| Dear Members, | |||||
| Your Directors have pleasure in presenting the ninety-second Annual Report and the Audited Statements of Accounts of the Company for the year ended 31st March, 2011. | |||||
| FINANCIAL RESULTS | |||||
| (Rupees in Crore) | |||||
| Particulars | 31st March, 2011 |
31st March, 2010 |
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| Sales/Income from Operations | 5750.72 | 5020.63 | |||
| Less : Excise Duty | 352.84 | 289.98 | |||
| Net Sales | 5397.88 | 4730.65 | |||
| Other Income | 161.62 | 130.72 | |||
| Total Income | 5559.50 | 4861.37 | |||
| Gross Profit | 120.24 | 648.30 | |||
| Less : | |||||
| Depreciation (Net of transfer from Revaluation Reserve) | 272.59 | 172.80 |
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| Provision for Income Tax | -- | 36.00 | |||
| Provision for Fringe Benefit Tax written back [charge/(credit)] | (0.12) | (0.13) | |||
| Provision for Deferred Tax [charge/(credit)] | 57.98 | 202.29 | |||
| 330.45 | 410.96 | ||||
| Net Profit / (Loss) | (210.21) | 237.34 | |||
| Less : | |||||
| Debenture Redemption Reserve/(Transfer back) | (61.25) | 101.25 | |||
| Surplus/(Deficit) for the year | (148.96) | 136.09 | |||
| Add : Opening Balance in P&L A/c. | 1126.75 | 1044.04 | |||
| Amount available for appropriation which the Directors have appropriated as under : | 977.79 | 1180.13 | |||
| (i) | Proposed Final Dividend | 14.87 | 14.87 | ||
| (ii) | Tax on Proposed Final Dividend | 2.41 | 2.47 | ||
| (iii) | Interim Dividend | 10.29 | 10.29 | ||
| (iv) | Income Tax on the Interim Dividend | 1.71 | 1.75 | ||
| (v) | General Reserve | - | 24.00 | ||
| (vi) | Balance carried forward to next year | 948.51 | 1126.75 | ||
| 977.79 | 1180.13 | ||||
| DEFERRED TAX | |||||
| In terms of the Accounting Standard on 'Accounting for Taxes on Income' (AS-22) a sum of Rs.57.98 crore has been debited to the Profit & Loss Account being Deferred Tax Liability for the year under review. | |||||
