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Ruchi Soya Industries Ltd.

BSE: 500368 | NSE: RUCHI |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE619A01035 | SECTOR: Edible Oils & Solvent Extraction

BSE Live

Sep 16, 16:00
1059.05 -3.00 (-0.28%)
Volume
AVERAGE VOLUME
5-Day
5,953
10-Day
4,715
30-Day
8,340
2,510
  • Prev. Close

    1062.05

  • Open Price

    1064.15

  • Bid Price (Qty.)

    1057.00 (15)

  • Offer Price (Qty.)

    1065.00 (8)

NSE Live

Sep 16, 15:59
1058.05 -7.55 (-0.71%)
Volume
AVERAGE VOLUME
5-Day
24,165
10-Day
20,154
30-Day
44,507
18,832
  • Prev. Close

    1065.60

  • Open Price

    1080.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    1058.05 (10)

Annual Report

For Year :
2018 2015 2014 2013 2012 2011 2010 2009 2008

Director’s Report

The directors have pleasure in presenting the Twenty Second Annual Report together with the Audited Statement of accounts of the Company for the year ended 31st March, 2008. FINANCIAL RESULTS : 2007-08 2006-07 (Rs. in crores) (Rs. in crores) Sales and other income 11,075.01 8,648.29 Profit before depreciation and tax 328.47 222.05 Depreciation 74.73 65.61 Profit before taxation 253.74 156.44 Provision for taxation 86.11 54.05 Provision for tax for earlier years 8.40 1.69 Profit after taxation 159.23 100.70 Balance brought forward from previous year 170.30 107.40 Amount available for appropriation 329.53 208.10 APPROPRIATION General Reserve 25.00 25.00 Debenture Redemption Reserve 0.18 0.44 Proposed dividend- Preference 1.81 1.81 - Equity 9.44 8.75 Tax on dividend 1.91 1.80 Surplus carried to Balance Sheet 291.19 170.30 329.53 208.10 DIVIDEND : Your directors recommend a dividend of 4% amounting to Rs.1.81 crores (Previous year Rs.1.81 crores) on 45,24,285 Redeemable Cumulative Preference Shares of Rs.100/- each. Your directors also recommend dividend of 25% (Re.0.50 per share on face value of Rs.2/-) on equity capital of Rs.37.76 crores for the year under review as against 24% (Rs.2.40 per share on face value of Rs.10/-) for the previous year. The total cash outgo on account of dividend and tax thereon amounts to Rs.13.16 crores as against Rs.12.36 crores in the previous year. OPERATIONS : During the year under review, the sales and other income of your Company have increased to Rs.11,075.01 crores from Rs.8,648.29 crores in the previous year, recording a growth of over 28%. The Companys Profit before depreciation and tax increased to Rs. 328.47 crores from Rs. 222.05 crores in the previous year reflecting a healthy growth of approximately 48%. Profit after tax also increased to Rs.159.23 crores against that of Rs.100.70 crores in previous year, registering a growth of over 58%. EXPORTS : The Company registered a growth of over 54% in exports during the financial year as compared to that of previous year. It exported products of Rs.1,371.93 crores during the year under review as compared to Rs.887.30 crores in the previous year. FUTURE OUTLOOK : The Company is focused on backward integration, specifically in Palm Oil Segment. The Company has signed Memorandum of Understandings with the Governments of Andhra Pradesh, Gujarat, Mizoram, Orissa and Tamil Nadu for palm cultivation in high potential areas under contract farming as per the States policies. The Company is also exploring palm plantation business opportunities outside India. This will help your Company in improving supply chain, customer relationship management and massive growth on sustainable basis. Keeping in view the growing soya crop in India, your Company is in the process of setting up/expanding production facilities at the new locations/existing processing plants to cater to the growing demand and sustain leadership position. As a part of our strategy to enlarge our presence in the growing domestic edible oil segment, your Company has begun to increase capacities of production facilities in mustard oil segment. The above mentioned initiatives will enable your Company to cater to substantial part of edible oil consumption across various segments in India with a clear focus on the growing branded segment in future. The Company is also exploring avenues in bio-fuel industry and has been allotted lease-hold land in the State of Madhya Pradesh. DIRECTORS : Mr. P.D.Nagar and Mr. Sajeve Deora retire by rotation in accordance with the provisions of Articles of Association of the Company and being eligible, offer themselves for re-appointment. Mr. P.S. Santhanakrishnan resigned from the Board of Directors with effect from 31st March, 2008 due to his advanced age and health concerns. The Board has placed on record the valuable contribution made by Mr. P.S. Santhana krishnan during his tenure with the Company. The Board of Directors appointed Mr. Prabhu Dayal Dwivedi as an Additional Director during the year under review. In terms of Articles of Association, he holds office upto the forthcoming Annual General Meeting. The Company has received notice from a member proposing him as candidate for the office of director in accordance with the provisions of Section 257 of the Companies Act, 1956. The Company has also received notice from a member proposing Mr. Ashok Kumar Dhingra as a candidate for the office of director in accordance with the provisions of Section 257 of the Companies Act, 1956. EMPLOYEES STOCK OPTION SCHEME (ESOS) : Pursuant to the resolution passed by the members at the Extra-Ordinary General Meeting held on 28th November, 2007, the Company has introduced Employee Stock Option Scheme 2007 (referred to as the scheme) to enable the eligible directors/ employees of the Company and its subsdiary to participate in the future growth of the Company. The Company has granted 12,37,000 options to the eligible directors and employees of the Company and its subsidiary on 1st April, 2008. All options vest over 3 years from 1st April, 2008 - 20% on 1st April, 2009, 30% on 1st April, 2010 and 50% on 1st April, 2011. ISSUE OF WARRANTS : Pursuant to the resolution passed by the members at the Extra-Ordinary General Meeting held on 28th November, 2007, the Board of Directors issued 3,53,25,000 warrants, each convertible into one fully paid up equity share of Rs. 2/-, to promoters, their relatives and associates and other persons/entities on preferential basis. During the year, 64,00,000 warrants were converted into equity shares. SUBSIDIARY COMPANY : The Report of Directors and Statement of Accounts of subsidiary Ruchi Worldwide Limited together with the Auditors Report thereon, are attached. The requisite statement pursuant to Section 212 of the Companies Act, 1956 is also attached herewith. CORPORATE GOVERNANCE : The Company has in practice a comprehensive system of corporate governance. A separate Report on Corporate Governance forms part of the Annual Report. A certificate of the Companys Statutory Auditors regarding compliance of the conditions of Corporate Governance as stipulated under Clause 49 of the Listing Agreement is annexed to the Report on Corporate Governance. DIRECTORS RESPONSIBILITY STATEMENT : As stipulated under Section 217 (2AA) of the Companies Act, 1956, your directors subscribed to the Directors Responsibility Statement and confirm as under : (i) that in the preparation of the annual accounts, the applicable Accounting Standards have been followed along with proper explanations relating to material departures; (ii) that the Directors had selected appropriate accounting policies and applied them consistently, and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year 2007-08 and of the profit of the Company for that period; (iii) that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and (iv) that the Directors have prepared the accounts for the financial year ended 31st March, 2008 on a going concern basis. PARTICULARS OF EMPLOYEES : Particulars of employees as required to be furnished pursuant to Section 217 (2A) of the Companies Act, 1956, read with the rules thereunder, form part of this Report. However, as per the provisions of Section 219(1)(b)(iv) of the Companies Act, 1956, the reports and accounts are being sent to all the shareholders of the Company excluding the statement of particulars of employees. Any shareholder interested in obtaining a copy may write to the Company Secretary of the Company. ENERGY, TECHNOLOGY & FOREIGN EXCHANGE : Information required under Section 217(1)(e) read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is given in the Annexure forming part of this Report. FIXED DEPOSITS : The Company has not accepted any deposits from the public during the year under review. AUDITORS : The Auditors M/s. P.D. Kunte & Co., Chartered Accountants, retire at the forthcoming Annual General Meeting and are eligible for re-appointment. ACKNOWLEDGEMENT : Your directors place on record their gratitude for the valued support and assistance extended to the Company by the Shareholders, Banks, Financial Institutions and Government Authorities and look forward to their continued support. Your directors also express their appreciation for the dedicated and sincere services rendered by employees of the Company. For and on behalf of the Board of Directors Place:Indore KAILASH SHAHRA Date :30th August, 2008 Chairman

Director’s Report