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Suven Life Sciences
BSE: 530239|NSE: SUVEN|ISIN: INE495B01038|SECTOR: Pharmaceuticals
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Notes to Accounts Year End : Mar '13
NOTE 1: CORPORATE INFORMATION
 
 Suven Life Sciences, in the business of design, manufacture and supply
 of Bulk Actives, Drug Intermediates & Fine Chemicals, Drug Discovery
 and Development Support Services (DDDSS) and CRAMS catering to the
 needs of global Life Science Industry, is committed to provide
 customers with products fulfilling customer''s needs and expectations.
 During the year ended 31st March, 2012 M/s. Suven Nishtaa Pharma Pvt.
 Ltd. was acquired by M/s. Suven Life Sciences Ltd. Subsequent to the
 acquisition of M/s. Suven Nishtaa Pharma Pvt. Ltd. were amalgamated
 with M/s. Suven Life Sciences Ltd., in accordance with the scheme of
 amalgamation approved by the High court is effective from 1st Jan,
 2012. The amalgamation was effected in the accounts for the year ended
 31st March, 2012.
 
 2.1 Contingent Liabilities
 
                                    (Rs. in lakhs)
 
 Particulars                     For the year 
                                 ended           For the year 
                                                 ended
                                 31st March
                                 2013            31st March 2012
 
 Un expired Letters of Credit       550.58           358.71
 
 Income tax appeal for 
 Asst.year 2010-11                   86.98             0.00
 
 2.2 Capital commitments not provided for on account of capital works
 net of advance Rs. 278.39 lakhs (Previous year Rs. 225.19 lakhs)
 
 2.3 During the year Unclaimed Dividend pertaining to 2004-05 amounting
 to Rs. 1.40 Lakhs has been transferred to Investor Education and
 Protection Fund. There are no amounts due and outstanding to be
 credited to the Investor Education and Protection Fund as of 31st March
 2013 (Previous year Nil)
 
 2.4 Based on information available with the company, no creditors have
 been identified as Micro and Small enterprises with in the meaning of
 Micro, Small and Medium enterprises development (MSMED) Act, 2006.
 
 2.5 National Savings Certificates to the extent of Rs. 3,000/- have been
 pledged with Government Authorities.
 
 2.6 Employee Stock Option Scheme
 
 The Company instituted the Employees Stock Option 2004 plan for all
 eligible employees. The Scheme covers all eligible employees of Suven
 Life Sciences Limited and its subsidiary.
 
 2.7 Excise Duty amounting to Rs. 26.18 lakhs on Closing Stock of
 finished goods has been provided during the year to comply with
 ''Guidance Note on Accounting treatment for Excise duty'' issued by
 Institute of Chartered Accountants of India.
 
 2.8 Hedging and Derivatives
 
 Company has entered into Forward Exchange contract, being derivative
 instruments for hedging purpose and not intended for trading or
 speculation purposes, to establish the amount of currency in Indian
 Rupees required or available at the settlement date of certain payables
 and receivables. The following are the outstanding Forward Exchange
 Contracts as on 31st March 2013, entered into by the Company;
 
 NOTE 3: SEGMENT REPORTING
 
 A) PRIMARY SEGMENT :
 
 Business Segment
 
 Segments have been identified and reported taking into account the
 nature of products, the differing risk and returns,the organisation
 structure,and the internal financial reporting scheme.The company has
 identified the following segments as its reportable segments:
 
 a) Manufacturing (CRAMS)
 
 b) Services (DDDSS)
 
 c) Research and Development
 
 I.  Manufacturing (CRAMS) - Bulk Drugs & Intermediates under contract
 services products are developed and produced on an exclusive basis
 under contract Manufacturing services
 
 II.  Services (DDDSS) - Which consists of Clinical Trials and Testing
 and Analysis services
 
 B) SECONDARY SEGMENT : Geographical Segment
 
 The Company has identified the following geographical reportable
 segments:
 
 a) India-The company sells Bulk Drugs and Intermedites and Fine
 Chemicals.
 
 b) U.S.A -The company sells Intermediates
 
 c) Europe-The company sells Bulk Drugs and Intermedites
 
 d) Others -The company sells Bulk Drugs and Intermedites
 
 NOTE 10: RELATED PARTY DISCLOSURES
 
 List of and relationship with related parties with whom transactions
 have taken place during the year : Key Managerial Personnel : Mr.
 Venkateswarlu Jasti (Chairman & CEO)
 
 Mrs. Sudha Rani Jasti (Whole-time Director)
 
 Relative of key managerial persons : Ms. Kalyani Jasti (Daughter of
 Mr.Venkateswarlu Jasti)
 
 NOTE 11 :
 
 M/s. Suven Nishtaa Pharma Pvt. Ltd., wholly owned subsidiary was merged
 with the company on 01.01.2012 . Accordingly previous year figures
 includes combined operations for three months and hence previous year
 figures are not comparable.
 
 NOTE 12 :
 
 Previous year figures have been regrouped and reclassified wherever
 considered necessary to conform to this year''s classifications.
Source : Dion Global Solutions Limited
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