Download the Annual Report for 2010-11. - kiocl limited

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Current year Previous YearABSTRACT(A) Net cash from operating activities 367,346` in Thousands1,337,167(B) Net cash from investing activities 195,375 673,246(C) Net cash used in financing activities (59,261) (74,235)Net increase in cash and cash equivalents 503,460 1,936,178Net increase in cash + cash equivalents:Cash and Cash equivalents 13,934,839 11,998,661As at 01-04-2010 (O.B)Cash and Cash equivalents 14,438,299 13,934,839As at 31-03-2011 (C.B)Net increase in Cash+ cash equivalents 503,460 1,936,178Notes :1 The above statement has been prepared using indirect method except in case of interest incomefrom investment, Dividend, purchase and sale of investment / Fixed assets and taxes, which have beenconsidered on the basis of actual movement of cash, with corresponding adjustments in assets andLiabilities.2 Additions to fixed assets and capital work-in-progress between the beginning and end of the periodare treated as investing activities.3 Figures in brackets indicate cash outflows.For and on behalf of Board of DirectorsS.K. Padhi T.M.G.K Bhat K. RanganathCompany Secretary Director (Finance) Chairman-cum-Managing DirectorPlace : BangaloreDate : 6th May, 2011AUDITORS' REPORTWe have examined the Cash flow statement of KIOCL LIMITED, for the year ended 31st March2011. The statement has been prepared by the Company in accordance with the requirementsof clause 32 of the listing agreement with the stock exchange and is based on and in agreementwith the corresponding Profit & Loss account and Balance sheet of the Company covered by ourreport dated 9th May, 2011 to the Members of the Company.for M/s ASA & AssociatesChartered AccountantsFirm Registration No. 009571NP. NitishPlace : BangalorePartnerDate: 9th, May, 2011 Membership No : 024736114
SEGMENT REPORTING FOR THE YEAR ENDED 31ST MARCH 2011Particulars Pellets Pig Iron Elimination ConsolidatedTotalCurrent Previous Current Previous Current Previousyear Year year Year year YearREVENUE:` in LakhsExternal Sales (Gross) 1,74,931.14 79,226.23 5,415.21 20,045.90 - 1,80,346.36 99,272.13Less : Excise Duty & Freight onConsignment Sales 12,162.57 5,197.92 527.99 2,025.77 - 12,690.56 7,223.69Net Sales 1,62,768.57 74,028.31 4,887.22 18,020.13 - 1,67,655.79 92,048.44Inter-Segment Sales - - - - - - -Total Revenue 1,62,768.57 74,028.31 4,887.22 18,020.13 - 1,67,655.79 92,048.44RESULT:Segment result (Operating profit) 9,512.20 (3,942.84) (3,687.69) (14,674.46) - 5,824.51 (18,617.30)Extra Ordinary Items 1,924.98 (3,030.68) - 1,105.70Profit after Extraordinary Items 9,512.20 (2,017.86) (3,687.69) (17,705.14) - 5,824.51 (19,723.00)Unallocated Income less expensesInterest Income - - - - - 9,528.98 7,312.18Expenses on Discontinued Mining - - - - - (5,358.38) (7,084.20)Profit before tax 9,995.10 (19,495.02)Less : Income Tax - - - - - 2,363.05 -Deferred Tax - - - - - 52.78 (1,349.28)Prior period Tax - - - - - (47.95) (419.02)Net Profit After Tax 7,627.22 (17,726.72)OTHER INFORMATION:Segment Assets 45,502.14 31,692.23 21,755.82 28,437.89 - 67,257.96 60,130.12Unallocated Assets 1,65,433.93 1,57,298.57Total Assets 2,32,691.89 2,17,428.69Segment Liabilities 21,674.24 11,158.36 2,453.90 2,913.42 - 24,128.14 14,071.78Unallocated Liabilities 6,641.09 9,282.70Total liabilities 32,840.21 23,354.48Capital Expenditure 1,159.82 70.71 461.56 19.84 - 1,621.38 90.55Unallocated Capital Expenditure - - - - - 6.75Depreciation 1,433.66 1,443.38 1,584.10 1,590.64 - 3,017.76 3,034.02Depreciation on unallocated Assets 47.20 46.72Non-cash expenses other thanDepreciation 6,453.10 236.61 536.52 5,037.77 - 6,989.62 5,274.38Unallocated non cash expenses 1,100.04 170.30Note: Unallocable Assets, Liabilities, Depreciation and Non-cash expenditure include expenditure, Assets and Liabilitiesof Kudremukh Mines, the operation of which was discontinued w.e.f 31-12-2005.K. Ranganath T.M.G.K BhatChairman-cum-Managing DirectorDirector (Finance)As per our report of even datefor M/s ASA & AssociatesChartered AccountantsP. NitishPlace : BangaloreS.K. PadhiPartnerDate : 6th May, 2011 Company SecretaryMembership No. 0247369th May, 2011115
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ContentsBoard of Directors 3Notice
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EXPLANATORY STATEMENT PURSUANT TO S
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Form of ProxyKIOCL LIMITEDRegd. Fol
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Production for Asia was 897.9 milli
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PROJECTS UNDER CONSTRUCTION :In my
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18Captive Iron Ore Mine:The Company
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Directors’ ReportDear Shareholder
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4.3 The following table summarises
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efforts to cool down the overheatin
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Plant at Mangalore, KIOCL has to ge
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Consultant recommended that KIOCL c
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mortar manufacture. This can also b
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Other Mining /Prospecting Leases9.4
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either from the recognised Union or
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Visit of Third Sub-Committee of Par
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Former Secretary (Steel) Shri Atul
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Groups on rolls of the Company as o
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23.4 Your Company has also nominate
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25.3 Inspections: 7 CTE type inspec
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27. BOARD OF DIRECTORSAppointmenti)
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energy audit to quantify the target
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Annexure-IICORPORATE GOVERNANCECOMP
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is not practical to send the releva
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Corporate Governance (Contd.)c) To
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Corporate Governance (Contd.)Detail
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Corporate Governance (Contd.)(iii)
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Corporate Governance (Contd.)(xii)
Page 65 and 66: Corporate Governance (Contd.)(xx) R
Page 67 and 68: WeaknessCorporate Governance (Contd
Page 69 and 70: Corporate Governance (Contd.)local
Page 71 and 72: KIOCL Limited(Formerly Kudremukh Ir
Page 73 and 74: Annexure-IIIASA & ASSOCIATESCharter
Page 75 and 76: C. a. Confirmations of Balances hav
Page 77 and 78: Auditors' Report (Contd.)5. a. In o
Page 79 and 80: Auditors'ReportPara No.COMMENTS/OBS
Page 81 and 82: COMMENTS OF THE COMPTROLLER AND AUD
Page 83 and 84: 3.2 Depreciation in respect of Asse
Page 85 and 86: 7.2 Provision for Leave Encashment
Page 87 and 88: Profit and Loss Account for the yea
Page 89 and 90: Schedule 3FIXED ASSETSG R O S S B L
Page 91 and 92: Schedules (Contd.)Schedule 6CURRENT
Page 93 and 94: Schedules (Contd.)Schedule 7CURRENT
Page 95 and 96: Schedule 10ACCRETION/(-)DEPLETION T
Page 97 and 98: Schedules (Contd.)Schedule 14PRIOR
Page 99 and 100: Schedules (Contd.)Schedule 16NOTES
Page 101 and 102: 5. In pursuance of the directive of
Page 103 and 104: y the Govt of India and is binding
Page 105 and 106: Schedules (Contd.)Year ended Year e
Page 107 and 108: Details of measurement of present v
Page 109 and 110: TYPE OF PLANLONG TERM COMPENSATEDAB
Page 111 and 112: TYPE OF PLANLONG TERM COMPENSATEDAB
Page 113 and 114: Balance Sheet Abstract and Company'
Page 115: Cash Flow Statement for the year en
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