Annual Report 2004 - Nagarjuna Fertilizers
Annual Report 2004 - Nagarjuna Fertilizers Annual Report 2004 - Nagarjuna Fertilizers
NFCL Schedules forming part of the Balance Sheet as at 31st March, 2005 Schedule 3-Loan Funds Rs. Lakhs Particulars 31.03.2005 31.03.2004 Secured Loans (Refer Note no 6 of schedule 13) A. Debentures - unquoted i) 75,00,000 14.5% Secured Redeemable Non-convertible Debentures of Rs.100 each 7,500.00 7,500.00 ii) 6,71,602 14.5% Secured Redeemable Non-convertible Debentures of Rs.100 each 503.70 503.70 iii) 80,00,000 15 % Secured Redeemable Non-convertible Debentures of Rs.100 each 2,933.50 2,933.50 iv) 1,53,30,000 15 % Secured Redeemable Non-convertible Debentures of Rs.100 each 15,330.00 15,330.00 v) 25,00,000 15 % Secured Redeemable Non-convertible Debentures of Rs.100 each 2,500.00 2,500.00 vi) 30,00,000 13.25% Secured Redeemable Non-convertible Debentures of Rs.100 each 3,000.00 3,000.00 vii) 32,00,000 12.50 % Secured Redeemable Non-convertible Debentures of Rs.100 each 1,800.00 2,577.98 viii)33,49,36,238 0 % Secured Redeemable Non-convertible Debentures of Rs. 1/- each 3,349.36 - ix) Interest accrued and due 344.86 60.21 37,261.42 34,405.39 B. From Institutions - Term Loans i) in Rupees 78,657.94 80,709.59 ii) in Foreign currency 5,377.77 10,953.93 iii) Differential Interest - 5,161.12 iv) Interest accrued and due 8.82 26.94 C. From Banks i) Working Capital Demand Loans / Cash Credit 13,018.85 12,226.76 ii) Term Loans 10,546.70 16,995.61 iii) Differential Interest - 1,914.65 iv) Interest accrued and due 52.79 97.02 Unsecured Loans TOTAL 144,924.29 162,491.01 Fixed Deposits 0.15 50.85 Sales Tax Deferral - Loan 4,362.68 3,687.83 HDFC Loan 106.80 182.10 TOTAL 4,469.63 3,920.78 Schedule 4 - Fixed Assets Rs. Lakhs Gross Block at Cost Depreciation Net Block Particulars As at Additions Additions Deductions / As at upto on For the Deduc- Upto As at As at Additions 31.03.2004 during on amal - the year gamation Adjustment31.03.2005 31.03.2004 amal - year tions/ 31.03.2005 31.03.2005 31.03.2004 during the gamation Adjustments year Land (Refer foot note 3) 10,749.43 7.79 276.66 283.47 10,750.41 - - - - - 10,750.41 10,749.43 Buildings 9,592.22 6,346.57 112.07 141.73 15,909.13 2,700.92 22.59 268.19 16.98 2,974.72 12,934.41 6,891.30 Roads, Drains & Culverts 1,120.14 3,100.27 - - 4,220.41 195.49 - 18.76 - 214.25 4,006.16 924.65 Railway Siding 1,352.62 125.60 - - 1,478.22 619.46 - 64.28 - 683.74 794.48 733.16 Plant & Machinery 198,970.16 132,671.12 527.24 809.86 331,358.66 92,875.33 261.24 10,821.31 0.98 103,956.91 227,401.75 106,094.83 Furniture, Fixtures & Office Equipment 2,574.64 149.54 59.38 155.80 2,627.76 1,741.83 37.92 177.50 107.87 1,849.38 778.38 832.81 Vehicles 161.57 30.77 14.89 11.38 195.85 96.96 3.82 15.49 8.35 107.91 87.94 64.61 Leased assets : Plant & Machinery A - Ongoing leases 11,399.97 - - - 11,399.97 4,722.98 - 601.92 - 5,324.90 6,075.07 6,676.99 B - Run off leases *** 3,630.00 - - - 3,630.00 1,631.11 - 191.65 - 1,822.76 1,807.24 1,998.89 Lease Terminal adjustment (5,221.70) (5,742.08) Capital work in progress: Buildings 0.35 77.80 - - 78.15 - - - - - 78.15 - Plant & Machinery 0.00 1,431.98 - - 1,431.98 - - - - - 1,431.98 - 239,551.10 @143,941.44 990.24 @ 1,402.24 383,080.54 104,584.08 325.57 12,159.10 134.18 116,934.57 *260,924.27 *129,224.59 Previous Year 239,034.86 580.72 - 64.83 239,550.75 92,453.27 12,163.82 33.02 104,584.08 *129,224.59 1. Additions to Plant & Machinery include: (i) Rs. 43.29 lakhs (Debit) on account of exchange rate variation ( previous year Rs.940.56 lakhs (credit)) and (ii) Rs. Nil (previous year Rs. 1461.50 lakhs ) on account of capitalisation of machinery spares as required under Accounting Standard 10 - Accounting for Fixed Assets issued by Institute of Chartered Accountants of India. 2. * Net of lease Terminal adjustment. 3. The company has re-valued its free hold land as on 31.03.2003 admeasuring 1040.28 acres, situated at Kakinada (plant site), on the basis of reports of approved valuer on “present market value basis (Standard Indices) method”. Accordingly, Rs.8842.38 lakhs, being re-valued amount stands substituted for the historical cost in the gross block of fixed assets. 4. @ Includes Rs. 6346.57 lakhs, Rs. 3100.27 lakhs, Rs. 125.60 lakhs, Rs. 132185.30 lakhs respectively in Buildings,Roads Drains Culverts, Railway sidings and Plant & Machinery representing increase in value pursuant to report of approved valuer on revaluation of manufacturing facilities at Kakinada and Rs. 808.89 lakhs is decrease in respect of certain assets (refer Note 8 of schedule 13) 5. Land and buildings include Rs. 317.00 lakhs and Rs.730.00 lakhs respectively, paid as advance, pending registration since the title deeds are yet to be received from the transferor company. 6. *** Represents leases where lease period is over, and release of equipment to lessee is pending. 26
NFCL Schedules forming part of the Balance Sheet as at 31st March, 2005 Schedule 5 - Investments ( at cost) Particulars Face 31.03.2005 31.03.2004 Value Rupees Numbers Rs. lakhs Numbers Rs. lakhs LONGTERM INVESTMENTS: I. Equity Shares - Unquoted a) Equity Shares (Fully Paid) Nagarjuna Palma (India) Ltd. 10 - - 192,815 6.14 Nagarjuna Agricultural Research and Development Institute 10 25,020 2.50 25,020 2.50 KVK Raju International Leadership Academy 10 150,000 15.00 150,000 15.00 17.50 23.64 b) Shares in Subsidiary companies-Unquoted Nagarjuna Oil Corporation Limited 10 577,000,000 57,700.00 530,000,000 53,000.00 Jaiprakash Engg. & Steel Co. Ltd 10 22,561,693 2,256.17 6,191,993 619.20 Nagarjuna Power Corporation Limited 10 64,000,000 6,400.00 - - 66,356.17 53,619.20 II. Equity Shares - Quoted (Fully paid - other than trade) Essar Oil Ltd. 10 - - 5,749 2.54 IFCI Ltd 10 - - 100,000 10.00 Sri Saritha Software and Industries Ltd. 10 391,275 36.53 391,275 36.53 State Bank of Bikaner and Jaipur 100 3,670 19.37 3,670 19.37 State Bank of Travancore 100 8,540 50.47 8,540 50.47 Times Guarantee Financials Ltd. 10 7,900 10.92 7,900 10.92 117.29 129.83 66,490.96 53,772.67 Less: Provision for dimunition in value of Quoted investments 47.07 48.95 TOTAL 66,443.89 53,723.72 Aggregate cost of Quoted Shares 117.29 129.83 Aggregate Market Value of Quoted Shares 260.68 206.32 1. Shares held in subsidiary companies are under pledge with Banks/Financial Institutions as security for the loans availed by the Company 2. During the year under report Nagarjuna Power Corporation Ltd. and Nagarjuna Plama India Ltd. became subsidiaries of the Company pursuant to allotment of shares by the respective Companies. Further Nagarjuna Palma India Limited was merged with the company pursuant to the Scheme of amalgamation (refer Note 4 of schedule 13) 27
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NFCL<br />
Schedules forming part of the Balance Sheet as at 31st March, 2005<br />
Schedule 5 - Investments ( at cost)<br />
Particulars<br />
Face 31.03.2005 31.03.<strong>2004</strong><br />
Value<br />
Rupees Numbers Rs. lakhs Numbers Rs. lakhs<br />
LONGTERM INVESTMENTS:<br />
I. Equity Shares - Unquoted<br />
a) Equity Shares (Fully Paid)<br />
<strong>Nagarjuna</strong> Palma (India) Ltd. 10 - - 192,815 6.14<br />
<strong>Nagarjuna</strong> Agricultural Research and<br />
Development Institute 10 25,020 2.50 25,020 2.50<br />
KVK Raju International Leadership Academy 10 150,000 15.00 150,000 15.00<br />
17.50 23.64<br />
b) Shares in Subsidiary companies-Unquoted<br />
<strong>Nagarjuna</strong> Oil Corporation Limited 10 577,000,000 57,700.00 530,000,000 53,000.00<br />
Jaiprakash Engg. & Steel Co. Ltd 10 22,561,693 2,256.17 6,191,993 619.20<br />
<strong>Nagarjuna</strong> Power Corporation Limited 10 64,000,000 6,400.00 - -<br />
66,356.17 53,619.20<br />
II.<br />
Equity Shares - Quoted<br />
(Fully paid - other than trade)<br />
Essar Oil Ltd. 10 - - 5,749 2.54<br />
IFCI Ltd 10 - - 100,000 10.00<br />
Sri Saritha Software and Industries Ltd. 10 391,275 36.53 391,275 36.53<br />
State Bank of Bikaner and Jaipur 100 3,670 19.37 3,670 19.37<br />
State Bank of Travancore 100 8,540 50.47 8,540 50.47<br />
Times Guarantee Financials Ltd. 10 7,900 10.92 7,900 10.92<br />
117.29 129.83<br />
66,490.96 53,772.67<br />
Less: Provision for dimunition in value of Quoted<br />
investments 47.07 48.95<br />
TOTAL 66,443.89 53,723.72<br />
Aggregate cost of Quoted Shares 117.29 129.83<br />
Aggregate Market Value of Quoted Shares 260.68 206.32<br />
1. Shares held in subsidiary companies are under pledge with Banks/Financial Institutions as security for the loans availed<br />
by the Company<br />
2. During the year under report <strong>Nagarjuna</strong> Power Corporation Ltd. and <strong>Nagarjuna</strong> Plama India Ltd. became subsidiaries<br />
of the Company pursuant to allotment of shares by the respective Companies. Further <strong>Nagarjuna</strong> Palma India Limited<br />
was merged with the company pursuant to the Scheme of amalgamation (refer Note 4 of schedule 13)<br />
27
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