BOARD OF DIRECTORS
Chairman Mr. R. Anand Directors Mr. Vinodrai V. Goradia Mr. G.D.L.S.N.Raju Mr. M. Bhaskara Rao (IREDA Nominee) Mr. M. Kanna Reddy Mr. K. Madhu Mr. Kamlesh Gandhi Mr. P.S. Reddy Mr. K. Gautam - Executive Director Mr. P.N. Raju - Executive Director Mr. S .S. Raju - Joint Managing Director Mr. K. Ravi - Managing Director

FACTORIES
CEMENT DIVISION
UNIT – I Simhapuri, Mattampally Mandal, Nalgonda Dist Andhra Pradesh Pincode - 508204 UNIT – II Kadimpothavaram, Village, Kondappalli, Krishna District, Andhra Pradesh Pincode - 521228

BOARDS DIVISION
UNIT – I Simhapuri, Mattampally Mandal, Nalgonda Dist Andhra Pradesh Pincode - 508204 UNIT– II Bhothanwali Village, Paonta Sahib, Sirmour District, Himachal Pradesh Pincode - 173025

COMPANY SECRETARY
Mr. T. Arun Kumar

PREFAB DIVISION
UNIT – I Plot No. 34/A, IDA, Jeedimetla, Hyderabad Andhra Pradesh Pincode - 500 055 UNIT – II Bhothanwali Village, Paonta Sahib, Sirmour District, Himachal Pradesh Pincode - 173025

AUDITOR
P.V. Ratnam Chartered Accountant

ENERGY DIVISION BANKERS
Axis Bank Bank Ltd Limited Axis Canara Bank Bank Canara Central Bank Bank of of India India Central Corporation Bank Bank Corporation Indian Renewable Renewable Energy Energy Dev. Dev. Agency Agency Ltd Ltd. Indian Oriental Bank Bank of of Commerce Commerce Oriental State Bank Bank of of Hyderabad Hyderabad State State Bank Bank of of India India State State Bank Bank of of Mysore Mysore State IDBI Bank Ltd Axis Bank Limited State Bank of Hyderabad UNIT – I Pothireddypadu, Head Regulator, Chabolu Village, Pothulapadu Post, NandikotkurTQ. Kurnool District Andhra Pradesh Pincode - 518402 UNIT – II RBHLC Zero Mile Point, Tungabhadra Dam, Tungabhadra Board, Amaravathi Village, Hospet Karnataka Pincode - 583225

Regd. & Admn. Office
7th Floor, Raghava Ratna Towers, Chirag Ali Lane, Abids, Hyderabad - 500 001. Tel : 91 (040) - 23203637, 23202548, 23204243 Fax : 91 (040) - 23202496, 23203417 E-mail : ncl@nclind.com Website : www.nclind.com

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C O N T E N T S
Notice Directors Report Report on Corporate Governance Management Discussion & Analysis Report Auditors Report Balance Sheet Profit & Loss Account Cash Flow Statement Schedules Balance Sheet Abstract Proxy Form 03 05 08 15 17 19 20 21 22 35 37

AGM on Thursday the 30th September, 2010 at 10 A.M. at Bharatiya Vidya Bhavan, King Koti Road, Hyderabad- 500 029.
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ARUN KUMAR Company Secretary 3 . the 30th September. who retires by rotation and is eligible for reappointment.Goradia. who retires by rotation and is eligible for reappointment. who retires by rotation and is eligible for reappointment. 3.R. 2010 T.Madhu. consider and adopt the Audited Balance Sheet of the company as at 31st March 2010 and the Profit and Loss Account for the year ended on that date together with the Reports of the Directors and Auditors thereon. To appoint Auditors and fix their remuneration. at Bharatiya Vidya Bhavan. Vinodrai V. 2010 at 10 A. K.500029. To appoint a Director in place of Mr.NOTICE Notice is hereby given that the 29th Annual General Meeting of NCL Industries Limited will be held on Thursday. ORDINARY BUSINESS 1. To appoint a Director in place of Mr.Anand. Hyderabad. To appoint a Director in place of Mr. To receive.M. to transact the following business. By Order of the Board For NCL INDUSTRIES LIMITED Place: Hyderabad Date: August 13. King Koti Road. 5. 6. To declare dividend. 2. 4.

The members holding shares in physical mode are requested to provide their Bank Account Number.Goradia Mr. will be paid to those members whose names appear on the Register of Members as on 30th September. The Register of Members and Share Transfer Registers will remain closed from 23 rd September.629 Equity Shares in the company. ARUN KUMAR Company Secretary Chairman of Eastern Engineering Co (Bombay) Pvt Ltd. K.NCL Wintech (India)Ltd.1987 to 27. Managing Director. brief Resumes of Mr. He currently holds 11. 2010.Pvt. Khandaleru Power Company Ltd. Shareholders seeking any information with regard to accounts are requested to write to the Company at an early date so as to enable the Management to keep the information ready. By Order of the Board For NCL INDUSTRIES LIMITED 4 . He is having rich experience in Textile Industry and currently Place: Hyderabad Date: August 13.1990 and is one of the original promoters. Madhu is a graduate in Commerce and Law and a successful industrialist with over 25 years of rich experience in cement and building material Industry.24. in their address or bank particulars etc.09. Mr. Vinodrai V. Mr. R.11. Madhu (aged about 54 years) is a Promoter Director of the Company since 1991. Individual shareholders can avail the facility of nomination. Ravi. Madhu is at present Managing Director of NCL Alltek & Seccolor Ltd.Madhu proposed to be reappointed are detailed below: Brief Resume of Directors proposed to be appointed/ reappointed. to the Depository Participant with whom the demat account is maintained.07. Madhu is the brother of Mr.1991 to 21. Mr Vinodrai V. Indo Count Industries Ltd.Anand. 2010 (both days inclusive) on account of the Annual General Meeting and Dividend payment. Mr. Mr. Shareholders holding in electronic form may approach their DP with whom they maintain their account. Vinodrai V. 7.1992. K. Members holding shares in electronic form are requested to inform the changes. he is a member of Audit committee. as per details to be furnished by the depositories for the purpose. Mr K. Currently apart from being a director. Besides being a Director of the company. He is also a director in NCL Homes Ltd. He served as Joint Managing Director of the company from 25. Mr. He is holding 540 equity shares in the company. R.Madhu Mr..08.NOTES 1. 2010 to 30th September. in order to prevent against fraudulent encashment of dividend. Mr. and Mr.Co. Mr.03. Goradia brings with him rich commercial experience. he is also a Director in Nova Silk Pvt Ltd. 8. 2010.Anand Mr. R. Name and Address of the Bank / Branch to the Registrars of the Company to enable the company to incorporate the same in the dividend warrant. K. 2010 T. 2008. He is the proprietor of Shamji Bhanji & Co based in Mumbai engaged in chemical business. Shareholders holding shares in physical form may write to the Registrar for assistance. 2. K. completed and signed and must be received by the company not less than 48 hours before the Annual General Meeting. 6. Investor Grievance committee and Remuneration committee of the company. 3.Goradia.Goradia (aged about 73 years) has been associated with the company as Promoter Director since 1982 except a brief spell between 20. Mr. dividend will be paid to the beneficial owners as at the end of business on 22nd September. 4. In terms of clause 49(IV)(G) of the Listing Agreement. who resigned on 14th June. K. a company dealing in Coating Products and Building Materials. if approved at the Meeting. K Jayabharat Reddy. or to their nominees. Ltd.970 Equity shares in the Company. Kakatiya Industries Pvt Ltd and Spantile Mfg. He currently holds 4. A member entitled to attend and vote at the meeting is entitled to appoint a proxy instead of himself to attend and vote only in a poll and the proxy need not be a member. Anand (aged about 76 years) is associated with the company as non executive independent Director since 1982. 5. The Dividend as recommended by the Board. Vinodrai Goradia is not a Director in any other company. NSL Textiles Limited and NSL Textiles (Edlapadu) Limited. Proxies in order to be effective should be duly stamped. In respect of shareholding in dematerialised form. if any. Anand was elected Chairman of the Board in place of Mr.

500. FIXED DEPOSITS DIVIDEND In view of the lower profitability.47 4.670.701.39 lakhs relating to unpaid Dividend for the Financial Year 2001-02 to the Investor Education & Protection Fund.18 EXPANSION PROJECTS As reported earlier.337.153.989.41 101. VARIATIONS IN THE UTILIZATION OF THE ISSUE PROCEEDS 408.40 Your Directors wish to report in terms of Clause 43 of the Listing Agreement with the Stock Exchanges that there have been no variations in the utilization of the proceeds of the Preferential Issue of Convertible Warrants from what has been stated in the explanatory statement to the notice convening the Extra ordinary General Meeting for considering preferential issue of securities.per warrant to part finance the Expansion Project of the Company. 2010.985.72 2.75 lakhs (Rs. in Lakhs) 2009 – 2010 Gross Income Profit Before Tax for the Year Provision for Tax Deferred Tax Net Profit Profit brought forward from Previous Year Profit available for Appropriation Appropriations Provision for Dividend & Dividend Tax Dividend Paid on the shares allotted subsequent to the 34. compared to the As on 31st March 2010. the dividend being free from income tax in the hands of the shareholders. Out of the profits. your company has graduated from Mini Cement plant category to become one of the major cement plants in Andhra Pradesh. Unprecedented floods.10/. Simhapuri Unit commenced commercial operation in the last week of March. the Promoters honoured their commitment by converting the warrants at the issue price.066. The substantial decline in turnover and profits compared to the previous year was mainly due to lower realization of cement prices. the Directors propose a transfer of an amount of Rs.170. civil disturbances in Andhra Pradesh and reduced turnover and margins in Prefab Division also contributed to the decline in performance. ISSUE OF SHARES ON CONVERSION OF WARRANTS Members are aware that the company had issued 33. 2010.32 478.400 convertible warrants to the Promoters and Promoters Group on the 17th March.00 During the year under review.74 lakhs to the General Reserve. 25% dividend declared in the previous year. 2075.500. the implementation of the further expansion project to add cement capacity of 13.12 873.190.DIRECTOR’S REPORT Your Directors have pleasure in presenting their Report for the financial year ended March 31.74 Balance carried forward 1.08 2. INVESTOR EDUCATION & PROTECTION FUND The company has transferred Rs.78 2008 – 2009 42.82 1.60 1. 5 .33.54 lakhs of Public Deposits are outstanding. FINANCIAL RESULTS The Audited Balance Sheet of your Company as at March 31.22 2. 2010.75 989. With the expansion project.639. In spite of the lower ruling prices of the shares.66 2.81 1.20 Lakhs TPA was completed and the units successfully commenced commercial operations during the year under review. While the Cement Grinding Unit at Kondapalli has been able to commence its commercial production in June 2009. Each Warrant is convertible to one equity share of Rs. The salient features of the financial Results are as follows: (Rs. the Profit & Loss Account for the year ended on that date and the report of the Auditors thereon are being circulated with this report.each at a premium of Rs.45/.00 3.4. there has been a 20 % fall in the gross turnover.339. 2008 at a price of Rs. The dividend payout for the year 2009-10 will be 1.113. Balance Sheet Date for 2008-09 32.69 Transfer to General Reserve 2.32 5. your Directors are constrained to recommend a lower dividend of 10%.18 lakhs in the previous year) including the dividend tax. and 61 % in Net Profit compared to the previous year.78 2.35/.205. The Company repaid all the matured deposits that have been claimed.604.00 per share absorbing a sum of Rs 408.per share. Rs 1.075.

V. technology absorption and foreign exchange etc. 1956 read with the Companies (Particulars of Employees) Rules. 1975 as amended is annexed as Annexure –C to this Report. Cost Accountant. COST AUDITORS Mr. a true and fair view of the state of affairs of the company as at 31st March. MANAGEMENT DISCUSSION AND ANALYSIS REPORT The Management Discussion and Analysis Report is annexed as Annexure ‘B’ to this Report. Ratnam be reappointed as Auditor.V. 2010 the Board of Directors appointed Mr. Consumers and Depositors. V. That the Directors prepared the Annual Accounts on a going concern basis. the founder partner of the firm M/s Prayaga & Co.217 (1) (e) of the Companies Act.AUDITORS Mr. P. ACKNOWLEDGEMENTS Your Directors wish to place on record their appreciation of the support and co-operation extended by IREDA. Your Directors also wish to place on record their appreciation of the excellent enthusiastic support received from the shareholders. Chartered Accountant as Auditor of the company to fill the casual vacancy caused by the demise of Mr. P. Srinivasa Rao. IDBI Bank and Central and State Government Departments. CORPORATE GOVERNANCE A separate Report of compliance with the provisions relating to Corporate Governance as required by Clause 49 of the Listing Agreement with the Stock Exchanges is enclosed as Annexure ‘A’ to this Report. PARTICULARS OF EMPLOYEES The details of employees who have been in receipt of the remuneration envisaged by Section 217(2A) of the Companies Act. V.N. 2010. That all applicable accounting standards have been followed in the preparation of annual accounts and that there are no material departures. Axis Bank. Chartered Accountants. is furnished in Form A & B and forms part of this report. 1956. Corporation Bank. 1956 relating to conservation of energy. DIRECTOR’S RESPONSIBILITY STATEMENT In accordance with the provisions of Section 217 (2AA) of the Companies Act. DIRECTORS Mr. R. Ratnam holds office till the conclusion of the ensuing Annual General Meeting. for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities. For and on behalf of the Board II. As per the provisions of Section 224 of the Companies Act. Stockiest. 2010 R. the Cost Auditor of the Company has been re-appointed to conduct the cost audit pertaining to the Cement Division of the company for the year 2010-2011. offer themselves for reappointment. OBC. SBH. SBI. Canara Bank. ANAND Chairman 6 .Prayaga.Anand and Mr. ADDITIONAL INFORMATION The information required to be disclosed in terms of Sec. The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act 1956. P. IV.V. III.Madhu.L.R.Ratnam. Appropriate resolutions for their appointment as Directors are proposed in the Annual General Meeting.Goradia Directors retire by rotation at the ensuing Annual General Meeting and being eligible. That the Directors selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give Place: Hyderabad Date: August 13. the Directors of your Company confirm: I. Mr. Central Bank of India. 2010 and of the profit of the Company for the year ended on that date. Dealers. L. State Bank of Mysore. Your Directors propose that Mr. Mr..N.Prayaga. 1956. the statutory auditors of the company expired on 23rd May. Your Directors have pleasure in acknowledging the excellent co-operation received from the team of dedicated executives and employees who have contributed handsomely to the operations of the company. K.. At its Meeting held on 30th May.

60 1.681 2.802 2 Place : Hyderabad Date : August 13. FORM-A FORM FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO CONSERVATION OF ENERGY Current Year 2009-10 Previous Year 2008-09 A.In Lakhs) Average Rate/Tonne(Rs) 3 FIRE WOOD Quantity ( MT ) Total Cost ( Rs.05 * 180.40 90.Lakhs Total Amount ( Rs. POWER AND FUEL CONSUMPTION 1 ELECTRICITY a.42 10. 2010 R.529 2. ANAND CHAIRMAN 7 . Own Generation Through Diesel Generator ( Units Kwh Lakhs) Total Amount ( Rs.Units Cement Division Boards Division Coal .06 75 12.634 612 2.750 111 2.09 16% * 779 4.316 625 2. FORM FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO TECHNOLOGY ABSORPTION. (R&D) A Reasearch and Development ( R&D) B Technology Absorption.In Lakhs) Rate/Unit( Rs ) b.19 97.I.105 3.13 17% * 772 94.01.337 5.31 * 176.253 2. adoption and innovation : Not Applicable : Not Applicable For and on behalf of the Board 91.795 2.28 6.519 73 1. In Lakhs ) Average Rate/Tonne(Rs) 4 CONSUMPTION PER MT OF PRODUCTION Electricity .37 9.006 3.In Lakhs ) Rate/Unit( Rs ) COAL Quantity ( Tonnes ) Total Cost (Rs.MT (Cement Division) Kcal/Kg clinker *Per MT of equivalent Ordinary Portland Cement FORM-B II. Purchased Units .

Mr.N.Raju has been re-appointed as Executive Director and Mr. 2009 P. including the Chairman are independent.N. Mallikharjuna Rao (upto 30th June. your Board of Directors had 12 Directors.V. Anand M.1 (C).K. Mr. Name of the Director Categories Of Directorship* I & NED I & NED I & NED I & NED I & NED NED NED I & NED NED st th th (2) 29th June 2009 (5) 31 Oct 2009 st (3) 27th July 2009 (6) 30th Jan 2010 No of Board Attendance Directorship No.e. c) Attendance of Directors at Board Meetings. 1st August.2009.Raju S.f.Gautam has been inducted as Executive Director w. b) Number of Board Meetings held during the year along with dates of the meetings: Seven Board Meetings were held during the year 2009-2010. Kanna Reddy M. 2) Board of Directors: a) Constitution & Size of the Board During the year under review. 2009) Kamlesh Gandhi V.S. of memberships Meeting at last in other of other Committees** as attended AGM Companies as Chairman Member 4 ---1 --1 -----6 7 6 2 6 3 7 5 6 3 7 7 7 Yes Yes Yes No Yes Yes Yes Yes Yes Yes Yes Yes Yes 6 1 1 -6 -6 7 3 -1 1 5 ----1 --1 ------ R. Ravi ED ED JMD MD ** As per explanation to clause 49.REPORT ON CORPORATE GOVERNANCE 1) Company’s philosophy on Corporate Governance Annexure . 2009.f 1st August.S.e. 4 being Executive Directors and 8 NonExecutive Directors. The dates on which the said meetings were held are as under: (1) 23rd May. Bhaskara Rao S. Goradia K Madhu P.P. Executive Director of the company has been appointed as Joint Managing Director w.Reddy GDLSN Raju K.only Audit committee and Shareholders grievance committee have been considered for the purpose * I & NED Independent and Non.Executive Director NED Non-executive Director ED Executive Director 8 . 2009 (4) 29 Sept 2009 (7) 30 March 2010.S.Raju. AGM and committees where he is a Director / Member.Gautam (From 1 August.A The company’s philosophy on corporate Governance is to conform to the code of corporate governance in letter and spirit as an aid to efficient conduct of its business and in meeting its obligations to shareholders. Five of the Non Executive Directors.Raju K.S.

37 8.Kanna Reddy M. M.D P. E. During the year under review.2009 = Perquisites include HRA. in Lakhs) Name of the Director K.S. 2009.04* Designation Chairman Member Member Member Category Independent Independent (IREDA Nominee) Non Executive Independent Committee meetings attended 1 1 1 1 w. Reddy was elected member in his place w. Executive Directors and the Sr.f 1st August. the remuneration paid/payable to the executive directors including the Managing Director is as follows: (Rs. Vice President (F&A) are permanent invitees to this Committee.D S.13 1.50 11.Raju. Contribution to PF etc. J. Madhu P. During the year under review.D * Salary 12.S.M. 31st October 2009.N. This Committee considers and recommends the remuneration payable to Executive Directors. 2010.04 Commission 36.30 16.The constitution of the committee along with the attendance details of the members is given hereunder. Bhaskara Rao K. The constitution of the committee and attendance of each member at the audit committee meetings held during the year under review is given below Name M.D K.43 3. = Commission payable to MD (at 1.f 27th July. Mr. five meetings of the audit committee were held on the following dates : 29th June. The terms of reference of the Audit Committee are in accordance with the provisions of Clause 49 of the Listing Agreement. Remuneration paid to Executive Directors During the period under review. 2009.30 2. one meeting of the committee was convened on 27th July.Raju. Bhaskara Rao K. ceased to be member on resignation as director from 1st July. Joint Managing Director. 1956 which is separately shown in Notes to Accounts. 4) Remuneration Committee: The Board also has a Remuneration Committee constituted in pursuance of Clause 49 of the Listing Agreement. 4th January 2010 and 30th January.5% of Net profits of the company) computed in accordance with Section 198 Companies Act.Gautam. while adhering to the ceilings prescribed under the Statute. 2009 and Mr.e.00 Perquisites 6. 9 .Reddy Remuneration Policy The remuneration policy of the Company is to make the compensation payable to the executive directors comparable to industry standards and commensurate with the performance of the company.80 5. P.Kanna Reddy M. 2009. Madhu Kamlesh Gandhi Designation Chairman Member Member Member Category Independent Independent (IREDA Nominee) Non Executive Independent Committee meetings attended 5 4 4 5 The Managing Director. Ravi.S.e.78 NIL NIL NIL Sitting Fee ----Total 55.40 26.25 17. S.Mallikharjuna Rao. 27th July 2009. Name M.3) Audit Committee: The Board has an Audit Committee constituted pursuant to Clause 49 of the Listing Agreement. E.

Bhaskara Rao NIL GDLSN Raju 2.629 M.Kanna Reddy M. Arun Kumar.000 69. Madhu 11. Bhaskara Rao V.000 30.000 54. M.000/-per meeting up to 31st May. 2009). the Committee met once on 21st August.S.000 10 .65. The sitting fees paid to the Directors during the year under review was as follows Name of Director M.60.000 3. During the period under review. K. they are entitled to receive @0. Kanna Reddy Chairman Independent 1 K.Reddy 25. of Board/ Committee meetings attended 15 11 3 6 1 7 14 11 6 Sitting Fees paid (Rs) 74.000 15.4.5000/. 2009. Madhu and Mr.S.N. Goradia 4. of Shares R.25% of the net profits aggregating Rs. Kanna Reddy NIL V.S. The Committee is formed for the purpose of complying with the guidelines on Corporate Governance to monitor redressal of Complaints received from the shareholders.per Board/Committee Meeting (Rs.13 Lakhs which will be paid on approval of accounts at the ensuing AGM. Goradia R.000 55.437 Kamlesh Gandhi NIL P.03.6. Kanna Reddy as its Chairman and Mr. The attendance details of the members are given hereunder Name Designation Category Committee meeting attended M.24. i) Details of Investors letters / complaints received during the year ended 31st March 2010.V.Receipt of Share certificates after transfer / duplicate 2 2 3 Non – Receipt of Annual Report 9 9 4 Miscellaneous – others 4 4 Pending Nil Nil Nil Nil No. In addition they are entitled to commission at the rate of not exceeding 1% of the net profits of the company in terms of the resolution approved by the shareholders at the last AGM held on 29th September. During the year under review. Madhu Member NED 1 GDLSN Raju Member NED 1 Compliance Officer Mr.D. T. Sl No Nature of letter / complaints Received Disposed 1 Non-receipt of Dividend warrant(s) 37 37 2 Non . 2009.218 5) Investor’s Grievance Committee : This committee comprises three members namely Mr.Anand 540 M.Anand S Mallikharjuna Rao GDLSN Raju K Madhu Kamlesh Gandhi P.000 4.Reddy Total Sitting Fees Paid Shareholdings of Non Executive Directors as on 13th August. G.000 30.970 K.L.Remuneration paid to Non Executive Directors The Non-Executive Directors were paid sitting fees for attending the meetings of the Board or the Committees thereof at the rate of Rs. 2010: Non-executive Directors No.000 34. Raju as its members.V. Company Secretary of the company is also designated as the Compliance Officer.

son of Mr. 1956. 11 .Gautam as Director Remuneration payable to Mr. grandson of Mr. under the provisions of section 314 of the Companies Act.each at a price of Rs 45/. Increase in limit for total holding of FIIs / subaccount of FIIs to 49% of the aggregate paid up share capital of the Company. K.K. 5. Issue of FCCBs and other convertible securities upto Rs 100 crores. b) During the last 3 years there were no strictures or penalties imposed by either the SEBI or the Stock Exchanges or any statutory authority for noncompliance of any matter related to the capital markets.N. Aswin Goradia as Regional Manager l) Appointment of Mr. Issue of 33.Executive Director Remuneration payable to Mr.2008 at 11 AM 26. Appointment of Mr. K. P. Managing Director as Executive Assistant to MD. Directors. Hyderabad Bharatiya Vidya Bhavan.400 Warrants to Promoters / Promoter group carrying an entitlement to subscribe to 33. Managing Director h) Revision of remuneration payable to Mr. Hyderabad Bharatiya Vidya Bhavan. Utkal Goradia. under the provisions of section 314 of the Companies Act.S. Hyderabad b) Details of Special Resolutions passed in last three AGMs Year 2008-2009 Gist of the Resolutions a) b) c) d) e) f) Appointment of Mr. Sandeep as Management Trainee None In addition. c) The company does not have a formal whistle blower policy.09. 2007. V. 3. 1956. King Koti. T. Ravi. Nirmal Goradia as Vice President(Commercial) Remuneration by way of commission payable to Non-Executive Directors 2007-2008 2006-2007 g) Revision of remuneration payable to Mr.Executive Director Appointment of Mr.Madhu.Gautam.Ravi.P.2007 at 10 AM Place Bharatiya Vidya Bhavan.S. King Koti. c) There was no special resolution passed last year through postal ballot.per share (including premium of Rs 35/. the employees have free access to Audit Committee.per share) by conversion of one warrant into one equity share. Appointment of Mr. K. Director as Management Trainee. K.09. Gautam. daughter of Mr. nor is there any proposal this year for passing any special resolution by postal ballot. K. K. Appointment of Ms. 6.Goradia.Raju . 1956.Raju Executive Director i) Revision of remuneration payable to Mr. 7) Disclosures a) The related party transactions made by the Company with its Promoters.N. Director as Manager (Administration).33.ii) Number of Complaints pending with the Company: All the complaints / letters received during the financial year were replied / resolved to the satisfaction of the shareholders. However. There have been no related party transactions that may have conflict with the interest of the company at large.400 Equity Shares of Rs 10/. under the provisions of section 314 of the Companies Act. Kamlesh Gandhi as Director k) Appointment of Mr.P.09.2009 at 10 AM 29. Management or Relatives are disclosed in the Notes to the Account.33. 4.S. Roopa. 6) General Body Meetings: a) Details of the location of the last 3 Annual General Meetings (AGM) are given hereunder: Year 2008-2009 2007-2008 2006-2007 Date & Time of AGM 29.V. 2. the following Special Resolutions were passed in the Extraordinary General Meeting held on 30th July.Raju Executive Director j) Appointment of Mr. if they desire to bring any matter to the notice of the Committee. G.Reddy as Director Appointment of Mr. 1. King Koti.

04. HYDERABAD 500 018 (AP) Phones: 040 .74.564 6.058 7.00 AM Bharatiya Vidya Bhavan.35 33.00 36. Financial Express. transmissions.70 38.15 34. April 1 to March 31 next.00 44. HYDERABAD.) 22.25 Close (Rs.502168. 12 .50 48.50 35.8) Means of communication: I.544 11.75 33.91. Bharath Nagar.426 10.40 38. Director and Mr. K.00 37.46.25 35.90 35.485 7.95 38. Fax : 040 . The Board of Directors have delegated powers to approve the transfer.Madhu.25 47. II.243 : : : : 29th Annual General Meeting 30th September. 23/09/2010 to 30/09/2010.40 43.45 37.450 8.35. Quarterly / Half yearly financial results of the company are forwarded to the stock exchanges and published in Business Standard/Financial Express and Andhra Prabha.30 32.750 15.55.T.00 Low (Rs.) 30.com ix) Share transfer system: Transfer of securities in physical form is registered and the duly transferred share certificates are despatched within 30 days of receipt.05 38.975 8. folio consolidations etc to Mr.71.827 4. vii) Stock Market Data SHARE PRICE (BSE) Month & Year Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 High (Rs.) 35.57.30 41.80 37.896 3.60 36.55. 2010 10.05 36.29. NSE – NCLIND INE 732CO1016 L33130AP1979SGC002521 ii) iii) iv) v) vi) viii) Address of Registrar and Share Transfer Agents Venture Capital & Corporate Investments Pvt.Arun Kumar.50 34. The quarterly and half yearly financial results are published in any two of the national and local dailies such as Business Standard. Ltd 12-10-167 (MIG).80 No of Shares Traded (in Lakhs) 6. No.45 30.00 42.586 6.50 46.23868024 E-mail:info@vccilindia.90 41.00 40. Half yearly report is not sent to each household of shareholders as the results are published in the news papers 9) Shareholders information: i) AGM Date Time Venue Financial Year Date of Book Closure Dividend payment date Listing on Stock Exchanges A) Script Code B) Demat ISIN No in NSDL & CDSL for equity shares C) Corporate Id.26. provided the transfer documents are in order.20 38.95 40.23818475 / 76 & 23868023.50 43. and Andhra Prabha .00 44. (both days inclusive) Within 30 days from the date of declaration BSE & NSE BSE. Company Secretary. King Koti.90.00 45.

290 1.690 1.25 16.1 Lakh Body Corporates Mutual Funds/FI’s NRI’s TOTAL xii) Dematerialisation of Shares: The shares of the company are compulsorily traded in DEMAT form by all categories of investors.666 15. of Shares 2.03.32.48.03 0.04 12. As on the date of this Report.86. Andhra Pradesh 13 .257 % 98. Nalgonda Dist-508204. xiv) Plants Location: UNIT – II : Grinding Unit.45% of shares of the company were held in Dematerialized form with the following depositories Depository 1) NSDL 2) CDSL TOTAL No.74.96.173025 CEMENT UNIT – I : Simhapuri.37. Sirmour District. Krishna District. Himachal Pradesh .515 3.29 4.1Lakh Individuals holding nominal share capital in excess of Rs.37. 2009. ADRs or Warrants or Convertible Instruments: During the year under review.13 0.319 12.2010 31. of Sharesheld 1.024 15.734 56.68.93.55 % 12.each at a price of Rs.90 % 86.572 3.12.981 45.65 1. the Company issued 33.03.400 Warrants to the Promoter Group.79.335 No.057 5.83 100 Percentage .702 97.083 2.02. there were no outstanding GDRs or ADRs.335 % 30. 45/. Andhra Pradesh BOARDS UNIT – I : Simhapuri.764 3.22.080 14.08.52 49.99.249 44.11 100 No.31 3.x) Distribution of Shareholding as on 31. Kadimpothavaram Village.20000 20001 30001 40001 50001 TOTAL 30000 40000 50000 No.36 0.52 1.496 Percentage 73.28 0.100000 100001 & ABOVE xi ) Shareholding Pattern As on 31.56. 86.45 % 1.33. Kondappalli.25 0.31.45.18 4.03. Andhra Pradesh UNIT – II : Bhothanwali Village.82 32.015 22.994 1.06.88 0.05 0.74.49. 10/. Mattampally Mandal.07.2010 Ordinary Shares held Upto 5000 5001 .38 100.70 4.05. Mattampally Mandal.73 0.37.per Share on or before 16th September. Nalgonda Dist-508204.49.521228.796 209 102 52 15 13 23 47 41. On 17/03/2008.14 6.10000 10001 . The company has arrangements with National Securities Depositories Ltd (NSDL) and Central Depository Services India Ltd (CDSL) to establish electronic connectivity of shares for script-less trading.431 5. of Sharesheld Promoters Individuals Body Corporates Financial Institutions/Banks Public shareholding Individuals holding nominal share capital upto Rs. each convertible to one equity share of Rs. As on 31st March 2010.45. Paonta Sahib. of Shareholders 40.51 0.00 xiii) Outstanding GDRs. the company has no outstanding Convertible Warrants.05.04 0.

Raghava Ratna Towers Chirag Ali Lane.com xvi) CEO/CFO Certification The CEO/CFO of the Company have issued a certificate to the Board on the matter specified under clause 49 (v) of the Listing Agreement. As required by the Guidance Note issued by the Institute of Chartered Accountants of India we have to state that no investor grievances were pending for a period of one month against the Company as per the records maintained by the Shareholders/ Investor’s Grievance Committee. Karnataka. and based on the representations made by the Directors and the Management. IDA.V. K. Kurnool District. UNIT – II : Bhothanwali Village. Abids. Himachal Pradesh . P. Our examination has been limited to a review of the procedures and implementations thereof adopted by the Company for ensuring compliance with the conditions of the Corporate Governance as stipulated in the said Clause. Head Regulator. Ratnam Chartered Accountant Membership No. We further state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency or effectiveness with which the management has conducted the affairs of the Company. I hereby declare that the Company has adopted a Code of Conduct for Directors and Senior Management Personnel of the company at the meeting of the Board of Directors held on 15. 2010 Date: August 13. for the year ended on 31. Tungabhadra Dam. A statement of allegiance to the Code of Conduct has been obtained from all the senior management personnel and functional heads. 2010 14 .518402. Hospet . Paonta Sahib. Amaravathi Village. In our opinion and to the best of our information and according to the explanations given to us. : 9281 Place: Hyderabad Date: August 13. Chabolu Village. we certify that the Company has complied with the conditions of Corporate Governance as stipulated in Clause 49 of the Listing Agreement. and such statement of allegiance is being obtained on an Annual basis from Senior Management Personnel and the functional heads.500 055. Andhra Pradesh. It is neither an audit nor an expression of opinion on the financial statements of the Company. Jeedimetla Hyderabad. DECLARATION FOR COMPLIANCE WITH CODE OF CONDUCT Pursuant to Clause 49 I (D) (ii) of the Listing Agreement. xv) Address for Investor’s Correspondence Secretarial Department NCL Industries Limited 7th Floor. as stipulated in Clause 49 of the Listing Agreement of the said Company with stock exchanges. Tungabhadra Board.583225.173025. 2010.03. . The compliance of conditions of Corporate Governance is the responsibility of the Management.12. UNIT – II : RBHLC Zero Mile Point. NandikotkurTQ.2005. Pothulapadu Post. 34/A. RAVI Managing Director CERTIFICATE ON CORPORATE GOVERNANCE To the Members of NCL INDUSTRIES LIMITED We have examined the compliance of conditions of Corporate Governance by NCL Industries Limited. ENERGY UNIT – I : Pothireddypadu. The above Report was adopted by the Board of Directors at their meeting held on 13th August. Andhra Pradesh.2010. Sirmour District.PREFAB UNIT – I : Plot No.500001 E-mail : cs@nclind. Hyderabad .

Up to 25MW comes under small hydro. SEGMENT–WISE PERFORMANCE.38 Lakhs Annexure .68 906. Hydel Energy generation is seasonal in nature and is dependant on the rainfall pattern.10 38. shortage of railway wagons. Your company has been concentrating on large project orders. C. Your company is at present having two small hydel power projects with a total capacity of 15. Your company is on the lookout for collaborations and joint ventures with players in the prefab technology which offer more permanent structures.90. Establishment of joint venture with some European business groups in the field is also on the cards.00 38. 2010 and the Management’s view on future outlook are detailed below: A. and higher transportation costs as well as the pressure of supply – demand imbalances on profit margins in the near future. which was particularly evident for companies in Andhra Pradesh. which have been few and far-between.01 6.27 Lakhs MT to 11. In Lakhs period under review is as follows: Segments Percentage contribution to total turnover Cement 77. Hydel Energy Hydro power projects are generally categorized in two segments i. your company considers that its own railway siding at Kondapalli offers an opportunity to reach out to distant markets in different parts of the country.068. In the Boards Division. INDUSTRY STRUCTURE AND DEVELOPMENT Your Company has four operating Divisions with Cements being the major revenue contributor. Increased supplies due to expansion of existing cement capacities and adverse weather conditions in southern parts of the country likely to be a major threat to cement industry for its survival and growth. production of cement are picking up but there could be pressure on profit-margins due to increase in inputs and logistics costs.292.85 (201.60 2.B MT (proportionate to no.MANAGEMENT DISCUSSION AND ANYALYSIS REPORT The Company’s performance during the year ended 31st March. where better realizations are possible. your company expanded its cement capacity from 6. This in turn resulted in a pressure on the realization and margins. Stiff resistance in this field due to new entrants and adverse changes in tariff structure could have a material impact on the profitability. advent of new materials and substitute products poses a potential market risk. and is suitable only for transitory structures. The Industry Structure and Developments in respect of each of the Divisions are briefly discussed below: Cement The boom in the cement industry brought about creation of additional capacities during the year under review.141 MT 26.17) 604.75 MW is a small player in this field.Mtrs 2.67 40. There is a perception that prefabrication offers nonpermanent solution. In Profit before Lakh) Interest & Tax 5. OPPORTUNITIES AND THREATS During the year under review. small and large hydro. of days in operation against the total install capacity of 19. The performance of the cement companies in Andhra Pradesh was also affected by other factors like flood.781 Sq.47 MU D.38 3771. While the increased competition and pressure on market prices particularly in Andhra Pradesh is a threat. There are however.72 678.e. Boards Your Company is the only manufacturer of Cement Bonded Particle Boards (CBPB) in the country.70 Quantity of Turnover Segment production (Rs. Your Directors are exploring possibilities of acquiring newer technology in the field of prefab structures.53 Boards Prefab Energy 13. However.646. other Boards which compete with the Boards manufactured by the company. OUTLOOK The outlook for cement industry in the medium to long term looks promising though there are concerns of rising input costs especially as a result of steep hike in fuel costs.038 MT 4. civil disturbances and reduced government spending on infrastructure projects during the year under review. However entry of a number of players in the unorganised sector offering lower rates has resulted in a situation where the DGS&D Rates have become unviable for the company. B. the increasing demand for Boards in the construction industry and the new applications for the products offers opportunities. Prefab Your company is pioneer in manufacture and supply of prefab shelters widely accepted by both public and private sector undertakings. 15 .47 Lakh MT). OR PRODUCT-WISE The performance of the various segments during the Rs. Demand and supply. This limits the scope for penetrating the traditional construction industry.

1 % Notes: **(Remuneration as shown above includes salary. contribution to provident. 1975 as amended and forming part of the Directors’ Report for the year ended 31st March 2010. Anand Chairman 16 . commission and . I. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY. 2010 R.55. The projections or expectations are subject to market uncertainties and vicissitudes. RISKS AND CONCERNS.S.30 lakhs Per Annum. The Management continuously reviews the internal control systems and procedures to ensure orderly and efficient conduct of business. the company has 725 employees working in its factories and various offices. G.E. The company has cordial relations with employees and staff. 2006 over 40 years Rs. Your Company does not perceive any serious risks and concerns apart from the normal business risks connected with the industries in which it operates. supply chain.E(Mech) Joint Managing Director Since 25th October. As per the terms approved by the shareholders Less than 0.Raju 64 years B. marketing etc. The company has proper and adequate systems for internal controls in place. CAUTIONARY STATEMENT Some of the statements made in this Report are forward looking. H. Ravi 56 years Diploma holder in Electrical Engineering Managing Director Since 11th January 2003 over 25 years Rs. Shareholders and investors are advised to form their own opinion. For and on behalf of the Board Place : Hyderabad Date: August 13. read with the Companies (Particulars of Employees) Rules.26. MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL RELATIONS FRONT. Emphasis of internal controls prevails across functions and processes covering the entire gamut of activities including finance. distribution. K. F. 1956. This aspect has been covered in the analysis of the Segment-wise performance in the previous paragraphs.40 lakhs Per Annum. ** Executive Director of NCL Energy Ltd. INCLUDING NUMBER OF PEOPLE EMPLOYED. taxable value of perquisites in terms of their appointment and all expenses incurred by the company in providing amenities and benefits to the employees). sales. As on 31st March 2010. of year of experience Remuneration Last employment held Nature of employment Percentage of equity shares held in the company Mr. Annexure ‘C’ Statement of Particulars of Employees pursuant to Section 217 (2A) of the Companies Act. As per the terms approved by the shareholders 4.30 % Mr. based on the perceptions and views of the management.S. and management assumes no responsibilities for the variances if any in the actual scenario emerging. ** Managing Director of NCL Energy Ltd. DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE. Name: Age Qualification Designation: Date of commencement of employment No.

The discrepancies noticed on physical verification of inventory as compared to book records were not material. I have audited the attached Balance Sheet of NCL Industries Limited. Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the accounting standards referred to in sub-section (3C) of Section 211 of the Companies Act 1956.V. 2010] 1. 2010 ANNEXURE TO AUDITOR’S REPORT: [Referred to in paragraph 3 of the Auditor’s Report the members of NCL Industries Limited on the financial statements for the year ended 31st March. of the state of affairs of the Company as at 31st March 2010. = in the case of the Profit and Loss Account. I believe that the audit provides a reasonable basis for my opinion. (e) On the basis of written representations received from the directors. the Balance Sheet. as at 31st March 2010. as on March 31. which to the best of my knowledge and belief. the frequency of verification is reasonable. 3. in my opinion. and the related Profit and Loss Account and Cash Flow Statement for the year ended on that date annexed thereto. Further to my comments in the Annexure referred to in paragraph 3 above. (a) The Company has maintained adequate records showing full particulars including quantitative details and situation of fixed assets. Those Standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. the Company is maintaining proper records of inventory. proper books of account as required by law have been kept by the Company so far as it appears from my examination of those books. 2004 (the ‘Order’) issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act. 4. 2010 and taken on record by the Board of Directors. An audit includes examining. 2. (b) In my opinion. secured or unsecured. My responsibility is to express an opinion on these financial statements based on my audit. As required by the Companies (Auditor’s Report) Order. none of the directors is disqualified as on that date from being appointed as a director in terms of clause (g) of sub-section (1) of Section 274 of the Act. These financial statements are the responsibility of the Company’s management. the procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. these have substantially been confirmed Membership No.500 lakhs including Rs. The rate of interest and other terms and 17 . P. the said financial statements together with the notes thereon and attached thereto give in the prescribed manner the information required by the Act and give a true and fair view in conformity with the accounting principles generally accepted in India: = in the case of the Balance Sheet. (b) the company has taken Inter Corporate Deposits aggregating to Rs. : 9281 by them. as well as evaluating the overall financial statement presentation. 1956 I give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order. 2003 as amended by the Companies (Auditor’s Report) (Amendment) Order.250 lakhs outstanding at the end of last year from NCL Alltek & Seccolor Ltd and repaid the entire amount during the year. on a test basis. of the profit for the year ended on that date. (a) The inventory (excluding stocks with third parties) has been physically verified by the management during the year. In my opinion. the frequency of verification is reasonable. I report that: (a) I have obtained all the information and explanations. 3. Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account. of the cash flows for the year ended on that date. to companies. (d) In my opinion. An audit also includes assessing the accounting principles used and significant estimates made by management. (c) In my opinion and according to the information and explanations given to us. In my opinion. (c) The Balance Sheet.RATNAM Chartered Accountant Place : Hyderabad Dated : May 30. In respect of inventory lying with third parties. and = in the case of the Cash Flow Statement. (f) In my opinion and to the best of my information and according to the explanations given to me. firms or other parties covered under the section 301 of the Act. 2.AUDITORS REPORT To the Members of NCL INDUSTRIES LIMITED 1. necessary for the purposes of my audit. (b) In my opinion. According to the information and explanations given to me(a) the company has not granted any loans. fixed assets disposed off by the Company during the year were not substantial and therefore do not effect the going concern assumption. (b) A substantial portion of the fixed assets of the Company has been physically verified by the management during the year and no material discrepancies between the book records and the physical inventory have been noticed. I conducted the audit in accordance with the auditing standards generally accepted in India. (c) On the basis of my examination of the inventory records. evidence supporting the amounts and disclosures in the financial statements.

made a detailed examination of the records with a view to determine whether they are accurate or complete.12 Central Excise Disputed Excise Tribunal 274. the term loans have been applied for the purposes for which they were obtained. 21.57 (APGST & VAT) High Court 27. on an overall basis. 6. 16. The repayments are regular. no guarantee is given by the Company. 2.33. 7.4.56 Tax on Court Mining of A. Area The Company has no accumulated losses as at March 31. I have broadly reviewed the books of account maintained by the Company in respect of products. 19. 58AA or any other relevant provisions of the Act and the rules framed there under. Therefore. 5. employees’ state insurance. sales-tax. carried out in accordance with the generally accepted auditing practices in India.400 share warrants (Convertible on or before 16-09-09) to Companies covered under section 301. for loans taken by others from banks or financial institutions during the year. Pending In Lakhs) Sales Tax Act Sales Tax Tribunal 21. No. In my opinion and according to the information and explanations given to me. in the case of deposits accepted from the public. 13. on the basis of my examination of the books and records of the Company. cess and other material statutory dues as applicable with the appropriate authorities. In my opinion.22 CEC 84. 1. which have been used for long-term investment. 9. the provisions of clause 4 (xiv) of the Order are not applicable. The Company has not issued any debentures during the year. incometax. The Company has not granted any loans and advances on the basis of security by way of pledge of shares. debentures and other securities. 20. nor have I been informed of such case by the management. According to the information and explanations given to me. 11. 8. debentures and other investments.17. 18. In my opinion and according to the information and explanations given to me. excise duty. the maintenance of cost records has been prescribed under clause (d) of sub-section (1) of Section 209 of the Act and are of the opinion that prima facie. 14. Further.52 dues High Court 29. [b] The disputed statutory dues not deposited on account of matters pending before appropriate authorities are as under Sl. fixed assets and for the sale of goods. the prescribed accounts and records have been made and maintained.2010 Membership No. I have neither come across any instance of fraud on or by the Company. investor education and protection fund. and according to the information and explanations given to me.P. and (b) the transactions made in pursuance of such contracts or arrangement has been made at prices which are reasonable having regard to the prevailing market prices at the relevant time. 10. 12. [a] According to the information and explanations given to me and the records of the Company examined by me. According to the information and explanations given to us. I have not. no Order under the aforesaid Sections has been passed by the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any court or any other Tribunal on the Company. the Company has complied with the directives issued by the Reserve Bank of India and provisions of Sections 58A . during the year. where pursuant to the Rules made by the Central Government of India. the Company has adequate internal audit system commensurate to the size and operations of the company. where applicable.V.84 Nala Tax Non-Agriculture High 43. The Company has made preferential allotment of 33. Out of this 11. 15. 3. conditions are prima facie not prejudicial to the interest of the company. customs duty. The company has not made any public issue during the year. I have neither come across nor have been informed of any continuing failure to correct major weaknesses in the aforesaid internal control procedures. wealth tax. having regard to the explanation that certain items purchased are of special nature for which suitable alternative sources do not exist for obtaining comparative quotations.RATNAM Chartered Accountant Name of the statute Nature of Dues Place : Hyderabad Dated : May 30. the Company is generally regular in depositing the undisputed statutory dues including provident fund. : 9281 18 . The Company is not a dealer or trader in shares. In my opinion and according to the information and explanations given to me(a) the particulars of contracts or arrangement referred in section 301 of the Act have been entered in the register required to be maintained under that section. and according to the information and explanations given to me. P. Forum Amount where (Rs. According to the information and explanations given to me.652 warrants are converted into Equity shares and allotted during the year. 17. there are adequate internal control procedures commensurate with the size of the Company and the nature of its business for the purchase of inventory. however. securities. there are no funds raised on a short-term basis. The provisions of any special statute applicable to chit fund / nidhi / mutual benefit fund/ societies are not applicable to the Company as it is not in such business. 2010 and it has not incurred any cash losses in the financial year ended on that date or in the immediately preceding financial year. The Company has not defaulted in repayment of dues to any financial institution or bank or debenture holders as at the balance sheet date. in my opinion. During the course of my examination of the books and records of the Company. and vice versa. service tax. According to the information and explanations given to me.

15 47.717.159.13 1 2 3.73 0.69 4.703.BALANCE SHEET AS AT 31ST MARCH.086. LOANS AND ADVANCES a) Inventories b) Sundry Debtors c) Cash & Bank Balances d) Other Current Assets e) Loans & Advances LESS: CURRENT LIABILITIES & PROVISIONS a) Current Liabilities b) Provisions 6 57.68 7.04 6.069.66 14.252.60 600.16 4. 2010 N.287.38 3 4 5 32.328.151.08 39.97 346.49 14.14 47.10 4.96 55. Vice President (F&A) R.74 38.151.01 55.150.493.72 36.407. Arun Kumar Company Secretary 9 37.65 13.921.195.794.82 32.05 11.15 8 5.317.108.319.534.23 23. 2010 Rs. Prasad Sr.904.10 2.G.Ratnam Chartered Accountant Membership No.606.01 6.93 27.61 7.75 4.67 4.810.98 8.93 4.87 1.01 453.097.999.226.10 3.V.13 12.899.89 7 4.581.381.44 4.08 As at 31-3-2010 As at 31-3-2009 19 . In Lakhs Schedule SOURCES OF FUNDS SHAREHOLDERS FUNDS: a) Share Capital Share Application Money (Warrants) b) Reserves and Surplus LOAN FUNDS: a) Secured Loans b) Unsecured Loans Deferred Tax TOTAL APPLICATION OF FUNDS FIXED ASSETS: a) Gross Block b) Less: Depreciation c) Net Block d) Capital Work-in-progress CURRENT ASSETS.845.99 46.54 MISCELLANEOUS EXPENDITURE TOTAL NOTES TO ACCOUNTS As per my report of even date attached 16 For and on behalf of the Board K.74 10.908.36 6.00 10.775.406.98 9.04 38. Ravi Managing Director P.195.64 1.702.606.443. Anand Chairman T.998.44 28.709.V.300.15 1.93 47.494.G.S.18 32.: 9281 Place: Hyderabad Date: May 30.879.107.205.75 1.

69 349.69 2.254.83 10 23.35 16 For and on behalf of the Board K.03 4.Current Provision for Tax .82 1.78 5.075.00 5.41 101.05 17.066.03 1.190.78 3.V.670.513.033.69 2.170.670.237.471.457. Prasad Sr.325.48 26.74 32.337. Ravi Managing Director P.62 5.78 2.Ratnam Chartered Accountant Membership No.PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH. Administration. Obsolescence & Amortisation TOTAL Profit before Prior Year Adjustments Net Prior Year Adjustments Profit Before Tax Fringe Benefit Tax Provision for Tax .66 2.378.40 9. Anand Chairman T.37 59. 2010 N.33 2.397. Selling and Other Expenses Interest Stock Variation Depreciation.190.680.G.914.339.228.00 3.54 11 12 13 14 15 20 . 2010 Rs.08 2.80 478.28 23. Arun Kumar Company Secretary For the year ended 31-3-2009 42.242.81 23.V.38 1.500.: 9281 Place: Hyderabad Date: May 30.56 21.34 4.76 838.701.087.77 199.78 2.579.500.463.60 1. In Lakhs Schedule INCOME: Gross Turnover Less: Inter Segment Transfers Less: Taxes and Duties Net Turnover Other Income TOTAL EXPENDITURE : Manufacturing.60 3.82 6.32 5.Previous Years Profit After Tax Deferred Tax Net Profit Profit brought forward from previous year PROFIT AVAILABLE FOR APPROPRIATIONS APPROPRIATIONS: Transfer to General Reserve Dividend Paid on the shares allotted subsequent to the Balance Sheet Date for 2008-09 Provision for Dividend Provision for Dividend Tax BALANCE CARRIED TO BALANCE SHEET Earinings per Share (in Rs.06 79.) Basic Diluted NOTES TO ACCOUNTS As per my report of even date attached For the year ended 31-3-2010 33.78 82.528.12 19.28 (392.38 5.46 1.271.02 3.985.54 15.G.205.356. Vice President (F&A) R.85 30.96 181.81 2.846.72 110.84 30.72 2.40 1.04 8.153.S.17) 2.043.22 845.39 3.49 143.113.

27 (3.79) (6.70 (1.G.90 3.24 1.382.633.27 (1.18) 2008 .58) 4.185.384.81 AUDITORS CERTIFICATE I have verified the above Cash Flow Statement of NCL Industries Ltd from the Audited Annual Financial Statements for the Year Ending 31st March 2010 and 31st March 2009 and found the same in accordance therewith and also with the requirements of caluse 32 of the Listing Agreements with Stock Exchanges.938.23 12.11 (19.76) (965.82) (238.CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH. Prasad Sr. 2010 Rs.390.486.39) (1.91 (88.S.196.96 11. Vice President (F&A) R. As per my report of even date attached P.G.58) 1.68) 198.433.08 7.326. Arun Kumar Company Secretary 21 .021.064. In Lakhs 2009 .38 687.34 (5.2010 CASH FLOW FROM OPERATIONS Net Profit / (Loss) before Tax & Extra .Ordinary Items Adjustments for: Depreciation.V.650.82) 42.48 4.78) (762.20 3.534. Ravi Managing Director N.033.87) (940.090.2009 4.64) (2.26) 1.95 1.78 1.534.67 12.13) (3.063.77) 1.33 (10.396.39 1. 2010 For and on behalf of the Board K.40) 134.611.00 1.Ratnam Chartered Accountant Membership No.046.599.35) 44.217.081.34) 1.039.69 (1.64 5.55 (1.639.19 1.10 (18.087.56 276. Obsolescence & Amortisation Net Prior Year Adjustments Profit / (Loss) on Sale of Fixed Assets Operating Profit before Working Capital Changes Adjustments for changes in: Receivables Inventories Other Current Assets Current Liabilities Bank Borrowings Net Cash Flow from Operations (A) Cash Flow from Investing Activities : Sale of Net Fixed Assets Purchase of Fixed Assets & WIP Miscellaneous Expenditure Net Cash Flow from Investing Activities (B) Cash Flow from Financing Activities : Sales Tax Deferrment Loan Net Proceeds from Issue of shares against share warrants Capital Investment Subsidy Term Loans Deposits Hire Purchase Fringe Benefit Tax Dividend & Tax Income Tax Interest Income Net Cash Flow from Financing Activities (C) Net Increase in Cash & Cash Equivalents (A+B+C) Opening Cash & Cash Equivalents Closing Cash & Cash Equivalents 2.86) (373.00) (526.77) (1. Anand Chairman T.778.48 82.356.81 453.46 155.56 110.08) 1.95 (17.71 2.179.: 9281 Place: Hyderabad Date: May 30.V.84) (17.27 2.833.817.96 30.09) (10.285.83 9.162.

00 210.00 3.26 2.67 28.493.724.12 2.000) Equity Shares of Rs.00 0.04 6.325.18 25.49.470. banks and others TOTAL 5.493.37.262.494.73 3.14 1.381.45 595.51 1.65 576.604.709.775. SHARE CAPITAL : AUTHORISED 6.00 6.00 9.04 1.65 3.91 210.97 346.15 0.724.10/.00 3.10/.800.18 2.300.74 6.97 3.57 3.254.96 210.15 1.106.95 22 .683) Equity Shares of Rs.00 870.16 1.each Share Application Money (Warrants) TOTAL 2.493.22 4.38.60 10. RESERVES AND SURPLUS CAPITAL RESERVE : As per last Balance Sheet Add: Central Subsidy Received SHARE PREMIUM As per last Balance Sheet Add: Received During the Year GENERAL RESERVE : As per last Balance Sheet Add: Transfer from Profit and Loss Account Profit and Loss Account Balance TOTAL 3.775.81 6.91 30.287.91 As at 31-3-2009 6.023.73 0.150.200.683) Equity Shares of Rs.500.429.200.591.96 391.381.38.00 1.00 240.98 3.00 0.612.69 4.113.728.91 0.13 1.each PAID UP CAPITAL 3.each ISSUED AND SUBSCRIBED 3. UNSECURED LOANS: Sales Tax Deferrment Loan Deposits from Public & Shareholders Deposits / Loans from Stockists.10/.714.00.19.36 4.45 460.075.153.74 735.37.26 2.086.96 1. In Lakhs As at 31-3-2010 1.709.70 1.73 3.319.SCHEDULES Rs.90 32.49.000 (Previous Year 6.Depreciation NET DEFERRED TAX 2.335 (Previous Year 3.00.20.19. SECURED LOANS: Rupee Term Loans Working Capital Borrowings (Cash Credits) Lease / Hire Purchase Loans TOTAL 4. DEFERRED TAX ASSET : Others LIABILITY : Arising on account of timing difference .36 24.714.00 0.335 (Previous Year 3.701.96 2.20.54 3.

174.78 10.39 8.94) 48.84 533.845.252.77 Description of the Asset FREE HOLD LAND BUILDINGS PLANT AND MACHINERY FURNITURES AND FIXTURES OFFICE APPLIANCES & EQUIPMENT VEHICLES Capital Work in Progress TOTAL PREVIOUS YEAR 23 .921.046.25 98.78 108.998.174.152.24 3.998.097.985.739.252.49 3.41 282. In Lakhs Gross Block As at 01.93 7.14 47.619.13 1.95 1.140.82 16.49 6.003.369.204.05 11.24 4.66 58.845.43 6.74 15.224.988.55 2.94 17.57 2.107.80 73.51 79.2009 1.10 713.083.03.47 45.98 11.93 1.06 30.21 39.2010 Transfer Depreciation Net Block As at As at As at 31.99 10.2009 Additions 22.54 10.03.58 1.390.02 20.82 57.2010 31.54 1.26 158.352.89 39.71 1.231.90 1.391.53 27.14 15.514.491.03.13 23.573.74 78.05 19.79 40.108.979.747.78 4.097.47 6.88 48.096.53 970.794.08 39.19 203.49 6.13 7.2009 For the Year ended 31.99 36.93 8.66 41.45 123.205.99 8.161.369.85 28.65 46.17 86.391.SCHEDULES 6.03.03.69 9.04.64 As at As at Transfer 31.328.62 15.43 257.799.82 1.2010 31.921.52 7.921.2010 01.053.83 48.75 1. FIXED ASSETS Rs.226.59 21.06 15.04.96 37.08 (10.46 8.63 181.78 1.083.134.55 1.94 519.33 22.407.

01 479.235.48 632.80 529.75 1.93 10.741. Accrued Interest LOANS AND ADVANCES : (Unsecured .04 417.518. In Lakhs As at 31-3-2010 7.41 1.10 4.74 4.16 11.60 1.02 167.534.489.15 20.226.89 15. LOANS & ADVANCES CURRENT ASSETS : A.069.41 4.810.094.44 810.66 14.251.38 549.443.52 453.61 403. Inventories a) Stores & Spares b) Raw Materials c) Other Materials d) Work-in-process e) Finished Goods SUB TOTAL B.30 22.SCHEDULES Rs.94 610.55 705.03 5.72 24 .42 9.82 32.22 1.32 644. E.96 569.606.243.09 4.67 1.59 263.49 14. on hand & Remittances in Transit c) Bank Balances (with Scheduled Banks) i) Current Account ii) No Lien Current Account iii) Branch accounts iv) Deposits With Banks SUB TOTAL D.44 5.519.09 4.49 540.66 1.406.15 1.01 149. CURRENT ASSETS.63 35.14 568.17 85.99 81.65 118.16 9.410.250.09 4.Considered Good) a) Advances for purchase of Raw Materials and Other Materials b) Advances to Employees c) Other Advances d) Prepaid Taxes & Duties e) Deposit with Electricity Board and Others f) Prepaid Expenses g) Claims Receivables h) Sales Tax paid Under protest SUB TOTAL TOTAL 241.660.91 4.71 As at 31-3-2009 1.23 23.93 157. Sundry Debtors (Unsecured & Considered good) a) Debts outstanding for a period exceeding six months b) Other Debts SUB TOTAL C.43 4.60 1.08 24.01 283.159.56 1. Cash and Bank Balances a) Cash on Hand b) Cheques/DDs.899.81 4.67 166.

244. In Lakhs As at 31-3-2010 8.702.38 520.54 171.64 As at 31-3-2009 9.18 1.Income TOTAL 44.999.109.384.99 250.10 5.01 38.67 (5.17 1.28 42.43 109.32 989.629.04 6.24 1.317.38 3.78 (1.703.01 TOTAL 6.93 10. MISCELLANEOUS EXPENDITURE Mining and Prospecting TOTAL 37. OTHER INCOME Interest Net Profit / (Loss) on Sale of Assets Scrap Sales & Misc.31 2.SCHEDULES Rs.26 408.61 838.00 191.11 273.717.75 600.85 25 . CURRENT LIABILITIES & PROVISIONS A CURRENT LIABILITIES : Creditors for : Goods and Services Capital Goods Expenses Interest accrued but not due Advances from Stockists and Others Unpaid Dividend Statutory Liabilities 2.241.07 152.26 4.93 38.60 B PROVISIONS : Income Tax Employee Retirement Benefits Dividend & Dividend Tax 0.01 37.30 2.559.034.45 1.79 154.36 181.27 199.25 134.68 1.18) 144.87 287.77) 156.

53 743.50 55.21 327.13 74.528.26 4.14 989.57 54. Rates & Taxes n) Bank Charges o) Vehicle Maintenance p) Office Maintenance q) Donations r) Bad Debts written off s) Security Services t) Miscellaneous Expenses SUB TOTAL 9.683.Wages and other Employee Benefits b) Contribution to P.08 16.108.52 17.858.752.15 874.20 60.878.23 34.42 11.82 8.42 104.31 63.99 49.762.20 12.52 5.237.73 10.96 1.60 47.30 118.78 5.52 64.73 3.15 5.24 For the Year ended 31-3-2009 835.09 1.47 2.02 121.65 0. & E.10 3.I.85 3.56 112.A MANUFACTURING EXPENSES Consumption of Raw Materials Consumption of Stores and Spares Consumption of Trading Goods Less: Consumption of Inter Segment Transfer Materials Net Consumption of Materials Power Fuel Packing Materials & Expenses Direct Manufacturing Expenses: a) Labour Charges b) Erection & Fabrication Charges c) Others Repairs and Maintenance SUB TOTAL B STAFF COSTS a) Salaries.81 98.SCHEDULES Rs.92 0.10 4.229.35 88.02 765.65 20.91 1.53 11.25 0.33 1.94 91.38 2. In Lakhs For the Year ended 31-3-2010 11.79 21.577. SUB TOTAL C ADMINISTRATION EXPENSES a) Directors’ Remuneration b) Travelling & Conveyance c) Directors’ Travelling & Conveyance d) Directors’ Sitting fees e) Printing & Stationery f) Postage and Telehones g) Legal Charges h) Professional Charges i) Insurance j) Auditors’ Remuneration i) Statutory Audit Fees ii) Cost Audit Fee iii) Tax Audit Fees iv) Certification & Reimbursement of Expenses k) Internal Auditors’ Remuneration l) Staff Recruitment and Training m) Licences.06 14.25 0.303.41 26 .22 3.32 762.65 20.34 112.792.74 2.15 0.587.58 2.32 1.12 78.778.20 21.03 132.058.60 10.71 63.11 7.11 41.83 7.070.378.94 107.57 12.02 70.84 63. Rents.33 2.90 0.15 0.F.886.S.21 10.440.202.85 224.05 3.88 50.82 54.172.20 27.59 14.08 2.10 951.81 1.

605.56 1.34 82.09 DECREASE / (INCREASE) 14.01 1.846.48 1.01 TOTAL NET PRIOR YEAR ADJUSTMENTS INCOME : (PROVISIONS NO LONGER REQUIRED) Interest Others TOTAL EXPENSES: Others TOTAL NET PRIOR YEAR ADJUSTMENTS 34.95 350.28 941. 2.68 571.18 17.48 2.519.087.367. 3.01 2.87 1.10 2.67 1.68 145.043.518.605.03 1.976. Deprecaition as per Schedule .51 85.06 388.356. In Lakhs For the Year ended 31-3-2010 D SELLING & DISTRIBUTION EXPENSES a) b) c) Advertisement & Publicity Commission & Selling Expenses Transport & Handling 141.28 49.67 1. INTEREST 1.24 553.428.6 Provision for Impairment Amortisation 2.21 2.083. Term Loans Working Capital Deposits & Others TOTAL STOCK VARIATION Opening Stock i) ii) Work in progress Finished Goods 85.00 82. 3.34 27 .35 3.66 32.65 1.28 34.81 256.10 481.236.50 1. DEPRECIATION.684.93 23.56 1.48 79.299.30 2.39 321.46 For the Year ended 31-3-2009 SUB TOTAL TOTAL 12. 15. 2.55 4. 13.47 4.SCHEDULES Rs.513.81 1.352.66 1.78 535.69 0. OBSOLOSCENCE & AMORTISATION: 1.997.59 110.59 145.17) Closing Stock i) ii) Work in progress Finished Goods 479.033.519.48 (392.620.

58 lakhs (Rs.56 lakhs) Secured Loans: (1) Term Loans: Facility Term Loans from Banks and Financial Institutions Vehicle Loans Nature of Security pari passu first charge on fixed assets of the Company & second charge on current assets of the Company (both present & future) except receivables of Energy Division. Revenue Recognition: Revenue from Sale of Cement and Boards is recognised on accrual basis. 5.No A B 28 . except assets of Energy Division. 3.69 lakhs (Rs. Hypothecation of respective vehicles S. Inventories: Inventory of (i) Raw materials and other materials are valued at weighted average cost (ii) stores & spares at cost. 48. Foreign Currency Transactions Loss or gain due to fluctuations in foreign currencies is recognized as required in AS 11.1994 issued by Ministry of Power (Department of Power). Central Excise Liability Rs. (iii) Work-in-Process at cost of material plus labour and other overheads and (iv) Finished Goods at cost or net realisable value whichever is lower. 4. iv. ACCOUNTING POLICIES AND NOTES ON ACCOUNTS SIGNIFICANT ACCOUNTING POLICIES Accounting Concepts Accounts are based on historical cost convention and prepared in accordance with the Generally Accepted Accounting Principles and applicable Accounting Standards in India. Retirement Benefits: Employee retirement benefits are provided on actuarial valuation as required in AS-15.345. 1.56 lakhs (Rs.150. NOTES ON ACCOUNTS: Contingent Liabilities not provided for i. 337. 49. Counter-Guarantees given to Financial Institutions / Banks – Rs.47 lakhs) Disputed Sales tax liability Rs. iii. Depreciation on fixed assets of Energy Division is provided on straight line method at the rates and in the manner prescribed as per notification no.57 lakhs) for which appeals have been filed by the company.08 lakhs (Rs.388. Fixed Assets and Depreciation Fixed Assets are stated at cost of acquisition and putting to working condition.151 dated 29. 43.03. 1956.43. Depreciation on Buildings and Plant & Machinery is provided on Straight Line Method and on other assets on Written Down Value method as per the Companies Act.39 lakhs) for which appeals have been filed by the company. 6. Revenue from Energy division is recognised on the basis of energy units delivered at rates provided under power purchase agreement(s) and as modified subsequently by regulatory/court orders. 2. 7. Disputed Nala Tax regarding Non Agricultural Tax on Mining areas Rs. B 1. 2.NOTES TO ACCOUNTS 16. Revenue from Prefab division is recognised based on percentage completion of contract(s) as required in AS-7. Taxes on Income Deferred tax is provided as required in AS-22. A. ii.

In Lakhs Year ended 31.20 9.3. Working Capital: Working Capital SBH.78 28.38 4.No 1.85 5. IDBI Bank & Axis Bank Nature of Security Pari passu first charge on current assets of the Company excluding receivables of Energy Division (both present & future) and second charge on fixed assets of the company .02 42.04 11. 2010 1170.03. 3.72 33.08 330.695. Boards.62 5. in Lakhs No.80 A. Cement. of Shares in Lakhs Rs Rs Year Ended 31.19 9. Earnings per share: Basic Earnings per share has been computed by dividing net profit after tax by the weighted average number of shares outstanding for the period.04 Year Ended 31 .985.86) 29 .35 0.771. Diluted earnings per share have been computed using the weighted average number of shares and dilutive potential equity shares outstanding during the period. of shares used in computing basic earnings per share Basic Earnings per Share (a/b) Effect of potential equity shares for preferential allotment Weighted average no. of shares used in computing diluted Earnings per Share Diluted earnings per share Effect of potential equity shares for preferential allotment (c-f) Units Rs. The above term loans and working capital are guaranteed by promoter directors in their personal capacity.27 4.NOTES TO ACCOUNTS 2) S.597.2009 27.378.37 8. No.82 37. 1 Segment Revenue/income a) Cement Division b) c) d) Boards Division Prefab Division Energy Division TOTAL Less : Inter segment revenue Net Sales/income from Operations 26.528.457. Prefab and Energy Divisions.54 0.03.914.18 349.00 678. Segments are identified and reported as required in AS 17: PRIMARY DISCLOSURES: Year ended 31.646.328. of Shares in Lakhs Rs.60 2 Segment Results: PROFIT BEFORE INTEREST & TAX a) b) Cement Division Boards Division 3.50 4.37 3. of Shares in Lakhs No. 3.595.068.39 0 349.2010 Rs. Segment Reporting: The company operates in four segments namely. 2009 2.60 2.078.385.99 3.68 906.292.78 344.02 (123. Particulars a b c d e f g Net Profit after Tax Weighted average no.14 839.38 5. The reconciliation between basic and diluted earnings per share is as under.

183.084.553.136.114.27 4.209.01 4.82 5. profit on sale of investments.07 4. cash and bank balances. Other disclosures: Basis of pricing Inter segment transfers and any change therein Types of products and services in each business segments 41.852.339.17 The main customer base of company’s products are in India only All manufacturing units are located in India Pl Refer Sch 6 to Accounts Inter division transfers of goods are at market price. SECONDARY DISCLOSURES: Revenue from external customers by location of customers Carrying amount of segment assets by location of assets Costs to acquire tangible and intangible fixed assets by location of assets. provision for contingencies and income tax (both current and deferred). It does not include interest income on inter-corporate deposits. provision for contingencies and income tax. reserves and surplus.441. Segment assets and liabilities do not include investments.74 3.156. b) Segment revenue and expenses: Segment revenue and expenses are taken directly as attributable to the segment.69 2.90 6.10 TOTAL Less: i) Interest ii) Other un-allocable expenses net off un-allocable income TOTAL PROFIT BEFORE TAX 3 Capital employed (Segment Assets – Segment liabilities) a) b) c) d) e) Cement Division Boards Division Prefab Division Energy Division Unallocated TOTAL B. inter corporate deposits.20 1.89 47. Segment accounting policies: In addition to the significant accounting policies applicable to the business as set out in Schedule 16A – Notes to Accounts.56 55.28 2.337.NOTES TO ACCOUNTS c) d) Prefab Division Energy Division (201.16 1.75 5.246. inventories.426. Generation of Hydel power. the accounting policies in relation to segment accounting are as under: a) Segment assets and liabilities: Segment assets include all operating assets used by the segment and consist principally of fixed assets.58 3.72 1.513.181. sundry debtors and loans & advances less current liabilities. interest expense.831.06 4. borrowings.41 195.43 32.17) 604.158.10 514.846. (1) (2) (3) (4) OPC/PPC/53 S Cement Plain and laminated Cement Bonded Particle Boards Prefab Shelters. 30 .

NCL Wintech India Limited.78 66. Key Management personnel Mr.50% 36.00 0. 55. 24. Enterprises controlled by key management personnel/relatives of key management Personnel 1.083.72 5.00 0.47 132.00 6.90 27.78 Commission @ 0.32 250.04 0.10 0.05 lakhs Transactions of Enterprises controlled by Key Management personnel / Relatives of Key management Personnel Rs.47 2.54 Profit on sale of Assets 0. K.00 36.352. A)MANAGERIAL REMUNERATION: Particulars Salary HRA Cont.18 2.25 26. K.60 227.40 lakhs Rs.00 1.25% 6. Raju Executive Director 2009-10 2008-09 11. In Lakhs PREVIOUS YEAR 2985.50 15.36 1.83 55.535.00 0.25 4. In Lakhs DESCRIPTION CURRENT YEAR PREVIOUS YEAR i) ii) iii) iv) v) vi) Sale of Finished Goods Purchases / Services ICD Received ICD Repaid Interest Expenses reimbursement 3. NCL Homes Limited 3.34 3.00 2.89 4.00 0.30 Sitting fee 3.10 1.00 0.54 Provision for Income Tax 101.00 1.458.66 1.55 478.79 853.00 0. Managing Director 2009-10 2008-09 2009-10 2008-09 12. to PF Commission Others Total B) Mr.88 0.05 5. b) Related Party Transactions for the year ended 31st March 2010.N.352.71 3.00 34.00 0.47 0. NCL Alltek & Seccolor Limited 2.24 0.00 0.13 Commission @ 1.54 2.In Lakhs Mr.083.083.00 0. Kakatiya Industries (P) Limited 4.00 3.91 Mr.00 0.811.47 7.82 Directors Remuneration 107.24 0.066.00 200.54 450.00 500.30 23.11 1.77 3. K. Gautam Executive Director 2009-10 2008-09 2.90 7. Nagarjuna Cerachem (P) Limited 5.43 13.170.00 0.06 1.71 179.364.30 9.13 31 . a) Related Party Disclosures List of Related Parties & Relationships i.88 0.65 Loss on Assets sold / discarded 1.80 0.40 95. Ravi.826. S.00 0.78 ADD: Depreciation under section 350 2.00 Rs.00 0.00 16.47 4.80 1.66 17. Ravi Mr.00 6. Raju Managing Director Jt.352.98 Rs.00 14.452.64 66.15 3.NOTES TO ACCOUNTS 5.25 18. Managing Director ii.67 LESS: Depreciation under section 350 2.S. Key Management Personnel i) Remuneration to key management personnel Remuneration to relatives of key management personnel Rs.18 CALCULATION OF COMMISSION PAYABLE TO MANAGING DIRECTOR CURRENT YEAR Net Profit as per P & L A/c 1.77 3. P.98 3.00 0.81 Deferred Tax 1.

3.63) 5. Amounts of incentives from Industries Department (Govt.60 Interest Cost 10.314 2. 258. In Lakhs Simhapuri 16.120 (2) Paonta sahib M. 10. MAT for the year is to be recognised on payment.652 Share warrants were converted and allotted to promoters / promoter group for which full value of Rs.2010 Particulars Gratuity Leave Encashment Current Service cost 25.80.T 3.46 * Line 1 .64 16.04.70 Total Cost 21.80) Present value of obligations as at 31.000* 2. Based on the information available with the Company.25% of the profits earned by the Company calculated in the above manner is provided towards commission payable to non executive directors of the Company.53 0.70 Net Actuarial (Gain) / Loss including settlements (14.000 3.34 13. of days in operation 32 .30. Employee Retirement benefit plans as per actuarial valuation: a) Expense recognized in profit and loss account for the year ended 31. Out of 33.08 Lakhs (Rs.2 Proportionate to the no. 11.2. thereby completing the conversion of all the outstanding Share Warrants.53 0. no provision is made for MAT amounting to Rs.000 MTs and for Line .T 30. 45 per share was received.NOTES TO ACCOUNTS An amount of Rs. Cumulative total amount of Rs. 7.Mtr ----38.41 21.000 50.000 2.000 22.81.09.66 15.909 c) Prefab Sq. 307.62 Lakhs (Rs.51 14. Rs.000 15. of days in operation ** Line 1 . The Cement Expansion Projects at Simhapuri and Kondapalli are commissioned and the expenditure capitalized during the year is as under.2 Proportionate to the no.03.654.30.650 (2) Kondapalli M.13. 64. 2005 is yet to be received.2010 and Changes in present value obligations Particulars Gratuity Leave Encashment Present value of obligations as at 01.50 Lakhs) & Rs. 9.T 50. Small and Medium Enterprises outstanding for more than 45 days as at 31st March 2010 is Rs.40 Kondapalli 3984.03.00 b) Liability recognized in the Balance Sheet as at 31. 12.47 lakhs on plant and machinery of Boards Division pursuant to order of CESTAT dated March 24.322 d) Energy MU 53 53 40. 55. 6.400 Share Warrants issued in the year 2007-08 and convertible on or before 16.13 lakhs being 0.710 15.846 b) Cement Boards (1) Simhapuri M.08. of Andhra Pradesh) receivable for the year amounting to Rs. Nil.17.203.T 8.2009 into Equity Shares of Rs 10 each fully paid up.95.000 MTs and for Line .827 2.2009 155.781 1.46 Current Service cost 25.25.328 24.51 14.2010 166.47 36.70 Lakhs (Rs.07 Lakhs) receivable is included in claims receivable. Refund of Adhoc Custom Duty of Rs. Additional Information required under Part II of Schedule VI .70 Actuarial Loss /( Gain) (14. Confirmations of balances from all Debtors. 8.97. Creditors etc were not received.54.60 24. 397. during the year 11.45) (12. 242. i) CAPACITY AND PRODUCTION: Rs.000 30.70 Settlements (10.33.63) 5. amount of dues to Micro.94 20639.57 Lakhs) are deducted from Power and Duties & Taxes respectively.000** 3.59 lakhs on the profit for the current year.03.60 Interest Cost 10. As per Guidance note of The Institute of Chartered Accountants of India. 29.97. In Lakhs PRODUCTS UNITS INSTALLED CAPACITY PRODUCTION (QTY) 2009-2010 2008-2009 2009-2010 2008-2009 a) Cement (1) Simhapuri M. 14.

67 356. Clinker c.46 — 4286.12 42.585 1.Laterite Gypsum Iron Ore / Powder Fly Ash Clinker Purchased/Transfer from Mattapally Plant Cement Transfer to Kondapalli Plant BOARDS DIVISION Cement Wood Chemicals(Boards) Paper Chemicals (Lam) PREFAB DIVISION Cement Boards Steel Others TOTAL 2009-2010 Qty M.18 328.73 134.09 18114 — — — 1455.05 139.860 25.01 123.30 M.02 282.30 42457.138 — — 130.19 1756.31 386.05 211403 4525.34 59.000 20.66 325.550 — — 3. Cement {Incl 27. Cement Boards (incl 3344.470 25.81 819.Ts (30. SPARE PARTS AND CONSUMABLES a) RAW MATERIALS CONSUMED Unit CEMENT DIVISION Limestone Al.89 812.03.60.131 13.056 23.892 MTs py) for self consumption} b.06 0 0 1518.01 4017.920 28.27 33914.311 Value 837.14 26.Ts (6141 MTs) for self consumption) d.NOTES TO ACCOUNTS ii) TURNOVER AND STOCKS: PRODUCTS UNITS Rs.68 906.02 146.Ts) STOCKS As on 31.Tonnes “ “ “ “ “ 6.131 3.62 17311 — — — 1375.Mtr M. Energy (MU) f.69 165.Ts) As on 31.Ts) 2009-2010 QTY VALUE (M.034 13.366 1. Trading Turnover TOTAL 587695 21767.2010 QTY VALUE (M.90 0 2706 — 63.13 25.01.52 9577.74 2019.96 — 38840 38781 40.86 5357.33 2068. In Lakhs 2008-2009 Qty 5.239 2.906 1.Ton 33 .72 30.90 41.19 Rs. STORES.57 30.89 32.48.00 4664.81 iii) RAW MATERIALS.03.452 1.47 — 4616.89 9595.000 15.33 Sq.42 464.14 839.03.Ts) a.50 123.02 41.2009 QTY VALUE (M.719 — 969.120 — 77.379 96.04.33 577959 169546 23678. Prefab structures (Sq Mtr) e.60.14 “ “ “ “ 3.228 24.71 721.26 5152 — 117.732 M.35 12.847 2. In Lakhs TURN OVER 2008 – 2009 QTY VALUE (M.440.59 170.646 Value 628.38 39066 154322 36.85 — — — 1519.

2010 2008-2009 2.68 Rs.68 % -100 100 Rs.68 VALUE — 33. Rs.33 12440. 2010 N.76 971. COMPONENTS ETC.23 1762. : 9281 Place: Hyderabad Date: May 30.99 99.66 24.96 Nil 9.81 — — 732 — 102.73 979.20 25.44 2.01 100 Value -1762. 18.NOTES TO ACCOUNTS b) i) IMPORTS AT CIF VALUE 2009-2010 Raw Materials NIL — — NIL 11.G.14 STORES.422. SPARES.Ratnam Chartered Accountant Membership No. In Lakhs 2008-09 NIL NIL 538.92 989.70 35.30 ii) Components & Spares iii) Capital Goods iv) Trading Goods TOTAL c) VALUE OF IMPORTED AND INDIGENOUS RAW MATERAILS.G.73 0.S.23 2008-2009 QTY — — 33.50 Nil Nil 1.14 9577. Anand Chairman T. Traveling Expenses Trading Goods Import of Capital Goods Import of Stores and Spares Others TOTAL Previous year numbers are shown in parenthesis. Cement Boards (MT) 2.81 % 0.28 1.79 12.28 NIL 24. Prefabricated Structures TOTAL v) EXPENDITURE IN FOREIGN CURRENCY: i) ii) iii) iv) v) 17.98 NIL — — — Rs. STORES & SPARE PARTS CONSUMED. Arun Kumar Company Secretary 34 . Ravi Managing Director P.54 42. Vice President (F&A) Previous year numbers are regrouped wherever necessary to be comparable to those of current year. Prasad Sr.395.33 % — 100 100 — 9577. 2009-2010 2008-2009 Value 9. R. In Lakhs 2009 .V.65 2009-2010 QTY VALUE 102. In Lakhs Imported Indigenous TOTAL iv) EARNINGS IN FOREIGN EXCHANGE: PRODUCT Export of goods FOB basis 1. In Lakhs UNITS RAW MATERIALS 2009-2010 2008 – 2009 Value % — 100 100 Value — 12440. SIGNATURES TO SCHEDULES 1 TO 16 As per my report of even date attached For and on behalf of the Board K.V.

39 Cement 25232901 Cement Bonded Particle Board 6808000 Prefab House 94060001 Distribution and Generation of Hydel Power Not Applicable For and on behalf of the Board K. (CIN) Balance Sheet II. in Thousands) Total Liabilities Sources of Funds Paid. in Thousands) Generic Name of Three Principal Products/Services of Company As per my report of even date attached P. Vice President (F&A) R.G.S. Product Description Item Code : : : : : : : : : : : : : : : : : 4720589 790854 --2347105 233941 3. Registration Details Registration No. 1. Public Issue Bonus Issue III. : 9281 Place: Hyderabad Date: May 30.V. Expenditure Accumulated Losses Profit After Tax Dividend Rate (%) : : : : : --3701 --117078 10 349373 3249436 Reserves & Surplus Unsecured Loans Deferred Tax : : : 1030065 608674 277596 : 5515144 Total Assets : 5515144 : : : : 01 NIl NIl 15596 Capital raised during the year (Rs.2010 Nil NIl State Code Right Issue Private Placement Warrrants issue Position of Mobilization and Deployment of funds (Rs.03.G. Arun Kumar Company Secretary Investments Misc. Prasad Sr.V.Ratnam Chartered Accountant Membership No. in Thousands) Performance of Company (Rs.BALANCE SHEETABSTRACTAND COMPANY’S GENERAL BUSINESS PROFILE I. Anand Chairman T. Product Description Item Code No 3. : : : : 2521 31.) V. Expenditure: IV Turnover (Net) & Other Income Profit Before Tax Earnings per Share (in Rs. Product Description Item Code No 2. Ravi Managing Director N. 2010 35 . Product Description Item Code No 4.Up Capital Secured Loans Apppication of funds Net Fixed Assets Net Current Assets Deferred Rev.

36 .

.........................................500 029........... PROXY FORM FOLIO / ID NO.. of Shares held l be wil d s t Gif ute No istrib M d t AG a TO BE HANDED OVER AT THE ENTRANCE OF THE VENUE OF THE MEETING I hereby record my presence at the 29th Annual General Meeting of the Company held on Thursday...... 1/Revenue Stamp Note : The Proxy form duly completed must be returned so as to reach the Registrated Office of the Company not less than 48 hours before the time for holding the aforasaid meeting......................... 2010 at 10........................... No duplicate Attendance Slip will be issued at the venue of the Meeting............ who is not a Member................... Please carry with you this attendance Slip................ ..... Hyderabad ........ 2010.............. sign at the space provided and hand over the same at the entrance of the venue of the Meeting.......... 2010 and at any adjournment thereof............ Member / Proxy’s Name Member / Proxy’s Signature (to be signed at the time of handing over the slip) Note : # 1.............. Chirag Ali Line....of .............. Hyderabad ..... as my / our proxy to vote for me / us on my / our behalf at the 29th Annual General Meeting of the Company to be held on Thursday.................... of Shares held I/We ................................................................. the 30th September.... Raghava Ratna Towers... Hyderabad .................................... No......... ATTENDANCE FORM FOLIO / ID NO..... 37 ............ King Koti Road.......... Rs...................................... at Bharatiya Vidya Bhavan (Auditorium)........ Chirag Ali Line..........500 001............... Affix Signed this .... The Proxy need not be a member of the Company......of .................. Signature ...... Abids.......................day of ....... or failing him / her ...# NCL INDUSTRIES LIMITED 7th Floor...................................... 2......being a Member / Member (s) of NCL Industries Limited hereby appoint ......... This Meeting is of Members only and you are requested not to bring along with you any person...... No.........500 001................................................................. the 30th September.......M. Abids................. Raghava Ratna Towers.............. NCL INDUSTRIES LIMITED 7th Floor........................................................00 A..........

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