Annual Report FY 2010-11 - Pipavav Shipyard

Recommendations

Info

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
Annual Report 2010-11 Schedules forming part of the Profit and Loss Account Particulars For the year ended Rs in Lacs For the year ended Schedule - 13 INCOME FROM OPERATIONS March 31, 2011 March 31, 2010 Shipbuilding and Ship Repairs 51,942.69 44,529.58 Subsidy on Shipbuilding * 7,494.13 8,814.91 Trade Sales *(Refer note no. 8 of Schedule 22) 26,556.26 9,593.77 Total Schedule - 14 OTHER INCOME 85,993.08 62,938.26 Interest Income {Tax Deducted at Source Rs. 397.95 lacs (Previous Year: Rs. 455.27 lacs)} 3,676.33 3,779.78 Project consultancy 300.00 - Profit on Sale of Current Investments (Net) 326.71 392.80 Dividend on Current Investments 337.88 8.31 Foreign Exchange difference (Net) 1,227.30 2,531.62 Liability No Longer Required (Written Back) 413.72 - Miscellaneous Income 54.57 38.15 Total Schedule - 15 INCREASE AND (DECREASE) IN INVENTORIES Closing Balance 6,336.51 6,750.66 Scrap 546.08 221.98 Work in progress - 2,559.16 Less :- Opening Balance 546.08 2,781.14 Scrap 221.98 18.61 Work in progress 2,559.16 14,056.83 2,781.14 14,075.44 Increase / (Decrease) in Inventories Schedule - 16 RAW MATERIALS CONSUMED (2,235.06) (11,294.30) Opening Stock of Raw Materials 10,123.40 17,753.86 Add :- Purchases 41,647.37 9,301.45 Less :- Closing Stock of Raw Materials 23,487.57 10,123.40 Total Schedule - 17 MANUFACTURING EXPENSES 28,283.20 16,931.91 Stores, Spares and Consumables 2,073.93 1,166.29 Site Rent 272.72 212.22 Power Fuel and Water 1,496.37 894.64 Labour Charges 4,401.63 1,545.96 Design and Drawing Fees 539.48 76.99 Insurance 184.53 19.05 Repairs and Maintenance - Plant and Machinery 739.95 180.00 Equipment Hire Charges 587.02 285.28 Infrastructure Facility Charges 940.00 470.00 Other Manufacturing Expenses 908.21 94.98 Cost Estimated for Revenue Recognised (3,028.47) 11,400.78 �� (Refer note no. 19 of Schedule 22) Total 9,115.37 16,346.19 61
Page 1 and 2:
PIPAVAV DEFENCE AND OFFSHORE ENGINE
Page 5 and 6:
SKIL Infrastructure Limited, the pr
Page 7 and 8:
State-of-the-art Infrastructure Ahe
Page 9 and 10:
lowered in the dry dock with the he
Page 11 and 12: “ I am truly impressed by the com
Page 14 and 15: Pipavav Defence and Offshore at a g
Page 16 and 17: 14 “ We believe that we are now a
Page 18 and 19: 16 During the year, your Company ac
Page 20 and 21: 18 Financial snapshot Profit before
Page 22 and 23: 20 Board of Directors Mr. Nikhil P.
Page 24 and 25: Board of Directors Mr. Nikhil Gandh
Page 26 and 27: Pipavav Defence and Offshore Engine
Page 82 and 83: I. Registration Details Place :- Mu
Page 86 and 87: Particulars Pipavav Defence and Off
Page 105 and 106: SAFE HARBOUR In this Report, we hav
show all

Annual Report FY 2010-11 - Pipavav Shipyard

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?