UBHL annual report - United Spirits Limited

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Consolidated Financial StatementsNotes to the financial statements for the year ended March 31, 2012 (Contd.)Rs. Million2012 20117. Non-current Investments(Valued at Cost)Investment property (Note 3) 798.307 -Less: Accumulated Depreciation 14.982 -Net Block 783.325 -Trade investmentsQuotedIn fully paid Equity shares 0.532 87.268UnquotedIn fully paid Equity shares 161.809 14.187Associates** 31.821 61.540Add : Accumulated Profits / (Losses) of Associates(net of dividend received) (31.821) (26.346)- 35.194** Including Goodwill on acquisition of AssociatesRs. 3.518 Million (2011 : Rs. 3.518 Million) andCapital Reserve of Nil (2011 : Rs. 81.001 Million)162.341 136.649Other InvestmentsQuotedIn fully paid Equity shares 4.147 4.147In fully paid Units (Note 1) 8.374 8.374UnquotedIn fully paid Equity shares 0.130 10.838In fully paid Debentures (Non-redeemable) 0.048 0.048In Government securities 0.200 0.200Others (Note 2) 1,238.109 1,238.1091,251.008 1,261.716Total Investments 2,196.674 1,398.365Less: Provision for diminution in the value of investments 27.840 27.5132,168.834 1,370.852Aggregate value of Quoted Investments:Book value 13.053 99.789Market value 5,086.573 143.778Aggregate Book value of Unquoted Investments 2,155.781 1,271.063Notes:1. Investments in units of Unit Trust of India represent those made under Rule 3A of the Companies (Acceptance ofDeposit) Rules, 1975.2. Includes Rs. 41.140 Million (2011: Rs 41.140 Million) pertaining to 72,416,505 (2011: 72,416,505) Equity Shares ofSWBL whose beneficial ownership vested with SWFSL are kept with escrow agent in view of court order. Pursuantto a scheme of amalgamation, such beneficial interest are held in trust by the trustee of SWFSL benefit trust for thebenefit of SWBL.3. During the year there was a change to the intented use of these properties which has resulted to their reclassificationfrom Tangible Fixed Assets to investment property (carried at cost).89
Consolidated Financial StatementsNotes to the financial statements for the year ended March 31, 2012 (Contd.)Rs. Million2012 20118. Deferred Tax Assets (Net)Deferred Tax AssetsProvision for Doubtful debts 500.022 371.030Employee Benefits 394.624 226.108Other Timing Differences 616.785 1,183.5761,511.431 1,780.714Deferred Tax LiabilitiesDepreciation 919.580 1,455.401591.851 325.3129. Long term Loans and Advances(Unsecured, considered good unless stated otherwise)Capital Advances 315.341 265.391Deposit with a Financial Institution 4,000.000 -Loans to Tie-up Units 619.059 698.070Loans and Advances to Related Parties 210.873 4,348.860Advance Income Tax (Net of Provisions) 1,177.051 1,456.946Security Deposits :- Considered Good 5,030.345 2,568.588- Considered Doubtful 6.808 10.4255,037.153 2,579.013Less: Provision for doubtful Deposits 6.808 10.4255,030.345 2,568.588Other Recoverables :- Considered Good 1,047.385 4,131.547- Considered Doubtful 1,408.877 1,021.9982,456.262 5,153.545Less: Provision for Doubtful Advances 1,408.877 1,021.9981,047.385 4,131.54712,400.054 13,469.402(a) Of the above:(i) An amount of Rs. 265 Million (2011: Rs. 265 Million) due from the Tie-up units secured by the assets of the Tie-upunit and/or equity shares of the Tie-up unit.(ii) Rs.3 Million (2011: Rs.3 Million) being amount paid to BDA <strong>Limited</strong> (BDA) towards reassignment of certain LiquorBrands/ Trade Marks pursuant to a Memorandum of Understanding dated March 20, 1992. Pending executionof the deed for such assignments and judicial resolutions of various disputes with BDA pertaining to control ofBDA and ownership of the ‘Officers Choice’ and other brands currently sub-judice at various courts, the advancegiven to BDA has been provided for as a matter of prudence. All consequential adjustments arising out of theabove matters will be made as and when ascertained.(iii) Due from an Officer of the Company Rs 2.144 Million (2011: Rs. 1.777 Million). Maximum amount outstandingat any time during the year Rs.2.144 Million (2011: Rs. 1.777 Million).(iv) Due from the Managing Director of the Company Rs. 6.120 Million (2011: Rs. 3.799 Million).(b) During the year the Company has acquired 7,322,280 equity shares from the Promoters of Pioneer Distilleries <strong>Limited</strong>(PDL) on May 24, 2011 pursuant to the Share Purchase Agreement dated September 13, 2010 and 2,677,640 equityshares under the Open offer as per the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 andSEBI (Prohibition of Insider Trading) Regulations, 1992.90
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The TeamAshok CapoorPresident & MDP
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Report of the DirectorsYour Directo
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Report of the Directors (Contd.)Cou
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Report of the Directors (Contd.)ANN
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Report of the Directors (Contd.)SL.
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Corporate Governance Report (Contd.
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CERTIFICATE ON CORPORATE GOVERNANCE
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Annexure to Report of the Directors
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Annexure to the Auditors' ReportAnn
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Appendix 1* to the Auditor's Report
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Statement of Profit and Loss for th
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Cash Flow statement for the year en
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Notes to the financial statements f
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UBHL annual report - United Spirits Limited

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