Annual Report 2012

Transcription

Annual Report 2012

3
31-40
Partnering
41-65
Statutory Reports
66-88
Financials
IMPROVING
LIVES
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Improving
Innovating
Partnering
Disclaimer
In this Annual Report, we have disclosed forward-looking information to enable investors to comprehend our prospects and take
investment decisions. This report and other statements - written and oral – that we periodically make contain forward-looking
statements that set out anticipated results based on the management’s plans and assumptions. We have tried wherever possible to
identify such statements by using words such as ‘anticipate’, ‘estimate’, ‘expects’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, and words
of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward-looking
statements will be realized, although we believe we have been prudent in assumptions. The achievements of results are subject
to risks, uncertainties, and even inaccurate assumptions. Should known or unknown risks or uncertainties materialize, or should
underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated, or projected.
Readers should keep this in mind. We undertake no obligation to publicly update any forward-looking statements, whether as a result
of new information, future events or otherwise.
CONTENTS
CORPORATE
REVIEW
STRATEGIC
REVIEW
2
The roots of Improvement,
Innovation and Partnership
10
Sowing Improvement, Innovation
and Partnerships
4
Our Commitment to Sustainable
Agriculture
12
15
16
18
20
22
24
Dekalb®
5
6
8
Our Pledge
Chairman’s Message
Managing Director’s Message
26
87
10
25
02
09
Roundup®
In Service, Innovatively
Partnering Improvement
Partnering Communities
People @ a Great Place To Work®
STATUTORY
REPORTS AND
FINANCIAL
STATEMENTS
26
33
34
39
51
Notice
56
60
61
62
Auditors’ Report
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86
Financial Summary for 10 years
Directors’ Report
Report on Corporate Governance
Management Discussion and
Analysis
Balance Sheet
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Notes forming part of the Financial
Statements
Cash Flow Statement
Nomination Form
Proxy and Attendance Slip
IMPROVING
INNOVATING
PARTNERING
Agriculture is at the heart of
India’s economy. Over half of
the country’s population is
engaged in or around it.
When farmers do well,
the nation does well too.
Agriculture is expected to
play a major part in India’s
economic growth. As farmers
sow seeds of hope, they sow
the dreams of improved lives
of the nation, as a whole.
We believe improving agriculture
improves lives. As a company doing
business with farmers, we take
responsibility to do our best to enable
them to yield their potential, their
opportunity to progress, and play a
growing role in the country’s growth.
We are committed to improve agricultural
yields of farmers. This combined with
market linkages and remunerative prices,
enables farmers to provide their families
with better homes, diets, health and
education opportunities to live a
better life.
We aim to enable farmers through
innovation and partnerships. We
provide farmers with global best-
in-class products, customized crop
management AgVisory® practices, and
work in a multitude of public, private and
development sector partnerships
so farmers produce more, and
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We believe in the enabling power
of partnerships. We have partnered
with State Governments, private and
development sector organizations to
contribute to rural development and
farmer-led economic growth. And we
are humbled and grateful that India’s
farmers have allowed us to be a partner
in their progress, and work to improve
farmers’ lives, towards making India a
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in agriculture.
2
02-09 Corporate Review
The roots of Improvement, Innovation and Partnership
THE ROOTS OF
IMPROVEMENT, INNOVATION
AND PARTNERSHIP.
Monsanto Company
MONSANTO COMPANY IS A LEADING GLOBAL PROVIDER OF TECHNOLOGY-BASED
SOLUTIONS AND AGRICULTURAL PRODUCTS THAT IMPROVE FARM PRODUCTIVITY
AND FOOD QUALITY. MONSANTO REMAINS FOCUSED ON ENABLING BOTH SMALLHOLDER AND LARGE-SCALE FARMERS TO PRODUCE MORE FROM THEIR LAND
WHILE CONSERVING MORE OF OUR WORLD’S NATURAL RESOURCES SUCH AS
WATER AND ENERGY.
Headquarters
Facilities
Regions
St. Louis, Missouri, United States
404 facilities in 66 countries
North America; Brazil; India; Latin
America North; Latin America South;
China; Africa (EMEA)
Globally, our business is
structured in two segments:
Rewards of improving lives of
millions
US$
1.5 Bn
R&D
(2012)
Seeds and Traits: The Seeds and
Traits segment consists of the
Company’s global seeds and traits
business, and genetic technology
platforms - including breeding,
biotechnology and genomics.
Crop Protection: The Crop Protection
segment consists primarily of
agricultural and industrial, turf
and ornamental herbicide (weed
management) products.
US$
13.5 Bn
Global Net Sales
(2012)
Monsanto India Limited
Research & Development (R&D)
Monsanto invests approximately
Rs. 7,500 crores (US$ 1.5 billion) a year,
roughly 9-12% of sales, on research and
development of better seed germplasm,
new biotech traits and genomics research.
Other R&D projects which support
Monsanto’s current products include
improved formulations of Roundup®
herbicide for weed management.
A Fortune 500 Company
Top 10 of the World’s Most Innovative
Companies by Forbes Magazine
World’s Best Multinational
Workplaces 2012 by Great Place
To Work®
Top Companies for Executive Women
by NAFE
Best Places for LGBT Equality 2013 by
Human Rights Campaign Foundation
Best Companies for Leaders 2013 by
Chief Executive Magazine
CEO Hugh Grant ranked No. 10 in
World’s 100 Best Performing CEOs by
Harvard Business Review
Top 100 Global Innovators by 2012 by
Thomson Reuters
Science 2012 Top Employer
100 Best Places To Work in IT 2012
by Computerworld
3
10-25 Strategic Review
26-87 Statutory Reports and Financial Statements
MONSANTO INDIA LIMITED (MIL), THE FLAGSHIP COMPANY OF MONSANTO
COMPANY, IS A SUBSIDIARY AND THE ONLY LISTED MONSANTO ENTITY OUTSIDE
THE UNITED STATES.
We believe ‘Improving Agriculture, Improves
Lives’. We are innovating and partnering
to improve lives by enabling farmers to
produce more and conserve more.
MIL has partnered with farmers for over
four decades.
MIL is a R&D-focused agriculture
company, which aims to improve farmers’
lives by offering farmers wide access to
cutting-edge, high-yielding maize hybrid
seeds researched and developed through
advanced seed breeding techniques; and
herbicides for weed management. The
seeds are processed at state-of-the-art
manufacturing facilities, and supported
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AgVisory® Services, and an on-ground
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a million direct farmer contacts annually,
sharing improved agronomic practices to
enable farmers to optimize yields.
Our innovative, products, services, and
partnerships, i.e. public, private and
development sector partnerships - are
all aimed at improving lives by enabling
Footprint
1. Mumbai, 2. Chandigarh,
3. Eluru, 4. Hubli, 5. Kolkata,
6. Coimbatore, 7. Siliguri,
8. Silvassa
R&D, Quality and Manufacturing
Sites
Three Corn Seed Research
Breeding stations at Udaipur,
Bangalore and Jalandhar
A Biotechnology Research
Centre at Bangalore
A Seed Processing Facility at
Hyderabad
A Quality Assurance Laboratory
at Hyderabad
A Chemistry Plant in Silvassa
Key products
Dekalb - Maize Hybrid Seeds
®
Roundup - Glyphosate Herbicide
for Weed Management
®
Financial snapshot
Market capitalization: Rs. 988
crores, as on 31st March, 2013
farmers to enhance yields sustainably,
while minimizing agriculture’s impact
on the environment by conserving
natural resources.
Our team comprises of over 375
employees, a majority of whom are from
rural backgrounds. Our contributions to
India’s agriculture are reflected in our
2012-13 performance, when we were
rewarded with revenues of Rs. 460.23
crores, ably supported by R&D investment
in India for India.
A Great Place to Work
Recognized as Great
Place To Work® in India
and/or India’s Best
Employers in nine out
of the last ten years
(2003-12)
Ranked 4th in
Companies with less
than 1,000 Employees
in India’s Best
Companies To Work®
2012 by the Great Place
To Work® Institute
Ranked 18th among
Top 100 India’s Best
Companies To Work®
2012 by the Great Place
To Work® Institute
Stock ticker
BSE code: 524084
NSE symbol: MONSANTO
Annual Report 2012-13
4
Our Commitment to Sustainable Agriculture
OUR COMMITMENT TO
SUSTAINABLE AGRICULTURE
PRODUCING MORE, CONSERVING MORE, IMPROVING LIVES.
THAT’S SUSTAINABLE AGRICULTURE, AND WHAT MONSANTO IS ALL ABOUT.
As a nation, we depend upon
what farmers do and will
continue to. Rising population,
JURZLQJIRRGIHHGDQGͤEUH
demand, combined with
stagnant or diminishing
natural resources – land,
water and energy, have
given rise to the need to
enable farmers to optimize
agriculture productivity. Over
the next few decades, farmers
will need to grow as much
food as they have in the last
ten millennia to meet the
rising demand for food. Our
objective is to partner with
farmers to achieve this goal.
We do this by researching
and developing seeds, traits
through biotechnology, and
crop protection chemicals.
The challenge
Meeting the needs of today,
while preserving the planet for
tomorrow
Our commitment
Improve Lives by enabling
farmers to produce more
to meet present and future
needs, while preserving a
greener planet for the years
to come.
Producing more
Better farm inputs, higher farm
yield and marketable produce
are the foundation of farmers
feeding themselves and the
human race.
Globally, we are committed
to enabling farmers to double
their yields in our core crops
(maize, soya and cotton) by
2030. These yield gains will
come from a combination of
advanced seed breeding, inthe-seed biotechnology traits,
improved farming practices
and partnerships.
This fundamental shift of
farmers’ focus towards
producing more from less
will help secure the ever
increasing population and
demand for better food, feed,
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food, nutritional and water
security via affordable choices
for all.
Conserving more
Stagnating or diminishing
availability of land, water
and energy will challenge the
ability of farmers to provide
food and feed for all in the
coming years.
Agriculture uses a majority of
the planet’s fresh water. With
farmers facing unprecedented
challenges to continually
increase crop productivity,
farmers need to produce more
with less.
This is why we’ve
strengthened our goal of
doubling crop yields by
using one-third fewer natural
resources, such as land,
water and energy, for every
unit produced.
We are constantly developing
better seeds, traits and
improving farming practices
to enable farmers to optimize
natural resources and
equip them with tools to
overcome crop challenges,
such as weeds, pests and
environmental stresses.
Improving lives
Farmers seek personal
prosperity through improving
professional productivity. They
wish to progress and prosper
with healthier diets, greater
educational opportunities
and brighter futures for their
families. And this is enabled by
increasing yield and income.
Enabled by innovation.
So, whatever the world looks
like from where you stand,
the truth is that we are all in
this together.
We truly believe that
by working together, in
partnership, we can create
a brighter and more
sustainable world for all
of us. And it begins with a
farmer. Because...
Improving
agriculture,
improves lives.
5
OUR PLEDGE
THE MONSANTO PLEDGE IS OUR COMMITMENT TO HOW WE DO BUSINESS. IT IS A
DECLARATION THAT COMPELS US TO LISTEN MORE, TO CONSIDER OUR ACTIONS
AND THEIR IMPACT BROADLY, AND TO LEAD RESPONSIBLY. IT HELPS US CONVERT
OUR VALUES INTO ACTIONS, AND TO MAKE CLEAR WHO WE ARE AND WHAT
WE CHAMPION.
Integrity
Dialogue
Transparency
Sharing
Integrity is the foundation
of all that we do. It includes
honesty, decency, consistency
and courage. Building on these
values, we are committed to:
We will listen carefully
to diverse points of view
and engage in thoughtful
dialogue. We will broaden our
understanding of issues to
better address the needs and
concerns of society and of
each other.
We will ensure that
information is available,
accessible and
understandable at all times.
We will share knowledge
and technology to advance
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improve agriculture and the
environment, to improve
crops, and to help farmers in
developing countries.
Benefits
Respect
We will use sound and
innovative science and
thoughtful and effective
stewardship to deliver highquality products that are
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and to the environment.
We will respect the religious,
cultural, and ethical concerns
of people throughout the
world. The safety of our
employees, the communities
where we operate, our
customers, consumers, and
the environment will be our
highest priority.
Act as owners to
achieve results
Create a great place
to work
We will create clarity
of direction, roles, and
accountability; build strong
relationships with our
customers and external
partners; make wise
decisions; steward our
company resources; and take
responsibility for achieving
agreed-upon results.
We will ensure diversity of
people and thought; foster
innovation, creativity and
learning; practice inclusive
teamwork; and reward and
recognize our people.
6
Chairman’s Message
CHAIRMAN’S MESSAGE
“My only desire is that India should be a
good producer and no one should be hungry,
shedding tears for food in my country.”
- Sardar Vallabhbhai Patel
Dear Shareholders,
For over 66 years, our farmers have been working assiduously
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VXIͤFLHQF\JRDOV&ORVHWRSHUFHQWRIRXUFRXQWU\PHQOLYHLQ
rural areas, linked around the farming economy and food, feed,
ͤEUHVXSSO\FKDLQ7RGD\DJULFXOWXUHHPSOR\VDERXWSHUFHQW
of our population.
A report by the Confederation of Indian Industry (CII) and
McKinsey forecasts food consumption in India to double by
2030, on the back of rising incomes, fuelled by a rapidly growing
GDP. There are a number of reasons for the above estimation.
First, the per capita income, up by 11.6 per cent in the last year
at Rs. 68,747 in 2012-13 against Rs. 61,564 in 2011-12, clearly
demonstrates that the country is moving in the right direction.
Secondly, when combined with urbanization and evolving
lifestyles, this will ultimately lead to a change in patterns of food
consumption with an increasing proportion of proteins, fruits
and vegetables. The biggest opportunity to improve lives and
increase agricultural output of Indian farms is to serve
the farmer.
There have been impressive gains in a couple of crops in
the past decade, yet the challenges and opportunities before
the Indian farmer are immense. Consider the realities of a
changing climate, stagnant or diminishing natural resources and
unpredictable weather. With crop yields far below international
benchmarks, India is yet to realize the optimum potential of
her farmers, her land, diverse natural resources and agriculture
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productivity and farmers’ income. Thus, improving lives too.
The need of the hour is to enhance the viability of farming as a
profession, enabling Indian farmers to improve their yields and
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enable farmers to tackle farm challenges, is vital. For India to
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farmers’ progress is imperative. The use of the latest seeds,
knowledge, practices, technologies and market access must be
encouraged. Research into better seeds, nutrients and
practices fostered.
7
The use of the latest seeds, knowledge,
practices, technologies and market access
must be encouraged.
Farmers, enabled with access to the world’s
innovative products and technologies
can make India a self-sufficient global
contributor in agriculture.
The Indian farmer, over the years, has been an entrepreneur. He
has been quick to adopt better inputs and techniques that work
for him. Information and technology are empowering the farmer
to make informed decisions about crops, seeds and techniques,
and is ushering in refreshed awareness.
Our Annual Report underscores the Monsanto vision for
sustainable agriculture and sows the seeds for our future
direction. We remain committed to our Pledge by innovating
products and services and partnering the public, private,
development sectors to improve agriculture, and improve
farmers’ lives.
We believe in sustainable agriculture, improving the lives of
farmers by enabling him to produce more with less. We, at
Monsanto India Limited, are proud to partner the farmers in their
progress. Through innovation in seeds, services, agronomic
practices and partnerships. Each season, India’s farmers reward
us with their partnership, now extending over four decades, and
we are humbled by the trust farmers place in us.
For, in improving agriculture, we improve lives.
Yours sincerely,
Sekhar Natarajan
Chairman
We are happy to have played our role in enabling farmers
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portfolio offers farmers choices suited to diverse agro-climatic
conditions. We optimize crop yields through our herbicides for
weed management. The spirit is always Partnership. Be it with
the farmer, or strategic partnerships with State Governments
and agricultural institutions, or with the private and development
sectors. We will continue our endeavour towards farmers and
agriculture growth, partnering industry, government and
other stakeholders.
Agriculture in India is at a crucial juncture. Brazil and China
continue their strides with seeds and technologies. The tools,
be it policy, products or partners, required to take the next leap
IRUZDUGLQIDUPSURGXFWLYLW\DQGHIͤFLHQF\DUHDWKDQG:KDWLV
needed is the vision and will to grasp the opportunity. Enabling
policies encourage research and innovation, leading to more
choices. Farmers, enabled with access to the world’s innovative
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global contributor in agriculture.
8
Managing Director’s Message
MANAGING DIRECTOR’S
MESSAGE
We put farmers at the centre, believing
improving agriculture, improves lives.
Dear Shareholders,
It is a well known fact that farmers ushered in our country’s
Green Revolution, enabled with access to the world’s cuttingedge seeds, technologies, farming practices and market linkages,
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,QGLDDVLJQLͤFDQWJOREDOFRQWULEXWRULQDJULFXOWXUHDQGPHHW
domestic needs.
Domestic food (especially protein, milk, vegetables and fruits),
IHHGDQGͤEUHQHHGVDUHIRUHFDVWWRGRXEOHEHWZHHQ
and 2030 due to rising incomes, fuelled by rapid GDP growth.
As a nation, we expect farmers will meet consumer demand,
overcoming the challenges of limited natural resources and
a changing climate, while protecting the environment. As a
Company, helping farmers succeed presents an opportunity to
enable farmers to improve lives by increasing agricultural output
on farms, to feed and clothe the nation.
We put farmers at the centre, believing improving agriculture,
improves lives.
The seed and technology industry represent the potential of
yield-optimizing products, practices, and partnerships to create
shared value for 130 million farmers, by enabling them to produce
more while improving soil and water quality, meet the needs of the
user industry and nation, enhance rural incomes and create jobs
which catalyze economic opportunities around the farm, between
villages and towns, across sectors.
India’s crop yields are far below global averages. We believe
in India’s opportunity to unleash the potential of her farmers,
land, diverse natural resources, and agriculture science talent in
sustainable way.
From The Field in 2012-13
Farmers continued to prefer your Company’s Dekalb® maize
hybrid seeds across 18 states for enabling them to produce more,
and improve lives.
During the kharif (wet) season 2012-13, especially in key maize
areas of Maharashtra and North Karnataka, delayed rainfall
impacted farmers and India’s maize productivity. Our Dekalb®
business performed well despite environmental vagaries – a
result of superior products, practices, and farmer partnerships.
Farmers rewarded DKC 8101 with volume growth for its water
stress tolerance. In the rabi (dry) season, farmers preferred the
Dekalb®SRUWIROLRHQDEOLQJVLJQLͤFDQWJURZWKLQ%LKDUZLWK'.&
9081 leading the way. New launches – DKC 9120 and DKC 9125 –
helped meet farmers’ needs in the rabi (dry) season, and irrigated
areas in North India respectively.
Our R&D team improved protocols, disease-pest incidence
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9
We believe in India’s opportunity to unleash the potential of her farmers, land, diverse
natural resources, and agriculture science talent in sustainable way.
operations to deliver a competitive product pipeline. Consolidating
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management, reduce seed write offs and customer returns –
helping deliver superior maize hybrid seeds to farmers.
Our Roundup® business performance improved to remain
farmers’ preferred herbicide for weed management, driven
by increasing labour costs, farmer outreach and
education campaigns.
In the area of services and improving agronomic practices, our
ͤHOGVDOHVDQGPDUNHWGHYHORSPHQWWHDPFRQWDFWHGRYHUDPLOOLRQ
farmers directly across States, and our Monsanto Farm AgVisory®
Service (MFAS) offered over 900,000 farmers timely, customized
crop management advisory from sowing-to-harvest, enabling
farmers to enhance yields and income.
We are also participating in Public-Private Partnerships (PPPs)
in Jammu & Kashmir, Odisha, Jharkhand, Maharashtra and Uttar
Pradesh, and in development sector partnerships for sustainable
agriculture to improve farmers’ lives by increasing yields via better
inputs, knowledge and market linkages.
The value created and shared from our innovative products,
services and partnerships enables us to improve lives in the areas
of sustainable agriculture, nutrition, education, human rights and
disaster rehabilitation. In partnership with eight NGOs, we have
improved lives of 143,000 farmer families through sustainable
agriculture; improved learning levels of 57,000 children; enhanced
food and nutritional security of 150,000 children via the mid-day
meal program; and supported 10,000 families through agriculturebased disaster rehabilitation in 2012-13.
Our people’s passion for farmers and agriculture, enabled by
a purpose-driven, collaborative, grassroots culture and matrix
structure creates a Great Place To Work®. It is humbling that
we’re recognized among Great Place To Work® in India and/or
India’s Best Employers in nine out of the last ten years. Our people
access cross-functional and functional specialist experiences,
aiding career lifecycle growth and development.
Harvesting the Future
Domestic maize demand is forecast to grow by 36 per cent by
2017, and to double by 2022, with demand outstripping supply.
Farmers choosing maize hybrid seeds have almost doubled maize
production in the last 11 years, yet India’s maize yields are half the
world average. By adopting maize hybrid seeds and leveraging
India’s unique geographical advantage, India can emerge as a
leading global exporter of maize to meet the rising needs of the
Far East.
To help farmers overcome the challenges of rising cost of
cultivation primarily driven by labour costs we are working on
Roundup Ready® and Yieldgard® in-the-seed technologies
WRRIIHUPDL]HIDUPHUVWKHFKRLFHRIGXDOEHQHͤWVRIVXSHULRU
insect protection, with convenient, flexible and effective weed
management, to optimize maize yields.
An improved regulatory environment will enable farmers to access
cutting-edge products and practices to optimize crop yields,
income, improve convenience, manage crop stresses (water,
pests, weeds, diseases), and reduce risks. India’s science-based
regulatory system is comparable with the best in the world, yet
can evolve in predictability. Research needs the encouragement
of regulatory predictability, so after research, testing and meeting
stated protocols, we can offer farmers new technologies. Farmers
are smart and deserve wider choices. Farmers will only reward
products, practices and partnerships which create shared value,
with acres on their farms.
It is high time our nation witnessed concerted action for farmers,
science, and economic growth. A progressive vision for farmers,
food and agriculture, which Centre and State Governments,
agriculture universities, private and development sector – all work
to deliver.
In keeping with our Monsanto Pledge, we will continue to engage
WUDQVSDUHQWO\VKDULQJNQRZOHGJHLQIRUPDWLRQDQGEHQHͤWVEH
accessible, dialogue, address concerns, respect diversity, and
lead responsibly.
In doing so, we will stay 100 per cent focused on farmers. It’s our
biggest strength, and opportunity.
For I believe, enabling farmers to improve their lives through
innovative products, services, partnerships, with a passionate
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in agriculture.
Yours sincerely,
Dr. Gyanendra Shukla
Managing Director
10
SOWING IMPROVEMENT,
INNOVATION AND
PARTNERSHIPS
Past
Farmer Sadanand Sharma is popular in Devtha, a village of Bihar.
Born and raised in agricultural surroundings, Sadanand has been
acquainted with farming since his childhood. During his 20 years
of farming, he has witnessed the transformation his profession
is undergoing. To grow, and be competitive, thinking about today,
and the future, Sadanand made a few choices.
Present
“Progress of today’s farmer is
dependent on innovation.”
In rabi (dry) season of 2010, Sadanand chose to plant Dekalb®
maize hybrid seeds on 10 acres, yielding 4.3 tons per acre.
Identifying seeds as key to improvements on his farm, he chose
to increase planting Dekalb® maize hybrid seeds to 25 acres in
rabi 2011. And with improved farming practices, he raised yields
to 4.7 tons per acre. Today, Sadanand plants Dekalb® maize
seeds across 30 acres, which is more than 75 per cent of his
land holding. He has improved his life with sustainable yield
and income.
Future
“Progress of today’s farmers’ is dependent on innovation.
Innovative Dekalb® maize hybrid seeds have contributed towards
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Higher yield creates higher maize grain sale and additional
income. Further, incremental income comes from sale of the
maize shank and green stalks of the maize crop. This, in turn,
ensures that we can live in a pucca house, give our children a
better education, expand our cultivable area and earn more
for our family.”
11
Sowing Improvement, Innovation and Partnerships
Past
Farmer Narayan Bhagaji More, 52 years, of Mandna village
in Aurangabad, Maharashtra, started farming with 12 acres
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worldwide, faces a common set of risks – weather, water, pests,
weeds, crop disease. In Mandna, due to uncertain weather
conditions, he got varied yields through the years.
Present
“You can’t sit and wait for
improvement to happen.
You have to take the first step.
Weather is changing. You need
to evolve.”
Seeing the environment change in recent years, either delayed,
early, less or untimely rains, and to reduce his risks, since
1DUD\DQKDVGLYHUVLͤHGKLVFURSSRUWIROLR'XULQJkharif
(wet) season of 2011, he chose to plant maize on three acres,
which yielded him 3.3 tons per acre under favourable weather
conditions like normal rainfall. He was further enabled by the
EHQHͤWVRIFKRRVLQJ'HNDOE® maize hybrid seeds (Dekalb® DKC
RQͤYHDFUHV\LHOGLQJWRQVSHUDFUHHYHQXQGHUFRQGLWLRQV
of reduced water availability in 2012.
Future
“You can’t sit and wait for improvement to happen. You have
WRWDNHWKHͤUVWVWHS:HDWKHULVFKDQJLQJ<RXQHHGWRHYROYH
The risks and costs of farming are far more today than when I
started. Farm labour costs have shot up in recent years. Sourcing
ODERXUIRUIDUPRSHUDWLRQVLVPRUHGLIͤFXOWQRZ:HDWKHULVPRUH
unpredictable. In this challenging situation, I have to ensure
the crop yield is high enough to sustain my livelihood. Shifting
towards farming better maize seeds with better practices is
EHQHͤFLDO$QGLVHQDEOLQJSURJUHVVIRUP\IDPLO\DQGPH̹
12
DEKALB®
Overview
Maize is one of the most
widely grown crops globally. In
SURGXFWLRQWHUPVLWUDQNVͤUVW
in the world, followed by wheat
and rice. On the consumption
side, the majority of its use is
as animal feed; followed by
industrial use in producing
starch and other industrial
products; and in some
parts, food.
India’s maize overview
India is the world’s sixth
ODUJHVWSURGXFHUDQGͤIWK
largest consumer of maize.
The nation’s eight million
maize farmers produced
approximately 22 million
tons of a maize crop from 8.5
million hectares in 2012-13.
Over the recent decade, as
farmers increasingly chose
maize hybrid seeds, maize
production in India has
witnessed a quantum leap.
The country is witnessing a
maize revolution, as farmers
are choosing maize hybrid
seeds on 52 per cent of India’s
maize areas.
Farmers choosing maize
hybrid seeds have contributed
to increasing maize production
by approximately 93 per cent
in the last 11 years (22.50
million tons in 2012-13 from
11.15 million tons in 200203). Yet, India’s maize yields
continue to be half of the
world average, with India’s
yield at 2.47 tons per hectare
in comparison with the world
average yield of 5.14 tons
per hectare.
,QWKHQH[WͤYHDQGWHQ\HDUV
India’s domestic demand for
maize is forecasted to outstrip
supply. The country’s maize
demand is forecast to grow
by 36 per cent in the next four
years touching 30 MT in 2017,
and double within the next
nine years to touch about
44 MT by 2022.
If India can enable her
farmers to raise maize yields,
its unique geographical
advantage can enable it to
emerge as a leading global
exporter to meet the needs
of South East Asia.
All India trend in maize production
Maize
Area
M ha
Production (in Million Tons)
Kharif
Rabi
Total
1990-91
5.90
8.90
-
8.90
2000-01
6.61
9.80
1.7
11.60
2011-12
8.25
15.10
4.8
19.90
2012-13
8.5
17.0
5.5
22.50
(Source: National Council of Applied Economic Research,
Ministry of Agriculture)
,PSURYLQJ(IͤFLHQFLHVLQ6HHG
R&D, Technology Development,
Manufacturing and Supply
Chain
MIL’s India-relevant Dekalb®
maize hybrid seeds continue
to be chosen by farmers in
18 states.
The MIL team improved seed
R&D protocols, disease-pest
incidence mapping, the R&D
footprint (to cover coastal
Andhra Pradesh, Bihar,
West Bengal, Rajasthan,
Uttar Pradesh and Madhya
Pradesh) and mechanization
RIUHVHDUFKͤHOGRSHUDWLRQV
with drip systems, planters,
detasselers, harvesters etc. at
pilot scale.
MIL also enhanced
partnerships with State
Agriculture Universities
(SAUs) and State Government
Departments of Agriculture
(DOA) to co-develop
improved agronomy practice
recommendations, delivered
LQSHUVRQYLD0,/̵VͤHOGWHDP
and the Dr. Dekalb® Farm Care
AgVisory® service (DDFC).
The team also improved
HIͤFLHQFLHVE\FRQVROLGDWLQJ
supply chain operations,
improved inventory
management reducing
seed write offs to less than
7 per cent of sales from
average 20 per cent for the
last three years. This helped
reduce Customer Returns
to 15 per cent. Variable
warehousing and improved
inventory management
ensured logistics costs were
effectively managed despite
fuel deregulations leading
to a fuel hike in excess of
18 per cent.
13
Dekalb®
Product Range
DKC 9081
DKC 8101
DKC 9108
New Dekalb® Maize
Hybrid Seeds Launched
DKC 7074
DKC 9117
DKC 9106
Pinnacle
900M Gold
DKC 9120
DKC 9125
Hishell
Specially developed maize
hybrid seeds for farmers
who plant maize in the rabi
or dry season and need
improved standability of
their maize crop
Specially developed
maize hybrid seeds for
farmers in Northern
States with irrigation on
their lands
Double
Super 900M
Allrounder
Prabal
DKC 9072
2012-13
Season Snapshot
yield higher realizations for the
farmers, and as a result, for MIL.
Delayed rainfall severely
impacted farmers and the
nation’s maize productivity
during the kharif season 201213, especially Maharashtra
and North Karnataka which
are key maize growing areas.
This affected domestic supply,
and an increase in maize and
feed prices has been observed
in recent months.
Kharif Season 2012-13
Pressure on maize
acreages on account of
delayed rainfall
With the change in rainfall,
farmers accelerated their
planting of maize hybrid
seeds with better water stress
tolerance. Late resurgence of
the rainfall in parts resulted
in farmers increasing maize
sowing in kharif and thus
volume growth for Dekalb®.
During the rabi season in Bihar,
seed placement was initiated
October onward and farmers;
choice to plant Dekalb® grew
VLJQLͤFDQWO\
MIL continued to focus on elite
maize hybrid seeds, which
Drought in key maize
growing markets of
Maharashtra and North
Karnataka put pressure
on sales
Maize commodity prices
inched up, driven by global
and local factors, creating
demand for maize, and
extension of the kharif
season sowing till lateAugust 2012
Aggressive scale up
of DKC 8101, to offer
farmers in Maharashtra
and Karnataka a Dekalb®
hybrid seed with better
water stress tolerance.
Farmers rewarded Dekalb®
ZLWKDͤYHIROGYROXPH
growth for the hybrid over
the previous year
Increased competition by
seed companies impacted
volume participation
in State Public-Private
Partnerships (PPP)
Rabi Season 2012-13
Rabi season was buoyant;
driven by good farmer
demand on account of
increased maize prices
DKC 9108 and DKC 9081
are emerging as seeds
of choice for farmers
across rabi and spring
geographies
A focus on elite hybrid
seeds improved farmer
acceptance and MIL
margin realizations
7KHͤHOGWHDPRSWLPL]HG
Dekalb® maize hybrid
availability constraints
while maximizing
demand-supply dynamics
in the market
Marketing Campaigns
Dekalb® ‘Hero’
campaign helped
build farmer
preference for DKC
8101 in Maharashtra
and Karnataka
Dekalb® Hishell ‘Guru’
campaign in North
markets found farmer
appreciation
Dekalb® 9120
‘Pehelwan’ campaign
found farmer success
in Bihar
The Dr. Dekalb®
Farm Care AgVisory®
platform enabled
superior performance
for Dekalb® maize
hybrid seeds along
with customized
agronomic practices,
as well as targeted
farmer and trade
channel promotions
through mobile
phones
14
Dekalb® Margdarshak
The Dekalb® Margdarshak
program focuses on
providing value-added
EHQHͤWVWRH[LVWLQJ
Monsanto Dekalb®
farmers. The Dekalb®
Margdarshak farmers
receive regular agronomic
training, access to
detailed product
knowledge and technical
advisory (DDFC), soil
testing service, veterinary
check up, access to
agriculture seminars, and
community recognition.
Over 13,000 farmers
across 15+ Indian states
are registered Dekalb®
Margdarshaks; learning,
growing and sharing their
learning with fellow
maize farmers.
Human Rights Program for
Farmers in Maize Hybrid Seed
Production
MIL continued its effort
towards improving lives with
the launch of its Human Rights
Program in maize. During
the 2012-13 season, MIL
focused on educating farmers
to produce maize hybrid
seeds without child labour,
DQGHQKDQFLQJIDUPHUͤHOG
safety in the state of Andhra
Pradesh, where majority of
its maize hybrid seeds are
produced. Post third-party risk
assessment in 2009, it was
found that farmers used child
labour to an extent of 1 per
cent. MIL undertook proactive
PHDVXUHVOLNHIDUPHUͤHOG
audits at various stages of the
crop, from sowing to harvest,
LQWHQVLYHRQͤHOGWUDLQLQJDQG
education on safety measures.
As a positive step for the
FKLOGUHQHPSOR\HGLQWKHͤHOGV
it adopted 15 schools located
around the maize hybrid seed
production areas, provided
free play aids, computers
and supported special
education classes. These
collaborative efforts resulted
in the containment of child
labour rate to 0.1 per cent.
The program also provides
safe and clean drinking water.
With this in mind, a reverse
osmosis plant was installed
across six villages addressing
the needs of more than 60,000
people in seed production
areas, and positive feedback
received from the community
on receiving on the support
from MIL.
Ravishankar C
Category Lead – Corn
“IF INDIA CAN
ENABLE HER
FARMERS TO RAISE
MAIZE YIELDS,
ITS UNIQUE
GEOGRAPHICAL
ADVANTAGE
CAN ENABLE IT
TO EMERGE AS A
LEADING GLOBAL
EXPORTER TO MEET
THE NEEDS OF
SOUTH EAST ASIA”
15
Roundup®
ROUNDUP®
FARMERS’
HERBICIDE OF
CHOICE FOR WEED
MANAGEMENT
7KHEHQHͤWVRI5RXQGXS®
Potential to save
crop-yield loss by
approximately 30-35%
Manages weeds by
eliminating them from
their roots
Protects weed reemergence for 50-55
days
Weeds are unwanted plants
WKDWJURZLQͤHOGVDQGDUH
a major deterrent to crop
productivity. Weeds compete
with crops for water, nutrients
and sunlight, thus inhibiting
their growth. Weeds also tend
to harbour insects, pests and
micro-organisms. They block
drainage and impede the flow
of water, impacting yields.
Hence, timely removal of
weeds is critical for farmers to
optimize yield potential of
their crops.
Traditional methods of weed
control -- hand weeding or
mechanical weeding, provide
limited duration weed control,
are labour intensive, and
hence, costly. Labour shortage,
timely unavailability, rising
ZDJHVDQGLQVXIͤFLHQWIDUP
mechanization options, has
farmers choosing to spray
herbicides for
weed management.
Roundup® is a glyphosatebased, broad spectrum, postemergent systemic herbicide
for weed management, and
the flagship of our agricultural
productivity business.
Roundup®SURYLGHVHIͤFLHQW
weed control and helps cover
wide areas effectively. It
offers cost savings in weed
management on labour
and time, helps prevent soil
erosion, conserve water and
carbon dioxide, and is safer to
soil microbes (as compared
to other herbicides) in
conservation (reduced or zero)
tillage practices.
Roundup® is also used to
control weeds along roadsides,
railway tracks, airports and
gardens. Regulatory agencies
around the world have
concluded that glyphosate
KHUELFLGHVSRVHQRVLJQLͤFDQW
risks to human health and
the environment.
MIL conducts regular farmer
education on the importance
of chemical weeding, and
Roundup®’s advantages,
helped Roundup® continue as a
preferred choice of farmers.
Piyush Nagar
Category Lead – Crop
Protection & Seed Treatment
“LABOUR
SHORTAGE, TIMELY
UNAVAILABILITY,
RISING WAGES AND
INSUFFICIENT FARM
MECHANIZATION
OPTIONS, HAS
FARMERS CHOOSING
HERBICIDES
FOR WEED
MANAGEMENT.
Reduces manual
dependence for weeds
removal
Saves farmers money
and time
Can be used easily with
minimal impact on soil
fertility
16
IN SERVICE,
INNOVATIVELY.
IMPROVED AGRONOMIC PRACTICES (IAP) ARE A KEY LEVER TO INCREASING YIELD.
WHILE SEED IS ONE OF THE CRITICAL INPUTS IN FARMING, FARMERS FACE A LOT
OF UNCERTAINTIES AND CROP MANAGEMENT CHALLENGES, WHICH REDUCE FARM
YIELD AND INCOME. THESE INCLUDE CROP DISEASES, PESTS, WEEDS, UNCERTAIN
WEATHER AMONG OTHERS. MOST FARMERS CONSTANTLY SEEK THE LATEST
TIMELY, CUSTOMIZED INFORMATION TO MANAGE THEIR CROP AND OVERCOME
ENVIRONMENT STRESSES EFFECTIVELY.
MONSANTO FARM AGVISORY® SERVICES (MFAS)
Strong Connectivity
Features of MFAS
MFAS is built on a highly sophisticated IT software system,
ZKLFKDVVLVWVTXDOLͤHGDQGWUDLQHG0)$6$GYLVRUVWR
identify the farmer’s query, consult the comprehensive
technical advisory system, and present the solution to
him instantly, mostly, on a single call. The toll-free number
works for 365 days from 7 am to 9 pm, giving live solutions
to any crop related query of the farmer. MFAS offers two
distinctive services which provide timely and customized
advisory to the farmer round-the-season helping him get
immediate solutions to his farming queries:
Leveraging the high
penetration of mobile phones
in the villages, in 2010, MIL
launched Monsanto Farm
AgVisory® Services (MFAS).
An innovative interactive
mobile-based farmer advisory
platform, MFAS offers
timely and customized crop
management advisory to
enable maize, cotton and
vegetable farmers to enhance
IDUP\LHOGVDQGSURͤWDELOLW\
Partnering with nine lakh
farmers, MFAS has been
launched in 16 states, seven
different languages. The
platform provides farmers with
timely and customized, roundthe-season advisory during
different crop stages across
pre-sowing, crop management
and harvesting.
9 Lakh+
Farmers connected
16
Presence in
number of states
7
Number of languages
for assistance
17
In Service, Innovatively
Inbound advisory
Suitable seed selection
Outbound advisory
Regular voice based crop advisories
and alerts throughout the season
Timely agronomic practices for
fertilizers, pesticides, irrigation
Timely alerts on crop management
Pest-disease and weed
management
Hybrid recommendation
Weather forecasts
Local mandi prices
DR. DEKALB® FARM CARE (DDFC)
sowing to harvesting, with
service portfolio extending
to extensive market research
(covering weather forecasts
and mandi produce prices).
Simplicity at DDFC
Register with DDFC on
the toll-free number 1800
3000 0303 after purchase
of any Dekalb® maize
hybrid seeds packet
Maintains a detailed
database of each farmer
Provides a toll free number
with a simple assist
directly to the DDFC
advisor in the preferred
language of the farmer
DDFC is our dedicated Maize
Crop Advisory Service under
the MFAS umbrella. Since its
launch in May 2010, DDFC has
been effective in handholding
farmers through all three
maize cropping cycles.
Understanding DDFC
The DDFC team collects
comprehensive information on
farms and crop management.
With its advanced and
innovative D-Tool (Diagnostic
Tool) and Farmer Expert
Panel, it provides solutions
RQQXWULHQWGHͤFLHQF\RIVRLO
timely control of pests and
diseases, recommendation
on weedicide thus aiding in
conservation of resources
and enhancing yield. DDFC
drives on holistic crop
management advisory from
Excellence at DDFC
DDFC was awarded a
Silver Prize at Monsanto
Sustainable Yield Global
Pledge Awards in 2010
Rahul Das
Lead - Strategic Marketing
“WE ARE SHARING
OUR AGRICULTURE
KNOWLEDGE BY
LEVERAGING IT AND
MOBILE SOLUTIONS
TO DELIVER SEASONROUND FARMER
AGVISORY®.”
DDFC farmer enrolment
rose 32 per cent year-onyear, at 3.5+ lakh farmers
in 2012-13 up from 2.65
lakh farmers in 2011-12
18
PARTNERING
IMPROVEMENT
PUBLIC-PRIVATE PARTNERSHIPS (PPP)
WE BELIEVE IN INNOVATION, PARTNERSHIPS AND CHOICES. CHOICES ENABLE
FARMERS TO ACCESS CUTTING-EDGE SEEDS AND AGRONOMIC PRACTICES IN
THE BRAND AND CHANNEL OF THEIR CHOICE TOWARDS IMPROVED YIELDS
AND LIVELIHOODS. THE NATION’S FARMER NEEDS AND CONSUMER DEMAND
PRESENTED PUBLIC-PRIVATE PARTNERSHIP (PPP) OPPORTUNITIES FOR MIL TO
PARTICIPATE ACROSS THE FIVE STATES OF UTTAR PRADESH, JAMMU & KASHMIR,
MAHARASHTRA, ODISHA, JHARKHAND AND UTTARANCHAL.
Hybrid Maize Yield
Enhancement Program,
Uttar Pradesh
This project aims to improve
crop yields, income, and
thus, transform the lives of
thousands of maize farmers
in Uttar Pradesh. Knowledge
on agri inputs and practices
are shared at farmer
education programs, live crop
demonstrations conducted,
and information disseminated
at state-exhibitions and
village-level exhibitions/fairs
to progressive farmers and
farming groups. Farmers
gained access to quality
inputs including Dekalb®
maize hybrid seeds, as well
as the latest agronomic
practices. The project
EHQHͤWHGIDUPHUVIURP
23,000 households in
19
Partnering Improvement
1,500 plus villages. The
average yield increased by 6-7
quintals per acre and farmers
now earn approx. Rs. 6,000 –
Rs. 7,000 incremental income.
Improving Maize Productivity
through Hybridization,
Jammu & Kashmir
This project aims to transform
over 25,000 maize farmers’
lives across 1,214 villages
in eight districts in Jammu
& Kashmir by improving
crop productivity. In
coordination with Department
of Agriculture, our Field
Team conducted crop
demonstrations enabling
farmers to increase yields
by approx. 40-65 per cent
per acre. Farmers now earn
approx. Rs. 5,000 – 6,000
incremental income per acre.
Maize hybrid seed usage is up
25 per cent from 15 per cent in
the past with better agronomic
practices. Improved farmer
income has set positive trends
for maize in the State.
Integrated Agriculture
Development, Maharashtra
In 2012, MIL participated in
Buldhana and Nandurbar
districts of Maharashtra to
improve productivity of
5,000 farmers on approx.
4,000 acres through better
seeds and agronomic
SUDFWLFHV)DUPHUVEHQHͤWHG
from sharing of knowledge
related to right plant spacing,
better inputs and crop
management, and despite
GHͤFLHQWUDLQIDOO\LHOGV
increased by 6-10 quintals
per acre over earlier years.
The project has been
H[WHQGHGWRͤYHIROGWR
cover 25,000 acres in 2013.
PPP to Increase Maize
Productivity through
Hybridization, Odisha
Under the Rashtriya Krishi
Vikas Yojana (RKVY), MIL
partnered the Department of
Agriculture in a project to offer
maize growing as a choice to
5,746 farmers in 459 villages in
4 districts (Balangir, Nuapada,
Sonepur and Gajapati) in
2012-13. The team conducted
238 Farmer Awareness and
Education Programs along
with NGO partners and District
Agricultural authorities, and
maintained continued farmer
connect, enabling improved
farm performance. Average
farmers’ yields doubled with
Dekalb® maize hybrid seeds,
i.e. 1.5 – 2 tons per acre from
0.8-0.9 quintals per acre with
open pollinated varietal (OPV)
seeds, enabling farmers to earn
additional income of Rs. 6,0007,000 per acre.
PPP to Increase Maize
Productivity through
Hybridization, Jharkhand
Under Rashtriya Krishi Vikas
Yojana (RKVY), we were
chosen by the Department
of Agriculture, Jharkhand
to participate in a project
to increase productivity by
popularization of maize
K\EULGVHHGVLQͤYHGLVWULFWV
- Gadhwa, Palamau, Latehar,
Lohardagga and Ranchi. We
outreached to 6,671 farmers
in 159 villages through 230+
farmer awareness and training
programs, and 145 harvest
day events. Our dedicated
ͤHOGWHDPVKRZFDVHG'HNDOE®
maize hybrid seeds’ yield
superiority and enabled
farmers to yield 1.8-2.0
tons per acre. Additionally,
favourable market prices
enabled farmers to earn
incremental income of
Rs. 5,000 – 7,000 per acre.
Project Drishti, Uttaranchal
Project Drishti encouraged
farmers in Uttaranchal to
upgrade from open pollinated
varietal (OPV) seeds to maize
hybrid seeds, and educated
them on improved agronomic
practices towards increasing
income and quality of life of
300 farmers in 91 villages.
The team outreached to
575+ farmers across four
districts through crop
demonstration activities.
Crop yields increased by 50
to 100 per cent with maize
hybrid seeds compared with
OPV cultivation, and farmers
earned incremental income of
Rs. 5,000 – 7,000 per acre.
By way of the above PublicPrivate Partnerships (PPPs),
we have contributed in making
a positive difference to approx.
1 lakh farmers. Additionally,
we engaged with the State
governments in Rajasthan
and Madhya Pradesh under
various initiatives to extend
better quality products and
create shared value for
over two lakh farmers in
these States.
Jitendra Joshi
Manager - Projects
“CHOICES ENABLE
FARMERS TO
ACCESS CUTTINGEDGE SEEDS AND
AGRONOMIC
PRACTICES IN
THE BRAND AND
CHANNEL OF THEIR
CHOICE TOWARDS
IMPROVED YIELDS
AND LIVELIHOODS.”
20
PARTNERING
COMMUNITIES
SUSTAINABILITY AND CSR PARTNERSHIPS AND PROGRAMS
IN PARTNERSHIP WITH EIGHT NGOS — THE INDIAN SOCIETY OF AGRIBUSINESS
PROFESSIONALS (ISAP), AKSHAYA PATRA, PRADAN, ACCESS DEVELOPMENT SERVICES,
SIKSHANA, CARE, JKWS, AND DESHKAL — WE ARE HELPING IMPROVE LIVES OF 143,000
FARMING FAMILIES THROUGH SUSTAINABLE AGRICULTURE; IMPROVING LEARNING
LEVELS OF 57,000 CHILDREN; ENHANCING FOOD AND NUTRITIONAL SECURITY OF
150,000 CHILDREN VIA THE MID-DAY MEAL PROGRAM; AND SUPPORTING 10,000
FAMILIES THROUGH DISASTER REHABILITATION.
21
Partnering Communities
Sustainability
partnerships and
programs
Project SHARE
(Sustainable Harvest –
Agriculture, Resources,
Environment)
Project SHARE
(Sustainable Harvest –
Agriculture, Resources,
Environment) in
partnership with the
NGO Indian Society for
Agribusiness Professionals
(ISAP), is improving lives
of 10,000 small and
marginal farmers in 11,000
villages across Andhra
Pradesh, Maharashtra and
Rajasthan. Increased crop
productivity and income is
being enabled by access
to better farm inputs,
knowledge on improved
farming practices, creation
of farmer and women
self-help groups, and
market linkages.
Monsanto’s BeachellBorlaug International
Scholars Program
(MBBISP)
Honoring the
achievements of Henry
Beachell, Ph.D. and
Norman Borlaug, Ph.D.
(who pioneered plant
breeding and research in
rice and wheat), 16 young
Indian agriculture students
received the prestigious
Monsanto BeachellBorlaug International
Scholars Program
(MBBISP) Research
Fellowships thus far. Rice
and wheat are critical
to India’s food security.
Students are encouraged
to undertake new plant
breeding research towards
enabling farmers to
increase rice and wheat
production to meet
food needs.
Food and Nutrition
Security for children,
Rajasthan
In partnership with the
NGO Akshaya Patra
Foundation, this is
enhancing food and
nutritional security for
150,000 school children
in Rajasthan via the
school mid-day meal
program. We helped setup
kitchen gardens and a
solar dehydration plant to
ensure year-round supply
of nutritious vegetables for
school children.
Disaster Rehabilitation
through Agriculture,
Karnataka and Andhra
Pradesh
The project aims at
providing rehabilitation
to agriculture-based
livelihoods of 10,000
farmers in 20 floodaffected villages of
Raichur, Karnataka, and
Mehboobnagar, Andhra
Pradesh, in partnership
with the NGO ACCESS
Development Services,
by restoring cultivable
land, improving
agronomic practices,
streamlining quality inputs,
developing farmer-based
institutions, and facilitating
market linkages.
Sustainable Agriculture,
Odisha
In partnership with NGO
PRADAN (Professional
Assistance for
Development Action), this
project aims to improve
lives of 3,000+ agrarian
households in 240
villages in Odisha through
integrated land and water
resource development,
improved farming systems
and better market
linkages.
Rural Education,
Karnataka
This school nurturing
project, in partnership with
NGO Sikshana Foundation,
is improving learning
levels of 7,500 children
from Karnataka’s farming
communities through
various programs on
reading, writing, motivational
efforts and arithmetic. It
aims to provide a viable
model for a sustainable
and decentralized
educational process.
Rural Education, Bihar
NGO Deshkal Society with
the State Department of
Education are helping
improve learning levels
of 50,000 children from
193 Government primary
schools in Bihar; in
addition to enhancing
teacher capabilities.
Child Rights and
Education, Andhra
Pradesh
Partnering with the NGO
Jana Kalyan Welfare
Society (JKWS), the project
has provided safe drinking
water and enhanced
children’s education; and
is addressing child labour
issues in Andhra Pradesh’s
seed producing
farming communities.
Child Rights and
Education, Karnataka and
Andhra Pradesh
Along with improving
quality of education and
creating rural community
awareness on human
rights, this project is
addressing child labour
issues by focusing on
bringing children back to
schools in 62 villages in
Karnataka and Andhra
Pradesh, in partnership
with NGO Centre for
Applied Research &
Extension (CARE).
Christopher Samuel
Director - Public Affairs,
Sustainability & Corporate
Social Responsibility
“THE VALUE
CREATED AND
SHARED FROM
OUR INNOVATIVE
PRODUCTS,
SERVICES AND
PARTNERSHIPS
ENABLES US TO
IMPROVE LIVES
IN THE AREAS
OF SUSTAINABLE
AGRICULTURE,
NUTRITION,
EDUCATION,
HUMAN RIGHTS
AND DISASTER
REHABILITATION.”
22
PEOPLE @ A GREAT
PLACE TO WORK®
PEOPLE AT MONSANTO INDIA DEVELOP THEIR CAREERS IN A PURPOSE-DRIVEN,
COLLABORATIVE, GRASSROOTS CULTURE AND MATRIX STRUCTURE, HIGH ON
AUTONOMY, AND LEADING IN POSITION. PEOPLE ACCESS CROSS-FUNCTIONAL
EXPERIENCES AND FUNCTIONAL SPECIALIST OPPORTUNITIES, AIDING CAREER
LIFECYCLE GROWTH AND DEVELOPMENT.
Career Lifecycle
Management Learning & Growth
Opportunities
Purpose-Driven,
Open and
Collaborative
Environment
The open, collaborative
culture and matrix structure is
focused on helping each other
succeed. This ensures MIL is a
Great Place To Work®.
High on collaboration, crossfunctional teams are core to
the operating DNA, creating
an atmosphere for individuals
to bring their functional
perspective and achieve
shared results.
MIL aims to create an
environment that attracts
and retains talent with varied
education and experiences,
including being an employer
of choice for women,
which resulted in a threefold increase in women as
percentage of total hiring
in 2012-13 versus 2010.
Facilitating a safe environment
allows women to deliver in the
rigour of rural India, earning
MIL the distinction of hiring
women for Sales/Customerfacing roles.
MIL’s Employee Life Cycle
Management approach drives
talent needs assessment,
recruitment, induction, people
review, career planning, and
skill enhancement strategies.
Creating meaningful
employee engagement
through continuous learning
and growth opportunities
is essential to our Talent
Management Strategy. Our
Learning and Development
initiatives delivered at the
organization, functional team,
and individual levels are
based on a 70-20-10
Development Philosophy:
70% from On-The-Job
Experiences and Additional
Responsibilities
20% from Feedback from
Managers, Peers and
Mentors
10% from Formal Training,
Structured Inputs, and
Reading
To the statement “I am
proud to tell others I
work here” – 96% of MIL
employees vouched in
favor, while the external
best in class response
stood at 92%.
Alind Sharma
Director - Human Resources
“AT THE HEART IS A
PURPOSE-DRIVEN,
COLLABORATIVE,
GRASSROOTS
CULTURE, SHARED
BY ALL OUR PEOPLE.”
23
People @ A Great Place To Work®
In 2012-13, MIL introduced
“Monsanto Disha”, a New
Employee Orientation Program
of collaborative opportunities
for new colleagues to learn
about the Company Vision,
Business, Products and
Partnerships, the Monsanto
Way of Life, while interacting
and learning from leaders
across functions.
Employees and their managers
share equal stakes in personal
development as managers
provide opportunities for
people to develop. Further
Online Learning Resources,
Executive Coaching, and
customized, organizational
development and talent
management interventions are
other avenues.
Leadership
Development
In 2012-13, Monsanto
institutionalized its Leadership
Competency Model through
various Leadership Team
forums, People Leader
Learning Series (PLLS), the
Leadership 180 (L180), an
India Mentoring Program, and
internal communications.
Further, global platforms such
as the Global Leadership
Exchange (GLE), Asia Regional
Leadership Exchange (RLE),
and Global Mentoring Plus
(GMP) covering a crosssection of talent across
functions and levels, offered
people the opportunity
to develop superior skills
in Strategy, Product
Management, Supply Chain
and Technology.
The People Leader Learning
Series (PLLS), a nine-day
program on ‘Managing People
the Monsanto Way’, was relaunched with refreshed focus
on selection, direction setting,
motivating and developing,
assessing, managing diversity,
and work-life balance.
The Regional Leadership
Exchange (RLE). Every year,
emerging leaders from
India across functions are
nominated to participate in
a team-based, eight-month,
leadership exchange program
with colleagues and regional
leaders from South East
Asia, Australia-New Zealand,
and China. The RLE focuses
on critical thinking, creating
and implementing business
strategies, cultural sensitivity,
Safety is a priority
for MIL. Be it
our employees,
communities in which
we live and work,
customers, consumers
or the environment.
MIL nurtures Safety
and Health Excellence
by implementing
a world-class ESH
Management system,
including Occupational
Medicine and Vehicle
Safety components.
The MIL philosophy
includes Environment
Safety and Health
(ESH) compliance with
respect to Corporate
ESH and Indian
legal requirements.
Two manufacturing
locations extended
their Occupational
Health and Safety
(OHSAS 18001)
and Environment
Management
System (ISO 14001)
FHUWLͤFDWLRQVWKLV
ͤVFDOYDOLGDWLQJ0,/̵V
commitment to
the cause.
ͤQDQFLDODQGEXVLQHVV
acumen, personal leadership
identity, and leveraging the
matrix for greater innovation
DQGHIͤFLHQF\
Theme-based Behavioural
Training for Sales Teams.
Post identifying skill
development themes
for the Sales and Market
Development team to deliver
superior business results, MIL
worked with cross-functional
teams internally, and external
experts, to create MonsantoVSHFLͤFWUDLQLQJSURJUDPV
on managing the Customer,
Channel, Self and Teams.
MIL was thus once again
ranked among Top 100 of
India’s Best Companies to
Work 2012, including ranking
4th in Companies with less
than 1,000 Employees in
India’s Best Companies to
Work 2012 by the Great Place
To Work® Institute.
The second home of our
people – Monsanto
MIL Safety Focus
recognized as Best
Practice among
companies across all
industries in the Great
Place To Work® 2012
MIL’s Silvassa site
UHFHLYHGD&HUWLͤFDWH
of Commendation at
the 9th Confederation
of Indian Industry
(CII) Western Region
Safety, Health and
Environment (SHE)
Awards 2012
MIL employees
conducted several
voluntary Off-theJob Safety programs
across India reaching
100,000+ people
across the country
MIL achieved the
global Monsanto
ESH Vision of
Zero Fatalities and
Debilitating Injuries,
and reported zero
accidents in 2012-13
Mahesh Chandak
Lead - ESH and Human Rights
“AT MONSANTO
INDIA, OUR
MANAGERS
DEMONSTRATE
SAFETY
LEADERSHIP AND
OUR EMPLOYEES
DEMONSTRATE
HIGH SAFETY
AWARENESS,
OWNERSHIP AND
ACCOUNTABILITY.
OUR SAFETY AND
HUMAN RIGHTS
PROGRAMS
IMPROVE THE LIVES
OF PEOPLE IN THE
COMMUNITIES
WHERE WE
OPERATE.”
24
PROFILE OF THE BOARD
OF DIRECTORS
Sekhar Natarajan, Chairman
Sekhar Natarajan has spent almost 30 years in Monsanto, guiding and building its contributions
to Indian agriculture. Mr. Natarajan provides strategic counsel, offers business guidance and
represents the Company at industry forums. Prior to this role, he held several leadership positions
DFURVVIXQFWLRQV̰&KLHI)LQDQFLDO2IͤFHU%XVLQHVV'HYHORSPHQW+HDG6DOHVDQG0DUNHWLQJ+HDG
and Global Corporate Strategy Lead at Monsanto’s headquarters in St. Louis, USA. Mr. Sekhar
1DWDUDMDQLVDTXDOLͤHG&KDUWHUHG$FFRXQWDQWDQG&RVW$FFRXQWDQW+HLVDVWUDWHJLFWKLQNHUZLWK
rich global experience in Business Development and Mergers and Acquisitions (M&A). Currently,
he is also a Managing Partner of M/s. S.N. Consultants that provides advice and strategic
directions to several local and international companies.
Dr. Gyanendra Shukla, Managing Director
Dr. Gyanendra Shukla leads the team in developing strategy to achieve the Company’s vision for
sustainable agriculture. A 24-year agriculture sector veteran, Dr. Shukla has served successfully
in varied roles of increasing responsibility spanning Technology Development, Regulatory, Sales
&XVWRPHU6HUYLFH6XVWDLQDELOLW\DQG&RUSRUDWH$IIDLUVDFURVVWKH,QGLDDQG$VLD3DFLͤFUHJLRQV
he was also the Country Manager of the Monsanto Company’s business in Indonesia where he reestablished the Roundup® business, and helped lay the foundation for the maize business.
Dr. Shukla was named Fellow of Indian Society of Weed Science in recognition for his contributions
to farmers and the industry. Besides, he also received numerous other external and internal
recognitions. He also represents the Company to the National Seed Association of India (NSAI),
Association of Biotech-Led Enterprises – Agriculture Group (ABLE-AG), and industry chambers.
Dr. Shukla holds a B.S. in Agronomy from G.B Pant University of Agriculture and Technology,
a Ph.D. in Agriculture Botany from Kanpur University and an MBA from S.P. Jain Institute of
Management & Research in Mumbai. Prior to joining Monsanto, he worked in senior positions for
Ciba-Geigy (now Syngenta) and Hoechst (now Bayer CropScience) in technology development
roles focusing on development of insecticides, fungicides and herbicides.
Pradeep Poddar, Director
Mr. Pradeep Poddar is currently the Managing Director of Mount Everest Mineral Water Limited,
a Tata Enterprise, and is leading the Tata’s foray into water and functional beverages globally. He
represents the Tata’s interests on the Boards of Nourishco – the Joint Venture Company with
Pepsico and the Rising Beverage Company (Activate Beverages) in the US. He is also a trustee on
the Board of United Way, Mumbai. He joined the MIL Board in January 2006.
Mr. Poddar has vast experience in the consumer goods industry, having served in senior
management at Glaxo, Heinz and the Tata Group. The Wisitex Foundation and Karnataka
Government conferred on him the Udyog Ratna Award in 2001 for his distinguished contribution to
the food industry. Mr. Poddar is a Chemical Engineer from UDCT, Mumbai, and has an MBA from
IIM, Ahmedabad.
25
3URͤOHRIWKH%RDUGRI'LUHFWRUV
Ravinder K. Reddy, Director
Mr. Ravinder K. Reddy leads Manufacturing for the India region and is responsible for managing
ͤHOGSURGXFWLRQRSHUDWLRQVDQGFDSLWDOSURMHFWV+HKDVDYDVWH[SHULHQFHLQSURGXFWLRQDQG
manufacturing of seeds of maize, cotton and other row crops. He is instrumental in strategy
development for the company’s seeds, and implementation of long-term business growth plans,
further Plant/Production infrastructure expansion - planning and execution, and also to improve
and enlarge local seed production programme to meet future domestic and export demand. He
has also taken many steps towards cost improvement in both production and operations.
Mr. Reddy has worked with Monsanto for 20 years cumulatively. He began his career with Cargill
Seeds in 1990, and subsequently held many assignments in Row Crop Manufacturing with
increasing responsibility, from General Manager - Operations, Lead - India Seed Supply, to Lead 6HHG2SHUDWLRQVIRUWKH1RUWKDQG6RXWK$VLD3DFLͤF5HJLRQIURP6LQJDSRUH)URPKHWRRN
on expanded responsibility of India, China and Pakistan row crop manufacturing operations based
out of India. Mr. Reddy is a post Graduate in Agricultural Sciences from the ANGRAU University,
Andhra Pradesh.
H. C. Asher, Director
Mr. H. C. Asher holds M.A. and LL.B. degrees from the Mumbai University. He is a Senior Partner
RI0V&UDZIRUG%D\OH\&RDOHDGLQJͤUPRI$GYRFDWHVDQG6ROLFLWRUVLQ0XPEDLDQGLVDZHOO
recognized expert in corporate and commercial laws. Mr. Asher is also a Director on the Boards of
many other reputed companies. He joined the Board of MIL in 1973.
R. C. Khanna, Director
0U5&.KDQQDKROGVYDULRXVTXDOLͤFDWLRQVLQFOXGLQJ%&RP/RQG)&$(QJ:DOHV$&0$
FCA and AICWA. Mr. Khanna retired as the Senior Partner of M/s. A.F. Ferguson & Co., Chartered
Accountants in 1989. He joined the Board of MIL in 1975. He has a vast experience in matters
UHODWLQJWRFRUSRUDWHͤQDQFHDQGWD[DWLRQ
26
127,&(
Notice is hereby given that the 63rd Annual General Meeting of the Members of Monsanto India Limited will be held on Friday,
2nd August, 2013 at 11.30 a.m. at Rangaswar Hall, Y. B. Chavan Centre, 4th Floor, Gen. Jaganath Bhosale Marg, Nariman Point,
Near Sachivalay Gymkhana, Mumbai – 400 021, to transact the following business:
Ordinary Business:
1.
To receive, consider and adopt the Balance Sheet as at 31st0DUFKDQGWKH6WDWHPHQWRI3URͤWDQG/RVVIRUWKH\HDU
ended on that date, together with the reports of the Board of Directors and the Auditors thereon.
2.
To declare a dividend.
3.
To appoint a Director in place of Mr. H. C. Asher, who retires by rotation and, being eligible, offers himself for re-appointment.
4.
To appoint a Director in place of Mr. Pradeep Poddar, who retires by rotation and, being eligible, offers himself
for re-appointment.
5.
To appoint M/s. Deloitte Haskins & Sells, Chartered Accountants (Registration No.117366W), Mumbai, as Statutory
$XGLWRUVWRKROGRIͤFHIURPWKHFRQFOXVLRQRIWKLVPHHWLQJXQWLOFRQFOXVLRQRIWKHQH[W$QQXDO*HQHUDO0HHWLQJDQGWR
DXWKRUL]HWKH%RDUGRI'LUHFWRUVWRͤ[WKHLUUHPXQHUDWLRQ
Special Business:
7RFRQVLGHUDQGLIWKRXJKWͤWWRSDVVZLWKRUZLWKRXWPRGLͤFDWLRQVWKHIROORZLQJUHVROXWLRQDVDQ2UGLQDU\5HVROXWLRQ
̸5(62/9(' 7+$7 SXUVXDQW WR 6HFWLRQ RI WKH &RPSDQLHV $FW WKH ̸$FW̹ DQG WKH $UWLFOHV RI WKH $UWLFOHV
of Association of the Company, Mr. Gyanendra Shukla who was appointed as an Additional Director with effect from 1st
0DUFKE\WKH%RDUGRI'LUHFWRUVRIWKH&RPSDQ\WRKROGRIͤFHXSWRWKHGDWHRIHQVXLQJ$QQXDO*HQHUDO0HHWLQJ
and in respect of whom the Company has received a notice in writing along with deposit of ` 500/- from a member of the
&RPSDQ\SXUVXDQWWRWKHSURYLVLRQVRI6HFWLRQRIWKH$FWSURSRVLQJKLVFDQGLGDWXUHIRUWKHRIͤFHRI'LUHFWRURIWKH
&RPSDQ\EHDQGLVKHUHE\DSSRLQWHGDVD'LUHFWRURIWKH&RPSDQ\̹
7RFRQVLGHUDQGLIWKRXJKWͤWWRSDVVZLWKRUZLWKRXWPRGLͤFDWLRQVWKHIROORZLQJUHVROXWLRQDVD6SHFLDO5HVROXWLRQ
̸5(62/9('7+$7SXUVXDQWWRWKHSURYLVLRQVRI6HFWLRQDQGUHDGZLWK6FKHGXOH;,,,DQGVXFKRWKHUDSSOLFDEOH
SURYLVLRQVLIDQ\RIWKH&RPSDQLHV$FWKHUHLQDIWHUUHIHUUHGWRDV̸WKH$FW̹IRUWKHWLPHEHLQJLQIRUFHLQFOXGLQJ
DQ\VWDWXWRU\PRGLͤFDWLRQVRUDQ\DPHQGPHQWRUDQ\VXEVWLWXWLRQRUUHHQDFWPHQWWKHUHRIIURPWLPHWRWLPHDSSURYDORI
the shareholders be and is hereby accorded to the appointment of Mr. Gyanendra Shukla as the Managing Director of the
Company, with effect from 1st0DUFKWRth February, 2016.
5(62/9(')857+(57+$7DSSURYDOEHDQGLVKHUHE\DFFRUGHGWRWKHUHPXQHUDWLRQSHUTXLVLWHVEHQHͤWVDQGDPHQLWLHV
payable as per the terms and conditions of the Agreement entered into by the Company with Mr. Gyanendra Shukla for the
aforesaid appointment and as set out in this notice; with authority to the Board of Directors of the Company to alter and/or
vary the terms and conditions of the said appointment in accordance with, if any, the prescribed provisions of the Act and/
or any schedules thereto.
5(62/9(')857+(57+$7LQWKHHYHQWRIORVVRULQDGHTXDF\RISURͤWVLQDQ\ͤQDQFLDO\HDUGXULQJWKHDIRUHVDLGSHULRG
WKH&RPSDQ\ZLOOSD\0U*\DQHQGUD6KXNODUHPXQHUDWLRQSHUTXLVLWHVEHQHͤWVDQGDPHQLWLHVQRWH[FHHGLQJWKHFHLOLQJ
ODLGGRZQLQ6HFWLRQ,,RI3DUW,,RI6FKHGXOH;,,,RIWKH&RPSDQLHV$FWDVPD\EHGHFLGHGE\WKH%RDUGRI'LUHFWRUV
subject to necessary sanctions and approvals.
27
Notice
5(62/9(')857+(57+$7WKH%RDUGRI'LUHFWRUVRIWKH&RPSDQ\EHDQGLVKHUHE\DXWKRULVHGWRHQKDQFHHQODUJHDOWHU
RUYDU\WKHVFRSHDQGTXDQWXPRIUHPXQHUDWLRQSHUTXLVLWHVEHQHͤWVDQGDPHQLWLHVSD\DEOHWR0U*\DQHQGUD6KXNODIURP
time to time, which revision should be made in conformity with any amendments to the relevant provisions of the Act and/
or rules and regulations made thereunder and/or such guidelines as may be announced by the Central Government from
time to time.
5(62/9(')857+(57+$7WKH%RDUGRI'LUHFWRUVRIWKH&RPSDQ\EHDQGLVKHUHE\DXWKRULVHGWRVHWWOHDQ\TXHVWLRQ
GLIͤFXOW\RUGRXEWWKDWPD\DULVHLQJLYLQJHIIHFWWRWKLVUHVROXWLRQGRDOOVXFKDFWVGHHGVPDWWHUVDQGWKLQJVDVPD\EH
QHFHVVDU\DQGVLJQDQGH[HFXWHDOOGRFXPHQWVRUZULWLQJVDVPD\EHQHFHVVDU\SURSHURUH[SHGLHQWIRUWKHSXUSRVHRI
JLYLQJHIIHFWWRWKLVUHVROXWLRQDQGIRUPDWWHUVFRQFHUQHGWKHUHZLWKRULQFLGHQWDOWKHUHWR̹
Explanatory Statement
3XUVXDQWWR6HFWLRQRIWKH&RPSDQLHV$FW
Item No. 6
7KH%RDUGRI'LUHFWRUVDWLWVPHHWLQJKHOGRQth January, 2013, appointed Mr. Gyanendra Shukla as an Additional Director
with effect from 1st 0DUFK SXUVXDQW WR 6HFWLRQ RI WKH &RPSDQLHV $FW DQG SXUVXDQW WR $UWLFOH RI
WKH$UWLFOHVRI$VVRFLDWLRQRIWKH&RPSDQ\0U*\DQHQGUD6KXNODKROGVRIͤFHXSWRGDWHRIWKHHQVXLQJ$QQXDO*HQHUDO
Meeting. The Company has received a notice, along with deposit of ` 500/-, pursuant to Section 257 of the Companies Act,
IURPDPHPEHUSURSRVLQJDSSRLQWPHQWRI0U*\DQHQGUD6KXNODDVD'LUHFWRU
With a career spanning over 24 years, during his 16 years’ association with Monsanto, Mr. Gyanendra Shukla has held various
OHDGHUVKLSSRVLWLRQVDFURVVIXQFWLRQV0U*\DQHQGUD6KXNODMRLQHG0RQVDQWRLQDVD1DWLRQDO3URGXFW'HYHORSPHQW
0DQDJHU )URP WR KH VKRZHG JUHDW YHUVDWLOLW\ ZLWK DFFRPSOLVKHG VWLQWV LQ 7HFKQRORJ\ 'HYHORSPHQW7'
Regulatory and Sales. He was the Technology Development Lead for South Asia and later the National Sales Manager
for India in 2006 before he moved to Indonesia as the Country Lead. Mr. Gyanendra Shukla led Indonesia ably in a trying
period re-establishing Roundup®, laying foundation for corn growth and negotiating various Corporate Affairs’ challenges.
,QHDUO\KHPRYHGWR6LQJDSRUHDVWKH7'/HDGIRUWKH$VLD3DFLͤF5HJLRQDQGHQGRIKHPRYHGEDFNWR,QGLD
as the India Region Corporate Affairs Lead.
Honoring his invaluable contribution to Monsanto and the biotech industry, he has been a recipient of various recognitions
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Biotechnology Industry Associations in India.
Your directors recommend the appointment of Mr. Gyanendra Shukla as Director of the Company.
1RQHRIWKH'LUHFWRUVRIWKH&RPSDQ\H[FHSW0U*\DQHQGUD6KXNODLVLQWHUHVWHGRUFRQFHUQHGLQWKHSURSRVHGUHVROXWLRQ
Item No. 7
7KH%RDUGRI'LUHFWRUVDWLWVPHHWLQJKHOGRQth January, 2013, appointed Mr. Gyanendra Shukla as Managing Director
of the Company for a period of three years with effect from 1st March, 2013. The Board of Directors at its meeting held on
27th February, 2013, approved the salary and all other terms and conditions of appointment of the said Managing Director,
subject to the approval of the shareholders in a general meeting.
The material terms and conditions of appointment of Mr. Gyanendra Shukla, as contained in the Agreement between the
Company and Mr. Gyanendra Shukla are as follows:
Sr. No.
Elements
Rupees
(i)
Basic Salary
` 5,750,000/- per annum
(ii)
2WKHU$OORZDQFHV
` 2,371,233/- per annum (including Conveyance Allowance of
` SD
(iii)
Incentive, Performance Bonus
and Increment
As determined by the Board of Directors/ Remuneration Committee
from time to time and within the overall Company’s Scheme
(iv)
House Rent Allowance [HRA]
As per Company’s Scheme.
28
Sr. No.
Elements
Rupees
(v)
0HGLFDO%HQHͤWV
a)
Mediclaim Policy as per Company’s scheme.
b)
5HLPEXUVHPHQWRIPHGLFDOH[SHQVHVWRWKHH[WHQWRI` 21,000/per annum.
(vi)
Leave Travel Allowance
(vii)
Insurance
`SHUDQQXPRQHPRQWK̵VEDVLFVDODU\
Group Personal Accident Policy: As per Company’s Scheme.
In addition, the cost of insurance cover against the risk of any
ͤQDQFLDOOLDELOLW\RUORVVEHFDXVHRIDQ\HUURURIMXGJPHQWDVWKH
Managing Director of the Company, as may be approved by the
Board of Directors from time to time.
(viii)
Leave entitlement
L[
Contribution to the Provident
Fund, Superannuation Fund or
any other Fund
[
Gratuity
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[L
Automobile
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lieu thereof) as per the rules of the Company.
[LL
Communication facility
Mobile phone and residence landline telephone facilities will be
reimbursed.
[LLL
6WRFN2SWLRQVRU6WRFN
Appreciation Rights Plan (SAR) or
5HVWULFWHG6WRFN8QLWV568
(OLJLEOHWRSDUWLFLSDWHLQWKH6WRFN2SWLRQV6WRFN$SSUHFLDWLRQ5LJKWV
3ODQVHWFDVLQH[LVWHQFHWREHGHFODUHGE\WKH0RQVDQWR&RPSDQ\
86$IURPWLPHWRWLPHLQFOXGLQJ568JUDQWHGLIDQ\
[LY
The terms and conditions of the said appointment and/or agreement may be altered, enhanced or varied
IURPWLPHWRWLPHE\WKH%RDUGDVLWPD\LQLWVGLVFUHWLRQGHHPͤW
[Y
7KH$JUHHPHQWPD\EHWHUPLQDWHGE\HLWKHUSDUW\JLYLQJWKHRWKHUSDUW\GD\V̵QRWLFH7KH&RPSDQ\PD\DW
its sole discretion relieve the Managing Director of his duties any time during his notice period and, in that event,
KHZLOOEHSDLGKLVEDVLFVDODU\IRUWKHEDODQFHRIWKHQRWLFHSHULRGRIQLQHW\GD\V7KH0DQDJLQJ'LUHFWRU
VKDOOQRWEHHQWLWOHGWRDQ\RWKHUSD\PHQWGXULQJWKHDIRUHVDLGEDODQFHRIWKHQRWLFHSHULRGRIQLQHW\GD\V
[YL
The Managing Director shall not be entitled to receive any fees for attending meetings of the Board.
* Conveyance amount of ` 9,600 p.a. will not be paid if company provided car is availed.
** As per the Gratuity Act/ Company policy.
1RWZLWKVWDQGLQJDQ\WKLQJWRWKHFRQWUDU\KHUHLQFRQWDLQHGZKHUHLQDQ\ͤQDQFLDO\HDUWKH&RPSDQ\KDVQRSURͤWVRULWVSURͤWV
DUHLQDGHTXDWHWKH&RPSDQ\ZLOOSD\WKHUHPXQHUDWLRQVHWLQWKHDJUHHPHQWVDVPLQLPXPUHPXQHUDWLRQWRWKH0DQDJLQJ
'LUHFWRUVXEMHFWWRVXFKDSSURYDOVDVPD\EHUHTXLUHGXQGHUWKHDSSOLFDEOHSURYLVLRQVRIWKH&RPSDQLHV$FWDQGRUDQ\
other applicable laws.
In addition to the above, upon the recommendation of the Remuneration Committee, the Managing Director will be eligible for
annual incentive. The said annual incentive compensation will be variable and does not guarantee a minimum payment to the
Managing Director. The funding of the annual incentive plan is at the sole discretion of the Company and may be amended in
whole or in part or be terminated by the Company at any point of time.
7KH$JUHHPHQWLVDYDLODEOHIRULQVSHFWLRQE\WKHPHPEHUVRIWKH&RPSDQ\DWLWV5HJLVWHUHG2IͤFHDW$KXUD&HQWUHth)ORRU
0DKDNDOL&DYHV5RDG$QGKHUL(DVW0XPEDLEHWZHHQSPDQGSPRQDQ\ZRUNLQJGD\RIWKH&RPSDQ\
up to the date of Annual General Meeting.
$EVWUDFWRIWKH$JUHHPHQWSXUVXDQWWRWKHSURYLVLRQVRI6HFWLRQRIWKH&RPSDQLHV$FWKDVDOUHDG\EHHQFLUFXODWHG
to the members.
29
Notice
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EHIXUQLVKHGXQGHU&ODXVH9,RIWKH/LVWLQJ$JUHHPHQWLVSURYLGHGLQWKHUHOHYDQWVHFWLRQRQ&RUSRUDWH*RYHUQDQFH
1RQHRIWKH'LUHFWRUVRWKHUWKDQ0U*\DQHQGUD6KXNODLVLQWHUHVWHGLQWKLV5HVROXWLRQ7KH%RDUGRI'LUHFWRUVUHFRPPHQGVWKH
DIRUHVDLGUHVROXWLRQIRU\RXUDSSURYDO
NOTES:
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Composition
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Table1: Composition of the Board of Directors
Name of the Director
DIN
Category
Attendance
At the
Board
Meetings
At the
last
AGM
No. of the
Directorship(s)(1)
Committee position(2)
Chairman (3)
Member
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@ Mr. Amitabh Jaipuria resigned as the Managing Director and as a Director of your Company with effect from 28th February, 2013
# Mr. Gyanendra Shukla appointed as an Additional Director and the Managing Director of the Company with effect from 1st March, 2013.
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Audit Committee
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Table 2: Attendance Details in the Audit Committee Meetings
Name of the Member
Meetings Held
Attendance
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Table 3: Attendance Details in the Remuneration Committee Meetings
Name of the Member
Meetings Held
Attendance
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Table 4: Attendance details in the Investors’ Grievances Committee Meeting
Name of the Member
Meetings Held
Attendance
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Shareholding Pattern
Category
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17,718
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Source: Economic Survey 2012-13
Farmer’s Forum
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52
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EQUITY AND LIABILITIES
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103.66
30.02
35.25
168.93
594.04
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2.41
89.16
3.60
8.35
101.11
250.94
139.38
41.23
20.33
29.22
11.83
492.93
594.04
538.13
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388.92
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67.34
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&RVWRI:RUNLQ3URJUHVVDQG)LQLVKHG*RRGVPDQXIDFWXUHGDUHGHWHUPLQHGE\WKHDEVRUSWLRQFRVWLQJPHWKRG
(H) Revenue Recognition:
L
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5HYHQXH RQ VDOH RI SURGXFWV LV UHFRJQLVHG RQ GHOLYHU\ RI WKH SURGXFWV ZKHQ DOO VLJQLͤFDQW FRQWUDFWXDO
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RIRZQHUVKLSKDYHEHHQWUDQVIHUUHGDQGQRHIIHFWLYHRZQHUVKLSFRQWUROLVUHWDLQHG
6DOHVDUHVWDWHGLQFOXVLYHRIH[FLVHGXW\DQGQHWRIUHWXUQVWUDGHGLVFRXQWVDQGVDOHVWD[UHFRYHUHG7KHDPRXQW
RIH[FLVHGXW\WKDWLVLQFOXGHGLQWKHDPRXQWRIWXUQRYHUJURVVLVSUHVHQWHGDVDUHGXFWLRQIURPJURVVVDOHVLQ
DFFRUGDQFHZLWKWKH$FFRXQWLQJ6WDQGDUG$6̸5HYHQXH5HFRJQLWLRQ̹
LL 5HYHQXHLQUHVSHFWRIUR\DOW\FRPPLVVLRQHWFLVUHFRJQL]HGLQDFFRUGDQFHZLWKFRQWUDFWXDOREOLJDWLRQV
LLL ,QWHUHVWLQFRPHLVUHFRJQL]HGRQDWLPHSURSRUWLRQEDVLV
(I)
Foreign Currency Transactions:
L
7UDQVDFWLRQVLQIRUHLJQFXUUHQF\DUHUHFRUGHGDWWKHH[FKDQJHUDWHVSUHYDLOLQJRQWKHGDWHRIWKHWUDQVDFWLRQ
RUDWUDWHVWKDWFORVHO\DSSUR[LPDWHWKHUDWHDWWKHGDWHRIWKHWUDQVDFWLRQ([FKDQJHGLIIHUHQFHVDULVLQJRQ
VHWWOHPHQWRIUHYHQXHWUDQVDFWLRQVDUHUHFRJQL]HGLQWKHVWDWHPHQWRISURͤWDQGORVV
LL 0RQHWDU\LWHPVGHQRPLQDWHGLQIRUHLJQFXUUHQF\DUHUHVWDWHGXVLQJWKHH[FKDQJHUDWHVSUHYDLOLQJDWWKHGDWHRI
WKHEDODQFHVKHHW*DLQV/RVVHVDULVLQJRQUHVWDWHPHQWDQGRQVHWWOHPHQWRIVXFKOLDELOLWLHVDUHUHFRJQL]HGLQ
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LL 6XSHUDQQXDWLRQIXQGLVDGHͤQHGFRQWULEXWLRQVFKHPH7KH&RPSDQ\FRQWULEXWHVDVXPHTXLYDOHQWWRRI
HOLJLEOHHPSOR\HHVVDODU\WR6XSHUDQQXDWLRQ)XQGDGPLQLVWHUHGE\7UXVWHHVDQGPDQDJHGE\DOLIHLQVXUDQFH
&RPSDQ\7KH&RPSDQ\UHFRJQL]HVVXFKFRQWULEXWLRQDVDQH[SHQVHDVDQGZKHQLQFXUUHG
LLL 7KH&RPSDQ\SDUWLFLSDWHVLQDJURXSJUDWXLW\FXPOLIHLQVXUDQFHVFKHPHDGPLQLVWHUHGE\WKH7$7$$,*/LIH
,QVXUDQFH&RPSDQ\/WG%HLQJDGHͤQHGEHQHͤWSODQDQQXDOFRQWULEXWLRQVPDGHWRWKHVFKHPHDUHDVSHUWKH
LQWLPDWLRQVUHFHLYHGIURPWKH7$7$$,*/LIH,QVXUDQFH&RPSDQ\/WG7KH&RPSDQ\DFFRXQWVIRUOLDELOLW\IRU
IXWXUHJUDWXLW\EHQHͤWVEDVHGRQDQDFWXDULDOYDOXDWLRQFRQGXFWHGE\DQLQGHSHQGHQWDFWXDU\7KHQHWSUHVHQW
YDOXHRIWKH&RPSDQ\̵VREOLJDWLRQLVGHWHUPLQHGEDVHGRQWKHSURMHFWHGXQLWFUHGLWPHWKRGDVDWWKH%DODQFH
6KHHWGDWH$GGLWLRQDOO\VKRUWIDOOLIDQ\EHWZHHQWKHEDODQFHLQWKHIXQGZLWK7DWD$,*/LIH,QVXUDQFH&RPSDQ\
/WGDQGDFWXDULDOYDOXDWLRQREWDLQHGIURPDQLQGHSHQGHQWDFWXDU\LVFKDUJHGWRWKHVWDWHPHQWRISURͤWDQGORVV
LY 7KHXQGLVFRXQWHGDPRXQWRIVKRUWWHUPHPSOR\HHEHQHͤWVH[SHFWHGWREHSDLGLQH[FKDQJHIRUWKHVHUYLFHV
UHQGHUHGE\DQHPSOR\HHLVUHFRJQL]HGGXULQJWKHSHULRGZKHQWKHHPSOR\HHUHQGHUVWKHVHUYLFH7KHVHEHQHͤWV
LQFOXGHSHUIRUPDQFHLQFHQWLYHVDQGQRQYHVWLQJDFFXPXODWHGFRPSHQVDWHGDEVHQFHV
$QQXDO5HSRUW
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(K) Earnings per Share:
7KH&RPSDQ\UHSRUWV(DUQLQJVSHU6KDUH(36LQDFFRUGDQFHZLWK$FFRXQWLQJ6WDQGDUGRQ(DUQLQJVSHU6KDUH
%DVLF (36 LV FRPSXWHG E\ GLYLGLQJ WKH QHW SURͤW IRU WKH \HDU E\ WKH ZHLJKWHG DYHUDJH QXPEHU RI HTXLW\ VKDUHV
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(L) Taxation:
,QFRPHWD[LVDFFRXQWHGIRULQDFFRUGDQFHZLWK$FFRXQWLQJ6WDQGDUGRQ$FFRXQWLQJIRU7D[HVRQ,QFRPH7D[HV
FRPSULVHERWKFXUUHQWDQGGHIHUUHGWD[
&XUUHQWWD[LVPHDVXUHGDWWKHDPRXQWH[SHFWHGWREHSDLGWRWKHWD[DWLRQDXWKRULWLHVXVLQJWKHDSSOLFDEOHWD[UDWHV
DQGWD[ODZV
7KHWD[HIIHFWRIWKHWLPLQJGLIIHUHQFHVWKDWUHVXOWEHWZHHQWD[DEOHLQFRPHDQGDFFRXQWLQJLQFRPHDQGDUHFDSDEOH
RIUHYHUVDOLQRQHRUPRUHVXEVHTXHQWSHULRGVDUHUHFRUGHGDVDGHIHUUHGWD[DVVHWRUGHIHUUHGWD[OLDELOLW\7KH\DUH
PHDVXUHGXVLQJWKHVXEVWDQWLYHO\HQDFWHGWD[UDWHVDQGWD[UHJXODWLRQV7KHFDUU\LQJDPRXQWRIGHIHUUHGWD[DVVHWV
DWHDFKEDODQFHVKHHWGDWHLVUHGXFHGWRWKHH[WHQWWKDWLWLVQRORQJHUUHDVRQDEO\FHUWDLQWKDWVXIͤFLHQWIXWXUHWD[DEOH
LQFRPHZLOOEHDYDLODEOHDJDLQVWZKLFKWKHGHIHUUHGWD[DVVHWFDQEHUHDOL]HG
(M) Operating Lease:
2SHUDWLQJOHDVHSD\PHQWVDUHUHFRJQL]HGDVH[SHQGLWXUHLQWKHVWDWHPHQWRISURͤWDQGORVVRQDVWUDLJKWOLQHEDVLV
ZKLFKLVUHSUHVHQWDWLYHRIWKHWLPHSDWWHUQRIEHQHͤWVUHFHLYHGIURPWKHXVHRIDVVHWVWDNHQRQOHDVH
(N) Provisions, Contingent Liabilities and Contingent Assets:
3URYLVLRQV LQYROYLQJ D VXEVWDQWLDO GHJUHH RI HVWLPDWLRQ LQ PHDVXUHPHQW DUH UHFRJQL]HG ZKHQ WKHUH LV D SUHVHQW
REOLJDWLRQDVDUHVXOWRISDVWHYHQWVDQGLWLVSUREDEOHWKDWWKHUHZLOOEHDQRXWIORZRIUHVRXUFHV&RQWLQJHQWOLDELOLWLHV
DUH QRW UHFRJQL]HG EXW DUH GLVFORVHG LQ WKH ͤQDQFLDO VWDWHPHQWV &RQWLQJHQW DVVHWV DUH QHLWKHU UHFRJQL]HG QRU
GLVFORVHGLQWKHͤQDQFLDOVWDWHPHQWV
(O) Cash Flow Statement:
7KH &DVK )ORZ 6WDWHPHQW LV SUHSDUHG E\ WKH LQGLUHFW PHWKRG VHW RXW LQ $FFRXQWLQJ 6WDQGDUG ̰ RQ &DVK )ORZ
6WDWHPHQWDQGSUHVHQWVFDVKIORZVE\RSHUDWLQJLQYHVWLQJDQGͤQDQFLQJDFWLYLWLHVRIWKH&RPSDQ\&DVKDQGFDVK
HTXLYDOHQWV SUHVHQWHG LQ WKH FDVK IORZ VWDWHPHQW FRQVLVW RI FDVK RQ KDQG DQG EDODQFHV LQ FXUUHQW DQG GHPDQG
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65
1RWHV
st
MDUFK
`LQ&URUHV
3.
As at
31st March, 2013
As at
31st March, 2012
20.00
17.26
17.26
SHARE CAPITAL
Authorised:
(TXLW\6KDUHVRI`HDFK
Issued and Subscribed:
3UHYLRXV\HDU(TXLW\6KDUHVRI`HDFK
Paid up:
3UHYLRXV\HDU(TXLW\6KDUHVRI`HDFKIXOO\SDLGXS
1RWHV 1.
Rights, preferences and restrictions attached to equity shares:
L
5LJKWWRUHFHLYHGLYLGHQGDVPD\EHDSSURYHGE\WKH%RDUGRI'LUHFWRUV$QQXDO*HQHUDO0HHWLQJ
LL 7KHHTXLW\VKDUHVDUHQRWUHSD\DEOHH[FHSWLQWKHFDVHRIDEX\EDFNUHGXFWLRQRIFDSLWDORUZLQGLQJXSLQWHUPVRI
WKHSURYLVLRQVRIWKH&RPSDQLHV$FW
LLL (YHU\PHPEHURIWKH&RPSDQ\KROGLQJHTXLW\VKDUHVKDVDULJKWWRDWWHQGWKH*HQHUDO0HHWLQJRIWKH&RPSDQ\DQG
KDVDULJKWWRVSHDNDQGRQDVKRZRIKDQGVKDVRQHYRWHLIKHLVSUHVHQWLQSHUVRQDQGRQDSROOVKDOOKDYHWKHULJKW
WRYRWHLQSURSRUWLRQWRKLVVKDUHRIWKHSDLGXSFDSLWDORIWKH&RPSDQ\
LY 0RQVDQWR&RPSDQ\86$WKHXOWLPDWHKROGLQJ&RPSDQ\KDVFHUWDLQULJKWVHQVKULQHGLQWKH$UWLFOHVRI$VVRFLDWLRQ
SHUWDLQLQJWRDSSRLQWPHQWRI'LUHFWRUV
2.
Reconciliation of the number of shares and amount outstanding at the beginning and at the end of the year:
As at
31st March, 2013
Particulars
As at
31st March, 2012
Number
` in Crores
Number
` in Crores
6XEVFULEHGDQG)XOO\SDLGXS
1,72,62,348
17.26
$GG 6KDUHV LVVXHG GXULQJ WKH \HDU DV IXOO\ SDLG
XSERQXVVKDUHV
300
-*
$GG6KDUHVLVVXHGHDUOLHUXQGHUULJKWVLVVXHQRZ
DOORWHG
100
-*
1,72,62,748
17.26
6KDUHVRXWVWDQGLQJDWWKHEHJLQQLQJRIWKH\HDU
6KDUHVRXWVWDQGLQJDWWKHHQGRIWKH\HDU
$PRXQWOHVVWKDQÒDF
3.
Details of shares held by the holding company and the ultimate holding company, in aggregate:
Particulars
As at
31st March, 2013
As at
31st March, 2012
Number
Number
0RQVDQWR&RPSDQ\86$WKHXOWLPDWHKROGLQJFRPSDQ\
32,01,920
0RQVDQWR+ROGLQJV3ULYDWH/LPLWHGWKHKROGLQJFRPSDQ\
92,52,124
$QQXDO5HSRUW
66
st
4.
Details of shares, held by each shareholder holding more than 5% shares:
As at
31st March, 2013
Name of shareholder
5.
As at
31st March, 2012
Number of
shares held
% of holding
Number of
shares held
% of holding
0RQVDQWR&RPSDQ\86$
32,01,920
18.55
0RQVDQWR+ROGLQJV3ULYDWH/LPLWHG
92,52,124
53.60
Aggregate number and class of shares allotted as fully paid up bonus shares for a period of 5 years immediately
preceding the Balance Sheet date:
Particulars
Aggregate number of shares
st
As at 31
March, 2013
As at 31st
March, 2012
As at 31st
March, 2011
As at 31st
March, 2010
As at 31st
March, 2009
300
(TXLW\VKDUHVRIIDFHYDOXHRI`HDFK
6.
MDUFK
Shares reserved for issue under commitments:
6LQFH3UHYLRXV\HDUVKDUHVZHUHVXEMHFWPDWWHURIGLVSXWHVFRXUWSURFHHGLQJVWKH&RPSDQ\KDVQRWEHHQ
DEOHWRLVVXHDOORW5LJKWVDQG%RQXVVKDUHV̵HQWLWOHPHQWVRQWKHVDLG3UHYLRXV\HDUVKDUHV
`LQ&URUHV
As at
31st March, 2013
4.
As at
31st March, 2012
RESERVES AND SURPLUS
(a)
Securities Premium Account:
139.40
$GG5HFHLYHGRQFRPPLWWHGVKDUHV
-*
/HVV$PRXQWXWLOLVHGRQLVVXHRI
FRPPLWWHGIXOO\SDLGERQXVVKDUHV
-*
-
%DODQFHDVSHUODVW%DODQFH6KHHW
/HVV$PRXQWXWLOLVHGRQLVVXHRIIXOO\
SDLGERQXVVKDUHV
139.40
(b)
General Reserve:
$GG6XUSOXVWUDQVIHUUHGIURP6WDWHPHQW
RI3URͤWDQG/RVV
/HVV$PRXQWXWLOLVHGRQLVVXHRI
FRPPLWWHGVKDUHV
/HVV$PRXQWXWLOLVHGRQLVVXHRIIXOO\SDLG
ERQXVVKDUHV
109.03
6.73
-*
-
115.76
(c)
6XUSOXVLQWKHVWDWHPHQWRI3URͤWDQG/RVV
$GG3URͤWIRUWKH\HDU
118.70
67.34
67
1RWHV
st
MDUFK
`LQ&URUHV
As at
31st March, 2013
4.
As at
31st March, 2012
RESERVES AND SURPLUS
/HVV$SSURSULDWLRQV
,QWHULP'LYLGHQG`3UHYLRXV\HDU
`SHUVKDUH
17.27
2.80
20.72
7D[RQ3URSRVHG'LYLGHQG
3.52
7UDQVIHUWR*HQHUDOUHVHUYH
6.73
7D[RQ,QWHULP'LYLGHQG
3URSRVHG'LYLGHQG`3UHYLRXV\HDU
`SHUVKDUH
135.00
390.16
367.13
$PRXQWOHVVWKDQÒDF
`LQ&URUHV
As at
31st March, 2013
As at
31st March, 2012
7UDGH3D\DEOHV
3.19
/LDELOLWLHVWRZDUGV(PSOR\HHV
0.97
6.11
10.27
5.
OTHER LONG TERM LIABILTIES
2WKHUV
6HFXULW\'HSRVLWV
`LQ&URUHV
6.
As at
31st March, 2013
As at
31st March, 2012
7.42
7.42
LONG TERM PROVISIONS
3URYLVLRQIRUHPSOR\HHEHQHͤWV
L
/HDYH(QFDVKPHQW5HIHU1RWH
`LQ&URUHV
7.
TRADE PAYABLES
L
2XWVWDQGLQJGXHVWRPLFURHQWHUSULVHVDQGVPDOOHQWHUSULVHV5HIHU1RWH
LL
2XWVWDQGLQJVRWKHUWKDQPLFURDQGVPDOOHQWHUSULVHV
As at
31st March, 2013
As at
31st March, 2012
-
103.66
103.66
$QQXDO5HSRUW
68
st
MDUFK
`LQ&URUHV
As at
31st March, 2012
8.
OTHER CURRENT LIABILITIES
(a)
Unclaimed Dividend
(b)
Due to Investor Education and Protection Fund
(c)
Other Payables
L
6WDWXWRU\5HPLWWDQFHV
LL
6HFXULW\'HSRVLWV
LLL
$GYDQFHIURP&XVWRPHUV
LY
/LDELOLWLHVWRZDUGV(PSOR\HHV
As at
31st March, 2012
0.54
-
0.54
4.31
1.28
16.47
7.42
30.02
`LQ&URUHV
As at
31st March, 2013
9.
As at
31st March, 2012
SHORT TERM PROVISIONS
(a) 3URYLVLRQIRUHPSOR\HHEHQHͤWV
L
/HDYH(QFDVKPHQW5HIHU1RWH
0.27
LL
*UDWXLW\5HIHU1RWH
1.91
2.18
(b) Others
L
6DOHV5HWXUQ6HHQRWHEHORZ
LL
3URSRVHG'LYLGHQG
6.21
20.72
LLL
7D[RQ3URSRVHG'LYLGHQG
3.52
LY
7D[DWLRQ1HWRI$GYDQFH7D[
2.62
33.07
35.25
3.39
Note on movement in Provision for Sales
Returns:
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5HWXUQ3URYLVLRQ&UHDWHG
5HWXUQ3URYLVLRQ$GMXVWHG
Net Closing Balance
49.83
(47.01)
6.21
Nature of Provision:
3URYLVLRQKDVEHHQPDGHIRUH[SHFWHGVDOHVUHWXUQVZKLFKDUHHVWDEOLVKHGXVLQJKLVWRULFDOLQIRUPDWLRQRQWKHIUHTXHQF\RI
FODLPVDQGPDQDJHPHQWHVWLPDWHVUHJDUGLQJSRVVLEOHIXWXUHLQFLGHQFH Monsanto India Limited
DESCRIPTION
-
-
-
1.12
-
1.12
Disposal
57.10
154.12
(137.96)
2.41
2.89
0.71
(0.71)
(2.89)
2.18
(2.18)
54.69
(5.73)
7.12
151.23
(3.98)
(135.07)
3.57
(3.25)
3.98
0.25
(0.19)
8.24
(7.68)
75.10
(69.31)
43.06
(35.10)
9.91
As at
01.04.2012
(9.83)
As at
31.03.2013
10.89
0.47
10.42
For the
year
-
-
-
0.62
-
0.62
(57.10)
67.37
(2.41)
2.88
(0.48)
0.70
(1.93)
2.18
(54.69)
64.49
(3.80)
5.69
(3.98)
3.98
(0.59)
0.81
(0.14)
0.17
(4.40)
4.70
(28.65)
34.35
(13.13)
14.79
-
-
Assets Held On Disposals
As at
for Sale during
31.03.2013
the year
$VVHWJLYHQRQOHDVH/DQG)UHHKROGFRVWLQJ`&URUHV3UHYLRXV\HDU1LODQG3ODQWDQG(TXLSPHQWFRVWLQJ`&URUHV3UHYLRXV\HDU1LO
17.28
137.96
2.89
)LJXUHVLQEUDFNHWVDUHLQUHVSHFWRI3UHYLRXV<HDU
Capital Work in Progress
Grand Total (A+B)
Total
17.28
135.07
Assets Held
for Sale during
the year
11.13
2.41
80.86
0.48
80.38
As at
01.04.2012
89.16
86.75
0.01
0.01
-
86.74
1.43
-
2.76
0.08
3.54
40.75
28.27
9.91
As at
31.03.2013
st
6RIWZDUH
,QWHOOHFWXDO3URSHUW\
Intangible Assets Acquired
Total
&RPSXWHUV(TXLSPHQW
/HDVHKROG
,PSURYHPHQWV
2WKHUV
2IͤFH(TXLSPHQW
9HKLFOHV
)XUQLWXUHDQG)L[WXUHV
3ODQWDQG(TXLSPHQW
%XLOGLQJV
Additions
`LQ&URUHV
NET BLOCK
C
Tangible Assets
/DQG)UHHKROG
As at
01.04.2012
DEPRECIATION / AMORTISATION
B
A
10. FIXED ASSETS
SR.
NO
GROSS BLOCK (AT COST)
69
1RWHV
MDUFK
$QQXDO5HSRUW
70
st
MDUFK
`LQ&URUHV
11.
DEFERRED TAX ASSET (NET)
D
3URYLVLRQIRUGRXEWIXOGHEWVDGYDQFHV
As at
31st March, 2013
As at
31st March, 2012
0.52
E
'HSUHFLDWLRQ
1.50
F
3URYLVLRQIRUOHDYHHQFDVKPHQW
0.90
G
2WKHUVXQGHUVHFWLRQ%RI,QFRPH7D[$FW
0.68
3.60
2.72
`LQ&URUHV
12.
As at
31st March, 2013
As at
31st March, 2012
LONG TERM LOANS AND ADVANCES
8QVHFXUHGFRQVLGHUHGJRRGXQOHVVRWKHUZLVHVWDWHG
D
&DSLWDO$GYDQFHV
0.42
E
6HFXULW\'HSRVLWV
0.84
F
2WKHUORDQVDQGDGYDQFHV
L
$GYDQFH7D[1HWRI3URYLVLRQV
5.44
LL
$GYDQFHWR(PSOR\HHV
1.34
LLL
2WKHUV
0.69
8QVHFXUHG'RXEWIXO
(0.69)
/HVV3URYLVLRQIRUGRXEWIXODGYDQFHV
LY
13.
0.31
3UHSDLG([SHQVHV
-
8.35
8.15
Face Value
(`per Unit)
As at 31st
March, 2013
(No. of Units)
As at 31st
March, 2012
(No. of Units)
As at 31st
March, 2013
(` inCrores)
As at 31st
March, 2012
(` in Crores)
7,10,35,825
72.44
CURRENT INVESTMENTS
Non -trade, Unquoted and Fully paid
DWORZHURIFRVWDQGIDLUYDOXH
Investments in Mutual funds
Liquid Funds:
+')&/LTXLG)XQG3UHPLXP3ODQ
'DLO\'LYLGHQG
,&,&,3UXGHQWLDO/LTXLG
6XSHU,3'DLO\'LYLGHQG
81,57,482
81.60
,&,&,3UXGHQWLDO/LTXLG*URZWK
14,43,461
25.00
%LUOD6XQ/LIH&DVK3OXV
'DLO\'LYLGHQG
21,16,554
21.21
%LUOD6XQ/LIH&DVK3OXV*URZWK
13,32,620
25.00
'63%ODFN5RFN/LTXLGLW\)XQG
,3'DLO\'LYLGHQG
2,56,852
25.69
250.94
71
1RWHV
st
MDUFK
`LQ&URUHV
As at
31st March, 2013
14.
As at
31st March, 2012
INVENTORIES
(At Lower of Cost and Net Realisable Value)
D
5DZ0DWHULDOV5HIHU1RWHLEHORZ
23.53
*RRGVLQ7UDQVLW
14.13
37.66
E
3DFNLQJ0DWHULDOV
4.75
F
:RUN,Q3URJUHVV,QFOXGLQJ,QSXWVIRU6WDQGLQJ
&URSV5HIHU1RWHLLEHORZ
55.87
G
)LQLVKHG*RRGVRWKHUWKDQ6WRFNLQWUDGH
5HIHU1RWHLLLEHORZ
41.01
H
6WRFNLQWUDGHDFTXLUHGIRUWUDGLQJ5HIHU
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For the year ended
31st March, 2013
For the year ended
31st March, 2012
:LWKLQ\HDU
5.23
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6.23
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31st March, 2013
31st March, 2012
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As at
31st March, 2013
As at
31st March, 2012
&KDQJHLQEHQHͤWREOLJDWLRQV
14.60
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1.72
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2.07
18.71
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Reconciliation of opening and closing balance of the fair value of plan assets:
(` in Crores)
As at
31st March, 2013
)DLUYDOXHRISODQDVVHWVDVDWst$SULO
([SHFWHGUHWXUQRQSODQDVVHWV
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(PSOR\HU&RQWULEXWLRQ
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st
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III.
As at
31st March, 2012
14.00
1.29
(0.15)
2.57
(0.91)
16.80
Actual return on Plan Assets:
(` in Crores)
As at
31st March, 2013
([SHFWHG5HWXUQRQ3ODQ$VVHWV
$FWXDULDOJDLQORVVRQ3ODQDVVHWV
$FWXDO5HWXUQRQ3ODQ$VVHWV
IV.
As at
31st March, 2012
1.29
(0.15)
1.14
Amount recognized in the Balance Sheet:
(` in Crores)
As at
31st March, 2013
)DLUYDOXHRISODQDVVHWV
16.80
As at
31st March, 2012
3UHVHQWYDOXHRIEHQHͤWREOLJDWLRQV
18.71
1HWDVVHWOLDELOLW\
(1.91)
83
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9
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(` in Crores )
For the year ended
31st March, 2013
For the year ended
31st March, 2012
&XUUHQWVHUYLFHFRVW
1.72
,QWHUHVWFRVW
1.23
(1.29)
$FWXDULDOJDLQORVV
2.22
1HWJUDWXLW\FRVW
3.88
VI.
Reconciliation of the liability recognized in the Balance Sheet:
(` in Crores )
As at
31st March, 2013
As at
31st March, 2012
2SHQLQJ1HW/LDELOLW\
0.60
([SHQVHUHFRJQL]HG
3.88
(2.57)
1.91
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VII. Experience Adjustments:
As at 31st
March,
2013
As at 31st
March,
2012
As at 31st
March,
2011
As at 31st
March,
2010
As at 31st
March,
2009
/LDELOLW\DWWKHHQGRIWKH3HULRG
18.72
)DLUYDOXHRISODQDVVHWVDVDWWKHHQGRIWKHSHULRG
16.80
'HͤFLW6XUSOXV
1.92
([SHULHQFHDGMXVWPHQWVRQSODQOLDELOLWLHV*DLQ/RVV
0.67
(0.15)
([SHULHQFHDGMXVWPHQWVRQSODQDVVHWV*DLQ/RVV
VIII. Actuarial assumptions used:
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As at
31st March, 2013
As at
31st March, 2012
'LVFRXQWUDWH
8.20%p.a
SD
6DODU\HVFDODWLRQUDWH
9.70%p.a
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8.75%p.a
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SURPRWLRQDQGRWKHUUHOHYDQWIDFWRUVVXFKDVVXSSO\DQGGHPDQGLQWKHHPSOR\PHQWPDUNHW
7KH&RPSDQ\̵VEHVWHVWLPDWHRIFRQWULEXWLRQVH[SHFWHGWREHSDLGWRWKHSODQGXULQJWKHDQQXDOSHULRGEHJLQQLQJ
DIWHU0DUFKLV`&URUHV3UHYLRXV<HDU`&URUHV
$QQXDO5HSRUW
84
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VIII. Actuarial assumptions used: (Contd.)
The major categories of plan assets as plan % of total plan
31st March, 2013
Gratuity Funded
31st March, 2012
Gratuity Funded
100%
*RYHUQPHQW%RQGV
41%
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26%
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21%
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`&URUHV
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31st March, 2013
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8.20%p.a
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9.70%p.a
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31st March, 2013
40.
As at
31st March, 2012
Year Ended
31st March, 2012
EARNINGS PER SHARE (EPS):
$
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DVVHWVDW(OXUXWKHQHWUHDOL]DEOHYDOXHZDVORZHUE\`&URUHVDQGWKHORVVZDVUHFRJQL]HGLQWKHVWDWHPHQWRISURͤW
DQGORVV,QWKHSUHYLRXV\HDUWKHVDLGDVVHWVDW(OXUXZHUHVROGDWDJDLQRI`&URUHVZKLFKZDVUHFRJQL]HGLQWKH
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31st March, 2012
As at 31st March, 2013
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31st March, 2013
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ended 31st March, 2012
CASH FLOW FROM OPERATING ACTIVITIES
74.97
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-
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0.48
-
(15.14)
-
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(1.59)
73.38
58.74
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31st March, 2013
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For the Previous Year
ended 31st March, 2012
CASH FLOW FROM FINANCING ACTIVITIES
Dividend paid
(34.54)
7D[RQ'LYLGHQG
(5.60)
,QWHUHVWSDLG
(0.34)
(40.48)
(30.34)
1.34
1.77
Cash and Cash Equivalents - Opening Balance
18.04
16.27
Cash and Cash Equivalents - Closing Balance
19.38
18.04
20.33
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Balance Sheet:
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2
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0.54
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0.41
0.95
19.38
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LL,Q'HSRVLWV
2.71
16.67
19.38
18.04
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Ahura Centre, B-Wing, 5th Floor
96, Mahakali Caves Road,
Andheri (East),
Mumbai - 400 093, India
([email protected])
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content and design consultants
www.monsantoindia.com

Annual Report 2012

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