| 1. Lease hold land was revalued time to time in the financial year
2005-06 and 2007-08. As a result, the gross value of assets includes
revaluation amount of Rs. 2,04,50,927 and Rs.6,97,26,000/- respectively
which is transferred to Revaluation Reserve.
2. Earnings per share
Basic earning per share is computed by dividing the net profit after
tax by the weighted average number of shares outstanding for the
period. As on the reporting date, there are no potential equity shares
outstanding which may have a diluting impact on the earnings per share.
3. Licensed and installed capacity and production: Not Applicable
4. Foreign exchange earning Nil during the current year and Nil
during the previous year.
5. No provision for gratuity and leave encashment is made during the
year.
6. Related Party Disclosure as per AS-18
Names of Related Parties where control exists irrespective of whether
transactions have occurred or not: :
Associate : Palco Recycle Industries Ltd.
Names of Related Parties with whom transactions have occurred during
the period
i Palco Recycle Industries Ltd.
ii. Palco Recycle Exchange Limited,
iii. India Metals Works & Steel Fabs Corporation
Key Management Personnel:
i. Kiran B Agrawal
ii. Kanaiyalal B. Agrawal
7. The details required under segment reporting as per AS 17 is not
furnished as the company is not having any reportable segments.
8. The previous year figures have been regrouped and reworked
wherever necessary.
9. Contingent liabilities:-
The Company is contingently liable as it has given corporate guarantee
for Rs. 25.35 crores for loan borrowed by Palco Recycle Industries Ltd.
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