ഹോം  »  Company  »  Aanchal Ispat Ltd.  »  Quotes  »  Notes to Account
കമ്പനിയുടെ പേരിലെ ആദ്യത്തെ കുറച്ച് അക്ഷരങ്ങള്‍ എന്റര്‍ ചെയ്യൂ, അതിന് ശേഷം 'ഗോ' എന്നതില്‍ ക്ലിക്ക് ചെയ്യൂ

Notes to Accounts of Aanchal Ispat Ltd.

Mar 31, 2018

1.01General Corporate Information

M/s AANCHAL ISPAT LIMITED (the company) is a public limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The shares of the company are listed on Bombay Stock Exchange. The company caters to domestic markets only. The company has been incorporated with the object of manufacturing of Mild Steel TMT Re-bars, Structural Re-bars, Round and other Sectional products.

The Company also engages in trading of Mild Steel Billets, Cement and Clinker and TMT and Structural Re-Bars.

The financial statements are presented in Indian Rupee (INR) which is also the functional currency of the company.

1.02Application Of New And Revised Ind As

The Company has adopted Indian Accounting Standards (Ind AS) as notified by the Ministry of Corporate Affairs with effect from 1st April 2017, with a transition date of 1st April 2016. The adoption of Ind AS has been carried out in accordance with Ind AS 101, First-time Adoption of Indian Accounting Standards. Ind AS 101 requires that all Ind AS standards and interpretations that are issued and effective for the ''first Ind AS financial statements'' for the year ended 31st March 2018, be applied retrospectively and consistently for all financial years presented. However, in preparing these Ind AS financial statements, the Company has availed of certain exemptions and exceptions in accordance with Ind AS 101, as explained in note 4. The resulting difference between the carrying values of the assets and liabilities in the financial statements as at the transition date under Ind AS and Previous GAAP have been recognised directly in retained earnings.

1. The mode of valuation of Inventory stated in note no.2.11

2. For details of carring amount of inventories pledged as security for secured borrowings refer note 17.

(a) No trade or other receivable are due from directors or other officers of the company either severally or jointly with any other person.

(b) Trade receivable are pledged on pari passu first charge against working capital demand loans from Karur Vysya Bank refer note 17.

3. Terms/rights attached to Equity Shares

a. The Company has only one class of equity shares having a par value of Rs. 10 each. Each holder of one equity share is entitled to one vote per share.

b. In the event of liquidation the equity shareholders are eligible to receive the remaining assets of the Company after payment of all preferential amounts in proportion to their shareholding.

c. No Equity shares have been reserved for issue under options and contracts/commitments for the sale of shares / disinvestment as at the Balance Sheet date.

a) Cash credit facility (working capital loan) is payable on demand and effective interest rate of cash credit facility is 10.65% p.a. Working capital demand loans from bank is secured by hypothecation of movable raw material, stores and spares, book debts and other current assets. properties, finished Goods, semi Finished Goods.

3.1 Disclosures required under Section 22 the Micro, Small and Medium Enterprises Development Act, 2006:

The Company is in the process of identifying the suppliers, who would be covered under the Micro, Small and Medium Enterprises Development Act, 2006. In this process the Company has given notice to its vendor/suppliers to inform about whether any of them are registered under the said Act. The Company has not yet received any information about such registration from the vendors. Such information will be provided as and when confirmation is received from them.

3.2 In the opinion of the Board, the current assets have value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet.

The information above has been compiled to the best of knowledge and as per the information available with the management to the extent to which parties would be identified as Micro, Small and Medium Enterprises and relied upon by the auditors.

4.01. There are no amounts that are due to be transferred to the Investor Education and Protection Fund in accordance with the relevant provisions in Companies Act 2013, and accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014 made there under.

5: Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.


Mar 31, 2015

1. The above financial Results have Been prepared on Standalone Basis.

2. The above Audied Financials Result after review by the audit Committee where approved by the board of Directors at its meeting held on 30.O5.J015

3. Revised Schedule III to Companies Act 2013.

4. During the year Company has allotted 80,04,000 equity Shares of the Face value Rs.10 each to promoters and Mon-promoters.

5. TtmiB nphts attached to equity shares

the company has only ona dass of equity shares liavlnga par value of Rs. 10 per share. Each holder of equity shares Ls entiled one vote per share, hi the event ?f liquidation of the company, the holders of equity share wlli be entitled to receive remaining assets of the company, after distribution of all perferntial amounts. The distribution wlS be In proportion to (he number of equity shares held by the shareholders

6. The Company has alloted 85,66,500 fully paid up equity share of face value Rs. 10 each during the year ended march 31,2015 pursuant to a bonus Issue approved by the shareholders. Bonus issue was made utilizing the Share Premium Reserve.

7. During the YEAR; the company has made an initial public offer(IPO) of 80,04,000 number of equity share ji Rs. 10 each. The equity share have been priced and allotted at Rs. 20 per equity share(including share premium at Rs.10 per equity share).

8. The company has raised Rs. 16,00,80,000 out of IPO. The equity share offer to ther public have been allotted on 6th December, 2014 and have been listed in Bombay Stock ExchangejUSB) on 10th Deccrnder 2014. Accordingly issued and paid up share has increased from Rs. 4,23,32,500 to Rs. 12,28,72500 and an amount of Rs. 8,00,40,000 has been Credited to Securities premium account. The proceeds of the issue are being utilized for the purpose mentioned in the pnospectus/retained in the Bank deposit pending utilization.

9. The SME / Lap residence Loan from Standard Chartered Bank carries interest at 15.25% per annum. The loan is repayable in monthly installa-ments of Rs. 147354.00 from the date of first disbursment. The loan is Secured by Property of Director.

10. Cash Credit from kaiur vysya bank Ls secured by (a) Hypothecation of present and future stocks of raw materials, work-in-process, finished goods, consumables, stores and spares, book debts, money' receivables, :rights and other movable assets excluding bills purchascd'discounted by bank and bills against which advance has been paid which belong to the Company and lb} Second charge and mortgage on immovable properties of the Company.

Basic and diluted earnings per shares ii computed by dividing the net profit attributable to equity share holders for the year, by the weighted average number of equity shares outstanding during the year, for the purpose of calculating diluted earning per share, the net profit or loss for the year attributable to equity share holders and the weighted average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares.

11. related partiy disclosure

Namia of related parties and related parly relationship

Mr. Mukesh Goel - Promoter / Managing Director

Mr. Manoj Goel - Promoter Director

Pratik Suppliers Private limited - Promoter Company

Mr. Sitaram Goyal - Relative of Directors

Mu. Maina Devi Coe] - Relative of Directors

Mu. Rashmi Cod - Relative of Directors

Mrs. Kanju Gael - Relative of Directors

Mrs. Monika C oel - Relative of Directors

AanchaJ Collection Limited - Croup Company

Aanchal Cement Limited - Ctoup Company

Aanchal Iron fe Steels Private Limited - Croup Company

Kalayani Rice Mills Private Limited - Croup Company

Maina Securities Private Limited - Croup Company

Haldia Alloys & Ispat Private Limited - Group Company

khush Metalliks Private limited - Group Company

Penguin Creation Private limited - Croup Company

Jaya Rice Mills Private limited - Croup Company

MukesH gOEL HUF - Croup Entity

Manoj Gael HUF - Croup Entity

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