INDIAN RAYON AND INDUSTRIES LIMITED - Aditya Birla Nuvo, Ltd

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123 52SCHEDULE ‘17’SELLING AND OTHERSELLING EXPENSES:Commission to SellingCash DiscountBrokerageExport ExpensesAdvertisementTransportation &Other Selling ExpensesAUDITORS’ REMUNERATIONOTHERS:Repairs & MaintenanceBuildingsPlant & MachineryOthersRentRates & TaxesInsurance (Net)DonationsDirectors’ Fees &Research & DevelopmentLoss on sale of FixedMiscellaneous ExpensesSCHEDULE ‘18’INTEREST ANDInterestOn Debentures andOthersFinance ExpensesInterest paid/payable2000-01in Crores152.9468.31224.3044.3924.116.1974.69Nil1999-2000Rs. in Crores22.771.472.017.736.9218.4312.9772.303.6615.861.704.230.694.600.020.040.431.1629.8662.25137.9747.9320.625.7874.33(9,294)EXPENSES Rs. in Crores Rs.Agents 43.614.412.9611.3538.41Handling Charges (Net)(Net)28.0424.16of:4.8915.061.573.530.823.700.59Travelling ExpensesExpenses0.050.60Assets (Net) 0.7136.79OTHER FINANCE EXPENSESFixed Loansto ManagerPayments to Statutory Auditors:Audit Fees 0.07 0.07For Taxation MattersFor Tax Audit0.010.030.020.05For Certification Work 0.01 0.01Reimbursement of Expenses 0.03 0.02Payments to Branch Auditors:Audit FeesFor Certification Work0.060.020.050.02Reimbursement of Expenses 0.01 0.01Payments to Cost Auditors:Audit FeesReimbursement of Expenses0.01(21750)0.01(41415)0.25 0.26BAD DEBTS & PROVISIONS FOR DOUBTFUL DEBTS & ADVANCES 2.80 3.16Schedules
SchedulesSCHEDULE ‘19’SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTSA. SIGNIFICANT ACCOUNTING POLICIES• ACCOUNTING CONVENTIONThe financial statements are prepared under the historical cost convention (except for certain fixed assets which have been revalued), onan accrual basis and in accordance with the applicable accounting standards.• FIXED ASSETSFixed assets are stated at cost adjusted by revaluation in case of certain land and buildings• DEPRECIATION/AMORTISATIONDepreciation on Fixed Assets (including revalued assets) is provided on Straight Line Method at the rates and in the manner specified inSchedule XIV to the Companies Act, 1956. “Continuous process plants” have been classified on technical assessment and depreciationprovided accordingly.Depreciation on the Fixed Assets added/disposed off/discarded during the year has been provided on pro-rata basis with reference tothe month of addition/disposal/discarding.Depreciation on the amounts capitalised on account of foreign exchange fluctuation is provided prospectively over residual life of theassets.Intangible and certain other assets are amortised as under :Goodwill - Not amortisedTrademarks/Brands - 15 yearsCapital Expenditure on assets not owned - 5 yearsLeasehold Land - Over the period of the lease• BORROWING COSTBorrowing Costs attributable to acquisition and construction of assets are capitalised as a part of the cost of such asset upto the datewhen such asset is ready for its intended use. Other borrowing costs are charged to Profit & Loss Account.• TRANSLATION OF FOREIGN CURRENCY ITEMS• Transactions in foreign currency are recorded at the rate of exchange in force at the date of transactions. Foreign currency assets (exceptinvestments) and liabilities other than for financing fixed assets are stated at the rate of exchange prevailing at the year end andresultant gains/losses are recognised in the profit and loss accout. Premium in respect of forward foreign exchange contracts isrecognised over the life of the contracts. Foreign currency loans for financing fixed assets are stated at the contracted/ prevailing rate ofexchange at the year end and the resultant gains/losses are adjusted to the cost of assets• INVESTMENTSLong Term Investments are stated at cost after deducting provision, if any, made for permanent diminution in its values. CurrentInvestments are stated at lower of cost and market/fair value.• INVENTORIESInventories are valued at the lower of the cost and estimated net realisable value. Cost of inventories is computed on a weightedaverage/FIFO basis. Finished goods and work-in-progress include costs of conversion and other costs incurred in bringing the inventoriesto their present location and condition. Proceeds in respect of sale of raw materials/stores are credited to the respective heads.53
Page 1 and 2: BOARD OF DIRECTORSShri Kumar Mangal
Page 3 and 4: Simultaneously, we will concentrate
Page 5 and 6: Mavoor, which were rendered unviabl
Page 7 and 8: SEGMENTAL ANALYSIS AND REVIEWThe ne
Page 9 and 10: On the upside is the structural cha
Page 11 and 12: Benefiting from the shifting focus
Page 13 and 14: • Volume Enhancement: Efforts on
Page 15 and 16: Outlook for Indian Rayon’s Insula
Page 17 and 18: Net ProfitNet Profit has gone up fr
Page 19 and 20: Birla Sunlife Insurance Company Ltd
Page 21 and 22: 1 Independent director means direct
Page 23 and 24: 5. The Board meetings should be hel
Page 25 and 26: 13. The Company should provide a br
Page 27 and 28: Social ReportBeyond Business - Reac
Page 29 and 30: Environment ReportENVIRONMENTAL PRO
Page 31 and 32: Directors’ Report to the Sharehol
Page 33 and 34: Forays Into New Business Segments a
Page 35 and 36: AWARDS AND RECOGNITIONDuring the ye
Page 37 and 38: ii)iii)Insulator Division• Instal
Page 39 and 40: ANNEXUREForm-AForm for disclosure o
Page 41 and 42: xv)xvi)xvii)xviii)xix)xx)xxi)xxii)T
Page 43 and 44: Profit & Loss Account for the year
Page 45 and 46: SCHEDULE ‘3’ As at 31st As at 3
Page 47 and 48: SchedulesSCHEDULE ‘6’ (Contd.)I
Page 49 and 50: SCHEDULE ‘8’ As at 31st As at 3
Page 51: SCHEDULE ‘13’ 2000-01 1999-2000
Page 55 and 56: SchedulesSCHEDULE ‘19’SIGNIFICA
Page 57 and 58: SchedulesANNEXURE IINFORMATION PURS
Page 59 and 60: BALANCE SHEET ABSTRACT AND COMPANY
Page 61 and 62: STATEMENT PURSUANT TO SECTION 212 O
Page 63 and 64: BALANCE SHEET AT 31 DECEMBER 2000IN
Page 65 and 66: BIRLA SUN LIFE INSURANCE COMPANY LI
Page 67 and 68: REVENUE ACCOUNTFor the period 4th A
Page 69 and 70: SCHEDULE-4BENEFITS PAID (NET)(Amoun
Page 71 and 72: SCHEDULE-10FIXED ASSETS(Amount in R
Page 73 and 74: Tax ProvisionThe tax provision as o
Page 75 and 76: MANAGEMENT REPORTIn accordance with
Page 77 and 78: BALANCE SHEETAs at 31st March, 2001
Page 79 and 80: STATEMENT PURSUANT TO SECTION 212 O
Page 81 and 82: BALANCE SHEETAs at 31st March, 2001
Page 83 and 84: Shareholder Information1. Annual Ge
Page 85 and 86: Relative Performance: Indian Rayon
Page 87 and 88: 15. Categories of Shareholding as o

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