kaya profit loss.pdf

8/14/2019 Kaya Profit Loss.pdf

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KAYA LIMITEDStandalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012

[400100] Disclosure of general information about company

Unless otherwise specified, all monetary values are in Crores of INR

01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011

Name of company KAYA LIMITED

Corporate identity number U85190MH2003PLC139763

Permanent account number of entity AACCK1045L

Address of registered office of company

R a n g S h a r d a , K . C .MargBandra Reclamation,Bandra (W), Mumbai ? 400050

Type of industryC o m m e r c i a l a n dIndustrial

Date of board meeting when final accounts were approved 03/05/2012

Period covered by financial statements 12 12

Date of start of reporting period 01/04/2011 01/04/2010

Date of end of reporting period 31/03/2012 31/03/2011

Nature of report standalone consolidated Standalone

Content of report Statement of Profit & Loss

Description of presentation currency INR

Level of rounding used in financial statements Crores

Type of cash flow statement Indirect Method

Date from which register of members remained closed 31/07/2012

Date till which register of members remained closed 01/08/2012

Total number of product or service category 2

Disclosure of principal product or services [Table] ..(1)


Types of principal product or services [Axis]product or

services1

01/04/2011

to

31/03/2012

Disclosure of general information about company [Abstract]

Disclosure of principal product or services [Abstract]

Disclosure of principal product or services [LineItems]

Product or service category (ITC 4 digit) code 9997

Description of product or service category Service Income

Turnover of product or service category 98.98

Highest turnover contributing product or service (ITC 8 digit) code 99972200

Description of product or service Service Income

Turnover of highest contributing product or service 98.98


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KAYA LIMITED Standalone Statement of Profit & Loss for period 01/04/2011 to 31/03/2012

[100200] Statement of profit and loss


01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011

Statement of profit and loss [Abstract]

Disclosure of revenue from operations [Abstract]Disclosure of revenue from operations for other than finance company[Abstract]

Revenue from sale of products 30.65 23.73

Revenue from sale of services 98.98 81.39

Other operating revenues 0 0

Total revenue from operations other than finance company 129.63 105.12

Total revenue from operations 129.63 105.12

Other income 12.11 2.89

Total revenue 141.74 108.01

Expenses [Abstract]

Cost of materials consumed 7.7 5.49

Purchases of stock-in-trade 1.51 1.83

Changes in inventories of finished goods, work-in-progress and

stock-in-trade0.14 -0.73

Employee benefit expense 30.48 31.19

Finance costs 2.02 1.71

Depreciation, depletion and amortisation expense [Abstract]

Depreciation expense 9.45 16.25

Amortisation expense 0.12 0

Total depreciation, depletion and amortisation expense 9.57 16.25

Other expenses 92.83 85.79

Total expenses 144.25 141.53

Total profit before prior period items, exceptional items, extraordinaryitems and tax

-2.51 -33.52

Exceptional items before tax(A) -0.46 (B) -7.74

Total profit before extraordinary items and tax -2.97 -41.26

Extraordinary items before tax 0 (C) 0.4

Total profit before tax -2.97 -40.86

Tax expense [Abstract]

Current tax(D) -0.02

0

Total tax expense -0.02 0

Total profit (loss) for period from continuing operations -2.95 -40.86

Profit (loss) from discontinuing operations before tax 0 -0.4

Tax expense of discontinuing operations 0 0

Total profit (loss) from discontinuing operation after tax 0 -0.4

Total profit (loss) for period before minority interest -2.95 -41.26

Total profit (loss) for period(E) -2.95

-41.26

Earnings per equity share [Abstract]

Basic earning per equity share [INR/shares] -2.03 [INR/shares] -28.46 Diluted earnings per equity share [INR/shares] -2.03 [INR/shares] -28.46

Basic earning per equity share before extraordinary items [INR/shares] -2.03 [INR/shares] -28.46

Diluted earnings per equity share before extraordinary items [INR/shares] -2.03 [INR/shares] -28.46

Nominal value of per equity share [INR/shares] 10 [INR/shares] 10


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Footnotes

(A)

EXCEPTIONAL ITEMS

2012(Rs. in Crores)

Provision for impairment 0.46

Total 0.46

The Company has, as in the previous year, carried out impairment testing at the clinic level, which the management considers as therelevant cash generating unit. While the overall future potential of the business as a whole is promising, for some of the clinics likelyfuture performance is not adequate to justify and cover the value in use. This resulted in an net impairment provision of Rs. 4,566,161(Previous year Rs. 77,421,259). The Company has considered a pre tax discount rate of 19% (Previous year 17.68%) for determiningvalue in use.

(B)

EXCEPTIONAL ITEMS

2011(Rs. in Crores)


Total 7.74


(C) 0.40 is shown in Extra ordinary items before tax which is a loss from discontinuing operation

(D)

2012(Rs. in Crores)

Fringe benefit tax - prior year revenue -0.02

(E) The loss during the year is Rs 2.94 as per audited annual report but Rs 2.95 Cores is considered so as to remove the rounding offdifferences


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[300500] Notes - Subclassification and notes on income and expenses


01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011

Subclassification and notes on income and expense explanatory [TextBlock]

Disclosure of revenue from sale of products [Abstract]Revenue from sale of products [Abstract]

Revenue from sale of products, gross 30.65 23.73

Total revenue from sale of products 30.65 23.73

Disclosure of revenue from sale of services [Abstract]

Revenue from sale of services [Abstract]

Revenue from sale of services, gross 98.98 81.39

Total revenue from sale of services 98.98 81.39

Disclosure of other operating revenues [Abstract]

Other operating revenues [Abstract]

Total other operating revenues 0 0

Disclosure of other income [Abstract]

Interest income [Abstract]

Interest income on current investments [Abstract]

Interest on other current investments(A) 0.01

1.56

Total interest income on current investments 0.01 1.56

Total interest income 0.01 1.56

Dividend income [Abstract]

Dividend income long-term investments [Abstract]

Dividend income long-term investments from subsidiaries 11.96 0

Total dividend income long-term investments 11.96 0

Total dividend income 11.96 0

Other non-operating income [Abstract]

Net gain/loss on foreign currency fluctuations treated as otherincome

0.06 1.3

Surplus on disposal, discard, demolishment and destruction ofdepreciable tangible asset (B) 0.08

0

Excess provisions written back 0 0.03 Miscellaneous other non-operating income 0 0

Total other non-operating income 0.14 1.33

Total other income 12.11 2.89

Disclosure of finance cost [Abstract]

Interest expense [Abstract]

Interest expense other borrowings 0 0

Other interest charges(C) 2.02 (D) 1.71

Total interest expense 2.02 1.71

Total finance costs 2.02 1.71

Employee benefit expense [Abstract]

Salaries and wages 19.63 19.83

Contribution to provident and other funds [Abstract]

Contribution to provident and other funds for others 1.08 1.15 Total contribution to provident and other funds 1.08 1.15

Gratuity 0.09 0.32

Staff welfare expense 2.76(E) 2.69

Other employee related expenses(F) 6.92 (G) 7.2

Total employee benefit expense 30.48 31.19

Breakup of other expenses [Abstract]

Consumption of stores and spare parts 20.41 16.92

Power and fuel 3.27 3.08

Rent 22.11 20.86

Repairs to building 5.47 5.49

Repairs to machinery 0.27 0.59


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Insurance 0.21 0.16

Rates and taxes excluding taxes on income [Abstract]

Other cess taxes 0.69 0.7

Total rates and taxes excluding taxes on income 0.69 0.7

Printing stationery 3.46 2.86

Travelling conveyance 2.55 2.02

Legal professional charges 3.49 1.79

Directors sitting fees 0 0

Managerial remuneration [Abstract]

Remuneration to directors [Abstract]

Salary to directors 0 0 Commission to directors 0 0

Other benefits to directors 0 0

Total remuneration to directors 0 0

Remuneration to managers [Abstract]

Salary to managers 0 0

Commission to managers 0 0

Other benefits to managers 0 0

Total remuneration to managers 0 0

Total managerial remuneration 0 0

Advertising promotional expenses 11.12 13.21

Commission paid sole selling agents 0.02 0

Cost repairs maintenance other assets 1.5 1.73

Cost information technology [Abstract]

Cost software 0 0

Cost hardware 0 0

Cost communication connectivity 0 0

Total cost information technology 0 0

Cost insurance 0 0

Cost transportation [Abstract]

Cost freight 0.23 0.18

Total cost transportation 0.23 0.18

Provision bad doubtful debts created 0 0

Provision bad doubtful loans advances created 0 0

Net provisions charged [Abstract]

Other provisions created 0 0

Total net provisions charged 0 0

Write-off assets liabilities [Abstract]

Miscellaneous expenditure written off [Abstract]

Financing charges written off 0 0

Voluntary retirement compensation written off 0 0

Technical know-how written off 0 0

Other miscellaneous expenditure written off 0 0

Total miscellaneous expenditure written off 0 0

Bad debts written off 0.42 0.03

Bad debts advances written off 0 0

Liabilities written off 0(H) -2.34

Total write-off assets liabilities 0.42 -2.31

Loss on disposal of intangible asset 0 0

Loss on disposal, discard, demolishment and destruction of depreciabletangible asset

0 2.47

Contract cost [Abstract]

Material cost contract(I) 1.09 (J) 0.87

Total contract cost 1.09 0.87

Payments to auditor [Abstract]

Payment for audit services 0.14 0.09

Payment for taxation matters 0.02(K) 0.01

Payment for reimbursement of expenses 0.01 0.01

Total payments to auditor 0.17 0.11

Miscellaneous expenses(L) 16.35 (M) 15.06

Total other expenses 92.83 85.79

Current tax [Abstract]


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Current tax pertaining to current year -0.02 0

Total current tax(N) -0.02

0


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Footnotes

(A) interest on other current investments is Rs. 0.01 crores but Rs. 0.02 crores is considered to remove rounding off differences in theyear 2012

(B) surplus on sale of assets is Rs. 0.07crores but Rs. 0.08 crores is considered to remove rounding off differences in the year 2012

(C)

Other Interest Charges 2012(Rs.Crores)

Bank charges and commission 2.02

(D)

Other Interest Charges 2011(Rs.Crores)

Bank charges and commission 1.71

(E) staff welfare expenses is Rs.2.68cores as given in note 25 of Employee benefit expenses but to remove rounding off differences it isshown as Rs.2.69 cores for the year 2011

(F)

Other Employee Related Expenses 2012(Rs.in Crores)

Seconded employees cost 6.92

(G)

Other Employee Related Expenses 2011(Rs.in Crores)

Seconded employees cost 7.20

(H)

2011(Rs. in Crores)

Provision for impairment of fixed assets written back (2.34)

(I)

2012(Rs. in Crores)

Contract manufacturing expenses 1.09

(J)

2011(Rs. in Crores)

Contract manufacturing expenses 0.87

(K) Tax audit fees is Rs.0.02 cores as given in note 27 of otherexpenses but to remove rounding off differences it is shown as


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Rs.0.01cores for the year 2011

(L)

2012(Rs. in Crores)

Payments to consultants 13.88

Miscellaneous expenses 2.47

Total 16.35

(M)

2011(Rs. in Crores)

Payments to consultants 14.31

Miscellaneous expenses 0.76

Total 15.06

(N)

2012(Rs. in Crores)

Fringe benefit tax - prior year revenue -0.02

[300600] Notes - Additional information statement of profit and loss

Details of raw materials, spare parts and components consumed [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INRDetails of raw materials, spare parts and components consumed [Axis] Raw materials spare parts and components consumed [Member]

Subclassification of raw materials, spare parts and components

consumed [Axis]Imported and indigenous [Member] Imported [Member]

01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011

01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011

Additional information on profit and loss account[Abstract]

Details of raw materials, spare parts and componentsconsumed [Abstract]

Details of raw materials, spare parts andcomponents consumed [LineItems]

Value consumed 25.04 19.49 6.26 2.85

Percentage of consumption 100.00% 100.00% 25.00% 14.62%


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Details of raw materials, spare parts and components consumed [Axis]Raw materials spare parts and

components consumed [Member]Raw materials consumed [Member]


consumed [Axis]Indigenous [Member] Imported and indigenous [Member]

01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011

01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011




Value consumed 18.79 16.64 4.63 2.58



Unless otherwise specified, all monetary values are in Crores of INRDetails of raw materials, spare parts and components consumed [Axis] Raw materials consumed [Member]


consumed [Axis]Imported [Member] Indigenous [Member]

01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011

01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011




Value consumed 2.09 0.48 2.54 2.1



Unless otherwise specified, all monetary values are in Crores of INRDetails of raw materials, spare parts and components consumed [Axis] Spare parts consumed [Member]

Subclassification of raw materials, spare parts and componentsconsumed [Axis]

Imported and indigenous [Member] Imported [Member]

01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011

01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011




Value consumed 20.41 16.92 4.17 2.37



Unless otherwise specified, all monetary values are in Crores of INRDetails of raw materials, spare parts and components consumed [Axis] Spare parts consumed [Member]

Subclassification of raw materials, spare parts and components consumed [Axis] Indigenous [Member]

01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011

Additional information on profit and loss account [Abstract]

Details of raw materials, spare parts and components consumed [Abstract]

Details of raw materials, spare parts and components consumed [LineItems]

Value consumed 16.25 14.54

Percentage of consumption 80.00% 86.00%


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Details of raw materials consumed [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INRCategories of raw materials consumed [Axis] Raw materials consumed [Member] Raw materials consumed 1 [Member]

01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011

01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011


Additional details in case of manufacturing companies

[Abstract]Details of raw materials consumed [Abstract]

Details of raw materials consumed [LineItems]

Description of raw materials categoryR a wMaterials,Packingmaterials

R a wMaterials,Packingmaterials

Raw materials Raw materials

Total raw materials consumed 7.7 5.49 4.63 2.58

Details of raw materials consumed [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INRCategories of raw materials consumed [Axis] Raw materials consumed 2 [Member]

01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011

Additional information on profit and loss account [Abstract]

Additional details in case of manufacturing companies [Abstract]

Details of raw materials consumed [Abstract]

Details of raw materials consumed [LineItems]

Description of raw materials category Packing materials Packing materials

Total raw materials consumed 3.06 2.92

Details of goods purchased [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INRCategories of goods purchased [Axis] Goods purchased [Member] Goods purchased 1 [Member]

01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011

01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011

Additional information on profit and loss account

[Abstract]Additional details in case of manufacturing companies[Abstract]

Details of goods purchased [Abstract]

Details of goods purchased [LineItems]

Description of goods purchased Skin care products Skin care products Skin care products Skin care products

Total goods purchased 1.51 1.83 1.51 1.83


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01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011

Additional information on profit and loss account explanatory [TextBlock]

Changes in inventories of finished goods -0.01 -0.54

Changes in inventories of work-in-progress -0.3 0.13

Changes in inventories of stock-in-trade 0.45 -0.32

Total changes in inventories of finished goods, work-in-progress andstock-in-trade

0.14 -0.73

Exceptional items before tax (A) -0.46 (B) -7.74

Total exceptional items -0.46 -7.74

Other items extraordinary 0 0.4

Total extraordinary items before tax 0(C) 0.4

Total extraordinary items 0 0.4

Total exceptional and extraordinary items -0.46 -7.34

Revenue other services 98.98 81.39

Total gross income from services rendered 98.98 81.39

Value of imports of raw materials(D) 7.92 (E) 4.22

Value of imports of components and spare parts 3.33 3.02

Value of imports of capital goods(F) 3.69 (G) 4.24

Total value of imports calculated on CIF basis 14.94 11.48

Expenditure on professional and consultation fees 0 1.18

Expenditure on other matters(H) 0.1 (I) 0.09

Total expenditure in foreign currency 0.1 1.27

Final dividend remitted in foreign currency 0 0

Interim dividend remitted in foreign currency 0 0

Special dividend remitted in foreign currency 0 0

Total amount of dividend remitted in foreign currency 0 0

FOB value of manufactured goods exported 0.76 0.85

Total earnings on export of goods calculated on FOB basis 0.76 0.85

Earnings on interest 0 1.55

Earnings on dividend 11.96 0

Total earnings on interest and dividend 11.96 1.55

Earnings on other income (J) 0.29 (K) 0.91 Total earnings in foreign currency 13.01 3.31

Domestic sale manufactured goods 29.89 22.89

Domestic sale traded goods 0 0

Total domestic turnover goods, gross 29.89 22.89

Export sale manufactured goods 0.76 0.84

Export sale traded goods 0 0

Total export turnover goods, gross 0.76 0.84

Total revenue from sale of products 30.65 23.73

Domestic revenue services 98.87 80.85

Export revenue services 0.11 0.54

Total revenue from sale of services 98.98 81.39


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Footnotes

(A)

EXCEPTIONAL ITEMS

2012(Rs. in Crores)


Total 0.46


(B)

EXCEPTIONAL ITEMS

2011(Rs. in Crores)


Total 7.74


(C) 0.40 is shown in Extra ordinary items before tax which is a loss from discontinuing operation

(D)

Value of Imports of raw materials 2012(Rs. in Crores)

Raw materials 4.60

Packing materials 2.05

Finished goods 1.27

Total 7.92


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(E)

Value of Imports of raw materials 2011(Rs. in Crores)

Raw materials 0.60

Packing materials 2.21

Finished goods 1.41

Total 4.22

(F)

Value of Imports of Capital Goods 2012(Rs. in Crores)

Capital goods 3.69

(G)

Value of Imports of Capital Goods 2011(Rs. in Crores)

Capital goods 4.24

(H)

Expenditure in foreign currency 2012 (Rs. in crores)

Travelling 0.10

(I)

Expenditure in foreign currency 2011 (Rs. in crores)

Travelling 0.09

(J)

Earnings on other Income 2012(Rs. in Crores)

Services rendered 0.12

Others 0.17

Total 0.29


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(K)

Earnings on other Income 2011(Rs. in Crores)

Services rendered 0.54

Others 0.37

Total 0.91

[200800] Notes - Disclosure of accounting policies, changes in accounting policies and estimates


01/04/2011

to

31/03/2012

Disclosure of accounting policies, change in accounting policies andchanges in estimates explanatory [TextBlock]

Textual information (1)[See below]

Disclosure of accounting policies explanatory [TextBlock]Textual information (2)[See below]


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Textual information (1)

Disclosure of accounting policies, change in accounting policies and changes in estimates explanatory [Text Block]

1. GENERAL INFORMATION

Kaya Limited (?Kaya? or the ?Company?), headquartered in Mumbai, India a wholly owned subsidiary of Marico Limited, carries on skin carebusiness through Kaya Skin Clinics. The clinics offer skin care solutions using scientific dermatological procedures and products.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a. Basis of preparation of financial statements

The financial statements are prepared in accordance with Indian Generally Accepted Accounting Principles (?GAAP?) under the historical costconvention on an accrual basis and are in conformity with mandatory accounting standards, as specified in the Companies (Accounting Standards)Rules, 2006 and the other relevant provisions of the Companies Act, 1956.

All assets and liabilities have been classified as current or non-current as per the Company?s normal operating cycle and other criteria set out inthe Schedule VI to the Companies Act, 1956.

b. Use of Estimates

The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect thereported balances of assets and liabilities and disclosures relating to contingent assets and liabilities as at the date of the financial statements andreported amounts of income and expenses during the year. Examples of such estimates include provision for doubtful debts, future obligationsunder employee retirement benefit plans, income taxes, the useful lives and provision for impairment of fixed assets and intangible assets.

Management believes that the estimates used in the preparation of financial statements are prudent and reasonable. Future results could differfrom these estimates.

c. Tangible assets, intangible assets and capital work-in-progress

Tangible assets and intangible assets are stated at cost of acquisition, less accumulated depreciation/amortisation and impairments, if any. Costincludes taxes, duties, freight and other incidental expenses related to acquisition and installation. Pre-operative expenses incidental and related tosetting up of new clinics have been included under capital work-in-progress. Such expenditure are capitalised to fixed asset upon start ofoperations of the clinic.

Capital work-in-progress comprises cost of fixed assets that are not yet ready for their intended use at the year end.

d. Depreciation / amortisation

1) Tangible assets

(i) Depreciation is provided on Straight line basis at higher of the rates based on useful lives of the assets as estimated by the management orthose stipulated in Schedule XIV to the Companies Act, 1956. The depreciation rates considered for the following items are higher than the ratesstipulated in Schedule XIV to the Companies Act, 1956:?

Assets Rates (p.a.)


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Computer hardware, related peripherals etc. 33.33% 3 years

Technologically advanced machineries 14.29% to 50%

Other plant and equipment 11.11% to 50%

Furniture and fixtures (Including lease hold improvements) 11.11%

(ii) The useful life of leasehold improvements are estimated taking into consideration lease period including the renewal option. Leaseholdimprovements includes provision for site restoration costs which are recognised based on the estimates made by management for probableliability towards restoration of these premises at the end of lease period.?

(iii) Assets individually costing Rs. 5,000 or less are depreciated fully in the year of acquisition.

(iv) Depreciation on additions during the year is charged from the month in which the assets are capitalized and for deletions up to the monthprior to the month in which the asset is disposed off.

2) Intangible assets

Intangible assets are amortised over their respective individual estimated useful lives on a straight line basis, but not exceedingthe period given here under:

Assets Rates (p.a.)

Computer s oftwares 33.33%

Trademarks / copyrights 10.00%

e. Impairment

Assessment is done at each Balance Sheet date as to whether there is any indication that an asset (tangible and intangible) may be impaired. Forthe purpose of assessing impairment, the smallest identifiable group of assets that generates cash inflows from continuing use that are largelyindependent of the cash inflows from other assets or groups of assets, is considered as a cash generating unit. If any such indication exists, anestimate of the recoverable amount of the asset/cash generating unit is made. Assets whose carrying value exceeds their recoverable amount arewritten down to the recoverable amount. Recoverable amount is higher of an asset?s or cash generating unit?s net selling price and its value inuse. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset and from its disposal atthe end of its useful life. Assessment is also done at each Balance Sheet date as to whether there is any indication that an impairment lossrecognised for an asset in prior accounting periods may no longer exist or may have decreased.

f. Investments


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Long-term investments are valued at cost. Provision for diminution, if any, in the value of investments is made to recognize a decline, other thantemporary. Current investments are valued at lower of cost and fair value, computed individually for each investment. In case of investments inmutual funds which are unquoted, net asset value is taken as fair value.

g. Inventories

1) Raw materials, packing materials, stores, spares and consumables are valued at lower of cost and net

realizable value. However, these items are considered to be realizable at cost if the finished products in which they will be used are expected to besold at or above cost.

2) Finished goods, stock-in-trade and work-in-progress are valued at lower of cost and net realizable value.

3) Cost is ascertained on weighted average method and in case of finished products and work-in-progress, it includes appropriate productionoverheads and duties.

h. Research and development

Capital expenditure on research and development is capitalized and depreciated. Revenue expenditure is charged off in the year in which it isincurred.

i. Revenue recognition

1) Income from services is recognized on rendering of services and are recorded net of discounts and service tax.?

2)Income from package sale is recognized based on the utilisation of sessions by the customers.

3)Sale of products is recognized on delivery, which is when risks and rewards of ownership passed to the customers, and are recorded net of tradediscounts, service tax, sales tax and value added tax.

j. Retirement benefits

1) Long-term employee benefits

(i) Defined contribution plans

?The Company has defined contribution plan for post employment benefits in the form of provident fund. The Company?s contributions todefined contribution plans are charged to the Statement of Profit and Loss as incurred.?

(ii) Defined benefit plans

?The Company has defined benefit plans for post employment benefits in the form of gratuity and leave encashment. Liability for defined benefitplans is provided on the basis of valuations, as at the Balance Sheet date, carried out by an independent actuary. The actuarial valuation methodused for measuring the liability is the projected unit credit method.?

2) Actuarial gains and losses due to changes in actuarial assumptions are recognised immediately in the Statement of Profit and Loss as income orexpense.?

k. Foreign currency transactions


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1.Transactions in foreign currencies are recognised at the prevailing exchange rates on the transaction dates. Realised gains and losses onsettlement of foreign currency transactions are recognised in the Statement of Profit and Loss.?

2.Foreign currency monetary assets and liabilities at the year end are translated at the year end exchange rates, and the resultant exchangedifference is recognised in the Statement of Profit and Loss.?

l. Accounting for taxes on income

(i) Provision for current tax is made, based on the tax payable under the Income Tax Act, 1961.

(ii) Deferred tax on timing differences between taxable income and accounting income is accounted for, using the tax rates and the tax lawsenacted or substantively enacted as on the Balance Sheet date. Deferred tax assets on unabsorbed tax losses and unabsorbed tax depreciation arerecognized only when there is a virtual certainty of realization and other items are recognized when there is a reasonable certainty of realization.?

m. Assets taken on lease:

?(i) The assets taken on finance lease are capitalized at the inception of the lease at the lower of the fair value of the leased asset and present valueof the minimum lease payments. The corresponding amount is shown as lease liabilities. The principal component in the lease rental is adjustedagainst the lease liability and the interest component is charged to the Statement of Profit and Loss.?

?(ii) Operating lease payments are recognized as expenditure in the Statement of Profit and Loss account as per the terms of the leasearrangements. Initial direct cost incurred by the company for operating lease arrangements are amortised over a non cancellable period of leaseagreement.?

n. Accounting for provision, contingent liabilities and contingent assets:

Provisions are recognised in terms of Accounting Standard 29 ? ?Provisions, Contingent Liabilities and Contingent Assets? (AS-29), notified bythe Companies (Accounting Standards) Rules, 2006, when there is a present legal or statutory obligation as a result of past events, where it isprobable that there will be outflow of resources to settle the obligation and when a reliable estimate of the amount of the obligation can be made.Contingent Liabilities are disclosed only when there is a possible obligation arising from past events due to occurrence or non-occurrence of oneor more uncertain future events, not wholly within the control of the Company, or where any present obligation cannot be measured in terms offuture outflow of resources or where a reliable estimate of the obligation cannot be made. Obligations are assessed on an ongoing basis and only

those having a largely probable outflow of resources are provided for. Contingent Assets are not recognised in the financial statements.

o. Cash and Cash Equivalents

In the cash flow statement, cash and cash equivalents includes cash in hand, demand deposits with banks, other short-term highly liquidinvestments with original maturities of three months or less.

p. Earnings Per Share

?Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted averagenumber of equity shares outstanding during the year. Earnings considered in ascertaining the Company?s earnings per share is the net profit forthe year after deducting preference dividends and any attributable tax thereto for the period. The weighted average number of equity sharesoutstanding during the period and for all periods presented is adjusted for events, such as bonus shares, other than the conversion of potentialequity shares, that have changed the number of equity shares outstanding, without a corresponding change in resources. For the purpose ofcalculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number ofshares outstanding during the period is adjusted for the effects of all dilutive potential equity shares.?


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19



Disclosure of accounting policies explanatory [Text Block]

34. GOING CONCERN:

The Company had been incurring losses since inception and is currently having negative net worth. The management believes that these losses arenot reflective of future trends and operations of the Company. The management believes that the Kaya business model continues to be robust andoffers significant long term growth opportunities. Further, the operations of Kaya are expected to improve significantly due to positive changes inthe economic environment, maturity of new clinics, renewed focus on reducing the time to scale up revenues in new clinics, improve capacityutilizations of clinics, expansion of Kaya?s range of services and product offerings, rationalization of costs and other restructuring measures underconsideration, including leveraging the synergies from the acquisition of Derma Rx business in Singapore (by its wholly owned subsidiary) andby increasing the share of product sales in the total business. Having regard to the above factors, based on the fundamentals of Kaya, improvedperformance in the current year, its future business plans and continuing support from the holding company for meeting its funding requirements,these financial statements of the Company have been prepared by the management on going concern basis.

[300100] Notes - Revenue

Unless otherwise specified, all monetary values are in Crores of INR01/04/2011

to

31/03/2012

Disclosure of revenue explanatory [TextBlock]Textual informat ion (3)[See below]


Disclosure of revenue explanatory [Text Block]

REVENUE 2012(Rs. cores) 2011(Rs. crores)

Revenue from operations:

Sale of products 30.65 23.73

Sale of services 98.98 81.39

129.63 105.12

Other operating revenues 0.00 0.00

Total 129.63 105.12


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20


[201200] Notes - Employee benefits

Disclosure of defined benefit plans [Table] ..(1)


Defined benefit plans [Axis] Defined benefit plans [Member]

Domestic defined

benefit plans

[Member]

01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011

31/03/2010

01/04/2011

to

31/03/2012

Disclosure of defined benefit plans [Abstract]

Disclosure of defined benefit plans [LineItems]

Description of accounting policy for definedbenefit plans

N.A. N.A.Textual information(4) [See below]

Description of type of plan N.A. N.A.Gratuity,LeaveEncashment

Reconciliation of changes in present value ofdefined benefit obligation [Abstract]

Changes in defined benefit obligation, atpresent value [Abstract]

Increase (decrease) through currentservice cost, defined benefit

obligation, at present value

0.12 0.15 0.12

Increase (decrease) through interestcost, defined benefit obligation, atpresent value

0.05 0.03 0.05

Amalgamations, defined benefit obligation,at present value

0 0 0

Increase (decrease) through actuarial losses(gains), defined benefit obligation, atpresent value

0.16 -0.27 0.16

Contributions by plan participants,defined benefit obligation, at presentvalue

0 0 0

Decrease through benefits paid, definedbenefit obligation, at present value

0.06 0.04 0.06

Increase (decrease) through past

service cost, defined benefitobligation, at present value

0 0 0

Increase (decrease) throughcurtailments, defined benefitobligation, at present value

0 0 0

Increase (decrease) throughsettlements, defined benefitobligation, at present value

0 0 0

Increase (decrease) through net exchangedifferences, defined benefit obligation, atpresent value

0 0 0

Total changes in defined benefitobligation, at present value

-0.05 0.41 -0.05

Defined benefit obligation, at present valueat end of period

1.15 1.2 0.79 1.15

Defined benefit obligation arising from whollyunfunded plans 1.15 1.2 1.15

Reconciliation of changes in fair value ofplan assets [Abstract]

Changes in plan assets, at fair value[Abstract]

Increase (decrease) throughactuarial gains (losses), planassets, at fair value

0 0 0

Amalgamations, plan assets, at fair value 0 0 0

Increase (decrease) through expectedreturn, plan assets, at fair value

0 0 0

Decrease through benefits paid, planassets, at fair value

0 0 0


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21


Increase (decrease) throughcontributions by planparticipants, plan assets, at fairvalue

0 0 0

Increase (decrease) throughcontributions by employer, planassets, at fair value

0 0 0

Increase (decrease) through netexchange differences, plan assets,at fair value

0 0 0

Increase (decrease) through

settlements, plan assets, at fair value

0 0 0

Total changes in plan assets, at fairvalue

0 0 0

Plan assets, at fair value at end of period 0 0 0 0

Reimbursement rights, at fair value at endof period

0 0 0

Recognised assets and liabilities ofdefined benefit plans [Abstract]

Recognised liabilities, defined benefitplan

1.15 1.2 1.15

Recognised assets, defined benefit plan 0 0 0

Net liability (asset) of defined benefitplans

1.15 1.2 1.15

Reconciliation of liability asset ofdefined benefit plans [Abstract]

Defined benefit obligation, at presentvalue

1.15 1.2 0.79 1.15

Plan assets, at fair value 0 0 0 0

Reimbursement rights, at fair value 0 0 0

Unrecognised past service cost(negative past service cost)

0 0 0

Unrecognised assets of defined benefitplans

0 0 0

Other amounts recognised for definedbenefit plans

0 0 0

Net liability (asset) of defined benefitplans

1.15 1.2 1.15

Recognised expense of defined benefit plans[Abstract]

Current service cost, defined benefit plan 0.12 0.15 0.12

Interest cost, defined benefit plan 0.05 0.03 0.05 Expected return on plan assets, defined

benefit plan0 0 0

Expected return on recognised assetsfor reimbursement right, definedbenefit plan

0 0 0

Actuarial gains (losses) recognisedin profit or loss, defined benefitplan

0.08 -0.14 0.08

Past service cost recognised inprofit or loss, defined benefit plan

0 0 0

Effect of curtailment andsettlement recognised in profitor loss, defined benefit plan

0 0 0

Total post-employment benefit expense,

defined benefit plans

0.09 0.32 0.09

Actuarial assumption [Abstract]

Actuarial assumption of discount rates 8.00% 7.50% 8.00%

Actuarial assumption of expected ratesof salary increases

12.00% 12.00% 12.00%

Other material actuarial assumptions 45.00% 40.00% 45.00%

Experience adjustments on plan assets andplan liabilities [Abstract]

Defined benefit obligation, at presentvalue

1.15 1.2 0.79 1.15

Plan assets, at fair value 0 0 0 0

Net surplus (deficit) in plan -1.15 -1.2 -1.15


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22


Disclosure of defined benefit plans [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INRDefined benefit plans [Axis] Domestic defined benefit plans [Member]

01/04/2010

to

31/03/2011

31/03/2010

Disclosure of defined benefit plans [Abstract]

Disclosure of defined benefit plans [LineItems]

Description of accounting policy for defined benefit plansTextual information (5) [See

below] Description of type of plan Gratuity,Leave Encashment

Reconciliation of changes in present value of defined benefit obligation [Abstract]

Changes in defined benefit obligation, at present value [Abstract]

Increase (decrease) through current service cost, defined benefitobligation, at present value

0.15

Increase (decrease) through interest cost, defined benefit obligation, atpresent value

0.03

Amalgamations, defined benefit obligation, at present value 0

Increase (decrease) through actuarial losses (gains), defined benefitobligation, at present value

-0.27

Contributions by plan participants, defined benefit obligation, at presentvalue

0

Decrease through benefits paid, defined benefit obligation, at present value 0.04

Increase (decrease) through past service cost, defined benefit obligation,

at present value 0

Increase (decrease) through curtailments, defined benefit obligation, atpresent value

0

Increase (decrease) through settlements, defined benefit obligation, atpresent value

0

Increase (decrease) through net exchange differences, defined benefitobligation, at present value

0

Total changes in defined benefit obligation, at present value 0.41

Defined benefit obligation, at present value at end of period 1.2 0.79

Defined benefit obligation arising from wholly unfunded plans 1.2

Reconciliation of changes in fair value of plan assets [Abstract]

Changes in plan assets, at fair value [Abstract]

Increase (decrease) through actuarial gains (losses), plan assets, at fairvalue

0

Amalgamations, plan assets, at fair value 0 Increase (decrease) through expected return, plan assets, at fair value 0

Decrease through benefits paid, plan assets, at fair value 0

Increase (decrease) through contributions by plan participants, planassets, at fair value

0

Increase (decrease) through contributions by employer, plan assets, at fairvalue

0

Increase (decrease) through net exchange differences, plan assets, at fairvalue

0

Increase (decrease) through settlements, plan assets, at fair value 0

Total changes in plan assets, at fair value 0

Plan assets, at fair value at end of period 0 0

Reimbursement rights, at fair value at end of period 0

Recognised assets and liabilities of defined benefit plans [Abstract]

Recognised liabilities, defined benefit plan 1.2

Recognised assets, defined benefit plan 0

Net liability (asset) of defined benefit plans 1.2

Reconciliation of liability asset of defined benefit plans [Abstract]

Defined benefit obligation, at present value 1.2 0.79

Plan assets, at fair value 0 0

Reimbursement rights, at fair value 0

Unrecognised past service cost (negative past service cost) 0

Unrecognised assets of defined benefit plans 0

Other amounts recognised for defined benefit plans 0

Net liability (asset) of defined benefit plans 1.2

Recognised expense of defined benefit plans [Abstract]

Current service cost, defined benefit plan 0.15

Interest cost, defined benefit plan 0.03


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23


Expected return on plan assets, defined benefit plan 0

Expected return on recognised assets for reimbursement right, definedbenefit plan

0

Actuarial gains (losses) recognised in profit or loss, defined benefit plan -0.14

Past service cost recognised in profit or loss, defined benefit plan 0

Effect of curtailment and settlement recognised in profit or loss, definedbenefit plan

0

Total post-employment benefit expense, defined benefit plans 0.32

Actuarial assumption [Abstract]

Actuarial assumption of discount rates 7.50%

Actuarial assumption of expected rates of salary increases 12.00% Other material actuarial assumptions 40.00%

Experience adjustments on plan assets and plan liabilities [Abstract]

Defined benefit obligation, at present value 1.2 0.79

Plan assets, at fair value 0 0

Net surplus (deficit) in plan -1.2


01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011

Disclosure of employee benefits explanatory [TextBlock]Textual information (6)[See below]

Amount recognised as expense for defined contribution plans 1.08 1.15


Description of accounting policy for defined benefit plans?The Company has defined benefit plans for post employment benefits in the form of gratuity and leave encashment. Liability for defined benefitplans is provided on the basis of valuations, as at the Balance Sheet date, carried out by an independent actuary. The actuarial valuation methodused for measuring the liability is the projected unit credit method.?


Description of accounting policy for defined benefit plans

?The Company has defined benefit plans for post employment benefits in the form of gratuity and leave encashment. Liability for defined benefitplans is provided on the basis of valuations, as at the Balance Sheet date, carried out by an independent actuary. The actuarial valuation methodused for measuring the liability is the projected unit credit method.?


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24



Disclosure of employee benefits explanatory [Text Block]

DISCLOSURE PURSUANT TO ACCOUNTING STANDARD 15 (REVISED) ? EMPLOYEE BENEFITS

The disclosures as required as per the revised AS 15 are as under:

a) Brief descriptions of the plans:

The Company has various schemes for long-term benefits such as provident fund, leave encashment and gratuity. The Company?s definedcontribution plans is provident fund since the Company has no further obligation beyond making the contributions. The Company?s definedbenefit plans include gratuity. The employees of the Company are also entitled to leave encashment as per the Company?s policy. The definedbenefit plans are not funded.

b) Defined contribution plan (Provident fund):

The Company has recognised following amount as expenses and included in Employees? remuneration (Refer note 25)

For the year ended

March 31, 2012

(Rs. Cr.)

For the year ended

March 31, 2011

(Rs. Cr.)

Contribution to provident fund 0.80 0.83

Contribution to employee state insurance contribution 0.28 0.32

1.08 1.15

c) Defined benefit plans (Gratuity unfunded):

As at March 31, 2012 (Rs. Cr.) As at March 31, 2011 (Rs. Cr.)

I. Actuarial assumptions:

Discount rate 8.00% 7.50%

Rate of return on plan assets -- --

Future salary rise 12.00% 12.00%


25/28


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26


V. Balance Sheet reconciliation:

Opening net liability 0.58 0.29

Expenses as above 0.09 0.32

Benefits paid (0.06) (0.04)

Closing net liability 0.61 0.58

March 31, 2012(Rs. Cr).

March 31, 2011(Rs. Cr.)

March 31, 2010(Rs. Cr.)

March 31, 2009(Rs. Cr.)

VI. Experience adjustments: On plan liability

(gain) / loss (0.07) 0.15 0.03 (0.00)

For the year ended

March 31, 2012

(Rs. Cr.)

For the year ended

March 31, 2011

(Rs. Cr.)

Closing net liability (as above)

Classified as short-term 0.19 0.06

Classified as long-term 0.42 0.52

The estimates of future salary increases considered in actuarial valuation, takes account of inflation, seniority, promotion, and other relevantfactors such as supply and demand factors in the employment market.

d) Leave Encashment:

The Company permits encashment of privileged leave (except sick leave) accumulated by its employees on retirement, separation and during thecourse of service. The liability for unexpired leave is determined and provided on the basis of actuarial valuation at the Balance Sheet date. Theprivileged leave liability is not funded.

Amount recognized in the Balance Sheet and movements in net liability:

Particulars March 31, 2012 March 31, 2011


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Opening Balance of Compensated Absences (a) 0.62 0.49

Present value of Compensated Absences(As per actuary valuation) as at the year end (b) 0.54 0.62

Unfunded liability of Compensated Absences recognized in the Statement of Profit and Loss

For the year (b ? a) (0.08) 0.13

[300300] Notes - Earnings per share


01/04/2011

to

31/03/2012

01/04/2010

to

31/03/2011

Disclosure of earnings per share explanatory [TextBlock]

Adjustments of numerator to calculate basic earnings per share [Abstract]Profit (loss) for period

(A) -2.95-41.26

Adjustments of numerator to calculate diluted earnings per share [Abstract]

Profit (loss) for period(A) -2.95

-41.26

Footnotes

(A) The loss during the year is Rs 2.94 as per audited annual report but Rs 2.95 Cores is considered so as to remove the rounding offdifferences


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[300700] Notes - Director remuneration and other information

Disclosure of directors and remuneration to directors [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INRDirectors [Axis] Directors1 Directors2 Directors3 Directors4

01/04/2011

to31/03/2012

01/04/2011

to31/03/2012

01/04/2011

to31/03/2012

01/04/2011

to31/03/2012

Disclosure of directors and remuneration to directors[Abstract]

Disclosure of directors and remuneration to directors[LineItems]

Name of directorH A R S HCHARANDASMARIWALA

RAVINDRAK I SH O R EMARIWALA

RAJENDRAK I SH O R EMARIWALA

RISHABH HARSHMARIWALA

Director identification number of director 00210342 00032825 00007246 03072284

Date of birth of director 14/05/1951 01/06/1966 04/09/1962 08/02/1982

Designation of director Managing Director Director Additional Director Additional Director

Qualification of director B. ComPh D. In ChemicalEngineering

B.Tech.-Chemical,Anna UniversityC he nna i / M.Tech.-Chemical

B.Tech.-Chemical,Anna UniversityC he nna i / M.Tech.-Chemical

Shares held by director [shares] 1 [shares] 0 [shares] 0 [shares] 0

Director remuneration [Abstract]

Salary to director [Abstract]

Basic pay director 0 0 0 0

Allowances director 0 0 0 0

Perquisites director 0 0 0 0

Commission director 0 0 0 0

Total salary to director 0 0 0 0

Sitting fees director 0 0 0 0

Stock compensation director 0 0 0 0

Post-retirement benefits director 0 0 0 0

Other compensation director 0 0 0 0

Total director remuneration 0 0 0 0

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