Vadilal Dairy International Ltd. के अकाउंट के लिये नोट

Mar 31, 2024

Provisions and contingent liabilities

A provision is required when the Company has a present obligation as a result of past event and it is probable that an outflow of
resources will be required to settle the obligation, in respect of which a reliable estimate can be made. Provisions (excluding
retirement benefits and compensated absences) are not discounted to its present value and are determined based on best
estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted
to reflect the current best estimates.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be
confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the
Company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be
required to settle the obligation or a reliable estimate of the amount cannot be made. Contigent liabilities are not recognised in the
financial statements. A contigent asset is neither recognised nor disclosed in the financial statements.

(D) Revenue recognition

Sale of goods:

Revenue is recognised when the significant risks and rewards of ownership of the goods have been passed to the buyer. Sales are disclosed net of sales tax / VAT/GST, trade
discounts,turnover discounts and returns, as applicable.

Interest & Dividend:

Dividend income is recorded when the right to receive payment is established. Interest income is recognised using the effective interest method.

(E) Income taxes

Income tax expense comprises current tax expense and the net change in the deferred tax asset or liabilitiy during the year. Current and Deferred taxes are recognised in
Statement of Profit & Loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax are
also recognised in other comprehensive income or directly in equity, respectively.

Current income taxes

The current income tax expense includes income taxes payable by the Company.

Advance taxes and provisions for current income taxes are presented in the Balance Sheet after off-setting advance tax paid and income tax provision arising in the same
jurisdiction and where the relevant tax paying units intends to settle the asset and liability on a net basis.

Deferred income taxes

Deferred income tax is recognised using the Balance Sheet approach. Deferred income tax assets and liabilities are recognised for deductible and taxable temporary differences
arising between the tax base of assets and liabilities and their carrying amount, except when the deferred income tax arises from the initial recognition of an asset or liability in a
transaction that is not a business combination and affects neither accounting nor taxable profit or loss at the time of the transaction.

Deferred income tax asset are recognised to the extent that it is probable that taxable profit will be available against which the dedutible temporary differences and the carry forward
of unused tax credits and unused tax losses can be utilised.

The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be
available to allow all or part of the deferred income tax asset to be utilised.

Deferred tax assets and liabilities are measured using substantively enacted tax rates expected to apply to taxable income in the years in which the temporary differences are
expected to be received or settled.

Deferred tax assets and liabilities are offset when they relate to income taxes levied by the same taxation authority and the relevant entity intends to settle its current tax assets and
liabilities on a net basis.

(F) Financial instruments

Financial assets and liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument. Financial assets and liabilities are initially
measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial
liabilities at fair value through profit or loss) are added to or deducted from the fair value measured on initial recognition of financial asset or financial liability.

Cash and cash equivalents

The Company considers all highly liquid financial instruments, which are readily convertible into known amounts of cash that are subject to an insignificant risk of change in value
and having original maturities of three months or less from the date of purchase, to be cash equivalents. Cash and cash equivalents consist of balances with banks which are
unrestricted for withdrawal and usage.

Financial assets at amortised cost

Financial assets are subsequently measured at amortised cost if these financial assets are held within a business whose objective is to hold these assets to collect contractual cash
flows and the contractual terms of the financial asets give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Financial assets at fair value through other comprehensive income

Financial assets are measured at fair value through other comprehensive income if these financial assets are held within a business whose objective is achieved by both collecting
contractual cash flows on specified dates that are solely payments of principal and interest on the principal amount outstanding and selling financial assets.

Financial liabilities

Financial liabilities are measured at amortised cost using the effective interest method.

Equity instruments

An equity instrument is a contract that evidences residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments recognised by the Company
are recognised at the proceeds received net off direct issue cost.

(G) Property, plant and equipment

Depreciation is provided for property, plant and equipment so as to amortise the cost over their estimated useful lives based on a technical evaluation. The estimated useful lives
and residual value are reviewed at the end of each reporting period.

Financial assets (other than at fair value)

The Company assesses at each date of Balance Sheet whether a financial asset or a group of financial assets is impaired. IndAS 109 requires expected credit losses to be
measured through a loss allowance. The Company recognises lifetime expected losses for all contract assets and/or all trade receivables that do not constitute a financing
transaction. For all other financial assets, expected credit losses are measured at an amount equal to the 12 month expected credit losses or at an amount equal to the life time
expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition.

Financial assets (other than at fair value)

Tangible and intangible assets

Property, plant and equipment and intangible assets with finite life are evaluated for recoverability whenever there is any indication that their carrying amounts may not be
recoverable. If any such indication exists, the recoverable amount (i.e. higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis
unless the asset does not generate cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the cash generating
unit (CGU) to which the asset belongs.

If the recoverable amount of an asset (of CGU) is estimated to be less than its carrying amount, the carrying ammount of the asset (of CGU) is reduced to its recoverable amount.
An impairment loss is recognised in the statement of profit and loss.

(I) Employee benefits
Defined benefit plans

For defined benefit plans, the cost of providing benefits is determined using the Projected Unit Credit Method, with actuarial valuations being carried out at each Balance Sheet date.
Actuarial gains and losses are recognised in full in the Statement of Profit & Loss for the period in which they occur. Past service cost both vested and unvested is recognised as an
expense at the earlier of (a) when the plan amendment or curtailment occurs; and (b) when the entity recognises related restructuing costs or termination benefits.

The retirement benefit obligations recognised in the Balance Sheet represents the present value of the defined obligations reduced by the fair value of scheme assets. Any asset
resulting from this calculation is limited to the present value of available refunds and reductions in future contributions to the scheme.

Defined contribution plans

Contributions to defined contribution plans are recognised as expense when employees have rendered services entitling them to such benefits.

Compensated absences

Compensated absences which are not expected to occur within twelve months after the end of the period in which the employee renders the related services are recognised as an
actuarially determined liability at the present value of the defined benefit obligation at the Balance Sheet date.

(J) Inventories

Company has Raw Material, Packing Material, Work in Progress and Finished Goods as inventory. Raw Material, packing material and Work in Progress are carried at cost.
Finished Goods are carried at the lower of cost and net realisable value. Cost is determined on a FIFO basis.

(K) Borrowing costs:

Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalized as part of cost of such asset till such time as the asset
is ready for its intended use or sale. All other borrowing costs are recognized as an expense in the period in which they are incurred.

Company has borrowings from banks & financial institutions secured by it''s own fixed deposits & shares.It has also loan from directors.It has no debts from any other external
sources.

(L) Earnings per share

Basic earnings per share are computed by dividing profit or loss attributable to equity shareholders of the Company by the weighted average number of equity shares outstanding

during the year. The Company did not have any potentially dilutive securities in any of the years'' presented.

Diluted earnings per share are computed by dividing net profit net profit attributable to the equity holders of the Company by the weighted average number of equity
sharesconsidered for deriving basic earnings per share and also the weighted average number of equity shares that could have been issued upon conversion of all dilutive potential
equity shares unless the results would be anti - dilutive. The dilutive potential equity shares are adjusted for the proceeds receivable had the equity shares been actually issued at
fair value (i.e. the average market value of the outstanding equity shares). Dilutive potential equity shares are deemed converted as of the beginning of the period, unless issued at
a later date. Dilutive potential equity shares are determined independently for each period presented.

Contributed equity:

Equity shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds

(M) Exceptional Items

Certain occasions, the size, type or incidence of an item of income or expense, pertaining to the ordinary activities of the company is such that its disclosure improves the
understanding of the performance of the company, such income or expense is classified as an exceptional item and accordingly, disclosed in the notes accompanying to the
financial statements.

(N) Additional Regulatory Charges

As per the website of the Ministry of Corporate affairs, certain charges aggregating on properties of the Company are pending for satisfaction due to some procedural issues,
although related loan amounts have already been paid in full details are shown as below :

c) No aggregate amounts of current and deferred tax have arisen in the reporting periods which have been recognised in equity and not
in Statement of Profit and Loss or other comprehensive income.

d) Unrecognsied temporary differences

The Company has not recognised deferred tax liability associated with fair value gains on equity share measured at OCI as based on
Management projection of future taxable income and existing plan it is not probable that such difference will reverse in the foreseeable future.

Risk exposure

Through its defined benefit plans, the Company is exposed to a number of risks, the most significant of which are detailed below:

i) Asset volatility

The plan liabilities are calculated using a discount rate set with reference to bond yields; if plan assets underperform this yield, this will create a deficit. Most of the plan asset
investments is in fixed income securities with high grades and in government securities. These are subjectto interest rate risk. The Company has a risk management strategy where
the aggregate amount of risk exposure on a portfolio level is maintained at a fixed range. Any deviations from the range are corrected by rebalancing the portfolio. The Company
intends to maintain the above investment mix in the continuing years.

b) Valuation technique used to determine fair value

Specific valuation techniques used to value financial instruments include:

i) the use of quoted market prices or dealer quotes for similar instruments

ii) the fair value of interest rate swaps is calculated as the present value of the estimated future cash flows based on observable yield curves.

iii) the fair value of forward foreign exchange contracts are determined using forward exchange rates at the Balance Sheet date

iv) the fair value of foreign currency option contracts is determined using the Black Scholes valuation model.

v) the fair value of the remaining financial instruments is determined using discounted cash flow analysis.

c) Valuation processes

The finance department of the Company includes a team that
performs the valuations of financial assets and liabilities
required for financial reporting purposes, including level 3 fair
values. This team reports directly to the Chief Financial
Officer (CFO).

31 CAPITAL MANAGEMENT
Risk management

The primary objective of the Company''s Capital Management is to maximise shareholder value. The Company monitors capital using Debt-Equity ratio, which is
total debt divided by total capital plus total debt.

For the purposes of the Company''s capital management, the Company considers the following components of its Balance Sheet to be managed capital:

Total equity as shown in the Balance Sheet includes General reserve, Retained earnings, Share capital, Security premium. Total debt includes current debt plus
non-current debt.

32 CORPORATE SOCIAL RESPONSIBILITY

The provisions of CSR are not applicable in FY 2021-22, FY 2022-23 and FY 23-24

33 REGROUPED | RECAST | RECLASSIFIED

Figures of the earlier year have been reclassified to conform to Ind AS presentation requirements

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Mar 31, 2014

Note 1 - Contingent Liabilities

1. Contingent Liabilities are not recognised but are disclosed in financial statements. Provision involving substantial degree of estimation in measurement is recognized when there is present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent liabilitieare not recognized but are disclosed in the notes.

2. Contingent liabilities and commitments 2014 2013 (to the extent not provided for) Rs. Rs.

Contingent liabilities

(a) Claims against the Company not acknowledged as debt (Excluding interest claimed by the parties) 7,601,886 7,601,886

(b) Claims from Creditors/Stockiest whose credit balance have been assigned to a customer of the company 18,880,734 18,880,734

(c) Interest on VAT, as per Order of Additional Commissioner of Sales Tax for the Period April 2007 to March 2012 Challenged by company with BIFR 31,526,630 23,318,001

(d) Water Charges not acknowledged - 2,876,675

(e) Difference in Rate of VAT contested before Maharashtra VAT Tribunal for the period

Feb 2006 to January 2008 14,019,268 14,019,268

Interest for above period 11,080,125 -

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Mar 31, 2013

Particulars 2013 2012 (Rs.) (Rs.)

Contingent liabilities and commitments (to the extent not provided for)

Contingent liabilities

(a) Claims against the Company not acknowledged as debt 7,601,886 7,601,886 (Excluding interest claimed by the parties )

(b) Claims from Creditors/Stockiest whose credit balance have 18,880,734 18,880,734 been assigned to a customer of the company

(c) Income Tax demand for earlier years 2,701,112 2,701,112

(d) Interest on VAT, as per Order of Additional Commissioner of 23,318,001 23,318,001

Sales Tax for the Period April 2007 to March 2012 Challenged by company with BIFR

(e) Water Charges not acknowledged 2,876,675 2,876,675

(f) Difference in Rate of VAT contested before Maharashtra VAT Tribunal for the period Feb 2006 to January 2008 14,019,268 14,019,268

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Mar 31, 2012

1.1.1 Contingent Liabilities are not recognised but are disclosed in financial statements. Provision involving substantial degree of estimation in measurement is recognized when there is present obligation as a result of past events and it is probable that there will be an outflow of resources.

Note Particulars 2012 2011 (Rs.) (Rs.)

1.2.1 Contingent liabilities and commitments (to the extent not provided for)

Contingent liabilities

(a) Claims against the Company not acknowledged as 7,601,886 7,601,886 debt (Excluding interest claimed by the parties)

(b) Claims from Creditors/Stockiest whose credit balance 18,880,734 18,880,734 have been assigned to a customer of the company

(c) Income Tax demand for earlier years 2,701,112 2,701,112

(d) Interest on VAT, as per Order of Additional 23,318,001 - Commissioner of Sales Tax for the Period April 2007 to March 2012 Challenged by company with BIFR

(e) Water Charges not acknowledged 2,876,675 2,876,675

(f) Difference in Rate of VAT contested before 14,019,268 14,019,268 Maharashtra VAT Tribunal for the period Feb 2006 to January 2008

1.3.1 The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

1.4.1 Previous year figures are regrouped wherever necessary to make them comparable with the figures of the current year.

1.4.2 Balances of loans/advances/ sundry creditors and debtors are subject to confirmation and adjustment if any.

1.4.3 In the opinion of Board of Directors the Current Assets, Loans and advances are stated not above the realization value in the ordinary course of business.

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Mar 31, 2009

1. CONTINGENT LIABILITIES :

CURRENT YEAR PREVIOUS YEAR

( As certified by management and relied upon by toe Auditors) (RUPEES) (RUPEES)

i) €laims lodged against me company not acknowledged as debts 7.601.886 7.601.886 ( Excluding interest claimed by the parties )

ii) Claims from Creditors/Stockiest whose credit balance have 18.880.734 18,880,734 been assigned to a customer of the company

iii) Income Tax demand for earlier years 2.701.112 2,701,112

iv) Water Charges not acknowledged 2.876,675 2,876,675

v) Difference in Rate of VAT contested before Maharashtra VAT Authorities for the period

Feb 2006 to January 2008 14,019,268 14,019,268

Geographical Segment

Since the Companys entire business is conducted within India, there are no separate reportable geographical segments.

2. Related party Disclosures :

a. List of and relationship with related parties with whom transactions have taken place during the year:

Name of the Related Party: Nature of the Relationship

Vadilal Industries Limited Associates

Vadilal Chemicals Limited Associates

Bela Investment & Finance Company Ltd Associates

Shree Jay Ambe Company Associates

Shri S.R. Gandhi Key Management Personnel

3. Deferred tax recognisation on timing difference, being the difference between taxable income & accounting income that originate in one period & are capable of reversal in one or more subsequent periods. The deferred tax charge or credit is recognised using current tax rates. Where there is unabsorbed depreciation or carry forward losses, deferred tax assets are recognised only if there is virtual certainty of realisation of such assets. Deferred Tax Liability for the year is Rs. 1,827,719/- (P. Y. Rs.2,071,450) and Deferred Tax Asset for the year is Rs.23,695,696/- (P. Y.25,972,984/-).

4. The balances of Sundry Debtors, Creditors and advances are subject to confirmation. Adjustment including provision/write off if any, required in accounts will be made on final reconciliation and/or settlement.

5. In the absence of adequate information regarding the SSI Creditors, the Company is unable to give full particulars as required by Notification No. GSR - 376 (E) dated 22nd May 2002 issued by the Department of Company Affairs, Ministry of Law & Justice and Company Affairs.

6. Aggregate Managerial Remuneration under Section 198 of the Companies Act, 1956 paid or provided for during the year to the Managing Director and other directors is Rs 1,083,000/- (RY. Rs.944,549/-).

7. Unclaimed dividends are subject to reconciliation.

8. Unless otherwise stated, in the opinion of the Board of Directors, the current assets, loans & advances are approximately of the value if realised in the ordinary course of business. The provisions for all known liabilities made are adequate and are neither short nor in excess of the amount reasonably necessary.

9. Balances amounting to Rs. 143,922/- (RY. 1,43,922/-) with various banks are subject to confirmation and reconciliation (if any).

10. Figures in Brackets in the Notes forming part of the accounts relate to the previous year.

13. Previous year figures have been re-grouped/re-arranged wherever necessary to make them comparable with current year figures.

11. In view of Companies past brought forward losses and unabsorbed depreciation, company has not made any Provision for Taxation.