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TRANSCRIPT
A B T LIMITED(GlN: U60231 TZI 931 PLc000006)
Regd. Office: 180, Race Course Road, Coimbatore - 641018E-mail : [email protected]
Notice is hereby given that the 90th Annual General Meeting of the Shareholders of the Companywill be held on Monday, the 30h September 2019 at 9.15 A.M. at the Registered ffice oi tn6Company situated at 180, Race Course Road, Coimbatore - 641018 to transact the followingbusiness.
AGENDAORDINARY BUSINESS
1. To receive, consider and adopt the audited financial statements (including consolidated financialstatements) for the year ended March 31, 2019 and the Report of the Directors and Auditorsthereon.
2. To appoint a Director in the place of Sri M Balasubramaniam, Director who retires by rotation inaccordance with the Articles of Association of the Company and being eligible, offers herself forre-appointment.
3. To appoint a Director in the place of Sri M Srinivaasan, Director who retires by rotation inaccordance with the Articles of Association of the Company and being eligible, offers herself forre-appointment.
4. To declare a dividend on the equity share capital for the financial year 2018-2019.
By Order of the Board
S ElavazhagCoimbatore04.09.2019
Company SecretaryMembership Number: F7 233
Notes
1. A member entitled to attend and vote at the annual general meeting is entitled to appoint a proxyto attend and vote instead of himself and such proxy need not be a member of the company,
2. Prory form should be deposited with the registered office of the company not later than 48 hoursbefore the commencement of the meeting.
3. Pursuant to the provisions of Section 105 of the Companies Act, 2013, a person shall not act as aprory for more than 50 (fifty) members and holding in aggregate not more than 10% (ten percent)of the total share capital of the Company. However, a single person may act as a prory for amember holding more than 10% (ten percent) of the total share capital of the Company providedthat such person shall not act as a proxy for any other person.
4. Attendance Slip and Proxy Form have been attached hereto.
5. All documents referred to in the Notice and Statutory Registers are open for inspection at theRegistered Office during working of the Company upto to the date of Annual GeneralMeeting.
Registered Office :
CIN :
Email :
A B T LIMITED
'180, Race Course Road, Coimbatore - 641018.u 6023LTZL9 3 1 P 1C0000 [email protected]
Dear Members,Your Directors have pleasure in presenting the6fth Board's Report of your company togetherwith the Audited Financial Statements and Auditor's Report of your company for the financialyear ended March 3L,2OL9.
t. FinancialHighlights(Rs. in Lakhs)
ParticularsYear Ended
31.03.2019Year Ended
31.03.2018
Total lncome
Profit before Depreciation andTax
Profitbefore tax
Less:TaxExpense
Profitaftertax
Retained Earnines:
Balance at the beginning ofthe year
Profit after tax forthe year
Payment of dividend onequityshares
Payment of corporatedividendtax
Transfer to DebentureRedemptionReserve
Transfer to GeneralReserve
97,121.L6
3,445.t3
2,049.7L
(8ss.38)
1.,194.33
9.66
1,194.33
(36.66)
17.7Ll
(53e.s3)
(soo.oo)
94,983.81
4,075.L7,
2,709.70
(s47.3e)
L,762.3L
227.32
1.,762.31.
37.50
7.63
(434.841
(1,500.00)
Balance at the end oftheyear 19.69 9.66
2. State of Company's Affairs and Future OutlookYour Company reported a higher turnover of Rs. 97,LIL.LO Lakhs during the year underreview as against Rs. 94,944.21 Lakhs in the previous year. Your Company earned anEBIDTA of Rs. 7,046.86 Lakhs (Previous year Rs. 7,352.36 Lakhs). Considering the trend ofthe business operations, your directors hope to present better results for the current year.
3. Performance of the Divisionsa) ParcelserviceDivision
The operating results of this division is not as expected, due to heavycompetition fromthe unorganized sector. Also, the operational costs were increased due to variation inthe cost of fuel on daily basis and other operating costs. Your Directors are cptimistic ofa better working results in the current year.
b) Maruti Dealerchip and Service DivisionsThe performance of this division is satisfactory. Your Directors expect better working results inthe current year.
c) Other DivisionsThe performances of Exppress, Windmill, ABT lnfo, Pump, Tanker & Passenger divisions aresatisfactory during the year under review.
4. Change in the Nature of BusinessThere is no change in the nature of the business of the company.
5. Transfer to Reserues
During the year under review, your board has transferred an amount of Rs. 500 Lakhs to reserves
and surplus account.
6. DividendYour directors are pleased to recommend a dividend at Rs.25/- per equity share for the year ended
March 3L, 2OL9. The proposed dividend, subject toapproval of Shareholders in the ensuing
AnnualGeneral Meeting of the Company, would result inappropriation of Rs. 45.21 Lakhs (including
Corporate Dividend Tax of Rs. 7.71 Lakhs).
7, Transfer of unclaimed dividend to lnvestor Education and Protection Fund (IEPF)
During the year under review, there was an unclaimed dividend amount of Rs. 13,900/- ofSri Balasundaram Chettiar which was transferred to the lnvestor Education and Protection Fund
under Section 125 of the Companies Act, 2013.
8. Disclosure under Companies (Share Capital and Debentures) Rules, 2014During the year under review, your company has not issued any securities with differential voting
rights/ Employee Stock Option Scheme/ Sweat Equity shares. Hence no disclosures are made underthe rule referred above.
9. Share CapitalDuring the year, the Company's Share capital remain unchanged.Components of share capital of thecom the r:
S.No. Particularc No. of Shares Share Capital(Rs. in takhs)
1 Authorised Share CapitalEquity shares of Rs. 100 eachPreference shares of Rs. 100 each
Subscribed and Paid up Share CapitalEquity shares of Rs. 100 each
Preference shares of Rs. L00 each
a)
b)
a)
b)
2
2,00,0001,00,000
1,50,000
200.00100.00
150.00
10. Holding/Subsidiary/Associate Compa ny and/or Joi nt Ventu reAs at March 31, 2019, the Company does not have any Holding, associate company and JointVenture as per the Rule 6 of the Companies (Accounts) Rules, 2014.
As at March 3t,2Ot9, the Company has one subsidiary in terms of the Companies Act,2013. The
salient features of thefinancial statement of subsidiary and its contribution to the overall
performance of thecompany during the period under review have been provided in Form AOC-1and Notes to Accounts respectively bothforming part of this Annual Report.
a) Companies which became subsidiaries during the financiat year under review:
S.No. Name of the
1 A B T Two Wheeler Private Lirnited lndia
b) Consolidated Financial Statements:The consolidated financial statements as required in terms of Section 129(3) of the CompaniesAct, 2013 and the Listing Regulations have been provided along with standalone financialstatements. Further a statement containing salient features of the financia! statements of thesubsidiary in Form AOc-l as required to be given in terms of first proviso to Section 129(3) ofthe Companies Act, 2013 has been provided in a separate section which forms part of thisAnnual Report. The financial statements including the consolidated financial statements,financial statements of the subsidiary and alt other documents have been uploaded on theCompany's website (www.a btlim ited.com).
11. DepositsThe Company has not accepted any deposits within the meaning of Section 73 of the CompaniesAct, 2013 and the Companies (Acceptance of Deposits) Rules, 2014 during the financial year endedMarch 3L,2OL9. The outstanding deposits of Rs. 13.80 Lakhs as at March 3L,ZO:rg, are depositsaccepted before April01,2014 and remaining unclaimed.
12. Particulars of loans, guarantees or investments under section 1gEDetails of Loans, Guarantees and lnvestments covered under the provisions of Section 1g6 of thecompanies Act,2013, are given in the notes to the Financial statements.
13. Board of Directorsa) Sri M Balasubramaniam (DlN: 00377053) and Sri M Srinivaasan (DtN: 00102387)- Directors are
liable to retire by rotation at the ensuing Annual General Meeting pursuant to the provisions ofSection 152 of the Companies Act, 7-013 read with the Companies (Appointment andQualification of Directors) Rules, 2OL4 and being eligible have offered themselves for re-appointment.
b) At present the following directors constitutes the board:S.No. Name of the Director qry Designation
1
2
3
4
5
6
SriM Manickam
Sri M Balasubramaniam
SriM Srinivaasan
Sri M HariharaSudhan
MsRad haAkila ndeshwa ri
SriM Chenniappan
7 Sri K Prakash
Non-Executive Director
Non-Executive Director
Non-Executive Director
Executive Director
Whole Time Director
Non-Executive Director(lndependent Director
Non-Executive Director(lndependent Director
00102233
00377053
00102387
02459814
07L24L39
oo277823
01019383
Country
14. Meetings of the Board of DirectorsDuring the Financial Year 2018-t9, 12 (Twelve) meetings of the Board of Directors of the Companywere held (09.04.2018, 09.05.2018, 08.06.2018, 09.07.2018, Og.Og.2O18, 03.09.2018,07.09.2018, 28.09.2018, 3L.L2.2O18, L2.O2.2O79, 11.03.2019 & 28.03.2019 and the details ofdirectors' attendance are given below:
S.No. Name of Director No. of Meetingsheld
No. of Meetingsaftended
1
2
3
4
5
b
7
8
SriM Manickam
Sri M Balasubramaniam
SriM Srinivaasan
SriM Harihara Sudhan
Ms Radha Akilandeshwari
SriM Chenniappan
Sri K Prakash
SriS Murugaiyan (Deceased on 14.00.201A)
12
12
12
12
12
12
12
12
I6
2
I5
12
o
2
15. Stakeholders Relationship Committee
The Stakeholders Relationship Committee has been constituted by the Board pursuant to Section178 of the Companies Act 2013. This committee consists of the following Directors.
Sri M Chenniappan - Chairman
SriM HariharaSudhan
16. Debenture Transfer CommitteeThe Committee has been constituted by the Board and the committee consists of the followingDirectors.
SriM HariharaSudhan
Ms M Radha Akilandeshwari
SriM Chenniappan
The Debenture Transfer committee met 4 tinres during the year on 0g.05.20Lg,7g.07.2otg,25'08'2018 & 17'09'2018 and all the members of the committee were present at the meeting.
17. Audit Committee
The Audit committee consists of the following Directors as its members:
Sri M HariharaSudhan (Chairman)Sri. M ChenniappanSri. K. Prakash
The Commlttee met 3 times dudng the financial year on 03.09,2018, 10.12,2018 & 12.02.2019 andthe attendance of the members are glven belowi
S.No, Namc ofdl€ MGmb€t Dt]{ o. of M€€tlrEheld
o. ol Mectlng!aatend€d
1
2
Sri M HariharasudhanSrl M ChenniappanSri l( Prakash
02459814@27742301019383
333
333
18. YrSll Medr.nlnnln compliance with the p.ovigior$ of S€ction 177(9) the Boa.d of Direclors of the Company
hasframed the "\ rhisde Elower Pofiqf as the vigll medianism for Olrecto(s and employees ofthecompany. The details of the whistle blows policy are posted on the w€bsite of the Company.
No compllant has been receh/€d underthis mechanism duringthe year underreview.
19. Rlsl Managemem Pollqourin8 theyea. under,eview, yolr Company ha5 develop€d end implemented a Risk ManaSement
Pollcy, Ior ident'fyir[ and mana8ing risk. Risk mitigation procEs and measures have b€en
formulated and detalled h the 5ald policy. At present the Company has not ldentified any element
of risk whldl may threaten the existenae of the Company.
20. lntehal hnanclal Cootnols and lntamal Control SFtemThe Eoard ls ot the opinion that there exist adequate Internal controls commensurate u/lth the sire
and op€r.tlons of the Company.
During the year under review, your cornpany has lald down internal financial controls and such
internal flnanclal controls are adequate with reference to the financlal statements and were
operatlnS effectively.
The Company has adequate system of intemal control to safeSuard and protect from loss,
unautho.ized use o. dispoEitlon of its assets. All the thnsactions arc p,opedy authorized, recorded
and reported to the Management. The Comp.ny ls following all the applicable Accountlng
Standards lor properly malntalnlng the books o, accounts and reportlng rlnancial statements.
21, fraud R.pordnSOurin8 the year under revlew no lnstances of fraud were reported by the Statutory Auditors of the
Company.
22. Dedaratlon by lndep€ndcm Dliacto6Pu6uant to the p.ovislons of sub-sectlon (7) of Seclion 149 of the Companies Act, 2013, the
Company has received lndlvldual declarations from all the lndependent Directors confirmlnt thatthey fulfill the criteria of lndependence as specified in Section 149(6) of the Companies Acl, 2013,
23. Boa.d EvaluadonThe provlslons of the Companles Act, 2013 regarding the performance evaluation o, the Board is
not appllcable to your Compeny.
24. Company's poliry on directors' appointment and remuneration including criteria for determiningqualifications, positive attributes, independence of a director and other matters provided undersub-section (3! of section 178
The Nomination and Remuneration Committee comprises the following Directors as its members
a) Sri M Chenniappan (Chairman)
b) Sri M Manickam and
c) Sri. K. Prakash (from 03.09.2018)
Sri M Chenniappan, lndependent Non-Executive Director is the Chairman of the Committee.
The Nomination and Remuneration Committee met 1 time during the year on 03.09.2018 and all
the members of the committee were present at the meeting.
The said committee has been empowered and authorised to exercise the power as entrusted under
the provisions of Section 178 of the Companies Act, 2013. The Company has a policy on directors'
appointment and remuneration including criteria for determining qualification, positive attributes,
independence of a director and other matters provided under sub-section (3) of section 178. The
Nomination and Remuneration Policy is herewith annexed to the Board's Report as Annexure - C.
25. Key Manageriat PersonnelDuring the year under review, the provisions of Section 203 of the Companies Act, 2013 relating toappointment of Key Managerial Personnel does not apply to your Company.
25. Particularc of EmployeesNone of the employee has received remuneration exceeding the limit as stated in rule 5(2) of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
27. Related Party TransactionsAll the related party transactions that were entered into during the financial year in the ordinary
course of business and the prices were at arm's length basis. Hence, the provisions of Section 188 ofthe Companies Act, 2013 are not attracted. There were no materially significant transactions made
by the company with Promoters, Directors, and Key Management Personnel which may have
potential conflict with the interest of the Company at large. Hence, reporting in Form No.AOC-2 is
not applicable.The details of related party transactions are provided in notes on financial
statements.
28. Material Changes between the date of the Board report and end of financial yearThere have been no material changes and commitments, if any, affecting the financial position ofthe Company which have occurred between the end of the financial year of the Company to which
the financial statements relate and the date of the report i.e., September 04, 2019.
29. Significant and material orders passed by the regulators or courts or tribunals impacting the goingconcern status and company's operations in futureDuring the year under review there has been no such significant and material orders passed by the
regulators or courts or tribunals impacting the going concern status and company's operations in
future.
30. Statutory AuditorsPursuant to Section 139(1) of the Companies Act, 2013 and Rule 6 of the Companies (Audit andAuditors) Rules, the members of the Company have appointed M/s. p K Nagarajan &Co., CharteredAccountants Coimbatore (FRN: 0165765) as Statutory Auditors of the Company for the period offive years from the conclusion of the Annual General Meeting held on 28th September, 2017, untilthe conclusion of the Annual General Meeting to be held for the year 2O22. The requirement toplace the matter relating to ratification of their re-appointment at every Annual General Meeting isdone away with vide notification dated 7th May 2018 by the Ministry of Corporate Affairs, NewDelhi. They have confirmed that they are not disqualified for continuing as Statutory Auditors ofthe Company.
31. Audit ReportThere were no qualifications, reservations, adverse remarks or disclaimers, made by the StatutoryAuditors in their repoG requiring the explanation or comments by the Board as per the provisionsof Section 134(3) (f) of the Companies Act, 2013.
32. Secretarial Auditors and Audit ReportPursuant to the provisions of Section 2o4 of the Companies Act, 2013 read with Rule 9 of theCompanies (Appointment and Remuneration of Managerial Personnel) Rules,2OL4, the Board ofDirectors of the Company has appointed Sri. R Dhanasekaran, Practicing Company Seretary toconduct secretarial audit of the Company for the financiat year ending 31st March 2019.
Secretarial Audit Report for the financial year ended 31st March 2019 is enclosed as Annexure - D.
33. Cost AuditPursuant to the provisions of Section 148 of the Companies Act, 2013 read with Rule 14 of theCompanies (Audit & Auditors) Rules, 2014 Cost Auditor appointment is not applicable to theCompany.
34. Corporate Social Responsibilityln terms of Section 135 and Schedule Vll of the Companies Act, 2013, the Board of Directors of theCompany have constituted a CSR Committee. The Committee comprises of Dr M Manickam, Sri MHariharaSudhan andSri M Chenniappan, Directors as its members.
The Annual Report on CSR activities in accordance with the Companies (Corporate socialResponsibility Policy) Rules, 2OL4, is set out herewith as Annexure - E to this Report.
35. Disclosure under The Sexual Harassment of Women at workptace (prevention, prohibition andRedressal) Act, 2013lnternal Complaints Committee (lCC) has been set up by the Company to redress complaintsreceived in respect of Sexual Harassment. All employees are covered under this policy. TheCompany has not received any sexual harassment complaint at workplace during the financial year2018-79.
35. Conservation of energy and technology absorptionThe information on conservation of energy, technology absorption and foreign exchange earningsand outgo as stipulatedunder clause (m) of subsection (3) of section 134 of the Companies Act,2013 read with rule 8 (3) of The Companies (Accounts) Rules, 2074 are given in Annexure - A.
37. Extract of Annual ReturnAn Extract of Annual Return as on Financial Year Ended on March 3L,2OL9 pursuant to the sub-
section (3) of Section 92 of the Companies Act, 2013, and forming part of thisreport, in Form MGT-
9 is enclosed as Annexure - B.
38. Directors Responsibility StatementPursuant to the requirement under section 134(5) of the Companies Act, 2013 with respect to
Directors' Responsibility Statement, it is hereby confirmed that:
(i) in the preparation of the annual accounts for the financial year ended March 31, 2019, the
applicable accounting standards had been followed along with proper explanation relating to
material departures;
(ii) the directors had selected such accounting policies and applied them consistently and made
judgments and estimates that are reasonable and prudent so as to give a true and fair view ofthe state of affairs of the company as at March 3L, 2OL9 and of the profit and loss of the
company for that period;
(iii) the directors had taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of the Companies Act, 2013 for
safeguarding the assets of the company and for preventing and detecting fraud and other
irregularities;
(iv) the directors had prepared the annual accounts on a going concern basis; and
(v) the directors had devised proper systems to ensure compliance with the provisions of all
applicable laws and that such systems were adequate and operating effectively.
39. AcknowledgementsYour Directors wish to express their Brateful appreciation to the continued co-operation received
from the Banks, Government Authorities, Customers and Shareholders during the year under
review. Your Directors also wish to place on record their deep sense of appreciation for the
committed service of the Executives, staff and Workers of the Company at all level.
For and on behalf ofthe Board
-fA**CoimbatoreSeptember 04,20L9
M ManickamChairman
DIN:00102233
ANNEXURE-A
lnformation under Section 13a(3Xm) of the Companies Act, 2013 read with rule 8(3) theCompanies (Accounts) Rules, 2014 and forming part of the Report of the Directors
A. Conservation of energy:
(i) the steps taken or impact on conservation of energy : Nil(ii) the steps taken by the company for utilising alternate sources of energy : Nil(iii) the capital investment on energy conseruation equipments : Nil
B. TechnologyAbsorption:
the efforts made towards technology absorptionthe benefits derived like product improvement, cost reduction, productdevelopment or import substitutionin case of imported technology (imported during the last three years reckoned fromthe beginning of the financial year)the expenditure incurred on Research and Development
C. Foreign Exchange Earnings and Outgo:
(Rs. in Lakhs)
(i)
(ii)
( iii)
(iv)
Nil
Nil
Nit
Nil
S.No. Particulars 31.03.2019 31.03.2018
(i)
( ii)Earned
Used47.O4
Nit44.80
Nil
For and on behalf ofthe Board
'-fia^CoimbatoreSeptember 04,2OL9
M ManickamChairman
DIN:00102233
AilTEXURE {FORM NO- Nq 9
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Pediculars Secured loB Gxclulin3 defEits UGuaed Loans Oepsits (NCDI Tot.l lnffitednKEt tha ottlcfn.nalal
i) PnncipalAmount
ii) lntere* due but not paid
1,385,432.(D L3S,432.00+ii+frI Jtffi
in lndebtednessduring the financial
Addition
the end ofthe financial year
i) Principal Amount 1,373.09r.98.m 491,t34378.m 659,230,m.00ii) lnteren due but not paid
i:i) lnterest accrued but not dues558,315.m 5.56A316.m
' 'i:|'!r *:&.t*ia r'. izrr'r. t,irl1ii,' ,iiffilfl.
sil. PaticulsB of Rcmuneaatirm Name of MDAArID/ M.n.gH TohlhourrName
M Manic*am M Maai.mm.l M H.riheE Sudh.ndEi'mm Yrce Chdrp€mn Exeutive oiadq Vltolelim. DlMd
Salary es per provisions contain.d an section 17(11 ofthe lnco@tax Aat,
Value
t20@o
Profits in lieu ofslary 17(3) lncomF tax Art, 1961
Stock
Sreat Equity
4 - .s% ofprofitOh€rt plea* sp€cify- Bonus
t62t r 34 1273711 127]/11 6366556.m3% 1% 7*
9966556.m
Tobl lA)
@liB es Er the Act
ir.:t::: . r: t*i(r&&atB .r." lllilrtn
252i1.155.351.m
M< R.db lliH.dcri
1 Grosslary
to dhcrsN.
N.me of [IMo6 Tdal hunt
1lnd.p.nd.nt f,Irdo. lndep.ndent firsa hdeFd.nt Dl|[email protected] €,m-0o &,0m,@ 30,mo,m 1,O,m.m
ComidonGhs, ph& aFGiry
rdl {1)2 Oth6 thErdtiE DittfuE M i .ni(trm M gahsubramani.m M Sdrih6an Mr Rrdha
Fe fror affiding b@rd @mmik metins 40,(m.@ 30,[email protected] 10,ofl).@ 25,000.m
l(xt,m.00
k{ C€}Int.i F th. Act
sN. PailhoLB ofn mun.r.tion Tobl A@nt
1 cr6 sLry uTtwcfo
1384{X) 57M?Ss.hry 6 per [email protected] in ffiioDAGI 1961
Valu. of ,E quiriE ln@Fk A.t, 1951
(c) PrctB in lbu of $Lry unde. frim 17(3, hoG h A.t1961
Sbct Oodon
3 SwEt Equily
4
5
as 96 of proftr
TfrI ff79996 t 04400 57&3S
Sdhn o, atlct D..sl9d6 Adhdn lno / l{orl aouf,rl Appl md., lf .n,ldr o.bltt)Tlr. O.Elk ot P.EltV / Plrildrmanv Co.rFudlirl
tr.lmpc.d
c.
tunishmnthBndh!
[email protected] o, R.munmtim
1m (Upb 09.G.18)
{[)o.q, n-'-f]if.-'n 30,(m.@ 1&mm
==t:ld.l (I {1+2,m.tsld RdDul6tkh
bre of X.y M.n.8e.lal p.lund
Puhi3hlffit
ANNEXURE. C
This Nomination and Rem-uneration Poticy is being formutated in comptiance with Section 17gof the Companies Act,2013 read along with thJappticabte rutes thereto, as amended fromtime to time. This poticy on nominalion and remuneration of Directoir,' f"V r*lanagerialPersonnel and Senior Management has been formutated by the Nomination and RemunerationCommittee and has been approved by the Board of Directois.
Policy Objective
a. To [ay down criteria for identifying persons who are qualified to become Directors and whomay be appointed in Senior Management of the Company in accordance with the criteria taiddown.
b. To tay down criteria for determining quatification, positive attributes and lndependence of aDirector.
c. To tay down criteria, retating to remuneration of directors, key managerial personnet andother employees.
Definitions
"Act" means the Companies Act, 2013 inctuding schedutes annexed thereto and the Rutesframed there under.
"Board of Directors" means the "Board of Directors" of A B T Limited.
"Company" means A B T Limited.
"lndependent Director" means a Director who satisfies the criteria of independence asprescribed under section 149 of the Companies Act, 2013.
"Key Arlanageriat Personne[" (l0\rtp) means
i. Managing Director, or Chief Executive Officer or Manager and in their absence, a Whole-TimeDirector
ii. Company Secretary
iii. Chief Financiat Officer and
iv. Such otherofficeras may be prescribed underthe Companies Act,2013 and the rutes madethereunder.
"Nomination & Remuneration Committee" means "Nomination & Remuneration Committee,,constituted by the Board of Directors of the Company from time to time under the provisions ofthe Companies Act, 2013.
"Other emptoyees" means, att the emptoyees other than the Directors, KMps and the SeniorManagement Personnet.
"Poticy" means the Nomination Remuneration poticy.
"Remuneration" means any money or its equivalent given or passed to any person for servicesrendered by him and includes perquisites as defined under the lncome-tax ict, 1961.
"Senior Management Personnet" means, the personnet of the Company who are members of itscore management team exctuding Board of Directors and l(Mps.
APPOINTMENT AND REMOVAL OF DIRECTOR, KEY }TANAGERIAL PERSONNEL AND SENIORA,TANAGEMENT
a. Criteria of selection
i. The Committee sha[[ identify and ascertain the integrity, quatification, expertise andexperience.of the persgl for appointment as Director, fmp-or at Senior Aianagement andrecommend to the Board his/her appointment.
ii. A.person should possess adequate quatification, expertise and experience for the positionhe/she is considered for appointment. The Committee has authority to decide whetherq.ualification, expertise and experience possessed by a person are sufficient/satisfactory forthe position.
iii. ln.case of appointment of lndependent Directors, the Committee shatt satisfy itsetf withleSar! to the independent nature of the Directors vis-i-vis the Company so as to enabte theBoard to discharge its function and duties effectivety.
iv. The Committee sha[[ ensure that the candidate identified for appointment as a Director isnot disqualified for appointment under section 164 of the companiei act, 20t 3.
v. ln case of re'appointment of Non- Executive Directors, the Board shatt take intoconsideration the performance evatuation of the Director and his engagement levet.
b. Term/Tenure:
The Term/Tenure of the Directors/10{P's/Senior Management personnel shall be as per theCompany's prevaiting poticy subject to the provisions of tne Companies Act, 2013 and rutesmade there under.
c. Evaluation
The Committee shalt carry out evaluation of performance of Directors yearty or at suchintervals as may be considered necessary.
d. Removal
Due to reasons for any disqualification mentioned in the Companies Act, 2013, rules madethereunder or under any other appticabte Act, rutes and regutaiions or any other reasonabteground, the Committee may recommend to the Board for removat of a Director, l(Vrp or SeniorManagement Personnel subject to the provisions and comptiance of the said'Act, rutes andregutations.
e. Retirement
The Director, l(MP and senior management shatt retire as per the appticabte provisions of theCompanies Act,2013 along with the rutes made thereund'er and the prevaiting poticy of theCompany. The Board witl have the discretion to retain the Director, KMp & Senior'Management
Personnel in the same position/remuneration or otheruvise even after attaining the retirementage, for the benefit of the Company.
POLICY FOR REMU N ERATION TO DI RECTORS/K}IP/SENIOR IAANAGEMENT P ERSON NEL
1 ) Remuneration to Managing Director/Whole-time Directors:
a) The Remuneration/ Commission etc. to be paid to Managing Director/Whote-time Directors,etc. shat[ be governed as per provisions of the Companies Act, 2013 and rutes made thereunder or any other enactment for the time being in force and the approvats obtained from theMembers of the Company.
b) The Nomination and Remuneration Committee sha[[ make such recommendations to theBoard of Directors, as it may consider appropriate with regard to remuneration to ManagingDirector / Whote-time Directors.
2) Remuneration to Non- Executive/lndependent Directors:
The Non-Executive Directors/lndependent Directors shatt be entitted to receive sitting fees foreach meeting of the Board or Committee meeting attended by them of such sum as may beapproved by the Board of Directors within the overall limits prescribed under the CompaniesAct, 2013 and The Companies (Appointment and Remuneration of Manageriat Personnet) Rutes,2014. They are atso entitled for reimbursement of expenses in connection with participation inthe Board/Committee meetings / General Meetings.
3) Remuneration to Senior i{anagement Personnel:
a) The remuneration of Senior Management Personnet/[Ov1P's shatt be based on the experience,quatification and expertise of the retated personne[ and shal[ be decided by the ManagingDirector of the Company.
b) The remuneration is divided into two components viz. fixed component comprising salaries,perquisites and retirement benefits and a variabte component comprising of annuat bonus.
Amendments
The Board of Directors may review or amend this poticy, in whole or in part, from time to time,after taking into account the recommendations from the Nomination & RemunerationCommittee.
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A B T LIMITEDStandalone Balance Sheet as at 31.03.2019
(Rs. ln Lakhs)
Particulars Note No.As at
31.03.2019As at
31.03.2018ASSETS
NON.CURRENT ASSETS
(a) Property, Plant and Equipment 2 6L,O5g.2g 61,,479.91
(b) FinancialAssets(i) Investments(ii) Loans
(iii) Other financial assets
(c) Other Non-current Assets
CURRENT ASSETS
(a) lnventories
(b) FinancialAssets(i) Trade receivables(ii) Cash and cash equivalents(iii) Bank balances other than Cash and cash(iv) Loans
(v) Other Financial Assets
(d) Other current assets
TOTAL ASSETS
EQUITYAND TIABILITIES
EQUIW(a) Equity Share Capital(b) Other Equity
UABTUTtES
NON.CURRENT LIABITIT!ES
(a) Financial Liabilities(i) Borrowings(ii) Other Financial Liabilities(b) Provisions
(c) Deferred tax liabilities (Net)(d) Other non-current liabilities
64,t54.79 64,4L4.66
3
4
5
6
L,469.94
290.79
7,173.O5
161,.92
L,469.84
269.30
L,094.94
76!.66
7 8,140.93 6,294.70
8
9
r_0
71
12
2,824.90
850.94r_45.98
L7,069.53
79.68
2,699.19
1,395.65
148.68
L5,928.24
198.09
13 3,530.57 2,904.60
32,642.44 29,469.14
96,797.22 93,883.80
1.4
15
1s0.00
49,771..89
150.00
48,589.4049,92L.99 48,739.40
16
17
18
19
20
L7,506.19
345.09
977.92
7,932.69
86.06
15,961.90
338.35
878.81
L,920.22
88.3920,847.95 19,787.67
CURRENT tlABITITIES(a) Financial Liabilitiesi) Borrowingsii) Trade Payables
a)Total Outstanding dues of Micro &Small Enterprises
b) Total Outstanding dues of other than(ii)(a)above
iii) Other Financial Liabilities(b) Other current liabilities(c) Provisions
(d) Current Tax Liabilities (Net)
TOTAL EQUITY & TIABITITIES
Significant Accounting Policies
LO,g7g.gL 10,702.24
1,380.34 1,,759.94
27
22
23
24
25
26
L
5,910.33
7,099.38
241,.60
522.83
4,L82.LO
8,359.91
301.56651.07
26,033.39 25,956.72
96,797.22 93,883.90
See accompa ng notes to financial statements
As per our Report of event dateForPKNagarajan&CoChartered Accountants
Firm Registration No.: 0166765
rajan
Pa er
Membership No.:025579
UDIN: 19025679AAAAAP4976
Coimbatore
September 04,201-9
S Elavazhagan
Company Secretary
For and on Beha Board
Manickam
Chairman
DrN 00102
"Lh;t+-
han
Executive Director
DrNr 02459814
A B T TIMITED
Statement of Standalone Profit and loss for the Year Ended 31.03.2019(Rs. ln Lakhs)
ParticularsYear Ended
31.03.2019Year Ended
31.03.2018INCOME
Revenue from OperationsOther lncome
EXPENSES
Cost of material consumedPurchase of stock in tradeChanges in inventories of finished goods,
work-in-progress and stock in tradeEmployee benefits expense
Finance costs
Depreciation and amortization expense
Other expenses
Profit/Loss before Tax
Tax Expense:
Current taxDeferred tax
Profit/(toss) after Tax
Other Comprehensive lncome:Items that will not be reclassified to Statement of Profit and loss
Remeasurement benefit of the defined benefit plans
lncome tax expense on remeasurement benefitof the defined benefit plans
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
Earnings Per Equity Share (For ContinuingOperations) 43
Basic
Diluted
Significant Accounting Policies 7
See accompanying notes to financial statements
, 95,074.44, 92,234.5L2,O46.7t 2,7O9.7O
2,046.71 2,7O9.7O
27
28
29
30
31
32
33
34
35
94,057.45
3,063.719L,642.98
3,301.2397,L21.16 94,944.21
2,t24.2668,980.59
(L,873.4Ol,
9,397.00
3,604.73
L,395.42
LL,445.84
3,!56.!264,652.O4
(168.s1)
8,83L.L7
3,277.79
t,365.47'1,L,121.03
Profit/Loss before Exceptional ltems and Tax
860.39(6.0s)
888.09
59.30
854.34 947.39
1,192.37 L,762.3L
52.99 (s3.06)
(18.s2)
L,226.85
18.36
1,727.62
794.9L
794.9L
1,174.87
1,L74.87
As per our Report of event dateForPKNagarajan&CoChartered AccountantsFirm o.: 0166765
rajan
Mem rship No.: 025679UDIN : 19O25679AAAAAP4976
CoimbatoreSeptember o,4,201,9
''"""":il#i,i.ii'Chairma
DtN 00L
5 ElavazhCompany Secretary
A B T TIMITED
Standalone Cash Flow Statement for the Year Ended 31.03.2019(Rs. ln Lakhs)
ParticularsYear Ended
31.03.2019
Year Ended
31.03.2018
Cash Flow from Operating ActivitiesProfit/(Loss) Before Tax
Adjustments for:Depreciation and Amortisation(Profit)/Loss on Sale of Fixed Assets
Finance Costs
lnterest lncomeOperating Profit Before Working Capital Changes
Adjustments for:lnventoriesTrade Receivables
Other Non-Cu rrent Assets
Other Current Financial Assets
Other Current Assets
Other FinancialAssets
Trade Payables
Other Finance liabilityLong-Term provisions
Short-Term provisions
Current Tax Liabilities
Other Long-Term Liabilities
Other Current Liabilities
Cash Generated from Operationslncome tax paid
Net Cash generated from/(used in) Operating Activities
Cash Flow from lnvesting ActivitiesPurchase of fixed assets
Sale of fixed assets
Sale/(Purchase) of lnvestments
lnterest income
Net Cash generated from/(used in) lnvesting Activities
Cash Flow from Financing ActivitiesProceeds from/(Repayment of) Long-Term Borrowings
Proceeds fro m/( Repayment of) Short-Term Bo rrowings
Loans given/(Repayment) received for loan given
Dividend Payments
Finance Costs
Net Cash generated from/(used in) Financing Activities
2,046.7L 2,709.70
1.,395.42
57.883,604.73
t2,184.661
L,365.47(s7.1s)
3,277.19-2,224.65
4,920.08 5,070.52
(t,846.23)(tzs.62)
(0.1s)
Lt8.4t(72s.e6)
(.78.L2)
(37s.so)
t,734.9693.10(6.e71
(L28.24)(2.33)
(1,250.53)
(228.s3)
362.4L(3.61)
(63.8s)
(6s1.87)(144.s0)(74s.7s)(284.47)
98.54L3,2L
(268.00)
18.04
919.06
2,3L2.90(860.3e)
4,097.1,6
(888.0e)
L,452.51 3,203.06
184.66 224.65
1,091.00 1,L76.47
(L,195.57)
LoL.92
0.00
L,544.30
L76.66
(1.,L62.78)
(44.37)(3,604.73)
(1,294.661
253.49
-7.0L
4,793.00-3,728.03
(2,227.45]'
(4s.13)(3,277.L91
(3,090.9u 14,478.8t1
ParticularsYear Ended
31.03.2019
Year Ended
31.03.2018
Net lncrease/(Decreaselfrom Cash and Cash Equivalents
Cash and Cash Equivalents at the beginning of the Year
Cash and Cash Equivalents at the end of the Year
Cash and Cash Equivalents as per the Balance Sheet
ls47.4olL,544.33
996.93996.93
(se.28)
L,643.671,544.331,544.33
As per our Report of event date
ForPKNagarajan&Co
Chartered Accountants
Firm Registration No.: 0165755
P n
Membership No.:025679
U Dl N : 19025679AAAAAP4976
Coimbatore
September 04,2079
For and on Beh Board
Manickam
Chairman
DtN 001
tYrElavazh
Company Secretary
I Hari Hara Sudhan
Executive Director
DrN 024s9814
A B T LIMITED
Standalone Statement of Changes an Equity for the period ended 31st March 2019
A. Equity Share Capital
B. Other Equity
Particulars Note no. No of shares (Rs. ln Lakhs)
Balance as at 01.04.2018
Changes in Equity Share Capital during the year
Balance as at 31.03.2019Changes in Equity Share Capital during the year
Balance as at 31.03.2019
15
1,50,000
1,50,000
1,5o,OO;
150.00
150.00
150.0;
ln Lakhs
Reserves and Surplus
'TotalNoteno. General Reserve
DebentureRedemption
Reserve
Retained
Eamings
OtherComprehensive
income
Particulars
45,905.93
1,934.84
L,762.3L(34.70)
(434.84)(37.s0)
(7.53)
(1,s00.00)
48,589.41
48,589.41
1,139.93
L,792.37
34.47(63e.e3)
(36.66)
17.7tl(soo.oo)
49,771.89
1,008.15
1,008.15
639.93
1,648.08
573.31
434.84
t434.84)(37.s0)
(7.63)
(1,s00.00)
9.56
227.32
9.66
L,762.31,
L,L92.37
(53s.s3)
(36.56)
17.7Ll(soo.oo)
t7.73
(34.70],
34.47
49.49
49.27
1,4.79
L4.7916
46,056.811,500.00
47,556.81
47,556.8L
500.00
48,056.81
Balance as at lst April 2017
Transfer from Retained Earning
Profit / (Loss) for the year
Other Comprehensive lncome
Transfer to Debenture Redemption Reserve
Payment of Dividend on Equity shares
Payment of Dividend Distribution tax on the E
Transfer to General Reserve
Closing balance as at 31 March 2018
Balance as at 1st April 2018
Transfer from Retained Earning
Profit / (Loss) for the year
Other Comprehensive lncome
Transfer to Debenture Redemption Reserve
Transfere to General Reserve
Payment of Dividend on Equity shares
Payment of Dividend Distribution tax on the;Transfer to General Reserve
Closing balance as at 31 March 2019
Significant Accounting Policies
See accompanying notes to financial statements
1
As per our Report of event dateForPKNagarajan&CoChartered AccountantsFirm stration No.: OL66765
arajaner
Me bership No.: O25679U Df N : 19O25679AAArtuAP4976
CoimbatoreSeptember o,4,2OL9
For and on eeh* of Board
4!ru^Chairman
S ElavazhaganCompany Secretary
DIN OO 3
udhantive DirectortN 02459414
P.K. NAGARAJAN & COChartered Accountants
I No. 33, Desabandhu Street,
Ramnagal Colmbatore - 641 009
\ 0422-223L4L6
v pknagarajanandco@ g mait.com
@ wwwpknandco.in
Independent Auditor's RePortTo the Members of A B T LimitedReport on the Audit of the standalone Financial statements
Opinion1. We have audited the accompanying standalone financial statements of A B T Limited ("the
Company',), which comprise the Balance Sheet as at March 31, 2019, and the Statement of Profit and
Loss(including OtheiCbmprehensive lncome), Statement of.Cash Flows and Statement of Changes
in Equity for tne yearthen ended anJ notes'to the financial statements, including a summary of
signiiicaht accouniing policies and other explanatory information.
2. ln our opinion and to the best of our information and according to the explanations given to us, the
aforesaid standalone financial statemenis give the information iequired by the.Companies Act, 2013
(,,the Act,,) in tne manner so requireO anO iir" a true-and fair view in conformity with the accounting
principles generally accepted in lndia, of t-he state of affairs of the company as at March 31' 2019'
ine piorit a-no its cash flows for the year ended on that date.
Basis for OPinion3. We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section
143(10) of tne nci. Our responsibilities under those Standards are furtner described in the Auditor's
Responsibilities ior the Audit of the Financial Statements section of our report. We are independent
of the Company in ,""oiO"n"e with in" CoO" of Ethics issued by the lnstitute of Chartered
Accountants ot rioia (lcAl) together with the ethical requirements that are relevant to our audit of the
financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled
our other etnicariesponsibilities in accordance with these requirements and the lCAl's Code of Ethics'
we believe that the audit eviden"" *" nru" obtained is sufficient and appropriate to provide a basis
for our oPinion.
Other lnformation4. The Company,s Board of Directors is responsible for the preparation of the other information' The
other information obtained at the date of ihis audito/s report is Board's Report including Annexures
to Board,s neport ouidoes not include the financial statements and our auditor's report thereon'
S. Our opinion on the standalone financial statements does not cover the other information and we will
not express any form of assurance conclusion thereon'
6. ln connection with our audit of the standalone financial statements, our responsibility is to read the
other information identified above *n"nli becomes available and, in doing so, consider whether the
other information is materially inconsistent with the financial statements or our knowledge obtained in
theaudit,orotherwiseappearstobemateriallymisstated'
7. lf, based on the work we have performed on the other information obtained prior to the date of this
auditor,s report, we conclude that there is a material misstatement of this other information' we are
requiredtoreportthatfact'Wehavenothingtoreportinthisregard.
Responsibilities of Management and Those charged with Governance for the Standalone Financial
Statements8. The ComPanY's Board of Directors is responsible for the matters stated in section 134(5) of the Act
with resPect to the preparation of these standalone financial statements that give a true and fair view
of the financial Position' financial performance, changes in equitY and cash flows of the ComPanY in
accordance with the accounting principles generally accePted in lndia, including the accounting
ibility also includes maintenance ofndards specified under section 133 of the Act. This resPons
Page 119
P.K. NAGARAJAN & COChartered Accountants
I No. 33, Desabandhu Street,
Ramnaga4 Coimbatore - 541 0091. M22-223L4t6v pknagarajanandco@gmal[.com
@ www.pknandco.in
adequate accounting records in accordance with the provisions of the Act for safeguarding of theassets of the Company and for preventing and detecting frauds and other irregularitiei; seleciion andapplication of appropriate accounting policies; making judgments and estimates that are reasonableand prudent; and design, implementation and maintenanle of adequate internal financial controls,that were operating effectively for ensuring the accuracy and completeness of the accounting records,relevant to the preparation and presentation of the financial statements that give a true and fair viewand are free from material misstatement, whether due to fraud or error.
9. ln preparing the financial statements, the Board of Directors is responsible for assessing theCompany's ability to continue as a going concern, disclosing, as applicable, matters related to loingconcern and using the going concern basis of accounting unless the Board of Directors either intendito liquidate the Company or to cease operations, or has no realistic alternative but to do so.
10. Those Board of Directors are also responsible for overseeing the Company's financial reportingprocess.
Auditor's Responsibilities for the Audit of the Financial statements11. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditor's reportthat includes our opinion. Reasonable assurance is a high level of assurance, but is not a guaranteethat an audit conducted in accordance with SAs will always detect a material misstatement when itexists. Misstatements can arise from fraud or error and are considered material if, individually or inthe aggregate, they could reasonably be expected to influence the economic decisions of userstakenon the basis of these financial statements.
12' As part of an audit in accordance with SAs, we exercise professional judgment and maintainprofessional skepticism throughout the audit. We also:
(a) ldentify and assess the risks of material misstatement of the financial statements, whether dueto fraud or error, design and perform audit procedures responsive to those risks, and obtain auditevidence that is sufficient and appropriate to provide a basis for our opinion. The risk of notdetecting a material misstatement resulting from fraud is higher than for one resulting from error,asfraud may involve collusion, forgery, intentionalomissionl, misrepresentations, orthe overrideof internal control.
(b) Obtain an understanding of internal financial controls relevant to the audit in order to design auditprocedures tlat a1e appropriate in the circumstances, Under section 143(3Xi) of the Act]we arealso responsible for expressing our opinion on whether the Company h;;'adequate internalfinancial controls system in place and the operating effectiveness oi suin controls.
(c) Evaluate the appropriateness of accounting policies used and the reasonableness of accountingestimates and related disclosures made by management.
(d) Conclude on the appropriateness of management's use of the going concern basis of accountingand, based on the audit evidence obtained, whether a material uncertainty exists related toevents or conditions that may cast significant doubt on the Company's ability to continue as agoing concern. lf we conclude that a material uncertainty exists, we are requirei to draw attentionin our auditor's report to the related disclosures in the financial statements or, if such disclosuresare inadequate, to modify our opinion. Our conclusions are based on the audiievidence obtainedup to the date of our auditor's report. However, future events or conditions may cause theCompany to cease to continue as a going concern.
Page 219
P.K. NAGARAJAN E COChartered Accountants
I No.33, Desabandhu Street,
Ramnaga4 Coimbatore - il10091.0422-223L4L6
@ www.pknandco.in
(e) Evaluate the overall presentation, structure and content of the financial statements, including thedisclosures, and whether the financial statements represent the underlying transactions andevents in a manner that achieves fair presentation.
13. We communicate with those charged with governance regarding, among other matters, the plannedscope and timing of the audit and significant audit findings, including any significant deficiencies ininternal control that we identify during our audit.
14. We also provide those charged with governance with a statement that we have complied with relevantethical requirements regarding independence, and to communicate with them all relationships andother matters that may reasonably be thought to bear on our independence, and where appiicable,related safeguards.
15. From the matters communicated with those charged with govemance, we determine those mattersthat were of most significance in the audit of thelinancialltatements of the current period and aretherefore the key audit matters. We describe these matters in our auditor's report unless law orregulation precludes public disclosure about the matter or when, in extremely rare circumstances, wedetermine that a matter should not be communicated in our reporf because the adverseconsequences of doing so would reasonably be expected to outweigh the public interest benefits ofsuch communication.
Report on Other Legal and Regulatory Requirements16. fs required bythe Companies (Auditor's Report) Order,2016 ("the Orde/'), issued bythe Centrat
Government of lndia in terms of sub-section (11) of section 143 of the Act, we give in the ,,Annexure- A", a statement on the matters specified in paragraphs 3 and 4 of the Order, to lhe extent applicable.
17. As required by Section 143(3) of the Act, we report that:(a) We have sought and obtained all the information and explanations which to the best of our
knowledge and belief were necessary for the purposes of our audit.
(b) ln our opinion, proper books of account as required by law have been kept by the Company sofar as it appears from our examination of those books.
(c) The Balance Sheet, the Statement of Profit and Loss (including Other Comprehensive lncome),the Statement of Changes in Equity and the Cash Flow Statement dealt with by this Report arein agreement with the books of account.
(d) ln our opinion, the aforesaid standalone financial statements comply with the lnd AS specifiedunder Section 133 of the Act.
(e) On the basis of the written representations received from the directors as on March 31, 2O1gtaken on record by the Board of Directors, none of the directors is disqualified as on March 31,2019 from being appointed as a director in terms of Section 164(2) of the Act.
(f) With respect to the adequacy of the internal financial controls over financial reporting of theCompany and the operating effectiveness of such controls, refer to our sepaiate report in"Annexure - B"; and
(g) With respect to the other matters to be included in the Auditor's Report in accordance with Rule11 of the Companies (Audit and Auditors ) Rules, 2014, in our opinion and to the best of our
*o.o
€
q {'q{ cBe
and according to the explanations given to us:
Page 319
P.K. NAGARAJAN & COChartered Accountants
I No. 33, Desabandhu Street,
Ramnagaq Coimbatore - 64L 009\.0422-223L416
w pknagarajanandco@g mait.com
@ www.pknandco.in
(i) The Company has disclosed the impact of pending litigations as at March 31, 2019, on itsfinancial position in its financial statements as referred to in Note 36 to the financialstatements.
(ii) The Company did not have any long-term contracts including derivative contracts for whichthere were any material foreseeable losses.
(iii) There has been no delay in transferring amounts, required to be transferred, to the lnvestorEducation and Protection Fund by the Company.
CoimbatoreSeptember 04,2019
FoTPKNAGARAJAN&CO.,Chartered Accountants
Firm Registration Number: 01 66765
P arajanPartner
Membership Number: 025679UDIN: 1 9025679AAAAAP497 6
Page4l9
P.K. NAGARAJAN E COChartered Accountants
I No.33, Desabandhu Street,
Ramnagaq Coimbatore - 64L 009\ 0422-223L4L6
w pkna ga rajana ndco@ g mait.com
@ www.pknandco.ln
Annexure - A to the lndependent Auditor's ReportRe:A B T Limited Limited (the "Company'')
(a) The Company has maintained proper records showing full particulars, including quantitativedetails and situation of Fixed Assets.
(b) These Fixed Assets have been physically verified by the management at reasonable intervals.No material discrepancies were noticed on such physicalverification.
(c) According to the information and explanations given to us and on the basis of our examinationof the records of the Company, the title deeds of immovable properties are held in the name ofthe Company.
ii.
ilt
As explained to us, inventories have been physically verified by the management at regular intervalsduring the year. ln our opinion, the frequency of verification is reasonable. No material discrepancieswere noticed on such physicalverification.
The company has granted unsecured loan to seven parties, in earlier periods, covered in the registermaintained under Section 189 of the Act and outstanding balance of which, as at date of balancesheet, is Rs. 17,148.39|akhs. The loans granted are re-payable on demand only and there has beenno default on the part of the parties to whom the money has been lent. ln respect of the aforesaidloans, as per the terms and conditions, there are no amounts which are overdue for more than 90days.
ln our opinion, and according to the information and explanations given to us, the Company hascomplied with the provisions of Section 185 and 1BO of the Act, in respect of the loans given,investments made, securities provided and guarantee given.
The Company has not accepted any deposits from the public within the meaning of Sections 731o76of the Act and the rules framed there under.
vi. As per the information and explanations given by the management, maintenance of cost recordsprescribed by Central Government under sub-section (1) of Section 148 of the Act, is not applicableto the Company.
vil. (a) According to the information and explanations given to us and on the basis of our examinationof the records of the Company, undisputed statutory dues including provident fund, income-tax,sales tax, service tax, duty of customs, duty of excise, value added tax, cess, goods and servicetax and other material statutory dues have generally been regularly deposited during the year bythe Company with the appropriate authorities.
According to the information and explanations given to us, no undisputed amounts payable inrespect of provident fund, income{ax, sales tax, service tax, duty of customs, duty of excise,value added tax, cess, goods and service tax and other material statutory dues were in arrearsas at March 31,2019 for a period of more than six months from the date they became payable,except Electricity Generation Tax as mentioned below:
iv
V
Page 519
P.K. NAGARAJAN & COChartered Accountants
I No.33, Desabandhu Street,
Ramnaga4 Colmbatore - 641009\. u22-2231.41.6w pknagarajanandco@gmai[.com
@ www.pknandco.in
tx
vilt
xt
xil
Name of the Statute Nature of dues Amount(Rs. ln lakhs)
Period to which theamount relates
The Tamil Nadu Taxon Consumption orSale of Electricity
Act,2003
ElectricityGeneration Tax
95.45 31103120171o30/09/2018
(b) According to the information and explanations given to us and the records of the Companyexamined by us, there are no dues of sales tax, service tax, duty of excise, duty of customs andvalue added tax, which have not been deposited on account of any dispute. The particulars ofdues of income tax as at March 31 ,2019, which have not been deposited on account of dispute,are as follows:
Name of theStatute
Naturedues
of Amount(Rs. ln lakhs)
Period to whichthe amountrelates
Forum where theamount is pending
The lncome TaxAct, 1961
lncome Tax 124.81 AY:2012-13 Commissioner oflncome Tax(Appeals),Coimbatore
ln our opinion and according to the information and explanations given to us, the Company has notdefaulted in repayrnent of loans taken from banks, financial institutions or debenture holders. TheCompany does not have any loans or bonowings from Government.
According to the information and explanations given to us and based on examination of records ofthe Company, the term loans obtained during the year were applied for the purposes for which theywere obtained. The Company has not raised any money by way of initial public offer or further publicoffer (including debt instruments) during the year. Accordingly, the provisions of paragraph 3(ix) ofthe Order are not applicable to the company.
According to the information and explanations given to us, no material fraud by the Company or onthe Company by its officers or employees has been noticed or reported during the course of oui audit.
According to the information and explanations given to us and based on our examination of therecords of the Company, the Company has paid/provided any managerial remuneration with requisiteapprovals mandated by the provisions of section 197 read with Schedule V to the Act.
ln our opinion and according to the information and explanations given to us, the Company is not aNidhi company. Accordingly, paragraph 3(xii) of the Order is not appticable.
According to the information and explanations given to us and based on our examination of therecords of the Company, transactions with the related parties are in compliance with sections 177and 188 of the Act. The details of such transactions have been disclosed in the financial statementsas required by the applicable accounting standards.
x.
xI
the year under review, the Company has not made any preferential allotment or privateent of shares or fully or partly convertible debentures.
xiv. During
Page 619
P.K. NAGARAJAN E COChartered Accountants
rE#-FE-
I No.33, Desabandhu Street,
Ramnagar; Coimbatore - 641 009\ 0422-2231.4L6
@ www.pknandco.in
xv. According to the information and explanations given to us and based on our examination of therecords of the Company, the Company has not entered into non-cash transactions with directors orpersons connected with him. Accordingly, paragraph 3(xv) of the Order is not applicable.
xvi' The Company is not required to be registered under section 45-lA of the Reserve Bank of lndia Act1934. Accordingly, paragraph 3(xvi) of the Order is not appticabte.
CoimbatoreSeptember 04,2019
FoTPKNAGARAJAN&CO.,Chartered Accountants
Firm Registration Number: 01 66765
P
Membership NumPartner025679
UDIN: 1 9025679AAAAAP497 6
Page 719
P.K. NAGARAJAN & COChartered Accountants
I No.33, Desabandhu Street,
Ramnaga4 Coimbatore - 641 009\ 0422-223L4L6w pknagarajanandco@gmai[.com
@ www.pknandco.in
Annexure - B to the lndependent Auditor's ReportReferred to in paragraph 17(f) of the I ndependent Auditors' Report of even date to the members of A B TLimited on the standalone financial statements for the year ended March g1,2o1g
Report on the lnternal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of theCompanies Act, 2013 ("the Act")1. We have audited the internalfinancialcontrols overfinancial reporting of A B T Limited ("the Company'')
as of March 31, 2019 in conjunction with our audit of the standalone financial statements of theCompany for the year ended on that date.
Management's Responsibility for lnternal Financiat Controls2. The Company's management is responsible for establishing and maintaining internal financial controls
based on the internal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit of lntemal FinancialControls over Financial Reporting issued by the lnstitute of Chartered Accountants of lndia ('lCAl').These responsibilities include the design, implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficient conduct of itsbusiness, including adherence to company's policies, the safeguarding of its assets, the preventionand detection of frauds and errors, the accuracy and completeness of the accounting records, and thetimely preparation of reliable financial information, as required under the Act.
Auditors' Responsibi! ity3. Our responsibility is to express an opinion on the Company's internal financial controls over financial
reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Auditof lnternal Financial Controls over Financial Reporting (the "Guidance Note") and the Standards onAuditing, issued by lCAl and deemed to be prescribed under section 143(10) of the Act, to the extentapplicable to an audit of internal financial controls, both applicable to an audit of lnternal FinancialControls and, both issued by the lCAl. Those Standards and the Guidance Note require that we complywith ethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether adequate internal financial controls over financial reporting was established and maintainedand if such controls operated effectively in all material respects.
4. Our audit involves performing procedures to obtain audit evidence about the adequacy of the internalfinancial controls system over financial reporting and their operating effectiveness. Our audit of internalfinancial controls over financial reporting included obtaining an understanding of internal financialcontrols over financial reporting, assessing the risk that a material weakness exists, and testing andevaluating the design and operating effectiveness of internalcontrol based on the assessed risk. Theprocedures selected depend on the auditor's judgment, including the assessment of the risks ofmaterial misstatement of the financial statements, whether due to fraud or enor.
5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basisfor our audit opinion on the Company's internal financial controls slatem ovei financiai reporting.
Meaning of lnternal Financial Controls over Financial Reporting6. A company's internal financial control over financial reporting is a process designed to provide
reasonable assurance regarding the reliability of financial reporting and the preparation of financialstatements for external purposes in accordance with generally accepted accounting principles. Acompany's internal financial control over financial reporting includes those policies and proceduresthat:
pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect thetransactions and dispositions of the assets of the company;
rr.o
,,q
4
vI
AJ
rC E.T
(a)
Page 819
P.K. NAGARAJAN & COChartered Accountants
I No.33, Desabandhu Street,
Ramnagar; Coimbatore - 6410091.0422-223t4t6w [email protected]
@ www.pknandco.in
(b) provide reasonable assurance that transactions are recorded as necessary to permit preparationof financial statements in accordance with generally accepted accounting piinciples, and thatreceipts and expenditures of the company are being made only in accordance with iuthorizationsof management and directors of the company; and
provide reasonable assurance regarding prevention or timely detection of unauthorizedacquisition, use, or disposition of the company's assets that could have a material effect on thefinancial statements.
(c)
lnherent Limitations of lnternal Financial Controls Over Financial Reporting7. Because of the inherent limitations of internal financial controls over financiil reporting, including the
possibility of collusion or improper management ovenide of controls, material misstatements due toerrororfraud mayoccurand notbedetected.Also, projectionsof anyevaluation of the internalfinancialcontrols over financial reporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions, or that the degreeof compliance with the policies or procedures may deteriorate.
Opinion8. ln our opinion, the Company has, in all material respects, an adequate internal financial controls
system over financial reporting and such internal financial controls over financial reporting wereoperating effectively as at March 31 ,2019, based on the internal control over financial reportingLriteriaestablished by the Company considering the essential components of intemal controi stated in theGuidance Note on Audit of lnternal Financial Controls Over Financial Reporting issued by the lnstituteof Chartered Accountants of lndia.
CoimbatoreSeptember 04,2019
FoTPKNAGARAJAN&CO.,Chartered Accountants
Firm Registrarr**^
,rWPartner
Membership Number: 025679UDIN: 1 9025679AAAAAP4976
Page 919
rlarABT LIMITED
Notes Forming Part of Standalone Financial Statements as at 31.03.2019
NOTE NO - 1: SIGNIFICANT ACCOUNTING POIICIES
Corporate I nformation:The company was founded in 1931 and is based in Coimbatore, lndia. The Company
provides passenger transportation services; provides parcel services through a fleet of
trucks primarily in Tamil Nadu, Pondicherry, Kerala, Karnataka, Andhra Pradesh,
Maharashtra, Goa, and Gujarat, lndia; provides lT solutions to various business houses;
deals in Bharat Petroleum products in Coimbatore, lndia; operates as a Maruti car dealer
with showrooms and workshops in Tamil Nadu; and operates wind mills. lt also provides
customized services to clients in courier and cargo segments.
Significant Accounting Policies:1.1 Basis of Preparation and Presentation:
These financial statements are the separate financial statements of the Company (also
called standalone financial statements) prepared in accordance with lndian Accounting
Standards ('lnd AS') notified under Section 133 of the Companies Act, 2013, read together
with the Companies (lndian Accounting Standards) Rules, 2015.
These financial statements have been prepared and presented under the historical cost
convention, on the accrual basis of accounting except for certain financial assets and
financial liabilities that are measured at fair values at the end of each reporting period, as
stated in the accounting policies set out below. The accounting policies have been applied
consistently over all the periods presented in these financial statements.
1.2 Current/Non-Current Classification:The Company presents assets and liabilities in the balance sheet based on current / non-
cu rrent classification.
(a) An asset is treated as current when it is:
i. Expected to be realised or intended to be sold or consumed in normal operating
cycle, or
ii. Expected to be realised within twelve months after the reporting period, or
iii. Cash or cash equivalent unless restricted from being exchanged or used to settle
a liability for at least twelve months after the reporting period
iv. Held primarily for the purpose of trading
All other assets are classified as non-current.
(b) A liability is current when:
i. lt is expected to be settled in normaloperating cycle
ii. lt is due to be settled within twelve months after the reporting period, or
iii. There is no unconditional right to defer the settlement of the liability for at least
twelve months after the reporting period, or
iv. Held primarily for the purpose of trading
All other liabilities are classified as non-current.
ABT IIMITEDNotes Forming Part of Standalone Financial Statements as at 31.03.2019
Deferred tax assets and liabilities are classified as non-current assets and liabilities.
The operating cycle is the time between the acquisition of assets for processing and theirrealization in cash and cash equivalents. The Company has identified twelve months as its
operating cycle.
1.3 Use of EstimatesThe preparation of the financial statements in conformity with lnd AS requires theManagement to make judgements, estimates and assumptions considered in the reported
amounts of assets and liabilities (including contingent liabilities) as of the date of the
financial statements and the reported income and expenses like provision for employee
benefits, provision for doubtful trade receivables/advances/contingencies, provision forwarranties, allowance for slow/non-moving inventories, useful life of Property, Plant and
Equipment, provision for taxation, etc., during the reporting year. The Management
believes that the estimates used in the preparation of the financial statements are prudent
and reasonable. Future results may vary from these estimates.
The estimates and judgements used in the preparation of the financial statements arecontinuously evaluated by the Company and are based on historical experience andvarious other assumptions and factors (including expectations of future events) that theCompany believes to be reasonable under the existing circumstances. Differences betweenactual results and estimates are recognised in the period in which the results areknown/materialised.
The said estimates are based on the facts and events, that existed as at the reporting date,or that occurred after that date but provide additional evidence about conditions existingas at the reporting date.
1.4 lnventory:lnventories of stores and stock-in-trade are valued at lower of cost or net realizable value.
Cost of inventories of stores is arrived on weighted average basis and it includes all direct
costs and applicable over heads to bring the goods to the present location and condition.
Cost of inventories of stock-in-trade of vehicles is determined using specific identificationmethod.
Stock of Stores and work in progress are valued at cost or estimated cost.
1.5 Property, Plant and Equipment:Property, Plant and Equipment assets are carried at cost net of tax / duty credit availed less
accumulated depreciation and accumulated impairment losses, if any. Cost includes
expenditure that is directly attributable to the acquisition of the items.
ABT TIMITEDNotes Forming Pan of Standalone Financial Statements as at 31.03.2019
Historical cost includes taxes, duties, freight, insurance etc., attributable to acquisition and
installation of assets and borrowing cost incurred up to the date of commencing
operations but excludes duties and taxes that are recoverable from taxing authorities.lndirect expenses during construction period, which are required to bring the asset in thecondition for its intended use by the management and are directly attributable to bringing
the asset to its position, are also capitalized.
Subsequent costs are included in the asset's carrying amount or recognized as a separate
asset, as appropriate, only when it is probable that future economic benefits associated
with the item will flow to the Company and the cost of the item can be measured reliably.
The carrying amount of any component accounted for as a separate asset is derecognized
when replaced. All other repairs and maintenance are charged to the Statement of Profitand Loss during the reporting period in which they are incurred.
Assets which are not ready for their intended use and Capital work-in-progress are carried
at cost comprising direct cost, related incidental expenses and attributable interest.
Depreciation: Depreciation on Property, Plant and Equipment is provided on the straight-line method over the useful life in the manner prescribed in the Schedule ll of theCompanies Act 2013.
Depreciation on addition to assets or on sale/discardment of assets, is calculated on pro-rata from the month of such addition or up to the month of such sale/discardment, as thecase may be.
Leasehold improvements are depreciated on straight line basis over the lease period
De-recognition: An item of property, plant and equipment is derecognised upon disposal
or when no future economic benefits are expected to arise from the continued use ofasset.
Gains and losses on disposals or retirement of assets are determined by comparing
proceeds with carryinB amount. These are recognized in the Statement of Profit and Loss.
1.5 !ntangible assetsMeasurement at recognition: lntangible assets acquired separately are measured on initialrecognition at cost. lntangible assets arising on acquisition of business are measured at fairvalue as at date of acquisition. lnternally generated intangibles including research cost are
not capitalized and the related expenditure is recognized in the Statement of Profit and
Loss in the period in which the expenditure is incurred. Following initial recognition,
intangible assets are carried at cost less accumulated amortization and accumulated
impairment loss, if any.
NotesABT TIMITED
Part of Standalone Financial Statements as at 31.03.2019
Amortization: lntangible Assets with finite lives are amortized on a Straight-Line basis over
the estimated useful economic life. The amortization expense on intangible assets withfinite lives is recognized in the Statement of Profit and Loss. The amortization period and
the amortization method for an intangible asset with finite useful life is reviewed at the
end of each financial year. lf any of these expectations differ from previous estimates, such
change is accounted for as a change in an accounting estimate.
De-recognition: The carrying amount of an intangible asset is derecognized on disposal orwhen no future economic benefits are expected from its use or disposal. The gain or loss
arising from the De-recognition of an intangible asset is measured as the difference
between the net disposal proceeds and the carrying amount of the intangible asset and is
recognized in the Statement of Profit and Loss when the asset is derecognized.
1.7 Revenue Recognition:The Company adopted lnd AS 115 Revenue from Contracts with Customers, using themodified retrospective method of adoption with the date of initial application of April,Ol20L8.
The Company elected to apply this standard to all the contracts as at April 01, 2018. The
effect of adoption of lnd AS 115 on the Financial Statement is not material.
Revenue is measured at the fair value of the consideration received or receivable. Revenue
is reduced for estimated customer returns, rebates and other similar allowances.
a) Sale of goods:
Revenue from the sale of goods is recognized when the goods are dispatched or
appropriated in accordance with the terms of sale at which time the title and significant
risks and rewards of ownership pass to the customer. Revenue is recognized when
collectability of the resulting receivable is reasonably assured. Revenue is inclusive of
excise duty and is reduced for estimated customer returns, commissions, rebates and
discounts, and other similar allowances.
lncome from Power generation is recognized as per the terms of Power Purchase
Agreements and on supply of power to the grid.
b) Rendering of services:Revenue from services is recognised when the services are rendered in accordance with
the specific terms of contract and when collectability of the resulting receivable is
reasonably assured.
ABT LIMITED
Notes Forming Part of Standalone Financial Statements as at 31.03.2019
c) Other Operating Revenues:Other operating revenues comprise of income from ancillary activities incidental to the
operations of the Company and is recognised when the right to receive the income is
established as per the terms of the contract.
d) Dividend and interest income:Dividend income from investments is recognised when the shareholder's right toreceive payment has been established (provided that it is probable that the economic
benefits will flow to the company and the amount of income can be measured reliably),
lnterest income from a financial asset is recognised when it is probable that the
economic benefits will flow to the company and the amount of income can be
measured reliably. lnterest income is accrued on a time basis, by reference to the
principal outstanding and at the effective interest rate applicable, which is the rate that
exactly discounts estimated future cash receipts through the expected life of the
financial asset to that asset's net carrying amount on initial recognition.
a) lnsurance Claims:lnsurance claims are accounted for on the basis of claims admitted/ expected to be
admitted and to the extent that the amount recoverable can be measured reliably and
it is reasonable to expect ultimate collection.
b) Rentallncome:Rental income arising from operating leases is accounted for on a straight-line basis
over the lease terms and is included in revenue in the statement of profit or loss due to
its operating nature.
1.8 Foreign Currency transactions:On initial recognition, transactions in foreign currencies entered into by the Company are
recorded in the functional currency (i.e. lndian Rupees), by applying to the foreign currency
amount, the spot exchange rate between the functional currency and the foreign currency
at the date of the transaction. Exchange differences arising on foreign exchange
transactions settled during the year are recognized in the Statement of Profit and Loss.
Foreign currency monetary items of the Company are translated at the closing exchange
rates. Non-monetary items that are measured at historical cost in a foreign currency, are
translated using the exchange rate at the date of the transaction. Non-monetary items that
are measured at fair value in a foreign currency, are translated using the exchange rates at
the date when the fair value is measured.
Exchange differences arising out of these translations are recognized in the Statement of
Profit and Loss.
ABT LIMITED
Notes Forming Part of Standalone Financial Statements as at 31.03.2019
1.9 Employee Benefits:a) Short Term Employee Benefits
All employee benefits payable wholly within twelve months of rendering the service
are classified as short-term employee benefits and they are recognized in the period in
which the employee renders the related service. The Company recognizes the
undiscounted amount of short term employee benefits expected to be paid inexchange for services rendered as a liability (accrued expense) after deducting any
amount already paid.
b) Post-EmploymentBenefits:if Defined Contribution plans:
Defined contribution plans are Provident Fund, Employee State lnsurance scheme
for all applicable employees and superannuation scheme for eligible employees.
Recognition and measurement of defined contribution plans:
The Company recognizes contribution payable to a defined contribution plan as an
expense in the Statement of Profit and Loss when the employees render services
to the Company during the reporting period. lf the contribution payable for
services received from employees before the reporting date exceeds the
contributions already paid, the deficit payable is recognized as a liability after
deducting the contribution already paid. lf the contribution already paid exceeds
the contribution due for services received before the reporting date, the excess is
recognized as an asset to the extent that the prepayment will lead to, for example,
a reduction in future payments or a cash refund.
iil Defined Benefit plans
Gratuity: Liabilities with regard to the gratuity benefits payable in future are
determined by actuarial valuation at each Balance Sheet date. Actuarial gains and
losses arising from changes in actuarial assumptions are recognized in other
comprehensive income and shall not be reclassified to the Statement of Profit and
Loss in a subsequent period.
1.10 Segment Reporting
Operating segments are reported in a manner consistent with the internal reportingprovided to the Chief Operating Decision Maker ('CODM') of the Company. The CODM is
responsible for allocating resources and assessing performance of the operating segmentsof the Company.
1.11 Government GrantsGovernment grants are not recognised until there is reasonable assurance that the
company will comply with the conditions attaching to them and that the grants will be
received.
ABT TIMITED
Notes Forming Part of Standalone Financiat Statements as at 31.03.2019
Government grants are recognised in profit or loss on a systematic basis over the periods
in which the company recognises as expenses the related costs for which the grants are
intended to compensate. Specifically, government grants whose primary condition is thatthe company should purchase, construct or otherwise acquire non-current assets are
recognised as deferred revenue in the balance sheet and transferred to profit or loss on a
systematic and rational basis over the useful lives of the related assets.
Government grants that are receivable as compensation for expenses or losses already
incurred or for the purpose of giving immediate financial support to the company with no
future related costs are recognised in profit or loss in the period in which they become
receivable.
ln respect of government loans at below-market rate of interest existing on the date of
transition, the Company has availed the optional exemption under lnd AS 101 - First Time
Adoption and has not recognised the corresponding benefit of the government loan at
below-market interest rate as Government grant.
1.12 lncome Taxes
The income tax expense or credit for the period is the tax payable on the current period's
taxable income based on the applicable income tax rate for each jurisdiction adjusted by
the changes in deferred tax assets and liabilities attributable to temporary differences and
to unused tax losses.
Current Tax
The current income tax charge is calculated on the basis of the tax laws enacted or
substantively enacted at the end of the reporting period. Management periodically
evaluates positions taken in tax returns with respect to situations in which applicable tax
regulation is subject to interpretation. lt establishes provisions where appropriate on the
basis of amounts expected to be paid to the tax authorities.
Deferred Tax
Deferred income tax is provided in full, using the Balance Sheet method, on temporarydifferences arising between the tax bases of assets and liabilities and their carryingamounts in the financial statements. Deferred income tax is determined using tax rates(and laws) that have been enacted or substantially enacted by the end of the reportingperiod and are expected to apply when the related deferred income tax asset is realised,or the deferred income tax liability is settled.
Deferred tax assets are recognised for all deductible temporary differences and unusedtax losses only if it is probable that future taxable amounts will be available to utilisethose temporary differences and losses.
Deferred tax assets and liabilities are offset when there is a legally enforceable right tooffset current tax assets and liabilities and when the deferred tax balances relate to the
Notes FormiABT LIMITED
Part of Standalone Financial Statements as at 31.03.2019
same taxation authority. Current tax assets and tax liabilities are offset where the entityhas a legally enforceable right to offset and intends either to settle on a net basis, or torealise the asset and settle the liability simultaneously.
Deferred tax assets include Minimum Alternative Tax (MAT) paid in accordance with thetax laws in lndia, which is likely to give future economic benefits in the form of availabilityof set off against future income tax liability. Accordingly, MAT is recognised as deferred taxasset in the balance sheet when the asset can be measured reliably, and it is probable thatthe future economic benefit associated with the asset will be realised.
Presentation of Current and Deferred Tax:
Current and deferred tax are recognized as income or an expense in the Statement ofProfit and Loss, except when they relate to items that are recognized in OtherComprehensive lncome, in which case, the current and deferred tax income/expense are
recognized in Other Comprehensive lncome.
The Company offsets current tax assets and current tax liabilities, where it has a legally
enforceable right to set off the recognized amounts and where it intends either to settle ona net basis, or to realize the asset and settle the liability simultaneously. ln case of deferredtax assets and deferred tax liabilities, the same are offset if the Company has a legallyenforceable right to set off corresponding current tax assets against current tax liabilitiesand the deferred tax assets and deferred tax liabilities relate to income taxes levied by thesame tax authority on the Company.
Minimum Alternative Tax (MAT) credit, which is equal to the excess of MAT (calculated in
accordance with provisions of Section 115J8 of the lncome tax Act, 1961) over normalincome-tax is recognized as an item in deferred tax asset by crediting the Statement ofProfit and Loss only when and to the extent there is convincing evidence that the Companywill be able to avail the said credit against normal tax payable during the period of fifteensucceeding assessment years.
1.13 Earnings per shareBasic earnings per share is computed by dividing net income by the weighted average
number of common shares outstanding. Diluted earnings per share is computed by
dividing income available to shareholders and assumed conversion by the weighted
average number of common shares and potential common shares from outstanding stock
options.
l.t4 lmpairment of AssetsThe carrying values of assets/cash generating units are reviewed at each Balance Sheet
date to determine whether there is any indication of impairment of the carrying amount
of the Company's assets. lf any indication exists, an asset's recoverable amount is
estimated. An impairment loss is recognised whenever the carrying amount of the asset
exceeds the recoverable amount. The recoverable amount is the greater of the net selling
price and their value in use. Value in use is arrived at by discounting the future cash flows
to their present value based on an appropriate discount factor. When there is indication
ABT LIMITED
Notes Forming Part of Standalone Financia! Statements as at 31.03.2019
that an impairment loss recognised for an asset in earlier accounting periods no longer
exists or may have decreased such reversal of impairment loss is recognised in the
Statement of Profit and Loss.
1.15 Provisions and ContingenciesThe company recognizes provisions when a present obligation (legal or constructive) as a
result of a past ev€nt exists and it is probable that an outflow of resources embodying
economic benefits will be required to settle such obligation and the amount of such
obligation can be reliably estimated.
lf the effect of time value of money is material, provisions are discounted using a current
pre-tax rate that reflects, when appropriate, the risks specific to the liability. When
discounting is used, the increase in the provision due to the passage of time is recognized
as a finance cost.
A contingent liability is a possible obligation that arises from past events whose existence
will be confirmed by the occurrence or non-occurrence of one or more uncertain future
events beyond the control of the Company or a present obligation that is not recognized
because it is probable that an outflow of resources will not be required to settle the
obligation. However, if the possibility of outflow of resources, arising out of present
obligation, is remote, it is not even disclosed as contingent liability.
A contingent liability also arises in extremely rare cases where there is a liability that
cannot be recognized because it cannot be measured reliably. The Company does not
recognize a contingent liability but discloses its existence in the notes to financial
statements. A Contingent asset is not recognized in financial statements, however, the
same is disclosed where an inflow of economic benefit is probable.
1.15 Leases
a) Company as Lessee
The Company's significant leasing arrangements are in respect of operating leases for
premises that are cancellable in nature. The lease rentals under such agreements are
recognised in the Statement of Profit and Loss as per the terms of the lease.
Rental expense from operating leases is generally recognised on a straight-line basis over
the term of the relevant lease or based on the time pattern of user benefit basis. Where
the rentals are structured solely to increase in line with expected general inflation to
compensate for the lessor's expected inflationary cost increases, such increases are
recognised in the year in which such benefits accrue. Contingent rentals arising under
operating leases are recognised as an expense in the period in which they are incurred.
ABT TIMITEDNotes Forming Part of Standalone Financial Statements as at 31.03.2019
ln the event that lease incentives are received to enter into operating leases, such
incentives are recognised as a liability. The aggregate benefit of incentives is recognised
as a reduction of rental expense on a straight-line basis, except where another systematicbasis is more representative of the time pattern in which economic benefits from theleased asset are consumed.
b) Company as LessorThe Company's significant leasing arrangements are in respect of operating leases forpremises that are cancellable in nature. The lease rentals under such agreements are
recognised in the Statement of Profit and Loss as per the terms of the lease. Rental
income from operating leases is generally recognised on a straight-line basis over theterm of the relevant lease. Where the rentals are structured solely to increase in line withexpected general inflation to compensate for the Company's expected inflationary cost
increases, such increases are recognised in the year in which such benefits accrue. lnitial
direct costs incurred in negotiating and arranging an operating lease are added to thecarrying amount of the leased asset and recognised on a straight-line basis over the lease
term.
1.17 Borrowing CostsBorrowing cost includes interest, amortisation of ancillary cost incurred in connection
with the arrangement of borrowings and the exchange differences arising from foreign
currency borrowings to the extent they are regarded as an adjustment to the interestcost. General and specific borrowing costs that are directly attributable to the acquisition,
construction or production of a qualifying asset are capitalized during the period of timethat is required to complete and prepare the asset for its intended use or sale. Qualifyingassets are assets that necessarily take a substantial period of time to get ready for theirintended use or sale.
lnvestment income earned on the temporary investment of specific borrowings pendingtheir expenditure on qualifying assets is deducted from the borrowing costs eligible forcapitalization. Other borrowing costs are expensed in the period in which they areincurred.
1.18 Financial lnstrumentFinancial assets and financial liabilities are recognised when an entity becomes a party tothe contractual provisions of the instrument.
Financial assets and financial liabilities are initially measured at fair value. Transaction
costs that are directly attributable to the acquisition or issue of financial assets and
financial liabilities (other than financial assets and financial liabilities at fair value throughStatement of Profit and Loss) are added to or deducted from the fair value of the financial
assets or financial liabilities, as appropriate, on initial recognition. Transaction costs
ABT TIMITEDNotes Forming Part of standalone Financia! statements as at 31.03.2019
directly attributable to the acquisition of financial assets or financial liabilities at fair valuethrough Profit and Loss are recognised immediately in Statement of profit and Loss.
a) Fair Value MeasurementThe Company measures financial instruments, such as, investments at fair value at eachbalance sheet date.
Fair value is the price that would be received to sell an asset or paid to transfer a liabilityin an orderly transaction between market participants at the measurement date. The fairvalue measurement is based on the presumption that the transaction to sell the asset ortransfer the liability takes place either:
i) ln the principal market for the asset or liability, orii) ln the absence of a principal market, in the most advantageous market for the asset
or liability
The fair value of an asset or a liability is measured using the assumptions that marketparticipants would use when pricing the asset or liability, assuming that marketparticipants act in their best economic interest.
A fair value measurement of a non-financial asset takes into account a marketparticipant's ability to generate economic benefits by using the asset in its highest andbest use or by selling it to another market participant that would use the asset in itshighest and best use.
The Company uses valuation techniques that are appropriate in the circumstances andfor which sufficient data are available to measure fair value, maximising the use ofrelevant observable inputs and minimising the use of unobservable inputs.
All assets and liabilities for which fair value is measured or disclosed in the financialstatements are categorised within the fair value hierarchy, described as follows, based onthe lowest level input that is significant to the fair value measurement as a whole:
i) Level 1 - Quoted (unadjusted) market prices in active markets for identical assets orliabilities
ii) Level 2 - Valuation techniques for which the lowest level input that is significant tothe fair value measurement is directly or indirectly observable
iii) Level 3 - Valuation techniques for which the lowest level input that is significant tothe fair value measurement is unobservable.
r
ABT TIMITEDNotes Forming Part of standalone Financial statements as at 31.03.2019
For assets and liabilities that are recognised in the financiat statements on a recurringbasis, the Company determines whether transfers have occurred between levels in thehierarchy by re-assessing categorisation (based on the lowest level input that is significantto the fair value measurement as a whole) at the end of each reporting period.
For the purpose of fair value disclosures, the Company has determined classes of assetsand liabilities on the basis of the nature, characteristics and risks of the asset or liabilityand the level of the fair value hierarchy as explained above.
When the fair values of financials assets and financial liabilities recorded in the BalanceSheet cannot be measured based on quoted prices in active markets, their fair value is
measured using valuation techniques, including the discounted cash flow model, whichinvolve various judgements and assumptions.
b) FinancialAssetsi) lnitial recognition and measurement
Allfinancial assets are recognised initially at fair value plus, in the case of financialassets not recorded at fair value through profit or loss, transaction costs that areattributable to the acquisition of the financial asset.
ii) SubsequentmeasurementFor purposes of subsequent measurement: Debt instruments are measured atamortised cost.
iiil De-recognitionA financial asset (or, where applicable, a part of a financial asset or part of a groupof similar financial assets) is derecognised primarily when:(a). The rights to receive cash flows from the asset have expired, or(b). The Company has transferred substantially all the risks and rewards of the
asset
iv) lmpairment of Financial Assetsln accordance with lnd-AS 109, the Company applies expected credit loss (ECL)
model for measurement and recognition of impairment loss on the financial assets
and credit risk exposure that are debt instruments, and are measured atamortised cost e.9., loans, debt securities, deposits, trade receivables and bankbalance.
The company follows 'simplified approach' for recognition of impairment loss
allowance on Trade receivables.
ABT TIMITEDNotes Forming Part of standalone Financial statements as at 31.03.2019
The application of simplified approach does not require the company to trackchanges in credit risk. Rather, it recognises impairment loss allowance based onlifetime ECLs at each reporting date, right from its initial recognition
Lifetime ECL are the expected credit losses resulting from all possible defaultevents over the expected life of a financial instrument. ECL is the differencebetween all contractual cash flows that are due to the Company in accordancewith the contract and all the cash flows that the Company expects to receive,discounted at the original ElR. when estimating the cash flows, an entity is
required to consider:
(a). All contractual terms of the financial instrument (including prepayment,extension, call and similar options) over the expected life of the financialinstrument. However, in rare cases when the expected life of the financialinstrument cannot be estimated reliably, then the entity is required to use
the remaining contractual term of the financial instrument.
(b). Cash flows from the sale of collateral held or other credit enhancements thatare integral to the contractual terms.
As a practical expedient, the company uses a provision matrix to determineimpairment loss allowance on portfolio of its trade receivables. The provisionmatrix is based on its historically observed default rates over the expected life ofthe trade receivables and is adjusted for forward-looking estimates. At everyreporting date, the historical observed default rates are updated and changes inthe forward-looking estimates are analysed.
ECL impairment loss allowance (or reversal) recognized during the period is
recognized as income/ expense in the Statement of Profit and Loss (P&L). Thisamount is reflected under the head 'other expenses' in the Statement of Profitand Losses. The Balance Sheet presentation for various financial instruments is
that in the case of Financial assets measured as at amortised cost, ECL is presentedas an allowance, i.e., as an integral part of the measurement of those assets in theBalance Sheet. The allowance reduces the net carrying amount. Until the assetmeets write-off criteria, the group does not reduce impairment allowance fromthe gross carrying amount.
For assessing increase in credit risk and impairment loss, the Company combinesfinancial instruments on the basis of shared credit risk characteristics with theobjective of facilitating an analysis that is designed to enable significant increasesin credit risk to be identified on a timely basis.
ABT LIMITEDNotes Forming Part of standalone Financial statements as at 31.03.2019
c) FinancialLiabilitiesi) lnitial recognition and measurement
All financial liabilities are recognised initially at fair value and, in the case of loansand borrowings and payables, net of directly attributable transaction costs. TheCompany's financial liabilities include trade and other payables.
ii) SubsequentmeasurementFinancial liabilities designated upon initial recognition at fair value through profitor loss are designated as such at the initial date of recognition, and only if thecriteria in lnd AS 109 are satisfied. For liabilities designated as F\rrpL, fair valuegains / losses attributable to changes in own credit risks are recognized in OCl.These gains/ losses are not subsequently transferred to P&1. However, theCompany may transfer the cumulative gain or loss within equity. All other changesin fair value of such liability are recognised in the statement of profit or loss.
iii) De-recognitionA financial liability is derecognised when the obligation under the liability is
discharged or cancelled or expires. When an existing financial liability is replacedby another from the same lender on substantially different terms, or the terms ofan existing liability are substantially modified, such an exchange or modification is
treated as the de-recognition of the original liability and the recognition of a newliability. The difference in the respective carrying amounts is recognised in thestatement of profit or loss.
1.19 lnvestment in subsidiary and Associatelnvestments in subsidiary and associate are recognised at cost as per lnd AS 27.lnvestments are accounted in accordance with IND AS 105 when they are classified as
held for sale. On disposal of investment, the difference between its carrying amount andnet disposal proceeds is charged or credited to the statement of profit and loss
1.20 Events after Reporting dateWhere events occurring after the Balance Sheet date provide evidence of conditions thatexisted at the end of the reporting period, the impact of such events is adjusted withinthe financial statements. Otherwise, events after the Balance Sheet date of material sizeor nature are only disclosed.
1.21 Cash and Cash EquivalentsCash and cash equivalents in the Balance Sheet comprise of cash on hand, demanddeposits with Banks, other short-term, highly liquid investments with original maturitiesof three months or less that are readily convertible to known amounts of cash and whichare subject to an insignificant risk of changes in value.
ABT TIMITEDNotes Forming Part of standalone Financial statements as at 31.03.2019
1.22 Cash flow Statement:Cash flows are reported using the indirect method, whereby profit before tax is adjustedfor the effects of transactions of non-cash nature and any deferrals or accruals of past orfuture cash receipts or payments. The cash flows from operating, investing and financingactivities of the Company are segregated based on the available information.
1.23 Rounding off amountsAll amounts disclosed in the financial statements and notes have been rounded off to thenearest Lakh with two decimals, as per the requirement of Schedule llt, unless otherwisestated.
1.24 Recent accounting pronouncementsStandards issued but not yet effective
ln March 2019, the Ministry of Corporate Affairs (MCA) issued the Companies (lndianAccounting Standards) Amendment Rules, 2019 and the Companies (lndian AccountingStandards) Second Amendment Rules, 2019, notifying new standards and amendments tocertain issued standards. These amendments are applicable to the Company from AprilO!,20L9. The Company will be adopting the below stated new standards and applicableamendments from their respective effective date.
al Ind AS 116, Leases
lnd AS 116 supersedes lnd AS 17, Leases. Under lnd AS LL6, a tessee will recognise aliability to make lease payments (i.e., the lease liability) and an asset representing theright to use the underlying asset during the lease term (i.e., the right of use asset) at thecommencement date of lease. Lessees will be required to separately recognise interestexpense on the lease liability and depreciation expense on the right of use asset. Lessoraccounting under lnd AS 115 remains substantially unchanged from accounting under lndAS 17. lnd AS 116 is effective for annual periods beginning on or after April 01, 2019. Thecompany is in the process of assessing the impact of adoption of rnd As 116.
b) Appendix C, Uncertainty over lncome Tax Treatment to lnd AS 12, lncome TaxesThe Appendix clarifies how to apply the recognition and measurement principtes whilerecognizing current tax, deferred tax, taxable profits (losses), tax bases, unused tax losses,unused tax credits and tax rates when there is uncertainty over tax treatments under lndAS 12' As per the Appendix, the Company needs to assess whether it is probable that atax authority will accept an uncertain tax treatment used or a treatment which is beingproposed to be used in its income tax filings. The Appendix will be applied retrospectivelywith the cumulative effect of its initial application on the opening balance sheet as onApril01, 2019.
The impact of the Appendix on the Financial Statements, as assessed by the Company, isexpected to be not material.
ABT LIMITEDNotes Forming Part of standalone Financial statements as at 31.03.2019
c) Other Amendments (effective from April 01, 2019)o Amendments to lnd AS 19, Employee Benefitso Amendments to lnd AS 23, Borrowing Costso Amendments to lnd AS 109, Financial lnstruments
Effective date for application of these amendments is annual period beginning on or afterApril 01, 2019. Based on preliminary work done, the company does not expect anysignificant impact in its Financial Statements.
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Particulars As at31.03.2019
As at31.03.2018
NOTE NO - 3
NON-CURRENT INVESTMENTS
l. lnvestments in Equity lnstruments
Unquoted Equity Shares
i. Subsidary
ABT Two Wheeler Private Limited (Measured at Cost)
10,000 (31.03.18: 10,000) Shares of Rs.10 each
ii. Other EntitySakthi Auto Component Limited (Measured at Cost)
23,82,680 (3 1.03. 18 : 23,82,6801 Sh a res of Rs. 10
each
Aggregate cost of Unquoted lnvestments
ll. lnvestments in Government Securities -Unquoted
(Measured at Cost)
Bhadratha Social Security Scheme of Governmentof Kerala
Total
lll. lnvestment in Others (Measured at Cost)
ABT Employee.Co-Operative T & C Society Ltd
lV.lnvestment in Partnership firms (Measured at Cost)The Anamallais Retrading CorporationArea 641
Total
TOTAL
1.00
1.,460.33
1.00
1,460.33
L,461.33 1,46L.33
1,451.33 1,461.33
0.15 0.15
0.1s
1.51
2.35
4.50
0.15
1.51
2.3s
4.50
6.85 5.8s
1,469.84 t,469.94
Particulars As at31.03.2019
As at31.03.2018
NOTE NO.4
NON-CURRENT LOANS
(Unsecured, Considered good unless other wise stated)
Loans and Advances to related parties
Employee related Loans and advances
Less: Provision for Expected Credit Loss
TOTAL
Security-wise Breakup:
Loans Receivables considered good - Secured
Loans Receivables considered good - Unsecured
Loans Receivables which have significant increase in Credit Risk
Loans Receivables - credit impaired
Less: Provision for Expected Credit Loss
NOTE NO.5
OTHER NON-CURRENT FINANCIAT ASSETS
Security Deposits
Rental Deposits
TOTAL
250.00
40.79
2s0.00
19.30
290.79 269.30
290.79 269.30
290.79 269.30
290.79 269.30
290.79 259.30
164.03
1,009.03
172.94
921,.99
L,L73.05 1,094.94
ParticularsAs at
31.03.2019
As at31.03.2018
NOTE NO - 5
OTHER NON-CURRENT ASSETS
Capital advances
Sundry Deposits
TOTAL
NOTE NO.7
INVENTORY
(a) Stock ln Trade
Vehicle
Petrol, Lubricants and Spares
(bl Stores and Spares
Materials, Spares and Consumables
(c) Work in Progress
Total
NOTE NO - 8
CURRENT TRADE RECEIVABLES
(Unsecured, Considered good unless other wise stated)
Trade Receivable from Related Parties
Trade Receivables from others
Less: Provision for Expected Credit Loss
79.94 75.88
81.88 84.78
L61.82 151.55
1,032.38 5,084.99
6,969.07 7,047.67
8,001.45 6,132.60
43.75 82.72
43.75 82.72
95.73 79.37
8,140.93 6,294.70
679.82 709.37
2,1,6'J,.32 1.,ggg.gt
2,841.14 2,699.79
16.34
TOTAL 2,824.80 2,699.78
ParticularsAs at
31.03.2019
As at31.03.2018
Security-wise Breakup:
Trade Receivables considered good - Secured
Trade Receivables considered good - Unsecured
Trade Receivables which have significant increase in Credit Risk
Trade Receivables - credit impaired
Less: Provision for Expected Credit Loss
NOTE NO.9
cAsH AND CASH EqUTVALENTS
Bank balances in current accounts
Fixed Deposits with maturity of less than three Months
Cash on hand
Stamp on Hand
TOTAL
NOTE NO.10
BANK BALANCES OTHER THAN CASH AND CASH EqUIVATENTS
Balances with Banks for Unclaimed dividend
Margin money /security against borrowings withmaturity more than 3 Months but Less than 12
Months
TOTAL
2,L6L.32 2,699.1,8
76.34
2,777.65
76.34
2,699.18
2,t6t.32 2,599.18
455.28
110.09
285.23
0.34
1,089.54
17.04
288.66
0.32
8s0.94
1,.24
144.74
1,395.65
7.24
147.44
145.98 148.58
Particulars As at31.03.2019
As at31.03.2018
NOTE NO - 11
CURRENT TOANS
(Unsecured, Considered good)
Loans and Advances to related parties
Loans and Advances to others
Employee related Loans and advances
Less: Provision for Expected Credit Loss
TOTAL
Security-wise Breakup:Loans Receivables considered good - Secured
Loans Receivables considered good - Unsecured
Loans Receivables which have significant increase in Credit Risk
Loans Receivables - credit impaired
Less: Provision for Expected Credit Loss
TOTAL
NOTE NO.12
OTHER CURRENT FINANCIAL ASSETS
Rental Deposits
lnterest receivable
TOTAL
1.6,749.87 15,518.66
287.57 288.68
32.09 20.91_
L7,069.53 L5,928.24
17,069.53 15,928.24
17,069.53 1,5,928.24
17,069.53 t5,928.24
74.92
4.77
196.49
1.60
79.68 198.09
L7,O69.53 15,928.24
Particulars As at31.03.2019
As at31.03.2018
NOTE NO - 13
OTHER CURRENT ASSETS
Employee related Loans and advances
Prepaid expenses
Claims Receivable
lncome Receivable
Balances with Government authorities
Advance for purchases & others
TOTAL
NOTE NO.14
EqUITY SHARE CAPITAL
Authorised
2,00,000 Equity Shares of Rs.100 each
(2,00,000)
1,00,000 Preference Shares of Rs.100 each(100000)
lssued
1,50,000 Equity Shares of Rs.100 each
(1,50,000)
Subscribed and Paid up1,50,000 Equity Shares of Rs.100 each(1,50,000)
TOTAL
98.49
82.47
1,01,6.43
2.to
193.84
2,737.24
110.00
92.17
534.90
1..67
360.22
7,705.64
150.00
100.00
150.00
100.00
250.00 250.00
1s0.00 150.00
150.00 150.00
150.00 150.00
150.00 150.00
No. of SharesReconciliation of Number of Shares No. of SharesEquity Shares at the beginning ofthe year 1,50,000 1,50,000Add: Shares issued/allotted on preferential basis
Equity Shares at the end of the year 1,50,000 1,50,000
3,530.57 2,904.60
Particulars
Rights, Preferences and Restrictions of each class of Shares
The Company has only one class of equity shares having a face value of Rs.100 each. Each
shareholder is eligible for one vote per share held. Dividend is payable when it is recommended bythe Board of Directors and approved by the Members at the Annual General Meeting. ln the eventof liquidation, the equity shareholders will get the remaining assets of the Company after paymentof all the preferential amounts.
List of Shareholders more than 5% of shares
NOTE NO.15
RESERVES AND SURPLUS
As at31.03.2019
As at31.03.2018
i. General Reserve
Balance As per last Balance sheetAdd:
Transfer from Retained Earnings
Closing Balance
ii. Debentures Redemption Reserve
Balance As per last Balance sheetAdd: Transfer from Retained Earnings
Closing Balance
iii. Retained Earnings
Balance As per last Balance sheetAdd: Profit for the year
Less:
Payment of Dividend
Payment of Tax on Dividend
Transfer to Debenture Redemption Reserve
Transfer to General Reserve
47,556.82 46,056.81
500.00 1,500.00
48,055.82 47,556.81
1,008.15
539.93
573.31
434.84
1,548.08 1,008.15
9.66'J,,792.37
227.32
1,,762.31.
1,202.03 1,989.63
35.66
7.7t
639.93
500.00
37.50
7.63
434.84
1,500.00
1,184.30 L,979.97
As on 31,03.2019 As on 31,03.2018Name of Shareholders
No, of Shares Yo No. of Shares %
M, Manickam 1,16,395 77.6Cto 1,16,395 77,50%
M, Balasubramaniam 9,465 6.31% 9,455 6.3tYo
Closing Balance 17.73 9.65
Particulars As at31.03.2019
As at31.03.2018
iv. Other Comprehensive lncomeBalance As per last Balance sheetAddition/Deletion During the year
1.4.79
34.4749.49
(34.70)
Closing Balance 49.27 L4.79
Total[(i]to (iv)l 49,77t.89 49,589.40
Nature & Purpose of Reserves(a) General Reserve
This Reserve is created by an appropriation from one component of equity (generally RetainedEarnings) to another, not being an item of Other Comprehensive lncome. The same can be utilizedin accordance with the provisions of the Companies Act, 2013.
(b) Retained Earnings
Retained earnings are the profits that the company has earned till date, less any transfers togeneral reserve, dividends or other distributions paid to shareholders.
(c ) Debenture Redemption Reserve
The Company is required to create a Debenture Redemption Reserve out of the profits which isavailable for purpose of redemption of debentures.
NOTE NO.16
NON-CURRENT BORROWINGS
(a) Secured Loans
i) Non-Convertible Debentures 4,994.82 3,674.55
ii) Term Loans
From Banks
From Other Parties
Total ofTerm Loans
Total of Secured Loans
(b) Unsecured Loans
Loans from Related parties
8,664.6',J.
1,292.85
8,762.79'J,,199.87
9,957.46 9,962.56
L4,952.28 13,637.21
2,553.91 2,324.69
2,553.91 2,324.69TOTAL L7,506.t9 15,961.90
ParticularsAs at
31.03.2019
As at31.03.2018
A) NoN-CONVERTIBLE DEBENTU RES
B) SECURED LOAN FROI,I
Nature of security Terms of Repayment
Non-Convertible Debentures of Rs.1@0/- each
aggregating to Rs. 6592.30 (March 31, 2018:Rs.t1032.58) are
secured by mortage of unencumbered windmills and the
land belonging to the company.
The tenure of debenture is 36 months with interest rate ofLZYo.
Nature ofsecurity and outstanding Terms of Repavment
It, ferm Loan aggregating to Rs.4255.86 (2018
1Rs.2566.93 (including current maturities) from City
lUnion Bank Ltd are secured by
la, Hypothecation of Machineries, conputers andlother equipnents purchased under these loans.
lb. Exclusive first charge on land and building of theConpa ny situated at Ana nn llai, Nilava ra ppatti(Sa lem), Neelambur (Coimbatore), Vilangudi(Madurai), Perianegannm and Udunnlpet and land atThankkankulam (Madurai) and Pazhavoor (Tirunelveli)
ll.Repayable in LzO installmnts starting from
105.12.2007. Balance Out standing Rs. 0.00 Lakhs
l(2018 Rs.35.23)
l2.Repayable in t2O installrnents starting from
14.11.2008. Balance out standing Rs. 0.00 Lakhs
l(2018 Rs.46.33 Lakhs)
li. Repayable in 120 installrnents starting from
127.03,2008, Balance Out standing Rs. 0,00 Lakhs(2018 Rs.5.87 Lakhs)
4.Repayable in t20 installnBnts starting from28.01.2009. Balance Out standing Rs, 0.00 Lakhs(2018 Rs.50.67 Lakhs)
|
5.Repayable in 120 npnthly installrnents starting froml13,4.2010. Balance Out standing Rs.343.45 Lakhs(2018 Rs.462.83 Lakhs)
6. Repayable from 12 nonthly instanrnts starting from26.10,2017 Rs.293.35 Lakhs (2018 Rs250.00 Lakhs)
7. Repayable in 120 instalnrents starting from2L.02.2020, Balance outstanding Rs.3619.06(2018Rs.1215.00 Lakhs)
Rate of Interest : 2019 - 12.500/o p.a.(2018 -12.550/o p.a.)
2. Term Loan aggregating to Rs.5437.66 Lakhs(2018 Rs.6768.13 Lakhs from Karur Vysya BankLtd is secured prirmrily by Hypothecation ofnnchineries, corputers and other equipnentspurchased under this loans. Collateral Security:Exclusive first charge on land and building of the
lConpany situated at (1) Sidco Industrial Estate,
lKappalur, Madurai (2) l0haveraraghavapuram VillageTirunelveli, (3) Panayakuruchi at Tiruchy (4) Land andtuilding owned by the Anamallais RetradingCorpontion at Chennai (5) Land and B:iHing atPalanzhur Village Chenbannpakkam (TK)Kancheepumm (6) Plant and Machinery atAyyanaruthu Village Tirunelveli Dt.
Particulars
NOTE NO.17
OTHER-NON CURRENT FINANCIAT LIABILITIES
Security Deposits
NOTE NO.18
NON.CURRENT PROVISIONS
Provision for Gratuity
As at31.03.2019
34s.09
As at31.03.2018
338.35
345.09 338.3s
971..92 878.81
Bank Ltd is secured by first charge on the landbelonging to the Vice Chairperson of the Conpany Lakhs (2018 Rs.12.47 Lakhs)
Rate of Interest : 2019 - 12.350/o p,a. (2018-12.350/op.a. )
3,Term Loan aggregating to Rs.Nil (2018 Rs.1Z41,Term loan is repayable in 84 npnthly installnents
rts from 11,08.2010. Balance out standing Rs. 0,00
Lakhs) (including current rmturities) from
4.Term Loan aggregating to Rs.1164.11 (2018 Rs.
1541.38 lakhs) from Kotak ilahindra Bank Ltd is
secured by first charge on the land and buildingsituated at Ukkadam in Coinbatore.
Term loan is repayable in 60 npnthly installnentsstarts from 25.10.2016. Balance out standingRs.1164.11 Lakhs (2018 Rs.1541.38 Lakhs)Rate of Interest : 2019- 14.00o/o p.a, (2018-14.000/op.a. )
S.ferm Loan aggregating to Rs.857.37 (201 l.Term loan is repayable in 120 rmnthly installnrentsRs.700.00 lakhs from Repco Bank Ltd is secured by from 20.03.2018 Balance out standingfirst charge on the land and building situated at Rs.660.26 (2018 Rs.700 Lakhs)Senynadai village at lGrur and Annunkulam property 2,Term loan is repayable in 120 nmnthly installnentsat Avinashi road, Coinbatore starts from 06.12.2018 Balance out standing
Rs.197.11 (2018 Rs.0.00 hkhs)Rate of Interest : 11.500/o p,a
The above loans availed from Banks arc guaranteed by Sri. M Manickam Chairman of the CompanyArmunt of Rs.72,33 Lakhs (2018 Rs.93.15 Lakhs ) relating to deferred expenses towards processings chargesis netted of against loan,
Naturc ofsecurity and outstanding Terms of Repayment
l.Sundaram Finance Ltd : Rs.1339.09 Lakhs (2018-Rs.1091.57 Lakhs) Heavy Vehicles Refinance &Denp Vehicles2. Kotak Mahindra PrirrE Ltd :Rs.77.09 lakhs (2018-Rs.O.00 Lakhs) Denn Vehicles3. Mahindra and Mahindra Financial Services LtdRs.600.59 lakhs (2O18-700.00 lakhs) - secured byland and building at Ooty.
1. Sundram Finance Ltd (a) HP loan repayable in 36installrEnts Rate of interest : 13.50olo p.a.2.Kotak Mahindra prirne ltd - Hp Loans repayable in 60rrpnths Rate of interest 11.50% pa.3.Mahindra and Mahindra Financials services ltd - HPrepayable in 60 rmnths : Rate of interest ]-2.5Oo/o pa.
TOTAL 971.92 878.81
Particulars As at31.03.2019
As at31.03.2018
NOTE NO - 19
!NCOME TAXES
Tax expense recognized in the Statement of Profit and Loss
A teconciliation of the income tax expenses to the amount computed by applying the statutory income tax rate tothe profit before income taxes is summarized below:
Particulars Year ended
31.03.2019
Year ended
31,03.2018
(i) lncome Tax recognised in Statement of Profit and Loss
Current tax
Current Tax on taxable income for the year
Total current tax expense
Deferred tax
Deferred Tax Expense/(Savi ngs)
tvlAT Credit (taken)/utilised
Total deferred income tax expense/(benefit)
Total income tax expense
(ii)lncome tax recognised in OtherComprehensive lncome
Deferred Tax
Deferred Tax Expenses on remeasurement of defined benefit plans
860.39 888.09
860.39 888.09
(6.0s) (7e.6s)
138.95
(5.0s) 59.30
854.34
(18.s2)
947.39
18.35
Particulars Year ended
31.03.2019
Year ended
31.03.2018
Enacted income tax rate in lndia applicable to the Company
Profit before tax
Current tax expenses on Profit before tax expenses at the enacted income
Tax etfect of the amounts which are not deductible/(taxable) in calculating
Effect of expenses that are not deductible in determining taxable profit
Effect of expenses that are deductible for tax purpose
Reversal of Deferred tax assets on derecognition oftax lossess
OtherAdjustments
Adjustment in respect of current tax of previous years
Total i ncome tax expense/(Savi ngs)
34.9M%
2,M6.77
715.20
(s3o.07)
385.93
(s.01)
10.01
34.608%
2,709.70
937.77
(s38,3e)
587.84
59.38
(118,43)
(13e,14) (s.62)
854.34 947.39
Particulars As at31.03.2019
As at31.03.2018
4sat31,03.2019
4sat31.ts,2018
Deferred tax Lia bilities
TOTAL
7,932.69 7,920.22
1,932.69 L,920.22
Particulan Ealance sheet
01.04.2018
Profit & loss
2018-19
0ct
2018-19
Balance sheet
31.03.2019
Defered tar Liabilities:
Difference between WDV/CWP of PPEas
Total defered tax lhbilities (A)
B, DeferedtaxAsets:
a3B/ a0(a)(ia) Disallowances etc,
Remeasurement benefits of Defined benefit plans
MATCredit Entitlement
Total deferrcd tax asets {B)
Net Defened tax liability (l{etl (A.B}
2,131.19 (42.es) 2,094,20
2,137.L9 (42.eel 2,M,20
224.N
(7.83)
(36,941
(18.s2)
187,86
(26,3s)
216.91 (35.e41 (18.s21 151,51
\en,n (6,05) 1&52 1,932.69
Particulars Ealance sheet
01.04.2017
Profit & Loss
2017.18
0ct
201i-18
Balance sheet
31.03.2018
lo. ***oo*u*',*,r,,Difference between WDV/CWIP of PPE as
Totaldefemd tu lhbiliries (Al
B, DeferedtuAsets:
a3B/ a0(a)(ia) Disallowances etc.
Remeasurement benefits of Defined benefit plans
I\4AT Credit Entitlement
Total defemd tu assets (Bl
l{et Defemd tax liability (iletl (A.B]
2,235.45 (e8.25) 2,137.19
2,235.45 le8,25l 2,137.19
243.4r
(26,le)
138.95
(18,61)
(138.9s)
18.36
224,N
(7.83)
356,17 (1s7,s51 18,36 2t5,91
1879.2e 59.30 18.35 \e20.n
Particulars As at31.03.2019
As at31.03.2018
NOTE NO - 20
OTHER NON-CURRENT LIABILITIES
Rental Deposits 53.04 56.84
Retention money 33.01 3L.54
Total 86.05 88.39
NOTE NO - 21
CURRENT BORROWINGS
i) Secured Loans
Loans repayable on demand
From Banks 5,960.56 2,786.92
Total of Secured Loans 5,960.56 2,786.82
ii) Unsecured Loans
From Banks 7,L11.7O 909.37
From Other Parties 3,806.65 7,006.06
Total of Unsecured loans 4,9L8.34 7,9!5.43
TOTAL LO,878.9L 10,702.24
Working Capital loans with limit of Rs.3150lakhs with outstanding balance of Rs.2855.71
takhs (2018- Rs.1184.12lakhs) from City Union Bank are secured by first charge on thestock and Book debts of the Company.
Working Capital loans with limit of Rs.1500lakhs with outstanding balance of Rs.1418.33
!*akhs(2018- Rs.725.82lakhs)fromKarurVysyaBankaresecuredbyfirstchargeonthestock and Book debts ofthe Company.
Working Capital loans with limit of Rs.800lakhs with outstanding balance of Rs.7tG.91l^akhs (2018 - Rs.287.51 lakhs) from Federa! Bank are secured by first charge on the stockand Book debts of the Company.
Working Capital loans with limit of Rs.500lakhs with outstanding balance of Rs.504.84Lakhs (2018- Rs.497.98lakhs) from Axis Bank is secured by first charge onSaint Mary's Roadproperty of Mrs. M. Mariammal.
Particulars As at31.03.2019
As at31.03.2018
Working Capital loans with limit of Rs.500lakhs with outstanding balance of Rs.433.5G
takhs (2018 - Rs.91.37lakhs) from Kotak Mahindra Bank is secured by first charge onLand and building of the company situated at Ukkadam coimbatore District.
NOTE NO - 22
TRADE PAYABLE
Due to Micro Small and Medium Enterprises
Due to Others:
Amount due to Related Parties
Other Trade Creditors
TOTAL
NOTE NO.23
OTHER CURRENT FINANCIAL LIABILITIES
Current maturities of long term debts
Current maturities of Non Convertible Debentures
I nter Corporate Deposits
lnterest accrued and due
Unclaimed dividends
Unclaimed matured deposits
Expenses payable
TOTAL
91..02 94.27
7,289.32 7,665.57
1,380.34 L,759.84
3,707.13
1,,597.48
200.00
55.68
1..25
13.80
340.99
3,324.69
358.03
13.8s
1.39
15.45
468.69
5,910.33 4,L82.1O
ParticularsAs at
31.03.2019
As at31.03.2018
NOTE NO - 24
OTHER CURRENT LIABITITIES
Advance from customers
Statutory remittances
Employee related Obligations
Book Overdrafts
Other Liabilities
TOTAL
NOTE NO.25
CURRENT PROVISIONS
Provision for Gratuity
Provision for Compensated absence
TOTAL
NOTE NO - 25
cURRENT TAX LTABTUTTES (NET)
Provision for Taxation ( Net )
TOTAL
5,325.69 6,50L.20
365.99 295.51
L,375.06 1,,542.00
7.23
25.40 21..20
7,099.38 8,359.91
105.55
135.05
188.23
113.33
241.60 301.56
522.83 657.07
s22.83 551.07
ParticularsYear Ended
31.03.2019Year Ended
31.03.2018NOTE NO - 27
REVENUE FROM OPERATIONS
INCOME
(a) Sale of products
Spare Parts,Petrol,Diesel & Oil
Maruti Vehicles
Miscellaneous ltems
(b) Sale of services
Labour & Service Charges etc.,
Traffic Collections
Freight Collections
Receipts from Windmills
NOTE NO.28
OTHER INCOME
lnterest lncome - Bank Deposits
Gain on Foreign Currency fluctuationlnterest lncome - others
Rent Receipts
Profit on Sale of Fixed Assets
Agricultural lncome
Miscellaneous lncome
Sundry Balance Written - back
NOTE NO.29
COST OF PETROI, DISEAT AND SPARES CONSUMED
Opening Stock
Add : Purchases
Less: Closing Stock
10,729.58
65,844.3L
10.99
4,957.84
L27.86
11,183.90
L,202.97
12,303.60
62,404.23
3,818.01
105.53
11,455.73
1,545.88
Total
Total
Total
23.98
2,760.67
144.24
0.19
51.11
683.52
13.61
0.40
2,21,1,.04
22.53
57.19
0.33
L47.97
848.L7
94,057.45 9!,642.98
3,063.71 3,301.23
158.04
2,097.10
98.02
3,21,6.15
2,255.14 3,3t4.16
130.87 158.04
2,L24.26 3,L55.12
ParticularsYear Ended
31.03.2019NOTE NO.30
PURCHASE OF STOCK IN TRADE
HSD, Petrol & Oil etc.,Spare parts
Maruti Vehicles
NOTE NO.31
CHANGES IN INVENTORIES OF GOODS, WORK !N
PROGRESS & STOCK IN TRADE
OPENING STOCK
Spare parts,Petrol,Diesel & Oil
MarutiVehiclesWork in progress
CTOSING STOCK
Spare parts,Petrol,Diesel & Oil
MarutiVehiclesWork in progress
NOTE NO.32
EMPIOYEES' BENEFIT EXPENSE
Salaries and Wages
Gratuity and Pension plan expense
Contribution to Provident & Other Funds
Workmen & Staff Welfare Expenses
2.O7
8,482.O7
60,496.458,L9L.84
56,460.20
Total
Total
Total
58,980.59 64,652.O4
999.s3
5,057.75
79.37
L,264.78
4,6!2.8390.55
6,136.65 5,958.1.5
945.26
6,969.O7
95.73
999,53
5,057.75
79.37
8,010.05 6,136.65
(1,873.40) (158.s1)
8,377.67
199.01
677.62
208.7t
7,734.8L
2L6.65
591.96
287.74
9,397.O0 8,831.17
Year Ended
31.03.2018
ParticularsYear Ended
31.03.2019Year Ended
31.03.2018NOTE NO - 33
FINANCE COST
lnterest Expenses
Long Term Borrowings
Other Borrowing Costs
NOTE NO.35
OTHER EXPENSES
Consumption of Diesel
Consumption of Spares
Oil & Lubricants
Tyres, Tubes, Flaps & RT charges
Licence & Taxes
Vehicle, Machinery & Equip. Hire Charges
Delivery, Loading and Unloading Charges
Windmills operating expenses
Freight and Cartage
lnsurance
Rent
Rates & Taxes
Agency Commission & lncentive
Brokerage
Advertisement & Sales Promotion
Selling, Handling & Holding Expenses
Electricity Charges
Vehicle Maintenance
Repairs & Maintenance to Buildings
Repairs & Maintenance to Machinery
Repairs & Maintenance to Other Assets
Claims & Compensation
Travelling Expenses
Auditors Remuneration
Professional, Legal and Consultancy Expenses
3,583.8920.83
3,254.6322.s6
Total
Total
3,604.73 3,277.19
NOTE NO.34
DEPRECIATION AND AMORT]ZATION EXPENSE
Depreciation on Property, Plant and Equipment L,395.42 L,365.47
L,395.42 1,365.47
734.62
2.27
0.8s
77.L2
t47.433,843.37
t,277.0964.82
388.79
145.55
t,785.1244.92
392.80
4.57
t,t86.870.51
377.58
317.54
L03.70
63.44
26s.52
2.22
308.40
12.50
242.L8
98.66
3.69
1.06
9.81
766.2t4,O24.02
L,262.55
747.92
589.88
134.63
952.56
36.97
418.92
3.00
7,010.24
1.58
350.67
267.80
113.16
83.35
2L6.47
0.94
330.61
11.81
760.74
ParticularsYear Ended
31.03.2019
Year Ended
31.03.2018Directors Remuneration
Sitting Fees to directors
Printing & StationeryPostage, Telephone & Telex
Bank Charges & Commission
CSR ExpenditureBooks and periodicals
General Expenses
Miscellaneous Expenses
Agricultural Expenses
lmpairment allowance on trade receivables considered doubtfulBad Debts & Sundry Advances written-offLoss on sale/discarding of fixed Assets
Loss on Foreign Currency fluctuation
Total
99.692.45
33.32193.99
8L.74
52.40
4.56
16.85
L76,TL
0.02
t6.34185.66
57.88
1.09
155.48
4.0054.63
t97.L556.7r19.93
4.91
17.72
198.36
0.14
14.76
1L,445.84 l,-,Lz,-.o3
Notes forming part of Financial Statements as at 31.03.2019
36 CONTINGENT LIABILITIES AND COMMITMENTS
a) CONTINGENT tlABltlTlES
B. CONTINGENT LIABITITIES ON ACCOUNT OF GUARANTEES
37 INVESTMENT IN PARTNERSHIP FIRMS
Rs. ln Lakhs)
Particulars 31.03.2019 31.03.2018
Claims against the Company not acknowledged as debts:-
a. lncome Tax matters Amount paid fully under protest
b. Other lncome Tax matters
c. Electricity taxd. Pending claims
e. Others
1,L79.06
L24.8L
s3.99
6.06
799.74
1,178.06
L24.8L
53.99
5.94
t97.35
Particulars 31.03.2019 31.03.2018
a. Corporate guarantee given to erstwhile Foreign Subsidiary
(i) Guarantee amount
(ii) Outstanding amount
b. Guarantees issued by bankers
c. Corporate guarantee given for loans to Associates
(i) Guarantee amount
(ii) Outstanding amount
6,861.37
20.05
3,000.00
29,483.50
18.00
3,000.00
Particulars Share Capital % Profit Share Share Capital % Profit Share
a) Anamallais Retreading CorporationABT Limited
Karunambal Vanavarayar
Gowri Manickam
Vinodhini
S. Sankari
M. Mariammal
a) Area 641
ABT Limited
N Senthil Kumar
G Niresh
M Sudarsan
A Ramprakash
P Arunkumar
R Samadolf Raj
S Muruganand
2.35
1.28
L.28
L.28
7.28
2.55
23.5Oo/o
L2.80%
72.80%
72.80%
72.80%
25.50%
2.3s
7.28
1.28
1.28
1.28
2.55
23.50%
t2.80%72.80%
12.8C%
t2.80%25.s0%
10.00 L00.00% 10.00 L00.0Oo/o
3.00
3.00
1.s0
3.00
1.s0
1.50
1.s0
1.50
L8j8%L8j8%9.09%
18.t80/o
9.09%
9.O9%
9.O9%
9.O9o/o
3.00
3.00
1.s0
3.00
1.50
1.s0
1.50
1.50
78.L8%
L8.18%
9.O9%
L8.78%
9.O9%
9.09%
9.09%
9.09%
16.50 L00.00% 16.50 100.00%
38 Operating Lease
As Lessee
As Lessor
39 INVESTMENT IN SUBSIDARY
These Financial statements are separate financial statements prepared in accordance with lnd AS-27 "Separate Financial
Statements".
The Company's investment in Subsidary is as under:
40 AUDITOR'S REMUNERATION:
Particulars 31.03.2019 31.03.2018
Annual lease payments included as expenses in the Statement of Profit and Loss
Future Minimum Lease Payable
Not later than one year
Later than one year and not later than five years
Later than five years
1,099.90
991.93
2,823.31
L,226.63
9s2.s6
1,063.80
3,432.55
L,707.O4
Particulars 31.03.2019 31.03.2018
Annual lease rental receipts included as income in the Statement of Profit and Loss
Future Minimum Lease Receivable
Not later than one year
Later than one year and not later than five years
Later than five years
18.59
12.8s
11.1.0
20.29
70.77
21.62
Name of the Subsidary Country oflncorporation
Portion of
Ownership
interest as at
31.03.2019
Portion of
Ownership interest
as at 31.03.201.8
Method used to
account for the
lnvestment
ABTTWO WHEELER PW LTD INDIA 700% tOoo/o Amortized cost
Particulars 31.03.2019 31.03,2018
Statutory audit fee
Other Services
Reimbursement of expenses
Service Tax
9.00
3.50
0.L2
7.50
3.50
0.81
72.62 11.81
4L Disclosure under the Micro, Small and Medium Enterprises Development Act, 2006 are provided as under for the year
2117-t8,to the extent the Company has received intimation from the "suppliers" regarding their status under the Act.
Dues to Micro and Small Enterprises have been determined to the extent such parties have been identified on the basis
of information collected by the Management. This hos been relied upon by the ouditors.
42 EMPTOYEE BENEFITS
A. Defined contribution Plans
The Company makes Provident Fund, Superannuation Fund and Employee State lnsurance Scheme contributions which
are defined contribution plans, for qualifying employees. Under the Schemes, the Company is required to contribute a
specified percentage of the payroll costs to fund the benefits. The Company recognised Rs.385.38 Lakhs (Year ended
March 31, 2018 - Rs.355.23 Lakhs) for Provident Fund contributions, Rs.13.71 Lakhs (Year ended March 3L, 2018-
Rs.16.27 Lakhs) for Superannuation Fund contributions and Rs.199.48 Lakhs (Year ended March 31, 2018 'Rs.199'61
Lakhs) for Employee State lnsurance Scheme contributions in the Statement of Profit and Loss for the year ended 31st
March 2019. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes'
Particulars 31.03.2019 31.03.2018
(i) Principal amount and the interest due thereon remaining unpaid to each supplier
at the end of each accounting year (but within due date as per the MSMED Act)
Principal amount due to micro and small enterprise
lnterest due on above
(ii) lnterest paid by the Company in terms of Section 15 of the Micro, Small and
Medium Enterprises Development Act, 2006, along-with the amount of the
payment made to the supplier beyond the appointed day during the period
(iii) lnterest due and payable for the period of delay in making payment (which have
been paid but beyond the appointed day during the period) but without adding
interest specified under the Micro, Small and Medium Enterprises Act, 2006
(iv) The amount of interest accrued and remaining unpaid at the end of each
accounting year
(v) lnterest remaining due and payable even in the succeeding years, until such date
when the interest dues as above are actually paid to the small enterprises
B. Defined benefit plans : Gratuity
ln respect of Gratuity plan, the most recent actuarial valuation of the plan assets and the present value of the defined
benefit obligation were carried out as March 3L,2OL9 by Mr.Srinivasan Nagasubramanian, Fellow of the lnstitute of
Actuaries of lndia. The present value of the defined benefit obligation, and the related current service cost and past
service cost, were measured using the projected unit cost method. The following table sets forth the status of the
Gratuity Plan of the Company and the amount recognised in the Balance Sheet and Statement of Profit and Loss. The
Company provides the gratuity benefit through annual contributions to a fund managed by the Life lnsurance
Corporation of lndia (LlC).
The Company is exposed to various risks in providing the above gratuity benefit which are as follows:
lnterest Rate risk : The plan exposes the Company to the risk of fall in interest rates. A fall in interest rates will result in
an increase in the ultimate cost of providing the above benefit and will thus result in an increase in the value of the
liability (as shown in financial statements).
lnvestment Risk : The probability or likelihood of occurrence of losses relating to the expected return on any particular
investment.
Salary Escalation Risk : The present value of the defined benefit plan is calculated with the assumption of salary increase
rate of plan participants in future. Deviation in the rate of increase of salary in future for plan participants from the rate
of increase in salary used to determine the present value of obligation will have a bearing on the plan's liability.
Demographic Risk : The Company has used certain mortality and attrition assumptions in valuation of the liability. The
Company is exposed to the risk of actual experience turning out to be worse compared to the assumption.
Rs. ln Lakh
Gratuity Funded
2018-19 20L7-L8Particulars
1,570.01
107.24
29.32
LLo.72
55.40
l]'ss.42)1.,678.27
(s1.78)
(162.e1)
1,595.56
L23.97
L,678.27
708.77Present Value of obligations at the beginning of the year
Current service cost
Prior Service Cost
lnterest Cost
Re-measurement (gains)/losses:
- Actuarial gains and losses arising from change in financial assumption
- Actuarial gains and losses arising from experience adjustment
Benefits paid
Present Value of obligations at the end of the year
625.30
45.45
7.2L
107.55(162.e1)
518.60
67L.45
46.9L
3.34
100.03(1ss.43)
626.30
Changes in the fair value of planned assets
Fair value of plan assets at beginning of year
lnterest lncome
Acturial Gain/Loss
Contributions from the employerBenefits Paid
Fair Value of plan assets at the end.of the year
1,595.66
618.60
L,O77.05
L678.27
626.3
1051.97
Amounts recognised in the Balance Sheet
Projected benefit obligation at the end of the year
Fair value of plan assets at end of the year
Funded status of the plans - Liability recognised in the balance sheet
Components of defined benefit cost recognised in profit or loss
Current service cost
Net lnterest Expense
Net Cost in Profit or Loss
108.17
77.46
18s.63
135.55
53.81
200.37
Components of defined benefit cost recognised in Other Comprehensive income
Re-measurement on the net defined benefit liability:- Actuarial gains/(losses) due to Demographic Assumption changes in DBO
- Actuarial gains/(losses) due to Financial Changes in DBO
- Actuarial gains/(losses) due to Experience on DBO
- Return on plan assets
Net Cost in Other Comprehensive lncome
(2.38)
(26.s2)
.22.47l,(1.21)
(s2.ss)
(22.sel78.99(3.34)
s3.06
Particular 31.03.2019 31.03.2018
Assumptions:
Discount rate
Expected rate ofsalary increases
Expected rate of attritionAverage age of members
Average remaining working life
Mortality (IALM (2006-2008) Ultimate)
7.75%
6.000/o
5.OO%
39.31
18.69
5%
7.52%
6.OO%
s.o0%
39.38
78.62
5o/o
The Company has invested the plan assets with the insurer managed funds. The insurance company has invested the plan
assets in Government Securities, Debt Funds, Equity shares, Mutual Funds, Money Market lnstruments and Time
Deposits. The expected rate of return on plan asset is based on expectation of the average long term rate of return
expected on investments of the fund during the estimated term of the obligation.
Significant actuarial assumptions for the determination of the defined benefit obligation are discount rate, expected
salary increase and mortality. The sensitivity analysis below have been determined based on reasonably possible changes
of the assumptions occurring at the end of the reporting period, while holding all other assumptions constant. The results
of sensitivity analysis is given below:
Sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation as itis unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be
correlated.
Particular 31.03.2019 31.03.2018
Discount rate+ 100 Basic Points
- 100 Basic Points
Salary growth rate+ 100 Basic Points
- 100 Basic Points
Attrition rate
+ 100 Basic Points
- 100 Basic Points
Mortality rate
+ LO%up
(e3.77)
707.74
(s2.88)
106.32
0.49(0.ss)
0.02
(e4.e2)
108,33
106.19(e4.721
6.09(6.8s)
0.36
Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has been
calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in
calculating the defined benefit obligation liability recognised in the balance sheet.
There was no change in the methods of assumptions used in preparing the sensitivity analysis from prior years
The Company has purchased insurance policy, which is basically a year-on-year cash accumulation plan in which the
interest rate is declared on yearly basis and is guaranteed for a period of one year. The insurance Company, as part of the
policy rules, makes payment of all gratuity outgoes happening during the year (subject to sufficiency of funds under the
policy). The policy, thus, mitigates the liquidity risk. However, being a cash accumulation plan, the duration of assets is
shorter compared to the duration of liabilities. Thus, the Company is exposed to movement in interest rate (in particular,
the significant fall in interest rates, which should result in increase in liability without corresponding increase in the asset)
Expected contributions to the plan for the next annual periods is given below:
C. Note on Provident Fund:
With respect to employees, who are covered under Provident Fund Trust administered by the Company, the Company
shall make good deficiency, if any in the interest rate declared by Trust over statutory Limit. Having regards to the assets
of the Fund and the return on the investments, the company does not expect any deficiency in the foreseeable future.
43 EARNINGS PER SHARE:
Particulars 31.03.2019 31.03.2018
Year-| - 31.03.2020
Year-ll - 31.03.202L
Year-lll - 37.03.2022
Year-lV- 31.03.2023
Year-V - 31.03.2024
145.52
L79.O2
L32.92
10s.09
7L2.95
783.)_3
131.15
122.95
724.65
toz.L5
Particular 31.03.2019 31.03.2018
Basic Earnings per share
Diluted Earnings per share
796.22
796.22
7,774.87
I,\74.87
43.1, Basic Earnings per share
The earnings and weighted average number of equity shares used in the calculation of basic earnings per share are as
follows.
43.2 Diluted Earnings per share
The earnings and weighted average number of equity shares used in the calculation of diluted earnings per share are as
follows.
The weighted average number of equity shares for the purposes of diluted earnings per share reconciles to the weighted
average number of equity shares used in the calculation of basic earnings per share as follows:
4 FINANCIAT INSTRUMENT
44.t Capital ManagementThe Company manages its capital to ensure that the Company will be able to continue as a going concern whilemaximising the return to stakeholders through the optimisation of the debt and equity balance.
Particular Year ended
31.03.2019
Year ended
31.03.2018
Profit after Taxation (Rs.in Lakhs)
Adjustments
Earnings used in the calculation of basic earnings per share
Number of equity shares of Rs.10 each outstanding at the beginning of the year
Add: Equity shares issued/allotted during the year
Revised number of equity shares of Rs. 10 each outstanding at the beginning of theyear
(a) Number of equity Shares of Rs.10 each outstanding at the end of the year
(b) Weighted Average number of Equity Shares
1,L94.33
L,194.33
1,50,000
1,50,000
1,50,000
1,50,000
1,762.37
L,762.3L
1,50,000
1,50,000
1,50,000
1,50,000
Particular Year ended
31.03.2019
Year ended
31.03.2018
Earnings used in the calculation of basic earnings per share
Adjustments
Earnings used in the calculation of diluted earnings per share
L,t94.33
1,794.33
L,762.31
1,762.37
Particular Year ended
31.03.2019
Year ended
31.03.2018
Weighted average number of equity shares used in the calculation of basic earnings
per share
Adjustments
Weighted average number of equity shares used in the calculation of dilutedearnings per share
1,50,000.00
1,50,000.00
1,50,000.00
1,50,000.00
The capital structure ofthe Company consists of net debt and total equity ofthe Company.
44.2 Gearing RatioThe gearing ratio at the end of the reporting period was as follows.
44.3 Category-WiseClassificationOfFinanciallnstruments
Rs. ln lakh
Rs. in lakh
Current
ParticularsAs at March 31,
2019
As at March 31,
20L84702L.88
(se6.e3)45144.39(13ss.6s)
46024.95 43748.74
487s7.94 48739.4L
Debt
Cash and Cash Equivalent
Net Debt
Total Equity
Net Debt to Equity Ratio 0.94 0.90
Non-CurrentPa rticulars
As at
31.03.2019
As at31.03.2018
As at
31.03.2019
As at
31.03.2018
290.79
L,773.O5
1470.34 1469.84
269.30
LO94.94
2815.72
L7226.64
850.94
145.98
79.68
2649.93
t5977.491395.65
148.68
198.09
7,463.84 1364.24 21tt8.96 20369.84
1463.84 L364.24 21118.96 20369.84
t7654.77
345.09
15961.90
338.35
10878.91
1380.34
5907.33
1o702.24
1759.84
4782.70
17999.80 15300.25 78766.57 16644.t8
Financial Assets measured at Fair ValueThrough Profit & toss [FWPI]lnvestment in quoted Equity lnstrumentslnvestment in unquoted Equity lnstruments
Financial assets measured at Amortised Cost
lnvestments
Trade Receivables
Loans
Cash and Cash Equivalents
Other Balances with Banks
Other Financial Assets
Financial Liabilities measured at Fair Value
Through Profit & Loss IFWPL]
Financial Liabilities measured at AmortisedCost
Borrowings
Trade Payables
Other Financial Liabilities
Total
Total
44.4
44.4.L
44.4.2
44.4.3
44.4.4
Fair Value MeasurementsThe following table provides the fair value measurement hierarchy of the Company's Financial Asstes and Liabilities
Quoted prices in an active market (tevel 1):
This level of hierarchy includes financial assets that are measured by reference to quoted prices (unadjusted) in active
markets for identical assets or liabilities. This category consists of investment in quoted equity shares, and mutual fundinvestments.
Valuation techniques with observable inputs (level 2):
This level of hierarchy includes financial assets and liabilities, measured using inputs other than quoted prices included
within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived fromprices). This level of hierarchy includes Company's over-the-counter (OTC) derivative contracts.
Valuation techniques with significant unobservable inputs (Level 3):
Valuation techniques with significant unobservable inputs (Level 3): This level of hierarchy includes financial assets and
liabilities measured using inputs that are not based on observable market data (unobservable inputs), Fair values are
determined in whole or in part, using a valuation model based on assumptions that are neither supported by prices from
observable current market transactions in the same instrument nor are they based on available market data.
Financial lnstrument measured at Amortised Cost:
The carrying amount of financial assets and financial liabilities measured at amortised cost in the financial statements are
a reasonable approximation of their fair values since the Company does not anticipate that the carrying amounts would
be significantly different from the values that would eventually be received or settled.
44.5 Financial risk management objectives
The Company's Corporate finance department provides services to business, co-ordinates access to domestic and
international financial markets, monitors and manages the financial risks relating to the operations of the Company
through internal risk reports which analyse the exposures by degree and magnitude of risks. These risks include market
risk (including currency risk, interest rate risk and other price risk), credit risk and liquidity risk.
The Company seeks to minimize the effects of these risks by using derivative financial instruments to hedge risk
exposures. The use of financial derivatives is governed by the Company's policies approved by the Board of Directors,
which provide written principles on foreign exchange risk, interest rate risk, credit risk, the use of flnancial derivatives
and non-derivative financial instruments, and the investment of excess liquidity. Compliance with policies and exposure
limits is reviewed by the Management and the internal auditors on a continuous basis. The Company does not enter into
or trade financial instruments, including derivatives for speculative purposes.
The Corporate Treasury function reports quarterly to the Company's risk management committee, an independent body
that monitors risks and policies implemented to mitigate risk exposures.
44.5.L Market Risk
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in
market prices. Market risk comprises three types of risks: interest rate risk, currency risk and other price risk. Financial
instruments affected by market risk includes borrowings, investments, trade payables, trade receivables, loans and
derivative fi nancial instruments.
44.5.2 Foreign currency exchange rate riskThe fluctuation in foreign currency exchange rates may have potential impact on the income statement and equity,
where any transaction references more than one currency. The Company evaluates the impact of foreign exchange rate
fluctuations by assessing its exposure to exchange rate risks.
44.5.3 Credit Risk
Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet
its contractual obligations, and arises principally from the Company's receivables from customers and investment
securities. Credit risk arises from cash held with banks and financial institutions, as well as credit exposure to clients,
including outstanding accounts receivable. The maximum exposure to credit risk is equal to the carrying value of thefinancial assets. The objective of managing counterparty credit risk is to prevent losses in financial assets. The Company
assesses the credit qr,rality of the counterparties, taking into account their financial position, past experience and other
factors.
44.5.4 Credit risk managementThe Company does not have significant credit risk exposure to any single counterparty. Concentration of credit risk
related to the above mentioned company did not exceed LOYo of gross monetary assets at any time during the year.
Concentration of credit risk to any other counterparty did not exceed LO% of gross monetary assets at any tirne during
the year.
The Company's exposure to credit risk is influenced mainly by the individual characteristics of each customer. The
demographics of the customer, including the default risk of the industry and country in which the customer operates,
also has an influence on credit risk assessment.
44.5.5 Liquidity riskLiquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The
Company manages its liquidity risk through credit limits with banks.
The Company's corporate treasury department is responsible for liquidity, funding as well as settlement management. In
addition, processes and policies related to such risks are overseen by senior management.
The liquidity position of the Company is given below:
ParticularsAs at March 31,
2019As at March 31,
2018
Cash and Cash Equivalents 850.94 1,395.55
The table below provides details regarding the contractual maturities of significant financial liabilities as at March 31,
2019, March 3t,20LBRs. ln
44.5.6 lnterest Rate Risk
lnterest rate risk is measured by using the cash flow sensitivity for changes in variable interest rates. Any movement in
the reference rates could have an impact on the Company's cash flows as well as costs. The Company is subject to
variable interest rates on some of its interest bearing liabilities. The Company's interest rate exposure is mainly related to
debt obligations.
44.5.7 lnterest Rate Sensitivity Analysis
lf interest rates had been LYo higher and all other variables were held constant, the company's profit for the year ended
would have impacted in the following manner:
ParticularsYear Ended
31.03.2019
Year Ended
31.03.2018
lmpact on Profit or (Loss) for the year 306.68 294.65
INFORMATION ON RETATED PARTY TRANSACTTONS AS REQUIRED BY INd AS- 24 - ,REIATED PARTY DISCLOSURES, FOR
THE YEAR ENDED 31.03.2019
45.L Name of Related Parties and nature of relationship:
Key Management Personnel (KMP) Executive Directors:
M Harihara Sudhan
le Time Directors
M Radha Akilandeswari
M Manickam
Non-Executive Directors
M Balasubramaniam
M Srinivaasan
Murugaiyan
45
less than
1 Year1.2 Years
2 Years
and aboveAs atParticulars
18,879.94
18,410.95
1,380,34
1,760.90
408.71
501.64
4,340,54
3,245,41
10,811,75
9,436,30
34s.09
338.35
Trade Payables
0ther financial liabilities
Borrowings March 31, 2019
March 31, 2018
March 31,2019
March 31,2018
March 31,2019
March 31,2018
B T Two Wheeler Pvt LtdSubsida
M Chenniappan
45.2
45.2.L
Chief Executive Officer:N Shanmuga Sundaram
Company Secretary:
S. Elavazhagan
Note : Related party relationships are as identified by the management and relied upon by the auditors.
Transaction with Related Parties:
Key management personnel compensation
Smt Karunambal Vanavarayar
Smt Gauri Manickam
Ms.Sivakami Rukmani Samyuktha
Ms.Akilandeswari Subha ShruthiMr.Vishnu Nachimuthu
Ms.Bhavani Rukmani
Ms.Shivani Radha Mani
Ramkumar Giri
Relatives of KMP
ABT lndustries Ltd
Anamallais Bus Transport Pvt. Ltd
Nachimuthu lndustrial Association
ARC Retreading Company Pvt. Ltd
The Anamallais Retreading Corporation
N Mahalingam & Co.,
ABT info systems pvt. ltd
Sakthi Sugars Limited
Sakthi Auto Component Limited
Anamallais Engineering Pvt Ltd
ABT Madras Private Limited
ABT Maduri Private Limited
ABT Transports Private limited
Sri Bhagavathi Textiles Limited
ABT Textiles Private Limited
ABT lnvestments lndia Private Limited
Caresoft Global Private Limited
Other entities over which there is a
significant influence
Particulars Year ended
31.03.2019
Year ended
31.03.2018
Employee share-based payment
Short-term employee benefits 1s3.70 2L3.26
Post-employment benefitsTotal Compensation 153.70 2t3.26
Remuneration / sitting fees to Non-Executive and lndependent Directors 2.45 4.00
45.2.2 Details of Related Party transactions during the year ended 31st March, 2019 and Balances Outstanding as at
31.03.2019:
ARC Retreading Priwte Limited
Nachimuthu lndustrial Association
N Mahalingam and Company
ABTlndustriesLimited
Sakthi Thiranalayam
Anamalai Engineering Private Limited
A B T lnfo System Priraate Limited
Sakthi Auto Components Limited
Sakthi Sugars Limited
Sakthi Finance Limited
N Mahalingam & Co.,
ABTlndustriesLimited
Nachim uthu lndustrial Association
Sitting Fees
Sakthi Sugars Limited
ABT (Madras) Priwte Limited
ABT lnrrestment (lndia) Private Limited
!8.76(22.67)
22.49(21-.2s)
3.06(3s.e3)
3.42(6.621
18.04
(11.e6)
2.26(2.O7)
4.60(14.06)
7.10(1.51)
57.67(87.13)
o.28(0.06)
13.01
7.to(1.61)
57.67(87.13)
o.28(0.05)
13.01
0.56(0.31)
1.85( 1.13)
1,193.95(1,072.23)
Ml.Ot(7e3.s0)
330.60(301.1s)
t8.76
.22.67)22,.49
(21..2s)
3.06(3s.e3)
3.42(6.62)
18.04(11.e6)
2.26(2.07)
4.@(14.06)
Sales
0.55(0.31)
1.8s(1.13)
24.45
l22.Ql
2.45(4.0o)
2.45(4.0o)
1,793.96(L,O72.23)
ML,O7(7e3.so)
330.60(301.1s)
24.45(22.N)
TotalSubsidaryCompany
KeyManagement
Personne!
Enterprises inwhich
KMP/relativesof influence
Nature of Transactions
A B T Two wheeler Priwte Limited
Rent lncome
Sakthi Sugars Limited
Sakthi Sugars Limited
Nachimuthu lndustrial Association
Nachimuthu lndustrial Association
Sakthi Sugars Limited
ABT (Madras) Priwte Limited
- M Manickam, Chairman
-M Harihara sudhan
-M Radha Akilandeswari
-N Shanmugasundram CEO
Loans and advances to Related Parties
ABT lnvestments (lndia) Private Limited
Anamallais Bus Transport Private Limted
Sakthi Sugars Limited
Sri Bhagavathi Textiles Limited
ABT lnfo Systems Private Limited
Caresoft Global Private Limited
Anamal lais Retrading Corporation
274.59(201.e6)
62.29(43.04)
s3.42(31.s8)
8.78( 11.ss)
tt7.t5(13.s0)
2.40(2.40)
(s01.04)
5.65(s.se)
63.0O
( L0.10)
48.76
(so.se)
3,650.07(3,551.25)
t!3.97(tLz.62l
r.0,653.02(9,502.39)
(74s.80)
4.60(14.06)
(s31.6s)
35.45(3s.44)
7L7,L5(13.s0)
2.40(2.4o1
(so1.04)
5.66(s.se)
63.00(10.10)
48.76(so.se)
274.59(201.e6)
62.29(43.04)
53.42
(31.s8)
8.78(11.ss)
3,650.O7(3,551.25)
]-L3.97(712.62)
1o,663.O2
(9,502.39)
(74s.80)
4.60(14.06)
(s31.5s)
35.45(3s.44)
ABT (Madras) Private Limited
A B TTwo wheeler Private Limited
Loans and Advances from Related Parties
Sri Ramkumar Giri
Nachi muthu I ndustrial Association
Anamal lais Retradi nig Corporation
ABT Transport Private Li mited
ABT lnfo Systems Private Limited
Sri Bhagavathi Textiles Limited
Trade Pavables
N Mahalingam & Co.
ABT lnfo Systems Private Limited
Nachi muthu lndustrial Association
Sakthi Thiranalayam
ARC Retrading Company Private Limited
Anamallais Engineering Private Limited
The Gounder & Co.,
Sakthi Sugars Limited
ABT lndustries Limited
L,249.LO
(L,197.53)
L82,L(L,t41..7t)
57.39(s7.3s)
7.O7
(1.04)
58.29(31.13)
M2.25
2,37]-.44(4e40.3e)
374.68(283.6s)
2,37L.M(4,94O.39l-
3L4.68(283.6s)
L,249.LO
(\,797.53)182.LO
(L,74!.17)57.39
(s7.3e)
t,o7(1.04)
58.29(31.13)
42.25
19.51(zs.78l
4.65(14.30)
6.55(6.06)
6.47(2.s3)
1,5.34
(te.2r)7.O8
(13.04)
L.23(s.03)
1.75(o.72',)
0.13(3.se)
19.51
.29.78!,4.65
(14.30)
6.65(6.06)
6.41(2.s3)
L5.34
lLe.2t)7.O8
(13.04)
L.23(s.03)
1.75(o.72l,
0.13(3.ss)
46 SEGMENT REPORTING
Basis of Segmentation:
Factors used to identify the reportable segmentsl
The Company has following business segments, which are its reportable segments. These segments offer differentproducts and services, and are managed separately because they require different technology and production processes,
Operating segment disclosures are consistent with the information provided to and reviewed by the chief operating
decision maker.
Note:-a. lnformation has been furnished with respect to individuals/entities with whom/which related party
b.F res in b rousertain to
i
Revenue and expenses directly attributable to segments are reported under each reportable segment. Other expenses
and income which are not attributable or allocable to segments have been disclosed as net un-allocable
expenses/income.
Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment.
All other assets and liabilities are disclosed as un-allocable.
Operating segments represent also and therefore, separate disclosure of revenue from major products is not made.
lnter segment Transfer Pricing:
lnter Segment prices are normally negotiated amongst the segments with reference to cost, market prices and business
risks, within an overall optimisation objective for the enterprise.
46.1, Operating Segments revenue and results:
External Customers
lnter-Segmental Sales
0perating lncome
lncome
lncome 2,184.66 2,224.60 2,184.66 2,224,60
Unallocated
(Net)
I Non -0perating income
Revenue
and nonoperating
before Tax
Co$
& Amodhation
Les: lncome-tax-
Current Tax
Defened Tax
Tu
Net Profit/toss after Tu
10,355.28 10,379.97 79,781.00 75,829.45 1,202.97 1,545.87
3,039.73 1,070.70
7,941.58 6,157.82
3,039.73
5,224.39
99,281.83
1,070.70
1,070.70
93,913,11
10,520.11 10,399.08 75,330.13
72,06 70.59
3,450.87
1,498.16
72,614.77 289.14 298.48 5,092.59 4,324.56 92,231.97 87,636.89
(1e.11) 3,214.68
1,251.90
913,83
290,08
1,241,39
291,42
2,848,99
L,7M.4l
1,395.42
850.39
1,833,26
1,552,28
1,365.47
7,049,85
3,604,73
1,395.42
6,276,22
3,277,19
1,365.47
(s,o1l
885.35
45.58
850.39
855.38
1,194.33
885.35
45.68
931.03
702,53L,952.71 t,962.78 62t.75 954.97 (1,145,24) (2,125,52)
Reportable Segment Products/Service
PARCEL SERVICE
MARUTI
WIND ENERGY
GOODS TRANSPORT
MARUTI CAR SALES, SERVICE
POWER GENERATION THROUGH WIND POWER
WIND ENERGY OTHERS TotalPARCEL MARUTI
2019 2018 2019 20182018 2019 2018 2019 20182019
1,543,05
2.82
2,717.19 3,922.78
10,44
94,055.35
2.09
91,504,17
184,34
10,356.28 10,208,89
171.08
i9,781.00 75,829.45 1,200,88
2,09
1,545,87 2,7fi.19 3,933.22 94,057.44 91,688.5110,356.28 L0,379.97 79,781.00 75,829.45 7,202.97
a
t'a
3,305.18 3,578.99 39,793.57 38,265.65 798.55 t,255.32 53,048.43 50,731.33 96,945.73 93,833,30
lnformationr
Asets
Unallocated Corporate Assets
Assets
Liabilities
located Corporate Liabilities
[iabilities
Expenditure
95,945,73
96,945.73 93,833.30
93,833.30
3,305,18 3,578.99 38,2ffi.66 798.55 1,256.32 53,048.43 50,731,3319,793.57
79.45
8s.25
245.78
75.85
L,079.41
884.85
678.31
887.31
7.81
336,44
35.67
84,67
363.26
65,86
95,945.73
1,795.57
1,395.42
93,833,30
t,294.66
1,365.47
1.04
& Amortization 340.64
46.2 Geographical information
The Company operates in single reportable Geographical Segment
46.4 There is no transactions with single external customer which amounts to 10% or more of the Company's revenue.
As per our Report of event dateForPKNagarajan&CoChartered AccountantsFirm Registration No.: 0166765
anPa erMembership No.: 025679U Dl N : L9O25679AAAAAP497 6
CoimbatoreSeptember 04,20L9
For and on Beh of Board
ManickamChairman
DIN 23
P
'lh;S ElavazhagaCompany rY
SudhanExecutive Director
DIN 02459414