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ASRAWAL CHHALLANI 4 CO.,

CHARTERED ACCOUNTANTS,

Byramji Town,
NA6PUR-440001.
PH. NO. 2544250. 2544253.

AUDITORS' REPORT TO THE MEMBERS OF HALDIRAM FOObS INTEENUTIONAL LIMITED

To The Members of :

HALDIRAM FOODS INTERNATIONAL LIMITED.

Report on the accounts for the year ended on 31st March, 2005 in compliance with
Section 227(2) of the Companies Act, 1956.
We have audited the attached Balance Sheet of HALDIRAM FOODS
INTERNATIONAL LIMITED, as at 31* March, 2005 and also the Profit and Loss
/Account for the year ended on that date annexed thereto and the Cash Flow Statements
for the year ended on that date. These financial statements are the responsibility of the
Company's management. Our responsibility is to express an opinion on these financial
statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted
in India. Those Standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation.
We believe that our audit
provides a reasonable basis for our opinion.
1

As required by the Companies (Auditor's Report) Order, 2003 as amended by the

Companies ( Auditor's Report ) Amendment Order, 2004, issued by the Central
Government of India in terms of sub-section (4A) of Section 227 of the Companies
Act, 1956, we enclose in the Annexure a statement on the matters specified in
paragraph 4 and 5 of the said Order.

Further to our comments in the Annexure referred to above, we report that :

(a)

We have obtained all the information and explanations, which to the best of
our knowledge and belief, were necessary for the purposes of our audit;

(b)

In our opinion proper books of account as required by law have been kept by
the Company so far as appears from our examination of thosj
For, Baldiram Foods International Limits*
Director

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A6RAWAL CHHALLANI A CO.,

CHARTERED ACCOUNTANTS,
(c)

The Balance Sheet and Profit and Loss Account dealt with by this report
are in agreement with the books of accounts;

(d)

In our opinion, the Balance Sheet and Profit and Loss Account dealt with by
this report comply with the Accounting Standards referred to in subsection (3C) of Section 211 of the Companies Act, 1956, to the extent
applicable;

(e)

On the basis of written representations received from the

directors/companies, as at 31st March, 2005 and taken on record by the
Board of Directors, we report that none of the directors is disqualified as
at 31st March, 2005 from being appointed as a director in terms of clause
(g) of sub-section (1) of section 274 of the Companies Act, 1956;

(f)

In our opinion and to the best of our information and according to the
explanations given to us, the said accounts give the information required by
the Companies Act, 1956, in the manner so required and give a true and fair
view in conformity with the accounting principles generally accepted in
India:
(i)

In the case of the Balance Sheet, of the state of affairs of the

Company as at 31st March, 2005;

(ii)

In the case of the Profit and Loss Account, of the Profit for the
year ended on that date; and

(iii)

In the case of Cash Flow Statement, of the Cash Flows for the year
ended on that date.
For. A6RAWAL CHHALLANI A Co.,
CHARTERED ACCOUNTANTS,

Nagpur ^^^^^^^^
Dated J&M* July, 2CX5v0o^

( S.R. CHHALLANI )
PARTNER.
M. NO. 30154.

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ASRAWAL CHHAUANI A CO..

CHARTERED ACCOUNTANTS,

ANNEXURE TO THE AUDITORS' REPORT ;

[ Referred to in Paragraph 1 of our Report of even date on the Accounts for the year
ended 31" March, 2005 of HALOIRAM FOODS INTERNATIONAL LIMITED ].
(i)

The Company is maintaining proper records showing full particulars including

quantitative details and situation of Fixed Assets.

(ii)

A substantial portion of the fixed assets have been physically verified by the
management during the year and in our opinion the frequency of verification is
reasonable having regard to the size of the Company and the nature of its assets.
No material discrepancies were noticed on such physical verification.

(iii)

Fixed Assets disposed off during the year were not substantial. According to the
information and explanations given to us, we are of the opinion that the disposal of
fixed assets has not affected the going concern status of the Company.

(iv)

The inventory has been physically verified during the year by the management. In
our opinion, the frequency of verification is reasonable.

(v)

The procedures of physical verification of inventories followed by the management

are reasonable and adequate in relation to the size of the Company and the nature
of its business.

(vi)

In our opinion and according to the information and explanations given to us, the
Company is maintaining proper records of inventory. The discrepancies noticed on
verification between physical stocks and the book records were not material and
have been properly dealt with in the books of account.

(vii)

The Company has taken loans from Companies listed in the Register maintained
under Section 301. The Number of parties is 12 and the amount involved in the
transactions is Rs. 74.98 Lacs. The Company has not granted loans to Companies
listed in the Register maintained under Section 301.

(viii) The rate of interest and other terms and conditions of the unsecured loans taken
from Companies listed in the Register maintained under Section 301 are not
prejudicial to the interest of the company. The Company has been regular in
payment of principal and interest amount. There are no over-dues.
(ix)

In our opinion and according to the information and explanations given to us, there
are adequate internal control procedure commensurate with the size of the
Company and the nature of its business with regard to purchase of inventory and

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A6RAWAL CHHALLANI A CO..

CHARTERED ACCOUNTANTS,
fixed assets. During the course of our audit, we have not observed any continuing
failure to correct major weaknesses in the internal controls.
(x)

Based on the audit procedures applied by us and according to the information and
explanations provided by the management, we are of the opinion that there are no
transactions that need to be entered into the register maintained under Section
301 of the Companies Act, 1956.

(xi)

In our opinion and according to the information and explanations given to us, the
Company has not taken any deposits from public as such not required to comply with
the provisions of Section 58A and 58AA of the Companies Act, 1956 and the
Companies ( Acceptance of Deposits ) Rules, 1975, with regard to deposits
accepted from the public.

(xii)

In our opinion, the Company has an internal audit system commensurate with its
size and nature of its business.

(xiii) The Central Government has not prescribed the maintenance of cost records under
section 209(l)(d) of the Companies Act, 1956.
(xiv)

According to the records of the Company, Provident Fund, Investor, Education and
Protection Fund, Employees' State Insurance, Income Tax, Sales Tax, Wealth Tax,
Customs Duty, Excise Duty, Cess and other Material statutory dues applicable to it
have been generally regularly deposited during the year with the appropriate
authorities. According to the information and explanations given to us, no
undisputed amounts payable in respect of above were in arrears, as at 31st March,
2005 for a period of more than six months from the date on which they became
payable.

(xv)

According to the records of the Company, there are no disputed Sales-Tax,

Income-Tax, Customs Duty, Wealth tax, Excise Duty or Cess which have not been
deposited on account of dispute.

(xvi)

The Company does not have any accumulated losses at the end of the financial year
and has not incurred cash losses during the financial year covered by our audit and
the immediately preceding financial year.

(xvii) In our opinion and according to the information and explanation given to us, the
Company has not defaulted in repayment of dues to a financial institution, bank or
debenture holders.

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ASRAWAL CHHALLANI & CO..

CHARTERED ACCOUNTANTS,
(xviii) Based on our examination of the records and the information and explanations
given to us, the Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
(xix) In our opinion the Company is not a chit fund or a nidhi /mutual benefit
fund/society.
Therefore the provisions of clause 4(xiii) of the Companies
( Auditor's Report) Order, 2003 are not applicable to the Company.
(xx)

In our opinion the Company is not dealing in or trading in shares, securities,

debentures and other investments. Accordingly, the provisions of clause 4(xiv) of
the Companies (Auditor's Report) Order, 2003 are not applicable to the Company.

(xxi)

In our opinion, the Company has not given guarantees for loans taken by others
from banks or financial institutions.

(xxii) In our opinion, the term loans have been applied for the purpose for which they
were raised. During the year no term loan is raised.
(xxiii) According to the information and explanations given to us and on an overall
examination of the balance sheet of the Company, we report that no funds raised
on short-term basis have been used for long-term investment.
(xxiv) According to the information and explanations given to us, the Company has not
made any preferential allotment of shares to parties and companies covered in the
register maintained under section 301 of the Companies Act, 1956.
(xxv) The Company has not raised any secured debentures during the year,
(xxvi) The Company has not raised any money through public issue during the year.
(xxvii) According to the information and explanations given to us, no fraud on or by the
Company has been noticed or reported during the course of our audit.
For, A6RAWAL CHHALLANI 4 Co.,
CHARTERED ACCOUNTANTS,

( S.R. CHHALLANI )
P^TNER.
M. NO. 30154.

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A6RAWAL CHHAUANI & CO..

CHARTERED ACCOUNTANTS.
BYRAMJI TOWN, NA6PUR 440 001.
PH. 2544250; 2544253.
HAIDIRAM FOODS INTERNATIONAL LIMITED NAfiPUR.
BALANCE SHEET
AS AT 31 ST MARCH. 2005.
PARTICULARS
SOURCES OF FUND :

SCHEDULES

I SHAREHOLDERS' FUNDS :
Share Capital.
Reserves & Surplus.
Shore Application Money.
Pending Allotment.

" A"
" B"

31.03.2005

31.03.2004

17,145,000
233,007,671

16,945,000
203.726,107

6,491,000

7,231,000

256,643.671

227,902.107

"C"
" D"

70,570,304
143,441,282

74,449,923
100,089,050

" H " Rs.

214,011,586

174,538.973

48,868,437

19,435,032

48.868.437

19.435.032

519.523.694

421,876.112

407,628,829
69,787,876
337,840,953
91,277,839

300,538,782
53,458,553
247,080,229
100,491,443

429.118,792

347,571.672

" F"

37,400

37,400

" IT' Rs.

37.400

37.400

29,615,000
50,903,024
40,119,816
21,498,400
142.136.240

39,490,000
33,211,395
29,522,431
20.918,087
123.141,913

" I " Rs.

n LOAN FUNDS :
Secured Loans.
Unsecured Loans.

DEFERRED T-* ' VOTI TTTES :

" m " RS .
TOTAL ( I TO m )

R*.

APPLICATIONS OF FUND :

i FIXED ASSETS

=
6ross Block.
Less: Depreciation.
Net Block.
Add: Capital W-I-P. Advances & Deposits.

" E"

11

INVESTMENT:

I " Rs.

m NET

CURRENT ASSETS
A CURRENT ASSETS: LOANS A ADVANCES
a
Inventory.
Sundry Debtors.
b
Cash & Bank Balances.
c
Loans & Advances.
d

"6"

" A " R.

Director

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ACRAWAL CHHALLANX CO.

CHARTERED ACCOUNTANTS.

31.03.2005
11

a
b

H"

Current Liabilities,
Provisions.
11

31.03.2004

B " Rs.

( A - B ) " m" Rs.

TOTAL ( I TO IH )

Rs.

47,765,797
4,002,941
51,768.737

46,808,544
2,066,329
48,874.873

90.367,502

74,267,040

519.523.694

421,876,112

A6RAWAL CHHALLANI 4 CO.,

CHARTERED ACCOUNTANTS.
SIGNIFICANT ACCOUNTIN6 POLICIES
AND NOTES TO THE ACCOUNTS =

" P"

Schedules " A " to " H " and " P " referred to above forms an integral part of the Balance Sheet.
For and on behalf of Haldiram Foods Intl. Ltd.

As per our report of even date attached.

For.ASRAWALCHHAlkANIACO.,
CHARTERED ACCOUNTANTS.

( RAJENORAKUMAR S. ASRAWAL )

( S.R. CHHALLANI)
PARTNER.
M.NO. 30154.

for, flakJiram Foods Intentional Limited

Limi

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A6RAWAL CHHALLANI A CO..

CHARTERED ACCOUNTANTS.
BVRAMJI TOWN, NA6PUR 440 001.
PH. 2544250; 2544253.
HAtDIRAM FOODS INTERNATIONAL LIMITED. NA6PUR.
PROFIT AND LOSS ACCOUNT.
FOR THE YEAR ENDED 31ST MARCH. 2005
PARTICULARS
INCOME:
Soles / Income From Operation.
Other Income.

31.03.2004

31.03.2008

"I"
J"

EXPENDITURE :
Coat Of 6oods Consumed / Sold.
Payments & Benefits To Employees.
Manufacturing Expenses.
Other Expenses.

PROFIT BEFORE INTEREST A DEPRECIATION:

Less: Interest.
PROFIT BEFORE DEPRECIATION A TAX:
Less ' Depreciation.
PROFIT BEFORE TAX:
Less: Income Tax.
PROFIT AFTER TAX:
Less ' Deferred Tax.
Wealth Tax.
PROFIT :
Add : Income Offered Under Search:

710,175.235
1,964,732

623,666.759
1,353,692

Rs.

712.139.967

625.020.451

" K"
" L"
"M1
"NT

459,201,303
12,279,581
127,058.372
49,541,634

415,589,200
10,246,645
107,977,042
48,134,392

Rs.
Rs.
"O1
Rs.

648.060.891
64.059.076
1,959,828
62.099.249
16,754,290
45.344.999
3,555.612
41.789.347
29,433,405

Rs.

12.355.942

581.947.279
43,073.172
2,571,912
40,501.260
13,535.783
26,965.477
2,066,329
24,899.148
8,313,569
14,136
16,571,443

Rs.
Rs.

800.000
700,000
13.855.942
46,172,802
60.028,744

16.571.443
36,396,936
52.968.379

Rs.

3,389,000
447,329
3,000,000
6.836.329

3,364,500
431.077
3,000,000
6,795,577

Rs.

53,192,415

46.172.802

Rs.
Rs.

Financial Year 2004 - 05.

Financial Year 2003 - 04.
PROFIT :
Add : Profit Brought Forward.
PROFIT :
Less . APPROPRIATIONS:
Interim / Final Dividend.
Dividend Tax.
general Reserve.

PROFIT CARRIED FORWARD :

SI6NIFICANT ACCOUNTIN6 POLICIES

"P"
AND NOTES TO THE ACCOUNTS :
Schedules " J " to " P " and " Q " referred to above forms an integral part of the Profit 4 Loss Account
For and on behalf of Haldiram Foods Intl. Ltd.

>

As per our report of even date attached.

For, A6RAWAL
CHARTEREI

ANI 4 CO.,
IOUNTANTS.

( RAJEKIDRAKUMAR S. A6RAWAL )

( S.R. CHHALLANI)
PARTNER.
M.NO. 30154.

Food. ****

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A6RAWAL CHHALLANI A CO..

CHARTERED ACCOUNTANTS.
BYRAMJI TOWN, NA6PUR 440 001.
PH. 2544250; 2544253.

DETAT1 5 fHEET TO BALANCE SHEET AND PROFIT AND LOSS ACCOUNT.

AS AT 31ST MARCH. 2005.

31.03.2005

31.03.2004

SCHEDULE " A "

SHARE CAPITAL =
I

AUTHORISED SHARE CAPITAL :

5,000,000 Equity Shares of Rs. 10/-each.

Rs.
II

50,000,000

50,000,000

50.000.000

50.000.000

17,145,000

16,945,000

17.1,45,000

16,945.000

80,305,000
9,800,000

80,305,000

90,105.000

80.305.000

2,000,000

2,000,000

2,000,000

2.000,000

790,641

495,387

ISSUED. SUBSCRIBED AND PAID UP SHARE CAPITAL

17,14,500 Equity Shares of Rs. 10/- each fully
Paid Up in Cash.( Previous Year 16,94,500 Shares.)
TOTAL " A "

Rs.

SCHEDULE " B "

RESERVES AND SURPLUS :
I

SECURITIES PREMIUM RESERVE :

As Per Last Balance Sheet.
Add: Received During The Year.
11

II

I"

Rs

CAPITAL SUBSIDY FROM O.I.C. :

As Per Last Balance Sheet.

" II "

Rs

III 6RANT FROM APEOA :

As Per Last Balance Sheet.

295,254

Add: Received During The Year.

11

I " Rs

IV 6ENERAL RESERVE =
As Per Last Balance Sheet.
Add'.Transferred For The Year.

" HI "

Rs

790.641

790,641

27,000,000
3,000,000

24,000,000
3.000,000

30,000.000

27.000.000

For, Haktiram Foods International limitod

Mnotar

(*(
/^
\qk -<

f^

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A6RAWAL CHHALLANI CO..

CHARTERED ACCOUNTANTS.
31.03.2009

31.03.2004

V SALES TAX INCENTIVE CAPITAL RESERVE :

As Per Lost Balance Sheet.
Add:Transferred FOP The Year.

Rs.

VI PROFIT AND LOSS ACCOUNT :

Surplus As Per Profit And Loss Account.
11

IV "

TOTAL " B " ( I TO VI )

Rs.
Ri.

47.457,664
9,461,951

41,571,304
5,886,360

96.919,615

47.497,664

53.19Z.415

46,172,802

53.192,419

46.172.802

233.007,671

203.726.107

32,366,040

42,095,250

32,366,040

42.099,290

SCHEDULE " C "

SECURED LOANS
I

TERM LOAN =
FROM S.B.I.. H.I.E. BRANCH. NA6PUR.
FCNRB.

Rs.
II

WORION6 CAPITAL LOAN

FROM S.B.I.. H.I.E. BRANCH. NA6PUR.
Aooinst HYP. Of Stocks A Books Debts.

24,173,516
14,030,748

23,386.250
388,793
8,579,630

Rs.

38.204.264

32,394.673

Rs.

70,570.304

74.449.923

418,176
114,157,064

300,529
99,788,521

FCNRB.
Hingna - Cash Credit A/c. No. 01600005153.
Itwari - Cash Credit A/c. No. 01600005579.
H"

TOTAL " C " ( I * H )

SCHEDULE " D "
UNSECURED LOANS =

From Directors.
From Others.
From Punjab National Bank CM:
Overdraft Due To Reconciliation.

27,471,479
1,394,563

SBIC/A - Water Park - Bank O/D.

TOTAL"D"

Rs.

143.441.282

100.069.090

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