Annual Report FY 2010-11 - Pipavav Shipyard

Pipavav Defence and Offshore
Engineering Company Limited
Schedules forming part of the Consolidated Balance Sheet
Particulars
For the year ended
March 31, 2011
Rs in Lacs
For the year ended
March 31, 2010
Schedule - 11
CURRENT LIABILITIES AND PROVISIONS
CURRENT LIABILITIES
Acceptances
Sundry Creditors
736.10 193.08
- Dues to Micro Small and Medium Enterprises * 458.66 61.54
- Dues to Others 20,186.57 16,723.68
Advance from Customers 41,797.96 58,012.31
Unclaimed Share Application Money ** 6.01 18.36
Other Liabilities 2,261.54 1,870.89
Interest Accrued but not due on Loans 2,616.72 691.04
Total 68,063.56 77,570.90
Provisions
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 15 of Schedule 21
78,180.95 92,431.28
** 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 these clause as at March 31, 2011 is Rs. 361.59 lacs and Rs. 8,372.32
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