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Cadbury India
BSE: 500793|NSE: CADBURY|ISIN: INE184A01014|SECTOR: Food Processing
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Cadbury India is not traded in the last 30 days
Cadbury India is not traded in the last 30 days
Explore Cadbury connections « Dec 08
Notes to Accounts Year End : Dec '09
1.  Contingent Liabilities:
 
 Disputed claims in respect of:                 2009         2008
 
                                            Rs. Lacs     Rs. Lacs
 
 Excise Duty and Service Tax                5,411.12     2,196.23
 
 Sales Tax                                  4,674.27     3,211.17
 
 Income Tax                                 1,235.63     1,235.63
 
 Entry Tax                                     25.70        21.36
 
 Miscellaneous                                691.78       687.47
 
 Total                                     12,038.50     7,351.86
 
 2.  Estimated amount of Contracts remaining to be executed on capital
 account and not provided for (net of advances) Rs.3,058.10 Lacs
 (previous year Rs. 4,022.42 Lacs).
 
 3.  The Company is engaged in the food business, which in the context
 of Accounting Standard 17 is considered to be its only business
 segment. The geographical segmentation is insignificant, as exports are
 less than 1% of the Companys turnover.
 
 4.  Related Party Disclosure:
 
 i.  Names and relationships of related parties
 
 a.  Holding Companies:
 
 Cadbury Schweppes Overseas Ltd. holds 58.62% (P.Y. 56.59%) equity
 shares and Cadbury Mauritius Ltd. holds 38.96% (P.Y.41.02 %) equity
 shares in the Company; the ultimate holding company being Cadbury PLC.
 
 b.  Fellow Subsidiary Companies / Entities:
 
 1.  Cadbury International Limited
 
 2.  Cadbury Adams Middle East SAL
 
 3.  Cadbury Australia Limited
 
 4.  Cadbury Ghana Limited
 
 5.  Cadbury Confectionery Malaysia Sdn. Bhd.
 
 6.  Cadbury Pakistan Limited
 
 7.  Cadbury Schweppes Asia Pacific Pte. Ltd.
 
 8.  Cadbury UK
 
 9.  Cadbury Adams US LLC 
 
 lO.Cadbury Enterprises Pte Ltd.
 
 11. Adams MeCCa Holdings B.V.  
 
 12.Cadbury Holdings Ltd.
 
 13.CS Business Service (India) Pvt. Ltd.  
 
 14.Cadbury Foods Co Ltd.China
 
 15.Cadbury Adams Canada Inc.  
 
 16.Cadbury Adams (Philippines) Inc.
 
 17.Cadbury Adams (Thailand) Limited 
 
 18.Reading Scientific Services Limited 
 
 19.Cadbury Four Seas
 
 c.  Subsidiary Company: Induri Farm Limited.
 
 d.  Key Management Personnel:
 
 Mr. Anand Kripalu        Managing Director
 
 Mr. Jaiboy Phillips      Director
 
 Mr. Sanjay Purohit       Director
 
 Mr. Chandramouli V       Director
 
 Mr. Sunil Sethi          Director
 
 Mr. Atul Bhatia          Director
 
 Mr. Rajesh Garg          Director
 
 5.  Lease payments recognised in the Profit and Loss account for the
 year are Rs. 852.93 Lacs (Previous year Rs. 631.74 Lacs).
 
 6.  Derivative Instruments:
 
 a) Hedged:
 
 The Company uses forward exchange contracts to hedge its exposure in
 foreign currency. There are no contracts entered into with the
 objective of trading or speculation.
 
 # The details of investment are not available with the Company.  Note:
 Shaded portion indicates the previous year figures.
 
 * The overall expected rate of return is a weighted average of the
 expected returns of the various categories of plan assets held. The
 assessment of the expected return is based on historical return trends
 and analysts predictions of the market for the asset in the next
 twelve months.
 
 In assessing the Companys Post Employment Liabilities the Company
 monitors mortality assumptions and uses up-to-date mortality tables.
 The base being the LIC 1994-96 ultimate tables.
 
 The Company operates a funded gratuity plan for qualifying employees.
 Under the plan, the employees are entitled to gratuity benefits based
 on final salary at retirement. The Company makes a provision in the
 books based on third party actuarial valuations.
 
 The Company operates a funded superannuation plan for qualifying
 employees. Under the plan, the Company and the employees are required
 to make contributions, based on the basic salary and specified
 allowances, which are payable on retirement or upon meeting the
 required criteria.
 
 The Company operates a funded provident fund for its employees. In
 accordance with the plan, the Company and the employees are required to
 make contributions, based on the basic salary, which are payable on
 retirement or upon meeting the required criteria. During the year the
 Company made contribution to the Provident Fund to the tune of Rs
 543.91 Lacs (Previous Year Rs 489.86 Lacs). The Company has an
 obligation, per the trust deed, to make good the shortfall, if any,
 between the return from the investments from the provident fund and the
 notified interest rate and recognizes such an obligation based on
 actuarial valuations being carried out by third party actuaries at each
 balance sheet date.Aone percentage point change in assumed healthcare
 cost trend rates would have the following effects on the aggregate of
 the service and interest cost and defined benefit obligation in
 relation to the post retirement medical benefit plan :
 
 Notes :
 
 (a) Installed capacity is as certified by the Management of the Company
 and accepted by the Auditors as this is a technical matter.
 
 (b) Under the Liberalized Industrial Policy of the Government, vide
 notification No. S-0-477(E) Dated 25th July, 1991, the Companys
 products are exempted from licensing provisions under the Industries
 (Development Regulation) Act, 1951.
 
 (c) Figures do not include Cocoa Powder produced for captive
 consumption in other products.
 
 (d) The products are manufactured in an integrated plant and hence
 installed capacity cannot be given.
 
 (e) The production data as listed above includes production by Third
 party operators.
 
 7.  Kraft Takeover
 
 The board of Cadbury PIc (the ultimate holding company of Cadbury India
 Limited) unanimously recommended Cadbury Pic shareholders, to accept
 the terms of the Final offer made by Kraft Foods, Inc., to acquire the
 entire share capital of Cadbury PIc. The offer was accepted by majority
 of the shareholders of Cadbury PIc on February 2, 2010. Accordingly,
 Kraft Foods, Inc., would become the ultimate holding company of Cadbury
 India Limited when the transaction is completed.
 
 8.  Reduction of Share Capital
 
 The Board of Directors of the Company at the meeting held on October
 16, 2009 passed a special resolution under section 100 of the Companies
 Act, 1956 to reduce the share capital of the company.
 
 The requisite majority of the shareholders have passed a special
 resolution approving the reduction of the share capital at the
 Extraordinary General Meeting held on November 16, 2009.
 
 A petition has, accordingly, been filed in the High Court of Mumbai to
 approve the reduction of share capital.
 
 9.  Amounts of the previous year are regrouped and reclassified
 wherever necessary to correspond to amounts of the current financial
 year.
Source : Dion Global Solutions Limited
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