Cubex Tubings Limited (Company) was incorporated on August 10, 1979 under the laws of the republic of India and has its registered office at Secunderabad (Telangana). Company is a manufacturer of seamless solid drawn Tubes, Rods, Bus bars and Wires of copper and copper based alloys such as Cupronickel, admiralty Brass, Aluminum Brass etc. Copper because of its high electrical conductivity and heat transfer characteristics finds wide application in the form of Tubes, Rods, Strips and Wires. The user industries are Power plants, Power plants manufacturers, Switchgears, Refineries, Furnace manufacturers, Sugar plants, Automobile and Electrical Equipment industries.

1. Depreciation on Fixed Assets

A) In accordance with provisions of Schedule II of Companies Act,2013,in case of fixed assets which have completed the useful life as at 31st march 2014,the carrying value as on 1.04.2014 amounting to Rs 45,47,952/- has been recognized in the Retained earnings as a transitional provision.

Further in case of assets acquired prior to 1st April, 2014, the carrying value of assets is depreciated over the remaining useful life as specified in the companies Act, 2013 effectives April, 2014.

B) Consequent to the implementation of the provisions of the Schedule II of the Companies Act, 2013, the depreciation expenses for the year decreased by Rs. 26,77,564/-

2. Segment wise information is not furnished as the company operates in only one segment viz. Copper & Copper Alloy Products.

3. Closing Balances of Debtors / Creditors / Loans & Advances are subjected to confirmation from the Parties.

4. The Company has availed total amount of Rs.56,707,740/- towards the sales Tax deferment, which has been sanctioned to the company, of which fourth annual instalment of Rs.5,440,016 has been repaid during this Financial Year.

5. There are no dues to SSI Units outstanding for more than 45 days.

6. Previous year's figures have been regrouped wherever necessary.

7. The Figures have been rounded off to the nearest rupee.