Annual Report for 2012-13 - Mangalore Refinery and ...

Annual Report 2012-13
31.06.03 Related Party details:
Particulars
ONGC
Mangalore
Petrochemicals
Limited
Shell
MRPL
Aviation
Fuels &
Services
Limited
Relationship Associate Joint
Venture
Mangalam
Retail
Services
Limited
Joint
Venture
Mangalore
SEZ
Limited
Associate
(` in Million)
Petronet
MHB
Limited
Associate
Sale of Products Nil 4,022.24 Nil Nil Nil
(Nil) (4647.31) (Nil) (Nil) (Nil)
Transportation
Nil Nil Nil Nil -39.72
charges payable
(Nil) (Nil) (Nil) (Nil) (-37.96)
Reimbursement
1.01 Nil Nil 1.33 Nil
of expenditure by
MRPL
(Nil) (Nil) (Nil) (-2.38) (Nil)
Salary and other
6.74 0.29 Nil 3.53 24.54
establishment
related expenses
incurred by MRPL
reimbursable by JV/
Associate.
(18.40) (0.78) (Nil) (3.82) (24.08)
Advance against
599.99 Nil 0.05 Nil Nil
Equity investment in
JV / Associates
(599.99) (Nil) (1.00) (Nil) (Nil)
Amount receivable/
12.45 406.91 Nil 133.55 Nil
adjustable as on
31st March 2013.
(25.06) (408.47) (Nil) (131.54) (Nil)
Amount payable/
Nil Nil Nil Nil 1.83
adjustable as on
31st March, 2013.
(Nil) (Nil) (Nil) (Nil) (8.55)
Note : Figures in brackets represent previous year fi gure.
31.07 Leases (AS-19)
31.07.01 The company has taken various premises under cancellable operating
lease.
31.07.02 These lease agreements are normally renewed on expiry of the term.
31.07.03 Lease rental expenses for the year ended 31st March, 2013 in respect of
above operating leases are ` 35.06 Million (pre. year ` 34.75 Million)
31.08 Exceptional Items
31.08.01 Pursuant to the order of Tariff Authority for Major Ports (TAMP ) no
TAMP/22/2012-NMPT dated 1st April 2013 notifi ed in Gazette of India
datad 12th April 2013 fi xing the wharfage rates for the years 2002-03 to
2008-09, the Company has recognised ` 444.54 Million as receivable from
NMPT and the same is considered as income under Exceptional items.
(Refer Note No. 29 )
31.09 Deferred Tax
31.09.01 The company has not recognized deferred tax assets amounting to
` 5,792.10 Million in the absence of virtual certainty (Refer Note No. 5)
31.10 Financial Reporting of Interests in Joint Ventures (AS-27)
(` in Million)
Particulars
Proportion of the
ownership interest
Shell MRPL Aviation
Fuel Services Limited
Mangalam Retail Services
Limited
50% 45%
Country of incorporation India India
Aggregate amount of
interest in Joint Venture
(MRPL’s share)
2012-13
(Audited)
2011-12
(Audited)
2012- 13
(Un Audited)
2011-12
(UnAudited)
Assets 1473.89 864.98 0.60 0.91
Liabilities 1,188.61 612.15 0.25 0.01
Income 2478.54 2635.55 0.21 Nil
Expenditure including
Tax Expenses
2,432.04 2,570.33 0.02 Nil
Contingent Liabilities Nil Nil Nil Nil
Capital Commitments Nil Nil Nil Nil
31.11 Provisions, Contingent Liabilities and Contingent Assets ( AS -29)
31.11.01 Movement in Provisions
(` in Million)
Year 2012-13 2011-12
Particulars Debtors Others Debtors Others
Opening Balance 629.95 96.55 660.65 98.25
Add : Provision made 84.48 7.52 - 1.68
during the year
Less: Provision written
back/reclassifi ed/
reduction during year
- 0.95 30.70 3.38
Closing Balance 714.43 103.12 629.95 96.55
31.12 Provisions, Contingent Liabilities and Contingent Assets ( AS -29)
31.12.01 Employee Benefits (` in Million)
Year 2012-13 2011-12
Particulars Leave Other
benefits
Leave
Other
benefits
Opening Balance 290.19 76.11 243.81 41.68
Add : Provision made 155.72 25.71 76.44 35.63
during the year
Less: Provision written
back/reclassifi ed/
reduction during year
53.59 5.73 30.06 1.20
Closing Balance 392.32 96.09 290.19 76.11
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