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Dear Members,
 
Your Directors have pleasure in presenting the ninetieth Annual Report and the Audited Statements of Accounts of the Company for the year ended 31st March, 2009.

FINANCIAL RESULTS
(Rupees in Crore)
Particulars 31st March, 2009   31st March, 2008
Turnover (including Excise Duty) 4,292.07   3,440.32
Other Income 75.94 40.24
Total Income 4,368.01 3,480.56
Gross Profit 520.97 641.80
Less:        
Depreciation (Net of transfer from Revaluation Reserve)   111.86
 
45.00

  2.00
 
(16.63)
89.27
 
165.00

  1.37
 
2.81
Provision for Income Tax  
Provision for Fringe Benefit Tax
Provision for Deferred Tax [charge/(credit)]
  142.23   258.45
Net Profit 378.74 383.35
Debenture Redemption Reserve (25.00) -
Amount available for appropriation which the Directors have appropriated as under: 353.74 383.35
(i) Proposed Final Dividend   14.87 25.16
(ii) Tax on Proposed Final Dividend 2.53 4.27
(iii) Interim Dividend 10.29 -
(iv) Income Tax on the Interim Dividend 1.75 -
(v) General Reserve 44.78 40.00
(vi) Balance carried forward to next year 279.52 313.92
  353.74 383.35
 

DEFERRED TAX
 
In terms of the Accounting Standard on 'Accounting for Taxes on Income' (AS-22) a sum of Rs. 16.63 crore has been credited to the Profit & Loss Account being Deferred Tax Asset for the year under review.
 
TRANSFER TO INVESTOR EDUCATION & PROTECTION FUND
 
In terms of sections 205A and 205C of the Companies Act, 1956 read together with General Circular no.22/2002 dated 23rd September, 2002 issued by the Department of Company Affairs, the Company deposited about Rs.238.58 Lacs, being the various unclaimed amounts of the company as well as that of an earlier merged company, during the year under review in the 'Investor Education and Protection Fund' created by the Central Government.
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