You are here » Home » Companies » Company Overview » Contil India Ltd

Contil India Ltd.

BSE: 531067 Sector: Financials
NSE: N.A. ISIN Code: INE080G01011
BSE 00:00 | 22 Apr 7.32 -0.08
(-1.08%)
OPEN

7.36

HIGH

7.75

LOW

7.30

NSE 05:30 | 01 Jan Contil India Ltd
OPEN 7.36
PREVIOUS CLOSE 7.40
VOLUME 305
52-Week high 11.23
52-Week low 5.79
P/E 12.20
Mkt Cap.(Rs cr) 2
Buy Price 7.31
Buy Qty 25.00
Sell Price 7.75
Sell Qty 10.00
OPEN 7.36
CLOSE 7.40
VOLUME 305
52-Week high 11.23
52-Week low 5.79
P/E 12.20
Mkt Cap.(Rs cr) 2
Buy Price 7.31
Buy Qty 25.00
Sell Price 7.75
Sell Qty 10.00

Contil India Ltd. (CONTILINDIA) - Auditors Report

Company auditors report

Report on the Audit of the Standalone Financial Statements

Opinion

We have audited the accompanying standalone financial statements of CONTIL INDIALIMITED ("the Company") which comprise the Balance Sheet as at March 31 2018and the Statement of Profit and Loss the Statement of Changes in Equity and the Statementof Cash Flows for the year then ended and notes to the financial statements including asummary of significant accounting policies and other explanatory information. The companydoes not have any branch/ es.

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at March 312018 and profit and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder section 143(10) of the Companies Act 2013. Our responsibilities under thoseStandards are further described in the Auditor's Responsibilities for the Audit of theFinancial Statements section of our report. We are independent of the Company inaccordance with the Code of Ethics issued by the Institute of Chartered Accountants ofIndia together with the ethical requirements that are relevant to our audit of thefinancial statements under the provisions of the Companies Act 2013 and the Rulesthereunder and we have fulfilled our other ethical responsibilities in accordance withthese requirements and the Code of Ethics. We believe that the audit evidence we haveobtained is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibility for the Standalone Financial Statements

The Company's Board of Directors is responsible for the matters stated in section134(5) of the Companies Act 2013 ("the Act") with respect to the preparation ofthese standalone financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the accounting Standardsspecified under section 133 of the Act. This responsibility also includes maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingof the assets of the Company and for preventing and detecting frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the financial statement that give a true and fair view andare free from material misstatement whether due to fraud or error.

In preparing the financial statements management is responsible for assessing theCompany's ability to continue as a going concern disclosing as applicable mattersrelated to going concern and using the going concern basis of accounting unless managementeither intends to liquidate the Company or to cease operations or has no realisticalternative but to do so.

Those Board of Directors are also responsible for overseeing the Company's financialreporting process.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financialstatements as a whole are free from material misstatement whether due to fraud or errorand to issue an auditor's report that includes our opinion. Reasonable assurance is a highlevel of assurance but is not a guarantee that an audit conducted in accordance with SAswill always detect a material misstatement when it exists. Misstatements can arise fromfraud or error and are considered material if individually or in the aggregate theycould reasonably be expected to influence the economic decisions of users taken on thebasis of these financial statements

Report on Other Legal and Regulatory Requirements

As required by Section 143(3) of the Act we report that:

a) we have sought and obtained all the information and explanations which to the bestof our knowledge and belief were necessary for the purposes of our audit.

b) in our opinion proper books of account as required by law have been kept by theCompany so far as it appears from our examination of those books.

c) the Balance Sheet the Statement of Profit and Loss including Statement of Changesin Equity and the Statement of Cash Flow dealt with by this Report are in agreement withthe books of account.

d) in our opinion the aforesaid standalone financial statements comply with the IndianAccounting Standards prescribed under section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

e) on the basis of the written representations received from the directors of theCompany as on March 312018 taken on record by the Board of Directors none of thedirectors is disqualified as on March 31 2018 from being appointed as a director in termsof Section 164(2) of the Act.

f) with respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate Report in "Annexure A". Our report expresses an unmodified opinion onthe adequacy and operating effectiveness of the Company's internal financial controls overfinancial reporting.

g) with respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 as amended inour opinion and to the best of our information and according to the explanations given tous:

1. The Company does not have any pending litigations which would impact its financialposition in its standalone financial statements.

ii. The Company do not have any long-term contracts including derivative contractswhich requires a provision to be made for material foreseeable losses if any

iii. There are no amounts which are required to be transferred to the InvestorEducation and Protection Fund by the Company.

2. As required by the Companies (Auditor's Report) Order 2016 ("the Order")issued by the Central Government in terms of sub-section (11) of section 143 of theCompanies Act 2013 we give in "Annexure B" a statement on the mattersspecified in paragraphs 3 and 4 of the Order to the extent applicable.

For P. INDRAJIT & ASSOCIATES

CHARTERED ACCOUNTANTS

ICAI Firm Regn. No. 117488W

(CA PIYUSHI. SHAH)

PROPRIETOR

M. No. -103665

Date : 30-05-2018

Place : Vadodara

Annexure A" to the Independent Auditors' Report to in paragraph 1(f) under theheading 'Report on Other Legal & Regulatory Requirement' of our report of even date tothe standalone financial statements of CONTIL INDIA LIMITED for the year ended March 312018:

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of CONTILINDIA LIMITED ("the Company") as of March 312018 in conjunction with our auditof the standalone financial statements of the Company for the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internalfinancial controls based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note on Audit of Internal Financial Controls Over Financial Reportingissued by the Institute of Chartered Accountants of India. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to company's policies the safeguarding of its assets the preventionand detection of frauds and errors the accuracy and completeness of the accountingrecords and the timely preparation of reliable financial information as required underthe Companies Act 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgement including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Company's internal financial controls systemover financial reporting.

Meaning of Internal Financial Controls Over Financial Reporting

A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that

(1) pertain to the maintenance of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company;

(2) provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally accepted accountingprinciples and that receipts and expenditures of the company are being made only inaccordance with authorisations of management and directors of the company; and

(3) Provide reasonable assurance regarding prevention or timely detection ofunauthorised acquisition use or disposition of the company's assets that could have amaterial effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at March 31 2018 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

For P. INDRAJIT & ASSOCIATES

CHARTERED ACCOUNTANTS

ICAI Firm Regn. No. 117488W

(CA PIYUSH I. SHAH)

PROPRIETOR

M. No. -103665

Date : 30-05-2018

Place : Vadodara

"Annexure B" to the Independent Auditor's Report to in paragraph 2 under theheading 'Report on Other Legal & Regulatory Requirement' of our report of even date tothe standalone financial statements of CONTIL INDIA LIMITED for the year ended March 312018:

1) (a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets;

(b) The Fixed Assets have been physically verified by the management in a phasedmanner designed to cover all the items over a period of three years which in ouropinion is reasonable having regard to the size of the company and nature of itsbusiness. Pursuant to the program a portion of the fixed asset has been physicallyverified by the management during the year and no material discrepancies between the booksrecords and the physical fixed assets have been noticed.

(c) The title deeds of immovable properties are held in the name of the company.

2) (a) The management has conducted the physical verification of inventory atreasonable intervals.

b) The discrepancies noticed on physical verification of the inventory as compared tobooks records which has been properly dealt with in the books of account were notmaterial.

3) The Company has not granted any loans secured or unsecured to companies firmsLimited Liability partnerships or other parties covered in the Register maintained undersection 189 of the Act. Accordingly the provisions of clause 3 (iii) (a) to (C) of theOrder are not applicable to the Company and hence not commented upon.

4) In our opinion and according to the information and explanations given to us thecompany has complied with the provisions of section 185 and 186 of the Companies Act 2013In respect of loans investments guarantees and security.

5) The Company has not accepted any deposits from the public and hence the directivesissued by the Reserve Bank of India and the provisions of Sections 73 to 76 or any otherrelevant provisions of the Act and the Companies (Acceptance of Deposit) Rules 2015 withregard to the deposits accepted from the public are not applicable.

6) As informed to us the maintenance of Cost Records has not been specified by theCentral Government under subsection (1) of Section 148 of the Act in respect of theactivities carried on by the company.

7) (a) According to information and explanations given to us and on the basis of ourexamination of the books of account and records the Company has been generally regularin depositing undisputed statutory dues including Provident Fund Employees StateInsurance Income-Tax Sales tax Service Tax Duty of Customs Duty of Excise Valueadded Tax Cess and any other statutory dues with the appropriate authorities. Accordingto the information and explanations given to us no undisputed amounts payable in respectof the above were in arrears as at March 312018 for a period of more than six months fromthe date on when they become payable.

b) According to the information and explanation given to us there are no dues ofincome tax sales tax service tax duty of customs duty of excise value added taxoutstanding on account of any dispute.

8) In our opinion and according to the information and explanations given to us theCompany has not defaulted in the repayment of dues to banks. The Company has not taken anyloan either from financial institutions or from the government and has not issued anydebentures.

9) Based upon the audit procedures performed and the information and explanations givenby the management the company has not raised moneys by way of initial public offer orfurther public offer including debt instruments and term Loans. Accordingly theprovisions of clause 3 (ix) of the Order are not applicable to the Company and hence notcommented upon.

10) Based upon the audit procedures performed and the information and explanationsgiven by the management we report that no fraud by the Company or on the company by itsofficers or employees has been noticed or reported during the year.

11) Based upon the audit procedures performed and the information and explanationsgiven by the management the managerial remuneration has been paid or provided inaccordance with the requisite approvals mandated by the provisions of section 197 readwith Schedule V to the Companies Act;

12) In our opinion the Company is not a Nidhi Company. Therefore the provisions ofclause 4 (xii) of the Order are not applicable to the Company.

13) In our opinion all transactions with the related parties are in compliance withsection 177 and 188 of Companies Act 2013 and the details have been disclosed in theFinancial Statements as required by the applicable accounting standards.

14) Based upon the audit procedures performed and the information and explanationsgiven by the management the company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debentures during the year underreview. Accordingly the provisions of clause 3 (xiv) of the Order are not applicable tothe Company and hence not commented upon.

15) Based upon the audit procedures performed and the information and explanationsgiven by the management the company has not entered into any non-cash transactions withdirectors or persons connected with him. Accordingly the provisions of clause 3 (xv) ofthe Order are not applicable to the Company and hence not commented upon.

16) The company was having certificate of registration (CoR) No. 01.00152 Dated28/01/2008 issued under section 45(1) A of the Reserve Bank of India Act 1934 to carry onthe business of NBFI as an Investment company. The company has been carrying on thebusiness of NBFC till 04/12/2017. This is in view of the voluntary surrender of the CoR bythe company and the subsequent order Dated 20/11/2017 of Reserve Bank of India for itscancellation. The company has not accepted Public deposits during the year.

For P. INDRAJIT & ASSOCIATES

CHARTERED ACCOUNTANTS

ICAI Firm Regn. No. 117488W

(CA PIYUSH I. SHAH)

PROPRIETOR

M. No. -103665

Date : 30-05-2018

Place : Vadodara

COMPANY'S OVERVIEW

Incorporation

The company was incorporated on October 271994 in the name of Continental Credit& Investment Ltd. The name of the company has subsequently been changed to ContilIndia Ltd. Vide fresh certificate dated December 26 2007 received under the hand ofRegistrar of Companies Gujarat. The listing of the company has been done on a BombayStock Exchange vide security hade Name Contil India BSE Id :531067. The Company is aNon-Banking Finance Company (not accepting public deposits) registered with Reserve Bankof India as an Investment company.

NBFC Certificate

The company was having certificate of registration (Cor) No. 01.00152 Dated 28/01/2008issued under section section 45(1)A of the Reserve Bank of India Act 1934 to carry on thebusiness of NBFI as an investment company. However the same stands cancelled with effectfrom 04/12/2017.

Applicability of Prudential Regulations to NBFCs-ND with Assets less than Rs. 500 crore

Consequent to the redefining of 'systemic significance' the NBFCs-ND with asset size ofless than Rs. 500 crore are exempted from the requirement of maintaining CRAR andcomplying with Credit Concentration Norms. They shall not be subjected to any regulationeither prudential or conduct of business regulations viz. Fair Practices Code (FPC) KYCetc. if they have not accessed any public funds and do not have a customer interface.Accordingly this provision is not applicable to this company.

Adoption of Ind-AS is applicable w.e.f. 1-4-2019

On 30th March 2016 the Ministry of Corporate Affairs (MCA) notified the Companies(Indian Accounting Standards) (Amendment) Rules 2016 which include a road map forimplementation of Indian Accounting Standards (Ind AS) by Non Banking Financial Companies(NBFCs).

NBFCs will be required to comply with Ind AS in a phased manner from accountingperiods beginning on or after 1 April 2018 for the first phase and 1 April 2019 for thesecond phase. This circular confirms the timeline for Ind AS implementation by NBFCs thatwas specified by MCA in its press release dated 18th January 2016.

In view of the circular the company falls in to the adoption of Ind AS in a secondphase and therefore during the current year the financial statements are prepared basedon Indian GAAP.

SIGNIFICANT ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared under historical cost convention as a goingconcern on accrual basis and in accordance with generally accepted accounting principlesin India the relevant provisions of the Companies Act 2013 and the guidelines issued bythe Reserve Bank of India as applicable to a Non Banking Finance (Non-Deposit Accepting)Company (Rs. NBFC-ND'). The Accounting policies are consistent with those used in theprevious year.

Use of estimates

The preparation of financial statements in conformity with generally acceptedaccounting principles requires management to make estimates and assumptions that affectthe reported amounts of assets and liabilities and disclosure of contingent liabilities atthe date of the financial statements and the results of operations during the reportingperiod end. Although these estimates are based upon management's best knowledge of currentevents and actions actual results could differ from these estimates. Differences betweenthe actual results and estimates are recognized in the year in which the results are known/materialized.

Fixed Assets and Depreciation

Tangible Fixed Assets are shown at cost less accumulated depreciation.

Depreciation on Owned Assets is provided to the extent of depreciable amount on theStraight line method (SLM) on a pro-rata basis based on useful life of the assets asprescribed in Schedule II to the Companies Act 2013

Investments

In terms of NBFC Prudential Norms (Reserve Bank) Directions 1998. Investments(intended to be held for more than a year are) classified as long term are generallycarried at cost comprising of acquisition and incidental expenses.

Investment other then long term investments are classified as Current investments.Current investments are carried at lower of cost and market value if quoted.

Inventories

Materials / goods held for resale or trading purposes are valued at cost or netrealizable value whichever is lower.

Foreign Currency Transactions

i) Initial Recognition: Transactions denominated in foreign currencies are recorded atthe rate prevailing on the date of the transaction.

ii) Conversion: At the year-end monetary items denominated in foreign currenciesremaining unsettled are converted into rupee equivalents at the year-end exchange rates.Non monetary items which are carried in terms of historical cost denominated in foreigncurrency are reported using the exchange rate at the date of the transaction.

iii) Exchange Differences : All exchange differences arising on settlement andconversion of foreign currency transactions are included in the profit and loss account.

Cash and cash equivalents

Cash comprises cash on hand and demand deposits with banks. Cash equivalents areshort-term balances (with an original maturity of twelve months or less from the date ofacquisition) highly liquid investments that are readily convertible into known amounts ofcash and which are subject to insignificant risk of changes in value.

Revenue Recognition

Revenue is recognized only when it can be reliably measured and it is reasonable toexpect ultimate realization/ collection.

• Interest Income is recognized on its accrual on the basis of the contractedrate.

• Dividend Income is accounted for on its receipt basis or where right of receiptof dividend is recognized.

• Export sales are recognized as revenue on transfer of significant risk andrewards of ownership which is generally on the basis of the dates of Bill of Lading and /or Air Way Bill.

• Export incentives benefit such as "Duty Draw back" and "GST/VATRefund are accounted for in the year of exports on the basis of accrual.

Registration under GST and Exports of Goods under LUT

The company is registered with GST vide Registration number 24AAACC7666D1ZU w.e.f.1/7/2017. The company is making clearance of gods as exports under the Bond/ LUT acceptedon 17/07/2017 vide UT-l/Div-i/29/2017-18 by the Office of the Asstt. CIT Central GST& Excise Vadodara-1.

Taxation

Tax expense for the year comprising current tax and deferred tax is included indetermining the net profit for the year. A Provision is made for the current tax based ontax liability computed in accordance with relevant rates and tax laws.

A provision is made for deferred tax for all timing differences arising between taxableincomes and accounting income at currently enacted tax rates. Deferred tax assets shallrecognized only if there is reasonable certainty that they will be realized and arereviewed for the appropriateness of their respective carrying values at each balance sheetdate.

Compliances to MSME Act 2006

The Company has not completed the process of collecting the information relating thesmall and Micro units rendering service or supplying goods to the Company. Hence we areunable to determine whether there was deltay in making payment to such entities and theresultant interest for such delay as prescribed under MSME Act 2006 thus we are unableto ascertain the impact on the loss and liabilities of the Company

Contingent Liabilities

Contingencies which are material and future outcome of which cannot be ascertainedwith reasonable certainty are treated as contingent liabilities. As reported by themanagement there are no contingent liability as on 31.3.2018

ADDITIONAL INFORMATION (ANNEXED TO AND FORMING PART OF FINANCIAL STATEMENTS

FOR THE YAER ENDED 31st MARCH 2018)

Requirement of Minimum NOF of Rs. 200 lakh

The minimum Net Owned Fund (NOF) requirement to re raised is Rs. 2 Crore by March 2018in a phased manner Minimum NOF of the company as at 31/3/2018 works out at Rs. 449.56lacs.

The aggregate of the paid-up equity capital 309.44
Add : free reserves 176.85
Total 486.29
Less : (i) accumulated balance of loss; Nil
(ii) deferred revenue expenditure; and
(iii) other intangible assets
Less : the amounts representing (1) investments of such company in shares of- 36.73
(i) its subsidiaries;
(ii) companies in the same group;
(iii) all other non-banking financial companies; and
Less : the book value of debentures bonds outstanding loans and advances (including hire-purchase and lease finance) made to and deposits with- Nil
(i) Subsidiaries of such company; and
(ii) companies in the same group to the extent such amount exceeds ten per cent of (a) above.
NET OWNED FUNDS (NOF) 449.56

Transfer to Statutory Reserve

In terms of Section 45-IC of the RBI Act NBFCs are required to create a reserve fundand transfer therein a sum not less than twenty per cent of its net profit every year.Accordingly Rs.290357.12 has been transferred to Statutory Reserve Account.

Assets Pattern:

Details Amount 31/03/2018 % of Total Assets
Total Assets 53712139 -
Total Financial Assets (i.e 3 + 4 + 5) 19001597 35.37%
Investment (Current Non Current and Bank FDR) 18983787 35.34%
Loans and Advances 17810 0.03%
Assets Finance (EL & HP) 0.00 0.00 %

Income Pattern:

Details Amount 31/03/2018 % of Total Assets
Total Income 8325097 -
Income from Financial Assets (i.e 3 + 4 + 5) 1183295 14.21%
Income from Investment 1099295 13.20%
Income from Loans and Advances 84000 1.01%
Total Income from (EL & HP)Assets Finance 0.00 0.00 %

Leverage Ratio

A leverage ratio of 7 is being introduced for all such NBFCs-ND to link their assetgrowth with the capital they hold. For this purpose leverage ratio is defined as TotalOutside Liabilities / Owned Funds. Leverage ratio of the company as at 31.3.2018 works out@ 9.89 (TOL: 4809575.97/ OF: 48629163.60)

Disclosure In respect of Global Venture

In terms of the Global Venture Integrated as a Corporate Alliance The Company throughthe Canadian business House viz. CONTIL CANADA LTD. has embarked upon the development ofexport of Agro Food Cereals and Assorted items etc. in global arena and has subscribed43.70% of the capital of the CONTIL CANADA LTD.

NAME CONTIL CANADA LTD.
DESCRIPTION OF INTEREST CORPORATE ALLIANCE
DESCRIPTION OF JOB TO DEVELOP A TRADING / EXPORT BUSINESS
PROPORTION OF OWNERSHIP INTEREST 43.70%
COUNTRY OF INCORPORATION CANADA

Note :- During the year no income has been received or accrued from the corporatealliance abroad. The Liability of our company is limited to the fund based commitmenttowards equity only.

Deferred Tax: Working of Deferred Tax as per AS - 22 issued by ICAI is as follows :-

Opening Balance 1.4.2017 Charged / (Credited) to P&L Account Closing. Balance 31.3.2018
I. Deferred Tax Liability (arising on account of timing difference in)
- Depreciation 286813 (13412) 273400
II. Deferred Tax Assets (arising on account of timing difference in)
- Depreciation Nil Nil Nil
Total (I - II) (Net) 286813 (13412) 273400

Segment Reporting

The company is engaged primarily in the business of Investment activity and there is noseparate reportable segment. Accordingly income expenses and other financial datarelating to businesses other than the business of Investments are shown under 'UnallocatedReconciling Items' as per Accounting Standard AS 17 issued by ICAI.

(Rs. In Lacs)

Particulars

Year ended March 31 2018

Year ended March 312017

Investment Activity Unallocable Items Total Investment Activity Unallocable Items Total
Segment Revenue 10.99 72.26 83.25 17.09 49.98 67.07
Net Profit before Tax - - 18.06 - - 11.09
Net Profit After Tax - - 14.51 - - 8.42
Segmental Assets 190.01 347.11 537.12 268.59 253.67 522.26
Segmental Liabilities 0 48.09 48.09 0 47.62 47.62

Related Party Transactions as at 31.3.2018

Name of the related party Designation Relationship Nature of Transaction Amount in lacs (Rs. ) Out standing Balance
2017-18 2016-17 31/3/18
Income :
Contil None Joint venture Sale of INR INR 232.91
Canada Goods Earning 497.94 430.56
Ltd. in Foreign (CDN) (CDN)
Currency (Export on FOB basis) 1003920 853219
Investment:
Contil None Joint venture Equity 36.73 36.73 36.73
Canada Ltd. Contribution (USD 90000) (USD 90000)
Expenses :
Krishna Contractor Managing Director Key Management personnel Director Salary 3.06 1.83 1.37
Niranjana Contractor Director Key Management personnel Director Salary 3.06 1.83 3.03
Sejal Contractor None Wife of MD Staff Salary 1.92 1.80 0.70