Balance Sheet
Content
Balance Sheet as at 31st March 2003
(Rs. in million)
Particulars I SOURCES OF FUNDS 1. Shareholders' Funds: a. Capital b. Reserves and Surplus 2. Loan Funds: a. Secured Loans b. Unsecured Loans 3. Deferred Tax Liability Total II APPLICATION OF FUNDS 1. Fixed Assets: a. Gross Block b. Less: Depreciation c. Net Block d. Capital Work in progress 2. Investments 3. Current Assets, Loans & Advances a. Inventories b. Sundry Debtors c. Cash and Bank balances d. Other Current Assets e. Loans and Advances Less: Current Liabilities and Provisions a. Liabilities b. Provisions Net Current Assets
Sch. No.
31.03.2003
31.03.2002
1 2
60.91 773.99 834.90
60.91 718.41 779.32 75.93 29.16 4.32 53.63 892.85 105.09 59.25 943.66
3 4 5
0.11 4.21
6
972.81 612.50
360.31 30.98 37.03
930.72 548.35
382.37 7.76 40.70
7 8 328.90 299.85 171.43 1.67 304.92 1106.77 9 529.73 195.76 725.49
272.19 293.21 56.47 0.25 348.47 970.59
345.12 163.85 508.97 381.28 461.62
4. Miscellaneous Expenditure: (to the extent not written off or adjusted) Deferred Revenue Expenditure Total
10
83.25 892.85
51.21 943.66
The Schedules referred to above and Notes thereon form an integral part of the Balance Sheet. For and on behalf of the Board L.G. VARADARAJULU Chairman Coimbatore 30.04.2003 P. VANCHINATHAN Company Secretary Dr. JAIRAM VARADARAJ Managing Director P. VENKATESAN AGM-Accounts "As per our report of even date" For RJC ASSOCIATES Chartered Accountants R. JAYACHANDRAN Partner For SRIVATSAN & GITA Chartered Accountants S. SIVAKUMAR Partner
Profit and Loss Account for the Year ended 31st March 2003
(Rs. in million)
Particulars INCOME Sales (Includes Traded goods of Rs.105.11 million) (Previous year Rs.85.85 million) Other Income Total Income EXPENDITURE Materials Consumed (Includes Purchase of Traded goods of Rs.79.76 million) (Previous year Rs.64.48 million) Salaries, Wages, Bonus, Gratuity, etc Excise Duty Other Expenses Interest and Bank Charges Depreciation Lease Equalisation Charges Deferred Revenue Expenditure Written off Total Expenditure PROFIT BEFORE TAX & EXTRA-ORDINARY ITEMS EXTRA-ORDINARY ITEMS EXPENDITURE VRS - Compensation PROFIT BEFORE TAX & AFTER EXTRA-ORDINARY ITEMS Provision for Tax Deferred Tax Liability PROFIT AFTER TAX Profit Brought Forward Prior Year Adjustments PROFIT AVAILABLE FOR APPROPRIATIONS APPROPRIATIONS Dividend - Interim Dividend - Final Dividend Tax Transfer to Debenture Redemption Reserve Transfer to General Reserve Profit Carried to Balance Sheet Total Earnings per Share : (Refer Note: 22) Basic Diluted
Sch. No.
31.03.2003 2503.16
31.03.2002 2210.91 45.97 2256.88
11 (A)
35.66 2538.82
12 13 14 15
1326.89 201.78 289.26 429.78 7.94 72.85 Nil 4.99 2333.49 205.33
1123.22 193.03 268.22 397.59 17.96 68.69 1.91 5.55 2076.17 180.71
(B) (A-B)
(C) (A-B-C)
29.63 175.70 67.42 (5.62) 113.90 87.79 (0.32) 201.37
13.63 167.08 62.50 (6.40) 110.98 30.50 (4.01) 137.47
16
30.45 24.36 3.04 Nil 11.39 132.13 201.37 ( In Rs.) 1.87 1.46
Nil 45.68 Nil (8.00) 12.00 87.79 137.47 ( In Rs.) 1.76 1.37
The Schedules referred to above and Notes thereon form an integral part of the Profit and Loss Account. For and on behalf of the Board L.G. VARADARAJULU Chairman Coimbatore 30.04.2003 P. VANCHINATHAN Company Secretary Dr. JAIRAM VARADARAJ Managing Director P. VENKATESAN AGM-Accounts "As per our report of even date" For RJC ASSOCIATES Chartered Accountants R. JAYACHANDRAN Partner For SRIVATSAN & GITA Chartered Accountants S. SIVAKUMAR Partner
Schedules to Balance Sheet and Profit and Loss Account as at 31st March 2003
(Rs. in million)
Particulars 1 SHARE CAPITAL AUTHORISED CAPITAL 10,00,00,000 Equity Shares of Re.1/- each ISSUED, SUBSCRIBED AND PAID UP CAPITAL FULLY PAID UP 6,00,00,000 Equity Shares of Re.1/- each Issued, Subscribed (Out of the above, 4,87,50,000 Shares were issued as Bonus Shares by Capitalisation of Reserves) PARTLY PAID UP 2,00,00,000 Equity Shares of Re.1/- each issued out of which 1,81,74,240 Equity Shares were subscribed (Rs.0.05 paid up) 2 RESERVES AND SURPLUS CAPITAL RESERVE State Subsidy received Less: Transferred to Profit and Loss Account Add: Share of Reserve on account of revaluation of assets of a firm in which the Company is a partner DEBENTURE REDEMPTION RESERVE As per the last Balance Sheet Less:Part Redemption made during the year SHARE PREMIUM As per the last Balance Sheet Add : Share Premium in respect of Partly paid up Equity Shares EXPORT PROFIT RESERVE GENERAL RESERVE As per the last Balance Sheet Add: Transfer from Profit and Loss Account Less: Deferred Tax relating to earlier years Less:Adjustment in Opening Stock due to change in Method of Valuation. SURPLUS Balance in Profit and Loss Account 453.31 11.39 Nil Nil 147.72 Nil 9.00 9.00 0.30 0.15 0.15
31.03.2003
31.03.2002
100.00
100.00
60.00
60.00
0.91
0.91
60.91
60.91
0.45 0.15 0.30
29.09
29.24
29.09 17.00
29.39
Nil
8.00 135.00 12.72
9.00
147.72 0.20
147.72 0.20
516.52 12.00 65.65 464.70 132.13 773.99 18.56 444.31 87.79 718.41
(Rs. in million)
Particulars 3 SECURED LOANS DEBENTURES 500,000 16% Partly Convertible Debentures of Rs.50/-each (Redeemed in 3 instalments on 22.11.2000 - Rs. 16/22.11.2001 - Rs. 16/- and 22.11.2002 - Rs. 18/-) FROM BANKS Demand Loan Open Loan HIRE PURCHASE LOAN 4 UNSECURED LOANS Fixed Deposits From Directors 5 DEFERRED TAX LIABILITY As per the last Balance Sheet Add / (Less) - for the year 6 FIXED ASSETS
GROSS BLOCK Description of Assets Land Buildings Plant& Machinery Electrical Fittings, Furniture & Office Equipments Motor Vehicle Canteen Equipments Grand Total
31.03.2003
31.03.2002
Nil Nil Nil 0.11 0.11 4.21 Nil 4.21 59.25 (5.62) 53.63
9.00 41.38 25.30 0.25 75.93 29.07 0.09 29.16 65.65 (6.40) 59.25
DEPRECIATION
NET BLOCK
As As As As As As During theYear During theYear at at at at at at 01.04.02 Additions Deletions 31.03.03 01.04.02 Additions Deletions 31.03.03 31.03.03 31.03.02 15.25 137.65 709.42 Nil 2.65 44.87 Nil 3.06 4.85 15.25 137.24 749.44 Nil 64.03 441.91 Nil 6.45 60.53 Nil 2.36 4.43 Nil 68.12 498.01 15.25 69.12 251.43 15.25 73.62 267.51
58.11 9.50 0.79 930.72
5.82 1.56 Nil 54.90 48.67
0.48 4.42 Nil 12.81 22.35
63.45 6.64 0.79 972.81 930.72
38.89 2.91 0.61 548.35 499.89
5.22 0.61 0.02 72.83 68.69
0.36 1.53 Nil 8.68 20.23
43.75 1.99 0.63 612.50 548.35
19.70 4.65 0.16 360.31 382.37
19.22 6.59 0.18 382.37 404.52
Previous Year 904.40
1. Building includes: i. Constructed in Lease/Rental Premises Rs. 5.93 million (Previous year Rs. 5.93 million). ii. Cost of Building Rs. 0.08 million at Ahmedabad yet to be registered in the name of the Company. 2. Land and Buildings includes Rs. 0.63 million jointly owned.
(Rs. in million)
Particulars 7 INVESTMENTS (AT COST) INVESTMENTS IN GOVERNMENT SECURITIES National Savings Certificate (Lodged with Government Authorities Rs. 0.01 million) (Previous year Rs. 0.01 million) Indira Vikas Patra NON-TRADE QUOTED EQUITY SHARES (FULLY PAID) State Bank of India HDFC Bank Ltd HDFC Ltd Magna Electro Castings Ltd Elgitread (India) Ltd Premier Instruments & Controls Ltd L. G. Balakrishnan & Bros Ltd Lakshmi Machine Works Ltd NON-TRADE UNQUOTED
No. of Face Value 31.03.2003 31.03.2002 Shares per Share
0.01 0.00
0.01 0.00
300 500 2400* 50000 109100 6283 624 5
10 10 10 10 10 10 10 100
0.03 0.01 0.03 0.50 7.95 0.54 0.03 0.01
0.03 0.01 0.03 0.50 7.95 0.54 0.03 0.01
I. Equity Shares (Fully Paid) Coimbatore Pvt. Industrial Estates Ltd 77 The Mill Officers Co-Op Housing Colony Ltd., Ahmedabad 5 Elgi Securities Ltd 99300 Super Farm Products Ltd 2000 Union Motors Services Ltd 83417 Coimbatore Popular Spinning Mills Ltd 205000 II. Non Convertible Preference Shares Terra Agro Technologies Ltd -12.5% Cumulative Non Conv. Pref. Shares -14.0% Cumulative Non Conv. Pref. Shares INVESTMENT IN SUBSIDIARY COMPANY -Adisons Precision Instruments Manufacturing Company Ltd -Equity Shares (Fully Paid) -Equity Shares (Partly Paid - Rs. 2 paid) INVESTMENTS IN PARTNERSHIP FIRMS L.G.Balakrishnan & Bros Elgi Services (Share 2%) (Share 80%)
1000 50 10 100 10 10
0.08 0.00 0.99 0.20 Nil Nil
0.08 0.00 0.99 0.20 2.51 2.05
500000 250000
10 10
5.00 2.50
5.00 2.50
42550 49000
10 10
16.87 0.10
16.87 0.10
1.78 0.40 37.03
0.89 0.40 40.70
[Total Cost of Quoted Securities Rs.9.09 million (Previous year Rs.9.09 million) and Total Market Value of Quoted Securities Rs.18.75 million (Previous year Rs.19.69 million)] *Includes 1200 Bonus shares received during 2002-03.
(Rs. in million)
Particulars 8 CURRENT ASSETS, LOANS AND ADVANCES a. INVENTORIES Consumables, Spares and Stores Loose Tools Raw Materials and Components Works-in-Progress Finished Products b. SUNDRY DEBTORS (Unsecured and considered good) Debts outstanding for a period exceeding 6 months Other Debts c. CASH AND BANK BALANCES Cash on Hand Cheques on Hand With Scheduled Banks -Current Accounts -Deposit Accounts (Includes Rs.3.19 million (Previous year Rs.3.43 million) with Banks as Margin Money With Post Office (Includes Rs.0.01 million(Previous year Rs.0.01 million) pledged as security with Govt. Authorities) d. OTHER CURRENT ASSETS Interest Accrued e. LOANS AND ADVANCES (Unsecured and considered good) Advances and Loans to Subsidiary Company -Rent advance Adisons Precision Instruments Mfg. Company Ltd Advances recoverable in cash or in kind or for value to be received. Due on Actionable Claims Loans to Companies -Elgi Ultra Industries Ltd -Super Farm Products Ltd Loans to Directors and Officers (Maximum amount due during the year Rs.2.04 million) (Previous year Rs.2.04 million) Others (Includes Rs.0.05 million (previous year Rs 0.05 million) due from firms in which Company is a partner) Prepaid Expenses Advance Payment of Income Tax Security and Other Deposits Income/Refund receivable
31.03.2003
31.03.2002
0.50 3.39 192.09 42.83 90.09 328.90 41.67 258.18 299.85 0.82 2.55 3.85 164.20 0.01 171.43 1.67
1.12 4.22 138.72 47.07 81.06 272.19 49.03 244.18 293.21 0.64 Nil 47.78 8.03 0.02 56.47 0.25
2.50
2.50
98.14 28.00 0.15 28.00 0.15
175.38
28.15 1.76
28.15 1.79
21.00
41.26
5.18 134.46 9.28 4.45 304.92
2.17 78.38 11.41 7.43 348.47
(Rs. in million)
Particulars 9 CURRENT LIABILITIES AND PROVISIONS a. CURRENT LIABILITIES Acceptances Sundry Creditors Small Scale Industries Others Due to Subsidiary Company Advance and Deposits from Customers and Others Unclaimed Dividends Interest accrued but not due Investor Education and Protection Fund shall be credited by the following amounts namely :a. Unpaid Dividend b. Unpaid application money received by the companies- for allotment of securities and due for refund c. Unpaid Matured Deposits d. Unpaid Matured Debentures e. Interest accrued but not due on (a) to (d) above b. PROVISIONS Provision for Taxation Proposed Dividend Provision for Dividend Tax Provision for Employee Benefits 10 DEFERRED REVENUE EXPENDITURE VRS Compensation Technical Know-how Fees Others 11 OTHER INCOME Profit on Sale of Assets Royalty Receipts Rent Receipts Discounting Charges Others - (TDS Rs 0.24 million Previous year Rs.1.12 million) Dividend Receipts Income from Exchange Fluctuations Income from Lease Operations 12 CONSUMPTION OF MATERIALS Opening Stock -Raw Materials -Semi-Finished Products -Finished Products Opening Stock ( Gross of CENVAT) Less:CENVAT Adjusted out of General Reserve Opening Stock ( Net of CENVAT) (A)
31.03.2003
31.03.2002
37.45 51.85 230.68 Nil 208.79 0.96 Nil
16.86 34.64 226.63 1.82 61.05 0.63 3.49
Nil Nil Nil Nil Nil 529.73 129.92 24.36 3.04 38.44 195.76 74.05 9.20 Nil 83.25 6.42 12.14 3.86 2.61 9.29 1.22 0.12 Nil 35.66
Nil Nil Nil Nil Nil 345.12 83.40 45.68 Nil 34.77 163.85 41.60 9.43 0.18 51.21 5.89 7.66 5.90 13.86 8.87 1.09 0.67 2.03 45.97
138.72 47.07 81.06 266.85 Nil 266.85
176.63 41.85 67.53 286.01 18.56 267.45
(Rs. in million)
Particulars Purchases Closing Stock -Raw Materials -Semi-Finished Products -Finished Products Closing Stock ( NET OF CENVAT) Materials Consumed (Materials Consumed includes Machining Charges of Rs.17.50 million (Previous year Rs.19.44 million)) 13 SALARIES, WAGES, BONUS, GRATUITY ETC., Salaries and Wages Bonus Gratuity Contribution to PF and other Funds Managing Director's Remuneration Welfare Expenses 14 OTHER EXPENSES Consumption of Stores, Spares Power,Fuel & Lighting Factory Expenses Tools Consumed Repairs and Maintenance of -Buildings -Machinery -Vehicles -Other Assets Rent Rates & Taxes Printing & Stationery Postage, Telegrams & Telephones Travelling & Conveyance Subscription, Periodicals & Filing Fees Insurance Donation Legal and Accountancy Charges Auditors' Remuneration -Audit Fees -Other Services -Reimbursement of expenses (B)
31.03.2003 1385.05 192.09 42.83 90.09 (C) (A+B-C) 325.01 1326.89
31.03.2002 1122.62 138.72 47.07 81.06 266.85 1123.22
158.90 6.87 7.24 12.39 2.03 14.35 201.78 23.38 25.76 2.07 18.09 9.60 20.59 1.13 9.43 4.80 3.60 7.28 9.88 57.02 1.00 2.72 2.50 1.04 0.25 0.10 Nil
154.17 7.13 2.96 12.67 1.98 14.12 193.03 21.95 22.19 0.97 13.23 16.24 20.39 1.76 7.01 4.26 2.95 8.60 12.25 50.41 1.14 3.72 1.01 0.95 0.21 0.07 0.01
(Rs. in million) Particulars Miscellaneous Expenses Research & Development Expenses Directors' Sitting Fees Advertisement & Publicity Transport Charges Packing Materials Commission & Discount Royalty Payments Sales Tax Payments Loss on Investments written off Loss on Sale of Assets Loss on Write-off of Actionable Claims Bad Debts Written off Assets Condemned & Written-off 15 INTEREST AND BANK CHARGES Term Loans Debentures Fixed Deposits Others Less: Interest Receipts (TDS-Rs.0.68 million) (Previous year Rs.1.14 million) Bank Charges 16 PRIOR YEAR ADJUSTMENTS INCOME Provision for Expense - Earlier Years Total EXPENSES Income Tax paid relating to earlier years Prior year Expenses Total (B) (A-B) Nil 0.32 0.32 (0.32) 4.19 Nil 4.19 (4.01) (A) Nil Nil 0.18 0.18 1.17 0.84 1.68 6.47 10.16 9.64 0.52 7.42 7.94 5.32 2.27 4.77 4.84 17.20 6.20 11.00 6.96 17.96 31.03.2003 21.41 3.35 0.06 12.57 26.42 38.51 24.09 0.93 12.25 4.57 0.63 72.46 12.05 0.24 429.78 31.03.2002 12.89 2.94 0.05 13.55 24.63 33.04 19.66 0.95 11.02 Nil 0.53 72.63 15.93 0.45 397.59
(Rs. in million)
Particulars I SOURCES OF FUNDS 1. Shareholders' Funds: a. Capital b. Reserves and Surplus 2. Loan Funds: a. Secured Loans b. Unsecured Loans 3. Deferred Tax Liability Total II APPLICATION OF FUNDS 1. Fixed Assets: a. Gross Block b. Less: Depreciation c. Net Block d. Capital Work in progress 2. Investments 3. Current Assets, Loans & Advances a. Inventories b. Sundry Debtors c. Cash and Bank balances d. Other Current Assets e. Loans and Advances Less: Current Liabilities and Provisions a. Liabilities b. Provisions Net Current Assets
Sch. No.
31.03.2003
31.03.2002
1 2
60.91 773.99 834.90
60.91 718.41 779.32 75.93 29.16 4.32 53.63 892.85 105.09 59.25 943.66
3 4 5
0.11 4.21
6
972.81 612.50
360.31 30.98 37.03
930.72 548.35
382.37 7.76 40.70
7 8 328.90 299.85 171.43 1.67 304.92 1106.77 9 529.73 195.76 725.49
272.19 293.21 56.47 0.25 348.47 970.59
345.12 163.85 508.97 381.28 461.62
4. Miscellaneous Expenditure: (to the extent not written off or adjusted) Deferred Revenue Expenditure Total
10
83.25 892.85
51.21 943.66
The Schedules referred to above and Notes thereon form an integral part of the Balance Sheet. For and on behalf of the Board L.G. VARADARAJULU Chairman Coimbatore 30.04.2003 P. VANCHINATHAN Company Secretary Dr. JAIRAM VARADARAJ Managing Director P. VENKATESAN AGM-Accounts "As per our report of even date" For RJC ASSOCIATES Chartered Accountants R. JAYACHANDRAN Partner For SRIVATSAN & GITA Chartered Accountants S. SIVAKUMAR Partner
Profit and Loss Account for the Year ended 31st March 2003
(Rs. in million)
Particulars INCOME Sales (Includes Traded goods of Rs.105.11 million) (Previous year Rs.85.85 million) Other Income Total Income EXPENDITURE Materials Consumed (Includes Purchase of Traded goods of Rs.79.76 million) (Previous year Rs.64.48 million) Salaries, Wages, Bonus, Gratuity, etc Excise Duty Other Expenses Interest and Bank Charges Depreciation Lease Equalisation Charges Deferred Revenue Expenditure Written off Total Expenditure PROFIT BEFORE TAX & EXTRA-ORDINARY ITEMS EXTRA-ORDINARY ITEMS EXPENDITURE VRS - Compensation PROFIT BEFORE TAX & AFTER EXTRA-ORDINARY ITEMS Provision for Tax Deferred Tax Liability PROFIT AFTER TAX Profit Brought Forward Prior Year Adjustments PROFIT AVAILABLE FOR APPROPRIATIONS APPROPRIATIONS Dividend - Interim Dividend - Final Dividend Tax Transfer to Debenture Redemption Reserve Transfer to General Reserve Profit Carried to Balance Sheet Total Earnings per Share : (Refer Note: 22) Basic Diluted
Sch. No.
31.03.2003 2503.16
31.03.2002 2210.91 45.97 2256.88
11 (A)
35.66 2538.82
12 13 14 15
1326.89 201.78 289.26 429.78 7.94 72.85 Nil 4.99 2333.49 205.33
1123.22 193.03 268.22 397.59 17.96 68.69 1.91 5.55 2076.17 180.71
(B) (A-B)
(C) (A-B-C)
29.63 175.70 67.42 (5.62) 113.90 87.79 (0.32) 201.37
13.63 167.08 62.50 (6.40) 110.98 30.50 (4.01) 137.47
16
30.45 24.36 3.04 Nil 11.39 132.13 201.37 ( In Rs.) 1.87 1.46
Nil 45.68 Nil (8.00) 12.00 87.79 137.47 ( In Rs.) 1.76 1.37
The Schedules referred to above and Notes thereon form an integral part of the Profit and Loss Account. For and on behalf of the Board L.G. VARADARAJULU Chairman Coimbatore 30.04.2003 P. VANCHINATHAN Company Secretary Dr. JAIRAM VARADARAJ Managing Director P. VENKATESAN AGM-Accounts "As per our report of even date" For RJC ASSOCIATES Chartered Accountants R. JAYACHANDRAN Partner For SRIVATSAN & GITA Chartered Accountants S. SIVAKUMAR Partner
Schedules to Balance Sheet and Profit and Loss Account as at 31st March 2003
(Rs. in million)
Particulars 1 SHARE CAPITAL AUTHORISED CAPITAL 10,00,00,000 Equity Shares of Re.1/- each ISSUED, SUBSCRIBED AND PAID UP CAPITAL FULLY PAID UP 6,00,00,000 Equity Shares of Re.1/- each Issued, Subscribed (Out of the above, 4,87,50,000 Shares were issued as Bonus Shares by Capitalisation of Reserves) PARTLY PAID UP 2,00,00,000 Equity Shares of Re.1/- each issued out of which 1,81,74,240 Equity Shares were subscribed (Rs.0.05 paid up) 2 RESERVES AND SURPLUS CAPITAL RESERVE State Subsidy received Less: Transferred to Profit and Loss Account Add: Share of Reserve on account of revaluation of assets of a firm in which the Company is a partner DEBENTURE REDEMPTION RESERVE As per the last Balance Sheet Less:Part Redemption made during the year SHARE PREMIUM As per the last Balance Sheet Add : Share Premium in respect of Partly paid up Equity Shares EXPORT PROFIT RESERVE GENERAL RESERVE As per the last Balance Sheet Add: Transfer from Profit and Loss Account Less: Deferred Tax relating to earlier years Less:Adjustment in Opening Stock due to change in Method of Valuation. SURPLUS Balance in Profit and Loss Account 453.31 11.39 Nil Nil 147.72 Nil 9.00 9.00 0.30 0.15 0.15
31.03.2003
31.03.2002
100.00
100.00
60.00
60.00
0.91
0.91
60.91
60.91
0.45 0.15 0.30
29.09
29.24
29.09 17.00
29.39
Nil
8.00 135.00 12.72
9.00
147.72 0.20
147.72 0.20
516.52 12.00 65.65 464.70 132.13 773.99 18.56 444.31 87.79 718.41
(Rs. in million)
Particulars 3 SECURED LOANS DEBENTURES 500,000 16% Partly Convertible Debentures of Rs.50/-each (Redeemed in 3 instalments on 22.11.2000 - Rs. 16/22.11.2001 - Rs. 16/- and 22.11.2002 - Rs. 18/-) FROM BANKS Demand Loan Open Loan HIRE PURCHASE LOAN 4 UNSECURED LOANS Fixed Deposits From Directors 5 DEFERRED TAX LIABILITY As per the last Balance Sheet Add / (Less) - for the year 6 FIXED ASSETS
GROSS BLOCK Description of Assets Land Buildings Plant& Machinery Electrical Fittings, Furniture & Office Equipments Motor Vehicle Canteen Equipments Grand Total
31.03.2003
31.03.2002
Nil Nil Nil 0.11 0.11 4.21 Nil 4.21 59.25 (5.62) 53.63
9.00 41.38 25.30 0.25 75.93 29.07 0.09 29.16 65.65 (6.40) 59.25
DEPRECIATION
NET BLOCK
As As As As As As During theYear During theYear at at at at at at 01.04.02 Additions Deletions 31.03.03 01.04.02 Additions Deletions 31.03.03 31.03.03 31.03.02 15.25 137.65 709.42 Nil 2.65 44.87 Nil 3.06 4.85 15.25 137.24 749.44 Nil 64.03 441.91 Nil 6.45 60.53 Nil 2.36 4.43 Nil 68.12 498.01 15.25 69.12 251.43 15.25 73.62 267.51
58.11 9.50 0.79 930.72
5.82 1.56 Nil 54.90 48.67
0.48 4.42 Nil 12.81 22.35
63.45 6.64 0.79 972.81 930.72
38.89 2.91 0.61 548.35 499.89
5.22 0.61 0.02 72.83 68.69
0.36 1.53 Nil 8.68 20.23
43.75 1.99 0.63 612.50 548.35
19.70 4.65 0.16 360.31 382.37
19.22 6.59 0.18 382.37 404.52
Previous Year 904.40
1. Building includes: i. Constructed in Lease/Rental Premises Rs. 5.93 million (Previous year Rs. 5.93 million). ii. Cost of Building Rs. 0.08 million at Ahmedabad yet to be registered in the name of the Company. 2. Land and Buildings includes Rs. 0.63 million jointly owned.
(Rs. in million)
Particulars 7 INVESTMENTS (AT COST) INVESTMENTS IN GOVERNMENT SECURITIES National Savings Certificate (Lodged with Government Authorities Rs. 0.01 million) (Previous year Rs. 0.01 million) Indira Vikas Patra NON-TRADE QUOTED EQUITY SHARES (FULLY PAID) State Bank of India HDFC Bank Ltd HDFC Ltd Magna Electro Castings Ltd Elgitread (India) Ltd Premier Instruments & Controls Ltd L. G. Balakrishnan & Bros Ltd Lakshmi Machine Works Ltd NON-TRADE UNQUOTED
No. of Face Value 31.03.2003 31.03.2002 Shares per Share
0.01 0.00
0.01 0.00
300 500 2400* 50000 109100 6283 624 5
10 10 10 10 10 10 10 100
0.03 0.01 0.03 0.50 7.95 0.54 0.03 0.01
0.03 0.01 0.03 0.50 7.95 0.54 0.03 0.01
I. Equity Shares (Fully Paid) Coimbatore Pvt. Industrial Estates Ltd 77 The Mill Officers Co-Op Housing Colony Ltd., Ahmedabad 5 Elgi Securities Ltd 99300 Super Farm Products Ltd 2000 Union Motors Services Ltd 83417 Coimbatore Popular Spinning Mills Ltd 205000 II. Non Convertible Preference Shares Terra Agro Technologies Ltd -12.5% Cumulative Non Conv. Pref. Shares -14.0% Cumulative Non Conv. Pref. Shares INVESTMENT IN SUBSIDIARY COMPANY -Adisons Precision Instruments Manufacturing Company Ltd -Equity Shares (Fully Paid) -Equity Shares (Partly Paid - Rs. 2 paid) INVESTMENTS IN PARTNERSHIP FIRMS L.G.Balakrishnan & Bros Elgi Services (Share 2%) (Share 80%)
1000 50 10 100 10 10
0.08 0.00 0.99 0.20 Nil Nil
0.08 0.00 0.99 0.20 2.51 2.05
500000 250000
10 10
5.00 2.50
5.00 2.50
42550 49000
10 10
16.87 0.10
16.87 0.10
1.78 0.40 37.03
0.89 0.40 40.70
[Total Cost of Quoted Securities Rs.9.09 million (Previous year Rs.9.09 million) and Total Market Value of Quoted Securities Rs.18.75 million (Previous year Rs.19.69 million)] *Includes 1200 Bonus shares received during 2002-03.
(Rs. in million)
Particulars 8 CURRENT ASSETS, LOANS AND ADVANCES a. INVENTORIES Consumables, Spares and Stores Loose Tools Raw Materials and Components Works-in-Progress Finished Products b. SUNDRY DEBTORS (Unsecured and considered good) Debts outstanding for a period exceeding 6 months Other Debts c. CASH AND BANK BALANCES Cash on Hand Cheques on Hand With Scheduled Banks -Current Accounts -Deposit Accounts (Includes Rs.3.19 million (Previous year Rs.3.43 million) with Banks as Margin Money With Post Office (Includes Rs.0.01 million(Previous year Rs.0.01 million) pledged as security with Govt. Authorities) d. OTHER CURRENT ASSETS Interest Accrued e. LOANS AND ADVANCES (Unsecured and considered good) Advances and Loans to Subsidiary Company -Rent advance Adisons Precision Instruments Mfg. Company Ltd Advances recoverable in cash or in kind or for value to be received. Due on Actionable Claims Loans to Companies -Elgi Ultra Industries Ltd -Super Farm Products Ltd Loans to Directors and Officers (Maximum amount due during the year Rs.2.04 million) (Previous year Rs.2.04 million) Others (Includes Rs.0.05 million (previous year Rs 0.05 million) due from firms in which Company is a partner) Prepaid Expenses Advance Payment of Income Tax Security and Other Deposits Income/Refund receivable
31.03.2003
31.03.2002
0.50 3.39 192.09 42.83 90.09 328.90 41.67 258.18 299.85 0.82 2.55 3.85 164.20 0.01 171.43 1.67
1.12 4.22 138.72 47.07 81.06 272.19 49.03 244.18 293.21 0.64 Nil 47.78 8.03 0.02 56.47 0.25
2.50
2.50
98.14 28.00 0.15 28.00 0.15
175.38
28.15 1.76
28.15 1.79
21.00
41.26
5.18 134.46 9.28 4.45 304.92
2.17 78.38 11.41 7.43 348.47
(Rs. in million)
Particulars 9 CURRENT LIABILITIES AND PROVISIONS a. CURRENT LIABILITIES Acceptances Sundry Creditors Small Scale Industries Others Due to Subsidiary Company Advance and Deposits from Customers and Others Unclaimed Dividends Interest accrued but not due Investor Education and Protection Fund shall be credited by the following amounts namely :a. Unpaid Dividend b. Unpaid application money received by the companies- for allotment of securities and due for refund c. Unpaid Matured Deposits d. Unpaid Matured Debentures e. Interest accrued but not due on (a) to (d) above b. PROVISIONS Provision for Taxation Proposed Dividend Provision for Dividend Tax Provision for Employee Benefits 10 DEFERRED REVENUE EXPENDITURE VRS Compensation Technical Know-how Fees Others 11 OTHER INCOME Profit on Sale of Assets Royalty Receipts Rent Receipts Discounting Charges Others - (TDS Rs 0.24 million Previous year Rs.1.12 million) Dividend Receipts Income from Exchange Fluctuations Income from Lease Operations 12 CONSUMPTION OF MATERIALS Opening Stock -Raw Materials -Semi-Finished Products -Finished Products Opening Stock ( Gross of CENVAT) Less:CENVAT Adjusted out of General Reserve Opening Stock ( Net of CENVAT) (A)
31.03.2003
31.03.2002
37.45 51.85 230.68 Nil 208.79 0.96 Nil
16.86 34.64 226.63 1.82 61.05 0.63 3.49
Nil Nil Nil Nil Nil 529.73 129.92 24.36 3.04 38.44 195.76 74.05 9.20 Nil 83.25 6.42 12.14 3.86 2.61 9.29 1.22 0.12 Nil 35.66
Nil Nil Nil Nil Nil 345.12 83.40 45.68 Nil 34.77 163.85 41.60 9.43 0.18 51.21 5.89 7.66 5.90 13.86 8.87 1.09 0.67 2.03 45.97
138.72 47.07 81.06 266.85 Nil 266.85
176.63 41.85 67.53 286.01 18.56 267.45
(Rs. in million)
Particulars Purchases Closing Stock -Raw Materials -Semi-Finished Products -Finished Products Closing Stock ( NET OF CENVAT) Materials Consumed (Materials Consumed includes Machining Charges of Rs.17.50 million (Previous year Rs.19.44 million)) 13 SALARIES, WAGES, BONUS, GRATUITY ETC., Salaries and Wages Bonus Gratuity Contribution to PF and other Funds Managing Director's Remuneration Welfare Expenses 14 OTHER EXPENSES Consumption of Stores, Spares Power,Fuel & Lighting Factory Expenses Tools Consumed Repairs and Maintenance of -Buildings -Machinery -Vehicles -Other Assets Rent Rates & Taxes Printing & Stationery Postage, Telegrams & Telephones Travelling & Conveyance Subscription, Periodicals & Filing Fees Insurance Donation Legal and Accountancy Charges Auditors' Remuneration -Audit Fees -Other Services -Reimbursement of expenses (B)
31.03.2003 1385.05 192.09 42.83 90.09 (C) (A+B-C) 325.01 1326.89
31.03.2002 1122.62 138.72 47.07 81.06 266.85 1123.22
158.90 6.87 7.24 12.39 2.03 14.35 201.78 23.38 25.76 2.07 18.09 9.60 20.59 1.13 9.43 4.80 3.60 7.28 9.88 57.02 1.00 2.72 2.50 1.04 0.25 0.10 Nil
154.17 7.13 2.96 12.67 1.98 14.12 193.03 21.95 22.19 0.97 13.23 16.24 20.39 1.76 7.01 4.26 2.95 8.60 12.25 50.41 1.14 3.72 1.01 0.95 0.21 0.07 0.01
(Rs. in million) Particulars Miscellaneous Expenses Research & Development Expenses Directors' Sitting Fees Advertisement & Publicity Transport Charges Packing Materials Commission & Discount Royalty Payments Sales Tax Payments Loss on Investments written off Loss on Sale of Assets Loss on Write-off of Actionable Claims Bad Debts Written off Assets Condemned & Written-off 15 INTEREST AND BANK CHARGES Term Loans Debentures Fixed Deposits Others Less: Interest Receipts (TDS-Rs.0.68 million) (Previous year Rs.1.14 million) Bank Charges 16 PRIOR YEAR ADJUSTMENTS INCOME Provision for Expense - Earlier Years Total EXPENSES Income Tax paid relating to earlier years Prior year Expenses Total (B) (A-B) Nil 0.32 0.32 (0.32) 4.19 Nil 4.19 (4.01) (A) Nil Nil 0.18 0.18 1.17 0.84 1.68 6.47 10.16 9.64 0.52 7.42 7.94 5.32 2.27 4.77 4.84 17.20 6.20 11.00 6.96 17.96 31.03.2003 21.41 3.35 0.06 12.57 26.42 38.51 24.09 0.93 12.25 4.57 0.63 72.46 12.05 0.24 429.78 31.03.2002 12.89 2.94 0.05 13.55 24.63 33.04 19.66 0.95 11.02 Nil 0.53 72.63 15.93 0.45 397.59
