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Atul Ltd | Annual Report 2010-11
(
`
crores)
Schedules
forming part of the accounts
SCHEDULE 16 NOTES FORMING PART OF THE ACCOUNTS
(contd)
2010-11
2009-10
5 C I F value of imports, remittances, expenditure and earnings in
foreign currency
(a) C I F value of imports:
Raw materials
332.88 196.76
Finished goods - for trading
2.84
4.05
Capital goods
2.16
0.80
(b) Expenditure in foreign currency:
Commission
6.48
3.80
Other matters
13.61
7.94
(c) Remittances:
Loan repayments
114.70 28.24
(d) Earnings in foreign currency:
F O B value of exports
651.33 491.25
6 Managerial Remuneration
(a) Calculation of Directors, The Chairman &Managing Directors’ commission:
Computation of Net Profit as per Section 349 of the Companies
Act,1956
Profit as per Profit and Loss Account
90.00 56.81
Add: The Chairman & Managing Directors’ remuneration
(including perquisites)
2.49
2.41
Whole time Directors’ remuneration (including perquisites)
0.62
0.56
Directors’ commission
0.50
0.27
Depreciation
38.54
37.30
Provision for taxation
49.28
22.94
Provision for diminution in value of investments
-
0.11
Payment under VRS scheme
0.44
1.82
91.87 65.41
181.87 122.22
Less: Depreciation under section 350
38.54
37.30
Impairment written back
0.89
-
39.43 37.30
Net Profit as per Section 349 of the Companies Act,1956
142.44 84.92
(i) Commission to The Chairman & Managing Director:
1% of the profit computed above
`
1.42 crores
Maximum upto
`
0.94 crore
0.94
0.85
Commission to Managing Director:
0.50% of the profit computed above
`
0.72 crore
Maximum upto
`
0.40 crore
0.40
0.40
1.34
1.25