PART I - Form of Balance Sheet Balance Sheet as at 31.03.2017 II. ASSETS Non Current Assets Note No Value in INR 31.03.2017 31 03 2016 Property, Plant and Equipment 3 1,030,404 2,427,862 Capital work-in-progress 3 - - Investment Property 4 - - Goodwill 5 Other Intangible assets 5-608,622 Intangible assets under development - - Financial Assets (i) Investments 6 - - (ii) Loans 7 - - (iii) Other Financial Asset 8 180,393 1,083,412 Deferred tax assets (net) 9 - - Other non-current assets 10-14,281 Total Non Current Assets 1,210,797 4,134,177 (2) Current Assets Inventories 11 12,116,060 16,550,819 Financial Assets (i) Investments 12 - - (i) Trade Receivables 13 41,483,347 67,852,518 (ii) Cash and Cash equivalents 14 13,953,306 12,220,368 (iii) Bank balances other than above (iv) Loans 15 - - (v) Other Financial Assets 16 - - Current tax assets Other Current Assets 17 660,959 1,689,465 Total Current Assets 68,213,672 98,313,171 Total Assets 69,424,469 102,447,349 I. EQUITY AND LIABILITIES EQUITY Equity Share Capital 18 377,387,436 362,683,407 Other Equity 19 (472,028,241) (451,646,558) Total Equity (94,640,805) (88,963,152) LIABILITIES Non-Current Liabilities Financial Liabilities (i) Long-term borrowings 20 102,330,760 72,501,901 Provisions 21 - - Employee Benefit Obligations 22 - - Deferred Tax liabilities (Net) 23 - - Government Grants 24 - - Total Non-Current Liabilities 102,330,760 72,501,901 Current Liabilities Financial Liabilities (i) Borrowings 25-66,263,610 (ii) Trade payables 26 49,042,630 35,620,819 (iii) Other Financial Liabilities 27 7,768,275 13,154,433 Provisions 28 - - Employee Benefit Obligations 29 - - Government Grants 30 - - Other Current Liabilities 31 4,923,609 3,869,738 Total Current Liabilities 61,734,514 118,908,599 Total Liabilities 69,424,469 102,447,349
PART II - Form of Statement of Profit & Loss Statement of Profit & Loss for the period ended 31.03.2017 Note No Value in INR 31.03.2017 31.03.2016 Revenue from operations 32 64,228,719 128,287,336 64,228,719 128,287,336 Other Income 33 19,462 20,160 Total Revenue 64,248,182 128,307,496 IV. Expenses: Cost of materials consumed 34 35,635,791 79,571,878 Purchases of Traded goods 35 - - Changes in Inventories of finished goods work-in-progress and Traded goods 36 3,852,911 21,847,016 Excise duty - - Employee benefits Expense 37 25,182,258 85,273,788 Selling, administration and others 38 - - Finance Costs 39 2,638,175 8,273,759 Depreciation and Amortisation Expense 1,879,864 1,799,082 Other Expenses 40 22,547,242 36,319,861 Total Expenses 91,736,242 233,085,384 V. Profit Before Exceptional and Extraordinary items and tax (III-IV) (27,488,061) (104,777,888) VI.Exceptional Items VII. Profit Before Extraordinary items and tax (V-VI) (27,488,061) (104,777,888) VIII. Extraordinary items IX. Profit before Tax (VII-VIII) (27,488,061) (104,777,888) X. Tax Expense: (1) Current Tax - - (2) Deffered Tax - - XI. Profit/(Loss) for the period from continuing operations (VII-VIII) XII. Profit/(loss) from discontinuing operations (27,488,061) (104,777,888) XIII. Tax Expense of discontinuing operations XIV. Profit/(loss) from discontinuing operations (after tax) (XII-XIII) - - XV. Profit (loss) for the period (XI+XIV) (27,488,061) (104,777,888)
3 Tangible assets Plant & Machinery Office equipment Total Gross Block Balance as at 1 April 2015 Additions 12,921,495 3,064,114 15,985,609 41,456 195,538 236,993 Balance as at 31 March 2016 (82,240) 13,045,191 (82,240) 3,259,651 16,304,842 Additions - - Balance as at 31 Mar 2017 1,836,972 1,836,972 11,208,219 3,259,651 14,467,870 Balance as at 1 April 2015 9,818,395 2,386,242 12,204,637 For the year 1,383,685 251,085 1,634,770 Accumulated depreciation Balance as at 31 March 2016 For the year (37,572) (37,572) 11,239,653 2,637,327 13,876,980 1,227,325 12,544 1,239,869 1,679,383 1,679,383 10,787,595 2,649,871 13,437,466 31 Mar 2016 1,805,538 622,324 2,427,862 31 Mar 2017 420,624 609,780 1,030,404 Balance as at 31 Mar 2017 Net Block
Note No 31.03.2017 31.03.2016 4 Investment Propoerty Net carrying amount 4 - - 6 Non Current investments Total 6 - - 7 Loans Total 7 - - 8 Other financial assets Security Deposits : Unsecured, considered good 180,393 1,083,412 Total 8 180,393 1,083,412 9 Deferred Tax Assets (Net) - - Total 9 - - 10 Other Non-Current Assets Capital Advances : Other non-current assets - 14,281 Total 10-14,281 11 Inventories (a) Raw Materials 9,167,460 9,749,308 (b) Work-in-progress - - (c) Finished goods 2,948,600 6,801,512 Total 11 12,116,060 16,550,819 12 Current Investments Total 12 - - 13 Trade Receivables Trade receivables outstanding for a period less than six months from the date they are due for payment - Secured, considered good - - - Unsecured considered good 36,062,729 62,734,733 - Doubtful - - Less: Allowance for bad and doubtful debts - - 36,062,729 62,734,733 Trade receivables outstanding for a period more six months from the date they are due for payment - Unsecured considered good 5,420,618 5,117,785 5,420,618 5,117,785 Total 13 41,483,347 67,852,518 14 Cash and Cash equivalents (a) Balance with banks -On current accounts 13,953,306 12,220,368 -On deposit accounts (with original maturity of 3 months or less) - - Total Cash and cash equivalents 13,953,306 12,220,368 Total 14 13,953,306 12,220,368 15 Loans (Current) Loans and advances to related parties : Total 15 - - 16 Other Financial Assets Total 16 - - 17 Other Current Assets (a) Others Prepaid expenses 476,305 837,379 Advance to suppliers 184,654 852,086 Total 17 660,959 1,689,465
Note No 31.03.2017 31.03.2016 18 Share Capital a. Authorized b. Issued, Subscribed and Paid-Up Number of shares issued Previous Year: Nominal value of the shares Previous Year: 377,387,436 362,683,407 Total 18 377,387,436 362,683,407 19 Other Equity (a) General reserve account 4,829,948 3,493,573 Opening balance - - Add : Transferred from Profit and Loss account - - Closing balance - - (b) Surplus - Profit and Loss Account balance Opening balance (440,920,200) (351,698,618) Net Profit/(Net Loss) for the current year (25,831,666) (104,777,888) (466,751,866) (456,476,506) (c) Foreign currency translation reserve account Opening balance 4,829,948 3,493,573 Add : Adjustment for the year (10,106,322) 1,336,375 Closing balance (5,276,374) 4,829,948 Total 19 (472,028,241) (451,646,558) 20 Borrowings (Non Current) (a) Loans and advances from Related parties 102,330,760 72,501,901 Total 20 102,330,760 72,501,901 21 Provisions Deferred Purchase Consideration Total 21 - - 22 Employee Benefit Obligations Total 22 - - 23 Deferred Tax Liabilities (Net) - - Total 23 - - 24 Government Grants Total 24 - - 25 Borrowings (Current) Loans repayable on demand - from Banks - 66,263,610 Total 25-66,263,610 26 Trade payables Others 49,042,630 35,620,819 Total 26 49,042,630 35,620,819 27 Other Financial liabilities (b) Current maturities of finance lease obligations - - Interest accrued but not due on borrowings 1,786,247 877,475 Other liabilities 603,293 2,456,377 Accrued Salaries and Benefits 1,593,525 9,725,099 Inter company payable 3,785,210 95,482 Total 27 7,768,275 13,154,433
Note No 31.03.2017 31.03.2016 28 Provisions Total 28 - - 29 Employee Benefit Obligations Total 29 - - 30 Government Grants Total 30 - - 31 Other Current Liability Statutory payable 225,457 431,281 Customer and other advance received 4,698,152 3,438,457 Total 31 4,923,609 3,869,738
Revenue from Operations Note No 31.03.2017 31.03.2016 Sale of products (gross of duty) 57,243,044 128,072,613 Other operating revenues 6,985,676 214,722 Total 32 64,228,719 128,287,336 Other Income (a) Interest Income Interest received on deposits with banks 19,462 20,160 Total 33 19,462 20,160 Cost of material consumed Inventory of materials at the beginning of the year 9,749,308 51,247,789 Purchases 35,053,943 38,073,396 Raw materials acquired on business acquisition - - Finished goods acquired on business acquisition - - Inventory of materials at the end of the year 9,167,460 9,749,308 Total 34 35,635,791 79,571,878 Purchases of Traded goods 35 - - Changes in Inventory Opening inventory 14,691,575 -Finished goods 6,801,512 28,648,528 Closing inventory -Finished goods 2,948,600 6,801,512 Changes in inventory 36 3,852,911 21,847,016 Employee Benefit Expenses (a) Salaries and incentive Salaries and bonus 24,569,255 83,803,283 (f) Staff welfare expenses 613,003 1,470,505 Total 37 25,182,258 85,273,788 SELLING, ADMINISTRATION AND OTHERS Total 23 - - FINANCE COSTS (a) Interest Expenses 2,638,175 8,273,759 Total 39 2,638,175 8,273,759 OTHER EXPENSES Payment to the auditors - auditor 568,044 458,672 Training expenses 2,964 9,739 Travelling & conveyance 2,470,512 5,229,711 Communication expenses 485,824 909,094 Professional and Legal charges 281,580 (605,186) Power and fuel 166,537 1,150,460 Rent 2,095,821 10,596,341 Repairs - Building 11,396 1,005,886 Repairs - Plant and machinery 54,754 33,031 Repairs - Others - 119,595 After sales expenses 1,013,460 3,592,248 Bad debts / advances written off 4,956,732 503,313 Insurance - 30,154 Rates and taxes excluding Taxes on Income inclu license fees 781,621 1,058,265 Bank Charges 423,966 811,484 Commission & discounts 688,359 1,008,866 Packing & Forwarding 33,276 1,040,819 Advertisement & Publicity - 288,280 Entertainment expenses 65,495 215,443 Transport charges 3,136,814 4,139,462 Miscellaneous expenses 1,192,252 2,151,512 Net Loss on foreign currency transaction and translation (other than considered 4,117,834 2,572,670 as finance cost) Total 40 22,547,242 36,319,861