Lifestyle International (India) Financials 2011

LIFE STYLE INTERNATIONAL PRIVATE LIMITED
Standalone Balance Sheet for period 01/04/2010 to 31/03/2011
[610000] General information about financial statements

Unless otherwise specified, all monetary values are in INR
01/04/2010 to 31/03/2011
Disclosure of general information about company [abstract] Disclosure of company information [abstract] Name of company Corporate identity number Permanent account number of entity Address of registered office of company Type of industry Disclosure of document information [abstract] Date of board meeting when final accounts were approved Period covered by financial statements Date of start of reporting period Date of end of reporting period Nature of report standalone consolidated Content of report Description of presentation currency Level of rounding used in financial statements Type of balance sheet Type of profit and loss statement Type of cash flow statement
01/04/2009 to 31/03/2010
LIFE STYLE INTERNATIONAL PRIVATE LIMITED U52190KA1997PTC046775 AAACL2937J 3RD, 7TH & 8TH FLOOR, DELTA TOWER, SIGMA SOFT TECH PARK, NO.7, WHITEFIELD MAIN ROAD, BANGALORE - 560 066 Commercial and Industrial
06/06/2011 12 months 01/04/2010 31/03/2011 Standalone Balance Sheet INR Actual Sources and Application of Funds [Vertical Format] Main Indirect Method 12 months 01/04/2009 31/03/2010
[630000] Disclosures - Directors report

01/04/2010 to 31/03/2011
Disclosure in board of directors report Textual information (1) [See below] [text block] Keeping in view the need for capital to further expansion plans, your Directors have not Disclosures relating to dividends recommended any dividend for the year.
LIFE STYLE INTERNATIONAL PRIVATE LIMITED Standalone Balance Sheet for period 01/04/2010 to 31/03/2011
Textual information (1)

Disclosure in board of directors report [text block]
LIFESTYLE INTERNATIONAL PRIVATE LIMITED DIRECTORS REPORT
To The Members Lifestyle International Private Limited
Your Directors have pleasure in presenting the Fourteenth Annual Report on the business and operations of the Company together with the Audited Statement of Accounts for the financial year ended 31 stMarch 2011. The financial highlights of the Company are as follows:
FINANCIAL HIGHLIGHTS:
Rupees in Thousands
Particulars
Year ended
Year ended
Retail Turnover
31st March 2011
31st March 2010
Gross Retail Turnover
20,009,595
12,876,890
Other Retail Operating Income
720,101
508,228
Total
20,729,696
13,385,118
Less : Value Added Tax
1,310,675
806,714
Less : Cost of Consignment
707,442
541,317
Total
18,711,579
12,037,087
Other Income
80,612
43,607
Total
18,792,191
12,080,694
Profit / (Loss) before Depreciation / Impairment
921,181
174,513
Less : Depreciation / Impairment
(545,649)
(341,288)
Profit / (Loss) before Tax
375,532
(166,775)
Less : Provision for Taxation
(321,970)
Profit / (Loss) after Taxation
697,502
(166,775)
Add: Profit / (Loss) brought forward from previous year
(166,775)
(909,762)
Profit / (Loss) adjusted against Security Premium
909,762
Profit / (Loss) carried to Balance Sheet
530,727
(166,775)
GENERAL INDUSTRY TRENDS The year 2010-11 was overall a good year across sectors of the economy. Rise in crude oil prices and food inflation remained a major concern for most part of the year which required the Central Bank to exercise a continuous tightening of monetary policy. This resulted in a significant increase in interest costs for industry. The agricultural growth partially offset the drop in industrial production during 2010-11, leading to an overall GDP growth of over 8.5%. Organised retail witnessed impressive same store sales growth and most major players aggressively pursued expansion plans, keeping in view the market opportunity and higher disposable income in the hands of consumers. COMPANY PERFORMANCE The Company posted a Gross Retail Turnover of Rs. 20,009,595 thousand and a Profit before Tax of Rs. 375,532 thousand (Loss of Rs.166,775 thousand in previous year). The Company grew 56% and added over 900,000 sq. ft. of retail space. All three major divisions - Lifestyle Department Stores, Home centre and Max Retail performed well during the year. The Company shall pursue its aggressive expansion plans in 2011-12 as well. Lifestyle Department Stores: This division posted a sales growth of 56% during 2010-11 over the previous year. While new stores launched during the year contributed significantly to the growth, the same store sales growth was equally strong at 19.4% during 2010-11. During the year, your Company expanded its operations by opening 10 Lifestyle stores taking the total number of Lifestyle stores to 26. Home Centre : The furniture and home improvement category performed well and recorded an overall growth of 42% and same store sales growth of 17% over the previous year. The Company opened a Home centre Store in New Delhi taking the total number of stores to 12. Keeping in view the growth plans, the Division has addressed its supply chain needs by setting up a state-of-the art Central Distribution Centre at Chennai. Max: The affordable fashion brand continues to be well accepted by the consumers across the country. This Division achieved an impressive 100% sales growth and 28% same store sales growth over the previous year. The Division added 19 stores during the year, taking the total number of stores to 45.
Max has become a significant player in the value fashion segment and is expected to contribute substantially to the growth and profitability of the Company in the coming years. OUTLOOK While most part of 2010-11 was generally buoyant across all sectors, the effects of inflation started showing in the last quarter of 2010-11. Food inflation came marginally under control pursuant to continuous monetary policy tightening by the Central Bank. The current increase in commodity prices internationally is likely to have an adverse impact on the manufacturing sector and with the continuing high crude oil prices the inflationary trends are likely to continue. The rise in input cotton prices together with levy of excise duty on branded garments may result in cost / margin pressures for the retail industry and the Company is taking steps to control inventory, costs and increase operational efficiencies. The continued aggressive expansion plan of the
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Company is expected to ensure growth in the medium to long term. HUMAN RESOURCES The Company continues to invest in grooming and nurturing its talent base and has made significant outlays in training employees at all levels. The Company has collaborated with well known organisations to train employees of the Company to meet the increasing demands of the business.
MARKETING INITIATIVES Lifestyle : During the year, your Company made substantial investments on brand-building and enhancing the visual imagery of the Lifestyle brand. The initiatives include a new television commercial designed to leverage Lifestyles positioning as a youthful, stylish and a vibrant brand that offers exceptional value for money. Your Company enhanced its presence in the digital medium through online social networking initiatives including a Facebook page to directly engage with its target group. The Facebook page has gained popularity and generated good traction in terms of number of fans. Home Centre : During the year, emphasis was placed on building the Home Centre brand. Brand building initiatives included a campaign carried out across various Home Improvement & Womens Magazines for various product categories. Max: Max consolidated its positioning as a Value Fashion Player in the market by creating properties targeting youth and the family, with effective usage of media and below-the-line activation. The initiatives were designed to provide the customers an opportunity to participate and experience the brand. In the year, the brand successfully launched properties such as Max Miss Bangalore and Max Fashion Weekends to highlight fashion trends. In the mini metros, it launched properties including Max Fashion Icon and Max Little Icon to engage and bond with its target group. The Inner Circle (TIC) Loyalty Programme The Inner Circle, the Consumer Loyalty Program of Lifestyle, continued to gain immense popularity with over 60% customer additions during 2010-11. Currently, the Company enjoys a TIC member base of 2.5 million, which contributed to 50% of sales during the year. IT Initiative The Company is planning to implement Oracle ERP solutions for merchandise management, store/warehouse operations during the course of the next year to optimise efficiency at the operating level. DIVIDEND Keeping in view the need for capital to further expansion plans, your Directors have not recommended any dividend for the year. CHANGE IN CAPITAL STRUCTURE During the year under review, the paid-up equity share capital of your Company has increased from Rs. 1,043,785 thousand to Rs. 1,120,490 thousand, consequent to the issue of further shares. AUDIT COMMITTEE The Company has an Audit Committee of the Board, comprising Mr. Nani B Javeri, Mr. H Ramanathan and Mr. Sayed Parvez Mustafa. Mr. Nani B Javeri is the Chairman of the Audit Committee.
AWARDS & RECOGNITIONS During the year under review, your Company has been conferred with various awards as under: 1) Most Admired Large Format Fashion Retailer Award at the Images Fashion Awards 2011 2) Adjudged 2nd amongst the Most Respected Companies in Retail Category by Business World 2011 3) Home Centre was awarded Most Admired Retailer of the Year Home & Interiors Category at the Images Retail Forum 2010.
EMPLOYEE STOCK OPTION PLAN:
The Company had implemented Employee Stock Option Plan (ESOP) Scheme, 2008, pursuant to which, it had granted 250,000 options to the Whole-time Directors of the Company.
PUBLIC DEPOSITS Your Company has not accepted any fixed deposits under Section 58A of the Companies Act, 1956, during the year under review and as such no amount of principal or interest was outstanding as on the date of the Balance Sheet.
PARTICULARS OF EMPLOYEES Information as required to be furnished in terms of Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, is annexed to and forms part of this Report. INFORMATION AS PER SECTION 217(1) (e) OF THE COMPANIES AcT, 1956 As the main activity of the Company is in the nature of retail business, it does not carry any manufacturing activity, wherein consumption of energy or availing technology and its absorption etc. are involved. Therefore, the other particulars required under Section 217(1) (e) of the Companies Act, 1956, read with the provisions of the Companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988, regarding Technology Absorption, Research & Development etc., do not apply. FOREIGN EXCHANGE EARNINGS AND OUTGO Foreign Exchange earned: Rs. NIL Foreign Exchange used : Rs. 1,247,870,074
DIRECTORS RESPONSIBILITY STATEMENT Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors to the best of their knowledge and belief confirm that: (i) In the preparation of the annual accounts, the applicable accounting standards have been followed by the Company. (ii) Appropriate accounting policies have been selected and applied consistently and such judgments and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31 stMarch 2011 and the profit of the Company for the year ended on that date. (iii) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and (iv) Accounts have been prepared on a going concern basis.
DIRECTORS The Board of Directors at its meeting held on 4 thAugust 2010 and 2 ndNovember 2010 has appointed Mr. Nani B. Javeri and Mr. Sayed Parvez Mustafa, respectively, as Additional Directors of the Company. Mr. Nimo Punwani resigned as Director of the Company on 3 rd March 2011.
AUDITORS M/s. Price Waterhouse, Chartered Accountants, the Auditors of the Company retire at the ensuing Annual General Meeting and are eligible for re-appointment.
PARA 9 OF ANNEXURE TO THE AUDITORS REPORT With reference to the observation made by the Auditors in para 9(a) of the annexure to their report with regard to delay in deposit of Provident Fund (PF) and Employees State Insurance (ESI) dues to the concerned authorities, the delay in remittance of PF and ESI contributions in few cases were due to difficulties experienced in remittance through on-line payment system and also due to delay in allotting employer sub-codes by these authorities in few locations where the Company newly started operations. However, the Company has since put in place a system to obviate such delays.
PARA 17 OF ANNEXURE TO THE AUDITORS REPORT With reference to the observation made by the Auditors in para 17 of the annexure to their report with regard to use of short term funds for long term purposes, the utilisation of short term funds for long term purposes was primarily due to the Company incurring the capital expenditure first and thereafter seeking disbursement of long term loan from the banks. However, the Company has initiated measures to address the issue in future. ACKNOWLEDGEMENT Your Directors thank the bankers, vendors, and customers for their continued support and also record their appreciation of the concerted efforts put in by the employees of the Company.
For and on behalf of the Board of Directors
Place: Bangalore
Kabir Lumba
M. Vasanth Kumar
Date: 6th June 2011
Managing Director
Executive Director
Annexure to the Directors' Report 2010-11 Statement under Sub-section (2A) of Section 217 of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, as amended, and forming part of the Directors' Report for the year ended 31st March 2011 Sl Employee NO Name Age Designation & Nature of duties Remuneration Experience Date of Qualification Previous Employment Held Received In Years Employment
Chandrasekaran President South and 44 S Western Operations
6988367
ACA
18 Years
01-Aug-02
Deputy General ManagerShoemart LLC UAE
Kabir Lumba
43 Managing Director
16113381
Bcom
17 Years
14-Mar-04
Chief Operating Officer- Proline India Ltd
Shekar Chathapuram
48
President - Retail Operations
6008979
BE
27 years
25-Nov-05
Retail Manager - Landmark Group - Dubai
Sundararaman N
48
President - Group Finance 6356640 & Corporate Affairs
BSC, CA, ICWA
20 Years
04-Jan-06
Deputy General Manager Business Development, Landmark -UAE
Vasanth Kumar 50 Executive Director M
13533983
BE MTECH 19 years DBM
19-Feb-05
Vice President - Madura Garments
Notes *Employed for part of the year. None of the aforesaid employees are related to any directors of the company.
01/04/2010 to 31/03/2011 Details of directors signing board report

1
Name of director signing board report [abstract] First name of director Last name of director Designation of director Director identification number of director Date of signing board report KABIR LUMBA MANAGING DIRECTOR 00181791 06/06/2011
2
VASANTH KUMAR M Whole-time director 00318913 06/06/2011
[620000] Disclosures - Auditors report

01/04/2010 to 31/03/2011
Disclosure in auditors report [text block] Whether auditors' report has been qualified or has any reservations or contains adverse remarks Disclosure in auditors report relating to fixed assets Disclosure relating to quantitative details of fixed assets Disclosure relating to physical verification and material discrepancies of fixed assets Disclosure relating to fixed assets disposed off Textual information (2) [See below] Yes The Company is Maintaining proper records showing full particulars, Including quantitative details & situation of fixed assets. Textual information (3) [See below] In our Opinion & according to the information and explanations given to us, a substantial part of fixed assets has not been disposed off by the company during the year.
Disclosure in auditors report relating to inventories Disclosure of physical verification of inventories Textual information (4) [See below] at fixed intervals In our opinion the procedure of physical verification of inventories followed by Disclosure of procedure followed for physical the management are reasonable and adequate in relation to the size of the verification of inventories company & nature of its business. Disclosure about maintenance of inventory Textual information (5) [See below] records and material discrepancies Disclosure in auditors report relating to loans Disclosure about loans granted or taken by parties Textual information (6) [See below] covered under section301 of companies act Disclosure regarding terms and conditions of Textual information (7) [See below] loans granted or taken Disclosure in auditors report relating to internal Textual information (8) [See below] control system Disclosure in auditors report relating to contracts Textual information (9) [See below] and arrangements under section301 of companies act Disclosure relating to reasonability of transactions Textual information (10) [See below] Disclosure in auditors report relating to deposits The Company has not accepted any deposits from the public within the meaning accepted from public of Sections 58A and 58AA of the Act and the rules framed there under. Disclosure in auditors report relating to companies In our opinion, the Company has an internal audit system commensurate with its internal audit system size and nature of its business. Disclosure in auditors report relating to statutory Textual information (11) [See below] dues Disclosure relating to regularity in payment of Textual information (12) [See below] undisputed statutory dues The Company has no accumulated losses as at March 31, 2011 and it has not Disclosure in auditors report relating to accumulated incurred any cash losses in the financial year ended on that date or in the losses immediately preceding financial year Disclosure in auditors report relating to default in Textual information (13) [See below] repayment of financial dues Disclosure in auditors report relating to loans and The Company has not granted any loans and advances on the basis of security by advances granted by way of pledge of shares way of pledge of shares, debentures and other securities. debentures and other securities Disclosure in auditors report relating to provisions The provisions of any special statute applicable to chit fund / nidhi / mutual under special statute benefit fund/ societies are not applicable to the Company. In our opinion and according to the information and explanations given to us, the Disclosure in auditors report relating to guarantee Company has not given any guarantee for loans taken by others from banks or given financial institutions during the year. Disclosure in auditors report relating to term loans In our opinion, and according to the information and explanations given to us, on used for purpose other than for purpose they were an overall basis, the term loans have been applied for the purposes for which they raised were obtained.
Disclosure in auditors report relating to nature and amount of fund raised for short-term has been used for Textual information (14) [See below] long-term or vice versa The Company has not made any preferential allotment of shares to parties and Disclosure in auditors report relating to preferential companies covered in the register maintained under Section 301 of the Act during allotment of shares the year Disclosure in auditors report relating to securities The Company has created security or charge in respect of debentures issued and created against debentures issued outstanding at the year-end. Disclosure in auditors report relating to purpose and The Company has not raised any money by public issues during the year end use of money raised through public issues Disclosure in auditors report relating to any material Textual information (15) [See below] fraud reported during period

Disclosure in auditors report [text block]
Auditors' Report
To the Members of Lifestyle International Private Limited
1. We have audited the attached Balance Sheet of Lifestyle International Private Limited (the "Company") as at March 31, 2011, and the related Profit and Loss Account and Cash Flow Statement for the year ended on that date annexed thereto, which we have signed under reference to this report. These financial statements are the responsibility of the Company's Management. Our responsibility is to express an opinion on these financial statements based on our audit.
2. We conducted our audit in accordance with the auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by Management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
3. As required by the Companies (Auditor's Report) Order, 2003, as amended by the Companies (Auditor's Report) (Amendment) Order, 2004 (together the "Order"), issued by the Central Government of India in terms of sub-section (4A) of Section 227 of 'The Companies Act, 1956' of India (the `Act') and on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to us, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order. 4. Further to our comments in the Annexure referred to in paragraph 3 above, we report that:
a) We have obtained all the information and explanations which, to the best of our and belief, were necessary for the purposes of our audit;
b) In our opinion, proper books of account as required by law have been kept by he Company so far as appears from our examination of those books; c) The Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account; with by this report comply with the accounting
d) In our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt standards referred to in sub-section (3C) of Section 211 of the Act;
e) On the basis of written representations received from the directors, as on March 31, 2011 and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2011 from being appointed as a director in terms of clause (9) of sub-section (1) of Section 274 of the Act;
f) In our opinion and to the best of our information and according to the explanations given to us, the said financial statements together with the notes thereon and attached thereto give, inthe prescribed manner, the information required by the Act, and give a true and fair view in conformity with the accounting principles generally accepted in India: i. 2011; in the case of the Balance Sheet, of the state of affairs of the company as at March 31,
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ii.
in the case of the Profit and Loss Account, of the profit for the year ended on that date;
iii.
in the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

Disclosure relating to physical verification and material discrepancies of fixed assets
The fixed assets are physically verified by the Management according to a phased programme designed to cover all the items over a period of 3 years which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. Pursuant to the programme, a portion of the fixed assets has been physically verified by the Management during the year and no material discrepancies between the book records and the physical inventory have been noticed.

Disclosure of physical verification of inventories at fixed intervals
The Inventory has been physically verified by the management during the year. In Respect of invrntory lying with the third parties, these have substantially confirmed by them. In our opinion the frequency of verification is reasonable.

Disclosure about maintenance of inventory records and material discrepancies
On the basis of our examination of the inventory records in our opinion the company is maintaining proper records of inventory. The discrepancies noticed on physical verification of inventory as compared to book records were not material.

Disclosure about loans granted or taken by parties covered under section301 of companies act
The company has not granted any loans, secured or unsecured, to companies, firms or other parties covered in the register maintained under Section 301 of the Act and accordingly, paragraphs iii(b), iii(c) and iii(d) of the Order, are not applicable.

Disclosure regarding terms and conditions of loans granted or taken
The company has not taken any loans secured or unsecured, from companies, firms or other parties covered in the register maintained under Section 301 of the Act and accordingly, paragraphs iii(f) and iii(g) of the Order, are not applicable

Disclosure in auditors report relating to internal control system
In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchase of inventory, fixed assets and for the sale of goods. Further, on the basis of our examination of the books and records of the Company, and according to the information and explanations given to us, we have neither come across nor have been informed of any continuing failure to correct major weaknesses in the aforesaid internal control system.
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Disclosure in auditors report relating to contracts and arrangements under section301 of companies act
In our opinion and according to the information and explanations given to us, the particulars of contracts or arrangements referred to in Section 301 of the Act have been entered in the register required to be maintained under that section.

Disclosure relating to reasonability of transactions
In our opinion and according to the information and explanations given to us, the transactions made in pursuance of such contracts or arrangements and exceeding the value of Rupees Five Lakhs in respect of any party during the year have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time.

Disclosure in auditors report relating to statutory dues
According to the information and explanations given to us and the records of the Company examined by us, in our opinion, except dues in respect of employees' state insurance and provident fund the Company is regular in depositing the undisputed statutory dues including provident fund, investor education and protection fund, employees' state insurance, income-tax, sales-tax, wealth tax, service tax, customs duty, excise duty, cess and other material statutory dues as applicable with the appropriate authorities

Disclosure relating to regularity in payment of undisputed statutory dues
According to the information and explanations given to us and the records of the Company examined by us, there are no dues of income-tax, sales-tax, wealth-tax, service-tax, customs duty, excise duty and cess which have not been deposited on account of any dispute.

Disclosure in auditors report relating to default in repayment of financial dues
According to the records of the Company examined by us and the information and explanation given to us, the Company has not defaulted in repayment of dues to any financial institution or bank or debenture holders as at the balance sheet date.

Disclosure in auditors report relating to nature and amount of fund raised for short-term has been used for long-term or vice versa
On the basis of an overall examination of the balance sheet of the company, in our opinion and according to the information and explanations given to us, short term funds amounting to Rs. 213,454,964/- have been used for long term purposes

Disclosure in auditors report relating to any material fraud reported during period
During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us, we have neither come across any instance of fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the Management.
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01/04/2010 to 31/03/2011 Details regarding auditors

1
Name of audit firm Name of auditor signing report Membership number of auditor Address of auditors Permanent account number of auditor or auditor's firm SRN of form 23B Date of signing audit report by auditors Date of signing of balance sheet by auditors PRICE WATERHOUSE DIBYENDU MAJUMDER 57687 THE MILLENIA, TOWER 'D' , 6TH FLOOR, #1 & 2, MURPHY ROAD, ULSOOR, BANGALORE - 560008 AAFFP3698A S03215100 06/06/2011 06/06/2011
13
[100000] Sources and Application of Funds

31/03/2011
Sources application funds [abstract] Sources of funds [abstract] Shareholders' funds [abstract] Paid-up share capital Reserves surplus Shareholders' funds Share application money pending allotment [abstract] Equity share capital pending allotment Securities premium pending allotment Share application money pending allotment Loan funds [abstract] Secured loans Unsecured loans Loan funds Sources of funds Application of funds [abstract] Fixed assets [abstract] Net block [abstract] Gross block Accumulated depreciation, amortization and impairment [abstract] Accumulated depreciation amortisation Accumulated impairment Accumulated depreciation amortisation impairment Net block Capital work-in progress, net Fixed assets Investments, net Net deferred tax asset Net current assets [abstract] Current assets loans advances [abstract] Current assets [abstract] Sundry debtors Cash bank balance Inventories Other current assets Current assets Loans advances Current assets loans advances Current liabilities provisions [abstract] Current liabilities Provisions Current liabilities provisions Net current assets Miscellaneous expenditure not written off Profit loss debit balance Application of funds
31/03/2010
31/03/2009
112,04,90,300 179,01,23,166 291,06,13,466 126 0 126 334,98,86,650 10,02,00,028 345,00,86,678 636,07,00,270
104,37,85,200 89,65,30,163 194,03,15,363 126 3,73,12,500 3,73,12,626 226,76,36,379 0 226,76,36,379 424,52,64,368
73,52,91,376
479,63,00,586 178,79,14,738 79,57,037 179,58,71,775 300,04,28,811 37,61,73,148 337,66,01,959 0 32,19,69,700
338,30,45,214 130,60,68,570 1,70,10,488 132,30,79,058 205,99,66,156 23,46,30,692 229,45,96,848 0 0
280,65,35,637 94,71,29,580 1,26,95,162 95,98,24,742 184,67,10,895
13,71,74,169 3,65,20,200 530,43,15,358 153,21,57,666 701,01,67,393 61,94,62,263 762,96,29,656 458,22,66,905 38,52,34,140 496,75,01,045 266,21,28,611 0 0 636,07,00,270
6,17,35,224 7,05,95,206 318,54,63,099 125,47,39,256 457,25,32,785 44,85,98,628 502,11,31,413 284,25,81,645 22,78,82,248 307,04,63,893 195,06,67,520 0 0 424,52,64,368
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[640000] Disclosures - Signatories of balance sheet

01/04/2010 to 31/03/2011
Details of signatories of balance sheet [abstract] Details of company secretary [abstract] Name of company secretary Permanent account number of company secretary Date of signing of balance sheet by company secretary
S JAGADISHA RAO AEMPR3380J 06/06/2011
01/04/2010 to 31/03/2011 Details of directors signing balance sheet

1
Name of director signing balance sheet [abstract] First name of director Last name of director Designation of director Director identification number of director Date of signing of balance sheet by director KABIR LUMBA MANAGING DIRECTOR 00181791 06/06/2011
2
VASANTH KUMAR M EXECUTIVE DIRECTOR 00318913 06/06/2011
15
[300000] Statement of Cash Flow, Indirect Method

01/04/2010 to 31/03/2011
Cash flow statement [abstract] Net increase decrease cash and cash equivalents [abstract] Net cash flow from used in operating activities [abstract] Net profit loss before tax extraordinary items Adjustments profit loss operations [abstract] Adjustment depreciation depletion amortisation [abstract] Adjustment depreciation Adjustment depreciation depletion amortisation Adjustment provisions, net [abstract] Adjustment provision doubtful debts advances Adjustment provisions, net Adjustment employee compensation [abstract] Adjustment employee stock option plan Adjustment employee compensation Adjustment gain loss sale disposal fixed assets Adjustment gain loss foreign exchange fluctuations Adjustment interest expense Adjustments profit loss operations Operating profit loss before changes working capital Changes working capital [abstract] Changes current assets loans advances [abstract] Changes inventories Changes sundry debtors Changes loans advances Changes current assets loans advances Changes current liabilities provisions [abstract] Changes other liabilities Changes current liabilities provisions Changes working capital Cash from generated operations Direct taxes paid refunded Net cash flow from used in operating activities Net cash flow used in investing activities [abstract] Purchase development fixed assets [abstract] Purchase tangible fixed assets Purchase development fixed assets Purchase other assets Purchase investment property Proceeds sale disposal fixed assets [abstract] Proceeds sale disposal tangible fixed assets Proceeds sale disposal fixed assets Net cash flow used in investing activities Net cash flow from used in financing activities [abstract] Proceeds issue share capital [abstract] Proceeds issue equity share capital Proceeds issue share capital Proceeds financial liabilities [abstract] Proceeds long-term borrowings Proceeds short-term borrowings Proceeds financial liabilities Interest financial expenses paid [abstract]
16
01/04/2009 to 31/03/2010
31/03/2009
37,55,31,429
-16,67,74,441
54,56,48,318 54,56,48,318 9,19,83,056 9,19,83,056 16,28,874 16,28,874 3,24,76,536 -24,05,256 25,35,66,788 92,28,98,316 129,84,29,745
34,12,88,521 34,12,88,521 4,27,85,411 4,27,85,411 25,36,479 25,36,479 2,91,34,486 -1,25,050 21,96,78,223 63,52,98,070 46,85,23,629
-211,88,52,259 -7,54,38,945 -18,98,69,471 -238,41,60,675 179,11,95,025 179,11,95,025 -59,29,65,650 70,54,64,095 7,29,77,221 63,24,86,874
-57,29,49,561 -2,75,27,259 5,31,27,238 -54,73,49,582 76,97,41,850 76,97,41,850 22,23,92,268 69,09,15,897 2,30,76,861 66,78,39,036
142,67,94,871 142,67,94,871 14,15,42,456 27,74,18,410 1,64,54,746 1,64,54,746 -182,93,00,991
46,32,70,672 46,32,70,672 13,36,83,963 29,05,41,928 95,08,101 95,08,101 -87,79,88,462
23,38,55,600 23,38,55,600 49,22,76,961 69,01,73,338 118,24,50,299
62,00,00,000 62,00,00,000 28,32,40,442 -43,93,10,486 -15,60,70,044
Interest expense long-term loans paid Interest financial expenses paid Net cash flow from used in financing activities Net increase decrease cash and cash equivalents Cash and Cash Equivalents, Ending Balance
25,35,66,788 25,35,66,788 116,27,39,111 -3,40,75,006 3,65,20,200
21,96,78,223 21,96,78,223 24,42,51,733 3,41,02,307 7,05,95,206
3,64,92,899
[100100] Schedule - Share capital

31/03/2011
Share capital [abstract] Authorised share capital [abstract] Authorised equity share capital Authorised preference share capital Authorised share capital Issued subscribed share capital [abstract] Issued share capital [abstract] Equity share capital issued Preference share capital issued Issued share capital Subscribed share capital [abstract] Equity share capital subscribed Preference share capital subscribed Subscribed share capital Paid-up share capital [abstract] Paid-up equity share capital Paid-up preference share capital Paid-up share capital
31/03/2010
125,00,00,000 0 125,00,00,000
125,00,00,000 0 125,00,00,000
112,04,90,300 0 112,04,90,300 112,04,90,300 0 112,04,90,300 112,04,90,300 0 112,04,90,300
104,37,85,200 0 104,37,85,200 104,37,85,200 0 104,37,85,200 104,37,85,200 0 104,37,85,200
01/04/2010 to 31/03/2011 Details of every class of share capital

1
Type of share Nature of share Nominal value per authorised share Number of authorised shares Value of authorised shares Nominal value per issued share Number of issued shares Value of issued shares Nominal value per subscribed share Number of subscribed shares Value of subscribed shares Nominal value per paid-up share Number of paid-up shares Value of paid-up shares Equity Equity [INR/shares] 10 [shares] 12,50,00,000 125,00,00,000 [INR/shares] 10 [shares] 11,20,49,030 112,04,90,300 [INR/shares] 10 [shares] 11,20,49,030 112,04,90,300 [INR/shares] 10 [shares] 11,20,49,030 112,04,90,300
17
01/04/2009 to 31/03/2010 Details of every class of share capital

1
Type of share Nature of share Nominal value per authorised share Number of authorised shares Value of authorised shares Nominal value per issued share Number of issued shares Value of issued shares Nominal value per subscribed share Number of subscribed shares Value of subscribed shares Nominal value per paid-up share Number of paid-up shares Value of paid-up shares Equity Equity [INR/shares] 10 [shares] 12,50,00,000 125,00,00,000 [INR/shares] 10 [shares] 10,43,78,520 104,37,85,200 [INR/shares] 10 [shares] 10,43,78,520 104,37,85,200 [INR/shares] 10 [shares] 10,43,78,520 104,37,85,200
[100200] Schedule - Reserves and Surplus

01/04/2010 to 31/03/2011
Reserves surplus [abstract] Employee stock option reserve [abstract] Changes employee stock option reserve [abstract] Additions employee stock option reserve Changes employee stock option reserve Employee Stock Option Reserve, Ending Balance Securities premium [abstract] Changes securities premium [abstract] Additions securities premium Other deductions securities premium Changes securities premium Securities Premium, Ending Balance Profit loss account [abstract] Changes profit loss account [abstract] Additions profit loss account Deductions profit loss account Changes profit loss account Profit (Loss) Account, Ending Balance Reserves surplus
01/04/2009 to 31/03/2010
31/03/2009
16,28,874 16,28,874 57,48,233
25,35,479 25,35,479 41,19,359
15,83,880
19,44,63,000 0 19,44,63,000 125,36,48,245
46,50,00,000 104,92,84,355 -58,42,84,355 105,91,85,245
164,34,69,600
69,75,01,129 0 69,75,01,129 53,07,26,688 179,01,23,166
90,97,62,104 16,67,74,441 74,29,87,663 -16,67,74,441 89,65,30,163
-90,97,62,104 73,52,91,376
18
[100210] Schedule - Reserves and Surplus [Summary]

01/04/2010 to 31/03/2011
Reserves surplus [abstract] Changes reserves surplus Reserves and Surplus, Ending Balance 89,35,93,003 179,01,23,166
01/04/2009 to 31/03/2010
16,12,38,787 89,65,30,163
31/03/2009
73,52,91,376
[100300] Schedule - Secured debt

31/03/2011
Secured loans [abstract] Rupee term loans secured [abstract] Rupee term loans banks secured Rupee term loans secured Working capital loans secured [abstract] Working capital loans banks secured Working capital loans others secured Working capital loans secured Secured loans
31/03/2010
169,02,39,400 169,02,39,400 143,05,35,274 22,91,11,976 165,96,47,250 334,98,86,650
129,81,62,467 129,81,62,467 67,81,07,235 29,13,66,677 96,94,73,912 226,76,36,379
[100400] Schedule - Unsecured debt

31/03/2011
Unsecured loans [abstract] Public deposits unsecured Finance lease obligation long-term unsecured Unsecured loans 0 10,02,00,028 10,02,00,028
31/03/2010
0 0 0
19
[100600] Schedule - Fixed assets

01/04/2010 01/04/2009 to to 31/03/2009 31/03/2011 31/03/2010

Summary of assets [abstract] Net block [abstract] Additions to, gross block during period Deductions in, gross block during period Gross block, at end of period Accumulated depreciation, amortization and impairment [abstract] Depreciation amortisation during period Deductions in depreciation amortisation during period Accumulated depreciation amortisation, at end of period Impairment during period Reversal of impairment during period Accumulated impairment, at end of period Accumulated depreciation amortisation impairment, at end of period Net block, at end of period Capital work-in progress, net [abstract] Tangible assets work-in progress, net Capital advances, net Capital work-in progress, net Classes of assets [abstract] Tangible assets, net [abstract] Land and land improvements, net [abstract] Land, net [abstract] Free hold land, net [abstract] Free hold land, gross, at end of period Accumulated impairment free hold land, at end of period Free hold land, net, at end of period Lease hold land, net [abstract] Accumulated amortisation leasehold land, at end of period Accumulated impairment lease hold land, at end of period Land, net Land improvements, net [abstract] Accumulated depreciation land improvements, at end of period Accumulated impairment land improvements, at end of period Land and land improvements, net Building and building improvements, net [abstract] Building, net [abstract] Residential building, net [abstract] Accumulated depreciation residential building, at end of period Accumulated impairment residential building, at end of period Office building, net [abstract] Accumulated depreciation office building, at end of period Accumulated impairment office building, at end of period Factory building, net [abstract] Accumulated depreciation factory building, at end of period Accumulated impairment factory building, at end of period Other building, net [abstract] Deductions in other building, gross during period Other building, gross, at end of period Depreciation other building during period Deductions in depreciation other building during period Other adjustments to depreciation other building during period
20
153,50,42,253 65,22,78,021 12,17,86,881 7,57,68,444 479,63,00,586 338,30,45,214 280,65,35,637 55,47,01,769 39,60,64,846 7,28,55,602 3,71,25,856 178,79,14,738 130,60,68,570 94,71,29,580 21,30,021 63,90,717 1,11,83,472 20,75,391 79,57,037 1,70,10,488 1,26,95,162 179,58,71,775 132,30,79,058 95,98,24,742 300,04,28,811 205,99,66,156 184,67,10,895 25,75,59,983 11,86,13,165 37,61,73,148 15,88,77,307 7,57,53,385 23,46,30,692
23,85,84,543 0 23,85,84,543 0 0 23,85,84,543 0 0 23,85,84,543
23,85,84,543 0 23,85,84,543 0 0 23,85,84,543 0 0 23,85,84,543
23,85,84,543 23,85,84,543
0 0 0 0 0 0 37,85,738 22,93,46,290 43,31,150 0 -30,262
0 0 0 0 0 0 0 23,31,32,028 38,02,382 5,38,455 0
23,31,32,028
Accumulated depreciation other building, at end of period Accumulated impairment other building, at end of period Other building, net, at end of period Building, net Building improvements, net [abstract] Accumulated depreciation building improvements, at end of period Accumulated impairment building improvements, at end of period Building and building improvements, net Plant machinery, net [abstract] Additions to plant machinery, gross during period Deductions in plant machinery, gross during period Plant machinery, gross, at end of period Depreciation plant machinery during period Deductions in depreciation plant machinery during period Other adjustments to depreciation plant machinery during period Accumulated depreciation plant machinery, at end of period Reversal of impairment plant machinery during period Accumulated impairment plant machinery, at end of period Plant machinery, net, at end of period Equipments, net [abstract] Office equipments, net [abstract] Accumulated depreciation office equipments, at end of period Accumulated impairment office equipments, at end of period Factory equipments, net [abstract] Accumulated depreciation factory equipments, at end of period Accumulated impairment factory equipments, at end of period Computer equipments, net [abstract] Additions to computer equipments, gross during period Deductions in computer equipments, gross during period Computer equipments, gross, at end of period Depreciation computer equipments during period Deductions in depreciation computer equipments during period Other adjustments to depreciation computer equipments during period Accumulated depreciation computer equipments, at end of period Impairment computer equipments during period Accumulated impairment computer equipments, at end of period Computer equipments, net, at end of period Other equipments, net [abstract] Accumulated depreciation other equipments, at end of period Accumulated impairment other equipments, at end of period Equipments, net Furniture fixtures, net [abstract] Additions to furniture fixtures, gross during period Deductions in furniture fixtures, gross during period Furniture fixtures, gross, at end of period Depreciation furniture fixtures during period Deductions in depreciation furniture fixtures during period Other adjustments to depreciation furniture fixtures during period Accumulated depreciation furniture fixtures, at end of period Impairment furniture fixtures during period Reversal of impairment furniture fixtures during period Accumulated impairment furniture fixtures, at end of period Furniture fixtures, net, at end of period Vehicles, net [abstract] Ships vessels, net [abstract] Accumulated depreciation ships vessels, at end of period Accumulated impairment ships vessels, at end of period Aircrafts helicopters, net [abstract] Accumulated depreciation aircrafts helicopters, at end of period Accumulated impairment aircrafts helicopters, at end of period
21
3,82,08,344 0 19,11,37,946 19,11,37,946 0 0 19,11,37,946 21,78,83,607 41,35,86,905 55,88,69,802 7,81,18,635 1,69,32,799 -16,15,00,937 23,66,45,337 38,60,430 13,87,331 32,08,37,134
3,39,07,456 0 19,92,24,572 19,92,24,572 0 0 19,92,24,572 14,65,18,394 1,84,75,377 75,45,73,100 9,47,87,203 63,51,973 0 33,69,60,438 20,75,391 52,47,761 41,23,64,901
3,06,43,529 20,24,88,499
62,65,30,083
24,85,25,208 73,23,152 37,06,81,723
0 0 0 0 9,26,06,688 23,75,861 28,54,54,264 4,17,42,230 49,01,176 3,68,673 15,93,11,016 3,35,230 3,35,230 12,58,08,018 0 0 12,58,08,018
0 0 0 0 2,81,03,077 3,77,303 19,52,23,437 3,31,28,828 93,989 0 12,21,01,289 0 0 7,31,22,148 0 0 7,31,22,148
16,74,97,663
8,90,66,450
7,84,31,213
54,25,02,517 30,52,89,979 35,34,16,215 4,23,55,734 167,49,45,916 148,58,59,614 122,29,25,369 22,29,60,323 20,04,57,053 3,22,09,956 1,83,58,891 -12,38,38,045 0 72,98,43,093 66,29,30,770 48,08,32,607 0 44,14,429 73,23,042 0 16,08,783 89,31,825 45,17,396 94,34,94,040 81,39,97,019 73,75,75,366
0 0 0 0
0 0 0 0
Motor vehicles, net [abstract] Additions to motor vehicles, gross during period Deductions in motor vehicles, gross during period Motor vehicles, gross, at end of period Depreciation motor vehicles during period Deductions in depreciation motor vehicles during period Accumulated depreciation motor vehicles, at end of period Accumulated impairment motor vehicles, at end of period Motor vehicles, net, at end of period Vehicles, net Leasehold properties, net [abstract] Leasehold improvements, net [abstract] Additions to leasehold improvements, gross during period Deductions in leasehold improvements, gross during period Leasehold improvements, gross, at end of period Depreciation leasehold improvements during period Deductions in depreciation leasehold improvements during period Other adjustments to depreciation leasehold improvements during period Accumulated depreciation leasehold improvements, at end of period Impairment leasehold improvements during period Accumulated impairment leasehold improvements, at end of period Leasehold improvements, net, at end of period Leasehold building, net [abstract] Accumulated depreciation leasehold building, at end of period Accumulated impairment leasehold building, at end of period Leasehold plant machinery, net [abstract] Accumulated depreciation leasehold plant machinery, at end of period Reversal of impairment plant machinery during period Accumulated impairment leasehold plant machinery, at end of period Leasehold equipments, net [abstract] Accumulated depreciation leasehold equipments, at end of period Accumulated impairment leasehold equipments, at end of period Leasehold vehicles, net [abstract] Accumulated depreciation leasehold vehicles, at end of period Accumulated impairment leasehold vehicles, at end of period Leasehold other assets, net [abstract] Accumulated depreciation leasehold other assets, at end of period Accumulated impairment leasehold other assets, at end of period Leasehold properties, net Livestock, net [abstract] Accumulated impairment livestock, at end of period Bridges roads ports culverts, net [abstract] Accumulated depreciation bridges roads ports culverts, at end of period Accumulated impairment bridges roads ports culverts, at end of period Railway sidings, net [abstract] Accumulated depreciation railway sidings, at end of period Accumulated impairment railway sidings, at end of period Plantations, net [abstract] Accumulated depreciation plantations, at end of period Accumulated impairment plantations, at end of period Books periodicals, net [abstract] Accumulated depreciation books periodicals, at end of period Accumulated impairment books periodicals, at end of period Mines quarries, net [abstract] Accumulated depreciation mines quarries, at end of period Accumulated impairment mines quarries, at end of period Other fixed assets, net [abstract] Accumulated depreciation other fixed assets, at end of period Accumulated impairment other fixed assets, at end of period Intangible assets, net [abstract]
22
38,51,364 8,13,584 1,96,69,747 22,52,910 8,13,584 1,34,85,551 0 61,84,196 61,84,196
0 31,42,860 1,66,31,967 25,99,136 29,41,452 1,20,46,225 0 45,85,742 45,85,742
1,97,74,827
1,23,88,541 73,86,286
56,35,77,514 -65,28,87,586 164,76,01,413 19,25,49,492 1,79,98,087 28,50,96,276 57,93,77,178 17,94,791 46,25,693 106,35,98,542 0 0 0 38,60,430 0 0 0 0 0 0 0 106,35,98,542 0 0 0 0 0 0 0 0 0 0 0 0 0
16,55,30,971 1,14,17,170 43,11,36,313 5,76,12,357 88,41,096 0 11,97,29,497 19,76,288 28,30,902 30,85,75,914 0 0 0 20,75,391 0 0 0 0 0 0 0 30,85,75,914 0 0 0 0 0 0 0 0 0 0 0 0 0
27,70,22,512
7,09,58,237 8,54,614 20,52,09,661
Acquired goodwill, net [abstract] Accumulated amortisation acquired goodwill, at end of period Accumulated impairment acquired goodwill, at end of period Knowhow, net [abstract] Accumulated amortisation knowhow, at end of period Accumulated impairment knowhow, at end of period Computer software, net [abstract] Additions to computer software, gross during period Deductions in computer software, gross during period Computer software, gross, at end of period Amortisation computer software during period Other adjustments to amortisation computer software during period Accumulated amortisation computer software, at end of period Accumulated impairment computer software, at end of period Computer software, net, at end of period Patents trademarks design, net [abstract] Patents trademarks design, gross, at end of period Accumulated amortisation patents trademarks design, at end of period Accumulated impairment patents trademarks design, at end of period Commercial contractual rights, net [abstract] Accumulated amortisation commercial contractual rights, at end of period Accumulated impairment commercial contractual rights, at end of period Licenses, net [abstract] Accumulated amortisation licenses, at end of period Accumulated impairment licenses, at end of period Development cost, net [abstract] Accumulated amortisation development cost, at end of period Accumulated impairment development cost, at end of period Other intangible assets, net [abstract] Accumulated amortisation other intangible assets, at end of period Accumulated impairment other intangible assets, at end of period Assets financial lease, net [abstract] Additions to assets financial lease, gross during period Assets financial lease, gross, at end of period Depreciation amortisation assets financial lease during period Accumulated depreciation amortisation assets financial lease, at end of period Accumulated impairment assets financial lease, at end of period Assets financial lease, net, at end of period
0 0 0 0 14,51,702 6,96,164 2,64,65,379 41,77,604 -95,705 2,02,80,423 0 61,84,956 21,94,371 21,94,371 0 0 0 0 0 0 0 0 0 11,31,68,861 11,31,68,861 85,69,425 85,69,425 0 10,45,99,436
0 0 0 0 68,35,600 0 2,57,09,841 36,77,887 0 1,61,98,524 0 95,11,317 21,94,371 21,94,371 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
1,88,74,241
1,25,20,637 63,53,604 21,94,371 21,94,371
23
[100610] Schedule - Fixed assets, net-gross classification

01/04/2010 01/04/2009 to to 31/03/2009 31/03/2011 31/03/2010

Gross block [abstract] Tangible assets, gross [abstract] Land and land improvements, gross [abstract] Land, gross [abstract] Free hold land, gross Land, gross Land and land improvements, gross Building and building improvements, gross [abstract] Building, gross [abstract] Other building, gross Building, gross Building and building improvements, gross Plant machinery, gross Equipments, gross [abstract] Computer equipments, gross Equipments, gross Furniture fixtures, gross Vehicles, gross [abstract] Motor vehicles, gross Vehicles, gross Leasehold properties, gross [abstract] Leasehold improvements, gross Leasehold properties, gross Tangible assets, gross Intangible assets, gross [abstract] Computer software, gross Patents trademarks design, gross Intangible assets, gross Assets financial lease, gross Gross block Accumulated depreciation, amortization and impairment [abstract] Accumulated depreciation amortisation [abstract] Accumulated depreciation on tangible assets [abstract] Accumulated depreciation land and land improvements [abstract] Accumulated depreciation land [abstract] Accumulated amortisation leasehold land Accumulated depreciation land Accumulated depreciation land improvements Accumulated depreciation land and land improvements Accumulated depreciation building and building improvements [abstract] Accumulated depreciation building [abstract] Accumulated depreciation residential building Accumulated depreciation office building Accumulated depreciation factory building Accumulated depreciation other building Accumulated depreciation building Accumulated depreciation building improvements Accumulated depreciation Building and building improvements Accumulated depreciation plant machinery Accumulated depreciation equipments [abstract] Accumulated depreciation office equipments
24
23,85,84,543 23,85,84,543 23,85,84,543 23,85,84,543 23,85,84,543 23,85,84,543 23,85,84,543
22,93,46,290 22,93,46,290 22,93,46,290 55,88,69,802
23,31,32,028 23,31,32,028 23,31,32,028 23,31,32,028 75,45,73,100 62,65,30,083
28,54,54,264 19,52,23,437 16,74,97,663 28,54,54,264 19,52,23,437 167,49,45,916 148,58,59,614 122,29,25,369 1,96,69,747 1,96,69,747 1,66,31,967 1,66,31,967 1,97,74,827
164,76,01,413 43,11,36,313 27,70,22,512 164,76,01,413 43,11,36,313 465,44,71,975 335,51,41,002 2,64,65,379 2,57,09,841 1,88,74,241 21,94,371 21,94,371 21,94,371 2,86,59,750 2,79,04,212 11,31,68,861 0 479,63,00,586 338,30,45,214 280,65,35,637
0 0 0 0
0 0 0 0
0 0 0 0 0 0 3,82,08,344 3,39,07,456 3,06,43,529 3,82,08,344 3,39,07,456 0 0 3,82,08,344 3,39,07,456 23,66,45,337 33,69,60,438 24,85,25,208 0 0
Accumulated depreciation factory equipments Accumulated depreciation computer equipments Accumulated depreciation other equipments Accumulated depreciation equipments Accumulated depreciation furniture fixtures Accumulated depreciation vehicles [abstract] Accumulated depreciation ships vessels Accumulated depreciation aircrafts helicopters Accumulated depreciation motor vehicles Accumulated depreciation vehicles Accumulated depreciation leasehold properties [abstract] Accumulated depreciation leasehold improvements Accumulated depreciation leasehold building Accumulated depreciation leasehold plant machinery Accumulated depreciation leasehold equipments Accumulated depreciation leasehold vehicles Accumulated depreciation leasehold other assets Accumulated depreciation leasehold properties Accumulated depreciation bridges roads ports culverts Accumulated depreciation railway sidings Accumulated depreciation books periodicals Accumulated depreciation plantations Accumulated depreciation mines quarries Accumulated depreciation other fixed assets Accumulated depreciation tangible assets Accumulated amortisation on intangible [abstract] Accumulated amortisation acquired goodwill Accumulated amortisation knowhow Accumulated amortisation computer software Accumulated amortisation patents trademarks design Accumulated amortisation commercial contractual rights Accumulated amortisation licenses Accumulated amortisation development cost Accumulated amortisation other intangible assets Accumulated amortisation intangible assets Accumulated depreciation amortisation assets financial lease Accumulated depreciation amortisation Accumulated impairment [abstract] Accumulated impairment on tangible assets [abstract] Accumulated impairment land and land improvements [abstract] Accumulated impairment land [abstract] Accumulated impairment lease hold land Accumulated impairment free hold land Accumulated impairment land Accumulated impairment land improvements Accumulated impairment Land and land improvement Accumulated impairment building and building improvements [abstract] Accumulated impairment building [abstract] Accumulated impairment residential building Accumulated impairment office building Accumulated impairment factory building Accumulated impairment other building Accumulated impairment building Accumulated impairment building improvements Accumulated impairment Building and building improvements Accumulated impairment plant machinery Accumulated impairment equipments [abstract] Accumulated impairment office equipments Accumulated impairment factory equipments Accumulated impairment computer equipments
25
0 0 15,93,11,016 12,21,01,289 8,90,66,450 0 0 15,93,11,016 12,21,01,289 72,98,43,093 66,29,30,770 48,08,32,607 0 0 1,34,85,551 1,34,85,551 0 0 1,20,46,225 1,20,46,225
1,23,88,541
57,93,77,178 11,97,29,497 0 0 0 0 0 0 0 0 0 0 57,93,77,178 11,97,29,497 0 0 0 0 0 0 0 0 0 0 0 0 175,68,70,519 128,76,75,675
7,09,58,237
0 0 0 0 2,02,80,423 1,61,98,524 1,25,20,637 21,94,371 21,94,371 21,94,371 0 0 0 0 0 0 0 0 2,24,74,794 1,83,92,895 85,69,425 0 178,79,14,738 130,60,68,570 94,71,29,580
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0 0 0 13,87,331 0 0 3,35,230
0 0 0 0 0 0 0 52,47,761 0 0 0
73,23,152
Accumulated impairment other equipments Accumulated impairment equipments Accumulated impairment furniture fixtures Accumulated impairment vehicles [abstract] Accumulated impairment ships vessels Accumulated impairment aircrafts helicopters Accumulated impairment motor vehicles Accumulated impairment vehicles Accumulated impairment leasehold properties [abstract] Accumulated impairment leasehold improvements Accumulated impairment leasehold building Accumulated impairment leasehold plant machinery Accumulated impairment leasehold equipments Accumulated impairment leasehold vehicles Accumulated impairment leasehold other assets Accumulated impairment leasehold properties Accumulated impairment livestock Accumulated impairment bridges roads ports culverts Accumulated impairment railway sidings Accumulated impairment books periodicals Accumulated impairment plantations Accumulated impairment mines quarries Accumulated impairment other fixed assets Accumulated impairment tangible assets Accumulated impairment on intangible assets [abstract] Accumulated impairment acquired goodwill Accumulated impairment knowhow Accumulated impairment computer software Accumulated impairment patents trademarks design Accumulated impairment commercial contractual rights Accumulated impairment licenses Accumulated impairment development cost Accumulated impairment other intangible assets Accumulated impairment intangible assets Accumulated impairment assets financial lease Accumulated impairment Accumulated depreciation amortisation impairment Net block [abstract] Tangible assets, net [abstract] Land and land improvements, net [abstract] Land, net [abstract] Free hold land, net Land, net Land and land improvements, net Building and building improvements, net [abstract] Building, net [abstract] Other building, net Building, net Building and building improvements, net Plant machinery, net Equipments, net [abstract] Computer equipments, net Equipments, net Furniture fixtures, net Vehicles, net [abstract] Motor vehicles, net Vehicles, net Leasehold properties, net [abstract] Leasehold improvements, net Leasehold properties, net
26
0 3,35,230 16,08,783 0 0 0 0 46,25,693 0 0 0 0 0 46,25,693 0 0 0 0 0 0 0 79,57,037
0 0 89,31,825 0 0 0 0 28,30,902 0 0 0 0 0 28,30,902 0 0 0 0 0 0 0 1,70,10,488
45,17,396
8,54,614
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 79,57,037 1,70,10,488 1,26,95,162 179,58,71,775 132,30,79,058 95,98,24,742
23,85,84,543 23,85,84,543 23,85,84,543 23,85,84,543 23,85,84,543 23,85,84,543 23,85,84,543
19,11,37,946 19,11,37,946 19,11,37,946 32,08,37,134
19,92,24,572 20,24,88,499 19,92,24,572 19,92,24,572 41,23,64,901 37,06,81,723
12,58,08,018 7,31,22,148 7,84,31,213 12,58,08,018 7,31,22,148 94,34,94,040 81,39,97,019 73,75,75,366 61,84,196 61,84,196 45,85,742 45,85,742 73,86,286
106,35,98,542 30,85,75,914 20,52,09,661 106,35,98,542 30,85,75,914
Tangible assets, net Intangible assets, net [abstract] Computer software, net Intangible assets, net Assets financial lease, net Net block Additions to gross block during period [abstract] Additions to tangible assets, gross during period [abstract] Additions to plant machinery, gross during period Additions to equipments, gross during period [abstract] Additions to computer equipments, gross during period Additions to equipments, gross during period Additions to furniture fixtures, gross during period Additions to vehicles, gross during period [abstract] Additions to motor vehicles, gross during period Additions to vehicles, gross during period Additions to leasehold properties, gross during period [abstract] Additions to leasehold improvements, gross during period Additions to leasehold properties, gross during period Additions to tangible assets, gross during period Additions to intangible assets, gross during period [abstract] Additions to computer software, gross during period Additions to intangible assets, gross during period Additions to assets financial lease, gross during period Additions to, gross block during period Deductions in gross block during period [abstract] Deductions in tangible assets, gross during period [abstract] Deductions in building and building improvements, gross during period [abstract] Deductions in building, gross during period [abstract] Deductions in other building, gross during period Deductions in building, gross during period Deductions in Building and building improvements, gross during period Deductions in plant machinery, gross during period Deductions in equipments, gross during period [abstract] Deductions in computer equipments, gross during period Deductions in equipments, gross during period Deductions in furniture fixtures, gross during period Deductions in vehicles, gross during period [abstract] Deductions in motor vehicles, gross during period Deductions in vehicles, gross during period Deductions in leasehold properties, gross during period [abstract] Deductions in leasehold improvements, gross during period Deductions in leasehold properties, gross during period Deductions in tangible assets, gross during period Deductions in intangible assets, gross during period [abstract] Deductions in computer software, gross during period Deductions in intangible assets, gross during period Deductions in, gross block during period Depreciation amortisation during period [abstract] Depreciation tangible assets during period [abstract] Depreciation building and building improvements during period [abstract] Depreciation building during period [abstract] Depreciation other building during period Depreciation building during period Depreciation Building and building improvements during period Depreciation plant machinery during period Depreciation equipments during period [abstract] Depreciation computer equipments during period Depreciation equipments during period Depreciation furniture fixtures during period
27
288,96,44,419 205,04,54,839 61,84,956 95,11,317 63,53,604 61,84,956 95,11,317 10,45,99,436 0 300,04,28,811 205,99,66,156 184,67,10,895
21,78,83,607 14,65,18,394 9,26,06,688 2,81,03,077 9,26,06,688 2,81,03,077 54,25,02,517 30,52,89,979 38,51,364 38,51,364 0 0
56,35,77,514 16,55,30,971 56,35,77,514 16,55,30,971 142,04,21,690 64,54,42,421 14,51,702 68,35,600 14,51,702 68,35,600 11,31,68,861 0 153,50,42,253 65,22,78,021
37,85,738 37,85,738 37,85,738 41,35,86,905 23,75,861 23,75,861 35,34,16,215 8,13,584 8,13,584 -65,28,87,586 -65,28,87,586 12,10,90,717 6,96,164 6,96,164 12,17,86,881
0 0 0 1,84,75,377 3,77,303 3,77,303 4,23,55,734 31,42,860 31,42,860 1,14,17,170 1,14,17,170 7,57,68,444 0 0 7,57,68,444
43,31,150 43,31,150 43,31,150 7,81,18,635
38,02,382 38,02,382 38,02,382 9,47,87,203
4,17,42,230 3,31,28,828 4,17,42,230 3,31,28,828 22,29,60,323 20,04,57,053
Depreciation vehicles during period [abstract] Depreciation motor vehicles during period 22,52,910 25,99,136 Depreciation vehicles during period 22,52,910 25,99,136 Depreciation leasehold properties during period [abstract] Depreciation leasehold improvements during period 19,25,49,492 5,76,12,357 Depreciation leasehold properties during period 19,25,49,492 5,76,12,357 Depreciation tangible assets during period 54,19,54,740 39,23,86,959 Amortisation intangible assets during period [abstract] Amortisation computer software during period 41,77,604 36,77,887 Amortisation intangible assets during period 41,77,604 36,77,887 Depreciation amortisation assets financial lease during period 85,69,425 0 Depreciation amortisation during period 55,47,01,769 39,60,64,846 Deductions in depreciation amortisation during period [abstract] Deductions in depreciation tangible assets during period [abstract] Deductions in depreciation building and building improvements during period [abstract] Deductions in depreciation building during period [abstract] Deductions in depreciation other building during period 0 5,38,455 Deductions in depreciation building during period 0 5,38,455 Deductions in depreciation Building and building improvements during period 0 5,38,455 Deductions in depreciation plant machinery during period 1,69,32,799 63,51,973 Deductions in depreciation equipments during period [abstract] Deductions in depreciation computer equipments during period 49,01,176 93,989 Deductions in depreciation equipments during period 49,01,176 93,989 Deductions in depreciation furniture fixtures during period 3,22,09,956 1,83,58,891 Deductions in depreciation vehicles during period [abstract] Deductions in depreciation motor vehicles during period 8,13,584 29,41,452 Deductions in depreciation vehicles during period 8,13,584 29,41,452 Deductions in depreciation leasehold properties during period [abstract] Deductions in depreciation leasehold improvements during period 1,79,98,087 88,41,096 Deductions in depreciation leasehold properties during period 1,79,98,087 88,41,096 Deductions in depreciation tangible assets during period 7,28,55,602 3,71,25,856 Deductions in depreciation amortisation during period 7,28,55,602 3,71,25,856 Impairment during period [abstract] Impairment tangible assets during period [abstract] Impairment equipments during period [abstract] Impairment computer equipments during period 3,35,230 0 Impairment equipments during period 3,35,230 0 Impairment furniture fixtures during period 0 44,14,429 Impairment leasehold properties during period [abstract] Impairment leasehold improvements during period 17,94,791 19,76,288 Impairment leasehold properties during period 17,94,791 19,76,288 Impairment tangible assets during period 21,30,021 63,90,717 Impairment during period 21,30,021 63,90,717 Reversal of impairment during period [abstract] Reversal of impairment tangible assets during period [abstract] Reversal of impairment plant machinery during period 38,60,430 20,75,391 Reversal of impairment furniture fixtures during period 73,23,042 0 Reversal of impairment tangible assets during period 1,11,83,472 20,75,391 Reversal of impairment during period 1,11,83,472 20,75,391 Other adjustments to depreciation amortisation during period [abstract] Other adjustments to depreciation tangible assets during period [abstract] Other adjustments to depreciation building and building improvements during period [abstract] Other adjustments to depreciation building during period [abstract] Other adjustments to depreciation other building during period -30,262 0 Other adjustments to depreciation building during period -30,262 0 Other adjustments to depreciation Building and building improvements during period -30,262 0 Other adjustments to depreciation plant machinery during period -16,15,00,937 0 Other adjustments to depreciation equipments during period [abstract] Other adjustments to depreciation computer equipments during period 3,68,673 0
28
Other adjustments to depreciation equipments during period Other adjustments to depreciation furniture fixtures during period Other adjustments to depreciation leasehold properties during period [abstract] Other adjustments to depreciation leasehold improvements during period Other adjustments to depreciation leasehold properties during period Other adjustments to depreciation tangible assets during period Other adjustments to amortisation intangible assets during period [abstract] Other adjustments to amortisation computer software during period Other adjustments to amortisation intangible assets during period
3,68,673 -12,38,38,045 28,50,96,276 28,50,96,276 95,705 -95,705 -95,705
0 0 0 0 0 0 0
[100700] Schedule - Investments

31/03/2011
Investments, net [abstract] Investments, net 0
31/03/2010
0
[100800] Schedule - Sundry debtors

31/03/2011
Sundry debtors [abstract] Sundry debtors, gross [abstract] Debtors exceeding six months [abstract] Debtors considered good exceeding six months unsecured Debtors exceeding six months Debtors within six months [abstract] Debtors considered good within six months unsecured Debtors within six months Sundry debtors, gross Provision doubtful debts Sundry debtors
31/03/2010
8,07,580 8,07,580 13,63,66,589 13,63,66,589 13,71,74,169 0 13,71,74,169
45,33,149 45,33,149 5,72,02,075 5,72,02,075 6,17,35,224 0 6,17,35,224
[100900] Schedule - Cash and bank balances

31/03/2011
Cash bank balance [abstract] Cash balance hand [abstract] Cash hand Cash balance hand Bank balances [abstract] Balance scheduled banks [abstract] Balance scheduled banks current account Balance scheduled banks deposit account Balance scheduled banks unclaimed amount account Balance scheduled banks Bank balances Cash bank balance
31/03/2010
2,67,37,270 2,67,37,270
2,19,47,478 2,19,47,478
47,57,330 50,10,000 15,600 97,82,930 97,82,930 3,65,20,200
4,36,32,128 50,00,000 15,600 4,86,47,728 4,86,47,728 7,05,95,206
29
[101000] Schedule - Inventories

31/03/2011
Inventories [abstract] Inventories finished goods [abstract] Inventories finished goods traded Inventories finished goods Inventories transit Inventories packing materials Inventories
31/03/2010
516,64,86,338 516,64,86,338 8,60,37,348 5,17,91,672 530,43,15,358
306,73,91,737 306,73,91,737 10,82,31,839 98,39,523 318,54,63,099
[101100] Schedule - Other current assets

31/03/2011
Other current assets [abstract] Other receivables Other current assets 153,21,57,666 153,21,57,666
31/03/2010
125,47,39,256 125,47,39,256
[101200] Schedule - Loans and advances

31/03/2011
Loans advances [abstract] Unsecured loans advances [abstract] Unsecured loans advances given other related parties Unsecured loans advances given employees Unsecured loans advances value be received Unsecured loans advances Advance tax paid [abstract] Advance income tax paid Tax deducted at source Advance tax paid Deposit assets [abstract] Deposits with statutory authorities Deposit assets Provision for doubtful loans and advances Share loans advances joint ventures Loans advances
31/03/2010
3,47,49,699 54,51,185 31,98,98,303 36,00,99,187 8,21,03,119 9,06,34,138 17,27,37,257 30,34,07,493 30,34,07,493 21,67,81,674 0 61,94,62,263
1,54,49,317 40,80,155 24,16,88,854 26,12,18,326 2,78,56,961 7,19,03,075 9,97,60,036 21,24,18,882 21,24,18,882 12,47,98,616 0 44,85,98,628
30
[101300] Schedule - Current liabilities

31/03/2011
Current liabilities [abstract] Sundry creditors [abstract] Creditors due small micro enterprises Creditors due others Sundry creditors Unclaimed amounts [abstract] Unclaimed dividend Unclaimed amount Customer other advances [abstract] Advance received against customers Customer other advances Accrued expenses payable [abstract] Interest accrued but not due [abstract] Interest accrued but not due secured loans Interest accrued but not due Accrued expenses payable Deposit liabilities [abstract] Public deposit payable current Other current liabilities Current liabilities
31/03/2010
0 418,11,23,130 418,11,23,130 15,600 15,600 19,25,00,785 19,25,00,785
0 259,36,03,390 259,36,03,390 15,600 15,600 13,02,74,727 13,02,74,727
93,51,073 93,51,073 93,51,073 0 19,92,76,317 458,22,66,905
21,33,627 21,33,627 21,33,627 0 11,65,54,301 284,25,81,645
[101400] Schedule - Provisions

31/03/2011
Provisions [abstract] Provision employees related liabilities [abstract] Provision gratuity Provision leave encashment Provision employees related liabilities Other provisions Provisions
31/03/2010
2,47,38,392 4,33,84,362 6,81,22,754 31,71,11,386 38,52,34,140
82,31,051 2,18,76,351 3,01,07,402 19,77,74,846 22,78,82,248
[101500] Schedule - Miscellaneous Expenditure Not Written Off

31/03/2011
Miscellaneous expenditure not written off [abstract] Miscellaneous expenditure not written off 0
31/03/2010
0
31
[101600] Additional Details - Balance Sheet

01/04/2010 to 31/03/2011
Additional information relating to balance sheet items Additional information regarding share capital [abstract] Details of share capital held by foreign companies Percentage of share capital held by foreign company Value of share capital held by foreign company Breakup of equity capital [abstract] Percentage of equity shares held up by other body corporates Percentage of equity shares held up by directors and related parties Percentage of equity shares held up by others Details of deposits [abstract] Deposits accepted or renewed during period Deposits matured and claimed but not paid during period Deposits matured and claimed but not paid Interest on deposits accrued and due but not paid Unpaid dividend
01/04/2009 to 31/03/2010
46.63% 52,24,61,800 46.63% 47.56% 5.81% 0 0 0 0 15,600
50.05% 52,24,61,800 50.05% 45.11% 4.84% 0 0 0 0 15,600
[400100] Notes - Accounting policies and basis of presentation

01/04/2010 to 31/03/2011
Disclosure of accounting policies and basis of presentation [text block] Disclosure of basis of presentation [text block] Textual information (16) [See below] Textual information (17) [See below]
32

Disclosure of accounting policies and basis of presentation [text block]
. Significant accounting policies
i)
Basis of preparation of financial statements
The Financial Statements are prepared to comply in all material aspects with all the applicable accounting principles in India, the applicable accounting standards notified under section 211(3C) of the Companies Act, 1956 and the relevant provisions of the Companies Act, 1956.
ii)
Use of estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the period reported. Actual results could differ from those estimates; a revision to accounting estimates is recognized prospectively in the current and future periods.
iii) Fixed assets Fixed assets (both tangible and intangible) are stated at cost less accumulated depreciation / amortization. Cost includes direct expenses and other expenses incurred in bringing the assets to their present location and working condition and includes all expenses incurred up to the date of launching new stores, to the extent they are attributable to the new store. Depreciation / Amortization Depreciation on fixed assets is provided on a pro-rata basis using the straight line method of depreciation, on the basis of useful life estimate by the management, at the following rate, which are equal to or are higher than the rates specified in Schedule XIV to the Companies Act, 1956:
Based on useful life of assets as estimated by management, effective annual rates at which depreciation is provided are as follows:
Asset category
Annual depreciation rate
Buildings
1.67 %
Plant and Machinery
10 % - 16.67 %
Furniture and Fittings
12.5% - 16.67 %
Computers
20 %
Vehicles
20 %
Cost of leasehold improvements is amortized over the primary period of lease. However, in cases where the company as a lessee has the right of renewal of lease / alternatively it has intentions to renew for further period, then the cost of such leasehold improvements is amortized over such extended period, not exceeding seven/eight years as per the store categorization
33
Operating software are capitalized along with the related fixed assets while application software are capitalized and fully depreciated in the year of purchase, except for major application software which are amortized over higher of 3 years or their useful life, as determined by the management. Assets individually costing Rs.5,000 or less are depreciated at 100% in the year of purchase.
Assets that are taken on finance lease, where there is reasonable certainty of obtaining ownership by the end of the lease term, the period of expected use is the useful life of the asset; otherwise the asset is depreciated over the lease term or its useful life, whichever is shorter. iv) Revenue recognition
Revenue from retail merchandise is recognized when it is earned and no significant uncertainty exists as to its realization or collection.
Retail sales for third party merchandise where there is an agreement / arrangement to buy based on sales, both retail sale and cost are recognized once a customer decides to purchase the items from concession stores. Sales are net of discounts, sales tax and value added tax.
Commission Income is recognized based on customer arrangements / contractual obligations.
Revenue from store displays and sponsorships are recognized based on the period for which the products or the sponsors advertisements are promoted / displayed. Other retail incomes are recognized pro-rata over the period of the contract / based on contractual obligation.
Revenue from gift vouchers and point award scheme operated by the company are recognized when gift vouchers or points are redeemed / merchandise sold to the customer.
v)
Inventories
Retail merchandise are valued at the lower of cost and net realizable value. Cost of Merchandise comprises of all costs of purchase and other costs incurred in bringing the Merchandise to their present condition and location. Cost is determined by the weighted average cost method.
Retail merchandise received under consignment arrangements are excluded from the Companys Merchandise.
Provision for obsolescence is made wherever considered necessary based on the age of the Merchandise.
Inventory includes retail merchandise received on Right to Return basis and are accounted as stock of the Company.
vi)
Borrowing costs
Borrowing cost and other costs attributable to the acquisition or construction of a qualifying asset is capitalized as part of the cost of that asset in the year in which the asset is up to use. Other borrowing costs are recognized as an expense in the period in which they are incurred.
vii)
Leases
A lease is classified as an Operating Lease, if it does not transfer substantially all the risks and rewards incident to ownership. Lease rentals are charged to Profit and Loss Account on straight-line basis over the lease term, which is representative of time pattern of the users benefit.
34
Assets acquired under lease where the Company has substantially all the risk and rewards of ownership are classified as finance leases. Such leases are capitalized at the inception of lease at lower of the fair value and present value of minimum lease payments.
viii)
Foreign currency transactions
Foreign currency transactions are recorded at the rates of exchange prevailing on the dates of the transactions. At the year end all monetary foreign assets and liabilities are restated at the rates ruling at the year end and all exchange gains / losses arising there from are adjusted to the Profit and Loss Account, except those covered by forward contracted rates where the premium or discount arising at the inception of such forward exchange contract is amortized as expense or income over the life of the contract.
Exchange differences on forward contracts are recognized in the Profit and Loss Account in the reporting period in which the exchange rates change. Any profit or loss arising on cancellation or renewal of such forward contracts is recognized as income or expense for the year.
ix)
Employee Benefits
Defined Contribution Plans : Contribution to Provident Fund are made at pre-determined rates and charged to Profit and Loss Account. These contribution are made to government administered Provident Fund. Defined Benefit Plans Gratuity Liability is accrued in the books based on actuarial valuation as at Balance Sheet date. Actuarial gains or losses are recognized immediately in the Profit and Loss Account. Other Long Term Employee Benefits: Leave Encashment liability is accrued in the books based on actuarial valuation as at Balance Sheet date. Actuarial gains or losses are recognized immediately in the Profit and Loss Account. Short Term : Liability of compensated absences, performance incentives etc. are recognized during the period when the employee renders the services.
x)
Taxes on Income
Taxes on income for the current year are determined on the basis of provisions of Income Tax Act, 1961.
Deferred Tax is recognized on timing differences between the accounting income and the taxable income for the year and quantified using the tax rates and laws enacted or substantively enacted as on the Balance Sheet date.
Deferred Tax assets are recognized and carried forward to the extent that there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax asset can be realized.
xi) Provisions Provisions are recognized when the company has a present obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation, and a reliable estimate of the amount can be made. Where the company expects a provision to be reimbursed, the reimbursement is recognized as a separate asset but only when reimbursement is virtually certain.
35
xii) Impairment At the Balance Sheet date the company assesses whether there is any indication that an asset may be materially impaired. If such an indication exists, the company estimates the recoverable amount. If the carrying amount of the asset exceeds its recoverable amount, an impairment loss is recognised in the Profit and Loss Account to the extent carrying amount exceeds the recoverable amount.
xiii)
Stock based compensation
The Company measures the compensation cost relating to employee stock options using the fair value method. The compensation cost is amortized over the vesting period of the option.
xiv)
Earnings per Share
Basic and diluted earnings per equity share is arrived at based on net profit / (loss) after taxation to the basic/weighted average number of equity shares.

Disclosure of basis of presentation [text block]
1) Background Lifestyle International Private Limited (the Company) was incorporated in November 24, 1997 as a Private Limited Company under the Companies Act, 1956. The Company is in the retailing business and operates stores across India under the names Lifestyle and Max.
36
[400800] Notes - Employee Benefits

01/04/2010 01/04/2009 to to 31/03/2011 31/03/2010

Disclosure of employee benefits [text block] Details of present value defined benefit plan obligation Changes in present value defined benefit plan obligation Current service cost defined benefit plan obligation Interest cost defined benefit plan obligation Contributions paid defined benefit plan obligation Actuarial gains losses defined benefit plan obligation Reconciliation of fair value of plan assets and of balances of reimbursement right recognized as asset Expected return defined benefit plan assets Actuarial gain loss defined benefit plan assets Contributions by employer defined benefit plan assets Contributions paid defined benefit plan assets Principal actuarial assumptions used in defined benefit plan Discount rates used for principal actuarial assumption Expected return plan assets Amount for current annual period previous four annual periods Present value of defined benefit obligation Fair value of defined benefit plan assets Surplus deficit of defined benefit plan
1,68,02,435 19,30,092 -65,183 -15,29,630 12,98,333 1,93,548 6,68,122 -15,29,630 8.00% 0.08
60,43,529 18,82,969 -13,01,595 -59,21,846 10,33,577 5,22,803 56,69,235 -13,01,595
4,20,28,680 2,48,90,966 -1,72,90,288 -1,66,59,915 -2,47,38,392 -82,31,051
[400900] Notes - Segment Reporting

01/04/2010 to 31/03/2011
Disclosure of segment information [text block] Disclosure of entity's reportable segments [abstract] Factors used to identify entitys reportable segments
Textual information (18) [See below]

Factors used to identify entitys reportable segments
The Companys business operations are classified into two segments Lifestyle retailing and Max-value retailing - based on its parameters for internal reporting and evaluation of related risks and returns, and accordingly, these businesses constitute its primary segments.
37
01/04/2010 to 31/03/2011 Details of primary segments

1
Name of primary reportable segment Revenues from external customers Revenues from transactions with other operating segments of same entity Revenues from segment Interest income from segment Interest expense attributable to segment Depreciation and amortisation expense attributable to segment Other material items of income expense attributable to segment Other material non-cash items attributable to segment Profit loss before extraordinary items attributable to segment Extraordinary items attributable to segment Provision for taxation attributable to segment Profit loss attributable to segment Assets attributable to segment Additions to non-current assets attributable to segment Liabilities attributable to segment MAX Retailing 0 0 324,75,30,146 0 0 10,32,19,330 0 1,47,15,391 4,48,90,054 0 0 0 137,22,29,234 38,09,53,892 131,50,70,366
2
Lifestyle Retailing 0 0 1,554,46,60,726 0 0 44,24,28,988 0 6,69,91,412 58,42,08,165 0 0 0 955,02,41,743 117,38,43,936 567,19,82,083
01/04/2009 to 31/03/2010 Details of primary segments

1
Name of primary reportable segment Revenues from external customers Revenues from transactions with other operating segments of same entity Revenues from segment Interest income from segment Interest expense attributable to segment Depreciation and amortisation expense attributable to segment Other material items of income expense attributable to segment Other material non-cash items attributable to segment Profit loss before extraordinary items attributable to segment Extraordinary items attributable to segment Provision for taxation attributable to segment Profit loss attributable to segment Assets attributable to segment Additions to non-current assets attributable to segment Liabilities attributable to segment MAX Retailing 0 0 168,48,20,053 0 0 6,91,23,472 0 1,92,80,154 -10,87,93,984 0 0 0 94,38,73,864 5,75,81,336 89,72,93,325
2
Lifestyle Retailing 0 0 1,039,58,74,661 0 0 27,21,65,049 0 2,60,41,736 16,16,97,766 0 0 0 627,20,94,361 64,64,32,753 376,26,99,712
[401100] Notes - Leases

01/04/2010 to 31/03/2011
Disclosure of leases [text block] Textual information (19) [See below]
38

Disclosure of leases [text block]
Disclosure of leasing arrangements: a. The Company takes immovable properties for its offices premises, retail stores and warehouses under operating lease agreements. These agreements are renewable on a periodic basis at the option of both the lessor and lessee. The initial tenure of the lease is generally for one year to fifteen year, which are cancellable after a period of 1 year to 5 years. The minimum rental payments under the operating leases under non-cancellable lease term as at March 31, 2011is as under : (Amount in Rupees)
Particulars
2011
2010
Lease rentals recognized in the statement of profit and loss during the year
1,530,515,867
1,117,124,101
Future minimum lease obligation under non-cancelable operating agreements:
Not later than 1 year
817,037,126
575,658,559
Later than 1 year and not later than 5 years
1,305,528,824
1,298,784,729
Later than 5 years
Future minimum payments under operating agreements
2,122,565,950
1,874,443,288
b. The Company has acquired on finance lease an equipment. The lease agreement is for a primary period of 36 months and the Company has an option to renew for a secondary period. Equipment lease agreement provides for revision in lease rental in the event of change in (i) taxes, if any, leviable on lease rentals and (ii) change in the Income Tax Act, 1961. The minimum lease payments and their present value, for each of the following periods are as follows: (Amount in Rupees)
Particulars
31 March 2011
31 March 2010
Minimum lease payments
Present value of minimum lease payments
Minimum lease payments
Present value of minimum lease payments
Not later than 1 year
41,640,712
36,474,367
Later than 1 year and not later than 5 years
68,201,762
50,018,736
Later than 5 years
109,842,474
86,493,103
39
[401200] Notes - Earnings Per Share

01/04/2010 to 31/03/2011
Disclosure of earnings per share [text block] Textual information (20) [See below]

Disclosure of earnings per share [text block]
8) Earnings per share (EPS) (Amount in Rupees)
Particulars
2011
2010
Net (Loss) / Profit for the year
697,501,129
(166,774,441)
Weighted average number of shares outstanding - for basic
108,506,917
95,030,318
Weighted average number of shares outstanding - for diluted
108,706,917
95,030,318
Nominal value per share Rs
10
10
Earnings per share Basic
6.43
(1.75)
Earnings per share Diluted
6.42
(1.75)
Note: During the previous year the company had granted certain Stock options to some executives of the company. As of the year end no adjustment has been made to the EPS computation for the unexercised options.
[401400] Notes - Deferred Tax Assets and Liabilities

01/04/2010 to 31/03/2011
Disclosures of deferred tax assets and liabilities [text block] Deferred tax asset [abstract] Deferred tax asset Textual information (21) [See below] 32,19,69,700
31/03/2010
40

Disclosures of deferred tax assets and liabilities [text block]
Deferred Taxation
Deferred tax asset aggregating to Rs. 321,969,700 (2010: Nil) has been accounted for in the books as at March 31, 2011, based on explanations to Accounting Standards 22 as notified under Companies (Accounting Standards) Rules, 2006.
(Amount in Rupees)
Particulars
2011
2010
Deferred tax assets arising from :
Difference between carrying amount of fixed assets in the financials statement and the Income Tax Returns
(89,963,039)
Expenses charged in the financials statements but allowable as deduction in future years under the Income Tax Act, 1961
(116,414,193) -
Loss on account of unabsorbed depreciation
(115,592,468) -
Net Deferred Tax (Asset) / Liability
(321,969,700) -
[401410] Notes - Net Deferred Tax Assets

31/03/2011
Net deferred tax assets [abstract] Deferred tax asset Net deferred tax asset 32,19,69,700 32,19,69,700
31/03/2010
0 0
41
[401420] Notes - Net Deferred Tax Liabilities

31/03/2011
Net deferred tax liabilities [abstract] Deferred tax asset 32,19,69,700
31/03/2010
0
[401900] Notes - Impairment of Assets

01/04/2010 to 31/03/2011
Disclosure of impairment of assets [text block] Impairment loss recognized in profit and loss for primary segment Reversal of impairment loss recognized in profit and loss for primary segment Textual information (22) [See below] 0 90,53,451
01/04/2009 to 31/03/2010
43,15,326 0

Disclosure of impairment of assets [text block]
In accordance with the Accounting Standard on Impairment of Assets (AS 28), the company has carried out impairment evaluation, based on the results of the said evaluation the management has recognised a gain of Rs. 9,053,451 (Impairment Loss 2010: 4,315,326 (net of write back)) in the profit and loss account. As on March 31, 2011, the company is carrying a total impairment provision of Rs. 7,957,037 detail of which are given below: (Amount in Rupees)
Assets
2011
2010
Furnitures and Fittings
1,608,783
8,931,825
Lease Hold Improvements
4,625,693
2,830,902
Plant and Machinery
1,387,331
5,247,761
Computers
335,230
7,957,037
17,010,488
42
[402000] Notes - Provisions and Contingencies

01/04/2010 to 31/03/2011
Disclosure of contingent liabilities and provisions [text block] Disclosure of provisions [text block] Textual information (23) [See below]

Disclosure of provisions [text block]
In accordance with AS 29 Provisions, Contingent Liabilities and Contingent Assets, as notified under Companies (Accounting Standard) Rules, 2006, certain classes of liabilities have been identified as provision which have been disclosed as under: (Amount in Rupees)
Redemption/ Particulars 2010 Additions Adjustments 2011
Rs.
Rs.
Rs.
Rs.
Reward Points (Refer note (a))
50,076,337
112,036,702
111,676,232
50,436,80 7
Lease Obligation (Refer note(b))
147,698,509
118,976,069
266,674,578
197,774,846
231,012,771
111,676,232
317,111,385
a) The above represents reward points accrual provisions, made for probable liabilities arising out of commercial transactions with customers, the redemption/settlement of which is not expected to exceed 1-2 years. Further disclosures as required in AS 29 are not made since it can be prejudicial to the interests of the company. b) The above amount represents provision made for probable liability / claims arising out of commercial agreement/arrangements with third parties. Further disclosure as required in AS 29 is not made since it can be prejudicial to the interest of the company
43
[402300] Notes - Directors Remuneration and Other Information

01/04/2010 to 31/03/2011 Details of directors
1
Name of director Director identification number of director Date of birth of director Designation of director Qualification of director Shares held by director Director remuneration [abstract] Total salary to director Basic pay director Director remuneration
KABIR LUMBA VASANTH M KUMAR 00181791 00318913 16/08/1968 23/07/1961 MANAGING DIRECTOR EXECUTIVE DIRECTOR B Com Mtech MBA [shares] 30,000 [shares] 20,000 1,61,13,381 1,61,13,381 1,61,13,381 1,35,33,983 1,35,33,983 1,35,33,983
[402400] Notes - Auditors Remuneration

01/04/2010 to 31/03/2011
Auditors remuneration [abstract] Audit fees Consultancy fees auditors [abstract] Tax consultancy fees Consultancy fees auditors Certification fees Reimbursement auditors expenses Auditors remuneration 30,00,000 2,00,000 2,00,000 9,16,000 2,08,000 43,24,000
01/04/2009 to 31/03/2010
22,00,000 2,00,000 2,00,000 9,55,000 1,53,068 35,08,068
44

Lifestyle International (India) Financials 2011

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Lifestyle International (India) Financials 2011

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LIFE STYLE INTERNATIONAL PRIVATE LIMITED

Standalone Balance Sheet for period 01/04/2010 to 31/03/2011

[610000] General information about financial statements

[630000] Disclosures - Directors report

Textual information (1)

To The Members Lifestyle International Private Limited

31st March 2011

31st March 2010

Gross Retail Turnover

Other Retail Operating Income

Less : Value Added Tax

Less : Cost of Consignment

Profit / (Loss) before Depreciation / Impairment

Less : Depreciation / Impairment

Profit / (Loss) before Tax

Less : Provision for Taxation

Profit / (Loss) after Taxation

Add: Profit / (Loss) brought forward from previous year

Profit / (Loss) adjusted against Security Premium

Profit / (Loss) carried to Balance Sheet

EMPLOYEE STOCK OPTION PLAN:

For and on behalf of the Board of Directors

Date: 6th June 2011

Chandrasekaran President South and 44 S Western Operations

Deputy General ManagerShoemart LLC UAE

Chief Operating Officer- Proline India Ltd

President - Retail Operations

Retail Manager - Landmark Group - Dubai

President - Group Finance 6356640 & Corporate Affairs

BSC, CA, ICWA

Deputy General Manager Business Development, Landmark -UAE

Vasanth Kumar 50 Executive Director M

BE MTECH 19 years DBM

Vice President - Madura Garments

01/04/2010 to 31/03/2011 Details of directors signing board report

[620000] Disclosures - Auditors report

Textual information (2)

To the Members of Lifestyle International Private Limited

Textual information (3)

Textual information (4)

Textual information (5)

Textual information (6)

Textual information (7)

Textual information (8)

Textual information (9)

Textual information (10)

Textual information (11)

Textual information (12)

Textual information (13)

Textual information (14)

Textual information (15)

01/04/2010 to 31/03/2011 Details regarding auditors

[100000] Sources and Application of Funds

112,04,90,300 179,01,23,166 291,06,13,466 126 0 126 334,98,86,650 10,02,00,028 345,00,86,678 636,07,00,270

104,37,85,200 89,65,30,163 194,03,15,363 126 3,73,12,500 3,73,12,626 226,76,36,379 0 226,76,36,379 424,52,64,368

479,63,00,586 178,79,14,738 79,57,037 179,58,71,775 300,04,28,811 37,61,73,148 337,66,01,959 0 32,19,69,700

338,30,45,214 130,60,68,570 1,70,10,488 132,30,79,058 205,99,66,156 23,46,30,692 229,45,96,848 0 0

280,65,35,637 94,71,29,580 1,26,95,162 95,98,24,742 184,67,10,895

[640000] Disclosures - Signatories of balance sheet

S JAGADISHA RAO AEMPR3380J 06/06/2011

01/04/2010 to 31/03/2011 Details of directors signing balance sheet

[300000] Statement of Cash Flow, Indirect Method

142,67,94,871 142,67,94,871 14,15,42,456 27,74,18,410 1,64,54,746 1,64,54,746 -182,93,00,991