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Notes to Accounts of Sanwaria Agro Oils Ltd.

Mar 31, 2015

1. Rights, preferences and restrictions attached to shares

Equity shares: The company has one class of equity shares having a par value of Re. 1 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amount, in proportion to their shareholding.

2. Corporate Information:-Sanwaria Agro Oils Limited. (the company) Is a public company domicile in India an incorporate under the provision of Companies Act 1956 is shares are listed on the Bombay stock exchange (BSE) and National Stock Exchange (NSE). The company is engaged in the manufacturing and selling of Oils seeds (mainly soybean) and crude edible oil, selling of De-oil Cake and crude/ refined oil and generation.

3. Basis of preparation of financial statement;- The financial statements of the company have been prepared to comply in all material respects with the notified accounting standards by the company's (accounting standards) Rule 2006 and relevant provision of the company's act 1956. The financial statements are prepared on historical cost convention on an accrual basis. The accounting policies have been consistently applied by the company.

4. Contingent Liability is disclosed in the case of :

a) A present obligation arising from past event, when it is not probable that an outflow of resources will be required to settle the obligation

b) A possible obligation, unless the probability of outflow of resources is remote.

Contingent Assets are neither recognised nor disclosed. Provisions, Contingent Liabilities and Contingent Assets are reviewed at each Balance Sheet Date.

5 . Contingent Liabilities:

a) Bank guarantee: Rs. 109.09 Lacs

b) Outstanding Forward Contract : US $ 120.00 Lacs,

c) Outstanding LC : US $ 445.30 Lacs

d) The company has not deposited following statutory dues on account of dispute and for which preferred an appeal:

Amount in Period to Name of the statute Rs which amount Forum where pending related

Income Tax Act 25,49,381 2003-2004 Commissioner Income Tax Appeal

Income Tax Act 47,61,011 2005-2006 Commissioner Income Tax Appeal

Income Tax Act 2,84,200 2006-2007 Commissioner Income Tax Appeal

Income Tax Act 31,98,476 2007-2008 Commissioner Income Tax Appeal

Income Tax Act 480 2008-2009 Commissioner Income Tax Appeal

Income Tax Act 8,83,47,850 2010-2011 Commissioner Income Tax Appeal

Central Sales Tax 72,421 2008-2009 Commercial Tax Act Appellate Tribunal

Commercial Tax 75,787 2005-2006 Commercial Tax Appellate Tribunal

Entry Tax Act 6,47,515 2005-2006 Commercial Tax Appellate Tribunal

Entry Tax Act 8,09,479 2006-2007 Appeal with High Court

Entry Tax Act 19,26,899 2007-2008 Commercial Tax Appellate Tribunal

Entry Tax Act 11,66,811 2008-2009 Commercial Tax Appellate Tribunal

Entry Tax Act 2,92,16,695 2009-2010 Commercial Tax Appellate Tribunal

Entry Tax Act 2,81,02,301 2010-2011 Commercial Tax Appellate Tribunal

M.P. VAT Act 51,245 2006-2007 Commercial Tax Appellate Tribunal

M.P. VAT Act 95,707 2006-2007 Appeal with High Court

M.P. VAT Act 44,012 2007-2008 Commercial Tax Appellate Tribunal

M.P. VAT Act 1,02,55,273 2008-2009 Commercial Tax Appellate Tribunal

M-P- VAT Act 2,70,59,946 2011-2012 Addl. Commissoner CT

Entry Tax Act 1,36,80,982 2011-2012 Addl. Commissoner CT

Central Sales Tax 2,21,185 2011-2012 Addl. Commissoner CT Act

6. Capital Commitment: The total capital commitment of the company during the year amounted to Rs. 10,000 lacs.

7. Sundry Debtors/Loans and Advances: In the opinion of the board of directors of the company, the current asserts, loans and advances have the value on realisation in the ordinary course of the business at least equal to the amount at which they are stated and that the provisions for all the known liabilities are adequate and not in excess of the amount reasonably necessary.

8. Prior Period Items: An amount of Rs. 100.48 lacs charged to profit and loss account as pertains to previous year.

9. Sales and Cost of material includes inter unit transfers of Rs. 78,695.48 Lacs for FY 2014-2015. The relevant corresponding inter unit transfers included in the sales and cost of material for FY 2013-14 were Rs. 104,659.70 Lacs.

10. The Apex Level Committee of Promotion of Industrial Investment Growth of M.P State Govt. in their meeting dated 14.01.2008 in order to promote industrial growth and rehabilitating the sick industrial unit, has sanctioned special package to Mandideep Unit of the Company. The Mandideep unit has been given tax exemption vide Deptt. Of Commerce, Industry and Employment, Govt. Of M.P. Govt. letter dated 04.02.2008 for its existing production capacity before expansion upto 3 years and for expanded capacity for next 10 years. However, the Company has further represented the Govt. Of M.P. for allowing the exemption to entire unit and treating the entire unit as new investment as per provisions and scheme of the "Udyog Samvardhan Niti - 2004".

11. The company is under process of commissioning the Rice plant at Kirtapur - Madhya Pradesh. As the plant is not started its commercial production, therefore all the expenses irrespective of their nature are clubbed and shown as Capital Work In Process, pending for classification.

12. Previous Year's figures have been regrouped and rearranged wherever considered necessary.

13. Amounts have rounded off to the nearest rupee.

14. The company has only exclusively dealing in agriculture based business i.e. Solvent Extraction, Refining, Rice Mill, Food Grains such as Rice, Wheat etc and Other Oils.


Mar 31, 2014

A) Rights, preferences and restrictions attached to shares

Equity shares: The company has one class of equity shares having a par value of Re. 1 per share. Each shareholder is eligible for one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all distribution of all preferential amount, in proportion to their shareholding.

c) Shares in the company held by its holding company and subsidiaries of holding company in aggregate:- Nil

d) Details of equity shares held by shareholders holding more than 5% shares of the aggregate shares in the Company

Note : The company on 8th April 2011 has alloted 17,40,25,000 equity shares of Rs. 1/- each as fully paid up Bonus Shares in the ratio of 1:1 to existing shareholders by capitalising the free reserves. Shares bouaht back durina the Deriod of five vears immediatelv Drecedina the reDortina date:

The company has recognised the deferred tax assets and deferred tax liability according to the Accounting Standard 22 "Taxes on Income" issued by the Institute of Chartered Accountants of India. The net of Deferred tax adjustments for the year ended on 31st March, 2014 resulted into the reversal of Deferred Tax Liability of Rs. 83.46 lacs duly accounted for in the Profit & Loss Account of the company and adjusted from the opening balance of Deferred Tax Liability.

The company has to comply with the Accounting Standard -15 (AS-15) on "Accounting for retirement benefits in the Financial Statements of Employers". The retirement benefit costs (Gratuity Provision) have not been determined by the Management; however Company was provided Rs.20.30 lacs as Gratuity Provision in the books of Accounts up to F.Y. 2013-2014 consequently disclosed in the financial statements.

1. The company has dispatch the letters its vendor for obtaining their status of Micro, Small or Medium enterprises as per the Micro, Small or Medium Enterprises Development Act 2006, however no response or reply received from the vendor in this respect. Therefore in absence of information from suppliers about their status as Small Scale Industrial Undertakings, the company unable to give information about the outstanding dues of such undertakings.

2. Balances with Sundry Creditors, Sundry Debtors, Loans and Advances are subject to confirmation/ reconciliation.

PROFIT & LOSS ACCOUNT

1. Corporate Information:- Sanwaria Agro Oils Limited. (the company) Is a public company domicile in India an incorporate under the provision of Companies Act 1956 is shares are listed on the Bombay stock exchange (BSE) and National Stock Exchange (NSE). The company is engaged in the manufacturing and selling of Oils seeds (mainly soybean) and crude edible oil, selling of De-oil Cake and crude/ refined oil and generation.

2. Basis of preparation of financial statement:- The financial statements of the company have been prepared to comply in all material respects with the notified accounting standards by the company's (accounting standards) Rule 2006 and relevant provision of the company's act 1956. The financial statements are prepared on historical cost convention on an accrual basis. The accounting policies have been consistently applied by the company.

1. Contingent Liabilities:

a) Bank guarantee: Rs. 838.00 lacs. b) Outstanding Forward Contract : US $136,44,500 c) Outstanding LC : US $ 63,21,870 d) The company has not deposited following statutory dues on account of dispute and for which preferred an appeal:

Name of the statute Amount in Period to Rs. which the amount related

Income Tax Act 819,272 2002-2003

Income Tax Act 2,549,381 2003-2004

Income Tax Act 4,761,011 2005-2006

Income Tax Act 1,331,100 2006-2007

Income Tax Act 3,198,476 2007-2008

Income Tax Act 480 2008-2009

Central Sales Tax Act 72,421 2008-2009

Commercial Tax 75,787 2005-2006

Entry Tax Act 647,515 2005-2006

Entry Tax Act 809,479 2006-2007

Entry Tax Act 1,926,899 2007-2008

Entry Tax Act 1,166,811 2008-2009

Entry Tax Act 29,216,695 2009-2010

Entry Tax Act 32,977,721 2010-2011

M.P. VAT Act 51,245 2006-2007

M.P. VAT Act 95,707 2006-2007

M.P. VAT Act 44,012 2007-2008

M.P. VAT Act 10,255,273 2008-2009

Name of the statute Forum where pending Income Tax Act Pending at CIT

Income Tax Act Pending at CIT

Income Tax Act Commissioner Income Tax Appeal

Income Tax Act Commissioner Income Tax Appeal

Income Tax Act Commissioner Income Tax Appeal

Income Tax Act Commissioner Income Tax Appeal

Central Sales Tax Act Commercial Tax Appellate Tribunal

Commercial Tax Commercial Tax Appellate Tribunal

Entry Tax Act Commercial Tax Appellate Tribunal

Entry Tax Act Appeal with High Court

Entry Tax Act Commercial Tax Appellate Tribunal

Entry Tax Act Additional Commissioner

Entry Tax Act Commercial Tax Appellate Tribunal

Entry Tax Act Commercial Tax Appellate Tribunal

M.P. VAT Act Commercial Tax Appellate Tribunal

M.P. VAT Act Appeal with High Court

M.P. VAT Act Commercial Tax Appellate Tribunal

M.P. VAT Act Commercial Tax Appellate Tribunal

2. Capital Commitment:- The total capital commitment of the company during the year amounted to Rs. 10,000 lacs (Previous year Rs. 5000 lacs).

3. Sundry Debtors/Loans and Advances:- In the opinion of the board of directors of the company, the current asserts, loans and advances have the value on realisation in the ordinary course of the business at least equal to the amount at which they are stated and that the provisions for all the known liabilities are adequate and not in excess of the amount reasonably necessary.

4. Foreign Currency Transactions:- The Company has recognised Rs. 147.21 Lacs as foreign exchange fluctuation loss (net) in the Financial Statement during the financial year 2013-2014.

5. Prior Period Items:- An amount of Rs. 426.52 lacs charged to profit and loss account as pertains to previous year.

6. Sales and cost of material includes inter unit transfers of Rs. 44,659.70 Lacs for FY 2013-2014. The relevant corresponding inter unit transfers included in the sales and cost of material for FY 2012-13 were Rs. 35,997.09 Lacs.

7. The Apex Level Committee of Promotion of Industrial Investment Growth of M.P State Govt. in their meeting dated 14.01.2008 in order to promote industrial growth and rehabilitating the sick industrial unit, has sanctioned special package to Mandideep Unit of the Company. The Mandideep unit has been given tax exemption vide Deptt. Of Commerce, Industry and Employment, Govt. Of M.P. Govt. letter dated 04.02.2008 for its existing production capacity before expansion upto 3 years and for expanded capacity for next 10 years. However, the Company has further represented the Govt. Of M.P. for allowing the exemption to entire unit and treating the entire unit as new investment as per provisions and scheme of the "Udyog Samvardhan Niti - 2004".

8. Managerial Remuneration: (Amount in Lacs)

9. The company has undertaken following transactions with the related parties in terms of Accounting Standard- 18 "Related Party Disclosures":

Basic earnings per share is calculated by dividing the net profit for the period attributable to equity shareholders (net profit for the period less dividend and tax thereof on preference shares) by the weighted average number of equity shares outstanding during the period.

For the purpose of calculating diluted earnings per share, the net profit attributable to equity shareholders and the weighted average number of shares outstanding are adjusted for the effects of all diluted potential equity shares and options on un-issued share capital.

12. Previous Year's figures have been regrouped and rearranged wherever considered necessary.

13. Amounts have rounded off to the nearest rupee.

14. The company has sold its power generation segment to its subsidiary company M/s Sanwaria Energy Limited against the allotment of fully paid up equity shares. Now the company has only exclusively dealing in agriculture based business i.e. Solvent Extraction, Refining, Rice Mill, Food Grains such as Rice, Wheat etc and Other Oils.


Mar 31, 2013

1. Corporate Information:- Sanwaria Agro Oils Limited. (the company) Is a public company domicile in India an incorporate under the provision of Companies Act 1956 is shares are listed on the Bombay stock exchange (BSE) and National Stock Exchange (NSE). The company is engaged in the manufacturing and selling of Oils seeds (mainly soybean) and crude edible oil, selling of De-oil Cake and crude/ refined oil and generation and selling of wind power.

2. Basis of preparation of financial statement;- The financial statements of the company have been prepared to comply in all material respects with the notified accounting standards by the company''s (accounting standards) Rule 2006 and relevant provision of the company''s act 1956. The financial statements are prepared on historical cost convention on an accrual basis. The accounting policies have been consistently applied by the company.

3. Contingent Liabilities:

a) Bank guarantee: Rs. 5.93 Crs.

b) The company has following statutory dues on account of dispute, with the various statute.

4. Capital Commitment: The total capital commitment of the company during the year amounted to Rs. 5000 lacs (Previous year Rs. 2000 lacs).

5. Sundry Debtors/Loans and Advances: In the opinion of the board of directors of the company, the current asserts, loans and advances have the value on realisation in the ordinary course of the business at least equal to the amount at which they are stated and that the provisions for all the known liabilities are adequate and not in excess of the amount reasonably necessary.

6. Foreign Currency Transactions: The Company has recognised Rs. 905.30 lacs. as foreign exchange fluctuation loss in the Financial Statement during the financial year 2012-2013.

7. Prior Period Items : Previous Year''s expenses amounting to Rs. 41.09 lacs have been charged to Prior Period Expenses.

8. Sales and cost of material includes inter unit transfers of Rs. 35,997.09 Lacs for FY 2012-2013. The relevant corresponding inter unit transfers included in the sales and cost of material for FY 2011-12 were Rs. 43,885.36 Lacs.

9. The Apex Level Committee of Promotion of Industrial Investment Growth of M.P State Govt. in their meeting dated 14.01.2008 in order to promote industrial growth and rehabilitating the sick industrial unit, has sanctioned special package to Mandideep Unit of the Company. The Mandideep unit has been given tax exemption vide Deptt. Of Commerce, Industry and Employment, Govt. Of M.P. Govt. letter dated 04.02.2008 for its existing production capacity before expansion upto 3 years and for expanded capacity for next 10 years. However, the Company has further represented the Govt. Of M.P. for allowing the exemption to entire unit and treating the entire unit as new investment as per provisions and scheme ofthe "Udyog Samvardhan Niti - 2004".

10. Previous Year''s figures have been regrouped and rearranged wherever considered necessary.

11. Amounts have rounded off to the nearest rupee.


Mar 31, 2012

A) Rights, preferences and restrictions attached to shares

Equity shares: The Company has one class of equity shares having a par value of Rs. 1 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders at the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amount, in proportion to their shareholding.

Note:- The Company on 16th November, 2011 has approved Buy Back of the Company's own fully paid up equity shares ofRs. l/-each to the extent of 10% of the paid up equity capital and free reserves of the Company and such Buy-Back of equity shares in the financial year shall not exceed 25% of the paid up share capital of the Company at a price not exceeding Rs. 40/- per equity share (Maximum Offer Price ) and the total amount of consideration not exceeding Rs. 16,98,37,187'-(Rupees Sixteen Core Ninety Eight Lakhs Thirty Seven Thousand One hundred Eighty Seven only).

The Company has recognised the deferred tax assets and deferred tax liability according to the Accounting Standard 22 "Taxes on Income" issued by the Institute of Chartered Accountants of India. The net of Deferred tax adjustments for the year ended on 31st March, 2012 resulted into the Reversal of Deferred Tax Liability ofRs. 83.98 lacs duly provided for in the Profit & Loss Account of the Company and adjusted from the opening balance of Deferred Tax Liability.

The Company has to comply with the Accounting Standard - 15 (AS-15) on "Accounting for retirement benefits in the Financial Statements of Employers". The retirement benefit costs (Gratuity Provision) have not been determined by the Management; however Company was provided Rs. 20.30 lacs as Gratuity Provision in the books of Accounts up to F.Y. 2011-2012 consequently disclosed in the financial statements.

1. The Company has dispatch the letters its vendor for obtaining their status of Micro, Small or Medium enterprises as per the Micro, Small or Medium Enterprises Development Act 2006, however no response or reply received from the vendor in this respect. Therefore in absence of information from suppliers about their status as Small Scale Industrial Undertakings, the Company unable to give information about the outstanding dues of such undertakings.

2. Balances with Sundry Creditors, Sundry Debtors, Loans and Advances are subject to confirmation/ reconciliation.

1. Corporate Information:- Sanwaria Agro Oils Limited, (the Company) Is a public Company domicile in India an incorporated under the provision of Companies Act 1956 its shares are listed on the Bombay stock exchange (BSE) and National Stock Exchange (NSE). The Company is engaged in the manufacturing and selling of Oils seeds (mainly soybean) and crude edible oil, selling of De-oil Cake and crude/ refined oil and generation and selling of wind power.

2. Basis of preparation of financial statement:- The financial statements of the Company have been prepared to comply in all material respects with the notified accounting standards by the Company's (accounting standards) Rule 2006 and relevant provision of the Company's act 1956. The financial statements are prepared on historical cost convention on an accrual basis. The accounting policies have been consistently applied by the Company.

1. Contingent Liabilities:

a) Bank guarantee: Rs. 1.47 Crs.

b) Total Letter of Credit (LC) Open:-Rs.1171.69 Crs.

c) The Company has not deposited following statutory dues on account of dispute and for which preferred an appeal:

2. Capital Commitment:

The total capital commitment of the Company during the year amounted to Rs. 20,000 lacs (Previous year Rs. 20,000 lacs).

3. Sundry Debtors/Loans and Advances:

In the opinion of the board of directors of the Company, the current asserts, loans and advances have the value on realisation in the ordinary course of the business at least equal to the amount at which they are stated and that the provisions for all the known liabilities are adequate and not in excess of the amount reasonably necessary.

4. Foreign Currency Transactions:

The Company has recognised Rs. 2438.21 lacs, as foreign exchange fluctuation loss in the Financial Statement during the financial year 2011 -2012.

5. Prior Period Items:

Previous Year's expenses amounting to Rs. 10.77 lacs have been charged to Prior Period Expenses.

6. Sales and cost of material includes inter unit transfers of Rs. 43,885.36 Lacs for FY 2011-2012. The relevant corresponding inter unit transfers included in the sales and cost of material for FY 2010-11 were Rs. 66,078.46 Lacs.

7. The Apex Level Committee of Promotion of Industrial Investment Growth of M.P State Govt, in their meeting dated 14.01.2008 in order to promote industrial growth and rehabilitating the sick industrial unit, has sanctioned special package to Mandideep Unit of the Company. The Mandideep unit of the Company has been given VAT & CST exemption for 10 years and Entry Tax 5 Years vide letter No. F-16/30/06/B/eleven dated 04.02.2008 by Commerce, industries and Employment Department, Govt, of Madhya Pradesh under Investment Promotion Assistance under Industrial Policy 2004.

ii. Remuneration and fees paid to Directors is disclosed elsewhere in the notes to accounts.

Basic earnings per share is calculated by dividing the net profit for the period attributable to equity shareholders (net profit for the period less dividend and tax thereof on preference shares) by the weighted average number ofequity shares outstanding during the period.

For the purpose of calculating diluted earnings per share, the net profit attributable to equity shareholders and the weighted average number of shares outstanding are adjusted for the effects of all diluted potential equity shares and options on un-issued share capital.

The Company has issue Bonus Shares to Equity Shareholders in the ratio of 1:1 during the year. The EPS of FY 2010-2011 is recalculated by adjusting the number of outstanding shares of previous year.

8. Previous Year's figures have been regrouped and rearranged wherever considered necessary.

9. Amounts have rounded off to the nearest rupee.

NOTES

(1) The Company's Corporate strategy aims at creating multiple drivers of growth anchored on its core competencies. The Company's organizational structure and governance processes are designed to support effective management of multiple businesses while retaining focus on each one of them.

The Company focused on two business segment:

Solvent Extraction & Refining: - Processing, Extraction and Refining of Soy a seed and Soya refined oil and trading.

Power GenerationPower Generation through Wind Electric Generators (WEG). till 31st March 2012


Mar 31, 2010

1. Contingent Liabilities:

a) Bank guarantee: Rs. 173.45 lacs.

b) The company has not deposited following statutory dues on account of dispute and for which preferred an appeal:

Name of the statute Amount (in Rs.) Period to which Forum where pending

the amount related

Income Tax 34.835 Block Asscssmcnt Income Tax Appellate Tribunal

Income tax 16.42.329 2000-2001 Income Tax Appellate Tribunal

Income tax 2.91.124 2001-2002 Assistant Commissioner Income Tax

Income tax 32.48,735 2002-2003 Assistant Commissioner Income Tax

Income lax 6.25.366 2003-2004 Assistant Commissioner Income Tax

Income tax 3.31.88.265 2004-2005 Income Tax Appellate Tribunal

Incomc Tax 64.48.850 2005-2006 Income Tax Appellate Tribunal

Income Tax 12.63.102 2006-2007 Income Tax Appellate Tribunal

1 MP Vat Act 91.78.240 2004-2005 Commercial Tax Appellate Tribunal Central Sales Tax Act 1.337

MP Vat Act 3.70.70.693 2005-2006 Commercial Tax Appellate Tribunal

Central Sales Tax Act 5241.763 2006-2007

Entry Tax Act33.73.329

2. Figures shown in the financial statements have been rounded off to the nearest rupee.

3. Share Capital:- Pursuant to the resolution passed at Annual General Meeting held on 30th September 2009. the Authorised Share Capital of the company has been increase by me sum of Rs. 1,00,00,000- divided into 1.00.00.000 Equitv Shares of Rs. 1 each.

4. The Board of Directors had proposed 20% interim and final dividend to the shareholders whose names were appearing in the register of members on the record date. The suitable provision for payment of dividend to equity shareholders and dividend tax has been made.

5. Capital Commitment: The total capital commitment of the company during the year amounted to Rs. 10000 lacs (Previous year Rs. 10,000 lacs).

6. Sundry Debtors/Loans and Advances: In the opinion of the board of directors of the company, the current asserts. loans and advances have the value on realisation in the ordinary course of the business at least equal to the amount at which they are stated and that the provisions for all the known liabilities are adequate and not in excess of the amount reasonably necessary.

7. Balances with Sundry Creditors. Sundry Debtors, Loans and Advances are subject to confirmation/ reconciliation.

8. Prior Period Items:

Prev ious Years expenses amounting to Rs. 19.38.935/- have been charged to Prior Period Expenses.

9. The Itarsi Unit of the Company has been given Sales Tax exemption vide letter No. 93 dated 24/12/1998 from District Business & Industrial Centre, Hoshangabad. The company has given status of EOU" and allowed Sales Tax Exemption from 01.08.1998 for 250% of Capital Investment as sales Tax Exemption. The company has applied for exemption under Thrust Sector to State Government. Therefore there is no liability towards M.P. Commercial Tax and Central Sales Tax Act for sales produced by solvent extraction plant up to 31 st July 2009. From 1st August 2009 Company has recognized and paid MP VAT Tax. Central Sales Tax and Entry Tax liability in accordance with the applicable Acts.

10. The company has to comply with the Accounting Standard -15 (AS-15) on "Accounting for retirement benefits in the Financial Statements of Employers". The retirement benefit costs (Gratuity Provision) have not been determined by the Management; however Company was provided Rs.20 lacs as Gratuity Provision in the books of Accounts up to F. Y. 2008-2009 consequently disclosed in the financial statements.

11. Packing Credit in Foreign Currency (PCFC) loan from Standard Chartered Bank. Bhopal has been accounted for in terms of Indian Rupees at exchange rate prevailing on the date of a ailment and outstanding on balance sheet date has been provided at the exchange rate relevant to balance sheet date. The difference on account of exchange fluctuation of Rs. 78.58 lacs on the balance sheet date have been credited to profit and loss account included in the bank commission and charges.

12. The company has incurred profit of Rs. 151.43 Lacs due to hedging in foreign exchange for exports of DOC Soyameal and has been recognized in Other Income to that extant.

13. Sales and cost of material includes inter unit iransfers of Rs. 31673.20 Lacs for FY 2009-10. The relevant corresponding inter unit transfers included in the sales and cost of material for FY 2008-09 were Rs. 30.224.61 Lacs.

14. The Mandideep Unit of the Company has been given Sales Tax exemption vide letter No. I /FA (5)/92 241 dated 07-06-2005 of Directorate of Industries. Bhopal. from 30.03.2005 to 08.05.2008. The Company has applied for further Exemption to State Appellate Forum. Therefore, there is no liability has been recognized towards M.P. Commercial Tax and Central Sales Tax Act for sales produced by the unit.

15. The company has dispatch the letters its vendor for obtaining their status of Micro, Small or Medium enterprises as per the Micro, Small or Medium Enterprises Development Act 2006. however no response or reply received from the vendor in this respect. Therefore in absence of information from suppliers about their status as Small Scale Industrial Undertakings, the company unable to give information about the outstanding dues of such undertakings.

16. The Board of Directors has estimated Rs.4.00.000/- as payment of Bonus to Employees for the year 2009-10.

Note: i. The name of related parties with the nature of relationship:

Associates Relatives

M/s Nathuram Shrinarayan. Ttarsi Ramnarayan Agrawal HUP

M/s Ashok Pall & Oil Mills. Itarsi Satish Kumar Agrawal HUF

M/s N. S. Corporation, Itarsi Ashok Kumar Agrawal HUF

M/s Shrinathji Warehousing Corpo.. Itarsi Gulabchand Agrawal HUF

M/s R.N. & Sons. Itarsi Anil Agrawal HUF

M./s Sanwaria Foods Ltd.. llarsi Smt. Geetadevi Agrawal

M/s Sanwaria Globfin Private Limited. Itarsi Smt. Anju Agrawal

M/s Sanwaria Energy Ltd., Bhopal Smt. Sadhna Devi Agrawal

M/s Sanwaria Infrastructure Ltd., Bhopal Ms. Sonu Agrawal

Shri Rajul Agrawal Key Management Personnel Shri Ashulush Agrawal

Shri R. N. Agarwal. Chairman Shri Abhishek Agrawal

Shri Satish Agarwal. Director

Shri Ashok Agarwal. Pirector Subsidiary Companies

Shri Gulab ChandAgarwal, Director M/s Shrinathji Solvex Ltd.. Harda

Shri Anil Agrawal. Director

ii. Remuneration and fees paid to Directors is disclosed elsewhere in the notes to accounts.

NOTES

(1) The Companys corporate strategy1 aims at creating multiple drivers of growth anchored on its core competencies. The Companys organizational structure and governance processes are designed to support effective management of multiple businesses while retaining focus on each one of them.

The Company is currently focused on two business segment:

Solvent Extraction & Refining :- Processing, Extraction and Refining of Soya seed and Soya refined oil and trading.

Power Generation :- Power Generation through Wind Electric Generators (WEG).

17. The company has recognised the deferred tax assets and deferred tax liability according to the accounting Standard 22 "Taxes on Income" issued by the Institute of Chartered Accountants of India. The net of Deferred tax adjustments for the year ended on 31" March. 2010 resulted into the Deferred Tax Liability of Rs. 459.29 lacs duly provided for in the Profit & Loss Account of the company and adjusted from the opening balance of Deferred Tax Liability.

18. Previous Years figures have been regrouped and rearranged wherever considered necessary.

19. Amounts have rounded off to the nearest rupee.

 
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