Kesoram Industries Limited | Corporate Relations Website

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. 14.92 Lac, being Unclaimed Dividend and interest on Fixed Deposits of the Company, during the year under review in the 'Investor Education and Protection Fund' created by the Central Government.

DIVIDEND

The Board of Directors in its meeting held on 10th November, 2010 declared an interim dividend and today has recommended the final dividend for the year ended 31st March, 2011 on Ordinary Shares as under :

	31st March, 2011	31st March, 2010 (Rs.)
	(Rs.)	31st March, 2010 (Rs.)
Interim on 4,57,43,318 Ordinary Shares of Rs.10/- each @ Rs.2.25 per Share (Previous year 2.25 per Share)	10,29,22,466	10,29,22,466
Final on 4,57,43,318 Ordinary Shares of Rs.10/- each @ Rs. 3.25 per Share (Previous year Rs.3.25 per Share)	14,86,65,784	14,86,65,784

Because of loss in the current financial year, the Interim / Final dividend is paid / recommended out of accumulated profits of the Company. Thus, the total dividend of Rs 5.50 per share, as per detail given herein above, has been paid / recommended by the Board for the financial year ended 31.03.2011.

AUDIT REPORT

As regards paragraphs 1(b) and 2(a) referred to by the Auditors in Annexures to Auditors' Report, the physical verification of the fixed assets (in phased manner) and inventories, as referred in para nos.1(b) and 2(a) respectively at the Spun Pipes & Foundries Section of the Company, could not be possible because of continued suspension of work and barricade in front of the factory gate by a section of workers at the said Section. So far as paragraph 9(b) of the said Annexure to the Report is concerned, the same is self-explanatory and needs no further explanation by the Board.

Regarding the paragraph 4 of the Annexure to Auditors' Report, the Company is taking necessary steps to rectify the deficiencies in relation to information technology general control with regard to the Tyre & Cement Sections by getting the existing programme modified to meet the required controls.