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Arvee Laboratories (India) Ltd. Notes to Accounts
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You can view the entire text of Notes to accounts of the company for the latest year
Market Cap. (Rs.) 158.03 Cr. P/BV 5.63 Book Value (Rs.) 25.46
52 Week High/Low (Rs.) 209/84 FV/ML 10/1 P/E(X) 38.37
Bookclosure 22/09/2023 EPS (Rs.) 3.74 Div Yield (%) 0.00
Year End :2018-03 

1. CORPORATE INFORMATION:

Arvee Laboratories (India) Ltd. ("the company") is a listed entity incorporated in India.

The addresses of its registered office is 49/3 B, Shyamal Row Houses, 100 FT Road, Nr Sanjay Tower, Satellite, Ahmedabad, Gujarat, India.

During the Financial Year 2017-18 Fresh 1,460,000 equity shares of Rs. 10/- each were issued and alloted @ Rs. 61/- Per share fully paid (Face Value of Rs. 10/- each at premium of Rs. 51/- per share).

b. Terms / Rights attached to Equity Shares

The Company has only one class of equity shares having a par value of Rs.10/- per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing annual general meeting.

During the year ended 31st March 2018, No dividend is declared by Board of Directors. (Previous year - Nil)

c. Shares held by Holding / Ultimate holding company and/or their subsidiaries/associates: Not Applicable

d. Shares reserved for issue under options: NIL

e. Aggregate number of bonus shares issued, shares issued for consideration other than cash and shares brought back during the period of five years immediately preceding the reporting date: NIL

f. Securities convertible into equity / preference shares issued along with the earliest date of conversion: NIL

g. Forfeited Shares : NIL

The details of security of the long term borrowings are set out below :

Description of Security offered to Standard Chartered Bank by way of Exclusive first charge of the following property/assets: |

1. Hypothecation of Plant and Machinery of the company.

2. Registered Mortgage over the company's 1. R.S. No. 316 paiki Plot No 1 area admeasuring about 7183 sq mtr with construction thereon mouje kardej Ta. & Dist Bhavnagar, 2. residential flat No 403, Kailash Apartment, Nr. Gogha Circle, Bhavnaghar & residential flat No 103, Pruthvi Plaza, Nr Gogha Circle, Bhavnagar.

3. First charge on entire current assets of the company including Raw Materials, Stock in process, Finished goods, spares & Receivables (not more than 90 days) present and future.

4. Personal Guarantee of Directors

Rate of Interest & Repayment terms of Loans:

1. Term Loans taken from Standard Chartered Bank bear 10.35% rate of interest per annum.

2. Term Loans taken from Standard Chartered Bank are repayable in 60 monthly installments.

Rate of Interest & Repayment terms of Unsecured loans taken from Directors:

1. Unsecured Loans taken from Directors bear 15% rate of interest per annum

2. Unsecured Loans taken from Directors are repayable after 5 years from the date of acceptance.

Rate of Interest & Repayment terms of Unsecured loans taken from Related parties:

1. Unsecured Loans taken from Related Parties bear 15% rate of interest per annum.

2. Unsecured Loans taken from Related Parties are repayable after 5 years from the date of acceptance.

The details of security of the Short term borrowings are set out below :

Description of Security offered to Standard Chartered Bank by way of Exclusive first charge of the following property/assets:

1. Hypothecation of Plant and Machinery of the company.

2. Registered Mortgage over the company's 1. R.S. No. 316 paiki Plot No 1 area admeasuring about 7183 sq mtr with construction thereon mouje kardej Ta. & Dist Bhavnagar, 2. residential flat No 403, Kailash Apartment, Nr. Gogha Circle, Bhavnaghar & residential flat No 103, Pruthvi Plaza, Nr Gogha Circle, Bhavnagar.

3. First charge on entire current assets of the company including Raw Materials, Stock in process, Finished goods, spares & Receivables (not more than 90 days) present and future.

4. Personal Guarantee of Directors

Rate of Interest & Repayment terms of Loans:

1. Cash Credit Loans taken from Standard Chartered Bank bear 10.15% rate of interest per annum.

2. Short Term Loans taken from Standard Chartered Bank are repayable on demand.

2.0. NOTES TO ACCOUNTS:

3. Figures of previous year are regrouped and rearranged whenever necessary and rounded off to the nearest rupee for better presentation of accounts. The notes referred in the balance sheet and profit and loss statement form an integral part of the accounts. The Debit and Credit balances of debtors, creditors, loans and advances and unsecured loans are subject to confirmation and reconciliation.

4. In the opinion of the Directors, and to the best of their knowledge and belief, the value of realization of current assets and loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the balance sheet. Provision for all known liabilities is adequate and not in excess of amount reasonably necessary.

5. The Micro, Small and Medium Enterprises Development Act, 2006 is operational w.e.f. 02.10.2006. Since the company does not possess the relevant data regarding the Micro, Small and Medium Enterprises, we are unable to report thereon.

6. Considering the nature of Company's business and operation, there are no separate reportable segments (business or geographical) in accordance with the requirements of Accounting Standard 17 -"Segmental Reporting".


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Mumbai Office: 52, Jolly Maker Chamber 2, Nariman Point, Mumbai - 400021, Tel: 022-45106700, Toll Free Number: 1800-103-6700

Compliance Officer: Mukesh Rustagi, Company Secretary, Tel: 011-46890000, Email: mukesh_rustagi80@hotmail.com
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