De Nora India Ltd.

Indian Stock Market

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'Notes to Accounts' De Nora India Ltd.

1. Estimated amounts of contracts remaining to be executed on capital account & not provided for as on 31st December, 2007 aggregate Rs. 1,586,772 [previous year Rs. 3,489,911s].

2. Advances recoverable in cash or in kind include amounts due from officers Rs. 3,608 [previous year Rs. 2,130s]. The maximum amount outstanding from officers at anytime during the period was Rs. 392,780 [previous year Rs. 272,941s].

3. Accelerated Depreciation

During the year, an evaluation of balance useful lives of the Companys equipment forming a part of Companys Plant & Machinery was carried out by independent valuers appointed by Company. On the basis of evaluation, the Comp. has accelerated its depreciation charge. The rates applied are numerous & can't be meaningfully listed in the financial statements. As a result, the depreciation charge for year is higher by Rs. 2,951,055 & the profit for the year, after adjusting the reduction in deferred tax liability of Rs. 1,003,064, lower by Rs. 1,947,991.

4. In accordance with the revised Accounting Standards Interpretation [ASIs] 14 on 'Disclosures of Revenue from Sales Transactions' issued by the Institute of Chartered Accountants of India, excise duty collected from customers against sales has been disclosed as a deduction from turnover [i.e. sales and servicess]. The difference in excise duty on the opening & closing stocks of finished goods, adjusted for excise duty which is absorbed as part of its cost by Comp. [such as excise duty on intermediate productss] which resulted in an income of Rs. 433,096 [previous year income Rs. 2,715,618s] has been adjusted against expenditure classified under 'Excise Duty, Sales Tax & Service Tax'.

 

 

 

 

 

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