EXCEL CROP CARE LIMITED C O N T E N T S - BSE

SCHEDULE 'U' (Contd.)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
EXCEL CROP CARE LIMITED
SCHEDULE FORMING PART OF THE CONSOLIDATED BALANCE SHEET AND THE CONSOLIDATED PROFIT AND LOSS ACCOUNT
84
As at 31st
March, 2011
(` in lacs)
As at 31st
March, 2010
(` in lacs)
3. Contingent Liabilities:
(a) Disputed excise-duty liability 4.40 2.77
(b) Disputed service-tax liability 36.05 34.45
(c) Disputed Income-tax liability 1,20.79 1,05.38
(d) Disputed Sales-tax liability 73.18 11.57
(e) Guarantees given by the Holding Company’s bankers to third parties 51.15 79.46
(f) Liability in respect of employee(s) disputes Amount
Amount
unascertainable unascertainable
(g) Claims against the Group not acknowledged as debts 44.23 19.86
4. Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) 9,06.27 1,39.34
5. On a writ petition filed by Democratic Youth Federation of India against the Union of India and State Governments
seeking a ban on Endosulfan (a major product of the Holding Company) citing health concerns, the Hon’ble Supreme
Court opined that a detailed study on an all India basis needed to be undertaken by an Expert Committee to address
the said health concerns. By an ad-interim order passed on 13th May 2011, the Hon’ble Supreme Court has appointed
a Joint Committee headed by the Director General of Indian Council of Medical Research and the Commissioner
(Agriculture) to conduct a scientific study and submit its interim report within eight weeks. Pending submission of the
interim report, the order bans the production, use and sale of Endosulfan all over India till further orders.
In compliance with the ad-interim order of the Hon’ble Supreme Court, the Holding Company immediately suspended
production and sale of Endosulfan. Out of abundant caution, a provision of ` 10,20.00 lacs has been made in respect
of the inventory items relating to Endosulfan as at 31st March, 2011.
6. Break up of Deferred Tax Assets and Deferred Tax Liabilities:
(a) Deferred Tax Assets:
(i) Liabilities Allowable on Payment basis 2,92.64 2,06.76
(ii) Provision for Doubtful Debts 1,31.91 97.29
(iii) Provision for Inventory 3,30.94 —
(iv) Others 5.27 0.42
7,60.76 3,04.47
(b) Deferred Tax Liabilities:
Depreciation 16,84.20 16,80.85
Current Year
(` in lacs)
Previous Year
(` in lacs)
7. The amount of exchange differences in respect of forward exchange contracts to be recognised as an income/
(expense) in the Profit and Loss Account of the subsequent year. 27.73 (4.67)
8. Research and Development costs debited to the Profit and Loss Account are as under:
(i) Revenue expenses 7,24.55 5,81.27
(ii) Depreciation 42.53 39.66
7,67.08 6,20.93
9. Consolidated Earnings Per Share:
(1) Profit after tax 42,31.31 37,99.68
Add:
Prior Period Adjustments (Net) (24.75) 9.63
Minority Interest 21.24 2.67
Share of Profit/(Loss) in Associate 42.67 (90.39)
Profit Attributable to Equity Shareholders (A) 42,70.47 37,21.59
Nos. Nos.
(2) Number of Equity Shares outstanding during the year (B) 1,10,05,630 1,10,05,630
(`) (`)
(3) Earnings per Share (A)/(B) (basic and diluted) 38.80 33.82
(4) Face Value of Equity Share 5.00 5.00