The Corporation was incorporated in the year 1979 with authorised capital of Rs.500 lakhs. The paid up capital of the Corporation is Rs.155.04 lakhs. The Corporation availed bank loans of Rs.261.308 lakhs under IDA assisted multi state cashew project under NABARD refinance availing the loan from three commercial banks namely 1) State Bank of India, 2) Bank of India and 2) Union Bank of India. The principal along with the interest have been repaid to the concerned banks during the 1995-96 and the Corporation became free from loan burden since then. The corporation has sound financial position and consistently showing profit.

                               BALANCE SHEET AS AT MARCH 31,2020

  Particulars  Notes   As on March 31,2020   As on March 31,2019 
I. EQUITY AND LIABILITIES          
1. Shareholders’ funds          
  a.  Share Capital 3     1,55,04,000       1,55,04,000  
  b.  Reserves and Surplus 4   90,86,63,347     88,36,13,520  
             92,41,67,347        89,91,17,520
2 Non-Current Liabilities          
  a. Other Long-term liabilities 5     5,14,94,595       3,09,67,753  
  b. Long-term Provisions  6     4,23,15,260       3,64,06,258  
               9,38,09,855          6,73,74,011
             
3 Current Liabilities          
  a. Other current liabilities 5        89,43,304       2,21,48,890  
  b. Short-term Provisions  6     3,70,17,717       3,70,99,572  
               4,59,61,021          5,92,48,462
  TOTAL       1,06,39,38,223     1,02,57,39,993
             
II ASSETS          
1. Non-current assets          
  a.   Fixed assets          
     i)Tangible assets 7   26,39,14,718     26,32,74,907  
    II)Capital Work In Progress 8   14,15,70,140     10,93,61,171  
             40,54,84,858        37,26,36,078
    b.   Long-Term Loans & Advances  12     4,96,39,907       4,43,10,654  
    c.   Other non-Current Assets  13        44,26,116          44,26,116  
               5,40,66,023          4,87,36,770
             
2. Current assets          
    a. Invetories 9     2,53,85,921       1,10,58,582  
  b.Trade Receivables 10     4,18,15,234       1,93,23,425  
  c.Cash and Cash Equivalents 11   43,68,79,082     49,52,11,766  
  d.Loans & Advances  12     8,47,69,999       6,70,86,559  
  e.Other Current Assts  13     1,55,37,106       1,16,86,813  
             60,43,87,342        60,43,67,145
             
  TOTAL       1,06,39,38,223     1,02,57,39,993
  Summary of Significant accounting policies  2.1        

Statement of  Profit and Loss for the year ended March, 2020.

Particulars  Notes March 31,2020 March 31,2019
             
Revenue from Operation             
Income from Plantations      14          7,90,28,772    14,58,36,485  
Income from Nurseries      14          7,71,51,813      8,02,41,873  
Other income     15          3,49,69,652      2,75,88,062  
Total Revenue  (A)         19,11,50,237      25,36,66,420
             
Direct Expenses      16          6,25,83,963      6,28,66,771  
Change of Inventories        9         (1,43,27,339)        (11,23,361)  
Employee benefit expense     17          6,91,85,513      6,76,28,968  
Other expenses     18             46,61,214         62,14,296  
Total Expenses (B)         12,21,03,351      13,55,86,674
Profit before depreciation,            
amortisation and tax (EBIDTA) (A – B)           6,90,46,886      11,80,79,746
Depreciation           2,88,17,176        2,79,99,169
Profit  before Tax and Exceptional items           4,02,29,710        9,00,80,578
Exceptional Items             
Prior Year Adjustments ( Refer note -23)           1,57,33,380           28,24,470
Profit beforeExtra- Ordinary items and Tax            2,44,96,330        8,72,56,108
Net current tax expense            
(1) Current tax              98,46,834           75,67,083
             
             
Profit /(Loss )after tax           1,46,49,496        7,96,89,025
             
             
Earnings per equity share:            
Basic                     0.945                  5.140 
Diluted                     0.945                  5.140
Nominal Value of Share                     1,000                  1,000
             
Summary of Significant accounting policies  2.1          


Profit and Loss and Cumulative Profit and Loss since inception :

Year Profit / Loss Adjustment Cumulative Remarks
1979-80 (-)     2.26 —- (-)      2.26 Audited
1980-81 (+)    9.72 —- (+)     7.46 — do —
1981-82 (-)     2.97 (-)    10.08 (-)      5.59 — do —
1982-83 (-)   17.73 (-)      0.03 (-)    23.35 — do —
1983-84 (-)   30.41 (+)     1.82 (-)    51.94 — do —
1984-85 (-)   24.80 (-)      0.36 (-)    77.10 — do —
1985-86 (-)   29.17 —- (-)  106.27 — do —
1986-87 (+)   0.39 (-)      1.58 (-)  107.46  — do —
1987-88 (-)   26.16 (+)     4.70 (-)  128.92 — do —
1988-89 (-)   38.28 (-)      0.40 (-)  167.60 — do —
1989-90 (-)   33.16 (-)      0.17 (-)  200.93  — do —
1990-91 (+)    5.97 (+)   44.55 (-)  150.41 — do —
1991-92 (+)  51.10 (+)     0.03 (-)    99.28  — do —
1992-93 (-)   43.04 (-)      1.23 (-)  143.55 — do —
1993-94 (+)  13.87 (+)     0.48 (-)  129.20 — do —
1994-95 (+)  84.56 (+)     0.08 (-)    44.56 — do —
1995-96 (+)  91.45 (+)   57.27 (+)  104.16  — do —
1996-97 (+)  82.59 (+)     0.02 (+)  186.77  — do —
1997-98 (+)  77.74 (-)     7.34 (+)  257.17  — do —
1998-99 (+) 109.74  (-)    20.81 (+)  346.11 — do —
1999-2000 (+) 107.03 (-)     0.64 (+)  452.50 — do —
2000-2001 (+)  23.98 (-)   30.20 (+)  446.28 — do —
2001-2002 (+) 227.18 (-)   10.90 (+)  662.56 — do —
2002-2003 (+) 123.11 (-)   81.43 (+)  704.24  — do —
2003-2004 (+) 171.45 (-)  17.71 (+)  857.98 — do —
2004-2005 (+) 191.17  (-)  21.93  (+) 1027.22 — do —
2005-2006 (+) 165.82  (-)  72.06  (+) 1120.98 — do —
2006-2007 (+) 158.19 (-) 45.68 (+) 1233.49 — do —
2007-2008 (+) 164.19 (-) 52.83 (+) 1344.85 — do —
2008-2009 (+)  80.26 (-) 49.48 (+) 1375.63 — do —
2009-2010 (+)  144.73 (-) 50.60 (+) 1469.76 — do —
2010-2011 (+)   77.91 (-) 67.50 (+) 1480.17 — do —
2011-2012 (+) 136.82 (-) 56.42 (+) 1560.57 — do —
2012-2013 (+) 141.18 (-) 54.13 (+) 1647.62 — do —
2013-2014 (+) 323.48 (-) 146.14 (+) 1824.96 — do —
2014-2015 (+) 377.53 (-)76.98 (+) 2125.51 — do —
2015-2016 (+) 293.88 (-)92.94 (+) 2326.45 — do —
2016-2017 (+) 350.26 (-)55.50 (+) 2621.22 — do —
2017-2018 (+)1349.54 (-)59.50 (+) 3911.26 — do —
2018-2019 (+) 825.14 (-) 84.32 (+) 4652.08 — do —
2019-2020 (+) 303.82 (-) 213.40 (+) 4742.50 — do —

Payment of Dividend to Government of Odisha :

The Orissa State Cashew Development Corporation Ltd. has paid dividend to the Government amounting to Rs.5,81,38,000/- (Rupees  Five crore Eightyone lakh Thirtyeight thousand six hundred) only up to 2019-20  out of its net profits for the said years against paid up equity share capital of Rs.1,55,04,000.00. The details of the dividends paid to the Government since 1995-96 are given below.

Year of dividend paid Paid up equity share capital  (in Rs.) Rate of dividend declared(in %) Amount of                             dividend              (in Rs.) Cheque No. Bank Date
1995-1996 15404000 2.00          3,08,080 184954 SBI Main 03.01.98
1996-1997 15504000 3.00          4,65,120 988943 SBI Main 16.01.99
1997-1998 15504000 5.00          7,75,200 562500 Synd. ROEC. 31.12.02
1998-1999 15504000 7.50        11,62,800
1999-2000 15504000 7.50        11,62,800
2000-2001 15504000 10.00        15,50,400 123399 Synd. ROEC. 29.11.04
2001-2002 15504000 10.00        15,50,400 342534 Synd. ROEC. 04.02.05
2002-2003 15504000 10.00        15,50,400 588045 Synd. ROEC. 12.08.05
2003-2004 15504000 10.00        15,50,400 55598 U B I 28.03.07
2004-2005 15504000 10.00        15,50,400
2005-2006 15504000 10.00        15,50,400 846025 Syndicate Bank 31.03.08
2006-2007 15504000 10.00        15,50,400 791640 Syndicate Bank 12.11.08
2007-2008 15504000 10.00        15,50,400 334746 IDBI Bank 05.07.2010
2008-2009 15504000 10.00        15,50,400 367811 IDBI Bank 21.01.2011
2009-2010 15504000 10.00        15,50,400 569452 IDBI Bank 19.09.2011
2010-2011 15504000 20.00        31,00,800 680915 SBI Main 18.10.2012
2011-2012 15504000 20.00        31,00,800 291720 IOB 22.10.2013
2012-2013 15504000 20.00        31,00,800 298176 IOB 20.06.2014
2013-2014 15504000 20.00        31,00,800 063245 Axis Bank 10.12.2014
2014-2015 15504000 20.00        31,00,800 015869 ICICI Bank 04.02.2016
2015-2016 15504000 30.00        46,51,200 142837 Axis Bank 25.10.2017
2016-2017 15504000 30.00        46,51,200 052746 Sy. Bank 04.10.2018
2017-2018 15504000 30.00        46,51,200 009215 Sy. Bank 22.08.2019
2018-2019 15504000 30.00        46,51,200 188014 Axis Bank 21.05.2021
2019-2020 15504000 30.00        46,51,200 335D5EEF53 ICICI Bank 09.06.2022
    TOTAL  5,81,38,000