www.britannia.co.in sbcl 2010

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SUNRISE BISCUIT CO. PVT. LTD.

DIRECTORS REPORT

The Directors present their Twenty-Fifth Annual Report and the Audited Statement of Accountsfor the year ended 31st March 2010.

FINANCIAL RESULTS [ Rs. in lakhs ] [ Rs. in lakhs ]Year ended

March 31,2010Year ended

March 31,2009

Total Income 7064.08 3410.37

Profit before Interest & Depreciation 548.07 120.60

Less : Interest 43.13 34.21Less : Depreciation 84.66 66.24

Profit / (Loss) for the year before Tax 420.28 20.15(1) Current (MAT) 71.43 2.01

(2) Current (FBT) 0.00 1.52Provision for Tax:

(3) Deferred (3.64) 20.14

Profit / (Loss) after Tax 352.49 (3.52)

Profit/ (Loss) Brought Forward 0.00 (16.28)

Profit / (Loss) Carried Forward 352.49 (19.80)

Operations

During the year under review the total income of the company was Rs. 7064.08 lacs as againstRs. 3410.37 lacs in the previous year. The production of biscuits during the year was 14998 MTas against 11025 MT in the previous year. The profit before Tax was Rs. 420.28 lacs as againstthe profit of Rs. 20.15 lacs in the previous year. A third line of oven has been set up successfullyand the same is fully operational now.

Finance

The Company has provided Income tax [MAT] Rs. 71.43 lacs and deferred tax reversed Rs. 3.64lacs. The unsecured loan has come down from 820 lacs to Rs. 280 lacs. The Company hasturned around and the financial position. The profit after tax has increased to Rs 352.49 lacscompared to Rs. (3.52) lacs in the previous year.

Dividend

In view of the financial position and outstanding loans of the Company, your Directors do notrecommend any Dividend to the members of the Company.


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Page 2 of 5

Sunrise Biscuit Co. Pvt. Ltd. Continuous Sheet

Directors

In accordance with the requirement of the Companies Act, 1956 and Articles of Association ofthe Company, Mr. Rajesh Lal, Director retire by rotation at the forthcoming Annual generalMeeting and eligible for re-appointment.

Mr. A.K. Gupta and Mr. Raju Thomas were appointed additional Directors in June, 2009 and asper provision of Articles of Association their appointments are valid upto the date of the ensuing

Annual General Meeting. The Board has recommended their appointments to the members.

Auditors

M/s Ashok Kumar Jalan & Associates, Chartered Accountants, Guwahati who are the

Statutory Auditors of the Company, hold office, in accordance with the provisions ofthe Companies Act, 1956 (the Act), upto the conclusion of the forthcoming Annual

General Meeting. They would not be seeking re-appointment at the ensuing AnnualGeneral Meeting (AGM)The Company has received a special notice from a Member

of the Company in terms of the provisions of the Act, signifying the intention topropose the appointment of Messrs B S R & Co., Chartered Accountants, as theStatutory Auditors of the Company from the conclusion of the ensuing AGM until theconclusion of the next AGM. Messrs B S R & Co. have also expressed their

willingness to act as Auditors of the Company, if appointed, and have confirmedtheir eligibility. Members are requested to appoint Messrs B S R & Co. as Auditors at

remuneration to be fixed by the Board of Directors.

Secretarial Compliance Certificate

As required, under the Companies [Amendment] Act, 2000 read with Companies [ComplianceCertificate] Rules 2001 Secretarial Compliance Certificate for the year 2009-2010 is given in the

Annexure A forming the part of this Report.

Employees

Your Company continues to pay high degree of emphasis on human resource development,which it believes is necessary to meet the challenges of increased competitiveness. TheIndustrial relations in your Company was stable during the period under review.

There is no employee covered under the provisions of section 217(2A) of the Companies Act.,1956 read with Companies [Particulars of Employees] Rules, 1975.

Conservation of Energy, Technology Absorption, Foreign Exchange earnings andoutgo

A. Conservation of energy :Total energy consumption and energy consumption per Unit of Production as perform A of the annexure to this report.


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B. Technology Absorption:Efforts made in technology absorption is as per Form B of the Annexure to thisreport.

Directors Responsibility

As required, under section 217(2AA) of the Companies [Amendment] Act, 2000 the Directorsbased on the representation received from the operating management, confirm that;

(I) In the preparation of Annual Accounts, the applicable Accounting standards havebeen followed and there are no material departures.

(II) They have selected such accounting policies and applied them consistently and madejudgment and estimates that are reasonable and prudent so as to give true and fairview of the state of affairs of the Company as on 31st March 2010 and of the profit ofthe Company for the year ended 31st March 2010.

(III) They have taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provision of this Companies Act, 1956 forsafeguarding the assets of the Company and for preventing and detecting fraud andother irregularities.

(IV) They have prepared the accounts on a going concern basis.

Acknowledgement

Your Directors are pleased to record their appreciation for the dedication and the hard work put

up by the employees at all levels and acknowledge their contribution towards progress andperformance of the Company.

On Behalf of the Board of Directors

Sd/- Sd/-Raju Thomas A. K. GuptaDirector Director

Date : 25.05.2010Place : Bangalore


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Page 4 of 5


(A) 01. ELECTRICITY

YEAR 2009-2010 YEAR 2008-2009

Purchase Unit KWH 1161780 1000980Total Amount [ Rs. in lacs] 57.41 49.66Rate / Unit 4.94 4.96

Own Generation

Through Diesel Generation[HSD]

YEAR 2009-2010 YEAR 2008-2009

Unit KWH 497308 406480Unit /Ltr 2.74 3.07Cost / Unit 10.52 8.88

02. Coal [ Specify quality and where use ]Not applicable

03. Furnace oil ( LVFO- Low Viscosity Furnace Oil )

YEAR 2009-2010 YEAR 2008-2009

Quantity [Ltr] 1244676 930152Total Cost [ in Rs. lacs] 436.09 295.01Rate / Unit [ in Rs.] 35.04 31.72

04. Other- LDO

YEAR 2009-2010 YEAR 2008-2009

Quantity [KG.] NIL NILTotal Cost [ in Rs. lacs] NIL NILRate / Unit [ in Rs.] NIL NIL

(B) Consumption per unit of Production

YEAR 2009-2010 YEAR 2008-2009

1. Electricity [ KWH/MT] 77.46 90.792. LVFO ( Ltr/MT) 82.99 84.373. LDO ( Ltr/MT) NIL NIL

(C) Foreign Exchange Earnings and outgo

(a) Activities Nil(b) Total foreign exchanges used and earned Nil


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(A) Research and Development [ R & D]

1.

Specific areas in which R& D carried out by the Company : Nil2. Benefits derived as a result of the above R & D : Nil3. Future plan of action : Nil4. `Expenditure on R & D : Nil

(B) Technology absorption, adaptation and innovation

1. Efforts in brief, made towards technology, absorption, adaptation, and innovation. Agreat emphasis is laid on product quality, productivity and plant utilisation.

2. Benefit derived as a result of the above efforts are lower cost of production andhigher volumes.

3. Particulars of technologies imported : Not applicable

ON BEHALF OF THE BOARD OF DIRECTORS

Sd/-Raju ThomasDIRECTOR

Sd/-A. K. GuptaDIRECTOR

Date : 25.05.2010Place : Bangalore


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31st March 31st March

As at Schedule 2010 2009

Rupees Rupees

I SOURCES OF FUNDS

(1) SHAREHOLDERS' FUNDS

(a) Share Capital 1 37,995,000 37,995,000

(b) Reserves & Surplus 2 33,268,741 -

(2) LOAN FUNDS

Unsecured Loans 3 28,000,000 82,000,000

(3) DEFERRED TAX LIABILITY 4 4,954,180 5,317,975

104,217,921 125,312,975

II APPLICATION OF FUNDS

(1) FIXED ASSETS

(a) Gross Block 5 191,154,868 193,874,840

Less : Depreciation 49,421,633 41,979,946

Net Block 141,733,235 151,894,894

(b) Capital Work-in-Progress including advances - -

141,733,235 151,894,894

(2) CURRENT ASSETS, LOANS AND ADVANCES

(a) Inventories 6 62,889,896 31,387,783

(b) Cash and Bank Balances 7 5,480,543 33,457,053

(c) Loans and Advances 8 28,211,347 8,492,009

96,581,786 73,336,845

Less :

CURRENT LIABILITIES AND PROVISIONS

(a) Liabilities 9 126,656,067 101,600,598

(b) Provisions 10 7,441,033 298,406

134,097,100 101,899,004

NET CURRENT ASSETS (37,515,314) (28,562,159)

(3) Profit and Loss Account - 1,980,241

104,217,921 125,312,975

(0) (0)

NOTES 14

In terms of our report of even date.

For Ashoke Kumar Jalan & Associates For and on behalf of the Board Directors

Chartered Accountants

Sd/- Sd/-

(Ashoke Kumar Jalan ) Director Director

Partner

Place: Guwahati Place: Bangalore

Date: 26th May 2010 Date: 25th May 2010

SUNRISE BISCUIT COMPANY PRIVATE LIMITED

BALANCE SHEET


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For the year ended Schedule 2010 2009

Rupees Rupees

I INCOME

Gross Sales 718,307,306 325,623,309

Conversion Income - 34,950,717

Sales Tax (81,992,743) (36,180,477)

Excise Duty (3,171,588) (4,133,045)

Net Sales 633,142,975 320,260,504

Other Income 11 73,265,052 20,777,208

706,408,027 341,037,712

I I EXPENDITURE

Consumption of Materials 12 528,688,519 237,982,922

Salaries, Wages and Bonus 44,598,730 33,224,134

Interest 4,312,881 3,420,604

Depreciation 8,465,731 6,624,306

Expenses 13 78,314,354 57,770,483

664,380,214 339,022,449

PROFIT/(LOSS) BEFORE TAX 42,027,813 2,015,263

Provision for Tax

Current (MAT) 7,142,627 201,166

Current (FBT) - 152,306

Deferred (363,796) 2,014,170

PROFIT / ( LOSS ) AFTER TAX 35,248,981 (352,380)

PROFIT AVAILABLE FOR APPROPRIATION 35,248,981 (352,380)

DIVIDEND AND TAX

Proposed Dividend - -

Tax on dividend - -

PROFIT CARRIED FORWARD 35,248,981 (352,380)

35,248,981 (352,380)

NOTES 14

Basic and Diluted EPS 9.28 (0.09)

In terms of our report of even date.

For Ashoke Kumar Jalan & Associates For and on behalf of the Board of Directors

Chartered Accountants

Sd/- Sd/-

(Ashoke Kumar Jalan ) Director Director

Partner

Place: Guwahati Place: Bangalore

Date: 26th May 2010 Date: 25th May 2010


PROFIT AND LOSS ACCOUNT


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As at 2010 2009

Rupees Rupees

1 Share Capital

Authorised

43,50,000 equity shares of Rs.10/- each 43,500,000 43,500,000

(Previous year 43,50,000 equity shares of Rs.10/- each )

5000 11% Redeemable Non-Cumulative

Preference Shares of Rs. 100/- each. 500,000 500,000

44,000,000 44,000,000

Issued, Subscribed & Paid up

37,99,500 equity shares of Rs.10/- each for cash, fully paid 37,995,000 37,995,000

(Previous year 37,99,500 equity shares of Rs.10/- each)

37,995,000 37,995,000

2 Reserves & Surplus

Profit & Loss Account (1,980,241) (1,627,861)

Transferred from Profit & Loss Account 35,248,981 (352,380)

Balance carried forward 33,268,741 (1,980,241)

3 Unsecured Loan

Term Loan

-from others 28,000,000 82,000,000

28,000,000 82,000,000

Unsecured loan from the holding company. The loan is repayable on demand and

the holding company has lien on the assets made out of this loan.

4 Deferred Tax

Deferred Tax Liability 9,770,340 7,829,080

Less: Deferred Tax Asset 4,816,160 2,511,105

4,954,180 5,317,975

6 Inventories

Stores, Spare parts and Consumables 7,817,269 5,158,388

Ingredients 28,019,992 14,220,774

Packing Materials 7,532,833 7,989,840

Finished goods 19,519,802 4,018,781

62,889,896 31,387,783

7 Cash and Bank Balances

Cash and cheques in hand 479,602 364,419

With Scheduled Banks-

-in Current Accounts 5,000,941 30,542,634

-in Deposits Accounts - 2,550,000

5,480,543 33,457,053

8 Loans and Advances

Unsecured - considered good

Advances recoverable in cash or in kind or for value to be received 9,795,715 4,835,911

Security & Other Deposits 854,504 1,295,504

Central capital Investment Subsidy Receivable 9,682,343

Current accounts with Excise authorities 79,660 74,057

Advance Income Tax & TDS 7,799,125 2,286,537

28,211,347 8,492,009

9 Current liabilities

Sundry Creditors (other than SSI units)

Due to Small Scale industries (Note 1) - -

Others 43,802,815 32,678,669

Other liabilities 82,853,252 68,921,929

126,656,067 101,600,598

Note 1: The above information regarding small scale industrial undertakings has been

made based on the information provided by the Company, which has

been relied upon by the auditors.

Other Liabilities include Rs. 591,474/-towards Provident Fund and ESI contribution

from both employees and employer (Previous Year - Rs. 471,758/- ) and Provision

for Leave Liability Rs. 16,94,271/- (Previous Year - Rs. 19,01,541/-)

10 Provisions

Provision for taxation(MAT) 7,441,033 298,406

Provision for taxation(FBT) - -

Provision for Retirement benefits - -

7,441,033 298,406


SCHEDULES TO ACCOUNTS


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For the year ended 2010 2009

Rupees Rupees

11 Other Income

Miscellaneous Income 3,398,092 1,405,590

VAT Benefit 69,437,246 19,105,092

Profit on sale of asset - 23,000

Interest Received (Tax deducted Rs. 53,314/-) 429,714 243,526

73,265,052 20,777,208

12 Consumption of Materials

Opening Stock - -

Raw Materials 14,220,774 -

Packing Materials 7,989,840 -

Finished Goods - -

22,210,614 -

Purchases of Raw Materials 444,821,498 206,699,875

Purchases of Packing Materials 97,209,232 53,493,661

564,241,344 260,193,536

Closing Stock

Raw Materials 28,019,992 14,220,774

Packing Materials 7,532,833 7,989,840

Finished goods -

35,552,825 22,210,614

528,688,519 237,982,922

13 Expenses

Stores and Spare parts consumed 3,136,921 1,347,112

Contribution to Provident and Other funds 3,522,662 2,891,017

Workmen and Staff welfare expenses 3,063,576 2,868,372

Power and fuel 54,581,353 39,078,213

Repairs and maintenance of Machinery 2,294,931 1,219,460

Repairs and maintenance of Buildings 539,355 318,423

Repairs and maintenance of Other Assets 1,593,363 664,548

Rates and taxes 539,551 353,906

Auditors' Remuneration

Audit fee 61,500 60,665

Other services

Out of Pocket Expenses 6,854 9,851

Insurance 342,078 362,011

Directors' sitting fees 2,400 1,000

Salaries, Benefits etc. reimbursed 3,247,691 3,106,063

Loss on retiral/writeoff of assets 168,802 26,688

Professional Charges 765,389 593,001

Travelling & Conveyance 178,533 241,517

Security & Other Service Charges 637,042 965,258Vehicle Repairs & Maintenance 608,616 847,205

Telephone, Telex & Telegram 318,273 319,273

Printing & Stationery 227,289 176,077

Miscellaneous expenses 2,478,175 2,320,823

78,314,354 57,770,483




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14 Notes to Accounts

A. The significant accounting policies are summarised below :

1. GENERAL

(i)

(ii)

2. FIXED ASSETS

(i)

(ii)

(iii)

3. INVENTORIES

4. REVENUE RECOGNITION

5. RETIREMENT BENEFITS

(i)

(ii)

6. DEFERRED TAXATION

7. PROVISION FOR TAXATION

A Previous years figures have been regrouped/rearranged wherever necessary.

B 1. Commitment for capital expenditure amounts to Rs. Nil/- (Previous year Rs. Nil)

2 Contingent liabilities : Rs Nil. (Previous year Rs. Nil)

3

3 a

4

C

as follows :-

As at 31st March 2010 As at 31 March 2009

a) Deferred Tax assets arising from

Section 43B disallowance 4,816,160 2,511,105

b) D eferred tax Liabilities arising from

Timing differences in the carrying value of fixed assets 9,770,340 7,829,080

4,954,180 5,317,975

Towards earliers years through deduction in

Opening Balance 5,317,976 3,303,805

For the current year (363,796) 2,014,170

4,954,180 5,317,976

The tax impact for the above purpose has been arrived by applying tax rate of 33.99%

being the prevailing tax rate for Indian Companies under the Income Tax Act, 1961

There would be no taxable income calculated in accordance with the provisions of section 80IE of the Income Tax Act, 1961. Taxation provision of Rs. 75,33,716/-

however, made in the accounts represents Minimum alternate tax (MAT) payable under the said Act and the same is in the opinion of the management adequate.

Thecompany started availing sales taxexemption based on theSalesTax Exemption Certificate issuedby theDept of Industries, Govt. of Assam,grantingsalestax

exemptiontill 30thApril 2000. During the pendencyof the exemptionperiod,Govt. of Assam hadissued Notificated dated 05.11.1999 , withdrawing the sales tax benefit

of Biscuit manufacturing unit where product are not sold in own brand name. The company immediately filed writ petition before the Hon'ble Guwahati High Court

challenging thelegality of theNotification , which is against the1991IndustrialPolicy of Govt of Assam . Thecourt issueda stay-order on10.01.2000and thefinal order

is passed in favour of Company.In theevent of anyunfavourable event, thecompany will recover theamountof sales taxso payable, from thecustomer M/sBritannia

Industries Ltd since the customer is liable for payment of sales tax as per the agreement dated 26.05.1995.

Further, during the year 2008 -09 Company had undertaken substantial expansion as per NEIIP, 2007 / Assam Industrial Policy, 2003. Company has applied for

Eligibility Certificate for VAT exemption and other incentives. Company is able to obtain Certificate for Eligibility under process and based on such certificate Company

has started availing VAT exemption w.e.f. 18th Sep. 2008, the date of commencement of production post expansion.

The company is availingbenefitunder Central Excise Notification no. 33/99dated 8th July1999 and accordingly the Company is getting refund of Central Excise Duties

paid from Account Current .

The net Deferred Tax Liability as on 31st March 2010 amounting to Rs.49,54,180/- (PY:Rs. 53,17,976/-) has been arrived at

In view of theAccountingStandard-22 on Accounting forTaxeson Income (AS22) issuedby theInstitute of CharteredAccountants of India,the Company hasmade

provision for deffered tax



TheCompany has entered into Purchase Of Finished Goods (POFG) agreementdated 19thAug. 2008 with BritanniaIndustries Ltd w.e.f 1st Sep. 2008. As per the

agreement, M/s Sunrise Biscuit Co. Pvt. Ltd. will itself source Ingredients & packing materials and the Company will sale biscuits to M/s Britannia Industries Ltd.

Fixed assets are stated at their original cost less depreciation. Cost includes inward freight , dut ies and taxes, and expenses incidental to acquisition and

installation. CENVAT availableon capital hasbeen reduced. Duringthe year Central Capital Investment Subsidy was approved to Unit fora sumof Rs. 96,82,343/-.

Theamountof Rs.96,82,343/-is reduced from cost of Plant & Machineriesas theCentralCapital Investment Subsidy isapprovedfor investmentin Plant & Machineries

under North East Industrial Investment Promotion & Policy, 2007.

These Financial Statements have been prepared under the historical cost convention in accordance with the generally accepted accounting principles and the

provisions of theCompanies Act, 1956 as adopted consistently by thecompany andthe accounting standardsprescribed by theInstitute of CharteredAccountantsof

India on going concern basis.

The l iabi li ty for Gra tu ity is funded as per Group Gra tu ity Scheme of L ife Insurance Corpora tion o f Ind ia and according ly the premium sopayable under

the said Scheme against the contr ibut ion to the Fund is accounted for, as per Gratuity Fund method of accounting, as and when the same becomes due for

payment.

Liabi li ties in respect of ret irement benefits other than gratuity and provident funds are charged to revenue based on actuarial valuation as at the end of the

accounting period. Contribution to provident fund is made on monthly basis and charged to revenue.

Deferred tax is recognised on timing differences, being the difference between taxable income and accounting income thatoriginate in one period and are reversible in

one or more subsequent periods.

Year ended 31st March 2010

Depreciationis provided on 'Straight Line' methodat theratesspecified in Schedule XIV of theCompanies Act, 1956. Depreciation on additions/disposals has

been computed from the month of additions and upto the month of disposal.

Rawmaterials, Packing Materialsand Stores& Sparesarevalued atcost ornet realisable value,whicheveris less. Cost includes purchasepricenet offCenvat, freight

and other incidental expenses. Valuation of raw materials have been made on FIFO basis.

Sales are recorded when supply of goods takes place in accordance w ith terms of sale in terms of POFG agreement dtd. 19th Aug. 2008 wef 1st Sep. 2008.

Finished goods are valued at lower of p rime cost plus manufacturing expenses or net realisable value.

An asset is treated as impaired when thecarryingcost of assetsexceeds its recoverable value. Thecompany assesses at each balance sheet date whether there is

anyindication that anyassets maybe impaired.If anysuchindication exists, thecarrying valueof such assetsis reduced to itsrecoverable amount andthe amountof

such impairment loss ischargedto profit& loss account. If atthe balance sheetdatethere isany indication that a previously assessedimpairment loss nolonger exists,

then such loss is reversed and the assets are restated to that effect.


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D AS 26 : There are no items that needed to be disclosed as intangible asset as per AS-26.

E

F

G

H Earnings Per Share 31st March 2010 31st March 2009

Profit/(Loss) attributable to the Equity Shareholders (Rs.) 35,248,981 (352,380)

Basic/weighted average number of Equity shares 3,799,500 3,799,500

outstanding during the year

Nominal value of Equity shares (Rs.) 10 10

Basic / diluted Earnings Per Share (Rs.) 9.28 (0.09)

I Related parties and their relationship

a) Name of Company Relationship

Britannia Industries Ltd. Holding Company

b) Transaction with the related parties

Hold ing Co. Subsi di ar ie s Associ at es

Key

Management

Personnel

Relatives

of Key

Managem

ent

Personnel

Total

Purchases of inputs 12,870,610 - - - - 12,870,610

Sale of fi ni shed goo ds 7 18 ,30 7, 30 6 - - - - 718,307,306

Sale of raw materials / inputs 4,162,201 - - - - 4,162,201

Purchases of fixed assets - - - - - -

Sale of fixed assets - - - - - -

Conversion income - - - - - -

Interest paid 4,312,881 - - - - 4,312,881

Loan Repaid 54,000,000 - - - - 54,000,000

WC Advances Taken 26,500,000 26,500,000

Equity - - - - - -

J Sales (including samples) & Conversion Charges

Product group

31st March 2010 31st March 2009 31st March 2010 31st March 2009

Tonnes Tonnes Rupees Rupees

Sale of Biscuits 14730 6790 718,307,306 325,623,309

Conversion Charges 4196 34,950,717

14730 10986 - 34,950,717

K Raw materials consumed

31st March 2010 31st March 2009 31st March 2010 31st March 2009

Tonnes Tonnes Rupees Rupees

Flour 10,720.91 4,923.77 163,514,142 73,587,506

Fat 2,592.32 1,014.69 127,193,039 50,094,151

Sugar 3,286.13 1,502.59 96,055,708 31,766,425

Others - 44,259,391 37,031,018

431,022,280 192,479,100

31st March 2010 31st March 2009

Rupees % Rupees %

Imported - - - -

Indigenous 431,022,280 100 192,479,100 100

431,022,280 - 192,479,100 -

Stores and spare parts consumed 31st March 2010 31st March 2009

Rupees % Rupees %

Imported - - - -

Indigenous 3,136,921 100 1,347,112 100

3,136,921 100 1,347,112 100

L Licenced and installed capacities per annum - in tonnes

Licenced Licenced Installed* Installed*

Capacity Capacity Capacity Capacity

Product group 31st March 2010 31st March 2009 31 st March 2 01 0 31 st March 2 00 9

Biscuit N.A. N.A. 14711 9383

* Installed capacities are based on the certificate issued by the Department of Industries, Govt. of Assam

M Production 31 st March 2 01 0 31 st March 2 00 9

Product group in tonnes in tonnes

B iscuits during under P OFG Agreement WE F 1st Sep 20 08 1 499 8 6873

Biscuits during under Conversion Agreement 4153

14998 11025

- -

Quantity Value

Management contracts

including for deputation of

employees

3,247,691 - - 3,247,691



Provisions involvingsubstantial degreeof estimation in measurement arerecognisedwhenthereis present obligation as a resultof past eventsand it is probable that,

there will be an outflow of resources. Contigent liabilities arenot recognised butare disclosedin thenotes. Contingent assetsare neither recognised nordisclosed in

the financial statements.

AS 17 :The primary segment of the company is biscuit and other segments are below the required reportable levels as per the AS-17.

ValueQuantity

Borrowing costs attributable to the acquisition or construction of qualifying assets is capitalised. All other borrowing costs are charged to revenue.


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Opening and Closing stocks 31st March 2010 31st March 2009

of Finished goods

Quantity Value Quantity Value

Tonnes Rupees Tonnes Rupees

(a) Opening stock

Biscuits 83 4,018,781 - -

(b) Closing stock

Biscuits* 351 19,519,802 83 4,018,781

N Balance Sheet Abstract and Company's General Business Profile

(a) Registration details

Registration No. 02361 State Code 02

Balance Sheet date 31-03-2010

(b) Capital raised during the year ( Rupees )

Public Issue - Rights Issue -

Bonus Issue - Private Placement

(c) Position of mobilisation and deployment of funds (Rs.' 00 0)

Total Liabilities 104,218 Total Assets * 104,218

Sources of Funds Application of Funds

Paid up Capital 37,995 Net Fixed Assets 141,733

Reserves and Surplus 33,269 Investments 0

Unsecured Loans 28,000 Net Current Assets (37,515)

Deferred Tax 4,954 Misc.Expenditure 0

Profit & Loss Account Balance

* Net of Current Liabilities

(d) Performance of the Company (Rs.' 000)

Turnover 706,408

Total Expenditure 664,380

Profit before Tax 42,028

Profit after Tax 35,249

Earnings per Share in Rs. 9.28

Dividend Rate % 0

(e) Generic names of three principal products / services of Company (as per monetary terms)

Item Code (ITC Code) 190530 Product Description BISCUITS



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