i.  Excise Duty on Finished Goods
 
 Excise duty is generally provided on manufacture of goods, which are
 not exempt from the payment of duty. However, since the Companys
 fnished goods are not segregated at the time of production into those
 for sale in domestic markets and those for sale in export markets, the
 Company is unable to determine the exact liability towards excise duty
 on fnished goods. Accordingly, excise duty is provided/paid only at the
 time of clearance of the goods from the factory.
 
 ii.  Leases
 
 The Company has entered into various operating leases for office,
 residential and factory premises. These are generally short-term leases
 and cancelable by serving adequate notice. The minimum amount of lease
 rentals payable on non-cancelable leases is as follows:
 
 - Within a period of one year – Rs. 83.63 Million (Previous Year Rs.
 55.50 Million)
 
 - Period from one year to fve years – Rs. 251.63 Million (Previous Year
 Rs. 97.53 Million)
 
 iii.  Outstanding Commitments
 
 As at September 30, 2010, the Company had the following outstanding
 commitments:
 
 - Bank Guarantees outstanding – Rs. 320.48 Million (Previous Year Rs.
 246 Million)
 
 - Corporate Guarantees outstanding – Rs. 8,137.80 Million (Previous
 Year Rs. 1,981 Million)
 
 - Estimated amount of contracts (net of advances) remaining to be
 executed on capital account and not provided for – Rs. 4,109 Million
 (Previous Year Rs. 1,909 Million)
 
 iv.  Balances appearing under the head sundry creditors, sundry
 debtors, loans and advances and secured loans are subject to
 confrmation, adjustments, if any, on the receipt/reconciliation of such
 accounts.
 
 v.  In terms of accounting standard AS 28 on impairment of assets there
 was no impairment indicators exist as of reporting date as per the
 internal management estimates done and hence no impairment charge is
 recognised during the year under review.
 
 vi.  List of Small Scale Industrial undertakings to whom the Company is
 due to the extent such parties that have been identifed from available
 information as at September 30, 2010
 
 1 Group Engineers, Miraj
 
 2 Inteltech Engineers, Belgaum
 
 3 Kamaxi Engg, Belgaum
 
 4 Kamaxi Sales Corporation, Belgaum
 
 5 Patil Thermoplastics, Laus-Sangli
 
 6 Satish Steel Works, Jalandhar
 
 7 Siddha Engineering, Belgaum
 
 8 Spechem Industries Pvt. Ltd., Chennai
 
 9 Techno Trade Links, Belgaum
 
 10 The Kolhapur Auto Works, Kolhapur
 
 11 Unique Alloys, Belgaum
 
 12 Yashaswi Engineers, Belgaum
 
 vii.  Additional information pursuant to Paragraphs 3 and 4 of Part-II
 of Schedule VI to the Companies Act, 1956
 
 viii.  Related Party Disclosures
 
 Related parties
 
 (A) SUBSIDIARY COMPANIES
 
 i.  Renuka Commodities DMCC, Dubai
 
 ii.  Shree Renuka Biofuels Holdings (FZE), Sharjah
 
 iii. Shree Renuka Agri Ventures Limited
 
 iv.  KBK Chem-Engineering Private Limited
 
 v.  Gokak Sugars Limited
 
 vi.  SRSL Ethanol Limited
 
 vii. Shree Renuka Global Ventures Limited, Mauritius
 
 viii. Monika Realators Private Limited
 
 (B) ASSOCIATE COMPANIES
 
 i.  Khandepar Investments Private Limited
 
 ii.  Shree Renuka Infraprojects Limited
 
 iii. Murkumbi Investments Private Limited
 
 iv.  Shree Renuka Energy Limited
 
 v.  Renuka Energy Resource Holdings (FZE), Sharjah
 
 vi.  Damodar Resource Holdings (FZE), Sharjah
 
 (C) KEY MANAGERIAL PERSONS
 
 i.  Mrs. Vidya Murkumbi
 
 ii.  Mr. Narendra Murkumbi
 
 iii. Mr. Nandan Yalgi
 
 iv.  Mr. Nitin Puranik (till August 30, 2010)
 
 v.  Mr. G.K. Sood (till March 4, 2010)
 
 ix. Amalgamation
 
 a) The Company entered into Scheme of Amalgamation with Godavari
 Biofuel Pvt Ltd. (which is into Manufacture/Production of Bio Chemical
 Products) and Ratnaprabha Sugars Ltd. (which is into Manufacture of
 Sugar) and the appointed date for amalgamation was April 1, 2009. The
 High Court of Karnataka approved the Scheme of Amalgamation with effect
 from the appointed date April 1, 2009. The effective date of this
 Amalgamation is December 10, 2010 and the court order was received on
 November 12, 2010. Consequently, the standalone Audited Statements of
 Shree Renuka Sugars Ltd. as on September 30, 2010 are after giving the
 effect of Amalgamation. Whereas the corresponding figures of previous
 year are of Standalone Company.  At the Board Meeting held on November
 15, 2010, the Board approved Pre-amalgamated Standalone Unaudited
 Results for the Quarter / Year ended on September 30, 2010.
 
 b) Purchase (Absorption) Method of Accounting is used in the Process of
 Amalgamation.
 
 c) The Consideration for Amalgamation: Ratnaprabha Sugars Ltd. – Rs.
 1,510,300 and Godavari Biofuel Pvt. Ltd. – Rs. 17,142,810.
 
 d) The Goodwill arising due to the Amalgamation – Rs. 16,693,110
 (Ratnaprabha Sugars Ltd. – Rs. 10,300 and Godavari Biofuel Pvt. Ltd. –
 Rs. 16,682,810) is being written off 1/5th every year commencing from
 September 30, 2010 for a period of fve years.
 
 xviii. Previous years figures
 
 Previous years figures have been regrouped/rearranged wherever
 considered necessary.