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Notes forming part of the Financial Statements (Contd....) NOTE 30 - RELATED PARTY DISCLOSURES: A) Name of the related party and nature of relationship where control exists: Name of Related Party ZF Lenksysteme, GmbH ZF Shanghai Steering Co.Ltd., China ZF Sistemas De Direcao Ltd, Brazil ZF Steering Jincheng (Nanjing),China Varsha Forgings Ltd. ZF Lenksysteme India Pvt Ltd. (Company has 26% stake in the company) Mr. Dinesh Munot - Chaiman & Managing Director Mr. Jinendra Munot - Jt. Managing Director Mr. Utkarsh Munot - Executive Director Mrs.Etika U Munot - Manager Co-Ordination (S.A.P. & H.R.) Nature of Relationship Foreign Collaborator : Associated Companies of ZF Lenksysteme, GmbH Director's interested company Joint venture company Key Managerial Personnel Relative of Key Managerial Personnel B) Related Party Transactions: Rs. in million Name of Related Party Description of Relationship Nature of Transactions Amount of Transactions 2012-13 Amount Outstanding at the end of year 31-03-2013 Amount of Transactions 2011-12 Amount Outstanding at the end of year 31-03-2012 Credit Debit Credit Debit Sale of Goods 0.96 0.92 ZF Lenksysteme, GmbH Foreign Collaborator Purchase of Raw materials & components 210.77 14.60 227.19 26.38 Dividend paid during the year 11.70 - 23.40 - Other related parties: Sale of 1.72 0.45 - 0.60 0.01 - ZF Shanghai Steering Co. Ltd., China Goods ZF Sistemas De Direcao Ltd., Brazil Associate Companies ZF Steering Jincheng (Nanjing), China Purchase of Raw materials & components 252.97 37.60 230.74 40.18 (0) Varsha Forgings Ltd. Director's Interested Company Zf Lenksysteme India Pvt. Ltd. Joint Venture Company Rent and other services - - - 1.10 - (0.24) Mr. Dinesh Munot Key Managerial Personnel Remuneration 21.78 4.79 - 25.45 10.50 - Mr. Jinendra Munot Key Managerial Personnel Remuneration 12.68 2.65 - 17.69 8.00 - Mr. Utkarsh Munot Key Managerial Personnel Remuneration 8.04 2.40 - 9.79 5.50 - Mrs.Etika U Munot Relative of Key Managerial Remuneration 0.15 0.08 - - - - Personnel ..32..
Notes forming part of the Financial Statements (Contd....) NOTE 31 - EARNINGS PER SHARE (a) The amount used as the numerator in calculating basic and diluted earnings per share is the net profit after tax for the year disclosed in the Profit and Loss Statement. (b) The weighted average number of equity shares used as the denominator in calculating both basic and diluted earnings per share is 9,073,300 NOTE 32- Details of provisions and movements in each class of provisions as required by theAccounting Standard on Provisions, Contingent Liabilities and ContingentAssets (Accounting Standard-29) Rs. In Million As at As at Particulars 31st March, 2013 31st March, 2012 Warranty Warranty CarryingAmount at the beginning of the year 4.00 2.50 Additional Provision made during the year 2.90 13.19 Amounts Used during the year 3.15 11.69 Unused amounts reversed during the year - - CarryingAmounts at the end of the year 3.75 4.00 Brief description of the nature of the obligation and the expected timing of any resulting outflows of economic benefits : Warranty Provision: Warranty cost are accrued at the time of products are sold, based on past experience. The provision is discharged over the warranty period of 18 months from the date of sale. NOTE 33 - Value of imported and indigenous raw materials, components and packing material consumed: Particulars For the year ended 31st March, 2013 For the year ended 31st March, 2012 Value (Rs. In Million) Percentage ( % ) Value (Rs. In Million) Percentage ( % ) Imported 459.28 23.41 449.94 19.46 Indigenously obtained 1,502.97 76.59 1,862.33 80.54 Total 1,962.25 100.00 2,312.27 100.00 NOTE 34 - CIF Value of Imports Particulars For the year ended For the year ended 31st March, 2013 31st March, 2012 Rs. In Million Rs. In Million Raw materials, Components and consumables 423.74 423.57 Capital Goods 3.67 149.63 Total 427.41 573.20 NOTE 35 - Contingent Liability: As at As at Particulars 31st March, 2013 31st March, 2012 Rs. In Million Rs. In Million Income Tax matters in dispute in respect of penalty matters pending before ITAT, Pune 32.63 32.63 Service Tax matters underAppeal 3.63 3.63 Co-acceptance of Import bills by the bankers 31.52 41.63 Bill discounted 229.38 274.22 Bank Guarantees by the Company 4.30 33.67 Claims against the company not acknowledged as debts 0.16 0.16 Total 301.62 385.94 ..33..
Page 3 and 4: BOARD OF DIRECTORS Chairman & Manag
Page 5 and 6: Notes: 1) A MEMBER ENTITLED TO ATTE
Page 7 and 8: Item No. 9: Mrs. Eitika Munot was a
Page 9 and 10: Directors’Report To the Members,
Page 11 and 12: Conservation of Energy, Research An
Page 13 and 14: Annexure III to the Directors' Repo
Page 15 and 16: 5. Shareholders’Grievance Committ
Page 17 and 18: 13.13 Outstanding GDR, ADR or Warra
Page 19 and 20: (c) The Company has maintained prop
Page 21 and 22: Statement of Profit and Loss for th
Page 23 and 24: NOTES FORMING PART OF FINANCIAL STA
Page 25 and 26: Notes forming part of the Financial
Page 33: Notes forming part of the Financial
Page 39: ZF STEERING GEAR (INDIA) LTD. REGD.

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