Annual Report FY 2009-10 - Welspun

Consolidated Profit and Loss Account for the year ended 31 March 2010ParticularsSchedule - 3 Secured Loans (Refer Note 20)DebenturesRedeemable Non Convertible DebenturesNon Convertible Bonds-City of Little Rocks, Arkansas, Series 2007-AAs at31-Mar-103,000.00456.253,456.25C rp LtdAs at31-Mar-093,000.00532.193,532.19(Rs. in million)Term Loan from BanksIn Foreign CurrencyIn RupeeExternal Commercial BorrowingsWorking Capital From BanksIn Foreign CurrencyIn RupeeFinance Lease (Refer Note 15(i))3,762.892,782.376,545.266,789.99808.20808.205.9717,605.67-4,144.4710,537.8614,682.337,623.87303.83100.00403.8310.4326,252.65Share in Joint VenturesTotal1,048.7618,654.43182.0026,434.65Schedule - 4 Unsecured LoansForeign Currency Convertible Bonds (Refer Note 19)Deferred Sales Tax Loan(Repayable In six equal annual instalments from Financial Year 2009 / 2015)Share in Joint VenturesTotalSchedule - 5 Fixed Assets - (at cost)6,735.0083.476,818.463.086,821.55-103.41103.41103.41Gross Block Depreciation / Amortisation/Impairment Net BlockParticulars As atAdditions DeductionsAs at Up to For theDeductionsImpairment Upto As atAs at01.04.2009 31.03.2010 31.03.2009 Year (see note 3) 31.03.2010 31.03.2010 31.03.2009a) Tangible AssetsLand774.49 704.610.76 1,478.3511.71 51.38 --63.08 1,415.26 762.78Buildings6,548.500.13-6,548.63317.58 158.36 --475.94 6,072.69 6,230.92Plant and MachineryOffice and other EquipmentsVehiclesFurnitures and Fixtures26,768.67244.4945.7076.133,432.39171.5810.6635.42381.5714.990.802.9229,819.48401.0855.57108.633,300.4182.6313.6627.441,693.4152.665.428.3735.423.170.411.78----4,958.40132.1318.6634.0324,861.08268.9636.9074.6023,468.25161.8532.0548.70b) Intangible AssetsGoodwillSoftwareTotal (A)Assets held for disposalTotal (B)108.18225.5234,791.694.3434,796.030.008.074,362.874.134,366.99--401.04-401.04108.18233.5938,753.518.4638,761.9882.228.123,843.77-3,843.7725.9744.502,040.07-2,040.07--40.78-40.78----108.1852.625,843.05-5,843.05-180.9732,910.468.4632,918.9225.97217.4030,947.924.3430,952.26Share of Joint Venture (C)TOTAL (A+B+C)Previous YearNotes:47.6034,843.6322,499.400.234,367.2212,668.45-401.04324.2247.8338,809.8034,843.633.453,847.222,405.770.242,040.311,444.861. Depreciation for the year includes Rs 21.86 million (Rs. 12.10 million) transferred to Pre-operative expenses.2. Plant and Machinery includes Gross block of Rs 63.49 million (Rs.63.49 million) in respect of expenditure incurred on capital asset, ownership of whichdoes not vest with the Company.3. In accordance with the provisions of the Accounting Standard 28 on Impairment of Assets issued by the Institute of Chartered Accountants of India, theCompany has identified certain fixed assets in respect of a Joint Venture (Namely Dahej Infrastructure Private Limited) that were impaired duringthe year mainly on account of economic performance and viability of such assets which does not have any value in use. Accordingly an Impairment loss ofRs. 42.16 million has been recognised in the profit & loss account for the year.4. Deductions in gross block for the year includes Rs. 314.57 million on account of decapitalisation of foreign exchange as per amended AS 11.-40.783.4142.1642.1645.855,888.903,847.221.9832,920.9030,996.4144.1530,996.4189