MIRA INFORM REPORT

. Summary Information

		Country	ndia
Company Name	RUCHI SOYA INDUSTRIES LIMITED	Principal Name 1	Mr. Kailashchandra Shahra
Status	Good	Principal Name 2	Mr. Dinesh Chandra Shahra
		Registration #	11-038536
Street Address	614, Tulsiani Chambers, Nariman Point, Mumbai – 400021, Maharashtra, India
Established Date	06.01.1986	SIC Code	--
Telephone#	91-22-66560600	Business Style 1	Manufacturing
Fax #	91-22-22837525	Business Style 2	--
Homepage	http://www.ruchisoya.com	Product Name 1	Soya Bean Oil Edible Grade
# of employees	1500 (Approximately)	Product Name 2	Vegetable Oils and Fats
Paid up capital	Rs.686,717,000/-	Product Name 3	--
Shareholders	Promoters and Promoters 54.77 % Public 45.23%	Banking	Axis Bank Limited
Public Limited Corp.	YES	Business Period	27 Years
IPO	YES	International Ins.	-
Public Enterprise	YES	Rating	Ba (54)
Related Company
Relation	Country	Company Name	CEO
Associates	--	GHI Energy Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	62,318,528,000	Current Liabilities	56,188,479,000
Inventories	36,602,026,000	Long-term Liabilities	45,871,059,000
Fixed Assets	23,449,920,000	Other Liabilities	2,715,654,000
Deferred Assets	0,000	Total Liabilities	104,775,192,000
Invest& other Assets	4472,912,000	Retained Earnings	21381,477,000
		Net Worth	22068,194,000
Total Assets	126,843,386,000	Total Liab. & Equity	126,843,386,000
Total Assets (Previous Year)	95,509,074,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	259,964,526,000	Net Profit	1,223,147
Sales(Previous yr)	166,268,001,000	Net Profit(Prev.yr)	2,132,086

MIRA INFORM REPORT

Report Date :

30.07.2013

IDENTIFICATION DETAILS

Name :	RUCHI SOYA INDUSTRIES LIMITED

Registered Office :	614, Tulsiani Chambers, Nariman Point, Mumbai – 400021, Maharashtra

Country :	India

Financials (as on) :	31.03.2012

Date of Incorporation :	06.01.1986

Com. Reg. No.:	11-038536

Capital Investment / Paid-up Capital :	Rs.686.717 Millions

CIN No.: [Company Identification No.]	L15140MH1986PLC038536

TAN No.: [Tax Deduction & Collection Account No.]	MUMR14074E BPLR03207B

PAN No.: [Permanent Account No.]	AAACR28921

Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on The Stock Exchange.

Line of Business :	Manufacturing of Soya Bean Oil Edible Grade, Meal of Soya Bean and Other Vegetable Oils and Fats.

No. of Employees :	1500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 88270000

Status :	Good

Payment Behaviour :	Regular

Litigation :	Clear

Comments :	Subject is a well established and reputed company having fine track record. Even though the company has recorded some growth in its sales turnover during 2012, there appears some dip in the profitability. However, financial position of the company appears to be sound. Directors are reported to be experienced and respectable businessman. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual trade terms and condition.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long Term Bank Facilities : A-
Rating Explanation	Adequate degree of safety and low credit risk.
Date	10.10.2012

Rating Agency Name	CARE
Rating	Short Term Bank Facilities : A2+
Rating Explanation	Strong degree of safety and low credit risk.
Date	10.10.2012

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	614, Tulsiani Chambers, 2^nd Floor, Backbay Reclamation, Nariman Point, Mumbai - 400 021, Maharashtra, India.
Tel. No.:	91-22-66560600
Fax No.:	91-22-22837525
E-Mail :	amrita_shahra@ruchigroup.com snehhal@ipan.com rl_gupta@ruchigroup.com
Website :	http://www.ruchisoya.com
Area :	500 Sq. ft. (Approximately)
Location:	Owned

Head /Administrative Office :	301 Mahakosh House, 7/5 South Tukoganj,Nath Mandir Road, Indore - 452 001, Madhya Pradesh, India.
Tel. No.:	91-731-2513281 / 282 / 283
Fax No.:	91-731-4065019 / 2527250

Factory 1 :	Survey No.217/1, Village Mityhirohar, Taluka Gandhidham, Kutch, Gandhidham – 370201, Gujarat, India
Tel No.:	91-2836-645672/73
Fax No.:	91-2836-286509/286473

Factory 2 :	Mangliagaon, A. B. Road, Indore, Madhya Pradesh, India

Factory 3 :	Baikampady Industrial Area, Mangalore, Karnataka, India

Factory 4 :	Village Esambe, Taluka Khalapur, District Raigad, Maharashtra, India

Factory 5 :	Bijoyramchak, Ward No. 9, P.O. Durgachak, Haldia, West Bengal, India

Factory 6 :	Village Butibori, Tehsil Nagpur, Maharashtra, India

Factory 7 :	Akodia Road, Industrial Area, Shujalpur, District Shajapur, Madhya Pradesh, India

Factory 8 :	Village Kamati, Gadarwada, District Narsinghpur, Madhya Pradesh, India

Factory 9 :	Gram Mithi Rohar, Taluka Gandhidham, District Bhuj, Gujarat, India

Factory 10 :	Kannigaiper Village, Uthukottai Taluk, Thiruvallur District Tamilnadu, India

Factory 11 :	RIICO Udyog Vihar, Sriganganagar, Rajasthan, India

Factory 12 :	RIICO Industrial Area, Govindpur Bawari, Post Talera District, Bundi, Rajasthan, India

Factory 13 :	Kusmoda, A.B. Road, Guna, Madhya Pradesh, India

Factory 14 :	Kota Road, Baran, Rajasthan, India

Factory 15 :	Rani Piparia, District Hoshangabad, Madhya Pradesh, India

Factory 16 :	SIDCO Industrial Estate, Bari Brahmana, Jammu and Kashmir, India

Factory 17 :	Village Daloda, District Mandsaur, Madhya Pradesh, India

Factory 18 :	Survey No. 178, Surkandi Road, Washim, Maharashtra, India

Factory 19 :	Bapulapadu Mandal, Ampapuram Village, Krishna District, Vijaywada, Andhra Pradesh, India

Factory 20 :	IDA, ADB Road, Peddapuram, East Godawari District, Andhra Pradesh, India

DIRECTORS

As on: 25.09.2012

Name :	Mr. Kailashchandra Shahra
Designation :	Director
Address :	29, Old Palasia, A. B. Road, Indore – 452001, Madhya Pradesh, India
Date of Birth/Age :	31.03.1938
Date of Appointment :	07.01.1986
DIN No.:	00062698

Name :	Mr. Dinesh Chandra Shahra
Designation :	Managing Director
Address :	Sharda Building, Flat No. 2A, Road, Churchgate, Mumbai – 400020, Maharashtra, India
Date of Birth/Age :	14.07.1952
Qualification :	B. E. (Chemical Engineer)
Date of Appointment :	07.01.1986
DIN No.:	00533055

Name :	Mr. Sajeve Deora
Designation :	Director
Address :	EC-13, Inderpuri, New Delhi – 110012, India
Date of Birth/Age :	27.12.1959
Date of Appointment :	27.122005
DIN No.:	00003305

Name :	Mr. Prabhu Dayal Dwivedi
Designation :	Director
Address :	34 / 513, Pratap Nagar, Sector No 3, Sanganer, Jaipur – 302203, Rajasthan, India
Date of Birth/Age :	30.01.1941
Date of Appointment :	31.03.2008
DIN No.:	02114285

Name :	Mr. Ashutosh Bhailal Rao
Designation :	Whole-Time Director
Address :	Scheme No. 98, Flat No. 203, Sanwad Nagar, Indore – 452001, Madhya Pradesh, India
Date of Birth/Age :	01.04.1958
Date of Appointment :	01.06.2004
DIN No.:	00463278

Name :	Mr. Murugan Navamani
Designation :	Director
Address :	No 2 CP, Ramasamy Road, Alwarpet Chennai – 600018, Tamilnadu, India
Date of Birth/Age :	24.05.1946
Date of Appointment :	27.07.2009
DIN No.:	01309393

Name :	Mr. Vijay Kumar Jain
Designation :	Whole-Time Director
Address :	C-119, Ground Floor, Sun City Sector – 54, Gurgaon – 122002, Haryana, India
Date of Birth/Age :	03.10.1957
Date of Appointment :	27.07.2009
DIN No.:	00098298

Name :	Mr. Sanjeev Kumar Asthana
Designation :	Director
Address :	363, Espace, Nirvana Country, South City Ii, Gurgaon – 122018, Haryana, India
Date of Birth/Age :	19.10.1964
Date of Appointment :	28.08.2010
DIN No.:	00048958

Name :	Mr. Navin Khandelwal
Designation :	Director
Address :	5/1, Saket, Nagar, Indore – 452018, Madhya Pradesh, India
Date of Birth/Age :	22.04.1973
Date of Appointment :	18.12.2009
DIN No.:	00134217

KEY EXECUTIVES

Name :	Mr. Ramji Lal Gupta
Designation :	Company Secretary
Address :	8, Regency Priya Darshani, Khajrana Circle, Indore – 452001, Madhya Pradesh, India
Date of Birth/Age :	10.06.1962
Date of Appointment :	01.12.1993
Pan No.:	AENPG4648H

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.06.2013

Category of Shareholder

No. of Shares

% of No. of Shares

(A) Shareholding of Promoter and Promoter Group

(1) Indian

Individuals / Hindu Undivided Family

103593504

31.01

Bodies Corporate

79347245

23.75

Sub Total

182940749

54.77

(2) Foreign

Total shareholding of Promoter and Promoter Group (A)

182940749

54.77

(B) Public Shareholding

(1) Institutions

Mutual Funds / UTI

34579

0.01

Financial Institutions / Banks

440553

0.13

Foreign Institutional Investors

51797508

15.51

Sub Total

52272640

15.65

(2) Non-Institutions

Bodies Corporate

83707532

25.06

Individuals

Individual shareholders holding nominal share capital up to Rs. 0.100 Million

11901848

3.56

Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million

3193728

0.96

Any Others (Specify)

29925

0.01

Clearing Members

29925

0.01

Sub Total

98833033

29.59

Total Public shareholding (B)

151105673

45.23

Total (A)+(B)

334046422

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0.00

(1) Promoter and Promoter Group

0.00

(2) Public

0.00

Sub Total

0.00

Total (A)+(B)+(C)

334046422

0.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Soya bean Oil Edible Grade, Meal of Soya Bean and Other Vegetable Oils and Fats.

Products :

Product Description	Item Code No.
Soya bean Oil Edible Grade	15079000.10
Meal of Soya Bean	230400.03
Other Vegetable Oil and Fats	151800.09

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS AS ON 31.03.2011

Particulars	31.03.2011 Quantity (M.T.)
INSTALLED CAPACITY (On three shift basis)
Textured Soya Proteins	152000
Edible Soya Flour (Soya Protein)	60000
Soyabean Extraction	3308724
Oils (including lecithin)	2271000
Vanaspati	469500
Power Generation (in MW)	76
Palm Crushing	518400
Toilet Soap	33600
Soap Noodles	42000
Split Fatty Acid	35000
Glycerine	2250

PRODUCTION
Textured Soya Proteins/ Flour	171733.903
Realisable by-products	390918.699
Seed Extractions (DOC)	1549222.447
Oils	1943022.499
Vanaspati	170138.405
Milk	--
Power Generation (Number of Units)	112058160
Seedling (Number of Units)	521405

GENERAL INFORMATION

Customers :

Wholesalers
Retailers
End Users

No. of Employees :

1500 (Approximately)

Bankers :

Axis Bank Limited
Bank of Baroda
Bank of India
Central Bank of India
Corporation Bank
Dena Bank
ICICI Bank Limited
IDBI Bank Limited
Oriental Bank of Commerce
Punjab National Bank
State Bank of Bikaner and Jaipur
State Bank of Hyderabad
State Bank of India
State Bank of Mysore
State Bank of Patiala
State Bank of Travancore
Syndicate Bank
The Karur Vysya Bank Limited
UCO Bank

Facilities :

Secured Loan

Rs. In Millions

31.03.2012

Rs. In Millions

31.03.2011

Term Loans from Banks

- Rupee Loans

1928.164

1862.769

- Foreign Currency Loans

5558.359

4403.705

Short Term Loan from Banks

1261.735

0.000

Working Capital Loans from banks

5010.271

5222.320

TOTAL

13758.529

11488.794

Notes :

LONG TERM BORROWINGS

Nature of Security and terms of repayment for secured borrowings

Name of the lender	Rate of Interest	Nature of Security	Terms of Repayment
Term loan from IDBI Bank amounting to Rs. 85.600 Millions (March 31, 2011: Rs. 306.400 Millions	BBR+2.5% p.a.	Secured by a first pari passu charge over the fixed assets, both present and future, located at Washim unit (Maharashtra) of the Company.	Repayable in 60 monthly installments (commenced from December, 2010) of sanctioned amount of Rs. 1100.000 Millions .
Term loan from IDBI Bank amounting to Rs. 788.889 Millions (March 31, 2011: Rs. 900.000 Millions)	BBR+3.5% p.a.	Secured by a first pari passu charge over all the fixed assets, both present and future, located at Haldia unit/s (West Bengal), Patalganga and Nagpur unit/s (Maharashtra) of the Company together with first exclusive charge on the entire fixed assets, both present and future, located at Washim unit (Maharashtra) of the Company.	Repayable in 18 equal quarterly installments (commenced from September, 2011) of sanctioned amount of Rs. 1000.000 Millions
Term loan from EXIM Bank amounting to Rs. 57.143 Millions (March 31, 2011: Rs. 114.286 Millions)	LTMLR+2.20% p.a.	Secured by a first pari passu charge over the fixed assets, both present and future, located at Manglia unit (Madhya Pradesh) of the Company, and first charge over the properties, both present and future, located at Jaora (Madhya Pradesh), Dhule (Maharashtra) and Coimbatore (Tamilnadu), wind farm locations of the Company, having total capacity of 7.4 MW.	Repayable in 21 equal quarterly installments (commenced from March, 2008) of sanctioned amount of Rs. 300.000 Millions .
Foreign Currency Term loan from EXIM Bank amounting to Rs. 89.932 Millions (March 31, 2011: Rs. 141.430 Millions )	LIBOR 6 Months + 500 BPS p.a.	Secured by a first pari passu charge over the fixed assets, both present and future, located at Manglia unit (Madhya Pradesh) of the Company, and first charge over the properties, both present and future, located at Jaora (Madhya Pradesh), Dhule (Maharashtra) and Coimbatore (Tamilnadu), wind farm locations of the Company, having total capacity of 7.4 MW.	Repayable in 21 equal quarterly installments (commenced from June, 2008) of sanctioned amount of Rs. 300.000 Millions .
Term loan from State Bank of India amounting to Rs. 368.636 Millions (March 31, 2011: Rs. 560.667 Millions )	BBR + 4% p.a.	Secured by a first exclusive charge over the fixed assets, both present and future, located at Palsodi (Madhya Pradesh) Wind farm location of the Company, having total capacity of 22.5 MW.	Repayable in 20 equal quarterly installments (commenced from June, 2009) of sanctioned amount of Rs. 950.000 Millions .
Corporate Loan I from State Bank of India amounting to Rs. 508.127 Millions (March 31, 2011: Rs. 1259.583 Millions)	BBR + 4.25% p.a.	Secured by a first exclusive charge over the fixed assets, both present and future, located at Kota (Rajasthan), Chennai (Tamilnadu) and Shriganganagar unit (Rajasthan) of the Company and first pari passu charge over the fixed assets, both present and future, located at Haldia (West Bengal), Patalganga and Nagpur unit/s (Maharashtra), Mangalore (Karnataka) and Manglia (Madhya Pradesh) of the Company.	Repayable in 17 quarterly installments (commenced from March, 2008) of sanctioned amount of Rs. 2500.000 Millions out of that first 13 installments shall be of Rs. 100.000 Millions per installments and next 4 shall be of Rs. 300.000 Millions per installments.
Corporate Loan II from State Bank of India amounting to Rs. 760.595 Millions (March 31, 2011: Rs. 1269.450 Millions )	BBR + 4.25% p.a.	Secured by a first exclusive charge over the fixed assets, both present and future, located at Kota Rajasthan), Chennai (Tamilnadu) and Shriganganagar unit (Rajasthan) of the Company and first pari passu charge over the fixed assets, both present and future, located at Haldia (West Bengal), Patalganga and Nagpur unit/s (Maharashtra), Mangalore (Karnataka) and Manglia (Madhya Pradesh) of the Company.	Repayable in 18 quarterly installments (commenced from December, 2008) of sanctioned amount of Rs. 2500.000 Millions out of that first 14 installments shall be of Rs. 125.000 Millions per installments and next 4 shall be of Rs. 187.500 Millions per installments.
Corporate Loan III from State Bank of India amounting to Rs. 2279.677 Millions (March 31, 2011: Rs. Nil)	BBR + 4.25% p.a.	Secured by a first exclusive charge over the fixed assets, both present and future, located at Kota (Rajasthan), Chennai (Tamilnadu) and Shriganganagar (Rajasthan) of the Company, and first pari passu charge over the fixed assets, both present and future, located at Haldia (West Bengal), Patalganga and Nagpur (Maharashtra), Mangalore (Karnataka) and Manglia (Madhya Pradesh) of the Company.	Repayable in 20 equal quarterly installments (commenced from September 2011) of sanctioned amount of Rs. 2500.000 Millions .
Term loan from State Bank of India amounting to Rs. 32.578 Millions (March 31, 2011: Rs. 48.687 Millions)	PLR-1.25% p.a	Secured by a first pari passu charge over the entire fixed assets, both present and future, located at Oleochem division, Kandala (Gujarat) of the Company.	Repayable in 25 quarterly installments (commenced from October, 2006) of sanctioned amount of Rs. 150.000 Millions out of that first 22 installments shall be of Rs. 5.320 Millions per installments, then next 2 shall be of Rs. 10.996 Millions per installments and last installments shall be of 10.968 Millions .
Term loan from State Bank of India amounting to Rs. 17.933 Millions (March 31, 2011: Rs. 38.858 Millions)	PLR-1% p.a		Repayable in 22 quarterly installments (commenced from October, 2007) of sanctioned amount of Rs. 100.000 Millions out of that first installments shall be of Rs. 2.350 Millions, then next 13 shall be of Rs. 4.321 Millions per installments, then next 7 installments shall be of Rs. 51.85 Millions per installments and last installments shall be of Rs. 5.182 Millions .
Term loan from State Bank of India amounting to Rs. 23.662 Millions (March 31, 2011: Rs. 51.916 Millions)	PLR-1% p.a		Repayable in 26 quarterly installments (commenced from September, 2006) of sanctioned amount of Rs. 150.000 Millions out of that first 2 installments shall be of Rs. 6.300 Millions per installments, then next 8 installments shall be of Rs. 4.500 Millions per installment, then next 4 installments shall be of Rs. 6.000 Millions per installment, then next 4 installments shall be of Rs. 6.500 Millions per installment, then next 7 installments shall be of Rs. 7.000 Millions per installment and last installments shall be of Rs. 2.400 Millions.
Term loan from State Bank of India amounting to Rs. 39.554 Millions (March 31, 2011: Rs. 77.213 Millions)	PLR+1.25% p.a		Repayable in 22 quarterly installments (commenced from December, 2007) of sanctioned amount of Rs. 180.000 Millions out of that first 2 installments shall be of Rs. 6.700 Millions per installments, then next 4 shall be of Rs. 5.700 Millions per installments, then next 8 installments shall be of Rs. 8.200 Millions per installments, then next 4 installments shall be of Rs. 9.820 Millions per installments and last 4 installments shall be of Rs. 9.740 Millions per installments.
Term loan from State Bank of Mysore amounting to Rs. 15.083 Millions (March 31, 2011: Rs. 35.248 Millions)	PLR-1.75% p.a		Repayable in 25 quarterly installments (commenced from October 2006) of sanctioned amount of Rs. 122.900 Millions out of that first 2 installments shall be of Rs. 4.000 Millions per installment, then next 22 shall be of Rs. 5000 Millions per installment, and last installment shall be of Rs. 4.900 Millions.
Term loan from Yes Bank amounting to Rs. 612.500 Millions (March 31, 2011: Rs. 706.123 Millions)	10.3% p.a.	Secured by a first pari passu charge over the fixed assets, both present and future, located at Mangalore (Karnataka) of the Company	Repayable in 16 equal quarterly installments (commenced from August, 2011). of sanctioned amount of Rs. 700.000 Millions
Term loan from ICICI Bank amounting to Rs. 81.458 Millions (March 31, 2011: Rs. 1,445.83 lac)	BBR+2.5% p.a.	Secured by a first charge over the specific fixed assets, both present and future, located at Ampapuram, Bapulapadu Mandai in Krishna District (Andhra Pradesh) of the Company	Repayable in 48 equal monthly installments (commenced from February, 2010) of sanctioned amount of Rs. 200.000 Millions .
ECB I in foreign currency from DBS Bank Limited Amounting to Rs. 1026.000 Millions (March 31, 2011: Rs. 896.400 Millions)	LIBOR 6 months + 340 bps p.a.	Secured by a first charge over the fixed assets, both present and future, located at Guna (Madhya Pradesh), Daloda (Madhya Pradesh), Baran (Rajasthan) and Gadarwara (Madhya Pradesh) of the Company.	Repayable in 5 semiannual installments (to be commenced from March, 2013) of 15%, 20%, 20%, 20% and 25% of sanctioned amount of US $ 200.00 lac.
ECB II in foreign currency from DBS Bank Limited Amounting to Rs. 1026.000 Millions (March 31, 2011: Rs. 672.300 Millions)	LIBOR 6 months + 290 bps p.a.	Secured by a first charge over the fixed assets, both present and future, located at refinary Kandla (Gujarat) of the Company.	Repayable in 6 semiannual installments (to be commenced from Sep, 2014) of 13%, 13%, 13%, 13% 24% and 24% of sanctioned amount of US $ 200.00 lac.
ECB III in foreign currency from DBS Bank Limited Amounting to Rs. 769.500 Millions (March 31, 2011: Rs. Nil)	LIBOR 6 months + 370 bps p.a.	Secured by a first charge over the fixed assets, both present and future, located at Guna unit (Madhya Pradesh), Daloda unit (Madhya Pradesh), Baran unit (Rajasthan) and Gadarwara unit (Madhya Pradesh) and Kandla refinary unit (Gujarat) of the Company.	Repayable in 5 semiannual installments (to be commenced from March, 2016) of 19.67%, 20%, 20%, 20% and 20.33% of sanctioned amount of US $ 300.00 lac.
ECB I in foreign currency from Standard Chartered Bank amounting to Rs. 1026.000 Millions (March 31, 2011: Rs. 896.400 Millions)	LIBOR 3 months + 260 bps p.a.	Secured by a first charge over the fixed assets, both present and future, located at Maliya Miyana (Gujarat), Piploda (Madhya Pradesh), Fatehgrah (Rajasthan), Shergrah (Rajasthan), and Osiyan (Rajasthan) wind farm locations of the company, having total capacity of 26.1 MW .	Repayable in 16 quarterly installments (to be commenced from June, 2012) out of that first 8 installments shall be 5% and next 8 installments shall be 7.5% of sanctioned amount of US $ 200.00 lac.
ECB II in foreign currency from Standard Chartered Bank amounting to Rs. 1026.000 Millions (March 31, 2011: Rs. 896.400 Millions)	LIBOR 3 months +225 bps p.a.	Secured by a first charge over the fixed assets, both present and future, located at Piploda (Madhya Pradesh), Palsodi (Madhya Pradesh) and Fatehgrah (Rajathan) wind farm locations of the company, having total capacity of 19.8 MW.	Repayable in 6 semi annual equal installments (to be commenced from June, 2013) of sanctioned amount of US $ 200.00 lac.

BBR-Base Bank Rate

PLR-Prime Lending Rate

LIBOR-London Interbank Offered Rate

LTMLR- Long Term Minimum Lending Rate

a) In addition to the securities specified above, loans amounting to Rs. 5067.408 Millions (March 31, 2011: Rs. 4936.333 Millions) are secured by personal guarantee of Director.

b) The charges referred to above, rank pari passu inter se the lenders at each locations, wherever applicable.

D. Deferred Sales tax denotes interest free sales tax deferral under Schemes of State Government of Andhra Pradesh and Tamilnadu. The same are repayable in annual installments beginning from June 2013 in case of Andhra Pradesh. and from August 2015 in case of Tamilnadu .

SHORT TERM BORROWINGS

Name of the lender	Rate of Interest	Nature of Security	Terms of Repayment
Short Term loan from Barclays Bank amounting to Rs. 261.735 Millions (March 31, 2011: Rs. Nil)	6.30133% p.a.	Specific charge over the current assets acquired out of facility or book debts pertaining to current assets acquired out of facility to the extent of INR 250.000 Millions	Repayable on demand within tenure of 90 days or at the end of 90 days from date of drawdown.
Short Term loan from IDBI Bank amounting to Rs. 1000.000 Millions (March 31, 2011: Rs. Nil)	BBR+50bps p.a.	Pledge of stocks held in approved Warehouse(s) with duly endorsed Warehouse receipts in favour of the lender.	Repayable on demand within tenure of 180 days or at the end of 180 days from date of release of facility.
Working Capital Loans from Banks amounting to Rs. 5010.271 Millions (March 31, 2011: Rs. 5222.320 Millions )	Packing Credit Loans ( Ranging from 10.50% p.a to 13.00% p.a.) and other working capital loans(Ranging from 10.5% p.a. to 14.75% p.a. )	First pari passu charge within the Consortium Member banks over the current assets, both present and future of the Company and second pari passu charge within the Consortium Member banks over the movable and immovable fixed assets , both present and future, of the Company.	Repayable on demand during the facility tenure of 12 months.

C In addition to the securities specified above, loans amounting to Rs. 6010.271 Millions (March 31, 2011: Rs. 5222.320 Millions) are secured by personal guarantee of Director/s.

D During the year, the Company has availed buyer’s credit. The amount of Rs. 31602.003 Millions (Previous year Rs. 12732.424 Millions) outstanding on account of buyer’s credit is guaranteed by the banks against fixed deposits of Rs. 22069.300 Millions (Previous year Rs. 10907.500 Millions ) placed with them and against credit line of non fund based limit of Rs. 9805.183 Millions (Previous year Rs. 2335.255 Millions ).

Banking Relations :	--

Auditors :
Name :	P. D. Kunte and Company Chartered Accountants

Cost Auditor :
Name :	K. G. Goyal and Company Cost Auditors

Subsidiaries :	Ruchi Worldwide Limited,India Mrig Trading Private Limited,India Gemini Edibles and Fats India Private Limited,India Ruchi Industries Pte. Limited, Singapore Ruchi Ethiopia Holdings Limited, Dubai Indian Oil Ruchi Bio Fuels, Limited Liability Partnership Ruchi Infrastructure Limited,India

Step Down Subsidiaries:	Ruchi Agri Plantation (Combodia) Pte. Limited Ruchi Agri Trading Pte. Limited, Singapore (with effect from December 30, 2011) Ruchi Agri SARL (Madgasker) (with effect from December 12, 2011) Ruchi Agri PLC (with effect from May 20, 2011)

Associates :	GHI Energy Private Limited Ruchi Green Energy Private Limited

Other Related Parties :	Aaradhya Buildtech Private Limited,India Alison Builders and Construction Private Limited, India Ankesh Resorts and Hotels Private Limited, India Aparaa Buildtech Private Limited, India Arav Construction and Developers Private Limited, India Archer Construction and Builders Private Limited, India Aseem Infracon Private Limited, India Avid Constructions Private Limited, India Bright Star Buildtech Private Limited, India Bright Star Housing Private Limited, India Deepti Housing Private Limited, India Deepti Properties Private Limited, India Delite Ventures Private Limited, India Great Eastern Infrastructure Corporation Private Limited High Tech Realties Private Limited, India I Farm Equity Advisors Private Limited, India I Farm Venture Advisors Private Limited, India Indivar Wellness Private Limited, India Mahadeo Shahra Sukrut Trust Mahakosh Amusement Private Limited, India Mahadeo Shahra and Sons Mahadeo Shahra and Sons Private Limited, India Mangalore Liquid Impex Private Limited, India Navaagat Infratech Private Limited, India Navodit Infracon Private Limited, India Neha Resorts and Hotels Private Limited, India Neha Securities Private Limited, India Nibodh Infradevelopers Private Limited, India Nirvana Housing Private Limited, India Nischit Intratech Private Limited, India RSIL Benificiary Trust Ruchi Marketrade Private Limited, India Ruchi Bio-fuels Private Limited, India Ruchi Corporation Limited, India Ruchi Multitrade Private Limited, India Ruchi Realty Private Limited, India Sadashay Construction Private Lim, India Saharsh Brokers Private Limited, India Sakushal Buildtech Private Limited, India Sanchit Buildtech Private Limited, India Shahra Brothers Private Limited, India Shahra Estate Private Limited, India Shahra Sons Private Limited, India Shalin Infratech Private Limited, India Sharsha Infracon construction and Developers Private Limited, India Shiva Foundation (Trust) Soyumm Marketing Private Limited, India Spectra Realties Private Limited, India Suramya Infratech Private Limited, India Vishal Warehousing Private Limited, India

CAPITAL STRUCTURE

After 25.09.2012

Authorised Capital : Rs. 2530.500 Millions

Issued, Subscribed & Paid-up Capital : Rs. 688.092 Millions

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount

333439622	Equity Shares	Rs. 2/- each	Rs. 2020.500 Millions
5100000	Cumulative Redeemable Preference Shares	Rs.100/- each	Rs. 510.000 Millions
	TOTAL		Rs. 2530.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

333358572	Equity Shares	Rs. 2/- each	Rs. 666.717 Millions
200000	Cumulative Redeemable Preference Shares	Rs.100/- each	Rs. 20.000 Millions
	TOTAL		Rs. 686.717 Millions

NOTES

(a) Reconciliation of numbers of shares

Particulars	As at March 31, 2012
i) Equity Shares:	Number of Shares	Rs. in Millions
Balance as at the beginning of the year	332,526,472	665.053
Add:
Shares issued pursuant to a scheme of amalgamation	--	--
Share issued on conversion of Warrants	--	--
Shares issued under Employee Stock option during the year	832,100	1.664
Balance as at the end of the year	333.358.572	666.717
ii) Preference Shares
Balance as at the beginning of the year	200,000	20.000
Add:
Shares issued pursuant to a scheme of amalgamation	--	--
Balance as at the end of the year	200,000	20.000

(b) Rights, Preferences and Restrictions attached to Shares

A-Equity Shares:

The Company has one class of equity shares having a par value of Rs. 2 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

Lock in Restrictions

70,559,616 (Previous year 70,559,616) Equity shares are subject to lock in restrictions ranging from period January 29, 2013 to March 28, 2014.

B-Preference Shares:

The 6% Non-Convertible Redeemable Cumulative Preference Shares of Rs. 100/- each were issued pursuant to the Scheme of Amalgamation and Arrangement between Sunshine Oleochem Limited, Ruchi Soya Industries Limited and their respective shareholders sanctioned by the Hon’ble High Court of Mumbai in the preceding year on the same terms and conditions as originally issued by Sunshine Oleochem Limited.

The preference shares are redeemable as follows:

a) First installment of Rs. 33/- per preference share on completion of 144 months from March 31, 2009.

b) Second installment of Rs. 33/- per preference share on completion of 156 months from March 31, 2009.

c) Third installment of Rs. 34/- per preference share on completion of 168 months from March 31, 2009.

d) Details of shares held by shareholders holding more than 5% of the aggregate shares in the Company.

Particulars	31.03.2012	%
EQUITY SHARES
Mr. Dinesh Shahra (in the capacity of Trustee of Shiva Foundation)	47,274,013	14.18%
Dinesh Shahra (HUF)	18,705,836	5.61%
Soyumm Marketing Private Limited	23,358,049	7.01%
Spectra Realities Private. Ltd.	18,000,000	5.40%
Sawit Plantations PTE Limited	19,612,913	5.88%
VS Net Limited	21,973,459	6.59%
TOTAL EQUITY SHARES	148,924,270	44.67%

PREFERENCE SHARES
Ruchi Infrastructure Limited	200,000	100%
TOTAL PREFERENCE SHARES	200,000	100%

(e) The issued, subscribed and paid-up share capital includes 56,638,462 Equity Shares and 200,000 Preference Shares issued pursuant to Schemes of Amalgamation, Arrangement and Mergers during the last five years.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	686.717	685.053
(b) Reserves & Surplus	21381.477	20872.387
(c) Money received against share warrants	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	22068.194	21557.440

(3) Non-Current Liabilities
(a) long-term borrowings	7997.050	6563.678
(b) Deferred tax liabilities (Net)	2528.721	1990.495
(c) Other long term liabilities	332.458	151.172
(d) long-term provisions	16.669	31.111
Total Non-current Liabilities (3)	10874.898	8736.456

(4) Current Liabilities
(a) Short term borrowings	37874.009	25203.471
(b) Trade payables	41240.782	34515.559
(c) Other current liabilities	14615.239	5219.640
(d) Short-term provisions	170.264	276.508
Total Current Liabilities (4)	93900.294	65215.178

TOTAL	126843.386	95509.074

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	23413.770	21005.959
(ii) Intangible Assets	36.150	27.739
(iii) Capital work-in-progress	2370.057	1818.661
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	2102.855	1867.935
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	847.098	1133.505
(e) Other Non-current assets	16.593	3.024
Total Non-Current Assets	28786.523	25856.823

(2) Current assets
(a) Current investments	4.418	4.503
(b) Inventories	36602.026	28234.140
(c) Trade receivables	30990.157	22300.497
(d) Cash and cash equivalents	23992.329	12573.919
(e) Short-term loans and advances	4706.722	5534.717
(f) Other current assets	1761.211	1004.475
Total Current Assets	98056.863	69652.251

TOTAL	126843.386	95509.074

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		824.813
2] Share Application Money		0.000
3] Reserves & Surplus		18404.902
4] (Accumulated Losses)		0.000
NETWORTH		19229.715
LOAN FUNDS
1] Secured Loans		6853.367
2] Unsecured Loans		16610.196
TOTAL BORROWING		23463.563
DEFERRED TAX LIABILITIES		1686.500
EMPLOYEES STOCK OPTIONS		18.132

TOTAL		44397.910

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		19605.195
Capital work-in-progress		644.052

INVESTMENT		1967.273
DEFERREX TAX ASSETS		0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	15872.849
	Sundry Debtors	12002.742
	Cash & Bank Balances	15013.811
	Other Current Assets	412.353
	Loans & Advances	9481.033
Total Current Assets		52782.788
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	27079.524
	Other Current Liabilities	1524.733
	Provisions	1998.629
Total Current Liabilities		30602.886
Net Current Assets		22179.902

MISCELLANEOUS EXPENSES		1.488

TOTAL		44397.910

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	259964.526	166268.001	135135.989
		Other Income	2272.565	1359.691	161.228
		TOTAL (A)	262237.091	167627.692	135297.217

Less	EXPENSES
		Cost of Material Consumed	140349.946	101415.081	121895.430
		Purchases of Stock In Trade	98278.910	51410.554	0.000
		Employees Benefits Expenses	1102.561	885.896	0.000
		Others Expenses	19723.527	11794.502	9411.555
		Exceptional Items	0.000	0.000	(35.243)
		Increase/(Decrease) in Stock	(6121.493)	(4363.336)	(377.450)
		TOTAL (B)	253333.451	161142.697	130894.292

Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		8903.640	6484.995	4402.925

Less	FINANCIAL EXPENSES (D)		5212.619	2227.518	674.393

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3691.021	4257.477	3728.532

Less/ Add	DEPRECIATION/ AMORTISATION (F)		1407.765	1199.270	1003.717

	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		2283.256	3058.207	2724.815

Less	TAX (H)		1060.109	926.121	1000.142

	PROFIT / (LOSS) AFTER TAX (G-H) (I)		1223.147	2132.086	1724.673

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		6086.295	4296.438	3445.491

	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD RELATING TO TRANSFEROR COMPANIES		0.000	101.571	15.438

Less	APPROPRIATIONS
		General Reserve	100.000	250.000	250.000
		Proposed Dividend	107.900	166.749	159.609
		Capital Redemption Reserve	0.000	0.000	452.429
		Tax on Dividend	17.500	27.051	27.126
	BALANCE CARRIED TO THE B/S		7084.042	6086.295	4296.438

	EARNINGS IN FOREIGN CURRENCY
		F. O. B value of Export	32343.326	22672.177	13458.161
		F. O. B value of Merchandise trade	10843.919	9063.470	7603.100
	TOTAL EARNINGS		43187.245	31735.647	21061.261

	IMPORTS
		Capital Goods	0.000	0.000	7.071
		Purchase of Oils	69127.946	46374.738	50987.995
		Purchases for Merchandise exports	9334.897	8883.483	7474.504
		Purchase of Consumables/ packing materials	7.394	6.314	70.339
	TOTAL IMPORTS		78470.237	55264.535	58539.909

	Earnings Per Share (Rs.)		3.67	6.62	6.92

QUARTERLY RESULTS

PARTICULARS	30.06.2012	30.09.2012	31.12.2012
Net Sales	50079.100	54272.300	81712.200
Total Expenditure	48608.100	53620.700	79814.900
PBIDT (Excl OI)	1471.100	651.500	1897.300
Other Income	677.400	831.600	846.500
Operating Profit	2148.400	1483.200	2743.700
Interest	1165.900	185.900	1708.400
Exceptional Items	0.000	0.000	0.000
PBDT	982.500	1297.300	1035.300
Depreciation	346.300	342.800	395.500
Profit Before Tax	636.200	954.600	639.800
Tax	210.200	298.000	145.700
Provisions and contingencies	0.000	0.000	0.000
Profit After Tax	426.100	656.600	494.100
Extraordinary Items	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000
Net Profit	426.100	656.600	494.100

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.47	1.27	1.27

Net Profit Margin (PBT/Sales)	(%)	0.88	1.84	2.02

Return on Total Assets (PBT/Total Assets)	(%)	1.87	3.37	3.76

Return on Investment (ROI) (PBT/Networth)		0.10	0.03	0.14

Debt Equity Ratio (Total Debt/Networth)		2.08	1.47	1.22

Current Ratio (Current Asset/Current Liability)		1.04	1.07	1.72

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

DETAILS OF CHARGES:

ENTITY	PERSON	COMPETENT AUTHORITY	REGULATORY CHARGES	REGULATORY ACTION(S) / DATE OF ORDER	FURTHER DEVELOPMENTS
RUCHI SOYA INDUSTRIES LIMITED.	--	CBEC	Defaulted In Payment of Customs/Excise Duties	Notice Issued Under Section 142 of Customs Act, 1962 28.02.2005	--
RUCHI SOYA INDUSTRIES LIMITED	--	BSE	Did Not Submit Shareholding Pattern Under Provisions Of Clause 35 For The Quarter Ended 31-December-2010	Put Up On BSE Website For Public Notice 31-Dec-2010	Not Appearing In The List For The Quarter Ended 31-March-2011
RUCHI SOYA INDUSTRIES LIMITED	--	SEBI	Alleged Failure In Making Disclosure Of Shareholding/Changes In Shareholding To Stock Exchanges For Years 1998 To 2005 As Required Under Regulations 6(2), 6(4) And 8(3) Of SEBI Takeover Code, 1997 In Matter Of Param Industries Limited Alleged Failure In Making Disclosure Of Shareholding/Changes In Shareholding To Stock Exchanges As Required Under Regulation 13(6) Of Sebi (Prohibition Of Insider Trading) Regulations, 1992 In Matter Of ParAM Industries Limited Alleged Failure In Making Disclosure Of Preferential Allotment Of 32,82,480 Shares Required Under SEBI (Disclosures andInvestor Protection) Guidelines, 2000 To Be Furnished To Shareholders During AGM	Reached Settlement (Settlement Charges Rs.1,00,00,000 Vide Consent Order) 24-Jun-2010	--

UNSECURED LOAN:

Particulars	(Rs. In Millions) 31.03.2012	(Rs. In Millions) 31.03.2011
Deferred Sales Tax Liability	510.527	297.204
From Banks / Financial Institutions	31602.003	19981.151
TOTAL	32112.530	20278.355

INDEX CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10419930	22/03/2013	3,650,000,000.00	STATE BANK OF INDIA	Commercial Branch, A. B Road, Near GPO, Indore, Madhya Pradesh - 452001, India	B73253957
2	10406214	29/12/2012	2,500,000,000.00	Bank of Maharashtra	Bhicholi Mardana Branch, Vidhya Sagar School Road Indore, Madhya Pradesh - 452001, India	B68850171
3	10386062	19/10/2012	2,650,000,000.00	STATE BANK OF INDIA	Commercial branch, a. B. Road, Near G.P.O Indore, Madhya Pradesh - 452001, India	B61783767
4	10373592	30/08/2012	1,669,455,000.00	DBS Bank Ltd.	3rd Floor, Fort House,, 221, Dr. D. N. Road, Fort , Mumbai, Maharashtra - 400001, India	B56697717
5	10370275	09/08/2012	1,102,900,000.00	DBS Bank Ltd.	3rd Floor, Fort House,, 221, Dr. D. N. Road, Fort, Mumbai, Maharashtra - 400001, India	B45343043
6	10360000	17/05/2012	300,000,000.00	AXIS BANK LIMITED	01, Kamal Palace, Y N Road, Indore, Madhya Pradesh - 452001, India	B41351016
7	10329974	19/12/2011	664,000,000.00	AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED	Cnergy, 6th Floor, Appasaheb Marathe Marg, Prabha Devi, Mumbai, Maharashtra - 400025, India	B29512936
8	10299238	28/07/2011	5,632,500,000.00	ICICI BANK	Corporate Head Office, ICICI Bank Towers, Bandra - Kurla Complex, Bandra (East), Mumbai, Maharashtra - 400051, India	B17691478
9	10296868	27/06/2011	2,500,000,000.00	STATE BANK OF INDIA	Commercial branch, a. B. Road, Near Gpo, Indore, Madhya Pradesh - 452001, India	B16773319
10	10286881	27/04/2011	917,400,000.00	Standard Chartered Bank	90, M G Road,, Fort,, Mumbai, Maharashtra - 400001, India	B12842993

OPERATIONS:

During the year, the Total Income (revenue) of the Company increased to Rs. 262237.100 Millions from Rs. 167627.700 Millions in the previous year, recording a growth of over 56%. The earnings before interest, tax and depreciation (EBITDA) has increased by 37.30% from Rs. 6485.000 Millions to Rs. 8903.600 Millions. Profit after tax of Rs. 1223.100 Millions was recorded during the year as against Rs. 2132.100 Millions in the previous year. During the year, the international economic and political situations coupled with monetary conditions have influenced domestic business sentiments. Also, volatility in the currency and commodity prices and the sharp depreciation in the value of Indian rupee had impacted cost structure and margins.

EXPORTS

The Company registered a growth of over 42% in exports during the financial year as compared to that of previous year. It exported products of Rs. 32343.300 Millions during the year as compared to Rs. 22672.200 Millions in the previous year.

FUTURE OUTLOOK

Subject is a leading branded edible oil supplier. Nutrela Healthy Oils (Soyabean, Sunflower, Mustard Oil), Ruchi Gold (Palmolein and Mustard Oil), Mahakosh (Soyabean Oil), Sunrich (Sunflower Oil) are all leading brands in the Indian edible oil market space and Ruchi is the leader in the Refined Oil Consumer Pack (ROCP) space today.

Superior procurement and leadership position in the industry, continuous innovation, an endeavor to meet consumer needs and stringent quality control standards have enabled the Company to emerge as a highly-respected and admired Indian company.

The Company is exploring new horizons beyond its traditional business interests. New initiatives like palm plantation and renewable energy sources coagulate well with the existing business goals of the company. The Company has also recently expanded the capacity of its port based refineries by close to 600,00 MT per annum to cater to the growing demand and remain competitive in the market. The company is also ready to commission one new processing unit in the state of Bihar with refining capacity of close to 2 lac MT per annum.

INDUSTRY STRUCTURE AND DEVELOPMENT

The primary business of the Company is processing of oilseeds and refining of crude oil for edible use. The Company also produces oil meal, food products from soya and value added products from downstream and upstream processing. The domestic edible oil consumption has been steadily growing and is estimated to be around 17 million MT in the current year, with Palm and soya oil, in which the Company has a dominant presence, contributing approx 60% in volume. While there has been a steady growth that has led to per capita consumption of approx 13 kg (2011-12), the supply growth has been primarily lower due to relative stagnancy in the domestic oil seed output. In view of the demand-supply gap, around 53% of the domestic edible oil consumption is met by imports, with Palm and Soya accounting for over 89% of the imported volume. The domestic soya crop production was around 11 Million MT in India during the year. The oil meal is essentially consumed as poultry, fish and cattle feed. A substantial part of soya meal is generally exported to the Asian region even though the domestic demand is growing.

Owing to the growing demand-supply gap in edible oil, the volumes of import of edible oil have gone up from 5.4 Million MT (2006-07) to 9.04 Million MT (2011-12) over the past six years. The share of palm segment in the import of oil has increased from 3.6 Million MT (2006-07) to 7.14 Million MT (2011-12) ) over the past six years due to favorable price dynamics and higher demand of the cost conscious consuming population in the country. The palm segment continues to maintain the overall share of around 80% of the imported vegetable oil in the country, despite the growth in the overall import volume in the country.

During the year, the international economic and political situations coupled with monetary conditions have influenced domestic business sentiments. Also, volatility in the currency and commodity prices and the sharp depreciation in the value of Indian rupee had impacted cost structure and margins.

The Government of Indonesia had changed the export duty structure for export of crude and refined palm oils during October 2011, increasing the duty for export of crude oil. The landed cost of imported crude oil from Indonesia has increased as compared to refined oils and the share of import of refined oil has gone up, thereby adversely impacting the capacity utilization, operations and performance of port based edible oil refinery units in

India during the second half of the year ended March 31, 2012. Various representations were made by the industry associations to protect the domestic industry (including the associated dependent sectors) and promote domestic value addition. The anomaly has since been resolved in July 2012 by the Government of India by correcting the import duty structure to have a level playing field for the domestic industry and thus the industry is hopeful of better performance in the coming years. Keeping in view the substantial quantum of imports, the industry hopes that the Government would continue to take appropriate counter measures proactively to encourage domestic refining industry and domestic value addition.

Keeping in view the growing demand of Palm Oil and augmentation of the domestic supply, the Government of India and State Governments have identified potential areas for oil palm cultivation and taken measures to promote oil palm cultivation and processing in India. It is believed that the above will benefit farmers with better income, reduce import bill of edible oil, support domestic industry and promote regional development. As the effective oil yield per Hectare of palm is far higher than any other oil seeds, the encouragement will entail increase in the sustainable sources of supply of domestic edible oil and will be beneficial to the stakeholders in the long run.

BUSINESS STRATEGY :

The per capita consumption of edible oil in India is low with reference to global average and also to comparable economies. Also, considering the very basic needs to cater to the varying cooking styles/patterns in India, large size of population, better disposable income etc, The demand for edible oil is expected to increase in future. Thus the size and the steady growth of the edible oil industry in India offer great potential for the company to proactively adopt strategies to sustain leadership position in the Industry. The company is in the process of consolidation of the expansion of production capacities in the core business activities with a view to lay a strong foundation to aim at sustainable growth in the years to come. Also, the company is more focused on strengthening the front end and back end business activities with a view to have better visibility of end products in the market place across the spectrum and sustainable sourcing of raw materials to capture the value chain. Keeping in view the rising consumption and changing consumer preferences /needs, the company is evaluating business opportunities in providing health based products by strengthening Research and Development activities and imbibing global technologies for better value to their growing customer base. The focus is also targeted towards achieving continuous improvement in products, processes and services to serve their customer better.

The company has structured the overall operations which has resulted in creation of a robust organizational structure to evolve appropriate response mechanisms which are closer to the point of action considering ground realities and which enables faster decision making and consequent response to the consumer needs, in line with the emerging business needs and trends. The increase in the company’s share of packed and branded retail segment is a testimony of their efforts to deliver consumer oriented action in the market place.

The consumption of edible oil in packed form, given its current low base and vast untapped potential, offers tremendous business opportunities to expand business volumes in retail segment. The company will continue to expand its distribution channels across the country, broad base its product range, and invest in designing and implementing brand position/promotion strategies to achieve the objectives. With the favourable shift towards growth in packaged goods segment, the company has chalked out plans to continue to achieve far higher growth than the industry growth. The company is also strengthening the business processes while realigning the products and markets for value creation.

Being the largest branded marketer in palm oil with strong sourcing strengths, processing capabilities in port based locations to process imported palm oil for distribution in the domestic markets, The company perceives that vertical integration into palm plantations will be the key goal to partially insulate against the short supplies and spiraling prices in the long run. The company perceives, therefore, a logical business opportunity to achieve backward integration in palm plantations in overseas/ domestic markets to complete the value chain and thus give a fillip to the momentum. The direct benefit of the above endeavors, besides strengthening the existing attributes of its business in the domestic market, will be to de-risk the operations from geographical and product risks, to support supply chain requirements and to add long-term sustainable value to the business of the Company. In this regard, the company has already secured procurement rights for the development and sourcing of oil palm over 185,000 Hectares of land, suitable for the cultivation, across various states in India, and set up commensurate processing capacities/facilities appropriate to the requirements. The planted area as of the close of the year was over 42,000 Hectares. Despite the challenging task of scalability, the company has resolved to step up the efforts

resulting in increase in the area of oil palm plantation in the coming years, thereby contributing to income of farmers, the regional development and increase in domestic oil production. The active completion of oil palm plantation in India will be one of the key focus drivers in the future.

As a part of growth strategy, the company is in the process of expanding its presence internationally by setting up of facilities for palm, soya and other cash crops and processing into downstream products, through step down subsidiaries. This will enhance their origination capabilities; support their strategy of value integration, add significant improvement in the margin profile on a consistent basis, resulting in their business model with reasonable predictability and sustainability, in the times to come. They have also identified growth opportunities in grains, cereals and certain cash crops to capitalise on business prospects by leveraging their agriculture oriented business strengths.

The Company will continue to strengthen itself in areas of sourcing raw materials from points of origin, reducing inefficiencies in supply chain and logistics, promoting green energy initiatives, improvements in product quality, and increased sales of branded products in retail segment.

The Company is of the view that the initiatives in the above mentioned areas will improve the product mix and enhance the margin profile in future. Keeping in view the scale of operations and the overall growth, the company believes that strategic moves will prove beneficial for the Company and the stakeholders in the long term.

CONTINGENT LIABILITIES : (As on : 31.03.2012)

(Rs. In Millions)

Particulars	31.03.2012	31.03.2011
a) Claims against the company not acknowledged as debts	88.315	90.676
b) Outstanding bank guarantees	450.641	404.834
c) Outstanding letter of credit	--	2.164
d) Outstanding corporate gurantees given on behalf of
- Indian Subsidiary	3629.876	2913.909
- Foreign Subsidiary	513.000	--
e) Income tax/Sales tax/Excise/Octroi/Custom duty/ESIC/ Electricity Duty/demand disputed	2540.171	2926.730
f ) Bills discounted	5260.259	2794.053
g) Interest liability , if any, in respect of advance from customers in the event of default.	183.072	--

STATEMENT OF STANDALONE AUDITED RESULTS FOR THE QUARTER AND YEAR ENDED ON 31.03.2013

(Rs. In Millions)

Particulars		3 months ended 31.03.2013	3 months ended 31.12.2012	Year to date figures for current year ended 31.03.2013
		(Audited)	(Unaudited)	(Audited)
1	Income from operations
	(a) Net Sales/Income from operations(net of excise duty)	75164.668	81751.617	260974.809
	(b) Other Operating Income	374.970	(39.456)	628.373
	Total Income from operations(net)	75539.638	81712.161	261603.182
2	Expenses
	(a) Cost of materials consumed	40542.355	50770.241	160146.277
	(b) Purchases of stock-in-trade	27462.782	28294.937	75179.792
	(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade	(272.582)	(3955.969)	1504.319
	(d) Employee benefits expenses	369.428	431.002	1425.590
	(e) Depreciation and amortization expenses	458.043	395.541	1542.629
	(f) Other Expenses	6263.850	5113.592	18992.454
	Total Expenses	74823.876	81049.344	258791.061
3	Profit /(loss) from Operations before other income, finance costs and exceptional items (1-2)	715.762	662.817	2812.121
4	Other Income	1028.591	846.486	3384.073
5	Profit/(Loss) from ordinary activities before finance costs and exceptional items (3±4)	1744.353	1509.303	6196.194
6	Finance costs	939.461	869.539	3160.746
7	Profit/(Loss) from ordinary activities after finance costs but before Exceptional Items (5±6)	804.892	639.764	3035.448
8	Exceptional Items	-	-	-
9	Profit/(Loss) from Ordinary Activities before tax (7±8)	804.892	639.764	3035.448
10	Tax Expenses	19.005	145.663	672.807
11	Net Profit/(Loss) from Ordinary activities after tax (9±10)	785.887	494.101	2362.641
12	Extraordinary items (net of tax expenses Rs. Nil)	--	--	--
13	Net Profit/(Loss) for the period (11±12)	785.887	494.101	2362.641
14	Share of Profit/(loss) of associates	--	--	--
15	Minority Interest	--	--	--
16	Net Profit/(Loss) after taxes, minority interest and share of profit / (loss) of associates (13±14±15)	785.887	494.101	2362.641
17	Paid-up - Equity Share Capital(Face value Rs.2/- per share)	667.845	667.845	667.845
	Preference Share Capital (Face value Rs.100/- per share)	200.00	200.00	200.00
18	Reserve excluding Revaluation Reserve as per balance sheet of previous accounting year	--	--	19077.275
19.i.	Earning per share (before extraordinary items) (of Rs.2/- each) (not annualised) (in Rs. Per share)
	a) Basic	2.35	1.48	7.08
	b) Diluted	2.35	1.48	7.07
19.ii	Earning per share (after extraordinary items) (of Rs.2/- each) (not annualised) (in Rs. Per share)
	a) Basic	2.35	1.48	7.08
	b) Diluted	2.35	1.48	7.07

1	Public shareholding
	No. of shares	151,321,271	151,898,726	151,321,271
	Percentage of Shareholding	45.32	45.49	45.32
2	Promoters and Promoters Group Shareholding
	a) Pledged/Encumbered - Number of shares	30,724,217	2,278,640	30,724,217
	- Percentage of shares (as a % of the total shareholding of promoter and promoter group)	16.83	1.25	16.83
	- Percentage of shares(as a % of the total share capital of the Company)	9.20	0.68	9.20
	b) Non-encumbered
	- Number of shares	151,877,084	179,745,206	151,877,084
	- Percentage of shares(as a % of the total shareholding of promoter and promoter group)	83.17	98.75	83.17
	- Percentage of shares(as a % of the total share capital of the Company)	45.48	53.83	45.48

B.	INVESTOR COMPLAINTS	31.03.2013
	Pending at the beginning of the quarter	1
	Received during the quarter	9
	Disposed of during the quarter	10
	Remaining unresolved at the end of the quarter	--

SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED

(Rs. In Millions)

	PARTICULARS	3 months ended 31.03.2013	3 months ended 31.12.2012	Year to date figures for current year ended 31.03.2013
		(Audited)	(Unaudited)	(Audited)
1	Segment Revenue
	Oils	37265.312	59287.111	166889.745
	Vanaspati	1552.461	2082.110	7837.431
	Seed Extraction	33563.819	26631.095	95138.466
	Food Products	931.878	900.002	4122.063
	Wind Turbine Power Generation	153.908	106.198	709.425
	Others	7875.893	3524.522	16800.614
	Unallocated
	Total Segment Revenue	81343.271	92531.038	291497.744
	Less : Inter segment Revenue	6178.603	10779.421	30522.935
	Net Sales/Income from operations	75164.668	81751.617	260974.809

2	Segment Results (Profit/(loss) before tax and interest from each segment)
	Oils	318.773	(49.469)	848.162
	Vanaspati	54.149	62.336	168.398
	Seed Extraction	982.011	1065.280	2538.139
	Food Products	18.029	42.569	138.210
	Wind Turbine Power Generation	58.271	16.943	366.760
	Others	(517.528)	(459.833)	(1012.684)
	Unallocated	-	-	-
	Total	913.705	677.826	3046.985

	Less: (i) Finance costs	939.461	869.539	3160.746
	(ii) Interest Income	(830.648)	(827.396)	(3145.128)
	(iii) Other unallocable expenditure net off un-allocable income	-	(4.081)	(4.081)
	Total Profit before tax	804.892	639.764	3035.448
3	Capital Employed (Segment Assets less Segment Liabilities)
	Oils	17555.635	14136.612	17555.635
	Vanaspati	3725.814	2803.607	3725.814
	Seed Extraction	14515.122	13112.963	14515.122
	Food Products	1375.102	1472.597	1375.102
	Wind Turbine Power Generation	4502.025	4733.125	4502.025
	Others	7941.797	5236.217	7941.797
	Unallocated	-	-	-
	Total	49615.495	41495.121	49615.495

STATEMENT OF ASSETS AND LIABILITIES

(Rs. In Millions)

Particulars	31.03.2013 (Rs. In Millions)
EQUITY AND LIABILITIES
Shareholders' funds
(a) Share capital	687.845
(b) Reserves and surplus	22974.421
(c) Money received against share warrants	--
Sub-total - Shareholders' funds	23662.266
(2) Share application money pending allotment	--
(3) Minority interest	--
(4) Non-Current Liabilities
(a) Long-term borrowings	10374.181
(b) Deferred tax liabilities (net)	2466.711
(c) Other Long-term liabilities	279.543
(d) Long-Term provisions	0.015
Sub-total - Non-current liabilities	13120.450
(5) Current Liabilities
(a) Short-term borrowings	44013.239
(b) Trade payables	48232.946
(c) Other current liabilities	15032.327
(d) Short-term provisions	211.985
Sub-total - Current liabilities	107490.497

TOTAL - EQUITY AND LIABILITIES
ASSETS
(1) Non-current assets
(a) Fixed assets	26931.236
(b) Goodwill on consolidation	--
(c) Non-Current investments	2610.796
(d) Long-term loans and advances	1189.145
(e) Other non-current assets	3.419
Sub-total - Non-current assets	30734.596
Current assets
(a) Current investments	218.257
(b) Inventories	33441.506
(c) Trade receivables	42467.747
(d) Cash & Bank balances	29499.432
(e) Short-term loans and advances	5456.038
(f) Other current assets	2455.637
Sub-total - Current assets	113538.617
Total Assets	144273.213

NOTES:

The above results have been reviewed by the Audit Committee and have been approved by the Board of Directors of the Company at the meeting held on May 30, 2013.
The Compensation Committee of the Board of Directors, at its meeting held on -28 May 2013 has allotted 1,23,850 equity shares of Rs.2/- each on exercise of 1,23,850 options by the eligible employees in accordance with the Employee Stock Option Scheme – 2007 of the Company, as amended from time to time.

The Employee Stock Options outstanding as on 31st December, 2012 are as follows:

Date of Grant	Opening Balance as On 1^st January, 2013	Issued during the quarter	Exercised during the quarter	Cancelled during the quarter	Closing Balance as on March 31, 2013
April 1st 2008	56200	--	--	56200	--
October 1^st 2009	157900	--	--	37950	119950
April 1st 2010	89950	--	--	15500	74450
April 1st 2011	157400	--	--	5000	152400
April 1st 2012	15000	--	--	--	15000
Total	476450	--	--	114650	361800

NOTE:

Note-The opening balances under various grants inter se have been regrouped in terms of the decision of the Companion Committee of the Board of Directors.

The Company has exercised the option provided under paragraph 46A of AS 11:

The Effects of Changes in Foreign Exchange Rates inserted vide Notification dated December 29, 2011. Consequently, the exchange differences on long term foreign currency monetary items are dealt with in the following manner:

The exchange difference to the extent it relates to acquisition of depreciable asset, is adjusted to the cost of the depreciable asset, and depreciated over the balance life of the asset.

In other cases, the exchange difference is accumulated in a Foreign Currency Monetary Item Translation Difference Account, and amortised over the balance period of such long term asset/ liability.

(a) Accordingly , the Company has adjusted exchange loss of Rs. 296.603 millions ( Previous year: Rs. 536.795 millions ) in respect of long term foreign currency monetary items relating to acquisition of depreciable fixed assets to the cost of fixed assets and

(b) Amortised exchange loss relating to long term foreign currency monetary item in other cases over the life of the long term liability and included Rs. 61.058 millions (Previous year Rs. 51.406 millions) being the unamortised portion in Foreign Currency Monetary Item Transaction Account.

Pursuant to the Scheme of Amalgamation and Arrangement between the Company and Mac Oil Palm Limited, the Board has approved the following amounts as charge to Business Development Reserve during the quarter ended on March 31, 2013 :

(Rs. In Millions)

Particulars	3 Months quarter ended March 31, 2013	Year ended 2012-13 Amount
Provision for Doubtful Advances ( net of deferred tax)	30.960	30.960
Advances written off ( net of current tax)	5.268	5.268
Provision for Doubtful Debts ( net of deferred tax)	265.342	265.343
Advertisement Expenses ( net of current tax)	52.779	106.472
Additional depreciation on account of revaluation	55.671	2114.37
Additional loss on sale of revalued assets	3.557	3.565
Total	413.578	623.045

With effect from 1 April 2011, the Company has adopted the principles of derivatives and hedge accounting of Accounting Standard (AS) 30 “Financial Instruments: Recognition and Measurement”, to account for interest rate swaps. Accordingly, mark to market losses/(gain) of Rs. 167.280 millions (Including gain of Rs. 31.626 millions for the 3 month under review) on account of interest rate swaps designated as effective hedge has been recognized in the balance sheet under the head “Hedging Reserve”.

Tax expenses comprises Net current tax Rs. 6500.000 millions (Current Tax 890.997 millions - MAT Credit adjusted 240.997 millions), Deferred tax Rs. (62.010 millions) and tax for earlier year Rs. 84.817 millions

The results of subsidiary companies, associate/s, Trust and Joint Venture will be consolidated with the year end results.

The figures for the quarter ended 31 March 2013 and 31 March 2012 are the balancing figures between audited figures in respect of the full financial year ended 31 March 2013 and 31 March 2012 respectively and the unaudited published year to date figures upto 31 December 2012 and 31 December 2011 respectively.

The financial statements have been prepared as per the Revised Schedule VI to the Companies Act. 1956 which had a significant impact on presentation. Corresponding figures for the previous period have been regrouped/ reclassified to make them comparable with those of current period.

WEBSITE DETAILS

BUSINESS DESCRIPTION

Subject operates in four segments: Extractions, which include all types of seed extractions; Vanaspati, which involves manufacturing of vanaspati; Oils, which include Crude oils and refined oils; Food Products, which include textured soya protein, soya flour, fruit juice and soya milk; Wind Power Generation, which include electricity generation from wind mills excluding captive consumption, and Others, which include gram, wheat, rice, maize, corn, seeds, coffee, marine products, tuar, peas, barley, soap, fresh fruit bunch, seedling and plant and machinery (equipment), cotton bails and toiletry preparation. Its brands include Nutrela, Ruchi Gold, Mahakosh and Sunrich. Its other products include Bakery fats and Soaps. Its soaps include Magic of Fresh Jasmine, Purity of Natural Sandalwood, Goodness of Rose Petals and Freshness of Lime. It exports its products to Japan, Vietnam, Indonesia, Thailand, Philippines, South Korea, Taiwan and Middle East countries. For the fiscal year ended 31 March 2010, Ruchi Soya Industries Limited's revenues increased 13% to RS143.94B. Net income increased 87% to RS1.74B. Revenues reflect increased income from Oils segment, a rise in earnings from Food Products and higher income from other segments. Net income also reflects a fall in consumption of raw material. The Company operates in extractions, vanaspati, oils and food product segments.

BOARD OF DIRECTORS

Mr. Kailash Chandra Shahra (Non Executive Chairman of the Board)

Mr. Kailash Chandra Shahra is Non-Executive Chairman of the Board of Subject, since January 7, 1986. He holds B.Com from Vikram University, Ujjain (Madhya Pradesh). He established a new milestone by setting-up India’s first soyabean processing plant Served as member on the Board of Directors of Bank of India Served as Chairman of Soyabean Processors Association of India (SOPA), a body representing the Soyabean Industry in India. He holds Directorship of other companies are Anik Industries Limited, Shahra Brothers Private Limited, Indian Steel Corporation Limited, National Board of Trade Limited, Mahadeo Shahra and Sons Private Limited, Ruchi Strips and Alloys Limited, National Steel and Agro Industries Limited, Revati Cements Private Limited, Federation of Indian Commodity Exchange Shahra Sons Private Limited.

Mr. Sanjeev Kumar Ashtana (Non-Executive Director)

Mr. Sanjeev Kumar Asthana is Non-Executive Director of Subject, since August 28, 2010. He holds PGDIT from IIFT, New Delhi and PGDRM from IRMA, Anand. He holds PGDIT from IIFT, New Delhi and PGDRM from IRMA, Anand. He serves Erstwhile President and CEO of Agribusiness and Food Supply of Reliance Retail Limited and Director of Cargill India Private Limited. He Provides Advisory Services and manages the business of IFARM group of Companies Eminent expert in Agri and Food Sector and has served on several executive committees of national business associations, trade bodies and commodity exchanges, including those constituted by FICCI, CII and NCDEX. Affiliated to international forums and a regular speaker on commodity trade, risk management, food supply chain, retail and agriculture Distinguished Speaker on Agri, Food Security, Retail, Supply Chain etc., both in India and Overseas, Chairman - CII National Task Force on Horticulture for the year 2011-12, Chairman - CII National Council on Agriculture for the year 2011-12.

Mr. Sajeve Deora (Independent Non-Executive Director)

Mr. Sajeve Deora is Independent Non-Executive Director of Subject, since December 27, 2005. He holds B.Com from Delhi University and FCA from the Institute of Chartered Accountants of India. He holds Directorship of other companies are Ruchi Infrastructure Limited, Bholanath International Limited, Deora Associates Private Limited, Jai Mata Glass Limited, Integrated Capital Services Limited, Prochem Solutions Pte Limited, Thesgora Coal Private Limited, Sun Links Limited, Green Infra Profiles Private Limited, Vippy Industries Limited, Greenway Advisors Private Limited, Him Teknoforge Limited, Gemini Edibles and Fats India Private Limited. He is Practising Chartered Accountant since 1984 with an experience in financial re-constructions, acquisitions, mergers and corporate restructuring.

Mr. Prabhu Dayal Dwivedi (Independent Non-Executive Director)

Mr. Prabhu Dayal Dwivedi is the Independent Non-Executive Director of Subject. He holds M.A. from Allahabad University, LLB (professional) from Punjab University and CAIIB, Diploma in Industrial Finance and Cooperation from Indian Institute of Bankers. He is Former M.D. State Bank of Saurashtra, Served four Associate Banks of State Bank of India in the capacity of senior Executive. Attended executive development programmes in India (IIM Ahmadabad) and abroad. Former Banking Lokpal for Gujarat State and Union Territories of Dadra, Nagar Haveli, Daman Diu. Regional Director of Indo-Overseas Chamber of

Mr. V. K. Jain (Director)

Mr. Vijay Kumar Jain is Director - Commercial, Whole time Director of Subject, since July 27, 2009. He holds B.Sc (Physics Hons.) from Delhi University and PGDBM from Bhartiya Vidya Bhawan. He has Over 32 years experience across marketing, logistics, import and exports, commercial including taxation, bio fuels, public relations and business development Executive Committee member of Indian Vanaspati Producers Association and Biodiesel Association of India Currently he is looking after overseas projects in addition to work related to import/export and taxation among others. He holds Directorship of other companies are Evershine Oleochem Limited, Ruchi Infrastructure Limited, Ruchi Worldwide Limited, Mrig Trading Private Limited, Uttaranchal Bio Fuels Limited, Ruchi Agri Plc, Ruchi Agri Plantation (Cambodia) Pte. Limited

Mr. Navin Khandelwal (Independent Non – Executive Director)

Mr. Navin Khandelwal is Independent Non-Executive Director of Subject, since December 18, 2009. He holds B.Com from Devi Ahilya University, Indore and FCA from the Institute of Chartered Accountants of India. He holds Directorship of other companies are National Steel and Agro Industries Limited, Ruchi Strips and Alloys Limited, Indian Steel Corporation Limited, Indian Steel SEZ limited. He is Practising Chartered Accountant since 2002 and is associated with various management associations.

Mr. Navamani Murugan (Independent Non – Executive Director)

Shri. Navamani Murugan is Independent Non-Executive Director of Subject, since July 27, 2009. He holds M.Sc from Madras University and MBA from Texas, USA. He holds Directorship of other companies are Ruchi Infrastructure Limited, M.S.T. Enterprises Private Limited, Venturo Technologies Private Limited. He is Retired Indian Administrative Service Officer and the former Chairman and Managing Director of Tamil Nadu Urban Finance and Infrastructure Development Corporation Limited.

Mr. Ashutosh Bhailal Rao (Director)

Mr. Ashutosh Bhailal Rao serves as Director - Legal, Whole time Director of Subject. He holds LLB and MBA (Marketing) from Devi Ahilya University, Indore. He is a qualified legal professional holding experience of 25 years. Presently, heading the legal department of the Company and advising on legal matters and statutory compliances of manufacturing facilities, as in-house counsel for last 10 years Possesses exposure to indirect taxation and procedures, in particular, excise, service tax and customs duty.

Mr. Dinesh Shahra (Managing Director, Executive Director)

Mr. Dinesh Shahra is Managing Director, Executive Director of Subject, since January 7, 1986. He holds B.E. (Chemical Engineering) from HBIT, Kanpur (UP). He has been Managing Director of Ruchi Soya Industries Limited since January 7, 1986. He holds Directorship of other companies are Ruchi Worldwide Limited, Jafra Ruchi Cosmetics India Private Limited, Ruchi Multitrade Private Limited, Evershine Oleochem Limited, Shahra Brothers Private Limited, Shahra Estate Private Limited, Ruchi Infrastructure Limited, Mangalore Liquid Impex Private Limited, Brightstar Infrastructure Private Limited, Ruchi Green Energy Private Limited, Hightech Realties Private Limited, Spectra Realties Private Limited, IFarm Venture Advisors Private Limited, IFarm Equity Advisors Private Limited, Ruchi Industries Pte. Limited, Ruchi Ethiopia Holdings Limited.

Mr. Dinesh Shahra (Managing Director, Executive Director)

PRESS RELEASE :

Ruchi Soya enters into a Joint Venture with Kagome and Mitsui to revolutionize 17 Million Tons Indian Tomato market

Integrated value chain to focus from Farm to Fork ‘Ruchi Kagome’ JV to work closely with Indian Farmers to reduce processed tomato products imports First manufacturing plant to be set up in Maharashtra with an initial investment of Rs. 440.000 Millions

Mumbai, April 29, 2013: Ruchi Soya Industries Limited (Ruchi Soya), the leading FMCG player in India has announced a Joint Venture (JV) with Kagome Co. Ltd (Kagome), a leading tomato product company of Japan and Mitsui & Co. Ltd. (Mitsui), one of the World’s largest trading, investment and services companies to revolutionize the Indian Tomato Market estimated to be producing 17 Million Tons per year. Ruchi Soya will have 40% stake in this JV and rest 60% will be held by a special purpose company (SPC) created by Kagome and Mitsui who own 66.7% and 33.3% share each in the SPC.

The Joint Venture ‘Ruchi Kagome’ plans to launch premium tomato puree, sauces, ketchup and other world-class products in India. It has identified land in Maharashtra to set up a manufacturing plant, with an initial investment of Rs. 440.000 Millions, which is expected to be ready for commercial production by June 2014. Ruchi Kagome will work closely with Indian Farmers to drive a tomato revolution in the country through higher yielding seed, sharing global knowledge to educate local tomato producers & setting up local support centers to handhold farming community in India.

Currently India is second largest producer of tomatoes and also one of the major importers of processed tomato products. Factors such as lack of awareness about the market, poor harvest managementand inefficiencies in the value chain have always been an obstruction for Indian trade. ‘Ruchi Kagome’ plans to partner with the Indian Farmers to take Indian tomatoes to global standards and enable India to create import substitution.

The Ruchi Kagome Joint Venture reinforces the commitment of Ruchi Soya to bring their deep understanding of Indian Food and Agriculture market and extensive distribution network to the Joint Venture; Kagome’s commitment to bring their global customer relationships in the Foods Services Business and processing technology & knowledge to the Indian Market; and Mitsui’s commitment to provide their global network and establish sound internal controls for the Joint Venture company.

Mr. Dinesh Shahra, Founder and Managing Director, Ruchi Soya said, “Ruchi Kagome is all set to tap the rapidly growing FMCG and Processed Foods business in the country. We are planning to launch a range of tomato products, based on world class technology to be provided by Kagome. These products will be marketed in both, the Business to Business (Food Services) segment and the Business to Consumer (Retail) segment.

Mr. Hidenori Nishi, President, Kagome said, “Kagome Group supplies food and beverage products in approximately 50 nations throughout the globe. This new venture is a strategic fit for our global expansion plan. Kagome is aiming to contribute to the wellbeing and longevity of people in the rapidly expanding Asian market, by creating new, regionally based solutions for Tomato. We strongly believe that the radical improvement in the purchasing power of Indians, health consciousness and change in the consumption pattern of people in the country are some of the potential future business drivers for us as we are entering India.

Mr. Yasuharu Fujiyoshi, COO, Food Products and Services, Mitsui said, “All the partners in the JV are committed to the integration of the entire value chain for tomato and its processed products in India over the long term. Our key initiatives include acceleration of the implementation of a global strategy and acceleration of business development in emerging markets with rapid economy growth.”

Ruchi Soya 105% jump in Profit during the third quarter of FY 2012-13

Net sales up by 17.56%

Branded Sales grew by 22.95%

Export realization of Soya Meal up by 47.29%

February 14, 2013; Mumbai: Ruchi Soya Industries Limited (Ruchi Soya) has announced its un-audited financial results for the quarter ended December 31, 2012 (Q3). As compared to the corresponding period of the previous year, net profit for the quarter rose by 105.45% from Rs.240.500 Millions to Rs. 494.100 Millions whereas net sales rose by 17.56% from Rs. 69542.900 Millions to Rs. 81751.600 Millions

During the quarter, branded sales registered a healthy 22.95% growth from Rs. 13742.300 Millions to Rs. 16895.900 Millions. Refining capacity utilization improved by 8.85% from 4,78,589 MT to 5,20,960 MT. Export of Soya Meal in value improved by 47.29% from Rs. 8831.600 Millions to Rs. 13008.300 Millions. Sale of Textured soya protein (TSP) stood at Rs. 281.600 Millions registering an impressive rise of 43.53% from Rs.196.200 Millions during Q3 in the last fiscal.

Commenting on the performance, Managing Director, Mr. Dinesh Shahra said, “I am happy to share the healthy growth recorded by the Company during the third quarter ended December 31, 2012. Improved branded sales, better sales realization of oilseed extraction, effective control on the costs and favourable business sentiments helped us to get profit on the track. We are making our efforts to have good performance on a sustained basis in the times to come.”

Ruchi Soya Industries Limited

Featuring among the top five FMCG players in India, Ruchi Soya is India’s number one cooking oil maker and marketer. An Integrated player from farm to fork, Ruchi Soya has secured access to oil palm plantations in India and other important parts of the world. Besides being a leading manufacturer of high quality edible oils, soya foods, vanaspati, and bakery fats, Ruchi Soya is also the highest exporter of soya meal, lecithin and other food ingredients from India. Ruchi Soya features amongst top three players based on market share in the overall Refined Oil in Consumer Packs (ROCP) in India with leadership position in important segments like palm oil. Ruchi Soya is committed to renewable energy and exploring suitable opportunities in the sector.

Ruchi Soya joins hands with GAIN and CECOEDECON for the

Fortification of Mahakosh Soyabean Oil with Vitamin A and D

CECOEDECON, GAIN and Soyabean oil processors join hands in Madhya Pradesh
Mahakosh soyabean oil will now have added health benefits to tackle deficiency of Vitamins

June 18, 2013

Bhopal: India’s leading FMCG Company and No. 1 manufacturer and marketer of Edible oil and Soya products, Ruchi Soya Industries Limited (Ruchi Soya) will play a pivotal role in the project on ‘Soybean oil fortification’ in Madhya Pradesh. Under this project, largest selling Soyabean oil brand in the state ‘Mahakosh’ will now have additional health benefits of Vitamin A and D

This was announced recently in Bhopal during the official launch ceremony of soybean oil fortification project graced by the Honourable Chief minister of Madhya Pradesh Shri. Shivraj Singh Chouhan. Also present on theoccasion was Shri Kailash Vijayvargiya, Honourable Minister of Science and Technology and Food Processing, Government of Madhya Pradesh along with several other dignitaries.

Centre for Community Economics and Development Consultants Society (CECOEDECON) has been working on ‘Soybean oil fortification’ in collaboration with the United Nations affiliated body, Global Alliance for Improved Nutrition (GAIN) and edible oil manufacturers in Madhya Pradesh. Under this project, soyabean oil by leading companies will be fortified with the essential vitamins A and D. This initiative aims to curb malnutrition in Madhya Pradesh with a primarily focus on the nutritional security.

Mr. Sarvesh Shahra, Business Head, FMCG and Specialty Ingredients, Ruchi Soya Industries Limited commented, “The objective of the soyabean oil fortification project in Madhya Pradesh is to reduce health related problems arising due to Vitamin A and D deficiencies in the state. We are happy to partner with the NGOs and offering healthier options to the consumers of our soya oil brand Mahakosh in Madhya Pradesh. We will also work closely with NGOs like CECOEDECON and GAIN on the awareness generation campaign on Vitamin A and D deficiency and the strategies to address it.”

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2] Court Declaration :

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3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

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8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.30
UK Pound	1	Rs.91.18
Euro	1	Rs.78.71

INFORMATION DETAILS

Information Gathered by :	PLV

Report Prepared by :	ANK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		54

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

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MIRA INFORM REPORT

15872.849

12002.742

15013.811

412.353

9481.033

27079.524

1524.733

1998.629

22179.902

0.47

1.27

0.88

2.02

1.87

3.76

0.10

0.14

2.08

1.22

1.04

Unit