Incorporated in 1994, Karuturi Global is today the largest producer of cut roses in the world, with are area of over 292 hectares under Greenhouse cultivation and an annual production capacity of around 555 million stems.

From a modest beginning in 1994, as an export-oriented unit for floriculture, we have expanded our presence into agriculture and food processing verticals with operations spread across Ethiopia, Kenya and India.

The Mission of the company is “To emerge as an integrated agri-products company servicing the world market through unmatched product, cost and quality advantages.”

a. Terms/rights attached to equity shares

The company has only one class of equity shares having par value of Rs 1 per Share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the Annual General Meeting. In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders

b. Details of shares issued for consideration other than cash & shares bought back.

The company has not issued any shares for consideration other than cash & no shares have been bought back by the company.

c. Unpaid calls by directors/officer.

There is no unpaid call due from the directors and officers of the company.

Deferred Tax Assets and Deferred Tax Liabilities have been offset as they relate to the same governing taxation law. Deferred tax asset on unabsorbed depreciation/ carry forward of tax losses is not recognized on grounds of prudence as there is no virtual certainty that sufficient future taxable income will be available for realising the deferred tax assets.

1. Other Disclosures:

1.1: The Company is operating primarily in a single segment of floriculture. As there is no diversified business activity there is no business segment. Hence the requirements of disclosure under Indian Accounting Standard for Operating Segment (IndAS108) would not apply.

a) The Company has received a demand for Rs. 863.44 Lakh for AY 2005-06, Rs. 1393.33 Lakhs for AY 2006-07, Rs. 1850.91 Lakh for AY 2007-08, Rs. 19303.07 Lakhs (outstanding Rs. 18361.60 Lakhs) forAY 2008-09, Rs. 3254.27 forAY 2009-10, Rs. 4830.70 Lakhs for AY 2010-11, Rs. 5706.24 Lakhs for AY 2011-12, Rs. 5472.63 Lakhs for AY 2012-13, Rs. 5471.86 lakhs for AY 2013-14 and Rs. 1493.84 for AY 2014-15 due to certain additions and disallowances made by the Assessing Authorities. The same has been disputed by the Company before the Appellate Authorities and is confident of obtaining a favorable response in the appeal.

b) The Income Tax Department has seized bank accounts of the company during the year 2012-13 due to pending disputes.

1.2 Employee Benefits:

a) Defined Contribution Plan:-

During the year the Company has recognized the following amounts in the Statement of Profit And Loss:-

b) Defined Benefits Plan:-

Short term employee benefits such as salary, allowances and bonus are accounted on accrual basis of accounting and based upon the laws applicable. Termination benefits (Gratuity) is provided on the basis of actuarial valuation. The actuarial gain or loss is considered in the Profit and Loss Account of the period in which it accrues.

Accumulated compensated absences are measured at the expected cost of accumulating compensated absences as the additional amount expected to be paid as a result of the unused entitlement as at the year end.

1.3 Disclosure on Foreign Currency exposures:

a) The Company has entered not into any Forward contracts during the year 2017-18. Forward contract outstanding as on 31st March 2018 is Nil (Previous Year: Nil).

Considering the Fluctuations occurred subsequent to the year ending in Foreign Currency, notional Income arising on account of computation of mark to market liability of Forward Contract as on 31st March 2018 is not recognized.

b) The year end foreign currency exposure that have not been hedged by a derivative instrument or otherwise are given below.

1.4 Lease Particulars:

Operating lease: Where the company is a lessor Assets given on operating lease to subsidiary is as under:

i) Gross carrying amount of fixed assets given on operating lease to its subsidiary is Rs. Nil (PY Rs. Nil), accumulated depreciation Rs. Nil (PY Rs. Nil) and net block of Rs. Nil (Rs. Nil)

ii) Depreciation recognized during the year against assets given on lease is. Rs. Nil (PY Rs. Nil). Nil (Rs. Nil).

1.5 Previous Year’s figures have not been audited by the current year auditors

1.6 Previous year’s figures have been reworked, regrouped, rearranged and re-classified wherever necessary. Figures in bracket relates to previous years