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

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Sources of FundsBalance Sheet as at 31st March 2011Schedule As at As atNo. 31-03-2011 31-03-2010` in LakhsShareholders’ FundShare Capital 1 63,451.38 63,451.38Reserves and Surplus 2 1,36,400.31 1,30,622.83TOTAL 1,99,851.69 1,94,074.21Application of FundsFixed Assets 3Gross Block 1,53,810.40 1,50,312.43Less: Depreciation 1,22,332.22 1,18,087.75Net Block 31,478.18 32,224.68Capital Work-in-Progress 4 6,102.87 1,908.58Deferred Tax Assets 5 1,451.28 1,504.05Current Assets, Loans and Advances 6Inventories 23,585.32 22,485.03Sundry Debtors 7,923.66 3,660.54Cash and Bank Balances 1,44,382.99 1,39,348.39Loans and Advances 17,767.60 15,014.101,93,659.57 1,80,508.06Less: Current Liabilities and Provisions 7Current Liabilities 16,485.05 14,518.30Provisions 16,355.16 8,836.1832,840.21 23,354.48Net Current Assets 1,60,819.36 1,57,153.58Miscellaneous Expenditure 8 - 1,283.32(to the extent not written off or adjusted)TOTAL 1,99,851.69 1,94,074.2184Significant Accounting Policies and Schedules 1 to 16 form part of Accounts.K. Ranganath T.M.G.K BhatChairman-cum-Managing DirectorDirector (Finance)S.K. PadhiAs per our report of even datefor M/s ASA & AssociatesChartered AccountantsP. NitishPlace : BangalorePartnerDate : 6th May, 2011 Company SecretaryMembership No. 0247369th May 2011
Profit and Loss Account for the year ended 31st March 2011Schedule Year ended Year endedNo. 31-03-2011 31-03-2010` in LakhsINCOMEGross Sales - Pellets 174,931.14 79,226.23- Pig Iron 5,415.21 20,045.90180,346.35 99,272.13Less : Excise Duty 12,659.80 6,767.23: Freight on Consignment Sales 30.76 456.46Net Sales 167,655.79 92,048.44Other Income 9 11,778.63 10,337.86Stock Accretion/(Depletion) 10 (949.64) (11,127.40)Total: 'A' 178,484.78 91,258.90EXPENDITUREConsumption of Raw Materials 106,052.63 63,975.98Consumption of Stores and Spares 2,901.49 3,393.76Consumption of Consumables & Additives 4,766.00 4,652.27Employees Remuneration and Benefits 11 12,765.03 12,410.91Power and Fuel 18,399.70 10,997.65Other expenses 12 6,937.94 6,347.11Port charges, Sampling Survey and Cess 10,397.59 2,944.26Demurrage on Exports 3.64 1.21Depreciation 3 3,064.95 3,080.74Amortisation of Intangible Asset 3 641.66 1,868.31Interest - -Total: 'B' 165,930.63 109,672.20Profit before Extra-ordinary items, ('A'-'B') 12,554.15 (18,413.30)Prior Period Adjustments & TaxExtra-ordinary items 13 - 1,105.70Profit before Prior Period Adjustments & Tax 12,554.15 (19,519.00)Add/(Less) Net Prior Period Adjustments 14 2,559.05 23.98PROFIT BEFORE TAX 9,995.10 (19,495.02)Less : Taxes - Current Tax 2,363.05 -- Deferred Tax 52.78 (1,349.28)- Prior Period Tax (47.95) (419.02)2,367.88 (1,768.30)PROFIT AFTER TAX 7,627.22 (17,726.72)Less : Appropriations :Interim Dividend 507.61 -Tax on Interim Dividend 85.00 -Proposed Dividend 1,078.67 -Tax on Proposed Dividend 178.46 -Transferred to General Reserve 5,777.48 (17,726.72)7,627.22 (17,726.72)Earnings per share (Equity Shares of, par value ` 10/- each)In ` (Basic and diluted): 1.20 (2.79)Number of Shares used in computing Earnings per shareBasic & diluted: 634513800 634513800Significant Accounting Policies and Schedules 1 to 16 form part of Accounts.K. Ranganath T.M.G.K BhatAs per our report of even dateChairman-cum-Managing DirectorDirector (Finance)for M/s ASA & AssociatesChartered AccountantsP. NitishPlace : BangaloreS.K. PadhiPartnerDate : 6th May, 2011 Company SecretaryMembership No. 0247369th May 201185
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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
Page 36 and 37: either from the recognised Union or
Page 38 and 39: Visit of Third Sub-Committee of Par
Page 40 and 41: Former Secretary (Steel) Shri Atul
Page 42 and 43: Groups on rolls of the Company as o
Page 44 and 45: 23.4 Your Company has also nominate
Page 46 and 47: 25.3 Inspections: 7 CTE type inspec
Page 48 and 49: 27. BOARD OF DIRECTORSAppointmenti)
Page 50 and 51: energy audit to quantify the target
Page 53 and 54: Annexure-IICORPORATE GOVERNANCECOMP
Page 55 and 56: is not practical to send the releva
Page 57 and 58: Corporate Governance (Contd.)c) To
Page 59 and 60: Corporate Governance (Contd.)Detail
Page 61 and 62: Corporate Governance (Contd.)(iii)
Page 63 and 64: 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: 7.2 Provision for Leave Encashment
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 and 116: Cash Flow Statement for the year en
Page 117 and 118: SEGMENT REPORTING FOR THE YEAR ENDE
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