1.  Nature of operations
 
 Advanta India Limited (AIL or the Company) is engaged in the
 business of research, production and sale of feld crops and vegetable
 seeds through distributors to farmers.
 
 2.  Capital Reserve represents State Investment subsidy sanctioned by
 the Government of Andhra Pradesh, for setting up of a unit at Toopran
 Mandal, Andhra Pradesh under Target 2000 Scheme of the State
 Government.
 
 3.  Contingent Liabilities as at the Balance Sheet date:
 
 (i) Income tax matters under dispute:
 
 a) Pending with authorities at 
 various levels                    - Rs. 1,922.35 lacs
                                   (Previous year : Rs. 1922.35 lacs);
 
 b) Estimated liability on the 
 basis of past assessments in 
 respect of pending assessments    - Rs.160.72 lacs (Previous year :
                                   Rs 160.72 lacs);
 
 (ii) Claims against the Company 
 not acknowledged as debts           Rs.8,019.59 lacs. 
                                   (Previous year: Rs 8,035.59 lacs).
 
 Includes a claim of Rs.7,903.39 lacs made by a party which the Company
 has disputed and has fled a counter claim against the said party for an
 amount of Rs.2,739.07 lacs.
 
 (iii) Guarantee is given by company 
 on behalf of subsidiary companies
                                      Rs. 7,986.77 lacs.  
                                    (Previous year: Rs.3,542.10 lacs)
 
 4.  Estimated amount of contracts remaining to be executed on capital
 account and not provided for (net of advance) Rs. 34.90 lacs (Previous
 year: Rs.33.54 lacs).
 
 5.  Based on the information available with the Company, there are no
 suppliers who are registered as micro, small or medium enterprises
 under The Micro, Small and Medium Enterprises Development Act, 2006,
 as at December 31, 2010.
 
 6.  Employees Stock Option Plan (ESOP)
 
 The Company instituted an Employees Stock Option Scheme (ESOPS) for
 certain employees as approved by the shareholders on 20th September,
 2006. In accordance with the scheme, the Company granted options in
 respect of 136,479 equity shares to employees of the Company and its
 subsidiaries on one to one basis at an exercise price of Rs.285/- being
 the market price as per the valuation report from a Chartered
 Accountant on the date of grant.  The options were granted with a
 vesting period spread over 4 years and 6 months. Out of the total
 options granted, vesting of 50% of the options granted is conditional
 upon the Company meeting annual performance benchmarks based on
 parameters set by the Remuneration Committee.
 
 As the intrinsic value (difference between Market price and Exercise
 price) on the date of the grant was nil, no compensation cost has been
 recognised in the financial statement. During the year 17,876 options
 have vested.
 
 Date of Grant                    September 27, 2006
 
 Date of Board Approval           September 13, 2006
 
 Date of Shareholders Approval    September 20, 2006
 
 Number of options granted        136,479
 
 Method of Settlement 
 (Cash / Equity)                  Equity
 
 Vesting Period                   Spread over 4 years and 6 months
 
 Exercise Period                  10 years
 
 Vesting Conditions               50% of the options granted is 
                                  conditional upon the Company 
                                  meeting annual performance benchmarks 
                                  based on parameters set by the
                                  Remuneration Committee
 
 7.  Segment Information
 
 a.  Business Segment :
 
 The Company has considered Business segment as the primary segment for
 disclosure. The Company is engaged in research, production and
 distribution of Hybrid seeds, which in the context of Accounting
 Standard 17 issued by the Institute of Chartered Accountants of India
 is considered the only Business Segment.
 
 b.  Geographical Segment :
 
 Secondary segmental information is based on the geographical location
 of the customers. The geographical segment have been disclosed based on
 revenues within India (sales to customers in India) and revenues
 outside India (sales to customer located outside India.)
 
 8.  Related Party Disclosures:
 
 a.  Names of related parties where control exist irrespective of
 whether transactions have occurred or not: Subsidiaries
 
 Name of the Company                 Country of Incorporation
 
 Advanta Holdings B.V.                  Netherlands
 
 Advanta Netherlands Holding B.V.       Netherlands
 
 Advanta Finance B.V.                   Netherlands
 
 Advanta International B.V.             Netherlands
 
 Pacifc Seeds (Thai) Limited            Thailand
 
 Pacifc Seeds Holdings (Thai) Limited   Thailand
 
 Pacifc Seeds Pty Ltd                   Australia
 
 Advanta Semillas SAIC                  Argentina
 
 Advanta Seed International             Mauritius
 
 Longreach Plant Breeders Management 
 Pty Limited                            Australia
 
 PT Advanta Seeds Indonesia             Indonesia
 
 Advanta US Inc                         USA
 
 Unicorn Seeds Private Limited          India
 
 Advanta Seeds Limited                  India
 
 Advanta Comercio De Sementas LTDA      Brazil
 
 b.  Names of other related parties with whom transactions have taken
 place during the year:
 
 Enterprises having Signifcant Infuence
 
 United Phosphorus Limited 
 Uniphos Enterprises Limited 
 Jai Research Foundation 
 PT United Phosphorus Indonesia
 
 Key Managerial Personnel
 
 Mr. V. R . Kaundinya - Managing Director
 
 9.  Details of Employee Benefits – Gratuity
 
 (i) Defned Benefit Plans
 
 The Company has a defned Benefit gratuity plan. Every employee who has
 completed five years or more of service gets a gratuity on departure at
 15 days salary (last drawn salary) for each completed year of service.
 The scheme is funded with an insurance company in the form of a
 qualifying insurance policy.
 
 10.  Leases:
 
 Operating Lease
 
 office Premises, motorcars are obtained on Operating lease. The lease
 term is in the range of 3 years to 30 years and thereafter renewable.
 There is no escalation clause in the lease agreement. There are no
 restrictions imposed by lease arrangements. There are no subleases.
 Lease rental expense for the year for the agreements entered into is
 Rs. 462.98 lacs. (Previous year: Rs.516.24 lacs)
 
 11.  Provision for Milestone Payments
 
 The Company had entered into a business purchase agreement (BPA) on
 January 4, 2008 with the erstwhile promoters of Unicorn Seeds Private
 Limited (USPL) for acquisition of their entire shareholding in USPL.
 Pursuant to the BPA, the Company had recognized a provision of Rs.
 1,000 lacs for milestone payable on achievement of certain targets upto
 June 30, 2010. Subsequent to the year-end, the Company has executed a
 Letter of Intent as a part of the settlement with erstwhile promoters
 of USPL, pursuant to which payment to the extent of Rs. 650 lacs has
 been agreed. Accordingly, the Company has recorded an adjustment in the
 current financial statements of write back of the said liability being
 no longer payable of Rs. 350 lacs, with corresponding reduction in the
 carrying value of investment in USPL. The agreement between the
 erstwhile promoters and the Company is to be executed.
 
 12.  Research and Development Expenses:
 
 a) Revenue        Rs. 790.87 lacs (Previous year: Rs. 992.32 lacs)
 
 b) Capital        Rs.  32.35 lacs (Previous year: Rs. 189.94 lacs)
 
 13.  Up to December 31, 2010, the Company has incurred Rs. 53.21 lacs
 in connection with the proposed rights issue of its equity shares. This
 amount shall be adjusted against securities premium arising from the
 proposed rights issue of equity shares, as permitted under section 78
 of the Companies Act, 1956. Accordingly, this amount has been carried
 forward and disclosed separately under the head Miscellaneous
 Expenditure in the Balance Sheet.
 
 14.  Previous years figures have been regrouped where necessary to
 confirm to this years classification.