Annual Report 2004 - Nagarjuna Fertilizers

NFCL
Schedules to the Consolidated Balance Sheet as at 31st March, 2005
Schedule 4 - Fixed Assets
Rs. Lakhs
Gross Block at Cost Depreciation Net Block
Particulars
As at
31.03.2004
Additions/
Adjustments
during
the year
Additions/
Adjustments
on amal -
gamation
Deductions /
Adjustments
during the
year
Previous Year 239,603.52 581.12 - 66.31 240,118.33 92,561.59 - 12,191.49 33.46 104,719.62 129,656.63
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 9 of schedule 15).
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.
7. # includes depreciation relating to construction period Rs.30.62 lakhs (previous year Rs.27.67 lakhs)
8. ** includes Rs.38.98 lakhs relating to NPCL
Schedule 5 - Capital Work in Progress
Rs. Lakhs Schedule 6 - Expenditure Pending Allocation
Rs. Lakhs
Particulars 31.03.2005 31.03.2004 Particulars 31.03.2005 31.03.2004
Site Development 972.29 915.50
Building under construction 168.76 168.76
Plant & Machinery:
Equipment at Site * 45,526.16 43,984.81
Construction Power 21.51 21.51
Technical Services 8,927.38 8,581.97
Advances against Capital Expenditure:
Land 357.50 357.50
Site Development - Contractors 28.89 28.89
Buildings - Contractors - 55.63
Technical Know How 19.94 52.18
Plant & Machinery
Equipment Suppliers 11,598.97 11,598.97
Unloading & Transport 65.00 102.84
Total 67,686.40 65,868.56
* includes customs duty Rs.6851 lakhs (previous year Rs. 6629 lakhs)
Cenvatable and Rs.1813 lakhs (previous year Rs.1883 lakhs) exchange rate variation
on loans availed)
As at
31.03.2005
46
upto
31.03.2004
On
amal -
gamation
For the
year
#
Deductions/
Adjustments
during
the year
Upto
31.03.2005
As at
31.03.2005
As at
31.03.2004
Land (Refer foot note 3) 11,013.67 7.79 276.66 283.47 11,014.65 - - - - - 11,014.65 11,013.67
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 0.98 103,956.90 227,401.76 106,094.82
Furniture, Fixtures &
Office Equipment **2,900.19 150.92 59.38 177.93 2,932.56 1,884.90 37.92 206.56 115.95 2,013.42 919.14 992.56
Vehicles 178.34 38.33 14.89 20.30 211.25 105.69 3.82 17.04 13.27 113.28 97.97 72.67
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 - 191.66 - 1,822.77 1,807.23 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 0.35
Plant & Machinery - 1,431.98 - - 1,431.98 - - - - - 1,431.98 -
TOTAL 240,157.66 @143,950.37 990.24 @ 1,433.29 383,664.98 104,735.88** 325.57 #12,189.72 147.18 117,103.98 261,339.30* 129,656.63*
Salaries & Wages 151.78 157.50
Contribution to Provident and Other Funds 17.09 15.47
Staff Welfare expenses 8.05 8.56
Rent 47.72 46.46
Rates & Taxes 45.02 6.30
Repairs & Maintenance - Others 26.86 21.52
Insurance-Office eqpt, Medical & Others 37.44 8.51
Printing and Stationery 1.82 1.87
Postage, Telephone and Telex 10.15 10.00
Travelling and Conveyance 54.57 45.37
Advertisement 1.01 0.26
Recruitment & Training 0.79 0.13
Legal & Professional Charges 172.85 44.80
Directors’ Sitting fees 0.16 0.20
Directors Travel Expenses 17.14 3.16
Auditors Remuneration 3.96 2.67
Profit/Loss on sale of Fixed Assets (Net) 2.51 0.21
Security Expenses 16.01 13.63
Electricity and Water charges 15.68 18.68
Miscellaneous Expenses 9.65 8.43
Depreciation 30.61 27.67
Interest 2,896.66 2,002.06
Financing charges 50.86 37.08
Less: Miscellaneous Income
(includes TDS Rs.2.17 lakhs, (11.25) (13.77)
previous year Rs.1.09 lakhs)
Sub - Total 3,607.14 2,466.78
Brought forward from Previous year 25,833.29 20,630.71
Total 29,440.43 23,097.49