Annual Report FY 2009-10 - Welspun

th15 Annual Report 2009-10V. Change in Fair Value of Plan Assets(Rs. in million)ParticularsGratuityGratuity(Funded)(Funded)2009-102008-09Fair Value of Plan Assets as at 1 April 2009 59.0045.10Expected Return on Plan Assets 4.17 2.44Actuarial Gain/(Loss) on Plan Assets 15.26(12.64)Contributions 0.43 25.99Benefits Paid(8.08)(1.89)Fair Value of Plan Assets as at 31 March 20 10 70.78 59.00* Included in the “Contribution to funds” (Refer Schedule-16).12. Capital Projects(i) Pre-operative Expenses (including accumulated borrowing costs of Rs. 378.87 million) of Rs. 488.98 million (Rs. 266.46million) in respect of projects capitalized during the year have been allocated proportionately to the direct cost ofrespective building and plant and machinery.(ii) Borrowing costs related to Plate and Coil Mill capitalized / allocated to fixed assets / Capital work in progress is Rs. 47.87million (Rs. 240.30 million).(iii) Estimated amount of contracts remaining to be executed on Capital account and not provided for Rs. 3,415.52 million(Rs. 733.69 million), net of advances.(iv) Capital Work in Progress, includes Capital Advances Rs. 929.06 million (Rs. 403.43 million) and Pre-operative expensesRs. 35.35 million (Rs. 460.27 million).(v)The details of Pre-operative Expenses are as under:(Rs. in million)ParticularsExpenditure upto previous yearAdd: Expenses incurred during the yearJob chargesPower, Fuel and Water ChargesMaterial Handling and Transport ChargesSalary, Wages and AllowancesStaff WelfareRentRates and TaxesRepairs and Maintenance ExpensesTravelling and Conveyance ExpensesCommunication ExpensesProfessional and Consultancy FeesInsuranceVehicle expensesSecurity chargesMiscellaneous expensesFinance expensesSub TotalTrial Run ExpensesRaw Material Consumed- M S Slabs 2,284.57 MT (Nil)Production- H. R. Coils 2,226.45 MT (Nil)Stores and Spares ConsumedPower, Fuel and Water chargesSalaries, Wages and AllowancesSelling and Distribution ExpensesTrial Run RecoveriesNet Sales- H. R. Coils 636.24 MT (Nil)Finished goods transferred to operation- H. R. Coils 1590.25 MT (Nil)Net LossTotalLess : Amount allocated to Assets Capitalized during the yearBalance Carried to Balance Sheet31 March 2010 31 March 2009460.270.670.56-0.27-0.210.30-0.360.042.144.400.390.032.3947.8759.6354.750.246.130.411.39(18.44)(40.05)4.43524.33488.9835.35471.96--(2.67)11.850.38--1.51-0.240.452.53--0.18240.30254.77---------726.73266.46460.2774