| |
|
|
|
|
|
|
|
|
|
|
SCHEDULE
|
AS AT 31ST MARCH
2009
|
AS AT 31ST MARCH 2009
|
| |
|
RS.
|
RS.
|
RS.
|
RS.
|
| I. SOURCES
OF FUNDS: |
|
|
|
|
|
| SHARE CAPITAL
|
1
|
150,000,000
|
|
150,000,000
|
|
| TOTAL |
|
|
150,000,000
|
|
150,000,000
|
| |
|
|
|
|
|
| II. APPLICATION
OF FUNDS: |
|
|
|
|
|
| 1. FIXED
ASSETS |
|
|
|
|
|
| a) GROSS
BLOCK |
2
|
133,921,619
|
|
136,981,317
|
|
| b) LESS:
DEPRECIATION |
|
13,690,767
|
|
11,742,586
|
|
| c) NET
BLOCK |
|
|
120230852
|
|
125,238,731
|
| |
|
|
|
|
|
| 2. INVESTMENTS
|
3
|
|
0
|
|
0
|
| |
|
|
|
|
|
| 3. CURRENT
ASSETS,LOANS & ADVANCES: |
|
|
|
|
|
| a) CASH
& BANK BALANCES |
4
|
2,794,072
|
|
932,365
|
|
| b) OTHER
CURRENT ASSETS |
5
|
9,498,926
|
|
9,035,867
|
|
| c) LOANS
& ADVANCES |
6
|
2,039,539
|
|
1,746,111
|
|
| |
|
14,332,537
|
|
11,714,343
|
|
| LESS: CURRENT
LIABILITIES & PROVISIONS :- |
|
|
|
|
|
| a) LIABILITIES
|
7(a)
|
1,687,550
|
|
2,123,317
|
|
| b) PROVISIONS
|
7(b)
|
0
|
|
|
|
| |
|
1,687,550
|
|
2,123,317
|
|
| NET CURRENT
ASSETS |
|
|
12,644,987
|
|
9,591,026
|
| |
|
|
|
|
|
| PROFIT &
LOSS ACCOUNT - DEBIT BALANCE |
|
|
17,124,161
|
|
15,170,243
|
| |
|
|
|
|
|
| SIGNIFICANT
ACCOUNTING POLICIES |
11
|
|
|
|
|
| & NOTES
TO ACCOUNT |
|
|
|
|
|
| TOTAL
|
|
|
150,000,000
|
|
150,000,000
|
|
|
|
Schedules referred to above form an
integral part of the Balance Sheet
|
| |
|
|
|
|
|
|
As per our attached Report of
even date
|
On behalf of the Board of Directors
|
For
G.BASU & CO.
Chartered Accountants
|
N Das
Director & Chairman
(Audit Committee)
|
|
|
Udayan Ray
Director
|
|
|
|
Rajive Kaul
Chairman
|
|
|
|
Manoj Kumar Das
Parter (M No. 013783)
Basu House, 3, Chowringhee Approach
KOLKATA - 700 072
|
|
|
Dated the 19th day of May,2010
|
|
|
|
|
PROFIT & LOSS ACCOUNT FOR THE PERIOD
ENDED 31ST MARCH' 2010.
|
|
REVENUE
|
SCHEDULE |
FOR YEAR ENDED 31ST
MARCH ,2010
(RS.)
|
FOR YEAR ENDED 31ST MARCH ,2009
(RS.)
|
|
Other Income
|
8
|
3,450,282
|
3,804,557
|
|
|
|
|
|
|
Total
|
|
3,450,282
|
3,804,557
|
|
|
|
|
|
|
EXPENDITURE :
|
|
|
|
|
Expenses on Employees
|
9
|
0
|
139,980
|
| Selling
& Administration Expenses |
10
|
2,063,590
|
3,677,388
|
| |
|
|
|
| |
|
2,063,590
|
3,817,368
|
| GROSS PROFIT/(LOSS)
: |
|
1,386,692
|
-12,811
|
| |
|
|
|
| CASH PROFIT/(LOSS)
: |
|
1,386,692
|
-12,811
|
| Less: Depreciation
|
|
3,495,599
|
3,903,958
|
| PROFIT/(LOSS)
BEFORE TAXATION : |
|
-2,108,907
|
-3,916,769
|
| Add: Adjustment
of Interest (Prior Period) |
|
154,989
|
154,989
|
| Less: Provision
for Taxation |
|
0
|
0
|
| |
|
|
|
| PROFIT/(LOSS)
AFTER TAXATION : |
|
-1,953,918
|
-4,071,758
|
| Less: Fringe
Benefit Tax |
|
0
|
21,969
|
| |
|
|
|
| Profit/(Loss)
Available after Fringe Benefit Tax |
|
-1,953,918
|
-4,093,727
|
| Add: Profit/(loss)
Brought Forward |
|
-15,170,243
|
-11,076,516
|
| |
|
|
|
| Balance
carried forward to Balance Sheet |
|
-17,124,161
|
-15,170,243
|
| |
|
|
|
| Earning
per share(Basic) |
|
(0.21)
|
(0.43)
|
| Earning
per share(Diluted) |
|
(0.21)
|
(0.43)
|
| |
| Schedules
referred to above form an integral part of the Profit
& Loss Account. |
| |
|
|
|
|
As per our attached Report of
even date
|
On behalf of the Board of Directors
|
For
G.BASU & CO.
Chartered Accountants
|
N Das
Director & Chairman
(Audit Committee)
|
|
|
Udayan Ray
Director
|
|
|
|
Rajive Kaul
Chairman
|
|
|
|
Manoj Kumar Das
Parter (M No. 013783)
Basu House, 3, Chowringhee Approach
KOLKATA - 700 072
|
|
|
Dated the 19th day of May,2010
|
|
| |
|
CASH FLOW STATEMENT for the period
ended 31st March, 2010.
|
| |
|
P A R T I C U L A R S
|
Period ended
31.03.2010
|
Period ended 31.03.2009
|
|
A. CASH FLOW FROM OPERATING ACTIVITIES
|
|
|
|
Net Profit before Tax & Extra-Ordinary
items
|
(2,108,907)
|
(3,916,769)
|
|
|
|
|
|
Adjusted for -
|
|
|
|
Depreciation Charged to Profit & Loss
Account
|
3,495,599
|
3,903,958
|
|
Profit on sale of Assets (Net)
|
-
|
-
|
|
Profit on sale of Investments (Net)
|
|
(662,194)
|
|
Sale of Investment
|
|
-
|
|
Interest on Investments
|
|
-
|
|
Miscellaneous Expenses Prior period
|
154,989
|
-
|
|
Sub Total
|
3,650,588
|
3,241,764
|
|
|
|
|
|
Operating Profit before working Capital
Changes
|
1,541,681
|
(675,005)
|
|
Changes in Working Capital
|
|
|
|
(Increase)/Decrease in Trade & Other
Receivables
|
(756,487)
|
(3,694,794)
|
|
(Increase)/Decrease in Inventories
|
|
|
|
Increase/(Decrease) in Trade Payables
|
(435,767)
|
(2,771,574)
|
|
Net Changes in Working Capital
|
(1,192,254)
|
(6,466,368)
|
|
Cash generated from Operations
|
349,427
|
(7,141,373)
|
|
Direct Tax (Net)
|
|
|
|
Cash Flow before Extra-Ordinary items
|
349,427
|
(7,141,373)
|
|
CASH FLOW FROM OPERATING ACTIVITIES
|
349,427
|
(7,141,373)
|
|
|
|
|
|
B.CASH FLOW FROM INVESTING ACTIVITIES
|
|
|
|
Purchase of Fixed Assets
|
-
|
(1,227,751)
|
|
Sale of Fixed Assets
|
1,512,280
|
|
|
Purchase of Investment (Net)
|
|
|
|
Sale of Investment (Net)
|
-
|
5,662,194
|
|
Profit on Sale of Investment (Net)
|
|
-
|
|
Interest Received
|
|
(154,989)
|
|
NET CASH FROM INVESTING ACTIVITIES
|
1,512,280
|
4,279,454
|
|
|
|
|
|
C. CASH FLOW FROM FINANCING ACTIVITIES
|
|
|
|
Proceeds of Equity Shares Application
Money
|
|
|
|
Proceeds of Preferance Shares Application
Money
|
|
|
|
Increasing in Borrowing (Net)
|
|
|
|
Preliminary & Share Issue Expenses
|
|
|
|
Interest Paid
|
|
|
|
Tax Paid
|
-
|
(21,969)
|
|
NET CASH FROM FINANCING ACTIVITIES
|
-
|
(21,969)
|
|
|
|
|
|
NET CHANGES IN CASH / CASH EQUIVALENTS
(A+B+C)
|
1,861,707
|
(2,883,888)
|
|
Cash & Cash Equivalents - Opening Balance
|
932,365
|
3,816,253
|
|
Cash & Cash Equivalents - Closing Balance
|
2,794,072
|
932,365
|
| THE SCHEDULES
REFERRED TO ABOVE FORM AN INTEGRAL PART OF THE BALANCE
SHEET |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For G.Basu & Co.
Chartered Accountants
R. No. 301174E
|
On behalf of the Board of Directors
|
|
|
N Das
Director & Chairman
(Audit Committee)
|
|
|
|
|
|
Udayan Ray
Director
|
|
|
|
|
|
Rajive Kaul
Chairman
|
|
Manoj Kumar Das
Parter (M No. 013783)
Basu House
3 Chowringhee Approach
Kolkata -700 072
Dated the 19th day of May,2010
|
|
|
|
| |
| |
|
SCHEDULES TO THE BALANCE SHEET
|
|
(SCHEDULE - 1)
SHARE CAPITAL :
|
AS AT 31ST
MARCH '2010
(RS.)
|
AS AT 31ST
MARCH'2009
(RS.)
|
| I. AUTHORISED:
|
|
|
| 550,000
0% (550,000) Redeemable Preferance Shares of Rs. 100/-
each
|
55,000,000
|
55,000,000
|
|
|
|
|
|
10,500,000 (10,500,000) Equity Shares of Rs. 10/- each
|
105,000,000
|
105,000,000
|
| T O T
A L
|
160,000,000
|
160,000,000
|
| II. ISSUED
& SUBSCRIBED :-
|
|
|
|
|
|
|
| 550,000
(550,000) 0% Redeemable Preferance Shares of Rs. 100/-
each
|
|
|
|
(550,000 (550,000) Preferance Shares
of Rs. 100/- each held by Nicco Corporation Ltd., the
holding Company, to be redeemed in three annual installments
commencing from 21st July 2015).
|
55,000,000
|
55,000,000
|
|
|
|
|
| 9,500,000
(9,500,000) Equity Shares of Rs. 10/- each
|
|
|
| 7,200,000
(7,200,000) Equity Shares of Rs. 10/- each held by Nicco
Corporation Ltd., the holding Company, & 300,000 (300,000)
Equity Shares held by Nicco Engineering Services Ltd.,
a wholly owned subsidiary of the holding Company).
|
95,000,000
|
95,000,000
|
|
T O T A L
|
150,000,000
|
150,000,000
|
| NOTE :
|
|
|
| 1) 550,000
Preferance Shares of Rs. 100/- each where allotted as
fully paid up, pursuant to the Agreement for Assignment,
for consideration other than cash.
|
|
|
| 2) 7,200,000
Equity Shares of Rs. 10/- each were allotted as fully
paid up, pursuant to the Agreement for Assignment, for
consideration other than cash.
|
|
|
|
|
|
SCHEDULE TO THE BALANCE SHEET AS
AT 31st MARCH,2010.
|
|
SCHEDULE - 2 |
| FIXED
ASSETS |
GROSS BLOCK
|
DEPRECIATION / AMORTISATION
|
NET BLOCK
|
| PARTICULARS
OF ASSETS |
COST AS AT 31.3.2009
|
ADDITIONS DURING THE PERIOD
|
SOLD/ADJUSTED DURING THE PERIOD
|
GROSS BLOCK AS ON 31.03.2010
|
TOTAL AS ON 31.3.2009
|
PROVIDED DURING THE PERIOD
|
SOLD/DISCARDED DURING THE PERIOD
|
TOTAL AS AT 31.03.2010
|
AS AT 31.03.2010
|
AS AT 31.3.2009
|
|
| LEASEHOLD
LAND @ |
42,935,549
|
|
|
42,935,549
|
814,562
|
407,281
|
|
1,221,843
|
41,713,706
|
42,120,987
|
| BUILDING
|
77,931,168
|
-
|
|
77,931,168
|
6,141,609
|
1,270,278
|
|
7,411,887
|
70,519,281
|
71,789,559
|
| ELECTRICAL
EQUIPMENTS |
14,378,300
|
|
2,400,000
|
11,978,300
|
4,270,128
|
1,666,182
|
1,168,440
|
4,767,870
|
7,210,430
|
10,108,173
|
| MOTOR
VEHICLES |
659,698
|
|
659,698
|
-
|
342,787
|
36,191
|
378,978
|
-
|
-
|
316,911
|
| AIR
CONDITIONER |
528,900
|
|
|
528,900
|
110,355
|
73,570
|
|
183,925
|
344,975
|
418,545
|
| FURNITURE
& FIXTURE |
449,717
|
|
|
449,717
|
42,701
|
28,467
|
|
71,168
|
378,549
|
407,016
|
| OFFICE
EQUIPMENT |
97,985
|
|
|
97,985
|
20,445
|
13,630
|
|
34,075
|
63,910
|
77,540
|
| SUB
TOTAL |
136,981,317
|
-
|
3,059,698
|
133,921,619
|
11,742,587
|
3,495,599
|
1,547,418
|
13,690,768
|
120,230,851
|
125,238,731
|
| PREVIOUS
YEAR |
135,753,566
|
1,227,751
|
|
136,981,317
|
7,838,628
|
3,903,958
|
|
11,742,586
|
125,238,731
|
|
| |
| @
Consists of:- |
| Leasehold
Land - 40,033,239 - 99 years lease |
| Leasehold
Land - 1,344,648 - 999 years lease |
| Leasehold Land
- 1,557,662 - 999 years lease |
| |
| |
|
SCHEDULE - 4
|
|
CASH & BANK BALANCES :
|
AS AT 31ST
MARCH '2010
(RS.)
|
AS AT 31ST MARCH'2009
(RS.)
|
|
CASH IN HAND
|
2,516
|
174
|
|
WITH SCHEDULED BANKS-
|
|
|
|
ON CURRENT ACCOUNT (Canara Bank)
|
492,884
|
633,519
|
|
ON F/D ACCOUNT WITH CANARA BANK
|
2,000,000
|
0
|
|
ON MARGIN DEPOSIT WITH ALLAHABAD BANK
|
298,672
|
298,672
|
|
T O T A L
|
2,794,072
|
932,365
|
|
|
|
SCHEDULE-5
|
AS AT 31ST
MARCH '2010
(RS.)
|
AS AT 31ST MARCH'2009
(RS.)
|
|
OTHER CURRENT ASSETS (UNSECURED CONSIDERED
GOOD)
|
|
|
|
|
|
OTHER ACCOUNTS - NERT
|
9,498,926
|
9,035,867
|
|
(A/C Nicco Institute of Biotechnology)
|
|
|
|
|
|
|
|
TOTAL
|
9,498,926
|
9,035,867
|
|
|
|
SCHEDULE - 6
|
AS AT 31ST
MARCH '2010
(RS.)
|
AS AT 31ST MARCH'2009
(RS.)
|
| LOANS
& ADVANCES (UNSECURED, CONSIDERED GOOD) : |
ADVANCES RECOVERABLE IN CASH OR IN
KIND OR FOR VALUE
TO BE RECEIVED OR PENDING ADJUSTMENTS
|
|
|
|
PREPAID EXPENSES
|
20,070
|
28715
|
|
DEPOSIT WITH WBUT-Recoverable from
NIBT
|
1,000,000
|
1,000,000
|
|
DEPOSIT WITH WBSEB
|
160,300
|
160,300
|
|
DEPOSIT WITH NERT
|
1,000
|
1,000
|
|
Elec. Charges Receivable
|
136,073
|
--
|
| ADVANCE
TAX ON FBT |
4,001
|
50,833
|
| TDS RECEIVABLE
|
718,095
|
505,263
|
|
TOTAL
|
2,039,539
|
1,746,111
|
|
|
|
SCHEDULE - 7
|
AS AT 31ST
MARCH '2010
(RS.)
|
AS AT 31ST MARCH'2009
(RS.)
|
|
CURRENT LIABILITIES & PROVISIONS
:
|
|
a) CURRENT LIABILITIES
|
|
|
|
I) OTHER LIABILITIES
|
|
1,399,945
|
|
ii) TDS FROM CONTRACTOR
|
0
|
|
|
iii)CURRENT ACCOUNT WITH HOLDING COMPANY:-
|
|
|
|
Nicco Corporation Ltd.
|
786,715
|
672,038
|
|
|
1,687,550
|
2,071,983
|
|
b) PROVISIONS
|
|
|
|
FOR FBT (Net of advance 55335/-,prev.year
50833/-)
|
|
51,334
|
|
Liability for Service Tax
|
0
|
|
|
TOTAL
|
1,687,550
|
2,123,317
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| SCHEDULE
- 8 |
FOR PERIOD ENDED
31ST MARCH ,2010
Rs.
|
FOR PERIOD ENDED 31ST MARCH ,2009
Rs.
|
| OTHER
INCOME: |
|
|
| Other Income
- Rent |
1,303,320
|
3,102,490
|
| (TDS Deductible
Rs. 2,12,832/- Prev.Year 5,05,263/- ) |
|
|
| Profit on
sale of Investment |
0
|
662,194
|
| Service
Tax on Rent Income |
0
|
|
| Other Income
(Elec.Installation exps. From Shurjo) |
2,146,962
|
39,873
|
| |
|
|
|
T O T A L
|
3,450,282
|
3,804,557
|
|
|
| SCHEDULE
- 9 |
|
EXPENSES ON EMPLOYEES :
|
FOR PERIOD ENDED
31ST MARCH ,2010
Rs.
|
FOR PERIOD ENDED 31ST MARCH ,2009
Rs.
|
|
Salaries & Wages
|
0
|
139,980
|
|
|
|
|
|
T O T A L
|
0
|
139,980
|
|
|
|
SCHEDULE - 10
|
|
SELLING & ADMINISTRATIVE EXPENSES
:
|
FOR PERIOD ENDED
31ST MARCH ,2010
Rs.
|
FOR PERIOD ENDED 31ST MARCH ,2009
Rs.
|
|
Service Tax on Rent Income
|
0
|
|
|
Consultancy Fees
|
111,000
|
343,354
|
|
Audit fee
|
19,854
|
|
|
Travelling & Conveyance
|
2,299
|
34,044
|
|
Bank Charges(Including guarantee charges)
|
58,552
|
9,330
|
|
Advertisement
|
851
|
17,833
|
|
Electricity Charges
|
480,712
|
841,204
|
|
Directors' Fees
|
14,000
|
34,000
|
|
Insurance
|
15,988
|
|
|
Rent , Rates & Taxes
|
551,214
|
570,708
|
|
Retainership Fees
|
0
|
50,000
|
|
Security Services
|
726,220
|
1,453,946
|
|
Telephone & Fax
|
3,376
|
14,425
|
|
Miscellaneous Expenses
|
62,244
|
209,542
|
|
Loss on sale of Assets
|
17,280
|
0
|
|
T O T A L
|
2,063,590
|
3,677,388
|
| |
|
