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ANNUAL REPORT 2012-13

Board of Directors

Auditor
T.K. Kuruvilla, Kottayam

G.J. Ancheril

- Whole-time Director

Mary Alex

- Whole time Director

Solicitor
Joseph & Markos, Kottayam

Alex George
Company Secretary
Thomas P. Chacko, Cochin

A.V. George
Cdr Mani Thomas

Bank
Syndicate Bank

Thommen T. Kuruvilla

Registered Office
Ancheril Bank Buildings
Post Box No.1
Kottayam - 686 001.
Kerala

Contents
Page
Directors report

2-3

Secretarial Compliance Certificate

4-5

Auditors report

6-10

Balance Sheet as at March 31, 2013

11

Profit and Loss Account for the year ended March 31, 2013

12

Cash Flow Statement for the year ended March 31, 2013

13

Notes to the financial statements

14-27

DIRECTORS REPORT

THE KAILAS RUBBER COMPANY LIMITED

To the members of The Kailas Rubber Company Limited


The Directors have pleasure in presenting the Annual Report and the audited accounts of The Kailas Rubber
Company Limited for the year ended March 31, 2013.
Performance
The total rubber production decreased by 4% during the current year from 3.36 lakhs kgs to 3.23 lakhs kgs . This
was occasioned by stoppages in rubber tapping at the Paalali estate on account of labour strikes . The turnover
decreased from Rs 8.81 crores to 7.78 crores during 2012-13. The average sales realization during the current year
was Rs 169.39 per kg compared to Rs 193.68 per kg in the previous year . The Income from slaughter tapping
also increased from 85 lakhs in the previous year to Rs 1.35 crores during the current year .The profit before tax
decreased during the period under review from 5.94 crores to 4.33 crores
.
The summarised results of the Company are given below:
2012 13
2011 - 12
Rs.
Rs.
Total Revenue

7,77,93,900

8,81,73,900

Profit before taxation


Provision for taxation
Taxation adjustments of previous years (net)
Profit after taxation
Profit and loss account balance as at April 1, 2012
Amount available for appropriations

4,33,63,500
(34,28,000)
18,700
3,99,54,200
17,04,51,200
21,04,05,400

5,94,39,800
(29,05,000)
2,32,200
5,67,67,000
11,60,44,200
17,28,11,200

Appropriation
Transfer to General Reserve during the year
Dividend on equity
PROFIT AND LOSS ACCOUNT
BALANCE AT MARCH 31, 2013

(56,80,000)
(39,17,100)
20,08,08,300

(23,60,000)
____-____
17,04,51,200

Future prospects
The Company expects the rubber prices to remain steady during the year .The Company replanted 32 hectares in
Kutikul estate during the year under review and is planning to replant 9 hectares in the Paalali estate during the
coming year
Dividend
The Directors recommend a dividend of Rs 20 per share. The dividend , together with the corporate income tax on
distributed profit will absorb a sum of Rs 45,82,800/-.

Directors responsibility statement


-2-

THE KAILAS RUBBER COMPANY LIMITED


In compliance of Section 217 (2AA) of the Companies Act, 1956 as amended by the Companies (Amendment) Act,
2000, the Directors of the Company confirm:
-

that the applicable accounting standards have been followed in the preparation of final accounts and that there
have been no material departures from there standards

that such accounting policies have been selected and applied consistently and such judgements and estimates
made are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at
March 31, 2012 and of the profit of the Company for the year ended on that date;
that proper and sufficient care has been taken for the maintenance of adequate accounting records in
accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities;
-

that the annual accounts have been prepared on a going concern basis.

Secretarial Compliance Certificate


In accordance with Section 383A of the Companies Act 1956 as amended by The Companies (Amendment) Act
2000, a copy of the Secretarial Compliance Certificate is attached to this report.
Directors
Thommen T Kuruvilla , retire by rotation at this annual general meeting and being eligible offers himselves for
reappointment
Cost Audit
Mr C Narayanan Nampoothiri , Cost Accountant was appointed as Cost Auditor of the company for conducting
Cost Audit for the financial year ended March 31, 2012 The Central Government has duly approved his
appointment. The Cost Audit Report for the financial year ended 2011-12 was filed with the Central Government
on 31-01-2013
Auditor
The auditor of the Company, Mr. T.K. Kuruvilla, retires at this Annual General Meeting and is eligible for reappointment.
Information under Sections 217(1)(e) and 217(2A)
Disclosure of the particulars of conservation of energy, technology absorption and foreign exchange earnings and
outgoings in terms of section 217(i)(e) is not applicable as the Company is engaged in plantation activities which
are not energy intensive and hence no energy conservation measures were undertaken. Considering the nature of
activities no comment is made on technology absorption and there have been no foreign exchange transactions
during the year.
The Company has no employee in respect of whom information under section 217(2A) of the Companies Act,1956
is required to be given in the Directors Report.
On behalf of the Board of Directors
G.J. ANCHERIL - Whole-time Director
Kottayam, May 30, 2013
MARY ALEX - Whole time Director

Thomas P. Chacko
Company Secretary in Practice

Poonithara
Yacht Club Enclave
Cochin 682 013
Tel: 9446571369

-3-

THE KAILAS RUBBER COMPANY LIMITED


Email: poonithara@gmail.com
COMPLIANCE CERTIFICATE
Registration No. of the Company : 09/554
Nominal Capital : Rs.50,00,000/To,
The Members
The Kailas Rubber Company Limited.
I have examined the registers, records, books and papers of The Kailas Rubber Company Limited as required to be maintained under the Companies Act, 1956 and the rules made thereunder
and also the provisions contained in the Memorandum and Articles of Association of the Company for the financial year ended on 31st March 2013. In my opinion and to the best of my
information and according to the examinations carried out by me and explanations furnished to me by the company, its officers and agents, I certify that in respect of the aforesaid financial
year:
1.

The Company has kept and maintained all registers as stated in Annexure A to
this certificate, as per the provisions and the rules made there under and all
entries therein have been duly recorded.

14.

The Board of Directors of the Company is duly constituted. There was no


appointment of additional directors, alternate directors and directors to fill
casual
vacancies during the financial year.

2.

The Company has duly filed the forms and returns as stated in Annexure B to
this certificate, with the Registrar of Companies within the time prescribed
under the Act and the rules made there under.

15.

The appointment of Managing Director/ Whole-time Director have been made


in
compliance with the provisions of section 269 read with Schedule XIII
to the Act.

3.

The Company, being a Public Limited Company, the provisions of Section 3


(i)(iii) are not applicable.

16.

The Company has not appointed any sole selling agents during the financial
year.

4.

The Board of Directors duly met six (6) times respectively on 30.04.2012,
20.07.2012, 20.10.2012, 27.11.2012, 29.01.2013 and 12.03.2013 in respect of
which meetings proper notices were given and the proceedings were properly
recorded and signed including the circular resolutions passed in the Minutes
Book maintained for the purpose.

17.

The Company was not required to obtain any approval of Central Government,
Company Law Board, Regional Director, Registrar and/or such authorities
prescribed under the various provisions of the Act during the financial year.

18.

5.

The Company closed its Register of Members from 17.09.2012 to 28.09.2012


and has complied with the provisions of section 154 of the Act has been made.

The directors have disclosed their interest in other firms/companies to the


Board of Directors pursuant to the provisions of the Act and the rules made
there under.

19.
6.

The Annual General Meeting for the financial year ended on 31st March, 2013
was held on 28.09.2012 after giving due notice to the members of the company
and the resolutions passed there at were duly recorded in Minutes Book
maintained for the purpose.

The Company has not issued any shares, debentures or other securities during
the financial year.

20.

The Company has not bought back any shares during the financial year.

21.

There was no redemption of preference shares or debentures during the


financial year.

22.

There were no transactions necessitating the company to keep in abeyance the


rights to dividend, rights shares and bonus shares pending registration of
transfer of shares.

23.

The Company has not invited/accepted any public deposits including any
unsecured loans falling within the purview of section 58A during the financial
year.

24.

The amount borrowed by the Company from directors, financial institutions,


banks and others during the financial year ended 31st March, 2013 is within the
borrowing limits of the company.

25.

The Company has not made loans or given guarantees or provided securities to
other bodies corporate. The investments made are in compliance with the
provisions of the Act and the company has made necessary entries in the
register kept for the purpose.

26.

The Company has not altered the provisions of the Memorandum with respect
to the location of the companys registered office from one State to another
during the financial year under scrutiny.

27.

The Company has not altered the provisions of the Memorandum with respect
to the objects of the company during the year under scrutiny.

28.

The Company has not altered the provisions of the Memorandum with respect
to name of the company during the year under scrutiny.

29.

The Company has not altered the provisions of the Memorandum with respect
to share capital of the company during the year under scrutiny.

30.

The Company has not altered its Articles of Association during the financial
year.

31.

There was no prosecution initiated against or show cause notices received by


the company and no fines or penalties or any other punishment was imposed on
the company during the financial year, for offences under the Act.

7.

No Extra-ordinary General Meeting was held during the financial year.


However the company conducted a postal ballot dated 12th March 2013, the
results of which were declared on 30th April 2013, to authorize sale of land
pursuant to Section 293(1)(a).

8.

The Company has not advanced any loans to its directors or persons or firms or
companies referred to under section 295 of the Act.

9.

The Company has duly complied with the provisions of section 297 of the Act
in respect of contracts specified in that section.

10.

The Company has made necessary entries in the register maintained under
section 301 of the Act.

11.

As there were no instances falling within the purview of section 314 of the Act,
the company has not obtained any approvals from the Board of directors,
members or Central Government.

12.

The Company has issued one duplicate share certificate during the financial
year.

13.

The Company :
(i)

has delivered all the certificates on lodgement thereof for


transfer/transmission or any other purpose in accordance with the
provisions of the Act;

(ii)

has deposited the amount of dividend declared in a separate Bank


Account on 3rd October, 2012 which is within five days from the
date of declaration of the dividend.

(iii)

has paid/posted warrants for dividends to all members within a


period of thirty days from the date of declaration of dividend and all
unclaimed/unpaid dividends have been transferred to the unpaid
dividend of the company with Syndicate Bank, Kottayam

(iv)

(v)

has transferred on 17.11.2012 Rs.1,10,370/- to the Investor


Education and Protection Fund being the amount lying in the
unpaid dividend account, application money due for refund, matured
deposits, matured debentures and the interest accrued thereon for
the year 2004-05. There is nothing other than this which has
remained unclaimed or unpaid for a period of seven years.

32.

The Company has not received any money as security from its employees during
the financial year.

33.

The Company has deposited both employees and employers contribution to


Provident Fund with prescribed authorities pursuant to section 418 of the Act.

has duly complied with the requirements of Section 217 of the Act.
Place: Cochin- 682 013
Date : 30.05.2013

Thomas P Chacko
Company Secretary in Practice
C.P.No.4251 FCS 4066

Annexure A
Registers as maintained by the Company

-4-

THE KAILAS RUBBER COMPANY LIMITED


Statutory Registers
1. Register of Charges u/s. 143/Copies of instruments creating charge u/s. 136.
2. Register of Members u/s. 150 and Index of Members u/s. 151.
3. Registers and Returns u/s. 163
4. Minutes Book of Meetings Board /Shareholders
5. Books of Accounts
6. Register of Contracts, Companies and firms in which Directors are interested u/s. 301
7. Register of Directors, Managing Director, Manager and Secretary u/s. 303.
8. Register of Directors shareholdings u/s 307
9. Register of Investments or Loans made, Guarantee given or security provided u/s 372A.
10. Register of Renewed and Duplicate Certificates under Rule 7 of the Companies (Issue of Share Certificates) Rules, 1960.

Annexure B
Forms and Returns as filed by the Company with the Registrar of Companies, during the financial year ended on 31st March, 2013.
Sl
Form No/
Filed
For
Date of filing
Whether
If delay in
No.
Return
under
filed within
filing
Section
prescribed
whether
time
requisite
Yes/No
additional fee
paid Yes/No
1
Form 23
192
Re- appointment of
27.10.2012
Yes
No
Whole time Director and
payment of
remuneration to Mr.G. J.
Ancheril
2
Form 25C
269(2)
Re-Appointment and
20.12.2012
Yes
No
payment of remuneration
to Whole-time Director
Mr. G. J. Ancheril
3
Form 66
383A
Compliance Certificate
25.10.2012
Yes
No
2011-12
4
Form 20 B
159
Annual Return
27.11.2012
Yes
No
2011-12
5
Form 23C
233 B (2)
Appointment of Cost
31.12.2012
No
Yes
Auditor
6
Form 23 AC-XBRL & 220
Annual Report
11.01.2013
Yes
No
Form 23ACA- XBRL
2011-12
7.
Form A-XBRL
209
Compliance Report and
31.01.2013
Yes
No
(1)(D)
other documents with
the Central Government
Thomas P Chacko
Company Secretary in Practice
C.P.No.4251 FCS 4066

INDEPENDENT AUDITORS REPORT


To the members of The Kailas Rubber Company Limited
-5-

THE KAILAS RUBBER COMPANY LIMITED

Report on the Financial Statement


I have audited the annexed Balance Sheet of The Kailas Rubber Company Limited as at March 31, 2013, the
Profit and Loss Account and the Cash Flow Statement for the year ended on that date annexed thereto and a
summary of significant accounting policies and other explanatory information.
Managements Responsibility for the Financial Statements
Management is responsible for the preparation of these financial statements that give a true and fair view of the
financial position, financial performance and cash flows of the Company in accordance with the Accounting
Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956. This responsibility includes
the design, implementation and maintenance of internal control relevant to the preparation and presentation of the
financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or
error.

Auditiors Responsibility
My responsibility is to express an opinion on these financial statements based on my audit. I conducted my audit
in accordance with Standards on Auditing issued by the Institute of Chartered Accountants of India. Those
Standards require that I comply with ethical requirements and plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amount and disclosures in the
financial statements. The procedures selected depend on the auditors judgment, including the assessment of the
risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the Companys preparation and fair presentation of
the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also
includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting
estimates made by management, as well as evaluating the overall presentation of the financial statements.
I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit
opinion.

Opinion
In my opinion and to the best of my information and according to the explanations given to me, the financial
statements give the information required by the Companies Act,1956, in the manner so required and give a true
and fair view in conformity with the accounting principles generally accepted in India:.
i.
ii.
iii.

in the case of the Balance Sheet, of the state of the Companys affairs as at March 31, 2013;
in the case of the Profit and Loss Account, of the proit for the year ended on that date; and
in the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements


1.

As required by the Companies ( Auditors Report) Order 2003 issued by the Central Government of India in
terms of sub-section (4A) of section 227 of the Companies Act, 1956, I enclose in the Annexure hereto a
statement on the matters specified in paragraph 4 and 5 of the said order.
-6-

THE KAILAS RUBBER COMPANY LIMITED


2.

Further to my comments in the Annexure reffered to above ,


Companies Act , I report that :

as required by Section 227(3) of the

a.

I have obtained all the information and explanations which to the best of my knowledge and belief
were necessary for the purposes of my audit.

b.

In my opinion, proper books of account as required by law have been kept by the Company so far as it
appears from my examinations of those books of account.

c.

The Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in
agreement with the books of account.

d.

In my opinion the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this
report comply with the mandatory Accounting Standards referred in Section 211 (3C) of the Companies
Act, 1956.

e.

On the basis of written representations received from the Directors as on March 31, 2013 and taken on
record by the Board of Directors , none of the directors is disqualified as on March 31, 2013from being
appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act,
1956.

T.K. KURUVILLA
Chartered Accountant
Membership No.020174

Kottayam, May30, 2013

Annexure to Independent Auditors Report of The Kailas Rubber Company Limited


As of and for the year ended March 31,2013
Referred to Paragraph 1 of my Report of even date
(i)

In respect of fixed assets : -7-

THE KAILAS RUBBER COMPANY LIMITED


a.
b.
c.
(ii)

In respect of Inventory : a.
b.
c.

(iii)

The company has maintained proper records of fixed assets showing full particulars of quantitative
details and location on the basis of available information.
As explained to me the fixed assets have been physically verified by the management during the year
in a phased periodical manner and no material discrepancies were identified on such verification.
In my opinion no substantial part of the fixed assets have been disposed off during the year and the
going concern status of the Company is not affected.

As explained to me physical verification of inventory has been conducted at reasonable intervals by


the management.
In my opinion and according to the information and explanations given to me the procedure for
physical verification of inventory followed by the management are reasonable and adequate
considering the size of the company and the nature of its business.
The company is maintaining proper records of inventory. As explained to me there were no material
discrepancies noticed on such physical verification of inventory as compared to book records .

In respect of loans secured or unsecured granted or taken by the company to / from companies, firms or
other parties covered in the register maintained under section 301 of the Companies Act, 1956 : a. The Company has not granted or taken any loan, secured or unsecured, to companies, firms, or other
parties covered in the register maintained under section 301 of the Companies Act 1956.

(iv)

In my opinion and according to the information and explanations given to me there are adequate internal
control system commensurate with the size of the company and the nature of its business, for the purchase
of inventory, fixed assets, for the sale of goods and rendering of services. During the course of my audit I
have not observed any major weaknesses in internal control system.

(v)

In respect of contracts or arrangements covered under section 301 of the Companies Act, 1956 : -

(vi)

a.

In my opinion and according to the information and explanations given to me the contracts or
arrangements that needed to be entered into a register in pursuance of section 301 of the Companies
Act have been so entered.

b.

In my opinion and according to the information and explanations given to me each of these
transactions made in Pursuance of such contracts or arrangements and exceeding the value of Rupees
Five Lakhs in respect of any party during the year have been made at prices which are reasonable
having regard to the prevailing market prices at the relevant time.

The company has not accepted any deposit from the public.

(vii) In my opinion the company has an internal audit system commensurate with its size and nature of its
business.
(viii)

The Central Government has prescribed maintenance of Cost Records under Section 209(1)(d) of The
CompaniesAct,1956 in respect of rubber manufacturing activities of the Company. I have broadly
reviewed the accounts and records of the Company in this connection and I am of the opinion that,
prima facie, the prescribed accounts and records have been made and maintained. I have not, however,
made a detailed examination of the same.

(ix) In respect of statutory dues : a.

According to the records of the company the company is generally regular in depositing undisputed
statutory dues including Provident Fund, Investor Education and Protection Fund, Income Tax, Sales
Tax, Cess, Excise Duty, Service Tax and any other statutory dues with the appropriate authorities.
According to the information and explanations given to me the company has no liability to pay
Employees State Insurance, Wealth Tax and Customs Duty. According to the information and
-8-

THE KAILAS RUBBER COMPANY LIMITED


explanations given to me, no undisputed amounts payable in respect of the aforesaid dues were
outstanding as at 31st March, 2013 for a period of more than six months from the date of becoming
payable
b. An aggregate amount of Rs. 9,50,587 is due as disputed Tamil Nadu Agricultural Income Tax for years
prior to the year under audit. An appeal is pending before the Tamil Nadu Agricultural Income Tax
Appellate Tribunal for two years and another appeal is pending before Assistant Commissioner
Agricultural Income tax for two years. An amount of Rs 7,28,941 has been demanded as Kerala
Agricultural Income Tax for the Year 1996 -97 by the Assistant Commissioner Kottayam. An appeal has
been filed before Deputy Commissioner (Appeals) Kollam. The D.C. (Appeals) Kollam has disposed the
appeal directing the Assessing Authority to fix the income after issuing a notice in the prescribed form
10 to the company and giving the company an opportunity of being heard. However no action has yet
been taken by the Assessing Authority. An amount Rs 5,62,950/- and interest of Rs 2,83,110 /-has been
demanded as Kerala Value Added Tax for the years 2005-06 to 2010-11 by the Commercial Tax
Officer ,Kottayam . An Appeal has been filed before Deputy Commissioner (Appeals) Eranakulam..The
Company has no disputed dues of customs tax, wealth tax, excise duty, cess and service tax which have
not been deposited
(x)

The company has no accumulated losses at the end of the financial year 2012-13. The Company has not
incurred cash loss during the years 2012-13 and 2011-12.

(xi) Based on my audit procedures and according to the information and explanations given to me, I am of the
opinion that the company has not defaulted in repayment of dues to a financial institution or bank. The
company has no debenture holder.
(xii) In my opinion and according to the information and explanation given to me the company has not granted
loans and advances on the basis of security by way of pledge of shares, debentures and other securities.
(xiii) In my opinion the provisions of special statute applicable to Chit Fund, Nidhi / Mutual Benefit Fund /
Societies are not applicable to the company. The Company is not a Chit Fund or a Nidhi/ Mutual Benefit
Fund/ Society.
(xiv) The company is not dealing or trading in shares, securities, debentures and other investments.
(xv) According to the information and explanations given to me the company has not given any guarantee for
loans taken by others from bank or financial institution.
(xvi) No term loans were obtained during the year under audit.
(xvii) According to the information and explanation given to me no funds raised on short term basis have been
used for long term investment.
(xviii) During the year the company has not made any preferential allotment of shares to parties and companies
covered in the Register maintained under section 301 of the Companies Act 1956.
(xix) The company has not issued any debenture.

(xx) The company has not raised any money by public issue during the year.
(xii) In my opinion and according to the information and explanations given to me no fraud on or by the company
has been noticed or reported during the course of my audit .

-9-

THE KAILAS RUBBER COMPANY LIMITED

T.K. KURUVILLA
Chartered Accountant
Membership No.020174

Kottayam, May 30, 2013

BALANCE SHEET AS AT MARCH 31, 2013


Particulars

Note

March 31,2013
Rs.
Rs.

March 31, 2012


Rs.
Rs.

EQUITY AND LIABILITIES

Shareholders funds
Share capital

19,58,600
-10-

19,58,600

THE KAILAS RUBBER COMPANY LIMITED


Reserves and surplus
Non-current liabilities
Other long term liabilities
Long term provisions
Current liabilities
Short term borrowings
Trade payables
Other current liabilities
Short-term provisions
TOTAL
ASSETS
Non current assets
Fixed assets
Tangible assets
Capital work-in-progress

22,99,57,600

23,19,16,200

19,39,20,500

19,58,79,100

5
6

49,98,700
1,98,92,900

2,48,91,600

31,27,800
1,75,92,900

2,07,20,700

7
8
9
10

66,400
1,23,28,000
16,80,300

11
12

9,75,08,700
22,81,500

Non current investments


Long term loans and advances

13
14

Current assets
Current investments
Inventories
Trade receivables
Cash and cash equivalents
Short-term loans advances
Other current assets
TOTAL

15
16
17
18
19
20

1,40,74,700
27,08,82,500

9,97,90,200

57,900
2,39,34,800
8,92,600

9,34,72,900
20,68,500

1,04,35,300
1,97,70,300
10,00,000
40,32,800
88,11,300
8,15,79,100
4,34,04,400
20,59,100

14,08,86,700
27,08,82,500

2,48,85,300
24,14,85,100

9,55,41,400
1,04,35,300
1,74,28,800

10,00,000
41,34,000
54,09,800
10,40,90,800
5,46,700
28,98,300

11,80,79,600
24,14,85,100

The notes on pages 14 to 27 form an integral part of these accounts.


For and on behalf of the Board

G.J. ANCHERIL

MARY ALEX

ALEX GEORGE

A.V. GEORGE

CDR. MANI THOMAS

THOMMEN T.
KURUVILLA

Whole-time
Director

Whole-time
Director

Director

Director

Director

Director

In terms of my report of even date


T.K.KURUVILLA

Chartered Accountant
Membership No.020174

Kottayam, May 30, 2013

PROFIT AND LOSS STATEMENT FOR THE YEAR ENDED MARCH 31, 2013
Particulars

Note
Rs.

Revenue from operations

Other Income
Total Revenue
Expenses :

21
22

March 31,2013
Rs.

5,44,74,600
2,33,19,300

Rs.

7,00,08,800
1,81,65,200
7,77,93,900

-11-

March 31, 2012


Rs.

8,81,74,000

THE KAILAS RUBBER COMPANY LIMITED


Cost of materials consumed
Changes in inventories of
finished goods ,work in
progress and stock in trade
Employee benefits expense
Finance Costs
Depreciation
Other Expenses
Total Expenses
Profit before exceptional and
extraordinary items and tax
Extra ordinary items
Profit before tax
Tax expenses
1) Current tax
2) Deferred tax
Taxation adjustments of
previous years (net)
Profit (Loss) for the period
from continuing operations
Earnings per equity share :
1)Basic
2)Diluted

23
24
25
26

(2,67,500)
2,72,68,700
36,700
26,88,500
1,52,36,400

12,59,900
2,16,12,600
35,000
22,79,100
1,34,81,600

27

28

4,49,62,800
3,28,31,100

3,86,68,200
4,95,05,800

1,05,32,400
4,33,63,500

99,34,000
5,94,39,800

(34,28,000)
18,700

(29,05,000)
2,32,200

____-_____

____-_____

3,99,54,200

5,67,67,000

29
204

289.84

The notes on pages 14 to 27 form an integral part of these accounts.


For and on behalf of the Board

G.J. ANCHERIL

MARY ALEX

ALEX GEORGE

A.V. GEORGE

CDR. MANI THOMAS

THOMMEN T.
KURUVILLA

Whole-time
Director

Whole-time
Director

Director

Director

Director

Director

In terms of my report of even date


T.K.KURUVILLA

Chartered Accountant
Membership No.020174

Kottayam, May 30, 2013

CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2013
2012 - 13
Rs.
A

CASH FLOW FROM OPERATING ACTIVITIES:


Net profit /(loss) before tax and extraordinary items
Adjustments for:
Depreciation
Profit on sale of fixed assets
Interest (net)/ dividend
Operating profit before working capital changes
Inventories

-12-

2011 - 12
Rs.

3,28,31,100

4,95,05,800

26,88,500
(3,03,500)
(72,29,200)
2,79,86,900
1,01,100

22,79,100
(91,800)
(75,06,900)
4,41,86,200
4,67,600

THE KAILAS RUBBER COMPANY LIMITED


Trade and other receivables
Trade and other payables
Cash generated by operations
Interest paid
Direct taxes paid
Agricultural Income Tax Paid
Self assessment income tax for the PY 2011-12 remitted
Cash flow before extra ordinary items
Refund received from income tax
Net cash generated by operating activities
B

(4,57,58,200)
(93,02,400)
(2,69,72,600)
(14,700)
(18,79,500)
(3,92,500)
(6,00,000)
(2,98,59,300)
3,95,000
(2,94,64,300)

(11,03,200)
1,53,65,700
5,89,16,300
(4,200)
(18,45,100)
(4,55,000)
(70,000)
5,65,42,000
5,19,500
5,70,61,500

(6,58,64,500)
8,68,14,400
(13,13,600)
(71,98,400)
1,17,73,600
6,36,800
65,01,700
7,42,200
3,20,92,200

(14,32,14,600)
6,80,00,000
(38,48,000)
1,49,20,300
(12,20,100)
(19,93,500)
1,12,56,400
1,09,400
53,27,400
21,83,900
(4,84,78,800)

(6,35,500)
(35,54,300)
(41,89,800)

(6,35,400)
(39,75,000)
(46,10,400)

(15,61,800)

39,72,300

66,26,400
50,64,600

26,54,100
66,26,400

CASH FLOW FROM INVESTING ACTIVITIES :


Investment in Fixed deposits
Redemption of fixed deposits
Investments in Mutual Fund
Redemption of Mutual Fund
Planting of Rubber Trees & Minor Produce
Additions to fixed assets & work in progress
Sale of standing rubber trees
Sale of fixed assets
Interest received
Dividend received
Net cash generated by investing activities

CASH FLOW FROM FINANCING ACTIVITIES


Dividend Tax paid
Dividend paid
Net cash consumed by financing activities
Net (decrease) / increase in cash and cash equivalents (A+B+C)
CASH AND BANK DEMAND DEPOSITS AS AT APRIL 1, 2012
CASH AND BANK DEMAND DEPOSITS AS AT MARCH 31, 2013

For and on behalf of the Board

G.J. ANCHERIL

MARY ALEX

ALEX GEORGE

A.V. GEORGE

CDR. MANI THOMAS

THOMMEN T.
KURUVILLA

Whole-time
Director

Whole-time
Director

Director

Director

Director

Director

In terms of my report of even date


T.K.KURUVILLA

Chartered Accountant
Membership No.020174

Kottayam, May 30, 2013

NOTES TO THE FINANCIAL STATEMENTS - MARCH 31, 2013


1.

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention, on the accrual basis of
accounting and in accordance with the Companies Act, 1956.
2.

PRINCIPAL ACCOUNTING POLICIES

(a) Fixed assets and depreciation


Fixed

assets

are stated

at

cost

less

accumulated depreciation. Depreciation


-13-

is

provided

THE KAILAS RUBBER COMPANY LIMITED


from the date of acquisition on the reducing
of the Companies Act ,1956.

balance method at the rates specified in Schedule XIV

The expenses relating to new planting and replanting of rubber trees and expenses of maintaining immature area
are capitalised under the fixed asset head Land and development. In the case of Kutikul Estate the expenses
relating to new planting and replanting of rubber trees and expenses of maintaining immature area are treated as
revenue expenditure and charged to profit and loss account.
(b) Sale of standing rubber trees
The cost of standing rubber trees sold is credited to Land and Development. The profit on sale of standing rubber
trees is credited to the Profit and Loss account.
(c) Investments
Investments are stated at cost less any permanent diminution in value.
(d) Inventories Rubber , Stores & Spares , and Nurseries
Inventories are stated at the lower of cost and net realisable value. In the case of rubber, cost includes estate
expenditure and processing costs of conversion of latex to rubber. Net realisable value is the price at which
inventories can be sold in the normal course of business after allowing for the cost of realisation. Provision is made
where necessary for obsolescent, slow-moving and defective inventories.
(e) Live Stock
In the case of live stock the company is rearing cattle for sale. The Cost of procurement , rearing and selling
expenses are treated as revenue expenditure and its sale value is treated as income .The Stock at the end of the year
is shown at the fair value less selling cost
(f) Foreign currency
Foreign currency transactions are recorded at the exchange rates prevailing at the dates of the transactions. Assets
and liabilities expressed in foreign currencies are translated to Indian Rupees at the rates of exchange ruling at the
balance sheet date.
(g) Sales
Sales represent the invoiced value of goods supplied less taxes there of .
(h) Taxation
Provision for Income-tax charged to the Profit and Loss Account comprises Current Tax, which is the amount of
income-tax determined to be payable in accordance with the prevailing tax laws in respect of the taxable income
for the year and Deferred Tax, which is the tax effect of timing differences. In accordance with Accounting
Standard 22 Accounting for Taxes on Income, issued by the Institute of Chartered Accountants
of India, the deferred tax for timing differences between the book and tax profits for the year is accounted for using
the tax laws and rules that have been enacted or substantially enacted as at the balance sheet date.
(i) Retirement benefits
The Companys gratuity scheme in respect of employees is funded with Life Insurance Corporation of India
(LIC) and Annual contribution to the Fund actuarially assessed by LIC is expensed. The Provision for
Contribution to fund for past year services is also expensed to the extent provisions are not available . Provision
for Gratuity at HO are expensed The Company also makes regular contributions to the Provident Fund and in
respect of the superannuation scheme and these are charged to the Profit and Loss Account..

3) SHARE CAPITAL
March 31,2013
Rs.
-14-

March 31, 2012


Rs.

THE KAILAS RUBBER COMPANY LIMITED


Authorised
5,00,000 equity shares of Rs. 10 each

50,00,000

50,00,000

Issued
1,97,285 (March 31, 2012 1,97,285) equity shares of Rs. 10 each

19,72,800

19,72,800

Subscribed and paid-up


1,36,570 (March 31, 2012 1,36,570) equity shares of
Rs.10 each issued for payment in cash, fully paid

13,65,700

13,65,700

5,92,900
19,58,600

5,92,900
19,58,600

59,285 (March 31, 2012 59,285) equity shares of Rs.10


each allotted as fully paid bonus shares in earlier years
Notes
Persons holding equity shares above 5% of the issued capital
Name of the Shareholder
Jacob Mathew
George AV
A V George and Company
Private Limited
Mammen Varkey
Alex George
Elizabeth John
Molly Varkey

Class of Shares
Equity Shares
Equity Shares
Equity Shares

As at March 31 , 2013
Numbers
% age
30,172
15.41
26,775
13.67
23,709
12.11

As at March 31 , 2012
Numbers
% age
29,100
14.86
26,775
13.67
23,649
12.07

Equity Shares
Equity Shares
Equity Shares
Equity Shares

17,073
13,346
13,011
10,343

17,073
13,346
13,011
10,343

8.72
6.81
6.64
5.28

8.72
6.81
6.64
5.28

No shares were allotted as fully paid up pursuant to contracts without payment being received in cash or were
issued as fully paid up bonus shares and no shares of any class were bought back for the period of five years
immediately preceding the date of balance sheet
There were no calls unpaid or forfeited shares

4) RESERVES AND SURPLUS


March 31,2013
Rs.

March 31, 2012


Rs.

Capital reserve

1,17,84,300

1,17,84,300

Share premium

1,80,000

1,80,000

1,15,05,000
56,80,000
1,71,85,000

91,45,000
23,60,000
1,15,05,000

Other Reserves -General Reserve


At April 1, 2012
Transferred from Profit and Loss Account
At March 31,2013
Surplus
-15-

THE KAILAS RUBBER COMPANY LIMITED


At April 1, 2012
Transferred from Profit and Loss Account
Total
Less :
Dividend on equity
Transfer to General Reserve
At March 31 , 2013
Total

17,04,51,200
3,99,54,200
21,04,05,400

11,60,44,200

39,17,100
56,80,000
20,08,08,300
22,99,57,600

23,60,000
17,04,51,200
19,39,20,500

5,67,67,000

17,28,11,200

Note
Proposed Dividend
The directors of the company have decided to recommend to the shareholders the declaration of a
dividend of Rs 20 on each equity shares of Rs 10 each fully paid up , at the annual general meeting of the
company to be held for adoption of the accounts for the year ended 31-03-2013 . The proposed dividend
will amount to Rs 39,17,100/-and the dividend tax payable thereon will be work out to approximately Rs
6,65,712/5) OTHER LONG-TERM LIABILITIES
March 31,2013
Rs.

Deposits and Advances

March 31, 2012


Rs.

49,98,700
49,98,700

31,27,800
31,27,800

March 31,2013
Rs.
1,98,92,900
1,98,92,900

March 31, 2012


Rs.
1,75,92,900
1,75,92,900

6) LONG-TERM PROVISIONS

Provision for Taxation

7) SHORT-TERM BORROWINGS
a) Loans repayable on demand
from banks

-16-

THE KAILAS RUBBER COMPANY LIMITED


The Company has a sanctioned overdraft facility with Syndicate Bank of Rs 50,00,000 As on the
Balance Sheet date there is no overdraft balance as (As on March 31,2012 balance was nil ).The facility has
been sanctioned on the security of the equitable mortgage of land and buildings ,hypothecation of Plant and
machinery , stocks and crop at the estates and the director s personal guarantee

8) TRADE PAYABLES

Sundry Creditiors

March 31,2013
Rs.

March 31, 2012


Rs.

66,400
66,400

57,900
57,900

9) OTHER CURRENT LIABILITIES

Deposits & Advances


Accrued Expenses
Unclaimed Dividend

March 31,2013
Rs.

March 31, 2012


Rs.

92,30,800
19,14,900
11,82,300
1,23,28,000

2,06,57,000
24,58,200
8,19,600
2,39,34,800

March 31,2013
Rs.

March 31, 2012


Rs.

10) SHORT TERM PROVISIONS

Provision for bonus


Provision for Gratuity

15,67,800
1,12,500
16,80,300

8,92,600
___-__
8,92,600

11) TANGIBLE ASSETS


Land and
development
Rs.
COST
At April 1, 2012
Planting of rubber trees
Additions
Disposals
Cost of Standing Rubber Trees
Sold
At March 31,2012
DEPRECIATION
At April 1, 2012

Buildings
Rs.

Plant and
Furniture and Motor
machinery equipment
vehicles
Rs.
Rs.
Rs.

Total
Rs.

7,82,50,400
13,13,600
-

1,55,46,300 48,10,700
30,00,200
24,500
-

29,41,000
81,400
-

55,11,200 10,70,59,600
13,13,600
38,79,200
69,85,300
(19,26,200) (19,26,200)

(12,41,200)
7,83,22,800

___-____ ___-____
1,85,46,500 48,35,200

___-____
30,22,400

___-____ (12,41,200)
74,64,200 11,21,91,100

50,87,900 35,58,400

17,88,400

31,52,000

-17-

1,35,86,700

THE KAILAS RUBBER COMPANY LIMITED


Charge for the period
Disposals
At March 31,2013
NET BOOK VALUE
At March 31,2012
At March 31,2013

_____-____
____-____

10,27,600 1,75,400
____-___ ____ -___
61,15,500 37,33,800

2,76,100
____ -___
20,64,500

12,09,400
(15,92,800)
27,68,600

26,88,500
(15,92,800)
1,46,82,400

7,82,50,400 1,04,58,400 12,52,300


7,83,22,800 1,24,31,000 11,01,400

11,52,600
9,57,900

23,59,200
46,95,600

9,34,72,900
9,75,08,700

12) CAPITAL WORK IN PROGRESS


March 31,2013
Rs.
At April 2012
Additions
Total
Transfer to Fixed Assets
Transfer to Expenses ( Failure)
Capital Work in progress at March 31 , 2013

20,68,500
33,79,600
54,48,100
30,00,200
1,66,400
22,81,500

March 31, 2012


Rs.
15,18,800
10,39,700
25,58,500
4,90,000
20,68,500

13) NON CURRENT INVESTMENTS


March 31,2013
Rs.
Investment In Equity Instruments
i) J.K. Tyre & Industries Limited 13,917(March 2012-13,917) equity
shares of Rs.10 each)
[ Market value Rs 14,08,400( March 2012 Rs 11,21,710)
ii) Shares in Bengal & Assam Co Ltd 847(March-2012-847) equity shares
of Rs.10 each
Market value Rs 2,25,429 (March 2012-Rs 1,69,400)
iii) The Thamarapally Rubber Company Limited 8,000 (March 31, 2012 8,000) equity shares of Rs.10 each
[ market value no quotation is available ]
iv)AVG Motors Limited 1,90,000 (March 2012 -1,90,000) equity
shares of Rs 10 each
-18-

March 31, 2012


Rs.

4,97,600

4,97,600

80,900

80,900

1,00,300

1,00,300

68,98,400

68,98,400

THE KAILAS RUBBER COMPANY LIMITED


Investment in Government or Trust Securities
i) Kerala Government Bhadratha Social Security Scheme
ii) Indira Vikas Patra
Investments in Debentures or Bonds
i) PFC Tax Free Bonds-2848 units of Rs. 1000 each
Market value March 31-2013 -31,05,032[March 31-2012-Rs 29,00,232]
Quoted

- Cost
- Market value (excludes The Thamarapally Rubber
company
Limited for which no quotation is available
Unquoted - Cost

10,000
100

10,000
100

28,48,000
1,04,35,300
35,26,800

28,48,000
1,04,35,300
35,26,800

47,38,861
69,08,500

41,91,342
69,08,500

14) LONG-TERM LOANS AND ADVANCES


March 31,2013
Rs.
Unsecured considered good
Loans and advances to related parties
Udayagiri Rubber Company Limited
Others
Security Deposits
Advance Tax

March 31, 2012


Rs.

1,50,100

1,50,100

4,64,600
1,91,55,600
1,97,70,300

4,74,600
1,68,04,100
1,74,28,800

15) CURRENT INVESTMENTS


March 31,2013
Rs.
Investment In Mutual Fund
a) ICICI Prudential Income Plan Growth (31,205 units of Rs 32.05 each )
Net Asset Value as on 31-03-2012 Rs 10,42,136

March 31, 2012


Rs.

10,00,000
________
10,00,000

10,00,000
________
10,00,000

Investments in Mutual Funds : -Costs

10,00,000

10,00,000

Investments in Mutual Funds : -Net Asset Value

11,57,996

10,42,135

-19-

THE KAILAS RUBBER COMPANY LIMITED


16) INVENTORIES
March 31,2013
Rs.
Amount

Qty
i) Valued at lower of cost and net realisable value
Rubber
Stores and spares

Qty

15,369 Kg

15,41,300
12,22,800
6,90,200

12,069 Kg

13,56,900
15,43,600
7,38,100

47 Nos

5,78,500
40,32,800

47 Nos

4,95,400
41,34,000

Nurseries
ii) Valued at fair value less selling cost
Live Stock

March 31, 2012


Rs.
Amount

17) TRADE RECEIVABLES


Unsecured debts considered good :
Debts outstanding for less than six months
Debts outstanding for a period exceeding six months

March 31, 2013


Rs.

March 31, 2012


Rs.

87,46,300

48,45,800

65,000
88,11,300

5,64,000
54,09,800

18) CASH AND CASH EQUIVALENTS


March 31, 2013
Rs.
Cash on hand
Balances with banks:
In current accounts
In deposit accounts
-20-

March 31, 2012


Rs.

19,400

1,04,300

38,62,900
7,65,14,500

57,02,500
9,74,64,400

THE KAILAS RUBBER COMPANY LIMITED


In unpaid dividend account

11,82,300
8,15,79,100

8,19,600
10,40,90,800

19) SHORT TERM LOANS AND ADVANCES


March 31, 2013
Rs.
Others
Other Advances
Prepaid Expenses
Advance to Employees

March 31, 2012


Rs.

4,32,67,100
32,100
1,05,200
4,34,04,400

4,95,300
39,200
12,200
5,46,700

20) OTHER CURRENT ASSETS


March 31, 2013
Rs.
Interest Receivable

March 31, 2012


Rs.

20,59,100
20,59,100

28,98,300
28,98,300

21) REVENUE FROM OPERATIONS


2012 - 13
Qty
Sale of Products
Income from minor produce
Rubber Kutikul Estate Kerala
Rubber Paalali Estate , Tamilnadu
Pepper, cloves and pureria seeds

Amount
3,36,000
3,77,16,700
1,64,08,900
13,000
5,44,74,600

2,10,057 Kg
1,09,464 Kg

2011 - 12
Qty
1,44,596 Kg
2,14,915 Kg

Amount
3,70,500
3,16,23,200
3,80,06,600
8,500
7,00,08,800

22) OTHER INCOME


2012 - 13
Rs.
65,01,700
7,42,200
1,60,75,400
2,33,19,300

Interest income
Dividend Income :Other Non operating revenue

2011 - 12
Rs.
53,27,400
21,83,800
1,06,54,000
1,81,65,200

23) CHANGES IN INVENTORIES OF FINISHED GOODS ,WORK IN PROGRESS AND STOCK IN


TRADE
2012 - 13
2011 - 12
Rs.
Rs.
Opening stock of : - Rubber
13,56,900
25,87,700
: - Moulded fibre board skins and doors
12,100
:- Live stock
4,95,400
5,12,400
Total
18,52,300
31,12,200
Less :
Closing Stock of :- Rubber
15,41,300
13,56,900
:- Live stock
5,78,500
4,95,400
-21-

THE KAILAS RUBBER COMPANY LIMITED


(Increase) /Decrease of inventories

(2,67,500)

24)EMPLOYEE BENEFITS EXPENSE


Staff Salary & Bonus
Contribuion to PF & DLI
Welfare Expenses
Gratuity
Total

12,59,900

2012 - 13
2,11,39,200
24,37,200
9,83,800
27,08,500
2,72,68,700

2011 - 12
1,75,80,400
21,14,200
8,26,700
10,91,300
2,16,12,600

2012 - 13

2011 - 12

25) FINANCE COSTS


Interest
Other Financial Services
Total

14,700
22,000
36,700

4,200
30,800
35,000

2012 13

2011 - 12

26) OTHER EXPENSES


Up Keep of Buildings
Vehicles UP Keep
Up Keep of Machinery & Furniture
Rates & Taxes
Insurance
Legal Expenses & Professional Fee
Travel & Conveyance
Auditors remuneration :
Statutory audit and certification
Expenses reimbursed
Directors fee's & Travel
Subscription to Associations

6,70,900
6,32,200
2,56,100
1,23,800
1,10,600
5,01,500
5,65,400
28,500
4,500

-22-

33,000
1,97,100
1,47,200

6,88,300
5,58,400
43,900
1,53,400
85,600
2,62,500
5,79,000
17,500
4,500

22,000
1,65,600
1,75,700

THE KAILAS RUBBER COMPANY LIMITED


Communication
Rent
Electricity &Water
Commission
Printing & Stationery
Manuring , Spraying & Rain guarding
Roads& Boundaries
Minor Cultivation
Manufacturing
Packing & Transporting
Tools & Implements
Advertisement
Miscellaneous Expenses
Cost of Replanting of Rubber Plants
Live Stock Expenses

2,53,700
3,62,900
5,28,300
4,48,000
1,87,300
15,64,300
99,300
2,48,800
16,47,000
2,25,500
3,04,200
5,200
8,43,100
51,33,600
1,47,400
1,52,36,400

2,53,600
3,37,500
3,76,300
2,93,900
6,73,800
10,88,700
3,10,800
2,05,300
12,31,800
2,74,500
2,91,900
17,000
2,86,100
48,68,600
2,37,400
1,34,81,600

27) EXTRA ORDINARY ITEMS


Profit on sale of standing rubber , firewood & shade trees amounting to Rs. 1,05,32,400 (2011-12 : Rs 99,34,000)
consisted of the following:
_____________2012 13
Sale proceeds
Cost

Rs.
Sale of rubber trees / firewood at:
Kutikul Estate, Mundakayam, Kerala
Paalali Estate ,Kulasekharam , Tamilnadu

67,62,500
50,11,100
1,17,73,600

Rs.
8,75,800
3,65,400
12,41,200

_
Profit on
sale of
rubber ,
firewood &
shade trees
Rs.
58,86,700
46,45,700
1,05,32,400

__2011 12 _
Profit on sale of
rubber trees/
firewood
Rs.
70,58,500
28,75,500
99,34,000

28). DEFERRED TAXATION


In terms of Accounting Standard 22 issued by the Institute of Chartered Accountants of India, the Company had
net deferred tax assets amounting to Rs 3,87,500/- at April 1, 2012 and Rs 1,82,700/- at March 31, 2013, details of
which are given below. However, no adjustment has been made in these accounts to take credit in respect of the net
deferred tax assets .
At April 1, 2012
Rs
Deferred Tax Assets
Fixed assets
Provision for bonus
Provision for retirement benefit
Net total Deferred Tax Assets

1,84,000
2,03,500
___ -__
3,87,500

Tax effect for the year At March 31, 2013


Rs
Rs.
1,74,500
79,000
(48700)
2,04,800

9,500
1,24,500
48,700
1,82,700

29). BASIC AND DILUTED EARNINGS PER SHARE


2012- 13
Number of equity shares of Rs.10 each
Net profit/ (loss) attributable to equity shareholders (Rs.)
Earnings per share ( Rs. per share)
-23-

2011 - 12

1,95,855

1,95,855

3,99,54,200

5,67,67,000

204

289.84

THE KAILAS RUBBER COMPANY LIMITED

30) RELATED PARTY DISCLOSURES


(a) List of related parties where control exists:
The nature of the related party relationship in respect of the entities listed below is that they all belong to the AVG
Group of Companies with common principal shareholders and directors.

(i)

1.

The Thamarapally Rubber Company Limited

2
3.
4.
5.
6
7.

The Nilgiri Tea Estates Limited


The Udayagiri Rubber Company Limited
AVG Motors Limited
A.V. George & Company Private Limited
A.V. George and Company India Private Limited
AVG Vehicle Sales & Services Private Limited

(b)

Other related parties with whom transactions have taken place during the year:

Ooppoottil Agricultural Services The nature of related party relationship is that the sister of one
Director is a partner in Ooppoottil Agricultural Services, a partnership firm, over which the AVG Group of
Companies or any of its Directors does not have any control nor the ability to exercise significant influence in the
financial or operating decisions of that firm.
(ii) Key management personnel:
G.J. Ancheril Whole-time Director
Mary Alex - Whole time Director

(c)

Transactions with related parties


Name of related party

The Nilgiri
Limited

Tea

Nature of transactions

Rs.
27,000

Estates Purchase of tea

The
Udayagiri
Company Limited

Rubber

The Thamarapally
Company Limited

Rubber Fax/ photocopier/


expenses

Volume of
transaction
s

NIL
telephone

A.V. George and Company Purchase of fuel

4,700

7,01,800

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Balance
March 31,
2013
Receivable/
(Payable)

Interested Directors

NIL G.J Ancheril


A.V George
Thommen T Kuruvilla
1,50,100 Alex George
A.V George
Thommen T Kuruvilla
NIL G.J Ancheril
A.V George
Alex George
Thommen T Kuruvilla
Cdr Mani Thomas
NIL G.J Ancheril

THE KAILAS RUBBER COMPANY LIMITED


Private Limited

Salary of shared officers,


building, rent, electricity etc.
Postage (Franking machine)
expenses
Purchase of vehicle
Vehicle insurance paid
Sale of Vehicle
Repairs of vehicle

AVG Motors Limited

AVG Vehicle Sales


Services Private Limited
Ooppoottil
Services

&

Agricultural Purchase of manure,chemicals


and tools

15,15,000

6,800
9,79,400
27,100
2,35,000
66,000
NIL

11,25,700

A.V George
Mary Alex
Alex George
NIL
G.J Ancheril
A.V George
Alex George

NIL Alex George


A.V George
G.J Ancheril
NIL

The remuneration paid to G.J. Ancheril, Whole-time Director ( Rs.12,65,300) and Mrs Mary Alex Whole time
Director (9,60,900) is disclosed in Note 34.

31) SEGMENT REPORTING


As the company has discontinued the business of manufacturing moulded fibre doors there is no separate
reportable segments during the current year . Therefore no segmental report has been prepared and disclosed .

32) CONTINGENT LIABILITIES AND COMMITMENTS


Tamil Nadu Agricultural Income Tax (AIT) demand amounting to Rs. 9,50,587 (March 31, 2012-Rs. 9,50,587)
which are disputed and in appeals. The Kerala Agricultural Income Tax demands Rs. 7,28,941/- (March 31, 2012Rs. 7,28,941) which was disputed in Appeals and the Appeal was disposed by the DC (Appeals) Kollam directing
the Assessing Authority to fix the income after issuing a notice in the prescribed Form 10 to the company and
giving the company an opportunity of being heard. However no action has yet been taken by the Assessing
Authority. An amount Rs 5,62,950/- and interest of Rs 2,83,110 /-has been demanded as Kerala Commercial Tax
for the years 2005-06 to 2010-11 by the Commercial Tax Officer ,Kottayam . An Appeal has been filed before
Deputy Commissioner (Appeals) Eranakulam

33 ) VALUE OF IMPORTED AND INDIGENOUS MATERIALS CONSUMED


2012 - 13
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2011-12

THE KAILAS RUBBER COMPANY LIMITED


Rs.
Chemicals, stores and components :
Imported
Indigenous

1,82,400
28,45,400
30,27,800

Rs.

6%
94 %
100 %

1,62,000
24,61,900
26,23,900

6%
94 %
100 %

34) REMUNERATION TO WHOLE-TIME DIRECTORS

Salary
Contribution to Provident and
Perquisites

other funds

2012-13
Whole-time
Directors
Rs

2011 12
Whole-time
Director
Rs.

16,12,500
3,21,800
2,91,900
22,26,200

13,67,500
2,80,700
2,70,600
19,18,800

35). Previous years figures have been regrouped wherever necessary to make them comparable with those
of the current year.
For and on behalf of the Board

G.J. ANCHERIL

MARY ALEX

ALEX GEORGE

A.V. GEORGE

CDR. MANI THOMAS

THOMMEN T.
KURUVILLA

Whole-time
Director

Whole-time
Director

Director

Director

Director

Director

In terms of my report of even date


T.K.KURUVILLA

Chartered Accountant
Membership No.020174

Kottayam, May 30, 2013

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