XBRL Financial Statements Duly Authenticated As Per Section 134 (Including Board

NILONS ENTERPRISES PRIVATE LIMITED
Standalone Financial Statements for period 01/04/2017 to 31/03/2018
[400100] Disclosure of general information about company

Unless otherwise specified, all monetary values are in INR
01/04/2017 01/04/2016
to to
31/03/2018 31/03/2017
Corporate identity number U74999PN1977PTC139541
Permanent account number of entity AABCN8601N
BANER BIZ BAY, 6TH FLOOR
OPPOSITE SYNGENTA , BANER
Address of registered office of company ROAD , Baner Pune Pune ,
MAHARASHTRA , INDIA -
411045
Commercial and
Type of industry Industrial
Date of board meeting when final accounts were approved 28/09/2018
Period covered by financial statements 12 MONTHS 12 MONTHS
Date of start of reporting period 01/04/2017 01/04/2016
Date of end of reporting period 31/03/2018 31/03/2017
Nature of report standalone consolidated Standalone
Content of report Financial Statements
Description of presentation currency INR
Level of rounding used in financial statements Actual
Type of cash flow statement Indirect Method
Link Intime India Private
Name of registrar and transfer agent Limited
C-13, Pannalal Silk Mill
Compound, LBS Marg,
Address and contact details of registrar and transfer agent Bhandup West, Mumbai -
400078
Whether company is maintaining books of account and other
Yes
relevant books and papers in electronic form
Baner Biz Bay,
6th Floor,
Complete postal address of place of maintenance of computer
Opposite Syngenta, Baner
servers (storing accounting data) Road, Baner, Pune –
411045.
Name of city of place of maintenance of computer servers (storing
Pune
accounting data)
Name of state/ union territory of place of maintenance of
computer servers (storing accounting data) Maharashtra
Pin code of place of maintenance of computer servers (storing
411045
accounting data)
Name of district of place of maintenance of computer servers Balewadi Phata
(storing accounting data) Pune
ISO country code of place of maintenance of computer servers
IND
(storing accounting data)
Name of country of place of maintenance of computer servers
INDIA
(storing accounting data)
Phone (with STD/ ISD code) of place of maintenance of computer
servers (storing accounting data) 020-67180706
NILONS ENTERPRISES PRIVATE LIMITED Standalone Financial Statements for period 01/04/2017 to 31/03/2018
Disclosure of principal product or services [Table] ..(1)

Types of principal product or services [Axis] 1 2
01/04/2017 01/04/2017
to to
31/03/2018 31/03/2018
Disclosure of general information about company [Abstract]
Disclosure of principal product or services [Abstract]
Disclosure of principal product or services [LineItems]
Product or service category (ITC 4 digit) code 2001 2103
SAUCES AND
PREPARATIONS
THEREFOR,
VEG FRUTS NUTS
MIXED
& OTHR EDBL
CONDIMENTS
PRTS OF PLNTS
Description of product or service category PRPD/PRSVD BY
AND MIXED
SEASONINGS;
VINEGAR/ACETIC
MUSTARD FLOUR
ACID
AND MEAL AND
PREPARED
MUSTARD
Turnover of product or service category 139,46,84,016 27,66,82,852
Highest turnover contributing product or service (ITC 8 digit) code 20010000 21030000
Description of product or service PICKLE COOKING PASTE
Turnover of highest contributing product or service 95,44,86,733 27,66,82,852
[400400] Disclosures - Directors report
Details of directors signing board report [Table] ..(1)

Directors signing board report [Axis] 01 02
01/04/2017 01/04/2017
to to
31/03/2018 31/03/2018
Details of signatories of board report [Abstract]
Details of directors signing board report [LineItems]
Name of director signing board report [Abstract]
First name of director Deepak Rajheev
Middle name of director Sureshchand Shankarlal
Last name of director Sanghavi Agrawal
Designation of director Managing Director Director
Director identification number of director 00274804 00284183
Date of signing board report 28/09/2018 28/09/2018
2
Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(1)

Material contracts/arrangements/transactions at arm's length basis
01 02 03 04
[Axis]
01/04/2017 01/04/2017 01/04/2017 01/04/2017
to to to to
31/03/2018 31/03/2018 31/03/2018 31/03/2018
Name of related party Deepak Sanghavi Rajheev Agrawal Ritu Sanghavi Minakshi Agrawal
Director or his Director or his Director or his Director or his
Nature of related party relationship relative relative relative relative
Details of material
contracts/arrangements/transactions at arm's
length basis [Abstract]
Details of material
contracts/arrangements/transactions at arm's
length basis [LineItems]
Name of related party Deepak Sanghavi Rajheev Agrawal Ritu Sanghavi Minakshi Agrawal
Director or his Director or his Director or his Director or his
Nature of related party relationship relative relative relative relative
Description of nature of material Rent, Remuneration, Rent, Remuneration, Rent, Remuneration, Rent, Remuneration,
contracts/arrangements/transactions with Loan from Director, Loan from Director, Loan from Director, Loan from Director,
related party Interest to Director Interest to Director Interest to Director Interest to Director
Duration of material
April 2017 – March April 2017 – March April 2017 – March April 2017 – March
contracts/arrangements/transactions with 2018 2018 2018 2018
related party
Dates of approval of material
contracts/arrangements/transactions with 26/04/2017 26/04/2017 26/04/2017 26/04/2017
related party by board
3

01/04/2017
to
31/03/2018
Textual information (1)
Disclosure in board of directors report explanatory [TextBlock] [See below]
Description of state of companies affair [See below]
The Company has not
transferred any amount
Disclosure relating to amounts if any which is proposed to carry to any
to the Reserves during the
reserves current Financial
Year.
Your Directors do not
recommend dividend for
Disclosures relating to amount recommended to be paid as dividend the period under
review.
Details regarding energy conservation [See below]
Details regarding technology absorption [See below]
Details regarding foreign exchange earnings and outgo [See below]
Disclosures in director’s responsibility statement [See below]
Details of material changes and commitment occurred during period Textual information (7)
affecting financial position of company [See below]
Particulars of loans guarantee investment under section 186 [TextBlock] [See below]
Particulars of contracts/arrangements with related parties under section Textual information (9)
188(1) [TextBlock] [See below]
Whether there are contracts/arrangements/transactions not at arm's
No
length basis
Whether there are material contracts/arrangements/transactions at
Yes
arm's length basis
Disclosure of extract of annual return as provided under section 92(3) Textual information (10)
[TextBlock] [See below]
The provisions
of Section 149 for
appointment of
Disclosure of statement on declaration given by independent directors
Independent Directors
under section 149(6) [TextBlock] do not apply to the
company.
Disclosure for companies covered under section 178(1) on

directors appointment and remuneration including other matters [See below]
provided under section 178(3) [TextBlock]
Disclosure of statement on development and implementation of risk Textual information (12)
management policy [TextBlock] [See below]
Details on policy development and implementation by company on
corporate social responsibility initiatives taken during year [See below]
[TextBlock]
Disclosure as per rule 8(5) of companies accounts rules 2014 [TextBlock]
Disclosure of financial summary or highlights [TextBlock] [See below]
Disclosure of change in nature of business [TextBlock] NA
There was no
change in directorship
Details of directors or key managerial personnels who were during the financial year
appointed or have resigned during year [TextBlock]
2017-18.
The Company has

Disclosure of companies which have become or ceased to be its no wholly owned
subsidiaries, joint ventures or associate companies during subsidiary
year [TextBlock] company.
Details relating to deposits covered under chapter v of companies act Textual information (15)
4
Your Company
has not accepted any
deposits within the
meaning of Section 73 of
Details of deposits which are not in compliance with requirements
the Companies Act, 2013
of chapter v of act [TextBlock] read with the Companies
(Acceptance of Deposits)
R u l e s ,
2 0 1 4 .
No significant
and material order were
been passed by the
Details of significant and material orders passed by regulators, courts,
regulators or courts or tribunals impacting going concern tribunals impacting the
status and company’s operations in future [TextBlock] going concern status and
Company’s operations in
f u t u r e .
Details regarding adequacy of internal financial controls with Textual information (16)
reference to financial statements [TextBlock] [See below]
Disclosure of contents of corporate social responsibility policy Textual information (17)
Disclosure of appointment and remuneration of managerial personnels Textual information (18)
Number of meetings of board [pure] 0
5
Disclosure in board of directors report explanatory [Text Block]
DIRECTORS REPORT
To the Members of Nilons Enterprises Private Limited,
The Directors of your Company present the 41st Annual Report on the business and operations of the Company and the
accounts for the Financial Year ended March 31, 2018.
1. FINANCIAL HIGHLIGHTS:
A summary of the financial performance of the Company for the financial year 2017-18 as compared to the previous financial
year is given below:
INR Lakhs
Particulars 2017-18 2016-17
Total Income 28,497.18 21,619.21
Total Expenditure 28,060.87 21,146.50
Profit before Tax 436.31 472.71
Exception Item 72.83 -
Provision for taxation 23.9 -
Profit after Tax 339.57 472.71
Add: Surplus brought forward from previous year -4,058.22 -4,530.92
Add: Addition on account of amalgamation -6,056.39 -
Profit available for appropriation -9,775.03 -4,058.22
Less Appropriations: - -
Proposed Dividend - -
Transfer to General Reserve - -
Surplus carried to Balance Sheet -9,775.03 -4,058.22
Earnings per share (Face value Rs. 1,000/- per shares
Basic (Rs.) 1,992.39 3,932.66
Diluted (Rs.) 1,006.33 - 1,378.29 3830.64 2939.06
6
2. FINANCIAL PERFORMANCE AND STATE OF AFFAIRS OF THE COMPANY:
During the year under review your company has achieved the consolidated turnover of Rs. 285 Crores. Financials for 2017-18
have been prepared on consolidated basis due to merger of Sanghavi Foods Pvt. Ltd. and Sanskar Recipes Pvt. Ltd. Finance
Cost was Rs. 10.15 Crores and Depreciation was Rs. 8.49 Cr. during the year.
The financial year 2017-18 embarked upon visible improvement in operating profit margins due to focused cost efficiency
measures and price discipline.
The Company has further strengthened its distribution network throughout the country, launched new products and expanded its
reach to more retail outlets during the year under review.
3. DIVIDEND ON EQUITY SHARES
Your Directors do not recommend dividend for the period under review.
4. TRANSFER TO RESERVES
The Company has not transferred any amount to the Reserves during the current Financial Year.
5. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCTION AND PROTECTION FUND
The provisions of Section 125(2) of the Companies Act, 2013 do not apply as there was no dividend declared and paid during
previous year.
6. SHARE CAPITAL
During the year under review, the share capital increased on account of merger of Sanghavi Foods Pvt. Ltd. and Sanskar
Recipes Pvt. Ltd. with effect from 01-April-2017. Following are the details of the increased Authorised Share Capital and Paid-up
Share Capital:
Sr. No. Particulars Amount
Pre-merger authorised share capital
[A] Sanghavi Foods Private Limited INR 4,50,00,000
45,000 equity shares of Rs 1,000/- each
[B] Sanskar Recipes Private Limited INR 4,25,00,000
425,000 equity shares of Rs 100/- each
[C] Nilons Enterprises Private Limited (Pre-Merger) INR 2,00,00,000
Total [A] + [B] + [C] INR 10,75,00,000
Post-merger authorised share capital
[D] Nilons Enterprises Private Limited (Post-Merger) INR 10,75,00,000
1,07,500 Equity Shares of INR 1,000 each
7
Sr. No. Particulars Amount
Pre-merger paid-up share capital
[A] Sanghavi Foods Private Limited INR 2,66,20,000
[B] Sanskar Recipes Private Limited INR 2,66,20,000
266,200 equity shares of Rs 100/- each
[C] Nilons Enterprises Private Limited (Pre-Merger) INR 1,20,20,000
Post-merger paid-up share capital
[D] Nilons Enterprises Private Limited (Post-Merger) INR 2,06,99,000
20,699 Equity Shares of INR 1,000 each
7. MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY
OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THIS FINANCIAL STATEMENTS RELATE AND
THE DATE OF THE REPORT
a. Approval of Merger Scheme by the Honble National Company Law Tribunal, Mumbai Bench.
Company submitted a petition along with Merger Scheme with National Company Law Tribunal, Mumbai Bench (NCLT) on
27-September-2018. The presiding Judges approved the scheme on July 24, 2018 making the same effective from the appointed
date of 01-April-2017. The certified copies of the order of the NCLT approving the Merger Scheme was received by the Company
on August 16, 2018. The financials for the year 2017-18 have been prepared on consolidated basis by consolidating the
financials of the transferor companies with the Company. The Company has completed the required compliances with respect to
e-filing of necessary forms.
b. Allotment of Equity Shares and Debentures.
Company allotted equity shares and debentures respectively to all the eligible holders as per the approved merger scheme at the
meeting of Board of Directors held on 17-September-2018.
8. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO
Information required under Section 134(m) of the Companies Act, 2013, with respect to conservation of energy, technology
absorption and foreign exchange earnings/outgo are as under:
Conservation of energy
As such products of the company are not energy intensive; however the conservation of energy continues to be one of the
important objectives of the company. Regular plant maintenance, review of energy consumption are some of the measures
adopted in this regard. The detail as required under Form A is enclosed as Annexure A to this report.
Technology Absorption, Adaptation and Innovation:
The products of the company do not need any special technology since the Pickles and other products produced are generally
8
home made within the country and is fully indigenous. The company had established a laboratory for Research and Development
facilities for quality control and improvement in product mix based on feedback from the market. The technology adopted by the
company is indigenous and fully absorbed.
The expenditure incurred on Research & Development are charged under primary accounts head and not allocated separately.
The detail as required under Form A is enclosed as Annexure A to this report.
Foreign exchange earnings and outgo
The details of foreign exchange earnings and outgo are as per Annexure A to this report.
9. STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OF THE

COMPANY
Business risks are identified based on incident analysis and the environment in which the Company operates and the focus on
Risk Management continues to be high. The periodic achievement of business risk environment is carried out to identify
significant risks to the achievement of objectives of the Company. Key risks are reported and evaluated at appropriate forums
and levels within the Company. Management of the Company is responsible to carry out status of the risk assessment and
management of the risks. Management obtains periodical updates on identifying risks, depending upon the nature, quantum and
likely impact on the business.
Based on the above parameters, the Company is formally identifying the risks and is in the process of formulating the Risk
Management Policy as applicable to the overall economic, social, financial and regulatory environment affecting the Company.
10. DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIAL
RESPONSIBILITY INITIATIVES
The provisions of Sec. 135 with respect to Corporate Social Responsibility were not applicable to the Company. The Company is
further analysing the applicability of the provisions during the current year 2018-19.
11. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIES
ACT, 2013
Loans, guarantees and investments covered under Section 186 of the Companies Act, 2013 form part of the notes to the
financial statements provided with this report.
12. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES
The Particulars of every contracts or arrangements entered into by the Company with related parties referred to in sub section (1)
of section 188 of the Companies Act, 2013 are disclosed in Form AOC 2 in Annexure B and forms part of this Report.
13. EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR DISCLAIMERS

MADE BY THE AUDITORS AND THE PRACTICING COMPANY SECRETARY IN THEIR REPORTS
There are no qualifications, reservations or adverse remarks by the Auditors.
14. COMPANYS POLICY RELATING TO DIRECTORS APPOINTMENT, PAYMENT OF REMUNERATION AND DISCHARGE
OF THEIR DUTIES
The provisions of Section 178(1) relating to constitution of Nomination and Remuneration Committee are not applicable to the
Company. Remuneration to executive directors are approved by the Board of Directors of your Company.
15. ANNUAL RETURN
The extracts of Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the Companies (Management and
Administration) Rules, 2014 is furnished in Annexure C and is attached to this Report.
16. DIRECTORS
9
There was no change in directorship during the financial year 2017-18.
17. DIRECTORS RESPONSIBILITY STATEMENT
In accordance with the provisions of Section 134(5) of the Companies Act, 2013 the Board hereby submits its responsibility
Statement:
a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper
explanation relating to material departures;
b) the directors had selected such accounting policies and applied them consistently and made judgments and estimates that
are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year
and of the profit and loss of the company for that period;
c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with
the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other
irregularities;
d) the directors had prepared the annual accounts on a going concern basis;
e) the Company being unlisted, sub clause (e) of section 134(3) of the Companies Act, 2013 pertaining to laying down internal
financial controls have been provided in the directors report elsewhere; and
f) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such
systems were adequate and operating effectively.
18. NUMBER OF BOARD MEETINGS CONDUCTED DURING THE YEAR UNDER REVIEW
During the year, the Board of Directors met 9 times. The dates of meetings are April 11, 2017, April 26, 2017, May 3, 2017, June
28, 2017, August 04, 2017, September 27, 2017, November 02, 2017 November 28, 2017 and March 26, 2018 and intervening
gap between any two board meetings was within the period prescribed under the Companies Act, 2013.
19. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES
The Company has no wholly owned subsidiary company.
20. DEPOSITS
Your Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013 read with the
Companies (Acceptance of Deposits) Rules, 2014.
21. DECLARATION OF INDEPENDENT DIRECTORS
The provisions of Section 149 for appointment of Independent Directors do not apply to the company.
22. ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS
Management represents that considering the complexities involved, nature and size of the business, the Company is in the
process of further strengthening and establishing its internal financial control over financial reporting considering the essential
components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting
issued by the Institute of Chartered Accountants of India. The Company has engaged a third party to facilitate the establishment
of Internal Financial Controls and the recommendations are under testing and implementation.
23. STATUTORY AUDITORS
At the Annual General Meeting held on October 30, 2014, B S R & Co., LLP Chartered Accountants, were appointed as statutory
auditors of the Company to hold office till the conclusion of the Annual General Meeting to be held in the Calendar Year 2019. In
terms of the first proviso to Section 139 of the Companies Act, 2013 the appointment of auditors shall be placed for ratification at
every Annual General Meeting. Accordingly, the appointment of B S R & Co., LLP Chartered Accountants, as statutory auditors
10
of the Company, is placed for ratification by the shareholders. In this regard the Company has received a certificate from the
auditors to the effect that if they are reappointed, it would be in accordance with the provisions of Section 141 of the Companies
Act, 2013.
24. DISCLOSURE OF COMPOSITION OF AUDIT COMMITTEE AND PROVIDING VIGIL MECHANISM
The provisions of Section 177 of the Companies Act, 2013 read with Rule 6 and 7 of the Companies (Meetings of the Board and
its Powers) Rules, 2013 is applicable to the Company in respect of Vigil Mechanism and Company nominated Mr. Rajheev
Agrawal, Director and Chief Executive Officer of the Company for the purpose of Vigil Mechanism.
25. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, COURTS AND TRIBUNALS
No significant and material order were been passed by the regulators, courts, tribunals impacting the going concern status and
Companys operations in future.
26. APPRECIATION
The Directors take this opportunity to express their sincere thanks and gratitude to the Bankers, Financial Institutions and other
agencies for their assistance and co-operation received and extended during the year.
Services rendered by the companys consignee sales agents, dealers and trade need special mention and appreciation.
The Directors are also pleased to place on record their appreciation for the dedicated services rendered by the executives and
staff of the company.
The industrial relations during the year were highly cordial and support worthy.
By order of the Board
For NILONS ENTERPRISES PVT. LTD.
DEEPAK SANGHAVI RAJHEEV AGRAWAL
MANAGING DIRECTOR DIRECTOR & CEO
Date: 28.09.2018
Place: Pune
ANNEXURE A TO DIRECTORS REPORT
FORM A
Disclosure pursuant to Section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules,
2014
11
Disclosure of particulars with respect to Conservation of Energy and Technology Absorption
(A) ENERGY CONSERVATION MEASURES TAKEN
i) Steps taken or impact on conservation of energy and the steps taken by the company for utilizing alternate sources of
energy;
Company has taken several steps to conserve energy through its Sustainability initiatives. The Company continues its endeavour
to improve energy conservation and utilization. The Company has always been conscious of the need for conservation of energy
and has been sensitive in making progress towards this end. Energy conservation measures have been implemented at all the
plants of the Company and special efforts are being put on undertaking specific energy conservation projects like
1. Lighting:
Efforts have been put by Company to reduce or optimize the lighting requirements at all the plants. Some of the initiatives are
enumerated as under:
a. Solar based day light system at plant. This has resulted in reduction of lighting load during day time.
b. Lighting load optimization of lighting circuits.
c. Replacement of Conventional Light fittings with LED light fixtures, leading to savings in power at office areas.
d. Installation of CFL, LED indicators.
2. Installation of CFL, LED indicators.
a. Installation of Auto compound loaders.
b. Installation of compressed air saving guns for cleaning applications.
c. Conventional cooling towers are being replaced with fan-less cooling towers to eliminate the high power-load due to
operation of the fans in cooling towers.
d. Installation of precision temperature controlling equipments.
(B) TECHNOLOGY ABSORPTION
i) The efforts made towards technology absorption:
The Company is putting continuous efforts in acquisition, development, assimilation and utilization of technological knowledge
through its wide product portfolio. This has enabled the Company to keep abreast with the latest developments in product
development, manufacturing process and methods, quality assurance and improvement, marketing, management systems and
benefit out of mutual experience.
The Company has a full-fledged R&D division continuously engaged in research on new products and process improvement on
existing products as part of continuous improvement. As a part of technology absorption and adoption, once technology is
developed for a product, it is tested in a Pilot Lot and thereafter commercial production is performed. Innovation is embarked on
by an incremental approach towards cost, time, quality and complex product development by adopting technology and our
philosophy is to continuously upgrade the technology.
R&D has been expanding its areas of validation in order to keep up with the rapidly changing food segments across the country.
ii) The benefits derived like product improvement, cost reduction, product development or import substitution:
Increased Customer satisfaction & sale ability.
Improved Brand equity.
Cost Reduction through Quality & productivity.
12
New product introduction.
iii) In case of imported technology (imported during the last three years reckoned from the beginning of the financial year):
The Company does not have any imported technology.
FOREIGN EXCHANGE EARNINGS AND OUTGO:
Rs. in Lakhs
S. No. Particulars 2017-18 2016-17
1 Earnings
Export of goods on FOB 928.7 162.88
Outgo
a)CIF value of imports 44.31 3.85
b)Expenditure in Foreign currency 0 0
ANNEXURE B TO DIRECTORS REPORT
FORM NO. AOC 2
(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014.
Form for Disclosure of particulars of contracts/arrangements entered into by the company with related parties referred to in sub
section (1) of section 188 of the Companies Act, 2013 including certain arms length transaction under third proviso thereto.
1. Details of contracts or arrangements or transactions not at Arms length basis. Not Applicable.
2. Details of contracts or arrangements or transactions at Arms length basis.
SL.
Particulars Details
No.
a) Name (s) of the related party & nature of relationship 1. Deepak Sanghavi Managing Director
2. Rajheev Agrawal Director & CEO
3. Ritu Sanghavi - Wife of Deepak Sanghavi
Minakshi Agrawal - Wife of Rajheev Agrawal
Rent, Remuneration, Loan from Director,

b) Nature of contracts/arrangements/transaction
Interest to Director
c) Duration of the contracts/arrangements/transaction April 2017 March 2018
13
Salient terms of the contracts or arrangements or transaction INR

d) Particulars
including the value, if any Lacs
1. Rent 46.92
2. Remuneration 232.92
3. Loan from Director 95
4. Interest to Director 10.16
26-04-2017 (except Managerial

e) Date of approval by the Board
Remuneration)
f) Amount paid as advances, if any --
DEEPAK SANGHAVI RAJHEEV AGRAWAL Date: 28.09.2018
MANAGING DIRECTOR DIRECTOR & CEO Place: Pune
Annexure C
FORM NO. MGT 9
EXTRACT OF ANNUAL RETURN
as on financial year ended on 31.03.2017
Pursuant to Section 92 (3) of the Companies Act, 2013 and rule 12(1) of the Company (Management & Administration) Rules,
2014.
I REGISTRATION & OTHER DETAILS:
i CIN U74999PN1977PTC139541
ii Registration Date 07-01-77
iii Name of the Company Nilons Enterprises Private Limited
iv Category/Sub-category of the Company Limited by Shares
Baner Biz Bay, 6th Floor, Opposite Syngenta, Baner Road,

v Address of the Registered office & contact details
Baner, Pune-411045
vi Whether listed company Not Listed
Name, Address & contact details of the Registrar & Transfer

vii Link Intime India Private Limited
Agent, if any.
14
247 Park, C-101, L.B.S. Marg, Vikhroli, (West), Mumbai - 400083
II PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY
All the business activities contributing 10% or more of the total turnover of the company shall be stated
Sl. No Name & Description of main products/services NIC Code of the Product /service % to total turnover of the company
1 PICKLES 10306 33.65
2 COOKING PASTE 10740 12.57
3 CANDIED FRUIT 10736 15.52
PARTICULARS OF HOLDING , SUBSIDIARY &

III
ASSOCIATE COMPANIES
% OF
Sl. HOLDING/ SUBSIDIARY/ APPLICABLE
Name & Address of the Company CIN/GLN SHARES
No. ASSOCIATE SECTION
HELD
1 NO SUBSIDIARY
SHAREHOLDING
PATTERN (Equity Share
IV
capital Break up as % to
total Equity)
No. of
%
No. of Shares Shares
change
Category of held at the held at
during
Shareholders beginning of the end
the
the year of the
year
year
% of % of
Demat Physical Total Total Demat Physical Total Total No. %
Shares Shares
A. Promoters
(1) Indian
a)
8457 0 8457 40.86 8457 0 8457 40.86 0 0
Individual/HUF
b) Central Govt.
15
or
State Govt.
c) Bodies
Corporates
d) Bank/FI
e) Any other
SUB TOTAL:(A)
8457 0 8457 40.86 8457 0 8457 40.86 0 0
(1)
(2) Foreign
a) NRI-
Individuals
b) Other
Individuals
c) Bodies Corp.
d) Banks/FI
e) Any other
SUB TOTAL (A)

0 0 0 0 0 0 0 0 0 0
(2)
Total
Shareholding of
8457 0 8457 40.86 8457 0 8457 40.86 0 0
Promoter (A)=
(A)(1)+(A)(2)
B. PUBLIC SHAREHOLDING
(1) Institutions
a) Mutual Funds
b) Banks/FI
C) Cenntral govt
d) State Govt.
e) Venture Capital Fund
16
f) Insurance Companies
g) FIIS
h) Foreign Venture
i) Others (specify)
SUB TOTAL (B)(1): 0 0 0 0 0 0 0 0 00
(2) Non Institutions
a) Bodies corporate
i) Indian 0 4262 4262 20.59 0 4262 4262 20.59 0 0
ii) Overseas 7448 532 7980 38.55 7448 532 7980 38.55 0 0
b) Individuals
i) Individual shareholders holding nominal share capital upto Rs.1 lakhs
ii) Individuals shareholders holding nominal share capital in excess of Rs.

1 lakhs
c) Others (specify)
SUB TOTAL (B)(2): 7448 4794 12242 59.14 7448 4794 12242 59.14 0 0
Total Public Shareholding 7448 4794 12242 59.14 7448 4794 12242 59.14 0 0
C. Shares held by Custodian for 0 0 0 0 0 0 0 0 00
Grand Total (A+B+C) 15905 4794 20699 100 5347 6673 12020 100 00
FA(ii) SHAREHOLDING OF PROMOTERS
Shareholding
Shareholding % change in
Sl. Shareholders
17
No. Name at the at the end of share holding

beginning of the year during the year
the year
% of total % of shares % of total % of shares

shares of pledged shares of pledged
NO of shares NO of shares
the encumbered to the encumbered to
company total shares company total shares
Mr. Deepak
1 3367 16.27 0 3367 16.27 0 0
Sanghavi
Mrs.
2 Shakuntala 3571 17.25 0 3571 17.25 0 0
Sanghavi
Mrs. Ritu
3 825 3.98 825 3.98
Sanghavi
Mr. Rajheev
4 694 3.35 0 694 3.35 0 0
Agrawal
Total 8457 40.85 0 8457 40.85 0 0
(iii) CHANGE IN PROMOTERS' SHAREHOLDING ( SPECIFY IF THERE IS NO CHANGE)
Sl. Share holding at the Cumulative Share holding

No. beginning of the Year during the year
% of total shares of % of total shares of

No. of Shares No of shares
the company the company
At the beginning
8457 40.85 8457 40.85
of the year
NO CHANGE - - - -
At the end of the

8457 40.85 8457 40.85
year
(iv) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters & Holders of GDRs & ADRs)
A) TREWELLARD LTD.
Shareholding Cumulative
Sl.
at the end of Shareholding
No
the year during the year
% of total % of total
For Each of the Top 10 Shareholders No. of shares shares of No of shares shares of
18
At the beginning of the year 2760 13.33 2760 13.33
Date wise increase/decrease in Promoters Share holding during

the year specifying the reasons for increase/decrease (e.g. NO CHANGE
allotment/transfer/bonus/sweat equity etc)
At the end of the year (or on the date of separation, if separated

2760 13.33 2760 13.33
during the year)
B) KIRIT PATHAK (PREPRESENTING DEEPAK & CO.)
Sl.
No
At the beginning of the year 3,600 17.39 3,600 17.39


3,600 17.39 3,600 17.39
during the year)
C) LESMA LIMITED
Sl.
No


3,232 15.61 3,232 15.61
during the year)
(v) Shareholding of Directors & KMP
Sl.
No
19
For Each of the Directors & KMP No. of shares shares of No of shares shares of
the the
company company
1 DEEPAK SANGHAVI

allotment/transfer/bonus/ sweat equity etc)
At the end of the year 3,367 16.27 3,367 16.27
(v) Shareholding of Directors & KMP
Sl.
No
For Each of the Directors & KMP No. of shares shares of No of shares shares of
2 RAJHEEV AGRAWAL
At the beginning of the year 694 3.35 694 3.35

At the end of the year 694 3.35 694 3.35
Secured Loans excluding Unsecured Total

Deposits
deposits Loans Indebtedness
Indebtness at the beginning of the financial

year
i) Principal Amount 580,583,472 534,957,144 1,170,635,065

-
ii) Interest due but not paid 2,544,369 12,241,521 6,976,295

-
20
iii) Interest accrued but not due 12,93,086 6,746 -- --
Total (i+ii+iii) 584,305,436 547,205,411 1,178,904,446

-
Change in Indebtedness during the financial

year
Additions 304,940,953 451,963,619 756,904,572

-
Reduction 252,350,000 - 252,350,000

-
Net Change 52,590,953 451,963,619 504,554,572

-
Indebtedness at the end of the financial year
i) Principal Amount 635,210,709 999,150,000 1,634,360,709

-
ii) Interest due but not paid - - --

-
iii) Interest accrued but not due 1,685,680 19,030 1,704,710

-
Total (i+ii+iii) 636,896,389 999,169,030 1,636,065,419
VI REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL
A-I Remuneration to Managing Director, Whole time director and/or Manager:
Sl. Name of the Total

Particulars of Remuneration
No MD/WTD/Manager Amount
DEEPAK SANGHAVI, RAJHEEV AGRAWAL,

1 Gross salary
MANAGING DIRECTOR DIRECTOR & CEO
(a) Salary as per provisions contained in section

6,192,000 1,71,00,000 23,292,000
17(1) of the Income Tax. 1961.
(b) Value of perquisites u/s 17(2) of the Income tax

0 0 0
Act, 1961
(c ) Profits in lieu of salary under section 17(3) of
21
the Income Tax Act, 1961 0 0 0
2 Stock option 0 0 0
3 Sweat Equity 0 0 0
4 Commission 0 0 0
as % of profit 0 0 0
others (specify) 0 0 0
5 Others, please specify 0 0 0
Total (A) 6,192,000 1,71,00,000 23,292,000
Ceiling as per the Act NA NA NA
B. Remuneration to other directors:
Sl. Name of the Total

No Directors Amount
RANVEER SANJIV
1 Independent Directors KIRIT PATHAK
SHARMA SINGHAL
(a) Fee for attending board committee

-- -- -- --
meetings
(b) Commission -- -- -- --
(c ) Others, please specify -- -- -- --
Total (1)
2 Other Non Executive Directors -- -- -- --
(a) Fee for attending -- -- -- --
board committee meetings
(b) Commission -- -- -- --
(c ) Others, please specify. -- -- -- --
Total (2) -- -- -- --
Total (B)=(1+2) -- -- -- --
Total Managerial Remuneration -- -- -- --
Overall Cieling as per the Act. -- -- -- --
22
C. Remuneration to key managerial personnel other than MD/MANAGER/WTD
Sl. Key Managerial

No. Personnel
1 Gross Salary Company CFO Total
Secretary
Akhilesh Soni Anil Jain
(a) Salary as per provisions contained in section 17(1) of the Income Tax
10,92,960 34,72,920 45,65,880
Act, 1961.
(b) Value of perquisites u/s 17(2) of the Income Tax Act, 1961 -- -- --
(c ) Profits in lieu of salary under section 17(3) of the Income Tax Act, 1961 -- -- --
2 Stock Option -- -- --
3 Sweat Equity -- -- --
4 Commission -- -- --
as % of profit -- -- --
others, specify -- -- --
5 Others, please specify -- -- --
Total 10,92,960 34,72,920 45,65,880
VII PENALTIES/PUNISHMENT/COMPPOUNDING OF OFFENCES
Authority
Section of the Brief Details of Penalty/Punishment/ Appeal made if any
Type (RD/NCLT/
Companies Act Description Compounding fees imposed (give details)
Court)
A. COMPANY
Penalty NA
Punishment NA
B. DIRECTORS
Penalty NA
Punishment NA
Compounding NA
23
C. OTHER
OFFICERS IN
DEFAULT
Penalty NA
Punishment NA
Compounding NA
Description of state of companies affair

During the year under review your company has achieved the consolidated turnover of Rs. 285 Crores. Financials for 2017-18 have been prepared
on consolidated basis due to merger of Sanghavi Foods Pvt. Ltd. and Sanskar Recipes Pvt. Ltd. Finance Cost was Rs. 10.15 Crores and
Depreciation was Rs. 8.49 Cr. during the year. The financial year 2017-18 embarked upon visible improvement in operating profit margins due to
focused cost efficiency measures and price discipline. The Company has further strengthened its distribution network throughout the country,
launched new products and expanded its reach to more retail outlets during the year under review.
Details regarding energy conservation

As such products of the company are not energy intensive; however the conservation of energy continues to be one of the important objectives of
the company. Regular plant maintenance, review of energy consumption are some of the measures adopted in this regard. The detail as required
under Form A is enclosed as Annexure “A” to this report.
Details regarding technology absorption

The products of the company do not need any special technology since the Pickles and other products produced are generally home made within
the country and is fully indigenous. The company had established a laboratory for Research and Development facilities for quality control and
improvement in product mix based on feedback from the market. The technology adopted by the company is indigenous and fully absorbed. The
expenditure incurred on Research & Development are charged under primary accounts head and not allocated separately. The detail as required
Details regarding foreign exchange earnings and outgo

The products of the company do not need any special technology since the Pickles and other products produced are generally home made within
the country and is fully indigenous. The company had established a laboratory for Research and Development facilities for quality control and
improvement in product mix based on feedback from the market. The technology adopted by the company is indigenous and fully absorbed. The
expenditure incurred on Research & Development are charged under primary accounts head and not allocated separately. The detail as required
24
Disclosures in director’s responsibility statement

In accordance with the provisions of Section 134(5) of the Companies Act, 2013 the Board hereby submits its responsibility Statement: a) in the
preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material
departures; b) the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are
reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and
loss of the company for that period; c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in
accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other
irregularities; d) the directors had prepared the annual accounts on a going concern basis; e) the Company being unlisted, sub clause (e) of
section 134(3) of the Companies Act, 2013 pertaining to laying down internal financial controls have been provided in the directors report
elsewhere; and f) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such
systems were adequate and operating effectively.
Details of material changes and commitment occurred during period affecting financial position of company
a. Approval of Merger Scheme by the Hon’ble National Company Law Tribunal, Mumbai Bench. Company submitted a petition along with
Merger Scheme with National Company Law Tribunal, Mumbai Bench (NCLT) on 27-September-2018. The presiding Judges approved the
scheme on July 24, 2018 making the same effective from the appointed date of 01-April-2017. The certified copies of the order of the NCLT
approving the Merger Scheme was received by the Company on August 16, 2018. The financials for the year 2017-18 have been prepared on
consolidated basis by consolidating the financials of the transferor companies with the Company. The Company has completed the required
compliances with respect to e-filing of necessary forms. b. Allotment of Equity Shares and Debentures. Company allotted equity shares and
debentures respectively to all the eligible holders as per the approved merger scheme at the meeting of Board of Directors held on
17-September-2018.
Particulars of loans guarantee investment under section 186 [Text Block]

Loans, guarantees and investments covered under Section 186 of the Companies Act, 2013 form part of the notes to the financial statements
provided with this report.
Particulars of contracts/arrangements with related parties under section 188(1) [Text Block]
The Particulars of every contracts or arrangements entered into by the Company with related parties referred to in sub section (1) of section 188 of
the Companies Act, 2013 are disclosed in Form AOC – 2 in Annexure B and forms part of this Report.
Disclosure of extract of annual return as provided under section 92(3) [Text Block]
The extracts of Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the Companies (Management and Administration)
Rules, 2014 is furnished in Annexure C and is attached to this Report.
25
Disclosure for companies covered under section 178(1) on directors appointment and remuneration including other
matters provided under section 178(3) [Text Block]
The provisions of Section 178(1) relating to constitution of Nomination and Remuneration Committee are not applicable to the Company.
Remuneration to executive directors are approved by the Board of Directors of your Company.
Disclosure of statement on development and implementation of risk management policy [Text Block]
Business risks are identified based on incident analysis and the environment in which the Company operates and the focus on
Risk Management continues to be high. The periodic achievement of business risk environment is carried out to identify
significant risks to the achievement of objectives of the Company. Key risks are reported and evaluated at appropriate forums
and levels within the Company. Management of the Company is responsible to carry out status of the risk assessment and
management of the risks. Management obtains periodical updates on identifying risks, depending upon the nature, quantum and
likely impact on the business.
Based on the above parameters, the Company is formally identifying the risks and is in the process of formulating the Risk
Management Policy as applicable to the overall economic, social, financial and regulatory environment affecting the Company.
Details on policy development and implementation by company on corporate social responsibility initiatives taken
during year [Text Block]
The provisions of Sec. 135 with respect to Corporate Social Responsibility were not applicable to the Company. The Company is further
analysing the applicability of the provisions during the current year 2018-19.
26
Disclosure of financial summary or highlights [Text Block]
A summary of the financial performance of the Company for the financial year 2017-18 as compared to the previous financial
year is given below:
INR Lakhs
Particulars 2017-18 2016-17
Total Income 28,497.18 21,619.21
Total Expenditure 28,060.87 21,146.50
Profit before Tax 436.31 472.71
Exception Item 72.83 -
Provision for taxation 23.9 -
Profit after Tax 339.57 472.71
Add: Surplus brought forward from previous year -4,058.22 -4,530.92
Add: Addition on account of amalgamation -6,056.39 -
Profit available for appropriation -9,775.03 -4,058.22
Less Appropriations: - -
Proposed Dividend - -
Transfer to General Reserve - -
Surplus carried to Balance Sheet -9,775.03 -4,058.22
Earnings per share (Face value Rs. 1,000/- per shares
Basic (Rs.) 1,992.39 3,932.66
Diluted (Rs.) 1,006.33 - 1,378.29 3830.64 – 2939.06
27
Details relating to deposits covered under chapter v of companies act [Text Block]
Your Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013 read with the Companies
(Acceptance of Deposits) Rules, 2014.
Details regarding adequacy of internal financial controls with reference to financial statements [Text Block]
Management represents that considering the complexities involved, nature and size of the business, the Company is in the process of further
strengthening and establishing its internal financial control over financial reporting considering the essential components of internal control stated
in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.
The Company has engaged a third party to facilitate the establishment of Internal Financial Controls and the recommendations are under testing
and implementation.
Disclosure of contents of corporate social responsibility policy [Text Block]

The provisions of Sec. 135 with respect to Corporate Social Responsibility were not applicable to the Company. The Company is further
analysing the applicability of the provisions during the current year 2018-19.
Disclosure of appointment and remuneration of managerial personnels [Text Block]

The provisions of Section 178(1) relating to constitution of Nomination and Remuneration Committee are not applicable to the Company.
Remuneration to executive directors are approved by the Board of Directors of your Company.
28
[400200] Disclosures - Auditors report
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Table] ..(1)
Auditor's Clause not
Auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Axis] favourable remark applicable
[Member] [Member]
01/04/2017 01/04/2017
to to
31/03/2018 31/03/2018
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in
auditors' report [Abstract]
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in
auditors' report [LineItems]
Textual information
Disclosure in auditors report relating to fixed assets (19) [See below]
The Company has
maintained proper
records showing full
Disclosure relating to quantitative details of fixed assets particulars, including
quantitative details
and situation of fixed
assets.
Disclosure relating to physical verification and material discrepancies of fixed Textual information
assets (20) [See below]
According to the
information and
explanations given
to us, the title deeds
Disclosure relating to title deeds of immovable properties of the immovable
properties are held in
the name of the
Company.
Textual information
Disclosure in auditors report relating to inventories (21) [See below]
Textual information
Disclosure in auditors report relating to loans (22) [See below]
Disclosure about loans granted to parties covered under section 189 of companies Textual information
act (23) [See below]
Textual information
Disclosure relating to terms and conditions of loans granted (24) [See below]
Disclosure in auditors report relating to compliance with Section 185 and 186 of Textual information
Companies Act, 2013 (25) [See below]
Textual information
Disclosure in auditors report relating to deposits accepted (26) [See below]
Textual information
Disclosure in auditors report relating to maintenance of cost records (27) [See below]
Textual information
Disclosure in auditors report relating to statutory dues [TextBlock] (28) [See below]
Textual information
Disclosure in auditors report relating to default in repayment of financial dues (29) [See below]
Disclosure in auditors report relating to public offer and term loans used for Textual information
purpose for which those were raised (30) [See below]
According to the
information and
explanations given
to us, no fraud by the
Disclosure in auditors report relating to fraud by the company or on the Company or on the
company by its officers or its employees reported during period Company by its
officers or
employees has been
noticed or reported
during the year.
The Company is a
‘private limited
company’.
Accordingly, the
Disclosure in auditors report relating to managerial remuneration reporting under
paragraph 3(xi) of
the Order is not
applicable.
29
Textual information
Disclosure in auditors report relating to Nidhi Company (31) [See below]
Textual information
Disclosure in auditors report relating to transactions with related parties (32) [See below]
Disclosure in auditors report relating to preferential allotment or private Textual information
placement of shares or convertible debentures (33) [See below]
According to the
information and
explanations given
to us, the Company
Disclosure in auditors report relating to non-cash transactions with directors has not entered into
or persons connected with him any non-cash
transactions with
directors or persons
connected with them
during the year.
In our opinion and
according to the
information and
explanations given
Disclosure in auditors report relating to registration under section 45-IA of to us, the Company
Reserve Bank of India Act, 1934 is not required to
register under
section 45-IA of the
Reserve Bank of
India Act, 1934.
Details regarding auditors [Table] ..(1)

Auditors [Axis] 1
01/04/2017
to
31/03/2018
Details regarding auditors [Abstract]
Details regarding auditors [LineItems]
Category of auditor Auditors firm
Name of audit firm B S R & Co. Llp
KHILNANI SANJIV
Name of auditor signing report KESHAVLAL
Firms registration number of audit firm 101248W/W-100022
Membership number of auditor 122613
Address of auditors B/3 Pancharatna
Permanent account number of auditor or auditor's firm AAAFB9852F
SRN of form ADT-1 S33415290
Date of signing audit report by auditors 28/09/2018
Date of signing of balance sheet by auditors 28/09/2018

01/04/2017
to
31/03/2018
Disclosure in auditor’s report explanatory [TextBlock] [See below]
Whether companies auditors report order is applicable on company Yes
Whether auditors' report has been qualified or has any reservations or
No
contains adverse remarks
Disclosure in auditors report relating to fixed assets

(a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) During
the year, physical verification of fixed assets has not been conducted by the management in accordance with the programme of physical
verification. The Company has regular programme of physical verification of its fixed assets by which all fixedassets are verified in a phased
manner over a period of three years. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the
Company and the nature of its assets. (c) According to the information and explanations given to us, the title deeds of the immovable properties
are held in the name of the Company.
30
Disclosure relating to physical verification and material discrepancies of fixed assets

During the year, physical verification of fixed assets has not been conducted by the management in accordance with the programme of physical
verification. The Company has regular programme of physical verification of its fixed assets by which all fixedassets are verified in a phased
manner over a period of three years. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the
Company and the nature of its assets.
Disclosure in auditors report relating to inventories

The inventory, except stock lying with third parties, has been physically verified by management during the year. The discrepancies noticed on
verification between the physical stock and the book records were material(gross shortages of Rs. 38,865,381 and gross excess 10,009,914)and
have been properly dealt with in the books of account. As explained to us by the management, these differences were mainly due to quality issues.
In our opinion, the frequency of such verification is reasonable and adequate in relation to the size of the Company and the nature of its business.
In respect of stock lying with third parties at the year end, written confirmations have been obtained by management from parties having major
stock.
Disclosure in auditors report relating to loans

The Company has not granted any loans, secured or unsecured to companies, firms, Limited Liability Partnerships or other parties covered in the
register maintained under section 189 of the Act. Accordingly, paragraph 3 (iii) of the Order is not applicable to the Company.
Disclosure about loans granted to parties covered under section 189 of companies act
According to the information and explanations provided to us, the Company has not given any loans, made any investments, or provided any
guarantees or security covered under section 185 and section 186 of the Act apply. Accordingly, paragraph 3 (iv) of the Order is not applicable to
the Company.
Disclosure relating to terms and conditions of loans granted

In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits in terms of directives
issued by the Reserve Bank of India and the provisions of Sections 73 to 76 of the Act and the rules framed there under. Accordingly, paragraph
3(v) of the Order is not applicable to the Company.
Disclosure in auditors report relating to compliance with Section 185 and 186 of Companies Act, 2013
According to the information and explanations provided to us, the Company has not given any loans, made any investments, or provided any
guarantees or security covered under section 185 and section 186 of the Act apply. Accordingly, paragraph 3 (iv) of the Order is not applicable to
the Company.
Disclosure in auditors report relating to deposits accepted

In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits in terms of directives
issued by the Reserve Bank of India and the provisions of Sections 73 to 76 of the Act and the rules framed there under. Accordingly, paragraph
3(v) of the Order is not applicable to the Company.
31
Disclosure in auditors report relating to maintenance of cost records

We have broadly reviewed the books of account maintained by the company pursuant to the Rules made by the Central Government for the
maintenance of cost records under section 148(1) of the Act, and are of the opinion that prima facie, the prescribed accounts and records have
been made and maintained. However, we have not made a detailed examination of the records with a view to determine whether they are accurate
or complete.
Disclosure in auditors report relating to statutory dues [Text Block]
According to the information and explanations given to us and on the basis of our examination of the records of the Company,
amounts deducted / accrued in the books of account in respect of undisputed statutory dues including Provident Fund,
Employees’ State Insurance, Income tax, Sales tax, Service tax, Goods and Service tax, Duty of Customs, Duty of Excise, Value
added tax and any other statutory dues have generally been regularly deposited during the year by the Company with the
appropriate authorities except for delays in payment of Employees’ State Insurance ranging between 3 to 20 days, Income tax
deducted at source ranging between 1 to 90 days, Service tax ranging between 39 to 211 days, Duty of Excise ranging between
143 to 201 days, Professional tax ranging between 6 to 190 days and Labour welfare fund ranging between 50 to 56 days.
According to the information and explanations given to us, no undisputed amounts payable in respect of Provident fund,
Employees’ State Insurance, Income tax, Sales tax, Service tax, Goods and Service tax, Duty of Customs, Duty of Excise, Value
added tax and other statutory dues were in arrears as at 31 March 2018 for a period of more than six months from the date they
became payable.
(b)According to the information and explanations given to us there are no dues of Income tax, Sales tax, Service tax, Goods and
Service tax, Duty of Customs, Duty of Excise and Value added tax which have not been deposited by the Company on account
of disputes.
Disclosure in auditors report relating to default in repayment of financial dues

In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of dues to its banks,
financial institutions or debenture holders. The Company did not have any loan or borrowings from government outstanding during the year.
Disclosure in auditors report relating to public offer and term loans used for purpose for which those were raised
In our opinion and according to the information and explanations given to us, the term loans taken by the Company have been applied for the
purpose for which they were raised. The Company is a ‘private limited company’ and has not raised money by way of initial public offer or
further public offer (including debt instruments) during the year.
Disclosure in auditors report relating to Nidhi Company

In our opinion and according to the information and explanations given to us, the Company is not a Nidhi Company as per the Act. Accordingly,
the reporting under paragraph 3(xii) of the Order is not applicable.
32
Disclosure in auditors report relating to transactions with related parties

The Company is a ‘private limited company’ and accordingly, is not required to constitute an Audit Committee under Section 177 of the Act, and
accordingly, to this extent, paragraph 3 (xiii) of the Order is not applicable to the Company. Further, in our opinion and according to the
information and explanations given to us, all transactions with related parties are in compliance with Section 188 of the Act and the details, as
required by the applicable accounting standards have been disclosed in notes to the financial statements.
Disclosure in auditors report relating to preferential allotment or private placement of shares or convertible
debentures
The Company has made private placement of Compulsory Convertible debentures during the year under audit. The Company is in compliance
with the requirement of section 42 of the Act. The amounts raised has been used for the purpose for which funds were raised.
33
Disclosure in auditor’s report explanatory [Text Block]
To the Members of
Nilon’s Enterprises Private Limited
Report on the Financial Statements(prepared as per Accounting Standards)
We have audited the accompanying financial statements (prepared as per Accounting Standards) of Nilon’s Enterprises Private
Limited (“the Company”), which comprise the Balance Sheet as at 31 March 2018, 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 Financial Statements
The Company’s management and Board of Directors is responsible for the matters stated in Section 134(5) of the Companies
Act, 2013 (“the Act”) with respect to the preparation of these financial statements that give a true and fair view of the state of
affairs, profit/loss and cash flows of the Company in accordance with the accounting principles generally accepted in India,
including the Accounting Standards specified under Section 133 of the Act.
This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for
safeguarding of 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 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
true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is responsible for assessing the Company’s ability to continue as a going
concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless
management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Auditor’s Responsibility
Our responsibility is to express an opinion on these 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.
34
We conducted our audit of the financial statements 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 financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial
statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers
internal financial control relevant to the Company’s preparation of the financial 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 are also responsible to conclude on the appropriateness of management’s use of the going concern basis of accounting and,
based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast
significant doubt on the entity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are
required to draw attention in the auditors’ report to the related disclosures in the financial statements or, if such disclosures are
inadequate, to modify the opinion. Our conclusions are based on the audit evidence obtained up to the date of the auditors’
report. However, future events or conditions may cause an entity to cease to continue as a going concern.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the
financial statements.
Opinion
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid 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 31 March 2018, and its profit and its cash flows
for the year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor’s Report) Order, 2016 (“the Order”), issued by the Central Government of India in
terms of section 143 (11) of the Act, we give in “Annexure A” a statement on the matters specified in paragraphs 3 and 4 of the
Order.
2. 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.
35
c) The Balance 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 financial statements comply with the Accounting Standards specified under Section 133 of the
Act.
e) On the basis of the written representations received from the directors as on 31 March 2018 taken on record by the Board
of Directors, none of the directors is disqualified as on 31 March 2018 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 with reference to financial statements of the Company and
the operating effectiveness of such controls, refer to our separate Report in “Annexure B”.
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 Company has disclosed the impact of pending litigations on its financial position in its financial statements
– Refer Note 32to the financial statements;
ii. The Company did not have any long-term contracts 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 Company; and
iv. The disclosures in the financial statements regarding holdings as well as dealings in specified bank notes during
the period from 8 November 2016 to 30 December 2016 have not been made since they do not pertain to the financial year
ended 31 March 2018. However amounts as appearing in the audited financial statements for the year ended 31 March 2017
have been disclosed.
For B S R &Co. LLP
Chartered Accountants
ICAI Firm Registration No: 101248W/ W-100022
Place: Mumbai Sanjiv Khilnani
Date: 28September 2018 Partner
Membership No: 122613
36
Annexure A to the Independent Auditors’ Report – 31 March 2018
With reference to the Annexure referred to in paragraph 1 in Report on Other Legal and Regulatory Requirements of the
Independent Auditors’ Report to the members of the Company on the financial statements for the year ended 31 March
2018, we report that:
(a) The Company has maintained proper records showing full particulars, including quantitative details and situation of
(i)
fixed assets.
(b) During the year, physical verification of fixed assets has not been conducted by the management in accordance with
the programme of physical verification. The Company has regular programme of physical verification of its fixed assets by
which all fixed assets are verified in a phased manner over a period of three years. In our opinion, this periodicity of
physical verification is reasonable having regard to the size of the Company and the nature of its assets.
(c) According to the information and explanations given to us, the title deeds of the immovable properties are held in the
name of the Company.
The inventory, except stock lying with third parties, has been physically verified by management during the year. The
discrepancies noticed on verification between the physical stock and the book records were material (gross shortages of
Rs. 38,865,381 and gross excess 10,009,914)and have been properly dealt with in the books of account. As explained to
(ii) us by the management, these differences were mainly due to quality issues. In our opinion, the frequency of such
verification is reasonable and adequate in relation to the size of the Company and the nature of its business. In respect of
stock lying with third parties at the year end, written confirmation shave been obtained by management from parties
having major stock.
The Company has not granted any loans, secured or unsecured to companies, firms, Limited Liability Partnerships or
(iii) other parties covered in the register maintained under section 189 of the Act. Accordingly, paragraph 3 (iii) of the Order is
not applicable to the Company.
According to the information and explanations provided to us, the Company has not given any loans, made any
(iv) investments, or provided any guarantees or security covered under section 185 and section 186 of the Act apply.
Accordingly, paragraph 3 (iv) of the Order is not applicable to the Company.
In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits
(v) in terms of directives issued by the Reserve Bank of India and the provisions of Sections 73 to 76 of the Act and the rules
framed there under. Accordingly, paragraph 3(v) of the Order is not applicable to the Company.
We have broadly reviewed the books of account maintained by the company pursuant to the Rules made by the Central
Government for the maintenance of cost records under section 148(1) of the Act, and are of the opinion that prima facie,
(vi)
the prescribed accounts and records have been made and maintained. However, we have not made a detailed
examination of the records with a view to determine whether they are accurate or complete.
According to the information and explanations given to us and on the basis of our examination of the records of the
Company, amounts deducted / accrued in the books of account in respect of undisputed statutory dues including
Provident Fund, Employees’ State Insurance, Income tax, Sales tax, Service tax, Goods and Service tax, Duty of
Customs, Duty of Excise, Value added tax and any other statutory dues have generally been regularly deposited during
(vii)(a)
the year by the Company with the appropriate authorities except for delays in payment of Employees’ State Insurance
ranging between 3 to 20 days, Income tax deducted at source ranging between 1 to 90 days, Service tax ranging between
39 to 211 days, Duty of Excise ranging between 143 to 201 days, Professional tax ranging between 6 to 190 days and
Labour welfare fund ranging between 50 to 56 days.
According to the information and explanations given to us, no undisputed amounts payable in respect of Provident fund,
Employees’ State Insurance, Income tax, Sales tax, Service tax, Goods and Service tax, Duty of Customs, Duty of Excise,
Value added tax and other statutory dues were in arrears as at 31 March 2018 for a period of more than six months from
the date they became payable.
(b)According to the information and explanations given to us there are no dues of Income tax, Sales tax, Service tax,
Goods and Service tax, Duty of Customs, Duty of Excise and Value added tax which have not been deposited by the
Company on account of disputes.
In our opinion and according to the information and explanations given to us, the Company has not defaulted in
(viii) repayment of dues to its banks, financial institutions or debenture holders. The Company did not have any loan or
borrowings from government outstanding during the year.
37
(ix) In our opinion and according to the information and explanations given to us, the term loans taken by the Company have
been applied for the purpose for which they were raised. The Company is a ‘private limited company’ and has not raised
money by way of initial public offer or further public offer (including debt instruments) during the year.
According to the information and explanations given to us, no fraud by the Company or on the Company by its officers or
(x)
employees has been noticed or reported during the year.
The Company is a ‘private limited company’. Accordingly, the reporting under paragraph 3(xi) of the Order is not
(xi)
applicable.
In our opinion and according to the information and explanations given to us, the Company is not a Nidhi Company as per
(xii)
the Act. Accordingly, the reporting under paragraph 3(xii) of the Order is not applicable.
The Company is a ‘private limited company’ and accordingly, is not required to constitute an Audit Committee under
Section 177 of the Act, and accordingly, to this extent, paragraph 3 (xiii) of the Order is not applicable to the Company.
(xiii) Further, in our opinion and according to the information and explanations given to us, all transactions with related parties
are in compliance with Section 188 of the Act and the details, as required by the applicable accounting standards have
been disclosed in notes to the financial statements.
The Company has made private placement of Compulsory Convertible debentures during the year under audit. The
(xiv) Company is in compliance with the requirement of section 42 of the Act. The amounts raised has been used for the
purpose for which funds were raised.
According to the information and explanations given to us, the Company has not entered into any non-cash transactions
(xv)
with directors or persons connected with them during the year.
In our opinion and according to the information and explanations given to us, the Company is not required to register
(xvi)
under section 45-IA of the Reserve Bank of India Act, 1934.
For B S R &Co. LLP
Annexure B to the Independent Auditors’ Report of even date on the financial statements of Nilon’s Enterprises Private Limited
Referred to in paragraph 2(f) in Report on Other Legal and Regulatory Requirements of the Independent Auditors’ Report to the
Members of Nilon’s Enterprises Private Limited (“the Company”) on the financial statements for the year ended 31 March 2018.
Report on the Internal Financial Controls with reference to Financial Statements under Clause (i) of Sub-section 3 of Section 143
of the Act
We have audited the internal financial controls with reference to financial statements of the Company as of 31 March 2018 in
38
conjunction with our audit of the financial 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 financial controls based on the internal
control with reference to financial statement criteria established by the Company considering the essential components of internal
control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of
Chartered Accountants of India (the “Guidance Note”). 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 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.
Auditors’ Responsibility
Our responsibility is to express an opinion on the Company's internal financial controls with reference to financial statement
based on our audit conducted in accordance with the Guidance Note and the Standards on Auditing, to the extent applicable to
an audit of internal financial controls, both issued by the Institute of Chartered Accountants of India.
Because of the matter described in Disclaimer of Opinion paragraph below, we were not able to obtain sufficient appropriate
audit evidence to provide a basis for an audit opinion on internal financial controls system with reference to financial statement of
the Company.
Meaning of Internal Financial Controls with reference to Financial Statement
A company's internal financial controls with reference to financial statements is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles. A company's internal financial controls with reference to financial
statements includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail,
accurately 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.
Disclaimer of Opinion
According to the information and explanation given to us, the Company,post amalgamation is in the process of establishing
itsinternal financial control with reference to financial statements on criteria based on or considering the essential components of
internal control stated in the Guidance Note. Because of this reason, we are unable to obtain sufficient appropriate audit
evidence to provide a basis for our opinion whether the Company had adequate internal financial controls over financial reporting
and whether such internal financial controls were operating effectively as at31 March 2018.
We have considered the disclaimer reported above in determining the nature, timing, and extent of audit tests applied in our audit
of the financial statements of the Company, and the disclaimer does not affect our opinion on the financial statements of the
Company.
For B S R &Co. LLP
39
[400500] Disclosures - Secretarial audit report

01/04/2017
to
31/03/2018
Disclosure in secretarial audit report explanatory [TextBlock]
Whether secretarial audit report is applicable on company No
Whether secretarial audit report has been qualified or has any
No
observation or other remarks
40
[100100] Balance sheet

31/03/2018 31/03/2017
Balance sheet [Abstract]
Equity and liabilities [Abstract]
Shareholders' funds [Abstract]
Share capital 2,06,99,000 1,20,20,000
Reserves and surplus 33,60,66,638 10,23,52,831
Total shareholders' funds 35,67,65,638 11,43,72,831
Share application money pending allotment 0 0
Non-current liabilities [Abstract]
Long-term borrowings 106,10,58,313 69,65,65,000
Other long-term liabilities 0 0
Long-term provisions 2,01,78,328 1,05,88,214
Total non-current liabilities 108,12,36,641 70,71,53,214
Current liabilities [Abstract]
Short-term borrowings 55,34,02,396 37,15,42,661
Trade payables 27,88,58,533 17,13,03,258
Other current liabilities 10,83,83,955 17,05,55,292
Short-term provisions 59,28,836 23,91,903
Total current liabilities 94,65,73,720 71,57,93,114
Total equity and liabilities 238,45,75,999 153,73,19,159
Assets [Abstract]
Non-current assets [Abstract]
Fixed assets [Abstract]
Tangible assets 123,64,54,170 75,10,29,460
Intangible assets 95,06,667 1,15,47,157
Total fixed assets 124,59,60,837 76,25,76,617
Non-current investments 0 2,00,000
Long-term loans and advances 5,37,59,662 3,08,11,218
Other non-current assets 41,98,396 10,14,573
Total non-current assets 130,39,18,895 79,46,02,408
Current assets [Abstract]
Current investments 0 0
Inventories 72,28,56,327 48,42,11,600
Trade receivables 25,99,45,977 11,06,76,430
Cash and bank balances 3,94,34,703 2,02,28,605
Short-term loans and advances 4,86,12,282 10,06,07,073
Other current assets 98,07,815 2,69,93,043
Total current assets 108,06,57,104 74,27,16,751
Total assets 238,45,75,999 153,73,19,159
41
[400300] Disclosures - Signatories of financial statements
Details of directors signing financial statements [Table] ..(1)

Directors signing financial statements [Axis] 1 2
01/04/2017 01/04/2017
to to
31/03/2018 31/03/2018
Details of signatories of financial statements [Abstract]
Details of directors signing financial statements [Abstract]
Details of directors signing financial statements [LineItems]
Name of director signing financial statements [Abstract]
First name of director Deepak Rajheev
Middle name of director Sureshchand Shankarlal
Last name of director Sanghavi Agrawal
Designation of director Managing Director Director
Director identification number of director 00274804 00284183
Date of signing of financial statements by director 28/09/2018 28/09/2018

01/04/2017
to
31/03/2018
AKHILESH DWARKA
Name of company secretary PRASAD SONI
Permanent account number of company secretary AVGPS8790Q
Date of signing of financial statements by company secretary 28/09/2018
Name of chief financial officer Anil Jain
Date of signing of financial statements by chief financial officer 28/09/2018
42
[100400] Cash flow statement, indirect

01/04/2017 01/04/2016
to to 31/03/2016
31/03/2018 31/03/2017
Statement of cash flows [Abstract]
Whether cash flow statement is applicable on company Yes Yes
Cash flows from used in operating activities [Abstract]
Profit before extraordinary items and tax 3,63,47,817 4,72,70,546
Adjustments for reconcile profit (loss) [Abstract]
Adjustments to profit (loss) [Abstract]
Adjustments for finance costs 10,15,31,916 11,19,00,407
Adjustments for depreciation and amortisation expense 8,48,56,228 4,71,59,560
Other adjustments for which cash effects are investing or
financing cash flow (A) -23,50,509 (B) -1,07,998
Other adjustments to reconcile profit (loss) 72,83,000 0
Total adjustments to profit (loss) 19,13,20,635 15,89,51,969
Adjustments for working capital [Abstract]
Adjustments for decrease (increase) in inventories -12,79,07,325 9,13,00,073
Adjustments for decrease (increase) in trade receivables -3,66,18,624 -5,04,52,248
Adjustments for decrease (increase) in other current assets (C) 3,21,05,138 (D) -1,62,88,122
Adjustments for increase (decrease) in trade payables 4,74,45,416 -8,27,50,055
Adjustments for increase (decrease) in other current liabilities -5,82,53,304 -72,90,761
Adjustments for provisions (E) 1,95,67,294 (F) 15,16,138

Total adjustments for working capital -12,36,61,405 -6,39,64,975
Total adjustments for reconcile profit (loss) 6,76,59,230 9,49,86,994
Net cash flows from (used in) operations 10,40,07,047 14,22,57,540
Interest received -42,18,376 -1,75,76,234
Income taxes paid (refund) 11,942 7,84,378
Net cash flows from (used in) operating activities before extraordinary
9,97,76,729 12,38,96,928
items
Net cash flows from (used in) operating activities 9,97,76,729 12,38,96,928
Cash flows from used in investing activities [Abstract]
Proceeds from sales of tangible assets (G) 59,62,850 (H) 7,45,830
Purchase of tangible assets (I) 7,97,89,106 (J) 3,65,64,781
Interest received 25,71,835 3,71,978
Other inflows (outflows) of cash (K) -1,07,05,821 (L) -10,11,175

Net cash flows from (used in) investing activities before extraordinary
-8,19,60,242 -3,64,58,148
items
Net cash flows from (used in) investing activities -8,19,60,242 -3,64,58,148
Cash flows from used in financing activities [Abstract]
Proceeds from issuing debentures notes bonds etc (M) 20,51,39,500 (N) 20,48,15,000
Proceeds from borrowings (O) -11,43,72,506 (P) -22,29,63,880
Interest paid (Q) 10,71,04,244 (R) 10,28,84,512
Other inflows (outflows) of cash 0 3,26,15,410
Net cash flows from (used in) financing activities before extraordinary
-1,63,37,250 -8,84,17,982
items
Net cash flows from (used in) financing activities -1,63,37,250 -8,84,17,982
Net increase (decrease) in cash and cash equivalents before effect of
14,79,237 -9,79,202
exchange rate changes
Net increase (decrease) in cash and cash equivalents 14,79,237 -9,79,202
Cash and cash equivalents cash flow statement at end of period 92,28,769 10,51,535
(S) 20,30,737
43
Footnotes
(A) Profit on sale of assets : -2350509
(B) Profit on sale of assets : -107998
(C) Decrease / (Increase) in short term loans and advances : 32536178 Increase long term loans and advances : -431040
(D) Decrease / (Increase) in short term loans and advances : -15850070 Increase long term loans and advances : -438052
(E) Provision for doubtful debts and advances : 16122841 Provision for diminution in value of non current investment : 200000 Increase
in long term provisions : 4341253 Decrease in short term provisions : -1096800
(F) Provision for doubtful debts and advances : 3144705 Provision for diminution in value of non current investment : 0 Increase in long
term provisions : 3640172 Decrease in short term provisions : -5268739
(G) Proceeds from sale of fixed assets : 5962850
(H) Proceeds from sale of fixed assets : 745830
(I) Purchase in fixed assets (Tangible fixed assets, capital work in progress, intangible assets under development, capital advances and
capital creditors) : -79789106
(J) Purchase in fixed assets (Tangible fixed assets, capital work in progress, intangible assets under development, capital advances and
capital creditors) : -36564781
(K) Bank deposits matured (deposits due to mature after 12 months from reporting date (net) : 323043 Increase in Bank deposits (having
original maturity more than three months and remaining maturity less than twelve months) (net) : -11028864
(L) Bank deposits matured (deposits due to mature after 12 months from reporting date (net) : 4396125 Increase in Bank deposits (having
original maturity more than three months and remaining maturity less than twelve months) (net) : -5407300
(M) Proceeds from compulsorily convertible debentures : 205139500
(N) Proceeds from compulsorily convertible debentures : 204815000
(O) Movement in long term borrowings (net) : -229595291 Movement in short term borrowings (net) : 115222785
(P) Movement in long term borrowings (net) : -65139315 Movement in short term borrowings (net) : -157824565
(Q) Interest and borrowing cost paid : -107104244
(R) Interest and borrowing cost paid : -102884512
(S) Cash and cash equivalents at beginning of the year : 2030737 Cash balances acquired on account of amalgamation (refer note 45) : 0
44
[200100] Notes - Share capital
Disclosure of classes of share capital [Table] ..(1)

Classes of share capital [Axis] Share capital [Member] Equity shares [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Disclosure of classes of share capital [Abstract]
Disclosure of classes of share capital [LineItems]
Number of shares authorised [shares] 1,07,500 [shares] 20,000 [shares] 1,07,500 [shares] 20,000
Value of shares authorised 10,75,00,000 2,00,00,000 10,75,00,000 2,00,00,000
Number of shares issued [shares] 20,699 [shares] 12,020 [shares] 20,699 [shares] 12,020
Value of shares issued 2,06,99,000 1,20,20,000 2,06,99,000 1,20,20,000
Number of shares subscribed and fully paid [shares] 20,699 [shares] 12,020 [shares] 20,699 [shares] 12,020
Value of shares subscribed and fully paid 2,06,99,000 1,20,20,000 2,06,99,000 1,20,20,000
Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0 0 0
Total number of shares subscribed [shares] 20,699 [shares] 12,020 [shares] 20,699 [shares] 12,020
Total value of shares subscribed 2,06,99,000 1,20,20,000 2,06,99,000 1,20,20,000
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 20,699 [shares] 12,020 [shares] 20,699 [shares] 12,020
Value of shares called 2,06,99,000 1,20,20,000 2,06,99,000 1,20,20,000
Calls unpaid [Abstract]
Calls unpaid by directors and officers
[Abstract]
Calls unpaid by directors 0 0 0 0
Calls unpaid by officers 0 0 0 0
Total calls unpaid by directors and
0 0 0 0
officers
Calls unpaid by others 0 0 0 0
Total calls unpaid 0 0 0 0
Forfeited shares 0 0 0 0
Forfeited shares reissued 0 0 0 0
Value of shares paid-up 2,06,99,000 1,20,20,000 2,06,99,000 1,20,20,000
Reconciliation of number of shares outstanding
[Abstract]
Changes in number of shares outstanding
[Abstract]
Increase in number of shares outstanding
[Abstract]
Number of shares issued in public offering [shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued as bonus shares [shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued as rights [shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued in private
placement arising out of conversion of
[shares] 0 [shares] 0 [shares] 0 [shares] 0
debentures preference shares during
period
Number of shares issued in other private
placement
Number of shares issued as preferential
allotment arising out of conversion of
debentures preference shares during
period
Number of shares issued as other
preferential allotment
Number of shares allotted for
contracts without payment received [shares] 0 [shares] 0 [shares] 0 [shares] 0
in cash
Number of shares issued under scheme of
[shares] 8,679 [shares] 0 [shares] 8,679 [shares] 0
amalgamation
Number of other issues of shares [shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued under employee
stock option plan
45
Number of other issue of shares

arising out of conversion of [shares] 0 [shares] 0 [shares] 0 [shares] 0
securities
Total aggregate number of shares issued
during period
Decrease in number of shares during period
[Abstract]
Number of shares bought back [shares] 0 [shares] 0 [shares] 0 [shares] 0
Other decrease in number of shares [shares] 0 [shares] 0 [shares] 0 [shares] 0
Total decrease in number of shares during
period
Total increase (decrease) in number of
shares outstanding
Number of shares outstanding at end of period [shares] 20,699 [shares] 12,020 [shares] 20,699 [shares] 12,020
Reconciliation of value of shares outstanding
[Abstract]
Changes in share capital [Abstract]
Increase in share capital during period
[Abstract]
Amount of public issue during period 0 0 0 0
Amount of bonus issue during period 0 0 0 0
Amount of rights issue during period 0 0 0 0
Amount of private placement issue
arising out of conversion of debentures 0 0 0 0
preference shares during period
Amount of other private placement issue
0 0 0 0
during period
Amount of preferential allotment issue
arising out of conversion of debentures 0 0 0 0
preference shares during period
Amount of other preferential allotment
0 0 0 0
issue during period
Amount of issue allotted for
contracts without payment 0 0 0 0
received in cash during period
Amount of issue under scheme of
86,79,000 0 86,79,000 0
amalgamation during period
Amount of other issues during period 0 0 0 0
Amount of employee stock option plan
0 0 0 0
issued during period
Amount of other issue arising out of
conversion of securities during 0 0 0 0
period
Total aggregate amount of increase in
86,79,000 0 86,79,000 0
share capital during period
Decrease in share capital during period
[Abstract]
Decrease in amount of shares bought back 0 0 0 0
Other decrease in amount of shares 0 0 0 0
Total decrease in share capital during
0 0 0 0
period
Total increase (decrease) in share capital 86,79,000 0 86,79,000 0
Share capital at end of period 2,06,99,000 1,20,20,000 2,06,99,000 1,20,20,000
Rights preferences and restrictions attaching Textual information Textual information Textual information Textual information
to class of share capital (35) [See below] (36) [See below] (37) [See below] (38) [See below]
Shares in company held by holding company or
ultimate holding company or by its subsidiaries
or associates [Abstract]
Shares in company held by holding company [shares] 0 [shares] 0 [shares] 0 [shares] 0
Shares in company held by ultimate holding
company
Shares in company held by subsidiaries of its
holding company
Shares in company held by subsidiaries of its
ultimate holding company
Shares in company held by associates of its
holding company
Shares in company held by associates of its
ultimate holding company
46
Total shares in company held by holding company

or ultimate holding company or by its [shares] 0 [shares] 0 [shares] 0 [shares] 0
subsidiaries or associates
Shares reserved for issue under options
and contracts or commitments for sale of [shares] 0 [shares] 0 [shares] 0 [shares] 0
shares or disinvestment
Amount of shares reserved for issue under options
and contracts or commitments for sale of shares or 0 0 0 0
disinvestment
Aggregate number of fully paid-up shares issued
pursuant to contracts without payment being [shares] 0 [shares] 0 [shares] 0 [shares] 0
received in cash during last five years
Aggregate number of fully paid-up shares
issued by way of bonus shares during last [shares] 0 [shares] 0 [shares] 0 [shares] 0
five years
Aggregate number of shares bought back during
last five years
Original paid-up value of forfeited shares 0 0 0 0
Details of application money received for
allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of
securities and due for refund and interest
accrued thereon [Abstract]
Application money received for
allotment of securities and due for 0 0 0 0
refund, principal
Application money received for
allotment of securities and due for 0 0 0 0
refund, interest accrued
Total application money received for
allotment of securities and due for refund 0 0 0 0
and interest accrued thereon
Number of shares proposed to be issued [shares] 0 [shares] 0 [shares] 0 [shares] 0
Share premium for shares to be allotted 0 0 0 0
47
Disclosure of classes of share capital [Table] ..(2)

Classes of share capital [Axis] Equity shares 1 [Member]
01/04/2017 01/04/2016
to to
31/03/2018 31/03/2017
Disclosure of classes of share capital [Abstract]
Disclosure of classes of share capital [LineItems]
Type of share Equity Equity
Number of shares authorised [shares] 1,07,500 [shares] 20,000
Value of shares authorised 10,75,00,000 2,00,00,000
Number of shares issued [shares] 20,699 [shares] 12,020
Value of shares issued 2,06,99,000 1,20,20,000
Number of shares subscribed and fully paid [shares] 20,699 [shares] 12,020
Value of shares subscribed and fully paid 2,06,99,000 1,20,20,000
Number of shares subscribed but not fully paid [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0
Total number of shares subscribed [shares] 20,699 [shares] 12,020
Total value of shares subscribed 2,06,99,000 1,20,20,000
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 20,699 [shares] 12,020
Value of shares called 2,06,99,000 1,20,20,000
Calls unpaid [Abstract]
Calls unpaid by directors and officers [Abstract]
Calls unpaid by directors 0 0
Calls unpaid by officers 0 0
Total calls unpaid by directors and officers 0 0
Calls unpaid by others 0 0
Total calls unpaid 0 0
Forfeited shares 0 0
Forfeited shares reissued 0 0
Value of shares paid-up 2,06,99,000 1,20,20,000
Par value per share [INR/shares] 1,000 [INR/shares] 1,000
Amount per share called in case shares not fully called [INR/shares] 0 [INR/shares] 0
Reconciliation of number of shares outstanding [Abstract]
Changes in number of shares outstanding [Abstract]
Increase in number of shares outstanding [Abstract]
Number of shares issued in public offering [shares] 0 [shares] 0
Number of shares issued as bonus shares [shares] 0 [shares] 0
Number of shares issued as rights [shares] 0 [shares] 0
Number of shares issued in private placement arising out of conversion
[shares] 0 [shares] 0
of debentures preference shares during period
Number of shares issued in other private placement [shares] 0 [shares] 0
Number of shares issued as preferential allotment arising out of
conversion of debentures preference shares during period
Number of shares issued as other preferential allotment [shares] 0 [shares] 0
Number of shares allotted for contracts without payment received in cash [shares] 0 [shares] 0
Number of shares issued under scheme of amalgamation [shares] 8,679 [shares] 0
Number of other issues of shares [shares] 0 [shares] 0
Number of shares issued under employee stock option plan [shares] 0 [shares] 0
Number of other issue of shares arising out of conversion of securities [shares] 0 [shares] 0
Total aggregate number of shares issued during period [shares] 8,679 [shares] 0
Decrease in number of shares during period [Abstract]
Number of shares bought back [shares] 0 [shares] 0
Other decrease in number of shares [shares] 0 [shares] 0
Total decrease in number of shares during period [shares] 0 [shares] 0
Total increase (decrease) in number of shares outstanding [shares] 8,679 [shares] 0
Number of shares outstanding at end of period [shares] 20,699 [shares] 12,020
Reconciliation of value of shares outstanding [Abstract]
Changes in share capital [Abstract]
Increase in share capital during period [Abstract]
Amount of public issue during period 0 0
Amount of bonus issue during period 0 0
Amount of rights issue during period 0 0
48
Amount of private placement issue arising out of conversion of

0 0
debentures preference shares during period
Amount of other private placement issue during period 0 0
Amount of preferential allotment issue arising out of conversion of
0 0
debentures preference shares during period
Amount of other preferential allotment issue during period 0 0
Amount of issue allotted for contracts without payment received in cash
0 0
during period
Amount of issue under scheme of amalgamation during period 86,79,000 0
Amount of other issues during period 0 0
Amount of employee stock option plan issued during period 0 0
Amount of other issue arising out of conversion of securities during period 0 0
Total aggregate amount of increase in share capital during period 86,79,000 0
Decrease in share capital during period [Abstract]
Decrease in amount of shares bought back 0 0
Other decrease in amount of shares 0 0
Total decrease in share capital during period 0 0
Total increase (decrease) in share capital 86,79,000 0
Share capital at end of period 2,06,99,000 1,20,20,000
Textual information Textual information
Rights preferences and restrictions attaching to class of share capital (39) [See below] (40) [See below]
Shares in company held by holding company or ultimate holding company or by its
subsidiaries or associates [Abstract]
Shares in company held by holding company [shares] 0 [shares] 0
Shares in company held by ultimate holding company [shares] 0 [shares] 0
Shares in company held by subsidiaries of its holding company [shares] 0 [shares] 0
Shares in company held by subsidiaries of its ultimate holding company [shares] 0 [shares] 0
Shares in company held by associates of its holding company [shares] 0 [shares] 0
Shares in company held by associates of its ultimate holding company [shares] 0 [shares] 0
Total shares in company held by holding company or ultimate holding company
or by its subsidiaries or associates
Shares reserved for issue under options and contracts or commitments for sale of
shares or disinvestment
Amount of shares reserved for issue under options and contracts or commitments
0 0
for sale of shares or disinvestment
Aggregate number of fully paid-up shares issued pursuant to contracts
without payment being received in cash during last five years
Aggregate number of fully paid-up shares issued by way of bonus shares during last
five years
Aggregate number of shares bought back during last five years [shares] 0 [shares] 0
Original paid-up value of forfeited shares 0 0
Details of application money received for allotment of securities and due for
refund and interest accrued thereon [Abstract]
Application money received for allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of securities and due for refund,
0 0
principal
Application money received for allotment of securities and due for refund,
0 0
interest accrued
Total application money received for allotment of securities and due for
0 0
refund and interest accrued thereon
Number of shares proposed to be issued [shares] 0 [shares] 0
Share premium for shares to be allotted 0 0
Disclosure of shareholding more than five per cent in company [Table] ..(1)
Classes of share capital [Axis] Equity shares [Member]
Name of shareholder [Axis] Shareholder 1 [Member] Shareholder 2 [Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Disclosure of shareholding more than five per cent in
company [Abstract]
Disclosure of shareholding more than five per cent
in company [LineItems]
Number of shares held in company [shares] 3,367 [shares] 3,367 [shares] 3,571 [shares] 714
49
31/03/2018 31/03/2017 31/03/2018 31/03/2017
company [Abstract]
Number of shares held in company [shares] 3,600 [shares] 3,600 [shares] 2,760 [shares] 2,760
31/03/2018 31/03/2017 31/03/2018 31/03/2017
company [Abstract]
Number of shares held in company [shares] 3,232 [shares] 0 [shares] 1,480 [shares] 1,176
01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017
company [Abstract]
Type of share EQUITY EQUITY EQUITY EQUITY
Shakuntala (A) Shakuntala
Name of shareholder Deepak Sanghavi Deepak Sanghavi
Sanghavi* Sanghavi*
PAN of shareholder ABLPS7194R ABLPS7194R AWOPS4626E AWOPS4626E
Country of incorporation or residence of
INDIA INDIA INDIA INDIA
shareholder
Number of shares held in company [shares] 3,367 [shares] 3,367 [shares] 3,571 [shares] 714
Percentage of shareholding in company 16.27% 28.01% 17.25% 5.94%
Footnotes
(A) * Pending for transfer of shares on account of cessation of shareholding due to death of the shareholder. Further, the new shares (on
account of amalgamation) shall be issued to the nominee of the shareholder.
01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017
company [Abstract]
Kirit Kumar
Name of shareholder Pathak
(A) Kirit Kumar Pathak Trewellard Limited Trewellard Limited
PAN of shareholder AAPFM3013N AAPFM3013N

INDIA INDIA CYPRUS CYPRUS
shareholder
Number of shares held in company [shares] 3,600 [shares] 3,600 [shares] 2,760 [shares] 2,760
50
Footnotes
(A) (Representing Deepak & Co.)
01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017
company [Abstract]
BanyanTree Growth BanyanTree Growth
Name of shareholder Lesma Limited Lesma Limited Capital II, LLC, Capital II, LLC,
Mauritius Mauritius
CYPRUS CYPRUS MAURITIUS MAURITIUS
shareholder
Number of shares held in company [shares] 3,232 [shares] 0 [shares] 1,480 [shares] 1,176

01/04/2017 01/04/2016
to to
31/03/2018 31/03/2017
Disclosure of notes on share capital explanatory [TextBlock] [See below]
Whether there are any shareholders holding more than five per cent
Yes Yes
shares in company
Whether money raised from public offering during year No No
Rights preferences and restrictions attaching to class of share capital

The Company has a single class of equity shares. Accordingly, all equity shares rank equally with regard to dividends and share in the Company’s
residual assets. The voting rights of an equity shareholder on a poll (not on show of hands) are in proportion to its share of the paid-up equity
capital of the Company. On winding up of the Company, the holders of equity shares will be entitled to receive the residual assets of the
Company, remaining after distribution of all preferential amounts in proportion to the number of equity shares held.


51



52
Disclosure of notes on share capital explanatory [Text Block]
3. Share capital 31-Mar-18 31-Mar-17
Authorized
107,500 (31 March 2017: 20,000) equity shares of Rs. 1,000 (31 March 2017: Rs. 1,000) each 107,500,000 20,000,000
107,500,000 20,000,000
Pursuant to clause 14 of scheme of amalgamation between Nilons Enterprises Private Limited ('the transferee Company), Sanghavi Foods Private
Limited (SFPL) and Sanskar Recipes Private Limited (SRPL), as approved by National Company Law Tribunal; on and from the effective date
(i.e. 1 April 2017), the authorized share capital of the transferee Company stands automatically enhanced to Rs. 107,500,000 (107,500 shares of
Rs. 1000 each) (also refer note 45). Further, the Company is in process of filing the necessary applications to Registrar of Companies.
Issued, subscribed and paid-up
20,699 (31 March 2017: 12,020) equity shares of Rs. 1,000 (31 March 2017: Rs. 1,000) each 20,699,000 12,020,000
20,699,000 12,020,000
3.1 Reconciliation of shares outstanding at the beginning and at the end of the year
31-Mar-17
31-Mar-2018
Number Amount Number Amount
Equity shares
At the commencement of the year 12,020 12,020,000 12,020 12,020,000
Shares issued on account of amalgamation (refer note

8,679 8,679,000
a below) - -
At the end of the year 20,699 20,699,000 12,020 12,020,000
a. Shares issued for consideration other than cash
The Company has issued and allotted same class of shares of the Company to each member of SFPL and SRPL whose name is
recorded in the register of the members thereof on the record date. The Company is in process of filings necessary documents
with Ministry of Company Affairs (MCA)(Also refer note 45 viii).
3.2 Rights, preferences and restrictions attached to equity shares
53
The Company has a single class of equity shares. Accordingly, all equity shares rank equally with regard to dividends and share
in the Company’s residual assets. The voting rights of an equity shareholder on a poll (not on show of hands) are in proportion to
its share of the paid-up equity capital of the Company.
On winding up of the Company, the holders of equity shares will be entitled to receive the residual assets of the Company,
remaining after distribution of all preferential amounts in proportion to the number of equity shares held.
3.3 Details of shareholders holding more than 5% shares is set out below
Name of the shareholder 31-Mar-18 31-Mar-17
No. of shares % held No. of shares % held
Deepak Sanghavi 3,367 16.27 3,367 28.01
Shakuntala Sanghavi* 3,571 17.25 714 5.94
Deepak & Company 3,600 17.39 3,600 29.95
Trewellard Limited 2,760 13.33 2,760 22.96
Lesma Limited 3,232 15.61 - -
BanyanTree Growth Capital II, LLC, Mauritius 1,480 7.15 1,176 9.78
* Pending for transfer of shares on account of cessation of shareholding due to death of the shareholder. Further, the new shares (on account of
amalgamation) shall be issued to the nominee of the shareholder.
[200200] Notes - Reserves and surplus
Statement of changes in reserves [Table] ..(1)

Components of reserves [Axis] Reserves [Member] Capital reserves [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Statement of changes in reserves [Abstract]
Statement of changes in reserves [LineItems]
Changes in reserves [Abstract]
Additions to reserves [Abstract]
Profit (loss) for period 3,39,57,485 4,72,70,546 0 0
Other additions to reserves 19,97,56,322 0 (A) 10,12,02,758 (B) 0
Total additions to reserves 23,37,13,807 4,72,70,546 10,12,02,758 0
Total changes in reserves 23,37,13,807 4,72,70,546 10,12,02,758 0
Reserves at end of period 33,60,66,638 10,23,52,831 10,35,66,374 23,63,616
(A) Add: Addition on account of amalgamation (refer note 45) : 101202758

(B) Add: Addition on account of amalgamation (refer note 45) : 0
54

Capital reserves
Components of reserves [Axis] Securities premium account [Member]
[Member]
01/04/2017 01/04/2016
31/03/2016 to to 31/03/2016
31/03/2018 31/03/2017
Profit (loss) for period 0 0
Other additions to reserves (A) 70,41,92,380 (B) 0
Total additions to reserves 70,41,92,380 0
Total changes in reserves 70,41,92,380 0
Reserves at end of period 23,63,616 120,89,76,299 50,47,83,919 50,47,83,919
(A) Add: Addition on account of amalgamation (refer note 45) : 704192380


Components of reserves [Axis] Other reserves [Member] General reserve [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Profit (loss) for period 0 0 0 0
Other additions to reserves 0 0 0 0
Total additions to reserves 0 0 0 0
Total changes in reserves 0 0 0 0
Reserves at end of period 10,26,858 10,26,858 10,26,858 10,26,858

General reserve
Components of reserves [Axis] Surplus [Member]
[Member]
01/04/2017 01/04/2016
31/03/2016 to to 31/03/2016
31/03/2018 31/03/2017
Profit (loss) for period 3,39,57,485 4,72,70,546
Other additions to reserves (A) -60,56,38,816 (B) 0
Total additions to reserves -57,16,81,331 4,72,70,546
Total changes in reserves -57,16,81,331 4,72,70,546
Reserves at end of period 10,26,858 -97,75,02,893 -40,58,21,562 -45,30,92,108
(A) Add: Addition on account of amalgamation (refer note 45) : -605638816

55
[200300] Notes - Borrowings
Details of bonds or debentures [Table] ..(1)

Details of bonds or debentures [Axis] 1
01/04/2017 01/04/2016
to to
31/03/2018 31/03/2017
Borrowings notes [Abstract]
Details of bonds or debentures [Abstract]
Details of bonds or debentures [LineItems]
Whether bonds or debentures Debenture Debenture
Nature of bond or debenture Fully convertible Fully convertible
Holder of bond or debenture Others Others
Rate of interest 0.01% 0.01%
Textual information Textual information
Particulars of redemption or conversion (42) [See below] (43) [See below]
Nominal value per bond or debenture [pure] 0 [pure] 1,00,000
Number of bonds or debentures [pure] 0 [pure] 2,394
Amount of bonds or debentures issued during period 0 23,94,00,000
Number of allottees to whom bonds or debentures were issued [pure] 0 [pure] 1
Nominal amount of bonds or debentures held by nominee or trustee of company [pure] 0
Classification of borrowings [Table] ..(1)

Classification based on time period [Axis] Long-term [Member]
Classification of borrowings [Axis] Borrowings [Member] Bonds/debentures [Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member] Unsecured borrowings [Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Details of borrowings [Abstract]
Details of borrowings [LineItems]
Borrowings 106,10,58,313 69,65,65,000 99,91,50,000 44,42,15,000

Fully convertible debentures others
Classification of borrowings [Axis] Debentures [Member]
[Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Borrowings 99,91,50,000 44,42,15,000 (A) 99,91,50,000 (B) 44,42,15,000
Footnotes
(A) 3,650 (2017 : Nil) 0% compulsorily convertible debentures of Rs 1,37,000 each (refer note (b) and (d) below) : 500050000 4,991
(2017:2,394) 0.001% p.a. compulsorily convertible debentures of Rs. 100,000 (refer note (a) and (c) below) : 499100000 Application
money pending for allotment : 0
(B) 3,650 (2017 : Nil) 0% compulsorily convertible debentures of Rs 1,37,000 each (refer note (b) and (d) below) : 0 4,991 (2017:2,394)
0.001% p.a. compulsorily convertible debentures of Rs. 100,000 (refer note (a) and (c) below) : 239400000 Application money pending
for allotment : 204815000
56

Classification of borrowings [Axis] Term loans [Member] Term loans from banks [Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Borrowings 6,19,08,313 25,23,50,000 6,19,08,313 25,23,50,000

Classification based on time period [Axis] Long-term [Member] Short-term [Member]
Classification of borrowings [Axis] Rupee term loans from banks [Member] Borrowings [Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member] Secured borrowings [Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Borrowings 6,19,08,313 25,23,50,000 55,34,02,396 28,08,00,517

Classification based on time period [Axis] Short-term [Member]
Working capital loans from banks
Classification of borrowings [Axis] Borrowings [Member]
[Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member] Secured borrowings [Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Borrowings 0 9,07,42,144 55,34,02,396 28,08,00,517

Loans and advances from related parties Loans and advances from others
Classification of borrowings [Axis]
[Member] [Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Borrowings 0 8,07,42,144 (A) 0 (B) 8,07,42,144
Footnotes
(A) Loans from related parties : 0
(B) Loans from related parties : 80742144

Other loans and advances, others
Classification of borrowings [Axis] Other loans and advances [Member]
[Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Borrowings 0 1,00,00,000 (A) 0 (B) 1,00,00,000
57
Footnotes
(A) Loans from others : 0
(B) Loans from others : 10000000
01/04/2017
to
31/03/2018
Disclosure of notes on borrowings explanatory [TextBlock] [See below]
Particulars of redemption or conversion

(a) 0.001% p.a. unsecured compulsorily convertible debentures (CCD) of Rs. 100,000 each were allotted to Banyantree Growth Capital II, LLC
(Banyantree) through "Subscription cum Shareholders Agreement" on 10 June 2014. As per terms of issue, the said CCD's are compulsorily
convertible into equity shares at the end of 7 years from the date of subscription or any time before 7th year. This conversion can be done on
multiple times in respect of all or part of the CCD's into equity shares of the Company at the option of Banyantree, under specified circumstances
at a conversion price ranging between Rs. 30,000 (Floor price) and Rs. 72,000 (Cap price).
Particulars of redemption or conversion

(a) 0.001% p.a. unsecured compulsorily convertible debentures (CCD) of Rs. 100,000 each were allotted to Banyantree Growth Capital II, LLC
(Banyantree) through "Subscription cum Shareholders Agreement" on 10 June 2014. As per terms of issue, the said CCD's are compulsorily
convertible into equity shares at the end of 7 years from the date of subscription or any time before 7th year. This conversion can be done on
multiple times in respect of all or part of the CCD's into equity shares of the Company at the option of Banyantree, under specified circumstances
at a conversion price ranging between Rs. 30,000 (Floor price) and Rs. 72,000 (Cap price).
58
Disclosure of notes on borrowings explanatory [Text Block]
5. Long-term borrowings 31-Mar-18 31-Mar-17
Debentures
Unsecured (also refer note 45)
4,991 (2017:2,394) 0.001% p.a. compulsorily convertible debentures of Rs. 100,000 (refer
499,100,000 239,400,000
note (a) and (c) below)
3,650 (2017 : Nil) 0% compulsorily convertible debentures of Rs 1,37,000 each (refer note
500,050,000
(b) and (d) below) -
Application money pending for allotment 204,815,000

-
Term Loans (Secured)
From banks 61,908,313 252,350,000
1,061,058,313 696,565,000
Debentures :
(a) 0.001% p.a. unsecured compulsorily convertible debentures (CCD) of Rs. 100,000 each were allotted to Banyantree Growth
Capital II, LLC (Banyantree) through "Subscription cum Shareholders Agreement" (including debentures acquired on account of
business purchase) on 10 June 2014. As per terms of issue, the said CCD's are compulsorily convertible into equity shares at
the end of 7 years from the date of subscription or any time before 7th year. This conversion can be done on multiple times in
respect of all or part of the CCD's into equity shares of the Company at the option of Banyantree, under specified circumstances
at a conversion price ranging between Rs. 30,000 (Floor price) and Rs. 85,000 (2017: 72,000) (Cap price).
(b) Zero coupon compulsory convertible debentures Series B (CCD-B) of Rs. 137,000 each were allotted to existing shareholders
of the Company (post conversion of existing Compulsory Convertible Debentures (CCD) into Equity as per clause 13 of
Subscription-cum-Shareholder Agreement dated May 30, 2014 (SSHA)) ranking pari-passu with the existing CCD as per SSHA,
except for conversion. These CCD-B will be converted into Equity Shares on 1 April 2020 in proportion to one Equity Share for
each Debenture held at a conversion price of Rs. 137,000.
(c) The Company as per the scheme of amalgamation as approved by Hon'ble National Company Law Tribunal (NCLT), shall
allot 2,098 and 499 numbers of 0.001% p.a. unsecured compulsorily convertible debentures (CCD) of Rs. 100,000 each to
Banyantree Growth Capital II, LLC (Banyantree) for equivalent number of debentures held in SFPL and SRPL respectively.
These debentures will hold similar terms and conditions as that of CCD issued by the Company (also refer note 45).
(d) The total outstanding debentures include 1,095 CCD-B debentures which shall be issued to the debentureholders of SFPL as
per the scheme of amalgamation approved by Hon'ble NCLT. These debentures will hold similar terms and conditions as that of
CCD-B issued by the Company (also refer note 45).
59
Secured term loans :
Secured :
a) Term loans from banks (including current maturities of long term borrowings) in Indian rupees carry interest rate ranging from
10.50% to 12.85% p.a. (2017 : 11.30% to 14.55% p.a.). The number of monthly installments payable are 58 (2017 : Quarterly
installments of 4 to 23).
Securities offered :
a) Term loans from banks (including current maturities of long term borrowings) aggregating to Rs.62,475,000 (2017: Rs.
252,350,000) as at year end are managed by SBICAP Trustee Company Limited which has agreed to act as security trustee for
the lenders and to hold the security in trust for the benefit of the lenders.
b) Term loan from bank of Rs. 58,725,000 (2017: Nil) as at the year end included in (a) above in this para is secured against-
1. First parri passu mortgage and Hypothication charge with consortium bank on movable and immovable fixed asset bearing gat
no 175/2B, 175/2A/2, 175/2A/1/2 at Utran, and gat no.85 at Musli.
2. First Parri Passu charge on all borrower's tangible movable assets, including but not limited to movable plant and equipments,
machinery spares, tools and accessories, furniture, fixtures, vehicles and all other movable assets both present and future.
3. Second Pari Passu charge on current assets of the Company along with other consortium banks both present and future.
4. Personal guarantee of Mr. Deepak Sanghavi (Managing Director) and Mrs. Ritu Sanghavi.
c) Term loan from bank of Rs. 3,750,000 (2017: Rs. 18,750,000) as at the year end included in (a) above in this para is secured
against-
1. First charge on pari-passu basis with other consortium banks namely State Bank of India, IDBI Bank, Exim Bank and Yes
Bank on all movable and immoveable fixed assets of the company, present and future including hypothecation of plant and
machinery and mortgage of land and building as mentioned in para (a) above and
2. Second pari-passu charge on all current assets present and future along with other banks in consortium.
3. Unconditional and irrevocable personal guarantee of Mr. Deepak Sanghavi (Managing Director) and Mrs. Ritu Deepak
Sanghavi.
d) Term loan from bank of Rs. 19,333,313 (2017 : Nil) as at the year end is secured against:
1. Pari-passu on the entire current assets of the Company, existing and future, comprising of raw material, work in progress and
finished goods, receivable, book debts and other current assets.
2. Pari-passu charge on the movable fixed assets of the Company by way of hypothication, value of Fixed Asset as per March
2016 is Rs. 470.28 million. Mortgage of immovable properties of the Company comprising of gat no 809 and 858 at Dambhurni
and factory land and building at Dalgaon.
3. Personal guarantee of Mr. Deepak Sanghavi.
Maturity of term loans (Secured)-
Maturity profile
Less than 1 year * 1-2 Years 2-3 Years 3-4 Years Beyond 4 years
As at 31 March 2018 19,900,000 16,150,000 16,150,000 16,150,000 13,458,313
60
As at 31 March 2017 47,432,955 15,750,000 20,000,000 26,800,000 189,800,000
* disclosed under other current liabilities (also refer note 10)
8. Short-term borrowings
Secured
Loans repayable on demand
Working capital loans from banks 553,402,396 280,800,517
Unsecured
Loans from related parties - 80,742,144
Loans from others - 10,000,000
553,402,396 371,542,661
Secured
a) Working capital loans from banks amounting to Rs. 553,402,396 (2017: Rs. 280,800,517) representing cash credit facilities
carry interest rate ranging between 10% to 12.85% p.a. (2017 : 10.6% to 16.25% p.a.) computed on monthly basis on actual
amount utilised and are repayable on demand.
Unsecured
Loan from a related party comprises-
a) Unsecured loans from private limited Company amounting to Nil (2017: Rs. 80,742,144) in which director of the Company is
member carry interest rate of 14% p.a. (2016 : 14 % p.a.) computed on daily basis on actual amount utilised. Loan is repayable
on demand and interest on such loan is repayable on yearly basis.
Loan from others comprises-
a) Unsecured loan from a private limited Company amounting to Nil (2017 : 10,000,000) carrying interest rate of Nil (2017 : 18%
p.a). Loan and interest is repayable on demand.
Security
(a) Working capital loans aggregating to Rs. 494,509,299 (2017: Rs. 280,800,517) as at the year end are part of consortium
finance managed by SBICAP Trustee Company Limited which has agreed to act as security trustee for the lenders and to hold
the security in trust for the benefit of the lenders. The securities offered under the said agreement are as under:
1. First pari passu mortgage and charge on Company's entire current assets and trade receivables.
2. Second parri passu mortgage and Hypothication charge with consortium bank on movable and immovable fixed asset bearing
gat no 175/2B, 175/2A/2, 175/2A/1/2 at Utran, and gat no.85 at Musli together with immovable plant and equipments attached to
earth or permanently fastened to anything attached to the earth, both present and future.
3. A second pari passu charge of the Company’s all movable assets including movable plant and equipments, equipment spares,
tools and accessories, furniture, fixtures, vehicles and all other movable assets both present and future.
61
4. Irrevocable personal guarantee of Mr. Deepak Sanghavi (Managing Director) and Mrs. Ritu Deepak Sanghavi.
b) Cash credit facilities amounting to Rs. 142,867,517 (2017 : Rs. 64,254,820) as at the year end included in (a) above in this
para from State Bank of India is secured against additional collateral security of agricultural land bearing gat no 175/2A/1 located
at Utran, Tal. Erandol, Dist. Jalgaon measuring to (8 hectares, 93 acres) exclusively mortgaged to State Bank of India.
c) Working capital loan of Rs. 57,369,312 (2017 : Nil) as at the year end is secured against:
1. Pari-passu on the entire current assets of the Company, existing and future, comprising of raw material, work in progress and
finished goods, receivable, book debts and other current assets.
2. Pari-passu charge on the movable fixed assets of the Company by way of hypothication and mortgage of immovable
properties of the Company comprising of gat no 809 and 858 at Dambhurni and factory land and building at Dalgaon.
3. Personal guarantee of Mr. Deepak Sanghavi.
d) Working capital loan of Rs. 1,516,555 (2017 : Nil) from IDBI Bank as at the year end is secured against hypothecation charge
on all current assets of the company, existing and future and equitable mortgage of Factory Land and Building and
Hypothecation of Machinery located at Dalgaon.
[201000] Notes - Tangible assets
Disclosure of additional information tangible assets [Table] ..(1)

Company total tangible assets
Classes of tangible assets [Axis] Land [Member]
[Member]
Owned and leased assets Owned and leased assets
Sub classes of tangible assets [Axis] Owned assets [Member]
[Member] [Member]
01/04/2016
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017
to to to to to
to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018
31/03/2017
Disclosure of additional information
tangible assets [Abstract]
tangible assets [LineItems]
Straight
Depreciation method tangible assets - - - - Straight Line Value
Line Value
Useful lives or depreciation rates Freehold land is not
NA NA NA NA 5-15years
tangible assets depreciated

Classes of tangible assets [Axis] Buildings [Member] Plant and equipment [Member]
[Member] [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
Straight Line Straight Line
Depreciation method tangible assets - -
Value Value
- -
Useful lives or depreciation rates

NA NA 30-60years 10 years NA NA
tangible assets
62

Classes of tangible assets [Axis] Plant and equipment [Member] Furniture and fixtures [Member]
Owned and leased assets
Sub classes of tangible assets [Axis] Owned assets [Member] Owned assets [Member]
[Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
Straight Line Straight Line Straight Line Straight Line
Depreciation method tangible assets Value Value
- -
Value Value
5-15years 3 years NA NA 10 years NA
tangible assets

Computer equipments
Classes of tangible assets [Axis] Vehicles [Member]
[Member]
[Member] [Member]
01/04/2017
01/04/2017 01/04/2016 01/04/2016 01/04/2017 01/04/2016
to to to to to
to
31/03/2018 31/03/2017 31/03/2017 31/03/2018 31/03/2017
31/03/2018
Straight
Depreciation method tangible assets - -
Line Value
Straight Line Value - -
Useful lives or depreciation rates Freehold land is not

NA NA 06-10years NA NA
tangible assets depreciated

Classes of tangible assets [Axis] Computer equipments [Member] Leasehold improvements [Member]
Owned and leased assets
Sub classes of tangible assets [Axis] Owned assets [Member] Owned assets [Member]
[Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
Straight Line Straight Line Straight Line Straight Line
Depreciation method tangible assets Value Value
- -
Value Value
3 years 30-60years NA NA NA 06-10years
tangible assets
63
Disclosure of tangible assets [Table] ..(1)

Classes of tangible assets [Axis] Company total tangible assets [Member]
Sub classes of tangible assets [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross Gross carrying amount Accumulated depreciation and
Carrying amount [Member]
carrying amount [Axis] [Member] impairment [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
Disclosure of tangible assets [Abstract]
Disclosure of tangible assets
[LineItems]
Reconciliation of changes in
Changes in tangible assets
[Abstract]
Additions other than through
business combinations tangible 6,51,94,042 8,80,42,425 6,51,94,042 8,80,42,425
assets
Acquisitions through
business combinations 74,64,97,090 0 74,64,97,090 0
tangible assets
Depreciation tangible assets -8,22,91,038 -4,46,97,832 8,22,91,038 4,46,97,832
Impairment loss
recognised in profit or 0 0 0 0
loss tangible assets
Reversal of impairment loss
recognised in profit or loss 0 0 0 0
tangible assets
Revaluation increase
0 0 0 0
(decrease) tangible assets
Disposals tangible assets
[Abstract]
0 0 0 0 0 0
through demergers
Disposals tangible assets,
76,12,341 6,37,832 76,12,341 7,39,316 0 1,01,484
others
Total disposals tangible
76,12,341 6,37,832 76,12,341 7,39,316 0 1,01,484
assets
Other adjustments tangible
assets [Abstract]
Increase (decrease) through
net exchange differences 0 0 0 0
tangible assets
-23,63,63,043 0 0 0 23,63,63,043 0
assets, others
Total other adjustments
-23,63,63,043 0 0 0 23,63,63,043 0
tangible assets
Total changes in tangible
48,54,24,710 4,27,06,761 80,40,78,791 8,73,03,109 31,86,54,081 4,45,96,348
assets
Tangible assets at end of period 123,64,54,170 75,10,29,460 188,87,22,577 108,46,43,786 65,22,68,407 33,36,14,326
64

Classes of tangible assets [Axis] Company total tangible assets [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
76,12,341 6,37,832 76,12,341 7,39,316 0 1,01,484
others
76,12,341 6,37,832 76,12,341 7,39,316 0 1,01,484
assets
assets [Abstract]
tangible assets
-23,63,63,043 0 0 0 23,63,63,043 0
assets, others
-23,63,63,043 0 0 0 23,63,63,043 0
tangible assets
48,54,24,710 4,27,06,761 80,40,78,791 8,73,03,109 31,86,54,081 4,45,96,348
assets
65

01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
[LineItems]
[Abstract]
business combinations tangible 0 0 0 0
assets
tangible assets
Depreciation tangible assets 0 0 0 0
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
76,12,341 0 76,12,341 0 0 0
others
76,12,341 0 76,12,341 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
87,90,408 0 87,90,408 0 0 0
assets
Tangible assets at end of period 2,60,72,406 1,72,81,998 2,60,72,406 1,72,81,998 0 0
66

01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
[LineItems]
[Abstract]
business combinations tangible 0 0 0 0
assets
tangible assets
Depreciation tangible assets 0 0 0 0
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
76,12,341 0 76,12,341 0 0 0
others
76,12,341 0 76,12,341 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
87,90,408 0 87,90,408 0 0 0
assets
Tangible assets at end of period 2,60,72,406 1,72,81,998 2,60,72,406 1,72,81,998 0 0
67

Classes of tangible assets [Axis] Buildings [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
-6,03,48,879 0 0 0 6,03,48,879 0
assets, others
-6,03,48,879 0 0 0 6,03,48,879 0
tangible assets
18,72,28,902 4,95,72,082 27,73,04,783 6,90,41,660 9,00,75,881 1,94,69,578
assets
68

Classes of tangible assets [Axis] Buildings [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
-6,03,48,879 0 0 0 6,03,48,879 0
assets, others
-6,03,48,879 0 0 0 6,03,48,879 0
tangible assets
18,72,28,902 4,95,72,082 27,73,04,783 6,90,41,660 9,00,75,881 1,94,69,578
assets
69

Classes of tangible assets [Axis] Plant and equipment [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
-16,32,38,855 0 0 0 16,32,38,855 0
assets, others
-16,32,38,855 0 0 0 16,32,38,855 0
tangible assets
27,33,39,070 3,63,256 48,04,56,007 1,64,69,715 20,71,16,937 1,61,06,459
assets
70

Classes of tangible assets [Axis] Plant and equipment [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
-16,32,38,855 0 0 0 16,32,38,855 0
assets, others
-16,32,38,855 0 0 0 16,32,38,855 0
tangible assets
27,33,39,070 3,63,256 48,04,56,007 1,64,69,715 20,71,16,937 1,61,06,459
assets
71

Classes of tangible assets [Axis] Furniture and fixtures [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
[LineItems]
[Abstract]
business combinations tangible 17,40,417 6,89,080 17,40,417 6,89,080
assets
tangible assets
Depreciation tangible assets -48,48,714 -60,88,244 48,48,714 60,88,244
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
-95,69,611 0 0 0 95,69,611 0
assets, others
-95,69,611 0 0 0 95,69,611 0
tangible assets
13,27,791 -53,99,164 1,57,46,116 6,89,080 1,44,18,325 60,88,244
assets
72

Classes of tangible assets [Axis] Furniture and fixtures [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
-95,69,611 0 0 0 95,69,611 0
assets, others
-95,69,611 0 0 0 95,69,611 0
tangible assets
13,27,791 -53,99,164 1,57,46,116 6,89,080 1,44,18,325 60,88,244
assets
73

01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
[LineItems]
[Abstract]
business combinations tangible 0 3,00,000 0 3,00,000
assets
business combinations 31,76,514 0 31,76,514 0
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 6,37,832 0 7,39,316 0 1,01,484
others
0 6,37,832 0 7,39,316 0 1,01,484
assets
assets [Abstract]
tangible assets
-19,32,523 0 0 0 19,32,523 0
assets, others
-19,32,523 0 0 0 19,32,523 0
tangible assets
-3,52,554 -16,09,963 31,76,514 -4,39,316 35,29,068 11,70,647
assets
Tangible assets at end of period 57,51,432 61,03,986 2,25,13,584 1,93,37,070 1,67,62,152 1,32,33,084
74

01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
[LineItems]
[Abstract]
business combinations tangible 0 3,00,000 0 3,00,000
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 6,37,832 0 7,39,316 0 1,01,484
others
0 6,37,832 0 7,39,316 0 1,01,484
assets
assets [Abstract]
tangible assets
-19,32,523 0 0 0 19,32,523 0
assets, others
-19,32,523 0 0 0 19,32,523 0
tangible assets
-3,52,554 -16,09,963 31,76,514 -4,39,316 35,29,068 11,70,647
assets
75

Classes of tangible assets [Axis] Computer equipments [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
-7,18,479 0 0 0 7,18,479 0
assets, others
-7,18,479 0 0 0 7,18,479 0
tangible assets
8,05,591 -2,19,450 25,94,923 15,41,970 17,89,332 17,61,420
assets
76

Classes of tangible assets [Axis] Computer equipments [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
-7,18,479 0 0 0 7,18,479 0
assets, others
-7,18,479 0 0 0 7,18,479 0
tangible assets
8,05,591 -2,19,450 25,94,923 15,41,970 17,89,332 17,61,420
assets
77

Classes of tangible assets [Axis] Leasehold improvements [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
[LineItems]
[Abstract]
business combinations tangible 1,30,25,040 0 1,30,25,040 0
assets
tangible assets
Depreciation tangible assets -11,69,842 0 11,69,842 0
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
-5,54,696 0 0 0 5,54,696 0
assets, others
-5,54,696 0 0 0 5,54,696 0
tangible assets
1,42,85,502 0 1,60,10,040 0 17,24,538 0
assets
Tangible assets at end of period 1,42,85,502 0 1,60,10,040 0 17,24,538 0
78

Classes of tangible assets [Axis] Leasehold improvements [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
[LineItems]
[Abstract]
business combinations tangible 1,30,25,040 0 1,30,25,040 0
assets
tangible assets
Depreciation tangible assets -11,69,842 0 11,69,842 0
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
-5,54,696 0 0 0 5,54,696 0
assets, others
-5,54,696 0 0 0 5,54,696 0
tangible assets
1,42,85,502 0 1,60,10,040 0 17,24,538 0
assets
Tangible assets at end of period 1,42,85,502 0 1,60,10,040 0 17,24,538 0

01/04/2017
to
31/03/2018
Disclosure of notes on tangible assets explanatory [TextBlock] [See below]
79
Disclosure of notes on tangible assets explanatory [Text Block]
12. Fixed assets
(a) Property, plant and equipment
Freehold Plant and

Particulars Leasehold Improvements Buildings
Land equipment
Gross block
Balance as at 1 April 2016 17,281,998 - 534,674,927 331,608,918
Additions - - 69,041,660 16,469,715
Disposals
Balance as at 31 March 2017 17,281,998 - 603,716,587 348,078,633
Balance as at 1 April 2017 17,281,998 - 603,716,587 348,078,633
Additions on account of amalgamation (refer note

16,402,749 2,985,000 260,871,278 448,102,658
45)
Additions - 13,025,040 16,433,505 32,353,349
Disposals 7,612,341 - - -
Balance as at 31 March 2018 26,072,406 16,010,040 881,021,370 828,534,640
Accumulated depreciation
Balance as at 1 April 2016 - 68,946,831 177,942,002
Depreciation for the year 19,469,578 16,106,459
Accumulated depreciation on disposals
Balance as at 31 March 2017 - - 88,416,409 194,048,461
Balance as at 1 April 2017 - 88,416,409 194,048,461
Additions on account of amalgamation (refer note

- 554,696.00 60,348,879 163,238,855
45)
80
Depreciation for the year 1,169,842.00 29,727,002 43,878,082
Accumulated depreciation on disposals -
Balance as at 31 March 2018 - 1,724,538.00 178,492,290 401,165,398
Net block
Balance as at 31 March 2017 17,281,998 - 515,300,178 154,030,172
Particulars Vehicles Furniture & fittings Computers Total
Gross block
Balance as at 1 April 2016 19,776,386 79,269,659 14,728,789 997,340,677
Additions 300,000 689,080 1,541,970 88,042,425
Disposals 739,316 739,316
Balance as at 31 March 2017 19,337,070 79,958,739 16,270,759 1,084,643,786
Balance as at 1 April 2017 19,337,070 79,958,739 16,270,759 1,084,643,786
Additions on account of amalgamation (refer note 45) 3,176,514 14,005,699 953,192 746,497,090
Additions - 1,740,417 1,641,731 65,194,042
Disposals - - 7,612,341
Accumulated depreciation
Depreciation for the year 1,272,131 6,088,244 1,761,420 44,697,832
Accumulated depreciation on disposals 101,484 101,484
Additions on account of amalgamation (refer note 45) 1,932,523 9,569,611 718,479 236,363,043
81
Depreciation for the year 1,596,545 4,848,714 1,070,853 82,291,038
Accumulated depreciation on disposals -
Net block
82
[201100] Notes - Intangible assets
Disclosure of intangible assets [Table] ..(1)

Classes of intangible assets [Axis] Company total intangible assets [Member]
Sub classes of intangible assets [Axis] Internally generated and other than internally generated intangible assets [Member]
Carrying amount accumulated amortization and Gross carrying amount Accumulated amortization and
impairment and gross carrying amount [Axis] [Member] impairment [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
Disclosure of intangible assets [Abstract]
Disclosure of intangible assets
[LineItems]
intangible assets [Abstract]
Changes in intangible assets
[Abstract]
Additions to intangible assets
[Abstract]
Additions through internal
5,24,700 0 5,24,700 0
development
business combinations 0 0 0 0
intangible assets
intangible assets
Total additions to
5,24,700 0 5,24,700 0
intangible assets
Amortization intangible assets -25,65,190 -24,61,728 25,65,190 24,61,728
Impairment loss
loss intangible assets
intangible assets
0 0 0 0
(decrease) intangible assets
Disposals intangible assets
[Abstract]
Disposals intangible
0 0 0 0 0 0
assets through demergers
0 0 0 0 0 0
assets, others
Total disposals intangible
0 0 0 0 0 0
assets
Retirements of intangible
0 0 0 0 0 0
assets
Other adjustments intangible
assets [Abstract]
intangible assets
Other adjustments
0 0 0 0 0 0
intangible assets, others
0 0 0 0 0 0
intangible assets
Total changes in intangible
-20,40,490 -24,61,728 5,24,700 0 25,65,190 24,61,728
assets
Intangible assets at end of period 95,06,667 1,15,47,157 1,68,10,552 1,62,85,852 73,03,885 47,38,695
83

Classes of intangible assets [Axis] Company total intangible assets [Member]
Sub classes of intangible assets [Axis] Intangible assets other than internally generated [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
[LineItems]
[Abstract]
[Abstract]
5,24,700 0 5,24,700 0
development
intangible assets
intangible assets
Total additions to
5,24,700 0 5,24,700 0
intangible assets
Impairment loss
intangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
assets
0 0 0 0 0 0
assets
assets [Abstract]
intangible assets
Other adjustments
0 0 0 0 0 0
0 0 0 0 0 0
intangible assets
-20,40,490 -24,61,728 5,24,700 0 25,65,190 24,61,728
assets
84

Classes of intangible assets [Axis] Computer software [Member]
Sub classes of intangible assets [Axis] Internally generated and other than internally generated intangible assets [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
[LineItems]
[Abstract]
[Abstract]
5,24,700 0 5,24,700 0
development
intangible assets
intangible assets
Total additions to
5,24,700 0 5,24,700 0
intangible assets
Impairment loss
intangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
assets
0 0 0 0 0 0
assets
assets [Abstract]
intangible assets
Other adjustments
0 0 0 0 0 0
0 0 0 0 0 0
intangible assets
-20,40,490 -24,61,728 5,24,700 0 25,65,190 24,61,728
assets
85

Sub classes of intangible assets [Axis] Intangible assets other than internally generated [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
[LineItems]
[Abstract]
[Abstract]
5,24,700 0 5,24,700 0
development
intangible assets
intangible assets
Total additions to
5,24,700 0 5,24,700 0
intangible assets
Impairment loss
intangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
assets
0 0 0 0 0 0
assets
assets [Abstract]
intangible assets
Other adjustments
0 0 0 0 0 0
0 0 0 0 0 0
intangible assets
-20,40,490 -24,61,728 5,24,700 0 25,65,190 24,61,728
assets
86
Disclosure of additional information intangible assets [Table] ..(1)

Company total intangible assets
[Member]
Internally generated and other Internally generated and other
Intangible assets other than
Sub classes of intangible assets [Axis] than internally generated than internally generated
internally generated [Member]
intangible assets [Member] intangible assets [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017 31/03/2018 31/03/2017
intangible assets [LineItems]
Useful lives or amortization rates
NA NA NA NA 7 years 1.00
intangible assets
Description of amortization method Straight Line Written Down
- - - -
used Value Value

01/04/2017
to
31/03/2018
Disclosure of notes on intangible assets explanatory [TextBlock] [See below]
87
Disclosure of notes on intangible assets explanatory [Text Block]

(b) Intangible fixed assets (Other than internally generated)
Computer Software Total
Gross Block
Balance as at 1 April 2016 16,285,852 16,285,852
Additions - -
Balance as at 31 March 2017 16,285,852 16,285,852
Additions 524,700 524,700
Accumulated amortisation
Amortisation for the year 2,461,728 2,461,728
Amortisation for the year 2,565,190 2,565,190
Net block
88
[200400] Notes - Non-current investments
Details of non-current investments [Table] ..(1)

Classification of non-current investments [Axis] 1
01/04/2017 01/04/2016
to to
31/03/2018 31/03/2017
Non-current investments [Abstract]
Disclosure of details of non-current investments [Abstract]
Details of non-current investments [LineItems]
Investment in other Investment in other
Type of non-current investments Indian companies Indian companies
equity instruments equity instruments
Class of non-current investments Trade investments Trade investments
Nature of non-current investments unquoted unquoted
Non-current investments (A) 0 2,00,000
Multiplus Capital Multiplus Capital
Name of body corporate in whom investment has been made Management Private Management Private
Limited Limited
Number of shares of non-current investment made in body corporate [shares] 20,000 [shares] 20,000
Details of non-current investments carried at other than cost [Abstract]
Basis of valuation for non-current investments carried at other than at cost at cost
Footnotes
(A) 20,000 (2017: 20,000) equity shares of Rs. 10 (2017 : Rs. 10) each fully paid up200,000 Less: Provision for diminution in value of
investment-200,000
31/03/2018 31/03/2017
Disclosure of notes on non-current investments explanatory [TextBlock]
Aggregate amount of quoted non-current investments 0 0
Market value of quoted non-current investments 0 0
Aggregate amount of unquoted non-current investments 0 2,00,000
Aggregate provision for diminution in value of non-current investments 0 0
[200600] Notes - Subclassification and notes on liabilities and assets
Disclosure of breakup of provisions [Table] ..(1)

31/03/2018 31/03/2017 31/03/2018 31/03/2017
Subclassification and notes on liabilities and assets
[Abstract]
Provisions notes [Abstract]
Disclosure of breakup of provisions [Abstract]
Disclosure of breakup of provisions [LineItems]
Provisions [Abstract]
Provisions for employee benefits
[Abstract]
Provision gratuity (A) 1,76,98,492 (B) 91,23,848 (C) 51,27,528 (D) 19,92,696
Provision leave encashment (E) 24,79,836 (F) 14,64,366 (G) 8,01,308 (H) 3,99,207
Total provisions for employee benefits 2,01,78,328 1,05,88,214 59,28,836 23,91,903
CSR expenditure provision 0 0 0 0
Total provisions 2,01,78,328 1,05,88,214 59,28,836 23,91,903
89
Footnotes
(A) Gratuity (also refer note 37) : 17698492
(B) Gratuity (also refer note 37) : 9123848
(C) Gratuity (also refer note 37) : 5127528
(D) Gratuity (also refer note 37) : 1992696
(E) Compensated absences : 2479836
(F) Compensated absences : 1464366
(G) Compensated absences : 801308
(H) Compensated absences : 399207
Loans and advances [Table] ..(1)

Classification of loans and advances [Axis] Loans and advances [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Doubtful [Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
[Abstract]
Loans and advances notes [Abstract]
Loans and advances [Abstract]
Disclosure of loans and advances [LineItems]
Loans and advances, gross 5,37,59,662 2,92,25,804 0 15,85,414
Allowance for bad and doubtful loans and
0 0 0 0
advances
Loans and advances 5,37,59,662 2,92,25,804 0 15,85,414
Details of loans and advances due by
directors, other officers or others
[Abstract]
Loans and advances due by directors 0 0 0 0
Loans and advances due by other officers 0 0 0 0
Details of loans and advances due by firms
or companies in which any director is
partner or director [Abstract]
Loans and advances due by firms in
0 0 0 0
which any director is partner
Total loans and advances due
by firms or companies in which
0 0 0 0
any director is partner or
director
90

Classification of loans and advances [Axis] Capital advances [Member] Security deposits [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
[Abstract]
Loans and advances, gross (A) 3,72,78,773 (B) 2,25,02,940 97,37,286 33,64,593
0 0 0 0
advances
Loans and advances 3,72,78,773 2,25,02,940 97,37,286 33,64,593
[Abstract]
0 0 0 0
0 0 0 0
director
Footnotes
(A) To related parties-Capital advances : 15000000 To parties other than related parties- Considered good : 22278773 To parties other
than related parties-Considered doubtful : 1247683 Less : Provision for doubtful advances : -1247683
(B) To related parties-Capital advances : 15000000 To parties other than related parties- Considered good : 7502940 To parties other than
related parties-Considered doubtful : 2551838 Less : Provision for doubtful advances : -2551838

Classification of loans and advances [Axis] Other loans and advances [Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
[Abstract]
Loans and advances, gross 67,43,603 33,58,271 0 15,85,414
0 0 0 0
advances
Loans and advances 67,43,603 33,58,271 0 15,85,414
[Abstract]
0 0 0 0
0 0 0 0
director
91

Classification of loans and advances [Axis] Prepaid expenses [Member] Advance tax [Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
[Abstract]
Loans and advances, gross 2,10,062 0 41,09,391 33,58,271
0 0 0 0
advances
Loans and advances 2,10,062 0 41,09,391 33,58,271
[Abstract]
0 0 0 0
0 0 0 0
director

Classification of loans and advances [Axis] Advance income tax paid [Member] VAT receivable [Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
[Abstract]
Loans and advances, gross (A) 41,09,391 (B) 33,58,271 (C) 0 (D) 15,85,414
0 0 0 0
advances
[Abstract]
0 0 0 0
0 0 0 0
director
Footnotes
(A) Advance tax paid and tax deducted at source (net of provision) : 4109391
(B) Advance tax paid and tax deducted at source (net of provision) : 3358271
(C) Value added tax receivable [includes Nil (2017 : Rs. 876,688) paid under protest] : 0
(D) Value added tax receivable [includes Nil (2017 : Rs. 876,688) paid under protest] : 1585414
92

Classification of loans and advances [Axis] Loans and advances [Member]
[Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
[Abstract]
Loans and advances, gross (A) 24,24,150 (B) 0 4,86,12,282 10,06,07,073
0 0 0 0
advances
Loans and advances 24,24,150 0 4,86,12,282 10,06,07,073
[Abstract]
0 0 0 0
0 0 0 0
director
Footnotes
(A) MAT credit entitlement-Considered good : 2424150 MAT credit entitlement-Considered doubtful : 2390332 Less : Provision for
doubtful receivables : -2390332
(B) MAT credit entitlement-Considered good : 0 MAT credit entitlement-Considered doubtful : 0 Less : Provision for doubtful
receivables : 0

Loans and advances to related parties
Classification of loans and advances [Axis] Security deposits [Member]
[Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
[Abstract]
Loans and advances, gross 3,68,180 7,37,000 21,70,495 2,78,17,780
0 0 0 0
advances
Loans and advances 3,68,180 7,37,000 21,70,495 2,78,17,780
[Abstract]
0 0 0 0
0 0 0 0
director
93

Loans advances given other related Loans advances given suppliers
Classification of loans and advances [Axis]
parties [Member] [Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
[Abstract]
Loans and advances, gross (A) 21,70,495 (B) 2,78,17,780 (C) 3,09,96,068 (D) 5,60,12,379
0 0 0 0
advances
Loans and advances 21,70,495 2,78,17,780 3,09,96,068 5,60,12,379
[Abstract]
0 0 0 0
0 0 0 0
director
Footnotes
(A) Loans and advances to related parties : 2170495
(B) Loans and advances to related parties : 27817780
(C) Advances for supply of goods-Considered good : 30996068 Advances for supply of goods-Considered doubtful : 5694382 Less :
Provision for doubtful advances : -5694382
(D) Advances for supply of goods-Considered good : 56012379 Advances for supply of goods-Considered doubtful : 3144705 Less :
94

Loans advances given employees
Classification of loans and advances [Axis] Other loans and advances [Member]
[Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
[Abstract]
Loans and advances, gross 13,28,517 40,00,207 1,37,49,022 1,20,39,707
0 0 0 0
advances
Loans and advances 13,28,517 40,00,207 1,37,49,022 1,20,39,707
[Abstract]
0 0 0 0
0 0 0 0
director

Classification of loans and advances [Axis] Prepaid expenses [Member] Other taxes receivable [Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
[Abstract]
Loans and advances, gross 13,04,969 8,93,452 (A) 0 (B) 23,11,347
0 0 0 0
advances
[Abstract]
0 0 0 0
0 0 0 0
director
Footnotes
(A) Balances with statutory authorities-Considered good : 0 Balances with statutory authorities-Considered doubtful : 7894481 Less :
(B) Balances with statutory authorities-Considered good : 2311347 Balances with statutory authorities-Considered doubtful : 0 Less :
Provision for doubtful advances : 0
95

Classification of loans and advances [Axis] Export incentives receivables [Member]
[Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
[Abstract]
Loans and advances, gross 40,82,314 5,44,087 (A) 83,61,739 (B) 82,90,821
0 0 0 0
advances
Loans and advances 40,82,314 5,44,087 83,61,739 82,90,821
[Abstract]
0 0 0 0
0 0 0 0
director
Footnotes
(A) Other loans and advances : 7704918 Subsidy receivable : 656821
(B) Other loans and advances : 7634000 Subsidy receivable : 656821
Subclassification of trade receivables [Table] ..(1)

Classification of assets based on security
Classification of assets based on security [Axis] Unsecured considered good [Member]
[Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
[Abstract]
Trade receivables notes [Abstract]
Trade receivables [Abstract]
Subclassification of trade receivables
[Abstract]
Subclassification of trade receivables
[LineItems]
Breakup of trade receivables [Abstract]
Trade receivables, gross 25,99,45,977 11,06,76,430 (A) 25,99,45,977 (B) 11,06,76,430
Allowance for bad and doubtful debts 0 0
Total trade receivables 25,99,45,977 11,06,76,430 25,99,45,977 11,06,76,430
Details of trade receivables due by
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Details of trade receivables due by
firms or companies in which any director
is partner or director [Abstract]
Total trade receivables due by firms
or companies in which any director is 0 0
partner or director
96
Footnotes
(A) Less : Provision for doubtful receivables : -8497860 Other receivables : 238561477 Considered good - > 6 months Trade receivables
: 21384500 Considered doubtful - > 6 months Trade receivables : 8497860
(B) Less : Provision for doubtful receivables : 0 Other receivables : 78413401 Considered good - > 6 months Trade receivables :
32263029 Considered doubtful - > 6 months Trade receivables : 0
Classification of inventories [Table] ..(1)

Classification of inventories [Axis] Company total inventories [Member] Raw materials [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017
[Abstract]
Inventories notes [Abstract]
Inventories [Abstract]
Classification of inventories [Abstract]
Details of inventories [LineItems]
Inventories 72,28,56,327 48,42,11,600 (A) 33,44,07,468 (B) 17,07,36,608
(Valued at the lower (Valued at the lower (Valued at the lower (Valued at the lower
Mode of valuation of cost and net of cost and net of cost and net of cost and net
realisable value) realisable value) realisable value) realisable value)
Footnotes
(A) Raw materials (including packing material) # includes provision for excise duty Rs. Nil (2017: Rs. 1,402,144) : 334407468
(B) Raw materials (including packing material) # includes provision for excise duty Rs. Nil (2017: Rs. 1,402,144) : 170736608

Classification of inventories [Axis] Work-in-progress [Member] Finished goods [Member]
01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017
[Abstract]
Inventories 21,46,09,634 19,46,87,442 15,44,64,309 10,75,04,104
(Valued at the lower (Valued at the lower (Valued at the lower (Valued at the lower
Mode of valuation of cost and net of cost and net of cost and net of cost and net
realisable value) realisable value) realisable value) realisable value)

Classification of inventories [Axis] Stores and spares [Member]
01/04/2017 01/04/2016
to to
31/03/2018 31/03/2017
Subclassification and notes on liabilities and assets [Abstract]
Inventories 1,93,74,916 1,12,83,446
(Valued at the lower (Valued at the lower
Mode of valuation of cost and net of cost and net
realisable value) realisable value)
97

01/04/2017 01/04/2016
to to
31/03/2018 31/03/2017
Disclosure of subclassification and notes on liabilities and assets
explanatory [TextBlock]
Trade payables, long-term 0 0
Total other long-term liabilities 0 0
Current maturities of long-term debt 1,99,00,000 4,74,32,955
Interest accrued but not due on borrowings (A) 16,85,680 (B) 11,77,595
Interest accrued and due on borrowings (C) 0
(D) 25,44,369
Interest accrued but not due on public deposits 0 0
Interest accrued and due on public deposits 0 0
Debentures claimed but not paid 0 0
Unpaid dividends 0 0
Application money received for allotment of securities and
0 0
due for refund, principal
Unpaid matured deposits and interest accrued thereon 0 0
Unpaid matured debentures and interest accrued thereon 0 0
Withholding taxes payable (E) 16,32,718 (F) 16,74,765

Service tax payable 0 22,44,579
Excise duty payable 0 1,59,328
Taxes payable other tax (G) 30,13,264

(H) 0
Public deposit payable, current 0 0

Total other payables, current 46,45,982 40,78,672
Advance received from customers 1,59,01,482 5,20,29,874
Other advance received (I) 0

(J) 40,00,000
Accrued payroll liabilities, other (K) 3,41,49,345 (L) 1,66,77,261
Current liabilities portion of share application money pending
0 0
allotment
Other current liabilities, others (M) 3,21,01,466 (N) 4,26,14,566
Total other current liabilities 10,83,83,955 17,05,55,292
Other non-current assets, others (O) 41,98,396 (P) 10,14,573

Total other non-current assets 41,98,396 10,14,573
Bank deposits (due to Bank deposits (due to
mature after 12 months mature after 12 months
Nature of other non-current assets, others from the reporting date) from the reporting date)
(*) Interest accrued (*) Interest accrued
on fixed deposits on fixed deposits
Aggregate amount of trade receivables outstanding for period
2,98,82,360 3,22,63,029
exceeding six months
Disclosure of notes on cash and bank balances explanatory [TextBlock] [See below]
Fixed deposits with banks 0 0
Other balances with banks (Q) 3,79,97,309 (R) 1,97,91,105

Total balance with banks 3,79,97,309 1,97,91,105
Cash on hand 14,37,394 4,37,500
Total cash and cash equivalents 3,94,34,703 2,02,28,605
Total cash and bank balances 3,94,34,703 2,02,28,605
Total balances held with banks to extent held as
margin money or security against borrowings, 0 0
guarantees or other commitments
Bank deposits with more than twelve months maturity 0 0
Interest receivable (S) 98,07,815 (T) 2,69,93,043

Total other current assets 98,07,815 2,69,93,043
98
Footnotes
(A) Interest accrued but not due on borrowings from banks : 1685680
(B) Interest accrued but not due on borrowings from banks : 1177595
(C) Interest accrued and due on borrowings from banks : 0
(D) Interest accrued and due on borrowings from banks : 2544369
(E) Withholding tax : 1632718
(F) Withholding tax : 1674765
(G) Goods and service tax : 3013264
(H) Goods and service tax : 0
(I) Advances for capital asset : 0
(J) Advances for capital asset : 4000000
(K) Accrued employee liabilities - other current liabilities : 34149345
(L) Accrued employee liabilities - other current liabilities : 16677261
(M) Interest accrued but not due on debentures : 19030 Interest accrued and due on borrowings from related party : 0 Payable on account
of capital purchases : 3389065 Others : 3245795 Customer security deposits : 25447576 Other payables : 0
(N) Interest accrued but not due on debentures : 6746 Interest accrued and due on borrowings from related party : 12241521 Payable on
account of capital purchases : 1217819 Others : 1326480 Customer security deposits : 27801000 Other payables : 21000
(O) Bank deposits (due to mature after 12 months from the reporting date) (*) (*) - The above deposits are under lien with banks towards
loan given by bank/bank guarantees issued by bank. : 2446369 Interest accrued on fixed deposits : 1752027
(P) Bank deposits (due to mature after 12 months from the reporting date) (*) (*) - The above deposits are under lien with banks towards
loan given by bank/bank guarantees issued by bank. : 624509 Interest accrued on fixed deposits : 390064
(Q) Balances with banks on current accounts : 7791375 On deposit account with original maturity more than three months and remaining
maturity less than twelve months (*) (*) - The above deposits are under lien with banks towards loan given by bank/bank guarantees
issued by bank. : 30205934
(R) Balances with banks on current accounts : 614035 On deposit account with original maturity more than three months and remaining
maturity less than twelve months (*) (*) - The above deposits are under lien with banks towards loan given by bank/bank guarantees
issued by bank. : 19177070
(S) Interest accrued on loans and advances to others : 3309558 Interest accrued on fixed deposits with banks : 5290978 Interest accrued
on loans and advances to related parties (refer note 39) : 806827 Other Interest receivable : 400452
(T) Interest accrued on loans and advances to others : 1578130 Interest accrued on fixed deposits with banks : 1918270 Interest accrued
on loans and advances to related parties (refer note 39) : 23221864 Other Interest receivable : 274779
99
Disclosure of notes on cash and bank balances explanatory [Text Block]
18. Cash and bank balances
Cash and cash equivalents
Cash on hand 1,437,394 437,500
Balances with banks on current accounts 7,791,375 614,035
9,228,769 1,051,535
Other bank balances
On deposit account with original maturity more than three months and remaining maturity less than
30,205,934 19,177,070
twelve months (*)
30,205,934 19,177,070
39,434,703 20,228,605
(*) - The above deposits are under lien with banks towards loan given by bank/bank guarantees issued by bank.
Details of bank balances/deposits
Bank balances available on demand/deposits with original maturity of 3 months or less included under
7,791,375 614,035
'Cash and cash equivalent'.
Bank deposits due to mature within 12 months of the reporting date included under 'Other bank
30,205,934 19,177,070
balances'.
Bank deposits due to mature after 12 months of the reporting date included under 'Other non-current
2,446,369 624,509
assets' (also refer note 15)
40,443,678 20,415,614
100
[200700] Notes - Additional disclosures on balance sheet

01/04/2017 01/04/2016
to to
31/03/2018 31/03/2017
Disclosure of additional balance sheet notes explanatory [TextBlock] [See below]
Guarantees (A) 17,63,181 (B) 7,24,58,371
Other money for which company is contingently liable (C) 5,00,000 (D) 23,17,745
Total contingent liabilities 22,63,181 7,47,76,116
Estimated amount of contracts remaining to be executed on
(F) 0
capital account and not provided for (E) 1,48,26,750
Total commitments 1,48,26,750 0
Total contingent liabilities and commitments 1,70,89,931 7,47,76,116
Amount of dividends proposed to be distributed to equity shareholders 0 0
Amount of per share dividend proposed to be distributed to equity
[INR/shares] 0 [INR/shares] 0
shareholders
Deposits accepted or renewed during period 0 0
Deposits matured and claimed but not paid during period 0 0
Deposits matured and claimed but not paid 0 0
Deposits matured but not claimed 0 0
Interest on deposits accrued and due but not paid 0 0
Share application money received during year 0 0
Share application money paid during year 0 0
Amount of share application money received back during year 0 0
Amount of share application money repaid returned back during year 0 0
Number of person share application money paid during year [pure] 0 [pure] 0
Number of person share application money received during year [pure] 0 [pure] 0
Number of person share application money paid as at end of year [pure] 0 [pure] 0
Number of person share application money received as at end of year [pure] 0 [pure] 0
Whether maintenance of cost records by company has been
mandated under Companies (Cost Records and Audit) Rules, No No
2014
Unclaimed share application refund money 0 0
Unclaimed matured debentures 0 0
Unclaimed matured deposits 0 0
Interest unclaimed amount 0 0
Number of warrants converted into equity shares during period [pure] 0 [pure] 0
Number of warrants converted into preference shares during period [pure] 0 [pure] 0
Number of warrants converted into debentures during period [pure] 0 [pure] 0
Number of warrants issued during period (in foreign currency) [pure] 0 [pure] 0
Number of warrants issued during period (INR) [pure] 0 [pure] 0
Footnotes
(A) Bank guarantees to sales tax, customs & others : 1763181 Inter corporate guarantees (executed prior to 12 September 2013) (*) : 0
(B) Bank guarantees to sales tax, customs & others : 427181 Inter corporate guarantees (executed prior to 12 September 2013) (*) :
72031190
(C) Sales tax / entry tax matters : 0 Prevention of Food Adulteration : 500000
(D) Sales tax / entry tax matters : 1817745 Prevention of Food Adulteration : 500000
(E) Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) (*) - Restricted to
the maximum outstanding exposure as at Balance Sheet date. : 14826750
(F) Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) (*) - Restricted to
the maximum outstanding exposure as at Balance Sheet date. : 0
101
Disclosure of additional balance sheet notes explanatory [Text Block]
38 Compliance with Micro, Small and Medium Enterprises Development Act, 2006
The Company has not received any intimation from its suppliers regarding their status under the Micro, Small and Medium
Enterprises Development Act, 2006 and hence disclosure, relating to amounts unpaid as at the period end together with
interest paid / payable as required under the Act are not applicable.
40 Foreign currency exposures outstanding at the year end
(a) Outstanding derivative instruments :
The Company uses forward exchange contracts to hedge its exposure to movements in foreign exchange rates, however
there are no outstanding derivative instruments as at the Balance Sheet date.
(b) The following foreign currency receivables are not covered by derivative instruments at the Balance Sheet date:
Amount in foreign Equivalent amount in

Particulars Currency
currency Rs.
31-Mar-18 31-Mar-17 31-Mar-18 31-Mar-17
Receivables
USD 106,886 36,233 6,928,701 2,349,297
(asset)
GBP 102,908 9,344,756

- -
Euro 163,820 13,083,700

- -
43 Specified Bank Notes (SBN)
Details of Specified Bank Notes (SBN) held and transacted during the period 08 November 2016 to 30 December 2016 (in
accordance with the notification issued by Ministry of Corporate Affairs G.S.R. 308 (E ) dated 30th March 2017):
Particulars SBN* Other denomination notes Total
Closing cash in hand as on 08.11.2016 1,916,854 1,916,854
(+) Permitted / Non-permitted receipts 1,752,359 1,752,359
(-) Permitted / Non-permitted payments 3,170,306 3,170,306
102
(-) Amount deposited in Banks - -
Closing cash in hand as on 30.12.2016 498,907 498,907
* SBN are bank notes of denominations of the existing series (i.e. old notes) of the value of five hundred rupees and one
thousand rupees.
The Company had not maintained denomination wise vouchers / cashbook details in respect of dealings under above period,
hence the classification under SBN and other denomination was not been provided. The Management states that the cash
balance as on 8 November 2016 is all of legal tender and this balance was utilised for payment of wages.
44 Internal Financial Controls Over Financial Reporting
Management represents that considering the complexities involved, nature and size of the business, the Company is in the
process of further strengthening and establishing its internal financial control over financial reporting considering the essential
components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting
issued by the Institute of Chartered Accountants of India. The Company has engaged a third party to facilitate the
establishment of Internal Financial Controls and the recommendations are under testing and implementation.
[200800] Notes - Disclosure of accounting policies, changes in accounting policies and estimates
01/04/2017
to
31/03/2018
Disclosure of accounting policies, change in accounting policies and Textual information (49)
changes in estimates explanatory [TextBlock] [See below]
103
Disclosure of accounting policies, change in accounting policies and changes in estimates explanatory [Text Block]
1. Company overview
Nilon’s Enterprises Private Limited (“NEPL” or “the Company”) was incorporated as a ‘private limited Company’ on 7th January
1977,under the Companies Act 1956. The Company is engaged primarily in manufacturing and selling of food products
likeInstant Mixes, Papad, Pickles, Jam, tooty fruity, pasta, sauces etc. The Company has its registered office at Puneand
manufacturing facilitiesin Maharashtra at Utran, Musli and Damburniand Dalgaon (Assam).
The Hon'ble National Company Law Tribunal, Mumbai has approved the scheme of amalgamation of the Company with
Sanghavi Foods Private Limited (SFPL) and Sanskar Recipes Private Limited (SRPL), vide order dated 16 August 2018 with
effect from 1 April 2017. Accordingly, these financial statements have been prepared to give effect of the amalgamation with
effect from 1 April 2017. (alsorefer note 45)
2. Significant accounting policies
The accounting policies set out below have been applied consistently to the periods presented in these financial statements.
2.1 Basis of preparation of financial statements
These financial statements have been prepared and presented under the historical cost convention, on the accrual basis of
accounting, in accordance with the generally accepted accounting principles (GAAP) in India, including the Accounting Standards
specified under section 133 of the Companies Act 2013 ("the Act"). The financial statements are presented in Indian rupees and
rounded off to the nearest rupee.
2.2 Use of estimates
The preparation of financial statements in conformity with Generally Accepted Accounting Principles(GAAP) requires
management to make estimates and assumptions that affect the reported amount of assets, liabilities and the disclosure of
contingent liabilities on the date of the financial statements and the reported amounts of revenues and expenditure during the
reporting period. Actual results may differ from those estimates. Any difference between the actual results and estimates are
recognised in the period in which the results are known/materialize. Any revision to accounting estimates is recognised
prospectively in the current and future periods.
2.3 Going concern
As at 31 March 2018, the aggregate accumulated losses of the Company amount to Rs.967,321,348, (including losses amount to
Rs. 605,638,816 acquired on account of amalgamation) (2017: Rs. 405,821,562). Though the Companyhas aggregate
accumulated losses, the management believes that the Company will be able to continue operations on a going concern basis
and meet all its liabilities as they fall due for payment in the foreseeable future based on:
- Business strategies which will enable the Company to generate operating cash flows in the future.
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- Financial, operations and technical support from the shareholders of the Company.
2.3 Going concern (continued)
Accordingly, these financial statements do not include any adjustments regarding the recoverability and classification of the
carrying amount of assets or the amount and classification of liabilities that might result, should the Company be unable to
continue as a going concern.
2.4 Current-non-current classification
All assets and liabilities are classified into current and non-current.
Assets
An asset is classified as current when it satisfies any of the following criteria:
a) it is expected to be realised in, or is intended for sale or consumption in, the company’s normal operating cycle
b) it is held primarily for the purpose of being traded;
c) it is expected to be realised within 12 months after the reporting date; or
d) it is cash or cash equivalent unless it is restricted from being exchanged or used to settle a liability for at least 12 months
after the reporting date.
Current assets include current portion of non-current financial assets. All other assets are classified as non-current.
Liabilities
A liability is classified as current when it satisfies any of the following criteria:
105
a) it is expected to be settled in the Company’s normal operating cycle;
b) it is held primarily for the purpose of being traded;
c) it is expected to be settled within 12 months after the reporting date; or
d) the Company does not have an unconditional right to defer settlement of the liability for at least 12 months after the reporting
date. Terms of a liability that could, at the option of the counterparty, result in its settlement by the issue of equity instruments do
not affect its classification.
Current liabilities include current portion of non-current financial liabilities. All other liabilities are classified as non-current.
Operating cycle
Operating cycle is the time between the acquisition of assets for processing and their realisation in cash or cash equivalents.The
operating cycle of the Company is less than 12 months.
2.5 Property, plant and equipment
Property, plant and equipment are carried at cost of acquisition or construction less accumulated depreciation and/or
accumulated impairment loss, if any. The cost of an item of property, plant and equipment comprises its purchase price, including
import duties and other non-refundable taxes or levies and any directly attributable cost of bringing the asset to its working
condition for its intended use; any trade discount and rebates are deducted in arriving at the purchase price.
Subsequent expenditures related to an item of property, plant and equipment are added to its book value only if they increase the
future benefits from the existing asset beyond its previously assessed standard of performance.
Borrowing costs are interest and other costs incurred by the Company in connection with the borrowing of funds. Borrowing costs
directly attributable to acquisition or construction of those property, plant and equipment which necessarily take a substantial
period of time to get ready for their intended use are capitalized. Other borrowing costs are recognized as an expense in the
period in which they are incurred.
Property, plant and equipment under construction are disclosed as capital work-in-progress. Capital work-in-progress includes
the cost of property, plant and equipment that are not ready to use at the Balance Sheet date.
Additions to Property, plant and equipment individually costing Rs. 5,000 or less are depreciated fully in the year of acquisition.
106
Property, plant and equipment is eliminated from the financial statements on disposal or when no further benefit is expected from
its use and disposal.
Losses arising from retirement and gains or losses arising from disposal of property, plant and equipment which are carried at
cost are recognised in the Statement of Profit and Loss.
The cost of the day-to-day servicing of the item of property, plant and equipment are recognised in the Statement of Profit and
Loss as and when incurred. Cost of the day-to-day servicing are primarily the cost of labour, consumables and includes the cost
of the small parts of the property, plant and equipment. The Company recognises subsequent cost of replacing of the part of the
property, plant and equipment only when it is probable that future economic benefits associated with the item will flow to the
Company and the cost of the item can be measured reliably. The carrying amount of parts which are replaced is derecognised in
the Statement of Profit and Loss.
Depreciation
Depreciation is provided on a pro-rata basis i.e. from the date on which the asset is ready for use.
(i) Useful lives/ depreciation rates:
Freehold land is not depreciated.
Depreciation on cost of Property, plant and equipment is provided on straight line method at useful lives estimated by
management based on internal assessment, which are believed to best represent the period over which the property, plant and
equipment are expected to be used. Hence the useful lives for these Property, plant and equipment are different from the useful
lives as prescribed under Part C of Schedule II of the Companies Act 2013.
2.5 Property, plant and equipment (continued)
Category of Plant, Property and equipments Useful life Useful life prescribed under Schedule II in years
Factory building 28 30
Office building 58 60
Plant and equipment 3 – 20 5-15
Vehicles 8 – 10 6 – 10
Furniture and fittings 6-20 10
Computers 6 3
Intangible fixed assets and amortization
Intangible assets that are acquired by the Company are measured initially at cost. After initial recognition, an intangible asset is
carried at its cost less any accumulated amortization and any accumulated impairment loss. The useful lives of computer
software used by management is 7 years.
Subsequent expenditure is capitalized only when it increases the future economic benefits from the specific asset to which it
relates.
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2.6 Impairment of assets
The Company assesses at each Balance Sheet date whether there is any indication that an asset may be impaired. If any such
indication exists, the Company estimates the recoverable amount of the asset. If such recoverable amount of the asset or
recoverable amount of the cash generating unit to which the asset belongs is less than its carrying amount, the carrying amount
is reduced to its recoverable amount. The reduction is treated as an impairment loss and is recognised in the Statement of Profit
and Loss.
If at the Balance Sheet date there is an indication that a previously assessed impairment loss no longer exists, the recoverable
amount is reassessed and the asset is reflected at the recoverable amount subject to a maximum of depreciable historical cost.
2.7 Investments
Investments that are readily realizable and intended to be held for not more than a year from the date of the acquisition are
classified as current investments. All other investments are classified as long-term investments. However, that portion of long
term investments which is expected to be realised within 12 months after the reporting date is also presented under ‘Current
Assets’ as current portion of long term investments in consonance with the current/non-current classification scheme of revised
Schedule III to Companies Act, 2013.
Long-term investments are valued at cost less any other-than-temporary diminutionin value, determined separately for each
individual investment.
Current investments are valued at lower of cost and fair value. The comparison of cost and fair value is done separately in
respect of each category of investments.
Any reductions in the carrying amount and any reversals of such reductions are charged or credited to the Statement of Profit
and Loss.
2.8 Inventories
Inventories which comprises raw materials, packing material, work-in-progress, finished goods and stores and spares are carried
at the lower of cost and net realisable value.
Cost of inventories comprises cost of purchases, costs of conversion and other costs incurred in bringing the inventories to their
present location and condition.
In determining cost, first-in first out (FIFO) method is used. In the case of manufactured inventories and work in progress, fixed
production overheads are allocated on the basis of normal capacity of production facilities.
Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and
other costs necessary to make the sale.
The net realizable value of work-in-progress is determined with reference to the selling prices of related finished products. Raw
materials and other supplies held for use in the production of finished products are not written down below cost except in cases
where material prices have declined and it is estimated that the cost of the finished products will exceed the net realizable value.
The comparison of cost and net realisable value is made on an item-by-item basis.
2.9 Employee benefits
a) Short term employee benefits
108
Employee benefits payable wholly within twelve months of receiving employee services are classified as short-term employee benefits. These
109
benefits include salaries and wages and bonus. The undiscounted amount of short-term employee benefits to be paid in exchange for employee
services is recognised as an expense as the related service is rendered by employees.
b) Post employment benefits (defined benefit plans)
The Company’s gratuity benefit scheme is a defined benefit plan. The Company’s net obligation in respect of a defined benefit
plan is calculated by estimating the amount of future benefit that employees have earned in return for their service in the current
and prior periods; that benefit is discounted to determine its present value. Any unrecognised past service costs and the fair
value of any plan assets are deducted. The calculation of the Company’s obligation under the plan is performed annually by a
qualified actuary using the projected unit credit method.
c) Post employment benefits (defined benefit plans) (continued)
The Company recognises all actuarial gains and losses arising from defined benefit plans immediately in the Statement of Profit
and Loss. All expenses related to defined benefit plans are recognised in employee benefits expenses in Statement of Profit and
Loss.
d) Post employment benefits (defined contribution plans)
A defined contribution plan is a post-employment benefit plan under which an entity pays specified contributions to a separate
entity and has no obligation to pay any further amounts. The Company makes specified monthly contributions towards employee
provident fund to Government administered provident fund scheme which is a defined contribution plan. The Company’s
contribution is recognised as an expense in the Statement of Profit and Loss during the period in which the employee renders the
related service.Gratuity Liability is funded through a Group Gratuity Scheme with Life Insurance Corporation of India wherein
contributions are made and charged to revenue on annual basis.
e) Long term employee benefits
Long term employee benefits comprises compensated absences. These are measured based on an actuarial valuation carried
out by an independent actuary at each Balance Sheet date. Actuarial gains and losses and past services cost are recognised
immediately in the Statement of Profit and Loss.
2.10 Revenue recognition
a) Product sales
Revenue from sale of goods in the course of ordinary activities is recognised when property in the goods or all significant risks
and rewards of their ownership are transferred to the customer and no significant uncertainty exists either regarding the amount
of the consideration that will be derived from the sale of the goods or regarding its collection.The amount recognised as revenue
is exclusive of sales tax, value added taxes and is net of returns, trade discounts and quantity discounts.
b) Export incentives
Export incentives are recognised when the right to receive credit as per the terms of incentives is established in respect of the
exports made and when there is no significant uncertainty regarding the ultimate collection of the relevant export proceeds.
c) Interest income
Interest income is recognised on a time proportion basis taking into account the amount outstanding and the interest rate
applicable.
d) Other income
Other items of income are accounted as and when the right to receive income arises.
110
2.11 Taxation
Income-tax expense comprises current tax (i.e. amount of tax for the year determined in accordance with the income-tax law)
and deferred tax charge or credit (reflecting the tax effect of timing differences between accounting income and taxable income
for the year).
Current tax is measured at the amount expected to be paid to (recovered from) the taxation authorities, using the applicable tax
rates and tax laws. Deferred tax is recognised in respected of the timing differences between taxable income and accounting
income i.e. differences that originate in one period and are capable of reversal in one or more subsequent periods.
The deferred tax charge or credit and the corresponding deferred tax liabilities or assets are recognised using the tax rates that
have been enacted or substantively enacted by the Balance Sheet date. Deferred tax assets are recognised only to the extent
there is reasonable certainty that the asset can be realised in future; however, where there is unabsorbed depreciation or carried
forward loss under taxation laws, deferred tax assets are recognised only if there is a virtual certaintysupported by convincing
evidence that sufficient future taxable income will be available against which such deferred tax assets can be realised.
Deferred tax assets are reviewed as at each Balance Sheet date and written down or written-up to reflect the amount that is
reasonably/virtually certain (as the case may be) to be realised.
Minimum Alternate Tax (MAT) under the provisions of the Income Tax Act, 1961 is recognised as current tax in the Statement of
Profit and Loss. The credit available under the Act, in respect of MAT paid is recognised as asset only when and to the extent
there is convincing evidence that the Company will pay normal income tax during the period for which the MAT credit can be
carried forward for set- off against the normal tax liability. MAT credit recognised as an asset is reviewed at each Balance Sheet
date and written down to the extent the aforesaid convincing evidence no longer exists.
2.12 Foreign currency transactions and translations
Foreign exchange transactions are recorded using the rate of exchange on the date of the respective transactions. Exchange
differences arising on foreign exchange transactions settled during the year are recognised in the Statement of Profit and Loss of
the year.
Monetary assets and liabilities denominated in foreign currencies as at the Balance Sheet date are translated at the closing
exchange rates on that date and the resultant exchange differences are recognised in the Statement of Profit and Loss of the
year.
Derivative instruments are marked to market at the year-end rates and they will be measured at fair value and changes in fair
value are recognised in the statement of profit and loss as per Guidance Note on Accounting for Derivative Contracts issued by
the Institute of Chartered Accountants of India in June 2015.
Any profit or loss arising on cancellation or rollover of forward exchange contracts is recognized as income or expense during the
year when the cancellation/ rollover occurs.
2.13 Government grants and subsidies
Grants and subsidies from the government are recognised when there is reasonable assurance that the grant/ subsidy will be
received and all attaching conditions will be complied with.
When the grant or subsidy relates to an expense item, it is recognized as income over the periods necessary to match them on
systematic basis to the costs, which it is intended to compensate. Where the grant or subsidy relates to an asset, its value is
deducted in arriving at the carrying amount of the related asset. In case the asset cannot be distinguished, the grant/ subsidy is
accounted for as Capital Reserve.
Government grants of the nature of promoters’ contribution are credited to Capital Reserve and treated as a part of the
shareholders’ fund.
2.14 Provisions and contingencies
111
A provision is recognized in the Balance Sheet when the Company has a present obligation as a result of a past event that
probably requires an outflow of resources to settle the obligation, in respect of which a reliable estimate can be made. These are
reviewed at each Balance Sheet date and adjusted to reflect the current best estimates.
Contingencies
Provision in respect of loss contingencies relating to claims, litigations assessment, fines, penalties etc. are recognised when it is
probable that a liability has been incurred, and the amount can be estimated reliably.
2.15 Contingent liabilities and contingent assets
A contingent liability exists when there is a possible but no obligation, or a present obligation that may, but probably will not,
require an outflow of resources, or a present obligation whose amount cannot be estimated reliably. Contingent liabilities do not
warrant provisions, but are disclosed unless the possibility of outflow of resources is remote. Contingent assets are neither
recognised not disclosed in the financial statements. However, contingent assets are assessed continually and if it is virtually
certain that an inflow of economic benefit will arise, the asset and related income are recognised in the period in which the
change occurs.
2.16 Operating lease
Assets acquired under leases other than finance leases are classified as operating leases. The total lease rentals
(includingscheduled rental increases) in respect of an asset taken on operating lease are charged to the Statement of Profit and
Loss on astraight line basis over the lease term unless another systematic basis is more representative of the time pattern of the
benefit.
2.17 Earningsper share
The basic earnings per share is computed by dividing the net profit attributable to each class equity shareholders for the period
by the weighted average number of equity shares outstanding during the year.
The diluted earnings per share is computed by dividing the net profit attributable to each class of equity shareholders for the year
by the weighted average number of equity and equivalent potential dilutive equity shares outstanding during the year, except
where the result would be anti-dilutive.
2.18 Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand and short-term investments with an original maturity of three
months or less.
2.19 Accounting for amalgamation
The Company has adopted the “pooling of interest method” for accounting of amalgamation whereby all the assets and liabilities
including reserve of SFPL and SRPL are recorded in the books of the Company at the book values as recorded in the books of
SFPL and SRPL.
112
[201700] Notes - Government grants

01/04/2017 01/04/2016
to to
31/03/2018 31/03/2017
Disclosure of notes on government grants explanatory [TextBlock]
Capital subsidies or grants received from government authorities 0 0
Revenue subsidies or grants received from government authorities 0 0
[202300] Notes - Amalgamation
Disclosure of amalgamations [Table] ..(1)

Amalgamations [Axis] 1 2
01/04/2017 01/04/2017
to to
31/03/2018 31/03/2018
Disclosure of amalgamations [Abstract]
Disclosure of amalgamations [LineItems]
Sanghavi Foods Private Sanskar Recipes Private
Name of amalgamating company Limited Limited
Country of incorporation or residence of amalgamating company INDIA INDIA
CIN of amalgamating company U15136PN2005PTC151843 U15136PN2005PTC149390
Manufacturing and selling Manufacturing and selling
General nature of business of amalgamating company food products food products
Effective date of amalgamation for accounting purposes 01/01/2017 01/01/2017
Textual information (50) Textual information (51)
Method of accounting used to reflect amalgamation [See below] [See below]
Textual information (52) Textual information (53)
Description of particulars of scheme sanctioned under statute [See below] [See below]
Additional disclosures for amalgamations accounted under pooling of interest method
[Abstract]
2,430 equity shares of 83 equity shares of
transferee Company of face transferee Company of face
value of Rs. 1,000 each value of Rs 1,000 each fully
Description of shares issued fully paid up, for every paid up, for every 10,000
10,000 equity shares of face equity shares of face value
value of Rs. 1,000 each of Rs 100 each held in
held in SFPL and SRPL.

01/04/2017
to
31/03/2018
Disclosure of notes on amalgamations explanatory [TextBlock] [See below]
Method of accounting used to reflect amalgamation

Amalgamation meets all the conditions specified in Para 3(e) of the Accounting Standard 14 ('AS -14') on Accounting for Amalgamation
specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. Accordingly, the amalgamation is 'in the
nature of merger' and has been recorded under the 'pooling of interest' method.
113
Method of accounting used to reflect amalgamation

Amalgamation meets all the conditions specified in Para 3(e) of the Accounting Standard 14 ('AS -14') on Accounting for Amalgamation
specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. Accordingly, the amalgamation is 'in the
nature of merger' and has been recorded under the 'pooling of interest' method.
Description of particulars of scheme sanctioned under statute

The balances in General Reserve, Capital Reserve, Securities Premium account and Profit and Loss account of the transferor companies as on the
appointed date shall be transferred to the respective reserve balances in the transferee company in the same form as they appear in the financial
statements of the transferor companies. In other words, identity of reserves of the transferor company shall be preserved.
Description of particulars of scheme sanctioned under statute

The balances in General Reserve, Capital Reserve, Securities Premium account and Profit and Loss account of the transferor companies as on the
appointed date shall be transferred to the respective reserve balances in the transferee company in the same form as they appear in the financial
statements of the transferor companies. In other words, identity of reserves of the transferor company shall be preserved.
114
Disclosure of notes on amalgamations explanatory [Text Block]
45 Amalgamation
The Hon'ble National Company Law Tribunal, Mumbai has approved the scheme of amalgamation of the Company with
Sanghavi Foods Private Limited (SFPL) and Sanskar Recipes Private Limited (SRPL), vide order dated 16 August 2018 with
effect from 1 April 2017. Following are the major details for the Scheme:
Name of the transferor companies Sanghavi Foods Private Limited (SFPL) and
Sanskar Recipes Private Limited (SRPL)
General Nature of Business Manufacturing and selling food products
Effective date of amalgamation for accounting purposes 01-Apr-17
Method of accounting used to reflect the amalgamation Refer Note 'a' below
Particulars of Scheme Refer Note 'a' below
Description and number of shares issued Refer Note 'a' below
Percentage of each Company’s equity shares exchanged 100%
Treatment of difference between consideration and value of net assets acquired Refer Note 'a' below
a. Details of the scheme:
i) Amalgamation meets all the conditions specified in Para 3(e) of the Accounting Standard 14 ('AS -14') on Accounting for
Amalgamation specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. Accordingly,
the amalgamation is 'in the nature of merger' and has been recorded under the 'pooling of interest' method.
ii) With effect from the appointed date all the assets and liabilities including reserve if any of the transferor companies are
recorded in the books of the transferee company at the book values as recorded in the books of the transferor companies.
iii) The balances in General Reserve, Capital Reserve, Securities Premium account and Profit and Loss account of the transferor
companies as on the appointed date shall be transferred to the respective reserve balances in the transferee company in the
same form as they appear in the financial statements of the transferor companies. In other words, identity of reserves of the
transferor company shall be preserved.
iv) Any excess in the value of net assets and reserves to be vested in the transferee Company and the aggregate face value of
the new equity shares issued by the transferee Company shall be credited to “Capital Reserve Account". Accordingly, the
Company has credited capital reserve amounting to Rs. 44,536,000 in its books as at effective date.
v) In case of any difference in the accounting policy between the transferor companies and the transferee company, the impact of
the same till the appointed date will be quantified and adjusted in the profit and loss account of the transferee company to ensure
that the financial statements of the transferee company reflect the financial position on the basis of the consistent accounting
policy. There are no material differences between accounting policies adopted by the Companies.
vi) To the extent there are inter-corporate loans or balances between the transferor Companies and the transferee company, the
115
obligations in respect thereof shall come to an end and corresponding effect shall be given in the books of accounts and records
of the transferee company for the reduction of any assets or liabilities, as the case may be and there would be no accrual of
interest or any other charges in respect of such inter-company loans or balances with effect from the appointed date.
vii) The authorized share capital of the transferor Companies shall stand transferred to and combined with the authorized share
capital of the transferee Company with effect from the appointment date. Accordingly, the authorized share capital of the
transferee Company shall stand enhanced to Rs. 107,500,000 (107,500 shares of Rs. 1,000 each).
viii) The transferee Company shall issued and allot to each member of the transferor Companies whose name is recorded in the
register of the members thereof on the record date:
2,430 equity shares of transferee Company of face value of Rs. 1,000 each fully paid up, for every 10,000 equity shares of face
value of Rs. 1,000 each held in SFPL and
83 equity shares of transferee Company of face value of Rs 1,000 each fully paid up, for every 10,000 equity shares of face
value of Rs 100 each held in SRPL.
In case any shareholder’s holding of equity shares in SFPL and SRPL is such that the shareholder becomes entitled, pursuant to
the scheme, to a fraction of equity shares of the Company, the Company shall round off the said entitlement to the nearest
integer and allot equity shares accordingly.
ix) The transferee Company shall:
a. Issue and allot to series A compulsary convertible debentures (CCD) holders in transferor Companies, such number of new
series A CCD of the face value Rs. 100,000 each equivalent to the face value of series A CCD of Rs. 100,000 each held in the
transferee Companies. Such series A CCD shall be issued on the same terms and conditions as agreed under the Subscriptions
cum Shareholder Agreement (SSHA). Further, such series A CCD shall be convertible into equity shares of the Company on the
same terms as agreed by under the SSHA.
b Issue and allot to series B CCD holders in SFPL, such number of new Series B CCD of face value Rs. 137,000 each equivalent
to the face value of series B CCD of Rs. 26,500 each held in SFPL. Such Series B CCD shall be issued on the same terms and
conditions and shall be convertible into equity shares of NEPL on the same terms as applicable to existing Series B CCD issued
by the Company.
Assets SFPL SRPL Amount
Fixed assets 472,192,867 37,941,180 510,134,047
Long-term loans & advances 6,855,893 3,269,017 10,124,910
Other non-current assets 3,644,195 - 3,644,195
Inventories 83,628,510 27,108,892 110,737,402
Trade receivables 107,927,711 12,131,946 120,059,657
Cash & bank balances 4,042,162 2,655,835 6,697,997
Short-term loans & advances 11,687,297 86,128,091 97,815,388
Other current assets 1,980 15,483,512 15,485,492
Total assets (A) 689,980,615 184,718,473 874,699,088
116
Equity and liabilities
Capital reserve 28,943,270 27,723,488 56,666,758
Securities premium account 664,109,020 40,083,360 704,192,380
Deficit in the Statement of Profit and Loss -604,954,450 -684,365 -605,638,815
Long-term borrowings 299,895,500 49,900,000 349,795,500
Long-term provisions 4,946,911 301,950 5,248,861
Short-term borrowings 151,719,607 23,477,237 175,196,844
Trade payables 48,377,417 4,449,442 52,826,859
Other current liabilities 69,657,881 8,904,087 78,561,968
Short-term provisions 690,459 3,943,274 4,633,733
Total reserves and liabilities (B) 663,385,615 158,098,473 821,484,088
Net assets and reserves to be vested in NEPL (C = A - B) 26,595,000 26,620,000 53,215,000
Aggregate face value of new equity shares issued by NEPL (D) 6,469,000 2,210,000 8,679,000
Capital Reserve (C - D) 20,126,000 24,410,000 44,536,000
As mentioned above, the Hon'ble National Company Law Tribunal, Mumbai has approved the scheme of amalgamation of the Company with
Sanghavi Foods Private Limited (SFPL) and Sanskar Recipes Private Limited (SRPL), vide order dated 16 August 2018 with effect from 1 April
2017. Accordingly, the figures for the current year includes the annual figures of the transferor companies and as such are not comparable to the
previous years figures. Below are key comparative figures from Statement of Profit & Loss.
Revenue from operations 721,038,717 76,663,666 797,702,383
Profit After Tax -30,917,505 3,419,919 -27,497,586
117
[201200] Notes - Employee benefits
Disclosure of defined benefit plans [Table] ..(1)

Defined benefit plans [Axis] Domestic defined benefit plans [Member]
Defined benefit plans categories [Axis] Provident Fund
01/04/2017 01/04/2016
to to 31/03/2016
31/03/2018 31/03/2017
Disclosure of defined benefit plans [Abstract]
Disclosure of defined benefit plans [LineItems]
Reconciliation of changes in present value of defined benefit
obligation [Abstract]
Changes in defined benefit obligation, at present value
[Abstract]
Increase (decrease) through current service cost, defined
38,61,522 13,20,622
benefit obligation, at present value
Increase (decrease) through interest cost, defined benefit
12,06,839 4,40,349
obligation, at present value
Amalgamations, defined benefit obligation, at present value 69,56,201 0
Increase (decrease) through actuarial losses (gains),
-11,97,912 -38,44,818
defined benefit obligation, at present value
Decrease through benefits paid, defined benefit obligation,
8,66,533 4,04,027
at present value
Increase (decrease) through past service cost, defined
10,01,424 0
benefit obligation, at present value
Total changes in defined benefit obligation, at present value 1,33,57,365 52,01,762
Defined benefit obligation, at present value at end of period 2,45,56,975 1,11,99,610 59,97,848
Reconciliation of changes in fair value of plan assets [Abstract]
Changes in plan assets, at fair value [Abstract]
Increase (decrease) through actuarial gains (losses),
(A) -45 (B) -36
plan assets, at fair value
Amalgamations, plan assets, at fair value (C) 15,24,989 (D) 0
Increase (decrease) through expected return, plan
1,28,644 6,353
assets, at fair value
Decrease through benefits paid, plan assets, at fair value 5,699 262
Total changes in plan assets, at fair value 16,47,889 6,055
Plan assets, at fair value at end of period 17,30,955 83,066 77,011
Recognised assets and liabilities of defined benefit plans
[Abstract]
Recognised liabilities, defined benefit plan 2,45,56,975 1,11,99,610
Recognised assets, defined benefit plan 17,30,955 83,066
Net liability (asset) of defined benefit plans 2,28,26,020 1,11,16,544
Reconciliation of liability asset of defined benefit plans
[Abstract]
Defined benefit obligation, at present value 2,45,56,975 1,11,99,610 59,97,848
Plan assets, at fair value 17,30,955 83,066 77,011
Net liability (asset) of defined benefit plans 2,28,26,020 1,11,16,544
Actuarial assumption [Abstract]
Actuarial assumption of discount rates 7.30% 6.80%
Actuarial assumption of expected rates of return on plan
8.00% 82.50%
assets
Actuarial assumption of expected rates of salary increases 8.00% 7.00%
Experience adjustments on plan assets and plan liabilities
[Abstract]
Defined benefit obligation, at present value 2,45,56,975 1,11,99,610 59,97,848
Plan assets, at fair value 17,30,955 83,066 77,011
Net surplus (deficit) in plan -2,28,26,020 -1,11,16,544
118
Footnotes
(A) Mortality charges and taxes : -45
(B) Mortality charges and taxes : -36
(C) Assets assumed on account of amalgamation : 1524989
(D) Assets assumed on account of amalgamation : 0
01/04/2017
to
31/03/2018
Disclosure of employee benefits explanatory [TextBlock] [See below]
119
Disclosure of employee benefits explanatory [Text Block]
37 Disclosure as per Accounting Standard 15 ( Revised) : Employee Benefits
The following table sets out the status of the Gratuity plan as required under Accounting Standard 15 (Revised)
a) Statement showing changes in present value of obligation
Present value of obligations at the beginning of the year 11,199,610 5,997,848
Liabilities assumed on account of amalgamation 6,956,201 -
Interest cost 1,206,839 440,349
Past service cost 1,001,424 -
Current service cost 3,861,522 1,320,622
Benefits paid -866,533 -404,027
Actuarial (gain)/ loss on obligations 1,197,912 3,844,818
Present value of obligations as at the end of the year 24,556,975 11,199,610
b) Table showing changes in the fair value of plan assets
Fair value of plan assets at the beginning of year 83,066 77,011
Assets assumed on account of amalgamation 1,524,989 -
Expected return on plan assets 128,644 6,353
Mortality charges and taxes -45 -36
Actuarial gain / (loss) on plan assets -5,699 -262
Fair value of plan assets at the end of the year 1,730,955 83,066
c) Unfunded liability -22,826,020 -11,116,544
d) Actuarial gain / loss recognized
120
Actuarial gain/ (loss) for the year - obligation -1,197,912 -3,844,818
Actuarial (gain)/loss for the year - plan assets 5,699 262
Actuarial gain/(loss) recognized in the year -1,203,611 -3,845,080
31-Mar-18 31-Mar-17
e) Amounts to be recognized in the Balance Sheet
Present value of obligations as at the end of the year 24,556,975 11,199,610
Fair value of plan assets as at the end of the year 1,730,955 83,066
Unfunded liability -22,826,020 -11,116,544
Current Liability -5,127,528 -1,992,696
Non Current Liability -17,698,492 -9,123,848
Net liability recognized in the Balance Sheet -22,826,020 -11,116,544
f) Expenses recognized in the Statement of Profit and Loss
Current service cost 3,861,522 1,320,622
Past Service Cost 1,001,424

-
Interest cost 1,206,839 440,349
Expected return on plan assets -128,644 -6,353
Net actuarial (gain) / loss recognized 1,203,611 3,845,080
Expenses recognized in Statement of Profit and Loss 7,144,752 5,599,698
g) Actual return on plan assets
Expected return on plan assets 128,644 6,353
Actuarial gain / (loss) on plan assets -5,699 -262
Actual return on plan assets 122,945 6,091
121
h) Actuarial assumptions
7.30% -
Discount rate 6.80%
7.80%
Salary escalation 8.00% 7.00%
Expected return on plan assets 8.00% 8.25%
4 - 12
Expected average remaining working lives of employees (in years) 5.77
years
Note: The estimates of future salary increases take into account inflation, seniority, promotion
and other relevant factors on long term basis.
i) Composition of plan assets
Investments with insurer 97% 100%
j) Experience adjustment 31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Experience adjustments on obligations 1,434,331 2,490,528 -3,251,162 1,385,698 # 311,353
Experience adjustments on plan assets 1,678 69 2,856 -41,330 # 51,656
k) Defined contribution plans
The Company makes contributions, determined as a specified percentage of employee salaries, in respect of qualifying
employees towards Provident Fund, which is defined contribution plan. The Company has no other obligations other than to
make the specified contributions. The contributions are charged to Statement of Profit and Loss as they accrue. The
Company has recognised Rs. 20,624,023 (2017: Rs. 10,188,005) towards post employment defined contribution plans
comprising provident fund and Rs. 7,968,338 (2017: Rs. 2,936,222) towards other funds in the Statement of Profit and Loss.
[201300] Notes - Segments

01/04/2017
to
31/03/2018
Disclosure of enterprise's reportable segments explanatory [TextBlock] [See below]
122
Disclosure of enterprise's reportable segments explanatory [Text Block]
42 Segment Reporting
In accordance with the requirements of Accounting Standard 17, Segmental Reporting, the Company has determined its
business segment as manufacturing and selling of food products like Instant mixes, Papad, Pickles, Jam, sauces, candied
fruits etc. Accordingly, there are no other primary reportable segments.
Secondary segmental reporting is defined on the basis of the geographical location of the customers. The Company has
defined India and Rest of the World as the two geographical segments for secondary segmental reporting.
Geographical sales are segregated based on the location of the customer who is invoiced or in relation to which the sale is
otherwise recognized. Assets other than receivables used in the Company's business or liabilities contracted have not been
identified to any of the reportable segments, as these are used interchangeably between segments. All assets other than
receivables are located in India. Similarly, Capital expenditure is incurred towards fixed assets located in India.
Secondary segment (Geographical segment)
India Outside India Total
Particulars as on 31 March 2018
Revenue from operation 2,744,042,372 92,869,777 2,836,912,149
Carrying amount of segment assets (trade receivables) 230,588,820 29,357,157 259,945,977
Particulars as on 31 March 2017
Revenue from operation 2,105,589,279 16,288,084 2,121,877,363
Carrying amount of segment assets (trade receivables) 108,327,133 2,349,297 110,676,430
123
[201600] Notes - Related party
Disclosure of relationship and transactions between related parties [Table] ..(1)

Categories of related parties [Axis] 1 2
01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Disclosure of relationship and transactions between
related parties [Abstract]
related parties [LineItems]
SANGHAVI FOODS SANGHAVI FOODS
Name of related party PRIVATE LIMITED PRIVATE LIMITED
Deepak Sanghavi Deepak Sanghavi
Country of incorporation or residence of related

party
Permanent account number of related party ABLPS7194R ABLPS7194R
CIN of related party U15136PN2005PTC151843 U15136PN2005PTC151843
Enterprises which are Enterprises which are
owned, or have significant owned, or have significant
Key Management Key Management
Description of nature of related party relationship influence of or are partners influence of or are partners
Personnel Personnel
with Key management with Key management
personnel and their relatives personnel and their relatives
Description is Description is
Description is mentioned Description is mentioned
Description of nature of transactions with related mentioned along mentioned along
along with relevant line along with relevant line
party with relevant line with relevant line
item item
item item
Related party transactions [Abstract]
Purchases of goods related party transactions 1,41,28,836
Revenue from sale of goods related party
30,51,58,060
transactions
Interest paid during year related party
1
transactions
Reimbursement of expenses incurred on
behalf of company during year related 1,16,06,685
party transactions
Reimbursement of expenses incurred by
related party during year related party 1,40,11,928 61,92,000
transactions
Other related party transactions expense 6,74,07,681 96,74,182 12,85,26,873
Other related party transactions income 35,60,28,235 1
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 62 1,79,27,839 1,67,74,636
Amount written off during period in respect
0 0 0 0
of debts due from related parties
Amount written back during period in respect
0 0 0 0
of debts due to related parties
124

01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Name of related party Rajheev Agrawal Rajheev Agrawal Kirit Pathak Kirit Pathak
party
Permanent account number of related party ABKPA0871G ABKPA0871G ALSPP3384M ALSPP3384M
Relatives of Key Relatives of Key
Key Management Key Management
Description of nature of related party relationship Personnel Personnel
management management
personnel personnel
mentioned along with mentioned along with
relevant line item relevant line item
item item
related party during year related party 1,71,00,000
transactions
Other related party transactions expense 1,34,18,500
0 0 0 0
0 0 0 0

01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Name of related party Ritu Sanghavi Ritu Sanghavi Minakshi Agrawal Minakshi Agrawal
party
Permanent account number of related party ATIPS2192L ATIPS2192L ABKPA0872F ABKPA0872F
Relatives of Key Relatives of Key Relatives of Key Relatives of Key
Description of nature of related party relationship management management management management
personnel personnel personnel personnel
item item
Amounts payable related party transactions 0 2,40,876 25 25,092
0 0 0 0
0 0 0 0
125

01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Sanskar Recipes Sanskar Recipes Deepak Foods - Deepak Foods -
Name of related party Private Limited Private Limited Partnership firm Partnership firm
party
Permanent account number of related party AAJCS4459B AAJCS4459B AABFD7212L AABFD7212L
Enterprises which Enterprises which
Enterprises which are Enterprises which are
are owned, or have are owned, or have
owned, or have owned, or have
significant influence significant influence
significant influence significant influence
of or are partners of or are partners
Description of nature of related party relationship with Key
of or are partners with
with Key
of or are partners with
Key management Key management
management management
personnel and their personnel and their
personnel and their personnel and their
relatives relatives
relatives relatives
item item
Purchases of goods related party transactions 16,39,058
Revenue from sale of goods related party
2,25,60,440
transactions
Interest paid during year related party
872
transactions
Reimbursement of expenses incurred on
behalf of company during year related 168
party transactions
related party during year related party 7
transactions
Other related party transactions expense 63,38,275
Other related party transactions income 2,37,99,223
Amounts payable related party transactions 1 7,28,311
0 0 0 0
0 0 0 0
126

01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Name of related party Akhilesh Soni Akhilesh Soni Anil Jain Anil Jain
party
Permanent account number of related party AVGPS8790Q AVGPS8790Q ACCPJ7122Q ACCPJ7122Q
Key Management Key Management Key Management Key Management
Description of nature of related party relationship Personnel Personnel Personnel Personnel
item item
related party during year related party 1 3
transactions
0 0 0 0
0 0 0 0

01/04/2017 01/04/2016
to to
31/03/2018 31/03/2017
Disclosure of notes on related party explanatory [TextBlock] [See below]
Whether there are any related party transactions during year Yes Yes
Whether company is subsidiary company No No
127
Disclosure of notes on related party explanatory [Text Block]
39 Related party disclosures
a) Name of the related parties and nature of related party relationship where control exists (upto 31 March 2017):
Sr. No. Name Nature of relationship
1 Deepak Sanghavi Managing Director
2 Deepak & Company Shareholder
3 Trewellard Limited Shareholder
4 Kirit Pathak Chairman
b) Name of the related parties with whom transactions were carried out during the year and description of relationship :
Key management personnel :
Sr. No. Name Designation
2 Rajheev Agrawal Director / Chief Executive Officer
3 Anil Jain Chief Financial officer (from 1 June 2016)
4 Akhilesh Soni Company Secretary
Sr. No. Name Designation
128
2 Rajheev Agrawal Director / Chief Executive Officer
3 Anil Jain Chief Financial officer (from 1 June 2016)
4 Akhilesh Soni Company Secretary
Relatives of key management personnel :
Sr. No. Name Nature of relationship
1 Ritu Sanghavi Wife of Deepak Sanghavi
2 Minakshi Agrawal Wife of Rajheev Agrawal
Enterprises over which key management personnel and their relatives exercise significant influence :
1 Sanghavi Foods Private Limited (upto 31 March 2017)
2 Sanskar Recipes Private Limited (upto 31 March 2017)
3 Deepak Foods - Partnership firm
c) Disclosure of related party transactions:
Sr.
Nature of transaction / Name of the related party FY 2017-18 FY 2016-17
No.
Amount Amount
1 Purchase of goods (gross)
Sanghavi Foods Private Limited 14,128,836

-
Sanskar Recipes Private Limited 1,639,058

-
2 Sale of goods (gross)
129

-
Sanskar Recipes Private Limited

-
3 Sale of goods on behalf of the Company (gross)

-
Sanskar Recipes Private Limited

-
4 Sale of goods (gross) by the Company on behalf of

-
5 Rent expense (net of taxes)
Deepak Sanghavi 4,692,600 3,600,000
6 Miscellaneous expenses reimbursed to

-
Sanskar Recipes Private Limited 168,104

-
Sr.
Nature of transaction / Name of the related party FY 2017-18 FY 2016-17
No.
Amount Amount
7 Managerial remuneration *
Deepak Sanghavi 6,192,000

-
Rajheev Agrawal 17,100,000

-
Akhilesh Soni 1,092,960 1,042,893
Anil Jain 3,472,920 2,894,100
8 Reimbursement of miscellaneous expenses received
130
Sanskar Recipes Private Limited - 7,889,632
9 Reimbursement of miscellaneous expenses received

-
10 Prepaid Rent

-
11 Unsecured borrowings

-
12 Interest expense
Sanskar Recipes Private Limited 872,888

-

-
13 Payments made (including on behalf payments)

-

-
Deepak Sanghavi (includes repayment of Rs. Nil (2017: 53,500,000) related to

4,981,582 71,426,873
unsecured borrowings)
14 Payments received (including on behalf payments)

-

-
15 Shares issued
Rajheev Agrawal 291,000

-
131
16 Debentures issued
Rajheev Agrawal 13,127,500

-
* As gratuity and compensated absences are computed for all the employees in aggregate, the amounts relating to the Key Managerial personnel
cannot be individually identified.
d) Year end balances with related parties are set out below:
Sr.
Nature of transaction / relationship / major parties 31-Mar-17 31-Mar-17
No.
Amount Amount
1 Unsecured loans receivable

-
Deepak foods 728,311

-
2 Unsecured loans payable

-
3 Capital advances
Deepak Sanghavi 15,000,000 15,000,000
4 Prepaid expenses (Rent)
Deepak Sanghavi (includes advance 1,442,185

-
5 Rent payable
Deepak Sanghavi 288,982

-
6 Interest accrued on loans and advances
132
Deepak Sanghavi 742,827 742,827
Ritu Sanghavi 240,876 240,876
Minakshi Agrawal 25,092 25,092
7 Interest accrued and due on borrowings
Sanskar Receipes Private Limited 12,241,521

-
8 Guarantees / collaterals given (executed prior to 12 September 2013)

-
Sanskar Receipes Private Limited

- -
9 Guarantees / collaterals received (executed prior to 12 September 2013)
Sanghavi Foods Private Limited and Sanskar Recipes Private Limited (jointly
1,295,200,000
and several) -
[201400] Notes - Leases
Disclosure of minimum operating lease payments by lessee [Table] ..(1)

Later than one year and not later than
Maturity [Axis] Not later than one year [Member]
five years [Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Disclosure of finance lease and operating lease by
lessee [Abstract]
Disclosure of operating lease by lessee [Abstract]
Disclosure of minimum operating lease payments
by lessee [Abstract]
Disclosure of operating lease by lessee
[LineItems]
Minimum operating lease payments payable 55,82,044 0 83,52,739 0
133
Disclosure of minimum finance lease payments and present value by lessee [Table] ..(1)
Maturity [Axis] Aggregated time bands [Member] Not later than one year [Member]
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Disclosure of finance lease and operating lease by
lessee [Abstract]
Disclosure of finance lease by lessee [Abstract]
Disclosure of minimum finance lease payments
and present value by lessee [Abstract]
Disclosure of finance lease by lessee
[LineItems]
Minimum finance lease payments payable 0 6,86,070 0 6,86,070
Future finance charge on finance lease 0 6,53,250 0 6,53,250

01/04/2017 01/04/2016
to to
31/03/2018 31/03/2017
Disclosure of leases explanatory [TextBlock] [See below]
Whether any operating lease has been converted to financial lease or
No No
vice-versa
134
Disclosure of leases explanatory [Text Block]
41 Leases
a) Finance leases
The Company has taken vehicle under finance lease for the period of 3 years. Finance lease obligations are secured against
the respective assets taken on lease. Reconciliation between future minimum lease payments and their present values under
finance lease as at the yearend is as follows:
Particulars 31-Mar-18 31-Mar-17
Minimum lease payments
- not later than one year - 686,070
- later than one year and not later than five years - -
- later than five years - -
Total minimum lease payments - -
Amount representing future interest - 32,820
Present value of minimum lease payments
- not later than one year - 653,250
- later than one year and not later than five years - -
- later than five years - -
b) Operating leases
The Company has taken various residential/ commercial premises under operating leases. The leasing arrangements, which
in some instances are cancellable and non cancellable in others having 36 months and are usually renewable by mutual
consent and/ or mutually agreeable terms. Under these arrangements refundable interest-free deposits have been placed.
The lease rental expenses in respect to operating leases amount to Rs. Rs. 24,995,487 (2017: Rs. 17,766,018).
Total of future minimum lease payments for non-cancellable leases are as under:
31-Mar-18 31-Mar-17
Payable within one year 5,582,044 -
Payable between one and five years 8,352,739 -
135
Payable after five years - -
13,934,783 -
[300300] Notes - Earnings per share

01/04/2017 01/04/2016
to to
31/03/2018 31/03/2017
Disclosure of earnings per share explanatory [TextBlock] [See below]
Weighted average shares and adjusted weighted average shares [Abstract]
Basic weighted average shares (A) [shares] (B) [shares]

20,699 12,020
Adjustments of numerator to calculate basic earnings per share [Abstract]
Numerator to calculate basic earnings per share 4,12,40,485 4,72,70,546
Adjustments of numerator to calculate diluted earnings per share [Abstract]
Numerator to calculate diluted earnings per share 3,39,57,485 4,72,70,546
Footnotes
(A) Basic EPS before exceptional item and after tax : 1992.39
(B) Basic EPS before exceptional item and after tax : 3932.66
136
Disclosure of earnings per share explanatory [Text Block]
31 Earnings per share (EPS)
31-Mar-18 31-Mar-17
Basic earnings per share :
Net profit for the year attributable to equity shareholders before exceptional item and after tax A 41,240,485 47,270,546
Net profit for the year attributable to equity shareholders after exceptional item and tax B 33,957,485 47,270,546
Weighted average number of equity shares of face value of Rs. 1,000 each outstanding during
C 20,699 12,020
the year
Basic EPS before exceptional item and after tax (A/C) 1,992.39 3,932.66
Basic EPS after exceptional item and tax (B/C) 1,640.54 3,932.66
Diluted earnings per share :
The Company has issued 4,990 0.001% p.a. Compulsorily Convertible Debentures (CCD) (including 2597 0.001% CCD issued
on account of acquisition) of Rs. 100,000 each. These are compulsorily convertible at the end of 7 years from the date of
subscription or any time before 7th year. As per terms of issue, the said CCD's are compulsorily convertible into equity shares
of the Company at a floor value and cap value of Rs. 30,000 per share and Rs. 85,000 (2017: 72,000) per share respectively on
the date of conversion. (also refer note 5)
In the current year the Company has issued 3,650 Zero Coupon Compulsorily Convertible Debentures (CCD-B) of Rs. 137,000
each, these CCD-B will be converted into Equity Shares on 1 April 2020 in proportion to one Equity Share for each Debenture
held at a conversion price of Rs. 137,000. (also refer note 5)
Diluted earnings per share is calculated based on the floor value and cap value as follows :
Floor Cap
Particulars
valuation valuation
31-Mar-18 31-Mar-17 31-Mar-18 31-Mar-17
Net earnings for the year attributable to equity shareholders before exceptional
41,245,476 47,272,940 41,245,476 47,272,940
item and after tax (net of effect of dilutive potential equity shares)
Net earnings for the year attributable to equity shareholders after exceptional
33,962,476 47,272,940 33,962,476 47,272,940
item and tax (net of effect of dilutive potential equity shares)
Weighted average number of equity shares of face value of Rs. 1,000 each
40,986 20,000 29,925 15,345
outstanding during the year for calculation of diluted EPS
137
Diluted EPS before exceptional item and after tax 1,006.33 2,363.65 1,378.29 3,080.67
Diluted EPS after exceptional item and tax 828.64 2,363.65 1,134.92 3,080.67
[202800] Notes - Subsidiary information

01/04/2017
to
31/03/2018
Disclosure of subsidiary information explanatory [TextBlock]
Whether company has subsidiary companies No
Whether company has subsidiary companies which are yet to commence
No
operations
Whether company has subsidiary companies liquidated or sold during year No
[201900] Notes - Income taxes

01/04/2017
to
31/03/2018
Disclosure of notes on income taxes explanatory [TextBlock] [See below]
138
Disclosure of notes on income taxes explanatory [Text Block]

6. Deferred tax liabilities (net)
Deferred tax liability
Fixed assets: Impact of difference between tax depreciation and depreciation/amortisation charged in
163,631,719 76,995,298
the financial statements
163,631,719 76,995,298
Deferred tax asset
Arising out of timing differences in
Unabsorbed depreciation and business loss 150,832,002 72,849,760
Gratuity 7,053,240 2,494,691
Disallowances under Income Tax Act, 1961 5,746,477 1,650,847
Deferred tax liability (net) - -
Notes-
a) Deferred tax assets and deferred tax liabilities have been offset as they relate to the same governing taxation laws.
b) Accounting Standard Interpretation (ASI) 9 states that where an enterprise has unabsorbed depreciation or carry forward
losses under tax laws, deferred tax assets should be recognised only to the extent that there is virtual certainty supported by
convincing evidence that sufficient future taxable income will be available against which such deferred tax asset can be realised.
The Company has recorded the cumulative deferred tax liability as at 31 March 2018 aggregating to Rs. 163,631,719 and
recognised deferred tax asset on unabsorbed depreciation and carried forward business losses on the basis of prudence, only to
the extent of cumulative deferred tax liability as at 31 March 2018.
[202400] Notes - Investments in associates

01/04/2017
to
31/03/2018
Disclosure of notes on investment in associates explanatory [TextBlock]
Whether company has invested in associates No
Whether company has associates which are yet to commence operations No
139
[202500] Notes - Financial reporting of interests in joint ventures

01/04/2017
to
31/03/2018
Disclosure of notes on interests in joint ventures explanatory [TextBlock]
Whether company has invested in joint ventures No
Whether company has joint ventures which are yet to commence operations No
Whether company has joint ventures liquidated or sold during year No
[202100] Notes - Other provisions, contingent liabilities and contingent assets

01/04/2017
to
31/03/2018
Disclosure of notes on other provisions, contingent liabilities and Textual information (61)
contingent assets explanatory [TextBlock] [See below]
140
Disclosure of notes on other provisions, contingent liabilities and contingent assets explanatory [Text Block]
31-Mar-18 31-Mar-17
32 Contingent liabilities and commitments
Contingent Liabilities
(a) Sales tax / entry tax matters - 1,817,745
(b) Prevention of Food Adulteration 500,000 500,000
(c) Bank guarantees to sales tax, customs & others 1,763,181 427,181
(d) Inter corporate guarantees (executed prior to 12 September 2013) (*) - 72,031,190
Commitments
Estimated amount of contracts remaining to be executed on capital account and not provided for (net
14,826,750 -
of advances)
Operating lease commitments (refer note 41)
17,089,931 74,776,116
(*) - Restricted to the maximum outstanding exposure as at Balance Sheet date.
141
[202700] Notes - Cash flow statements

01/04/2017 01/04/2016
to to 31/03/2016
31/03/2018 31/03/2017
Disclosure of cash flow statement explanatory [TextBlock]
Cash and cash equivalents if different from balance sheet [Abstract]
Cash and cash equivalents cash flow statement 92,28,769 10,51,535
(A) 20,30,737
Other differences to cash and cash equivalents in statement of cash
-3,02,05,934 -1,91,77,070
flows
Total cash and cash equivalents 3,94,34,703 2,02,28,605
Income taxes paid (refund) [Abstract]
Income taxes paid (refund), classified as operating activities 11,942 7,84,378
Total income taxes paid (refund) 11,942 7,84,378
Footnotes
(A) Cash and cash equivalents at beginning of the year : 2030737 Cash balances acquired on account of amalgamation (refer note 45) : 0
142
[100200] Statement of profit and loss

01/04/2017 01/04/2016
to to
31/03/2018 31/03/2017
Statement of profit and loss [Abstract]
Disclosure of revenue from operations [Abstract]
Disclosure of revenue from operations for other than finance company
[Abstract]
Revenue from sale of products 283,89,85,587 214,78,01,561
Revenue from sale of services 0 0
Other operating revenues 64,45,363 21,48,665
Excise duty 85,18,801 2,80,72,863
Total revenue from operations other than finance company 283,69,12,149 212,18,77,363
Total revenue from operations 283,69,12,149 212,18,77,363
Other income 1,28,06,317 4,00,43,750
Total revenue 284,97,18,466 216,19,21,113
Expenses [Abstract]
Cost of materials consumed 144,85,76,463 101,03,15,775
Purchases of stock-in-trade 2,52,89,824 5,66,15,361
Changes in inventories of finished goods, work-in-progress and
86,66,113 6,63,40,344
stock-in-trade
Employee benefit expense 41,91,96,861 23,39,97,146
Finance costs 10,15,31,916 11,19,00,407
Depreciation, depletion and amortisation expense [Abstract]
Depreciation expense 8,22,91,038 4,46,97,832
Amortisation expense 25,65,190 24,61,728
Total depreciation, depletion and amortisation expense 8,48,56,228 4,71,59,560
CSR expenditure 0 0
Other expenses (A) 71,79,70,244 (B) 58,83,21,974

Total expenses 280,60,87,649 211,46,50,567
Total profit before prior period items, exceptional items, extraordinary
4,36,30,817 4,72,70,546
items and tax
Exceptional items before tax -72,83,000 0
Total profit before extraordinary items and tax 3,63,47,817 4,72,70,546
Total profit before tax 3,63,47,817 4,72,70,546
Tax expense [Abstract]
Current tax 23,90,332 0
Total tax expense 23,90,332 0
Total profit (loss) for period from continuing operations 3,39,57,485 4,72,70,546
Total profit (loss) for period before minority interest 3,39,57,485 4,72,70,546
Total profit (loss) for period 3,39,57,485 4,72,70,546
Earnings per equity share [Abstract]
Basic earning per equity share [INR/shares] 1,640.54 [INR/shares] 3,932.66
Diluted earnings per equity share (C) [INR/shares] (D) [INR/shares]

828.64 2,363.65
Basic earning per equity share before extraordinary items [INR/shares] 1,992.39 [INR/shares] 3,932.66
Diluted earnings per equity share before extraordinary items (E) [INR/shares] (F) [INR/shares]
1,006.33 2,363.65
Footnotes
(A) Operating and other expenses : 717970244
(B) Operating and other expenses : 588321974
(C) 828.64 - 1,134.92
(D) 2,363.65 - 3,080.67
(E) 1,006.33 - 1,378.29
(F) 2,363.65 - 3,080.67
143
[300500] Notes - Subclassification and notes on income and expenses

01/04/2017 01/04/2016
to to
31/03/2018 31/03/2017
Subclassification and notes on income and expense explanatory [TextBlock] [See below]
Disclosure of revenue from sale of products [Abstract]
Disclosure of revenue from sale of products explanatory [TextBlock] [See below]
Revenue from sale of products [Abstract]
Revenue from sale of products, gross (A) 283,89,85,587 (B) 214,78,01,561
Total revenue from sale of products 283,89,85,587 214,78,01,561
Disclosure of revenue from sale of services [Abstract]
Revenue from sale of services [Abstract]
Total revenue from sale of services 0 0
Disclosure of other operating revenues [Abstract]
Other operating revenues [Abstract]
Miscellaneous other operating revenues (C) 64,45,363 (D) 21,48,665
Total other operating revenues 64,45,363 21,48,665
Disclosure of other income [Abstract]
Interest income [Abstract]
Total interest income 0 0
Dividend income [Abstract]
Total dividend income 0 0
Other non-operating income [Abstract]
Net gain/loss on foreign currency fluctuations treated as other
(F) 0
income (E) 9,97,079
Surplus on disposal, discard, demolishment and destruction of
(H) 0
depreciable tangible asset (G) 23,50,509
Liabilities written off (I) -20,20,863 (J) -1,59,67,658

Miscellaneous other non-operating income (K) 74,37,866 (L) 2,40,76,092
Total other non-operating income 1,28,06,317 4,00,43,750
Total other income 1,28,06,317 4,00,43,750
Disclosure of finance cost [Abstract]
Interest expense [Abstract]
Interest expense long-term loans [Abstract]
Interest expense long-term loans, others (M) 4,991 (N) 2,394
Total interest expense long-term loans 4,991 2,394
Other interest charges (O) 10,16,167 (P) 87,28,881

Total interest expense 10,21,158 87,31,275
Other borrowing costs (Q) 10,05,10,758 (R) 10,31,69,132

Total finance costs 10,15,31,916 11,19,00,407
Employee benefit expense [Abstract]
Salaries and wages 38,00,10,239 21,91,01,692
Managerial remuneration [Abstract]
Remuneration to directors [Abstract]
Total remuneration to directors 0 0
Total managerial remuneration 0 0
Contribution to provident and other funds [Abstract]
Contribution to provident and other funds for others 3,59,12,278 1,31,24,227
Total contribution to provident and other funds 3,59,12,278 1,31,24,227
Staff welfare expense 32,74,344 17,71,227
Total employee benefit expense 41,91,96,861 23,39,97,146
Breakup of other expenses [Abstract]
Consumption of stores and spare parts 5,30,54,770 2,65,16,056
Power and fuel 7,19,93,956 3,87,22,633
144
Rent (S) 2,49,95,487 (T) 1,77,66,018

Repairs to building 29,76,457 41,00,227
Repairs to machinery 97,23,423 23,78,774
Insurance 42,98,717 17,27,118
Rates and taxes excluding taxes on income [Abstract]
Central excise duty (U) -14,02,144 (V) 5,60,266
Other cess taxes (W) 92,60,711 (X) 4,50,10,489
Total rates and taxes excluding taxes on income 78,58,567 4,55,70,755
Telephone postage 5,85,96,999 4,40,42,576
Legal professional charges 1,38,34,278 1,02,60,976
Directors sitting fees 0 0
Advertising promotional expenses (Y) 17,87,37,220 (Z) 13,73,59,861

Cost repairs maintenance other assets 80,30,612 70,88,974
Provision bad doubtful debts created 0 0
Provision bad doubtful loans advances created 0 0
Write-off assets [Abstract]
Miscellaneous expenditure written off [Abstract]
Total miscellaneous expenditure written off 0 0
Bad debts written off 31,87,965 49,62,485
Bad debts advances written off 0 0
Total write-off assets 31,87,965 49,62,485
Loss on disposal of intangible asset 0 0
Loss on disposal, discard, demolishment and destruction of depreciable
0 0
tangible asset
Payments to auditor [Abstract]
Payment for audit services 24,50,000 13,50,000
Payment for other services (AA) 8,85,000 (AB) 4,30,000

Payment for reimbursement of expenses 2,34,873 1,80,126
Total payments to auditor 35,69,873 19,60,126
Miscellaneous expenses (AC) 27,71,11,920 (AD) 24,58,65,395

Total other expenses (AE) 71,79,70,244 (AF) 58,83,21,974
Current tax [Abstract]
MAT credit recognised during year (AG) -23,90,332 (AH) 0
Total current tax 23,90,332 0
145
Footnotes
(A) Finished goods : 2810200066 Traded goods : 28785521
(B) Finished goods : 2058188035 Traded goods : 89613526
(C) Export incentives : 5773308 Subsidy income : 672055
(D) Export incentives : 1650743 Subsidy income : 497922
(E) Foreign exchange fluctuation gain (net) : 997079
(F) Foreign exchange fluctuation gain (net) : 0
(G) Profit on sale of fixed asset : 2350509
(H) Profit on sale of fixed asset : 0
(I) Liabilities written back to the extent no longer required : 2020863
(J) Liabilities written back to the extent no longer required : 15967658
(K) Loans and advances to related parties : 1629460 Others : 543366 Provision for doubtful advances written back : 1304155 Other
non-operating income : 1915335 Fixed deposits : 2045550
(L) Loans and advances to related parties : 15590058 Others : 644379 Provision for doubtful advances written back : 4905326 Other
non-operating income : 1594532 Fixed deposits : 1341797
(M) On compulsory convertible debentures : 4991
(N) On compulsory convertible debentures : 2394
(O) On loans from related party : 1016167
(P) On loans from related party : 8728881
(Q) Other borrowing cost : 20743854 On borrowings from others : 1950533 On borrowings from banks : 77816371
(R) Other borrowing cost : 3545139 On borrowings from others : 8725613 On borrowings from banks : 90898380
(S) Rent (also refer note 41) : 24995487
(T) Rent (also refer note 41) : 17766018
(U) Excise duty related to increase in (decrease) / inventory of finished goods : -1402144
(V) Excise duty related to increase in (decrease) / inventory of finished goods : 560266
(W) Rates and taxes # (# Includes Rs. NIL (2017 : 5,519,300) related to earlier years.) : 9260711
(X) Rates and taxes # (# Includes Rs. NIL (2017 : 5,519,300) related to earlier years.) : 45010489
(Y) Marketing expenses : 145456510
(Z) Marketing expenses : 124900632
(AA) Limited Review : 750000 Certification : 135000
(AB) Limited Review : 400000 Certification : 30000
(AC) Processing charges : 31716853 Distribution expenses : 186272392 Miscellaneous expenses : 27200001 Provision for doubtful
advances/debts : 16122841 Loans and advances written off : 1701091 Brokerage and commission : 13898742 Foreign exchange
fluctuation gain (net) : 0 Provision for diminution in value of non current investment : 200000
(AD) Processing charges : 19838247 Distribution expenses : 158720751 Miscellaneous expenses : 17210057 Provision for doubtful
advances/debts : 3144705 Loans and advances written off : 4905326 Brokerage and commission : 41910923 Foreign exchange
fluctuation gain (net) : 135386 Provision for diminution in value of non current investment : 0
(AE) Operating and other expenses : 717970244
(AF) Operating and other expenses : 588321974
(AG) Provision for unutilised MAT credit entitled : 2390332
(AH) Provision for unutilised MAT credit entitled : 0
146
Subclassification and notes on income and expense explanatory [Text Block]
23. Cost of material consumed
Raw material and packing material consumed
Inventory of materials at the beginning of the year 170,736,608 194,042,591
Acquisition on account of amalgamation (refer note 45) 30,812,041 -
Purchases 1,581,435,282 987,009,792
Inventory of materials at the end of the year 334,407,468 170,736,608
1,448,576,463 1,010,315,775
Break-up of raw materials and packing material consumed
Fruits and vegetables 222,723,660 201,679,626
Spices 116,048,008 92,888,925
Red dry chilli 99,179,202 80,301,151
Oil 68,689,275 49,446,337
Maida 113,366,638 42,323,392
Turmeric 72,211,257 27,009,534
Stabilizer 39,727,659 36,613,113
Sugar 196,075,139 35,201,202
Cereals 13,235,617 16,989,331
Skimmed milk powder 16,073,405 18,042,281
Tamarind 12,284,616 8,826,693
Salt 13,718,443 10,554,310
Ghee 4,935,389 5,208,916
Soya Chunk 55,806,259 55,736,276
Others 8,216,858 3,631,820
Packing material 396,285,038 325,862,868
1,448,576,463 1,010,315,775
147
Break-up of purchases of raw materials and packing material (including acquisition on account of amalgamation)
Spices 139,813,842 76,788,122
Red dry chilli 109,830,218 44,449,265
Oil 73,955,926 49,025,635
Maida 118,062,793 41,580,717
Turmeric 123,936,553 25,713,784
Stabilizer 43,744,221 36,942,908
Sugar 200,087,035 35,980,991
Cereals 22,992,987 15,807,598
Tamarind 5,052,230 13,531,726
Salt 14,136,748 10,096,266
Ghee 4,411,966 5,800,456
Soya Chunk 59,605,745 57,906,840
Others 9,171,935 1,935,305
1,612,247,323 987,009,792
Break-up of raw materials inventory
Spices 41,803,461 18,037,627
Red dry chilli 37,178,025 26,527,009
Oil 9,594,345 4,327,694
Maida 5,404,724 708,569
Turmeric 53,466,917 1,741,621
Stabilizer 10,219,854 6,203,292
Sugar 5,595,687 1,583,791
Cereals 12,140,746 2,383,376
148
Tamarind 3,064,361 10,296,747
Salt 966,984 548,679
Ghee 318,426 841,849
Soya Chunk 5,970,050 2,170,564
Others 1,126,742 171,665
334,407,468 170,736,608
31-Mar-18 31-Mar-17
24. Purchase of stock in trade
Rusk 22,948,095 29,797,925
Heeng 1,378,737 2,408,126
Poha 464,550 1,956,488
Ghee - 474,770
Sabudana - 20,530,678
Others 498,442 1,447,374
25,289,824 56,615,361
25. Changes in inventories of finished goods, traded goods and work-in-progress
31-Mar-18
Opening Acquisition on account of amalgamation (refer Closing (Increase)/ decrease in

inventory note 45) inventory inventory
A. Finished
goods
Pickle 44,699,807 2,815,247 37,607,384 9,907,670
Vermicelli 19,608,881 8,279,268 28,205,996 -317,847
Spices 13,534,049 - 38,195,715 -24,661,666
Soya chunk 6,495,600 - 7,852,803 -1,357,203
Cooking Paste 6,152,068 - 7,561,220 -1,409,152
149
Ketchup and 4,560,500 2,477,869 6,871,461 166,908

sauce
Instant Mix 4,483,374 - 4,582,815 -99,441
Chutney 3,013,146 - 2,585,167 427,979
Jam 2,580,673 - 1,901,588 679,085
Papad 2,376,006 - 2,741,373 -365,367
Candied fruit - 20,736,244 13,598,153 7,138,091
Oil - - 2,760,634 -2,760,634
107,504,104 34,308,628 154,464,309 -12,651,577
B. Traded goods
Soya Chunk - - - -
- - -
C.
Work-in-progress
Cooking paste 49,287,857 - 43,446,371 5,841,486
Mango 48,559,855 18,220,992 39,432,368 27,348,479
Spices 23,758,106 - 25,064,046 -1,305,940
Chilli in brine 23,549,484 - 14,650,384 8,899,100
Lime in brine 19,795,385 - 14,442,393 5,352,992
Carrot in brine 15,820,824 1,748,606 22,307,924 -4,738,494
Mix in brine 7,320,964 - 4,314,192 3,006,772
Red stuff chilli 4,258,413 - 10,531,700 -6,273,287
Vermiceilli 1,004,449 - 5,402,399 -4,397,950
Pulp 265,157 - 275,367 -10,210
Papaya in brine - 9,933,168 19,433,755 -9,500,587
Syrup - 2,627,179 8,119,544 -5,492,365
150
Murabba - 2,845,106 1,365,067 1,480,039
Others 1,066,948 5,864,831 5,824,124 1,107,655
194,687,442 41,239,882 214,609,634 21,317,690
302,191,546 75,548,510 369,073,943 8,666,113
31-Mar-17
Opening inventory Closing inventory (Increase)/ decrease in inventory
A. Finished goods
Pickle 57,202,712 44,699,807 12,502,905
Vermicelli 35,773,648 19,608,881 16,164,767
Spices 30,414,816 13,534,049 16,880,767
Soya chunk - 6,495,600 -6,495,600
Cooking Paste 11,267,869 6,152,068 5,115,801
Ketchup and sauce 6,660,007 4,560,500 2,099,507
Instant Mix 7,113,858 4,483,374 2,630,484
Chutney 5,086,701 3,013,146 2,073,555
Jam 3,018,086 2,580,673 437,413
Papad 2,643,566 2,376,006 267,560
Candied fruit - - -
Oil - - -
159,181,263 107,504,104 51,677,159
B. Traded goods
Soya Chunk 1,494,521 - 1,494,521
1,494,521 - 1,494,521
151
C. Work-in-progress
Cooking paste 27,192,911 49,287,857 -22,094,946
Mango 66,426,227 48,559,855 17,866,372
Spices 27,828,911 23,758,106 4,070,805
Chilli in brine 21,724,668 23,549,484 -1,824,816
Lime in brine 22,745,455 19,795,385 2,950,070
Carrot in brine 19,317,061 15,820,824 3,496,237
Mix in brine 5,598,954 7,320,964 -1,722,010
Red stuff chilli 9,081,933 4,258,413 4,823,520
Vermiceilli 2,833,415 1,004,449 1,828,966
Pulp 939,996 265,157 674,839
Papaya in brine - - -
Syrup - - -
Murabba - - -
Others 4,166,575 1,066,948 3,099,627
207,856,106 194,687,442 13,168,664
368,531,890 302,191,546 66,340,344
152
Disclosure of revenue from sale of products explanatory [Text Block]
31-Mar-18 31-Mar-17
21. Revenue from operations
Sale of products
Finished goods 2,810,200,066 2,058,188,035
Traded goods 28,785,521 89,613,526
Sale of products (gross) 2,838,985,587 2,147,801,561
Less : Excise duty 8,518,801 28,072,863
Sale of products (net) 2,830,466,786 2,119,728,698
Other operating revenue
Export incentives 5,773,308 1,650,743
Subsidy income 672,055 497,922
6,445,363 2,148,665
2,836,912,149 2,121,877,363
Breakup of revenue from sale of products (net of excise duty)
Manufactured goods
Pickles 954,486,733 931,286,236
Candied fruit 440,197,283 -
Spices 356,475,378 200,622,081
Cooking Paste 276,682,852 365,523,125
Vermicelli 238,796,742 100,096,906
Soya chunk 133,036,575 109,829,665
Jams, Ketchups and chutney 123,211,371 114,478,961
Sauces 91,361,156 52,242,501
Instant Mixes 81,361,729 86,192,328
153
Papad 37,594,540 31,521,016
Semi-finished Goods 36,286,125 38,322,353
Edible Oil 32,190,780 -
2,801,681,265 2,030,115,172
Traded goods
Rusk 26,529,776 50,923,329
Sabudana - 27,596,928
Heeng 1,079,681 4,477,000
Pohe 561,325 2,802,975
Ghee - 618,478
Turmeric - 401,000
Others 614,739 2,793,816
28,785,521 89,613,526
22. Other income
Interest income on:
Loans and advances to related parties 1,629,460 15,590,058
Fixed deposits 2,045,550 1,341,797
Others 543,366 644,379
Profit on sale of fixed asset 2,350,509 -
Foreign exchange fluctuation gain (net) 997,079 -
Liabilities written back to the extent no longer required 2,020,863 15,967,658
Provision for doubtful advances written back 1,304,155 4,905,326
Other non-operating income 1,915,335 1,594,532
12,806,317 40,043,750
154
[300600] Notes - Additional information statement of profit and loss
Details of raw materials, spare parts and components consumed [Table] ..(1)
Raw materials spare parts and
Details of raw materials, spare parts and components consumed [Axis] Raw materials consumed [Member]
components consumed [Member]
Subclassification of raw materials, spare parts and components
Imported and indigenous [Member] Imported and indigenous [Member]
consumed [Axis]
01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017
Additional information on profit and loss account
[Abstract]
Details of raw materials, spare parts and components
consumed [Abstract]
Details of raw materials, spare parts and
components consumed [LineItems]
Value consumed 150,16,31,233 103,68,31,831 144,85,76,463 101,03,15,775
Percentage of consumption 0.00% 0.00% 100.00% 100.00%
Details of raw materials, spare parts and components consumed [Axis] Raw materials consumed [Member]
Imported [Member] Indigenous [Member]
consumed [Axis]
01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017
[Abstract]
consumed [Abstract]
Value consumed 144,85,53,908 101,03,15,775 22,555 0
Details of raw materials, spare parts and components consumed [Axis] Spare parts consumed [Member]
Imported and indigenous [Member] Imported [Member]
consumed [Axis]
01/04/2017 01/04/2016 01/04/2017 01/04/2016
to to to to
31/03/2018 31/03/2017 31/03/2018 31/03/2017
[Abstract]
consumed [Abstract]
Value consumed 5,30,54,770 2,65,16,056 44,07,971 3,85,228
155
Details of raw materials, spare parts and components consumed [Axis] Spare parts consumed [Member]
Subclassification of raw materials, spare parts and components consumed [Axis] Indigenous [Member]
01/04/2017 01/04/2016
to to
31/03/2018 31/03/2017
Additional information on profit and loss account [Abstract]
Details of raw materials, spare parts and components consumed [Abstract]
Details of raw materials, spare parts and components consumed [LineItems]
Value consumed 4,86,46,799 2,61,30,828
Percentage of consumption 8.31% 1.45%

01/04/2017 01/04/2016
to to
31/03/2018 31/03/2017
Additional information on profit and loss account explanatory [TextBlock]
Changes in inventories of finished goods -1,26,51,577 5,16,77,159
Changes in inventories of work-in-progress 2,13,17,690 1,31,68,664
Changes in inventories of stock-in-trade (A) 0

(B) 14,94,521
Total changes in inventories of finished goods, work-in-progress and
86,66,113 6,63,40,344
stock-in-trade
Exceptional items before tax -72,83,000 0
Total exceptional items -72,83,000 0
Total exceptional and extraordinary items -72,83,000 0
Value of imports of raw materials 22,555 0
Value of imports of components and spare parts 44,07,971 3,85,228
Total value of imports calculated on CIF basis 44,30,526 3,85,228
Expenditure on dividend paid 0 0
Total expenditure in foreign currency 0 0
Total amount of dividend remitted in foreign currency 0 0
FOB value of traded goods exported 9,28,69,777 1,62,88,084
Total earnings on export of goods calculated on FOB basis 9,28,69,777 1,62,88,084
Total earnings in foreign currency 9,28,69,777 1,62,88,084
Domestic sale manufactured goods 0 0
Domestic sale traded goods 274,61,15,810 213,15,13,477
Total domestic turnover goods, gross 274,61,15,810 213,15,13,477
Export sale manufactured goods 0 0
Export sale traded goods 9,28,69,777 1,62,88,084
Total export turnover goods, gross 9,28,69,777 1,62,88,084
Total revenue from sale of products 283,89,85,587 214,78,01,561
Total revenue from sale of services 0 0
Gross value of transaction with related parties as per AS-18 0 0
Bad debts of related parties as per AS-18 0 0
Footnotes
(A) Traded goods : 0
(B) Traded goods : 1494521
[300100] Notes - Revenue

01/04/2017
to
31/03/2018
Disclosure of revenue explanatory [TextBlock] [See below]
156
Disclosure of revenue explanatory [Text Block]
a) Product sales
Revenue from sale of goods in the course of ordinary activities is recognised when property in the goods or all significant risks
and rewards of their ownership are transferred to the customer and no significant uncertainty exists either regarding the amount
of the consideration that will be derived from the sale of the goods or regarding its collection.The amount recognised as revenue
is exclusive of sales tax, value added taxes and is net of returns, trade discounts and quantity discounts.
b) Export incentives
Export incentives are recognised when the right to receive credit as per the terms of incentives is established in respect of the
exports made and when there is no significant uncertainty regarding the ultimate collection of the relevant export proceeds.
c) Interest income
Interest income is recognised on a time proportion basis taking into account the amount outstanding and the interest rate
applicable.
d) Other income
Other items of income are accounted as and when the right to receive income arises.
157
[300700] Notes - Key managerial personnels and directors remuneration and other information
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors [Table] ..(1)
Key managerial personnels and directors [Axis] 1 2 3 4
01/04/2017 01/04/2017 01/04/2017 01/04/2017
to to to to
31/03/2018 31/03/2018 31/03/2018 31/03/2018
Disclosure of key managerial personnels and directors and
remuneration to key managerial personnels and directors
[Abstract]
Disclosure of key managerial personnels and directors
and remuneration to key managerial personnels and
directors [LineItems]
DEEPAK RAJHEEV AKHILESH
KIRIT KUMAR
Name of key managerial personnel or director SURESHCHAND SHANKARLAL DWARKA
PATHAK
SANGHAVI AGRAWAL PRASAD SONI
Director identification number of key managerial
00274804 00284183 01849295
personnel or director
Permanent account number of key managerial
AVGPS8790Q
Date of birth of key managerial personnel or
23/08/1977 16/10/1963 27/07/1973 19/02/1952
director
Designation of key managerial personnel or director Managing Director Director Company Secretary Nominee Director
Qualification of key managerial personnel or
Graduate Graduate CS Graduate
director
Shares held by key managerial personnel or director [shares] 4,230 [shares] 694 [shares] 0 (A) [shares] 3,600
Key managerial personnel or director remuneration
[Abstract]
Gross salary to key managerial personnel or
director [Abstract]
Salary key managerial personnel or director 61,92,000 1,71,00,000 10,92,960
Profits in lieu of salary key managerial
0 0 0 0
Gross salary to key managerial personnel or
61,92,000 1,71,00,000 10,92,960 0
director
Total key managerial personnel or director
61,92,000 1,71,00,000 10,92,960 0
remuneration
Footnotes
(A) KIRIT PATHAK (PREPRESENTING DEEPAK & CO.)
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors [Table] ..(2)
Key managerial personnels and directors [Axis] 5 6
01/04/2017 01/04/2017
to to
31/03/2018 31/03/2018
Disclosure of key managerial personnels and directors and remuneration to key
managerial personnels and directors [Abstract]
Disclosure of key managerial personnels and directors and remuneration to key
managerial personnels and directors [LineItems]
RANVEER
Name of key managerial personnel or director SANJIV SINGHAL
SHARMA
Director identification number of key managerial personnel or director 02408616 02483364
Date of birth of key managerial personnel or director 23/03/1967 28/02/1975
Designation of key managerial personnel or director Nominee Director Nominee Director
Qualification of key managerial personnel or director Graduate Graduate
Shares held by key managerial personnel or director [shares] 0 [shares] 0
Key managerial personnel or director remuneration [Abstract]
Gross salary to key managerial personnel or director [Abstract]
Profits in lieu of salary key managerial personnel or director 0 0
Gross salary to key managerial personnel or director 0 0
Total key managerial personnel or director remuneration 0 0
158
[301000] Notes - Corporate social responsibility

01/04/2017
to
31/03/2018
Disclosure of corporate social responsibility explanatory [TextBlock]
Whether provisions of corporate social responsibility are applicable on
No
company
159

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NILONS ENTERPRISES PRIVATE LIMITED

Standalone Financial Statements for period 01/04/2017 to 31/03/2018

[400100] Disclosure of general information about company

Disclosure of principal product or services [Table] ..(1)

[400400] Disclosures - Directors report

Details of directors signing board report [Table] ..(1)

Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(1)

Unless otherwise specified, all monetary values are in INR

Disclosure for companies covered under section 178(1) on

The Company has

Textual information (1)

Disclosure in board of directors report explanatory [Text Block]

To the Members of Nilons Enterprises Private Limited,

Particulars 2017-18 2016-17

Total Income 28,497.18 21,619.21

Total Expenditure 28,060.87 21,146.50

Profit before Tax 436.31 472.71

Exception Item 72.83 -

Provision for taxation 23.9 -

Profit after Tax 339.57 472.71

Add: Surplus brought forward from previous year -4,058.22 -4,530.92

Add: Addition on account of amalgamation -6,056.39 -

Profit available for appropriation -9,775.03 -4,058.22

Transfer to General Reserve - -

Surplus carried to Balance Sheet -9,775.03 -4,058.22

Earnings per share (Face value Rs. 1,000/- per shares

Basic (Rs.) 1,992.39 3,932.66

Diluted (Rs.) 1,006.33 - 1,378.29 3830.64 2939.06

2. FINANCIAL PERFORMANCE AND STATE OF AFFAIRS OF THE COMPANY:

3. DIVIDEND ON EQUITY SHARES

5. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCTION AND PROTECTION FUND

Sr. No. Particulars Amount

Pre-merger authorised share capital

[A] Sanghavi Foods Private Limited INR 4,50,00,000

45,000 equity shares of Rs 1,000/- each

[B] Sanskar Recipes Private Limited INR 4,25,00,000

425,000 equity shares of Rs 100/- each

[C] Nilons Enterprises Private Limited (Pre-Merger) INR 2,00,00,000

20,000 equity shares of Rs 1,000/- each

Total [A] + [B] + [C] INR 10,75,00,000

Post-merger authorised share capital

[D] Nilons Enterprises Private Limited (Post-Merger) INR 10,75,00,000

1,07,500 Equity Shares of INR 1,000 each

Sr. No. Particulars Amount

Pre-merger paid-up share capital

[A] Sanghavi Foods Private Limited INR 2,66,20,000

26,620 equity shares of Rs 1,000/- each

[B] Sanskar Recipes Private Limited INR 2,66,20,000

266,200 equity shares of Rs 100/- each

[C] Nilons Enterprises Private Limited (Pre-Merger) INR 1,20,20,000

12,020 equity shares of Rs 1,000/- each

Post-merger paid-up share capital

[D] Nilons Enterprises Private Limited (Post-Merger) INR 2,06,99,000

20,699 Equity Shares of INR 1,000 each

b. Allotment of Equity Shares and Debentures.

8. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

Technology Absorption, Adaptation and Innovation:

The detail as required under Form A is enclosed as Annexure A to this report.

Foreign exchange earnings and outgo

9. STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OF THE

12. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES

13. EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR DISCLAIMERS

There are no qualifications, reservations or adverse remarks by the Auditors.