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Company Information

Home » Market » Company Information

Atlas Jewellery India Ltd.

Jun 11
31.00 +0.10 (+ 0.32 %)
 
VOLUME : 8124
Prev. Close 30.90
Open Price 30.50
TODAY'S LOW / HIGH
30.30
 
 
 
31.80
Bid PRICE (QTY.) 0.00 (0)
Offer PRICE (Qty.) 0.00 (0)
52 WK LOW / HIGH
22.20
 
 
 
69.70
Atlas Jewellery India Ltd. is not traded in NSE
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Market Cap. ( ₹ ) 312.03 Cr. P/BV 1.87 Book Value ( ₹ ) 16.55
52 Week High/Low ( ₹ ) 70/22 FV/ML 10/1 P/E(X) 33.77
Bookclosure 25/09/2020 TTM EPS ( ₹ ) 0.15 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 :2018-03 

25 (8) The Company has filed an appeal before CIT-(A), Kochi related to assessment orders for assessment year 2014-15 and 2015-16 and the matter is being heard by the CIT-A. The company had also filed an application for stay of demand before Principle Commissioner, Kochi till the order is disposed by CIT-A. The Principle Commissioner had allowed the company to pay Rs.2.00 lacs per month per assessment year or till the matter is disposed of, whichever is earlier. The

Company has duly complied with the Principle Commissioner's orders.

Since the matter is yet to be disposed of, the Company had again filed an application before the Principle Commissioner, Kochi, seeking extension of the earlier order. The matter was heard but no order has been passed till date.

The Company as a matter of abundant caution, has made a provision for income tax as per the earlier order of the Principle Commissioner for the balance period of the financial year 17-18 amounting to Rs.32 lacs.

25(9) During the year the company had undertaken BZB diamond jewellery sales to SSSV Jewellers Private Limited (SSSV) totaling to 204.16 CT out of the total diamond jewellery Stock of 1655.938 CT. The sale was done below cost price as the items sold were more than 3- year—old and hence the purchase price as on date is lower compared to the purchase price 3 years earlier. Hence this negotiated price is can't be considered as a representative price of the lot.

Further as per normal whole price in the market (diamond being subdued presently) R532—35'000 per CT, of course it would also vary depending on cut, clarity, colour and weight.

Diamonds sales usually entail a credit period of 50 to 75 days.

In our estimate the deal done was at a fair and reasonable price, considering the terms of the sale, access to new market, lower credit period (30 days in our case) and gold price at current days rate.

The other significant point relates to risk. In normal retail sales cash back, exchange facilities must be provided without any time period and hence there could be a buy back after a year as per policy and this is a risk as we have to take back the products.

Within 7 days of purchase the product can be returned with full refund. This facility was not given in the said deal as evident from the face of the invoices raised in the said transaction.

25(12) The company has not made any provision for the listing fees payable to the various stock exchanges in the books of accounts. This expense is recognized on payment basis.

25(13) In pursuant to Indian Accounting Standards (Ind AS-24) “Related Party Disclosures” that the Company has not make any transactions with the any it's related party during the year.

25(14) Managerial Remuneration to Whole Time Director Provided/ Paid - Rs 7,86,290

25(18) (Loss)/Income on difference in exchange rates on account of foreign currency transactions relating to overseas debtors amounting to Rs. 42,69,200 {Previous Year - Loss of Rs. 3,10,43,625/-} has been grouped with Other Expenses/Other Income respectively.

25(19) In the opinion of the Board, the Current Assets, Loan and Advances are stated at a value, considered realizable in the ordinary course of business.

25(20) The Company's operations predominantly comprise of only one segment - Gold & Jewellery, therefore operationally segment reporting does not apply.

25(21) Previous Year's figures have been re-grouped/re-arranged wherever necessary to render them comparable with the current year’s figures.

25(22) Figures (including Previous Year Figures) have been rounded off to the nearest rupee.