Annual Report FY 2010-11 - Pipavav Shipyard

Pipavav Defence and Offshore
Engineering Company Limited
Schedules forming part of the Balance Sheet
Particulars
Schedule - 11
LOANS AND ADVANCES
(Unsecured & considered good)
As at March 31, 2011
Rs in Lacs
As at March 31, 2010
To Subsidiary company * 3,790.23 3,869.40
Advance recoverable in cash or in kind or
for the value to be received **
31,975.98 15,243.36
Deposits # 9,448.83 8,453.26
Advance Taxes (including Fringe Benefit Tax) (Net) 1,970.01 2,150.81
MAT credit entitlement
(Refer Note No. 22 of Schedule 22)
1,127.65 -
Total
* Maximum Balance at any time during the year Rs.4,011.24
lacs (Previous Year: Rs. 10,669.93 lacs).
** Subject to Confirmation.
# includes Rs.7,030 lacs (Previous Year: Rs. 7,030 lacs) with
Subsidiary company.
Schedule - 12
CURRENT LIABILITIES AND PROVISIONS
CURRENT LIABILITIES
48,312.70 29,716.83
Acceptances
Sundry Creditors
736.10 193.08
- Dues to Micro Small and Medium Enterprises * 458.66 61.54
- Dues to Others 18,971.20 15,576.13
Advance from Customers 41,797.96 58,012.31
Unclaimed Share Application Money ** 6.01 18.36
Other Liabilities 1,735.74 1,345.91
Interest Accrued but not due on Loans 2,616.72 691.04
Total
PROVISIONS
66,322.39 75,898.37
For Income Tax 1,161.40 -
For Wealth Tax 2.45 2.50
For Gratuity / Leave Encashment 219.63 163.72
Other Provisions # 8,733.91 14,694.16
Total 10,117.39 14,860.38
Total
* Refer Note No 13 of Schedule 22
76,439.78 90,758.75
** Does not include any amount due and outstanding to be credited to Investor Education & Protection Fund.
# The company has recognised liabilities based on substantial degree of estimation for provision for estimated cost over
contract revenue on shipbuilding contracts and costs estimated for revenue recognised. The provision for estimated cost
over contract revenue on Shipbuilding contracts and costs estimated for revenue recognised as at March 31, 2010 was of
Rs 3,293.38 Lacs and Rs.11,400.78 Lacs respectively, against which Rs. 3,293.38 lacs and Rs. 11,400.78 lacs respectively
have been incurred during the year. Additional provision recognised under this clause is Rs. 361.59 lacs and Rs. 8,372.32 lacs
respectively during the year. Liability outstanding under this clause as at March 31, 2011 is Rs. 361.59 lacs and Rs. 8,372.32
������������
lacs respectively. Actual outflow is expected in the subsequent financial years.
60