|
|
Finance cost
|
36,A 90.63
|
49.31
|
139.94
|
|
Depreciation and amortisation expenses
|
91.75
|
-
|
91.76
|
|
Other expense
|
37,D 407.21
|
1.50
|
408.71
|
|
Total expenses (B)
|
1,859.04
|
49.29
|
1,908.32
|
|
Profit before exceptional item and tax (A-B)
|
401.23
|
3.50
|
404.74
|
|
Exceptional item
|
|
|
|
|
Profit before tax
|
401.23
|
3.50
|
404.74
|
|
Tax expense
|
|
|
|
|
a) Current tax
|
86.00
|
-
|
86.00
|
|
b) Deferred tax
|
4.69
|
-
|
4.69
|
|
c) Taxes related to earlier years
|
(1.55)
|
-
|
(1.55)
|
|
Profit/ (loss) for the year
|
312.09
|
3.50
|
315.60
|
|
Other Comprehensive Income
|
|
|
|
|
A (i) Items that will not be reclassified to Profit or Loss
|
|
|
|
|
Remeasurement gains of defined benefit plan
|
|
(1.52)
|
(1.52)
|
|
Remeasurement gains of Investments at Fair Value
|
|
27.29
|
27.29
|
|
(ii) Income tax relating to items that will not be reclassified to Profit or Loss -
|
|
-
|
|
|
B (i) Items that will be reclassified to profit or Loss
|
|
-
|
-
|
|
(ii) Income tax relating to items that will be reclassified to Profit or Loss
|
|
-
|
-
|
|
Total Other Comprehensive Income
|
|
25.77
|
25.77
|
|
Total Comprehensive Income for the year
|
312.09
|
29.27
|
341.37
|
III. C. Reconciliation of Statement of Cash Flow
There were no material differences between the Statement of Cash Flows presented under Ind AS and the Previous GAAP.
Notes forming part of the financial statements for the year ended March 31, 2018 Notes on reconciliation
A Financial liabilities at amortised cost
Under previous GAAP, financial liabilities were initially recognized at transaction price. Subsequently, any finance cost were recognized based on contractual terms. Under Ind AS, such financial instruments are initially recognized at fair value and subsequently arrived at amortised cost determined using the effective interest rate. Any difference between transaction price and fair value affects profit and loss unless it quantifies for recognition as some other type of liability.
B Proposed dividend
Under the previous GAAP, dividends proposed by the Board of Directors after the balance sheet date but before the approval of the financial statements were considered as adjusting events. Accordingly, proposed dividend was recognized as a liability. Under Ind AS, such dividends are recognized when the same is approved by the shareholders in the general meeting
C Financial instruments carried at fair value through profit and loss or through other comprehensive income
Under previous GAAP, investments in long-term equity instrument were carried at cost and tested for other than temporary diminution. Under Ind AS, such investments are carried at fair value through profit or loss (FVTPL) or fair value through other comprehensive income (FVOCI) (except for investment in subsidiary).
D Investment property
Under Previous IGAAP, as per Accounting Standard Property, Plant & Equipment is recognised at cost less depreciation. However under Ind AS 101, allows entity to measure Property, Plant & Equipment on the transition date at its fair value or previous IGAAP carrying value (book value) as deemed cost.
The company has elected to measure Investment Property at deemed cost as per Previous IGAAP.
Expenses directly attributable to Investment Property has been capitalised and recognised as expense in Profit & Loss Account over the period on the same basis as income.
E Defined benefit plan
Under Ind AS, remeasurement i.e. actuarial gains and losses and the return on plan assets, excluding amounts included in the net interest expense on the net defined liability, are recognised in other comprehensive income instead of Statement of Profit and Loss in previous GAAP.
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As per our Report of even date For and on behalf of
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For and on behalf of the Board of Directors
|
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S S Rathi & Co.
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Pavan G. Morarka Vaibhav P. Morarka
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Rajiv Kumar Bakshi
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Chartered Accountants
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Chairman & Managing Director Director
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Director
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Firm Regn. No. 108726W
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DIN: 00174796 DIN : 01630306
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DIN : 00264007
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D. P. Rathi
|
R. K. Sharma
|
Khushmeeta Bafna
|
|
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Partner
|
Chief Financial Officer
|
Company Secretary
|
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Membership No. 042068
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Mumbai : May 30, 2018
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Mumbai : May 30, 2018
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