Notes to Accounts of Govind Poy Oxygen Ltd.

Mar 31, 2014

1) Corporate Information

The Govind Poy Oxygen Ltd is a company registered under Companies Act, 1956. The shares of the company is listed with Bombay Stock Exchange (BSE). The Company is in the business of production and trading of Medical Oxygen, Industrial Oxygen, Argon, Nitrogen, Dissolved Acetylene, etc.

2) Share Capital

The Company has only one class of shares referred to as equity shares with a face value of Rs. 10/- each. Each holder of equity share is entitled to one vote per share.

3) In the opinion of the Directors

i) Current Assets, Loans and Advances have at least the values at which they are stated in the Balance Sheet, realised in the Ordinary Course of

ii) All known liabilities other than contingent liabilities are provided for.

4) Contingent liabilities not provided for: Year ended Year ended Particulars 31.03.2014 31.03.2013 Rupees Rupees

Guarantees issued by the bank on behalf of the Company - 1,185,000

Disputed Excise Duty demands is in appeal before Supreme Court 670,488 670,488

5) Segment Information

The Company has identified two reportable segments viz. Gases and Investments. Segments have been identified and reported taking into account nature of products and services, the differing risk and returns and the internal business reporting systems. The accounting policies adopted for segment reporting are in line with the accounting policy of the Company with following additional policies for segment reporting.

(a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "Unallocable".

(b) Segment assets and segment liabilties represent assets and liabilities in respective segments. Tax related assets and other assets and liabilities that cannot be allocated to a segments on reasonable basis have been disclosed as "Unallocable".

6) Disclosure of transactions with related parties as required by Accounting Standard - 18 on related party disclosures as prescribed by Companies (Accounting Standards) Rules, 2006.

A Related parties and nature of relationship

i) Key Management Personnel

- Shri Sanjay A. Poy Raiturcar - Managing Director

- Shri Manohar S. Usgaonkar

- Shri Ashok Panvelkar

- Shri Nitin A. Kunkolienkar

- Mrs Binita S. Poy Raiturcar

- Shri Sudin M. Usgaonkar

ii) Enterprises over which persons in (i) above are able to exercise significant influence:

- Nasik Oxygen Co. Pvt. Ltd.

- Fabrica de Gas Carbonico Pvt. Ltd.

- Nalanda Agencies Pvt. Ltd.

- Venkatesh Automobiles

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Mar 31, 2013

1) Corporate Informatiou

The Govind Poy Oxygen Ltd is a company registered under Companies Act, 1956. The shares of the company is listed with Bombay Stock Exchange (BS''Et. The Company is in the business of production and trading of Medical Oxygen, Industrial Oxygen, Argon. Nitrogen, Dissolved Acetylene, etc.

2) Share Capital

The Company has only one class of shares referred to as equity shares with a face value of Rs. 10/- each. Each holder of equity share is entitled to one vote per share.

3) Figures have been rounded off to the nearest rupee. Previous year figures, unless otherwise stated are given within brackets and have been re-grouped and recast wherever necessary to be in conformity with current year''s layout.

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Mar 31, 2011

1. The figures for the previous year have been regrouped wherever necessary to conform to the presentation of the current year.

2. Depreciation on fixed assets has been provided during the year at the rates prescribed in Schedule XTV on written down method in accordance with the provisions of Section 205 (2) (b) of the Companies Act, 1956.

3. Contingent laibilities not provided for in respect of:

Guarantees given to Government Department / Others Rs 1,185,000/- (Previous Year Rs 1,185,000/-)

4. The closing stock of raw materials is valued net of excise duty paid thereon.

Note : The above remuneration paid to Managerial personnel is within the Schedule XUI to Co's Act, 1956 6. Licensed & Installed capacity, actual production, turnover, purchases, consumption, etc.

5 There are no overdues & interest payable to MSM Enterprises during the year & there are no such outstanding dues as at the year end.

6 Information on related party transactions as required by Accounting Standard - 18 for the year ended 31st March 2011

I. Directors/Ex : Shri Sanjay A. Poy Raiturcar

- Shri Manohar S Usgaonkar

- Shri Ashok Panvelkar

- Shri Nirin Kunkolienkar

- Mrs. Binita S. Poy Raiturcar

- Shri Sudin Usgaonkar

II. Companies / Firms over which Directors have significant influence or control

- Nasik Oxygen Co. Private Limited

- Fabrica De Gas Carbonico Pvt. Ltd.

- Nalanda Agencies Pvt. Ltd.

- Venkatesh Automobiles

7 Segment Information

The Company has identified two reportable segments viz. Gases and Investments. Segments have been identified and reported talcing into account nature of products and services, the differing risk and returns and the internal business reporting systems.The accounting policies adopted for segment reporting are in line with the accounting policy of the Company with following additional policies for segment reporting.

(a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "Unallocable".

(b) Segment assets and segment liabilties represent assets and liabilities in respective segments.Tax related assets and other assetes and liabilities that cannot be allocated to a segments on reasonable basis have been disclosed as "Unallocable".

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Mar 31, 2010

1. The figures for the previous year have been regrouped wherever necessary to conform to the presentation of the current year.

2. Depreciation on fixed assets has been provided during the year at the rates prescribed in Schedule XTV on written down method in accordance with the provisions of Section 205 (2) (b) of the Companies Act, 1956.

3. Contingent laibilities not provided for in respect of:

Guarantees given to Government Department / Others Rs 11,85,000/- (Previous Year Rs 13,60,000/-)

4. The closing stock of raw materials is valued net of excise duty paid thereon,

22 There are no overdues & interest payable to MSM Enterprises during the year & there are no such outstanding dues 9$ at the year end.

13. Information on related party transactions as required by Accounting Standard -18 for the year ended 31st March 2010

I. Directors/Ex

Shri Sanjay A. Poy Raiturcar Shri Manohar S Usgaonkar Shri Ashok Panvelkar Shri Nitin Kunkolienkar Mrs. Binita S. Poy Raiturcar Shri Sudin Usgaonkar

II. Companies / Firms over which Directors have significant influence or control

Nasik Oxygen Co. Private Limited Fabrica De Gas Carbonico Pvt. Ltd. Nalanda Agencies Pvt. Ltd. Venkatesh Automobiles

15 Segment Information

The Company has identified two reportable segments viz. Gases and Investments. Segments have been identified and reported taking into account nature of products and services, the differing risk and returns and the internal business reporting systems.The accounting policies adopted for segment reporting are in line with the accounting policy of the Company with following additional policies for segment reporting.

(a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "Unallocable".

(b) Segment assets and segment liabilties represent assets and Liabilities in respective segments.Tax related assets and other assetes and liabilities that cannot be allocated to a segments on reasonable basis have been disclosed as

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Mar 31, 2009

1. the figures for the previous year have been regrouped wherever necessary to conform to the presentation of the current year.

2. Depreciation on fixed assets has been provided during the year at the rates prescribed in Schedule XIV on written down method in accordance with the provisions of Section 205 (2) (b) of the Companies Act, 1956.

3. Contingent laibilities not provided for in respect of:

Guarantees given to Government Department / Others Rs 13,60,000/- (Previous Year Rs 13,60,000/-)

4. The closing stock of raw materials is valued net of excise duty paid thereon.

5. There are no overdues & interest payable to MSM Enterprises during the year & there are no such outstanding dues as at the year end.

6. Information on related party transactions as required by Accounting Standard -18 for the year ended 31st March 2009

I. Directors

Shri Sanjay A. Poy Raiturcar Shri Manohar S Usgaonkar Shri Ashok Panvelkar Shri Nitin Kunlienkar Mrs. Binita S. Poy Raiturcar

II. Companies / Firms over which Directors have significant influence or control

Nasik Oxygen Co. Private Limited Fabrica De Gas Carbonico Pvt. Ltd. Nalanda Agencies Pvt. Ltd. Venkatesh Automobiles

7 Segment information

The Company has identified two reportable segments viz. Gases and Investments. Segments have been identified and reported taking into account nature of products and services, the differing risk and returns and the internal business reporting systems.The accounting policies adopted for segment reporting are in line with the accounting policy of the Company with following additional policies for segment reporting.

(a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "Unallocable".

(b) Segment assets and segment liabilties represent assets and liabilities in respective segments.Tax related assets and other assetes and liabilities that cannot be allocated to a segments on reasonable basis have been disclosed as "Unallocable".