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annual
report
20
16-17
kajaria
ceramics
corporate
overview
management
reports
Financial
statements
44. Balance confirmation
Balances of certain debtors, creditors, loans and advances are subject to confirmation.
46 Corporate Social Responsibility
As per Section 135 of the Companies Act, 2013, Schedule VII and Companies (Corporate Social Responsibility Policy) Rules,
2014, the Company was required to spend
`
5.19 crores (March 31, 2016:
`
3.82 crores) for Corporate Social Responsibility
activities. The company has incurred CSR expenditure of
`
3.37 crores during the current financial year (March 31, 2016:
`
3.59
crores) on the projects/activities for the benefit of the public in general and in the neighborhood of the manufacturing facilities
of the company.
43. Derivative instruments and unhedged foreign currency exposure
The Company has no outstanding derivative instrument at the year end. The amount of foreign currency exposure that are
not hedged by derivative instruments or otherwise are as under -
(
`
in crores)
31 March 2017 31 March 2017
31 March 2016 31 March 2016 1 April 2015 1 April 2015
Foreign
Currency
Amount
(
`
Crores)
Foreign
Currency
Amount
(
`
Crores)
Foreign
Currency
Amount
(
`
Crores)
Foreign trade payable
USD in crores
0.03
2.08
0.21
14.07
0.83
52.71
EURO in crores
0.31
21.63
0.27
20.14
0.08
5.23
Foreign advances
USD in crores
0.01
0.71
0.01
0.66
0.01
0.64
EURO in crores
0.04
2.39
0.04
2.31
0.02
1.60
Foreign trade receivable
USD in crores
0.05
3.49
0.11
6.97
0.05
3.08
EURO in crores
-
-
-
-
0.00
0.21
45 Research and development expenditure
Research and Development expenditure incurred from 2013-14 to 2016-17:
(
`
in crores)
Particulars
2013-14
2014-15
2015-16
2016-17
Capital expenditure
0.24
0.19
0.53
0.09
Revenue expenditure
4.66
6.28
8.13
10.90
47.
During the year, the Board of Directors of Kajaria Ceramics Limited (the Company) has approved Scheme of Arrangement,
which provides for, inter-alia, the amalgamation of a promoter company i.e. Kajaria Securities Private Limited with the
Company with appointed date as closing hours of business on March 31, 2017 (“Scheme”). The Company has filed the
Scheme for approval under sections 230-232 and 66 read with other applicable provisions of the Companies Act, 2013
and the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 before the Chandigarh Bench of the
National Company Law Tribunal (“NCLT”) vide application dated March 16, 2017. Pending approval of the Scheme by NCLT,
the management has not given effect to provisions of the proposed Scheme.
Notes on the standalone financial statements
for the year ended 31 March 2017