105 / 168
103
(
`
cr)
NOTE 12 FIXED ASSETS
ASSET BLOCK
GROSS BLOCK (a)
DEPRECIATION | AMORTISATION | IMPAIRMENT
NET BLOCK
As at
March 31,
2014
Additions
Other
adjustments
Deductions
and
adjustments
As at
March 31,
2015
Depreciation
upto
March 31,
2014
For the
year
Deductions
and
adjustments
(c)
As at
March 31,
2015
Impairment
fund
March 31,
2015
Depreciation
and
impairment
fund
March 31,
2015
As at
March 31,
2015
As at
March 31,
2014
Tangible assets
Land - freehold (b) and (e)
16.54
–
(7.29)
–
9.25
–
–
–
–
–
–
9.25
16.54
Land - leasehold (b) and (e)
24.60
–
(20.04)
–
4.56
2.25
0.04
1.39
0.90
–
0.90
3.66
22.35
Buildings (b), (d) and (e)
247.82
18.28
(87.45)
0.87 177.78
71.63 10.04
11.15
70.52
–
70.52 107.26
176.19
Roads
3.31
0.10
–
–
3.41
1.35
1.27
–
2.62
–
2.62
0.79
1.96
Plant and equipment (f) and (g) 882.35 103.51
2.14
1.24 986.76
573.40 54.44
1.16 626.68
21.03
647.71 339.05
287.92
Railway siding
0.08
–
–
–
0.08
0.08
–
–
0.08
–
0.08
–
–
Office equipment and furniture
29.51
1.58
–
0.01
31.08
20.26
1.57
0.01
21.82
–
21.82
9.26
9.25
Vehicles
14.58
1.67
–
1.33
14.92
9.19
1.70
0.75
10.14
–
10.14
4.78
5.39
Total tangible assets
1,218.79 125.14 (112.64)
3.45 1,227.84
678.16 69.06
14.46 732.76
21.03
753.79 474.05 519.60
Intangible assets
Computer software
12.87
0.29
–
– 13.16
12.87
0.08
– 12.95
–
12.95
0.21
–
Total intangible assets
12.87
0.29
–
–
13.16
12.87
0.08
–
12.95
–
12.95
0.21
–
Total as at
1,231.66 125.43 (112.64)
3.45 1,241.00
691.03 69.14
14.46 745.71 21.03
766.74 474.26 519.60
March 31, 2015
Total as at
1,158.56
87.19
8.53
22.62 1,231.66
556.81 56.53
22.31 691.03
21.03
712.06 519.60
March 31, 2014
Notes:
a)
At cost, except certain building premises which are stated at fair value.
b)
The Company had, in the year 1985 and 2008 revalued certain land and buildings. The residual value of which as at April 01, 2014 aggregated
`
102.40 cr. However, with passage of time, the equitable values of the assets under
the heads of land and buildings are overall much higher than their carrying values, vitiating the objective of the original exercise of revaluation. The Company has therefore changed its Accounting Policy and decided to show these
fixed assets at historical cost only. Accordingly, the Company has reversed the aforesaid amount of Revaluation reserve, which will result in these assets being stated at their historical cost less accumulated depreciation. The above
accounting treatment does not have any impact on the Statement of Profit and Loss for the current and subsequent years.
c)
Consequent to the enactment of the Companies Act, 2013 (Act) and its applicability for accounting periods commencing on or after April 01, 2014, the Company has re-worked depreciation with reference to the useful lives of fixed
assets prescribed by PART ‘C’ of Schedule II to the Act or the useful lives of assets as estimated by the Company, whichever is lower. Where the remaining useful life of an asset is nil, the carrying amount of the asset after retaining
the residual value, as at April 01, 2014 has been adjusted to the General reserve. In other cases the carrying values have been depreciated over the remaining useful lives of the assets and recognised in the Statement of Profit and
Loss. As a result the charge for depreciation is lower by
`
2.37 cr for the year ended March 31, 2015.
d)
Includes premises on ownership basis
`
1.10 cr (Previous year:
`
1.10 cr) and cost of fully paid share in co-operative society
`
2,000 (Previous year:
`
2,000).
e)
Pursuant to the order passed by Honourable High Court of Gujarat, dated November 17, 2008 and April 17, 2009 in case of water charges, the Company has created first charge over its certain land and buildings in favour of
Government of Gujarat and paid security deposit
`
2 cr (Previous year:
`
2 cr).
f)
Exchange rate difference capitalised during the year
`
2.14 cr (Previous year:
`
8.53 cr).
g)
Exchange rate difference which remains unamortised in accordance with the option exercised under Para 46A of Accounting Standard-11 is
`
17.18 cr (Previous year:
`
16.62 cr).
h)
Break-up of depreciation for the year
(
`
cr)
Particulars
2014-15 2013-14
Depreciation | Amortisation expenses for the year
69.14
56.53
Less: Amount withdrawn from Revaluation reserve (refer Note 3)
–
2.06
Less: Transferred to the General reserve
13.86
–
Less: Depreciation in respect of earlier year
–
0.24
Depreciation | Amortisation expenses as per the Statement of Profit and Loss
55.28
54.23
Notes
to the Financial Statements