1 Corporate information
 
 Sakuma Exports Limited(Government of India recognised Trading House) is
 a public limited company domciled in India and incorporated under the
 provisions of Companies Act 1956. Its shares are listed on two stock
 exchange in India.The company is engaged in exports of commodities like
 Sugar, Rice, Maize, Sesame Seeds,Ground Nuts,Pulses,Oil Meal etc. The
 company caters to both domestic and international markets.
 
 2.1 Basis of accounting and preparation of financial statements
 
 The financial statements of the Company have been prepared in
 accordance with the Generally Accepted Accounting Principles in India
 (Indian GAAP) to comply with the Accounting Standards notified under
 the Companies (Accounting Standards) Rules, 2006 (as amended) and the
 relevant provisions of the Companies Act, 1956. The financial
 statements have been prepared on accrual basis under the historical
 cost convention for categories of fixed assets. The accounting policies
 adopted in the preparation of the financial statements are consistent
 with those followed in the previous year except for those stated below
 
 3.1 contingent liabilities and commitments (to the extent not provided
 for)
 
 Particulars                              As at              As at
                                    31st March, 2012    31st March, 2011
 
 (i) contingent liabilities
 
 (a) Claims against the Company
     not acknowledged as 
     debt with respect to
 
 i)  Sugar Import Consignment 
     pertaining to year 2009-10      USD 11,23,425 &      USD 11,23,425
 
                                     60,43,987/- and     &  60,43,987/-
                                        Interest @8%   and Interest @8%
 
 ii)  Quality issue of 
      Goods Supplied                       1,587,450          1,587,450
 
 iii) Stop Payment of Cheque               1,368,260          1,368,260
 
 b)   Disputed Income tax Demands 
      for Ay 2002-03, 2003-04, 
      2009-10                              1,985,242         79,192,722
 
 (ii) commitments #
  
      Other commitments
 
 i)   Share Subscription Money 
      payable for GKM General 
      Trading LLC                         AED 117600               -
 
 ii)  Outstanding Currency 
 Forward Contracts                   USD 4,39,73,000      USD 37,86,000
 
 
 
 3.2 Disclosures required under Section 22 of the Micro, Small and
 Medium enterprises Development Act, 2006
 
 In the absence of information regarding vendors covered under Micro,
 Small and Medium Enterprises Development Act, 2006 disclosures relating
 to amounts unpaid at the year end together with interest paid/payable
 under this act has not been given
 
 3.3 Details on derivatives instruments and unhedged foreign currency
 exposures
 
 The following derivative positions are open as at 31 March, 2012. These
 transactions have been undertaken to act as economic hedges for the
 Company''s exposures to various risks in foreign exchange markets and
 may / may not qualify or be designated as hedging instruments. The
 accounting for these transactions is stated in Notes 2.8, 2.18 and
 2.19.
 
 (a) Forward exchange contracts which are not intended for trading or
 speculative purposes but for hedge purposes to establish the amount of
 reporting currency required or available at the settlement date of for
 receivables.
 
 (i) Outstanding forward exchange contracts entered into by the Company
 as on 31 March, 2012
 
 4 EMPLOYEE Benefit PLANS
 
 4.1 Defined contribution plans
 
 The Company makes Provident Fund contributions to defined contribution
 plans for qualifying employees. Under the Schemes, the Company is
 required to contribute a specified percentage of the payroll costs to
 fund the benefits. The Company recognised Rs. 2,45,676/ — (Year ended
 31 March, 2011 Rs. 93,131) for Provident Fund contributions in the
 Statement of Profit and Loss. The contributions payable to these plans
 by the Company are at rates specified in the rules of the schemes.
 
 4.2 Segment information
 
 The Company has identified business segments as its primary segment and
 geographic segments as its secondary segment.  Business segments are
 primarily Trading in Commodities and Windmill Operation. As windmill
 opearation is not meeting any of the criteria. Hence worth, we are not
 providing the primary segment information.
 
 Note: The geographic bifurcation of the Company''s revenues and
 segment assets are as Under:
 
 Note: Figures in bracket relates to the previous year
 
 The Company has recognised deferred tax asset on unabsorbed
 depreciation to the extent of the corresponding deferred tax liability
 on the difference between the book balance and the written down value
 of fixed assets under Income Tax (or) The Company has recognised
 deferred tax asset on unabsorbed depreciation and brought forward
 business losses based on the Management''s estimates of future profits
 considering the non-cancellable customer orders received by the
 Company.
 
 5 The Revised Schedule VI has become effective from 1 April, 2011 for
 the preparation of financial statements. This has significantly
 impacted the disclosure and presentation made in the financial
 statements. Previous year''s figures have been regrouped /
 reclassified wherever necessary to correspond with the current year as
 classification / disclosure.