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Indag Retread AnnualReport2011

Indag Retread AnnualReport2011

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NOTICE NOTICE IS HEREBY GIVEN THAT THE THIRTY-Sg:OND AN~UAL G~ERAL MEETING OF ll"IE MEMBERS OF INDAG RUBBER LI MITEDWILL B&H ELP ON TUESDAYTHE'9111 AUGUST 2011 AT 10:00 A.M AT SAl INTERNATIONAL CENTRE, PRAGATI VIHAR, LODHI ROAD, ~EW DEJ_H1-, 1 OOOSTO TRANSACTTtfEFOLLOWING BUSINESS; ORDINARY BUSINESS t , To receive, consider and adbpt the Audited prom and Lass Account for the year ended 31 st March 2011 and the Balance Sheet as on that date, together with the Reports of the Board of Dlreetors and Auditors thereon, 2. To appoint a Director ill place of Mr. R. PSrT;Imeswsr, wha retires by rotation and being ellgible



re -appetntment, 3. To appelnt a QTrector 11'1 place ef Mr.S.L.Kl1emka, who retires by rotation -and being eHgible offers himself for re-appointrnem.

4. Todeclaredividand. '5. To appoint MIs. $,A.8atliboi& remuneration. SPECIAL BUSINESS 6. To consider and rf thought RESOLUTiON: Cel11pany, Chartered Accowntqnts'a5 AU!;lltors of tne Company and to fix their

fit, to pass with or Without moditlcallon

the foilowing



RESOLVED THAT pursuant to the provlelcns of Section 196, 269. 309, 31 0, read with schedUle XIII and other ClPpllcable provisiOlls, If any; of the Companies Act, 1956. consent of the members be aAd is herebY a.ocorded fer re-appolntment and remuneration of Mr.K.K.Kapur as Whole-lime DkectQr 'designated as Chief Executive Officer) o{ the Company for a period 'Of five years with ef!e€t from June 1, 2.011 who has attained the age of 73 years, ~pon 1I1eterms and oonditions & remune ratjail asset out below. with the I1berl.yto the Board 01 Oirectafs to alter-and varY the tSfl1'lS & G~nditj(;>nsther-ela ill such manner as rl'lay be agree~ 10 betweerrtj1e Board of Dlrect0rs and Mr.K..K.Kapur. (A) (8)

The Whole lIrpe DirecteT shall control daY"-to-day affairs of the the WltifTlatesupervision and control of theeoard ot Direotors.
PeriOd of Agreement:
Fiv~ Years w.e.f. June 1 , 2011.

Company and its business affairs subject to


Fixed Sa~aryComponent 1)
2) Salary: Heuse Rent Allowance: Rs..a, 00,000/- p.ermanth

3) PerCjulsites : PerQui~ites will be allo~ed In addition tq s_arary restricted Ie an amount equal to the Annual Salary or Rs.SUlOal· per annum, whichever is less. For this purpose, perquisites are classified into three cateqortes, Cat~ory-A. 4) category.B and oategory-C and cellingsthall apply only to category-A. The rernuneratlcn wUI be increased every

yaev at the

rate ofRs.50, 000/- per month.

Variable Salary Component
5) Bonus: The Whol.e-! rme Director will also be entitled


profit sharing bonus,at

the rate of 2% of

profits caiGuta1ed as p1Grlh90prOvisiensof section 349 and 350 6f ths Companies Act, 1956.,


,INDA,Gr Classification Category A Leave Travel CGneassicm: Medical Expenses: Category'S Reil1lbumement towards 1he-expsl1sesincurred. QYhim and his family in a ye.ar fer an WTlej,Jnl not exeeeding Rs. 76,000 t- per annum. of Perquisites:

on leave travel


Reimbl::.ll'SE!1'fle'ri.t towards the medical expenses incurred on fi'lms£!lf or on his "family tonan
amount no1mtceedjn~ Rs.15, 000/- per annum.

CClmpany's contrlbu.trcm to Provident Fund, Superarllluation RUles, 1962. GratuitY payable sMail not exceed fifteani:lays
six months, subject to a ceilIng as per been in ecntinuouseervlee CategoryC The-Company shall provide

fund or annuity fund to


extent under

theo lnooms


salary for each completed year of services orpart thersof In excess of of GraltJfty of Act 1972. For this purpose, 9th Apri~2001.


heowllli be

deemed to have

of the cornpanyslnce

caF with dri",er and



tim e Director.

Notwithstanding anything to the contrary herein. contained, Where in any fnancial yeqr durin!;lthe tenure of Mr. K K Kapur as Whole-Time Direotor, the Company'] ncu rs losses or its profits are inadeqllate, the Oornpany shalillay t~Mt. K K Kapur, the above rel]lunel'aijon by way of Fixed salary, Perquisites, allowances and other benelits payable as a minimum remuneration, subJeef tacomplyiAg with restriations I reculrernents 1nthis regard under relevant provisten.of the GompaniesAcl. ; 956 and related statutory reguJaltCllns.
OtherTerms and conditionS":


The Whole Tirna OJrestor shall not becorne interested or otherwise c0neern~d directly or thfGlugh Mi$ wife andfor miner children in any buyin!!! and selling agency at the Company in Mure with om the. prior .apf'lrolial Qf the Board af Direotors or subjaGt10 sueh other approvals as may be-consldered'necessary.
The Whole Time Diremor shall not be entitled to fees paMable to Directors for attendance at Beard Meetings and of aU Committees appointed bytha Board.

2) 3)

The Agreement h.e terrnlnated either party by giving to 1he olher one-month notice of such termination orone month salary in lieu_thereof.at the COr"f1pany's option; which may be given at any time. The WtlOll!lcTrrne Direc!orwiH nQt be-.entitled to anyeompansatlel'l fer loss of office due 10 termination under Seetion 3118of the Company Act, 1956 or otherwise. The Whole Time Dlrecter Shall exercise such powerandlunction
and on such term as




theoBoard of Ellractots

of the Company may ptesoribe from time to time, it being agreed alild understood the the Board shall have

Ihe-power to alter modify, revokeor w[1hdrawall orany of the powers so eonterted. ~) The WhOle Time Oireqter shall be liable to retire by rotation,
Fo~ and on behall of the Board Clf 01r~ers

New Delhi
April 18.2011

Manall O.8ii1ani

Company Secretary


/'INDAV/ NOTES 1. A MEMBER ENTiTlED It;l ATTj::ND A~O VOTE AT THE MEETING IS ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE ON A POLL INSTEAD OF HIMSELf AND A PROXY NEED NOT BE A MEMBER OFTHE COMPANY. PRGXIES,IN E>RDERTO BE EFFECTIVE, MUST BE RECEIVED AT THE REGISTERED OFFIOE OFTHE COMPANY NOT LESS THAN FQR'rf-EiGHT HOURS I~EFORETHETIME FIXED FOATHE ANNUAL GENEA:h>LMEETING. 2. The RE!gster"OfMe""bers and ShareTransfer Beeks 01the Company Will rarnaincIQ$edfrom1"'1 Allgust2011 to 9-111 August 2011 (botl1craysIncl~rve). . 3, Members/Pr()xies must brlhg thQAttenaanc(\tSlip_ouly filled imfor attending the meeting and hand Itoverai the enti'a.nce 4. Members desiring any lnformaJjpn 0'f1the ApcQunts are required to write to Ihe company at its Registereq Offi~e glv11il9 at leas! seven days lime before the date of the Annual Genera,l.Meefjhg to enable tile Managemenl to collectand keep,tha information ready. 5. Members are requested bring their copy Cif Annllal Report wllh them, as the same will not be suppli;e(! agaIn a,llhe meeting as a measUre el econpmy. 6. Pursuant t"O the prohibition' Imposed vide Secretarial Standard an General Meetings (55-2) Issued by ICSt no gJftslcoUpon will bedlstr1buled at or In connection with the meetll1g. DETAILS OF DIRECTORS SEEKING APPOINTMENT' REAPPOII'4TMENT ATTHE FORTHCOMING ANNUAL GENERAL MEETING (IN PURSUANCE OF CLAUSE 49 OFTHE USITNG AGREEMENT)




Name of Directors
Dale of Birth Oafe of AppOintment

SM. R. Parameswar 17 May ~9_33

Shri S.LKhemka
1l·' Janua_ry1927

Sl1ri KKKapur 15ID October 1937
9'" April 2001 - Post·graduate in Mathematics - Member of the InstiMe a(ld of Cost Works Accountants 01India



Since Ineo(Q_oratian
Graduate and ,

Post Graduate (HistorY)



Audit Service

of outside Direc orship held on 31 si March 2Q11 reumnar 01 snares nero In






the oompany



EXplanatory Statement (Pursuant ttl Section 173(2) of the Companies Act. 1956) Item No.6: Appointment of Whole-time Director Mr, KKKapur has been re-apr;lointecl as aWl:\o!e-,lime Dlr~or of th&e~mpany by the Beard of'f3ireolOrs with effecttiolll June 1,2011. [or a~rla"tJ of Ive years1 pursu~nttothe proV1sens of the Co.mpanLes Act, 1%6. Mr. K. K. Kapur was Initially agpolnted asWhole Tlrne DIrector on gj" April 2001, Thereafter, his term. Qf offIce was renewed in theo1ear20jJ2." 200a, 2004, 2005 and 2008. . Mr.K.K.Kapuf. aged 73 YBarS, ls iii post-gradualEi in Mathematics am! a Member of tila InsUtu e of Cost and Works AGC.iJlJl1,at)~s India M[.K.K.Kapuf has an experlenee of over 50 years and has se:~ve.d various capacities with Steel oJ in. Authority of Ihdia Um~d. Ga~ Al,Ithority Qf h;dlalimited and Emon Inola. Mr.K.K.l<a{'lur has retire·d from the office of Cflair!1ia.t:1 & Managing Direclorof Gas Auth01'ity of India ,'~ UiEI ye~r 1996, tbar.eafterserved as Managing Dl~eclo~of Enron India (JlJ.G) theyeat 1998. tiff Presently. Mr.K.K_Kapl.Jr rs nota,dlrector on thee 89a~d:of aflY other company ora memlimrichafrman of ilnyCiither Commiltee. 111e t~rms &' CQn.dlti"Qns of aepelntrnent &, remuneratlon of Mr.KK.Kapur a.s a WIi.,ole-time Dlreetor are·offl.lined In the resolution plaoed before lhemem~rs. The A,emuneratlon Commlltee andthe: Boa td of iJlreetors 11"1 their mee~ng.sdaled 1 a'" A.prll 2.011 aJ;lproved the terms of appolntme nt ancl.reml.lneratlon ot Mr. K K Kap The spec~a1l'eSf)lutionas sel out in Item no. Ii) of Ine anl"leXed notlce is, ,1M sretore rseommsnded for your approval. The Board eorrsidets thaUl would be in ihterest of tIrIe Company te appoirrt Mr.K K Kapur as th~ Whole-time Directorofthe Company. Except Mr.K..KKapur, [10 other director Is interested In the proposed resolution. :Abstract 0f the terrns of l:Wp".ointrnentaJ:"lti me rnorando m o{ lntereS,\.pl,Jrsuam Ie Section 302 of the Cotrtpanlas Aot, 1956 hasalready been sent to all the Memb~ ql the CQlJlparw. For and on behaJt of the Board oT OjrootorS



April 18, 2011


Menali [}.BiJlani Company$ecretlUY

Your company has-tak:en several steps 10 (eallles G9sts·and increase opsratlonal effiCiency.in lacs) Sales and Operating InGOm~ Profit bef0re Intarest & D~precialion Finance Exr:enses Profit before Depreoiati011 Depfeqiation Rrofit beforetax Profit aft.13croras In the preVious year. With raw material costs accounting lOrneatly 70P/o 01 the cost 0f producllon.ffec. as a (as!.ctots. As a rsault We were compelled to increasethe prie&-Qf6urprodUots on mere llian one occasion dUring thispertod.tedlfle demand.S-0 per equity share !hUB ma~lngaiotal.50 per share on Nl!lveffiOe:r9.62 1670. The price of Natural Rubber as well as Synthetfu Rubber inGreased by OV6150% between October 2010 to February.shareh'olders is INDUSTRY EXPERIENCE of The raw materials p~icas particularly of Natural and Synthet1nJubber reached very nigh lev~ls.in lacs) 2009-10 (Rs. me company despite inflationary pressures made profits before tax of As. amounted to RS.2Q1 QI Which has b~n pald.70 crores as B§ainst Rs. growth of 14%. 1.22 112. 13. ANANCIAL Particulars RESULTS: 2010-11 (Rs. 1.41 41. the working eapltal requiremeTjts increased substanti~ly resulting in Increase rn interest and finanCIng cost trom Rs. The Operational Profil.11.oWso that impact of loss at tax benefit is mih!mized.adversely a.especia"ydurjng tile last four five months of Ille year.12 Crores in thecurrent year.2011.80 13915. 13. 112.25 11213.25 DurIng 'tile year under review yourcornpany has achieved a turnoverorRs_15027 crores as agalhst Rs.2.!e to employment of funds torexpansion end for meeting the hIgh cost of raw materialS.ro -.OO per e~lJity share fur tl1-e financial year 2010·2011. 0.02 1157.58 1075.12 13S5.. YOlJrcompany was enjoying 100% IncorneTax exemption for previous live yea. The year saw unprecedented incraase in the prices of raw materials in the second half. The GliviElend tax free in the handsofthe.ertax 15027. During next five YB?I'sonly 30"cIo f the pmfits wJII baexemptfrem Iflcome tax.are pleased to present tlile 3211" :Ar'lnwalReport togetherwlth the Audited'Statemeot of Aocounts of the Company forthe accounting year ended March $1.36 78.37 1557. I "NDAG' DIRECTORS' REPORT To THE MEMBERS. Your Dii'e.hich.25- lhterlm Dividend Proposed Final Dividend OPERATIONAL PERFORMANCE 78.65 Crares compared to Rs.dividend RsA.75 131.96 crores in the previous year. Therewas considerable consumer reslsti!:ncew.aombiAed 4 '- . 2011.92 Crores Ih the previous year showing a.27 1192.85 193.27 1364.41 Crares in the pr9vi0us year to As.29 163.16. before making provision for iflterest and depteciatjon.75 131. DIVIDEND During the year your directors declared Ihterim dividend of Rs. The Dlrectars ate pleased to recommend a final dividend of Rs.rs w~ich ended f~ financial year 20092010. Management's discussion and AnalYl"is has been Included as partof this report. o The company wIll continue its eHorts to gr.!lt of whiGh. Dt.

sing price of1yfE$ and sup ply deficit otrubber lor tyr-emanufaofuring may give further boost to retread InduStry. due to epera~:onal savings. INTERNAL CONTROL SYSTEM The Oompany has adequate internal cOntrol systems and proaadj. staff and 0ffieers. OPPORTUNITIES AND THREATS workil1g on new We.:tease in price of raIN matErials: Nlllrmai increase in prices of faw materials Is generally fealorea while fixing pl"educt prie~s 10the eustcmers.1'l1e absence ef quality manufacturing standards in retread industry hurts the consumer confidence im retreading in generaL RrSKS ANDTHEIR MITIGATION Tyrs retreading in India has gained grea1eracceptance The CClI:npanyis exposed till varloue risks which are normal in any business enterprise.with inlense competition. The internal Gonlrol systems a:re d. There were 251 regular employees dLlrlll9 the year. inthe commercial segrner:it.lncllJding syntheflc rubber and rubber ohemleals.cturers Associatillln (ATMA) of ImediaInas requested the G0vemmentfor alloWing duty-free Imports of key taw'matetials. • Operational risk PreventiVe maintenance is carried out to achieve h!gh level of machine availabilitY. In Ihecase of olhers PDO's are laken against supplles. sU!'lJ. Improvementln quality efroMs andreduceo overloading a(~ expeeled to give. South Korea. Plants ami depots.ttel1{to sales Increase. Since tread eernpeunds and' patterns also centrlbute to a tyre's fuel efficiency" we continue cornpoundaand dcesigns to Iilelp customers with fuel eccnemy and eea-frlendly retreads. HoWever-BO% ofthe India". The main ones and the-steps Undertaken t0mltigate the. Malaysia and Russia. High qualitY fett:'eadin!!l products €lave acceptance in commercial segmentwnich offer aclooo financial benefits.hole.30% the cost of a new tyre and helps increase the service life of tyres. TMe Autlllmotive lyre ~anufa. The Company has adequate Budgetary Control System and actual performance Is Wl1stanW monitored by the management The Company has we!! designed organ~zatiGmstruGture. The eStabl. who produce low quality tl"eaQ ru bberor do peer retreads. using various motivaflonal tools and meeting their training needs reqUirements. and obtaim ng PQC Cewre delivery wherever possible. allth0rity leVels <ifld Internal !1juldellnes >andrules. ·Inc. retregeil'lg indUstry wi.:Iequate ih'lentory of stocks at each stage af operafion is rnaartained to keep production 9Qing en in case of any breakdown. mainly with STUs.esigned ta ensure that the financial and other recordsare reliable for the preparation of f1nancfal statemerrts and f6r malntaThfng accountal of assets.bled tastdelivery of mate/lal to customers 'whereverthey may be. unprecedented Increase in raw mat e ria I prlees have serlous impact on margins. service and value to end-cusrarners. Thls would hstp the industry in cutting down the cost of raw materials Imported tram China. • PrOduct risk: Researchand development is-confinuously being undertaker to debver Detter products.)icfil. team spifrt and deveiopinggreater sensa of responsibility.is fragmented and lies with numerous IJnorganlzed participants..flilip to retreatd1ng.lres designed to effaclNely COi1trOl the Qperations at its Head Office.se risks ate mentioned below:• Hnancial risk: Credit !risk on account of material suppJilad to customers has been mitigated to a large exte~t by inSistIng an number 01 parties to pay In advanee befare supplies are maee. Retread1ng cOJ~tis app(gximately25% . HUMAN RESOURCE DEVELOPMENT During the year the company had cordial relations with workers. profitabilfty could not lnerease pflllportiorll.lmanaged _by rigorous follow-up.)ly of good quality tread ets. The shop floor management is done through personal touch.l:'ler!al.ished network'df th&ocmpanY has ena. The risk ofdetayed payment Il'OmSTU's lscontrolled anc. Some STUs do not agree 10 tread prices beIng indexed to prIces of raw to m!. In ease affixed price. Unexpected increases however do affect pro(ttability till prices are revised meet the increased costs . poses abig threat to the indUstry as a w.. • Changes in governments policies: Cilanges in govefflIDent pelic es can at tlrnss materially effect company's financial position or il'lveslmentS:There is tittle that can be done about It. contracts. Increa.continwously undertake research to RmprQVethe tread com pOUJ'ldsV>(hicl:l ean perform better and red LIce costs. 5 . Ac. We believe in eml')awerlng our employees throlllgh greater Knowledge.

isapPeAded hereto as An n exure -I an fOrms part ofthl$ Report.e. The requisite certificate IJ/nde 'Section 224(1 B) of the CampaniesAcf 1956 hastbeefl reeeived from1:hem.ed thereto. S.RONMENT PROTECTION Anti ~t1uliO'n systems are fully illstaJled and ope rCltio1'1 al..ure and preservedhe environment are pursued.S (Disclosure. A . Planl\ed periodic reviews are earrled eut !'e~ultlng In identfficatlon of c::onlfol deficiencies. DIRECTORS In aocordanceowi\h Atticls 89 oi the Artic1esl(jf ASSQ'(. RESEARCH AND DEVELOPMENTfTECHNOLOGY ABSORPTION/FOREIGN EXCHANGE EARNING AN The inrormatfon to as disclosed under Seetion 217 (1. The externa~ auditors have eva1uated toe system of internal controls inthe QolTlpany and l't~ve (eported lhat-Il"e same is ade(jJuateand commensurate wlth the size of the Company and the nature ofits buslness. read with th Companies (Particulars of.il. Mr. As on March 31. offer themsefves for re-app0mlment.. retire althe conclusion of the ensuin Annl. regarding employees is given In Annexure II.Batlib0 I·&Gil!TI pa ny.S of Corporate Governance as stlpulated in clause 49 the listiog Agreerhenlls anne. offer themselves tor re-alQPoiritment. P~rameswar a'ld Mr.11l view of the numerous advaritages offered by the Oeposll:ory system. 2Q11 total of 1677245 equity shares whlchf0rrns31 J~5% ot1he snare capital stands dematerialized.oli Particulars in the Report of 1he Board of Directors) Rules 1988.0012008 standards at Nalagarh plant and Head Office.eof1l.. ENVI. Th B0ard has recommended to reappsint Mr. H. LISTING OUTGO. S L KhemKa of will retire from omc~ by retanon. CORPORATE GOVERNANCE A separate repert an Corporate Governance is inc! uded in the Annllal Relflort and Ihe Certificate from the practicl Company Secretary cortfirming cemptlance wltfJthe.r Company are being traded [n'electronlc Formand the Oernpany has esfabli!:>l')ed connectivity WI both the depOSitorIes I. Chartered Accauntai'lts. Mr.condltloh.jlNOAG1 Independent internal auditol'S'coridUc1 audltcollering a wide range of operational matters and enSlJreCQmpn~nce with specified standards.re Board 0f Directors.K KKapur will vacate the Glfflee ~fwt"lole Time Director on 31 m May 201 1. AUDITORS' AUDITORS REPORT Ina ebservatlons of the Audl\G1rsare seff-explanatory and. and being eljgibl~. opportunities for brid9in!J gaP$ with best practicea The Ifindings of Intarnal auclft are revj~eQ by tne top anagement and by the.ll General Meeting and being eligible.equested avail the. COMMITMENTTO QUALITY Irndag recognlze. do not call for any fUrth~ eornments.:iation the Company. Continuous etfort~ 10 nurt.Quisite lor its operaliQ1ns aad has trnplemslIlted ISO 9. PARTICULARS OF EMPLOYEES tnformatjdTl in accordance with the provisions of Section 2H(2A) aHhe Companies Act. faCilitY of dematerialization of the shares all ejtb~r p't tl1e Depositories as aforessld.Employees) Au les 1975 as amended. Pursuant to the terrns ot appointment.K K Kapur as Whols Time QirectQr far further period 0f five years on tAe terms and cend!tionsasset out in the nalice . 1956. Yaur Company Is listed withthe Stock Exchan GJesofMumbal and Oell'li. DEPOSITORY SVSTEM The sharaaof YOl:J.x.)(8' of the Companies Act 1956 read witl1 the Compani. 6 . Audit Commltte. The AUsltors of the Company.s quality and prodl!lcti'vlty as a prl7l-re. National Seourlties Depository Llrntted (NSDL) and Ceritral Pel1lMltory Services (Ind~ Llmrted (CDSL}. Iflertrjbers are r.

atf(:mand industrial relatjons. They believe that the Financial Stateme:rtts reflect 1airly. descr-iblhg he Gom~any'5 objectives.ectors had prepated the Alinual Accounts ona.{.NDRd! MANAGEMENT DISCUSSION &: ANALVSIS REPOA The Management [}lScussion ar'Id A n'a1YStS Report. Thal1he Dir. II. The Company's Infernal Auditors have conducted pericilific audits t@ J:lrevide reasonable assurenee that the Company's approved poHciSSand pr(loodures have been followed. cnanges fnll'le Gavernment polioies. awilablJity of inputs and their prices.9 oftt)e IIstlngagreement.R~ which may undergo changes 1n future on thabasis of sUbsequent develmpmentS. 2011 7 . The Company assumes no ~esponsibil!ty lnrespeet of the forward. Tl:!e acooonting polities as dlsctesed In Annual Accounts are eonsistently a]:lpli. For and en behalf of the. by witI1 in various sections at this Report CAUTIONERY STATEMENT are:already dealt Statements in this report.tent ludgment and estimates are made so as to give a trU&"mdfalr view of the state of affairs ofthe Cer:!ipany at the end of111e F'lnanclalYear. Ine form aM substance ot transactions earned 0ut dLJrin~the yea. tax laws. r9@u!ations.tions inolude global and domesflc sUQPlyand demand eondi:tlons affectlng selling prlees of ffhished goods.. pruc.goin9 eencern basis . That the Dlreetars had tak-en proper afld sufficient cafe or the maintenance of adequate accounting r-ecords In accordance with the prollfsians of the Act for safeguan:!ing the assets of the Cempany and for preventing and detecting fratJd and o't:herirtegularities. suppliersahd the Company's employees at 811 levels.tble.looklng sta1eA1El. Mtuaf OrRECTOf!'S RESPONSIBILITY STATEM E:NT Your Directors wish t"0 In'~rm Members that the Audited Accounts conlaining FinanCial Statements far the Rnaneial Year 2b1 0-11 are in oornformlly with the requirements of the.r and reasonably present (he Company's finaflQlal candftlon. expeotatlons and/or predletiens may be forward lool<:ingwithin the meanlng()1 t. Companies A'ct. cuSfemers. Your Directors further confirm thai: L In presentafien aiflheAnnual AcCount~ applicable Aooounling Standards have been followed. . information or events. lmpcrtant factcrs that CEluid infJuens. BoaId INOAG RUBBER LIMITED NAND KHEMKA CHAIRMAN New Dell:ll CUM MANAGING DIRECTOR April 18. as r8:Ci!uired olaus.stated if) the statement. ecenomic deve.and results af operation.e the ooffipan¥'S opera.lopments within theeountry and owlsida and 0ther (actmssuch as liti ~..ec:land reason. Iv. APPRECIATIONS Yeur Directors also wish le pla~ on record their appreolation for the oontinueus ~l!PPQrt receIved from the sh~reholders.l. W56.e4. iii. results may differ materially from those:.lpplicable seourltieslawand regulations..

. G0rftfn~l3l1y Updates techflO[QgYJ and greater emphasis istaid all indigenisation and cost technology absorption. (B)TECHNOLOGY ABSORPTION: E#erts made 10te.me DeslgnatJon Commencement Experience &: Nature of GlOSS (Rs.S and MB:A 1 April 2010 Kheni~a Managing blrector Direotor K. Research and Development.0. Benefits derjyed as a. ANNEXURE·II PARTICULARS OF EMPLOVEES (UNDER SECTION 217(2A) OFTHE COMPANIES ACT. which suit Indian road condH. Kapur Director & CEO Mathematies. efforts e. Bforts.aJ year whieh has resulted In the reduction of overall electrical energy and fuel consumption per Ion of pr'Oductien. TECHNOLOGY FOREIGN EXCHANGE EARNINGS AND OUTGO AS ~EQUIRED UNDER THE COMPANIES (DISCLOSURE OF PARTICULARS INTHE REPORT OF BOARD OF DIRECTORS) RULES. A) Ge:{elopmentof new desi'Qf'jS Bl'1d products. product improvement. (C) FOREIGN EXCHANGE EARNINGS AND OUTGO: Activities relating to export. _ Inn6va1ion Specific Areas j n which R&D is carried aut by the Company are. in brief.'perted durltm last five ye~..st Na. product d!evelopment.76. 05 Iaos. made towards The Company being quallty conscious.010-11 eRs.39 26. (A) CONSERVATION OF EN ERGY : DISCLOSURE ABSORPTION AND OF PARTICULARS The company has implemented various energy conservation measures during the finaMI.Qnnology absorptiona~given in prescribed Form (B) annexed.ANNEXURE-I WITH RESPECT TO CONSEAVAnON OF ENERGY. 2. No technology.ln lacs) 239.05 Foreign Exchange used 148. Whole-TIme Masters in 63. 2 (b) Tota! Foreign Exchange used and earned: 2. Dur In9t heyeart he Companyo' has expor f e d retreading matenaJ of HS.g made btl the Company to develop improved tread quality and designs.logy pertor(flanGe characteristics. lnferm atl on regard in9 techno.) Employment years of Emplovment (Years) Outles Nand.47 FORM.. ADAPTATION AND INNOVATION 1. ICWA 8 . Ltd. development of hew expert market for products and services and export plana. 91.result ofttJe above We continue 10be in ~ position to offer our Indian customers a better and morequaHtati'l~ services in tne fiels0ftyre retreadinQ. 1988. TECHNOLOGY ABSORPTION. initiatives taken to increase export. adaptation and reduction. cost g reduction. Import ~vaLua1ion and introdtlotion of new raw materials are regularly carried substitution elc.ln lacs) Forlsign E:xchange Earned 291. .875 M. 1956 READ WITH THE COMPANIES tPARTICULARS OF EMPLOYEES) RULES 1975 Date at Total Remuneration QualificatJo ns Age in La.86 Sustained R&D efforts are beh. Particulars RESEARCH AND DEVELOPMENT 2. oulto offer specific property lrnprovernents and thereby to achieve: improved product performanoe. as such.09-10 (Rs.lons.K. has been h. imported during last five years.B (See Rute 2) Disclosure of partleulare with respect to Absorption.ve quality ana cQnsiStency Gf1hs_ product. b) Process changes to further inlpra. New patterns are developed and Introduced ta obtain specific 3.68.448 En rem 9 April 2001 50 73 India PVt. Chall1'l'lanclim 50 75 Promoter 75.

Kk. of membership in Committees (Including INDAGJ Member Chairman Mr. Agenda papers along wfrth notes were elrculated 10 Ute Directors in advance of each meeting. {Inl~stedl NOrT-E.Nand Khemka Status Ch'alrman (Independent) Member (Independent) Member (Interested) No./INDAGj REPORT ON CORPORATE Company's Philosophy GOVERNANCE on code of Governance The Company recogni:?es the lmportance of goOd Corporate ~overfilance.KhefTlka Eiecutive. (Independent) EXe.Nil (ir:)tetesled) Non-Execulive.Hile'ldra Non-Executive. whiGh InGlude two exeeu lve-directer Mel four ncn-exscutive dllrectors as on March 31 .from tlr(le to urne. 201 O. The terms of reference of Audit Committee covers the areas mentioned under Clause 49 Gf the Listing Agreement and Sectien 2. suppllers. November 9 2010 and J'anvary 192011. Th e cmnposilion of1he Audit Committee and details of their attendance atlhe meetings are as follows: Name of the member Mr. Par81lileswar Mr. 1956. 1 Nil 9 4 Yes Yes 4 1 Non-Executive.-ecutiVe. {Interested) 4- Ye. and aoMievlog the definite and rneasurable pel10rmance targets.r) P~of. J~ly 30 2010. '(IndeRe!1~nt) .S. of Other Directorship Held in Public Companies No.a Mr.cuffve. Which Is a tIDolf0r blolildii:lQa stro g and ever"IEisting beneficial relationship wllh the eusternera.atthe No. November g.e were held during the year EII1 April 14..at the Board Meelings and at the last Annual General Meeting is given below: Directors value executivel ExecutlvelNon· Number of Board Meetings attended Independent last AG~ held on July 30 201() Atlendance. (independent) NlI Wadliwa No Nil Nil Nil f0ur meet!lrrlgs of the Board of Direct0rs were Iileld during the year. NandKheml<. All relevant Information as required under Glaus!:! 49 of IMe Stook Exchange Listing Agreement was placed balere the Board. bankers and more importantly with the Investors. I.s No 1 Nil 6 11 1 Nil Mr. 4 4 Nil Nil 2 1 Yes . viz on April i5 2010" July 302010.R.and January 19 2011 . The oornposltton of Board with thelrattendanoe. BOARD OF DIRECTORS The Board comprises of six directors. of meetings Attended 4 4 4 9 .P. Feur mee~lAgs of the Audit Commltte. The COfJllpany believes that Its ke-y deeisfol'ls must serve the under~ying goals of enhancinq sharenolders over a sustained period of time.L.RIParmeswar Mr.AUDIT COMMITTEE The Comrnlnee comprises 0f two non-executive directors and one executive director having ttnancial rnanagarnent expertise. PH Khanna Mr. 2Q10.Khanna Mr.kapur (Whels-tlme DlreGte.R. 2011. II.£l2A of the Companies Act.

nollce fee opti(!1n details. whIch is generally applioable faws. In lacs) the 2:010-11 -All elt. along witlil partarmance Fixed Service contracts.e. salary. shares and convertible Instrumen Number of :1 tsheld 2009-10 Brother ofMr:.91 - - a..00000 3.) if Mr. Mr. pension etc. Stock options to lis Directors or Employees.1 (Rs ) CommTssioTi paid for the year (As.2011 tor a period of five years. Commission is paid at the rate not exceeding one percent of net pfoffJs of the company calculated in accordance with the prOVision!? of section 19B.60.9 on either side.K K Kapur will b reappointed as ttle Whole TItme Director w.000'1 80.48.18 lacs as bonus forthe year 201 O~2ti11. The distrit)!Jtlon of the Commission :aJ1l0flgst the Non Executive Directors is determined by the Board and is broadly on contribution at tile BOClfd meetfng andvarieus Committee meetings as well as time spent on operational matters. bonuses.k. Nil 201U-11 Nil Nil 4O.000 6. If any Business with the Remuneration paid during (Rs.xeeuti~e dltectbrs. b. Khanna in line wfth the exlsfil'l9 ifildustrY practice and Status Ohairman (lnt~(ested) Member (Independent) Member (Independent) A Non-Executive The remunerafion of Non Executive Directors of company is decided by the Board of Qir6otprs. 349 and 350 of the Cornp~nies Act. R. . The B~ard has approved paymei1t of Rs.15. 1966.000 Nil Nil Nil No severance fee ts payable to 1I10n.001. K.= =~ /'NDAd! r III. StOCk peried.~9 59. Whole Time Director Executive DIrectors Relationship with other Directors relationship company. The Non Exeoutlve Directors are paid rernuneratiolil by way of Commission and Sitting fea In terms of the approval ofthe members at the 30th Annual General Meeting of the company held on JtJly 22.000 6. REMUNERATION COMMITTEE The Board has framed remunetation poliGY.P. The Oompany does not haveal present any scheme forgrantol c. Nam!i! gf the memb!itr Mr. Hitendra Wadhwa Nil Nand Nit Nil NU Nil Nil 1.000 Nil the Company.Jmen1s remuneration Qf paCkage 1. S.Earameswar Prof. Nand Khennk-a Mr. Kapur Nil WhQfetime Director 63.LKhern~a anv. 10 .Mr. 500000 5.R. at the rate of 2°k of profits betora tax earned by th company.Ulloe 1.OOQ Nil Khernka Mr. P.000 2. benents.2009.Oa. Whole Time Director is entitled to J:jroflt sharing bonus. R. Directors I Directors Relationship with other Directors relationShip wHhthe compan Business Sitt'ny fee paid dUring 2010.B.RKhanna . sevarance if any criteria Mr. 28.o( e B. Parmeswar Mr. oomponent performance linked inc-entives. The aii>l¥'in~ment is subject to termination fly one month notice In writin.

B Jl Company Secretary as 1he Cornpllance Ottlcar.e. lime and venue 01 the three previous Annual General Meetings. 2006 TIME VENUE Sal lntemauonal Ce Pragatl Vlhal. Warning against Insider trading Gompreher:1sive ~uidet1nes advising and cautioning the management. SHAREHOLDERS COMMITTEE oum Managl n9 Director w. Lodl Road New DeIhl 110003 Sao. 20'10 10:00AM 11 . severance fee etc. GENERAL BODY MEETINGS The dates. performance salary.77 termination by one month notice In writing on eitha( side. AGM . The-appointment Brother of S. Mr. 2009 10:00AM 31~AGM-30'" JULY. 2010. benefits. Lodi Road New Delhi 110003 - :to:OOAM 30n.MANAGING Executive Directors DIRECTOR Relationship Business relatIonshl with the Remuneration p with other Directors paid during the"''' (Rs.22"" JULY. V.f. along with pertormance cnterla 75.e. anI:! has been appointed as IheChairmall b. bonuses. pension Rxed component & linked Incenfives.63 Mr. In lacs) company. Mr.April1. if any All elements of remuneration package i. The Soard has designated Mrs. Nand Khemka is Chairman of this Committee. staff and other relevant bus associates on ~he procedure to be followed while deanng wttn the securities 01 the ccrnpany have be Sf' and implemented. Lodj Road New Delhi 110003 Sal International Cen" PragatiVlhar. ServIce contracts notice period. Nand Khemka a. ot have at present any scheme for grant of Stock options Loits Directors or Employee= The share transfer and shareholders grievance committee looks Into redressing of shareholders and In as grievances. Manall D. held during the last three yea s given pelQw: DATE 29'~AGM.L Khemka is subjeello Managing Director 75.I C. The Company does IV. tntemaucnal Ce PragatfVlhar.30th JULY.

been passed by the members by snow of hands.01 1 to 9~' August 20 11 (Both dates inoluslve) 161/> August 2011 The Stock Exohange. Mumbaf are as under- 12 . However no personnel have been deAled access to Ihe Audit Committee.remef\1s of this clause have not yet been adapted. 2011 there were no m aIerially transactions that may have potential eonruot with the lnterests of COJnpany at large. The results are also puplished in "Business S1andard" (English andHlnSi).. Asaf New Delbi 110 002 (vi) Stock Code ISJN under depes1t0ry system The-Stocl< E"Xchange. 151August 2.Lo p~ice on the Stock Exchange. tha91J)August 201 1 at10:0Qam. ihE'ilrewas no trading of Oornpany's securitiel at Delhi Stock Exchange. VII. VIII. Mumbai Phlroze JeejeebhoyT6wers. Sai International Centre. t.There is no proposal at oresentto the postal ballot eX'9rcise for passing resolution. Murnbai 400001 (iv) Dividend Payment Date Deihl Stock Exchange-Association DSE House. In Ihe previous th~e AGMs speeial resolution hava. Pragati Vihar. The company has not armauneed any fmmal WhiStle Blower polley. The company has complied with all the mandatory requirements of clause49 of the listing agreemeillf. coneuet VI. Mumbai The Delhi stock Excflange(vii) Stock Marke Ali Road.RDAd! N0 special resolutions were put through postal ballot inthe last AGN'I. Dalal Street'. Fort. GENERAL SHAREHOLDE'AS INFORMATION (I) AGM Date. MEANS OF COMMUNICATION The quarterly and full year finamcial results are sent to the Stack.year 1h • By mid of Au~ust endi'ng 30'" September By mid of NQvember By mid of February Foryear ending 31') March Bymid of May Annual Gene ral Meetin§ for th~ year ending 3 i" March (iii) (v) By mid of Se~tember Date of Book ClOSUre LIsting on Stock Exchanges . New Oelhl-1 . time & venue : Tue$day.edi Road. DISCLOSURES During the financial year ended the 31 01 Marett.I '. However non-mandatory requ. signiilcant related party No penalfies last wer'9 imJilosed nor were any strictures passed on any capital markets related matlers during the three years. . The details of monthly 'High and. Exchanges at Dell'li and Mumbai WMere thE snares of the-CernparlY are listed. OOO~ (if) Financlal Calendar & Flnancial Reporting For 1"' quarter ending 30 June For halt. Limited INE802D01015 509162 3939 Pries data During the year. 311.The Management dlseusston and analysiS report forms a part of the Directors' Report.

As 011 March 31.5 ~6.:ematerlallzati01'1 of securities.93 1.13 5492 5a5QOOO 100 13 .94 % in total ie soc 5188 146 8.90 92 86.otequity shares he'd Number UP Sharehorders % of Shareholding % to total 94.22 0.37 0.35 100 Total shares 442424 11847:9 101258 71673 40274 31555 185188 42591.20 0.43 2.51 0. The Company has appelnted Skyline Flnanolal Services (P) Umfled as Registrar and Share Transfer Agents for physlcallra11sfer of securities as well as dernaterlallzaf oni r. New Oelhi-11 00.05 83.) on aSE 98.25 105 103 101 97.46 .13 0.4 95.6 97.1 80. Okl'1la Industrial Area Phase-t.9 115.05 92 Number of shares traded 1S83a:3 78020 833g48 368954 146728 174557 114246 218040 115.reholding No. lOj Floor.011 Pebruary 2.20 59883 80317 37565 37510 (viii)· Reg~sttar& Share Transfer Agents (Ix) Share Transfer System In order to expedite the process of share transfers the Board has delegated the power to approve share trans1ers to senior executives.1 86.9 111.IINDA"7 Month April.~ 114 113. 2.66 1.)01and 'above Total 67 28 11 7 26 19 0.47 0.5 114. who attend to share transfer farmalitiEis fortnightly.) on BSE Monthly Low Prices (Rs. 2011 - (x) DistribUtion of ~ha.26 1.011 March 2011 Monthty High Prices (Rs.60 3~53 81.77 501 to 1eOO 1001 to 2000 2001 to 3000 3001 to 4000 4001 to 5000 5001 to 10000 10(.50 Skyline: Financial Services (pi) limited D-153JA.8 118 104.1 91 97.2010 May 2010 June2010 July 2010 August 2010 September 2010 October 2010 November 20110 December 2010 January 2.

HadbastNo. .. with National Securities Dep0sit~z Central Depository Services (Ipdia As on March 31. request far Dernatertallsetlon of snares. tllvidends.(lndia) j Vll1ageJhinwalCl..the bank account details flJmishsd by the depositorIes for depositing.16 0 44. Phase-t . (xiH) U1'1Ioialmed DIvidends The Companv is required to trransfer dividendS which have remained unpaid lunclaimed for a period seven years to the Ihvestor Education & Protection Fund established by the Government. 1'. Accordingly.2011.89 D. the Company will send Intimation to shareholders whose dividend warrants have not been encashed. a total of 1677245 equity shares whict forms 31 . Industrial Area Bhiwadi 301019. ECS credit will be moved completely on NationatElectronlc Ctearance System (N EOS) platform th rOLlgh core banking system. C (xlv) Dematerialization of shams Shares dematerialized Umited (NSDL) and Urnited (CDSL).37 100 (xii) Payment of diVidend through ElectroniC-Clearing The Securities and Exchange Board of India (SEBI) 'has made it mandatory for all cernpanles to use. Shareholders are requested to revert tp the Company If they have nC!ll received'! encasned the dividend warrants. effective from September 30. Okhla Industrial Area. dividend will be creclfled t the shareholders' bankeecount throu~h NECS where complete core bank:ing details are aV(.Alwar Ralastl:!an. of (xv) Ptant Location Plot No.29 0. change of mandates! address arany otharquery Skyline Financial Servrces (P) Umited D-153/A. 2009.lilable with the Company. or Where the core banking account number is not furnished by Ihe shareholder to the Depository/Company as the case ma be. of Shares held 1687965 0 & their relatives Institutions 2357002 & Banks UTI/Financial 2()SQ 120458 16654 BodY Corporate NRI/OCB Foreign Institutional Imdian Public Total Investors 48819 1017062 5250000 Servioe: 19.86. The Company is complying with SEBl's directive In this regard.04 2.73 (HImachal Pradesh) (xvi) Address lor Correspondence Nalagarh District Soiai"' (a) For Transfer 01 physrcal shares.As per tAe recent RBI guldel nes. In the event any branch of a bank has not migrated to core banking system. -2011 % of Shareholdlng 32./'NDAGI (xi) Categories of Shareholdlng . The Corn pany wJiR nat requiretransferring any unclaimed dividend1:o such fund_ As in the past. the Company will print the details available In Its records on the dividend warrants te be Issued to tl1e shareholders. Dist. As on Maroh 31. New DeJhH 1 0020 14 .93 Category Indian Promolers Foreign Directors Promoters No. Floor.950"( the share capital stands dematerialised.320.

of opln ion on the financial statements of the-Company.: (011) 26963172. the company To The Members of Indag Rubber Umlted We have 9X'amined the compliance of conditions of corporate governance by Inda:g Rubber limited. 2011 & ASSOCIATES Secretaries S K Jain Company Company Seoretary C. For S. The compnance ot condltlons of corporate governance Is the responsibility of the management.agement has conducted the affairs of the Company. We furtl1er state that such compliance is neither ail assurance as 10 the future viability of the Company nor the efficiency or effeetiveness with which the mar.-nenL We state that no investor gtlevanoe is pending for a pence exoeeding one month against 1I1e Company as per ~fle records maintained by the Shareholderss Investors Grievance Committee. COMPUANCEOFCODE OFCO DUCT Indag RubberUmlt~d 11. It is neither an audit no r anexprasslon. 2011 as stipulated in clause 49 of the Listing Agreement of the said eompany with stock excnal1ge(s). adopted by the Company for ensuring the compliance of the conditions of the Corporate Governance. Community Center. In our opinlon ClAdto the best of our information and aocording to the explanations given to us. 26003173 It is hereby declared and confirmed ttlatalllJ"te Board members and senior management of have complied wIth the Code of Conduct fortM periOd from 1'" April 201 Oto 311 "MarcH 2011.K. we e&rtity that the COlTJpany has complied with the conditions of Corporate Governance as stipulated In the Ustmg Agree.JAIN Place:New DelAi Date:Ap~iI 18.2657 15 . fer the year ended on Mareh 31.P.No.IINDAU! (0) For any Invester grievanee The Company SecretarY New IX. Our examination was limited to procedures and Implementati0n thereof. Sakat [)alhi 110017 Phone no.

965 139.338 128.636 486 308 470 695 676 16 .200 253.27 33.373 297.120 211 836 11.45 0.08 14.751 440.665 60B.) (II) SALES 4.49 11.339 2.01S 74.75 9.02 0.38 39.692 520.852 36'0.00 22. (MT) USC ( K.022 19.522 110.167 2.520 55.72.16 32.736 107.444 1441314 264.4G9 1231975 274.878 - lAs.837 133.237 119-.CORPORATE INTERNAL GE.758 I NET WORTH PER RUPEE OF PAID-UP CAP1TAt (RS.04 4.05 10.849 7.52 0.a2-7 147695 123.112.'332 133.116 244.) BORROWINGS TO NET WORT:H (RS) EBIDTA TO CAPITAL EMPLOYED (%) PROFIT BEFOAETAX TO NET WORTH .849 713 CaTY.620 132.207 13.592 709 751 7.01 7.4 1.494.575 119..028 77.261 73.499 274.544146.274 10a.955 20QS-lD - 1.722 52.00 42.g11 12. Ltrs.4 16.096 13.69 33.528 284.1536 260 4. 181.G INDAG RUBBER LTD.284 90.00 14.761 440.436 269.767 202.76 38.4.13 20.225 90.500 79.857 44.20 31.238 11.174 460 323 7.913 76.411 113.000 1".314 4.956 .525 24.081 184.500 150.642 263.86 0.458 3.472 807 247 326 5.98 28.600 2:!JIlHUI (NET) 12.48 4.298 392.87 0.455 321 5.6.730 519 44ll.100 2§3.6Q5 34ft319 162.100 DIVlbEND TAX 1:3.4a 2.122 391.07 30.r ----' LINDA.305 - 6.059 3.653 101.( % .43 3.245 739.) PROFIT BE FOR E TAX TO SALES (%) EARN ING PER SHARE CRS.:Q[! !iH!i 52.500 52.495 104.284 96.674 167.867 168.401 535 Pracured Tread Rubbar (MT) UASG (Including Envel0pes) (Mn USC ( K.245 261.213 14.006 99.84 10.} 487 285 PrecuredTread Rufitw (MT) URse (Including Envelopes).71 22.6415.778 3.52 2.605 1.605 520. '7 2~.2 443. 'DOOJ 2!l:11l-1:1 52.026 72.600 2.38S 24.716 469.NERATION NET WORTH CAPITAL EMPLOYED ( B ) FINANCIAL RATIOS 61 02.491 3.327 16.) DIVIDEND PER SHARE (AS.112 11.724 283.500 308. 245.957 284.923 5.13 0.16.) DIVIOt:=ND PAYOUT RATIO (INCLUDING DIVIDEND TAX) 2. ltrs. FIVE YEAR PROFrLE ( A FINANCIAL T 7 1 PAID-UP CAP'ITAL RESERVES & SURPLUS SECURED LOANS UNSECURED LOANS DEFERRED TAX LIABILITY ~!lDti·IlZ 52.86jl 14.758 - REPRESENTED BY : GROSS BLOCK LESS: DEPRECIATION NET FIXED ASSETS CAPITAL WO RK~IN-PROGRESS CURRENT ASSET CURRENT LIABILITY NET CURRENT ASSETS 11.8a 5.00 0.202 136.466 28.960 74.067 42.62.00 16.54.5'65 252.~79 172.68 ee) PHYSICAL (I) PRODUCTION (an) 4.758 SAlES EBIDTA DEPRECIATION EBIT & AMORTISATION INTERIEST TAX PROFIT BEFORE TAX PROFIT AFTER TAX DIVIDEND INCL.SS5 - 8~.245 76.6'6 412.739 4 721 446 7.12 6.148 86.) 4.432.4 22!ii.569 132'063 126.724 761.455 274.243 222 2€l4..761 12.25 8.933 115.43 13.641 4.206 520.00 2123 8.448 137.


2011. Act'. I. ofthe.of material misstatement An audit lncludas examining. em vi. the J.iaid accounts give tne . Our responsibility is to express an opinlen on these financial statements based en our audit. proper books of acbOun1 as required by law have-been kept by the Company so far as appears from aurexamiTlation oftliose books. we enclose In the Annexure a sfatement on the mattel% spec1fiedin paragraphs 4 and 5 oJthElcsaid Order. Chart.eneraUy accepted in India Those Standards require Lhatwe plan and perform the audttto obtain rsasoaab'e assurance ab. iiI.2011. ii. the balance shest. we report that 4. we report that none of the directors is disqualified as on March 31. These financial statements are the responsibility of the Company's management. BATUBOI & CO. 2011 and also the profit and loss account and the Gash floW' statement for the year ended on that date annexed thereto. statement dealt with by this report campi).outwhethertinefinanciaJ statements are free. Gurgaon Date: April 18. We belil. As rE1_quiredy the Companies (Auditor's Report) Ofljer.nfermatian required by the Companies Act. AUDITORS REPORT TO THE MEMBERS OF INDAG RUBBER LIMITED t. 20 11 18 .fId giVe a 'true and fair view in eonforml1y with the accoun1ing prtnciples gefler-ally accepted in lndia. on a fest bas's.and bElclief ere w necessarylorthe p. v. 1956. In our opinion. ~003 (as amended) issued by theCentraJ Government of b India in terms of sub-section (AA) of Section 227 of the Companies Aol. We have obtained all the informatl~n and explanatloms. of the cash flows for the year endetJ on that date. in the manner so required a./INDAdJ. On the basis Of the written representations received from the directors. ina 3. and taken on record by Ine Board of Directors.wethat our aud~ proVides a reasonable bssls lOr our opinion. profit and loss account and cash flow statement dealt wIth by this report are In aqreernent w.6. We conducted our audit in accordance with auditing standards g. iv. 1956. profit and loss account and cash flow. b) in tMease oftheproflt and lossaeccunt. In our onmlon. We haveaudlted thearteehed balance 0f Inda~ f{Ul. sneat 2. as well as evaluating the overall financial statement presentation. a) in the case Ciftt)e balance sheet. as March 31. 1956. and c) in the case of cash flow statement. An audit also Inc!udes assessing the accounting principles used and slgnifi~nt estimates made by management.wledge. :301 OOSE per Anti Gupta Partner Membership No. otthe prain lor the yearended on that date. In our opinlon and to the besr of our lnformation For S.urpeses oteur audlt. wittl the aooouliting'stal'llqards referred to in sub-section (30) of Section 211 oHhe Companies Act. The balance sheet.ith the becks otaecount. which to the best of our kno. evidenpe ~upportlhg the amounts and disclosures in financIal statements.: 87921 Place. Fu rther to our comments in \Me AnnexUre referred to above.R.!ber Limited (The Company') as at Marcl'l31.state of affajrsof'~he OolTlpany as at March 31.ered Acoountants Fl rrn's Registration No. 20'11 from being appeinted as adlrector in terms of Clause-(g) ef sub-section (1) at SectiQn 274 aftha Companies and according to the explanations given to lis. 195.

Investor education and protection fund. No material discrepancies were noticed ORsuoh venficatJon. excise duty. the provisions cif paragraph 4 (ill) ~a). are as follows: wealth-tax. 1956 tor 'rne prodUcts of the (ix) Company. firms or other parties covered in the register maintained under Section 301 of the Companies Act. fo tile purchase of inventory and fi)Cedassets and for ltle sale of goods and services. All fixed assets have not peen physloally vertfied by the management during the year but tilere is a regular program of verification which. -(vii) In our opinion. excise duty and other materia! statutory dues applicable 10 it Further.915ter aintained under Sectlon 301liall9 been so entered. lnvestor education and protection fund. There was no substantia! disposal of fixed assets during the year. (viii) Te tMe best of our knowledge andas expJaihed. the Company has an internal audltsystem commensurate with the size and natlJ re of its busmess. €ustoms duty.lafe in relstlen 10 the. (0) and (d) of lheCompanles (Auditor's Report) Order.undlsputea statutory flues inlGluding proviaent f\. wealth tax.noticed on The C"lInpany has nat granted any 'loans. Durfng the course of our audit. major weakl1ess has been noticed lfit the Internal control system In respett of these areas. (b) The Company has not faken any loans. we ate not in a position to commenl upon the regularity or otherwise afthe Company 11'1 depositing the same. w(} have not observed any contrOlling 'aIlU~e tp oorrect major weakness in internal control systern of the Oornpang. in our opInion.md. @rvice tax. thera Isan adequate internal control system commensurate with tna size df the Comp'any CI. During the course of cur audit. secured or unsecured from companies. at the year and. rir~s or other parties cover-ed in the register maintained under 819clion ~01 Ciif the Companies Act. sales-lax.slze ofthe Company and the nature of its business . the dues outstanding of Income-tax.nd the nature of its business. clauses 4(iii~ (8) to 4 (ij0 (g) ohhe Companies (Auditor's Reper I) Order. servteetax. 1956. Including quantitative details and situation of fixed assets. ililoome-tax. no undisputed arnounts payaple In respect of provident fund. (b). (IV) (v) In our opinion and acoording to the information and explal1aliCilnS gIven to us. 1956 and as such. is reasonable havrng regard to the size of lIle Company and the nature 01itsasse1s. m (b) In our opinion and acoording to the information and explanations gillen to us. we are of tlie opinion \hat the partlculars of eonnacts-cr arraogements referred to In Section 301 of the Mt 'that Aeed a. (b) Aocordif'lg to the Information aOd explana110ns given to us.Annexure referred to in paragraph Re:Jndag Rubber Umited 3 Of our report of even date (i) (a) (b) The Company 'has maintalFled proper records sho~ing . wealth tax. seemed or unsecured to companies. the Cent'ral GlJverillmenl has not prescribed mal ntenance of cost raoords under clause (d) of sub-seetlon (1) of Ses!ion 209 of the Oornpanles Act. t~e transactions made in pursuance of such contracts or arrangements exceedll1g value ot Rugees five lakhs have been entered into during the flnanGiaJyear at prices ~hich are reasonable having regard to -the prevaiIJng market prices at the relsvantfirne. employees' slate Il1suranC1il. (a) The Company' is regular )'0 depiilsl1lng with appropriate authorities. customs duty. customs duty. exc\sedutyand cess on account of any dispute. (b) (c) (iii) (a) The procedures of pl"iysieal wertflcation of inventory followed by the manage(i:lent are rea:>onableand adeql. (0) 19 . 2003 (as amended} are n01 applicabfe. were. were outstanding. no. fvi) The Company hasnot accepted any deposltstrom the public.raeords of the Oompany. (a) Acoordlnqtothe infOrmation arjd explanations provIded by the management. year. sates tax. since the Central Government has IiII date not presqribed \:he amount of cess payable under Seetlon 441 A of the Companies Act. 1956_ Therefore. sales-tax.o be entered into fhe r~. The management has eonduoted physical verification (c) (ii) {a) of inven16ry at reasonable In'lervals during he. six According to the.full partrculars.• The Company is maintalniAg proper records of Inventory and no material discrepancies physlGa! verification. 2003 las amended) are hotapplloab!e to the Company. service-tax. employees' state Insurance. tara period of more thar:1 months from the date they became payable. cess and other undisputed statutory dues.income-tax.

BAnJ801 8. 20QS(as amended) are not applicable to the Company.R. ara nofapplicable to the Company. (xl) Based on au raudit procedures and as per the jnformatjon and explanaUons given by the management.J res and other secu rities. Chartered Accountants Rrm's Registration No. SSMCB Tax Appellate Tribunal DeputyCommlssioher.700 thousand from the Company's bank account to-the bank aceourrts of tour individuals. (xli) According to the information and explanatfons given to us and based on the documents and records produced to us. Aocordi ngly. out of which RsAoo thousand were recovered before w1thdrawal from these bank accounts of individuals. The Company has taken up the matter wltlrl the bank for the recovery of the balance amount and considered the amount asf uny reeovera.111 Th e Company has no accumulated losses at the $I'ld of tJ1efinancial year and it has not incurred cash lceses In tM current and ImmecUately preeeding fil'lancial year.915 193 Perio to Relates hlch Statute InoomeTax Act. (xxi) We havebean Informed that there were fraudulent electronic Iran slersof Rs. the provisions at clause 4{xiV) of the Companies (Auditor's Report) Order. Therefore.ble. (xix) The Company did not have any Qutstandihg debentures during the-year: (xx) The Company has not raised any money through a public issue during the year. individUals in whose aeeount ttte balance IUI10001 Rs 300 thousand were transferred could not be traced and hsnce Itle balance amount has not been recov:ered. 1he!Company has not g ivan any gualantee for loans (xvi) Based on information and e~planati. The Company did not have any outstandIng debentures and loan from financial lnsfttution diJring the year. Coryumerclal Tax 1.: 87921 Place: Gurgaon Date: Aprl118. the Company is not dealing iftortfading In shares. (xiv) In our opinion.snota ohitfund ora nidlili f mutual benefit fund I society. 1956. 2011 20 .: 301f003E Per AI iI Gl pta Partner MemberShip No. we report that no funds talsed on short-term basls nave been used for long-term investment (xviii) The Company nas not made any pteferenMI allotment of shares to parties or companies covered in the fegisler maintained tinder Section 301 of the Companies Act. III l:IS. The. term leans were applied for the purpose for which the loans were obtained.I Nameofthe Nature of Amount (As '000) 13. dause 4(xlii) of fI:IeCompanies (Auditor's Report) Order. 2003 (as amended. we are of the opinion that the Company has 110t defaulted in repayment ot dues to any bank.onsgiven 10us by the management. Excise. (xv) According 10 the information and explanations given taken by others from'bank or fin~lf1ciallnstitutions. de b enll. 1994 (x) dues Income Tax demand ServiceTax Sales Tax theamount 1998·99 200&'07 20014-05 & 2005-06 Forum wl1ere dIspute is pending Deihl-High Court Custom. (xtii)lh ourep'nion. debentures and other investments. 1961 FlnarnoeAct-1994 Madhya Prades Commercial Tax Act. securitles.CO. (xvii) According to the information and explanations given to us and on an ave raJ I examination ef1he balance sheet of the Company. the Company has not granted loans and a_dvances on the basis of soourity by way of pledge of snares. For ~. the provisions of . the Company i.

605 N tes to Accounts 21 The schedLJles referred to above-includ!ng notes to accounts form an integral partof the Balance Sheet.081 184.ets dvance 1 2 52.K. Jain Chief Rnari.552 346..579 1'.761 72. Loans an Inventories Sundry debtors Cash and bank balances Other current ass.2.cial Officer Nand Khemka Chairman cum Managing Dlreotor Membership No. As per eur report of even date For and on behalf of the Board of Directors For R B :TL 01 C Firm's Registration No../INDAdj BALA CE SHEET AS AT 31s MARCH 2011 (Rs.758 52.957 440.: 301 003E Chartered Accountants Per Partner ilG pta nail D.1 Ion 10 248.306 ".722 80. CUI ren Liabilities Current Liabilities Provisions Net Current A ets nd Pro. '000) Schedule SOURCES OF FUrIDS Asat rcn 2011 As at 31st Marcn 201a harahol ers' unds Share ~~pltal Reserves and surplus Loan und Secured loans Def"6l'red Tax UabilltJes (oet) APPUCATIONOF FUNDS Fixed Assets Gross block Less: Accumulated depreciation I amortisation Net block Capital work in progress {ineluding capital advances) Curren sets.315 59.616 195.716 223.523 412 867 J 11 12 150.500 308.5QO 391.60:5 3 4 5 392.595 129.02.305 72.709 1.751 440.622 73.026 6.120 211. 2011 K r LJI CEO & Whole Tlrne Director 21 .116 244.854 211.6 73.956 181.238 11.048 18.31"9 1132.61 443.128 6 7 8 9 Leans and advances Leus .692 520.122 360.263 146. B'J1 nl Company Secr'etary J.836 11.068 168.040 469.305 4.845 12. 87921 Place: Gurgaon Date: April 18.

: 301 003E 21 :.(I.121. Rrm's Registl'atfoll No.914) 3.7322.674 B. arch 2011 1.19. B79~1 Place: Gurgaon Date: Apr1l1 a.04 Proposed final dividend Surplus carrled 10 Balance Sneet Earnings Basic & diluted (Nominal value of shares Rs.494.741 13 14 1.327 41112 11°021104 1. tJla.973 340.498 10. BATLIBOI & CO.620 7.113 4. K.525 232.MAT Credit Entitlement Add : Utilisation of MAT Credit Net Current Tax Deferred tax (credit) r charge Income tax adjustrnentfet earlier years Excess MAT credit entitlement of e~.366.343 63.265) (11) 28.100.48 16~.!8 r Balance brought forwaro from previous year Amount aVailable for Appropriation APPROPRIATIONS Transfer to genel!l' Interim dividend Tax en Dividend reservs 17 is 5 19 l.j Company Secretary .875 13.9.237 1.21>2 19.352 20.162 .458 27.325 182. (a ur CEO & Whole Time Director J.6n 2.(PgWious year Rs.914 (19.112.. The schedules referred to above includfflg notes te accouJ:ltsform an lnl~gral part of the Profft& Loss For and on behalf of the Board of Directors Chartered Accountants Per Anll Gupta Partner MembershIp No. (000) Sohedule INCOME Turnover (nef) Other income TOTAL 31st I\.4'66 (427) 427 &.760 7875 13.. 1.088 Year nded Year Ended 31 sf March 201 0 1.327 11.066 50.426 269. 2611 Mana i D.228 1.502.466 1115.762 consumed EXPENDITURE Raw materials 15 16 Purchase of traded goods Personrnelexpenses Operating and other expenses (Increase) in Inventories Depreciation I amcrtlsatlon Financial expenses rofit before ax Current Tax.904 (13.933 107.MiriifTIlJm Alternatiye Tax (MAT) Less :.1025 31Ej69 232."! 0) Notes to Accounts As per our report of eVen date For S.A.) 20 .965 8)-341 1./INPIfjG"/ PROFIT & LOSS ACCOUNT F R THE YEAR ENDED 31 st MARCH 2011 (Rs.304 136.!?OO) 16. Jain Chief Flnanclal Officer Nand Khemka Chalrm~n oum Managing DJrector 22 .509) 19.306 826.125 3386 305.736 153.CCOl!lnt.l0) per share (Rs.096 311209 (2.rlier yea(s written off Total tax expenses Ne raflt after 1a:x for the y(.130 '(S7.

DIvidend paid .756 9990 310 8.s and provisloAS working Cflpital changes l t 1 (2. 4 4 Less.803 109.01~.685) (60.756 '(Z.31 (3. BATLlBOI & CO. (236) acllvltles ACTlv.229 (29..SS-1 (9S. Bijlsnl Company Secre~ry J.lnts' -on fixed deposit Boco411ts "tOTAL Post Office SavIng Bank Account U .Olreefor 23 .484 (18..087 (227) 161.as Cash Flow StaI~l1ler.935 (60. Kilpur CEO & Whole llrne.458 19.440 3.!nkS: -en c!:lr~.ler~1ie.~ase If\ loans and ady~hcas rncr.d. 2011 I Chief Financial Olflj.09S 627 11.306 2.g~08 (47.nereaS6! in ~undry debmrs flOr8a$e In Invertor-Ies Irwr. The atiove Cash Flew Slat~menl nas.i 01 ShQft telm borrowings Interest Pale . prepared uncer the 'Indirect Malhea' as set 01:11·n -the Acoounting i Standard· 3 cn Fo( and on hellaJtof Ihe Soard at DireC10rs Milnsl! O. Tax on dividend I=1a1d Net cas" (used In) fJnanclng aC\ivi1les Net increase in cash end cash e(!ulvalents (A+S-tC) Gash Bind cash'equivalents'at the beginnlng of the yeai' cst! and cash e· ulvalQIlts at tile end of the.087 (20..546 8.2::1 231 (1127) 958 79.I.078 d~o~ C CASH FLOW FROM FlNMlCING Nat Dividend received cash (used 111)nvesting I (61.date Fors"A.261 (19.VIlllg Bank AGOOunt considered in Investing activity cash and casl'! eqUlvafentsa1 he-end ot ths year 'Thes~ balahces ijre not available fot use by the Dompany as they represent corresponding unPal-d tlivldanc(llBbilitjes. Aprir 1B. t.709 2 715 4 9. 2. .668 119. As p.ise allIthorltJes No.:30100aE Ghart-ered Accountants Per Anll Gupta Par:tl')er Membership No. 8]:921 Place : Gurgaon Data.741 1.faS -32.17 El) 93.810 (17.lls MGvemenr~ In working capital: .276 (36.efllacpounts -on Unclalmeq dividend aOool.ure!?-!:1ave Ij~a~ reg_roupe.ls.beef"( Prevl9us ytlarlig.1I3IveEl .'345) 71.e r ourr·rElP 0 rt of even.327 (394) (441) 7.lTIes (46. Fll<e:d depQsits made during the year R~-d matured OUrrent Investrilents made P(0oeeds term sale of cummt investmer.011 ( 14i) 1 34.043 2.739 472 8./INDAd/ CASH FLOW STATEMENT FOR THE YEAR ENDeD 31st MARCH 2011 As at 31st March 2011 A Net ~r'6rnbefore lax AdjUSflllenls fSf : lilePfeclatlQI'I I AfTiortisall(Jn PrOfi1on sale! disposal Q ~xedassetS (!'let) Profiit'on sale p! Investments Interest expenses Ir.:er Nand Khemka ChaiJff1al) cum Managing Director K K.eas& n qUfrflnl liat:Jill{!e.Fixed deposit considered in investing actMty ~:.756 33 a.444 ( (3.\':lith s~!:1edule9 It. flagged with ex€.183 2.K.21°1 (96~j'5 53.189) (. year C MPONENTS 0 CASH A NO-CASH EOUIVALENTS (26S) (7.~7 (14) (2.569) 259 (Repa_ym~flt) (ijf long-term borruwfngs (RIij:I~Yml!m!)r Prooe'eW.715 Gash 011~Bnd Balance.791) 1.Jaln Finn's Regisita:tfon No.990 2.497 1.123 47.rtefest IndOme ProvisIon for doubtful debts ptofilllefore DMdend reqalved CAS:H FLOW FTlOM OPERAnNG ACTIVITIES· 136. wherenecessary tocontorrn (0 au rrentyear's olas-sfflcation.31{J written baCk (( 259i 765 Operating B Cash generated fram operations Direct taxes (paIGl~ Net cash flow 1rom operllting activities CASH FLOW FROM INVESTING ACTIVITIES PUrchase of ilxed ass!1fS PrOceedS from sale of fIxed assets rn.234 8.544 13.489 456 1 (31.548.2Q2 16.284 8. POst Office S$. 12.631) 214 18l! (1.

Sl.ed books and financial tJaoksc Gross d£lferred tax liabilities Effect of expenditure debileS to profit and loss account but aliowalJh! fOr tax PU[PO$8 in lallowing years Provision lor doub1f~1 qebts and advances Gross deferred tax.QOO 3. 265» (Secured byfirst charge on en~lre GlJfrent assets and fixed assets ot lh'a Company Including stGeI< and bOGk deets_ 5ueh charge is shared both present and iUMi! parrl passu Inter se.0130 b) Profit on relssue.000 S2.000 27.2010 Differences.647 assets as pertax 8. 10 each fully !'laid-up Schedule 70.~ per last Balance Sheet) 29 45.2010 478 Cash crean 1)0rrowfngs 72.692 9.5-00 2 : Reserves and Surplus As 31s1 As at 31st t'. 213 (PreviGus year As.3'52 391.000.500 Capital Reserve a) Central Cash" SubsIdy (As per last£alsnce ~-ass:Ttansferred to General AeSel'Ve911 Comptation of speoified terms Sheet) a.h. 10 each Issued. 3 As a1"31s1 March.945 1.llJscribed & paid up 5.112 2. 1.253 4.OOO 52.other differences in brook of Ijx.092 72.01l0 (Previous year 5.647 645 Net Oeterred Tax L1aJ:)illty 6.12Q 3.~OOl'Eql:ljty Shares of .000 29 45. 2010 4. of f0rfefted shares .541 4.in deprecIation and.000 14.250.500 27.aocoun.88Q 305.973 308. '000') !\Sat stst March.assets .2011 Marc.OOO))OO) Equity Shares of Rs.000 (Previous Year7.62-0 232.) :.122 Schedule 3 : Secured Leana • 31~! 20 Car Ilnanea Jeans rrom banks (SeeurE!d by hypothecatIon 01 vehic!e$ flnanoed out of proceeds of roan) (Repayable witHin one year As.00P Saourltles Premium alilcQUN (~ per last Balance Shoot) Gen~raj reserve BalancE! as Iller last BalBJ1l<9Sheet Add: Transfer.250.957 24 .2&1 11.6 As at 31st March.120 Profrt 10.548 73.Rs.!arch.02. ad from Capital ASS{jrve on completion of specified Terms Add: Tr:Jflsferred from profit and loss.500 1."NDlla] Schedule 1 : Share Capital (As.500 7{). 2010 Authorised 7.760 and Loss caeco4lf)'t 37.9.

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2010 I 33 8.711 135. Unsecured.347 2.497 1.128 · I ~ I ..2011 Cash on hand Balan§es with scheduled banks: -on currentaccounts -on unclaimed dividend accounts -on fixed deposit accounts (ReCi:9tpts fj}ledged with Banks I SaJesTax I Excise Authotifies) Post .546)] Packing marertals Stares and spare parts [Induding stock in transit Rs.069 9. Nil (Previous year Rs.774 · · J I ! j · l · I . considered gOOd. 559)1 Schedule 7 : Sundry Debtors 96. 2010 93 I I .305) discounted from a bank Schedule 8 : Cash and Bank Balances 7.5.956 17. I Asat31st March.633 1. I I 89 1. 1.Js bank accatJnt (Pass Book ptedged with Excise Authorities) Schedule 9 : Other current Assets As at 31st March 2011 Interest accrued on fixed depcslts Expert benefits receivable 310 8.709 As at 31st March.i~--.280 108.178 7.f J "ND4G"/ ! Schedule 6 : Inventories (at lower of cost and net realfsable value) As at 31st arch. 10.2011 (Rs.845 I . six months 2. consldered good Unseouree.168 154.967 710 9. 2010 74.096 627 2.966 7.613 121.201Q 495 7. I 7. '000' ) As at 31st March. 2.069 (Previous year Rs.333 8. 2011 Debts autstanding for a period exceeding Unsecured. 273)] Work-in-progress Finished goods [IMIUde traded goods of Rs.office savin1.020 I I .902 Less: Provision for doubtfUl debts . consldered good .102 211.oNet of debits arntilunting to RS.(l (Previous year Rs. 4. considered doubtful Other debts secured.Q5.237 (Previ0~s year As.131 248263 ·· I sat31st March.595 As at 31st March.315 I 26 .722 1~22 1.n4 129.536 18.183 2.333 146.306 As at 31st March. 136..760 122.715 4 12. I Raw materials [Including "5tQck in transit Rs.546 4 11.9.

.125 2. March.866 1.133 9.681 As at 31st March 2011 Fat sratulty (Refer 10 note n~.619.882 4.al'lding dUes of cr-editors other than micro and small enterprises" As at 3151 March. excise etc.2010 10.129 201692 13.830 4. {Maximum amount Outstanding during the Ye<1!Rs. a CoolPany 1nwHich cne of the dlrectors of the Gompany is Interested as director.963 627 7. 2.2010 126.890 12. Advances recoverable itl cash or ill kind or 10r value to be received Balances with custems.12) As at3tst March 2{)10 359 2. 1. sa)).048 Retentien money and security deposits Advances trom customers Unclaimed dividend with ban~ (T0 be transferred to investor educal. 4. 38.037 128. (Previeus year Rs.316 713 11D 35 Deposl1s..taxdeduoted at sourcefina:ome tax refundable (Netof inoometax pl'bv[sion ofRs.391 For leave encashment For proposed final dIVidend For tax on proposed final dividen d 13.040 sea 1 8 59.others less: PrOYisien ior doubtfuLadvanees 6Q.453 11. 55.231 181066 27 .Due from The Nand and Jeet Khemka foundation.353 2. '000') As at 31st March_ 2011 Considered good.016 150. Provisions 1.lor:l and I'lrbteclfon fund as an when due) Other liabilities "Included payable to directors Rs.tnln notes to acceunts) Total outst. (M~imum amount ou1s(anding during lI1e year RS.732 71"3 110 60.744 1. Advance tax1.457 ( Previous year As.197) MAT cledit entitlement As at 31 SI.523 lncludee In leans and advances are: . .315 31 3.076)).125 2. trust In which one at the directors of the Company is 'intereSted as trustee.l6NDAdl' Schedule 10 : Loans and Advances (Unsecured) (As.863 823 60.Due from Khemka Avia1ion Private Umited.others Considered doubtful Advances recoverable in cash er i11 kind or for value to be received Deposits.989 1.060 42. 35 (Previous year Rs.3<i6 13.807 CPrevlQusyear Rs.2011 Sundry creditors Total eutstanding dues of micro and small enterprises (Refer to note no.827 151.496 38.057) Schedule 12 .047 3. Schedule 11: Current lIablllUes As at 31st March.

Sn Year Enaed 31st March.037 50.OB8 259 765 4. - 4.057 96. wages and bonus Contribution to proVident and other funds Gratuity expense (Refer to nota nO.2011 {Rs '000' Sales Less: fieb"ltes and claims Sale of services 1.939 627 1. 57) P-ravision for dOUbtful de~ written back Foreign exchange UllGtlJCI!ion (Net of loss of Rs. 2010 36. 2011 vearenJ 1'3 227 PreviolJs year As.967 1.111.3151 Merch. Tax deducted ~t source Nil. a) On others (Gt0ss. . PrevlOLls o year Rs. 2010 16 : Personnel Expenses Salaries.268 1.043 441 361 .237 3._----INDA. Nil.TraQe Miscellaneous lncorna Schedule 15: Raw Materials 1.347 1.122.7144.722 8. PrevioUs year Nil) Unspent liabiliUes ~credit balances written back Profit on sale! CiJisposal f fixed assets (Net of loss of As.228 Year Ended 31st March. 2011 Interest Income On bank deposits (Gross.943 394 979 1d 2.160 1. 2011 826.9B? Opening Stook Add: Purchases Less: Closing Stock Schedule 74.382 BaS 1493.11e.28.12) Workmen and staff wetfare eXpanses 54.278 664.9~ Schedule: 14 Other Income VearEnded 31 st ~1arch.140 8.494. Previous year Nil) DiVidend received en current investments -Tr'ade prom on sale of current investments . 31 at March. 25.1DO.106 63.514 1.911 74.1'6 1.8 1.741 28 .325 46. Tax deducted at seurce Rs."341 Consumed Year Ended . 2011 year Endep 31st March.138 2. Schedule 13: Turnover (Net) Year Ended 31st Mareh.

150 10237 701 10.509) ( 57.:l!80 Closing stack Work-fn-progress Finished gopds QpenhilQ stock Work.219 1.)l4s year Rs.904 Year Ended 31st March.080 182. (prevh.972 1.755 2. '000') 31st March.2 12..102 126.541 14.809 6 8.884 40..036 5.g expenses Power and fuel Repairs and maintenance: -Plant & Machlner:y -BiJlldlngi? -Other~ j.004 3. 2011 2.Oti9 235 26.280 108.ln·prograss Finished Goods 17.131 139.384 6.00.019 15.115 1.velling & eonveyance Ccmrnunleatlon costs Printing & s~ationary Legal & professronal t~ Director's remunerations Payment to AUdiior AsaudllC!lr: Audit Fee 8.629 13 1.524 480 839 7.102 126..760 122.es to G & F agents Advertisement & publicity Commissien on sales (other than to sole selling agents) Miscelllmeousekpenses Schedule 18: (Increase) In Inventories 6.other manner: 221 304 14B Certification etc.641 161. 282.373 7.073 64.130 Year Ended 31st March.669 8.088 1.464) Rates & taxes lnsurance Tr(!. 2010 18.891 18.On 1.868 1. Year ~nded 2010 Oensurnptlon of stor~ and spate parts Pack1n. 29f1 (Rs.382 4.954 1.L'NDIIG'7 SchedfJle 17: Operating and Other Expenses Year Ended 31st March.340 3.803 2..417 2.!ent ( neludlng rent on leasehOld land af Rs.891 4.B82 (13.280 Tax Audit Fee ASadvlseLor in any ether capaej1y 11'1 respect of : For COR')pany Law Matters ln.382 108.579 30.280 100 2.500) 29 .985 '.407 1.301 B.585 7'20 Director's slttfng fe~ SecUrity and other service charges Servioe charg.522 12~2'14 3.810 4.01a 8.461 1.607 11.832 380 2.577 1. Outofpecketex~enses Less on exchange fluctuations Freight and forwarding charges Bad debts written off Vehicle running & maintenanoe 540 69 2.677 38.

250.tnings 1il9r share (Rs.-..237 4.000 10 20. '{JOO' )1.-.150 11.736 account 107.. of Equity Share at the beginning and clOSing of the year Weighted avera!je number of equity shares for calctJlatlfiQ basic and diluted EPS 5. On other loans from banks 42 6.. 2011 Interest ·charges On car lOans from bankS. 1)5.. 30 ~ .112 i VearEnded 31st Net profit as per profif and I£lSS arch.1 llND~ ~ SchedUle 19: Financial Expenses Year Ended (As.. Year Endeq 31s1 March.) 22.525 5.04 .000 5.48 Nominal value of shares 10 8qsic and Diluted Ea.642 403 70 1.250. 201 YeatE11d~ .250. 2010 31s\ MaTch.25010031 5.2011 31 st March.4:lO 511 ~ 101 011 others Bank ch·arges Schedule 20: Earnings per share (EPS) 4.000 No.

The flnanoietstaternents have been prepared under he histori~1 cost conventi<''Hl on an accrual basis.000 are depreciatoo fully in the year of purchase. 31 . (e) Fixed Assets Fixed assets are stated al cost less accumulated depr:eclall<:Jn and impairment losses. 5. The recoverable amount is the greater oflhe assets net salling price aJ'Idvalue in use. Leases (fl Leases where the lessor effectIvely retains substantla. sheet date jf here IS any indication of Impairment based on Intemallexternalfactors. BlilITowing costs relating to acquisition of filleO assets which takes substantial period 011ime 10 get ready for Its Intended use are also lneludsd to th&9Xfunl they relate to the period tit! such assets are ready 10 be put te use. Cost comprises the purchase price and any directly attributable ~st of bringIng the asset Ie its working Gondition for Its Intended usa. actual results Go1.Animpalrment loss is recognized wherever the carrying amount of an assatsxceeds its recoverable amount. (d) Depreciation/Amortisation Depreciatlon on FixaQ Assets provided l!slng Straight LIne Method and Written Down Vatrl. 1956.Sc'hedule21 1.:ls Method at the rates be:sEKl011 the. 1956. which are. Notes to Aocou nts Natureof Operations Inoag Rubber Umited (hereinafter referred fo as the Company') is engaged in Ihe manufacturing PreclJredTread Rubberand allied products. software licenses and website develeprnant.lal period of license whIchever Is lower.acquired. 1956. if any. are capitalized and amortized on a straighHine basjs over their tolAr . DepreciatIon on Buildings and Plalll & MachlnE)ry has peen provided on SLM a't the rates prescribed in Schedule XIV to the Companies Act. In assessing value in use. the estimated future cash flows are discounted to their praselilt value lJsing " pre-tax discount rate that reflects current market assessments of the time value of m oney and risks specTfjc to the-asset. whloh is in acsordance with the rates speCified in Schedule xlv of the Companies Act. is I) ii} iii) Cost of leasehold land Is being amortised Qverthe lea$e period of 95/99 years.lld differ trom these estimates. assets has been provided on Wf1II atthe rates prescribed in Schedule XIV lv) v) Depreeiation on all otherfixed 10 the Companies 1\cl. are ciassifle4 as operntin!ijlaases . Assets costing less than or equal to Hs.Although these estimates are-based upon manaqament'sbest krmwledge of current events aAo actions. The accounting polictes have basn consistently ilPplied by the Company and are eenslstent With Ihose used in the preViOUs year.year Useful lives or actl. 2006 (as amentled and the relevant provisions 0f the Companies Act. Useofestlmates The preparafiol1 of financial s(a~ments (1:» In confo(mity with generally aocepted acoounting principles requires management to make estimates and assumptlons Ihal affect the reported amounts of assets and liab"fties and disclosure of contingent liabilities at the da~ of the financial slat~menls and the results ot operatioBS dLlringlh~reportlng yea r. 1956.IIy all the risks and benefits of ownersh p of the leased IlsfTl. (e) Impairment The carrying amounts of assets are reViewed a1 each balance. and salllhg Of 2. Costs relaling to softWare. Statement of Significant Accounffng Policies (a) 8asisof preparation The finanolal statements have been prepared to comply in aJlmaterian respects with the accounting standards nQtified by the Companies Accounting S~ndards RUles.:Qperafing lease payments are recoghized as an expense !n the prom and loss accourtton a str~jght-Ilnebasis over the lease term.astlmated useful life of the asset. .

or reported i previous rmantiel statements. Conversion Forei. Nan-monetary !tams whioh arecarriec in terms of hlstorica I cost denominated in a foreig n eurrenoy-ara reported using 1he e)(charjge rate at the Elale of the fransecnon: and non-monetary items which are earned at fair value or other similar ValUMOf' denomrnated in a I(!)reign cl.etween tlie.whioh they were initially recorded during the year. Cost inclu direct natertafs and labour and a propottioFl manufacturing overheads based on normal opora! capaCity.1'l8Cking materlals an d traded g00ds Wotk In progress and fllniShed'goods (own manufactured) Net reallsaf. stores and spaT9s. are expem! to be sold at or above cost. by applymg 10 the' feffligh ctj~ten amount the exchange . Ol~ determined (iill Exchange Dlffe ren cas Exchange differences ariSing on the settlement of menetary items. are f'8cogntzed asjneomeor a expenses in the yearin which they arise. [)ivid~nds ReNenue-is recognized when the rightto reeelve payment Is est. (i) Foreign currencytrBn. export Benefits Export Entitlements fn the form of Duty Drawback Scherrra and D1lJty EntiUement Pa~book Scheme a recognized in the Profit and Loss Account when the right to receive credit as per the terms of U'le scheme estal:lfi{lhed In tespect Of experts made and when inere is ne signlnoonf uncertainty regarding the ultima collection ofthe relevant export proceeds..jle value is the eslllttateq selling price In the oro nary course of business less estimated cost comptetion and estimated costs necessary to make the sale (h) Revenue RecOQnltion Revenue is reoogl1lzoo to the extentlhat if is probaillelhallhe revenue can be reliably measured Sale ecenornle benefits will floW to the Oompany and h olGooa. Raw materials.jrrency.reporting ourrency and the foreign currency 131 the datsot the transaetlan.ratel:). Lower oi cost and nel rsallmbls lialue.abllshed by the bpjanoe sheet date. lime prepernon basis taking ' Into account tbe amount outstanding and the ra af'lpiicabla.s Reverwe is recognFsed when the significant risks and rewards of oWfl~rshjp atine goods nave passed 10the bu Sale (!)f SeMces (Income from services) Revenuefrom saleotservicests ret:ogr:lizedas and when lheserJices Interest Revenue is rec0gni~d on a are rendered.lINDA (g) Inventories Inventorles are valued as fGi rows: Lower of cost and nel realizable value.gl1ourrency monetary items are teporteo using the Qlosing rate. Howeve and other items held mr use in tire Pfodl:Jctil!lIl inventories are hot 'Jrirren down below cost Itth&finis prGduets In w im they will be Incorporated. 32 . are repertedusing the exohange rates that ex:isled when the values wer. cosus de ermined on monlhly moving weight average baSIS.sJ:aUon (I) Initial Re-cegni!lon Forei9n currency transactions ars recorded ln the reporting currency. Cost is determined on rnev weighted average method. €)r on reportfng such MonBt~ items at ratas dffferent from those at .

r timing differences between taxable lnc0me and aQcQuntlng lncCilmefor tl'le year -and reversal of t1mil'lg dtffe. thatsuffiCi. as the case may be tha. take. Deferred ta~ is measured based 0[1) the tax rates and the-tax laws ell8cted ~r substantively enaofedatthe balance sheet date. Tt'te Company reviews the same at each balance-sheet date and writes down tne earrying amount of MAT Cledit Entitlement to the ext~( lhere ·is no IGnger convlnoing evidence to fhe effect that CompMY will pay norrnat tncerna tax during tile specified peried.valuation on I'lrC)jecfedwnit credit method carried by aTllndepehc:feJitaelUary rT)adeat the end at each flnancialyear. oft current lax assets aga'f.ar.. ies and the deferred tax assets and deferted lax Uab!!ities relate to the taxes on income levied by same-govermngtaxation laws.suffiCient future taxable Inceme will be avallahle against which such deferred tax assets can be.measured atthe amount expected to be paid to the Income tax aLJthorities in aecereance with the Income-ta:x Act.er virtually certaln. BorrOWing costs censlst of interestand otherOGstslMa1 an en1ity incurs In connection with trle bGrroWing of fI.Mly if thare is Virtual certainty sllpported by convincing evidence tlhat such deferred'f8XqSsets can be realized against future taxable profits. isadeqillately provided tor by the Cempany. Actuarial gainsllosses are imrnediatel~ iv. to profit and toss. thatsufticient futUTataxable !ncome will be available against which deierre£l fax asset can be feaJjz_ed.y forward tax losaes. MAT credit is recognized as an asset only when andto the extent there Is Con\linclng evidenQe that tile Company will pay ncrmal incom-e tax during the spi9dfled perioo In the year in willch the Minimum Altemative fax (MAT) crsdtt becomes eligible te be recognIze(! as an asset in accordance with the reeommendatrons contained in gul dance note Issued by tne Insmute of Chartered Accountants of IndiSc. ita legally en10rceable rignt extsts tose!.at ll:le~e Is reasanaI:)le certainty that.cllrrellt~ax liabil.assets are recognized 0. constructien or production of an asset that necessarily takes a substan1iaJ period of time to get ready for i~ Intended use or sale are capitalized as par'tQJ tha eost of the respective asset.carrying amount of a deferred tax asset to the extent that It Is no longer reasonaoly certain . an Independent actuary as attha end ofeachye. All other borrowing cas s are expensed in the period they occur.aoceunt and are not c. Gunrentincome tax I:. realized . The Company writesdown the .the sald asset Is created by way of a credit to the IiIrofit and loss account and shown as MAT Credit EntiU13ment. if any. There srene other obligations other than thedootribut1on p~able to the respective authorities. su'tfrcfent future taxable income will be avaHable against which such deferred tax assets can be ~earlzed.Jn"ds. 1961 enacted In India.. iii.er:rtfuturl'! taxableincomewill be available.In gitua!lofrl s Where the Company has unabsorbed depre:ciaUo 1'1 or carr. The carrying amount of deferred tax assets are reviewed at each balance sheet date. Ghafged l-o tile prom and loss account of the year when the centrtbulions to the fund are due.rences of earlieryears. At each balance sheet date. as tne case may be. Defa_rredtax. 33 . (K) lncometaxes Tax expense comprIses of current and deferred tax./INDAG1/ 0) Retirement and other benefits L Aetlr~rnent benefifs in the form of Provident Funq Mhere contributed to the Regional PF Commissioner) is a defined cantribtJtlon scheme and the contrtbutions are. Long term Compensated absences are prol:llided lor based on aotuaHal valuation on projected unit credit method carrlsd by. all deterred lID:. Deferred t~ assets are-recCJfjnizeo·onlyto the e>ctentth. It reeogflize~ unrecognized deferred tax assets to t~e extent that it has become reasonably certain or virtuallY cert-ain. Deferred lneeme tax refiects the Impact ef current Ye$l. (f' BorrowIng Cost Borrowing costs direcUy attrlbutabte to the acquisition. G'tatuity liabili:ty IS a defined b'enefit obligatIOn and ts provided for 011 the basis of an ctuariat .teferred. assets>8l11d deferred lax liabIlIties are offset. the Company re-assesses unrecognIZed deferred tax assets. ny such wri1e·down is reversed to the extent IMal It becomes reasonably certain or 'VIrtually certain. Short term compensated absences are provided tor based on estimates. as A the case may be. ii. ~ Retirement benefits in !he form of Prqvident Fund contributed 10 the Trust set Up by the empJ0:ter is 8 defined benefit scheme and Ihe payments are charged 10 the Ptofit and Loss Aecount of the year when the payments to the Trust are dUB_ Shortfall In the fUflEis.nsf.

In respect of whIch a reliableootirnate oan be ma obligail!on at the ba1ance sheet date. share split and reverse share split (consolidatJon of shares). the grant or subst retateste an asset. The weight average number of eqVltysnares outstanding during the year are adjusted for events of bonus tssua. (q) GovemmeotgrBntsandsubsidies Grants and subsldles from the government are recognized when there IS reasonable assurance that it. For the pl:lrpose Of calcuJalting diluted earnrnqs per share.286 77. which II Is intended 10 oompensate. Where.(m) Segment ReporUng Policies pa'licies adopted for Prepar The Company prepares its segment information in conformity with the accounting and presenting the financlal statements oftlile Oompany as a whole. which are USeCOl flxir:tg on old used lyres.'l opera lions int0 two major geographical India:} and Exporto(0ulside India} The geographical segments considered for disci osure are as follows The analysis of §eograpl'lica I segments is based en the geographical location of the customers. The fonowing table snows the dJstrlbufian of the Company's consolidated market.e produced: Sales (net) revenue by Geographical Market 31 st March Domestic EJc. bon element Ina rights issue to eXisting shareholders.abJe to eqlJ SMClreh(llders by the weighted average number of equity shams oufstanding during the year.gment Segment Information segments: Domestic ~ The Company has organized its manljfaoturin!. Bond1ng Repair and ExtrUsion Gu .674 Total 34 .244 1. Its value is deduo1ed In arriving atths carrying amountof the related asset. (0) Provisions A provision is recogni:Led whljn an enterprise has j3 prasent obligation as a result 01past event.494..'12. gr. cheques in nand a shert tern !nveStrnents with an anginal maturity of three months or less. r.s se. These are reviewed at eaoh balance sheet date and are a-dJwstedto reftael t ourrent best ProvisiOns a re not discounted 10Its presenf value and are delarmined based on best estimate reqUired to settle th estimates (p) Cash and cash equivalents Cash and cash equivalents in the cash flow stalemenf comprise cash at bank and In hand.065. Segment Information The Compal'1Y is engag~d in the manufacturing ofthe PrecuredTread Rubber. These products do not haveany different risk a fOr returns and thus the-Company has only one buslrle:s. When the grant or sUbsidy {elates to an expense item.ruiVsubsidywfll be received and all attaching conditions will be complied WIlI1.721 47.unings: Per Share Basic earnings per share are calculated by dividing 1M n\3t profit or loss for the year artrlbut.'OOO) 1. • Sales wi1:h\oIndia tnGllJde sales to eustomers located withIn lndla. and Rubber Cement. Government gran ofthe nature of promoters' co ntrlbUtfon are oredi ted to capftal reserve and treated as a part 01shareholdars' funds 3. 201 o 1.388 1. the net profit or loss far U'le year attributable to equ shareholders and ltIe weightee average nlJrt1ber of shares outstanding dUring the year are adjusted ftlrthe effe of all dillltive potential equity shares.egardless of where Lhegoads wer.417.965 (Rs. (nJ E.port 201 1 sales and debtors by geograj)hloa 31 st Maron. it is recognized as income over the periods necessary • match them on a systematic 'ba"sts to the costs. iUs probable lh an outflow of resources will be required to settle the obligatIon. Sales outside India include sates 10 customers located ourslde IMia.

369 5.ch 31st March 31st March 2011 a1s~ March 31st March 2D11 31s1 Mareb 2011 2010 2010 2010 Purctmses(Raw Materials. 4.Carrying ·amotmtQf Segmeqt As. NaRd Kjle:mka Sitling Fee . s:e!_:lprate figLlres for fix.627 129.369 5.f<.294 5.Mr.res.956 280 5.2 Foundation Helmllursement of expenses GIven .sE!:is (Debtors) by Geograpl1ical Market (Rs:OOO) 315t March. 'DOD) Key Management Personal Total 31 st March 2011 31st March 2G10 31st Mar.078 146. Materja~'S) • Unlpalql:l RUt!ber L.128 has G(lImrrlot} fiXed assets in India lor proquGing goods/pfovidlPlg ser'vloes 10 domestiC as well as overseas market.571 40 ..UhlpMch Rubper Limited lntarest paid 113 8 107 113 8 107 -lKh.Mr.577 40 7.2c94 6. 2010 126..fiXed assets have not been furnished. 201 1 31stMa~h.767 9.& Peeking.706 6.emkaAvralion Private LId 35 .501 DomestiC' 137. Stores.a Reimbursement of expenses 40 220 40 220 29 Received .Unlpatc/l Bumper Limited -l<hernka Avl~tion Private ~Nand and Je:et Khemka Lirnttsd 42 41 75 29 35.956 5.Mr.ed assets! addition to . Shyam Lal Khemka 7.Mr. 280 5. Related Party Drsclosure Enterprises owned or slgnlflcantlv innuenced by key Management personnel or their relatIves (either Indlvlduallv or with Others) Relative of Key Management Personal fRs. 6. Kapur .845 Export Total The CoMpany 2.}O6 . Hence. NanqKhernk. 62 42 41 75 3. Spe.emunetation P(iwle Ltd.lmited Hen! paid -KhemkaAvjatioA R. K.

the COrT)pany has rscelved'a demand notice frern Income tax: authorit.7. Previous year Rs. There is no pu rchase option (n·:tlie lease agreements. 2. 3B. (As. Based on future sales plans.)any. liability is not a.he expendltureshauld be allowed to them in the year t the arbitr.of exports in the future Claims against the COrr'lJilBr:lY aqkfloWIed.leases.830) a'S Minimum A-ftemat& Tax (MAT) 6. Contingent a) b) Usbll ties (not provided tor) In respect 01: The Company ~sUnder litigation with th.ccrued till the aware! becomes a rule of c@Urt and has thereforlil drsallQ~ed the expendlture"in the AY 98-99 (the year In which !he Company claimed the expenditure).ies pursuant to rhe ordar by tneome tax Appellate Tribunal.541 . The Oc:lmpany is Ilresently In appeal before. B.'OOO) As.570 The Company has taken office and warehouse premises under operating lease agreements.158" 917'" 0') d) e) f) 2.ed credit en!ilIernel'1l.the sehsdula ott.915" 193· 1.oarrs and Advances.jn 0f. As per1he CorTu:.250' 1. Excise dUty liabi IIty fur DG Set case pendmg beforeGESTAT Differential amount of oustom duty payat:lle.011 8.120" 1. which represents that portit. the Hon'ble High Court. th e credltol which wow(d be avallael ei based on the-provisIon of Section 115 JAA of the lncome Tax Act.itorl expert opinions takentstatus of the case.IINDAd'! 5. (Rs. 1961.l3. Leases OperaUng Lease 22.882 (previous year As.267 2. Capital Commitments 31st arch 2011 Estimated amount of contracts: remaining to be executed on capita:l account and hoi prl!lvided fo(.893 37 .658) March 2010 1n. Theag~eements are generally cancelable at the mutual consent of both the lessor and the Jessee. Demands raised by the Service Tax Authorities but dispUted by the Company and1tile appeal Is pending before theCESTAT. The department is 0f the view 1I1at the. Pending Labour cases Demands raiseD by the Sales Tax Authorities.205 .829" • Based on the dlscusslons with the soJio. Tne Company has depositad -As.terhas passed tne awal'€!. the MAT l-fablltty. DUr. (Net of advances of Rs. management is quite hopeful to meet out the export oblJgatloll byexecuting1:he relqulredvdlUlne.267 • g) 1.'OOO) Lease paymen'ts fo~the year 31 st March 2. 42.ingthe fli1anciaJ year 2006-200. he management believes thai the Company has strong chances et success in above mentioned oases and hence no provision there against Is considered necessary at Ih~ poinl. Therear9 flO sUb. by the Company In case 01 nol1'lulflllmentc:lt export obligation inclUding interest thereo against the import of capital gOeQs h')ade atconeesslonal rafe of duty.31 st March 2010 6. Delhi.702 7.ged as debts not 15. The Managementbased on the fUture Profitability proiectlons and atse prof[tTearned durfng the year is COnfident Ihatthere would be sufficient taxable grofit in futur-e which will enable 1he Company to utilize ~heaaeve MAT oredlt Ei rititl em ant.560 31st 2.0 against the demand and wlnich is appearing In. regarding expenditure claimed by the Company anslngj out of an arbrt~l(:m award. in time. being disputed by the Compal'1Y.1. There is no esCalation clause in the lease agreement There-are no restricttons imposed I:!y lease arr~ngemel'ils. lncometax The Company has rill date reco\ilniz.565 21.00. 2.e revenue authorities.111· 193" 1.

The.'1 Acl.. 31stMarch 2011 The prinCIpal amount and interest due thereon remainrng unpaid toany supplier aset the end of each accounting year.. comp 38 . and 5 The amount of f.f payable for tl]e periGS of delay in making payment (which have been paid but beyond the appointed day during the year) btrt without addIng the-interest s_p~lfied under M'€lor0 Small afjd M'edl~m Enterprise DevelopmentAct.idingtne shaP. Details·o1 dues to Micro.urther intere-s_tremaining due and payab. uf1til such date when the interest due-s as ab('weareactuaJly paid to the small enterprise for the'purpose of disallowance as adeductlJjle-expenCliturel:lnder Secllon 23:caf Mfcro Smql( and Medium Ent~_rp. Enterprises as per Micro..1 Directors'Remuneratlon 31st March 2011 S. As perthe requirement of Clause 40b.riS&Developrne. 2 The amol.2011 was 2?95%. Small and Medium Ente (Rs. Small and Medium 201 Nil MI N~ Nil 3 Nil N 4 Nil Nil N of each aeeourrun 9 year.9. The arnmmt of Inf. ThepUbl ic shaf"eholdlng ef1tle-Cernpar at MarcFl 31. of the' Micro Small and Medium Enterprise Development Act..le even jn the Sl.Icceeding yea.rs. the amount pertaining 10 !he director is not included above.promoters of the Cernpany are in the process of off 10. 2006 1D. The amount of interest accrued aAd remaining unpaid at the end 3'stM~ Development (MSMED) Act. the rnlntrnurn public shareholding in aputllfc G0rnpany $fiol!lld at least 0&25"/. 2006.nd 801'1Us'" Cormnlssion to ROil whole Ume directors Contribution to Provident Fund 11. of the List1ng Agreement.461 • As the future liability ()f gratllity and leave encashrnent is prQvfded en af! actuarial basIs fer tfle as a whOle. er al:j:Oveef the total pald upcapilfll.lrit of interest paid by the buyer In errns of Section 16. 200&. 2006a10Ag with the amounts of the payment made to the supplier be-yondtheoappolrlted ~y Burlng eacfi acpountfng year. ~re 11. ensurethatthe Oompa.ny oomplles with the aforesaid clause.J:fary ij.891 15.l:nesl due anl.769 1.515 286 Perquisites (LTA * Medical + Rerit) 1.

95~ 720 124. '000) 31 st March 31st March 2011 2010 1. .458 (441) (394) (14) 14 74 15.(fIs.Profit on sala! disP0sa! of flxed'assets (nat) as per Profrl aod LosS aceounr Ad<il:Profit on sale of fixedass(. '(JOO) Raw materials Stores and Spares Capital Goods 12.939 (Rs.)t.83"B (Prevlous year As.105 29.515 6. 8.'602 200l~"09 8.515 1. 1956 Particulars S9 in accordance with Section 198 read wirh SecUon 31 st March 349 and 350 of (Rs.939 23.3 Value af Imports calculated on elF Basis (on accrual basis) Particulars 2011 136. The Company has a deffMd benetl ]Jratulty plan.6 Net Dividend remitted In foreign currency 75 278 27B (Rs. Director's Sitting Fees Net Profit as per Section 349 €If the Companies Act..idend relates 8 2~459 602 Others 11.805 218 2.Provi~ion for doubttOl debts Written back Less:.1"05 2010 23.epatriatlon basis.24S 1.538 1.010 Particulars Travelling & conveyance Commission on sales 2011 729 110 914 31st March 2011 Number of NRI shareholders NumbercGfShares herd by them Dividend paid (Rs. Every employee who has completed five years Of more of service gets a gratuizy on departure at 1() days s<\lary (I~st drawn salary) tor each completed year of service or part thereof In 8)i(GeSS of six months.O.043) Profit-befOre laXalion Less:-.B value 11.250) credited to FGNRI NAE accountcf E Overseas Corporate Bodies on r. '000) 31cStMarch 2010 119.209 13. The scheme Isfunded with an insurance cO!Tlpany in the form of a qualifYing insuranoe polioy.461 380 151.202 (2.459.8~3 1. 39 .023 . NRI's and pald'to 12. 1956 Oemmisslen payable to non whOle time directors @1 % of Net Profit Restricted to 11.ManagerIal Remunerat[mh .933 11.724 1.5 Expenditure In Foreign Currency (on accrual basis) 31st March 31 st March 31 st March 2011 29.'OOD) 31st March 2010 8 2. 195B Add:. in '000)* Year to which div.2 Computation of Net Profit theCompanies Act.2.s as per Section 349 of the Gompanies Act.48 (As.j'NDAGf/ 11. 2008--09 2009-10 & 201()'11 2009-10 "Exoluding dividenc::lof Rs .4 Earnings in Foreign C~lrrency (on accrue basis) Partlcuters EXl*1rts at F. .'OOO) 31 st Marth 2.

350 to Rs.047) 31st March 2011 Opening defined I3enefit ohligati.375 10.1 1.360 2.7f 3.oe 40 .The Provident Fund being'administered by a Trtlstis a deflned bene:fit scheme whereby the Company de~ an amount detefminecl as a fixed percentage of basic pay to the fund every month. 31st Ma 2010 Defined benefit obligation Fair value of plai1 assets Net (I-iabitity)/ Asset Less: Unrecogn. tile Company's actuary has expressed his inability'fo relIably rneasuea the provi fund liability.' Net employee heneftte~pense (recogt11zed In EmplQyee Cos:t) 31 st March 2011 Current servlce-cost Past. Profitand Loss Account (Rs. The benefit vests commencement 0f employment. which requires interest sh1iJrtfalito be met b employer.264 (419) 1. 1.001 2. needs to be"treated as defined benefit .on Interest Cost Past Service Cost Gurrem. Employee Benefits (Revised 2005) IssUeQpy the Actountihg Sfan Board (ASB) states tliat provident1unds set ~p by employer'S.plan. .000 per employee underthe payme Gratuity Aot. Net ~ctuatial (9a1n)/I05s reoo9hfzed in the year NetbenefU expense 1.illte(a5t crl~mheGlto the otcoouritS oltl1e emplOyees ''is adjusted 0 annual basis fa G0nlirm to the Interest rate declared by the-Governrnent for the Employees Provident Fund. guidance Note ~n implementing A8-15. The fo!lewing tables summarize the compenents of ne1 benefit expense r-ecognized in the f'lrofit and U Account and the fi]ndeE! s~tlJs _andart!plmls recogn!l. There is no deficit in the fund.065 (2.servlcaoest Interest 00St on benent t:lbligati0n ~pected return on plan cassels.112 8.581 (419) 444 80S5 31st Mal 2010) 3.0' {27: Opening I8Irvafue of plan assets ~pooted retUm . Tile.~ Change n t/!Ie fair value of plan assets are as tonews : 31st March 2011 5. Paneling IMe Issuance 01 the Guidance N0te fr0 Actuarial Sl1)cirMyofIndia.M~ 201 2.047) (2.zeq past service cost Net Pfall (liab11lty)~Asset CliJanges in present value of the defined benefit opligation are as fonews : 10.112 6~ S.lE (Rs.108 424 (271 15 Benefits paid AotuariaJ(gain)/losses on obligation Clos('ng defined benefit mblig_atiQIl 1.108 (458) 930 4.264 31st.ed In the BalanceSheetfOr the gratufty. 1972. ServioaCost 5. Balance Sheet Details of Provision ior gratuiW 31st March 2011 (Rs. Contributions by emplO}{er 8enefitspaid Aetuarialgainl (lesses) Closi og fair val ue of plan assets 458 5.268 424 Actual return en plan assets 458 Due to ef1l'i~noement of maximum limitol gratulty1rom Hs.

15 8.seniority.0011 (359) 2008 3. considered in actuarial valuation.047) 1.50 3 2 1 aboveA4 years 2 1 The estimates of future salary Increases. SIJCIHiSSUliJPlyand demand in Ihf. Accordingly.501 Fund .416 (5Q2) 8.avebeen disli:losoo since'therlateofadopth:m.30 years.90 plans are shown 31st March below: 2011 on plan assets lnersass in cernpensatlon cost Employee turnover upto 30 years above.00 5.112 31stMareh (As:. 'aDO) 3'1stMarbh 315 March 2tl11 2010 2.50 3 2 9.718 2008 1. Emplbyee Benefits.251 2009 1. There IS nl!l9hangein expected rate of return on assets.)the petiqd over whioh the obllga.90 9. '000) 31stMatch 2009 31st March 2010 5. (261 ) (151) 1-8 (80) Note: The actlJan_aIvalu.9 8 3. The Company expects to con1ribute Defined GontributiorTPlan: provident Rs. 31 st March 31st March (RS.360 5. The principal assumptions used in determining grafutty obligations 31st March forthe Company's 31st March 2Q10 7.The major categories of plan assets as a percentage afthe fair value of total plan-assets areas follows: 31st March 20'1 31st Marcn 201Q % 100 Investments .00 3 9.15 5.065 (2.957 444 4.lion is 10 be settled. take account of inflatiol11.787 (712).863 41 . 915 to gratuity tu nd in the year 2011·12..90 return 7.& Other Funds 2. compatative nurnbsrs tt.l employment market Amou nts for the current yea r and previous veats are as follows.499 3.:ltlon of gratUity liability in the eurrarnyear and In _3 years prior 10 the previous year was done> in accordance with the revi~ed Acc:1OUfltiflgStandard 15. prarnoaon 8nQ other relevanffaeto~. 31st March 2011 Definecl benefit Obligation Plan assets Deficit Experience adjustment on plan liabilities E:qrerience adjustment on plan assets 10. apPllcaale II.with insurer 100 The overallexpeoted rate of return on assets Is determined based on the market priees prevailing 00 that date.bLlt upto 44 years Discount rate Expected rate 6f 2009 7.

315 122.lms (Including Envelopes) Rubbe~ Cement Miscellaneous MT Quantity 2010-11 2009-10 Value (Rs.150 1. preVious year Rs. 4C and 40 of Part n of Schedule Class of Goods PleGilre~ Tre~ rlubber Bonding F-lepalr & Extrusion Gl:Jms {lnGJudil'lg Envelopes) 2009-10 6.560 757.308 13.289 126.945 57.Ltrs no 55 97.Q6Q.4 Consumption of raw materials Unit Quantity 2010-11 R.84f 6.1006n • It Is not practicable to fumish quantl.000 2010-11 InstaJled Capacity 200~10 Actual 2010-11 7.)9-1 7.142 176. '000) 2010-11 201»-1 7. Installed Capacity Unit MT and Actual Production Licensed 2010-11 Capacity 3. 13.757 109.365 8. 13. In 42 . 1.088 108..080 2.371 MT 14 32 40 Mf 660 51 770 K.3 Details of trnlshed gOOQS Quantity OpenIng Stock Precured Tread Rubber Unit 2010-11 ·2009-1'0 513 Value (Rs.440 2.659. captive consumption et~.859' 1. Ltrs Sets MT 300 15 1. '000) 201 Q.150 .eaeh bE)ii'lgless than 10"10 value of the total.102 105.It Is not practicable to furnisn guantltaiiv8' information in view of1he large number of Items which dtfferin and natere.2 Sales (Gross) Equlprnent K.131 Dlfferenee in quantitative tally.800 R\Jbbet Cem~nt Tyre Retreading 13.) ''.ubber Carbcn Slack Chemicals Others" MT MT 4.514 • Incl ut!lng sale. "Includes stock of tfudedgoods of Rs.Urs MT 95 5& 14 6.tative inJormatlon !nvjew at the large numberQI ilel'rts which differ in si2 and na. of traded Items As. iii on account of shortagl3s.619 4.146 8.800 300 13.849 713 676 7. 2.318.772 1. eaoh being less Lhan 10% in Value Ofthl/l:tOttil turnover of the Company. (previous year Rs.436 KL~s MT NA NA 45.Lure.493. 559.353 2.000 1. 1.096 1.800 1.800 1.592 695 470 1.lINDA 13.300 15 15 300 15 757 Unit Ptecured Tread Rubber 130ndlng Repair & EXtrusian Gl. if'any.930 1.150 13.1 Additional Information pursuant to the prov's Dns 01 paragraphs VIto the Campanls!? Act. 1956 (As certified by Management) Licensed Capacity.739 709 Pl'oductio 2P!.Extrtlsl0n GL:lms(lnclud1ng EnveJopes:) Rubber Cernsnt Miscellaneous Closing $tock Precured Tread Rubber Bonding -Repair & ~us\0n Gums (lncludJng Envelopes) Rubber Cement' MisGel1ajl8oUS I'" MT K.11 2009"-'1 Bonding Rs[)air &.

K..121 18.26228 Imported 100% 100% 100"/0 100% 11.SIr 8. 0Ut 0'1which Rs.8ijlani J.year'stigLltes have been regroupe~ Where necessary All flgu tes in values are ru pees In thousands.14 Advance from Customer Sundry Dehtms east! in liand USD USD 1.700 43'3~. '000) Consumption 2010-11 2009-10 R~W Materials Imported 201().BS 63.359 1.ooked Wilder Repair's.Sn 2009-10 Indigenously obtalne(l Packing Materials Indigenously obtained Stores and Spares (Including b. Previous Year ComparatIves Previol.884 1'. Rate 31 sl March 2010 Amount in Ex.884 a.125 15. 8]921 Place: 6lJrgaan Da1e: Apr1l18. Currency 44.200 EURO RINGGIT 15. As per our report of even data For S.ll 5.677 100% 100% .. Rate Foreign Foreign Currency 1. 17.Jain Chief Financial Officer Nand Khemka Chairman cum Managln~ D!reCtor CEO and WhQ'e Time Dj recto r 43 .e batanca amount Clfld considered the arnount as fully recoverable. Chartered Accol:lnlants FlmY's Registration No.65 44. 1% 99% 100"'b 100% lQ(!)o/p 826228 8. Packing Materials.354 60.978 ja·973 Particulars 01Unhedged Foreign Currency Exposure as at the Balance Sheet date (amount in reporting currency SI No.75 44-.00'% 100% 17.24 9?68 45.l'ld has nqt baen recovered. There were fraudUlent electronic transfers thousand from the CQmpanv~ hank account to the bank accounts of three lndivldual$.400 thousand were reaQvered t>efore wIthdrawal from these bank aceeunts of Indill!ctuals andthe Q!'Ilance amount 'Of Rs. Kapur ManarD.5 Imported and indigenous Raw Materials. Particulars Currency 31 st March 2011 Amount in Ex.ls.R. 3. 2011 Company Secretary K. 2.lQO. BATUBOI & CO. Stores and Spares consumed Percentag e of total Value (Rs.. SOOthOusa.IINDIJ~7 13. to CO ntorrnto thisyear's classmcati0n.65 16.Machinery) Importee Indigenously Qbtained 14.121 17. : 301 003E For and on cehall sf th EtBoard of Direotors of rndag Rubber limned per ANIL GLIPTA Partner flAambership No.K. USD at Rs.The C0mpany has taken up the matter witn the 6ank for the re'C!:)VBty 01 tll.699 11°941978 1.

& Client 1.!DPlb Name Regd. Leahl Raad. Community Centre.QRubb~r.alfendanee-regi. Gommunity Centre.byre. New: Oelhl-11 00171 DP 1'0.& Cl1eht IO.11. i 44 .rny prrasence at 11'1«: 32ntl Annl.IEl$Sthan 48 heu beforethe time for holding the aforEsaid Meeting.res_ I here. Off .duly slgned as Member or Proxy.... F0rio Nb •.oad. Indag Rubber Umited Attendance Regd .2011 at Sai International Center.~olip NO'. Affix Revenbie.1/~ Proxy SIgn attJ re Member(s) Sjgnatme(s)'--~. mst'l1ng . New Delhl. New Dell1i-11'0063 endat arljQurnment(s} tnereof.laJ General . Slil Regd.UrI1m8(Tt(s):thataof. Off. Of Shp.10017 IANe~ Rt0 ~ Regd.o~~ orfailtng hirn appoint~ _ _ _ _ As my/our Proxy to attend lor fTle1usand to vote on my/our behalf at the 32'" Annual Genercal' Meeting ai/the compal on Tuesday9~r Aut9ust .·1.2011 ar S Int~mational Qentre.L_ _ Note: * The proxy must tie slJbmitted ~ as IP reach-arrha Re gls!!ilred .0Number _ (Authorised Signature with Hubber Stam (Si-gm:ilure at Entry.ase may be at_the aHendaru c registratton cbur)Jer at the' meetIng.No duplibate -attendance slip will be issued at t~e tlme--ot meeting.Number .ofShar. No.~at Entry Pass wlll be issued only after verification of signature 0'1member/proxy recorded w.es ~~ ~ _ _ ~~ ___ _ BeinQ: Member(s) of Inqa.oPNalJ18 No.5 attendance slip along with them' to U . O 3aket. eeting of the €0r:1lpanyonTtJesdayg"' M August. No gift/coupon wi II be distributed althe m&etlng.~~ 2011 Starn~ ef Rs.umlt:edher~y R/. Pragati Villar.a.Counter) (S'i!:1naturet a ~l1enlllal1oe Counter)' Note :r Members may please 110le1.mber:lProxy Prasen Note: • Please handover thlsatterdance sliP . Si~nedthis dayol. "The Prexy need not bea member.. sake.lil1ar. ft 11. 11. Community Centre. • Mer:'f'lbers·are reql. Entry Pas Indag Rubber Limited Saket) New Dell1i-110017 Folio N.t. as the-. New Delhi.. 110'603 and adja. Name (Signatureof Me. lo£lhi Ft.Office .lthcompanyat-tha computerlsed.of Ine OQmpany not..stratfcin counter 81the rft~tiflg.leste·d10 I:lriFl~Ithl. Pfal!al1l.eefl:!./INbAG In~agRubberlimited R~g_d.

NFORMATION AS REQUIRED UNDER ART-IV OF :. egistration Details RegIstration No. Ttrousands) Total expenditure (including Other Income) Earning per Share in Rs. Jain Chief FinanCial Officer I1 IIAI ul BIBl EI RI (ITe Code) Item Code No ProdtlctDescriptlon Manal D. I I 1115101 21 71-6!21 Profit/Loss befare Tax +/I 1 I 1113161451s1 !ill t I I 111316161310141 ED DIVidend Rate % +!- I I 1110171512151 of Company (as P rofltILoss after Tax II 11210[. I.CHEDUlE-\lITOTHf COMPANIES tIICT.IINDAG"I AODITIONA I.lsl Date" State Code Balance Sheet Date 13. Thousands) Bonus Issue I I I I I IN11ILI Private Placement of Funds (Amounts Total liabilitIeS 1I 1 1512101715181 of Funds II 1 1512101715181 Secured Loans Unsecured Sources Paid-up Capital Reserves & Surplus 1 I 1 151215101 01 Deferred Tax liability I I I 1319 ]1' 12]:&11I I ! I I I I Nlil LI Misc.11I 10131 121011111 Month Y~r In As. Generic Names otThre~ per monetary terms) Item Code No. Tl1ousands) RJghts Issue (Refer Code List) ..[4Isl Prlnclpal [ill] ProductslServices V. (IrC Code) Produet Descrlpfion !temCodeNo. Balance Sheet Abstraot and Company's Genera:! Business Profile. Position of Mobilisation Publlc Issue I I I.7 171 lRI ElrlRIEIAI J. Sljleni Company Secretary 01 IslHla Fi IEJQlulllplMIEINlrl IIIIII Nand Khemka Chairman cum Managing Director K. Performance Turnover I I I I I I INIIILI I I 12191712)016] I I II I I INIIILI of Company (Amou~t in Rs. I I I INIIIll and Deployment Total Assets I I I I I I INIIIll in Rs.K.19S6. K. Kapur CEO & Whole Time Director . Capftal raised dUTing ttJe year (Amount • I I I I I I INlllLI III. I I I I 1·9I 0 I a. (IrC Code) Product-Description IplRIElclulRIEIDI 1 I I 141010161-11101 IclulslHl1 lolNI IGlulMI I 1 I I 18141-1. Expel'1diture Loans I II! 1415[9121 I I I I I INIIILI Investment Net Current Assets Accumulated lasses Application of Funds Net Pixed Assets 111212t31515121 IV. I I I I I I I 15151 II..

lndJa .BOOK-POST INDIA'S MOST TRUSTED RETREAD Indag Rubber Limited Registered Office 11.New Oelhl-110017. Saket. Community Centre...

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