NOTES :
1. Sales are inclusive of Excise duty.
2. In term of Central Government's Notification no. S.G.R. 225 (E) dated 31st March, 2009 amending the Accounting Standard (AS) 11 , the Company has exercised its option to adjust the foreign exchange loss of Rs. 2691.90 lacs to the cost of depreciable capital assets acquired out of the related foreign currency loans. This amount is inclusive of Rs. 8.10 lacs relating to and charged off in the previous year, with correspoding credit to General Reserve.
3. Other Expenditure for the current year includes Rs. 1853.55 lacs (Previous year nil) being actual/mark to market loss in respect of certain derivative contracts remaining outstanding at end of the year.
4. Pursuant to the order dated 5th February, 2002 of the Honourable Calcutta High Court, Deferred Tax Liability / asset (net) in earlier years were first adjusted against the available balance in Securities Premium account (completely utilised by 31st March,2008) and proportionate shortfall recognised as a charge to Profit and Loss Account during the year 2007-08. The decrease in Deferred tax Liability (net) of Rs.1662.67 lacs for the year 2008-09 has been credited to Profit and Loss Account.
5. Pending disposal (consented by the shareholders in March, 2006) of the Company's Hindusthan Heavy Chemicals Unit, the revenue / expenses of the unit (insignificant in terms of the Company's total revenue / expenses ) have been and will be included in these and subsequent results till its disposal.
6. The Company's Spun Pipes and Foundries Unit continues to be under suspension of work (effective 2nd May, 2008).
7. The Greenfield tyre project in Uttaranchal with production capacity of 257 MT/day has been successfully implemented and started commercial production in phases and the final phase was completed in January, 2009.
8. Consequent to sluggish demand resulting, inter alia, from partial production shut down by certain major automobile manufacturers, the Company's Tyre Unit declared suspension of production at its Balasore factory for forty one days from time to time between the period from 17th December, 2008 to 28th February, 2009. But since 1st March, 2009 normal working has been resumed.
9. In respect of amalgamation of Bulland Buildmart Pvt. Ltd; a wholly owned subsidiary, with the Company necessary approvals of the shareholders of both the Companies have been obtained in the Extra Ordinary General Meetings held on 23rd April, 2009 as convened by the Honourable Calcutta High Court , before whom the related scheme is currently pending .
10. Consolidated results with Bulland Buildmart Pvt. Ltd; have been prepared from 1st July, 2008 the date it became a wholly owned subsidiary of the Company.
11. The number of investor complaints received, disposed off and lying unresolved at the quarter ended 31st March, 2009 are as under :
Pending at the beginning of quarter - NIL
Received during the quarter - 42
Disposed off during the quarter - 42
Lying unresolved at the end of quarter - NIL
12. Comparative figures have been regrouped or rearranged , where considered necessary which however are not comparable with current year's figures in view of statements made in notes 6,7 and 8 above.
13. The Board of Directors in its meeting of 31st October, 2008 declared interim dividend at the rate of Rs. 2.25 per share (Previous year nil).
14. The Board has recommended payment of final dividend @ Rs.3.25 per share for the year ended 31st March, 2009 (Previous year @ 5.50 per share ).
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By Order of the Board |
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Place : Kolkata
Date : 2nd May, 2009 |
B. K. Birla
Chairman |
N.B. :
a. Register of Members of the company will remain closed from 11-06-2009 to 26-06-2009 (both days inclusive) for the purpose of payment of dividend. The particulars of the Company's Share Transfer Agent are as under :
b. M/s M C S Limited
(Unit Kesoram Industries Limited)
77/2A Hazra Road, 3rd & 5th Floor,
Kolkata - 700 029
c. Phone 033-24767350 to 54
Fax 033-24541961, 24747670
Email mcscal@cal2.vsnl.net.in
mcscal@rediffmail.com
