SUBSIDIARY COMPANIES - ITC Ltd

NOTES TO THE ACCOUNTS
1. Share capital
Authorised :
4,000,000 (2010-11: 4,000,000)
(`) (`)
Equity Shares of ` 10 each 4,00,00,000 4,00,00,000
(see notes (a), (b) and (c) below)
Issued
3,800,020 (2010-11: 3,800,020)
4,00,00,000 4,00,00,000
Equity Shares of ` 10 each
(see notes (a), (b) and (c) below)
3,80,00,200 3,80,00,200
Subscribed and Paid-up
3,800,020 (2010-11: 3,800,020)
3,80,00,200 3,80,00,200
Equity Shares of ` 10 each fully paid-up
(see notes (a), (b) and (c) below)
3,80,00,200 3,80,00,200
Total 3,80,00,200 3,80,00,200
a) Shares held by holding Company
Equity shares
3,800,020 (2010-11: 3,800,020)
Equity shares of ` 10 each, fully paid up
3,80,00,200 3,80,00,200
b)
are held by the holding company Wimco Limited and its nominees.
Name of shareholders holding more than 5% of
the shares of the Company
Equity Shares
Wimco Limited, the holding Company 38,00,020 38,00,020
100% 100%
c) Rights, preferences and restrictions attached to shares
The Ordinary Shares of the Company, having par value of ` 10/- per share, rank
pari passu in all respects including entitlement to dividend. Repayment of capital
in the event of winding up of the Company will inter alia be subject to the
provisions of the Articles of Association of the Company and as may be determined
by the Company in General Meeting prior to such winding up.
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As at As at
March 31, 2012 March 31, 2011
PRAG AGRO FARM LIMITED
6. Fixed assets
Amount in (`)
Gross Block Accumulated Depreciation/Impairment NET BLOCK
As at April 1, 2011 As at March 31, 2012
As at Additions Disposed/ As at Depreciation As at As at
Description April 1, 2011 during the Adjusted March 31, 2012 Depreciation Impairment Charged for Depreciation Impairment March 31, 2012 March 31,2011
Tangible assets
year during the year the Year
Leasehold land 10,16,90,195 — — 10,16,90,195 2,72,52,052 5,10,01,947 11,41,995 2,83,94,047 5,10,01,947 2,22,94,201 2,34,36,196
Building 1,79,500 — — 1,79,500 59,015 — 5,880 64,895 — 1,14,605 1,20,485
Plant and machinery 45,500 — — 45,500 29,485 — 1,236 30,721 — 14,779 16,015
Furniture and fixture 1,500 — — 1,500 1,500 — — 1,500 — — —
Vehicle 36,500 — — 36,500 33,509 — 2,991 36,500 — — 2,991
10,19,53,195 — — 10,19,53,195 2,73,75,561 5,10,01,947 11,52,102 2,85,27,663 5,10,01,947 2,24,23,585 2,35,75,687
2010-11 10,19,68,195 — — 10,19,53,195 2,62,21,261 5,10,01,947 11,54,300 2,73,75,561 5,10,01,947 2,35,75,687
As at As at
March 31, 2012 March 31, 2011
(`) (`)
7. Non-current investments
Unquoted :
Trade investments
Investment in government securities
National savings certificates
(pledged with various Mandi Samitis) 33,000 31,000
Kissan vikas patra 1,000 1,000
Total 34,000 32,000
Total non-current investments (at cost) unquoted
8. Inventories
34,000 32,000
Work-in-progress - agri produces 30,85,370 17,45,735
Work-in-progress - poplar trees 1,10,99,108 81,60,467
Finished goods 41,735 —
Total 1,42,26,213 99,06,202
(`) (`)
2. Reserves and surplus
(Deficit) in the statement of profit and loss
Balance at the beginning of the year (7,48,92,319) (7,54,28,908)
Less : Profit for the year 6,17,551 5,36,589
(7,42,74,768) (7,48,92,319)
3. Long-term borrowings
Unsecured :
Loans and advances from related parties 7,88,84,854 7,62,46,057
7,88,84,854 7,62,46,057
Borrowings Terms of repayment
As at As at
March 31, 2012 March 31, 2011
Loans and advances from related party
– Wimco Limited (holding company) Interest free, repayable by March 31, 2014.
4. Trade payables
Total outstanding dues of micro enterprises
and small enterprises (see note 20)
Total outstanding dues of creditors other
— —
than micro enterprises and small enterprises 5,12,364 2,01,888
Total 5,12,364 2,01,888
5. Other current liabilities
Advances from customers
Statutory dues payable
1,00,000 50,000
- (tax deducted at source -’TDS’) 29,640 17,866
Total 1,29,640 67,866
As at As at
March 31, 2012 March 31, 2011
(`) (`)
9. Trade receivables
Trade receivables outstanding for a
period less than six months from the
date they are due for payment
Unsecured, considered good 7,78,273 7,10,108
Total 7,78,273 7,10,108
10. Cash and cash equivalents
Cash and cash equivalents
Balances with bank :
- In current accounts 64,491 6,408
Cash on hand 12,134 12,091
Total 76,625 18,499