2007-08 - Aditya Birla Nuvo, Ltd

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SCHEDULES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTSCountry of Proportion of Proportion ofIncorporation Ownership OwnershipInterest as on Interest as on31 st March, 2008 31 st March, 2007JOINT VENTURESBirla Sun Life Asset Management Company Limited (BSAMC) India 50.00% 50.00%Birla Sun Life Distribution Company Limited (BSDL) India 49.99% 49.99%Birla Sun Life Trustee Company Private Limited (BSTPL) India 49.80% 49.80%IDEA Cellular Limited (IDEA) India 31.78% 31.78%(Previous Year: 20.74% upto June 19, 2006; 35.74% uptoMarch 09, 2007, and thereafter 31.78% )ASSOCIATESBirla Securities Ltd. (BSL) India 50.00% 50.00%CONSOLIDATED ACCOUNTS(B)Crafted Clothing Pvt. Limited (CCPL) — —(on becoming subsidiary, ceased to be an associate w.e.f.August 03, 2006)NOTES ON ACCOUNTSRs. CroresConsolidated Consolidated31 st March, 2008 31 st March, 20071 (A) Estimated Amount of Contracts remaining to beexecuted on Capital Account and not provided for(Net of Advances) 726.55 410.27(B)Contingent Liabilities not provided for in respect of:i) Claims against the companies not acknowledged as debtsa) Income Tax 80.88 54.06b) Custom Duty 2.69 2.58c) Excise Duty 33.30 17.39d) Sales Tax 15.17 16.06e) Service Tax 35.24 0.45f) Others 113.53 43.97ii) Bills Discounted/Rediscounted with Banks 80.35 63.70iii)iv)Corporate Guarantees given to Banks/FinancialInstitutions for Loans taken by companies 344.90 21.79Customs Duty on capital goods and raw materialsimported under advance licensing/EPCG scheme, againstwhich export obligation is to be fulfilled 43.00 114.68v) Uncalled liability on shares partly paid up — 19.58vi) Others — 25.11749.06 379.37(138)
SCHEDULES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTSvii)Under the Jute Packaging Material (Compulsory use of Packing Commodities) Act, 1987, a specifiedpercentage of fertilisers dispatched was required to be supplied in Jute Bags upto 31.08.2001. TheReporting Company made conscious efforts to use jute-packaging material as required under theAct. However, due to non-availability of material as per the Reporting Company’s product specificationsas well as due to strong customer resistance to use of Jute Bags, the specified percentage could notbe adhered to. The Reporting Company has received a show cause notice, against which a writpetition has been filed with the High Court, which is awaiting hearing. The Reporting Company hasbeen advised that the said levy is bad in law.2. Actuarial liabilities are calculated in accordance with the accepted actuarial practice, professional guidancenotes issued by the Actuarial Society of India, requirements of the Insurance Act, 1938, and regulations notifiedby the IRDA. The linked policies sold by the Company carry two types of liabilities — unit reserve representingthe fund value of policies and non-unit reserve for future expenses, meeting insurance and other claims andcost of any guarantees. In non-linked policies the future liability consists of expenses, insurance and otherclaims and cost of any guarantees. An allowance for reinsurance in the valuation liability is taken by projectingreinsurance premiums paid and reinsurance benefits received.3. Deferred Tax (Assets)/Liabilities at the year end comprise timing difference on account of:Rs. CroresConsolidated Consolidated31 st March, 2008 31 st March, 2007Depreciation 294.88 238.40Expenditure/Provisions Allowable (68.69) (58.76)Total 226.19 179.64Deferred tax assets are not recognised on losses and unabsorbed depreciation in certain subsidiaries.4. Previous Year’s FiguresDuring preparation of CFS for FY 2007, consolidated accounts of IDEA were considered, which were limitedreviewed by its Auditors. Subsequently, audited CFS of IDEA was available. Accordingly, previous year’s figureshave been recasted. The effect of this substitution on the previous year’s figures is as under:RestatedRs. CroresOriginalReserves & Surplus 3,026.29 3,400.20Goodwill on Consolidation 2,594.89 2,968.47Net Current Assets 1,750.23 1,751.36Income 8,324.40 8,324.55Expenses 7,970.41 7,970.56Profit before Tax 353.99 353.99Provision for Taxation 111.90 111.56Net Profit before Minority Interest 242.09 242.43CONSOLIDATED ACCOUNTS(139)
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Mr. G. D. Birla and Mr. Aditya Birl
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THE CHAIRMAN’S LETTER TO SHAREHOL
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THE CHAIRMAN’S LETTER TO SHAREHOL
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ADITYA BIRLA NUVO LIMITEDBOARD OF D
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FINANCIAL HIGHLIGHTS - STANDALONERs
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MANAGEMENT’S DISCUSSION AND ANALY
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CORPORATE GOVERNANCE REPORTGovernan
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CORPORATE GOVERNANCE REPORT1. Manag
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CORPORATE GOVERNANCE REPORTEmployee
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CORPORATE GOVERNANCE REPORTAll the
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CORPORATE GOVERNANCE REPORTMEANS OF
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SOCIAL REPORTTranscending BusinessS
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SOCIAL REPORTMaking a difference -
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ENVIRONMENT REPORTElements for the
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SHAREHOLDER INFORMATION6c. Domestic
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SHAREHOLDER INFORMATION12. Share Tr
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SHAREHOLDER INFORMATION16. Demateri
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SHAREHOLDER INFORMATION21. Per Shar
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SHAREHOLDER INFORMATIONAccordingly,
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DIRECTORS’ REPORT TO THE SHAREHOL
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ANNEXURE ‘A’ TO THE DIRECTORS
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ANNEXURE ‘B’ TO DIRECTORS’ RE
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AUDITORS’ REPORT TO THE MEMBERSAn
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AUDITORS’ REPORT TO THE MEMBERS(x
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PROFIT & LOSS ACCOUNT FOR THE YEAR
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SCHEDULESSCHEDULE 2RESERVES & SURPL
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SCHEDULESRs. CroresAs atAs atFace V
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SCHEDULESSCHEDULE 7INVENTORIESAs at
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Page 91 and 92: SCHEDULESSCHEDULE 19SIGNIFICANT ACC
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Page 121 and 122: SEGMENT DISCLOSURES FOR THE YEAR EN
Page 123 and 124: CASH FLOW STATEMENT FOR THE YEAR EN
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Page 127 and 128: CONSOLIDATED PROFIT & LOSS ACCOUNT
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Page 153 and 154: CONSOLIDATED CASH FLOW STATEMENT AS
Page 156 and 157: ANNEXURE ‘1’ OF STATEMENT PURSU
Page 158 and 159: STATEMENT PURSUANT TO SECTION 212(8
Page 160 and 161: ANNEXURE ‘A’ OF STATEMENT U/S 2
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Page 164: ADITYA BIRLA NUVO LIMITEDRegistered
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2007-08 - Aditya Birla Nuvo, Ltd

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