Mar 31, 2018
1. Corporate Information
The Company is Public Limited company domicilied in India and is incorporated under the provisions of Companies Act, 1956. The registered office of the Company is located at Plot No. 399/400, Village Sanghavi, Taluka Khandala, District - Satara.
2. Basis of Preparation of Financial Statements
The standalone financial statements have been prepared in accordance with Indian Accounting Standards (âInd AS") as issued under the Companies (Indian Accounting Standards) Rules, 2015. The standalone Financial statements have been prepared to comply in all material respects with the Accounting Standards specified under section 133 of the Act, read with rule 7 of the Companies (Accounts) Rules, 2014 and the relevant provisions of the said Act and the guidelines issued by the Securities and Exchange Board of India. These standalone financial statements for the year ended 31at March,2018 are the first standalone financial statements that the Company has prepared in accordance with Ind AS. The standalone financial statements have been prepared on historical cost basis except for the investments which have been measured at fair value as they are classified as fair value through profit or loss or fair value through other comprehensive income.
a) TERMS/ RIGHTS ATTACHED TO EQUITY SHARES
(i) The Company has only one class of shares referred to as Equity Shares having a par value of Rs. 10/- each. Each holder of Equity Shares is entitled to one vote per share.
(ii) In case any Dividend is Declared and paid it is done in Indian Rupees. The Dividend proposed if any by the Board of Directors is subject to the approval of Shareholders in the ensuing Annual General Meeting.
(iii) The Company has not declared or paid any dividend during the year or in respect of the year ended on 31st March,2018.
(iv) In the event of liquidation of the Company the holders of Equity Shares will be entitiled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. However no such preferential amounts exist currently. The distribution will be in proportion to the number of Equity Shares held by the Shareholders.
NOTE 3 Segment Information
i. Information about Primary Geographical Segments:
Not Applicable since the company operates in single Geographical Segment i.e. Domestic. The Company does not have any major Exports, which are less than 1 % of its total Sales.
ii. Information about Secondary Business Segments:
Not Applicable since no Secondary Segment is identified as the Company operates in a Single Business Segment of Manufacturing of Food Products.
NOTE 4 Related Party Disclosures [as required by Accounting Standards (AS 18)]
As required by Accounting Standards-AS âRelated Party Disclosureâ is made as under.
A. Names of Related Parties and description of Relationship with whom there were no transactions during the year Directors / Relatives -
i) Mr. Hukmichand Sukhlal Chordia Companies / LLP -
i) Chordia Technologies LLP.
NOTE 5
The Computation of Net profit for the purpose of calculation of Directorsâ Remuneration under Section 198 of the Companies Act, 2013 is not enumerated, since no commission had been paid to the Managerial personnel.
NOTE 6
The Company has not received information from Vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to amounts unpaid as at the year end date. Together with interest paid/ payable under this Act, have not been given. The same has been relied upon by the Auditors.
NOTE 7
i) These Financial statements for the year ended 31st March, 2018 are the first financial statements, the Company has prepared in accordance with Ind AS. For periods up to and including the year ended 31st March, 2017, the Company has prepared its financial statements in accordance with Indian GAAP.
Accordingly, the Company has prepared financial statements which comply with Ind AS applicable for periods ending 31st March, 2018, together with the comparative period data as at and for the period ended 31st March, 2017 as described in the summery of significant accouting policies. In preparing these financial statements, the Companyâs opening Balance Sheet was prepared as at 1** April,2016 the Companyâs date of transition to Ind AS. This note explains the principle adjustments made by the Company in restating its Indian GAAP financial statements, including the Balance Sheet as at 1*â April,2016 and the financial statements as at and for the year ended 31** March,2017.
ii) Prior Period Adjustments
As per Indian Accounting Standard 8, âAccounting Policies, Changes in Accounting Estimatesâ requires retrospective adjustment of prior period errors and omissions by restating the comparative amounts for prior period presented or, where the errors relates to the period(s) before the earliest prior period presented, restating the opening balance of assets, liabilities and equity for that period. Accordingly the effect of prior period errors and omissions relating to the period before the earliest prior period presented have been given by restating the opening balance of assets, liabilities and equity as applicable.
iii) Exemptions Applied
Ind As 101 â First- time Adoption of Indian Accounting Standards allows a first time adopter certain exemptions from the retrospective application of certain requirements under Ind AS.
The Company has applied following exemptions
The Company has elected to continue with the carrying value for all of its Property, Plant and Equipment as recognised in its Indian GAAP financial statements as at 1*1 April,2016 as deemed cost at the date of transition.
Mar 31, 2016
Notes :
(i) Out of the above Shares 1,03,700 Equity Shares were allotted as fully paid Bonus Shares by way of Capitalization of Reserves.
(ii) During the year 2002-2003, 2,25,000 Equity Shares of '' 10/- each were bought back @ '' 25.50 per share.
c) TERMS/RIGHTS ATTACHED TO EQUITY SHARES
(i) The Company has only one class of shares referred to as Equity Shares having a par value of '' 10/- each. Each holder of Equity Shares is entitled to one vote per share.
(ii) In case any Dividend is declared and paid it is done in Indian Rupees. The Dividend proposed if any by the Board of Directors is subject to the approval of Shareholders in the ensuing Annual General Meeting
(iii) The Company has not declared or paid any dividend during the year or in respect of the year ended on 31st March 2016.
(iv) In the event of liquidation of the Company, the holders of Equity Shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. However no such preferential amounts exist currently. The distribution will be in proportion to the number of Equity Shares held by the Shareholders.
i. Information about Primary Geographical Segments:
Not Applicable since the company operates in single Geographical Segment i.e. Domestic. The Company does not have any major Exports, which are less than 1% of its total Sales.
ii. Information about Secondary Business Segments:
Not Applicable since no Secondary Segment is identified as the Company operates in a Single Business Segment of Manufacturing of Food Products.
NOTE 1. RELATED PARTY DISCLOSURES [as required by Accounting Standards (AS 18)]
As required by Accounting Standards-AS âRelated Party Disclosureâ is made as under.
A. Names of Related Parties and Description of Relationship with whom there were no transaction during the year. Director -
i) Mr. Hukmichand Sukhlal Chordia Companies / LLP -
i) Chordia Technologies (India) LLP
B. Names of Related Parties and Description of Relationship with whom there were transaction during the year. Directors / Relatives Firms
i) Mr. Pradeep Hukmichand Chordia i) Kamal Industries
ii) Pravin Sales Division
Companies/ LLP iii) Pravin Masalewale
i) Chordia Food Park & Properties Ltd. iv) Chordia Products
ii) Pravin Foods Pvt Ltd v) Dhanykumar & Co
iii) Raja Flavors & Foods LLP
NOTE 2
The Computation of Net profit for the purpose of calculation of Directorsâ Remuneration under Section 198 of the Companies Act, 2013 is not enumerated, since no commission had been paid to the Managerial personnel.
NOTE 3.
The Company has not received information from Vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to amounts unpaid as at the yearend date. Together with interest paid/ payable under this Act, have not been given. The same has been relied upon by the Auditors.
Mar 31, 2015
NOTE 1.
SEGMENT INFORMATION
i. Information about Primary Geographical Segments:
Not Applicable since the Company operates in single Geographical
Segment i.e. Domestic. The Company does not have any major Exports,
which are less than 1% of its total Sales.
ii. Information about Secondary Business Segments:
Not Applicable since no Secondary Segment is identified as the Company
operates in a Single Business Segment of Manufacturing of Food
Products.
NOTE 2. RELATED PARTY DISCLOSURES [as required by Accounting Standards
(AS 18)]
As required by Accounting Standards-AS "Related Party Disclosure" is
made as under
NOTE 3
The Computation of Net profit for the purpose of calculation of
Directors' Remuneration under Section 198 of the Companies Act, 2013 is
not enumerated, since no commission had been paid to the Managerial
personnel.
NOTE 4
The Company has not received information from Vendors regarding their
status under the Micro, Small and Medium Enterprises Development Act,
2006 and hence disclosures relating to amounts unpaid as at the year
end date. together with interest paid/ payable under this Act, have not
been give. The same has been relied upon by the Auditors.
Mar 31, 2014
NOTE 1 THE DISCLOSURE REQUIED BY ACCOUNTING STANDARD (AS-29)
PROVISIONS, CONTINGENT LIABILITIES, CONTIGENT ASSETS PRESCRIBED BY THE
COMPANIES (ACCOUNTING STANDARDS) AMENDMENT RULES, 2006 ARE AS FOLLOWS:
Class of Opening Provisions Amounts used Amounts Closing
provision Balance as on for the during the year reversed Balance
1st April 2013 year during as on 31st
the year March 2014
Nil Nil Nil Nil Nil Nil
NOTE 2 SEGMENT INFORMATION
i. Information about Primary Geographical Segments:
Not Applicable since the company operates in single Geographical
Segment i.e. Domestic. The Company does not have any major Exports,
which are less than 1% of its total Sales.
ii. Information about Secondary Business Segments:
Not Applicable since no Secondary Segment is identified as the Company
operates in a Single Business Segment of Manufacturing of Food
Products.
NOTE 3 RELATED PARTY DISCLOSURES [AS REQUIRED BY ACCOUNTING STANDARDS
(AS 18)]
As required by Accounting Standards-AS "Related Party Disclosure" is
made as under.
A. Names of Related Parties and Description of Relationship with whom
there were no transaction during the year. Director -
i) Mr. Hukmichand Sukhlal Chordia ii) Dr. Pravin H. Chordia iii) Mr.
Mahendra Mehta iv) Mr. Vijaykumar Kankaliya v) Mr. Ajay Pohekar
Companies - i) Chordia Technologies Pvt. Ltd.
B Names of Related Parties and Description of Relationship with whom
there were transaction during the year. Directors - i) Mr. Pradeep
Hukmichand Chordia Firms :
i) Kamal Industries Companies - i) Chordia Food Park & Properties Ltd.
ii) Pravin Sales Division
NOTE 4
The Computation of Net profit for the purpose of calculation of
Directors'' Remuneration under Secton 349 of the Companies Act, 1956 is
not enumerated, since no commission had been paid to the Managerial
personnel.
NOTE 5
The Company has not received information from Vendors regarding their
status under the Micro, Small and Medium Enterprises Development Act,
2006 and hence disclosures relating to amounts unpaid as at the year
end date. Together with interest paid/ payable under this Act, have not
been give. The same has been relied upon by the Auditors.
Mar 31, 2013
NOTE 1 SEGMENT INFORMATION
i. Information about Primary Geographical Segments:
Not Applicable since the company operates in single Geographical
Segment i.e. Domestic. The Company does not have any major Exports,
which are less than 1% of its total Sales.
ii. Information about Secondary Business Segments:
Not Applicable since no Secondary Segment is identified as the Company
operates in a Single Business Segment of Manufacturing of Food
Products.
NOTE 2 RELATED PARTY DISCLOSURES [AS REQUIRED BY ACCOUNTING STANDARDS
(AS 18)]
As required by Accounting Standards-AS "Related Party Disclosure" is
made as under.
A. Names of Related Parties and Description of Relationship with whom
there were no transaction during the year. Director Â
i) Mr. Hukmichand Sukhlal Chordia ii) Dr. Pravin H. Chordia iii) Mr.
Hiralal N. Lunkad iv) Mr. Mahendra Mehta Companies  i) Chordia
Technologies Pvt. Ltd. B Names of Related Parties and Description of
Relationship with whom there were transaction during the year.
Directors  i) Mr. Pradeep Hukmichand Chordia Firms : i) Kamal
Industries Companies  i) Chordia Food Park & Properties Ltd. ii)
Pravin Sales Division
NOTE 3
The Computation of Net profit for the purpose of calculation of
Directors'' Remuneration under Section 349 of the Companies Act, 1956 is
not enumerated, since no commission had been paid to the Managerial
personnel.
NOTE 4
The Company has not received information from Vendors regarding their
status under the Micro, Small and Medium Enterprises Development Act,
2006 and hence disclosures relating to amounts unpaid as at the year
end date. Together with interest paid/ payable under this Act, have not
been given. The same has been relied upon by the Auditors.
Mar 31, 2012
1. BASIS OF PREPARATION FINANCIAL STATEMENTS
a. The financial statements have been prepared to comply in all
material respects with the mandatory Accounting Standards notified
under Companies (Accounting Standards) Rules, 2006 and the relevant
provisions of the Companies Act, 1956.
b. The Company follows mercantile system of accounting and recognises
Income and Expenditure on an accrual basis except those with
significant uncertainties.
c. The accounting policies applied by the Company are consistent with
those used in the previous year.
d. For preparation and presentation of the financial statements,
erstwhile Schedule VI to the Companies Act, 1956 was used up to the
year ended 31st March, 2011.
For the year ended 31st March 2012, the revised Schedule VI notified
under the Companies Act 1956 has become applicable to the Company.
Previous years figures have been regrouped to conform to the current
year re-classification.
2. The Company has only one class of shares referred to as Equity
Shares having a par value of Rs. 10/- each. Each holder of Equity
Shares is entitled to one vote per share.
3. In case any Dividend is declared and paid it is done in Indian
Rupees. The Dividend proposed if any by the Board of Directors is
subject to the approval of Shareholders in the ensuing Annual General
Meeting
4. The Company has not declared or paid any dividend during the year
or in respect of the year ended on 31s1 March 2012.
5. In the event of liquidation of the Company, the holders of Equity
Shares will be entitled to receive any of the remaining assets of the
Company, after distribution of all preferential amounts. However no
such preferential amounts exist currently. The distribution will be in
proportion to the number of Equity Shares held by the shareholders.
6. The Company is Holding Company of Western Agri Food Park Pvt. Ltd..
However, its is not a Subsidiary Company of any other Company.
NOTE 7 SEGMENT INFORMATION
i. Information about Primary Geographical Segments:
Not Applicable since the company operates in single Geographical
Segment i.e.Domestic. The Company does not have any major Exports,
which are less than 1% of its total Sales.
ii. Information about Secondary Business Segments:
Not Applicable since no Secondary Segment is identifed as the Company
operates in a Single Business Segment of Manufacturing of Food
Products.
NOTE 8 RELATED PARTY DISCLOSURES [as required by Accounting Standards
(AS 18)]
As required by Accounting Standards-AS "Related Party Disclosure" is
made as under.
A. Names of Related Paties and Description of Relationship with whom
there were no transaction during the year. Director -
i) Dr. Pravin H. Chordia ii) Mr. Hiralal N. Lunkad iii) Mr. Mahendra
Mehta Companies -
i) Chordia Technologies Pvt. Ltd.
B. Names of Related Parties and Description of Relationship with whom
there were transaction during the year. Directors -
i) Mr. Hukmichand Sukhlal Chordia ii) Mr. Pradeep Hukmichand Chordia
Companies -
i) Agri Food Park (India) Ltd. ii) Western Agri Food Park Pvt. Ltd.
NOTE 9
The Computation of Net profit for the purpose of calculation of
Directors' Remuneration under Secton 349 of the Companies Act, 1956 is
not enumerated, since no commission had been paid to the Managerial
personnel.
NOTE 10
The Company has not received information from Vendors regarding their
status under the Micro, Small and Medium Enterprises Development Act,
2006 and hence disclosures relating to amounts unpaid as at the year
end date. Together with interest paid/ payable under this Act, have not
been give. The same has been relied upon by the Auditors.
Mar 31, 2010
1. Estimated amounts of contracts remaining to be executed on Capital
account and not provided for Rs. Nil (Previous Year Rs. Nil.)
2. The Computation of Net Profit for the purpose of calculation of
Directors remuneration under Section 349 of the Companies Act,1956 is
not enumerated, since no commission had been paid to the Managerial
personnel.
3. The Company has not received information from Vendors regarding
their status under the Micro, Small and Medium Enterprises Development
Act, 2006 and hence disclosures relating to amounts unpaid as at the
year end date, together with interest paid/ payable under this Act,
have not been given. The same has been relied upon by the Auditors.
4. As required by Accounting Standards - AS-18 "Related Party
Disclosure" is made as under;
A. Names of Related Parties and Description of Relationship with whom
there were no transaction during the year. Directors
i) Dr. Pravin H. Chordia
ii) Mr. Hiralal N. Lunkad
iii) Mr. Mahendra Mehta
Companies
i) Chordia Technologies Pvt Ltd.
B. Names of Related Parties and Description of Relationship with whom
there were transactions during the year.
Directors
i) Mr. Hukmichand Sukhlal Chordia ii) Mr. Pradeep Hukmichand Chordia
Companies
i) Agri Food Park (India) Ltd ii) Western Agri Food Park Private Ltd.
5 Segment Information
5.1 Information about Primary Geographical Segments
Not Applicable since the company operates in single Geographical
Segment i.e.Domestic. The Company does not have any major Exports,
which are less than 1% of its total Sales.
5.2 Information about Secondary BusinessSegments:
Not Applicable since no Secondary Segment is identifed as the company
operates in a single Business Segment of Manufacturing of Food
Products. 12. The Previous year figures have been regrouped and /or
reclassified wherever necessary.
Mar 31, 2009
1. Estimated amounts of contracts remaining to be executed on Capital
account and not provided for Rs. Nil (Previous Year Rs. Nil.)
2. Additional information pursuant to the provisions of paragraph 3,
4C & 4D of Part II of Schedule VI of the Companies Act, 1956
3. The Computation of Net Profit for the purpose of calculation of
Directors remuneration under Section 349 of the Companies Act, 1956 is
not enumerated, since no commission had been paid to the Managerial
personnel.
4. The Company has not received information from Vendors regarding
their status under the Micro, Small and Medium Enterprises Development
Act, 2006 and hence disclos res relating to amounts unpaid as at the
year end date, together with interest paid/ payable under this Act,
have not bjen given. The same has been relied upon by the Auditors. 9.
as required by Accounting Standards - AS-18 "Related Party Disclosure"
is made as under;
A. Names of Related Parties and Description of Relationship with whom
there were no transaction during the year.
Directors
i) Dr. Pravin H. Chordia ii) Mr. Hiralal N. Lunkad
iii) Mr. Mahendra Mehta
Companies
i) Chordia Technologies Pvt Ltd.
B. Names of Related Parties and Description of Relationship with whom
there were transaction during the year.
Directors
i) Mr. Hukmichand Sukhlal Chordia ii) Mr. Pradeep Hukmichand Chordia
Companies
i) Agri Food Park (India) Ltd ii) Western Agri Food Park Private Ltd.
5. Segment Information
5.1 Information about Primary Geographical Segments
Not Applicable, since the Company operates in single Geographical
Segment i.e. Domestic. The Company does not have any major Exports,
which are less than 1% of its total Sales.
5.2 Information about Secondary Business Segments:
Not Applicable since no Secondary segment is identified as the Company
operates in a single Business Segment of Manufacturing of Food Produ
:ts.
6. The previous year figures have been regrouped and /or reclassified
wherever necessary.