2010-11 - Grasim
2010-11 - Grasim
2010-11 - Grasim
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UltraTec<br />
ech Cement Limited<br />
SCHEDULE 21 (Contd.)<br />
(v) The financial statements of the Company, its Subsidiaries and JV’s used in the<br />
consolidation are drawn upto the same reporting date i.e. March 31, 20<strong>11</strong>.<br />
(vi) Out of Nine Subsidiaries incorporated outside India whose financial statements have<br />
been included in the Consolidated financial Statements, financial statements of a<br />
subsidiary have been drawn up in accordance with the generally accepted accounting<br />
practices (GAAP) as applicable locally. Financial Statements of these Subsidiaries<br />
have been re-stated in Indian Rupees considering them as non-integral part of the<br />
Group’s operations and the resultant exchange gain/loss on conversion has been<br />
carried forward as Translation Reserve. In the opinion of the Management, based on<br />
the analysis of the significant transactions of a subsidiary whose financial statements<br />
have been drawn up in accordance with GAAP as applicabe locally, no material<br />
adjustments are required to be made to comply with group accounting policies/Indian<br />
GAAP.<br />
(b) The Consolidated Financial Statements (CFS) comprises the financial statements of<br />
UltraTech Cement Limited, its Subsidiaries and its interest in JV’s (Group) as at 31.03.20<strong>11</strong>,<br />
which are as under:<br />
Name of the Company Country of % Shareholding % Shareholding<br />
Incorporation and Voting and Voting<br />
Power. FY 20<strong>11</strong> Power. FY <strong>2010</strong><br />
(I)<br />
Subsidiary Companies:<br />
(a) Dakshin Cements Limited India 100% 100%<br />
(b) UltraTech Cement Lanka (Private) Limited. Sri Lanka 80% 80%<br />
(c) Harish Cement Limited India 100% -<br />
(d) UltraTech Cement Middle East<br />
Investments Limited (w.e.f. 03.03.<strong>2010</strong>) UAE 100% 100%<br />
(e) Star Cement Co. LLC,* UAE<br />
(w.e.f. 31.08.<strong>2010</strong>) UAE 80% -<br />
(f) Star Cement Co. LLC,* RAK<br />
Ras-Al-Khaimah UAE (w.e.f. 31.08.<strong>2010</strong>) UAE 80% -<br />
(g) Al Nakhla Crusher LLC,* Fujairah<br />
(w.e.f. 06.09.<strong>2010</strong>) UAE 80% -<br />
(h) Arabian Cement Industry LLC*,<br />
Abu Dhabi (w.e.f. 15.09.<strong>2010</strong>) UAE 80% -<br />
(i) Arabian Gulf Cement Co W.L.L*,<br />
Bahrain (w.e.f. 27.09.<strong>2010</strong>) Bahrain 80% -<br />
(j) Emirates Power Company Ltd*.,<br />
Bangladesh (w.e.f. 27.08.<strong>2010</strong>) Bangladesh 80% -<br />
(k) Emirates Cement Bangladesh Ltd*.,<br />
Bangladesh (w.e.f. 27.08.<strong>2010</strong>) Bangladesh 80% -<br />
(II) Joint Ventures:<br />
(a) Madanpur (North) Coal Company<br />
Private Limited (MNCCPL) India <strong>11</strong>.17% <strong>11</strong>.17%<br />
(b) Bhaskarpara Coal Co. Limited (BCCL) India 47.37% -<br />
* Subsidiaries of UltraTech Cement Middle East Investments Limited.<br />
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