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JINDAL POLY FILMS LIMITED

BOARD OF DIRECTORS

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CHIEF FINANCIAL OFFICER COMPANY SECRETARY AUDITORS BANKERS

RASHID JILANI JOGESH BANSAL R.K. PANDEY SAMIR BANERJEE, WHOLE TIME DIRECTOR (MARKETING) RATHI BINOD PAL, WHOLE TIME DIRECTOR HEMANT SHARMA, WHOLE TIME DIRECTOR AND CHIEF EXECUTIVE OFFICER (CEO) L.P. SONI AJIT MISHRA KANODIA SANYAL & ASSOCIATES, CHARTERED ACCOUNTANTS PUNJAB NATIONAL BANK STATE BANK OF INDIA STATE BANK OF PATIALA AXIS BANK LIMITED HONGKONG & SHANGHAI BANKING CORP. LIMITED THE BANK OF NOVA SCOTIA DBS BANK LIMITED AKA,AUSFUHRKREDIT-GESELLSCHAFT MBH FRANKFURT, GERMANY COMMERZBANK, AKTIENGESELLSCHAFT FRANKFURT, GERMANY STANDARD CHARTERED BANK ICICI BANK LIMITED DEUTSCHE BANK CITI BANK

REGISTERED OFFICE

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19TH K.M. HAPUR-BULANDSHAHR ROAD P.O. GULAOTHI DISTT. BULANDSHAHR (U.P) (1) 19TH K.M., HAPUR- BULANDHSHAHR ROAD, P.O. GULAOTHI, DISTT. BULANDSHAHR (U.P.) (2) 28TH K.M. NASIK-BOMBAY HIGHWAY, VILLAGE MUNDEGAON, IGATPURI, DISTT. NASHIK, MAHARASHTRA (3) 160/1/7, AMBOLI ROAD, VILL. KALA, KHANVEL, SILVASSA (UT OF D&N)

WORKS

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HEAD OFFICE & CORPORATE OFFICE

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PLOT NO. 12, SECTOR B-1, VASANT KUNJ LOCAL SHOPPING COMPLEX NEW DELHI - 110070 KARVY COMPUTERSHARE PVT. LTD (UNIT: JINDAL POLY FILMS LTD.) PLOT NO 17-24 VITTAL RAO NAGAR MADHAPUR, HYDERABAD- 500 081

REGISTRAR & SHARE TRANSFER AGENTS

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| 1 | ANNUAL REPORT 2011-2012

JINDAL POLY FILMS LIMITED

38th Annual Report 2011-2012
Sl. No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. Contents Page No.

Notice of Annual General Meeting ........................................................................................................ 03 Report on Corporate Governance ......................................................................................................... 09 Management’s Discussion & Analysis ................................................................................................... 17 Directors’ Report .................................................................................................................................... 20 Auditors’ Report on Financial Statements ............................................................................................. 26 Balance Sheet ........................................................................................................................................ 30 Profit & Loss Account ............................................................................................................................ 31 Cash Flow Statement ............................................................................................................................. 32 Significant Accounting Policies and Notes on Accounts ....................................................................... 33 Notes forming part of Balance Sheet and Profit & Loss Account ......................................................... 35 Statement under section 212 of the Companies Act, 1956 & Details of Subsidiary Companies ......... 51 Auditors’ Report on Consolidated Financial Statements ....................................................................... 53 Consolidated Balance Sheet .................................................................................................................. 54 Consolidated Profit & Loss Account ...................................................................................................... 55 Consolidated Cash Flow Statement, Notes forming part of Consolidated Balance Sheet, P & L Account, & Notes on Consolidated Accounts .............................. 56 Attendance Slip and Proxy From .......................................................................................................... 73

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| 2 | ANNUAL REPORT 2011-2012

P. SPECIAL BUSINESS 5. RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorised from time to time amend. for a period of 5 years w. 4.M. the following resolution as an ORDINARY RESOLUTION: “RESOLVED THAT due notice in writing signifying the intention of a member to propose Mr. if any. 008396N) be and are hereby appointed as Statutory Auditors of the Company to hold office from the conclusion of this Annual General Meeting to conclusion of next Annual General Meeting at a remuneration of Rs. 1956. consider and adopt the Balance Sheet as at 31st March. Distt-Bulandshahr (U. 29th September.) To transact the following business: ORDINARY BUSINESS 1. To receive. 3. Hemant Sharma as a Director having been received pursuant to section 257 of the Companies Act. Company’s Registered Office at: 19th K. Hemant Sharma including remuneration provided that such remuneration shall not exceed the maximum limits for payment of managerial | 3 | ANNUAL REPORT 2011-2012 . Chartered Accountants as Auditors of the Company and to fix their remuneration. Hapur-Bulandshahr Road.M. Hemant Sharma be and is hereby appointed as Director of the Company liable to retire by rotation. consent of the Company be and is hereby accorded to the Board of Directors of the Company for appointment of and payment of remuneration to Mr..00. with or without modification(s). To pass with or without modification. 1956 and subject to the limits laid down in section 198 and 309 of The Companies Act.JINDAL POLY FILMS LIMITED NOTICE Notice is hereby given that the 38th Annual General Meeting of the members of JINDAL POLY FILMS LIMITED will be held as scheduled below :Date Time Venue : : : Saturday.” 6. 1956 read with schedule XIII of the Companies Act.10. who retires by rotation and being eligible offers himself for reappointment. to consider and if thought fit.000/. 2012.309 and other applicable provisions. the following resolution as an Ordinary Resolution: “RESOLVED THAT M/s. alter or otherwise vary the terms and conditions of the appointment of Mr. To consider and. To appoint a Director in place of Mr. if thought fit to pass. Rashid Jilani. 1st April. 2012. to pass with or with out modification. the Profit & Loss Account for the year ended on that date and the reports of the Board of Directors and Auditors thereon. Mr. 1956. To appoint M/s Kanodia Sanyal & Associates.-Gulaothi. the following resolution as an ORDINARY RESOLUTION: “RESOLVED THAT pursuant to the provisions of Section 269.e. as set out in the explanatory statement attached hereto.O. as may be admissible within the overall limits prescribed under the Act and as the Board may consider appropriate from time to time. 2012 11:30 A.(Rupees ten lac) plus out of pocket expenses. In this connection. Hemant Sharma as Whole Time Director of the Company. P. of the Companies Act.” 2.f. To declare dividend on Equity shares. Chartered Accountants (firm registration no. Kanodia Sanyal & Associates.

the following resolution as an ORDINARY RESOLUTION: “RESOLVED THAT in partial modification of the Resolution passed at the 37th Annual General meeting held on 24th September. matters and things. To consider and. RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorised to do all such acts. matters and things. deeds. as in its absolute discretion. RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorised to do all such acts. modified or re-enactment from time to time as the Board may deem fit. deeds.JINDAL POLY FILMS LIMITED remuneration as may be admissible within the overall limits specified in Schedule XIII of the Companies Act. alter or otherwise vary the terms and conditions of the appointment of Mr.1956. 2012. Whole Time Director of the Company with effect from 1st August. if any. it may consider necessary. 2012 (Ajit Mishra) Company Secretary | 4 | ANNUAL REPORT 2011-2012 . as set out in the explanatory statement attached hereto.1956. as existing or as amended. 1956. it may consider necessary. 2011 and in accordance with the provisions of section 198. and subject to the limits laid down in Schedule XIII to the said Act. as existing or as amended. Consent of the Company be and is hereby accorded to the payment of enhanced remuneration to Mr. as in its absolute discretion. Rathi Binod Pal. RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorised from time to time amend. as the Board may consider appropriate from time to time. of the Companies Act. expedient or desirable in order to give effect to the foregoing resolution or otherwise considered by it to be in the interest of the Company.309. if thought fit to pass.” By order of the Board of Directors Place : New Delhi Dated : 1st September.310 and other applicable provisions. Rathi Binod Pal including remuneration provided that such remuneration shall not exceed the maximum limits for payment of managerial remuneration as may be admissible within the overall limits specified in Schedule XIII of the Companies Act. 7. expedient or desirable in order to give effect to the foregoing resolution or otherwise considered by it to be in the best interest of the Company. modified or re.enactment from time to time as the Board may deem fit. with or without modification.

00 A. has taken a “Green Initiative “by allowing paperless compliance by companies and has issued circular No. quoting reference of their folio number. This “Green Initiative” of the Government is commendable and will go a long way in protecting environment on sustainable basis. A member entitled to attend and vote at the meeting.f 1st. April. For achieving this objective. 6. in respect of financial years 2005-2006 or for any subsequent year at the earliest. members holding shares in physical mode are requested to register their e-mail address by way of writing a letter to registrar and share transfer agents or e-mail to : jpl. 29th September. Hemant Sharma. Members are requested to claim from the Company their unclaimed dividends.JINDAL POLY FILMS LIMITED NOTES: 1. at the Head office of the Company and of the concerned subsidiary Companies. 4. 1956. is separately annexed hereto. Members are requested to notify to the company change of address. 5. to 1. EXPLANATORY STATEMENT AS REQUIRED UNDER SECTION 173 OF THE COMPANIES ACT.P) at least 48 hours before the time fixed for the meeting.e. the Board of Directors in their meeting held on 23rd March. 7. Your company accordingly supports this initiative. so that the information required may be made available at the meeting. 17/2011 dated 21st April. 2012 have appointed Mr. 24th September. Annual account of the Subsidiary companies and the related detailed information will be kept open for inspection on all working days between 11. 51/12/2007-CL-III dated 8th February. 2. if any. He will hold the office upto the date of the ensuing Annual General | 5 | ANNUAL REPORT 2011-2012 .com. The Explanatory Statement in respect of item no. 1956 Item no. 9. as an Additional Director of the Company w. Members desirous of obtaining any information concerning the accounts and operations of the Company are requested to send their request at the registered office and / or head office of the Company at least 7 days before the date of the meeting. 3. a) b) c) 8.00 P. In term of circular no. members are requested to kindly inform their PINCODE immediately. 5-6 Pursuant to the provision of Article 120 of Article of Association of the Company read with section 260 of the Companies Act.M. 1956 is annexed herewith. Members holding shares in demat mode may write to their respective depository participants for registering their email addresses. 2011 of the Ministry of Corporate affairs.M. The proxy form(s) duly completed and signed should reach the company’s registered office at Gulaothi (U. Government of India. In case the mailing address mentioned on this Annual Report is without the PINCODE. 2011 and 18/2011 dated 29th April.cs@karvy. Members who are holding shares in Demat Mode are requested to notify any change in their residential address or Bank A/c details immediately to their respective Depository Participants. if any. IMPORTANT COMMUNICATION TO THE MEMBERS The Ministry of Corporate Affairs. 5 to 7 of the notice as required Under Section 173 of the Companies Act. 2012. 2011 stating that service of documents by a company can be made through electronic mode. 2012 to Saturday. with PINCODE. Details under clause 49 of the Listing Agreement with the Stock Exchanges in respect of Directors seeking Appointment / re-appointment at the Annual General Meeting . 2012 (both days inclusive). is entitled to appoint a proxy to attend and vote instead of himself and the proxy need not be a member of the Company. The Register of Members and Share transfer books of the Company will remain closed from Monday.

5 and 6. 2. None of the Directors except Mr. operation and restructuring. marketing. strategic business development.000/. Hons. Maintenance and Driver Expenses under the Car Scheme of the Company and Telephone at residence (including payment for local calls and long distance official calls) shall not be included in the computation of perquisites.e. 3. as may be amended from time to time. 2012. 1. Hemant Sharma as Director of the Company liable to retire by rotation. Mr. | 6 | ANNUAL REPORT 2011-2012 . In compliance with the provisions of Section 269 and 309 of the Companies Act. Ex. 1956 together with requisite deposit has been received from a member proposing the appointment of Mr.Gratia payment for each year as per policy of the company subject to a maximum of 20 percent of the basic salary earned during the preceding year. The principal terms of appointment are as under :Basic Salary 1. Hemant Sharma Whole Time Director of the Company and memorandum of Interest under section 302 of the Companies Act. In the absence of any such rules. Hemat Sharma as Whole Time Director of the Company for a period of 5 (Five) years w. Provision for use of Company’s Car for official duties.JINDAL POLY FILMS LIMITED Meeting. Reimbursement of Conveyance. If at any time the appointee ceases to be a Director of the Company for any cause whatsoever.per month for a year. during the currency of the tenure of the appointee.890/. Rs. Text. the Company will pay remuneration by way of salary and perquisites as specified in Section II of Part II of Schedule XIII to the Companies Act. Gratuity payable as per the rules of the Company and Encashment of leave at the end of the tenure shall not be included in the computation of limits for the remuneration or perquisites aforesaid. 6. the terms of remuneration specified above are now being placed before the General Meeting for your approval. Notice under section 257 of the Companies Act. the same is not taxable under the Income-Tax Act. The Board of Directors recommends this enabling resolution for approval of the members The Explanatory statement together with the accompanying notice may also be regarded as an abstract of the terms of appointment of Mr. (B) The perquisites as above shall be evaluated as per Income-tax Rules wherever applicable. 2. 5. April. (C) Company’s contribution to provident fund to the extent.per month and with an increase therein as per the rules of the Company. 1956.72. (Textile). Medical reimbursement for the expenses incurred for self and family subject to a ceiling of one month’s basic salary in a year. 15.per month with an annual increment as per the policy of the company subject to maximum of Rs. Further the Board of Directors in their meeting held on on 23rd March. 1956.f 1st. he shall cease to be Whole Time Director as the case may be. is a B. the Company has no profits or its profits are inadequate. MBA (Marketing) and has 27 years of industrial experience in sales. Notwithstanding anything to the contrary herein contained where in any financial year.000/. Hemant Sharma may be considered as concerned or interested in passing of the proposed resolutions given at item no. 1956. perquisites shall be evaluated at actual cost. 2012 appointed Mr. Hemant Sharma is aged about 49 years. (A) Perquisites and Allowances (i) (ii) (iii) (iv) House Rent Allowance: Rs. 4. Leave Travel Allowance for self and family subject to a ceiling of one month’s basic salary in a year in accordance with the rules of the Company.08. The term and condition of said appointment may be altered and varied in such manner as may be agreed to between the Board of Directors and appointee.

he shall cease to be WholeTime Director as the case may be.00. 3. Rathi Binod Pal as Whole Time Director of the Company for a period of 5 (Five) years w. 5. 2009 have appointed Mr. If at any time the appointee ceases to be a Director of the Company for any cause whatsoever. Further the Board of Directors in their meeting held on 1st September. In compliance with the provisions of Section 269 and 309 of the Companies Act. modified or reenactment from time to time as the Board may deem fit.(Thirty Thousands One Hundred Eighty) per month. the Company has no profits or its profits are inadequate. Gratuity payable as per the rules of the Company and Encashment of leave at the end of the tenure shall not be included in the computation of limits for the remuneration or perquisites aforesaid.f. w. (A) Perquisites and Allowances (i) (ii) (iii) (iv) (v) (B) Special allowance of an amount Rs. Ex.180/.000/. as existing or as amended.per month for a year. The perquisites as above shall be evaluated as per Income-tax Rules wherever applicable. 2.12. Rs.JINDAL POLY FILMS LIMITED Item no. alter or otherwise vary the term and conditions of the appointment of Mr. Whole Time Director. 1st August. 1956.2. Payment. it will be desirable to enhance the remuneration payable to him. has enhanced the remuneration payable to Mr. 2012. Your Directors consider that in view of committed efforts of Mr. Rathi Binod Pal. Accounts and marketing matters.e.30. the same is not taxable under the Income-Tax. 6. The Board of Directors of the Company is authorized from time to time to amend. with an annual increment as per the policy of the company subject to maximum of Rs. perquisites shall be evaluated at actual cost. as may be amended from time to time.e. the Company will pay remuneration by way of salary and perquisites as specified in Section II of Part II of Schedule XIII to the Companies Act. 17th December. Rathi Binod Pal. 1956. Rathi Binod Pal aged about 43 years is B.Com and CA (inter) having 20 years experience in the matter of Commercial.M. Notwithstanding anything to the contrary herein contained where in any financial year. Rathi Binod Pal including the remuneration provided that such remuneration shall not exceed the maximum of the overall limits for payment of managerial remuneration as may be admissible within the overall limits specified in schedule XIII of the Companies Act. if any.7 The Board of Directors in their meeting held on 17th Dcember. Management. The principal terms of appointment are as under:Basic Salary 1. 2009. 2012. the terms of remuneration specified above are now being placed before the General Meeting for your approval 4.000/.(Twelve Lacs) in a financial year on account of performance based incentive as per policy of the Company .719 P. 1956. provision for use of Company’s Car for official duties. Mr.Gratia payment for each year as per policy of the company subject to a maximum of 20 percent of the basic salary earned during the preceding year. during the currency of the tenure of the appointee. Reimbursement of Conveyance. mobile phone expenses and Telephone at residence (including payment for local calls and long distance official calls) shall not be included in the computation of perquisites. 40. (C) Company’s contribution to provident fund to the extent. upto Rs. Maintenance Expenses under the Car Scheme of the Company. Leave Travel Allowance for self and family subject to a ceiling of one month’s basic salary in a year in accordance with the rules of the company. In the absence of any such rules.f.28. Medical reimbursement for the expenses incurred for self and family subject to a ceiling of one month’s basic salary in a year. | 7 | ANNUAL REPORT 2011-2012 .

| 8 | ANNUAL REPORT 2011-2012 . (Textile) MBA (Marketing) Jindal Poly Investment and Finance Company Limited NIL ————————————————————————————————————————————————————————————————————— List of outside Directorships 1) Jindal India Thermal Power Limited 2) Jindal India Powertech Limited 1. Text. th ————————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————————— Qualification B. 2012 Name of the Director Director Identification Number (DIN) Date of Birth Date of Appointment Expertise in specific functional area Mr. operation and restructuring. strategic business development. Mr. marketing.JINDAL POLY FILMS LIMITED The Board recommends the resolution for your approval. 1956. Audit Committee 2.Com.B. Finance and Working Capital Management. Rathi Binod Pal may be considered as concerned or interested in passing of the proposed resolution The Explanatory statement together with the accompanying notice may also be regarded as an abstract of the terms of appointment of Mr.A. Details of the Directors seeking Appointment / re-appointment in Annual General Meeting fixed on 29 September. C.I. Hemant Sharma 05235723 23/04/1963 01/04/2012 27 years of industrial experience in sales. He is former Chairman of Punjab National Bank M. Rathi Binod Pal Whole Time Director of the Company and memorandum of Interest under section 302 of the Companies Act. Rashid Jilani 00010624 08/10/1941 30/09/2010 40 years of experience in Banking. Shareholders Committee 1) Jindal India Thermal Power Limited – Audit Committee and Remuneration Committee 2) Jindal India Powertech Limited – Audit Committee NIL ————————————————————————————————————————————————————————————————————— Committee Membership of the Company * Committee Membership of other Companies ————————————————————————————————————————————————————————————————————— NIL ————————————————————————————————————————————————————————————————————— Shareholding in the Company NIL * Only statutory committees are considered. None of the Directors except Mr. Hons.I.

Director resigned w. The Status of the Corporate Governance Code of the Listing Agreement by Jindal Poly Films Ltd (JPFL) is given below:A. 2012 Mr. Samir Banerjee Mr. The members of the Board possess adequate experience. Pandey Mr.f. Rathi Binod Pal Mr. 1st April. customer friendly. Jogesh Bansal Executive/Non Executive Executive Executive Executive Non-Executive & Independent Non-Executive & Independent Non-Executive & Independent No.e. Hemant Sharma.Executive Independent Directors. Gupta. Board of Directors JPFL has a broad based Board of Directors with three Non-promoter Executive Directors and Three Non-promoter & Non.K. of Total Directorship 7 10 2 3 14 4 Membership of total Board Committee 0 0 0 5 6 2 Change after financial year 2011-12 i) ii) Mr.JINDAL POLY FILMS LIMITED REPORT ON CORPORATE GOVERNANCE Your company has complied in all material respects with the features of Corporate Governance Code as per Clause 49 of the Listing Agreements with the Stock Exchanges. The constitution of the Board as on 1St September. MANDATORY REQUIREMENTS Company’s Philosophy on Corporate Governance The foremost principles of the Corporate Philosophy of JPFL can be summarised as follows:Vision “To be an acknowledged Leader in terms of maximizing stakeholder value.K.e. V. R. 2012 is given below:Director Mr. Rashid Jilani Mr. expertise and skills necessary to manage the affairs of the company in the most efficient manner. profitability and growth by being a financially strong. Hemant Sharma Mr. 1st April. progressive Organisation. Whole Time Director appointed w. 1. The Board elects its Chairman at its meetings.” Values Openness and transparency Integrity and Honesty Dedication & Commitment Creativity and teamwork Mutual Trust & Appreciation Pursuit of Excellence 2.f. 2012 | 9 | ANNUAL REPORT 2011-2012 .

f. Rathi Binod Pal 4. annual operating plans.K. Ajit Mishra. • Review of Annual Financial Statements. 8/08/2011. Gupta.e. Rashid Jilani. Jogesh Bansal.JINDAL POLY FILMS LIMITED 3. The broad terms of reference of Audit Committee are as under:• Review of Quarterly/Half Yearly Unaudited /Annual Results • Review of Quarterly Internal Audit Report and Internal Control Systems. 1/4/2012) 10 10 10 10 10 10 Attended 9 7 4 9 10 7 Yes No No Yes Yes Yes Last AGM attended Mr. 10/02/2012. i) ii) iii) iv) Mr. V. 14/03/2012 and 23/03/2012. Jogesh Bansal Mr. R. Member (upto 31/3/2012 ) Mr. Attendance of Directors at the Board Meetings and Annual General Meeting The Board of Directors of the Company met ten times during the financial year 2011-12 on the following dates: 9/04/2011.K. 12/08/2011. During the financial year.K. Company Secretary acts as Secretary to the Committee. 14/11/2011. Samir Banerjee Mr. fixation of Audit Fees. The Term of Reference of the Committee are in conformity with the provisions of Section 292A of the Companies Act. of Meetings held during the tenure of Directors Held Mr. Committee of Directors The following Committees of the Board of Directors of the company have been constituted. 12/08/2011. a) Audit Committee The Audit Committee consists of three independent Directors viz. • Review with Internal Auditors and significant findings and follow up thereon. R. Chairman Mr. The attendance of the Board members at the Board Meetings as above and in the last AGM were as under: Name of Directors Attendance No.K. 5/05/2011. 31/10/2011. budgets and all other information including those specified under clause 49 of the Listing agreement. 14/11/2011and 10/02/2012. Pandey (w. the meetings of the Audit Committee were held on: 5/05/2011. Rashid Jilani Mr. 1956 and Clause 49 of the Listing Agreement with the stock exchanges. Pandey Mr. 30/11/2011. Member Mr. Gupta Mr. For every Board Meeting the agenda papers along with explanatory notes are distributed well in advance to the Board Members. 8/08/2011. • Recommending the appointment/re-appointment of Auditors. V. The Company place before the Board the Minutes of Committees of the Board. | 10 | ANNUAL REPORT 2011-2012 .

Rathi Binod Pal Whole Time Director Mr.000 — — — — — — 18. The committee consists of– i) ii) iii) iv) Mr.500 — — — — — — 37. Details of Remuneration paid to all the Directors for the period 1st April.000 — — — — — — 18.26.000 | 11 | ANNUAL REPORT 2011-2012 .000 2. K. Gupta b) Shareholders Committee The Board has constituted a Shareholders Committee which monitors share transfers.51. Rashid Jilani Independent Director Mr. V.525 9. Rashid Jilani.38. Pandey Independent Director Mr. c) Remuneration of Directors The Non-Executive Directors are paid sitting fees for attending the meetings of Board of Directors and Audit Committee. Investor grievances are resolved to the extent possible within one week. consolidation and also redressal of shareholders and investor grievances. Ajit Mishra.500 18.360 — 38. V.19. R. Member Mr. 1/4/2012) Designation Chairman Member Member Profession Consultant Business Service Committee Meetings attended 5 (Five) 3 (Three) 4 (Four) Mr. The Company do not pay sitting fees for any other committee meetings. The remuneration of Executive/Whole Time Directors are approved at the meetings of Board of Directors of the Company and by shareholders.353 37. Company Secretary. is the Compliance Officer.405 6. splits. Gupta Independent Independent Director Director Sitting fee Salary Allowances Perquisite Exgratia Provident fund contribution Stock option granted during the year TOTAL — 17. V. Samir Banerjee Whole Time Director Mr.52.183 9. 2011 to 31st March.000 18.69. 2012: Name of the Director Designation Mr.31. transmissions. Jogesh Bansal Mr. Rashid Jilani Mr.33.350 2. R.000 — — — — — — 21. Chairman Mr. Jogesh Bansal Mr.JINDAL POLY FILMS LIMITED The details of the meeting attended by the members of the committee are as under: Name Mr. there was NIL complaint pending. K.098 — 12. Jogesh Bansal.000 21.K.e.690 14.360 — 31.K.83. Pandey (w. The total number of complaints received during the year 2011-12 were 75 and as on 31/03/2012.863 8. Gupta. Member (upto 31/3/2012) Mr. The total number of shares transferred during the year 2011-12 was 3400 Equity Shares and rejection for transfers were 3200 Equity Shares.f.K.715 5. All shares are transferred within 15 days from the date of receipt.94.

Bulandshahr.P.30AM One Note: 1) One Special resolution was passed on 08th March. Whistle Blower Policy The company has adopted a proper procedure in this regard.O.O.P.M. in which Directors are interested. P.O. Gulaothi. the question of penalties or strictures being imposed by SEBI or the Stock Exchanges does not arise. Bulandshahr. Distt. Employees can report to the management their concerns about unethical behavior. Transactions with the related parties are disclosed as required by Accounting Standard (AS-18) in the notes to the accounts in this Annual Report.P. P. The Code has also been posted on the Company’s website.M. Gulaothi. Code of Conduct for Directors and Senior Executives In line with the clause 49 of the listing agreement. P.30 AM Two 37th AGM 24/09/2011 11. The Company has not adopted the non-mandatory requirements as specified in annexure ID of the Listing agreement. Further. | 12 | ANNUAL REPORT 2011-2012 .30 AM Venue 19th K. of Special Resolutions Passed Nil 36th AGM 30/09/2010 11. Hapur-Bulandshahr Road. Hapur-Bulandshahr Road. Gulaothi. during the last three years. strictures imposed on the Company by the Stock Exchanges or SEBI or any statutory authority on the matter related to capital markets. 19th K. The Register of contracts containing transactions. Details of compliance with mandatory requirements and adoption of the non mandatory requirements of this clause. Distt. that may have a potential conflict with the interest of the company. Bulandshahr. the Company has adopted a Code of Conduct for its Directors and Senior Executives.JINDAL POLY FILMS LIMITED General Body Meetings The locations and time of the Annual General Meetings held during the last 3 years are as follows:Annual General Meeing (AGM) 35th AGM Date 30/09/2009 Time 11. actual or suspected fraud or violation of the Company’s Code of Conduct. U. 19th K. Distt. 2010 by way of postal ballot approving the Buy-back of Equity Shares by the Company. Details of non compliance by the Company. There has been no instances of non-compliance by the Company on any matter related to capital markets.M. U. no personnel has been denied access to the Audit Committee. The Company has complied with all the mandatory requirements on the report of corporate governance. Disclosure on materially significant related party transactions No transaction of material nature has been entered into by the company with Directors or Management and their relatives etc. penalties. U. Hapur-Bulandshahr Road. if any. is placed before the Board regularly. Hence. No.

2012. Press releases are also issued time to time. These procedures are periodically reviewed to ensure that executive management controls risk through means of a properly defined framework.com. www. | 13 | ANNUAL REPORT 2011-2012 . Financial Express. Place: New Delhi Date: 1st September. It is certified further that the Directors and Senior Management have affirmed their compliance with the code for the year ended 31st March. 2012 Sd/Hemant Sharma Chief Executive Officer Certification on Financial Statements and Internal Controls A certificate duly signed by the Whole Time Director and Chief Executive Officer (CEO) and Chief Financial Officer (CFO) relating to financial statements and internal controls and internal control systems for financial reporting as per the format provided in amended clause 49 of the listing agreement was placed before the Board and is given in this Annual Report. Risk Management The company has laid down procedures to inform Board members about the risk assessment and minimization procedures.jindalpoly.jindalpoly. Accounting Treatment The company has followed the guidelines of Accounting Standards laid down by the Institute of Chartered Accountants of India (ICAI) in the preparation of its financial statements.JINDAL POLY FILMS LIMITED Certificate of code of conduct Declaration This is to certify that the Company has laid down a code of conduct (the code) for all Board Members and senior management personnel of the Company and a copy of the code is put on the web site of the Company viz. Means of Communication This is being done through submission of quarterly results to the stock exchanges in accordance with the listing agreement and publication in the leading newspapers like Business Standard.com. The quarterly financial result and press release about the Performance of the Company are also filed with stock exchanges and displayed on company’s website www. Jansatta (Hindi) .

National Stock Exchange. 11 Sep. 2012 at 11.90 Low Price (Rs. the company may publish audited results for the full financial year by 30th May.00 275. 19th K. 11 Aug.00 162. Distt..10 202. 11 Dec.90 181.65 285.20 239. 2012 Quarter ending September 30. 29th September. Mumbai JINDAL POLY FILMS LIMITED NSE PRICE FROM 01. 29th September. 2012 Second week of November. 2013.) Financial Calendar i) Quarterly Financial Reporting (Tentative & subject to change) Quarter ended June 30. 11 Oct.. 2013 Quarterly results already published on 13th August.40 184. 12 Mar. 2013 Second week of May 2013* *Instead of publishing unaudited quarterly financial results for the last quarter by Second week of May. Monday 24th September.00 164.2011 TO 31. 11 June.2012 Month April. Hapur-Bulandshahr Road.50 242. 2012 Quarter ending December 31.30 AM.O.80 355.. i) The National Stock Exchange of IndiaLtd.40 189. 11 May.50 180.) 420.75 233. 2013) Date of Book Closure Listing on Stock Exchange & Stock Code Listing Fee Stock Market Data (on NSE) In August/September 2013..: Gulaothi. Mumbai (JINDALPOLY) ii) The Bombay Stock Exchange Limited.. 2012 (both days inclusive).. Mumbai (500227) The Company has paid in full the listing fees to the Stock Exchanges for the year 2011-12. 2012 Quarter ending March 31.) 7242028 6278022 6284545 5765184 12451338 6293264 6787940 5259753 6037888 6704966 5463965 3263458 .04. 11 July.90 200.60 221.. 11 Jan.20 143.05 202.10 258. ii) c) d) e) f) Annual General Meeting (For the year ending March 31.00 228.. 12 | 14 | ANNUAL REPORT 2011-2012 High Price (Rs.95 428. Bulandshahr.P.. (U.55 318.) 454.10 348.JINDAL POLY FILMS LIMITED Management Discussion and Analysis Form part of this Annual Report General Shareholder Information a) Annual General Meeting – – b) Date and Time Venue Saturday. 12 Feb.M. 2013. 11 Nov.50 Total Traded Quantity (Nos. 2012 to Saturday. 2012 Second week of February.03. P.

040-2342 0815-820 Fax 040-23420814 Email:einward. Distt. 2012 4.com | 15 | ANNUAL REPORT 2011-2012 k) Plant Locations l) Address for Correspondence . Vill.84 0. P.17 0. Ltd.22 0. Sector B-1. 19th K. Khanvel. Local Shopping Complex New Delhi – 110070. Hyderabad 500081 Tel.O.risk@karvy.JINDAL POLY FILMS LIMITED g) Registrar and Share Transfer Agents In Physical and Electronic Mode Karvy Computershare Pvt.00 No of Shares 3637094 777093 709451 361232 237354 210327 614653 36474651 43021855 % of Shares 8.26.45 1. 12.) 2.81 1. Igatpuri Distt. 1. Nasik-Mumbai Highway. Hapur-Bulandshahr Road.49 1. No. Silvassa (UT of D&N) Mr. The company’s share are compulsorily traded in dematerialized form.43 84. 160/17.. Distribution of Shareholding as on 31st March. 2012 Slab of Shareholding Upto – 5000 5001 – 10000 10001 – 20000 20001 – 30000 30001 – 40000 40001 – 50000 50001 – 100000 100001 & Above Total No.22 100.38. provided the documents are clear in all respects.11% of the total number of shares) are in dematerialized form.12 0. Bulandshahr (U.214 shares (99. The shareholders committee meets after every 15 days or as often as required. Madhapur. Ajit Mishra Company Secretary Plot No.36 0. Kala. Vill.M.com Website : www. Gulaothi. of holders 37476 1004 467 142 66 46 86 87 39374 % of holders 95. Mundegaon.19 0.78 100 h) i) j) Dematerialisation of Shares As on 31st March. Maharashtra. Vasant Kunj. 28th K.M. (Unit: Jindal Poly Films Ltd) Plot Number 17-24 Vittal Rao Nagar. Amboli Road. 3.com Share Transfer System The shares sent for physical transfer are registered within a period of 15 days from the date of receipt.65 0.18 2. Nasik.P. Tel : 91-11-26139256 Fax : 91-11-26125739 e-mail : secretarial_polyester@jindalgroup.55 1.55 0.jindalpoly.

P. Deficiencies in the design or operation of such internal controls. (a) There has not been any significant change in internal control over financial reporting during the year under reference. we have to state that as per the records maintained by the Company. Whole Time Director and CEO and L. Chief Fianancial Officer (CFO) of Jindal Poly Films Limited.2012 CERTIFICATION We. no investor grievance is pending for a period exceeding one month. if any. 3.Soni. have been disclosed to the auditors and the Audit Committee and steps have been taken to rectify these deficiencies. a true and fair view of the company’s affairs. illegal or violative of the Company’s code of conduct. We 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. Based on our knowledge and information. To the best of our knowledge and belief. For Kanodia Sanyal & Associates Chartered Accountants (R. as stipulated in Clause 49 of the Listing Agreement of the said Company with the stock exchanges. Kanodia) Partner Membership No. these statements do not contain any untrue statement of a material fact or omit to state a material fact or contain statements that might be misleading. of which we are aware. 5.K. As required by the Guidance Note issued by the Institute of Chartered Accountants of India. Hemant Sharma. It is neither an audit nor an expression of opinion on the financial statements of the Company. We have reviewed the Balance Sheet and profit and loss account. adopted by the Company for ensuring the compliance of the conditions of Corporate Governance. present in all material respects. and (c) We are not aware of any instance during the year of significant fraud with involvement therein of the management or any employee having a significant role in the Company’s internal control system over financial reporting. The compliance of conditions of corporate governance is the responsibility of the management. to the best of our knowledge and belief.016121 Place : New Delhi Dated : 01st September. and other financial information included in this report. (b) There has not been any significant change in accounting policies during the year requiring disclosure in the notes to the financial statements. In our opinion and to the best of our information and according to the explanations given to us. and all its schedules and notes to accounts. we certify that the Company has complied with the conditions of Corporate Governance as stipulated in the above-mentioned Listing Agreement. and are in compliance with the existing accounting standards and / or applicable laws and regulations.P. 6. Soni) Chief Financial Officer 4. the financial statements. Place : New Delhi Date : 01-09-2012 | 16 | ANNUAL REPORT 2011-2012 (Hemant Sharma) Whole Time Director and CEO (L. no transactions entered into by the Company during the year are fraudulent. Our examination was limited to procedures and implementation thereof. . We accept responsibility for establishing and maintaining internal controls for financial reporting and we have evaluated the effectiveness for the internal control system of the Company pertaining to financial reporting. as well as the cash flow statements and the Directors’ Report for the financial year 2011-12. certify that: 1.JINDAL POLY FILMS LIMITED AUDITORS’ CERTIFICATE ON CORPORATE GOVERNANCE TO THE MEMBERS OF M/S JINDAL POLY FILMS LIMITED We have examined the compliance of conditions of corporate governance by M/S JINDAL POLY FILMS LIMITED for the year ended on 31st March 2012. Based on our knowledge and information. 2.

transformers. textile. STRUCTURE & DEVELOPMENTS Flexible Packaging Film Flexible packaging typically includes materials such as plastic films. During the current financial year the Company’s silicon coating and other coated films have found wide range of applications in the label stock and flexible packaging industry. INDUSTRY. capacitors. Growing preference for premium and sophisticated packaging however is driving growth in India with increased availability of BOPP. Coated Films PVDC coated BOPP and BOPET films are used in the flexible packaging industry. Over the years. audio/video tape.000 TPA Metallised Films Vacuum deposition of Aluminium on BOPET and BOPP films increases the barrier properties of such films. pre-press back up films for photo voltaic cells used for generating solar power and office supplies. The Company’s manufacturing facility at Nasik is the worlds single largest location factory for producing these plastic films.000 TPA is planned for startup in the fourth quarter of 2013 BOPP Film Better moisture retention properties render BOPP Film more suitable for food products like snack foods. thus the combined capacity is 2. The Company also maintains a strong presence as a key exporter to several countries.000 TPA of BOPET Film.27. Metallised BOPP is widely used for gift wrapping. | 17 | ANNUAL REPORT 2011-2012 . for its BOPET Film business. JPFL has a capacity to manufacture 1. TQPP is being fast replaced by BOPP. printing.76. Thin Films (10-36 microns in thickness) are used in flexible packaging metallic yarn. ready-made garment bags. JPFL also offers a range of metallised and coated film products to its customers. BOPP Film also finds application in wrapping cigarette cartons. release films. Polyester Chips JPFL has the in-house ability to manufacture polyester (BOPET) chips as per the product requirement. The Company expects to enhance capacity utilization in 2012-13. cables. JPFL is the leading producer of flexible packaging films in the country. Thick Films (50-350 microns in thickness) find application in photographic/X-ray. due to existence of popular low quality. BOPET Film BOPET Film is a versatile product broadly classified according to thickness of the film. The market for BOPP Film in India. cheap alternative in the form of TQPP (Tubular Quenched Polypropylene Film) which is being replaced by BOPP. One more thin BOPET film line of a capacity of 30.JINDAL POLY FILMS LIMITED MANAGEMENT DISCUSSION & ANALYSIS Overview Jindal Poly Films Limited (JPFL) is a leading producer of high performance Polyester and BOPP films (plain and metallized) mainly used for the flexible packaging industry.10. In current financial year. biscuits. BOPET Film and BOPP Film (forms of plastic-based flexible packaging film) have become the preferred choice for packaging consumer articles including food and clothing.400 tpa at Nashik. Maharashtra. decorative ribbons and labels. Besides flexible packaging metallised BOPET films is used for metallic yarn. the Company has commissioned and started production its sixth line with a capacity of 30. paper and aluminium foil.000 TPA. motor insulations and document lamination. electronics. supplying base film to key converters/processors . pasta. adhesive tapes and print lamination. Flexible packaging film follows a business-to-business model. The Company’s manufacturing units are amongst the most modern facilities available and are capable of producing high quality products. In the last few years metallised polyester film has found application in sequins for the textile industry for sarees and dress material for women’s wear. in the current financial year 2012-13. unlike the rest of the world is underdeveloped.who in turn sell the value added product to customers. Besides such films. Acrylic and LTS coated films. Further. hot stamping foils. The Company has installed capacity of 1. The Company has a capacity of 4500 tpa to manufacture PVDC. dried foods and meat.

The recession of 2008 witnessed closing down of capacities in Western Europe and U. SEGMENT PERFORMANCE Flexible Packaging Film The flexible packaging turnover has decreased from 2906. OUTLOOK Flexible Packaging Film India is leading the growth in the global flexible packaging films. Asia (excluding Japan and Korea) has emerged as the largest market for BOPET films accounting for nearly 50% of the world consumption. The Chinese market itself is growing at an average rate of around 8% p. Penetration into China and India has not yet happened. By April/May revival of demand in recession hit economies was observed and a perceived shortage in availability was established in all parts of the world including China and India.A. This growth is powered by increased penetration of packaged food and personal products in to the semi urban and rural segment. The growth is likely to intensify in the next 2 – 3 years. the dominance of the four leading producers – TORAY. From January. The domestic market is enjoying good growth aided by the growth of the flexible packaging and textile packaging. However the production of these high end products was limited to established producers in U. 2010. Japan and Korea. without corresponding increase in demand.S. The capacity utilization in China has been around 70% for the last few years.JINDAL POLY FILMS LIMITED OPPORTUNITIES AND THREATS BOPET Film The company produces both types of BOPET Films (thin 8-36 microns) and thick (50-350. However. Thin BOPET films constitute nearly three fourth of the worlds consumption of BOPET films and is mainly used in packaging. By November prices started to come down but still ruled at above normal levels till the end of the year March 2011. LCD films and from Photo Voltaic panels. This has allowed prices of JPFL’s products to increase both in the domestic and international market. This was owing to capacity increase in many part of Asia and also in India. DUPONT-TEIJIN..A.40 crore (2011-12) which is mainly attributable to fall in BOPET films price. small serve packs and increasing consumerism all requiring better and attractive packaging. It is also observed that Chinese cost is increasing compared to previous years largely due to reduction in subsidies. increased demand for FMCG products is experienced in the hinter lands of India. The use in high end segments like imaging and magnetic media has reduced to below 10% owing to development of digital technology. Increase in purchasing power in the developing countries has resulted in a significant rise in per capita consumption of flexible packaging materials. but is expected in the next few years. growing at above 18% per annum over the last few years. MITSUBISHI and SKC has been challenged by a new emerging breed of producers in India and China. the effects of the closing of capacities were felt and prices of thin BOPET films started rising in the international markets. However the penetration of flexible packaging in the developing economies in Asia is still low and huge opportunities exist for growth with the increase in organized retail. BOPET Films Over the last ten years. the average pack sizes are usually smaller than the pack sizes in tier 1 cities. Flexible packaging improves the shelf life of products while increasing its product appeal. This results in increased use of flexible packaging consumption in the FMCG industry.S. Thick BOPET films experienced increased demand from new products like flat panel displays.S.A.a. As the Government is increasing its spending in the rural economy. Europe. In the next few months prices of thin BOPET films more than doubled without any significant change in new material costs. primarily in Asia. coupled with the shift in demand. In tier 2 and tier 3 cities. the situation changed in the financial year2011-12 and price continued to drop for BOPET films to reach level even below 2009-10 prices. These companies including Jindal Poly | 18 | ANNUAL REPORT 2011-2012 . Growth in the flexible packaging industry is also aided by increase in the export of packaging material to high cost countries in Europe and the U. Industrial and electrical uses constituting over 90% of global consumption. On the supply side most of the new capacities were added in the low cost developing countries.microns).76 crore (2010-11) to 2364. BOPP Films The global BOPP industry is dominated by China which accounts for nearly 40% of the global capacity and consumption.

management reviews and audit committee. objectives etc. It is well recongnized by us that customer is the prime reason for our existence and the entire team must focus on this critical fact that he needs to be well satisfied. information or events. This ensures that there is a sense of belonging to the company. will have a measuring scale.08 crores (last year Rs. modify or revise any forwardlooking statements on the basis of any subsequent developments. BOPP Films The BOPP film market in India is increasing owing to increased consumption in food packaging and large growth in textile packaging. which goes a long way inforging an excellent environment in the workforce. 137. Combined with a robust growth in ready to wear apparels. 30. problem solving. Besides. may be forward looking within the meaning of applicable laws and regulations. there cannot be any guarantee that the assumptions and expectations made will be realized. RISKS & CONCERNS Input costs The largest component of costs involved in making flexible packaging film is attributable to raw materials. enterprise wide adherence to corporate governance best practices is achieved through a combination of internal audits. stress management etc. The BOPET chips used to make BOPET Film as well as the polymers that go into producing BOPP Film are derived from petroleum. Flexible packaging film makers have thus far been able to pass on these costs to end consumers and are expected to do so in the foreseeable future. Almost two thirds of the world’s production of BOPP is consumed in food packaging. Your company has excellent industrial relations which induces the right culture for an efficient working. our emphasis have been on developing competent leadership and team building with focus on customer satisfaction. intense competition between products and services of uniformly high quality is the norm of the day.The Profit After Tax stood at Rs. Further. Therefore. performance or achievements and risks and opportunities could differ materially from those expressed or implied in such forward-looking statements. CAUTIONARY STATEMENT Certain statements in the Management Discussion and Analysis describing the Company’s views about the industry.JINDAL POLY FILMS LIMITED Films have identified an opportunity to gain market position through investment in low cost and highly efficient modern thin film extrusion plants and in doing so. Even the latest and modern machinery with most competent technical backup does not ensure success against fierce competion.an organization that continuously anticipates changing environments and uses change proactively to actualize its strategic business plan more rigorously.20 crores in previous year. 592.72) HUMAN RESOURCES & INDUSTRIAL RELATIONS Today. FINANCIAL PERFORMANCE Jindal Poly Films reported a total revenue of Rs. your company also provides a large number of welfare measures for the employees and their families in the units.66 crore) giving an EPS of Rs. The future being uncertain.35 (last year was 128. The management discussion and analysis should be read in conjunction with the Company’s financial statements included herein and the notes thereto. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY JPFL employs stringent controls to ensure the safety of its asset base against loss and misuse. Given the volatile trend in crude oil and demand for polymers for competing applications the pressure on input costs can be expected to fluctuate. In India the consumption for food packaging is only one third of production. the Indian BOPP film industry is expected to grow at over 15% per annum over the next 3 years.communication. | 19 | ANNUAL REPORT 2011-2012 . All our efforts in human resource development need to focus on developing a keener perception and a superior performance in servicing the needs of the customer at a lower cost and in a shorter time frame. Only then will this objective find basis in reality and only then will all other aspects of HRD . All other resource have to be acted upon by this resource for their value to be realized. 2383. expectations/predictions. Actual results. have found their way in to the exclusive club of large producers. The Company undertakes no obligation to publicly amend. That is precisely why we have built our growth plans on the premises that our manpower resources are our most valuable assests. The Company is thus able to secure and validate its business transactions on an ongoing basis and thereby maintain the accuracy of its financial records and the safety of its property. This gap is rapidly being bridged as the customers are increasing displaying a strong preference for hygienically packed food products. Our aim in the coming year would be to build ourself as a “Learning Organisation” .02 crores as compared to Rs. 2757.

54 (6. 10.2906. 10/.75 963.12) 20.JINDAL POLY FILMS LIMITED DIRECTORS’ REPORT To the Members.44 11.91 (15.97 10.87 500.71 crore.47.26 11.54 crore during the previous year .92 crore during the year as compared to Rs.09 176.60 74.51 1. | 20 | ANNUAL REPORT 2011-2012 .33 26.51 crore and tax thereon of Rs.94) 137.66 333.04 54.23 865.2492. 1.330 crore.51 1. The dividend will be free of tax in the hands of recipients.60 NIL 926.000 MTPA and a BOPET (line G) with a capacity of 30.00 260.71 50.14 264.00 487.08 412. DIVIDEND Your Directors have pleasure to recommend Dividend of 25% (Rs. 2. NEW PROJECTS i) ii) One BOPP line with a capacity of 30. The total dividend would absorb a sum of Rs.000 MTPA at a total project cost of Rs.each.963.713 Equity Shares Capital of Rs.23 84. Your Directors have pleasure in presenting the 38th Annual Report of the Company together with Audited Accounts for the year ended 31st March. The Company propose to setup a new BOPP line (line 7) with a capacity of 30.00 412.88 Your Company achieved a sales turnover of Rs.44 949. 2012. The Financial results of the year under review are as given below:FINANCIAL RESULTS (Rs.20.50 per share) on 4.000 tpa (line 6) commenced operation during the year 2011-12.66 crore during the previous year and recorded operating profit before exceptional item Rs.13 88.89 NIL 549. / Crores) 2011-12 ———————— 2010-11 ———————— Profit from Operations (EBITDA) Less / (Add) exceptional items Less: Interest Profit Before Depreciation and Tax Less: Depreciation Profit before Tax Less: Income Tax for the year Deferred Tax Profit After Tax Add: Balance brought forward Less: Taxes for the earlier years Balance available for appropriation APPROPRIATIONS Dividend on Equity Shares Tax on Dividend Transfer to General Reserve Balance carried forward PERFORMANCE HIGHLIGHTS 364.90 592.364.60 crore as against Rs.

1st April. 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities. | 21 | ANNUAL REPORT 2011-2012 . 1956. The statement pursuant to Section 212 of the Companies Act. 2012. 5. Gupta during his tenure as Director of the Company. • • SUBSIDIARY COMPANIES AND CONSOLIDATED FINANCIAL STATEMENTS In accordance with the Accounting Standard AS – 21 on Consolidated Financial Statements read with Accounting Standard AS – 23 on accounting for investments in Associates. The Company has received a notice under section 257 of the Companies Act. DIRECTORS’ RESPONSIBILITY STATEMENT Pursuant to the requirement under section 217 (2AA) of the Companies Act. The office of Mr. 2012. containing the details of the Company’s subsidiaries is attached.f. names of other company (ies) in which they hold directorship. 1956 from a member of the Company proposing the appointment of Mr. Director resigned w. 1st April. PARTICULARS OF EMPLOYEES UNDER SECTION 217(2A) OF THE COMPANIES ACT. That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit of the company for the year under review. 60.000 per month or Rs. Hemant Sharma was appointed as Additional Director of the Company w. 2012 the applicable accounting standards have been followed along with proper explanations relating to material departures. That the Directors have prepared the accounts for the financial year ended on 31st March. retire by rotation at the ensuing Annual General Meeting.JINDAL POLY FILMS LIMITED MANAGEMENT DISCUSSION AND ANALYSIS The MD&A has been included in the annual report as a separate section. V. with respect to Director’s Responsibility Statement. 2011 of the Ministry of Corporate Affairs. it is hereby confirmed.000 per annum during the year under review. The Board places on record its sincere appreciation of the valuable services rendered by Mr.00. membership of committees of the Board and their shareholdings are given in the Notice to the Shareholders. 1956 read with general circular No.00. Hemant Sharma as Director of the Company whose period of office will be liable to retire by rotation.e. Hemant Sharma will expire at the forthcoming Annual General Meeting i. DIRECTORS • • Mr.K. Mr. and being eligible. Rashid Jilani. Your Directors have pleasure in attaching the Consolidated Financial Statements which form part of this Annual Report and Accounts. 2012. There is no employee who has received the remuneration of Rs. • • That in preparation of the accounts for the financial year ended 31st March.e. CORPORATE GOVERNANCE The Company has complied with the mandatory provisions of Corporate Governance as prescribed in the Listing Agreement with the Stock Exchanges. V. • Mr. Brief resumes of above directors.e 29th September. offer himself for re-appointment. A separate report on Corporate Governance is included as a part of the Annual Report along with the Auditor’s Report on its compliance. 2012 on a ‘going concern’ basis. 1956.K.f. 51/12/2007-cl-III dated 8th February.Gupta. That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act.

760. copies of the Balance Sheet. The Buyback commenced on 25th November. 1988 regarding conservation of Energy.46. 140. Directors also take this opportunity to thanks the shareholders. 1956 are not applicable to the Company.JINDAL POLY FILMS LIMITED In term of the said circular dated 8th February. 350/. R. Goel & Company. TECHNOLOGY ABSORPTION.04.per share from the open market through stock exchanges. STATUTORY AUDITORS M/s Kanodia Sanyal & Associates. Chartered Accountants retire and being eligible. Cost Accountants. pursuant to Section 224 (1-B) of the Companies Act.00 as on 31st March. For and on behalf of the Board Place : New Delhi Dated : 1st September.22. offer themselves for re-appointment. New Delhi as Cost Auditors of the Company pursuant to section 233B of the Companies Act.563 Equity shares at an average price of Rs. 2011 was filed on 28th November. lenders and distributors for the confidence reposed by them in the Company. FIXED DEPOSITS The Company has not accepted any fixed deposits and the provisions of section 58-A of the Companies Act. Profit & Loss Account. The Cost audit report for financial year 2010-11 approved by Board of Directors of the Company on 14th November. However. 2011. The employees of the Company contributed significantly in achieving the results.77. 1956 read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules. 2011 and closed on 16th May. BUYBACK OF EQUITY SHARES The Board of Directors of the Company at its meeting held on 31st October. Your Directors take this opportunity of thanking them and hope that they will maintain their commitment to excellence in the years to come. 2011. report of Board and the Auditors of all the subsidiary Companies have not been attached to Balance Sheet of the Company.42. 1956 for the financial year 2012 – 13. ENERGY CONSERVATION. An aggregate of 39. 1956.63 per equity share were bought back absorbing a total amount of Rs.71.J. COST AUDITORS The Board has appointed M/s.35 Crore.178. ACKNOWLEDGEMENT Your Directors would like to express their gratitude to financial institutions.2012. The annual accounts of the subsidiary Companies are also available for inspection by any shareholders at the head office of the Company and that of the Subsidiary Companies concerned. 2011. The auditors have furnished certificate regarding their eligibility for re-appointment as Company’s Auditors. suppliers.04.00 as against Rs.94.130.00 crore at a maximum price of Rs. foreign exchange earnings and outgo is given in the ‘Annexure I’ forming part of this report. technology absorption. Banks and various State and Central Government authorities for the co-operation extended to the Company. customers. the annual account of the subsidiary Companies and the related detailed information shall be made available to the shareholders of the Company and of the subsidiary Companies seeking such information at any point of time. 2012 (Rathi Binod Pal) Whole Time Director DIN:– 00092049 (Samir Banerjee) Whole Time Director (Marketing) DIN:– 00011754 | 22 | ANNUAL REPORT 2011-2012 . Accordingly the paid up equity shares capital of the Company stand reduced to Rs. 2011 announced a Buyback of its fully paid up equity shares for an aggregate amount not exceeding Rs. FOREIGN EARNING & OUTGO Information in accordance with the provisions of section 217 (1) (e) of the Companies Act.

Modification in air compressed system. FORM “A” Form for Disclosure of Particulars with respect to Conservation of Energy : POWER AND FUEL CONSUMPTION (including polymer production used for captive consumption) — — — — — — — — Current Year 31. 2. BEING IMPLEMENTED FOR REDUCTION OF CONSUMPTION OF ENERGY 1.3. ENERGY CONSERVATION MEASURES TAKEN 1.82 10808435 4.28 8.2011 1 Electricity (a) Purchased from Electricity Board Total Units Rate per unit (Rs/units) (b) Own Generation (i) Through diesel generator Total Units Units/Ltrs. Installed closed loop cooling towers to reduce load on refrigeration. 2.) Total Quantity (Ltrs. IMPACT OF ABOVE MEASURES Implementation of Energy Conservation measures have resulted 1.) Total Amount (Rs.I PARTICULARS REQUIRED UNDER THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES.21 0 – – 52950320 4. of HSD/F. CONSERVATION OF ENERGY A. Installation of coal fired thermic fluid heater in place of F. ADDITIONAL INVESTMENT AND PROPOSAL. Installation of catalyst converter to reduce coal consumption. of HSD/F. 3.37 6./Units) 222811137 6. In the increase of awareness in the employees./Ltrs) 114838045 3578362 32.09 451082635 12984656 34. Installation of energy efficient equipments.68 199031081 5./Units) (ii) Through Steam turbine/ generator Total Units Units/Ltrs. Oil/LSHS & LDO Rate per unit (Rs. 2. Oil/LSHS & LDO Rate per unit (Rs. 3. In reduction of energy cost and thereby production cost. C.3. 1988 1.74 | 23 | ANNUAL REPORT 2011-2012 . Installed coal fired thermic fluid heater. B. IF ANY.2012 — — — — — — — — — Previous Year 31.19 0 – – 2 Furnance Oil/LSHS/LDO/HSD Qty.JINDAL POLY FILMS LIMITED ANNEXURE TO DIRECTORS’ REPORT Annexure.O fired thermic fluid heater. (Ltrs.) Average Rate (Rs.

65 11. Cigarette over wrapping BOPP films 7.T. Silicon Coating on BOPET films 8. of production Coal (Kg) unit per MT of production 145877952 38116019 3. Acrylic coated opaque white BOPET films for label stock FUTURE PLAN OF ACTION Steps are continuously taken for upgradation of technology which results in development of new products at lower costs.3.3. Oil/LSHSLDO/HSD (Ltrs.98 751.68 FORM ‘B’ Form for Disclosure of Particulars with respect to : A) RESEARCH AND DEVELOPMENT (R&D) Company has been giving thrust on R&D activities in following areas : • • • • • • B) New product development Specialized product development for new applications Increased efficiencies Energy conservation Improving yields Improving quality BENEFITS DERIVED AS THE RESULT OF THE ABOVE R&D Following new products developed during last financial year 1.2011 — — — — — — — — — — — — — — — — — 3 Coal Total Amount(Rs.) per M.6 Previous Year 31. Retort grade BOPET films 6. over wrap and flexible packaging 10. Biaxially Oriented Polyster/ Polyproplyne Films) Electricity units per M. of Production F. Acrylic coated BOPP films label & stock.) Total Quantity (Kg) Average Rate Consumption Per Unit of Production (Polymer Chips. Very low seal temperature broad seal range plain and metallised BOPP films 3.51 38.73 113. High hottack antifog BOPP films 2.88 249. Transparent wrap around label films 5.T. improvement of production yields and improvement in quality.83 4 775. C) D) EXPENDITURE ON R&D No specific account is kept. Chemically coated BOPET films suitable for high speed sheet fed offset printing 9. | 24 | ANNUAL REPORT 2011-2012 . Ultra low seal high density cavitated BOPP films 4. PVDC coated BOPP and BOPET films for flexible packaging 11.2012 346601028 75292560 4.JINDAL POLY FILMS LIMITED Current Year 31.

Export activities and Foreign Exchange earnings and outgo.JINDAL POLY FILMS LIMITED 2. Benefits derived as result of the above efforts.90 527. emphasis is always given on absorption of new technology. adaptation and innovation As company is setting up ultra modern oriented film lines. Foreign Exchange earnings (on FOB basis) and outgo Rs/Crores 2011-12 Earnings Outgo 581. TECHNOLOGY ABSORPTION.75 2010-11 717. ADOPTION AND INNOVATION a) Efforts in brief made towards technology absorption. Benefits derived from these efforts are improved product quality and higher efficiencies. The Company has further developed new customer base by addition of new markets like Africa and more countries in South America and Middle East.12 | 25 | ANNUAL REPORT 2011-2012 .38 498. 1) 2) 3) The Company has been continuously focusing on growth in increasing capacity of flexible packaging films with special emphasis on exports.

In case of the Cash Flow Statement. We believe that our audit provides a reasonable basis for our opinion. 2012 from being appointed as directors in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act. In our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of such books. Profit and Loss Account and Cash flow Statement dealt with by this report have been prepared in compliance with the Accounting Standards referred to in Sub Section (3C) of Section 211 of the Companies Act. As required by the Companies (Auditor’s Report) Order. Profit & Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account. The Balance Sheet. we enclose in the Annexure a statement on the matters specified in paragraphs 4 & 5 of the said order. on a test basis. 2012 and. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. we report that none of the said directors are disqualified as on 31st March.JINDAL POLY FILMS LIMITED AUDITORS’ REPORT To The Members of Jindal Poly Films Limited We have audited the attached Balance Sheet of M/S JINDAL POLY FILMS LIMITED as at 31st March. 2003. the said financial statements read together with significant accounting policies and other notes (note no. issued by the Central Government of India in terms of Section 227(4A). On the basis of the written representations received from the directors and taken on record by the Board of Directors. 2012 and also the annexed Statement of Profit and Loss Account and the Cash Flow Statement for the year ended on that date (together referred to as ‘financial statements’). For KANODIA SANYAL & ASSOCIATES CHARTERED ACCOUNTANTS Firm Registration No. In our opinion and to the best of our information and according to the explanations given to us. 1956. 1 to 30) give the information required by the Companies Act. ii. the Balance Sheet. we report that: a) b) c) d) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit. 016121 e) f) Place: New Delhi Dated: 01st September. as well as evaluating the overall financial statement presentation. In the case of the Profit & Loss Account. In the case of Balance Sheet. of the cash flows for the year ended on that date. 1956. An audit also includes assessing the accounting principles used and significant estimates made by the management. Our responsibility is to express an opinion on these financial statements based on our audit. 2012 | 26 | ANNUAL REPORT 2011-2012 . of the Companies Act 1956. An audit includes examining. evidence supporting the amounts and disclosures in the financial statements.008396N (R. These financial statements are the responsibility of the Company’s management. In our opinion. of the Profit of the Company for the year ended on that date.K KANODIA) PARTNER Membership No. 1956 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: i. Further to our comments in the Annexure referred to above. of the state of affairs of the Company as at 31st March. iii. We conducted our audit in accordance with the auditing standards generally accepted in India.

the interest payments are regular and the principal amount is repayable on demand. (b) As per the audit procedures applied by us and as per the information and explanations given to us. the management during the year has physically verified all the fixed assets of the Company and no material discrepancies between the book records and the physical verification were noticed on such verification. As explained to us. plant and machinery. there is an adequate internal control procedure commensurate with the size of the Company and the nature of its business for the purchase of stores. have been so entered. The maximum amount involved during the year was Rs. (c) Fixed assets disposed off during the year.068/. the frequency of verification is reasonable. 4. In our opinion. there were no material discrepancies noticed on physical verification of inventory as compared to the book records. In respect of loans taken by the company. therefore. 77.the year-end balance of loan granted to such companies was Rs. on the basis of our examination of the books and records of the company in accordance with the generally accepted auditing practices. is reasonable having regard to the size of the Company and the nature of its assets. In our opinion and according to the information and explanations given to us.77. nor have we been informed the existence of major weakness in the internal control procedures and systems. exceeding the value of five lac rupees in | 27 | ANNUAL REPORT 2011-2012 5. in our opinion. The company has not taken any loans during the year secured or unsecured to any Company. (d) There is no overdue amount in respect of the above loans. However. firm or party covered in register maintained under section 301 of the Companies Act. 3. (c) The company has maintained proper records of inventories. the rate of interest and other terms and conditions are not prima facie prejudicial to the interest of the company (c) In respect of loans granted by the company the interest payments are regular and the principal amounts are being received /renewed on the due dates. were not substantial and. 2.068/-. (b) In our opinion and according to the information and explanations given to us. (b) The company has a phased programme of physical verification of its fixed assets which. it does not affect the going concern assumption. equipment and other assets and for the sale of goods. (a) As per the audit procedures applied by us. In respect of fixed assets: (a) The company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. 1956. In respect of its inventories: (a) The inventory has been physically verified during the year by the management.655. As explained to us. . 655. with respect to the transactions as entered in the register maintained under section 301. we have neither come across. the transactions made in pursuance of contracts or arrangements that needed to be entered in the register maintained under section 301 of the Companies Act. (b) In our opinion and according to the information and explanations given to us. In respect of the loans: (a) The company has granted loans to one company during the year. the corrective actions were taken against the minor weaknesses as noticed and informed to them. the procedure of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business. Further. and according to the information and explanations given to us by the management.JINDAL POLY FILMS LIMITED ANNEXURE TO AUDITORS’ REPORT OF JINDAL POLY FILMS LIMITED (Annexure referred to in our report of even date) 1. raw material including components.

According to the information and explanations given to us. the prices at which these have been made are reasonable having regard to the prevailing market prices at that time. Therefore. debentures and other securities.70 0. Commissioner 2. Investor Education and Protection Fund. Therefore.45 17.08 2. In our opinion the company has an internal audit system commensurate with the nature and size of its business. and other investments have been held by the Company in its own name. the company is not a Chit Fund/Nidhi/Mutual Fund/ Society. the company has not accepted any deposits from the public. In our opinion.Y 2006-2007 CIT(A) F.Y.Y 2008-09 Sales Tax Tribunal (2002-03 TO 2007-2008) Asst.Y. Sales Tax Act 3. 8.Y 2007-08 CIT(A) F.87 1. 1956 and are of opinion that prima –facie the prescribed records and accounts have been maintained by the company.Y 2000-01 CIT(A) F. no undisputed amounts payable in respect of the aforesaid dues were outstanding as at 31st March 2012 for a period of more than six months from the date of becoming payable.59 613. customs.51 0.2000-2001 ITAT F.2004-2005 ITAT F. We have broadly reviewed the cost records maintained by the company pursuant to the order made by the Central Government for the maintenance of cost records u/s 209(1)(d) of the Companies Act. sales tax. debentures.JINDAL POLY FILMS LIMITED respect to any party during the financial year.Y. 9. However.52 1811.44 15. the provisions of Clause (vi) of the Companies (Auditors Report) Order. Income-Tax.Y 1997-98 CIT(A) F. 13. 11. the company has not defaulted in the repayment of dues to the financial institutions or to the banks or to the debenture holders.Y 2003-04 CIT(A) F. | 28 | ANNUAL REPORT 2011-2012 .0 68.46 1. debentures and other investments timely entries have been made therein. (a) (b) According to the information and explanation given to us. The Company has not incurred cash losses during the financial year covered by the audit and in the immediately preceding financial year. details of dues of income tax. excise. 2003 are not applicable to the Company. According to the information and explanations given to us. clause 4(xiii) of the Companies (Auditor’s Report) Order. 12. 7. All shares. The company is regular in depositing the undisputed statutory dues including Provident Fund. Income Tax Act Nature of the dues Income Tax demand Income Tax demand Income Tax demand Income Tax demand Income Tax demand Income Tax demand Income Tax demand Income Tax demand Income Tax demand Income Tax demand Sales Tax Demand Demand Amount Disputed (Rs/Lacs) 391. Wealth-tax.66 Forum where dispute is pending ITAT F. Custom Law Act 10. 14. the company has not granted any loans and advances on the basis of security by way of pledge of shares.Y 2005-06 CIT(A) F. The Company does not have accumulated losses at the end of the financial year. Employees State Insurance. 6.1998-99 CIT F. Cess and other statutory dues have been regularly deposited with the appropriate authorities during the year. Sales Tax. According to the information and explanations given to us and as per the books of accounts examined by us. According to the information and explanations given to us. wealth tax and service tax which have not been deposited on account of any dispute are given below: Nature of the Statute 1. The Company has maintained proper records of transactions and contracts in respect of trading in securities. Custom Duty. Excise Duty. 2003 is not applicable to the company. we have not made a detailed examination of these records to verify whether they are accurate or complete.23 82.

term loans were applied for the purpose for which the loans were obtained. noticed and reported during the year. According to the information and explanations given to us and as per the books and records examined by us. and on the basis of our examination of the books and records of the company carried out in accordance with the generally accepted auditing practices in India. as on the date of balance sheet. For KANODIA SANYAL & ASSOCIATES CHARTERED ACCOUNTANTS Firm Registration No. 19. the funds raised by the company on short-term basis have not been applied for long-term investments and vice versa. hence. 016121 | 29 | ANNUAL REPORT 2011-2012 .K KANODIA) PARTNER Membership No. 21. Based on information and explanations given to us by the management.JINDAL POLY FILMS LIMITED 15. According to the information and explanations given to us. 1956. According to the information and explanations given to us. 2012 (R.008396N Place: New Delhi Dated: 01st September. 20. the Company has not given any guarantees against loans taken by others from banks & financial institutions. 16. 17. The Company has not made any preferential allotment of shares to parties and Companies covered in the register maintained under section 301 of the Companies Act. 18. The company has not raised any money through a public issue during the year. The company does not have any debentures outstanding as on the Balance Sheet date. the clause 4(xix) of the order is not applicable. we have not come across any such instance of fraud on or by the company.

395 292.015.710 1.849 25.208 1.2012 | 30 | ANNUAL REPORT 2011-2012 .760 16.294 2.115.667.171.262 17.173.149.259.686.562 538.09.956 1. 460. KANODIA) Partner M No : 016121 (R.187.913 12.643.475.P.501.615. EQUITIES & LIABILITIES 1) Shareholder’s Funds a) Share Capital b) Reserves & surplus 2) Non-Current Liabilities (a) Long-term borrowings (b) Deferred tax liabilities (Net) 3) Current Liabilities (a) Short-term borrowings (b) Trade payables (c) Other current liabilities (d) Short-term provisions Total II.205.136.261.184 1.191.024.347 4.03.089.381.425.703.938 9 12.107 17.712.953.218.712.392.735. B.374 164.Marketing DIN:– 00011754 (L.604.823.456 986.247 2.331.885.988.646.990.089.644.533 298.249.113.2011 Rs. K.615.337 1.541 1.462 1.375. Banerjee) Whole Time Director.651.566.604.550 16.537 1.117.613.991.651.036 ————————— ————————— 26.666 8.089 1.628.987.502.613.784.789.157 2.451. ASSETS 1) Non Current Assets a) Fixed Assets (i) Tangible assets (ii) Intangible assets (iii) Capital work-in-progress (iv) Intangible assets under development (b) (c) (d) (e) Non-current investments Deferred tax assets (net) Long term loans and advances Other non-current assets 31.436 (2) Current assets (a) Current investments (b) Inventories (c) Trade receivables (d) Cash and cash equivalents (e) Short-term loans and advances (f) Other current assets Total Signficant Accounting Policies & Notes on Financial Statements As per our report of even date annexed hereto For Kanodia Sanyal & Associates Chartered Accountants 12 13 14 15 16 17 ————————— 2.409 160.557.610.866.485.438.03.508.507 4.033.166.980 - ————————— ————————— 10 11 ————————— 17.557.Soni) CFO Place: New Delhi Date: 01.155.737.105.657 2.535.713.559 483.2012 Rs.044.029.928.623.692.542 4.422.938 1-30 (R.397 16.625.JINDAL POLY FILMS LIMITED BALANCE SHEET AS AT 31st MARCH 2012 NOTE I.670.299.775. 430.568.150.462 2.840.076. Pal) Whole Time Director DIN:– 00092049 (Ajit Mishra) Company Secretary (S.944 ————————— 12.115.999 ————————— 4.745 ————————— 4.230 489.502 ————————— ————————— 26.537 1 2 3 4 5 6 7 8 ————————— ————————— ————————— 4.321.594.870.117 13.787 229.110 1.486.684 258.936.193 ————————— ————————— ————————— 1.153 31.291.499 1.906 ————————— ————————— ————————— 8.527.071.849 25.

2012 | 31 | ANNUAL REPORT 2011-2012 .508 (25. Banerjee) Whole Time Director.000 (159.933 8.294. Tax expense of discounting operations XIV.000) ————————— ————————— 1.590.510.000) ————————— ————————— ————————— ————————— (28.092 261.210.578. K.068.VI) VIII.686. Less :.72 For Kanodia Sanyal & Associates Chartered Accountants (R.994.Exceptional Items VII.35 128.686.786.522.300. Profit/(Loss) for the period (XI + XIV) XVI.624.288 27.284 8.963 3.828 (344.706. Earning per equity share: Earning per Share(Basic & Dilluted) Signficant Accounting Policies & Notes on Financial Statements 1-30 30.248) 5.757) 241.499 3.168.168.000 ————————— ————————— 554.100.154.741 842.686) 1.03.951. Profit before exceptional and extraordinary items and tax VI.530 61. Pal) Whole Time Director DIN:– 00092049 (Ajit Mishra) Company Secretary (S. Profit/(Loss) from discontinuing operations XIII.814 2.248) (5.814 8. KANODIA) Partner M No : 016121 (R. 27.726 14.508 18.054. 2012 Year Ended 31. Profit/(Loss) for the period from continuing operations XII.XIII) XV.966.463 20 21 22 23 9 24 15.703 Notes REVENUES I.795.033 Year Ended 31.834.508 1. Revenue from Operations II.759 109.491.053.965.371.255 186.101.643.830.557.2011 Rs.414. work-in-progress and Stock-in-Trade Employee benefit expenses Financial costs Depreciation and amortization expenses Other Expenses IV.926.380 ————————— ————————— ————————— ————————— ————————— ————————— ————————— ————————— 21.446. Total Expenses V.000.612. Total Revenue (I +II) EXPENSES Cost of materials consumed Changes in inventories of finished goods.094 2. Profit before extraordinary items and tax (V .JINDAL POLY FILMS LIMITED PROFIT AND LOSS STATEMENT FOR THE YEAR ENDED 31ST MARCH.000 119. Profit/(Loss) from Discontinuing operations (XII .391.325.682.168.572.333.371.198 301.260 5.855.217.698.700.248 271. B. Other Income III.Provision for Taxation . Extraordinary Items IX.Marketing DIN:– 00011754 (L.961.P.6 18 19 ————————— ————————— ————————— ————————— 23.000) (20.269.194 (743.873 30. Soni) CFO Place: New Delhi Date: 01.786.331 880.778 204.955.2012 Rs. Profit after extraordinary items and before tax (VII .803.529.03.462.947.386. Add/(Less) :.VIII) X.911.405.716.370.502.941) 1.354.09.Current tax .814 (36.Deferred tax XI.446. 23.941) (7.

244.222) 296.805.910.715.253) (461.417. Cash Flow from Operating activities: Net Profit before tax and extraordinary items Adjustment for: Depreciation (Profit)/Loss on sale of Assets (net) (Profit)/Loss on sale of Investment (net) Provision for diminution in value of Investments Exchange Fluctuation on financing activities Interest Income Dividend Income Interest on Borrowings 1.389.233 6.053.981.020 74.609. Cash Flow from Investing Activities: Purchase of Fixed Assets Sale of Fixed Assets Purchase of Investments Sale of Investments Interest Received Dividend Received Net Cash used in Investment Activities (B) C.020) (74.877.166.442.722 — — — — — — — — — Year ended 31.P.619.020) (259. K.417.378 — — — — — — — — — 966.356.540.014.633.616.051.473.JINDAL POLY FILMS LIMITED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 ST MARCH.09.336 178.446.613) 34.160. 2011 (Opening Balance) Cash and Cash equivalents as at period end 31 March 2012 (Closing Balance) As per our report of even date annexed hereto For Kanodia Sanyal & Associates Chartered Accountants (R.329) — — — — — — — — — — — — — — — — — — — — — — — — — — — 449.765.979 (17.693 (2.140.341.824 (698. KANODIA) Partner M No : 016121 Place: New Delhi Date: 01.669.014.603.691 4.110 (S. Cash Flow from Financing Activities: Increase/(Repayment) of Borrowings Shares Buyback Dividend paid Exchange Fluctuation on financing activities Interest Paid Net Cash from Financing Activities (C) Net increase/(decrease ) in Cash and Cash equivalents(A+B+C) Cash and Cash equivalents as at 1st April.228.957.361 (7.082) 1.909 — — — — — — — — — 597.Marketing DIN:– 00011754 (L.253 1.433.354.722) (625.960.674 229.640) — — — — — — — — — — — — — — — — — — 3.715.907) 237.817.815.628 (4.829.813 7.420.619.785) (4.158 707.764.638 Operating Profit before Working Capital changes Adjustments for: Inventories Trade receivables Loans & Advances Trade Payables and Other Liabilities Cash Generated from Operations Direct Taxes paid Net Cash from Operating Activities B.559 160.888) 237.888 — — — — — — — — — — — — — — — — — — (2.268.633. Pal) Whole Time Director DIN:– 00092049 (Ajit Mishra) Company Secretary (A) 9.778.709) (21.833.166.476) — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — 9.588) (6.493 — — — — — — — — — — — — — — — — — — (1.853.036 3.072.918.655.03. B.449) 229.186 (605.544. 2012 Year ended 31.307) 14.778) (96.649.223.965.502) (133.384 179.362.146 (268.148.887.320.378 (596.711 135.115.041.2012 (R.336) (1.047) 7.400) (802.778 96.659.076.927) (34.874 (2.760.132) (670.481.907 — — — — — — — — — — — — — — — — — — (773.399.244.804.226. A.611.057.778) 517. 8.015.260 902.869.558 6.2011 Rs.048.2012 Rs.529.266) 2.677.765.573) 20.640.603. Soni) CFO | 32 | ANNUAL REPORT 2011-2012 .776) 4.115) 899.508 (528.559 (69.03.873 871.140. Banerjee) Whole Time Director.269 (2.271.709.628.361) (237.068.244.437 21.955.185.588 (237.

JINDAL POLY FILMS LIMITED

SIGNIFICANT ACCOUNTING POLICIES
i. Basis of Preparation During the year ended 31st March 2012, the Revised Schedule VI notified under the Companies Act, 1956, has become applicable to the Company, for presentation of its financial statements. The adoption of Revised Schedule VI does not impact recognition and measurement principles followed for preparation of financial statements. However, it has significant impact on the presentation and disclosures made in the financial statements. ii. Recognition of Income and Expenditure All revenues and expenditures are accounted for on accrual basis except wherever stated otherwise. iii. Sales Sales, other than export sales, are inclusive of Excise Duty and shown net of returns and discounts. The Company is engaged in the business of manufacturing & sales of various types of films of various dimensions and grades. As per the Company’s usual policy, the low graded/surplus stock of films are sold at special discounted prices and such discounts are adjusted in unit sale price. iv. Tangible Assets Tangible Assets are stated at cost less depreciation. v. Depreciation Depreciation on fixed assets has been calculated on Straight Line method on pro-rata basis at the rates specified in Schedule-XIV of the Companies Act, 1956. However, in case of plant and machineries where ever applicable, higher depreciation rates are charged based upon residual useful life. vi. Investments Current Investments are valued at acquisition cost or market value whichever is lower. Non- Current investments(Long Term) are valued at acquisition cost. Diminution in value of Non-Current investment is provided only if such a diminution is other than temporary in the opinion of the management vii. Inventories Items of inventories are measured at lower of cost and net realisable value after providing for obsolescence ,if any. Cost of inventories comprises of cost of purchase, cost of conversion and other costs including manufacturing overheads incurred in bringing them to their respective present location and condition. Cost of raw materials is determined on FIFO basis , cost of process chemicals, stores, packing materials are determined on weighted average basis. Non usable wastes .are valued at net realizable value. viii. Excise Duty Excise duty is accounted for and included in the closing stock valuation of finished goods. ix. Foreign Currency Transactions Exchange difference arising on repayment of foreign currency liabilities taken for the purpose of acquiring fixed assets, which are carried in terms of historical cost, are recognized as income or expenses for the year as the case may be. Exchange difference arising due to reinstatement of outstanding foreign currency loans taken for acquiring the fixed assets, by applying the closing rate of such foreign currency or the rate as per forward exchange contract if any, are recognized as income or expenses for the year as the case may be. Exchange difference arising on foreign currency transactions other than those relating to liabilities incurred for the purpose of acquiring fixed assets, are recognised as income or expenses for the year as the case may be. Any profit or loss arising on cancellation or renewal of a forward exchange contract in those cases is also recognised as income or expense for the year. All current assets and current liabilities in any foreign currency outstanding at the end of the year are translated by applying the closing rate or the rate as per forward exchange contract, if any. x. Export Benefits Export incentives in the form of Duty Entitlement Passbook Scheme (DEPB) are accounted for on accrual basis and is credited to the raw material cost. Duty Draw Back benefit is also accounted for on accrual basis and treated as income from operations. Advance Licenses obtained against actual export made are being accounted on accrual basis based upon difference between domestic vs. imported raw material prices prevailing at the end of the period and is adjusted to raw material cost.

| 33 | ANNUAL REPORT 2011-2012

JINDAL POLY FILMS LIMITED
xi. Employee Benefits i. Short term Employee Benefits All employee benefits payable only within twelve months of rendering the service are classified as short term employee benefits. Benefits such as salaries, wages etc. and the expected cost of bonus, exgratia, incentives are recognized in the period during which the employee renders the related service. ii. Post employment Benefits (a) Defined Contribution Plans State Government Provident Fund Scheme is a defined contribution plan. The contribution paid/payable under the scheme is recognized in the profit & loss account during the period which the employee renders the related service. (b) Defined Benefit Plans The employee Gratuity Fund Scheme managed by a trust is a defined benefit plan. The present value of obligation under such defined benefit plan is determined based on actuarial valuation under the projected unit credit method which recognizes each period of service as giving rise to additional unit of employees benefits entitlement and measures each unit separately to build up the final obligation. The obligation is measured at the present value of future cash flows. The discount rates used for determining the present value of the obligation under defined benefit plans is based on the market yields on government securities as at balance sheet date, having maturity periods approximated to the returns of related obligations. Actuarial gains and losses are recognized immediately in the profit & loss account. In case of funded plans the fair value of the planned assets is reduced from the gross obligation under the defined benefit plans to recognize the obligation on net basis. (c) xii. The obligation for leave encashment is provided for and paid on yearly basis.

Borrowing Costs Borrowing costs that are directly attributable to the acquisition of assets are being capitalized as part of the cost of that asset up to the date of such asset is ready for its intended use. All other borrowing costs are charged to revenue in the period when they are incurred.

xiii.

Taxation a) Current Year Charge Provision for Income-tax is ascertained on the basis of assessable profits computed in accordance with the provisions of the Income-tax Act, 1961. b) Deferred Tax The company provides for deferred tax using the liability method, based on the tax effect of timing difference resulting from the recognition of items in the financial statements and in estimating its current income tax provision.

xiv.

Earnings Per Share Earning per share is calculated by dividing the net profit for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year.

xv.

Miscellaneous Expenditure Preliminary expenditure/ share issue expenses are being written off over a period of five years.

xvi.

Expenses during construction period Expenses incurred during construction period are capitalised as part of the cost of that asset up to the date of such asset is ready for its intended use, except where some expenditure paid during subsequent year pertaining to already installed Asset.

xvii.

Impairment of Assets An Asset is treated as impaired when the carrying cost of asset exceeds its recoverable value. Impairment Loss is charged to Profit & Loss A/c in the year in which impairment is identified.

xviii. Income from investments/Deposit Income from investments is credited to revenue in the year in which it accrues. Income is stated in full with the tax thereon being accounted for Under Income tax deducted at source. Dividend income when the owner’s right to receive its investments payment in shares established. xix. Contingent Liability Contingent Liabilities, if material, are disclosed by way of notes.

| 34 | ANNUAL REPORT 2011-2012

JINDAL POLY FILMS LIMITED

NOTES
As at 31.03.2012 Rs. As at 31.03.2011 Rs.

1 SHARE CAPITAL
AUTHORISED 105,000,000 (105,000,000) Equity Shares of Rs.10/- each 100,000,000 (100,000,000) Preference Shares of Rs.10/- each 1,050,000,000 1,000,000,000 2,050,000,000 1,050,000,000 1,000,000,000 2,050,000,000

— — — — — — — — — — — — — — — — — —

— — — — — — — — — — — — — — — — — —

ISSUED, SUBSCRIBED & PAID UP 43,021,855 (46,042,276) Equity Shares of Rs. 10/- each Notes on Share capital :1 Recoinciliation of Shares outstanding at the beginning and at the closing of the reporting period: Particulars Opening Balance Add: Issue by way of bonus shares Less: Buyback of equity shares Closing Balance 2

— — — — — — — — — — — — — — — — — — — — — — — —

430,218,550

— — — — — — — — — — — — — — — — — — — — — — — —

460,422,760

430,218,550

460,422,760

No. of Shares 46,042,276 3,020,421
— — — — — — — — — — — — — — — —

No. of Shares 23,021,138 23,021,138 46,042,276

— — — — — — — — — — — — — — — —

43,021,855

Details of each shareholder holding more than 5 percent shares specifying the number of shares held. Name of Shareholder Jindal Photo Investments Limited Soyuz Trading Company Limited Rishi Trading Company Limited No. of Shares 11450302 11848266 4999056 % 26.62 27.54 11.62 No. of Shares 11450302 11348266 4499056 % 24.87 24.65 9.77

3

23,021,138 Equity Shares were issued as Bonus Shares by way of utilisation of Capital Redemption Reserves during the last financial year 2010-11 in the ratio of 1:1. The Company has bought back following equity shares during last five years: Financial Year 2008-2009 2009-2010 2011-2012 No. of Shares 2271735 2803007 3020421

4

5

Pursuant to the approval of the Board of Directors of the Company, for buyback of equity shares U/s 77A of the Companies Act, 1956 being less then 10% of Paid up capital and free reserve, during the financial year 2011-12. Company has bought back 3,020,421 equity shares and extinguished the same. A total of 3,020,421 equity shares were bought back and extinguished during the year ended 31st March 2012 through open market for an aggregate amount of Rs. 528,148,502 by utilizing the security premium and general reserve to the extent of Rs. 497,944,292 and Rs. 30,204,210 respectively. The Capital redemption reserve has been credited out of general reserve for Rs 30,204,210 being the nominal value of the share bought back U/s. 77A of he Companies act, 1956.

| 35 | ANNUAL REPORT 2011-2012

673.150.858.119.528.370.Equity Shares .566.283 17.462 Notes on Secured Loans : Term loans from banks are secured by first pari-pasu equitable mortgage of immovable properties of the company situated at Gulaothi (U.111.349 ———————— 60.187.203.926.03.150.000. The above foreign currency loans are repayable on yearly/half yearly basis and the last repayment is due in September.000.040 2.380) 1.780.998 ———————— 4.579.200 7.810 ———————— —— — — — — — — — ———————— ———————— 16.040 30.200 422.052.407.208 2. | 36 | ANNUAL REPORT 2011-2012 .953.795.090. 1. RESERVES & SURPLUS CAPITAL RESERVE As per last Balance sheet CAPITAL REDEMPTION RESERVE As per last Balance sheet Less: Capitalised by issue of Bonus Shares Add: Transferred from General Reserve SECURITIES PREMIUM RESERVE As per last Balance sheet Less: premium on equity shares bought back EXPORT PROFIT RESERVE As per last Balance sheet AMALGAMATION RESERVE As per last Balance sheet GENERAL RESERVE As per last Balance sheet Less: Transfer to Capital Redemption Reserve Add : Transfer from Profit & Loss account PROFIT & LOSS ACCOUNT Balance as per previous year Add: Profit for the year as per Profit & Loss Statement Less: Proposed Dividend .690 18.000 1.2011 Rs.810 1.000 ———————— 2.000 60.788 5.024.349 .936.832.000 3.211.210 ———————— 1.936.462 2.000 4.Tax on Proposed Dividend Less: Transfer to General Reserve As at 31.584.557.107 ———————— 16.250 ———————— 1.000 422.342.566.021 4.579.282. & Nasik (Maharastra) and hypothecation of all movable assets (save and except book debts) subject to prior charge of the banks for working capital requirements.000.481.P).873 115.780.000 7.713.858.049.579.090.976 500.832.2.998 30.397 ———————— 3.105.187.000 1.944.128.142.953.292 ———————— 2.420 (230.000.998 8.349 497.260 105. Foreign currency term loans from AKA Ausfuhrkredit-Gesellschaft mbh Germany and Commerzbank Germany are guaranteed by HERMES Kreditversicherungs-Aktiengesellschaft Germany.204.392.528.JINDAL POLY FILMS LIMITED NOTES 2.528.210 500. LONG TERM BORROWINGS SECURED LOANS FROM BANKS Foreign Currency Loans 2. As at 31.407.208 ———————— ———————— ———————— ———————— 2.812 5. 2017.336.2012 Rs.057 2.079.147.128.111.204.000.775.03.780.407.648 5.140.877.000.

JINDAL POLY FILMS LIMITED NOTES As at 31.03.908.537 The Net Defered Tax Liability recognised in the Profit & Loss Account as recommended under Accounting Standard (AS)-22 on “Deferred Taxation” issued by The Institute of Chartered Accountants of India is as under Changes During the Year Rs .321.654.784.000) (218.691. Previous year Rs 4669.332.1728.922.537 (159. 31.931 158.2011 Rs.SECURED WORKING CAPITAL LOAN (Includes bill discounting of Rs. 5.685 (33.142.000) ———————— ———————— 1.105. SHORT TERM BORROWINGS A) LOANS REPAYABLE ON DEMAND I) FROM BANKS . finished goods.956 ———————— ———————— 986.11 Rs.P.12 Rs.835) 1. Deferred Tax Liability being tax impact thereon Diffrence between written down value of block of assets as per Income tax laws and written down value of the fixed assets as per books of accounts Deferred Tax Assets being tax impact there on Expenses charged in the books . stores and spares and book debts of the company.951. As at 01.537 ——————— 1.421.095.03. but allowances thereof deferred under income tax Net Defered Tax Liability As at 31.596.115.076.321.789.643.176 1.625.735.2012 Rs.830.182 1. 1.537 119.537 ——————— 1.928. goods in transit.784. 178.687) (159.774 ———————— ———————— 1.) and Nasik (Maharastra).537 1. 31.259.03.952.541 | 37 | ANNUAL REPORT 2011-2012 .877.414.600.665.735.95 lacs. As at 31.03.735.308. (125.280 ———————— ———————— 1.784.UNSECURED WORKING CAPITAL LOAN 646.2011 Rs.537 31.456 Notes on Secured Loans : Secured Working Capital Loans from banks are secured by way of hypothecation of all stocks of raw materials.03.342 807.735.735.03.780 947.537 31.04.784.625. These are further secured by way of second pari-pasu charge on immovable properties of the company situated at Gulaothi (U.148) 1. 4.049.34 lacs) . DEFERRED TAX LIABILITY DEFERRED TAX DEFERRED TAX LIABILITY Opening Balance Addition during the year ——————— 1.03.625.2011 Rs.2012 Rs.843.372 (93.2012 Rs.505.000 ——————— 1.414. TRADE PAYABLES For Capital Goods For Others 65.199 6. semi finished goods.000.710 ———————— ———————— 1.321.313) 1.

673.738 25.003 1.859 32.747 16.641 1.425.356.557.003 1.952.029.672.740.755.691 902.541 12.626 21.507.477 9.784 17.095.489.712.311.141.291.651.743.153 - ———————— ———————— 298.232.270 573.747 17.936 27.529 20.980 .977.985 10.382 16.322.065.672 54.715.835.508 16.941.451.972 101.451.192.325.610 538.2012 AS AT 31.755.315 9.623. 708.460.931 18.296.951 538.496.291.843 9.216 16.193.951 10.971 11.990.601 12.882.822.099.7.117 54.014.21587192/-(previousyearRs.897 489.903 23.430.563 172.105.033.442.126.895 105.119.000 34.502.954 54.613.127 27.796.644.086 ———————— ———————— ———————— ———————— ———————— 1.828.438 *ThisfigureincludesthedepreciationrelatedtodiscontinuedoperationamountingtoRs.03.076.617.978 24.852.050.426 13.688 33.822.031 60.028.534 741.654 7.114.173.655 489.870.03.349 126.04.533 8.100. SHORT TERM PROVISIONS Provision of Excise Duty on Finished Goods Proposed dividend on equity shares Tax on Proposed dividend Provision for Taxation (Net of Advance Previous year Rs.776 16.770.413.676.263.542 482.105.557. FIXED ASSETS GROSS BLOCK PARTICULARS AS AT 01.646.908.179.456 15.023.426.943.976 64.458.067.096 1.121.138 215.308.009.512.269.009.03.976.407 6.054 975.163.28750373/-) | 38 | ANNUAL REPORT 2011-2012 .226.182 6.507 100.375 50.766 17.252.822.04.602.690 18.883 67.562 9.096.151.481 115.149.530.127 215.021 ———————— ———————— 164.895 1.995.87.644.738.617.306.230 12.899.440.969.168.2011 TANGIBLE ASSETS Land(Freehold) FactoryBuildings OtherBuildings Plant&Machinery Furniture&Fixture OfficeEquipments Computers Vehicles TradeMark TOTAL CapitalworkinProgress GRANDTOTAL PREVIOUSYEAR 18.441 22.451.207.719.902 3.818.673.JINDAL POLY FILMS LIMITED NOTES 7.931 483.693.011 1.482.426 12.534.755.617.513.442.568.980 19. 853.562.413 1.963.792.303.534.03.772 19.818.389 6. OTHER CURRENT LIABILITIES Current maturities of Long Term Debts Interest on Loans accrued but not due Amount received in Advance from customers Unpaid Dividends Staff Security Payables Other Payables Duties & Taxes Staff Payables Advance Licence Due As at 31.445 43.177 552.687.044.117 21.248 902.2012 Rs.644.003 2.755 6.834.070 164.516.389 12.692 17.847 32.956.758 41.347 12.550 3.654 7.052.894 As at 31.437.402 1.560.537.502.389 5.466 46.781.235 68.345 1.2012 NET BLOCK AS AT 31.680.640 1.2011 Rs.469.374 136.715.212 2.064.046.336 196.565 43.754.299 27.743.2012 AS AT 01.121 22.516.970 1.894 12.691 871.003 2.312 3.480 25.283 17.858.680.461.261.535.263.602.672 168.197.632 54.212 ———————— 1.936.712.734 2.546.712.2011 ADDITIONS SALE/ ADJUSTMENT TOTAL 31.885 69.640.744.171 405.996.957 including tax deducted at source) 41.306 16.03.320.790.908.264.568.562 6.419 46.314 4.03.2011 DEPRECIATION FOR THE* SALE/ YEAR ADJUSTMENT TOTAL 31.755.853 6.322.495 1.923 816.586 17.637 75.04.546.

000 1.011 — — — — — — — — — — — — — — — — — — — — — — — — | 39 | ANNUAL REPORT 2011-2012 10.999.900 500.130.926 3.970.054.2012 Rs.826 3. (iv) In Associates Jindal India Powertech Limited (Rs.724.583.246 300 100 100 500 441. 10 Jindal France SAS EURO1 Jindal Resources (Mozambique) Lda.224.472.548 6.186.000 50.7 paidup. MT1 Jindal Resources (Mozambique) Lda.000 500.521.000 866.782.499. Garware Polyester Ltd.000 .2012 As at 31. Coal India Ltd Consolidated Finvest & Holdings Ltd.858 8.000 1.850 4.548 50.000 419.200 436.017.500.246 — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — 138.724.067.093 1.000 3.000 1.375 108.063 (10.000 3.367.898 (ii) Non Trade .067.7 paidup) Jindal France SAS Less : Provision for Dimunition in value of Investments of Jindal France SAS - - - 11 11 121 121 10 EURO1 436. 10 1 10 5 10 10 300 100 100 500 441.047.097.472.858 138.186. 4.000 50.000 64. As at 31.000 2.000 167.785 30.330 50.850 4.898 8.JINDAL POLY FILMS LIMITED NOTES NUMBER OF SHARES FACE VALUE Rs. Ester Industries Ltd.050.891.03.472.991.Equity Shares (Unquoted) Equity shares (iii) Equity Shares Warrant Garware Polyester Ltd.416 — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — TOTAL Aggregate value of quoted Investments Aggregate value of unquoted Investments Market Value of Quoted Investments * The dimunition in value of investments represents the provisions made on following investments: a) Jindal Resources (Mozambique) Lda b) Haldia Synthetics Rubber Ltd. As at 31.050.121 — — — — — — — — — — — — — — — — II) In Subsidiaries (a) Equity Shares (UnQuoted) Hindustan Thermal Power Generation Limited 10 Jindal Metal & Mining Ltd.684 4.000 500.502. last year Rs.900 500.450 12.785 30.395 — — — — — — — — — — — — — — — — 138.000 500. Share Application Money Pending allotment Less:Provision for Dimunition in value of Investments* 450.133.044.000 499.000 64.354 10.000 7.974.417) 919. 10 Haldia Synthetic Rubber Ltd.500 11.472.03.518.537 209.571.354 920.03.417 500.518.858 138. India Foils Ltd.2011 As at 31.113.093 1.020) - — — — — — — — — — — — — — — — — 3.012.500 11.000.927.000 50.858 4.03.500.367. 10.050.000.000 94.155.000 46.054.417 10.000.051 248.375 108.062 94.2011 Rs. NON CURRENT INVESTMENTS In Equity Instruments (Long Term) (I) Non Trade (i) Equity Shares (Quoted) Phil Corporation Ltd.450 12. 10 Jindal Poly FinanceLimited 10 Jindal Poly film Investments Ltd.054.825 (124.228.

272 – 36.499 NUMBER OF SHARES FACE VALUE Rs.913 ———————— ———————— 292.222 341.2012 Rs.215 61.764 20. As at 31.000 – – – 52.807.984.994 – – 250.000.000 – – – 4. As at 31. 12.000.804.000. CURRENT INVESTMENTS In Mutual Funds (Short Term) (I) (II) (III) (IV) (V) (VI) Biral Sunlife Saving Fund Inst.823.03.660 150.170.443 19.729.235.025.000 200.302.588.907.000. Dividend Reinvestment Weekly Birla Sun Life Fixed Term Paln Series Dl Growth Birla Sunlife Short term FMP series 11 Dividend Reinvestment Weekly Birla Sunlife Floating Rate Fund Short Term Daily Dividend Option Fidelity Short Term Income Fund Dividend Daily Dividend Option Fidelity Short Term Income Fund Dividend Growth 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 – 20.000 20.651.922.000 15.393.366.000 – 250.932 150.010.872.107. 11. As at 31.166 – 200.081 13.880 150.985.920 255.451 14.720 – 369.000 – 25.032.375.939 200.000 200. LONG TERM LOANS AND ADVANCES (Unsecured -considered Good) Loans and advances to related parties Loans and advances to Others Capital Advances Security Deposits – – 244.985.000.820.300 203.000 100.000 10.000.000 20.03.418 ———————— ———————— 258.002.000.03.973 (VII) ICICI Prudential Blended Plan B Daily Dividend Option I Daily Dividend Option (VIII) ICICI Prudential Banking & PSU Debt Fund Daily Dividend Option (IX) (X) (XI) ICICI Prudentail FMP Series One Year Plan HDFC Cash Management Fund Daily Dividend KOTAK FMP Series 56 (XII) KOTAK FMP Series 57 (XIII) Reliance Quarterly Interval Fund Series II Inst Dividend Daily Dividend Option (XIV) Reliance Fixed Horizen Fund XX Series 21 Growth Plan (XV) SBI Debt Fund Series 367 Days 2 Growth (XVI) Tata Floater Fund Dividend Reinvestment Weekly (XVII) TATA Fixed Maturity Plan Series 36 Scheme C | 40 | ANNUAL REPORT 2011-2012 .412 6.462 – – 278.2012 As at 31.2011 As at 31.000.03.000 100.03.000.000.2012 Rs.JINDAL POLY FILMS LIMITED NOTES As at 31.766 15.03.142.728 – – 25.076.000 10.000.2011 Rs.692 24.012 14.014.000.000.2011 Rs.187 33.

83.000.73 lacs)) As at 31.294 1.116.301 ————————— 9.331.500.03.08.117/-pledged as Margin Money with appropriate authority Previous Year Rs 66.481 25. INVENTORIES ( As per Inventories taken. Previous Year Rs 21.03.809.2012 Rs.694 1.337 ————————— 483.015.019 144.102 132.000.501. (XVIII) TATA Fixed Maturity Plan Series 36 Scheme B (XIX) TATA Fixed Maturity Plan Series 36 Scheme C (XX) UTI Floating Rate Fund STP Daily Dividend Plan (XXI) UTI Fixed income Interval Fund Annual Interval Plan TOTAL — — — — — — — — — — — — — — — — 2.92.375.233.686.498 2.670.988.071. valued and certified by the Management) (i) Finished Goods (ii) Raw Material (Including in Transit Rs.787 ————————— 15. 21821.710.881 16.000 100.617 ————————— 160.JINDAL POLY FILMS LIMITED NUMBER OF UNITS FACE VALUE Rs.2011 Rs.095.000.523 ————————— 2.660.223 ————————— 821.000 150.767 5.115.336 423.207 As at 31.504. 13.440.613.117 1.289 ————————— 1.502.097.910 2.2012 Rs.03.166.240.475.184 ————————— | 41 | ANNUAL REPORT 2011-2012 .117/-) 238.632.762 ————————— 290.575 722. considered Good) Outstanding for period exceeding six months from the due date Other Receivables 25.2011 As at 31.366.03.089 ————————— 2.000.807 23. TRADE RECEIVABLES ( Unsecured.726.554.000.814 19.790.2011 Rs.033.703.47. CASH & BANK BALANCES Cash & stamps in hand ( including Drafts/ Cheques) Balance with Schedule Banks In Current Accounts In Dividend Accounts In Fixed deposit Accounts (having maturity for less than 12 months) In Fixed deposit Accounts (having maturity for more than 12 months) (Fixed Deposits of Rs. As at 31.541 938.555.409 ————————— 2.03.068) (iii) Scrap (iv) Store.645. SHORT TERM LOANS AND ADVANCES (Unsecured -considered Good) Loans and advances to related parties Other Loans and advances 311.000 10.44 lacs (Previous Year Rs.000 As at 31.667.13.058 196.366 509.152 23. 10 10 1000 10 As at 31.332.892.641.16158.559 ————————— 16.613. Spares and Tools (v) Packing Material 520.000 10.950 193.03.462 — — — — — — — — — — — — — — — — (Net Asset Value of investment in Mutual Funds is Rs.82.152.108 1.2012 5.617 ————————— 130.646.03.314.035.241.84.944.110 ————————— 229.234 ————————— 1.923.000 150.428.000. 50.114.000 25.247 ————————— 14.

72) Balance with Government Authorities 718.879.99. 31.513.666 ————————— 1.397 5.586 ————————— 23. REVENUE FROM OPERATIONS Sales of Manufactured Goods Less: Excise Duty Net Sales Industrial Promotion Subsidy under Mega Project Duty drawback received 24.357 — — — — — — — — — 26.168. 1.266 6.000 90.643.121 14.560 7. 18.312.30.255 ————————— 27.988.185.848.315 165.759 ————————— 23.JINDAL POLY FILMS LIMITED NOTES As at 31.723 ————————— 15.009.333.451.2012 Rs.359.586.244.096.083 5.868 ————————— 15.441 2.030. 17.698.690 3.282.439.139 ————————— 16.933.278 799.369.066.703 ———————— 20 COST OF MATERIALS CONSUMED Opening stock Add: Purchases Less: Sales Less/(Add): Cost Benefits (refer note no.194 ————————— 16.390.866.354.196.922 ) 69.603.050 Previous year Rs.561.643.888 4.447 432.299.447 ———————— 96. OTHER CUREENT ASSETS Amount Recievable Under Package Scheme of Incentive Interest Accrued on Deposits Advance Income Tax (Net of Provision for Tax Rs 450.961.868 15.176 1.462.651.552.293.417.951 529. 468. OTHER INCOME Dividend : On Current Investments Non Trade On Long Term Investments Non Trade Profit on sale of current Investment.759 ————————— 19.176.137.03.7) Less:.825 ———————— 74.844 100.046 192.474 ————————— 766.135.262 ————————— 31.671) — — — — — — — — — 29.199.384.033 ———————— 109.Material Used for Trial Run Less: Closing Stock 1.03.552 48.480 1.285.391.713 ————————— 1.2012 Rs.482.314.451 85.577.901 ————————— 998.13.590.2011 Rs.2011 Rs.907 8.643.244.462.03.255 ————————— 27.056 (2.427.778 ———————— 186.078.000 2.536.Non Trade Miscellaneous Receipt Lease Rent Foreign exchange fluctuation (Net) Claims Received Interest Received (Including TDS Rs.030.534.252.173 474.118 (1.966.927 130.803.456 52. As at 31.310 402.961.199.769 123.020 ———————— 94.692 100.239 3.125.703.03.870.248 ————————— 14.619.425.164.882) ————————— 23.509.171.219.354.828 ————————— | 42 | ANNUAL REPORT 2011-2012 .520 ————————— 15.162.803.682.556.929.

317 20.326 6.037 1.289.894 54. EMPLOYEE BENEFITS EXPENSES Salaries. CHANGES IN INVENTORIES OF FINISHED GOODS. Wages .523.064.726 8.847.755.005 81.238.272 556.424 ———————— 459.311.386.565 ———————— 211.780 525.717 5.288.765.935.976 16.576 515.642 6.JINDAL POLY FILMS LIMITED NOTES 31.987 27. 21.2011 Rs.111.03.594.456 2.482 6.444 17.628.916 68.331 32.840 1.350.287 2.737 19.099 1.Bonus & Other Benefits Gratuity Contribution to Provident Fund Staff & Workmen Welfare Expenses Staff Recruitment & Development 267.108. 31.801.198) ———————— 344.390.870.03.067 ———————— (271.458 575.076 (34.053.869 1.303.491.287.306 ———————— 301.509 26.973 451.092 ———————— 241.159 23.137.792 92.424.904.566.522.311.757 ———————— 22.283.361 ———————— 209.113.949.870.973 33.447.754 287.206.178.551.997 ———————— 837.371.975.741 ———————— 24.778 ———————— 23.481.240.612 18.347 43.995 – 26. WORK IN PROGRESS AND STOCK IN TRADE OPENING STOCK (Including Excise Duty) Finished Goods Scrap CLOSING STOCK (Including Excise Duty) Finished Goods Scrap Increase/(Decrease) in excise duty on Stock Accretion/(Decretion) in stock 821.972.044 5.2012 Rs.214 1.946 2.588) ———————— 261.632 3.248 21.106 12.463 5.772 8.929.543.088.293.502.525 ( 22.564 1. OTHER EXPENSES Stores and Spares consumed Power and Fuel Carriage Inwards Water charges Job Work Charges Repairs to Plant & Machinery Repairs to Buildings Repair and Maintenance others Packing Material consumed Rent Rates & Taxes Travelling & Conveyance Charity & Donation Social welfare expenses Postage & Telephone charges Legal & Retainership Charges 283.223 20.371.251) ———————— 821.267 2.997 ——————— 837.293.357 12.558.926 2.353.331 ———————— 204.186.150 520.715.582. INTEREST AND FINANCIAL CHARGES Interest On Term Loans On Bank Borrowings Financial charges Foreign Exchange Fluctuation (Net) 210.905.303.976 16.682.366 ——————— 543.225.463 | 43 | ANNUAL REPORT 2011-2012 .644.125.009.704.715.642.104 101.336.159.018 20.009.036.980.

251 (4.462.538.966.760.619 2.415) d) 5.779 123.965.096) e) Nil Nil Nil Nil | 44 | ANNUAL REPORT 2011-2012 .03.284) (21.835.2011 Rs.739 (365.11 Rs.603 2.635 30.803.919.000 1.865.362.084.248 (14.745.590.275 – 4.500 411.050.997 (32) (9.380 ———————— 25.311.724.278.889.112.776 15.282 (6.726 ———————— 3.181) 1.824 (174.838.159.122 (61) (112.213 9. Raw Material Stores & spares 22 12.392.773.000 58.234.422.381.136 (187.057.566) 195.293) % INDIGENEOUS Value (Rs.488.JINDAL POLY FILMS LIMITED 31.946 (287.061.029. a) Details of regarding imported and indigeneous material consumed PARTICULARS IMPORTED Value (Rs.995 5.405.033 12.03.12 Rs.994.235) (209.037) 31.440.407.031.744) 3.767 178.409.262) 69 87.384 ———————— 8.738.030.296 – 72.864 3.2012 Rs.611.841.500 2.034 15.038 32.764.03. b) Details of imports calculated on CIF basis Raw Material Stores & spares Capital Goods Details of Expenditure in Foreign Currency Foreign Travelling Interest Commission Others Earning in Foreign Currency FOB Value of Exports Dividend Paid to Non resident Share holder in Foreign Currency (i) Number of share holders (ii) Dividend remitted % 100 (100) 100 (100) 31.500 627.127.589.904.628 ———————— 3.813.834.) 3.470 135.907.108) (17.519.230 33. Vehicle upkeep & Maintenance Water & Electricity Charges Insurance Auditors’ Remuneration Printing & Stationery Licence.414.592 14.179.781.363.862 22.719.102.465. Cartage & Octroi Commission Other Selling expenses Bank Charges Foreign Exchange Fluctuation(Net) Loss on sale of Fixed Assets 5.658 5.828) 283.039.) % 78 (68) 31 (39) TOTAL Value (Rs.03.681) c) 4.951.423) 274.000 1.557.477 31.249.000 94.766.543.615 11.572.522.695.429 17. Inspection and Testing Fees Miscellaneous expenses Miscellaneous balances written off Commission & Brokerage on shares Directors Meeting Fees Freight.168.628.) 15.153 (4.208 218.331 (7.382.163.241 1. 31.

Inter Segment revenue Total revenue Segment profit before interest & tax and after exceptional item a) PET/OPP Film Division b) Other Revenue Total Less:.557.172.72 5.212 2.2011 Rs.500 1.704 Maximum amount outstanding during the year (Rs.355 1.015 67.024 55.068 Previous Year 42.624 —————— PRIMARY SEGMENT Segment revenue a) b) PET/OPP Film Division Other Revenue Total Less:.184 30./Lacs 31st March.JINDAL POLY FILMS LIMITED NOTES 31.896 —————— 31st March.433 —————— 274.303 —————— 18.608 6.276 128. DISCLOSURE UNDER CLAUSE 32 Loans & advances outstanding at the year end and maximum amount outstanding during the year. of Equity shares outstanding Basic earning per share in Rupees Profit after Tax Weighted average no.863 —————— 20.) Current Year 77. iii) Corporate income and expenses are considered as part of unallocable income and expense. which are required to be disclosed Under clause 32 of the listing agreement are as under:Particulars Name Amount out standing at the year end (Rs.370. ii) Secondary Segment Geographical Segment : The analysis of geographical segment is based on the geographical location of the customers.354 61.713 —————— 86.191 74.260 45.440 —————— The company has common fixed assets for producing goods for domestic and overseas markets.542 —————— 260.165 —————— 236.251 6.35 27.72 26.348 —————— 230.042. of Equity shares outstanding Diluted earning per share in Rupees 1.873 46. which are not identifiable to any business segment.35 1.926.499 —————— 175.614 —————— 17.605 —————— 199.03.926. 2012 ———————— 322.184 30. Hence. 5.655.SEGMENT REPORTING i) Primary Segment Business Segment : The Company’s operating business are organised and managed separately according to the nature of products.829.655.260 45.795.704 28.575 —————— 297.03. EARNING PER SHARE Profit after Tax Weighted average no.370.795.764 —————— 365.557.873 46. | 45 | ANNUAL REPORT 2011-2012 .Unallocable Expenditure Profit before tax Capital Employed a) PET/OPP Film Division b) Others Total SECONDARY SEGMENT Sales in Domestic market Sales in Overseas market 175.219 2.) Current Year a) Loan to Subsidiaries b) Loan to Associates Jindal France SAS Jindal France SAS 77. 31. separate figures for capital employed can not be furnished.275 61.172.276 128.863 —————— 324.604 —————— 89.068 Previous Year 42.363 86. 2011 ———————— 358.440 —————— 82.060 —————— 238. Rs.042.372 —————— 200.Interest Less:.2012 Rs.829.

03.2012) | 46 | ANNUAL REPORT 2011-2012 .03. Limited 10 Anchor Image & Films Pvt.f. 1 2 3 4 5 6 7 8 9 Companies Soyuz Trading Company Limited Rishi Trading Company Limited Consolidated Photo and Finvest Limited Jindal Photo Investment Limited Consolidated Finvest and Holding Limited Jindal Photo Limited Jasmin Investment Limited Consolidated Finvest and Investment Limited Passion Tea Pvt. 1 Subsidiary Companies Hindustan Thermal Power Generation Limited (Formerly Hindustan Polysters Ltd.2012) (Formerly Known as Jindal France SAS) b.e.e.2011) 11 Rexor Holding SAS (Up to 28.03.e.2011) 10 Jindal Poly Finance Limited (w.f 29.f 13.05.2012) (Formerly Known as Jindal France SAS) 12 Rexor SAS ( Up to 28.15.JINDAL POLY FILMS LIMITED 29 RELATED PARTY DISCLOSURE A) As required by Accounting Standard-18 “Related party disclosure” issued by the Institute of Chartered Accountants of India are as follows:List of Related parties a. Limited 11 Jindal India Limited 12 Universal Foils Limited c. 1 2 Associates Jindal India Powertech Limited Rexor Holding SAS (W.08.) 2 3 4 5 6 7 8 9 Jindal Solar Rajasthan Limited Jindal Solar Powertech Limited Jindal Poly Films Investment Limited Jindal Metal & Mining Limited Haldia Synthetic Rubber Ltd Jindal Resources (Mozambique) Lda Trans Indian Mining Lda Jindal Metal & Mining International Limited (w.

426 Refered to in -(c) 31.000 248.148 72.03.704 31.11 Refered to in.12 b(6 & 11) b(6) & c(12) b(1) b(1 & 6) c(11) d(1. Hemant Sharma B) The following transactions were carried out with related parties in the ordinary course business: Sr Nature of 31.093 43. R.307 11.03.536 Refered to in -(d) 31.698.068 4.389.522 31.12 31.5.03.000.12 7.555.467.507 17.655.12 41.03.526.255.653.1. 1 2 3 Key Management personnels Sh.627.7 & 11) 31.JINDAL POLY FILMS LIMITED d.12 1.B.4.6 & 11) | 47 | ANNUAL REPORT 2011-2012 .(a) 31.743 31.900 510.143.5&10) a(1) & c(4.03.Loans recoverable .993.240.3) b(8) c(1. Samir Banerjee Sh.829.591.000.Advances recoverable .000.481 a(2) & b(6) c(1 & 5) a(2) & b(6) c(1.956 1.03.000 14.113 1.03.924 1.000.950.6 & 7) 77.838 4. 6.947 - 229.508 18.500 419.5.942.2.03.680 247. Pal Sh.527.757 b(6) b(6) & b(12) b(6 & 11) b (1.11 b(6 & 11) b(6) b(1) b(1 & 6) c(11) d(1.03.454.Sundry Creditors .11 2.Sundry Debtors .762.11 - No Transactions (From) 1 2 3 4 5 6 7 8 9 Purchase of Goods Sale of Goods Professional Service Expenses reimbursed Interest earned Remuneration Shares Sold Shares Subscribed by the company Balance Outstanding .999.000 6.03.2) Refered to in.000 229.758 5.11 93.971.866.(b) 31.068 42.815 45.408 219.921.

448.297 2.50% 9.000 128.586.347 181.784 c) d) 8.994 – 140.097 61.916 2.830.03.714.424.459 58.2 Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) Contingent Liabilities: a.668 – 22.128.981 61.897.11 Rs.50% | 48 | ANNUAL REPORT 2011-2012 .060 1.493. Bank Guarantees Outstanding Letters of Credit (Including Capital Goods) Claims against Company.00% 9.068.Gratuity Scheme a) Liabilities Recognised at the Balance sheet date: Present Value of obligation as at the beginning of the period Interest Cost Current Service Cost Benefits Paid Actuarial (gain)/loss on obligation Present Value of Obligation as at the end of period (31.023 2.2012) Fair Value of assets as on Balance Sheet date Fair value of plan assets at the beginning of the period Actual Return of plan assets Contribution during the year Benefits paid Actuarial (gain)/loss on obligation Fair value of plan assets at the end of the period Net Assets/(Liability) recognized in the Balance Sheet as provision Principal Actuarial Assumptions Rate of Discounting Expected rate of Return on Plan Assets Rate of increase in salary 26.500 — — — — — — — 1.03.226.3 Remuneration to Auditors’ comprises: Audit Fee Tax Audit Fees In Other Capacities. e.287.000. d.000 100.465.000 10.430 33.520 10.507 1.25% 6.25% 5.000 365.000 — — — — — — — 58. not acknowledged as debts Uncalled liability of partly paid shares Demands raised by authorities against which.00% 8.768.366.182.092 3.4 Employee Benefit Define Plan.297 912.599 1. 770.000.438 21.308.917.000 800.520 27. 30.732 2.989 5.308.659) 31.561.349 1.719.907.221 31.000 — — — — — — — 1. 30.225) 26.585 22.917.714. 30.289 – 141.00.848 4.000 1007.158. b.268.366.12 Rs.668 53.535.500 — — — — — — — 30. 30 31.155.481.830.000 1.665.829.401.513 2.290.595 – (3.211 16.000 100.1.308. c.03.291 – (681.JINDAL POLY FILMS LIMITED NOTES ON ACCOUNTS NOTE NO.132.276.878.128.435. Company has filed appeals:i) Income Tax ii) Excise Duties/Service Tax iii) Sales Tax (iv) Custom Duties 159.513 b) 27.284 1.

349 (previous year Rs.369 — — — — — — — b) 30. (c) During the year the company has made a provision of Rs 102. thus total amount of loss for Rs.12.384. 28.00.082.456.594) has been transferred to Repair and Maintenance from Capital Work in progress.932) has been credited in the account of raw material.21.254.451.000/-. Under the Package Scheme of Incentive approved by the Government of Maharashtra.592 — — — — — — — 3.565. | 49 | ANNUAL REPORT 2011-2012 .24 Lacs for permanent diminiution of its investment in Jindal Resources Muzambique Lda. which was charged to profit and loss account in the previous year on account of advance paid to vendor. Gain on account of hedging against export exposures amounting to Rs Nil.556. Non – Current Investment includes the following:(a) 600 shares of Hindustan Thermal Power Generation Ltd. 28.10 30.8 30.899.330.933. 114. (a subsidiary Company) which has been shown as exceptional item. the Company has disinvested 60% of its total shareholding in Jindal France SAS (wholly owned subsidiary).1245.586). Nil (Previous year Rs 48.3.171 (Previous Year Rs. (c) 6 shares of Jindal Poly films Investments Ltd. 30. 30. 432. Export Incentive under Duty Entitlement Pass Book Scheme (DEPB) amount to Rs. (e) 6 shares of Jindal Poly Finance Ltd of which the Company is beneficial owner are held by certain individuals in fiduciary capacity. imported raw material prices prevailing at the year ended on 31st March 2012 on account of advance licences excess utilized for which exports are yet to be made. (b) 6 shares of Jindal Metal & Mining Ltd. Loss of Rs 4763.456.3121.480 – 2.162.082. (Formerly Hindustan Polyester Ltd.7 A sum of Rs. (b) Pursuant to the adoption of Accounting Standards as prescribed by Companies (Accounting Standards) Rules. 174. During the year.02 lacs on account of diminution in value of investment.11 Certain old balances of sundry debtors and sundry creditors are subject to reconciliation and confirmation.197.93 lacs (previous year gain of Rs 612. (previous year Rs.G.254.278 956. whichever is lower. 2011 and as required by Accounting Standard 11 – I. the Company is entitled to industrial promotion subsidy to the extent of 100% of the fixed capital investment or the extent of taxes paid to the State Government within a period of 7 years.6 During the year an amount of Rs. which has been shown as exceptional item. details are as under: Raw Material (Trial Run) Salary Power & Fuel 192.) of which the Company is beneficial owner are held by certain individuals in fiduciary capacity. (previous year Rs.115. II. 30.2006 issued by Ministry of Corporate Affairs vide notification no. of which the Company is beneficial owner are held by certain individuals in fiduciary capacity. 1876.9 Advance receivable in cash or in kind includes Rs. The balance 40% of the holding require a provision of Rs. the Company is entitled for an amount of Rs. the Company has reversed Rs. (e) During the year.330 — — — — — — — 1.560.00 Lacs for the diminution of its investment in Haldia Sythetic Rubber Ltd (a Subsidiary Company)due to the company has not been able to start its business.50 lacs.17 lacs) on translation/settlement of foreign currency monetary items including borrowings have been shown as exceptional items in the profit and loss account.R. of which the Company is beneficial owner are held by certain individuals in fiduciary capacity. (d) 6 shares of Haldia Synthetic Rubber Ltd of which the Company is beneficial owner are held by certain individuals in fiduciary capacity.914 (E) dated 29th December.369) capitalized to respective fixed assets during the year.JINDAL POLY FILMS LIMITED 30.S. (d) During the year the company has made a provision of Rs 5.5 a) Preoperative expenditure amounting to Rs. Exceptional items includes following:a) During the year.171 ) being the amount of custom duty deposited against import of capital goods assessed under provisional assessments in earlier year. on which there is a loss of Rs. 219.460 1.469. (previous year Rs Nil) have been accounted under the head other income/(other expenses) in the profit & loss account. under that scheme and the same has been shown as revenue from operation.889 — — — — — — — 4.44.52 lacs has been shown as exceptional item. has been adjusted in the cost of raw material.474.178 (Previous year Rs.894) being the difference between domestic vs.

JINDAL POLY FILMS LIMITED 30. The Export obligation undertaken by the company for import of capital equipments under EPCG scheme of the Central government at the concessional rate of custom duty are in the opinion of the management expected to be fulfilled within their respective due dates/extended due dates.68.933) (39.00.44.45.383 28.11.02.2011 on various premises of the company and its directors/promoters and had seized various records of the company .768 31. Till date no notice has been received by the company for initiation of proceedings u/s 153C.83.858 92.175 23.38. relating to amounts unpaid as at the year end together with interest paid/payable as required under the said Act have not been given.7 Called and paid up)of Jindal India Powertech limited (“JIPL”).58.2012 (Ajit Mishra) Company Secretary | 50 | ANNUAL REPORT 2011-2012 .979 1.00.15. the realizable value of current assets.03. The same has been adjusted from Gross Block of the WIP under Fixed Asset.429 equity shares of Rs.979 23.341.75.103 (1. if any arises will be provided as and when the case is finalized.75.383 Nil 33. Search and seizure The Income Tax Department had conducted search and seizure u/s 132 and survey u/s 133A of the Income Tax Act. 30.946) (25.14 In the opinion of the Board and to the best of their knowledge and belief.130.383 33. company has pledged 428.108 1.95.92.75.315 (177.000) Gulaothi 24. KANODIA) Partner M No : 016121 (R.17 30.995) (52. K. if any.000) 30. Previous year’s figures have been regrouped and/or rearranged wherever required. to IFCI Ltd as security for 14 % OCD issued by JIPL subscribed by IFCI Ltd in terms of the Debenture subscription agreement between JIPL ans IFCI Ltd for a sum of Rs.304 22.75. Pal) Whole Time Director DIN:– 00092049 (S. an associate company.000) Khanvel 31. 30.15 30. Banerjee) Whole Time Director. is ascertainable only after completion of the total disposal of Plant & Machinery.15.P. Following is selected financial information included in loss from discontinued operations for the Gulaothi and Khanvel unit:2011-12 Discontinued activities Total Assets Assets Disposed off Net Assets Total Liability Total Revenue Total Expenses Profit/(loss)from Discontinued operation Tax expenses/(Gains) Gulaothi 2. 300 crore.13 30.304 Nil 82. B.154 77.1961 on 14.84 Lacs.18 Discontinued Operation Company has discontinued the operation of Partially Oriented Yarn (POY) facility at Gulaothi.39.664 (2.02.60.Marketing DIN:– 00011754 (L.02.57. the profit / loss.675 22. loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet. 10 each (Rs.01.03.75.62.38.000) 2010-11 Khanvel 33.717 2.44. During the year a part of the Work In Progress Plant & Machinery at Gulaothi & Khanvel Units were disposed off during the year for Rs.02.70.175 12.83.768 Nil 177.933 (82.90 31. if any. 230.21. Small and Medium Enterprises Development Act.02. The Company has not received from suppliers regarding their status under the Micro.39.62. Uttar Pradesh and Pet film facility at Khanvel unit as it has been terminated through abandonment in earlier years as per Accounting Standard -24 issued by ICAI.20 As per Our Report of even date annexed hereto For Kanodia Sanyal & Associates Chartered Accountants (R.315) (10. have been charged to the former accounts wherever separation is not ascertainable. 2006 and hence disclosures.39. Soni) CFO Place: New Delhi Date: 01.76.99.16 30.38.The tax liability.72.09.12 30.86. Stores and spares consumed and salaries and wages incurred during the year for repair and maintenance of plant & machinery and sheds & building.571.19 During the year .17.

2012 JINDAL POLY FILMS LIMITED 3 Holding Company’s Holder of 50. 2012 31st March.35 Lacs 5 Nil Nil Nil Nil Nil Net aggregate amount of the Subsidiary’s profit /(Loss) so far as they concern members of Holding Company and dealt with in the Holding Company’s accounts:Nil Nil Nil Nil 1 For Subsidiary’s Nil Period ended 31st March. 13. 163.Marketing DIN:– 00011754 (L. 2012 Limited 31st March.09. Holder of 50.41 Lacs Loss Rs. subscribed and paid up Equity Share Capital.24 Lacs Loss Rs.02. Nil Nil Nil Nil Nil Nil Nil Nil Nil For Kanodia Sanyal & Associates Chartered Accountants (R.08. Loss Rs.2012 .197.e. Holder of 50.f.14 Lacs Loss Rs. subscribed 72000 Quotes.34 Lacs Loss Rs.34 Lacs Loss Rs.24 Lacs Loss Rs. 105. 2012. 1956 relating to Subsidiary Companies 1 Name of the Subsidiary HINDUSTAN THERMAL POWER GENERATION LTD. 0. 10.000 Equity Shares of 10/-each being the total issued.000 Equity Shares of 10/-each being the total issued. subscribed and paid up Equity Share Capital.47.23 Lacs N. Holder of 50. 2012 Jindal Solar Rajasthan Limited Jindal Solar Powertech Limited Jindal Polyfilms Investment Limited Jindal Metal & Mining Limited Jindal Poly Finance Limited (w.000 Equity Shares of 10/-each being the total issued. 2012 31st March.0. B. 13.2011) 31st March. subscribed 100000 Quotas through Jindal Metal & Mining Ltd 4 Loss Rs. 2012 Jindal Metal & Mining (International) Ltd.A.A.000 Equity Shares of 10/-each being the total issued. 2 For Subsidiary’s Nil previous Financial Year. Soni) CFO (R. 05. 2 For Subsidiary’s previous Financial Year Loss Rs. 0.f. subscribed and paid up Equity Share Capital Holder of 10.3.41 Lacs Loss Rs.99 Lacs Net aggregate amount of the Subsidiary’s profit /(Loss) so far as they concern members of Holding Company and not dealt with in the Holding Company’s accounts :Loss Rs.2012 10/-each being the total issued. Holder of 50. 2012 31st March.43 Lacs Loss Rs. N. 2012 2 Financial Year of the Subsidiary Holder of 50.P.000 Equity Shares of 10/-each being the total issued.79 Lacs Loss Rs. 2.e. K. KANODIA) Partner M No : 016121 | 51 | ANNUAL REPORT 2011-2012 Place: New Delhi Date: 01.2011) 31st March. 31st March.000 Equity Shares of 10/-each being the total issued. 49.79 Lacs 1 For Subsidiary’s Period ended 31st March.000 interest as Equity Shares of on 31. subscribed and paid up Equity Share Capital. 91. Holder of 64.f. 0. 2012.548 Quotas of MZN 1 each out of the total issued.85 Lacs Loss Rs.ef.05. 84. 1. 2012 31st March. subscribed and paid up Equity Share Capital. Holder of 50. subscribed and paid up Equity Share Capital Holder of 50.000 Equity Shares of AED 1000 each the total issued.60 Lacs N.Statement Pursuant to Section 212 of the Companies Act. Pal) Whole Time Director DIN:– 00092049 (Ajit Mishra) Company Secretary (S.2010) Trans Indian Mining Limitada (w. 0.80 Lacs Loss Rs.e.000 Quotas of MZN 1 each out of total issued.35 Lacs Loss Rs. Dubai (w.2011) Haldia Synthetic Rubber Limited Jindal Resources (Mozambique) Limited (w. subscribed and paid up Equity Share Capital. 2. 31st March. 0. 2012 31st March. Banerjee) Whole Time Director.10.A. 0. Loss Rs. 15. subscribed and paid up Equity Share Capital.

706) (10.1).371.000 848.200 15.411.107) 429.896) (242.446.977) J) PROPOSED DIVIDEND Note.352.977) 4061535 23704289 15188180 24162134 (123.000 (104.578) (1.DUBAI 17.JINDAL POLY FILMS LIMITED INFORMATION FOR EACH SUBSIDIARY OF THE CONSOLIDATED BALANCE SHEET AS PER APPROVAL NO.598.598.313.472 - 17.706) (80.974 1.171) (9.236 - 500.000 (1.696 500.833.652.598.954 - 186024 (19.748) - (1.226) 3.490) (9.706) 20.059.159.295) - (10.977) (80.371.154) 395.300 14.330.159.092.281 12.877) - (241.159.295) (241.896) - (16. LIMITADA NATIONAL) LIMITED.510 11.222) - (242.03.500.846 136417 TRANS INDIAN MINING LIMITADA A) CAPITAL B) RESERVES C) TOTAL ASSETS D) TOTAL LIABILITIES E) DETAILS OF INVESTMENTS (Except incase of investment in the subsidiaries) F) TURNOVER G) PROFIT BEFORE TAXATION H) PROVISION FOR TAXATION I) PROFIT AFTER TAXATION 500.2011 issued by Govt of India .000 (241.000 (3.474 309.222) (41.236 865.598 32.037.170 547.578) - (41.482.616 234.313.1956 FOR THE FINANCIAL YEAR ENDED 31.553 500.012) (10.200 - JINDAL JINDAL JINDAL SOLAR SOLAR POLYFILMS RAJASTHAN POWERTECH INVESTMENT LIMITED LIMITED LIMITED JINDAL METAL &MINING LIMITED JINDAL POLY FINANCE LIMITED JINDAL HALDIA JINDAL METAL SYTHETIC RESOURCES &MINING RUBBER MUZAMBIQUE (INTERLTD.659 11.874.157 (10. 5/12/2007-CL-III UNDER SECTION 212(8) OF THE COMPNIES ACT.748) (123.000 (75.820. The financial statements of foreign subsidiaries have been converted in to Indian Rupees at an appropriate exchange rate 2) The above details have been annexed in terms of Circular no 5/12/2007 -CL-III dated 8th February. Ministry of Corporate affairs U/S 212(8) of the companies Act.779.979.129 1.372 2.012) (10.191) 437.2012 PARTICULARS HINDUSTAN THERMAL POWER GENERATION LIMITED 4.595.490) (9.446.295) 270.1956 | 52 | ANNUAL REPORT 2011-2012 .877) (16.

. Jindal Solar Rajasthan Limited. 2012 . The financial statements of Subsidiary Jindal Metal & Mining International Limited. evidence supporting the amounts and disclosures in the financial statements. and our opinion. on a test basis. Jindal Poly Films Investments Limited. and total revenues of Rs.9094.29 lacs for the year ended 31st March 2012. Jindal Solar Powertech Limited. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. Jindal Poly Finance Limited and Jindal Metal & Mining International Limited.K.36 lacs as at 31st March 2012. and consolidated Statement of Profit & Loss Account and the Consolidated Cash Flow Statement. These financial statements have been audited by other auditors whose report has been furnished to us. of the consolidated cash flow of Jindal Poly Films Ltd. We believe that our audit provides a reasonable basis for our opinion. and its subsidiary included in the consolidated financial statements. We report that consolidated financial statements have been prepared by the company in accordance with the requirements of accounting standard (AS 21). the consolidated results of operations of Jindal Poly Films Limited and its subsidiary for the year ended 31st March 2012. Our responsibility is to express an opinion on these financial statements based on our audit. as well as evaluating the overall financial statement presentation. “Consolidated Financial Statements” and investment in an associates company accounted on the equity method in accordance with Accounting Standards (AS 23) (Accounting for Investment in associates in Consolidated Financial Statement) as notified under the Companies (Accounting Standards) Rules. we are of the opinion that the said financial statements give a true and fair view in conformity with the accounting principal generally accepted in India: i) ii) In the case of the consolidated balance sheet.016121 | 53 | ANNUAL REPORT 2011-2012 Place: New Delhi Date: 01st September.JINDAL POLY FILMS LIMITED Consolidated Financial Statement Auditors’ Report on Consolidated Financial Statement To The Board of Directors of Jindal Poly Films Limited We have audited the annexed consolidated Balance Sheet of M/S JINDAL POLY FILMS LIMITED and its subsidiary as at 31st March 2012. We did not audit the financial statement of subsidiaries viz. both annexed there to. We conducted our audit in accordance with the auditing standards generally accepted in India. These financial statements are the responsibility of the Company’s management. An audit also includes assessing the accounting principles used and significant estimates made by the management. iii) In the case of the consolidated Cash Flow Statement. 0. for the year ended on that date. whose financial statement reflects total assets of Rs. for the year ended 31st March 2012 is reflected in Consolidated Financial Statements on the basis of unaudited financial information provided by the Management of the subsidiaries companies. is based solely on the report of the other auditors. the consolidated state of affairs of Jindal Poly Films Limited and its subsidiary as at 31st March 2012. Jindal Metal & Mining Limited. On the basis of information and explanations given to us and on the consideration of the separate audit reports on individual audited financial statements of Jindal Poly Films Limited and its subsidiaries. insofar as it relates to the amounts included in respect of the subsidiaries. In the case of the consolidated Statement of Profit & Loss Account. For KANODIA SANYAL & ASSOCIATES CHARTERED ACCOUNTANTS Firm Registration No. and its subsidiary for the year ended 31st March 2012.008396N (R. An audit includes examining. 2006 and on the basis of the separated financial statements of Jindal Poly Films Ltd.KANODIA) PARTNER Membership No.

301 — — — — — — — — — 13.2011 Rs.451.789.200.03. ASSETS 1) Non Current Assets a) Fixed Assets (i) Tangible assets (ii) Intangible assets (iii) Capital work-in-progress (iv) Intangible assets under development (b) (c) (d) (e) Non-current investments Deferred tax assets (net) Long term loans and advances Other non-current assets 9 12.451.750 460.870.249.494.926.507 4.508.936.484 — — — — — — — — — (962.751. NOTE I.374 164.407 - ————————— — — — — — — — — — 10 11 ————————— 13.118 12.989.462 1.836.666 17.071.130.520 298.234 4.068.422.663.527.566.170.249.149.000 ————————— 4.502.678.175 2.JINDAL POLY FILMS LIMITED Consolidated Financial Statement CONSOLIDATED BALANCE SHEET AS AT 31 st MARCH 2012 Year Ended 31.065 74.412.Marketing DIN:– 00011754 (L.002.730.335. EQUITIES & LIABILITIES 1) Shareholder’s Funds a) Share Capital b) Reserves & surplus c) Minority Interest (2) Non-Current Liabilities (a) Long-term borrowings (b) Deferred tax liabilities (Net) (3) Current Liabilities (a) Short-term borrowings (b) Trade payables (c) Other current liabilities (d) Short-term provisions 1 2 ————————— 430.957.109. Year Ended 31.095.299.153 4.015.342 ————————— ————————— — — — — — — — — — 1.425.623.200 17. Soni) CFO Place: New Delhi Date: 01.015.162.339 1.09.155 258.076 .097.724 16.376 1.046 ————————— ————————— (2) Current Assets (a) Current investments (b) Inventories (c) Trade receivables (d) Cash and cash equivalents (e) Short-term loans and advances (f) Other current assets 12 13 14 15 16 17 ————————— 8.751. Pal) Whole Time Director DIN:– 00092049 (Ajit Mishra) Company Secretary (S.262.691.694.975.425.758.2012 Rs.812.966.760 15.672.218.925 1.294 2.550.226 8.187.068.117.296.999 — — — — — — — — — 3.697 1.537 1.534 1.236.790 ————————— ————————— — — — — — — — — — 26.459.170.864.625.909.580 Signficant Accounting Policies & Notes on Financial Statements As per our report of even date annexed hereto For Kanodia Sanyal & Associates Chartered Accountants (R.2012 | 54 | ANNUAL REPORT 2011-2012 .105 1.887.786 25. K.962.624 4.560.613.039.667.462 2.16.189 3. Banerjee) Whole Time Director.068.396 2.181.425.703.686.710 1. B.330 489.088.109.913 2.091 25.751 235.866.031.550 16.580 II.128.730.269 294.076. KANODIA) Partner M No : 016121 1-28 (R.267.819.091 25.03.172.089 1.694.191.801.241.823.802) 3 4 5 6 7 8 ————————— 2.406 1.P.812.568.387.158.321.898 ————————— ————————— 26.718 540.409 162.870.613.670.872 450.

672.224 218. B.159 29.2012 (Ajit Mishra) Company Secretary | 55 | ANNUAL REPORT 2011-2012 . Tax expense of discounting operations XIV. Pal) Whole Time Director DIN:– 00092049 28.XIII) Add/Less: Share of Profit/(Loss) in Associates XV.349. Less :.549.965.675 129.508.508.382 EXPENSES Cost of materials consumed Changes in inventories of finished goods.973) 575.327.704 28.939.JINDAL POLY FILMS LIMITED Consolidated Financial Statement Consolidated Profit and Loss statement for the year ended 31st March. Profit/(Loss) from discontinuing operations XIII.2012 Rs.572.275 212.527) ————————— ————————— (36. Profit/(Loss) for the period (XI + XIV) XVI.198 301.406.261.Current tax . Total Expenses 20 21 22 23 9 24 15.000 (159.106 ————————— ————————— 23. Profit/(Loss) for the period from continuing operations XII.705.941) (7. Add/(Less) :.799.21 1-28 (S.209.911.054.281.171 (711. Extraordinary Items IX.305.092 261. Revenue from Operations Other Income Total Revenue (I +II) 18 19 ————————— ————————— Year Ended 31.322.154.643.530.284 V.491.088.622. III.217. Soni) CFO Place: New Delhi Date: 01.000) - 8.114.633 (160.414. KANODIA) Partner M No : 016121 (R. Profit/(Loss) from Discontinuing operations (XII .Exceptional Items VII.Marketing DIN:– 00011754 (L.P. Banerjee) Whole Time Director. Earning per equity share: Earning per Share (Basic & Dilluted) Signficant Accounting Policies & Notes on Financial Statements As per our report of even date annexed hereto Schedules referred to above form an integral part of accounts For Kanodia Sanyal & Associates Chartered Accountants (R.000) (28.03.VIII) X.252 14.768.934 8.817.590.012 ————————— ————————— ————————— ————————— ————————— ————————— 21.934 5.073 1.961.644.761.533 2.612.830.783 8.013.173 879.966.977.361.911 (337.449 Year Ended 31.700.705.162.543 ————————— ————————— (25. 23.117.09.210.248 271. Profit after extraordinary items and before tax (VII .732.934 554.000) (20. II.383.371.03.855.510.255 186. Profit before exceptional and extraordinary items and tax VI. Profit before extraordinary items and tax (V .305.488 61.344.2011 Rs.229.894 8.547 4.000 107.099.757.941) 578.100.772 2.88 5.949.430.6 ————————— ————————— 1.371.Provision for Taxation .799.846.912 880.Deferred tax Less Subsidies Paid Less Share of Profit/(Loss) of Minority XI.VI) VIII.831 4.319.248) (5.248) (34.772 1. K.187) ————————— ————————— ————————— ————————— 1.237) 20. 28. 2012 Notes REVENUES I.404.510.596. work-in-progress and Stock-in-Trade Employee benefit expenses Financial costs Depreciation and amortization expenses Other Expenses IV.

P.574.968. 1.443) 162.03.576 235.687 902.872 | 56 | ANNUAL REPORT 2011-2012 .704) 901.888) (34.619.417.613) 34.661.686) (580.693 (2.339 — — — — — — — — — 3.162.907 — — — — — — — — — — — — — — — — — — (818. KANODIA) Partner M No : 016121 Place: New Delhi Date: 01. 2011 (Opening Balance) Cash and Cash equivalents of the Companies ceased to be subsidiaries Cash and Cash equivalents as at period end 31st March.773.148.130) (268.502) (133.559 1.335.020) (74.920 178.140.040) (4.021.508 (528.335) 6. Soni) CFO Year ended 31.072.891.872 (3.255.067 (698.Marketing DIN:– 00011754 (L.978.465 (594.823) (756.162.023 4.048.833. K.722) (625.649.260.171 597.718.603.765.185.778 96.832 907.03.278. Pal) Whole Time Director DIN:– 00092049 (Ajit Mishra) Company Secretary (S.984) — — — — — — — — — — — — — — — — — — (680.686 3.09.406 ————————— ————————— (95.669.973.287 — — — — — — — — — — — — — — — — — — 1.562.477) 446.535.318.927) (6.036.796.955.820 — — — — — — — — — Year ended 31.849.2011 Rs.968.361) (237.2012 Rs.2012 (R. Banerjee) Whole Time Director.114.430.588 (251.849.473.471.817.384 179.815.711 103.507) — — — — — — — — — — — — — — — — — — 296.020 74.619.765.507 9.116.542.978. 8.715.244.979 (17.417.588) 251.249.575.888 ————————— ————————— (2.560 544.446.419 (2.709) (21.722 2. Cash Flow from Investing Activities: Purchase of Fixed Assets Sale of Fixed Assets Purchase of Investments Sale of Investments Preliminary Expenditure Incurred Interest Received Dividend Received Net Cash used in Investment Activities (B) C.976.778.153.589.690.965.573) 20.139) 1.761) 7.244.628 (4.715.369.633.094.386.776) 4.833.980.611.015.907) 21. Cash Flow from Operating activities: Net Profit before tax and extraordinary items Adjustment for: Depreciation (Profit)/Loss on sale of Assets (net) (Profit)/Loss on sale of Investment (net) Provision for diminution in value of Investments Interest Income Dividend Income Exchange Fluctuation on financing activities Interest on Borrowings Miscellaneous Expenditure amortised Operating Profit before Working Capital changes Adjustments for: Inventories Trade receivables Loans & Advances Trade Payables and Other Liabilities Cash Generated from Operations Direct Taxes paid Net Cash from Operating Activities (A) B.603.813 (436.143.640.752) — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — 3.543.361 237.386.633.785) (69.202.801 ————————— ————————— 7.853.024) 235. Cash Flow from Financing Activities: Increase/(Repayment) of Borrowings Shares Buyback Dividend paid Exchange Fluctuation on financing activities Interest Paid Net Cash from Financing Activities (C) Net increase/(decrease ) in Cash and Cash equivalents(A+B+C) Cash and Cash equivalents as at 1st April.249.158 707.239) 14.260.244. 2012 A.404) (1.443.988 (7.241.815.355.475.233 (424. B.184.681.517.540.778) (96. 2012 (Closing Balance) As per our report of even date annexed hereto For Kanodia Sanyal & Associates Chartered Accountants (R.840) (666.811) 7.952 (2.877.643 (1.078) (265.266) 2.JINDAL POLY FILMS LIMITED Consolidated Financial Statement CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 ST MARCH.

liabilities. ** Subsidiary of Jindal Metal & Mining Limited.55% Holding share in power/ mining company * These Companies are subsidiary of Hindustan Thermal Power Generation Ltd and Jindal Polyfilms Ltd is ultimate holding Company. 38850 Paladru. Minority Interest’s share being profit/(loss) for the year is identified and adjusted against the income in the Profit & Loss account in order to arrive at the net income attributable to the shareholders of the Company.JINDAL POLY FILMS LIMITED Consolidated Financial Statement SIGNIFICANT ACCOUNTING POLICIES TO THE CONSOLIDATED BALANCE SHEET AND PROFIT & LOSS ACCOUNT 1) Principles of consolidation i.) Jindal Solar Rajasthan Limited 100% 100% 100% 100% 100% 100% Generation. which are prepared for consolidation in accordance with the requirement of AS. The consolidated financial statements are based. Management Company Coal Mining Investment Jindal Metal & Mining Limited 6** Jindal Metal & Mining (Intl) Limited Dubai 100% Coal Mining Jindal Polyfilms Investment Limited Associates : Jindal France S. Trans Indian Mining Lda. Name of Companies Country of Percentage Incorporation of Voting Power India India India India India India 100% 100% 100% 100% 100% 100% 100% Percentage of ownership Main Activity of the Subsidiary ii. vii.21.S. France. viii. 48. v. Generation. transmission of Power. vi. Same have been prepared using uniform accounting policies for like transactions and other events in similar circumstances and are presented in the same manner as the company’s separate financial statements.71% 44. 1 ————————————————————————————————————————————————————————————————— Subsidiaries Hindustan Thermal Power Generation Ltd. France 40% 40% Management Company ————————————————————————————————————————————————————————————————— Consolidated Green Finvest Pvt. The audited Financial Statements of the Subsidiary companies have been consolidated on a line-by-line basis by adding together the book values of like items of assets. resulting in unrealized profits or losses. incomes and expenses. Accounting for Investments in Associates in Consolidated Financial Statements issued by ICAI.71% Investment 10 Jindal India Powertech Ltd. Minority Interest’s share of net assets of consolidated subsidiaries is identified and presented in the consolidated balance sheet separate from liabilities and the equity of the company’s shareholders. The company has applied AS-23. Ltd. but in which it holds directly or indirectly (through subsidiary) 20% or more voting power 2. transmission of Power. The consolidated financial statements relates to Jindal Poly Films Limited. iv. India India 44. Plot No-12. Goodwill/Capital reserve arising on investments in Associate Companies is retained under the head “Goodwill/Investments in Associate Company” and is disclosed separately.71% 65.Delhi. Haldia Synthetic Rubber Ltd and Jindal Resources Mozambique Lda has not been consolidated due to temporary in nature as specified in AS-21 issued by ICAI. Sector B1LSC Vasant Kunj . transmission of Power. Plot No-12. | 57 | ANNUAL REPORT 2011-2012 . 2* 3* 4 5 7 8 9 ————————————————————————————————————————————————————————————————— Jindal Solar Powertech Limited Jindal Poly Finance Ltd ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— Generation. 2012.. The details of Subsidiaries & Associate companies whose financial statements are consolidated are as under: S. after fully eliminating intra group balances/transactions. Investment in Associate Companies has been accounted for under the equity method as per Accounting Standard 23 ‘Accounting for Investments in Associates in Consolidated Financial Statements’ issued by the ICAI.Delhi. iii. No. in so far they relate to audited/Unaudited accounts included in respect of subsidiaries (audited by their auditors) for the period from 1st April.2011 to 31st March.La Feydeliere.A. its Subsidiaries and Associate Companies as at 31st March. In accordance with the disclosure requirement of AS-23 relating to associate company are given below :The company recognizes the investee entity as associate which is not considered as subsidiary. (Formerly HindustanPolyesters Ltd. Other significant accounting policies are set out under “Significant Accounting Policies “as given in the Unconsolidated Financial Statements of Jindal Poly Films Limited and its subsidiaries. ix.Sector B1LSC Vasant Kunj . 2012.

000 (105.760 Notes on Share capital :31.204.422.042.000 460.000. of Shares % No.218. 497.020.000.138 46.855 (46. 77A of he Companies act.000.050.000.2012 Rs.10/.021.050.050.03.000.000 430.148.000.000.276 — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — 2 Details of each shareholder holding more than 5 percent shares specifying the number of shares held.000. 4 The Company has bought back following equity shares during last five years: Financial Year No. The Capital redemption reserve has been credited out of general reserve for Rs 30.292 and Rs.65 9. 1956.050. 30. of Shares 46.000) Equity Shares of Rs.A total of 3.each 1.each 100. Name of Shareholder No. of Shares 2008-2009 2271735 2009-2010 2803007 2011-2012 3020421 5 Buyback -I Pursuant to the approval of the Board of Directors of the Company.03.000 — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — 2.760 ISSUED.944.03. | 58 | ANNUAL REPORT 2011-2012 .855 No.11 1 Recoinciliation of Shares outstanding at the beginning and at the closing of the reporting period: Particulars Opening Balance Add: Issue by way of bonus shares Less: Buyback of equity shares Closing Balance No.10/.000. 10/. of Shares 23.77 3 23.000 (100.000.000 1.204. 1956 less then 10% of Paid up capital and free reserve. of Shares Jindal Photo Investments Limited 11450302 26.421 equity shares buyback and extinguished during the year ended 31st March 2012 through open market for an aggregate amount of Rs.138 23.2011 Rs.021.54 11348266 Rishi Trading Company Limited 4999056 11.000) Preference Shares of Rs.JINDAL POLY FILMS LIMITED Consolidated Financial Statement NOTES As at 31.020. SUBSCRIBED & PAID UP 43.042.218. As at 31.62 4499056 % 24.000 1.502 by utilizing the security premium and general reserve to the extent of Rs.138 Equity Shares were issued as Bonus Shares by way of utilisation of Capital Redemption Reserves during the last financial year 2010-11 in the ratio of 1:1. for buyback of equity shares U/s 77A of the Companies Act. 528.422.000 1.276) Equity Shares of Rs.021. during the financial year 2011-12 Company has bought back 3.000.021.62 11450302 Soyuz Trading Company Limited 11848266 27. 1 SHARE CAPITAL AUTHORISED 105.550 2.000.550 430.210 respectively.421 equity shares and extinguished the same.421 43.021.210 being the nominal value of the share bought back U/s.12 31.276 3.03.042.each — — — — — — — — — — — — — — — — — — — — — — — — — — — — 460.87 24.020.

339) ——— — — — — — — — — 3.2012 Rs.000 — — — — — — — — — 7.057 60.000 422.853.892 3.349 1.200 7.203.000.691.200 — — — — — — — — — 2.000 422..724 3 LONG TERM BORROWINGS SECURED LOANS FROM BANKS Foreign Currency Loans 2.000 ——— — — — — — — — — 8. 2 RESERVES & SURPLUS CAPITAL RESERVE As per last Balance sheet CAPITAL REDEMPTION RESERVE As per last Balance sheet Less: Capitalised by issue of Bonus Shares Add: Transferred from General Reserve SECURITIES PREMIUM RESERVE As per last Balance sheet Less: premium on equity shares bought back EXPORT PROFIT RESERVE As per last Balance sheet AMALGAMATION RESERVE As per last Balance sheet GENERAL RESERVE As per last Balance sheet Less: Provisions for Retired Severence pay till 31.784 2.049.128.210 1.584.JINDAL POLY FILMS LIMITED Consolidated Financial Statement NOTES As at 31.528.159 105.187.376 2.407.142.973 4.017.03.464.554.538.349.976 (209.690 18.788 316.832.000 1.832.283 17.538.730.675 115.462 3.936.596.Equity Shares .869.636 30.119. The above foreign currency loans are repayable on yearly/half yearly basis and the last repayment is due in September.204.000.105.03. 2017.111.140.017.462 — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — 3.090.342.040 30.530. As at 31.673.000 — — — — — — — — — 3.000 ——— — — — — — — — — 1.2011 Rs.187.730.986.890 5.111.022.566.211.090.128.376 Notes on Secured Loans : Term loans from banks are secured by first pari-pasu equitable mortgage of immovable properties of the company situated at Gulaothi (U.2011 Add : Related to Companies ceased to be subsidiary Less: Transfer to Capital Redemption Reserve Add : Transfer from Profit & Loss account FOREIGN CURRENCY TRANSLATION RESERVE PROFIT & LOSS ACCOUNT Balance as per previous year Add: Profit for the year as per Profit & Loss Statement Less: Proposed Dividend .869.917.780.000.362 13.000.936.881 ————————— 16.801. | 59 | ANNUAL REPORT 2011-2012 . Foreign currency term loans from AKA Ausfuhrkredit-Gesellschaft mbh Germany and Commerzbank Germany are guaranteed by HERMES Kreditversicherungs-Aktiengesellschaft Germany.528.633 805. & Nasik (Maharastra) and hypothecation of all movable assets (save and except book debts) subject to prior charge of the banks for working capital requirements.881 1.349 497.362 24.021 8.380) 2.P).944.121 — — — — — — — — — 500.780.03.210 500.204.372.780.554.949.636 5.292 2.000 5.040 ——— — — — — — — — — 2.250 — — — — — — — — — 1.000.052.420 (230.Tax on Proposed Dividend Less: Subsidies Paid Less/(Add): Profits/(Loss) of the Companies ceased to be subsidiaries Less: Transfer to General Reserve 1.349 60.998 24.917.282.566.229.751.989.147.102.200 15.579.528.000.

654.872.175 | 60 | ANNUAL REPORT 2011-2012 .625.142.625.952.537 The Net Defered Tax Liability recognised in the Profit & Loss Account as recommended under Accounting Standard (AS)-22 on “Deferred Taxation” issued by The Institute of Chartered Accountants of India is as under Changes During the Year Rs .2012 Rs.784.2011 Rs.105 1.048.697 Notes on Secured Loans : Secured Working Capital Loans from banks are secured by way of hypothecation of all stocks of raw materials.03.321. but allowances thereof deferred under income tax Net Defered Tax Liability As at 31.076.052. As at 01.03. 1. 31.000 1. 31.537 ———————— ———————— 1.03. 5.931 ———————— ———————— 109.463.414.537 ———————— ———————— 1.335.735.537 (125.000.095.03.687) (159.589 — — — — — — — — — — — — — — — — — — ———————— ———————— 1.784.000) (218.148) 1.095. SHORT TERM BORROWINGS A) LOANS REPAYABLE ON DEMAND I) FROM BANKS .UNSECURED WORKING CAPITAL LOAN 646.12 Rs.182 1.229 1. 1.000) 1.665. goods in transit.922.421.504.505.877.03.600.843.784.04.923 180.957.004.590.735.4669. As at 31.735.11 Rs.468 — — — — — — — — — — — — — — — — — — 1.789.158.321.586 928.34 lacs. stores and spares and book debts of the company.372 (93.117.109.03. TRADE PAYABLES For Capital Goods For Others 65. Previous year Rs Nil) .784.735. 6.685 (33.537 119.780 1. Deferred Tax Liability being tax impact thereon Diffrence between written down value of block of assets as per Income tax laws and written down value of the fixed assets as per books of accounts Deferred Tax Assets being tax impact there on Expenses charged in the books.JINDAL POLY FILMS LIMITED Consolidated Financial Statement NOTES 4. semi finished goods.537 1.03.625.537 31. DEFERRED TAX LIABILITY DEFERRED TAX DEFERRED TAX LIABILITY Opening Balance Addition during the year As at 31.SECURED WORKING CAPITAL LOAN (Includes bill discounting of Rs.321. These are further secured by way of second paripasu charge on immovable properties of the company situated at Gulaothi (U P) & Nasik (Maharastra).710 1.835) 1.313) 1.537 (159.908.2011 Rs. 31.2011 Rs.414.2012 Rs.735.2012 Rs.830. finished goods.

149.923 816.234 13.288 60.578.003 12.2011 142.838.495 1.755.859 32.207.326.946 1.064.417.396 1.747 17.28750373/-) | 61 | ANNUAL REPORT 2011-2012 .864.051 54.03.905 43.003 2.902 3.673.03.502.110.197.016.105.478.744.336.2012 25.306.804 (1.623.451.907 2.546.192 12.869 7.103 20.2011 26.663.772 including tax deducted at source) 41.920 * This figure includes the depreciation related to discontinued operation amounting to Rs.755.374 — — — — — — — — — 2.822 8.519.04.432.828.992 DEPRECIATION FOR THE SALE/ YEAR* ADJUSTMENT CEASED TO BE SUBSIDIARY (25.857 20.961.610 540.776 7.852.557.451.151.738 1.602.130 — — — — — — — — — — — — — — — — — — 1.029.070 — — — — — — — — — 271.374.175.781.296.710 25.136 3.746.894.535 405.119.345) (1.04.437.720.417.936 27.186.907) (344.978 24.002.066 2.618.226.166.271.462.007.314 4.252.248 902.976.557.52.739 6.04.003 15.057.758 41.665 *90.87.869.715.869 8.578.340) (757.644.928.413.302.972 101.985 489.893.249. 853.883 67.995.330 AS AT 01.516.296.903 23.441 22.216 16.969 (3.152 58.481) (435.163 (15.755 6.481 115.526.684 168.330 AS AT 31.961.747 17.096 1.573.127 27.JINDAL POLY FILMS LIMITED Consolidated Financial Statement NOTES As at 31.601 12.899.613 1.118 21.021 — — — — — — — — — — — — — — — — — — - 100.426.210.290.183.956.951 16.626 21.430.790.992) TOTAL 31.568.264.277) (23.064.198.2012 NET BLOCK AS AT 31.407 21.513.033.534 741.090.870.232.632 7.03.529 20.325.969.961.999 74.695.407 10.754.914.009.258) (435.651 235.939.516.153 298.322.502.263. FIXED ASSETS GROSS BLOCK PARTICULARS AS AT 01.007.466 - 12.503.03.172.066 1.672 1.613.105.007.680.715.065 16.963.014.969.165) (1.419 46.451.957 Previous year Rs.466 46.991) (60.118 172.315 164.138 215.096.734 2.2012 Rs.244 727.477 9.353) (208.907 8.109.976 — — — — — — — — — — — — — — — — — — 64.443.295.318.677.792.676) 54.193.896) 1.589 215.564.847 32.882.429.610 17.064.121 22.007.755.322.985 10.864.168.067.530.391.099.163.564.471 13.568.003 - 54.000 34.743.977.241.211.507 9.303.114.520 8 SHORT TERM PROVISIONS Provision of Excise Duty on Finished Goods Proposed dividend on equity shares Tax on Proposed dividend Provision for Taxation (Net of Advance Tax Rs 440.894 32.992.516.630.480 25.450 540.672.2011 Rs.690 18.687.028.494 18.015.451.720 ADDITIONS SALE/ ADJUSTMENT CEASED TO BE SUBSIDIARY (26.766 17.691.038.663 1.602.654 15.03.349 233.991 74.086 7 OTHER CURRENT LIABILITIES Current maturities of Long Term Debts Interest on Loans accrued but not due Amount received in Advance from customers Unpaid Dividends Staff Security Payables Other Payables Duties & Taxes Staff Payables Advance Licence Due 136.507.578.217.241.784 17.753.715 907.482.665 - 68.236.853 6.(previous year Rs.312 3.2011 25.165) - 552.550 3.011 1.052.116 12.942 203.21587192/.867.050.919.11.283 17.261.251 17.827.270 573.177 9.673.720 Intangible Assets Goodwill on Consolidation Tangible Assets Land ( Freehold) Land ( Leasehold) Factory Buildings Other Buildings Plant & Machinery Furniture & Fixture Office Equipments Computers Vehicles TOTAL Capital work in Progress GRAND TOTAL PREVIOUS YEAR 10.141.640.24.665 54.688.512.659 39.2012 25.097.037 43.537.554.095.121.236.516 20.244) (243.469.462) (836.166.755.023 - 196.715.163.168.818 50.302.894 As at 31.43.897 489.486) (188.153.904.889.885 69.785 13.895 105.465) (25.971 11.402 1.654 9.441) TOTAL 31. 708.641 (1.527.849.483.950.835.064.345) (212.03.023 7.637 75.516.662.220) 1.

200 - — — — — — — — — — — — — — — — — — — — — — — — 167.023 658.727.067.246 — — — — — — — — — — — — — — — — — — — — — — — — 8.7 paid up) Original Cost (including Goodwill of Rs.002.858 — — — — — — — — — — — — — — — — — — — — — — 8.450 12.49.215) - Jindal France SAS EURO 1 Less: Provision for Dimunition in value of Investments Add/(Less): Profit/(Loss) from Associates for the year 2.47.367.850 4.500 11. As at 31.297 3.22.000.727.000.759 – 11 10 436.589.000 3.120.2011 Rs. 7 paid up.847 2.011 — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — 3.411 TOTAL Aggregate value of quoted Investments Aggregate value of unquoted Investments Market Value of Quoted Investments 4.437 996.000 – – 82.042.472.012.2012 As at 31.359.03.2011 As at 31.47. 10 1 10 5 10 10 300 100 100 500 441.402) (66.847 3. last year Rs.094. NON CURRENT INVESTMENTS In Equity Instruments (Long Term) (I) Non Trade (i) Equity Shares(Quoted) Phil Corporation Ltd.067.246 300 100 100 500 441.450 12.177 previous year Rs.000 11 121 121 436.109.858 (ii) Non Trade.411 | 62 | ANNUAL REPORT 2011-2012 .153) Add/(Less): Profit/(Loss) from Associates in the beginning of the year Add/(Less): Profit/(Loss) from Associates for the year Consolidated Green Finvest Private Limited Original Cost (including Goodwill of Rs.Equity Shares (Unquoted) Equity shares Trans Indian Mining LDA Share Application Money pending allotment of Quotas in Trans Indian Mining Lda (iii) Equity shares warrant Garware Polyester Ltd.891.858 411.750 496.785 30. 10.042.749 10 1.858 248. (iv) In Associates Jindal India Powertech Limited (Rs.126) Add/(Less): Profit/(Loss) from Associates in the beginning of the year Add/(Less): Profit/(Loss) from Associates for the year – MZN 1 51.226. Coal India Ltd Consolidated Finvest & Holdings Ltd.80.155 3. India Foils Ltd. Garware Polyester Ltd.678.120.070.444.472.625.951 22.596 138.200.269 138.431.002.850 4.472. As at 31.785 30.03.375 108.864.874 (66.898 138.JINDAL POLY FILMS LIMITED Consolidated Financial Statement NOTES NUMBEROFSHARES FACE VALUE Rs.215) – (362.297 3.472.500 11.271) (1.367.035 — — — — — — — — — — — (32.970.03.747) 852.309.375 108.186.2012 Rs.540.03.093 1.540.132.701.093 1.898 138.970.784 — — — — — — — — — — — — 1.378) 3.186.153 previous year Rs. Ester Industries Ltd.391.970.391.825 (82.

994.000.024 lacs)) | 63 | ANNUAL REPORT 2011-2012 .03.16135.537.000 10.000.000.207 24. – – 279.142.000.000 200.002.076.920 50.000.462 As as 31.03. Dividend Reinvestment Weekly (II) Birla Sun Life Fixed Term Paln Series Dl Growth (III) Birla Sunlife Short term FMP series 11 Dividend Reinvestment Weekly (IV) Birla Sunlife Floating Rate Fund Short Term Daily Dividend Option (V) Fidelity Short Term Income Fund Dividend Daily Dividend Option (VI) Fidelity Short Term Income Fund Dividend Growth (VII) ICICI Prudential Blended Plan B Daily Dividend Option I Daily Dividend Option (VIII) ICICI Prudential Banking & PSU Debt Fund Daily Dividend Option (IX) ICICI Prudentail FMP Series One Year Plan (X) HDFC Cash Management Fund Daily Dividend (XI) KOTAK FMP Series 56 (XII) KOTAK FMP Series 57 (XIII) Reliance Quarterly Interval Fund Series II Inst Dividend Daily Dividend Option (XIV) Reliance Fixed Horizen Fund XX Series 21 Growth Plan (XV) SBI Debt Fund Series 367 Days 2 Growth (XVI) Tata Floater Fund Dividend Reinvestment Weekly (XVII) TATA Fixed Maturity Plan Series 36 Scheme C (XVIII) TATA Fixed Maturity Plan Series 36 Scheme B (XIX) TATA Fixed Maturity Plan Series 36 Scheme C 36 Scheme C (XX) UTI Floating Rate Fund STP Daily Dividend Plan (XXI) UTI Fixed income Interval Fund Annual Interval Plan TOTAL 341.000 – – – 52.068.000.170.000.071.939 6.300 255.000.880 150.000 – – – 4.660 150.166 – 200. 21821.JINDAL POLY FILMS LIMITED Consolidated Financial Statement NOTES 11.393.000.000 10.588.215 150.2011 As at 31. As at 31.000 — — — — — — — — — — — — — — — — — — Biral Sunlife Saving Fund Inst.375.530.728 – – 25.451 14.272 – 36.025.000 100.907. (I) CURRENT INVESTMENTS In Mutual Funds (Short Term) 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 1000 10 – 20.222 203.03.019 144.000.462 — — — — — — — — — — — — — — — — — — (Net Asset Value of investment in Mutual Funds is Rs.000 2.16 – – 250.985. 12.000 15.03.412 19.012 14.000 – 25.235.000 200.000 20.000 – 10.000.502.984.187 33.913 NUMBER OF UNITS FACE VALUE Rs.809.2011 Rs.000.302.000.000 10.076 — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — 258.703.973 200.766 15.014.000 100.720 – 369.294 1.804.03.44 lacs (Previous Year Rs.932 150.2012 Rs.2011 Rs.692 5.000.366.010.032.443 61. LONG TERM LOANS AND ADVANCES (Unsecured -considered Good) Loans and advances to related parties Loans and advances to Others Capital Advances Security Deposits As at 31.823.807.000.2012 Rs.820.000. As at 31.000 100.000 – 150.000.000 20.985.613.000.000. – – 244.764 20.838 14.2012 As at 31.238 294.107.03.872.000 – 250.

667.172.229.84.125. TRADE RECEIVABLES ( Unsecured.549.396 14.637.509.693.670.118 (1. Spares and Tools (v) Packing Material As at 31. 520.762 237.641.301 — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — 9.552.961.951 529.255 23. CASH & BANK BALANCES Cash & stamps in hand ( including Drafts/ Cheques) Balance with Schedule Banks In Current Accounts In Dividend Accounts In Fixed deposit Accounts (having maturity for less than 12 months) In Fixed deposit Accounts (having maturity for more than 12 months) (Fixed Deposits of Rs.409 2.078. REVENUE FROM OPERATIONS Sales of Manufactured Goods Less: Excise Duty Net Sales Industrial Promotion Subsidy under Mega Project Dutydraw back Received 24.406 — — — — — — — — — 137.443 134.075.223 964.730.000 25.2012 Rs. 18.117/-pledged as Margin Money with appropriate authority Previous Year Rs 67.357 — — — — — — — — — — 28.672.451 85.643.162.481 – 25.241. OTHER CUREENT ASSETS Amount Recievable Under Package Scheme of Incentive Interest Accrued on Deposits Advance Income Tax (Net of Provision for Tax Rs 450.961.474 – 766.689 474.726.690 3. valued and certified by the Management) (i) Finished Goods (ii) Raw Material (Including in Transit Rs.03. Previous Year Rs 21.03.596 16.866.359.586 – — — — — — — — — — — — — — — — — — — — — 23.666 — — — — — — — — — 1.933.72) Balance with Government Authorities Preliminary Expenses not written off 718.428.83.613.790.03.643.801 — — — — — — — — — — — — — — — — — — — — — — — — — — — 1.998 1.226 31.165.751 15.938.962.617 — — — — — — — — — 162.865 2.384.964 — — — — — — — — — — — — — — — — — — — — — — — — — — — 1.096.035.944 19.35.892.554.336 471.162.25.732.500.163 722.617 — — — — — — — — — 235.366 509.381.686.660.108 1.121. As at 31.239 3.070.549.710.253 1.488/-) 315.767 5.646.926.089 — — — — — — — — — 2.JINDAL POLY FILMS LIMITED Consolidated Financial Statement NOTES 13.009.882) — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — 23.031.523 — — — — — — — — — — — — — — — — — — — — — — — — — — — 2.088.807 23.03.068) (iii) Scrap (iv) Store.538 213. considered Good) Outstanding for period exceeding six months from the due date Other Receivables 25.425. SHORT TERM LOANS AND ADVANCES (Unsecured -considered Good) Loans and advances to related parties Other Loans and advances 309.541 938.255 28.498 2.196.219.153.447 432.314.643.282.13.504.872 — — — — — — — — — 16.870.929.275 28.512. INVENTORIES ( As per Inventories taken.299.152 23.803.774 1.08.339 17.013.2011 Rs.925 — — — — — — — — — 450.494.232.631.114.275 | 64 | ANNUAL REPORT 2011-2012 .682.398.03.944.713 436.645.2011 Rs.485.552 48.240.015.2012 Rs.577.310 – 402.714 202.732.671) — — — — — — — — — — 31. — — — — — — — — — — 30.13.572 (2.

288.663 ) 69.385.896.361. EMPLOYEE BENEFITS EXPENSES Salaries.755.224 — — — — — — — — — — — | 65 | ANNUAL REPORT 2011-2012 . CHANGES IN INVENTORIES OF FINISHED GOODS.278 14.7) 16. 31.2012 Rs.228.390.778 — — — — — — — — 186.251) 33.244.314.018 20.293.976 — — — — — — — — — — — 594.565 — — — — — — — — — — — 301.283.631 — — — — — — — — — — — 15.293.447 — — — — — — — — 96.560 7.231 5.058.463 5.879.717 5.043.692 100.Non Trade Miscellaneous Receipt Lease Rent Foreign exchange fluctuation ( Net) Claims Received Interest Received (Including TDS Rs.113.198) 337.369 8.099 6.022 1.480 1.997 520.390.603. OTHER INCOME Dividend : On Current Investments Non Trade On Long Term Investments NonTrade Profit on sale of current Investment.868 15. Wages .199.769 123.911 — — — — — — — — — — — 21.655 5.137.883 — — — — — — — — — — — Less: Sales Less:-Provision for Obsolescence Less/(Add): Cost Benefits (refer note no-28.651 6.353.441 2.973 603.456 52. 4.311.665.285.WORK IN PROGRESS AND STOCK IN TRADE OPENING STOCK (Including Excise Duty) Finished Goods Scrap CLOSING STOCK (Including Excise Duty) Finished Goods Scrap Increase/(Decrease) in excise duty on Stock Accretion/(Decretion) in stock — — — — — — — — — — — — 821.176.2011 Rs.246. 19.68.525 — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — 957.832 — — — — — — — — — — — — — — — — — — — — — — (22.644.619.139 — — — — — — — — — — — Less:.03.000 90.817.439.Material Used for Trial Run Less: Closing Stock 16.564 1.427.417.083 5.067 (271.009.907 8.238.366 837.551.679.303.030.523.046 192.513.114.572.825 — — — — — — — — — 74.03.985.289.092 — — — — — — — — — — — — 575.Bonus & Other Benefits Gratuity Contribution to Provident Fund Staff & Workmen Welfare Expenses Staff Recruitment & Development 267.303.723 — — — — — — — — — — — — 16.927 102.350.966.491.164.835 16.825.449 212.178 — — — — — — — — — — — — — — — — — — 94.997 973.888 4.329.335.159.978.878.JINDAL POLY FILMS LIMITED Consolidated Financial Statement NOTES 31.482 6.293.482.556.973 22.901 — — — — — — — — — — — — 1.312.565 — — — — — — — — — — — — 540.586.248 — — — — — — — — — — — — 14.293.32.278 799.437.106 — — — — — — — — 20.281.590. 159.862 100.000 2.848.108.612 18.073.406.159 23.793 — — — — — — — — — — — — 543. COST OF MATERIALS CONSUMED Opening stock Add: Purchases 1.424 16.161 165.371.240.520 — — — — — — — — — — — — 15.922 Previous year Rs.

379 1.976.000 1.519.474.978.928.589.428.862 582.444 17.995 26.620.344.557 59.779 123.780 525.104 116.036.039.012 — — — — — — — — — — — — | 66 | ANNUAL REPORT 2011-2012 .046 109.225.764.2012 Rs.023.704.588) — — — — — — — — — — — 261.873.473.946 2.500 437.317 20.973.349.826.820 16.558.576 515.509 26.680 1.088.870.801.050.642 6.980.302 23.113.883.287 2.633 5.371.779 2.926 3.741 2.03.619 2.213 83.742 3.399 1. Cartage & Octroi Commission Other Selling expenses Provision for Obsolescence Bank Charges Foreign Exchange Fluctuation(Net) Pre-operative Expenses Written off Preliminary Expenses Written off Loss on sale of Fixed Assets 283.969.292 105.822 2.929.448.03.594.392.000 94.2011 Rs.178.836.715.635 23.750 774.876.781.772 8.870.778.747 77.000 58.361 — — — — — — — — — — — — 216.811 33.965.057 3.658 5.835.287.998 4.737.132 32.353 99.371. Inspection and Testing Fees Miscellaneous expenses Miscellaneous balances written off General Outsourcing Wastage Removals Commission & Brokerage on shares Directors Meeting Fees Freight.961.975.597 27.530.812.195.382.776 15.972.413 21.596 16.985. INTEREST AND FINANCIAL CHARGES Interest On Term Loans On Bank Borrowings On Others Financial charges Foreign Exchange Fluctuation (Net) 210.502.128.912 — — — — — — — — — — — — 218. 31.046.076 (34.868 8.458 575.209.241 178.114 6.249.695 35.869 1. 23.706 12.248 21.037 1.628.040 30.841.809 4.384 — — — — — — — — — — — — — 287.380 145.986.252 — — — — — — — — — — — — — 4.JINDAL POLY FILMS LIMITED Consolidated Financial Statement NOTES 31.363 3.094. OTHER EXPENSES Stores and Spares consumed Power and Fuel Carriage Inwards Water charges Job Work Charges Repairs to Plant & Machinery Repairs to Buildings Repair and Maintenance others Packing Material consumed Rent Rates & Taxes Travelling & Conveyance Charity & Donation Social welfare expenses Postage & Telephone charges Legal & Retainership Charges Vehicle upkeep & Maintenance Water & Electricity Charges Insurance Auditors’ Remuneration Printing & Stationery Licence.543.180 43.622.125.195 6.173 — — — — — — — — — — — 24.338 79.327.803.267 6.592 20.737 19.949.214 581 1.995 5.871.500 627.428 22.560.628 — — — — — — — — — — — — 4.326 9.013.615 11.378.311.708 72.765.424.

658 89. Segment Reporting Policies i) Primary Segment Business Segment : The Company’s operating business are organised and managed separately according to the nature of products.349 — — — — — — — — — — — — — — 2.349.329 7.229.03. Rs.864 — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — 81.614 - — — — — — — — — — — — — — — 2.184 29.2011 Rs.276 129.735 86.364 86.575 288. Corporate income and expenses are considered as part of unallocable income and expense.608 61.150 — — — — — — — — — — — — — — 175.578 230.Interest Less:-Unallocable Expenditure Profit before tax Capital Employed a) PET/OPP Film Division b) Others Total SECONDARY SEGMENT Sales in Domestic market Sales in Overseas market 31st March./Lacs 31st March.Inter Segment revenue Total revenue Segment profit before interest & tax a) PET/OPP Film Division b) Other Revenue Total Less:.159 45.596.864 324.819 356.949.165 — — — — — — — — — — — — — — 207. EARNING PER SHARE Profit after Tax in Rs.572 50.060 238.21 25. 2011 348. 2012 322.21 5.203 20.074 260. Secondary Segment Geographical Segment : The analysis of geographical segment is based on the geographical location of the customers.276 129.486 1. which are not identifiable to any business segment. 5. Weighted average no. of Equity shares outstanding Diluted earning per share in Rupees 1.500 1.272 73.573 ii) iii) PRIMARY SEGMENT Segment revenue a) b) PET/OPP Film Division Other Revenue Total Less:. | 67 | ANNUAL REPORT 2011-2012 .766 The company has common fixed assets for producing goods for domestic and overseas markets.440 280.682 — — — — — — — — — — — — — — 179.691 — — — — — — — — — — — — — — 199. Hence.229.148 67.172.545 7.275 61.494 236.159 45.303 18.596.172.03.675 46. of Equity shares outstanding Basic earning per share in Rupees Earning Per Share Profit after Tax in Rs.675 46.512 - 17. Weighted average no.88 26.042.349.042.949.JINDAL POLY FILMS LIMITED Consolidated Financial Statement NOTES 31. separate figures for capital employed can not be furnished.184 29. 31.88 1.2012 Rs.

7 & 11) a(2) & b(6) c(1 & 5) b(6) b(6 & 11) a(2) & b(6) 77.5.6 & 7) b(6) & b(12) b (1.993.3) b(8) c(1.999.f 29.408 219.255.000.467.2) Refered to in.2012) (Formerly Known as Jindal France SAS) b.419.000.5 & 10) a(1) & c(4. 1 2 3 B) Sr Key Management personnels Sh.11 Refered to in. 6.522 - No Transactions (From) 1 2 3 4 5 6 7 8 Purchase of Goods Sale of Goods Professional Service Expenses reimbursed Interest earned Remuneration Shares Sold Shares Subscribed by the company 9 Balance Outstanding .866.068 Refered to in -(d) 31.(a) 31.000 14.950.653.12 31.03.6 & 11) 42.655.240.03.389.11 2. Limited 10 Anchor Image & Films Pvt.000.03.03.743 31.03.03.758 5.508 31.2.e.11 b(6 & 11) b(6) b(1) b(1 & 6) c(11) d(1. 1 2 Associates Jindal India Powertech Limited Rexor Holding SAS (W.093 43.4.555.698.704 229.757 4.03.03.000 6.829.148 72. Pal Sh.03.Loans recoverable .956 1.11 93.942.900 | 68 | ANNUAL REPORT 2011-2012 .143.JINDAL POLY FILMS LIMITED Consolidated Financial Statement 27 RELATED PARTY DISCLOSURE A) As required by Accounting Standard-18 “Related party dosclosure” issued by the Institute of Chartered Accountants of India are as follows:- List of Related parties a.921.B.Sundry Creditors .068 c(1. 1 2 3 4 5 6 7 8 9 Companies Soyuz Trading Company Limited Rishi Trading Company Limited Consolidated Photo and Finvest Limited Jindal Photo Investment Limited Consolidated Finvest and Holding Limited Jindal Photo Limited Jasmin Investment Limited Consolidated Finvest and Investment Limited Passion Tea Pvt.591.12 1.527.971.000 247.947 18.113 1.500 . Samir Banerjee Sh.03.454.526.Sundry Debtors .307 11.1.12 41.838 31.5.481 31.000 248.536 510.924 1.12 b(6 & 11) b(6) & c(12) b(1) b(1 & 6) c(11) d(1. Hemant Sharma The following transactions were carried out with related parties in the ordinary course business: Nature of 31.000.(b) 31.507 17.03.762.11 4.680 229.Advances recoverable .426 Refered to in -(c) 31.815 45.12 7. Limited 11 Jindal India Limited 12 Universal Foils Limited c.627. R.

784 8.278 1.768.665.158.3 — — — — — — — — — — — — — — 1.933.25% 6.308.719.668 53.520 10.907.297 912.349 1586.Gratuity Schemea) a) Liabilities Recognised at the Balance sheet date: Present Value of obligation as at the beginning of the period Interest Cost Current Service Cost Benefits Paid Actuarial (gain)/loss on obligation Present Value of Obligation as at the end of period (31.268.680 — — — — — — — — — — — — — — 800.132.25% 5.284 1308.11 Rs.599 1.097 61.182.3.520 27.00% 9.095.668 – 22.366.2012) b) Fair Value of assets as on Balance Sheet date Fair value of plan assets at the beginning of the period Actual Return of plan assets Contribution during the year Benefits paid Actuarial (gain)/loss on obligation Fair value of plan assets at the end of the period Net Assets/(Liability) recognized in the Balance Sheet as provision Principal Actuarial Assumptions Rate of Discounting Expected rate of Return on Plan Assets Rate of increase in salary 26.330 4.000 100.000 58.424.369 — — — — — — — — — — — — — — | 69 | ANNUAL REPORT 2011-2012 .714.000. 28 28.561.000.513 2.2210 31. Claims against Company.50% c) d) 28.000 128.297 2.068. Outstanding Letters of Credit (Including Capital Goods) c.513 22.000 365.000 1.225) 26.897.732 2.12 Rs.585 8. 1276.535.829.347 181.44. details are as under: Raw Material (Trial Run) 192.595 – (3.287. 770.889 — — — — — — — — — — — — — — 3.448.00% 21.507 1290.4 Employee Benefit Define Plan.981 61.493. Demands raised by authorities against which.481.289 – 141.082.401.917. Company has filed appeals: i) Income Tax ii) Excise Duties/Service Tax iii) Sales Tax iv) Custom Duties Remuneration to Auditors’ comprises: Audit Fee Tax Audit Fees In Other Capacities.917.848 4.994 – 140.226. not acknowledged as debts d.023 2.JINDAL POLY FILMS LIMITED Consolidated Financial Statement NOTES ON ACCOUNTS TO CONSOLIDATED BALANCE SHEET AND PROFIT & LOSS ACCOUNT NOTE NO. (previous year Rs.460 – Power & Fuel 1.456.330.714.830.03.680 100.878.830.2 Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) Contingent Liabilities: a.659) 31.060 1308.211 16.435.155.03.000 28.500 28.092 3.456.000 1007.000 58.899.082.128.556.50% 9.369) capitalized to respective fixed assets during the year.560.03.5 a) Preoperative expenditure amounting to Rs. 31.1 28.438 27.430 33.592 2.480 Salary 956.989 5. Uncalled liability of partly paid shares e.459 159. Bank Guarantees b.291 – (681.916 2.128.500 1.366.

which has been shown as exceptional item. A sum of Rs. (d) During the year the company has made a provision of Rs 5. the Company has reversed Rs. (e) During the year.31 lacs related diminution of its investments in Jindal Resources Muzambique Lda (a subsidiary Company).31 lacs on account of diminution in value of investment. 28.50 lacs. (previous year Rs Nil) have been accounted under the head other income/(other expenses) in the profit & loss account. under that scheme and the same has been shown as revenue from operation.432. the Company is entitled for an amount of Rs.349 (previous year Rs.894) being the difference between domestic vs.178 (Previous year Rs.81 lacs has been shown as exceptional item.2700. Export Incentive under Duty Entitlement Pass Book Scheme (DEPB) amount to Rs.. Small and Medium Enterprises Development Act.586).G. whichever is lower.9 Advance receivable in cash or in kind includes Rs. the realizable value of current assets. (Formerly Hindustan Polyester Ltd.21.932) has been credited in the account of raw material. the Company has disinvested 60% of its total shareholding in Jindal France SAS (wholly owned subsidiary). Jindal Metal & Mining International Ltd has made provision of Rs. thus total amount of loss for Rs.S.12 28.824.171).594) has been transferred to Repair and Maintenance from Capital Work in progress. (c) During the year the company has made a provision of Rs 102.11 Certain old balances of sundry debtors and sundry creditors are subject to reconciliation and confirmation.162. of which the Company is beneficial owner are held by certain individuals in fiduciary capacity. 28. Loss of Rs 4763. has been adjusted in the cost of raw material. During the year. I.00 Lacs for the diminution of its investment in Haldia Sythetic Rubber Ltd (a subsidiary Company) due to the company has not been able to start its business .171 (Previous year Rs 28. The balance 40% of the holding require a provision of Rs. 1876. which was charged to profit and loss account in the previous year on account of advance paid to vendor. 6 shares of Haldia Synthetic Rubber Ltd of which the Company is beneficial owner are held by certain individuals in fiduciary capacity.384. 174.565. (previous year Rs. which has been shown as exceptional item. 2011 and as required by Accounting Standard 11.24 Lacs for permanent diminution of its investment in Jindal Resources Muzambique Lda (a subsidiary Company). the Company is entitled to industrial promotion subsidy to the extent of 100% of the fixed capital investment or the extent of taxes paid to the State Government within a period of 7 years.2006 issued by Ministry of Corporate Affairs vide notification no. loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.197. relating to amounts unpaid as at the year end together with interest paid/payable as required under the said Act have not been given.6 Exceptional Items includes following (a) During the year.R.12.7 During the year.469. on which there is a loss of Rs.JINDAL POLY FILMS LIMITED Consolidated Financial Statement b) During the year an amount of Rs. of which the Company is beneficial owner are held by certain individuals in fiduciary capacity.00.254. Nil (Previous year Rs 48. 2006 and hence disclosures. (f) 28. Stores and spares consumed and salaries and wages incurred during the year for repair and maintenance of plant & machinery and sheds & building have been charged to the former accounts and not allocated separately as the amount is not ascertainable.14 28. 219.8 28. Gain on account of hedging against export exposures amounting to Rs Nil.being the amount of custom duty deposited against import of capital goods assessed under provisional assessments. The Export obligation undertaken by the company for import of capital equipments under EPCG/100% EOU scheme of the Central government at the concessional or zero rate of custom duty are in the opinion of the management expected to be fulfilled within their respective due dates/extended due dates. 28.000/-.560. 6 shares of Jindal Poly films Investments Ltd.28.474. (b) Pursuant to the adoption of Accounting Standards as prescribed by Companies (Accounting Standards) Rules. which has been shown as exceptional item.10 28. imported material prices prevailing at the year ended on 31st March 2012 on account of advance licences excess utilized for which exports are yet to be made.93 lacs (previous year gain of Rs 612.) of which the Company is beneficial owner are held by certain individuals in fiduciary capacity. Under the Package Scheme of Incentive approved by the Government of Maharashtra. 28.254. 114. The Company has not received from suppliers regarding their status under the Micro.15 | 70 | ANNUAL REPORT 2011-2012 .115. II. if any. 600 shares of Hindustan Thermal Power Generation Ltd. In the opinion of the Board and to the best of their knowledge and belief. 6 shares of Jindal Metal & Mining Ltd.17 lacs) on translation/settlement of foreign currency monetary items including borrowings have been shown as exceptional items in the profit and loss account.914 (E) dated 29th Dec.102.451.13 28.

230. the Company has disinvested 43.18 As per Our Report of even date annexed hereto For Kanodia Sanyal & Associates Chartered Accountants (R. Previous year’s figures have been regrouped and/or rearranged wherever required.09.S (a wholly owned subsidiary ) and after this disinvestment. During the year.84 Lacs.17 28.16 A part of the Work In Progress Plant & Machinery at Gulaothi & Khanvel Units were disposed off during the year for Rs.2012 | 71 | ANNUAL REPORT 2011-2012 .P. Banerjee) Whole Time Director. is ascertainable only after completion of the total disposal of Plant & Machinery. if any. Soni) CFO Place: New Delhi Date: 01. the company is having only 40% holding in Jindal France S.800 nos. KANODIA) Partner M No : 016121 (R. of shares of Jindal France S.A. 28.A. B. the profit / loss. Pal) Whole Time Director DIN:– 00092049 (Ajit Mishra) Company Secretary (S. The same has been adjusted from Gross Block of the WIP under Fixed Asset.36.JINDAL POLY FILMS LIMITED Consolidated Financial Statement 28.Marketing DIN:– 00011754 (L.S and hence it is no more a subsidiary of the Company. K.

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