Annual Report for the year 2012

4) RESERVE AND SURPLUS
PARTICULARS
As at
st
31 March
2012
(AMOUNT IN `)
As at
st
31 March
2011
a)
b)
Capital Redemption Reserve
As per last balance sheet 50,000,000 50,000,000
Add: Transfer from Profit and Loss account on redemption of Non-
Cumulative Redeemable Preference Shares (Refer Note No.3
for details of redemption) 80,000,000 -
130,000,000 50,000,000
Securities Premium
As per last Balance sheet 382,292,449 382,292,449
c)
d)
e)
General Reserve
As per last balance sheet 141,715,149 139,215,149
Add: Transfer from Profit and Loss account - 2,500,000
Add: Transfer from Asset Impairment Reserve 30,000,000 -
171,715,149 141,715,149
Tonnage Tax Reserve
As per last balance sheet 123,046,945 107,146,945
Add: Transfer from Profit and Loss account 6,000,000 15,900,000
129,046,945 123,046,945
Tonnage Tax Utilisation Reserve
As per last balance sheet 103,453,055 103,453,055
f)
g)
Asset Impairment Reserve
As per last balance sheet 30,000,000 30,000,000
Less: Transfer to General Reserve * 30,000,000 -
- 30,000,000
Surplus/(deficit) in the statement of profit and loss
Balance as per last financial Statement 352,867,632 320,719,522
Profit(Loss) for the year 53,847,686 87,524,350
Amount available for appropriation 406,715,318 408,243,872
Less Appropriations
Transfer to General Reserves - 2,500,000
Transfer to Capital Redemption Reserve 80,000,000 -
Transfer to Tonnage Tax Reserve 6,000,000 15,900,000
Interim Dividend Paid on Equity Shares - 10,978,767
Tax on Interim Dividend on Equity Shares - 1,823,442
Dividend paid on Preference shares 7,516,940 7,600,000
Tax on Dividend Paid on Preference Shares 1,219,472 1,262,269
Proposed Dividend on Equity Shares 10,978,767 13,174,520
Tax on Proposed Dividend on Equity Shares 17,81,030 2,137,242
Total Appropriations 107,496,209 55,376,240
Net Surplus in the statement of profit and loss 299,219,109 352,867,632
Total reserves and surplus 1,215,726,707 1,183,315,230
* Company had created an Asset Impairment Reserve in the year 2004-05. As there were no impairment during the last seven
years, Company has decided to transfer the same to the General Reserve.
32 24th Annual Report 2011-12