Deloitte Chartered Accountants Haskins Sells Ahmedabad ...€¦ · Drive In Road, Nr. Udgam School, Thaltej, Ahmedabad-380 054 Ph.: (0) 079-26856795, (M) 9722359139 This is to certify

Deloitte Haskins & Sells

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SHREE SHUBHAM LOGISTICS LIMITED

Report on the Standalone Financial Statements

Chartered Accountants 19th Floor, Shapath-V S. G. Highway Ahmedabad - 380 015 Gujarat, India

Tel.: +91 (079) 6682 7300 Fax: +91 (079) 6682 7 400

We have audited the accompanying standalone financial statements of Shree Shubham Logistics

Limited ("the Company"), which comprise the Balance Sheet as at 31'1 March, 2016, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information.

Management's Responsibility for the Standalone Financial Statements

The Company's Board of Directors is responsib le for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these standa lone financial statements that give a true and fa ir view of the financial position, financial performance and cash flows of the Company in accorda nce w ith the accounting principles genera lly accepted in India, including the Accounting Standards prescribed under section 133 of the Act, as app licable.

Th is responsibility also includes maintenance of adequate accounting records in accordance wit h the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial contro ls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fa ir view and are free from materia l misst atement, whether due to fraud or error.

Auditor's Responsibility

Our responsibi lity is to express an opinion on these standalone financial statements based on our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made thereunder and the Order under section 143 (11) of t he Act.

We conducted our audit of the standalone financial statements in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that we comply with

~ ;thical requirements and plan and perform the audit to obtain reasonable assurance about whether \\-he financial statements are free from material misstatement.



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An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financia l statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of materia l misstatement of the financia l statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financia l control relevant to the Company's preparation of the financia l statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company's Directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the standalone financial statements.

Opinion

In our opinion and to t he best of our information and according to the explanat ions given to us, the aforesaid standa lone financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31st March, 2016, and its loss and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by Section 143 (3) of the Act, we report that:

a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.

b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books.

c) The Ba lance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account.

d) In our opinion, the aforesaid standalone financial statements comply with the Accounting Standards prescribed under section 133 of the Act, as applicable.

e) On the basis of the written representations received from the directors as on 31st March, 2016 taken on record by the Board of Directors, none of the di rectors is disqualified as on 31st March, 2016 from being appointed as a director in terms of Section 164 (2) of the Act.

f) With respect to the adequacy of the internal financial controls over financia l reporting of the Company and the operating effectiveness of such contro ls, refer to our separate Report in

~ "Annexure A" . Our report expresses an unmodified opinion on the adequacy and operating l effectiveness of the Company's i nterna I Ii na ncia I controls over fin a ncia I reporting.


Chartered Accountants 19th Floor. Shapath-V S. G. Highway Ahmedabad - 380 015 Gujarat, India

Tel.: +91 (079) 6682 7300 Fax· +91 (079) 6682 7400

g) With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Aud itors) Rules, 2014, in our opinion and to the best of our information and according to the exp lanations given to us:

i. The Company has disclosed the impact of pending litigations on its financial position in its financial statements.

ii. The Company did not have any long-term contract including derivative contracts for w hich there were any material foreseeable losses;

iii. There were no amounts w hich were requ ired t o be transferred to t he Investor Education and Protection Fund by the Company.

2. As required by the Companies (Auditor's Report) Order, 2016 ("the Order") issued by the Central Government in terms of Section 143(11) of the Act, we give in "Annexure B" a statement on the matters speci fied in paragraphs 3 and 4 of the Order.

Place: Mumbai Date: May2..:t; 2016

For Deloitte Haskins & Sells Chart red Accountants (Firm' Registration No 117365W)

~ Sunil S. Kothari Partner (Membership No. 208238)

CERTIFICATE

8-21, Hari Om Park, Drive In Road, Nr. Udgam School, Thaltej, Ahmedabad-380 054 Ph. : (0) 079-26856795, (M) 9722359139

This is to certify that I have examined the credit arrangement letter No. 56/CBGAHM/88064 dated September 15, 2015 issued by ICICI Bank Limited (the "Lender") to Kalpataru Power Transmission Limited (the "Borrower"), having its registered office at 101 , Part-Ill , G.l.D.C. Estate, Sector -28, Gandhingar-382 028 (Gujarat), sanctioning a loan of Rs. 1,050.00 million vide the Facility Agreement dated September 23, 2015 entered into between, inter alia, the Borrower and Lender.

The Purpose of the Facility as per ·terms of the Facility Agreement is Part fund ing the capital expenditure incurred during the last six months and Transaction related expenses.

The latest disbursement of the Facility was avai led of on May, 2016 for an amount of Rs. 133.28 mi llion and on June 20, 2016 for an amount of Rs. 292. 39 million the end use purµose stated by the Borrower at the time of disbursement was Part funding the capital exp...:nditure.

I have verified the books of accounts and other related documents and records maintained by the Borrower. Accordingly, I hereby confirm and certify the following to you as the:-

1. The Disbursed Amount Rs. 425.67 Million has been utilized by the Borrower as on date.

L. The Utilized Amount has been applied by the Borrower in accordance with the Purpose stated in the Facility Agreement. The actual usage is as detailed in the Annexure I of this Certificate.

The Utilized amount has not been used · by the Borrower for any speculative or capital market purposes.

The above certificate is being issued at the request of the company on the basis of

recc ids/documents produced before me and explanation information given to me.

Place: Ahmedabad

0 31·" August 01 , 2016

For, Tara Jain Chartered Accountants

~Q.M-) cJY) ( TaraJai~ M. No. 92153

Annexure I

Break up of end usage of Disbursed funds of in May & June 2016.

Sr. No Head of Expenses Amount (in millions)

1 Factory & Other BuildinQ 88.76 2 Plant & Machinery 318.58 3 Electric Installation 18.33

Total 425.67


ANNEXURE "A" TO THE INDEPENDENT AUDITOR'S REPORT


Tel.: +91 (079) 6682 7300 Fax: +91 (079) 6682 7400

(Referred to in paragraph 1 (f) under 'Report on Other Legal and Regulatory Requirements' of our report of even date)

Report on the Internal Financial Controls Over Financial Reporting under Clause (i) of Subsection 3 of Section 143 of the Companies Act, 2013 ("the Act")

We have audited the internal financia l cont ro ls over financial reporting of Shree Shubham Logistics Limited ("the Company") as of March 31, 2016 in conjunction with our audit of the sta ndalone financia l statements of the Company for the year ended on that date.

Management's Responsibility for Internal Financial Controls The Company's management is responsible for establishing and maintaining internal financia l controls based on the internal control over financial reporting criteria established by the Company considering the essentia l components of intern al contro l stated in the Guidance Note on Audit of Internal Financia l Controls over Financia l Reporting issued by t he Institute of Chartered Accountants of India. These responsibilities include the design, implementation and maintenance of adequate internal financia l controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to company's policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.

Auditor's Responsibility Our responsibility is to express an opinion on the Company's interna l financial controls over financia l reporting based on our audit. We cqnducted our audit in accordance with the Guidance Note on Audit of Internal Financia l Controls Over Financial Reporting (the "Guidance Note") issued by the Institute of Chartered Accountants of India and the Standards on Aud iting prescribed under Section 143(10) of the Companies Act, 2013, to the extent applicab le to an audit of internal financia l controls. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obta in reasonable assurance about whether adequate internal financial controls over financial repo rting was established and maintained and if such controls operated effective ly in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and thei r operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor's judgement, including the assessment of t he risks of material misstatement of the financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis \:or our audit opinion on t he Company's internal f inancial controls system over financial reporting.


Chartered Accountants 19th Floor, Shapath-V S. G. Highway Ahmedabad - 380 01 5 Gujarat, India

Tel.: +91 (079) 6682 7300 Fax: +91 (079) 6682 7400

Meaning of Internal Financial Controls over Financial Reporting A company's internal financial contro l over financial reporting is a process designed to provide reasonable assurance rega rding the reliability of financial reporting and the preparation of financial statements for externa l purposes in accordance w ith genera lly accepted accounting principles. A company's internal financial contro l over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurate ly and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transact ions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorisations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or t imely detection of unauthorised acquisition, use, or disposition of t he company's assets that could have a material effect on the financia l statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting Because of the inherent limitations of internal financial controls over fin ancial reporting, including the poss ibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any eva luation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial contro l over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion In our opinion, to the best of our information and according to the exp lanations given to us, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial contro ls over financia l repo rt ing were operating effectively as at March 31, 2016, based on the internal control over financial reporting criteria estab lished by the Company cons idering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financia l Reporting issued by the Institute of Chartered Accountants of Ind ia.

Place: Mumbai Date: May.l-'t, 2016

For Deloitte Haskins & Sells Cha tered Accountants (Fir 's Re istration No 117365W)

Partner (Membership No. 208238)



Tel.: +91 (079) 6682 7300 Fax: +91 (079) 6682 7400

ANNEXURE B TO THE INDEPENDENT AUDITOR'S REPORT (Referred to in paragraph 2 under 'Report on Other Lega l and Regulatory Requirements' section of our report of even date)

(i)

(ii)

(iii)

(iv)

(v)

(a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets.

(b) The fixed assets were physically verified during the year by the Management in accordance with a regular programme of veri fication which, in our opinion, provides for physical verification of all the fixed assets at reasonable intervals. According to the information and explanation given to us, no material discrepancies were noticed on such verification.

(c) Accord ing to the information and explanations given to us and the records examined by us and based on the examination of the registered sa le deeds provided to us, we report that, the title deeds, comprising all the immovable properties of land and buildings, are held in the name of the Company as at the balance sheet date. Immovable properties of land and buildings whose title deeds have been pledged as security for loans are held in the name of the Company based on t he confirmations directly received by us from lenders. In respect of immovable properties of land and buildings that have been taken on lease and disclosed as fixed asset in the financial statements, the lease agreements are in the name of the Company, where the Company is the lessee in the agreement.

As explained to us, the inventories were phys ically verified during the year by the Management at reasonable intervals and no material discrepancies were noticed on physical verification.

The Company has not granted any loans, secured or unsecured, to companies, firms, Limited Liability Partnersh ips or other parties covered in the register maintained under section 189 of the Companies Act, 2013.

In our opin ion and according to the information and explanations given to us, the Company has complied with the provisions of Sections 185 and 186 of the Companies Act, 2013 in respect of grant of loans, making investments and providing guarantees and securities, as applicable.

Accord ing to the information and explanations given to us, the Company has not accepted any deposits.

Having regard to the nature of the Company's business I activities, reporting under clause (vi) of the Order is not appl icab le.



Tel.: +91 (079) 6682 7300 Fax: +91 (079) 6682 7400

(a) The Company has generally been regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, Employees' State Insurance, Incometax, Sales Tax, Service Tax, Custom Duty, Value Added Tax, Cess and other material statutory dues app licable to it. The Company does not have any dues of Excise duty during the year.

(b) There were no undisputed amounts payable in respect of Provident Fund, Employees' State Insurance, Income-tax, Sa les Tax, Service Tax, Custom Duty, Value Added Tax, cess and other material statutory dues in arrears as at March 31, 2016 for a period of more t han six months from the date they became payable. The Company does not have any dues of Excise duty during the yea r.

(c) There are no dues of Income Tax, Sales Tax, Service Tax, Customs Duty, Va lue Added Tax and Cess which have not been deposi ted as on March 31, 2016 on account of di sputes.

(vi ii) In our opinion and according to the information and exp lanations given to us, the Company has not defaulted in the repayment of loans or borrowings to financial institutions, banks and government and dues to debenture holders.

(ix) The Company has not raised moneys by way of initial public offer or further public offer (including debt instruments). In our opinion and according to the information and explanations given to us, money rai sed by way of term loans have been applied by the Company during the yea r for t he purposes for which they were raised, other than t emporary deployment pending appli cation of proceeds.

(x)

(xi)

(xi i)

(xiii )

To the best of our knowledge and accord ing to t he information and explanations given to us, no fraud by the Company and no material fraud on the Company by its officers or employees has been noticed or reported during the year.

In our opinion and according to the information and explanations given t o us, the Company has pa id I provided for managerial remuneration in accord ance with the requisite approvals mandated by the provisions of section 197 read with Schedule V to the Companies Act, 2013.

The Company is not a Nidhi Company and hence reporting under clause (xii) of the Order is not app licable.

In our opinion and accord ing to the information and explanat ions given to us the Company is in compliance w ith Section 188 and 177 of the Companies Act, 2013, where applicable, for all t ransactions with the related parties and the deta ils of related party t ransactions have been disclosed in the financial statements etc. as required by the applicable accounting standards.



Tel. : +91 (079) 6682 7300 Fax: +91 (079) 6682 7400

(xiv) During the yea r the Company has not made any preferentia l allotment or private placement of shares or ful ly or partly convertible debentures and hence reporting under clause (xiv) of t he Order is not applicable to the Company.

(xv) In our opinion and according to the information and explanations given t o us, during the year the Company has not entered into any non-cash transactions with its directors or persons connected with him and hence provisions of section 192 of the Companies Act, 2013 are not applicable.

(xvi) The Company is not required to be registered under section 45-1 of the Reserve Bank of India Act, 1934.

Place: Mumbai Date: May2 '7; 2016

For Deloitte Haskins & Sel ls Chart " red Accountants (Firm Registration No 117365W)

L~ Suni l S. Kothari Partner (Membership No. 208238)

Shrcc Shubham Log1stocs Lom1tcd

I

I. EQUITY AND LIABILITIES

Shareholders' funds (a) Share Capital (b) Reserves and Surplus

•Non-Current Liabilities (a) Long Term Borrowings (b) Deferred Tax Liabilities (Net) (c) Long Term Provisions

Curre nt Liabilities (a) Short Term Borrowings (b) Trade Payables

(i) Micro and small enterprises (ii) Others

(c) Other Current Liabilities (d) Short Term Provisions

II.Assets

Non-current assets (a) Fixed assets

(i) Tangible assets (ii) Intangible assets

(iii) Capital work-in-progress (b) Non current investment (c) Long te rm Loans and Advances (d) Other non-current assets

Current Assets (a) Inventories (b) Trade receiva bles (c) Cash and cash equivalents (d) Short-term loans and advances (e) Other Current Assets

Particulars

Total

SH REE SHUBHAM LOGISTICS LIMITED Balance Sheet as at 31st March 2016

Note No.

'2' '3'

'4' '5'

'6'

'7'

"8' '9'

'10'

'11' '11'

'11' '12'

'13' '14'

'15' '16' '17' '18' '19'

As at 31st Ma rch 2016 As at 31st March 2015

Rs. Rs.

65,00, 78, 760 65,00, 78, 760 42,69,69,265 82,06,28,912

1,07, 70,48,02S 1,47,07,07,672

3,59,57,43,066 3,03,39,09,940 87,08,349 19,93,36,085 22,79,364 21, 75,760

3,60,67,30,779 3,23,54,21, 785

66, 70,81,289 74,65,57,809

- -21,09,62,431 27,25,40,161 76,64,13,843 83,55,03,514

10,36,009 83,65,861 1,64,54,93,572 1,86,29,67,345 6,32,92, 72,376 6,56,90,96,802

4,48,24,31,342 4,02,50,21,864 1,80,35,968 2,80,18,262

3,43,59,092 40,91,13,944 9,95,63,990 6,06,43,990

26, 79,89,996 25,38,53,656 3,84,77,500 6,59, 77,500

4,94,08,57,888 4,84,26,29,216

13,50,60,322 55,87,96,658 90,66,11,413 85,68,87,987

6,17,43,153 7,89,10,657 6, 78,62,411 10,68,11,530

21,71,37,189 12,50,60,754 1,38,84,14,488 1,72,64,67,586

See accompa nying notes forming part of the financial statements '1to43'

Tota l 6,32,92, 72,376 6,56,90,96,802

In terms of our report attached For De loitte Haskins & Sells

"~:::~·'"' -(f. Cha~red A~ts

~~ ~ (Komol faloJ Sunil S. Kothari (Dr. Prakash Bakshi) Partner Managing Director Director Mumbai : May 27,2016 DIN:- 02628945 DIN:- 00269810

'1i'~<;;~ - ~~~ (Vishesh Singhvi) (Puneet Bhandari) Chief Financial Officer Company Secretary

MUMBAI : May 27,2016

Shree Shubham Logistics Limited

SH REE SHUB HAM LOGISTICS LIMITED Statement of Profit and Loss for the Yea r ended 31st Ma rch 2016

For the year ended 31st March For the year ended 31st March Particulars Note No. 2016 2015

Rs. Rs.

Revenue

Revenue from operations '20' 2,48,87.77,079 3,13,98,80,155

Other Income '21' 1,07,02,436 23,07,573 Total Revenue 2,49,94, 79,515 3,14,21,87,728

Expenses Purchases of Stock in trade• (Refer note 36) 1,27,56,27,806 1,48,92,82,943 Changes in Inventory of Stock in Trade '22' 40,03,11,140 28,77,90,556

Employee Benefits Expense '23' 20,39,71,847 20,00,00,499

Finance Costs '24' 46,13,92,911 34,22,71.797 Depreciation and Amortization Expense '25' 12,92,92,160 9,85,23,877

Other Expenses '26' 57,96,53,840 53,50,32,871

Total Expenses 3,05,02,49, 704 2,95,29,02,543

Profit/(Loss) before tax (55,07,70,189) 18,92,85,185

Tax expense: Current tax 9,90,511 3,99,28,387

MAT Credit Entitlement/Reversal 3,25,26,686 (3,99,28,387)

Deferred tax (19,06,27, 739) 7,11,34,837 Profit/(Loss) for the Year (39,36,59,647) 11,81,50,348

Earning Per Equity share of Rs. 10 each: '42'

Basic (8.17) 2.34

Diluted (8.17) 2.19 See accompanying notes forming part of the financial

statements '1to43'

*Includes Primary Processed Products

In terms of our report attached

Fo~;tt, H"k;"' & S•ll• '" ood o~olf of '"':i,'

Ch'"~'°"" t:st ~ ~ ~ Sunil S. Kothari (Dr. Prakash Bakshi)

Partner Managing Director Director

Mumbai : May 27,2016 DIN:- 02628945 DIN:- 00269810 •

..J;~rs-~-- ~..fl?-~-r-tL ~ (Vishesh Singhvi) (Puneet Bhandari)

Chief Financial Officer Company Secretary


Shrcc Shubham Log1st1cs Limited

Cash flow statement for the Year ended 31st March 2016

Particulars

CASH FLOW FROM OPERATING ACTIVITIES:

Net profit before taxation, and extraordinary items

Adjustments for .

Depreciatio n

Finance Cost

Interest Received Unrealized Exchange Loss/(Gain)

(Profit)/Loss on sale of fixed assets

OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES

Adjustments for:

Trade and other Receivables

Loans and Advances

Inventories Trade and other Payables

CASH GENERATED FROM OPERATIONS

Income Tax NET CASH FLOW FROM - OPERATING ACTIVITIES

CASH FLOW FROM INVESTING ACTIVITIES:

Purchase of fixed assets (Net of Subsidy)

Proceeds from Sale of fixed Assets

Purchase of Investments

(lncrease)/Decrease in Bank balances not to be considered as Cash and Cash Equivalents

Interest Received NET CASH USED IN INVESTING ACTIVITIES

CASH FLOW FROM FINANCING ACTIVITIES:

Share Issue Expenses

Dividend including Tax on Dividend

Proceeds from Long Term Borrowings

Repayment of Long Term Borrowings

Net increase/ (decrease) in Short Term borrowings

Proceeds from receipt of Capital Subsidy

Proceeds from receipt of loan from related party

Repayment of Loans to related par ty

Finance Cost [Including interest capitalized Rs.27,567,602 (Previous Year Rs. 77,229,952)) NET CASH FLOW FROM FINANCING ACTIVITIES

NET INCREASE IN CASH ANO CASH EQUIVALENTS

Cash and Cash Equivalents at the beginning of the year

Cash and Cash Equivalents at the end of the vear

Footnotes:

For the year ended 31st March

2016

Rs.

(55,07, 70, 189)

12,92,92,160

46,13,92,911

(24,16,288)

8,90,946

(44,07,282)

3,39,82,258

(16,71,376) 4,18,72,291

42,37,36,336

(16,54,29,69S)

33,24,89,813

(8,80,35,311) 24,44,54,502

(26,68,98,605)

77,11,000

(3,89,20,000)

1,94,30,203

24,16,288 (27,62,61,114)

(76,46,258)

76,15,69,967

(23,98,02,596)

(7,94,76,520)

4,96,49,785

70,00,00,000

(73,00,00,000)

(42,02,25,067)

3,40,69,311

22,62,699

3,64,07,474

3,86,70,173

( i) The Cash Flow Statement has been prepared under the "Indirect Method" as set out in Accounting Standard 3 - Cash Flow Statements.

(ii ) Cash and Cash Equivalents:

Cash and Bank Balance (Note 17)

Less:- Deposits Under lien with Banks and earmarked balances

Cash and Cash Equivalents as per Cash flow statement

(iii) Previous year's figures have been regrouped to confirm with those of the current year.

\ In t~rms of our report attached For Deloit!\ Haskins & Sells

Chatt• red} ccountants

~w~ Sunil S. Kothari

Partner

Mumbai : May 27,2016

6,17,43,153

2,30, 72,980

3,86,70,173

(Dr. Prakash Bakshi)

(Managing Director) DIN:- 02628945

(Vishesh Singhvi)

Chief Financial Officer

MUMBAI : M av 27,2016


2015

Rs.

18,92,85,185

9,85,23,877

34,22, 71, 797

(23,07,573)

(1,18,045)

5,13,455

62,81,68,696

(24,05,39,681) (59,79,079)

27,64,56,992

(8,82,12,050)

56,98,94,878

(10.48,07,280) 46,50,87,598

(75,04,70,689)

26,10,061

(6,06,43,990)

(3,09,43,183)

23,07,573 (83,71,40,228)

(3,27,42,576)

(74,31,522)

64,01, 75,684

(20,96,20,152)

33,50,69, 777

(33,35,04,987)

39,19,46,224

1,98,93,594

1,65,13,880

3,64,07,474

7,89,10,657

4,25,03,183

3,64,07,474

(Director)

OIN:-00269810

~~li-(Puneet Bhandari)

Company Secretary


Notes Forming Part ot F1nanc1al Statements

NOTE ; '2' SHARE CAPITAL As at 31st March, As at 31st

2016 March, 2015 Rs. Rs.

AUTHORISED ; 84,000,000 (Previous Year 84,000,000) Eouity Shares of Rs.IO each 84,00,00,000 84,00,00,000

16,000,000 (Previous Year :i.6,000,000) Cumulative Redeemable Preference Shares or Rs.10 each 16,00,00,000 16,00,00,000

ISSU ED, SUBSCRIBED and PAID-U P; 49,127,876 (Previous Year 49,127,876) Equity Shares of Rs.10 each fully paid up 49,12,78,760 49,12,78,760

lS,880,000 (Previous Year 15,880,000) 4% Cumulative Redeemable Preference Shares of Rs.10 each fu lly paid up 15,88,00,000 15,88,00,000

Total 65,00,78,760 65,00,78, 760

2.1 Reconci liation of t he number of shares and amount outstanding at the beginning and at the end of the year.

Equity Shares As at 31st March, 2016 As at 31st March, 2015

Number Amount in Rs. Number Amount in Rs.

Shares outstanding at the beginning of the year 4,91,27,876 49,12, 78, 760 4,68,00,000 46,80,00,000

Shares issued during the year 23,27,876 2,32,78, 760

Shares outstanding at the end of the year 4,91,27,876 49,12,78,760 4,91,27,876 49,12, 78, 760

Preference Shares As at 31st March, 2016 As at 31st March, 2015

Number Amount in Rs. Number Amount in Rs. Shares outstanding at the beginning of the year 1,58,80,000 15,88,00,000 1,58,80,000 1S,88,00,000 Shares outstanding at the end of the year 1,S8,80,000 l S,88,00,000 l ,S8,80,000 1S,88,00,000

2.2 Details of shareholders holding more than 5% shares in the company as at the end of the year (a) Equity Shares

Name of Shareholder As at 31st March 2016 As at 31st March, 2015

No. of Shares held % of Holding No. of Shares held % of Holding Kaloataru Power Tr ansmission Limited 3 S8 so 000 72.97 3 S8 so 000 72.97 Aditya Gyanendra Bafna 27 62 soo S.62 27 62 500 5.62 Tano India Private Equity Fund II 70 07 876 14.26 70 07 876 14.26

(b) 4% cumulative Redeemable Preference Shares


No. of Shares held % of Holding No. of Shares held % of Holding Kaloataru Power Transmission Limited 135 00 000 8S.Ol 1,35,00,000 85.01 Shubhendra Kumar Bafna 11 22 000 7.07 11,22,000 7.07 Aditya Gyanendra Bafna 9 51 000 5.99 9,S1,000 5.99

Shree Shubham Log istics Limited

Notes Forming Part of Financial Statements

Z.3 Terms/Rights attached to Shares :

I (1) Equity Shares:

Each holder of Equity Shares of face value of Rs.10 each is entitled to one vote per share. The dividend proposed by the Board of Directors is

subiect to the approval of Shareholders in the ensuing Annual General Meeting. In the event of liquidation, the shareholders of equity shares are eligible to receive the remaining assets of the company after distribution of all preferential amounts in proportion to their

shareholdings.

(Z) 4% cumulative Redeemable Preference Shares :

Each holder of Preference Shares having par value of Rs.10 per share is not entitled to voling right on any resolution in General Meeting

except on resolutions which directly affect the rights attached to Preference Shares and by those cumulative Preference Shareholders

whose dividend is due for a period not less than 2 years preceding the meeting. Preference Shares are Cumulative, entitled to 4% dividend

on being declared by the Board of Directors which is subject to approval of the shareholders at the ensuing General Meeting.

2.4 Shares held by Holding Company

No. of Shares No. of Shares Name of Sharehol.der Type of Share As at 31st March, As at 31st

2016 March, 201S Ka lpataru Power Transmission Limited Equity Shares 3,58,50,000 3,58,50,000 Kalpataru Power Transmission Limited Preference Shares 1,35,00,000 1,35,00,000

2.5 As at 31st March 2016, 545,590 (Previous Year 545,590) equity shares Rs. 10 each were rese rved for issuance toward s outstanding

employees stock options granted.

NOTE: '3' RESERVES AND SURPLUS As at 31st March, 2016 As at 31st March

2015

Rs. Rs. (a) Securities Premium Account

Balance at the beginning of the year 35,96,00,482 28,09,21,818 Add:- Premium on Equity shares issued during the year - 11,14,21,240 Less:- Share issue Expenses - 3,27,42,576 Balance at the end of the year 35,96,00,482 35,96,00,482

(b} Surplus in Statement of Profit and Loss Balance at the beginning of the year 46,10,28,430 35,27,56,116 Add: Net Profit/(Loss} for the year (39,36,59,647) 11,81,50,348 Less: Depreciation charged to reserve (Refer Note 11.3} - 22,31,776 Less: Proposed Dividend on Preference Shares - 63,52,000 Less: Corporate Dividend Tax on above - 12,94,258 Balance at the end of the year 6,73,68,783 46,10,28,430

Total 42,69,69,265 82,06,28,912

Shrce Shubham logistics limited


I NOTE: '4' LONG TERM BORROWINGS

a. Debentures 70 (Prev·ous Year 70) 4.009% Compulsory Convertible Debentures@ 4,490,000 per Debenture

b. Term Loans

Secured Term Loans from Banks

c. Loans from related party

Unsecured Loans and Advances from related parties

d. Amount disclosed under the head "Other Current Liabi lities"

(Note 9)

TOTAL

As at 31st March, 2016

Non-Current Current Rs. Rs.

31,43,00,000

2,92,18,05,970 25,06,32,841

67,39,37,096 -

- (56,49,32,841)

3,59,57,43,066

As at 31st March, 2015 Non-Current Current

Rs. I Rs.

31,43,00,000

2,40,53,66,123 24,53,05,317

62,85,43,817 -

- (55,96,05,317)

3,03,39,09,940

4.1 The Company had issued 100 unsecured compulsory convertible debentures on 31st May 2013 having face value of Rs. 4,490,000 per debenture

carrying interest rate of 4.009%. During the year ended 31st March, 2015, the Company had converted 30 CCDs in to 2,327,876 equity shares. The remaining 70 CCDs shall be converted into equity shares ranking pari passu with the equity shares in FY 2016-17.

4.2 Term loans from Banks (a) Rs. 606,024,612 (Previous Year Rs.646,654,612) is secured by exclusive first charge on all the assets, including Land, Building and other assets, created out of the proceeds of the term loan and si tuated at Chomu, Kota, Jalgaon, Latur, Nagpur, ltarsi, Harda, Neemuch, Sagar, Ujjain,

Vidisha and Dewas and is also personally guaranteed by Mr. Aditya Bafna and Mr. Shubhendra Kumar Bafna. The Term Loan is repayable in balance 28 quarterly structured installments from May 31, 2016 and the current interest rate is 9.90%p.a.

(b) Rs. 690, 789,255 (Previous Year Rs. 743,089,255) is secured by exclusive fi rst charge on all the assets, including Land, Building and other assets, created out of the proceeds of the term loan and situated at Chomu, Kota, Jalgaon, Latur, Nagpur, ltarsi, Harda, Neemuch, Sagar, Ujjain,

Vidisha and Dewas and is also personally guaranteed by Mr. Aditya Bafna and Mr. Shubhendra Kumar Bafna. The term loan is repayable in ba lance 24 quarterly structured installments from May 31, 2016 and the current interest rate is 9.90% p.a .

(c) Rs. 59,343,283 (Previous Year Rs.187,095,003) is secured by first Pari Passu cha rge on movable and immovable assets of warehouses at

Jodhpur, Merta, Bikaner, Sri Ganganagar, Kota, Ramganjmandi, Unjha, Deesa and Rajkot and further collaterally secured by second charge on the stock and book debts and is also personally guaranteed by Mr. Aditya Bafna and Mr. Shubhendra Kumar Bafna. The Term Loan is repayable in balance 1 quarterly equal installment on May 7, 2016 and the current interest rate is 9.55% p.a.

(d) Rs. 16, 731,218 (Previous Year Rs 26,204,193 )is secured by first Pari Passu charge on movable and immovable assets of warehouses at Jodhpur, Merta, Bikaner, Sri Ganganagar, Kota, Ramganjmandi, Unjha, Deesa and Rajkot and further collaterally secured by second charge on

the stock and book debts and is also personally guaranteed by M r. Aditya Bafna and Mr. Shubhendra Kumar Bafna. The Term Loan is repayable in balance 7 quarterly structured installments from April 7, 2016 and the current interest rate is 9.55% p.a.

(e) Rs. 600,000,000 (Previous Year Rs 600,000,000) is secured by first Pari Passu charge over movable and immovable assets of warehouses at

Jodhpur, Merta, Bikaner, Sri Ganganagar, Kota, Ramganjmandi, Unjha, Deesa and Rajkot and is also supported by letter of comfort from our holding company. The Term Loan is repayable in 28 quarterly structured installments from October 15, 2016 and the current interest rate is 9.35% p.a.

(f) Rs. 2,969,577 (Previous Year Rs 5,117,478) is secured against Vehicles, repayable in the range of 14 to 17 balance monthly installments and the current interest rate is 10.25% p.a ..

(g) Rs. 304,080,866 (Previous Year Rs. 242,510,899) is secured against plant & machinery , equipment, other fixed assets and land & warehousing complexes constructed at Netra and is also personally guaranteed by Mr. Aditya Bafna and Mr. Shubhendra Kumar Bafna. The term

Loan is repayable in 32 quarterly equal installments from July 31, 2016 and the current interest rate is 10.25% p.a ..

(h) Rs. 192,500,000 (Previour Year Rs. 200,000,000) is secured by residual charge on fixed movable and immovable assets situated at Chomu, Kota, Jalgaon, Latur, Nagpur, ltarsi, Harda, Neemuch, Sagar,Ujjain, Vidisha and Dewas and is also personally guaranteed by Mr. Aditya Bafna and Mr. Shubhendra Kumar Bafna. The Term Loan is repayable in 15 quarterly st ructured insta llments from June 30, 2016 and the current interest rate is 10.25% p.a.

(i) Rs. 700,000,000 (Previous Year Rs NIL) secured by first Pari Passu charge over movable and immovable assets of warehouses at Jodhpur, Merta, Bikaner, Sri Ganganagar, Kota, Ramganjmandi, Unjha, Deesa and Rajkot and letter of comfort by holding company . The Term Loan is

repayable in 28 quarterly structured installments from June 30, 2019 and the current interest rate is 10.42% p.a. 4.3 Term Loans from bank amounting to Rs. 1,869,469,234 ( Previous Year Rs 2,045,553,962) are guaranteed by Mr. Aditya Bafna and Mr.

Shubhendra Kumar Bafna.

4.4 Rs. 630,562,485 ( Previous Year Rs. 62,854,3817) unsecured Loan from Holding Company is repayable after 31st March, 2017 and the current interest rate is 11.65% p.a.

4.5 Rs. 43,374,611 (Previous Year Rs. Nil) unsecured Loan from subsidiary of Holding Company is repayable after 31st March, 2017 and the current interest rate is 10.50% p.a.



NOTE: '5' DEFERRED TAX LIABILITIES (NET) As at 31st March, As at 31st M arch,

2016 2015

Rs. Rs.

a) Deferred Tax Liabilities:

Depreciation (A) 28,41,24, 768 21,96,31,999

b) Deferred Tax Assets:

Unabsorbed Depreciation and Business Loss 27,42,69,035 1,93,34,137

Others 11,47,384 9,61,777

(B) 27,54,16,419 2,02,95,914

Deferred Tax Liabi lities (Net) (A - B) 87,08,349 19,93,36,085

The Company has recognised deferred tax asset on unabsorbed depreciation as there is sufficient deferred tax liability on

the difference between the book balance and written down value of fixed assets under income tax.

NOTE : '6' LONG TERM PROVISIONS As at 31st March, As at 31st March,

2016 2015 Rs. Rs.

Provision for Employee Benefits 22,79,364 21,75,760 Total 22,79,364 21,75,760

NOTE : '7' SHORT TERM BORROWINGS As at 31st March, As at 31st March,

2016 2015

Rs. Rs. Secured

Loans repayable on demand from banks 46, 70,81,289 64,65,57,809 Unsecured

Loans repayable on demand from banks 20,00,00,000 10,00,00,000

Total 66,70,81,289 74,65,57,809

7.1 Security

(a) Rs. 164,498,892 (Previous Year Rs. 193,986,720) is secured by first pari passu charge on entire stock and Book

Debts and second pari passu charge on plant and machinery and immovable properties at Jodhpu r, Merta, Bikaner,

Sri Ganganagar, Kota, Ramganjmandi, Unjha, Deesa and Rajkot and is also personally guaranteed by Mr. Aditya

Bafna and Mr. Shubhendra Kumar Bafna. (b) Rs 200,000,000 ( Previous Year Rs.200,000,000) is secured by first pari passu charge on current assets of the

company and second charge on movable and immovable properties at Jodhpur, Merta, Bikaner, Sri Ganganagar,

Kota, Ramganjmandi, Unjha, Deesa and Rajkot.

(c) Rs. 94,225,509 (Previous Year Rs. 98,585,408) is secured by first pari passu charge on book debts and stock at

the company's premises or at such other places as may be notified to the ban k from time to t ime and second pari

passu charge on assets, including Land, Building and other assets situated at Chomu, Kota, Jalgaon, Latur, Nagpur,

ltarsi, Harda, Neemuch, Sagar, Ujjain, Vidisha and Dewas and is also personally guaranteed by Mr. Aditya Bafna and

Mr. Shubhendra Kumar Bafna.

(d) Rs. 8,356,888 ( Previous Year Rs. 6,063,407) is secured against Fixed deposit receipts held by the Company.

(e) Rs. Nil (Previous Year Rs. 28,026,600) is secured against pledge of Warehouse Receipt of Stock in trade and

second pari passu charge on assets, including land, building and other assets, situated at Chomu, Kota, Jalgaon,

Latur, Nagpur, !tarsi, Harda, Neemuch, Sagar, Ujjain, Vidisha and Dewas and is also personally guaranteed by Mr.

Aditya Bafna and Mr. Shubhendra Kumar Bafna.

(f) Rs. Nil (Previous Year Rs. 49,895,674) is secured by second pari passu charge on assets, including land, building

and other assets, situated at Chomu, Kota, Jalgaon, Latur, Nagpur, ltarsi, Harda, Neemuch, Sagar, Ujjain, Vidisha and

Dewas and is also personally guaranteed by Mr. Aditya Bafna and Mr. Shubhendra Kumar Bafna. (g) Rs. Nil ( Previous Year Rs. 70,000,000) is secured by second pari passu charge on assets, including land, building

and other assets, situated at Chomu, Kota, Jalgaon, Latur, Nagpur, ltarsi, Harda, Neemuch, Sagar, Ujjain, Vidisha and

Dewas and is also personally guaranteed by Mr. Aditya Bafna and Mr. Shubhendra Kumar Bafna. 7.2 Loans repayable on demand amounting to Rs. 358, 724,401(Previous Year Rs. 540,494,402) is guaranteed by Mr.

Aditya Bafna and Mr. Shubhendra Kumar Bafna.

-

~o~ ~~ I: ~ I ~ ti

iYs *·av -



NOTE: '8' TRADE PAYABLES As at 31st March, As at 31st March,

2016 2015 Rs. Rs.

Acceptances (Refer note 28) - 2,40,80,624

Others (Refer note 28) 21,09,62,431 24,84,59,537

Total 21,09,62,431 27,25,40,161

NOTE : '9' OTHER CURRENT LIAB ILITIES As at 31st March, As at 31st March,

2016 2015 Rs. Rs.

(a) Current maturities of Long Term debts (Refer Note 4) 56,49,32,841 55,96,05,317 (b) Interest accrued but not due on borrowings 3,12,75,917 3,79,33,751 (c) Other payables

Statutory remittances 1,65,42,564 1, 70,44,222 To Employees 3,72,879 -Advances from Customers 54,05,786 10,86,58,037

Advance received for assets held for sale 3,00,00,000 21,00,000 Payable for purchase of Fixed Assets 11,78,83,856 11,01,62, 187

Total 76,64,13,843 83,55,03,514

NOTE : '10' SHORT TERM PROVISIONS As at 31st March, As at 31st March,

2016 2015 Rs. Rs.

(a) Provision for Employee Benefits 10,36,009 7,19,603

(b) Other Provisions Provision for proposed preference dividend - 63,52,000 Provision for tax on proposed dividend - 12,94,258

Total 10,36,009 83,65,861

Shree Shubh1m Logistics Limited

Notes Forming Part or Financ::lal Shitements

Note '11' FIXED ASSETS

GROSS BLOC!<

P1nlculars As a t tst Aprfl 2015

Additions durin1 the I Redasslfled IS he1d year for sale

Deductions d urlnr IAdfustmtnts during tht l As at 31St Marci\, 2016 I As at 1st Aprn 2015 the ytar year (Refer Note 11.2)

(a) TANGIBLE ASSETS Leasehold land 3,73,42,952 2,09,25,412 1,64,17,540 (Previous Year) 3,73,42,9S2 3,73,42,952

Freehold Lind 86,94,56,004 S,21,69,282 81,72,86,722 (Previous Year) 87,05,08,261 10,52,2S7 86,94,56,004

Buildings I Note no 11.1) 2,83,29,02,996 46,72,08,989 69,13,376 3,29,31,98,609 12,06,41,243 (Previous Year) 1,73,79,50,481 1,10,46,01,490 28,98,975 67,50,000 2,83,29,02,996 8,39,86,909

Plant and Equipment 30,80,21,727 17,30,96,825 48,11,18,552 5,54,24,346 (Previous Year) 17,76,26,822 13,03,94,905 30,80,21,727 2,89,66,012

Office equipment 3,26,22,840 1,06,00,868 4,32,23,708 1,22,73,230

(Previous Year) 2,75,15,280 51,07,560 3,26,22,840 27,40,417

Furniture and Fixtures 12,00,32,255 44,81,332 12,45,13,587 l,3S,44,228

(Previous Year) 3,51,14,339 8,49,17,916 12,00,32,255 56,01,370

Vehicles 2,77,83,104 ' 7,00,893 40,85,457 2,43,98,540 79,62,133

(Previous Year) 2, 15,61,289 1,05,56,444 43,34,629 2, 77 ,83,104 64,08,979

Computer 2,22,66,672 14,48,419 2,37,15,091 1,55,61,504.65

(Previous Year) 1,86,85,010 38,71,662 2,90,000 2,22,66,672 82,34,237

Total (a) 4,25 04 28,550 65,75 37,326 8,00,08 070 40 85,457 4,82,38,72 349 22 54 06 685

Previous Ye;ar 2 92 63 04 434 133 94 49 977 39,Sl.232 46 24 629 67 50 000 4 25.04 28,S50 13 59 37 924

(b) INTANGIBLE ASSETS. Others

Computer Software 4,82,30,962 4,82,30,962 2,12,29,415

(Previous Vear) 4,77,62,155 4,68,807 4,82,30,962 1, 17,16,331

Copy right & Trade Mark 53,45,505 53,45,505 43,28,790

(Previous Year) 50,92,133 2,53,372 53,45,505 32,92.201

Total (bl 5 35 76 467 5 35 76 467 2,55,58 205

Previous Year 5 28 54 288 7 22 179 5 35 76 467 1 50 08,532

Total (a-+ b) 4,30,40,05,017 65,75,37,326 8,00,08,070 40,85,457 4,87, 74,48,816 2S,09,64,890

Previous Vear 2,97 91 58 722 1,34,01 72 156 46,24,629 67,50,000 4304005017 15 09 46 456

DEPRECATION & AMORTIZATION

For the year

4,77,72,658

3,70,39,630

4,47 ,93,220 2,64,10,932

78,83,452

89,98,257

1,27,14,818 79,42,858

27,06,461 28,18,150

34,39,256.84

47,64,377

11,93,09 866 8,79 74,204

95,04,352 95,13,084

4,77,942 10,36,589

99 82 294 l OS 49 673

12,92,92, 160 985 23877

Ellmlnatlon on

reclassification as held

for sale

10,27,870 3,85,296

10,27,870

3 85,296

10,27,870 3,85 296

Recouped

8,620

22,39,0S4 12.64,995

2,36,118

22,47,674 15,01,113

22,117,674 15,01,113

NET BtOCK

As at 31st March, 2016 I Asat 31st March, 7016

1 ,64 , 11. ~10

~. 73 .. \l_fl!ii

~l . 11.Bu,1/l

~i!;/l-1 <..1 .(1\.J

16,73,77,411 l.1} ';K 21, 1 <lS 12,06,41,2113 1,71.2.2 .t>l.l~:d

l0 ,02,17,566 38,09,00,0~fi

5,S4 24,346 Z5 .2S ,')73t'I

2,01,56,bSl 2.30.67 ,016

1,22.73,JlO 7,0l-1Q f.10

2,67.SCJ,04& "(82. ~.l ~.;.i

l, 3S,<1d. 228 lO _t>.J.8~ on

84 ,705 '1 1 l ,';Q.fiR ,Q'IC\

79 .6], tJ4 l <>:-< 2·:.:,9m

1,90,00. 161 _;1.lJ ]]O

1,55.61,50-; GJ,cc; 2n1

-34, 14,41,007 J.4~. 1'1.H . J-1.:

22,54,06,68(, J .OJ/,0.11 f'U,1

3,0/,33,766 l,l4 ,<i7 1%

2,12,79,4)f, 7,70.0t.r.11,

48,06,733 ~.38.17-;t

43,28,JC>O 10,16,71 ~

--3,55,40 499 1 .8 fU'i.':lt1t

2.S'>,58 20~ 7,80 1~ . l. 1 '~-

37,69,81,506 .: _ ~O.OJ .67 . llO

2S,09,fi4,801 ~ .OS,30, -1 '."',12~

DiDit;il Work In Pr02ress IRefer Note 29 l.1l591!:20 11.1 The amount of interest capitalized during the year is Rs, 27,567,602 (Previous Year Rs. 77,229,9$2). 11.2 ~pital Subsidy amounting to Rs 49,649,785 (Previous year Rs. 6,750,000) is received during the year under the scheme framed by MOFPI (Previous year Gramin Bhandaran Yojana) for construction of cold storage chain warehouse and t he same is adjusted aga inst the value of Cap1U1I Work In Progere'5'5

11.3 Effective from 1st April, 2014, the Company had charged depreciation based on the remaining useful life of the assets as per the requirements of Schedule II of the Compinles Act, 2013 ("the Act"). Consequent to this, depreciation charge for the Vear end ed on 31st Ma rch, 201S is h 1&h~1 by R"S. l l , 73~.38-1 •n Mrf'•ti;H'tCP v•1tl1 ti-->,.

transit!onal prov;sfon-.: provided in Note 7(b) of Schedule II of the Act, an amount of Rs. Nill (Previous Year Rs. 2,231.776) (net of deferred taic: of Rs. 1,149,191) was adjusted against the opl"'ning balance of retained ea rnings in respect of assets wherein the rem ::.uning usefu l life of the assets Is Nil

I __J

~ tr



NOTE: '12' NON CURRENT INVESTMENT As at 31st March, As at 31st March,

2016 2015 Rs. Rs.

Trade Investment (unquoted)· At cost

Investment in subsiciary Punarvasu Haloing & Trading Company Private limited

(9,45,200 (Previous year 556,000) Equity shares of Rs.100 each, fully paid up) 9,95,63,990 6,06,43,990

Total 9,95,63,990 6,06,43,990

NOTE: '13' LONG TERM LOANS AND ADVANCES As at 31st M arch, As at 31st March,

2016 2015

Rs. Rs.

Unsecured, considered good

Capital Advances 1,36,54,263 5,11,12,867 Advance Income Tax and TDS (net of provisions Rs. 91,666,920) 16,00,16,453 7,29,71,653

MAT Credit Entitlement 9,06, 76,410 12,32,03,095

Secu rity/Earnest Money Deposits 36,42,870 65,66,041 Total 26,79,89,996 25,38,53,656

NOTE : '14' OTHER NON-CURRENT ASSETS As at 31st March, As at 31st March,

2016 2015

Rs. Rs.

Subsidy Deposit 3,84,77,500 6,59, 77,500 Tota l 3,84,77,500 6,59,77,500

NOTE : '15' INVENTORIES As at 31st March, As at 31st March,

2016 2015 Rs. Rs.

(a) Stock in trade 13,37,46,860 53,40,58,000 (b) Packing Material and Consumables 13,13,462 2,47,38,658

Tot al 13,50,60,322 55,87,96,658

NOTE : '16'TRADE RECEIVABLES As at 31st March, As at 31st March,

2016 2015 Rs. Rs.


(a) Outstanding for a period exceeding six months from the date they were due for payment 20, 76,91,207 18,57,29,384

(b) Other 69,89,20,206 67,11,58,603 Total 90,66,11,413 85,68,87,987

NOTE : '17' CASH AND CASH EQUIVALENTS As at 31st M arch, As at 31st March,

2016 2015

Rs. Rs.

(a) Cash and Cash Equivalents

(i) Cash on hand 9,14,732 11,90,019 (i i )Ba lances wit h Ba nks in Current Accounts 3,77,55,441 3,52,17,455

(b) Other Bank Balances

(i) Deposits with original maturity more than 3 months but less than 12 months (Ref er Note 17 .1) 1,30,07,980 3,23,93, 183

(ii) Deposits with original maturity more tha n 12 mont hs (Refer Note 17 .. 1) 1,00,65,000 1,01,10,000

Tot al 6,17,43,153 7,89,10,657

17.1 Balances with ba nk held as margin money and secu rity against borrowings, guarantees and other commit ments.

Shree Shllbham Logistics Limited


NOTE : '18' SHORT-TERM LOANS AND ADVANCES As at 31st March, As at 31st March,

2016 2015 Rs. Rs.

Unsecured, considered good Loans and advances to employees - 11,86,053 Advances to Creditors 1,46,41,469 4,88,19,199 Ba lances with government authorities

Additional Custom Duty Refundable 32,13,279 81,S8,S81 VAT Credit receivable 70,13,320 1,43,11,464

Security/ Earnest Money Deposits 2,S8,84,2S4 2,SS,16,61S Prepaid Expenses 1, 71, 10,089 88,19,618

Total 6,78,62,411 10,68,11,530

NOTE : '19' OTHER CURRENT ASSETS As at 31st March, As at 31st March,

2016 2015 Rs. Rs.

Unbilled Revenue 7,18,89,82S 11,33, 71,097 Fixed Assets held for sa le 11,61,94,421 3S,6S,936 Subsidy Deposit 2,7S,OO,OOO -Export Incentive Receivable 1S,S2,943 81,23,721

Total 21, 71,37,189 12,50,60, 754

NOTE : '20' REVENUE FROM OPERATIONS For the year ended For the year ended 31st March, 2016 31st March, 2015

Rs. Rs. (A) Sale of Trading Products" (Refer note 36) 1,6S, 72,19,991 1,87,S7,43,382 (B) Sale of Services from

1) Procurement Income 2,02,36,S08 12,92,44,885 2) Warehousing Services

a) Storage Services 77,65,20,490 1,09,00,S2,660 b) Weighment Services 30,89,088 41,31,710

3) Collateral Management and Funding 1,59,15,270 1,14,79,777 4) Testing and Certification and Pest Management Services

Testing and Certification 1,22,38,433 1,84,68,510 (C) Other Operating Income

Export Benefits 16,07,S81 96,47,801 Sample Sale Income 19,49,718 11,11,430

Total 2,48,87,77,079 3,13,98,80,155 *Includes Primary Processed Product

NOTE : '21' OTHER INCOME For the year ended For the year ended 31st March, 2016 31st March, 2015

Rs. Rs. Interest Income 24,16,288 23,07,S73 Miscellaneous Income 38,78,866 -Profit on Sale of fixed assets 44,07,282 -

Total 1,07 ,02,436 23,07,573

NOTE: '22' CHANGES IN INVENTORY OF STOCK IN TRADE For the year ended For the year ended 31st March, 2016 31st March, 2015

Rs. Rs. Stock in trade at the beginning of the Year* S3,40,58,000 82, 18,48,556 Stock in trade at the end of the Year" 13,37,46,860 53,40,58,000

Total 40,03,11,140 28, 77 ,90,5S6 "Includes Primary Processed Product

NOTE : '23' EMPLOYEE BENEFITS EXPENSE For the year ended For the year ended 31st March, 2016 31st March, 2015

Rs. Rs. Salaries and Wages 19, 71,80,820 19,00,35,403 Contributions to Provident and Other Funds S8,52,69S 73,63,233 Staff Welfare Expenses 9,38,332 26,01,863

Total 20,39, 71,847 20,00,00,499

a ~ ~ I ~ ~ I ~ [)

;ys * ·()V -


Notes Forming Part of Financia l Statements

NOTE : '24' FINANCE COSTS

Interest Expense on

Borrowings

Others Total

NOTE: '2S' DEPRECIATION AND AMORTISATION EXPENSE

Depreciation on Tangible Assets

Amortization on Intangible Assets

NOTE : '26' OTHER EXPENSES

Advertisement expenses

Bank Commission & Charges

Charity & Donation

Computer expenses

Conveyance expenses

Director Sitting Fees

Electricity expenses Freight and Forwarding expenses

Fumigat ion expenses Godown Rent

Insurance Charges

ISO Charges Legal and Professional expenses

Loss on sa le of assets

Net Loss on Exchange Rate variation

Postage & Courier expenses Rent

Repairs and Maintenance

Total

Stationery, Printing and Drawing Expenses

Stores, Spa res and consumables

Taxes and Duties

Telecommunicatio n Expenses

Testing Expenses

Travelling Expenses

Vehicle Expenses Water Charges

Payment to Auditors Audit Fees Other Services & Reports

Share of RSWC*

Miscellaneous expenses * The company has entered into a MOU with Rajasthan State Warehousing

Corporation (RSWC), a Government of Rajasthan Undertaking for storage of

Agriculture/Non-Agriculture commodity on the basis of sharing of revenue for own

and RSWC warehouses. The share of RSWC for the revenue billed by company is

shown as operating expenses in the Statement of Profit and Loss .

Total

For the year ended For the year ended

31st March, 2016 31st M arch, 2015

Rs. Rs.

45,21,99,760 34,01,65,140

91,93,151 21,06,657 46,13,92,911 34,22,71,797


31st March, 2016 31st March, 2015

Rs. Rs. 11,93,09,866 8,79,74,204

99,82,294 1,05,49,673

12,92,92,160 9,85,23,877



Rs. Rs.

13,48,800 15,46,164

9,24,556 43,01,031

5,69,011 11,24,893 19,62,337 14,76,428

48,26,818 55,17,526

9,13,375 2,52,810

2,56,22,453 1,75,61,886 2,88,38,419 2,56,08,568

3,32,53,926 3,59,69,156

23,07,89,081 21,07,06,821 3,76,97,125 4,31,66,751

3,57,539 2,32,082

2,90,24,032 2,28,99,841

- 5,13,455

7,70,569 22,67,378

15,69,026 25,38,509

2,55,37,965 1,96,88,089 1,04,82,138 1,31,25,990

28,91,279 38,61,157

4,90,08,851 2,57,30, 733

26,99,274 18,76,382

77,25,670 58,66,186

91,295 7,65,615

1,28, 70,549 1,23,82,146

49,16,580 55,56,888

14,95,386 15,93,671

17,17,500 16,85,400 34,200 73,034

1,40,25,271 1,40,69,167

4,76,90,815 5,30,75,114

57,96,53,840 53,50,32,871


Notes Fo rming Part of Financial Statements

NOTE : 27 Contingent liability in respect of

Particulars

a) Bank Gaurantees Given

b) Claims against the company not acknowledged as debt

c) Income tax disputes under appeal

d) Preference Share Dividend payable on 4% Redeemable Preference

Shares for FY 2015-16

31st M arch, 2016 Rs.

37,01,40,047

13,93,32,003

63,52,000

31st March, 2015 Rs.

55,32,30,047

1,00,87, 118

42,15,359

e) The company had received a letter from its term lender for projects in Rajasthan and Gujarat stating that the subsidy applied

under Scheme of Development /Strengthening of Agriculture Marketing Infrastructure, Grading and Standardization (AMIGS) for its

Agri Logistics Parks has not been approved on technical grounds as stated in the Joint Monitoring Committee report and has

recalled the advance subsidy of Rs. 22,500,000. The said advance capital subsidy received by the Company is credited to the

relevant fixed assets of the Company in the year of receipt. The Company has represented the matter to National Bank for

Agricu lture and Rural Development (NABARD) and Directorate of Marketing & Inspection (DMI), Delhi. DMI has initiated the

process for reviewing the same in the light of submissions made by the Company. The Company believes that the projects are we ll

qualified under the said subsidy scheme and the same would be approved by the relevant sanctioning authorities.

f) The company has filed a writ petition dated May 6, 2009 before the Rajasthan High Court, Jaipur against the Board of Revenue,

Revenue Appellate Authority, the Sub-Divisional Officer, Ramgarh, and others, challenging their orders dated April 1, 2009, August

20, 2008 and February 5, 2008, respectively, pursuant to which the revenue authorities had invalidated the transfer of land

measuring 1.895 hectares situated at Ramgarh district Alwar, to the Company, alleging contravention of the Rajasthan Land

Revenue (Conversion of Agricultural land for Non- Agricultural Purposes in Rural Areas) Act, 1992. The Company has prayed inter

alia, for an order quashing the orders dated April 1, 2009, August 20, 2008, and February 5, 2008, and declaring the entire

proceedings initiated by the Sub-Divisional Officer as illegal, arbitrary and unconstitutional, or in the alternative, remanding the

case to the Sub-Divisional Officer, on the grounds that the order was passed without providing an opportunity to be heard. The

High Court through its interim order dated May 11, 2009 granted an interim stay against the operation of the challenged orders.

The value of the land and building involved in the matter, at book value is Rs. 83,175,559. The matter is currently pending and the

Company does not expect any liability on account of the same.

NOTE 28 Based on the information available with the Company, there are no enterprises covered under the definition of Micro and

Small Enterprises under the Micro, Small and Medium Enterprises Development Act , 2006 (the Act). This has been relied upon by

the Auditors.

NOTE 29 Two installments of capital subsidy received under the scheme framed by the Ministry of Food Processing Industries

(MOFPI ) have been credited to the value of capital work in progress.

NOTE 30 The estimated amount of contracts remaining to be executed on capital account, for tangible assets, not provided for (Net

of Advance) is Rs.135,398,916 (Previous year Rs. 210,728,536).

NOTE 31 Net payable Foreign Currency Exposure that is not hedged by derivative instruments as at 31st March,2016 is amounting

to Rs. 12,031,423 (Previous Year Rs. 40,284,094).

NOTE 32 The Company is engaged in the activity of providing integrated post-harvest management solutions including

warehousing, procurement, testing and certification, collateral management and supply chain management of agro-commodities.

The Company has only one reportable segment which is, integrated post-harvest management solutions. Hence, the financial

statements are reflective of the information required by Accounting Standard 17 specified under Section 133 of the Companies

Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 and the relevant provisions of the Companies Act, 2013.

Shree Shubham l ogist ics limited Notes forming part of Financial Statements

NOTE 33 Employee Stock option Scheme 2014 {"ESOS 2014")

The Company has introduced ESOS 2014 through the resolution passed by the Board of Directors on 1st October, 2014 in pursuance of the powers given by

the Shareholders at the Extraordinary General Meetmg held on 25th August, 2014. Under t~e scheme, opt1oos for 545,590 (Five lakhs Forty Five Thousand Five Hundred and Ninety) equity shares have been graoted to eligible employees of the Company and each option (after 1t is vested) is exercisable for one

equity share haviog face value of Rs.IO each for an exercise pnce of Rs.150. Vesting of the options shall take place over a maximum period of 5 years with a

minimum vesting period of 1 year from the date of grant 1.e. lst October, 2014. The Board of Directors have formed Compensation Committee through

resolution passed on 7th January, 2015 to administer the scheme

a) During the year ended 31" March 2016, the Company had Share-based payment arrangements, as described below:

Type of Arrangement General Employee stock option plan

Date of Grant l st October, 2014

Number Granted 5,45,590

The options would not vest earl ier than 1 year and not later than 6 years from the grant date. The schedule of vesting is as under:

Vesting Date Vesting Percentage

Vesting period 1st October, 2015 15% 1st October, 2016 15% 1st October, 2017 20%

1st October, 2018 20%

1st October, 2019 30% The options granted shall be capable of being exercised within a period being not more than two years

Exercise Period from the date of Vesting of the respective Employee Stock Options.

b) Movement of the stock options is as follows:

Type of Arrangement 31" March 2016 31" March 2015

Outstanding at the begening of the vear 5.45,590

Granted 5.45,590

Forfeited -Exercised -Outstanding at the end of the vear 5.45.590 5.45,590

Exercisable at the end of the vear 81,839 -

The estimated intrinsic value of each stock option granted in the employee stock option plan is Rs. 127.24. This was calculated by an i ndependent valuer as

per Discounted Cash Flow Method.

c) Fair Value

The fair value of options used to compute proforma net income and earnings per equity share have been done by an independent firm of Chartered

Accountants on the date of grant using the Black-Scholes Model.

The Kev assumptions in the Black-Scholes model for calculating fair value as on the date of orant are; Assumtion

Weighted average Risk Free Rate 8.65% Weighted average expected life (years) 4.35 Expected Volatility 0.00001% Expected Dividend Yield 0%

Had the compensation cost for the stock options granted under ESOS 2014 been determined, based on fair-value approach, the Company's net profit and

earnings per share would have been as per the proforma amounts indicated below:

Particulars For the year ended 31" For the year ended 31"

March, 2016 March, 2015

Net Profit {39,36,59,647) 11,81,50,348 Add: Compensation Expenses under ESOS included in

the Net Profit Less: Compensation Expenses under ESOS as per Fair

50,04,240 25,50,533.27 Value Net Profit (Fair value basis) {39,86,63,887) 11,55,99,815

Basic Earnings Per Share (Reported) Rs. per share (8.17) . 2.34

Basic Earnings Per Share (Fair value basis) Rs. per {8.27)

share 2.29

Diluted Earnings Per Share (Reported) Rs. per share {8.17) 2.19

Diluted Earnings Per Share {Fair value basis) Rs. per {8.27) -

share 2.14 -- ' ~

~o~ ~ .:§> ~

~~ ~) u.I V)

~ " <Y..ys * . 0. 'y

-

5 .. ·e• 5 .... :io~ .. ~ _0111 c.i L.., •ea

,._01es lo·-·"'t 01•1 o' r·,.•"it • 5t•t•-e"u

r

l' Re 1:ea ?1·1va u oi1.<•e for l ~e '(•• ' e'1dt>o llu IV1 r1t., 20 : 6

Re 11eo "'•n'(C's< osu1es IJ roq1.meo bv Accou•Ulnc St•no•rd :s ' '" c 11en b•low

Ulit of Re ;at~o P.rt1u Ae atlonlihip

1(1 lpouru Po··'""' lr1ri~m1si1or. L•m1° ed liold 'lf: (t1l'lp~nr

~u,...·~.s ... Held·"( & Tr,d·fl&CCl'l"~n) Pr1vllf'h"' 1 .. d I...,"'' 'l 1: :01.:) Sut;s•di ••v

Arv 'ld 5'i~l V" s Pr1vtt• l•'f',ltcl0 (nl !ll"S mwh·c~ A:Xl•I cr.11 Non £~•·.ut1 11• 0.rt<"tor t•rrcr~<;; s11n t ctnt tnl ... rntot

I r.:.-.crth M1rlet•"1 Pnv,tf' ~1M1t~· [nl ties 1nwl-4'Ct- .0..dcM•Ol'W' N;;"" (•t<u: ~• Out"ctor • •~C•H"S f.if:O ' 'c'nt m•iueni:e

JMC ~•o;ecu l•t1d·•) ll,...t~ F.- O-" Subsdolfl'

[roe1&ylirl• l1<·d~)LM1t.-d feolo·•Sutn.~11ry

Amt~ RH1 ht1t.- Lm•lad r ell ow 5utx.d•lfY

K1lp1ur1.1 Powtt i11n~1U•Ofl (M41.1r•tvil l•'f'•led fellow Subsid1lfy

K11p.1uru S.outh A hot• (Ply) l!m•!.-d FelloN Svbs•doMy

K1lp1uru Powe1 Transm•u.011 N•i:er1• L1m.1ed f el ~ow Subsidi.ry

Ka lp1taru Power Tu nsl'l'l1nt011 USA !nc fellow S1Jbs1diary

Ade shwar lnfr1b\11\d l1m1tt:d fellow SubSldiary

K1lp111ru S1tpvr1 Tr1nKO Pvt ltd Fellow Subs1d11ry

LLC K•lpalaru P<lwer Tr1nsm1sslo11 Ulr11n• Fellow Subs1d1;111y Kf,lpitifu Metleb Pvt Lfrn1t•d I Form•1y Known u GH!amp K1rp't"'u Sollf Steel Structure

Priv•t• Umrted) f ellow Sul»Klr1ry

JMC M·nuie ind QuitriH Ul'n[tffl Fellow Substdttry

Saictwor1n Propert1e:sli(l'l1te:d fellow Subsid,,.ry

8lif Bhoomi Uprenv.1y Pflvlt• li""led fellow Subsodi.Jry

W•WIJ•nc• hpt"essw1y Pnv•t• limot.-d felow Subsidiary

VindhyKhll hpte:ssw1y PrN•l• l•m•le:d feftow Substd"iify

PUNrvuu Holdlng & Tudmg Co. Priv•te l.tm1ted fettow Subsidi1ry

Kalpataru Powe:r OMCC (Formerly Kalpataru Power JlTJ hllow Subsidia ry

Ahpurd1r Tr111sm1ssion L1m1ted r ellow Subsidiary

Ad•tya Blfo1 HUF (upto 23,1 1.2015) Entities in w hich KMP e~ercues S•&niflcant fnl lve:11c•

Gy111endr1 B1fn1 HUF (Yplo 23.11.2015) En1i1ies in which KMPue rdses si111il1c1nt inlhJenc.-

Shubhendr• Kum1r B1fn1 HUF (upto 23.11.2015) En1i1ies i11 whith KMP e~erdns st1nlf1c1nt lnllu.11c•

Shubh•m Fisc.11 Services Pvt. Ltd. jupto23.1 l 2015) £11!ities in which KMP eJCe rdses si&nif•Clnl inlluer.c•

Or Pr•klsh B•hhi (w.d 01.10 2014) hy M1Ngeri1I P•rsonnel • M1n111nc Director

Mr Adiry1 Gy1nendf1 81ln1 (upto 04.08.2015) Key Minageri•I Persont1~ • hecutive Olre:ctor

Mr Shubhendrl Kum1t 8•fnl (upto 23.11.2015) Key M•N1eri1I Personnel· httuti'v• Olre:ctor Ms ~mt1 lbfn• (upto 23.11 201 S) Rel•ti11e of hecvt1ve Director

Ms Ridhi 81f"' (upto 23 11 201S) Rel1ti'tt• cf hecutive 011ect0t

·~of the Addition.I Non Eucuttve Director appoi11ted with effttt ff om 11th April 201 & hn s1gnifiQnt influence In thHe: •ntit1H.

Tr•ns~IOn$ with Rel•t• d P1rtl.-t. In o rd ln...v courH of b usln.ss •re

Sr No.

l lntere~t Expe nse

Ka lp.ata ru Powe r TF1mmiulo11 Limited Amber Rut rune Limit .-d

2 Re nt ExpenH K1lp.ataru Power Truumis.$h)n Umoted

3 ~•rv & CommiHion

Adity1 Gyan.-nch hft1t

Shubhtf1cka Kumu S1fn• Or Pr1l:nh 6'hhi

4 lD•nsTaken Amber RHI Esta te Limited

S Rep•yment of loan K1tP1t1ru Po wer TF1nsmlulon Umited

Amber RHI Esute Umited

6 AdV11nca reite:lwd for us.ts h•ld for .. i.s Kalp.at1ru Metfeb Pvt Umftt'd ( Form1ly l(nownasGMUmp Kalpat•ru Soltr Steel SUvctUte

PrWateUmhed)

7 Dividend Paid Mr Adityll Gv• nendr• aafn11

Mr Shubhe:iidfa ICum•r tafna

Kllp.at1ru Power f,.nuniuion Lirnlled

Shubham Fise1I SffVi<tt Ptlvate Umlted

8 Re11t receiwd Punarvasu Holding & T11dlnt: Compa ny Priv1te Umfted

9 Equity contribution In Sub1ldlerie1

P\ll'lllrvHu Holding & Tra6ng(ompany Prlv1te Umitf'd

10 Colletnil M.n•&•ment S.Mc•s &Mom. Punarvuu Holdin« & T11din• Com---· Private Limited

S.l•ncas With Ral•ted parl~• •• •l lbt March 2016

Sr No.

1 lo•n1 T•k•n K1lpai.ru Power Tr1n.smlssion Uml!ffl

Amber Real £stateUmii.d

2 5-indry O.bton Punarv.su Holdirc & Tr1diJIC Comp.any Priv11e Umitotd

3 Trade & Other Prpblu Mr Adity1 Gy1nendr1 81fn1

Mr Shubhenc:h 1Cum1t hfM Dr.PrakashBabhi

4 Other Current tlabH/ty

Holdi11g Comp1ny

FellowSubsidi1ry

Key MINCHioll P•rscnnel

Key M•rw1eri11 Personnel Key t.4•Ngttial Personnel

Felk)wSubsidiary

Holdin& ComP1nv Fellow Subsidiary

felow Subsidiary

Key Manageri•I Pttso~

Key M"''Cefil1 Pen~I Rdllive of Uecvtivt Dir.ctor Holding ComJ)"ny

Er.titi•s In which KMP t )(trcises signltl~nt lnfh.1tnce

SUbsidi1ry

Subsidi1rv

Holding Comp.any

f ellowSubsidi1ry

Subsidiary

by M1Ng~i•I Personnel

ICey M1nageda1 P•rsonntl

Key M1nageri1I Per'°nMI

K1lpatuu Metfeb Pvt Umltad{ fotm1ty IC!'IOwn H Gest•mp K1 lpatifu Solar St .. ! S1ructur.- Fellow Subsidiary P1 iv11tUmited)

Arvind Silk. Mills Ptiv•te Umlte:d

lllincworth Muketirc Priv•t• Umite:d

Entities in which Addition1I Nol\ E.icecut/ve Oirtttor eurci'es

sltnifoc:ant Influence

E11tities in which Addition1I Non beartNe Director uerciws

slf"'lficar.t influe:nc.-

3ht M•rrll, 2016 Jht Muth, 2015

... 7.44,65,187

93,0S,123

2,31.0S

27.67.690 35,23,100

l.OS.39.600

70,00,00,000

fi.S0,00,000

66.S0,00.000

3,00.00.000

3,80,'00

4,48,800 70.400

54,00,000 52,400

35,34,9 86

2.15,4 20

. .. 7,00,07,9!8

1.88.600

80.43.600

60.39.600 52.69,800

3,80,400 4,48,800

70.400 54.00.00)

52.400

4.54.53.000

... Jlst t.Wdl, 2016 Jlll M.lrch, 2015

•.. 63,0S,62,485

4,33,74.611

4,49.729

22,50,000

3.00,00,00)

. .. 62.85,43 ,817

7,50,000

ShtCC Shuoham Log+SllCS L1,,...11ed

fl.O'"' E ·35• Ret'reme nt Benefit plans

a) Def ined co.,t ribution Plans

... rt' Comoany ""aoe CO!"lt' 1but1ons towarc<S p·ov1de ... t f\lnC ace' ned contr.but tOl'l ret1re~ent benef.: p:a., for cua1 fv•rog erl"'p:oyees The prov•cent f..,nc is ooe~a'. eO by t"e Reg1ona· Provident Fund

Com.,,•ss10lle'

The Co"'lpary recoen•zed Rs. 5,035,311 (P·ev1ous Ye~r Rs 5,397,971 ) 'or provident funo contr.outions 1n tne Statement of Prof.t & loss

Tt-e contrrbut-ons payable to these plans by the company are at ra tes specif.ed in the ru 1e s of the scheme.

b) Defined Benefit plans

The company made annual contributions to the Employee's Group Gratuity cash accumulation scheme of the S81 l1fe, a funded def med benefit plan for quahfying employees The Scheme provided for payment to vested employees at retirement/death while m employment or on termination of employment as per the provisions of the Gratuity Act, 1972

The present value of the defined benefit obligation and the related current service cost were measured using the Projected Unit Credit Method as per actuarial valuation carried out at the balance

sheet date.

The following table sets out the status of the gratuity plan as required under AS-15 and the amounts recognized in the Company's financial statements as at 31st March,2016

Particulars 31st March, 2016 31st March, 2015

Rs. Rs . Change in present valu e of ob ligations : Obligations at beginning of the year 52,87,883 25,89,501 Service Cost 10,93,203 17,42,554 Interest Cost 3,77,066 2,32,842 Actuarial (gain)/Joss (11,95,150) 7,34,928 Benefits paid (3,46,902) (11,942) Obligations at the end of the year 52,16,100 52,87,883 Change in plan assets: Fair value of plan assets at the beginning of the yea r 46,97,031 32,03,242 Expected returns on plan assets 4,20,606 2,91,135 Employer Contribut ions 12,17,801 Actuarial (loss)/galn (50,509) (3,205) Benefits paid (3,46,902) (11,942) Fair Value of plan assets at the end of the year 47,20,226 46,97,031

R~cQnclliatlon of Present Va lue of Obligat io n and t he fair va lue of ~Ian assets: Present value of the defi ned bene fit obliga tion at the e nd of the year 52,16,100 52,87,883 less: Fa ir value of plan assets 47,20,226 46,97,031 Funded status [Surplus/{deficit)] (4,95,874) (S,90,852) Gratu ity Cost for the yea r

Service Cost 10,93,203 17,42,554 Interest Cost 3,77,066 2,32,84 2 Expected returns on plan asset s (4,20,606) (2,91,135) Actuarial {a:ain}/loss {11,44,641) 7,38,133 Net Gratuity cost chuced to Statement of Profit and Loss (94,978) 24,22,394 Ass1.1mptions :

Discount rate 7.80% 7.70% Estimated rt1te of return on plan assets 7.80% 8.00% Annual increase In salary costs 7.00% 7.00%

Partlculos M arch 31 2016 Ma rch 31, 2015 Morch 31 2014 31st March, 2013 Rs. Rs. Rs. Rs.

Exnerlence Adlustment Defined benefit obligat ion 52 16 100 52 87 883 25 89,501 17,37,910

Plan asse ts 47 20 226 46 97 031 32,03,242 16,88,475 Suralus/(deficit) 14 95 874 (5 90,85 21 {6,13,741) (49,435) Experie nce adjustments on plan liabilit ies r (Gains)/ losses 1 110,90,198 174 056 2,68,667 (1,23, 299)

Experience adiustme nts on plan assets r Gains I (l osses)l ISO 509 13 205 (21,322) (9,861)

NOTE : 36 Sales and purchase of product comprise: Purchase


Rs. Rs.

Jeer a 12,43,36,816 85,89,21,764 Groundnut/Seed 42,19,948 1,16,37,500 Almond 75, 79,84,662 30,04,25,241 Other 38,90,86,380 31,82,98,438

Total 1,27,56,27,806 1,48,92,82,943

Sa les


Rs. Rs. Jeer a 89,38,80,430 1,14,38,87,667 Groundnut/Seed 3,88, 74,952 15,82,14,788 Almond 13,31,11,425 29,36,29,162 Other 59,13,53,184 28,00,11,765

Tota l 1,65,72,19,991 1,87 ,5 7,43,382

NOTE : 37 CIF Va lue of Imports


Rs. Rs. Raw Mat erial and Components 3,74,87,061 14,99,80,304

Capital Goods 1,20,87,000 38,87,295 Total 4,95,74,061 15,38,67,599

NOTE : 38 Expenditure in foreign currency on account of:


Rs. Rs. Travelling Expenses 6,35,689 7,81,932 Bank Charges 93,270 35,423 Interest on compulsorily convert ible debent ures 1,26,00,287 1, 72,01,488 Share issue expenses - 48,67,000 Membership and Seminar Expense - 5,25,755 Sa les Promotion Expenses 14,53,273 -Rent Expenses 4,05,517 -

Total 1,51,88,036 2,34,11,598

NOTE : 39 Earnings in Foreign Exchange:


Rs. Rs. FOB value of exports 5,24,67,034 16, 19,99,772

NOTE 40 The Company's significant leasing/ licensing arrangements/ (leasing arrangements) as lessee are mainly in respect of

Warehouses/ Godowns/Office. The aggregate lease rental paid/payables on t hese leasing arrangements are charged as Godown rent/office rent amount ing to Rs. 256,327,046 ( Previous year Rs. 230,394,910)

The Company has entered into operating lease arrangements for certain facilit ies and office premises. The leases are non-

cancellable and are for a per iod begining from 18th Nov 2013 to 17th Nov 2022. The lease agreements provide for an increase in

t he lease payments by 15% in every t hree years.

Future m inimum lease payments Not lat er t han one year Rs 3,658, 741 {Previous year Rs.3,466,632 )

Later t han one year and not later t han f ive years Rs 16,765,426 (Previous year Rs.15,839,547)

Later than five years Rs . 7,475,479 {Previous year Rs .12,060,100)

Note : 41 CSR Expenditure


Rs. Rs. (a) Gross amount required to be spent by the company during t he

year 37,99,789 28,54,854

(b) Gross amount spent by the company during t he year - -

S h ree Shubham Logist ics L imited

Notes Forming Part of Financ ial Statements

NOTE '42'

EARNINGS PER SHARE

Basic

Weighted average no. of equity shares

Net profit/(loss) for the Year Preference dividend including tax thereon Profit after tax attributable to the Equity Share holders Basic Earnings per share

Nominal va lue of equity share

Diluted

Weighted average no. of equity shares Add : Weighted average number of potential equity shares on account of

Compulsory Convertible Debenture Weighted average no. of equity shares for diluted EPS Profit after tax attribut able to the Equity Share holders

Di luted Earnings per share

Nos. Rs. Rs .

Rs.

Rs. Rs.

Nos.

Nos.

Nos.

Rs . Rs .

No. of shares as at No. of shares as at


4,91,27,876 4,71,44,398

(39,36,59,647) 11,81,50,348 76,45,115 76,45,115

(40, 13,04,762) 11,05,05,233

(8.17) 2.34

10 10

4,91,27,876 4,71,44,398

76,37,623 84,96,289

5,67,65,499 5,56,40,687

(39,30,65,434) 12,18,59,935

(8.17) 2.19

42.1 The weighted average number of pot ential equity shares for the year ended 31st March, 2016 has been derived considering t he

applicable conversion ratio of compulsorily convertible debentures (CCD) into t he equity shares as at 31st March, 2016.

42.2 Since t he convertible debentures issued are anti dilutive, hence diluted EPS is the same as Basic EPS.

NOTE '43' Previous year's figures have been regrouped /reclassified wherever necessary to correspond with the current year 's

classification I disclosure.

In terms of our report attached

For Deloitte Haskins & Sells

Chartered Accountants

Su nil S. Kothari

Partner Mumbai : May 27,2016

(Dr. Prakash Bakshi) Managing Director

DIN:- 02628945

, I

V'~~~ -{Vishesh Singhvi)

Chief Financia l Officer

MUMBAI : May 27, 2016

(Kamal Jain) Director

DIN:- 00269810

~-0-~4-{Puneet Bhandari)

Company Secretary

Deloitte Haskins 8r Sells

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF SHREE SHUBHAM LOGISTICS LIMITED

Report on the Consolidated Financial Statements

Chartered Accountants 19th Floor, Shapath-V S. G. Highw ay Ahmedabad - 380 015 Gujarat, India

Tel.: +91 (079) 6682 7300 Fax: +91 (079) 6682 7400

We have audited the accompanying consolidated financial statements of Shree Shubham Logistics Limited (hereinafter referred to as "the Holding Company") and its subsidiary (the Holding Company and its subsidiary together referred to as "the Group") comprising of the Consolidated Balance Sheet as at 31st March, 2016, the Consolidated Statement of Profit and Loss, the Consolidated Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information (hereinafter referred to as "the consolidated financial statements").

Management's Responsibility for the Consolidated Financial Statements

The Holding Company's Board of Directors is responsible for the preparation of these consolidated financial statements in terms of the requirements of the Companies Act, 2013 (hereinafter referred to as "the Act") that give a true and fair view of the consolidated financial position, consolidated financial performance and consolidated cash flows of the Group in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, as applicable. The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group and for preventing and detecting frauds and other irregularities; the selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a t rue and fai r view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial statements by t he Directo rs of the Holding Company, as aforesaid.

Auditor's Responsibility

Our responsibility is to express an opinion on these consolidated financial statements based on our audit. While conducting the audit, we have taken into account the provisions of the Act , the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made thereunder.

We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the

~ audit to obtain reasonable assurance about whether the consolidated financial statements are free from

\ c •terial misstatement.



Tel.: +91 (079) 6682 7300 Fax: +91 (079) 6682 7 400

An audit involves performing procedures to obta in audit evidence about the amounts and the disclosures in the consolidated financial statements. The procedures selected depend on the aud itor's judgment, including the assessment of the risks of material misstatement of the consolidated financia l statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Holding Company's preparation of the consolidated financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on whether the Holding Company has an adequate internal financial controls system over financial reporting in place and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Holding Company's Board of Directors, as well as evaluating the overall presentation of the consolidated financia l statements.

We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion on the consolidated financial statements.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid consolidated financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Group as at 3151 March, 2016, and consolidated loss and consolidated cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by Section 143 (3) of the Act, we report that:

(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our aud it of the aforesaid consolidated financial statements.

(b) In our opinion, proper books of account as required by law relat ing to preparation of the aforesaid consolidated financial statements have been kept so far as it appears from our examination of those books and the reports of the other auditor.

(c) The Consolidated Balance Sheet, the Consolidated Statement of Profit and Loss and the Consolidated Cash Flow Statement dea lt with by this Report are in agreement with the relevant books of account maintained for the purpose of preparation of the consolidated financial statements.

(d)

'~ J

In our opinion, the aforesaid consolidated financial statements comply with the Accounting Standards specified under Section 133 of the Act, as applicable .



Tel.: +91 (079) 6682 7300 Fax: +91 (079) 6682 7400

(e) On the basis of the written representations received from the directors as on 31st March, 2016 taken on record by the Board of Directors of the Holding Company and the report of the statutory auditors of its subsidiary company incorporate in India, none of the directors is disqualified as on 31st March, 2016 from being appointed as a director in terms of Section 164 (2) of the Act.

(f) With respect to the adequacy of the internal finan cial controls over financial reporting and

the operating effectiveness of such controls, refer to our Report in "Annexure A", which is

based on the auditors' reports of the Holding company and subsid iary company incorporated

in India. Our report expresses an unmodified opinion on the adequacy and operating

effectiveness of the Holding company's and subsidiary company's incorporated in India

interna l financial controls over financial reporting.

(g) With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

i. The consolidated financial statements disclose the impact of pending litigations on consolidated financia l position of the group.

ii. The Group did not have any long-term contract including derivative contracts for which there were any material foreseeable losses.

iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Holding Company and its Subsid iary Company incorporated in India.

Place: Mumbai Date: May.2!f, 2016

For Deloitte Haskins & Se lls Cha .ered Accountants (Fir Registration No 11736SW)

Sunil S. Kothari Partner (Membership No. 208238)


ANNEXURE "A" TO THE INDEPENDENT AUDITOR'S REPORT

Chartered Accountanh 19th Floor, Shapath-V S. G. Highway Ahmedabad - 380 015 Gujarat, India

Tel.: +91 (079) 6682 7300 Fax· +91 (079) 6682 7400

(Referred to in paragraph 1 (f) under 'Report on Other Legal and Regulatory Requirements' of our report of even date)

Report on the Internal Financial Controls Over Financial Reporting under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 ("the Act")

In conjunction with our audit of the consolidated financial statements of the Company as of and for the year ended March 31, 2016, we have audited the internal financial controls over financial reporting of Shree Shubham Logistics Limited (hereinafter referred to as "the Holding Company") and its subsidiary company, which is company incorporated in India, as of that date.

Management's Responsibility for Internal Financial Controls The respective Board of Directors of the Holding company and its subsidiary company, which is company incorporated in India, are responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essentia l components of internal control stated in the Guidance Note on Audit of Interna l Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to the respective company's policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.

Auditor's Responsibility Our responsibility is to express an opinion on the Company's internal fin ancial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the "Guidance Note") issued by the Institute of Chartered Accountants of India and the Standards on Auditing, prescribed under Section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financia l controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and eva luating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the audit or's judgement, includ ing the assessment of the risks of material misstatement of the financia I statements, whether due to fraud or error.

~ We believe that the audit evidence we have obta ined is sufficient and appropriate to provide a basis ~for our audit op inion on the Company's internal financial controls system ove r financial reporting.

~


Meaning of Internal Financial Controls over Financial Reporting

Chartered Accountants 19t h Floor. Shapath-V S. G. Highway Ahmedabad · 380 01 ~ Gujarat , Ind ia

Tel .: +91 (079) 6682 7300 Fax· +91 (079) 6682 7400

A company's interna l financial control over financial report ing is a process designed to provide reasonable assurance regarding the reliability of financia l reporting and the preparation of financial statements for external purposes in accordance with genera lly accepted accounting principles. A company's internal financial control over financial reporting includes those policies and procedures that (1) perta in to the maintenance of records that, in reasonable detail, accurate ly and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorisations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting Because of the inherent limitations of interna l financial controls over financial reporting, including the possibility of collusion or improper management override of contro ls, materia l misstatements due to error or fraud may occur and not be detected. Also, projections of any eva luation of the internal financial controls over financia l reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion to the best of our information and accord ing to the explanations given to us, the Holding Company and its subsidiary company, which is company incorporated in India, have, in all material respects, an adequate interna l financial controls system over financial reporting and such internal financial controls over financial reporting were operating effective ly as at March 31, 2016, based on the internal control over financial reporting criteria estab lished by the Company considering the essential components of interna l control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

Place: Mumbai Date: May'l.:f; 2016

For Deloitte Haskins & Se lls Cha ered Accountants (Fir Registration No 117365W)

Sunil S. Kothari Partner (Membership No. 208238}


SHREE SHUBHAM LOGISTICS LIMITED Consolidated Balance Sheet as a t 31st March 2016

Particulars Note No. As at 31st March 2016 As at 31st March 2015

Rs. Rs. I. EQU ITY AND LIABILITIES

Shareholders' Funds (a) Share Capital '2' 6S,00, 78, 760 65,00, 78, 760 (b) Reserves and Surplus '3' 41,45,80,515 81,48,63,939

1,06,46,59,275 1,46,49,42,699 Non-Current Liabilities (a) Long Term Borrowings '4' 3,59,57,43,066 3,03,39,09,940 (b) Deferred Tax Liabi lities (Net) '5' 87,06,314 19,93,36,085 (c) Long Term Provisions '6' 24,54,422 21,75,760

3,60,69,03,802 3,23,54,21, 785 Current Liabilities (a) Short Term Borrowings '7' 66, 70,81,289 74,65,57,809 {b) Trade Payables

(i) Micro and small enterprises - -(ii) Others '8' 21,22,24,533 27,28,66,572

(c) Other Cu rrent Liabilities '9' 76,66, 76,366 83,55,94,479 {d) Short Term Provisions '10' 11,92,644 83,96,624

1,64, 71, 74,832 1,86,34,15,484 Total 6,31,87,37,909 6,56,37,79,968

II.Assets

Non-current assets (a) Fixed assets

(i) Tangible assets '11' 4,48,25,69,483 4,02,50,21,864 (ii) Intangible assets '11' 1,80,35,968 2,80, 18,262 (iii) Capital work-in-progress '11' 3,43,59,095 40,91,13,944

(b) Goodwill 1,93,068 1,93,068 (c) Long term Loans and Advances '12' 26,86,18,694 25,40,44,222 (d) Other non-current assets '13' 3,84, 77,500 6,59, 77,500

4,84,22,53,808 4, 78,23,68,860 Current Assets (a) Inventories '14' 13,50,60,322 55,87,96,658 (b) Trade receivables '15' 90,62,00,962 85,68,87,987 (c) Cash and cash equivalents '16' 9,13,83, 706 12,15,12,751 (d) Short-term loans and advances '17' 12,60,66,632 11,91,52,958 (e) Other Current Assets '18' 21,77,72,479 12,50,60, 754

1,47,64,84,101 1, 78,14,11,108

See accompanying notes forming part of the consolidated financia l statements '1to43'

Total 6,31,87,37,909 6,56,37,79,968 '" ·r· of'"'"''"'"""'' "" ~ .. " "''"' & ''"' "J:~· '"" Ch• . "'~

t ,:& ----Sunil S. Kothari (Dr. Prakash Bakshi) Partne r Managing Director Director Mumbai : May 27,2016 DIN:- 02628945 DIN:-00269810

~

~~~0YV ~N-~t;. (Vishesh Singhvi) (Puneet Bhandari)

Chief Financial Officer Company Secretary


Shree Shubham Log;st;cs Limited

SH REE SHUB HAM LOGISTICS LIMITED Consolidated Statement of Profit and Loss for the Year ended 31st March 2016

Reven ue Revenue from operations Other Income

Expenses

Particulars

Purchases of Stock in trade*(Refer Note 35) Changes in Inventory of Stock in Trade Employee Benefit s Expense Finance Costs Depreciation and Amortization expense Other Expenses

Profit/(Loss) before tax

Tax expense: Current Tax MAT Credit Entitlement/Reversal Deferred Tax Profit/(Loss) for the Year

Earning Per Equity share: Basic Diluted

Total Revenue

Total Expenses

See accompanying notes forming part of the consolidated financial statements *Includes Primary Processed Prod ucts

In tt ms of our report attached For loitte Haskins & Sells

Cha re~ts

~ Suni l S. Kothari Partner Mumbai : May 27,2016

For the year ended 31st March Note No. 2016

'19' '20'

'21' '22' '23' '24' '25'

"41"

'1to43'

Rs .

2,49,64,30,613 74,74,090

2,50,39,04,703

1,27,56,27,806 40,03,11,140 21,19,16,397 46,20,90,949 12,92,98,033 58,20,56,377

3,06, 13,00, 702

{55,73,95,999)

9,90,511 3,25,26,686

(19,06,29, 771) (40,02,83,425)

(8.30) (8.30)

For the year ended 31st March 2015

Rs.

3,14,07,62,077 23,07,573

3,14,30,69,650

1,48,92,82,943 28, 77,90,556 20,07,81,164

34,22.7 1.797 9,85,23,877

54,10,98,830

2,95,97,49,167

18,33,20,483

3,99,30,921 (3,99,28,387) 7,11,34,838

11,21,83,111

2.22 2.08

'°""'~::;_ (Dr. Prakash Bakshi) Managing Director

DIN:- 02628945

-A·~~~ (Vishesh Singhvi) ~

Chief Financial Officer


Director DIN:- 00269810

(Puneet Bhandari) Company Secretary


Consolidated Cash flow statement for the year ended 31st March 2016

CASH FLOW FROM OPERA TING ACTIVITIES: Net profit/(loss) before taxation

Adjustments for :

Depreciation

Financ4! Cost Interest Received Unrealized Exchange Loss/(Gain}

(Profit}/loss on sale of fixed assets

PartiClllars

OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES

Adjustments for: Trade and other Receivables

Loans and Advances Inventories Trade and other Payables

CASH GENERATED FROM OPERATIONS

Income Tax NET CASH FLOW FROM OPERATING ACTIVITIES

CASH FLOW FROM INVESTING ACTIVITIES: Purchase of Fixed Assets (Net of Subsidy) Proceeds from Sale of Fixed Assets

Conisderation paid on acquistion of subsidiaries Cash and cash equivalents acquired pursuant to acquisition of subsidiary (lncrease)/Oecrease in Bank balances not to be considered as Cash and Cash Equivalents

Interest Received NET CASH USED IN INVESTING ACTIVITIES

CASH FLOW FROM FINANCING ACTIVITIES:


Dividend including Tax on Dividend

Proceeds from Long Term Borrowings

Repayment of Long Term Borrowings

Net increase/ (decrease} in Short Term Borrowings

Proceeds from receipt of Capital Subsidy

Proceeds from receipt of loan from related partiy

Repayment of Loans to related parties

Interest paid (Including interest capitalized Rs 27,S67,602 (Previous Year Rs. 77,229,952)) NET CASH FLOW FROM FINANCING ACTIVITIES

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

Cash and Cash Equivalents at the beginning of the year

cash and Cash Equivale nts at the end of the year

Footnotes:


2016

Rs.

(SS, 73,95,999)

12,92,9B,033 46,20,90,949

(24,16,288) 8,90,946

(44,07,282) 2,80,60,3S9

(18,96,215) (39,90,S02}

42,37,36,336 (16,40,21,Sl 7)

28,18,88,460 (8,84,73,446)

19,34,15,014

(26, 70,42,618) 77,11,000

1,94,30,202

24,16,288 (23,74,8S,128)

(76,46,2S8}

76, l S,69,966

(23,98,02,S96)

(7,94,76,S20}

4,96,49,78S

67,00,00,000

(70,00,00,000)

(42,09,23,10S)

3,33,71,272

(1,06,98,842)

7 ,90,09,568

6,83,10,726

( i} The Cash Flow Statement has been prepared under t he "Indirect Method" as set out in Accounting Standard 3 -Cash Flow Statements.

(ii} Cash and Cash Equivalents: Cash and Bank Balance (Note 16) Less:- Deposits Under Lien with Banks and earmarked balances

Cash and Cash Equivalents as per Cash flow statem ent

(iii) Previous year's figures have been regrouped to confirm with those of the current year.

I terms of o ur report attached F Deloltte Haskins & Sells

c t

1

ered ~counta~ts

~ Sunll S. Kothari

Partner Mumbai: May 27,2016

9,13,83, 706 2,30, 72,980

6,83,10,726

"'~~=:A -(Dr. Prakash Bakshi)

(Managing Director)

DIN:- 02628945

(Vishesh Singhvi} Chief Financial Officer

Mumbai : Mav 27,2016


2015

Rs.

18,33,20,483

9,8S,23,877 34,22,71,797

(23,07,S73)

(1,18,04S)

S,13,4SS 62,22,03,994

(2S,28,44, 72S} 78,34,669

27,64,56,992 (8,78,03,S22}

S6,58,47,408 (10,S0,00,380) 46,08,47,028

(7S,04,70,689) 26,10,061

(1,S1,90,990) 13,89,664

(3,09,43,183)

23,07,S73 (79,02,97,564)

(3,27,42,S76)

(74,31,S22}

64,01,75,684

(20,96,20,1S2}

33,S0,69, 777

(33,3S,04,986)

39,19,46,224

6,24,95,688

1,65,13,880

7,90,09,568

12,1S,12,7Sl 4,2S,03,183

7,90,09,568

~Jd (Kamal Jain)

Director

DIN:· 00269810

J~t· (Puneet Bhandari)

Company Secretary

Shree Shubham Lo91st 1cs Limited

"iotes Form ing Part of Consolidated financial Statements

NOTE : '2' SHARE CAPITAL As at 31st March, As at 31st March,

2016 2015

Rs. Rs.

AUTHORISED:

84,000,000 (Previous Year 84,000,000) Ec uity Shares of Rs.JO each 84,00,00,000 84,00,00,000

16,000,000 (Previous Yea r 16,000,000) Cumulative Redeemable Preference Shares of Rs.10 each 16,00,00,000 16,00,00,000

ISSUED, SUBSCRIBED and PAID-UP:

49,127,876 (Previous Year 49,127,876) Equity Shares of Rs.JO each fully paid up 49,12,78,760 49,12,78,760

15,880,000 (Previous Year 15,880,000) 4% Cumulative Redeemable Preference Shares of Rs.10 each fully paid up 15,88,00,000 15,88,00,000

Total 6S,00,78,760 6S,00,78,760

2.1 Reconciliation of the number of shar es and amount outstanding at the beginning and at the end of t he year

Equity Shares As at 31st March, 2016 As at 31st March, 201S


Shares outstanding at the beginning of the year 4,91,27,876 49,12, 78, 760 4,68,00,000 46,80,00,000

Shares Issued during the year - 23,27,876 2,32,78, 760

Shares outstanding at the end of the year 4,91,27,876 49,12, 78, 760 4,91,27,876 49,12,78,760

Preference Shares As at 31st March, 2016 As at 31st March, 2015


Shares outstanding at the beginning of the year 1,58,80,000 15,88,00,000 1,58,80,000 15,88,00,000

Shares outstanding at the end of the year l,S8,80,000 15,88,00,000 1,58,80,000 15,88,00,000

2.2 Details of shareholders holding more than S% shares in the company as at the end of the year (a) Equity Shares

As at 31st March 2016 As at 31st March, 2015

Name of Shareholder No. of Shares held % of Holding No. of Shares held % of Holding

Kalpataru Power Transmission Limited 3 58 so 000 72.97 3 S8 so 000 72.97 Aditya Gyanendr a Bafna 27 62 500 5 .62 27 62 500 5.62

Tano India Private Equity Fund II 70 07 876 14.26 70 07 876 14.26

(b) 4% cumulat ive Redeemable Preference Shares


No. of Shares held % of Holdln11 No. of Shares held % of Holdin11 Kalpataru Power Transmission Limited 1 35 00 000 85.01 1,35,00,000 85.01

Shubhendra Kumar Bafna 1122000 7.07 11,22,000 7.07

Aditya Gyanendra Bafna 9 51 000 5.99 9,51,000 5.99


Notes Forming Pan of Consolidated Financial Statements

2.3 Terms/Rights attached to Shares :

(1) Equity Shares:

Each ho oer of Equity Shares o' face va iue o' 'ls.10 each is ent tlec to one vote per share. T1e o:v:ceno proposeo by t'le Boaro of Directors 1s

sub1ec: to tne approval of Shareholders in the ensu:ng Annual Geoera Veeting. In the event o' iqu oa:io~. the shareho'de's of equity snares

are elig.ble to receive the remaining assets of the co'llpany after ci1s:r"botion of all preferenral amounts m proportion to their shareholdings.

(2) 4% cumulative Redeemable Preference Shares :

Each holder of Preference Shares having par value of Rs.10 per share is not entitled to voting right on any resolution in General Meeting except

on resolutions which directly affect the rights attached to Preference Shares and by those cumulative Preference Shareholders whose dividend is

due for a period not less than 2 years preceding the meeting. Preference Shares are Cumulative, entitled to 4% dividend on being declared by

the Board of Directors which is subject to approval of the shareholders at the ensuing General Meeting.

2.4 Shares held by Holding Company

No. of Shares No. of Shares Name of Shareholder Type of Share As at 31st March,

2016 As at 31st March, 2015

Kalpataru Power Transmission Limited Equity Shares 3,58,50,000 3,58,50,000 Kalpataru Power Transmission Limited Preference Shares 1,35,00,000 1,35,00,000

2.5 As at 31st March 2016, 545,590 ( Previous Year 545,590) equity shares were reserved for issuance towards outstanding employees stock options

granted.

NOTE: '3' RESERVES AND SURPLUS As at 31st March,

2016 As at 31st March, 2015

Rs. Rs. (a) Securities Premium Account

Balance at the beginning of t he year 35,96,00,482 28,09,21,818 Add:- Premium on Equity shares issued during the year - 11,14,21,240 Less:- Share issue Expenses - 3,27,42,5 76 Balance at the end of the year 35,96,00,482 35,96,00,482

(b) Surplus in Statement of Profit and Loss Balance at the beginning of the year 45,50,61,193 35,27,56,116 Add: Net Profit/( Loss) for the year (40,02,83,425) 11,21,83,111 Less: Depreciation charged to reserve (Refer Note 11.3) - 22,31,776 Less: Proposed Dividend on Preference Shares - 63,52,000 Less: Corporate Dividend Tax on above - 12,94,258 Balance at the end of the year 5,47,77,769 45,50,61,193

(c) Reserve Fund as per Section 45-IC of the Reserve Bank of India Act, 1934 Opening Balance 2,02,264 2,02,264 Add: Transfer from Surplus - -Total 2,02,264 2,02,264

Total 41,45,80,515 81,48,63,939


Notes Forming Pan of Consolidated Financial Statements

NOTE: '4' LONG TERM BORROWINGS

a. Debentures 70 (PreviOJS Year 70) 4.009% Compulsory Convertible

Debentures@ 4,490,000 per Debenture

b. Term loans

Secured Term Loans from Banks

c. Loans from related party

Unsecured Loans and advances from related parties

d. Amount disclosed under the head "Other Current liabilities"

(Note 9}

TOTAL



31,43,00,000

2,92,18,05,970 25,06,32,841

67,39,37,096

(56,49,32,841)

3,59,57,43,066



31,43,00,000

2,40,53,66,123 24,53,05,317

62,85,43,817

(55,96,05,317)

3,03,39,09,940

4.1 The Holding Company had issued 100 unsecured compulsory convertible debentures on 31st May 2013 having face va lue of Rs. 4,490,000 per

debenture carrying interest rate of 4.009%. During the year ended 31st March, 2015, the Company had converted 30 CCDs in to 2,327,876

equity shares. The remaining 70 CCDs shall be converted into equity shares ranking pari passu with the equity shares in FY 2016-17.

4.2 Term loans from Banks

(a) Rs. 606,024,612 (Previous Year Rs.646,654,612) is secured by exclusive first charge on all the assets, including Land, Building and other

assets, created out of the proceeds of the term loan and situated at Chomu, Kota, Jalgaon, Latur, Nagpur, ltarsi, Harda, Neemuch, Sagar, Ujjain,

Vidisha and Dewas and is also personally guaranteed by Mr. Aditya Bafna and Mr. Shubhendra Kumar Bafna. The Term Loan is repayable in

balance 28 quarterly structured installments from May 31, 2016 and the current interest rate is 9.90%p.a.

(b) Rs. 690,789,255 {Previous Year Rs. 743,089,255) is secured by exclusive first charge on all t he assets, including land, Building and other

assets, created out of the proceeds of the term loan and situated at Chomu, Kota, Jalgaon, Latur, Nagpur, ltarsi, Harda, Neemuch, Sagar, Ujjain,

Vidisha and Dewas and is also personally guaranteed by Mr. Aditya Bafna and Mr. Shubhendra Kumar Bafna. The term loan is repayable in

balance 24 quarterly structured installments from May 31, 2016 and the current interest rate is 9.90% p.a.

(c) Rs. 59,343,283 (Previous Year Rs.187,095,003) is secured by first pari passu charge on movable and immovable assets of warehouses at

Jodhpur, Merta, Bikaner, Sri Ganganagar, Kota, Ramganjmandi, Unjha, Deesa and Rajkot and further collaterally secured by second charge on

the stock and book debts and is also personally guaranteed by Mr. Aditya Bafna and Mr. Shubhendra Kumar Bafna . The Term Loan is repayable

in balance 1 quarterly equal installment on May 7, 2016 and the current interest rate is 9.55% p.a.

(d) Rs. 16,731,218 (Previous Year Rs 26,204,193 )is secured by first Pari Passu charge on movable and immovable assets of warehouses at

Jodhpur, Merta, Bikaner, Sri Ganganagar, Kota, Ramganjmandi, Unjha, Deesa and Rajkot and further collaterally secured by second charge on

the stock and book debts and is also personally guaranteed by Mr. Aditya Bafna and Mr. Shubhendra Kumar Bafna. The Term Loan is repayable

in balance 7 quarterly structured installments from April 7, 2016 and the current interest rate is 9.55% p.a.

(e) Rs. 600,000,000 (Previous Year Rs 600,000,000) is secured by first Pari Passu charge over movable and immovable assets of warehouses at

Jodhpur, Merta, Bikaner, Sri Ganganagar, Kota, Ramganjmandi, Unjha, Deesa and Rajkot and is also supported by letter of comfort from our

holding company. The Term Loan is repayable in 28 quarterly structured installments from October 15, 2016 and the current interest rate is

9.35% p.a. (f) Rs. 2,969,577 (Previous Year Rs 5,117,478) is secured against Vehicles, repayable in the range of 14 to 17 balance monthly installments and

the current interest rate is 10.25% p.a.

(g) Rs. 304,080,866 (Previous Year Rs. 242,510,899) is secured against plant & machinery, equipment, other fixed assets and land &

warehousing complexes constructed at Netra and is also personally guaranteed by Mr. Aditya Bafna and Mr. Shubhendra Kumar Bafna. The term

Loan is repayable in 32 quarterly equal installments from July 31, 2016 and the current interest rate is 10.25% p.a.

(h} Rs. 192,500,000 (Previour Year Rs. 200,000,000) is secured by residual charge on fixed movable and immovable assets situated at Chomu,

Kota, Jalgaon, Latur, Nagpur, ltarsi, Harda, Neemuch, Sagar,Ujjain, Vidisha and Dewas and is also persona lly guaranteed by Mr. Aditya Bafna and

Mr. Shubhendra Kumar Bafna. The Term Loan is repayable in 15 quarterly structured installments from June 30, 2016 and the current interest

rate is 10.25% p.a.

(i) Rs. 700,000,000 (Previous Year Rs NIL) secured by first Pari Passu charge over movable and immovable assets of warehouses at Jodhpur,

Merta, Bikaner, Sri Ganganagar, Kota, Ramganjmandi, Unjha, Deesa and Rajkot and letter of comfort by holding company. The Term Loan is

repayable in 28 quarterly structured installments from June 30, 2019 and the current interest rate is 10.42% p.a.

4.3 Term Loans from bank amount ing to Rs. 1,869,469,234 ( Previous Year Rs 2,045,553,962) are guaranteed by Mr. Aditya Bafna and Mr.


4.4 Rs. 630,562,485 (Previous Year Rs. 62,854,3817} unsecured Loan from Holding Company is repayable after 31st March, 2017 and the current

interest rate is 11.65% p.a.

4.5 Rs. 43,374,611 (Previous Year Rs. Nil) unsecured Loan from subsidiary of Holding Company is repayable after 31st March, 2017 and the current

interest rate is 10.50% p.a.


Notes Forming Part of Consolidated Financ ial Statements

NOTE: '5' DEFERRED TAX LIABILITIES (NET) As at 31st March, As at 31st March,

2016 2015

Rs. Rs.

a) Deferred Tax Liabilities:

Depreciation (A) 28,41,24,767 21,96,31,999

b) Deferred Tax Assets:

Unabsorbed Depreciation and Carried Forward Loss 2 7,42, 71,068 1,93,34,137

Others 11,47,384 9,61,777

(B) 27,54,18,452 2,02,95,914

Deferred Tax Liabilities (Net) (A-B) 87,06,314 19,93,36,085

The Group has recognised deferred tax asset on unabsorbed depreciation and carried forward loss as there is sufficie nt deferred

tax liabi lity on the difference between the book balance and written down value of fixed assets under income tax.

NOTE : '6' LONG TERM PROVISIONS As at 31st March, As at 31st March,

2016 2015

Rs. Rs. Provision for Employee Benefits 24,54,422 21,75,760 Total 24,54,422 21,75,760

NOTE : '7' SHORT TERM BORROWINGS As at 31st March, As at 31st March,

2016 2015

Rs. Rs. Secured

Loans repayable on demand from banks 46, 70,81,289 64,65,57,809 Unsecured

Loans repayable on demand from banks 20,00,00,000 10,00,00,000 Total 66,70,81,289 74,65,57,809

7.1 Security

(a) Rs. 164,498,892 (Previous Year Rs. 193,986,720) is secured by first pari passu charge on entire stock and Book Debts

and second pari passu charge on plant and machinery and immovable properties at Jodhpur, Merta, Bikaner, Sri

Ganganagar, Kota, Ramganjmandi, Unj ha, Deesa and Rajkot and is also personally guaranteed by Mr. Aditya Bafna and Mr.


(b) Rs 200,000,000 (Previous Year Rs.200,000,000) is secured by fi rst pari passu charge on current assets of the company

and second charge on movable and immovable properties at Jodhpur, Merta, Bikaner, Sri Ganganagar, Kota,

Ramganjmandi, Unjha, Deesa and Rajkot. (c ) Rs. 94,225,509 (Previous Year Rs. 98,585,408) is secured by first pari passu charge on book debts and st ock at the

company's premises or at such other places as may be notified to the bank from time to time and second pari passu charge

on assets, including Land, Buildi ng and other assets situated at Chomu, Kota, Jalgaon, Latur, Nagpur, !ta rsi, Harda,

Neemuch, Sagar, Ujjain, Vidisha and Dewas and is also personally guaranteed by Mr. Aditya Bafna and Mr. Shubhendra

Kumar Bafna.

(d) Rs. 8,356,888 (Previous Year Rs. 6,063,407) is secured against Fixed deposit receipts held by the Company.

(e) Rs. Nil (Previous Year Rs. 28,026,600) is secured against pledge of Warehouse Receipt of Stock in trade and second pari

passu charge on assets, including land, building and other assets, situated at Chomu, Kota, Jalgaon, Latur, Nagpur, !ta rsi,

Harda, Neemuch, Sagar, Ujjain, Vidisha and Dewas and is also personally guaranteed by Mr. Aditya Bafna and Mr.


(f) Rs. Nil (Previous Year Rs. 49,895,674) is secured by second pari passu charge on assets, including land, building and other

assets, situated at Chomu, Kota, Jalgaon, Latur, Nagpur, ltarsi, Harda, Neemuch, Sagar, Ujjain, Vidisha and Dewas and is also

personally guaranteed by Mr. Aditya Bafna and Mr. Shubhendra Kumar Bafna.

(g) Rs. Nil (Previous Year Rs. 70,000,000) is secured by second pari passu charge on assets, including land, building and

other assets, situated at Chomu, Kota, Jalgaon, Latur, Nagpur, ltarsi, Harda, Neemuch, Sagar, Ujjain, Vidisha and Dewas and

is also personally guaranteed by Mr. Aditya Bafna and Mr. Shubhendra Kumar Bafna.

7.2 Loans repayable on demand amounting to Rs. 358, 724,401(Previous Year Rs. 540,494,402) is guaranteed by Mr. Aditya

Bafna and Mr. Shubhendra Kumar Bafna.

Shree Shubham Logistics Lim ited

Notes Fo rming Part o f Consolidated Financial Statements

NOTE : '8 ' TRADE PAYABLES As at 31st March, As at 31st March,

2016 2015 Rs. Rs.

Acceptances (Refer note 27) - 2,40,80,624 Others (Refe r note 27) 21,22,24,533 24,87,85,948 Total 21,22,24,533 27,28,66,572

NOTE: '9' OTHER CURRENT LI AB ILITIES As at 31st March, As at 31st March,

2016 2015 Rs. Rs

(a) Current maturities of Long Term debts ( Refer Note 4) 56,49,32,841 55,96,05,317 (b) Interest accrued but not due on borrowings 3,12,75,917 3,79,33,751 (c) Other payables

Statutory remittances 1,67,19,593 l, 71,34,584 To Employees 3,72,879 -

Unearned income 85,493 603 Advances from Customers 54,05,787 10,86,58,037 Advance received for assets held for sale 3,00,00,000 21,00,000 Payable for purchase of Fixed Assets 11,78,83,856 11,01,62,187

Total 76,66, 76,366 83,55,94,479

NOTE : '10' SHORT TERM PROVISIONS As at 31st March, As at 31st March,

2016 2015 Rs. Rs

(a) Provision for Employee Benefits 10,46,786 7,19,603 (b) Other Provisions

Provision for proposed preference dividend - 63,52,000 Provision for tax on proposed dividend - 12,94,258 Contingent Provisions against Standard Assets 1,45,858 30,763

Total 11,92,644 83,96,624

Shrtt Shub~m Logistics Umlted

Notes Forming Part or ConsoHdat.ct Flnanclal Statements

Note '11' FIXED ASSETS

I I GR~BLOCK I I OEPRECIATIO~&AMORTIZATION I NE!_B~

Partlculars As It ht Aprll 2015

(a) TANGIBLE ASSETS

lusehold Und l,73,42,952 (Previous Year) 3. 73,42,952

Freehold Land 86,94,56,004

(Previous Year) 87,0S,08,261

Buildincs (Nott no 11.1) 2,83,29,02,996

(Previous Year) 1,73,79,S0,481

Plant and Equipment 30,80,21,727 (Previous Vear) 17,76,26,822

Offtce equipment 3,26.22.840 (Previous Year) 2,75,lS,280

furniture and Fhctures 12,00,32,2SS

(Previous Year) 3,51,14,339

V!!!hides 2,77,83,104

(Previous Year) 2,15,61,289

Computer 2.22,66,672 (Previous Year} 1,86,85,010

Total la) 4,25,04,28,550

Previous Year 2,92,63 04,434

(b) INTANGIBLE ASSETS· Others

Computer Software 4,82,30,962

(Previous Vear) 4,11,62,155 I

Copy right & Tn•de Marlc. 53,45,505 (Previous Year) 5o.92,u3 I

Additions durin1 the I Rec:laulntd Auets yeu htld for u lts

46,72,08,989

1.10,46,01,490

17,30,96,825 13,03,94,905

1,07,44,883

51,07,560

44,81,332

8,49,17,916

7,00,893

1,0S,56,444

14,48,419

38,71,662

65 76,81 341 1,33,94,49 977

4,68,807

2,53,372

2,09,25,412

S,21,69,282 10,52,257

69,13,376

28,98,975

8,00,08,070 39,51,232

O.dU<"tlon1durfnc IAdJustmentsduringthel A 3

M h thtytar yHr(ReftrNote11.2) sat lst arc ,ZOlG

40,85,457 43,34,629

2,90,000

40,85,457 46,24,629

67,S0,000

67,50,000

1.64.17,540 3,73,42,952

81,72,86,722 86,94,56,004

3,29,31,98,609

2,83,29,02,996

48,11,18,552 30,80,21,727

4,33,67,723

3,26,22,840

12,45,13,587 12,00,32,255

2,43,98,540 2,77,83,104

2,37.15,091 2,22,66,672

4,82,40,16,364 4,25,04,28,550

4,82,30,962

4,82,30,962

SJ,45,505

53,45,505

12,06.41,243

8,39,86,909

5,54,24,346 2,89,66,012

1,22.73.230 27,40,417

t,35,44,228

56,01,370

79,62,133 64,08,979

l, 55.61,505 82,34,237

22,54,06,685 13,59,37,924

2,12,29,415

1,17,16,331

43,28,790

32.92.201

fortt'le year

4,77,72,6S8

3,70,39,630

4,47,93,220 2,64,10,932

78,89.325 89.98,257

1,27,14,818

79,42,858

27,06,461

28,18,lSO

34,39,257 47,64,377

11,93,15,739 8,79,74,204

95,04,352 95,13,084

4,77,942

10,36.589

Transfer to resrvt

(Refer Note 11.3)

•?.•02 I

S.34 ,5561

27,99,0091

33.80,967 I

elimination on

reclassifleation Assets held for sales

10,27,870 3,85,296

10,27,870 3,8S.296

I

Recouped

8,620

I

22,39.0531 12,64,995

2,36,118

22,47 613 lS,01,113

As at 31st M~rch, 1016 I As at 3151 M;Hct-, 2016

---

1 f•J J7 s.:o I \ 73 .l} t'\C-,}

Al,/l.R672l

16.7'.71,411 I }If, ')J 56,00 1

l )25811.taR

12.06.41."' I 2 71.ll(l) ;llli.1

10,0l . ll ,~66 J8.0!} 00 9Af;

5,51\,14 "M!i l"i . 2~. 97 . Ht i

I

2,01.62.SS<; } l}C<i.H;: I

1.22.73 ]lO }.Ql_Jq f.10 I

2.6).\4),Q.16 • ·2" ,,, I

1,1<;,44,228 l0.64"R.07'

84 l'l.~·11 l "iCJ f.R C1q9

/9,62 .11.! I q-3 2C.9"'i..I \

l,90.00,761 .:7 ~ l l JCJ

1,55 61!>0!> (•1 .0 .. . lf.7

------< 34,!:l/1G,8Rl 4 ;18 ,J'"i .C.CJA83 ------; 22,S4,06 ,686 1 4 ,07 , 'i0.1.1 .8(,~ ----;

' 3,07,Jl,766 I 1,7.!(j/.1%

2.11.1._,l, I 2,!r.,01 .547

48 06.733 S. '1t7'7 JU8.7'm 10.lf 715

I Total (b) ;:> ;:>;:> ,u .. u, .............. .,. .. ........ .,..£.,.,,, .,,.,,,.,,,,£7"0 1,SS.40 . .!')'l . i ,io. ~~.%R S3S76 467 5,35,76,467 2,55,58.20S 99,82,294

!Previous Year) 5,28,54 288 I 7,22,179

Total (a+ b} 4,30,40,05,017 6S,76,81,341

/Previous Year\

8,00,08,070 40,85,457 46,24,629

5,lS,76,467

4,87,75,92,831 67,50,000

1,50,08,532 1,0S,49,673

25,09,64,890 12,92,98,033 15,09,46,456

10,27,870 22,47,671 l5 ,01,1 l3

2,SS.58.JO\ I )_80 IR ?0

J'io.Oq,64_891 .l_OC..30 .!;)_ ll6

J~~C!~. A],lRO. I ;·,0.06,05',l I , .. u '"'""'' n"'"' .. ., --=--_ '~J S<J.ug:., j

PreviousYur _____ .io.ri111.q.1.1

2,97 91 S8,722 1,34,01.72.156

Capital Work rn Pro-···· 10- 1 - · "'1-•- .,.

4,30,40,05_,01?_ - - 9!~~.23,8 77

11.l The 1imount of interest capitalized durin1 the ~ar is Rs, 27,567,602 (Previous Ye ar Rs. 77,229,952). 11.2 Capital Subsidy amounting to Rs. 49,649,785 {Previous year Rs. 6,7SO,OCK>) 1s received durin1 the year under the scheme framed by MOFPI (Previous year Gramin Bhandaran Yojana) for construcbon of cold storage chain warehouse and the same .s ad,usted against the value of Capital Work In Progl'ress 11.3 Effective from 1st April, 2014, the Company had charaed depreciation based on the remaining unful life of the assl!!ts H per the requirl!!menu of Schedule II of the Companies Act, 2013 rthe Act"). Consequtnt to this, depreciation charge for the Year t ndtd on 31st March, 2015 1s higher by Rs 11, 73!'.1,384 In accordance wllh 1hc> '~°'n~11IM~ I rrnvi\1om

provided in Note: 7(b) of Schedule Hof the Act, an amount of Rs. Nill ( Previous Year Rs. 2,231, 776) (net of dererred tax of Rs, 1,149,191) was adjusted against the optnln1 balance of retained earnings in respect of assets wherein t he remaining useful hfe of the Hsets is Nit


Notes Forming Part of Consolidated Financ ia l Statements

I

NOTE: '12' LONG TERM LOANS AND ADVANCES As at 31st March, As at 31st March,

2016 2015 Rs. Rs.


Capital Advances 1,36,54,262 5,11,12,867 Advance Income Tax and TDS (net of provisions Rs . 91,669,455) 16,06,45,154 7,31,62,219 MAT Credit Entit lement 9,06, 76,409 12,32,03,095 Security/Ea rnest M oney Deposits 36,42,869 65, 66,041

Total 26,86, 18,694 25,40,44,222

NOTE: '13' OTHER NON-CURRENT ASSETS As at 31st March, As at 31st M arch,

2016 2015

Rs. Rs. Subsidy Deposit 3,84, 77,500 6,59, 77,500 Tota l 3,84,77,500 6,59, 77,500

NOTE : '14' INVENTORIES As at 31st March, As at 31st March,

2016 2015 Rs. Rs.

(a ) Stock in t rade 13,37,46,860 53,40,58,000 (b) Packing Mat erial and Consumables 13,13,462 2,47,38,658

Tota l 13,50,60,322 55,87,96,658

NOTE: '15' TRADE RECEIVABLES As at 31st March, As at 31st March,

2016 2015 Rs. Rs.


(a) Outstanding for a period exceeding six months from t he date they were due for payment 20, 76,91,207 18,57,29,384 (b) Other 69,85,09,755 67,11,58,603 Tota l 90,62,00,962 85,68,87,987

NOTE: '16' CASH AND CASH EQUIVALENTS As at 31st March, As at 31st M arch,

2016 2015 Rs. Rs.

(a) Cash and Cash Equiva lents

(i) Cash on hand 9,27,072 12,01,051 (ii) Balances with Banks in Current Account s 4,28,83,654 7,78,08,517 (iii ) Deposit with Banks (FDR) (Less than 3 Month) 2,45,00,000 -

(b ) Other Bank Balances (i) Deposits with original maturity more than 3 months but less then 12 months (Refer Note 16.1) 1,30,07,980 3,23,93,183 (ii) Deposits w ith o riginal maturity more t han 12 months (Refer Note 16.1) 1,00,65,000 1,01,10,000 Total 9,13,83,706 12,15,12,751

16.1 Balances with bank held as margin money and security aga inst borrowings, guarantees and other commitments.


Notes Forming Part of Consolidated Financia l Statements

I NOTE: '17' SHORT-TERM LOANS AND ADVANCES As at 31st March, As at 31st March,

2016 201S Rs. Rs.

Secured, considered good Loans given to others 5,81,83,161 1,23,05,044 Unsecured, considered good Loans and advances to e mployees 270 12,16,053 Advances to Creditors 1,46,41,469 4,88,19,199 Balances with government aut horities Additional Custom Duty Refundable 32,13,278 81,58,581 VAT Credit receivable 70,13,320 1,43,11,464 Security/Earnest Money Deposits 2,58,84,254 2,55, 16,615 Pre paid Expenses 1,71,30,880 88,26,002

Total 12,60,66,632 11,91,52,958

NOTE : '18' OTHER CURRENT ASSETS As at 31st March, As at 31st March,

2016 2015 Rs. Rs.

Unbilled Reve nue 7,18,94,843 11,33, 71,097 Service tax credit receiva ble 6,30,273 -Subsidy Deposit 2,75,00,000 Fixed Assets held for sa le 11,61,94,421 35,65,936 Export Incentive Receivable 15,52,942 81,23,721

Total 21,77,72,479 12,50,60, 754

NOTE : '19' REVENUE FROM OPERATIONS For the year ended For the year ended 31st March, 2016 31st March, 2015

Rs. Rs. (A) Sale of Trading Products*(Refer Note 35) 1,65,72, 19,991 1,87,57,43,382 (B) Sale of Services from

1) Procurement Income 2,02,36,508 12,92,44,885 2) Warehousing Services

a) Storage Services 77,65,20,490 1,09,00,52,660 b) Weighment Services 30,89,088 41,31,710

3) Collateral Management and Funding 1,59,15,270 1,14,79,777 4) Testing and Certification and Pest Management Services

Testing and Certification 1,22,38,433 1,84,68,510 5) Interest Income earned 72,88,979 8,69,907

(C) Other Operating Income Export Benefits 16,07,581 96,47,801 Processing Fees Received 3,64,555 12,015 Sample Sale Income 19,49,718 11,11,430

Total 2,49,64,30,613 3,14,07,62,077 *Includes primary Processed Product

NOTE : '20' OTHER INCOME For the year ended For the year ended 31st March, 2016 31st March, 2015

Rs. Rs. Interest Income 24,16,288 23,07,573 Miscellaneous Income 3,44,276 -Dividend received 3,06,244 -Profit on Sale of fixed assets 44,07,282 -

Total 74,74,090 23,07,573

NOTE : '21' CHANGES IN INVENTORY OF STOCK IN TRADE For the year ended For the year e nded 31st March, 2016 31st March, 2015

Rs. Rs. Stock in trade at the beginning of the Year• 53,40,58,000 82,18,48,556 Stock in trade at the end of the Year• 13,37,46,860 53,40,58,000

Total 40,03,11,140 28, 77,90,556 *Includes primary Processed Product

NOTE: '22' EMPLOYEE BENEFITS EXPENSE For the year ended For the year e nded 31st March, 2016 31st March, 2015

Rs. Rs. Salaries a nd Wages 20,47,97,221 19,08,16,068 Contributions to Provident and Other Funds 61,80,844 73,63,233 Staff Welfare Expenses 9,38,332 26,01,863

Total 21,19,16,397 20,07,81,164

Shree Shubharn Logistics Limited

Notes Forming Part of Consolidated Financial Statements

NOTE: '23' FINANCE COSTS

Interest Expense on Borrowings

Others Total

NOTE: '24' DEPRECIATION AND AMORTISATION EXPENSE

Depreciation on Tangible Assets

Amortization on Intangible Assets

NOTE: '25' OTHER EXPENSES

Advertisement expenses

Bank Commission & Charges

Charity & Donation Computer expenses

Conveyance expenses

Director Sitting Fees

Electricity expenses Freight and Forwarding expenses

Fumigation expenses

Godown Rent

Insurance Charges

ISO Charges Legal and Professional expenses

Loss on sale of assets

Net Loss on Exchange Rate variation

Postage & Courier expenses

Rent

Repairs and Maintenance


Total

Stationery, Printing and Drawing Expenses

Stores, Spares and consumables

Taxes and Duties

Telecommunication Expenses

Testing Expenses

Travelling Expenses

Vehicle Expenses

Water Charges

Payment to Auditors Audit Fees Other Services & Reports

Share of RSWC*

Miscellaneous expenses

*The Group has entered into a MOU with Rajasthan State Warehousing Corporation

(RSWC), a Government of Rajasthan Undertaking, for storage of Agriculture/Non

Agriculture commodity on the basis of sharing of revenue for own and RSWC

warehouses. The share of RSWC for the revenue billed by company is shown as

operating expenses in the Statement of Profit and Loss .



Rs.

45,26,35,829

94,55,120

46,20,90,949

Rs.

34,01,65,140 21,06,657

34,22, 71, 797



Rs. 11,93,15, 739

99,82,294

12,92,98,033

Rs. 8,79,74,204

1,05,49,673

9,85,23,877



Rs.

13,48,800

9,24,556

5,69,011

19,62,337

48,26,818

9,13,375

2,56,22,454

2,88,38,419 3,32,53,926

23,07,89,081 3,77,21,166

3,57,539

3,02,10,171

7,70,569

15,69,026

2,55,37,965 1,04,82,138

38,920

28,93,905

4,90,08,851

26,99,274

77,25,670

91,295

1,29,63,434

49,16,580 14,95,386

22,77,500 34,200

1,40,25,271

4,81,88,740

58,20,56,377

Rs.

15,46,164

43,01,031

11,24,893

14,76,428

55,17,526

2,52,810

1,75,61,886

2,56,08,568 3,59,69,156

21,07,06,821

4,31,66,751

2,32,082

2,33,40,686 5,13,455

22,67,378

25,38,509

1,96,88,089 1,31,25,990

56,02,955

38,62,481

2,57,30,733

18,76,382

58,66,186

7,65,615

1,23,82,146

55,56,888 15,93,671

17,07,990 73,034

1,40,69,167

5,30, 73,359

54,10,98,830


Notes Forming Part of Consolidated Financia l Statements

NOTE : 26 Cont ingent liability in respect of

Particulars

a) Bank Gaurantees Given

b) Claims against the Group not acknowledged as debt

c) Income tax disputes under appeal d) Preference Share Dividend payable on 4% Redeemable Preference Shares

for FY 2015-16

31st March, 2016

Rs.

37,01,40,047

13,93,32,003

63,52,000

31st M arch, 2015 Rs.

55,32,30,04 7

1,00,87,118

42,15,359

e) The Group had received a letter from its term lender for projects in Rajasthan and Gujarat stating that the subsidy applied under

Scheme of Development /Strengthening of Agriculture Marketing Infrastructure, Grading and Standardization (AMIGS) for its Agri

Logistics Parks has not been approved on technica l grounds as stated in the Joint Monitoring Committee report and has recal led

the advance subsidy of Rs. 22,500,000. The said advance capital subsidy received by the Group is credited to the relevant fixed

assets of the Group in the year of receipt. The Group has represented the matter to National Bank for Agriculture and Rural

Development (NABARD) and Directorate of Marketing & Inspection (DMI), Delhi. DMI has initiated the process for reviewing the

same in the light of submissions made by the Group. The Group believes that the projects are well qualified uncier the said subsidy

scheme and the same would be approved bv the relevant sanctioning authorities. f) The Group has filed a writ petition dated May 6, 2009 before the Rajasthan High Court, Jaipur against the Board of Revenue,

Revenue Appellate Authority, the Sub-Divisional Officer, Ramgarh, and others, challenging their orders dated April 1, 2009, August

20, 2008 and February 5, 2008, respectively, pursuant to which the revenue authorities had invalidated the transfer of land

measuring 1.895 hectares situated at Ramgarh district Alwar, to the Group, alleging contravention of the Rajasthan Land Revenue

(Conversion of Agricultura l land for Non- Agricu ltural Purposes in Rural Areas) Act, 1992. The Group has prayed inter-alia, for an

order quashing the o rders dated April 1, 2009, August 20, 2008, and February 5, 2008, and declaring the entire proceedings

initiated by the Sub-Divisional Officer as illegal, arbitrary and unconstitutional, or in the alternative, remanding the case to the Sub

Divisional Officer, on the grounds that the order was passed without providing an opportunity to be heard. The High Court through

its interim order dated May 11, 2009 granted an interim stay agai nst the operation of the challenged orders. The value of the land

and building, involved in t he matter, at book value is Rs. 83,175,559. The matter is currently pending and the Group does not

expect any liability on account of the same.

NOTE 27 Based on the information available w ith the Group, there are no enterprises covered under the definition of Micro and

Small enterprises under the Micro, Small and Medium Enterprises Development Act, 2006 (the Act). This has been relied upon by

the Auditors.

NOTE 28 Two instalments of capital subsidy received under the scheme framed by the Ministry Food Processing Industries (MOFPI)

is credited to the capital work in progress.

NOTE 29 The estimated amount of contracts remaining to be executed on capital account, for tangible assets, not provided for (Net

of Advance) is Rs 135,398,916 (Previous year Rs.210,728,536).

NOTE 30 Net payable Foreign Currency Exposure that is not hedged by derivative instruments as at 31st March, 2016 is amounting

to Rs. 12,031,423 (Previous Year Rs.40,284,094).

NOTE 31 The Group is engaged in the activity of providing integrated post-harvest management solutions including warehousing,

procurement, testing and certification , collateral management and supply chain management of agro-commodities. The Group

has only one reportable segment which is, integrated post-harvest management solutions,. Hence, the financial statements are

reflective of the information required by Accounting Standard 17 specified under Section 133 of the Companies Act, 2013, read

with Rule 7 of the Companies (Accounts) Rules, 2014 and the relevant provis ions of the Companies Act, 2013.


Notes forming part of Consolidated Financial Statements

NOTE 32 Employee Stock option Scheme 2014 ("ESOS 2014")

The Group has introduced ESOS 2014 through the resolution passed by the Boaro of Directors on 1st October. 2014 in pursuance of the poweis g'ven by the

Shareholders at the Extraordinary General Meeting held on 25th August, 2014. Under the scheme, options for S45,590 (Five Lakhs Forty Five Thousand Five

Hundred and Ninety) equity shares have been grantee to eligible employees of the Company and each option (aher it is vested) 1s exercisab e for one equity share having face value of Rs.10 each for an exercise price of Rs.150 Vesting of the options shall take place over a maximum period of 5 years w ith a

minimum vesting per•od of 1 year from the date of grant i.e. 1st October, 2014. The Board of Directors have formed Compensation Committee through resolution passed on 7th January, 2015 to administer the scheme.

a) During t he year ended 31" March 2016, t he Holding Company had Share-based payment arrangements, as described below:

Tvce of Arrangement General Employee stock option plan

Date of Grant 1st October, 2014 Number Granted 5,45,590

The options would not vest earlier than 1 year and not later than 6 years from the grant date. The

schedule of vesting is as under: Vesting Date Vesting Percentage

Vesting period 1st October, 2015 15% 1st October, 2016 15% 1st October, 2017 20% 1st October, 2018 20% 1st October, 2019 30%

The options granted shall be capable of being exercised within a period being not more than two years

Exercise Period from the date of Vesting of the respective Employee Stock Options.

b) Movement of the stock options is as follows:

Type of Arrangement 31" March 2016 31" March 2015

Outstanding at the be11ining of the vear 5,45,590 Granted 5,45,590 Forfeited Exercised Outstanding at the end of the vear 5,45,590 5,45,590 Exercisable at the end of the vear 81,839 -

The estimated intrinsic value of each stock option granted in the employee stock option plan is Rs. 127.24. This was calculated by an independent valuer as

per Discounted Cash Flow Method.

c) Fair Value

The fair value of options used to compute proforma net income and earnings per equity share have been done by an independent fi rm of Chartered Accountants on the date of grant using the Black-Scholes Model.

The Kev assumctions in the Black-Scholes model for calculatine fair value as on the date of uant are; Assumtion

Weiehted averaee Risk Free Rate 8.65% Weighted averaee exoected life lvearsl 4.35 Expected Volat ilitv 0.00001% Expected Dividend Yield 0%

Had the compensation cost for the stock options granted under ESOS 2014 been determined, based on fair-value approach, the Group's net profit and earnings per share would have been as per the proforma amounts indicated below:

Particulars For the year ended 31" For t he year ended 31"

M arch 2016 March 2015

Rs. Rs. Net Profit (40,02,83,425) 11,81,50,348 Add: Compensation Expenses under ESOS included in

-the Net Profit Less: Compensation Expenses under ESOS as per Fair

50,04,240 25,50,533.27 Value Net Profit (Fair value basis) (40,52,87,665) 11,55,99,815

Basic Earnings Per Share (Reported) Rs. per share (8.30) 2.34

Basic Earnings Per Share (Fair value basis) Rs. per (8.41)

#:§~~\ share 2.29

Diluted Earnings Per Share (Reported) Rs. per share (8.30) 2.19

Diluted Earnings Per Share (Fair value basis) Rs. per (8.41)

share 2.14

1~:_)~1 a v}O". "VJ

IYs * ·0>"' --

Shree St\ub~am logist.cs Lin"'1teo l\otes forminR part o f Consoi.oatcd financial Statements

33 RC'latcd Party d ·sciosur('S for the year e nded 31st March, 2016

Related Panv disclosures a s required by Accountin2 Standard 18 a<e given below

lis t of Related Parties

Koalpararu Power Tran!>m1-..,1on l1m1tcd

JMC Pro1ect s (Indra) l1m•tl"d

Arvmd Silk Mills Povate l1m1tt>d"

llhngworth Marketinc Pt1vate limited ·

Al1purba1 11.,m.m1ssion l1m1ted

Energy link (Indra) limited

Amber Rea l [state l1m1ted

Kalpataru Powe1 T1am;mrssion (Mauritius) limited

Ka lpataru South Af11ca (Pty) l imited

K<tlpataru Power Transmission Nigeria limited

Kalpataru Power Transmission USA tnc

Adeshwar lnfralxlild limited

Ka fpataru Satpura Transco Pvt ltd

LLC Kalpatarn Power Transmission Ukraine Katpataru Metfeb Pvt Limited ( formaly Known as Gestamp Kalpataru Sola1 Steel St1ucture

P1iv.Jte limited)

JMC Mining and Quarnes Limit ed

Saicharan Properties Limited

Brij Bhoomi fx:pressway Private Limited

Wainganga Ekpressway Private Limited

Vindhyachal EKpresswa y Priva te limited

Punarvasu Holding & Trading Co. Pfivate Limited

Kalpataru Power DMCC (Fonne rly Ka lpataru Power JLT)

Aditya Bafna HUF (upto 23. ll.201S}

Gyanendra Bafna HUF (upto 23.ll.2015)

Shubhendr.1 Kumar Bafna HUF lupto 23.11.2015)

Shubham Fiscal Services Pvt. ltd. jupto 23.ll.2015)

Of- Pr aka.sh Bak.s._ (w.e.f. 01.10.2014 )

Mr. Aditya Gyancndra 8afna (upto 04.08.2015)

Mr. Shubhendra Kumar Bafna (1Jpto 23.11.2015)

Ms. Mamta Safna (upto 23.11.2015) Ms. Ridhi Bafna (Ypto 23.11.2015)

Relationship

H~ding Comp.1riy

Fellow Subsid•a'V

Ent1t1es 1n which Add111onal Non-Executive Director exer,ise!> ~.gnif1c;;1nl influence

ln1111es m which Add•t•onal Non·Ellecut1ve D11ector eJ1ercises uen1f1cant mfluence

Fellow Subs1d.ary

Fellow Subs1d1ary

Fellow Subsidiary

Fellow Subsidiary

Fe llow Subsidiary

r cllow Subsidiary

Fel low Subsidia1y

Fe llow Subsidiary

fellow Subsidiary

Fellow Subsidiary

Fellow Su~diary

Fellow Subsidiary

Fellow Subsidiary

Fellow Subsidiary

Fellow Subsidi ary

Fellow Subsidiary

Fellow Subsidiary

fe llow Subsidiary

Entities in whi ch KMP ex:ercises significa nt influence

Entities in whi ch KMP exe1Cises significant influence

Ent ities in which KMP cx:ercises significant influence

Ent ities in which kMP e-xercises significant influence

Kev Managerial Personnel ·Managing Director

Key Manageriill Personnel· Executive Director

Kev Managerial Personnel· Executive Director Rela tive of Executive Director

Re lative of hecutlve Director

•one of the Additional Non Executive Director appointed with effect from 11th April 2016 has significant influence in these entities.

Transactions with Related Parties In ordinarv course of business are

Sr No.

Interest hpense Kalpataru Powe r Transmission Limited

Amber Re.JI fstilte L1m1te-d

Rent Expense Ka!pataru Power Transmission Limited

3 Salary & Commissfon Mr. Aditya Gyanendra Bafna

Mr. Shubhe ndra Kumar Bafna

Dr. Pra kash Ba kshi

4 loans Taken

Amber Re-al Estate Limited

Repayment of loan Kalpata ru Power Transmission Limited

Amber Real Estate limited

6 Advance received for sales of Land

Paniculars

Kalpataru Metfab Priva te limited ( formerly Known as Gestamp Katpataru Solar Steel

Structure Private limited)

7 Dividend Paid Mr. Aditya Gyanendn Bafna Mr. Shubhendra Kumar Bafna

Ms. Ridhi Bafna

Kalpataru Power Transmission Limited Shubham fisQI Services Private Limited

Balances with Rela ted parties as 1t 31st March 2016

Sr No.

Loans Taken

Kalpataru Power Transmission Limited Amber Real Estate Limited

Trade & Other Payables

Dr. Prakash Bakshi

Other Current liability

Particulars

Holding Company Fellow Subs1d1ary

Holding Company

Kev Managerial Personnel Key Managerial Pe rsonnel Key Manage rial Per.sonnc l

Fe llow Subsidiary

Holding Company fellow Subsidiary

f ellow Subsidiary

Relationship

Ke y Mam11geri1I Pe-nonnel Key Managerfa;I Personnel

Relative of Executive Director Holding Company Entities in which KMP exercises si~nificant influence

Holding Company

Fellow Subsidiary

Key Managerial Personnel

Relationsh ip

Ka1pataru Metfeb Pvt limited ( forme1ly Known as Gestamp Kalpataru Solar Steel Structure Fellow Subsidiary Private Limited)

4 Trade Receivable

Arvind Silk Mills Private limited

Illingworth Marketing Private Limited

Entitie s in which Additiona l Non Executive Oirector exercises

signific.ant influence

Entities in which Additional Non Executive Director exercises

.si1mific.ant influence

3.lst March 2016

Rs.

7,44,65,187

93,05,123

2,31,485

27,67,690

35,23,100 1,05,39,600

70,00,00,000

6,50,00,000 66,50,00,000

3,00,00,000

3,80,400

4,48,800 70,400

54,00,000

52,400

31st March 2016

Rs .

63,05,62,485 4,33,74,611

22,50,000

3,00,00,000

31st March 2015

Rs.

7,00,07,988

1,88,600

80,43,600 60,39,600

52,69,800

3,80,400

4,48,800 70,400

54,00,000

52,400

31st Ma rch 201S

Rs.

62,85,43,817

7,So,ooo

Stnet' Shubhrn• Lo91s11cs Lumted

.\ctes Form1nq Part of Ccnsohda1ed f1nanc.a Staten-enl::.

j r-OTE '34' Ret irement Scncft p 1ans --- - -- -- - - -

a) Def ned contr'.bu t1on Plans

Tne Group made contr but1ons towards prov1der\t f1..f'a, a def,ned tOf'lr1b\..t•on ru··ement bertef t pian tor aua ,ty•llg employees The orov•dent furid ,5 ope1a1ea b-y 1he Reg1ona Prov•dent Fund

ComfT'1SS10r't''

The Group re<og111zed Rs S.30.4,639 (Previous Vear Rs S.397.97~ I for prov1dent fund cont r1but•ons 1n the Statement of Prou & LO$S

The contr•outions p.lyab1e to these plans by t'le Group are at r.ltes specif,ed 1n the rules of the scheme

bl Defined Benef it plans

The Group made annu.ll contributions to ihe Employee's Group Gratuity cash accumulation scheme of the SBl l ife, a funded defined benefit plan for qualifying employees The Scheme provided for

payment to vested employees at retirement/death while in employment or on termination of employment as per the provisions of the Gratuity Act, 1972

The present value of the defined benefit obligation and the related current service cost were measured ustng the Projected Unit Credit Method as per actuaria l valuation earned out at the balance

sheet date.

The following table sets out the status of the gratuity plan as required under AS-lS and the amounts recognized in the Group's financial statements as at 31s t March,2016


Rs. Rs. Change in present value of obligations :

Obligations at beeinning of the year 52.87,883 25,89,501 Service Cost 11,52,024 17,42,554 Interest Cost 3,77,066 2,32,842 Actuarial (gain)/loss 111,95,150) 7,34,928 Benefits paid 13,4 6,902) 111,942) Obhgations at the end of the year 52,74,921 52.87.883 Chang~ in Qian asset s ; Fair value of plan assets at the beginning of the year 46,97,031 32,03,242 Expected returns on plan assets 4,20,606 2,91,135 Employer Contributions 12,17,801 Actuarial (loss)/gain (50,509) 13.205) Benefits paid 13,46,902) (11,942) Fair Value of plan assets at the end of the year 47,20,226 46,97,031

Rg~2ns:iliatlon Qf Pr~i~nt Val!:!~ of Obligation and the fair value of ~Ian assets : Present value of the defined benefit obligat ion at the end of t he year 52,74,921 52,87,883 Less: Fair value of plan asset s 47,20,226 46,97,031 Funded status (5urplus/(deficit)) 15,54,695) 15,90,852)

~ra tult)'. '2U f Qr lhe )'.gar Service Cost 11,52,024 17,42,554 Interest Cost 3,77,066 2,32,842 Expected returns on plan assets (4,20,606) {2,91,135) Actuarial {gain)/loss 111,44,641) 7,38,133 Net Gratuity cost charced to Statement of Profit and loss (36,157) 24,22,394 Assumptions :

Discount rate 7.80% 7.70% Est imated rate of return on plan assets 7.80% 8.00% Annual increase in sal.lrv costs 7.00% 7.00%

Partkulas 31st March 2016 31st March, 2015 31st March, 2014 31st March 2013 Rs. Rs. Rs. Rs.

h oer'enc:e Adiustment Oeflned benefit obltuUon 52 74 921 52 87 883 25 89 SOl 17 37910 Pl.1nanets 4710226 4697031 320} 242 16,88,475 Surnluslldeflcit s 54 695 590852 6 lJ 741 49,435 hoerience .1d uttments on o1•n llabiJities [ IGa!ns) / losset 1 (1097 739 174056 2 61 667 11,23.299 Exoerience ad'unmen1s on l.1n anets I Gains I fl osses\1

'"' 509 3 205 121 322 (9,861

Shree Shubharn Logistics Limited

Notes Forming Part of Consolidated Financial Statements

NOTE : 35 Sales and purchase of product comprise of:

Purchase

Particulars 31st March 2016 31st March 2015

Rs. Rs. Jeer a 12,43,36,816 85,89,21,764 Groundnut/Seed 42,19,948 1,16,37,500 Almond 75, 79,84,662 30,04,25,241 Other 38,90,86,380 31,82,98,438

Total 1,27,56,27,806 1,48,92,82,943

Sales


Rs. Rs. Jeer a 89,38,80,430 1,14,38,87,667 Groundnut/Seed 3,88,74,952 15,82,14, 788 Almond 13,31,11,425 29,36,29,162 Other 59,13,53,184 28,00,11,765

Total 1,65,72,19,991 1,87,57,43,382

NOTE: 36 CIF Value of Imports

Particulars 31st March 2016 31st March 2015 Rs. Rs.

Raw Material and Components 3,74,87,061 14,99,80,304 Capital Goods 1,20,87,000 38,87,295.00

Total 4,95,74,061 15,38,67,599

NOTE : 37 Expenditure in foreign currency on account of:


Rs. Rs. Travelling Expenses 6,35,689 7,81,932 Bank Charges 93,270 35,423 Interest on compulsorily convert ible debentures 1,26,00,287 1, 72,01,488 Share issue expenses - 48,67,000 Membership and Seminar Expense - 5,25,755 Sa les Promotion Expenses 14,53,273 -Rent Expenses 4,05,517 -

Total 1,51,88,036 2,34,11,598

NOTE : 38 Earnings in Foreign Exchange:


Rs. Rs. FOB value of exports 5,24,67,034 16,19,99,772

NOTE 39 The Group's significant leasing/ licensing arrangements/ {leasing arrangements) as lessee are mainly in respect of

Warehouses I Godowns/Office. The aggregat e lease rental paid/payables on these leasing arrangements are charged as Godown

rent/office rent amounting to Rs 256,327,046 { Previous year Rs.230,394,910)

The Group has entered into operating lease arrangements for certain facil ities and office premises. The leases are non-cancellable

and are for a period begining from 18th Nov 2013 t o 17th Nov 2022 . The lease agreements provide for an increase in the lease

payments by 15% in every three years.

Future minimum lease payments

Not later than one year Rs.3,658,741 (Previous year Rs.3,466,632)

Later than one year and not later than five years Rs.16,765,426 (Previous year Rs.15,839,547)

Lat er than five years Rs. 7,475,479 (Previous year Rs.12,060,100)

Note : 40 CSR Expenditure


Rs. Rs. (a) Gross amount required to be spent by the Group during the year 37,99,789 28,54,854 (b) Gross amount spent by t he Group during the year - -

:<>-o~M Lo 1 1 ~0~ 1 ~ VJ

IYs * ·()V -


Notes Forming Pa rt of Consolidated Financial Statements

NOTE '41'

EARNINGS PER SHARE

Basic

We'ghted average no. of eouity srares

!\et profit for the Year Preference oividend including tax thereon

Profit after tax attributable to the Equity Share holders

Basic Earnings per share Nominal value of equity share

Diluted

Weighted average no. of equity shares

Add: Weighted average number of potential equity shares on account of

Compulsory Convertible Debenture

Weighted average no. of equity shares for diluted EPS Profit after tax attributable to the Equity Share holders Diluted Earnings per share

1\os.

Rs. Rs.

Rs.

Rs. Rs.

Nos.

Nos.

Nos.

Rs. Rs.

No. of shares as No. of shares as

at at


4,91,27,876 4,71,44,398

(40,02,83,425) 11,21,83,111

76,45,115 76,45,115 {40, 79,28,539) 10,45,37,996

(8.30) 2.22

10 10

4,91,27,876 4,71,44,398

76,37,623 84,96,289

5,67,65,499 5,56,40,687

(39,96,89,212) 11,58,92,699 (8.30) 2.08

41.1 The weighted average number of potential equity shares for the year ended 31st March, 2016 has been derived considering the applicable

conversion ratio of compulsorily convertible debentures {CCD) into equity shares as at 31st March, 2016.

41.2 Since the convertible debentures issued are anti dilutive, hence diluted EPS is the same as Basic EPS.

Note 42 - Additional Information as required by Paragraph 2 of t he General Instructions for Preparation of Consolidated Financial Statements to

Schedule Ill to the Companies Act, 2013

Name of the Entity

Parent


Subsidiaries

Punarvasu Holding & Trading Company Private Limited

No. of shares as

at Net Assets i.e Total Assets - Total

Share in Profit and loss liabilities

As%of As%of

Consolidated Amount {Rs.) Consolidated Amount (Rs.)

Net Assets Profit

101.16% 1,07,70,48,025 98.35% (39,36,59,647)

-1.16% (1,23,88,750.52) 1.65% (66,23,778)

NOTE '43' Previous year's figures have been regrouped /reclassified wherever necessary to correspond with the current year's classification I disclosure.

In terms of our report attached For Deloitte Haskins & Sells

Chartered Accountants

Sunil S. Kothari

Partner

Mumbai: May 27,2016

"~=~·" {Dr. Prakash Bakshi) Managing Director

DIN:- 02628945

(Vishesh Singhvi)

Chief Financial Officer -

Director

DIN:- 00269810

~~~~ (Puneet Bhandari)

Company Secretary

Mumbai: May 27,2016

Documents

Deloitte Chartered Accountants Haskins Sells Ahmedabad ...€¦ · Drive In Road, Nr. Udgam School, Thaltej, Ahmedabad-380 054 Ph.: (0) 079-26856795, (M) 9722359139 This is to certify