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Ruchi Soya Industries
BSE: 500368|NSE: RUCHISOYA|ISIN: INE619A01027|SECTOR: Edible Oils & Solvent Extraction
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Notes to Accounts Year End : Mar '13
A.  GENERAL INFORMATION
 
 Ruchi Soya Industries Limited (''the Company'') is a Public Limited
 Company engaged primarily in the business of processing of oil-seeds
 and refining of crude oil for edible use.  The Company also produces
 oil meal, food products from soya and value added products from
 downstream and upstream processing. The Company is also engaged in
 trading in various products. The Company has manufacturing plants
 across India and is listed on the Bombay Stock Exchange Limited (BSE)
 and National Stock Exchange of India Limited (NSE) .
 
 1 Segment related information:
 
 (a) Segment information required to be disclosed in accordance with
 Accounting Standard 17 (AS-17) relating to ''Segment Reporting'' is given
 in Para (f) below.
 
 (b) The Company has disclosed business segments as the primary
 segments. Segments have been identified taking into account the type of
 products, the differing risks and returns and the internal reporting
 system. The various segments identified by the Company comprise as
 under:
 
 Extractions Various types of seed extractions
 
 Vanaspati Vanaspati, Bakery fats and Table spread
 
 Oils Crude oils, refined oils
 
 Food Products Textured Soya protein, Soya flour, Fruit Juice and soya
 Milk
 
 Wind Power Generation Electricity Generation from Wind Mills
 
 Others Gram, Wheat, Rice, Maize, Corn, Seeds, Coffee, Marine
 
 Products, Tuar, Peas, Barley, Soap, Fresh Fruit Bunch, seedling, Plant
 and Equipment , Cotton Bales, Toiletry preparations and Cotton seed oil
 cake.
 
 By products related to each segment have been included under the
 respective segment.
 
 (c) Extraction is considered as the primary product resulting from the
 solvent extraction process and crude oil as the secondary product.
 While computing segment results, all costs related to solvent
 extraction process are charged to the extraction segment and recovery
 on account of crude oil is credited to the said segment. Credit for
 recovery of crude oil is taken on the basis of average monthly market
 price.
 
 (d) The Company has disclosed geographical segments as the secondary
 segment. Secondary segments comprise of domestic market & exports.
 
 (e) Segment revenue, segment results, segment assets and segment
 liabilities include respective amounts directly identified with the
 segment and also an allocation on reasonable basis of amounts not
 directly identified. The expenses which are not directly relatable to
 the business segments are shown as unallocated cost. Assets and
 liabilities that can not be allocated between the business segments are
 shown as unallocated assets and liabilities respectively.
 
 2 Disclosure of transactions with related parties as required by
 Accounting Standard 18 (AS-18), relating to Related Party Disclosure
 has been given in (iv) below. Related parties as defined under clause 3
 of the Accounting Standard have been identified on the basis of
 representation made by key managerial personnel and information
 available with the Company.
 
 Related party relationships
 
 i).  Parties where control exists
 
 Ruchi Worldwide Limited (Subsidiary)
 
 Mrig Trading Private Limited (Subsidiary)
 
 Gemini Edibles & Fats India Private Limited (Subsidiary)
 
 Ruchi Industries Pte. Limited, Singapore (Subsidiary)
 
 Ruchi Ethiopia Holdings Limited, Dubai (Subsidiary)
 
 Ruchi Agri Plantation (Combodia) Pte. Limited (Step-down subsidiary)
 
 Ruchi Agri Trading Pte. Limited, Singapore (Step-down subsidiary)
 
 Ruchi Agri SARL (Madgasker) (Step-down subsidiary)
 
 Ruchi Agri PLC (Step-down subsidiary)
 
 Palmolien Industries Pte. Ltd (Combodia) (Step-down subsidiary) (with
 effect from December 19, 2012)
 
 GHI Energy Private Limited (Associate)
 
 Ruchi Green Energy Private Limited (Associate) (Discontinued with
 effect from March 20, 2013)
 
 Indian Oil Ruchi Bio Fuels, Limited Liability Partnership
 
 Ruchi Infrastructure Limited
 
 ii) Key Management Personnel & their relatives
 
 Mr. Dinesh Shahra, Managing Director
 
 Mr. Kailash Shahra, Brother of Managing Director
 
 Mr. Suresh Shahra, Brother of Managing Director
 
 Mr. Santosh Shahra, Brother of Managing Director
 
 Mrs. Abha Devi Shahra, Wife of Managing Director
 
 Mr. Sarvesh Shahra, Son of Managing Director
 
 Ms. Amrita Shahra, Daughter of Managing Director
 
 Mr. Ankesh Shahra, Son of Managing Director
 
 Ms. Amisha Shahra, Daughter of Managing Director
 
 Mrs. Geeta Devi Koolwal (Sister of Managing Director)
 
 Mrs. Vashu Devi Jhalani (Sister of Managing Director)
 
 Mrs. Vidya devi Khandelwal (Sister of Managing Director)
 
 Mr. Ashutosh B Rao, Whole-time Director
 
 Mr. Vijay Kumar Jain, Whole-time Director
 
 iii) Entites where Key Management Personnel or relatives of Key
 Management Personnel have significant influence.
 
 Aaradhya Buildtech Private Limited
 
 Alison Builders & Construction Private Limited
 
 Ankesh Resorts & Hotels Private Limited
 
 Aparaa Biuldtech Private Limited
 
 Arav Construction & Developers Private Limited
 
 Archer Construction & Builders Private Limited
 
 Aseem Infracon Private Limited
 
 Avid Constructions Private Limited
 
 Bright Star Housing Private Limited
 
 Deepti Housing Private Limited
 
 Deepti Properties Private Limited
 
 Delite Ventures Private Limited
 
 Great Eastern Infrastructure Corporation Private Ltd.
 
 High Tech Realties Private Limited
 
 I Farm Equity Advisors Private Limited
 
 I Farm Venture Advisors Private Limited
 
 Indivar Wellness Private Limited
 
 Mahadeo Shahra Sukrut Trust
 
 Mahakosh Amusement Private Limited
 
 Mahadeo Shahra & Sons
 
 Mangalore Liquid Impex Private Limited
 
 Mahakosh Holdings Private Limited
 
 Navaagat Infratech Private Limited
 
 Navodit Infracon Private Limited
 
 Neha Resorts & Hotels Private Limited
 
 Neha Securities Private Limited
 
 Nibodh Infradevelopers Private Limited
 
 Nirvana Housing Private Limited
 
 Nischit Intratech Private Limited
 
 RSIL Benificiary Trust
 
 Ruchi Marketrade Private Limited
 
 Ruchi Bio-fuels Private Limited
 
 Ruchi Corporation Limited
 
 Ruchi Multitrade Private Limited
 
 Ruchi Realty Private Limited
 
 Sadashay Construction Private Limited
 
 Saharsh Brokers Private Limited
 
 Sakushal Buildtech Private Limited
 
 Sanchit Buildtech Private Limited
 
 Shahra Brothers Private Limited
 
 Shahra Estate Private Limited
 
 Shalin Infratech Private Limited
 
 Sharsha Infracon construction and Developers Private Limited
 
 Shiva Foundation (Trust)
 
 Soyumm Marketing Private Limited
 
 Spectra Realties Private Limited
 
 Suramya Infratech Private Limited
 
 Vishal Warehousing Private Limited
 
 3 DISCLOSURES PURSUANT TO CLAUSE 32 OF THE LISTING AGREEMENT
 
 (a) Loans & Advance in the nature of Loans to Subsidiaries : NIL
 
 (b) Loans & Advance in the nature of Loans to Associates
 
 (c) Loans and advances in the nature of loans where there is :
 
 i) No repayment schedule or repayment beyond seven years or : NIL
 
 ii) No interest or interest below Section 372 A of The Companies Act,
 1956.  : NIL
 
 (d) Loans and Advances in the nature of loans to Firms/Companies in
 which directors are interested by name and amount
 
 (e) Investment by the loanee in the shares of the Company, when the
 Company has made a loan or advance in the nature of loan - NIL
 
 4 DISCLOSURE ON DERIVATIVE INSTRUMENTS
 
 I. The Company has entered into the following derivative instruments:
 
 The Company uses foreign currency/forward contracts to hedge its risks
 associated with foreign currency fluctuations relating to certain firm
 commitments and forecasted transactions. The Company does not use
 forward contracts for speculative purposes.
 
 A) The following are the outstanding Forward Exchange Contacts entered
 into by the Company as on March 31, 2013
 
 5 The Company has exercised the option provided under paragraph 46A of
 AS 11: The Effects of Changes in Foreign Exchange Rates inserted vide
 Notification dated December 29, 2011. Consequently, the exchange
 differences on long term foreign currency monetary items are dealt with
 in the following manner:
 
 The exchange difference to the extent it relates to acquisition of
 depreciable asset, is adjusted to the cost of the depreciable asset,
 and depreciated over the balance life of the asset.
 
 In other cases, the exchange difference is accumulated in a Foreign
 Currency Monetary Item Translation Difference Account, and amortised
 over the balance period of such long term asset/ liability.
 
 (a) Accordingly , the Company has adjusted exchange loss of Rs.
 2,966.03 lac (Previous year: Rs. 5,367.95 lac) in respect of long term
 foreign currency monetary items relating to acquisition of depreciable
 fixed assets to the cost of fixed assets and
 
 (b) Amortised exchange loss relating to long term foreign currency
 monetary item in other cases over the life of the long term liability
 and included Rs. 610.57 lac (Previous year Rs. 514.06 lac) being the
 unamortised portion in Foreign Currency Monetary ItemTransaction
 Account (Refer Note 2 J)
 
 6 The Ministry of Corporate Affairs, Government of India, vide General
 Circular No. 2 and 3 dated 8th February 2011 and 21st February 2011
 respectively has granted a general exemption from compliance with
 section 212 of the Companies Act, 1956, subject to fulfillment of
 conditions stipulated in the circular. The Company has satisfied the
 conditions stipulated in the circular and hence is entitled to the
 exemption. Necessary information relating to the subsidiaries has been
 included in the Consolidated Financial Statements.
 
 7 Previous Year Figures:
 
 The figures for the previous year have been regrouped wherever
 necessary to conform to current years classification.
Source : Dion Global Solutions Limited
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