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Company Information

Home » Market » Company Information

Value Industries Ltd.

Oct 08
2.27 -0.11 ( -4.62 %)
 
VOLUME : 4441
Prev. Close 2.38
Open Price 2.28
TODAY'S LOW / HIGH
2.27
 
 
 
2.28
Bid PRICE (QTY.) 0.00 (0)
Offer PRICE (Qty.) 0.00 (0)
52 WK LOW / HIGH
2.27
 
 
 
11.70
Value Industries Ltd. is not traded in NSE
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Market Cap. ( ₹ ) 14.89 Cr. P/BV 0.08 Book Value ( ₹ ) 47.47
52 Week High/Low ( ₹ ) 0/0 FV/ML 10/1 P/E(X) 0.00
Bookclosure 29/09/2017 TTM EPS ( ₹ ) -66.80 Div Yield (%) 0.00
NOTES TO ACCOUNTS
You can view the entire text of Notes to accounts of the company for the latest year
Year End :2016-03 

1 Secured Loans:

a) Rupee Term Loans from Banks

The Company along with 12 other affiliates/entities (collectively referred to as ‘Obligors’ and individually referred to as ‘Borrower’) executed facility agreement with consortium of existing domestic rupee term lenders, in the obligor/co-obligor structure, wherein all the Rupee Term Loans of the Obligors are pooled together. The Borrower entities covered are Value Industries Limited, Videocon Industries Limited (VIL), Trend Electronics Limited, KAIL Limited, Millennium Appliances India Limited, Applicomp (India) Limited, Sky Appliances Limited, Techno Electronics Limited, Century Appliances Limited, PE Electronics Limited, Techno Kart India Limited, Evans Fraser and Co. (India) Limited and Videocon International Electronics Limited.

Rupee Term Loans from Banks are secured by first pari-passu charge on all present and future tangible/intangible assets of each of the Borrower, first pari-passu charge on the Trust and Retention Accounts of the Borrowers, second pari-passu charge on Identified Assets of Videocon Hydrocarbon Holdings Limited’s (VHHL) subsidiaries through pledge of entire shareholding of VHHL in these overseas subsidiaries, second charge on pledge of 100% shares of Videocon Oil Ventures Limited and VHHL held by VIL, second pari-passu charge on VHHL’s share of cash flows from Identified Assets and second pari-passu charge over current assets of each of the Borrowers. The Rupee Term Loans are also secured by first ranking pledge over specified numbers of equity shares of Videocon Industries Limited, Trend Electronics Limited and Value Industries Limited held by the promoters, the personal guarantee of Mr. Venugopal N. Dhoot, Mr. Pradipkumar N. Dhoot, Mr. Rajkumar N. Dhoot and first pari-passu charge on ‘Videocon’ brand (Also refer Note No. 35).

2 Working Capital Loans from Banks are secured against hypothecation of the Company’s stock of raw materials, packing materials, stock-in-process, finished goods, stores and spares, book debts and other current assets of the Company. The loans are further secured by personal guarantee of Mr. Venugopal N. Dhoot, Mr. Rajkumar N. Dhoot and Mr. Pradipkumar N. Dhoot.

Note: This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006, has been determined to the extent such vendors/parties have been identified on the basis of information available with the Company.

3. ADDITIONAL NOTES TO FINANCIAL STATEMENTS

4 The Company has kept the investment activities separate and distinct from the normal business. Consequently, all the income and expenditure pertaining to investment activities has been allocated to the Investments and Securities Division and the income after netting off the related expenditure has been shown as “Income from Investments and Securities Division”. The Income from Investments and Securities Division include dividend on long term investments of ' Nil (Previous year ' 0.01 Million).

5. RELATED PARTY DISCLOSURES:

As required under Accounting Standard 18 on “Related Party Disclosures”, the disclosure of transaction with related parties as defined in the Accounting Standard are given below:

A) List of Related Parties where control exists and related parties with whom transactions have taken place and relationship:

Key Management Personnel:

Mr. K. K. Sukumaran - Assistant General Manager (upto 13th August,2015)

Mr. Yogesh Deshmukh- Manager (w.e.f. 14th August, 2015)

B) Material Transactions with Related Parties during the year are:

Remuneration to Key Management Personnel - ' 1.39 Million (Previous year ' 2.57 Million)

6. The Company along with 12 other affiliates/entities (collectively referred to as ‘Obligors’ or individually as ‘Borrower’) executed Facility Agreement with the consortium of existing domestic rupee term lenders, under the obligor/co-obligor structure, wherein all the Rupee Term Loans of the Obligors are pooled together. The Borrower entities are Videocon Industries Limited, Value Industries Limited, Trend Electronics Limited, KAIL Limited, Millennium Appliances India Limited, Applicomp (India) Limited, Sky Appliances Limited, Techno Electronics Limited, Century Appliances Limited, PE Electronics Limited, Techno Kart India Limited, Evans Fraser and Co. (India) Limited and Videocon International Electronics Limited. As the Company is a co-obligor, it is contingently liable in respect of the borrowings of other Obligors/ Borrowers to the extent of outstanding balance of Rupee Term Loans as on 31st March, 2016 of ' 192,780.96 Million (As on 31st December, 2014 of ' 195,181.84 Million).

7. The Directorate of Revenue Intelligence, Mumbai Zonal Unit (‘DRI’) has on 30th December, 2014, issued a Show Cause Notice (‘SCN’) in connection with import of Colour Picture Tubes (‘CPTs’) by the Company and other concerns. Vide SCN, the Company was called upon, amongst others, as to why the declared value of CPTs imported should not be rejected and the same should not be re-determined and why the amount of anti-dumping duty of ' 6.94 Million and penalty thereon should not be recovered under the extended period under the provisions of the Customs Act, 1962.

The Company has denied the allegation made by DRI for alleged evasion of duty. The Company has been advised by its counsels that as the goods in question are not domestically produced or manufactured in India, the question of levy of anti-dumping duty is untenable and, accordingly, there is no question of duty evasion or penalty thereon and no provision has been considered in the financial statements.

8. The Company is primarily engaged in manufacturing and trading of Electrical and Electronic Appliances and there is no other reportable segment as defined in Accounting Standard 17 on “Segment Reporting”.

9. The outstanding balances of certain Trade Receivables, Trade Payables, Deposits, Advances and Other Current Assets/ Liabilities are subject to confirmation and reconciliation, if any. However, in the opinion of the management, adjustment, if any, will not be material.

10. In the opinion of the Board, the value on realization of Current Assets, Loans and Advances in the ordinary course of the business would not be less than the amount at which they are stated in the Balance Sheet and the provision for all known and determined liabilities is adequate and not in excess of the amount reasonably required.

11. There are no amounts due and outstanding, to be credited to the Investor Education and Protection Fund.

12. The figures for the current period are for a period of 15 months whereas the figures of the previous year were for 12 months and hence are not comparable. Previous year figures have been reclassified, restated, recanted to conform to the classification of the current period.