Areva T&D India Ltd.

Indian Stock Market

Find Company           Company List

 
             
Company Profile Balance Sheet Profit & Loss Half-Yearly Results Notes to Accounts
Financial Ratios Yearly High-Lows Company History Capital Structure Board of Directors Share Holding Pattern Key Executives

 

'Notes to Accounts' Areva T&D India Ltd.

1. Share Capital Notes:

as] 26,583,845 [55.59%s] equity shares of Rs 10/- each are held by AREVA T&D S.A. France, holding company. During the year, 7,933,335 [16.59%s] equity shares of Rs 10/- each as fully paid up, were issued and allotted to AREVA T&D Holdings SA, France & its subsidiary, pursuant to the scheme of amalgamation of AREVA T&D Systems India Limited [ATDSLs], AREVA T&D Instrument Transformers India Private Limited [AITPLs] & AREVA T&D Lightning Arresters Private Limited [ALAPLs] with the Company, without being payment received in cash.

bs] 15,750,000 equity shares of Rs 10/- each were allotted as fully paid bonus shares by capitalisation of general reserve, share premium and profit & loss Acc. balance.

cs] 11,937,992 equity shares of Rs 10/- each were issued & allotted as fully paid up pursuant to the scheme of amalgamation with The General Electric Comp. of India Limited in 1992-93 [11,520,000 sharess], GEC Power Engineering Services of India Limited [PESILs] in 1993-94 [330,000 sharess] & ALSTOM T&D Distribution Transformers Limited in 2000-01 [87,992 sharess],without payment being received in cash.

ds] During 1994-95, the Comp. offered 9,950,000 equity shares of Rs 10/- each to the existing shareholders in the ratio of 1 share for every 3 shares held at a premium of Rs 40/- per share as per letter of offer dated May 10,1994. The shares, barring 1,034 shares, which were kept in abeyance for technical reasons, were allotted at the Committee of Directors meeting held on July 28, 1994. Of the 1,034 shares kept in abeyance, 514 shares were allotted upto 2001/02.

es] The Comp. had in earlier year filed an appeal against the order of Honble High Court of Calcutta, levying fees for increase in authorised share capital pursuant to the scheme of amalgamation sanctioned by the said court by its order dated July 05,2007. The said appeal has been allowed vide order dated December 18, 2007, in favour of Company.

Note : 1. AREVA T&D SA, France has provided comfort letter to the bankers on the above loans. 2. Short term loans from banks includes overdraft of Rs 12,643 thousands

2. Fixed Assests Notes:

as] Land & buildings were revalued on March 31, 1992, based on the estimated current replacement cost after considering depreciation upto that date as per valuers reports, & the resultant surplus of Rs. 343,712 thousand was credited to fixed asset revaluation reserve. Of this reserve, Rs 327,592 thousand has been so far transferred to profit and loss Acc. for as an adjustment against depreciation / sale of assets.

bs] Renewal of lease agreement [for which the Comp. has an options] in respect of 4.84 acres of land at Chennai [which expired on September 13,1989s] is still under process. The Comp. has contested the enormous hike in rent by State Government & the matter is sub-Judice.

cs] Freehold land includes 0.74 acres costing Rs 3,488 thousand at Perungudi, Chennai which is pending registration.

3. CURRENT LIABILITIES

Acceptances 205,758 204,521 Sundry creditors Micro, Small & Medium Enterprises [Note [bs]s] Others 3,335,420 2,602,697 Other liabilities 4,126,629 2,594,289

Payments received in advance from customers 1,886,584 1,700,418 Interest accrued but not due on loans - 5,584

Investor Education & Protection Fund shall be credited by the following amount: Unclaimed dividend ** 6,707 2,823 9,561,098 7,110,332

** Represents Dividend warrants issued but not encashed & there is no amount falling due as at December 31, 2007 for transfer to Investor Education & Protection Fund.

Note : Sundry creditors include:

4. CHARGE ON ASSETS

Non funded facilities from certain banks are secured by way of first charge on fixed assets, investments, inventories, book debts & other movable current assets.

5. MILESTONE BILLING ON LONG TERM CONTRACTS

During the year, the automation business unit of Comp. revised its accounting estimates on recognising revenue & cost, for projects that exceed a threshold amount based on certain internal milestones. This has resulted into increase in revenue by Rs 366,769 thousands and Profit for year by Rs 81,723 thousands.

Notes :

1. Provision for Warranties are estimated based on past obligations and are expected to be settled within next 15 to 18 months.

2. Provision for Contract losses are based on the current ascertained difference between future revenues & cost.

3. Figures in brackets are for previous year.

6. VALUE ADDED TAX ['VAT's]

Consequent to introduction of Value added tax in certain states, adjustments of eligible VAT credit pertaining to inventories on hand on the date of implementation by respective states have been done in accordance with guidelines prescribed by Institute of Chartered Accountants of India

7. EXCISE DUTY

Excise Duty on sales for year has been disclosed as a reduction from the turnover. Excise duty relating to the difference between Closing stock & opening stock has been included in Schedule 17 'Other Manufacturing , Administration & selling expenses'.

 

 

 

 

 

Home | Services | Market News | General News | Bookmark Us| Rss Feeds | Blog | Archive | Currency Converter | Site Map | About Us | Contact Us
 Mutual Funds Forthcoming IPO'sStock Market Glossary 
Comp. Profile | Bal. Sheet | P&L | Half-Yearly Results | Notes to Accounts | Financial Ratios | Yearly High-Lows | History | Capital Structure | Board of Directors | Share Holding Pattern | Key Executives
 
Disclaimer: Trading and investing in commodities & stocks is high risk activity. Any action you choose to take or make in the stock market is totally your own responsibility. Source2update.com Resources
   will not be liable for any, indirect or direct, incidental or consequential damages or loss arising out of the use of this information.Add Url
Disclosure: The information at this website is neither an offer to sell nor solicitation to buy any of the securities mentioned in here. The writers may be or may not be trading on the Link To Us
   securities mentioned. Advertise With Us
  Copyright 2009 source2update.com All rights reservedDisclaimerGadgets