1 Corporate Information:
 
 The Company, although only approx two decade old, is today a name to
 reckon with in Trading of Agro/Energy Commodities globally. Emmsons
 Trading basket includes Rice, Wheat, Wheat- flour, Sugar, Maize, Soya
 meal, Rapeseed Meal and Pulses in addition to Coal and Sulphur among
 other things. The strength of the company lies in the fact that it has
 expanded its to all corners of the world. The company has maintained
 long and sustained relationships with its clients across Far-East Asian
 region, Australia, South America, Africa and the Middle East due to its
 quality products and efficient services.
 
 2 Share Capital
 
 The authorized , issued subscribed and fully paid-up share capital
 comprises of equity shares having a par value of Rs. 10 /- each.
 
 3 Note on money received against share warrants:
 
 During previous year ended on 31.03.2011 the company has received Rs.
 2250000 as paid up money @ Rs. 2.50 per equity warrant on allotment of
 900000 equity warrants of Rs. 10/- each issued at premium of Rs 110/-
 each Convertible in to equity share of Rs. 10/- each. The warrant
 holders were given option to exercise the right for conversion of
 warrant into Equity Shares within 18 months from the date of the
 allotment of warrants i.e. within 18 months from 30th August, 2010
 (Date of allotment of warrants) by paying the rest 75% of the issue
 price of warrants (i.e., Rs. 90/- per warrant). However one of the
 allottees of equity warrant holding 50,000 warrants, has not exercised
 his right for conversion of the warrants into shares within the time
 stipulated, which lapsed on 29th February, 2012. Accordingly, as per
 SEBI (ICDR) Regulation, 2009, the aforesaid warrants stand lapsed and
 the consideration paid in respect of such warrants at the time of its
 allotment was forfeited. warrant holder''s holding 850000 equity
 warrants exercised option of conversion of equity warrants in to equity
 share capital.
 
 (a) Packing Credit with Oriental Bank of Commerce-Repayable on
 demand-Secured against hypothecation of Stocks and advances, equitable
 mortgage of Properties and Personal guarantees of Directors
 
 (b) Packing Credit with Indian Overseas Bank- Repayable on
 demand-Secured against hypothecation of Stocks and advances, equitable
 mortgage of Properties and Personal guarantees of Directors
 
 (c) Packing Credit with Bank of Baroda-Repayable on demand-Secured
 against hypothecation of Stocks, equitable mortgage of Properties and
 Personal guarantees of Directors
 
 (d) Packing Credit with Allahabad Bank-Repayable on demand-Secured
 against hypothecation of current assets, equitable mortgage of
 Properties and Personal guarantees of Directors
 
 (e) Buyer''s Credit through Oriental Bank of Commerce-Repayable on
 demand-Secured against hypothecation charge over the goods, equitable
 mortgage of Properties and Personal guarantees of Directors
 
 (f) Buyer''s Credit through Indian Overseas Bank-Repayable on
 demand-Secured against hypothecation charge over the goods, equitable
 mortgage of Properties and Personal guarantees of Directors
 
 (g) Buyer''s Credit through Bank of Baroda-Repayable on demand-Secured
 against hypothecation charge over the goods, equitable mortgage of
 Properties and Personal guarantees of Directors
 
 (h) Buyer''s Credit through Allahabad Bank-Repayable on demand-Secured
 against hypothecation charge over the the goods, equitable mortgage of
 Properties and Personal guarantees of Directors
 
 Note on repayment terms and security of short term borrowings:
 
 (a) HDFC Bank Car Loan A/c No 17259339-Repayble in 36 Monthly
 EMI-Secured against hypothecation of Car
 
 (b) Indian Overseas Bank Corporate loan A/c No 271000002-Repayble in 22
 Quarterly Installments and Interest Payable Monthly-Secured against the
 personal guarantees of Directors
 
 (c) Kotak Mahindra Prime Car Ltd. Loan A/c No. CF6509815-Repayble in 36
 Monthly EMI-Secured against hypothecation of Car
 
 (d) Kotak Mahindra Prime Ltd. Car Loan A/c No CF6677652- Repayable in
 36 Monthly EMI-Secured against hypothecation of Car
 
 (e) Kotak Mahindra Prime Ltd. Car Loan A/c No CF7056360-Repayble in 36
 Monthly EMI-Secured against hypothecation of Car
 
 (f) Kotak Mahindra Prime Ltd. Car Loan A/c No CF7106212-Repayble in 36
 Monthly EMI-Secured against hypothecation of Car
 
 (g) Kotak Mahindra Prime Ltd. Car Loan A/c No CF7569170-Repayble in 36
 Monthly EMI-Secured against hypothecation of Car
 
 (h) Kotak Mahindra Prime Ltd. Car Loan A/c No CF5609590-Repayble in 36
 Monthly EMI-Secured against hypothecation of Car
 
 (i) Kotak Mahindra Prime Ltd. Car loan A/c No CF5609981-Repayble in 36
 Monthly EMI-Secured against hypothecation of Car
 
 (j) Volkswagen Finance Pvt Ltd. Car loan A/c No 20111000714-Repayble in
 36 Monthly EMI-Secured against hypothecation of Car
 
 (ii) Defined Benefit Plan:
 
 The Company offers the gratuity and leave encashment employee benefit
 schemes to its employees.
 
 The following table sets out the funded status of the defined benefit
 schemes and the amount recognized in the financial statements:
 
 (ii-e) Actuarial Assumptions:
 
 Demographic Assumptions:
 
 Mortality: Published rates under Indian assured lives mortality
 (1994-96) (modified) ultimate table.
 
 Indian assured lives mortality (1994-96) (modified) ultimate table are
 used of calculation as on 31.03.2012, 31.03.2011 and 31.03.2012
 
 4 Segment reporting:
 
 Segment reporting as per AS-17 is not applicable to the company as it
 does not have any reportable segment.
 
 5 Related party disclosure
 
 As required by Accounting Standard-18, Related Party Disclosures
 issued by the Institute of Chartered Accountants of India, relevant
 information is provided here below:
 
 (a) Related parties with whom transactions have taken place during the
 year:
 
 6 Earning per share
 
 Basic and diluted earnings per share are calculated by dividing the net
 Profit or loss for the year attributable to equity shareholders by the
 weighted average number of equity shares outstanding during the year.
 The Company has not issued any potential equity shares, accordingly,
 basic, and diluted earning per share are the same.
 
 7 Contingent liabilities and commitments (to the extent not provided
 for)
 
 Particulars                             Current 
                                         year        Previous 
                                                     year
 
 Contingent liabilities
 
 (a) Guarantees to sale tax authorities   590000       590000
 
 (b) Guarantees - Corporate Guarantee
  for credit facility to subsidiary   2543807619   1525404000
 
 (c) Letter of credit issued
     for purchase                        -          742757000
 
 (d)  Other guarantees                 143717504    352363000
 
 (e)  Other money for which the
      Company is contingently liable     -             -
 
 (f) Tax Demand totaling Rs. 8.60 Lacs for Assessment year 2004-2005
 raised by the Income Tax Department is being contested by the Company
 in appeal. No provision has been made for the liability in the accounts
 under report.  Other Tax demand of Rs. 10.11 Lacs For Assessment Year
 2008-2009 raised by Income Tax Department is under rectification for
 apparent error.
 
 (g) The trade receivable includes an amounts of Rs. 43.19 lacs for
 which the company had obtained a decree against State Bank of India and
 Unialchem Fertilizer Limited. State Bank of India filed an appeal
 against the decree in the Supreme court of India. The supreme court has
 now remanded the case back to high court. The management is confident
 of recovering the amount after the disposal of at the case and the
 amount is considered good for recovery.
 
 (h) The company has entered an arbitration suit against the Punjab
 State Warehousing Corporation. The arbitration tribunal has issued its
 award for Rs.890.25 lacs. However, both the parties have filed separate
 applications in the court with requests for setting aside the award.
 The case is still in progress and as such quantification of any
 liability or recovery, if any, is not possible, hence no provision for
 the same has been made. However, the company is fairly confident of its
 position and expects to get a favorable judgment in the case.
 
 (i) The Olympia Spinning & Weaving Mills Ltd. Pakistan had commenced
 arbitration proceeding against Company for recovery of alleged claim on
 account of non supply of cotton. The arbitration tribunal has issued an
 award for USD 607852.00 (Equivalent Rs.271.04 Lacs) against the
 company. Olympia has filed an application of execution of award in
 Delhi High Court. The company has opposed the execution and the case is
 still in progress.
 
 (j) An arbitration award was passed against the company in its case
 against Bunge (London) limited. However the parties have since reached
 amicable agreement on the above arbitration and the matter is fully
 settled .
 
 Note 8 (iii-c) :
 
 Emmsons Grains Limited issued 300000 equity shares @ USD 1/- each to
 Emmsons International Limited on 23rd December, 2011.
 
 9 Micro and small enterprises
 
 Disclosure of Sundry Creditors under current Liabilities is based on
 the information available with the Company regarding the status of the
 suppliers as defined under the Micro, Small and Medium Enterprises
 Development Act, 2006. Amounts due as on 31st March, 2012 to Micro,
 Small and Medium Enterprises on account of principal amount together
 with Interest, aggregate to Rs. Nil. (Previous Year: Rs. NIL).
 
 10 These financial statements have been prepared in the format
 prescribed by the Revised Schedule VI to the Companies Act, 1956.
 Previous years figures have been recast / restated.