| Dear Members, | |||||
| Your Directors have pleasure in presenting the ninety-first Annual Report and the Audited Statements of Accounts of the Company for the year ended 31st March, 2010. | |||||
| FINANCIAL RESULTS | |||||
| (Rupees in Crore) | |||||
| Particulars | 31st March, 2010 |
31st March, 2009 |
|||
| Net Sales/Income from Operations (including Excise Duty) | 5,020.63 | 4,292.07 | |||
| Other Income | 125.07 | 75.94 | |||
| Total Income | 5,145.70 | 4,368.01 | |||
| Gross Profit | 648.30 | 520.97 | |||
| Less: | |||||
| Depreciation (Net of transfer from Revaluation Reserve) | 172.80 |
111.86 |
|||
| Provision for Income Tax | 36.00 | 45.00 | |||
| Provision for Fringe Benefit Tax [charge/(credit)] | (0.13) | 2.00 | |||
| Provision for Deferred Tax [charge/(credit)] | 202.29 | (16.63) | |||
| 410.96 | 142.23 | ||||
| Net Profit | 237.34 | 378.74 | |||
| Less : | |||||
| Debenture Redemption Reserve | 101.25 | 25.00 | |||
| Amount available for appropriation which the Directors have appropriated as under : | 136.09 | 353.74 | |||
| (i) | Proposed Final Dividend | 14.87 | 14.87 | ||
| (ii) | Tax on Proposed Final Dividend | 2.47 | 2.53 | ||
| (iii) | Interim Dividend | 10.29 | 10.29 | ||
| (iv) | Income Tax on the Interim Dividend | 1.75 | 1.75 | ||
| (v) | General Reserve | 24.00 | 44.78 | ||
| (vi) | Balance carried forward to next year | 82.71 | 279.52 | ||
| 136.09 | 353.74 | ||||
| DEFERRED TAX | |||||
| In terms of the Accounting Standard on 'Accounting for Taxes on Income' (AS-22) a sum of Rs. 202.29 crore has been debited to the Profit & Loss Account being Deferred Tax Liability 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 Corporate Affairs the Company deposited about Rs.13.26 Lac, being Unclaimed Dividend and interest on Fixed Deposits 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. | |||||
