HINDUSTAN SHIPYARD LIMITED

PAPERS TO BE LAID ON THE TABLE OF LOK SABHA/RAJYA SABHA

AUTHENTICATED

RAKSHA MANTRI

Chennai. Good Pride" 53.CONTENTS • • • • • • • • • • • • • • • Board of Directors Chairman's Address Notice Directors’ Report Comment of the Controller and Auditor General of India Auditors' Report Balance Sheet Profit & Loss Account Schedules to the Accounts Notes Forming Part of Accounts Balance Sheet Abstact & Company's General Business Profile Cash Flow Statement Social Overheads Last ten years at a Glance Ships Built 1 3 6 10 21 28 33 34 35 45 59 60 61 63 65 Front Page Back Page : "M. : Repair of Mobile off shore Drill Ship Sagar Vijay of ONGC .000 DWT Daimond series the biggest Bulk carrier built at HSL for M/s. Goodearth Maritime Limited.V.

Doctor’s Colony.V. IAS VAdm.com www. REGISTERED OFFICE 209 & 209A. IAS Dr. P. G. KUMAR.BOARD OF DIRECTORS Cmde.in E-mail : 1 . AVSM. Visakhapatnam – 530 017.R. VSM. NARESH KUMAR. VSM Capt. Pedda Waltair. IRTS Shri Rajneesh Gupta. Brahmananda Reddy.V.K.N.hsl.K. N. Merrylife Apartments. Rajendra Place New Delhi-110 008 Phone Fax : 011-25737425 : 011-25730029 HEAD OFFICE & WORKS Gandhigram. IRAS Chairman & Managing Director Director (Finance & Commercial) Director (from 22-02-10) Director (from 22-02-10) Independent Director (from 06-06-08) Director (from 16-7-09 to 22-2-10) Director (from 6-8-09 to 22-2-10) Director (upto 16-7-2009) Director (upto 6-8-2009) COMPANY SECRETARY Shri INAITULA BAIG BANKERS Indian Bank State Bank of India UCO Bank Syndicate Bank Corporation Bank Canara Bank AUDITORS M/S. MOHAN Shri VINEET GARG.R. IN (Retd) Shri RAKESH MAHAJAN Shri GYANESH KUMAR. T.nic. Visakhapatnam – 530 005 Phone : 0891-2577404/2577437/ 9493792132 (PRO) 9493792351 (PRO Office) Fax Web : : 0891-2577502/356/667 hsl@hslvizag.KUMAR & CO. IAS Shri K. Chartered Accountants 9. Vikram Tower 16. RAO.

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140.2010 through a Presidential Order for requirements of Defence. handed over. HSL has thus achieved many significant mile stones and earned a name for itself as a ship builder of repute both within India and abroad. The Company achieved the highest ever income of Rs. and it has 68 years of glorious history in ship building and repairs.32 Crores for the year 2009-10 as against the loss of Rs. Details of the Keels laid.01 Crores in previous year. productivity improvement measures 3 b) . The Company recorded a profit after tax of Rs.CHAIRMAN’S ADDRESS Dear Shareholders.04 Crores was also the highest ever. I have great pleasure in welcoming you to this 58th Annual General Meeting of your Company and share with you some of the significant achievements of the Company during the year under review. HSL is one of the largest Defence Shipyard in the country. the administrative control of Hindustan Shipyard Limited was transferred from the Ministry of Shipping to the Ministry of Defence on 22nd February. HSL has built 163 Vessels including 11 Plotforms ships and repaired around 2000 vessels for various clients.2. More importantly. The Ship Repair Income of Rs.266. I take them as read. During the year.662.03 Crores in its history despite restrictions imposed on taking fresh orders since last two years. the company has been able to achieve progressive growth for the last five years pending implementation of the revival plan. The highlights of the year 2009-10 are as follows : a) In keeping with its image as a premier shipyard. HSL has shown consistent growth in almost all aspects of its activities. The year 2009-10 has also been a special one for the company in many ways. ships launched. The Directors’ Report and the Audited Statement of Accounts for the year 2009-10 and the Notice to the Shareholders have already been circulated and with your permission.

The company adheres to good corporate practices and is constantly striving to adopt the best practices. c) Some of the major achievements during the year are as follows : • • • • • • Three ships were delivered including the last 30. Ministry of Defence has approved additional post of Director(Corporate Planning) and Director(Strategic Projects) for meeting the new business goals & requirement of the Company. Corporate Governance It is the constant endeavour of the company to adopt and maintain the highest standards of ethics in all spheres of business activities. Industrial Relations during the year continued to be peaceful and harmonious. Your Company is thus creating value addition by not only achieving path breaking achievements in shipbuilding & Ship repairs but also developing indigenous repair capabilities of Naval Submarines and Offshore Rigs in the Country. On approval of the financial restructuring. integrity. Keel was laid for four new vessels. The ship building order book position is lean and new orders for small crafts as well as high value orders for capital ships are expected from the Navy and Coast Guard. dedication.2010 for construction of 3 Numbers 50 Ton Bollard Pull Tugs. Launching of the first and second Inshore Patrol Vessels from slip way. the overall production of this yard has improved from 63772 DWT in the year 2008-09 to 67572 DWT in 2009-10 with a capacity utilization of 89%. Recently Ministry of Defence has placed an order on HSL on 27th August. The order book is likely to grow exponentially over next five years with construction of Warships and Submarines. Grading vide Memorandum of Understanding The performance of the Company for the year. These all round improvements in the performance of the company were made possible by team work. ERP. is expected to be adjudged as “Very Good” in terms of the MoU signed with the Government of India. adequate disclosures and legal compliances. It strives for transparency in decision making. as per the internal Assessment. I am happy to report that due to these efforts. the yard will be able to make good profits in the coming years.000 DWT Bulk Carrier was floated from Building Dock. e-tendering and e-procurement. The Company is also making all efforts to enhance transparency through use of IT systems. 4 . sacrifice and hard work put in by all our employees.and income generated are given in the Directors’ Report. First largest 53. Progress of ONGC rig repairs contract of approx Rs.400 Crores has been remarkable and most of the works were completed in given time frame of one year. The Company’s philosophy of Corporate Governance is based on the principles of honesty. New infrastructure set up for pipe manufacturing & testing. accountability.000 DWT Bulk carrier.

Goodearth Maritime Limited. the Principal Director of Commercial Audit and Ex-Officio Member. The Skill Development through training is one of the high priority areas to hone the skills required for construction of complex warships and Submarines HSL has travelled a long way in these years and I have no doubt that this yard will continue to make significant contribution to the ship building industry and the National security at large in the days to come. Yard Modernization The yard needs immediate upgradation to increase its production capacity in order to cater for the defence requirements. The Oil & Natural Gas Corporation Ltd. the Statutory Auditors.. IN (Retd) Chairman & Managing Director 5 . VSM. The company plans to enhance its design capability by modernizing its Design office with additional Tribon Licenses and augment the manpower strength for detailed design of Submarines and Warships. the Naval and Coast Guard Authorities. the Shipping Corporation of India Ltd. I also acknowledge with gratitude the continual assistance and guidance received from the Indian Navy and Coast Guard. Jai Hind Cmde. M/s. I would like to place on record our thanks to the Comptroller & Auditor General of India. The yard infrastructure also needs to be upgraded for construction of submarines. and the Shareholders for the trust they have reposed on us. the Dredging Corporation of India Limited. I appreciate the vital role and hard work put in by all the employees of the Company to achieve its goal and the Board of Directors and the Ministry of Defence who have supported and guided the Company for the turnaround. Internal Auditors for their valuable suggestions and co-operation. Skill Development The Yard is planning to induct young workforce to take care of large attrition due to retirements. Acknowledgements I would like to conclude by thanking the Central and State Government Authorities. the Company is endeavoring to obtain orders from Naval and Coast Guard Ships for large capacity utilization. Consequent to transfer of Administrative control of HSL from Ministry of Shipping to Ministry of Defence.. the Ministry of Defence. Naresh Kumar.Future Out look Your Company is fully committed to build quality ships for the Indian Navy and Coast Guard. the Ministry of Shipping. The Company is also planning to upgrade its infrastructure through major modernization programme for concurrent construction of ships & submarines. The modernization programme is being taken up on high priority. Last but not the least.

2) To fix the remuneration of the Auditors to be appointed by the Comptroller & Auditor General of India for the Financial Year 2010-11. the 24th September.O. by substituting the words “in the State of Delhi” for the words “in the State of Andhra Pradesh” in Clause 2 of the Memorandum of Association of the Company. New Delhi110 029 to transact the following business: ORDINARY BUSINESS 1) Adoption of Annual Accounts of the Company for the year 2009-10: To receive. consider and adopt the Balance Sheet as at 31st March.00 A. Safdar jung Enclave. New Delhi in the State of Delhi to Hindustan Shipyard Ltd. counsels and other consultants. his memorandum of appearance before the concerned Bench of the Company Law Board as and when summoned to do so and represent the company in all hearings concerning the petition of the company. 2010 and the Reports of the Directors and Auditors thereon. the petition under Sub-section (2) of Section 17 of the Companies Act. Vikram Tower. 1956 and subject to confirmation by the Company Law Board. to pass with or without modification the following resolution as a Special Resolution: “RESOLVED THAT pursuant to Section 17(1) and other applicable provisions. if any. at Shipyard House. as prescribed in Sub-section (2) of the said section..M.. Company Secretaries in Practice. on behalf of the company.” b) c) 4) To consider and if thought fit. along with the petition. the Memorandum of Association of the Company be altered so as to change the place of the Company’s Registered Office from its present situation at 209 & 209A. Gandhigram P. 1956 to the Company Law Board for securing confirmation to the alteration to the Memorandum of Association of the Company so as to change the place of the Registered Office of the Company from the State of Delhi to the State of Andhra Pradesh. A1/314. on behalf of the company. of the Companies Act. to file. Visakhapatnam-530005. will be held on Friday.NOTICE OF 58th ANNUAL GENERAL MEETING Notice is hereby given that the 58th Annual General meeting of the Shareholders of Hindustan Shipyard Ltd. 16 Rajendra Place. Shri Inaitula Baig be and is hereby authorizeda) to make. SPECIAL BUSINESS 3) To consider and if thought fit. RESOLVED FURTHER THAT the company secretary. to pass with or without modification the following Resolution as a Special Resolution: 6 . advocates.. lawyers. to represent the company and plead on its behalf before the concerned Bench of the Company Law Board and or any other agency in all matters connected with the petition of the company. and to appoint. if and when required.2010 and the Profit & Loss Account for the year ended 31st March. 2010 at 11.

(b) The instrument appointing the Proxy. To All the Shareholders Statutory Auditors Directors Chairman of the Audit Committee. be deposited at the Registered Office of the Company not less than 48 hours before the time of holding the meeting. should. be and is hereby approved and adopted as the Articles of Association of the Company in supersession and substitution of the existing Articles of Association of the Company. if any. RESOLVED FURTHER THAT the Secretary of the Company be and is hereby authorized to take all steps for giving effect to the resolution.2010 NOTES : (a) A member entitled to attend and vote is entitled to appoint a Proxy to attend and vote instead of himself and a proxy need not be a member of the Company. in order to be effective. (c) The relative Explanatory Statement pursuant to Section 173(2) of the Companies Act. in respect of the Special Resolution set out above is annexed hereto. the New set of Articles of Association of the Company.“RESOLVED THAT pursuant to the provisions of the section 31 and other applicable provisions if any of the Companies Act. 1956.1956. 7 . duly initialled by the Chairman of the Meeting. a copy of which is placed before the meeting.” By order of the Board Sd/(Inaitula Baig) Company Secretary New Delhi Dated the 19th August.

Item No.O. 1956 ATTACHED TO THE SPECIAL RESOLUTION As required by Section 173 of the Companies Act. under Section 17(2) of the Companies Act.EXPLANATORY STATEMENT PURSUANT TO THE SECTION 173(2) OF THE COMPANIES ACT. the following Explanatory Statement set out all material facts relating to the business mentioned under item Nos. If the Registered Office is located in Andhra Pradesh it will be convenient. HSL Factory & Administrative Office is located at Vishakhapatnam in the State of Andhra Pradesh. efficiently. effectively and advantageously. Therefore. The Directors are of the opinion that shifting of Registered Office would ensure better cost and operational control. New Delhi in the State of Delhi to Hindustan Shipyard Limited. The shifting of Registered Office to Andhra Pradesh will enable the Company to have better and effective control over the working of its Registered Office. the company’s Administrative and work offices are in Andhra Pradesh and all business activities are based in the State of Andhra Pradesh. After the proposal is approved by the Shareholders. the proposed resolution also seeks Authority to the Company Secretary to make the said petition to the Company Law Board on behalf of the Company. 8 . Therefore the Directors. in the State of Andhra Pradesh. Visakhapatnam -530 005. 3 & 4 of the accompanying Notice dated 19th August. which in turn shall result in more efficient and economical working of the company. consider that the Memorandum of Association of the Company would be altered so as to change the place of its Registered Office from its present situation at 209 & 209A. Vikram Tower. Though at present the Registered Office of the Company is situated in the State of Delhi at rented premises. None of the Directors of the Company is interested or concerned in the proposed Resolution. The Board commends the resolution to the members for their consideration and approval.2010. conveniently. It will also enable better coordination and integration of the Company’s activities. 1956 to the “Company Law Board” for confirmation of the alteration to the Memorandum of Association of the Company so as to shift the Company’s Registered Office from the State of Delhi to the State of Andhra Pradesh. For Administrative convenience and in order to carry on its business more economically. Gandhigram P. it is deemed expedient in the overall interest of the company to shift the Registered Office of the Company from the State of Delhi to the State of Andhra Pradesh. Hindustan Shipyard Limited (HSL) is a Central Public Sector Undertaking wholly owned by the Government of India (GoI).3 Clause 2 of the Memorandum of Association of the Company provides that the Registered Office of the Company will be situated in the State of Delhi within the jurisdiction of the Registrar of Companies at Delhi. 1. 16 Rajendra Place.1956. a petition is required to be made. efficient and also economical to manage the operations of the Company..

None of the Directors of the Company is interested or concerned in the proposed resolution. Item No. it will be proper and convenient to adopt the New set of Articles of Association in substitution of the existing articles of Association of the Company. By order of the Board Sd/(Inaitula Baig) Company Secretary Place: New Delhi Date: 19th August. 2010 9 . A copy of New set of Articles of Association will be available at the Registered Office of the Company for inspection by any member of the Company on any working day during business hours of the Company.2. The Board commends the Resolution to the members for their consideration and approval. Hence a new set of Articles of Association of the Company have been prepared in conformity with the companies Act. Your Directors commend the proposed Resolution for your consideration and adoption of the New set of Articles of Association of the Company to replace the existing Articles of Association of the Company. The Companies Act and other applicable rules have been amended/changed from time to time. Copies of the proposed Articles of Association will also be available at the Annual General Meeting. The Articles of Association of the Company have been amended from time to time to incorporate/delete some of the Articles since their adoption.1956 and in line with similar corporate entities in Ship building & Shiprepair under administrative control of the Ministry of Defence.4 The present Articles of Association of the company were adopted in 1970. Your Board of Directors considers that instead of amending the existing articles substantially which would have been a very cumbersome affair.

together with the Audited Accounts and Auditors’ Report for the financial year ended 31st March 2010.DIRECTORS’ REPORT FOR THE YEAR 2009-10 The Shareholders.59 99.27) Total 662.04 Crores was also the highest ever.24 (39.43 Crores as against Rs.1961 vide notification No. The Shipyard would now play a major role as a Defence yard and undertake construction of Hi-tech Warships and Submarines.41 8.266. CAPITAL STURCTURE : The Authorized Equity Share Capital and Paid-up Equity Share Capital of the Company as on 31st March 2010 stood at Rs.2.32 10 .71 21.26 2. THE FINANCIAL PERFORMANCE OF THE COMPANY FOR THE YEAR 2009-10 WAS AS FOLLOWS : All figures in Rupees Crores Description Total Income Profit/(Loss) before Depreciation.304 Crore and Rs. Your Directors have pleasure in presenting this Fifty Eighth Annual Report on the working of the Company.17 (35.80 Retrofit Unallocated 115.80) +31.68 00.17 8. Dated 22nd February.99 Crore respectively.47 90.01 Crore in previous year.17) Ship Repairs 276.2010 under Government of India (Allocation of Business) Rules.17 13. The Company achieved the highest ever Income of Rs. 2.41 (33.11) 4. 3. the President of India transferred the administrative control of Hindustan shipyard Limited from the Ministry of Shipping to the Ministry of Defence with effect from 22nd February.460.46 52.03 25.32 Crores for the year 2009-10 as against the loss of Rs.16) 5. 1.89 (57.662. Hindustan Shipyard Limited.97) 0.59 (58.140.13 Crores in the previous year. interest and income tax Depreciation Interest & Finance charges Profit/(Loss) before tax Provision for Income Tax of earlier years Deferred Tax Asset Net Profit After Income Tax Ship Building 265. Gentlemen.86 + 4.301.608. The value of Production for the Financial Year 2009-10 is Rs.47 1.1/22/1/2010-Cab. The Ship Repair income of Rs.2010.46 (9.03 0.07 6.03 Crores in its history. The Profit after tax is Rs. TRANSFER TO MINISTRY OF DEFENCE Considering the strategic location of HSL and requirements of Defence.

03.2009 29. Chennai Coast Guard.2009 04. No.(GML).2010 11 .06.000 DWT Bulker Fourth Inshore Patrol Vessel (IPV) Fifth Inshore Patrol Vessel (IPV) Third 53. 1) Event Delivery Date 27.2009 31.2009 Description of Vessel Owner Oil recovery and pollution Visakhapatnam Port Trust control vessel Fourth 30. Excise Duty and Fringe Benefit Taxes. 5. CONTRIBUTION TO CENTRAL EXCHEQUER: Your Company's contribution is Rs.000 DWT Bulker 32-Ton Bollard Pull Tug Launching of First IPV Floating of First 53. 52. Chennai Coast Guard Coast Guard GML. Customs Duty. Service Tax.2009 17. Audit Board is enclosed vide ANNEXURE-1 to this report.08 Crore for 2009-10 as against Rs. The Financial Restructuring is under active consideration with Government of India.000 DWT Bulker Goodearth Maritime Ltd. 243.1.09.2009 18. DIVISION-WISE PERFORMANCE : SHIPBUILDNG The Shipbuilding Division of your Company achieved a Value of Production of Rs.2009 3) Keel Laying 24. Chennai 2) Floating / Launching 28. 5. 5.91 Crores during the year 2009-10 to the Central Exchequer by way of Income Tax.000 DWT Bulker Launching of Second IPV Second 53.08.1.06. Sl.49 Crore of the previous year.The "NIL COMMENT' Report of the Principal Director of Commercial Audit & Ex-Officio Member.2009 29.258.09.08. MAIN EVENTS The following events have been achieved during the year 2009-10 in Shipbuilding Division.04.1.05. GML. Chennai New Mangalore Port Trust Coast Guard GML. 4.2009 10.11.

The First biggest 53.Purandeswari.97 894.250 93. Inshore Patrol Vessels Indian Coast Guard 2 Nos. HSL is having the orders for construction of 12 ships and the value of orders is Rs. Bulk Carriers Chennai 5 Nos.3. Good Earth Maritime Ltd.68 231.V. 894.000 DWT Diamond series M/s.2010 The first of the Six Nos. 53.80% 27. M.250 89. "M.1.hrs/DWT 2009-10 75.84 Cr as on 31st July.4. 50-Ton Bollard Pull Tug Total Visakhapatnam Port Trust 5. 11137 to 11141 11154 to 11158 11160 & 11161 Type of the Vessel Owner Value (Rs. 5. No.. 53. No.572 89. Hon'ble Union Minister of State for HRD.e.Pallam Raju.84 5 Nos.5 Standard Pioneer Ships per annum) Production Target (B. in Cr.535 63.2010 in the august presence of Shri.D. Production / Physical Performance The Shipbuilding production in DWT and Capacity Utilisation achieved during the year 2009-10 has been compared with the previous year and is as under: Sl.1.4.261 67. MOU GRADING / RATING MoU grading / rating for the year 2009-10 as per self evaluation is "Very good".772 85% 42.M.19 79. 1 2 3 4 5 12 Description Installed capacity as reckoned (at 3. These ships are under various stages of construction.Good Pride" the biggest Bulk Carrier built by HSL was delivered to its owner M/S Goodearth Maritime Limited on 12. Order Book position as on 31st July.E) Actual Production achieved Capacity Utilisation Productivity achieved Unit DWT DWT DWT Percentage M. Hon'ble Union Minister of State for Defence and Smt.2. 1 2 3 Yard No.1.) 583.0 .000 DWT Diamond series Bulk Carrier i.000 DWT vessel delivered to owners The detail of the order book is as follows : Sl.5.2010.20 2008-09 75.

Ship repair Division has undertaken repairs on 29 Vessels (including 17 Foreign Flag Vessels) of various types belonging to Indian Navy.5. 57. 266. ONGC's Mobile Offshore Drilling Unit 'SAGAR VIJAY' repairs were completed successfully as per schedule.275 Crores Turnover in Shiprepairs. 6. Ship repair work orders worth around Rs.3 RETROFIT DIVISION The Value of Production on account of Submarine Repairs was Rs.144.13 Crore of the previous year.31 crore for 2009-10 as against Rs.450 Crores (approx)} berthed at HSL Wet Basin on 17th August'09 and the repairs are under various stages of completion. SCI.52 crore of the previous year. DCI. 5. FUTURE OUTLOOK : The present orders are likely to be completed by early 2012 and we are expecting high value orders from Indian Navy in the near future.04 Crore for 2009-10 as against Rs. VPT etc.2 SHIP REPAIRS The Ship Repairs Division of your Company achieved a Value of Production of Rs. 99.423.55 Crores are on hand and the target for the next year is to achieve Rs. New business plan to construct Warships & Submarines are being finalized 13 . EVENTS ACHIEVED DURING THE YEAR 2009-10 1) 2) ONGC's Jack Up Rig "SAGAR RATNA" {order worth Rs. ONGC.

The modernization programme is being taken up on high priority. Administrative Building and Design Office for effective communication. 10. Your Company is going to receive orders for three numbers 50 Ton BP Tugs. 13. INFORMATION TECHNOLOGY Your Company has successfully implemented the following tasks under IT during the year: Extension of LAN facility in Dry-dock and Ship Repair Division. 12. Mumbai. and has fulfilled all the statutory requirements of Central & State Pollution Control Boards. In order to motivate employees. available. three numbers 25 Ton BP Tugs and Six numbers 10 Ton BP Tugs. The Company is committed to meet all the stipulated standards for maintaining and protecting the environment. 7. The Wage Revision for Staff & Workmen is due from 1. On-site provisional work order system was introduced in Ship Repair Division to facilitate release of provisional work orders. Two numbers 500 Ton Self Propelled Water Barges and One Diving Support Vessel from Indian Navy.by MoD along with modernization of the shipyard. Management has accorded recognition to the union for a period of 3 years. The Quality Management System of ISO 9001:2000 Standard is being maintained through periodical Internal Audits by Quality Internal Auditors throughout the year 2009-10. may be utilized for Commercial Vessels. WELFARE ACTIVITIES Your Company's concern for the welfare of the employees continues to be paramount and various welfare 14 . The surplus capacity. water barges and Offshore Patrol Vessels by using TRIBON M3 Software. QUALITY ASSURANCE The 1st Surveillance Audit & 2nd Surveillance Audit were satisfactorily carried on 22nd to 24th April. The Management has constituted a Wage Negotiation Committee and the negotiations have been completed. HS Staff and Workers Union elections were held on 14. The Company plans to concentrate on the core business of construction of Warships and Submarines. Increased usage of intranet for quick intra Departmental Communication. 8. MODERNISATION : The yard needs immediate upgradation to increase its production capacity in order to cater for the Defence requirements. if any.09. DRAWING & DESIGN OFFICE CAD/CAM centre has developed completely in-house design for Tugs. 11. The Design Office capability & capacity is planned to be augmented to cater for design of Warships and Submarines 9. HSL has implemented new Promotion policy for both Staff and Workmen to streamline promotions.2009 & 16th to 18th December. The MoU is being processed further for the Board and Government sanction. INDUSTRIAL RELATIONS The Industrial Relations situation in the Company during the year was cordial and harmonious. The yard infrastructure also needs to be upgraded for construction of Submarines.1.2009 respectively by LRQA.2009. ENVIRONMENTAL ASPECTS Your Company continues to be environment friendly.11.

Productivity Day was observed on 12th February 2010. Hyderabad. 2009 and 26th January. During the year 2009-10. "Prosperity through Productivity" was adopted as main theme for the year 2010 during the Productivity Week. HSL also arranged in-plant training and extended project work facilities to 1075 students of various Engineering Colleges. C & MD hoisted the National Flag on both these occasions and Cultural Programmes were arranged by HSR Club. Training was also imparted to Graduate Engineers and Diploma Holders. Ministry of Labour and Employment. to 10 p. Management Institutions and Marine Institutions. The employees also took a "Safety Pledge' during Safety Week and a safety book has been compiled for ready reference. one in the yard which works from 6 a. RDAT. Free medical check up camp was organized for the School children.. With a view to educate the employees on Safety.measures have been implemented. One additional increment was given to the employees' who underwent family planning operation. 17. To propagate and imbibe the message of "Safety Promotion".m. Company provided Crèche facility for the children of lady employees. 314 Trade Apprentices have successfully completed the training and were awarded National Apprenticeship Certificates by Govt. 2010. Safety gears are provided to all eligible employees every year and the use of the same on the job is also monitored. provision of welfare amenities at work place etc. and the other at residential area of colony which works round the clock to cater the needs of employees and their dependents. NCVT. Board of Apprenticeship Training (SR). GENDER BUDGETING In pursuance of the instructions of the Government of India. HSR club conducted 63rd Independence Day and 61st Republic Day celebrations on 15th August. during the year 2009-10. Medical facilities are extended for outpatient treatment by a system of panel doctors for employees of HSL.e. 16. a "Gender Budgeting Cell" has been constituted with four Women Officers to act as a Nodal Agency for all gender responsive budgeting initiatives and to ensure effective implementation of general development programme for women employees like training. SAFETY. and the period 12th to 18th February 2010 was observed as National Productivity Week.m. 26 Engineering Graduates. 39th National Safety Day was observed on 4th March. Under referral system there are six referral hospitals from where all employees get in-patient treatment and the HSL pays the medical bills directly to the hospitals for the services rendered as per the rate contract entered with them. TRAINING Training was imparted to large number of ITI Trade Apprentices in the designated trades. of India. 8 Technician (Diploma) Apprentices were imparted training under the Apprentices Act and awarded Certificate of Proficiency by Govt. Majority of the employees including their families are covered under the Medical Reimbursement 15 . National Fire Services Week 2009 was observed from 14th April 2009 and fire safety drills were held in the yard. Cmde Naresh Kumar. 15.. of India. an exhibition on safety was held during Safety Week. advancement of skills. The Hindustan Shipyard Recreation (HSR) Club assisted by the Company looks after the recreational facilities for the employees. Chennai. Ministry of Human Resource Development. SECURITY & PRODUCTIVITY The Safety of the workers/employees is accorded utmost importance. 2010 respectively at Colony Parade Ground. MEDICAL BENEFITS HSL runs two Dispensaries i. 14.

the Annual Report of the Company has been prepared bilingually. the representation of SC/ST and ex-serviceman and women employes as on 1-1-2010 are given at ANNEXURE '2'. CORPORATE SOCIAL RESPONSIBILITY HSL believes that the activities under Corporate Social Responsibility (CSR) are not philanthropic acts but a humble service to the society.36. Under Section 3(3) of the Official Languages Act.'3'. your Company has undertaken various voluntary steps to enrich social development. 3% reservation for physically handicapped in all Groups viz: A. The Company's CSR vision forms an integral part of the business function and covers community development initiatives prioritized on local needs: Gandhigram Educational Society (GES): The educational services are available to children of HSL staff as well as local public in all the six educational institutes which are managed by GES. 16 . Detailed statistics regarding particulars of recruitment made during the calender year 2009 and the members filled by members of SCs/STs. Four Physically Handicapped candidates have been recruited/ promoted. 19. RESERVATION OF PHYSICALLY HANDICAPPED As per Government of India instructions. RESERVATION OF POSTS FOR SCs/STs/OBCs Your Company has complied with the Govt.'4' respectively. With a positive commitment to strengthen the fabric of society for improving the quality of life of the workforce. B. efforts were initiated to promote and encourage the use of Hindi in the Official work.83 Crores was disbursed for treatment of employees and their family members during the year 2009-10.and provided free electricity & water to all educational Institutions being operated in the HSL Township by Gandhigram Educational Society. 18. 21.738/. Health & Family Welfare: The existing Colony Dispensary is primarily to cater the need of colony residents. body constituted by HSL. Imparting Vocational Training & Setting up of Skill Development Centers: HSL is providing vocational training under the Apprentices Trade Act and Graduate Trainees Scheme of GOI which are both of a statutory nature. OFFICIAL LANGUAGE IMPLEMENTATION The Company has been following the directives issued by the Government of India in regard to progressive use of Hindi for official purpose. their families and community at large. Annual Eye Check up by ophthalmologist from Government Hospital for crane operators and drivers was also arranged. Incentive scheme for doing original work in Hindi is in vogue in the Company for increasing the correspondence in Hindi. Hindi training is being given to our employees under Hindi teaching scheme.Scheme for hospitalization and claims amounting to Rs. 20. However first-aid and medical assistance is given to outsiders in case of emergency when required. Official Languages Implementation Committee meetings are being held regularly. HSL waived past dues of electricity and water charges of all educational institutions in the HSL Township amounting to Rs. C and D posts and "C" & "D" (Staff & Workmen) posts are being made.4. This has accelerated the effective implementation of progressive use of Hindi. directives with regard to reservation of posts for SCs/STs/OBCs.3. During the calendar year 2009. In order to intensify the progressive use of Hindi. Two Ambulances are available at Yard Dispensary round the clock for patients use.

e. The participants were awarded with prizes. Hindi Newspaper reading was organized in the Company.To encourage the employees to read Hindi books.1. It tries to ensure integrity among the company's officers and promotes transparency and fairness in various activities of the company such as procurement. It strives for transparency in decision making. One Functional Director i. The company adheres to good corporate practices and is constantly striving to adopt the best practices. As per the Articles of Association of the Company. Director (Finance & Commercial). CORPORATE GOVERNANCE REPORT PHILOSOPHY ON CORPORATE GOVERNANCE It is constant endeavour of Hindustan Shipyard Limited to give maximum thrust for transparency and fairness in all spheres of business activities. on the occasion of Hindi Day on 19th September. 22. ACTIVITIES OF VIGILANCE DEPARTMENT The Vigilance Department acts as an arm of the Central Vigilance Commission in the Company. which formulates strategies.1 Composition of the Board The Company is managed by the Board of Directors. Two Part-time Government Directors and One part-time non-official Director (Independent Director) 17 . 1988 pertaining to Conservation of Energy. in which officers as well as employees participated enthusiastically. 24. translation. competitions in Hindi Typing. CONSERVATION OF ENERGY Information required by the Companies (Amendment) Act. 2010. 2009. Vigilance Awareness Week was observed between 03-07 November. An RTI portal in the Company's website is being maintained to provide the requisite information. RTI request and Appeal Management Information System (RTI-MIS) is being implemented in accordance with the direction of Central Information Commission. adequate disclosures and legal compliances. a separate Hindi Library has been set up. accountability. As on 31st March. the Board of Directors of the Company comprised a full time Chairman-cum-Managing Director. integrity. All purchase & outsourcing tenders are placed on company website for transparency. 2005 is being implemented in the Company and the required infrastructure has been put in place. 2009. Purchase & Outsourcing is being done through ERP & the purchase procedure approved by the Board complies with CVC guidelines. On the occasion of Hindi fortnight observed from 1st to 14th September. 23. IMPLEMENTATION OF RIGHT TO INFORMATION ACT.1 BOARD OF DIRECTORS 25. policies and reviews its performance periodically. Technology Absorption and Foreign Exchange earnings and outgo is given in ANNEXURE-'5' to this Report 25. HSL philosophy of Corporate Governance is based on the principles of honesty. All necessary information as per the provisions of RTI Act 2005 are being furnished to information seekers regularly. essay writing. 25. 2009. 2005 As per the directives of the Govt. of India. the number of Directors shall not be less than four and more than fourteen.. Periodical Reports on the progress of implementation of the Act and reports are being submitted to statutory authorities/Government. recruitment etc. the RTI Act.

six Board Meetings were held on 9th April.3 Composition and Attendance The Composition of the Board.V. of India. Ministry of Defence with effect from 22nd Februray. 29th December.1. Vineet Garg. Gyanesh Kumar. 2010 25.K. T. IAS and Dr. Rakesh Mahajan.Kumar. 2. Vineet Garg. IRAS Shri. whichever is earlier. 25.V. 2009 have ceased to be Directors on the Board with effect from 22nd February. of India. K. Rajneesh Gupta.Rao. N. IRTS Shri. T. Capt.2009.2009. 2010 Directors 6 6 6 2 2 3 3 1 1 6 6 2 2 2 2 2 1 Nil Yes Yes Yes Yes Yes Nil 1 3 3 1 Cmde Naresh Kumar. No remuneration is paid to the Part-time Official Directors by the Company.Kumar. Shri.K. Gyanesh Kumar.N.) Shri.K.2010. 3.1. IAS Dr. Directors have ceased to be Directors on the Board with effect from 16th July. P.N. of other Attendance Directorship Held during Attended at last AGM held as on the tenure of 31st March. 2009 and 6th August.1. N. K. VSM.Rao. IAS Shri. AVSM. IRTS who were appointed by the Govt. VSM Chairman & Managing Director Full-time Director Part-time Director (Independent) Part-time Govt.2009.2 Board Meetings The Board meets regularly and is responsible for the proper direction and management of the Company. IAS VAdm. details of attendance etc.Mohan Shri. During the financial year ended 31st March.4 Part-time Official Directors : Part-time Government Directors are nominated by Government of India as Directors. 18 .1. 2010. 10th November. Shri. Shri. 25.5 Part-time Non-Official Directors (Independent Directors) The part-time Non-Official Directors (Independent Directors) are appointed by the Government of India as Directors for a period of 3 years from the date of assumption of charge or until further orders. AVSM. are as under: Name of the Directors Category of Directorship No. 19th June.2010. IAS and VAdm.R. of Meetings No. 2009 and 6th August.Brahmananda Reddy. Ministry of Shipping with effect from 16th July. IRAS part-time Govt. 21st August.Brahmananda Reddy.2009 and 20th March. IN(Retd.2009. Director -do-do-do-do-do- Note: 1. IAS & Shri. Rajneesh Gupta. 2009 respectively.V. VSM have been appointed as Part-time Government Directors by the Govt.25.R.

25.1.6 Constitution of the Audit Committee a) Audit Committee Composition The Composition of Audit Committee as on 31.3.2010 was as follows : Capt. P.V.K.Mohan Shri. Gyanesh Kumar Cmde. Naresh Kumar Chairman Member member Independent Director Government Director Chairman & Managing Director

b) Meetings of the Audit Committee During the year, Two meetings of the Audit committee were held on 19th June,2009 and 29th December,2009 and the attendance of the members of the Committee are given below : Name of the member No of meeting Held during the tenure of member 1 1 1 1 2

Attended 1 1 1 Nil 2

Shri. K.V.Brahmananda Reddy Shri. Rajneesh Gupta Dr. T.R.K.Rao Shri. Vineet Garg Cmde. Naresh Kumar 25.2 STATUTORY AUDITORS

M/s. G.R.Kumar & Co., Visakhapatnam has been appointed as Statutory Auditors of the Company for the financial year 2009-10 by the C & AG as per Section 619(2) of the Companies Act,1956. Replies of Board of Directors on the observation of Statutory Auditors on the accounts of the Company for the year ended 31st March,2010 are given in ANNEXURE-6. 25.3 FEES TO STATUTORY AUDITORS The fee payable to the Statutory Auditors for the year 2009-10 was Rs.1,40,000/-(previous year Rs.1,40,000/ -) exclusive of out-of-pocket expenses. 25.4 GENERAL BODY MEETINGS Particulars of the Annual General Meetings of the Company held during last 3 years: Year 2006-07 2007-08 2008-09 Date 21-09-2007 26-09-2008 22.09.2009 Time 11.00 A.M. 11.30 A.M. 04.00 P.M. Location Regd. Office, New Delhi Transport Bhavan, New Delhi Transport Bhavan, New Delhi

19

25.5

DISCLOSURES As per the disclosures given by the Directors of the Company, there were no materially related party transactions that have potential conflicts with the interests of the Company at large.

26.

PARTICULARS OF EMPLOYEES During the year 2009-10, there was no employee, who drew remuneration of Rs.24 Lakhs or more per annum or Rs.2 Lakhs per month. Hence, information as required under Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Amendment Rules 2002, is 'NIL'.

27.

DIRECTORS' RESPONSIBILITY STATEMENT Pursuant to Section 217(AA) of the Companies (Amendment) Act, 2000 the Directors' Responsibility Statement is given as under:i) That in the preparation of the Annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

ii) That the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are 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 or loss of the company for that period; iii) That the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; iv) That the Directors had prepared the Annual Accounts on a going concern basis. 28. ACKNOWLEDGEMENTS Your Directors place on record their gratitude and appreciation for the assistance, co-operation and guidance received by the Company from various Ministries of the Government of India especially the Ministry of Defence, Department of Defence production, the Ministry of Shipping, the Indian Navy, Department of Public Enterprises for their help and administrative support, Indian Coast Guard, M/s Oil & Natural Gas Corporation Ltd., M/s Good earth Maritime Limited, Greater Visakhapatnam Municipal Corporation, the Visakhapatnam Port Trust, Controller of Defence Accounts (Navy), Government of Andhra Pradesh, the Department of Customs, Income Tax, Excise, Service Tax and Sales Tax. The Directors also acknowledge their gratitude to the clients who have extended patronage to the Company. Your Directors also place on record their appreciation for the assistance extended by the Company's Bankers viz. Indian Bank, State Bank of India, the valuable advice rendered and co- operation extended by the Auditors, M/s G.R. Kumar & Co., and Internal Auditors M/s Rao & Shyam and the officers and staff of the Principal Director of Commercial Audit and Ex- officio Member, Audit Board, Hyderabad and their Headquarters. Your Directors also have pleasure in placing on record their appreciation for the devoted efforts put in by the Company's employees at all levels, significantly improving the Company's performance. FOR AND ON BEHALF OF THE BOARD OF DIRECTORS

Place: New Delhi, Date: 19-08-2010
20

Cmde. NARESH KUMR, VSM, IN(Retd.) Chairman and Managing Director

Annexure -1 COMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA UNDER SECTION 619(4) OF THE COMPANIES ACT, 1956 ON THE ACCOUNTS OF HINDUSTAN SHIPYARD LIMITED, VISAKHAPATNAM FOR THE YEAR ENDED 31st March, 2010. The preparation of financial statements of Hindustan Shipyard Limited, Visakhapatnam for the year ended 31 March 2010 in accordance with the financial reporting framework prescribed under the Companies Act, 1956 is the responsibility of the management of the Company. The statutory auditor appointed by the Comptroller and auditor General of India under Section 619(2) of the Companies Act 1956 is responsible for expressing opinion on these financial statements under Section 227 of the Companies Act, 1956 based on the independent audit in accordance with the auditing and assurance standards prescribed by their professional body, the Institute of Chartered Accountants of India. This is stated to have been done by them vide their Audit Report dated 13 August 2010. I on the behalf of the Comptroller and Auditor General of India have conducted a supplementary audit under Section 619(3) (b) of the Companies Act, 1956 of the financial statements of Hindustan Shipyard Limited, Visakhapatnam for the year ended 31 March 2010. This supplementary audit has been carried out independently and is limited primarily to inquiries of the statutory auditor and company personnel and a selective examination of some of the accounting records. In view- of the revisions made in the financial statements by the management, as a result of my audit observations highlighted during supplementary audit as indicated in the Note No. 19 of the Notes forming part of Accounts (Schedule No. 18 B), I have no further comments to offer upon or supplement to the Statutory Auditors’ Report, under Section 619 (4) of the Companies Act, 1956.

For and on the behalf of the Comptroller and Auditor General of India

Sd/(DOLLY CHAKRABARTY) Principal Director of Commercial Audit & Ex-Officio Member, Audit Board, Hyderabad Place: Hyderabad Date: 17 August 2010

21

Classification of Post/ Services Scheduled Tribes Total Number Scheduled Castes of Posts filled Posts Posts Posts Posts during the Reserved Filled Reserved Filled year. 1961 FIXED TERM CONTRACT : GROUP "A" GROUP "B" GROUP "C" GROUP "D" (Excluding Safaiwala) GROUP "D" Safaiwala 14 20 151 3 3 22 5 4 21 1 2 9 1 2 7 - 22 .Annexure -2 PARTICULARS OF RECRUITMENT MADE DURING THE CALENDAR YEAR 2009 AND THE NUMBER FILLED BY MEMBERS OF SCs/STs. 19 21 3 3 3 4 1 2 1 2 Reason for shortfall and steps taken to improve the Position - PERMANENT : GROUP "A" GROUP "B" GROUP "C" GROUP "D" (Excluding Safaiwala) GROUP "D" Safaiwala GROUP "D" (under Apprentices Act.

2010.Annexure -3 POSITION REGARDING REPRESENTATION OF SCHEDULED CASTE AND SCHEDULED TRIBE IN VARIOUS CATEGORIES OF POSTS AS ON 1st JAN 2009 AND 1ST JAN. 1961) FIXED TERM CONTRACT : GROUP “A” GROUP “B” GROUP “C” GROUP “D” (Excluding Safaiwala) GROUP “D” (Safaiwala) 31 12 491 2 2 104 1 34 46 31 614 7 6 140 2 2 33 1 1 1 156 289 1740 514 82 28 59 224 90 82 14 25 53 22 141 290 1748 460 78 29 57 220 85 78 13 28 53 14 - 23 . Classification of Post/ Services As on 1st January 2009 Total Scheduled Scheduled Strength Castes Tribes As on 1st January 2010 Total Scheduled Scheduled Strength Castes Tribes PERMANENT : GROUP “A” GROUP “B” GROUP “C” GROUP “D” (Excluding Safaiwala) GROUP “D” Safaiwala TEMPORARY : GROUP “A” GROUP “B” GROUP “C” GROUP “D” (Excluding Safaiwala) GROUP “D” Safaiwala GROUP “D” (under Apprentices Act.

48 10.12 3 5 2 11 6. Ex.62 0.24 1.servicemen Number % Women employees Number % PERMANENT : GROUP “A” GROUP “B” GROUP “C” GROUP “D” (Excluding Safaiwala) GROUP “D” Safaiwala GROUP “D”(Under Apprentices Act.52 15.3 28.1961) FIXED TERM CONTRACT FOR TWO YEARS : GROUP “A” GROUP “B” GROUP “C” GROUP “D” (Excluding Safaiwala) GROUP “D” Safaiwala 46 32 602 12 25 9 54.67 7.83 3. Classification of Posts/Services Total Strength.33 91.Annexure -4 REPRESENTATAION OF EX-SERVICEMEN IN GROUP "C" AND "D" AND NUMBER OF WOMEN EMPLOYEES AS ON 1st JANUARY 2010.86 1.66 141 290 1748 460 78 5 15 6 3.26 - 24 .54 0.30 8 21 32 16 8 5.

879 Rs.12 NIL NIL NIL N.Annexure -5 INFORMATION AS PER SECTION 217(1)(e) READ WITH THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF DIRECTORS) RULES 1988 AND FORMING PART OF THE DIRECTORS' REPORT FOR THE YEAR 2009-10 CONSERVATION OF ENERGY a) Energy conservation measures taken 1. Running of heavy loads like Air Compressors are restricted to minimum. Electricity a) Purchased units Total Amount Rate per Unit b) Own generation Coal Furnace Oil Consumption per unit of production Current Year 12. 3. being NIL implemented for reduction of consumption of energy. 25 . d) Particulars with respect to conservation of energy : FORM–A Power and Fuel Consumption 1.4. if any.55. b) Additional investments and proposals.283 Rs. c) Impact of the measures at (a) & (b) above for Despite increase in turnover & productivity a reduction reduction of energy consumption and consequent of 6.5.24. 4.A 2.09 NIL NIL NIL N. 2.016 Rs.86.100 units during the year 2009-10.5. Switching off Plant & Machinery when not in use. impact on the cost of production of goods during the year 2009-10.730.41.644.4. 3. Reduction in lighting to optimum levels.A Previous Year 12.17. Operation of Distribution Transformer around 70% loading by turning off during OFF Peak Hours.900 Rs. 4.

Specific areas in which R&D was carried out • In house Designs development for 10 Tons Bollard Pull Tug. FOREIGN EXCHANGE EARNINGS & OUTGO : Nil - C. Benefits derived as a result of the above R&D 3. RESEARCH & DEVELOPMENT 1.59 Crores Rs. ii) Recurring (Revenue) B. 4.FORM–B A. 2.148. b) Total Foreign Exchange used and earned: USED : a) Material procurement b) Others Total EARNED : Rs. Electrical and Outfit wings of Drawing & Design Office with CAD/ CAM wing is being taken up shortly. • Strengthening of Design infrastructure by adding skilled designers and arranging training to personnel. ADAPTATION AND INNOVATIONS Inclining experiment conducted for 53K Bulk carrier with liquid transfer method to cut down handling time in the solid weight shifting. • Development of tailor-made forms of existing designs for 25 tons and 50 tons Bollard Pull Tug for Indian Navy.422. 500 Ton fresh water Barge. • LAN connectivity of Engineering.20 Crores Rs. • TECHNOLOGYY ABSORPTION. Offshore Patrol Vessels.406.79 Crores Rs. 16. a) Activities relating to export Initiatives taken to increase export market for products and services and export plans.93 Crores 26 . Expenditure on R&D i) Capital. Future Plan of Action • Saving in Design cost and time. 200 Ton Non-propelled Barge and 200 Ton self-propelled Barge and Ammunition Cum Torpedo Cum Missile Barge by using TRIBON-M3 software.

19th August. NARESH KUMAR.11 of Schedule 18(B). 1 Observation Reply 5(j)(i) Non-provision of interest on term loan This has been adequately dealt in notes forming part from State Bank of India amounting to Rs. No.5 of Schedule 18(B).63 lakhs of accounts vide Note No.11018.) Chairman & Managing Director 27 . lakhs 2 5(j)(ii) Non-provision for write off of Deferred This has been adequately dealt in notes forming part Tax Asset amounting to Rs. IN(Retd. For and on behalf of the Board of Directors New Delhi.2010 Cmde. VSM.59025 of Accounts vide Note No. Sl.Annexure -6 OBSERVATIONS OF THE STATUTORY AUDITORS ON THE ACCOUNTS OF THE COMPANY FOR THE YEAR ENDED 31ST MARCH 2010 AND THE REPLIES OF THE BOARD OF DIRECTORS.

5. 236. 2. Hyderabad. except paragraph (j). Our responsibility is to express an opinion on these financial statements based on our audit. New Delhi. c) The Balance Sheet and Profit and Loss Account dealt with by this report are in agreement with the books of account. 2010. 3. Kumar & Co. increase in inventories by Rs. as required by law have been kept by the Company so far as appears from our examination of such books. We have conducted our audit in accordance with auditing standards generally accepted in India. we report that: a) We have obtained all the information and explanations. 44. As required by the Companies (Auditor’s Report) Order. These financial statements are the responsibility of the Company’s management.48 lakhs and increase in current labilities by Rs.96 lakhs. 1956. 46. Audit Board. 4. The accounts of the Company for the year. 2003 issued by the Central Government of India in terms of sub-section (4A) of Section 227 of “the Companies Act. we set out in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said order. b) In our opinion. 1956” of India (the Act) and on the basis of such checks as we considered appropriate and according to the information and explanations given to us. An audit also includes assessing the overall financial statement presentation.31 lakhs respectively. on a test basis. The Profit & Loss Account for the year ended on that date annexed thereto and cash flow statement for the year ended on that date. We have audited the attached Balance Sheet of Hindustan Shipyard Limited (“the Company”) as at 31st March. The said revision has resulted in decrease of profit by Rs.64 lakhs on account of decrease in turnover by Rs. 92. These Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material statement. as approved by the Board of Directors of the Company and Certified by us on 21st June 2010. 298.24 lakhs decrease in other current assets by Rs. 2. and decrease in material consumption and Depreciation by Rs. increase in capital work in progress by Rs. 331.236. which to the best of our knowledge and belief were necessary for the purposes of our audit.65 lakhs. d) In our opinion the Balance Sheet and Profit and Loss Account dealt with by this report comply with the accounting standards referred to in Sub-Section (3c) of Section 211 of the Companies Act.71 lakhs. 28 . Further to our comments in the Annexure referred to in paragraph 3. have been revised in the light of provisional comments made by Member. evidence supporting the amounts and disclosures in the financial statements. We believe that our audit provides a reasonable basis for our opinion. proper books of account. Chartered Accountants AUDITOR’S REPORT The Members of Hindustan Shipyard Limited.R. 32.G. decrease in fixed assets (Net Block) by Rs.24 lakhs and by Rs. An audit includes examining.19 lakhs. e) We have placed reliance on technical/commercial evaluation by management in respect of valuation of ship-building under construction and income accrued in respect of ship repair and submarine retrofit activities and provisions towards related sub-contract and off-loaded jobs at the end of the year. 1.

811. the said accounts give the information required by the Companies Act. of the Loss for the year ended on that date. Had the company provided for Interest on term loan from SBI and write off the Deferred Tax Asset to the profit and loss account the present profit of Rs. in case of the cash flow statement.025 lakhs on term loan as confirmed by State Bank of India as on 31.) resulting in undersatatement of loss (before prior period adjustments and taxation) by Rs.. 59. 59. G.018. 20.969 lakhs. 3 of schedule 18B.20 lakhs express a true and fair view.63 lakhs. a. 11. c. The said matters stated therein are all sub-judice and are yet to attain finality. 1. in the manner so required and subject to the following (i) Non-provision of interest of Rs. 1956.007. 004941S) Sd/(P. of the cash flows for the year ended on that date. In our opinion and to the best of our information and according to the explanations given to us. Chartered Accountants (Firm Regn No. j) (ii) Non-provision for write off of Deferred Tax of Rs. 11.43 lakhs would have been converted into a loss of Rs. 232. 2003 issued by Department of Company Affairs. 69. For G.03.Vikram) Partner Membership No.S.2010. (iii) The provisions of Section 274(1)(g) of the Companies Act. 2010.018. Note 4 of schedule 18B regarding disputed sales tax demand of Rs 500 lakhs. Government of India. Kind attention is drawn to note 18 of schedule 18B.63 lakhs (stated in note 11 of schedule 18B.829(E) dated October 21. 1956 are not applicable to the company in terms of Notification No.2009 and invocation of Government of India guarantee by State Bank of India (refer note 5(b) of schedule 18B). 216542 Place : Visakhapatnam Date : 13th August. Kind attention is invited to note no 1(d) & 1(e) of schedule 18B. b.R. wherein details of various demands and claims totaling to Rs. regarding non receipt of letters of balance confirmation from various customers.09.025 lakhs.f) g) h) i) Kind attention is invited to note no. in the case of the Profit and Loss account. towards non provision of arrears in respect of wage revision of staff and workmen.75 lakhs was not provided in the books of account and the same was disclosed under contingent liability. We further draw your kind attention to the expiry of Government of India Guarantee on 30. wherein provision for liquidated damages in respect of 5 no’s Inshore Patrol Vessels which are under construction for Indian Coast Guard to an extent of Rs.(as stated in note 5(a) of schedule 18B) resulting in undersatatement of loss (before prior period adjustments and taxation) by Rs. in conformity with the accounting principles generally accepted in India. contested by the company before different judicial and appellate authorities and arbitrations are given.R Kumar & Co. 2010 29 . in the case of the Balance Sheet of the state of affairs of the Company as at 31st March. Kind attention is drawn to note no 6 of schedule 18B.

(c) & (d) of clause (III) of paragraph 4 of the order are not applicable. which are required to be entered in the register maintained under the section. 1956 in respect of the business activities carried out by the Company. 1956. is reasonable having regard to the size of the Company and the nature of its assets. b) c) ii a) b) c) iii a) b) iv In our opinion and according to the information and explanations given to us.. On the basis of our examination of the records of inventory. 1956. us. subclauses (f) & (g) of clause (iii) of paragraph 4 of the Order are not applicable. service tax. in our opinion. the company is regular in depositing with appropriate authorities undisputed current statutory dues including provident fund. a) According to the information and explanations given to us there are no contracts or arrangements referred to section 301 of the Companies Act. Accordingly sub-clause (b). excise duty. The discrepancies noticed on such verification between the physical stocks and the book records were not material. or other parties covered in the register maintained under section 301 of the Companies Act. there are adequate internal control systems commensurate with the size of the company and the nature of its business with regard to purchase of inventory. According to the information furnished to. fixed assets and sale of goods and services.or unsecured to companies. quantitative details for user department.wise consumption of steel are not available for reconciliation of steel consumption. During the course of our audit. wealth tax. yet in our opinion the same needs to be strengthened with respect to Scope. firms. no major weakness has been noticed in the internal control systems. or other parties covered in the register maintained under section 301 of the Companies Act. income tax. including quantitative details of fixed assets. which is commensurate with its size and nature of its business. The procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. sales-tax. the provision of the sub-clause (b) of clause (v) of paragraph 4 of the order is not applicable to the Company. firms. Report Content etc. The fixed assets have been physically verified by the management during the year in accordance with a phased programme of verification which. The Fixed Assets disposed off by the Company during the year do not form a substantial part thereof Physical verification of inventory has been conducted during the year by the management at reasonable intervals. 30 viii ix . However. we are of the opinion that the Company is maintaining proper records of inventory. maintenance of cost records is not required under section 209(1 )(d) of the Companies Act.ANNEXURE TO THE AUDITOR'S REPORT REFERRED TO IN PARAGRAPH 3 OF OUR REPORT OF EVEN DATE i a) While the Company has maintained proper records showing full particulars. secured or unsecured from companies. customs duty. some of the fixed assets were not readily identifiable with the plant identification numbers in the register. According to the information and explanations given to us. The Company has not granted any loans either secured. v b) vi vii The Company has not accepted any deposits from public. Accordingly. Coverage. Accordingly clause (VI) of paragraph 4 of the order is not applicable Although the Company has an internal audit system. cess and other material statutory dues applicable to it. The Company has not taken any loans. a) According to the records of the Company. Accordingly. 1956. employees state insurance. no material discrepancies have been noticed on such verification.

c) x xi The Company has accumulated losses which are more than fifty percent of its net worth. the Company is not a chit fund or a nidhi/mutual benefit fund/society. the Company has not raised money by Public issue. service tax. we report that no funds raised on short term basis have been used for long term Investment. thereon in respect of customs duty payable on Import of materials for construction of wellplatforms. Beside it has incurred cash loss in the financial year covered by our audit and the immediately preceding financial year. Accordingly clause (xix) of paragraph 4 of the Order is not applicable During the year. According to the information and explanation given to us. Accordingly the clause (xv) of paragraph 4 of the order is not applicable. debentures and other instruments. no fraud on or by the Company has been noticed or reported during the course of our audit.546 lakhs.498. Accordingly the clause (xiii) of paragraph 4 of the order is not applicable. Excise Duty and Cess.. xii xiii xiv xv xvi xvii xviii During the year. Accordingly clause (xii) of paragraph 4 of the order is not applicable. The Company has not given any guarantee for loans taken by others from banks or financial institutions. 2010 (P. cess and other material statutory dues applicable to it were in arrears as at 31st March. the Term Loans have been applied for the purposes for which they were raised.3.22 lakhs together with interest and penalties. In our opinion. excise duty . 004941S) Sd/Place : Visakhapatnam Date : 13th August. which is subject to the approval of Government of India. 139. Visakhapatnam. 2010 for a period of more than six months from the date they became payable except an amount of Rs. Accordingly the clause (xx) of paragraph 4 of the Order is not applicable. except disputed central excise duty of Rs. The Company has not defaulted in payment of any loan installment or interest in respect of Term Loans from financial institutions and banks. 2010. securities. Vikram) Partner Membership No.46 lakhs (and interest thereon) pending before the Sales Tax Appellate Tribunal. the Company is not dealing in or trading in shares.:216542 31 . 128 lakhs pending before the Hon'ble High Court of Andhra Pradesh.R KUMAR & Co. (Firm Regd No.4571 lakhs. Wealth Tax. In our opinion. Accordingly the clause (xiv) of paragraph 4 of the order is not applicable. xix xx xxi The Company has not issued any debentures so far. The Company has not granted any loans or advances on the basis of security by way of pledge of shares. Customs Duty. Sales Tax. except in case of term loan from State Bank of India with an outstanding balance of Rs. wealth tax. According to the information and explanations given to us and on overall examination of the Balance Sheet of the Company. In our opinion. Chartered Accountants. Accordingly the clause (xviii) of paragraph 4 of the Order is not applicable. the Company has not made any preferential allotment of shares. For G. As at 31st March. customs duty. debentures and other securities. sales tax. which have not been deposited with the respective authorities-in respect of Income Tax. no undisputed amounts payable in respect of income tax. against which a compromise settlemsnt has been reached for an amount of Rs. 8.b) According to the information and explanations given to us. 25. Service Tax. and disputed sales tax of Rs. there have been no disputed dues.

ACCOUNTS .

SOURCES OF FUNDS (1) Share Holders’ Funds : (a) Capital (b) Reserves and Surplus (2) Loan Funds : (a) Secured Loans (b) Unsecured Loans Total APPLICATION OF FUNDS (1) Fixed Assets : (a) Gross Block (b) Depreciation (c) Net Block (d) Capital Works in Progress (2) Deferred Tax Asset (Refer Note No.85 515. No.72 9639.13 55914.88 14473. NARESH KUMAR.29 12909.32 11547.64 92947.21 99232. In lakhs I.07 (23291.76 11006.86) 98510. Chartered Accountants Firm Reg.R.45 6877.Kumar & Co.18 30199.64 92947.49 Net Current Assets (4) Debit balance in Profit and Loss account Total Significant Accounting Policies and Notes to Accounts18 Schedules 1 to 7 form an Integral Part of Balance Sheet For and on behalf of the Board of Directors Sd/RAKESH MAHAJAN Director (Finance & Commercial) Sd/INAITULA BAIG Company Secretary Place : Visakhapatnam Date : 13th August.60 14393. 2009 Rs.81 10592.46 99232. 21270.10 of Schedule 18B) (3) Current Assets. 2010 Rs.50 6824.Balance Sheet as at 31st March.49 20860.50 30208.83 12859.70 7 90317.15 1247.56 (18420.18 37215.004941S Sd/CA P Vikram (Partner) Membership No. 2010 33 Sd/Cmde.63 6 47889.22 9.28 13474.03 83329. 2010 Sch As at 31st March.73 103177.08 II. IN (Retd) Chairman and Managing Director As per our report of even date For G.61 6031.96 6903.59 99993. Loans & Advances : (a) Inventories (b) Sundry Debtors (c) Cash and Bank Balances (d) Other Current Assets (e) Loans and Advances Current Liabilties & Provisions (a) Current Liabilities (b) Provisions 1 2 3 4 5 30199.04) 98742.49 84756.22 9.05 8124.31 11722.09 3308.03 6387.02 76702.67 59383.20 11018. In lakhs Rs.48 16663. In lakhs As at 31st March. 216542 .79 69023.56 6354.

In lakhs Rs. In lakhs 39581. For and on behalf of the Board of Directors Sd/RAKESH MAHAJAN Director (Finance & Commercial) Sd/INAITULA BAIG Company Secretary Place : Visakhapatnam Date : 13th August. (1) (2) (3) (4) (5) (6) (7) 11 12 13 14 15 16 Sd/Cmde.50 As at 31st March.35 512. IN (Retd) Chairman and Managing Director As per our report of even date For G. 2009 Rs.88) 5443.67 1407.00 (426.55) 232.24 (3034.04 12693.27) 0.64 1000.79 5049. No.R.11 66912.65 574.39 (2867.95 34457. In lakhs 61896.00 0.004941S Sd/CA P Vikram (Partner) Membership No.31 9438. 216542 . 2010 Rs.36 55621.49) (14000. INCOME : (1) From Works & Other Services Less: Service Tax & VAT collections (2) Other Income Provisions with drawn (3) Accretion to /(Decretion) in Work in Progress Total EXPENDITURE : Materials Consumed Subcontract & Off-Loaded Jobs and Other Direct Expenses Pay and Benefits to Employees Other Expenses Interest & Finance charges Depreciation Provisions and Losses Less: Transfer to Other Accounts Profit/(Loss) Before Extraordinary & prior period Items III.00 8 II.08 431.21 1000.55 645.67) 28.73 55189.69 98742.55 3804. 2010 Sch I.29) 345.82 (1052. NARESH KUMAR.95) 84741.70 67424.04 6210.77 (356.38 1555.79 (13672.27 2784.Kumar & Co.00 (3186. Prior Period Adjustments 17 Profit / (Loss) before taxation IV Provision for : (1) Fringe Benefit tax (2) Current Year MAT MAT liability written back Interest on MAT of earlier years (3) Deferred Tax (Asset) / Liability Profit / (Loss) after taxation Balance of Loss brought forward from previous year Balance of Loss carried over to next year Nominal value of equity share in Rupees Earnings per Share ( Basic & Diluted) in Rupees Significant Accounting Policies and Notes to Accounts18 Schedules 8 To 17 form an Integral Part of Profit and Loss Account.98 (3380.68) 3240.35 (8228.95 5241.80) 63877.13 692.03 6432. Chartered Accountants Firm Reg.43 98742.75 1866.82 12989.64 98510.05 3102.00 656.47 26466.08 46960. 2010 34 As at 31st March.00 (485) 8 9 16 10 59570.05 2325.15) 0.Profit and Loss Account for the year ended 31st March.

50 35 . 1.50 Addition during the year Rs. pursuant to contracts without payment being received in cash 30.1 SHARE CAPITAL Authorised 30.400.00 30. In lakhs Schedule .000 each fully paidup) Of the above shares.199. 2009 Rs.199. 2010 As at 31st March.Schedules forming part of the Balance Sheet as at 31st March. 2009 Rs.22 30. In lakhs Withdrawn As at during the year 31st March.1000 each (Previous year 30.1. In lakhs Rs.00 9. In lakhs As at 31st March.1000 each) Issued.40. 27. 2010 Rs.000 .000 each fully paid-up (previous year 3019922 equity shares of Rs. Subscribed and Paid-Up 3019922 Equity Shares of Rs. In lakhs 0. 2010 Rs.22 30.22 30.400.199.00 As at 31st March. In lakhs Schedule .Equity Shares of Rs.40.00 0.22 30.2 RESERVES AND SURPLUS Capital Reserve 9.285 equity shares were allotted as fully paid-up.199.000 shares of Rs.

As at 31st March.2004 {Including Rs.18 B) 6.03.467.080.5 of Sch.9423.82 25. 2009 Rs.907.82 25.00 8.436.67 lakhs)} Interest accrued and due on above Inter-corporate loans from various Port Trusts Term Loan from State Bank of India together with Interest accrued and due thereon ( Refer Note No. In lakhs Schedule .080.907.00 As at 31st March.06 6824.3 SECURED LOANS Due to Indian Bank in Term loan account Cash Credit account (Secured by Hypothecation of all the Fixed and Current Assets of the company) 9639.67 3. In lakhs Schedule .02 6172.09 2.4 UNSECURED LOANS Loans from Government of India : Received during 1-4-1995 to 31.052.546.13 As at 31st March.64 36 .052.00 55.125. In lakhs 5.914.892.9807. 2009 Rs.00 4.2004 Interest accrued and due on above Received since 01.07 2510.00 10.65 As at 31st March. 2010 Rs.383.00 59.27 2.04.70 9.672.00 lakhs with default amount repayable within one year (previous year Rs.73 9.314. In lakhs 4.546.79 5. 2010 Rs.

62 4242.82 0.54 12274.78 Depreciation Net block For the On sales/ Up to As at As at year Adjust31.40 507.85 17.03 13786.49 Wet basin 342.17 402.29 0.70 Lakhs (net block) for which lease deeds are expired for lands to the extent of 6.00 1213.92 Intangible Assets 0.96 33.00 801.02 545.51 2.00 0.33 950.72 0.92 8031.49 342.14 35.05 Housing Estate.05 4.00 0.00 275.11 10.71 156.74 16.16 0.09 during justments 31.00 20.00 0.61 184.41 0.00 0.88 27.67 0.00 0.28 27.14 2518.04 46.87 19214. 80.61 26.31 34.00 391.02 0.45 Note:Buildings / structures on lease hold lands includes Rs. the respective lease rents are claimed by Visakhapatnam Port Trust and paid by Hindustan Shipyard Ltd.41 7.00 0.62 375.00 5.87 122.00 0.00 803.Schedule .58 97.03.99 0 0. Hospital & Other equpt.32 28.91 34.74 8.As on Up to 31.77 156.39 0.48 6387.37 254.27 1.66 1.72 0. .00 0.00 2.73 499.03.55 259.03 0.54 Plant & Machinery 12234.76 2381.48 645.23 2324.17 Drydock 402.92 8363.03.00 605.00 0.47 Building dock 3468.2 acres.15 203.00 4.65 Tribon Software for shipbuilding Total Previous year 139.00 29.75 692.15 6387.00 0.00 0.92 0.03.64 55. In lakhs 37 Particulars 1 0.23 b) On leasehold land 1982.00 0.47 42.35 178.00 0.26 1.85 5427. 254.00 0.67 509.00 0.78 62.03.80 17.47 14473.15 Berth for well platforms 203.92 342.22 0.47 3469.78 139.09 the year during the year 2 3 4 5 6 1.62 13.98 44.43 1363.43 1334.94 95.00 0.44 0.85 76.21 368.02 342.64 70.48 0.00 0.03.30 1653.63 0.41 0 1.00 6877.00 723.00 0.09 ments for the year 7 8 9 10 11 Tangible Assets Land 1.04 46.60 0.45 0.09 6.40 267.85 Gross Block As on Additions Sales /Ad.10 31.09 55.55 26.20 0.34 14473.82 14393.62 3871.38 137.54 176.00 9. However.10 31.00 2.00 0.64 265.98 Electrification of Buildings Elec.57 Boats & launches 35.36 13.72 Buildings: a) On freehold land 5.80 960.00 0.69 Roads & Compound walls 499.57 35.00 1.00 0.09 Furniture 55.00 0.00 725.84 0.00 0.00 0.65 290.85 0.00 840.60 0.5 Fixed Assets Rs.50 Railway sidings 28.57 6.2010 31.82 20860.80 648.82 21270.72 0.00 1.60 20860.00 341.31 6.78 Motor vehicles 55.44 139. Installations 605.31 277.94 82.00 0.70 Slipways & Fitout warf 545.80 25.41 0.71 1087.81 1.00 219.

48 18.018.76 2.936.709.209.00 6031.81 243.65 104.018.432.82 29.06 6222.289.27 0.81 17.44 10293.26 38. equipment and other Materials Timber Materials-in-Transit and under inspection Steel Cut Pieces on shop floor and Scrap (As per technical estimate) As at As at 31st March.81 2.89 8.50 2481.61 2.08 37.620.27 9. 2009 Rs.54 13.90 21.6 CURRENT ASSETS INVENTORIES (As valued and certified by the management) Steel Stores & Spares .09 6029.96 223.31 Less : Provision for : Obsolescence of materials Difference between Bin cards & PSL balances Work-in-Progress: Ship Building under Construction (b) SUNDRY DEBTORS (Unsecured) Debts outstanding for more than 6 months: Considered good Considered doubtful Other debts.02 11547.12 7882.56 38 .386.47 17454.722.32 2.702.01 16999.00 1.889.31 1251.22 51.78 2.088.53 2. considered good Less: Provision for doubtful debts (c) CASH AND BANK BALANCES Cash on Hand Balances with scheduled banks in: Term and other Deposit accounts Current accounts In Post Office Savings Bank account 19.49 4.953.28 47.215.006. 2010 31st March.451. In lakhs 4156.89 11.04 8569. In lakhs Rs.23 20.32 0.Rs.180.86 223.29 4430.50 1.740.702.89 4.74 1598.77 28.25 130.61 12.006.49 11. In lakhs Schedule .

572.95 225.79 27. 2010 31st March.139.915.508.268.Rs.286.354.21 (5.317. Port Trust and Other Government authorities Less : Provision for Doubtful Advances Schedule .284.01 1.78 6. Liabilities : Sundry Creditors Less: Adjustable to SR Advances (contra) Less : Directly receivable from third parties Contra vide Schedule 6(d) Guarantee Fees payable to Government of India Interest accrued but not due on unsecured loans Advances from customers including interest thereon Other Liabilities Security Deposits from Employees.474.52 466.22 164.56 13.325.49 25.909.73 18.74 183.59 39 .80) 759.62 3.519.217.57 12.26 9.006.903.92) 793.37 13.93 34.774.216.663.182.88 11.09 90.863.862. Ship Repairs & Submarine Retrofit activities Income Accrued in respect of Off-Shore Platforms Less : Directly Payable to Third Parties (Contra vide schedule 7A) LOANS AND ADVANCES Advances recoverable in cash or kind or for value to be received from : Employees Suppliers of materials & services Less: Adjustable to SR Liabilties (contra) Others Prepaid Expenses Income Tax deducted at source MAT Credit entitlement Balances with Customs. Contractors and Others Temporary overdraft from banks(representing cheques issued over and above the book balance) B.00 586.427.33 (e) 118. 2009 Rs.18 28. In lakhs Rs.292.00 83.45 50.726.70 362.37 6.00 308.92 5.60 564. Trainees.84 54.69 7.83 5.461.55 12.308.348.859.29 5.00 329.27 689.09 16.93 28.62 402.30 1.01 290.33 21.28 1. In lakhs 101.988.92 6.06 1.28 3.04 97.352.47 67.86 (50.980.487.76 7.80 11.28 0.7 CURRENT LIABILITIES AND PROVISIONS A.50) 146.29 0.50 13. In lakhs (d) OTHER CURRENT ASSETS Interest Accrued on term deposits Income Accrued in respect of Ship Building.57 97.94 11.139.48 4.80 5.62 11.445.917.58 399.02 27.25 5.39 6.55 13.778.36 5.22 2.325.801.67 1. Provisions for : Gratuity Leave Encashment Liquidated damages Future losses Contingencies Guarantee Repairs Income Tax As at As at 31st March.54 56.15 5.93 (402.329.105.

13 17.398.72 4.05 203.51) 101.604.10 ACCRETION TO/(DECRETION IN) WORK-IN-PROGRESS Closing work-in-progress: Ship Building under construction Opening work-in-progress: Ship Building under construction Accretion to/(Decretion in) work-in-progress 570.871.65 (35.10 1.89 432.39 884. stores & disposable materials Less: Excise duty & VAT Rent received Less: Service Tax Fines and forfeitures Miscellaneous Receipts Profit on sale of Assets Provisions of earlier years no longer required VAT refund Schedule .896.82 40.974.59 (5.09 3804.05 Schedule .93 231.Contractual Income .40 933.8 INCOME FROM WORKS AND OTHER SERVICES Income from: Shipbuilding Works .08 13574.88 39.98 79.00 730.79 4.80) 20006.83 232.38 24.Schedules forming part of the Profit and Loss Account for the year ended 31st March.931.65 5.360.54 151.28 20006.48 720.43 1713.51 61.53 14.581.Government subsidy Ship Repairs : Repair works Dry dock hire charges Wet basin hire charges Other services Submarine Retrofit 19. 2010 As at As at 31st March.73 588.01 9.31 25. 2010 31st March.08) 65.57 3240.93 12.36 458. In lakhs Rs.32 305.15 5.38 1480. In lakhs Rs.784. In lakhs Schedule .93 385.00 6432.51 25.751.33 74.81 0.08 (1052.65 18953.39 26. 2009 Rs.631.962.08 40 .78 390.9 OTHER INCOME Interest Received from banks & others (net of interest reimbursable to customers) Foreign Exchange variation Sale of scrap.

36 91.93 277.056.797.87 33. 2009 Rs.82 488.97 13.44 758.23 180.27 7.50 31.77 6.820.11 9.22 82.32 1.09 100.55 438.02 335.471.116.989.693.60 lakhs provision for Guarantee Repairs Schedule -13 PAY AND BENEFITS TO EMPLOYEES Salaries.31 175.83 1. Stipend etc.86 68. Allowances etc.16 559. Employees Welfare Expenses 9.71 2.457.83 3921.41 919.936.210.54 33.78 960.31 6.466.73 26.53 3. Wages.11 MATERIALS CONSUMED Steel Stores & Spares Timber Direct Materials. 2010 31st March.31 2111.335.30 871.90 34.290.473.69 12.41 77.As at As at 31st March.56 9.06 12. 73.112.187.04 41 .01 2.169. Wage revision arrears Contribution to Provident Fund and other funds Gratuity Leave Encashment Expenses on Training.763.701.269.04 Schedule -12 SUB-CONTRACTS & OFF-LOADED JOBS Sub contract & off-loaded job expenses in : Ship Construction Ship Repairs Submarine Retrofit Other Direct Expenses in : Ship Construction * Ship Repairs Submarine Retrofit Builders Risk Insurance in Ship Constuction * includes Rs..90 717. In lakhs Rs.03 2. Machinery & Equipment used in Ship Construction Shiprepair Submarine Retrofit Add: Stores procurement expenses 7.04 969.95 782.17 8.19 375. In lakhs Schedule .438.28 660.17 26.05 3.77 656.69 6.006.75 390.537.

54 0.57 2784.90 0.97 1.20 38.49 127. In lakhs 582.78 1.Rs.97 35.77 1.03 13.00 80. In lakhs Rs.95 42 .15 3102.98 30.10 22.13 830. 2009 Rs.70 990.16 2. 2010 31st March.20 111.28 208.76 35.92 48.83 43.74 500.73 0.00 452.06 24.09 125.61 53.79 24.48 49.59 0.72 0.59 24.14 0.00 573.83 1.22 71.88 47.70 120.33 120.60 99.14 OTHER EXPENSES Power and Fuel (net of recoveries) Water Charges (net of recoveries) Rates and taxes (including customs duty on scrap sales) Fire and Other Insurance Rent Repairs and Maintenance to : a) Plant and Machinery b) Buildings e) Other Assets Printing and Stationery Local conveyance charges Travelling Expenses Communication expenses Advertisement and Publicity Salaries and other Expenses of Customs Staff Demurrage Charges Directors' Fees and Expenses: A) Directors' Fees B) Travelling Expenses Auditors' Remuneration : Statutory Audit Expenses Other services Foreign Exchange variation Miscellaneous Expenses As at As at 31st March. In lakhs Schedule .82 2.49 93.09 12.36 0.00 593.17 28.62 676.

69 969.70 40.17 510.00 130.12 170.84 0.31 1.85 1.47 1008.13 0.92 510. 2010 31st March.00 1.55 3127.92 71.35 210.82 70.83 453.55 574.82 1.59 5241.61 49.00 332.59 192.Rs. In lakhs Schedule .03 43 .68 158.56 0.43 113.92 303.75 336. In lakhs 3213.555.95 0.15 INTEREST & FINANCE CHARGES Interest on : Government Loans Bank term loans & Cash Credit Inter-corporate loans from various Port Trusts Others Guanratee fees payable to Government of India Bank Charges Schedule-16 PROVISIONS AND LOSSES Provisions made : Obsolescence of Materials Reduction in SR Bills Assets written off Future losses Liquidated Damages Contingencies Doubtful Debts Losses : Reductions in SR Bills Bad debts written off On Sale of Assets As at As at 31st March.89 209.92 35.97 55.00 232.086.48 503.64 0.00 1.407.28 35. In lakhs Rs.36 Provisions withdrawn : Contingencies Future losses 0. 2009 Rs.00 1.555.866.92 0.57 5049.

84 346.20 1. 2009 Rs.00 7.43 8. In lakhs As at 31st March.23 7.00 1.641.00 45.30 5.00 0.18 17.29 239.27 10.56 0.89 0. In lakhs 0.42 355.73 0.461.Rs.72 84.443.21 5. In lakhs Schedule .98 44 . 2010 Rs.72 98.81 2.28 42.00 4.29 0.00 0.89 12.43 5.17 PRIOR PERIOD ADJUSTMENTS A INCOME Materials Demurrages Miscellaneous B EXPENDITURE SC Direct Expenses SR Direct Expenses RF Direct Expenses Pay revision arrears Materials & Freight Pay and Benefits Taxes & Duties Repairs and Maintenance Others As at 31st March.24 0.45 259.79 Net Expenditure / (Income) 345.

For the purpose of recognition of profit. Obsolescence is provided for on the basis of technical estimate. In respect of ships delivered during the year at the balance price including claims for extra works and cost escalation realisable from owners. ii) iii) a. 45 . Stage completion and Revenue received. FIXED ASSETS Fixed assets are stated at cost less accumulated depreciation. INCOME Income is recognised in accounts : A. ACCOUNTING POLICIES 1. taking into account the proportion that the contract cost incurred for work performed upto the reporting date bears to the estimated total contract cost for completion. 1956. duties. Spares and other stores are valued at Weighted Average Cost or net realizable value whichever is lower. Generally. which shall reach a minimum of 20% individually. b. incidental expenses relating to cost of acquisition (net of VAT). iii) Cost includes expenses of procurement including all taxes and duties other than VAT. revenues are recognized on accrual basis with provisions made for known losses and expenses. iv) In respect of Ship Building. Cost for the above purpose includes value of direct materials including Machinery and other ship borne equipment acquired for specific ship. direct labour. interest. i) In respect of ships under construction. 4. 2. direct expenses and general overheads excluding administrative overheads. The proportion that cost incurred to date bears to the estimated total cost of the contract. ACCOUNTING CONVENTIONS The financial statements are prepared under the historical cost conventions in accordance with Generally Accepted Accounting Principles in India and provisions of the Companies Act. weightage shall be given to the following three factors. Timber.Schedule – 18 Notes Forming Part of the Accounts for the year ended 31st March 2010 A. c. depreciation and overheads attributable to idle time. 3. INVENTORIES i) Steel. ii) Direct Materials and Stores items in offshore platform activities are valued at cost or net realizable value whichever is lower under specific identification and FIFO respectively. v) Scrap is valued at estimated realisable value. taxes. Cost of acquisition of Fixed Assets is inclusive of freight. interest during construction period to the extent approved and sanctioned by the Government and the cost of installation/erection as applicable. on the basis of percentage completion method. the uninstalled Machinery / Equipment acquired exclusively for the vessels is reckoned as Work-in-Progress at lower of cost or realisable value.

Price subsidy received / receivable from Government of India in respect of ships is considered as income on the basis of percentage completion of the respective ships. Income from other activities including ship repair and submarine refit activities is accounted for on accrual basis by adopting proportionate completion method. Unutilised grants are shown under Current Liabilities. DEPRECIATION Depreciation is provided for under straight-line method in accordance with schedule XIV of the Companies Act. Sales Tax and Service Tax and is net of Rebates and other Deductions under the respective contracts. Class I Non-Factory buildings Plant and Machinery Furniture and Fixtures Motor Vehicles Dry Dock/Wet Dock and Slipways Boats and Launches Life 33 years 20 years 58 years 19 years 29 years 7 years 50 years 20 years 2. in respect of assets capitalised on or after 01-04-1988. 8. ready for its intended b) c) 46 . Claims in respect of Insurance are accounted for on acceptance basis taking into account the acceptances received within 15 days of the end of the financial year. C. 5. 7. Class I Factory Buildings b. Buildings a. Depreciation on additions/disposals made during the year is charged prorata by grouping them on quarterly basis. 3. EXCISE DUTY Excise Duty wherever applicable is accounted for as and when the products are Cleared from the yard. In respect of assets capitalised prior to 01-04-1988 depreciation is provided under straight-line method at the rates worked out adopting the management’s estimates of useful lives of the respective assets as under: Name of the Asset 1. Income is inclusive of Excise Duty. Class II Factory Buildings c. 6.B. A qualifying asset is one that necessarily takes substantial period of time to get use. D. b) 6. 1956 as amended. 4. BORROWING COSTS a) Borrowing Costs relating to the acquisition/construction of qualifying assets are capitalised until the time all the substantial activities necessary to prepare the qualifying assets for their intended use are complete. GOVERNMENT GRANTS a) Grant-in-aid received from Government of India for implementation of Voluntary Retirement Scheme is matched with related costs through Profit and Loss Account. All other borrowing costs are charged to revenue. 5.

provision is fully made for such anticipated loss in accordance with AS 7 issued by the Institute of Chartered Accountants of India. Actuarial gain/losses. 47 . EMPLOYEE BENEFITS (i) Defined Contribution Plan Employee Benefits in the form of Employee Pension Fund is considered as Defined Contribution plan and the contributions are charged to the Profit & Loss Account of the year when the contributions to the said fund are due. is considered as Defined Benefit Obligation and is provided for on the basis of an actuarial valuation using the projected unit credit method as at the date of Balance Sheet. EMPLOYEE SEPARATION COSTS Compensation to Employees who have opted for Retirement under the Voluntary Retirement Scheme of the Company is charged to the Profit and Loss account in the year of exercise of option. Gains/losses arising out of fluctuations in exchange rates both on settlement and on conversion of liabilities are adjusted to revenue.9. 12. PROVISION FOR FUTURE LOSSES In the case of Ship Building activities where current estimates of total contract cost exceeds the expected realisable value. 13. DISCLOSURE OF EXPENDITURE All items of expenditure are stated under nominal heads at gross figures and the aggregate amount allocated/ transferred to other heads on functional basis is shown separately except direct labour. Employee Benefit in the form of Employee Provident Fund is considered as Defined Benefit plan and the contributions are charged to the Profit & Loss Account of the year when the contributions to the said fund are due. 11. 10. (iii) Other Long Term Benefits Long-Term Compensated Absences are provided on the basis of an actuarial valuation using the Projected Unit Credit Method as at the date of Balance Sheet. FOREIGN EXCHANGE TRANSACTIONS Assets and liabilities in foreign currencies are translated at rates of exchange prevailing as on the Balance Sheet date. are immediately recognized in the Profit & Loss Account. if any. net of grant in aid received / receivable in the year of payment. (ii) Defined Benefit Plan Retirement Benefit in the form of Gratuity.

51 2081.48 170. appellate authorities etc and 13. Total e.71 0 189.78 144. Claims against the company. which are under arbitration and not provided for: authorities.39 144. Estimated amount of contracts remaining to be executed on capital account and not provided for d. 1999. 1952 iii) (a) ESI dues in respect of ‘C’ series workmen for the period from 1-4-1998 to 30-9-2000 together with interest thereon (Rs.51 114.44 3575.78 66.24 180. contested u/s 7(i) of EPF & MP Act.. NOTES ON ACCOUNTS (Rs in lakhs) 2009-10 2008-09 1. 1998 to Oct. Contingent liabilities a.B. iv) Central Excise duty on P-BDE jackets manufactured and delivered to ONGC v) Service tax demand in respect of INS Sindhukeerti vi) Demands of various suppliers of goods and services vii) Non Agricultural Land Assessment tax demands for the year 2000-01 viii) Demands in respect of service matters having financial impact.11 5680.46 2929. Irrevocable letters of credit outstanding 10583.80 48 .51 180. 1985 to March.54 52. 1993.66 212.6. contractors contribution for the period from April.24 114.54 52.00 4. not contested at various courts.69 b.64 lakhs paid under protest grouped under deposit recoverable) (b) ESI dues in respect of temporary workmen for the period from April.22 13544.49 62. Demands raised against the company by various provided for: i) Property tax on commercial complex for the years from 1984-85 to 1994-95 ii) Penal interest on belated remittances of Provident Fund contributions during the period from May 2002 to June 2005.39 13.30 272. Counter guarantees given to banks for guarantees issued on behalf of the company c.37 4.46 761.

00 129.00 ii) Claims of Essar Oil Limited (EOL) towards OPF works (net of provision made of Rs.769 lakhs).00 7961.75 0 4 5 .00 0 1007. 2 a) On rejection of it’s claims towards L.33 lakhs and counter claim of HSL on ONGC of Rs. iv) Recognition of income (net of provision) in earlier years towards mark-up on materials procured and works executed in respect of offshore platforms for ONGC.15 129. b) In respect of Vessel No. pending finalization of arbitration award. amounting to Rs 4659 lakhs and interest thereon of Rs 7614 lakhs respectively. VC 11116 and VC 11117 and the same is under arbitration. since the same is not applicable as per Contracts.00 2008-09 8032.39 18039.54 16791. a) SBI agreed to a compromise settlement in respect of the term loan given to the company.15 669. VC 11115. The amount agreed to be paid has since been provided in the books of account.4370. the Company has been advised by the Counsel that said demands and claims are not sustainable in law.. VC 11118 which was delivered during the year and VC 11136 to VC 11141 which are under construction.(Rs in lakhs) 2009-10 i) Counter –Claims of ONGC towards liquidated damages.) invoked the arbitration clause for the vessel No.1999.03. to be settled either in cash or in the form of GOI Bonds of 5 years for a total consideration of Rs. M/s Good Earth Maritime Ltd.25546 lakhs.D. penal interest and interest on interest in respect of construction of well platforms (net of provision) 8632. Total In respect of items mentioned under (d) and (e) above.39 669.L. Inshore Patrol Vessels which are under construction for Indian Coast Guard since HSL sought for extension of time for delivery of these vessels and the same is under consideration of Indian Coast Guard. ii) Recognition of income in earlier years towards escalation and extra jobs for VC 1120. (G. and other claims by HSL. 3 No provision is made towards Liquidated damages on 5 Nos.M. no provision towards of LD is made.54 10519. The State Government of Andhra Pradesh has agreed for a full and final settlement of sales tax arrears up to 31. pending finalization of arbitration. 49 8609. by payment of Rs 500 lakhs subject to finalization of financial restructuring package by GOI.

2009 since negotiations with the unions are in progress and financial impact there of is not determinable at this stage. pending with GOI. in view of the compromise settlement mentioned above).2010.(Rs in lakhs) 2009-10 which is included as financial assistance from GOI. in lakhs) 2009-10 2008-09 Employer’s Contribution to Pension Fund 198.68 194. the disclosure of Employee Benefits as defined in the Accounts Standard are given below: Defined Contribution Plan Contribution to Defined Contribution plan.09.65876.17332.10 is Rs. (As per the balance confirmation certificate issued by SBI the outstanding debit balance on this account as per their books as on 31. 2008-09 7.50 lakhs.18694. HSL requested GoI for arranging extension of the validity of the above GoI guarantee up to 31. which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. guarantee towards the above loan was expired on 30. 6 No provision is made in the accounts with regard to financial impact on wage revision in respect of Staff and Workmen due from 01. in the financial restructuring proposal made by the company. recognized as expense for the year are as under: (Rs.95 Defined Benefit Plan The employees’ gratuity fund scheme managed by a Trust is a defined benefit plan.03. The same is yet to be received. Accordingly. The obligation for leave encashment is recognized in the same manner as gratuity. Since the above said compromise offer is included in the Financial Restructuring. b) The validity of the Govt.12. 50 . The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method.01. As per Accounting Standard 15 ’Employees Benefits’. interest for the year ended 31-3-2010 amounting to Rs. this has not been considered by HSL in the accounts.50 lakhs and in this case there is an unapplied interest of Rs. However.00 lakhs has not been provided on the said loan.1732 lakhs and interest upto the end of the year ended 31-3-2010 amounting to Rs.2009 and SBI had invoked the GoI guarantee.

72 470.97 6009.45 49.10 730.01 51 .19) 246.11 (316.98 438. Expected return on plan assets Contribution Benefits paid Actuarial loss/(gain) on obligation (balancing figure) Fair value of Plan Assets as at the end of the period 2009 .88 Sick Leave (Unfunded) 0 0 470.47 (205.88 731.30 280.89 5216.89 86.70 1307.23 2008 .09 668.72 793.I.66 316.86 218.88 4681.45 392.61 380.90 70.72 294.54 151. (Previous year) Interest Cost Current Year (Previous year) Current Service Costs Current Year (Previous year) Benefits Paid Current Year (Previous year) Actuarial loss/(gain) on obligation Current Year (Previous year) Defined Benefit obligation at year end Current Year (Previous year) Gratuity (Funded) 5504.11) (205.10 53.88 6009.61 380.06 4774.47) 9.45 205.91 1080. Reconciliation of opening and closing balances of Defined Benefit obligation (Rs in Lakhs) Details Defined Benefit obligation at beginning of the year.88 Earned Leave Encashment (Unfunded) 1080.88 III Reconciliation of fair value of assets and obligations As at 31/03/2010 (Rs in lakhs) Details Fair value of plan assets Current Year (Previous year) Present value of obligation Current Year (Previous year) Amount recognized in Balance Sheet Current Year (Previous year) Gratuity Leave Encashment (Unfunded) 0 0 1307.11) 1.77 85.61 380.47) 147.72 II Reconciliation of opening and closing balances of fair value of plan assets (Rs in lakhs) Details Fair value of plan assets at beginning of the period.88 Sick Leave (Unfunded) 380.48 0 0 89.24 0 0 0 0 470.91 1080.63 (316.23 730.20 443.29 5504.88 60.88 1307.29 5504. Current Year.69 793.33 730.91 1080.93 (242.17) (225.46 366.

2010 8.17 Sick Leave (Unfunded) 89.00 10. The fact that Provident Fund element is also to be included while computing relevant salary for encashment of leave has been taken into account.00 84.28 Leave Encashment (unfunded) 151.30 31.D.20 574.45 49.03.00 31.54 0 0 246.50 Leave Encashment (Unfunded)(%) 01. Expenses recognized during the year (in the statement of Profit & Loss Account) (Rs in lakhs) Description Current Service Cost Current Year (Previous year) Interest Cost Current Year (Previous year) Expected return on plan assets Current Year (Previous year) Actuarial (gain)/loss Current Year (Previous year) Expenses recognized in the statement of P&L a/c Current Year (Previous year) V.98 438. Principal Actuarial Assumptions Gratuity (funded)(%) 01.40 100.IV.03.04.30 (60.89 86.2009 7.45) 145.24 VI.00 Discount Rate Salary escalation rate Attrition rate Expected rate of return on plan assets Salary escalation by taking into account inflation.66) (53.2009 7.40 82. 52 .20 17. Bonds of Term consistent with estimated term of the obligations.00 0.70 469.63 392.46 366. Investment Details (Percentage invested) Description GoI Securities Special Deposit Scheme Others (T.s) Total : Gratuity as on 31/03/10 0 16.34 6.34 6.17 969.00 1. Discount rate has been determined by reference to market yields on the Balance Sheet date on Govt. As per the enterprise’s accounting policy actuarial gains and losses are recognized immediately during the same year itself.89 86.00 10.04.00 0.00 1.00 100. Attrition rate by reference to past experience and expected future experience and includes all types of withdrawals other than death but including those due to disability. The above information is certified by the Actuary.00 1.00 Gratuity (Funded) 280.R.24 0 0 0 0 0 0 89.00 8.80 758.00 1. promotion and other factors.86 218.00 8.77 85.2010 8.51 437.00 Gratuity as on 31/03/09 0. seniority.93 70.

needs to be treated as Defined Benefit Plan. which requires interest shortfall to be met by the Employer. Government interest to be paid on Provident Fund Scheme exceeds rate of interest earned on Investments) pending the issuance of guidance note from the Actuarial Society of India. In regard to any future obligation arising due to interest shortfall (i. Employee Benefits (revised 2005) states that Provident Funds set up by employers. The Guidance issued by the Accounting Standard Board (ASB) on implementing AS-15. the Company’s Actuary has expressed his inability to reliably measure the same. in lakhs) 2009-10 2008-09 761. 1952.Employer’s Contribution to Provident Fund (Rs.59 The Company’s Provident Fund is exempted under Section 17 of Employees’ Provident Fund Act. The conditions for grant of exemption stipulates the employer shall make good deficiency. if any. The fund does not have any deficit or interest shortfall. 53 .e.77 692. in the interest rate declared by the Trust vis-à-vis statutory rate..

36 23398.26 2739.0 26540.26 70.00 117.97 15175.00 1055.48 12483.68 0.27) (3186.00 0.15) (426.44 (5716.93 516.75 1823.68 9164.68 (3380. SEGMENT REPORT The company operates in Shipbuilding.87 514.12 9931.0 (5716.05 0.11 27659.93 61896. issued by the Institute of Chartered Accountants of India is given here under: (Rs.00 0.75 7340.77) 21719.75 0.39 Ship repairs Retrofit Un-allocated Total 26604.88 9679.58 19117.43 9080.21 48253.66 26524.17 2212.00 516. Information in respect of the said segments as required by AS 17.00 0 516.68 (917. Ship repair and Sub-marine Retrofit business segments.75 0.80) 5360. 36784.51 31943.66 2499.00 54 .87 17949.32 102.61) (3186.77) 25360.01 0.22 (5826.45 14870.51 0.53 (1052.91) 24347.00 40.22 1260.64 3125.76 1260.50 11503.00 416.01 0.67 606.28 1679.lakhs) Ship building Segment Income : Sales WIP (Accretion/Decretion) Other Income Total Income Segment Expenditure: Materials & Direct Expenses Direct Labour Total Segment expenditure Segment Result Overheads Provisions and Adjustments Net Segment Result Income Tax Deferred Tax Total Result Other information Segment Assets Segment Liabilities Capital Expenditure Depreciation Non-cash expenditure other than Dep.00 103899.0 16226.15) (426.55) 232.05 (1052.87 100150.8.26 645.55) 45754.29 9080.53 0.57) 0.64 2796.49 0.93 6241.51 304.73 (917.51 24921.66 45395.54 202409.00 1571.80) 2216.79 0.10 1.00 0.57) (2213.08 1502.20 66203.

3. 2008-09 25.23 232.95) 2885733 Rs.16 1163. 5569. ii) Provisions made against doubtful debts. sums payable as employer etc. issued by the Institute of Chartered Accountants of India. 127906 132334 55 . 13. Naresh Kumar. In lakhs) b) Weighted average number of equity shares used as Denominator for calculating EPS c) Earnings per share: Profit/(Loss) Basic & Diluted A). However. As per technical evaluation. The estimated cost of completion of vessels under construction has been revised to Rs 127906 lakhs as at 31. there is no impairment in the carrying cost of cash generating units of the company in terms of Accounting Standard (AS 28). doubtful advances and contingencies etc. in view of the financial restructuring proposal of the company pending with Government of India.96 11414.51 4948.34 (14000.(Rs in lakhs) 2009-10 9.92 11018.Rakesh Mahajan. IN (Retd.60 1569.55 10592.2009. based on the present position. HSL is confident of getting financial restructuring approval from GoI in the financial year 2010-11 resulting in the necessary taxable profit for realization of the deferred tax amount.3. Accordingly accountal as per the above said opinion has not been made during the year.2010 from Rs 132334 lakhs as at 31.25 5109.63 5302. issued by the Institute of Chartered Accountants of India are: a) Related parties : Key Management Personnel: i) Cmde.55 1229.63 822. The accountal of Deferred Tax Asset (DTA) was referred to the Expert Advisory Committee of The Institute of Chartered Accountants of India which has since given the opinion based on which it was appropriate to charge off DTA.The deferred tax asset as at 31-3-2010 comprises of the following: a) Deferred tax asset : i) Unpaid interest & taxes. (485) 10. iii) Set off of unabsorbed depreciation available under Income Tax Act Total b) Deferred Tax liability: i) Timing Difference between book and tax depreciation Net Deferred Tax Asset B). Director (Finance & Commercial) b) Details of transactions carried out with the above stated related parties: Remuneration paid during the year a) Net profit/(Loss) as per profit and loss account (Rs.43 3019922 Rs.08 12.) Chairman & Managing Director ii) Shri. Information in respect of related parties in terms of AS 18. 8 15. 11.70 12248.

40 13335.76 111.56 157. 3.T Meters Liters.5 Pioneer Class vessels of 21500 DWT each.5 Pioneer class vessels of 21500 DWT each.17 26290.77 9479.5 Vessels B Well Platforms 48% 90% Nil 45% 85% Nil Pioneer class vessels (314.54 33537.77 602.41 2008-09 Quantity 16792.in lakhs) Description Unit Steel Pipes Paints Pipe Fittings and others Ship Machinery and Equipt. Others Ship Repair Materials Retrofit Materials Total M. 2009-10 Quantity 12860 12717 25652 28741 Value 7269. 2 Well Platforms per annum 6. ii) Materials Consumed : (Rs.14.31 56 .53 3471.08 1708.07 656.5 Pioneer class vessels of 21500 DWT each. 1956 i) Licensed & Installed Capacities and Actual Production : 2009-10 Licensed Capacity A B Ship Construction Well Platforms Not Applicable 2 Well Platforms Per annum (8000 MT of structural fabrication) Not Applicable 2 Well Platforms Per annum (8000 MT of structural fabrication) 2008-09 Installed Capacity A i) ii) B Ship Construction Rated Capacity as Reckoned by consultant Well Platforms Actual Production A B Ship Construction Well Platforms Capacity Utilization* A Ship Construction i) At 6. 10034 43965 37434 Value 6701.96 Pioneer class vessels (296.38 55.01 24.32 45.614) Standard Pioneer Units) Nil 6.5 Vessels ii) At 3. Nos.5 Pioneer Class vessels of 21500 DWT each.90 8000.60 1387.27) Standard Pioneer Units) Nil 2.86 6820. 3. 2 Well Platforms per annum *inclusive of outsourcing and submarine works. Information under Schedule VI to the Companies Act.

components & spare parts and capital goods. v. 16.48 1. iv.(Rs in lakhs) iii) i) ii) iii) iv) iv) a) Break up of Materials Consumed : Value of all Imported Materials including components and spare parts consumed during the year Value of all Indigenous Materials including components and spare parts consumed during the year Percentage of item (i) to total consumption Percentage of item(ii) to total consumption Expenditure in Foreign Currency i) Royalty.T. iii.34 57 .12 83.64 3833. Particulars Salary and Allowances Contribution to Provident Fund & Group Gratuity Scheme.06 25.91 2009-10 2008-09 30005. a) Names of SSI units.26 1.53 4416.No i. where payments are out standing for more than 30 days could not be given in the absence of separate registration for the said SSI units with the company.57 21874.47 10.51 1.18 0.06 15.36 23790.19 3531. rules) Total 15.01 0. Know-how and Professional Consultancy fees ii) Traveling Expenses iii) Others b) v) CIF value of imported materials .20 16.13 3.80 vi) Details of Remuneration to Chairman & Managing Director and other whole-time Directors : (Rs in lakhs) S.08 14892. b) In the absence of registration by Micro and Small Scale industries the information pertaining to these suppliers / service providers could not be furnished.84 89.23 2008-09 12. ii.38 40620.55 0.. Earnings in Foreign Currency from ship repair activity 0 0 1659.33 0. The reconciliation of balances as per price stores ledger and Bin Cards is a continuous process 2009-10 20. Reimbursement of Entertainment Expenses Reimbursement of Medical Expenses Value of Perquisite in respect of use of car (as per I.67 0 0 3914.

Kumar & Co. NARESH KUMAR.24 lakhs .) Chairman & Managing Director Sd/CA P Vikram (Partner) Membership No216542. These changes has resulted in decrease in profit by Rs.03. decrease in fixed asset (Net Block) by Rs. Chartered Accountants Firm Reg. 1956.46. Previous year's figures have been regrouped / rearranged wherever necessary.236. the accounts and the notes forming part of the accounts as approved by Board of Directors in the 352nd Board Meeting held on 21st June.48 lakhs and increase in current liabilities by Rs.17 18 19 Certain Advances and Provisional Liabilities for Purchases remain unadjusted. pending link up between the same. No.71 lakhs.44. Consequent upon the observations of Comptroller and Auditor General of India during the course of audit under section 619(4) of the Companies Act.R. In terms of our report of even Date attached For G.004941S 20 For and on behalf of the Board of Directors Sd/RAKESH MAHAJAN Director (Finance & Commercial) Sd/Cmde. 2010 58 . Letters have been issued to all the customers seeking confirmation of balances as at 31.32.298.96 lakhs .92.65 lakhs. increase in Capital Work-inprogress by Rs. IN (Retd. Sd/INAITULA BAIG Company Secretary Place: Visakhapatnam Date: 13th August. which are still to be received.2010.64 lakhs . increase in inventories by Rs. decrease in other current assets by Rs.2010 have been revised.

2064 STATE CODE: 01 BALANCE SHEET DATE : 31.923.086) Accumulated Loss 9. 216542 Company Secretary Place : Visakhapatnam Date : 13th August. Chartered Accountants Firm Reg.842.218 PERFORMANCE OF THE COMPANY Amount in Rs.019.021 9.420 Deferred Tax Asset 1101863 Net Current Assets (1.379 9.Kumar & Co. Visakhapatnam. REGISTRATION DETAILS REGISTRATION NO. thousands Turnover (including other income) 6387795 Total Expenditure 6725822 Profit / (Loss) before tax -338027 Profit / (Loss) after tax 23243 Earnings per share in Rupees (face value Rs.938.240. thousands Public Issue NIL Bonus Issue NIL Rights Issue NIL Private Placement NIL Issued to Government of India NIL POSITION OF MOBILISATION AND DEPLOYMENT OF FUNDS Amount in Rs.2010 CAPITAL ISSUED DURING THE YEAR Amount in Rs.Balance Sheet Abstract and General Business Profile of Hindustan shipyard Limited.923.974 SOURCES OF FUNDS Paid-up Capital 3.218 APPLICATION OF FUNDS Net Fixed Assets 812.03.1000/-) 8 Dividend NIL GENERIC NAMES OF THREE PRINCIPAL PRODUCTS/SERVICES OF THE COMPANY Item Code 8901 1001 8901 9001 8904 0000 For and on behalf of the Board of Directors Sd/Sd/RAKESH MAHAJAN Cmde. 2010 59 Product Description Ships Bulk Carriers Tugs As per our report of even date For G. VSM IN (Retd) Director Chairman & (Finance & Commercial) Managing Director Sd/INAITULA BAIG Membership No.R.922 Reserves and Surplus 950 Secured Loans 963967 Unsecured Loans 5.240.974 Total Assets 20.851. thousands Total Liabilities 20. No.004941S Sd/CA P Vikram (Partner) . NARESH KUMAR.

00 6284.40 5969.58) (1213.87 570.43) (39.67 5049. Cash flow from operating activities Net Profit/(loss) before Extraordinary & Prior period items Adjustments for: Depreciation Interest paid Interest received Loss/(profit) on sale of fixed assets Operating Cashflow before working capital changes & Extraordinary & Prior Period items Prior Period items: Net Expenditure Operating Cashflow before working capital changes & after Extraordinary & Prior Period items Adjustments for working capital changes Inventories Trade and other receivables Trade and other payables Cash generated from operation (A) B.09) 117.62) 2242.55) 1043.07) (11860.65) 21183.81) (1.88) 692.R. Cashflow from financing activities: Proceeds from Share Capital Proceeds from Borrowings from GOI & Banks Interest paid Net Cash from financing operation (C) D.39) (3969.61 1. Cashflow from Investing acitivities: Purchase of fixed assets Capital Work-in-progress Sale of fixed assets Interest received Net Cash from investing operation (B) C.CASHFLOW STATEMENT FOR THE YEAR ENDED 31st MARCH 2010 (Rs.75) 6370. 216542 Company Secretary Place : Visakhapatnam Date : 13th August.64 (5302.45) (2895. NARESH KUMAR.14 (5515.09 6031.13) (1662.75 5241.54 (7910.69 (5241.004941S Sd/CA P Vikram (Partner) For and on behalf of the Board of Directors Sd/Sd/RAKESH MAHAJAN Cmde.29) 645.20) 106. VSM IN (Retd) Director Chairman & (Finance & Commercial) Managing Director Sd/INAITULA BAIG Membership No.28) 5443.06) 2098.30) (731.09) 7393.81 (64.22) (1653.09) 0.73 1480.96 345.76 (5049.79 (9413. 2010 A.Kumar & Co.09 As per our report of even date For G. In lakhs) Year ended 31st March.53) 11547. 2010 60 .13 (1480.55 (570.43 (1256.00 1288. Chartered Accountants Firm Reg.37) (9636.98 (10674. Net Increase in Cash & Cash Equivalent (A)+(B)+(C) Cash and cash equivalent at the beginning of the year Cash and cash equivalent at the end of the year (3034.74 11547. No.56 Year ended 31st March.98 1896. 2009 (8228.

45 263.94 44.92 27.20 146.17 390.11 14. Staff and Workmen On Subsidised transport : Boats and launches On Social & Cultural Activities Expenditure on Public Relations and Publicity: Salaries Publicity 51.56 715.13 5.65 0.12 154.62 0.66 6.34 39.37 8.0.12 459. The figures of Township Expenditure and Income have been collected only to the extent practicable from the accounts of the company.01 1105.90 489.38 146.35 533.82 143.03 189.14 172.56 797.48 60.65 14.09 522.95 2. NARESH KUMAR.47 11.74 41. 3.2010) has not been taken into account since this has been finalised out of Equity Share Capital except for an amount of Rs. IN (Retd) Director Chairman & (Finance & Commercial) Managing Director .08 83.68 283.46 32.35 1131.43 39.72 NOTES : 1. RESIDENTIAL QUARTERS AND OTHER SOCIAL OVERHEADS FORMING PART OF THE PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2010 (Rs. 2.562. Sd/INAITULA BAIG Company Secretary Place : Viskhapatnam Date : 13th August.55 8.44 85.62 7.39 5.92 410.43 32.69 74.65 This Year Details Previous Year Total Details Details Total 190.56 -37. Interest on capital outlay on Township and Residential quarters and for providing other Social Amenities (original cost of Rs.91 197.74 lakhs as on 31.26 179. Previous year's figures have been recast wherever necessary.57 7. The expenditure has been in the individual primary heads in the Profit and Loss Account.04 53.83 80. Wages & Other Benefits Housing Estate Site Rent Property Tax on Residential Buildings Electricity and Water Charges Repairs and Maintenance Colony Security Miscellaneous Expenditure Depreciation Less: Income-Rent Electricity and Water Charges Expenditure on Social Overheads: Schools and Educational Facilities Less: Educational Grant On Medical facilities On Subsidised Canteen On Subsidised lunch for Officers.45 lakhs out of grant of Andhra Pradesh in respect of Gandhigram High School.05 14.22 9.11 74.15 1.SCHEDULE OF NET EXPENDITURE ON TOWNSHIP.180.92 334.61 36.09 479.12 lakhs written down value Rs.03. 2010 61 For and on behalf of the Board of Directors Sd/Sd/RAKESH MAHAJAN Cmde.99 2. in lakhs) Description Details Schedule -22 EXPENDITURE ON TOWNSHIP AND RESIDENTIAL QUARTERS Administration & Maintenance: Salaries.57 16.

00 0.00 0.00 0.38 371.00 381.35 0.CAPITAL OUTLAY ON TOWNSHIP RESIDENTIAL QUARTERS FOR PROVIDING SOCIAL AMENITIES (Rupees in lakhs) GROSS BLOCK As on As on Additions Sales/ Upto For the On sales/ As on Upto As on 31.13 0.74 17.12 562.96 0.99 DEPRECIATION NET BLOCK PARTICULARS 62 Land Buildings Roads & compound walls etc.12 360.83 0.00 0.96 0.00 0.45 3.90 0.03.64 1.00 0.00 0.31 0.41 3. NARESH KUMAR.41 180.26 0.2010 31.00 0.64 201.12 371.00 315.2010 31.00 0.49 1.00 0.41 3.03.74 190.83 1.00 562.50 24.03.24 562.00 306.00 0.2009 the year during for the year the year 1.48 0.00 0.00 0.72 175.49 1.00 9.03.00 0.00 0.00 0.72 490.24 0.72 184.00 0.96 19.00 0.45 21. 2010 .00 562.2009 during Adjustment 31.99 26.03.36 1.09 19.45 0.31 18. IN (Retd) Chairman & Managing Director Sd/INAITULA BAIG Company Secretary Place : Viskhapatnam Date : 13th August.45 2.57 0.31 18.48 9. Electrical Installations Hospital Equipment Motor Vehicles Total Previous Year For and on behalf of the Board of Directors Sd/RAKESH MAHAJAN Director (Finance & Commercial) Sd/Cmde.00 0.00 0.2009 Year Adjustment 31.72 490.00 0.2010 31.00 1.03.41 190.12 0.95 25.99 26.04 1.13 11.45 21.05 17.00 0.

48 (685.63 41.02 999.00 619.00 0.00 241.39 1105.81 0.61 144.53 4.10 96.58) 1048.10 992.62) 1163.00 676.44 6.09) 1155.09 290.29 167.57 6.08 1009.88 5.27 6.39 1064.16 105.02 109.00 6.47 1009.22 290.98) 1157.52 215.89 1103.68 0.39 272.90 6.11) (981.92 767.10 0.26 6.55 133.38 407.69 0.90 169.98 39.22 290.10 0.43 929.71 255.18 847.23 102.98 (57.35 (115.00 (74. of India State Bank of India Others Total Application of Funds : Gross Block Less: Cumulative Depreciation Net Fixed Assets Capital Work-in-Progress Deferred Tax Asset Current Assets Current Liabilities and Provisions Net Current Asset Cumulative Loss Total Net Worth * *Net Worth = Paid up Capital+Free Reserves-Accumulated Losses .55 895.66) (991.68 646.46 637.10 0.41) 208.20 0.93 (232.61 0.55 0.20 991.57 (706.73 63.39 (114.48 114.16 255.31 0.78 0.99 0.81 144.01 301.96 129.28 (983.14 248.22 255.13 307.90 167.39 166.69 222.36) 333.46 20.81 129.72 44.92) 192.FINANCIAL POSITION AND PERFORMANCE OF THE COMPANY (Rupees in crores) 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 63 106.42 (183.61 (566.10 0.32 24.01 830.72 933.35 1130.46 1085.72 661.98 57.22 290.00 332.83 70.21) 985.93 68.10 0.06 48.15) (1026.69 1130.00 0.08 6.62 (139.29 108.31 149.76 304.67 122.78 12.23 118.42 895.57 1031.08 36.16 1139.87 1139.28 1048.24 283.10 0.87 53.31 136.31 281.32 166.67) 847.46 20.00 0.31 0.62) (1026.71 143.47 110.10 0.54) (1012.14 137.00 623.43 1064.57 380.32 (683.27 125.31 121.10 68.22 700.43 (111.52 0.10 0.64 0.23 830.99 331.85) BALANCE SHEET : Sources of Funds : Paid up Capital Reserves and Surplus Secured Loans Unsecured Loans and Interest: Govt.08 31.36 818.91) 987.77 192.84 255.43 1085.53 929.22 653.08 6.01 808.26 0.24) (88.00 0.46 255.29 177.47 89.44) 212.05) 1090.87 54.01 167.99 301.40 317.94 114.02 44.46 20.53 992.78 (184.22) 856.

66 62.19 5.46 24.78 77.16) (856.63 17.01) Net Profit / (Loss) (18.85 18.(Rupees in crores) 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 64 384.99 16.91 8.45) 436.66 11.98) (15.00 0.48 5.33 1.25 27.36 84.52 41.67 3.00 0.93 Profit & Loss Appropriation 0.39 164.32) (3.64) (3.32 0.00 0.26 510.42) 2.83) (9.00 0.61 4.55 (5.83 156.27) (30.98 318.32 38.58 19.38 14.13 4.77 Expenditure : Materials 65.68 31.49 6.63 Work-in-Progress 0.19 270.93 50.23 15.86) (4.81 64.93 34.00 0.03 45.20 236.43) (1155.00 (4.00 0.34 201.63 (46.56 8.20 2.60 156.08 (4.88 82.07) 28.00 0.91 64.19 Direct Expenses 26.52) 1.00 0.00 0.93 28.04 173.58) 0.88 80.89) (1103.88 1.69 90.00 0.07 4.01) 0.11 303.10 126.02 16.19 Income Tax 0.08 144.59 9.06 Interest 27.00 0.91 20.54 190.29 45.19 300.75 38.48 14.00 0.11 12.84 5.96 (10.66 42.59 (79.00 0.89) 6.03 103.42 77.58 327.01 26.33 73.95 Depreciation 5.15 498.16 Pay & Benefits 66.92) (387.59 13.00 0.89) 6.23) .10) PROFIT AND LOSS ACCOUNT : Income : Turnover 166.67 92.50 19.31) 6.60 12.41 (33.27 Deferred Tax asset 0.76 12.32 4.46 (52.00 0.65 43.52 (847.42) 2.64 Taxes and Duties 5.62 24.12 4.39 129.00 0.33 2.87 15.85) (11.13 109.73) 6.98) (15.00 (5.60 80.82 Profit / (Loss) before Interest and Depreciation 14.49 Other Expenses 14.15 4.75 47.00 41.72 235.12) 636.03 344.80) (31.35) (1157.46 52.81 5.03 14.29 8.00 0.00 78.00 0.51 23.50 21.93 3.46) (1163.31 Transfers (44.38 24.12 Provisions and Losses 28.46 (52.16 26.30 243.00 0.67 127.44 0.37 25.07 6.26) 2.96 25.00 119.43) 395.22 0.32) 577.45 7.40) Extraordinary items 0.19 308.57) (140.49 (136.07 54.05 72.00 (987.84) Total 164.42) 264.32 184.47) (1105.44 5.88 399.03) (7.86) (1.00 (109.05 1.60 662.53) 53.00 Cumulative Profit / (Loss) (1090.54 Total 178.78 4.85 (3.43 0.46 0.28 618.15 225.70 Profit / (Loss) before tax (18.97 39.03) (7.24 7.35 (0.67 151.74 (7.60 Other Income 11.28 20.55 89.57 94.82 44.28) (2.00 0.28 8.00 (985.55 (10.89 23.15 Prior period Adjustments 1.54 1.14 222.66) 0.

125 "Jalapratap" The Scindia Steam Navigation Co. 8. Ltd. 8.. Ltd. 3..179 "Jalaprabha" The Scindia Steam Navigation Co.1952 17-10-1952 15-07-1954 19-08-1954 22-06-1955 29-12-1955 18-03-1958 23-05-1956 25-11-1956 25-09-1957 04-12-1957 65 S. 7.312 08-12-1955 16-04-1956 04-08-1956 16-02-1957 29-07-1957 22-11-1957 31-12-1957 26-03-1958 26-07-1957 . 18.100 "Jalaputra" The Scindia Steam Navigation Co.248 "Jalavijaya" The Scindia Steam Navigation Co.253 "Adyar" Madras Port Trust (Kort Nozzle Tug) "Andamans" Ministry of Home Affairs 2. 2. Ltd 7. 5. 8. 22. 4. 11.. 20. 8.137 "Jalapalaka" The Scindia Steam Navigation Co. 8.. 15. 9. "Jalaprakash" The Scindia Steam Navigation Co.No. 16.. 7.160 "Jalavikram" The Scindia Steam Navigation Co. 6. 23. 8. Ltd. 14... Ltd 7. 17... "Jalausha" The Scindia Steam Navigation Co. Ltd.125 "Jalapushpa" The Scindia Steam Navigation Co.470 (Passenger cum Cargo Vessel) "State of Orissa" The Eastern Shipping Corporation Ltd. Ltd 8. Name of the Ship / Name of the Owner Date of Laying Keel Date of Launching Date of Delivery 1. Ltd.08. 8.150 "Jalapadma" The Scindia Steam Navigation Co.134 "Jagrani" The Great Eastern shipping Company Limited 8. Ltd..138 "Jalapankhi" The Scindia Steam Navigation Co.141 "Bharatmitra" The Bharat Line Limited 8. Ltd.. 8..Hindustan Shipyard Limited HINDUSTAN SHIPYARD LIMITED :: VISAKHAPATNAM SHIPS BUILT Dead Weight Tonnes 22-06-1946 22-08-1946 23-05-1947 27-05-1948 07-10-1949 26-01-1950 26-01-1950 28-09-1950 09-05-1951 09-05-1951 26-12-1951 21-07-1952 21-07-1952 01-12-1953 30-09-1953 19-10-1953 16-12-1953 02-09-1954 27-09-1954 10-08-1955 14-03-1948 20-11-1948 18-12-1948 08-08-1949 06-12-1949 14-09-1950 27-12-1950 26-03-1951 15-12-1951 27-02-1952 09-07-1952 26-08-1953 09-11-1953 16-08-1954 26-03-1955 18-08-1954 02-11-1955 29-03-1956 31-12-1955 25-07-1956 26-10-1948 07-04-1949 19-05-1949 20-12-1949 04-04-1950 18-01-1951 03-04-1951 02-07-1951 09-06-1952 09. Ltd. Ltd.087 "Bharatratna" The Bharat Line Limited 8. 8. 21. 7. Ltd. 19..311 "Vidyut" Land Customs Department (Motor Launch) "Jalavishnu" The Scindia Steam Navigation Co. 10.179 "Kutubtari" (Passenger Ferry) The Scindia Steam Navigation Co Ltd. 8. 13...322 "State of Kutch" The Eastern Shipping Corporation Limited 8.114 "Jalavihar" The Scindia Steam Navigation Co. 12. 7..312 "Jalaveera" The Scindia Steam Navigation Co. Ltd..

41. 51.S.931 12.608 12. 45... Haldia" Calcutta Port Commissioners "State of Rajasthan" The Eastern Shipping Corporation Ltd. Ltd.873 (Launch) 12. "Vishva Prem" The Shipping Corporation of India Ltd.. "Vishva Seva" The Shipping Corporation of India Ltd. 33.666 12. 39. "Vishva Tirth" The Shipping Corporation of India Ltd. 24-05-1962 06-09-1962 26-04-1963 13-11-1963 04-05-1964 08-01-1965 23-08-1965 24-12-1965 23-01-1968 13-02-1967 19-05-1967 22-11-1967 16-04-1964 05-12-1964 01-07-1965 09-12-1965 01-10-1966 28-12-1966 26-1967 15-11-1967 15-04-1968 24-09-1968 20-03-1969 08-10-1969 "Jagmitra" The Great Eastern Shipping Company Ltd. 50.900 12.. 38.405 9. "Vishva Bhakti" The Shipping Corporation of India Ltd...947 12. 46. 6... 43.644 9.. "R...S. 27. "Jayalakshmi" New Dholera Steamships Limited "State of Uttar Pradesh" The Eastern Shipping Corporation Ltd. "State of West Bengal" The Shipping Corporation of India Ltd. "Jalakanta" The Scindia Steam Navigation Co. 34....577 12. 26. "Dhruvak" Indian Navy "Indian Industry" The India Steamship Company Ltd.937 12. "Vishva Maya" The Shipping Corporation of India Ltd. "Vishvanidhi" The Western Shipping Corporation of India Ltd. 30. 36..565 12.391 (Mooring Vessel) 6. 25. 42. "Vishva Dharma" The Shipping Corporation of India Ltd.632 (Port Survey Vessel) 9. "Vishva Siddhi" The Shipping Corporation of India Ltd..419 5. 48. 28.. "Vishva Shakti" The Shipping Corporation of India Ltd.852 31-08-1957 27-01-1956 07-12-1957 22-08-1957 03-10-1959 16-11-1960 22-01-1959 11-05-1959 02-12-1959 29-09-1960 27-08-1960 22-09-1960 05-05-1961 12-10-1961 14-10-1957 08-01-1962 05-07-1958 16-07-1958 12-12-1958 22-04-1959 31-12-1959 11-06-1960 29-04-1960 06-09-1960 16-04-1961 25-01-1961 20-12-1961 06-04-1962 17-08-1962 29-03-1963 02-11-1959 15-10-1963 10-06-1959 16-11-1959 27-10-1959 27-01-1960 16-01-1961 25-03-1961 18-05-1961 02-10-1961 06-04-1962 14-09-1962 28-01-1963 30-04-1963 23-09-1963 12-11-1964 28-12-1964 04-05-1965 20-08-1965 29-01-1966 31-03-1966 02-08-1966 11-10-1966 02-10-1967 03-12-1967 02-03-1968 12-09-1968 29-01-1969 11-05-1969 17-12-1969 20-04-1970 .915 12. "Rohini" Hindustan Shipyard Limited "Jala Kendra" The Scindia Stea Navigation Co. Ltd. "Vishva Tej" The Shipping Corporation of India Ltd. Name of the Ship / Name of the Owner Dead Weight Tonnes Date of Laying Keel Date of Launching Date of Delivery 66 24. 52.923 12.886 12.V..557 12.912 12. 49.959 12...886 12.. 44. 35.606 12.. 32. 31. 29.913 (Survey Vessel) 12. "Darshak" Indian Navy "State of Madhya Pradesh" The Shipping Corporation of India Ltd.No. "Vishva Shanti" The Shipping Corporation of India Ltd. 40.972 12. Ltd. 37.. "Jala Kala" The Scindia Steam Navigation Co.... "State of Punjab" The Shipping Corporation of India Ltd. 47. "Vishva Shoba" The Shipping Corporation of India Ltd.. "State of Mysore" The Shipping Corporation of India Ltd. "Vishva Mangal" The Shipping Corporation of India Ltd.

.. 56. "Sagarika-2" Oil & Natural Gas Commission 71. "Indian Glory" Indian Steam Ship Company Ltd. 70.762 14.. "Damodar Ganga" Damodar Bulk Carriers Ltd..971 13.914 20. 68.881 (Training Ship) (Dredger) 13. "Vishva Vikram" The Shipping Corporation of India Ltd.881 Launch 12. 80. "Indian Grace" India Steam Ship Company Ltd.883 (Landing Craft) 12.854 ...868 20... "Indian Endurance" India Steam Ship Company Ltd.344 20. 75. 57. "Vishva Mamta" The Shipping Corporation of India Ltd. "Jag Doot" The Great Eastern Shipping Company Ltd. 62. 60. 64.365 21. 12..765 13. "Jagat Priya" Dempo Stemships Ltd.. 06-06-1968 12-03-1970 16-12-1968 01-05-1971 26-06-1969 20-10-1969 27-08-1971 26-08-1970 18-03-1970 23-12-1970 30-06-1971 25-11-1971 29-03-1972 11-09-1972 30-08-1973 05-04-1974 28-01-1974 18-12-1974 26-06-1974 07-10-1974 16-03-1976 26-07-1975 21-11-1975 26-02-1976 02-07-1976 25-10-1976 12-04-1977 25-10-1977 14-03-1975 30-11-1975 24-07-1975 17-11-1975 30-03-1976 24-10-1976 23-12-1976 04-08-2977 16-03-1978 03-11-1978 11-07-1979 01-12-1979 20-03-1976 30-03-1976 06-09-1976 30-10-1976 12-03-1977 25-06-1977 29-03-1978 27-10-1978 16-04-1979 05-12-1979 11-09-1980 27-03-1981 09-02-1970 14-12-1970 20-07-1970 14-07-1971 30-11-1970 25-04-1971 12-07-1972 02-11-1071 17-03-1972 23-08-1972 06-03-1973 17-08-1973 26-01-1974 22-06-1974 03-10-1974 07-08-1975 12-09-1970 31-12-1970 02-07-1971 30-09-1971 22-10-1971 27-03-1972 11-02-1973 02-03-1973 18-05-1973 16-10-1973 04-03-1974 16-08-1974 16-03-1975 23-03-1975 30-11-1975 28-02-1976 Name of the Ship / Name of the Owner Dead Weight Tonnes Date of Laying Keel Date of Launching Date of Delivery 67 53. "Sagarika-1" Oil & Natural Gas Commission 69. Vishva Madhuri" The Shipping Corporation of India Ltd. 61.986 13.. 55. 72. "Vishva Yash" The Shipping Corporation of India Ltd. "Jalagovind" The Scindia Steam Navigation Company Ltd. 65. 63.089 21.. "Jalagouri" The Scindia Steam Navigation Company Ltd. 59.197 21.. 66.420 14.S... "Jala Godavari" The Scindia Steam Navigation Company Ltd. "Jalagopal" The Scindia Steam Navigation Company Ltd... "T.. "Jag Deesh" The Great Eastern Shipping Company Ltd.393 (Supply cum Crew Vessel) 21. "Vishva Bandan" The Shipping Corporation of India Ltd.. "Walchand" Hindustan Shipyard Limited "Vishva Nayak" The Shipping Corporation of India Ltd. 67.No. 79..283 21..850 20.967 13. 74. 78. 76. Rajendra" The Directorate General of Shipping "Bombay Duck-II" The Visakhapatnam Port Trust "Vishva Karuna" The Shipping Corporation of India Ltd. "Jag Dharma" The Great Eastern Shipping Company Ltd. 54. "Jag Dhir" The Great Eastern Shipping Company Ltd.S. "Shanti" The Visakhapatnam Port Trust "Vishva Sarshan" The Shipping Corporation of India Ltd. 77. "Indian Explorer" India Steam Ship Company Ltd.406 21. 73.383 (Supply cum Crew Vessel) 21. 58.298 21.

. 101.639 825 (Barge) 825 (Barge) 825 (Barge) 825 (Barge) 825 (Barge) 825 (Barge) 26.No. 110.C.W. 107. Indian Navy "Ambica" HSD Oiler Indian Navy "Maharashtra" The Shipping Corporation of India Ltd..W. "Samudrika . "INS Savitri" OPV.C "Lok Prakash" The Shipping Corporation of India Ltd. 105. Name of the Ship / Name of the Owner Dead Weight Tonnes Date of Laying Keel Date of Launching Date of Delivery 68 81.113 26.750 DWT (Bulker) 30 T..C. "Swatantra" The Visakhapatnam Port Trust (Landing Craft) 16.W.I..789 1. SDFC / Moghul Line Ltd. " Mundeswari" . 102. "State of Gujarat" The shipping Corporation of India Ltd.I.710 16. "INS Sujata" OPV. "Prabhu Daya" Tolani Shipping Corporation of India Ltd. Indian Navy "INS Sharada" Indian Navy "INS Pratap" The Shipping Corporation of India Ltd.. "Tenneti" Hindustan Shipyard Ltd.. 92.B.231 1.. Indian Navy "INS Gharial" GRSE / Indian Navy "INS Sarayu" OPV.. 97.C " Argo" . 86.. 89.713 1..I. 106. 109.240 16.C. 104. 100.. "Nand Rati" Essar Bulk Carrier Ltd.W.I. "State of Haryana" The Shipping Corporation of India Ltd.C " Matla" . 83.S.W.C. "Samudrika-7" OPSSV Oil & Natural Gas Commission "Sagar Bhushan" (Drill Ship) Oil & Natural Gas Commission "Lok Rajeswari" The Shipping Corporation of India Ltd.W.P Tug 29-10-1980 19-03-1979 09-03-1981 30-05-1979 22-04-1984 22-05-1984 03-10-1981 12-08-1984 05-12-1979 04-02-1983 12-08-1984 12-08-1984 05-03-1982 1-8-1987 1-8-1987 1-8-1987 1-8-1987 1-8-1987 1-8-1987 19-07-1984 30-03-1985 25-06-1988 30-11-1989 25-06-1988 16-06-1989 28-08-1985 16-06-1989 01-09-1993 18-09-1986 10-09-1994 06-05-1981 27-07-1980 30-01-1983 03-06-1981 24-11-1984 10-03-1985 20-08-1983 29-01-1985 10-01-1982 25-11-1984 23-06-1986 18-08-1985 16-07-1984 27-10-1988 10-11-1988 27-10-1988 10-11-1988 10-01-1989 07-02-1989 24-03-1985 29-05-1987 23-05-1989 01-04-1991 16-10-19891 22-08-1990 31-07-1988 23-10-1991 10-12-1994 23-09-1992 29-03-1997 29-09-1981 16-06-1983 16-07-1984 12-12-1984 09-12-1985 19-03-1986 31-03-1986 24-09-1986 08-07-1986 02-03-1987 28-05-1987 04-11-1987 27-10-1988 03-03-1989 03-03-1989 03-03-1989 03-03-1989 03-03-1989 03-03-1989 12-04-1989 23-02-1990 20-11-1990 02-05-1991 04-10-1991 16-12-1992 28-06-1993 03-11-1993 23-01-1995 06-01-1996 12-09-1997 .728 1. "Lok Prem" The Shipping Corporation of India Ltd. 85.C " Manjari" .C " Mahanadi" .C.. 108. 98.806 26. 93. 82.714 OPV LSTL OPV OPV 26.240 26. 91. 95.6" OPSSV Oil & Natural Gas Commission "State of Orissa" The Shipping Corporation of India Ltd. 94.I. 99.242 9.C. 88. 103. 87.000 42.I.718 OPV 1.790 26. "Samudrika-4" OPSSV Oil & Natural Gas Commission "Samudrika-5" OPSSV Oil & Natural Gas Commission "Lok Maheswari" Bulk Carrier.700 26.C " Mandakini" . 90. 96. 84.

M. Tug 42.1999 30.A & N Administration 117.A & N Administration 124.P.2000 18. BARATANG" . 123.T. Swaraj Dweep .V.11.02. 126.ATVP H. 112. TIRACOL .12. M.750 DWT (Bulker) 100 Passenger Vessel 100 Passenger Vessel 50T B.Tamil Nadu" The Shipping Corporation of India Ltd.1999 06.04. 20-11-1994 22-03-1996 15-01-1998 Name of the Ship / Name of the Owner Dead Weight Tonnes Date of Laying Keel Date of Launching Date of Delivery 69 111. Goa" The Shipping Corporation of India Ltd.02.2002 05. "M.V.V.V. Tug 100 Passenger Vessel 100 Passenger Vessel 17. Sagar Durga" .Q (Indian Navy) "M..V.II" .V. Tug 25T B..Marmugao Port Trust "M.V.2001 "Mahatma" . FRP Launch .A & N Administration 125.New Mangalore Port Trust "I.T KABINI" .2001 05. 115.N.II" . 119. 121. "M.2005 11. Tug 50T B. CHAPORA .11.2003 02.Visakhapatnam Port Trust "M.05. 30-09-1999 30-09-1999 17-08-1999 18-01-2000 11-10-1999 10-11-1999 11-10-1999 10-11-1999 18. Hut Bay" .A & N Administration 08.D.1999 27-10-2000 27-10-2000 19-04-2001 31-08-2001 15-11-2001 05-01-2001 25-01-2002 05-01-2001 23.2003 23.2004 09.01.A & N Administration 113.S GAJ" .2005 129. 22-03-1994 05-07-1998 05-07-1998 13-04-1997 11-12-1996 22-03-1999 22-03-1999 21-10-1998 09-12-1999 17-01-2000 27-05-2000 15-09-2000 16-10-2001 17-01-2002 03-08-2002 04-10-2002 31-03-2003 10-11-2003 24-12-2003 29-01-2004 20. CHOULDAR" . "M. RANGAT" .07.P.V. "M.The Visakhapatnam Port Trust "Sardar Patel" The Visakhapatnam Port Trust "M.02. Wandoor" .P. "M.05. TEAL" . 120.750 DWT (Bulker) 1200 Passenger-cumCargo Vessel 50T B. Tug 100 Passenger Vessel 45T B. "G. "M. 114.2005 09.2004 116.A & N Administration 122.09.S.1999 29.No.2004 15.T.H.04.10.09.P.C Ravi B" -M/s Sarat Chatterjee & Co. "F.V.09.P Tug 45T B.A & N Administration 118.P. 128.Marmugao Port Trust "M.5 Tons Floating Crane 100 Passenger Vessel Launch 100 Passenger Vessel 500 M3 Dredger .A & N Administration 127. Jolly Buoy" .V.Visakhapatnam Port Trust 42.

M.1999 08.02.2008 05.2008 27.02.2008 07.2007 03.S. 133.2007 144.2000 08. for UTL Administration 147. Name of the Ship / Name of the Owner Dead Weight Tonnes Date of Laying Keel Date of Launching Date of Delivery 70 130.2005 08. 149.L Uttava for A & N Admin.11.Nilambar for A & N Admin.2009 23.L.06.2003 03. 141.1999 18.02.2008 06.01. Chennai M.Radha Nagar for A & N.2006 02. 140.08.2005 02.2007 18. Good Pride for GML.11.12. Strait Island" A & N Administration "M. 152.2009 12. Good Princes. M. 08.V.02. 135.Nimbutala for A & N Admin. for New Mangalore Port Trust M.01. 29.09. Bambooka" for A & N Administration "M.2004 14.2006 139. for Visakhapatnam Port Trust 150. M. 142. 143.07 20-01-07 09.V.2005 02.01.000 DWT Trader series Bulk carrier 700 Passengers-160 T Cargo vessel 150 Passenger Vessel 150 Passenger Vessel Oil recovery and pollution control vessel 30.06.12.000 DWT Trader series Bulk carrier 30.12.2005 20.2000 23.12.2006 18.2009 17.000 DWT Trader series Bulk carrier 30.11.04.V.2008 27. Admin.2008 16. 18. for M/s.11.Tug Buoy Tender cum Research vessel Utility Launch Utility Launch Utility Launch Utility Launch 30.2005 11.05.2006 02.2005 02.2005 01.05.06. 137.02.L.2007 21.2006 31. M.Good Pacific. 132. 136. "M.01.000 DWT Trader series Bulk carrier 32-T.2005 22. Iswari.2005 08.Good Providence. 148. 131. 138. M.01.2004 11.Jhansi Rani for Visakhapatnam Port Trust ORV Sagar Manjusha.2004 15.V.V.10.P.2003 17.No.08.11.2008 23. M.06.10.12.V. Good Pilgrims for GML.11.V. Goodearth Maritime Limited (GML). Chennai 151. Chennai 10 x 8 x 2 Meters 10 x 8 x 2 Meters 10 x 8 x 2 Meters 10 x 8 x 2 Meters 10 x 8 x 2 Meters 10 x 8 x 2 Meters 100 Passenger Vessel 50 T B.2008 14.T. Jal Sudhak.07. for GML.V.2005 14.2003 18.02. North Passage for A & N Admin. Bollard Pull tug 53.05.03.06.04.01.02. M.1999 03.2006 02. for GML.L. 1st. Chennai 146.2009 10. M.2008 06.2010 145.06. 134.07.000 DWT Diamond series Bulk carrier .07. M. Chennai.V. National Institute of Ocean Technology M.2008 14.V.Kavaratti.05.11. Barge for A & N Administration 2nd Barge for A & N Administration 3rd Barge for A & N Administration 4th Barge for A & N Administration 5th Barge for A & N Administration 6th Barge for A & N Administration "M.10.2005 14.V.01.

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