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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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