Annual Report FY 2009-10 - Welspun

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th15 Annual Report 2009-1023. Prior Period Expense/IncomeDetails of Prior period income of Rs. Nil (Rs. 166.27 million)-(net) is as under:Account HeadExpensesFinance ExpensesOthersIncomeExport and Excise IncentivesInterest IncomeOthersPrior Period (Income)/Expenses -(net)Total31 March 2010------(Rs. in million)31 March 20091.810.20(126.80)(24.25)(17.23)(166.27)24. Related Party Disclosurea) List of Parties where control exists: The list of Subsidiaries is disclosed in Note 1(d) above.b) Other related parties with whom transactions have taken place during the year and balances outstanding as on the last day ofthe year.(i) Joint VenturesAdani Welspun Exploration Limited, Dahej Infrastructure Private Limited.(ii) AssociatesRed Lebondal Limited and Welspun Energy Limited.(iii) Other Related PartiesWelspun India Limited, Welspun Power and Steel Limited, Welspun Orissa Power and Steel Limited, Welspun RetailLimited, Welspun Anjar SEZ Limited, Welspun Foundation for Health and Knowledge, Welspun Syntex Limited, VipunaTrading Limited, Welspun Logistics Limited, Welspun Realty Private Limited, Welspun Enterprises (Cyprus) Limited,Krishiraj Trading Limited, Remi Metals Gujarat Limited, Welspun Steel Plates and Coil Mills Private Limited, WelspunMaxsteel Limited.Directors /Key Management PersonnelName of the Related PartyNature of Relationship* Ceased to be director w.e.f 3 October 2009.Disclosure in respect of transactions which are more than 10% of the total transactions of the same type with related partyduring the year1. Sale of Goods and Recoveries from include to - Welspun Tradings Limited Rs. 22,539.58 million (Rs. 30,036 million) (ReferNote 28).2. Sale of Fixed Assets include to- Welspun Power and Steel Limited Rs. 0.87 million (Rs. 0.26 million), Remi Metals GujaratLimited Rs. 1.63 millions ( Rs. Nil ).3. Purchase of Goods and Services include from- Welspun Power and Steel Limited Rs. 48.25 million (Rs. 37.47), WelspunLogistics Limited Rs. 17.93 million (Rs. 23 million), Welspun Retail Limited Rs. 1.06 million (Rs. 2.35 million), WelspunIndia Limited Rs. 2.06 million (Rs. 22.32 million).4. Purchase of Fixed Assets includes from - Welspun India Limited Rs. 1.24 million (Rs. Nil), Welspun Power and SteelLimited Rs.Nil (Rs. 0.04 million).5. Expenditure includes -Rent paid to- Welspun India Limited Rs. 2.23 million (Rs. 2.92 million), Vipuna Trading LimitedRs. 6.66 million (Rs. 6.62 million), Welspun Realty Private Limited Rs. 81.96 million (Rs. 47.51 million), Welspun Anjar SEZLimited Rs. 16.90 million (Rs. Nil).6. Donation to- Welspun Foundation for Health and Knowledge Rs. 18 million (Rs. 24 million) (meant for corporate socialresponsibility activities).7. Other Income includes- Rent received from Remi Metals Gujarat Limited Rs. 0.57 million (Rs. 0.13 million).102
8. Loans, Advances and Deposits includes given to Welspun Logistics Limited Rs. 32 million (Rs. 128.78 million) and repaidduring the year Rs. 3.00 million (Rs. 196.70 million).9. Investment in Equity Shares of Welspun Energy Limited Rs. 0.13 Million (Rs. Nil).10. Sale of Investments of - Welspun Urja Limited Rs. 0.26 million (Rs. Nil) to Welspun Energy Limited, Welspun Steel Platesand Coil Private Limited Rs. 0.10 million (Rs. Nil) to other related parties.11. Share Application Money includes - given to Welspun Energy Limited Rs. 22.00 million (Rs. Nil).C rp Ltd12. Issue of Equity Shares by exercise of employee stock option scheme (ESOP) to Whole Time Directors is Rs. 14.00 million(Rs. 0.94 million).13. Reimbursement of Expenses (Net) includes to Welspun India Limited Rs. 64.95 million (Rs. 68.93 million), WelspunPower and Steel Limited Rs. 8.68 million (Rs. 0.93 million), Welspun Anjar SEZ Limited Rs. Nil (Rs. 28.63 million).Disclosure of Closing balances as at 31 March 20101. Loans, Advances and Deposits given include - Welspun Realty Private Limited Rs. 425.93 million (Rs. 467.60 million),Welspun Logistics Private Limited Rs. 52.40 million (Rs. 23.40 million).2. Sundry Debtors include- Remi Metals Gujarat Limited Rs. 14.66 million (Rs. 158.59 million), Welspun Tradings Limited Rs.Nil (Rs. 789.54 million).3. Sundry Creditors include -Welspun India Limited Rs. Nil million (Rs. 0.97 million), Welspun Anjar SEZ Limited Rs. 23.59million (Rs. 28.62), Welspun Logistics Limited Rs. Nil (Rs. 14.41 million).4. Investments held include of -Welspun Energy Limited Rs. 0.13 million (Rs. Nil), Welspun Enterprises (Cyprus) Limited Rs.0.77 million (Rs. 0.77 million).5. Share Application Money given to Welspun Energy limited Rs. 22 million (Nil).6. Guarantees and Collaterals provided include issued to- Red Lebondal Limited Rs. 628.60 million (Rs. 710.08 million),Welspun Power and Steel Limited Rs. 222.97 million (Rs. 222.97 million), Adani Welspun Exploration Limited Rs. 287million (Rs. 280 million).25. On 31 March 2010, the Company has acquired 99.97% stake in Welspun Tradings Limited. Details of Net Assets acquired andconsideration paid are as follows:-Inventories(Rs. in million)3,580.43Trade Receivables1,488.33Loans and Advances937.10Cash and Cash Equivalents4,831.52Other current Liabilities(10,634.29)Net assets acquired203.09Cash consideration paid50.21Capital Reserve arising on acquisition of Rs. 152.88 million has been recognized in the consolidated financial statements.26. Earnings Per Share (EPS)ParticularsI) Profit computation for Basic and Diluted EPSNet Profit for the year (Rs. In Million)Add: Interest on Foreign Currency Convertible Bonds (Net of Tax) (Rs. InMillion)Profit After Tax for Diluted EPS (Rs. In Million)Year ended 31 March 20106,104.0387.516,191.54Year ended 31 March 20092,135.06-2,135.06II) Weighted average number of equity shares for EPS computationa) For Basic EPS (Nos)b) For Diluted EPS (Nos)192,638,617218,019,604185,569,595186,864,123III) EPS on Face Value of Rs. 5 eachBasic (Rs.)Diluted (Rs.)Rs.31.69Rs.28.40Rs. 11.51Rs. 11.43103
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15 thAnnual Report2009-10C rp LtdFo
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C rp LtdFINANCIALS AT A GLANCEParti
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C rp LtdFinancial ScorecardAn excep
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...the journey continuesInfrastruct
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C rp Ltd• Spiral Pipe (API Grade)
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C rp LtdPARTICULARS OF EMPLOYEESAs
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01 Specific areas in which R&D is c
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WELSPUNSupplier of....Deepest Pipel
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C rp LtdCORPORATE GOVERNANCE REPORT
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) Number of Shareholders complaints
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C rp Ltd6. Stock Market price data,
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C rp Ltd16. Plant locationsi) Villa
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C rp Ltd...To global reachFROM LOCA
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C rp Ltdeconomic crisis but also sa
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C rp LtdIndian Steel Pipe Demand ov
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C rp LtdSWOT Analysis of the Indian
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C rp LtdWelspun - A SWOT analysisSt
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C rp LtdForex fluctuationsWith more
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C rp Ltd• Succession Planning pro
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C rp LtdCost of goods sold as a per
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C rp Ltdreserve account and Foreign
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C rp LtdExplanation for b) in respe
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...IT STRENGTHENS ITCHANGE DOES NOT
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C rp LtdHealth Awareness WorkshopsP
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Annual Report FY 2009-10 - Welspun

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