i) Commitments and contingent liabilities
 
                                                As at           As at
 
 Particulars                            31 March 2011   31 March 2010
 
 Estimated amount of contracts 
 remaining to be executed on
 capital account and not provided 
 for (net of advances)                         120.24          110.48
 
 Contingent liabilities:
 
 Guarantees given by bank *                     95.81            6.95
 
 Claims against the Company not a
 cknowledged as
 debts in respect of:
 
 Sales tax matters, under dispute              615.21          615.21
 
 Other matters, under dispute                   43.61           43.61
 
 The amounts included above, represent the best possible estimates
 arrived at on the basis of available information. The uncertainties and
 possible reimbursements are dependent on the outcome of the different
 legal processes which have been invoked by the Company or the claimants
 as the case may be and therefore cannot be predicted accurately. The
 Company engages reputed professional advisors to protect its interests
 and has been advised that it has strong legal positions against such
 disputes.
 
 * Represent guarantees given in the normal course of the Companys
 operations and are not expected to result in any loss to the Company on
 the basis of the benefciaries fulflling their ordinary commercial
 obligations.
 
 ii) During the year, the Company has sold its vanaspati brand Rath
 to Cargill India Private Limited vide an agreement dated 12 November
 2010 for a consideration of Rs. 258. The transaction was consummated on
 15 December 2010. The profit on sale of the brand amounted to Rs. 174.46
 has been credited to the profit and loss account and disclosed under the
 head Exceptional item. This divestiture is consistent with Companys
 long term strategy of focusing on value added products.
 
 iii) Operating leases
 
 The Company leases offce facilities under cancellable and
 non-cancellable operating lease agreements.  Total rental expense under
 cancellable operating leases was Rs. 53.41 (Previous year: Rs. 48.30) and
 under non-cancellable portion was Rs. 11.80 (Previous year: Rs. 3.82),
 which has been disclosed as rent.
 
 iv) Intangible assets
 
 Brands purchased by the Company are being amortised on straight line
 method based on their estimated useful lives. Consequently,
 amortisation cost for the year includes a sum of Rs. 8.45 (Previous year
 - Rs. 9.28) being the amortisation relating to these brands. On the
 Balance Sheet date, the management has reassessed the value of these
 brands through an independent valuer to ensure that the recoverable
 amounts of these assets are not lower than their carrying amounts.
 
 Since, the Company does not have any potential equity shares hence, the
 basic and diluted earnings per share are the same.
 
 v) Employee benefits
 
 a) The employee beneft schemes are as under:
 
 i). Provident fund:
 
 All employees of the Company receive benefits under the provident fund
 which is a defned beneft plan wherein the Company provides the
 guarantee of a specifed return on contribution. The contribution is
 made both by the employee and the Company equal to 12% of the
 employees salary. These contributions are made to the fund
 administered and managed by the Companys own Trust.
 
 ii). Superannuation fund:
 
 The Company has a defned contribution scheme to provide pension to the
 eligible employees. The Company makes monthly contributions equal to a
 specifed percentage of the covered employees salary. These
 contributions are administered by Companys own Trust which has
 subscribed to Group superannuation policy of ICICI Prudential Life
 Insurance Company Limited. The Companys monthly contributions are
 charged to the profit and Loss Account.
 
 iii). Gratuity:
 
 In accordance with the payment of Gratuity Act, 1972 of India, the
 Company provides for gratuity, a defned retirement beneft scheme (the
 Gratuity Plan), covering eligible employees. Liabilities with regard to
 such gratuity plan are determined by an actuarial valuation as at the
 end of the year and are charged to profit and Loss Account. The gratuity
 plan is a funded plan administered by Companys own Trust which has
 subscribed to Group gratuity scheme of ICICI Prudential Life
 Insurance Company Limited.
 
 vi). Compensated absences:
 
 The accrual for unutilised leave is determined for the entire available
 leave balance standing to the credit of the employees at the year end.
 The value of such leave balances that are eligible for carry forward,
 is determined by an actuarial valuation as at the end of the year and
 is charged to the profit and Loss Account.
 
 Discount rate: The discount rate is based on the prevailing market
 yields of Indian Government securities as at the Balance Sheet date for
 the estimated term of the obligations.
 
 Expected rate of return on plan assets: This is based on the
 expectation of the average long term rate of return expected on
 investments of the fund during the estimated term of the obligations.
 
 Salary escalation rate: The estimates of future salary increase
 considered in the actuarial valuation takes into account factors like
 infation, seniority, promotion and other relevant factors such as
 supply and demand in the employment market.
 
 *It represents the employee beneft expense which has been included
 under salaries,wages and bonus in Schedule 14.
 
 **The Company has not recognised an asset amounting to Rs. Nil (Previous
 year Rs. 2.01) as there are no future economic benefits available to the
 Company in the form of reduction in future contribution or a cash
 refund.
 
 vii) Agro Tech Foods Limited Employee Stock Option Plan
 
 The Company instituted the Agro Tech Foods Limited Employee Stock
 Option Plan (Plan) to grant equity-based incentives to its eligible
 employees. The company has established a trust called the Agro Tech
 ESOP Trust (Trust) to implement the Plan.
 
 viii) Segment information
 
 The entire operations relate to only one segment Branded Foods.
 Accordingly there are no reportable segments to be disclosed as
 required by Accounting Standard 17 Segment reporting.
 
 ix) Amounts payable to micro, small and medium enterprises
 
 The Ministry of Micro, Small and Medium Enterprises has issued an Offce
 Memorandum dated 26 August 2008 which recommends that the Micro and
 Small Enterprises should mention in their correspondence with its
 customers the Entrepreneurs Memorandum Number as allocated after fling
 of the Memorandum.  Accordingly, the disclosure in respect of the
 amounts payable to such enterprises as at 31 March 2011 has been made
 in the fnancial statements based on information received and available
 with the Company.  The Company has not received any claim for interest
 from any supplier under the said Act.
 
 x) Disclosure regarding derivative instruments
 
 The Company uses forward exchange contracts to hedge against its
 foreign currency exposures relating to the underlying transactions and
 frm commitments. The use of this foreign exchange forward contracts
 reduces the risk or cost to the Company and the Company does not use
 the foreign exchange forward contracts for trading or speculation
 purposes.
 
 xi) Leasehold land
 
 On 23 February 2011, the Company, has been allotted 24.71 acres of land
 by Gujarat Industrial Development Corporation (GIDC) on 99 years lease
 for construction of food manufacturing facility and generation of
 employment within the stipulated time periods, on contravention of
 which GIDC would be entitled to terminate the agreement and take back
 such portion of land which has not been developed by the Company.
 
 xi) Previous year figures
 
 Previous year figures have been regrouped/reclassified wherever
 necessary, to conform to current year classification.