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Company Information

Home » Market » Company Information

Indo National Ltd.

Nov 29, 11:40
439.10 -10.95 ( -2.43 %)
 
VOLUME : 250
Prev. Close 450.05
Open Price 444.75
TODAY'S LOW / HIGH
430.70
 
 
 
444.75
Bid PRICE (QTY.) 438.10 (2)
Offer PRICE (Qty.) 440.15 (2)
52 WK LOW / HIGH
286.13
 
 
 
641.23
Nov 29, 11:28
439.50 -11.40 ( -2.53 %)
 
VOLUME : 4543
Prev. Close 450.90
Open Price 449.00
TODAY'S LOW / HIGH
431.30
 
 
 
449.00
Bid PRICE (QTY.) 438.50 (1)
Offer PRICE (Qty.) 440.95 (2)
52 WK LOW / HIGH
293.03
 
 
 
641.20
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Market Cap. ( ₹ ) 329.63 Cr. P/BV 1.36 Book Value ( ₹ ) 322.66
52 Week High/Low ( ₹ ) 641/293 FV/ML 5/1 P/E(X) 10.85
Bookclosure 29/10/2021 TTM EPS ( ₹ ) 36.16 Div Yield (%) 2.84
NOTES TO ACCOUNTS
You can view the entire text of Notes to accounts of the company for the latest year
Year End :2018-03 

Note: In terms of order dated 19th April 2018 received on 02nd May 2018, the Competition Commission of India (CCI) has imposed penalty of Rs. 4226.00 lakhs for alleged cartelization in respect of Zinc carbon dry cell batteries market in India. The Company had filed an appeal against order of CCI before the National Company Law Appellate Tribunal (NCLAT) . NCLAT has granted stay on the CCI order on the condition that the Company should deposit 10% of the penalty amounting to Rs.422.00 Lakhs .The Company Based on the legal opinion and considering the uncertainty relating to outcome of this matter, no provision has been considered in the books of account.

Disclosure as per Regulation 34 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015

28.2 Particulars of Loans, guarantees or investments covered under Section 186(4) of the Companies Act, 2013

28. ADDITIONAL INFORMATION TO THE FINANCIAL STATEMENTS DISCLOSURES UNDER INDIAN ACCOUNTING STANDARDS (CONTD.)

28.3 Employee benefit plans Defined contribution plans

In accordance with Indian law, eligible employees of the Company are entitled to receive benefits in respect of provident fund, a defined contribution plan, in which both employees and the Company make monthly contributions at a specified percentage of the covered employees' salary. The contributions, as specified under the law, are made to the Provident Fund.

The total expense recognized in profit or loss of Rs. 167.87 Lakhs (for the year ended March 31, 2017: Rs.161.97 Lakhs) represents contribution paid to these plans by the Company at rates specified in the rules of the plan.

Defined benefit plans a) Gratuity

Gratuity is payable as per Payment of Gratuity Act, 1972. In terms of the same, gratuity is computed by multiplying last drawn salary (basic salary including dearness Allowance if any) by completed years of continuous service with part thereof in excess of six months and again by 15/26. The Act provides for a vesting period of 5 years for withdrawal and retirement and a monetary ceiling on gratuity payable to an employee on separation, as may be prescribed under the Payment of Gratuity Act, 1972, from time to time.

These plans typically expose the Company to actuarial risks such as: investment risk, interest rate risk and salary risk.

Investment risk The present value of the defined benefit plan liability is calculated using a discount rate determined by reference to the market yields on government bonds denominated in Indian Rupees. If the actual return on plan asset is below this rate, it will create a plan deficit.

Interest risk A decrease in the bond interest rate will increase the plan liability. However, this will be partially offset by an increase in the return on the plan's debt investments. Longevity risk The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan's liability.

Salary risk The present value of the defined benefit plan liability is calculated by reference to the future salaries of plan participants. As such, an increase in the salary of the plan participants will increase the plan's liability.

28.5 Related party transactions 28.5A Details of related parties:

Description of relationship Names of related parties

SUBSIDIARIES Helios Strategic Systems Ltd.

Kineco Limited

Kineco Alte Train Technologies Pvt. Ltd.

Kineco Kaman Composites India Private Limited

ENTERPRISES WITH

SIGNIFICANT INFLUENCE Apex Agencies

Associated Electrical Agencies

Kalpatharu Enterprises Pvt. Ltd

Radiohms Properties Pvt. Ltd

Radiohms Agencies

RAL Consumer Products Limited

Deccan Hospitals (A Unit of Apollo Hospitals Ent. Ltd)

KEY MANAGERIAL PERSON

Executive Directors P Dwaraknath Reddy

R.P Khaitan P Aditya Reddy

28.5B Details of related party transactions during the year ended March 31, 2018 and balances outstanding as at March 31, 2018:

28.10 Risk Management framework

The company's Board of Directors has overall responsibility for the establishment and oversight of the company's risk management framework. The board has constituted the risk management committee which carries on the following functions:

1. The implementation of Risk management systems and framework;

2. Reviewing the Company's financial and risk management policies;

3. Assessing risk and minimizing the procedures;

4. Framing, implementing and monitoring the risk management plan.

The Company's risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company's activities. The Company, through its training and management standards and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles and obligations.

The Risk management Committee oversees how management monitors compliance with the Company's risk management policies and procedures, and reviews the adequacy of the risk management framework in

28.10 Risk Management framework (Contd.) relation to the risks faced by the Company. The Risk management Committee is assisted in its oversight role by internal audit. Internal audit undertakes both regular and ad hoc reviews of risk management controls and procedures, the results of which are reported to the audit committee.

The company has exposure to the following risks arising from its financial risk management:

Credit risk Liquidity risk Commodity price risk Foreign currency risk

The Company manages its financial operations with its own accruals and hence is not subject to interest rate risk. The company manages its working capital with its own stock and debtors. However, the overdraft/ cash credit facility from our bankers are utilized to manage the working capital gap as and when required. The company does not for see any requirement for long term funding in the near future.

Credit risk management

Credit risk is the risk of financial loss to the company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company's trade receivables, deposits and other financial assets.

Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of customers to which the Company grants credit terms in the normal course of business. The company has established a strong liquidity damage agreement with its customers. The normal credit period for trade receivable is 15 days and any settlement beyond 15 to 90 days and thereafter is compensated as per the LD agreement.

The company based on internal assessment which is driven by the historical experience and current facts available in relation to default and delays in collection thereof has decided not to make any expected credit loss of trade receivables. The company does not for see any requirement to create the allowance matrix considering the past trend, future operations and materiality of doubtful/bad debts incurred till now. Refer Note. 8A

Liquidity risk management

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company's approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the company's reputation. The average credit period for purchase of materials and traded products ranges from 30 to 60 days and the company settles the significant portion of the obligation within the aforesaid credit period. The company's working capital is adequately supported by Stock, Book debts and Bank overdraft/ CC facilities.

Commodity price risk management

The Company is exposed to commodity price risk, mainly in respect of Zinc, which is a key raw material in the manufacture of batteries. The price risk is linked to fluctuations in London Metal Exchange (LME). The Company manages the price risk by entering into a average price agreement with the vendor.

Foreign currency risk management

The Company undertakes transactions denominated in foreign currencies; consequently, exposure to exchange rate fluctuations arise. The company has the policy of settling the foreign exchange exposure within 5 to 10 days to mitigate the foreign currency risk.

28.12 Fair value measurements

The company has not recognized any financial asset / liability at fair value. The directors consider that the carrying amounts of financial assets and financial liabilities that are recognized at fair value in the financial statements approximate their fair values.

28.13 Approval of Financial Statements

The financial statements were approved for issue by the Board of Directors on May 23, 2018.