Annual Report

2009 - 2010

RELIANCE FRESH LIMITED

 Reliance Fresh Limited 1

Directors Report

Dear Members, Dividend:

Your Directors are pleased to present the Eleventh Annual Report Your directors have not recommended any dividend on equity
and the Audited Accounts for the year ended March 31, 2010. shares for the year under review.
Financial Results: Subsidiary Company:
The financial performance of the Company for the financial The audited statements of accounts all the subsidiaries, namely
year ended March 31, 2010 is summarized below: Reliance F&B Services Limited, Retail Concepts & Services
(Rs. in lakh) (India) Limited, Delight Proteins Limited, Reliance Petro
Marketing Limited and LPG Infrastructure (India) Limited,
2009-2010 2008-2009 together with the Reports of the Board of Directors and Auditors
Profit/(Loss) before (15,072.19) (29,417.28) for the year ended 31st March, 2010 are attached as required
Depreciation, Interest and Tax under Section 212 of the Companies Act, 1956.
Less: Interest 8.05 16.78 Directors:
Depreciation 6,628.73 5,969.81
Shri Gunender Kapur resigned from the office of Director of the
Profit /(Loss) before Tax (21,708.97) (35,403.87) Company with effect from March 31, 2010. The Board wishes
Less: Provision for to place on record the valuable contribution made by him during
Fringe Benefit Tax - 176.07 his tenure as Director of the Company.
Deferred Tax (8,192.56) (10,649.63)
Shri Madhavan Ganesan retires by rotation and being eligible,
Profit/ (Loss) after Tax (13,516.41) (24,930.31) offers himself for re-appointment at the ensuing Annual General
Meeting.
Add: Balance brought (27,676.78) (2,746.47)
forward from previous year Directors' Responsibility Statement:
Balance carried to (41,193.19) (27,676.78) Pursuant to the requirement under Section 217(2AA) of the
Balance Sheet Companies Act, 1956 with respect to Directors' Responsibility
Operational Review: Statement, it is hereby confirmed that:

During the year under the review, the Company has maintained
its robust growth as a 'value retailer' dealing in a variety of
superior quality food and non-food products at affordable prices.
The Company's 'Reliance Fresh' stores offer wide assortment
of products including private label products which are highly
trusted, catering to the needs of the entire family.
The Company has incurred a loss of Rs. 13,516.41 lakh for the
financial year ended March 31, 2010. With the optimisation of
resources and further scaling up of retail store operations, the
Company is confident of posting better results in the future.
The Company had applied to the Central Government seeking
exemption from presenting the information as per paras 3(i)(a)
and 3(ii)(b) of Part II of Schedule VI to the Companies Act,
1956. The Company has received Orders no. 46/84/2009-CL-
III dated 14.05.2010 and no. 46/74/2010-CL-III dated
14.05.2010 of the Ministry of Corporate Affairs, Government
of India granting the exemption from making the above
disclosures respectively for the financial years ended on
31.03.2009 and 31.03.2010.
(i) in the preparation of the accounts for the year ended March
31, 2010, the applicable accounting standards have been
followed and there are no material departures from the
same;
(ii) the Directors have 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 loss of the Company
for the year under review;
(iii) the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance
with the provisions of the Companies Act, 1956 for
safeguarding the assets of the Company and for preventing
and detecting fraud and other irregularities;
(iv) the Directors have prepared the accounts for the year ended
March 31, 2010 on a 'going concern' basis.
2 Reliance Fresh Limited

Auditors: i. Part A and B of the Rules, pertaining to conservation of

energy and technology absorption, are not applicable to
During the year, Messrs S.R. Batliboi & Co., Chartered
the Company.
Accountants, resigned as joint statutory auditors of the
Company. To fill this vacancy, Messrs S.V. Ghatalia & ii. Foreign Exchange Earnings and Outgo:
Associates, Chartered Accountants, were appointed as Joint
Foreign Exchange Earned - Nil
Statutory Auditors of the company.
Foreign Exchange Used - Rs. 1375.77 Lakh
Messrs Chaturvedi & Shah, Chartered Accountants and Messrs.
S. V. Ghatalia & Associates, Chartered Accountants, Statutory Acknowledgement:
Auditors of the Company, hold office until the conclusion of
the ensuing Annual General Meeting of the Company and are Your Directors would like to express their grateful appreciation
eligible for re appointment. for assistance and cooperation received from Banks, Government
Authorities, Customers, Vendors, Employees and Members
The Company has received letters from them to the effect that during the year under review.
their re-appointment, if made, would be within the prescribed
limits under Section 224(1B) of the Companies Act, 1956 and For and on behalf of the Board of Directors
that they are not disqualified for such re-appointment within
the meaning of Section 226 of the Companies Act, 1956.
Raghu Pillai Madhavan Ganesan
Particulars of Employees: Director Director
As required under the provisions of Section 217(2A) of the
Companies Act, 1956, read with the Companies (Particulars of
Employees) Rules, 1975, as amended, the names and other Place: Mumbai
particulars of the employees are set out in the Annexure to this Date: May 18, 2010
Report.
Conservation of Energy, Technology Absorption and
Foreign Exchange Earnings and Outgo:
The particulars relating to conservation of energy, technology
absorption and foreign exchange earnings and outgo, required to
be furnished pursuant to Section 217(1)(e) of the Companies
Act, 1956, read with Companies (Disclosures of Particulars in
the Report of Board of Directors) Rules, 1988, are as under:
 Reliance Fresh Limited 3

Auditors Report

To the Members of e) On the basis of written representations received from

RELIANCE FRESH LIMITED the Directors as on March 31, 2010 and taken on
record by the Board of Directors, we report that none
We have audited the attached Balance Sheet of RELIANCE of the Directors is disqualified as on March 31, 2010
FRESH LIMITED (‘the Company’) as at March 31, 2010, from being appointed as a director in terms of clause
the Profit and Loss Account and the Cash Flow Statement (g) of sub-section (1) of section 274 of the Companies
for the year ended on that date annexed thereto. These financial Act, 1956;
statements are the responsibility of the Company’s management.
Our responsibility is to express an opinion on these financial f) In our opinion and to the best of our information and
statements based on our audit. according to the explanations given to us, the said
accounts give the information required by the
1. We have conducted our audit in accordance with the Auditing Companies Act, 1956, in the manner so required, and
Standards generally accepted in India. Those standards present a true and fair view in conformity with the
require that we plan and perform the audit to obtain accounting principles generally accepted in India:
reasonable assurance about whether the financial statements
(i) in the case of the Balance Sheet, of the state of
are free of material misstatement. An audit includes
affairs of the Company as at March 31, 2010;
examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also (ii) in the case of the Profit and Loss Account, of
includes assessing the accounting principles used and the loss for the year ended on that date; and
significant estimates made by the management, as well as
(iii) in the case of the Cash Flow Statement, of the
evaluating the overall financial statement presentation. We
cash flows for the year ended on that date.
believe that our audit provides a reasonable basis for our
opinion. For Chaturvedi & Shah For S.V.Ghatalia & Associates
Firm Registration Number: Firm Registration Number:
2. As required by the Companies (Auditor’s Report) Order 101720W 103162W
2003 (as amended) issued by the Central Government of Chartered Accountants Chartered Accountants
India in terms of sub-section (4A) of section 227 of the
Companies Act, 1956, we enclose in the Annexure a
statement on the matters specified in paragraphs 4 and 5 Amit Chaturvedi per Sudhir Soni
of the said Order. Partner Partner
Membership No.: 103141 Membership No.: 41870
3. Further to our comments in the Annexure referred to Place: Mumbai Place: Mumbai
above, we report that: Date: April 22, 2010 Date: April 22, 2010

a) We have 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
appears from our examination of those books;

c) The Balance Sheet, the Profit and Loss Account and

Cash Flow Statement dealt with by this report are in
agreement with the books of account;

d) In our opinion, the Balance Sheet, Profit and Loss

Account and Cash Flow statement dealt with by this
report comply with the mandatory Accounting
Standards referred to in sub-section (3C) of section
211 of the Companies Act, 1956;
4 Reliance Fresh Limited
Annexure referred to in paragraph 2 of our report of even date
Re: Reliance Fresh Limited ('the Company')
1. a) The Company has maintained proper records showing
full particulars, including quantitative details and
situation of fixed assets.
b) Fixed assets have been physically verified by the
management in a phased periodical manner as per
regular programme of verification, which in our opinion
is reasonable, having regard to the size of the Company
and nature of its assets. No material discrepancies
were noticed on such physical verification.
c) There are no substantial disposals of fixed assets during
the year.
2. In respect of its inventories:
a) The inventory has been physically verified during the
year by the management. In our opinion, the frequency
of verification is reasonable.
b) The procedures of physical verification of inventories
followed by the management are reasonable and
adequate in relation to the size of the Company and
the nature of its business.
c) The Company has maintained proper records of
inventory. As explained to us, there were no material
discrepancies noticed on physical verification of
inventory.
3. The Company has neither granted nor taken any loan,
secured or unsecured to/from companies, firms and other
parties covered in the Register maintained under Section
301 of the Companies Act, 1956. Therefore, the provisions
of clause (iii) (b), (c), (d), (f), (g) of the Companies
(Auditor’s Report) Order 2003, (as amended) are not
applicable to the Company.
4. In our opinion and according to the information and
explanations given to us, there is an adequate internal control
system commensurate with the size of the Company and
the nature of its business for the purchase of inventory
and fixed assets and also for the sale of goods and services.
During the course of our audit, no major weakness has
been noticed in the internal control system in respect of
these areas.
5. According to information and explanation given to us, there
are no contracts or arrangements referred to in section 301
of the Companies Act. 1956 that need to be entered into
the register maintained under section 301. Therefore, the
provisions of clause (v) (b) of the Companies (Auditor’s
Report) Order 2003, (as amended) is not applicable to the
Company.
6. The Company has not accepted any deposit from the
public.
7. In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
8. To the best of our knowledge and as explained to us, the
Central Government has not prescribed the maintenance
of cost records under Section 209 (1) (d) of the Companies
Act, 1956.
9. In respect of statutory dues:
a) According to the records of the Company, the
Company is regular in depositing with appropriate
authorities undisputed statutory dues including
provident fund, investor education and protection
fund, employees’ state insurance, income-tax, sales-
tax, wealth-tax, service tax, customs duty, cess and
other statutory dues applicable to it. According to the
information and explanations given to us, no
undisputed amounts payable in respect of provident
fund, investor education and protection fund,
employees’ state insurance, income-tax, wealth-tax,
service tax, sales-tax, customs duty, cess and other
undisputed statutory dues were outstanding, as at
March 31, 2010 for a period of more than six months
from the date they became payable.
b) According to the information and explanation given
to us, there are no dues of sales tax, income tax, wealth
tax, service tax, custom duty, excise duty and cess
which have not been deposited on account of any
dispute.
10. The Company’s accumulated losses at the end of the
financial year are more than fifty per cent of its net worth.
The Company has incurred cash loss in the current financial
year and also in the preceding financial year.
11. Based on our audit procedures and according to the
information and explanations given to us, we are of the
opinion that the Company has not defaulted in repayment
of dues to banks. The Company has not borrowed any
funds from financial institutions or debenture holders during
the year under audit.
12. In our opinion and according to the explanations given to
us and based on the information available, no loans and
 Reliance Fresh Limited 5

Annexure referred to in paragraph 2 of our report of even date

Re: Reliance Fresh Limited ('the Company')

advances have been granted on the basis of security by 18. The Company has not made any preferential allotment of
way of pledge of shares, debentures and other securities. shares to parties and companies covered under Register
maintained under section 301 of the Companies Act, 1956.
13. In our opinion, the Company is not a chit fund or a nidhi/
mutual benefit fund/ society. Therefore, the provisions of 19. The Company did not have any outstanding debenture
clause 4(xiii) of the Companies (Auditor’s Report) Order during the year.
2003, (as amended) are not applicable to the Company.
20. The Company has not raised any monies by way of public
14. The Company has maintained proper records of issue during the year.
transactions and contracts in respect of dealing and trading
in shares, securities, debentures and other investments and 21. Based upon the audit procedures performed for the purpose
timely entries have been made therein. All the shares, of reporting the true and fair view of the financial statements
securities, debentures and other investments have been held and as per the information and explanations given by the
by the Company in its own name. management, we have not come across any instance of
material fraud on or by the Company, noted or reported
15. According to information and explanation given to us the during the course of our audit.
Company has not given any guarantee for loans taken by
For Chaturvedi & Shah For S.V.Ghatalia & Associates
others from bank or financial institutions. Therefore, the
Firm Registration Number: Firm Registration Number:
provisions of Clause (xv) of Companies (Auditor’s Report)
101720W 103162W
Order 2003, (as amended) are not applicable.
Chartered Accountants Chartered Accountants
16. The term loans raised by the company were applied for
the purpose for which loans were obtained.
Amit Chaturvedi per Sudhir Soni
Partner Partner
17. According to the information and explanations given to us
Membership No.: 103141 Membership No.: 41870
and on an overall examination of the balance sheet of the
Place: Mumbai Place: Mumbai
company, we report that the no funds raised on short-term
Date: April 22, 2010 Date: April 22, 2010
basis have been used for long-term investment.
6 Reliance Fresh Limited

Reliance Fresh Limited

Balance Sheet as at 31st March, 2010

(Rs. in lakh)
Schedule As at As at
31st March, 2010 31st March, 2009
SOURCES OF FUNDS
Shareholders’ Funds
Share Capital A 5.00 5.00
Loan Funds
Secured Loans B 58.93 109.25
Unsecured Loans C 210,028.95 177,573.42
210,087.88 177,682.67

TOTAL 210,092.88 177,687.67

APPLICATION OF FUNDS
Fixed Assets D
Gross Block 71,513.50 66,645.73
Less: Depreciation 11,327.32 5,923.62
Net Block 60,186.18 60,722.11
Capital Work-in-Progress 52,887.51 53,931.03
113,073.69 114,653.14
Investments E 49.00 49.00

Deferred Tax Assets 20,104.73 11,912.17

Current Assets, Loans and Advances
Current Assets F
Inventories 21,467.06 17,392.79
Sundry Debtors 5,221.87 5,536.86
Cash and Bank Balances 1,793.64 736.40
28,482.57 23,666.05
\Loans and Advances G 21,052.82 14,720.67
49,535.39 38,386.72
Less :
Current Liabilities and Provisions H
Current Liabilities 13,313.34 14,204.25
Provisions 549.78 785.89
13,863.12 14,990.14
Net Current Assets 35,672.27 23,396.58
Profit and Loss Account 41,193.19 27,676.78
TOTAL 210,092.88 177,687.67

Significant Accounting Policies M

Notes on Accounts N
As per our Report of even date For and on behalf of the Board

For Chaturvedi & Shah For S.V.Ghatalia & Associates Raghu Pillai
Chartered Accountants Chartered Accountants Director

Amit Chaturvedi per Sudhir Soni Madhavan Ganesan

Partner Partner Director
Membership No. 103141 Membership No. 41870

Mumbai
Dated : 22nd April, 2010
 Reliance Fresh Limited 7

Reliance Fresh Limited

Profit and Loss Account for the year ended 31st March, 2010

(Rs. in lakh)

Schedule 2009-10 2008-09

INCOME

Turnover 208,398.97 177,806.20

Less: Service Tax Recovered 125.65 25.85
208,273.32 177,780.35
Other Income I 128.48 132.47
Variation in Stocks J 4,418.19 (967.80)
212,819.99 176,945.02
EXPENDITURE
Purchases 186,105.44 164,110.84
Operating and Other Expenses K 41,786.74 42,251.46
Interest and Finance charges L 8.05 16.78
Depreciation 6,628.73 5,969.81
234,528.96 212,348.89
Profit/ (Loss) before Tax (21,708.97) (35,403.87)
Provision for Fringe Benefit Tax - 176.07
Provision for Deferred Tax (8,192.56) (10,649.63)
Profit/ (Loss) after Tax (13,516.41) (24,930.31)
Add: Balance brought forward from Previous Year (27,676.78) (2,746.47)
Balance carried to Balance Sheet (41,193.19) (27,676.78)
Basic and Diluted Earnings per Share of face value of
Rs 10 each (in Rupees) (27,032.82) (49,860.62)
(Refer Note 8, Schedule ‘N’)
Significant Accounting Policies M
Notes on Accounts N

As per our Report of even date For and on behalf of the Board

For Chaturvedi & Shah For S.V.Ghatalia & Associates Raghu Pillai
Chartered Accountants Chartered Accountants Director

Amit Chaturvedi per Sudhir Soni Madhavan Ganesan

Partner Partner Director
Membership No. 103141 Membership No. 41870

Mumbai
Dated : 22nd April, 2010
8 Reliance Fresh Limited

Reliance Fresh Limited

Cash Flow Statement for the year 2009-10

(Rs. in lakh)
2009-10 2008-09
A: CASH FLOW FROM OPERATING ACTIVITIES
Net Profit/ (Loss) before tax as per Profit and Loss Account (21,708.97) (35,403.87)
Adjusted for:
(Profit)/ Loss on sale/ Discarding of Assets (net) 1,424.96 566.73
Depreciation 6,628.73 5,969.81
Effect of Exchange Rate Change (1.35) -
Interest Income (38.32) (5.20)
Interest and Finance Charges 8.05 16.78
8,022.07 6,548.12
Operating Profit before Working Capital Changes (13,686.90) (28,855.75)
Adjusted for:
Trade and Other Receivables 2,111.99 10,192.58
Inventories (4,074.27) (47.49)
Trade Payables (1,777.16) (121,294.14)
(3,739.44) (111,149.05)
Cash Generated from Operations (17,426.34) (140,004.80)
Taxes Paid (119.12) (176.07)
Net Cash used in Operating Activities (17,545.46) (140,180.87)
B: CASH FLOW FROM INVESTING ACTIVITIES
Purchase of Fixed Assets (10,031.87) (16,379.29)
Sale/ Decapitalisation of Fixed Assets 4,209.12 1,166.10
Purchase of Investments - 5.00
Loan to Subsidiaries (8,010.03) (2,446.47)
Interest Income 38.32 5.20
Net Cash used in Investing Activities (13,794.46) (17,649.46)

C: CASH FLOW FROM FINANCING ACTIVITIES

Proceeds from Long Term Borrowings 198,146.30 182,251.55
Repayment of Long Term Borrowings (165,741.09) (26,384.38)
Interest Paid (8.05) (16.78)
Net Cash from Financing Activities 32,397.16 155,850.39
Net Increase/ (Decrease) in Cash and Cash Equivalents 1,057.24 (1,979.94)
Opening Balance of Cash and Cash Equivalents 736.40 2,716.34
Closing Balance of Cash and Cash Equivalents 1,793.64 736.40

As per our Report of even date For and on behalf of the Board

For Chaturvedi & Shah For S.V.Ghatalia & Associates Raghu Pillai
Chartered Accountants Chartered Accountants Director

Amit Chaturvedi per Sudhir Soni Madhavan Ganesan

Partner Partner Director
Membership No. 103141 Membership No. 41870

Mumbai
Dated : 22nd April, 2010
 Reliance Fresh Limited 9

Schedules forming part of the Balance Sheet

(Rs. in lakh)
SCHEDULE A As at As at
31st March, 2010 31st March, 2009
SHARE CAPITAL

Authorised
50 000 Equity Shares of Rs. 10 each 5.00 5.00
(50 000)
TOTAL 5.00 5.00

Issued, Subscribed, Called up and Paid-up Fully Paid-up

50 000 Equity Shares of Rs. 10 each 5.00 5.00
(50 000)
TOTAL 5.00 5.00

Note:
All the above 50 000 (Previous Year 50 000) Equity Shares of Rs. 10 each are held by Reliance Retail Limited, the holding company
along with its nominees.

(Rs. in lakh)

SCHEDULE B As at As at
31st March, 2010 31st March, 2009
SECURED LOANS
Term Loans from Banks:
Rupee Loans * 58.93 109.25

TOTAL 58.93 109.25

* Loans are secured by hypothecation of vehicles.

(Rs. in lakh)

SCHEDULE C As at As at
31st March, 2010 31st March, 2009
UNSECURED LOANS
Long Term Loan
From holding company 210,028.95 177,573.42

TOTAL 210,028.95 177,573.42

 10

SCHEDULE D
FIXED ASSETS (Rs. in lakh)

Description Gross Block Depreciation Net Block

As at A d d i t i o n s Deductions / As at Upto For the Year D e d u c t i o n s / Upto As at As at
1st April, 2009 A d j u s t m e n t s 31st March, 2010 31st March, 2009 A d j u s t m e n t s 31st March, 2010 31st March, 2010 31st March, 2009

Plant and Machinery 7,818.54 1,760.11 761.85 8,816.80 1,230.93 1,429.14 233.62 2,426.45 6,390.35 6,587.61

Electrical Installations 12,973.77 2,788.07 1,479.73 14,282.11 582.04 694.34 129.52 1,146.86 13,135.25 12,391.73
Reliance Fresh Limited

Equipments 30,858.80 3,566.05 3,361.73 31,063.12 2,245.55 2,465.64 481.53 4,229.66 26,833.46 28,613.25

Furniture and Fixtures 1,238.84 2,009.97 116.15 3,132.66 81.83 162.15 13.32 230.66 2,902.00 1,157.01

Vehicles 168.97 18.49 63.16 124.30 16.05 15.49 11.29 20.25 104.05 152.92

Leasehold Improvements 13,586.81 1,584.19 1,076.49 14,094.51 1,767.22 1,861.97 355.75 3,273.44 10,821.07 11,819.59

Total 66,645.73 11,726.88 6,859.11 71,513.50 5,923.62 6,628.73 1,225.03 11,327.32 60,186.18 60,722.11
Previous year 45,112.08 23,881.24 2,347.59 66,645.73 4.89 5,969.81 51.08 5,923.62 60,722.11 45,107.19
Capital Work-in-Progress 52,887.51 53,931.03
Schedules forming part of the Balance Sheet

Notes:
Capital Work-in-Progress includes:
i) Rs.216.83 lakh (Previous Year Rs. 282.16 lakh) on account of Advance against Project Contracts.
ii) Rs.20,545.50 lakh (Previous Year Rs. 14,688.24 lakh) on account of Project Development Expenditure.
iii) Rs.18,103.70 lakh (Previous Year Rs.17,662.39 lakh) on account of construction materials at site.
 Reliance Fresh Limited 11

Schedules forming part of the Balance Sheet

(Rs. in lakh)
SCHEDULE E As at As at
31st March, 2010 31st March, 2009
INVESTMENTS

LONG TERM INVESTMENTS

Other Investments - Unquoted, fully paid up

In Equity Shares of Subsidiary Companies *

50 000 Delight Proteins Limited of Rs. 10 each 5.00 5.00

(50 000)

50 000 Reliance F & B Services Limited of Rs. 10 each 5.00 5.00

(50 000)

50 000 Retail Concepts & Services (India) Limited of Rs. 10 each 34.00 34.00
(50 000)

50 000 Reliance Petro Marketing Limited of Rs. 10 each 5.00 5.00

(50 000)

TOTAL 49.00 49.00

Aggregate Value of Book value Book value

Unquoted Investments 49.00 49.00

Note:
* Investment in companies under the same manangement.
12 Reliance Fresh Limited

Schedules forming part of the Balance Sheet

(Rs. in lakh)
SCHEDULE F As at As at
31st March, 2010 31st March, 2009

CURRENT ASSETS
INVENTORIES

Stores and Packing Materials 816.19 1,160.11

Traded Goods 20,650.87 16,232.68
21,467.06 17,392.79

(1)
SUNDRY DEBTORS (Unsecured and Considered Good)

Over six months 106.90 -

Others 5,114.97 5,536.86

5,221.87 5,536.86

CASH AND BANK BALANCES

Cash in Hand 481.91 424.99

Balance with Scheduled Banks

In Current Accounts 1,304.53 304.31

In Fixed Deposit Accounts 7.20 7.10

1,793.64 736.40

TOTAL 28,482.57 23,666.05

Note:
(1)
Includes Rs. 3,451.19 lakh (Previous Year Rs. 2,705.65 lakh) receivable from the following companies under the same management:

a Delight Proteins Limited

b Reliance Agri Product Distribution Limited
c Reliance Autozone Limited
d Reliance Corporate IT Park Limited
e Reliance Hypermart Limited
f Reliance Trends Limited
g Reliancedigital Retail Limited
h Reliance-Grand Vision India Supply Private Limited
i Reliance-Vision Express Private Limited
j Retail Concepts & Services (India) Limited
 Reliance Fresh Limited 13

Schedules forming part of the Balance Sheet

(Rs. in lakh)
SCHEDULE G As at As at
31st March, 2010 31st March, 2009

LOANS AND ADVANCES

UNSECURED - (Considered good unless otherwise stated)

Loans to Subsidiary Companies 10,267.30 2,257.27

Advance Income Tax (net of Provision) 637.45 518.33

(1)
Advances Recoverable in Cash or in kind or for value to be received 2,206.50 2,729.59

Deposits 5,936.81 6,656.15

Balance with Service Tax/ Sales Tax Authorities, etc. 2,004.76 2,559.33

TOTAL 21,052.82 14,720.67

Note:
(1)
Includes Rs. 48.60 lakh (Previous Year Rs. Nil) receivable from the following companies under the same management.
Maximum balance receivable during the year Rs. 48.60 lakh (Previous Year Rs. Nil).

a Reliance Agri Product Distribution Limited

b Reliance Food Processing Solution Limited
c Reliance Home Store Limited
d Reliance Wellness Limited
14 Reliance Fresh Limited

Schedules forming part of the Balance Sheet

(Rs. in lakh)
SCHEDULE H As at As at
31st March, 2010 31st March, 2009
CURRENT LIABILITIES AND PROVISIONS

Current Liabilities

Sundry Creditors

(1)
- Micro enterprises and Small enterprises - -

(2)
- Others 13,312.94 14,204.25

Interest accrued but not due on loans 0.40 -

13,313.34 14,204.25
Provisions

Provision for Leave Encashment/ Gratuity 549.78 785.89

TOTAL 13,863.12 14,990.14

Note:
(1)
The Company has not received the required information from Suppliers regarding their status under the Micro, Small and
Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the year end together
with interest paid/ payable as required under the said Act have not been made.

(2)
Includes Rs. 4.40 lakh (Previous Year Rs. Nil) payable to Subsidiary company and Rs.887.23 lakh (Previous Year Rs. 235.74
lakh) for capital expenditure.
 Reliance Fresh Limited 15

Schedules forming part of the Profit and Loss Account

SCHEDULE I (Rs. in lakh)

2009-10 2008-09

OTHER INCOME

Interest

From Others 38.32 5.20

[Tax deducted at source Rs. 529 (Previous Year Rs. Nil)]

Miscellaneous Income 90.16 127.27

TOTAL 128.48 132.47

SCHEDULE J (Rs. in lakh)

2009-10 2008-09

VARIATION IN STOCKS

STOCK-IN-TRADE (at close)

Traded Goods 20,650.87 16,232.68

STOCK-IN-TRADE (at commencement)

Traded Goods 16,232.68 17,200.48

TOTAL 4,418.19 (967.80)

16 Reliance Fresh Limited

Schedules forming part of the Profit and Loss Account

SCHEDULE K (Rs. in lakh)

2009-10 2008-09
PAYMENT TO AND PROVISIONS FOR EMPLOYEES
Salaries, Wages and Bonus 3,076.82 2,530.63
Contribution to Provident Fund, Gratuity Fund,
Superannuation Fund, Employee's State Insurance Scheme,
Pension Scheme,Labour Welfare Fund etc. 309.96 168.51
Employee Welfare and other amenities 541.03 325.82
3,927.81 3,024.96
SALES AND DISTRIBUTION EXPENSES
Samples, Sales Promotion and Advertisement Expenses 1,339.98 1,677.25
Store Running Expenses 5,085.38 5,157.38
Brokerage, Discount and Commission 1.24 1.70
Warehousing and Distribution Expenses 5,430.25 3,136.09
Sales Tax 6.75 28.47
11,863.60 10,000.89
OPERATING AND ESTABLISHMENT EXPENSES
Stores and Packing Materials 2,482.44 3,030.27
Machinery Repairs 570.11 18.31
Building Repairs and Maintenance 1,766.42 2,560.18
Other Repairs 175.05 252.96
Rent including Lease Rentals 10,143.10 11,261.10
Insurance 61.32 27.64
Rates and Taxes 815.91 1,218.16
Travelling and Conveyance Expenses 147.19 226.16
Payment to Auditors 6.82 6.00
Professional Fees 235.23 234.27
Loss on Sale/ Discarding of Assets 1,424.96 565.71
Exchange Differences (Net) (11.41) 24.26
Security Expenses 1,520.23 1,711.84
Electricity Expenses 5,435.01 5,737.83
Telephone Expenses 437.08 428.52
Printing and Stationery 90.33 112.09
Hire Charges 487.50 477.22
General Expenses 207.74 1,332.61
Charity and Donation 0.30 0.48
25,995.33 29,225.61
TOTAL 41,786.74 42,251.46

SCHEDULE L (Rs. in lakh)

INTEREST AND FINANCE CHARGES
Fixed Loans 7.78 15.92
Others 0.27 0.86
TOTAL 8.05 16.78
 Reliance Fresh Limited 17

Schedules forming part of the Balance Sheet

SCHEDULE M
SIGNIFICANT ACCOUNTING POLICIES
1 Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention in accordance with the generally accepted accounting
principles in India, Companies (Accounting Standards) Rules 2006 and the provisions of the Companies Act, 1956.
2 Use of Estimates
The preparation of financial statements requires estimates and assumptions to be made that affect the reported amount of the
assets and liabilities on the date of the financial statements and the reported amount of revenues and expenses during the
reporting period. Difference between the actual results and estimates are recognised in the period in which the results are known/
materialised.
3 Fixed Assets
Fixed Assets are stated at cost net of CENVAT/ Value Added Tax less accumulated depreciation and impairment loss, if any. All
costs attributable to Fixed Assets are capitalised. Capital Work-in-progress is stated at the amount incurred up to the date of
Balance Sheet. Improvement cost on Lease premises up to the date of commercial operation is capitalised as “Leasehold
Improvements”.
4 Depreciation
Depreciation on Fixed Assets is provided on Straight Line Method at the rates and in the manner prescribed in Schedule XIV to
the Companies Act, 1956 over their useful life except, leasehold improvements are amortised over the lower of estimated useful
life or lease period; fire alarm system, signage and access control system are depreciated over the estimated useful life of five
years and baskets are depreciated over the estimated useful life of three years.
5 Impairment of Assets
An asset is treated as impaired when the carrying cost of assets exceeds its recoverable value. An impairment loss is charged to
the Profit and Loss Account in the year in which an asset is identified as impaired. The impairment loss recognised in prior
accounting period is reversed if there has been a change in the estimate of recoverable amount.
6 Lease Rentals
Operating lease rentals are expensed with reference to lease terms and other considerations.
7 Foreign Currency Transactions
a) Transactions denominated in foreign currencies are recorded at the exchange rate prevailing on the date of the transaction
or that approximates the actual rate at the date of the transaction.
b) Monetary items denominated in foreign currencies at the year end are restated at year end rates.
c) Non monetary foreign currency items are carried at cost.
d) Any income or expense on account of exchange difference either on settlement or on translation is recognised in the Profit
and Loss Account except in case of long term liabilities, where they relate to acquisition of fixed assets, in which case they
are adjusted to the carrying cost of such assets.
8 Investments
Current investments are carried at the lower of cost and quoted/ fair value, computed category wise. Long Term Investments are
stated at cost. Provision for diminution in the value of Long Term Investments is made only if such a decline is other than
temporary.
9 Inventories
Items of Inventories are measured at lower of cost and net realisable value, after providing for obsolescence, if any. Cost of
Inventory comprises of all cost of purchase and other cost incurred in bringing them to the respective present location and
conditions. Costs are determined on weighted average basis.
18 Reliance Fresh Limited

Schedules forming part of the Balance Sheet

SCHEDULE M (Contd.)

10 Turnover
Turnover includes sale of goods, service and service tax, adjusted for discounts (net) and Value Added Tax (VAT), if any.
11 Employee Benefits
i) Short term employee benefits are recognised as an expense at the undiscounted amount in the Profit and Loss Account of
the year in which the related service is rendered.
ii) Post employment and other long term employee benefits are recognised as an expense in the Profit and Loss Account for
the year in which the employee has rendered services. The expense is recognised at the present value of the amounts
payable determined using actuarial valuation techniques. Actuarial gains and losses in respect of post employment and
other long term benefits are charged to the Profit and Loss Account.
12 Provision for Current and Deferred Tax
Provision for current tax is made after taking into consideration benefits admissible under the provisions of the Income-tax Act,
1961. Deferred tax resulting from "timing difference" between taxable and accounting income is accounted for using the tax rates
and laws that are enacted or substantively enacted as on the Balance Sheet date. The deferred tax asset is recognised and carried
forward only to the extent that there is a virtual certainty that the asset will be realised in future.
13 Provision, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation as a result
of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognised but are
disclosed in the notes. Contingent Assets are neither recognised nor disclosed in the financial statements.
 Reliance Fresh Limited 19

Schedules forming part of the Balance Sheet

SCHEDULE N
NOTES ON ACCOUNTS
1 The previous year’s figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Amounts and other
disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in
relation to the amounts and other disclosures relating to the current year.
2 The Company is in the process of setting up various facilities for conducting its business. The expenditure incurred during the
implementation period for bringing the Project in the condition of its intended use, is treated as “Project Development
Expenditure” pending capitalisation and included in Capital Work-in-Progress. Capitalisation is done in the ratio of phased
implementation. The neccesary details as per Part II of Schedule VI to the Companies Act, 1956 have been disclosed below:
Project Development Expenditure Account (included under Capital Work-in-Progress):
(Rs. in lakh)
2009-10 2008-09
Opening Balance 14,688.24 5,662.36
Add:
(i) Payments to and Provisions for Employees
- Salaries, Wages and Bonus 4,205.39 5,771.12
- Contribution to Provident Fund, Gratuity Fund, 215.06 244.00
Superannuation Fund, Pension Scheme etc.
- Employee Welfare and other amenities 241.05 375.46
4,661.50
(ii) Repairs and Maintenance
- Machinery 15.21 5.58
- Building 187.51 209.01
- Other 283.13 403.09
(iii) Insurance 81.43 146.40
(iv) Rent including Lease Rentals 267.73 1,970.70
(v) Rates and Taxes 40.19 156.66
(vi) Travelling and Conveyance Expenses 121.91 586.46
(vii) Professional Fees 232.41 381.45
(viii) Hire Charges 32.34 126.38
(ix) Electricity Expenses 21.90 179.85
(x) Telephone Expenses 74.86 141.23
(xi) Printing and Stationery 10.99 44.01
(xii) General Expenses 48.14 720.08
(xiii) Net Loss on Sale of Assets - 13.81
6,079.25 11,475.29
Less:
Other Interest - 0.60

Less:
Capitalised during the year 221.99 2,448.81

Closing Balance 20,545.50 14,688.24

3 Turnover includes Income from Services of Rs.1378.10 lakh (Previous year Rs. 299.84 lakh)
4 The Company is mainly engaged in ‘Organised Retail’ in India. All the activities of the Company revolve around this main
business. Accordingly, the Company has only one identifiable segment reportable under Accounting Standard 17 “Segment
Reporting”, notified in the Companies (Accounting Standards) Rules 2006.
5 As per Accounting Standard 15 “Employee Benefits” notified in the Companies (Accounting Standards) Rules 2006, the
disclosures of employee benefits as defined in the Accounting Standard are given below:
20 Reliance Fresh Limited

Schedules forming part of the Balance Sheet

SCHEDULE N (Contd.)

Defined Contribution Plan (Rs. in lakh)

Contribution to Defined Contribution Plan, recognised are charged off/ capitalised for the year are as under:
2009-10 2008-09
Employer’s Contribution to Provident Fund 229.98 264.92
Employer’s Contribution to Superannuation Fund 0.42 -
Employer’s Contribution to Pension Scheme 84.86 99.53
Defined Benefit Plan
The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which
recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit
separately to build up the final obligation. The obligation for leave encashment is recognised in the same manner as gratuity.The
Company operates post retirement benefit plans as follows:
I. Reconciliation of opening and closing balances of Defined Benefit obligation
(Rs. in lakh)
Gratuity Leave Encashment
(Unfunded) (Unfunded)
2009-10 2008-09 2009-10 2008-09
Defined Benefit obligation at beginning of the year 123.96 232.18 662.35 525.75
Current Service Cost 85.37 54.06 58.28 141.16
Interest Cost 9.22 18.57 23.08 36.86
Actuarial (gain)/ loss 78.31 (180.85) 220.55 88.55
Benefits paid (2.14) - (709.20) (129.97)
Defined Benefit obligation at year end 294.72 123.96 255.06 662.35

II. Reconciliation of fair value of assets and obligations

(Rs. in lakh)
Gratuity Leave Encashment
(Unfunded) (Unfunded)
2009-10 2008-09 2009-10 2008-09
Fair value of plan assets - - - -
Present value of obligation 294.72 123.96 255.06 662.35
Amount recognised in Balance Sheet 294.72 123.96 255.06 662.35
 Reliance Fresh Limited 21

Schedules forming part of the Balance Sheet

SCHEDULE N (Contd.)

III. Expenses recognized during the year (Rs. in lakh)

Gratuity Leave Encashment
(Unfunded) (Unfunded)
2009-10 2008-09 2009-10 2008-09
Current Service Cost 85.37 54.06 58.28 141.16
Interest Cost on benefit obligation 9.22 18.57 23.08 36.86
Expected Return on Plan Assets - - - -
Past service Cost - - - -
Actuarial gain/ (loss) recognized in the year 78.31 (180.85) 220.55 88.55
Net benefit expense/ (Income) 172.90 (108.22) 301.91 266.57
IV. Actuarial assumptions
Gratuity Leave Encashment
(Unfunded) (Unfunded)
2009-10 2008-09 2009-10 2008-09
Discount rate (per annum) 7.50% 8.00% 7.50% 8.00%
Expected rate of return on assets (per annum) - - - 8.00%
Rate of escalation in salary (per annum) 6.00% 4.00% 6.00% 4.00%
The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority,
promotion and other relevant factors including supply and demand in the employment market. The above information is
certified by the actuary.
6 Payment to Auditors (excluding Service Tax, wherever applicable): (Rs. in lakh)
2009-10 2008-09
(i) Audit Fees 5.00 5.00
(ii) Tax Audit Fees 1.00 1.00
(iii) Expenses Reimbursed 0.10 -
6.10 6.00
7 The Deferred Tax Assets (net) comprise of the following: (Rs. in lakh)
As at As at
31st March, 2010 31st March, 2009
(i) Deferred Tax Assets
- Disallowance under the Income Tax Act, 1961 165.12 211.01
- Carried forward loss 29,864.42 18,760.01
(ii) Deferred Tax Liability
- Related to Fixed Assets 9,924.81 7,058.85
20,104.73 11,912.17
Note: The virtual certainty is based on agreements.
22 Reliance Fresh Limited

Schedules forming part of the Balance Sheet

SCHEDULE N (Contd.)

8 Earnings Per Share (EPS)

2009-10 2008-09
(i) Net Profit/ (Loss) after tax as per Profit and Loss Account (Rs. in lakh) (13,516.41) (24,930.31)
(ii) Weighted Average number of equity shares used as denominator for calculating EPS 50 000 50 000
(iii) Basic and Diluted Earnings/ (Loss) per share of face value of Rs. 10 each (Rupees) (27,032.82) (49,860.62)
9 General description of Lease Terms:
(i) Lease rentals are charged on the basis of agreed terms.
(ii) Assets are taken on lease over a period of 1 to 25 years.
10 Value of Imports on CIF basis in respect of: (Rs. in lakh)
2009-10 2008-09
(i) Traded Goods 1,367.40 1,241.07
(ii) Capital goods 1.41 323.33
11 Additional Information (to the extent applicable):
(Rs. in lakh)
As at As at
31st March, 2010 31st March, 2009
(i) Capital Commitments:
Estimated amount of contracts remaining to be executed on capital accounts 263.62 526.68
(net of advances) and not provided for
(ii) Contingent Liabilities:
Outstanding guarantees furnished to Banks and Financial Institutions 616.83 521.85
including in respect of Letters of Credit
12 Value of Stores and Packing Materials Consumed
2009-10 2008-09
% % of
Rs. in lakh of Consumption Rs. in lakh Consumption

Indigenous 2,482.44 100 3,030.27 100

 Reliance Fresh Limited 23

Schedules forming part of the Balance Sheet

SCHEDULE N (Contd.)

13 Quantitative Details :
The Company has made an application to the Central Government seeking exemption from presenting the information as per
paras 3(i)(a) and 3(ii)(b) of Part II of Schedule VI to the Companies Act, 1956. Pending receipt of the approval granting the
above exemption, details are being furnished to the extent practicable and giving meaningful information keeping in view the
heterogeneous nature and non-uniform units of measurement of items purchased and sold.
(Rs. in lakh)
Sr. Category Opening Stock Purchases Sales Closing Stock
Nos. Amount Nos. Amount Nos. Amount Nos. Amount
(i) Fresh Fruits & Vegetables - 623.19 - 34,587.47 - 45,181.16 - 834.71
- (1,613.68) - (31,192.49) - (38,176.08) - (623.19)
(ii) Staples - 4,741.75 - 50,543.81 - 55,499.83 - 5,531.43
- (4,965.65) - (49,529.39) - (50,113.98) - (4,741.75)
(iii) Processed Food - 1,142.83 - 14,567.26 - 16,122.33 - 1,389.98
- (1,345.59) - (11,496.42) - (12,771.76) - (1,142.83)
(iv) Beverages - 1,376.99 - 17,657.87 - 18,522.84 - 1,668.08
- (1,522.89) - (12,563.24) - (13,308.15) - (1,376.99)
(v) Dairy - 935.93 - 19,804.63 - 21,123.96 - 1,215.61
- (1,024.64) - (18,940.47) - (19,862.72) - (935.93)
(vi) Personal Care - 1,590.71 - 15,083.46 - 15,544.34 - 2,762.77
- (1,818.33) - (10,656.85) - (11,418.26) - (1,590.71)
(vii) Home Care - 847.26 - 10,172.91 - 11,378.80 - 1,212.48
- (678.30) - (7,711.26) - (8,367.39) - (847.26)
(viii)Others - 4,974.02 - 23,688.03 - 23,647.61 - 6,035.81
- (4,231.40) - (22,020.72) - (23,462.15) - (4,974.02)
Total - 16,232.68 - 1,86,105.44 - 207,020.87 - 20,650.87
- (17,200.48) - (164,110.84) - (177,480.49) - (16,232.68)
14 As per Accounting Standard 18 ‘Related Party Disclosures’, notified in the Companies (Accounting Standards) Rules 2006,
the disclosures of transactions with the related parties as defined in the Accounting Standard are given below :
(i) List of related parties with whom transactions have taken place and relationships:
Sr No Name of the Related Party Relationship
1 Reliance Industries Limited Ultimate Holding Company

2 Reliance Retail Limited Holding Company

3 Delight Proteins Limited }

4 LPG Infrastructure India Limited }
5 Reliance F&B Services Limited } Subsidiaries
6 Reliance Petro Marketing Limited }
7 Retail Concepts & Services (India) Limited }
24 Reliance Fresh Limited

Schedules forming part of the Balance Sheet

SCHEDULE N (Contd.)

SrNo Name of the Related Party Relationship

8 Reliance Agri Products Distribution Limited }
9 Reliance Autozone Limited }
10 Reliance Corporate IT Park Limited }
11 Reliance Dairy Foods Limited }
12 Reliance Digital Media Limited }
13 Reliance Food Processing Solutions Limited }
14 Reliance Footprint Limited }
15 Reliance Home Store Limited }
16 Reliance Hypermart Limited }
17 Reliance Leisures Limited } Fellow Subsidiaries
18 Reliance Loyalty & Analytics Limited }
19 Reliance Polyolefins Limited }
20 Reliance Retail Insurance Broking Limited }
21 Reliance Supply Chain Solutions Limited }
22 Reliance Trade Services Centre Limited }
23 Reliance Trends Limited }
24 Reliance Wellness Limited }
25 Reliancedigital Retail Limited }
26 RESQ Limited }
27 Strategic Manpower Solutions Limited }
(ii) Transactions during the year with related parties (excluding reimbursements):
(Rs. in lakh)
Sr No Nature of Transactions Ultimate Holding Subsidiaries Fellow Total
Holding Company Subsidiaries
Company
1 Unsecured Loans taken/ (repaid) - 32,455.52 - - 32,455.52
- 155,974.42 - - 155,974.42
2 Loans and advances given/ (returned) - - 8,010.03 44.62 8,054.65
- - 1,907.20 (994.79) 912.41
3 Turnover 72.71 0.42 7,312.90 28,440.48 35,826.51
132.94 842.89 5,446.31 10,580.44 17,002.58
4 Purchases - 20.48 37.84 22,913.01 22,971.33
- 7,186.66 - 35,030.90 42,217.56
5 Expenditure
- Warehousing and - - - 5,293.12 5,293.12
Distribution Expenses
- - - 7,625.64 7,625.64
- Store Running Expenses - - - 3,639.28 3,639.28
- - - 1,940.81 1,940.81
 Reliance Fresh Limited 25

Schedules forming part of the Balance Sheet

SCHEDULE N (Contd.)
(Rs. in lakh)
Sr No Nature of Transactions Ultimate Holding Subsidiaries Fellow Total
Holding Company Subsidiaries
Company
- General Expenses - - - - -
- - - 124.68 124.68
Balance as at 31st March, 2010
6 Share Capital - 5.00 - - 5.00
- 5.00 - - 5.00
7 Unsecured Loan - 210,028.94 - - 210,028.94
- 177,573.42 - - 177,573.42
8 Investments - - 49.00 - 49.00
- - 49.00 - 49.00
9 Loans and Advances - - 10,267.30 48.60 10,315.90
- - 2,257.27 3.98 2,261.25
10 Sundry Debtors 123.43 - 932.08 2,506.74 3,562.25
84.39 - 90.79 1,057.77 1,232.95
11 Sundry Creditors - 32.33 4.40 1,036.30 1,073.03
- 91.82 - 590.97 682.79
12 Financial Guarantees taken - 616.83 - - 616.83
- 521.85 - - 521.85
Note: Figures in italics represents previous year’s amount.
Disclosure in respect of material Related Party Transactions during the year:
1 Unsecured Loan taken include from Reliance Retail Limited Rs. 32,455.52 lakh (Previous Year Rs. 155,974.42 lakh) .
2 Loans and advances given include to Retail Concepts & Services (India) Limited Rs. 7,191.19 lakh (Previous Year
Rs.1023.50 lakh), Delight Proteins Limited Rs. 788.66 lakh (Previous Year Rs. 686.01 lakh) and Reliance F&B Services
Limited Rs. 30.19 lakh (Previous Year Rs. 197.12 lakh).
3 Turnover include to Reliance Retail Limited Rs. 0.42 lakh (Previous Year Rs. 842.88 lakh), Retail Concepts & Services
(India) Limited Rs. 7,265.95 lakh (Previous Year Rs. 5425.89 lakh) and Reliance Hypermart Limited Rs. 24,245.71 lakh
(Previous Year Rs. 9,530.97 lakh).
4 Purchases include from Reliance Retail Limited Rs. 20.48 lakh (Previous Year Rs. 7,186.66 lakh), Reliance Wellness
Limited Rs.10,376.72 lakh (Previous Year Rs.18,246.98 lakh), Reliance Home Stores Limited Rs. 2,684.94 lakh
(Previous Year Rs. 6,631.43 lakh ), Reliancedigital Retail Limited Rs. 266.16 lakh (Previous Year Rs. 1,382.24 lakh),
Reliance Trends Limited Rs. 293.11 lakh (Previous Year Rs. 1,697.12 lakh) and Reliance Dairy Foods Limited Rs.
5,138.92 lakh (Previous Year Rs. Nil).
5 Store Running expenses include Strategic Manpower Solutions Limited Rs. 3,639.28 lakh (Previous Year Rs. 1,940.81
lakh).
6 Warehousing and Distribution expenses include Reliance Supply Chain Solution Limited Rs. 5,293.12 lakh (Previous
Year Rs. 7,625.64 lakh).
26 Reliance Fresh Limited

Schedules forming part of the Balance Sheet

SCHEDULE N (Contd.)

15 Loans and advances in the nature of Loans given to Subsidiaries :

(Rs. in lakh)
Sr. Name of the Company As at 31st As at 31st Maximum
No. March, 2010 March 2009 balances
During
the year
1 Delight Proteins Limited 290.11 833.84 261.61
2 Reliance F&B Services Limited 1,622.50 259.93 834.74
3 Retail Concept & Services ( India) Limited 8,354.69 1,163.50 2,225.00
Notes:
(i) Loans and Advances shown above, to Subsidiaries fall under the category of ‘Loans & Advances’ in nature of Loans where
there is no repayment schedule and are re-payable on demand.
(ii) All the above loans and advances are interest free.
(iii) Loans to employees as per Company’s policy are not considered.
(iv) All the above loans/ advances are to the companies under the same management.
16 Expenditure in Foreign Currency:
(Rs. in lakh)
2009-10 2008-09
(i) Travelling and Conveyance Expenses 2.19 -
(ii) Other Repairs 4.77 -
(iii) Other matters - 0.92
6.96 0.92
17 Foreign currency exposures that are not hedged by derivative instruments as on 31st March, 2010 amount to Rs. 17.93 lakh
(Previous Year Rs. Nil).
18 Information as required under para 3, 4 and 4A to 4D of part II of schedule VI of Companies Act, 1956 are given to the extent
applicable.

As per our Report of even date For and on behalf of the Board

For Chaturvedi & Shah For S.V.Ghatalia & Associates Raghu Pillai
Chartered Accountants Chartered Accountants Director

Amit Chaturvedi per Sudhir Soni Madhavan Ganesan

Partner Partner Director
Membership No. 103141 Membership No. 41870

Mumbai
Dated : 22nd April, 2010
 Reliance Fresh Limited 27

Additional information as required under part IV of Schedule VI to the Companies Act, 1956
Balance Sheet Abstract and Company’s General Business Profile:

I. Registration Details:

CIN U 0 1 1 0 0 M H 1 9 9 9 P L C 1 2 0 5 6 3

Balance Sheet Date: 3 1 - 0 3 - 2 0 1 0 State Code: 1 1

II. Capital raised during the year (Amount in Rs. lakh):

Public Issue: N I L Rights Issue: N I L

Bonus Issue: N I L Private Placement: N I L

III. Position of Mobilisation and Deployment of Funds (Amount in Rs. lakh):

Total Liabilities: 2 2 3 9 5 6 0 0 Total Assets: 2 2 3 9 5 6 0 0

Sources of Funds: Application of Funds:

Paid up Capital: 5 0 0 Fixed Assets: 1 1 3 0 7 3 6 9

Reserves & Surplus: N I L Investments 4 9 0 0

Secured Loans: 5 8 9 3 Deferred Tax Assets: 2 0 1 0 4 7 3

Unsecured Loan: 2 1 0 0 2 8 9 5 Current Assets: 4 9 5 3 5 3 9

Current Liabilities: 1 3 8 6 3 1 2 Miscellaneous Expenditure N I L

Accumulated Losses: 4 1 1 9 3 1 9

IV. Performance of the Company (Amount in Rs. lakh):

Turnover: 2 0 8 2 7 3 3 2 Total Expenditure: 2 3 4 5 2 8 9 6

Profit/Loss Before Tax: ( 2 1 7 0 8 9 7 ) Profit/Loss After tax: ( 1 3 5 1 6 4 1 )

Earning per share in Rs: Dividend Rate: N I L

- Basic ( 2 7 0 3 2 . 8 2 )

- Diluted ( 2 7 0 3 2 . 8 2 )

V. Generic Names of principal services of the company:

Item Code number N A

Product Description NA
 28
Statement Pursuant to Section 212 of the Companies Act, 1956, relating to Company’s Interest in Subsidiary Companies for the financial year 2009-
2010
Sr. Name of Retail Concepts Reliance F&B Delight Proteins Reliance LPG Infrastructure
No. Subsidiary Company & Services (India) Services Limited Limited Petro Marketing (India) Limited
Limited Limited
1 The financial year of the 31st March, 2010 31st March, 2010 31st March, 2010 31st March, 2010 31st March, 2010
Subsidiary Company ended on
2 Date from which it became 27 November 2007 27 November 2007 27 November 2007 31 March 2009 31 March 2009
Subsidiary Company
3 a. Number of shares held by 50,000 Equity shares 50,000 Equity shares 50,000 Equity shares 50,000 Equity shares 45,000 Equity shares
Reliance Fresh Limited with of the face value of of the face value of of the face value of of the face value of of the face value of
Reliance Fresh Limited

its nominees in the subsidiary Rs.10 each fully Rs.10 each fully Rs.10 each fully Rs.10 each fully Rs.10 each fully
at the end of the financial year. paid-up paid-up paid-up paid-up paid-up
b. Extent of interest of holding company 100% 100% 100% 100% 100%
at the end of the financial year.
4 The net aggregate amount of the
Subsidiary Company’s Profit/(Loss)
so far as it concerns the members of
the holding Company.
a. Not dealt with in the holding
Company’s accounts.
i) For the financial year ended (Rs.182.22 lakh) (Rs.25.75 lakh) (Rs.106.39 lakh) Rs.9.51 lakh Rs.115.29 lakh
31st March, 2010
ii) For the previous financial years (Rs.3031.86 lakh) (Rs.189.25 lakh) (Rs.362.51 lakh) NIL NIL
of the subsidiary company since
it became the holding
Company’s subsidiary.
b. Dealt with in holding
company’s account:
i) For the financial year ended NIL NIL NIL NIL NIL
31st March, 2010
ii) For the previous financial years NIL NIL NIL NIL NIL
of the subsidiary company since
it became the holding
Company’s subsidiary.
For and on behalf of the Board
Raghu Pillai Madhavan Ganesan
Director Director
Mumbai
Dated : 22nd April, 2010