Professional Documents
Culture Documents
FINANCIAL STATEMENTS OF
T.STANES AND COMPANY LIMITED
AND ITS SUBSIDIARIES
TSCS 2
M TSCS ANNUAL REPORT & ACCOUNTS
We have audited the accompanying consolidated financial statements of T STANES AND COMPANY LIMITED
(the “Company”), and its subsidiaries (the Company and its subsidiaries constitute “the Group”), which comprise
the Consolidated Balance Sheet as at 31st March, 2014, the Consolidated Statement of Profit and Loss and the
Consolidated Cash Flow Statement for the year then ended, and a summary of the significant accounting
policies and other explanatory information.
The Company’s Management is responsible for the preparation of these consolidated financial statements that
give a true and fair view of the consolidated financial position, consolidated financial performance and consolidated
cash flows of the Group in accordance with the accounting principles generally accepted in India. This responsibility
includes the design, implementation and maintenance of internal control relevant to the preparation and presentation
of the consolidated financial statements that give a true and fair view and are free from material misstatement,
whether due to fraud or error.
Auditors’ Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We
conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants
of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to
obtain reasonable assurance about whether the consolidated financial statements are free from material
misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in
the consolidated financial statements. The procedures selected depend on the auditor’s judgment, including
the assessment of the risks of material misstatement of the consolidated financial statements, whether due
to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the
Company’s preparation and presentation of the consolidated financial statements that give a true and fair
view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the Company’s internal control. An audit also includes evaluating
the appropriateness of the accounting policies used and the reasonableness of the accounting estimates
made by the Management, as well as evaluating the overall presentation of the consolidated financial
statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion.
TSCS 3
TSCS ANNUAL REPORT & ACCOUNTS M
Opinion
In our opinion and to the best of our information and according to the explanations given to us, and based on the
consideration of the Independent Auditors’ Reports on the financial statements of the Company and its subsidiaries,
the aforesaid consolidated financial statements give a true and fair view in conformity with the accounting
principles generally accepted in India:
(a) in the case of the Consolidated Balance Sheet, of the state of affairs of the Group as at 31st March,
2014;
(b) in the case of the Consolidated Statement of Profit and Loss, of the profit of the Group for the year
ended on that date; and
(c) in the case of the Consolidated Cash Flow Statement, of the cash flows of the Group for the year
ended on that date.
C.R. Rajagopal
Chennai Partner
Dated : 30th May, 2014 Membership No. 23418
TSCS 4
ACCOUNTS
TSCS ANNUAL REPORT & ACCOUNTS M
In terms of our report attached For and on behalf of the Board of Directors
For FRASER & ROSS A. KRISHNAMOORTHY S. RAMANUJACHARI
Chartered Accountants Chairman Director
C.R. RAJAGOPAL P. M. VENKATASUBRAMANIAN K. S. HEGDE
Partner Director Director
R. VIJAYARAGHAVAN Mrs. LAKSHMI NARAYANAN
Director Whole Time Director
K. K. UNNI P.S. BOPAIAH
Director Whole Time Director
Place: Chennai-600 002 S. RAMACHANDRA S. C. SEKAR
Date : 30th May, 2014 Director Chief Financial Officer
TSCS 6
M TSCS ANNUAL REPORT & ACCOUNTS
REVENUE ` `
In terms of our report attached For and on behalf of the Board of Directors
For FRASER & ROSS A. KRISHNAMOORTHY S. RAMANUJACHARI
Chartered Accountants Chairman Director
C.R. RAJAGOPAL P. M. VENKATASUBRAMANIAN K. S. HEGDE
Partner Director Director
R. VIJAYARAGHAVAN Mrs. LAKSHMI NARAYANAN
Director Whole Time Director
K. K. UNNI P.S. BOPAIAH
Director Whole Time Director
Place: Chennai-600 002 S. RAMACHANDRA S. C. SEKAR
Date : 30th May, 2014 Director Chief Financial Officer
TSCS 7
TSCS ANNUAL REPORT & ACCOUNTS M
T. STANES AND COMPANY LIMITED AND ITS SUBSIDIARIES
CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31st MARCH 2014
TSCS 8
M TSCS ANNUAL REPORT & ACCOUNTS
In terms of our report attached For and on behalf of the Board of Directors
For FRASER & ROSS A. KRISHNAMOORTHY S. RAMANUJACHARI
Chartered Accountants Chairman Director
C.R. RAJAGOPAL P. M. VENKATASUBRAMANIAN K. S. HEGDE
Partner Director Director
R. VIJAYARAGHAVAN Mrs. LAKSHMI NARAYANAN
Director Whole Time Director
K. K. UNNI P.S. BOPAIAH
Director Whole Time Director
Place: Chennai-600 002 S. RAMACHANDRA S. C. SEKAR
Date : 30th May, 2014 Director Chief Financial Officer
TSCS 9
TSCS ANNUAL REPORT & ACCOUNTS M
T. STANES AND COMPANY LIMITED AND ITS SUBSIDIARIES
NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS
TSCS 10
M TSCS ANNUAL REPORT & ACCOUNTS
(v) The consolidated financial statements have been prepared using uniform accounting policies
for like transactions and other events in similar circumstances are presented to the extent
possible, in the same manner as the Company’s separate financial statements.
2.3 USE OF ESTIMATES
The preparation of the financial statements in conformity with Indian GAAP requires the
Management to make estimates and assumptions considered in the reported amounts of assets
and liabilities (including contingent liabilities) and the reported income and expenses during the
year. The Management believes that the estimates used in preparation of the financial statements
are prudent and reasonable. Future results could differ due to these estimates and the differences
between the actual results and the estimates are recognised in the periods in which the results
are known / materialise.
2.4 INVENTORIES
Raw materials, Finished goods and Trading Stock are valued at lower of cost and net realizable
value. Cost is determined using moving average method .Stores and spare parts are valued at
average cost.
2.5 CASH AND CASH EQUIVALENTS (FOR PURPOSE OF CASH FLOW STATEMENT)
Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-
term balances, highly liquid investments that are readily convertible into known amounts of cash
and which are subject to insignificant risk of changes in value.
2.6 CASH FLOW STATEMENT
Cash flow statement has been prepared in accordance with the indirect method prescribed in
Accounting Standard 3 Cash Flow Statement.
2.7 DEPRECIATION
Depreciation on Fixed Assets is provided on straight line basis in accordance with Schedule XIV
of the Companies Act, 1956
2.8 REVENUE RECOGNITION
Sales are accounted on transfer of property in goods at net of Sales Tax, but inclusive of Excise
Duty where applicable. Quantitative and other rebates to dealers linked to realization of receivables
are accounted in the year of determination. Revenue from sale of services is recognised when
the services are rendered and related costs are incurred.Agency commission on Consignment
sales are accounted and recognized on receipt of commercial invoices from principals.
Interest income is accounted on accrual basis. Dividend income is accounted for when the right
to receive it is established.
TSCS 11
TSCS ANNUAL REPORT & ACCOUNTS M
T. STANES AND COMPANY LIMITED AND ITS SUBSIDIARIES
NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS
TSCS 12
M TSCS ANNUAL REPORT & ACCOUNTS
2.16 LEASES
Assets acquired as leases where a significant portion of the risks and rewards of ownership are
retained by the lessor are classified as operating leases and lease rentals thereon are charged to
Statement of Profit and Loss.
2.17 ACCOUNTING FOR TAXES ON INCOME
Tax expense comprises both current and deferred income taxes. Current tax is the provision
made for tax liability on the profits for the year computed in accordance with the provisions of the
Act as applicable. Deferred income taxes reflect the impact of timing differences between
taxable income and accounting income for the year and reversal of timing differences of earlier
years. Deferred tax is measured based on the tax rates and tax laws enacted substantively at
the Balance Sheet date.
2.18 RESEARCH & DEVELOPMENT
Revenue expenditure on R&D is charged to Statement of Profit and Loss and capital expenses
on Research & Development are included in Fixed Assets under appropriate heads.
2.19 COSTS OF NEW PRODUCTS REGISTRATION, TEHCNICAL KNOW- HOW FEE AND DATA
DEVELOPMENT COSTS:
The costs related to new products registration, project technical know how fee and data
development costs (for ensuring safety parameters and development of toxicity data and bio-
efficacy data) are absorbed in the accounts for each financial year on the basis of actual volumes
of sales of the respective product group or services made for both domestic and export markets
over a period not exceeding 10 years.
2.20 IMPAIRMENT OF ASSETS
An asset is treated as impaired when the carrying cost of the asset exceeds its recoverable
value. An impairment loss is charged to Statement of Profit and Loss in the year in which the
asset is identified as impaired. The impairment loss recognized in prior accounting periods is
reversed if there has been a change in the estimate of recoverable amount.
2.21 PROVISIONS
Provisions involving substantial degree of estimation in measurement are recognized when there
is a present obligation as a result of past events and it is probable that there will be an outflow of
resources. Contingent Liabilities are not recognized but are disclosed in the notes. Contingent
assets are neither recognized nor disclosed in the financial statements. Interest on dealer deposit
(Other than stock point dealer deposits) is determined and paid on cessation of such dealership
on cash basis at the discretion of the management.
2.22 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 in receiving the claims.
2.23 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 no uncertainty in availing / utilising the credits.
TSCS 13
TSCS ANNUAL REPORT & ACCOUNTS M
T. STANES AND COMPANY LIMITED AND ITS SUBSIDIARIES
NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS
(c) Details of shares held by each As at 31st March 2014 As at 31st March 2013
shareholder holding more than
5% shares: Nos. % Nos. %
Equity shares with voting rights
M/s.Simpson and Company Ltd.,
the Holding company 13,67,523 55 13,67,523 55
M/s. Amalgamations Private Limited,
the Ultimate Holding Company 2,85,895 11 2,85,895 11
TSCS 14
M TSCS ANNUAL REPORT & ACCOUNTS
As at 31st As at 31st
Particulars March, 2014 March, 2013
TSCS 15
T. STANES AND COMPANY LIMITED AND ITS SUBSIDIARIES
NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS
Note 5 – LONG-TERM BORROWINGS
Secured: ` `
Term loans - From banks 1,43,20,104 2,91,00,104
Long-term maturities of hire purchase obligations (Refer note 34) 38,66,514 66,98,608
Unsecured:
Deposits from Public (Refer note 31) 3,86,82,000 4,62,71,000
TSCS ANNUAL REPORT & ACCOUNTS
TSCS 16
Non-Current Current Total Non-Current Current Total
Secured Borrowings ` ` ` ` ` `
Term loans from banks: Secured by hypothecation of machinery and
other assets. The outstanding is repayable in
16 quarterly instalments 1,43,20,104 1,47,75,000 2,90,95,104 2,91,00,104 1,47,75,000 4,38,75,104
Long-term maturities of hire purchase Secured by hypothcation of the
obligations assets purchased and repayable in
30 monthly instalments upto Sep 2016 31,43,127 50,08,020 81,51,147 55,32,802 58,89,060 1,14,21,862
16 monthly instalments upto July 2015 2,00,000 6,44,448 8,44,448 8,44,448 7,33,332 15,77,780
19 monthly instalments upto October 2016 5,23,387 6,24,036 11,47,423 3,21,358 3,02,592 6,23,950
Unsecured Borrowings
Deposits from public Re-payable within 3 years 3,86,82,000 1,84,62,000 5,71,44,000 4,62,71,000 1,99,98,000 6,62,69,000
Total 5,68,68,618 3,95,13,504 9,63,82,122 8,20,69,712 4,16,97,984 12,37,67,696
M
M TSCS ANNUAL REPORT & ACCOUNTS
On difference between book balance and tax balance of fixed assets 3,85,71,455 3,80,86,859
Trade payables
Secured:
Unsecured:
TSCS 17
TSCS ANNUAL REPORT & ACCOUNTS M
T. STANES AND COMPANY LIMITED AND ITS SUBSIDIARIES
NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS
Cash Credit and Overdraft Floating charge on the stocks and 3,50,73,858 3,92,15,968
book debts of the Company.
Collateral guarantee given by
T.Stanes & Company Ltd –
Holding Company.
TSCS 18
M TSCS ANNUAL REPORT & ACCOUNTS
TSCS 19
T. STANES AND COMPANY LIMITED AND ITS SUBSIDIARIES
NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 13 – FIXED ASSETS
` ` ` ` ` ` ` ` ` ` `
LAND 1,35,98,594 – – 1,35,98,594 – – – – – 1,35,98,594 1,35,98,594
(1,40,35,487) – (4,36,893) (1,35,98,594) – – – – – – –
TSCS ANNUAL REPORT & ACCOUNTS
60,08,631 60,08,631
Others
In Government Securities –
National Saving Certificate 82,700 81,700
26,04,700 26,03,700
TSCS 21
TSCS ANNUAL REPORT & ACCOUNTS M
T. STANES AND COMPANY LIMITED AND ITS SUBSIDIARIES
NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS
TSCS 22
M TSCS ANNUAL REPORT & ACCOUNTS
TDS – 6,10,595
Others
Accruals
Others
TSCS 23
TSCS ANNUAL REPORT & ACCOUNTS M
T. STANES AND COMPANY LIMITED AND ITS SUBSIDIARIES
NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS
TSCS 24
M TSCS ANNUAL REPORT & ACCOUNTS
TSCS 25
TSCS ANNUAL REPORT & ACCOUNTS M
T. STANES AND COMPANY LIMITED AND ITS SUBSIDIARIES
NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS
TSCS 26
M TSCS ANNUAL REPORT & ACCOUNTS
TSCS 27
TSCS ANNUAL REPORT & ACCOUNTS M
T. STANES AND COMPANY LIMITED AND ITS SUBSIDIARIES
NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS
As at As at
Particulars 31st March, 31st March,
2014 2013
` `
Note 29 – CONTINGENT LIABILITIES
(a) Financial Guarantee to Bankers on account of
Subsidiary Companies 6,80,00,000 6,80,00,000
(b) Claims against the company not acknowledged as debt
Central Excise 2,29,37,126 2,29,37,126
Income tax – 83,81,851
Central Sales tax 33,22,145 33,22,145
(c) Estimated amount of contracts to be executed on
capital account not provided for 7,65,800 2,85,000
Note 30 – STAFF PENSION FUND
The Company is the sole beneficiary of T.Stanes and Company
Limited Staff Pension Fund. The amount due from the fund as on
31.03.2014 is `. 4,22,463 /- (Previous year `.4,74,294/-).
The income of `. 6,08,327 /- (Previous year `. 11,52,857/-) have
been considered in the accounts of the company for the year.
Note 31 – FIXED DEPOSITS
Fixed Deposits include:
Deposits by Directors 25,00,000 35,00,000
Note 32
The year-end foreign currency exposures that have not been
hedged by a derivative instrument or otherwise are given below:
Trade Receivable
Amount in INR 2,41,69,909 2,76,10,635
Amount in Foreign currency - USD 4,02,434 5,08,671
TSCS 28
M TSCS ANNUAL REPORT & ACCOUNTS
As at As at
Particulars 31st March, 31st March,
2014 2013
` `
Note 34 – HIRE PURCHASE
Later than one year and not later than five years 49,67,693 86,98,766
Later than one year and not later than five years 37,90,051 64,05,929
TSCS 29
TSCS ANNUAL REPORT & ACCOUNTS M
T. STANES AND COMPANY LIMITED AND ITS SUBSIDIARIES
NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS
The estimates of future salary increases considered in the actuarial valuation take account of inflation seniority promotion and other relevant factors
such as supply and demand in the employment market. The above information is actuarially determined upon which reliance is placed by the auditors.
* The details of experience adjustments arising on accountof plan assets and plan liabilities as required by para 120(n)(ii) of AS-15R on employee
benefits are not readily available in the actuarial valuation report and hence are not furnished.
** The details with respect to the composition of investments in the fair value of plan assets managed by LIC have not been disclosed in the absence
of the above said information.
# Depending on age LIC(1994-96) ultimate
TSCS 30
M TSCS ANNUAL REPORT & ACCOUNTS
TSCS 31
T. STANES AND COMPANY LIMITED AND ITS SUBSIDIARIES
NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 36(b) – DETAILS OF RELATED PARTY TRANSACTIONS DURING THE YEAR ENDED 31st MARCH, 2014 AND BALANCES OUTSTANDING AS AT 31st MARCH, 2014:
Service rendered to 4,81,881 4,00,453 6,30,910 50,591 16,93,257 17,97,201 2,48,720 33,101 – – 30,54,768 22,81,346
Interest paid on Loan availed – – 23,04,521 18,99,998 25,36,452 20,70,704 – – – – 48,40,973 39,70,702
Service availed from 39,75,311 39,91,814 9,48,786 12,04,038 36,69,665 33,51,614 – – – – 85,93,762 85,47,466
TSCS 32
Dividend paid to 5,71,790 12,86,528 27,35,046 61,53,854 76,200 1,71,450 – – – – 33,83,036 76,11,832
B) BALANCES AT THE
YEAR END
Equity Participation by 28,58,950 28,58,950 1,36,75,230 1,36,75,230 3,81,000 3,81,000 – – – – 1,69,15,180 1,69,15,180
Loan/Finance facilities
availed from – – 1,00,00,000 1,25,00,000 92,98,570 1,20,45,812 – – – – 1,92,98,570 2,45,45,812
Receivables 7,292 8,833 9,92,826 4,17,537 24,41,571 21,97,595 6,73,492 1,99,065 – – 41,15,181 28,23,030
TOTAL 36,09,48,708 36,21,37,468 4,67,30,106 3,78,79,668 6,90,64,661 7,68,01,935 1,60,94,340 1,66,54,597 84,55,657 45,31,575 50,12,93,472 49,80,05,243
M
T. STANES AND COMPANY LIMITED AND ITS SUBSIDIARIES
NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS – (Contd.)
M
NOTE 36(b) – DETAILS OF RELATED PARTY TRANSACTIONS DURING THE YEAR ENDED 31st MARCH, 2014 AND BALANCES OUTSTANDING AS AT 31st MARCH, 2014:
TSCS 33
Speed-A-Way Private Limited – – – – 1,39,657 1,41,749 – – – – 1,39,657 1,41,749
Amalgamations Private Ltd. 4,81,881 4,00,453 – – – – – – – – 4,81,881 4,00,453
Simpson & Company Limited – – 6,30,910 50,591 – – – – – – 6,30,910 50,591
TAFE Access Limited – – – – 12,15,080 16,55,452 – – – – 12,15,080 16,55,452
India Pistons Limited – – – – – – 2,24,720 – – – 2,24,720 –
Dividend received from
Stanes Amalgamated Estates Ltd. – – – – 5,46,007 – – – – – 5,46,007 –
The United Nilgiri Tea Estates
Company Limited – – – – – – 10,87,200 27,59,816 – – 10,87,200 27,59,816
Interest paid on Loan availed
Simpson & Company Limited – – 23,04,521 18,99,998 – – – – – – 23,04,521 18,99,998
Simpson & General Finance
Company Limited – – – – 25,36,452 20,70,704 – – – – 25,36,452 20,70,704
Purchases
Stanes Amalgamated Estates Ltd. – – – – 18,13,028 29,78,321 – – – – 18,13,028 29,78,321
Southern Tree Farms Limited – – – – 13,75,500 9,96,660 – – – – 13,75,500 9,96,660
The United Nilgiri Tea Estates
Company Limited – – – – – – 9,98,435 17,32,359 – – 9,98,435 17,32,359
Simpson & Company Limited – – – 14,342 – – – – – – – 14,342
Amco Batteries Limited 9,62,544 75,57,871 – – – – 9,62,544 75,57,871
Speed-A-Way Private Limited – – – – 49,514 53,883 – – – – 49,514 53,883
India Pistons Limited – – – – – – – 70,290 – – – 70,290
George Oakes Limited – – – – 12,371 1,207 – – – – 12,371 1,207
Tafe Access Limited – – – – 6,479 68 – – – – 6,479 68
Amalgamations Repco Limited – – – – 5,21,250 5,70,495 – – – – 5,21,250 5,70,495
TSCS ANNUAL REPORT & ACCOUNTS
T. STANES AND COMPANY LIMITED AND ITS SUBSIDIARIES
NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS – (Contd.)
NOTE 36(b) – DETAILS OF RELATED PARTY TRANSACTIONS DURING THE YEAR ENDED 31st MARCH, 2014 AND BALANCES OUTSTANDING AS AT 31st MARCH, 2014:
TSCS 34
Remuneration
Mr. K.S.Hegde – – – – – – – – 32,76,490 40,53,912 32,76,490 40,53,912
Mrs. Lakshmi Narayanan – – – – – – – – 41,37,897 4,77,663 41,37,897 4,77,663
Mr. P.S.Bopaiah – – – – – – – – 10,41,270 – 10,41,270 –
Loans received during the year
Simpson & Company Limited – – 50,00,000 – – – – – – – 50,00,000 –
Loans repaid during the year
Simpson & Company Limited – – 90,00,000 98,082 – – – – – – 90,00,000 98,082
(B) BALANCES OUTSTANDING
AT THE END OF THE YEAR
Equity Participation in
Stanes Amalgamated Estates Ltd. 9,55,278 9,55,278 9,55,278 9,55,278
Stanes MJF Teas Limited – – – – 25,00,000 25,00,000 – – – – 25,00,000 25,00,000
The United Nilgiri Tea Estates
Company Limited – – – – – – 50,53,353 50,53,353 – – 50,53,353 50,53,353
Equity Participation by
Simpson & Company Limited 1,36,75,230 1,36,75,230 – – – – – – 1,36,75,230 136,75,230
Amalgamations Private Limited 28,58,950 28,58,950 – – – – – – – – 28,58,950 28,58,950
Simpson & General Finance
Company Limited – – – – 2,50,000 2,50,000 – – – – 2,50,000 2,50,000
Sri Rama Vilas Service Limited – – – – 1,18,000 1,18,000 – – – – 1,18,000 1,18,000
Tractors and Farm Equipment Ltd. – – – – 13,000 13,000 – – – – 13,000 13,000
M
T. STANES AND COMPANY LIMITED AND ITS SUBSIDIARIES
NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS – (Contd.)
M
NOTE 36(b) – DETAILS OF RELATED PARTY TRANSACTIONS DURING THE YEAR ENDED 31st MARCH, 2014 AND BALANCES OUTSTANDING AS AT 31st MARCH, 2014:
TSCS 35
Southern Tree Farms Limited – – – – 3,52,783 4,00,525 – – – – 3,52,783 4,00,525
The United Nilgiri Tea Estates
Company Limited – – – – – – 6,35,834 1,99,065 – – 6,35,834 1,99,065
Addison Paints & Chemicals Ltd – – – – 21,503 – – – – – 21,503 _
Sri Rama Vilas Service Ltd – – – – 10,235 16,881 – – – – 10,235 16,881
AMCO Batteries Limited – – – – 34,006 – – – – – 34,006 _
India Pistons Limited – – – – 37,658 – – – 37,658 _
TAFE Reach Limited – – – – 5,106 5,106 – – – – 5,106 5,106
Payables to
Amalgamations Private Limited 1,53,484 4,90,890 – – – – – – – – 1,53,484 4,90,890
The United Nilgiri Tea Estates
Company Limited – – – – – – 1,44,264 86,488 – – 1,44,264 86,488
Addisons Paints & Chemicals Limited – – – – – 5,469 – – – – _ 5,469
Stanes Amalgamated Estates Ltd – – – – 1,11,539 2,24,569 – – – – 1,11,539 2,24,569
Southern Tree Farms Ltd – – – – 3,15,000 – – – – – 3,15,000 _
Addison & Company Limited – – – – 24,843 – – – – – 24,843 _
TAFE Access Ltd – – – – 1,234 – – – – – 1,234 _
Tractors & Farm Equipment Limited – – – – 3,21,36,056 3,21,36,056 – – – – 3,21,36,056 3,21,36,056
AMCO Batteries Limited – – – – – 2,63,597 – – – – _ 2,63,597
George Oakes Limited – – – – 2,263 – – – – – 2,263 _
Speed-A-Way Private Limited – – – – 14,413 5,387 – – – – 14,413 5,387
Amalgamations Repco Limited – – – – 2,48,620 2,50,620 – – – – 2,48,620 2,50,620
AMCO Batteries Limited – – – – 1,41,852 2,02,877 – – – – 1,41,852 2,02,877
Guarantee given by
Simpson & Company Limited &
Amalgamations Private Limited 35,29,00,000 35,31,00,000 – – – – – – – – 35,29,00,000 35,31,00,000
TSCS ANNUAL REPORT & ACCOUNTS
TSCS ANNUAL REPORT & ACCOUNTS M
T. STANES AND COMPANY LIMITED AND ITS SUBSIDIARIES
NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS
1. Segment Revenue ` `
TSCS 36