Annual Report - 2005-06 - GAIL (India)

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4. SOURCES AND USES OF FUNDS Funds amounting to Rs.2908.97 Crores were generated from internal and external sources and utilised during the year 2005-2006 as follows : 6. SUNDRY DEBTORS (i) The percentage of Sundry Debtors to Sales during the last three years is given below : Sources of Funds Funds from operations Profit after Tax 2310.07 Add:Loss on Sale of Fixed Assets(net) 2.14 2312.21 Add : Depreciation/write off 549.76 Add : Deferred Tax liability provided for 44.47 2906.44 Less : Capital Reserve write off 0.11 Less : Foreign Currency Translation Reserve (1.47) (Rs. in Crores) 2005-06 2907.80 (Rs. in Crores) As on Considered Considered Total Sales Percentage of Sundry 31st March Good Doubtful Debtors Debtors to Sales 2004 720.69 125.25 845.94 11295.67 7.49 2005 822.86 120.25 943.11 12927.07 7.30 2006 753.47 120.29 873.76 14875.49 5.87 The Sundry Debtors represents 0.70 months sales in 2005-2006 as compared to 0.88 months sales in 2004-2005 and 0.90 months sales in 2003-04. (ii) Period - wise Sundry Debtors as on 31.3.2006 are given below : Debts Outstanding (Rs. in Crores) Govt. Depts. Govt. Companies Private Parties Total (I) Upto one year 6.68 333.78 321.64 662.10 Sale of Fixed Assets 1.17 Total 2908.97 Utilisation of Funds Increase in Fixed Assets 263.15 Add : Increase in Capital Work-in-Progress 306.51 569.66 Decrease in Borrowed funds 80.84 Increase in Investments 659.40 Increase in Working Capital 441.97 Dividend Paid incl. Dividend Tax 1157.10 Total 2908.97 (ii) More than 1 year but less than 2 years 0.00 12.80 0.31 13.11 (iii) 2 Years or more but less than 3 years 0.00 13.20 0.26 13.46 (iv) 3 years or more 0.00 64.95 120.14 185.09 a) The dues from Government, Government Companies and Private parties constitute 0.76%, 48.61% and 50.63% of the total Sundry Debtors respectively. b) The dues outstanding for more than 3 years increased from 16.35% during 2004-05 to 21.18% of the total Sundry Debtors in the year 2005-06. Place: New Delhi Dated: 20.06.2006 (A. K. SINGH) PRINCIPAL DIRECTOR OF COMMERCIAL AUDIT & EX-OFFICIO MEMBER, AUDIT BOARD-II 5. INVENTORY LEVELS The inventory levels at the end of the last three years are given below : (Rs. in Crores) 2003-04 2004-05 2005-06 Stores and Spares 343.46 376.85 353.67 Stock of Gas/LPG/Polymers & other Products 131.45 104.59 129.52 134 Winning Momentum 135
Annual Report for the year ended 31st March, 2006 “Winning performance globally” We, the undersigned directors, on behalf of all the directors of the Company, submit the annual report to the members together with audited accounts of the Company for the year ended 31st March, 2006. Directorate The directors in office at the date of this report are as follows: Upendra Dutta Choubey Kirpa Ram Vij Rajeev Khanna Arrangements for Directors to Acquire Shares or Debentures At no time during the financial year was the Company a party to any arrangements to enable the directors to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other body corporate. Directors’ Interests in Shares or Debentures According to the register kept by the Company for the purposes of Section 164 of the Companies Act, Cap. 50, particulars of interests of directors who held office at the end of the financial year in shares or debentures in the Company and in related corporations are as follows:- Holdings in the name of the director or nominee Other holdings in which the director is deemed to have an interest At beginning At end At beginning At end of the year of the year of the year of the year Ordinary Shares of Rs 10/- each fully paid Holding Company GAIL (India) Limited Upendra Dutta Choubey - - - - Rajeev Khanna 270 270 - - GAIL Global (Singapore) Pte. Ltd. Except as disclosed in this report, no director who held office at the end of the financial year had interests in shares or debentures of the Company or of related corporations either at the beginning of the financial year or at the end of the financial year. DIRECTORS’ REPORT 136 Winning Momentum 137
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CONTENTS Chairman’s Message 4 Hig
Page 5 and 6:
“ Winning takes talent but it tak
Page 7 and 8:
“A Winning Combination” Shri S.
Page 9 and 10:
Statutory Auditors M/s S. Mann & Co
Page 11 and 12:
LPG MARKETING PIPELINE INTEGRITY MA
Page 13 and 14:
GREEN GAS LIMITED (GGL): MAHANAGAR
Page 15 and 16:
SAFE PERFORMANCE OF THE COMPANY Dur
Page 17 and 18:
• GREENTECH Safety Gold Award for
Page 19 and 20: ANNEXURE TO THE DIRECTORS’ REPORT
Page 21 and 22: HDPE Production (MT) 111305 109158
Page 23 and 24: INDIAN GAS SECTOR - PERSPECTIVE OF
Page 25 and 26: Polyethylene market in India is dom
Page 27 and 28: GAIL has borne a subsidy of Rs.428
Page 29 and 30: LPG TRANSMISSION Your Company owns
Page 31 and 32: The other income represents a very
Page 33 and 34: SUNDRY DEBTORS The debtors (net of
Page 35 and 36: ii. Attendance of each Director at
Page 37 and 38: The payment made to Whole-time Dire
Page 39 and 40: GAIL Stock place at BSE (Rs./Share)
Page 41 and 42: Economic Approach Model The Economi
Page 43 and 44: Five Year Profile (B) GAS THROUGHPU
Page 45 and 46: (b) As per the information given to
Page 47 and 48: Profit & Loss Account for the Year
Page 49 and 50: Schedule 3 - Loan Funds (Rs.in Cror
Page 51 and 52: Schedule 5 - Capital Work-in-Progre
Page 53 and 54: Schedule 7 - Current Assets, Loans
Page 55 and 56: Schedule 10 - Manufacturing, Transm
Page 57 and 58: Cash Flow Statement for the Financi
Page 59 and 60: 20. Contingent Liabilities and Capi
Page 61 and 62: and the Income and the expenditure
Page 63 and 64: Sl. Segments Natural LPG No. Gas 1.
Page 65 and 66: Disclosure as required by Clause 32
Page 67 and 68: Schedule of Fixed Assets (Township)
Page 69: Review of the Accounts of GAIL (Ind
Page 73 and 74: Nexia Tan & Sitoh Certified Public
Page 75 and 76: Cash Flow Statement for the year en
Page 77 and 78: Quoted shares as at 31st March, 200
Page 79 and 80: Holding Company GAIL (India) Limite
Page 81 and 82: Auditor’s Report To The Board Of
Page 83 and 84: Schedule 1 - Share Capital Schedule
Page 85 and 86: Schedule 5 - Capital Work-in-Progre
Page 87 and 88: Schedule 7 - Current Assets, Loans
Page 89 and 90: (Rs.in Crores) Year Ended Year Ende
Page 91 and 92: III. Investment other than in Subsi
Page 93 and 94: ) During the year, the Company has
Page 95 and 96: Information About Business Segments
Page 97 and 98: Share of GAIL in assets, liabilitie
Page 99: Gas Industry specific terminologies
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Annual Report - 2005-06 - GAIL (India)

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