Mar 31, 2018
1. Corporate Information
The Company has strong presence in agri sector and one of the Indiaâs leading manufacturers of various farm inputs in India comprising of NPK mixture granulated fertilizers, phosphatic fertilizer as well as various hybrid seeds. The company trade mark âKrishi Sanjivaniâ has been recognized as a sign of quality by the farming community. The company production facilities are located in different states like Maharashtra, Karnataka, and Madhya Pradesh. The company also engaged in business of generating power through Wind Turbine and operating and maintaining warehousing and cold storage facilities.
Long Term Borrowing
1. Rupee Term loan of Rs. 670.00 lakhs (sanction of Rs.1689.00 lakhs in F.Y. 2017-18) from State Bank of India is primarily secured by way of mortgage of fixed assets of the Company.
2. Vehicle loan of Rs.33.97 lakhs (sanction Rs.45.00 lakhs) is secured by the hypothecation of the car.
3. Unsecured loan of Rs.2437.31 lakhs (previous year Rs.2531.10 lakhs) has been procured from the promoter group as a promoter fund infusion towards the State Bank of India sanction loan and are repayable after maturity of the loan.
Short Term Borrowing
1. Cash credit / working capital demand loan and buyer credit avail from State Bank of India are secured by way of hypothecation of stock and book debts and charge over the fixed assets of the Company.
2. The overdraft from bank of Rs.15.13 lakhs (previous year Nil) was obtained from State Bank of India against the fixed deposit pledge with them.
Trade payables
There are no outstanding amounts payable beyond the agreed period the micro, small and medium enterprises as required by MSMED Act, 2006 as on the balance sheet date to the extent such enterprises have been identified based on information available with the Company.
Notes :
- Expected Return on Plan assets is based on market expectations, at the beginning of the year, for returns over the entire life of the related obligations.
- Gratuity is payable to all employees at the rate of 15 days salary for each completed years of service. In respect of employees covered by the Payment of Gratuity Act, 1965, the same is subject to a maximum of Rs.10 lakhs.
NOTE No. 2 :
Previous Yearsâ figures / published financial results have been regrouped and reclassified wherever necessary to correspond with the current yearsâ classification / disclosures.
Mar 31, 2015
1. Rights attached to equity shares
The Company has only one class of equity share of face value of
Rs.1/-per share. Each holder of equity share is entitled to one vote
per share. The company declares and pays dividend on equity shares in
Indian rupee
(Rs. in lacs)
2. CONTINGENT LIABILITIES
Claim against the company not
acknowledged as a debt
* Custom duty demand pending before
ommissioner customs (appeals), Mumbai 18.46 26.46
3. VALUE OF IMPORTS
(ON CIF BASIS) & EARNINGS
(a) * Raw materials : 2449.92 1767.64
* Stores & spares & capital goods Nil Nil
(b) Earning in foreign exchange Nil Nil
4. RELATED PARTY DISCLOSURE
List of related parties with whom transactions have taken place during
the year :
1. Enterprises over which : M/s. Basant Seeds, M/s. Ashwin & Co.
Key managerial personnel are able
to exercise significant influence
2. Key managerial personnel : Shri. Shashikant C. Bhartia - Chairman &
Managing Director
Shri. Deepak C. Bhartia - Managing
Director
Shri. Ashwin Bhartia - Executive
Director
Shri. Naredra Pathak - Chief Financial
Officer
Shri. Prasad Todankar - Company Secretary
5. Previous years' figures / published financial results have been
regrouped and reclassified wherever necessary to correspond with the
current years' classification / disclosures.
Mar 31, 2014
Notes :
1. The above cash flow statement has been prepared by using the
indirect method as per the Accounting Standard 3-Cash flow Statement
issued by the Institute of Chartered Accountants of India.
2. Previous year''s figures have been regrouped / rearranged wherever
necessary to conform to the current year''s presentation.
Note : Lease hold land has been acquired from M/s Suzlon for the period
of 30 years.
NOTES ON FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2014
( Rs. in thousands)
For the year ended For the year ended
31st March, 2014 31st March, 2013
NOTE No. 2 : CONTINGENT
LIABILITIES
Contingent liabilities not
provided for Custom duty demand
pending before commissioner customs 26.46 Nil
(Appeals), Mumbai
NOTE No. 3 : VALUE OF IMPORTS
(ON CIF BASIS) & EARNINGS
(a) - Raw materials: 292276 392326
- Stores & spares & capital goods Nil Nil
(b) Earning in foreign exchange Nil Nil
NOTE No. 4 : RELATED PARTY DISCLOSURE
List of related parties with whom transactions have taken place during
the year :
1. Associate : M/s. Basant Seeds, M/s. Ashwin & Co.
2. Key managerial personnel : Shri. Shashikant C. Bhartia - Chairman &
Managing Director
Shri. Deepak C. Bhartia - Managing Director Shri. Ashwin Bhartia -
Executive Director.
Notes :
(i) No amounts in respect of related parties have been written off /
written back or provided for during the year.
(ii) Related party relationship have been identified by the management
and relied upon by the auditors.
NOTE No. 5 :
Previous year''s figures / published financial results have been
regrouped and reclassified wherever necessary to correspond with the
current years'' classification / disclosures.
Mar 31, 2013
NOTE No. 1 : CONTINGENT LIABILITIES
Contingent liabilities not provided for Nil Nil
NOTE No. 2 : RELATED PARTY DISCLOSURE
List of related parties with whom transactions have taken place during
the year :
1. Associate : M/s. Basant Seeds, M/s. Ashwin & Co.
2. Key Managerial Personnel : Shri. Deepak C. Bhartia - Managing
Director
Shri. Shashikant C. Bhartia - Chairman & Managing Director Shri. Ashwin
Bhartia - Executive Director.
NOTE No. 3 :
Previous year''s figures / published financial results have been
regrouped and reclassified wherever necessary to correspond with the
current years'' classification / disclosures.
Mar 31, 2012
NOTE No. 1 : CONTINGENT LIABILITIES
Contingent liabilities not provided for Nil Nil
NOTE No. 2 : RELATED PARTY DISCLOSURE
List of related parties with whom transactions have taken place during
the year :
1. Associate : Basant Seeds, Ashwin & Co.
2. Key Managerial Personnel : Deepak C. Bhartia - Managing
Director, Shashikant C. Bhartia
- Chairman & Managing Director,
Ashwin Bhartia - Executive Director
Notes:
(i) No amounts in respect of related parties have been written
off/written back or provided for during the year.
(ii) Related party relationship have been identified by the management
and relied upon by the auditors.
NOTE No. 3 : UTILISATION OF FUNDS
During the year 2011-12 the company has allotted 70,00,000 equity
shares of Rs. 1/- each to the promoters of the company at the premium
of Rs. 6.75 per shares aggregating to Rs. 542.50 lacs on conversion of
warrants.
NOTE No. 4 :
The financial statement has been prepared on basis of revised Schedule
VI which has become effective from April 2011. Hence previous year's
figures/published financial results have been regrouped and
reclassified wherever necessary to correspond with the current years'
classification/disclosures.
Mar 31, 2010
1. Contingent liabilities not provided for (Rs. in Thousands)
2009-10 2008-09
Nil Nil
2. Estimated amount of Contracts
remained to be executed on capital account - NIL
3. a) The information regarding small scale industrial undertakings
has been determined to the extent that such parties have been
identified on the basis of information available with the company. This
has been relied upon by the Auditors b) The company has not received
any intimation from the supplier regarding their status under the
Micro, Small and Medium Enterprises Development Act, 2006 and hence
disclosures if any relating to amounts unpaid as at the year end
together with the interest paid/ payable as required under the said Act
have not been given.
4. In the opinion of management current assets, loans & advances have
a value on realisation which is atleast equal to their value stated in
Balance Sheet.Provision for depreciation & all known liabilities is
adequate and not in excess of the amount reasonably necessary.
5. The accounts of certain Sundry Debtors, Sundry Creditors, Advances
and Lenders are subject to confirmation/ reconciliation and
adjustments, if any. The management does not expect any material
difference affecting the current years financial statements.
6. Accounting Standard 18 : Related party disclosure
List of related parties with whom transactions have taken place during
the year:
1. Associate : Basant Seeds,Ashwin & Co.
2. Key Managerial Personnel : Deepak C. Bhartia - Managing Director
Shashikant C. Bhartia - Jt. Managing Director Ashwin Bhartia -
Executive Director
3. Relatives of key managerial : Shri N. C. Bhartia, Smt.S. S.
Bhartia, Shri A.D. Bhartia, Personnel Shri A.N.Bhartia, Smt. T. C.
Bhartia, Smt. V. N. Bhartia, Smt. N. D. Bhartia,
7. Previous years figures / published financial results have been
regrouped and rearranged wherever necessary.
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