Online-Trading Portfolio-Tracker Research Back-Office MF-Tracker
BSE Prices delayed by 5 minutes... << Prices as on May 18, 2024 >>   ABB 8415.4 [ 0.48 ]ACC 2524 [ 0.11 ]AMBUJA CEM 618.95 [ -0.24 ]ASIAN PAINTS 2816.55 [ 0.24 ]AXIS BANK 1143.15 [ 0.15 ]BAJAJ AUTO 8812.9 [ 0.38 ]BANKOFBARODA 262.55 [ 0.50 ]BHARTI AIRTE 1348.2 [ 0.30 ]BHEL 310.05 [ 3.49 ]BPCL 628.9 [ 0.07 ]BRITANIAINDS 5091.15 [ 0.08 ]CIPLA 1403.9 [ 0.33 ]COAL INDIA 469.35 [ -0.21 ]COLGATEPALMO 2690.9 [ 0.33 ]DABUR INDIA 539.9 [ 0.73 ]DLF 851.25 [ 0.28 ]DRREDDYSLAB 5814.8 [ 0.27 ]GAIL 208.75 [ 2.40 ]GRASIM INDS 2433.1 [ 0.40 ]HCLTECHNOLOG 1338.65 [ 0.43 ]HDFC 2729.95 [ -0.62 ]HDFC BANK 1465.4 [ 0.03 ]HEROMOTOCORP 5102.75 [ 0.24 ]HIND.UNILEV 2327.4 [ 0.34 ]HINDALCO 660 [ 0.72 ]ICICI BANK 1130.15 [ -0.03 ]IDFC 114.35 [ 0.09 ]INDIANHOTELS 570.65 [ -0.11 ]INDUSINDBANK 1417.65 [ 0.42 ]INFOSYS 1443.75 [ -0.02 ]ITC LTD 436.45 [ -0.03 ]JINDALSTLPOW 1016.25 [ 0.08 ]KOTAK BANK 1696.4 [ -0.04 ]L&T 3464.25 [ 0.41 ]LUPIN 1659.95 [ 0.45 ]MAH&MAH 2504.3 [ -0.40 ]MARUTI SUZUK 12603.35 [ -0.32 ]MTNL 37.29 [ 0.97 ]NESTLE 2502.2 [ 2.33 ]NIIT 104.25 [ -0.05 ]NMDC 280.05 [ 1.30 ]NTPC 366.4 [ 0.27 ]ONGC 279.1 [ 0.65 ]PNB 126.1 [ 0.84 ]POWER GRID 316.85 [ 1.12 ]RIL 2869.05 [ -0.06 ]SBI 820.85 [ 0.37 ]SESA GOA 458.55 [ 3.63 ]SHIPPINGCORP 230.9 [ -1.64 ]SUNPHRMINDS 1530.8 [ -0.05 ]TATA CHEM 1079.6 [ -0.42 ]TATA GLOBAL 1094.95 [ 0.13 ]TATA MOTORS 952.95 [ 0.76 ]TATA STEEL 167.9 [ 0.39 ]TATAPOWERCOM 441.25 [ 1.13 ]TCS 3850 [ 0.42 ]TECH MAHINDR 1305.5 [ 0.05 ]ULTRATECHCEM 9860.8 [ -0.30 ]UNITED SPIRI 1180.55 [ -0.14 ]WIPRO 462.35 [ 0.28 ]ZEETELEFILMS 140.7 [ 4.26 ] BSE NSE
You can view the entire text of Notes to accounts of the company for the latest year

BSE: 506522ISIN: INE430D01015INDUSTRY: Personal Care

BSE   ` 2021.35   Open: 2018.95   Today's Range 2005.10
2025.00
+15.30 (+ 0.76 %) Prev Close: 2006.05 52 Week Range 1530.00
2274.00
Year End :2018-03 

NOTES OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2018

50 FIRST-TIME ADOPTION OF IND AS

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

Set out below are the applicable Ind AS 101 optional exemptions and mandatory exceptions applied in the transition from previous GAAP to Ind AS.

A. Optional Exemptions

(a) Deemed Cost

Ind AS 101 permits to measure all its property, plant & equipment at their previous GAAP carrying value i.e. being deemed cost represented by Gross Block reduced by accumulated depreciation on 1st April, 2016.

(b) Designation of previously recognised financial instruments

Paragraph D19B of Ind AS 101 gives an option to an entity to designate investments in equity instruments at FVOCI on the basis of the facts and circumstances at the date of transition to Ind AS. The company has opted to apply this exemption for its investment in equity Investments.

B. Mandatory Exceptions

(a) Estimates

An entity's estimates in accordance with Ind AS at the date of transition to Ind AS shall be consistent with estimates made for the same date in accordance with previous GAAP (after adjustments to reflect any difference in accounting policies).

Ind AS estimates as at 1st April, 2016 are consistent with the estimates as at the same date made in conformity with previous GAAP. The Group made estimates for following items in accordance with Ind AS at the date of transition as these were not required under previous GAAP:

- Investment in equity instruments carried at FVTPL or FVOCI; and

- Impairment of financial assets based on expected credit loss model.

(b) Classification and measurement of financial assets

Ind AS 101 requires an entity to assess classification and measurement of financial assets (investment in debt instruments) on the basis of the facts and circumstances that exist at the date of transition to Ind AS.

C. Transition to Ind AS - Reconciliations

The following reconciliations provide a quantification of the effect of significant differences arising from the transition from previous GAAP to Ind AS in accordance with Ind AS 101:

I. Reconciliation of Balance sheet as at 1st April, 2016 and 31st March, 2017

II. Reconciliation of Statement of total Comprehensive Income for the period ended 31st March, 2017

III. Reconciliation of Equity as at 1st April, 2016 and 31st March, 2017

IV. Impact on cash flow statement for the period ended 31st March, 2017

The presentation requirements under Previous GAAP differs from Ind AS and hence Previous GAAP information has been regrouped for ease of reconciliation with Ind AS. The Regrouped Previous GAAP information is derived from the Financial Statements of the Company prepared in accordance with Previous GAAP.

I. Reconciliation of Balance sheet as at 1st

April, 2016 and 31st March, 2017

(Rs. in lacs)

As At 31st March, 2017

As At 1st April, 2016

(Previous GAAP)*

Ind AS adjustments

IND AS

(Previous GAAP)*

Ind AS adjustments

IND AS

ASSETS

(1) NON- CURRENT ASSETS

(a) Property, Plant & Equipment

1,738.28

0.00

1,738.28

1,818.91

(0.02)

1,818.89

(b) Investment Property

901.83

0.00

901.83

918.68

0.01

918.69

(c) Intangible assets

83.58

0.00

83.58

110.32

0.00

110.32

(d) Financial assets

(i) Investments

2,605.57

9,957.71

12,563.28

2,345.00

4,352.04

6,697.04

(ii) Loans

11.80

-

11.80

10.85

(0.00)

10.85

(iii) Other financial assets

31.47

(0.00)

31.47

34.34

0.00

34.34

(e) Other non-current assets

98.21

0.00

98.21

24.39

0.00

24.39

TOTAL NON - CURRENT ASSETS (2) CURRENT ASSETS

5,470.73

9,957.72

15,428.45

5,262.49

4,352.02

9,614.52

(a) Inventories

1,887.52

(0.00)

1,887.52

1,672.71

(0.00)

1,672.71

(b) Financial assets

(i) Investments

171.26

0.24

171.50

1.80

0.02

1.82

(ii) Trade receivables

228.96

-

228.96

812.69

0.00

812.69

(iii) Cash & Cash equivalents

78.55

(0.01)

78.54

148.37

0.01

148.38

(iv) Bank Balances other than above

3.62

-

3.62

11.88

0.00

11.88

(v) Loans

1,355.89

-

1,355.89

1,311.00

-

1,311.00

(vi) Other financial assets

21.01

-

21.01

30.58

(0.00)

30.58

(c) Other current assets

275.18

-

275.18

347.47

(0.00)

347.47

TOTAL CURRENT ASSETS

4,021.99

0.23

4,022.22

4,336.51

0.02

4,336.53

TOTAL ASSETS

9,492.71

9,957.92

19,450.67

9,598.99

4,352.05

13,951.05

(Rs. in lacs)

As At 31st March, 2017

As At 1st April, 2016

(Previous GAAP)*

Ind AS adjustments

IND AS

(Previous GAAP)*

Ind AS adjustments

IND AS

EQUITY AND LIABILITIES

EQUITY

Equity Share Capital

136.50

-

136.50

136.50

-

136.50

Other Equity

8,203.80

9,856.91

18,060.71

8,067.41

4,229.25

12,296.66

TOTAL EQUITY

8,340.30

9,856.91

18,197.21

8,203.91

4,229.25

12,433.16

LIABILITIES

(1) NON - CURRENT LIABILITIES

(a) Financial liabilities

(i) Other financials liabilities

49.25

-

49.25

44.00

-

44.00

(b) Provisions

75.84

-

75.84

35.41

-

35.41

(c) Deferred tax liabilities (Net)

131.75

101.02

232.77

147.96

139.24

287.20

TOTAL NON - CURRENT LIABILITIES

256.84

101.02

357.86

227.37

139.24

366.61

(Rs. in lacs)

As At 31st March, 2017

As At 1st April, 2016

(Previous GAAP)*

Ind AS adjustments

INDAS

(Previous GAAP)*

Ind AS adjustments

IND AS

(2) CURRENT LIABILITIES

(a) Financial liabilities

(i) Borrowings

134.29

_

134.29

191.38

_

191.38

(ii) Trade Payables

475.47

-

475.47

778.91

0.01

778.91

(iii) Other financials liabilities

7.66

0.00

7.66

21.39

-

21.39

(b) Other Current liabilities

232.36

(0.00)

232.36

104.16

(0.00)

104.15

(c) Provisions TOTAL CURRENT LIABILITIES TOTAL EQUITY AND LIABILITIES

45.82

-

45.82

71.87

(16.42)

55.45

895.60

(0.00)

895.60

1,167.71

(16.41)

1,151.28

9,492.71

9,957.92

19,450.67

9,598.99

4,352.05

13,951.05

* The previous GAAP figures have been reclassified to conform to Ind AS presentation requirements for the purpose of this note.

II Reconciliation of Statement of Profit and Loss for the vear ended 31- March. 2017

(Rs. in lacs)

Previous GAAP

Ind AS adjustments

IND AS

INCOME

Revenue from operations

7,938.00

(242.22)

7,695.78

Other income

295.57

7.07

302.64

TOTAL INCOME

8,233.57

(235.15)

7,998.42

EXPENDITURE

Cost of materials consumed

777.45

0.00

777.45

Purchases of Traded Goods

3,564.85

-

3,564.85

Changes in inventories of finished goods, work-in-

(179.84)

(0.00)

(179.84)

progress and traded goods

Excise duty paid

218.49

-

218.49

Employee benefits expenses

1,424.22

(13.39)

1,410.83

Finance costs

5.80

(0.00)

5.80

Depreciation and amortisation expense

146.74

-

146.74

Advertising and sales promotion expenses

565.57

0.00

565.57

Other expenses

1,657.74

(235.37)

1,422.37

TOTAL EXPENSES

8,181.02

(248.77)

7,932.26

PROFIT BEFORE TAX AND EXCEPTIONAL ITEMS

52.55

13.62

66.16

Exceptional Items

-

-

-

PROFIT BEFORE TAX

52.55

13.62

66.16

TAX EXPENSES

Current tax

45.60

-

45.60

MAT credit entitlement

(35.96)

-

(35.96)

Deferred Tax charge/(credit)

(16.22)

(38.50)

(54.72)

Tax credit relating to earlier years

(77.27)

-

(77.27)

PROFIT AFTER TAX

136.40

52.11

188.51

(Rs. in lacs)

Previous GAAP

Ind AS adjustments

IND AS

OTHER COMPREHENSIVE INCOME

Items that will not be reclassified to profit or loss

a) Remeasurements of net defined benefit plans

-

(13.39)

(13.39)

b) Changes in fair value of FVOCI equity instruments

-

5,591.32

5,591.32

Tax relating to this items

-

4.14

4.14

Items that will be reclassified to profit or loss

a) Changes in fair value of FVOCI debt instruments

-

14.33

14.33

Tax relating to this items

-

(4.43)

(4.43)

OTHER COMPREHENSIVE INCOME FOR THE YEAR

.

5,591.97

5,591.97

TOTAL COMPREHENSIVE INCOME

136.40

5,644.08

5,780.48

III Reconciliation of Equity

(Rs. in lacs)

As at 31st March, 2017

As at 1st April, 2016

Total equity under local GAAP

8,203.80

8,067.41

Adjustments impact: Gain/ (Loss)

Reversal of proposed ordinary dividends payable

-

16.43

Retained Earnings (Gain on opening Ind As Profit & Loss conversion)

9,957.94

4,352.05

Deferred Tax impact on above adjustments

(101.02)

(139.24)

Total IND AS adjustment

9,856.91

4,229.25

Total equity under Ind AS

18,060.71

12,296.66

IV Impact on cash flow statement for the period ended 31st March, 2017

No material changes in the cash flow statements disclosures. Notes to first time adoption

1) Proposed Dividend

Under the previous GAAP, dividend proposed by the Board of Directors after the balance sheet date but before the approval of the financial statements were considered as subsequent events. Accordingly, provision for proposed dividend including dividend distribution tax was recognised as liability. Under Ind AS, such dividends are recognised when the same is approved by the shareholders in the general meeting.

2) Remeasurement of post employment benefit obligations

Under the previous GAAP, cost relating to post employment benefit obligations including actuarial gain/losses were recognised in Profit & Loss. Under Ind AS, actuarial gain/losses on the net defined benefit liability are recognised in other comprehensive income instead of profit & loss.

3) Fair Valuation of Investments

Under previous GAAP, investment in equity instruments were classified into long term and current investments. Long term investments were carried at cost less provision other than temporary in nature. Current investments were carried at lower of cost or fair value. Under Ind AS, these investments are require to be measured at fair value either through OCI (FVTOCI) of Through Profit & loss (FVTPL). The company has opted to fair value these investments through other comprehensive income for Debt and equity Instruments. For its investments in Liquid funds, the Company has opted for fair value through P&L

4) Discounts/Incentives

Under previous GAAP, the Company accounted for revenue net of trade discounts, sales taxes and excise duties. Under Ind AS, the Company will recognise revenue at fair value of consideration received or receivable. Any sales incentive, discounts or rebates in any form including cash discounts given to customer will be considered as selling price reductions and accounted as reduction from revenue.

5) Deferred taxes

Under previous GAAP, deferred tax were recognised based on Profit & loss approach i.e. tax impact on difference between the accounting income and taxable income. Under Ind AS, deferred tax is recognised by following balance sheet approach i.e. tax impact on temporary difference between the carrying value of asset and liabilities in the books and their respective tax base.

51 The Company is yet to receive balance confirmations in respect of certain financial assets and financial liabilities. The Management does not expect any material difference affecting the current year's financial statements due to the same.

52 The previous year's figures have been re-grouped / re-classified wherever required to conform to current period's classification.

53 The financial statements were approved for issue by the Board of Directors on 26th April, 2018.

54 Amount in Rs. 0.00 denotes less than Rs. 1,000/-

For and on behalf of the Board of Directors

Sanjay Kothari

Sohan Sarda

Director

Executive Director & CEO

DIN: 00258316

DIN :00129782

Sonal Naik

Ravindra Gajelli

Company Secretary & Compliance Officer

Chief Financial Officer

Place: Mumbai

Date: 26th April, 2018