SRISRINIVASA DAIRY PRODUCTS PRIVATE LIMITED [Mangrecturers ot SCOOPS" Ice-Cream] 4 a.6-465, Eso. Bacat. HYDERABAD ~ 50002744 P.] Helle = 0a = 24656096 Wervsite: anew. siacpsindia com NOTICE NOTICE Is hereby given that the SEVENTH ANNUAL GENERAL MEETING cf the Company will be held at 11:20 A.M, on Wednesday, the 25" September, 2010 at the Registered Office of the Company situated at 4-6-455, Esamia Bazar, Hyderabad [A.P.] ~ 500 027, to transact the following business :- ORDINARY BUSINESS: 1 To receive, consider and adapt the Audited Balance Sheet as at 31st March, 2010 and the Profit and Loss Account for the year ended on that date end the report of Directors and Auditors thereon. To appoint Auditors to hold office from the conclusion of this Annual General Meeting till the conclusion of the next Annual Generet Meeting end to fix t remuneration, M/s Vishnu & Company, Chartered Accountants, Auditors of the Company retire at the conclusion of this Annual General Meeting and being cligible, offer themselves far reappointment. By order of the Board, For Sri Srinivasa Dairy Products P. Ltd. Aer BD en [Govind Das Shah} Managing Director. Hyderabad 18” September 2010. BECE 4-6-9465, Esamia Bazar, HYDERABAD — 500 077. NOTE: 1. A Member entitled to attend and vote at the meeting Is also entitled to appoint & proxy to attend and vote Instead of himself and the proxy need not be a member of the Company. 2. The relative explanatory statement pursuant to section 173 (2) of the Companies Act, 1956 is respect of the special business set out in the notice is annexed hereto.SRI SRINIVASA DAIRY PRODUCTS PRIVATE LIMITED [Manufacturers of “SCOOPS™* Iee-Cream) 44-6465, Esamia, Bazar, HYDERABAD - 500027(A. P] ello: 040 - 24656096 Web-site; www scoonsingia.com eee DIRECTORS’ REPORT To, [Tne Share Holder,M/s SRI SRINIVASA DAIRY PRODUCTS PRIVATE LIMITED Hyderabad. Your Directors’ have pleasure in presenting the SIXTN ANNUAL REPORT on the business Snd operations of the Company together with Audited Statements of Accounts for the veer ended 31st March, 2010 ané the Report of the Auditor's thereon, m DEI 4 ‘The Financial Results of the Company are summarised below: (Rs. In Lakhs) Particulars ‘Ason ‘AS on 34-03-2010| __31-03-2009| ‘Sales. 1322.30 1090.00 Other Income 4.53, 0.89 Profit Before Interest, Depreciation & Tax 183,36, 179.46. Finance Charges 40.62 28.33 | ‘Depreciation 65.45 60,29 Proft Before Tax 90.82 ‘Income Tax (Current 24.69 Deferred Tax (Current) 4.29 | Profit after Tax 31.83 TURNOVER: Your Directors’ are happy to state that your Company has achieved a tumover of R.1312.30 Lakhs (Previous Year R5.1090.00 Lacs) during the year under veview wih growth rate of 20.39% over last yeor and your directors endeavoring for enter constant growth, ‘MATTERS WITH SPECIAL CONSIDERATION: 1. As you are all aware, that your company has ambitions of expansion and siversification and to accomplish this, the company has acquired leasehold rights aver 1.21 Acres of land at Infapur Village, Hayathnager Mandal, Hyderabad, during the last year. ‘The company hes commenced development of the sald site and has started civil constructions for the. expected modern plant. Your directors are hopeful of commencing the production at the abave new plant within a period of one year.SRI SRINIVASA DAIRY PRODUCTS PRIVATE LIMITED) [Manufacturers of "SCOOPS™” lee-Cream] Bazar, HYDERABAD — 300027 [A.P.] u Pt st : {in terms of provisions of section 217(2AA) af the Companies Act, 1956, your Directors state that: |. inthe preparation of the annual accounts, the applicable accounting standards have ‘Dean followed otong with proper explanation relating to material departures, If any. it, the Directors have selected such accounting policies and appiiad tham consistently and made judgments and estimates that are reasonable and prudent so as to give B true and fair view of the state of affairs of the Company at the end of the financial ‘year and of the profit of the Company for that year; ih, the Directors have taken proper and sufficient care for the maintenance of adequate ‘accounting records in accordance with the provisions of this Act far safeguarding (fe gesets of the Company and for preventing and detecting fraud end other frregularities; iv. the Directors have prepsred the annusl accounts on @ going concern besis; PARTiCS oF 7 As there were no employees drawing remuneration more than the limit prescribed under Section 217028) of the Companies Act 1956 and the Companies (Particulars of Employees) Rules, 1975, as amended from tme to time, ‘statement under section 217(2A) Is not annexed. Information 2s per section’ 217(1)(e) of the Companies Act, 1956, read with the Compenies (Disclosure of Particulars In the Report of the Board of Directors) Rules, 1988 Gnd forming part of the Directors’ Report for the year ended 31" March, 2020 Is annexed hereto.SRI SRINIVASA DAIRY PRODUCTS PRIVATE LIMITED {Manufacturers of SCOOPS" Ice-Cream] # 4-6-465, Esamie, Bazar, HYDERABAD —S00027 (A. P:] Helto : 040 ~ 24656096 ‘Web-site: www scoopsindia.com AUDITORS: The Auditors of the Company "M/s VISHNU AND COMPANY’, Chartered Accountants retire at the ensuing general meeting and being eligible, offer themselves for re- appointment, A Certificate stating thelr eligibility for reeppaintment hos been received Trom them U/s 224 (1-B) of the Companies Act, 1956. ACKNOWLEDGEMENT: ‘Your Directors take this opportunity to express thelr deep sense of gratitude to various daportments of Centrel and State Governments, the Bankers, the Suppliers, Customers: ahd Sharehotders of the Company for thelr continued assistance, support and guidance. ‘The Directors with to piace on record their appreciation of the dedication and efforts put In by the employees of the Company at all levels, By order of the Board, infvasa Dairy Products P. Ltd. .QVe {oust [Govind Das Shah] Managing Director. Hyderabad 18 September 2010.SRI SRINIVASA DAIRY PRODUCTS PRIVATE LIMITED [Manuinctarers of "SCOOPS™™ Ixe-Crean) #4-6-465, Esamia, Bazar, HYDERABAD ~ 500027 [A.P.] Hello : 640 — 24656096 Web-site: wuss scoopsingia.com ANNEXURE TO DIRECTORS” REPORT 2009-2010 [A] CONSERVATION OF ENERGY: 1. Energy Conservation measures taken by the Campany: © Reducing the maximum demand by evenly distributing the loads throughout the day and increasing efficiency of plant and equipments. «Improving power factor by optimum choice of pawer factor improvement capacitors, » Monitoring the overall eneray consumption, by reducing losses and Improvement of efficiency of all utlities.. 2. additional Investments and proposal for reduction of consumption of energy: + Company is making all the efforts for reduction In consumption of energy, mainly by way of replacement of existing equipments by moder & energy efficient equipments. 3, Total energy consumption and energy consumption per unit of production as per Form "A’, 93 under: FORM — "A" FORM FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO CONSERVATION OF ENERGY: Particulars ‘Year ended Year ended | _ 38-03-2020 31-03-2009 | al POWER & FUEL CONSUMPTION: Electricity: {it Purchased | Units [Nos.] 790616 784410 Total Amourit [RS] 3263753 3059058, Rate / Unit {Rs.] 4.13 3.90| ‘B] CONSUMPTION PER UNIT OF PRODUCTION Erectricity (Valts Wos /Litres) on Coal (Kas. /Litres) Diesel (Litre/Litres)SRI SRINIVASA DAIRY PRODUCTS PRIVATE LIMITED [Mannfacturers of “SCOUPS™" tee-C reun # 4-6-465, Esamia, Bazar, HYDERABAD — 500027 [A P.) Hello : 040 24656096 Web-site: www seoopsingia.com FORM ~"B* RESEARCH AND DEVELOPMENT (R & D): No significant Research & Development activities were undertaken during the year, However efforts are being made to reduce operational costs by adopting optimumshorter processes. TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION: ‘The company adopts the basic technology provided by the research associations. [C} FOREIGN EXCHANGE EARNINGS & OUTGD: Exports during the year amounted to Rs. Nil, The outgo of Foreign Exchange ‘amounted to Rs. Nil. By order of the Board, For Sri Srintvasa Dairy Products P_ Ltd. : Boule, [Govind Das Shan] Managing Director. Hyderabad 19” September 2010.VISHNU AND COMPANY Chartered Accountants [Sole Proprietor : CA VISHNU PRAKASH KANKANI} No, 2-3-948/1, Abiinhek Nivaz, Near Ganeoh Temple, Autbigude-Badt Chowdl Lanc, Mutbiguda, HYDERABAD-500027 [A.P.] Hello : 040-2474 0999, 9440 609 384 2: eMail Box LD : vpkamiami@yahoo.com AUDITOR’S REPORT To The Members’ ot Nfs St Srintvana Dalry Products Pvt. Lid, Hyderabod. 1, We have oudlted the attachad Balance Sheet of M/s Sif Siinivase Doky Products Pitvate Umited, Hyderabad os at 31¢ March, 2010 and the annexed Profit & Loss ‘Account for the year ended en that date ond repert thet these financial statements ee the responsibilty o! the Company's management. Our responsibly is to exaress ncpinion on these financial statements based on our audit. 2. We have conducted audit In o¢cordance with ouditing stondards: generally eccepied in Indio. Those stoncoicis require thai we plon and perform the oucit to obtain reasonable csuronce about whether the financial statements are free from mistatement. An audit includes examining, on 0 test bos’, evidence supporting the ‘omaunts and disclos.xes In the finoncia! statements. An oust oisa includes assessing tive accounting principles used and significant estimates made by management. os well 66 evolucting the overall fnancicl statement presentation. We believe that our ‘quGi provices a reasoncble bass for our opinion. 2. Av required by the Companies |Aucttor's Report} Order, 2003, sued by Ihe Central Goverment of Indio in tems of sub-section [44] of section 227 of the Companies ‘Act. 1956, we annett heroto o sfotement on fhe matters specified in Paragraphs 4 & 5 af the sald Order. 4. Further to our comments in parograph 3 above: fo} we hove obtained all the information ond explanations, which to the best ot our knowledge and belial were necessary for the purpose of ou audit tb) in oUF opinion, proper books of accounts, as required by law. have been kep! by the company £0 Far at oppears from eur exominaation of thase Dooks: (¢)__ the sald Balance Sheet and the Profil ond Lois Account deal with by this report grein agfeement with the books of account; (6) incur opinion. the Balance Shee! ond the Profit and Loss Account dealt with ‘by ths report comply with the Accounting Stondords referred te on [C} of Section 211 of the Companies Act. 1956: Aa Sei Srinivase Dairy Products P LidVISHNU AND COMPANY Chartered Accountants {Sole Proprietor: CA VISHNU PRAKASH KANKANI] He. 2-2-944/1, Abhishek Rivas, Nour Ganesh Temple, Eutbiguda Badi Chowdi Lane, HYDERABAD-500027 [A.P.] Rathigada, Hello : 040-2474 0999, 9440 609 384 & eMail Box ID z ypkenkani@yehoo.com te) {f) Hyderabad 17" September 2010 ‘on the boss of uritien representation received Irom the directors, as on 318 Mach, 2010 ond token cn record by the boord of director. we report thot none of the Direcicrs is disqualified as on 3i* Merch, 2010 from being ‘appeintad os ¢ direclor in tens of clause {g] of sub-section (1) of section 274 of the Companies Aci. 1956: in our opinion ond te the bett of our information and occording to the ‘explanations given to us. the said Gccounts, read logether with the notes thereon, glve the infermation required by the Camponies Act, 1956 in the momner so required ond give 9 tue cnd ‘cir view in contomiy with the ‘e¢counting principles generally accepted in incio: {) in the cate of the Bolunee Sheet, of the State of Allain’ of the Company os on 31¥ starch, 2019; and (i) in the cose of thi Prof and test Account, of the Profit of ine Company for ine year ended cn that cote. Sei Srinivasa Dairy Products P LidVISHNU AND COMPANY Chileced Accountants jeer Teeprictor C4 MISUNL PRAKASH RANRANY) Hino, 3 3.943/1. Abbicheu Nivac, Neur Ganesh Temple, Kutbiguide-Badi Chowds tanec. Kothigada, HYDRRABAD-§00027 [A.P.] yov9, 0440 608 284 & eMail Bos ID a vbslahau Hette 440-2 Jis.co ANNEXURETO THE AUDITOR'S REPORT (Reterredto in Paragraph (3) of our Report of even date te tte members of Sil Siinfvasa Delay Products Privata Limited) 1. Jal The Company hes inginioined proper recerds showing /ut patticulors ihc iuaina quoniiotive detalé and situation of flead Assets JSLAD Tie csscls hove been physiol veriied by the management Guting Ine your No motetiol disciepancles were nuticed on such vertication. Ie] In aur opirion and eccording [6 Ihe information and exptanations given lo vs Thee wos no substantial depose! of firect assets (hat would affect Ine going concern slotus ol Ihe Company. >. {al The inventory nas been physically vesiied duting the yeor by the management. {9 out opinion, the hequency of verificalion is recxenable. [ol The procedires cf physical vellicétion of inventoies tofowed by the management are reasonable ond adequate in tection to ihe siza of the company ends the nature of its business, {cl the company mainiciting pronar records of inventory. the dwepancios policed on verficalian batween Ihe physical slocks and Ine book records were nol mole 2. fol the company hos token toon [rom Heven porties [including We cero] Covered in the register mointained under section 30] of the Companies Act. 1956. She moximum balonce invalved dutng the year war Re, 60.87812 /- onc the year end bolunce of the loans taken from such porliss wos Rs. 16.148.035/- The Company Goes Fot have any subsidiary company, theretors the provision regarding the gent of interes! ree loon 10 Rs sUbsiciory campany, is net applicable to the subject company. Ib} tn our opinion Ihe role of interes! and ather ferns and condilians on which loans have been laken kom the companies, ims or olher pores sted in Ine renisler maintained under section 30] al the Companies Aci, 1996 a nol, primo lecie, prejudicial to the interes! of the company. {c} there it no overdue amount ol loans exceeding Rs. 1.00 lakh. loken / granled trom 7 lo companies. frms ot oiler parties fisted in the togisler maintained under section 301 of the Companies Act, 1956 4 keeUL opinion ond according fo the information anid expignations gw fo us hese tre Bdequote intemal contol procedures commensurate whi tc sr of the Fonpany and Ine nature ol its business with regard lo auchases lead aie and will: regerd Io the sale of goods. During lhe coune olgiur ¢ ave fo) observed oy conliaving lolixe '6 cortecl maka: whaknesesfrinleral cbekels tr caaicee Sih Siiniivngs Pag PRR wlVISHNU AND COMPANY Chartered Accountants [Sole Proprietor : CA VISHNU PRAKASH KANKANI] ALNo. 3.3.49) 1, Abhishek Nivar, Noux Genesh Temple, Ruthignda-Badi Chowdi Laney ‘Kuth(guda, BYDERABAD-500027 [A-P.) Hello : 040-2474 0999, 9440 609 384 & eMail Box ID + vol i ees &. Jo} According fo the iniormation ong explanations given to us we Ore of the onion Rot the transactions that need to be entered info the regkter maintcined under section 201 of the Companies Act. 1958 have Deen so entered. {bi in our opinion and according tothe information and exotanations given 10 vse Transactions made in pursyance of contracts or arrangements entered! in Ihe ragitor WMuntained under section 201 cf the Companies Act, 1956 and excesding the valve Oi npess five lakhs in respect of the parties, during the yecr, have been have bese trode of the pices which are reesanobie having regard ta the prevaling market prices at the relevant point of ne. 6. The compony has not accented ony deposits from the public ond consequently he Ghactives ved by tne Reserve Bank of Indio, the provisions of sections SAA ond SSAA Stihe Companies Act, 1956 one the Rules framed thare uncer cre not opplcabie, 2. In our opinion, the company has an intemal audit system, which Ik commensurate with the size and the nature of its busirwss. & Accorcing to the information and explanations given to us, the Centicl Govemmant fos not presiibed the mointenance ol co” records under clause {6} of sub-section {)) of section 209 of the Compories Act, 1956 in respect of the monufectuiing (eanties cafed on by the Company ond therefore, clause 4[vi) of the Crcar & nt eppiicabie. 9. {a} According to the records vetied by us, the company's raglor in depositing wih roprole duihorlies undisputed statutory dues inclucing provicient lund, twesice Coonan protection fune, employees’ state inawrance, Income tox soles lex. weet fox customs duly, excise duly, service lox, cess and other material sictulary aus applicable ta i. Ib] Accerding to the fnfermation and explanations given to us, no unctsouied Oo cunts payable in respect of neorne tax, wealth fese soles tax, customs duty, excise qhly. service tex ond cass wore In aftears, 05 at 31+ March, 2010 fer a petied of more thon sie months from the date they became peysble, Ic} According to the Information and explanations given to us there cre no Guns of voles tax Income icx. customs duty, waollh tox excke duly, senice tox ond cess which have nat been depasited on account of cny dispute. 10, The company has no accumulated losses at Ihe end of the financiol yeor. Tne: Company hes nol Incurred cath lesses Guring the financial yecr covered by our audit Grid has pot incured cash losses ching the immediately preceding financial year. 11. ir our opinion and according fo the information ond expicnathons glven To us. the Company hes not defoutled repayment of dues fo any fina! inifutlon os barks. Further, the company has not sued ony debentures and hence c ot the ‘Cedet. fo that extent, sno! capicable:VISHNU AND COMPANY Chartered Accountants [Sole Proprietor : CA VISHNU PRAKASH KANKANI} pio. 3-2-943/1, Abhishek Ntene, Near Genoeb Texaple, ‘Mathiguds-Badi Chowdi Lane, dq, HYDERABAD-500027 [A-P.] 9440 609 384 & eMail Box ID i Hello : 046-2474 0999, iw al 12. tn our opinion 9nd according to the informaiion ‘ond expionations given to Us. tne ae ee tex not grarited lors ond advances on the Dass of seevily Py way of pledge of snares, debentures ‘and other securities, 10th our opicion. the company is not a chit hind er a ric / 2 mula’ benefit fund / sacety.” meratore. Ihe provisions of clause bai} of the Crcler ae nc} ‘applicable to Ihe company: Icth our opinion. the company is net deciing in or trading ip theres, securities, Hebentutes end other Investments. Accordingly, the provisions of cicuse Afeiv] of the: ‘Order are nat applicobie to the company. 15, According to the Information ond expinations elven to us, the comehy has not given guarantees for]oans taken by ofnars from banks or francial instinations. 16. in aur opinion, the tem loans obtained by the compony were appied for the purposes for which they were obtained, 7.nccording 4e the information and explanations given fo us end on 0 overall eee an of tha boone sheet of fe compony, we repor that no funts raed! oF arr bask hove been used for fong-ferm investments. No long-term func have Pee pied ta france ihest-term assets except he permanent working CAI Ja. The company har not mode preferential aloiment of shares lo paries coe cre paries covered in the regater mcintained under secan 90] of he Companies ‘Act, 1958. 19, The company hes not istiedl any Gabentures; therefore the provisions relating 10 cloute 4[s) of the Ondar are not appicabie te the company. 20, the company hes not raised any money by way of public swe duff the vor. 21. Aecotoing to the Informetien and explanations @iven to us. no froud on of by the aectpany nos been nofced er reported diving the coune ef our oud. Hyderobad 17 September, 2010 Sri Srinivasa Dairy Products P LidSRI SRINIVASA DAIRY PRODUCTS PRIVATE LIMITED. 1 hir445, Fae ani: Koti HYDERABAD 0/009 [A P ) ALANCE SHEET AS AT-318T MAROM, 2010 _tncunt in upon) Paes Eh Rea Fast sawaO10 saan. ‘SSUES ERE 4+ SHARE HOLDERS FLNDS Share Gentil 4 4ano,oae a) Share Aaplcston Meney s2p78.000 bb Raserves & Sure 2 m40a75 € Unread Loare 3 _16.408035 exassz10 D715 2 LOAN FUNDS, ‘Seer0d Looms 4 tors zezinin mene mais 4, Dama Te Linbty aataTe sgo17a5 a=, Ez ‘AEPLIGATION GF FUNDS, 4. FRED ASSETS: s acne Bich sieve.n18 81,998,668 {ps9 Onpreceuon ax st0;108 24,706.155 Net leek gat sesosi Caplel Wain Progmes 2.087.305. a7 2. CURRENT ASSETS LOANS & ADVANCES Sta 6 suse © Suny Oors 5 aidesaes ‘loa 8 AWANCES * _seea tons ae aot: cUCUT LABIITIES A PROWISONS comet isthiee 20 sostze0 Spears 1 taste ae Wer Cron Aan se. 2. isceLLaneous oeexomae 2 {To Dre setont nat wefan lf acfatso) eat feos a Ss aESRU SRINIVASA DAIRY PRODUCTS PRIVATE LIMITED -¥4-6:468, Eaumin Bava. Keuki, HYDERABAD-S10027 [A PJ [SCHEDULES FORMING PART OF BALANCE SHEET AS AT 31-03-2010 = (Ansan tn Rupees) Bartealare aa CT saune wva0a ‘SCHEDULE. (: SHARE CAPITAL Auroras Capital ‘500000 Equly shares of Ro:1OF sch 000800 sp0an00 evne, Subscribed & Pald up Copio! 400000 Eaaity Shares of Re. 10 each ty paid 90000 s4oncoc0 [hkte: Since Me carnpamyla formed under Cheetor%, the viol ofthe Share capi for Consideration ber than east == aE = 2 SURPL Proft& Loss Acsount soneatrs se01389 aE, aa ‘SCHEDULE. 5: SECURED LOANS. Punjab Nations! Benk-Oventiog AtcNo. 12413 2eenoase asaerser {ored overdo opal Equtshle Merging of he Immovable Propet of Deore & Ys Fairity Weer) ‘pun Nations) Berd-Term Loan As Ma 10528 ° eno {Sooured ugainet Hypethocation of Cols Room) Pur National Bont-TL-19568 sao 1388278 {Gecured eget Hypathoesion of Cold Foc) Purl Noone Bank TL-10665 sonia sresnot {Secures oye ypeinecnton of Col Risa) HFC Bank-Ces Lou Tem Laan sane zene {Secured againe! Hype. of Motor Car APOD BP 0880) roaT 7282 -ess070 a, sxaen04‘gRI SRINIVASA DAIRY PRODUCTS PRIVATE LIMITED 1 -4-45, Cann Ber, Koel, HYDERABADSS00027 (AP) ae eT aS, 0 ‘S %.‘SRI SRINIVASA DAIRY PRODUCTS PRIVATE LIMITED W 4-463, Essenin ase, Koti, HYDERABAD -S00Q77 1A.) SCHEDULES FORMING PART OF BALANCE SHEET AS AT 31.09.2010 omaunt in Rupees). Pardes Zeal Ua RAI0 4312009 SCHEDULE 7: SUNDRY DEBTORS (Unsecured and camwcared Good) Morn tan ei reontve ° 75749 Oners 22200004 weao020 ae are SCHEDULE. © CASH 8 BANK BAL ANCES 3th in Hand s2naesa 1430 ast at Bark sorez 25197 = Sa 2B ‘Advanta recoverable csth oF ind tor vain {o be recpived (unsecurad and condos good) se0er0 1480162 Deposits: Tr3e08s, BOETES Ince Tam Paid Never ‘oonDo0 Ea) ‘Adrences to Suppers ara sa512 ‘Amounis Recoveratie hom Doctors Tes0st 1750508 == ee ‘SSHEDULE: 10: CURRENT LIABLITES ‘Sundry Creditors, 1084191 e27SH23, Provisions ‘Brae 2880174 ‘Adiors Reruenrtion 0800 0000 ae, ee ‘SCHEDULE. (1: PROVISIONS Provision for Inenme-Tae ‘a2008 2ae0e2 Proviolon for Finga BeneMt Tax ° Q == = (1 the extocr nce Wiaan OW or Adfatad) i wien of cng (009 oF titi Amour) Hos: peer wan ‘Datered Expensoa on Viry BoardCH NOTES ON ACCOUNTS: STATEMENT OF ACCOUNTING POLICIES; 2 5. Basis of Preparation of Financial Statements: Financial Statamants have been prepared under the historical cost convention, 19 accordance with the generally accepted uccounting principles and provisions of the Companies Act, 1956 es applicable to this Company. Accounting Policies not specifically referred to otherwise ara consistent and in consonance with the gencrally accepted accounting principles followed by the ‘Company. Basis of Accountingt All tngome and Expenditure Items are recognised on accrual basis, except as stated [If any] hereunder. Fixed Assets & Depreciation: Fixed Assets ate stated at cost less depreciation. Cost comprises of Purchese Price (Net of VAT Credit) and directly attributable cost of bringing the asset to Its working condition for the Intended use. Depreciation is provided on pro-rate basis, from the date the assets have buen installed and put to use, under the Written-Down Value Method at the rates end In the manner specified under Schedule XIV of the Compantes Act, 1956. Revanye Recognition: Sales are recognized on the Dispatch of goods to customers and are recorded at Value Net of Sales Taxes [Value Added Tax ~ VAT/CST - Central Seles Tax]. Inventoriest Inventories ure valued as under (at quantities and valves certified by the management). Raw Materials “= at Gost (First In First Out) Work-In-Progress = at Cost of Production favelved Finished Goods at Cast of Production Coneumables — at Cost [First in First Out] Packing Materials ~ at Cost [First in First Out)Gratuity: erovision relating to Gratulty is not accounted far in books of accounts, same will be aceounted as and when paid, Releted Party Transactions & Cash Flow Statement: petzils regarding Related Party Transactions and Cash Flow Statement, as pet Recounting Standard — 18 & 3 respectively, are net given as the same are not ‘applicable to the company, Forsign Currency Trensactions: No Foreign Currency Transactions were entered Into by the company during the year under audit. Income Taxi ‘a. The Company computes current tax liability as per the provisions applicable under the Income Tax Act, 1961 and Rules. bh. Deferred tax, If any, for Uming differences between tax profits and book profits ts accounted for as per the Accounting Standard 22, Saecounting for TTaxen Income’. ‘Sri Srinivasa Dairy Products P Ltd, HyderabadNOTES ON AccoUNTS 1. Contingent Liebilities not provided for in Books of Accounts: Nit 2 Quantitative nformation: Installed Capacity Product Description Asat As at 34-03-2040 | 31-03-2009 Mix [Kas] ‘4500000 1s0g000 Tee-Cream [Ltrs.] 2320000 2100000. NOTE:- installed capasity is taken by annustizing the daily production capacity 28 given by the management @ 330 (L.¥. 300] working deve Ber year. Actual Production Product Description ‘As at | As at 34-03-2010 | _ 31-03-2009 ilk Mix [kgs.g 1297450 1107581 Iee-Cream [Ltrs.] 2132093 1686237 Turnover (Oty. in Litres/Kgs..and Rs. In Lacs) Agat As at Product Deséripiion 31-03-2010 31-03-2008, Vatue | Oty. _ Value Mike Pix Tapes 35.53| 92745 | 51.45 Ice-Cream [Incl. Taxes] | 2139993 1426.58 {695393 1160.65 Raw Material Consumption (indigenous) 1 in Litees/Kgs. and Rs. Ta Lacs} eS (Qty. s/h As at ‘As at Product Description 31-03-2020 31-03-2009 “Oty. | Vale Qty. [~ Value | Mi 439076 |" "37.91 | 119472 | 27,96 Butter / Cream 244739 | 245.02 | ~ 416812 | 138.01 ‘Sugar 203071 163244 | 32.72 ‘Skimmed Milk Powder [Simpy 156246 134697 | 3 Vegetable Oil & Sth 73228 65381 ‘Sri Srinivasa Deiry Products P Li Led fccasyNote: The Yield of Finished Products to Material Consumed Is mere than 100% Which i mainly on account of consumption of water and infection of alr In the Process of making the Finished Product [{ce-Cream]. Previous Year figures ere regrouped and re-arranged to correspond with current years groupings, The Company has been following the Accounting Standard - 22 (AS-22) “Accounting for Taxes on Income", issued by the Institute of Chartered Acecuntants of India. ‘The deferred tax liability for the year ended on 31% Mach, 2010 ts computed at Rs.3,28,530/- {represents the depreciation difference) and is being added to the opening balance of Rs.19,32,746/- and reflected in the Balance Sheet At Rs.22,61,276/-. Directors" Remuneration: SI) Particulars as on ‘ason No. __ 31-03-2010 | 31-03-2009 1,_[ Sri Govind Shah — WB. 40,50,000 | 10,50,000 2,_| Sri Sudhir Shah — Director 7,50,000| 7,50,000 | 3. | Sci Sunil Shah — Director 7,50,000 | 7,50,000 4,__| Stl Amit Shah — Director 6,00,000 | 3,75,000 5. [Sri Amash Shah — Director 6,00,000 Nil Total: 37,506,000 | 29,25,000 Auditors’ Remunsration: Si, | Partiautars ‘As on aS on No. 34-03-2010 | 31-03-2909 1, | Statiitory Audit Fees 25,000, 25,000. 2. [Tax Audit Fees 20,000 20,000 3._[ Taxation & Company Law Matters 5,000 5,000 “Total: $0,000, 50,000 Foreign Exchange Earnings & Outgos Foreign Exchange Earnings : “Nite Forelgn Exchange Outgo. : “NIE ‘The names of Small Scale Industrial undettekings, to which, amounts gayable ‘end outstanding for more than 30 days as on the balance sheet da fumished by the management. However, no claims for I Payments to SSI units have been received during the year lability is expected in futshe company has, in order to increase the felt presence in market, (eased a commercial premises In a big mall ‘Inorbit Mall’ and has pald total rent of Rs.302130/- [rupees three lakhs two thousand one hundred and thirty only! for the period upto 31-03-2010, But as the facilities at the mal! ere not ready to cornmence the company’s sales operations, the amount paid 3s rent has not been charged to profit. The company's sales in tha mall have commenced from April’2010. 10. Palse have been rounded off to the nearest Rupee. 21. Schedule 1 to 21 from integral part of Accounts. Per our report of even date attached. For Vishnu And charte; Proptiator ‘ {Vishnu Prakash Kava Membership Ne. 207603 vigaatad or ‘Sri Srinivags Dairy Produeta Pvt. Lid. o nS Gese Monagieg Dicactor ) Oiractor, Hyderabad 17 September 2010 Sri Srinivasa Dairy Products Pid, Hyderabad