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Company Information

Home » Market » Company Information

Eurotex Industries & Exports Ltd.

Aug 14
22.25 -0.75 ( -3.26 %)
 
VOLUME : 532
Prev. Close 23.00
Open Price 22.20
TODAY'S LOW / HIGH
22.20
 
 
 
23.00
Bid PRICE (QTY.) 0.00 (0)
Offer PRICE (Qty.) 0.00 (0)
52 WK LOW / HIGH
21.00
 
 
 
42.80
Aug 14
22.05 -1.70 ( -7.16 %)
 
VOLUME : 2125
Prev. Close 23.75
Open Price 24.85
TODAY'S LOW / HIGH
21.85
 
 
 
24.85
Bid PRICE (QTY.) 0.00 (0)
Offer PRICE (Qty.) 0.00 (0)
52 WK LOW / HIGH
20.00
 
 
 
43.45
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Market Cap. ( ₹ ) 19.29 Cr. P/BV 0.46 Book Value ( ₹ ) 47.55
52 Week High/Low ( ₹ ) 43/20 FV/ML 10/1 P/E(X) 0.00
Bookclosure 23/09/2017 TTM EPS ( ₹ ) -16.54 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 :2015-03 1 Right of Equity Shareholders:

Company has only one class of equity shares of par value Rs.10. The holder of this equity share is entitled to one vote per share. In the event of liquidation of the Company the holder of equity share will be entitled to receive any of the remaining assets of the Company after distribution of the preferential payments. However, no such preferential amounts exist currently. The distribution will be in proportion to the nos. of equity shares held by the shareholders.

2 Notes:

1) Term Loans at (a) (i) above are secured by way of first pari-passu mortgage created on immovable properties of the Company, situated at MIDC, Gokul Shirgaon, Kolhapur and other movable assets both present and future and second pari-passu charge created on inventories and book debts both present and future and some immovable properties of the Company at Kolhapur.

2) Loans in (a)(ii) above are secured by way of hypothecation of Vehicles purchased there against.

3 Contingent assets are not recognised or disclosed in the financial statement.

                                               As at          As at
                                           31st March,     31st March,
                                            2015            2014
                                        (Rs. in Lacs)     (Rs. in Lacs)

3 OTHER NOTES TO FINANCIAL STATEMENTS

1. Contingent liabilities :

Contingent liabilities not provided for in respect of :

a) Amount outstanding in respect of Bills discounted under Export 1,480.02 3,195.05 Letter of Credit (Since realised Rs.498.82 Lacs; Previous Year Rs.1199.69 Lacs)

b) Disputed Statutory claims / levies, including, those pending incourtand other claims not acknowledged as debts (excluding interestwhere not ascertained / demanded) in respect of:

                                                      (' Rs. Lacs)
Sr.
No       Particulars          Current Year          Previous Year

a        Sales Tax                 408.44               330.92

b        Excise Duty             1,391.32             1,391.32

c        Custom Duty               136.39               136.39
c) "The Company's pending litigations comprise of claims against the Company and proceedings pending with tax and other Authorities. The Company has reviewed all its pending litigations and proceedings and has made adequate provisions, wherever required and disclosed the contingent liabilities, wherever applicable, in its financial statements. The Company does not reasonably expect the outcome of these proceedings to have a material impact on its financial statements."

4). a) The Company's case in the matter of Electricity Charges wrongly claimed by Maharashtra State Electricity Distribution Company Ltd. (MSEDCL) from November, 1998 to June, 2008 has been decided favourably by Maharastra Electricity Regulatory Commission (MERC) and Appellate Tribunal, New Delhi. MSEDCL has filed an appeal before the Supreme Court.

b) Similarly the High Court of Mumbai has in the matter of Electricity

5). a) In the opinion of Board, the assets other than Fixed Assets and non-current Investments have a value on realisation in the ordinary course of business, atleast equal to the amount at which they are stated in the Balance Sheet. The provision for depreciation and other known liabilities is adequate and not in excess of what is required.

b) The account of certain Trade Receivables, Loans and Advances given / received, Trade Payables and Bank Accounts are, however, subject to formal confirmations and reconciliations, if any. The management, however, is confident that the impact whereof for the year on the financial statements will not be material.

6). Related Party disclosures pursuant to Accounting Standard '18':

1. Name of the Parties:

(i) Key Management Personnel:

Shri Krishan Kumar Patodia (Chairman and Managing Director)

Shri Narayan Patodia (Managing Director)

Shri Rajiv Patodia (Executive Director & CFO w.e.f. 8th November, 2014)

Shri Rahul Rawat (Company Secretary)

(ii) Other Related Parties (Associates), where transactions have taken place during the year: PBM Polytex Limited

Patodia Syntex Limited Murarilal Mahendra Kumar Paramount Cotton Co.

provision has been made tor doubtful debts/receivables.

7). In terms ot Accounting Standard 17, the Company operates primarily only in one business segment Viz. Cotton yarn and has its production facilites and all other assets located in India. Sales comprises exports sales ot Rs. 20,180.78 Lacs (Previous year Rs. 25,021.61 Lacs) and Domestic sales of Rs. 6,789.91 Lacs (Previous year Rs. 8,222.32 Lacs).

8). During the year, certain freehold land has been converted into stock-in-trade and included in the inventory at cost. (Fair Value as per Govt. Valuer is 106.75 lacs).

9). Previous years' figures have been regrouped / rearranged wherever necessary to conform with current year's presentation.