Annual Report for 2011-2012 - Vizag Steel
Annual Report for 2011-2012 - Vizag Steel
Annual Report for 2011-2012 - Vizag Steel
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30 th <strong>Annual</strong> <strong>Report</strong> <strong>2011</strong>-12<br />
22.01 : Value of Indigenous and Imported Raw materials consumed<br />
Year ended 31 st March, <strong>2012</strong><br />
Particulars<br />
` Crs<br />
%<br />
Indigenous<br />
Imported<br />
3650.73<br />
4821.49<br />
43.09<br />
56.91<br />
Crs<br />
Year ended 31 st March, <strong>2011</strong><br />
` Crs %<br />
3442.34 47.89<br />
3746.02 52.11<br />
Total<br />
8472.22<br />
100.00<br />
7188.36<br />
100.00<br />
Note 23.00 : Changes in Inventories of Semi-Finished / Finished goods<br />
Opening stock<br />
Less: Closing stock<br />
Net Depletion / (Accretion)<br />
Particulars<br />
Note 24.00 : Employee Benefits<br />
Particulars<br />
Salaries and wages<br />
Company's contribution - provident fund & other funds<br />
Staff Welfare expenses<br />
Total<br />
24.01 : Expenditure on Employee benefits not included above and charged to:<br />
Particulars<br />
Salaries and wages<br />
Company's contribution - provident fund & other funds<br />
Staff Welfare expenses<br />
Total<br />
Year ended<br />
31 st March,<br />
<strong>2012</strong><br />
1825.33<br />
1779.96<br />
45.37<br />
Year ended<br />
31 st March,<br />
<strong>2012</strong><br />
1292.86<br />
73.23<br />
100.58<br />
1466.67<br />
Year ended<br />
31 st March,<br />
<strong>2012</strong><br />
37.21<br />
2.88<br />
5.75<br />
45.84<br />
Crs<br />
Year ended<br />
31 st March,<br />
<strong>2011</strong><br />
1293.01<br />
1825.33<br />
(532.32)<br />
Crs<br />
Year ended<br />
31 st March,<br />
<strong>2011</strong><br />
1081.32<br />
105.43<br />
86.25<br />
1273.00<br />
Crs<br />
Year ended<br />
31 st March,<br />
<strong>2011</strong><br />
31.47<br />
3.42<br />
4.77<br />
39.66<br />
24.02 : Details of Employee Benefits<br />
24.02.01: An amount of ` 6.04 Crs (Previous Year ` 6.18 Crs) recognised in the Statement of Profit and Loss and ` 0.21 Crs (Previous<br />
Year ` 0.21 Crs) in Capital Work in Progress, ` 0.03 (Previous Year ` 0.00 Crs) in Intangible Assets under Development<br />
towards Superannuation Benefit Scheme (Post Employment Benefit - Defined Contribution Plan).<br />
24.02.02: General Description of the Post Employment Benefits - Defined Benefit Plans:<br />
Provident Fund - Company pays fixed contribution to Provident Fund, at predetermined rates, to a<br />
separate trust, which invests the Funds in permitted securities. On Contributions,<br />
the trust is required to pay a minimum rate of interest, to the members, as specified<br />
by Govt. of India. The obligation of the Company is limited to the shortfall in the rate<br />
of interest on the Contribution based on its return on investments as compared to<br />
the declared rate.<br />
Gratuity - Payable to employees, who render continuous service of 5 years or more, on<br />
separation, at 15 days of last drawn pay <strong>for</strong> each completed year of service.<br />
Post Retirement Medical Benefits - Available to retired employees at Company's hospital and / or under the Health<br />
Insurance Policy.<br />
Retirement Settlement Benefits - The retired employees, their dependents, as also the dependents of the employees<br />
expired while in service are entitled <strong>for</strong> travel and transport expenses to their place<br />
of permanent residence. At the time of retirement, employees will be given 10 Gms.<br />
of gold.<br />
Employee Family Benefit Scheme - Monthly payments, till the notional date of superannuation, to employees separated<br />
upon disablement / legal heirs of deceased employees at their option who fulfill the<br />
criteria of prescribed amount of deposit.<br />
107
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