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BALANCE SHEET AS AT 31 ST MARCH, 2011 EVEREST KANTO CYLINDER LIMITED As at As at Schedule 31.03.2011 31.03.2010 (Rs. in Lac) (Rs. in Lac) SOURCES OF FUNDS Shareholders’ Funds Share Capital A 2,143.15 2,023.15 Reserves and Surplus B 49,985.90 41,851.81 52,129.05 43,874.96 Loan Funds Secured Loans C 7,592.45 6,325.49 Unsecured Loans D 18,689.04 24,394.90 26,281.49 30,720.39 Deferred Tax Liability (net) 1,387.23 1,415.56 TOTAL 79,797.77 76,010.91 APPLICATION OF FUNDS Fixed Assets E Gross Block 33,154.39 26,999.44 Less: Depreciation / Amortisation 10,675.33 8,272.75 Net Block 22,479.06 18,726.69 Capital Work In Progress 12,856.35 15,774.78 35,335.41 34,501.47 Investments F 14,237.24 9,730.56 Current Assets, Loans and Advances Inventories G 15,292.23 21,012.72 Sundry Debtors H 6,960.15 6,847.47 Cash and Bank Balances I 1,217.58 832.61 Other Current Assets J 933.28 842.91 Loans and Advances K 15,091.72 13,927.06 Less: Current Liabilities and Provisions 39,494.96 43,462.77 Current Liabilities L 7,094.37 10,100.56 Provisions M 2,175.47 1,583.33 9,269.84 11,683.89 Net Current Assets 30,225.12 31,778.88 TOTAL Statement of Significant Accounting Policies 79,797.77 76,010.91 and Notes forming part of Accounts U As per our report of even date For DALAL & SHAH For and on behalf of the Board Firm Registration No. 102021W Chartered Accountants P.K. Khurana Chairman & Managing Director S. Venkatesh Chanda Makhija Thadani Bimal Desai P.M. Samvatsar Partner Company Secretary Chief Financial Officer Whole - Time Director Membership No. F-037942 Mumbai 27 th May, 2011 Balance Sheet Annual Report 2010-11 28
EVEREST KANTO CYLINDER LIMITED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 ST MARCH, 2011 Year Ended Year Ended Schedule 31.03.2011 31.03.2010 (Rs. in Lac) (Rs. in Lac) INCOME Sales 39,713.23) 36,505.49) Less: Excise Duty 2,364.41) 2,260.18) 37,348.82) 34,245.31) Trading Sales 280.60) 661.20) Total Sales 37,629.42) 34,906.51) Other Income N 1,389.11) 874.13) 39,018.53) 35,780.64) EXPENDITURE ) Raw Materials and Components Consumed O 19,046.34) 28,071.67) Trading Purchases 243.89) 643.91) (Increase) / Decrease in Stocks P 4,060.16) (2,715.96) Manufacturing Expenses Q 4,639.79) 3,291.60) Personnel Expenses R 2,623.64) 2,077.09) Administrative, Sales and Other Expenses S 2,457.09) 1,817.33) Finance Charges T 314.84) 312.20) Depreciation / Amortisation for the year 2,419.02) 1,429.00) Own Goods Capitalized (245.00) (65.23) 35,559.77) 34,861.61) Profit before Foreign Exchange Variation and Taxation 3,458.76) 919.03) Foreign Exchange Variation - Gain (net) 91.46) 2,434.99) Profit for the year before taxation 3,550.22) 3,354.02) Provision for Taxation Current Tax (1,330.00) (580.00) Wealth Tax (2.50) (2.00) Deferred Tax (Charge) / Credit 28.33) (627.13) Profit for the year before earlier year adjustments 2,246.05) 2,144.89) Excess Depreciation written back in respect of earlier years, pursuant to change in accouting policy [net of Tax Rs. Nil (Previous Year Rs. 1,023.12 Lac)] (Refer Note 25) –) 1,986.69) Tax Adjustments for Earlier Years (net) 5.70) (82.79) Net Profit 2,251.75) 4,048.79) Balance brought forward from previous year 9,707.17) 8,073.88) Balance available for Appropriation 11,958.92) 12,122.67) Proposed Dividend 1,607.37) 1,213.89) Provision For Dividend Tax 266.96) 201.61) Dividend and Dividend Tax for the year 2009-10 83.96) –) Transferred To General Reserve 1,000.00) 1,000.00) Balance carried to Balance Sheet 9,000.63) 9,707.17) 11,958.92) 12,122.67) Weighted average number of Equity Shares Outstanding during the year 105,859,052) 101,157,682) Basic and diluted earnings per share of Rs. 2 each before Excess Depreciation written back (in Rs.) 2.13) 2.04) Basic and diluted earnings per share of Rs. 2 each after Excess Depreciation written back (in Rs.) 2.13) 4.00) Statement of Significant Accounting Policies and Notes forming part of Accounts U As per our report of even date For DALAL & SHAH For and on behalf of the Board Firm Registration No. 102021W Chartered Accountants P.K. Khurana Chairman & Managing Director S. Venkatesh Chanda Makhija Thadani Bimal Desai P.M. Samvatsar Partner Company Secretary Chief Financial Officer Whole - Time Director Membership No. F-037942 Mumbai 27 th May, 2011 Annual Report 2010-11 Profit and Loss Account 29
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