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Corporate Identity Serving Diverse Industries Purpose and Values Overview by the Chairman Operational Highlights Financial Analysis Research and Technology
Safety, HealthandEnvironment Serving the Society Directors’ Report Management Discussion andAnalysis Report on Corporate Governance
Financial Statements
As per our attached report of even date
For and on behalf of the Board of Directors
For Dalal and Shah
Firm Registration No 102020W
G S Patel
Sunil S Lalbhai
Chartered Accountants
B S Mehta
Chairman and Managing
H S Shah
Director
S M Datta
S Venkatesh
R A Shah
Partner
T R Gopi Kannan V S Rangan
Samveg A Lalbhai
Membership No 037942
President, Finance and
B N Mohanan
Managing Director
Mumbai
Company Secretary
Directors
Mumbai
July 19, 2010
July 19, 2010
20 Included under loan and advances is an amount of Rs 21.29 crores given to an associate company. The said Company
is registered under BIFR and is in the process of implementing its revival plan. First charge over all their assets have
been assigned exclusively in favour of the Company. Considering present market value of assets, this amount is
considered as good and recoverable.
21 The Company has revalued (i) Leasehold land and (ii) Commercial land and building at Ahmedabad, Mumbai and
Delhi as at March 31, 2008 at fair market value as determined by an independent valuer appointed for the purpose.
Resultant increase in book value amounting to Rs 107.47 crores has been transferred to Revaluation Reserve.
22 With effect from April 01, 2009 the Company has implemented Oracle as ERP platform and the valuation of
inventories is done on the basis of Moving Weighted Average Method instead of FIFO | YTD average basis applied
in the earlier years. The impact on profits due to this change is not material.
23 Decline in value of a certain long term investment, considered as temporary in nature, has not been recognised and
accordingly, no provision for diminution in value has been made (see Schedule 6, page 46 I 47)
24 Previous year's figures have been regrouped wherever necessary.
25 Figures less than Rs 50,000 has been shown at actual in bracket as the figures have been rounded off to nearest lacs.
SCHEDULE 16 NOTES FORMING PART OF THE ACCOUNTS
(contd)
Schedule
forming part of the accounts