1.  SECURED LOANS
 
 i) (a) Loan from Sugar Development Fund (Government of India) for
 modernisation/ expansion/ co-generation amounting to Rs. 9,608 Lakhs is
 secured by way of a Bank Guarantee from State Bank of India.
 
 i) (b) Working Capital facilities from State Bank of India and
 guarantee given by it in respect of the Sugar Development Fund Loan
 amounting to Rs. 35 Lakhs from Government of India are secured by
 hypothecation of sugar and other stocks, stores, book debts and liquid
 assets and further secured by a second charge over the immovable
 properties of the company (other than Pugalur unit) and a third charge
 on the movable and immovable properties of the Pugalur sugar unit.
 
 ii) (a) The Rupee term loan from HDFC Bank Limited amounting to Rs. 37
 Lakhs is secured by a pari passu first charge by way of hypothecation
 of all the movable plant and machinery and other movable assets both
 present and future situated at Pugalur and Pudukottai and further
 secured by a pari passu first charge on the immovable properties both
 present and future situated at Pugalur and Pudukottai.
 
 (ii) (b) The Rupee term loans from State Bank of India amounting to Rs.
 2,400 Lakhs are
 secured by a pari passu first charge by way of hypothecation of all the
 movable plant and machinery and other movable assets both present and
 future situated at Nellikuppam, Pugalur, Pettavaittalai, Pudukottai,
 Thyagavalli and Ariyur and further secured by a pari passu first charge
 on the immovable properties situated at these places except Ariyur and
 a second charge on current assets.
 
 (ii) (c) The Rupee term loan from State Bank of India amounting to Rs.
 2,250 Lakhs is secured by a second charge on the residual value of the
 Companys fixed assets by way of hypothecation of all the movable plant
 and machinery and other movable assets both present and future situated
 at Nellikuppam, Pettavaittalai, Pudukottai, Thyagavalli and Ariyur and
 further secured by a second charge on the immovable properties situated
 at these places except Ariyur and by a third charge on Pugalur fixed
 assets.
 
 (ii) (d) The Rupee term loan from Canara Bank amounting to Rs. 2,500
 Lakhs is secured by a pari passu first charge by way of hypothecation
 of all the movable plant and machinery and other movable assets both
 present and future situated at Nellikuppam, Pugalur, Pettavaittalai,
 Pudukottai, Thyagavalli and Ariyur and further secured by a pari passu
 first charge on the immovable properties situated at these places
 except Ariyur.
 
 (ii) (e) The Rupee term loans from State Bank of India amounting to Rs.
 4,129 Lakhs are secured by a pari passu first charge by way of
 hypothecation of all the movable plant and machinery and other movable
 assets both present and future situated at Nellikuppam, Pugalur,
 Pettavaittalai, Pudukottai, Thyagavalli and Ariyur and further secured
 by a pari passu first charge on the immovable properties situated at
 these places except Ariyur and a second charge on current assets.
 
 (ii) (f) The Rupee term loan from IndusInd Bank Limited amounting to
 Rs. 5,000 Lakhs is secured by a pari passu first charge by way of
 hypothecation of all the movable plant and machinery and other movable
 assets both present and future situated
 
 at Nellikuppam, Pugalur, Pettavaittalai, Pudukottai, Thyagavalli and
 Ariyur and to be further secured by a pari passu first charge on the
 immovable properties situated at these places.
 
 (iii) 500 - 8.65% Secured Redeemable Non- convertible Debentures
 aggregating to Rs. 5,000 Lakhs are secured by a pari passu first charge
 by way of a registered mortgage deed on the Companys immovable
 properties/ fixed assets both present and future situated at Pugalur
 and further secured by a pari passu first charge on the immovable
 properties situated at Nellikuppam, Pugalur, Pudukottai, and
 Thyagavalli. Debentures are redeemable in full at par, in 2013.
 
 (iv) 400 - 9.40% Secured Redeemable Non- convertible Debentures
 aggregating to Rs. 4,000 Lakhs are secured/to be secured by a pari
 passu first charge by way of a registered mortgage deed on the
 Companys immovable properties/fixed assets both present and future
 situated at Pettavaithalai and to be further secured by a pari passu
 first charge on the immovable properties situated at Nellikuppam,
 Pugalur, Pudukottai and Thyagavalli. Debentures are redeemable in full
 at par, in 2014.
 
 2 (a) The company has entered into a Share Purchase agreement with GMR
 Holdings Private Limited for acquisition of shares upto 65% in GMR
 Industries Limited (currently known as Parrys Sugar Industries
 Limited), Karnataka.
 
 Accordingly, the company has made an open offer to the Shareholders of
 Parrys Sugar Industries Limited under SEBI (Substantial Acquistion of
 Shares and Takeovers) Regulations, 1997 and acquired 1,29,75,110 equity
 shares of Rs. 10/ each representing 65% of the Paid-up Share Capital of
 Parrys Sugar Industries Limited for Rs. 8475 Lakhs. Consequently,
 Parrys Sugar Industries Limited (PSIL) became a subsidiary of the
 company effective from 27th August, 2010.
 
 The company has also acquired 1,28,31,880, 8% Non-cumulative Redeemable
 Preference Shares of Rs. 11 each of GMR Industries Limited (currently
 known as Parrys Sugar Industries Limited) for Rs. 1,412 Lakhs.
 
 (b) Coromandel Bathware Limited, a subsidiary company, has been
 dissolved on 29th January, 2011 under Section 560 of the Companies Act
 under Easy Exit Scheme, 2011. The provision for diminution of
 investments made in the earlier year has been fully written off during
 the year.
 
                                                    2010-11     2009-10
                                                  Rs. Lakhs   Rs. Lakhs
 
 3.  Other monies for which the Company is 
     contingently liable:
 
 (a) Letters of Credit and Bank Guarantees 
     established for Purchases of                      5741      28674 
     Raw Materials, Spares and Capital Goods
 
 (b) Income Tax demands contested for which 
     no Provision has been made                        3404       3326
 
 (c) Claims against the Company for Sales Tax, 
     Excise Duty and others                            6073       1378 
     including Industrial Disputes not acknowledged 
     as Debt and not provided for.
 
 (d) Certain Industrial Disputes are pending before 
     Tribunal / High Courts.  The liability of the 
     Company in respect of these disputes depends 
     upon the final outcome of such cases and the 
     quantum of which is not currently ascertainable.
 
 (e) The Statutory Minimum Price of sugar cane for 
     the sugar year                                      826       826
     2002-03 notified on December 12, 2002 at Rs. 
     645/MT was increased to Rs. 695/MT on January 
     9, 2003. Since the increase was arbitrary the
     same was legally challenged by the South Indian 
     Sugar Mills Association (of which the company is 
     a member) and the matter is pending before the
     Honble Supreme Court of India. Based on legal 
     advice, pending disposal of cases, no provision 
     has been considered in the Accounts.
 
 (f) The company had an opening export obligation of 
     22,641 MT arising out of raw sugar imported against 
     Advance licences in earlier years. The company has 
     fulfilled the export obligation of 22,641 MT during 
     the year 2010-11. There is no balance export 
     obligations as on March 31, 2011.
 
 4.  There are no dues to enterprises as defined under Micro, Small and
 Medium Enterprises Development Act, 2006, which are outstanding for
 more than 45 days as at March 31, 2011 which is on the basis of such
 parties having been identified by the management.
 
 5.  Provision others includes amount in respect of contractual
 obligations relating to certain business divested by the company.
 
 6. Particulars
 
 (iii) Derivative transactions
 
 (b) All the foreign exchange forward contracts are designated as cash
 flow hedges.
 
 (c) Foreign exchange currency exposures not covered by derivative
 instruments as at March 31, 2011 - Nil
 
 7. (a) The following table sets forth the status of the Gratuity Plan
 of the Company and the amount recognised in the Balance Sheet and
 Profit and Loss Account.
 
 In the absence of detailed information regarding Plan assets which is
 funded with Life Insurance Corporation of India, the composition of
 each major category of plan assets, the percentage or amount for each
 category to the fair value of plan assets has not been disclosed. The
 details of experience adjustments arising on account of plan assets and
 liabilities as required by paragraph 120(n)(ii) of AS 15 (Revised) on
 “Employee Benefits” are not readily available in the valuation report
 and hence, are not furnished.  
 
 Note on Provident Fund:
 
 With respect to the Provident Fund Trust administered by the company,
 the company shall make good deficiency, if any, in the interest rate
 declared by Trust over statutory limit. Having regard to the assets of
 the Fund and the return on the investments, the Company does not expect
 any deficiency in the foreseeable future.
 
 8. (a) Total Excise Duty on Sales for the year has been disclosed as
 reduction from the turnover. Excise duty related to the difference
 between the closing stock and opening stock has been included in
 Schedule 16 “Other Costs”.
 
 9. Employee stock option Plan – ESOP 2007
 
 a) Pursuant to the decision of the shareholders, at their meeting held
 on July 26, 2007, the Company has established an Employee Stock Option
 Scheme 2007 (ESOP 2007 or the Scheme) to be administered by the
 Compensation and Nomination Committee of the Board of Directors.
 
 b) Under the Scheme, options not exceeding 89,24,850 (consequent to
 Sub-division of equity shares with effect from 24th December, 2010)
 (Prior to Sub-division - 44,62,425) have been reserved to be issued to
 the eligible employees, with each option conferring a right upon the
 employee to apply for one equity share. The options granted under the
 Scheme would vest not less than one year and not more than five years
 from the date of grant of the options. The options granted to the
 employees would be capable of being exercised within a period of three
 years from the date of vesting.
 
 c) The exercise price of the option is equal to the latest available
 closing market price of the shares on the stock exchange where there is
 highest trading volume as on the date prior to the date of the
 Compensation and Nomination Committee resolution approving the grant.
 
 d) Pursuant to the above mentioned scheme, on the recommendation of the
 Compensation and Nomination Committee the Company has, upto 31st March
 2011, granted 37,48,100 options (face value of Re. 1 each) normally
 vesting over a period of four years commencing from the respective
 dates of grant. The exercise price being equal to the closing market
 price prevailing on the date prior to the date of grant, there is no
 deferred compensation cost to be amortised in this regard. The company
 has granted 3,66,300 stock options during the year 2010-11.
 
 e) Effective from 24th December 2010, the company has subdivided the
 nominal value of equity shares from Rs. 2 per share to Re. 1 per share.
 Consequently, the previous years options granted have been restated for
 disclosure.
 
 Inter segment Transfer Pricing:
 
 Inter Segment prices are normally negotiated amongst the segments with
 reference to cost, market prices and business risks, within an overall
 optimisation objective for the enterprise.
 
 10. Earnings Per share:
 
 Effective from 24th December 2010, the company has subdivided the
 nominal value of equity shares from Rs. 2 per share to Re.1 per share.
 Effect of this has been given in the Earnings Per Share computation.
 
 11. Related Party Disclosure for the year ended 31st march, 2011
 
 11.1.subsidiary company/Entities
 
 1.  Coromandel International Ltd.
 
 2.  Parry Chemicals Ltd.
 
 3.  CFL Mauritius Limited
 
 4.  Coromandel Brasil Limitada – Partnership
 
 5.  Parrys Sugar Industries Ltd. (Formerly known as GMR Industries
     Ltd.)
 
 6.  Alagawadi Bireshwar Sugars Private Limited
 
 7.  Sadashiva Sugars Ltd.
 
 8.  Parry America Inc.,
 
 9.  Parrys Investments Limited
 
 10. Parrys Sugar Limited
 
 11. Parry Infrastructure Company Private Limited
 
 12. Parry Phytoremedies Private Limited
 
 13. US Nutraceuticals LLC
 
 14. Parry Agrochem Exports Limited Joint Venture company
 
 1.  Silkroad Sugar Private Limited
 
 11.2. Key management Personnel (KMP)
 
 Mr. K. Raghunandan, Managing Director (upto 28th January, 2011)
 
 Mr. Ravindra S. Singhvi, Managing Director (From 29th January, 2011)
 
 Note : Related Party Relationships are as identified by the management
 and relied upon by the auditors.
 
 12. Previous years figures have been regrouped/reclassified to conform
 to Current years classification.