AUDITED FINANCIAL STATEMENT OF NANOFIL TECHNOLOGIES PVT...
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AUDITED FINANCIAL STATEMENT OF
NANOFIL TECHNOLOGIES PVT. LIMITED
FOR FINANCIAL YEAR ENDED ON 31ST MARCH,2016
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CA Kumar Khanna Chartered Accountants
Independent Auditor's Report
To , The Members of Nanofil Technologies Pvt Ltd,
Report on the Financial Statements
We have audited the accompanying financial statements of M/S Nanofil Technologies Pvt Ltd "the Company") which comprise the Balance Sheet as at March 31„2016 and the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.
Management's Responsibility for the Financial Statements
the Company's Board of Directors is responsible for the matters stated in Section 134 (5) of tke Companies Act,2013 ( " the Act") with respect to the preparation and presentation of these financial statements that give a true and fair view of the financial position and financial performance and cash flows of the Company in accordance with the Accounting principles generally accepted in India, including the Accounting Standards specified under section 133 of the Act, read with rule 7 of the Companies ( Accounts) Rules,2014 . This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds ana other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent ; and design , implementation and maintenance 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 view and are free from material mis statement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit.
We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made thereunder.
We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India and specified under section 143 (10) of the Act. . Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
Address HO: Ambika Bhawan,: Bazpur Road, Kashipur Dist 1 . \agor-2 I-1 . 7 3 i 1 tiora4haird,
Phone : 05947-275188 Mobile : 983 74 7184 7
Email :[email protected]
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Kumar Rjianna Chartered Accountants
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's 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 Company's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the Company's Directors, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the standalone financial statements.
Opinion
In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31,2016: b) in the case of the Profit and Loss Account, of the profit for the year ended on that date. and
c) 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 (Auditor's Report) Order, 2016 ( CAR0,2016/ "the Order") issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act,2013 vide Order No. S.O. 1228 (E) dated 29 th March,2016. We give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order.
2. As required by section 143 (3) of the Companies Act,2013 we report that:
a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit;
b) In our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books
c) The Balance Sheet and Statement of Profit and Loss and the Cash Flow Statement, of the cash flows for the year ended on that date. dealt with by this Report are in agreement with the books of account.
d) In our opinion, the Balance Sheet and the Statement of Profit and Loss and the Cash Flow Statement comply with the Accounting Standards specified under section 133 of the Act, read with Rule 7 of the Companies ( Accounts ) Rules,2014 ;
e) On the basis of written representations received from the directors as on March 31, 2016 on record by the Board of Directors, none of the directors is disqualified as on March 31, 2016 from being appointed as a director in terms of sub-section (2) of section 164 of the Companies Act, 2013.
f) with respect to the adequacy of the internal financial controls over financial reporting of the Company and operating effectiveness of such controls, the same appears to be satisfactory.
Address HO: Ambika Bhawan,: Bazpur Road, Kashipur Dist. U.S. Nagar-244713 ( Uttarakhand)
Phone : 05947-275188 Mobile : 9837471847
Email :[email protected]
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FOR KUMAR KHANNA ARTERED ACCOUNTANTS
.NAHA161AFCA NER MNO.70664
irm Registration No 01528C
g)
Kumar Khanna Chartered Accountants
with respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies ( Audit and Auditors) Rules,2014 in our opinion and to the best of our information and according to the explanations given to us:
i) The company has disclosed the impact of pending litigations on its financial position in its financial statements- Refer Note "10" and "13" to the financial statements.
ii) the Company has no long term contracts or derivative contracts , therefore provision, as required under applicable law or accounting standards, for material foreseeable losses , if any, is not applicable.
iii) The company has no amounts to be transferred , to the Investor Education and Protection Fund
PLACE: KASHIPUR Dated: 25.04.2016
Address HO: Ambika Bhawan,: Bazpur Road, Kashipur Dist. CS. Nagar - 2 -14'13 ( I Minikliamli
Phone : 05947-275188 Mobile : 983 74 7184 7
Email :bnkhanna@gmailcom
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Q Xumar Xfianna Chartered Accountants
Annexure to the Auditor's Report
ANNEXURE REFERRED TO IN INDEPENDENT AUDITOR'S REPORT OF EVEN DATE TO THE MEMBERS OF M/S NANOFIL TECHNOLOGY PVT LTD ON THE ACCOUNTS AS AT AND FOR THE YEAR ENDED ON 31 St March 2016
1. FIXED ASSETS [Clause-3(i) :
a) Proper Records: As defined in AS- 10, the company has fixed assets on Lease as well as its own purchase. Own assets comprises Plant & Machinery, Electric Installation, Office Equipments & Staff Bus etc., in respect of which proper records showing full particulars including quantitative details & situation of the fixed assets, have been maintained.
b) Physical Verification :As explained to us, the company has a regular programme of physical verification of its fixed assets in a phased manner over a period of time. In accordance with this programme , certain fixed assets were verified during the year and no material discrepancies were noticed on such verification. In our opinion, this periodicity of physical verification is reasonable having regard to the size of Company and the nature of its assets.
c) Title Deed : According to the information and explanations given to us and on the basis of our examination of records of the Company, the Lease deed of immoveable property and moveable Equipments are held in the name of the Company.
2. INVENTORY [ Clause- 3 (ii) ]
a) Physical Verification : As explained to us, inventories, have been physically verified by the management during the year and the frequency of the physical verification as informed to us appears to be reasonable.
b) As explained to us, there were no material discrepancies noticed on physical verification of inventory as compared to the book records.
3. LOANS GRANTED BY THE COMPANY [ Clause-3(iii)]
The company has not granted any Loans, secured or unsecured to companies, firms, Limited Liability Partnerships (LLP) or other parties covered in the register maintained U/s 189 of the Companies Act, 2013. Therefore,
a) The matter of terms & Conditions of grant of such loan is not applicable. b) The matter of recovery of principal and interest of grant of such loan is not applicable c) The matter of steps of recovery of Principal & interest of grant of such loan is not applicable.
4. LOANS TO DIRECTORS AND INVESTMENT BY COMPANY [Clause-3 (iv)]
In our opinion and according to the informations and explanations given to us , the requirement of compliance of section 185 and 186 of the Companies Act,2013 is not applicable ,as the company has not made/ given any loans, Guarantees and investments during 1- 1 , ( financial year3lst March,2016.
5. ACCEPTANCE OF DEPOSITS [ Clause 3(v)
In our opinion and according to the information & explanations given to us, directives issued by the Reserve Bank of India and provisions of section 73 to 76 of the Companies Act 2013 and the rules framed there under, to the extent applicable, the company has not accepted any deposits from the public within the meanin of above mentioned provision of the companies Act ,2013
Address HO: Ambika Bhawan,: Bazpur Road, Kaship
Phone : 05947-275188 Mobile : 983 74 7184 7
Email :bnkhanna@gmailcom
244713 ( Uttarakhand)
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CA Kumar Khanna Chartered Accountants
6. COST RECORDS [ Clause 3 (vi) ]
As informed to us by the management, that so far ,the maintenance of cost records has not been prescribed by the Central Government under section 148 (I) of the Companies Act,2013 for the Company.
7. STATUTORY DUES [ Clause 3 (vii) ]
a) According to the information and explanation given to us, and on the basis of our examination of records of the Company, amounts deducted/accrued in books of account in respect of undisputed statutory dues including including Provident Fund, Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Duty of Customs, Duty of Excise, Value added Tax and any other statutory dues have been regularly deposited during the year ,by thc company with appropriate authorities.
b) According to the information and explanation given to us, there are no undisputed amounts pending before any forum/ authorities in respect of payment of statutory dues of Income Tax, Wealth Tax, Customs duty and 'Excise duty', Service Tax , Value Added Tax etc
c) DISPUTE FOR TAX AND DUTY : According to the information and explanation given to us , the following amount of sales tax have been deposited by the company on account of disputes:
Nature of Statue
Nature of Dues
Total Amount involved ( in Rs.)
Total Amount deposited ( in Rs.)
Period to which the amount relates
Forum where dispute is pending
Uttarakhand VAT
Rejection of Forms C submitted by company
1514862.00 680000.00 FY 2011-12 Dy Commissioner, sales tax I (Appeals), Haldwani
Uttarakhand VAT
Rejection of Forms C submitted by company
2593001.00 821000.00 FY 2012-13 Dy Commissioner, sales tax (Appeals), Haldwani
8. REPAYMENT OF LOANS: [ Clause -3 (viii) ) ]
According to the information & explanations given to us and overall examination of Balance Sheet and Cash Flow Statement of the Company, the company does not have any loans or borrowings from any financial institution or debenture holders , except a continuing long term vehicle loan from Punjab National Bank, Kashipur. In our opinion and according to information and explanations given to us no default in the repayment of principal and interest of long term vehicle loan has occurred during the year .
9. UTILIZATION OF IPO AND FURTHER PUBLIC OFFER : [ Clause-3 (ix)
In our opinion and according to information and explanations given to us , the company did not raise any money by way of initial public offer or further public offer ( including debt instruments) and term loans during the year. Accordingly, paragraph 3 (ix) of the Order is not applicable.
Address HO: Ambika Bhawan,: Bazpur Road, Kashipur Dist. US. Nagar-24-r 13 ltorakhandi
Phone : 05947-275188 Mobile : 983 74 7184 7
Email :bnkhanna@gmait com
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K1-1711,\,.
KHANNA, FCA. Cd0 ARTNER. M.No.70664
FOR & ON BEHALF OF KUMAR KHANNA
CHARTERED ACCOUNTANT FRN: 01528 C
7(umar Khanna Chartered Accountants
10. REPORTING OF FRAUD UNDER SECTION 143(12) to (15) OF COMPANIES ACT,2013 [Clause 3- (x) ]
In our opinion and according to information and explanations given to us , no material fraud on or by the company by its officers or employees has been noticed or reported during the course of our audit .
11. APPROVAL OF MANAGERIAL REMUNERATION: [ Clause-3 (xi) ]
According to information and explanations given to us and based on our examination of the records of the Company, the Company has paid the sitting fee only to the directors of the company in accordance with the requisite approvals mandated by the provisions of section 197 read with Schedule V to the Act.
12. NIDHI COMPANY [ Clause-3 (xii) ]
In our opinion and according to the information and explanations given to us, the Company not a Nidhi Company. Accordingly ,paragraph 3 (xii) of the order is not applicable.
13. RELATED PARTY TRANSACTIONS [ Clause-3 (xiii) ]
According to information and explanations given to us and based on our examination of the records of the Company, transactions with related parties are in compliance with sections 177 and 188 of the Act where applicable and details of such transactions have been disclosed in the financial statements as required by the applicable accounting standards.
14. PRIVATE PLACEMENT OR PREFRENTIAL ISSUES [ Clause- 3 (xiv) ]
According to information and explanations given to us and based on our examination of the records of the Company, the Company has not made any preferential allotment or private placement of shares of fully or partly convertible debentures during the year.
15. NON- CASH TRANSACTIONS [ Clause-3(xv) ]
According to information and explanations given to us and based on our examination of the records of the Company, the Company has not entered into non - cash transactions with directors or persons connected with him. Accordingly ,paragraph 3 (xv) of the order is not applicable.
16. REGISTER UNDER RBI ACT,1934 [ Clause-3(xvi) ]
The Company is not required to be registered under section 45-IA of the Reserve Bank of India Act,1934.
Dated: 25.04.2016 Place: Kashipur
Address HO: Ambika Bhawan,: Bazpur Road, Kashipur Dist. U.S. Nagar-2447/3 ( Uttarakhand)
Phone : 05947-275188 Mobile : 9837471847
Einail :[email protected]
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Figures as at the end of Current reporting period on
31.03.2016
100,000 15,031,342
672,576 2,118,006
171,776,511 8,644,194 1,391,226
199,733,855
11,517,209 15,178,424 2,632,000
68,672,898 45,590,438 4,387,238
51,755,649 0
199,733,855
Note No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
For and on behalf of Board
fr.0vJ
DIRECTOR DIRECTOR
As per our report of even date attached FOR KUMAR KHANNA CHARTERED ACCOUNTANT
NA FCA M.No. 70664
* KASIIIPUIt 1, 101 I IC PAR
DATED : 25.04.2016 PLACE : KASHIPUR
NANOFIL TECHNOLOGIES PRIVATE LIMITED, REGD. OFFICENo.19, IInd Floor, Main Building, R.N.Mukherjee Road, Kolkata ( WB)
BALANCE SHEET AS AT 31st March' 2016
S.NO.
PARTICULARS A) EQUITY AND LIABILITIES
1 ) Shareholder's Funds a) Share Capital b) Reserve and Surplus c) Money received against share warrants 2) Share Application Money Pending Allotment 3) Non-Current Liabilities a) Long term Borrowing b) Deferred Tax Liabilities ( Net) c) Other long-term liabilities 4) Current Liabilities a) Short-term Borrowings b) Trade Payables c) Other Current Liabilities d) Short-term Povisions
B) ASSETS 1) Non-Current Assets a) Fixed Assets I) Tangible Assets ii) Intangible Assets- R & D
b) Non-current investments 2) Current Assets a) Current investments b) Inventories c) Trade Receivables d) Cash and Cash Equivalents e) Short-term loans and advances f) Other current assets
Significant Accounting Policies and Notes on financial statements
(Amount in INR.)
Figures as at the end of Previous reporting period on
31.03.15
100,000 13,048,953
409,686 2,135,099
100,265,020 56,175,608
1,477,672 173,612,037
8,686,600 20,029,843
43,208,835 42,280,768 4,320,468
55,085,521 0
173,612,037
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Figure for the Current reporting year ended on
31.03.2016
Figure for the Previous reporting year ended on
31.03.2015
Particulars
Note No.
I Revenue from Operations a) Sales & Receipts
II Other Income
IV Expenses
15
16 III. Total Revenue ( I +II)
325,429,780 0
- 12,179,902 27,033,958
354,578
6,018,033 40,132,479
386288,927
17
18
19
20
9
21
As per our report of even date attached FOR KUMAR KHANNA CHARTERED ACCOUNTA
\ PARTNER o. 7066
DATED : 25.04.2016
PLACE : KASHIPUR
* KASllI1Ipl
(""
KHANNA
NANOFIL TECHNOLOGIES PRIVATE LIMITED, ng, R.N.Mukherjee Road, Kolkata
STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED ON 31.03.16
REGD. OFFICE : Flat No.19, IInd Floor Main Builds ( WB)
S.NO.
389,416,752 1,982,312
391,399,064 Cost of Materials Consumed Purchase of Stock-in-Trade Changes in inventories of finished goods, work-in-progress and stock-in-trade Employee Benefit Expenses Financial Costs
f) Depreciation and Amortization Expenses g) Other Expenses
Total expenses
TParoxfit before exceptional and Extraodinary items and VVI Exceptional & Extra Ordinary Items 4,610,137
a) Exceptional Items 22
b) Extra Ordinary Items 23 973,632 VII Tax Expenses :
1) Current tax expense for current year 1,391,226 2) Current tax expense relating to prior years
3) Deferred Tax
VIII Profit/(Loss) After Tax
453,189,239 2,052,954
455 242 193
380,400,225 0
2,004,901 26,697,787
60,350
5,239,591 36,194,308
450 597,161
4,645,031
2,888,657
1,186,807
85,672
4,261,209
a) b) c)
d) e)
262,890
1(982,389.
Significant Accounting Policies and Notes on financial statements
For and on behalf of Board
DIRECTOR DIRECTOR
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Year ended
31.03.2016
Year ended 31.03.2015
1,982,389 6,261,209
l'ItNIC714 (C)
PARTNE29j/%0" 66
PLACE: KASHIPUR
DATED: 25.04.2016
As per our Report of even date
FOR KUMAR KIIA
CIIARTERED ACC
\--Th •.N KHANNA
6,018,033
1,391,226 262,890
354,578 5,239,591
1,477,672 85,672
65,479
5,017
10,009,116 13,134,640
(28,075,859)
(25,464,062)
(3,309,670)
697,873
63,991,245 60,763,540
2,436,539
791,166
23,980,077 (78,008,920)
5,913,334 (883,036)
(1,477,672) (698,111)
4,435,662 (1,581,147)
(3,997,222) (3,690,000) (663,150)
(3,997,222) (4,353,150)
(354,578) (65,479)
(17,093) 2,135,099
(371,671)
66,770
4,320,468
4,387,238
(3,864,677)
8,185,145
4,320,468
2,069,620
For and on behalf of Board of Directors of
NANOFIL TECHNOLOGIES PRIVATE LIMITED
DIRECTOR DIRECTOR
NANFIL TECH PRIVATE D REGD. OFFICE : Flat No.19, IIndO
Floor, Main BuildiNOLOGIES
ng, R.N.Mukherjee Road,LIMITE
Kolkata ( WB) CASH FLOW STATEMENT
A. CASH FLOW FROM OPERATING ACTIVITIES Net Profit after tax and extraordinary items Adjustments for:
Depreciation & Ammortization Interest Expenses (Net)
Provision for Income Tax
Provision for Deferred Tax Liability
Adjusted For Pre-Operative Exp. W/Off
Operating Profit before Working Capital Changes Adjustments for:
- Current Assets & Loan and Advances Inventories
Sundry Debtors
Loans & Advances ( other Assets)
- Current Liabilities & Provisions Current Liabilities
Cash Generated from Operations
Direct taxes paid (net of refunds)
Net Cash from Operating Activities
B CASH FLOW FROM INVESTING ACTIVITIES Purchase of fixed assets
R & D Expenditure Capitalized
Net Cash used in Investing Activities
C CASH FLOW FROM FINANCING ACTIVITIES Interest
Loans and Advances
Net Cash from Finance Activities
Net Increase in Cash & Cash Equivalents
Cash & Cash Equivalents (Opening Balance)
Cash & Cash Equivalents (Closing Balance)
Notes to the Cash Flow Statement (Indirect Method):
I) Cash & Cash equivalents consists of cash on hand and balances with banks
2) Figures for the previous years have been regrouped/re-cast wherever necess ary.
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As at 31/03/2016 Amount (Rs.)
As at 31/03/2015 Amount (Rs.)
500,000 500,000
100,000 100,000
S.No. I
Name
'Equity Shares with voting Rights 1 FLEXITUFF INTERNATIONAL LIMITED
Total
NANOFIL TECHNOLOGIES PRIVATE LIMITED„
NOTES FRAMING PART OF BALANCE SHEET AS AT 31ST MARCH 2015
Note ; 1 : Share Capital
Particulars
Authorised Share Capital (5,000 Equity Share of INR 10/-each) fully paid up
2 Issued, Subscibed & Fully Paid Up 10000 (Prey. Year) Equity Share of INR 10 Each
S.No.
1
The company has only one class of shares referred to as Equity Shares having at per value of Rs.10/-each holder of Equity shares is entitiled to one vote per shares.
The company has not issued any shares other than cash since its inception.
Details of shares held by each share holder holding more than 5% shares.
31st March 2016 31st March 2015
0/0 of holding
10000* 100%
No of Share % of holding I No of Share
100% 1 10000* 100% 10000* 100%
10000*
S.NO. 31st March 2015
* Note : Ten fully paid up equity shares of the company are held in the name of nominee of company.
RECONCILIATION OF OPENING & CLOSING OUTSTANDING NUMBER OF EQUITY SHARES
Equity Shares Subscribed
31st March 2016
10,000
Number Opening Balance Fresh Issue
Closing Balance
NOTE -2 : RESERVE & SURPLUS
Number
10,000
10,000
Amount
100,000
100,000
Amount
100,000
100,000
Bonus Issue
10,000
i) Profit & Loss Account
a) Opening Balance
b) Addition during the period
c) Addition of Last year MAT CREDIT
Less : Utilization during the period
d) Closing Balance
13,048,953 1,982,389
6,787,743 6,261,209
15,031,342 13,048,953 Total
Note-3 ; SHARES APPLCIATION MONEY PENDING ALLOTMENT Amount of Share Application money towards Equity Shares.
No of Shares proposed to be issued period before which share are to be alloted.
15,031 342
0
13,048,953
0
Note-4 :NON CURRENT LIABILITIES
SECURED TERM LOANS :
UNSECURED TERM LOANS :
Note-5 : OTHER LONG TERM LIABILITIES Long Term Borrowings
a) Vehicle Loan from Punjab National Bank, Kashipur
Less: Current maturities of Long Term debt Nature of Security : Term Loan from bank is secured by Hypothecation of Tata city ride Bus.
Terms of Repayment: The entire bank loan is
repayable in total repayment period of 84 months,
The bank's rate of interest is @ 13%p.a. on reducing balance.
2,529,426 2,885,129
411,420 750,030
2,118,006 2,135,099
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Particulars S.No.
NOTE-6: TRADE PAYABLES a) Trade Payables
As at 31/03/2016 As at 31/03/2015 Amount (Rs.) Amount (Rs.)
171,776,511 100,265,020 b) Bill discounting Payable
0 0
Total 171,776,511
35,258,463
443,098 27,000
5,000
131,194 65,674 58,231
750,030
53,357 128,488
0 240,455
100,265,020
55,072,956
0 467, 467,581
31,500
0 209352,
775538, 134, 134,945
67, 67,186
66,557 411,420
310254,
50, 50,262 191,249 27, 27,000
263,913
1,352,209
1,538,775
3,254,310
7,856,907
,182 48
3,405 16,948
0 79,772
6,046 50,900 4,629
0 30,848
3,000 3, 3,000
560,566 966,522
0 0 0
75,415 0
787,288 40,706 1,102,651 Total
8,644,194 56,175,608
0 290,865 1,391,226 1,186,807
Total 1,391,226 1,477,672
NOTE-07 : CURRENT LIABILITIES
Other Current Liabilities z a) Advances From FIL
b) Outstanding Expenses
c) Audit Fees Payable
d) Director Fees Payable
e) Outstanding Salary & wages
f) Customer Credit Balances g) Unpaid Salary & Wages
h) Unpaid GoodWork Reward
i) Unpaid Bonus
j) Current Maturities of Long Term Debt k) Cheque Issued But Not Presented
I) E.S.I.C. Payable
m) PF & EPF Payable
n) Retaintion Money (Contractor)
o) Good Work Payable
Tax Payable :
a) Income Tax (TDS) on Contracts b) Income Tax (TDS) on Commission c) Income Tax (TDS) on Professional Fees d) Income Tax(TCS)on Waste Sale e) Service Tax Payable
f) Income tax ( TDS) on Rent g) Commercial Tax Payable
h) Income tax ( TCS) on Waste Sale
i) Excise Duty payable j) Income Tax Deducted at source on Salary
NOTE-08: SHORT TERM PROVISIONS a) Provisions for Income Tax A.Y. 14 - 15 b) Provisions for Income Tax
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NOTE-10 :Non-Current Investments a) Security Deposit b) FDR with Punjab National Bank
NOTE- 11 : Inventories ( As Der AS-2) (Taken as valued & Certified by the Management)
i) Raw materials (At Cost) ii) Stores & Spare parts (At Cost)
iii) Material In Transit
b) Semi Finished Goods (At Realisable Value) a) Finished Goods (At Realisable Value)
i) Punjab National Bank, Kashipur#0262002100032143 ii) Punjab National Bank, Mahuakhera#6924005900000029
iii) State Bank of India, Kashipur #31825442771 iv) Liability for Stale Cheques v) ICICI Bank Ltd., Kashipur#160105000313
vi) State Bank of India, Pithampur#00000031835364527 vii) Axis Bank Ltd, Kashipur #915020048122378
147794 ,,
2,862918
34,082
0
64,481
82,665
1,011,947 Total
NOTE-14 ;LOANS & ADVANCES (Unsecured, Considered Good)
I Advance to Staff and Workers II Advance to Suppliers
S.No. Particulars As at 31/03/2016
As at 31/03/2015 Amount (Rs.) Amount (Rs.)
NOTE-12 : TRADE RECEIVABLES
(Unsecured, Considered Good) Exceeding six months from the date they are due for
i) payment
ii) Others
Total
10,000 2,622,000
2,632,000
33,392,394
0 0
394392,
2,807,887 3,097,428
0 2,011,358
8, 918, 8,786,142
23,553,756 11,506,574
Total 68 672 898
43 208 835
14,138,388 9,619,964
31,452,050 32,660,804
Total 45,590 438
42,280 768 NOTE-13 :CASH & CASH EQUIVALENTS
A) Cash in Hand : ( as certified by management) i) Cash at Factory
ii) Others 183,351
B) Balance with Scheduled Banks: 0
In Current Accounts
183,351
105,777
0 105,777
220,661
2,035,608
18,354
-61,758
24,685
1,977,141 4,203,887 0 4,214,691
4,387,238 4,320,468
73,053 14,938
27,861,676 52,282,425
20,238,562 0
680,000 0
821,000 0
290,033 426,539
0 69,234
1,354,517 1,739,431
18,482 330,111
552,954 0
88,214 3,582,357 0 2,788,158
51,755,649 55,085,521
III) Advances to FIL ( A related party as defined in AS-18) Advance recoverable in cash or in kind or value to be
Iv) received : a) Sales Tax Deposid Under Protest (2011 - 12) b) Security Deposit for Sales Tax Appeals (2012
- 13) c) Prepaid Exenses d) Vat Input Tax Receivable
Balance with Excise Authorities ( Modvat / Cenvat setoff e) receiveable) f) IncomeTax Refund Receivable
g) TDS ( F.Y. 15 - 16) h) Interest Accrued on Bank's FDR but not due
Total
- s -
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Total 389,416,752 4531 189 239 .....------ NOTE-16 :OTHER INCOME
a) Interest Received
As at 31/03/2016 As at 31/03/2015 Amount (Rs.)
Amount (Rs.)
49,363,235 0
374,479,368 495,259,131
41,722,601 382,120,002 47,004,892 448,254,239 0
7,296,750 4,935,000
S.No. Particulars
iii) JOB WORK RECEIPTS
b) Miscellaneous Receipts/Balance W/off c) Income Related to Prior Period d) Accrued Interest
NOTE-17:RAW MATERIAL CONSUMED I) Raw Material Consumed ii) Stores Consumed
iii) Purchase Trading
NOTE-18: INCREASE / DECREASE IN STOCK a) Finished Goods - Ink & Compound b) Semi Finished at Shop Floor - Ink c) Semi Finished at Shop Floor -Compound I) Less: Opening Stock a) Finished Goods - Ink & Compound b) Semi Finished at Shop Floor - Ink c) Semi Finished at Shop Floor -Compound
NOTE19 : EMPLOYEE BENEFIT EXPENSES
Total
Total
Total
Total
488910, 474
44,350
0
1,910,488
27'474
296,432,384
28,997,397
0
1 982 312
0.00
2,052 954
318,508,395 61,891,830
0 0
325,429,780 380,400,225
8,918,862 23,553,755
0 32,472,616
8,786,142 11,506,573
0 20,292,715
22,297,615
8,786,142 11,506,573
0
20,292,715
11,974,125
8,960,824 1,362,666
12,179,902 -2,004,901
397,297 18,442,250 1,357,532 6,404,183
432,696 6,772,857
181,883 18,447,111 1,093,369
202,567
a) Labour charges b) Factory Salary & Wages & Bonus c) Provident Fund & ESI Contribution d) Administrative Salaries & Allowances e) Staff & Workmen Welfare Expenses
NOTE-20: FINANCIAL COST
Total
27 033 958 26,697,787
0 186,537 168,041
25,834 34,516
0
a) Finance Charges and Interest: b) Bank Commission & Charges c) LC and BG Charges
354,578 60,350
NOTE-1S: SALES & RECEIPTS i) EXPORT SALES
a) Manufacturing Sales
ii) DOMESTIC SALES: a) Manufacturing Sales
Less: Excise Duty b) Trading Sales
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21 : OTHER EXPENSES Amount (Rs.) Amount (Rs.)
S.No. Particulars
i) (A) :MANUFACTURING EXPENSES
As at 31/03/2016 As at 31/03/2015
a) Power & Fuel b) Rent of Buildino and Plant & Machinery on Lease
14,168,916
916 168, c) Repairs to Machinery & others 1,905,177
1,842,135
225,987 16,300,080 120,137 18,232,791
d) Import Clearing Expenses & Freight e) Factory Expenses 0
1,640 555,460 11,730 584,139
Total 16-855 540
'18 816,930
( B ) :ADMINISTRATIVE EXPENSES
7,500 iv) Insurance Charges 7, 5,000
145 , 275 iii) Legal and Professional Fees: 145, 42,870
552 , 382 v) Miscellaneous Expenses: 552, 51,611
359,570 ii) Vehicle Running Expenses: 359, 153,552
a) Professional Charges b) Auditors Remunaration 142,644 c) Director Sitting Fees 30,000
i) Postage & Telephone Expenses:
835,460 35,000
a) Conveyance Charge 267,596 b) Filing Fees 239,853
4,000 c) House Keeping Expense 4, 8,097
d) Licence & Registration 1,131,787
787131, 70,100 e) Membership & Subscription 70,
32,840 227,872 f) Office Expense 227,
239,220 173,600 g) Stationery & Printing Expense 173,
133,309 7,988 h) Intrest on Vehicle Loan
534 4 344,534 33,730
i) Other Rates & Taxes 5,129 j) Service Tax 254,080 22,890 k) Amortisation of Pre-Operative Expense
375,992 339,681
0 5,017 I) Fine & Penalty 200 m) Office Rent
400 2,400 n) Staff Training & Recruitment Expenses 28,400
194,212 0
Total
( C ) : SELLING EXPENSES
ii) Freight & Cartage Inward :
a) Freight on Stores (Inward) 300,724 b) Freight on Raw Material (Inward) 300,
259,171 114,833 c) Loading & Unloading Exp 114,
290,265 138,263
22,973
4 989 548 2,616,451
11,027,886 12,885,337
25,000 68,000
3,743,003 157,106
875,460 792,182
274,136 220,490
140,341 45,419
563,276 484,392
1,291,150 108,000
18,287,391 14,760,926
4,599,136 0 973,632 1,710,479
973,632 2,888,657
i) Freight & Cartage Outward: a) On Domestic Sales b) on JOB Work ii) Rebate & Discount iii) Travelling Expenses Staff iv) Inspection Charges v) Business Promotion Expenses
vi) Sampling Expenses vii) Commission on Sale viii) Central Sale Tax
Total
22: EXCEPTIONAL ITEMS
23: EXTRA ORDINARY ITEMS Earlier Years Income (Note No. 27 (9)
Earlier Year's Expenses (Note No. 27 (9)
347,140
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24: CONTINGENT LIABILITIES / COMMITMENTS Sales Tax Liablites F.Y. 2011 - 12 Sales Tax Liablites F.Y. 2012 - 13 845,978
1,772,001 280,000
2,617,979 280,000
25: PAYMENT TO AUDITORS FOR THE YEAR As Auditors
For Taxation Matter 35,000
30,000 18,500 10,000
For other Services - Limited Review and Certification Work 18,500 20,000
72 000 60,000
26: RELATED PARTY DISCLOSURk (Pursuant to AS-181
Details of related parties with whom transactions have been taken place and relationships as under: (As identified by management)
Name of Related parties:
Flexituff International Limited
Nature of Transaction
Rent
Relationship
Holding Company
1,802,400
Sales of Goods (FIL, Kashipur Unit) 64,901,576 Sales of Goods (FIL, DTA Unit)
122,760,032 Sales of Goods (FIL, SEZ Unit)
48,091,195
Services Rendered (lob Work) 7,296,750
Purchase of Goods (FIL, Kashipur Unit) 86,750,545 Purchase of Goods (FIL, DTA Unit) 10,368,456 Purchase of Goods (FIL, SEZ Unit)
137,500
- 8 -
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NOTE NO 27:
NOTES FORMING PART OF ACCOUNTS FOR THE YEAR ENDED ON MARCH 3IsT,2016. SIGNIFICANT ACCOUNTING POLICIES
I. BASIS OF ACCOUNTING: The financial statements are prepared under the historical cost convention on accrual basis of accounting and in accordance with the Generally Accepted Accounting Principles, as adopted consistently by the Company. PRE-OPERATIVE EXPENSES The company has amortized within five years the entire pre-operative expenses incurred till commencement of commercial operations .
3. FIXED ASSETS : (AS-10) In addition to existing Leased Assets, the company has acquired/created its own fixed assets viz Plant & Machinery, Electric Installations, Office Equipments & Staff Bus. ,For existing operating Leased Assets , rentals are expensed with reference to lease terms & other considerations.
/1. INVENTORIES : (AS-2) Items of inventories are measured at lower of cost and net realizable value after providing for obsolescence .if any . Cost of inventories comprises of cost of purchase, cost of conversion. The method of valuation employee for valuation of inventories is consistent with previous year . The basis of valuation adopted during the year for valuation of inventories is :- Raw Material & Stores at Cost and Finished Goods & Semi Finished Goods at realizable value
5. Excise Duty/ Service Tax
Fxcise duty/Service Tax accounted on the basis of both payments made in respect of goods cleared /services provided . Sales Tax /Value added Tax paid is charged to profit & Loss account .
6. Employee Benefits
As per Accounting Standard-15 , Contribution to defined schemes such as Provident Fund are charged to Profit & Loss account . Policy for other retirement benefits is under frame by the company.
7. Accounting for Taxes on Income (AS-22)
Provision for current Tax is made , in accordance with applicable provisions of Income Tax Act,1961
8. Revenue Recognition Policy (AS-9)
Revenue from sales of Finished Stocks is accounted for on the basis of bills raised to customers & is inclusive of Excise duty / service Tax , CST & Vat adjusted for discounts, if any.
9. Prior Period Expenses ( AS-5) ( Ind.AS-8) During current year- NIL ( during Previous year - Interest income Rs 5413516.00 earned from M/s Azcon Commodities Brokers Pvt Ltd during financial year 2013-14 were omitted to be accounted for in the revenue income of the co. for FY 2013-14 which has been accounted for during the current financial year 2014-15.
During current year the company has paid Rs 559161.00 of Income tax liability for FY 2011-12 , on 20.04.2015, during FY 2015-16. ( during previous year the company has also booked prior period expenditure of Rs 1831260.00 related to the tax liability paid on the above income on revision of Income Tax Return of the company during current year. During current financial year the company has passed a journal entry which was omitted to be passed in the books of account of company in the FY 2013-14, of TDS receivable for Rs 347801.00 in adjusting the revised income tax liability for the same financial year.
During the financial year 2014-15, the company has made the short income tax provision by Rs 66670.00, which has been provided for in the books of account of company in the financial year 2015-16.
10. Contingent Liabilities There are contingent liabilities on account of payment before appellate authorities .
!abilities under dispute , due to pending appeals
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. interim Financial Reporting: ( AS-25) :
The interim financial reporting on limited review of quarterly financial statements has been performed during the year.
12 The balances in respect of Sundry Debtors, Creditors, Security Deposit, Loans & Advances etc are subject to the confirmation.
13.The company has filed a Civil Suit no 567/14 under Negotiable Instrument Act,1881 in the court of Civil Judge, Kashipur against one of its party , M/S Auto Decor Pvt Ltd ,who has willfully dishonoured payment of cheque amounting Rs 1.00 Lakh ,issued to the company for goods purchased by them. As per customers control ledger , the same party owes book debt payment amounting Rs 77.89 Lakh to the company for the goods purchased at its various oHires ,and the payment is outstanding for the period beyond agreed credit period allowed. As per latest developments
and according to informations and cexplanations given to us by the management, the abovenamed party has closed its business existed at Tehsil Kichha District US Nagar. However, the court proceedings are going on.
14. In the opinion of the management, the Current Asset, Loans & Advances have value to the extent stated, equal to its realizable value, in ordinary course of business.
15. The company is enjoying concessional sales tax @ 1% on its inter state sales.
16. Additional information pursuant to the provision of paragraph 3 & 4 Part II of schedule VI of the companies Act, 1956.
17. Deferred Tax Liability ( AS-22)
AS ON
31.03.16 AS ON
31.03.15
ON ACCOUNT OF F.A
NET BLOCK AS PER BOOKS 11517208.76 8,686,599.85
NET BLOCK AS PER INCOME TAX RULES 9340587.88 7360,753.88
TIMING DIFFERENCE 2176620.89 1,325,845.97
TAX RATE 30.90% 30.90% 30.90%
CLOSING DEFFERED TAX LIABLITY AS ON 31.3.2016 672576.00 409686.00 LESS: OPENING LIABILITY AS ON
01.04.2015 409686.00 3,24,014.00
NI T PROVISION FOR F.Y 2015-16 262890.00 85,672.00
18. Payment to Auditors Current Year Previous year
Audit Fee 35,000.00 30,000.00 'Taxation 18,500.00 10,000.00 Other Fee 18,500.00 20,000.00 TOTAL 72,000.00 60,000.00
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19 Payments to Director':
1. Mr. B.L Mundra : Rs. 500.00 for Sitting Fess 2. Mr. Mohd. Haneef Sheikh : Rs.3000.00 for Sitting Fees 3. Mr. Sivaraman Srinivasan : Rs. 4000.00 for sitting Fees
20 Break up of expenditure incurred on employees who were in receipt of remuneration not Less than Rs. 60,00,000/- in aggregate for the period or Rs. 5,00,000/- per month, if employed for the part of period :
CURRENT YEAR PREVIOUS YEAR
Employed throughout the year
Part of the year Employed throughout the year
Part of the year
l, NIL NIL NA NA
Nil
Allowances NIL Nil P.F. etc. 0 NIL 0.00 Nil
II) No. of employees NIL NIL NA
21. Related Party Disclosures:(a) As per SA-550, Accounting Standard 18 ( Ind. AS-24) the disclosures of transactions with related parties as defined in the Accounting Standard are given below:
SNo Name of the Related Party
Relationship 01 M/S FlexiTuff International Ltd Holding Company
& iIts units
( i ) M/S FlexiTuff International Ltd ( Holding Co.) Holding Share Capital of Rs 99990.00 (99.90%)
(ii) M/S Flexituff International Ltd SEZ, Indore (Business Transactions during the year Sales :4,80,91,195.00 purchases Rs.1,37,500.00. Rent Rs 2400.00 Closing Balance NIL Previous year Sales: Rs.6,03,38,980.00 Purchase Rs 11,55,240.00 Rent Rs. 2400.00 Closing Balance NIL as on 31.03.2015 .
(iii) M/S Flexituff International Ltd ,DTA ( Business Transactions during the year Sales Rs.12,27,60,032.00 , Job work 72,96,750.00 purchase Rs. 1,03,68,456.00 closing balance.NIL (Previous Year Sales Rs 11,79,59,212.00,
Job Work Rs 49,35,000.00, Purchases Rs 4,19,78,026.00 Closing Balalnce Rs nil as on 31.3.2015)
v) M/S Flexituff International Ltd ,Kashipur Business Transactions sales Rs.6,49,01,576.00 Purchases Rs. 8,67,50,545.00 Lease 18,00,000.00 Power 1,41,68,196.00 closing Balance is Dr. 2,02,38,562.00.( Last Year Sales Rs 15,01,37,819.00 Purchase Rs 6,96,41,094.00 , Lease Rent 18,00,000.00 Power Bal Rs.1,62,60,519.00 Closing Balance Cr. Rs 3,52,58,463
22 QUANTITATIVE INFORMATION : CLASS OF GOODS MANUFACTURED Capacities (as certified by the management, being a technical matter)
kRTICULARS CURRENT YEAR PREVIOUS YEAR
tensed Capacity k iditive Master Batch )lour Master Batch )Iymer Compound Iler Master Batch
_ .
1800 TPA 2400 TPA
600 TPA 6000 TPA 3000 TPA
1800 TPA 2400TPA
600TPA 6000TPA
3000 TPA 'stalled Capacity
:Waive Master Batch )lour Master Batch ilymer Compound ler Master Batch
1800 TP4 2400 TPA
2600 TPA* 6000 TPA 3000 TPA
1800 TPA 2400 TPA
600 TPA 6000 TPA 3000 TPA
:tual Production ik iditive Master Batch )lor Master Batch ilymer Compound filer Master Batch 35 Compound /Inn -A rnmnnuunr1
l's KH A •,, )
'7
365.57 TPA 120.20 TPA 1438.42 TPA 1330.08 TPA
0.00 TPA 187.71 TPA
8.95 TPA
688.58TPA 90.376 TPA
1245.44 TPA 1466.57 TPA
0.00 TPA 217.06 TPA
36.41 TPA
P
Li In A
Fi
II
A C Pc Fi
A II A C PI Fi A ni
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astage ( Scrap) 29.84 TPA
'mover (Qty) < dative Master Batch lor Master Batch lymer Compound ler Master Batch S Compound 'Ion -6 Compound astage
358.88 TPA 115.50 TPA
1447.42 TPA 1341.34TPA
0.00 TPA 191.54 TPA
7.12 TPA 36.28 TPA
694.88 TPA 93.71 TPA
1236.55 TPA 1441.70 TPA
7.22 TPA 239.42 TPA
42.71 TPA 36.71 TPA
!mover (Value) k 75383512.00 120149577.00 ditive Master Batch 22239325.00 18726400.00 dor Master Batch 154381760.00 141352601.00 lymer Compound 105894563.00 128675364.00 Itior Master Batch 0.00 34066090.00 ,1., Compound 23003235.00 5493853.00 Ion -6 Compound 1114740.00 90354.00 astage 102867.00 0.00 )ening Stock (Qty) < 13.37 TPA 19.70 TPA ditive Master Batch 1.82 TPA 4.56 TPA lor Master Batch 10.43 TPA 1.53 TPA lymer Compound 34.00 TPA 9.13 TPA ler Master Batch 0.00 TPA 7.82 TPA , S Compound 6.93 TPA 29.29 TPA Ion -6 Compound 8.32 TPA 14.63 TPA astage 8.40 TPA 17.94 TPA
)ening Stock (Value) < 2614600.00 3295855.00 ditive Master Batch 2 273450.00 889697.00
, lor Master Batch 1563900.00 237770.00 lymer Compound 2608426.00 867160.00 ler Master Batch 0.00 348407.00
Compound 831960.00 3807440.00 ton -6 Compound 1051845.00 1770109.00
astage 125340.00 757687.00
sing Stock (Qty) < 20.06 TPA 13.37 TPA
ditive Master Batch 6.52 TPA 10.43 TPA
lor Master Batch 1.43 TPA 1.82 TPA
lymer Compound 22.74 TPA 34.00 TPA
ler Master Batch 0.00 TPA 0.00 TPA
S Compound 3.10 TPA 6.93 TPA
Ion -6 Compound 10.16 TPA 8.32 TPA
astage 1.96 TPA 8.40 TPA
Dsing Stock Finished (Value) < 4226355.00 2614600.00 ditive Master Batch 978060.00 273450.00 lor Master Batch 214650.00 1563900.00 lymer Compound 1818960.00 2608426.00 ler Master Batch 0.00.00 C.00 S Compound 372374.00 831960.00 .un - () Compound 1279167.70 1051845.00 astage 29294.55 125340.00
* As informed to us by the management, the application for increase of Licensed capacity of "Colour master Batch" is being filed with concerned deptt., however,the company has reported during the year the expansion in installed capacity of the product/ article " Color Master Batch" from 600 TPA to 2600 TPA.
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23 .Raw Material Consumed :
CURRENT YEAR Qty.(MT) Value (Rs)
PREVIOUS YEAR Qty.(MT) Value (Rs)
Ink ( additive) 105.47 34003078.00 96.034 44455188.00 Calcium Powder 403.82 5796348.00 409.22 5259126.00 Master Batch (additive) 224.76 60590141.00 199.87 35850183.00 LLDPE/HDPE 285.25 33261357.00 302.47 36974551.00 PP Compound 1050.39 65345175.00 842.44 43809569.00 RP Granules 0.00 0.00 0.00 0.00 PP Granules 1150.98 97436284.00 1318.14 150497573.00 Solvent 281.29 23397121.00 639.29 61891830.00
24. C.I.F. and C. & F. VALUE OF IMPORT CURRENT YEAR PREVIOUS YEAR
Qty. (Mt) Value (Rs) Qty. (Mt) Value (Rs) (Imported)
III Low Flow High 147.50 11647224.00 20.20 2034720.00
HRG( ABS) Powder 15.00 1227540.00 20.10 2924400.00
Fiber Glass for ABS 40.00 2186862.00 20.90 1306240.00
San Reprocessed 0.00 0.00 20.00 2379960.00
Titanium Dioxide 0.00 0.00 20.07 3383870.00
MDPE 22.20 1866026.00 78.80 9720776.04
25. VALUE AND CONSUMPTION OF IMPORTED AND INDIGENOUS RAW MATERIAL RAW MATERIAL, STORES, & SPARES AND ITS PERCENTAGE TO TOTAL CONSUMPTION
CURRENT YEAR PREVIOU YEAR
Value (Rs in Lacs) AGE Value (Rs in Lacs) 0/0 AGE
PAW MATERIAL
I) IMPORTED 16927652.00 5.71% 21749966.00 6.83% II) INDIGENOUS 279504732.00 94.29% 296758429.00 93.17% TOTAL 296432384.00 318508395.00 STORES & SPARES I) IMPORTED 0.00 0.00 11) INDIGENOUS 23397121.00 100% 56787320.00 100 °/0
PACKING MATERIAL
I) IMPORTED 0.00 0.00 II) INDIGENOUS 5600276.00 100°/0 5104510.00 100%
26.TRANSACTION INCURED IN FOREIGN CURRENCY :
CURRENT YEAR PREVIOUS YEAR
RAW MATERIAL J.S.DOLLAR ( RM D urchase)
310825 334096
STORES & SPARES NA J.S.DOLLAR DIRECTOR'S TRAVELLING NA J.S.DOLLAR & EURO ,-:-.-0, KH,
'7
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FOR KUMAR KHANNA CHARTER _ACCOUNTA
XA B. ANNA )F. C. A. A R MN070664
27. The cash flow statement has been prepared in accordance with Accounting Standard-3.
28 F.O.B. VALUE OF EXPORTS NIL
29. Previous year figures have been regrouped/rearranged wherever considered necessary. 30. The above information's are supplied by the management and the same is relied upon by us
Place: Kashipur Dated: 25.04.2016
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Products Description: II I DIP E
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Right Issue:
Private Placement
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Reserve & Surplus:
Unsecured Loans:
Current Liabilities
Registration Details Registration No
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, I IV Performance of the Company (Amount in Rs. in Lakh):
Total Expenditure 3 1 8 1 6 4
Profit before Tax 4
Dividend Rs per Share 2 0
1 9 8 Farning per Share in Rs.
1_1 ieneric Names of Principal Products / Services of the Company:
m Code No. (ITC Code):
1 1 T-1-- ,1 Descrition: p
Item Code No.(ITC Code): 1
Product Description : PIP COMP()
Item Code No.(ITC Code):
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1 9 1 9 7 1
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NANOFIL TECHNOLOGIES PVT LTD
Capital Raised during the year ( Anjou
0 0 F
9 1 7 9
0 1
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2 11 1 1
Public Issue :
1_L Bonus Issue
Po s ition of' Mobilization and deployment 1,,I I 1.1hilities:
11F Source of Fund: Paid t Lp Ca ita 101o1-61
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Deferred Tax Liabilities
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