videocon industries limited - Domain-b

As at
30th Sept.,
2008
(Rupees in
Million)
As at
30th Sept.,
2007
(Rupees in
Million)
SCHEDULE 1 : SHARE CAPITAL
Authorised :
500,000,000 (Previous year 500,000,000) Equity Shares 5,000.00 5,000.00
of Rs. 10/- each
10,000,000(Previous year 10,000,000) Redeemable
Preference Shares of Rs. 100/- each. 1,000.00 1,000.00
6,000.00 6,000.00
Issued, Subscribed and Paid-up:
Equity Shares:
229,450,764 (Previous year 221,093,701) Equity Shares 2,294.51 2,210.94
of Rs. 10/- each fully paid up.
Of the above:
a) 95,078 (Previous year 95,078) Equity Shares of
Rs.10/- each have been issued on conversion of
20% Unsecured Optionally Convertible Debentures.
b) 156,438,326 (Previous year 156,438,326) Equity
Shares of Rs.10/- each were allotted pursuant to
amalgamations without payments being received
in cash.
c) 45,777,345 (Previous year 45,777,345) Equity
.
Shares of Rs.10/- each were issued by way of Euro
issues represented by Global Depository Receipts
(GDR) at a price of US$ 10.00 per share (inclusive
of premium)
d) 8,464,515 ( Previous year 107,452) Equity Shares
of Rs.10/- each have been issued on conversion of
86,529 Foreign Currency Convertible Bonds of US$
1000 each (inclusive of premium )
Less : Calls in Arrears - by others 1.49 1.49
(A) 2,293.02 2,209.45
Preference Shares
a) 4,523,990 (Previous year 4,523,990) 8% 452.40 452.40
Redeemable Preference Shares of Rs.100/-
each fully paid up, redeemable at par in 3 equal
installments on 1st October 2011, 1st October 2012
and 1st October 2013.
b) 76,870 (Previous year 76,870) 8% Redeemable
7.69 7.69
Preference Shares of Rs.100/- each fully paid up,
redeemable at par in 3 equal installments on 1st
February 2012, 1st February 2013 and 1st February
2014.
(B) 460.09 460.09
Total (A+B) 2,753.11 2,669.54
SCHEDULE 2 : RESERVES & SURPLUS
Revaluation Reserve
As per last Balance Sheet 535.15 9,245.73
Less : Deduction on account of Disposal / Sale of
- 0.98
Revalued Assets
Less : Transferred to General Reserve - 7,538.89
Less : Transferred to Profit & Loss Account 535.15 1,170.71
(A) - 535.15
Capital Redemption Reserve
As per last Balance Sheet 537.50 537.50
(B) 537.50 537.50
Capital Subsidy
As per last Balance Sheet 5.50 5.50
(C) 5.50 5.50
Securities Premium Account
As per last Balance Sheet 25,523.96 25,565.06
Add: Addition on conversion of FCCBs 3,770.85 47.66
Less : Premium Payable on Redemption of Convertible
206.50 88.76
Bonds
29,088.31 25,523.96
Less : Call and / or allotment money in arrears - by others 16.90 16.90
(D) 29,071.41 25,507.06
SCHEDULES TO BALANCE SHEET
21
As at
30th Sept.,
2008
(Rupees in
Million)
As at
30th Sept.,
2007
(Rupees in
Million)
Debenture/ Bonds Redemption Reserve
As per last Balance Sheet 1,812.50 2,343.05
Add / (Less) : Transferred from / (to) Profit & Loss Account 135.00 (530.55)
(E) 1,947.50 1,812.50
Capital Reserve
As per last Balance Sheet 1.53 1.53
(F) 1.53 1.53
General Reserve
As per Last Balance Sheet 11,198.61 1,659.72
Add : On account of transitional provisions under
2.87 -
Accountng Standard 15
Add : Transferred from Revaluation Reserve - 7,538.89
Add : Transferred from Profit & Loss Account 2,000.00 2,000.00
(G) 13,201.48 11,198.61
Profit & Loss Account
As per Account annexed 20,619.94 14,516.42
(H) 20,619.94 14,516.42
TOTAL (A to H) 65,384.86 54,114.27
SCHEDULE 3 : SECURED LOANS
A. Non-Convertible Debentures 1,248.28 2,356.24
B. Term Loans
i. Rupee Loans from Banks & Financial
Institutions
36,021.98 24,117.33
ii. FCNR-B Loan from Banks 389.63 374.92
C. External Commercial Borrowings 4,448.08 3,803.80
D. Corporate Loan from Banks 1.97 82.23
E. Vehicle Loans from Banks 20.85 12.24
F Working Capital Loans From Banks 1,881.75 2,688.25
TOTA L 44,012.54 33,435.01
Notes :
A. Non Convertible Debentures:-
Out of the Non Convertible Debentures, those to the extent of :
i. Rs. 404.45 million (Previous year Rs.613.73 million) are secured by assignment of / fixed
and floating charge on all moneys received/to be received by the Company in relation to
and from the Ravva Joint Venture, including all receivables of the Company, subject to the
charge in favour of the Joint Ventures in terms of the Production Sharing Contract/Joint
Operating Agreement in respect of Ravva Joint Venture, to the extent necessary.
ii. Rs.302.33 million (Previous year Rs.640.81 million) are secured by first charge on
immovable and movable properties, both present and future, subject to prior charge on
specified movables created/to be created in favour of Company’s Bankers for securing
borrowings for working capital requirements, and ranking pari passu with the charge
created/to be created in favour of Financial Institutions/Banks in respect of their existing
and future financial assistance. These debentures are also guaranteed by Mr. V. N. Dhoot
and Mr. P. N. Dhoot.
iii. Rs.61.50 million (Previous year Rs.211.70 million) are secured by way of a first charge
on the entire immovable and movable properties of the Company ranking pari passu with
existing charge holders except prior charge on specified movables created in favour of
Company’s bankers for borrowings of working capital and exclusive charge created on
specific machinery financed/to be financed by the banker/s and/or financial institution/s and
the personal guarantee of Mr. V.N.Dhoot.
iv. Rs.480.00 million (Previous year Rs.890.00 million) are secured by unconditional and
irrevocable guarantee given by IDBI (for principle and interest). The said guarantee
assistance, provided by IDBI, is secured by a first charge in favour of the guarantor,
of all the immovable properties, both present & future, and a first charge by way of
hypothecation of all the movables, present & future, ranking pari-passu with existing
charge holders, subject to charges created / to be created in favour of the Bankers on
the specified current assets for securing borrowings for working capital loans. These
debentures are also guaranteed by Mr. V. N. Dhoot.
The Debenture referred to in (i) to (iv) above are redeemable at par, in one or more
installments on various dates with the earliest redemption being on 1st October, 2008 and
last date being 1st January, 2012. These debentures are redeemable as follows: Rs.732.15
million in financial year 2008-09, Rs.386.56 million in financial year 2009-10, Rs.86.38
million in financial year 2010-11 and Rs.43.19 million in financial year 2011-12.
B. Term Loans : -
The Term Loans are secured by mortgage of existing and future assets of the Company and
a floating charge on all movables assets, present and future (except book debts), subject
to prior charge of the Bankers on stock of raw materials, finished, semi finished goods and