The dawn of 5 Star flying The dawn of 5 Star flying - Kingfisher Airlines

More documents

Recommendations

Info

11. Expenditure in foreign currency (on accrual basis) 58 Salaries and allowances Travelling & Conveyance Particulars Professional & Consultancy expenses Training expenses Aircraft and other maintenance expenses Lease rentals Ticket distribution and reservation system Interest Fuel Purchase Airport Charges Ground Handling Redelivery costs Others 12. Value of components and spare parts consumed Imported Indigenous Schedules forming part of accounts for the year ended March 31, 2009 (Contd.) Particulars Year ended March 31, 2009 892,956,659 404,749,011 49,892,252 151,170,513 3,982,606,531 11,851,321,991 2,247,355,770 595,325,114 90,869,927 293,796,020 201,379,010 1,845,783,634 2,088,515 Year ended March 31, 2009 (In Rupees) Nine months ended March 31, 2008 583,029,085 7,877,116 90,455,048 112,181,349 1,525,024,832 3,547,325,084 53,537,426 50,655,855 Nil Nil Nil Nil 1,803,015 Nine months ended March 31, 2008 Amount (Rs.) % Amount (Rs.) % 344,905,618 166,952,211 67 33 352,817,857 85,038,716 Total 511,857,829 100 437,856,573 100 13. a) Buildings constructed at a cost of Rs. 8,873,587 are on land rented from the State Government, for which lease has been transferred to Deccan Charters Limited (DCL). Such rental agreement is renewable on an annual basis. The Company is in the process of entering into an appropriate arrangement with DCL. b) Buildings Constructed at a cost of Rs. 86,585,820 are on land belonging to the Airport Authority of India. Such rental agreements are renewable on a periodical basis. 14. Capital work-in-progress includes capitalized interest on borrowings for purchase of fixed assets. The movement in the account is given below: (In Rupees) Particulars Year ended March 31, 2009 81 19 Nine months ended March 31, 2008 Opening Balance 215,766,254 175,868,321 Add: Taken over from KTASL pursuant to Scheme 1,493,958,827 Nil Add: Interest capitalized during the year / period 1,228,173,402 148,604,879 Less: Deletions on account of delivery and cancellation of orders of aircrafts (1,002,302,648) (108,706,946) Closing Balance 1,935,595,835 215,766,254
Schedules forming part of accounts for the year ended March 31, 2009 (Contd.) 15. Employee Stock Option Plan [ESOP] On March 16, 2005, the shareholders of the Company approved an employee stock option plan [ESOP 2005]. Further on December 21, 2005, the Board of Directors approved the ESOP 2006 scheme, which will govern issuance of options on or after January 1, 2006. Options issued under ESOP 2005 would continue to be governed under ESOP 2005. The shareholders have approved the issuance of 8,181,779 options in aggregate subject to a maximum of 10% of the aggregate number of issued and outstanding equity shares (calculated on an as converted basis), under both the options put together. During the year ended March 31, 2009, no options under ESOP 2006 scheme have been issued. Details of number and weighted-average exercise prices of options are given below: Particulars Outstanding at the beginning of the year / period Number of options Year ended March 31, 2009 Weighted average exercise price (per share) (In Rupees) Nine months ended March 31, 2008 Number of options Weighted average exercise price (per share) (In Rupees) 3,485,665 65 3,414,470 65 Granted during the year / period Nil Nil 731,400 65 Exercised during the year / period 77,030 65 328,385 65 Forfeited during the year / period 1,615,455 65 331,820 65 Outstanding at the end of the year / period 1,793,180 65 3,485,665 65 Exercisable at the end of the year / period 608,170 65 304,455 65 The weighted average price of the share on exercise date was Rs. 87.69. The weighted average contractual remaining life of the options is 7.73 years as at March 31, 2009. The Company has determined intrinsic values, based on the fair value of the shares on the date of grant, as follows: Month & year of grant Intrinsic value determined (Rs.) June 2005 62.97 December 2005 62.97 April 2007 49.90 September 2007 83.80 February 2008 91.95 The Company has written back deferred compensation expense of Rs. 15,660,635 during the year, on account of forfeitures for options issued. (During the nine months ended March 31, 2008 the Company recorded an expenditure of Rs. 11,420,490 net of forfeiture) (In Rupees) Accounting value of stock options outstanding 101,444,258 Less: Deferred stock compensation expense to be amortized in future years 20,349,839 Employee stock option outstanding 81,094,419 59
Page 1 and 2: The dawn of 5 Star flying
Page 3 and 4: BOARD OF DIRECTORS Dr. Vijay Mallya
Page 5 and 6: Report of the Directors (Contd.) on
Page 7 and 8: Report of the Directors (Contd.) No
Page 9 and 10: Report of the Directors (Contd.) ST
Page 11 and 12: Corporate Governance (Contd.) Sl. N
Page 13 and 14: Corporate Governance (Contd.) pilot
Page 15 and 16: Corporate Governance (Contd.) of yo
Page 17 and 18: Corporate Governance (Contd.) Date
Page 19 and 20: Corporate Governance (Contd.) l) Sh
Page 21 and 22: Corporate Governance (Contd.) q) Pe
Page 23 and 24: Management Discussion and Analysis
Page 29 and 30: Auditors' Report (Contd.) 8. As a r
Page 31 and 32: Annexure to the Auditors' Report (C
Page 33 and 34: Profit and Loss Account for the yea
Page 35 and 36: Schedules annexed to and forming pa
Page 42 and 43: SCHEDULE - 19 Notes to the financia
Page 44 and 45: 52 (e) Depreciation (Contd.) 1956 w
Page 46 and 47: 54 (n) Foreign currency transaction
Page 48: 56 Demands raised by tax authoritie
Page 55 and 56: Schedules forming part of accounts
Page 63 and 64: Statement pursuant to Section 212 o
Page 65 and 66: Cash Flow Statement for the year en
Page 67 and 68: VITAE INDIA SPIRITS LIMITED Directo
Page 69 and 70: Annexure to the Auditors’ Report
Page 71 and 72: Profit and Loss Account for the per
Page 73 and 74: Schedules forming part of the Accou
Page 75 and 76: Cash Flow Statement for the period
Page 77 and 78: NOTES 85
Page 79 and 80: NOTES 87
Page 81 and 82: Dr. Vijay Mallya Capt. G.R. Gopinat

The dawn of 5 Star flying The dawn of 5 Star flying - Kingfisher Airlines

Create successful ePaper yourself

Delete template?

Save as template?