INFORMATION AS PER SECTION 217 (2A) OF THE COMPANIES ACT, 1956 READ WITH THE COMPANIES (PARTICULARS OF EMPLOYEES)
RULES, 1975 AND FORMING PART OF THE DIRECTORS REPORT FOR THE YEAR ENDED 31ST MARCH 2014.
Employed throughout the year and were in receipt of remuneration of not less than ` 60,00,000 per annum.
1.
S.
No
Name
Designation
Remuneration
(` in Lacs)
3WCNKECVKQP
Age
(Years)
Experience
(Years)
1.
Mr. Sanjay
Singal
Chairman &
Managing
Director
72.00
Graduate
54
34
Date of
commencement
of employment
30.06.2003
(Re-appointed
w.e.f.
30.06.2013)
Employed for the part of the year and were in receipt of remuneration aggregating to not less than ` 5,00,000 per month.
2.
S.
No
Name
Designation
1.
Notes:
1.
The condition of employment of Mr. Sanjay Singal and Mr. A. K. Khushu is/was contractual and the contract of employment was approved
by the members of the Company.
2.
Remuneration as shown includes salary, allowances, medical expenses, house rent, taxable value of perquisites but excludes gratuity
provision.
22
ANNEXURE- B TO THE DIRECTORS REPORT FOR THE YEAR ENDED 31ST MARCH 2014
INFORMATION AS PER SECTION 217 (1) (e) READ WITH COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT
OF BOARD OF DIRECTORS) RULES, 1988 AND FORMING PART OF THE DIRECTORS REPORT FOR THE YEAR ENDED
31ST MARCH 2014.
CONSERVATION OF ENERGY:
(a, b & c)
Your Company has always been conscious of the need to conserve energy and has always attempted various measures for the same
wherever possible to achieve reduction in the cost of production. The Company has been undertaking Energy Audit at Kolkata Plant
and adopted innovative methods resulted into saving of energy consumption. Company has commissioned Captive Power Plant of
506 MW at its Integrated Steel Plant in Odisha and is open for suggestions of experts in the areas where conservation of energy is
possible.
(d)
The details regarding present energy consumption including captive generation are furnished as per Form A of the Annexure to the
Rules.
FORM A
A.
B.
*
**
***
Electricity
(a) Purchased
Units (No. in Lacs) *
Total Amount (` In Lacs)
Average rate per unit (`)
(b) Own Generation
(i) Through Diesel
Units (No. in Lacs)
Qty (Ltrs in Lacs)
Total Amount (` In Lacs)
Average rate per unit (`)
(ii) Through Steam Turbine
Units Generated Kwh (No in Lacs)**
Coal Quantity (MT in Lacs)
Total Amount (` in Lacs)
Average rate per MT (`)
Average rate (` per unit)
2. Fuel Oil
Qty (Ltrs in Lacs)
Total Amount (` in Lacs)
Average rate per litre (`)
3. LPG Propane Gas
Qty (MT)
Total Amount (` in Lacs)
Average rate per MT (` in Lacs)
CONSUMPTION PER UNIT OF PRODUCTION
Production (MTs)***
Electricity (Unit/MT)
Fuel Oil (Ltrs/MT)
LPG (Kg./MT)
Captive use of electric units (Nos in Lacs)
Capitalized (No. of units in Lacs)
Total Amount capitalized (` in Lacs)
2013-14
2012-13
3,593.22
24,402.87
6.79
4,151.77
27,600.56
6.65
155.66
43.22
2,219.70
14.26
161.90
44.72
1,852.59
11.44
26,025.81
27.08
26,031.58
961.32
1.00
21,602.97
25.15
30,098.31
1,196.95
1.39
219.03
10,216.25
46.64
181.46
6,647.98
36.64
52,295.77
32,064.67
0.61
24,914.51
13,465.74
0.54
91,31,314
303.99
2.40
5.73
24,327.22
317.47
2,110.66
72,34,764
339.58
2.51
3.44
20,721.12
467.08
3,046.39
1.
Includes 317.47 Lac Units (Previous year 467.08 Lac units) for ` 2,110.66 Lac (Previous year ` 3,046.39 Lac) capitalized.
Out of generated (Kwh) 26,025.80 Lac Units (Previous year 21,602.97 Lac Units), 1,698.59 lac Units (Previous year 881.85 Lac Units) sold.
Includes production for capitalized/packing and captive use 68,58,478 MT (Previous year 54,02,629 MT).
23
FORM B
RESEARCH & DEVELOPMENT (R & D)
1.
5RGEKECTGCKPYJKEJ4&KUECTTKGFQWVD[VJG%QORCP[ :
&GXGNQROGPVQHJQVDCPFUHQTRTQFWEKPIWNVTCVJKPEQNFTQNNGFUVTKRTUVVQ
develop such kind of steel through coal based DRI route.
Development of hot rolled bands for high strength low alloy CRCA
application.
Development of Deep drawing hot rolled product through coal based DRI
route.
At Kolkata Plant :
2.
$GPGVUFGTKXGFCUCTGUWNVQHVJGCDQXG4&
At Odisha Plant:
Major energy saving measures was taken up during this year, which has
given substantial savings. Details are as follows:
DC drives of DRI Kiln Cooler of Kiln 1, 2, 3&4 were replaced with energy
GHEKGPV#$$OCMG888(&TKXGU-YJRGT-KNPRQYGTUCXKPIJCFDGGP
achieved.
#NNXGPWODGTU#KT%QORTGUUQT5VCVKQPYGTGLQKPGFKPEQOOQPTKPIJGCFGT
of Instrument and Service cum Process Air of all units of the total Plant.
Which has lead to the optimum loading of Compressors and switching of
other Compressors. Power savings equivalent to three Compressors i.e.,
3 630=1890KW/H was achieved.
AT Kolkata Plant:
6JG'PGTI[UCXKPIRTQLGEVUKORNGOGPVGFJCUDGPGVGFVJG%QORCP[D[
102200 Units annually.
The new product developed has been well accepted in the market of Africa
and has resulted in new avenue of export growth. Repeat orders has been
executed for various African markets. Company had already planned to
setup one dedicated unit at our Odisha plant.
3.
;QWTEQORCP[JCUUWEEGUUHWNN[UGVWRVJGHCEKNKVKGUWPFGTRJCUG8QH1FKUJC
RTQLGEVCJGCFQHUEJGFWNGCEJKGXGFVQVCNKPVGITCVKQP2JCUG8JCUETGCVGF
U[PGTIKGUGHEKGPE[QHRTQFWEVKQPEQUVKPVGITCVKQPQHRTKOCT[UGEQPFCT[
products at one place. Company envisages expansion of market with Phase8+QHVJGRTQLGEVKORNGOGPVCVKQPYJKEJKUKPRTQITGUU
4.
AJAX-TOCCO, USA make High Frequency Furnace for Acrylic coating in Color
Coating Line.
24
2.
3.
ABB, Sweden make Flatness Control System for Cold Rolling Mills.
Metso Minerals, Sweden Technology & Allminerals , USA Technology for Iron Ore
(KPGU$GPGEKCVKQP2NCPV
%QORCP[FGTKXGFVJGHQNNQYKPIDGPGVUHTQO&4+RNCPVU[UVGO
Recovery of waste heat from Kiln of gas producing about 11MW per kiln.
7VKNK\CVKQP QH EJCT RTQFWEGF CU YCUVG HTQO &4+ MKNPU CU C HWGN WKFK\GF DGF
combustion boiler.
7VKNK\CVKQPQHOKFFNKPIQHEQCNYCUJGT[CUCHWGNKPWKFK\GFDGFEQODWUVKQPDQKNGT
as a fuel.
8CTKQWUCEVKXKVKGUJCUDGGPEQORNGVGFCV-QNMCVCWPKVHQTEQUVTGFWEVKQPRTQFWEV
development.
+PECUGQHKORQTVVGEJPQNQI[
KORQTVGFFWTKPIVJGNCUV[GCTUTGEMQPGFHTQOVJGDGIKPPKPIQHVJGPCPEKCN[GCTHQNNQYKPIKPHQTOCVKQPOC[DG
furnished.
a.
Technology Imported
The basic engineering of CSP Plant for HR Coil has been given by SMS Siemag,
Germany.
0GEGUUCT[OQFKECVKQPUVQCFQRVVJKUKORQTVGFVGEJPQNQI[HQT+PFKCPEQPFKVKQPUCUYGNN
as for requirement of export market have been carried out indigenously successfully.
4.
b.
Year of Import
c.
d.
If not fully absorbed, areas where this has not taken place
reason thereof and future plan of action.
Not Applicable
2.
25
ANNEXURE - C TO THE DIRECTORS REPORT FOR THE YEAR ENDED 31ST MARCH 2014
REPORT ON CORPORATE GOVERNANCE
1.
VISION
A focused mindset with continuous learning aimed to have completely integrated operations for self reliance and to be the global leader in
the business.
2.
MISSION
6QCVVCKPCNGXGNYJGTGVJGTGKUPQFGPGFNKOKVHQTITQYVJVQRTQOQVGCYQTMENKOCVGVJCVJCTPGUUVJGDGUVQHJWOCPRQVGPVKCNGPEQWTCIG
to compete with self, protect environment and to explore all possible means for unmatched growth.
3.
4.
BOARD OF DIRECTORS
6JG$QCTFQH&KTGEVQTUEQPUKUVUQHVGP&KTGEVQTUQWVQHYJKEJXG&KTGEVQTUCTG0QP'ZGEWVKXGCPF+PFGRGPFGPV&KTGEVQTU6JG%QORCP[
has Executive Chairman. Guidelines issued by the SEBI for Composition of Board of Directors, statutorily not applicable, have been followed
and Composition of Board of Directors is as follows:
Sr. No. Category
1.
Executive Directors
2.
3.
4.
0QVG/T#--JWUJWTGUKIPGFYGH/T*%8GTOCTGUKIPGFCU
Whole Time Director but continue to be a Director)
Mr. Anil S Supanekar
Mr. R. D. Batra
Mr. Dinesh Kumar Behal
Mr. S. N. Baheti(Nominee IDBI Bank Ltd)
Mr. Jimmy Mahtani (Investors Nominee Director)
/T*%8GTOC
None of the Directors on the Board is a Member of more than 10 committees and Chairman of more than 5 committees across all the
Company/ies in which he is a Director.
26
Attendance of each Director at the Board Meetings, last Annual General Meeting and number of other Directorship and
Chairmanship/Membership of Committee in various Companies.
S.
No.
Name of Director
Attendance Particulars
No. of Board
Meetings
held
Committee
Member
Committee
Chairmanship
Yes
Mrs.Aarti Singal
No
Mr. S. N. Baheti
(Nominee of IDBI)
appointed w.e.f 08.11.2013
No
--
--
No
--
Nil
No
--
--
Mr. R. P. Goyal
Yes
/T*%8GTOC
No
--
Mr. R. N. Yadav
Nil
No
--
--
Mr. R. D. Batra
No
--
10
Yes
11.
Nil
No
--
--
12
Mr. A. K. Khushu
Resigned w.e.f 20.05.2014
No
--
--
--
AUDIT COMMITTEE
Audit Committee of Directors presently consists four Directors as Members namely (i) Mr. Dinesh Kumar Behal (ii) Mr. Anil S. Supanekar,
(iii) Mr. R. P. Goyal and (iv) Mr. R. D. Batra. Mr. Dinesh Kumar Behal is the Chairman of the Audit Committee, who is an independent Director
QPVJG$QCTF6JGRTGUGPVEQOOKVVGGEQPUVKVWVKQPEQPTOVJGTGSWKTGOGPVUQH5GEVKQPQHVJG%QORCPKGU#EV
EQTTGURQPFKPI
Section 292A of Companies Act, 1956). Members of the Audit Committee possess accounting exposure.
The terms of reference of the Committee has been amended by the Board of Directors conform to the provisions of Section 292 A of the
Companies Act, 1956 as detailed hereunder: -
C
1XGTXKGYVJG%QORCP[UPCPEKCNTGRQTVKPIRTQEGUUCPFVJGFKUENQUWTGUOCFGKPVJGPCPEKCNUVCVGOGPVUVQGPUWTGVJGKTEQTTGEVPGUU
dependability and accuracy.
D
4GEQOOGPFKPIVJGCRRQKPVOGPVCPFTGOQXCNQHVJGCWFKVQTUZCVKQPQHCWFKVHGGCPFCNUQCRRTQXCNHQTRC[OGPVHQTCP[QVJGTUGTXKEGU
E
4GXKGYKPI VJG CPPWCN PCPEKCN UVCVGOGPVU DGHQTG VJG UCOG CTG RNCEGF DGHQTG VJG $QCTF DCUKECNN[ KP VJG HQNNQYKPI CTGCU
K CP[
change in the accounting policies and practices and its effect on Companys working, (ii) major accounting entries based on exercise
QHLWFIGOGPVD[OCPCIGOGPV
KKKSWCNKECVKQPKPFTCHV#WFKV4GRQTV
KXKORQTVCPVCPFUKIPKECPVCFLWUVOGPVUCTKUKPIQWVQHCWFKV
(v) the going concern assumption, (vi) compliance with all applicable accounting standards and (vii) compliance with legal requirements
EQPEGTPKPIYKVJPCPEKCNUVCVGOGPVU
d.
Any related party transactions i.e. transactions of the Company of material nature with promoters or the management, their subsidiaries
QTTGNCVKXGUGVEVJCVJCXGRQVGPVKCNEQPKEVYKVJVJGKPVGTGUVQHVJG%QORCP[CVNCTIG
To look into the reasons for substantial defaults in the payments to the depositors, debenture holders, shareholders (in case of non
payment of declared dividends) and creditors.
During the year, the Committee held four meetings on 24th June 2013, 7th September 2013, 28th December 2013 and 29th March
2014.
27
6.
7.
(a)
(b)
8.
9.
REMUNERATION COMMITTEE
6JG%QOOKVVGGJCUDGGPEQPUVKVWVGFHQTZCVKQPQHTGOWPGTCVKQPQHVJG'ZGEWVKXG&KTGEVQTUQHVJG%QORCP[6JGVGTOUQHTGHGTGPEGQHVJG
%QOOKVVGGJCUDGGPCOGPFGFD[VJG$QCTF6JG%QOOKVVGGTGXKGYUVJG%QORCP[URQNKE[QPURGEKETGOWPGTCVKQPRCEMCIG2TGUGPVN[VJG
Committee comprises of (i) Mr. Anil S. Supanekar, (ii) Mr. R. D. Batra and (iii) Mr. Dinesh Kumar Behal as Members. Mr. Anil S. Supanekar
is the Chairman of the Committee. One meeting of the Committee was held during the year under report.
10.
11.
12.
Location and time for the last three (03) Annual General Meetings (AGMs):
Year
Location
Date
Time
2010-11
17.09.2011
2.30 P. M.
2011-12
17.09.2012
2.30 P. M.
2012-13
30.09.2013
2.30 P.M
(b)
No Extra Ordinary General Meeting of the Shareholders was held during the year under report.
(c)
Passing of Resolution by Shareholders through Postal Ballot is not presently applicable to the Company.
28
C
&KUENQUWTGQPOCVGTKCNN[UKIPKECPVTGNCVGFRCTV[VTCPUCEVKQPUKGVTCPUCEVKQPUQHVJG%QORCP[QHOCVGTKCNPCVWTGYKVJKVU
2TQOQVGTUVJG&KTGEVQTUQTVJG/CPCIGOGPVVJGKTUWDUKFKCTKGUQTTGNCVKXGUGVEVJCVOC[JCXGRQVGPVKCNEQPKEVYKVJVJG
interest of the Company at large.
6JGTGYCUPQOCVGTKCNN[UKIPKECPVVTCPUCEVKQPYKVJTGNCVGFRCTVKGUYJKEJYCUKPEQPKEVYKVJVJGKPVGTGUVQHVJG%QORCP[GZEGRVCU
stated in annual accounts.
(b)
Detail of non-compliance by the Company, penalties and strictures imposed on the Company by any statutory authority, on
any matter related to provisions of Companies Act, 1956, during the last three years.
None
14.
MEANS OF COMMUNICATION:
Annual Report is circulated to the Shareholders.
Company has its own website. www.bhushanpowersteel.com
15.
(ii)
Dividend/Interim Dividend Payment Date: Within 30 days from the date of declaration.
(iii)
Share Allotment & Transfer Committee: Share Allotment & Transfer Committee inter-alia has its terms of reference for approval
of transfer and transmission of securities, issue of duplicate shares, allotment of shares and issue of shares after consolidation or
sub-division.
(iv)
Dematerialisation Mode (Demat). Company has electronic connectivity with both the depositories namely NSDL and CDSL to extend
facility to its shareholders to hold shares in electronic mode. The Companys ISIN is INE 347F01016. Some of the shareholders have
availed the demat facility.
X
5JCTG%GTVKECVGU5JCTGEGTVKECVGUCTGCNUQKPRJ[UKECNHQTO
(vi)
Registrar for Connectivity: Link Intime India Pvt Ltd, A-40, 2nd Floor, Naraina Industrial Area, Phase-II, Near Batra Banquets,
Naraina, New Delhi-110 028 has been appointed as Registrar for connectivity with NSDL & CDSL.
(vii)
Category
%age
1.
Individuals Promoters
11.65
2.
82.82
FII
5.53
Total
(viii)
(ix)
100.00
Location of Plants:
a.
D
8KNNCIG*CTKRWT-JWTC#ODCNC%JCPFKICTJ4QCF>C$CUUK&KUVV/QJCNK
2WPLCD
c.
F
8KNNCIG6JGNMQNQKCPF&JWDGPEJCRRGT6GJUKN4GPICNK&KUVV5CODCNRWT1FKUJC
e.
Plot No. 55, KIADB Industrial Area, Chintamani Road, Hoskote Taluk, Bangalore (Karnataka)
(Maharashtra)
b.
Pantnagar
(Uttrakhand)
c.
Hosur
(Tamil Nadu)
d.
Ludhiana
(Punjab)
e.
Manesar, Faridabad
(Haryana)
29
30
country shall bridge the gap of generation and demand of power sector. State level Corporations are also involved in the generation of electricity.
The intra state distribution is managed by the State Electricity Boards (SEBs) and private companies. Power Grid Corporation of India is responsible
for the inter-state transmission of electricity and the development of national grid.
OPPORTUNITIES AND THREATS
Opportunities
)QXVHQEWUGUQPTCVKQPCNK\KPIVJG#EVIQXGTPKPIUVGGNKPFWUVT[CPFOKPGUCPFNCPFCESWKUKVKQP
)QXVRTKQTKVKGUKPHTCUVTWEVWTGFGXGNQROGPVYKVJURGGF[ITQYVJ
'PEQWTCIKPIRWDNKERTKXCVGRCTVPGTUJKRKPGZGEWVKQPQHRTQLGEVU
0CVKQPCN5VGGN2QNKE[CKOKPICVJKIJGTRTQFWEVKQPXK\CXK\JKIJGTEQPUWORVKQP2QNKE[JCUGPXKUCIGFVCTIGVQHOKNNKQPVQPUD[
.KDGTNKUKPI(&+PQTOCPFGPEQWTCIKPIECRKVCNOCTMGV
%JKPCCPF#HTKECPEQWPVTKGUCTGHQEWUKPIOQTGQPKPHTCUVTWEVWTGFGXGNQROGPVCPFCTGCNUQYKVPGUUKPIUVTQPIKPVGTPCNFGOCPF
4CVKQPCNK\CVKQPQHVCZCVKQPDQVJFKTGEVQTCPFKPFKTGEV
5VTQPIFQOGUVKEFGOCPFUWRRN[ICRKUEWTTGPVN[OGVVJTQWIJKORQTVU
'ZRGEVGFKPETGCUGKPRGTECRKVCNEQPUWORVKQPQHUVGGNKP+PFKCCUEQORCTGFVQYQTNFEQPUWORVKQP
+PFKCKUNCTIGUVRTQFWEGTQHURQPIGKTQPKPVJGYQTNFYKVJEQCNDCUGFTQWVGCEEQWPVKPIHQTQHVQVCNRTQFWEVKQP
2GTECRKVCKPEQOGDQWPFVQKPETGCUG
Threats
4KUKPIEQUVQHKPRWVEQWRNGFYKVJUECTEKV[KPUWRRN[
+TCSETKUKUCHHGEVKPIUWRRN[QHQKN
+ORCEVQHNCPFCESWKUKVKQP#OGPFOGPV#EV
8QNCVKNKV[TKUKPIKORQTVDKNNQHETWFGQKNKPKPVGTPCVKQPCNOCTMGV
8QNCVKNKV[KPRTKEGUQHKPRWVEQUVUVGGNRTKEGUKPKPVGTPCVKQPCNUEGPCTKQFWGVQWPGZRGEVGFKPVGTPCVKQPCNGXGPVU
8QNCVKNKV[KPHQTGKIPGZEJCPIGEWTTGPE[9GCMTWRGGCICKPUV75&
$WQ[CPVFWGVQUVTQPIITQYVJKPFGOCPF
4GEGUUKQPCT[VTGPFKPGTQ\QPGCPFFGDVETKUGUQH)TGGM
COMPANYS PROSPECTS
9KVJVJGHCEKNKVKGUWPFGT2JCUG8RWVVQVTKCNTWP[QWT%QORCP[YKNNJCXGWPKSWGKPVGITCVGFUVGGNEQORNGZJCXKPIVQVCNKPVGITCVKQPQHRTKOCT[UVGGN
products i.e. sponge iron, pig iron/hot metal, Steel Billets, HR Coils and secondary steel products CR Coils/Sheets, Galvanized Plain/Corrugated
Sheets, Galvalume Sheets, Colour Coated Sheets, Black Pipes, GI Pipes, Precision Tubes, Cable Tapes and Special Alloy Steel, Bars, Wire Rod,
9KTGUCPFDTKIJVDCTU%QORCP[JCUKPKVKCVGFHCEKNKVKGUWPFGT2JCUG8+HQTGZRCPUKQPCPFUJCNNCEJKGXGECRCEKV[QH/62#
State of Odisha has recommended for grant of mining lease for 224 million tons of iron ore reserves in Thakurani block and Sundergarh Keonjhar
block.
Mining of Companys coal blocks at Jamkhani and Bijhan and generation of additional power will further reduce the cost of inputs and saving in cost
QHRTQFWEVKQPCPFKPETGCUGKPRTQVCDKNKV[4QJPG%QCN$NQEMKPVJG5VCVGQH,JCTMJCPFYKNNUWRRNGOGPVVQOGGVVJGEQCNFGOCPFQHVJG%QORCP[
further enhancing the self-reliance.
Allocation of Patal (E) coal block and Chatuburu Iron Ore Mines in the State of Jharkhand to the Company for its proposed Integrated Steel & Power
Project will further make the Company truly integrated. 1,000 MW Power project in the State of Chhattisgarh is envisaged for uninterrupted supply
of Power.
FINANCIAL OPERATIONAL PERFORMANCE
Term Lending
During the year under review, Company has availed Term Loan of Rs.186 Crore, out of sanctioned Rupee Term Loan of Rs. 3,250 Crore, ECA of
4U%TQTGQWVQHUCPEVKQPGF'%#QH4U%TQTGHTQO$C[GTP.$HQT1FKUJC2JCUG82TQLGEV
During the year under review, Company has availed ECA of Rs.132 Crore out of sanctioned ECA of Rs. 1,560 Crore from KFW IPEX GmbH
)GTOCP[&GWVUEJG$CPM5R#
+VCN[CPF+PVGUC5CPRCQNQ5R#
*QPIMQPIHQT1FKUJC2JCUG8+2TQLGEV
During the year under review, the company has received Long Term Loan of Rs. 4698 Crore. Further, the Company has also availed ECBs of
Rs.943 Crore for the replacement of its existing ECBs and RTLs.
31
Working Capital
Your company enjoyed working capital facilities of Rs. 7,700 crore (Fund Based Rs. 4,000 Crore and Non Fund Based Rs. 3,700 Crore) from
consortium of banks lead by Punjab National Bank.
Credit Rating
The credit rating agencies Fitch Ratings India (P) Limited and Credit Analysis & Research Limited (CARE Ratings) has done the rating of the
company. The rating assigned by the credit rating agencies are as under:Fitch Ratings India (P) Limited
The Fitch Ratings has assigned the Long Term rating of A-(ind). Further it has assigned the rating of F2+(ind) for short term bank loans.
Credit Analysis & Research Limited (CARE Ratings)
CARE has assigned the Long Term rating of CARE A- (Single A Minus). Further, it has assigned CARE A1(A one) rating to short term non fund
base facilities and STD/CP/NCD (carved out of sanctioned working capital limits) of your company and CARE A2+ (A two plus) rating to short term
unsecured loan and STD/CP/NCD (standalone).
INTERNAL CONTROL SYSTEM
The Company has an adequate system of internal control implemented by management having regard to size and nature of business activities of
VJG%QORCP[VQCEJKGXGQRGTCVKQPCNGHEKGPE[CEEWTCE[EQORNKCPEGQHRQNKEKGUCPFRTQEGFWTGUNCYCPFTGIWNCVKQPUCPFENQUGOQPKVQTKPI6JG
exercise is carried out across all locations of the Company. This ensures the control and safeguard of the Companys assets against loss through
KPGHEKGPE[YCUVGPGINKIGPEGQTHTCWF+PVGTPCN#WFKVHWPEVKQPKPIKUTGIWNCTN[TGXKGYGFD[VJG#WFKV%QOOKVVGG#HQNNQYWRCWFKVKUECTTKGFQWVVQ
review the progress on recommendation, if any, made.
%QUV#WFKVKUEQPFWEVGFGXGT[[GCTKPCEEQTFCPEGYKVJ%QUV#WFKV4WNGUTGNCVKPIVQUVGGNRNCPVYJKEJHWTVJGTGPJCPEGUNGXGNQHQRGTCVKQPCNGHEKGPE[
and cost control
CONTINGENT LIABILITIES
&GVCKNUQHEQPVKPIGPVNKCDKNKVKGUCTGUVCVGFKPPQVGUVQ$CNCPEG5JGGVCPF5VCVGOGPVQH2TQVCPF.QUU
STATUTORY COMPLIANCE
Company has been complying with all applicable statutory obligations, a declaration of compliance of statutory and legal obligations of various
applicable statutes is made by Whole Time Director and Company Secretary at each Board Meeting
QUALITY
Greater emphasis is laid down on total customer satisfaction, continuous up-gradation of technology and customer oriented marketing that represents
the total commitment to set higher standards for quality assurance.
SEGMENT REPORTING
The Company is engaged in iron & steel business, which in the context of Accounting Standard 17 is considered only business segment.
32
2)
3)
4)
5)
IQHUWDUGEVKQP
QHUGEVKQPQHVJG%QORCPKGU#EV
FOR MEHRA GOEL & CO.
Chartered Accountants
Firm Registration No.: 000517N
Sd/R.K. MEHRA
PARTNER
M.NO.: 6102
33
Annexure
(Referred to in paragraph 3 of our report of even date)
K
ii)
iii)
iv)
v)
vi)
vii)
viii)
ix)
6JG%QORCP[JCUOCKPVCKPGFRTQRGTTGEQTFUUJQYKPIHWNNRCTVKEWNCTUKPENWFKPISWCPVKVCVKXGFGVCKNUCPFUKVWCVKQPQHZGFCUUGVU1PVJG
DCUKUQHCXCKNCDNGKPHQTOCVKQPKPQWTQRKPKQPVJGZGFCUUGVUEQXGTKPIUKIPKECPVXCNWGJCXGDGGPRJ[UKECNN[XGTKGFD[VJGOCPCIGOGPVCV
TGCUQPCDNGKPVGTXCNUJCXKPITGICTFVQVJGUK\GQHVJG%QORCP[CPFVJGPCVWTGQHKVUZGFCUUGVU#UKPHQTOGFVQWUPQOCVGTKCNFKUETGRCPEKGU
YGTGPQVKEGFQPUWEJXGTKECVKQP0QUWDUVCPVKCNRCTVQHZGFCUUGVUJCUDGGPFKURQUGFQHHFWTKPIVJG[GCTYJKEJOC[CHHGEVVJGIQKPI
concern status of the company.
In our opinion and according to the information and explanations given to us, the inventories of the Company in its possession have been
RJ[UKECNN[XGTKGFD[VJGOCPCIGOGPVCVTGCUQPCDNGKPVGTXCNU5VQEMUKPRQUUGUUKQPCPFEWUVQF[QHVJKTFRCTVKGUCPFUVQEMUKPVTCPUKVCUQP
31st/CTEJJCXGDGGPXGTKGFD[VJGOCPCIGOGPVYKVJTGICTFVQEQPTOCVKQPQTUVCVGOGPVQHCEEQWPVQTEQTTGURQPFGPEGQHVJGVJKTF
RCTVKGUQTUWDUGSWGPVTGEGKRVQHIQQFU6JGRTQEGFWTGQHRJ[UKECNXGTKECVKQPQHKPXGPVQTKGUQHVJG%QORCP[HQNNQYGFD[VJG/CPCIGOGPVKU
reasonable and adequate in relation to the size of the Company and the nature of its business.
The Company is maintaining proper records of inventories. As explained to us, no material discrepancies were noticed on such physical
XGTKECVKQPCUEQORCTGFVQDQQMTGEQTFU
In our opinion and according to the information and explanations given to us, the Company has not taken/granted any loans, secured or
WPUGEWTGFHTQOVQ%QORCPKGUTOUQTQVJGTRCTVKGUNKUVGFKPVJG4GIKUVGTOCKPVCKPGFWPFGT5GEVKQPQHVJG%QORCPKGU#EVFWTKPI
the year.
In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate
YKVJVJGUK\GQHVJG%QORCP[CPFVJGPCVWTGQHKVUDWUKPGUUHQTVJGRWTEJCUGQHKPXGPVQT[ZGFCUUGVUCPFYKVJTGICTFVQUCNGQHIQQFUCPF
services. During the course of our audit, we have not observed any continuing failure to correct major weakness in such internal controls.
In respect of contracts or arrangements entered in the register maintained in pursuance of section 301 of the Companies Act, 1956, to the
best of our knowledge and belief and according to the information and explanations given to us:a)
The particular of contracts or arrangements referred to Section 301 that needed to be entered in the register maintained under the
said Section have been so entered.
b)
Where each of such transaction is in excess of ` 5 Lacs in respect of any party, the transaction have been made at a price which are
prima facie reasonable having regard to the prevailing market prices at the relevant time.
To the best of our knowledge, the Company has not accepted any deposits covered under section 58A and 58AA or any other relevant
provisions of the Companies Act, 1956.
To the best of our knowledge and explanations given to us, the Company has an internal audit system commensurate with its size and nature
of its business.
The Central Government has under clause (d) of sub section (1) of Section 209 of the Companies Act, 1956 prescribed maintenance of Cost
Records for the Company. On the basis of records produced to us, we are of the opinion that, prima facie, such accounts and records have
been made and maintained by the Company. However, we have not, nor we are required, to carry out any detailed examination of such
accounts and records.
According to the information and explanations given to us, in respect of statutory dues:
a)
b)
c)
The Company is generally regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection
fund, Employee State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess and any other
statutory dues with the appropriate authorities.
There were no undisputed amounts payable in respect of Income tax , Wealth tax , Service tax , Excise Duty,Cess, and other material
statutory dues in arrears as at 31st March,2014 for a period of more than six months from the date they become payable.
The disputed statutory dues aggregating Rs. 25,017.18 Lacs (net of paid under protest) that have not been deposited on account of
disputed matters pending before appropriate authorities are as under:
Nature of dues
Demand
Demand
Demand
Demand
487.43
56.57
11.70
Demand
113.26
Demand
79.95
Demand
5790.58
2006-07
2012-13
2006-07 to
2008-09
2010-11 to
2011-12
2006-07,
2008-09 &
2009-10
2006-07 to
2007-08,
2009-10 &
2010-11
34
Nature of dues
Demand
Penalty
Penalty
Penalty
Demand
Demand
Penalty
Additional
Demand
Demand
Service Tax
Service Tax
Income tax
Demand
Demand
Z
6JG%QORCP[JCUPQDTQWIJVHQTYCTFNQUUGUCPFJCUPQVKPEWTTGFCP[ECUJNQUUGUFWTKPIVJGPCPEKCN[GCTCPFKPVJGKOOGFKCVG
RTGEGFKPIPCPEKCN[GCT
xi)
In our opinion, the company has not defaulted in repayment of dues to Financial Institutions or Banks or Debenture holders.
ZKK 1PVJGDCUKUQHXGTKECVKQPQHCEEQWPVUCPFTGEQTFUOCKPVCKPGFD[VJG%QORCP[CPFVQVJGDGUVQHQWTMPQYNGFIGDGNKGHVJG
Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other
securities.
ZKKK +PQWTQRKPKQPVJG%QORCP[KUPQVCEJKVHWPFQTCPKFJKOWVWCNDGPGVHWPFUQEKGV[
xiv) To the best of our knowledge and according to information and explanations given to us, the Company is not dealing or trading
in shares, securities and other investments. However, surplus funds are temporarily kept in short term securities in the name
of the Company.
xv)
To the best of our knowledge and according to the information and explanations given to us, the Company has not given any
guarantee for loans taken by others from Banks/ Financial Institutions.
xvi) To the best of our knowledge and according to the information and explanations given to us, the term loans were applied for
the purpose for which the loans were obtained.
xvii) In our opinion and according to the information and explanations given to us and on the overall examination of balance sheet,
we report that no funds raised on short term basis have been used during the year for long term investments. However,
sometimes due to pending disbursement of long term loans, short term available loans have been temporarily utilised for long
term purposes.
xviii) According to the information and explanations given to us, the Company has made preferential allotment of cumulative
compulsory convertible preference shares to parties and companies covered in the Register maintained under section 301 of
the Companies Act, 1956. In our opinion, and according to the information and explanations given to us, the price, at which
preference shares have been issued is not prejudicial to the interest of the Company.
xix) According to the information and explanations given to us, the company has not issued any debentures during the year.
xx)
According to the information and explanations given to us, the Company has not raised any money by Public Issue during the
year.
xxi) Based upon the audit procedure performed and information and explanations given by the management, we report that no
fraud on or by the Company has been noticed or reported during the year.
FOR MEHRA GOEL & CO.
Chartered Accountants
Firm Registration No.: 000517N
Sd/R.K. MEHRA
PARTNER
M.NO.: 6102
35
Balance Sheet
As at 31st March, 2014
(` in Lacs)
I.
NOTE
31.03.2014
31.03.2013
2
3
23,664.66
7,87,862.54
8,11,527.20
20,133.37
6,07,224.50
6,27,357.87
(2)
(a)
(b)
(c)
(d)
4
5
6
7
22,40,883.92
1,40,083.09
1,18,827.04
2,871.61
25,02,665.66
17,99,710.13
1,10,083.09
2,06,616.44
2,834.78
21,19,244.44
(3)
(a)
(b)
(c)
(d)
Current Liabilities
Short Term Borrowings
Trade Payables
Other Current Liabilities
Short Term Provisions
8
9
10
11
4,98,542.40
1,34,693.35
2,45,352.18
7,335.93
8,85,923.86
4,86,033.14
91,191.09
2,29,117.99
2,719.83
8,09,062.05
42,00,116.72
35,55,664.36
22,98,168.77
1,802.10
10,57,831.41
33,57,802.28
12,206.96
1,60,727.54
1,976.55
1,74,911.05
13,74,227.03
114.62
14,19,398.16
1,493.44
27,95,233.25
12,206.96
1,13,163.63
3,379.30
1,28,749.89
949.09
3,18,211.29
1,62,436.69
17,604.26
1,68,105.30
96.76
6,67,403.39
2,122.06
1,99,271.45
1,71,840.61
73,365.32
1,85,081.78
6,31,681.22
42,00,116.72
35,55,664.36
TOTAL
II. ASSETS
(1) Non Current Assets
(a) Fixed Assets
(i) Tangible Assets
(ii) Intangible Assets
(iii) Capital Work In Progress
(iv) Intangible Assets Under Development
12
13
14
15
16
17
18
19
20
21
TOTAL
5KIPKECPV#EEQWPVKPI2QNKEKGU
Notes forming part of Accounts
1
2 to 45
Sd/(SANJAY SINGAL)
CHAIRMAN & MANAGING DIRECTOR
Sd/(R. P. GOYAL)
WHOLE TIME DIRECTOR
Sd/(ARUN K. AGRAWAL)
CHIEF FINANCIAL OFFICER
Sd/(AMARJEET SHARMA)
':'%76+8'&+4'%614
Sd/(R.K. GUPTA)
PRESIDENT &
COMPANY SECRETARY
36
5VCVGOGPVQH2TQVCPF.QUU
(QTVJG[GCTGPFGFst March, 2014
(` in Lacs)
NOTE
31.03.2014
31.03.2013
11,08,899.63
9,34,300.65
19,970.12
17,446.54
11,28,869.75
9,51,747.19
22
23
91,033.60
84,771.06
10,37,836.15
8,66,976.13
318.51
526.98
10,38,154.66
8,67,503.11
4,65,069.60
4,29,851.78
33,238.10
29,165.64
IV. EXPENSES
Cost of Raw Materials Consumed
24
25
(353.23)
(26,879.22)
'ORNQ[GG$GPGVU'ZRGPUGU
26
27,521.88
22,354.17
Finance Costs
27
1,43,802.89
1,08,165.37
12
87,838.27
74,655.12
Other Expenses
28
1,87,488.27
1,42,497.77
9,44,605.78
7,79,810.63
93,548.88
87,692.48
Total Expenses
V. PROFIT BEFORE TAX (III-IV)
VI. TAX EXPENSE :
- Current Tax
19,700.00
17,600.00
19,700.00
17,600.00
- Deferred Tax
30,000.00
30,000.00
30,500.00
30,500.00
63,548.88
57,192.48
Basic
32.78
29.52
Diluted
26.33
25.63
39
5KIPKECPV#EEQWPVKPI2QNKEKGU
2 to 45
Sd/(SANJAY SINGAL)
CHAIRMAN & MANAGING DIRECTOR
Sd/(R. P. GOYAL)
WHOLE TIME DIRECTOR
Sd/(ARUN K. AGRAWAL)
CHIEF FINANCIAL OFFICER
Sd/(AMARJEET SHARMA)
':'%76+8'&+4'%614
Sd/(R.K. GUPTA)
PRESIDENT &
COMPANY SECRETARY
37
87,838.27
312.03
1,48,116.32
(4,313.42)
(15.16)
(141.40)
5.53
(2.77)
39.36
(1,983.37)
(1,15,778.12)
28,884.63
58,929.34
31.03.2014
31.03.2013
93,548.88
87,692.48
2,29,855.39
3,23,404.27
74,655.12
493.58
1,11,702.09
(3,536.71)
(274.87)
(19.46)
(3.77)
296.48
(24.26)
184.80
(292.06)
(22,681.40)
(1,19,268.96)
1,265.87
1,83,180.94
2,70,873.42
(1,40,684.48)
1,30,188.94
17,272.90
1,12,916.04
(A)
(27,964.15)
2,95,440.12
19,700.00
2,75,740.12
(B)
(5,50,353.47)
2,294.71
2,540.06
141.40
2.77
4,313.42
(5,41,061.11)
(5,86,895.29)
1,324.36
(1,451.42)
19.46
24.26
3,209.61
(5,83,769.02)
1,20,787.38
4,05,026.17
11,507.78
(3,544.31)
(3,24,050.17)
(142.66)
(24.25)
2,09,559.94
(55,761.06)
73,365.32
17,604.26
24,379.75
5,47,983.81
1,20,926.10
(2,655.98)
(2,32,346.89)
(96.97)
(16.48)
4,58,173.34
(12,679.64)
86,044.96
73,365.32
(C)
(A+B+C)
Sd/(SANJAY SINGAL)
CHAIRMAN & MANAGING DIRECTOR
Sd/(R. P. GOYAL)
WHOLE TIME DIRECTOR
Sd/(ARUN K. AGRAWAL)
CHIEF FINANCIAL OFFICER
Sd/(AMARJEET SHARMA)
':'%76+8'&+4'%614
Sd/(R.K. GUPTA)
PRESIDENT &
COMPANY SECRETARY
38
Basis of Accounting:
6JGPCPEKCNUVCVGOGPVUJCXGDGGPRTGRCTGFKPCEEQTFCPEGYKVJ)GPGTCNN[#EEGRVGF#EEQWPVKPI2TKPEKRNGU
)##2KP
India and presented under the historical cost convention on accrual basis of accounting to comply with the accounting
standards prescribed in the Companies (Accounting Standards) Rules, 2006 and with the relevant provisions of the
Companies Act, 1956.
(b)
Use of Estimates:
6JGRTGRCTCVKQPQHPCPEKCNUVCVGOGPVUKPEQPHQTOKV[YKVJ)GPGTCNN[#EEGRVGF#EEQWPVKPI2TKPEKRNGU
)##2KP+PFKC
requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and
VJGFKUENQUWTGUQHEQPVKPIGPVNKCDKNKVKGUQPVJGFCVGQHPCPEKCNUVCVGOGPVUCPFTGRQTVGFCOQWPVUQHKPEQOGCPFGZRGPUGU
during the period. Difference between the actual result and estimates are recognized in the period in which the results
are known/ materialized.
ii)
FIXED ASSETS
(a)
(KZGF#UUGVUCTGUVCVGFCVEQUVPGVQH8#6/1&8#6%'08#6NGUUCEEWOWNCVGFFGRTGEKCVKQP6JGEQUVUEQORTKUGU
purchase price, borrowing costs relating to qualifying assets till commencement of commercial production and directly
attributable cost of bringing the assets to its working condition for the intended use. Any trade discounts and rebates are
deducted in arriving at the purchase price.
5WDUGSWGPVGZRGPFKVWTGTGNCVGFVQCPKVGOQHZGFCUUGVKUCFFGFVQKVUDQQMXCNWGQPN[KHKVKPETGCUGUVJGHWVWTGDGPGVU
from the existing assets beyond its previously assessed standard of performance.
From accounting periods commencing on or after 7 December 2006, the company adjusts exchange differences arising
on translation/settlement of long-term foreign currency monetary items pertaining to acquisition of a depreciable asset
to the cost of the asset and depreciated the same over the remaining life of asset.
/CEJKPGT[URCTGUVJCVECPDGWUGFQPN[KPEQPPGEVKQPYKVJCPKVGOQHZGFCUUGVCPFVJGKTWUGKUGZRGEVGFVQDGKTTGIWNCT
are capitalized. Replacement of such spares is charged to revenue. Capital expenditure on assets not owned by the
EQORCP[YKVJGZENWUKXGTKIJVVQWUGKUTGGEVGFKPECRKVCNYQTMKPRTQITGUUVKNNVJGRGTKQFQHEQORNGVKQPCPFVJGTGCHVGTKP
ZGFCUUGVU
(b)
#UUGVUKPVJGEQWTUGQHEQPUVTWEVKQPCTGTGGEVGFKPECRKVCNYQTMKPRTQITGUU#VVJGRQKPVYJGPCUCUUGVKUQRGTCVKPI
CVOCPCIGOGPVUKPVGPFGFWUGVJGEQUVQHEQPUVTWEVKQPKUVTCPUHGTTGFVQCRRTQRTKCVGECVGIQT[QHZGFCUUGVU%QUVU
associated with the commissioning of an asset are capitalized where the asset is available for use but incapable of
operating at normal levels until a period of commissioning has been completed.
(c )
Intangible Assets
In accordance with the Accounting Standard (AS) 26 relating to intangible assets, all costs incurred on technical knowhow / license fee relating to production process are charged to revenue in the year of incurrence. Costs incurred on
technical know-how / license fee relating to process design / plants / facilities are capitalized at the time of capitalization
QHVJGUCKFRNCPVHCEKNKV[CPFCOQTVK\GFQPRTQTCVCDCUKUQXGTCRGTKQFQHXG[GCTU%QORWVGTUQHVYCTGKUECRKVCNKUGF
QPVJGFCVGQHKPUVCNNCVKQPCPFKUCOQTVKUGFQPRTQTCVCDCUKUQXGTCRGTKQFQHXG[GCTU
iii)
IMPAIRMENT OF ASSETS
Carrying amount of cash generating units / assets is reviewed for impairment, if events or changes in circumstances indicate that
the carrying amount of an asset may not be recoverable. If any such indication exists, the recoverable amount is estimated as
JKIJGTQHKVUPGVUGNNKPIRTKEGCPFXCNWGKPWUG#PKORCKTOGPVNQUUKUTGEQIPK\GFKPVJG5VCVGOGPVQH2TQVCPF.QUUYJGPGXGT
the carrying amount of an asset/cash generating unit exceeds its recoverable amount.
iv)
DEPRECIATION
&GRTGEKCVKQPQPZGFCUUGVUKURTQXKFGFQPUVTCKIJVNKPGOGVJQFCVVJGTCVGUCPFKPVJGOCPPGTRTGUETKDGFKP5EJGFWNG:+8VQ
the Companies Act, 1956.
1PKPETGOGPVCNFGETGOGPVCNEQUVCTKUKPIQPCEEQWPVQHVTCPUNCVKQPQHHQTGKIPEWTTGPE[NKCDKNKVKGUHQTCESWKUKVKQPQHZGFCUUGVU
depreciation has been provided as aforesaid over the residual life of the respective plants.
39
%CRKVCNGZRGPFKVWTGQPCUUGVUPQVQYPGFD[VJGEQORCP[YKVJGZENWUKXGTKIJVVQWUGKUCOQTVK\GFQXGTCRGTKQFQHXG[GCTU
from the year in which the relevant assets have been completed and available for use. In other cases, these are amortized in
the year in which expenditure is incurred.
Premium of leasehold land is amortised over the period of lease except leasehold land acquired on lease of ninety years or
OQTG&GRTGEKCVKQPQPZGFCUUGVUEQUVKPIWRVQ` 5,000/- is charged @ 100% on pro-rata basis.
v)
REVENUE/EXPENDITURE RECOGNITION
4GXGPWGKUTGEQIPK\GFYJGPKVECPDGTGNKCDN[OGCUWTGFCPFYJGPCNNUKIPKECPVTKUMUCPFTGYCTFUQYPGTUJKRCTGVTCPUHGTTGF
to the customer. Sales are inclusive of sales during trial run, excise duty and net of sales tax/vat.
Dividend income is recognized when the Companys right to receive dividend is established. Interest income is recognized on
accrual basis in the income statement.
Expenditure is accounted for on accrual basis and provision is made for all known losses and liabilities.
vi)
a)
Exchange differences relating to long-term monetary items, arising during the year, in so far as they relate to the acquisition
of depreciable capital assets are added to/deducted from the cost of asset and depreciated over the remaining useful
life of the asset.
b)
In other cases such differences are accumulated in Foreign Currency Monetary Item Translation Difference Account
CPFCOQTVK\GFKPVJG5VCVGOGPVQH2TQVCPF.QUUQXGTVJGDCNCPEGNKHGQHVJGNQPIVGTOOQPGVCT[KVGO
E
#NNQVJGTGZEJCPIGFKHHGTGPEGUCTGTGEQIPK\GFCUKPEQOGQTGZRGPUGUKPVJG5VCVGOGPVQH2TQVCPF.QUUKPVJGRGTKQF
in which they arise.
The premium or discount arising at the inception of forward exchange contracts is amortized & recognized as an expense/
income over the life of the contract. Exchange differences on such contracts which are long term foreign currency monetary
KVGOUCTGTGEQIPK\GFKPVJG5VCVGOGPVQH2TQVCPF.QUUKPVJGRGTKQFKPYJKEJVJGGZEJCPIGTCVGEJCPIG#P[RTQVQTNQUU
arising on cancellation of or renewal of such contracts is also recognized as income or expense for the period. Any gain/loss
arising on forward contracts which are long term foreign currency monetary items is recognized in accordance with para (a),
(b) and (c) above.
vii)
INVESTMENTS
+PXGUVOGPVUCTGENCUUKGFKPVQEWTTGPVCPFNQPIVGTOKPXGUVOGPVU%WTTGPVKPXGUVOGPVUGZEGRVHQTEWTTGPVOCVWTKVKGUQHNQPIVGTO
investments are stated at the lower of cost and quoted/ fair value. Long term investments are stated at cost less any provision
for other than temporary diminution in value.
viii)
INVENTORY VALUATION
Inventories are valued at lower of cost or net realizable value except scrap which is valued at net realizable value. The cost
KUFGVGTOKPGFD[WUKPITUVKPTUVQWV
(+(1OGVJQF(KPKUJGFIQQFUCPFYQTMKPRTQITGUUKPENWFGEQUVUQHEQPXGTUKQPCPF
other costs incurred in bringing the inventories to their present location and condition.
'ZEKUGFWV[QPENQUKPIUVQEMQHPKUJGFIQQFUCPFUETCRCTGCEEQWPVGFHQTQPVJGDCUKUQHRC[OGPVUOCFGKPTGURGEVQHIQQFU
cleared as also provision made for goods lying in the factory and included in the value of such stocks.
ix)
INCOME TAX
Provision for current income tax is made after taking credit for allowances and exemptions. In case of matters under appeal,
due to disallowance or otherwise, provision is made when the said liabilities are accepted by the Company.
/KPKOWO#NVGTPCVG6CZ
/#6RCKFKPC[GCTKUEJCTIGFVQ5VCVGOGPVQH2TQVCPF.QUUCUEWTTGPVVCZ6JGEQORCP[TGEQIPK\GU
MAT credit available as an asset only to the extent that there is convincing evidence that the company will pay normal income
VCZFWTKPIVJGURGEKGFRGTKQFKGVJGRGTKQFHQTYJKEJ/#6ETGFKVKUCNNQYGFVQDGECTTKGFHQTYCTF
40
BORROWING COST
Borrowing cost includes interest, amortization of ancillary costs incurred in connection with the arrangement of borrowings and
exchange differences arising from short term foreign currency borrowings to the extent they are regarded as an adjustment to
interest cost.
Borrowing Cost that are attributable to the acquisition or construction of qualifying assets are capitalised as part of the cost
of such assets. A qualifying asset is one that necessarily takes substantial period of time to get ready for its intended use. All
QVJGTDQTTQYKPIEQUVUCTGGZRGPUGFKPVJG5VCVGOGPVQH2TQVCPF.QUUKPVJGRGTKQFVJG[QEEWT
xi)
/QFXCV%GPXCV8#6ENCKOGFQPECRKVCNCUUGVUKUETGFKVGFVQCUUGVUECRKVCNYQTMKPRTQITGUUCEEQWPV/QFXCV%GPXCV8#6
on purchase of raw materials and other materials are deducted from the cost of such materials.
xii)
CLAIMS
Claims receivable are accounted for depending on the certainty of receipt and claims payable are accounted at the time of
acceptance.
xiii)
PROPOSED DIVIDEND
Dividend as proposed by the Board of Directors is provided for in the books of account, pending approval at the Annual General
Meeting.
xiv)
C
5JQTVVGTOGORNQ[GGDGPGVUCTGTGEQIPK\GFCUCPGZRGPUGCVVJGWPFKUEQWPVGFCOQWPVKPVJG[GCTKPYJKEJTGNCVGF
service is rendered.
D
6JG%QORCP[JCUFGPGFEQPVTKDWVKQPRNCPHQTRQUVTGVKTGOGPVDGPGVUPCOGN['ORNQ[GGU2TQXKFGPV(WPFUEJGOG
administered through provident fund commissioner. The Companys contribution is charged to revenue every year.
c)
Companys contribution to state plans namely Employees State Insurance Fund is charged to revenue every year.
F
6JG%QORCP[JCUFGPGFDGPGVURNCPUPCOGN[.GCXGGPECUJOGPV%QORGPUCVGFCDUGPEGCPF)TCVWKV[VJGNKCDKNKV[
for which is determined on the basis of Actuarial valuation at the end of the year. Gratuity Trust is administered through
Life Insurance Corporation of India.
G
6GTOKPCVKQPDGPGVUCTGTGEQIPK\GFCUCPGZRGPUGKOOGFKCVGN[
H
)CKPQT.QUUCTKUKPIQWVQHCEVWCTKCNXCNWCVKQPCTGTGEQIPK\GFKPVJG5VCVGOGPVQH2TQVCPF.QUUCUKPEQOGQTGZRGPUG
xv)
PROVISIONS
Show cause notices issued by various government authorities are not considered as obligation. When the demand notice are
TCKUGFCICKPUVUWEJUJQYECWUGPQVKEGCPFCTGFKURWVGFD[VJG%QORCP[VJGPVJGUGCTGENCUUKGFCURQUUKDNGQDNKICVKQPU
Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation as a
TGUWNVQHRCUVGXGPVUCPFKVKURTQDCDNGVJCVVJGTGYKNNDGCPQWVQYQHTGUQWTEGU
xvi)
>KXCVKXGEQPVTCEVUQVJGTVJCPHQTYCTFEQPVTCEVUCTGOCTMGFVQOCTMGVCV[GCTGPFCPFVJGTGUWNVCPVRTQVNQUUKUEJCTIGFVQ
5VCVGOGPVQH2TQVCPF.QUUGZEGRVKPECUGUYJGTGKVTGNCVGUVQVJGFGRTGEKCDNGZGFCUUGVUKPYJKEJECUGVJGUGCTGCFLWUVGF
to the carrying cost of such assets.
#EQPVKPIGPVNKCDKNKV[KUCRQUUKDNGQDNKICVKQPVJCVCTKUGUHTQORCUVGXGPVUYJQUGGZKUVGPEGYKNNDGEQPTOGFD[VJGQEEWTTGPEG
or non occurrence of one or more uncertain future events beyond the control of the company. Where the potential liabilities
JCXGCNQYRTQDCDKNKV[QHET[UVCNNK\KPIQTCTGXGT[FKHEWNVVQSWCPVKH[TGNKCDN[VJGUGCTGVTGCVGFCUEQPVKPIGPVNKCDKNKVKGU5WEJ
NKCDKNKVKGUCTGFKUENQUGFKPVJGPQVGUDWVCTGPQVRTQXKFGFHQTKPVJGPCPEKCNUVCVGOGPVUCNVJQWIJVJGTGECPDGPQCUUWTCPEG
TGICTFKPIVJGPCNQWVEQOGQHVJGNGICNRTQEGedings, the company does not expect them to have a materially adverse impact
QPVJGPCPEKCNRQUKVKQPQTRTQVCDKNKV[
41
NOTES TO ACCOUNT
(` in Lacs)
31.03.2014
31.03.2013
37,500.00
30,000.00
7,500.00
5,000.00
45,000.00
35,000.00
19,371.50
19,371.50
4,293.16
761.87
23,664.66
20,133.37
No. of shares
% Holding
in the class
No. of shares
% Holding in
the class
4,10,68,673
21.20%
4,10,68,673
21.20%
4,00,32,750
20.67%
4,00,32,750
20.67%
3,97,72,500
20.53%
3,97,72,500
20.53%
3,95,53,500
20.42%
3,95,53,500
20.42%
1,25,85,436
6.50%
1,25,85,436
6.50%
1,07,14,285
5.53%
1,07,14,285
5.53%
7,67,455
17.88%
2,21,797
29.11%
7,28,355
16.97%
1,76,055
23.11%
7,34,880
17.12%
1,74,090
22.85%
7,42,915
17.30%
1,89,925
24.93%
4,40,390
10.26%
4,29,560
10.01%
2,63,350
6.13%
No. of shares
Amount
No. of shares
Amount
19,37,15,000
19,371.50
19,37,15,000
19,371.50
42
19,37,15,000
19,371.50
19,37,15,000
19,371.50
No. of shares
Amount
No. of shares
Amount
7,61,867
761.87
35,31,288
3531.29
7,61,867
761.87
42,93,155
4,293.16
7,61,867
761.87
(` in Lacs)
43
31.03.2013
1.00
13.50
1.00
13.50
2,91,790.85
1,17,256.09
4,09,046.94
2,68,172.97
23,617.88
2,91,790.85
1,67,000.00
33,000.00
2,00,000.00
1,46,236.19
20,763.81
1,67,000.00
1,48,419.14
63,548.88
33,000.00
96.86
45.81
16.46
7.79
31.03.2014
1,78,801.10
7,87,862.54
1,12,103.92
57,192.48
20,763.81
96.86
0.11
16.46
0.02
1,48,419.14
6,07,224.50
15,88,317.60
6,20,829.47
12,56,839.37
5,41,820.96
1,736.85
1,049.80
30,000.00
22,40,883.92
17,99,710.13
NOTE 4.1 Security Detail of Long Term Borrowings (Including Current Maturities)
(i) Secured
(a) ` 21,98,661.08 Lacs (Previous year `.CEUUGEWTGFD[TUVEJCTIGQPCNNOQXGCDNGRTQRGTV[QHVJG%QORCP[KPENWFKPIRNCPVOCEJKPGT[
tools, spares, accessories, {excluding assets exclusively charged to IKB Deutsche Industrie Bank (Germany), Unicredit Bank (Austria), Bayern LB Bank
(Germany), KFW IPEX GmbH (Germany), Deutsche Bank S.p.A. (Italy) and Intesa Sanpaolo S.p.A. (Hongkong)} created and/or to be created in favour
of Companys bankers.
6JGUG CTG HWTVJGT UGEWTGF D[ TUV EJCTIG QP +OOQXCDNG RTQRGTVKGU UKVWCVGF CV 2NQV 0Q +PFWUVTKCN #TGC %JCPFKICTJ >CDCUUK QP #ODCNC
Chandigarh Road, 186, G.T. Road, Ludhiana, Bangihatti Serampore (Near Kolkata), village Dhubenchhapar, Khadiapali, Thelkoloi, Jangla, Brahmmipali,
>DC-CVCTDCIC6WODGMGNCCPF&JCTTQRCPK&KUVV5CODCNRWT1FKUJCVYQEKV[QHEGUCV%JQYTKPIJGG4QCF-QNMCVCCPFTGUKFGPVKCNRTGOKUGUUKVWCVGF
at Alipore, Kolkata (both present & future), ranking pari-passu interse between term lenders and further secured by personal guarantee of Chairman cum
/CPCIKPI&KTGEVQTCPF8KEG%JCKTRGTUQPEWO9JQNG6KOG&KTGEVQT
` 2,09,662.23 Lacs (Previous year `.CEUKUHWTVJGTUGEWTGFD[TUVEJCTIGKPHCXQWTQHUGEWTKV[CIGPVCEVKPIHQTKVUGNHCPFQVJGTNGPFGTUKP
respect of Companys immovable property situated at D-818, New Friends Colony New Delhi.
(b) ` 1,52,964.45 Lacs (Previous year `.CEUKUUGEWTGFD[UWDUGTXKGPVEJCTIGQPGPVKTGEWTTGPVCPFZGFCUUGVUQHVJG%QORCP[CPFHWTVJGT
UGEWTGFD[RGTUQPCNIWCTCPVGGQH%JCKTOCPEWO/CPCIKPI&KTGEVQTCPF8KEG%JCKTRGTUQPEWO9JQNG6KOG&KTGEVQT
(c) ` 8,634.91 Lacs (Previous year `.CEUKUUGEWTGFD[GZENWUKXGTUVEJCTIGKPHCXQWTQHUGEWTKV[CIGPVUCEVKPICUCIGPVHQTGSWKROGPVUWRRNKGTU
QPVJGURGEKEGSWKROGPVUWRRNKGFD[URGEKEUWRRNKGTURGEKEGSWKROGPVUOQXCDNGCUUGVU
QHXCNWGCRRTQZKOCVGN[` 10,000 Lacs ) erected/to be erected/
constructed/ installed at Rengali, Sambalpur, Odisha, wherein the equipments are located/ shall be located including CSP plant, CSP Caster shed, CSP
Tunnel Furnace shed, CSP Mill shed and Hot Rolled Coils Handling & Storage and further secured by immovable property situated at Flat No. 215-C
Pocket C, IInd Floor, Sidharth Extention, New Delhi.
(d) ` 2,194.35 Lacs (Previous year `.CEUKUUGEWTGFD[GZENWUKXGTUVEJCTIGKPHCXQWTQHUGEWTKV[CIGPVUCEVKPICUCIGPVHQTGSWKROGPVUWRRNKGTU
QP VJG URGEKE GSWKROGPV UWRRNKGF D[ URGEKE UWRRNKGT URGEKE GSWKROGPVU OQXCDNG CUUGVU GTGEVGFVQ DG GTGEVGF EQPUVTWEVGF KPUVCNNGF CV 4GPICNK
Sambalpur, Odisha, wherein the equipments are located/ shall be located includes Hicon/H2 Bell Annealer.
(e) ` 25,105.08 Lacs (Previous year ` .CEU KU UGEWTGF D[ GZENWUKXG TUV EJCTIG KP HCXQWT QH UGEWTKV[ CIGPVU CEVKPI CU CIGPV HQT GSWKROGPV
UWRRNKGTUQPVJGURGEKEGSWKROGPVUWRRNKGFD[URGEKEUWRRNKGTURGEKEGSWKROGPVUOQXCDNGCUUGVU
QHXCNWGCRRTQZKOCVGN[` 19,435 Lacs) erected/to
be erected/ constructed/ installed at Rengali, Sambalpur, Odisha, wherein the equipments are located/ shall be located including Pellet Plant, Centreless
Grinding Line, Combined Drawling Line and Pealing Line.
(f) ` 16,821.67 Lacs (Previous year `0+.KUUGEWTGFD[GZENWUKXGTUVEJCTIGKPHCXQWTQHUGEWTKV[CIGPVUCEVKPICUCIGPVHQTGSWKROGPVUWRRNKGTUQPVJG
URGEKEGSWKROGPVUWRRNKGFD[URGEKEUWRRNKGTURGEKEGSWKROGPVUOQXCDNGCUUGVUGTGEVGFVQDGGTGEVGFEQPUVTWEVGFKPUVCNNGFCV4GPICNK5CODCNRWT
Odisha, wherein the equipments are located/ shall be located includes New Coke Oven Plant, New Blast Furnace, New SMS, Heavy Bar Mill, CDQ Plant
and New Sinter Plant.
(g) ` 2,116.85 Lacs (Previous year ` 1,234.80 Lacs) including current Maturity of ` 380.00 Lacs (Previous year ` 185.00 Lacs) is secured by hypothecation of
URGEKECUUGVUWPFGTFGHGTTGFETGFKVRC[OGPVVGTOUCPFRGTUQPCNIWCTCPVGGQH%JCKTOCPEWO/CPCIKPI&KTGEVQT
(ii) Unsecured
` 30,000.00 Lacs (Previous year `0+.KUUGEWTGFD[RGTUQPCNIWCTCPVGGQH%JCKTOCPEWO/CPCIKPI&KTGEVQTCPF8KEG%JCKTRGTUQPEWO9JQNGVKOG
Director.
NOTE 4.2
1. Terms of repayment
(i)
(a)
(b)
(c)
(d)
(e)
2014-15
2015-16
1,95,614.46
3,60,973.00
2016-17 &
beyond
18,80,912.40
44
(ii)
(a)
(b)
Foreign Currency Loan of ` 51,085.00 Lacs (Previous year ` 46,231.50 Lacs) is outstanding as on 31.03.2014 is repayable in half yearly installments carrying
interest @ 3/6 Months on which Interest is payable @ LIBOR + (500 to 750 )basis points (presently 4.45% to 7.95%) p.a. Amount & period of repayment is
as mentioned.
(c)
Unsecured loan amounting of ` .CEU UCPEVKQPGF D[ #NNCJCDCF DCPM CU C UWD NKOKV QH VGTO NQCP VQ DG UCPEVKQPGF HQT 2JCUG8+ 4GRC[CDNG KP
quarterly installment carrying interest @ 13.25% repayments start with term loan from 01.04.2018. Amount & period of repayment is as mentioned.
(d)
The Company also has term loan aggregating to ` 31,099.57 Lacs (Previous year ` 53,548.64 Lacs). From Bank of India of ` 229.86 Lacs (Previous year
` 12,000.00 Lacs) presently at 13.25% p.a., Canara Bank of ` 6,062.94 Lacs (Previous year ` 11,800.00 Lacs) @ 13.25%, United Bank Of India of ` 1,598.61
Lacs (Previous year `.CEU"RC8KLC[C$CPMQH` 8,038.00 Lacs (Previous year ` 10,000.00 Lacs) @ 13.25%, and Andhra Bank of
` 15,170.15 (Previous year `.CEU"RCYKVJOQPVJN[TGUVKUWVKNKUGFHQT2JCUG+8QHVJG1FKUJCRTQLGEV#OQWPVFWGKUTGRC[CDNGKPJCNH
yearly / yearly installments as mentioned. The lenders were having option to convert into equity shares in case the company comes out with IPO within 3
[GCTUHTQOVJGFCVGQHTUVFKUDWTUGOGPVCVNQYGTRTKEGQHDCPFKPECUGQHDQQMDWKNFKPIQTCVVJGKUUWGRTKEGKPECUGQHZGFRTKEGKUUWGJQYGXGTVJGQRVKQP
of conversion has expired during the year.
2.
679.84
943.88
45
31.03.2014
(` in Lacs)
31.03.2013
1,41,706.81
1,11,665.64
1,623.72
1,40,083.09
636.21
946.34
1,582.55
1,10,083.09
14,618.50
93,555.04
10,653.50
1,18,827.04
16,316.69
1,90,299.75
2,06,616.44
1,547.14
1,324.47
2,871.61
1,519.08
1,315.70
2,834.78
3,40,521.06
57,973.91
2,04,956.55
48,262.45
91,045.95
-
1,97,641.10
5,173.04
8,000.00
-
25,000.00
5,000.00
1,001.48
4,98,542.40
4,86,033.14
NOTE 8.1
Security Detail of Short Term Borrowings
(i)
Secured
(a)
(b)
(c)
(ii)
Unsecured
` NIL (Previous year `.CEUKUUGEWTGFD[RGTUQPCNIWCTCPVGGQH%JCKTOCPEWO/CPCIKPI&KTGEVQTCPF8KEG%JCKTRGTUQPEWO9JQNGVKOG&KTGEVQT
(` in Lacs)
31.03.2014
31.03.2013
189.81
1,34,503.54
1,34,693.35
123.74
91,067.36
91,191.09
1,95,614.46
14,732.38
4,385.43
4,486.01
118.40
11.81
18,830.46
7,173.23
2,45,352.18
1,95,305.91
11,681.41
4,649.28
2,894.96
338.86
13.12
9,157.76
5,076.69
2,29,117.99
363.05
125.00
180.88
143.72
Other Provisions
Provision for Proposed Equity Dividend
96.86
96.86
45.82
0.11
16.46
16.46
7.79
0.02
6,446.95
2,194.80
178.12
142.86
7,335.93
2,719.83
46
(` in Lacs)
GROSS BLOCK
DESCRIPTION
OF
FIXED ASSETS
As At
01.04.2013
Additions
During the
Year
Adjustment
during the
year
DEPRECIATION
Sale/
Discarded
During the
Year
As At
31.03.2014
As At
01.04.2013
For the
Year
NET BLOCK
Adjustment
during the
Year
Written back
during the
Year
As at
31.03.2014
As At
31.03.2013
As At
31.03.2014
Tangible Assets
Freehold Land
18,202.14
1,493.87
317.67
20,013.68
20,013.68
18,202.14
Leasehold Land
25,212.73
1,424.99
(306.55)
26,331.17
41.75
38.37
80.12
26,251.05
25,170.98
3,95,823.35
2,45,316.59
50,455.99
561.79
6,91,034.14
24,936.04
14,377.28
307.67
39,005.65
6,52,028.49
3,70,887.31
2,680.66
2,680.66
863.63
127.33
990.96
1,689.70
1,817.03
12,00,849.41
5,05,647.36
2,07,705.78
10,107.72
19,04,094.83
2,46,404.66
71,284.57
8,083.55
3,09,605.68
15,94,489.15
9,54,444.75
1,528.73
113.89
1,642.62
496.40
98.44
594.84
1,047.78
1,032.33
613.52
59.22
0.07
672.67
200.75
36.67
0.02
237.40
435.27
412.77
8GJKENGU
3,905.00
375.85
13.34
4,267.51
1,988.06
301.23
12.12
2,277.17
1,990.34
1,916.94
4,904.71
2,183.20
7,087.91
4,561.93
2,302.67
6,864.60
223.31
342.78
16,53,720.25
7,56,614.97
2,58,172.89
10,682.92
26,57,825.19
2,79,493.22
88,566.56
8,403.36
3,59,656.42
22,98,168.77
13,74,227.03
Technical Knowhow
127.64
127.64
127.64
127.64
Computer Softwares
162.04
1,720.84
1,882.89
47.42
33.35
80.77
1,802.10
114.62
Sub-total (B)
289.68
1,720.84
2,010.53
175.06
33.35
208.41
1,802.10
114.62
Total(A+B)
16,54,009.93
7,58,335.81
2,58,172.89
10,682.92
26,59,835.72
2,79,668.28
88,599.91
8,403.36
3,59,864.83
22,99,970.87
13,74,341.65
Previous Year
14,63,189.37
1,47,700.57
48,831.99
5,712.00
16,54,009.93
2,08,426.82
75,903.97
1,248.85
3,413.66
2,79,668.28
10,57,831.41
14,19,398.16
1,493.44
33,57,802.28
27,95,233.25
Building
Railway Siding
1HEG'SWKROGPV
Sub-total (A)
Intangible Assets
Capital Work-in-Progress
Intangible Assets Under Development
Total
Note:
1. No write off has been done for lease hold land acquired on lease of 90 years and more.
2. Depreciation for the year includes ` 761.64 Lacs (Previous year ` 1,248.85 Lacs) charged to capital work in progress.
3. Adjustment during the year includes:
a) Addition of `NCEUQPCEEQWPVQHDQTTQYKPIEQUVGZEJCPIGWEVWCVKQP
b) ` 11.12 Lacs (Previous year Nil) regrouped from Building to leasehold land and ` 317.67 Lacs (Previous year Nil) regrouped from leasehold land to freehold land.
47
(` in Lacs)
31.03.2014
NOTE -13 NON-CURRENT INVESTMENT
QUOTED
Long Term, Trade (Valued At Cost)
Investment in Equity Shares (Fully paid up)
- ASSOCIATES
Nova Iron & Steel Ltd ( Refer note 32 )
1,42,69,146 (Previous Year 1,42,69,146 ) Equity Shares of ` 10/-each
- OTHERS
Orissa Sponge Iron & Steel Ltd
840 (Previous Year 840 ) Equity Shares of ` 10/-each
Aggregate Value of Quoted Investment
UNQUOTED
Long Term, Trade (Valued At Cost)
Investment in Equity Shares (Fully paid up)
- ASSOCIATES
Ambey Steel & Power Pvt Ltd
28,14,215 (Previous Year 28,14,215 ) Equity Shares of ` 100/-each
Aarti Minerals (Australia) PTY. Ltd.
5,66,000 ( Previous Year 5,66,000 ) Ordinary Shares of AUD 1 each
Less :- Provision for diminution
- JOINT VENTURE
Rohne Coal Company Pvt. Limited
2,40,900 (Previous Year 2,40,900 ) Equity Shares of `10/-each fully paid up
- OTHERS
Skap Electronics Pvt. Ltd.
980 ( Previous Year 980 ) Equity Shares of `100/-each
Investment in Preference Shares (Fully paid up)
- JOINT VENTURE
Rohne Coal Company Pvt. Limited
69,19,778 (Previous Year 69,19,778 ) 1 % Non Cumulative Redeemable
Preference Shares of `10/-each
Aggregate Value of Unquoted Investment
Aggregate Value of Quoted Investment
Aggregate Value of Unquoted Investment
Market Value of Quoted Investment
NOTE - 14 LONG TERM LOANS AND ADVANCES
(Unsecured, Considered good)
Capital Advances
Security Deposits
Loans and Advances to Employees*
#FXCPEG(QT.QPI6GTO+PXGUVOGPV
6QC,QKPV8GPVWTG
MAT Recoverable
(A)
(B)
(A+B)
31.03.2013
7,672.35
7,672.35
7.80
7,680.15
7.80
7,680.15
2,828.29
2,828.29
295.04
(295.04)
295.04
(295.04)
24.09
24.09
982.45
982.45
691.98
4,526.81
12,206.96
7,680.15
4,526.81
2,725.95
691.98
4,526.81
12,206.96
7,680.15
4,526.81
1,448.91
67,857.62
8,956.61
613.38
359.93
82,940.00
1,60,727.54
40,772.91
7,680.60
1,237.57
232.55
63,240.00
1,13,163.63
1,742.06
2,000.12
3,742.18
2,000.12
1,742.06
3,379.30
1,960.88
5,340.18
1,960.88
3,379.30
234.49
1,976.55
3,379.30
48
(` in Lacs)
NOTE - 16 CURRENT INVESTMENT
UNQUOTED
Non- Trade (Valued at Lower of Cost and Fair Value)
Investment in Bonds
Indusind Bank
NIL ( Previous Year 10 ) Unsecured, Non Convertible Bond of
` 10 Lacs each, fully paid up
Cholamandlam Investment & Finance Co.Ltd (Bonds)
NIL (Previous Year 100 ) Bonds of ` 5 lacs each
Investment in Mutual fund - Liquid Fund
Canara Robeco Indigo Growth Fund-IG-GP
NIL ( Previous Year 8,20,761.9950 ) Units of ` 10/- each
Canara Robeco Gold Saving Fund-dividend
12,32,869.1413 (Previous Year 13,69,762.5301 )Units of ` 10/- each
Less :- Provision for diminution
CP1G Union KBC Capital Protection Oriented Fund
19,99,990(Previous Year 19,99,990 )Units of ` 10/- each
CP2G Union KBC Capital Protection Oriented Fund
20,00,000(Previous Year 20,00,000 )Units of ` 10/- each
CP5G Union KBC Capital Protection Oriented Fund
10,00,000(Previous Year Nil )Units of ` 10/- each
EFGR Union KBC Equity Fund Growth
NIL ( Previous Year 10,00,000 ) Units of ` 10/- each
SBI - Magnum Income - Fund Growth
NIL (Previous Year 17,35,285.6450 )Units of ` 10/- each
Canara Robeco Capital Protection Oriented Fund
5,50,000 (Previous Year NIL) Units of ` 10/- each
Canara Robeco Tresure Advantage Fund-Dividend
289.6491 (Previous Year 1907.2072 )Units of ` 1000/- each
Canara Robeco Monthly Income Plan
38535.8780(Previous Year NIL )Units of ` 10/- each
Canara Robeco Short Term Fund Growth
26120.2727 (Previous Year NIL )Units of ` 10/- each
Canara Robeco Income Regular Growth
39728.1930 (Previous Year NIL )Units of ` 10/- each
PNB- Principal Income Fund Long Term Plan
4,93,710.0710 (Previous Year NIL )Units of ` 10/- each
DSP Blackrock MIP Fund Growth
2,36,603.5090(Previous Year 2,36,603.5090 )Units of ` 10/- each
UTI Floating Rate Growth Fund
5036.1868 (Previous Year Nil) )Units of ` 100/- each
UTI Nifty Index Fund-Growth
9778.7089 (Previous Year Nil) )Units of ` 100/- each
UTI short Term Income Fund
Nil (Previous Year 15,05,325.1140 )Units of ` 10/- each
Aggregate Value of Unquoted Investment
NOTE - 17 INVENTORIES
Raw Material
Raw Material-in-Transit
Work-in-Progress
Finished Goods
Finished Goods in Transit
Stock-in-Trade
Stores & Spares
Others
49
31.03.2014
31.03.2013
100.00
510.63
100.00
120.13
(5.53)
138.00
-
199.77
199.77
200.00
200.00
100.00
100.00
500.00
55.00
3.59
23.66
5.18
3.75
10.00
100.00
50.00
50.00
103.20
4.00
949.09
200.00
2,122.06
1,87,755.09
6,017.91
4,256.19
78,469.98
5,832.93
1,269.86
33,802.94
806.39
3,18,211.29
94,362.02
4,270.35
5,747.89
72,111.17
5,833.86
5,819.71
10,356.95
769.50
1,99,271.45
(` in Lacs)
NOTE - 18 TRADE RECEIVABLE
(Unsecured, Considered Good)
Outstanding for a period exceeding six months from due date
Others
NOTE -19 CASH & BANK BALANCE
(A) Cash and Cash Equivalents
Cash on Hand
Balances with Scheduled Banks
- In Current Account
- Deposits with original maturity of less than three months
(B) Other Bank Balances
Fixed Deposits Having Maturity Period:- For More Than 12 Months*
- 3 to 12 Months*
Less Non Current Fixed Deposit
31.03.2014
31.03.2013
2,922.21
1,59,514.48
1,62,436.69
3,904.12
1,67,936.49
1,71,840.61
59.63
93.65
12,425.57
1,359.04
63,806.67
2,102.13
245.22
3,749.29
17,838.75
234.49
17,604.26
6.49
7,356.38
73,365.32
73,365.32
1,14,547.09
1,34,257.88
7,802.25
397.58
17,080.71
0.57
28,277.10
1,68,105.30
7,739.38
353.76
13,536.40
1,500.00
5.76
27,688.60
1,85,081.78
96.76
96.76
8,73,328.30
2,35,571.33
11,08,899.63
7,78,405.37
1,55,895.28
9,34,300.65
12,625.63
449.00
6,895.49
19,970.12
11,28,869.75
10,246.81
1,738.69
5,461.04
17,446.54
9,51,747.19
50
(` in Lacs)
NOTE -23 OTHER INCOME
Misc. Income
2TQVQP5CNGQH5JQTV6GTO+PXGUVOGPV
2TQVQP5CNG&KUECTFGFQH(KZGF#UUGVU
0GV
Diminution Write Back
Dividend Received on Current Investment
NOTE -24 COST OF RAW MATERIAL CONSUMED
Raw Material Consumed
Less :
Cost of Material Transferred to Projects Commissioned /Under Commissioning /Trial Run
NOTE -25 CHANGE IN INVENTORIES OF FINISHED GOODS, WORK-IN-PROGRESS &
STOCK-IN-TRADE
Opening Stock
Finished Goods
Stock-in-Trade
Work-In-Progress
Others
Closing Stock
Finished Goods
Stock-in-Trade
Work-In-Progress
Others
Net
NOTE -26 EMPLOYEES BENEFITS EXPENSES
Salary, Wages & Bonus
Contribution to PF & Other Funds
5VCHH$GPGVU
Less :
-Transferred to Projects Commissioned /Under Commissioning /Trial Run
51
31.03.2014
31.03.2013
159.18
141.40
15.16
2.77
318.51
204.62
19.46
274.87
3.77
24.26
526.98
4,65,912.19
4,30,771.02
842.59
4,65,069.60
919.24
4,29,851.78
77,945.02
5,819.71
5,747.89
769.50
90,282.12
59,924.03
342.82
2,222.43
913.62
63,402.90
84,302.91
1,269.86
4,256.19
806.39
90,635.35
(353.23)
77,945.02
5,819.71
5,747.89
769.50
90,282.12
(26,879.22)
40,038.34
545.52
667.88
41,251.74
31,097.40
530.18
683.85
32,311.43
13,729.86
27,521.88
9,957.26
22,354.17
2,95,490.64
31,610.51
3,27,101.15
2,24,943.98
7,019.90
2,31,963.88
4,313.42
3,22,787.73
3,536.71
2,28,427.17
1,78,984.84
1,43,802.89
1,20,261.80
1,08,165.37
(` in Lacs)
NOTE - 28 OTHER EXPENSES
Stores Consumed
Power & Fuel
Excise Duty Provided on Stock (Net)
Rates and Taxes
Legal & Professional Charges
Insurance
Auditors' Remuneration
Travelling & Conveyance
Advertisement & Sales Promotion
Postage, Telegrams & Telephone
Utility & Facility
Rebate and Discount
Selling and Distribution Expenses
Selling Commission
Repair and Maintenance:
- Building
- Machinery
8GJKENG
Rent
Other Administrative Expenses
Exchange Fluctuation (Net)
Investment Written Off
Provision for Doubtful Debts
Diminution in Investment
Less :
-Transferred to Projects Commissioned /Under Commissioning /Trial Run
31.03.2014
31.03.2013
29,179.12
94,124.28
3,161.73
815.10
2,013.65
554.55
124.52
2,894.00
168.06
531.03
587.10
3,266.85
48,127.30
492.25
28,865.78
78,336.82
107.23
793.27
802.33
384.71
104.83
2,428.24
61.41
439.54
1,225.22
3,096.31
27,907.76
74.80
342.83
4,882.93
1,125.58
24.01
427.13
2,819.75
39.36
5.53
1,95,706.66
126.59
5,973.63
1,134.21
201.12
507.41
557.36
1.43
184.80
295.04
1,53,609.84
8,218.39
1,87,488.27
11,112.07
1,42,497.77
31.03.2014
NOTE - 29 CONTINGENT LIABILITY
A Contingent Liability
Bills discounted with banks
Claims against the Company not acknowledged as debt
Central / State Sales Tax Act
Odisha Entry Tax Act
Central Excise Act,1944
Income Tax Act,1961
Service Tax
B Commitments
a) Capital Commitments
Estimated amount of contracts remaining to be executed on capital account and not
provided for (Net of Advances)
b) Other Commitments
Outstanding guarantees furnished to Banks & Financial Institutions including in
respect of letters of credit (availed by the company)
(` in Lacs)
31.03.2013
43,239.49
12,601.42
8,145.87
516.98
13,791.26
3,847.37
10.93
17,468.69
13,008.70
6,802.45
516.98
5,010.03
5,373.05
14.56
2,63,064.13
1,88,702.20
49,202.51
47,882.38
NOTE - 30 130 MW Power Plant, Cold Rolling Mill, Galvanised and Steel Strips Plant and Tube Mill Plant have been commissioned during the
year. Pellet Plant is put under Trial Run.
52
31.03.2014
EXPENDITURE DURING CONSTRUCTION / INSTALLATION
Opening Balance
Pre-Operative/Trial Run Expenses transfer from Statement of
2TQVCPF.QUU
4GHGTPQVG
Finance Costs (Refer note-27)
Depreciation
Total
Less : Capitalised during the year
Transferred to Capital Work in Progress
NOTE-32
1,92,837.00
2,88,742.31
21,988.57
22,790.84
1,78,984.84
761.64
2,02,537.32
4,91,279.63
2,50,719.79
2,40,559.84
1,20,261.80
1,248.85
1,43,499.22
3,36,336.22
47,593.91
2,88,742.31
6JGEQORCP[JCUOCFGNQPIVGTOUVTCVGIKEKPXGUVOGPVKP0QXC+TQP5VGGN.VFJCXKPICEEWOWNCVGFNQUUGU6JGUCKFEQORCP[NGF
a scheme of capital reduction and restructuring with Honble High Court of Chhattisgarh, which approved the said scheme vide its
order dated 18th Sept., 2012.
Pursuant to the order of the Honble High Court, the capital of the said company has been reduced from 15,05,81,200 No. of Equity
Shares of ` 10/- each to 15,05,81,200 No. of Equity Shares of `. 2.40/- each. Also share of said companies were transferred during
the previous year under report which were acquired under SEBI (SAST) Regulations, in 2011.
Simultaneously, pursuant to share holders approval 100 shares of ` 2.40/- each have been consolidated to 24 equity shares of
` 10/- each.
In the opinion of management, the fall in market price of shares of Nova Iron & Steel Ltd. is temporary in nature. Based on legal opinion
sought no provision for diminution has been made.
31.03.2014
(` in Lacs)
31.03.2013
80.00
70.00
20.00
10.00
5.00
9.52
124.52
15.00
10.00
9.83
104.83
In respect of amounts due to Micro, Small and Medium Enterprises under The Micro, Small and Medium Enterprises Development
#EVVJG%QORCP[JCUEGTVKGFVJCVCUCRQNKE[VJGRC[OGPVVQUWRRNKGTUKUOCFGYKVJKPFC[UGZEGRVKPFKURWVGFECUGU6JG
amount remaining unpaid as at 31st March, 2014 was ` 189.81 Lacs (Previous year `.CEU+PKFGPVKGFECUGUPQKPVGTGUV
was paid or payable under the Act.
The detail of amount outstanding to Micro, Small and Medium enterprises based on available information with the company as under:(` in Lacs)
NOTE-35
31.03.2014
31.03.2013
The Company has recognized liability based on substantial degree of estimation for excise duty payable on clearance of goods lying
in stock as on 31.03.2014 of ` 8,379.87 Lacs (Previous year `.CEUCURGTGUVKOCVGFRCVVGTPQHFKURCVEJGU#EVWCNQWVQY
is expected in next year.
There is no other present obligation requiring provision in accordance with the guiding principles as enunciated in Accounting Standard
CUPQVKGFWPFGT%QORCPKGU
#EEQWPVKPI5VCPFCTF4WNGUCUKVKUPQVRTQDCDNGVJCVCPQWVQYQHTGUQWTEGUGODQF[KPI
GEQPQOKEDGPGVYKNNDGTGSWKTGF
53
NOTE-36 #URGT#EEQWPVKPI5VCPFCTF
#5'ORNQ[GG$GPGVUVJGFKUENQUWTGQHGORNQ[GGDGPGVUCUFGPGFKPVJG#EEQWPVKPI5VCPFCTFU
are given below:(A) &GPGF%QPVTKDWVKQP2NCPU
%QPVTKDWVKQPVQFGPGFEQPVTKDWVKQPRNCPTGEQIPK\GFCUGZRGPUGURTGQRGTCVKXGGZRGPUGFKUCUWPFGT
(` in Lacs)
31.03.2013
31.03.2014
a) Employer contribution to Provident Fund / Other Funds
530.18
545.52
b) Employer contribution to State Plans
i) Employee State Insurance
110.39
101.24
ii) Labour Welfare Fund
0.53
0.82
(B) &GPGF$GPGV2NCP
a) Leave Encashment/ Compensated Absence.
b) Contribution to Gratuity Funds - Employees Gratuity Fund.
+PCEEQTFCPEGYKVJ#EEQWPVKPI5VCPFCTF
#5
TGXKUGFVJGCEVWCTKCNXCNWCVKQPECTTKGFQWVKPTGURGEVQHVJGCHQTGUCKFFGPGFDGPGV
plans is based on the following assumption.
i)
Actuarial Assumptions:-
Leave
Encashment/
Compensated
Absence 31.03.14
Leave
Encashment/
Compensated
Absence 31.03.13
Employee
Gratuity
Fund
31.03.14
(` in Lacs)
Employee
Gratuity
Fund
31.03.13
8.50%
7.50%
N.A.
24.12
8.00%
7.50%
N.A.
24.30
8.50%
7.50%
9.40%
24.09
8.00%
7.50%
9.40%
24.30
1,459.43
116.75
301.92
(207.12)
(165.64)
1,505.34
1,157.04
92.56
330.79
(140.56)
19.60
1,459.43
2,566.34
205.31
425.11
(142.30)
(100.47)
2,954.00
2,164.98
173.20
392.58
(104.43)
(59.98)
2,566.34
922.26
86.69
180.12
(142.30)
(2.97)
1,043.80
712.08
66.94
226.50
(104.43)
21.17
922.26
1,505.34
(1,505.34)
(1,505.34)
1,459.43
(1,459.43)
(1,459.43)
2,954.00
1043.80
(1,910.20)
(2.97)
(1,910.20)
2,566.34
922.26
(1,644.08)
21.17
(1,644.08)
54
v)
'ZRGPUGUTGEQIPKUGFKP5VCVGOGPVQH2TQVCPF.QUU
Leave
Encashment/
Compensated
Absence 31.03.14
Leave
Encashment/
Compensated
Absence 31.03.13
Employee
Gratuity
Fund
31.03.14
(` in Lacs)
Employee
Gratuity
Fund
31.03.13
6JG %QORCP[ KU GPICIGF KP VJG +TQP 5VGGN DWUKPGUU YJKEJ KP EQPVGZV QH #EEQWPVKPI 5VCPFCTF CU PQVKGF WPFGT
Companies (Accounting Standard) Rules,2006 is considered the only business segment.
(` in Lacs)
a)
31.03.2013
8,85,953.93
7,88,652.18
Gross revenue of the Company as per geographical segment is as follows :Within India
Outside India (Including export incentives and high sea sales)
Total
b)
31.03.2014
2,42,915.82
1,63,095.01
11,28,869.75
9,51,747.19
1,57,029.43
1,56,068.66
Trade Receivable of the Company as per geographical segment is as follows :Within India
Outside India
7,149.32
Total
19,151.25
1,75,219.91
1,64,178.75
6JG%QORCP[JCUEQOOQPZGFCUUGVUQVJGTEWTTGPVCUUGVUCPFNKCDKNKVKGUHQTRTQFWEKPIIQQFUHQTFQOGUVKECUYGNNCUQXGTUGCUOCTMGV
NOTE-38 Disclosure in accordance with the Accounting Standard-18 Related Party Transaction.
(i)
8KEG%JCKTRGTUQP9JQNG6KOG&KTGEVQT
(Dy. Managing Director) w.e.f 07.09.2013
(Whole Time Director)
(Whole Time Director)
(Whole Time Director)
Subsidiary Companies:
Aarti Minerals (Australia ) PTY Ltd. (upto 30.03.2013)
Skap Electronics (P) Ltd. (upto 23.11.2012)
Aarti Resources Mozambique Limitada (Liquidated on 30.03.2013)
M/s Global Steel & Minerals Pte. Ltd. (Incorporated on 25.04.2013)*
55
(iii) Associates:
Nova Iron & Steel Limited
Ambey Steel & Power Private Limited
Aarti Minerals (Australia ) PTY Ltd. (w.e.f 31.03.2013)
Jasmine Steel Trading Ltd.
Marsh Steel Trading Ltd.
8KUKQP5VGGN.VF
Diyajyoti Steel Ltd
(iv) Joint Venture:
Rohne Coal Company Pvt. Ltd.
(v)
'PVGTRTKUGQXGTYJKEJMG[OCPCIGTKCNRGTUQPPGNCPFVJGKTTGNCVKXGUJCXKPIUKIPKECPVKPWGPEG
Aarti International Ltd.
Atma Ram House Investment Pvt.Ltd.
Sanjay Singal (HUF)
Subsidiaries
Associates
31.03.2013
69.03
36.00
27.55
Mr. R.P.Goyal
/T*%8GTOC
Mr. A.K. Khushu
Total
Rent Paid
Skap Electronics
Atma Ram House
Invesment Pvt.Ltd.
Total
Rent Received
Ambey Steel & Power
Pvt. Ltd.
Investment Made:In Equity Shares :
Aarti Minerals (Austrila)
Pty.Ltd.
For Preference
Shares:
Rohne Coal Company
Pvt. Ltd.
Interest earned
Nova Iron & Steel Ltd.
Purchase
Nova Iron & Steel Ltd.
Sale
Nova Iron & Steel Ltd.
Advance Received
Aarti International Ltd.
Issue of Pref.Shares
of the Company
Jasmine Steel Trading
Ltd.
Marsh Steel Trading
Ltd.
8KUKQP5VGGN.VF
Diyajyoti Steel Ltd
Sanjay Singal
Aarti Singal
Sanjay Singal (HUF)
Aniket Singal
Total
31.03.2013
72.00
34.50
23.39
69.03
36.00
27.55
72.00
34.50
23.39
31.53
33.15
34.00
28.65
29.04
-
31.53
33.15
34.00
28.65
29.04
-
231.26
187.58
231.26
187.58
31.03.2014
31.03.2013
5.14
8.40
6.00
8.40
5.14
6.00
8.40
6.00
8.40
11.14
0.30
0.30
132.68
127.38
114.07
0.30
132.68
127.38
TOTAL
31.03.2014
31.03.2014
31.03.2013
Relative of key
managerial personnel
5.14
0.30
31.03.2014
31.03.2013
Enterprise over
which key managerial
personnel and their
relative having
UKIPKECPVKPWGPEG
31.03.2014
31.03.2014
31.03.2013
Key Managerial
Personnel
31.03.2014
31.03.2013
(` in Lacs)
Joint Ventures
114.07
908.05
838.20
908.05
838.20
2,650.01
12,158.79
2,650.01
12,158.79
1,427.80
395.09
1,427.80
395.09
101.48
101.48
19,399.65
5,570.88
19,399.65
5,570.88
19,123.35
6,077.60
19,123.35
6,077.60
18,866.73
19,088.40
7,097.50
5,633.76
18,866.73
19,088.40
14,944.90
14,565.85
8,748.50
6,050.00
1,20,787.38
7,097.50
5,633.76
24,379.74
14,944.90
14,565.85
76,478.13
24,379.74
29,510.75
56
8,748.50
8,748.50
6,050.00
6,050.00
Subsidiaries
Associates
Joint Ventures
31.03.2013
3.57
Mrs.Aarti Singal
2.22
3.57
2.68
4.99
2.22
4.99
Mr.R.N.Yadav
0.98
0.96
0.98
0.96
Mr. R.P.Goyal
1.61
3.30
1.61
3.30
/T*%8GTOC
3.05
1.18
3.05
1.18
11.43
13.11
11.43
13.11
31.03.2014
31.03.2013
TOTAL
2.68
31.03.2014
31.03.2013
Relative of key
managerial personnel
31.03.2013
31.03.2014
31.03.2013
Enterprise over
which key managerial
personnel and their
relative having
UKIPKECPVKPWGPEG
31.03.2014
31.03.2014
31.03.2013
Key Managerial
Personnel
31.03.2014
31.03.2014
31.03.2013
(` in Lacs)
Payable
Total
Trade/Other Receivable
Ambey Steel & Power
Pvt. Ltd.
0.30
0.30
4,150.53
439.72
4,150.53
439.72
Total
4, 150.53
440.02
41,50.53
440.02
13,692.00
13,692.00
359.93
232.55
Security Deposit
Atma Ram House
Investment Pvt.Ltd.
13692.00
13692.00
359.93
232.55
295.04
295.04
295.04
295.04
2,828.29
2,828.29
2,828.29
2,828.29
24.09
24.09
24.09
24.09
691.98
691.98
691.98
691.98
716.07
716.07
3,839.40
3,839.40
101.48
7,802.25
7,739.38
In Preference Share:
Rohne Coal Company
Pvt. Ltd.
Total
3,123.33
3,123.33
Advance Received
Aarti International Ltd.
101.48
7,802.25
7739.38
Note:-4GNCVGFRCTV[TGNCVKQPUJKRKUCUKPFGPVKGFD[VJG%QORCP[CPFTGNKGFWRQPD[VJGCWFKVQTU
57
NOTE-39
(` in Lacs)
31.03.2014
Nos.
31.03.2013
Nos.
19,37,15,000
19,37,15,000
19,37,15,000
19,37,15,000
1,88,95,349
2,87,49,143
3,69,68,750
(B)
4,76,44,492
56,357
3,70,25,107
(C)=(A+B)
24,13,59,492
23,07,40,107
63,548.88
53.61
57,192.48
0.13
57,192.35
(D)
53.61
1,937.53
0.13
(E)
63,548.88
59,130.01
(D/A)
32.78
29.52
(E/C)
26.33
25.63
NOTE-40
63,495.27
-
The Company has one joint venture namely Rohne Coal Company Private Limited incorporated in India. The Company has
24.09% holding in the joint venture.
$CUGFQPVJGCWFKVGFPCPEKCNUVCVGOGPVUTGEGKXGFVJGRTQRQTVKQPCVGUJCTGQHCUUGVUNKCDKNKVKGUKPEQOGCPFGZRGPFKVWTG
of the entity is as under:
58
31.03.2014
(` in Lacs)
31.03.2013
716.07
-8.36
707.71
716.07
-8.55
707.52
342.29
268.88
0.10
0.27
0.37
1,050.37
0.01
0.27
0.28
976.68
304.86
703.72
36.95
1,045.53
301.29
641.96
31.47
974.72
4.82
.02
4.84
1,050.37
1.18
0.76
0.02
1.96
976.88
0.64
0.47
0.45
2.24
0.39
3.52
The company has entered into derivatives instruments for hedging currency risk. Forward contracts entered into by the company
and outstanding as on 31.03.2014 are as follows :Previous Year
Current Year
Loan Payable
US$
Equivalent
(Lacs)
INR
Equivalent
(Lacs)
US$
Equivalent
(Lacs)
INR
Equivalent
(Lacs)
1,600.00
96,160.00
--
--
b) The Foreign currency exposure that are not hedged by derivatives instruments as on 31.03.2014 are as follows:i)
118.96
7,149.32
352.11
19,151.25
467.62
28,104.07
303.11
16,486.21
0.30
18.22
0.30
16.49
Creditors/ Acceptances
2,625.56
1,57,796.26
4,100.69
2,23,037.77
Loans/Interest Payable
Fixed Deposit
ii)
NOTE-42
6,43,377.85
12,203.80
6,63,756.01
Security Deposits
93.40
5,613.44
300.00
16,316.69
13.21
793.93
1.83
99.59
Current Year
(a) Number of Non-Resident Shareholders
(b) Number of Equity Shares held by them
(c) i)
ii)
1,07,14,285
1,07,14,285
US$
INR
US$
INR
8,693.13
5,35,714.00
9,626.49
5,35,714.00
2012-13
2011-12
NOTE-43
$CNCPEGU QP CEEQWPV QH VTCFGQVJGT TGEGKXCDNGU VTCFGQVJGT RC[CDNGU CPF NQCPU CPF CFXCPEGU CTG UWDLGEV VQ VJG EQPTOCVKQP CPF
reconciliation with respective parties.
NOTE-44
59
31.03.2014
12,296.44
679.45
20,174.48
104.36
12,489.15
4,252.80
10,324.27
10,242.00
7,176.28
205.79
5,819.71
83,764.73
(` in Lacs)
31.03.2013
9,758.47
151.96
19,714.13
15.15
8,680.14
3,050.95
11,652.87
4,780.95
1,904.88
214.53
342.82
60,266.85
(` in Lacs)
ii) Closing Stock :Iron Ore Pellet
H.R.Coil
Sponge Iron
Cold Rolled Steel Strips/Sheets/Coils
Pig Iron
Bars, Rods of Alloys Steel, Iron & Non Alloy Steel & Other Hot Rolled Products
Iron & Non Alloy Steel and Alloy Steel Ingots/Billets & Other Primary Forms
Galvanised Steel Strips/Sheets
Black & Galvanised Steel Tubes & Pipes & ERW Precision Tubes
Colour Coated Sheets
Cable Tape
Iron & Steel
31.03.2014
78.66
9,081.60
123.66
31,166.66
87.78
10,409.37
2,504.73
10,714.04
14,113.05
5,852.50
170.86
1,269.86
85,572.77
31.03.2013
0.00
12,296.44
679.45
20,174.48
104.36
12,489.15
4,252.80
10,324.27
10,242.00
7,176.28
205.79
5,819.71
83,764.73
31.03.2014
13,418.61
(` in Lacs)
31.03.2013
-
90,686.10
73,488.58
201.81
3,08,959.40
2,78,955.32
1,831.80
1,54,740.38
1,56,436.36
807.65
H.R. Coil
Sponge Iron
Cold Rolled Steel Strips/Sheets/Coils
Pig Iron
Bars, Rods of Alloys Steel, Iron & Non Alloy Steel & Other Hot Rolled Products
Metallurgical Coke
Iron & Non Alloy Steel and Alloy Steel Ingots/Billets & Other Primary Forms
5,682.38
20,588.06
2,26,210.66
1,83,871.26
Black & Galvanised Steel Tubes & Pipes & ERW Precision Tubes
1,96,728.67
1,31,474.52
60,538.57
52,449.61
7,939.99
6,840.31
2,897.24
2,411.87
Sale of Inputs
1,009.13
1,462.71
39,079.08
26,228.94
13,074.59
10,246.81
Export Incentive
B.
C.
6,895.49
5,461.04
11,28,869.75
9,51,747.19
89,581.83
1,09,217.05
4,819.79
2,19,523.76
37,502.33
5,267.43
4,65,912.19
97,887.24
1,17,198.91
4,727.65
1,82,812.87
22,783.21
5,361.14
4,30,771.02
33,238.10
33,238.10
29,165.64
29,165.64
60
D.
i)
ii)
iii)
iv)
Raw Material
Raw Material Traded
Stores & Spares
Capital Goods
E.
i)
ii)
iii)
iv)
v)
F.
i)
G.
i)
ii)
31.03.2014
94,369.96
25,630.24
5,967.37
21,683.13
(` in Lacs)
31.03.2013
97,540.26
23,805.81
3,989.02
66,076.84
162.97
28,990.13
19,017.33
119.28
321.46
44.82
26,884.89
27.23
140.48
2,26,569.04
1,50,194.12
Value of Imported and Indigenous Raw Material, Spares and Components consumed :-
Raw Material
Imported
Indigenous
Stores & Spares
Imported
Indigenous
31.03.2014
(` in Lacs)
% age
31.03.2013
(` in Lacs)
% age
1,17,743.54
3,48,168.65
4,65,912.19
25.27
74.73
100.00
1,26,619.63
3,04,151.39
4,30,771.02
29.39
70.61
100.00
6,721.62
22,457.50
29,179.12
23.04
76.96
100.00
4,449.04
24,416.73
28,865.78
15.41
84.59
100.00
Sd/(SANJAY SINGAL)
CHAIRMAN & MANAGING DIRECTOR
Sd/(R. P. GOYAL)
WHOLE TIME DIRECTOR
Sd/(ARUN K. AGRAWAL)
CHIEF FINANCIAL OFFICER
Sd/(AMARJEET SHARMA)
':'%76+8'&+4'%614
Sd/(R.K. GUPTA)
PRESIDENT &
COMPANY SECRETARY
61
NOTES
62