ASSAM PETROCHEMICALS LIMITED: Balance Sheet as at 31st March, 2008.

Transcription

1 ASSAM PETROCHEMICALS LIMITED: Balance Sheet as at 31st March, I II As at As at Schedule: Rs. Rs. SOURCES OF FUNDS: Share Capital 1 91,259,720 91,259,720 Reserve & Surplus 2 691,650, ,735,386 Deferred Tax Liability 15,912,329 19,421, ,822, ,416,790 APPLICATION OF FUNDS: Fixed Assets- 3 Gross Block 696,870, ,591,840 Less: Depreciation 561,983, ,286,201 Net Block 134,886, ,305,639 Capital work-in-progress 4 2,719,269 2,274, ,606, ,579,948 Investments 5 15,601,204 33,500,000 Current Assets,Loans & Advances Inventories 6 88,901,968 84,814,267 Sundry Debtors 7 9,692,192 29,193,091 Cash & Bank Balances 8 559,776, ,378,254 Other Current Assets 9 24,048,601 10,075,482 Loans & Advances ,164, ,637, ,583, ,098,933 Less: Current Liabilities & Provisionsa) Liabilities 11 88,201, ,480,583 b) Provisions ,767,428 68,281, ,969, ,762,091 Net Current Assets- 645,614, ,336,842 Miscellaneous Expenditure: Preliminary & Pre-Operative Expenses (to the extent not written off or adjusted) ,822, ,416,790 Accounting Policies Notes on Accounts 24 Per Report annexed A..Saha Mrs. Ruli Das Sen S.Bhowmick Dy.GM(F&A) Company Secretary Partner For U.C.MAJUMDAR & CO. Chartered Accountants June : 2008 O.P.Tailor Guwahati. Managing Director Director

2 INCOME: ASSAM PETROCHEMICALS LIMITED: Profit & Loss Account for the year ended 31st March, 2008 Current Previous Year Year Schedule: Rs. Rs. Turn Over ,011, ,772,585 Less:- Duties & Taxes 114,076,139 98,970, ,935, ,801,964 Other Income 14 46,985,788 32,883,646 OUTGOINGS: 625,921, ,685,610 Raw Materials Consumed ,885, ,185,074 Manufacturing Exoenses 16 81,126,786 80,676,272 Employees Remuneration & Benefits ,636, ,608,792 Administration Overheads 18 12,185,033 10,435,283 Finance Charges 19 1,771, ,166 Selling & Distribution Overheads 20 7,574,935 10,018,167 Provision for Doubtful Debts/Advances/Investments 2,707, Provision for Excise Duty on Finished Stock Preliminary Expenses Written off - 17,326 Increase (+) Decrease (-) in Stock 22 6,470,973 3,668,085 Depreciation 16,043,092 31,114, ,878, ,351,083 Profit before Tax before Extra-Ordinary items 146,042, ,334,527 Extra Ordinery Item - Transport Subsidy Prior Period Adjustment: Debit(-)/Credit(+) , ,513 Profit before Tax 149,526, ,269,976 Provision for Tax: Income Tax 55,000,000 27,986,900 Fringe Benefit Tax 1,485,920 1,690,014 Earlier Year ( ) 5,878, ,130 Deferred Tax -3,509,355-8,639,671 Net Profit after Tax ,671, ,536,603 Balance brought forwarded from last year 101,866,721 97,353,964 Amount available for appropriation 192,538, ,890,567 Transferred to General Reserve 101,866,721 97,353,964 Proposed Dividend 9,119,947 9,119,947 Tax on Ddividend 1,549,935 1,549,935 Balance carried to Balance Sheet 80,001, ,866, ,538, ,890,567 Earning per share of Rs. 10 each- basic and diluted (Rs) S.Bhowmick A..Saha Mrs. Ruli Das Sen Partner Dy.GM(F&A) Company Secretary For U.C.MAJUMDAR & CO. Chartered Accountants June : 2008 O.P.Tailor Guwahati. Managing Director Director

3 Schedule to Accounts As at As at Schedule: Share Capital: Rs. Rs. Authorised : Equity Shares of Rs10 each 150,000, ,000, Redemable Cumulative Preference Shares of Rs.100 each 20,000,000 20,000, ,000, ,000,000 Issued & Subscribed Equity Shares paid in full 91,199,470 91,199,470 Add:- Amount paid on Forfeited Shares 60,250 60,250 91,259,720 91,259,720 Of shares, shares are held by Assam Industrial Development Corporation Ltd, the holding company 2 Reserves & Surplus: Capital Reserve 13,625 13,625 Capital Subsidy 737,651 Less:- Transferred to Profit & Loss A/c 86, , ,651 Capital Redemption Reserve per last account 11,029,100 11,029,100 General Reserve: per last account 498,088,289 Add: Transfer during the year 101,866, ,955, ,088,289 Profit & Loss Account 80,001, ,866, ,650, ,735,386 4 Capital Work in Progress Water Treatment Plant - - Capital Power Project 2,719,269 1,446, TPD Methanol Project 827,338 2,719,269 2,274,309 5 Investments: Unquoted unless otherwise stated 2 Nos 9.5% UCO Bonds Rs /- each,at cost - 1,000,000 SBI Liquid Floater Fund (Market Value Rs /-) 7,601,204 22,500,000 Investment in Subsidiary Company 10,000,000 10,000,000 Less: Provision (100,000 Equity Shares of Rs.100/- each 8,000,000 in Pragiyotish Fertilizer & Chemicals Ltd.) 15,601,204 33,500,000 6 Inventories: Stock of Finished Goods (at cost or market 6,489,315 12,630,685 value whichever is lower) Stock in Process, at cost 461, ,966 Stock of Rawmaterials & Chemicals, at cost 26,284,508 20,053,267 Stock of Building Materials, at cost 2,243,496 2,008,806 Stock of Stores & Spares, at cost 53,423,286 49,330,543 88,901,968 84,814,267 7 Sundry Debtors: Debts over six months 817, ,259 Other Debts 9,677,815 29,176,381 10,495,733 29,996,640 Less:- Provision for Doubtful Debts 803, ,549 9,692,192 29,193,091

4 As at As at Schedule: Rs. Rs. 8 Cash & Bank Balances: Cash in hand 183, ,536 Balance with Scheduled Banks in current A/c 8,922,635 22,082,251 Fixed Deposit with Scheduled Banks 543,146, ,244,823 Cheques / DD in Hand 7,210,712 6,431,374 Unpaid Dividend 312, , ,776, ,378,254 9 Other Current Assets: Interest Receivable 21,847,851 7,874,732 Discarded Assets (held for sale) 2,200,750 2,200,750 24,048,601 10,075, Loans and Advances: (unsecured, considered good, unless otherwise stated) Advance recoverable in cash or kind or for value to be recived 3,650,976 3,275,676 (considered doubtful Rs.750,000;previous year Rs.750,000) Pragiyotish Fertilizer & Chemicals Ltd, a subsidiary company Loan 3,236,585 2,936,585 Share Application money 300, ,000 Less: Provision ,829,268 Advance to Suppliers 1,954,540 2,618,181 Advance to Staff 4,054,381 2,215,174 Advance to Others 3,156,517 2,068,515 Loan - Staff 22,187,810 22,268,759 Loan to Assam Tea Corporation 5,000,000 - Prepaid Expenses 4,455,124 4,770,399 Security & Other Deposits 11,391,983 11,537,334 (considered doubtful Rs ;previous year Rs.153,750) Advance Incometax/FBT 114,214,215 63,833,507 Excise, Sales Tax, Service Tax & Cenvat 3,132,434 5,601,485 Insurance Premium Refund Receivable 8,386 1,301,785 CST, AGST & VAT Refund Receivable 1,032,605 13,814, ,068, ,541,589 Less: Provision for Doubtful Advance 903, , ,164, ,637, Liabilities: Creditors for Goods & Services 21,986,505 26,070,525 Creditors for Goods & Services(SMEs) - - Liabilities of Employees Remuneration & Benefits 24,959,481 59,500,526 Statutory Dues 24,986,041 36,205,585 Earnest Money & Security Deposit 3,736,760 4,835,985 Advance from Custemers 12,336,093 10,276,797 Unpaid Dividend 196, ,821 Other Liabilities - 441,344 88,201, ,480, Provision Dividend 9,119,947 9,119,947 Incomes Tax on Dividend 1,549,935 1,549,935 Income Tax & Fringe Benefit Tax 114,097,546 57,611, ,767,428 68,281,508 Schedule: Current Previous

5 Year Year 13 Turnover (Including Duties & Taxes): Rs. Rs. Methanol 332,107,629 Less:- Trade & Quantity Discount 6,460, ,647, ,466,729 Formalin 375,522,451 Less:- Trade & Quantity Discount 8,158, ,363, ,305, ,011, ,772, Other Income: Interest Income: From Bank on Fixed Deposit, Bonds and Loans & Advances 42,058,908 28,980,235 (TDS Rs.26,43,924/- Previous year Rs.40,60,616/-) On Staff Loan 1,000,370 1,051,627 Income Tax Refund & others 1,326 - Recoveries from Staff against amenties 764, ,283 Dividend Received on Investment Profit on sale of Fixed Assets 26,500 - Subsidiy - Power - - VAT & CST Remission 326,669 - Sales Tax Refund - - Exchange Rate Fluctuation - - Sale of Scrap 233, ,417 Capital Subsidy written back 86,783 86,783 Miscellaneous Receipt 833,050 1,863, ,985,788 32,883,646 Raw Materials Consumed: Natural Gas 144,476, ,825,432 Chemicals & Catalysts (including purchase of Methanol -Nil 2,409,286 19,359,642 Previous Year MT) 146,885, ,185, Manufacturing Expenses: Power & Fuel 64,316,036 57,124,993 Water Charges 537, ,870 Consumption of Stores & Spares 8,296,180 15,048,161 Freight on Purchase 453, ,391 Repoairs - Machinery 3,991,580 3,195,900 Building 308, ,643 Entry Tax 333, ,842 Insurance Charges 2,889,842 1,072,171 Excise on Finished Stock - 1,900,301 81,126,786 80,676, Employees Remuneration & Benefits: Salary & Wages 143,860, ,947,484 Bonus, Exgratia & Production Incentive 3,278,000 7,161,887 Voluntary Retirement Exgratia - 5,185,408 Contribution to Provident Fund & Pension Schemme 22,071,459 11,714,480 Contribution to Gratuity Trust 8,235,530 1,819,979 Remuneration & Benefits to Managing Director 853, ,589 Local Travel Expenses 5,540,180 5,834,185 Contribution to Group Leave Encashment 9,422,234 5,374,408 Other Benefits to Employees 12,350,524 8,994,812 Stipend to Trainees 24,761 15, ,636, ,608,792 Schedule to Accounts: Current Previous

6 Schedule: Year Year Rs. Rs. 18 Administration Overheads: Printing & Stationary 729, ,196 Postage & Telephone 477, ,163 Advertisement 106, ,620 Travelling Expenses:- Chairman 150,968 54,278 Directors 208,529 41,302 Managing Director 359, ,802 Staff & Others 1,388,714 1,534,489 Statutory Audit Expenses:- Audit Fees 35,000 35,000 Fee for Other Service - - Reimbursement of Expenses 2,259 - Legal & Professional Charges 231, ,397 Rent 18,000 18,000 Taxes & Fees 826, ,871 Maintenance & Hire Charges of Vehicles 988,173 1,243,740 Civil & Other Maintenance 3,869,804 1,825,638 Township & Guest House Maintenance 1,210, ,269 Factory Sweeping 424, ,434 Maintenance Hospital Other 81, ,009 Honorarium & Benefits to Chairman 47,989 0 Sitting Fees to Directors 55,500 34,500 Entertainment Expenses 291, ,245 Social Overheads 375, ,524 Miscellaneous Expenses 303, ,806 12,185,033 10,435, Finance Charges: Exchange Rate Fluctuation Interest - - Interest on Cenvat/ GTA/Sales Tax Bank Charges 444, ,545 1,771, , Selling & Distribution Expenses: Dealership Commission: Methan ol 3,652,697 4,174,982 Formali n 3,729,107 3,940,950 Sales Promotion & Additional Freight ,574,935 10,018, Provision of Excise Duty on F/Stock No Longer Required: Excess Provsion of Excise Duty on Finished Stock Increase / Decrease in Stock: Opening Stock Finished Stock 12,630,685 17,066,343 Stock in Process 790,966 23,393 13,421,651 17,089,736 Closing Stock

7 Finished Stock 6,489,315 12,630,685 Stock in Process 461, ,966 6,950,678 13,421,651 Increase (+) Decrease (-) 6,470,973 3,668, Prior year Adjustment Account: Current year Previous Year Debit Credit Debit Credit Rs. Rs. Rs. Rs. Purchase A/c - 517,549-15,135 Sales A/c ,400 Insurance 264, ,885 Works Bill ,907 - Establishment - 16,120 CENVAT/Excise Duty & CST) , ,420 Net (Credit) -409, , Significant Accounting Policies: 1. Basis of Preparation of financial Statements: The financial statements are prepared under the histrocial cost convention in accordance with the generally accepted accounting principles in India and the provisions of the Companies Act, ' Use of Estimates: The preparation of financial statements requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Difference between the actual results and estatemates are recognized in the period in which the results are known/ materialized. 3. Fixed Assets: Fixed Assets are stated at cost net of modvat / cenvat/ value added tax and include amounts added on revaluation, less accumulated depreciation and impairment loss, if any.all cost, including financing cost till commencement of commercial production,net of charges on foreign exchange contracts and adjustments arising from exchange rate variations attributable to the fixed assets are capitalized. In case of assets discarded / retired from active use held for disposal are stated at the lower of their net book value and net realizable value and shown separately in the fcurent assets schedule. Project under commissioning and other Capital Work-in-Progress are carried at cost comprising direct cost, related incidental expenses and attributable interest. 4. Derpeciation: Depreciation on fixed assets is provided on written down value method except fixed assets pertaining to Plant & Machinery on which depreciation is charged on straight line method (SLM) at the rate and in the manner prescribed in Schedule XIV to the Companies Act Impairment of Assets: An asset is treated as impaired when the carrying cost of assets exceeds its recoverable value. An impairment loss is charged to the Profit and Loss Account in the year in which an asset is identified as impaired.the impairment loss recognized in prior accounting period is reversed if there has been a change in the estimate of recoverable amount. 6.Foreign Currency Transactions: (a) Transaction denominated in foreign currencies are normally recorded at the exchange rate prevailing at the time of the transaction.

8 (b) Monetary items denominated in foreign currencies at the year end are restated at year end rates (c) Any income or expenses on account of exchange difference on translation is recognized in the profit & loss account except in cases where they relate to acquisition of fixed assets in which case they are adjusted to the carying cost of such assets. 7. Investments: Current investments are carried at the lower of cost and quoted / fair value, computed category wise. Long Term Ins\vestments are stated at cost Provision for diminution in the value of long term investments is made only if such a decline is other than temporary in the opinion of the management. 8. Inventories: Items of inventories are measured at lower of cost or net realizable value, after providing for obsolescence, if any. Cost of inventories comprises of all cost of purchase, cost of conversion and other cost incurred in bringing them to their respective present location and condition. Cost of raw materials, process chemicals, stores and spares, packing materials, and other products are determined on weighted average basis. Cost of Work-in-Progress and finished stock is determined on absorption costing method on FIFO basis. 9. Turnover: Turnover is recognized when goods are supplied / despatched. 10. Excise Duty: Excise duty is accounted on the basis of, both, payments made in respect of goods cleared as also provision made for goods lying in excise bonded tank. 11. Employees Retirements Benefits: Company's contribution to Provision & Pension Fund is charged to Profit and Loss Account. Gratuity and Leave Encashment Benefit are charged to Profit and Loss Acount on the basis of certificate issued by Life Insurance Corporation of India, with whom policies are taken, based on their actuarial valuation. 12. Borrowing Cost: Borrowing cost that are attributable to the acquisition of qualifying assets are capitalised as part of the cost of such assets. A qualifying asset is one that necessarily takes substantial period of time to get ready for intended use. All other borrowing cost are charged to revenue. 13. Provision for Current and Deferred Tax: Provision for current tax made after taking into consideration benefits admissible under the provisions of the Income Tax Act,1961. Deferred tax resulting from "timing difference" between book and taxable profit is accounted for using the tax rates and laws that are enacted or substantially enacted as on the balance sheet date. The deferred tax asset is recognized and carried forward only to the extent that there is a reasonable certainty that the asset will be realized in future. 14. Employee Separation Costs: Compensation to employees who have opted for retirement under the voluntary retirement scheme of the Company is debited to the profit and loss account in the year of payment. 15. Provision, Contingent Liabilities & Contingent Assets: Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation as a result of post events and it is probable there will be an autflow of resources. Contingent Liabilities are not recognised but are disclosed in the notes. Contingent assets are also not recognized in the financial statement. 16. Segment Reporting: The accounting policies adopted for segment reporting are in line with AS-17 as issued by the Inst-

9 itute of Chartered Accountants of India and the same accounting policies of the company are followed for the Segment reporting. Revenue expenses have been identified to segments on the basis of their relationship to the operating activities of the segment and common expenses / income are allocated to segment on a reasonable basis.management has identified three reportable business segments namely Methanol & Formalin 17. Government Grants and Subsidies: Government grants / subsidies related to depreciable fixed asstes are treated as deferred reserve which is allocated to income over the period and proportions in which depreciation on those assets is charged. Government grant / subsidies related to revenue (like transport subsidy, power subsidy etc) are recognised as income in the year of receipt instead in the year to which it pertains due to the uncertaibty and abnormal delay attached to the same. 25 Notes on Accounts 1) Information required by Paragraphs 3 and 4 of Part II of Schedule VI to the Companies Act,1956. Production, Purchases, Sales and Stocks Ac Capacities tual Production Class of goods Unit Licienced Installed Current year Previous Year Methanol (Unit-II) MT 33,000 33,000 31,373 26,797 Formalin (Unit-II) MT 33,000 33,000 26,906 25,975 Liquid CO2 NM3/HR Purchase Methanol MT Sales Curre nt Year Previ ous Year Class of goods Unit Quantity MT Rs. Quantity MT Rs. Methanol MT 18, ,647,600 15, ,466,729 Formalin MT 26, ,363,961 25, ,305, ,011, ,772,585 Stocks Opening Stock Closing Stock Class of goods Unit Quantity MT Rs. Quantity MT Rs. Methanol MT ,602, ,213,570 (17,045,720 (1, ) ) ( ) (11,602,641) Formalin MT ,028, ,745 (2.182) (20,623) (94.445) (1,028,044) 12,630,685 6,489,315 (17,066,343 ) (12,630,685) Work in Process:- Opening Stock Clo sing Stock Class of goods Unit Quantity MT Rs. Quantity MT Rs. Formalin MT , ,363 (3.130) (23,393) (93.130) (790,966) Raw Materials Consumed:- Current Year Previous Year

10 Class of Goods Unit Quantity MT Rs. Quantity MT Rs. Natural Gas 1000Sm3 38, ,476,376 30, ,825,432 Methanol MT 13, Captive 12, Captive Chemicals including purchased Methanol 2,409,286 19,359, ,885, ,185,074 Value of Raw Materials, Stores & Spares Consumed:- Current Year Previous Year Raw Materials Rs. % Rs. % Imported Indigenous 146,885, ,185, ,885, ,185, Stores & Spares Imported Indigenous 8,296, ,048, ,296, ,048, Value of Imports on CIF Basis Rawmaterials - - Component Spare Parts $ Euro GBP Expenditures on Foreign Currency GBP Foreign Curency Remitance - - on account of dividend - - Earning in Foreign Exchange 18,761,195 13,939,273 Export of Goods Calculated on F.O.B Basis $457,414 $339,788 Expenditure on Foreign Travel by MD Nil 2) Contingent Liabilities: on account of Sales tax demand Nil Nil 3) Estimated amount of contracts remaining to be executed on capital account and not provided for Rs. Nil, (Previous Year Nil) 4) Income Tax for the accounting year Rs.29,39,476 has not been paid and company initiated an application u/s154 of the Income Tax Act, ) Pragjyotish Fertilizer & Chemicals Ltd (PFCL) a subsidiary of the company has not finalised its accounts for & and therefore Sec.212 of the Comapnys Act 1956 could not be complied with. 6) Deferred Tax Liability as per AS-22:

11 (As on ) (As on ) Opening Balance Less : Difference in Book Depreciation & Tax Depreciation Less : Statutory Liability (Gratuity) _ Add : VRS expenses to be allowed in Tax Closing Liability ) Related Party Disclosure: As per accounting Standard 18 issued by the Institute of Chartered Accounts of India,the disclosure of transaction with related parties as defined in the accounting standard are given below: i) List of related parties with whom transaction have taken place and relationship: Pragiyotish Fertilizer & Chemicals Limited Assam Industrial Development Corporation Ltd Shri Om Prakash Tailor ii) Transaction during the year (Excluding reimbursement) Subsidiary Company Holding Company Key Managerial Person A Pragiyotish Fertilizer & Chemicals Limited: Opening Balance Rs. Investment in Equity Share 10,000,000 Loans 2,936,585 Advance Nil Share application money 300,000 Transactions: Net movement in loans Nil Net movement in advance Net movement Share application money paid Nil Subscriptions/Purchase of Equity Shares Nil Closing Blance: Investment in Equity Shares 10,000,000 Loans 3,236,585 Advances Nil Share application money 300,000 The PFCL Project is not progressing pending sanction of Term Loan and settlement of land matter. In view of this Rs i.e. 20% of Equity investment of Rs and advance of Rs (including Share Application money) has been provided for in the books of accounts. B Key Managerial Personnel Sri Om Prakash Tailor: Remuneration & benefits as Managing Director Rs. 853,511 C Assam Industrial Development Corporation Ltd: Payment of Dividend during the year Rs. 8,041,500

12 8) Segmentwise Results As per AS-17: Segment Methanol Formalin Enterprise Particulars Nett Revenue Less : Cost of sales Segment Profit Add : unallocated Total Deployment of Capital employed Fixed Assets Unallocated Total Fixed Assets WIP Net Current Assets (apportioned in the ratio of segment Revenue other than I/tax provision & Dividend) Provision for Tax & dividend (unallocated) Total ) Gratuity as per AS-15: Defined Contribution Plan.: Contribution to Defined contribution Plan, are recognized and charged to Profit & Loss Account as Employer s Contribution to Provident Fund.Rs.165,49,069/- Defined Benefit Plan: The company provides for Gratuity which is applicable to all permanent and full time employees of the company which is unfunded Gratuity paid out is based on last drawn basic salary and dearness allowance at the time of termination or retirement. The Gratuity scheme takes into account each completed year of service or part thereof in excess of six months. The normal age of retirement is years. The annual contribution is borne by the company, based on actuarial valuation carried out them at the year end. (Rs.) A Expense recognized in the statement of Profit & loss account for the ended Current Service cost 82,35,530 Interest Cost -- Expected return on plan assets -- Net actuarial (gain)/loss recognised during the -- Total Expense 82,35,530 B Actual return on plan assets -- Expected return on Plan Assets -- Actuarial gain/(loss) on plan assets -- Actual Return on Plan Assets C Net Asset/(Liability) recognized in the Balance Sheet

13 Present Value of the obligation (66,44,855) Fair value of Plan assets -- Funded status (surplus/(deficit)) -- Unrecognised past service cost -- Net Asset/(liability) recognized in the Balance (66,44,855) D Change in Present value of the obligation during the year ended 31st March, 2008 Present value of obligation as at ,72,792 Current Service cost 13,99,189 Interest cost 57,14,154 Benefits paid 35,18,495 Acturial(gain)/loss on obligation -- Present value of obligation as at ,67,640 E Change in Assets during the year March 31, Fair value of plan assets as at Expected return on plan assets -- Contributions made -- Benefits paid -- Acturial gain/ (loss) on plan assets -- Fair value o plan assets as at F Major categories of plan assets as a percentage of total plan -- G Acturial Assumptions Discount rate 8% Interest rate 9.30% Expected rate of return on plan assets -- LIC(1994- Mortality rate 96)Ultimate Salary increase 3% 10) Previous year's figures have ben recasted and re-arranged wherever necessary to make them comparable with the current year's figures. 11) Schedule to balance Sheet & Profit & Loss Account form an integral part of the Balance Sheet and Profit & loss Account Balance Sheet Abstract and Company's General Business Profile: I II Registration Details- Registration No State Code 02 Balance Sheet Date Capital raised during the year: (Amount in Rs. Thousand) Public Issue Nil Right Issue Nil Bonus Issue Nil Pvt.Placement Nil III Position of Mobilisation and Deployment of Fund- (Amount in Rs. Thousand) Total Liabilities 1,011,791 Total Assets 1,011,791 Sources of Funds- Application of Funds- Paidup Capital Net Fixed Assets

14 Secured Loan 0 Net Current Assets Defered Tax Liability Accumulated Losses 0 Reserve & Surplus Investment Unsecured Loan 0 Misc.Expenditure IV Performance of Company: (Amount in Rs. Thousand) Turnover Total Expenditure Profit before Tax Profit after Tax Earning per Share 9.94 Dividend 10% V Generic Names of Three Principal Products/Services of the Company: Product description - Methanol Item code number Product description - Formalin Item code number