XBRL Financial Statements - 2020-21

CREMICA FOOD INDUSTRIES LIMITED
Standalone Financial Statements for period 01/04/2020 to 31/03/2021
[400100] Disclosure of general information about company

Unless otherwise specified, all monetary values are in INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Corporate identity number U15400PB2013PLC037640
Permanent account number of entity AAFCC3433K
THEING ROAD PHILLAUR
Address of registered office of company Jalandhar PB 144410
Commercial and
Type of industry Industrial
Registration date 24/06/2013
Company Limited By
Category/sub-category of company Shares/Non-Government
Company
Whether company is listed company No
Number of employees in the company at the end of the financial Year 708
Whether company has published sustainability report for the financial
No
Year
Date of board meeting when final accounts were approved 14/02/2022
Period covered by financial statements 2020-2021
Date of start of reporting period 01/04/2020 01/04/2019
Date of end of reporting period 31/03/2021 31/03/2020
Nature of report standalone consolidated Standalone
Content of report Financial Statements
Description of presentation currency INR
Level of rounding used in financial statements Actual
Type of cash flow statement Indirect Method
Whether company is maintaining books of account and other
No
relevant books and papers in electronic form
Disclosure of principal product or services [Table] ..(1)

Types of principal product or services [Axis] ONE
01/04/2020
to
31/03/2021
Disclosure of general information about company [Abstract]
Disclosure of principal product or services [Abstract]
Disclosure of principal product or services [LineItems]
Product or service category (ITC 4 digit) code 2002
TOMATOES
PREPARED OR
PRESERVED
Description of product or service category OTHERWISE
THAN BY
VINEGAR OR
ACETIC ACID
Turnover of product or service category 187,06,78,831
Highest turnover contributing product or service (ITC 8 digit) code 20029000
TOMATOES
PREPARED OR
PRESERVED
Description of product or service OTHERWISE
THAN BY
VINEGAR OR
ACETIC ACID
Turnover of highest contributing product or service 187,06,78,831
CREMICA FOOD INDUSTRIES LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
[400400] Disclosures - Directors report
Details of directors signing board report [Table] ..(1)

Directors signing board report [Axis] ONE TWO
01/04/2020 01/04/2020
to to
31/03/2021 31/03/2021
Details of signatories of board report [Abstract]
Details of directors signing board report [LineItems]
Name of director signing board report [Abstract]
First name of director AKSHAY GEETA
Last name of director BECTOR BACTOR
Designation of director Managing Director Wholetime Director
Director identification number of director 00058877 00108515
Date of signing board report 14/02/2022 14/02/2022
Details of principal business activities contributing 10% or more of total turnover of company [Table] ..(1)
Product/service 1
Principal business activities of company [Axis]
[Member]
01/04/2020
to
31/03/2021
Details of principal business activities contributing 10% or more of total turnover of company [Abstract]
Details of principal business activities contributing 10% or more of total turnover of company
[LineItems]
Manufacture of
Name of main product/service sauces, jams, jellies
and marmalades
Manufacture of
Description of main product/service sauces, jams, jellies
and marmalades
NIC code of product/service 10305
Percentage to total turnover of company 96.00%
2

01/04/2020
to
31/03/2021
Textual information (1)
Disclosure in board of directors report explanatory [TextBlock] [See below]
Description of state of companies affair [See below]
The Company does not
propose to transfer any
amount to Reserves in
Disclosure relating to amounts if any which is proposed to carry to any
accordance to the
reserves provisions of Section 123
of the Companies Act,
2013.
Disclosures relating to amount recommended to be paid as dividend [See below]
Details regarding energy conservation [See below]
Details regarding technology absorption [See below]
Details regarding foreign exchange earnings and outgo [See below]
Disclosures in director’s responsibility statement [See below]
Details of material changes and commitment occurred during period Textual information (8)
affecting financial position of company [See below]
Particulars of loans guarantee investment under section 186 [TextBlock] [See below]
Particulars of contracts/arrangements with related parties under section Textual information (10)
188(1) [TextBlock] [See below]
Whether there are contracts/arrangements/transactions not at arm's
No
length basis
Whether there are material contracts/arrangements/transactions at
No
arm's length basis
Date of board of directors' meeting in which board's report referred
14/02/2022
to under section 134 was approved
Disclosure of extract of annual return as provided under section 92(3) Textual information (11)
[TextBlock] [See below]
Disclosure of statement on declaration given by independent directors Textual information (12)
under section 149(6) [TextBlock] [See below]
Disclosure for companies covered under section 178(1) on
A s p e r
directors appointment and remuneration including other matters attached
provided under section 178(3) [TextBlock]
Disclosure of statement on development and implementation of risk A s p e r
management policy [TextBlock] attached
Details on policy development and implementation by company on
corporate social responsibility initiatives taken during year [See below]
[TextBlock]
Disclosure as per rule 8(5) of companies accounts rules 2014 [TextBlock]
Disclosure of financial summary or highlights [TextBlock] [See below]
A s p e r
Disclosure of change in nature of business [TextBlock] attached
Details of directors or key managerial personnels who were Textual information (15)
appointed or have resigned during year [TextBlock] [See below]
Disclosure of companies which have become or ceased to be its
subsidiaries, joint ventures or associate companies during [See below]
year [TextBlock]
Details relating to deposits covered under chapter v of companies act Textual information (17)
Details of deposits which are not in compliance with requirements N o t
of chapter v of act [TextBlock] Applicable
Details of significant and material orders passed by
A s p e r
regulators or courts or tribunals impacting going concern attached
status and company’s operations in future [TextBlock]
Details regarding adequacy of internal financial controls with A s p e r
reference to financial statements [TextBlock] attached
Disclosure of appointment and remuneration of managerial personnels Textual information (18)
Number of meetings of board (A) 4
3
Footnotes
(A) During the financial year 2020-21,4 (Four) Board Meetings were convened on31.07.2020, 12.11.2020, 30.12.2020 and
17.03.2021.The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013.
4
Disclosure in board of directors report explanatory [Text Block]

DIRECTORS' REPORT
To,
The Members,
Your Directors present the8thAnnual Report on the business and operations of the Company together with the Audited Financial Statement for the
Financial Year ended March 31, 2021.
FINANCIAL RESULTS:
The financial performance of your companyfor the year ended 31st March, 2021 as compared with the previous year is summarized as below:-
(Figures In Lakhs)
INCOME
Revenue (net) 18706.78 28812.21
Other Income 775.62 891.99
TOTAL 19482.41 29704.21
(Loss)/Earnings before interest, depreciation, tax and amortization (EBIDTA) (796.66) 1148.90
Less: Financial Costs 621.64 476.69
Less Interest Income (45.57) (41.53)
Less: Provision for Depreciation 390.18 489.30
Profit/Loss before prior period income/ expenses (1762.92) 224.44
Prior period expenses 0.00 0.00
Profit/Loss before Tax (1762.92) 224.44
Current Tax
- (2.58) 81.73 22.51
Provision for Tax relating to earlier years
2.58 (104.24)
MAT Credit
Profit/Loss for the year (1762.92) 224.44
Particulars 2020-21 2019-20
5
FINANCIAL HIGHLIGHTS AND OPERATIONS:
The revenue from operation for the period ending 31.03.2021 is Rs 18706.78 Lakhs as compared to Rs. 28812.21 Lakhs for the period ending on
31.03.2020. The (Loss)/Earnings before interest, depreciation, tax and amortization (EBIDTA) for the period ending 31.03.2021 is Rs.
(796.66)Lakhs as compared to Rs 1148.90 Lakhsfor the previous year. The Loss for the period ending 31.03.2021 is Rs 1762.92Lakhs as
compared to profit of Rs. 224.44 Lakhs for the previous year.
During the year, operational performance of the Company was adversely affected in the 1st and 2nd quarter due to lockdown in India in the wake
of COVID 19 pandemic.
After the second quarter, the demand outlook for Company’s products is gradually recoveringand is expected to remain stable in future.
SHARE CAPITAL:
During the year under review Company had granted and vested1991 Shares pursuant to the ESOP Scheme of the Company. Allotment of these
shares were done on April 03, 2021.There was no change in the Authorized Share Capital during the year.
DIVIDEND:
The dividend at the rate of 2% on preference share capital of the company was approved and paid as per the details given below:-
Name of the Preference Share Holder No of Preference Shares of Rs. 10 each Preference Dividend @ 2%
India Agri Business Fund II Limited 17,94,740 3,24,622
Real Trust-II 18,129 3,279/-
TRANSFER TORESERVES:
The Company does not propose to transfer any amount to Reserves in accordance to the provisions of Section 123 of the Companies Act, 2013.
MATERIAL CHANGES AND COMMITMENTS, IF ANY:
There were no material changes and commitments affecting the financial position of the Company which occurred between the end of the
Financial Year to which these Financial Statements relate and to the date of this report.
OUTLOOK:
The beginning of 2020 has witnessed the global spread of COVID-19, i.e. coronavirus. Global threat from COVID-19 has continued to grow at a
rapidly accelerating rate. Governments in many countries announced lockdowns and asked people to stay indoors.Around the world, these
coronavirus lockdowns have driven professional and social life out of the physical world and into the virtual realm. Although the situation was
worse in the first and second quarterin the Financial year 2020-21, But as time goes by the outlook of products is recovering gradually and
expected to improve as we move forward.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:
The details of Loans and Investments and guarantees covered under the provisions of Section 186 of the Act are given in the Notes to the
Financial Statements forming part of Annual Report.
EXTRACT OF ANNUAL RETURN:
Pursuantto the provisions ofSection 92(3) oftheCompanies Act, 2013 read with rules framed thereunder, an extract of the Annual Return in Form
MGT-9 is attached as ‘Annexure A’ and forms part of this Report.
DIRECTORS& KMP:
During the year under review, Mr. Surendra Khemka after providing a (three) month’snotice for termination of his employment left the company
on 31st October,2020from the position of Chief Financial Officer and Executive Director. In place of Mr. Khemka, Mr. Ravindra Nath Gupta was
appointed on 15th December,2020 as Chief Financial Officer (KMP) of the Company. He resigned from the company on 30th August,2021. In
place of Mr. Gupta, Mr. Sudhir Barik is appointed as Chief Financial Officer (KMP) of the company with effect from December 21, 2021.Further,
Mr.Robin Vijan has resigned from the position of Company Secretary with effect from 30th June 2021. In Place of Mr. Robin Vijan, Mr. Mohit
6
Kukreja has been appointed as Company Secretary of the Company with effect from 12th August 2021.
SUBSIDIARIES:
7
As on 31st March, 2021, the Company is having following Subsidiaries.
Sr. No. Name of the Company CIN No
M/s. Cremica Condiments Pvt. Ltd. U15119PB2016PTC045499
M/s. Cremica Food Park Private Ltd. U15400DL2012PTC242628
M/s. Mrs. Bector’s Foods Private Limited U15400DL2013PTC255163
Report on the Financial Position of above mentioned subsidiary has been provided in AOC -1.
CORPORATE SOCIAL RESPONSIBILITY(CSR) INITIATIVES:
The net profit of the Company has exceededthe threshold limit of Rs. 5.00 Crores during the last three financial years (FY 17-18, 18-19, 19-20)
and accordingly provisions of Section 135 of the Companies Act, 2013are applicable to the Company.The Board of the Company has constituted
a CSR Committee provisions of Section 135 of the Companies Act, 2013.
Our Company believes that Corporate Social Responsibility (CSR) plays a major role in the development of any society. Therefore, it has made
Corporate Social Responsibility (CSR) an integral part of its ethos and culture.
A contribution is made to Prime Minister National relief fund as defined in the CSR policy, also, identified under Schedule VII of the Companies
Act, 2013.
The Company spent entire 2% of the average net profits made during the three immediately preceding financial years amounting to Rs.
7,80,110/- to PMNRF.
The Annual Report on CSR activities in accordance with the Companies (Corporate Social Responsibility) Rules, 2014, is appended as Annexure-
D to this report.
AUDITORS:
Statutory Auditors: The Members of the Companyat the 4th Annual General Meeting held on December28th, 2017had appointed of M/s. S.R.
Batliboi & Co. LLP, Chartered Accountants as Statutory Auditors of the Company for a period of four years from the conclusion of 4th Annual
General Meeting till the conclusion of 8th Annual General Meeting.Now, the company has proposed to appoint M/s Walker Chandiok & Co LLP
as statutory auditors of the company from the conclusion of 8th Annual General Meeting till the conclusion of 13th Annual General Meeting (for
a period of 5 years).
Secretarial Auditor: Pursuant to the provisions of Section 204 of the Act and the rules made there under, the Company had appointed M/s. DMK
Associates, Company Secretaries, to undertake the Secretarial Audit of the Company for the year ended 31stMarch 2021. The Secretarial Audit
Report issued in this regard is annexed as Annexure - C.
AUDITORS' REPORT:
The following qualification is made by the Auditors:
The Auditors while forming their opinion in Report has considered the Advances given to Cremica FoodPark Private Ltd, a Wholly owned
Subsidiary (WOS) against supply of Services as stated in note no 39 of the Financial Statements as loans u/s 186 of the Companies Act, 2013.
There is outstanding advance amounting to Rs. 276,128,358 (previous year Rs 317,559,231) given to the wholly owned subsidiary for processing
of raw material. In addition, there are other recoverable balances outstanding amounting to Rs. 161,029,604 (previous year Rs.98,214,235) as at
the year. In absence of sufficient appropriate audit evidence regarding the recoverability of the advance and other recoverable balances for the
purpose it was given or otherwise, the auditors were unable to comment on the consequential impact on both the compliances under section 186
of the Companies Act, 2013 for the advance given to/recoverable from subsidiary as well as the carrying value of such advances/ recoverable/any
exposure in relation to guarantees given and adjustments, if any, that may be required to be made to the financial statements. Auditor’s report for
the previous year ended March 31, 2020 was also qualified for the above matter.
Auditors emphasized on the following matters:
The Auditors stated in the note no 43 that Company has defaulted in holding its Annual General Meeting (AGM) within the time period of nine
8
months (including three months extension) from the date of its year end, which is in contravention of the relevant provisions of the Companies
Act, 2013. , the management of the Company is in the process of taking necessary action for compounding such offence.
The Auditors while forming their opinion in Report has considered the uncertainties and management’s assessment of the impact of COVID-19
pandemic on the Company’s operations, assets, cash flows and results.
As per note no 44, describes the status of setting up of an Industrial unit at Noida under “Integrated Cold Chain and value Addition Infrastructure”
(Scheme) which was approved by Ministry of Food Processing Industries (MoFPI) and the management assessment for the completion of the
above project.
SECRETARIAL AUDITOR’S REPORT:
The following observations are made by the Auditors:
In accordance with the provisions of Section 149 read with Rule 4 of Companies (Appointment & Qualification) Rules, 2014 and Schedule IV,
the company is required to have minimum two Independent Directors, however due to resignation of Mr. Rishi Nath Khanna as Independent
director of the company w.e.f. February 07, 2020, Company has only one Independent Director instead of two. Thereafter, Mr. S.K Tuteja was
appointed as Non-Executive Independent Director with effect from November 27, 2020.
Pursuant to Section 177 (2) of the Companies Act, 2013 and rules made thereunder, the Audit Committee of the Company shall comprise
minimum 3 Directors with Independent Directors forming a majority. However, the constitution of the audit committee was not in compliance of
the Act w.e.f. February 07,2020 upto 26.11.2020.
Pursuant to Section 178 (1) of the Companies Act, 2013 and rule made thereunder, the Nomination and Remuneration Committee (NRC) of the
company shall comprise of three or more non-executive directors out of which not less than one-half shall be Independent directors. However, the
composition of NRC was not in compliance of the Act w.e.f. February 07, 2020 upto 26.11.2020.
Pursuant to Section 135 (5) of Companies Act, 2013 every company has to spend two per cent of the average net profits of the company made
during the three immediately preceding financial years. However, the Company has submitted Rs.780,109/- in the Prime Minister National Relief
Fund on 03.12.2021 as against 30.09.2021.
The Secretarial Report on Compliances in accordance with Section 204(1) of the Companies Act, 2013 and Rule No.9 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules,2014, is appended as Annexure- C to this report.
POLICY ON DIRECTORS’ APPOINTMENT AND REMUNERATION:
The Nomination and Remuneration Committee (NRC) reviews and evaluates the resumes of potential candidates for appointment of Directors and
meets them prior to making recommendations of their nomination to the Board. Specific requirements for the position, including expert
knowledge expected, are communicated to the appointee. On the recommendation of the NRC, the Board has adopted and framed a Remuneration
Policy for the Directors, Key Managerial Personnel and other employees pursuant to the provisions of the Companies Act, 2013. The
remuneration determined for Executive/Independent Directors is subject to the recommendation of the Nomination and Remuneration Committee
and approval of the Board of Directors. The Executive Directors are not paid sitting fees; the Non-Executive Directors are entitled to sitting fees
for attending the Board/Committee Meetings. It is affirmed that the remuneration paid to Directors, Key Managerial Personnel and all other
employees is in accordance with the Remuneration Policy of the Company.
PERSONNEL AND INDUSTRIAL RELATIONS:
The Management-Employees relations remained cordial throughout the year.
PARTICULARS OF EMPLOYEES:
9
Except Managing Director as per the details mentioned below, the Company has not employed any individual whose remuneration falls within the
purview of the limits prescribed under the provisions of Section 197 of the Companies Act, 2013, read with Rule 5(2) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014.
Name : Mr. Akshay Bector
Designation of the Employee : Managing Director
Remuneration received during 2020-21 : 75,00,000/-
Nature of Employment : Full Time
Qualification and Experience : Graduate, 35Years
Date of Commencement of Employment : 24.06.2013
Age : 60 Years
Last Employment : Managing Director of Mrs. Bector’s Food Specialties Ltd.
Percentage of Equity Shares held 55.30 (as on 31.03.2021)
Name of the Relative Director : Mrs. Geeta Bector (Wife of Mr. Akshay Bector)
RELATED PARTY TRANSACTIONS:

There are no materially significant related party transactions during the year under review made by the Company with Promoters, Directors, or
other designated persons which may have a potential conflict with the interest of the Company at large. Thus, disclosure in Form AOC-2 is not
required. However, the disclosure of transactions with related party for the year, as per Accounting Standard-18 Related Party Disclosures is
given in Note no 33 to the Balance Sheet as on 31st March, 2021.
EMPLOYEE STOCK OPTION SCHEMES:
Your Company in the Board Meeting held on 6th April 2018 had approved the Employee Stock Option Scheme the same was further approved by
the Members of the Company on 10th April 2018. Details required to be provided under Section 62 of the Act, and Rule 12(9) of Companies
(Share Capital and Debenture Rules, 2014) are mentioned below.
Financial
Sr. Financial Year
Particulars Year
No 2020-21
2019-20
a) options granted; 8875 6625
(b) options vested; 892 1991
(c) options exercised; 892 1991
10
(d) the total number of shares arising as a result of exercise of option 892 1991
(e) options lapsed NA 9000
Rs. 90 per Rs 96 per

(f) the exercise price;
Share share
(g) variation of terms of options; NA NA
(h) money realized by exercise of options; 80280 1,91,136
(i) total number of options in force; 35500 26500
(j) employee wise details of options granted to;-
1575 options
(i) key managerial personnel; granted to NA
KMP
any other employee who receives a grant of options in any one year of option amounting to
(ii) NA NA
five percent or more of options granted during that year.
identified employees who were granted option, during any one year, equal to or exceeding one
(iii) percent of the issued capital (excluding outstanding warrants and conversions) of the company NA NA
at the time of grant;
MEETINGS:
During the financial year 2020-21,4 (Four) Board Meetings were convened on31.07.2020, 12.11.2020, 30.12.2020 and 17.03.2021.The
intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013.
COMPOSITION OF BOARD COMMITTEES AS ON THE DATE OF THIS REPORT
AUDIT COMMITTEE
The Audit Committee consists of following Directors:
Mr. Umesh Khaitan.

Mr. Rajesh Kumar Srivastava.
Mr. Raman Singh Sidhu
Mr. S. K Tuteja
Mr. Raman Singh Sidhu is the Chairman of the said Committee.
NOMINATION AND REMUNERATION COMMITTEE
The Nomination and Remuneration Committee consists of following Directors.
Mr. Umesh Khaitan.

Mr. Rajesh Kumar Srivastava.
Mr. S. K Tuteja
Mr. Umesh Khaitan is the Chairman of the said Committee.
11
ESOP COMMITTEE
The ESOP Committee consists of following Directors
Mr. Rajesh Kumar Srivastava

Mr. Umesh Khaitan.
Mr. Sudhir Barik
Mr. Rajesh Kumar Srivastavais the Chairman of the said Committee.
CSR COMMITTEE
The CSR Committee consists of following Directors
Mrs. Geeta Bector

Mrs. Geeta Bectoris the Chairperson of the said Committee.
SECRETARIAL STANDARDS
The applicable Secretarial Standards, i.e. SS-1 and SS-2, relating to ‘Meetings of the Board of Directors’ and ‘General Meetings’, respectively,
have been duly followed by the Company.
DECLARATION BY INDEPENDENT DIRECTORS
Independent Director(s) of the Company have given declarations that they meet the criteria of independence as laid down under Section 149(6)
and other applicable provisions of the Companies Act, 2013. In the opinion of the Board, the Independent Directors, fulfil the criteria of
independence specified in Section 149(6) and other applicable provisions of the Companies Act, 2013 .
POLICY AGAINST SEXUAL HARASSMENT:
The Company has zero tolerance for sexual harassment at workplace and has adopted a Policy on Prevention, Prohibition and Redressal of Sexual
Harassment at workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal)
Act, 2013 and the rules made thereunder. The Policy aims to provide protection to employees at workplace and prevent and redress complaints of
sexual harassment and for matters connected or incidental thereto, with the objective of providing a safe working environment, where employees
feel secure. The Company has also constituted the Internal Complaint Committee in compliance with the requirement of the Act and complying
the provisions of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the rules made thereunder.
VIGIL MECHANISM:
The Company has a well established whistle blower policy as part of vigil mechanism for Directors and employees to report concerns about
unethical behaviour, actual or suspected fraud or violation of the Company’s Code of conduct or ethics policy.
GENERAL:
Your Directors state that no reporting is required in respect of the following items as there were no transactions on these items during the year
under review:
Details of the deposits covered under Chapter V of the Act.

Issue of equity shares with differential rights as to dividend, voting or otherwise.
No significant or Material Order was passed by the Regulators or Courts or Tribunals which impact the going concern status Company’s
Operations in future.
ENERGY CONSERVATION AND TECHNOLOGY ABSORPTION:
A number of energy conservation techniques were initiated during the year and successfully implemented.
The Company has made ever endeavor to ensure that the optimal use of energy, avoiding wastage and conserving energy as far as possible. The
particulars relating to conservation of energy, technology absorption, foreign exchange earnings and outgo, as required to be disclosed under the
Act, are provided in Annexure B to this Report.
RESPONSIBILITY STATEMENT:
To the best of knowledge and belief and according to the information and explanations obtained by them, your directors make the following
statements in terms of Section 134 (3)(c) of the Companies Act, 2013:
that in the preparation of the annual accounts for the year ended March 31, 2021, the applicable accounting standards have been followed along
with proper explanation relating to material departures, if any;
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 as at March 31, 2021 and the profit or loss of the Company for the year ended on that date;
12
that the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of
the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;
the annual accounts have been prepared on a going concern basis;

The management is of the view that due to on- going COVID situation for past two years it has not been able to establish internal control
considering the essential components ofInternal control stated in the Guidance Note issued by the Institute of Chartered Accountant of India.
That the directors had devised proper system to ensure compliance with the provisions of all applicable laws and that such system were adequate
and operating effectively.
ACKNOWLEDGEMENT:
Your directors wish to place on record their deep appreciation for the devoted & unstinted service rendered by the workers, staff members at all
levels of operation of the company. The directors also place on record their gratitude to Bankers, State & Central Government and other business
constituents for their valued cooperation & timely support to the company.
For and on behalf of the Board of Directors of

Cremica Food Industries Limited
Place: New Delhi

Dated: February 14, 2022
Akshay Bector
Managing Director(DIN: 00058877)
Geeta Bector
Director (DIN: 00108515)
Annexure A
FORM NO. MGT 9
EXTRACT OF ANNUAL RETURN
As on financial year ended 31.03.2021
13
Pursuant to Section 92 (3) of the Companies Act, 2013 and rule 12(1) of the Company (Management & Administration) Rules, 2014.
REGISTRATION & OTHER DETAILS:
CIN U15400PB2013PLC037640
Registration Date 24-06-2013
Name of the Company Cremica Food Industries Limited
Category/Sub-category of the Company Public Company/ Limited by Shares
Address of the Registered office & contact details Theing Road, Phillaur, Punjab-144410
Whether listed company No
Link Intime India Pvt Ltd

Name, Address & contact details of the Registrar & Transfer C-13 Pannalal Silk Mills Compound, LBS Marg, Bhandup West
Agent, if any. Mumbai-400078, Ph. No.: 022 25963838, Email:
Mumbai@linkintime.co.in
PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY:
NIC Code of the Product/service

S. No. Name and Description of main products / services % to total turnover of the company
1 Manufacture of sauces, jams, jellies and marmalades 10305 100.00%
PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES -
Sr. Holding/ Subsidiary/ % of Shares Applicable

Name and Address of the Company CIN
No Associate held Section
Cremica Condiments Pvt. Ltd

1. Theing Road, Phillaur, U15119PB2016PTC045499 Subsidiary 100.00 2 (87)
Punjab,144410
M/s. Cremica Food Park Private

Ltd.
2. U15400DL2012PTC242628 Subsidiary 100.00 2 (87)
202, Okhla Phase III, New
Delhi-110020
M/s. Mrs. Bector’s Foods Private

Ltd.
3. U15400DL2013PTC255163 Subsidiary 100.00 2 (87)
202, Okhla Phase III, New
Delhi-110020
14
SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)
A. Category-wise Share Holding
%
Change
No. of Shares held at the No. of Shares held at the end
Category of
beginning of the year[As on of the year[As on
Shareholders during
31-March-2020] 31-March-2021]
the
year
% of % of
Demat Physical Total Total Demat Physical Total Total
Shares Shares
A. Promoters
(1)Indian
a) Individual/ HUF - 55.30 - 55.30 -

4006830 4006830 4006830 4006830
- 55.30 - 55.30 -
Total shareholding of Promoter (A) 4006830
4006830 4006830
4006830
B. Public Shareholding
Non-Institutions
a) Bodies Corp.
Indian 25766 205797 231563 3.20 25766 205797 231563 3.20 -
ii) Overseas 2550880 35.21 2550880 35.21 -

- 2550880 - 2550880
b) Individuals
15
i)Individual shareholders holding nominal share

892 0 892 0.01 892 0 892 0.01 -
capital up to Rs. 1 lakh
i)Individual shareholders holding nominal share

164236 290757 454993 6.28 164236 290757 454993 6.28 -
capital more than Rs. 1 lakh
Sub-total (B):- 2741774 496554 44.70 2741774 496554 44.70 -

3238328 3238328
Grand Total (A+B) 496554 7245158 496554 7245158 0.00

6748604 6748604
100.00 100.00
B) Shareholding of Promoter-
Shareholding at Shareholding at % change in

Shareholder’s
Sr.No. the beginning of the end of the shareholding during
Name
the year year the year
% of total %of Shares Pledged / % of total %of Shares Pledged

No. of
No. of Shares Shares of the encumbered to total Shares of the / encumbered to total
Shares
company shares company shares
Mr. Akshay
1 4006830 55.30 0.00 4006830 55.30 0.00
Bector -
4006830 55.30 0.00 4006830 55.30 0.00

Total -
C)Change in Promoters’ (including Promoters Group) Shareholding (please specify, if there is no change):
Increase/ Cumulative
Name of the Shareholding at the beginning of
Sr. No Date Reason (Decrease) in Shareholding during
Shareholder the year (as on 01.04.2018)
Shareholding the year
No of % of total shares % of total shares No of % of total shares of

No of Shares
Shares of the Company of the Company Shares the Company
1. Mr. Akshay Bector 4006830 55.30 NA NA NIL NIL 4006830 55.30
D) Shareholding Pattern of top ten Shareholders:

(Other than Directors, Promoters and Holders of GDRs and ADRs):
16
Sr. For Each of the Top 10

Shareholding at the beginning of the year Cumulative Shareholding during the year
No. Shareholders
No. of shares Percentage No. of shares Percentage
1. IABF-II Mauritius 2550880 35.21 2550880 35.21
2. Mr. Akhilesh Bector 230857 3.19 230857 3.19
3. Akshay Bector HUF 205597 2.84 205597 2.84
4. Mrs. Geeta Bector 164236 2.27 164236 2.27
5. Mrs. Sana Bector 59900 0.83 59900 0.83
6. Real Trust-II 25766 0.36 25766 0.36
7. Cremica Employee Welfare Trust 277 0.00 277 0.00
8. Mr. Surendra Khemka 158 0.00 158 0.00
9 Mr. Aziz Khan 150 0.00 150 0.00
10 Mrs. Bector’s Food Private Limited 100 0.00 100 0.00
E)Shareholding of Directors and Key Managerial Personnel:
Shareholding of each Directors and each Key

Shareholding at the beginning Cumulative Shareholding
SN Managerial Personnel
of the year during the year
No. of % of total % of total

No. of
shares shares of the shares of the
shares
01/04/2018 company company
1. Mr. Akshay Bector
At the beginning of the year 4006830 55.30 4006830 55.30
17
V) INDEBTEDNESS :
Rs. In Lakhs
Indebtness of the company including interest outstanding /accrued but not due for payment
Secured Loans excluding Unsecured Total Indebtness

Deposits
deposits Loans Crores
Indebtedness at the beginning of the year
i) Principal Amount 3726.41 - - 3726.41
ii) Interest due but not paid - - - -
iii) Interest accrued but not due 9.23 - - 9.23
Total (i+ii+iii) 3735.64 - - 3735.64
Change in Indebtness During the Financial

year
Interest - - - -
Addition 822.21 - - 822.21
Reduction - - - -
Net Change 822.21 - - 822.21
Indebtness at the end of the financial Year
i) Principal Amount 4557.15 - - 4557.15
ii) Interest due but not paid - - - -
iii) Interest accrued but not due 0.75 - - 0.75
Total (i+ii+iii) 4557.85 - - 4557.85
REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL-
Remuneration to Managing Director, Whole-time Directors and/or Manager:
18
Name of Managing Name of Whole Name of Whole

Name of Whole Time
Particulars of Director From April Time Director From Time Director
SN. Director From April
Remuneration 2020 till March April 2020 till March From April 2020 till
2020 till March 2021
2021 2021 March 2021
Mr. Surendra Mr. Nikhil

Mr. Akshay Bector Mrs. Geeta Bector
Khemka Bhuchchar
1 Gross salary
(a) Salary as per provisions

27,30,565/-
contained in section 17(1) of 75,00,000/- 99,34,192/- 30,00,000/-
the Income-tax Act, 1961
(b) Value of perquisites u/s

NIL NIL NIL NIL
17(2) Income-tax Act, 1961
(c) Profits in lieu of salary

under section 17(3) Income- NIL NIL NIL NIL
tax Act, 1961
2 Stock Option NIL NIL NIL NIL
3 Sweat Equity NIL NIL NIL NIL
Commission
- as % of
profit
4 NIL NIL NIL NIL
- others,
specify…
Others,
please
5 NIL NIL NIL NIL
specify
Total (A) 27,30,565/-

75,00,000/- 99,34,192/- 30,00,000/-
REMUNERATION TO OTHER DIRECTORS: NIL

REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/MANAGER/WTD:
Particulars of Name of Company Name of Chief Financial

SN.
Remuneration Secretary Officer
19
Mr. Robin Vijan Mr.Ravindra Nath

Gupta(w.e.f 15.12.2020)
1 Gross salary
(a) Salary as per provisions contained in section 17(1) of

1 0,68,154/- 14,78,496/-
the Income-tax Act, 1961
(b) Value of perquisites u/s 17(2) Income-tax Act, 1961 NIL NIL
(c) Profits in lieu of salary under section 17(3) Income-

NIL NIL
tax Act, 1961
2 Stock Option NIL NIL
3 Sweat Equity NIL NIL
Commission
- as % of profit
4 NIL NIL
- others, specify…
Others, please
5 specify NA NA
Total (A)
1 0,68,154/- 14,78,496/-
PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:
There were no penalties/ punishment/ compounding of offences for breach of any Section of Companies Act against the Company or its Directors
or other officers in default, if any, during the year.

Place: New DelhiAkshay Bector Geeta Bector

Dated: February 14, 2022 ManagingDirector (DIN: 00058877)Director (DIN: 00108515)
ANNEXURE B
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO
Information in accordance with the provisions of Section 134(3) (m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts)
Rules, 2014 regarding conservation of energy, technology absorption and foreign exchange earnings and outgo is given hereunder:
I. CONSERVATION OF ENERGY:
a) Steps taken or impact on conservation of energy: NA
b) Steps taken by the company for utilizing alternate sources of energy: NA
20
c) Capital investment on energy conservation equipment’s: N.A
II. TECHNOLOGY ABSORPTION
Your Company has always been making best efforts towards technology absorption, adaption and innovation to improve the quality of its
products being manufactured at its and to reduce the cost of production. The efforts on Research & Development is a continuous process but the
expenditure cannot be stated accurately. Further, the Company has not procured imported technology.
III. FOREIGN EXCHANGE EARNING AND OUTGO
Activities relating to export, initiatives to increase exports, Development of New Export marketsfor Products and Services and Export Plans.
The Management has been taking effective steps to increase its exports and development of new export markets.
Details of Foreign Exchange Earnings and Outgo:
21
(Amount in Lakhs)
Particulars Current Year (2020-21) Previous Year (2019-20)
Earnings in foreign currency 73.97 132.37
Expenditure in foreign currency
Value of Imports on C.I.F. basis (on accrual basis ) 279.66 2096.00
Expenditure in foreign currency (on accrual basis ) 1.40 84.87

Place: New Delhi

Akshay Bector
Geeta Bector
Form No. AOC- 1

Statement containing salient features of the financial statement of Subsidiaries/associate companies/joint ventures
(Pursuant to first proviso to sub-section (3) of section 129 read with rule 5 of Companies (Accounts) Rules, 2014)
Part "A": Subsidiaries
(Amount in Lakhs)
1. Sr. No 1 2 3
Cremica Food Park M/s. Cremica Condiments M/s. Mrs. Bector’s Foods
2. Name of the Subsidiary Company :
Pvt. Ltd. Pvt. Ltd. Private Limited
3. Reporting Period : 31st March 2021 31st March 2021 31st March 2021
4. Reporting Currency : Indian Rupees Indian Rupees Indian Rupees
5. Exchange rate as on 31st March, 2021 : Not Applicable Not Applicable Not Applicable
6. Share Capital including Pref. Shares : 2450.00 1.00 1.00
7. Reserves and Surplus : 1486.84 (0.97) (5.92)
8. Total Assets : 12684.29 0.11 1.16
Total Liabilities (excluding Share Capital
22
9. and reserves) : 8747.45 0.08 6.09
10. Investments : NIL NIL NIL
11. Turnover : 1056.55 NIL NIL
12. Other Income : 15.06 NIL NIL
13. Total Revenue : 1071.62 NIL NIL
14. Profit/ Loss before taxation : (1022.78) (0.16) (0.15)
Provision for Taxation including Deffered

15. : 112.18 NIL NIL
Tax
16. Profit/ Loss after taxation : (1134.97) (0.16) (0.15)
17. Proposed Dividend on equity Shares (%) : NIL NIL NIL
18. Proposed Dividend on equity Shares : NIL NIL NIL
19. % of Shareholding : 100.00 % 100.00 % 100.00%
Part "B": Associates and Joint Ventures

Statement pursuant to Section 129 (3) of the Companies Act, 2013 related to Associate Companies and Joint Ventures: NOT APPLICABLE
Akshay Bector Geeta Bector Sudhir Barik Mohit Kukreja

Managing Director Director CFO Company Secretary
DIN-00058877 DIN-00108515PAN:ABEPB1144M M.No A43077
Place: New Delhi Place:New DelhiPlace: New Delhi Place: New Delhi
Date: February 14, 2022 Date: February 14, 2022Date: February 14, 2022 Date: February 14, 2022
Annexure C
FORM NO. MR-3
SECRETARIAL AUDIT REPORT

FOR THE FINANCIAL YEAR ENDED 31.03.2021
[Pursuant to section 204(1) of the Companies Act, 2013 and Rule No.9 of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules,2014]
To,
23
The Members,
Theing Road Phillaur
Jalandhar - 144410
We have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by
Cremica Food Industries Limited- CIN U15400PB2013PLC037640 (hereinafter called the Company). Secretarial Audit was conducted in a
manner that provided us a reasonable basis for evaluating the corporate conduct/statutory compliances and expressing our opinion thereon.
Based on our verification of the Company’s books, papers, minute books, forms and returns filed and other records maintained by the Company
and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of Secretarial Audit, we
hereby report that in our opinion, the Company has, during the audit period covering the financial year ended on March 31, 2021 (Audit Period)
complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance-mechanism in
place to the extent, in the manner and subject to the reporting made hereinafter:
We have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company for the financial year
ended on March 31, 2021 according to the provisions of:
The Companies Act, 2013 (the Act) and the rules made thereunder;
The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made thereunder; (Not applicable to the Company during the Audit
Period);
The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;
Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to the extent of Foreign Direct Investment (FDI),
Overseas Direct Investment(ODI) and External Commercial Borrowings(ECB); (No FDI and ECB was taken and no ODI was made by the
Company during the Audit Period)
The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act’):-
The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011; (Not applicable to the
Company during the Audit Period);
The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015; (Not applicable to the Company during the Audit
Period);
The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018; (Not applicable to the Company
during the Audit Period);
The Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014; (Not applicable to the Company during the
Audit Period);
The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008; (Not applicable to the Company during the
Audit Period);
The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies Act
and dealing with client; (Not applicable as the Company is not registered as Registrars to an Issue and Share Transfer Agent);
The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009; and (Not applicable to the Company during the
Audit Period);
The Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018; (Not applicable to the Company during the Audit
Period);
We have also examined compliance with the applicable clauses of the following:
Secretarial Standards issued by The Institute of Company Secretaries of India (SS-1 and SS-2).
The SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 and Listing Agreements entered into by the Company with Stock
Exchange(s), if applicable; (Not applicable to the Company during the Audit Period);
(vi) OTHER LAWS SPECIFICALLY APPLICABLE TO THE COMPANY AS IDENTIFIED BY THE MANAGEMENT
Foods Safety & Standards Act, 2006
Foods Safety & Standards (Licensing & Registration of Food Business), Regulations, 2011;
During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc.
mentioned above subject to the following observations:
24
Pursuant to Section 177 (2) of the Companies Act, 2013 and rules made thereunder, the Audit Committee of the Company shall comprise of
company shall comprise of three or more non-executive directors out of which not less than one-half shall be Independent directors.However, the
Fund on 03.12.2021 as against 30.09.2021
Based on the information received and records maintained, we further report that:
The Board of Directors of the Company is constituted with proper balance of Executive, Non-Executive, woman and Independent directors. The
changes in the composition of the Board of Directors that took place during the period under review were carried out in compliance with the
provisions of the Act except the observations made above.
Adequate notice of at least seven days or less was given to all directors to schedule the Board Meetings along with agenda and detailed notes on
agenda and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for
meaningful participation at the meeting in compliance of the Act.
Majority decision is carried through and recorded in the minutes of the meetings. Further as informed and verified from minutes, no dissent was
given by any director in respect of the resolutions passed in the board and the committee meetings.
Based on the compliance mechanism established by the company and on the basis of the compliance report(s) made by Mr. Mohit Kukreja,
Company Secretary and Unit head (s) of the company taken on record by the Board of Directors at their meeting (s), we further report that there
are adequate systems and processes in the Company commensurate with the size and operations of the Company to monitor and ensure
compliance with applicable laws, rules, regulations and guidelines.
We further report that during the audit period the company has not incurred any specific event/ action that can have major bearing on the
company’s affairs in pursuance of above referred laws, rules, regulations; guidelines, standards etc.
FOR DMK ASSOCIATES

COMPANY SECRETARIES
Date:
Place: New Delhi
UDIN: ________
(MONIKA KOHLI)
B.Com (H), FCS, LL.B, I.P.
PARTNER
CP No. 4936
FCS No. 5480
Peer Review No. 779/2020
ANNEXURE 1
To,
The Members,
Jalandhar - 144410
Sub: Our Secretarial Audit for the Financial Year ended March 31, 2021 of even date is to be read along with this letter.
Maintenance of secretarial record is the responsibility of the management of the Company. Our responsibility is to express an opinion on these
25
secretarial records based on our Audit.
We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness of the contents of the
secretarial records. We believe that the processes and practices, we followed provide a reasonable basis our opinion.
We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company.
Wherever required, we have obtained the Management representation about the compliance of laws, rules, and regulations and happening of
events etc.
The Compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of the management.
Our examination was limited to the verification of the procedures on test basis.
The Secretarial Audit report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness with which the
management has conducted the affairs of the Company.
As per the information provided by the Company, there are certain disputes cases filed by or against the Company, which are currently lying
pending with the various Courts. However, as informed, these cases have no major impact on the Company.
FOR DMK ASSOCIATES

COMPANY SECRETARIES
Date:
Place: New Delhi
UDIN: ________
(MONIKA KOHLI)
B.Com (H), FCS, LL.B, I.P.PARTNER
CP No. 4936
FCS No. 5480
26
Annexure D
ANNUAL REPORT ON CSR ACTIVITIES
Sr.
Particulars Remarks
No.
A Brief outline of the Company’s CSR policy, CFIL’s Policy directs towards enhancing environmental and natural Capital,
including overview of projects or programs conducting programmes in areas which fall within economic activity, PMNRF
1 proposed to be undertaken and a reference to or any other fund set up by Government and contribute to Technology
the web- link to the CSR policy and project or incubators located within academic institutions approved by central
programs. government etc.
Mrs. Geeta Bector

2 The Composition of the CSR Committee. Mr. Raman Singh Sidhu
Mrs. Geeta Bector is the Chairman of the Committee.
Average net profit of the Company for last

3 3,90,05,444.33
three financial years.
Prescribed CSR Expenditure (two per cent. of

4 7,80,110
the amount as in item 3 above).
Details of CSR spent during the financial year:

Total amount to be spent for the financial year
5 Amount unspent, if any; Rs 7,80,110( Seven Lakh Eighty thousand one hundred ten rupees)
Manner in which the amount spent during the No surplus
financial year is detailed below The whole CSR amount mentioned above is spend through a contribution
made to Prime Minister National Relief Fund
(1) (2) (3) (4) (5) (6) (7) (8)
Projects or programs Amount spent on

the projects or
(1) Local area or programs
CSR Sector other Amount outlay Sub-heads: Cumulative Amount spent:
SI.
project or in which the (2) (budget) project expenditure upto Direct or through
activity Project is Specify the State or programs (1) Direct to the reporting implementing
No
Identified. covered and district where wise expenditure on period agency *
projects or programs projects
was or programs (2)
undertaken Overheads:
Prime
Minister
1 PMRF India Rs 7,80,110 Rs 7,80,110 Rs 7,80,110 Direct
National
Relief Fund
TOTAL 7,80,110
*Give details of implementing agency:

In case the company has failed to spend the two per cent of the average net profit of the last three financial years or any part thereof, the reasons
27
for not spending the amount in its Board report.
A responsibility statement of the CSR Committee that the implementation and monitoring of CSR Policy, is in compliance with CSR objectives
and Policy of the company.
Implementation of CSR activities is in compliance with Companies Act, 2013 & OPE guidelines and to meet the CSR objectives and policy of the
Company.
(Chairman and Managing Director) (Chairman CSR Committee)

Place: New Delhi

Akshay Bector
Geeta Bector
Description of state of companies affair

The revenue from operation for the period ending 31.03.2021 is Rs 18706.78 Lakhs as compared to Rs. 28812.21 Lakhs for the period ending on
31.03.2020. The (Loss)/Earnings before interest, depreciation, tax and amortization (EBIDTA) for the period ending 31.03.2021 is Rs.
(796.66)Lakhs as compared to Rs 1148.90 Lakhsfor the previous year. The Loss for the period ending 31.03.2021 is Rs 1762.92Lakhs as
compared to profit of Rs. 224.44 Lakhs for the previous year. During the year, operational performance of the Company was adversely affected in
the 1st and 2nd quarter due to lockdown in India in the wake of COVID 19 pandemic. After the second quarter, the demand outlook for
Company’s products is gradually recoveringand is expected to remain stable in future.
Disclosures relating to amount recommended to be paid as dividend

The dividend at the rate of 2% on preference share capital of the company was approved and paid as per the details given below:- Name of the
Preference Share Holder No of Preference Shares of Rs. 10 each Preference Dividend @ 2% India Agri Business Fund II Limited 17,94,740
3,24,622 Real Trust-II 18,129 3,279/-
Details regarding energy conservation

A number of energy conservation techniques were initiated during the year and successfully implemented. The Company has made ever endeavor
to ensure that the optimal use of energy, avoiding wastage and conserving energy as far as possible. The particulars relating to conservation of
energy, technology absorption, foreign exchange earnings and outgo, as required to be disclosed under the Act, are provided in Annexure B to this
Report.
28
Details regarding technology absorption

A number of energy conservation techniques were initiated during the year and successfully implemented. The Company has made ever endeavor
to ensure that the optimal use of energy, avoiding wastage and conserving energy as far as possible. The particulars relating to conservation of
energy, technology absorption, foreign exchange earnings and outgo, as required to be disclosed under the Act, are provided in Annexure B to this
Report.
Details regarding foreign exchange earnings and outgo

(i)Activities relating to export, initiatives to increase exports, Development of New Export marketsfor Products and Services and Export Plans.
The Management has been taking effective steps to increase its exports and development of new export markets. (ii)Details of Foreign Exchange
Earnings and Outgo: (Amount in Lakhs) Particulars Current Year (2020-21) Previous Year (2019-20) Earnings in foreign currency 73.97 132.37
Expenditure in foreign currency Value of Imports on C.I.F. basis (on accrual basis ) 279.66 2096.00 Expenditure in foreign currency (on accrual
basis ) 1.40 84.87
Disclosures in director’s responsibility statement

To the best of knowledge and belief and according to the information and explanations obtained by them, your directors make the following
statements in terms of Section 134 (3)(c) of the Companies Act, 2013: i. that in the preparation of the annual accounts for the year ended March
31, 2021, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any; ii.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 as at March 31, 2021 and the profit or loss of the Company for the year ended on that date; iii. that the directors have
taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act,
2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; iv. the annual accounts have been
prepared on a going concern basis; v. The management is of the view that due to on- going COVID situation for past two years it has not been
able to establish internal control considering the essential components ofInternal control stated in the Guidance Note issued by the Institute of
Chartered Accountant of India. vi. That the directors had devised proper system to ensure compliance with the provisions of all applicable laws
and that such system were adequate and operating effectively.
Details of material changes and commitment occurred during period affecting financial position of company
There were no material changes and commitments affecting the financial position of the Company which occurred between the end of the
Financial Year to which these Financial Statements relate and to the date of this report.
Particulars of loans guarantee investment under section 186 [Text Block]

The details of Loans and Investments and guarantees covered under the provisions of Section 186 of the Act are given in the Notes to the
Financial Statements forming part of Annual Report.
Particulars of contracts/arrangements with related parties under section 188(1) [Text Block]
There are no materially significant related party transactions during the year under review made by the Company with Promoters, Directors, or
other designated persons which may have a potential conflict with the interest of the Company at large. Thus, disclosure in Form AOC-2 is not
required. However, the disclosure of transactions with related party for the year, as per Accounting Standard-18 Related Party Disclosures is
given in Note no 33 to the Balance Sheet as on 31 st March, 2021.
29
Disclosure of extract of annual return as provided under section 92(3) [Text Block]
Pursuantto the provisions ofSection 92(3) oftheCompanies Act, 2013 read with rules framed thereunder, an extract of the Annual Return in Form
MGT-9 is attached as ‘Annexure A’ and forms part of this Report.
Disclosure of statement on declaration given by independent directors under section 149(6) [Text Block]
Independent Director ( s ) of the Company have given declarations that they meet the criteria of independence as laid down under Section 149(6)
and other applicable provisions of the Companies Act, 2013 . In the opinion of the Board, the Independent Directors, fulfil the criteria of
independence specified in Section 149(6) and other applicable provisions of the Companies Act, 2013 .
Details on policy development and implementation by company on corporate social responsibility initiatives taken
during year [Text Block]
The net profit of the Company has exceededthe threshold limit of Rs. 5.00 Crores during the last three financial years (FY 17-18, 18-19, 19-20)
and accordingly provisions of Section 135 of the Companies Act, 2013are applicable to the Company.The Board of the Company has constituted
a CSR Committee provisions of Section 135 of the Companies Act, 2013.
Our Company believes that Corporate Social Responsibility (CSR) plays a major role in the development of any society. Therefore, it has made
Corporate Social Responsibility (CSR) an integral part of its ethos and culture.
A contribution is made to Prime Minister National relief fund as defined in the CSR policy, also, identified under Schedule VII of the Companies
Act, 2013.
The Company spent entire 2% of the average net profits made during the three immediately preceding financial years amounting to Rs.
7,80,110/- to PMNRF .
The Annual Report on CSR activities in accordance with the Companies (Corporate Social Responsibility) Rules, 2014, is appended as Annexure-
D to this report.
30
Disclosure of financial summary or highlights [Text Block]

The financial performance of your companyfor the year ended 31 st March, 2021 as compared with the previous year is summarized as below:-
(Figures In Lakhs)
INCOME
Revenue (net) 18706.78 28812.21
Other Income 775.62 891.99
TOTAL 19482.41 29704.21
(Loss)/Earnings before interest, depreciation, tax and amortization (EBIDTA) (796.66) 1148.90
Less: Financial Costs 621.64 476.69
Less Interest Income (45.57) (41.53)
Less: Provision for Depreciation 390.18 489.30
Profit/Loss before prior period income/ expenses (1762.92) 224.44
Prior period expenses 0.00 0.00
Profit/Loss before Tax (1762.92) 224.44
Current Tax
- (2.58) 81.73 22.51
Provision for Tax relating to earlier years
2.58 (104.24)
MAT Credit
Profit/Loss for the year (1762.92) 224.44
Particulars 2020-21 2019-20
31
Details of directors or key managerial personnels who were appointed or have resigned during year [Text Block]
on 31 st October,2020from the position of Chief Financial Officer and Executive Director. In place of Mr. Khemka, Mr. Ravindra Nath Gupta
was appointed on 15 th December,2020 as Chief Financial Officer (KMP) of the Company. He resigned from the company on 30 th August,2021.
In place of Mr. Gupta, Mr. Sudhir Barik is appointed as Chief Financial Officer (KMP) of the company with effect from December 21,
2021.Further, Mr.Robin Vijan has resigned from the position of Company Secretary with effect from 30 th June 2021. In Place of Mr. Robin
Vijan, Mr. Mohit Kukreja has been appointed as Company Secretary of the Company with effect from 12 th August 2021.
Disclosure of companies which have become or ceased to be its subsidiaries, joint ventures or associate companies
during year [Text Block]
As on 31 st March , 2021, the Company is having following Subsidiaries.
Sr. No. Name of the Company CIN No
M/s. Cremica Condiments Pvt. Ltd. U15119PB2016PTC045499
M/s. Cremica Food Park Private Ltd. U15400DL2012PTC242628
M/s. Mrs. Bector’s Foods Private Limited U15400DL2013PTC255163
Report on the Financial Position of above mentioned subsidiary has been provided in AOC -1.
Details relating to deposits covered under chapter v of companies act [Text Block]
Your Directors state that no reporting is required in respect of the following items as there were no transactions on these items during the year
under review:
Details of the deposits covered under Chapter V of the Act.
Disclosure of appointment and remuneration of managerial personnels [Text Block]

on 31 st October,2020from the position of Chief Financial Officer and Executive Director. In place of Mr. Khemka, Mr. Ravindra Nath Gupta
32
[400200] Disclosures - Auditors report
Details regarding auditors [Table] ..(1)

Auditors [Axis] ONE
01/04/2020
to
31/03/2021
Details regarding auditors [Abstract]
Details regarding auditors [LineItems]
Category of auditor Auditors firm
S. R. Batliboi & Co.
Name of audit firm LLP
Name of auditor signing report Anil Mehta
Firms registration number of audit firm 301003E/ E300005
Membership number of auditor 095812
4th Floor, Office
405, World Mark -
2, Asset No. 8, IGI
Address of auditors Airport Hospitality
District, Aerocity,
New Delhi-110037
Permanent account number of auditor or auditor's firm ACHFS9180N
SRN of form ADT-1 G30983456
Date of signing audit report by auditors 14/02/2022
Date of signing of balance sheet by auditors 14/02/2022
33
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Table] ..(1)
Auditor's Clause not
Auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Axis] favourable remark applicable
[Member] [Member]
01/04/2020 01/04/2020
to to
31/03/2021 31/03/2021
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in
auditors' report [Abstract]
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in
auditors' report [LineItems]
Textual information
Disclosure in auditors report relating to fixed assets (19) [See below]
Textual information
Disclosure in auditors report relating to inventories (20) [See below]
Textual information
Disclosure in auditors report relating to loans (21) [See below]
Disclosure in auditors report relating to compliance with Section 185 and 186 of Textual information
Companies Act, 2013 (22) [See below]
Textual information
Disclosure in auditors report relating to deposits accepted (23) [See below]
Textual information
Disclosure in auditors report relating to maintenance of cost records (24) [See below]
Textual information
Disclosure in auditors report relating to statutory dues [TextBlock] (25) [See below]
Textual information
Disclosure in auditors report relating to default in repayment of financial dues (26) [See below]
Disclosure in auditors report relating to public offer and term loans used for Textual information
purpose for which those were raised (27) [See below]
Disclosure in auditors report relating to fraud by the company or on the Textual information
company by its officers or its employees reported during period (28) [See below]
Textual information
Disclosure in auditors report relating to managerial remuneration (29) [See below]
In our opinion, the
Company is not a
nidhi company.
Therefore, the
provisions of clause
Disclosure in auditors report relating to Nidhi Company 3(xii) of the order
are not applicable to
the Company and
hence not
commented upon.
Textual information
Disclosure in auditors report relating to transactions with related parties (30) [See below]
Disclosure in auditors report relating to preferential allotment or private Textual information
placement of shares or convertible debentures (31) [See below]
Disclosure in auditors report relating to non-cash transactions with directors Textual information
or persons connected with him (32) [See below]
According to the
information and
explanations given
to us, the provisions
Disclosure in auditors report relating to registration under section 45-IA of
of section 45-IA of
Reserve Bank of India Act, 1934 the Reserve Bank of
India Act, 1934 are
not applicable to the
Company.

01/04/2020
to
31/03/2021
Disclosure in auditor’s report explanatory [TextBlock] [See below]
Whether companies auditors report order is applicable on company Yes
Whether auditors' report has been qualified or has any reservations or
No
contains adverse remarks
Auditor's qualification(s), reservation(s) or adverse remark(s) in Textual information (34)
auditors' report [See below]
34
Disclosure in auditors report relating to fixed assets

(i)(a) The Company has maintained proper records showing full, including quantitative details and situation of fixed assets. (b) All fixed assets
have not been physically verified by the management during the year but there is a regular programme of verification which, in our opinion, is
reasonable having regard to the size of the Company and the nature of its assets. No material discrepancies were noticed on such verification. (c)
According to the information and explanations given by the management and audit procedures performed by us, the title deeds of immovable
properties included in property, plant and equipment/ fixed assets are held in the name of the company.
Disclosure in auditors report relating to inventories

The management has conducted physical verification of inventory at reasonable intervals except for inventories lying with third parties for which
confirmations have been obtained by the management. Discrepancies noted on physical verification of inventories were material and have been
properly dealt with in the books of account.
Disclosure in auditors report relating to loans

According to the information and explanations given to us and audit procedures performed by us, the Company has not granted any loans, secured
or unsecured to companies, firms, Limited Liability Partnerships or other parties covered in the register maintained under section 189 of the
Companies Act, 2013. Accordingly, the provisions of clause 3(iii)(a), (b) and (c) of the Order are not applicable to the Company and hence not
commented upon.
Disclosure in auditors report relating to compliance with Section 185 and 186 of Companies Act, 2013
Subject to facts stated in Basis for qualified opinion, in our opinion and according to the information and explanations given to us, provisions of
section 185 and 186 of the Companies Act 2013 in respect of loans to directors including entities in which they are interested and in respect of
loans and advances given, investments made and, guarantees, and securities given have been complied with by the company.
Disclosure in auditors report relating to deposits accepted

The Company has not accepted any deposits within the meaning of Sections 73 to 76 of the Act and the Companies (Acceptance of Deposits)
Rules, 2014 (as amended). Accordingly, the provisions of clause 3(v) of the Order are not applicable.
Disclosure in auditors report relating to maintenance of cost records

To the best of our knowledge and as explained, the Central Government has not specified the maintenance of cost records under Section 148(1) of
the Companies Act, 2013, for the products of the Company.
35
Disclosure in auditors report relating to statutory dues [Text Block]

a) Undisputed statutory dues including provident fund, employees’ state insurance, income-tax, sales-tax, service tax duty of custom, duty of
excise, value added tax, goods and service tax, cess and other statutory dues have not been regularly deposited with the appropriate authorities
and there have been serious delays in large number of cases
(b) According to the information and explanations given to usand audit procedures performed by us, undisputed dues in respect of provident fund,
employees’ state insurance, income-tax, service tax, sales-tax, duty of custom, duty of excise, value added tax, goods and service tax, cess and
other statutory dues which were outstanding, at the year end, for a period of more than six months from the date they became payable, are as
follows:-
Amount Period to which the Due Date of

Name of Statute Nature of the Dues
(Rs) amount relates Dates Payment
Employees Provident Funds and Employer and Employee March 19 to

Various -
Miscellaneous Provisions Act, 1952 Contribution to provident fund 1,898,159 March20
GST on Business Auxiliary April 20 to

GST Act 2017 Various
Services 2,997,000 September
(c) According to the information and explanations given to us, there are no dues of income tax, sales-tax, service tax, customs duty, excise duty,
value added tax and cess which have not been deposited on account of any dispute.
Disclosure in auditors report relating to default in repayment of financial dues

In our opinion and according to the information and explanations given by the management, the Company has not defaulted in repayment of loans
or borrowing to a financial institution or bank. The company does not have any debentures outstanding during the year.
Disclosure in auditors report relating to public offer and term loans used for purpose for which those were raised
According to the information and explanations given by the managementand audit procedures performed by us, the terms loans taken in earlier
years were applied for the purpose for which they were obtained. According to the information and explanations given by the managementand
audit procedures performed by us, the company has not raised any money by way of public offer/debt instrument and terms loans, hence reporting
under clause (ix) is not applicable to the company and hence not commented upon.
Disclosure in auditors report relating to fraud by the company or on the company by its officers or its employees
reported during period
Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and according to the
information and explanations given by the management, we report that no fraud by the company or no fraud / material fraud on the company by
the officers and employees of the Company has been noticed or reported during the year
36
Disclosure in auditors report relating to managerial remuneration

According to the information and explanations given by the managementand audit procedures performed by us, the managerial remuneration has
been paid / provided in accordance with the requisite approvals mandated by the provisions of section 197 read with Schedule V to the
Companies Act, 2013.
Disclosure in auditors report relating to transactions with related parties

According to the information and explanations given by the managementand audit procedures performed by us, transactions with the related
parties are in compliance with section 177 and 188 of Companies Act, 2013 where applicable and the details have been disclosed in the notes to
the financial statements, as required by the applicable accounting standards.
Disclosure in auditors report relating to preferential allotment or private placement of shares or convertible
debentures
According to the information and explanations given to us and on an overall examination of the balance sheet, the company has not made any
preferential allotment or private placement of shares or fully or partly convertible debentures during the year under review and hence, reporting
requirements under clause 3(xiv) are not applicable to the company and, not commented upon.
Disclosure in auditors report relating to non-cash transactions with directors or persons connected with him
According to the information and explanations given by the managementand audit procedures performed by us, the Company has not entered into
any non-cash transactions with directors or persons connected with him as referred to in section 192 of Companies Act, 2013.
37
Disclosure in auditor’s report explanatory [Text Block]

INDEPENDENT AUDITOR’S REPORT
To the Members of Cremica Food Industries Limited
Report on the Audit of the Standalone Financial Statements
Qualified Opinion
We have audited the accompanying standalone financial statements of Cremica Food Industries Limited (“the Company”), which comprise the
Balance sheet as atMarch 31,2021, the Statement of Profit and Loss, the Cash Flow Statement for the year then ended, and notes to the financial
statements, including a summary of significant accounting policies and other explanatory information.
In our opinion and to the best of our information and according to the explanations given to us, except for the effects of the matters described in
the ‘Basis for Qualified Opinion’ section of our report, the aforesaid standalonefinancial statements give the information required by the
Companies Act, 2013, as amended (“the Act”) in the manner so required and give a true and fair view in conformity with the accounting
principles generally accepted in India, of the state of affairs of the Company as at March 31, 2021, its loss, its cash flowsfor the year ended on that
date.
Basis for Qualified Opinion
As stated in note no. 39 to the standalone financial statements, as at year end, there is outstanding advance amounting to Rs. 276,128,358
(previous year Rs 317,559,231) given to the wholly owned subsidiary for processing of raw material. In addition, there are other recoverable
balances outstanding amounting to Rs. 161,029,604 (previous year Rs.98,214,235) as at the year. In absence of sufficient appropriate audit
evidence regarding the recoverability of the advance and other recoverable balances for the purpose it was given or otherwise, we are unable to
comment on the consequential impact on both the compliances under section 186 of the Companies Act, 2013 for the advance given
to/recoverable from subsidiary as well as the carrying value of such advances/ recoverable/any exposure in relation to guarantees given and
adjustments, if any, that may be required to be made to the financial statements. Our audit report for the previous year ended March 31, 2020 was
also qualified for the above matter.
We conducted our audit of the standalonefinancial statements in accordance with the Standards on Auditing (SAs),as specified under section
143(10) of the Act. Our responsibilities under those Standards are further described in the ‘Auditor’s Responsibilities for the Audit of the
StandaloneFinancialStatements’section of our report. We are independent of the Company in accordance with the ‘Code of Ethics’issued by the
Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under
the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements
and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified audit
opinion on the standalonefinancial statements.
Emphasis of Matter:
We draw attention to Note 43 of the accompanyingstandalone financial statements explaining that for the year ended March 31, 2021, the
Company has defaulted in holding its Annual General Meeting (AGM) within the time period of nine months (including three months extension)
from the date of its year end, which is in contravention of the relevant provisions of the Companies Act, 2013. As represented to us, the
management of the Company is in the process of taking necessary action for compounding such offence and is of the view that it would not have
any material financial impact in these financial statements and accordingly no adjustments are considered necessary in these financial statements
at this stage. Our opinion is not qualified in respect of this matter
We draw attention to note no. 46 to the standalonefinancial statement, which describes the uncertainties and the management’s assessment of the
impact of COVID-19 pandemic on the Company’s operations, assets, cash flows and results, which is highly dependent on future developments
and circumstances as they evolve. Our opinion is not qualified in respect of this matter.”
We draw attention to Note 44 to the standalone financial statements, which describes the status of setting up of an Industrial unit at Noida under
“Integrated Cold Chain and value Addition Infrastructure” (Scheme) which was approved by Ministry of Food Processing Industries (MoFPI) and
the management assessment for the completion of the above project. Our opinion is not qualified in respect of this matter.
Information other than the financial statements and auditor’s report thereon
The Company’s Board of Directors is responsible for the other information. The other information comprises the Directors’ Report,but does not
include the standalone financial statements and our auditor’s report thereon.
Our opinion on the standalone financial statements does not cover the other information and we do not express any form of assurance conclusion
thereon.
In connection with our audit of the standalone financial statements, our responsibility is to read the other information and, in doing so, consider
whether such other information is materially inconsistent with the standalone financial statements or our knowledge obtained in the audit or
otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this
other information, we are required to report that fact. We have nothing to report in this regard.
38
Responsibilities of the Management for the Standalone Financial Statements
The Company’s Board of Directors is responsible for the matters stated in section 134(5) of the Act with respect to the preparation of these
standalonefinancial statements that give a true and fair view of the financial position, financial performance includingcash flows of the Company
in accordance with the accounting principles generally accepted in India, including the Companies (Accounting Standards) Rules, 2006 (as
amended) specified under section 133 of the Act, read with the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance
of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and
detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are
reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively
for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial
statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the standalonefinancial statements, management is responsible for assessing the Company’s ability to continue as a going concern,
disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to
liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Those Board of Directors are also responsible for overseeing the Company’s financial reporting process.
Auditor’s Responsibilities for the Audit of the StandaloneFinancial Statements
Our objectives are to obtain reasonable assurance about whether the standalonefinancial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of
assurance,but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basis of these standalone financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We
also:
Identify and assess the risks of material misstatement of the standalonefinancial statements, whether due to fraud or error, design and perform
audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk
of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances.
Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial
controls system in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by
management.
Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained,
whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a
going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures
in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained
up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the standalone financial statements, including the disclosures, and whether the
standalonefinancial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant
audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding
independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and
where applicable, related safeguards.
Report on Other Legal and Regulatory Requirements
As required by the Companies (Auditor’s Report) Order, 2016 (“the Order”), issued by the Central Government of India in terms of sub-section
(11) of section 143 of the Act, we give in the “Annexure 1”a statement on the matters specified in paragraphs 3 and 4 of the Order.
As required by Section 143(3) of the Act, we report that:
We have sought and except for the matter described in the Basis for Qualified Opinion paragraph, obtained all the information and explanations
which to the best of our knowledge and belief were necessary for the purposes of our audit;
Except for the matter described in the Basis for Qualified Opinion paragraph, in our opinion, proper books of account as required by law have
been kept by the Company so far as it appears from our examination of those books;
The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are in agreement with the books of
account;
Except for the effects of the matter described in the Basis for Qualified Opinion paragraph above, in our opinion, the aforesaid financial
39
statements comply with the Companies (Accounting Standards) Rules, 2006 (as amended) specified under section 133 of the Act, read with the
Companies (Accounts) Rules, 2014;
The matter described in the Basis for Qualified Opinion and emphasis of matters paragraph above, in our opinion, may have an adverse effect on
the functioning of the Company;
On the basis of the written representations received from the directors as on March 31, 2021 taken on record by the Board of Directors, none of
the directors is disqualified as on March 31, 2021 from being appointed as a director in terms of Section 164 (2) of the Act;
The qualification relating to the maintenance of accounts and other matters connected therewith are as stated in the Basis for Qualified Opinion
paragraph above;
With respect to the adequacy of the internal financial controls over financial reporting of the Company with reference to these standalonefinancial
statements and the operating effectiveness of such controls, refer to our separate Report in “Annexure 2” to this report;
In our opinion, the managerial remuneration for the year ended March 31, 2021 has been paid / provided by the Company to its directors in
accordance with the provisions of section 197 read with Schedule V to the Act.
With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules,
2014, as amended in our opinion and to the best of our information and according to the explanations given to us:
The Company has disclosed the impact of pending litigations on its financial position in its standalonefinancial statements – Refer Note no.28 to
the standalonefinancial statements;
The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses;
There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.
For S.R. Batliboi& CO. LLP

Chartered Accountants
ICAI Firm Registration Number: 301003E/E300005
per Anil Mehta

Partner
Membership Number: 095812
UDIN: 22095812ACFMFM4387
Place of Signature: New Delhi
Date: February 14, 2022
ANNEXURE 2 TO THE INDEPENDENT AUDITOR’S REPORT OF EVEN DATE ON THE STANDALONE FINANCIAL STATEMENTS
OF CREMICA FOOD INDUSTRIES LIMTED
Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Act”)
We were engaged to audit the internal financial controls with reference to standalone financial statements of Cremica Food Industries Limited
(“the Company”) as of March 31, 2021, in conjunction with our audit of the standalone financial statements of the Company for the year ended on
that date.
Management’s Responsibility for Internal Financial Controls
The company’s management is responsible for establishing and maintaining internal financial controls based on the internal control over financial
reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of
Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India (‘ICAI’). These responsibilities
include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the
orderly and efficient conduct of its business, including adherence to the Company’s policies, the safeguarding of its assets, the prevention and
detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial
information, as required under the Companies Act, 2013. Also refer note 46 (b) to the standalone financial statement.
Auditor’s Responsibility
Our responsibility is to express an opinion on the Company's internal financial controls with reference to these standalone financial statements
based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial
Reporting (the “Guidance Note”) and the Standards on Auditing as specified under section 143(10) of the Companies Act, 2013, to the extent
applicable to an audit of internal financial controlsand, both issued by the Institute of Chartered Accountants of India.
40
Because of the matter described in Disclaimer of Opinion paragraph below, we were not able to obtain sufficient appropriate audit evidence to
provide a basis for an audit opinion on internal financial controls with reference to these standalone financial statements of the Company.
Meaning of Internal Financial Controls Over Financial Reporting with Reference to these Standalone Financial Statements
A company's internal financial control with reference to these standalone financial statements is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with
generally accepted accounting principles. A company's internal financial control with reference to these standalone financial statements includes
those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions
and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation
of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being
made only in accordance with authorisations of management and directors of the company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorised acquisition, use, or disposition of the company's assets that could have a material effect on the
financial statements.
Disclaimer of Opinion
According to the information and explanation given to us, the Company has not established its internal financial control with reference to these
standalone financial statements on criteria based on or considering the essential components of internal control stated in the Guidance Note on
Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India. Because of this reason,
we are unable to obtain sufficient appropriate audit evidence to provide a basis for our opinion whether the Company had adequate internal
financial controls with reference to these standalone financial statements as at March 31, 2021 and whether such internal financial controls were
operating effectively. Accordingly we do not express an opinion on Internal Financial Controls Over Financial Reporting with reference to these
standalone financial statements. This was also the subject matter of disclaimer by us in previous year as well and same has not been remediated
during the year.
Explanatory paragraph
We also have audited, in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India, as specified under
Section 143(10) of the Act, the standalone financial statements of Cremica Food Industries Limited, which comprise the Balance Sheet as at
March 31, 2021, and the related Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant
accounting policies and other explanatory information and our audit report dated February14, 2022 expressed qualified opinion along with
emphasis of mattersthereon. We have considered the disclaimer of opinion reported above in determining the nature, timing, and extent of audit
tests applied in our audit of the March 31, 2021financial statements of the Company and this report does not affect our opinion on the standalone
financial statements of the Company.
For S.R. Batliboi & CO. LLP

Chartered Accountants
ICAI Firm Registration Number: 301003E/E300005
per Anil Mehta

Partner
Membership Number: 095812
Place of Signature: New Delhi
Date: February 14, 2022
Auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report

(a) We draw attention to Note 43 of the accompanyingstandalone financial statements explaining that for the year ended March 31, 2021, the
Company has defaulted in holding its Annual General Meeting (AGM) within the time period of nine months (including three months extension)
from the date of its year end, which is in contravention of the relevant provisions of the Companies Act, 2013. As represented to us, the
management of the Company is in the process of taking necessary action for compounding such offence and is of the view that it would not have
any material financial impact in these financial statements and accordingly no adjustments are considered necessary in these financial statements
at this stage. Our opinion is not qualified in respect of this matter (b) We draw attention to note no. 46 to the standalonefinancial statement, which
describes the uncertainties and the management’s assessment of the impact of COVID-19 pandemic on the Company’s operations, assets, cash
flows and results, which is highly dependent on future developments and circumstances as they evolve. Our opinion is not qualified in respect of
this matter.” (c) We draw attention to Note 44 to the standalone financial statements, which describes the status of setting up of an Industrial unit
at Noida under “Integrated Cold Chain and value Addition Infrastructure” (Scheme) which was approved by Ministry of Food Processing
Industries (MoFPI) and the management assessment for the completion of the above project. Our opinion is not qualified in respect of this matter.
41
[400500] Disclosures - Secretarial audit report
Details of signatories of secretarial audit report [Table] ..(1)

Signatories of secretarial audit report [Axis] ONE
01/04/2020
to
31/03/2021
Details of signatories of secretarial audit report [Abstract]
Details of signatories of secretarial audit report [LineItems]
Category of secretarial auditor Individual
D M K
Name of secretarial audit firm ASSOCIATES
Name of secretarial auditor signing report MONIKA KOHLI
Membership number of secretarial auditor 5480
Certificate of practice number of secretarial auditor 4936
Date of signing secretarial audit report 14/02/2022

01/04/2020
to
31/03/2021
Disclosure in secretarial audit report explanatory [TextBlock] [See below]
Whether secretarial audit report is applicable on company Yes
Whether secretarial audit report has been qualified or has any
No
observation or other remarks
42
Disclosure in secretarial audit report explanatory [Text Block]

Annexure C
FORM NO. MR-3
SECRETARIAL AUDIT REPORT

FOR THE FINANCIAL YEAR ENDED 31.03.2021
[Pursuant to section 204(1) of the Companies Act, 2013 and Rule No.9 of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules,2014]
To,
The Members,
Jalandhar - 144410
We have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by
Cremica Food Industries Limited- CIN U15400PB2013PLC037640 (hereinafter called the Company). Secretarial Audit was conducted in a
manner that provided us a reasonable basis for evaluating the corporate conduct/statutory compliances and expressing our opinion thereon.
Based on our verification of the Company’s books, papers, minute books, forms and returns filed and other records maintained by the Company
and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of Secretarial Audit, we
hereby report that in our opinion, the Company has, during the audit period covering the financial year ended on March 31, 2021 (Audit Period)
complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance-mechanism in
place to the extent, in the manner and subject to the reporting made hereinafter:
We have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company for the financial year
ended on March 31, 2021 according to the provisions of:
The Companies Act, 2013 (the Act) and the rules made thereunder;
The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made thereunder; (Not applicable to the Company during the Audit
Period);
The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;
Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to the extent of Foreign Direct Investment (FDI),
Overseas Direct Investment(ODI) and External Commercial Borrowings(ECB); (No FDI and ECB was taken and no ODI was made by the
Company during the Audit Period)
The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act’):-
The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011; (Not applicable to the
Company during the Audit Period);
The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015; (Not applicable to the Company during the Audit
Period);
The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018; (Not applicable to the Company
during the Audit Period);
The Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014; (Not applicable to the Company during the
Audit Period);
The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008; (Not applicable to the Company during the
Audit Period);
The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies Act
and dealing with client; (Not applicable as the Company is not registered as Registrars to an Issue and Share Transfer Agent);
The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009; and (Not applicable to the Company during the
Audit Period);
The Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018; (Not applicable to the Company during the Audit
Period);
43
We have also examined compliance with the applicable clauses of the following:
Secretarial Standards issued by The Institute of Company Secretaries of India (SS-1 and SS-2).
The SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 and Listing Agreements entered into by the Company with Stock
Exchange(s), if applicable; (Not applicable to the Company during the Audit Period);
(vi) OTHER LAWS SPECIFICALLY APPLICABLE TO THE COMPANY AS IDENTIFIED BY THE MANAGEMENT
Foods Safety & Standards Act, 2006
Foods Safety & Standards (Licensing & Registration of Food Business), Regulations, 2011;
During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc.
mentioned above subject to the following observations:
Pursuant to Section 177 (2) of the Companies Act, 2013 and rules made thereunder, the Audit Committee of the Company shall comprise of
company shall comprise of three or more non-executive directors out of which not less than one-half shall be Independent directors.However, the
Fund on 03.12.2021 as against 30.09.2021
Based on the information received and records maintained, we further report that:
The Board of Directors of the Company is constituted with proper balance of Executive, Non-Executive, woman and Independent directors. The
changes in the composition of the Board of Directors that took place during the period under review were carried out in compliance with the
provisions of the Act except the observations made above.
Adequate notice of at least seven days or less was given to all directors to schedule the Board Meetings along with agenda and detailed notes on
agenda and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for
meaningful participation at the meeting in compliance of the Act.
Majority decision is carried through and recorded in the minutes of the meetings. Further as informed and verified from minutes, no dissent was
given by any director in respect of the resolutions passed in the board and the committee meetings.
Based on the compliance mechanism established by the company and on the basis of the compliance report(s) made by Mr. Mohit Kukreja,
Company Secretary and Unit head (s) of the company taken on record by the Board of Directors at their meeting (s), we further report that there
are adequate systems and processes in the Company commensurate with the size and operations of the Company to monitor and ensure
compliance with applicable laws, rules, regulations and guidelines.
We further report that during the audit period the company has not incurred any specific event/ action that can have major bearing on the
company’s affairs in pursuance of above referred laws, rules, regulations; guidelines, standards etc.
FOR DMK ASSOCIATES

COMPANY SECRETARIES
Date: 14.02.2022
Place: New Delhi
UDIN: F005480C002583132
(MONIKA KOHLI)
PARTNER
CP No. 4936
FCS No. 5480
44
ANNEXURE 1
To,
The Members,
Jalandhar - 144410
Sub: Our Secretarial Audit for the Financial Year ended March 31, 2021 of even date is to be read along with this letter.
Maintenance of secretarial record is the responsibility of the management of the Company. Our responsibility is to express an opinion on these
secretarial records based on our Audit.
We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness of the contents of the
secretarial records. We believe that the processes and practices, we followed provide a reasonable basis our opinion.
We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company.
Wherever required, we have obtained the Management representation about the compliance of laws, rules, and regulations and happening of
events etc.
The Compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of the management.
Our examination was limited to the verification of the procedures on test basis.
The Secretarial Audit report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness with which the
management has conducted the affairs of the Company.
As per the information provided by the Company, there are certain disputes cases filed by or against the Company, which are currently lying
pending with the various Courts. However, as informed, these cases have no major impact on the Company.
FOR DMK ASSOCIATES

COMPANY SECRETARIES
Date: 14.02.2022
Place: New Delhi
UDIN: F005480C002583132
(MONIKA KOHLI)
PARTNER
CP No. 4936
FCS No. 5480
45
[100100] Balance sheet

31/03/2021 31/03/2020 31/03/2019
Balance sheet [Abstract]
Equity and liabilities [Abstract]
Shareholders' funds [Abstract]
Share capital 7,24,51,580 7,24,51,580
Reserves and surplus 39,85,66,639 57,47,82,692.81
Total shareholders' funds 47,10,18,219 64,72,34,272.81
Share application money pending allotment 0 0
Minority interest 0 0
Non-current liabilities [Abstract]
Long-term borrowings 15,48,43,913 7,08,91,424
Other long-term liabilities 0 0
Long-term provisions 2,79,26,116 2,69,46,396
Total non-current liabilities 18,27,70,029 9,78,37,820
Current liabilities [Abstract]
Short-term borrowings 30,08,71,952 30,17,49,990
Trade payables (A) 65,56,12,755

62,61,68,008.19
Other current liabilities 12,42,78,502 9,22,20,431

Short-term provisions 4,15,18,350 2,72,13,679
Total current liabilities 112,22,81,559 104,73,52,108.19
Total equity and liabilities 177,60,69,807 179,24,24,201
Assets [Abstract]
Non-current assets [Abstract]
Fixed assets [Abstract]
Tangible assets 28,74,05,995 31,75,35,588 39,90,27,530
Intangible assets 28,43,818 37,95,424 48,01,035
Tangible assets capital work-in-progress (B) 4,40,18,181.84

4,89,00,325
Total fixed assets 33,42,67,994.84 37,02,31,337

Non-current investments 24,51,40,238 24,51,40,238
Long-term loans and advances 42,01,05,583 42,17,95,663
Other non-current assets 2,97,56,597.84 90,85,339
Total non-current assets 102,92,70,413.68 104,62,52,577
Current assets [Abstract]
Current investments 0 0
Inventories 35,17,31,519.44 37,05,51,372
Trade receivables 17,31,46,116.88 17,46,36,529
Cash and bank balances 35,18,920 5,64,05,722
Short-term loans and advances 20,12,40,202 14,11,09,331
Other current assets 1,71,62,635 34,68,670
Total current assets 74,67,99,393.32 74,61,71,624
Total assets 177,60,69,807 179,24,24,201
46
Footnotes
(A)
As at As at
March 31, March 31,
2021 2020
Trade payables
- Total outstanding dues of micro enterprises and small enterprises

79904392 58587572
(Refer note 30)
- Total outstanding dues to other than micro enterprises and small

575708363 567580436
enterprises
(A) 655612755 626168008
(B)
March 31, 2021 March 31, 2020
Capital work in progress (Refer Note 44) 44018182 48900325
[400300] Disclosures - Signatories of financial statements
Details of directors signing financial statements [Table] ..(1)

Directors signing financial statements [Axis] ONE TWO
01/04/2020 01/04/2020
to to
31/03/2021 31/03/2021
Details of signatories of financial statements [Abstract]
Details of directors signing financial statements [Abstract]
Details of directors signing financial statements [LineItems]
Name of director signing financial statements [Abstract]
First name of director AKSHAY GEETA
Last name of director BECTOR BACTOR
Designation of director Managing Director Whole time Director
Director identification number of director 00058877 00108515
Date of signing of financial statements by director 14/02/2022 14/02/2022

01/04/2020
to
31/03/2021
Name of company secretary Mohit Kukreja
Date of signing of financial statements by company secretary 14/02/2022
Name of chief financial officer Sudhir Barik
Permanent account number of chief financial officer ABEPB1144M
Date of signing of financial statements by chief financial officer 14/02/2022
47
[100400] Cash flow statement, indirect

01/04/2020 01/04/2019
to to 31/03/2019
31/03/2021 31/03/2020
Statement of cash flows [Abstract]
Whether cash flow statement is applicable on company Yes Yes
Cash flows from used in operating activities [Abstract]
Profit before extraordinary items and tax -17,62,90,633 2,24,44,103.19
Adjustments for reconcile profit (loss) [Abstract]
Adjustments to profit (loss) [Abstract]
Adjustments for finance costs 6,21,64,574 4,76,68,738
Adjustments for depreciation and amortisation expense 3,90,18,652 4,89,30,723
Other adjustments to reconcile profit (loss) (A) 7,37,844

-4,36,75,870
Other adjustments for non-cash items 5,41,81,234

(B) 2,55,73,326
Total adjustments to profit (loss) 15,61,02,304 7,84,96,917
Adjustments for working capital [Abstract]
Adjustments for decrease (increase) in inventories 90,73,763 -7,65,91,068
Adjustments for decrease (increase) in trade receivables -2,70,45,046 -1,06,15,012
Adjustments for decrease (increase) in other current assets -7,87,06,625 -16,67,24,437
Adjustments for increase (decrease) in trade payables 3,00,48,188 9,35,81,310
Adjustments for provisions 2,84,391 83,94,108
Total adjustments for working capital -6,63,45,329 -15,19,55,099
Total adjustments for reconcile profit (loss) 8,97,56,975 -7,34,58,182
Net cash flows from (used in) operations -8,65,33,658 -5,10,14,078.81
Interest received -45,57,233 -41,53,370
Income taxes paid (refund) 4,69,437 60,74,370
Net cash flows from (used in) operating activities before extraordinary
-9,15,60,328 -6,12,41,818.81
items
Net cash flows from (used in) operating activities -9,15,60,328 -6,12,41,818.81
Cash flows from used in investing activities [Abstract]
Proceeds from sales of tangible assets 16,50,000 9,76,11,082
Purchase of tangible assets 57,95,726 2,55,95,095
Interest received 59,07,477 23,84,247
Other inflows (outflows) of cash 3,73,46,499 18,52,443
Net cash flows from (used in) investing activities before extraordinary
3,91,08,250 7,62,52,677
items
Net cash flows from (used in) investing activities 3,91,08,250 7,62,52,677
Cash flows from used in financing activities [Abstract]
Proceeds from issuing shares 0 1,01,932
Repayments of borrowings -11,54,15,717 -3,30,15,775
Dividends paid 3,25,920 3,62,574
Interest paid 6,30,12,022 4,84,06,306
Net cash flows from (used in) financing activities before extraordinary
5,20,77,775 -1,56,51,173
items
Net cash flows from (used in) financing activities 5,20,77,775 -1,56,51,173
Net increase (decrease) in cash and cash equivalents before effect of
-3,74,303 -6,40,314.81
exchange rate changes
Net increase (decrease) in cash and cash equivalents -3,74,303 -6,40,314.81
Cash and cash equivalents cash flow statement at end of period 35,18,920 38,93,223 45,33,537
48
Footnotes
(A)
Employee Stock Compensation Expense 400499
(Profit)/Loss on sale of property, plant and equipments 337345
(B)
Provision for doubtful debts and advances 4,311,273 9,749,323
Provision for Contingency 13,500,000 -
Bad debts and advances written off - 315,708
Provision for obsolence of inventory created/ (reversed) 7,166,366 1,188,150
Provision/ Liability no longer required written back - (2,563,684)
Unrealised exchange gain 595,687 (1,398,358)
[200100] Notes - Share capital
Disclosure of shareholding more than five per cent in company [Table] ..(1)
Classes of share capital [Axis] Equity shares 1 [Member]
Name of shareholder [Axis] Shareholder 1 [Member] Shareholder 2 [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Disclosure of shareholding more than five per cent in
company [Abstract]
Disclosure of shareholding more than five per cent
in company [LineItems]
Type of share EQUITY SHARES EQUITY SHARES EQUITY SHARES EQUITY SHARES
India Agri Business India Agri Business
Name of shareholder AKSHAY BECTOR AKSHAY BECTOR Fund-II Limited, Fund-II Limited,
Mauritius Mauritius
PAN of shareholder ABJPB4769K ABJPB4769K
Country of incorporation or residence of
INDIA INDIA MAURITIUS MAURITIUS
shareholder
Number of shares held in company [shares] 40,06,830 [shares] 40,06,830 [shares] 25,50,880 [shares] 25,50,880
Percentage of shareholding in company 55.30% 55.30% 35.20% 35.21%
49
Disclosure of classes of share capital [Table] ..(1)

Equity shares
Classes of share capital [Axis] Share capital [Member]
[Member]
01/04/2020 01/04/2019 01/04/2020
to to 31/03/2019 to
31/03/2021 31/03/2020 31/03/2021
Disclosure of classes of share capital [Abstract]
Disclosure of classes of share capital [LineItems]
Number of shares authorised [shares] 1,00,00,000 [shares] 1,00,00,000 [shares] 1,00,00,000
Value of shares authorised 10,00,00,000 10,00,00,000 10,00,00,000
Number of shares issued [shares] 72,45,158 [shares] 72,45,158 [shares] 72,45,158
Value of shares issued 7,24,51,580 7,24,51,580 7,24,51,580
Number of shares subscribed and fully paid [shares] 72,45,158 [shares] 72,45,158 [shares] 72,45,158
Value of shares subscribed and fully paid 7,24,51,580 7,24,51,580 7,24,51,580
Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0 0
Total number of shares subscribed [shares] 72,45,158 [shares] 72,45,158 [shares] 72,45,158
Total value of shares subscribed 7,24,51,580 7,24,51,580 7,24,51,580
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 72,45,158 [shares] 72,45,158 [shares] 72,45,158
Value of shares called 7,24,51,580 7,24,51,580 7,24,51,580
Value of shares paid-up 7,24,51,580 7,24,51,580 7,24,51,580
Reconciliation of number of shares outstanding
[Abstract]
Changes in number of shares outstanding
[Abstract]
Increase in number of shares outstanding
[Abstract]
Number of shares issued in public offering [shares] 0 [shares] 0 [shares] 0
Number of shares issued as bonus shares [shares] 0 [shares] 0 [shares] 0
Number of shares issued in private
placement arising out of conversion of
[shares] 0 [shares] 14,67,506 [shares] 0
debentures preference shares during
period
Number of shares allotted for
contracts without payment received [shares] 0 [shares] 0 [shares] 0
in cash
Number of shares issued under scheme of
[shares] 0 [shares] 0 [shares] 0
amalgamation
Number of other issues of shares [shares] 0 [shares] 0 [shares] 0
Number of shares issued under employee
stock option plan
Total aggregate number of shares issued
[shares] 0 [shares] 14,68,398 [shares] 0
during period
Decrease in number of shares during period
[Abstract]
Other decrease in number of shares [shares] 0 [shares] 18,12,869
Total decrease in number of shares during
[shares] 0 [shares] 18,12,869
period
Total increase (decrease) in number of
[shares] 0 [shares] -3,44,471 [shares] 0
shares outstanding
Number of shares outstanding at end of period [shares] 72,45,158 [shares] 72,45,158 [shares] 75,89,629 [shares] 72,45,158
Reconciliation of value of shares outstanding
[Abstract]
Changes in share capital [Abstract]
Increase in share capital during period
[Abstract]
Amount of public issue during period 0 0 0
Amount of bonus issue during period 0 0 0
Amount of private placement issue
arising out of conversion of debentures 0 1,46,75,060 0
preference shares during period
Amount of issue allotted for
contracts without payment 0 0 0
received in cash during period
50
Amount of issue under scheme of

0 0 0
amalgamation during period
Amount of other issues during period 0 0 0
Amount of employee stock option plan
0 8,920 0
issued during period
Total aggregate amount of increase in
0 1,46,83,980 0
share capital during period
Decrease in share capital during period
[Abstract]
Other decrease in amount of shares 0 1,81,28,690
Total decrease in share capital during
0 1,81,28,690
period
Total increase (decrease) in share capital 0 -34,44,710 0
Share capital at end of period 7,24,51,580 7,24,51,580 7,24,51,580
Rights preferences and restrictions attaching
to class of share capital
Details of application money received for
allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of
securities and due for refund and interest
accrued thereon [Abstract]
Total application money received for
allotment of securities and due for refund 0 0 0
and interest accrued thereon
Description of whether company have
sufficient authorised capital to cover
proposed share capital amount resulting from
allotment
Over due period for which application
money is pending prior to allotment of
shares
Reason for over due period for which
application money is pending prior to
allotment of shares
51

Classes of share capital [Axis] Equity shares [Member] Equity shares 1 [Member]
01/04/2019 01/04/2020 01/04/2019
to 31/03/2019 to to
31/03/2020 31/03/2021 31/03/2020
Type of share EQUITY SHARES EQUITY SHARES
Number of shares authorised [shares] 80,00,000 [shares] 1,00,00,000 [shares] 80,00,000
Value of shares authorised 8,00,00,000 10,00,00,000 8,00,00,000
Number of shares issued [shares] 72,45,158 [shares] 72,45,158 [shares] 72,45,158
Value of shares issued 7,24,51,580 7,24,51,580 7,24,51,580
Number of shares subscribed and fully paid [shares] 72,45,158 [shares] 72,45,158 [shares] 72,45,158
Value of shares subscribed and fully paid 7,24,51,580 7,24,51,580 7,24,51,580
Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0 0
Total number of shares subscribed [shares] 72,45,158 [shares] 72,45,158 [shares] 72,45,158
Total value of shares subscribed 7,24,51,580 7,24,51,580 7,24,51,580
Number of shares paid-up [shares] 72,45,158 [shares] 72,45,158 [shares] 72,45,158
Value of shares called 7,24,51,580 7,24,51,580 7,24,51,580
Value of shares paid-up 7,24,51,580 7,24,51,580 7,24,51,580
Par value per share [INR/shares] 10 [INR/shares] 10
Amount per share called in case shares not fully
[INR/shares] 0 [INR/shares] 0
called
[Abstract]
[Abstract]
[Abstract]
Number of shares issued in public offering [shares] 0 [shares] 0 [shares] 0
Number of shares issued as bonus shares [shares] 0 [shares] 0 [shares] 0
Number of shares issued in private
placement arising out of conversion of
[shares] 14,67,506 [shares] 0 [shares] 14,67,506
debentures preference shares during
period
contracts without payment received [shares] 0 [shares] 0 [shares] 0
in cash
amalgamation
Number of other issues of shares [shares] 0 [shares] 0 [shares] 0
Number of shares issued under employee
stock option plan
Total aggregate number of shares issued
during period
shares outstanding
Number of shares outstanding at end of period [shares] 72,45,158 [shares] 57,76,760 [shares] 72,45,158 [shares] 72,45,158
[Abstract]
[Abstract]
Amount of public issue during period 0 0 0
Amount of bonus issue during period 0 0 0
Amount of private placement issue
arising out of conversion of debentures 1,46,75,060 0 1,46,75,060
preference shares during period
contracts without payment 0 0 0
0 0 0
Amount of other issues during period 0 0 0
52
Amount of employee stock option plan

8,920 0 8,920
issued during period
Total aggregate amount of increase in
1,46,83,980 0 1,46,83,980
share capital during period
Total increase (decrease) in share capital 1,46,83,980 0 1,46,83,980
Share capital at end of period 7,24,51,580 5,77,67,600 7,24,51,580 7,24,51,580
Rights preferences and restrictions attaching Textual information Textual information
to class of share capital (36) [See below] (37) [See below]
allotment of securities and due for refund 0 0 0
YES YES
allotment
money is pending prior to allotment of NA NA
shares
application money is pending prior to NA NA
allotment of shares
53

Equity shares 1
Classes of share capital [Axis] Preference shares [Member]
[Member]
01/04/2020 01/04/2019
31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020
Number of shares authorised [shares] 0 [shares] 20,00,000
Value of shares authorised 0 2,00,00,000
Number of shares issued [shares] 0 [shares] 0
Value of shares issued 0 0
Number of shares subscribed and fully paid [shares] 0 [shares] 0
Value of shares subscribed and fully paid 0 0
Number of shares subscribed but not fully paid [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0
Total number of shares subscribed [shares] 0 [shares] 0
Total value of shares subscribed 0 0
Number of shares paid-up [shares] 0 [shares] 0
Value of shares called 0 0
Value of shares paid-up 0 0
[Abstract]
[Abstract]
[Abstract]
Number of shares issued in public offering [shares] 0 [shares] 0
Number of shares issued as bonus shares [shares] 0 [shares] 0
contracts without payment received [shares] 0 [shares] 0
in cash
[shares] 0 [shares] 0
amalgamation
Number of other issues of shares [shares] 0 [shares] 0
Decrease in number of shares during period
[Abstract]
Total decrease in number of shares during
[shares] 0 [shares] 18,12,869
period
[shares] 0 [shares] -18,12,869
shares outstanding
Number of shares outstanding at end of period [shares] 57,76,760 [shares] 0 [shares] 0 [shares] 18,12,869
[Abstract]
[Abstract]
Amount of public issue during period 0 0
Amount of bonus issue during period 0 0
contracts without payment 0 0
0 0
Amount of other issues during period 0 0
Decrease in share capital during period
[Abstract]
Total decrease in share capital during
0 1,81,28,690
period
Total increase (decrease) in share capital 0 -1,81,28,690
Share capital at end of period 5,77,67,600 0 0 1,81,28,690
54
Rights preferences and restrictions attaching

to class of share capital
allotment of securities and due for refund 0 0
allotment
money is pending prior to allotment of
shares
application money is pending prior to
allotment of shares
55

Classes of share capital [Axis] Preference shares 1 [Member]
01/04/2020 01/04/2019
to to 31/03/2019
31/03/2021 31/03/2020
2% Compulsory 2% Compulsory
Type of share convertible cumulative convertible cumulative
preference shares preference shares
Number of shares authorised [shares] 0 [shares] 20,00,000
Value of shares authorised 0 2,00,00,000
Number of shares issued [shares] 0 [shares] 0
Value of shares issued 0 0
Number of shares subscribed and fully paid [shares] 0 [shares] 0
Value of shares subscribed and fully paid 0 0
Number of shares subscribed but not fully paid [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0
Total number of shares subscribed [shares] 0 [shares] 0
Total value of shares subscribed 0 0
Number of shares paid-up [shares] 0 [shares] 0
Value of shares called 0 0
Value of shares paid-up 0 0
Par value per share [INR/shares] 0 [INR/shares] 10
Amount per share called in case shares not fully called [INR/shares] 0 [INR/shares] 0
Reconciliation of number of shares outstanding [Abstract]
Changes in number of shares outstanding [Abstract]
Increase in number of shares outstanding [Abstract]
Number of shares issued in public offering [shares] 0 [shares] 0
Number of shares issued as bonus shares [shares] 0 [shares] 0
Number of shares allotted for contracts without payment
[shares] 0 [shares] 0
received in cash
Number of shares issued under scheme of amalgamation [shares] 0 [shares] 0
Number of other issues of shares [shares] 0 [shares] 0
Decrease in number of shares during period [Abstract]
Total decrease in number of shares during period [shares] 0 [shares] 18,12,869
Total increase (decrease) in number of shares outstanding [shares] 0 [shares] -18,12,869
[shares]
Number of shares outstanding at end of period [shares] 0 [shares] 0
18,12,869
Reconciliation of value of shares outstanding [Abstract]
Increase in share capital during period [Abstract]
Amount of public issue during period 0 0
Amount of bonus issue during period 0 0
Amount of issue allotted for contracts without payment
0 0
Amount of issue under scheme of amalgamation during period 0 0
Amount of other issues during period 0 0
Decrease in share capital during period [Abstract]
Total decrease in share capital during period 0 1,81,28,690
Total increase (decrease) in share capital 0 -1,81,28,690
Share capital at end of period 0 0 1,81,28,690
Rights preferences and restrictions attaching to class of share Textual information (38) Textual information (39)
capital [See below] [See below]
Details of application money received for allotment of
securities and due for refund and interest accrued thereon
[Abstract]
Application money received for allotment of securities
and due for refund and interest accrued thereon [Abstract]
Total application money received for allotment of
securities and due for refund and interest accrued 0 0
thereon
56
Description of whether company have sufficient

authorised capital to cover proposed share capital YES YES
amount resulting from allotment
Over due period for which application money is pending prior
NA NA
to allotment of shares
Reason for over due period for which application money is
NA NA
pending prior to allotment of shares

01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of notes on share capital explanatory [TextBlock] [See below]
Whether there are any shareholders holding more than five per cent
Yes Yes
shares in company
Number of persons on private placement of equity share 0 0
Number of persons on private placement of preference share 0 0
Whether money raised from public offering during year No No
Amount raised from public offering during year 0 0
Amount utilised towards specified purposes for public offering 0 0
Amount remaining unutilised received in respect of public offering 0 0
Rights preferences and restrictions attaching to class of share capital

The Company has only one class of equity shares having a par value of Rs.10/- per share. Each holder of equity shares is entitled to one vote per
share. The Company declares and pays dividend in Indian rupees. The dividend proposed (if any) by board of director is subject to approval of the
shareholder in the ensuing annual general meeting.

The Company has only one class of equity shares having a par value of Rs.10/- per share. Each holder of equity shares is entitled to one vote per
share. The Company declares and pays dividend in Indian rupees. The dividend proposed (if any) by board of director is subject to approval of the
shareholder in the ensuing annual general meeting.

The Company has 1,812,869 CCCPS of Rs. 10/- each fully paid-up at a premium of Rs. 282/- per share. CCCPS carry cumulative coupon @ 2%.
Each of CCCPS held by investor shall be entitled to a rate of dividend equivalent to a rate of dividend declared by the Board on the Equity Shares.
The dividend payable on CCCPS shall be cumulative in nature. The dividend proposed by the Board of Directors is subject to the approval of the
shareholders in the ensuring Annual General Meeting. CCCPS were due for the conversion into equity shares during the financial year 2019-20
and accordingly these CCCPS has been converted in to 1,467,506 equity shares of Rs. 10 each fully paid up on February 25, 2020 at a premium of
Rs 2.35 per share.

The Company has 1,812,869 CCCPS of Rs. 10/- each fully paid-up at a premium of Rs. 282/- per share. CCCPS carry cumulative coupon @ 2%.
Each of CCCPS held by investor shall be entitled to a rate of dividend equivalent to a rate of dividend declared by the Board on the Equity Shares.
The dividend payable on CCCPS shall be cumulative in nature. The dividend proposed by the Board of Directors is subject to the approval of the
shareholders in the ensuring Annual General Meeting. CCCPS were due for the conversion into equity shares during the financial year 2019-20
and accordingly these CCCPS has been converted in to 1,467,506 equity shares of Rs. 10 each fully paid up on February 25, 2020 at a premium of
Rs 2.35 per share.
57
Disclosure of notes on share capital explanatory [Text Block]
3. Share Capital
As at As at
March 31, March 31,
2021 2020
Authorized share capital:
10,000,000 (March 31, 2020: 8,000,000) equity

100000000 80000000
shares of Rs.10/- each
Nil (March 31, 2020: 2,000,000) Series “A” 2%

compulsory convertible
cumulative preference shares (CCCPS) of Rs.10/-

0 20000000
each
Issued, subscribed and fully paid-up share capital
7,245,158 (March 31, 2020: 7,245,158) equity

72451580 72451580
shares of Rs.10/- each
(a) Reconciliation of shares outstanding at the

beginning and at the end of the reporting year
As at As at
(i) Equity shares March 31, March 31,
2021 2020
Number of Number of
Amount Amount
shares shares
At the beginning of the year 7245158 72451580 5776760 57767600
Add: Issued during the year against conversion of

0 0 1467506 14675060
CCCPS
58
Add:- Issue against ESOP 0 0 892 8920
Outstanding at the end of the year 7245158 72451580 7245158 72451580
(ii) 2% Compulsory convertible cumulative

preference shares
As at As at
March 31, March 31,
2021 2020
Number of Number of
Amount Amount
shares shares
At the beginning of the year 0 0 1812869 18128690
Less: Converted during the year 0 0 -1812869 -18128690
Outstanding at the end of the year 0 0 0 0
(b) Terms/rights attached to equity shares
The Company has only one class of equity shares

having a par value of Rs.10/- per share. Each holder
of equity shares is entitled to one vote per share.
The Company declares and pays dividend in Indian
rupees. The dividend proposed (if any) by board of
director is subject to approval of the shareholder in
the ensuing annual general meeting.
In the event of liquidation of the Company, the
holders of equity share will be entitled to receive the
remaining assets of the Company after distribution of
all preferential amounts. The distribution will be in
proportion to the number of equity shares held by
the equity shareholders.
(c) Terms of conversion of 2% Compulsory

Convertible Cumulative Preference shares (CCCPS)
Till the previous year (upto February 25, 2020), the

Company had 1,812,869 CCCPS of Rs. 10/- each
fully paid-up at a premium of Rs. 282/- per share.
CCCPS carry cumulative coupon @ 2%. Each of
CCCPS held by investor shall be entitled to a rate of
dividend equivalent to a rate of dividend declared by
the Board on the Equity Shares. The dividend
payable on CCCPS shall be cumulative in nature.
The dividend proposed by the Board of Directors is
59
subject to the approval of the shareholders in the

ensuring Annual General Meeting. CCCPS were due
for the conversion into equity shares during the
financial year 2019-20 and accordingly these
60
CCCPS had been converted in to 1,467,506 equity

shares of Rs. 10 each fully paid up on February 25,
2020 at a premium of Rs 2.35 per share.
(d) Details of shareholders holding more than 5%

shares in the Company
As at As at
March 31, March 31,
2021 2020
Equity Shares: No of Shares % holding No of Shares % holding
Mr. Akshay Bector 4006830 0.553035558 4006830 0.553035558
India Agri Business Fund-II Limited, Mauritius 2550880 0.352080659 2550880 0.352080659
As per the records of the company, including its

register of shareholder/members and other
declarations received from shareholders regarding
beneficial interest, the above shareholding
represents both legal and beneficial ownerships of
shares.
As at As at
(e) Proposed and paid dividend March 31, March 31,
2021 2020
The board proposed and paid dividend on

preference shares after the balance sheet date:
Proposed till the date of conversion on CCCPS Rs.

0 325920
Nil (previous year: Rs. 0.20 per share)
DDT on proposed preference dividend 0 66995
Proposed and paid during the year Rs 0.20 per

share, till the date of conversion, i.e. upto February
325920 362574
25, 2020 {for March 31, 2020: Rs. 0.20 per share
(previous year: Rs. 0.20 per share)}
DDT on proposed preference dividend* 0 74529
61
* With effect from April 01, 2020, the Dividend

Distribution Tax (‘DDT’) payable by the company
under section 115O of IncomeTax Act was abolished
and a withholding tax was introduced on the
payment of dividend. As a result, dividend is now
taxable in the hands of the recipient
[200200] Notes - Reserves and surplus
Statement of changes in reserves [Table] ..(1)

Securities premium
Components of reserves [Axis] Reserves [Member]
account [Member]
01/04/2020 01/04/2019 01/04/2020
to to 31/03/2019 to
31/03/2021 31/03/2020 31/03/2021
Statement of changes in reserves [Abstract]
Statement of changes in reserves [LineItems]
Changes in reserves [Abstract]
Additions to reserves [Abstract]
Profit (loss) for period -17,62,90,633 2,24,44,103.19 0
Other additions to reserves 4,00,499 40,65,785 0
Total additions to reserves -17,58,90,134 2,65,09,888.19 0
Deductions to reserves [Abstract]
Other deductions to reserves 0 21,652
Total deductions to reserves 0 21,652
Appropriations for dividend, dividend tax and
general reserve [Abstract]
Dividend appropriation [Abstract]
Final dividend appropriation [Abstract]
Final preferred dividend appropriation 0 3,62,574
Total final dividend appropriation 0 3,62,574
Total dividend appropriation 0 3,62,574
Dividend tax appropriation [Abstract]
Preferred dividend tax appropriation -3,25,920 0
Total dividend tax appropriation -3,25,920 0
Other appropriations 0 0 0
Transfer to general reserve 0 0 0
Total appropriations for dividend,
-3,25,920 3,62,574 0
dividend tax and general reserve
Appropriation towards bonus shares 0 0 0
Total changes in reserves -17,55,64,214 2,61,25,662.19 0
Reserves at end of period 39,85,66,639 57,47,82,692.81 54,86,57,031 51,54,10,204
62

Employee stock options outstanding
Components of reserves [Axis] Securities premium account [Member]
[Member]
01/04/2019 01/04/2020 01/04/2019
to 31/03/2019 to to
31/03/2020 31/03/2021 31/03/2020
Profit (loss) for period 0 0 0
Other additions to reserves 35,46,642 4,00,499 5,19,143
Total additions to reserves 35,46,642 4,00,499 5,19,143
Deductions to reserves [Abstract]
Other deductions to reserves 0 21,652
Total deductions to reserves 0 21,652
0 0 0
Total changes in reserves 35,46,642 4,00,499 4,97,491
Reserves at end of period 51,54,10,204 51,18,63,562 9,84,555 5,84,056

Employee stock
Components of reserves [Axis] options outstanding Other reserves [Member]
[Member]
01/04/2020 01/04/2019
31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020
Profit (loss) for period 0 0
Other additions to reserves 0 0
Total additions to reserves 0 0
Other appropriations 0 0
Transfer to general reserve 0 0
0 0
Appropriation towards bonus shares 0 0
Total changes in reserves 0 0
Reserves at end of period 86,565 36,79,02,702 36,79,02,702 36,79,02,702
63

Components of reserves [Axis] General reserve [Member] Surplus [Member]
01/04/2020 01/04/2019 01/04/2020
to to 31/03/2019 to
31/03/2021 31/03/2020 31/03/2021
Profit (loss) for period 0 0 -17,62,90,633
Other additions to reserves 0 0 0
Total additions to reserves 0 0 -17,62,90,633
Final preferred dividend appropriation 0
Total final dividend appropriation 0
Total dividend appropriation 0
Preferred dividend tax appropriation -3,25,920
Total dividend tax appropriation -3,25,920
0 0 -3,25,920
Total changes in reserves 0 0 -17,59,64,713
Reserves at end of period 36,79,02,702 36,79,02,702 36,79,02,702 -48,57,30,822

Components of reserves [Axis] Surplus [Member]
01/04/2019
to 31/03/2019
31/03/2020
Profit (loss) for period 2,24,44,103.19
Other additions to reserves 0
Total additions to reserves 2,24,44,103.19
Appropriations for dividend, dividend tax and general reserve [Abstract]
Final preferred dividend appropriation 3,62,574
Total final dividend appropriation 3,62,574
Total dividend appropriation 3,62,574
Preferred dividend tax appropriation 0
Total dividend tax appropriation 0
Other appropriations 0
Transfer to general reserve 0
Total appropriations for dividend, dividend tax and general reserve 3,62,574
Appropriation towards bonus shares 0
Total changes in reserves 2,20,81,529.19
Reserves at end of period -30,91,14,269.19 -33,11,95,798
64

01/04/2020
to
31/03/2021
Disclosure of notes on reserves explanatory [TextBlock] [See below]
65
Disclosure of notes on reserves explanatory [Text Block]
4. Reserves and Surplus
As at As at
March 31, March 31,
2021 2020
Securities premium account
Balance as per last financial statements 515410204 511863562
Premium received on conversion of 2% CCCPS 0 3453630
Premium received issue of ESOP 0 71360
Transferred from ESOP 0 21652
Balance as at the year end (A) 515410204 515410204
General Reserve
Balance as per the last financial statement 367902702 367902702
Balance as at the year end (B) 367902702 367902702
Employee stock options outstanding (ESOP)
Balance as per the last financial statements 584056 86565
Add: Compensation options granted during the year ( also refer

400499 519143
note 23)
Less: transferred to securities premium on exercise of stock

0 -21652
options
Closing Balance (C) 984555 584056
66
Deficit in the statement of profit and loss
Balance as per last financial statements -309114269 -331195798.3
Add:- (Loss)/ Profit for the year -176290633 22444103.19
Appropriation
Dividend on preference shares (also refer note 41) -325920 -362574
Net deficit in the statement of profit and loss (D) -485730822 -309114269.1
Total reserve and surplus (A+B+C+D) 398566639 574782692.9
[200300] Notes - Borrowings
Classification of borrowings [Table] ..(1)

Classification based on time period [Axis] Long-term [Member]
Classification of borrowings [Axis] Borrowings [Member] Term loans [Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Secured borrowings [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [LineItems]
Borrowings 15,48,43,913 7,08,91,424 90,28,040 5,80,00,000
Nature of security [Abstract]
Nature of security
Details on defaults on borrowings [Abstract]
Outstanding amount of continuing default
0 0 0 0
principal
0 0 0 0
interest
67

Classification of borrowings [Axis] Term loans from banks [Member] Rupee term loans from banks [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Borrowings 90,28,040 5,80,00,000 90,28,040 5,80,00,000
Textual information Textual information
Nature of security (42) [See below] (43) [See below]
0 0 0 0
principal
0 0 0 0
interest

Classification of borrowings [Axis] Other loans and advances [Member] Loans taken for fixed assets [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Borrowings 14,58,15,873 1,28,91,424 14,58,15,873 1,28,91,424
Nature of security
0 0 0 0
principal
0 0 0 0
interest

Classification based on time period [Axis] Long-term [Member] Short-term [Member]
Classification of borrowings [Axis] Loans taken for vehicles [Member] Borrowings [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Borrowings 14,58,15,873 1,28,91,424 30,08,71,952 30,17,49,990
0 0 0 0
principal
0 0 0 0
interest
68

Classification based on time period [Axis] Short-term [Member]
Classification of borrowings [Axis] Term loans [Member] Term loans from banks [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Borrowings 29,09,80,288 18,47,10,831 29,09,80,288 18,47,10,831
Nature of security
0 0 0 0
principal
0 0 0 0
interest

Classification of borrowings [Axis] Rupee term loans from banks [Member] Loans repayable on demand [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Borrowings 29,09,80,288 18,47,10,831 98,91,664 0
0 0 0 0
principal
0 0 0 0
interest
69

Loans repayable on demand from banks
Classification of borrowings [Axis] Other loans and advances [Member]
[Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Borrowings 98,91,664 0 0 11,70,39,159
During the year the During the year the
Company has Company has
converted short term converted short term
demand loan demand loan
Nature of security amounting to Rs amounting to Rs
100,000,000 into 100,000,000 into long
long term loan. term loan. (Refer note
(Refer note 5 above) 5 above)
0 0 0 0
principal
0 0 0 0
interest

Other loans and advances, others
Classification of borrowings [Axis]
[Member]
Subclassification of borrowings [Axis] Secured borrowings [Member]
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Borrowings 0 11,70,39,159
** Overdraft
** Overdraft facilities
facilities from bank
from bank are secured
are secured by fixed
by fixed deposit to the
deposit to the extent
Nature of security of 50% of the
extent of 50% of the
facility amount duly
facility amount duly
lien marked in the
lien marked in the
favour of the bank.
favour of the bank.
Outstanding amount of continuing default principal 0 0
Outstanding amount of continuing default interest 0 0

01/04/2020
to
31/03/2021
Disclosure of notes on borrowings explanatory [TextBlock] [See below]
70
Nature of security
"*(a) Corporate Loan from State Bank of India amounting to Rs Nil (previous year Rs 50,000,000), has been repaid during the year, is secured by
first charge and hypothecation of entire movable assets of the Company both present and future excluding vehicles financed by other banks/
financial institutions and equitable mortgage of 8 Kanal of land located at Theing Road, Phillaur, Dist. Jalandhar and building situated thereat. It
is further secured by - first charge of land at village Chawl, Panvel, Dist. Raigarh, Maharashtra. - second charge on entire current assets of the
Company both present and future. - personal guarantee of Mr. Akshay Bector (Chairman & MD) and Mrs. Geeta Bector (Director). Interest on
term loan ranges between 11% to 16% p.a. approx. (b) Term loan from ICICI Bank amounting to Rs 93,75,000 (previous year Rs Nil) and is
secured by first pari passu on the current assets and exclusive hypothecation of entire movable assets of the Company both present and future
excluding vehicles financed by other banks/ financial institutions and exclusive equitable mortgage of 8 Kanal of land located at Theing Road,
Phillaur, Dist. Jalandhar and building situated thereat. It is further secured by - other cross collateralisation on residential flat of 8th Southern
Avenue Maharani Bagh of Mr. Akshay Bector (Chairman and MD) - personal guarantee of Mr. Akshay Bector (Chairman and MD) Interest on
Term loan is 12% p.a. (approx). The Company has also availed the moratorium facility from bank and paid the last instalment of Rs 9,375,000 on
September 30, 2020, which was due on March 31, 2020 as per the original repayment terms. (c) During the year the Company has converted short
term demand loan amounting to Rs 100,000,000 taken from Yes bank into long term loan. This loan is repayable on equal quarterly instalments,
over period of 12 quarters as follows: - 4 quarterly instalments amounting to Rs. 7,000,000 each from September 30, 2020 (including moratorium
period availed of 6 months) - 8 quarterly instalments amounting to Rs. 9,000,000 each from September 30, 2021 Interest on term loan ranges
between 10% to 12%. And the same is secured by first pari passu on the current assets and exclusive hypothecation of entire movable assets of the
Company both present and future excluding vehicles financed by other banks/ financial institutions and exclusive equitable mortgage of 8 Kanal
of land located at Theing Road, Phillaur, Dist. Jalandhar and building situated thereat. It is further secured by - other cross collateralisation on
residential flat of 8th Southern Avenue Maharani Bagh of Mr. Akshay Bector (Chairman and MD) - personal guarantee of Mr. Akshay Bector
(Chairman and MD) (Also refer Note 7)"
Nature of security
"*(a) Corporate Loan from State Bank of India amounting to Rs Nil (previous year Rs 50,000,000), has been repaid during the year, is secured by
first charge and hypothecation of entire movable assets of the Company both present and future excluding vehicles financed by other banks/
financial institutions and equitable mortgage of 8 Kanal of land located at Theing Road, Phillaur, Dist. Jalandhar and building situated thereat. It
is further secured by - first charge of land at village Chawl, Panvel, Dist. Raigarh, Maharashtra. - second charge on entire current assets of the
Company both present and future. - personal guarantee of Mr. Akshay Bector (Chairman & MD) and Mrs. Geeta Bector (Director). Interest on
term loan ranges between 11% to 16% p.a. approx. (b) Term loan from ICICI Bank amounting to Rs 93,75,000 (previous year Rs Nil) and is
secured by first pari passu on the current assets and exclusive hypothecation of entire movable assets of the Company both present and future
excluding vehicles financed by other banks/ financial institutions and exclusive equitable mortgage of 8 Kanal of land located at Theing Road,
Phillaur, Dist. Jalandhar and building situated thereat. It is further secured by - other cross collateralisation on residential flat of 8th Southern
Avenue Maharani Bagh of Mr. Akshay Bector (Chairman and MD) - personal guarantee of Mr. Akshay Bector (Chairman and MD) Interest on
Term loan is 12% p.a. (approx). The Company has also availed the moratorium facility from bank and paid the last instalment of Rs 9,375,000 on
September 30, 2020, which was due on March 31, 2020 as per the original repayment terms. (c) During the year the Company has converted short
term demand loan amounting to Rs 100,000,000 taken from Yes bank into long term loan. This loan is repayable on equal quarterly instalments,
over period of 12 quarters as follows: - 4 quarterly instalments amounting to Rs. 7,000,000 each from September 30, 2020 (including moratorium
period availed of 6 months) - 8 quarterly instalments amounting to Rs. 9,000,000 each from September 30, 2021 Interest on term loan ranges
between 10% to 12%. And the same is secured by first pari passu on the current assets and exclusive hypothecation of entire movable assets of the
Company both present and future excluding vehicles financed by other banks/ financial institutions and exclusive equitable mortgage of 8 Kanal
of land located at Theing Road, Phillaur, Dist. Jalandhar and building situated thereat. It is further secured by - other cross collateralisation on
residential flat of 8th Southern Avenue Maharani Bagh of Mr. Akshay Bector (Chairman and MD) - personal guarantee of Mr. Akshay Bector
(Chairman and MD) (Also refer Note 7)"
Nature of security
** Loans against vehicles from banks and financial institutions are secured by hypothecation of respective vehicles. The loans are repayable on
equally monthly instalments (EMI) basis and carry interest rate as per their respective loan agreements. Interest on vehicle loan ranges between
9% to 11% p.a. approx.
71
Nature of security
** Loans against vehicles from banks and financial institutions are secured by hypothecation of respective vehicles. The loans are repayable on
equally monthly instalments (EMI) basis and carry interest rate as per their respective loan agreements. Interest on vehicle loan ranges between
9% to 11% p.a. approx.
Nature of security
"* Cash Credit from bank is secured by first pari passu on the current assets and exclusive hypothecation of entire movable assets of the Company
both present and future excluding vehicles financed by other banks/ financial institutions and exclusive equitable mortgage of 8 Kanal of land
located at Theing Road, Phillaur, Dist. Jalandhar and building situated thereat. It is further secured by - other cross collateralisation on residential
flat of 8th Southern Avenue Maharani Bagh of Mr. Akshay Bector (Chairman and MD) - personal guarantee of Mr. Akshay Bector (Chairman
and MD) Interest on above term loans ranges between 10% to 12% p.a. approx."
Nature of security
"* Cash Credit from bank is secured by first pari passu on the current assets and exclusive hypothecation of entire movable assets of the Company
both present and future excluding vehicles financed by other banks/ financial institutions and exclusive equitable mortgage of 8 Kanal of land
located at Theing Road, Phillaur, Dist. Jalandhar and building situated thereat. It is further secured by - other cross collateralisation on residential
flat of 8th Southern Avenue Maharani Bagh of Mr. Akshay Bector (Chairman and MD) - personal guarantee of Mr. Akshay Bector (Chairman
and MD) Interest on above term loans ranges between 10% to 12% p.a. approx."
72
Disclosure of notes on borrowings explanatory [Text Block]
5. Long-term Borrowings
As at As at
March 31, March 31,
2021 2020
Non-Current Current Non-Current Current
Term Loans (Secured)
Loan from banks * 145815873 62981008 58000000 30375000
Vehicle loans from banks** 8044977 3980303 10923302 3843711
Vehicles loans from financial institutions** 983063 1052162 1968122 1453496
154843913 68013473 70891424 35672207
Amount disclosed under the head "other liabilities" (refer note 8) 0 -68013473 0 -35672207
Total 154843913 0 70891424 0
(a) Corporate Term loan from ICICI Bank amounting to Rs. NIL
(previous year Rs. 93,75,000 ) is secured by first pari passu on
the current assets and exclusive hypothecation of entire movable
assets of the Company both present and future excluding
vehicles financed by other banks/ financial institutions and
exclusive equitable mortgage of 8 Kanal of land located at
Theing Road, Phillaur, Dist. Jalandhar and building situated
thereat. It is further secured by
- other cross collateralization on residential flat of 8th Southern
Avenue Maharani Bagh of Mr. Akshay Bector (Chairman and
MD)
- personal guarantee of Mr. Akshay Bector (Chairman and MD)
(b) Term loan from ICICI Bank amounting to Rs. 54,000,000
(previous year Rs. 79,000,000 ) is secured by first pari passu on
the current assets and exclusive hypothecation of entire movable
assets of the Company both present and future excluding
vehicles financed by other banks/ financial institutions and
exclusive equitable mortgage of 8 Kanal of land located at
73
Theing Road, Phillaur, Dist. Jalandhar and building situated

thereat. It is further secured by
- other cross collateralization on residential flat of 8th Southern
Avenue Maharani Bagh of Mr. Akshay Bector (Chairman and
MD)
This loan is repayable on equal quarterly instalments, over
period of 12 quarters as follows:
- 4 quarterly instalments amounting to Rs. 7,000,000 each from
September 30, 2020 (including moratorium period availed of 6
months)
- 8 quarterly instalments amounting to Rs. 9,000,000 each from
September 30, 2021.
(c) During the year, the Company has availed moratorium facility
from the bank on the above term loan and therefore interest
pertaining to the moratorium period to the tune of Rs. 3,896,006
has been converted into a new term loan facility by the bank. Out
of this, Rs. 1,232,914 has been repaid during the year and the
closing balance of the loan as on March 31, 2021 is Rs.
2,663,092. This loan is repayable in equal monthly instalments of
Rs. 443,849. Interest on both the loan facilities ranges between
8.95% to 10%.
(d) The Company has taken loan under the Emergency Credit
Line Guarantee Scheme (ECLGS) from ICICI Bank to the extent
of Rs. 52,387,348 (previous year Rs. NIL) which is secured by
second ranking charge over all the existing securities (including
mortgage) created in favour of ICICI bank for existing facility.
The moratorium period for principal amount is one year hence
the repayment will start from January 2022. The loan is
repayable in 36 equal monthly instalments of Rs. 1,455,204 each
and interest is charged at 8.25%.
(e) The Company has also taken new term loan from CSB Bank
amounting to Rs. 99,746,439 (previous year- Rs. NIL) which is
secured by first pari passu charge by way of hypothecation along
with ICICI Bank over entire movable fixed assets of company
both present and future (other than vehicles and other fixed
assets financed by other banks/financial institutions). It is further
secured by
- second pari passu charge with ICICI Bank over the entire
current assets of the company, both present and future including
stock and book debts
- unconditional & irrevocable personal guarantees of Mr. Akshay
Bector (Chairman and MD).
The moratorium period for the facility is nine months and hence
the repayment will start from June 2022. The loan is repayable in
48 equal monthly instalments of Rs. 2,084,000 each. Interest on
such loan ranges between 12.75% to 14.75%
** Loans against vehicles from banks and financial institutions
are secured by hypothecation of respective vehicles. The loans
are repayable on equally monthly instalments (EMI) basis and
74
carry interest rate as per their respective loan agreements.

Interest on vehicle loan ranges between 9% to 11% p.a. approx.
7. Short-term borrowings
As at As at
March 31, March 31,
2021 2020
Secured
Cash Credit from Bank* 290980288 184710831
Overdraft from Bank** 0 117039159
Short term loan from others*** 9891664 0
Total 300871952 301749990
* Cash credit from ICICI Bank of Rs. 195,566,755 (previous year Rs. 184,710,831) is secured by first
pari passu on the current assets and exclusive hypothecation of entire movable assets of the
Company both present and future excluding vehicles financed by other banks/ financial institutions
and exclusive equitable mortgage of 8 Kanal of land located at Theing Road, Phillaur, Dist. Jalandhar
and building situated thereat. It is further secured by
- other cross collateralisation on residential flat of 8th Southern Avenue Maharani Bagh of Mr. Akshay
Bector (Chairman and MD)
Further, cash credit from CSB Bank of Rs. 95,413,121 (previous year Rs. NIL) is secured by first pari
passu charge by way of hypothecation along with ICICI Bank over entire movable fixed assets of
company both present and future (other than vehicles and other fixed assets financed by other
banks/financial institutions). It is further secured by
- second pari passu charge with ICICI Bank over the entire current assets of the company, both
present and future including stock and book debts
- unconditional & irrevocable personal guarantees of Mr. Akshay Bector (Chairman and MD).
** Overdraft facility from Yes Bank of Rs. NIL (previous year Rs. 117,039,159) was secured by fixed
deposit to the extent of 50% of the facility amount, duly lien marked in favour of the bank. During the
year the Company has repaid this overdraft and converted it into cash credit from CSB Bank.
* Interest on such loan ranges between 8.95% to 12.75%
*** Short term loan from others include vendor financing facility from Ugro Capital Limited (NBFC) and
carries interst rate of 13.5%.
75
[201000] Notes - Tangible assets
Disclosure of tangible assets [Table] ..(1)

Classes of tangible assets [Axis] Company total tangible assets [Member]
Sub classes of tangible assets [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross
Carrying amount [Member] Gross carrying amount [Member]
carrying amount [Axis]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Disclosure of tangible assets [Abstract]
Disclosure of tangible assets
[LineItems]
Reconciliation of changes in
tangible assets [Abstract]
Changes in tangible assets
[Abstract]
Additions other than through
business combinations tangible 99,24,798 1,89,03,847 99,24,798 1,89,03,847
assets
Acquisitions through
business combinations 0 0 0 0
tangible assets
Depreciation tangible assets -3,80,67,046 -4,69,58,067
Impairment loss
recognised in profit or 0 0
loss tangible assets
Reversal of impairment loss
recognised in profit or loss 0 0
tangible assets
Revaluation increase
0 0 0 0
(decrease) tangible assets
Disposals tangible assets
[Abstract]
0 0 0 0
through demergers
Disposals tangible assets,
19,87,345 5,34,37,722 34,68,668 6,28,03,531
others
Total disposals tangible
19,87,345 5,34,37,722 34,68,668 6,28,03,531
assets
Other adjustments tangible
assets [Abstract]
Increase (decrease) through
net exchange differences 0 0 0 0
tangible assets
0 0 0 0
assets, others
Total other adjustments
0 0 0 0
tangible assets
Total changes in tangible
-3,01,29,593 -8,14,91,942 64,56,130 -4,38,99,684
assets
Tangible assets at end of period 28,74,05,995 31,75,35,588 39,90,27,530 79,71,03,455 79,06,47,325 83,45,47,009
76

Classes of tangible assets [Axis] Company total tangible assets [Member] Land [Member]
Sub classes of tangible assets [Axis] Owned and leased assets [Member] Assets held under lease [Member]
Carrying amount accumulated depreciation and gross Accumulated depreciation and impairment
Carrying amount [Member]
carrying amount [Axis] [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
business combinations tangible 0 0
assets
business combinations 0 0
tangible assets
Depreciation tangible assets 3,80,67,046 4,69,58,067 -3,12,239 -3,12,239
Impairment loss
recognised in profit or 0 0 0 0
recognised in profit or loss 0 0 0 0
tangible assets
0 0
[Abstract]
0 0
through demergers
14,81,323 93,65,809 0 0
others
14,81,323 93,65,809 0 0
assets
assets [Abstract]
net exchange differences 0 0
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
3,65,85,723 3,75,92,258 -3,12,239 -3,12,239
assets
77

Classes of tangible assets [Axis] Land [Member]
Sub classes of tangible assets [Axis] Assets held under lease [Member]
Gross carrying amount [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
business combinations tangible 0 0
assets
tangible assets
Depreciation tangible assets 3,12,239 3,12,239
Impairment loss
tangible assets
0 0
[Abstract]
0 0
through demergers
0 0 0 0
others
0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
0 0 3,12,239 3,12,239
assets
Tangible assets at end of period 2,78,02,105 2,78,02,105 2,78,02,105 30,54,810 27,42,571 24,30,332
78

Classes of tangible assets [Axis] Land [Member]
Sub classes of tangible assets [Axis] Owned assets [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
business combinations tangible 0 7,79,420 0 7,79,420
assets
tangible assets
Depreciation tangible assets 0 0
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0
through demergers
0 5,14,04,794 0 5,14,04,794
others
0 5,14,04,794 0 5,14,04,794
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
0 -5,06,25,374 0 -5,06,25,374
assets
79

Classes of tangible assets [Axis] Land [Member] Buildings [Member]
Sub classes of tangible assets [Axis] Owned assets [Member] Owned assets [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
business combinations tangible 21,10,732 18,87,663
assets
tangible assets
Depreciation tangible assets 0 0 -42,32,617 -41,30,722
Impairment loss
tangible assets
0 0
[Abstract]
0 0
through demergers
0 0 0 0
others
0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
0 0 -21,21,885 -22,43,059
assets
Tangible assets at end of period 0 0 0 7,60,19,527 7,81,41,412 8,03,84,471
80

Classes of tangible assets [Axis] Buildings [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0
[Abstract]
0 0
through demergers
0 0 0 0
others
0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
21,10,732 18,87,663 42,32,617 41,30,722
assets
81

Classes of tangible assets [Axis] Other building [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
business combinations tangible 21,10,732 18,87,663 21,10,732 18,87,663
assets
tangible assets
Depreciation tangible assets -42,32,617 -41,30,722
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0
through demergers
0 0 0 0
others
0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
-21,21,885 -22,43,059 21,10,732 18,87,663
assets
82

Classes of tangible assets [Axis] Other building [Member] Plant and equipment [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
assets
tangible assets
Depreciation tangible assets 42,32,617 41,30,722 -2,23,54,871 -3,09,00,041
Impairment loss
tangible assets
0 0
[Abstract]
0 0
through demergers
0 0 0 12,48,359
others
0 0 0 12,48,359
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
42,32,617 41,30,722 -1,60,42,023 -2,67,13,137
assets
83

Classes of tangible assets [Axis] Plant and equipment [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
assets
tangible assets
Depreciation tangible assets 2,23,54,871 3,09,00,041
Impairment loss
tangible assets
0 0
[Abstract]
0 0
through demergers
0 51,30,716 0 38,82,357
others
0 51,30,716 0 38,82,357
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
63,12,848 3,04,547 2,23,54,871 2,70,17,684
assets
84

Classes of tangible assets [Axis] Other plant and equipment [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
assets
tangible assets
Depreciation tangible assets -2,23,54,871 -3,09,00,041
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0
through demergers
0 12,48,359 0 51,30,716
others
0 12,48,359 0 51,30,716
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
-1,60,42,023 -2,67,13,137 63,12,848 3,04,547
assets
85

Classes of tangible assets [Axis] Other plant and equipment [Member] Furniture and fixtures [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
business combinations tangible 5,00,000 0
assets
tangible assets
Depreciation tangible assets 2,23,54,871 3,09,00,041 -19,41,892 -20,07,048
Impairment loss
tangible assets
0 0
[Abstract]
0 0
through demergers
0 38,82,357 0 0
others
0 38,82,357 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
2,23,54,871 2,70,17,684 -14,41,892 -20,07,048
assets
Tangible assets at end of period 37,55,28,829 35,31,73,958 32,61,56,274 79,32,699 93,74,591 1,13,81,639
86

Classes of tangible assets [Axis] Furniture and fixtures [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
business combinations tangible 5,00,000 0
assets
tangible assets
Impairment loss
tangible assets
0 0
[Abstract]
0 0
through demergers
0 0 0 0
others
0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
5,00,000 0 19,41,892 20,07,048
assets
87

Classes of tangible assets [Axis] Vehicles [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
business combinations tangible 0 92,72,253 0 92,72,253
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0
through demergers
19,87,345 7,84,569 34,68,668 62,68,021
others
19,87,345 7,84,569 34,68,668 62,68,021
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
-74,86,161 27,29,605 -34,68,668 30,04,232
assets
88

Classes of tangible assets [Axis] Vehicles [Member] Motor vehicles [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
business combinations tangible 0 92,72,253
assets
tangible assets
Depreciation tangible assets 54,98,816 57,58,079 -54,98,816 -57,58,079
Impairment loss
tangible assets
0 0
[Abstract]
0 0
through demergers
14,81,323 54,83,452 19,87,345 7,84,569
others
14,81,323 54,83,452 19,87,345 7,84,569
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
40,17,493 2,74,627 -74,86,161 27,29,605
assets
89

Classes of tangible assets [Axis] Motor vehicles [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
business combinations tangible 0 92,72,253
assets
tangible assets
Impairment loss
tangible assets
0 0
[Abstract]
0 0
through demergers
34,68,668 62,68,021 14,81,323 54,83,452
others
34,68,668 62,68,021 14,81,323 54,83,452
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
-34,68,668 30,04,232 40,17,493 2,74,627
assets
90

Classes of tangible assets [Axis] Office equipment [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0
through demergers
0 0 0 0
others
0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
-1,90,898 -14,149 8,10,390 8,97,056
assets
Tangible assets at end of period 33,08,661 34,99,559 35,13,708 94,75,742 86,65,352 77,68,296
91

Classes of tangible assets [Axis] Office equipment [Member] Computer equipments [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
assets
tangible assets
Depreciation tangible assets 10,01,288 9,11,205 -4,97,287 -6,99,812
Impairment loss
tangible assets
0 0
[Abstract]
0 0
through demergers
0 0 0 0
others
0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
10,01,288 9,11,205 -3,06,459 -67,620
assets
Tangible assets at end of period 61,67,081 51,65,793 42,54,588 11,38,293 14,44,752 15,12,372
92

Classes of tangible assets [Axis] Computer equipments [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0
[Abstract]
0 0
through demergers
0 0 0 0
others
0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
1,90,828 6,32,192 4,97,287 6,99,812
assets
Tangible assets at end of period 1,15,73,248 1,13,82,420 1,07,50,228 1,04,34,955 99,37,668 92,37,856
93

Classes of tangible assets [Axis] Leasehold improvements [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
business combinations tangible 0 0 0 0
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0
through demergers
0 0 0 0
others
0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
-22,28,036 -22,38,921 0 0
assets
94

Classes of tangible assets [Axis] Leasehold improvements [Member]
Carrying amount accumulated depreciation and gross carrying amount [Axis] Accumulated depreciation and impairment [Member]
01/04/2020 01/04/2019
to to 31/03/2019
31/03/2021 31/03/2020
Disclosure of tangible assets [LineItems]
Reconciliation of changes in tangible assets [Abstract]
Changes in tangible assets [Abstract]
Impairment loss recognised in profit or loss tangible assets 0 0
Reversal of impairment loss recognised in profit or loss
0 0
tangible assets
Disposals tangible assets [Abstract]
Disposals tangible assets, others 0 0
Total disposals tangible assets 0 0
Other adjustments tangible assets [Abstract]
Other adjustments tangible assets, others 0 0
Total other adjustments tangible assets 0 0
Total changes in tangible assets 22,28,036 22,38,921
Tangible assets at end of period 1,12,20,563 89,92,527 67,53,606
Disclosure of additional information tangible assets [Table] ..(1)

Factory
Company total tangible assets Other building
Classes of tangible assets [Axis] Buildings [Member] building
[Member] [Member]
[Member]
Owned and leased assets Owned assets Owned assets
[Member] [Member] [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019 01/04/2019 01/04/2020
to to to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020 31/03/2020 31/03/2021
Disclosure of additional information
tangible assets [LineItems]
STRAIGHT
STRAIGHT
Depreciation method tangible assets LINE METHOD
LINE
METHOD
Useful lives or depreciation rates
30 30
tangible assets

Other plant and equipment Furniture and fixtures
Classes of tangible assets [Axis] Plant and equipment [Member]
[Member] [Member]
Sub classes of tangible assets [Axis] Owned assets [Member] Owned assets [Member] Owned assets [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020 31/03/2021 31/03/2020
STRAIGHT
STRAIGHT STRAIGHT STRAIGHT
Depreciation method tangible assets LINE METHOD LINE METHOD LINE METHOD
LINE
METHOD
15 15 10 10
tangible assets
95

Classes of tangible assets [Axis] Vehicles [Member] Motor vehicles [Member] Office equipment [Member]
Sub classes of tangible assets [Axis] Owned assets [Member] Owned assets [Member] Owned assets [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020 31/03/2021 31/03/2020
STRAIGHT
STRAIGHT STRAIGHT STRAIGHT
Depreciation method tangible assets LINE METHOD LINE METHOD LINE METHOD
LINE
METHOD
8 8 5 5
tangible assets

Leasehold
Classes of tangible assets [Axis] Computer equipments [Member] improvements
[Member]
Assets held under
lease [Member]
01/04/2020 01/04/2019 01/04/2020
to to to
31/03/2021 31/03/2020 31/03/2021
Disclosure of additional information tangible assets [Abstract]
Disclosure of additional information tangible assets [LineItems]
STRAIGHT LINE STRAIGHT LINE STRAIGHT LINE
Depreciation method tangible assets METHOD METHOD METHOD
Useful lives or depreciation rates tangible assets 3 3 10

01/04/2020
to
31/03/2021
Disclosure of notes on tangible assets explanatory [TextBlock] [See below]
96
Disclosure of notes on tangible assets explanatory [Text Block]
Note 9: Property,
plant and
equipment
Furniture
Freehold Leasehold Leasehold Plant and Office
Building and Vehicles Computers Total
land land * improvements Machinery Equipment
fixtures
Gross Block
As at April 1, 2019 85168244 27802105 21497868 121161924 476240407 38340396 7768296 45817541 10750228 834547009
Add: Additions
779420 0 0 1887663 5435263 0 897056 9272253 632192 18903847
during the year
Less: Disposals
51404794 0 0 0 5130716 0 0 6268021 0 62803531
during the year
As at March 31,
34542870 27802105 21497868 123049587 476544954 38340396 8665352 48821773 11382420 790647325
2020
Add: Additions
0 0 0 2110732 6312848 500000 810390 0 190828 9924798
during the year
Less: Disposals
0 0 0 0 0 0 0 3468668 0 3468668
during the year
As at March 31,
34542870 27802105 21497868 125160319 482857802 38840396 9475742 45353105 11573248 797103455
2021
Accumulated
depreciation
As at April 1, 2019 0 2430332 6753606 40777453 326156274 26958757 4254588 18950613 9237856 435519479
Add: charges for

0 312239 2238921 4130722 30900041 2007048 911205 5758079 699812 46958067
the year
Less: Disposals 0 0 0 0 3882357 0 0 5483452 0 9365809
As at March 31,
97
2020 0 2742571 8992527 44908175 353173958 28965805 5165793 19225240 9937668 473111737
Add: charges for

0 312239 2228036 4232617 22354871 1941892 1001288 5498816 497287 38067046
the year
Less: Disposals 0 0 0 0 0 0 0 1481323 0 1481323
As at March 31,
0 3054810 11220563 49140792 375528829 30907697 6167081 23242733 10434955 509697460
2021
Net Block
As at March 31,
34542870 24747295 10277305 76019527 107328973 7932699 3308661 22110372 1138293 287405995
2021
As at March 31,
34542870 25059534 12505341 78141412 123370996 9374591 3499559 29596533 1444752 317535588
2020
* Pledged as
secondary security
for loan taken by
subsidiary
company, Cremica
Food Park Private
Limited from
National Bank for
agriculture and
rural development
(NABARD) ( also
refer note no. 44).
** includes gross
block amounting to
Rs. 17,147,067
(previous year Rs.
17,147,067 ) having
net block
amounting to Rs.
3,000,524 (previous
year Rs. 5,783,264
) appearing in the
name of Mrs.
Bector Foods
Specialties Limited.
These were
transferred to the
Company on
account of
demerger from Mrs.
Bector Foods
Specialties Limited.
Further, these
assets are of the
Company and the
Company has not
yet transferred in
their name only on
98
account of
administrative
convenience.
March 31, March 31,

2021 2020
Capital work in
progress (Refer 44018182 48900325
Note 44)
99
[201100] Notes - Intangible assets
Disclosure of intangible assets [Table] ..(1)

Classes of intangible assets [Axis] Company total intangible assets [Member]
Sub classes of intangible assets [Axis] Internally generated and other than internally generated intangible assets [Member]
Carrying amount accumulated amortization and
impairment and gross carrying amount [Axis]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Disclosure of intangible assets [Abstract]
Disclosure of intangible assets
[LineItems]
intangible assets [Abstract]
Changes in intangible assets
[Abstract]
Additions to intangible assets
[Abstract]
Additions through internal
0 0 0 0
development
business combinations 0 9,67,045 0 9,67,045
intangible assets
intangible assets
Total additions to
0 9,67,045 0 9,67,045
intangible assets
Amortization intangible assets -9,51,606 -19,72,656
Impairment loss
loss intangible assets
intangible assets
0 0 0 0
(decrease) intangible assets
Disposals intangible assets
[Abstract]
Disposals intangible
0 0 0 0
assets through demergers
0 0 0 0
assets, others
Total disposals intangible
0 0 0 0
assets
Retirements of intangible
0 0 0 0
assets
Other adjustments intangible
assets [Abstract]
intangible assets
Other adjustments
0 0 0 0
intangible assets, others
0 0 0 0
intangible assets
Total changes in intangible
-9,51,606 -10,05,611 0 9,67,045
assets
Intangible assets at end of period 28,43,818 37,95,424 48,01,035 1,16,59,182 1,16,59,182 1,06,92,137
100

Classes of intangible assets [Axis] Company total intangible assets [Member] Computer software [Member]
Internally generated and other than internally Intangible assets other than internally generated
Sub classes of intangible assets [Axis]
generated intangible assets [Member] [Member]
Carrying amount accumulated amortization and Accumulated amortization and impairment
impairment and gross carrying amount [Axis] [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
[Abstract]
0 0
development
business combinations 0 9,67,045
intangible assets
intangible assets
Total additions to
0 9,67,045
intangible assets
Amortization intangible assets 9,51,606 19,72,656 -9,51,606 -19,72,656
Impairment loss
intangible assets
0 0
[Abstract]
0 0
0 0 0 0
assets, others
0 0 0 0
assets
0 0
assets
assets [Abstract]
intangible assets
Other adjustments
0 0 0 0
0 0 0 0
intangible assets
9,51,606 19,72,656 -9,51,606 -10,05,611
assets
Intangible assets at end of period 88,15,364 78,63,758 58,91,102 28,43,818 37,95,424 48,01,035
101

Classes of intangible assets [Axis] Computer software [Member]
Sub classes of intangible assets [Axis] Intangible assets other than internally generated [Member]
Carrying amount accumulated amortization and Accumulated amortization and impairment
impairment and gross carrying amount [Axis] [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to 31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[LineItems]
[Abstract]
[Abstract]
0 0
development
business combinations 0 9,67,045
intangible assets
intangible assets
Total additions to
0 9,67,045
intangible assets
Amortization intangible assets 9,51,606 19,72,656
Impairment loss
intangible assets
0 0
[Abstract]
0 0
0 0 0 0
assets, others
0 0 0 0
assets
0 0
assets
assets [Abstract]
intangible assets
Other adjustments
0 0 0 0
0 0 0 0
intangible assets
0 9,67,045 9,51,606 19,72,656
assets
Intangible assets at end of period 1,16,59,182 1,16,59,182 1,06,92,137 88,15,364 78,63,758 58,91,102
102
Disclosure of additional information intangible assets [Table] ..(1)

Company total intangible assets
Classes of intangible assets [Axis] Computer software [Member]
[Member]
Internally generated and other than
Intangible assets other than internally
Sub classes of intangible assets [Axis] internally generated intangible assets
generated [Member]
[Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Disclosure of additional information intangible assets
[Abstract]
Disclosure of additional information intangible
assets [LineItems]
Useful lives or amortization rates intangible STRAIGHT LINE STRAIGHT LINE
assets METHOD METHOD
Description of amortization method used 6 YEARS 6 YEARS

01/04/2020
to
31/03/2021
Disclosure of notes on intangible assets explanatory [TextBlock] [See below]
103
Disclosure of notes on intangible assets explanatory [Text Block]
Note 10: Intangible Assets:
Software Total
Gross Block
As at April 1, 2019 10692137 10692137
Add: Additions during the year 967045 967045
As at March 31, 2020 11659182 11659182
Add: Additions during the year 0 0
As at March 31, 2021 11659182 11659182
Amortization
As at April 1, 2019 5891102 5891102
Add: Charges for the year 1972656 1972656
As at March 31, 2020 7863758 7863758
Add: Charges for the year 951605.9968 951605.9968
As at March 31, 2021 8815363.997 8815363.997
Net Block
As at March 31, 2021 2843818.003 2843818.003
104
As at March 31, 2020 3795424 3795424
* This space has been intentionally left blank.*
[200400] Notes - Non-current investments
Details of non-current investments [Table] ..(1)

Classification of non-current investments [Axis] 1 2
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [LineItems]
Investment in Investment in Investment in Investment in
Type of non-current investments subsidiaries equity subsidiaries equity subsidiaries equity subsidiaries equity
instruments instruments instruments instruments
Class of non-current investments Other investments Other investments Other investments Other investments
Nature of non-current investments NON-CURRENT NON-CURRENT NON-CURRENT NON-CURRENT
Non-current investments 1,00,000 1,00,000 40,238 40,238
Cremica
Name of body corporate in whom investment has Cremica Condiments Mrs. Bectors Food Mrs. Bectors Food
Condiments Private
been made Private Limited Private Limited Private Limited
Limited
Number of shares of non-current investment
[shares] 0 [shares] 10,000 [shares] 0 [shares] 10,000
made in body corporate
105
Details of non-current investments [Table] ..(2)

Classification of non-current investments [Axis] 3 4
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [LineItems]
Investment in Investment in Investment in Investment in
Type of non-current investments subsidiaries equity subsidiaries equity subsidiaries subsidiaries
instruments instruments preference shares preference shares
Class of non-current investments Other investments Other investments Other investments Other investments
Nature of non-current investments NON-CURRENT NON-CURRENT NON-CURRENT NON-CURRENT
Non-current investments 22,50,00,000 22,50,00,000 2,00,00,000 2,00,00,000
Name of body corporate in whom investment has Cremica Food Park Cremica Food Park Cremica Food Park Cremica Food Park
been made Private Limited Private Limited Private Limited Private Limited
Number of shares of non-current investment
[shares] 0 [shares] 2,25,00,000 [shares] 0 [shares] 20,00,000
made in body corporate

01/04/2020
to 31/03/2020
31/03/2021
Disclosure of notes on non-current investments explanatory [TextBlock] [See below]
Aggregate amount of quoted non-current investments 0 0
Market value of quoted non-current investments 0 0
Aggregate amount of unquoted non-current investments 24,51,40,238 24,51,40,238
Aggregate provision for diminution in value of non-current investments 0 0
106
Disclosure of notes on non-current investments explanatory [Text Block]
13. Non-Current Investments
As at
As at
March
March 31,
31,
2021
2020
Non-trade Investment (At Cost) Non-current Current Non-current Current
(a) Investment in subsidiary companies - (unquoted):
I. Investment in equity instrument-fully paid up:-
10,000 equity shares of Rs. 10 each ( March 31,2020 : 10,000) Cremica

100000 0 100000 0
Condiments Private Limited
10,000 equity shares of Rs. 10 each ( March 31,2020 : 10,000) Mrs.

40238 0 40238 0
Bectors Food Private Limited
22,500,000 (March 31, 2020 : 22,500,000) equity Shares of Rs.10/- each

225000000 0 225000000 0
of Cremica Food Park Private Limited *
II. Investment in preference shares-fully paid up:-
2,000,000 (March 31, 2020 : 2,000,000) 6% preference shares of Rs.10/-

20000000 0 20000000 0
each of Cremica Food Park Private Limited
Total 245140238 0 245140238
* The Company holds legal and beneficial ownership for 9,621,000

shares and for remaining 12,879,000 shares, the Company holds only
beneficial ownership of the shares. These shares will be transferred in
the name of the Company after obtaining approval from the NABARD
and MoFPI. Management is confident that such approval shall be
granted once applied of completion of the Food Park Project.
107
[200500] Notes - Current investments

31/03/2021 31/03/2020
Disclosure of notes on current investments explanatory [TextBlock]
Aggregate amount of quoted current investments 0 0
Market value of quoted current investments 0 0
Aggregate amount of unquoted current investments 0 0
Aggregate provision for diminution in value of current investments 0 0
[200600] Notes - Subclassification and notes on liabilities and assets
Disclosure of breakup of provisions [Table] ..(1)

Classification based on time period [Axis] Long-term [Member] Short-term [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets
[Abstract]
Provisions notes [Abstract]
Disclosure of breakup of provisions [Abstract]
Disclosure of breakup of provisions [LineItems]
Provisions [Abstract]
Provisions for employee benefits
[Abstract]
Provision gratuity 2,79,26,116 2,69,46,396 4,15,18,350 51,82,515
Provision leave encashment 85,31,164
Total provisions for employee benefits 2,79,26,116 2,69,46,396 4,15,18,350 1,37,13,679
CSR expenditure provision 0 0 0 0
Other provisions 0 1,35,00,000
Total provisions 2,79,26,116 2,69,46,396 4,15,18,350 2,72,13,679
Loans and advances [Table] ..(1)

Classification of loans and advances [Axis] Capital advances [Member] Security deposits [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[Abstract]
Loans and advances notes [Abstract]
Loans and advances [Abstract]
Disclosure of loans and advances [LineItems]
Loans and advances, gross 3,16,90,772 3,10,24,042 6,37,43,272 6,38,08,272
Allowance for bad and doubtful loans and
0 86,341 0 0
advances
Loans and advances 3,16,90,772 3,09,37,701 6,37,43,272 6,38,08,272
Details of loans and advances due by
directors, other officers or others
[Abstract]
Loans and advances due by directors 0 0 0 0
Loans and advances due by other officers 0 0 0 0
Total loans and advances due by
0 0 0 0
Details of loans and advances due by firms
or companies in which any director is
partner or director [Abstract]
Total loans and advances due
by firms or companies in which
0 0 0 0
any director is partner or
director
108

Loans advances given other related
Classification of loans and advances [Axis] Prepaid expenses [Member]
parties [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[Abstract]
Loans and advances, gross 31,75,08,238 31,80,59,230 0 0
0 0 0 0
advances
Loans and advances 31,75,08,238 31,80,59,230 0 0
[Abstract]
0 0 0 0
0 0 0 0
director

Classification of loans and advances [Axis] Advance tax [Member] Advance income tax paid [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[Abstract]
Loans and advances, gross 0 0 0 0
0 0 0 0
advances
Loans and advances 0 0 0 0
[Abstract]
0 0 0 0
0 0 0 0
director
109

Deposits with statutory authorities
Classification of loans and advances [Axis] MAT credit entitlement [Member]
[Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[Abstract]
Loans and advances, gross 0 0 32,66,205 32,66,205
0 0 0 0
advances
Loans and advances 0 0 32,66,205 32,66,205
[Abstract]
0 0 0 0
0 0 0 0
director

Classification of loans and advances [Axis] Other deposit assets [Member]
[Member]
01/04/2020 01/04/2019
31/03/2021 31/03/2020 to to
31/03/2021 31/03/2020
[Abstract]
Loans and advances, gross 31,04,840 50,32,800 7,92,256 26,57,382
0 0 0 19,65,927
advances
Loans and advances 31,04,840 50,32,800 7,92,256 6,91,455
Advance
Advance recoverable
Nature of other loans and advances recoverable in cash
in cash or kind
or kind
[Abstract]
0 0 0 0
0 0 0 0
director
110

Loans advances given other related
Classification of loans and advances [Axis] Prepaid expenses [Member]
parties [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[Abstract]
Loans and advances, gross 12,40,13,605 7,19,28,000 49,57,488 56,47,598
0 0 0 0
advances
Loans and advances 12,40,13,605 7,19,28,000 49,57,488 56,47,598
[Abstract]
0 0 0 0
0 0 0 0
director

Classification of loans and advances [Axis] Advance tax [Member] Advance income tax paid [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[Abstract]
Loans and advances, gross 44,06,500 46,17,688 44,06,500 46,17,688
0 0 0 0
advances
Loans and advances 44,06,500 46,17,688 44,06,500 46,17,688
[Abstract]
0 0 0 0
0 0 0 0
director
111

Deposits with statutory authorities
Classification of loans and advances [Axis] MAT credit entitlement [Member]
[Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[Abstract]
Loans and advances, gross 1,15,23,625 1,17,81,874 3,17,04,446 3,67,99,260
0 0 0 0
advances
Loans and advances 1,15,23,625 1,17,81,874 3,17,04,446 3,67,99,260
[Abstract]
0 0 0 0
0 0 0 0
director

Classification of loans and advances [Axis]
[Member]
Classification of assets based on security [Axis] Unsecured considered good [Member]
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets [Abstract]
Loans and advances, gross 2,46,34,538 2,08,13,093
Allowance for bad and doubtful loans and advances 0 1,04,78,182
Loans and advances 2,46,34,538 1,03,34,911
Advances
Advances recoverable
Nature of other loans and advances recoverable in cash
in cash or kind
or kind
Details of loans and advances due by directors, other officers or others
[Abstract]
Loans and advances due by directors 0 0
Loans and advances due by other officers 0 0
Total loans and advances due by directors, other officers or others 0 0
Details of loans and advances due by firms or companies in which any
director is partner or director [Abstract]
Total loans and advances due by firms or companies in which any director
0 0
is partner or director
112
Subclassification of trade receivables [Table] ..(1)

Classification of assets based on security
Classification of assets based on security [Axis] Unsecured considered good [Member]
[Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[Abstract]
Trade receivables notes [Abstract]
Trade receivables [Abstract]
Subclassification of trade receivables
[Abstract]
Subclassification of trade receivables
[LineItems]
Breakup of trade receivables [Abstract]
Trade receivables, gross 23,44,93,688.6 18,31,94,211 23,44,93,688.6 17,46,36,529
Allowance for bad and doubtful debts 6,13,47,571.72 85,57,682 6,13,47,571.72 0
Total trade receivables 17,31,46,116.88 17,46,36,529 17,31,46,116.88 17,46,36,529
Details of trade receivables due by
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Details of trade receivables due by
firms or companies in which any director
is partner or director [Abstract]
Total trade receivables due by firms
or companies in which any director is 0 0
partner or director
Subclassification of trade receivables [Table] ..(2)

Classification of assets based on security [Axis] Doubtful [Member]
31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets [Abstract]
Trade receivables notes [Abstract]
Trade receivables [Abstract]
Subclassification of trade receivables [Abstract]
Subclassification of trade receivables [LineItems]
Breakup of trade receivables [Abstract]
Trade receivables, gross 0 85,57,682
Allowance for bad and doubtful debts 0 85,57,682
Total trade receivables 0 0
Details of trade receivables due by directors, other officers or others
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Details of trade receivables due by firms or companies in which any
director is partner or director [Abstract]
Total trade receivables due by firms or companies in which any
0 0
director is partner or director
113
Classification of inventories [Table] ..(1)

Classification of inventories [Axis] Company total inventories [Member] Raw materials [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[Abstract]
Inventories notes [Abstract]
Inventories [Abstract]
Classification of inventories [Abstract]
Details of inventories [LineItems]
Inventories 35,17,31,519.44 37,05,51,372 22,65,47,415 22,00,38,236
Goods in transit 0 64,95,307
valued at lower of valued at lower of
Mode of valuation cost and net cost and net realisable
realisable value value

Classification of inventories [Axis] Work-in-progress [Member] Finished goods [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[Abstract]
Inventories 1,05,26,830 73,59,055 12,97,44,941.2 12,40,43,461
Goods in transit 0 64,04,535
valued at lower of valued at lower of valued at lower of valued at lower of
Mode of valuation cost and net cost and net realisable cost and net cost and net realisable
realisable value value realisable value value

Classification of inventories [Axis] Stock-in-trade [Member] Stores and spares [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[Abstract]
Inventories 68,03,692.24 3,02,36,962 1,90,50,037 2,00,68,964
Goods in transit 0 90,772
valued at lower of valued at lower of valued at lower of valued at lower of
Mode of valuation cost and net cost and net realisable cost and net cost and net realisable
realisable value value realisable value value
114

Classification of inventories [Axis] Other inventories [Member] Other inventories, others [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[Abstract]
Inventories -4,09,41,396 -3,11,95,306 -4,09,41,396 -3,11,95,306
Mode of valuation NA NA
Provision for Provision for
Nature of other inventories obsolescence of obsolescence of
inventory inventory
115

01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of subclassification and notes on liabilities and assets
explanatory [TextBlock]
Trade payables, long-term 0 0
Total other long-term liabilities 0 0
Disclosure of notes on provisions explanatory [TextBlock] [See below]
Provision for Provision for
Nature of other provisions Contingencies Contingencies
Disclosure of notes on other current liabilities explanatory Textual information (53)
Current maturities of long-term debt 6,80,13,473 3,56,72,207
Interest accrued but not due on borrowings 75,930 9,23,378
Interest accrued and due on borrowings 0 0
Interest accrued but not due on public deposits 0 0
Interest accrued and due on public deposits 0 0
Debentures claimed but not paid 0 0
Unpaid dividends 0 0
Unpaid matured deposits and interest accrued thereon 0 0
Unpaid matured debentures and interest accrued thereon 0 0
Taxes payable other tax 0 1,69,42,797
Accrued expenses payable 0 3,83,64,445
Public deposit payable, current 0 0
Total other payables, current 0 5,53,07,242
Advance received from customers 29,70,829 3,17,604
Current liabilities portion of share application money pending
0 0
allotment
Other current liabilities, others 5,32,18,270 0
Total other current liabilities 12,42,78,502 9,22,20,431
Disclosure of notes on loans and advances explanatory [TextBlock] [See below]
Disclosure of notes on other non-current assets explanatory Textual information (55)
Other non-current assets, others 2,97,56,597.84 90,85,339
Total other non-current assets 2,97,56,597.84 90,85,339
Nature of other non-current assets, others Non-current Bank Balance Non-current Bank Balance
Disclosure of notes on inventories explanatory [TextBlock] [See below]
Disclosure of notes on trade receivables explanatory [TextBlock] [See below]
Aggregate amount of trade receivables outstanding for period
3,97,52,031 5,26,57,623
exceeding six months
Disclosure of notes on cash and bank balances explanatory [TextBlock] [See below]
Fixed deposits with banks 0 0
Other deposits with banks 2,81,831 24,85,000
Other balances with banks 15,77,847 9,93,664
Total balance with banks 18,59,678 34,78,664
Cash on hand 16,59,242 4,14,559
Total cash and cash equivalents 35,18,920 38,93,223
Other bank balances 0 5,25,12,499
Total cash and bank balances 35,18,920 5,64,05,722
Deposits with remaining Deposits with remaining
maturity for less than maturity for less than
Nature of other cash and cash equivalents twelve months, Margin twelve months, Margin
Money Deposited with bank Money Deposited with bank
Balances held with banks to extent held as margin money 0 4,13,43,355
Total balances held with banks to extent held as
margin money or security against borrowings, 0 4,13,43,355
guarantees or other commitments
Bank deposits with more than twelve months maturity 0 0
Disclosure of notes on other current assets explanatory [TextBlock] [See below]
Interest receivable 19,96,635 33,46,879
Other current assets, others 1,51,66,000 1,21,791
Total other current assets 1,71,62,635 34,68,670
116
Margin money deposit with

Nature of other current assets banks*
Export incentive accrued
Disclosure of notes on provisions explanatory [Text Block]
6. Provisions
As at As at
March 31, March 31,
2021 2020
Non-Current Current Non-Current Current
Provision for employee benefits
Provision for gratuity (refer note 31) 27926116 4550707 26946396 5182515
Provision for leave benefits 0 8467643 0 8531164
Provision for Contingencies* 0 28500000 0 13500000
Total 27926116 41518350 26946396 27213679
Movement of provision for contingency:
Opening Provision 0 13500000 0 0
Add: Created during the year* 0 15000000 0 13500000
Less: Utilised during the year 0 0 0 0
Closing Balance 0 28500000 0 13500000
* The company is in discussion with parties for recoverability of supplier

advance and other recoverable. The Management is confident of full
recoverability. As a matter of caution it has made contingency provision for any
losses that may occur in the recoverability.
117
Disclosure of notes on other current liabilities explanatory [Text Block]
Other Liabilities
Current maturities of long-term borrowings (refer note 5) 68013473 35672207
Interest accrued but not due on borrowings 75930 923378
Advances from Customers 2970829 317604
Statutory dues 20850763.11 16942796
Liability towards corporate social responsibility (CSR)# 780108.8867 0
Other payable* 31587398 38364445
(B) 124278502 92220431
(A+B) 779891257 718388439
* includes :
- customer claims yet to be paid/adjusted amounting to Rs. 10,402,148

(March 31, 2020 Rs. 17,179,195). In view of the management, these shall be
paid/adjusted in due course.
- grant received from the Ministry of Food Processing Industries (MoFPI)

amounting to Rs. 21,185,250 (March 31, 2020 Rs 21,185,250 ). Also refer
note 44.
# Provision for unspent Corporate Social Responsibility (CSR) amount is

made in accordance with the amendments made on January 22, 2021 in
section 135 of Companies Act 2013 (CSR) and based in the amounts spent
in the subsequent period on the activities approved and planned by the
Company's CSR committee and if unspent has to be deposited with the CSR
Fund within six months.
118
119
Disclosure of notes on loans and advances explanatory [Text Block]
12. Loans and Advances
As at As at
March 31, March 31,
2021 2020
Non-current Current Non-current Current
Capital advances (also refer note 44)
Unsecured considered good 31690772 0 30937701 0
Considered doubtful 86341 0 86341
31777113 0 31024042 0
Less: Provision for doubtful advances -86341 0 -86341 0
(A) 31690772 0 30937701 0
Security deposit
Unsecured, considered good 63743272 0 63808272 0
(B) 63743272 0 63808272 0
Loan and Advances to related parties
Unsecured, considered good
Recoverable from related parties (Refer Note

317008238 124013605 317559230 71928000
39)
Loan to given to Mrs Bectors Foods Private

500000 0 500000 0
Limited
(C) 317508238 124013605 318059230 71928000
120
Advances recoverable in cash or kind
Unsecured, considered good 792256 24989855 691455 10342969
Considered doubtful 1965926 13870736 1965927 10470124
2758182 38860591 2657382 20813093
Less: Provision for doubtful advances -1965926 -14226053 -1965927 -10478182
(D) 792256 24634538 691455 10334911
Others loans and advances:
Unsecured, considered good
Mat Credit Entitlement 0 11523625 0 11781874
Advance income tax (net) 0 4406500 0 4617688
Balances with government and statutory

3266205 31704446 3266205 36799260
authorities
Deposits paid under protest 3104840 0 5032800 0
Prepaid Expenses 0 4957488 0 5647598
(E) 6371045 52592059 8299005 58846420
Total 420105583 201240202 421795663 141109331

(A+B+C+D+E)
121
Disclosure of notes on other non-current assets explanatory [Text Block]
14. Other non current assets
As at As at
March 31, 2021 March 31, 2020
Non-current Bank Balance (refer note 17) 29756597.84 9085339
Total 29756597.84 9085339
Disclosure of notes on inventories explanatory [Text Block]
15. Inventories (valued at lower of cost and net realisable

value)
As at As at
March 31, March 31,
2021 2020
Raw materials and packing material (note 21) 226547415 220038236
Work-in-progress (note 22) 10526830 7359055
Finished goods (including sales in transit Rs. 17,507,914

129744941.2 124043461
(March 31, 2020: Rs. 6,404,535)
Traded Goods (including sales in transit Rs. 879,218 (March

6803692.238 30236962.06
31, 2020: Rs. 90,772)
Stores and Spares 19050037 20068964
392672915.4 401746678.1
Less: Provision for obsolescence of inventory -40941396 -31195306
Total 351731519.4 370551372.1
122
Disclosure of notes on trade receivables explanatory [Text Block]
16. Trade receivables
As at As at
March 31, March 31,
2021 2020
Outstanding for a period exceeding six months from the date they are due for
payment
Unsecured and considered good 39752031 52657623
Doubtful 58912323 31171797
98664354 83829420
Less: Provision for doubtful receivables -58912323 -31171797
(A) 39752031 52657623
Other receivables
Unsecured and considered good 133394085.9 121978906
Doubtful 2435248.72 5385885
135829334.6 127364791
Less: Provision for doubtful receivables -2435248.72 -5385885
(B) 133394085.9 121978906
Total (A+B) 173146116.9 174636529
123
Disclosure of notes on cash and bank balances explanatory [Text Block]
17. Cash and bank balances
As at As at
March 31, March 31,
2021 2020
Non-current Current Non-current Current
Cash and cash equivalents
Balance with banks
On current accounts 0 1577847 0 993664
Cash on hand 0 1659242 0 414559
Deposits with remaining maturity for less than three

0 281831 0 2485000
months
0 3518920 0 3893223
Other bank balances
Deposits with remaining maturity for less than twelve

0 0 0 11169144
months
Margin money deposit with banks* 29756597.84 15166000 9085339 41343355
29756597.84 15166000 9085339 52512499
Less: amount disclosed under non current assets (refer

-29756597.84 0 -9085339 0
note 14)
Total 0 18684920 0 56405722
*Balances in bank with deposits includes deposits

amounting Rs. 44,922,598 (March 31 2020 Rs.
28,428,694) pledged with the issuing bank towards
124
margin money to secure the letter of credit facility availed

by the Company and bank guarantee facility availed from
a bank by its subsidiary, Cremica Food Park Private
Limited.
*Balances in bank with deposits includes deposits

amounting Rs. NIL (March 31, 2020 Rs. 22,000,000) with
a bank duly lien marked in the favour of the bank against
the overdraft facilities availed by the Company.
Disclosure of notes on other current assets explanatory [Text Block]
18. Other current assets
As at As at
March 31, 2021 March 31, 2020
Interest accrued on deposit with bank 1996635 3346879
Export incentive accrued 0 121791
1996635 3468670
125
[200700] Notes - Additional disclosures on balance sheet

01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of additional balance sheet notes explanatory [TextBlock] [See below]
Claims against company not acknowledged as debt 3,67,83,838 4,07,04,139
Guarantees 32,94,00,000 32,94,00,000
Other money for which company is contingently liable 61,81,449.66 44,55,840
Total contingent liabilities 37,23,65,287.66 37,45,59,979
Estimated amount of contracts remaining to be executed on
19,96,71,328 13,35,98,793
capital account and not provided for
Total commitments 19,96,71,328 13,35,98,793
Total contingent liabilities and commitments 57,20,36,615.66 50,81,58,772
Amount of dividends proposed to be distributed to equity shareholders 0 0
Amount of per share dividend proposed to be distributed to equity
[INR/shares] 0 [INR/shares] 0
shareholders
Deposits accepted or renewed during period 0 0
Deposits matured and claimed but not paid during period 0 0
Deposits matured and claimed but not paid 0 0
Deposits matured but not claimed 0 0
Interest on deposits accrued and due but not paid 0 0
Share application money received during year 0 0
Share application money paid during year 0 0
Amount of share application money received back during year 0 0
Amount of share application money repaid returned back during year 0 0
Number of person share application money paid during year 0 0
Number of person share application money received during year 0 0
Number of person share application money paid as at end of year 0 0
Number of person share application money received as at end of year 0 0
Whether maintenance of cost records by company has been
mandated under Companies (Cost Records and Audit) Rules, No No
2014
Net worth of company 47,10,18,219 64,72,34,273
Unclaimed share application refund money 0 0
Unclaimed matured debentures 0 0
Unclaimed matured deposits 0 0
Interest unclaimed amount 0 0
Number of warrants converted into equity shares during period 0 0
Number of warrants converted into preference shares during period 0 0
Number of warrants converted into debentures during period 0 0
Number of warrants issued during period (in foreign currency) 0 0
Number of warrants issued during period (INR) 0 0
126
Disclosure of additional balance sheet notes explanatory [Text Block]
28. Contingent Liabilities and commitment (to the extent not

provided for)
(a) Capital commitment
The estimated amount of contract/ purchase order remaining

to be executed on capital goods and not provided for is Rs.
199,671,328 (net of adjustments of Rs. 70,718,370) (March
31, 2020 Rs. 133,598,793 (net of adjustments of Rs.
79,069,908)).
As at
As at
March
(b) Contingent liabilities March 31,
31,
2021
2020
(i) CST liabilities against pending 'C' forms 36783838 40704139.23
(ii) Corporate guarantee given by the Company on behalf of

329400000 329400000
Cremica Food Park Private Limited (wholly owned subsidiary)
(iii) Interest liability on grant returnable (refer note 44) 6181449.658 4062925
(iv) Preference dividend proposed for the previous year ended

0 392915
March 31, 2020 (including Dividend Distribution Tax)
(vi) During the year ending March 31, 2017, the Company
received an order from Commercial Tax Department of
Government of Telangana imposing a tax liability of Rs.
24,305,534 (including a penalty of Rs. 12,152,767) on account
of suppression of turnover in sales tax return for the financial
year 2014-15 and 2015-16. The Commercial Tax Department
has computed the tax liability on the basis of amount of e-way
bills, whereas the e-way bill data was erroneous. The
Company filed appeal against the same after depositing a
sum of Rs. 3,038,192 (March 31, 2020: Rs. 3,038,192). In the
previous year, Commissioner (Appeals) has remanded back
the case to the State Tax Officer and in pursuance to this,
demand for the has been quashed and accordingly possible
outstanding demand for the F.Y 2019-2020 year was NIL.
Further, during the year, the case has been disposed off in the
favour of the company vide order dated September 11, 2020.
127
(c) Contingency - Provident Fund
The Company has made provision in respect of liability

towards contribution to provident fund after taking into
consideration the judgement of Hon'ble Supreme Court (on
PF) dated February 28, 2019. There are numerous
interpretative issues relating to the Supreme Court (SC)
judgement. As a matter of caution, the company has made a
provision on a prospective basis from the date of the SC
order. The company will update its provision, on receiving
further clarity on the subject.
29. The company has leased facilities under both cancellable

and non cancellable operating leases arrangements with a
lease term ranging from one to fifteen years, which are
subject to renewal at mutual consent thereafter, The
cancellable arrangements can be terminated by either party
after giving due notice. The lease rent expenses recognized
during the year amounts to Rs. 28,203,629/- (March 31, 2020
Rs. 33,986,764). The future minimum lease payments in
respect of non cancellable operating leases as at March 31,
2021 is as follows:
As at As at
March March
31, 31,
2020 2020
a) not later than one year 0 0
b) later than one year but not later than five years 0 0
c) later than five years 0 0
30. The detail of amount outstanding to Micro, Small and

Medium Enterprises under the Micro, Small and Medium
Enterprises Development Act, 2006 (MSMED Act), based on
the available information with the company are as under:
As at As at
March March
31, 31,
2021 2020
The principal amount and interest due thereon remaining

unpaid to any suppliers as at the year end of each accounting
year
128
- Principal amount due to micro and small enterprises 79904392 58587572
- Interest due on above 2053831 827451
The amount of interest paid by the buyer in terms of section

16 of the MSMED Act 2006, along with the amounts of the
0 0
payment made to the supplier beyond the appointed day
during each accounting year.
The amount of interest due and payable for the period of

delay in making payment (which have been paid but beyond
6220823 3752155
the appointed day during the year) but without adding the
interest specified under the MSMED Act, 2006
The amount of interest accrued and remaining unpaid at the

8274654 4579606
end of each accounting year.
The amount of further interest remaining due and payable

even in the succeeding years, until such date when the
interest dues as above are actually paid to the small 9066672.62 4487066.62
enterprises for the purpose of disallowance as a deductible
expenditure under section 23 of the MSMED Act, 2006
32. Unhedged foreign currency exposure
a) The foreign currency exposures remaining

unhedged at the year end:
As at As at
March 31, March 31,
2021 2020
Foreign Amount Amount Foreign Amount Amount

Particulars
Currency (Rs.) (FC) Currency (Rs.) (FC)
129
Trade Receivables USD 12805385.96 177902 USD 9389618.404 124554.04
Trade Receivables EURO 0 0 EURO 2526023.346 30415.84
Trade Payables USD 151113.64 2017 USD 5011387.012 66476.45
Trade Payables EURO 0 0 EURO 3366866.495 40540.43
34. CIF value of imports
March 31, March 31,

2021 2020
Raw Material and packing material 25132688 169832332
Machines Spares 315683.6348 406413
Traded Goods 2513216.265 39361350
27961587.9 209600095
35. Expenditure in foreign currency (accrual basis)
March 31, March 31,

2021 2020
Travelling expenses 0 8236361
Other Expenses 140693 250314
Royalty 1347721.98 1483661
1488414.98 9970336
36. Earnings in foreign currency (accrual basis)
March 31, March 31,
130
2021 2020
FOB value of exports 7397105 13237296.96
7397105 13237296.96
37. Value of raw materials, packing material and stores and spare
parts consumed
March 31, March 31,

2021 2020
% of total % of total
(in Rs.) consumption (in Rs.) consumption
Raw materials and packing material consumed
Imported 50819751 0.047746303 195515013 0.118876452
Indigenous 1013550635 0.952253697 1449175836 0.881123548
1064370386 1 1644690849 1
Stores and spare parts
Imported 0 0 0 0
Indigenous 12023837 1 14972810 1
12023837 1 14972810 1
39. In the previous years, the Company had given interest free advances to its wholly owned subsidiary “Cremica Food Park
Private Limited” (Food Park) for the processing of tomato, other fruits and vegetables at their Multi Crop Pulping and Aseptic
Packing Line. The recovery of the same was expected to start from financial year ended March 31, 2020 in a phased manner.
However, due to natural reasons such as heavy rains, COVID etc. Food Park was not able to do the processing work for the
forecasted quantity and thus advance could not be adjusted. However, subsequent to the year-end, Food Park has processed
the tomato paste for the Company amounting to Rs 128,880,358 and the Company has given further advances of Rs.
88,000,478 and accordingly, as on date, the above referred advance is outstanding amounting to Rs. 276,128,358. In addition to
that:
131
(a) Food park has agreed to take scrap inventory of estimated value at Rs 15,289,105 towards the year end. The formal transfer
of the same is yet to take place.
(b) Company has trade receivables of Rs 37,015,999 and other recoverable in respect of business auxiliary service amounting to
Rs 108,724,500 as at March 31, 2021.
(c) Company has also given guarantees on behalf of food park as referred in note no 9 and 17.
Management is of the view that with further processing work to be done in future years, it shall be able to have sufficient cash
132
flows to pay back the liabilities of the Company.

The management is confident that all the above transactions have been made at Arm’s length and is confident of full recovery of
the above exposure with the Food Park.
41. During the year ended on March 31, 2018, the Company had paid a dividend of Rs. 362,574 (excluding dividend
distribution tax of Rs, 74,550) to the preference share holders of the Company which was in contravention of the provisions
of section 123 of the Companies Act. 2013. The Company is in the process of taking necessary steps for compounding of
this matter and has made an application for compounding to NCLT on August 17, 2019. Further, provision has been made,
for any possible penalty in this regard, which is not material for the financial statements.
42. As per the provisions of section 149 of Companies Act 2013 Company needs to have two Independent Directors on its
Board. However, one of the Independent Director has resigned during the year. Hence, to comply with section 149 of the
Companies Act, subsequent to the year end, the Company has appointed another independent director on November 27,
2020 in order to be compliant. The management shall later take appropriate steps for any condonation required in this
regard and does not anticipate any other material implication of the same
43. The Company has not been able to hold its Annual General Meeting for the year ended March 31, 2021 within a period
of nine months (including three-month extension) from the date of its year end as per the provisions of Companies Act,
2013. The management of the Company is in process of taking necessary action for compounding of the offence and is of
the view that it would not have any material financial impact in these financial statements and accordingly, no adjustments
are considered necessary in these financial statements at this stage
44. The Company obtained approval from Ministry of Food Processing Industries (MoFPI) for setting up of an Industrial Unit
in Noida, under the scheme of "Integrated Cold Chain and Value Addition Infrastructure" (the scheme) of Rs. 84,741,000,
The Cold Chain Project (the project) in Noida is being set up as an expansion to the current business of the Company for
manufacturing of sauces, juices etc. The Company has already incurred expenditure for setting up of the plant at Noida,
including capital advances amounting to Rs. 22,509,771 (Previous year Rs 22,509,771) and Capital Work in Progress
amounting to Rs. 38,487,304 (Previous year Rs 38,487,304). NABARD (the Bank) has not agreed to release the property of
land at which the project is being set up, which has been mortgaged in their favour as a collateral security for securing their
assistance for their subsidiary's (Cremica Food Park Private Limited) Mega Food Park Project. This has resulted into
non-disbursement of the term loan sanctioned for the project, which in turn has delayed the project. In the year 2018-19, the
Company has also received the first instalment of 25%, amounting to Rs. 21,185,250 against the approved scheme
mentioned above from MoFPI. Further, the Company has applied to MoFPI, to revise the capital grant amount from Rs.
84,741,000 to Rs. 40,671,000 and has proposed a reduction in the components required for grant application as per the
Scheme. In view of this, the grant received up till now, has been disclosed under the "Current Liability" considering the same
as returnable to MoFPI, as an abundant precaution. Possible interest if this liability is required to be paid, amounting to Rs
61,81,450 (PY Rs. 40,62,925) has been disclosed in contingent liability. In the year 2019-20, the Company has applied for
the extension of the timeline of project completion and was requested to complete the project till January 18, 2022 and
however the same could not the complete because of the COVID (reasons beyond the control of the Company). Further,
during the year the said project has been delayed because of COVID-19 and Company has also applied for extension of the
project to MoFPI and management is confident that they will release the mortgaged property from NABARD soon and the
project shall be completed in due course and no losses are anticipated, except those are already provided in the book.
45. During the current year the Company has entered into an arrangement with the vendor for supply of raw material at an
agreed rate. The Company has received the short supply of material against this arrangement and accordingly, subsequent
to the year end the Company has raised debit note of Rs 36,146,500 for the estimated losses incurred by the Company for
non-receipt of raw material at agreed price between with the vendor. The matter is under discussion with the vendor and till
date the same has not reached to conclusion. Basis the legal opinion obtained by the management and discussion with the
vendor, the management is confident of recovering the amount of Rs 36,146,400 and accordingly it has been accrued in the
current financial statement as other income
46 (a) The global pandemic outbreak has impacted the Company’s business in early part of the financial year 2020-2021.
However, the Company has been able to partially recover from the same. The Company has considered the possible effects
that may result from the pandemic relating to COVID-19 on the carrying value of its assets and also, assessed the
133
recoverability of its assets comprising property, plant and equipment, intangible assets, capital work in progress, capital
advances, inventories and trade receivables, Current and Non-Current Assets (including MAT Credit) using the various
internal and external information up to the date of approval of these financial statements. On the basis of the said evaluation
and current indicators of future economic conditions, the Company expects to recover the carrying amount of its assets and
does not anticipate any impairment of these financial and non-financial assets. Further, the Company has prepared cash
flow projections for next 12 months and believes that there is no impact on its ability to continue as a going concern and
meeting its liabilities as and when they fall due. However, considering the unpredictability of the pandemic and inherent
uncertainty on the potential future impact of the COVID 19 pandemic, the Company’s financial statements may differ from
that estimated as on the date of approval of these financial statements.
46 (b). The management is of the view that due to on- going COVID situation for past two years it has not been able to
establish internal control considering the essential components of internal control stated in the Guidance Note issued by the
Institute of Chartered Accountant of India.
47. Previous year figures have been regrouped and/or rearranged wherever necessary to conform to this year's
classification.
[200800] Notes - Disclosure of accounting policies, changes in accounting policies and estimates
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of accounting policies, change in accounting policies and Textual information (61)
changes in estimates explanatory [TextBlock] [See below]
Disclosure of general information about company [TextBlock] [See below]
134
Disclosure of accounting policies, change in accounting policies and changes in estimates explanatory [Text Block]
Cremica
Food
Industries
Limited
Notes to
Financial
Statements
for the year
ended on
March 31,
2021
1 Company Information
Cremica Food Industries Limited (the company) is a public company domiciled in

India and incorporated under the provisions of the Companies Act, 1956. The
Company is engaged in the business of manufacturing and distribution of ketchup
and other various variants of sauces like mint sauce, tamarind sauce, bread
spreads, mayonnaise etc. The Company is selling its products in domestic markets
and also export markets.
2 Basis of preparation
The financial statements of the company have been prepared in accordance with
the generally accepted accounting principles in India (Indian GAAP). The company
has prepared these financial statements to comply in all material respects with the
accounting standards notified under section 133 of the Companies Act 2013 read
together with the Companies (Accounting Standards) Amendment Rules, 2006 (as
amended from time to time). The financial statements have been prepared on an
accrual basis and under the historical cost convention.
The accounting policies adopted in the preparation of financial statements are

consistent with those of previous year.
2.1 Summary of significant accounting policies
a. Use of estimates
135
The preparation of condensed financial statements are in conformity with Indian

generally accepted accounting principles (Indian GAAP) requires the management
to make judgments, estimates and assumptions that affect the reported amounts of
revenues, expenses, assets and liabilities and the disclosure of contingent
liabilities, at the end of the reporting period. Although these estimates are based on
the management’s best knowledge of current events and actions, uncertainty about
these assumptions and estimates could result in the outcomes requiring a material
adjustment to the carrying amounts of assets or liabilities in future periods.
Changes in estimates are reflected in the financial statements in the period in which
changes are made and if material, their effects are disclosed in notes to accounts.
b. Property, plant and equipment
Property, plant and equipment, capital work in progress are stated at cost, net of
accumulated depreciation and accumulated impairment losses, if any. The cost
comprises purchase price, borrowing costs if capitalization criteria are met, directly
attributable cost of bringing the asset to its working condition for the intended use
and initial estimate of decommissioning, restoring and similar liabilities. Any trade
discounts and rebates are deducted in arriving at the purchase price.
When significant parts of plant and equipment are required to be replaced at

intervals, the Company depreciates them separately based on their specific useful
lives. Likewise, when a major inspection is performed, its cost is recognised in the
carrying amount of the plant and equipment as a replacement if the recognition
criteria are satisfied. All other repair and maintenance costs are recognised in
statement of profit or loss as incurred.
Items of stores and spares that meet the definition of plant, property and equipment
are capitalized at cost and depreciated over their useful life. Otherwise, such items
are classified as inventories.
Gains or losses arising from derecognition of property, plant and equipment are
measured as the difference between the net disposal proceeds and the carrying
amount of the asset and are recognized in the statement of profit and loss when the
asset is derecognized
The company identifies and determines cost of each component/ part of the asset
separately, if the component/ part has a cost which is significant to the total cost of
the asset and has useful life that is materially different from that of the remaining
asset.
c. Depreciation on property, plant and equipment
136
Leasehold land is amortized on a straight line basis over the period of lease.
Depreciation on property, plant and equipment is calculated on a straight-line basis

using the rates arrived at, based on the useful lives estimated by the management.
The identified components are depreciated separately over their useful lives; the
remaining components are depreciated over the life of the principal asset. The
company has used the following rates to provide depreciation on its plant, property
and equipment:
Indicative
useful
Estimated useful Life as
Particulars
Life (years) per
Schedule
II (years)
Factory building 30 30
Plant and Machinery* (except below) 15 15
Furniture and fixtures 10 10
Vehicles 8 8
Office equipment 5 5
Computer 3 3
*Depreciation is charged on Plant and Machinery on shift basis.
The residual values, useful lives and methods of depreciation of property, plant and
equipment are reviewed at each financial year end and adjusted prospectively, if
appropriate.
(i) The management has estimated a useful life of crates, pallets and cylinders
capitalised in plant and machinery as three years.
137
d. Intangible Assets
Intangible assets acquired separately are measured on initial recognition at cost.

Following initial recognition, intangible assets are carried at cost less accumulated
amortization and accumulated impairment losses, if any. Internally generated
intangible assets, excluding capitalized development costs, are not capitalized and
expenditure is reflected in the statement of profit and loss in the period in which the
expenditure is incurred.
Intangible assets are amortized on a straight line basis over the estimated useful
economic life.
Estimated Useful
Intangible Assets
Life (Years)
Over the estimated

Computer Software economic useful
lives i.e. 6 years.
Gains or losses arising from de-recognition of an intangible asset are measured as

the difference between the net disposal proceeds and the carrying amount of the
asset and are recognized in the statement of profit and loss when the asset is
derecognized.
e. Leases
Operating Lease
Where the Company is lessee
Leases, where the lessor effectively retains substantially all the risks and benefits
of ownership of the leased item are classified as operating leases. Operating lease
payments are recognized as an expense in the statement of profit and loss on a
straight-line basis over the lease term.
f. Borrowing costs
138
Borrowing cost includes interest, amortization of ancillary costs incurred in

connection with the arrangement of borrowings.
Borrowing costs directly attributable to the acquisition, construction or production of
an asset that necessarily takes a substantial period of time to get ready for its
intended use or sale are capitalized as part of the cost of the respective asset. All
other borrowing costs are expensed in the period they occur.
g. Impairment of fixed assets
The Company assesses at each reporting date whether there is an indication that
an asset may be impaired. If any indication exists, or when annual impairment
testing for an asset is required, the Company estimates the asset's recoverable
amount. An asset's recoverable amount is the higher of an asset's or
cash-generating units (CGU) net selling price and its value in use. The recoverable
amount is determined for an individual asset, unless the asset does not generate
cash inflows that are largely independent of those from other assets or groups of
assets. Where the carrying amount of an asset or CGU exceeds its recoverable
amount, the asset is considered impaired and is written down to its recoverable
amount. In assessing value in use, the estimated future cash flows are discounted
to their present value using a pre-tax discount rate that reflects current market
assessments of the time value of money and the risks specific to the asset. In
determining net selling price, recent market transactions are taken into account, if
available. If no such transactions can be identified, an appropriate valuation model
is used.
Impairment losses of continuing operations, including impairment on inventories,

are recognized in the statement of profit and loss. After impairment, depreciation is
provided on the revised carrying amount of the asset over its remaining useful life.
An assessment is made at each reporting date as to whether there is any indication

that previously recognized impairment losses may no longer exist or may have
decreased. If such indication exists, the company estimates the asset’s or
cash-generating unit’s recoverable amount. A previously recognized impairment
loss is reversed only if there has been a change in the assumptions used to
determine the asset’s recoverable amount since the last impairment loss was
recognized. The reversal is limited so that the carrying amount of the asset does
not exceed its recoverable amount, nor exceed the carrying amount that would
have been determined, net of depreciation, had no impairment loss been
recognized for the asset in prior years. Such reversal is recognized in the statement
of profit and loss.
h. Investments
Investments, which are readily realizable and intended to be held for not more than
one year from the date on which such investments are made, are classified as
current investments. All other investments are classified as long-term investments.
139
On initial recognition, all investments are measured at cost. The cost comprises
purchase price and directly attributable acquisition charges such as brokerage, fees
and duties. If an investment is acquired, or partly acquired, by the issue of shares
or other securities, the acquisition cost is the fair value of the securities issued. If an
investment is acquired in exchange for another asset, the acquisition is determined
by reference to the fair value of the asset given up or by reference to the fair value
of the investment acquired, whichever is more clearly evident.
Long-term investments are carried at cost. However, provision for diminution in

value is made to recognize a decline other than temporary in the value of the
investments.
On disposal of an investment, the difference between its carrying amount and net
disposal proceeds is charged or credited to the statement of profit and loss.
i. Inventories
Inventories are valued as follows:
Lower of cost and

net realizable
value. However,
materials and other
items held for use
in the production of
inventories are not
written down below
cost if the finished
products in which
they will be
incorporated are
Raw materials and components, Stores and spares (including packing
expected to be
materials)
sold at or above
cost.
Cost is determined
on a weighted
average basis.
Stores and spares
which do not meet
the definition of
plant, property and
equipment are
accounted as
inventories.
140
Lower of cost and

net realizable
value. Cost of
Finished goods
and
Work-in-progress
includes direct
materials, labour
Finished goods, Traded Goods and Work-in- progress and a proportion of
manufacturing
overheads based
on normal
operating capacity.
Cost is determined
on
weighted average
basis.
At net realizable
Scrap
value.
Net realizable value is the estimated selling price in the ordinary course of
business, less estimated costs of completion and to make the sale.
j. Revenue recognition and other income
Revenue is recognized to the extent that it is probable that the economic benefits
will flow to the Company and the revenue can be reliably measured. The following
specific recognition criteria must also be met before revenue is recognized:
Sale of goods
Revenue from sale of Goods is recognized when the significant risks and rewards
of ownership of the goods have passed to the buyer usually on delivery of Goods to
the customer. The Company collects goods and service tax (GST), on behalf of the
government and, therefore, these are not economic benefits flowing to the
Company. Hence, they are excluded from revenue. Excise duty deducted from
revenue (gross) in previous year is the amount that is included in the revenue
(gross) and not the entire amount of liability arising during the year.
Business Support Services
Income from business support services are recognized on delivery of services in

terms of the agreement
141
Interest
Interest income is recognized on a time proportion basis taking into account the
amount outstanding and the applicable interest rate. Interest income is included
under the head “other income” in the statement of profit and loss.
Dividends
Dividend income is recognized when the company’s right to receive dividend is

established by the reporting date.
Export incentives
Export incentives are recognized in the statement of profit and loss when the right
to receive credit as per the terms of the scheme is established in respect of export
made.
k. Foreign currency translation
(i) Initial Recognition
Foreign currency transactions are recorded in the reporting currency, by applying to

the foreign currency amount the exchange rate between the reporting currency and
the foreign currency at the date of the transaction.
(ii) Conversion
Foreign currency monetary items are retranslated using the exchange rate
prevailing at the reporting date. Non-monetary items, which are measured in terms
of historical cost denominated in a foreign currency, are reported using the
exchange rate at the date of the transaction. Non-monetary items, which are
measured at fair value or other similar valuation denominated in a foreign currency,
are translated using the exchange rate at the date when such value was
determined.
142
(iii) Exchange differences
Rates different from those at which they were initially recorded during the period, or
reported in previous financial statements, are recognized as income or as
expenses in the period in which they arise.
l. Retirement and other Employee Benefits
Retirement benefit in the form of provident fund is a defined contribution scheme.

The company has no obligation, other than the contribution payable to the
provident fund. The company recognizes contribution payable to the provident fund
scheme as expenditure, when an employee renders the related service.
The company operates one defined benefit plans for its employees, viz., gratuity.
The costs of providing benefits under these plans are determined on the basis of
actuarial valuation at each year-end. Separate actuarial valuation is carried out for
each plan using the projected unit credit method. Actuarial gains and losses for
both defined benefit plans are recognized in full in the period in which they occur in
the statement of profit and loss.
Accumulated leave, which is expected to be utilized within the next 12 months, is

treated as short-term employee benefit. The Company measures the expected cost
of such absences as the additional amount that it expects to pay as a result of the
unused entitlement that has accumulated at the reporting date.
The Company treats accumulated leave expected to be carried forward beyond

twelve months, as long-term employee benefit for measurement purposes. Such
long-term compensated absences are provided for based on the actuarial valuation
using the projected unit credit method at the year-end. Actuarial gains/losses are
immediately taken to the statement of profit and loss and are not deferred. The
company presents the leave as a current liability in the balance sheet, to the extent
it does not have an unconditional right to defer its settlement for 12 months after
the reporting date.
m. Income Taxes
143
Tax expense comprises current and deferred tax. Current income-tax is measured
at the amount expected to be paid to the tax authorities in accordance with the
Income-tax Act, 1961 enacted in India. The tax rates and tax laws used to compute
the amount are those that are enacted or substantively enacted, at the reporting
date. Current income tax relating to items recognized directly in equity is
recognized in equity and
not in the statement of profit and loss.
Deferred income taxes reflect the impact of timing differences between taxable
income and accounting income originating during the current year and reversal of
timing differences for the earlier years. Deferred tax is measured using the tax rates
and the tax laws enacted or substantively enacted at the reporting date. Deferred
income tax relating to items recognized directly in equity is recognized in equity and
not in the statement of profit and loss.
Deferred tax liabilities are recognized for all taxable timing differences. Deferred tax
assets are recognized for deductible timing differences only to the extent that there
is reasonable certainty that sufficient future taxable income will be available against
which such deferred tax assets can be realized. In situations where the Company
has unabsorbed depreciation or carry forward tax losses, all deferred tax assets are
recognized only if there is virtual certainty supported by convincing evidence that
they can be realized against future taxable profits.
At each reporting date, the Company re-assesses unrecognized deferred tax

assets. It recognizes unrecognized deferred tax asset to the extent that it has
become reasonably certain or virtually certain, as the case may be, that sufficient
future taxable income will be available against which such deferred tax assets can
be realized.
The carrying amount of deferred tax assets are reviewed at each reporting date.
The Company writes-down the carrying amount of deferred tax asset to the extent
that it is no longer reasonably certain or virtually certain, as the case may be, that
sufficient future taxable income will be available against which deferred tax assets
can be realized. Any such write-down is reversed to the extent that it becomes
reasonably certain or virtually certain, as the case may be, that sufficient future
taxable income will be available.
Deferred tax assets and deferred tax liabilities are offset, if a legally enforceable
right exists to set-off current tax assets against current tax liabilities and the
deferred tax assets and deferred taxes relate to the same taxable entity and the
same taxation authority.
Minimum alternate tax (MAT) paid in the period/ year is charged to the statement of
profit and loss as current tax. The company recognizes MAT credit available as an
asset only to the extent that there is convincing evidence that the company will pay
normal income tax during the specified period, i.e., the period for which MAT credit
is allowed to be carried forward. In the period/year in which the company
recognizes MAT credit as an asset in accordance with the Guidance Note on
Accounting for Credit Available in respect of Minimum Alternative Tax under the
Income-tax Act, 1961, the said asset is created by way of credit to the statement of
profit and loss and shown as “MAT Credit Entitlement.” The company reviews the
“MAT credit entitlement” asset at each reporting date and writes down the asset to
the extent the company does not have convincing evidence that it will pay normal
tax during the specified period.
n. Segment Reporting
Identification of segments
144
The Company’s operations pre-dominantly relate to one business segment of

manufacturing and distribution of ketchup and other various variants of sauces like
mint sauce, tamarind sauce, bread spreads, mayonnaise etc. where risk and
returns are not at variance. Thus, there is no reportable segment as per Accounting
Standard (AS-17) “Segment Reporting”.
Segment accounting policies
The analysis of geographical segment is based on the geographical locations of the

customers i.e. customers located within India and customers located outside India.
o. Earning per share
Basic earnings per share are calculated by dividing the net profit or loss for the
period attributable to equity shareholders (after deducting preference dividends and
attributable taxes) by the weighted average number of equity shares outstanding
during the period.
For the purpose of calculating diluted earnings per equity share, the net profit or
loss for the period attributable to equity shareholders and the weighted average
number of shares outstanding during the period are adjusted for the effects of all
dilutive potential equity shares.
p. Provisions
A provision is recognised when an enterprise has a present obligation as a result of

past event and it is probable that an outflow of resources will be required to settle
the obligation and a reliable estimate can be made of the amount of the obligation.
Provisions are not discounted to its present value and are determined based on
best management estimate required to settle the obligation at the balance sheet
date. These are reviewed at each balance sheet date and adjusted to reflect the
current best management estimates.
q. Contingent Liabilities
A contingent liability is a possible obligation that arises from past events whose
existence will be confirmed by the occurrence or non-occurrence of one or more
uncertain future events beyond the control of the Company or a present obligation
that is not recognized because it is not probable that an outflow of resources will be
required to settle the obligation. A contingent liability also arises in extremely rare
cases where there is a liability that cannot be recognized because it cannot be
measured reliably. The Company does not recognize a contingent liability but
discloses its existence in the financial statements.
145
r. Cash and Cash equivalents
Cash and cash equivalents in the cash flow statement comprise cash at bank and
in hand and short- term investments with an original maturity of three months or
less.
s. Measurement of EBITDA
As permitted by the Guidance Note on the Schedule III to the Companies Act,
2013, the company has elected to present earnings before interest, tax,
depreciation and amortization (EBITDA) as a separate line item on the face of the
statement of profit and loss. The company measures EBITDA on the basis of profit/
(loss) from continuing operations. In its measurement, the company does not
include depreciation and amortization expense, interest income, finance costs and
tax expense.
t. Employee stock compensation cost
Employees (manager and above) of the company receive remuneration in the form
of share based payment transactions, whereby employees render services as
consideration for equity instruments (equity-settled transactions).
In accordance with the Guidance Note on Accounting for Employee Share-based

Payments, the cost of equity-settled transactions is measured using the intrinsic
value method. The cumulative expense recognized for equity-settled transactions
at each reporting date until the vesting date reflects the extent to which the vesting
period has expired and the company’s best estimate of the number of equity
instruments that will ultimately vest. The expense or credit recognized in the
statement of profit and loss for a period represents the movement in cumulative
expense recognized as at the beginning and end of that period and is recognized in
employee benefits expense.
Where the terms of an equity-settled transaction award are modified, the minimum
expense recognized is the expense as if the terms had not been modified, if the
original terms of the award are met. An additional expense is recognized for any
modification that increases the total intrinsic value of the share-based payment
transaction, or is otherwise beneficial to the employee as measured at the date of
modification.
u. Government Grants
Grants and subsidies from the government are recognized when there is
reasonable assurance that :
(i) the company will comply with the conditions attached to them, and
(ii) the grant/subsidy will be received.
146
When the grant or subsidy relates to revenue, it is recognized as income on a

systematic basis in the statement of profit and loss over the periods necessary to
match them with the related costs, which they are intended to compensate. Where
the grant relates to an asset, it is recognized as deferred income and released to
income in equal amounts over the expected useful life of the related asset.
Where the company receives non-monetary grants, the asset is accounted for on
the basis of its acquisition cost. In case a non-monetary asset is given free of cost,
it is recognized at a nominal value.
Government grants of the nature of promoters’ contribution are credited to capital

reserve and treated as a part of the shareholders’ funds.
* This
space has
been
intentionally
left blank.*
Disclosure of general information about company [Text Block]
Cremica Food Industries Limited (the company) is a public company domiciled in India and incorporated under the provisions of
the Companies Act, 1956. The Company is engaged in the business of manufacturing and distribution of ketchup and other
various variants of sauces like mint sauce, tamarind sauce, bread spreads, mayonnaise etc. The Company is selling its products
in domestic markets and also export markets.
147
[201700] Notes - Government grants

01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of notes on government grants explanatory [TextBlock]
Capital subsidies or grants received from government authorities 0 0
Revenue subsidies or grants received from government authorities 0 0
[201200] Notes - Employee benefits
Disclosure of defined benefit plans [Table] ..(1)

Domestic defined
Defined benefit plans [Axis] benefit plans
[Member]
Defined benefit plans categories [Axis] 1
01/04/2019
to
31/03/2020
Disclosure of defined benefit plans [Abstract]
Disclosure of defined benefit plans [LineItems]
Textual information
Description of accounting policy for defined benefit plans (63) [See below]
Description of type of plan GRATUITY
Reconciliation of changes in present value of defined benefit obligation [Abstract]
Changes in defined benefit obligation, at present value [Abstract]
Increase (decrease) through current service cost, defined benefit obligation, at present value 53,69,051
Increase (decrease) through interest cost, defined benefit obligation, at present value 19,19,564
Increase (decrease) through actuarial losses (gains), defined benefit obligation, at present
-12,81,437
value
Decrease through benefits paid, defined benefit obligation, at present value 10,50,930
Total changes in defined benefit obligation, at present value 75,19,122
Reconciliation of changes in fair value of plan assets [Abstract]
Changes in plan assets, at fair value [Abstract]
Total changes in plan assets, at fair value 0
Recognised assets and liabilities of defined benefit plans [Abstract]
Net liability (asset) of defined benefit plans 0
Reconciliation of liability asset of defined benefit plans [Abstract]
Net liability (asset) of defined benefit plans 0
Experience adjustments on plan assets and plan liabilities [Abstract]
Net surplus (deficit) in plan 0

01/04/2020
to
31/03/2021
Disclosure of employee benefits explanatory [TextBlock] [See below]
Description of accounting policy for defined benefit plans

The company has a defined benefit gratuity benefit plan. Every employee who has completed 5 years or more of service gets a gratuity on
departure at 15 days salary (last drawn salary) for each completed year of service. The scheme was funded with Life Insurance Corporation of
India in the form of a qualifying insurance policy till previous year.
148
Disclosure of employee benefits explanatory [Text Block]
31. (i) Employee Benefits - Gratuity (Defined Benefit)
The company has a defined benefit gratuity benefit plan.

Every employee who has completed 5 years or more of
service gets a gratuity on departure at 15 days salary (last
drawn salary) for each completed year of service. The
scheme was funded with Life Insurance Corporation of
India in the form of a qualifying insurance policy till previous
year.
The following table summarizes the components of net

benefit expenses recognised in the statement of profit and
loss and amount recognised in the balance sheet in the
respective year:
a) Changes in the present value of the defined benefit

obligation are as follows:
March 31, March 31,

2021 2020
Present value of obligation as at the beginning of the year 32128911 24609789
Interest cost 2181553 1919564
Current service cost 4683464 5369051
Past service cost 0 0
Benefits paid -2097870 -1050930
Actuarial Loss/(gain) on obligation -4419235 1281437
Present value of obligation as at the close of the year 32476823 32128911
b) Change in fair value of plan assets are as follows:
149
March 31, March 31,

2021 2020
Fair value of plan assets as at the beginning of the year 0 0
Expected return on plan assets 0 0
Amount received during the year 0 0
Fair value of plan assets as at the end of the year 0 0
100% of the amount in plan assets was being maintained

with LIC of India till last year.
c) Amount recognized in balance sheet
March 31, March 31,

2021 2020
Estimated present value of obligations as at the end of the

32476823 32128911
year
Fair value of plan assets as at the end of the year 0 0
Net liability 32476823 32128911
d) Net employee benefit expense recognized in the

employee cost
March 31, March 31,

2021 2020
Current service cost 4683464 5369051
Past service cost 0 0
Interest Cost 2181553 1919564
Expected return on plan assets 0 0
Net Actuarial (Gain)/Loss recognized in the year -4419235 1281437
150
Total expenses to be recognized in statement of profit and

2445782 8570052
loss
e) Principal actuarial assumption at the balance sheet date

(expressed as weighted average)
March 31, March 31,

2021 2020
Gratuity Gratuity
Discount Rate 0.0679 0.0679
Expected rate of return on Plan Assets 0 0
Expected Rate of Salary Increase 0.07 0.07
Method Used PUC PUC
f) The estimates of future salary increases, considered in

actuarial valuation, take account of inflation, seniority,
promotion and other relevant factors, such as supply and
demand in employment market.
The overall expected rate of return on assets is determined
based on the market prices prevailing on that date,
applicable to the period over which the obligation is to be
settled. There has been significant change in expected rate
of return on assets due to change in the market scenario.
g) Amount recognised for current period and previous

periods are as follows:
March 31, March 31, March 31, March 31, March 31,
2021 2020 2019 2018 2017
151
Defined benefit obligation 32476823 32128911 24609789 18703286 16208096
Plan assets 0 0 0 6188978 5883534
(Deficit) -32476823 -32128911 -24609789 -12514308 -10324562
h) Demographic Assumptions
March 31, March 31,

2021 2020
Gratuity Gratuity
(Funded) (Funded)
i) Retirement Age 60 60
IALM IALM
ii) Mortality Table
(2012 - 14) (2012 - 14)
Withdrawal Withdrawal
iii) Ages
Rate (%) Rate (%)
Upto 30 Years 0.1 0.1
From 31 to 44 Years 0.16 0.16
Above44 Years 0.04 0.04
[300400] Notes - Employee share-based payments
Disclosure of number and weighted average remaining contractual life of outstanding stock options [Table] ..(1)
Ranges of exercise prices for outstanding stock options [Axis] 1
31/03/2021 31/03/2020
Disclosure of number and weighted average remaining contractual life of outstanding
stock options [Abstract]
Disclosure of number and weighted average remaining contractual life of
outstanding stock options [LineItems]
Number of outstanding stock options 22,358 16,858
Weighted average remaining contractual life of outstanding stock options 89.33 7.09
152
Disclosure of number and weighted average exercise prices of stock options [Table] ..(1)
Groups of stock options [Axis] Stock options outstanding [Member] Stock options granted [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Disclosure of number and weighted average
exercise prices of stock options [Abstract]
Disclosure of number and weighted average
exercise prices of stock options [LineItems]
Number of stock options in employee
16,858 16,858 6,625 8,875
share-based payment arrangement
Weighted average exercise price of stock
options in employee share-based payment 0 82.29 0 82.29
arrangement
Disclosure of number and weighted average exercise prices of stock options [Table] ..(2)
Groups of stock options [Axis] Stock options exercised [Member]
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of number and weighted average exercise prices of stock options [Abstract]
Disclosure of number and weighted average exercise prices of stock options
[LineItems]
Number of stock options in employee share-based payment arrangement 0 892
Weighted average exercise price of stock options in employee share-based payment
0 90
arrangement
Disclosure of terms and conditions of employee share-based payment arrangement [Table] ..(1)
Types of employee share-based payment arrangements [Axis] 1
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of terms and conditions of employee share-based payment arrangement
[Abstract]
Disclosure of terms and conditions of employee share-based payment arrangement
[LineItems]
Description of method used to account for employee share-based payment arrangement (65) [See below] (66) [See below]
Description of maximum term of options granted for employee share-based payment
4 YEARS 4 YEARS
arrangement
The options would
The options would be
be granted at the
granted at the exercise
exercise price that is
price that is linked
linked with the book
with the book value of
Description of method of settlement for employee share-based payment arrangement value of the
the Company as on
Company as on the
the date of vesting of
date of vesting of
the Options with the
the Options with the
Grantees.
Grantees.

01/04/2020
to
31/03/2021
Disclosure of notes on employee share-based payment arrangements explanatory Textual information (67)
Disclosure of terms and conditions of employee share-based payment
arrangement explanatory [TextBlock]
Disclosure of number and weighted average exercise prices of stock
options explanatory [TextBlock]
Disclosure of number and weighted average remaining contractual life
of outstanding stock options explanatory [TextBlock]
153
Description of method used to account for employee share-based payment arrangement

All the permanent employees of the Company in the rank of Manager and above, having being completed 3 years of Service in the organization
except the promoter, or any director holding more than 10% of the outstanding Equity shares of the Company, are eligible to participate in the
schemes
Description of method used to account for employee share-based payment arrangement

All the permanent employees of the Company in the rank of Manager and above, having being completed 3 years of Service in the organization
except the promoter, or any director holding more than 10% of the outstanding Equity shares of the Company, are eligible to participate in the
schemes
154
Disclosure of notes on employee share-based payment arrangements explanatory [Text Block]
38. Share based payments
(A) Employee Stock Option Scheme
The Company has issued stock options to its employees in

accordance with the Company’s Employee Stock Option
Scheme 2018. The scheme has been adopted by the Board of
Directors on April 6, 2018 and the same was approved by the
members of the Company on April 10, 2018. The scheme is
administered by the Cremica Employees Welfare Trust
established by the Company for extending benefits of the
scheme to the existing and future employees of the Company.
The maximum number of options that may be issued pursuant
to this scheme shall not exceed 1,44,000 options representing
2.5% of the paid up share capital of the Company as on April
10, 2018, which shall be convertible into equal number of
Equity Shares of the Company at the time of the Exercise of
such options by the Grantee. All the permanent employees of
the Company in the rank of Manager and above, having being
completed 3 years of Service in the organization except the
promoter, or any director holding more than 10% of the
outstanding Equity shares of the Company, are eligible to
participate in the schemes. The Committee grants stock
options to the employees at its discretion depending upon
criteria such role of the employee, length of service with the
Company, past performance record, future potential of the
employee and/or such other criteria that may be determined
by the Committee.
The stock option shall vest proportionately over the period of 4

years from the date of grant in the ratio of 10% for the first
year, 20% for second year, 30% for the third year and 40% for
the fourth year. The options would be granted at the exercise
price that is linked with the book value of the Company as on
the date of vesting of the Options with the Grantees. The
exercise price, in cash, is paid by the employee at the time of
exercise of the stock option. The option lapses if not exercised
within a period of 4 years from the date of vesting of
option. The lapsed option is available for being re-granted/
re-issued at a future date. The maximum number of options
that may be granted to any specific employee is upto 0.5 % of
the issued capital of the company as on the date of
entitlement of options.
No. of
Exercise
Date of Grant options Fair Value
Price
granted
May 2, 2018 8875 69.81 94.19
June 7, 2019 8875 82.29 210.24
155
December 30, 2020 6625 89.33 132.31
(B) Summary of stock options
The details of activity under the Scheme 2018 are

summarized below:
For the
For the
year
year ended
Particulars ended
March 31,
March 31,
2021
2020
Weighted
Weighted
No. of Average No. of
Life Average Life
Shares Exercise Shares
Price
Price
Options outstanding at the beginning of the year 16858 82.29 3.545 8875 82.29036237 3.09
Options granted during the year 6625 89.33 4 8875 82.29 4
Options forfeited / lapsed during the year 1125 86.52 0 0 0 0
Options exercised during the year 0 0 0 892 90 0
Options outstanding at the end of the year 22358 89.33 3.68 16858 82.29 3.545
Options exercisable at the end of the year 0 0 0 0 0 0
(C) Range of exercise price and weighted average remaining

contractual life of stock options outstanding:
156
For the
year ended
For the year ended March 31, 2021
March 31,
2020
Number of
Weighted Weighted
stock Range
Range of average average
options of
Number of stock options outstanding at the year end exercise remaining remaining
outstanding exercise
price contractual contractual
at the year price
life life
end
22358 89.33 3.68 16858 82.29 3.545
(D) Weighted average fair value of options: The fair value of

each option is estimated using the Black Scholes model after
applying the following weighted average assumptions:-
For the
For the
year
year ended
Particulars ended
March 31,
March 31,
2021
2020
Risk free interest rate 0.074 0.074
Expected Volatility 0 0
Exercise Price 89.33 82.29
(E) The Company has used intrinsic value method of

accounting ESOP expenses, to account for stock options
issued under the Company's stock options schemes. Under
this method, compensation expenses are recorded on the
basis of excess of the fair value of share at the date of grant of
option over exercise price of the option.
There would be no impact on the profit or earnings per share

had the company used the fair value of the options as the
method of accounting instead of intrinsic value as the fair
value is less than the intrinsic value of the option.
(F) Following is the table showing Fair Value, Exercise Price

and amount of expenditure not recognised at each Balance
157
Sheet date
No. of
options
outstanding Face Value
No. of Exercise
As at of Each Fair Value
Shares Value
(vested but Share
not
exercised)
March 31, 2020 16858 16858 10 82.29 210.24
March 31, 2021 22358 22358 10 89.33 132.31
[201300] Notes - Segments

01/04/2020
to
31/03/2021
Disclosure of enterprise's reportable segments explanatory [TextBlock] [See below]
Disclosure of enterprise's reportable segments explanatory [Text Block]
40. Segment reporting
The Company is primarily engaged in the business of manufacturing and distribution of ketchup and other various variants of
sauces like mint sauce, tamarind sauce, bread spreads, mayonnaise etc. which are governed by same set of risks and
returns. As the Company’s business activity falls within a single primary business segment, the disclosure requirements of
Accounting Standard (AS—17) “Segment Reporting" issued by the institute of Chartered Accountants of India is not
applicable to the Company.
158
[201600] Notes - Related party
Disclosure of relationship and transactions between related parties [Table] ..(1)

Categories of related parties [Axis] 1 2
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Disclosure of relationship and transactions
between
related parties [Abstract]
Disclosure of relationship and
transactions between
related parties [LineItems]
Cremica Food Park Private Cremica Food Park Private MRS. BECTOR'S FOODS MRS. BECTOR'S FOODS
Name of related party Limited Limited PRIVATE LIMITED PRIVATE LIMITED
Country of incorporation or residence
of related INDIA INDIA INDIA INDIA
party
CIN of related party U15400DL2012PTC242628 U15400DL2012PTC242628 U15400DL2013PTC255163 U15400DL2013PTC255163
Description of nature of related party
Subsidiary company Subsidiary company Subsidiary company Subsidiary company
relationship
INVESTMENT MADE, INVESTMENT MADE,
BUSINESS SUPPORT BUSINESS SUPPORT
SERVICE, ADVANCE SERVICE, ADVANCE
Description of nature of transactions GIVEN, REPAYMENT OF GIVEN, REPAYMENT OF
INVESTMENT MADE, INVESTMENT MADE,
ADVANCE, SALE OF ADVANCE, SALE OF
with related GOOD, SALE OF FIXED GOOD, SALE OF FIXED
LOAN GIVEN, BALANCE LOAN GIVEN, BALANCE
party RECEIVABLE RECEIVABLE
ASSETS, PROCESSING ASSETS, PROCESSING
CHARGES, COLD ROOM CHARGES, COLD ROOM
RENTAL CHARGES, RENTAL CHARGES,
BALANCE RECEIVABLE BALANCE RECEIVABLE
Related party transactions [Abstract]
Revenue from sale of goods related
party 2,40,29,066 68,37,892
transactions
Sales of tangible assets related party
0 12,31,278
transactions
Revenue from rendering of services
related 0 3,33,00,000
party transactions
Advances given during year related
party 6,07,39,444 12,54,95,000
transactions
Reimbursement of expenses incurred
by
related party during year related party 9,53,711 0
transactions
Transfers under finance agreements
related
party transactions [Abstract]
Transfers of loan under finance
agreements to enterprise related
0 5,00,000
party
transactions
Equity contributions made under
finance
0 1,32,840 0 40,238
agreements related party
transactions
Other related party transactions
33,58,46,869 80,40,770
expense
6,13,80,436 20,82,840
income
contribution 40,238 0
made
159
Transaction relating to key

management personnel
[Abstract]
Remuneration for key managerial
0 0 0 0
personnel
Outstanding balances for related party
transactions [Abstract]
Amounts receivable related party
0 2,62,86,235 0 5,00,000
transactions
Amount written off during period in
respect 0 0 0 0
of debts due from related parties
Amount written back during period in
respect 0 0 0 0
of debts due to related parties

01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Disclosure of relationship and transactions between
Name of related party Akshay Bector Akshay Bector Geeta Bector Geeta Bector
Country of incorporation or residence of related
INDIA INDIA INDIA INDIA
party
Permanent account number of related party ABJPB4769K ABJPB4769K ABVPB3164E ABVPB3164E
Key Management Key Management Key Management Key Management
Description of nature of related party relationship Personnel Personnel Personnel Personnel
REIMBURSEMENT
REIMBURSEMENT
OF EXPENSE
OF EXPENSE
FROM, RENT
FROM, RENT PAID, RENT PAID, RENT PAID,
PAID,
REMUNERATION, REMUNERATION, REMUNERATION,
Description of nature of transactions with related REMUNERATION,
AMOUNT DIRECTOR DIRECTOR
party AMOUNT
PAYABLE, SITTING FEE, SITTING FEE,
PAYABLE,
SECURITY SALARY PAID SALARY PAID
SECURITY
DEPOSIT
DEPOSIT
RECEIVABLE
RECEIVABLE
Other related party transactions expense 52,58,649 39,60,000 39,60,000 40,10,000
Transaction relating to key management personnel
[Abstract]
Remuneration for key managerial personnel 75,00,000 1,17,74,314 30,00,000 27,09,677
Maximum amount receivable from related party
0 3,60,00,000
during period
Amount written off during period in respect
0 0 0 0
Amount written back during period in respect
0 0 0 0
160

01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Name of related party Sana Bector Sana Bector Akshay Bector HUF Akshay Bector HUF
party
Permanent account number of related party BMMPB9291H BMMPB9291H AABHA1049L AABHA1049L
Enterprises which
Enterprises which are
are owned, or have
owned, or have
significant influence
Relatives of Key Relatives of Key significant influence
of or are partners
Description of nature of related party relationship management management
with Key
of or are partners with
personnel personnel Key management
management
personnel and their
personnel and their
relatives
relatives
Description of nature of transactions with related N O
NO TRANSACTION RENT PAID RENT PAID
party TRANSACTION
Other related party transactions expense 11,25,000 18,00,000
[Abstract]
Remuneration for key managerial personnel 0 0 0 0
0 0 0 0
0 0 0 0

01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Name of related party Surendra Khemka Surendra Khemka Robin Vijan Robin Vijan
party
Permanent account number of related party ABQPK8304C ABQPK8304C AJKPV7361A AJKPV7361A
Key Management Key Management Key Management Key Management
Description of nature of related party relationship Personnel Personnel Personnel Personnel
Description of nature of transactions with related
REMUNERATION REMUNERATION REMUNERATION REMUNERATION
party
[Abstract]
Remuneration for key managerial personnel 99,34,192 56,10,464 10,68,154 14,75,926
0 0 0 0
0 0 0 0
161

01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Name of related party Nikhil Bhuchchar Nikhil Bhuchchar Akshilesh Bector Akshilesh Bector
party
Permanent account number of related party AXNPK3582V AXNPK3582V
ASBPB8038J ASBPB8038J
Relatives of Key Relatives of Key
Key Management Key Management
Description of nature of related party relationship Personnel Personnel
management management
personnel personnel
REMUNERATION REMUNERATION Salary Paid Salary Paid
party
Other related party transactions expense 0 3,98,016
[Abstract]
Remuneration for key managerial personnel 27,30,565 2,13,290 0 0
0 0 0 0
0 0 0 0

01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Ravindra Nath
Name of related party Gupta
Ravindra Nath Gupta Dharamir Bector Dharamir Bector

party
Permanent account number of related party ABNPG7993A ABNPG7993A
ABXPB2850P ABXPB2850P
Key Management Key Management
Description of nature of related party relationship Personnel Personnel
management management
personnel personnel
NA NA NA NA
party
[Abstract]
Remuneration for key managerial personnel 14,78,495.61 0 0 0
0 0 0 0
0 0 0 0
162

01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Parimeya Commerce Parimeya Commerce
Name of related party RAJNI BECTOR RAJNI BECTOR
Private Limited Private Limited
party
Permanent account number of related party ABKPB0071B ABKPB0071B
CIN of related party U65100DL2015PTC283326 U65100DL2015PTC283326
Description of nature of related party relationship management management Others Others
personnel personnel
SECURITY DEPOSIT SECURITY DEPOSIT
Salary Paid Salary Paid RECEIVABLE, RENT RECEIVABLE, RENT
party PAID PAID
Other related party transactions expense 0 17,68,529 0 30,00,000
[Abstract]
Remuneration for key managerial personnel 0 0 2,00,000 0
Maximum amount receivable from related party
0 2,00,00,000
during period
0 0 0 0
0 0 0 0

01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of notes on related party explanatory [TextBlock] [See below]
Whether there are any related party transactions during year Yes Yes
Whether company is subsidiary company No No
163
Disclosure of notes on related party explanatory [Text Block]
33. Related Party Disclosure
Related party disclosure is in accordance with the Accounting

Standards AS-18 on “Related Party Disclosure” notified by the
Companies (Accounting Standards) Rules, 2006:-
A. Name of related parties and related party relationship:
a) Related Party where control exists
Companies:
Cremica Food Park Private Limited Wholly owned subsidiary
Cremica Condiments Private Limited Wholly owned subsidiary
Wholly owned subsidiary

Mrs Bectors Foods Private Limited
(w.e.f January 16, 2020)
b) Key Management Personnel
Chairman and Managing

Akshay Bector
Director
Executive Director and

Surendra Khemka Chief Financial Officer
(Upto July 31, 2020)
Whole time Director (w.e.f

Nikhil Bhuchchar
March 3, 2020)
Whole time Director (w.e.f

Geeta Bector
September 1, 2019)
Chief Financial Officer
164
Ravindra Nath Gupta (From December 15, 2020

Upto August 30 2021)
Chief Financial Officer

Sudhir Barik
(i.e. December 21, 2021)
c) Relatives of Key Management Personnel
Mrs. Rajni Bector
Mr. Akhilesh Bector*
d) Enterprises in which Key Managerial Personnel have significant

influence and transactions during the year:
Parimeya Commerce Private Limited (Upto July 31, 2020)
Akshay Bector (HUF)
Khaitan and Khaitan LLP
e) Additional related parties as per Companies Act 2013 with whom

transactions have taken place during the year
Company Secretary
Robin Vijan
(upto June 30, 2021)
Company Secretary (w.e.f

Mohit Kukreja
August 12, 2021)
* shown due to previous year comparison
165
Notes to Financial
Statements for the year
ended on March 31, 2021
(All amounts in Rupees

unless otherwise stated)
The following table

provides the total amount
of transactions that have
been entered into with
related parties during the
year:
March 31, March 31,

2021 2020
Enterprises
Enterprises in
in which
which Key
Relatives Key Relatives
managerial Key Key
of Key managerial of Key
Particulars Subsidiaries personnel managerial Subsidiaries managerial
Managerial personnel Managerial
have Personnel Personnel
personnel have personnel
significant
significant
influence
influence
Investments made in
subsidiaries
Mrs. Bectors Food Private

0 0 0 0 40238 0 0 0
Limited
Reimburment of
expenses from
Akshay Bector 0 0 1298649 0 0 0 0 0
Business Support
Services
Cremica Food Park

33300000 0 0 0 33300000 0 0 0
Private Limited
Advance Given to
166
Cremica Food Park

60739444 0 0 0 125495000 0 0 0
Private Limited
Repayment/ Adjustment
of Advance received from
Cremica Food Park

61380436 0 0 0 8040770 0 0 0
Private Limited
Sale of goods ( including

scrap)
Cremica Food Park

24029066 0 0 0 6837891.84 0 0 0
Private Limited
Sale of Fixed Assets
Cremica Food Park

0 0 0 0 1231278 0 0 0
Private Limited
Processing Charges
Cremica Food Park

53490017 0 0 0 132840 0 0 0
Private Limited
Cold Room Rental

Charges
Cremica Food Park

4056852 0 0 0 1950000 0 0 0
Private Limited
Reimbursement of
Expenses
Cremica Food Park

953711 0 0 0 0 0 0 0
Private Limited
167
Rent paid to
Akshay Bector HUF 0 1125000 0 0 0 1800000 0 0
Akshay Bector 0 0 3960000 0 0 0 3960000 0
Geeta Bector 0 0 3960000 0 0 0 3960000 0
Parimeya Commerce
0 200000 0 0 0 3000000 0 0
Private Limited
Loan given to
M/s Mrs. Bector’s Foods

0 0 0 0 500000 0 0 0
Private Limited
Managerial Remuneration
Akshay Bector 0 0 7500000 0 0 0 11774314 0
Surendra Khemka 0 0 9934192 0 0 0 5610464 0
Robin Vijan 0 0 1068154 0 0 0 1475926 0
Geeta Bector 0 0 3000000 0 0 0 2709677 0
Ravindra Nath Gupta 0 0 1478495.61 0 0 0 0 0
Nikhil Bhuchchar 0 0 2730565 0 0 0 213290 0
Professional Charges
Khaitan and Khaitan 0 715000 0 0 0 900000 0 0
Director Sitting Fee
Geeta Bector 0 0 0 0 0 0 50000 0
Rishi Nath Khanna 0 0 0 0 0 0 75000 0
168
S.K. TUTEJA 175000 0 0
Rajesh Kumar Srivastava 0 0 225000 0 0 0 280000 0
Umesh Kumar Khaitan 0 0 225000 0 0 0 180000 0
Raman Singh Sidhu 0 0 250000 0 0 0 175000 0
Salary Paid
Rajni Bector 0 0 0 1125000 0 0 0 1768529
Geeta Bector 3000000 2709677
Akshilesh Bector 0 0 0 0 0 0 0 398016
Balance at the year end
Investments in equity
shares of
Cremica Food Park

225000000 0 0 0 225000000 0 0 0
Private Limited
Cremica Condiments
100000 0 0 0 100000 0 0 0
Private Limited
Mrs. Bectors Food Private

40238 0 0 0 40238 0 0 0
Limited
Investments in preference
shares of
Cremica Food Park

20000000 0 0 0 20000000 0 0 0
Private Limited
Balance payable to
Akshay Bector 0 0 0 0 0 0 175148.12 0
169
Umesh Kumar Khaitan 0 0 0 0 0 0 2000 0
Balance receivable from
Cremica Food Park

37015999 0 0 0 26286235 0 0 0
Private Limited
Rishi Nath Khanna 0 0 0 0 0 0 22500 0
M/s Mrs. Bector’s Foods

500000 0 0 0 500000 0 0 0
Private Limited
Akshay Bector 523303.45 0 0 0 0
Amount recoverable from:
Cremica Food Park

124013605 0 0 0 75258000 0 0 0
Private Limited
Advance receivable from
Cremica Food Park

317008238 0 0 0 317649230 0 0 0
Private Limited
Security Deposits
receivable
Akshay Bector 0 0 36000000 0 0 0 36000000 0
Parimeya Commerce
0 0 0 0 0 20000000 0 0
Private Limited
170
[201400] Notes - Leases

01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of leases explanatory [TextBlock] [See below]
Minimum lease payments recognised as expense, classified as
2,82,03,629 3,39,86,764
operating lease
Total lease payments recognised as expense 2,82,03,629 3,39,86,764
Whether any operating lease has been converted to financial lease or
No No
vice-versa
Disclosure of leases explanatory [Text Block]
29. The company has leased facilities under both cancellable and non cancellable operating leases arrangements with a lease
term ranging from one to fifteen years, which are subject to renewal at mutual consent thereafter, The cancellable arrangements
can be terminated by either party after giving due notice. The lease rent expenses recognized during the year amounts to Rs.
28,203,629/- (March 31, 2020 Rs. 33,986,764). The future minimum lease payments in respect of non cancellable operating
leases as at March 31, 2021 is as follows:
[300300] Notes - Earnings per share

01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of earnings per share explanatory [TextBlock] [See below]
Weighted average shares and adjusted weighted average shares [Abstract]
Basic weighted average shares [shares] 72,45,158 [shares] 59,21,972
Adjustments of numerator to calculate basic earnings per share [Abstract]
Numerator to calculate basic earnings per share 72,45,158 59,21,972
Profit (loss) for period -17,62,90,633 2,24,44,103.19
Adjustments of numerator to calculate diluted earnings per share [Abstract]
Numerator to calculate diluted earnings per share 72,45,158 59,71,972
Profit (loss) for period -17,62,90,633 2,24,44,103.19
171
Disclosure of earnings per share explanatory [Text Block]
27. (Loss)/Earning per share (EPS)
The following reflects the loss and share data

used in basic and diluted EPS computation:
For the year For the year

ended ended
March 31, March 31,
2021 2020
Basic (loss)/earning per share
(Loss)/ Profit after tax -176290633 22444103.19
Less : dividends on convertible preference shares

0 392915
& tax thereon
Net (loss)/ profit for calculation of basic EPS -176290633 22051188.19
Weighted average number of shares of equity

7245158 5921971.978
shares in calculating basic EPS
Earning per share - Basic -24.33219993 3.723622515
Diluted (Loss)/ earning per share
Net (loss)/ profit as above -176290633 22051188.19
Add : dividends on convertible preference shares

0 392915
& tax thereon
Net (Loss)/ profit for calculation of diluted EPS -176290633 22444103.19

7245158 5921971.978
shares in calculating basic EPS *
172
Effect of dilution:
Convertible 0 0
Stock Options granted under ESOP 0 2663

7245158 5924634.978
shares in calculating diluted EPS **
Earning per share - Diluted -24.33219993 3.723622515
**The impact of ESOP's which will be converted

into equity shares will have Anti Diliutive impact
on the earnings per share. Therefore effect of Anti
Diutive ESOP's are ignored in calculating diluted
earning per share.
173
[202800] Notes - Subsidiary information
Details of subsidiaries [Table] ..(1)

Subsidiaries [Axis] ONE THREE TWO
01/04/2020 01/04/2020 01/04/2020
to to to
31/03/2021 31/03/2021 31/03/2021
Details of subsidiaries [Abstract]
Details of subsidiaries [LineItems]
CREMICA
CREMICA FOOD PARK MRS. BECTOR'S FOODS
Name of subsidiary PRIVATE LIMITED PRIVATE LIMITED
CONDIMENTS PRIVATE
LIMITED
Country of incorporation or residence of subsidiary INDIA INDIA INDIA
CIN of subsidiary company U15400DL2012PTC242628 U15400DL2013PTC255163 U15119PB2016PTC045499
Section under which company became subsidiary Section 2(87)(ii) Section 2(87)(ii) Section 2(87)(ii)
Whether subsidiary has filed balance sheet Yes Yes Yes
SRN of filing of balance sheet by subsidiary T87518858 T87518858 T86351392
Whether financial year of subsidiary different from financial
No No No
year of holding company
Financial year of subsidiary [Abstract]
Start date of accounting period of subsidiary 01/04/2020 01/04/2020 01/04/2020
End date of accounting period of subsidiary 31/03/2021 31/03/2021 31/03/2021
Percentage of shareholding in subsidiary 100.00% 100.00% 100.00%
Key information about subsidiary [Abstract]
Reporting currency of subsidiary INR INR INR
Exchange rate as applicable for subsidiary N.A N.A N.A
Share capital of subsidiary 24,50,00,000 1,00,000 1,00,000
Reserves and surplus of subsidiary 14,86,84,000 -5,92,000 -97,000
Total assets of subsidiary 126,84,29,000 1,16,000 11,000
Total liabilities of subsidiary 87,47,45,000 6,09,000 8,000
Investment of subsidiary 0 0 0
Turnover of subsidiary 10,56,55,000
Profit before tax of subsidiary -10,22,78,000 -15,000 -16,000
Provision for tax of subsidiary 1,12,18,000 0 0
Profit after tax of subsidiary -11,34,97,000 -15,000 -16,000
Proposed dividend of subsidiary 0 0 0

01/04/2020
to
31/03/2021
Disclosure of subsidiary information explanatory [TextBlock] [See below]
Whether company has subsidiary companies Yes
Number of subsidiary companies 3
Whether company has subsidiary companies which are yet to commence
No
operations
Whether company has subsidiary companies liquidated or sold during year No
174
Disclosure of subsidiary information explanatory [Text Block]

Form No. AOC- 1
Statement containing salient features of the financial statement of Subsidiaries/associate companies/joint ventures
(Pursuant to first proviso to sub-section (3) of section 129 read with rule 5 of Companies (Accounts) Rules, 2014)
Part "A": Subsidiaries
(Amount in Lakhs)
1. Sr. No 1 2 3
Cremica Food Park M/s. Cremica Condiments M/s. Mrs. Bector’s Foods
2. Name of the Subsidiary Company :
Pvt. Ltd. Pvt. Ltd. Private Limited
3. Reporting Period : 31st March 2021 31st March 2021 31st March 2021
4. Reporting Currency : Indian Rupees Indian Rupees Indian Rupees
5. Exchange rate as on 31st March, 2021 : Not Applicable Not Applicable Not Applicable
6. Share Capital including Pref. Shares : 2450.00 1.00 1.00
7. Reserves and Surplus : 1486.84 (0.97) (5.92)
8. Total Assets : 12684.29 0.11 1.16
Total Liabilities (excluding Share Capital

9. : 8747.45 0.08 6.09
and reserves)
10. Investments : NIL NIL NIL
11. Turnover : 1056.55 NIL NIL
12. Other Income : 15.06 NIL NIL
13. Total Revenue : 1071.62 NIL NIL
14. Profit/ Loss before taxation : (1022.78) (0.16) (0.15)
Provision for Taxation including Deffered

15. : 112.18 NIL NIL
Tax
16. Profit/ Loss after taxation : (1134.97) (0.16) (0.15)
17. Proposed Dividend on equity Shares (%) : NIL NIL NIL
175
18. Proposed Dividend on equity Shares : NIL NIL NIL
19. % of Shareholding : 100.00 % 100.00 % 100.00%
Part "B": Associates and Joint Ventures

Statement pursuant to Section 129 (3) of the Companies Act, 2013 related to Associate Companies and Joint Ventures: NOT APPLICABLE
Akshay Bector Geeta Bector Sudhir Barik Mohit Kukreja

Managing Director Director CFO Company Secretary
DIN-00058877 DIN-00108515PAN: ABEPB1144M M.No A43077
Place: New Delhi Place:New DelhiPlace: New Delhi Place: New Delhi
Date: February 14, 2022 Date: February 14, 2022Date: February 14, 2022 Date: February 14, 2022
[201900] Notes - Income taxes

31/03/2021 31/03/2020
Disclosure of notes on income taxes explanatory [TextBlock]
Disclosure of breakup of deferred tax assets and deferred tax liabilities
[Abstract]
Components of deferred tax assets [Abstract]
Deferred tax asset, expenditure disallowances 0 87,42,990
Deferred tax asset, provision doubtful debts 0 8,40,283
Deferred tax asset, other 0 54,53,304
Total deferred tax assets 0 1,50,36,577
Components of deferred tax liabilities [Abstract]
Deferred tax liability, depreciation 0 -1,50,36,577
Total deferred tax liabilities 0 -1,50,36,577
[202400] Notes - Investments in associates

01/04/2020
to
31/03/2021
Disclosure of notes on investment in associates explanatory [TextBlock]
Whether company has invested in associates No
Whether company has associates which are yet to commence operations No
Whether company has associates liquidated or sold during year No
[202500] Notes - Financial reporting of interests in joint ventures

01/04/2020
to
31/03/2021
Disclosure of notes on interests in joint ventures explanatory [TextBlock]
Whether company has invested in joint ventures No
Whether company has joint ventures which are yet to commence operations No
Whether company has joint ventures liquidated or sold during year No
176
[202100] Notes - Other provisions, contingent liabilities and contingent assets
Disclosure of other provisions [Table] ..(1)

Miscellaneous other
Classes of other provisions [Axis] provisions
[Member]
01/04/2019
to
31/03/2020
Disclosure of other provisions [Abstract]
Disclosure of other provisions [LineItems]
Reconciliation of changes in other provisions [Abstract]
Changes in other provisions [Abstract]
Additional provisions, other provisions 1,35,00,000
Total changes in other provisions 1,35,00,000
Other provisions at end of period 1,35,00,000
Disclosure of contingent liabilities [Table] ..(1)

Guarantee given
Other guarantees
Classes of contingent liabilities [Axis] Other contingent liabilities [Member] for related parties
given [Member]
[Member]
01/04/2019 01/04/2019 01/04/2019
to 31/03/2021 to to
31/03/2020 31/03/2020 31/03/2020
Disclosure of contingent liabilities [Abstract]
Disclosure of contingent liabilities [LineItems]
Corporate guarantee
given by the
Company on behalf
Description of nature of contingent liabilities of Cremica Food Other
Park Private Limited
(wholly owned
subsidiary)
Estimate of financial effect of contingent
37,45,59,979 0 32,94,00,000
liabilities
Disclosure of contingent liabilities [Table] ..(2)

Contingent liability Other contingent
Classes of contingent liabilities [Axis] on disputed income liabilities, others
tax [Member] [Member]
01/04/2019 01/04/2019
to to
31/03/2020 31/03/2020
Disclosure of contingent liabilities [Abstract]
Disclosure of contingent liabilities [LineItems]
Interest liability on
grant returnable,
CST liabilities
Preference dividend
Description of nature of contingent liabilities against pending 'C'
proposed (including
forms
Dividend
Distribution Tax)
Estimate of financial effect of contingent liabilities 4,07,04,139 44,55,840
177
[202700] Notes - Cash flow statements

01/04/2020 01/04/2019
to to 31/03/2019
31/03/2021 31/03/2020
Disclosure of cash flow statement explanatory [TextBlock]
Cash and cash equivalents if different from balance sheet [Abstract]
Cash and cash equivalents cash flow statement 35,18,920 38,93,223 45,33,537
Total cash and cash equivalents 35,18,920 38,93,223
Income taxes paid (refund) [Abstract]
Income taxes paid (refund), classified as operating activities 4,69,437 60,74,370
Total income taxes paid (refund) 4,69,437 60,74,370
178
[100200] Statement of profit and loss

01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Statement of profit and loss [Abstract]
Disclosure of revenue from operations [Abstract]
Disclosure of revenue from operations for other than finance company
[Abstract]
Revenue from sale of products 187,06,78,831 288,12,21,549
Revenue from sale of services 0 0
Total revenue from operations other than finance company 187,06,78,831 288,12,21,549
Total revenue from operations 187,06,78,831 288,12,21,549
Other income 7,75,62,587 8,91,99,434
Total revenue 194,82,41,418 297,04,20,983
Expenses [Abstract]
Cost of materials consumed (A) 106,43,70,386
164,46,90,849
Purchases of stock-in-trade (B) 1,19,87,165

6,47,75,830
Changes in inventories of finished goods, work-in-progress and

-3,40,23,486
stock-in-trade (C) 1,45,64,015.06
Employee benefit expense (D) 30,67,19,270

43,79,62,847
Finance costs 6,21,64,573.64 4,76,68,737.72

Depreciation, depletion and amortisation expense [Abstract]
Depreciation expense 3,80,67,046 4,69,58,067
Amortisation expense 9,51,606 19,72,656
Total depreciation, depletion and amortisation expense 3,90,18,652 4,89,30,723
CSR expenditure (E) 7,80,108.89

0
Other expenses (F) 62,94,85,113.11

74,21,24,749
Total expenses 212,90,89,283.7 295,21,30,249.72

Total profit before prior period items, exceptional items, extraordinary
-18,08,47,865.7 1,82,90,733.28
items and tax
Exceptional items before tax 45,57,232.7 41,53,369.91
Total profit before extraordinary items and tax -17,62,90,633 2,24,44,103.19
Total profit before tax -17,62,90,633 2,24,44,103.19
Tax expense [Abstract]
Current tax 0 0
Total tax expense 0 0
Total profit (loss) for period from continuing operations -17,62,90,633 2,24,44,103.19
Profit (loss) from discontinuing operations before tax 0 0
Tax expense of discontinuing operations 0 0
Total profit (loss) for period before minority interest -17,62,90,633 2,24,44,103.19
Profit (loss) of minority interest 0 0
Total profit (loss) for period -17,62,90,633 2,24,44,103.19
Earnings per equity share [Abstract]
Basic earning per equity share [INR/shares] -24.33 [INR/shares] 3.72
Diluted earnings per equity share [INR/shares] -24.33 [INR/shares] 3.72
Nominal value of per equity share [INR/shares] 10 [INR/shares] 10
179
Footnotes
(A)
21. Cost of raw and packing material consumed

ended ended
March 31, March 31,
2021 2020
Inventory at the beginning of the year 220038237 176155030
Add: Purchases during the year 1070879564 1688574056
1290917801 1864729086
Less: Inventory at the end of year -226547415 -220038237
Net cost of raw material and packing material consumed 1064370386 1644690849
Details of raw material and packing material consumed:

ended ended
March 31, March 31,
2021 2020
Raw material:
Soyabean Oil 317635248 407179594
Sugar 84035981 134641172
Liquid glucose 49660574 91608176
Whey Protein 57758588 93866256
Tomato Paste 109309418 238285276
Others 206997789 319665321
180
Packing material 238972324 359445054
Total 1064369922 1644690849
Details of inventory of raw material and packing material at the

year end:

ended ended
March 31, March 31,
2021 2020
Raw material:
Soyabean Oil 8222977 2619266
Sugar 1644820 989733
Liquid glucose 722747 871154
Whey Protein 3486319 4696787
Tomato Paste 31597816 51101065
Others 87518053 70010842
Packing material 93354683 89749389
Total 226547415 220038236
(B)
181
Details of traded goods purchased during the year
For the year ended For the year ended

March 31, 2021 March 31, 2020
Fruit Cocktail 0 16631992.46
Pasta 2604317.325 6791299.99
Fruit Slice 0 10759045
Peanut Butter 9382848 12783781
Others 0 3522446.195
Wrap 0 14287265.16
Total 11987165.33 64775829.81
(C)
22. (Increase) / decrease in Inventories

ended ended
March 31, 2021 March 31, 2020
Inventories at the end of the year
Traded Goods 6803692.238 30236962.06
Work-in-progress 10526830 7359055
Finished goods 129744941 124043461
(A) 147075463 161639478
Inventories at the Beginning of the year
Traded Goods 30236962.06 17952729
182
Finished goods 124043461 102141014
(B) 161639478.1 127615992
Decrease/ (Increase) in inventories (B-A) 14564015.06 -34023486

ended ended
March 31, 2021 March 31, 2020
Pasta 2604317.325 6791299.99
Others 0 3522446.195
Wrap 0 14287265.16
Total 11987165.33 64775829.81
Details of inventory of traded goods at the year end

ended ended
March 31, 2021 March 31, 2020
Fruit Cocktail 347210.7477 9874477.505
Pasta 1366148.411 5011638.506
Fruit Slice 1068460.532 3487419.499
Peanut Butter 2417704.838 4657290.46
Others 43908.27836 1288941.098
183
Wrap 1560259.432 5917194.989
Total 6803692.238 30236962.06
Details of inventory of Work-in-progress at the year

end

ended ended
March 31, 2021 March 31, 2020
Sauces 8558845 5633302.462
Others condiments 1967985 1725752.568
Total 10526830 7359055.03
Details of inventory of finished goods at the year end

ended ended
March 31, 2021 March 31, 2020
Sauces 106358578 101798980
Others condiments 17314897 18117629
Snacks 6071466 4126852
Total 129744941 124043461
(D)
23. Employee Benefit Expense

March 31, 2021 March 31, 2020
184
Salaries, wages and bonus 285942877 400177884
Contribution to provident fund and other funds 12344291 17482897
Employee stock option scheme (refer note 38) 400499 519143
Gratuity (refer note 31) 2445782 8570052
Staff welfare expenses 5585821 11212871
306719270 437962847
(E)

24(i) Details of CSR expenditure ended ended
March 31, 2021 March 31, 2020
Gross amount required to be spent by the company during the

780108.8867 0
year
Amount spent during the year:
i) Construction/ acquisition of any asset 00
ii) On purpose other than (i) above 0 0
iii) related to previous year 0 0
Amount unspent at year end 780108.8867 0
(F)
24. Other Expenses

ended ended
March 31, March 31,
2021 2020
Consumption of stores and spare parts 12023837 14972810
Power and fuel 25300016 31940551
185
Job-work charges 57040222 4766799.14
Rent 28203629 33986764
Freight and forwarding charges 103455684 132823546
Repairs and maintenance
Plant and Machinery 14142855 18471572
Buildings 1206504 3273908
Others 5989162 5896928
Insurance 6393192 6675428
Rates and taxes 3464258 5702981
Travelling and conveyance 37351861 82924908
Communication costs 4301656 4776583
Printing and stationery 527930 825608
Legal and professional fees 11933095 14210459
Payment to Auditor
Statutory Audit Fee 3000000 2350000
Other Services 0 1000000
Out of Pocket Expenses 75625 284200
Loss on foreign exchange fluctuations (net) 572139 0
Advertising and sales promotion expenses 24521602 60923427
Carriage and forwarding charges 15338254 19243280
Provision for doubtful debts and advances

(bad debts written off out of opening provision Rs. 28537760 4311273
186
Nil (March 31, 2020: 2,666,140 ))
Provision for Contingencies (Refer Note 6) 15000000 13500000
Provision for obsolence of inventory 9746090 7166366
CSR expenditure (refer note B below) 780108.8867 0
Loss on sale/write off of property, plant and

337344 0
equipment
Discount, damage and expiry claims 195636499 239345292
Miscellaneous expenses 25385899.11 32752066
630265222 742124749.1
187
[300500] Notes - Subclassification and notes on income and expenses

01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Subclassification and notes on income and expense explanatory [TextBlock]
Disclosure of revenue from sale of products [Abstract]
Disclosure of revenue from sale of products explanatory [TextBlock] [See below]
Revenue from sale of products [Abstract]
Revenue from sale of products, gross 187,06,78,831 288,12,21,549
Total revenue from sale of products 187,06,78,831 288,12,21,549
Disclosure of revenue from sale of services [Abstract]
Revenue from sale of services [Abstract]
Total revenue from sale of services 0 0
Disclosure of other income [Abstract]
Disclosure of notes on other income explanatory [TextBlock] [See below]
Interest income [Abstract]
Total interest income 0 0
Dividend income [Abstract]
Total dividend income 0 0
Other non-operating income [Abstract]
Net gain/loss on foreign currency fluctuations treated as other
0 5,30,632
income
Surplus on disposal, discard, demolishment and destruction of
16,53,389 4,41,79,938
depreciable tangible asset
Income export incentives 0 8,00,048
Liabilities written off 0 -2,04,333
Miscellaneous other non-operating income 7,59,09,198 4,34,84,483
Total other non-operating income 7,75,62,587 8,91,99,434
Total other income 7,75,62,587 8,91,99,434
Disclosure of finance cost [Abstract]
Disclosure of notes on finance cost explanatory [TextBlock] [See below]
Interest expense [Abstract]
Interest expense long-term loans [Abstract]
Interest expense long-term loans, banks 2,10,46,210 1,00,39,361
Total interest expense long-term loans 2,10,46,210 1,00,39,361
Interest expense short-term loans [Abstract]
Interest expense short-term loans, banks 2,62,30,282.64 2,97,61,923.6
Total interest expense short-term loans 2,62,30,282.64 2,97,61,923.6
Other interest charges 1,48,88,081 78,67,453.12
Total interest expense 6,21,64,573.64 4,76,68,737.72
Total finance costs 6,21,64,573.64 4,76,68,737.72
Employee benefit expense [Abstract]
Salaries and wages 28,59,42,877 40,01,77,884
Managerial remuneration [Abstract]
Remuneration to directors [Abstract]
Total remuneration to directors 0 0
Total managerial remuneration 0 0
Contribution to provident and other funds [Abstract]
Contribution to provident and other funds for others 1,23,44,291 1,74,82,897
Total contribution to provident and other funds 1,23,44,291 1,74,82,897
Expense on employee stock option scheme and employee stock purchase plan 4,00,499 5,19,143
Gratuity 24,45,782 85,70,052
Staff welfare expense 55,85,821 1,12,12,871
Total employee benefit expense (A) 30,67,19,270

43,79,62,847
Breakup of other expenses [Abstract]

Consumption of stores and spare parts 1,20,23,837 1,49,72,810
Power and fuel 2,53,00,016 3,19,40,551
188
Rent 2,82,03,629 3,39,86,764

Repairs to building 12,06,504 32,73,908
Repairs to machinery 1,41,42,855 1,84,71,572
Insurance 63,93,192 66,75,428
Rates and taxes excluding taxes on income [Abstract]
Other cess taxes 34,64,258 57,02,981
Total rates and taxes excluding taxes on income 34,64,258 57,02,981
Printing stationery 5,27,930 8,25,608
Travelling conveyance 3,73,51,861 8,29,24,908
Legal professional charges 1,19,33,095 1,42,10,459
Directors sitting fees 0 0
Advertising promotional expenses 2,45,21,602 6,09,23,427
Discounting charges 19,56,36,499 23,93,45,292
Cost repairs maintenance other assets 59,89,162 58,96,928
Cost transportation [Abstract]
Cost freight 10,34,55,684 13,28,23,546
Cost loading and unloading 1,53,38,254 1,92,43,280
Total cost transportation 11,87,93,938 15,20,66,826
Provision bad doubtful debts created 2,85,37,760 43,11,273
Provision bad doubtful loans advances created 0 0
Net provisions charged [Abstract]
Other provisions created 0 2,06,66,366
Total net provisions charged 0 2,06,66,366
Write-off assets [Abstract]
Miscellaneous expenditure written off [Abstract]
Total miscellaneous expenditure written off 0 0
Bad debts written off 0 0
Bad debts advances written off 0 0
Loss on disposal of intangible asset 0 0
Loss on disposal, discard, demolishment and destruction of depreciable
0 0
tangible asset
Payments to auditor [Abstract]
Payment for audit services 30,00,000 23,50,000
Payment for other services 75,625 10,00,000
Payment for reimbursement of expenses 0 2,84,200
Total payments to auditor 30,75,625 36,34,200
Miscellaneous expenses 11,23,83,350.11 4,22,95,448
Total other expenses (B) 62,94,85,113.11

74,21,24,749
Current tax [Abstract]

Current tax pertaining to previous years 0 22,51,659.35
Current tax pertaining to current year -2,58,248.79 81,73,167.79
MAT credit recognised during year -2,58,248.79 1,04,24,827.14
Total current tax 0 0
189
Footnotes
(A)
23. Employee Benefit Expense

March 31, 2021 March 31, 2020
Salaries, wages and bonus 285942877 400177884
Contribution to provident fund and other funds 12344291 17482897
Employee stock option scheme (refer note 38) 400499 519143
Gratuity (refer note 31) 2445782 8570052
Staff welfare expenses 5585821 11212871
306719270 437962847
(B)
24. Other Expenses

ended ended
March 31, March 31,
2021 2020
Consumption of stores and spare parts 12023837 14972810
Power and fuel 25300016 31940551
Job-work charges 57040222 4766799.14
Rent 28203629 33986764
Freight and forwarding charges 103455684 132823546
Repairs and maintenance
Plant and Machinery 14142855 18471572
Buildings 1206504 3273908
190
Others 5989162 5896928
Insurance 6393192 6675428
Rates and taxes 3464258 5702981
Travelling and conveyance 37351861 82924908
Communication costs 4301656 4776583
Printing and stationery 527930 825608
Legal and professional fees 11933095 14210459
Payment to Auditor
Statutory Audit Fee 3000000 2350000
Other Services 0 1000000
Out of Pocket Expenses 75625 284200
Loss on foreign exchange fluctuations (net) 572139 0
Advertising and sales promotion expenses 24521602 60923427
Carriage and forwarding charges 15338254 19243280
Provision for doubtful debts and advances

(bad debts written off out of opening provision Rs. 28537760 4311273
Nil (March 31, 2020: 2,666,140 ))
Provision for Contingencies (Refer Note 6) 15000000 13500000
Provision for obsolence of inventory 9746090 7166366
CSR expenditure (refer note B below) 780108.8867 0
Loss on sale/write off of property, plant and

337344 0
equipment
Discount, damage and expiry claims 195636499 239345292
Miscellaneous expenses 25385899.11 32752066
191
630265222 742124749.1
192
Disclosure of revenue from sale of products explanatory [Text Block]
19. Revenue from operations

March 31, 2021 March 31, 2020
Sale of Products
Finished goods 1825313435 2811519953
Traded Goods 45365396 69701596
Revenue from Operations 1870678831 2881221549
Details of Finished goods sold:

March 31, 2021 March 31, 2020
Sauces 1628316534 2472120340
Snacks 19105223 35650267
Total 1825313435 2811519953
Traded goods sold

March 31, 2021 March 31, 2020
Fruit Cocktail 13239668 12238203
Pasta 7459942 12300394
Fruit Slice 4958584 12983798
193
Peanut Butter 15285038 14682089
Others 715781 7008405
Wrap 3706383 10488707
45365396 69701596
194
Disclosure of notes on other income explanatory [Text Block]
20.1 Other Income
For the
For the year
year
ended
ended
March 31,
March 31,
2020
2021
Scrap sales 1653389 8198311
Export Incentives 0 800048
Profit on Sale of Land* 0 43595206.19
Profit on Sale of other property plant and equipment 0 584732
Provision/ liabilities no longer required written back 0 204332.81
Business support services** 33300000 33300000
Other claim*** 36146500 0
Gain on foreign exchange fluctuation (net) 0 530632
Other income 6462698 1986172
77562587 89199434
*During the previous year the company has sold land situated at Village Chal, Taluka
Panvel, District-Raigad Maharashtra at a price of Rs. 95,000,000. The book value of the
land on the date of sale was Rs 51,404,794
** The Company has been providing business support to its subsidiary "Cremica Food
Park Private Limited".
*** Represents cliam raised to a vendor. (Refer Note no 45)
20.2 Interest Income
195
For the
For the year
year
ended
ended
March 31,
March 31,
2020
2021
Interest
- on fixed deposits with Banks 3299468 4153370
- on Income tax refund 1234701 0
- Others 23064 0
4557233 4153370
196
Disclosure of notes on finance cost explanatory [Text Block]
25. Depreciation and amortization expense
March 31, 2021 March 31, 2020
Depreciation on property, plant and equipment 38067046 46958067
Amortization of intangible assets 951606 1972656
Total 39018652 48930723
26. Finance Cost
March 31, 2021 March 31, 2020
Interest on
Term loan 21046210 10039361
Working capital loans and cash credit facilities from banks 26230282.64 29761923.6
Vehicle loans 4364644 1801406
Others 10523437 6066047.12
62164573.64 47668737.72
197
[300600] Notes - Additional information statement of profit and loss

01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Additional information on profit and loss account explanatory [TextBlock]
Changes in inventories of finished goods (A) 1,45,64,015.06
-2,19,02,447
Changes in inventories of work-in-progress 0 1,63,194

Changes in inventories of stock-in-trade 0 -1,22,84,233
Total changes in inventories of finished goods, work-in-progress and
-3,40,23,486
stock-in-trade (B) 1,45,64,015.06
Exceptional items before tax 45,57,232.7 41,53,369.91
Total exceptional items 45,57,232.7 41,53,369.91
Total exceptional and extraordinary items 45,57,232.7 41,53,369.91
Expenditure on dividend paid 0 0
Total expenditure in foreign currency 0 0
Total amount of dividend remitted in foreign currency 0 0
Total earnings in foreign currency 0 0
Domestic sale traded goods 187,06,78,831 288,12,21,549
Total domestic turnover goods, gross 187,06,78,831 288,12,21,549
Total revenue from sale of products 187,06,78,831 288,12,21,549
Total revenue from sale of services 0 0
Gross value of transaction with related parties as per AS-18 0 0
Bad debts of related parties as per AS-18 0 0
198
Footnotes
(A)
For the year ended

March 31, 2021
Traded Goods 6803692.238
Work-in-progress 10526830
Finished goods 129744941
(A) 147075463
Traded Goods 30236962.06
Work-in-progress 7359055
Finished goods 124043461
(B) 161639478.1
Decrease/ (Increase) in inventories (B-A) 14564015.06
(B)

ended ended
March 31, 2021 March 31, 2020
Traded Goods 6803692.238 30236962.06
199
Finished goods 129744941 124043461
(A) 147075463 161639478
Traded Goods 30236962.06 17952729
Finished goods 124043461 102141014
(B) 161639478.1 127615992
Decrease/ (Increase) in inventories (B-A) 14564015.06 -34023486

ended ended
March 31, 2021 March 31, 2020
Pasta 2604317.325 6791299.99
Others 0 3522446.195
Wrap 0 14287265.16
Total 11987165.33 64775829.81
Details of inventory of traded goods at the year end

ended ended
200
March 31, 2021 March 31, 2020
Fruit Cocktail 347210.7477 9874477.505
Pasta 1366148.411 5011638.506
Fruit Slice 1068460.532 3487419.499
Peanut Butter 2417704.838 4657290.46
Others 43908.27836 1288941.098
Wrap 1560259.432 5917194.989
Total 6803692.238 30236962.06
Details of inventory of Work-in-progress at the year

end

ended ended
March 31, 2021 March 31, 2020
Sauces 8558845 5633302.462
Others condiments 1967985 1725752.568
Total 10526830 7359055.03
Details of inventory of finished goods at the year end

ended ended
March 31, 2021 March 31, 2020
Sauces 106358578 101798980
Snacks 6071466 4126852
201
Total 129744941 124043461
[300100] Notes - Revenue

01/04/2020
to
31/03/2021
Disclosure of revenue explanatory [TextBlock] [See below]
202
Disclosure of revenue explanatory [Text Block]
Revenue recognition and other income
Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue
can be reliably measured. The following specific recognition criteria must also be met before revenue is recognized:
Sale of goods
Revenue from sale of Goods is recognized when the significant risks and rewards of ownership of the goods have passed to
the buyer usually on delivery of Goods to the customer. The Company collects goods and service tax (GST), on behalf of the
government and, therefore, these are not economic benefits flowing to the Company. Hence, they are excluded from
revenue. Excise duty deducted from revenue (gross) in previous year is the amount that is included in the revenue (gross)
and not the entire amount of liability arising during the year.
Business Support Services
Income from business support services are recognized on delivery of services in terms of the agreement
Interest
Interest income is recognized on a time proportion basis taking into account the amount outstanding and the applicable
interest rate. Interest income is included under the head “other income” in the statement of profit and loss.
Dividends
Dividend income is recognized when the company’s right to receive dividend is established by the reporting date.
203
Export incentives
Export incentives are recognized in the statement of profit and loss when the right to receive credit as per the terms of the
scheme is established in respect of export made.
[300700] Notes - Key managerial personnels and directors remuneration and other information
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors [Table] ..(1)
Key managerial personnels and directors [Axis] 1 2 3 4
01/04/2020 01/04/2020 01/04/2020 01/04/2020
to to to to
31/03/2021 31/03/2021 31/03/2021 31/03/2021
Disclosure of key managerial personnels and directors and
remuneration to key managerial personnels and directors
[Abstract]
Disclosure of key managerial personnels and directors
and remuneration to key managerial personnels and
directors [LineItems]
RAVINDRA NATH
Name of key managerial personnel or director AKSHAY BECTOR GEETA BACTOR
GUPTA
ROBIN VIJAN
Director identification number of key managerial

00058877 00108515
personnel or director
Permanent account number of key managerial
ABJPB4769K ABVPB3164E ABNPG7993A AJKPV7361A
Date of birth of key managerial personnel or
29/03/1961 22/12/1962 25/06/1970 27/06/1982
director
Designation of key managerial personnel or director Managing Director Whole Time Director CFO Company Secretary
Qualification of key managerial personnel or
Graduate Graduate Graduate Company Secretary
director
Shares held by key managerial personnel or director [shares] 40,06,830 [shares] 1,64,236 [shares] 0 [shares] 0
Key managerial personnel or director remuneration
[Abstract]
Gross salary to key managerial personnel or
director [Abstract]
Salary key managerial personnel or director 75,00,000 30,00,000 14,78,495.61 10,68,154
75,00,000 30,00,000 14,78,495.61 10,68,154
director
Total key managerial personnel or director
75,00,000 30,00,000 14,78,495.61 10,68,154
remuneration
204
Key managerial personnels and directors [Axis] 5 6 7 8
01/04/2020 01/04/2020 01/04/2020 01/04/2020
to to to to
31/03/2021 31/03/2021 31/03/2021 31/03/2021
Disclosure of key managerial personnels and directors and
remuneration to key managerial personnels and directors
[Abstract]
Disclosure of key managerial personnels and directors
and remuneration to key managerial personnels and
RAMAN SINGH RAJESH KUMAR SURENDER UMESH KUMAR
Name of key managerial personnel or director SIDHU SRIVASTAVA TUTEJA KUMAR KHAITAN
Director identification number of key managerial
00121906 00302223 00594076 01180359
Permanent account number of key managerial
AAMPS1070J ANOPS8245A AAGPT7092R AFEPK7308G
Date of birth of key managerial personnel or
06/07/1957 20/03/1957 15/06/1945 20/12/1948
director
Designation of key managerial personnel or director Director Director Director Director
Qualification of key managerial personnel or
Graduate LLB Graduate Graduate
director
Shares held by key managerial personnel or director [shares] 0 [shares] 0 [shares] 0 [shares] 0
Key managerial personnel or director remuneration
[Abstract]
director [Abstract]
0 0 0 0
director
Sitting fees key managerial personnel or
2,50,000 2,25,000 1,75,000 2,25,000
director
Total key managerial personnel or director
2,50,000 2,25,000 1,75,000 2,25,000
remuneration
Key managerial personnels and directors [Axis] 9
01/04/2020
to
31/03/2021
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and
directors [Abstract]
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and
NIKHIL
Name of key managerial personnel or director BHUCHCHAR
Director identification number of key managerial personnel or director 08715290
Permanent account number of key managerial personnel or director ABXPB0129R
Date of birth of key managerial personnel or director 15/07/1970
Whole Time
Designation of key managerial personnel or director Director
Qualification of key managerial personnel or director Graduate
Shares held by key managerial personnel or director [shares] 0
Key managerial personnel or director remuneration [Abstract]
Gross salary to key managerial personnel or director [Abstract]
Salary key managerial personnel or director 27,30,565
Gross salary to key managerial personnel or director 27,30,565
Total key managerial personnel or director remuneration 27,30,565

01/04/2020
to
31/03/2021
Disclosure of key managerial personnels and directors and remuneration Textual information (77)
to key managerial personnels and directors explanatory [TextBlock] [See below]
205
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors
explanatory [Text Block]
on 31 st October,2020 from the position of Chief Financial Officer and Executive Director. In place of Mr. Khemka, Mr. Ravindra Nath Gupta
[301000] Notes - Corporate social responsibility
Classification of CSR spending [Table] ..(1)

Classification of CSR spending [Axis] ONE
01/04/2020
to
31/03/2021
Disclosure of CSR spending [Abstract]
Details of CSR spent during financial year [Abstract]
Manner in which amount CSR spent during financial year [Abstract]
Manner in which amount CSR spent during financial year [LineItems]
PMNRF or any other
fund set up by
Government and
contribute to
Technology
CSR project or activity identified incubators located
within academic
institutions approved
by central
government etc.
Prime Minister's
Sector in which project is covered National Relief Fund
Whether projects or programs undertaken in local area or other NO
Name of state or union territory where projects or programs was undertaken All India
Name of district where projects or programs was undertaken N.A
Budget amount outlay project or program wise 7,80,108.89
Amount spent on projects or programs [Abstract]
Direct expenditure on projects or programs 7,80,108.89
Total amount spent on projects or programs 7,80,108.89
Mode of amount spent Directly by company
Disclosure of net profits for last three financial years [Table] ..(1)
Financial year 1 Financial year 2 Financial year 3
Net profits for last three financial years [Axis]
[Member] [Member] [Member]
01/04/2020 01/04/2020 01/04/2020
to to to
31/03/2021 31/03/2021 31/03/2021
Disclosure of net profits for last three financial years [Abstract]
Disclosure of net profits for last three financial years [LineItems]
Description of financial year 2019-2020 2018-2019 2017-2018
Profit before tax of financial year 2,24,44,103.19 9,50,89,869 -5,17,639.2
Net profit computed u/s 198 and adjusted as per rule 2(1)(f)
2,24,44,103.19 9,50,89,869 -5,17,639.2
of Companies (CSR Policy) Rules, 2014
206

01/04/2020
to
31/03/2021
Disclosure of corporate social responsibility explanatory [TextBlock] [See below]
Whether provisions of corporate social responsibility are applicable on
Yes
company
Disclosure of composition of CSR committee [TextBlock] [See below]
Whether company has written CSR policy No
Average net profit for last three financial years 3,90,05,444.33
Prescribed CSR expenditure 7,80,108.89
Amount CSR to be spent for financial year 7,80,108.89
Amount CSR spent for financial year 7,80,108.89
Amount unspent CSR 0
207
Disclosure of corporate social responsibility explanatory [Text Block]

Annexure D
ANNUAL REPORT ON CSR ACTIVITIES
Sr.
Particulars Remarks
No.
A Brief outline of the Company’s CSR policy, CFIL’s Policy directs towards enhancing environmental and natural Capital,
including overview of projects or programs conducting programmes in areas which fall within economic activity, PMNRF
1 proposed to be undertaken and a reference to or any other fund set up by Government and contribute to Technology
the web- link to the CSR policy and project or incubators located within academic institutions approved by central
programs. government etc.
Mrs. Geeta Bector

2 The Composition of the CSR Committee. Mr. Raman Singh Sidhu
Mrs. Geeta Bector is the Chairman of the Committee.
Average net profit of the Company for last

3 3,90,05,444.33
three financial years.
Prescribed CSR Expenditure (two per cent. of

4 7,80,110
the amount as in item 3 above).
Details of CSR spent during the financial year:

Total amount to be spent for the financial year
5 Amount unspent, if any; Rs 7,80,110( Seven Lakh Eighty thousand one hundred ten rupees)
Manner in which the amount spent during the No surplus
financial year is detailed below The whole CSR amount mentioned above is spend through a contribution
made to Prime Minister National Relief Fund
(1) (2) (3) (4) (5) (6) (7) (8)
Projects or programs Amount spent on

the projects or
(1) Local area or programs
CSR Sector other Amount outlay Sub-heads: Cumulative Amount spent:
SI.
project or in which the (2) (budget) project expenditure upto Direct or through
activity Project is Specify the State or programs (1) Direct to the reporting implementing
No
Identified. covered and district where wise expenditure on period agency *
projects or programs projects
was or programs (2)
undertaken Overheads:
Prime
Minister
1 PMRF India Rs 7,80,110 Rs 7,80,110 Rs 7,80,110 Direct
National
Relief Fund
208
TOTAL 7,80,110
*Give details of implementing agency:

In case the company has failed to spend the two per cent of the average net profit of the last three financial years or any part thereof, the reasons
for not spending the amount in its Board report.
A responsibility statement of the CSR Committee that the implementation and monitoring of CSR Policy, is in compliance with CSR objectives
and Policy of the company.
Implementation of CSR activities is in compliance with Companies Act, 2013 & OPE guidelines and to meet the CSR objectives and policy of the
Company.
(Chairman and Managing Director) (Chairman CSR Committee)

Place: New DelhiA

kshay Bector
ManagingDirector (DIN: 00058877)
Geeta Bector
Disclosure of composition of CSR committee [Text Block]

CSR COMMITTEE
The CSR Committee consists of following Directors
Mrs. Geeta Bector

209

XBRL Financial Statements - 2020-21

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CREMICA FOOD INDUSTRIES LIMITED

Standalone Financial Statements for period 01/04/2020 to 31/03/2021

[400100] Disclosure of general information about company

Disclosure of principal product or services [Table] ..(1)

[400400] Disclosures - Directors report

Details of directors signing board report [Table] ..(1)

Unless otherwise specified, all monetary values are in INR

Textual information (1)

Disclosure in board of directors report explanatory [Text Block]

Revenue (net) 18706.78 28812.21

Other Income 775.62 891.99

TOTAL 19482.41 29704.21

Less: Financial Costs 621.64 476.69

Less Interest Income (45.57) (41.53)

Less: Provision for Depreciation 390.18 489.30

Profit/Loss before prior period income/ expenses (1762.92) 224.44

Prior period expenses 0.00 0.00

Profit/Loss before Tax (1762.92) 224.44

Profit/Loss for the year (1762.92) 224.44

Particulars 2020-21 2019-20

FINANCIAL HIGHLIGHTS AND OPERATIONS:

India Agri Business Fund II Limited 17,94,740 3,24,622

Real Trust-II 18,129 3,279/-

MATERIAL CHANGES AND COMMITMENTS, IF ANY:

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

EXTRACT OF ANNUAL RETURN:

As on 31st March, 2021, the Company is having following Subsidiaries.

Sr. No. Name of the Company CIN No

M/s. Cremica Condiments Pvt. Ltd. U15119PB2016PTC045499

M/s. Cremica Food Park Private Ltd. U15400DL2012PTC242628

M/s. Mrs. Bector’s Foods Private Limited U15400DL2013PTC255163

CORPORATE SOCIAL RESPONSIBILITY(CSR) INITIATIVES:

The following qualification is made by the Auditors:

Auditors emphasized on the following matters:

SECRETARIAL AUDITOR’S REPORT:

The following observations are made by the Auditors:

POLICY ON DIRECTORS’ APPOINTMENT AND REMUNERATION:

PERSONNEL AND INDUSTRIAL RELATIONS:

The Management-Employees relations remained cordial throughout the year.

Name : Mr. Akshay Bector

Designation of the Employee : Managing Director

Remuneration received during 2020-21 : 75,00,000/-

Nature of Employment : Full Time

Qualification and Experience : Graduate, 35Years

Date of Commencement of Employment : 24.06.2013

Last Employment : Managing Director of Mrs. Bector’s Food Specialties Ltd.

Percentage of Equity Shares held 55.30 (as on 31.03.2021)

RELATED PARTY TRANSACTIONS:

a) options granted; 8875 6625

(b) options vested; 892 1991

(c) options exercised; 892 1991

(e) options lapsed NA 9000

Rs. 90 per Rs 96 per

(g) variation of terms of options; NA NA

(h) money realized by exercise of options; 80280 1,91,136

(i) total number of options in force; 35500 26500

(j) employee wise details of options granted to;-

COMPOSITION OF BOARD COMMITTEES AS ON THE DATE OF THIS REPORT

The Audit Committee consists of following Directors:

Mr. Umesh Khaitan.

Mr. Raman Singh Sidhu is the Chairman of the said Committee.

NOMINATION AND REMUNERATION COMMITTEE