VLCC Profit Loss 2012.pdf
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VLCC HEALTH CARE LIMITEDStandalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
[400100] Disclosure of general information about company
Unless otherwise specified, all monetary values are in INR
01/04/2011
to
31/03/2012
01/04/2010
to
31/03/2011
Name of company VLCC HEALTH CARE LIMITED
Corporate identity number U74899DL1996PLC082842
Permanent account number of entity AAACC4808P
Address of registered office of company
M - 1 4 G r e a t e rKailash-II,, CommercialC o m p l e x , N e w D e l h i ,Delhi, INDIA, 110048
Type of industryC o m m e r c i a l a n dIndustrial
Date of board meeting when final accounts were approved 06/07/2012
Period covered by financial statements 12 Months 12 Months
Date of start of reporting period 01/04/2011 01/04/2010
Date of end of reporting period 31/03/2012 31/03/2011
Nature of report standalone consolidated Standalone
Content of report Statement of Profit & Loss
Description of presentation currency INR
Level of rounding used in financial statements Actual
Total number of product or service category Two
Disclosure of principal product or services [Table] ..(1)
Unless otherwise specified, all monetary values are in INRTypes of principal product or services [Axis] Ser1 Ser2
01/04/2011
to
31/03/2012
01/04/2011
to
31/03/2012
Disclosure of general information about company [Abstract]
Disclosure of principal product or services [Abstract]
Disclosure of principal product or services [LineItems]
Product or service category (ITC 4 digit) code 9997 9992
Description of product or service category Wellness Education Service
Turnover of product or service category 223,65,63,987 20,31,43,043
Highest turnover contributing product or service (ITC 8 digit) code 99972300 99924202
Description of product or serviceBeauty & SlimmingService
Tution Fee
Unit of measurement of highest contributing product or service Various Various
Turnover of highest contributing product or service 223,65,63,987 20,31,43,043
Quantity of highest contributing product or service in UoM 1 1
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
[100200] Statement of profit and loss
Unless otherwise specified, all monetary values are in INR
01/04/2011
to
31/03/2012
01/04/2010
to
31/03/2011
Statement of profit and loss [Abstract]
Disclosure of revenue from operations [Abstract]Disclosure of revenue from operations for other than finance company[Abstract]
Revenue from sale of products 10,73,99,943 10,25,12,637
Revenue from sale of services 248,13,00,910 224,23,12,309
Other operating revenues 0 0
Excise duty 0 0
Service tax collected 0 0
Other duties taxes collected 0 0
Total revenue from operations other than finance company 258,87,00,853 234,48,24,946
Disclosure of revenue from operations for finance company [Abstract]
Revenue from interest 0 0
Revenue from other financial services 0 0
Total revenue from operations finance company 0 0
Total revenue from operations 258,87,00,853 234,48,24,946 Other income 1,95,88,280 3,37,31,174
Total revenue 260,82,89,133 237,85,56,120
Expenses [Abstract]
Cost of materials consumed 19,66,40,003 16,38,71,672
Purchases of stock-in-trade 8,33,18,337 8,01,82,490
Changes in inventories of finished goods, work-in-progress andstock-in-trade
-12,68,939 -34,22,061
Employee benefit expense 78,89,16,340 75,75,44,618
Finance costs 12,64,64,515 6,42,72,829
Depreciation, depletion and amortisation expense [Abstract]
Depreciation expense 19,21,39,941 16,21,07,144
Amortisation expense 74,89,276 59,49,929
Depletion expense 0 0
Total depreciation, depletion and amortisation expense 19,96,29,217 16,80,57,073
Expenditure on production, transportation and other expenditurepertaining to E&P activities
0 0
Other expenses 109,52,15,098 102,56,89,816
Total expenses 248,89,14,571 225,61,96,437
Total profit before prior period items, exceptional items, extraordinaryitems and tax
11,93,74,562 12,23,59,683
Prior period items before tax 0 0
Exceptional items before tax 0 0
Total profit before extraordinary items and tax 11,93,74,562 12,23,59,683
Extraordinary items before tax 0 0
Total profit before tax 11,93,74,562 12,23,59,683
Tax expense [Abstract]
Current tax 5,57,00,000 4,78,71,995
Deferred tax -1,64,97,550 -1,41,15,084 Total tax expense 3,92,02,450 3,37,56,911
Total profit (loss) for period from continuing operations 8,01,72,112 8,86,02,772
Profit (loss) from discontinuing operations before tax 0 0
Tax expense of discontinuing operations 0 0
Total profit (loss) from discontinuing operation after tax 0 0
Total profit (loss) for period before minority interest 8,01,72,112 8,86,02,772
Profit (loss) of minority interest 0 0
Share of profit (loss) of associates 0 0
Total profit (loss) for period 8,01,72,112 8,86,02,772
Additional disclosure on discontinuing operations [Abstract]
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Pre-tax gain or loss recognised on disposal of assets orsettlement of liabilities attributable to discontinuingoperations
0 0
Earnings per equity share [Abstract]
Basic earning per equity share [shares] 36.43 [shares] 48.41
Diluted earnings per equity share [shares] 36.43 [shares] 48.41
Basic earning per equity share before extraordinary items [shares] 36.43 [shares] 48.41
Diluted earnings per equity share before extraordinary items [shares] 36.43 [shares] 48.41
Nominal value of per equity share [shares] 10 [shares] 10
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
[300500] Notes - Subclassification and notes on income and expenses
Unless otherwise specified, all monetary values are in INR
01/04/2011
to
31/03/2012
01/04/2010
to
31/03/2011
Subclassification and notes on income and expense explanatory [TextBlock]
Disclosure of revenue from sale of products [Abstract]Revenue from sale of products [Abstract]
Revenue from sale of products, gross 10,73,99,943 10,25,12,637
Brokerage discounts rebates on revenue from sale of products 0 0
Returns on revenue from sale of products 0 0
Other allowances deductions on revenue from sale of products 0 0
Total revenue from sale of products 10,73,99,943 10,25,12,637
Disclosure of revenue from sale of services [Abstract]
Revenue from sale of services [Abstract]
Revenue from sale of services, gross 248,13,00,910 224,23,12,309
Brokerage discounts rebates on revenue from sale of services 0 0
Returns on revenue from sale of services 0 0
Other allowances deductions on revenue from sale of services 0 0
Total revenue from sale of services 248,13,00,910 224,23,12,309
Disclosure of other operating revenues [Abstract]
Other operating revenues [Abstract]
Net gain/loss on foreign currency fluctuations treated as otheroperating revenue
0 0
Miscellaneous other operating revenues 0 0
Total other operating revenues 0 0
Disclosure of other income [Abstract]
Interest income [Abstract]
Interest income on current investments [Abstract]
Interest on fixed deposits, current investments 3,15,528 2,86,818
Interest from customers on amounts overdue, current investments 0 0
Interest on current intercorporate deposits 0 0
Interest on current debt securities 61,715 74,850
Interest on current government securities 0 0
Interest on other current investments 76,513 57,734
Total interest income on current investments 4,53,756 4,19,402
Interest income on long-term investments [Abstract]
Interest on fixed deposits, long-term investments 0 0
Interest from customers on amounts overdue, long-term investments 0 0
Interest on long-term intercorporate deposits 0 0
Interest on long-term debt securities 0 0
Interest on long-term government securities 0 0
Interest on other long-term investments 0 0
Total interest income on long-term investments 0 0
Total interest income 4,53,756 4,19,402
Dividend income [Abstract]
Dividend income current investments [Abstract]
Dividend income current investments from subsidiaries 0 0
Dividend income current equity securities 0 0
Dividend income current mutual funds 0 53,397
Dividend income current investments from others 0 0
Total dividend income current investments 0 53,397
Dividend income long-term investments [Abstract]
Dividend income long-term investments from subsidiaries 0 1,50,00,000
Dividend income long-term equity securities 0 0
Dividend income long-term mutual funds 0 0
Dividend income long-term investments from others 0 0
Total dividend income long-term investments 0 1,50,00,000
Total dividend income 0 1,50,53,397
Net gain/loss on sale of investments [Abstract]
Net gain/loss on sale of current investments 0 0
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Net gain/loss on sale of long-term investments 4,54,383 50,354
Total net gain/loss on sale of investments 4,54,383 50,354
Rental income on investment property [Abstract]
Rental income on investment property, current 0 0
Rental income on investment property, long-term 24,00,000 24,00,000
Total rental income on investment property 24,00,000 24,00,000
Other non-operating income [Abstract]
Net gain/loss on foreign currency fluctuations treated as otherincome
18,57,671 3,63,021
Surplus on disposal, discard, demolishment and destruction of
depreciable tangible asset
0 0
Gain on disposal of intangible asset 0 0
Amount credited to profit and loss as transfer fromrevaluation reserve on account of additionaldepreciation charged on revalued tangible assets
0 0
Excess provision diminution in value investment written back 0 0
Excess provisions bad doubtful debts advances written back 7,34,043 6,22,100
Income government grants subsidies 0 0
Income export incentives 0 0
Income import entitlements 0 0
Income insurance claims 0 0
Income from subsidiaries 0 0
Interest and income tax refund 0 0
Income on brokerage commission 0 0
Income on sales tax benefit 0 0
Excess provisions written back 1,02,24,645 33,93,042
Other allowances deduction other income 0 0
Miscellaneous other non-operating income 34,63,782 1,14,29,858
Total other non-operating income 1,62,80,141 1,58,08,021
Income from pipeline transportation 0 0
Total other income 1,95,88,280 3,37,31,174
Share other income joint ventures 0 0
Disclosure of finance cost [Abstract]
Interest expense [Abstract]
Interest expense long-term loans [Abstract]
Interest expense long-term loans, banks 10,59,18,349 4,98,58,001
Interest expense long-term loans, others 0 0
Total interest expense long-term loans 10,59,18,349 4,98,58,001
Interest expense short-term loans [Abstract]Interest expense short-term loans, banks 0 0
Interest expense short-term loans, others 0 0
Total interest expense short-term loans 0 0
Interest expense deposits 0 0
Interest expense debt securities 0 0
Interest expense other borrowings 0 0
Interest expense borrowings 0 0
Interest lease financing 0 0
Other interest charges 18,58,954 15,51,109
Total interest expense 10,77,77,303 5,14,09,110
Other borrowing costs 1,86,87,212 1,28,63,719
Net gain/loss on foreign currency transactions and translationstreated as finance costs
0 0
Total finance costs 12,64,64,515 6,42,72,829 Share finance costs joint ventures 0 0
Employee benefit expense [Abstract]
Salaries and wages 51,41,93,096 50,32,19,043
Contribution to provident and other funds [Abstract]
Contribution to provident and other funds for contract labour 0 0
Contribution to provident and other funds for others 2,44,90,005 3,08,83,992
Total contribution to provident and other funds 2,44,90,005 3,08,83,992
Expense on employee stock option scheme and employee stock purchase plan 0 0
Commission employees 20,80,42,698 17,86,27,723
Employee medical insurance expenses 0 0
Leave encashment expenses 0 0
Gratuity 0 0
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Pension schemes 0 0
Voluntary retirement compensation 0 0
Other retirement benefits 0 0
Staff welfare expense 4,21,90,541 4,48,13,860
Other employee related expenses 0 0
Total employee benefit expense 78,89,16,340 75,75,44,618
Share employee benefit expense joint ventures 0 0
Breakup of other expenses [Abstract]
Consumption of stores and spare parts 0 0
Power and fuel 7,01,51,447 6,56,27,375
Rent 39,84,44,318 34,29,96,488 Repairs to building 1,40,53,132 1,23,24,529
Repairs to machinery 96,11,190 1,28,22,437
Insurance 63,10,209 68,80,390
Rates and taxes excluding taxes on income [Abstract]
Central excise duty 0 0
Purchase tax 0 0
Other cess taxes 0 0
Cost taxes other levies by government local authorities 61,47,833 56,85,440
Provision wealth tax 0 0
Total rates and taxes excluding taxes on income 61,47,833 56,85,440
Research development expenditure 0 0
Subscriptions membership fees 17,41,751 18,13,119
Electricity expenses 0 0
Telephone postage 2,55,59,108 2,82,45,043
Printing stationery 1,42,44,291 1,55,74,256
Information technology expenses 0 0
Travelling conveyance 7,72,76,659 7,43,02,728
Catering canteen expenses 0 0
Entertainment expenses 0 0
Legal professional charges 6,02,92,102 6,21,77,361
Training recruitment expenses 0 0
Vehicle running expenses 25,11,339 20,43,691
Safety security expenses 1,47,35,571 1,39,97,572
Directors sitting fees 2,40,000 3,60,000
Managerial remuneration [Abstract]
Remuneration to directors [Abstract]
Salary to directors 62,16,000 80,56,070
Commission to directors 0 0
Other benefits to directors 0 0
Total remuneration to directors 62,16,000 80,56,070
Remuneration to managers [Abstract]
Salary to managers 0 0
Commission to managers 0 0
Other benefits to managers 0 0
Total remuneration to managers 0 0
Total managerial remuneration 62,16,000 80,56,070
Donations subscriptions 15,30,153 5,74,769
Books periodicals 0 0
Seminars conference expenses 0 0
Registration filing fees 0 0
Custodial fees 0 0 Bank charges 0 0
Guest house expenses 0 0
Advertising promotional expenses 21,95,31,613 21,23,38,498
After sales service expenses 0 0
Warranty claim expenses 0 0
Commission paid sole selling agents 0 0
Commission paid other selling agents 0 0
Commission paid sole buying agents 0 0
Transportation distribution expenses 0 0
Secondary packing expenses 0 0
Discounting charges 0 0
Guarantee commission 0 0
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Cost repairs maintenance other assets 2,82,02,227 2,30,99,622
Cost information technology [Abstract]
Cost software 0 0
Cost hardware 0 0
Cost communication connectivity 0 0
Total cost information technology 0 0
Cost insurance 0 0
Cost transportation [Abstract]
Cost freight 0 0
Cost octroi 0 0
Cost loading and unloading 0 0 Cost other transporting 0 0
Total cost transportation 0 0
Cost lease rentals 0 0
Cost effluent disposal 0 0
Provision for cost of restoration 0 0
Cost warehousing 0 0
Cost water charges 0 0
Cost reimbursable expenses 0 0
Cost technical services 0 0
Cost royalty 12,54,471 0
Provision bad doubtful debts created 0 0
Provision bad doubtful loans advances created 0 0
Adjustments to carrying amounts of investments [Abstract]
Provision diminution value current investments created 0 0
Provision diminution value long-term investments created 0 5,00,000
Total adjustments to carrying amounts of investments 0 5,00,000
Net provisions charged [Abstract]
Provision warranty claims created 0 0
Provision statutory liabilities created 0 0
Provision restructuring created 0 0
Other provisions created 0 0
Total net provisions charged 0 0
Discount issue shares debentures written off [Abstract]
Discount issue shares written off 0 0
Discount issue debentures written off 0 0
Total discount issue shares debentures written off 0 0
Write-off assets liabilities [Abstract]
Miscellaneous expenditure written off [Abstract]
Financing charges written off 0 0
Voluntary retirement compensation written off 0 0
Technical know-how written off 0 0
Other miscellaneous expenditure written off 0 0
Total miscellaneous expenditure written off 0 0
Fixed assets written off 0 12,19,851
Inventories written off 0 0
Investments written off 0 0
Bad debts written off 5,37,295 18,42,236
Bad debts advances written off 3,23,123 45,07,158
Other assets written off 0 0
Liabilities written off 0 0
Total write-off assets liabilities 8,60,418 75,69,245 Loss on disposal of intangible asset 0 0
Loss on disposal, discard, demolishment and destruction of depreciabletangible asset
53,17,108 39,05,159
Contract cost [Abstract]
Site labour supervision cost contracts 0 0
Material cost contract 0 0
Depreciation assets contracts 0 0
Cost transportation assets contracts 0 0
Hire charges assets contracts 3,04,02,970 2,84,03,679
Cost design technical assistance contracts 0 0
Warranty cost contracts 0 0
Other claims contracts 0 0
Sale material scrap other assets contracts 0 0
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Overhead costs apportioned contracts [Abstract]
Insurance cost apportioned contract 0 0
Design technical assistance apportioned contracts 0 0
Other overheads apportioned contracts 0 0
Total overhead costs apportioned contracts 0 0
Total contract cost 3,04,02,970 2,84,03,679
Cost dry wells 0 0
Operating and maintenance cost of emission and other pollutionreduction equipments
0 0
Payments to auditor [Abstract]
Payment for audit services 16,79,000 14,60,000 Payment for taxation matters 0 0
Payment for company law matters 0 0
Payment for management services 0 0
Payment for other services 5,00,000 5,00,000
Payment for reimbursement of expenses 1,60,411 1,49,623
Total payments to auditor 23,39,411 21,09,623
Payments to cost auditor [Abstract]
Payment for cost audit charges 0 0
Payment for cost compliance report 0 0
Payment for other cost services 0 0
Payment to cost auditor for reimbursement of expenses 0 0
Total payments to cost auditor 0 0
Miscellaneous expenses 9,82,41,777 9,42,82,722
Total other expenses 109,52,15,098 102,56,89,816 Breakup of expenditure on production, transportation and other
expenditure pertaining to E&P activities [Abstract]
Royalty pertaining to E&P activities 0 0
Cess pertaining to E&P activities 0 0
Education cess pertaining to E&P activities 0 0
National calamity contingency duty pertaining to E&P activities 0 0
Extraction cost pertaining to E&P activities 0 0
Sales tax pertaining to E&P activities 0 0
Geological and geophysical expenditure pertaining to E&P activities 0 0
Administrative expenditure pertaining to E&P activities 0 0
Research and development expenditure pertaining to E&P activities 0 0
Pipeline operation and maintenance expenditure pertaining to E&Pactivities
0 0
Other expenditure pertaining to E&P activities 0 0 Total expenditure on production, transportation and other
expenditure pertaining to E&P activities0 0
Current tax [Abstract]
Current tax pertaining to previous years 0 -1,28,005
Current tax pertaining to current year 5,57,00,000 4,80,00,000
MAT credit recognised during year 0 0
Total current tax 5,57,00,000 4,78,71,995
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
[300600] Notes - Additional information statement of profit and loss
Details of raw materials, spare parts and components consumed [Table] ..(1)
Unless otherwise specified, all monetary values are in INR
Details of raw materials, spare parts and components consumed [Axis]Raw materials spare parts and
components consumed [Member]Raw materials consumed [Member]
Subclassification of raw materials, spare parts and components
consumed [Axis] Imported and indigenous [Member] Imported and indigenous [Member]
01/04/2011
to
31/03/2012
01/04/2010
to
31/03/2011
01/04/2011
to
31/03/2012
01/04/2010
to
31/03/2011
Additional information on profit and loss account[Abstract]
Details of raw materials, spare parts and componentsconsumed [Abstract]
Details of raw materials, spare parts andcomponents consumed [LineItems]
Value consumed 19,66,40,003 16,38,71,672 19,66,40,003 16,38,71,672
Percentage of consumption 100.00% 100.00% 100.00% 100.00%
Details of raw materials, spare parts and components consumed [Table] ..(2)
Unless otherwise specified, all monetary values are in INRDetails of raw materials, spare parts and components consumed [Axis] Raw materials consumed [Member]
Subclassification of raw materials, spare parts and components
consumed [Axis]Imported [Member] Indigenous [Member]
01/04/2011
to
31/03/2012
01/04/2010
to
31/03/2011
01/04/2011
to
31/03/2012
01/04/2010
to
31/03/2011
Additional information on profit and loss account[Abstract]
Details of raw materials, spare parts and componentsconsumed [Abstract]
Details of raw materials, spare parts andcomponents consumed [LineItems]
Value consumed 2,66,34,317 2,57,42,189 17,00,05,686 13,81,29,483
Percentage of consumption 14.00% 16.00% 86.00% 84.00%
Details of raw materials consumed [Table] ..(1)
Unless otherwise specified, all monetary values are in INRCategories of raw materials consumed [Axis] Raw materials consumed [Member] Raw materials consumed 1 [Member]
01/04/2011
to
31/03/2012
01/04/2010
to
31/03/2011
01/04/2011
to
31/03/2012
01/04/2010
to
31/03/2011
Additional information on profit and loss account[Abstract]
Additional details in case of manufacturing companies[Abstract]
Details of raw materials consumed [Abstract]
Details of raw materials consumed [LineItems]
Description of raw materials category Consumables Consumables Consumables Consumables
Total raw materials consumed 19,66,40,003 16,38,71,672 19,66,40,003 16,38,71,672
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Details of goods purchased [Table] ..(1)
Unless otherwise specified, all monetary values are in INRCategories of goods purchased [Axis] Goods purchased [Member] Goods purchased 1 [Member]
01/04/2011
to
31/03/2012
01/04/2010
to
31/03/2011
01/04/2011
to
31/03/2012
01/04/2010
to
31/03/2011
Additional information on profit and loss account[Abstract]
Additional details in case of manufacturing companies
[Abstract]Details of goods purchased [Abstract]
Details of goods purchased [LineItems]
Description of goods purchased Goods for Resale Goods for Resale Goods for Resale Goods for Resale
Total goods purchased 8,33,18,337 8,01,82,490 8,33,18,337 8,01,82,490
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Unless otherwise specified, all monetary values are in INR
01/04/2011
to
31/03/2012
01/04/2010
to
31/03/2011
Additional information on profit and loss account explanatory [TextBlock]
Share cost of materials consumed joint ventures 0 0
Share purchases of stock-in-trade joint ventures 0 0
Share depreciation and amortisation expense joint ventures 0 0
Share other expenses joint ventures 0 0
Changes in inventories of finished goods 0 0
Changes in inventories of work-in-progress 0 0 Changes in inventories of stock-in-trade -12,68,939 -34,22,061
Changes in other inventories 0 0
Total changes in inventories of finished goods, work-in-progress andstock-in-trade
-12,68,939 -34,22,061
Share changes in inventories of finished goods, work-in-progressand stock-in-trade joint ventures
0 0
Exceptional items before tax 0 0
Tax effect of exceptional items 0 0
Total exceptional items 0 0
Attachment of property of enterprise 0 0
Earthquake 0 0
Other items extraordinary 0 0
Total extraordinary items before tax 0 0
Tax effect of extraordinary items 0 0
Total extraordinary items 0 0
Total exceptional and extraordinary items 0 0
Prior period income before tax 0 0
Prior period expense before tax 0 0
Total prior period items before tax 0 0
Tax effect on prior period items 0 0
Total prior period items after tax 0 0
Revenue communication services 0 0
Revenue roadway operations 0 0
Revenue waterway operations 0 0
Revenue airway operations 0 0
Revenue logistics transport services 0 0
Revenue courier services 0 0
Revenue infrastructure services 0 0 Revenue software development 0 0
Revenue hardware maintenance 0 0
Revenue information technology consultancy 0 0
Revenue information technology services 0 0
Revenue hotels 0 0
Revenue hospitals healthcare clinics 223,65,63,987 202,79,81,138
Revenue entertainment 0 0
Revenue repairs maintenance 0 0
Revenue educational activities 20,31,43,043 18,10,61,893
Revenue membership subscriptions fees 0 0
Revenue admission fees 0 0
Revenue erectioning commissioning 0 0
Revenue agencies 0 0
Revenue advertising publicity 0 0 Revenue value added services 0 0
Revenue real estate property development 0 0
Revenue other services 0 0
Revenue lease rentals 0 0
Revenue hire charges 0 0
Revenue job work 0 0
Revenue domestic contracts 0 0
Revenue foreign contracts 0 0
Total revenue contracts 0 0
Revenue royalties 2,78,58,759 2,56,89,279
Revenue technical know-how 0 0
Revenue franchise 1,37,35,121 75,79,999
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Revenue licenses 0 0
Revenue intangible assets 0 0
Total gross income from services rendered 248,13,00,910 224,23,12,309
Aggregate amount set aside to provisions made for meetingspecific liabilities, contingencies or commitments
0 0
Aggregate amount withdrawn from such provisions made formeeting specific liabilities, contingencies or commitmentsno longer required
0 0
Write down of inventories to net realizable value 0 0
Reversal of write down of inventories to net realizable value 0 0
Cost of restructuring of enterprise 0 0
Reversal of cost of restructuring of enterprise 0 0
Expenses on legislative changes having retrospective application 0 0
Income on legislative changes having retrospective application 0 0
Expense on litigation settlements 0 0
Income on litigation settlements 0 0
Other reversals of provisions 0 0
Dividends from subsidiary companies 0 1,50,00,000
Provisions for losses of subsidiary companies 0 0
Value of imports of raw materials 1,29,17,464 4,75,73,637
Value of imports of components and spare parts 0 0
Value of imports of capital goods 2,24,68,136 4,75,36,784
Total value of imports calculated on CIF basis 3,53,85,600 9,51,10,421
Expenditure on royalty 0 0
Expenditure on know-how 0 0 Expenditure on professional and consultation fees 0 0
Expenditure on interest 0 0
Expenditure on other matters 1,47,40,004 1,38,22,575
Total expenditure in foreign currency 1,47,40,004 1,38,22,575
Final dividend remitted in foreign currency 6,40,937 2,51,56,960
Interim dividend remitted in foreign currency 0 0
Special dividend remitted in foreign currency 0 0
Total amount of dividend remitted in foreign currency 6,40,937 2,51,56,960
Total number of non-resident shareholders 2 1
Total number of shares held by non-resident shareholders on whichdividends were due
[shares] 6,49,251 [shares] 37,93,686
Year to which dividends relate 31/03/2011 31/03/2010
FOB value of manufactured goods exported 0 0
FOB value of traded goods exported 64,40,299 77,54,681 Total earnings on export of goods calculated on FOB basis 64,40,299 77,54,681
Earnings on royalty 0 0
Earnings on know-how 0 0
Earnings on professional and consultation fees 0 0
Total earnings on royalty, know-how, professional andconsultation fees
0 0
Earnings on interest 0 0
Earnings on dividend 0 0
Total earnings on interest and dividend 0 0
Earnings on other income 0 0
Total earnings in foreign currency 64,40,299 77,54,681
Amount of revenue received in foreign currency from services 0 0
Insurance and freight on exports 0 0
Profit in foreign currency on sale of assets 0 0 Commission brokerage and discount charges in foreign currency 0 0
Professional charges in foreign currency 0 0
Bank and finance charges in foreign currency 0 0
Logistic charge in foreign currency 0 0
Foreign tax 0 0
Sales marketing and advertising expenses in foreign currency 0 0
Meeting expenses in foreign currency 0 0
Research and development expenses in foreign currency 0 0
Intangible asset charges in foreign currency 0 0
Membership and subscription expenses in foreign currency 0 0
Insurance charges in foreign currency 0 0
Telecommunication expenses in foreign currency 0 0
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Profits or losses from partnership firms or association ofpersons or limited liability partnerships
0 0
Financial effect of deviation from accounting standards profit andloss account
0 0
Amount of contributions made to political party or for politicalpurpose
0 0
Amount of contributions made to national defence fund 0 0
Cost incurred by holding company for issuing options orshares under employee stock option or stock purchase scheme
0 0
Cost reimbursed by subsidiary company for issuing optionsor shares under employee stock option or stock purchase
scheme
0 0
Domestic sale manufactured goods 0 0
Domestic sale traded goods 10,09,59,644 9,47,57,956
Total domestic turnover goods, gross 10,09,59,644 9,47,57,956
Export sale manufactured goods 0 0
Export sale traded goods 64,40,299 77,54,681
Total export turnover goods, gross 64,40,299 77,54,681
Total revenue from sale of products 10,73,99,943 10,25,12,637
Domestic revenue services 248,13,00,910 224,23,12,309
Export revenue services 0 0
Total revenue from sale of services 248,13,00,910 224,23,12,309
Capital expenditure in foreign currency 0 0
Expenditure on corporate social responsibility activities as perguidelines
0 0
[200800] Notes - Disclosure of accounting policies, changes in accounting policies and estimates
Unless otherwise specified, all monetary values are in INR
01/04/2011
to
31/03/2012
01/04/2010
to
31/03/2011
Disclosure of accounting policies, change in accounting policies andchanges in estimates explanatory [TextBlock]
Textual information (1)[See below]
Textual information (2)[See below]
Disclosure of general information about company [TextBlock]Textual information (3)[See below]
Textual information (4)[See below]
Changes in accounting estimate and accounting policy explanatory
[TextBlock]Amount of changes in accounting estimate having material effect incurrent period
0 0
Amount of changes in accounting estimate having material effect insubsequent period
0 0
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Textual information (1)
Disclosure of accounting policies, change in accounting policies and changes in estimates explanatory [Text Block]
1 Corporate Information
VLCC Health Care Limited (the Company) was incorporated in India on October 23, 1996 to carry on the business of maintaining and runningbeauty, slimming, fitness and health centres at various locations, sale of beauty products and also provide vocational training at various institutes.The company is closely held with 308,119 shares held by Leon International Limited, Mauritius, 341,132 shares held by Indivision India Partners,Mauritius, 56,432 shares held by VLCC Employee Welfare Trust and the balance shares held by individuals.
The accompanying financial statements reflect the results of the activities undertaken by the Company during the year ended March 31, 2012.
2 Summary of significant accounting policies
2.1 Basis of accounting and preparation of financial statements
The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (IndianGAAP) to comply with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and therelevant provisions of the Companies Act, 1956. The financial statements have been prepared on accrual basis under the historical cost
convention. The accounting policies adopted in the preparation of the financial statements are consistent with those followed in the previous year.
2.2 Use of estimates
The preparation of financial statements in conformity with Indian GAAP requires the Management to make estimates and assumptions consideredin the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. TheManagement believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ dueto these estimates and the differences between the actual results and the estimates are recognized in the periods in which the results are known/materialise.
2.3 Inventories
Inventories are valued at lower of cost (on FIFO basis) and net realisable value. Cost includes all expenses incurred in bringing the goods to theirpresent location including octroi and other levies, transit insurance and receiving charges.
2.4 Cash and cash equivalents
Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an original maturity of threemonths or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which aresubject to insignificant risk of changes in value.
2.5 Cash flow statement
Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects oftransactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investingand financing activities of the Company are segregated based on the available information.
2.6 Depreciation and amortisation
Depreciation on all tangible fixed assets, except leasehold improvements is provided on the straight line method over the estimated useful life ofthe assets at rates specified in Schedule XIV to the Companies Act, 1956. Leasehold improvements are amortised over the period of lease,
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
including the optional period of lease.
Depreciation on addition to fixed assets is provided on pro-rata basis from the date the assets are acquired/installed. Depreciation onsale/deduction from fixed assets is provided for upto the date of sale, deduction, discardment as the case may be.
All assets costing Rs.5,000 or below are depreciated in full on pro-rata basis from the date of their acquisition.
Intangible assets are amortised over their estimated useful life as follows:
Goodwill and Brand- 10 years
Cinematographic film - 5 years
Computer software- 6 years
The estimated useful life of the intangible assets and the amortization period are reviewed at the end of each financial year and the amortizationmethod is revised to reflect the changed pattern.
2.7 Revenue recognition
Income from services
Revenue from fees received from clients towards beauty and slimming packages are recognised on a pro-rata basis over the period of the packageafter attributing revenue to services rendered on enrolment. Fees related to unexecuted period of the packages are recorded as Advances fromcustomers' as per the terms of specific contracts.
Revenue from regular beauty sales are recognised as services are provided to the customers.
Revenue in respect of tuition fees received from students is recognised over the period of the course after attributing revenue to services rendered
on enrolment. Fees are recorded at invoice value, net of discounts if any.
Revenue in respect of non-refundable lump sum fees received from the franchisee's is recognised on execution of the agreement. Revenue inrespect of non-refundable lump sum fees received from the collaborators is recognised over a period of five years.
Revenue in respect of royalty received from the franchisee's is recognised on accrual basis at the end of each month in terms of the agreement.
Sale of goods
Revenue from sale of goods at each of the centres is recognised on delivery of goods to the customers. Sales are recorded at invoice value, net ofdiscount if any.
2.8 Other income
Income from interest on time deposits is recognised on the time proportion method taking into consideration the amount outstanding and theapplicable interest rates.
Dividend income from investments is recognised when the right to receive payment is established.
2.9 Tangible fixed assets
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Fixed assets are stated at cost, less accumulated depreciation and impairment losses, if any. Cost includes original cost of acquisition, includingincidental expenses related to such acquisition and installation. The cost of fixed assets includes interest on borrowings attributable to acquisitionof qualifying fixed assets up to the date the asset is ready for its intended use and other incidental expenses incurred up to that date.
Capital work-in-progress:
Projects under which assets are not ready for their intended use and other capital work-in-progress are carried at cost, comprising direct cost,related incidental expenses and attributable interest.
2.10 Intangible assets
Intangible assets are stated at cost less accumulated amortization and impairment losses, if any. The cost of an intangible asset comprises itspurchase price, including any import duties and other taxes (other than those subsequently recoverable from the taxing authorities), and anydirectly attributable expenditure on making the asset ready for its intended use and net of any trade discounts and rebates.
Subsequent expenditure on an intangible asset after its purchase / completion is recognised as an expense when incurred unless it is probable thatsuch expenditure will enable the asset to generate future economic benefits in excess of its originally assessed standards of performance and suchexpenditure can be measured and attributed to the asset reliably, in which case such expenditure is added to the cost of the asset.
2.11 Foreign currency transactions and translations
Initial recognition
Transactions denominated in foreign currencies are recorded at the exchange rates prevailing on the date of the transaction.
Measurement of foreign currency monetary items at the Balance Sheet date
Monetary items denominated in foreign currencies at the year-end are restated at the exchange rates prevailing on the date of the Balance Sheet.Non-monetary items denominated in foreign currencies are carried at cost.
Treatment of exchange differences
Exchange differences arising on settlement / restatement of short-term foreign currency monetary assets and liabilities of the Company arerecognized as income or expense in the Statement of Profit and Loss.
The exchange differences arising on settlement / restatement of long-term foreign currency monetary items are amortised on settlement / over thematurity period of such items if such items do not relate to acquisition of depreciable fixed assets.
2.12 Share of Surplus of Collaborators
Surplus payable to the collaborators in respect of jointly managed centres is accrued either as a percentage of gross margin or fees received asspecified in the agreement.
2.13 Investments
Long-term investments are carried individually at cost less provision for diminution, other than temporary, in the value of such investments.Current investments are carried individually, at the lower of cost and fair value. Cost of investments include, acquisition charges such asbrokerage, fees and duties.
2.14 Employee benefits
Employee benefits include provident fund, gratuity fund and compensated absences.
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Defined contribution plans
In accordance with the provisions of the Employees Provident Funds and Miscellaneous Provisions Act, 1952, eligible employees of theCompany are entitled to receive benefits with respect to provident fund, a defined contribution plan in which both the Company and the employeecontribute monthly at a determined rate (currently 12% of employee's basic salary). Company's contribution to Provident Fund is charged as anexpense in the Statement of Profit and Loss.
Defined benefit plans
Benefits payable to eligible employees of the Company with respect to gratuity, a defined benefit plan is accounted for on the basis of an actuarialvaluation as at the balance sheet date. In accordance with the Payment of Gratuity Act, 1972, the plan provides for lump sum payments to vestedemployees on retirement, death while in service or on termination of employment in an amount equivalent to 15 days basic salary for eachcompleted year of service. Vesting occurs upon completion of five years of service. The company contributes all the ascertained liabilities to afund set up by the company and administered by a board of trustees. The present value of such obligation is determined by the projected unitcredit method and adjusted for past service cost and fair value of plan assets as at the balance sheet date through which the obligations are to besettled. The resultant actuarial gain or loss on change in present value of the defined benefit obligation or change in return of the plan assets isrecognised as an income or expense in the Statement of Profit and Loss. The expected return on plan assets is based on the assumed rate of returnof such assets.
Long-term employee benefits
Compensated absences payable to employees of the Company while in service, on retirement, death while in service or on termination ofemployment with respect to accumulated leaves outstanding at the year-end are accounted for on the basis of an actuarial valuation as at thebalance sheet date.
2.15 Employee share based payments
The Company has formulated employee Stock Option Plan as approved and modified by Compensation Committee / Board of Directors of theCompany from time to time. The Plan provides for grant of Stock Options to eligible employees of the Company and its subsidiaries to acquireequity shares of the Company that vest in a graded manner and that are to be exercised within a specified period. The options are to be convertedinto one share at a predetermined price to be exercised in accordance with the plan. The exercise price of the options shall be fair market value onthe date of grant per option. Under the approved plan, the company has issued shares to the VLCC Employee Welfare Trust at fair market valuedetermined on the date of issue which is holding the shares on behalf of the employees.
2.16 Borrowing costs
Borrowing costs that are attributable to the acquisition, construction or production of qualifying assets are capitalised as part of cost of that asset.Other borrowing costs are recognised as an expense in the Statement of Profit and Loss in the period in which they are incurred. Capitalisation ofborrowing costs is suspended and charged to the Statement of Profit and Loss during extended periods when active development activity on thequalifying assets is interrupted. In accordance with an opinion received from the expert advisory committee of the Institute of CharteredAccountants of India, the company has during the year capitalized borrowing costs in respect of construction of qualifying assets completedwithin a period of five to seven months.
2.17 Segment reporting
The Company identifies primary segments based on the dominant source, nature of risks and returns and the internal organisation andmanagement structure. The operating segments are the segments for which separate financial information is available and for which operatingprofit/loss amounts are evaluated regularly by the executive Management in deciding how to allocate resources and in assessing performance.
The accounting policies adopted for segment reporting are in line with the accounting policies of the Company. Segment revenue, segmentexpenses, segment assets and segment liabilities have been identified to segments on the basis of their relationship to the operating activities ofthe segment.
Revenue, expenses, assets and liabilities which relate to the Company as a whole and are not allocable to segments on reasonable basis have beenincluded under unallocated revenue / expenses / assets / liabilities.
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
2.18 Leases
Lease arrangements where the risks and rewards incidental to ownership of an asset substantially vest with the lessor are recognised as operatingleases. Lease rentals are expensed with reference to lease terms.
2.19 Earnings per share
Basic earnings per share are calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted average
number of equity shares outstanding during the year.
Diluted earnings per share are calculated by dividing the net profit or loss for the year attributable to equity shareholders as adjusted for dividend,interest and other charges to expense or income relating to the dilutive potential equity shares, by the weighted average number of sharesoutstanding during the year as adjusted for the effects of all dilutive potential equity shares. Potential equity shares are deemed to be dilutive onlyif their conversion to equity shares would decrease the net profit per share from continuing ordinary operations. Potential dilutive equity sharesare deemed to be converted as at the beginning of the period, unless they have been issued at a later date.
2.20 Taxes on income
Income taxes consist of current taxes and changes in deferred tax liabilities and assets.
Current tax is the amount of tax payable on the taxable income for the year as determined in accordance with the provisions of the Income TaxAct, 1961. Income taxes are accounted for on the basis of estimated taxes payable and adjusted for timing differences between the taxable incomeand accounting income as reported in the financial statements. Timing differences between the taxable income and the accounting income as atMarch 31, 2012 that reverse in one or more subsequent years are recognised if they result in taxable amounts. Deferred tax assets or liabilities areestablished at the enacted tax rates. Changes in the enacted rates are recognised in the period of enactment.
Deferred tax assets are recognised only if there is a reasonable certainty that they will be realised and are reviewed for the appropriateness of theirrespective carrying values at each balance sheet date.
2.21 Impairment of Assets
Whenever events indicate that assets may be impaired, the assets are subject to a test of recoverability based on estimates of future cash flowsarising from continuing use of such assets and from its ultimate disposal. A provision for impairment loss is recognised where it is probable thatthe carrying value of an asset exceeds the amount to be recovered through use or sale of the asset. When there is an indication that an impairmentloss recognized for an asset in earlier accounting periods no longer exists or may have decreased, such reversal of impairment loss is recognizedin the Statement of Profit and Loss, except in case of revalued assets.
2.22 Provisions and contingencies
The Company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of resources and areliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is possible obligation or apresent obligation that may, but probably will not, require an outflow of resources. When there is a possible obligation or a present obligation inrespect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.
Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate. If it is no longer probable that the outflow ofresources would be required to settle the obligation, the provision is reversed.
Contingent assets are not recognised in the financial statements. However, contingent assets are assessed continually and if it is virtually certainthat an economic benefit will arise, the asset and the related income are recognized in the year in which the change occurs.
2.23 Insurance claims
Insurance claims are accounted for on the basis of claims admitted / expected to be admitted and to the extent that there is no uncertainty inreceiving the claims.
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
2.24 Service tax input credit
Service tax input credit is accounted for in the books in the period in which the underlying service received is accounted and when there is nouncertainty in availing / utilising the credits.
2.25 Material Events
Material events occurring after the Balance Sheet date are taken into cognisance.
2.26 Classification of current / non-current liabilities and assets
Liability
A liability has been classified as current when it satisfies any of following criteria:
a) It is expected to be settled in the company's normal operating cycle;
b) It is held primarily for the purpose of being traded;
c) It is due to be settled within twelve months after reporting date; or
d) The company does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.Terms of a liability that could, at the option of the counterparty, result in its settlement by issue of equity instrument do not affect itsclassification.
All other liabilities are classified as non-current.
Asset
An asset has been classified as current when it satisfies any of following criteria:
a) It is expected to be realised in, or is intended for sale or consumption in the company's normal operating cycle;
b) It is held primarily for the purpose of being traded;
c) It is expected to be realised within twelve months after reporting date; or
d) It is cash or cash equivalent unless it is restricted from being exchanged or used to settle a liability for at least twelve months after thereporting date.
All other assets are classified as non-current.
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Textual information (2)
Disclosure of accounting policies, change in accounting policies and changes in estimates explanatory [Text Block]
1 Corporate Information
VLCC Health Care Limited (the Company) was incorporated in India on October 23, 1996 to carry on the business of maintaining and runningbeauty, slimming, fitness and health centres at various locations, sale of beauty products and also provide vocational training at various institutes.The company is closely held with 308,119 shares held by Leon International Limited, Mauritius, 341,132 shares held by Indivision India Partners,Mauritius, 56,432 shares held by VLCC Employee Welfare Trust and the balance shares held by individuals.
The accompanying financial statements reflect the results of the activities undertaken by the Company during the year ended March 31, 2012.
2 Summary of significant accounting policies
2.1 Basis of accounting and preparation of financial statements
The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (IndianGAAP) to comply with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and therelevant provisions of the Companies Act, 1956. The financial statements have been prepared on accrual basis under the historical cost
convention. The accounting policies adopted in the preparation of the financial statements are consistent with those followed in the previous year.
2.2 Use of estimates
The preparation of financial statements in conformity with Indian GAAP requires the Management to make estimates and assumptions consideredin the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. TheManagement believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ dueto these estimates and the differences between the actual results and the estimates are recognized in the periods in which the results are known/materialise.
2.3 Inventories
Inventories are valued at lower of cost (on FIFO basis) and net realisable value. Cost includes all expenses incurred in bringing the goods to theirpresent location including octroi and other levies, transit insurance and receiving charges.
2.4 Cash and cash equivalents
Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an original maturity of threemonths or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which aresubject to insignificant risk of changes in value.
2.5 Cash flow statement
Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects oftransactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investingand financing activities of the Company are segregated based on the available information.
2.6 Depreciation and amortisation
Depreciation on all tangible fixed assets, except leasehold improvements is provided on the straight line method over the estimated useful life ofthe assets at rates specified in Schedule XIV to the Companies Act, 1956. Leasehold improvements are amortised over the period of lease,
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
including the optional period of lease.
Depreciation on addition to fixed assets is provided on pro-rata basis from the date the assets are acquired/installed. Depreciation onsale/deduction from fixed assets is provided for upto the date of sale, deduction, discardment as the case may be.
All assets costing Rs.5,000 or below are depreciated in full on pro-rata basis from the date of their acquisition.
Intangible assets are amortised over their estimated useful life as follows:
Goodwill and Brand- 10 years
Cinematographic film - 5 years
Computer software- 6 years
The estimated useful life of the intangible assets and the amortization period are reviewed at the end of each financial year and the amortizationmethod is revised to reflect the changed pattern.
2.7 Revenue recognition
Income from services
Revenue from fees received from clients towards beauty and slimming packages are recognised on a pro-rata basis over the period of the packageafter attributing revenue to services rendered on enrolment. Fees related to unexecuted period of the packages are recorded as Advances fromcustomers' as per the terms of specific contracts.
Revenue from regular beauty sales are recognised as services are provided to the customers.
Revenue in respect of tuition fees received from students is recognised over the period of the course after attributing revenue to services rendered
on enrolment. Fees are recorded at invoice value, net of discounts if any.
Revenue in respect of non-refundable lump sum fees received from the franchisee's is recognised on execution of the agreement. Revenue inrespect of non-refundable lump sum fees received from the collaborators is recognised over a period of five years.
Revenue in respect of royalty received from the franchisee's is recognised on accrual basis at the end of each month in terms of the agreement.
Sale of goods
Revenue from sale of goods at each of the centres is recognised on delivery of goods to the customers. Sales are recorded at invoice value, net ofdiscount if any.
2.8 Other income
Income from interest on time deposits is recognised on the time proportion method taking into consideration the amount outstanding and theapplicable interest rates.
Dividend income from investments is recognised when the right to receive payment is established.
2.9 Tangible fixed assets
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Fixed assets are stated at cost, less accumulated depreciation and impairment losses, if any. Cost includes original cost of acquisition, includingincidental expenses related to such acquisition and installation. The cost of fixed assets includes interest on borrowings attributable to acquisitionof qualifying fixed assets up to the date the asset is ready for its intended use and other incidental expenses incurred up to that date.
Capital work-in-progress:
Projects under which assets are not ready for their intended use and other capital work-in-progress are carried at cost, comprising direct cost,related incidental expenses and attributable interest.
2.10 Intangible assets
Intangible assets are stated at cost less accumulated amortization and impairment losses, if any. The cost of an intangible asset comprises itspurchase price, including any import duties and other taxes (other than those subsequently recoverable from the taxing authorities), and anydirectly attributable expenditure on making the asset ready for its intended use and net of any trade discounts and rebates.
Subsequent expenditure on an intangible asset after its purchase / completion is recognised as an expense when incurred unless it is probable thatsuch expenditure will enable the asset to generate future economic benefits in excess of its originally assessed standards of performance and suchexpenditure can be measured and attributed to the asset reliably, in which case such expenditure is added to the cost of the asset.
2.11 Foreign currency transactions and translations
Initial recognition
Transactions denominated in foreign currencies are recorded at the exchange rates prevailing on the date of the transaction.
Measurement of foreign currency monetary items at the Balance Sheet date
Monetary items denominated in foreign currencies at the year-end are restated at the exchange rates prevailing on the date of the Balance Sheet.Non-monetary items denominated in foreign currencies are carried at cost.
Treatment of exchange differences
Exchange differences arising on settlement / restatement of short-term foreign currency monetary assets and liabilities of the Company arerecognized as income or expense in the Statement of Profit and Loss.
The exchange differences arising on settlement / restatement of long-term foreign currency monetary items are amortised on settlement / over thematurity period of such items if such items do not relate to acquisition of depreciable fixed assets.
2.12 Share of Surplus of Collaborators
Surplus payable to the collaborators in respect of jointly managed centres is accrued either as a percentage of gross margin or fees received asspecified in the agreement.
2.13 Investments
Long-term investments are carried individually at cost less provision for diminution, other than temporary, in the value of such investments.Current investments are carried individually, at the lower of cost and fair value. Cost of investments include, acquisition charges such asbrokerage, fees and duties.
2.14 Employee benefits
Employee benefits include provident fund, gratuity fund and compensated absences.
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Defined contribution plans
In accordance with the provisions of the Employees Provident Funds and Miscellaneous Provisions Act, 1952, eligible employees of theCompany are entitled to receive benefits with respect to provident fund, a defined contribution plan in which both the Company and the employeecontribute monthly at a determined rate (currently 12% of employee's basic salary). Company's contribution to Provident Fund is charged as anexpense in the Statement of Profit and Loss.
Defined benefit plans
Benefits payable to eligible employees of the Company with respect to gratuity, a defined benefit plan is accounted for on the basis of an actuarialvaluation as at the balance sheet date. In accordance with the Payment of Gratuity Act, 1972, the plan provides for lump sum payments to vestedemployees on retirement, death while in service or on termination of employment in an amount equivalent to 15 days basic salary for eachcompleted year of service. Vesting occurs upon completion of five years of service. The company contributes all the ascertained liabilities to afund set up by the company and administered by a board of trustees. The present value of such obligation is determined by the projected unitcredit method and adjusted for past service cost and fair value of plan assets as at the balance sheet date through which the obligations are to besettled. The resultant actuarial gain or loss on change in present value of the defined benefit obligation or change in return of the plan assets isrecognised as an income or expense in the Statement of Profit and Loss. The expected return on plan assets is based on the assumed rate of returnof such assets.
Long-term employee benefits
Compensated absences payable to employees of the Company while in service, on retirement, death while in service or on termination ofemployment with respect to accumulated leaves outstanding at the year-end are accounted for on the basis of an actuarial valuation as at thebalance sheet date.
2.15 Employee share based payments
The Company has formulated employee Stock Option Plan as approved and modified by Compensation Committee / Board of Directors of theCompany from time to time. The Plan provides for grant of Stock Options to eligible employees of the Company and its subsidiaries to acquireequity shares of the Company that vest in a graded manner and that are to be exercised within a specified period. The options are to be convertedinto one share at a predetermined price to be exercised in accordance with the plan. The exercise price of the options shall be fair market value onthe date of grant per option. Under the approved plan, the company has issued shares to the VLCC Employee Welfare Trust at fair market valuedetermined on the date of issue which is holding the shares on behalf of the employees.
2.16 Borrowing costs
Borrowing costs that are attributable to the acquisition, construction or production of qualifying assets are capitalised as part of cost of that asset.Other borrowing costs are recognised as an expense in the Statement of Profit and Loss in the period in which they are incurred. Capitalisation ofborrowing costs is suspended and charged to the Statement of Profit and Loss during extended periods when active development activity on thequalifying assets is interrupted. In accordance with an opinion received from the expert advisory committee of the Institute of CharteredAccountants of India, the company has during the year capitalized borrowing costs in respect of construction of qualifying assets completedwithin a period of five to seven months.
2.17 Segment reporting
The Company identifies primary segments based on the dominant source, nature of risks and returns and the internal organisation andmanagement structure. The operating segments are the segments for which separate financial information is available and for which operatingprofit/loss amounts are evaluated regularly by the executive Management in deciding how to allocate resources and in assessing performance.
The accounting policies adopted for segment reporting are in line with the accounting policies of the Company. Segment revenue, segmentexpenses, segment assets and segment liabilities have been identified to segments on the basis of their relationship to the operating activities ofthe segment.
Revenue, expenses, assets and liabilities which relate to the Company as a whole and are not allocable to segments on reasonable basis have beenincluded under unallocated revenue / expenses / assets / liabilities.
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
2.18 Leases
Lease arrangements where the risks and rewards incidental to ownership of an asset substantially vest with the lessor are recognised as operatingleases. Lease rentals are expensed with reference to lease terms.
2.19 Earnings per share
Basic earnings per share are calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted average
number of equity shares outstanding during the year.
Diluted earnings per share are calculated by dividing the net profit or loss for the year attributable to equity shareholders as adjusted for dividend,interest and other charges to expense or income relating to the dilutive potential equity shares, by the weighted average number of sharesoutstanding during the year as adjusted for the effects of all dilutive potential equity shares. Potential equity shares are deemed to be dilutive onlyif their conversion to equity shares would decrease the net profit per share from continuing ordinary operations. Potential dilutive equity sharesare deemed to be converted as at the beginning of the period, unless they have been issued at a later date.
2.20 Taxes on income
Income taxes consist of current taxes and changes in deferred tax liabilities and assets.
Current tax is the amount of tax payable on the taxable income for the year as determined in accordance with the provisions of the Income TaxAct, 1961. Income taxes are accounted for on the basis of estimated taxes payable and adjusted for timing differences between the taxable incomeand accounting income as reported in the financial statements. Timing differences between the taxable income and the accounting income as atMarch 31, 2012 that reverse in one or more subsequent years are recognised if they result in taxable amounts. Deferred tax assets or liabilities areestablished at the enacted tax rates. Changes in the enacted rates are recognised in the period of enactment.
Deferred tax assets are recognised only if there is a reasonable certainty that they will be realised and are reviewed for the appropriateness of theirrespective carrying values at each balance sheet date.
2.21 Impairment of Assets
Whenever events indicate that assets may be impaired, the assets are subject to a test of recoverability based on estimates of future cash flowsarising from continuing use of such assets and from its ultimate disposal. A provision for impairment loss is recognised where it is probable thatthe carrying value of an asset exceeds the amount to be recovered through use or sale of the asset. When there is an indication that an impairmentloss recognized for an asset in earlier accounting periods no longer exists or may have decreased, such reversal of impairment loss is recognizedin the Statement of Profit and Loss, except in case of revalued assets.
2.22 Provisions and contingencies
The Company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of resources and areliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is possible obligation or apresent obligation that may, but probably will not, require an outflow of resources. When there is a possible obligation or a present obligation inrespect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.
Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate. If it is no longer probable that the outflow ofresources would be required to settle the obligation, the provision is reversed.
Contingent assets are not recognised in the financial statements. However, contingent assets are assessed continually and if it is virtually certainthat an economic benefit will arise, the asset and the related income are recognized in the year in which the change occurs.
2.23 Insurance claims
Insurance claims are accounted for on the basis of claims admitted / expected to be admitted and to the extent that there is no uncertainty inreceiving the claims.
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
2.24 Service tax input credit
Service tax input credit is accounted for in the books in the period in which the underlying service received is accounted and when there is nouncertainty in availing / utilising the credits.
2.25 Material Events
Material events occurring after the Balance Sheet date are taken into cognisance.
2.26 Classification of current / non-current liabilities and assets
Liability
A liability has been classified as current when it satisfies any of following criteria:
a) It is expected to be settled in the company's normal operating cycle;
b) It is held primarily for the purpose of being traded;
c) It is due to be settled within twelve months after reporting date; or
d) The company does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.Terms of a liability that could, at the option of the counterparty, result in its settlement by issue of equity instrument do not affect itsclassification.
All other liabilities are classified as non-current.
Asset
An asset has been classified as current when it satisfies any of following criteria:
a) It is expected to be realised in, or is intended for sale or consumption in the company's normal operating cycle;
b) It is held primarily for the purpose of being traded;
c) It is expected to be realised within twelve months after reporting date; or
d) It is cash or cash equivalent unless it is restricted from being exchanged or used to settle a liability for at least twelve months after thereporting date.
All other assets are classified as non-current.
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Textual information (3)
Disclosure of general information about company [Text Block]
VLCC Health Care Limited (the Company) was incorporated in India on October 23, 1996 to carry on the business of maintaining and runningbeauty, slimming, fitness and health centres at various locations, sale of beauty products and also provide vocational training at various institutes.The company is closely held with 308,119 shares held by Leon International Limited, Mauritius, 341,132 shares held by Indivision India Partners,
Mauritius, 56,432 shares held by VLCC Employee Welfare Trust and the balance shares held by individuals.
Textual information (4)
Disclosure of general information about company [Text Block]
VLCC Health Care Limited (the Company) was incorporated in India on October 23, 1996 to carry on the business of maintaining and runningbeauty, slimming, fitness and health centres at various locations, sale of beauty products and also provide vocational training at various institutes.The company is closely held with 308,119 shares held by Leon International Limited, Mauritius, 341,132 shares held by Indivision India Partners,Mauritius, 56,432 shares held by VLCC Employee Welfare Trust and the balance shares held by individuals.
[300100] Notes - Revenue
Unless otherwise specified, all monetary values are in INR
01/04/2011
to
31/03/2012
01/04/2010
to
31/03/2011
Disclosure of revenue explanatory [TextBlock]Textual information (5)[See below]
Textual information (6)[See below]
Share revenue from operations joint ventures 0 0
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Textual information (5)
Disclosure of revenue explanatory [Text Block]
Revenue recognition
Income from services
Revenue from fees received from clients towards beauty and slimming packages are recognised on a pro-rata basis over the period of the packageafter attributing revenue to services rendered on enrolment. Fees related to unexecuted period of the packages are recorded as Advances fromcustomers' as per the terms of specific contracts.
Revenue from regular beauty sales are recognised as services are provided to the customers.
Revenue in respect of tuition fees received from students is recognised over the period of the course after attributing revenue to services renderedon enrolment. Fees are recorded at invoice value, net of discounts if any.
Revenue in respect of non-refundable lump sum fees received from the franchisee's is recognised on execution of the agreement. Revenue in
respect of non-refundable lump sum fees received from the collaborators is recognised over a period of five years.
Revenue in respect of royalty received from the franchisee's is recognised on accrual basis at the end of each month in terms of the agreement.
Sale of goods
Revenue from sale of goods at each of the centres is recognised on delivery of goods to the customers. Sales are recorded at invoice value, net ofdiscount if any.
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Textual information (6)
Disclosure of revenue explanatory [Text Block]
Revenue recognition
Income from services
Revenue from fees received from clients towards beauty and slimming packages are recognised on a pro-rata basis over the period of the packageafter attributing revenue to services rendered on enrolment. Fees related to unexecuted period of the packages are recorded as Advances fromcustomers' as per the terms of specific contracts.
Revenue from regular beauty sales are recognised as services are provided to the customers.
Revenue in respect of tuition fees received from students is recognised over the period of the course after attributing revenue to services renderedon enrolment. Fees are recorded at invoice value, net of discounts if any.
Revenue in respect of non-refundable lump sum fees received from the franchisee's is recognised on execution of the agreement. Revenue in
respect of non-refundable lump sum fees received from the collaborators is recognised over a period of five years.
Revenue in respect of royalty received from the franchisee's is recognised on accrual basis at the end of each month in terms of the agreement.
Sale of goods
Revenue from sale of goods at each of the centres is recognised on delivery of goods to the customers. Sales are recorded at invoice value, net ofdiscount if any.
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
[202200] Notes - Effects of changes in foreign exchange rates
Unless otherwise specified, all monetary values are in INR
31/03/2012 31/03/2011
Disclosure of notes on effect of changes in foreign exchange ratesexplanatory [TextBlock]
Details of change in classification of significant foreign operation
[Abstract]Impact of change in classification of significant foreign operationon shareholders' fund
0 0
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
[201200] Notes - Employee benefits
Disclosure of defined benefit plans [Table] ..(1)
Unless otherwise specified, all monetary values are in INRDefined benefit plans [Axis] Defined benefit plans [Member] Domestic defined benefit plans [Member]
01/04/2011
to31/03/2012
01/04/2010
to31/03/2011
01/04/2011
to31/03/2012
01/04/2010
to31/03/2011
Disclosure of defined benefit plans [Abstract]
Disclosure of defined benefit plans [LineItems]
Description of type of plan Gratuity Gratuity Gratuity Gratuity
Reconciliation of changes in present value ofdefined benefit obligation [Abstract]
Changes in defined benefit obligation, atpresent value [Abstract]
Increase (decrease) through currentservice cost, defined benefitobligation, at present value
37,40,677 65,43,934 37,40,677 65,43,934
Increase (decrease) through interestcost, defined benefit obligation, atpresent value
19,48,080 16,46,618 19,48,080 16,46,618
Amalgamations, defined benefit obligation,at present value
0 0 0 0
Increase (decrease) through actuarial losses(gains), defined benefit obligation, atpresent value
40,96,225 24,50,930 40,96,225 24,50,930
Contributions by plan participants,defined benefit obligation, at presentvalue
0 0 0 0
Decrease through benefits paid, definedbenefit obligation, at present value
47,97,236 27,80,034 47,97,236 27,80,034
Increase (decrease) through pastservice cost, defined benefitobligation, at present value
0 0 0 0
Increase (decrease) throughcurtailments, defined benefitobligation, at present value
0 0 0 0
Increase (decrease) throughsettlements, defined benefitobligation, at present value
0 0 0 0
Increase (decrease) through net exchangedifferences, defined benefit obligation, atpresent value
0 0 0 0
Total changes in defined benefitobligation, at present value
-32,04,704 29,59,588 -32,04,704 29,59,588
Defined benefit obligation, at present valueat end of period
1,97,13,884 2,29,18,588 1,97,13,884 2,29,18,588
Reconciliation of changes in fair value ofplan assets [Abstract]
Changes in plan assets, at fair value[Abstract]
Increase (decrease) through
actuarial gains (losses), planassets, at fair value
25,872 1,19,638 25,872 1,19,638
Amalgamations, plan assets, at fair value 0 0 0 0
Increase (decrease) through expectedreturn, plan assets, at fair value
15,44,173 14,18,640 15,44,173 14,18,640
Decrease through benefits paid, planassets, at fair value
47,97,236 27,80,034 47,97,236 27,80,034
Increase (decrease) throughcontributions by planparticipants, plan assets, at fairvalue
42,01,344 22,26,000 42,01,344 22,26,000
Increase (decrease) throughcontributions by employer, planassets, at fair value
0 0 0 0
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Increase (decrease) through netexchange differences, plan assets,at fair value
0 0 0 0
Increase (decrease) throughsettlements, plan assets, at fair value
0 0 0 0
Total changes in plan assets, at fairvalue
9,74,153 9,84,244 9,74,153 9,84,244
Plan assets, at fair value at end of period 1,96,91,397 1,87,17,244 1,96,91,397 1,87,17,244
Changes in reimbursement rights, at fairvalue [Abstract]
Increase (decrease) through actuarial
gains (losses), reimbursement rights, atfair value
0 0 0 0
Amalgamations, reimbursement rights, atfair value
0 0 0 0
Increase (decrease) through expectedreturn, reimbursement rights, at fairvalue
0 0 0 0
Decrease through benefits paid,reimbursement rights, at fair value
0 0 0 0
Increase (decrease) throughcontributions by plan participants,reimbursement rights, at fair value
0 0 0 0
Increase (decrease) throughcontributions by employer, reimbursementrights, at fair value
0 0 0 0
Increase (decrease) through net exchangedifferences, reimbursement rights, atfair value
0 0 0 0
Increase (decrease) throughsettlements, reimbursement rights,at fair value
0 0 0 0
Total changes in reimbursement rights,at fair value
0 0 0 0
Reimbursement rights, at fair value at endof period
0 0 0 0
Recognised assets and liabilities ofdefined benefit plans [Abstract]
Recognised liabilities, defined benefitplan
1,97,13,884 2,29,18,588 1,97,13,884 2,29,18,588
Recognised assets, defined benefit plan 1,96,91,397 1,87,17,244 1,96,91,397 1,87,17,244
Net liability (asset) of defined benefitplans 22,487 42,01,344 22,487 42,01,344
Reconciliation of liability asset ofdefined benefit plans [Abstract]
Defined benefit obligation, at presentvalue
1,97,13,884 2,29,18,588 1,97,13,884 2,29,18,588
Plan assets, at fair value 1,96,91,397 1,87,17,244 1,96,91,397 1,87,17,244
Reimbursement rights, at fair value 0 0 0 0
Unrecognised past service cost(negative past service cost)
0 0 0 0
Unrecognised assets of defined benefitplans
0 0 0 0
Other amounts recognised for definedbenefit plans
0 0 0 0
Net liability (asset) of defined benefit
plans
22,487 42,01,344 22,487 42,01,344
Recognised expense of defined benefit plans[Abstract]
Current service cost, defined benefit plan 37,40,677 65,43,934 37,40,677 65,43,934
Interest cost, defined benefit plan 19,48,080 16,46,618 19,48,080 16,46,618
Expected return on plan assets, definedbenefit plan
15,44,173 14,18,640 15,44,173 14,18,640
Expected return on recognised assetsfor reimbursement right, definedbenefit plan
0 0 0 0
Actuarial gains (losses) recognisedin profit or loss, defined benefitplan
41,22,097 25,70,568 41,22,097 25,70,568
Past service cost recognised inprofit or loss, defined benefit plan
0 0 0 0
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VLCC HEALTH CARE LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012
Effect of curtailment andsettlement recognised in profitor loss, defined benefit plan
0 0 0 0
Effects of limit in AS 15 paragraph 59b 0 0 0 0
Total post-employment benefit expense,defined benefit plans
22,487 42,01,344 22,487 42,01,344
Description of percentage or amount whicheach major category contributes to fairvalue of total plan assets [TextBlock]
Equity instruments amountcontributed to fair value
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