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7 Earnings per Share (Rupees in lakhs) Particulars Period ended 31-03-2011 Year ended 30-09-2009 Profit After Tax and Minority Interest 2,281.94 3,983.26 Less: Preference Dividend including tax there on 29.24 41.32 Profit attributable to equity share holders 2,252.70 3,941.94 Profit attributable to equity share holders- for Diluted EPS 2,252.70 3,965.79 Weighted average number of ordinary shares used in computing Basic Earnings per Share Add: Effect of potential ordinary (equity shares) on conversion of share warrants and restructuring of loans by SASF. Weighted average number of ordinary (equity shares) used in computing Diluted Earnings Per Share. Earnings per share - Face Value: Rs. 5/- each 171,639,557 67,793,510 6,992,102 14,211,585 178,631,659 82,005,095 Basic- Rs. 1.31 5.81 Diluted- Rs. 1.26 4.84 8 Deferred Tax Deferred Tax Liability (Net) as at March 31,2011 comprises of the following (Rupees in lakhs) Particulars A) Deferred Tax Liability: As at 31.03.2011 Movement during the period Adjustment (Ref Note below) As at 30.09.2009 Depreciation 6,577.47 1,251.52 68.27 5,394.23 Total Deferred Tax Liability 6,577.47 1,251.52 68.27 5,394.23 B) Deferred Tax Asset: Provision for Employee Benefits 83.06 27.57 — 55.49 Provision for doubtful debts / advances 309.27 27.55 — 281.72 Total Deferred Tax Asset 392.33 55.12 — 337.21 Deferred Tax Liability (Net)(A-B) 6,185.14 1,196.40 68.27 5,057.02 Note: Adjustment represents the difference in deferred tax liability between management accounts and audited accounts in one of the subsidiary company relating to earlier years. 9 Adjustment represents the difference in the net profit after tax between management accounts and audited accounts in respect of subsidiaries to the extent of Rs. 68.33 lakhs relating to previous years. Had this amount has been accounted as current period income the profit after tax would have been higher by Rs.68.33 lakhs and correspondingly Basic and Diluted EPS would have been Rs.1.35 and Rs.1.30 as against the Basic and Diluted EPS of Rs.1.31 and Rs.1.26. : : 111 : :
SUJANA METAL PRODUCTS LIMITED 10 Cumulative Redeemable Preference Shares Cumulative Redeemable Preference Shares consist of : 1,493,365 1% of Cumulative Redeemable Preference Shares of Rs. 100 each aggregating to Rs. 1493.37 lakhs is redeemable in 12 quarterly installments co-terminus with principal payment commencing from October 01, 2013 and ending on July 01, 2016. 11 Scheme of Amalgamation A Scheme of Amalgamation of M/s Lakshmi Gayatri Industries Private Limited, M/s Glade Steel Private Limited, M/s Sri Ganga Steel Enterprises Private Limited and M/s Topaz Steel India Limited with the Company with effective from 1 October, 2009 (being Appointed Date)has been approved by the shareholders and secured creditors of the Company in the extra ordinary general meeting held on 28 April 2011. The petition will be submitted by the Company with the Hon’ble High Court of Andhra Pradesh for the sanction of Scheme of Amalgamation under Section 391 and 394 of the Companies Act, 1956 in the month of June, 2011. In view of pending order of High Court of Andhra Pradesh, the scheme has not been given effect in the Audited Financials of the Company for the period ended 31 March 2011 (18 months period (i.e. from 1.10.2009 to 31.03.2011). Further the loans and advances of Rs.5,202.50 lakhs (30.09.2009: Rs.785.39 lakhs) outstanding and receivable from these amalgamating companies as on 31 March 2011 are considered good for recovery by the management. 12 Stressed Assets Stabilization Fund has communicated as follows: SASF vide their letter dated 02 December 2010 has confirmed a Negotiated Settlement (NS) for the balance term loan outstanding as on 31 December 2009 (being the cut-off date) in respect of the Company and other two companies viz. Handum Industries Limited under the slump sale agreement and Sri Ganga Steel Enterprises Limited under the scheme of amalgamation to the extent of Rs.7,706.00 lakhs, with the following terms and conditions: a) Rs.3,051.00 lakhs to be paid in cash of which an amount of Rs.600 lakhs was paid against the crystallized cash portion of the settlement amount and balance amount shall be payable in equal five installments the from date of issue of letter of approval (LOA). The first installment shall be payable within a period of one week from the date of issue of LOA, of which the Company has paid Rs.1,250 lakhs during the period. The Company vide letter dated 26.03.2011 requested SASF to give extension of time for repayment of balance amount in twelve monthly installments commences from 01.04.2011. b) Of the balance restructured term loan Rs.4,655 lakhs is to be converted into equity share of Company as per SEBI Guidelines and 9% p.a interest shall be payable till the date of conversion. Based on the NS, a consolidated interest waiver of Rs.1300 lakhs has been given by SASF. In view of pending amalgamation of Sri Ganga Steel Enterprises Limited and Handum Industries Limited under the slump sale agreement, the Company has not accounted the term loan liability relating to amalgamating Company (payable to SASF) and the interest wavier to the extent of Rs.1,300 lakhs in the books during the period. The balances outstanding as at March 31, 2011 has not been confirmed by SASF. c) Stressed Assets Stabilization Fund (SASF) vide their letter dated June 25, 2008 has informed the Company to covert 2,038,260 1% of Cumulative Redeemable Preference Shares of Rs. 100 each aggregating to Rs. 2,038.26 lakhs into equity of Rs.1,875 lakhs and term loans of Rs.163.26 lakhs, as part of its restructuring of dues payable to them. 13 Secured and Unsecured Loans a) Secured Loans i) Term Loans availed from banks and financial institution are secured by first charge on all the immovable and movable fixed assets of the Company both present and future, second charge on the current assets of the Company. : : 112 : :
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BOARD OF DIRECTORS CORPORATE INFORM
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NOTICE NOTICE is hereby given that
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opportunity to register their e-mai
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and/or Foreign Currency Convertible
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to do all such acts, deeds, matters
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proper or desirable and to settle a
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Board recommends the alteration of
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and Exchange Board of India (Issue
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Dear Members, DIRECTORS’ REPORT Y
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DCS/AMAL/NTP24(f)/983/2010-11 dated
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14. Directors’ Responsibility Sta
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Company, including Building, Plant
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31. Appreciations: The Board of Dir
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The Financial year of the Holding C
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FORM A (See Rule 2) A. PARTICULARS
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The growth in 2010 exceeded the pre
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Market Size Steel industry is of gr
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Statutory Auditors to ascertain the
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Persons constituting Group coming w
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5. Shri S. Hanumantha Rao Executive
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v v v v v v Changes, if any, in acc
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(iii) Remuneration Packages paid to
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(iv) No. of Shareholders Complaints
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(iii) Details of special resolution
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(iv) Management Discussion and Anal
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(iv) Market Price Data : The monthl
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(v) Share Transfer System Your Comp
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CEO & CFO CERTIFICATION We, R.K.Bir
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Annexure to the Auditor’s Report
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(x) In our opinion and according to
Page 62 and 63: PROFIT AND LOSS ACCOUNT FOR THE EIG
Page 64 and 65: SCHEDULES FORMING PART OF THE BALAN
Page 70 and 71: SCHEDULES FORMING PART OF THE PROFI
Page 72 and 73: SCHEDULES FORMING PART OF THE PROFI
Page 74 and 75: a price, significant risks and rewa
Page 76 and 77: SCHEDULE 23: NOTES 1 Contingent Lia
Page 78 and 79: I. List of Related Parties A Subsid
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Page 82 and 83: Information about primary business
Page 84 and 85: (b) Turnover A B Manufacturing Clas
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Page 88 and 89: a) Rs.3,051.00 lakhs to be paid in
Page 90 and 91: Consolidated Accounts for the Perio
Page 92 and 93: CONSOLIDATED BALANCE SHEET AS AT MA
Page 94 and 95: CONSOLIDATED CASH FLOW STATEMENT FO
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Page 104 and 105: SCHEDULE 22: SIGNIFICANT ACCOUNTING
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Page 108 and 109: 2 Contingent Liabilities not provid
Page 110 and 111: i) Discount Rate ii) The discount r
Page 114: ii) Short term loan availed from ba
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