Download - ZF Steering Gear (India) Ltd.
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Notes forming part of the Financial Statements (Contd....)<br />
Rupees in Million<br />
For the year ended For the year ended<br />
31st March, 2013 31st March, 2012<br />
NOTE 20 - OTHER INCOME<br />
Interest Income 8.05<br />
0.20<br />
Dividend Income from long term investments 5.84<br />
5.87<br />
Net gain on sale of investments-long term 89.45<br />
45.39<br />
Net gain on foreign currency transaction and translation ( 0.76)<br />
4.57<br />
Sundry provisions and credit balances no longer required, written back 1.17<br />
6.88<br />
Other non-operating income (net of expenses directly attributable to such income)<br />
11.05<br />
12.25<br />
Total 114.80<br />
75.16<br />
NOTE 21 - COST OF MATERIAL CONSUMED<br />
Raw Material Consumed (including purchase of traded goods) 1,897.46<br />
2,238.22<br />
Fabrication and Processing charges 39.05<br />
54.41<br />
Packing Material Consumed 28.84<br />
29.03<br />
Total 1,965.35<br />
2,321.66<br />
NOTE 22 - CHANGES IN INVENTORIES OF FINISHED GOODS<br />
AND WORK - IN - PROGRESS<br />
Opening stock(A)<br />
Work - in - progress 41.82<br />
33.04<br />
Finished goods 0.61<br />
-<br />
42.43<br />
33.04<br />
Closing stock(B)<br />
Work - in - progress 44.83<br />
41.82<br />
Finished goods 0.69<br />
0.61<br />
45.52<br />
42.43<br />
A-B (3.09)<br />
(9.39)<br />
NOTE 23 - EMPLOYEE BENEFITS EXPENSE<br />
Salaries and Wages 282.48<br />
273.08<br />
Contribution to provident and other funds 11.07<br />
8.66<br />
Staff welfare expenses 19.51<br />
23.71<br />
Total 313.06<br />
305.45<br />
NOTE 24 - FINANCE COSTS<br />
Interest Expense 31.36<br />
6.15<br />
Other Borrowing Costs 5.00<br />
5.69<br />
Total 36.36<br />
11.84<br />
NOTE 25 - OTHER EXPENSES<br />
Power and Fuel (Net of Credit for Windmill Income of Rs. 56.99 Million 25.95<br />
18.32<br />
(P.Y. Rs. 66.94 Million) captively consumed)<br />
Repairs and Maintenance -<br />
Buildings 12.58<br />
10.24<br />
Machinery 29.88<br />
30.96<br />
Others 9.49<br />
8.74<br />
51.95<br />
49.94<br />
Insurance 2.64<br />
3.06<br />
Rates & Taxes (excluding taxes on income) 1.52<br />
5.24<br />
Excise Duty -<br />
Relating to changes in inventories of finished goods 0.06<br />
0.07<br />
Loss on sale/write off of fixed assets (net) 2.65<br />
-<br />
Selling and Distribution Expenses 42.62<br />
60.88<br />
Windmill Expenses 17.48<br />
7.73<br />
3.11 -<br />
Solar Expenses<br />
Payment to Auditors (Net of Service Tax) -<br />
Audit Fees 0.25<br />
0.20<br />
Tax Audit Fees 0.08<br />
0.06<br />
VAT Audit Fees 0.04<br />
0.04<br />
For Certification and other related work 0.01<br />
0.04<br />
Limited Review 0.06<br />
0.05<br />
0.44<br />
0.39<br />
Miscellaneous expenses 62.16<br />
76.59<br />
Total 210.58<br />
222.22<br />
..29..
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