A financial services firm which operates across asset markets and products. .

ANNUAL

A
C
C
O
U
N
T
S
  Annual accounts for the FY 2008-09



Profit and Loss Account for the year ended 31st March, 2009

(Rupees in lakhs)
  SCH 2008-09 2007-08
INCOME      
Sale of securities 9 457,362.54 814,761.34
Increase/(Decrease) in Stock-in-trade 10 26,792.49 (167,324.02)
Interest Income 11 1,729.14 4,354.70
Income from derivatives trading 12 (107.72) 161.27
Other  Income 13 16.33 206.28
Dividend Income   2,075.22 802.01
TOTAL INCOME   487,868.00 652,961.58
EXPENDITURE      
Purchase of securities 14 482,120.35 646,549.69
Interest on borrowings 15 54.57 1,999.48
Other Financial Payments  16 52.34 120.64
Personnel Cost 17 304.42 292.28
Administration & Other expenses        18 488.58 1,007.82
Depreciation- Fixed Assets   87.95 89.12
Provision for Wealth Tax   6.49 8.35
TOTAL EXPENDITURE   483,114.70 650,067.37
Profit before tax, Prior Period & exceptional items   4,753.30 2,894.21
Prior Period items ( refer note no 24 )   180.32 0.00
Exceptional Items:      
Add :- Profit on Sale of Asset   216.23 0.00
Less :- Payment of professional fees ( refer note no. 21 )   (152.96) 0.00
Less :- Dimunition in value of Investment ( refer note no 3 )   (254.38) 0.00
Add :- Profit on Sale of stake in subsidiary (refer note no 1)   1,283.34 1,715.00
Less :- Indemnity payment (refer note no.2)   (1,927.21) (1,000.00)
PROFIT BEFORE TAX   4,098.64 3,609.21
Less: Provision for tax      
Current Tax (MAT)   229.11 327.73
Less: MAT credit entitlement   (229.11) (327.73)
Deferred Tax    807.39 1,098.09
Fringe Benefit Tax   3.73 5.65
PROFIT  AFTER TAX    3,287.52 2,505.45
       
Balance brought forward from last year   1,374.58 (610.87)
Tax Adjustments (Net - refer note 19)    92.11 0.00
AMOUNT AVAILABLE FOR APPROPRIATION   4,754.22 1,894.58
       
Appropriations / ( Withdrawals )      
General Reserve   0.00 0.00
Statutory Reserve  (as per Section 45IC of the RBI Act, 1934)   658.00 520.00
Balance carried to Balance Sheet   4,096.22 1,374.58
    4,754.22 1,894.58
       
Basic and Diluted Earnings Per Share (Rs) Face Value Rs. 100 /-  (Refer Note 29)   8.02 5.13
Accounting Policies  19    
Notes Forming part of the Accounts 20    
Cash Flow Statement 21    
In terms of our report of even date  On behalf of the Board of Directors
For Bansilal Shah & Co (D. Basu)  (T.C.Venkat Subramanian) (P. Sanyal)
Chartered Accountants Chairman   Director Managing Director
( Arvind Shah)      
Partner (Kamlesh Rathi)   ( K.V.S.Mani)
Membership No.71690 Manager   Company Secretary
Mumbai, Mumbai,    
April 22, 2009 April 22, 2009    

Schedules to the Accounts for the year ended 31st March, 2009

(Rupees in lakhs)
  2008-09 2007-08
SCHEDULE- 8        
CURRENT LIABILITIES & PROVISIONS:        
a) Current Liabilities        
Creditors for expenses 78.47   33.44  
Other liabilities  16.79   19.72  
TDS Refundable 0.00 95.26 8.43 61.59
         
b) Provisions        
For Taxation 556.84   11,627.73  
For Wealth Tax 53.39   46.90  
For Stamp Duty 53.80   52.38  
For Performance Linked Incentive 40.00   20.00  
For Indemnities  362.34   0.00  
For loss on Commodity futures 0.00   0.39  
For Gratuity & Leave salary 50.82 1,117.19 39.96 11,787.36
         
TOTAL   1,212.45   11,848.95
         
SCHEDULE- 9        
         
SALE OF SECURITIES (net of brokerage)        
Sales - Treasury Bills         0.00   87,924.51
Sales - A/c -  CP   4,000.00   5,890.51
Sales - A/c -  Certificates of Deposit   15,316.73   36,639.34
Sales - A/c -  PTC   87.59   119.58
Sales - A/c  - GOI  Securities   139,256.86   394,970.21
Sales - A/c  - GOI  Special Securities   0.00   10,950.14
Sales - A/c -  FI Bonds   3,973.40   37,796.88
Sales - A/c -  Equity shares   2,811.61   15,079.10
Sales - A/c -  Liquid Mutual Funds   291,916.35   225,391.08
TOTAL   457,362.54   814,761.34
SCHEDULE- 10        
         
IMCREASE/(DECREASE) IN STOCKS        
Closing Stock - Treasury Bills   0.00   0.00  
Less: Opening stock - Treasury Bills 0.00 0.00 42,404.43 (42,404.43)
         
Closing Stock - Commercial Paper 7,292.36   489.37  
Lesss: Opening Stock 489.37 6,802.99 3,369.51 (2,880.14)
         
Closing Stock -Certificates of Deposit 7,291.77   6,342.28  
Less: Opening Stock  6,342.28 949.49 25,405.52 (19,063.23)
         
Closing Stock - PTC 93.49   164.44  
Less: Opening Stock  164.44 (70.95) 262.31 (97.87)
         
Closing Stock -  GOI  Securities 927.99   0.09  
Less: Opening Stock  0.09 927.90 90,879.71 (90,879.62)
         
Closing Stock - GOI  Special Securities 0.00   0.00  
Less: Opening Stock  0.00 0.00 7,583.72 (7,583.72)
         
Closing Stock - FI Bonds  3,502.80   5,999.80  
Less: Opening Stock  5,999.80 (2,497.00) 10,892.18 (4,892.38)
         
Closing Stock - Equity Shares 0.15   640.09  
Less: Opening Stock  640.09 (639.94) 1,142.73 (502.64)
         
Closing Stock -Liquid Mutual Funds 22,300.00   980.00  
Less: Opening Stock  980.00 21,320.00 0.00 980.00
         
TOTAL   26,792.49   (167,324.02)
SCHEDULE- 11        
         
INTEREST INCOME        
- Call Money   0.00   39.86
- Government Securities   143.72   617.30
- FI & Other Bonds   399.10   472.28
- IPO lending   0.00   168.21
- Loans agst shares   590.33   1.70
- Others   94.56   171.08
- Fixed Deposits   501.43   2,884.27
TOTAL   1,729.14   4,354.70
SCHEDULE- 12        
         
INCOME FROM DERIVATIVES        
Interest Rate Swaps   0.00   (360.35)
Equity futures and options   (71.01)   521.67
Commodity futures   (36.71)   (0.05)
TOTAL   (107.72)   161.27
SCHEDULE- 13        
         
OTHER INCOME        
Underwriting Fees   0.00   19.77
Other Fee Income   8.98   144.59
PMS Fees   0.00   25.76
Discount on CBLO Lending   0.00   16.03
Miscellaneous Income    7.35   0.13
TOTAL   16.33   206.28
SCHEDULE- 14        
         
PURCHASE OF SECURITIES        
Purchases  - Treasury Bills         0.00   45,271.19
Purchases - Commercial Paper   10,331.09   2,951.28
Purchases - Certificates of Deposit   15,163.82   17,143.72
Purchases  - GOI  Securities   140,193.39   305,642.36
Purchases -  GOI  Special Securities   0.00   3,344.81
Purchases - FI Bonds   1,473.08   32,906.35
Purchases - Equity Shares   2,249.97   13,421.34
Purchases - Liquid Mutual Funds   312,709.00   225,868.64
TOTAL   482,120.35   646,549.69
SCHEDULE - 15        
         
INTEREST ON BORROWINGS        
Interest on         
- Call Money 0.00   669.10  
- Borrowings from RBI 0.00   39.66  
- Inter-Corporate Deposits 0.00   498.30  
- Borrowings against FDs 54.57 54.57 270.19 1,477.25
Discount on CP Issued   0.00   258.80
Discount on CBLO borrowing   0.00   263.43
TOTAL   54.57   1,999.48
SCHEDULE - 16        
         
OTHER FINANCIAL PAYMENTS        
Expenses on CP Issued   0.00   4.19
Expenses on REPO   0.00   7.16
Bank Charges   0.66   4.05
DP/CCIL charges   25.80   41.94
Other  Payments/Charges   7.81   18.29
Securities Transaction Tax (STT)   18.07   45.01
TOTAL   52.34   120.64
SCHEDULE - 17        
         
PERSONNEL COST        
Salaries, Wages, Allowances, etc.   275.74   262.80
Contribution to P F & other Funds   16.90   17.62
Staff Welfare expenses   11.78   11.86
         
TOTAL   304.42   292.28
SCHEDULE - 18        
         
ADMINISTRATION & OTHER EXPENSES        
         
Advertising Expenses   0.52   3.40
Donations   0.00   1.03
Electricity charges   12.41   12.69
Information Services   31.48   57.87
Insurance Charges   7.73   15.84
Miscellaneous Expenses   3.60   4.81
Office Expenses   20.87   28.21
Payment to Auditors :        
- Statutory Fees 2.48   2.25  
- Tax Audit Fees 0.66   0.67  
- Other  Fees 1.72 4.86 0.28 3.20
Out of pocket expenses   0.00   0.04
Postage,Telephone & Telegrams   18.76   29.10
Printing & stationery Expenses   6.94   6.87
Professional Fees   73.05   440.97
Rates & Taxes   0.54   0.78
Rent   252.36   313.58
Repairs & Maintanance    30.05   39.52
Sitting Fees to Directors   2.25   2.95
Service Tax - PMS fees   0.00   1.23
Travelling, Conveyance & Car Expenses   23.16   25.10
Loss on sale of asset   0.00   20.62
         
TOTAL   488.58   1,007.82


Sub-Schedule to Administrative Expenses 2008-09 2007-08
Amount (Rs) Amount (Rs)
Office Expenses     
Annual Subscription 458,391.00 270,252.60
Board Meeting Expenses 479,237.00 458,347.38
Business Development Expenses 122,537.33 301,823.49
Newspaper & periodicals 30,536.00 177,489.00
Office Expenses 994,476.14 1,589,943.79
Library Book 1,614.00 23,193.00
Total 2,086,791.47 2,821,049.26
     
Rent     
Rent 26,617,104.89 31,888,638.00
Less House Rent Recovery 1,381,343.00 530,250.00
Total 25,235,761.89 31,358,388.00
     
Travelling Conv. & Motor Car Exp. :    
Travelling Expenses 2,316,135.34 2,510,103.96
Conveyance    
Total 2,316,135.34 2,510,103.96
     
Miscellaneous Expenses :    
Computer Software expenses 76,208.90 118,011.00
Conference Expenses 0.00 0.00
Miscellaneous Expenses 283,502.49 363,284.37
Interest paid others 0.00 0.00
Out of pocket Expenses    
Total 359,711.39 481,295.37
     
Rates & Taxes :    
Rates & Taxes 35,510.00 54,234.00
Stamp Fees  2,360.00 6,150.00
Filing Fees 16,394.00 17,936.00
     
Total 54,264.00 78,320.00
     
Salaries , Wages & Allowances :    
Salaries 19,596,142.00 17,916,573.00
Staff Allowance Expenses 3,698,824.00 3,809,723.50
TDS on Housing perks 196,990.00 92,700.00
Medical Expenses 250,714.00 185,486.50
Leave Travel Allowance 2,346,250.00 2,283,732.60
Leave Encashment 1,365,599.00 1,952,905.00
Stipend 119,200.00 39,000.00
Total 27,573,719.00 26,280,120.60
     
Staff Welfare Expenses :    
Staff Welfare Expenses 1,049,519.50 969,842.54
Training Expenses 128,031.00 215,960.00
Total 1,177,550.50 1,185,802.54

Balance Sheet as at 31st March, 2009

(Rupees in lakhs)
SCH AS AT MARCH 31, 2009 AS AT MARCH 31, 2008
           
SOURCES OF FUNDS           
           
1. Shareholders' Funds           
a. Share Capital 1 41,000.00   41,000.00  
b. Reserves and Surplus 2 41,119.39 82,119.39 37,744.58 78,744.58
           
2. Loan Funds:          
a. Secured Loans 3 0.00   0.00  
b. Unsecured Loans 4 0.00 0.00 0.00 0.00
           
TOTAL     82,119.39   78,744.58
           
APPLICATION  OF FUNDS           
           
1. Fixed Assets 5        
Gross Block   1,331.18   1,417.54  
Less : Depreciation    515.29   453.65  
Net Block   815.89   963.89  
Capital Work-in-progress (incl capital advances)   0.00 815.89 12.87 976.76
           
2. Investments 6   27,752.47   34,401.93
           
3. Deferred Tax Asset  (refer Note no.13 )     2,596.38   3,403.77
           
4. Current Assets, Loans and advances 7        
a) Stock-in-Trade   41,408.56   14,616.08  
b) Accrued Income    270.78   2,648.99  
c) Cash & Bank Balances   173.45   19,088.28  
d) Loans & Advances   10,314.31   15,457.74  
    52,167.10   51,811.08  
Less: Current Liabilities  and Provisions 8        
a) Current Liabilities    95.26   61.59  
b) Provisions   1,117.19   11,787.36  
    1,212.45   11,848.95  
Net Current Assets     50,954.65   39,962.13
           
TOTAL     82,119.39   78,744.58
In terms of our report of even date  On behalf of the Board of Directors
 
For Bansilal Shah & Co (D. Basu)  ( T.C.Venkat Subramanian ) (P. Sanyal)
Chartered Accountants Chairman  Director Managing Director
 
( Arvind Shah)        
Partner (Kamlesh Rathi)     ( K.V.S.Mani)
Membership No.71690 Manager     Company Secretary
         
Mumbai, Mumbai,      
April 22, 2009 April 22, 2009      

Schedules to the Accounts fot the year ended 31st March, 2009

(Rupees in lakhs)
  AS AT MARCH 31, 2009 AS AT MARCH 31, 2008
SCHEDULE -1         
         
SHARE CAPITAL        
         
Authorised        
  50,000,000 Equity Shares of Rs.100/- each   50,000.00   50,000.00
         
Issued, Subscribed and Paid-up         
410,00,000 Equity shares  of Rs. 100/- each fully paid    41,000.00   41,000.00
( 90,00,000 shares of Rs 100/- each were bought back at Rs. 175/-each during 2007-08)        
    41,000.00   41,000.00
SCHEDULE - 2        
         
RESERVES AND SURPLUS        
         
General Reserves        
Balance as per last Balance Sheet 4,250.00   20,000.00  
Utilised for premium on buy-back of shares 0.00   (6,750.00)  
Trf. to capital Redemption reserve on buyback of shares 0.00   (9,000.00)  
Less:- Tansitional liab. On AS 15   (4.83)   0.00  
Amount transferred from Profit & Loss Account 0.00 4,245.17 0.00 4,250.00
         
Reserve created pursuant to Section 45 I C of RBI Act,        
1934 as amended by RBI (Amendment) Act, 1997 *        
Balance as per last Balance Sheet 23,120.00   22,600.00  
Amount transferred from Profit & Loss Account 658.00 23,778.00 520.00 23,120.00
         
Capital Redemption Reserve    9,000.00   9,000.00
         
Balance in Profit & Loss Account    4,096.22   1,374.58
         
TOTAL   41,119.39   37,744.58
* Forms part of Free Reserves, Net owned funds & Tier I capital        
SCHEDULE - 3        
         
SECURED LOANS    0.00   0.00
         
TOTAL   0.00   0.00
SCHEDULE - 4        
         
UNSECURED LOANS   0.00   0.00
         
TOTAL   0.00   0.00
SCHEDULE - 6        
         
INVESTMENTS - (At Cost unless otherwise stated)        
  Numbers Face Value  Book Value  Face Value  Book Value 
Long Term          
1) Trade investments          
Equity shares fully paid (Unquoted)          
The Clearing Corporation of India Ltd 5000000 500.00 500.00 500.00 500.00
SCSCML (stake sold during the year refer note 1) 8060302 806.03 7,119.92 1,540.37 13,515.00
           
    1,306.03 7,619.92 2,040.37 14,015.00
2) Subsidiary Companies          
Equity shares fully paid (Unquoted)          
STCI Primary Dealer Ltd   200000000 20,000.00 20,000.00 20,000.00 20,000.00
STCI Commodities Ltd   4500000 450.00 386.93 450.00 386.93
Less:- Provision for decline in value of subsidiary STCI Comm., (refer note -3)     (254.38)    
  20,450.00 20,132.55 20,450.00 20,386.93
           
AGGREGATE BOOK VALUE OF INVESTMENTS 21,756.03 27,752.47 22,490.37 34,401.93
    Cost   Market Value
Aggregate of Unquoted Investments - Current Year 21,756.03 27,752.47 - unquoted
Aggregate of Unquoted Investments - Previous Year 22,490.37 34,401.93 - unquoted
SCHEDULE- 7        
         
CURRENT ASSETS, LOANS AND ADVANCES        
         
A) CURRENT ASSETS:        
         
a)  STOCK-IN-TRADE         
( As certified and valued by Management )        
( Please also refer Note No.3 of Schedule 19 )        
Government Securities 927.99   0.09  
FI & Other Bonds 3,502.80   5,999.80  
Liquid Mutual Funds 22,300.00   980.00  
Certificates of Deposit 7,291.77   6,342.28  
Commercial Paper 7,292.36   489.37  
Equity Shares 0.15   640.09  
Pass Through Certificates 93.49   164.44  
    41,408.56   14,616.08
b) ACCRUED INCOME:        
Accrued interest on :        
 - Government Securities   9.92   0.00  
 - FI & Other Bonds   190.81   371.97  
 - Call/Term Money lending 0.00   1,526.57  
 - Dividend Receivable 0.00   722.93  
 - Others 70.05   27.51  
    270.78   2,648.99
c) CASH & BANK BALANCES        
Cash in hand  0.04   0.03  
Balances with Scheduled Banks 0.00   0.00  
 -  In Current Account 173.41   88.25  
 -  In Deposit Account 0.00   19,000.00  
Balances with Reserve Bank of India 0.00   0.00  
    173.45   19,088.28
B) LOANS & ADVANCES        
         
 Secured considered good        
Loan Against Shares 5,012.00   0.00  
         
Unsecured considered good        
Advance paid to Suppliers (due for more than six months) 5.00   5.00  
Loans & Advances to Staff (due for more than six months) 0.00   0.03  
Other Loans ( to subsidiary STCI Commodities Ltd.) 70.00   0.00  
Advances recoverable in cash or         
in kind or for  value to be received :        
Margin Money with CCIL 1.00   0.00  
Margin Money for Equity F&O 999.00   1,000.00  
Initial Margin for Commodities trading 0.00   1.50  
Advance Payment of Direct Taxes 3,788.24   13,989.31  
Deposits 361.98   362.66  
Other Receivables   4.38   2.53  
Receivable from Custodian for Equity trades 0.00   29.35  
Receivable from Custodian for Commodities  30.03   6.45  
Service Tax Availed 0.34   4.43  
Daily MTM on Commodity Futures 0.00   0.39  
Prepaid Expenses 42.34   56.09  
    10,314.31   15,457.74
TOTAL   52,167.10   51,811.08


Research & Publications
 Site is best viewed in 1024 by 768 pixels
Sitemap | Useful links | Feedback | Contact us | Disclaimer