Professional Documents
Culture Documents
coop
Annual Report
2019-20
Contents
Objectives 05
Board of Directors 06
Regular Members 08
Institutional Member 09
Associate Members 09
Balance Sheet 48
Ahmedabad
NCDFI, Near Gandhi Ashram
Ashram Road, Ahmedabad 380 027
Phone: +91-79-27557620 Fax: 27556088
Amul Dairy Road, Anand 388 001
Chennai
NCDFI, 7-9, R. K. Complex
Opp. KVK Mahal, Vaniyanchithiram, Chennai 600 052
Phone: +91-7092922400
Rae Bareilly
NCDFI, Post Box 01, Salon 229 127
Phone: +91-5311-274566
Rahuri
NCDFI, Nagar Manmad Highway
Ahmednagar District, Maharashtra 413 722
NCDFI
State Milk Federations (27)
Objectives
To promote the dairy industry and the oilseeds,
vegetable / edible oil and vanaspati industry and other commodities on cooperative lines; and
To coordinate, help, develop and facilitate the working of the dairy and oilseeds growers’
cooperatives and a liated organisations dealing in commodities.
Bihar State Cooperative Milk Chhattisgarh State Cooperative Gujarat Cooperative Milk
Producers’ Federation Ltd Dairy Federation Ltd Marketing Federation Ltd
Haryana Dairy Development Jharkhand State Cooperative Milk Karnataka Cooperative Milk
Cooperative Federation Ltd Producers’ Federation Ltd Producers’ Federation Ltd
Pradeshik Cooperative
Dairy Federation Ltd
Maharashtra Rajya Sahakari Pondicherry Cooperative Milk
Dudh Mahasangh Maryadit Producers’ Union Ltd
West Assam
Milk Producers’
Cooperative Union Ltd
Tamilnadu Cooperative Milk West Bengal Cooperative Milk
Producers’ Federation Ltd Producers’ Federation Ltd
Associate Members
Jammu & Kashmir Milk Manipur Milk Producers’ Orissa State Cooperative
Producers’ Cooperative Ltd Cooperative Union Ltd Milk Producers’ Federation Ltd
Hon'ble Members,
On behalf of Board of Directors, I welcome you all to Amul, Mahanand, Nandini, Saras, Verka, Visakha, and
the 50 annual general meeting of NCDFI. Warana brand UHT Milk were supplied to MoD. Milk
th
I now present before you the Annual Report and the product supplies were allocated to Bengaluru,
Audited Statement of Accounts of your federation Indore, Kaira, Ludhiana, Mehsana, Patiala,
for the year 2019-20. Sangamner, and Warana Milk Unions; Mother Dairy
Bengaluru and Nandini Hi-Tech Plant. We are proud
During the year 2019-20, NCDFI continued to to mention here that 110 cooperative dairies spread
coordinate the sale of milk and milk products to across the country participated in the milk and milk
Institutions; facilitated online transactions of various products supply. Contracts concluded during the
commodities at NCDFI eMarket; and worked for year were worth of ₹ 1,294 crores.
genetic improvement of the cattle. NCDFI also
continued to utilize part of its surplus in the
Product-wise Quantities and Value
developmental activities.
Product Quantity (MT) Total Value (₹ in Cr)
Institutional Sale
Long Shelf Life Milk Products
NCDFI coordinates the supply of milk and milk Whole Milk Powder 686 25.94
products by dairy cooperatives across the country to
Butter Tinned 947 41.57
the Institutions such as the Ministry of Defence
(MoD), Indo-Tibetan Border Police (ITBP), and Indian Desi Ghee 265 12.36
Besides the sale of milk and milk products, NCDFI eMarket also facilitates the procurement of all required agri
commodities for cattle feed plants. During the year, 47 cooperative cattle feed plants in the states of Andhra
Pradesh, Bihar, Gujarat, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha,
Tamil Nadu, Telangana, and West Bengal procured required cattle feed ingredients through NCDFI eMarket. These
ingredients included 2,60,825 MT Rice Bran/Polish, 2,04,664 MT Maize, 26,345 MT Cotton Seed Meal, 22,705 MT
Mustard Meal, 11,930 MT Wheat, 9,525 MT Coconut Meal, etc. A large and diversified supplier base facilitates the
cooperatives to get the required raw materials in time with competitive prices. Hence, many cattle feed plants are
in the process to procure raw materials through NCDFI eMarket.
Other Products
NCDFI eMarket additionally offered support for procurement of Sugar, Edible Oils, Packing Materials, Compound
Cattle Feed, Fodder Seeds, Chemicals apart from Scrap sales, and also concluded Service Contracts such as Hiring
of Labour, Transport, Godown Hiring, Canteen Services, etc.
Increased Transparency
We are consistently making efforts to update the Android application and have released updated versions of
NCDFI eMarket App periodically which enabled the users to remain updated with customized auction
information on a real-time basis. Further, NCDFI eMarket is publishing the results of eAuction in monthly 'Activity
Report' which is circulated to all members and is also available on the mobile application and website of NCDFI
eMarket. It gives larger publicity to the concluded trades and prices for different products apart from the
information on newly introduced commodities and services on NCDFI eMarket platform which further helps
cooperative buyers to get the products and services at much competitive prices.
The total registered members on NCDFI eMarket platform were 1,789 as on March 31, 2020 represent the
participation from across the country. During the year, NCDFI arranged member meets at Mumbai,
Chennai and Erode to have their valuable inputs. Further, a meeting with the senior officials of the
Mother Dairy Delhi was convened at Anand to deliberate on extending the services of NCDFI eMarket.
NCDFI also participated in the 48 Dairy Industry Conference at Jaipur where it had an exhibition stall for
th
Considering a larger and diversified member base, I urge the cooperatives to actively utilize the services
of NCDFI eMarket.
1789
1800
1500
Number of Members
1200
905
900
612
600
390
300 171
0
March - 16 March - 17 March - 18 March - 19 March - 20
Transacted Value
During the year, total business transactions at NCDFI eMarket were to the tune of ₹ 2,047 crores
consisting of value-added dairy products worth of ₹ 595 crores, liquid milk worth of ₹ 208 crores, cattle
feed ingredients worth of ₹ 1,110 crores and ₹ 134 crores worth of other products.
2400
2047 FY 17-18
2000
FY 18-19
1600
₹ in Crores
FY 19-20
1200 1110
1010
903
803
800
516 498
479
400 374
99
14 35 13 19
0
Dairy Agri/Minerals Sugar Others Total
These semen stations are equipped with the advanced and modern Semen Production facilities in the country
with sophisticated semen processing equipment adhering to stringent quality control tests. The semen straws
produced by these semen stations are marketed under the common brand name of 'SAG' which stands for
Superior Animal Genetics.
During the year 2019-20, combined sale from all these semen stations was 3.10 crore FSDs valued at ₹ 61 crores.
3500 3402
3000
2500
2057 2177
2000
₹ in Crores
1543
1500
1006
1000
624
521
500 359
452 488
0
2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20
NCDFI arrange AI Technician Meets, Stalls at Farmer Fairs, Training Programs, Farmer Meets, Seminars, Workshops,
Cooperative Conclaves, and Management Development Programs based on the industry need assessment.
To supplement the income of dairy farmers by adopting organic and biodynamic farming, NCDFI and the National
Dairy Development Board (NDDB) jointly organized 5 days of training on Biodynamic Farming and Vegetable
Production at Bhaikaka Krishi Kendra, Anand for dairy farmers of North East region. Three batches were conducted
for 98 dairy farmers from the states of Sikkim, West Assam, West Bengal, Tripura, and Manipur.
NCDFI sponsored a 3-day Management Development Program (MDP) in association with the Institute of Rural
Management, Anand (IRMA) for the Managing Directors and Senior Officers involved in NCDFI eMarket activities
of member dairy cooperatives on the “Applications of Digital Marketing to Gain Leadership Position in
Competitive Markets” at Goa. Senior officials of various dairy cooperatives spread across the country attended
this MDP.
To spread awareness on Artificial Insemination, NCDFI organized stalls at 17 different farmer fairs in the states of
Haryana, Maharashtra, Odisha, Punjab, Rajasthan, and Tamil Nadu.
As a part of promotional activity, NCDFI in coordination with NDDB Dairy Services organized 15 farmer meets
which were attended by 1,346 farmers from across the country
Ashti, Belapur,
Khokari, Kolewadi,
Maharashtra 8 1,115
Manori, Rahuri, Vambori,
Wathar
Ahiro ki Dhani,
Rajasthan Chotti Chomu, 6 183
Khud, Losal, Patoda,
Smart Gaushala
Total 15 1,346
To promote Artificial Insemination, NCDFI in coordination with NDDB Dairy Services organized 107 AI Technician
Meets which showed active participation by 3,047 technicians from various parts of the country
Jharkhand Giridih 1 42
The consistent engagement of NCDFI with its members coupled with developmental initiatives provide an
opportunity to NCDFI to get valuable feedback from participants on issues pertaining to procurement,
processing, marketing, governance, policy, etc. NCDFI is continuously working on the feedback received from the
participants to address the needs of member cooperatives. I request the members to share their concerns and
suggestions with us so as to help in improving the format of these programs.
MANPOWER DEVELOPMENT
During the year, NCDFI organized a three-day Management Development Program (MDP) at Udaipur for 17
officers of NCDFI. This program helped them to understand the importance of motivation, communication, and
stress management to be more productive in the workplace. It also helped them to create awareness about
personality development and understand their roles and responsibilities from the managerial context much
better and also enhanced their ability to respond to customer needs. Apart from these, NCDFI employees were
also nominated to attend training programs, seminars, and conferences at premier institutions to help them
updated with the latest developments in the industry.
Shri Giriraj Singh, Hon’ble Minister of Fisheries, Animal Husbandry, and Dairying
Inauguration of New Establishments and Campus Beautification at Godavari Khore Milk Union
I convey my gratitude to millions of milk producers and oilseeds growers who are the grassroot
members of the cooperatives affiliated to NCDFI. They continue to provide support to NCDFI's
activities.
I gratefully acknowledge the continuing support we receive from the National Dairy Development
Board. I am grateful to the Institute of Rural Management, NDDB Dairy Services, Sabarmati Ashram
Gaushala, Animal Breeding Centre, Alamadhi Semen Station, and Rahuri Semen Station for their help
and cooperation.
I take this opportunity to thank the Government of India, especially the Ministry of Defence, the
Ministry of Agriculture, the Ministry of Home Affairs, the Ministry of Railways, the Railway Board and
the Indian Railway Catering and Tourism Corporation (IRCTC) for their continuous help and support.
I specially thank NCDEX eMarkets Ltd (NeML) and all members of NCDFI eMarket for their continued
support and guidance.
I like to convey our special thanks to the Chairmen and officials of our member cooperatives who
have actively participated in different meetings and programs of NCDFI. They have always provided
us valuable support and feedback.
My thanks are due to our Bankers and Auditors for the services rendered by them.
A note of appreciation for the employees of NCDFI, it is through their hard work and devotion, that,
NCDFI could carry out its activities smoothly during the year.
ू पाउडर (ड
संपूण दध ूएमपी) 686 25.94
सं ागत ब
बटर (४०० ाम टन म) 947 41.57
भारतीय सेना एवं अ सश बल को आपू त करना गव का वषय करती ह।ै तदनुसार, २६ जून २०१९ को नई द ी म एक बैठक
माना जाता ह।ै सेना को लगातार आपू त करने वाली सहकारी डे रय बुलाई गई जसक अ ता मेजर जनरल अर वद कटोच,
को वशेषा धकार एवं ापा रक लाभ के अलावा एवं एडीजीएसटी (एसएम), आपू त एवं प रवहन महा नदेशालय, र ा
अ लाभ भी मलते ह। सु न त बाजार का योजन पूरा करने मं ालय, मु ालय ने क ।
के अलावा इसने मता नमाण, उ ाद क गुणव ा म लगातार
सुधार करना, साख बनाना तथा बाजार के व ार म भी सहायता क गुणव ा नयं ण बैठक: दध
ू उ ाद क आपू तय म रजे न को
ह।ै म इस पहल म अपने सहकारी डेरी सद से स े दल से भाग कम करने के लए एनसीडीएफआई ने डेरी उ ाद के गुणव ा
लेने का अनुरोध करता ं। नयं ण पहलुओ ं पर चचा करने हत
े ु २७ दसंबर २०१९ को आणंद म
गुणव ा नयं ण बैठक बुलाई थी। बैठक क अ ता मेजर
बैठक जनरल अर वद कटोच, एडीजीएसटी (एसएम), आपू त एवं प रवहन
महा नदेशालय, र ा मं ालय, मु ालय ने क , तथा इसम र ा
वा षक समी ा बैठक: एनसीडीएफआई आपू तय , याओ ं एवं मं ालय, एनसीडीएफआई, व भ डेरी सहकारी सं ाओ ं एवं
भुगतान क समी ा करने हत
े ु सहकारी डेरी सद एवं र ा पशुधन और खा व ेषण एवं अ यन क , एनडीडीबी (काफ
मं ालय के व र पदा धका रय के बीच वा षक बैठक आयो जत लैब) के कूल ४५ त न धय ने भाग लया।
डेरी सहकारी सं ाओ ं क बेहतर आमदनी को सु न त करने के े पाउडर (Whey Powder) एवं २५ मी क टन घी का कारोबार
लए ौ ो गक एवं इसके अनु योग को अपनाना एनसीडीएफआई कया ह।ै यह कारोबार एनसीडीएफआई ई-माकट म नीलामी क
का मु उ े रहा ह।ै ऐसी एक पहल एनसीडीएफआई ई-माकट ह,ै वभ कार जैसे 'अ े षत नीलामी (Forward Auction)',
जससे देश भर क सहकारी डे रय को अ धक लाभ आ ह।ै डेरी 'नीलामी ब (Auction Sale)' एवं ' रवस नीलामी (Reverse
व ुओ ं क ई-नीलामी के होने से रा ीय र पर बाजार मू के Auction)' के मा म से कया गया।
लए मानक ेटफॉम मल गया ह।ै मुझे यह जानकारी देते ए हष
हो रहा है क वष के दौरान एनसीडीएफआई ई-माकट म दध
ू क ई- एनसीडीएफआई ई-माकट नीलामी म आर,े आ वन, अमृत, अमूल,
नीलामी ारभ
ं कर दी है इसके अ त र पशु आहार साम ी, आहार देवभोग, गोकुल, कृ ा, माही, महानंद, मेधा, पराग, मदर डेयरी,
बीज, खा तेल, पै कग साम ी, रासायन, चीनी आ द क खरीद नं दनी, पराग, राजहस
ं , सागर, सांची, सरस, सुधा, वेरका, वजया,
संबंधी सेवाओ ं म व ार कया गया ह।ै वष के दौरान, वकास, वीटा एवं वारणा जैसे ांड ने भाग लया। जब क नजी एवं
एनसीडीएफआई ई-माकट ने लेबर कॉ ै , ांसपोट कॉ ै सहकारी दोन कार के सद पोटल पर पंजीकृत ह, केवल
प रवहन को भाड़े पर लेने, गोदाम कराए पर लेने, कटीन सेवा आ द सहकारी डेरी को ही पोटल पर डेयरी उ ाद क ब करने क
जैसी सेवा न वदा के े म अपनी सेवाओ ं का व ार कया ह।ै अनुम त दी गई ह।ै
अ उ ाद
एनसीडीएफआई ई-माकटने ेप ब के अलावा चीनी, खा तेल, पै कग साम ी, म त पशु चारा, चारा बीज, रसायन क खरीदी के लए
अतर सहायता दी ह,ै तथा म, प रवहन को भाड़े पर लेने, गोदाम कराए पर लेने, कटीन सेवा आ द जैसी सेवा सं वदाओ ं को भी शा मल कया
ह।ै
सद के ापक एवं व वधता पूण आधार को देखते ए म सहकारी सं ाओ ं से एनसीडीएफआई ई-माकट क सेवा का उपयोग
करने का अनुरोध करता ं।
1789
1800
1500
Number of Members
1200
905
900
612
600
390
300 171
0
March - 16 March - 17 March - 18 March - 19 March - 20
वष के दौरान, एनसीडीएफआई ई-माकट के कारोबार का कुल लेन-देन ₹ २,०४७ करोड था, जसम मू व धत डेरी उ ाद से ₹ ५९५
करोड, तरल दध
ू से ₹ २०८ करोड पशु आहार साम ी से ₹ १,११० करोड़ तथा अ उ ाद से अ जत ₹ १३४ करोड़ क रा श शा मल ह।
2400
2047 FY 17-18
2000
FY 18-19
1600
₹ in Crores
FY 19-20
1200 1110
1010
903
803
800
516 498
479
400 374
99
14 35 13 19
0
Dairy Agri/Minerals Sugar Others Total
देश के इन सीमेन श
े न को उ त एवं आधु नक सीमेन उ ादन सु वधाओ ं
से लैस, जनम उ गुणव ा नयं ण परी ण यु उ त सीमेन
सं रण उप र लगाए गए ह। इन सीमेन श
े न म तैयार सीमेन ाक
'एसएजी', जसका अथ सुपी रयर ए नमल जेने ट ह,ै के ांड के तहत
माक टग क जाती ह।ै
3500 3402
3000
2500
2057 2177
₹ in Crores
2000
1543
1500
1006
1000
624
521
500 359
452 488
0
2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20
एनसीडीएफआई डेयरी उ ोग क आव कताओ ं के अनु प ए. आय. तकनी शयन बैठक , कसान मेल म ॉल लगाने श ण काय म,
कसान गो ी, से मनार, कायशालाएं , सहकारी सभाएं आयो जत करने एवं उ ोग आव कता नधारण के आधार पर बंधन वकास काय म के
आयोजन क व ा करती ह।ै
डेरी कसान को श ण
जै वक और बायोडायना मक खेती, अपनाकर डेयरी कसान क आय को बढ़ाने के लए एनसीडीएफआई एवं रा ीय डेयरी वकास बोड
(एनडीडीबी) ने संयु प से पूव र रा के डेरी कसान के लए भाईकाका कृ ष क म बायोडायना मक खेती एवं वन त उ ादन वषय
पर पांच दवसीय श ण आयो जत कया। इस काय म के तहत स म, प मी असम, प म बंगाल, पुरा एवं म णपुर रा के ९८ डेयरी
कसान के लए ३ बैच आयो जत कए गए।
कसान गो य का ववरण
रा ान संगो य क सं ा सहभा गय क सं ा
आं देश ओगंोल 1 48
अ , बेलापुर,
महारा खोकर, कोलेवाडी, 8 1,115
मनोरी, रा री, वंबोरी, वाठर
अहीर क ढाणी,
राज ान छोटी चोमू, खुद, लोसल, 6 183
पटोड़ा, ाट गौशाला
कुल 15 1,346
रा ान बैठक क सं ा सहभा गय क सं ा
झारखंड गरीडीह 1 42
आ ा, अहमदनगर, अलेफाटा,
अमदाबाद औसा, बाभले र, भीगवन,
चखली, दहीगांव, द ड, कराड, करमाला,
महारा 41 841
खेड, को ार, कोपरगांव, पाथ ड,
पौनी, पुणे, रा री, शराला, ीरामपुर,
वसमत, वारणा, तुलसी
अलीगढ़, औरय
ै ा, बदायूं, बड़ौत, बरल
े ी,
बुलंदशहर, इटावा, फ खाबाद, हपुड़,
उ र देश कानपुर, ल ीपुर, मेरठ, मुज रनगर, 28 676
तापगढ़, पीलीभीत, रामपुर,
रायबरल
े ी, ड़क
ब गा, दग
ु ापुर, इगरा, जयनगर,
प म बंगाल 7 356
काक प, केशोपुर, पु लया
सहकारी सं ाओ ं से संपक
एनसीडीएफआई ने व भ पॉ लसी मु को लेकर सरकार से संपक ा पत करना जारी रखा ह।ै एनसीडीएफआई र ा, कृ ष, सहका रता एवं
रल
े वे जैसे मं ालय के साथ डेरी सहकारी े के व भ मह पूण मु पर नरत
ं र संपक करना जारी रखेगा। संब नी त वषय के समाधान के
लए व भ सरकारी अ धका रय से संपक ा पत करने के लए सतत रणनी त तैयार करने के लए सद के लगातार सहयोग एवं अ भ ाय से
हम अ धक लाभ होगा।
म दध
ू उ ादक एवं तलहन उ ादक , जो एनसीडीएफआई से संब सहकारी सं ाओ ं के ाथ मक सद ह, के त अपना
आभार करता ं। म आशा करता ं क वे एनसीडीएफआई क ग त व धय म अपना योगदान देते रहगे।
म रा ीय डेरी वकास बोड से मल रहे सतत सहयोग तथा मागदशन के लए अपना आभार करता ं। म इरमा, एनडीडीबी डेरी
स वसेस, साबरमती आ म गौशाला, पशु जनन क , अ ाढी सीमेन श
े न एवं रा री सीमन श
े न से मल रही लगातार सहायता
एवं सहयोग के लए आभारी ं।
म एनसीडीएफआई क व भ बैठक एवं काय म म स य प से भाग लेने वाले हमारे सद सहकारी सं ाओ ं के अ एवं
पदा धका रय को वशेष प से ध वाद ा पत करता ं। उ ने सदैव हम ब मू सहयोग एवं अ भ ाय दीये ह।ै
एनसीडीएफआई के सभी कमचा रय का वशेष प से ध वाद, जनक कड़ी मेहनत एवं न ा के फल प एनसीडीएफआई ने
वष के दौरान अपनी ग त व धय को नबाध प से संचा लत कया ह।ै
ध वाद,
नदेशक मंडल क ओर से
To,
The Members
National Cooperative Dairy Federation of India Ltd.
Anand
We have audited the accompanying financial statements of National Cooperative Dairy Federation of India Ltd. which
comprise the Balance Sheet as at 31 March 2020, the Statement of Income and Expenditure for the year then ended, and a
summary of the significant accounting policies and other explanatory information.
Management is responsible for financial statements that give a true and fair view of the financial position and financial
performance of the federation in accordance with generally accepted Accounting Standards issued by Institute of
Chartered Accountants of India. This responsibility includes the design, implementation and maintenance of internal
control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free
from material misstatement, whether due to fraud or error.
Auditors' Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We are conducting our audit in
accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. 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 auditors' judgment, including the assessment of the risks of material
misstatement of the financial statement, whether due to fraud or error. In making those risk assessments, the auditor
consider internal control relevant to the Federation's preparation and fair presentation of the financial statements in order
to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriated of
accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating
the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
on the financial statements.
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial
statements subject to our comments and observation contained in the audit Memorandum, give the information required
by the Multi State Co-op Societies Act, 2002 and rules made there under in the manner so required and give a true and fair
view conformity with the accounting principles generally accepted in India.
a) In the case of the Balance sheet, of the state of affairs of the Federation as at 31 March 2020:
b) In the case of the statement of Income and Expenditure Account, of the profit for the year ended on that date:
We report that:
a) We have obtained all the information and explanations which to the best of our knowledge and belief
were necessary for the purpose of our audit;
b) In our opinion, proper books of accounts as required by law have been kept by the Federation so far
as it appears from our examination of those books;
c) The Balance Sheet, the Income and expenditure dealt with by this report in agreement with the Books
of accounts;
d) In our opinion and according to information given to us, there has been no material impropriety or
irregularity in the expenditure or in realizations of money due to National Cooperative Dairy
Federation of India Ltd (NCDFI);
e) In Our Opinion and according to information given to us, the transactions of NCDFI Ltd, which has
come to our notice, have been within the competence of NCDFI Ltd.
CURRENT ASSETS
INCOME
Revenue from operations (Net) 9,16,93,301 7,63,24,443
Annual membership fees 1,00,000 45,000
Admission fees 1,000 -
Interest 82,86,247 71,28,414
Miscellaneous income 2,420 4,883
Excess provision written back - 1,623
Provision for deferred tax 11,886 -
EXPENDITURE
Remuneration and benefits to employees 4,79,01,329 4,23,30,460
Travelling and conveyance 36,18,337 39,97,640
Board members travelling 21,42,146 35,24,560
Donation to PM cares fund 22,58,943 -
Loss on sale of assets (Net) 12,796 15,353
Training and manpower development 3,72,393 4,93,468
Developmental activities 56,81,799 52,85,632
Legal and professional 9,80,300 12,85,020
Computer expenses 8,95,174 7,42,230
Meeting 7,78,787 6,55,831
Administrative expenses 51,99,645 51,29,474
Contribution to education fund 1,94,609 1,28,062
Depreciation 11,91,274 12,40,917
Dividend 11,49,000 7,66,000
Provision for deferred tax - 2,628
Provision for income tax 95,00,000 59,50,000
APPROPRIATIONS
Reserve fund 49,66,233 32,46,538
Contingency reserve fund 19,46,093 12,80,615
General fund 1,13,05,996 74,29,935
2. a) All Income and Expenditure are recognized and accounted on accrual basis.
b) Income from service charges has been accounted on completion of supplies or on receipt of service fee/ TDS
certificate from the supplying members, whichever is earlier.
3. Fixed assets include all expenditure of capital nature and are stated at cost less depreciation.
4. Depreciation on fixed assets has been provided as per written down value method at the rates prescribed in Income Tax
Rules.
5. Long Term Investments are valued at cost less provision for diminution other than temporary, in value, if any, as at the
Balance Sheet date.
6. In respect of Gratuity and Superannuation the Federation has set up NCDFI Limited Employee Group Gratuity Cum Life
Assurance Trust Fund and NCDFI Limited Contributory Superannuation Scheme, to which contributions have been
made.
7. Provident Fund contributions are being remitted to Employees Provident Fund Organization.
8. In respect of Leave Encashment for the staff of the NCDFI, the Federation is maintaining Group Leave Encashment Fund
with LIC.
9. Income tax provision comprises current tax provision and deferred tax provision. Current tax provision is made annually
based on the tax liability computed after considering tax allowances and deductions.
Deferred tax is recognized on timing difference between the accounting income and the taxable income for the year
that originates in one period and is capable of reversal in one or more subsequent periods. Such deferred tax is
quantified using the tax rates and laws enacted or substantively enacted as on the balance sheet date.
Deferred tax asset are recognised and carried forward to the extent that there is reasonable certainty that sufficient
future taxable income will be available against which such deferred tax can be realised.
2. Previous years figures have been regrouped / rearranged to make them comparable to those of the current year.
NCDFIcoop company/ncdficoop