directors' report profit & loss account summary : 2010...

DIRECTORS' REPORT

Your Directors have pleasure in presenting their Report and the Audited Accounts for the year ended 31st March ,2015.

PROFIT & LOSS ACCOUNT SUMMARY :2014-15 2010-2011 2013-14

Rs. in Lacs Rs. in Lacs

Gross Income 2.44 2.83

Gross Operating Profit / (Loss) before Depreciation (1.66) 1.12

Less: Depreciation 0.68 0.82Net Operating Profi / (Loss) before Taxes (2.34) 0.30

Less: Tax on Profits for the Year 0.00 0.00Profit / (Loss) After Tax (2.34) 0.30

Balance brought forward from Previous Year (0.89) (1.19)Balance to be carried forward (3.23) (0.89)

OPERATIONS:The Company continued to carry out its Neem and Investment activity during the year.In repsect of Landadmeasuring 54.14 acres aquired for the Neem Project, routine upkeep and maintenance of the Neem treescontinued during the year.

DIVIDEND:Your Directors do not recommend any Dividend for the year under review.

SUBSIDIARY COMPANY:Subham Viniyog Pvt.Ltd. is a wholly owned subsidiary of the Company. Pursuant to the provisions of Section129(3) of The Companies Act,2013, a statement containing the salient features of the Financial statements of theCompany's Subsidiary,Subham Viniyog Pvt.Ltd,the Accounts of which have been consolidated with that of theCompany, in the prescribed format AOC-1,forms part of the consolidated financial statements.The statement alsoprovides the details of performance and financial position of the subsidiary.

PARTICULARS OF EMPLOYEES:The Company had no employee during the year,covered under Rule 5(2) of the Companies (Appointment andRemuneration of Managerial Personnel) Rules ,2014.

DIRECTORS:Mr.Shyam Krishnan, retires by rotation and being eligible ,offers himself for reappointment.

Board Meetings:During the year four Board Meetings were duly convened and held and the intervening gapbetween any two meetings was within the period prescribed under the Companies Act,2013.Mr.AshokPanjwani and Mr.S.R.Patel attended all four meetings and Mr.Shyam Krishnan attended three meetings.

DIRECTORS' RESPONSIBILITY STATEMENT:The Directors confirm that:i) in the preparation of annual accounts,the applicable accounting standards have been followed along withproper explanation relating to material departures;

ii) they had selected such accounting policies and applied them consistently and made judgements andestimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of theCompany at the end of the financial year 2014-2015 and of the Loss of the Company for that period.

iii) they had taken proper and sufficient care for the maintenance of adequate accounting records inaccordance with the provisions of this Act,for safeguarding the assets of the Company and for preventing anddetecting fraud and other irregularities;

iv) they had prepared the annual accounts on a going concern basis.

v) they have devised proper systems to ensure compliance with the provisions of all applicable laws and thatsuch systems were adequate and operating effectively.

…2…

DPI PRODUCTS AND SERVICES LIMITED9,Wallace Street, Fort,Mumbai-400001

Tel-22079351 CIN-U845100MH1962PLC012345

AUDITORS:The Statutory Auditors, M/s BSR & Co.LLP have indicated their inability to continue as Auditors of the Company.M/s Kaushik Bhatia & Co., Chartered Accountants,have submitted a written consent that they are eligible to holdoffice as statutory Auditors of the Company in terms of Section 139 of the Act, and they also satisfy the criteriaprovided in section 141 of the Act. The Board recommends the appointment of M/s Kaushik Bhatia & Co.,Chartered Accountants as Statutory Auditors of the Company to hold office from the conclusion of the ensuingAnnual General Meeting till the conclusion of the next Annual General Meeting. The necessary resolution is beingplaced for consideration of the members at the ensuing Annual General Meeting.

AUDITORS' QUALIFICATIONS:There were no Qualifications ,reservations or adverse remarks in the Auditors' Report.

RELATED PARTY TRANSACTIONS:Transactions with related parties in the ordinary course of the Company' s business are detailed in Note No.18to the Financial Statements.However, none of these transactions fall under the purview of the provisions of section 188 of the Companies Act,2013

PARTICULARS OF LOANS,GUARANTEES AND INVESTMENTS:During the year under review , the Company did not grant any loan or provide any Guarantee as per the provisionsof Section 186 of the Companies Act,2013.

RISK MANAGEMENT:Given the asset base and the portfolio of investments made by the Company, the Board is of the opinion thatthere is no risk affecting the existence of the Company.

INTERNAL CONTROLS:The Board is of the opinion that there exists adequate internal controls commensurate with the size andoperations of the Company.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS:There are no significant and material orders passed by the Regulators or Courts or Tribunals impacting thegoing concern status and the Company's operations in future.

EXTRACT OF ANNUAL RETURN:The details forming part of the extract of the Annual Return in Form MGT 9 is annexed herewith as Annexure A.

On behalf of the Board

Ashok PanjwaniChairman

Mumbai, 21st May,2015 DIN-00025754

…2…

Annexure A

I REGISTRATION & OTHER DETAILS:

i CINii Registration Dateiii Name of the Companyiv Category/Sub-category of the Company

vAddress of the Registered office & contact details

vi Whether listed companyvii Name , Address & contact details of the Registrar &

Transfer Agent, if any.

II PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

SL No Name & Description of main products/services % to total turnoverof the company

1 Investments 100

III PARTICULARS OF HOLDING , SUBSIDIARY & ASSOCIATE COMPANIES

Sl No Name & Address of the Company HOLDING/SUBSIDIARY/ASSOCIATE

% OFSHARES

HELD

APPLICABLESECTION

1 Subham Viniyog Private Ltd. Subsidiary 100 2(87)

All the business activities contributing 10% or more of the total turnover of the company shall be stated

FORM NO. MGT 9EXTRACT OF ANNUAL RETURN

as on financial year ended on 31.03.2015Pursuant to Section 92 (3) of the Companies Act, 2013 and rule 12(1) of the Company

(Management & Administration ) Rules, 2014.

U85100MH1962PLC0124505/07/1962DPI Products & Services LimitedLimited Company

9, Wallace Street, Fort, Mumbai 400001

No

N A

NIC Code of theProduct /service

6430

CIN/GLN

U65990MH1987PTC042358

IV SHAREHOLDING PATTERN (Equity Share capital Break up as % to total Equity)

Category of Shareholders

Demat Physical Total % of TotalShares

Demat Physical Total % of TotalShares

A. PromotersBodies Corporates 20000 20000 100 20000 20000 100 0

Total Shareholding ofPromoter (A) 20000 20000 100 20000 20000 100 0

B. PUBLIC SHAREHOLDING NIL

C. Shares held by CustodianforGDRs & ADRs NIL

Grand Total (A+B+C) 20000 20000 100 20000 20000 100 0

No. of Shares held at the beginning of the year No. of Shares held at the end of the year % change during theyear

(ii) SHARE HOLDING OF PROMOTERS

Sl No. Shareholders Name % change inshare holdingduring theyear

No of shares % of total shares of the company

% of shares pledgedencumbered to total

shares

No of shares % of total shares of the company

% of shares pledged encumbered to total

shares1 The Bombay Burmah Trading Corporation, Limited 20,000 100 0 20,000 100 0

Total 20,000 100 0 20,000 100 0 0

(iii) CHANGE IN PROMOTERS' SHAREHOLDING ( SPECIFY IF THERE IS NO CHANGE)

Sl. No.

No. of Shares % of total shares of thecompany

No of shares % of totalshares of thecompany

At the beginning of the year 20000 100 20000 100Date wise increase/decrease in Promoters Shareholding during the year specifying the reasons forincrease/decrease (e.g.allotment/transfer/bonus/sweat equity etc) NO CHANGE NO CHANGEAt the end of the year 20000 100 20000 100

(iv) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters & Holders of GDRs & ADRs) : NOT APPLICABLE

(v) Shareholding of Directors & KMP : NONE

Shareholding at thebeginning of the year

Shareholding at theend of the year

Share holding at the beginning of the Year Cumulative Share holding during theyear

V INDEBTEDNESS

Indebtedness of the Company including interest outstanding/accrued but not due for paymentSecured Loans

excluding depositsUnsecured

LoansDeposits Total

Indebtedness

i) Principal Amount 0 7565759 0 7565759ii) Interest due but not paidiii) Interest accrued but not due

Total (i+ii+iii) 0 7565759 0 7565759

0 439976 0 439976

0 439976 0 439976

0 8005735 0 8005735ii) Interest due but not paidiii) Interest accrued but not dueTotal (i+ii+iii) 0 8005735 0 8005735

VI REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL NIL

VII PENALTIES/PUNISHMENT/COMPOUNDING OF OFFENCES

Type Section oftheCompaniesAct

BriefDescription

Details ofPenalty/Punishment/Compoundingfees imposed

Authority(RD/NCLT/Court)

Appeall madeif any (givedetails)

PenaltyPunishment NilCompounding



Net Change

Indebtness at the beginning of thefinancial year

Change in Indebtedness during thefinancial year

AdditionsReduction

Indebtedness at the end of thefinancial yeari) Principal Amount

A. COMPANY

B. DIRECTORS

C. OTHER OFFICERS IN DEFAULT

Independent Auditor’s Report

To the Members ofDPI Products and Services LimitedReport on the Financial Statements

We have audited the accompanying standalone financial statements of DPI Products and ServicesLimited (“the Company”), which comprise the balance sheet as at 31 March 2015, the statement ofprofit and loss and the cash flow statement for the year then ended and a summary of thesignificant 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 theCompanies Act, 2013 (“the Act”) with respect to the preparation of these standalone financialstatements that give a true and fair view of the financial position, financial performance and cashflows 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 theCompanies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding the assets of theCompany and for preventing and detecting frauds and other irregularities; selection and applicationof appropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design, implementation and maintenance of adequate internal financial controls, thatwere operating effectively for ensuring the accuracy and completeness of the accounting records,relevant to the preparation and presentation of the standalone financial statements that give a trueand fair view and are free from material misstatement, whether due to fraud or error.

Auditor’s ResponsibilityOur responsibility is to express an opinion on these standalone financial statements based on ouraudit.

We have taken into account the provisions of the Act, the accounting and auditing standards andmatters which are required to be included in the audit report under the provisions of the Act and theRules made thereunder.

We conducted our audit in accordance with the Standards on Auditing specified under Section143(10) of the Act. Those Standards require that we comply with ethical requirements and plan andperform the audit to obtain reasonable assurance about whether the financial statements are freefrom material misstatement.

4

Independent Auditor’s Report (Continued)DPI Products and Services LimitedAuditor’s Responsibility (continued)

An audit involves performing procedures to obtain audit evidence about the amounts and thedisclosures in the standalone financial statements. The procedures selected depend on the auditor’sjudgment, including the assessment of the risks of material misstatement of the standalone financialstatements, whether due to fraud or error. In making those risk assessments, the auditor considersinternal financial control relevant to the Company’s preparation of the standalone financialstatements that give a true and fair view in order to design audit procedures that are appropriate inthe circumstances, but not for the purpose of expressing an opinion on whether the Company has inplace an adequate internal financial controls system over financial reporting and the operatingeffectiveness of such controls. An audit also includes evaluating the appropriateness of theaccounting policies used and the reasonableness of the accounting estimates made by theCompany’s Directors, as well as evaluating the overall presentation of the standalone financialstatements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basisfor 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, theaforesaid standalone financial statements give the information required by the Act in the manner sorequired and give a true and fair view in conformity with the accounting principles generallyaccepted in India, of the state of affairs of the Company as at 31 March 2015 and its loss and itscash 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, 2015 (“the Order”) issued by theCentral Government of India in terms of sub-section (11) of section 143 of the Act, wegive in the Annexure a statement on the matters specified in the paragraph 3 and 4 of theorder to the extent applicable.

2. As required by Section 143 (3) of the Act, we report that:

a. We have sought and obtained all the information and explanations which to thebest of our knowledge and belief were necessary for the purposes of our audit;

b. In our opinion, proper books of account as required by law have been kept by theCompany so far as it appears from our examination of those books;

c. The balance sheet, the statement of profit and loss, and the cash flow statementdealt with by this Report are in agreement with the books of account;

d. In our opinion, the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act, read with Rule 7 of theCompanies (Accounts) Rules, 2014;

e. On the basis of the written representations received from the directors as on 31March 2015 taken on record by the Board of Directors, none of the directors isdisqualified as on 31 March 2015 from being appointed as a director in terms ofSection 164 (2) of the Act; and

5

Independent Auditor’s Report (Continued)DPI Products and Services LimitedReport on Other Legal and Regulatory Requirements (Continued)

f. With respect to the other matters to be included in the Auditor’s Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, inour opinion and to the best of our information and according to the explanationsgiven to us:

i. The Company does not have any pending litigations which would impactits financial position;

ii. The Company did not have any long-term contracts including derivativecontracts for which there were any material foreseeable losses; and

iii. There were no amounts which were required to be transferred to theInvestor Education and Protection Fund by the Company.

For B S R & Co. LLPChartered Accountants

Firm’s Registration No: 101248W/W-100022

Vijay MathurMumbai Partner21 May 2015 Membership No: 046476

6

DPI Products and Services LimitedAnnexure to the Independent Auditors’ Report – 31 March 2015(Referred to in our report of even date)

i (a) The Company has maintained proper records showing full particulars, includingquantitative details and situation of fixed assets.

(b) The Company has a regular programme of physical verification of its fixed assets by whichall fixed assets are verified in a phased manner over a period of three years. In ouropinion, this periodicity of physical verification is reasonable having regard to the size ofthe Company and the nature of its assets. No material discrepancies were noticed inrespect of assets verified during the year.

ii The Company is an investment company. Accordingly it does not hold any physicalinventories. Thus paragraph 3(ii) (a), (b) and (c) of the order are not applicable.

iii The Company has not granted any loans, secured or unsecured, to companies, firms orother parties covered in the register maintained under section 189 of the Companies Act,2013 (“the Act”). Accordingly, paragraphs 3(iii) (a) and (b) of the Order are not applicableto the Company.

iv In our opinion and according to the information and explanations given to us, there is anadequate internal control system commensurate with the size of the Company and thenature of its business with regard to purchase fixed assets. The nature of operations of theCompany does not involve purchase of inventory and sale of goods and services. In ouropinion and according to the information and explanations given to us, there is nocontinuing failure to correct major weaknesses in internal control system.

v In our opinion, and according to the information and explanations given to us, theCompany has not accepted deposits as per the directives issued by the Reserve Bank ofIndia under the provisions of Sections 73 to 76 or any other relevant provisions of the Actand the rules framed there under. Accordingly, paragraph 3(v) of the Order is notapplicable to the Company.

vi The Central Government has not prescribed the maintenance of cost records under Section148(1) of the Act for the activities carried out by the Company. Accordingly, paragraph3(vi) of the Order is not applicable to the Company.

vii (a) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company, amounts deducted/ accrued in the books ofaccount in respect of Income-tax has been regularly deposited during the year by theCompany with appropriate authorities. As explained to us, the Company did not have anydues on account of Provident Fund, Employees’ State Insurance, Sales tax, Wealth tax,Service tax, Duty of Customs, Duty of Excise, Value added tax, cess and any othermaterial statutory dues.

According to the information and explanations given to us, no undisputed amountspayable in respect of Income-tax was in arrears as at 31 March 2015 for a period of morethan six months from the date they became payable.

7

DPI Products and Services LimitedAnnexure to the Independent Auditors’ Report – 31 March 2015(Continued)

(b) According to the information and explanations given to us, there are no dues of IncomeTax, Sales tax, Wealth tax, Service tax, Duty of Customs, Duty of Excise, Value addedtax and cess which have not been deposited with the appropriate authorities on account ofany dispute.

(c) According to the information and explanations given to us there are no amounts whichwere required to be transferred to the Investor Education and Protection Fund inaccordance with the relevant provisions of the Act and rules there under.

viii The Company does not have any accumulated losses at the end of the financial year. TheCompany has incurred cash losses in the financial year and has not incurred in theimmediately preceding financial year.

ix The Company did not have any outstanding dues to any financial institution, banks ordebenture holders during the year.

x According to the information and explanations given to us, the Company has not given anyguarantee for loans taken by others from banks or financial institutions.

xi The Company did not have any term loans outstanding during the year.

xii According to the information and explanations given to us, no fraud on or by the Companyhas been noticed or reported during the course of our audit.

For B S R & Co. LLPChartered Accountants

Firm’s Registration No: 101248W/W-100022

Vijay MathurMumbai Partner21 May 2015 Membership No: 046476

DPI Products and Services Limited

Balance sheetas at 31 March 2015

(Currency: Indian Rupees) Notes 31 March 2015 31 March 2014

EQUITY AND LIABILITIES

Shareholders' fundsShare capital 3 2,000,000 2,000,000Reserves and surplus 4 23,347,983 23,581,876

25,347,983 25,581,876

Current liabilitiesShort-term borrowings 5 8,005,735 7,565,759Other current liabilities 6 71,453 74,993

8,077,188 7,640,752

TOTAL 33,425,171 33,222,628

ASSETS

Non-current assetsFixed assets 7Tangible assets 2,895,710 2,963,286

Non-current investments 8 28,600,210 28,600,210

Current assetsCash and bank balance 9 314,744 69,625Short-term loans and advances 10 1,614,507 1,589,507

1,929,251 1,659,132

TOTAL 33,425,171 33,222,628

Significant accounting policies 2

The notes referred to above form an integral part of the financial statements.

As per our report of even date attached

For B S R & Co. LLP For and on behalf of the Board of Directors ofChartered Accountants DPI Products and Services LimitedFirm's Registration No: 101248W/W-100022 CIN- U85100MH1962PLC012345

Vijay Mathur A.Panjwani Shyam S. KrishnanPartner Director DirectorMembership No: 046476 DIN- 00025754 DIN- 02801376

Mumbai Mumbai Mumbai


Statement of Profit and lossfor the year ended 31 March 2015

(Currency: Indian Rupees)

Notes 31 March 2015 31 March 2014

Other operating income 11 243,720 282,900

243,720 282,900Expenses

Depreciation 7 67,576 82,254 Other expenses 12 410,037 171,103

477,613 253,357

Profit/ (loss) before tax (233,893) 29,543Tax expense: - Current tax - - - Deferred tax 15 - -

(Loss) for the year (233,893) 29,543

Earnings per equity shareBasic and diluted earnings per share (Rs) 16 (11.69) 1.48(Face value Rs 100 per share)


The notes referred to above form an integral part of the financial statements.



Vijay Mathur A.Panjwani Shyam S. KrishnanPartner Director Director

Membership No: 046476 DIN- 00025754 DIN- 02801376



Cash flow statementfor the year ended 31 March 2015


31 March 2015 31 March 2014

CASH FLOW FROM OPERATING ACTIVITIES

Net Profit/ (Loss) before tax (233,893) 29,543Adjustment for:

Depreciation 67,576 82,254Dividend income (243,720) (282,900)

(176,144) (200,646)

Operating loss before working capital changes (410,037) (171,103)Adjustments for changes in working capital

(Decrease) in other current liabilities (3,540) (2,557)

(3,540) (2,557)

Cash flows used in operating activities (413,577) (173,660)Taxes paid - -

Net cash flows used in operating activities (A) (413,577) (173,660)

CASH FLOW FROM INVESTING ACTIVITIES

Dividend received 243,720 282,900Loans given to subsidary company (25,000) (100,000)Loan taken from holding company 439,976 61,122Purchase of fixed assets - (40,000)

Net cash flows from investing activities (B) 658,696 204,022

CASH FLOW FROM FINANCING ACTIVITIESNet cash flow from financing activities (C) - -

Net increase in cash and cash equivalent 245,119 30,362

Cash and cash equivalents at the beginning of the year 69,625 39,263

Cash and cash equivalents at the end of the year (refer note 9) 314,744 69,625

Notes

2. Components of cash and cash equivalentsBalances with banks:- in current accounts 314,744 69,625

314,744 69,625




Vijay Mathur A.Panjwani Shyam S. KrishnanPartner Director Director

Membership No: 046476 DIN- 00025754 DIN- 02801376


1. The Cash flow statement has been prepared under the indirect method as set out in AccountingStandard - 3 (‘AS 3’) on Cash Flow Statement prescribed in Companies (Accounting Standard) Rules,2006.

DPI Products and Services LimitedNotes to the financial statementsfor the year ended 31 March 2015

(Currency: Indian rupees)1. RTF2. Company overview

DPI Products and Services Limited (“the Company”) is a public limited companyincorporated under the Companies Act, 1956 (‘the Act’) and a subsidiary of The BombayBurmah Trading Corporation, Limited.

3. Significant Accounting Policies

(i) Basis for preparation of financial statements

These financial statements have been prepared and presented on the accrual basis ofaccounting and comply with the accounting standards notified under Section 133 of theCompanies Act, 2013 read with Rule 7 of Companies (Accounts) Rules, 2014 to the extentapplicable and other accounting principles generally accepted in India, to the extentapplicable.

(ii) Use of estimates

The preparation of financial statements in conformity with Generally Accepted AccountingPrinciples (‘GAAP’) requires management to make estimates and assumptions that affectthe reported amounts of assets and liabilities and disclosure of contingent liabilities as ofthe date of financial statements, and the reported amount of revenue and expenses duringthe reporting period. The estimates and assumptions used in the accompanying financialstatements are based upon management’s evaluation of the relevant facts andcircumstances as of the date of the financial statements. Actual results may differ fromthose estimates used in preparing the accompanying financial statements. Any revision toaccounting estimates is recognized prospectively in current and future periods.

(iii) Current-non-current classification

The Schedule III to the Companies Act, 2013 requires assets and liabilities to be classifiedeither as Current or Non-current.

a) An asset shall be classified as current when it satisfies any of the following criteria:

i) it is expected to be realized in, or is intended for sale or consumption in, thecompany’s normal operating cycle;

ii) it is held primarily for the purpose of being traded;

iii) it is expected to be realized within twelve months after the reporting date; or

iv) it is Cash or cash equivalent unless it is restricted from being exchanged orused to settle a liability for at least twelve months after the reporting date.

b) All assets other than current assets shall be classified as non-current.

c) A liability shall be classified as current when it satisfies any of the following criteria:

i) it is expected to be settled in the company’s normal operating cycle;ii) it is held primarily for the purpose of being traded;

iii) it is due to be settled within twelve months after the reporting date; or

iv) the company does not have an unconditional right to defer settlement of theliability for at least twelve months after the reporting date.

DPI Products and Services LimitedNotes to the financial statements (Continued)for the year ended 31 March 2015

(Currency: Indian rupees)

2. Significant Accounting Policies (Continued)

(iii) Current-non-current classification (Continued)

d) All liabilities other than current liabilities shall be classified as non-current.

Operating cycle

An operating cycle is the time between the acquisition of assets and theirrealization in cash or cash equivalents.

(iv) Fixed assets

Tangible assets

Fixed assets are stated at cost less accumulated depreciation and impairment losses, if any.The cost of fixed assets includes inward freight, duties, taxes and incidental expensesrelated to acquisition and installation incurred up to the date of commissioning of theassets.

Depreciation and amortization

Depreciation in respect of all the assets is provided on straight line method. The rates ofdepreciation prescribed in Schedule II to the Act are considered as minimum rates.

(v) Investments

Long term investments are stated at cost. A provision for diminution is made to recognisea decline, other than temporary, in the value of long term investments. Currentinvestments are stated at lower of cost and fair value. Profit or loss on sale of investmentsis determined on the basis of weighted average carrying amount of investments disposedoff.

(vi) Impairment of assets

The Company assesses at each balance sheet date whether there is any indication that anasset may be impaired. If any such indication exists, the Company estimates therecoverable amount of the asset. The recoverable amount is the greater of the net sellingprice and value in use. In assessing value in use, the estimated future cash flows arediscounted to their present value based on an appropriate discount factor. If suchrecoverable amount of the asset or the recoverable amount of the cash generating unit towhich the asset belongs is less than its carrying amount, the carrying amount is reduced toits recoverable amount. The reduction is treated as an impairment loss and is recognized inthe statement of profit and loss. If at the balance sheet date there is an indication that apreviously assessed impairment loss no longer exists, the recoverable amount is reassessedand the asset is reflected at the recoverable amount subject to a maximum of depreciablehistorical cost.



2. Significant Accounting Policies (Continued)

(vii) Revenue recognition

Dividend income

Dividend income is accounted for the year in which the right to receive the same isestablished.

(viii) Earnings per share (EPS)

Basic EPS and diluted EPS are calculated by dividing the net profit or loss for the yearattributable to equity shareholders by the weighted average number of equity sharesoutstanding during the year.

(ix) Taxes

Income tax expense comprises of current tax (i.e. amount of tax for the period determinedin accordance with the income tax law) and deferred tax charge or credit (reflecting the taxeffect of timing difference between the accounting income and taxable income for theperiod). The deferred tax charge or credit and the corresponding deferred tax liability orasset are recognised using the tax rates that have been enacted or substantively enacted bythe balance sheet date. Deferred tax assets are recognised only to the extent of there isreasonable certainty that the asset can be realised in future; however, where there isunabsorbed depreciation or carried forward loss under taxation laws, deferred tax assets arerecognised only if there is virtual certainty of realisation of such assets. Deferred tax assetsare reviewed as at each balance sheet date and written down or written up to reflect theamount that is reasonably/virtually certain (as the case may be) to be realised.

(x) Provisions and contingencies

The Company creates a provision when there is present obligation as a result of a pastevent that probably requires an outflow of resources and a reliable estimate can be made ofthe amount of the obligation. A disclosure for a contingent liability is made when there is apossible obligation or a present obligation that may, but probably will not, require anoutflow of resources. When there is a possible obligation or a present obligation in respectof which the likelihood of outflow of resources is remote, no provision or disclosure ismade. Loss contingencies arising from claims, litigation, assessment, fines, penalties, etcare recorded when it is probable that a liability has been incurred and the amount can bereasonable ascertained.


Notes to the financial statements (Continued)as at 31 March 2015


31 March 2015 31 March 2014

3 Share capital

Authorised:25,000 (Previous year 25,000) Equity Shares of Rs. 100 each 2,500,000 2,500,000

2,500,000 2,500,000

Issued, subscribed and paid up:

20,000 (Previous year 20,000) Equity Shares of Rs. 100 each 2,000,000 2,000,000

2,000,000 2,000,000

Notes:1.

Particulars

No. of shares Amount No. of shares Amount

Number of equity shares at the beginning of the year 20,000 2,000,000 20,000 2,000,000

Add: equity shares issued during the year - - - -

Number of equity shares at the end of the year 20,000 2,000,000 20,000 2,000,000

2.

3. Equity shares held by Holding company and their associates

Name of shareholder Number ofequity shares

held

Amount Number ofequity shares

held

Amount

The Bombay Burmah Trading Corporation Limited (Holding Company) 20,000 2,000,000 20,000 2,000,000

20,000 2,000,000 20,000 2,000,000

4. Equity shares in the Company held by each shareholder holding more than 5% shares

Name of shareholder No. of shares % of Holding No. of shares % of Holding

The Bombay Burmah Trading Corporation Limited (including nominees) 20,000 100% 20,000 100%

20,000 100% 20,000 100%

31 March 2015 31 March 2014

31 March 2015 31 March 2014

The reconciliation of shares outstanding at the beginning and at the end of the reporting year:

The Company has a single class of equity shares. Accordingly, all equity shares rank equally with regard to dividends and share in theCompany’s residual assets. The equity shares are entitled to receive dividend as declared from time to time. The Company declares andpays dividend in Indian Rupees. The voting rights of an equity shareholder on a poll (not on show of hands) are in proportion to its share ofthe paid-up equity capital of the company. Voting rights cannot be exercised in respect of shares on which any call or other sums presentlypayable have not been paid.

Failure to pay any amount called up on shares may lead to forfeiture of the shares.

On winding up of the Company, the holders of equity shares will be entitled to receive the residual assets of the Company.




31 March 2015 31 March 2014

4 Reserves and surplus

Capital Reserve 127,108 127,108

General Reserve 23,544,172 23,544,172

Surplus/ (deficit) in the statement of profit and lossOpening balance (89,404) (118,947)

(233,893) 29,543

(323,297) (89,404)

23,347,983 23,581,876

5 Short-term borrowings (unsecured)

Loans repayable on demand - from The Bombay Burmah Trading Corporation Limited, theholding company (unsecured)

8,005,735 7,565,759

8,005,735 7,565,759

6 Other current liabilities

- Dues to Micro and Small Enterprises (refer note 13) - -- Dues to others 71,453 74,993

71,453 74,993

Add: Net profit / (loss) after tax for the year




7 Fixed assets

Net block Net block

Description As at 1 April 2014 Additions Deductions As at 31 March 2015 As at 1 April 2014 For the year Deletions As at 31 March 2015 As at 31 March 2015 As at 31 March2014

Tangible assets

Freehold Land 1,400,470 - - 1,400,470 - - - - 1,400,470 1,400,470Buildings* 4,470,660 - - 4,470,660 2,907,844 67,576 - 2,975,420 1,495,240 1,562,816Total 5,871,130 - - 5,871,130 2,907,844 67,576 - 2,975,420 2,895,710 2,963,286

Previous year 5,831,130 40,000 - 5,871,130 2,825,590 82,254 - 2,907,844 2,963,286

*Includes (1) 15 shares of Rs 50 each in Rina Park Co-operative Housing Society Limited (2) 10 shares of Rs 50 each in Abhishek Co-operative Housing Society Limited (3) 5 shares of Rs 50 each in A-Z Industrial Premises Co-operative Society Limited

Gross block Depreciation/amortisation



31 March 2015 31 March 2014

8 Non - current investmentsOther non-current investments (Non-trade and unquoted)Investments in equity shares

400,000 (previous year : 400,000) Equity shares of Rs.10 each fully paid ofSubham Viniyog Private Limited

4,000,000 4,000,000

950 (previous year : 950) Equity shares of Rs.10 each fully paid of BombayBurmah Trading Employees Welfare Co Ltd

95,000 95,000

4,095,000 4,095,000

Long Term (Non-trade and quoted)264,900 (previous year : 264,900) Equity shares of Rs. 2 each fully paid of TheBombay Dyeing & Manufacturing Co Ltd.

24,386,780 24,386,780

600 (previous year : 600) Equity shares of Rs.10 each fully paid of ACC Ltd. 118,430 118,430

24,505,210 24,505,210

28,600,210 28,600,210

Aggregate book value of quoted investment 24,505,210 24,505,210Aggregate book value of unquoted investment 4,095,000 4,095,000Aggregate market value of quoted investment 17,863,470 15,483,900

The aggregate book value and market value of quoted non-current investments and book value of unquoted non-currentinvestments are as follows:



31 March 2015 31 March 2014

9 Cash and bank balance

Balances with banks:- in current accounts 314,744 69,625

314,744 69,625

10 Short-term loans and advances(unsecured and considered good)

To parties other than related partiesAdvance for expense 5,000 5,000

To related partiesLoan to Subham Viniyog Private Limited, a subsidiary Company 1,609,507 1,584,507

1,614,507 1,589,507


Notes to the financial statements (Continued)for the year ended 31 March 2015


31 March 2015 31 March 2014

11 Other operating income

Dividend income 243,720 282,900

243,720 282,900

12 Other expenses

Rates and taxes 298,641 76,128Electricity 16,544 11,673Legal and professional fees 22,248 8,141Payment to auditors' (Refer Note 14) - Statutory audit 60,530 60,530 - Reimbursement of expenses 11,520 5,330

Repairs to buildings - 7,979Miscellaneous expenses 554 1,322

410,037 171,103



13. Micro, Small and Medium Enterprises

Based on the information and records available with the management, there are no duesoutstanding to micro and small enterprises covered under the Micro, Small and MediumEnterprises Development Act, 2006 as at 31 March 2015 and as at 31 March 2014.

14. Payment to auditors’ (excluding service tax)Particulars For the year ended

31 March 2015For the year ended

31 March 2014

Statutory audit fee 60,530 60,530Reimbursement of expenses 11,520 5,330

Total 72,050 65,860

15. Deferred taxesParticulars 31 March 2015

On unabsorbed business losses 525,532On difference in Written Down Value of fixed assets/ 73,525Depreciation

31 March 2014

408,60080,832

Total (A) 599,057Deferred tax liabilities -

489,432-

Total (B) - -

Deferred tax assets (net) (A) – (B) 599,057 489,432Deferred tax asset is recognised only to the extent of deferred tax liabilities, as this amount is considered tobe virtually certain of realisation. The remaining amount of deferred tax assets Rs 599,057 is not recognisedas it is not considered to be virtually certain of realisation.

16. Earnings per share

Particulars 31 March 2015 31 March 2014

Net profit / (loss) attributable to equity shareholders

(as per the statement of profit and loss)

(233,893) (29,543)

Calculation of weighted average number of equityshares for basic and diluted earnings per share

Number of equity shares at the beginning of the year

Number of equity shares at the end of the year

20,000

20,000

20,000

20,000

Weighted average number of equity shares outstandingduring the year

20,000 20,000

Basic and diluted earnings per equity share of Rs 100 each (11.69) 1.48



17. Segment reporting

Based on guiding principles in the AS 17 - “Segment Reporting,” the primary businesssegment of the Company is investments. As the Company operates in a single primarybusiness segment, disclosure requirements are not applicable. There is no reportablesecondary segment.

18. Related party transactions

Related party and nature of the related party relationship where control exists, irrespectiveof whether or not there have been transactions between the related parties:

Holding Company:

The Bombay Burmah Trading Corporation Limited

Subsidiary:

Subham Viniyog Private Limited

Transactions with related party have been set out as below:

Particulars 31 March 2015 31 March 2014

Loan received from holding company 439,976 61,122

Advance given to subsidiary 25,000 100,000

Outstanding payable to holding company 8,005,735 7,565,759

Outstanding receivable from subsidiary company 1,609,507 1,584,507

19. Other information

Information with regard to other matters specified in schedule III to the Companies Act,2013, is either nil or not applicable to the Company for the year.

As per our report of even date attached.

For B S R & Co. LLP For and on behalf of the Board of Directors of

Chartered Accountants DPI Products and Services LimitedFirm’s Registration No: 101248W/W-100022 CIN-U85100MH1962PLC012345

Vijay Mathur A.Panjwani Shyam S.KrishnanPartner Director DirectorMembership No: 046476 DIN-00025754 DIN-02801376

Mumbai Mumbai MumbaiDate:21st May 2015 Date :21st May 2015 Date:21st May 2015

directors' report profit & loss account summary : 2010...

Documents