SUNRISE BISCUIT CO. PVT. LTD.

Transcription

1 SUNRISE BISCUIT CO. PVT. LTD. DIRECTORS REPORT The Directors present their Twenty-Fifth Annual Report and the Audited Statement of Accounts for the year ended 31 st March FINANCIAL RESULTS [ Rs. in lakhs ] [ Rs. in lakhs ] Year ended Year ended March 31,2010 March 31,2009 Total Income Profit before Interest & Depreciation Less : Interest Less : Depreciation Profit / (Loss) for the year before Tax Provision for Tax: (1) Current (MAT) (2) Current (FBT) (3) Deferred (3.64) Profit / (Loss) after Tax (3.52) Profit/ (Loss) Brought Forward 0.00 (16.28) Profit / (Loss) Carried Forward (19.80) Operations During the year under review the total income of the company was Rs lacs as against Rs lacs in the previous year. The production of biscuits during the year was MT as against MT in the previous year. The profit before Tax was Rs lacs as against the profit of Rs lacs in the previous year. A third line of oven has been set up successfully and the same is fully operational now. Finance The Company has provided Income tax [MAT] Rs lacs and deferred tax reversed Rs lacs. The unsecured loan has come down from 820 lacs to Rs. 280 lacs. The Company has turned around and the financial position. The profit after tax has increased to Rs lacs compared to Rs. (3.52) lacs in the previous year. Dividend In view of the financial position and outstanding loans of the Company, your Directors do not recommend any Dividend to the members of the Company. Page 1 of 5

2 Sunrise Biscuit Co. Pvt. Ltd. Continuous Sheet Directors In accordance with the requirement of the Companies Act, 1956 and Articles of Association of the Company, Mr. Rajesh Lal, Director retire by rotation at the forthcoming Annual general Meeting and eligible for re-appointment. Mr. A.K. Gupta and Mr. Raju Thomas were appointed additional Directors in June, 2009 and as per provision of Articles of Association their appointments are valid upto the date of the ensuing Annual General Meeting. The Board has recommended their appointments to the members. Auditors M/s Ashok Kumar Jalan & Associates, Chartered Accountants, Guwahati who are the Statutory Auditors of the Company, hold office, in accordance with the provisions of the Companies Act, 1956 (the Act), upto the conclusion of the forthcoming Annual General Meeting. They would not be seeking re-appointment at the ensuing Annual General Meeting (AGM) The Company has received a special notice from a Member of the Company in terms of the provisions of the Act, signifying the intention to propose the appointment of Messrs B S R & Co., Chartered Accountants, as the Statutory Auditors of the Company from the conclusion of the ensuing AGM until the conclusion of the next AGM. Messrs B S R & Co. have also expressed their willingness to act as Auditors of the Company, if appointed, and have confirmed their eligibility. Members are requested to appoint Messrs B S R & Co. as Auditors at remuneration to be fixed by the Board of Directors. Secretarial Compliance Certificate As required, under the Companies [Amendment] Act, 2000 read with Companies [Compliance Certificate] Rules 2001 Secretarial Compliance Certificate for the year is given in the Annexure A forming the part of this Report. Employees Your Company continues to pay high degree of emphasis on human resource development, which it believes is necessary to meet the challenges of increased competitiveness. The Industrial relations in your Company was stable during the period under review. There is no employee covered under the provisions of section 217(2A) of the Companies Act., 1956 read with Companies [Particulars of Employees] Rules, Conservation of Energy, Technology Absorption, Foreign Exchange earnings and outgo A. Conservation of energy : Total energy consumption and energy consumption per Unit of Production as per form A of the annexure to this report. Page 2 of 5

3 Sunrise Biscuit Co. Pvt. Ltd. Continuous Sheet B. Technology Absorption: Efforts made in technology absorption is as per Form B of the Annexure to this report. Directors Responsibility As required, under section 217(2AA) of the Companies [Amendment] Act, 2000 the Directors based on the representation received from the operating management, confirm that; (I) (II) (III) (IV) In the preparation of Annual Accounts, the applicable Accounting standards have been followed and there are no material departures. They have selected such accounting policies and applied them consistently and made judgment and estimates that are reasonable and prudent so as to give true and fair view of the state of affairs of the Company as on 31 st March 2010 and of the profit of the Company for the year ended 31 st March They have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provision of this Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. They have prepared the accounts on a going concern basis. Acknowledgement Your Directors are pleased to record their appreciation for the dedication and the hard work put up by the employees at all levels and acknowledge their contribution towards progress and performance of the Company. On Behalf of the Board of Directors Sd/- Raju Thomas Director Sd/- A. K. Gupta Director Date : Place : Bangalore Page 3 of 5

4 Sunrise Biscuit Co. Pvt. Ltd. Continuous Sheet (A) 01. ELECTRICITY YEAR YEAR Purchase Unit KWH Total Amount [ Rs. in lacs] Rate / Unit Own Generation Through Diesel Generation [HSD] YEAR YEAR Unit KWH Unit /Ltr Cost / Unit Coal [ Specify quality and where use ] Not applicable 03. Furnace oil ( LVFO- Low Viscosity Furnace Oil ) YEAR YEAR Quantity [Ltr] Total Cost [ in Rs. lacs] Rate / Unit [ in Rs.] Other- LDO YEAR YEAR Quantity [KG.] NIL NIL Total Cost [ in Rs. lacs] NIL NIL Rate / Unit [ in Rs.] NIL NIL (B) Consumption per unit of Production YEAR YEAR Electricity [ KWH/MT] LVFO ( Ltr/MT) LDO ( Ltr/MT) NIL NIL (C) Foreign Exchange Earnings and outgo (a) Activities Nil (b) Total foreign exchanges used and earned Nil Page 4 of 5

5 Sunrise Biscuit Co. Pvt. Ltd. Continuous Sheet (A) Research and Development [ R & D] 1. Specific areas in which R& D carried out by the Company : Nil 2. Benefits derived as a result of the above R & D : Nil 3. Future plan of action : Nil 4. `Expenditure on R & D : Nil (B) Technology absorption, adaptation and innovation 1. Efforts in brief, made towards technology, absorption, adaptation, and innovation. A great emphasis is laid on product quality, productivity and plant utilisation. 2. Benefit derived as a result of the above efforts are lower cost of production and higher volumes. 3. Particulars of technologies imported : Not applicable ON BEHALF OF THE BOARD OF DIRECTORS Sd/- Raju Thomas DIRECTOR Sd/- A. K. Gupta DIRECTOR Date : Place : Bangalore Page 5 of 5

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12 SUNRISE BISCUIT COMPANY PRIVATE LIMITED BALANCE SHEET 31st March 31st March As at Schedule Rupees Rupees I SOURCES OF FUNDS (1) SHAREHOLDERS' FUNDS (a) Share Capital 1 37,995,000 37,995,000 (b) Reserves & Surplus 2 33,268,741 - (2) LOAN FUNDS Unsecured Loans 3 28,000,000 82,000,000 (3) DEFERRED TAX LIABILITY 4 4,954,180 5,317, ,217, ,312,975 II APPLICATION OF FUNDS (1) FIXED ASSETS (a) Gross Block 5 191,154, ,874,840 Less : Depreciation 49,421,633 41,979,946 Net Block 141,733, ,894,894 (b) Capital Work-in-Progress including advances ,733, ,894,894 (2) CURRENT ASSETS, LOANS AND ADVANCES (a) Inventories 6 62,889,896 31,387,783 (b) Cash and Bank Balances 7 5,480,543 33,457,053 (c) Loans and Advances 8 28,211,347 8,492,009 96,581,786 73,336,845 Less : CURRENT LIABILITIES AND PROVISIONS (a) Liabilities 9 126,656, ,600,598 (b) Provisions 10 7,441, , ,097, ,899,004 NET CURRENT ASSETS (37,515,314) (28,562,159) (3) Profit and Loss Account - 1,980, ,217, ,312,975 NOTES 14 (0) (0) In terms of our report of even date. For Ashoke Kumar Jalan & Associates For and on behalf of the Board Directors Chartered Accountants Sd/- Sd/- (Ashoke Kumar Jalan ) Director Director Partner Place: Guwahati Place: Bangalore Date: 26th May 2010 Date: 25th May 2010

13 SUNRISE BISCUIT COMPANY PRIVATE LIMITED PROFIT AND LOSS ACCOUNT 31st March 31st March For the year ended Schedule Rupees Rupees I INCOME Gross Sales 718,307, ,623,309 Conversion Income - 34,950,717 Sales Tax (81,992,743) (36,180,477) Excise Duty (3,171,588) (4,133,045) Net Sales 633,142, ,260,504 Other Income 11 73,265,052 20,777, ,408, ,037,712 II EXPENDITURE Consumption of Materials ,688, ,982,922 Salaries, Wages and Bonus 44,598,730 33,224,134 Interest 4,312,881 3,420,604 Depreciation 8,465,731 6,624,306 Expenses 13 78,314,354 57,770, ,380, ,022,449 PROFIT/(LOSS) BEFORE TAX 42,027,813 2,015,263 Provision for Tax Current (MAT) 7,142, ,166 Current (FBT) - 152,306 Deferred (363,796) 2,014,170 PROFIT / ( LOSS ) AFTER TAX 35,248,981 (352,380) PROFIT AVAILABLE FOR APPROPRIATION 35,248,981 (352,380) DIVIDEND AND TAX Proposed Dividend - - Tax on dividend - - PROFIT CARRIED FORWARD 35,248,981 (352,380) NOTES 14 35,248,981 (352,380) Basic and Diluted EPS 9.28 (0.09) In terms of our report of even date. For Ashoke Kumar Jalan & Associates For and on behalf of the Board of Directors Chartered Accountants Sd/- Sd/- (Ashoke Kumar Jalan ) Director Director Partner Place: Guwahati Place: Bangalore Date: 26th May 2010 Date: 25th May 2010

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15 SUNRISE BISCUIT COMPANY PRIVATE LIMITED SCHEDULES TO ACCOUNTS 31st March 31st March As at Rupees Rupees 1 Share Capital Authorised 43,50,000 equity shares of Rs.10/- each 43,500,000 43,500,000 (Previous year 43,50,000 equity shares of Rs.10/- each ) % Redeemable Non-Cumulative Preference Shares of Rs. 100/- each. 500, ,000 44,000,000 44,000,000 Issued, Subscribed & Paid up 37,99,500 equity shares of Rs.10/- each for cash, fully paid 37,995,000 37,995,000 (Previous year 37,99,500 equity shares of Rs.10/- each) 37,995,000 37,995,000 2 Reserves & Surplus Profit & Loss Account (1,980,241) (1,627,861) Transferred from Profit & Loss Account 35,248,981 (352,380) Balance carried forward 33,268,741 (1,980,241) 3 Unsecured Loan Term Loan -from others 28,000,000 82,000,000 28,000,000 82,000,000 Unsecured loan from the holding company. The loan is repayable on demand and the holding company has lien on the assets made out of this loan. 4 Deferred Tax Deferred Tax Liability 9,770,340 7,829,080 Less: Deferred Tax Asset 4,816,160 2,511,105 4,954,180 5,317,975 6 Inventories Stores, Spare parts and Consumables 7,817,269 5,158,388 Ingredients 28,019,992 14,220,774 Packing Materials 7,532,833 7,989,840 Finished goods 19,519,802 4,018,781 62,889,896 31,387,783 7 Cash and Bank Balances Cash and cheques in hand 479, ,419 With Scheduled Banks- -in Current Accounts 5,000,941 30,542,634 -in Deposits Accounts - 2,550,000 5,480,543 33,457,053 8 Loans and Advances Unsecured - considered good Advances recoverable in cash or in kind or for value to be received 9,795,715 4,835,911 Security & Other Deposits 854,504 1,295,504 Central capital Investment Subsidy Receivable 9,682,343 Current accounts with Excise authorities 79,660 74,057 Advance Income Tax & TDS 7,799,125 2,286,537 28,211,347 8,492,009 9 Current liabilities Sundry Creditors (other than SSI units) Due to Small Scale industries (Note 1) - - Others 43,802,815 32,678,669 Other liabilities 82,853,252 68,921, ,656, ,600,598 Note 1: The above information regarding small scale industrial undertakings has been made based on the information provided by the Company, which has been relied upon by the auditors. Other Liabilities include Rs. 591,474/-towards Provident Fund and ESI contribution from both employees and employer (Previous Year - Rs. 471,758/- ) and Provision for Leave Liability Rs. 16,94,271/- (Previous Year - Rs. 19,01,541/-) 10 Provisions Provision for taxation(mat) 7,441, ,406 Provision for taxation(fbt) - - Provision for Retirement benefits - - 7,441, ,406

16 SUNRISE BISCUIT COMPANY PRIVATE LIMITED SCHEDULES TO ACCOUNTS 31st March 31st March For the year ended Rupees Rupees 11 Other Income Miscellaneous Income 3,398,092 1,405,590 VAT Benefit 69,437,246 19,105,092 Profit on sale of asset - 23,000 Interest Received (Tax deducted Rs. 53,314/-) 429, ,526 73,265,052 20,777, Consumption of Materials Opening Stock - - Raw Materials 14,220,774 - Packing Materials 7,989,840 - Finished Goods ,210,614 - Purchases of Raw Materials 444,821, ,699,875 Purchases of Packing Materials 97,209,232 53,493, ,241, ,193,536 Closing Stock Raw Materials 28,019,992 14,220,774 Packing Materials 7,532,833 7,989,840 Finished goods - 35,552,825 22,210, ,688, ,982, Expenses Stores and Spare parts consumed 3,136,921 1,347,112 Contribution to Provident and Other funds 3,522,662 2,891,017 Workmen and Staff welfare expenses 3,063,576 2,868,372 Power and fuel 54,581,353 39,078,213 Repairs and maintenance of Machinery 2,294,931 1,219,460 Repairs and maintenance of Buildings 539, ,423 Repairs and maintenance of Other Assets 1,593, ,548 Rates and taxes 539, ,906 Auditors' Remuneration Audit fee 61,500 60,665 Other services Out of Pocket Expenses 6,854 9,851 Insurance 342, ,011 Directors' sitting fees 2,400 1,000 Salaries, Benefits etc. reimbursed 3,247,691 3,106,063 Loss on retiral/writeoff of assets 168,802 26,688 Professional Charges 765, ,001 Travelling & Conveyance 178, ,517 Security & Other Service Charges 637, ,258 Vehicle Repairs & Maintenance 608, ,205 Telephone, Telex & Telegram 318, ,273 Printing & Stationery 227, ,077 Miscellaneous expenses 2,478,175 2,320,823 78,314,354 57,770,483

17 SUNRISE BISCUIT COMPANY PVT LTD Year ended 31st March Fixed Assets Rupees Gross Block Accumulated Depreciation Net Block As on 31st Additions Deductions/ Reduction for Central 31st March Op.Accum. For the Deductions/ 31st March 31st March As at 31st Mar-2009 during the retired during Investment Capital 2010 Depreciation period Adjustment/ Mar-2009 Year the Year Subsidy Mar-2009 retirements Land 9,685, ,685, ,685,860 9,685,860 Building 78,747,273 2,034, ,781,330 9,167,875 2,551,680-11,719,555 69,061,775 69,579,398 Plant and 101,966,661 5,800, ,382 9,682,343 97,174,926 31,379,696 5,742, , ,457,675 60,717,251 70,586,965 Machinery Furniture, Fitting 2,633, , ,081,177 1,069, ,933-1,199,986 1,881,191 1,564,854 and Equipment Motor Vehicle 841, , , ,322 41, , , , ,817 As at 31st March ,874,840 8,282,317 1,319,946 9,682, ,154,868 41,979,946 8,465,731 1,024,043 49,421, ,733, ,894,894 As at 31st March ,040, ,277, , ,874,840 35,772,615 6,624, ,975 41,979, ,894,894 40,267,908

18 14 Notes to Accounts A. The significant accounting policies are summarised below : 1. GENERAL (i) These Financial Statements have been prepared under the historical cost convention in accordance with the generally accepted accounting principles and the provisions of the Companies Act, 1956 as adopted consistently by the company and the accounting standards prescribed by the Institute of Chartered Accountants of India on going concern basis. (ii) The Company has entered into Purchase Of Finished Goods (POFG) agreement dated 19th Aug with Britannia Industries Ltd w.e.f 1st Sep As per the agreement, M/s Sunrise Biscuit Co. Pvt. Ltd. will itself source Ingredients & packing materials and the Company will sale biscuits to M/s Britannia Industries Ltd. 2. FIXED ASSETS (i) Fixed assets are stated at their original cost less depreciation. Cost includes inward freight, duties and taxes, and expenses incidental to acquisition and installation. CENVAT available on capital has been reduced. During the year Central Capital Investment Subsidy was approved to Unit for a sum of Rs. 96,82,343/-. The amount of Rs. 96,82,343/- is reduced from cost of Plant & Machineries as the Central Capital Investment Subsidy is approved for investment in Plant & Machineries under North East Industrial Investment Promotion & Policy, (ii) Depreciation is provided on 'Straight Line' method at the rates specified in Schedule XIV of the Companies Act, Depreciation on additions/disposals has been computed from the month of additions and upto the month of disposal. (iii) An asset is treated as impaired when the carrying cost of assets exceeds its recoverable value. The company assesses at each balance sheet date whether there is any indication that any assets may be impaired. If any such indication exists, the carrying value of such assets is reduced to its recoverable amount and the amount of such impairment loss is charged to profit & loss account. If at the balance sheet date there is any indication that a previously assessed impairment loss no longer exists, then such loss is reversed and the assets are restated to that effect. 3. INVENTORIES 4. REVENUE RECOGNITION SUNRISE BISCUIT COMPANY PRIVATE LIMITED SCHEDULES TO ACCOUNTS Year ended 31st March 2010 Raw materials, Packing Materials and Stores & Spares are valued at cost or net realisable value, whichever is less. Cost includes purchase price net off Cenvat, freight and other incidental expenses. Valuation of raw materials have been made on FIFO basis. Finished goods are valued at lower of prime cost plus manufacturing expenses or net realisable value. Sales are recorded when supply of goods takes place in accordance with terms of sale in terms of POFG agreement dtd. 19th Aug wef 1st Sep RETIREMENT BENEFITS (i) The liability for Gratuity is funded as per Group Gratuity Scheme of Life Insurance Corporation of India and accordingly the premium so payable under the said Scheme against the contribution to the Fund is accounted for, as per Gratuity Fund method of accounting, as and when the same becomes due for payment. (ii) Liabilities in respect of retirement benefits other than gratuity and provident funds are charged to revenue based on actuarial valuation as at the end of the accounting period. Contribution to provident fund is made on monthly basis and charged to revenue. 6. DEFERRED TAXATION Deferred tax is recognised on timing differences, being the difference between taxable income and accounting income that originate in one period and are reversible in one or more subsequent periods. 7. PROVISION FOR TAXATION There would be no taxable income calculated in accordance with the provisions of section 80IE of the Income Tax Act, Taxation provision of Rs. 75,33,716/- however, made in the accounts represents Minimum alternate tax (MAT) payable under the said Act and the same is in the opinion of the management adequate. A Previous years figures have been regrouped/rearranged wherever necessary. B 1. Commitment for capital expenditure amounts to Rs. Nil/- (Previous year Rs. Nil) 2 Contingent liabilities : Rs Nil. (Previous year Rs. Nil) 3 The company started availing sales tax exemption based on the Sales Tax Exemption Certificate issued by the Dept of Industries, Govt. of Assam, granting sales tax exemption till 30th April During the pendency of the exemption period, Govt. of Assam had issued Notificated dated , withdrawing the sales tax benefit of Biscuit manufacturing unit where product are not sold in own brand name. The company immediately filed writ petition before the Hon'ble Guwahati High Court challenging the legality of the Notification, which is against the1991 Industrial Policy of Govt of Assam. The court issued a stay-order on and the final order is passed in favour of Company. In the event of any unfavourable event, the company will recover the amount of sales tax so payable, from the customer M/s Britannia Industries Ltd since the customer is liable for payment of sales tax as per the agreement dated a Further, during the year Company had undertaken substantial expansion as per NEIIP, 2007 / Assam Industrial Policy, Company has applied for Eligibility Certificate for VAT exemption and other incentives. Company is able to obtain Certificate for Eligibility under process and based on such certificate Company has started availing VAT exemption w.e.f. 18th Sep. 2008, the date of commencement of production post expansion. 4 The company is availing benefit under Central Excise Notification no. 33/99 dated 8th July 1999 and accordingly the Company is getting refund of Central Excise Duties paid from Account Current. C In view of the Accounting Standard-22 on Accounting for Taxes on Income (AS 22) issued by the Institute of Chartered Accountants of India, the Company has made provision for deffered tax The net Deferred Tax Liability as on 31st March 2010 amounting to Rs.49,54,180/- (PY:Rs. 53,17,976/-) has been arrived at as follows :- As at 31st March 2010 As at 31 March 2009 a) Deferred Tax assets arising from Section 43B disallowance 4,816,160 2,511,105 b) Deferred tax Liabilities arising from Timing differences in the carrying value of fixed assets 9,770,340 7,829,080 4,954,180 5,317,975 Towards earliers years through deduction in Opening Balance 5,317,976 3,303,805 For the current year (363,796) 2,014,170 4,954,180 5,317,976 The tax impact for the above purpose has been arrived by applying tax rate of 33.99% being the prevailing tax rate for Indian Companies under the Income Tax Act, 1961

19 SUNRISE BISCUIT COMPANY PRIVATE LIMITED SCHEDULES TO ACCOUNTS D AS 26 : There are no items that needed to be disclosed as intangible asset as per AS-26. E Provisions involving substantial degree of estimation in measurement are recognised when there is present obligation as a result of past events and it is probable that, there will be an outflow of resources. Contigent liabilities are not recognised but are disclosed in the notes. Contingent assets are neither recognised nor disclosed in the financial statements. F AS 17 :The primary segment of the company is biscuit and other segments are below the required reportable levels as per the AS-17. G Borrowing costs attributable to the acquisition or construction of qualifying assets is capitalised. All other borrowing costs are charged to revenue. H Earnings Per Share 31st March st March 2009 Profit/(Loss) attributable to the Equity Shareholders (Rs.) 35,248,981 (352,380) Basic/weighted average number of Equity shares 3,799,500 3,799,500 outstanding during the year Nominal value of Equity shares (Rs.) Basic / diluted Earnings Per Share (Rs.) 9.28 (0.09) I Related parties and their relationship a) Name of Company Relationship Britannia Industries Ltd. Holding Company b) Transaction with the related parties Holding Co. Subsidiaries Associates Key Management Personnel Relatives of Key Managem ent Personnel Purchases of inputs 12,870, ,870,610 Sale of finished goods 718,307, ,307,306 Sale of raw materials / inputs 4,162, ,162,201 Purchases of fixed assets Sale of fixed assets Conversion income Interest paid 4,312, ,312,881 Loan Repaid 54,000, ,000,000 WC Advances Taken 26,500,000 26,500,000 Equity Management contracts including for deputation of 3,247, ,247,691 employees Total J Sales (including samples) & Conversion Charges Product group Quantity Value 31st March st March st March st March 2009 Tonnes Tonnes Rupees Rupees Sale of Biscuits ,307, ,623,309 Conversion Charges ,950, ,950,717 K Raw materials consumed Quantity Value 31st March st March st March st March 2009 Tonnes Tonnes Rupees Rupees Flour 10, , ,514,142 73,587,506 Fat 2, , ,193,039 50,094,151 Sugar 3, , ,055,708 31,766,425 Others - 44,259,391 37,031, ,022, ,479,100 31st March st March 2009 Rupees % Rupees % Imported Indigenous 431,022, ,479, ,022, ,479,100 - Stores and spare parts consumed 31st March st March 2009 Rupees % Rupees % Imported Indigenous 3,136, ,347, ,136, ,347, L Licenced and installed capacities per annum - in tonnes Licenced Licenced Installed* Installed* Capacity Capacity Capacity Capacity Product group 31st March st March st March st March 2009 Biscuit N.A. N.A * Installed capacities are based on the certificate issued by the Department of Industries, Govt. of Assam M Production 31st March st March 2009 Product group in tonnes in tonnes Biscuits during under POFG Agreement WEF 1st Sep Biscuits during under Conversion Agreement

20 SUNRISE BISCUIT COMPANY PRIVATE LIMITED SCHEDULES TO ACCOUNTS Opening and Closing stocks 31st March st March 2009 of Finished goods (a) Opening stock Quantity Value Quantity Value Tonnes Rupees Tonnes Rupees Biscuits 83 4,018, (b) Closing stock Biscuits* ,519, ,018,781 N Balance Sheet Abstract and Company's General Business Profile (a) Registration details Registration No State Code 02 Balance Sheet date (b) Capital raised during the year ( Rupees ) Public Issue - Rights Issue - Bonus Issue - Private Placement (c) Position of mobilisation and deployment of funds (Rs.' 000) Total Liabilities 104,218 Total Assets * 104,218 Sources of Funds Application of Funds Paid up Capital 37,995 Net Fixed Assets 141,733 Reserves and Surplus 33,269 Investments 0 Unsecured Loans 28,000 Net Current Assets (37,515) Deferred Tax 4,954 Misc.Expenditure 0 Profit & Loss Account Balance * Net of Current Liabilities (d) Performance of the Company (Rs.' 000) Turnover 706,408 Total Expenditure 664,380 Profit before Tax 42,028 Profit after Tax 35,249 Earnings per Share in Rs Dividend Rate % 0 (e) Generic names of three principal products / services of Company (as per monetary terms) Item Code (ITC Code) Product Description BISCUITS