notes to accounts standalone 31.03.11

8/4/2019 Notes to Accounts Standalone 31.03.11

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JINDAL POWER LIMITED

SCHEDULES FORMING PART OF BALANCE SHEET AND PROFIT & LOSSACCOUNT FOR THE PERIOD ENDED 31th MARCH 2011

SCHEDULE 17

SIGNIFICANT ACCOUNTING POLICIES & NOTES TO ACCOUNTS

A. SIGNIFICANT ACCOUNTING POLICIES

1. Basis of Accounting

The accounts of the Company are prepared under the historical costconvention and in accordance with applicable Accounting Standards exceptwhere otherwise stated. For recognition of income and expenditure,mercantile system of accounting is followed.

2. Revenue Recognition Policy

Revenue from sale or sale of power is accounted for on the basis of billing toconsumers. Generally, all consumers are billed on the basis of recording ofconsumption of energy by installed meters/Contracted quantum & terms withCustomers.

Income from Technical Services recognise on accrual basis as per agreement.

3. Fixed Assets

Fixed assets are stated at cost less accumulated depreciation. The cost of an

asset comprises its purchase price and any attributable cost of bringing theasset to working condition for its intended use i.e. cost of acquisition ofassets and incidental expenditure incurred up to the date of installation/ use.Certain Plant & Machineries have been considered as continuous plant on thebasis of the technical assessment of the management.

4. Expenditure During Construction Period

Expenditure incurred during construction/ erection period are carried forwardand allocated appropriately at the time of completion/installation of fixedassets.

5. Depreciation/Amortization & Impairment of Assets

Depreciation/AmortizationDepreciation on fixed assets is provided on Written Down Value method atthe rates specified in Schedule XIV to the Companies Act, 1956.

Assets costing upto Rs.5000/- are depreciated fully in the year of purchase/capitalization.

Leasehold Land is amortised over the period of lease.

Intangible assets are being amortised over the expected duration of benefits.


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Impairment

The carrying amount of the assets is reviewed at each Balance Sheet date.An impairment loss is recognised wherever the carrying amount of an assetexceeds its recoverable amount.

6. Investment

Long term investments are carried at cost, less provision for diminution otherthan temporary, if any, in the value of such investments. Current investmentsare carried at lower of cost or fair value.

7. Inventories

Inventories are valued at lower of cost or net realisable value except waste /scrap which is valued at net realisable value. The cost is computed onweighted average basis.

8. Foreign Exchange Transactions

a) Transactions in foreign currency are recorded at the rates prevailing onthe date of transaction. Outstanding foreign currency monetary assetsand liabilities are translated at the exchange rate prevailing at year-end. Exchange difference is charged to the Profit & Loss account.

b) Transactions covered by derivative contracts are adjusted withvariation, if any, and are recognised on restatement/ settlementwhereas gains are recognised only on settlement. Premium/ discountin respect of Derivative contract are recognised over the life ofcontract.

9. Employees Benefits

a)Contribution to Gratuity is made with Life Insurance Corporation of Indiaand provision for Gratuity & Leave Encashment benefits are accountedon the basis of actuarial valuation.

b)Short term employee benefits are recognized as an expense at theundiscounted amount in the profit and loss account of the year inwhich the related service is rendered.

c) Defined benefit Plan: The Provident Fund Contribution, in excess ofminimum statutory contribution and excluding some employees, ismade to Trust administered by the trustees. The interest rate to themembers of the trust shall not be lower than the statutory ratedeclared by the Central Government under Employees' Provident Fundand Miscellaneous Provision Act, 1952. Any shortfall, if any, shall bemade good by the Company.

d)Other than as referred to in para (C) above, the provident fund aredefined contribution plan and the contribution to the same areexpenses recognized in the Profit and Loss Account during the year inwhich services have been rendered and are measured at cost.

Post employment and other long term employee benefits are recognised asan expense in the profit and loss account for the year in which the employee


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has rendered services. The expense is recognised at the present value of theamounts payable determined using actuarial valuation techniques. Actuarialgains and losses in respect of post employment and other long term benefitsare charged to the profit and loss account.

10. Miscellaneous Expenditure

The following expenditure shown under miscellaneous expenditure isamortised as follows:

a) Preliminary expenses are written off in the year of start of production.

b)Mines Development Expenditure (Comprises of Initial expenditure forcoalmines and expenditure for removal of overburden) is charged tothe profit & loss in the year in which the same is incurred

c) Share Issue Expenses are adjusted against the securities premium

Account as permitted by section 78(2) of the Companies Act, 195611. Taxes on Income

Current tax is the amount of tax payable on the taxable income for thecurrent Period as per the provisions of Income tax Act, 1961. Credit in respectof Minimum Alternate Tax paid is recognized only if there is convincingevidence of realization of the same.

Deferred tax is recognized at rates in force/substantively enacted subject tothe consideration of prudence, on timing difference, being the differencebetween taxable incomes and accounting income that originate in one period

and are capable of reversal in one or more subsequent periods. Deferred taxassets on unabsorbed depreciation and carried forward losses are recognizedonly if there is virtual certainty that they will be reversed in subsequentyears. Deferred tax assets on other reversible differences are recognized onlyif there is reasonable certainty that they will be realized.

12. Borrowing Costs.

Interest and other costs in connection with the borrowing of the funds to theextent related/attributed to the acquisition / construction of qualifying fixedassets are capitalised up to the date when such assets are ready for itsintended use and on account of others are charged to the Profit & Lossaccount.

13. Contingent Liabilities.

Contingent liabilities are not provided for in the books of accounts and aredisclosed by way of notes.

B. NOTES TO ACCOUNTS


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1. (a) The Company has prepared these accounts for the period from 1stApril 2010 to 31st

March 2011 for the purpose of proposed initial Public offering (IPO).

(b) Figures for the corresponding previous periods i.e. from 1st April 2009 to

31st March 2010 in the Profit & Loss Account, Cash Flow Statement and Notesto Accounts are audited.

2. The company is in process of implementing 2400 MW Thermal Power Plant atRaigarh in the State of Chhattisgarh and 1320 MW Thermal Power Projectlocated at Dumka and 660 MW Thermal Power Project located at Godda inthe state of Jharkhand.

3. Capital work in progress includes, roads, building under construction /capitalmaterial at site, temporary construction, site development expenses, plant &machinery in transit /under erection/under trial run and capital advance

against project. As part of the project is under implementation, the expensesincurred in relation thereof have been shown under schedule 6 (Capital workin progress) as part of Expenditure during Construction Period (PendingAllocation /Capitalisation).

4. Contingent Liabilities not provided for in respect of (as certified by themanagement):

(Rs. in Crore)

ParticularsAs at

31.03.11As at

31.03.10I) Exemption from Electricity Duty Pending

for final Approval84.51 6.38

II) Development and Environment cess

III) Service TaxIV) Bank Guarantee

V) Letter of Credit

3.04

8.90

2.12

-

124.00

5.00

5. (a) Estimated amount of contracts remaining to be executed on Capital

Account and not provided for Rs. 5549.23 Crore (net of capital advance ofRs. 732.41 Crore) [Previous Year Rs. 5617.09 Crore (net of capital advance ofRs. 639.59 Crore)].

(b) Company has, for a project in Nepal, agreed to subscribe 48% equity sharecapital in joint venture Company namely Synergy Infrastructure Pvt. Ltd.amounting to Rs. 1.71 Crores (Nepali Rupees 2.72 Crores).

6. Loans & Advances includes amount of Rs. 240.00 Crore, Rs. 12.50 Crore andRs. 80.00 Crore given to Arunachal Government on behalf of M/s. Etalin HydroElectric Power Company Limited, Attunli Hydro Electric Power CompanyLimited and Subansiri Hydro Electric Power Company Limited respectively has

been treated as Advance Against Share Application Money as agreed withthe said JV Companies.


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7. Employees Benefits:(Rs. In Crore)

Gratuity(Funded)

LeaveEncashment(Unfunded)

I Expenses recognized duringthe Period

31.03.11

31.03.10

31.03.11

31.03.10

1.Current Service Cost 1.56 0.63 1.76 0.98(Including Risk Premium for fullyinsured benefits)

2.Interest Cost 0.23 0.10 0.36 0.193.Expected Return on plannedassets

(0.26) (0.11) 0.00 0.00

4.Past Service Cost 0.18 0.21 0.58 0.005.Actuarial (gain)/loss 0.58 0.19 1.96 1.366.Total Expense 2.29 1.02 4.66 2.53

II Net Asset/(Liability)recognized in the balance sheetas at year end

1. Present value of defined benefit

obligation

6.35 2.66 10.32 4.66

2. Fair Value of Plan asset. 5.22 1.93 0.00 0.003.Funded status [Surplus/(Deficit)]4.Unrecognised past service cost

(1.13)0.31

(0.73)0.42

(10.32)0.0

0

(4.66)0.00

5. Net Asset / (Liability). (0.82) (0.31) (10.32)

(4.66)

III Change in Obligation For thePeriod ended

1.Present Value of Defined BenefitObligation at the beginning of the

Year

2.66 1.27 4.67 2.34

2.Current Service Cost 1.56 0.63 1.76 0.983.Interest Cost 0.23 0.10 0.36 0.194.Plan Amendments ( Past servicecos5.Acquisition

0.081.28

0.630.00

0.581.82

0.000.00

6.Acturial (Gain) /Losses 0.58 0.08 1.96 1.367.Benefit Payments (0.04) (0.05) (0.83) (0.21)8.Present Value of defined Benefit

obligation at the end of Year

7.63 2.66 10.32 4.66

IV Change in Assets During the


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Period1.Fair Value of Plan assets atbeginning of the Year

1.93 0.56 0.00 0.00

2.Expected Return of Plan assets 0.26 0.11 0.00 0.003.Actual Company Contribution 1.79 1.42 0.82 0.214.Actual Benefit Paid

(0.04) (0.05) 0.00 (0.21)5.Acturial Gain /(Losses) (0.00) (0.11) 0.00 0.006.Fair Value of Plan assets at theend

5.22 1.93 (0.82) 0.00

V Investment DetailAll the investments are made withLife Insurance Corporation of IndiaLimited

100% 100%

VI Actuarial Assumption

1.Discount Rate 8.40%

8.40% 8.40% 8.40%

2.Expected Rate of Return on planassets

9.15% 9.15%N.A.

3.Salary escalation 12.00%

12.00%

12.00%

12.00%

4.Mortality LIC (1994-96) ultimate5.Turnover rate Age Up to 25-0.5%, up to 30-

0.3%, up to 35- 0.2%, up to 50-0.1% up to 55- 0.2%, up to 60-

0.3%

a) Defined Benefit Plan

The employees gratuity fund managed by life Insurance Corporation of Indiais a defined benefit plan. The present value of obligation is determined basedon actuarial valuation using the Projected Unit Credit Method, whichrecognizes each period of service as giving rise to addition unit of employeebenefit entitlement and measures each unit separately to build up the finalobligation. The obligation for leave encashment is recognized in the samemanner as gratuity.

b) Amount recognized as an expense: -

Gratuity-Rs.1.69 Crore (Previous Period Rs.1.02 Crore), Leave EncashmentRs.3.05 Crore (Previous Period Rs.2.53 Crore), PF Funded Rs.1.32 Crore (PreviousPeriod Rs. 0.74 Crore)Pending the issuances of the Guidance note from the Acturial Society of India,the companys actuary has expressed his inability to reliably measure theprovident fund liability.

c) Defined Contribution plans

The company has recognized an expense of Rs.1.50 Crore (Previous PeriodRs. 0.93 Crore) towards defined contribution plan.


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d) The expected return on plan assets is determined considering severalapplicable factors mainly composition of the plan asset held, assessed risks ofasset management, historical results of return on plan assets.

e) The estimate of future salary increase considered in actuarial valuation, takeaccount of inflation, seniority, promotion and other relevant factors, such as

supply and demand in the employment market. The above information iscertified by the actuary.

8. Deferred Tax Assets / LiabilitiesThe Company operates in power sector which is eligible for 100% deductionunder Section 80 IA of the Income Tax Act 1961 of the profits and gainsderived from the business for ten consecutive years in the fifteen years block.In accordance with Accounting Standard Interpretation (ASI)-3 Issued by theInstitute of Chartered Accountant of India, the deferred tax in respect oftiming difference which is reversible during the tax holiday period have notbeen recognized based on the management assessment on future taxable

income. Deferred tax liability recognized for the Period is Rs. 0.88 Crore(Previous Year Rs. 13.21 Crore) on timing difference arising on depreciation.

9. Provision for Income Tax represents Minimum Alternate Tax computed u/s115JB of the Income Tax Act, 1961. Tax calculation has been madeconsidering certain allowances/adjustments available, as assessed by themanagement.

10. As required by section 22 of The Micro, Small and MediumEnterprises Development Act, 2006 the following information isdisclosed:

(Rs. in Crore)S.No Particular 31.03.

1131.03.10

a) i) Principal amount remaining unpaid at the end ofthe accounting Period 0.15 0.16ii) Interest due on above - -

b) The amount of interest paid by the buyer along withamount of payment made to the suppliers beyondthe appointed date

- -

c) The amount of interest accrued and remaining

unpaid at the end of financial year

- -

d) The amount of interest due and payable for theperiod of delay in making payment (which have beenpaid but beyond the due date during the year) butwithout adding interest specified under this Act

- -

e) The amount of further interest due and payable insucceeding year, until such interest is actually paid.

- -

11. Software (other than specified software) under Intangible Assets isdepreciated fully in the year of purchase.

12. Loans and advances includes dues from following


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(Rs. inCrore)

Name Nature For thePeriod ended

31.03.11

For the Yearended

31.03.10Jindal Steel & Power

Limited- HoldingCompany

Inter Corporate

Deposits 1256.56(1298.56) 1198.56(1229.77)

Subansiri Hydro ElectricPower CompanyLimited- Subsidiarycompany

Loans andadvances

1.44 (1.44) 0.30 ( 0.30)

Etalin Hydro ElectricPower CompanyLimited- Subsidiarycompany

Loans andadvances

2.78 (2.78) Nil (Nil)

Attunli Hydro Electric

Power CompanyLimited- Subsidiarycompany

Loans and

advances 0.37 (0.37) Nil (Nil)

Advances to Director Advances 0.13 (0.31) 0.22 (0.39)

*Figure in Bracket Shows Maximum Balance outstanding during the Period

13. (a) Balances with Scheduled Banks in fixed deposit account include fixeddeposit of Rs. 50, 000/- (Previous Year Rs.50, 000/-) pledged with

Government Authorities.

(b) Maximum outstanding balance of commercial paper during the period isRs. 400 Crores (P.Y. Rs. 120.00 Crore)

14. Expenses debited to the other heads of accounts:(Rs. In Crore)

Particulars For the Periodended

31.03.11

For the Periodended

31.03.10

Job Work Charges 40.18 55.49

Stores & Spares Consumed 11.03 15.90

Coal Handling Expenses. 1.81 2.17

Power & Fuel Expenses 32.91 35.65

Operation & Maintenance CoalMines

6.22 14.52

Salary, wages, bonus and otherbenefits

5.10 3.39

Contribution to Provident Fund 0.22 0.16

Other Expenses 4.17 4.46

Depreciation 26.17 46.06

Freight & Transportation - 1.15


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Royalty 33.61 41.46

Rates & Taxes 3.37 3.22

Excise Duty on Coal 4.29 5.25

Repair and Maintenance others - 41.60

Clean Energy Cess on Coal 13.49 -

15. In the opinion of the Board, Current Assets, loan & Advances have a value onrealization/ recoverable in the ordinary course of business at least equal tothe amount at which they are stated and provisions for all known liabilitieshave been made.

16. The Company has only one business segment i.e. Power Generation, Saleand related Technical services. The company has one geographicalreportable segment i.e. operations within India, hence segment reporting asdefined in Accounting Standard (AS-17) is not given.

17. Foreign exchange gain is net of losses Rs. 2.94 crore (Previous year Nil) inrespect of derivative instruments.

18. During the Period the company has purchased and sold the followinginvestments:

Purchases Sales

Fund description Units

Value( Rs. InCrores) Units

Value( Rs. InCrores)

LIC Liquid Fund Growth411,364,73

0 702.06411,364,73

0 702.58

LIC Liquid Plus Fund Growth

26,65,22,62

5 332.08

266522624.

7 332.60

Reliance Liquid Fund Growth140,995,48

7.38 199.03140,995,48

7.38 199.28

Reliance Liquid Plus Fund Growth 696,529.88 88.05 696,529.89 88.27

Prudential ICICI Liquid Fund Growth

6,052,782.95 83.00

6,052,782.95 83.02

Prudential ICICI Liquid Plus Fund Growth

2,595,028.59 45.01

2,595,028.59 45.04

Birla Sunlife Liquid Fund Growth157,813,13

1.21 235.04157,813,13

1.21 235.09

Birla Sunlife Liquid Plus Fund Growth

76,139,468.10 135.02

76,139,468.10 135.25


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Canara Robeco Liquid Fund70,572,222.

26 80.0070,572,222.

26 80.08

Canara Robeco Liquid Plus Fund35,626,148.

50 50.0135,626,148.

50 50.03

JM financials Liquid Fund

267,941,61

3.47 395.34

267,941,61

3.47 395.75

JM financials Liquid Plus67,129,227.

12 90.0367,129,227.

12 90.34

JP Morgan Liquid Fund106,666,48

8.07 130.00106,666,48

8.07 130.23

JP Morgan Liquid Fund Plus46,575,054.

06 57.0846,575,054.

06 57.20

Kotak Liquid - Instt. Premuim Growth

53,573,106.78 101.00

53,573,106.78 101.14

SBI Liquid Fund Growth45,789,099.

07 95.0045,789,099.

07 95.01

SBI Liquid Plus-Growth78012566.4

2 95.0178012566.4

1 95.30

UTI MF Liquid Fund Growth1,242,723.3

8 192.571,242,723.3

8 192.78

UTI MF Liquid Plus 390,814.74 90.01 390,814.74 90.17

Axis Mutual Fund Liquid 432681.055 45.97 432681.055 46.00

Franklin Templeton 750877.902 106.00 750877.902 106.28

Tata Mutual liquid 321002.171 56.50 321002.171 56.71

19. Related Party Disclosure as required by Accounting Standard - 18 prescribedunder Companies (Accounting Standards) Rules, 2006 -(As identified &certified by Management)

A. List of Related Parties & Relationships:

a) Holding CompanyJindal Steel & Power Limited (JSPL)

b) Key Management Personnel

- Dr. Rajendra Prasad Singh - Executive ViceChairman

- Sh. Sushil Kumar Maroo - Deputy ManagingDirector

- Sh. K.K.Sinha - Whole TimeDirector

(Resigned on15.09.2010)

- Sh. R. S. Sharma - Managing

Director


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(With Effectfrom 25.10.2010)

- Sh. Pradip Kumar Chakraborty - Whole TimeDirector

c) Subsidiary Companies

1. Jindal Power Transmission Limited2. Jindal Hydro Power Limited3. Jindal Power Distribution Limited4. Jindal Power Trading Company limited (formerly known as

Chattisgarh Energy Trading Company Ltd.)5. Attunli Hydro Electric power Company Limited6. Etalin Hydro Electric Power Company Limited7. Subansiri Hydro Electric Power Company Limited

B) Transactions with Related Parties(Rs. in Crore)

SlNo.

Nature ofTransactions

HoldingCompany

KeyManagement

Personnel

Subsidiaries

Particulars

CurrentPeriod

PreviousPeriod

CurrentPeriod

PreviousPeriod

CurrentPeriod

PreviousPeriod

1.Sale of Power 177.8

8197.85 Nil Nil Nil Nil

2.Sale- Scrap

Nil 0.01 Nil Nil Nil Nil

3.Rendering of

Technical Services26.34 12.91 Nil Nil Nil Nil

4.Purchases-CapitalGoods & othergoods

70.89 11.13 Nil Nil Nil Nil

5.Sales- CapitalGoods & othergoods


6 Service charges

paid8.16 8.07

Nil Nil0.02 0.06

7Loans & advancesGiven for CapitalPurchases/Services & others

Nil Nil 0.13 0.10 NIL Nil

8.

Advance againstshare applicationmoney/ SharesPurchased

Nil 6.03 Nil Nil 8.74 416.22*

9Reimbursement ofexpenses incurredon our behalf

21.83 5.50 Nil NilNIL

NIL

10. Expenses Incurredon Their behalf

Nil Nil Nil Nil 4.59 0.02


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11.Recovery of expenses incurred

5.17 0.54 Nil Nil Nil 2.25

12Inter Corporatedeposit given

420.00


13.Inter Corporatedeposit refunded

362.00


14. Interest Income 68.34 61.37 Nil Nil Nil Nil

15Remuneration

Nil Nil

SeeNoteNo.

21(a)

SeeNote No.

21(a)Nil Nil

16.Payment made forcapital purchase/services


Outstanding Balance As on 31.03.2011(Previous year ended31.03.2010)

17. Creditors 40.59 0.36 Nil Nil Nil Nil

18. Debtors 89.65 48.59 Nil Nil Nil Nil

19.Loan & advancesReceivable

Nil Nil 0.13 0.22 4.59 0.30

20.Inter CorporateDeposit

1256.56

1198.56

Nil Nil Nil Nil

21.Advance againstShare ApplicationMoney *

Nil Nil Nil Nil 347.74

339.00

*Details of Advance against share application moneySlNo.

Name of Subsidiaries For the Period

ended31.03.11

For the Period

ended31.03.10

A Transactions

Attunli Hydro Electric Power Company Limited 1.22 14.74Etalin Hydro Electric Power Company Limited 6.37 245.74

Jindal Petroleum Limited - 75.00Subansiri Hydro Electric Power Company Limited 1.15 80.74

B Outstanding Balance As on 31.03.2011(PY. 31.03.2010)

Attunli Hydro Electric Power Company Limited 15.22 14.00Etalin Hydro Electric Power Company Limited 251.37 245.00

Subansiri Hydro Electric Power Company Limited 81.15 80.00

20. Auditors Remuneration (including Service Tax / Cess):(Rs. in Crore)

ParticularsFor the Period

ended31.03.11

For the Periodended

31.03.10

Audit Fees 0.08 0.08

Tax Audit Fees 0.01 0.01

Certification & Other services 0.01 0.45

Total 0.1

21.

a) Managerial Remuneration includes the following, paid to Whole time andManaging Director:

(Rs. inCrore)


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* include ESOP of the Holding Company, Valuation as per Income Tax Rules.

b) Computation of net profit in accordance with Section 349 of the CompaniesAct, 1956 for the purpose of Managerial Remuneration:

(Rs.in Crore)

Particulars For the Period

ended31.03.11

For the Period

ended31.03.10

Profit before Taxation andAdjustments

1882.24 3809.68

Add:- Managerial Remuneration 6.59 5.93- Misc. Expenses Written Off - -- Loss on Sale of Fixed Assets 0.02 0.01Less:- Profit on Sale of Current

Investments4.33 10.03

- Profit on Sale of Fixed Assets - 3.93Net Profit for the Year 1884.52 2801.661% of the Net Profit 18.85 28.02Performance bonus restricted toRs. 1.00 Cr10% of the Net Profit 188.45 217.49

22. Expenditure In Foreign Currency:

(Rs. in Crore)

Particulars For the Periodended

31.03.11

For the Periodended

31.03.10Salary, Incentives & Allowances 4.42 5.25Contribution to Provident Fund 0.13 0.16

Gratuity & Leave Encashment 0.14 0.22Other Perquisites * 1.78* 0.65Reimbursement of Expenses 0.13 0.15Total 6.59 6.43


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ParticularsFor the Period

ended31.03.11

For the Periodended

31.03.10Travelling Expenses 0.18 0.42Stores and Spares 0.24 0.31Professional Services - 1.35Membership & Subscription - 0.07

Total 0.42 2.15

23. Quantitative Information:

Generation and Supply of Electricity (as certified by the management):(In millions unitsKWH)

Particulars

For thePeriodended

31.03.11

For the Periodended

31.03.10

Generation of Energy 6418.75 6368.41

Internal/Captive consumption 660.56 642.76

Sale of Energy 5758.19 5725.65

24. Consumption of Stores & Spares:

Value of Components, Stores and parts consumed (including stores

consumption included in Repair and maintenance Plant & Machinery)(Rs. in

Crore)For the Period ended

31.03.11For the Period ended

31.03.10Particulars Amount % Amount %

Indigenous 18.48 98.72 28.74 98.66Imported 0.24 1.28 0.39 1.34

25. Earning per share (EPS):

(Rs.in Crore)

Particulars

For thePeriodended

31.03.11

For thePeriodended

31.03.10Profit attributable to equity share holders 1506.06 2318.76

Weighted number of equity shares134,88,00,00

0133,84,43,

836Basic/ Diluted EPS (Rs.) (Not Annualised) 11.17 17.32


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26. C.I.F Value of Imports: (Rs. in

Crore)

Particulars

For thePeriod

ended31.03.11

For thePeriod

ended31.03.10

Capital goods - -

Other Goods 0.30 0.31

Total 0.30 0.31

27. Previous year / period figures have been regrouped/ rearranged whereverconsidered necessary.

Signature to Schedules 1 to 17

As per our report of even date

For Lodha & Co.Chartered Accountants

N.K.LodhaPartnerM.N. 85155Place: New DelhiDate:

For & on behalf of board

Dr. R.P.Singh R.S.Sharma Sushil K. Maroo

Ex. Vice chairman Managing Director Dy. Managing Director &Group CFO

Ashutosh Agarwala Dhiraj Kr. Maggo

Director Finance & CFO Dy. Company Secretary

notes to accounts standalone 31.03.11

Documents