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... Members who hold shares in physical form are requested to register their e-mail addresses by sending mail to advanta@shreproservices....CONTENTS Page No(s)............ are requested to register their e-mail addresses.. To support this green initiative.... Standalone Financial Statements Auditors’ Report…………………………………………………………………………………………………................ Statement pursuant to section 212 of the Companies Act. Corporate Information……………………………………………………………………………………….........……………………………………………………......... 1956……. Directors’ Report………………………………………………………………………………………………….. Cash Flow Statement ………………………………………………………………………………………….... Profit and Loss Account …………………………………………………………………………………….. Consolidated Financial Statements Auditors’ Report…………………………………………………………………………………………………........................……… Schedules……………………………………………………………………………………………………………. in respect of electronic holdings with the Depository through their concerned Depository Participants... Balance Sheet …………………………………………………………………………………………………….. Notice………………………………………………………………………………………………………………. Balance Sheet ……………………………………………………………………………………………………................... Schedules…………………………………………………………………………………………………………….................. 1 87-88 89 90 91 92-122 123 46-49 50 51 52 53-83 84 85 86 02 3-8 9-15 16-23 24-45 ..... Management Discussion and Analysis Report.................................. Balance Sheet Abstract and Company’s General Business Profile…………………….. Cash Flow Statement ………………………………………………………………………………….... Profit and Loss Account ……………………………………………………………………………………. Form of Proxy and Attendance Slip……………………………………………………………........com......... has taken a “Green Initiative in the Corporate Governance” by allowing paperless compliances by the Companies and has issued circulars stating that service of notice / documents including annual report can be sent by e-mail to its members........ Abridged Financial Information of subsidiaries………………………………............ members who have not registered their e-mail addresses so far........................ Report on Corporate Governance……………………………………………………………………….……… Appeal to Members The Ministry of Corporate Affairs...............

Krishna Nagar. Chartered Accountants.30 A. Andhra Pradesh Plot No. Banjara Hills. Road No. India 2 BOOK CLOSURE Monday. 110. Haryana 18th ANNUAL GENERAL MEETING : 20th June. Hyderabad. Vikram R Shroff Mr. 13A-B. R. R. Batliboi & Co. Sec. 14th Floor. Plants • • • • B Camp Post. : Hotel Fortune Park Vallabha. Kundali. Banjara Hills Hyderabad . Kaundinya Mr. Phase – IV. #8-2-418 4th Floor. Gala No. Secunderabad . Vinod Sethi Dr. Mumbai – 400072. Near Gunrock Diamond Point. Andheri-Kurla Road. 52 to 56 Building No. 2012 To Wednesday. Andhra Pradesh. R.M. # 157/5. Toopran Mandal. Balaji Enclave Transport Road. Kurnool. 2012 : 11.com Website: www. Medal District. Gundla Pochampally. 3-5. India Bankers Axis Bank Limited ING Vysya Bank Limited Syndicate Bank Limited Yes Bank Limited State Bank of India Registrar and Share Transfer Agents Sharepro Services (India) Private Limited Samhita Complex. 57.com Date Time Venue . Andhra Pradesh Bharati Brahma Seeds.500034 Chairman CEO & Managing Director Non Executive Director Independent Director Independent Director Independent Director Pushpalatha K Company Secretary and Compliance Officer Corporate Office Unicorn House Plot No.500009 Auditors S. V.BOARD OF DIRECTORS Mr. Jaidev R Shroff Mr. Vasant P. 20th June.R. Industrial Estate. Andhra Pradesh Kalakkal Village. 2012 (both days inclusive) Investor Contact Phone No: +91-40-2335 0907 E-mail id: investor@advantaindia.12. 11th June. District. Sonepat. Nutankal Village. Sakinaka. Gandhi Mr. Dadar (West) Mumbai – 400 028. The Ruby 29 Senapati Bapat Marg. Medchal Mandal.advantaseeds. 7. Hardeep Singh Manoj Gupta Chief Financial Officer Registered Office Krishnama House. Road No. Near Sakinaka Telephone Exchange.

M. Mr.2012 Place: Hyderabad 3 V. 311 read with Schedule XIII and other applicable provisions. perquisites allowances and stock options.R. if any. 1956 and subject to the approval of Central Government. Road No. Banjara Hills.NOTICE Notice is hereby given that the 18th Annual General Meeting (AGM) of the members of Advanta India Limited will be held as scheduled below: Day & Date Time Venue : Wednesday. S R Batliboi & Associates. R. offers himself for reappointment. SPECIAL BUSINESS: 5. subject to the approval of the Central Government. with effect from July 10. To appoint a Director in place of Mr. 2012 comprising salary. Andhra Pradesh. Chartered Accountants (ICAI Registration No.R. V. R. the Profit and Loss Account for the financial year ended on that date and the Report of the Directors and the Auditors thereon. . 2011. Managing Director of the Company will be entitled for a maximum remuneration of 2 Crores p. of the Companies Act. Kaundinya. the Company shall pay such remuneration as may be fixed by the Board / revised by the Board from time to time. Hyderabad. 20th June. 2. control and directions of the Board of Directors. consider and adopt the audited Balance Sheet as at December 31. V. Kaundinya as Managing Director of the Company for a period not exceeding 3 (Three) years with effect from 10th July 2012 on the following terms and conditions as may be determined by the Board of Directors from time to time: 1. Subject to superintendence. Kaundinya Managing Director 2. 101049W) as Statutory Auditors of the Company to hold office as such from the conclusion of this Annual General Meeting till the conclusion of next Annual General Meeting and to authorise the Board of Directors to fix the remuneration. Jaidev R. To appoint M/s. the Members do hereby re-appoint Mr.30 A. To Consider and if thought fit to pass with or without modification(s) the following resolution as a Special Resolution: “RESOLVED THAT pursuant to the provisions of Sections 198.12. he shall perform such duties and functions as would be commensurate with his position as the Managing Director of the Company as may be delegated to him by the Board from time to time. To appoint a Director in place of Dr. Kaundinya. 269. India ORDINARY BUSINESS: 1. The limits stipulated above are the maximum limits and the Board may in its absolute discretion revise the terms/limits of his remuneration from time to time within the maximum limits stipulated above and such revision shall be in the interest of the Company and the appointee. offers himself for reappointment.05.” By order of the Board of Directors For Advanta India Limited Date: 07. 3. discretionary performance linked incentive and/ or commission. V. if required as the minimum remuneration within the above maximum limits. 2012 : 11. To receive. Vasant P Gandhi who retires by rotation and being eligible. 4. the Company has no profits or its profits are inadequate. RESOLVED FURTHER THAT where in any financial year during the tenure of office of Mr. Shroff who retires by rotation and being eligible. 3.a. : Hotel Fortune Park Vallabha. Managing Director.

Near Sakinaka Telephone Exchange. are requested to correspond with the Company Secretary. The Register of Members and Share Transfer Books will remain closed from 11th day of June. Members are requested to address all correspondences including dividend matters. 4 . as per Section 205A and 205C of the Companies Act. Members seeking any information with regard to Accounts are requested to write to the Company at an early date so as to enable the management to keep the information readily available. Mumbai . Building No. Corporate members intending to send their authorized representatives to attend the Meeting are requested to send to the Company a certified copy of the Board Resolution authorizing their representatives to attend and vote on their behalf at the Meeting. Samhita Complex.. 12. Sharepro Services (India) Pvt. PROXIES IN ORDER TO EFFECTIVE MUST BE RECEIVED BY THE COMPANY. Unit: Advanta India Limited. Members / proxies are requested to bring duly filled attendance slips to the meeting. The Register of Directors shareholding maintained under Section 307 of the Companies Act. 1956 will be available for inspection by the members at the AGM. at the Company’s registered office. 11. Ltd. NOT LATER THAN 48 HOURS BEFORE THE COMMENCEMENT OF THE MEETING. Members holding shares in physical form are requested to notify/send any change in their address to the Company’s share transfer agents. 1956 extends the nomination facility to individual shareholders of the Company. 52 to 56. shall. Therefore. or to the Company at its Registered Office. In case of joint holders attending the Meeting. 3. Members holding shares in dematerialized form are requested to notify/send any changes in their address to the concerned depository participant (s). Members desiring to claim previous years’ dividends. The form of attendance slip is given at the end of this Annual Report. Gala No. Section 109A of the Companies Act. 6. Explanatory statement as required under section 173(2) Companies Act. Members are requested to note that dividends not encashed or not claimed within 7 years from the date of transfer to the Company’s Unpaid Dividend Account. to the Registrars and Share Transfer Agents. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE IN THE MEETING AND THE PROXY NEED NOT BE A MEMBER OF THE COMPANY.Notes: 1. the shareholders willing to avail this facility may make nomination in Form 2B.400 072. India. A form of proxy is given at the end of this Annual Report. 7. Sakinaka. 1956 is attached herewith. 2. 4. 2012 to 20th day of June. Andheri-Kurla Road. 5. The brief profiles of the Directors who are retiring by rotation and recommended for re-appointment are provided under the head “Additional Information”. 13. 8. 13A-B. 1956. be transferred to the Investor Education and Protection Fund. which remain unclaimed. 9. only such joint holder who is higher in the order of names will be entitled to vote. 2012 (both days inclusive). 10.

General Information: (i) Nature of Industry Advanta India Limited. 2012 on the terms and conditions contained in the resolution. including sorghum.66 (2.R.539. Kaundinya. canola. is one of the leading international agronomic seed companies with principal operations in India.Explanatory Statement under section 173(2) Companies Act.229. 2012. Kaundinya. The Board of Directors has reviewed the performance achieved by the Company under his leadership and appreciated the same. He is instrumental in acquiring various Companies in India and abroad to expand its operations and product profile.A.344.S. Our research and development efforts are in the areas of superior breeding programs and bioscience techniques that have driven the development of a portfolio of elite. Kaundinya. Managing Director of the Company expires on 9th July.248. proprietary and highly differentiated germ plasm. V. read with Schedule XIII and other applicable provisions of the Companies Act. V. V. hybrid rice and hybrid mustard. The Company is into technical plant breeding and the application of biotechnology to develop new hybrids and varieties of field crops and broad acre vegetable seed products. (ii) Date of commencement of commercial production The Company is an existing Company and the date of Commencement of operations dates back to year 1994. The Remuneration Committee has approved the maximum remuneration per annum proposed to Mr.05 2010 70. R.92 13. R.378. I. 2012. sunflower. R. Australia. if any: Nil 5 .03 Export performance and net foreign exchange earnings: on standalone basis Export performance of the Company for the last three years is as follows: ( in Lacs) Particulars Foreign Exchange Inflow 2011 548.214.32 2010 1. Board has proposed to reappoint him for such period not exceeding 3 Years with effect from 10th July. 1956 for the appointment of Mr.90 1. (iii) Financial performance Consolidated Performance of the Company for the last three years is as follows: Particulars Gross Total Income Profit before Interest. Depreciation & tax Profit after tax (iv) 2011 95.745.834. since his appointment as the Managing Director. has steered the Company with total dedication. Mr. The resolution seeks the approval of the members in terms of Section 269.03 2009 2.07 7. Further in order to avail his uninterrupted services for the growth of the Company.652.29 (v) Foreign investments or collaborators. and Argentina. U.29) ( in Lacs) 2009 69. 1956 The present term of Mr.05 2.584.04 10. hard work and effective leadership into diversified activities. Kaundinya as the Managing Director of the Company for a period of three (3) years commencing July 10. V. corn. Thailand.705. resulting in the profitable growth of the Company’s operations. Managing Director.

V. (v) Remuneration proposed Central Government had approved the payment of remuneration of 20. Information about the Appointee: (i) Background details Mr. He was the Chairman of the Crop Life India (the then Indian Crop Protection Association) for two years from1998-2000. R. R. operations and management of the wholly owned subsidiaries of the Company which is an integral part of Seeds & Biotechnology Research & Development business of Advanta India Ltd. (ii) Past remuneration Mr. V. V. Kaundinya has drawn a remuneration of 122. he has steered the Company with total dedication. Mumbai from 2002 to 2006. does not have / will not have any pecuniary relationship. Prior to joining Advanta India. Mr. He also served Hoechst India for thirteen years as a senior member of the management team of their agrochemicals division. Mr. He held many posts of responsibility which include Managing Director of Emergent Genetics India. Kaundinya has always been associated with various agricultural institutions.11 lacs and stock options as per company’s policy during the financial year ended December 31. (iii) Recognition or awards Nil (iv) Job profile and his suitability Mr. He was the Director of the Association of Seed Industry (ASI). directly or indirectly with the Company. R.000. Ahmedabad and is a graduate in Agriculture from the AP Agricultural University. Kaundinya and is in tune with the Industry standards. He is currently the Chairman of ABLE –AG (Association of Biotech Lead Enterprises – Agricultural Group). V. It is proposed to pay a maximum remuneration of 20. wherein the Company operates.000. (vi) Comparetive remuneration profile with respect to industry. as Managing Director of the Company not only oversees the Research & Development and day to day management of Advanta India but also oversees financing.R. if any Except the proposed remuneration. he was with Monsanto India as FTO Lead. V.R. Kaundinya. Mr. research and development. He is instrumental in acquiring the various Companies in India and abroad to expand the Company’s operations and its product profile. Kaundinya holds a PGDM with specialization in Agriculture from Indian Institute of Management. 2011. Managing Director has been taking care of overall operations and affairs of the Company. profile of the position and person The proposed remuneration is commensurate with the profile of the Managing Director. He was also the Vice President of All India Crop Biotechnology Association (AICBA). Kaundinya. 6 . V. or relationship with the managerial personnel. Managing Director of Cyanamid Agro and Director of the Agricultural Products Division of Cyanamid India. Kaundinya.000 (Rupees Two Crores per annum) for the period from 10/07/2012 to 09/07/2015 on the terms and conditions detailed in the resolution referred above with a power to the Board of Directors to determine the limits from time to time within the above overall limits. (vii) Pecuniary relationship directly or indirectly with the company. Delhi from 2002-2006. Managing Director of the Company for the period from 10/07/2011 to 09/07/2012.R. hard work and effective leadership into diversified activities. size of the company.II. the Managing Director.000 to Mr. resulting in the profitable growth of the Company’s operations. Since his appointment as Managing Director.

05. 1956. the company has strengthened the supply chain operations and spent considerably on modernizing and expanding the processing and storage facilities. the company feels that the days to come are very encouraging. Other information (i) Reasons for inadequate profits The company is spending heavily on Research & Development. However based on the business plans. Also the strength of the company has increased as acquisitions were carried out by the Company. No director. Company expects that it will be able to start supplies in financial year 2009 and in full swing with effect from the year 2012. in order to explore new areas of business and technologies. the company could not achieve sufficient profits. the results of these expenses will accrue in the coming years.III. So.R. the company has heavily invested in research and development of field crop and vegetable breeding and biotech labs. It has acquired companies in India and abroad to expand its operations and product profile. The new products for the newer markets and geographies are expected to take some time to be commercialized. Also. However due to these expenses. 5 for approval of the members. While most of the research expenditure is charged to the current profit and loss statement. The company’s aim is to create an umbrella of its brand name across value attached to the Advanta. V. V. the company has already taken various expansion projects. The gestation period for R&D is 5-7 years. R & D is the corner stone of the company’s Global business and the inherent nature of the seed business demands a lot of research from time to time.Kaundinya. Kaundinya Managing Director 7 .2012 Place : Hyderabad V. Investment in research was stepped up considerably during the year as significant amounts have been allocated for strengthening the research programs.R. V. board of directors is confident that the company will generate sufficient profits in the coming years. the company is expecting a good return in the coming year. Kaundinya is interested or concerned in the appointment and remuneration payable to Mr. The Board accordingly recommends the resolution as set out in Item no. The terms of appointment of Mr.Kaundinya as the Managing Director. R. Also. with increased expenditure and investment on the Research and development of the business. last year. By order of the Board of Directors For Advanta India Limited Date : 07. as stated in this notice. except Mr. The company is in advance stage of its research of Nutrisun.R. (iii) Expected increase in productivity and profits in measurable terms Company is poised to maintain its turnover over the years to come. (ii) Steps taken or proposed to be taken for improvement In tune with the changing trend. may be treated as the abstract under Section 302 of the Companies Act. Till the time the new products and geographies start to generate revenues the income statement of the company will have to take these expenses as a charge with no matching revenue.

Ltd • Tatva Clean Tech Pvt. Ltd • Khagay Environment Pvt. Pradeep Metals Ltd Membership of Committees Audit Committee Remuneration Committee/ Compensation Committee Advanta India Limited Sharholders’ / Investors’ Grievance Committee Advanta India Limited Nil Shareholding in the Company 1015350 equity shares of Rs. the World Bank and International Food Policy Research Institute. Vasant P. He is on the Board of the company since January 2007 as an Independent Director. Ltd • Praskand Environment Pvt. • • • • • • • • • • • • • Public Limited Companies Bharuch Enviro Infrastructure Ltd United Phosphorus Ltd Entrust Environment Ltd Sharvak Environment Ltd Uniphos Enterprises Ltd Enviro Technology Ltd Nivi Trading Ltd Ventura Guaranty Ltd Tatva Global Environment (Deonar) Ltd Nirlon Ltd Shivalik Solid Waste Management Ltd Tatva Global Environment Ltd. He has over 23 years of professional experience and has worked with National Dairy Development Board (NDDB). He is currently responsible for development of new products. Other Directorships Private Limited Companies • Shroff Envirotral Pvt. Dr. Ahmedabad. Ltd • Demuric Holdings Pvt. Ltd • Force Aviation Pvt. Ltd • Asia Society India Centre Pvt. • Dr. Jaidev R. He is one of the promoters of the Company and Chief Executive Officer of United Phosphorus Limited and possesses rich experience of over 20 years. Gandhi holds directorship in Gujarat State Fertilizers and Chemicals Limited. Director who retires by rotation and is eligible for re-appointment. • • • • Brief profile of Mr. Gandhi aged 57 years holds Doctorate in Development Economics from Stanford University and has done Post Graduation in Management from IIM. Stanford University. Ltd • Isar Builders & Developers Pvt.Brief profile of Dr. Director who retires by rotation and is eligible for re-appointment. 10/. international business & strategic alliances with various parties in different markets.each (6. Ahmedabad. Ltd • Heline Environment Pvt. Dr. Gandhi is a member of the Audit Committee and Remuneration Committee of Advanta India Limited. Ltd • Hardstone Properties (India) Pvt. Brief profile and expertise in specific functional area Mr. Vasant P. He is currently a Professor at the Indian Institute of Management. Ltd • Magnus Properties Pvt. Shroff aged 46 years is a graduate in Chemistry from Bombay University. Gandhi. Shroff. Jaidev R. He does not hold any shares of the Company. Ltd. Ltd • Khaline Environment Pvt.03% of the total paid up share capital of the Company) 8 .

2011.9919 68. for the year ended December 31.652.6827 0.66 (2.930 49.57) (1.66 1.654. FINANCIAL HIGHLIGHTS The financial performance of the Company.57) (1.2695 1.91) Nil Nil Nil Nil (2.07 7.60 14.780.21 14.780.26 70.26 Nil Nil Nil Nil 13.654.822.105 53. Your Directors are pleased to present the 18th Annual Report together with the audited accounts of your Company for the year ended December 31.780.50 13.21 13.361.780.780.441.418.6993 1.418.14) (2.399.315.14) (2.539.016.00 1.923.593.044.745.7841 64.22 7.623.21 17.29) 16.584.66 (2.464.4638 For Profit & Loss Account (Average Rate) 48.66 (1. December 31.654.93 Nil (2.91) 9 .10 Nil 1.57) Stand Alone December 31.5862 0.292.361.362.883.82) (2.052. 2011 2010 2011 95.923.DIRECTORS’ REPORT Dear members.7180 Nil Nil Nil 1.21 Nil Nil Nil 1.57) (2.654. 2011 is summarized below: Consolidated Description Sales Including other Income Earnings Before interest.66 13.22 2.92 13. Tax & Depreciation and Amortization Exceptional Items Profit / (Loss) Before Tax (PBT) Profit / (Loss) After Tax (PAT) Profit / (Loss) After Tax (Net of Minority Interest & prior period adjustment) Add: Balance brought forward from previous Year Surplus Available for Appropriations Appropriations: Proposed Final Dividend Tax on Dividend Transfer to General Reserve Transfer to Debenture Redemption Reserve Balance Transferred to Balance Sheet TOTAL Conversion rates as on 31st December.214.418.00 1. December 31.976.00585 28.229. 2010 14.14) 195.05 13. 2011: For Balance Sheet items (Closing Rate) 1USD 1AUD 1EURO 1THB 1IDR 1BRL = = = = = = 53.66 1.418.57 (2.00541 27.883.24) 2.57) ( In Lacs) December 31.84) (2.90 (238.50) (3.

With considerable growth projected in some of the International markets like SE Asia. RESEARCH & DEVELOPMENT We continue to invest 11% of our revenues in research.92 Lacs as against 70. 2011 was a very good year for Advanta. Corn at 59%. The consolidated Profit after tax stood at 1. We are running very low on stocks in most of our crops by the end of the year. New high quality forages are looking very promising in India. We have improved our inventory management very well in 2011. This is an important investment we are making in order to have a secure future. which is 34. Sunflower and Sweet Corn. During the year. Overall. The crop economics of corn.77% in 2011.77% higher than that of the previous year. As stipulated in the Listing Agreement with the Stock Exchanges. We are increasing the outlay on the use of molecular marker technology in our breeding programs. Adverse weather conditions in Australia.214. This helped us to improve our working capital management this year. We want to increase the speed of creating new products through the use of modern technology. 2006. This is a major area of investment for us. We are paying special attention to diversification of production and building supply chain capabilities in the organization.29) Lacs for the previous year.07 Lacs for the previous year. Thailand and USA led to production losses which affected our business in the last quarter. sunflower and canola look very good for the farmers which should help them to buy high quality inputs. Sweet Corn crop led the pack with a growth of 88% followed by Canola at 78%.229. Our wheat breeding program in Australia has started releasing good products to the market which are getting increasing acceptance from the farmers. We continued to invest 11% of our revenues in research. We are also looking at making processing arrangements in some of these countries either by ourselves or through outsourcing. Europe. These investments will improve the quality of our products. the Company has recorded a consolidated total income of 95. the consolidated financial statements have been prepared by the Company in accordance with the relevant accounting standards issued by the Central Government under Companies (Accounting Standards) Rules. Corn. Thailand.652. MODERNISATION / EXPANSION PROJECTS We are modernizing our plants in Thailand and Argentina. We expect good growth in all our subsidiaries although some of them will have a tight availability of seed in 2012. The audited consolidated financial statements together with Auditors’ Report thereon form part of the Annual Report FUTURE OUTLOOK 2012 presents exciting prospects for us.05 Lacs as against loss after tax of ( 2. We continue to access GM traits through licensing mechanism and are in the process of introducing GM corn in Brazil and Philippines. This is a result of tight production planning and generation of good sales as per plan.BUSINESS OVERVIEW/OPERATIONS The global consolidated business of Advanta has grown by an impressive 34. Among our subsidiaries we had excellent performances in Argentina. particularly corn. We improved gross margins of our business from 44% to 46% through improved prices and reduced cost of goods. USA and some of our International markets. Corn is expected to drive most of our future growth and we are paying special attention to building capabilities in this crop. North Latin America and Africa we are looking at taking up new production sites in some of these countries. 10 .745. We are increasing processing and storage capacities in many of our subsidiaries so that they can take care of the increasing load of the products. Sorghum continues to be our largest crop contributing about 35% of our business. Sunflower at 57% and Sorghum at 21%. We expect very good growth in all our crops but more particularly in Canola. We have reviewed our growth prospects till 2015 and are putting in place plans to plug the gaps in the required strengths and skills. The weather so far has been holding good.

2011 in view of inadequate profits during the said year. 8th February.2/ 2011. Pursuant to the provisions of Section 212 of the Companies Act. CASH FLOW ANALYSIS The Cash Flow Statement for the year under reference in terms of Clause 32 of the Listing Agreement entered by the Company with the Stock Exchanges is annexed hereto. SUBSIDIARY COMPANIES As on date. This will help us to use the latest technology to enhance the speed and the power of our breeding programs. audited consolidated financial statements for the year ended 31st December. – Thailand. Dt. Balance Sheet. Advanta International B.I) Ltd. 86 of the Annual Report. Further. Abridged Financial Information of Subsidiaries is also given on page No. In this regard. and Profit and Loss account and other documents of its subsidiaries along with its Balance Sheet. being the Holding Company need not attach the Balance Sheet. Advanta Netherlands Holdings B. your Company undertakes that the Annual Accounts of the subsidiary Companies and the related detailed information will be made available to its shareholders and to the shareholders of its subsidiary companies seeking such information at any point of time. – Netherlands. Advanta Commercio De Sementas LTDA – Brazil. Pacific Seeds Holding (Thailand) Ltd – Thailand.British Virgin Islands. Advanta Semillas. the Company is required to attach the Directors’ Report.V. Ltd. Advanta Seed International – Mauritius.We are also building capabilities with a SNP marker platform in our Argentina biotech laboratory. 11 . Advanta Holdings B. the Annual Accounts of the subsidiary Companies shall also be kept for inspection by any shareholder in its head office and that of the concerned subsidiary companies. – Australia. Advanta (B. it may be noted that pursuant to the directions issued by the MCA. your Directors present the Audited Consolidated Financial Statements in the Annual Report.V. In view of the compliance of said conditions.V. Pacific Seeds Pty. and eleven step-down subsidiaries: Advanta US Inc. Pacific Seeds (Thai) Ltd. – USA. vide General Circular No. no amount is proposed to be transferred to General Reserve. Ltd.. Further. prepared in compliance with applicable Accounting Standards is attached herewith. CONSOLIDATED FINANCIAL STATEMENTS In accordance with the Accounting Standard AS-21 on Consolidated Financial Statements read with Accounting Standard AS-23 on Accounting for Investment in Associates and with reference to Clause 32 of the Listing Agreement. 1956. – Netherlands.V. SAIC – Argentina. Long Reach Plant Breeders Management Pty. This implies that your Company. of its subsidiaries subject to compliance of certain conditions attached with the said exemption. 2011. PT Advanta Seeds Indonesia Indonesia. – Netherlands. general exemption has been granted to the Companies from complying with the provisions of Section 212 of the Act in respect of their subsidiaries. Advanta Finance B. We have set up new breeding programs in France and Brazil which will help us to develop products for Europe and the tropical corn markets.. – Netherlands. Profit and Loss account etc. As such. 2011. Further Statement as required under Section 212 in respect of Subsidiaries is annexed to this Report. Advanta Seeds Limited – India. your Company has five direct subsidiaries: Unicorn Seeds Private Limited – India. DIVIDEND The Board of Directors do not recommend any dividend for the financial year ended 31st December. – Australia. This is a major investment we are making to increase our global reach.V.

2011 27.2011 26. the Company redeemed the outstanding Commercial Paper (CP) of January 2011.05.42 lacs divided into 16.223 equity shares of 10 each to employees upon exercise of options under Employee Stock Option Scheme – 2006 of the Company. the Company has not received any conversion notice from the FCCB holders. Sateesh Hegde Atluri Suresh 2223 4028 504 05. COMMERCIAL PAPER In January 2012.989 equity shares of 10/. The said instruments were rated ‘CARE A1+(SO)’ [A One Plus (Structured Obligation)] by CARE. bonds converted. Begumpet.NON-CONVERTIBLE DEBENTURES During the year under review the Company has redeemed 2130 Unsecured Non-Convertible Debentures of 10.421 equity shares of 10 each.44.00.000 each aggregating to 162 crores.2011 26. Hyderabad has been appointed as Issuing and Paying Agent.2012 David Callachor H. 15 Crores which were issued in 12 .000. Axis Bank Ltd.000 each aggregating to 213 Crores out of 3750 Unsecured Non-Convertible Debentures of 10.685. of Shares Date of Listing BSE NSE 04.854. FOREIGN CURRENCY CONVERTIBLE BONDS During the year under review the Company has issued USD 50. The said bonds are listed at Singapore Exchange Limited. Subsequently. Upon full conversion of these bonds.44.851. the Credit Rating Agency.each to 1.000 Floating Rate Guaranteed Convertible Bonds due 2016 Convertible into Ordinary Shares or Global Depositary Shares representing Ordinary Shares of the Company.03.2012 ** 28..94. During the year. the equity capital of the Company will increase by an amount of 7. The particulars of shares allotted during the FY ended 31st December.02. As on date. the Company has 1620 outstanding Unsecured Non-Convertible Debentures of 10.03.00.04.2012 ** ** since the corresponding number of shares were allotted on the date of this report itself.02. INCREASE IN SHARE CAPITAL Consequent to the issue of 2. M/s.210 comprising of 79.212 equity shares of 10 each. the requisite listing application will be made in the due course of time. Details such as the total bonds issued. 2011 and till the date of this Report are as follows: Date of Allotment Name of the Allottees No.04. the Company has issued 300 units of Commercial Paper (CP) of face value of 5 lacs each aggregating to 15 Crores in demat mode.2012 09.000 each aggregating to 375 Crores.00. the paid-up share capital of the Company increased from 1. expected number of shares allotted with respect to outstanding FCCBs have been given in detail in Corporate Governance Report.685. having a tenor of 364 days. during the year under review.20 lacs divided into 16.

PT Advanta Seeds Indonesia. Longreach Plant Breeders Management Pty. Auditors of the Company retires at the ensuing Annual General Meeting. Jaidev R. Statutory Auditors of the Company vide Para 8 in their Report on Consolidated Financial Statements read with Note No. offer themselves for re-appointment. 1956. In this regard. Chartered Accountants. SR Batliboi and Associates. Further. They have expressed their willingness to continue and confirmed that their appointment.26th April.03. 10 of Schedule 21 (Notes to Consolidated Accounts) have qualified the recognition of deferred tax assets with respect to the subsidiary companies i. the transferee Company and Unicorn Seeds Private Limited.e. manufacture and sale of licensed products in consideration of royalty from UPL. Board of Directors recommends their re-appointment. Gandhi and Mr. Advanta Comercio De Sementes LTDA. the members may note that the Hon’ble High Court of A.RIGHTS ISSUE As the members are aware. shall be in accordance with the provisions of Section 224(1B) of the Companies Act. vide its Order. Dt... stating that there is no virtual certainty to indicate that the said companies will have sufficient taxable profits against which such deferred tax assets can be utilized. AUDITORS AND AUDITORS REPORT M/s. Pacific Seeds Pty Ltd. the Wholly owned Subsidiary of your Company. DIRECTORS Pursuant to the provisions of Section 256 of the Companies Act. where the shares of the Company are listed.. AGREEMENT WITH UPL With the completion of the pilot project on integration of sales and marketing function with United Phosphorus Limited (UPL) in India. have accorded their respective approval to the said Scheme. as a progression of this process. the Company has filed Draft Letter of Offer (DLOF) for issue of equity shares on rights basis aggregating to an amount upto 200 Crores with SEBI on 30. both the Stock Exchanges. and the Companies (Acceptance of Deposits) Rules. SCHEME OF AMALGAMATION AND ARRANGEMENT The members may note that the Board of Directors of your Company has approved the Scheme of amalgamation and arrangement between Advanta India Limited. during the year under review. 1975. the Company has entered into a License Agreement subsequent to the end of the year for transfer of technical know-how. if made. 13 . 2012 for the purpose of approving the said Scheme. BSE and NSE. Advanta Holdings BV and Advanta Semillas SAIC. In view of the aforesaid. 1956 and the Articles of Association of the Company Dr. Pacific Seeds Holdings (Thailand) Ltd. 1956. being the transferor company and their respective shareholders and creditors (the Scheme). Pursuant to this arrangement the Company has sold its inventories to UPL. PUBLIC DEPOSITS The Company has neither accepted nor renewed any deposits from public within the meaning of Section 58A and 58AA of the Companies Act. Ltd. Shroff.2011. authorizing the Board to raise funds upto an amount of 750 Crores.. SEBI approval is awaited in this regard. 2011. Directors of the Company retire by rotation at the ensuing Annual General Meeting and being eligible. an enabling resolution was passed in their EGM held on 17th March. Vasant P.P. 2012 has directed that the respective Meetings of Equity Shareholders and Trade Creditors of the Company be held on 2nd June.

19 of Schedule 21. 1975 as amended. the applicable accounting standards have been followed and that no material departures have been made from the same. 2011. EMPLOYEES STOCK OPTION PLAN (ESOP) The Advanta India Limited Employees Stock Option and Shares Plan . Auditors of the Company. 1956 and the Companies (Particulars of Employees) Rules. 14 . Out of the total options granted. ii. 1988 are provided in Annexure – B which forms part of this report. That proper and sufficient care has been taken for the maintenance of the adequate accounting records in accordance with the provisions of the Companies Act. The options were granted with a vesting period spread over 4 years and 6 months. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO Particulars with respect to conservation of energy. foreign exchange earnings and outgo pursuant to Section 217(1) (e) of the Companies Act. vesting of options granted is conditional upon the employee’s tenor and upon the Company meeting annual performance benchmarks based on parameters set by the Remuneration Committee.000 Equity Shares for its employees and for the employees of its subsidiaries on one to one basis at an exercise price of 285/. 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. vide para 9 of their Report on Consolidated Financial Statements have qualified their Report about “consolidated segment information. That the Directors had prepared annual accounts for the year ended 31st December. a report on Management Discussion and Analysis is furnished as Annexure .2006 (ESOPs) approved by the shareholders on 20th September.In this regard.10 of Schedule 21 (Notes to Consolidated Accounts) on recognition of deferred taxes containing management’s opinion that the said unused losses can be utilized. your Directors make the following statement in terms of Section 217 (2AA) of the Companies Act. technology absorption. In accordance with the said scheme. wherein the management explained its view that providing the said information would be prejudicial to the interest of the Company. Any shareholder interested in obtaining copy of the same may write to the Company Secretary at the registered office of the Company.68. That the selected accounting policies have been applied consistently and the judgments and estimates are reasonable and prudent so as to give a true and fair view of the state of the affairs of the Company at the end of the financial year and of the profit of the Company for that period. 1956. MANAGEMENT DISCUSSION AND ANALYSIS REPORT Pursuant to the provisions of Clause 49 of the Listing Agreement. 1956 read with the Companies (Disclosures of particulars in the report of Board of Directors) Rules. forms part of this report.A to this Report. 2011 on a going concern basis. PARTICULARS OF EMPLOYEES Particulars of employees as required under section 217(2A) of the Companies Act.” Your attention is invited to Note No. 1956: i. iii.being the market price as per the valuation report from a Chartered Accountant on the date of grant. None of the employees listed therein is related to any Director of the Company and all the employments are contractual in nature. DIRECTORS’ RESPONSIBILITY STATEMENT To the best of their knowledge and belief and according to the information and explanations obtained by them. That in the preparation of accounts for the period ended December 31. 2006 is in force. However in pursuance of section 219(1)(b)(iv) of the Companies Act. CONSERVATION OF ENERGY. this report is being sent to all the shareholders of the company excluding the aforesaid information and the said particulars are made available at the registered office of the Company. iv. your attention is requested to Note No. the Company reserved 1.

lenders. There is no default in payment of Annual listing fees.As the intrinsic value (difference between Market price and Excise price) on the date of the grant was nil. For and on behalf of the Board of Advanta India Limited Date: 07. their appreciation for the contribution. financial institutions.Kaundinya Managing Director 15 . banks.2012 Place: Hyderabad Vikram R Shroff Director V. Your Directors also place on record. commitment and dedication of the employees of the Company and its subsidiaries at all levels. CORPORATE GOVERNANCE As per Clause 49 of the Listing Agreement with the Stock Exchanges. 1999 are enclosed as Annexure – C to this Report. LISTING The Equity Shares of your Company continue to be listed on Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Limited (NSE). ACKNOWLEDGEMENTS Your Directors wish to express their grateful appreciation for the valuable support and co-operation received from customers. various statutory authorities and society at large. The disclosures as required under Clause 12 & 19 of SEBI (Employees Stock Option Scheme & Employees Stock Purchase Scheme) Guidelines. investors.R. DEMATERIALISATION OF SHARES It may be noted that the entire paid up equity share capital of the Company (except 102 shares) are held in dematerialized form as on 31st December 2011. a separate section on Corporate Governance practices followed by the Company together with a certificate from the Company Secretary in practice confirming compliance is annexed as part of the Annual Report.05. no compensation cost has been recognized in the financial statements. business associates.

ANNEXURE - A MANAGEMENT DISCUSSION AND ANALYSIS Mankind witnessed the first ray of biotechnology when wine from grapes was made and yeast was discovered. Though not pronounced, biotechnology did get into action centuries ago. With the advent of agriculture in the civilized world, a sort of technology of leavening bread, malting grains and making cheese became a domestic activity, until Levin Hook discovered the cell and Louis Pasteur discovered the process of pasteurization. The biological science went into an upward spiral when the double helix of the DNA was unfolded to the world in the early part of the 20th Century. INDUSTRY STRUCTURE AND DEVELOPMENTS Growth in agriculture is twice as effective in reducing poverty as growth in other sectors. Though the economic growth in the other nations was below average, the Asian economies, particularly India and China, recorded robust growth. The year also faced headwinds, such as European sovereign debt crises, political upheaval in middle-east, spill-over from the Japanese natural disaster and the high oil & other commodities prices as well as monetary tightening in emerging market economies to contain inflationary pressures. Agriculture in India has a significant history. As of 2011, India has a large and diverse agricultural sector, accounting, on average, for about 16 percent of GDP and 10 percent of export earnings. India’s arable land area of 159.7 million hectares (394.6 million acres) is the second largest in the world, after the United States. Its gross irrigated crop area of 82.6 million hectares (215.6 million acres) is the largest in the world. India has grown to become among the top three global producers of a broad range of crops, including wheat, rice, pulses, cotton, peanuts, fruits and vegetables. Worldwide, as of 2011, India has the largest herds of buffalo and cattle, is the largest producer of milk and has one of the largest and fastest growing poultry industries. Agriculture is demographically the broadest economic sector and plays a significant role in the overall socio-economic fabric of India. In fiscal year ending December 2011, with a normal monsoon season, Indian agriculture accomplished an all time record production of 85.9 million tons of wheat, a 6.3 percent increase from a year earlier. Rice output in India also hit a new record at 95.3 million tons, a 7% increase from the year earlier. Lentils and many other food staples production also increased year over year. Indian farmers, thus produced about 71 kilograms of wheat and 80 kilograms of rice for every member of Indian population in 2011. The per capita supply of rice every year in India is now higher than the per capita consumption of rice every year in Japan. India exported about 2 billion kilograms each of wheat and rice in 2011 to Africa, Nepal, Bangladesh and other regions of the world. The magazine released by the World Bank , “India Country Overview 2011” briefed Indian Agriculture as follows“With a population of just over 1.2 billion, India is the world’s largest democracy. In the past decade, the country has witnessed accelerated economic growth, emerged as a global player with the world’s fourth largest economy in purchasing power parity terms, and made progress towards achieving most of the Millennium Development Goals. India’s integration into the global economy has been accompanied by impressive economic growth that has brought significant economic and social benefits to the country. Nevertheless, disparities in income and human development are on the rise. Preliminary estimates suggest that in 2009-10 the combined all India poverty rate was 32% compared to 37% in 2004-05. Going forward, it will be essential for India to build a productive, competitive and diversified agricultural sector and facilitate rural, non-farm entrepreneurship and employment. Encouraging policies that promote competition in agricultural marketing will ensure that farmers receive better prices.” The global seed industry had a good year in 2011 with better weather in many parts of the world, except for the drought in Southern parts of US. The GM crops acreage continues to grow rapidly. The global seed market is currently being driven by the increasing acceptance and adoption of GM crops. The GM crops market size has grown to more than 150m ha in 2011. Corn and soybean still lead this revolution. Advanta’s participation 16

in this segment is still at early stages. We have GM canola in Australia, GM corn in Argentina and GM cotton in India. Our GM business is expected to grow rapidly in the next three years. The sorghum market is an important component of the global seed market. This market is primarily located in USA, Mexico, Argentina and Australia. Large sorghum acreages in India and Africa provide staple food to large populations. Advanta has a 26% share in the global sorghum market and is a leader in this market. Some of the significant developments related to the seed industry in India during the last two years have been discussed below. The Government of India imposed a moratorium on the development of Bt brinjal in February 2010. This moratorium has brought in a certain level of uncertainty in the development and the future of GM food crops in India. The regulatory process for the introduction of GM crops has also now prescribed obtaining a No Objection Certificate (NOC) from each of the state governments before undertaking GM crop trials in those states. This measure has considerably slowed down the regulatory process for GM crops in India as many states have not given the NOCs in 2011. These measures are expected to delay the introduction of more GM traits in India. The new seed bill has been waiting for introduction in the Parliament for some time now. The introduction has got delayed due to lack of political consensus on certain provisions in the proposed law. The proposed law prescribes a product registration system in India for the first time. This is good for responsible seed companies like Advanta. Advanta India endeavours to breed improved hybrid varieties of field (rice, cotton, mustard, forage & grain sorghums, corn, sunflower and pearl millet) and vegetable (okra, hot pepper, brinjal, gourds) crops to increase the productivity and profitability of Indian farmers. Investment in Agriculture R&D is the most effective way of ensuring food security and economic growth. The pressing need is for quality seed of varieties and hybrids that are not only high yielding but resilient to less input- water, fertilizers etc. Thus food security is interwoven with the seed security. Advanta’s R&D targeted its research for developing hybrids that excel in the market with quality assurance. Your Company with vast experience in seed production of major agricultural crops backed by a very strong in-house R&D program for crops sorghum, sunflower, rice and several vegetable crops nurtured a competitive edge in seed and agribusiness. OPPORTUNITIES AND OUTLOOK The fundamentals of the Agriculture sector continue to be robust and will drive growth in the years to come. The future of the seed industry in India is expected to be very good, with the demand for branded and quality seeds increasing. Seeds will be an important contributor to the targeted 4% growth in agriculture. Agriculture is gaining significance the world over with the rising needs from cultivation coupled with limited availability of land under cropping against the backdrop of the growing population. It is given that most of this need will be met by increasing productivity and making efficient use of natural resources which will see more constraints into the future. In India, the changing demographics and increasing aspirations is leading to a varied set of expectations in the farming sector. The Government too is seized of all these perspectives and is devoting increased attention to the farming needs. Government Initiative: The Union Government is planning the largest farm-loan relief package in the country’s history— totalling at least . 32,000 crore—and proposals to this effect will be unveiled when the Union Budget is presented on 29 February 2011. The package, which could end up totalling as much as 90,000 crore depending on the final shape of the proposals, is at the core of efforts by the ruling United Progressive Alliance and its largest constituent, the Congress party, to revive Indian agriculture and hopefully ride back to power in elections due in about a year.

17

People familiar with the process of creating the package say it will have several components—from a waiver of interest on some loans to the complete writing off of not just stressed assets (or bad loans) but even those loans that have been rescheduled. Outlook The Company remains focused on its key objectives of profitable and sustainable growth, maximizing operational efficiencies and striving to attain the highest standards of quality, safety and productivity through - continuous breeding research efforts, new product offerings, aggressive sales and marketing strategies, a strong brand, far-reaching distribution infrastructure and investments in people development, the Company is hopeful of maintaining its performance going forward. Efforts at offering better technologies, that provide better value to the farmer, while mitigating external risks, have been generally well received both by the Government and the farmer. Continued success in these efforts is critical to maintain these growth prospects. Some of the early indicators for 2012 are very positive. • The sunflower market and the corn markets continue to be very strong in 2012. There is a tight supply of sorghum seed because of drought in US. We will launch GM corn in Brazil and Philippines with outsourced products this year We are expecting our canola business to grow substantially compared to 2011 giving a big boost to our Australian business. The growth in Latin America is expected to be very strong in many parts like Argentina, Venezuela, Ecuador, etc. We expect a big jump in the corn business in Thailand and Indonesia. This year could be a significant one in the history of corn business in Advanta. We will see a substantial increase in the wheat business of Longreach due to increasing acceptance of our wheat varieties. Sweet corn and other vegetables business should see a good growth in this year. We already have good growth oriented indents for our sweet corn from some countries. We will launch our sunflower in Europe for the first time. This is a major step forward for our International business. Rice and corn businesses in India should grow well based on our product performance and the Government subsidy programs

SEGMENT–WISE OR PRODUCT-WISE PERFORMANCE Business Segment: The Company has considered hybrid seed business segment as the primary segment for disclosure. The Company is engaged in research, development, production and distribution of Hybrid seeds, which in the context of Accounting Standard 17, India is considered the only Business Segment. Geographical Segment: Our sales are predominantly generated from international markets contributing about 85% to total sales and about 15% of the sales are generated from domestic markets. Secondary segmental information is based on the geographical location of the customers. The geographical segment have been disclosed based on revenues within India (sales to customers in India) and revenues outside India (sales to customers located outside India). The relevant information has been given at Para 8 under Schedule T, (Notes to Accounts) RISKS, CONCERNS AND THREATS Agricultural activities are still greatly dependent upon the vagaries of the monsoon and upon soil conditions, availability of skilled labour, quality inputs and farm credit. Non-availability of adequate irrigation facilities in most parts of the country restricts the acreage and possibility of a 2nd crop in the year. Macro economic factors like post recession effect, inadequate rainfall, subdued demand, political uncertainty and social upheavals and acts of god may also affect the business of 18

The Company’s internal Audit function is staffed with qualified and experienced people. During the year. Apart from the quantum. exchange rate fluctuations and significant change in Political & Economic environment in India. the Company has organized training programmes for all categories of employees in different areas such as technical/skill development.92 Lacs as against 70652. customer orientation. the employee strength was 876. timing and even distribution of rainfall are critical for the domestic business. Strong support prices and better availability of credit will ease the pressure on the farming community.77% higher than that of the previous year. It appraises. The consolidated profit after tax stood at 1229. 19 . Actual results could differ substantially or materially from those expressed or implied. pest incidence and overall productivity and have a direct correlation with sales. CAUTIONARY STATEMENT Statements in the Management Discussion and Analysis describing the Company’s objectives. if any. estimates and expectations may be ‘forward-looking statements’ within the meaning of applicable laws and regulations. litigations. Business excellence.07 Lacs for the previous year. its activities and audit findings to the audit committee. An atmosphere of cordial relations with the employees has prevailed in the organization all over the world. Major fluctuations in total rainfall and its distribution affect the crop acreages. behavioral. Government of India has been supportive of technology advancement and improvement in agriculture techniques in the country. Farmers’ willingness and ability to spend will be an important driver to demand generation. reliability of financial reporting and compliance with applicable laws and regulations.29) Lacs for the previous year. tax laws. changes in the Government regulations. Adequate follow up measures are taken to overcome the pointed weaknesses. statutes and other incidental factors. The Company has recorded a consolidated total income of 95214. The standard operating Procedures (SOPs) put in place by the company is in line with the best global practices and has been laid down across the process flows along with authority controls for each activity. Management and other personnel and provides reasonable assurance regarding the effectiveness and efficiency of operations. The observations and suggestions of the internal audit are reviewed by the Audit Committee periodically. The business of the Company is dependent on various laws. enabling them to adopt the contemporary technological advancements. periodically. The rising crude prices could have an impact on the costs and prices of various products.05 lacs as against loss after tax of (2745. MATERIAL DEVELOPMENTS IN HUMAN RESOURCES/INDUSTRIAL RELATIONS FRONT INCLUDING NUMBER OF PEOPLE EMPLOYED. safety. Monsoon. Important factors that could effect the company’s operations include a downward trend in the Domestic Industry. DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE. Exchange rate fluctuations between Dollar and Rupee could also impact revenues as well as costs in the foreseeable future. which is 34. rise in input cost. The situation in 2011 was better than what it was in 2010. projections. Any developments in these areas affecting the freedom of the Company to operate may adversely affect the business and growth of the Company. environment standards. The Company believes that the quality of the employees is the key to its success in the long run and is committed to provide necessary human resource development and training opportunities to equip them with skill. statutory auditors and the management. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY Advanta has a robust internal audit and control system which is a process overseen by the Board of Directors. regulations and policies announced from time to time.your Company and also the industry at large. As on 31st December 2011. company values and code of conduct and product training.

Additional Investments and proposals. b) 20 . Total Energy consumption and energy consumption per unit of production: Not Applicable B. keeping in view the peculiar characteristics of the manufacturing processes involved in the seed industry. Utilisation of the Molecular Breeding Technology to increase the speed and precision in the Breeding Programs. Impact of the measures at (1) and (2) above for reduction of energy consumption and consequent impact on the cost of production of goods: Savings in energy consumption results in low cost of production and eventual rise in profitability. Specified areas in which R & D carried out by the Company: a) Identification and development of superior. wherein the Company is involved. identification of new energy saving means and measures are carried out. 2. However. The company is also using machines powered by variable frequency drive. 1988 and forming part of the Director’s Report for the period ended 31st December. being implemented for reduction of consumption of energy: We are planning to install turbo ventilators in our manufacturing plants to exhaust fumes. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO Information in accordance with the Companies (Disclosures of Particulars in the Report of the Board of Directors) Rules. which is green and cost effective. We are also using conduction. Using this. 1. where boilers fired by waste coconut cells. We use convection techniques. Development. which are more energy-efficient than the existing machines. Powered by wind. if any.ANNEXURE . 2011: A. However. 3. TECHNOLOGY ABSORPTION RESEARCH AND DEVELOPMENT (R & D) 1. CONSERVATION OF ENERGY Energy conservation measures taken: The Company is not a typical manufacturing unit and hence does not consume substantial energy as such. high yielding pest and disease resistant proprietary hybrids. testing and specification setting of packaging materials. where solar cabinets with photovoltaic cells are used to convert solar energy into heating energy upto 40 to 42 degree Celsius. heat water. the process of drying of seeds involves fair amount of energy consumption. which in turn is used to dry the wet cobs. these are noise and pollution free. we replace Liqufied Petroleum Gas (LPG) with renewable solar energy. dust and smoke and ensure good uniform ventilation at premises. which in turn dries the wet cobs to the desired moisture content. on an ongoing basis.B CONSERVATION OF ENERGY. 4. Hence significant energy conservation measures have been undertaken during the year.

Year of Import : c. Higher productivity and economic returns to the farming community consequent to development of high yielding Hybrids. Technology Imported : Plant breeding and biotechnology know-how relating to seeds. Quality evaluation of seeds. Technology up gradation takes place on a continuous basis during the year Yes To continue ongoing research b.32 *The expenditure given above does not include the amount spent on Nutrisun project. Expenditure on R & D: Description Standalone FY 2011 Capital Revenue Total R&D Expenditure as a % of Net Sales 105.30 6623. TECHNOLOGY ABSORPTION. 3. Benefits derived as a result of the above efforts: Product improvement and development leading to cost reduction by introduction of high yielding superior quality disease and pest resistant hybrids for the benefit of the Indian farmer. Information regading Imported Technology: a.78 858. d. Entering new market segments. Future Plan of Action : To continue and extend research in the above areas.40 964. made towards technology Absorption. ADAPTATION AND INNOVATION 1. Efforts. 3.22 8.87 823. 4.31 FY 2010 121. Increased speed of introduction of new products.35 790. Benefits derived as a result of the above R & D: a) b) c) d) e) Cost reduction. import substitution and strategic resource management.35 FY 2010 32. adaptation and innovation: Utilizing plant breeding and biotechnological tools for the development of high yielding proprietory hybrids suitable for Indian agro climatic environment.12 Consolidated FY 2011 184.50 10.46 9216. Has Technology been fully absorbed Future plans of action : : 21 .20 6744.00 9400.18 7.46 10.2. in brief. 2.

03 2574.75 368.86 ______ 4194.20 _______ 1175.14 ______ For and on behalf of the Board of 1378.47 ______ 4751.93 ______ Advanta India Limited Date: 07.04 242.C.98 26.02 55.63 64.41 ______ (b) Initiatives taken to increase : (c) Export plans : 2. FOREIGN EXCHANGE EARNINGS AND OUTGO (a) Activities relating to exports : Export of various Hybrid Seeds in field crops and vegetable crops Started producing seeds for our other subsidiaries and for export markets taking the advantage of the low cost of production in India.57 553. Current year ( in Lacs) 407.31 68.32 2897.27 58.39 _______ Previous year ( in Lacs) 19. Foreign Exchange used (on stand-alone basis) Consumables Capital Expenditure Import of Seeds Travel Legal and Professional Charges Other Expenses Interest Reimbursement of expenses Total Foreign Exchange Earned (On stand-alone basis) FOB Value of Exports Intrest Income Reimbursement of expenses Others Total : : : : : : : : : : : : : : 548.06 61.05. Company is having ambitious export plan of hybrid seeds in the year 2012 by exploring the possibilities of taking production of hybrid seeds in India on behalf of overseas Buyers.51 13.2012 Place: Hyderabad Vikram R Shroff Director V R Kaundinya Managing Director 22 . 1.22 104.50 ______ 521.13 1201.

970 11.50% per annum Vesting period + 18 months 43% 1. during the year. Diluted Earnings Per Share (EPS) pursuant to issue of Shares on exercise of options calculated in accordance with Accounting Standard 20. including the following weighted average information: a) b) c) d) e) Risk free interest rate Expected life Expected volatility Expected dividends and The price of the underlying share in market at the time of option grant. equal to or exceeding 1% of the issued capital (excluding outstanding warrants and conversions) of the Company at the time of the grant. The Difference between the employee compensation cost using the intrinsic value of the stock options. The impact of this difference on profit Basic EPS of the Company.42 285/285/- Description of the method and significant assumptions used during the year to estimate the fair values of options.616 19.712 Nil 633.555 3028 Nil Nil 8.439 2. Weighted average exercise price of options where exercise price is less than market price Weighted average exercise price of options where exercise price is equal to or exceeds market price Weighted average fair value of options where exercise price is less than market price Weighted average fair value of options where exercise price is equal to or exceeds market price Profit reduced by As at 31st December.432 5.66 Lacs 8. of options amounting to 5% or more of options granted during the year (c) Identified employees who were granted options. 1999 Particulars Granted during the year Pricing Formula Vested during the year Exercised during the year Forfeited during the year Lapsed during the year Outstanding unvested at the end of the year Exercisable vested options at the end of the year Total number of options in force Total No of Shares arising as a result of exercise of option (cumulative) Variation of Terms of options Money Realised by Exercise of options during the year Employee wise details of options granted during the year : (a) Senior managerial personnel(b) Any other employee who received a grant in any one year.ANNEXURE – C Disclosure pursuant to Clause 12 & 19 of SEBI (Employees Stock Option Scheme & Employees Stock Purchase Scheme) Guidelines. 2011 Nil Black Scholes Formula 11. 7.223 7.170 59. and the employee compensation cost that shall have been recognized if it had used the fair value of the options.446 54.34 7.66 Lacs 7.40% per annum Unlisted Company 23 .

two are non-executive and three are independent directors. The Board periodically evaluates the need for change in its composition and size. Hardeep Singh Promoter & Non Executive Director Executive Director Promoter & Non Executive Director Independent Director Independent Director Independent Director Chairman Managing Director Director Director Director Director 24 .ofshares held in the Company (%) 1015350 (6. but also to go beyond that by putting into place the procedures and systems. The basic Philosophy of Corporate Governance of the Company is to achieve business excellence and enhance the shareholder value. Gandhi Mr.04) Mr. keeping in view the interests of all stakeholders.REPORT ON CORPORATE GOVERNANCE 1.05) 846650 (5. one of whom is executive or whole-time director. based on the contemporary circumstances and requirements. accountability and integrity. Advanta believes that as we move closer towards our aspirations of becoming a global leader in seed business. Jaidev R Shroff Mr. The Company has been regularly implementing the best practices of Corporate Governance in order to attain transparency. 2.02) Nil Nil 6400 (0. Shroff Mr. The Company believes that strong Corporate Governance is just to meet the statutory requirements. Vikram R. The Board believes that the current size is appropriate. The Company is therefore conscious of the fact that to achieve success. Composition and Category of Directors: Name of Director Category Designation No. Company’s Philosophy ANNEXURE ‘D’ Advanta is committed to the highest standards of corporate governance and seeks to follow the business principles and ethics in all its activities and processes. Kaundinya Mr. Currently the Board consists of 6 members. which are in accordance with the best practices of Corporate Governance. The Company’s products are marketed not only in India but all across the globe. Vinod Sethi Dr. our Corporate Governance Standards must be globally acclaimed and recognized. Vasant P. V. a very high level of ethical values is to be maintained by the Management Team and all other employees.02) 7910 (0. R. Board of Directors (a) Size and composition of the Board Our policy towards the composition of the Board is to have an appropriate mix of executive and independent directors to maintain the independence of the Board and to separate its functions of governance and management.

Companies Registered under Section 25 of the Companies Act.(b) Meetings of the Board • The Board meets atleast once in a quarter to review the quarterly results and to transact the other items on agenda. at the same time in more than (15) companies. The Minutes of the proceedings of the Meetings are noted and the draft Minutes are circulated amongst the members of the Board for their perusal and feedback. 2011 August 10. Gandhi Mr. None of the Directors of the Company holds office as Director. Every Board member is free to suggest additional items for inclusion in the agenda. if any. Comments. of meetings during the year Held Attended No. 2011 February 28. in consultation with the Chairman of the Meeting. ✦ ✦ ✦ ✦ ✦ February 18. R. 2011 November 7. Vikram R. 25 • . Shroff Mr. 2011 The maximum time gap between any two Board Meetings did not exceed four months. in consultation with the Managing Director and CFO and circulates the same in advance to the Directors. Senior management personnel are invited to provide additional inputs for the items being discussed by the Board as and when necessary. • • • • Five Board meetings were held during the year ended December 31. along with explanatory notes. Jaidev R. Shroff Mr. Vinod Sethi Dr. of Memberships in other companies Boards Committees Chairman (Including ship of Chairmanship) Committees Nil 1 Nil 7 1 Nil Nil Nil Nil 1 Nil Nil Attendance at previous AGM Mr. Kaundinya Mr. Vasant P. as mentioned above. The Minutes are approved by the Board members at the next Meeting. No Director of the Company is a member in more than ten (10) Committees or is a Chairman of more than five (5) Committees across all companies in which he is a Director. (c) Attendance at the Board meetings / AGM and directorships / committee membership held by the Directors as at December 31. do not include Directorship(s) in Foreign Companies. received from the Directors are recorded in the Minutes. 2011 April 28. The Company Secretary prepares the agenda for each meeting. Presentations are made on business operations to the Board by the CEO / CFO / other Functional Heads. 2011 Name of the Director No. 1956 and Private Limited Companies. Additional meetings are held as and when necessary. 2011. Hardeep Singh • 5 5 5 5 5 5 2 5 5 4 4 4 13 2 11 10 1 3 Absent Present Absent Present Present Absent The Directorships held by Directors in other Companies. V.

acquisitions of companies or collaboration agreements Transactions that involve substantial payments toward goodwill.Kaundinya. Jaidev R. The code of conduct is posted on the website of the Company (www. show cause. capital budgets and updates • • • • • • • • • • • • • • • • • Quarterly results of our operating divisions or business segments Minutes of meetings of audit. prosecution and penalty notices Fatal or serious accidents. any significant development in human resources / or Industrial relations front Sale of material nature. if material Details of foreign exchange exposure and the steps taken by the Management to limit risks of adverse exchange rate movement Non-compliance of any regulatory. 26 . None of the Independent Directors has any pecuniary relationship or transaction with the Company except that the sitting fee paid for each meeting of the Board of Directors attended by him.• For the purpose of reckoning number of Committees in which a Director is a member /chairman. None of the Directors has any relationship with other directors of the Company except Mr. Dividend data Information on recruitment and remuneration of senior officers just below the Board level. the memberships / Chairmanships in Audit Committee and Shareholders’/Investors’ Grievance Committee alone are considered. including appointment or removal of the CFO and Company Secretary. including regular updates such as: • Annual operating plans and budgets. The Board minutes of the subsidiary companies. Vikram R. Shroff and Mr. demand. if any Materially important litigations. the Board has laid down a code of conduct for all Board members. risk management and investor grievance committees as well as abstract of circular resolutions passed Information about foreign currency risks and the risks pertaining to derivatives and swap transactions. statutory or listing requirements. of investments. subsidiaries and assets which are not in the normal course of business Quarterly details of foreign exchange exposures and the steps taken by the management to limits the risk of adverse exchange rate movement. Managing Director. • • (d) Availability of information to Board members The Board has complete access to any information within the Company. All Board members and Senior Management Personnel affirm compliance with the code on an annual basis and the declaration to the effect by Mr. brand equity and intellectual property Significant labour problems and their proposed solutions.R. V. as well as shareholder services such as non-payment of dividend and delays in share transfer (e) Code of conduct As per the requirements of Clause 49 of the Listing Agreement entered with the Stock Exchanges. com). Shroff who are related to each other as brothers. dangerous occurrences and issues related to material effluent or pollution Any material defaults in financial obligations to and by the Company or substantial non-payment for goods sold Any issue that involves possible public or product liability claims of a substantial nature Details of joint ventures.advantaindia. remuneration. Senior Management Personnel and Designated Employees of the Company. is attached to this report.

The minutes of the Board meetings of the subsidiary companies are noted at the Board meetings of the Company. 2011. 2011. Vikram R Shroff . Mr. Hardeep Singh Category held Independent Director Non – Executive Director Independent Director Independent Director 4 4 4 4 No. April 28. 2011. by the following means: i. 2011. Vinod Sethi .Chairman Mr. Vinod Sethi Mr. the Company monitors the performance of its Indian subsidiary companies. AUDIT COMMITTEE: (a) Constitution of Audit Committee i. Company Secretary is the Secretary of the Committee. Vasant P.Member Mr.Member Dr. The Audit Committee comprises three Independent directors and one Non-executive director. Gandhi . 1956 and Clause 49 of the Listing Agreement with the Stock Exchanges. August 10.(f) Subsidiary Companies As per requirement of Clause 49 of the Listing Agreement entered with the Stock Exchanges. are reviewed by the Audit Committee of the Company periodically. Shroff Dr. (b) Meetings and attendance during the year During the financial year ended December 31. Hardeep Singh – Member Mr. There was no change in the composition of the said Committee during the year under review: • • • • ii. The composition of the Committee meets the requirements of Section 292A of the Companies Act. 3. The details of significant transactions and arrangements entered into by the subsidiary companies are placed periodically before the Board of the Company. in particular the investments made by subsidiary companies. ii. 2011 and November 7. The attendance of each member of the Committee is given below: Name of the Member Mr. 27 . 2011. of meetings attended 3 4 4 4 The meetings of the Audit Committee were generally attended by the head of Finance and Statutory Auditors as invitees. The financial statements. Vinod Sethi. four audit committee meetings were respectively held on February 28. inter alia. Vasant P. Vikram R. iii. Gandhi Mr. Chairman of the Committee attended the previous Annual General Meeting of the Company held on April 29.

). rights issue. the replacement or removal of the statutory auditor and the fixation of audit fees. with the management. sufficient and credible. 1956 and includes such other functions as may be assigned to it by the Board from time to time. (a) Powers of the Audit Committee include: • • • • (b) To investigate any activity within its terms of reference. with particular reference to: • • • • • • • • • • • • Matters required to be included in the Director’s Responsibility Statement to be included in the Board’s report in terms of clause (2AA) of section 217 of the Companies Act. with the management. preferential issue. 1956 Changes. Role of the Audit Committee includes: • • • • Oversight of the company’s financial reporting process and the disclosure of its financial information to ensure that the financial statement is correct. To obtain outside legal or other professional advice.(c) Terms of reference The terms of reference of our Audit Committee are in accordance with the listing Agreement entered with Stock Exchanges read with Section 292 A of the Companies Act. To secure attendance of outsiders with relevant expertise. debenture holders. Reviewing. with the management. if it considers necessary. in particular qualifications / remarks / observations made by the Auditors on the financial statements Management Discussion and Analysis of financial conditions and results of operations Reviewing. Recommending to the Board. re-appointment and. the financial statements before submission to the board for approval. with the management. performance of statutory and internal auditors. and making appropriate recommendations to the Board to take up steps in this matter Reviewing. the statement of funds utilized for purposes other than those stated in the offer document/ prospectus/ notice and the report submitted by the monitoring agency monitoring the utilization of proceeds of a public or rights issue. the quarterly financial statements before submission to the board for approval Review of the financial statements of subsidiary Companies To look into the reasons for substantial defaults in the payment to the depositors. Approval of payment to statutory auditors for any other services rendered by the statutory auditors. the statement of uses / application of funds raised through an issue (public issue. shareholders (in case of non payment of declared dividends) and creditors Reviewing. the appointment. if required. adequacy of the internal control systems 28 • . To seek information from any employee. in accounting policies and practices and reasons for the same Major accounting entries involving estimates based on the exercise of judgment by management Significant adjustments made in the financial statements arising out of audit findings Compliance with listing and other legal requirements relating to financial statements Disclosure of any related party transactions Review of draft Auditors Report. if any. etc.

out of which 3 Directors are Independent: • • • • • Mr. 2011 and November 7. experience & background. Gandhi Category Independent Director Non-Executive Director Non-Executive Director Independent Director Independent Director 29 No. Jaidev R. Gandhi – Member The Company Secretary is the Secretary of the Committee. including the structure of the internal audit department. our Remuneration Committee comprises 5 Non –Executive Directors.• Reviewing the adequacy of internal audit function. about the nature and scope of audit as well as post-audit discussion to ascertain any area of concern Approval of appointment / reappointment / remuneration of CFO (or any other person heading the finance function or discharging that function) after assessing the qualifications. staffing and seniority of the official heading the department. (b) Meetings and attendance during the year During the financial year ended December 31. Vasant P. REMUNERATION COMMITTEE (a) Constitution of Remuneration Committee During the year and also as on date. reporting structure coverage and frequency of internal audit Discussion with internal auditors any significant findings and follow up there on. Vasant P. of the candidate Carrying out any other function as may be mentioned in the terms of reference of the Audit Committee • • • • • The Audit Committee discharges its functions and obligations on regular basis and on the occurrence of the events. Hardeep Singh – Chairman Mr. April 28. 2011. Shroff – Member Mr. Vinod Sethi Dr. 2011. Vinod Sethi – Member Dr. Vikram R. Reviewing the Risk Management policies. of meetings held attended 4 4 4 4 4 4 1 4 3 4 . Hardeep Singh Mr. Shroff Mr. The attendance of each member of the Committee is given below: Name of the Member Mr. Vikram R. August 10. if any. Shroff Mr. practices and the findings of any internal investigations by the internal auditors into matters where there is suspected fraud or irregularity or a failure of internal control systems of a material nature and reporting the matter to the board Discussion with statutory auditors before the audit commences. Shroff – Member Mr. 4. 2011 four remuneration committee meetings were held respectively on February 28. 2011. etc. Jaidev R.

80 0.000 Non-executive and Independent Directors are paid sitting fees of attended by them.e. Carrying out any other function related to the terms of reference of the Remuneration Committee.for each meeting of the Board 2.60 0. the committee shall take into account financial position of the Company. Special Allowance and incentives.80 122. benefits.80 * Salary includes HRA.75 Nil Nil Nil Nil Nil Nil Nil N. based on their performance and defined assessment criteria. to be paid / granted. 30 . including any revision in remuneration payable to Executive/Non. To decide on the elements of remuneration package of all the directors i. the Committee takes into account the following: • • • • • Financial position of the Company Scales prevailing in the industry Appointee’s qualification and expertise Past performance Past remuneration etc. trend in the industry.R. bonus.11 0. 20. qualification.80 0. Gandhi 98. including independent directors.000/. Meetings of the Committee shall be held whenever matters pertaining to the remuneration payable. Any other functions / powers / duties as may be entrusted by the Board from time to time (d) Remuneration Policy Remuneration of the Executive Director is determined by the Remuneration Committee within the permissible limits under the applicable provisions of law and as approved by the shareholders.A 0. While approving the remuneration. Kaundinya Vinod Sethi Hardeep Singh Vasant P. to Non Executive Directors. The total amount of sitting fees for the year was (e) Details of remuneration paid during the financial year ended December 31. experience and past performance of the appointee: The Committee shall be in a position to bring about objectivity in determining the remuneration package while striking the balance between the interest of the Company and shareholders. The Company’s remuneration policy is driven by the success and performance of the managerial person.36 Nil Nil Nil Sitting fee Total V. salary.Executive Directors are to be made.60 0. of the Board. stock options.20. To administer the Employee Stock Option and Shares Plan – 2006 Recommendation of fees / compensation/ stock options. etc. if any. While reviewing the remuneration of management personnel. pensions. 2011 to the Directors ( in lacs) Name Salary* Commission Perks/Contr ibution to Retirement Benefits 23.(c) Terms of reference The terms of reference of the Remuneration Committee are as under: • • • • • • • • • The Remuneration Committee has been constituted to recommend/review remuneration of the Managing Director and Whole-time Directors.

There is no complaint pending unresolved at the year end. As per Employment Agreement. if any. Jaidev R. within seven days from the date of receipt of any complaint.● Mr. No other Director of the Company holds any Stock Options in the Company. Issuance of duplicate shares Review of shares dematerialization and all other related matters To perform all functions relating to the interests of shareholders/investors of the Company as may be required by the provisions of the Companies Act.R. the Committee has delegated powers to the Registrar and Transfer Agent.2011.2012. Severance fees of Mr. Vikram R. Kaundinya has been granted 5460 Stock Options in the Company till 31st December. Investigate into investors complaints and take necessary steps for redressal thereof Transfer and transmission of securities Dealing with complaints about non-receipt of declared dividend.V. ii. M/s Sharepro Services (India) Pvt. 1956. Vinod Sethi . Further 3230 additional Stock Options have been granted on 27.Member The Company Secretary is the Secretary of the Committee. Company Secretary is the Compliance Officer.Member Mr. Listing Agreement with the Stock Exchanges and guidelines issued by the SEBI or any other regulatory authority To expedite the process and for effective resolution of grievances/complaints.R. 31 .Y. Shroff . Employment period of Mr. vi. Till date 4028 options have been vested out of which –3345 options have been exercised and allotted to him. V.Chairman Mr.R. v.02. It redresses the grievances/complaints of shareholders/ investors under the supervision of Company Secretary and Compliance Officer of the Company. The Company has received the following communication from the shareholder(s) and this was replied/resolved to the satisfaction of the shareholder(s). 2011. No performance linked incentives were paid during the previous F. to redress all complaints/ grievances/inquiries of the shareholders/investors. Shroff . (b) Terms of reference The terms of reference of the Shareholders’ / Investors’ Grievance Committee are as under: i. Ms. SHAREHOLDERS’ / INVESTORS’ GRIEVANCE COMMITTEE (a) Constitution of the Committee The Committee comprises three Non-executive directors of whom one is Independent director: • • • Mr. iv. Kaundiyna shall continue till the executive attains the age of superannuation or retirement. iii. Pushpalatha K. Nature of request/complaint Non-receipt of dividend warrant Received 1 Resolved 1 The Committee along with the Registrars and Share Transfer Agents of the Company follow the policy of attending to the complaints. V. Ltd. ● ● ● ● 5. non-receipt of Annual Report etc.Kaudinya shall be accrued benefits and 6 months basic salary..

Hotel Minerva Grand.M. 2006. over and above the limits prescribed under section 309 read with Schedule XIII of the Companies Act. V. (i) To approve the alteration of Articles of Association of the Company by way of inserting sub-article (5) in Article 7 of the Articles of Association.30 A.M. 2007 and on 31st December. Hotel Minerva Grand.6. Sarojini Devi Road. 2009 for a maximum period of three years at a maximum remuneration of Rs. 2011 11:30 A. V. 2010 11. date and time of the Annual General Meetings held during the preceding three years and the Special Resolutions passed thereat are as under: Venue “Earthen Oven” Fortune Park Vallabha. Secunderabad-500003 June 22. 2009.R. Kaundinya as the Managing Director of the company with effect from 10th July.30 A. 2009 11. GENERAL BODY MEETINGS (a) Annual General Meetings The venue. 2008. Kaundinya as the Managing Director of the company. Special resolution passed None April 29.M. Secunderabad-500003 Date and Time April 29. on 31st December. Banjara Hills. 1956 for three Financial Years ended on 31st December. (i) Reappointment of Mr. Road No. Sarojini Devi Road. Quoram Hall. 32 . Hyderabad-500034 Quoram Hall. (ii) Waiver of excess remuneration being paid to Mr. 12.R. Two Crores per annum with effect from 10th July.

750 Crores. • 33 . Rights Issue. DISCLOSURES i) Disclosure on materially significant related – party transactions that may have potential conflict with the interest of the Company at large. (e) Procedure for postal Ballot The procedure for postal Ballot is / shall be as per the provisions contained in this behalf in the Companies Act. Therefore providing details of person who conducted the Postal Ballot exercise does not arise. 2001 and any amendments thereof. Details of the Special Resolutions (i) Issue of further Equity shares and / or other convertible financial instruments through Public Issue. date and time of the Extraordinary General Meetings held during the preceding three years and the Special Resolutions passed thereat are as under: Year 2011 Venue “Earthen Oven” Fortune Park Vallabha.M. 2009 11.500034 Date and Time March 17. 1956 and rules made thereunder. Road No.(b) Extra Ordinary General Meetings Particulars with regard to venue. 12. (i) Issue of further Equity shares and / or other convertible financial instruments through Public Issue. Members may refer to the said Notes to Accounts for the details of related party transactions. Sarojini Devi Road. Rights Issue. • None of the transactions with the related parties is in conflict with the interest of the Company.30 A. Companies (Passing of the resolutions by Postal Ballot) Rules. All related party transactions are negotiated on arms length basis and are intended to further the interests of the Company. Hotel Minerva Grand. if required to be passed in the future. 2006 are set out at Clause 9 under Schedule T (Notes to Accounts). there is no proposal to pass any Special resolution through Postal Ballot process. Hyderabad . Preferential Issue and / or Preferential Allotment for an aggregate amount not exceeding Rs. viz. no postal ballot process was taken up and hence no special resolutions were passed through postal ballot. The particulars of transactions between the Company and its related parties as per the Accounting Standard -18 “Related Party Disclosure” issued by the Central Government under Companies (Accounting Standards) Rules. 7. Preferential Issue and / or Preferential Allotment for an aggregate amount not exceeding Rs. forming part of the Annual Accounts. (c) Postal Ballot During the year.M. 750 Crores. 2011 11:00 A. 2010 2009 No Extraordinary General Meeting was held during the year Quoram Hall. Banjara Hills. The Company’s major related party transactions are generally with its Subsidiaries and Associates. Secunderabad-500003 November 6. will be decided at the relevant time.. Special resolutions. (d) Special Resolutions proposed to be conducted through Postal Ballot As of now.

on any matter relating to the capital markets during the last three years.M.com and also communicate through investors’ toll number provided therein. Time & Venue : Wednesday. The Company has complied with the requirements of regulatory / statutory authorities on capital market and no penalties or strictures have been imposed on the Company by the Stock Exchanges. on any matter related to capital markets.com.30 A.ii) Details of non-compliance by the company. complaints or suggestions to the Company .12. India 34 . Directors’ Report. Banjara Hills. The Annual Report of the Company is also available on the Company’s website in a user-friendly and downloadable form. Annual Report. The Company has designated the following e-mail id exclusively for investor servicing. containing. The Management Discussion & Analysis (MD &A) Report forms part of the Annual Report and is displayed on the Company’s website www. GENERAL SHAREHOLDER INFORMATION (a) Day. iii) Details of compliance with mandatory requirements and adoption of non-mandatory requirements of this clause: The Company has complied with all the mandatory requirements and has adopted the following non-mandatory requirement of clause 49. Official news releases made to media are displayed on the Company’s website www.com contains a separate section ‘Investor Relations’ where shareholders information is available. penalties. Road No. SEBI or any other statutory authority.advantaindia. Auditors’ Report and other important information is circulated to members and others entitled thereto.investor@advantaindia. The Company’s website. For any queries. • • • • 9. at Hotel Fortune Park Vallabha. and strictures imposed on the company by the Stock Exchange or SEBI or any other statutory authority.advantaindia. Andhra Pradesh. Audited Annual Accounts. Hyderabad. MEANS OF COMMUNICATION • Quarterly results are published in The Business Standard and Andhra Prabha. Consolidated Financial Statements. 2012 at 11. inter alia. 8. Official Media Releases are sent to the Stock Exchanges.advantaindia.advantaindia. Date. • Remuneration Committee The Company has constituted Remuneration Committee to inter alia recommend/review remuneration to Managing Director / Wholetime Directors and Non-Executive Directors based on their performance and defined assessment criteria.com. The results are also posted on the Company’s website www.com. during the last three years. www. 20th June.

5th Floor Plot No. Scrip Code : 946596 ISIN : INE517H08015 Annual listing fees for the NCDs for the Financial Years 2011-12 & 2012-13 have been paid by the Company. 2012 Financial reporting for the quarter ending June 30. Equity Shares The Company’s shares are listed on the following Stock Exchanges with effect from 19th April 2007. Stock Code : ADVFCB16 35 . (NSE) Address Phiroze Jeejeebhoy Towers Dalal Street. G Block Bandra-Kurla Complex Bandra (E). Foreign Currency Convertible Bonds (FCCBs) The Bonds are listed at Singapore Exchange Securities Trading Limited.(b) Financial Calendar The Financial Year is 1st January to 31st December and the financial results are proposed to be declared as per the following tentative schedule: Particulars Financial reporting for the quarter ending March 31. Mumbai – 400 001 Exchange Plaza. (d) Listing Details i. ii. (BSE) National Stock Exchange of India Ltd. iii. Privately placed Debt instruments The Company’s privately placed Non-Convertible debentures are listed on The Wholesale Debt Market (WDM) Segment of BSE. Mumbai – 400051 Stock Code 532840 ADVANTAEQ ISIN : INE517H01010 Annual listing fees for the Financial Years 2011-12 & 2012-13 have been paid by the Company to both the Stock Exchanges. 2012 Financial reporting for the quarter ending September 30. C/1. 2012 Financial reporting for the quarter ending December 31. Name of the Stock Exchange Bombay Stock Exchange Ltd. 2012 Tentative Schedule First fortnight of May 2012 First fortnight of August 2012 First fortnight of November 2012 Second fortnight of February 2013 (c) Book Closure The Register of Members and Share Transfer Books of the Company shall remain closed from 11th June 2012 to 20th June 2012 (both days inclusive) in connection with the proposed 18th Annual General Meeting.

00 5001.10 284.05 291.15 355.90 5333.70 318.95 307.25 5326.76 17. Advanta (Closing Share prices in NSE) Month January 2011 February 2011 March 2011 April 2011 May 2011 June 2011 July 2011 August 2011 September 2011 October 2011 November 2011 December 2011 Sensex 18.01 16.20 16.20 340.50 251.45 255.00 305.20 325.676.70 399.00 255.503.20 281.(e) Market Price Data Month Bombay Stock Exchange Limited (BSE) (In per share) High January 2011 February 2011 March 2011 April 2011 May 2011 June 2011 July 2011 August 2011 September 2011 October 2011 November 2011 December 2011 454.70 232.00 356.453.454.35 261.40 325.60 299.00 304.50 413.123.135.00 222.705.445.00 Low 322.60 4832.75 16.60 221.96 18.05 4624.15 5647.05 344.30 NSE(Advanta) 335.845.10 208.75 305.00 347.00 National Stock Exchange of india Limited (NSE) (In per share) High 454.20 306.00 4943.90 Low 321.20 258.80 269.75 5749.25 5833.87 18.76 17.45 414.90 462.50 5560.BSE Sensex Vs Advanta (Closing Share prices in BSE) and Nifty vs.10 263.00 413.45 255.40 318.55 36 .10 209.327.15 287.30 214.45 307.40 19.00 255.00 462.70 339.05 Nifty 5505.25 Performance in comparison to broad based indices for FY 31st December 2011 .70 259.28 18.00 292.10 340.85 364.50 411.75 350.95 350.00 304.00 344.22 19.197.46 15.60 215.20 255.80 344.40 5482.75 355.70 340.05 233.92 BSE(Advanta) 332.70 303.15 260.80 294.80 364.20 399.70 217.00 296.00 214.823.25 355.

Advanta Share Price in BSE NSE Nifty Vs.BSE Sensex Vs. Advanta Share Price in NSE 37 .

are processed and the share certificates returned within a period of 15 days in most cases. (i) Distribution of Shareholdings as on 31st December.90 0.164 114. Ltd. Building No.22 1.68 0.456 35. comprisigng of 5446 options which remained unvested & outstanding and 54.170 vested options remained to be exercised.03 0.41 0.37 100.13 2. Andheri – Kurla Road. Gala No.776 % (3) 95. Near Sakinaka Telephone Exchange. Share transfer requests which are received in physical form.46 1.com (g) Share Transfer System All the transfers received are processed and approved by the Shareholders’ / Investors’ Grievance Committee at its meeting or by way of circular resolution. 52 to 56. and in any case within 30 days. from the date of receipt.856 211. Each option is convertible into an equity share of 10/.10 0.each.934 152.(f) Registrar & Share Transfer Agents : M/s.00 Shareholding Shares (4) 486.854. The vesting period and the exercise period of the stock options shall be determined by the Remuneration Committee subject to the minimum vesting period being one year.000 equity shares of 10/.89 0.284 16.37 0. subject to the documents being in order and complete in all respects. 2011. E-mail: sharepro@shareproservices.735. As on December 31.444 15.00 38 . The Company obtains from a Company Secretary in practice Half-Yearly Certificate of compliances with the share transfer formalities as required under Clause 47 (c) of the Listing Agreement with the Stock Exchanges and files a copy of the Certificate with the Stock Exchange(s).48 0. Mumbai – 400072. Sakinaka. 2011: Category (Shares) Shareholders Folio(s) (1) Upto 501 1001 2001 3001 4001 5001 10001 Total 500 1000 2000 3000 4000 5000 10000 And Above (2) 7.26 93. Sharepro Services (India) Pvt.36 100.445 81.629 36.616 options were in force.21 0.212 % (5) 2.397 191 80 32 10 8 29 29 7.13 0. 59. (h) Employee Stock Option Scheme The Company has earmarked 1.68.each under the Employee Stock Option Scheme 2006. Samhita Complex. 13A – B.

57 4.00 100.00 6.99 6.00 0.00 0.02 0.51 1.51 1.01 0.00 0.03 0.00 19.00 5237000 31.62 0.Non Repatriable .00 22.93 0.00 0.00 6.02 62.89 0.00 5237000 31.41 0.00 0.00 50. 2011 Category Category of Shareholders Number of Share holders Total No. of Shares Number shares held in demat form Total shareholding as a percentage of total number of shares As a percentage of ( A+B) (A+B+C) (I) (A) (1) (a) (b) (c) (d) (e) (2) (a) (b) (c) (d) ( II ) Shareholding of Promoter and Promoter Group2 Indian Individuals/H.00 0.02 5237000 5237000 0 5237000 60.98 100.98 100.00 0.00 55.00 0.00 0.00 15. 1 lakh ii) Holding nominal share capital in excess of Rs.57 8.41 37.41 37.02 0.00 50.00 50.07 (c) Any Other(specify) Overseas Corporate Bodies Non Resident Individuals .02 0.07 39 .02 0.41 0.57 8.02 62.00 0. Inv Sub Total (B)(1) Non Institutions Bodies Corporate Individuals i) Holding nominal share capital upto Rs.99 6.00 0.97 0.49 0.00 0.00 19. 1 lakh Shares pledged otherwise encumbered No.01 0.Repatriable Foreign National Sub Total (B)(2) Total Public shareholding TOTAL (A)+(B) (C) 1 2 Shares held by Custodians and against which Depository Receipts have been issued Promoter and Promoter Group Public GRAND TOTAL (A)+(B)+( C) 0 0 7776 0 0 16854212 0 0 16854110 0.89 0.00 0.00 22.62 0. of Shares ( VIII ) As a % of (IX ) =(VIII)/(IV) *100 ( III ) ( IV ) (V) ( VI ) ( VII ) 2 0 3 0 0 5 1 0 0 0 1 6 847650 0 8589857 0 0 9437507 1015350 0 0 0 1015350 10452857 847650 0 8589857 0 0 9437507 1015350 0 0 0 1015350 10452857 5.00 55.10 1 1 0 0 0 16 0 18 575 7076 6 0 19 74 2 7752 (B)=(B)(1)+(B)(2) 7770 7776 494476 2700 0 0 0 3307014 0 3804190 1444479 760877 238364 0 2096 150597 752 2597165 6401355 16854212 494476 2700 0 0 0 3307014 0 3804190 1444479 760775 238364 0 2096 150597 752 2597063 6401253 16854110 2.F Cental/State Government(s) Bodies Corporate Financial Institutions/Banks Any Other (specify) Sub Total (A)(1) Foreign Non Resident Individuals/Foreign Nationals Bodies Corporate Institutions Any Other (specify) Sub Total (A)(2) Total holding of Promoter and Promoter Group (A)=(A)(1)+(A)(2) (B) (1) (a) (b) (c) (d) (e) ( f) (g) (2) (a) (b) Public Shareholding3 Institutions Mutual Fund/UTI Financial Institutions/Banks Central/State Government(s) Venture Capital Funds Insurance Companies Foreign Institutional Investors Foreign Venture Cap.57 4.00 15.00 100.02 5.U.03 0.00 2.97 0.97 55.00 0.Shareholding Pattern as on December 31.00 0.93 0.

04 0. the entire equity share capital comprising of 16854212 equity shares of Rs.73.00 40 .68.96 4.54.00 100. National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL).81. Electronic/Physical NSDL CDSL Physical TOTAL Number of shares held 1..(j) Dematerialization of shares and liquidity The Company’s shares are available for dematerialization in both the Depositories i.10 each (almost 100%) has been dematerialized as on December 31.022 102 1.10 each.088 6. Except 102 equity shares of Rs. 2011.e.61.212 Percentage(%) of Issued Capital 95.

2011 to July 2. Sonepat.00. 2011) Convertible into 31. Krishna Nagar. Andhra Pradesh. there are no other instruments. 2016 NIL Initial Conversion Ratio Number of Bonds Converted as on December 31. 2011 Number of Bonds outstanding as on December 31.13. Kundali. Medchal Mandal. (iii) Ranga Reddy District : Bharati Brahma Seeds.778 shares per Bond of USD 2. A.518 002. 110.P Kalakkal Village.000 each from July 15. (l) Plant Locations (i) (ii) Kurnool Medchal : : B Camp Post.44. Sec.421 Apart from aforesaid Bonds and the stock options issued under the Employees Stock Option Scheme of the Company.84 representing a premium of 10% to INR 257. 501 082. 2011 Amount Outstanding as on December 31. Kurnool . Nutankal Village. Haryana. Medak Dist – A. ISIN Initial Conversion Price FCB160713 XS0633235782 INR 282. 2011 Expected number of shares to be issued 250 USD 50 Million 79. India. the reference share price (closing price on NSE on June 30. Toopran Mandal. Phase – IV. 57. conversion date and likely impact on equity The Company has issued USD 50 Million Floating Rate Guaranteed Foreign Currency Convertible Bonds due 2016 as per the details given below: Identification No. (iv) Haryana : Plot No. Industrial Estate. India.P. Gundla Pochampally Ranga Reddy District.(k) Outstanding GDRs/ADRs/Warrants or any convertible instruments. 41 . whether GDRs/ADRs/Warrants or any other convertible instruments which are outstanding as on date.

2015 29th July. #8-2-418. 1992. Investor Correspondence: Registered Office address Krishnama House. The unclaimed dividend amount lying in the unpaid dividend account of the respective financial year is as follows.2011 Yes Bank Axis Bank 5110 5814 Estimated date for Transfer to IEPF 3rd June. Hyderabad confirming compliance with the conditions of Corporate Governance as stipulated under Clause 49 is annexed hereinafter. 7.com r.Nil HDFC Bank 3 42 .advantaindia. Compliance Certificate Certificate from M/s. 2016 27th July. Krishnama House. 2013 ii. CEO and CFO Certification The Managing Director and Chief Financial Officer of the Company give annual certification on financial reporting and internal controls to the Board in terms of Clause 49. 4th Floor. India website: www. S.7. Financial Year 2009 2008 2007 2006 Unclaimed Dividend as on 31st December.advantaindia. Road No. Hyderabad-500034. Prevention of Insider Trading In accordance with the requirements of SEBI (Prohibition of Insider Trading) Regulations. Rao & Associates. 4th Floor. shall be transferred to Investor Education & Protection Fund (IEPF) established by the Central Government under Section 205C of the said Act.m. 1956 the dividend declared by the Company which remains unclaimed for a period of seven years. This Certificate shall be forwarded to the Stock Exchanges where the securities of the Company are listed. P. Company Secretaries in Practice. the Company has instituted a comprehensive code of conduct for prohibition of insider trading in the Company’s shares. Any query on Annual Report : Ms. HDFC Bank . Pushpalatha K Company Secretary #8-2-418.P. Banjara Hills. Other useful information to Shareholders i. The Managing Director and Chief Financial Officer also give quarterly certification on financial results while placing the financial results before the Board in terms of Clause 41. Pursuant to Section 205A of the Companies Act. A. Investors are requested to encash the unclaimed dividend amount before the expiry of seven years. Road No. p. o.Banjara Hills.com n. 2014 26th October. q. Hyderabad – 500034 Ph: (91-40) 6628 4000 – 15 Fax: (91-40) 2335 0856/6628 4040 Website: www.

In cases where the securities are held in joint names. Members holding in physical form are requested to notify to the Company. 1956 facilitates the nomination to share / debenture holders. In case of non-residents members are advised to immediately notify the Company or to the DPs as the case may be (i) change in their residential status on return to India for permanent settlement (ii) particulars of their NRE bank account with a bank in India. the nomination has to be conveyed by the shareholders to their respective Depository Participant directly. vi. v. power of attorney etc. This facility is mainly useful for all those holding the shares / debentures in single name. especially investors holding securities in single name. change of address. Members holding shares in electronic form are requested to send their instructions regarding change of name. Nomination facility : Section 109A of the Companies Act. directly to their Depository Participant (DP) as the same are maintained by them.iii. any change in their registered address and bank account details promptly by written request under the signature of sole/first joint holder. as per the format prescribed by them. Members are welcome to give their valuable suggestions for improvement of investor services.05. if not furnished earlier. iv. in all correspondence with the Company and the Registrar and Transfer Agent of the Company. Investors are advised to avail of this facility. Kaundinya Managing Director 43 .2012 Place : Hyderabad V. Members are requested to quote their folio/DP and Client ID Nos. nomination. For the shares held in dematerialized form. For and on behalf of the Board of Advanta India Limited Date : 07.R. The nomination form may be had on request from the Company’s Registrar and Transfer Agents for the shares held in physical form. as the case may be. the nomination will be effective only in the event of death of all the holders. bank details.

iii. and instances of significant fraud of which we have become aware and the involvement therein.02. These statements do not contain any materially untrue statement or omit any material fact or contain statements that might be misleading. c. 2011. if any. to the best of my knowledge and belief. to the best of our knowledge and belief. significant changes in accounting policies during the year and that the same have been disclosed in the notes to the financial statements. Kaundinya Managing Director CEO / CFO Certification To The Board of Directors Advanta India Limited We hereby certify that: a. if any. ii.2012 Place: Hyderabad V. We have reviewed the financial statements and the cash flow statement of the Company for the year ended December 31. Date : 27. 2011 and to the best of our knowledge and belief: i.02. We accept responsibility for establishing and maintaining internal controls for financial reporting. deficiencies in the design or the operation of such internal controls. V. Managing Director of M/s. We have indicated to the auditors and the Audit Committee i. applicable laws and regulations. b. Date : 27. Kaundinya Managing Director Manoj Gupta Group Chief Financial Officer 44 . R. ii.Declaration on Code of Conduct I.R. evaluated the effectiveness of the internal control systems of the Company pertaining to financial reporting and we have disclosed to the auditors and the Audit Committee. There are. declare that all the members of the Board and senior management personnel have affirmed compliance with the code of conduct of the Company for the year ended December 31. of the management or an employee having a significant role in the Company’s internal control system over financial reporting. illegal or violative of the Company’s code of conduct.R. wherever applicable. which are fraudulent. of which we are aware and the steps we have taken or propose to take to rectify the identified deficiencies. These statements together present a true and fair view of the Company’s affairs and are in compliance with the existing accounting standards. no transactions entered into by the Company during the year. d. significant changes in the internal control over financial reporting during the year. Advanta India Limited. Kaundinya.2012 Place: Hyderabad V.

05. Our examination was limited to the procedures and implementation thereof. No. The compliance of the conditions of the Corporate Governance is the responsibility of the management of the Company. for the year ended December 31. In our opinion and to the best of our information and according to the explanation given to us. For P.2012 Place : Hyderabad P.COMPLIANCE CERTIFICATE ON CORPORATE GOVERNANCE To The Members of Advanta India Limited We have examined the compliance of conditions of Corporate Governance by M/s Advanta India Limited. adopted by the Company and ensuring the compliance of the conditions of corporate governance.P. 2011 as stipulated in Clause 49 of the Listing Agreement of the said Company with the Stock Exchanges. we certify that the Company has complied with conditions of Corporate Governance as stipulated in the above mentioned listing Agreement. We further state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency or effectiveness with which the management has conducted the affairs of the Company.S.S Rao Partner Membership No: 9769 C.Rao & Associates Company Secretaries Date : 07.: 3829 45 .

Our responsibility is to express an opinion on these financial statements based on our audit.: 41870 2. 1956 (‘the Order’).Batliboi & Associates Chartered Accountants Firm Registration No. These financial statements are the responsibility of the Company’s management. we enclose in the Annexure. of the cash flows for the year ended on that date. We conducted our audit in accordance with auditing standards generally accepted in India. 2011 and taken on record by the Board of Directors. the balance sheet. evidence supporting the amounts and disclosures in the financial statements. 1956. give the information required by the Companies Act. 1956. the said accounts. In the case of the profit and loss account. 1956. 2011 from being appointed as a Director in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act. 2003 (as amended) issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act. An audit includes examining. we report that none of the Directors is disqualified as on 31December. 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 purposes of our audit. read together with the notes thereon. a) b) c) In the case of the balance sheet. The balance sheet. In our opinion. (b) (c) (d) (e) (f) . For S. As required by the Companies (Auditor’s Report) Order. the profit and loss account and the cash flow statement dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act. in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India. on a test basis. 2011 and also the Profit and Loss Account and the Cash Flow Statement of the Company for the year ended on that date. In our opinion and to the best of our information and according to the explanations given to us. as well as evaluating the overall financial statement presentation. of the profit of the Company for the year ended on that date. of the state of affairs of the Company as at 31st December. We have audited the attached Balance Sheet of Advanta India Limited as at 31st December. proper books of account as required by law have been kept by the Company so far as appears from our examination of those books. annexed thereto. On the basis of written representations received from the Directors. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. 2011.R. a statement on the matters specified in paragraphs 4 and 5 of the said Order. the profit and loss account and the cash flow statement dealt with by this report are in agreement with the books of account. Further to our comments in the Annexure referred to above. 101049W Place : Hyderabad Date : February 27. 2012 46 per Sudhir Soni Partner Membership No. 4.AUDITORS’ REPORT To The Members of Advanta India Limited 1. and In the case of cash flow statement. as on 31st December. An audit also includes assessing the accounting principles used and significant estimates made by management. 3. We believe that our audit provides a reasonable basis for our opinion. In our opinion.

In respect of loans taken. (v) (b) (vi) (vii) The Company has not accepted any deposits from the public.800 lacs and the year-end balance of the loan taken from such company was 2. The Company has granted loan to a Company covered in the register maintained under section 301 of the Companies Act. There was no substantial disposal of the fixed assets during the year. 1956. (c) (ii) (a) (b) (c) (iii) (a) (b) (c) (d) (e) (f) (g) (iv) In our opinion and according to the information and explanations given to us. the Company has an internal audit system commensurate with its size and nature of its business. is reasonable having regard to the size of the Company and the nature of its assets. the rate of interest and other terms and conditions for such loans are not prima facie prejudicial to the interest of the Company.400 lacs and the year-end balance of the loan granted to such company was 1.440 lacs. we have not observed any continuing failure to correct major weakness in internal control system of the company. 1956 that need to be entered into the register maintained under section 301 have been so entered. no major weakness has been noticed in the internal control system in respect of these areas. we are of the opinion that the particulars of contracts or arrangements referred to in section 301 of the Companies Act. The frequency of verification is reasonable and no material discrepancies have been noticed on such physical verification. in our opinion. In our opinion. we are unable to comment whether the transactions were made at prevailing market prices at the relevant time. In our opinion and according to the information and explanations given to us. The maximum amount involved during the year was 40. The management has conducted physical verification of inventory at reasonable intervals during the year. 47 . In respect of transactions made in pursuance of such contracts or arrangements exceeding value of Rupees five lakhs entered into during the financial year. As explained to us. 1956. 1956. The Company is maintaining proper records of inventory and no material discrepancies were noticed on physical verification. The maximum amount involved during the year was 1. In our opinion and according to the information and explanations given to us. the repayment of principal amount and payment towards interest are made as and when demanded by the Company. (a) According to the information and explanations provided by the management. The loans granted are repayable on demand.Annexure referred to in paragraph 3 of our report of even date Re: Advanta India Limited (‘the Company’) (i) (a) (b) The Company has maintained proper records to show full particulars including quantitative details and situation of fixed assets. During the course of our audit. repayment of the principal amount is as stipulated and payment of interest has been regular. As informed. some of the fixed assets have been physically verified by the management under the phased programme of physical verification which.400 lacs. the rate of interest and the other terms and conditions for said loan are not prima facie prejudicial to the interest of the Company. because of the unique and specialized nature of the items involved and absence of any comparable prices. there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchases of inventory and fixed assets and for the sale of goods and services. There is no overdue amount of loan granted to a company covered in the register maintained under section 301 of the Companies Act. During the course of our audit. The Company has taken loans from a company covered in the register maintained under section 301 of the Companies Act. 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.

employees’ state insurance. no undisputed amounts payable in respect of provident fund. the Company has given guarantee for loans taken by others from bank or financial institutions.(viii) To the best of our knowledge and as explained. 1956 for the products of the Company. (xv) According to the information and explanations given to us. the Company has not granted loans and advances on the basis of security by way of pledge of shares. According to the records of the Company. wealth-tax. investor education and protection fund. According to the information and explanations given to us and based on the documents and records produced to us. 48 . the Central Government has not prescribed maintenance of cost records under clause (d) of sub-section (1) of section 209 of the Companies Act. employees’ state insurance. customs duty and cess which have not been deposited on account of any dispute. Accordingly. customs duty. sales-tax. wealth-tax. service tax. cess and other undisputed statutory dues were outstanding. 1961 Nature of Dues Amount ( in lacs) Period to which the Amount relates Assessment year 2005-06 Assessment year 2006 -07 Assessment year 2007-08 Forum where dispute is pending Income Tax 4. (x) The Company’s accumulated losses at the end of the financial year are less than fifty per cent of its net worth. there are no dues of sales tax. sales-tax. investor education and protection fund. 2003 (as amended) are not applicable to the Company.73 Pending before ITAT 141. service tax. wealth-tax. (xi) (xii) (xiii) In our opinion. the provisions of clause 4(xiii) of the Order are not applicable to the Company. service tax. cess and other material statutory dues have generally been regularly deposited with the appropriate authorities. we are of the opinion that the Company has not defaulted in repayment of dues to bank or debentures holders. According to the information and explanations given to us. for a period of more than six months from the date they became payable. the dues outstanding of income-tax on account of any are as follows: dispute (b) (c) Name of the Statute Income Tax Act. debentures and other securities. the Company had incurred cash loss. at the year end. Excise duty is not applicable to the Company.55 Pending before ITAT According to the information and explanation given to us. the provisions of clause 4(xiv) of the Companies (Auditor’s Report) Order. debentures and other investments. the terms and conditions whereof in our opinion are not prima-facie prejudicial to the interest of the Company. securities. The Company has not incurred cash loss during the year. (xiv) In our opinion. In the immediately preceding financial year. customs duty. the Company is not dealing in or trading in shares.84 Pending before ITAT 80. Excise duty is not applicable to the Company. the Company is not a chit fund or a nidhi / mutual benefit fund / society. Therefore. The Company has no outstanding dues in respect of a financial institution. income-tax. income-tax. Based on our audit procedures and as per the information and explanations given by the management. (ix) (a) Undisputed statutory dues including provident fund.

on which no security or charge is required to be created. (xx) The Company has not raised any money through public issue during the year. (xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the Company. 1956.R. For S. 101049W per Sudhir Soni Partner Membership No.: 41870 Place : Hyderabad Date : February 27.(xvi) Based on information and explanations given to us by the management. Batliboi & Associates Chartered Accountants Firm Registration No. 2012 49 . (xix) The Company has unsecured debentures outstanding during the year. (xxi) Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and as per the information and explanations given by the management. (xviii) The Company has not made any preferential allotment of shares to parties or companies covered in the register maintained under section 301 of the Companies Act. term loans were applied for the purpose for which the loans were obtained. we report that no fraud on or by the Company has been noticed or reported during the year. we report that no funds raised on short-term basis have been used for long-term investment.

035.12 57.38 37.37 44.07 42.65 5.04 G H I J K 5.53 369.80 48.94 45. R.333.285.473.419.98 40.155.588. 2012 V.296.616. 2011 ( in lacs) As at 31st December.319. 2012 For and on behalf of the Board of Advanta India Limited Vikram R.013.543.808.31 C D 3.949.70 2.53 53.: 41870 Place : Hyderabad Date : February 27. Shroff Director Manoj Gupta Chief Financial Officer Place : Hyderabad Date : February 27.35 1.22 in Schedule T) Profit and Loss Account Notes on Accounts The Schedules referred to above and notes to accounts form an integral part of the Balance Sheet As per our Report of even date For S.33 6.71 53.86 5.57 88.13 53.685.11 5.632.24 260.917.77 48. 2010 ( in lacs) A B 1.728.780.39 37.036.47 6. R.732.63 34.537.356.57 3.500.572.963.83 Total APPLICATION OF FUNDS Fixed Assets a) Gross Block b) Less: Accumulated Depreciation / Amortisation c) Net Block d) Capital Work-in-progress including capital advances 97.51 Investments Current Assets.79 30.382.74 88.753.41 2.606.27 254.44 10.603.23 T 5.606.69 6.685.BALANCE SHEET AS AT 31ST DECEMBER 2011 Schedule ( in lacs) SOURCES OF FUNDS Shareholders’ Funds a) Share Capital b) Share Application Money Pending Allotment c) Reserves and Surplus Loan Funds a) Secured Loans b) Unsecured Loans As at 31st December.Loans and Advances a) Inventories b) Sundry Debtors c) Cash and Bank Balances d) Other Current Assets e) Loans and Advances (A) Less : Current Liabilities and Provisions a) b) Liabilities Provisions F 41.98 39.51 L 5.081.42 1.21 2.081.31 (B) Net Current Assets (A-B) Miscellaneous Expenditure Share Issue Expenses (Refer Note No.223.23 E 10.20 6.031.65 5.352.963.40 1.780.56 37.71 47.231.57 Total 97.224.42 38. BATLIBOI & ASSOCIATES Chartered Accountants Firm Registration Number : 101049W per Sudhir Soni Partner Membership Number.25 4. Kaundinya Managing Director Pushpalatha K Company Secretary 50 .89 41.24 977.15 787.258.48 5.580.

192.923.67) 10.66 1.11 879.: 41870 Place : Hyderabad Date : February 27.133.71 1.593.780.57 (2.617.593.132.19 2.052.36 (2.14) 195.119.976.100.418. R.PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER 2011 Schedule INCOME Sales Less: Rebates and discounts Other Income From Operations Other Income EXPENDITURE Cost of Goods Manufactured / Raw Material Consumed (Increase) / Decrease in Inventories Personnel Expenses Operating and Other Expenses Interest and Other Financial Costs Depreciation / Amortisation O P Q R S 6.00 175.113.74 13.91) 1.00 The Schedules referred to above and the notes to accounts form an integral part of the Profit and Loss Account As per our Report of even date For S.34 10.69 4.57) (1.00 (2.66 1.780.08 5.12 in Schedule T) Notes on Accounts T (2.047.00 1.361.56 PROFIT/(LOSS) BEFORE PRIOR PERIOD ITEMS AND TAXATION Less: Prior Period Expenses (Refer Note No.872.028.) (Refer Note No.94 16.20 in Schedule T) PROFIT/(LOSS) BEFORE TAXATION Provision for Taxation -Current Tax Total tax expense NET PROFIT/(LOSS) Balance brought forward from previous year Profit available for appropriation Appropriations: Transferred to Debenture Redemption Reserve 1. 2012 For and on behalf of the Board of Advanta India Limited Vikram R.42 8.67) (17.842.27 3.382.975.666.14) 53. Kaundinya Managing Director Pushpalatha K Company Secretary 51 .66 6.418.00 (2.780.33 15.57) 8.450.09 1.22 10.66 (2.34 830.418. Shroff Director Manoj Gupta Chief Financial Officer Place : Hyderabad Date : February 27.780.044.60 0. 2012 V.25 (299.57) (17.57) - Deficit carried to Balance Sheet Earnings Per Share : Basic Diluted Face value Per Share (Rs.022.66 (2.04 14. BATLIBOI & ASSOCIATES Chartered Accountants Firm Registration Number : 101049W per Sudhir Soni Partner Membership Number. R.61 17.22 175.47 2.685.05 528.976.13 880.23) 1.14) M N ( in lacs) Current Year ( in lacs) Previous Year ( in lacs) 13.89 10.91 4.46 3.

593.39 (4.03) (127.94 44.52 2.26) (0.09) 2.47 (53.75) 4.93) 25. Kaundinya Firm Registration Number : 101049W Director Managing Director per Sudhir Soni Partner Manoj Gupta Pushpalatha K Membership Number.59) (0.60) 774.61) 552.14) (28.53 (447.16 347.202.300.13 2.248.703.72) 7.66 879.08) 2.189.62) 28.15 (467.531.35 0.35) 509.61) (65.14) 37.016.14) (A) CASH FLOW FROM INVESTING ACTIVITIES Purchase of fixed assets and Intangible Assets Sale of fixed assets Sale of Investments Payment of Milestone liability Maturity/(deposit made) of fixed deposits Loans/Advance to subsidiaries given / (received back) .03) (53.: 41870 Chief Financial Officer Company Secretary Place : Hyderabad Place : Hyderabad Date : February 27.284.247.284.118.92 274.21 (387.35 (650.27) 4.732.80 (3.31) 2.259.80 880.00) 360.81 509.09) 2.50 50.430.05 76.44) (642.085.41) 3. net Interest received Dividend Received Miscellaneous Income Interest and other financial costs Operating Profit before working capital changes Adjustments for: Decrease / (Increase) in Sundry Debtors Decrease / (Increase) in Loans and Advances Decrease / (Increase) in Inventories Increase / (Decrease) in Current Liabilities Increase / (Decrease) in Provisions Cash generated from/(used) in Operations Direct taxes paid Cash flow before prior period adjustments Prior Period Adjustments (Other than Taxation) Net cash from/(used) in Operating Activities B 1.77) 4.923.74) 1.55 (27.38) 2.78 (1.842.247.42 13.99 161.00 (440.79 0.29) (0.295.80 0.452.99 (1.979.94 70.21) (4.25) (29.511.59) (254.75) (47.438. R.80 1.86 467. 2012 Date : February 27.85 (35.91 (1.11 2.50 893. R.CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2011 Current Year ( in lacs) A CASH FLOW FROM OPERATING ACTIVITIES Net Profit/(Loss) before Taxation Adjustments for : Depreciation Debit balances writtenoff Loss/(Profit) on sale of Fixed Assets Provision for Doubtful Debts/Advances Provisions for Doubtful Debts/Advances written back Unrealised Exchange Gain.33 180.73 (334.11 1.05) (695.49) 6.28) (168.04 (172.871.54 (21.99 509.74 390.79 (490.26) 1. BATLIBOI & ASSOCIATES Advanta India Limited Chartered Accountants Vikram R.32 (492.39 977.746.61 (4.42 (0.990.79) (168.00) 19.71 121.25 4.08 1.75) (2. Shroff V.52 (131.052.82) (3.81 105.Net Interest received Dividend received Net Cash from/(used) in Investing Activities (B) CASH FLOW FROM FINANCIAL ACTIVITIES Proceeds from long-term borrowings Repayment of long-term borrowings Proceeds/(payment) from short-term borrowings Proceeds from Issue of equity shares FCCB / Debentures Issue Expenses Right Issue Expenses Interest paid Dividend Paid Tax on distributed Profits Net cash from Financing Activities Net increase in cash and cash equivalents C (C) (A+B+C) Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of Cash and Cash Equivalents Cash on Hand Balance with Scheduled banks -In Current Accounts -In Deposit Accounts Remittance in Transit Unpaid Dividend Account * Cash and bank balance as per Balance Sheet Less: Fixed Deposits not considered as cash equivalents Cash and cash equivalents considered for cash flows * These balances are not available for use by the company as they represent correponding unpaid dividend liabilities As per our Report of even date For and on behalf of the Board of For S.65) (106.51 471.316.62 32.702.83 (69.303.00) (695.00 2.70 447.48 0.55 508.49) (1.82) Previous Year ( in lacs) (2. 2012 52 .

2011 ( in lacs) As at 31st December.21 1.989) Equity Shares of 10/.66 6.418. and/or immovable property of the Company acquired for the project through contribution by the Company and/or by the DBT to a value equivalent to loan amount and interest thereon 1.7 in Schedule T).each Issued.00) 35.537.000.98 SCHEDULE C SECURED LOANS Loans and Advances from Banks: .242.17 in Schedule T) 6.500. consumable stores and spares and such other movables including book-debts.000.00 1. machineries.00 35.000.11 20.47 (15.419.71 3.19 28.Working Capital Demand Loan/Short Term Loan* . machinery spares and other accessories.Cash Credit Facilities* Term Loans from Banks: . finished goods.88 63.21 37.000.000 (Previous Year : 15.42 1.90 1.685.000.00 1. 3b in Schedule T) * The aforesaid loans are secured by pari passu first charge by way of hypothecation of entire stocks of raw materials.00 16. outstanding monies.255.42 1.500.543.685. ** Secured by way of hypothecation of all equipment.59 31.212 (Previous Year : 16. receivables.00 1. work-in-process.20 1.816.000) Preference Shares of 10 /.98 Amalgamation adjustment account Debenture Redemption Reserve Total 717.66 717.SCHEDULE FORMING PART OF THE BALANCE SHEET As at 31 st December.808.00 1.000.93 1.000 (Previous Year : 60.685.838.20 20.77) 34.each 15. 2010 ( in lacs) ( in lacs) SCHEDULE A SHARE CAPITAL Authorised 60. both present and future.816.each fully paid-up Total (For details of Stock options outstanding refer Note No.00 6.500.490.255.66 38. SCHEDULE B RESERVES AND SURPLUS Capital Reserve State Investment Subsidy General Reserve Securities Premium Account Balance as per last Balance Sheet Add : Received during the year on issue of equity shares Less: Adjustment for FCCB / Debenture issue expenses (Refer Note No.566.851.00 1. Subscribed and Paid-up 16.94 53 . apparatus. goods and/or other movable property.97 2.000) Equity Shares of 10 /.685.010.11 35.854.38 Total 3.Interest accrued and due Loan from Department of Biotechnology ** (Refer Note No.11 (695.00 11.

200.500.963. 2011 ( in lacs) As at 31st December.00 1. 17 in Schedule T) Non Convertible Debentures (Refer Note No.52 45.28 Other Loans: From Company [Repayable with in one year : Nil (Previous year Nil)] Commericial Paper [Repayable within one year : 1.00 - Foreign Currency Convertible Bonds (Refer Note No.SCHEDULE FORMING PART OF THE BALANCE SHEET As at 31st December.00 lacs (Previous Year : 2.552.500 lacs (Previous year Nil)] [Maximum amount outstanding at anytime during the year : 1.18 in Schedule T) Bill Discounting [Repayable with in one year : Nil (Previous year Total 977.000.00 59. 2010 ( in lacs) SCHEDULE D UNSECURED LOANS Term Loans: From Bank [Repayable with in one year : Interest accrued and due 1.80 54 .140.00 70.500 lacs)] 6.12 37.500.500.500.62 6.500 lacs (Previous year 1.00)] 3.036.500.00 977.00 53.50 16.52 lacs)] 26.

87 7.04 35.00 1.69 856.424.155.16 2.69 30.296.572.25 129.35 32.92 353.48 5.03 18.00 815. 2010 Description TANGIBLE ASSETS : 129.31 31.74 59.37 10.51 848.535.92 510. 2011 As at 31st December.70 9.33 155.76 58.97 129.85 4.77 25.00 815.45 100.81 lacs) INTANGIBLE ASSETS : Goodwill Technical Knowhow Technology Licence Fees Germ Plasm Software Trade Marks / Brands* Previous Year Capital Work in Progress (Refer Note 1 given below) Total Notes: 1.55 13.319.22 142.22 56.67 29.28 854.33 3.495.52 2.90 87.99 84.176.10 5. 2011 DEPRECIATION /AMORTISATION NET BLOCK As at 31st December.22 16.85 32.047.89 5.49 136.804.84 11.34 132.65 37.607.24 59.095.71 120.25 4.09 21.93 137.69 3.95 6.35 32.71 10.50 477.47 879.26 155. 2011 As at 1st January.65 10.00 304.93 256.85 30.71 790.296.00 246.00 337.07 81.50 1.616.77 51.25 157.07 559.65 127.50 129.00 1.804.92 352. .00 1.56 5.47 7.88 Land-Freehold Building-Freehold Plant and Machinery Furniture and Fixtures Motor Vehicles Lease hold Improvements 55 155.728.23 6.01 110.89 5.94 20.33 880.79 155.63 13.28 680.27 751.51 230.49 136.SCHEDULE FORMING PART OF THE BALANCE SHEET SCHEDULE E FIXED ASSETS ( in lacs) GROSS BLOCK As at 1st Additions January during the 2011 year Deductions/ during the year As at 31st December.59 48.83 82.17 8.68 147.94 3. 2011 Provided for Deductions/ the year Adjustments during the year As at 31st December.65 lacs (Previous Year: * The company is in the process of transferring the same in it’s own name. Capital Work-in-Progress includes Advances for Capital Expenditure 5.40 90.94 157.92 494.095.77 2.10 5.23 5.356.56 1.627.34 14.69 104.603.98 98.757.616.96 1.06 17.61 580.95 261.44 6.25 10.

SCHEDULE FORMING PART OF THE BALANCE SHEET
As at 31st As at 31st December, 2011 December, 2010 ( in lacs) ( in lacs) ( in lacs)

SCHEDULE F INVESTMENTS Long-Term (Unquoted) (At Cost) I. Other than Trade In Government Securities: National Savings Certificate Indira Vikas Patra

0.41 0.11 0.52

0.41 0.11 0.52

II.

Trade In Subsidiary Companies 3,053 (Previous Year: 3,053) Equity shares of Euro 100 each, fully paid-up in Advanta Holdings B.V., Netherlands 5,923 (Previous Year: 5,923 ) Preference shares of Euro 5,000 each, fully paid-up in Advanta Holdings B.V., Netherlands 611,007 (Previous Year: 611,007) Equity shares of 10 each, fully paid-up in Unicorn Seeds Private Limited, India (Refer Note No.13 in Schedule T) 750,000 (Previous Year: 750,000) 1% Redeemable Cumulative Preference shares of 10 each, fully paid-up in Unicorn Seeds Private Limited, India 99,000 (Previous Year: 99,000) Equity shares of $ 1 each, fully paid-up in Pt Advanta Indonesia 49,994 (Previous Year: 49,994) Equity shares of fully paid-up in Advanta Seeds Limited 10 each, 5.00 5.00

16,816.43

16,816.43

19,383.76

19,383.76

4,866.33

4,900.80

100.00

100.00

52.00

52.00

2 (Previous Year: 2) Ordinary Shares of $ 1 each, fully paid-up in Advanta Seed International, Mauritius

0.00 41,223.52

0.00 41,257.99 41,258.51

Total

41,224.04

56

SCHEDULE FORMING PART OF THE BALANCE SHEET
As at 31st As at 31st December, 2011 December, 2010 ( in lacs) ( in lacs) ( in lacs)

SCHEDULE G INVENTORIES (AT LOWER OF COST AND NET REALISABLE VALUE) Packing/ Processing Materials - Work - in - Process - Raw Seeds Finished Goods - Basic Seeds - Hybrid Seeds 180.20 385.51 47.80 331.23 309.31 748.72

1,401.96 3,020.23 4,422.19 Total 5,035.70

1,218.87 2,980.29 4,199.16 5,588.42

SCHEDULE H SUNDRY DEBTORS Unsecured Debts outstanding for a period exceeding six months Considered good Considered doubtful Less: Provision for doubtful debts Other Debts : Considered good (Net of other credit balances 75.11 664.42 739.53 664.42 75.11 2,277.24 715.78 lacs (Previous year Total 683.34 lacs) 2,352.35 1,231.24 75.78 695.93 771.71 695.93 75.78 1,155.46

SCHEDULE I CASH AND BANK BALANCES Cash on Hand Remittance in Transit Balances with scheduled banks: On Current Accounts On Deposit Accounts On Margin Money Deposit ( Under lien with bank) On Unpaid Dividend Accounts 0.50 390.48 0.55 -

893.70 22.74 425.00 0.11 1,341.55

508.86 21.88 445.47 0.39 976.60 977.15

Total

1,732.53

57

SCHEDULE FORMING PART OF THE BALANCE SHEET
As at 31st As at 31st December, 2011 December, 2010 ( in lacs) ( in lacs) ( in lacs)

SCHEDULE J OTHER CURRENT ASSETS Interest Receivable on loans and deposits to others Dividend Receivable from a subsidiary Total 289.71 79.66 369.37 675.74 111.89 787.63

SCHEDULE K LOANS AND ADVANCES (Unsecured, Considered good, unless otherwise stated) Advances and Loans to Subsidiaries (Refer Note No. 9a in Schedule T) Advances Recoverable in cash or in kind or for value to be received - Considered Good - Considered Doubtful Less:Provision for Doubtful advances Deposits - Others Advance Income Tax {Net of Provision (Previous Year 1,965.03 lacs)} 2,140.03 lacs 1,717.58 Total SCHEDULE L CURRENT LIABILITIES & PROVISIONS Liabilities Sundry Creditors Total outstanding dues of creditors other than micro enterprises and small enterprises (Also Refer Note No.6 in Schedule T) Due to Subsidiaries Advances from customers Security Deposits Unpaid Dividend Interest accrued but not due Mark to market on oustanding Derivative Contracts Milestone Payable Other Liabilities (Refer Note No. 3b in Schedule T) 44,473.53 1,823.70 34,333.07 41,914.63 31,160.48

367.57 159.15 526.72 159.15 367.57 473.75

885.24 138.77 1,024.01 138.77 885.24 463.65

1,315.93 57.73 690.05 135.75 0.11 704.49 1,036.70 1,812.48 5,753.24

1,971.31 21.10 654.79 147.55 0.39 650.00 1,586.13 5,031.27

Provisions Provision for Leave Encashment Provision for Gratuity (Refer Note No.10 in Schedule T) Provisions for Fringe Benefit Tax {Net of Advances 148.25 lacs (Previous Year: 148.25 lacs)}

117.11 124.69

117.15 117.87

18.67 260.47

19.09 254.11 5,285.38

Total

6,013.71

58

73 172.31 4.199.19 4.27 217.51 4.93 1.75 2.SCHEDULE FORMING PART OF THE PROFIT AND LOSS ACCOUNT ( in lacs) Current Year ( in lacs) Previous Year ( in lacs) SCHEDULE M OTHER INCOME FROM OPERATIONS Sale of Remnants Price Variance/Adjustments for previous year Provisions written back Gain on Exchange fluctuations (Net) Government Grant (Refer Note No.82 5.807.052.33 229.79 6.75 21.97 2.926.71 144.09 59 .23) 309.508.192.47 35.199.72 384.in .70 309.62 lacs)] 47.962.84 lacs (Previous Year : Miscellaneous Income Total SCHEDULE O COST OF GOODS MANUFACTURED / RAW MATERIAL CONSUMED Inventories at the beginning of the year Add: Produced Less: Inventories at the end of the year Consumption of Raw Seed Purchase of seeds Seeds Processing charges and other charges Land lease charges Chemical and Fertilizer consumed Freight Inwards Total 748.508.112.59 0.382.23 4.16 4.04 243.27 3.61 2.46 441.047.626.47 Total (299. 3b in Schedule T) Commission Income Miscellaneous Income Total SCHEDULE N OTHER INCOME Income from Long-Term Investments: (Trade) Dividend from Subsidiary Companies Interest on Loans and Deposits (Gross) [Tax Deducted at Source : 19.13 1.31 4.56 528.90 869.20 830.05 29.00 748.16 4.06 635.84 178.Process Finished Goods 385.47 SCHEDULE P (INCREASE) / DECREASE IN INVENTORIES Inventories at the end of the year Work .871.61 65.80 2.04 554.Process Finished Goods Inventories at the beginning of the year Work .872.408.100.04 0.72 1.83 144.05 47.59 876.84 6.944.41 2.in .036.33 5.29 137.422.72 1.47 435.601.25 731.75 3.

11 in Schedule T) Lease Rental (Refer Note No.85 250.69 1.46 28.31 116.37 42.617.46 2.26 23.20 7.87 70.842.66 20.46 100.52 31.28 289.358.21 420.86 937.369.028.20 41.26 212.95 79.11 in Schedule T) Rates and Taxes Insurance Packing Material Consumed Freight and Transport Travelling and Conveyance Communication Expenses Printing and Stationery Advertisement and Sales Promotion Production and Farm Expenses Provision for Bad and Doubtful Debts / Advances (Net) Legal and Consultancy Charges (Refer Note No.95 460. Wages and Bonus Contribution to Provident and Other Funds Gratuity Expense (Refer Note No.10 in Schedule T) Workmen and Staff Welfare Expenses Total * (Refer Note No.01 59.30 1.88 1.92 25.18 313.71 2.97 15.78 177.SCHEDULE FORMING PART OF THE PROFIT AND LOSS ACCOUNT ( in lacs) SCHEDULE Q PERSONNEL EXPENSES* Salaries.Net Bank Charges Cash and Advance Booking Discounts Total 70.39 250.49 130.12 274.42 0.666.72 108.378.326.11 940.11 1.48 5.93 166.04 247.79 1.56 14.05 634.19 in Schedule T) SCHEDULE S INTEREST AND OTHER FINANCIAL COSTS Interest on Term Loans Debentures Others Exchange Difference on Borrowings .89 280.685.17 130.08 1.19 1.82 4.33 6.56 104.022.00 2.32 48.63 42.455.19 180.21.70 3.19 in Schedule T) SCHEDULE R OPERATING AND OTHER EXPENSES* Power and Fuel Repairs Buildings Machinery Others Rent (Refer Note No.66 2.86 218.13 60 .73 16.98 67.08 23.2 in Schedule T) Debit Balances written off Loss on sale of Assets (Net) Loss on Exchange fluctuations (Net) Miscellaneous Expenses Total * (Refer Note No.00 46.69 53.11 38.46 Current Year ( in lacs) Previous Year ( in lacs) 955.61 212.91 93.66 4.05 33.77 3.

The financial statements have been prepared under the historical cost convention on an accrual basis except in case of assets for which provision for impairment is made. 1956 whichever is higher. 61 . Although these estimates are based upon management’s best knowledge of current events and actions. or at the rates prescribed under Schedule XIV of the Companies Act. Rate (SLM) 10% 20% 20% 10% Rate as per Schedule XIV (SLM) 6.21% 9.33% 16.SCHEDULE FORMING PART OF THE BALANCE SHEET AND THE PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED DECEMBER 31. Depreciation on other assets is provided using the Straight Line Method as per the useful life of the assets estimated by the management. Borrowing costs relating to acquisition of fixed assets which takes substantial period of time to get ready for its intended use are also included to the extent they relate to the period till such assets are ready to be put to use. (b) Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting year end.000 are fully depreciated in the year of purchase.75% Furniture and Fixtures Computers Vehicles Office Equipments Individual fixed assets costing less than 5. The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year. 2.50% 4. 2011 SCHEDULE T NOTES TO ACCOUNTS 1. (c) Fixed Assets Fixed assets are stated at cost. Nature of operations Advanta India Limited (‘AIL’ or ‘the Company’) is engaged in the business of research. actual results could differ from these estimates. production and sale of field crops and vegetable seeds through distributors to farmers. 1956. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use. 1956. Lease hold improvements are depreciated over the period of lease which is generally ten years. Statement of Significant Accounting Policies (a) Basis of Preparation The financial statements have been prepared to comply in all material respects with the Notified accounting standard by Companies Accounting Standards Rules. (d) Depreciation Depreciation on building and plant and machinery is provided for in the accounts on straight line method in accordance with the rates prescribed in Schedule XIV of the Companies Act. 2006 (as amended) and the relevant provisions of the Companies Act. less accumulated depreciation and impairment losses if any.

Goodwill is tested for impairment at the end of each balance sheet date and any impairment loss arises is recognized in the profit and loss account. Operating lease payments are recognized as an expense in the Profit and Loss account on a straight-line basis over the lease term. capitalized leased assets are depreciated over the shorter of the estimated useful life of the asset or the lease term. If there is no reasonable certainty that the Company will obtain the ownership by the end of the lease term. Lease payments are apportioned between the finance charges and reduction of the lease liability based on the implicit rate of return. In assessing value in use. legal charges and other initial direct costs are capitalised. The recoverable amount is the greater of the asset’s net selling price and value in use. Useful life Technical Knowhow 10 years Technology License Fees 5 years Germ Plasm 10 years Software 10 years Trade Marks / Brands 10 years Goodwill arising on acquisition of business is not amortised. which effectively transfer to the Company substantially all the risks and benefits incidental to ownership of the leased item. are capitalised and amortised on a straight-line basis over their useful lives. Leases where the lessor effectively retains substantially all the risks and benefits of ownership of the leased term are classified as operating leases. (f) Intangible Assets Costs relating to intangible assets. An impairment loss is recognized wherever the carrying amount of an asset exceeds its recoverable amount. Development expenditure is carried forward when its future recoverability can reasonably be regarded as assured and is amortised over the period of expected future benefit. the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and risks specific to the asset. (g) Research and Development Research expenditure is charged to revenue in the year in which it is incurred. Lease management fees. (h) Leases Where the Company is the Lessee Finance leases. are capitalized at the lower of the fair value and present value of the minimum lease payments at the inception of the lease term and disclosed as leased assets.SCHEDULE T NOTES TO ACCOUNTS (Continued) (e) Impairment The carrying amounts of assets are reviewed at each balance sheet date if there is any indication of impairment based on internal/external factors. Finance charges are charged directly against income. which are acquired. 62 .

Current investments are carried at lower of cost and fair value determined on an individual investment basis. Cost is determined on a moving weighted average basis. The sales are net of sales return and expected sales return.SCHEDULE T NOTES TO ACCOUNTS (Continued) (i) Government Grants Grants from the Government are recognized when there is reasonable assurance that the grant will be received and all attaching conditions will be complied with. provision for diminution in value is made to recognise a decline other than temporary in the value of the investments. Work-in-progress Finished Goods Net realizable value is the estimated selling price in the ordinary course of business. Cost is determined on standard cost basis. Packing Materials Lower of cost and net realizable value. which it is intended to compensate. (l) Revenue Recognition Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Government grants received in the nature of Investment Subsidy are treated as Capital Reserve. 63 . (j) Investments Investments that are readily realisable and intended to be held for not more than a year are classified as current investments. Income from Services Revenues from services are recognized as and when the services are rendered. Sale of Goods Revenue is recognized when significant risks and rewards of ownership of the goods have passed to the buyer which generally coincides with dispatch of goods (including sale of remnants) to the customer. When the grant relates to an expense item. However. less estimated costs of completion and estimated costs necessary to make the sale. (k) Inventories Inventories are valued as follows: Raw materials. Interest Revenue is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable. However. Lower of cost and net realizable value Cost includes direct materials and labour and a proportion of manufacturing overheads based on normal operating capacity. All other investments are classified as long-term investments. materials and other items held for use in the production of inventories are not written down below cost if the finished products in which they will be incorporated are expected to be sold at or above cost. it is recognized as income over the periods necessary to match them on a systematic basis to the costs. Long-term investments are carried at cost.

(n) Derivative Instruments As per the ICAI announcement. at which time they are recognized as income or as expenses. 1956. Dividend from subsidiaries is recognized even if same are declared after the balance sheet date but pertains to period on or before the date of balance sheet as per the requirement of Schedule VI of the Companies Act. other than those covered under AS 11. 64 (ii) (iii) (iv) . or on reporting such monetary items of company at rates different from those at which they were initially recorded during the year. are recognized as income or as expenses in the year in which they arise except those arising from investments in non-integral operations. are recognized as income or as expenses in the year in which they arise. by applying to the foreign currency amount the exchange rate between the reporting currency and the foreign currency at the date of the transaction. Gratuity liability is defined benefit obligations and are provided for on the basis of an actuarial valuation on projected unit credit method made at the end of each financial year. Long term compensated absences are provided for based on actuarial valuation. Exchange differences arising on the settlement of monetary items not covered above. Short term compensated absences are provided for on based on estimates. or reported in previous financial statements. are marked to market on a portfolio basis. Non-monetary items which are carried in terms of historical cost denominated in a foreign currency are reported using the exchange rate at the date of the transaction. The Superannuation Fund scheme is funded with an insurance company in the form of a qualifying insurance policy. Net gains are ignored. (o) Retirement and other employee Benefits (i) Retirement benefits in the form of Provident Fund and Superannuation Fund are a defined contribution scheme and the contributions to the scheme are charged to the Profit and Loss Account of the year when the contributions to the respective funds are due. and the net loss is charged to the income statement. Exchange differences arising on a monetary item that. (m) Foreign Exchange Translation/Currency Transaction Initial Recognition Foreign currency transactions are recorded in the reporting currency.SCHEDULE T NOTES TO ACCOUNTS (Continued) Dividends Revenue is recognized when the shareholders’ right to receive payment is established by the balance sheet date. Exchange Differences Exchange differences arising on the settlement of monetary items or on reporting monetary items of company at rates different from those at which they were initially recorded during the year. accounting for derivative contracts. form part of the company’s net investment in a non-integral foreign operation is accumulated in a foreign currency translation reserve in the financial statements until the disposal of the net investment. The actuarial valuation is done as per projected unit credit method Actuarial gains / losses are immediately taken to the profit and loss account and are not deferred. Conversion Foreign currency monetary items are reported using the closing rate. or reported in previous financial statements. in substance.

For the purpose of calculating diluted earnings per share. It recognises unrecognised deferred tax assets to the extent that it has become reasonably certain or virtually certain. it is probable that an outflow of resources will be required to settle the obligation. as the case may be that sufficient future taxable income will be available against which such deferred tax assets can be realised. as the case may be. (t) Borrowing Costs All borrowing costs are expensed in the period they occur. (r) Provisions A provision is recognised when an enterprise has a present obligation as a result of past event. as the case may be.SCHEDULE T NOTES TO ACCOUNTS (Continued) (p) Income taxes Tax expense comprises of current and deferred. Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligation at the balance sheet date. (q) Earnings Per Share Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting preference dividends and attributable taxes) by the weighted average number of equity shares outstanding during the period. At each balance sheet date the Company re-assesses unrecognised deferred tax assets. 65 . In situations where the company has unabsorbed depreciation or carry forward tax losses. (s) Cash and Cash Equivalents Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short-term investments with an original maturity of three months or less. Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the balance sheet date. all deferred tax assets are recognised only if there is virtual certainty supported by convincing evidence that they can be realised against future taxable profits. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds. in respect of which a reliable estimate can be made. The company writes-down the carrying amount of a deferred tax asset to the extent that it is no longer reasonably certain or virtually certain. the net profit or loss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential equity shares. Deferred tax assets are recognised only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. Any such write-down is reversed to the extent that it becomes reasonably certain or virtually certain. The carrying amount of deferred tax assets are reviewed at each balance sheet date. that sufficient future taxable income will be available. Deferred income taxes reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. Current income tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. Contingent Liabilities are not recognized but are disclosed in the Notes. Contingent Assets are neither recognized nor disclosed in the financials statements. that sufficient future taxable income will be available against which deferred tax asset can be realised.

39 lacs made by a party which the Company has disputed and has filed a counter claim against the said party for an amount of 2.SCHEDULE T NOTES TO ACCOUNTS (Continued) (u) Employee Stock Compensation Cost Measurement and disclosure of the employee share-based payment plans is done in accordance with SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines. The Company measures compensation cost relating to employee stock options using the intrinsic value method. viz.008. for setting up of a unit at Toopran Mandal. 3. Government grants / subsidy: a) Capital Reserve represents State Investment subsidy sanctioned by the Government of Andhra Pradesh. small or medium enterprises under “The Micro. Compensation expense is amortized over the vesting period of the option on a straight line basis.35 lacs).47 lacs is considered as liability. The unutilised grant of 58. b) 4. 2011. (v) Segment Reporting Policies Identification of segments: Segments are identified in line with AS 17 “Segment Reporting”. 2006”.39 lacs (Previous Year: 34. as at 31st December. Small and Medium Enterprises Development Act.93 lacs and in the form of Grant for 63.798. 1999 and the Guidance Note on Accounting for Employee Share-based Payments.93 lacs.75 lacs (Previous Year: 1922.09 lacs. research.019. Based on the Company’s business model.739. Includes a claim of 7. Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advance) 54.903.90 lacs). Biotechnology Industry Partnership Program (‘BIPP’ scheme’) in relation to project of “Multi stacking genes to develop engineered rice with enhanced drought and multiple disease and pest tolerance” and “RNAi and other cutting edge technological interventions to develop insect-pest. 66 6. . in connection with the same the Company has received assistance in the form of loan at interest rate of 2%/3% for 63. (Previous Year: 8. Andhra Pradesh under Target 2000 Scheme of the State Government.77 (iii) 5.846.59 lacs). Contingent Liabilities as at the Balance Sheet date: (i) Income tax matters under dispute: Pending with authorities at various levels – (ii) 1. production and distribution of Hybrid seeds have been considered as the only reportable segment and hence no separate financial disclosure is provided in respect of its single business segment. Claims against the Company not acknowledged as debts 8. Guarantee is given by company on behalf of subsidiary companies lacs) 8. Based on the information available with the Company. Ministry of Science and Technology. The Company has entered into an agreements with the Department of Biotechnology. Segment Policies: The Company prepares its segment information in conformity with the accounting policies adopted for preparing and presenting the financial statements of the company as a whole. issued by the Institute of Chartered Accountants of India. there are no suppliers who are registered as micro. Government of India (‘DBT’) for seeking assistance in the form of ‘Grant/loan’ under the DBT scheme.986. taking into consideration the internal organization and management structure as well as the differential risk and returns of the segment.77 lacs. diseases & viruses tolerant tomato hybrids for Indian & International markets” (“the projects”).07 lacs. (Previous Year: 7.

Date of Grant Date of Board Approval Date of Shareholders Approval Number of options granted Method of Settlement (Cash / Equity) Vesting Period Exercise Period Vesting Conditions September 27.170 As at 31st December.SCHEDULE T NOTES TO ACCOUNTS (Continued) 7.779 Equity Spread over 4 years and 6 months 10 years 50% of the options granted is conditional upon the Company meeting annual performance benchmarks based on parameters set by the Remuneration Committee The details of the activity have been summarized below: Particulars As at 31st December. of equity shares) 78. 2010 (No.259 65.439 9. Employees Stock Option Plan (ESOP) The Company instituted an Employees Stock Option Scheme (“ESOPS”) for certain employees as approved by the shareholders on 20th September. no compensation cost has been recognised in the financial statement.432 11. In accordance with the scheme.223 11.838 10. 2006 September 13. During the year 11.839 17.970 2.855 5.812 58.446 54.809 3.284 NIL 9.028 7.876 7. of equity shares) 33. Out of the total options granted. As the intrinsic value (difference between Market price and Exercise price) on the date of the grant was nil. vesting of 50% of the options granted is conditional upon the Company meeting annual performance benchmarks based on parameters set by the Remuneration Committee. The options were granted with a vesting period spread over 4 years and 6 months.259 65.216 20.779 equity shares to employees of the Company and its subsidiaries on one to one basis at an exercise price of 285/. 2006 178.439 options have vested. 2006 September 20.being the market price as per the valuation report from a Chartered Accountant on the date of grant.809 Outstanding at the beginning of the year Exercisable at the beginning of the year Granted during the year Forfeited during the year Exercised during the year Options lapsed during the year Vested during the year Options vested and outstanding during the year Expired during the year Outstanding at the end of the year Exercisable at the end of the year 67 . 2011 (No. 2006.525 NIL 33.351 17. the Company granted options in respect of 178.

411.53) Net Profit/(Loss) as reported Add – Employee stock compensation under intrinsic value method Less – Employee stock compensation under fair value method Proforma Profit/(Loss) Earning per share ( ) Basic .Proforma 8.SCHEDULE T NOTES TO ACCOUNTS (Continued) Stock options granted: The Black Scholes valuation model has been used for computing the weighted average fair value considering the following inputs: Particulars Weighted average share price ( per share) Exercise Price ( Per share) Expected Volatility Life of the options granted (Vesting and exercise period) in years Current Year 285 285 43% Vesting period + 18 months i.418.as reported .40% per annum 7.61) 68 .51) (17. 4 years.66 1. for each Vesting tranche of 25% 1.30 (17.50% per annum Expected Dividends Average risk-free interest rate Since the Company used the intrinsic value method the impact on the reported net profit and earnings per share by applying the fair value method is as under: Particulars Current Year ( in lacs) 1.66 7.Proforma Diluted .e 3 years.37 8.39 (2993.40% per annum 7. for each Vesting tranche of 25% 1. 5 years and 6 years.14) 17.e 3 years.as reported .67) (17. 5 years and 6 years.00 Previous Year ( in lacs) (2976.77) (17. 4 years.34 8.50% per annum Previous Year 285 285 43% Vesting period + 18 months i.42 8.

Advanta Finance B.03) 76.132.60) 168.360.113. Pacific Seeds (Thai) Limited Pacific Seeds Holdings (Thai) Limited Pacific Seeds Pty Ltd Advanta Semillas SAIC 69 Country of Incorporation Netherlands Netherlands Netherlands Netherlands Thailand Thailand Australia Argentina .17) Outside India ( in lacs) 548. Names of related parties where control exist irrespective of whether transactions have occurred or not: Subsidiaries Name of the Company Advanta Holdings B.914.94 lacs (Previous year 29.60 lacs ( Previous year 531.42 (170.568.17) * Includes Investments 36.378.964. The Company is engaged in research.252.19 lacs).65 lacs (Previous year 120.V.03 (8.252. Debtors 4.876. Segment Information a.42 (170.V.V.V.25) * Total ( in lacs) 13.32 (1. The geographical segment have been disclosed based on revenues within India (sales to customers in India) and revenues outside India (sales to customer located outside India.37 * (66.19 lacs (Previous year 36.35 (10.68) 23. Geographical Segment: Secondary segmental information is based on the geographical location of the customers.754.664. 9.00 lacs). which in the context of Accounting Standards 17 issued by the Institute of Chartered Accountants of India is considered the only Business Segment.SCHEDULE T NOTES TO ACCOUNTS (Continued) 8. Advanta Netherlands Holding B. Loans and Advances 40.59 (23.) Information about Secondary Geographical Segments Particulars Revenue Carrying amount of segment assets Additions to fixed assets including capital work in progress India ( in lacs) 12.565.27 lacs) Note: Figures in brackets represents amounts pertaining to the previous year.80 lacs) and Other Current Assets 296.532. b.96 (90. Advanta International B.71) 100. Related Party Disclosures: a. Business Segment: The Company has considered Business segment as the primary segment for disclosure.85) 168. production and distribution of Hybrid seeds.790.

500.00 20.97 940.71 3.95 8.00 441.275. A.00 3.73 53. Mauritius Australia Indonesia USA India India Brazil British Virgin Islands Names of other related parties with whom transactions have taken place during the year: Enterprises having Significant Influence United Phosphorus Limited Jai Research Foundation PT United Phosphorus Indonesia Demuric Holdings Private Limited Key Managerial Personnel Mr.00 21.00 2.00 1.500. Kaundinya – Managing Director c.949.95 12.00 3.191.00 1.943.08 521.500. R .200.719.28 388.64 2.385.000.140.500.300.37 683.09 37.000.00 1. V.00 206.67 37.73 717.34 .51 2.SCHEDULE T NOTES TO ACCOUNTS (Continued) Advanta Seeds International Longreach Plant Breeders Management Pty Limited PT Advanta Seeds Indonesia Advanta US Inc Unicorn Seeds Private Limited Advanta Seeds Limited Advanta Comercio De Sementes LTDA Advanta B V I Limited b.66 21.582. Transactions with related parties during the year and balances at year end: United Phosphorus Limited Particulars Purchase of Goods Sale of Goods Advance Booking Discounts Non Convertible debentures Redemption of Non Convertible debentures Commercial Paper issued Commercial Paper redeemed Commission Income Loan received Loan repaid ABS Advance Reimbursement of expenses made Interest Expense Balance as on the Balance Sheet date: Interest Payable Loan Payable Commercial Paper Non Convertible debentures Current Asset Current Liabilities 70 Current Year ( in lacs) 1.63 Previous Year ( in lacs) 4.13 26.00 2.574.

Argentina Particulars Current Year ( in lacs) 98. Pacific Seeds Pty Ltd.717.17 Current Year ( in lacs) 30.18 3. Advanta Netherlands Holdings BV Particulars Current Year ( in lacs) 825.78 Previous Year ( in lacs) 627.18 2. Australia Particulars Reimbursement of expenses received Reimbursement of expenses made Miscellaneous expenses Purchase of goods Balance as on the Balance Sheet date: Current Asset Current Liabilities Current Year ( in lacs) 0.39 Reimbursement of expenses received Balance as on the Balance Sheet date: Current Asset Current Liabilities C.116.00 71 . Advanta Semillas SAIC.71 79.426.21 135.05 132.79 882.132.63 E.05 70.52 3.03 3.39 140.60 11.66 Previous Year ( in lacs) 69.SCHEDULE T NOTES TO ACCOUNTS (Continued) B.85 Reimbursement of expenses received Balance as on the Balance Sheet date: Current Assets Current Liabilities Contingent liability (Bank Guarantee given (Refer Note 4(iii) to Schedule T) D.03 21.86 23. Pacific Seeds (Thai) Limited Particulars Sales of Goods Purchase of Goods Balance as on the Balance Sheet date: Current Liabilities Contingent liability (Bank Guarantee given (Refer Note 4(iii) to Schedule T) 21.35 Previous Year ( in lacs) 29.49 Previous Year ( in lacs) 0.17 2.52 31.

Jai Research Foundation Particulars Reimbursement of Expenses Lease Rent Balance as on the Balance Sheet date: Current Asset Current Liabilities 85.68 299.75 72 .15 14.51 46.44 85.47 Current Year ( in lacs) Previous Year ( in lacs) H.81 Previous Year ( in lacs) 19.00 64.237.74 355.63 Current Year ( in lacs) 15. Advanta Seeds International Particulars Sales of Goods Reimbursement of expenses received Reimbursement of expenses made Advance Received Balance as on the Balance Sheet date: Current Assets Current Liabilities Dividend receivable 261.85 Previous Year ( in lacs) 505.68 111.38 I.90 58.05 4.25 2.89 Current Year ( in lacs) 451.00 80. Advanta US Inc Particulars Balance as on the Balance Sheet date: Contingent liability (Bank Guarantee given (Refer Note 4(iii) to Schedule T) Current Year ( in lacs) Previous Year ( in lacs) 2.655.54 5.40 193.70 237. Pacific Seeds Holdings (Thai) Limited Particulars Balance as on the Balance Sheet date: Current Liabilities G.37 79.79 5.SCHEDULE T NOTES TO ACCOUNTS (Continued) F.

00 500. Advanta Holdings B V Particulars Interest Income Loan Given Loan Repaid Advance Balance as on the Balance Sheet date: Loan Current Asset 37.71 1.SCHEDULE T NOTES TO ACCOUNTS (Continued) J.410.05 Current Year ( in lacs) 2.31 0.04 28.100.84 0.46 44.75 300.97 82.00 687.93 1.67 73 . Advanta Seeds Limited Particulars Balance as on the Balance Sheet date: Current Liabilities 1.897.89 Previous Year ( in lacs) 2.15 106.71 1.24 248.00 490.13 61.574.00 1.73 8. Unicorn Seeds Private Limited Particulars Sales of Goods Purchases Reimbursement of Expenses received Reimbursement of Expenses made Interest Income Dividend Received Loan Given Loan Received Advance Given Advance Repaid Balance as on the Balance Sheet date: Loan Current Assets Current Liabilities Contingent liability (Bank Guarantee given (Refer Note 4(iii) to Schedule T) K.180.00 L.410.400.06 5.20 28.86 1.16 382.330.20 Previous Year ( in lacs) 167.00 293.13 23.637.750.95 21.593.00 647.279.00 905.12 1.70 8.863.50 1.953.00 1.95 Current Year ( in lacs) Previous Year ( in lacs) Current Year ( in lacs) 197.75 1.180.363.

54 261.441.02 19.43 1.SCHEDULE T NOTES TO ACCOUNTS (Continued) M.39 31.19 Previous Year ( in lacs) 20. Loans and advances include dues from companies under same management: Current Year ( in lacs) Particulars Amount outstanding at the end of the year 39. Demuric Holdings Private Limited Particulars Loan received Interest Expenses Balance as on the Balance Sheet date: Interest Payable Loan Payable P.19 134.11 Previous Year ( in lacs) 121.553. Key Managerial Personnel and their relatives Particulars Remuneration 9 Current Year ( in lacs) 122.200.010.010.441.18 2.00 78.99 134.43 70.05 10.98 140.19 134. PT Advanta Seeds Indonesia Particulars Reimbursement of Expenses received Sale of Goods Balance as on the Balance Sheet date: Current Asset N. PT United Phosphorus Indonesia Particulars Sale of Goods Balance as on the Balance Sheet date: Current Asset O.20 Current Year ( in lacs) 2.00 261.V.29 2.19 1.822.496.74 41.00 Previous Year ( in lacs) Current Year ( in lacs) 1.66 13. Pacific Seeds Pty Ltd Advanta Semillas SAIC Unicorn Seeds Private Limited Advanta Netherlands Holding BV PT Advanta Seeds Indonesia Advanta Seeds International Total .39 (a).22 1.22 Current Year ( in lacs) 39.43 1.48 29.35 24.45 Previous Year ( in lacs) 1.200.48 19.39 - Advanta Holdings B.37 803.70 803.63 74 Previous Year ( in lacs) Maximum Amount Maximum amount of loan outstanding amount of loan outstanding at the end of outstanding during the year the year during the year 39.920.99 132.50 53.98 140.50 2.45 70.160.76 19.74 29.914.

00 7.69 Year Ended Year Ended 31st Dec-10 31st Dec-09 ( in lacs) ( in lacs) 122.81 128.28 23.34 (24.74) 21.18 112.33 31.37 23.77 (36. The scheme is funded with an insurance company in the form of a qualifying insurance policy.76) 8.95 Year Ended Year Ended 31st Dec-10 31st Dec-09 ( in lacs) ( in lacs) 23.34 9.87 112.SCHEDULE T NOTES TO ACCOUNTS (Continued) 10.77 10.18 (3.99 104.00 (16.98 1.39) 1.49) (13.14 42.88 Year Ended 31st Dec-08 ( in lacs) 104.25 10.22 37.25 (12.42 75 .23) 112.42 (13.03 Year Ended 31st Dec-08 ( in lacs) 24.00 (4.28 (1.00 104.43 1.55 Year Ended 31st Dec-08 ( in lacs) 81.82 24.03 Year Ended 31st Dec-11 ( in lacs) 23.99 7.90) (16. (i) Details of Employee Benefits – Gratuity Defined Benefit Plans The Company has a defined benefit gratuity plan.67) 87.01 27.42 10. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service.01 (2.85 27.33) 9. Profit and Loss account Net employee benefit expenses (recognized in Employee Cost) Current service cost Interest cost on benefit obligation Expected return on plan assets Net actuarial loss/(gain) recognized during the Year Net Benefit expense Actual return on plan assets Balance sheet Details of Provision for gratuity Defined Benefit obligation Fair value of plan assets Plan Liability Year Ended 31st Dec-11 ( in lacs) 128.39 Changes in the present value of the defined benefit obligation are as follows: Year Ended Year Ended Year Ended 31st Dec-11 31st Dec-10 31st Dec-09 ( in lacs) ( in lacs) ( in lacs) Opening defined benefit obligation Interest Cost Current service cost Benefits paid Actuarial (gains)/loss on obligation Closing defined benefit obligation 121.37 (0.55 9.49) 124.61) 7.97) 1.99 10.82 (1.21 121.55 (24.39) 91.13) 117.39) 7.

39) (0.00 % 2.33 36. applicable to the period over which the obligation is to be settled.00 % As at 31st Dec’-08 8.00 % As at 31st Dec’-10 8.49 Year Ended 31st Dec-10 ( in lacs) 24.SCHEDULE T NOTES TO ACCOUNTS (Continued) Changes in the fair value of Plan Assets are as follows: Year Ended 31st Dec-11 ( in lacs) Opening fair value of plan assets Expected return Contributions made by employer during the Year Benefits paid Actuarial gains/ (loss) Closing fair value of plan assets 4.75 % 8.00 % 6.00 % LIC (1994-96) LIC (1994-96) LIC (1994-96) LIC (1994-96) Ultimate Ultimate Ultimate Ultimate 76 .78 The major categories of plan assets as a percentage of fair value of total plan assets are as follows: Year Ended 31st Dec-11 ( in lacs) Insurer Managed Funds (LIC) 100% Year Ended 31st Dec-10 ( in lacs) 100% Year Ended 31st Dec-09 ( in lacs) 100% Year Ended 31st Dec-08 ( in lacs) 100% The overall expected rate of return on assets is determined based on the market prices prevailing on that date.60 % 6.13 0.67 Year Ended 31st Dec-08 ( in lacs) 10.39) (0.00 % 8.00 % As at 31st Dec’-09 8.12) 4.13 Year Ended 31st Dec-09 ( in lacs) 13.33) 3.00 % 6. The principal actuarial assumptions at the Balance Sheet date.56 Year Ended 31st Dec-10 ( in lacs) 36.00 (24.12 (36.39 2.61 17.22) 13.76) (0. There has been significant change in the expected rate of return on assets due to the improved stock market scenario.00 % 2. As at 31st Dec’-11 Discount rate Expected rate of return on plan assets Expected rate of salary increase Employee Turnover Mortality table 8.97 2.90) (2.25 % 8.00 % 2.49) 24.00 % 2.67 1.49 24.39 Year Ended 31st Dec-11 ( in lacs) Expected contribution to defined benefit plan for the year 2012 40.00 % 6.41 (16.50 % 8.18 (12.98 1.

00 (B) Diluted Earnings Per Share: Particulars Net Profit Weighted Average Number of Equity Shares outstanding Dilutive impact of employee stock options Weighted Average Number of Equity Shares for computing diluted earnings per share Diluted Earnings per share ( ) Nominal value of equity shares ( ) 77 Current Year ( in lacs) 1.00 .976.288 17.33 (12.34 10.66 16.67) 10.53) Year Ended 31st Dec-10 (0.SCHEDULE T NOTES TO ACCOUNTS (Continued) Experience adjustment for current year for gratuity: Year Ended 31st Dec-11 On plan assets loss / (gain) On plan liabilities gain /(loss) 0.12) 4.760 (17. The lease term is in the range of 3 years to 10 years and thereafter renewable.859 8. The estimates of future salary increases.98 lacs) 12.21 Year Ended 31st Dec-09 (13. seniority.00 (0. 11. considered in actuarial valuation. Leases: Operating Lease Office Premises. There are no subleases.67) 10.00 Previous Year ( in lacs) (2. promotion and other relevant factors such as supply and demand in the employment market.52 lacs) is recognised as an expense and included in Schedule Q – ‘Contribution to Provident and Other Funds’ in the Profit and Loss account.853.66 16.14) 16. The disclosure in respect of status of defined benefits obligation have been given for the current year and the three previous years since the Company have adopted AS 15 (Revised) in the year F2008.760 16.844.00 Previous Year ( in lacs) (2. motorcars are obtained on operating lease. There is no escalation clause in the lease agreement.844.418.853.22) Notes 1.844.859 148. (Previous Year: 462.418. Lease rental expense for the year for the agreements entered into is 258.147 8.92 lacs.09) (2. takes account of Inflation. There are no restrictions imposed by lease arrangements.760 (17.002.976. 2. (A) Earnings Per Share: Basic Earnings Per Share: Particulars Net Profit attributable to equity shareholders Weighted Average Number of Equity Shares outstanding Basic Earnings per share ( ): Nominal value of equity shares ( ) Current Year ( in lacs) 1.63 lacs (Previous Year: 130. (ii) Defined Contribution Plans Amount of 116.49) Year Ended 31st Dec-08 7.42 10.14) 16.

00 As at 31st December 2010 ( in lacs) 0. with corresponding reduction in the carrying value of investment in USPL.SCHEDULE T NOTES TO ACCOUNTS (Continued) Basic and Diluted earnings per share are calculated by dividing the net profit for the Year attributable to equity share holders by the weighted average number of equity shares outstanding during the year. 13.47 lacs.78 lacs (Previous Year: 790.16 1.40 2.82 3.36 5.95 4.95 1. Provision for Milestone Payments The Company had entered into a business purchase agreement (BPA) on January 4.39 3. 2010.48 0.46 1. pursuant to which payment to the extent of 650 lacs has been agreed and made.00 Loan Investments Exports Debtors Advance payable Other Receivables Interest Receivable Interest Payable Dividend Receivable Import Creditors USD USD EURO USD EURO USD USD USD USD EURO USD AUD Thai Bahts b) Particulars of Derivatives contracts entered into for hedging purpose outstanding as at December 31.18 2. During the year the Company has executed agreement for settlement with erstwhile promoters of USPL.60 0.35 lacs) Derivative Instruments and Un-hedged Foreign Currency Exposure: a) Particulars of Unhedged foreign Currency Exposure as at the Balance Sheet date Particulars Currency As at 31st December 2011 ( in lacs) 530.03 As at 31st December 2010 ( in lacs) Nil Currency and Interest rates swaps EURO 78 .95 0. 2011 are as under: Particulars Currency As at 31st December 2011 ( in lacs) 158. Further the company has written back the liability being no longer payable of 34.09 6.99 623.99 623. 14.09 5. the Company had recognized a provision of 1. 2008 with the erstwhile promoters of Unicorn Seeds Private Limited (USPL) for acquisition of their entire shareholding in USPL. 673. Pursuant to the BPA.15 0.69 10.000 lacs for milestone payable on achievement of certain targets upto June 30. Research and Development Expenses: a) Revenue b) Capital 15.50 1.87 lacs) 32.50 1.64 lacs (Previous Year: 105.

800 lacs (out of 25.33 3047. in whole but not in part.84 per share and are listed in Singapore Stock Exchange. Netherlands (“the subsidiary”) with effective from 1st January 2011. Redeemable.94 3.77 Lacs (net of taxes: Nil) has been adjusted against the securities premium account.000 each redeemable at par at the end of five years from the date of allotment viz. Expense related to the issue of FCCB’s are adjusted against the Securities Premium.95 Remaining amortization years 5 years 0.SCHEDULE T NOTES TO ACCOUNTS (Continued) 16. accordingly an amount of 695.50 477. 13th March 2010. or at every interest payment date. the following information relates to Intangible assets.79 Lacs (Previous Year: Nil) from the subsidiary and the same has been adjusted against the respective expenses as under: 246.50 1.91 87. Description of Assets Current Year Carrying amount of assets ( in lacs) Technical Know-how Technology License Fees Germ Plasm Software Trade Marks / Brands 17. 19. 2011.000 each are: a) Convertible by the bondholders into Ordinary Shares or Global Depository Shares (GDSs) at any time on and after 15th July 2011 up to the close of business on 2nd July 2016.07 559.620 Unsecured Redeemable Non Convertible Debentures of 1. The FCCB’s will be convertible at a initial conversion price of 282. In accordance with the Accounting Standard 26 issued by ICAI. Redeemable on maturity date of 9th July 2016 at par. As on 31st December 2011 the outstanding Non Convertible Debentures of 16.200 lacs consisting of 1.45 100. The Company has entered into a cost sharing agreement on 1st December 2011with Advanta Holding BV. 2014.48 Remaining amortization years 4 years 6 years 6 years 6 years Previous Year Carrying amount of assets ( in lacs) 304. if not redeemed or converted earlier.000 lacs Unsecured Redeemable Non Convertible Debentures issued on 13th March 2010) by exercising call options on 1st July. which is on quarterly basis at the option of the Company. Pursuant to that the Company has recovered 825. 18. subject to the fulfillment of certain terms and obtaining requisite approvals. Non Convertible Debentures The Company has redeemed Debenture of 12.627. Foreign Currency Convertible Bonds (FCCBs) Floating Rate Guaranteed Convertible Bonds due 2016 250 Floating Rate Guaranteed Convertible Bonds of USD 200.4 years 7 years 7 years 7 years b) c) 79 .000. at the option of the Company on or at any time after July 9.500 lacs (Unsecured Redeemable Non Convertible Debentures issued on 25th September 2010) and 8.

79 20.SCHEDULE T NOTES TO ACCOUNTS (Continued) Particulars Personnel Expenses Travelling Expenses Rent Legal & Professional Miscellaneous Total Current year ( in lacs) 353.32 0.20 As the liabilities for leave encashment and gratuity are provided on an actuarial basis for the company as a whole.06 121.28 0.50 26.00 0.1 Director’s Remuneration: Particulars Salary Perquisites Contribution to Retirement Benefits Total Current Year ( in lacs) 98.00 0. Supplementary Statutory Information: 21.01 83.25 .79 219.87 105. Prior period (income) / expense (net): Particulars Interest on Loans and Deposits etc.57 1..30 21. the amounts pertaining to the director are excluded in above.57 21.50) 167. 21.57 Previous Year ( in lacs) 21.11 Previous Year ( in lacs) 98.24 825.94 53.06 122.75 73.00 21.88 63.75 2.22 95.56 0. Price Variance Purchase of Chemicals Total Current Year ( in lacs) Previous Year ( in lacs) (115.2 Auditors’ Remuneration (included under Legal and Consultancy Charges): Particulars Audit fees Fee for Certification Taxation Matters Other Total 80 Current Year ( in lacs) 21.75 4.

002.113.31 447.03 346.20 3.71 8.12 (iii) 3.69 3.40 Previous Year MT 108.04 2.760.280.04 2.26 21.3 Licensed and Installed Capacity per annum Particulars Licensed Capacity Installed Capacity * Since agricultural produce Current Year Not Applicable* Not Applicable* Previous Year Not Applicable* Not Applicable* 21.39 81 .6 Consumption of Raw Seeds Particulars Current Year MT Amount ( in lacs) 2.132.218.109.50 (ii) 2.10 7.72 0.41 Raw eedsConsumed S 4.218.942.388.26 2.87 Note: Closing Stock quantities are after adjustment of samples.980.80 1.4 Actual Production Particulars Basic Seeds Hybrid Seeds Current Year MT 121.87 4.97 Previous Year MT Amount ( in lacs) 1.944.598.87 101.401.002.48 2.775.70 3.47 69.35 Previous Year MT Amount ( in lacs) 10.020.397.17 5. 21.21 1.626.03 346.29 1.980.339.85 7.23 1.550.29 1.84 420.96 3.53 (iv) 2.67 7.404.21.511. damaged and obsolete stocks and includes substandard not sold.182.5 Particulars in respect of Stocks Particulars Current Year MT (i) Sales Hybrid Seeds Purchases Hybrid Seeds Basic Seeds Opening Stock Hybrid seeds Basic Seeds Closing Stock Hybrid Seeds Basic Seed Amount ( in lacs) 13.212.

13 1.04 242.31 68. the Company has incurred 48. 1956.574.32 2897.03 2.86 - Up to December 31.51 21.06 553. basis: Particulars Capital Expenditure Purchase of Seeds Current Year ( in lacs) 407.47 Previous Year ( in lacs) 1.41 100 Percentage Previous Year ( in lacs) Percentage 21.944.201. 2011. as permitted under section 78 of the Companies Act.22 104.O.21.7 Consumption of Raw Materials : Particulars Current Year ( in lacs) Raw Seed consumed Indigenous Imported 2.63 64.378.76 3.B.9 Expenditure in Foreign Currency (on accrual basis): Particulars Travel Legal and Professional Charges Interest Reimbursement of expenses Others Expenses Current Year ( in lacs) 26. This amount shall be adjusted against securities premium arising from the proposed rights issue of equity shares. 82 .12 1.20 61.50 21.98 Previous Year ( in lacs) 19.88 0.10 Earnings in Foreign Exchange (on accrual basis): Particulars Value of exports of goods on F.F.623.8 Value of imports on C. this amount has been carried forward and disclosed separately under the head ‘Miscellaneous Expenditure’ in the Balance Sheet. Accordingly.27 58.I.41 lacs (Previous Year: 53.75 368.21 99. value Interest Income Reimbursement of expenses Others 22. Current Year ( in lacs) 548.21 lacs) in connection with the proposed rights issue of its equity shares.02 55.57 Previous Year ( in lacs) 13.

As per our Report of even date For S. R. Kaundinya Managing Director Pushpalatha K Company Secretary 83 .: 41870 Place : Hyderabad Date : February 27.23. 2012 For and on behalf of the Board of Advanta India Limited Vikram R. 2012 V. BATLIBOI & ASSOCIATES Chartered Accountants Firm Registration Number : 101049W per Sudhir Soni Partner Membership Number. R. Shroff Director Manoj Gupta Chief Financial Officer Place : Hyderabad Date : February 27. Previous year’s figures have been regrouped where necessary to confirm to this year’s classification.

0 5 M A I Z E 1 0 . Shroff Director Place : Hyderabad Date : February 27. 2012 V. : Balance Sheet Date II.1 2 .1 1 Bonus issue N I L Thousands) Private Placement* N I L State Code : 0 1 Capital raised during the year (Amount in Thousands) Public issue Rights issue N I L N I L III.- Total Expenditure 1 54 5 0 5 6 Earnings per Share including Earnings per Share excluding Exceptional Income Exceptional Income 8 . Performance of Company (Amount in Turnover 1 3 1 1 3 3 4 Profit/loss after tax 1 4 1 8 6 6 - Thousands) +/+ Prior Period Expenditure N I L +/= Profit/loss before tax 1 5 9 3 6 6 Dividend rate% . 1956 BALANCE SHEET ABSTRACT AND COMPANY’S GENERAL BUSINESS PROFILE I. Registration Details Registration No.Additional information as required under Part IV of Schedule VI to the Companies Act. (ITC CODE) Product Description 1 2 . 4 2 On weighted average Number of Shares V. (ITC CODE) Product Description Item Code No. Generic Names of Principal Products/Services of Company (Not Applicable) Item Code No.0 6 S U N F L O W E R 1 0 . (ITC CODE) Product Description Item Code No.0 6 R I C E S E E D S S E E D S S E E D S For and on behalf of the Board of ADVANTA INDIA LIMITED Vikram R. Position of Mobilisation and Deployment of Funds (Amount in Total Liabilities 9 7 6 0 6 2 3 Sources of Funds Paid up Capital * 1 6 8 5 4 2 Share Application Money N I L Application of Funds Net Fixed Assets 5 6 0 3 4 4 Accumulated Losses 2 7 8 0 5 7 Investments 4 1 2 2 4 0 4 Total Assets 9 7 6 0 6 2 3 Reserves&Surplus 3 8 5 3 7 9 8 Secured Loans 3 4 1 9 7 1 Unsecured Loans 5 3 9 6 3 1 2 Net Current Assets 4 7 9 4 97 7 Misc. 4 2 On weighted average number of Shares 8 . R. : 0 6 3 6 6 4 3 1 .Expenditure 4 8 4 1 IV. Kaundinya Managing Director Manoj Gupta Chief Financial Officer Pushpalatha K Company Secretary 84 .

633 100 (777.07) (1.16) (273.72 (490.000 1.14 (315.29 859.00 1.088. In Lacs) 2011 ( .30) 31.93) 180 100 191.058.469.38 (518.59) 180 100 1.81) 71.31) 91.26 1.31 2 Advanta Netherlands Holdings BV do do do do do do do do do do do do do do do do do do do do do do do do do do do do 3 Advanta International BV 4 Advanta Finance BV 5 Advanta Semillas S A I C 6 Longreach Plant Breeders Management P Ltd 7 Pacific Seeds Pty Ltd 8 Pacific Seeds Holdings (Thai) Ltd 9 Pacific Seeds (Thai) Ltd 10 Advanta Seed International 11 Unicorn Seeds Pvt Ltd 12 Advanta US Inc 13 Advanta Seeds Limited 14 Pt Advanta Seeds Indonesia 15 Advanta Commercio De Sementes LTDA 16 Advanta B.Statement Purusant to Section 212 of the Companies Act.I Ltd .917.000 100 1. In Lacs) Sr No Particulars Name of the subsidiary Company Number of Shares Change in the Holding Companies Interest in the subsidiaries between the end of the financial year of the subsidiary and the end of the holding companies financial year Material changes which have occurred between the end of the aforesaid financial year of the subsidiaries and the end of the holding companies financial year in respect: As the finanical year of both holding and subsidiary companies coincides.29) (50.327. 1956.11) 1.88 (970.000 100 1.000.000 480.42) 17.626.59) 346.053 100 (2.12) (50.486. related to Subsidiary Companies for the year ended 31 December 2011 Financial Year Shareholding The net aggregate of Profit / (Loss) of the subsidiary for the above financial year so far as they concern the members of the Company and is not dealt within the accounts of the Company % Financial Year ended Previous Year on 31st December ( . there are no particulars to furnish 1 Advanta Holdings BV 31/12/2011 3.76 (318.000 100 5.418.758 70 (494.09 180 100 (463.98 (0.47) (635.90) 608.38) (325.25 (177.000 50.V.007 100 2 100 300.54) Not Applicable as as financial year conincides with that of the Holding Company do do 85 31/12/2011 31/12/2011 31/12/2011 31/12/2011 31/12/2011 31/12/2011 31/12/2011 31/12/2011 31/12/2011 31/12/2011 31/12/2011 31/12/2011 31/12/2011 31/12/2011 31/12/2011 100.06) 269.09 0.443 50.000 100 100 100 100 100 611.

68 (2.27 53.88 (318.72 0.917.63) 351.473.28 136.89 (471.15 (609.55 136.11) 1.43) 0.679.35 (709.92) (706.68 1.96 141. Ltd Note: Exchange Rates considered for above calculation Indonesian Rupiah 0.37 (1.73 5.44) 246.96 17.52 437.52) 8. No.463.499.40 0.766.10 (117.78 9 Advanta Semillas S A I C 10 LongReach Plant Breeders Management Pty Ltd 11 Pacific Seeds Pty Ltd 12 Unicorn Seeds Pvt Ltd 13 Advanta Seeds Ltd 14 Pt Advanta Seeds Indonesia 15 Advanta Commercio De Sementes LTDA 16 Advanta B.664.06) 0.40 86.37 20.31) Turnover Profit / Loss Before Taxation Provision for Taxation Exp / (Inc) Profit / Loss After Taxation Proposed Dividend Sr.27) (2.36 3.00 (2.12.00 11.883.48 7.46 27.82 827.86 742.788.842.57 20.33) 1.89) 630.14 (315.93 1.76) (145.24 1.367.01 Brazilian Reas 28.03) (1.11 48.37 (3.18 878.81 (4.058.458.773.815.99) 2.76 (777.08 (588.625.01 0.18 921.75 381.310.150.75 20.332.22 55.25 (320.99 49.59 1.93 1.38) 1.70 64.150.395.22) (407.052.056.37 12.V.76 Advanta Finance BV Netherlands 12.21 24.04 7.26 269.09 (2.29 859.40 16.00 13.90) 2.60 16.57 12.35 9.12) (105.914.088.37 55.766.13 191.327.52 102.Abridged Financial Information of subsidiaries as at 31.83 26.91 (400.76 86.09 (970.225.20 17.2011 (INR in Lacs) Location / Country Capital Reserves Total Assets Total Liabilities Details of Investment (Except in case of Investment in Subsidiaries) 8.05) (138.551.52 11.332.11) 6.39 24.59 53. Subsidiary 1 Netherlands Netherlands Netherlands USA Thailand Thailand Mauritius Argentina Australia Australia India India Indonesia Brazil British Virgin Islands 26.86 2.26 55.72 Particulars Closing Rate (For Balance Sheet Items) Average Rate (For Profit and Loss Items) .040.I.13) 11.967.47 14.654.36 1.75 (382.617.883.14 (420.130.36 37.606.052.36 13.367.93) 921.73 63.33 (3.458.073.69 12.75 - 2 Advanta Holdings BV 3 Advanta International BV 4 Advanta Netherlands Holdings BV 5 Advanta US Inc 6 Pacific Seeds Holdings (Thai) Ltd 7 Pacific Seeds Thai Ltd 8 Advanta Seed International 86 Euro US $ Thai Bhat AU $ 68.741.59 68.589.16) 26.99 20.177.224.29) 1.12 886.699.03 8.310.914.37 46.275.55) 16.541.72 24.48 6.130.86 2.18) 878.17) (273.541.83) (606.916.03 20.07) (463.96) 1.46 2.555.28 2.654.82 37.83 610.

53 lacs as at December 31. has drawn attention in the audit report relating to the Going Concern Assumption i. and Advanta Seeds International. Mauritius whose financial statements prepared. The Auditor of a subsidiary company. whose financial statements prepared under the generally accepted accounting principles accepted in India. An audit includes examining. the financial statements having been prepared on going concern basis. copies of which have been provided to us by the Company. 1. read with Paragraph 3 above. An audit also includes assessing the accounting principles used and significant estimates made by management. 2011.S.13 lacs respectively. has drawn attention in the audit report relating to the Going Concern Assumption. The Auditor of a subsidiary company.S. revenues. and net cash flows of 39.e. 6.130.09 lacs. reflect in relation to the amounts considered in the consolidated financial statements. the consolidated profit and loss account and the consolidated cash flow statement for the year ended on that date annexed thereto (all together referred to as ‘the consolidated financial statements’). Advanta Comercio de Sementes Ltda whose financial statements reflect total assets.056. viz. and the cash inflows amounting to 8.099.A.22 lacs respectively. despite the accumulated losses exceeding the paid up share capital as at December 31. 407. 3. We did not audit the financial statements of subsidiaries. is based solely on the reports of the other auditors under the aforementioned GAAPs in respective countries and the aforesaid conversion undertaken by the management. as at December 31.16 lacs. on a test basis. and cash flows of 878. U.e.73 lacs. 1.52 lacs. and our opinion. 1. These financial statements and other financial information have been audited by other auditors whose reports have been furnished to us. revenues. total assets. viz. to the shareholders of the respective companies. and 80. the total revenue of 81.. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. 24. prepared under generally accepted auditing standards of their respective countries. Our responsibility is to express an opinion on these financial statements based on our audit. revenues.130. i. . thus. the financial 87 2. We have audited the accompanying consolidated balance sheet of Advanta India Limited (‘the Company’) and its subsidiaries (the Advanta Group). We did not audit the financial statements of Advanta U.69 lacs. insofar it relates to amounts included in respect of these subsidiaries. is based solely on the report of other auditors. evidence supporting the amounts and disclosures in the financial statements.80 lacs. as well as evaluating the overall financial statement presentation.202. The management of the Company has converted these audited financial statements of the Company’s subsidiaries to accounting principles generally accepted in India. 4. for the purpose of preparation of the Company’s consolidated financial statements under accounting principles generally accepted in India. loss. under the generally accepted accounting principles (‘GAAP’) accepted in the United States of America (‘US GAAP’) and International Financial Reporting Standards (‘IFRS’) respectively in the aggregate reflect. 2011 on the basis of representations of financial and operational support from the Company. Inc. The financial statements of these subsidiaries have been prepared in accordance with accounting policies generally accepted as per the US GAAP and IFRS and have been audited by other auditors who have submitted their audit opinions.837. loss and cash flows of 6.467.177.97 lacs respectively. 2011. total assets of 131. We believe that our audit provides a reasonable basis for our opinion. Our opinion.47 lacs.Auditor’s Report The Board of Directors Advanta India Limited 1.86 lacs and 345. Longreach Plant Breeders Management Pty Ltd whose financial statements reflect total assets. These financial statements are the responsibility of the Advanta India Limited’s management and have been prepared by the management on the basis of separate financial statements and other financial information regarding components. examined by us on a test basis. insofar as it relates to the amounts included in respect of such subsidiaries.647.04 lacs for the year then ended. We conducted our audit in accordance with the auditing standards generally accepted in India. 5.257.48 lacs. and 1.

There is no virtual certainty as required by Accounting Standard (AS) 22.47 lacs in the profit and loss account. 2011. (b) (c) per Sudhir Soni Partner Membership Number : 41870 Place : Hyderabad Date : February 27.statements having been prepared on going concern basis. PT Advanta Seeds Indonesia whose financial statements reflect total assets. 2010 was also modified in respect of the above matter. 2011 on the basis of representations of financial and operational support from the Company. As a result of above. 2011 on the basis of representations of financial and operational support from the Company. except for the effects of matters stated in paragraphs 8 and 9 above as described therein. Based on our audit and on consideration of reports of other auditors on separate financial statements and on the other financial information of the components.60 lacs) and deferred tax assets and reserves and surplus as at December 31. During the year ended December 31. revenues. 2010. of the state of affairs of the Advanta India Limited Group as at December 31. in the case of the consolidated profit and loss account. and in the case of the consolidated cash flow statement. 2012 88 . 7. give a true and fair view in conformity with the accounting principles generally accepted in India: (a) in the case of the consolidated balance sheet. Consolidated Segment Information has not been given in the consolidated financial statements as required by Accounting Standard (AS) 17.22 lacs and 347.R.26 lacs (Previous Year: higher by 2. negative equity and accumulating significant operating losses as at December 31.79 lacs).10 of Schedule 21.883. and to the best of our information and according to the explanations given to us.99 lacs. 2011 are higher by 4. (Refer Note No.73 lacs respectively. negative equity and accumulating significant operating losses as at December 31.883. 2011 are higher by 1. The said disclosure does not have any impact on the profit for the year and the reserves as at December 31. 783. the Group had.547. of the cash flows for the year ended on that date. 2010 was also modified in respect of the above matter.18 lacs.431. despite the negative working capital. For S. Our audit report on the consolidated financial statements for the year ended December 31. As indicated in Note No. the financial statements having been prepared on going concern basis.47 lacs (Previous Year: higher by 108. and cash flows of 921. 10. 9. we are of the opinion that the attached consolidated financial statements. loss. viz. the consolidated profit after taxation for the year ended December 31. The Auditor of a subsidiary company.547. 420. of the profit for the year ended on that date. 2011. Batliboi & Associates Chartered Accountants Firm Registration Number: 101049W 8. the Group has further recognized deferred tax asset of 1. Our audit report on the consolidated financial statements for the year ended December 31.’Segment Reporting’ for reasons explained in Note No 19 of Schedule 21. 2011.e. recognized deferred tax asset aggregating 2. 10 of Schedule 21). ‘Accounting for Taxes on Income’ to indicate that it is probable that the said companies will have sufficient taxable profit against which such deferred tax assets can be utilized. has drawn attention in the audit report relating to the Going Concern Assumption i.79 lacs on the unused tax losses in the consolidated financial statements for the year ended December 31. despite the negative working capital.

006. 10 in Schedule 21) 4.93 123. BATLIBOI & ASSOCIATES Chartered Accountants Firm Registration Number : 101049W per Sudhir Soni Partner Membership Number.377.35 5.35 22.33 30.46 15.56 60. Fixed Assets 6 a) Gross Block b) Less: Accumulated Depreciation / Amortisation c) Net Block d) Capital Work-in-Progress including capital advances 2.305. 210 ( in lacs) I.328.80 2.04 23.554.299.13 41.01 2.685. R.232.20 53. 2012 21 For and on behalf of the Board of Advanta India Limited Vikram R.239.425.15 71.648. SOURCES OF FUNDS 1.62 27.521.56 2. Loan Funds a) Secured Loans b) Unsecured Loans ( in lacs) ( in lacs) 1 2 1.54 50.27 67.02 5.41 69.235.55 7. 2011 As at 31st December.174.264.926.39 84.69 6.: 41870 Place : Hyderabad Date : February 27. Kaundinya Managing Director Pushpalatha K Company Secretary 89 .18 in Schedule 21) Total Notes to Consolidated Accounts As per our Report of even date For S.CONSOLIDATED BALANCE SHEET AS AT 31ST DECEMBER 2011 Schedule As at 31 st December. R.197.685. Current Assets.421.86 0.936.57 112.032.49 71.17 19. 10 in Schedule 21) 5 1.187.629.49 32.32 1.95 719.274.569. 2012 The Schedules referred to above and notes to accounts form an integral part of the Balance Sheet 49.973.20 Total II.521.582.42 52.39 48. Deferred Tax Assets (Refer Note No.590.95 3.451.580.108.165.58 0.39 16.504.00 35.21 112.14 V.02 74.68 54. Miscellaneous Expenditure Share Issue Expenses (Refer Note No.13 15.924.55 6.611.14 3 4 12.501.60 623.07 60.825. Investments 3.351.99 25.61 72.19 123.566.465.20 6.455. Shroff Director Manoj Gupta Chief Financial Officer Place : Hyderabad Date : February 27.538.554.37 45. Loans and Advances a) Inventories b) Sundry Debtors c) Cash and Bank balances d) Other Current Assets e) Loans and Advances (A) Less : Current Liabilities and Provisions a) Liabilities b) Provisions Net Current Assets (B) (A-B) 13 7 5 91. Shareholders’ Funds a) Capital b) Share Application Money Pending Allotment c) Reserves and Surplus 2.90 54.093.37 1. Deferred Tax Liabilities (Refer Note No.17 8 9 10 11 12 26. Minority Interest 4.629.78 14. APPLICATION OF FUNDS 1.11 5.062.44 1.000.

883.41 (2.24 2.68 5. IV. Shroff Director Manoj Gupta Chief Financial Officer Place : Hyderabad Date : February 27.92 37.95) (238.29) 16.97 92.679.654.02) (2.828.181.357.72) 706.924.654.51 13.21 91.88) (1.21 14.41 (1.229.654.23 10.903.50) (1.161.CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER 2011 Current Year Schedule I.24 (62.73 95.12 4.24) (301. 2012 V.84 8.55 6.21 13.14 3.60 Expenditure Cost of goods manufactured/Raw material consumed16 (Increase) / Decrease in stocks 17 Personnel Expenses 18 Operating and Other expenses 19 Interest and Other Financial Costs 20 Depreciation / Amortisation Profit / (Loss) Before Prior Period.86) 70.29 7.72) (194.427.Excess provision for taxation for earlier years Profit / (Loss) After Taxation Add / (Less): Minority Interest NET PROFIT / (LOSS) Add: Surplus brought forward from Previous Year III.24 19.34) (144. Income Sales Less: VAT Less: Rebates and Discounts Other Income from Operations Other Income II.00 21 (16.84 ( in lacs) ( in lacs) 70.05 254.60 927. R.Deferred Tax .89 1.597.865.05 1.76 72.69 2.79) (195.11 in Schedule 21) Notes to Consolidated Accounts 7.639.779.645.68 2.237. R.399.42 6.00 The Schedules referred to above and the notes to accounts form an integral part of the Profit and Loss Account As per our Report of even date For S. 14 15 Previous Year ( in lacs) 99.30) 10.652.07 65.00 1. Exceptional Items and Taxation Prior Period Adjustments (Refer Note No.66 13.50 13. VI. Profit available for appropriation Appropriations Transfer to Debenture Redemption Reserve Surplus carried to Balance Sheet Consolidated Earnings per share: Basic Diluted Face Value Per Share (in ) (Refer Note No. V. BATLIBOI & ASSOCIATES Chartered Accountants Firm Registration Number : 101049W per Sudhir Soni Partner Membership Number.306.362.214.552.26 1.365.542.19) 2. Kaundinya Managing Director Pushpalatha K Company Secretary 90 .67 337.MAT Credit Entitlement .745.38) (3.04 (45.259.Current Tax .70) 222.535.95 70.07 31.654.464.51 12.55) (658.072.05 1.99 24.317.967.45 4.149.: 41870 Place : Hyderabad Date : February 27.23 in Schedule 21) Profit / (Loss) Before Taxation Provision for Taxation: .229.05 13.30) (16.44 1.211.97 (133.378. 2012 For and on behalf of the Board of Advanta India Limited Vikram R.507.956.25 in Schedule 21) Exceptional Items (Refer Note No.693.11 205.418.

24) 0.865.362.51) (47.024.62 (189.156.34) 2.379.08 (62.43) 732.97 (8.39 (53. 2011 in lacs) ( in lacs) 2.CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2011 ( A CASH FLOW FROM OPERATING ACTIVITIES Profit Before Taxation Adjustments for : Depreciation / Amortisation Bad Debts Debit Balances Written Off Profit on sale of Fixed Assets Assets written off Provision for Doubtful Debts & Advances Provision for Litigation Provisions written back Interest income Miscelleneous Income Interest and Other Financial charges Exchange Difference on loans taken Operating Profit before working capital changes Adjustments for: (Increase) / Decrease in Inventories (Increase) / Decrease in Sundry Debtors (Increase) / Decrease in Other Current Assets (Increase) / Decrease in Loans and Advances Increase / (Decrease) in Current Liabilities Increase / (Decrease) in Provisions Cash generated from Operations (before exceptional and prior period items) Prior Period Adjustments (Other than Taxation) Exceptional Items Direct taxes paid Net cash (used in) / from Operating Activities (A) B CASH FLOW FROM INVESTING ACTIVITIES Purchase of fixed assets and Intangible Assets Sale of fixed assets Redemption of Investments (Deposit) / Maturity of Fixed Deposits Payment of Milestone Liability Interest received Income from Current Investments Net Cash used in Investing Activities For the year ended December 31.03 (30.622.62 180. R.15) (28.95 (952.96 10. 2012 (6.51 (3.426.876.48 557.749.804.751.86 5.20 91.021.421.61 (7.444.47 (6.66) (1. Shroff Director Manoj Gupta Chief Financial Officer Place : Hyderabad Date : February 27.59) 29.373.76 447.73 1.11 1.76 (65.042.85) 640.98) (2.26 (3.555.357.61) 177.742.00 943. As per our Report of even date For S.365.39 3.68 (38.093.767.03 467.46 8.05 (24. BATLIBOI & ASSOCIATES Chartered Accountants Firm Registration Number : 101049W per Sudhir Soni Partner Membership Number.44 390.179.47 0.25 (B) C CASH FLOW FROM FINANCIAL ACTIVITIES Proceeds from borrowings (Net) Repayment of borrowings Proceeds from Issue of equity shares Share Application Money Miscellaneous Expenditure FCCB/ Debenture Issue expenses Interest & finance cost paid Dividend Paid Tax on distributed Profits Net cash (used in) / from Financing Activities (C) Exchange Difference arising on conversion debited to Foreign Currency Translation Reserve) (D) Net increase in cash and cash equivalents (A+B+C+D) Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of Cash and Cash Equivalents Cash on Hand Remittance in Transit Bank Balances In India With Scheduled Banks In Current Accounts In Deposit Account In Unpaid Dividend Account * Bank Balances Outside India On Current Accounts On Deposit Accounts Less: Long term deposits considered in investing activities Cash and Cash equivalents considered for cash flows * These balances are not available for use by the Company as they represent corresponding unpaid dividend liabilities.654.025.156.98 (1.361.80) 5.03 5.69 3.25 19.89 4.88) (1.49 50.50 1.43 (613.38) (865.96 (299.30 15.00 (28.32) (1.04 6.33 2.803.977.00 (1. R.80) 4.776.72 535.22) (1.44 13.74) 3.472.650.106.603.98 703.049.73 12.28 9.08 (144.14) 3.24) (1.565.27) 6.375.05 11.79 13.60 (914.50 41.23 6.95) (238.31) (0.22 5.97 204.50) 157.24 2.02 (695.56 6. 2012 V.17) 3.16 449.655.70) 43.63) 14.669.23 5.48 909.08) (95.32) (98.39 1.060.454.076.91 2.25 14.179.645.26) 8.942.108.263.86 0.21) (168.351.67) 14.05 16.: 41870 Place : Hyderabad Date : February 27.75) 1.305.03 ( For the year ended December 31.828.991.100.63) 6.91) (435.86 878.77) (5.533.28 For and on behalf of the Board of Advanta India Limited Vikram R.971. Kaundinya Managing Director Pushpalatha K Company Secretary 91 . 2010 in lacs) ( in lacs) (1.78) 176.35) 5.179.679.09) (0.75) 398.06) 4.35 (8.291.21) 13.98) (177.

235.SCHEDULE FORMING PART OF THE CONSOLIDATED BALANCE SHEET As at 31st December. ** Secured by way of hypothecation of all equipment.54 717.489.357.66 569.93 63.00 1.54 (70.00 6.242.40 2.00 1.18) 13.51 (3.11 (695.82 1.000.450. 7b in Schedule 21) Total (3.93 12.20 20.11 35.42 1.69) 1.00 132. consumable stores and spares and such other movables including book-debts. and/or immovable property of the Company acquired for the project through contribution by the Company and/or by the DBT to a value equivalent to loan amount and interest thereon 92 .255.11 35.97 ( in lacs) ( in lacs) 6.685.924.685.000 (Previous Year : 15.68 12.00 1.66 20.00 1.21 1. 2010 ( in lacs) SCHEDULE 1 SHARE CAPITAL Authorised 60.60 31.464. work-in-process.77) 34.702.each Issued .500.54 717. apparatus.654.816.501.255.685.000 (Previous Year : 60.000. outstanding monies.68 12.21) 13.907.379.227. Subscribed and Paid-up 16.685.18) 3.235.37 15. 7a in Schedule 21) General Reserve Balance as per last Balance Sheet Securities Premium Account Balance as per last Balance Sheet Add : Received during the year on issue of equity shares Less: Adjustment for FCCB / Debenture issue expenses (Refer Note No. both present and future.42 1.00) 35. machinery spares and other accessories.450. 2011 As at 31st December.816.212 (Previous Year : 16.each fully paid-up Total (For details of Stock options outstanding refer Note No.418. 10 /.10/.60 52.00 1.19 28.566.00 569.16 in Schedule 21) Revaluation Reserve Amalgamation adjustment account Debenture Redemption Reserve Foreign Currency Translation Reserve Balance as per last Balance Sheet Add: Arisen during the year Balance in Profit and Loss Account Total SCHEDULE 3 SECURED LOANS Loans and Advances from Banks On Cash Credit Account and Packing Credit Loan* Term Loans from Banks Working Capital Demand Loan/Short Term Loan* Interest accrued and due Loan from Department of Biotechnology ** (Refer Note No.000.20 1. 10 /.21 (5. finished goods. machineries.99 11.924.000. receivables.66 6.4 in Schedule 21).582. goods and/or other movable property.854.000) Preference Shares of Rs.989) Equity Shares of Rs.90 11.000.47 (15.500.000) Equity Shares of Rs. SCHEDULE 2 RESERVES AND SURPLUS Capital Reserve State Investment Subsidy (Refer Note No.500.000.37 * The aforesaid loans are secured by pari passu first charge by way of hypothecation of entire stocks of raw materials.38 15.21 48.each 15.851.

500 lacs)] Interest accrued and due 1. 2010 ( in lacs) ( in lacs) SCHEDULE 4 UNSECURED LOANS Term Loans From Bank [Repayable with in one year : (Previous year 1.561.27 45.590.62 6.SCHEDULE FORMING PART OF THE CONSOLIDATED BALANCE SHEET As at 31st December.455.39 146.57 1.165.28 - 26.936.52 6.65 2.894.936.52 lacs)] 3.455.00 553.421.62 1.17 6.89 1.421.58 7.16 in Schedule 21) Non Convertible Debentures (Refer Note No.17 Total 7.79 1. 10 in Schedule 21) Others 163.21 1.314.48 1. 2011 As at 31st December.95 255.86 3.552.500.45 377.239.779.17 in Schedule 21) Bill Discounting [Repayable with in one year : Nil (Previous year 977.15 1.757.00 70.52 Total 54.200.00 59.500 Lacs (Previous Year: Nil)] Foreign Currency Convertible Bonds (Refer Note No.00 - 37.500.580.06 1.27 Other Loans From Company Commercial Paper [Maximum amount outstanding during the year 1.07 SCHEDULE 5 DEFERRED TAX Deferred Tax Liabilities On account of depreciation / amortisation Others 1.883.500.500.239.559.39 93 .950.93 Total 1.00 977.57 Deferred Tax Assets On provision for doubtful debtors and advances On expenditure that is allowed on payment basis Carry forward losses (Refer Note No.50 16.500 lacs 6.93 1.

04 627.58 2.99 2.095.59 763.88 452.304.901.91 1.12 7.55 574.45 4.45 51.59 84.153.37 350.80 253.35 724.12 7.17 6.034.78 2.17 14.94 559.35 98.86 48.51 20.85 185.195.47 713.72 170.36 91.78 272.59 664.49 lacs (Previous Year: .342.85 28.51 10.37 94 Goodwill* Technical Knowhow Technology Licence Fees Software Germ Plasm Project Sunsat (Development Cost) Brands / Trade Marks # NGSP Research 48.50 303.49.97 3.94 21.451.65 12.40 83.34 157.58 1.167. 2011 year TANGIBLE : 86.97 103.33 59.76 296.377.91 27.38 19.27 156.095.99 4.37 159.50 538.76 7.611.67 190.513.43 101.49 71.377.96 lacs) # Brands amounting to 6.84 2.33 3. During the Exchange (Adjustments) December 2011 year Adjustment During the.35 1.88 Land-Freehold Land-Leasehold Buildings-Freehold Plant and Machinery Furniture and Fixtures Motor Vehicles Vehicles taken on lease Lease Hold Improvements 2.062.54 1.10 3.99 815.61 72.926.97 256.34 3.30 8.235.26 3.773.03 23.67 823.71 - Total 84.35 967.07 5.934.94 2.98 6.826.41 1.783.91 815.776. 2011 During the Adjustment 2011 year As at 31st December.404.53 3.02 74.046.17 209. the year (Adjustments) Exchange December.61 81.49 4.50 7.739.51 1.121.01 8.22 INTANGIBLE: 1.78 12.75 4.17 19.72 357.42 103.43 304.068.00 88.02 513.63 30.43 381.37 2.63 16.35 1.16 560.45 25.44 1.76 1.56 59.99 13.373.47 49.232.35 5.88 25.830.693.926.705.92 845.85 246.96 58.75 69.466. 12 in Schedule 21 .43 1.66 87.13 5.56 441.468.08 92.814.634.264.18 1.60 114.17 5.43 4.528.89 59. arising on consolidation of such subsidiaries 41.72 1.538.71 271.22 300.92 106.11 87.35 3.SCHEDULE FORMING PART OF THE CONSOLIDATED BALANCE SHEET SCHEDULE 6 FIXED ASSETS ( in lacs) GROSS BLOCK As at 1st Provided for Deductions/ Foreign As at 31st January.19 56.920.826.609.86 3.639.72 70.01 690.65 1.40 866.207.920.305.473.50 25.39 679.95 118.387.07 121.85 Capital Work-in-progress** Total Notes: * Goodwill represents the excess of consideration paid towards acquisition of subsidiaries over the net assets acquired.14 5.32 Previous Year 77.33 337.21 775.661. 2011 DEPRECIATION / AMORTISATION NET BLOCK As at 31st December.032.41 2.71 lacs are still to be transferred in the name of the Company ** Refer note no.91 47. 2010 Description As at Additions Foreign Deductions/ As at 31st 1st January.816.399.18 878. 41.71 1.78 790.373.07 0.03 40.59 477.22 16.569.37 .22 34.27 8.789.04 4.295.48 66.75 2.89 7.369.75 210.25 2.50 0.71 164.39 128.85 12.716.63 21.693.321.09 178.80 1.867.113.63 3.88 100.93 1.46 141.05 14.08 0.33 81.524.024.35 848.

66 859.31 32.006.98 16.30 15.973.00 445.60 * Includes under lien with banks 504.21 17.66 105.93 706.158.73 12.90 1.48 23.07 6.46 0.00 0.164.351.At cost Government Securities National Savings Certificate Indira Vikas Patra Equity shares of Old Irrigation Co-operative Equity shares of East Kimberly Co-operative Less: Provision for dimunition in value of investments Total SCHEDULE 8 INVENTORIES (at lower of cost and net realisable value) Stores and Spares and Consumables Packing Materials Raw Materials Work .460.23 5.54 0.69 901.55 909.96 26.006.81 lacs (Previous Year 95 .78 0.23 6.69 1.049.158.024.44 390.Process Raw Seeds Finished Goods Total SCHEDULE 9 SUNDRY DEBTORS UNSECURED Considered good Considered doubtful Less: Provision for Doubtful Debts Total SCHEDULE 10 CASH AND BANK BALANCES Cash on hand Remittance in Transit Bank Balances in India With Scheduled Banks On Current Accounts On Deposit Accounts On Margin Money Deposit ( Under lien with bank) On Unpaid Dividend Accounts Bank Balances Outside India On Current Accounts On Deposit Accounts * Total 446.86 878.89 4.88 lacs) 9.45 763.03 22.106. Long-Term .32 1.48 19.02 4.357.55 0.249.904.55 0.38 14.328.00 943.95 557.093.16 1.44 0.299.108.270.86 425.32 1.472.21 16.973.55 0.04 3.44 13.270.04 591.185.180.39 1.41 0.76 22.39 0.44 0.33 0.244.in .46 16.47 0.70 25.SCHEDULE FORMING PART OF THE CONSOLIDATED BALANCE SHEET As at 31st As at 31st December. 2011 December.70 23.11 0.11 0.97 9.86 0.11 1.718. 2010 ( in lacs) ( in lacs) ( in lacs) SCHEDULE 7 INVESTMENTS Unquoted Other than trade A.46 1.

783.37 1.395.46 650.70 169.156.174.674.00 5.81 539.37 22. unless otherwise stated) Advances Advances Recoverable in cash or in kind or for value to be received Considered good Considered doubtful Less: Provision for doubtful advances Deposits with Government.92 90.69 5.75 5. Considered good. 15(ii) in Schedule 21) For Litigations (refer note no.017.55 0. 15 in Schedule 21) Dividend Distribution Tax Total 2.80 13.94 0.99 1.99 16.43 2.741.64 157.15 2.77 719.20 8.68 60. 22 in Schedule 21) For Milestone Payments (refer note no. Public Bodies.33 1. Payment of Taxes less Provisions for taxation MAT Credit Entitlement Total 2.48 0.33 1. 24 in Schedule 21) Insurance claim receivable Others Total 548.70 1.85 159.90 0.57 109.43 2.11 623.351.554.156.648. 15(i) in Schedule 21) Other Liabilities Total Provisions For Employee Benefits (refer note no.582.01 103.12 2.195.97 27.063.969.39 159.11 SCHEDULE 12 LOANS AND ADVANCES (Unsecured.960.53 72.44 103.566.465.887.81 144.259. 2011 December.15 2.12 2.40 911. 2010 ( in lacs) ( in lacs) ( in lacs) SCHEDULE 11 OTHER CURRENT ASSETS Assets held for resale (Refer Note No.15 2.SCHEDULE FORMING PART OF THE CONSOLIDATED BALANCE SHEET As at 31st As at 31st December.33 4.11 723.02 623.01 1. Others etc.425.01 96 .56 SCHEDULE 13 CURRENT LIABILITIES AND PROVISIONS Liabilities Sundry Creditors Advances from customers Security Deposits Unpaid Dividend Interest accrued but not due on loans Milestone Payable (refer note no.131.395.70 159.446.25 1.

237.178.05 684.12 31.779.73 98.80 11.814.95 47.76 5.50 1.01 189.31 4.01 337.27 254.17 12.220.95 SCHEDULE 16 COST OF GOODS MANUFACTURED/RAW MATERIAL CONSUMED Raw material / seed consumed Purchase of seeds Seeds Processing charges and other charges Land lease charges for seed production Chemical and fertilizer consumed Freight Inwards Total 13.922.24 69.93 1.85 1.17 4.68 294.78 594.395.38 37.39 299.68 9.69 4.54 1.11 97 . Income from current investments (gross) Exchange difference (net) Miscellaneous Income Total 177.568.43 449.67 SCHEDULE 15 OTHER INCOME Interest on loans and deposits etc.32 65.956.SCHEDULE FORMING PART OF THE CONSOLIDATED PROFIT AND LOSS ACCOUNT ( in lacs) Current Year ( in lacs) Previous Year ( in lacs) SCHEDULE 14 OTHER INCOME FROM OPERATIONS Business Development Fees Sale of Remnants and Other Scrap Royalty Received Commission on Sales Provisions written back Profit on sale of fixed assets (net) Exchange difference (net) Miscellaneous Income Total 422.64 11.709.98 1.100.903.025.788.75 918.316.03 9.514.91 1.98 28.602.35 3.51 29.97 215.51 4.389.26 2.312.

418.93 386.37 353.SCHEDULE FORMING PART OF THE CONSOLIDATED PROFIT AND LOSS ACCOUNT ( in lacs) SCHEDULE 17 (INCREASE) / DECREASE IN STOCK Inventories at the beginning of the year Work-in-process Finished goods Inventories at the end of the year Work-in-process Finished goods Current Year ( in lacs) Previous Year ( in lacs) 4.51 1.69 416.60 591.62 180.63 327.78 23.22 1.95 377.32 2.533.901.02 2.51 SCHEDULE 18 PERSONNEL EXPENSES Salaries.97 41.59 1.84 0.946.52 309.53 15.23 145.42 125.206.51 4.42 398.00 91.497.135.713.50 344.925.51 19.87 808.45 700.96 1.36 336.68 125.09 5.172.96 495.68 1.72 3.647.55 12.62 1.31 1.92 196.75 587.909.59 117.68 1. wages and bonus Contribution to provident and other funds (Refer note 22(ii) in Schedule 21) Gratuity Expense (Refer note 22(i) in Schedule 21) Workmen and staff welfare expenses Total SCHEDULE 19 OPERATING AND OTHER EXPENSES Stores and spares consumed Power and fuel Repairs .84 357.86 20.834.14 98.49 489.62 125.704.34 17.Buildings .82 18.479.32 1.807.86 1.28 105.887.933.341.68 204.497.60 2.26 12.008.23 609.14 16.989.909.99 11.24 98 .59 403.713.71 2. freight and transport Travelling and conveyance Communication expenses Printing and stationery Advertisement and sales promotion Royalty Production and farm expenses Bad debts written off (net) Debit balances written off Provision for doubtful debts and advances Provision for stock damages Inventory written off Provision for litigation Legal and consultancy charges Asset written off Miscellaneous expenses Total 1.73 1.84 24.20 4.833.597.865.51 3.41 443.92 462.85 124.56 17.82 410.00 205.166.264.656.01 511.072.Others Rent (Refer note 13 in Schedule 21) Rates and taxes Insurance Commission Packing.390.63 726.061.17 20.65 1.542.317.Machinery .43 434.59 13.744.

72 333.555.96 174.07 6.71 1.53 8.49 437.99 535.24 Current Year ( in lacs) Previous Year ( in lacs) 99 .259.043.SCHEDULE FORMING PART OF THE CONSOLIDATED PROFIT AND LOSS ACCOUNT ( in lacs) SCHEDULE 20 INTEREST AND OTHER FINANCIAL CHARGES Interest on Loans and others Bank charges Exchange difference (net) Cash and Advance Booking Discounts Total 6.46 403.69 5.828.603.

Advanta International B. has an interest of more than one half of voting power or otherwise has power to exercise control over the composition of the Board of Directors. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Notes: i) The ownership interest as given above has been calculated based on the effective interest of Advanta India Limited in the various subsidiaries including the investments made by its subsidiaries. (a) PRINCIPLES OF CONSOLIDATION The Consolidated Financial Statements include accounts of Advanta India Limited (‘the Holding Company’) and its subsidiaries.V. Advanta (B.V.I) Ltd Relationship Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Country of Incorporation Netherlands Netherlands Netherlands Netherlands Thailand Thailand Australia Argentina Mauritius Australia USA India India Indonesia Brazil British Virgin Islands % of holding directly or through subsidiaries 2011 2010 100% 100% 100% 100% 100% 100% 100% 100% 100% 70% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 70% 100% 100% 100% 100% 100% - (b) ii) iii) 100 .V. Pacific Seeds (Thai) Limited Pacific Seeds Holdings (Thai) Limited Pacific Seeds Pty Ltd Advanta Semillas SAIC Advanta Seeds International Longreach Plant Breeders Management Pty Ltd. Advanta Finance B. production. Advanta India Limited and its subsidiaries are hereinafter collectively referred to as ‘the Group’. Subsidiaries are those companies in which Advanta India Limited. distribution and marketing of hybrid agricultural field crop seeds and plant seeds for agricultural use. 2. Advanta US Inc Unicorn Seeds Private Limited Advanta Seeds Limited PT Advanta Seeds Indonesia Advanta Comercio De Sementes LTDA. directly or indirectly. No. Certain other subsidiaries are predominantly holding companies with investments in the companies engaged in development of hybrid seeds. DESCRIPTION OF BUSINESS Advanta India Limited (‘the Holding Company’) and some of its subsidiaries are principally engaged in research.V. development. respectively as at December 31. 2011 Name of the Company Advanta Holdings B.V.SCHEDULE FORMING PART OF THE CONSOLIDATED BALANCE SHEET AND THE CONSOLIDATED PROFIT AND LOSS ACCOUNT SCHEDULE 21 NOTES TO CONSOLIDATED ACCOUNTS 1.V. The subsidiaries of the Holding Company considered in the consolidated financial information are as given below: Sr. as at December 31. 2011. and 10% held by Advanta Netherlands Holdings B. Subsidiaries are consolidated from the date on which effective control is transferred to the Group to the date such control exists. Advanta Netherlands Holding B. Pacific Seeds (Thai) Limited and Pacific Seeds Pty Limited are wholly owned subsidiaries of Pacific Seeds Holdings (Thailand) Limited and Advanta Finance B.V.V. Advanta Semillas SAIC is 90% held by Advanta International B.

2011. The Consolidated Financial Statements have been prepared on the following basis: i) All the subsidiaries of the Holding Company are incorporated outside India except Unicorn Seeds Private Limited and Advanta Seeds Limited. Advanta Holdings B. 2011. balances and unrealized surpluses and deficits on transactions between group companies are eliminated.. as at December 2011. Advanta Comerica De Sementes LTDA. in the same manner as the Holding Company’s separate financial statements. 2011.V.V.V.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS iv) 70% Holding of Longreach Plant Breeders Management Pty Limited is held by Pacific Seeds Pty Ltd as at December 31. 1956. Wholly owned subsidiary of Advanta Holdings B. As far as possible. 2011. as at December 31. of such subsidiaries have been translated at the closing rates of exchange of the respective currencies as at December 31.V. The financial statements of the subsidiaries used for the purpose of consolidation are drawn upto the same reporting date as that of the Holding Company i. PT Advanta Seeds Indonesia is 99% held by Advanta India Limited and 1% held by Advanta Seed International Mauritius as at December 2011. Unicorn Seeds Private Limited and Advanta Seeds Limited are wholly owned subsidiaries of Advanta India Limited as at December 31. Australia. to comply with the mandatory accounting standards issued by the Institute of Chartered Accountants of India and the relevant provisions of the Companies Act. and Advanta B. v) vi) vii) viii) ix) (c) The Consolidated Financial Statements have been prepared in accordance with historical cost convention except for revaluation of land by a subsidiary company Pacific Seeds Pty Limited. Advanta Netherlands Holdings B.e. and Accounting Standard 21 . to the extent possible. the consolidated financial statements have been prepared using uniform accounting policies for like transactions and other events in similar circumstances and are presented.I Ltd are wholly owned subsidiaries of Advanta Holdings B. the assets and liabilities. (d) ii) iii) iv) 3. December 31.“Consolidated Financial Statements” issued by the Institute of Chartered Accountants of India and the relevant provisions of the Companies Act.V. Advanta Finance B. 101 . The activities of the subsidiaries are not an integral part of those of the Holding Company and hence.V. Advanta International BV and Pacific Seeds Holdings (Thailand) Limited are wholly owned subsidiaries of Advanta Netherlands Holdings B. both monetary and non-monetary. 2011. All inter company transactions. as at December 31. Australia.. Consequently.. these have been considered to be Non-Integral foreign operations in terms of Accounting Standard 11 – ‘The Effects of Changes in Foreign Exchange Rates’. 2011. Advanta Seed International. Advanta US Inc. 1956.V. (a) SIGNIFICANT ACCOUNTING POLICIES Accounting Assumptions The Consolidated Financial Statements have been prepared on accrual basis as a going concern on historical cost convention except for revaluation of land by a subsidiary company Pacific Seeds Pty Limited.

Others In case of subsidiaries engaged in development of hybrid seeds. which it is intended to compensate. revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. 102 . Royalty Revenue is recognised on an accrual basis in accordance with the terms of the relevant agreement. (c) Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting year end. revenue earned (net of returns) is recognized when the significant risks and rewards of ownership of the goods have passed to the buyer. The sales are net of sales returns and expected sales returns.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS (b) Revenue Recognition Revenue is recognized to the extent that it is probable that the economic benefits will flow to the group and the revenue can be reliably measured. Interest The Group recognizes revenue on a time proportion basis taking into account the amount outstanding and the rate applicable. Income from Services The Group recognizes revenue from services as and when the services are rendered. Although these estimates are based upon management’s best knowledge of current events and actions. In case of companies engaged in investing activities. When the grant relates to an expense item. actual results could differ from these estimates. Sale of Goods The Group recognizes revenue when significant risks and rewards of ownership of the goods have passed to the buyer which generally coincides with dispatch of goods to the customer. (d) Government Grants Grants from the government are recognized when there is reasonable assurance that the grant will be received and all attaching conditions will be complied with. it is recognized as income over the periods necessary to match them on a systematic basis to the costs. Government grants received in the nature of Investment Subsidy are treated as Capital Reserve. Dividends The Group recognizes revenue when the shareholders’ right to receive payment is established by the balance sheet date.

Borrowing costs relating to acquisition of fixed assets which takes substantial period of time to get ready for its intended use are also included to the extent they relate to the period till such assets are ready to be put to use. (f) Impairment The carrying amounts of assets are reviewed at each balance sheet date if there is any indication of impairment based on internal/external factors. the estimated future cash flows are discounted to their present value at the weighted average cost of capital.An impairment loss is recognized wherever the carrying amount of an asset exceeds its recoverable amount. 1956.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS (e) Fixed Assets Fixed assets are stated at cost (or revalued amounts as the case may be).75% 5.000 are fully depreciated in the year of purchase. less accumulated depreciation and impairment losses if any.21% 9. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use. 103 .Depreciation on other assets is provided using straight line method as per useful life of the assets estimated by the Management or at the rates prescribed under Schedule XIV of the Indian Companies Act. are capitalized and amortized on a straight-line basis over their useful lives not exceeding ten years. The impairment loss recognised in the prior years is reversed where the recoverable value exceeds the carrying value of the asset upon re-assessment in the subsequent years. which are acquired.The recoverable amount is the greater of the asset’s net selling price and value in use. (h) Depreciation and amortization Depreciation Holding Company Depreciation on building and plant and machinery is provided for in the accounts on straight line method in accordance with the rates prescribed in Schedule XIV of the Indian Companies Act.50% 4. the impairment loss (being the excess of carrying value over the recoverable value of the asset) is charged to the profit and loss account in the respective financial year.In assessing value in use. (g) Intangible Assets Costs relating to all the intangible assets. 1956 whichever is higher. On such indication. Rate (SLM) Furniture and Fixtures Computers Vehicles Office Equipments Individual fixed assets costing less than 10% 20% 20% 10% Rate as per Schedule XIV (SLM) 6. Improvements to Lease hold property are depreciated over the period of lease.33% 16.

Finance charges are charged directly against income. which are acquired. (j) Leases Where the Company is the Lessee Finance leases. are capitalized at the lower of the fair value and present value of the minimum lease payments at the inception of the lease term and disclosed as leased assets. These rates are given below: The estimated useful lives of these assets are as under: Asset Class Buildings Plant and machinery Office Equipment Furniture and Fixtures Motor Vehicles Computer Unicorn Seeds Private Limited Depreciation is provided on written down value method and the rates computed in accordance with Sec. which effectively transfer to the Company substantially all the risks and benefits incidental to ownership of the leased item. the goodwill is written down to its fair value. (i) Goodwill Goodwill represents excess of the cost to the parent of its investment in a subsidiary over the parent’s portion of equity of the subsidiary. depreciation is provided on the Straight Line Method as per the useful lives of the assets as determined by the management. legal charges and other initial direct costs are capitalised. If impairment is indicated. Lease payments are apportioned between the finance charges and reduction of the lease liability based on the implicit rate of return. 1956 and in accordance with Schedule XIV of the Indian Companies Act. Asset Class Technical Know-how Technology License Fees Germ Plasm Software Project Sunsat Trade Marks / Brands Estimated useful lives in years 10 5 to 10 10 10 10 10 Estimated useful lives in years 4 to 50 4 to 13 3 to 5 5 to 10 4 to 5 3 to 7 Goodwill arising on acquisition of business is not amortized. 1956 Amortization Costs relating to intangible assets. Lease management fees. at the date on which investment in the subsidiary is made. are capitalized and amortized on a straight-line basis over their useful lives. 205(2) (b) of the Indian Companies Act.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS Foreign Subsidiary In case of subsidiaries. 104 . The goodwill is reviewed for impairment whenever events or changes in business circumstances indicate the carrying amount of assets may not be fully recoverable.

by applying to the foreign currency amount the exchange rate between the reporting currency and the foreign currency at the date of the transaction... components. All other investments are classified as long-term investments. Cost is determined by weighted average method.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS If there is no reasonable certainty that the Company will obtain the ownership by the end of the lease item. (ii) (iii) (iv) (m) Foreign Currency Transactions Initial Recognition Foreign currency transactions are recorded in the reporting currency. These standards are reviewed regularly and adjusted for significant variances. Raw Materials – Lower of cost and net realizable value. Non-monetary items which are carried in terms of historical cost denominated in a foreign currency are reported using the exchange rate at the date of the transaction. capitalized leased assets are depreciated over the shorter of the estimated useful life of the asset or the lease term. packing materials are valued on a standard cost basis. Operating lease payments are recognized as an expense in the Profit and Loss account on a straight-line basis over the lease term. Conversion Foreign currency monetary items are reported using the closing rate. the cost comprises of materials. raw materials. In case of Pacific Seeds Pty Ltd. stores and spares are valued on a standard cost basis. the cost is determined on standard cost basis in the Holding Company and in respect of other subsidiaries the cost is determined on absorption costing basis Traded goods are valued at lower of cost or net realisable value. In case of finished goods. Consumables and Packing material – Lower of cost and net realizable value. Long-term investments are carried at cost. 105 . Work-in-progress and Finished Goods – Lower of cost and net realisable value. These standards are reviewed regularly and adjusted for significant variances. direct labour and production overheads of the related crops. and non-monetary items which are carried at fair value or other similar valuation denominated in a foreign currency are reported using the exchange rates that existed when the values were determined. Advanta Seeds Ltd and Unicorn Seeds Private Limited cost is determined on First in First out on specific identification basis. Leases where the lessor effectively retains substantially all the risks and benefits of ownership of the leased term are classified as operating leases. Work-in-progress comprises of cost of material and applicable overheads. In case of finished goods. In case of Pacific Seeds Pty Ltd. provision for diminution in value is made to recognise a decline other than temporary in the value of the investments. Cost is determined on a weighted average basis. (l) Inventories The method of valuation of various categories of inventories is as follows: (i) Store and Spares. However. Current investments are carried at lower of cost and fair value determined on an individual investment basis. In case of Advanta US INC. (k) Investments Investments that are readily realisable and intended to be held for not more than a year are classified as current investments.

(o) Retirement and other employee Benefits (i) Retirement benefits in the form of Provident Fund and Superannuation Fund are a defined contribution scheme and the contributions to the scheme are charged to the Profit and Loss Account of the year when the contributions to the respective funds are due. Development expenditure is carried forward when its future recoverability can reasonably be regarded as assured and is amortised over the period of expected future benefit. Exchange differences arising on a monetary item that. When there is a change in the classification of a foreign operation. of the non-integral foreign operation are translated at the closing rate. the assets and liabilities. in substance. Short term compensated absences are provided for on based on estimates. Translation of Non-integral foreign operation In translating the financial statements of a non-integral foreign operation for incorporation in financial statements. both monetary and non-monetary. (n) Research and Development Research expenditure is charged to revenue in the year in which it is incurred. 2006 are capitalized as a part of fixed asset. Any expenditure carried forward will be amortised over the period of expected future sales from the related project. the translation procedures applicable to the revised classification are applied from the date of the change in the classification. form part of the company’s net investment in a non-integral foreign operation is accumulated in a foreign currency translation reserve in the financial statements until the disposal of the net investment. income and expense items of the non-integral foreign operation are translated at exchange rates at the dates of the transactions. or reported in previous financial statements. The actuarial valuation is done as per projected unit credit method Actuarial gains / losses are immediately taken to the profit and loss account and are not deferred. Long term compensated absences are provided for based on actuarial valuation. the cumulative amount of the exchange differences which have been deferred and which relate to that operation are recognised as income or as expenses in the same period in which the gain or loss on disposal is recognised.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS Exchange Differences Exchange differences arising on the settlement of monetary items or on reporting monetary items of company at rates different from those at which they were initially recorded during the year. The Holding Company has a defined benefit gratuity plan. The Gratuity liability is provided for on the basis of an actuarial valuation on projected unit credit method made at the end of each financial year. and all resulting exchange differences are accumulated in a foreign currency translation reserve until the disposal of the net investment. Exchange differences arising in respect of fixed assets acquired from outside India before accounting period commencing on or after December 7. On the disposal of a non-integral foreign operation. The Superannuation Fund scheme is funded with an insurance company in the form of a qualifying insurance policy. at which time they are recognized as income or as expenses. (ii) (iii) (iv) 106 . are recognized as income or as expenses in the year in which they arise except those arising from investments in non-integral operations.

Net Gains are ignored. The carrying amount of deferred tax assets are reviewed at each balance sheet date. as the case may be that sufficient future taxable income will be available against which such deferred tax assets can be realised. (q) Derivative Instruments Certain subsidiaries use derivative financial instruments such as forward exchange contracts to hedge their risks associated with foreign currency fluctuations. Deferred tax assets are recognised only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. issued by the Institute of Chartered Accountants of India. the said asset is created by way of a credit to the profit and loss account and shown as MAT Credit Entitlement. that sufficient future taxable income will be available Deferred tax asset and deferred tax liabilities across various countries of operations are not set off against each other as the Company does not have legal right to do so. (r) Taxes on Income Tax expense comprises of current. At each balance sheet date the Company re-assesses unrecognised deferred tax assets. Compensation expense is amortized over the vesting period of the option on a straight line basis. The premium on discount arising at the inception of forward exchange contracts is amortised as income or expense over the life of the contract. It recognises unrecognised deferred tax assets to the extent that it has become reasonably certain or virtually certain. all deferred tax assets are recognised only if there is virtual certainty supported by convincing evidence that they can be realised against future taxable profits. that sufficient future taxable income will be available against which deferred tax asset can be realised. 107 . Deferred income taxes reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. Exchange differences on such contracts are recognised in the statement of profit and loss in the year in which the exchange rates change. In situations where the company has unabsorbed depreciation or carry forward tax losses. The company writes-down the carrying amount of a deferred tax asset to the extent that it is no longer reasonably certain or virtually certain. MAT credit is recognised as an asset only when and to the extent there is convincing evidence that the company will pay normal income tax during the specified period. as the case may be. The Company reviews the same at each balance sheet date and writes down the carrying amount of MAT Credit Entitlement to the extent there is no longer convincing evidence to the effect that Company will pay normal Income Tax during the specified period. 1999 and the Guidance Note on Accounting for Employee Share-based Payments. Any profit/loss arising on cancellation or renewal of forward exchange contract is recognised as income or as expense for the year. as the case may be. Any such write-down is reversed to the extent that it becomes reasonably certain or virtually certain. The Company measures compensation cost relating to employee stock options using the intrinsic value method. The derivative contracts not covered under AS-11 are marked to market on portfolio basis and net loss after considering the offsetting effect on the underlying hedge item is charged to the income statement. Current Income tax and Fringe benefit tax is determined based on the amount of tax payable in respect of taxable income for the year as per the laws of the respective countries.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS (p) Employee Stock Compensation Cost Measurement and disclosure of the employee share-based payment plans is done in accordance with SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines. Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the balance sheet date. deferred and fringe benefit tax. In the year in which the Minimum Alternative tax (MAT) credit becomes eligible to be recognized as an asset in accordance with the recommendations contained in Guidance Note issued by the Institute of Chartered Accountants of India.

Out of the total options granted. During the year 11.439 options have vested. 2006 178. 2006 September 13. Date of Grant Date of Board Approval Date of Shareholders Approval Number of options granted Method of Settlement (Cash / Equity) Vesting Period Exercise Period Vesting Conditions September 27. the Company granted options in respect of 178. Contingent Assets are neither recognised nor disclosed in the financials statements. (t) Cash and Cash Equivalents Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short-term investments with an original maturity of three months or less.779 equity shares to employees of the Company and its subsidiaries on one to one basis at an exercise price of Rs. 2006 September 20.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS (s) Provisions A provision is recognised when an enterprise has a present obligation as a result of past event. The options were granted with a vesting period spread over 4 years and 6 months. 4. (u) Earnings Per Share Basic earnings per share are calculated by dividing the net profit or loss for the year attributable to equity shareholders (after deducting preference dividends and attributable taxes) by the weighted average number of equity shares outstanding during the year. In accordance with the scheme. vesting of 50% of the options granted is conditional upon the Company meeting annual performance benchmarks based on parameters set by the Remuneration Committee. As the intrinsic value (difference between Market price and Exercise price) on the date of the grant was nil. in respect of which a reliable estimate can be made. the net profit or loss for the year attributable to equity shareholders and the weighted average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares. it is probable that an outflow of resources will be required to settle the obligation. Contingent Liabilities are not recognized but are disclosed in the Notes.being the market price as per the valuation report from a Chartered Accountant on the date of grant.779 Equity Spread over 4 years and 6 months 10 years 50% of the options granted is conditional upon the Company meeting annual performance benchmarks based on parameters set by the Remuneration Committee The details of the activity have been summarized below: 108 . Employees Stock Option Plan (ESOP) The Company instituted an Employees Stock Option Scheme (“ESOPS”) for certain employees as approved by the shareholders on September 20. Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligation at the balance sheet date.285/. For the purpose of calculating diluted earnings per share. no compensation cost has been recognised in the financial statement. 2006.

40% per annum 7.809 3.812 58. 4 years.525 NIL 33.2011 (No.855 5.50% per annum Expected Dividends Average risk-free interest rate 109 .216 20.170 As at 31st December. 4 years. of equity shares) Outstanding at the beginning of the year (A1) Exercisable at the beginning of the year (A2) Granted during the year (B) Forfeited during the year (C) Exercised during the year(D) Options lapsed during the year (E) Vested during the year (F) Options vested and outstanding during the year (G) Expired during the year (H) Outstanding at the end of the year (I)=A1-C-E-F Exercisable at the end of the year (J) =A2.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS As at 31st December.2010 (No.970 2. of equity shares) 78. for each Vesting tranche of 25% 1.e. 5 years and 6 years.809 Stock options granted: The Black Scholes valuation model has been used for computing the weighted average fair value considering the following inputs: Current Year Weighted average share price ( per share) Exercise Price ( Per share) Expected Volatility Life of the options granted (Vesting and exercise period) in years 285 285 43% Vesting period + 18 months i. 5 years and 6 years. 3 years.351 17.e.40% per annum 7.028 7.446 54.432 11.259 65.824 NIL 9.439 9.876 7.223 11. for each Vesting tranche of 25% 1.D+F-H 33.838 10.50% per annum Previous Year 285 285 43% Vesting period + 18 months i. 3 years.839 17.259 65.

05 7.229.01 lacs (Previous Year: In respect of items above.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS Since the Company used the intrinsic value method the impact on the reported net profit and earnings per share by applying the fair value method is as under: Current Year ( in lacs) Net Profit/(Loss) as reported Add – Employee stock compensation under intrinsic value method Less – Employee stock compensation under fair value method Proforma Profit/(Loss) Earnings per share ( ) Basic .739.39 (2762.09 lacs (Previous Year: 8. Contingent Liabilities i) Income tax matters of the Holding Company under dispute: a) Pending with authorities at various levels .903.77 lacs (Previous Year: iv) In case of Pacific Seeds Pty Ltd.29 7.96 lacs) 26. Australia.75 lacs (Previous Year: 1.23 7.39 Previous Year ( in lacs) (2.66 1.745.07 lacs (Previous Year: 2..221. the aggregate maximum amount payable to growers providing expected seed quality .77 Lacs) 8.as reported .39 lacs (Previous Year: 7.39 lacs) made by a party which the Holding Company has disputed and has filed a counter claim against the said party for an amount of 2.30) (16.53 lacs (Previous Year: 2.846.82 v) Claims against the Unicorn Seeds Private Limited not acknowledged as debts 14.903.922.008.986.739.68) Includes a claim of 7.40) 7.29) 17.30) (16.35 lacs) and ii) Claims against the Holding Company not acknowledged as debts lacs) 8.59 7.798.07 lacs) iii) Guarantee given by the Holding Company on behalf of Subsidiaries Company 7.28 Lacs) 170.Proforma Diluted .as reported .703.18 (16.019.25 (16.21 lacs) Income tax matters of the Unicorn Seeds Private Limited pending with authorities at various levels – lacs (Previous Year: 80.1.Proforma 5. future cash outflows in respect of contingent liabilities are determinable only on receipt of judgments/decisions pending at various forums/authorities 110 .40) 1.514.5.

The Company has entered into an agreements with the Department of Biotechnology.173. In case of Advanta US Inc and Unicorn Seeds Private Limited cost is determined on a First-in-First out or specific identification basis. b) 8. stores and spares and packing materials of 8.831. stores and spares and packing materials in case of Pacific Seeds Pty Ltd.63 lacs). The unutilized grant of 58.42 lacs (Previous Year: 11.422.87 lacs (Previous Year: 842.57 21.31 lacs) have been determined on First-in-First out or specific identification basis. As at December 31. The cost of finished goods in the case of the Holding Company is determined on a standard cost basis.75 2.93 lacs and in the form of Grant for 63. The cost of finished goods in case of other subsidiary companies of the group is determined on weighted average basis. In case of Advanta US Inc. connection with the same the Company has received assistance in the form of loan at interest rate of 2%/3% for 63. These standards are reviewed regularly and adjusted for significant variances.06 121.47 lacs is considered as liability. Advanta Seed International and Unicorn Seeds Private Limited cost is determined on a First-in-First out or specific identification basis.32 lacs) cost of inventories amounting to 4.199. The cost of raw materials. viz.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS 6.02 lacs (Previous Year: 116. of the total value of raw materials. The cost of raw materials.19 lacs (Previous Year: 4. 2011. Biotechnology Industry Partnership Program (‘BIPP’ scheme’) in relation to project of “Multi stacking genes on to develop engineered rice with enhanced drought and multiple disease and pest tolerance” and “RNAi and other cutting edge technologies interventions to develop insect-pests.20 111 .93 lacs.80 lacs) have been determined on standard cost and 4.99 lacs) 7.524. The management considers it impracticable to use a uniform accounting policy for the valuation and to quantify the impact of the difference between such accounting policies.11 Previous Year ( in lacs) 98.976.718. These standards are reviewed regularly and adjusted for significant variances. and of the total value of finished goods of 14.30 21.96 lacs (Previous Year: 16.16 lacs) have been determined on standard cost basis 9..67 lacs (Previous Year: 8. is determined on a standard cost basis.57 1. Ministry of Science and Technology. Andhra Pradesh under Target 2000 Scheme of the State Government.400. Government of India (‘DBT’) for seeking assistance in the form of ‘Grant/loan’ under the DBT scheme. Government grants / subsidy: a) Capital Reserve represents State Investment subsidy sanctioned by the Government of Andhra Pradesh. cost of inventories amounting to 1. components.904. Capital Commitments Estimated amount of contracts remaining to be executed on capital account not provided for (net of advances) – 134.06 122. components. components. diseases & viruses tolerant tomato hybrids for Indian & International markets” (“the projects”). stores and spares and packing materials in case of other subsidiary companies of the group is determined on weighted average basis. Australia. Remuneration to Managing Director of the Holding Company : Particulars Salary Perquisites Contribution to Retirement Benefits Total Current Year ( in lacs) 98. for setting up of a unit at Toopran Mandal.

in case of Pacific Seeds Pty Ltd. the said Subsidiary Company has recognised deferred tax assets on the unused tax losses totaling AUD $ 77.V.337 thousand ( 105.942. ( 1. since the management is of the opinion that the said unused losses can be utilised.83 lacs) in the profit and loss account for the year ended on December 31. During the year. since the management is of the opinion that the said unused losses can be utilised.44 lacs) (Previous Year: 14. 2011.63 lacs) (Previous Year: 457. the said Subsidiary Company has recognised deferred tax assets on the unused tax losses totaling IDR 2.45 lacs) as on December 31.055 thousand ( 133.886 thousand ( 553.32 thousand ( 181. 2011 in the balance sheet and Euro 104. 2011 in the balance sheet and THB 24.285.82 Lacs) (Previous Year NIL) in the profit and loss account for the year ended on December 31. since the management is of the opinion that the said unused losses can be utilised. 10. 2011 in the balance sheet and R$ 499.39 thousand ( 133.24 lacs) in the profit and loss account for the year ended on December 31.99 thousand ( 38.40 lacs) in the profit and loss account for the year ended on December 31.67 lacs) (Previous Year: 17.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS As the liabilities for leave encashment and gratuity are provided on an actuarial basis for the company as a whole.52 Lacs) in the profit and loss account for the year ended on December 31. the said Subsidiary Company has recognised deferred tax assets on the unused tax losses totaling R$ 639.34 thousand ( 1. 2011.746. since the management is of the opinion that the said unused losses can be utilized. since the management is of the opinion that the said unused losses can be utilised..65 lacs) (Previous Year: Nil) as on December 31.37 lacs) (Previous Year: 848.148. the said Subsidiary Company has recognised deferred tax assets on the unused tax losses totaling USD 272.97 lacs) (Previous Year: 37. 2011. 2011. since the management is of the opinion that the said unused losses can be utilized.78 lacs) as on December 31.25 thousand ( 67 Lacs) (Previous Year 117. Recognition of Deferred Tax Assets (a) In case of Pacific Seeds Holdings (Thailand) Limited.235. in case of PT Advanta Seeds Indonesia. 2011.03 lacs) as on December 31. During the year.28 Lacs) (Previous Year NIL) in the profit and loss account for the year ended on December 31.46 thousand.671. the said Subsidiary Company has recognised deferred tax assets on the unused tax losses totaling AUD 3. During the year. the amounts pertaining to the director are excluded in above.28 lacs) (Previous Year: 937. During the year. 2011 in the balance sheet and AUD $ 77. 2011 in the balance sheet and AUD 947. in case of Advanta Comercio De Sementes Ltd. 2011 in the balance sheet and IDR 1. 2011. (b) (c) (d) (e) (f) (g) 112 .39 thousand. The Netherlands. ( 144.05 lacs) (Previous Year: 16.55 lacs) in the profit and loss account for the year ended on December 31.36 thousand ( 471. ( 42. since the management is of the opinion that the said unused losses can be utilised. During the year.44 thousand ( 138. the said Subsidiary Company has recognised deferred tax assets on the unused tax losses totaling THB 32. in case of Advanta Semillas Argentina. During the year in case of Long reach Plant Breeders Management Pty Limited. 2011. in case of Advanta Holdings B.11 lacs) (Previous Year: NIL lacs) as on December 31.81 lacs) as on December 31.072 thousand ( 381.82 lacs) (Previous Year: 256.73 lacs) as on December 31.99 thousand. the said Subsidiary Company has recognized deferred tax assets on the unused tax losses totaling Euro 1. 2011 in the balance sheet and USD 272.82 lacs) (Previous Year: 1042.

760 (16. The Company is confident to complete the development work and commercialize the project. 12.844. • Office building and Warehouse at Pacific Seeds Thai Limited.933. 13. There is no escalation clause in the lease agreement. • Vehicles. The minimum lease rents payable from the date of the Balance Sheet date in respect of certain subsidiaries on operating and finance leases are as follows: 113 . • Warehouse premises at PT Advanta Seeds.30) 10. Consolidated Earnings Per Share (A) Basic Earnings Per Share: Particulars Net Profit / (Loss) Weighted Average Number of Equity Shares outstanding Basic Earnings per share ( ) Nominal value of equity shares ( ) (B) Diluted Earnings Per Share: Particulars Net Profit / (Loss) Weighted Average Number of Equity Shares outstanding Dilutive impact of employee stock options Weighted Average Number of Equity Shares for computing diluted earning per share Diluted Earnings per share ( ) Nominal value of equity shares ( ) Current Year ( in lacs) 1.00 Previous Year ( in lacs) (2.30) 10.002. There are no restrictions imposed by lease arrangements. Capital work-in-progress includes Project wheat .development expenditure amounting to 1.760 16. There are no subleases.844.29) 16. Longreach Plant Breeders Management Pty Ltd.853.00 Current Year ( in lacs) 1.229. The lease term is in the range of 1 year to 30 years and thereafter renewable. as the project is still under development.96 lacs (Previous Year: 2. • Office Premises at Advanta India Limited. Product Development Expenditure a.745.859 148.745.05 16.844.23 10.390.147 7.05 16.29) 16.741 lacs by the subsidiary company.00 Basic and Diluted earnings per share are calculated by dividing the net profit for the Year attributable to equity share holders by the weighted average number of equity shares outstanding during the year. computers and fields at Advanta Semillas. Leases Operating Leases: The following assets were taken on operating lease by the Company • Office Building (Global office) at Pacific Seeds Pty Limited. Indonesia.229.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS 11. Argentina.29 10. Lease rental expense for the year for the agreements entered into is 1.859 7.760 (16.00 Previous Year ( in lacs) (2.288 17.82 lacs).853.

67 2.54 AUD 32. 2011 ( in lacs) As at December 31.47 USD 24.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS Particulars As at December 31.85 14.91 USD 60. 2010 ( in lacs) (a) Obligations in case of operating leases: Not later than one year Later than one year and not later than five years More than five years 1.25 37.220.80 1.96 1.03 As at 31st December 2010 ( in lacs) Nil Currency and Interest rates swaps EURO 114 .93 As at 31st December.54 Buy Sell Hedge of expected future purchase Hedge of expected future sales Particulars of Derivatives contracts entered into for hedging purpose outstanding as at December 31.857.04 AUD 3.68 3.832.71 0.88 645. Derivative instruments and un-hedged foreign currency exposure a) Forward contracts outstanding as at the Balance Sheet date Nature of contract Purpose As at 31st December.710.00 AUD 10.497. 2011 Amount in lacs USD 1. 2010 Amount in lacs AUD 0.54 2. 2011 are as under: Particulars Currency As at 31st December 2011 ( in lacs) 158.68 (b) Obligations in case of finance leases: Not later than one year Later than one year and not later than five years More than five year Total lease payments as at the end of the year Less: Amount representing finance charges Present Value of minimum lease payments Lease payments for the year - 1.

83 AUD 0. 2011 (Amount in lacs) USD 9.23 Euro 9.50 USD 0.00 EURO 34.09 Expenses Payable Sundry Debtors EURO 10.67 Euro 17.94 3.087.84) 126.42 AUD 0.10 EURO 10.95 Sundry Creditors Opening Balance Additions during the year Amounts used during the year Reversal during the year Exchange difference on translation Unused amounts reversed during the year Closing Balance * Provision for Milestone Payments 115 .25 EURO 136.48 As at 31st December.41 USD 3.92 As at 31st December.30) (650.96 (2.94 Milestone Provision * As at 31st December.18 USD 2.39 THB 3.99 EURO 623.92 90.53 (497.52 (1. 2011 ( in lacs) 72.50 USD 0.09) 72.21 USD 542.15 Other Receivable Dividend receivable Investments USD 10.31 911.21 USD 8.31 USD 5.07 41.71 EURO 1.42 USD 5. Provisions Litigations Particulars As at 31st December. 2010 (Amount in lacs) USD 4.14 EURO 136. 2011 ( in lacs) 911.53 As at 31st December. 2010 ( in lacs) 33.82 THB 3.36 EURO 0.00 Interest Payable Loans Payable EURO 41.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS b) Particulars of un-hedged foreign currency exposure Purpose As at 31st December.62 13.95 USD 1.99 EURO 623.00) 92.95 15.23 539.73 AUD 0.55 AUD 0. 2010 ( in lacs) 2556.

Accordingly. in whole but not in part. pursuant to which payment to the extent of 650 lacs has been agreed and made. 2016 at par.77 Lacs (net of taxes: Nil) has been adjusted against the securities premium account. Pacific seeds Pty Ltd on acquisition of Longreach plant Breeders Management Pty Ltd.000 lacs for milestone payable on achievement of certain targets upto June 30. Expense related to the issue of FCCB’s are adjusted against the Securities Premium.000 each are: a) Convertible by the bondholders into Ordinary Shares or Global Depository Shares (GDSs) at any time on and after July 15. As on date liability towards milestone is 539. March 13. Pursuant to the BPA. as permitted under section 78 of the Companies Act.800 lacs (out of 25.000.620 Unsecured Redeemable Non Convertible Debentures of 1. 2010) by exercising call options on July 01. Non Convertible Debentures The Company has redeemed Debenture of 12. 2010. This amount shall be adjusted against securities premium arising from the proposed rights issue of equity shares. 2011. 2011 the outstanding Non Convertible Debentures of 16. which is on quarterly basis at the option of the Company. 19. 116 . this amount has been carried forward and disclosed separately under the head ‘Miscellaneous Expenditure’ in the Balance Sheet. the Company had recognized a provision of 1. or at every interest payment date. Redeemable. Share Issue Expenses Up to December 31. 2010. at the option of the Company on or at any time after July 9.84 per share and are listed in Singapore Stock Exchange.200 lacs consisting of 1. As on December 31. 2008 with the erstwhile promoters of Unicorn Seeds Private Limited (USPL) for acquisition of their entire shareholding in USPL. The FCCB’s will be convertible at a initial conversion price of 282. 2014. 2011. During the year the Company has executed agreement for settlement with erstwhile promoters of USPL. Redeemable on maturity date of July 9. 2016. the Company has incurred 49.19 lacs in connection with the proposed rights issue of its equity shares.000 lacs Unsecured Redeemable Non Convertible Debentures issued on March 13. 18. had recognised AUD 5 Million which is to be paid to Syngenta in five equal installments of AUD 1 mn each in the financial years 2008 to 2012. Segment Information Segment information has not been given as the management is of the view that the said information would be prejudicial to the interest of the group. b) c) d) 17.92 lacs (AUD 1 mn) to be paid in the financial years 2011 to 2012 in equal installments. accordingly an amount of 695.500 lacs (Unsecured Redeemable Non Convertible Debentures issued on 25th September 2010) and 8. if not redeemed or converted earlier. Foreign Currency Convertible Bonds (FCCBs) Rate Guaranteed Convertible Bonds due 2016 250 Floating Rate Guaranteed Convertible Bonds of USD 200. 2011 up to the close of business on July 02. ii) 16. subject to the fulfillment of certain terms and obtaining requisite approvals. 1956.000 each redeemable at par at the end of five years from the date of allotment viz.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS i) The Company had entered into a business purchase agreement (BPA) on January 4.

R.30 6. Enterprises over which the group or key management personnel and their relatives have significant influence: Sr.2011 John Bloomer (Director) Resigned on 31.623. (UPH) Nippon UPL KK (Nippon) Reposo SAIC (Reposo) Icona SAIC (Icona) Uniphos Enterprises Limited (UEL) Jai Research Foundation (JRF) PT United Phosphorus .f. Key Management Personnel and their relatives V. No 1 2 3 4 5 6 7 8 9 10 11 Name of the Company United Phosphorus Limited (UPL) Bio-win Corporation Limited (BWC). 2010 ( in lacs) 121. Research and Development Particulars As at 31st December. Indonesia (UPI) United Phosphorus Mexico SA De CV B.2011 Barry Crocker (Director) Vikram Shroff (Director) Manoj Gupta (Director) w.05. 30.12. Mauritius United Phosphorus Limited Gibraltar (UPLG) United Phosphorus Holdings BV. Kaundinya (Managing Director – Advanta India Limited) Chris Bazley – Resigned on 05.2011 117 .035.e.05.46 7.90 As at 31st December. Related Party Transactions I. Nature of relationship A.20 Capital expenditure Revenue expenditure 21. 2011 ( in lacs) 184.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS 20.

SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS Stephen Lonie (Director) Resigned on 31.12.2011 Steven Fatseas (Director) Paul Clark Luxton (Director) David John Neville (Director) Pacholk Pongpanich (Managing Director – Pacific Seeds Thai Limited) Yongyut Pansung (Director) Transactions during the year Particulars Current Year ( in lacs) Previous Year ( in lacs)

1

Sales PT United Phosphorus UPL Purchase of Services Icona PT United Phosphorus Limited Miscellaneous expenses capitalised United Phosphorus Limited (Gibraltar) Purchase of Goods United Phosporus Limited PT United Phosphorus Limited Royalty Income United Phosphorus Limited (Gibraltar) Interest Expense Bio-win Corporation Ltd United Phosphorus Holdings BV. Demuric Holding Ltd UPL Commission on sale United Phosphorus Limited Business Development fees United Phosphorus Limited (Gibraltar) Other Reimbursement UPL - Expenses made UPL Mexcio SA de CV - Expenses made JRF - Expenses made

379.12 12,955.54

(92.34) 9,468.13

2

440.37 -

69.98

3

-

1,331.62

4

5.54 373.43

9.44 69.98

5

-

660.30

6

19.94 78.35 2,949.28

45.87 164.01 294.36

7

441.71

2.81

8

-

684.75

9

26.51 108.22 15.81

100.09 19.54

118

SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS 10 Advance Booking Discounts UPL Rent Expenses JRF Remuneration paid Relative of Key Management Personnel Key Management Personnel ABS Advance UPL 13 Loan Paid UPL United Phosphorus Limited (Gibraltar) Bio-win Corporation Ltd UPH Loan Taken UPL Demuric Holding Ltd Bio-win Corporation Ltd Balance payable by the Company Loans payable Demuric Holdings Ltd UPL Commercial Paper UPL Non Convertible Debentures UPL Current Liabilities Bio-win Corporation Ltd United Phosphorus Limited (Gibraltar) UPL UPL NCD UPL Interest Payable Demuric Holdings UPL Commercial Paper UPI JRF Balance receivable by the Company PT United Phosphorus United Phosphorus Limited (Gibraltar) United Phosphorus Limited JRF 119

53.66

521.09

11

-

5.38

12

260.77

108.15 500.53

206.13

-

2,200.00 1528.76 23,265.23 -

21,574.64 4,584.35 15,922.39

14

3,140.00 2,200.00 22,790.46 -

20,385.00 -

15

2,200.00 940.00

-

16

1,500.00

-

17

21,300.00

-

18

29.64 780.72 388.97 24.29 1,500.00 453.79 80.44

5.09 1,331.62 749.32 37,500.00 11.50 64.63

19

525.87 2,860.18 85.00

201.94 1,331.62 1,756.22 85.00

SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS 22 Details of Employee Benefits – Gratuity i) Defined Benefit Plans

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service. The scheme is funded with an insurance company in the form of a qualifying insurance policy. Profit and Loss account Net employee benefit expenses (recognized in Employee Cost) Current service cost Interest cost on benefit obligation Expected return on plan assets Net actuarial loss/(gain) recognised during the Year Net Benefit expense Actual return on plan assets Current Year ( in lacs) 58.54 33.25 (1.53) 8.37 98.63 Previous Year ( in lacs) 50.51 31.24 (3.10) 66.60 145.25 -

Balance Sheet Details of Provision for gratuity Defined Benefit obligation Fair value of plan assets Plan Liability As at 31st December, 2011 745.96 (20.01) 725.94 As at 31st December, 2010 680.94 (19.17) 661.77

Changes in the present value of the defined benefit obligation are as follows: As at 31st December, 2011 Opening defined benefit obligation Interest Cost Current service cost Liability transfer in Exchange difference on translation Benefits paid Actuarial (gains)/loss on obligation Closing defined benefit obligation 690.48 33.25 58.53 (3.14) (41.36) 8.19 745.96 As at 31st December, 2010 548.10 31.25 50.51 21.98 (37.72) 66.82 680.94

120

68 3. 2010 38.00% to 6.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS Changes in the fair value of Plan Assets are as follows: As at 31st December.75 % 8.00% to 8. 2011 Discount rate Expected rate of return on plan assets Expected rate of salary increase Employee Turnover 3.18) 20.09 5.00% to 6.17 Expected contribution to defined benefit plan for the year 2012 40.53 36.49 (28.00 % As at 31st December. 2010 100% The overall expected rate of return on assets is determined based on the market prices prevailing on that date. The principal actuarial assumptions at the Balance Sheet date As at 31st December.31) 0. 2010 4.17 1.75% to 8.00 % 121 . 2011 Opening fair value of plan assets Expected return Contributions made by employer during the Year Assets transfer in Benefits paid Actuarial gains/ (loss) Closing fair value of plan assets 19.75% to 8. 2011 Insurer Managed Funds (LIC) 100% As at 31st December.60 % 0.76) (0.25 (36. There has been significant change in the expected rate of return on assets due to the improved stock market scenario. applicable to the period over which the obligation is to be settled.00 % 2.01 As at 31st December.00 % 4.56 36.00 % 2.22 19.25 % 8.78 The major categories of plan assets as a percentage of fair value of total plan assets are as follows: As at 31st December.

88) 745.17) 661.94 (19.49 million (INR 238. The net book value of these assets have been presented as held for resale as of December 31.46 0.10 (38.28) 312.95) Previous year ( in lacs) 48.84 2008 343.77 19. Prior Period Adjustments: Particulars Reversal of Tax Provision Price Variance Purchase of Chemicals Management Fees Total 26.19 (192. Exceptional Item: Relocation Expenses : Advanta US Inc: During the current year the Company consolidated the Sorghum operations at Hereford TX and incurred a cost of US $ 0.68) 509.: 41870 Place : Hyderabad Date : February 27. R. Kaundinya Managing Director Pushpalatha K Company Secretary As per our Report of even date For S.94) (144.01) 725.41 50. 2012 V. For and on behalf of the Board of Advanta India Limited Vikram R.14 lacs (Previous Year: 609.42 10.54 (6. R. 25.24 lacs).96 (20.SCHEDULE 21 (Continued) NOTES TO CONSOLIDATED ACCOUNTS Amounts for the current and previous four periods are as follows: 2011 Defined benefit obligation Plan Assets Surplus / (Deficit) Experience adjustments on plan liabilities Experience adjustments on plan assets ii) Defined Contribution Plans Amount of 726.53) Previous year’s figures have been regrouped where necessary to confirm to this year’s classification.95) (62. 2011 the Company is actively pursuing the sale of property and equipment located in Crosbyton.84) 2010 680.87 (0.23) is recognised as an expense and included in Schedule 18 – ‘Contribution to Provident and Other Funds’ in the Profit and Loss account 23. 2011. As of December 31. Current year ( in lacs) (62. BATLIBOI & ASSOCIATES Chartered Accountants Firm Registration Number : 101049W per Sudhir Soni Partner Membership Number.06) (0.22 2009 548. 24.91 13. Shroff Director Manoj Gupta Chief Financial Officer Place : Hyderabad Date : February 27. 2012 122 . Asset held for Resale – Advanta US Inc. TX.69 (31.94 12.

stamp in stamped and signed and must be deposited at the Registered Office of the Company not less than 48 hours before the time for holding the meeting. at “Earthen Oven” Fortune Park Vallabha. Road No. Revenue Stamp Signature Note: (1) This Proxy Form in order to be effective should be duly filled. #8-2-418. June 20. of Shares PROXY FORM Advanta India Limited Registered office: Krishnama House.. Banjara Hills. Road No. 4th Floor. PLEASE FILL ATTENDANCE SLIP AND HAND IT OVER AT THE ENTRANCE OF THE MEETING HALL Joint Shareholders may obtain additional Slip at the venue of the meeting DP Id* Client Id* Name of the Shareholder: Name of the Proxy : I hereby record my presence at the 18th ANNUAL GENERAL MEETING of the Members of the Company held on Wednsday. of Shares I/We_____________________ of ____________________________ in the district of ____________________ being a member/members of Advanta India Limited hereby appoint _________________of ______________ in the district of ________________________or failing him ________________of___________in the district of ___________as my/our proxy to attend and vote for me/us on my/our behalf at the 18th ANNUAL GENERAL MEETING of the Members of the Company to be held on Wednsday. and at any adjournment thereof. June 20. Banjara Hills. #8-2-418. 4th Floor. The Proxy need not be a member of the Company. Road No. 2012 at 11.30 a. Hyderabad – 500034. Hyderabad – 500034. * Applicable for investor holding shares in electronic form 123 . Hyderabad – 500034. (2) No gifts will be distributed at the meeting. Banjara Hills. Banjara Hills. 7. No.m. * Applicable for investor holding shares in electronic form Member’s/Proxy signature Master Folio No. DP Id* Client Id* Master Folio No. Hyderabad – 500034. at “Earthen Oven” Fortune Park Vallabha.ATTENDANCE SLIP Advanta India Limited Registered office: Krishnama House.m. 12. No. 2012 at 11. 12.30 a. Signed this………………. Road No. 7.day of…………………2012.