Mar 31, 2015
The Company was incorporated on January 20th, 1988, having its
registered office at plot No.39-A2, Industrial Area, Chokkahalli,
Hosakote - 562114 and corporate office at- 1/104, Ahuja Chambers,
Kumara Krupa Road, Bangalore - 560 001. The company is primarily
engaged in the business of Manufacturers of Wheat Products and Dealers
in Wheat and Wheat Products.
2. Corporate information
The Company was incorporated on January 20th, 1988, having its
registered office at plot No.39-A2, Industrial Area, Chokkahalli,
Hosakote - 562114 and corporate office at - 1/104, Ahuja Chambers,
Kumara Krupa Road, Bangalore - 560 001, The company is primarily
engaged in the business of Manufacturers of Wheat Products and Dealers
in Wheat and Wheat Products.
3. Change in Accounting Estimate
During the FY2014-15 company has adopted useful life of the asset
mentioned in Part C to Scheduel II of Companies Act 2013. In the
earlier year company was following Scheduel VI of Companies Act 1956
for calculation depreciation on tangible asset. Since there is a change
in the useful life of the asset during the year compare to previous
year, the change is treated as accounting estimate. The effect of
change in accounting estimate on statement of profit and loss be there
for current financial year as well as future financial year. After
applying the principle lied down in Scheduel II of Companies Act 2013,
Rs.98,10,474 is debited to statement of profit and loss and
Rs.34,38,488 being depreciation adjusted in reserves.
4. Contingent liabilities and commitments (to the extent not provided
for)
Particulars As at 31 st March, As at 31st March,
2015(Rs) 2014 (Rs.)
A. Contingent liabilities
(a) Claims against the company
not acknowledged as debt - -
(b) Guarantees 2,00,000 2,00,000
(c) Company has received a show cause
notice from central exercise
department. As per show cause notice
the total demand quantified by the
department is Rs. 1,95,51,297/- plus
interest and penalty.
Company has replied for the above show
cause notice.The matter is yet to come
from personal hearing.
Company has been advised that company h
as strong prima facie case. Accordingly
it has not made any provision for this
liability in the financial statements.
B. Commitments
(a) Estimated amount of contracts remianing to
be executed on capital account and not
provided for (net of advances) 70,65,152 1,55,52,938
(b) Uncalled liability on shares and other - -
investments partly paid
-
5. Company has filed suit for recovery of money from debtors. Company
is confident of obtaining favourable verdict and recovery of money.
Hence Company has not made any provision on the debtors.
6. Related parties
(i) Names of related parties and description of relationship with the
Company
1 Key Managerial Personnel Sri. B Shanthilal
Sri. Pramod Kumar S
Sri. AVS Murthy
Smt. Pinky Jain
Sri. Shailesh Siroy
2 Enterprise with significant Brindavan Roller Flour Mills Private
influence and Limited
Sryshti Pharmaceuticals Private Limited
Mysore Vegetable Oil Products Limited
Mysore Snacks Foods Limited
Kithur Channamma Roller Flour Mills
Private Limited
Alampalli Investments Private Limited
Krishna Industries Private Limited
Bal Pharma Limited
BRFM India Private Limited
Brindavan Softland Private Limited
Sunil AG
7. Obligation on longterm, non-cancellable operating lease:
As lessor: The company has entered into non-cancelable operating lease
for letting the terrace space of the factory building for erecting the
mobile tower.
The brief description of the agreement is as follows:
Lease rental charges of Rs. 13,960 per months from July 1, 2006 onwards
whith a condition to increase the rent every year.
Rental income included in the Statement of Profit and Loss is Rs.
3,03,229/- towards operating lease
8. Segmented Reporting
As per Accounting Standard -17 " Segment Reporting" issued by Institute
of Chartered Accountants of India, the company should report
information based on Business Segment and Geographical Segment. It is
the perception of the management that there is only one segment and it
is viewed as a whole. However information is disclosed to the extent
possible.
9. Employee Benefit Plan Gratuity
In accordance with Accounting Standard 15 actuarial valuation based on
projected unit credit method as on 31st March 2015 has been carried out
in respect of the aforesaid defined benefit plan of Gratuity, the
details thereon is given below:
10. Employee Benefit Plan Leave Encashment
In accordance with Accounting Standard 15 actuarial valuation based on
projected unit credit method as on 31 st March 2015 has been carried
out in respect of the aforesaid defined benefit plan of Leave
Encashment, the details thereon is given below:
11. Defined contribution plans
The company has recognised, in the Statement of Profit and loss for the
year year ended March 31, 2015 an amount of Rs. 13,05,186/-
(Previous year.12,34,823/- under defined contribution plans
12. Micro, Small or Medium Enterprises
(a) with the company, there is no dues to Small Scale Undertaking in
excess of Rs.1,00,000/- and outstanding for more than 30 days.
(b) Based on the information available with the company, there are no
suppliers who are registered as Micro, Small or Medium Enterprises as
per Micro, Small and Medium Enterprises Development Act, 2006 as at
March 31,2015.
13. The previous years figures have been regrouped/restated wherever
necessary to conform to this year's classification.
Mar 31, 2014
1. Corporate information
The Company was incorporated on January 20th, 1988, having its
registered office at plot No.39-A2, Industrial Area, Chokkahalli,
Hosakote - 562114 and corporate office at - 1/104, Ahuja Chambers,
Kumara Krupa Road, Bangalore - 560 001. The company is primarily
engaged in the business of Manufacturers of Wheat Products and Dealers
in Wheat and Wheat Products.
2. Contingent liabilities and commitments (to the extent not provided
for)
Particulars As at 31st As at 31st
March, 2014 March, 2013
(Rs) (Rs)
A. Contingent liabilities
(a) Claims against the company not
acknowledged as debt - -
(b) Guarantees 2,00,000 2,00,000
B. Commitments
(a) Estimated amount of contracts
remianing to be executed on capital
account and not provided
for (net of advances) 1,55,52,938 1,46,75,850
(b) Uncalled liability on shares
and other investments
partly paid - -
The following are the guarantees given by the banks to the parties on
behalf of the company which are in force as on March 31,2012.
Name of the Bank Party to whom the guarantee given Amount (Rs)
State Bank of Bikaner Collector of Customs 2,00,000
& Jaipur
3. Related party disclosure
(i) Names of related parties and description of relationship with the
Company
1 Key Managerial Personnel Sri. B Shanthilal
Sri. Pramod Kumar S
Sri. AVS Murthy
Smt. Pinky Jain
Sri. Shailesh Siroya
Smt. Kamala Bai
2 Enterprise with significant Brindavan Roller Flour
influence and Mills Private Limited
fellow subsidiary
Sryshti Pharmaceuticals Private Limited
Mysore Vegetable Oil Products Limited
Mysore Snacks Foods Limited
Kithur Channamma Roller Flour
Mills Private Limited
Alampalli Investments Private Limited
Krishna Industries Private Limited
Bal Pharma Limited
BRFM India Private Limited
Brindavan Softland Private Limited
Sunil AG
4. Obligation on longterm, non-cancellable operating lease:
As lessor : The company has entered into non-cancelable operating lease
for letting the terrace space of the factory building for erecting the
mobile tower.
The brief description of the agreement is as follows:
Lease rental charges of Rs.13,960 per months from July 1,2006 onwards
whith a condition to increase the rent every year.
Rental income included in the Statement of Profit and Loss is
Rs.3,05,264/- towards operating lease
5 Segmented Reporting
As per Accounting Standard - 17 "Segment Reporting" issued by Institute
of Chartered Accountants of India, the company should report
information based on Business Segment and Geographical Segment. It is
the perception of the management that there is only one segment and it
is viewed as a whole. However information is disclosed to the extent
possible.
6. Micro, Small or Medium Enterprises
(a) Based on the information available with the company, there is no
dues to Small Scale Undertaking in excess of Rs.1,00,000/- and
outstanding for more than 30 days.
(b) Based on the information available with the company, there are no
suppliers who are registered as Micro, Small or Medium Enterprises as
per Micro, Small and Medium Enterprises Development Act, 2006 as at
March 31,2014.
7. The previous years figures have been regrouped/restated wherever
necessary to conform to this year''s classification.
Mar 31, 2012
1. CORPORATE INFORMATION
The company was incorporated on January 20th, 1998, having its
registered office at Plot No. 39-A2, Industrial Area, Chokkahalli,
Hosakote - 562114 and corporate office at -1/104, Ahuja Chambers,
Kumara Krupa Road, Bangalore - 560 001. The company is primarily
engaged in the business of Manufacturers of Wheat Products and Dealers
in Wheat & Wheat Products.
GENERAL NOTES
1. Immovable Properties
a During the earlier years the company constructed the factory on free
hold land measuring 6693 sq meters at No.39-A2, Hoskote Industrial
Area, Chokkahally, Hoskote - 562 114.
b. During the year 2000 - 2001, the company purchased 4745 sq meters
at Plot N0.8D, Kadugodi Industrial area, Krishna raja puram taluk,
Bangalore south district.
c. During the year 2000 - 2001, the company purchased the plot at
No.4C, Hoskote, Bangalore rural district measuring 8071 Sq meters
together with building and structure for Rs.27,00,000/- from Karnataka
State Financial Corporation.
d. In the earlier years the company purchased vacant sites at No.38 &
39 to the extent of 3729 Sq Feet at Chokkahalli Kasaba, Hoskote,
Bangalore Rural District for Rs. 1,06,970/- and has constructed a
residential building.
e. During the year 2004 - 2005, the company has purchased land at
Mavalli Village Sy No.535, Marasur Village, Kasaba Hobli, Anekal Taluk,
Bangalore District measuring 2620 Sq feet for Rs.4,22,025/-.
2. Investment in Immovable Properties:
a In the earlier years, the company purchased and took possession of
830 Sq Feet of residential flat at WH 204, II floor, Dharma Block, Sai
Gardens, Whitefield, Bangalore and disclosed it as investments in
immovable property as the company is not intended to be occupied
substantially for use by to in the operations of the company.
b In the Financial Year 2008 - 2009, the company purchased residential
flat at WH 201, II floor, Dharma Block, Sai Gardens, Whitefield,
Bangalore and disclosed it as investments in immovable property as the
company is not intended to be occupied substantially for use by to in
the operations of the company.
c During the year 2011-12, the company has purchased land at Survey No.
92/4, 93/3, 93/4, 93/5, Chollappanahalli Village, Kasaba Hobli, Hoskote
Taluk, Bangalore District measuring 2393 Sq Feet for Rs.7,23,466/- and
disclosed it as investments in immovable property as the company is not
intended to be occupied substantially for use by to in the operations
of the company.
3 Segment Reporting
As per Accounting Standard -17 " Segment Reporting" issued by
Institute of Chartered Accountants of India, the company should report
information based on Business Segment and Geographical Segment. It is
the perception of the management that there is only one segment and it
is viewed as a whole. However information is disclosed to the extent
possible.
4 Related party disclosure
As required under "Accounting Standard -18", issued by Institute of
Chartered Accountants of India, the Company has disclosed the
transaction with related parties effected during the financial year
2011 - 2012.
5 Obligation on Long term, non-cancelable Operating Lease:
a. As Lessor
The company has entered into non-cancelable operating lease with Bharti
Airtel Limited for letting the terrace space of the factory building
for erecting the mobile tower. The brief description of the agreement
is as follows:
- Lease agreement entered on July 1, 1996 was expired on June 30, 2006.
- The above agreement is renewed for another ten years from July 1,
2006 to June 30, 2016 on the following terms and conditions
* Lease rental charges of Rs.13,960 per month from July 1, 2006
Onwards.
* Lease rental will be enhanced by 10% on the last paid rent for every
completed three years.
- Rent income included in Profit and Loss account is Rs.287190 towards
operating lease.
6 Accounting for Taxes on Income
Consequent to the standard on 'Accounting for Taxes on Income'
(Accounting Standard - 22) becoming mandatory with effect from 1st
April 2001, the company has created Rs.7,36,181/- as deferred tax
liability.
7 Contingent Liabilities and Commitments (To the extent not provided
for)
Amount (In Rs)
Particulars For the
year ended For the
year ended
March 31,2012 March 31,2011
(i) Contingent Liabilities
(a) Claims against the company
not acknowledged as debt - -
(b) Guarantees 2,00,000 2,00,000
(c) Other money for which the
company is contingently liable 2,00,000 2,00,000
(ii) Commitments
(a) Estimated amount of contracts
remaining to be executed on capital
account and not provided for 1,37,72,943 -
(2,70,000 USD @ Rs.51.0109 / USD)
(b) Uncalled liability on shares
and other investments partly paid - -
(c) Other commitments (specify
nature) - -
1,37,72,943 -
Total 1,39,72,943 2,00,000
8 a. Based on the information available with the Company, there is no
dues to Small Scale Undertaking in excess of Rs.1,00,000/- and
outstanding for more than 30 days.
b. Based on the information available with the Company, there are no
suppliers who are registered as Micro, Small or Medium Enterprises as
per Micro, Small and Medium Enterprises Development Act, 2006 as at
March 31, 2012.
9 The balances under Sundry Creditors, Sundry Debtors and Loans and
advances are subject to confimation, reconciliation and ajustment, if
any.
10 Previous year figures have been reclassified / regrouped wherever
necessary to meet the requirement of Revised Schedule VI.
Mar 31, 2011
1. Details of Licensed/ Installed capacity and actual production during
the year.
Licensed Capacity Not Applicable
Installed Capacity 60000 Metric Tonnes per Annum
Actual Production-Own 43327.306 Mts (41813.177 Mts)
Customer Milling 1304.036 Mts (1090.800 Mts)
2 a. During the earlier years the company constructed the factory on
free hold land measuring 6693 sq meters at No.39 - A2, Hoskote
Industrial Area, Chokkahally, Hoskote - 562 114.
b. During the year 2000 - 2001, the company purchased 4745 sq meters
at Plot N0.8D, Kadugodi Industrial area, Krishna raja puram taluk,
Bangalore south district.
c. During the year 2000 - 2001, the company purchased the plot at
No.4C, Hoskote, Bangalore rural district measuring 8071 Sq meters
together with building and structure for Rs.27,00,000/- from Karnataka
State Financial Corporation.
d. In the earlier years the company purchased vacant sites at No.38 &
39to the extent of 3729 Sq Feet at Chokkahalli Kasaba, Hoskote,
Bangalore Rural District for Rs. 1,06,970/- and has constructed a
residential building.
e. During the year 2004 - 2005, the company has purchased land at
Mavalli Village Sy N0.535, Marasur Village, Kasaba Hobli, Anekal Taluk,
Bangalore District measuring 2620 Sq feet for Rs.4,22,025/-.
3. Investment in Residential Flat
a. In the earlier years, the company purchased and took possession of
830 Sq Feet of residential flat at WH 204, II floor, Dharma Block, Sai
Gardens, Whitefield, Bangalore and disclosed it as investments in
immovable property as the company is not intended to be occupied
substantially for use by to in the operations of the company.
b. In the Financial year 2008 - 2009, the company purchased residential
flat at WH 201, II Floor, Dharma Block, Sai Gardens, Whitefield,
Bangalore and disclosed it as investments in immovable property as the
company is not intended to be occupied substantially for use by to in
the operations of the company.
4. As per Accounting Standard -17 "Segment Reporting" issued by
Institute of Chartered Accountants of India, the company should report
information based on Business Segment and Geographical Segment. It is
the perception of the management that there is only one segment and it
is viewed as a whole. However information is disclosed to the extent
possible.
4.1 Disclosure of related parties and nature of relationship
Name of the Party Type Nature of
Relationship
Sri. B Shanthilal Individual Managing Director
Sri. Pramod Kumar S Individual Executive Director
Sri. Sunil S Jain Individual Whole time Director
Sri. AVS Murthy Individual Director
Sri. Shailesh Siroya Individual Director
Smt. Kamala Bai Individual Spouse of MD
Smt. Pinky Jain Individual Spouse of ED
Brindavan Roller Flour Company -
Mills Private Limited
Sryshti Pharmaceuticals Company -
Private Limited
Mysore Vegetable Oil Company -
Products Limited
Mysore Snacks Foods Limited Company Enterprises over which
Alampalli Investments Company individual/s indirectly
Private Limited
Krishna Industries Private Company owning an interest in
Limited
Bal Pharma Limited Company the company, exercise
Belgaum Roller Flour Mills Company the significant
Private Limited influence
Puskar Investments Private Company or control
Limited
Brindavan Softland Private Company
Limited
Sunil AG Partnership
firm
5. Obligation on Long term, non-cancelable Operating Lease:
a. As Lessor
The Company has entered into non-cancelable operating lease with
Bharathi Mobile for letting the terrace space of the factory building
for erecting the mobile tower. The brief description of the agreement
is as follows:
- Lease agreement entered on July 1, 1996 was expired on June 30, 2006.
The above agreement is renewed for another ten years from July 1, 2006
to June 30, 2016 on the following terms æ and conditions
* Lease rental charges of Rs. 13,960 per month from July 1, 2006
Onwards.
* Lease rental will be enhanced by 10% on the last paid rent for every
completed three years.
- Rent income included in Profit and Loss account is Rs.288622 towards
operating lease.
6. Earning Per Share
Earning per share is calculated as per 'Accounting Standard - 20',
issued by Institute of Chartered Accountants of India. The net profit
considered for calculation of basis earning per share before tax
expenses is Rs.59,91,662/- (Previous Year Rs.52,74,751 /-).
Earning per share is calculated as per 'Accounting Standard - 20',
issued by Institute of Chartered Accountants of India. The net profit
considered calculation of basis earning per share after tax expenses is
Rs.44,74,413/- (Previous Year Rs.50,99,140/-).
7. Accounting for Taxes on Income
Consequent to the standard on 'Accounting for Taxes on Income'
(Accounting Standard - 22) becoming mandatory with effect from 1st
April 2001, The company has reversed Rs. as deferred tax liability and
made deduction from the Profit and Loss Account.
8. Contingent Liabilities Amount (In Rs)
a. The following are the guarantees given by the banks to the parties
on behalf of the company which are in force as on March 31,2011.
Name of the Bank Party to whom the Amount
guarantee given (Rs)
State Bank of Bikaner
& Jaipur Collector of Customs 200000
9 a. Based on the information available with the Company, there is no
dues to Small Scale Undertaking in excess of Rs.1,00,000/-and
outstanding for more than 30 days.
b. Based on the information available with the Company, there are no
suppliers who are registered as Micro, Small or Medium Enterprises as
per Micro, Small and Medium Enterprises Development Act, 2006 as at
March 31,2011.
10. Figures in bracket relates to previous year.
11. Previous year figures have been reclassified regrouped wherever
necessary to confirm to the current year presentation.
Mar 31, 2010
1 Details of Licensed/ Installed capacity and actual production during
the year.
Licensed Capacity : Not Applicable
Installed Capacity : 60000 Metric Tonnes per Annum
Actual Production-Own : 41813.177 Mts (35183.245 Mts)
2 a During the earlier years the Company constructed the factory on
free hold land measuring 6693 sq meters at No.39 - A2, Hoskote
Industrial Area, Chokkahally, Hoskote - 562 114.
b. During the year 2000 - 2001, the Company purchased 4745 sq meters
at Plot N0.8D, Kadugodi Industrial area, Krishnarajapuram Taluk,
Bangalore South District.
c. During the year 2000 - 2001, the company purchased the plot at
No.4C, Hoskote, Bangalore rural district measuring 8071 Sq meters
together with building and structure for Rs.27,00,000/- from Karnataka
State Financial Corporation.
d. In the earlier years the company purchased vacant sites at No.38 &
39to the extent of 3729 Sq Feet at Chokkahalli Kasaba, Hoskote,
Bangalore Rural District for Rs. 1,06,970/- and has constructed a
residential building.
e. During the year 2004 - 2005, the company has purchased land at
Mavalli Village Sy NO.535, Marasur Village, Kasaba Hobli, Anekal
Taluk/Bangalore District measuring 2620 Sq feet for Rs.4,22,025/-.
3 Investment in Residential Flat
a In the earlier years, the company purchased and took possession of
830 Sq Feet of residential flat at WH 204, II floor, Dharma Block, Sai
Gardens, Whitefield, Bangalore and disclosed it as investments in
immovable property as the company is not intended to be occupied
substantially for use by to in the operations of the company.
b In the Financial year 2008 - 2009, the company purchased residential
flat at WH 201, II Floor, Dharma Block, Sai Gardens, Whitefield,
Bangalore and disclosed it as investments in immovable property as the
company is not intended to be occupied substantially for use by to in
the operations of the company.
4 The liability towards gratuity has been insured with LIC, under group
gratuity Scheme. Company has provided the liability for Gratuity as per
the Actuarial Valuation .The following Table provides the disclosure in
accordance with Revised AS - 15 in respect of Gratuity for the year
ended and as at March 31, 2010
5 As per Accounting Standard -17 "Segment Reporting" issued by
Institute of Chartered Accountants of India, the company should report
information based on Business Segment and Geographical Segment. It is
the perception of the management that there is only one segment and it
is viewed as a whole. However information is disclosed to the extent
possible.
6 Related party disclosure
As required under "Accounting Standard - 18", issued by Institute of
Chartered Accountants ot India, the Company has disclosed the
transaction with related parties effected during the financial year
2009 - 2010.
7 Obligation on Long term, non-cancelable Operating Lease:
a. As Lessor
The Company has entered into non-cancelable operating lease with
Bharathi Mobile for letting the terrace space of the factory building
for erecting the mobile tower. The brief description of the agreement
is as follows:
Lease agreement entered on July 1, 1996 was expired on June 30, 2006.
The above agreement is renewed for another ten years from July 1, 2006
to June 30, 2016 on the following terms and conditions
- Lease rental charges of Rs.13,960 per month from July 1, 2006
Onwards.
- Lease rental will be enhanced by 10% on the last paid rent for every
completed three years. Rent income included in Profit and Loss account
is Rs.281668 towards operating lease.
8 Earnings per share
Earning per share is calculated as per Accounting Standard - 20,
issued by Institute of Chartered Accountants of India. The net profit
considered for calculation of basis earning per share before tax
expenses is Rs.5274751 (Previous Year Rs. 6,52,379/-).
Earning per share is calculated as per Accounting Standard - 20,
issued by Institute of Chartered Accountants of India. The net profit
considered calculation of basic earning per share after tax expenses is
Rs.5099140 (Previous Year Rs.3,01,079/-).
9 Accounting for Taxes on Income
Consequent to the standard on Accounting for Taxes on Income
(Accounting Standard - 22) becoming mandatory with effect from 1st
April, 2001, The company has reversed Rs. 725424/- as deferred tax
liability and made deduction from the Profit and Loss Account
(166027/-).
10 Contingent Liabilities Amount (In Rs)
a. The following are the guarantees given by the banks to the parties
on behalf of the company which are in force as on March 31,2010.
Name of the Bank Party to whom the
guarantee given Amount (Rs)
State Bank of Bikaner
& Jaipur Collector of Customs 219132
11 a. Based on the information available with the Company, there is no
dues to Small Scale Undertaking in excess of Rs.1,00,000/- and outstanding
for more than 30 days.
b. Based on the information available with the Company, there are no
suppliers who are registered as Micro, Small or Medium Enterprises as
per Micro, Small and Medium Enterprises Development Act, 2006 as at
March 31,2010.
12 Figures in bracket relates to previous year.
13 Previous year figures have been reclassified / regrouped wherever
necessary to confirm to the current year presentation.