| 1. Corporate information:
Ador Multiproducts Limited ( "the Company") is a public limited company
domiciled in India and is listed on the Bombay Stock Exchange [BSE].
CIN is L85110KA1948PLC000545.
The Company is engaged primarily in the business of manufacturing of
Personal Care Products and Trading in Welding equipments & consumables.
The Company's registered office is in Bengaluru and branches at
Puducherry & Chennai.
2. Share capital:
The Company has a class of shares, referred to as equity shares, having
a par value of Rs.10, per share. Each holder of equity shares is
entitled to one vote per share.
The shareholders' right to dividend and other matters are governed by
the Articles of Association of the Company and the Companies Act, 2013
In the event of liquidation of the Company, the equity shareholders are
eligible to receive remaining assets of the Company, after distribution
of all preferential amounts, in proportion to their shareholding.
As informed by the company, the above share holding represent both
legal and beneficial ownership of shares.
(i) As on the balance sheet date,
(a) The Company did not issue any equity shares as fully paid equity
shares pursuant to contracts without payment being received in cash &
and also
(b) The Company did not issue any fully paid bonus shares,
(ii) The Company also did not buy back any equity shares as on the
balance sheet date.
3. Share warrants
During year the Company has issued 2,50,000 share warrants of Rs. 16.50
to promoters on a preferential basis.
(i) Issue/conversion of equity shares:
During the year, the Company had issued 1,24,500 equity shares of Rs.
10/- each at a premium of Rs. 6.50/- against warrants conversion
allotted to promoters on a preferential basis. These shares are ranking
pari-passu with the old equity shares of the Company.
(ii) 125500 share warrants of Rs. 16.50, each partly paid (Each warrant
carry/option entitlement to one equity share of Rs.10/- each at premium
of Rs. 6.50 convertible within eighteen months, on which 25% has been
paid.
4. Operating Lease
a. The Company has executed lease agreements under operating leases,
which are not non-cancellable and are renewable by mutual consent on
mutually agreeable terms. Lease rental payments of Rs.4,57,180(Pr.Yr
Rs. 4,97,370) made by the Company are recognized in the Statement of
Profit & Loss.
5. Disclosure under the Micro, Small and Medium Enterprises
Development Act, 2006:
The Company is in the process of compiling relevant information
relating to Micro, Small and Medium Enterprises (MSME). Since the
relevant information is not available, no disclosures have been made in
the financial statements. However, in the opinion of the management,
the impact of interest, if any, that may be payable in accordance with
the provisions of MSMED Act, 2006, is not expected to be material.
6. Foreign Currency earnings and expenditure:
(i) Income in foreign currency:
The Company has not exported any goods and not earned any foreign
currency income during the year
(ii) Expenditure in foreign currency:
The Company did not incurred any foreign currency expenditure during
the year.
7. Related party transactions:
Disclosures as per Accounting Standard 18, transactions with the
related party are given below:
Sl Name of the related party Relationship
no.
1 J.B Advani and Company Private Limitd Associate Company
2 Ador Welding Limited Associate Company
3 Ador Powertron Limited Associate Company
4 Ador Fontech Limited Associate Company
Key management personnel :
1 Mr. Deep A Lalvani Chairman
2 Sriee. Aneetha M Company Secretary
8. During the year, the Company has adopted estimated useful life as
stipulated in the schedule II to the Companies Act, 2013. Accordingly,
depreciation of Rs. 5,28,861/- on account of assets whose useful life
is already exhausted as on 01/04/2014 and deferred tax of Rs.
1,71,589/- thereon have been adjusted to General reserve.
9. Defind contribution scheme - Superannuation fund
The Company has contributed to superannuation fund year on year. Hence,
no further liability accrues to the Company on this account. Cumulative
defined benefit obligation of compensated absence (unfunded) amounts to
4,10,210/-
10. Contractual liabilities:
In the opinion of the Management, all other contractual liabilities
connected with the business operations of the Company have been
appropriately provided for.
11. Contingent liabilities and Commitments:
a) Guarantees given by the banks on behalf of the Company Rs. 3.20
lakhs (Pr. Yr Rs. 3.05 lakhs)
b) Uncalled liability on partly paid shares of South Zone Paper
Distributors Limited : Rs. 800 (Pr.Yr Rs. 800)
12. Segment reporting:
a) Segment policies:
Revenues and identifiable operating expenses in relation to the
segments are categorized based on items that are individually
identifiable to that segment. In case where the management believes it
is not practical to provide disclosure relating to some expenses, then
these expenses are separately disclosed as 'unallocated' and adjusted
against the total income of the Company.
b) Business segments:
For management reporting purpose, the Company is organized into two
major operating segments-
i) Manufacturing of personal care products and job work thereon
ii) Trading of welding equipments and accessories
The above segments have been identified taking into account the
organization structure as well as the differing risks and returns of
these segments.
c) The accounting policies adopted for segment reporting are in line
with the accounting policies adopted by the Company for the purpose of
these financial statements
d) In the opinion of the Company, all revenues are from India and
hence, it has only one geographical segment. Accordingly secondary
segment is not applicable.
13. Figures in the financial statements are rounded off to the
nearest rupee.
14. Previous year's figures have been recaust/restated.
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