2014 15 PDF

BHASKAR SHRACHI ALLOYS LTD
Standalone Financial Statements for period 01/04/2014 to 31/03/2015
[400100] Disclosure of general information about company

Unless otherwise specified, all monetary values are in INR
01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
BHASKAR SHRACHI ALLOYS
Name of company LTD
Corporate identity number L51109WB1995PLC071126
Permanent account number of entity AABCB8956C
8/1 middleton row,,
Address of registered office of company KOLKATA, West Bengal,
INDIA, 700071
Commercial and
Type of industry Industrial
Registration date 19/04/1995
Public Company Limied by
Category/sub-category of company Shares/Indian Non
Government Company
Whether company is listed company Yes
Date of board meeting when final accounts were approved 29/05/2015
Period covered by financial statements 2014-2015 2013-2014
Date of start of reporting period 01/04/2014 01/04/2013
Date of end of reporting period 31/03/2015 31/03/2014
Nature of report standalone consolidated Standalone
Content of report Financial Statements
Description of presentation currency INR
Level of rounding used in financial statements Actual
Type of cash flow statement Indirect Method
[400400] Disclosures - Directors report
Details of principal business activities contributing 10% or more of total turnover of company [Table] ..(1)
Product/service 1 Product/service 2 Product/service 3
Principal business activities of company [Axis]
[Member] [Member] [Member]
01/04/2014 01/04/2014 01/04/2014
to to to
31/03/2015 31/03/2015 31/03/2015
Details of principal business activities contributing 10% or more
of total turnover of company [Abstract]
Details of principal business activities contributing 10% or
more of total turnover of company [LineItems]
Silico Manganese
Name of main product/service (Ferro Alloys)
SGCI Inserts Steel Billet
Silico Manganese
Description of main product/service (Ferro Alloys)
SGCI Inserts Steel Billet
NIC code of product/service 7202 3371 3309

Percentage to total turnover of company 74.74% 16.83% 0.00%
Details of contracts/arrangements/transactions not at arm's length basis [Table] ..(1)

Contracts/arrangements/transactions not at arm's length basis [Axis] NA
31/03/2015
Details of contracts/arrangements/transactions not at arm's length basis [Abstract]
Details of contracts/arrangements/transactions not at arm's length basis [LineItems]
Amount paid as advances if any for contracts/arrangements/transactions with related party 0
BHASKAR SHRACHI ALLOYS LTD Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Details of shareholding pattern of directors and key managerial personnel [Table] ..(1)
Directors and key managerial personnel [Axis] M1
Cumulative
Shareholding at
shareholding
Change in shareholding [Axis] beginning of year
during year
[Member]
[Member]
01/04/2014 01/04/2014
to to
31/03/2015 31/03/2015
Total number of shares held at end of period [shares] 6,38,100 [shares] 6,38,100
Percentage of total shares held at end of period 51.048% 51.048%
Increase decrease in shareholding during year [shares] 0 [shares] 0
Percentage increase decrease in shareholding during year 0.00% 0.00%
Details of shareholding pattern of directors and key managerial personnel [Abstract]
Details of shareholding pattern of directors and key managerial personnel
[LineItems]
Name of directors and key managerial personnel Shrawan Kr. Todi Shrawan Kr. Todi
Particulars of holding, subsidiary and associate companies [Table] ..(1)

Particulars of companies [Axis] NA
01/04/2014
to
31/03/2015
Particulars of holding, subsidiary and associate companies [Abstract]
Particulars of holding, subsidiary and associate companies [LineItems]
The company has no
holding, subsidiary
Name of company or associate
company
Type of company NA
Percentage of shares held 0.00%
Applicable section NA
2
Details of indebtedness of company [Table] ..(1)

Secured loans excluding deposits
Indebtedness [Axis] Indebtedness [Member]
[Member]
01/04/2014 01/04/2014
to 31/03/2014 to 31/03/2014
31/03/2015 31/03/2015
Details of indebtedness of company [Abstract]
Details of indebtedness of company [LineItems]
Changes in indebtedness [Abstract]
Addition in indebtedness 0 0
Reduction in indebtedness 0 0
Total changes in indebtedness 0 0
Principal amount at end of financial year 3,607.15 3,607.15 1,965.99 1,965.99
Interest due but not paid at end of financial
0 0 0 0
year
Interest accrued but not due at end of
0 0 0 0
financial year
Total indebtedness at end of financial year 3,607.15 3,607.15 1,965.99 1,965.99
Details of indebtedness of company [Table] ..(2)

Indebtedness [Axis] Unsecured loans [Member] Deposits [Member]
01/04/2014 01/04/2014
to 31/03/2014 to 31/03/2014
31/03/2015 31/03/2015
Details of indebtedness of company [Abstract]
Details of indebtedness of company [LineItems]
Changes in indebtedness [Abstract]
Addition in indebtedness 0 0
Reduction in indebtedness 0 0
Total changes in indebtedness 0 0
Principal amount at end of financial year 1,641.16 1,641.16 0 0
Interest due but not paid at end of financial
0 0 0 0
year
Interest accrued but not due at end of
0 0 0 0
financial year
Total indebtedness at end of financial year 1,641.16 1,641.16 0 0
Details of directors signing board report [Table] ..(1)

Directors signing board report [Axis] M1 M2
01/04/2014 01/04/2014
to to
31/03/2015 31/03/2015
Details of signatories of board report [Abstract]
Details of directors signing board report [LineItems]
Name of director signing board report [Abstract]
First name of director MUKESH SHRAWAN
Middle name of director KUMAR KUMAR
Last name of director RATHI TODI
Designation of director Director Director
Director identification number of director 06683723 00080303
Date of signing board report 29/05/2015 29/05/2015
3
Details of change in promoters? shareholding [Table] ..(1)

Promoters [Axis] NA
Shareholding at
Change in shareholding [Axis] beginning of year
[Member]
01/04/2014
to
31/03/2015
Total number of shares held at end of period [shares] 0
Percentage of total shares held at end of period 0.00%
Details of change in promoters? shareholding [Abstract]
Details of change in promoters? shareholding [LineItems]
Name of promoter NA
Increase decrease in shareholding during year [shares] 0
Percentage increase decrease in shareholding during year 0.00%
Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(1)

Material contracts/arrangements/transactions at arm's length basis [Axis] NA
31/03/2015
Details of material contracts/arrangements/transactions at arm's length basis [Abstract]
Details of material contracts/arrangements/transactions at arm's length basis [LineItems]
Amount paid as advances if any for material contracts/arrangements/transactions with related party 0
4

01/04/2014
to
31/03/2015
Textual information (1)
Disclosure in board of directors report explanatory [TextBlock] [See below]
Description of state of companies affair [See below]
3. Reserves There is no
Disclosure relating to amounts if any which is proposed to carry to any such amount which the
reserves Board proposes to carry
to any reserves.
2. Dividend Due to non
availability of
distributable profit,
Disclosures relating to amount recommended to be paid as dividend the directors do not
recommend any dividend
for the period under
review.
Details regarding energy conservation [See below]
Details regarding technology absorption [See below]
Q. FOREIGN EXCHANGE
EARNINGS AND OUTGO
Details regarding foreign exchange earnings and outgo Rs./Lakhs Earnings
: 3982.99 Outgo :
1937.94
Disclosures in director?s responsibility statement [See below]
Details of material changes and commitment occurred during period
No Remarks
affecting financial position of company
Particulars of loans guarantee investment under section 186 [TextBlock] [See below]
Particulars of contracts/arrangements with related parties under section Textual information (7)
188(1) [TextBlock] [See below]
Disclosure of extract of annual return as provided under section 92(3) Textual information (8)
[TextBlock] [See below]
Details of change in promoters shareholding [TextBlock]
Details of shareholding pattern of directors and key managerial
personnel [TextBlock]
Disclosure of statement on declaration given by independent directors Textual information (9)
under section 149(6) [TextBlock] [See below]
Disclosure for companies covered under section 178(1) on
directors appointment and remuneration including other matters [See below]
provided under section 178(3) [TextBlock]
Disclosure of statement on development and implementation of risk Textual information (11)
management policy [TextBlock] [See below]
Details on policy development and implementation by company on
corporate social responsibility initiatives taken during year [See below]
[TextBlock]
Disclosure as per rule 8(5) of companies accounts rules 2014 [TextBlock]
Disclosure of financial summary or highlights [TextBlock] [See below]
Disclosure of change in nature of business [TextBlock] No Remarks
Details of directors or key managerial personnels who were Textual information (14)
appointed or have resigned during year [TextBlock] [See below]
Disclosure of companies which have become or ceased to be its
subsidiaries, joint ventures or associate companies during No Remarks
year [TextBlock]
Details relating to deposits covered under chapter v of companies act Textual information (15)
Details of deposits which are not in compliance with requirements Textual information (16)
of chapter v of act [TextBlock] [See below]
N o
Details of significant and material orders passed by Remarks
regulators or courts or tribunals impacting going concern
status and company?s operations in future [TextBlock]
5
Details regarding adequacy of internal financial controls with Textual information (17)
reference to financial statements [TextBlock] [See below]
Disclosure of appointment and remuneration of managerial personnels Textual information (18)
Number of meetings of board 4
6
Disclosure in board of directors report explanatory [Text Block]

Directors' Report
To the Members,
The Directors hereby present their 20th Annual Report along with the Audited Statement of Accounts for the year ended 31st March, 2015.
1. Financial Highlights
The company's financial performance, for the year ended March 31, 2015 is summarized below
(Rupees in Crores)
2014-15 2013-14
(i) Gross Sales 143.79 130.55
(ii) Net Sales/Income from operations (net of excise) 137.51 126.04
(iii) Other Income 12.38 2.98
(iv) Profit/(Loss) before Interest, Depreciation, Tax (0.89) (6.36)
(v) Interest and Finance Charges 7.56 5.77
(vi) Depreciation 3.32 2.16
(vii) Profit/(Loss) before Tax (11.77) (14.29)
(viii) Less: Provision for Taxes
- Current Tax (MAT)
- Income Tax Provision for earlier years
(ix) Profit/(Loss) after Tax (11.77) (14.29)
(ix) Balance brought forward from Previous Year (24.36) (10.07)
(x) Amount available for Appropriation
(xi) Appropriations:
7
Balance carried to Balance Sheet (36.13) (24.36)
2. Dividend
Due to non availability of distributable profit, the directors do not recommend any dividend for the period under review.
3. Reserves
There is no such amount which the Board proposes to carry to any reserves.
4. Operating Results:
The gross sales and net sales for the year stood at Rs. 143.79 crores and Rs. 137.51 crores, respectively registering a growth of 10.14% of the
previous year. The Ferro Alloys operation of the company have been badly hit due to the continuing excess supply position of Ferro Alloys in the
industry leading to uneconomical finished products realization. The problem has been compounded further due to the increase in cost of inputs
and specially the increase in power tariff by Damodar Valley Corporation and that caused the company loss of Rs. 11.77 crores for the year in
comparison to net loss of Rs. 14.29 crores in the previous year.
5. Corporate Governance Report, Management Discussion and Analysis and other information required under the Companies Act, 2013
and Listing Agreement
As per clause 49 of the Listing Agreements entered into with the Stock Exchanges, a Management Discussion and Analysis, Corporate
Governance Report, Directors and Auditors' Certificate regarding compliance of conditions of Corporate Governance are forming part of this
Report.
Various information required to be disclosed under the Act and the Listing Agreement is set out in the Annexure ï¿½I and forms part of this
report.
6. Directors' Responsibility Statement
Pursuant to the requirement of section 134(5) of the Act, and based on the representations received from the management, the directors hereby
confirm that:
a) in the preparation of Annual Accounts for the financial year 2014-15, the applicable accounting standards have been followed along
with the proper explanation relating to material departure;
b) they have 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 the financial year;
c) they have taken proper and sufficient care to the best of their knowledge and ability for the maintenance of adequate accounting records
in accordance with the provisions of the Companies Act, 2013. They confirm that there are adequate systems and controls for safeguarding the
assets of the company and for preventing and detecting fraud and other irregularities;
d) they have prepared the annual accounts on a going concern basis.
e) they have laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and
operating properly; and
f) they have devised proper systems to ensure compliance with the provisions of all applicable laws and that such system were adequate
and operating effectively.
7. Particulars of Employees
8
The information required under section 197 of the Act and rules made thereunder, in respect of employees of the company, is provided in
Annexure ï¿½I forming part of this Report.
8. Corporate Social Responsibility (CSR)
The company does not meet any of criteria as specified under section 135 of the Act and hence no compliance required in this regard.
9. Board Evaluation
The performance evaluation of the Board, its Committees and individual directors was conducted and the same was based on questionnaire and
feedback from all the Directors on the Board as a whole, Committees and self- evaluation.
10. Conservation of energy, technology absorption, foreign exchange earnings and outgo
The particulars as prescribed under Rule 8(3) of the Companies (Accounts) Rules, 2014, are set out in an Annexure ï¿½I, forming part of this
report.
11. Auditors and Secretarial Auditors Report
There is no disqualification, reservation or adverse remarks or disclaimers in the Auditors and Secretarial Auditors Report.
12. Deposit
The Company has not accepted any public deposits and, as such, no amount on account of principal or interest on public deposits was outstanding
on that date of the Balance Sheet.
13. Directors and Key Managerial Personnel
In accordance with Articles of Association of the Company, Mr. Shrawan Kumar Todi, Director, retires by rotation and being eligible have
offered himself for re-appointment.
None of the Directors of the Company is disqualified under Section 274(1)(g) of the Companies Act, 1956.
Mr. Krishna Kumar Rungta has resigned and Mr. Sanjeev Agarwal has been appointed as Independent Director with effective from 5th January,
2015.
All directors are individuals of integrity and courage, with relevant skills and experience to bring judgment to bear on the business of the
Company.
14. Auditors' Report
Regarding Auditors' remarks for non-provision of deferred tax, your directors have to state that in consideration of prudence, deferred tax has not
been recognized in the financial statements and the same would be considered at the appropriated time keeping in view of the availability of
sufficient taxable income against which such deferred tax can be realized. Rest of the Auditors' Report are self-explanatory and therefore, do not
call for any further comments.
15. Auditors
Pursuant to the provisions of section 139 of the Act and the rules framed thereunder, M/s. K. N. Gutgutia and Co., Chartered Accountants, were
appointed as Statutory Auditors of the company from the conclusion of the 20th Annual General Meeting (AGM) of the company and they have
9
expressed their willingness to accept reappointment and have further confirmed their eligibility in accordance of the Companies Act, 2013.
16. Acknowledgements
Your Directors wish to express their gratitude to the Commercial Banks and Damodar Valley Corporation for their continuous assistance and
co-operation. The directors place on record their appreciation for the devoted services rendered by the workers, staff and executives of the
company.
For and on behalf of the Board of Directors
S.K. Todi M. K. Rathi
Director Director
Kolkata, 29th May, 2015
ANNEXURE-I TO THE DIRECTORS' REPORT
Information pursuant to first proviso to sub section (3) of section 129 of the Companies Act, 2013, read with Rule 5 of the Companies (Accounts)
Rules, 2004 forming part of Directors' Report.
A. EXTRACT OF ANNUAL RETURN
The extract of Annual Return as provided under Sub-Section (3) of Section 92 of the Companies Act, 2013 (the Act) is enclosed at Annexure ï¿½I
in the prescribed form MGT -9 and forms part of this Report.
B. NUMBER OF MEETINGS OF THE BOARD
4 meetings of the Board of directors of the company were held during the year. For detail of the meetings, please refer to the Corporate
Governance Report, which forms part of this Report.
C. INDEPENDENT DIRECTORS' DECLARATION
Mr. Sanjeev Agarwal who is Independent Director, has submitted a declaration that he meets the criteria of independence as provided in Sub
Section (6) of Section 149 of the Act and revised Clause 49 of the Listing Agreement. Further, there has been no change in the circumstances
which may affect their status as independent director during the year.
D. POLICY OF DIRECTORS' APPOINTMENT AND REMMUNERATION
Company's policy on Directors' appointment and remuneration including criteria for determining qualification, positive attributes, independence
of a director and other matters provided under section 178(3) of the Act are covered in the Corporate Governance Report which forms part of this
Report.
E. CODE OF CONDUCT FOR DIRECTORS AND SENIOR MANAGEMENT
The company has formulated and implemented a Code of Conduct for all Board Members and Senior Management of the company in compliance
with Clause 49 of the Listing Agreement. A declaration to this effect duly signed by a Director of the Company is annexed with this Report.
F. RELATIONSHIP BETWEEN DIRECTOR INTER-SE
None of the directors are related to each other within the meaning of the term ï¿½relativeï¿½ as per Section 2(77) of the Act and Clause
10
49(VIII)(E)(2) of the revised Listing Agreement.
G. PARTICULARS OF LOANS, GUARANTEES AND INVESTMENT
There have been no loans, guarantees, and investments under section 186 of the Act during the financial year 2014-15.
H. TRANSACTION WITH RELATED PARTIES
The company has entered into contract/arrangements with the related parties in the ordinary course of business and on arm's length basis. Thus
provisions of Section 188(1) of the Act are not applicable.
I. INTERNAL CONTROL
The information about internal controls is set out in the Management Discussion and Analysis Report which is attached and forms part of this
Report.
J. RISK MANAGEMENT
The Risk Management is overseen by the Audit Committee of the Company on a continuous basis. The Committee oversees Company's process
and policies for determining risk tolerance and review management's measurement and comparison of overall risk tolerance to established levels.
Major risks identified by the business and functions are systematically addressed through mitigating actions on a continuous basis.
K. VIGIL MECHANISM
The company has established a vigil mechanism for Directors and Employees to report their genuine concerns.
L. PECUNIARY RELATIONSHIP OR TRANSACTION OF NON-EXECUTIVE DIRECTORS
During the year, the Non Executive Directors of the Company had no pecuniary relationship or transaction with the Company.
M. PARTICULARS OF REMUNERATION
The information required under section 197 of the Act and the Rules made there under, in respect of employees of the Company, is follows:-
(a) The ratio of the remuneration of each director to the median remuneration of the employees of the company for the financial year;
Non ï¿½ Executive Directors Ratio to Median Remuneration
Mr. S. K. Todi NIL
Mr. K. K. Rungta NIL
Mr. S. Agarwal NIL
Executive Director
Mr. M. K. Rathi 4.41
(b) The percentage increase in remuneration of each Director, Chief Financial Officer, Company Secretary or Manager, if any, in the
11
financial year;
Name of Person % increase in remuneration
Mr. S. K. Todi NIL
Mr. S. Agarwal NIL
Mr. M. K. Rathi 37%
Mrs. C. Mohta NIL
(c) The percentage increase in the median remuneration of employees in the financial year; 23%
(d) The number of permanent employees on the rolls of company; 186 NOS
(e) The explanation on the relationship between average increase in remuneration and company performance; On an average employee
received an increase of 24%. The increase in remuneration is in line with the market trends. In order to ensure that remuneration reflects company
performance, the performance pay is linked to organization performance.
(f) Comparison of the remuneration of the Key Managerial Personnel against the performance of the company;
Particulars `/lac
Remuneration of KMP during F.Y. 2014-15 (aggregated) 9.95
Revenue from operations 14988.38
Remuneration (as % of revenue) 0.07%
Profit before tax (PBT) (1176.91)
Remuneration (as % of PBT) 0.85%
(g) Variation in the market capitalization of the company, price earnings ratio as at the closing date of the current financial year and
previous financial year and percentage increase over decrease in the market quotations of the share of the company in comparison to the rate at
which the company came out with the last public offer in case listed companies, and in case of unlisted companies, the variation in the net worth
of the company as at the close of the current financial year and previous financial year;
Particulars Unit As at 31st March, 2015 As at 31st March, 2014 Variation
Profit before tax (PBT) `/lac (1176.91) (1428.67) 17.62%
Earnings per Share (EPS) (9.42) (11.43) 17.59%
Shares of the company are not publically traded and bracket represents negative figures
12
(h) Average percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and
its comparison with the percentile increase in the managerial remuneration and justification thereof and point out if there are any exceptional
circumstances for increase in the managerial remuneration;
The average increase in salaries of employees other than managerial personnel in 2014-15 was 26%. Percentage increase in the managerial
remuneration for the year was 37%
(i) The ratio of the remuneration of the highest paid director to that of the employees who are not directors but receive remuneration in
excess of the highest paid director during the year;
Name of Employee Ratio to Director's remuneration
Mr. G. Dokania 0.85
Mr. J. Koteswar Rao 0.63
Mr. A. Garodia 0.53
(j) The key parameters for any variable component of remuneration availed by the directors;
Not applicable.
(k) Affirmation that the remuneration is as per the remuneration policy of the company
The Company's remuneration policy is driven by the success and performance of the individual employees and the Company through its
compensation package, the company endeavours to attract, retain, develop and motivate a high performance staff. The company affirms
remuneration is as per the remuneration policy of the company.
N. CONSERVATION OF ENERGY
I) Energy conservation measures taken:
Energy conservation is being pursued with considerable focus and commitment by the Management through improved operational and
maintenance practices. Steps taken by the Company in this direction are as under:
a) Correcting the alignment of drive and driven pullies.
b) Up-gradation of old furnaces to make it energy efficient.
c) Melting operations are consolidated in economical lot sizes for optimum furnace utilization in Foundry Division.
d) Power consumption are measured and monitored at various consumption points by metering and corrective action is taken to ensure minimum
wastage.
II) Proposals under Study and Implementation;
Replacement of old Equipments with new energy efficient Equipments.
III) Impact to measures of (I) and (II) above for reduction of energy consumption and consequent impact on cost of production of goods:
13
The above measures will result in saving of energy and corresponding reduction in cost of goods.
FORM A 2014-2015
a) Power and Fuel Consumption:
1) Electricity:
i) Purchased :
Units (KWH in Lacs) 852.074
Total Amount (Rs. in Lacs ) 3908.53
Rate/Unit (Rs.) 4.59
ii) Own Generation :
*Through Diesel Generator (Unit) -
Units generated per Litre of Diesel Oil -
Cost/ Unit (Rs.)
b) Consumption per unit of production: 2014- 2015
Ferro Alloys SGCI Inserts. Steel Billets
MT Pcs. MT
Production (MT) 18166 3327481 -
Electricity per MT of production ï¿½ Unit 4227.37 1.70 -
Coal per MT of production ï¿½ Kg. - - -
Generator was not used for production.
O. TECHNOLOGY ABSORPTION
FORM-B
Research and Development (R and D)
a) Specific area in which R and D carried out by the Company
To maximize furnace utilization.
14
b) Benefits derived as a result of R and D
Research and development work has helped in increasing quantity of production of the Units.
c) Expenditure on R and D
Research work is undertaken indigenously as such no specific expenses on R and D are apportionable.
P. TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION
The technology is continually upgraded to meet the demanding market conditions. Quality of products manufactured by this company is well
appreciated by the user industries including overseas markets.
Q. FOREIGN EXCHANGE EARNINGS AND OUTGO Rs./Lakhs
Earnings : 3982.99
Outgo : 1937.94
For and on behalf of the Board of Directors
S.K. Todi M. K. Rathi
Director Director
Kolkata, 29th May, 2015
Description of state of companies affair

Operating Results: The gross sales and net sales for the year stood at Rs. 143.79 crores and Rs. 137.51 crores, respectively registering a growth of
10.14% of the previous year. The Ferro Alloys operation of the company have been badly hit due to the continuing excess supply position of
Ferro Alloys in the industry leading to uneconomical finished products realization. The problem has been compounded further due to the increase
in cost of inputs and specially the increase in power tariff by Damodar Valley Corporation and that caused the company loss of Rs. 11.77 crores
for the year in comparison to net loss of Rs. 14.29 crores in the previous year.
Details regarding energy conservation

N. CONSERVATION OF ENERGY I) Energy conservation measures taken: Energy conservation is being pursued with considerable focus and
commitment by the Management through improved operational and maintenance practices. Steps taken by the Company in this direction are as
under: a) Correcting the alignment of drive and driven pullies. b) Up-gradation of old furnaces to make it energy efficient. c) Melting operations
are consolidated in economical lot sizes for optimum furnace utilization in Foundry Division. d) Power consumption are measured and monitored
at various consumption points by metering and corrective action is taken to ensure minimum wastage. II) Proposals under Study and
Implementation; Replacement of old Equipments with new energy efficient Equipments. III) Impact to measures of (I) and (II) above for
reduction of energy consumption and consequent impact on cost of production of goods: The above measures will result in saving of energy and
corresponding reduction in cost of goods.
15
Details regarding technology absorption

The above measures will result in saving of energy and corresponding reduction in cost of goods. FORM A 2014-2015 a) Power & Fuel
Consumption: 1) Electricity: i) Purchased : Units (KWH in Lacs) 852.074 Total Amount (Rs. in Lacs ) 3908.53 Rate/Unit (Rs.) 4.59 ii) Own
Generation : *Through Diesel Generator (Unit) - Units generated per Litre of Diesel Oil - Cost/ Unit (Rs.) b) Consumption per unit of production:
2014- 2015 Ferro Alloys SGCI Inserts. Steel Billets MT Pcs. MT Production (MT) 18166 3327481 - Electricity per MT of production - Unit
4227.37 1.70 - Coal per MT of production - Kg. - - - Generator was not used for production. O. TECHNOLOGY ABSORPTION FORM-B
Research and Development (R & D) a) Specific area in which R & D carried out by the Company To maximize furnace utilization. b) Benefits
derived as a result of R & D Research and development work has helped in increasing quantity of production of the Units. c) Expenditure on R &
D Research work is undertaken indigenously as such no specific expenses on R & D are apportionable. P. TECHNOLOGY ABSORPTION,
ADAPTATION AND INNOVATION The technology is continually upgraded to meet the demanding market conditions. Quality of products
manufactured by this company is well appreciated by the user industries including overseas markets.
Disclosures in director?s responsibility statement

6. Directors' Responsibility Statement Pursuant to the requirement of section 134(5) of the Act, and based on the representations received from
the management, the directors hereby confirm that: a) in the preparation of Annual Accounts for the financial year 2014-15, the applicable
accounting standards have been followed along with the proper explanation relating to material departure; b) they have 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 the financial year; c) they have taken
proper and sufficient care to the best of their knowledge and ability for the maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 2013. They confirm that there are adequate systems and controls for safeguarding the assets of the company and
for preventing and detecting fraud and other irregularities; d) they have prepared the annual accounts on a going concern basis. e) they have laid
down internal financial controls to be followed by the company and that such internal financial controls are adequate and operating properly; and
f) they have devised proper systems to ensure compliance with the provisions of all applicable laws and that such system were adequate and
operating effectively.
Particulars of loans guarantee investment under section 186 [Text Block]
G. PARTICULARS OF LOANS, GUARANTEES AND INVESTMENT
There have been no loans, guarantees, and investments under section 186 of the Act during the financial year 2014-15.
Particulars of contracts/arrangements with related parties under section 188(1) [Text Block]
TRANSACTION WITH RELATED PARTIES
The company has entered into contract/arrangements with the related parties in the ordinary course of business and on arm's length basis. Thus
provisions of Section 188(1) of the Act are not applicable.
16
Disclosure of extract of annual return as provided under section 92(3) [Text Block]
A. EXTRACT OF ANNUAL RETURN
The extract of Annual Return as provided under Sub-Section (3) of Section 92 of the Companies Act, 2013 (ï¿½the Actï¿½) is enclosed at
Annexure ï¿½I in the prescribed form MGT -9 and forms part of this Report.
FORM NO. MGT - 9
EXTRACT OF ANNUAL RETURN
as on the financial year ended March 31, 2015
[Pursuant to Section 92(3) of the Companies Act, 2013, and Rule 12(1) of the Companies (Management and Administration) Rules, 2014]
I. Registration and other details
CIN L51109WB1995PLC071126
Registration Date 19TH April, 1995
Name of the Company BHASKAR SHRACHI ALLOYS LTD
Category / Sub-Category of the Company Company having Share Capital
Address of the Registered Office and contact details 8/1 Middleton Row, Kolkata - 700 071;
Telephone: (033) 22298877
Whether listed company Yes
Name, address and contact details of Maheswari Datamatics Pvt. Ltd.
6, Mangoe Lane,
Kolkata ï¿½ 700 001 PH: (033) 22435029/5809
17
Registrar and Transfer Agent, if any NA
VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL
A. Remuneration to Managing Director, Whole Time Director and/or Manager:
Name of Whole Time Director: Mr. M. K. Rathi Lac
1. Gross Salary: 4.19
Salary as per provisions contained in section 17(1)
of the Income Tax Act, 1961 4.19
Value of perquisites u/s 17(2) of Income Tax Act, 1961 ----
Profits in lieu of salary u/s 17(3) Income Tax Act, 1961 ----
2. Stock Option ----
3. Sweat equity ----
4. Commission ----
5. Other Retirement Benefits
Total 4.19
Ceiling as per the Act 30.0
B. Remuneration to other Director: Lac
Mr. S.K. Todi NIL
Mr. K.K. Rungta NIL
Mr. S. Agarwal NIL
C. Remuneration to Key Managerial Personnel other than MD/Manager/WTD
18
Name of Key Managerial Personnel: Mrs. C. Mohta Lac
1. Gross Salary: 0.16
Salary as per provisions contained in section 17(1)
of the Income Tax Act, 1961 0.16
Value of perquisites u/s 17(2) of Income Tax Act, 1961 ----
Profits in lieu of salary u/s 17(3) Income Tax Act, 1961 ----
2. Stock Option ----
3. Sweat equity ----
4. Commission ----
5. Other Retirement Benefits ---
Total 0.16
1. Shareholding of Promoters
Details of Encumbered % change in share holding during the

Sl. No. Name of the shareholder
shares held shares (*) year
No. of As a % of total shares of the As a % of grand total (A)+(B)+(C) of

Number As a %age
shares held company sub-clause (I)(a)
(VI)=
(I) (II) (III) (IV) (V) (VII)
(V)/(III) *100
1. Shrawan Kr. Todi 6,38,100 5.1048 6,08,100 95.2985 4.8648 0
2. Ravi Todi 6,15,000 4.9200 6,15,000 100.000 4.9200
3. Rahul Todi 4,50,000 3.6000 4,50,000 100.000 3.6000
Shrawan Kr. Ravi Todi

4. 1,28,500 1.0280 - - -
(HUF)
19
5. Manish Rungta 1,10,100 0.8808 60,000 54.4959 0.4800
6. Ashish Rungta 1,10,000 0.8800 60,000 54.5455 0.4800
7. Chitra Lekha Todi 1,06,400 0.8512 - - -
8. Ravi Todi (HUF) 66,000 0.5280 - - -
9. Krishna Kumar Rungta 61,600 0.4928 60,100 97.5649 0.4808
10. Sabina Rungta 60,000 0.4800 - - -
11. Ravi Todi Family Trust 55,000 0.4400 - - -
12. Shrawan Kr. Todi 38,100 0.3048 - - -
13. Shrawan Kumar Todi 50,000 0.4000 - - -
14. Garima Rungta 40,000 0.3200 40,000 100 0.3200
15. Shankar Kumar Somani 32,500 0.2600 - - -
16. Shri Balaji Nidhi 30,000 0.2400 - - -
17. Shrawan Kr. Todi 20,500 0.1640 - - -
18. Girija Kumar Choudhury 20,000 0.1600 - - -
19. Vinita Sharma 20,000 0.1600 - - -
20. Padam Chand Dugar 15,000 0.1200 - - -
21. Shrawan Kumar Todi 15,000 0.1200
22. Atul Kr. Gupta 15,000 0.1200 - - -
23. Bishnu Chand Yadav 15,000 0.1200 - - -
24. Mahesh Gupta 15,000 0.1200 - - -
25. Mamata Sharma 15,000 0.1200 - - -
20
26. Kishori Devi Mandiwal 12,500 0.1000 - - -
27. Manish Kr. Agarwal 12,500 0.1000 - - -
28. Sudha Devi Sultania 11,500 0.0920 - - -
29. Pradip Kr. Patodia 10,100 0.0808 100 0.99 0.0008
30. Anila Devi Sultania 10,000 0.0800 - - -
31. Deonath Prasad Gupta 10,000 0.0800 - - -
32. Pawan Kr. Rungta 10,000 0.0800 - - -
33. Praveen Kr. Bhalotia 10,000 0.0800 - - -
34. Sunita Agarwal 10,000 0.0800 - - -
35. Bimala Debi Verma 10,000 0.0800 - - -
36. Rina Pramanick 10,000 0.0800 - - -
37. Susanta Pramanick 10,000 0.0800 - - -
38. Prayagraj Sharma 10,000 0.0800 - - -
39. Ganga Devi Sharma 10,000 0.0800 - - -
40. Kamleshwar Prasad Singh 10,000 0.0800 - - -
41. Ajoy Kr. Patodia 10,000 0.0800 - - -
42. Deonath Prasad Gupta 10,000 0.0800 - - -
43. Gopal Kr. Gupta 10,000 0.0800 - - -
44. Mahendrapal Verma 10,000 0.0800 - - -
45. Geeta Devi Varma 10,000 0.0800 - - -
46. Satya Narayan Verma 10,000 0.0800 - - -
47. Lokenath Patodia (HUF) 10,000 0.0800 - - -
21
48. Ratan Kr. Sharma 10,000 0.0800 - - -
49. Mahesh Kr. Gupta 10,000 0.0800 - - -
50. Anup Kr. Khaitan 10,000 0.0800 - - -
51. Bijay Kr. Thakur 10,000 0.0800 - - -
52. Pawan Kr. Jaju 10,000 0.0800 - - -
53. Manju Devi Agarwal 10,000 0.0800 - - -
54. Praveen Kr. Bhalotia 10,000 0.0800 - - -
55. Sujit Kr. Gupta 10,000 0.0800 - - -
56. Krishna Kumar Patodia 10,000 0.0800 - - -
57. Kavita Sharma 7,500 0.0600 - - -
58. Atul Kr. Gupta 7,500 0.0600 - - -
59. Kanta Devi Seksaria 7,500 0.0600 - - -
60. Manju Patodia 6,500 0.0520 - - -
61. Govind Prasad Todi 6,000 0.0480 - - -
Om Prakash Srivastava
62. 5,000 0.0400 - - -
(HUF)
63. Meenu Jain 5,000 0.0400 - - -
64. Satish Goel 5,000 0.0400 - - -
65. Subhas Roy 5,000 0.0400 - - -
66. Samir Pramanick 5,000 0.0400 - - -
67. Chotulal Singh 5,000 0.0400 - - -
68. Bimal Kr. Seksaria 5,000 0.0400 - - -
22
69. Savitri Devi Chenani 5,000 0.0400 - - -
70. Sanjay Kr. Chenani 5,000 0.0400 - - -
71. Lokenath Patodia 5,000 0.0400 - - -
72. Sunil Kr. Patodia 5,000 0.0400 - - -
73. Ajay Kr. Rungta 5,000 0.0400 - - -
74. Nand Kishore Shaw 5,000 0.0400 - - -
75. Keshar Chand Jain 5,000 0.0400 - - -
76. Usha Patodia 5,000 0.0400 - - -
77. Dayanand Agarwal 5,000 0.0400 - - -
78. Gopal Kr. Bajaj 5,000 0.0400 - - -
79. Shrawan Kr. Todi 2,000 0.0160 - - -
80. Padam Chand Dugar 1,500 0.0120 - - -
81. Tulsyan and Sons Pvt. Ltd. 15,00,000 12.0000 - - -
Bengal General Trading Co.

82. 7,33,200 5.8656 7,33,200 100 5.8656
Pvt. Ltd.
83. Binod Resources Pvt. Ltd. 5,00,000 4.0000 - - -
84. R.A. Trading Pvt. Ltd. 2,50,000 2.0000 - - -
85. Suryalata Texim Pvt. Ltd. 2,50,000 2.0000 - - -
Usha Polychem India Pvt.

86. 2,50,000 2.0000 - - -
Ltd.
87. Ashiana Properties Pvt. Ltd. 2,50,000 2.0000 - - -
Lodhasons Consultancy
88. 2,05,000 1.6400 - - -
Services Pvt. Ltd.
89. Frankross Vinimay Pvt. Ltd. 1,80,000 1.4400 - - -
23
90. Dilip Agencies Pvt. Ltd. 1,75,000 1.4000 - - -
91. Bajrangbali Foundry Pvt. Ltd. 1,32,500 1.0600 - - -
92. Sulabh Resources Pvt. Ltd. 1,25,000 1.0000 - - -
93. Ulike Developers Pvt. Ltd. 1,10,000 0.8800 - - -
94. GNB Credit Pvt. Ltd. 1,03,500 0.8280 73,500 71.0145 0.5880
95. GNB Logistics Pvt. Ltd. 1,00,000 0.8000 - - -
96. Tanisha Business Pvt. Ltd. 1,00,000 0.8000 - - -
Priya Purnima Credit Pvt.

97. 1,00,000 0.8000 - - -
Ltd.
98. Carbide Asia Pvt. Ltd. 75,000 0.6000 - - -
Kalpataru Housing and

99. 70,000 0.5600 - - -
Trading Pvt. Ltd.
100. Bothra Suitings Pvt. Ltd. 60,000 0.4800 - - -
101. Aarkey Tie Up Pvt. Ltd. 58,500 0.4680 - - -
102. PSB Investments Pvt. Ltd. 50,000 0.4000 - - -
103. K.D. Jagholdings Pvt. Ltd. 50,000 0.4000 - - -
KSK Share and Stock Brokers

104. 50,000 0.4000 - - -
Pvt. Ltd.
105. Navi Plast Suppliers 50,000 0.4000 - - -
106. Neha Bearing Co. Pvt. Ltd. 50,000 0.4000 - - -
107. Classic Share Dealers Ltd. 50,000 0.4000 - - -
108. Essel Plowood Pvt. Ltd. 30,000 0.2400 - - -
109. Apeotex Ply Pvt. Ltd. 30,000 0.2400 - - -
110. Seksariah Enclaves Pvt. Ltd. 26,000 0.2080 - - -
24
111. GMB Finvest Pvt. Ltd. 25,000 0.2000 - - -
112. Everlest Fincon Pvt. Ltd. 25,000 0.2000 - - -
Chinar Builders and

113. 19,000 0.1520 - - -
Contractors Ltd.
Satyam Trade Centre Pvt.

114. 12,500 0.1000 - - -
Ltd.
Martina Financial Services

115. 10,000 0.0800 - - -
Pvt. Ltd.
116. Suave Business Pvt. Ltd. 5,000 0.0400 - - -
117. Bagrun Trade Centre Pvt. Ltd. 5,000 0.0400 - - -
118. Sujata Todi 2,50,000 2.0000
Total : 92,47,100 73.9768 27,00,000 21.6 0
Disclosure of statement on declaration given by independent directors under section 149(6) [Text Block]
C. INDEPENDENT DIRECTORS' DECLARATION
Mr. Sanjeev Agarwal who is Independent Director, has submitted a declaration that he meets the criteria of independence as provided in Sub
Section (6) of Section 149 of the Act and revised Clause 49 of the Listing Agreement. Further, there has been no change in the circumstances
which may affect their status as independent director during the year.
Disclosure for companies covered under section 178(1) on directors appointment and remuneration including other
matters provided under section 178(3) [Text Block]
D. POLICY OF DIRECTORS' APPOINTMENT AND REMMUNERATION
Company's policy on Directors' appointment and remuneration including criteria for determining qualification, positive attributes, independence
of a director and other matters provided under section 178(3) of the Act are covered in the Corporate Governance Report which forms part of this
Report.
25
Disclosure of statement on development and implementation of risk management policy [Text Block]
J. RISK MANAGEMENT
The Risk Management is overseen by the Audit Committee of the Company on a continuous basis. The Committee oversees Company's process
and policies for determining risk tolerance and review management's measurement and comparison of overall risk tolerance to established levels.
Major risks identified by the business and functions are systematically addressed through mitigating actions on a continuous basis.
Details on policy development and implementation by company on corporate social responsibility initiatives taken
during year [Text Block]
8. Corporate Social Responsibility (CSR)
The company does not meet any of criteria as specified under section 135 of the Act and hence no compliance required in this regard.
26
Disclosure of financial summary or highlights [Text Block]

Financial Highlights
The company's financial performance, for the year ended March 31, 2015 is summarized below
(Rupees in Crores)
2014-15 2013-14
(i) Gross Sales 143.79 130.55
(ii) Net Sales/Income from operations (net of excise) 137.51 126.04
(iii) Other Income 12.38 2.98
(iv) Profit/(Loss) before Interest, Depreciation, Tax (0.89) (6.36)
(v) Interest and Finance Charges 7.56 5.77
(vi) Depreciation 3.32 2.16
(vii) Profit/(Loss) before Tax (11.77) (14.29)
(viii) Less: Provision for Taxes
- Current Tax (MAT)
- Income Tax Provision for earlier years
(ix) Profit/(Loss) after Tax (11.77) (14.29)
(ix) Balance brought forward from Previous Year (24.36) (10.07)
(x) Amount available for Appropriation
(xi) Appropriations:
Balance carried to Balance Sheet (36.13) (24.36)
27
Details of directors or key managerial personnels who were appointed or have resigned during year [Text Block]
2015.
Company.
Details relating to deposits covered under chapter v of companies act [Text Block]
12. Deposit
28
Details of deposits which are not in compliance with requirements of chapter v of act [Text Block]
12. Deposit
Details regarding adequacy of internal financial controls with reference to financial statements [Text Block]
I. INTERNAL CONTROL
The information about internal controls is set out in the Management Discussion and Analysis Report which is attached and forms part of this
Report.
29
Disclosure of appointment and remuneration of managerial personnels [Text Block]

2015.
Company.
PARTICULARS OF REMUNERATION
The information required under section 197 of the Act and the Rules made there under, in respect of employees of the Company, is follows:-
(a) The ratio of the remuneration of each director to the median remuneration of the employees of the company for the financial year;
Non ï¿½ Executive Directors Ratio to Median Remuneration
Mr. S. K. Todi NIL
Mr. S. Agarwal NIL
Executive Director
Mr. M. K. Rathi 4.41
(b) The percentage increase in remuneration of each Director, Chief Financial Officer, Company Secretary or Manager, if any, in the
financial year;
Name of Person % increase in remuneration
Mr. S. K. Todi NIL
Mr. S. Agarwal NIL
Mr. M. K. Rathi 37%
30
Mrs. C. Mohta NIL
(c) The percentage increase in the median remuneration of employees in the financial year; 23%
(d) The number of permanent employees on the rolls of company; 186 NOS
(e) The explanation on the relationship between average increase in remuneration and company performance; On an average employee
received an increase of 24%. The increase in remuneration is in line with the market trends. In order to ensure that remuneration reflects company
performance, the performance pay is linked to organization performance.
(f) Comparison of the remuneration of the Key Managerial Personnel against the performance of the company;
Particulars `/lac
Remuneration of KMP during F.Y. 2014-15 (aggregated) 9.95
Revenue from operations 14988.38
Remuneration (as % of revenue) 0.07%
Profit before tax (PBT) (1176.91)
Remuneration (as % of PBT) 0.85%
(g) Variation in the market capitalization of the company, price earnings ratio as at the closing date of the current financial year and
previous financial year and percentage increase over decrease in the market quotations of the share of the company in comparison to the rate at
which the company came out with the last public offer in case listed companies, and in case of unlisted companies, the variation in the net worth
of the company as at the close of the current financial year and previous financial year;
Particulars Unit As at 31st March, 2015 As at 31st March, 2014 Variation
Profit before tax (PBT) `/lac (1176.91) (1428.67) 17.62%
Earnings per Share (EPS) (9.42) (11.43) 17.59%
Shares of the company are not publically traded and bracket represents negative figures
(h) Average percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and
its comparison with the percentile increase in the managerial remuneration and justification thereof and point out if there are any exceptional
circumstances for increase in the managerial remuneration;
The average increase in salaries of employees other than managerial personnel in 2014-15 was 26%. Percentage increase in the managerial
remuneration for the year was 37%
(i) The ratio of the remuneration of the highest paid director to that of the employees who are not directors but receive remuneration in
excess of the highest paid director during the year;
Name of Employee Ratio to Director's remuneration
31
Mr. G. Dokania 0.85
Mr. J. Koteswar Rao 0.63
Mr. A. Garodia 0.53
(j) The key parameters for any variable component of remuneration availed by the directors;
Not applicable.
(k) Affirmation that the remuneration is as per the remuneration policy of the company
The Company's remuneration policy is driven by the success and performance of the individual employees and the Company through its
compensation package, the company endeavours to attract, retain, develop and motivate a high performance staff. The company affirms
remuneration is as per the remuneration policy of the company.
32
[400200] Disclosures - Auditors report
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Table] ..(1)
Auditor's Clause not
Auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Axis] favourable remark applicable
[Member] [Member]
01/04/2014 01/04/2014
to to
31/03/2015 31/03/2015
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in
auditors' report [Abstract]
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in
auditors' report [LineItems]
Textual information
Disclosure in auditors report relating to fixed assets (19) [See below]
i). a. The company
has maintained
proper records
showing full
Disclosure relating to quantitative details of fixed assets particulars including
quantitative details
and situation of fixed
assets.
Disclosure relating to physical verification and material discrepancies of fixed Textual information
assets (20) [See below]
Textual information
Disclosure in auditors report relating to inventories (21) [See below]
ii) a. The inventory
has been physically
verified during the
year by the
Disclosure of physical verification of inventories at fixed intervals management. In our
opinion, the
frequency of
verification is
reasonable.
b. The procedures of
physical verification
of inventories
followed by the
management are
Disclosure of procedure followed for physical verification of inventories reasonable and
adequate in relation
to the size of the
company and the
nature of its
business.
c. The company is
maintaining proper
records of inventory
except Stores &
Spares. The
Disclosure about maintenance of inventory records and material discrepancies discrepancies
noticed on
verification between
the physical stocks
and the book records
were not material.
Textual information
Disclosure in auditors report relating to loans (22) [See below]
Textual information
Disclosure in auditors report relating to internal control system (23) [See below]
Textual information
Disclosure in auditors report relating to deposits accepted (24) [See below]
Textual information
Disclosure in auditors report relating to maintenance of cost records (25) [See below]
Textual information
Disclosure in auditors report relating to statutory dues [TextBlock] (26) [See below]
Disclosure relating to regularity in payment of undisputed statutory dues Textual information
[TextBlock] (27) [See below]
Textual information
Disclosure relating to disputed statutory dues [TextBlock] (28) [See below]
33
Disclosure relating to amount required to be transferred to investor education

No Remarks
and protection fund
Textual information
Disclosure in auditors report relating to accumulated losses (29) [See below]
Textual information
Disclosure in auditors report relating to default in repayment of financial dues (30) [See below]
x) The company has
not given guarantees
Disclosure in auditors report relating to guarantee given for loans taken by
others from banks or
financial institutions.
xi) In our opinion,
the term loans have
Disclosure in auditors report relating to term loans used for purpose other than
been applied for the
for purpose they were raised purpose for which
they were raised.
xii) According to the
information and
explanations given
to us, no fraud on or
Disclosure in auditors report relating to any material fraud reported during period by the company has
been noticed or
reported during the
course of our audit
Details regarding auditors [Table] ..(1)

Auditors [Axis] M1
01/04/2014
to
31/03/2015
Details regarding auditors [Abstract]
Details regarding auditors [LineItems]
Category of auditor Auditors firm
Name of audit firm K.N. Gutgutia & Co
Name of auditor signing report AMIT GHOSH
Firms registration number of audit firm 304153E
Membership number of auditor 62091
Address of auditors 6C, Middleton Street
Permanent account number of auditor or auditor's firm AACSK6448G
SRN of form ADT-1 Z99999999
Date of signing audit report by auditors 29/05/2015
Date of signing of balance sheet by auditors 29/05/2015

01/04/2014
to
31/03/2015
Disclosure in auditor?s report explanatory [TextBlock] [See below]
Whether companies auditors report order is applicable on company Yes
Whether auditors' report has been qualified or has any reservations or
No
contains adverse remarks
Auditor's qualification(s), reservation(s) or adverse remark(s) in
No Remarks
auditors' report
Disclosure in auditors report relating to fixed assets

i). a. The company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. b. All the
assets have not been physically verified by the management during the year but there is a phased programme of verification designed to cover all
the items of Fixed Assets over the period of three years. Pursuant to the programme a portion of the Fixed Assets have been physically verified by
the Management during the year which, in our opinion, is reasonable having regard to the size of the company and the nature of its assets. No
material discrepancies were noticed on such verification.
34
Disclosure relating to physical verification and material discrepancies of fixed assets

b. All the assets have not been physically verified by the management during the year but there is a phased programme of verification designed to
cover all the items of Fixed Assets over the period of three years. Pursuant to the programme a portion of the Fixed Assets have been physically
verified by the Management during the year which, in our opinion, is reasonable having regard to the size of the company and the nature of its
assets. No material discrepancies were noticed on such verification.
Disclosure in auditors report relating to inventories

ii) a. The inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable. b.
The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the
company and the nature of its business. c. The company is maintaining proper records of inventory except Stores & Spares. The discrepancies
noticed on verification between the physical stocks and the book records were not material.
Disclosure in auditors report relating to loans

iii) a. The Company has not granted any loan during the year, Secured or Unsecured to the companies, firms or other parties listed in the register
maintained u/s 189 of the Companies Act 2013 and accordingly clause (iii) (a), & (b) of the order are not applicable.
Disclosure in auditors report relating to internal control system

iv) In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate
with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and with regard to the sale of goods.
During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal controls.
Disclosure in auditors report relating to deposits accepted

v) In our opinion and according to the information and explanations given to us, the company has not accepted any deposit from the public u/s 73
to 76 of the Companies Act, 2013 or any other relevant provisions of the Companies Act, 2013 and Rules made thereunder.
Disclosure in auditors report relating to maintenance of cost records

vi) The maintenance of cost records has not been specified by the Central Government under sub section (1) of the section 148 of the Companies
Act, though the Company has a practice of maintaining such accounts and records for the purpose of cost Audit.
35
Disclosure in auditors report relating to statutory dues [Text Block]

vii) a. The company is regular in depositing with appropriate authorities undisputed statutory dues including provident fund, employees
state insurance, income tax, sales tax, service tax, wealth tax, custom duty, excise duty, cess and other material statutory dues applicable to it.
b. According to the information and explanation given to us, there are no dues of income tax, custom duty, wealth tax, excise duty and cess
which have not been deposited on account of any dispute.
c. There were no such amount which required to be transferred to Investor Education and Protection fund in accordance with the relevant
provisions of the Companies Act.
Disclosure relating to regularity in payment of undisputed statutory dues [Text Block]

Disclosure relating to disputed statutory dues [Text Block]

vii) b. According to the information and explanation given to us, there are no dues of income tax, custom duty, wealth tax, excise duty
and cess which have not been deposited on account of any dispute.
Disclosure in auditors report relating to accumulated losses

viii) In our opinion, the company has accumulated losses which exceeded its Net Worth. The company has incurred cash losses during the
financial year covered by our audit and during the immediately preceding financial year.
Disclosure in auditors report relating to default in repayment of financial dues

ix) In our opinion and according to the information and explanations given to us, the Company has restructured their credit limits with SBI and is
pending for implementation as on the date of Audit, reference to the terms and conditions as sanctioned by SBI the company is required to pay
Rs. 2 crore as when the package will be implemented and it has no dues to debenture holders.
36
Disclosure in auditor?s report explanatory [Text Block]

Independent Auditors' Report
To The Members of Bhaskar Shrachi Alloys Limited
Report on the Financial Statements
We have audited the accompanying Financial Statements of BHASKAR SHRACHI ALLOYS LIMITED (the company), which comprise the
Balance sheet as at March 31, 2015, and the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of
significant accounting policies and other explanatory information .
Management's Responsibility for the Financial Statements
The company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (ï¿½the Actï¿½) with
respect to the preparation of these Financial Statements that give a true and fair view of the financial position, financial performance and cash
flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified
under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rule, 2014. This responsibility also includes 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 frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are
reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for
ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that
give a true and fair view and are free from material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit.
We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the
audit report under the provisions of the Act and the Rules made thereunder.
We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the Act. Those Standards require that we
comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free
37
from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due
to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company's preparation and fair
presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of
expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting
policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the
financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified audit opinion.
Basis for Qualified Opinion
REFER TO NOTE NO. 2.24(13) REGARDING NON-PROVISION OF DEFERRED TAX LIABILITY (NET OF DEFERRED TAX ASSET)
AMOUNTING TO Rs. 14.58 LACS. HAD THE PROVISION BEEN MADE THE LOSS FOR THE YEAR WOULD HAVE INCREASED BY
Rs. 14.58 LACS AND THE BALANCE IN PROFIT and LOSS STATEMENT WOULD HAVE DECREASED AND DEFERRED TAX
LIABILITY WOULD HAVE INCREASED BY THE SAME AMOUNT.
Opinion
In our opinion and to the best of our information and according to the explanations given to us, except for the effects of the matter described in the
Basis for Qualified Opinion Paragraph, the aforesaid financial statements give the information required by the Act, in the manner so required and
give a true and fair view in conformity with the accounting principles generally accepted in India.
(a) in the case of the Balance Sheet of the state of affairs of the Company as at 31st March,
2015;
(b) in the case of Statement of Profit and Loss, of the Loss for the year ended on that date; and
(c) in the case of Cash Flow Statement, of the Cash Flows for the year ended on that date.
38
Report on Other Legal and Regulatory Requirements
1. As required by section 143 (3) of the Act, we report that;
a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the
purposes of our audit;
b) In our opinion, subject to note no. 2.24(13) proper books of account as required by law have been kept by the Company, so far as
appears from our examination of those books;
c) The Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of
account;
d) In our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards
specified under section 133 of the Act, read with rule 7 of the companies (Accounts) Rule, 2014 except note no. 2.24(13) regarding non-provision
of Deferred Tax Liability (Accounting Standard 22).
e) On the basis of the written representations received from the Directors as on 31st March, 2015, and taken on record by the Board of
Directors, none of the Directors is disqualified as on 31st March, 2015 from being appointed as a Director in terms of Section 164 (2) of the Act.
f) With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the companies (Audit and
Auditors) Rule, 2014, in our opinion and to the best of our information and according to the explanations given to us;
i) The Company has disclosed the impact of pending litigations on its financial position in its financial statements ï¿½ Refer Note 2.24
(14) to the financial statement.
ii) The company did not have any long term Contracts including derivative contracts for which there were any material foreseeable
losses.
iii) There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the
company.
39
For K.N. GUTGUTIA and CO.
Chartered Accountants
Firm Registration No. 304153E
CA. AMIT GHOSH
Partner
6C, Middleton Street, Membership No. 62091
Kolkata - 700071
Annexure To Auditor's Report
Referred to in paragraph 1 of our report of even date to the members of
BHASKAR SHRACHI ALLOYS LIMITED
i). a. The company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.
b. All the assets have not been physically verified by the management during the year but there is a phased programme of verification
designed to cover all the items of Fixed Assets over the period of three years. Pursuant to the programme a portion of the Fixed Assets have been
physically verified by the Management during the year which, in our opinion, is reasonable having regard to the size of the company and the
nature of its assets. No material discrepancies were noticed on such verification.
ii) a. The inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is
reasonable.
b. The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of
the company and the nature of its business.
c. The company is maintaining proper records of inventory except Stores and Spares. The discrepancies noticed on verification between the
physical stocks and the book records were not material.
iii) a. The Company has not granted any loan during the year, Secured or Unsecured to the companies, firms or other parties listed in
the register maintained u/s 189 of the Companies Act 2013 and accordingly clause (iii) (a), and (b) of the order are not applicable.
iv) In our opinion and according to the information and explanations given to us, there are adequate internal control procedures
40
commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and with regard to
the sale of goods. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal controls.
v) In our opinion and according to the information and explanations given to us, the company has not accepted any deposit from the
public u/s 73 to 76 of the Companies Act, 2013 or any other relevant provisions of the Companies Act, 2013 and Rules made thereunder.
vi) The maintenance of cost records has not been specified by the Central Government under sub section (1) of the section 148 of the
Companies Act, though the Company has a practice of maintaining such accounts and records for the purpose of cost Audit.
b. According to the information and explanation given to us, there are no dues of income tax, custom duty, wealth tax, excise duty and cess
which have not been deposited on account of any dispute.
viii) In our opinion, the company has accumulated losses which exceeded its Net Worth. The company has incurred cash losses during
the financial year covered by our audit and during the immediately preceding financial year.
ix) In our opinion and according to the information and explanations given to us, the Company has restructured their credit limits with
SBI and is pending for implementation as on the date of Audit, reference to the terms and conditions as sanctioned by SBI the company is
required to pay Rs. 2 crore as when the package will be implemented and it has no dues to debenture holders.
x) The company has not given guarantees for loans taken by others from banks or financial institutions.
xi) In our opinion, the term loans have been applied for the purpose for which they were raised.
xii) According to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the
course of our audit
For K.N. GUTGUTIA and CO.
Chartered Accountants
Firm Registration No. 304153E
CA. AMIT GHOSH
Partner
6C, Middleton Street, Membership No. 62091
41
Kolkata - 700071
[400500] Disclosures - Secretarial audit report
Details of signatories of secretarial audit report [Table] ..(1)

Signatories of secretarial audit report [Axis] S1
01/04/2014
to
31/03/2015
Details of signatories of secretarial audit report [Abstract]
Details of signatories of secretarial audit report [LineItems]
Category of secretarial auditor Individual
R VIDYASARIA &
Name of secretarial audit firm CO.
RITIKA
Name of secretarial auditor signing report VIDYASARIA
Membership number of secretarial auditor 14018
10C, MIDDLETON
Address of secretarial auditors ROW KOLKATA
700 071
Date of signing secretarial audit report 29/05/2015

01/04/2014
to
31/03/2015
Disclosure in secretarial audit report explanatory [TextBlock] [See below]
Whether secretarial audit report is applicable on company Yes
Whether secretarial audit report has been qualified or has any
No
observation or other remarks
Secretarial qualifications or observations or other remarks in
No Remarks
secretarial audit report
42
Disclosure in secretarial audit report explanatory [Text Block]

SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED 31st March 2015
[Pursuant to section 204(1) of the Companies Act, 2013 and rule No_9 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014.
To,
The Members,
Bhaskar Shrachi Alloys Limited
8/1 Middleton Row,
Kolkata-700071.
We were appointed by the Board of Directors of BHASKAR SHRACHI ALLOYS LTD (hereinafter called the Company) to conduct Secretarial
Audit on a voluntary basis for the financial year of the Company ended 31st March 2015.
We have conducted the Secretarial Audit in respect of compliance with applicable statutory provisions and adherence to good corporate practices
by the Company. Secretarial Audit was conducted in a manner that provided us with a reasonable basis for evaluating the corporate conduct
/statutory compliance and expressing our opinion thereon.
Management's Responsibility for Secretarial Compliances:
The Company's Management is responsible for preparation and maintenance of secretarial records and for devising proper systems to ensure
compliance with the provisions of applicable laws and regulations.
Auditor's Responsibility:
Our responsibility is to express an opinion on the secretarial records, standards and procedures followed by the Company with respect to
secretarial compliances.
We believe that audit evidence and information obtained from the Company's management is adequate and appropriate for us to provide a basis
for our opinion.
Opinion:
43
We have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company for the financial year
ended on 31st March 2015 according to the provisions of:
(i) The Companies Act, 1956 and Companies Act, 2013 ("the Acts') and the rules made there under, as applicable;
(ii) The Securities Contracts (Regulation) Act, 1956 (`SCRA') and the rules made there under;
(iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed there under;
(iv) Foreign Exchange Management Act, 1999 and the rules and regulations made there under to the extent of Foreign Direct Investment,
Overseas Direct Investment and External Commercial Borrowings;
(v) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 ("SEBI Act):-
a) Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;
b) Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992;
c) Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 - Not applicable as the
Company did not issue any security during the financial year under review.
d) Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 1
Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 (effective 28th October 2014) - Not applicable as the
Company has not granted any Options to its employees during the financial year under review.
e) Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008 - Not applicable as the Company has not
issued any debt securities during the financial year under review
f) Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies Act
and dealing with client - Not Applicable as the Company is not registered as Registrar to an Issue and Share Transfer Agent during the financial
year underreview;
g) Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 - Not applicable as the Company has not delisted its
equity shares from any stock exchange during the financial year under review ; and
h) Securities and Exchange Board of India (Buy back of Securities) Regulations, 1998 - Not applicable as the Company has not bought back
any of its securities during the financial year under review.
i) The Listing Agreement entered into by the Company.
Based on our verification of the Company's books, papers, minute books, forms and returns filed and other records maintained by the Company
and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of Secretarial Audit, we
hereby report that in our opinion, the Company has, during the financial year ended 31st March' 2015 complied with the aforesaid laws. Material
compliances are listed in the Annexure attached to this report.
Based on information received and records maintained, we further report that:
1. The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors and
Independent Directors. The changes in c omposition of the Board of Directors, which took place during the financial year under review, were
carried out in compliance with the provisions of the Acts and the Listing Agreement; However as per section 149(1) of the Companies Act 2013,
a woman director as required has not been appointed.
2. Adequate notice of at least seven days was given to all Directors to schedule the Board Meetings. Agenda and detailed notes on agenda
44
were sent in advance of at least three days before the meeting. There exists a system for Directors to seek and obtain further information and
clarifications on the agenda items before the meeting and for meaningful participation at the meeting;
3. Majority decision is carried through while the dissenting members' views are captured and recorded as part of the Minutes of the Meetings;
4. The Company has proper Board processes.
Ritika Vidyasaria
Kolkata
29th May, 2015.
ANNEXURE TO SECRETARIAL AUDIT REPORT:
In our opinion and to the best of our information and according to the examinations carried out by us and explanations furnished and
representations made to us by the Company, its officers and agents, we report that the Company has, during the financial year under review,
complied with the provisions of the Acts, the Rules made there under and the Memorandum and Articles of Association of the Company with
regard to:-
1. Maintenance of various statutory registers and documents and making necessary entries therein;
2. Contracts, Common Seal, Registered Office and publication of BHASKAR SARACHI ALLOYS LTD;
3. Forms, returns, documents and resolutions required to be filed with the Registrar of Companies, Regional Director, Central Government,
Company Law Board or such other authorities;
4. Service of documents by the Company on its Members, Directors, Stock Exchanges, Auditors and the Registrar of Companies;
5. Constitution of the Board of Directors and Audit Committee.
6. Appointment, Re-appointment and Retirement of Directors including Non Executive Directors and Executive Directors and payment of
remuneration to them.
7. Disclosure of interests and concerns in contracts and arrangements, shareholdings and directorships in other Companies and interest in other
entities by Directors;
8. Disclosure requirements in respect to their eligibility for appointment, declaration of their independence, compliance with the code of
conduct for Directors and Senior Management Personnel as per Clause 49 of the Listing Agreement.
9. Establishing a policy on Related Party Transactions and hosting the same on the website of the Company. All transactions with related
parties were in the ordinary course of business and arms length basis and were placed before the Audit Committee periodically .
10. Establishing a Vigil Mechanism and providing to complainants, if any, unhindered access to the Chairman of the Audit Committee.
11. Appointment of the following as Key Managerial Personnel:-
a) Mr. Mukesh Kumar Rathi
45
b) Mrs. Chandani Mohta
12. Appointment and remuneration of, Statutory Auditor and Cost Auditor;
13. Notice of meetings of the Board and Committees thereof;
14. Minutes of meetings of the Board and Committees thereof including passing of resolutions by circulations;
15. Notice convening the Annual General Meeting held on 29th September, 2014 and holding of the meeting on that date;
16. Minutes of General Meeting;
17. Approvals of members, Board of Directors, Committees of Directors, and government authorities, wherever required;
18. Form of balance sheet as at 31st March 2015 as prescribed under the Companies Act, 2013 and requirements as to Profit and Loss Account for
the year ended on that date.
19. Report of the Board of Directors for the Financial Year ended 31st March 2015;
20. Closure of Register of Members/record date.
21. Borrowing and registration of charges.
46
[100100] Balance sheet

31/03/2015 31/03/2014
Balance sheet [Abstract]
Equity and liabilities [Abstract]
Shareholders' funds [Abstract]
Share capital 12,50,00,000 12,50,00,000
Reserves and surplus -35,92,04,141 -24,15,12,810
Total shareholders' funds -23,42,04,141 -11,65,12,810
Share application money pending allotment 0 0
Non-current liabilities [Abstract]
Long-term borrowings 17,65,98,858 15,00,01,634
Other long-term liabilities 0 0
Long-term provisions 0 0
Total non-current liabilities 17,65,98,858 15,00,01,634
Current liabilities [Abstract]
Short-term borrowings 55,88,09,042 28,15,10,528
Trade payables (A) 22,14,30,724 (B) 53,24,18,227

Other current liabilities 4,77,42,660 5,34,68,637
Short-term provisions 21,38,647 15,24,234
Total current liabilities 83,01,21,073 86,89,21,626
Total equity and liabilities 77,25,15,790 90,24,10,450
Assets [Abstract]
Non-current assets [Abstract]
Fixed assets [Abstract]
Tangible assets 10,54,82,252 13,43,67,782
Intangible assets 0 0
Tangible assets capital work-in-progress 1,39,42,565 1,39,42,565
Total fixed assets 11,94,24,817 14,83,10,347
Non-current investments 0 0
Long-term loans and advances 3,24,52,080 3,46,63,881
Total non-current assets 15,18,76,897 18,29,74,228
Current assets [Abstract]
Current investments 0 0
Inventories 47,97,29,335 44,96,83,424
Trade receivables 6,53,43,958 10,51,87,146
Cash and bank balances 1,99,46,048 6,30,05,391
Short-term loans and advances 5,06,36,850 7,46,33,248
Other current assets 49,82,702 2,69,27,013
Total current assets 62,06,38,893 71,94,36,222
Total assets 77,25,15,790 90,24,10,450
Footnotes
(A) (a) For Goods 87,337,128 (b) For Expenses 134,093,596 Total 221,430,724
(B) (a) For Goods 261,428,898 (b) For Expenses 139,011,876 (c) Against Letter of Credit 131,977,453 Total 532,418,227
47
[400300] Disclosures - Signatories of financial statements
Details of directors signing financial statements [Table] ..(1)

Directors signing financial statements [Axis] M1 M2
01/04/2014 01/04/2014
to to
31/03/2015 31/03/2015
Details of signatories of financial statements [Abstract]
Details of directors signing financial statements [Abstract]
Details of directors signing financial statements [LineItems]
Name of director signing financial statements [Abstract]
First name of director MUKESH SHRAWAN
Middle name of director KUMAR KUMAR
Last name of director RATHI TODI
Designation of director Director Director
Director identification number of director 06683723 00080303
Date of signing of financial statements by director 29/05/2015 29/05/2015
48
[100400] Cash flow statement, indirect

01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Statement of cash flows [Abstract]
Whether cash flow statement is applicable on company Yes Yes
Cash flows from used in operating activities [Abstract]
Profit before extraordinary items and tax -11,76,91,331 -14,28,67,288
Adjustments for reconcile profit (loss) [Abstract]
Adjustments to profit (loss) [Abstract]
Adjustments for finance costs 7,55,74,565 5,76,73,596
Adjustments for depreciation and amortisation expense 3,32,09,294 2,16,21,991
Other adjustments to reconcile profit (loss) (A) -17,72,990 (B) -28,41,649

Other adjustments for non-cash items 6,14,413 -84,170
Total adjustments to profit (loss) 10,76,25,282 7,63,69,768
Adjustments for working capital [Abstract]
Adjustments for decrease (increase) in inventories -3,00,45,911 -9,10,25,200
Adjustments for decrease (increase) in trade receivables 3,98,43,188 53,28,972
Adjustments for decrease (increase) in other current assets 4,81,52,509 -4,66,72,251
Adjustments for increase (decrease) in trade payables -31,09,87,501 33,57,02,113
Adjustments for increase (decrease) in other current liabilities -57,25,979 1,12,47,660
Total adjustments for working capital -25,87,63,694 21,45,81,294
Total adjustments for reconcile profit (loss) -15,11,38,412 29,09,51,062
Net cash flows from (used in) operations -26,88,29,743 14,80,83,774
Net cash flows from (used in) operating activities before extraordinary
-26,88,29,743 14,80,83,774
items
Net cash flows from (used in) operating activities -26,88,29,743 14,80,83,774
Cash flows from used in investing activities [Abstract]
Proceeds from sales of tangible assets 45,854 0
Purchase of tangible assets 43,23,763 29,38,191
Interest received 17,27,136 28,41,649
Other inflows (outflows) of cash (C) 4,68,50,000 (D) -2,34,10,972

Net cash flows from (used in) investing activities before extraordinary
4,42,99,227 -2,35,07,514
items
Net cash flows from (used in) investing activities 4,42,99,227 -2,35,07,514
Cash flows from used in financing activities [Abstract]
Proceeds from issuing shares 0 50,00,000
Proceeds from borrowings 30,38,95,738 -6,69,52,779
Interest paid 7,55,74,565 5,76,73,596
Other inflows (outflows) of cash 0 -50,00,000
Net cash flows from (used in) financing activities before extraordinary
22,83,21,173 -12,46,26,375
items
Net cash flows from (used in) financing activities 22,83,21,173 -12,46,26,375
Net increase (decrease) in cash and cash equivalents before effect of
37,90,657 -50,115
exchange rate changes
Net increase (decrease) in cash and cash equivalents 37,90,657 -50,115
Cash and cash equivalents cash flow statement at end of period 49,46,048 11,55,391
Footnotes
(A) Interest Income (1,727,136) Profit on Sale of Tangible Fixed Assets (45,854) Total -1772990.00
(B) Interest Income
(C) Increase in Margin Money Deposit
(D) Increase in Margin Money Deposit (24,722,986) Insurance Claim Received against Fixed Assets 1,312,014 Total -23410972.00
49
[200100] Notes - Share capital
Disclosure of shareholding more than five per cent in company [Table] ..(1)
Classes of share capital [Axis] Equity shares 1 [Member]
Name of shareholder [Axis] Shareholder 1 [Member] Shareholder 2 [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014
Disclosure of shareholding more than
five per cent in
company [Abstract]
Disclosure of shareholding more than
five per cent
in company [LineItems]
Type of share EQUITY EQUITY EQUITY EQUITY
TULSYAN & SONS PVT TULSYAN & SONS PVT BENGAL GENERAL BENGAL GENERAL
Name of shareholder LTD LTD TRADING CO. PVT. LTD. TRADING CO. PVT. LTD.
CIN of shareholder U51109WB1988PTC044161 U51109WB1988PTC044161 U51909WB1946PTC013987 U51909WB1946PTC013987
Country of incorporation or
residence of INDIA INDIA INDIA INDIA
shareholder
Number of shares held in company [shares] 15,00,000 [shares] 15,00,000 [shares] 7,33,200 [shares] 7,33,200
Percentage of shareholding in
12.00% 12.00% 5.8656% 5.8656%
company
Disclosure of shareholding more than five per cent in company [Table] ..(2)
Name of shareholder [Axis] Shareholder 3 [Member]
01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Disclosure of shareholding more than five per cent in company [Abstract]
Disclosure of shareholding more than five per cent in company [LineItems]
Type of share EQUITY EQUITY
Shrawan Kumar
Name of shareholder Todi
Shrawan Kumar Todi
PAN of shareholder ABWPT5354P ABWPT5354P

Country of incorporation or residence of shareholder INDIA INDIA
Number of shares held in company [shares] 7,63,700 [shares] 6,38,100
Percentage of shareholding in company 6.1096% 5.1048%
50
Disclosure of classes of share capital [Table] ..(1)

Classes of share capital [Axis] Share capital [Member] Equity shares [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014
Disclosure of classes of share capital [Abstract]
Disclosure of classes of share capital [LineItems]
Number of shares authorised [shares] 1,50,00,000 [shares] 1,50,00,000 [shares] 1,50,00,000 [shares] 1,50,00,000
Value of shares authorised 15,00,00,000 15,00,00,000 15,00,00,000 15,00,00,000
Number of shares issued [shares] 1,25,00,000 [shares] 1,25,00,000 [shares] 1,25,00,000 [shares] 1,25,00,000
Value of shares issued 12,50,00,000 12,50,00,000 12,50,00,000 12,50,00,000
Number of shares subscribed and fully paid [shares] 1,25,00,000 [shares] 1,25,00,000 [shares] 1,25,00,000 [shares] 1,25,00,000
Value of shares subscribed and fully paid 12,50,00,000 12,50,00,000 12,50,00,000 12,50,00,000
Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0 0 0
Total number of shares subscribed [shares] 1,25,00,000 [shares] 1,25,00,000 [shares] 1,25,00,000 [shares] 1,25,00,000
Total value of shares subscribed 12,50,00,000 12,50,00,000 12,50,00,000 12,50,00,000
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 1,25,00,000 [shares] 1,25,00,000 [shares] 1,25,00,000 [shares] 1,25,00,000
Value of shares called 12,50,00,000 12,50,00,000 12,50,00,000 12,50,00,000
Value of shares paid-up 12,50,00,000 12,50,00,000 12,50,00,000 12,50,00,000
Reconciliation of number of shares outstanding
[Abstract]
Changes in number of shares outstanding
[Abstract]
Increase in number of shares outstanding
[Abstract]
Number of other issues of shares [shares] 0 [shares] 5,00,000 [shares] 0 [shares] 5,00,000
Total aggregate number of shares issued
[shares] 0 [shares] 5,00,000 [shares] 0 [shares] 5,00,000
during period
Total increase (decrease) in number of
[shares] 0 [shares] 5,00,000 [shares] 0 [shares] 5,00,000
shares outstanding
Number of shares outstanding at end of period [shares] 1,25,00,000 [shares] 1,25,00,000 [shares] 1,25,00,000 [shares] 1,25,00,000
Reconciliation of value of shares outstanding
[Abstract]
Changes in share capital [Abstract]
Increase in share capital during period
[Abstract]
Amount of other issues during period 0 50,00,000 0 50,00,000
Total aggregate amount of increase in
0 50,00,000 0 50,00,000
share capital during period
Total increase (decrease) in share capital 0 50,00,000 0 50,00,000
Share capital at end of period 12,50,00,000 12,50,00,000 12,50,00,000 12,50,00,000
Details of application money received for
allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of
securities and due for refund and interest
accrued thereon [Abstract]
Application money received for
allotment of securities and due for 0 0 0 0
refund, principal
Application money received for
allotment of securities and due for 0 0 0 0
refund, interest accrued
Total application money received for
allotment of securities and due for refund 0 0 0 0
and interest accrued thereon
51
Disclosure of classes of share capital [Table] ..(2)

01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Disclosure of classes of share capital [Abstract]
Disclosure of classes of share capital [LineItems]
Type of share Equity Equity
Number of shares authorised [shares] 1,50,00,000 [shares] 1,50,00,000
Value of shares authorised 15,00,00,000 15,00,00,000
Number of shares issued [shares] 1,25,00,000 [shares] 1,25,00,000
Value of shares issued 12,50,00,000 12,50,00,000
Number of shares subscribed and fully paid [shares] 1,25,00,000 [shares] 1,25,00,000
Value of shares subscribed and fully paid 12,50,00,000 12,50,00,000
Number of shares subscribed but not fully paid [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0
Total number of shares subscribed [shares] 1,25,00,000 [shares] 1,25,00,000
Total value of shares subscribed 12,50,00,000 12,50,00,000
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 1,25,00,000 [shares] 1,25,00,000
Value of shares called 12,50,00,000 12,50,00,000
Value of shares paid-up 12,50,00,000 12,50,00,000
Par value per share [shares] 10 [shares] 10
Amount per share called in case shares not fully called [shares] 0 [shares] 0
Reconciliation of number of shares outstanding [Abstract]
Changes in number of shares outstanding [Abstract]
Increase in number of shares outstanding [Abstract]
Number of other issues of shares [shares] 0 [shares] 5,00,000
Total aggregate number of shares issued during period [shares] 0 [shares] 5,00,000
Total increase (decrease) in number of shares outstanding [shares] 0 [shares] 5,00,000
Number of shares outstanding at end of period [shares] 1,25,00,000 [shares] 1,25,00,000
Reconciliation of value of shares outstanding [Abstract]
Changes in share capital [Abstract]
Increase in share capital during period [Abstract]
Amount of other issues during period 0 50,00,000
Total aggregate amount of increase in share capital during period 0 50,00,000
Total increase (decrease) in share capital 0 50,00,000
Share capital at end of period 12,50,00,000 12,50,00,000
Details of application money received for allotment of securities and due for
refund and interest accrued thereon [Abstract]
Application money received for allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of securities and due for refund,
0 0
principal
Application money received for allotment of securities and due for refund,
0 0
interest accrued
Total application money received for allotment of securities and due for
0 0
refund and interest accrued thereon

01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Textual information (33) Textual information (34)
Disclosure of notes on share capital explanatory [TextBlock] [See below] [See below]
Whether there are any shareholders holding more than five per cent
Yes Yes
shares in company
Whether reduction in capital done during year No No
Whether money raised from public offering during year No No
52
Disclosure of notes on share capital explanatory [Text Block]

2.1.(c) The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to
one vote per share. The holders of Equity Shares are entitled to receive dividends as declared from time to time. The dividend proposed by the
Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the
company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts.
The distribution will be in proportion to the number of equity shares held by the shareholders.
Disclosure of notes on share capital explanatory [Text Block]

2.1.(c) The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to
one vote per share. The holders of Equity Shares are entitled to receive dividends as declared from time to time. The dividend proposed by the
Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the
company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts.
The distribution will be in proportion to the number of equity shares held by the shareholders.
[200200] Notes - Reserves and surplus
Statement of changes in reserves [Table] ..(1)

Components of reserves [Axis] Reserves [Member] Capital reserves [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014
Statement of changes in reserves [Abstract]
Statement of changes in reserves [LineItems]
Changes in reserves [Abstract]
Additions to reserves [Abstract]
Profit (loss) for period -11,76,91,331 -14,28,67,288 0 0
Total additions to reserves -11,76,91,331 -14,28,67,288 0 0
Total changes in reserves -11,76,91,331 -14,28,67,288 0 0
Reserves at end of period -35,92,04,141 -24,15,12,810 21,00,000 21,00,000
Statement of changes in reserves [Table] ..(2)

Components of reserves [Axis] Surplus [Member]
01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Statement of changes in reserves [Abstract]
Statement of changes in reserves [LineItems]
Changes in reserves [Abstract]
Additions to reserves [Abstract]
Profit (loss) for period -11,76,91,331 -14,28,67,288
Total additions to reserves -11,76,91,331 -14,28,67,288
Total changes in reserves -11,76,91,331 -14,28,67,288
Reserves at end of period -36,13,04,141 -24,36,12,810
53

01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
N o t e s : N o t e s :
i ) i )
Disclosure of notes on reserves explanatory [TextBlock] Capital Capital

reserve is in respect of reserve is in respect of
State Capital Investment State Capital Investment
Subsidy. Subsidy.
[200300] Notes - Borrowings
Classification of borrowings [Table] ..(1)

Classification based on time period [Axis] Long-term [Member]
Classification of borrowings [Axis] Term loans [Member] Term loans from banks [Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Secured borrowings [Member]
31/03/2015 31/03/2014 31/03/2015 31/03/2014
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [LineItems]
Borrowings 17,65,98,858 15,00,01,634 17,65,98,858 15,00,01,634

Classification based on time period [Axis] Long-term [Member] Short-term [Member]
Classification of borrowings [Axis] Rupee term loans from banks [Member] Term loans [Member]
31/03/2015 31/03/2014 31/03/2015 31/03/2014
Borrowings 17,65,98,858 15,00,01,634 39,46,93,108 26,84,94,594

Classification based on time period [Axis] Short-term [Member]
Classification of borrowings [Axis] Term loans from banks [Member] Rupee term loans from banks [Member]
31/03/2015 31/03/2014 31/03/2015 31/03/2014
Borrowings 39,46,93,108 26,84,94,594 (A) 39,46,93,108 (B) 26,84,94,594
Footnotes
(A) Cash Credit
(B) Cash Credit
54

Loans and advances from related parties
Classification of borrowings [Axis] Intercorporate borrowings [Member]
[Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member] Unsecured borrowings [Member]
31/03/2015 31/03/2014 31/03/2015 31/03/2014
Borrowings 4,21,15,934 1,30,15,934 12,20,00,000 0

Loans and advances from others
Classification of borrowings [Axis]
[Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member]
31/03/2015 31/03/2014
Borrowings 12,20,00,000 0

01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Disclosure of notes on borrowings explanatory [TextBlock] [See below] [See below]
55
Disclosure of notes on borrowings explanatory [Text Block]

Note No : 2.4 Long - term borrowings
Notes:
a) Nature of securities:
(i) " Term Loan from State Bank of India is secured by way of :
a) First charge over the entire existing and future Fixed Assets of the company and assets created for the Steel Billet project subject to charges
created or to be created in favour of working capital lenders on the current assets for securing Working Capital Facilities.
b) Equitable mortgate over the factory land and building of the company.
c) Pledge of 30% of the equity shares of the company held by promoters.
d) Personal guarantee of of Mr. S.K.Todi, Director of the company for Rs. 0.23 Crores.
e) Term Loans from banks are secured against respective vehicle or equipment financed from loan and hypothecated in favour of the lender.
b) Terms of repayment:
Name of the banks / Amount outstanding as on Balance Number

Sl. Rate Period of
entities Sheet date of
maturity
of instalments Amount of
No w.r.t.
Balance
Interest due as on
Sheet instalment
Tuesday, March 31,

% Current* date
Non-Current 2015 (`)
1 State Bank of India 11.00 122,873,545 20,000,000 9 Years 1 20,000,000
2 State Bank of India 11.00 47,536,228 - 9 Years -
(Commencing from 30.06.2016)
56
Total 176,598,858 20,000,000 -
Represents current maturities of long term debts shown under 'Other current liabilities (Note no. 2.9).Amount of Instalments varies as per terms of
sanction.
Note No : 2.5 Short - term borrowings
Nature of securities as disclosed in note no.2.4 above:
i) Working Capital loans are secured against hypothecation of entire inventories, book debts and all other current assets and by extension
of charge on fixed assets and current assets of the company.
ii) The Working Capital Limits are guaranteed by Mr. S.K.Todi, Director of the company for Rs. 0.23 Crores.
iii) Interest on Working Capital Limits charged at 11% p.a.
57
Disclosure of notes on borrowings explanatory [Text Block]

Note No : 2.4 Long - term borrowings
Notes:
a) Nature of securities:
(i) " Term Loan from State Bank of India is secured by way of :
a) First charge over the entire existing and future Fixed Assets of the company and assets created for the Steel Billet project subject to charges
created or to be created in favour of working capital lenders on the current assets for securing Working Capital Facilities.
b) Equitable mortgate over the factory land and building of the company.
c) Pledge of 30% of the equity shares of the company held by promoters.
d) Personal guarantee of of Mr. S.K.Todi, Director of the company for Rs. 0.23 Crores.
e) Term Loans from banks are secured against respective vehicle or equipment financed from loan and hypothecated in favour of the lender.
b) Terms of repayment:
Name of the banks / Amount outstanding as on Balance Number

Sl. Rate Period of
entities Sheet date of
maturity
of instalments Amount of
No w.r.t.
Balance
Interest due as on
Sheet instalment
Tuesday, March 31,

% Current* date
Non-Current 2015 (`)
1 State Bank of India 11.00 122,873,545 20,000,000 9 Years 1 20,000,000
(Commencing from 30.06.2016)
58
Total 176,598,858 20,000,000 -
Represents current maturities of long term debts shown under 'Other current liabilities (Note no. 2.9).Amount of Instalments varies as per terms of
sanction.
Note No : 2.5 Short - term borrowings
Nature of securities as disclosed in note no.2.4 above:
i) Working Capital loans are secured against hypothecation of entire inventories, book debts and all other current assets and by extension
of charge on fixed assets and current assets of the company.
ii) The Working Capital Limits are guaranteed by Mr. S.K.Todi, Director of the company for Rs. 0.23 Crores.
iii) Interest on Working Capital Limits charged at 11% p.a.
[201000] Notes - Tangible assets
Disclosure of additional information tangible assets [Table] ..(1)

Company total tangible assets
Classes of tangible assets [Axis] Land [Member]
[Member]
Owned and leased assets Owned and leased assets Assets held under lease
Sub classes of tangible assets [Axis]
[Member] [Member] [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
Disclosure of additional information
tangible assets [Abstract]
tangible assets [LineItems]
Written Down Written Down Written Down Written Down Written Down Written Down
Depreciation method tangible assets Value Value Value Value Value Value
As PerAs PerAs PerAs PerAs Per As Per
Useful lives or depreciation rates
Companies Act Companies Act Companies Act Companies Act Companies Act Companies Act
tangible assets 2013 1956 2013 1956 2013 1956

Classes of tangible assets [Axis] Buildings [Member] Other building [Member]
Owned and leased assets Owned and leased assets
Sub classes of tangible assets [Axis] Owned assets [Member]
[Member] [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
tangible assets 2013 1956 2013 1956 2013 1956
59

Other plant and equipment
Classes of tangible assets [Axis] Other building [Member] Plant and equipment [Member]
[Member]
[Member] [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
tangible assets 2013 1956 2013 1956 2013 1956

Other plant and equipment
Classes of tangible assets [Axis] Furniture and fixtures [Member]
[Member]
Owned and leased assets
Sub classes of tangible assets [Axis] Owned assets [Member] Owned assets [Member]
[Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
tangible assets 2013 1956 2013 1956 2013 1956

Classes of tangible assets [Axis] Vehicles [Member] Motor vehicles [Member]
[Member] [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
tangible assets 2013 1956 2013 1956 2013 1956
60

Computer equipments
Classes of tangible assets [Axis] Office equipment [Member]
[Member]
[Member] [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
tangible assets 2013 1956 2013 1956 2013 1956

Classes of tangible assets [Axis] Computer equipments [Member] Other tangible assets [Member]
Owned and leased assets
Sub classes of tangible assets [Axis] Assets held under lease [Member] Owned assets [Member]
[Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
tangible assets 2013 1956 2013 1956 2013 1956

Classes of tangible assets [Axis] Other tangible assets, others [Member]
Sub classes of tangible assets [Axis] Owned and leased assets [Member] Owned assets [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014
Disclosure of additional information tangible assets
[Abstract]
Disclosure of additional information tangible assets
[LineItems]
Depreciation method tangible assets Written Down Value Written Down Value Written Down Value Written Down Value
As Per Companies As Per Companies As Per Companies As Per Companies
Useful lives or depreciation rates tangible assets Act 2013 Act 1956 Act 2013 Act 1956
61
Disclosure of tangible assets [Table] ..(1)

Classes of tangible assets [Axis] Company total tangible assets [Member]
Sub classes of tangible assets [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross Gross carrying amount Accumulated depreciation and
Carrying amount [Member]
carrying amount [Axis] [Member] impairment [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
Disclosure of tangible assets [Abstract]
Disclosure of tangible assets
[LineItems]
Reconciliation of changes in
Changes in tangible assets
[Abstract]
Additions other than through
business combinations tangible 43,23,763 7,60,419 43,23,763 7,60,419
assets
Depreciation tangible assets -3,32,09,294 -29,12,037 3,32,09,294 29,12,037
Disposals tangible assets
[Abstract]
Disposals tangible assets,
0 0 5,08,716 0 5,08,716 0
others
Total disposals tangible
0 0 5,08,716 0 5,08,716 0
assets
Total changes in tangible
-2,88,85,531 -21,51,618 38,15,047 7,60,419 3,27,00,578 29,12,037
assets
Tangible assets at end of period 10,54,82,252 13,43,67,782 48,81,10,128 48,42,95,081 38,26,27,876 34,99,27,299

01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
business combinations tangible 0 0 0 0
assets
Depreciation tangible assets -92,433 -92,433 92,433 92,433
-92,433 -92,433 0 0 92,433 92,433
assets
Tangible assets at end of period 46,41,976 47,34,409 57,86,479 57,86,479 11,44,503 10,52,070
62

Sub classes of tangible assets [Axis] Assets held under lease [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
assets
-92,433 -92,433 0 0 92,433 92,433
assets

Classes of tangible assets [Axis] Buildings [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
assets
Depreciation tangible assets -24,51,293 0 24,51,293 0
-24,51,293 0 0 0 24,51,293 0
assets
63

Classes of tangible assets [Axis] Other building [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
assets
-24,51,293 0 0 0 24,51,293 0
assets

Classes of tangible assets [Axis] Other building [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
assets
-24,51,293 0 0 0 24,51,293 0
assets
64

Classes of tangible assets [Axis] Plant and equipment [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
business combinations tangible 32,68,378 0 32,68,378 0
assets
Depreciation tangible assets -2,42,43,123 0 2,42,43,123 0
-2,09,74,745 0 32,68,378 0 2,42,43,123 0
assets

Classes of tangible assets [Axis] Other plant and equipment [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
assets
-2,09,74,745 0 32,68,378 0 2,42,43,123 0
assets
65

Classes of tangible assets [Axis] Other plant and equipment [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
assets
-2,09,74,745 0 32,68,378 0 2,42,43,123 0
assets

01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
assets
-64,771 -29,518 0 0 64,771 29,518
assets
Tangible assets at end of period 68,792 1,33,562 10,98,931 10,98,931 10,30,139 9,65,369
66

01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
assets
-64,771 -29,518 0 0 64,771 29,518
assets

Classes of tangible assets [Axis] Vehicles [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
assets
[Abstract]
0 0 5,08,716 0 5,08,716 0
others
0 0 5,08,716 0 5,08,716 0
assets
-6,67,545 0 -5,08,716 0 1,58,829 0
assets
67

Classes of tangible assets [Axis] Motor vehicles [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
assets
[Abstract]
0 0 5,08,716 0 5,08,716 0
others
0 0 5,08,716 0 5,08,716 0
assets
-6,67,545 0 -5,08,716 0 1,58,829 0
assets

Classes of tangible assets [Axis] Motor vehicles [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
assets
[Abstract]
0 0 5,08,716 0 5,08,716 0
others
0 0 5,08,716 0 5,08,716 0
assets
-6,67,545 0 -5,08,716 0 1,58,829 0
assets
68

01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
assets
Depreciation tangible assets -1,08,046 -29,883 1,08,046 29,883
-1,08,046 -29,883 0 0 1,08,046 29,883
assets

01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
assets
-1,08,046 -29,883 0 0 1,08,046 29,883
assets
69

Classes of tangible assets [Axis] Computer equipments [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
business combinations tangible 0 10,250 0 10,250
assets
-1,20,315 -74,031 0 10,250 1,20,315 84,281
assets

Classes of tangible assets [Axis] Computer equipments [Member]
Sub classes of tangible assets [Axis] Assets held under lease [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
business combinations tangible 0 10,250 0 10,250
assets
-1,20,315 -74,031 0 10,250 1,20,315 84,281
assets
70

Classes of tangible assets [Axis] Other tangible assets [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
assets
Depreciation tangible assets -54,61,768 -26,75,922 54,61,768 26,75,922
-44,06,383 -19,25,753 10,55,385 7,50,169 54,61,768 26,75,922
assets

Classes of tangible assets [Axis] Other tangible assets [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
[Abstract]
assets
-44,06,383 -19,25,753 10,55,385 7,50,169 54,61,768 26,75,922
assets
71

01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
Electrical Electrical Electrical Electrical Electrical Electrical
Nature of other tangible assets Installation Installation Installation Installation Installation Installation
[Abstract]
assets
-44,06,383 -19,25,753 10,55,385 7,50,169 54,61,768 26,75,922
assets

01/04/2014 01/04/2013 01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
[LineItems]
Electrical Electrical Electrical Electrical Electrical Electrical
Nature of other tangible assets Installation Installation Installation Installation Installation Installation
[Abstract]
assets
-44,06,383 -19,25,753 10,55,385 7,50,169 54,61,768 26,75,922
assets
72
[201100] Notes - Intangible assets
Disclosure of intangible assets [Table] ..(1)

Company total intangible assets
Classes of intangible assets [Axis]
[Member]
Internally generated and other than
Sub classes of intangible assets [Axis] internally generated intangible assets
[Member]
Carrying amount accumulated amortization and impairment and gross carrying amount [Axis] Carrying amount [Member]
31/03/2015 31/03/2014
Disclosure of intangible assets [Abstract]
Disclosure of intangible assets [LineItems]
Reconciliation of changes in intangible assets [Abstract]
Intangible assets at end of period 0 0
[200600] Notes - Subclassification and notes on liabilities and assets
Disclosure of breakup of provisions [Table] ..(1)

31/03/2015 31/03/2014
Subclassification and notes on liabilities and assets [Abstract]
Provisions notes [Abstract]
Disclosure of breakup of provisions [Abstract]
Disclosure of breakup of provisions [LineItems]
Provisions [Abstract]
Provisions for employee benefits [Abstract]
Provision leave encashment 14,99,072 9,30,796
Provision other employee related liabilities (A) 6,39,575 (B) 5,93,438
Total provisions for employee benefits 21,38,647 15,24,234
Total provisions 21,38,647 15,24,234
Footnotes
(A) For Bonus
(B) For Bonus
73
Subclassification of trade receivables [Table] ..(1)

Classification of assets based on security
Classification of assets based on security [Axis] Unsecured considered good [Member]
[Member]
31/03/2015 31/03/2014 31/03/2015 31/03/2014
Subclassification and notes on liabilities and assets
[Abstract]
Trade receivables notes [Abstract]
Trade receivables [Abstract]
Subclassification of trade receivables
[Abstract]
Subclassification of trade receivables
[LineItems]
Breakup of trade receivables [Abstract]
Trade receivables, gross 6,53,43,958 10,51,87,146 6,53,43,958 10,51,87,146
Allowance for bad and doubtful debts 0 0 0 0
Total trade receivables 6,53,43,958 10,51,87,146 6,53,43,958 10,51,87,146
Details of trade receivables due by
directors, other officers or others
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Total trade receivables due by
directors, other officers or 0 0
others
Details of trade receivables due by
firms or companies in which any director
is partner or director [Abstract]
Trade receivables due by firms in
0 0
which any director is partner
Total trade receivables due by firms
or companies in which any director is 0 0
partner or director
Classification of inventories [Table] ..(1)

Classification of inventories [Axis] Company total inventories [Member] Raw materials [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014
[Abstract]
Inventories notes [Abstract]
Inventories [Abstract]
Classification of inventories [Abstract]
Details of inventories [LineItems]
Inventories 47,97,29,335 44,96,83,424 (A) 19,80,42,816 (B) 16,07,54,771
Textual information Textual information Textual information Textual information
Mode of valuation (37) [See below] (38) [See below] (39) [See below] (40) [See below]
Footnotes
(A) Manganese Ore : 143748801 MnO Slag :1473330 Coal & Coke :40566138 Dolomite : 685872 Pig Iron : 2312412 Waste & Scrap of
Steel Fdy : 3297564 Waste & Scrap of Steel 1831760 Others : 4126939 Total 198042816
(B) Manganese Ore : 138196081 MnO Slag : 1870115 Coal & Coke : 4531809 Dolomite : 1537469 Pig Iron : 3661525 Waste & Scrap of
Steel : 5668375 Others : 5289397 Total 160754771
74

Classification of inventories [Axis] Work-in-progress [Member] Finished goods [Member]
01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014
[Abstract]
Inventories 25,73,56,270 25,76,21,663 1,36,77,349 2,11,74,080
Textual information Textual information Textual information Textual information
Mode of valuation (41) [See below] (42) [See below] (43) [See below] (44) [See below]

Classification of inventories [Axis] Stores and spares [Member]
01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Subclassification and notes on liabilities and assets [Abstract]
Inventories 1,06,52,900 1,01,32,910
Textual information Textual information
Mode of valuation (45) [See below] (46) [See below]
Loans and advances [Table] ..(1)

Classification of loans and advances [Axis] Capital advances [Member] Security deposits [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2015 31/03/2014 31/03/2015 31/03/2014
[Abstract]
Loans and advances notes [Abstract]
Loans and advances [Abstract]
Disclosure of loans and advances [LineItems]
Loans and advances, gross 25,500 25,500 (A) 77,79,410 (B) 1,01,09,162
Allowance for bad and doubtful loans and
0 0 0 0
advances
Loans and advances 25,500 25,500 77,79,410 1,01,09,162
Details of loans and advances due by
[Abstract]
Loans and advances due by directors 0 0 0 0
Loans and advances due by other officers 0 0 0 0
Total loans and advances due by
0 0 0 0
Details of loans and advances due by firms
or companies in which any director is
partner or director [Abstract]
Loans and advances due by firms in
0 0 0 0
Total loans and advances due
by firms or companies in which
0 0 0 0
any director is partner or
director
75
Footnotes
(A) With Govt.Authorities 7573191 With Others 206219 Total 206219
(B) With Govt.Authorities : 7652774 With Others : 181219

Loans advances given suppliers
Classification of loans and advances [Axis] Other loans and advances [Member]
[Member]
31/03/2015 31/03/2014 31/03/2015 31/03/2014
[Abstract]
Loans and advances, gross 1,69,18,556 1,92,62,642 77,28,614 52,66,577
0 0 0 0
advances
Loans and advances 1,69,18,556 1,92,62,642 77,28,614 52,66,577
[Abstract]
0 0 0 0
0 0 0 0
0 0 0 0
director
76

Classification of loans and advances [Axis] Advance tax [Member] Other advance taxes [Member]
31/03/2015 31/03/2014 31/03/2015 31/03/2014
[Abstract]
Loans and advances, gross 77,28,614 52,66,577 77,28,614 52,66,577
0 0 0 0
advances
Loans and advances 77,28,614 52,66,577 77,28,614 52,66,577
[Abstract]
0 0 0 0
0 0 0 0
0 0 0 0
director

Classification of loans and advances [Axis] Security deposits [Member] Other loans and advances [Member]
31/03/2015 31/03/2014 31/03/2015 31/03/2014
[Abstract]
Loans and advances, gross 7,03,106 1,49,071 4,99,33,744 7,44,84,177
0 0 0 0
advances
Loans and advances 7,03,106 1,49,071 4,99,33,744 7,44,84,177
[Abstract]
0 0 0 0
0 0 0 0
0 0 0 0
director
77

Other loans and advances, others
Classification of loans and advances [Axis] VAT receivable [Member]
[Member]
31/03/2015 31/03/2014 31/03/2015 31/03/2014
[Abstract]
Loans and advances, gross 4,87,59,095 7,33,11,760 11,74,649 11,72,417
0 0 0 0
advances
Loans and advances 4,87,59,095 7,33,11,760 11,74,649 11,72,417
[Abstract]
0 0 0 0
0 0 0 0
0 0 0 0
director
78

01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Disclosure of subclassification and notes on liabilities and assets
explanatory [TextBlock]
Trade payables, long-term 0 0
Others long-term, others 0 0
Total others, long-term 0 0
Total other long-term liabilities 0 0
Current maturities of long-term debt 2,00,00,000 2,49,00,000
Interest accrued but not due on borrowings 0 0
Interest accrued and due on borrowings 0 0
Interest accrued but not due on public deposits 0 0
Interest accrued and due on public deposits 0 0
Debentures claimed but not paid 0 0
Unpaid dividends 0 0
Application money received for allotment of securities and
0 0
due for refund, principal
Unpaid matured deposits and interest accrued thereon 0 0
Unpaid matured debentures and interest accrued thereon 0 0
Public deposit payable, current 0 0
Total other payables, current 0 0
Advance received from customers 1,04,99,534 1,57,04,035
Current liabilities portion of share application money pending
0 0
allotment
Other current liabilities, others (A) 1,72,43,126 (B) 1,28,64,602
Total other current liabilities 4,77,42,660 5,34,68,637
Aggregate amount of trade receivables outstanding for period
6,31,36,267 10,34,11,569
exceeding six months
Fixed deposits with banks 0 0
Other deposits with banks 42,64,261 1,87,753
Total balance with banks 42,64,261 1,87,753
Cash on hand 6,81,787 9,67,638
Total cash and cash equivalents 49,46,048 11,55,391
Other bank balances (C) 1,50,00,000 (D) 6,18,50,000

Total cash and bank balances 1,99,46,048 6,30,05,391
Balances held with banks to extent held as margin money 0 0
Total balances held with banks to extent held as
margin money or security against borrowings, 0 0
guarantees or other commitments
Bank deposits with more than twelve months maturity 0 0
Other current assets, others (E) 49,82,702 (F) 2,69,27,013

Total other current assets 49,82,702 2,69,27,013
Footnotes
(A) Statutory liabilities 16,264,968 Unpaid salaries and other payroll dues 221,744 Accrued expenses 756,414 Total 17,243,126
(B) Statutory liabilities 11811663 Unpaid salaries and other payroll dues 138173 Accrued expenses 914766 Total 12864602.00
(C) - Upto 3 months from Balance Sheet date 15,000,000 - From 3 months to 12 months from Balance Sheet date
(D) - Upto 3 months from Balance Sheet date : 61850000 - From 3 months to 12 months from Balance Sheet date : 0
(E) Interest accrued and due - Prepaid Gratuity (365,246) BSAL - Employees Gratuity Fund 1,000 FPS Receivable 3,056,022 Duty
Drawback Receivable 2,290,926 Total 4,982,702
(F) Interest accrued and due : 1137926 Prepaid Gratuity : 340691 BSAL - Employees Gratuity Fund : 1000 FPS Receivable : 11479101
Duty Drawback Receivable : 13968295
79
Mode of valuation
Inventories Inventories are valued as follows: Raw materials & Stores and SparesRaw materials & production consumables are valued at lower of
cost and net realizable value. However, materials and other items held for use in the production of inventories are not written down below cost if
the finished products in which they will be incorporated are expected to be sold at or above cost. Cost is determined on a weighted average basis.
Stores & Spares are valued on estimated basis. Work-in- Process and Finished Goods At lower of cost and net realizable value. Cost includes
direct materials and labour and a proportion of manufacturing overheads based on normal operating capacity. Cost of finished goods includes
excise duty. Cost is determined on a weighted average basis. Net realizable value is the estimated selling price in the ordinary course of business,
less estimated costs of completion and estimated costs necessary to make the sale.
Mode of valuation
Mode of valuation
Mode of valuation
Mode of valuation
80
Mode of valuation
Mode of valuation
Mode of valuation
Mode of valuation
Mode of valuation
81
[200700] Notes - Additional disclosures on balance sheet

01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Disclosure of additional balance sheet notes explanatory [TextBlock]
Claims against company not acknowledged as debt 0 0
Total contingent liabilities 0 0
Total contingent liabilities and commitments 0 0
Amount of dividends proposed to be distributed to equity shareholders 0 0
Amount of per share dividend proposed to be distributed to equity
[shares] 0 [shares] 0
shareholders
Amount of per share dividend proposed to be distributed to
[shares] 0 [shares] 0
preference shareholders
Percentage of proposed dividend 0.00% 0.00%
Deposits accepted or renewed during period 0 0
Deposits matured and claimed but not paid during period 0 0
Deposits matured and claimed but not paid 0 0
Deposits matured but not claimed 0 0
Interest on deposits accrued and due but not paid 0 0
Additions to equity share warrants during period 0 0
Deductions in equity share warrants during period 0 0
Total changes in equity share warrants during period 0 0
Equity share warrants at end of period 0 0
Equity share warrants for existing members 0 0
Equity share warrants for others 0 0
Total equity share warrants 0 0
Share application money received during year 0 0
Share application money paid during year 0 0
Amount of share application money received back during year 0 0
Amount of share application money repaid returned back during year 0 0
Number of person share application money paid during year 0 0
Number of person share application money received during year 0 0
Number of person share application money paid as at end of year 0 0
Number of person share application money received as at end of year 0 0
Whether maintenance of cost records by company has been
mandated under Companies (Cost Records and Audit) Rules, Yes Yes
2014
Silico Manganese Silico Manganese
S.G.C.I. Inserts Steel S.G.C.I. Inserts Steel
If yes, Central Excise Tariff Act, heading in which product/ Billets Others Traded Billets Others Traded
service is covered under cost records Goods Silico Manganese Goods Silico Manganese
High Mno Slag Met Coke High Mno Slag Met Coke
Manganese Ore Manganese Ore
Whether audit of cost records of company has been mandated
Yes Yes
under Rules specified in SN 1
Silico Manganese Silico Manganese
S.G.C.I. Inserts Steel S.G.C.I. Inserts Steel
If yes, Central Excise Tariff Act, heading in which product/ Billets Others Traded Billets Others Traded
service is covered under cost audit Goods Silico Manganese Goods Silico Manganese
High Mno Slag Met Coke High Mno Slag Met Coke
Manganese Ore Manganese Ore
Unclaimed share application refund money 0 0
Unclaimed matured debentures 0 0
Unclaimed matured deposits 0 0
Interest unclaimed amount 0 0
Number of warrants converted into equity shares during period 0 0
Number of warrants converted into preference shares during period 0 0
Number of warrants converted into debentures during period 0 0
Number of warrants issued during period (in foreign currency) 0 0
Number of warrants issued during period (INR) 0 0
82
[200800] Notes - Disclosure of accounting policies, changes in accounting policies and estimates
01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Disclosure of accounting policies, change in accounting policies and Textual information (47) Textual information (48)
changes in estimates explanatory [TextBlock] [See below] [See below]
Disclosure of accounting policies explanatory [TextBlock] [See below] [See below]
83
Disclosure of accounting policies, change in accounting policies and changes in estimates explanatory [Text Block]
1. Significant Accounting Policies
Accounting Concepts
The financial statements of the company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian
GAAP) to comply in all material respects with the accounting standards specified under section 133 of the Companies Act, 2013 read with Rule 7
of the Companies (Accounts) Rules, 2014 and the relevant provisions of the Companies Act, 2013 (ï¿½the Actï¿½). The financial statements have
been prepared under the historical cost convention on an accrual basis. The accounting policies have been consistently applied by the Company
and except for the changes discussed more fully below, are consistent with those used in the previous year.
Use of Estimates
The preparation of financial statements in conformity with Indian GAAP require the Management to make estimates and assumptions considered
in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The
Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due
to these estimates and the differences between the actual results and the estimates are recognized in the periods in which the results are
known/materialize.
Borrowing Costs
Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized as part of the cost of such assets. A
qualifying asset is one that necessarily takes substantial period to get ready for intended use. All other borrowing costs are charged to revenue.
Impairment
The carrying amount of assets / cash generating units are reviewed at each balance sheet date to determine if there is any indication of impairment
based on internal/external factors. An impairment loss is recognized wherever the carrying amount of an asset exceeds its recoverable amount,
which represents the greater of the net selling price of assets and their value in use. The estimated future cash flows are discounted to their
present value at the weighted average cost of capital.
Cash and Cash Equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short-term investments with an original maturity of three
months or less, highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of
changes in value.
Cash flow statements
Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects of
transactions of non cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing,
and financing activities of the company are segregated based on the available information.
Revenue Recognition
Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably
measured.
Sale of Goods
84
Revenue from sale of goods is recognized on passage of significant risk and reward of ownership thereof to the customers, which generally
coincides with delivery and includes excise duty thereon net of returns, claims, rebates, discounts, Sales Tax, VAT etc.
Interest
Revenue is recognised on a time proportion basis taking into account the amount outstanding and the rate applicable.
Fixed Assets
Fixed assets are stated at cost less accumulated depreciation. Cost comprises the purchase price inclusive of duties (net of CENVAT and VAT
Credit), taxes, incidental expenses, erection / commissioning expenses, interest and any other cost attributable of bringing the asset to its working
condition and for its intended use upto the date the asset is ready to be put to use. Useful life of the assets have been determined according to the
nature and specification of the assets which is different in some cases from the life as specified in the schedule-II of the Companies Act, 2013.
Depreciation and Amortisation
In respect of fixed assets (other than capital work in progress) acquired during the year, depreciation/amortization is charged on a written down
value method and calculated on prorata basis according to the period the assets have been put to use so as to write off the cost of the assets over
the useful lives and for the assets acquired prior to 1st April, 2014, the carrying amount as on 1st April, 2014 is depreciated over the remaining
useful life based on an evaluation. Assets costing less than ` 5,000/- individually have been fully depreciated in the year of purchase.
Type of Assets Estimated useful life (Years)
Leasehold Land Lease period
Buildings
60
Ferro Division
45
Foundry Division
50
Steel Division
Plant and Machinery
13
Ferro Division
9
Foundry Division
18
Steel Division
Electrical Equipments
85
Ferro Division 14
Foundry Division 12
Steel Division 15
Computer 3
Furniture and Fixtures 10
Vehicle
10
Motor Cycle, Scooter, and other Mopeds
8
Motor Buses, Motor Car
Office Equipments 5
Inventories
Inventories are valued as follows:
Raw materials and Stores and Spares Raw materials and production consumables are valued at lower of cost and net realizable value.
However, materials and other items held for use in the production of inventories are not written down below cost if the finished products in which
they will be incorporated are expected to be sold at or above cost. Cost is determined on a weighted average basis. Stores and Spares are valued
on estimated basis.
Work-in- Process
and Finished Goods At lower of cost and net realizable value. Cost includes direct materials and labour and a proportion of manufacturing
overheads based on normal operating capacity. Cost of finished goods includes excise duty. Cost is determined on a weighted average basis.Net
realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and estimated costs necessary
to make the sale.
Foreign Exchange Transaction
(i) Initial Recognition
Transactions in foreign currencies entered into by the company are accounted at the exchange rates prevailing on the date of the transaction or at
rates that closely approximate the rate at the date of the transaction.
(ii) Measurement at the Balance Sheet date
86
Foreign currency monetary items are reported using the closing rate. Non-monetary items which are carried in terms of historical cost
denominated in a foreign currency are reported using the exchange rate at the date of the transaction; and non-monetary items which are carried at
fair value or other similar valuation denominated in a foreign currency are reported using the exchange rates that existed when the values were
determined.
(iii) Exchange Differences
Exchange differences arising on the settlement / conversion of monetary items are recognized as income or expenses in the period in which they
arise.
(iv) Forward Exchange Contracts not intended for trading or speculation purposes
The premium or discount arising at the inception of forward exchange contracts is amortized as expense or income over the life of the contract.
Exchange differences on such contracts are recognized in the statement of profit and loss in the year in which the exchange rates change. Any
profit or loss arising on cancellation or renewal of forward exchange contract is recognized as income or expense for the year.
Retirement and other Employee Benefits
Retirement benefits in the form of Provident / Superannuation Funds are defined contribution schemes and the contributions are charged to the
Profit and Loss Account in the year when the contributions to the respective funds are due.
Gratuity liability is a defined benefit obligation and is provided for on the basis of actuarial valuation on projected unit credit method made at the
end of each financial year.
Short term compensated absences are provided for based on estimates whereas long term compensated absences are provided for on the basis of
actuarial valuation.
Actuarial gains/losses are immediately taken to profit and loss account and are not deferred.
Bonus
Bonus for the employees who have completed the requisite period of service under the Payment of Bonus Act, 1965, have been provided in the
account.
Taxation
Current tax is the amount of tax payable on the taxable income for the year as determined in accordance with the applicable tax rates and the
provisions of the Income Tax Act, 1961 and other applicable tax laws.
Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which gives future economic benefits in the form of adjustment to future
income tax liability, is considered as an assets if there is convincing evidence that the company will pay normal income tax.
Deferred Tax is recognized, subject to the consideration of prudence, on timing differences, being difference between taxable and accounting
income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assets are not recognized unless
there is a ï¿½virtual certainty' that sufficient taxable income will be available against which such deferred tax assets will be realized. Deferred Tax
Assets and Liabilities are offset if such items relate to taxes on income levied by the same governing tax laws and the company has a legally
enforceable right for such setoff. Deferred tax assets are reviewed at each Balance Sheet date for their realisability.
87
Segment Reporting
a) Based on the Organizational Structure and its Financial Reporting System, the Company has classified its operation into Four business
segments namely Ferro Division, Foundry Division, Steel Division and Trading Activities.
b) Revenue and Expenses have been identified to segment on the basis of their relationship to the operating activities of the segment. Revenue
and expenses which are related to the enterprise as a whole and are not allocable to segment on a reasonable basis, have been included under
unallocable expenses.
c) Capital Employed to each segment is classified on the basis of allocable assets minus allocable liabilities identifiable to each segment on
reasonable basis.
Provisions, contingent liabilities and contingent assets
A provision is recognised when an enterprise has a present obligation as a result of past event and it is probable that an outflow of resources will
be required to settle the obligation, in respect of which a reliable estimate can be made. Provisions (excluding retirement benefits) are not
discounted to its present value and are determined based on best estimates required to settle the obligation at the balance sheet date. These are
reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. Contingent assets are not recognized in the financial
statements and contingent assets and liabilities are disclosed in note 2.24.
Derivative Instruments
As per the announcement made by the Institute of Chartered Accountants of India, the accounting for derivative contracts, other than those
covered under Accounting Standard 11, are marked to market on a portfolio basis, and the net loss after considering the offsetting effect of the
underlying hedge item is charged to the income statement. Net gains are ignored as a matter of prudence.
Operating Cycle
All Assets and Liabilities have been classified as current or non-current as per the company's normal operating cycle and other criteria set out in
the Companies' Act, 2013. Based on the nature of services provided and time between the rendering of services and their realization in cash and
cash equivalents, the company has ascertained its operating cycle as 12 months for the purpose of current and non-current classification of assets
and liabilities.
88
Disclosure of accounting policies, change in accounting policies and changes in estimates explanatory [Text Block]
Accounting Concepts
Use of Estimates
known/materialize.
Borrowing Costs
Impairment
changes in value.
Revenue Recognition
measured.
Sale of Goods
89
Interest
Fixed Assets
Buildings
60
Ferro Division
45
Foundry Division
50
Steel Division
Plant and Machinery
13
Ferro Division
9
Foundry Division
18
Steel Division
90
Ferro Division 14
Foundry Division 12
Steel Division 15
Computer 3
Vehicle
10
8
Office Equipments 5
Inventories
on estimated basis.
Work-in- Process
to make the sale.
91
determined.
arise.
Bonus
account.
Taxation
92
Segment Reporting
reasonable basis.
Operating Cycle
and liabilities.
93
Disclosure of accounting policies explanatory [Text Block]

Accounting Concepts
Use of Estimates
known/materialize.
Borrowing Costs
Impairment
changes in value.
Revenue Recognition
measured.
Sale of Goods
94
Interest
Fixed Assets
Buildings
60
Ferro Division
45
Foundry Division
50
Steel Division
Plant and Machinery
13
Ferro Division
9
Foundry Division
18
Steel Division
95
Ferro Division 14
Foundry Division 12
Steel Division 15
Computer 3
Vehicle
10
8
Office Equipments 5
Inventories
on estimated basis.
Work-in- Process
to make the sale.
96
determined.
arise.
Bonus
account.
Taxation
97
Segment Reporting
reasonable basis.
Operating Cycle
and liabilities.
98
Disclosure of accounting policies explanatory [Text Block]

Accounting Concepts
Use of Estimates
known/materialize.
Borrowing Costs
Impairment
changes in value.
Revenue Recognition
measured.
Sale of Goods
99
Interest
Fixed Assets
Buildings
60
Ferro Division
45
Foundry Division
50
Steel Division
Plant and Machinery
13
Ferro Division
9
Foundry Division
18
Steel Division
100
Ferro Division 14
Foundry Division 12
Steel Division 15
Computer 3
Vehicle
10
8
Office Equipments 5
Inventories
on estimated basis.
Work-in- Process
to make the sale.
101
determined.
arise.
Bonus
account.
Taxation
102
Segment Reporting
reasonable basis.
Operating Cycle
and liabilities.
[201700] Notes - Government grants

01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Disclosure of notes on government grants explanatory [TextBlock]
Capital subsidies or grants received from government authorities 0 0
Revenue subsidies or grants received from government authorities 0 0
103
[201200] Notes - Employee benefits

01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Disclosure of employee benefits explanatory [TextBlock] [See below] [See below]
Disclosure of employee benefits explanatory [Text Block]

Retirement and other employee benefits
Disclosure of employee benefits explanatory [Text Block]

Retirement and other employee benefits
104
[201600] Notes - Related party
Disclosure of relationship and transactions between related parties [Table] ..(1)

Categories of related parties [Axis] M1 M2
01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014
Disclosure of relationship and transactions between
related parties [Abstract]
related parties [LineItems]
Mr.Shrawan Kumar Mr.Shrawan Kumar Mr. Krishna Kumar Mr. Krishna Kumar
Name of related party Todi Todi Rungta Rungta
Country of incorporation or residence of related
INDIA INDIA INDIA INDIA
party
Permanent account number of related party ABWPT5354P ABWPT5354P AFNPR8688D AFNPR8688D
Key Management Key Management Key Management Key Management
Description of nature of related party relationship Personnel Personnel Personnel Personnel
Description of nature of transactions with related GENERAL GENERAL GENERAL GENERAL
party BUSINESS BUSINESS BUSINESS BUSINESS
Transaction relating to key management personnel
[Abstract]
Remuneration for key managerial personnel 0 0 0 0
Remuneration for key managerial personnel,
0.00% 0.00% 0.00% 0.00%
percentage
Amount written off during period in respect
0 0 0 0
of debts due from related parties
Amount written back during period in respect
0 0 0 0
of debts due to related parties

01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014
Mr. Mukesh Kumar Mr. Mukesh Kumar
Name of related party Mr. Manoj Baheti Mr. Manoj Baheti
Rathi Rathi
Country of incorporation or residence of related
INDIA INDIA INDIA INDIA
party
Permanent account number of related party AHMPB0300R AHMPB0300R AHRPR3584N AHRPR3584N
Key Management Key Management Key Management Key Management
Description of nature of related party relationship Personnel Personnel Personnel Personnel
Description of nature of transactions with related GENERAL GENERAL GENERAL GENERAL
party BUSINESS BUSINESS BUSINESS BUSINESS
Transaction relating to key management personnel
[Abstract]
Remuneration for key managerial personnel 0 0 0 0
Remuneration for key managerial personnel,
0.00% 0.00% 0.00% 0.00%
percentage
Amount written off during period in respect
0 0 0 0
Amount written back during period in respect
0 0 0 0
105

01/04/2014 01/04/2013 01/04/2014 01/04/2013
to to to to
31/03/2015 31/03/2014 31/03/2015 31/03/2014
Disclosure of relationship and
transactions between
Disclosure of relationship and
transactions between
TIRUMALA BALAJI TIRUMALA BALAJI
SURYA ALLOY SURYA ALLOY
Name of related party INDUSTRIES LIMITED INDUSTRIES LIMITED
ALLOYS PRIVATE ALLOYS PRIVATE
LIMITED LIMITED
Country of incorporation or
residence of related INDIA INDIA INDIA INDIA
party
CIN of related party U27104WB1990PLC050102 U27104WB1990PLC050102 U27101WB2004PTC195282 U27101WB2004PTC195282
Enterprises which are Enterprises which are Enterprises which are Enterprises which are
Description of nature of related party owned, or have significant owned, or have significant owned, or have significant owned, or have significant
influence of or are partners influence of or are partners influence of or are partners influence of or are partners
relationship with Key management with Key management with Key management with Key management
personnel and their relatives personnel and their relatives personnel and their relatives personnel and their relatives
Description of nature of transactions
with related GENERAL BUSINESS GENERAL BUSINESS GENERAL BUSINESS GENERAL BUSINESS
party
Amount written off during period in
respect 0 0 0 0
Amount written back during period
in respect 0 0 0 0

01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Disclosure of notes on related party explanatory [TextBlock] [See below]
Whether there are any related party transactions during year Yes Yes
Whether company is subsidiary company No No
106
Disclosure of notes on related party explanatory [Text Block]
Related party
disclosures as
6. per Accounting
Standard - 18 are
given below :
Name of the related parties

a) and description of
relationship :
Mr.Shrawan Enterprises
Key Managerial Personnel
i) Kumar Todi, ii) over which
(KMP):
Director KMP and
their
Mr. Krishna relatives

Kumar have
Rungta, substantial
Director interest :
Mr. Manoj
Baheti,
Director *
Mr. Mukesh
Kumar Rathi
**
Transactions with Related

b)
parties :
Enterprises
over which
KMP and their
Nature of Transaction
relatives have
substantial
interest
107
Mr. Mr.
Mr. Mr. Tirumala
Krishna Mukesh Surya Alloy
Shrawan Manoj Balaji Alloys Total
Kumar Kumar Industries Ltd.
Kumar Todi Baheti Pvt. Ltd.
Rungta Rathi
Sales of Finished Goods &

- - - - -
Raw Materials 122,510,677 122,510,677
- - - - -
(19,590,313) (19,590,313)
Purchase of Raw Materials - - - -

224,812,070 42,719,479 267,531,549
- - - - -
(198,550,126) (198,550,126)
Other Services - - - -
8,473,091 8,322,294 16,795,385
- - - - - -
-
Advances Taken and

- - - -
Refunded Back 13,471,033 1,263,854 14,734,887
- - - -
(47,563,112) (145,000,000) (192,563,112)
Loan Taken - - - -
10,000,000 116,100,000 126,100,000
- - - -
(261,132,048) - (261,132,048)
Loan Repaid - - - -
10,000,000 116,100,000 126,100,000
- - - -
(261,132,048) (15,020,713) (276,152,761)
Interest Paid - - - - -
442,477 442,477
- - - - -
- -
108
Rent Paid - - - - - - -
- - - - - -
-
Salary / Managerial
- - - - -
Remuneration 337,111 337,111
- - - - - -
-
Sitting Fees - - - - - -
-
- - - - - -
-
Balances Receivable at the

- - - - -
year end 20,999,393 20,999,393
- - - - -
(10,654,923) (10,654,923)
Balances Payable at the

- - - - -
year end 172,032,661 172,032,661
- - - -
(13,500,004) - (13,500,004)
Balance of Advance
- - - - - - -
Payable at the year end
- - - - - - -
No amount has been written

back / written off during the
c)
year in respect of due to /
from related parties .
The amount due from

related parties are good and
hence no provision for
d)
doubtful debts in respect of
dues from such related
parties is required.
The transactions with

related parties have been
entered at an amount which
109
e) are not materially different

from those on normal
commercial terms.
Figures in brackets pertain

f)
to previous year.
* Resigned during the year
** Appointed during the year
[201400] Notes - Leases

01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Disclosure of leases explanatory [TextBlock]
Whether any operating lease has been converted to financial lease or
No No
vice-versa
[300300] Notes - Earnings per share

01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Disclosure of earnings per share explanatory [TextBlock]
Adjustments of numerator to calculate basic earnings per share [Abstract]
Adjustments of numerator to calculate diluted earnings per share [Abstract]
[202800] Notes - Subsidiary information

01/04/2014
to
31/03/2015
Disclosure of subsidiary information explanatory [TextBlock]
Whether company has subsidiary companies No
Whether company has subsidiary companies which are yet to commence
No
operations
Whether company has subsidiary companies liquidated or sold during year No
110
[202400] Notes - Investments in associates

01/04/2014
to
31/03/2015
Disclosure of notes on investment in associates explanatory [TextBlock]
Whether company has invested in associates No
Whether company has associates which are yet to commence operations No
Whether company has associates liquidated or sold during year No
[202500] Notes - Financial reporting of interests in joint ventures

01/04/2014
to
31/03/2015
Disclosure of notes on interests in joint ventures explanatory [TextBlock]
Whether company has invested in joint ventures No
Whether company has joint ventures which are yet to commence operations No
Whether company has joint ventures liquidated or sold during year No
[202700] Notes - Cash flow statements

31/03/2015 31/03/2014
Disclosure of cash flow statement explanatory [TextBlock]
Cash and cash equivalents if different from balance sheet [Abstract]
Cash and cash equivalents cash flow statement 49,46,048 11,55,391
Total cash and cash equivalents 49,46,048 11,55,391
111
[100200] Statement of profit and loss

01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Statement of profit and loss [Abstract]
Disclosure of revenue from operations [Abstract]
Disclosure of revenue from operations for other than finance company
[Abstract]
Revenue from sale of products 143,78,70,385 130,54,61,637
Revenue from sale of services 0 0
Other operating revenues 12,37,74,702 2,69,56,687
Excise duty 6,28,07,069 4,50,53,654
Total revenue from operations other than finance company 149,88,38,018 128,73,64,670
Total revenue from operations 149,88,38,018 128,73,64,670
Other income 27,85,555 28,41,649
Total revenue 150,16,23,573 129,02,06,319
Expenses [Abstract]
Cost of materials consumed (A) 64,57,38,199 (B) 63,39,61,456
Purchases of stock-in-trade (C) 23,99,41,973 (D) 27,48,12,809
Changes in inventories of finished goods, work-in-progress and
68,54,676 -3,81,30,726
stock-in-trade
Employee benefit expense 4,94,51,174 3,00,23,857
Finance costs 7,55,74,565 5,76,73,596
Depreciation, depletion and amortisation expense [Abstract]
Depreciation expense 3,32,09,294 2,16,21,991
Total depreciation, depletion and amortisation expense 3,32,09,294 2,16,21,991
CSR expenditure 0 0
Other expenses 56,85,45,023 45,31,10,624
Total expenses 161,93,14,904 143,30,73,607
Total profit before prior period items, exceptional items, extraordinary
-11,76,91,331 -14,28,67,288
items and tax
Total profit before extraordinary items and tax -11,76,91,331 -14,28,67,288
Total profit before tax -11,76,91,331 -14,28,67,288
Tax expense [Abstract]
Current tax 0 0
Total tax expense 0 0
Total profit (loss) for period from continuing operations -11,76,91,331 -14,28,67,288
Total profit (loss) for period before minority interest -11,76,91,331 -14,28,67,288
Total profit (loss) for period -11,76,91,331 -14,28,67,288
Earnings per equity share [Abstract]
Basic earning per equity share [shares] -9.42 [shares] -11.43
Diluted earnings per equity share [shares] -9.42 [shares] -11.43
Nominal value of per equity share [shares] 10 [shares] 10
Footnotes
(A) Manganese Ore 307,972,946 MnO Slag 29,437,110 Coal & Coke 110,831,453 Dolomite 1,965,154 Pig Iron 58,963,127 Waste &
Scrap of Steel 76,256,672 Bloom - Others 60,311,737 Total 645,738,199
(B) Manganese Ore 348,578,815 MnO Slag 29,764,470 Coal & Coke 113,307,872 Dolomite 1,716,872 Pig Iron 43,894,937 Waste &
Scrap of Steel 49,693,923 Bloom - Others 47,004,567 Total 633,961,456
(C) Silico Manganese -High Mno Slag 1,220,000 Met Coke 4,049,628 Manganese Ore 234,672,345 Total 239,941,973
(D) Silico Manganese 114,557,725 Manganese Ore 160,255,084 Total 274,812,809
112
[300500] Notes - Subclassification and notes on income and expenses

01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Subclassification and notes on income and expense explanatory [TextBlock]
Disclosure of revenue from sale of products [Abstract]
Revenue from sale of products [Abstract]
Revenue from sale of products, gross (A) 143,78,70,385 (B) 130,54,61,637
Total revenue from sale of products 143,78,70,385 130,54,61,637
Disclosure of revenue from sale of services [Abstract]
Revenue from sale of services [Abstract]
Revenue from sale of services, gross 0 0
Total revenue from sale of services 0 0
Disclosure of other operating revenues [Abstract]
Other operating revenues [Abstract]
Miscellaneous other operating revenues (C) 12,37,74,702 (D) 2,69,56,687
Total other operating revenues 12,37,74,702 2,69,56,687
Disclosure of other income [Abstract]
Interest income [Abstract]
Interest income on long-term investments [Abstract]
Interest on fixed deposits, long-term investments 7,95,653 23,85,310
Interest on long-term intercorporate deposits 0 18,630
Interest on other long-term investments 9,31,483 4,37,709
Total interest income on long-term investments 17,27,136 28,41,649
Total interest income 17,27,136 28,41,649
Dividend income [Abstract]
Dividend income current investments [Abstract]
Dividend income current investments from subsidiaries 0 0
Total dividend income current investments 0 0
Total dividend income 0 0
Other non-operating income [Abstract]
Miscellaneous other non-operating income (E) 10,58,419
0
Total other non-operating income 10,58,419 0

Total other income 27,85,555 28,41,649
Disclosure of finance cost [Abstract]
Interest expense [Abstract]
Interest expense long-term loans [Abstract]
Interest expense long-term loans, banks 0 0
Total interest expense long-term loans 0 0
Total interest expense 0 0
Other borrowing costs (F) 7,55,74,565 (G) 5,76,73,596

Total finance costs 7,55,74,565 5,76,73,596
Employee benefit expense [Abstract]
Salaries and wages 3,79,83,334 2,29,18,601
Contribution to provident and other funds [Abstract]
Contribution to provident and other funds for others 1,09,55,690 67,03,729
Total contribution to provident and other funds 1,09,55,690 67,03,729
Staff welfare expense 5,12,150 4,01,527
Total employee benefit expense 4,94,51,174 3,00,23,857
Breakup of other expenses [Abstract]
Consumption of stores and spare parts 2,05,02,405 1,65,37,316
Power and fuel 39,06,24,147 28,91,09,884
Rent 22,92,934 19,10,468
Repairs to building 4,13,600 67,878
Repairs to machinery 11,74,529 52,62,493
Insurance 3,83,501 4,93,429
Rates and taxes excluding taxes on income [Abstract]
113
Other cess taxes 66,19,828 46,67,531

Total rates and taxes excluding taxes on income 66,19,828 46,67,531
Directors sitting fees 0 0
Managerial remuneration [Abstract]
Remuneration to directors [Abstract]
Salary to directors 0 0
Total remuneration to directors 0 0
Total managerial remuneration 0 0
Bank charges 3,72,359 35,62,668
After sales service expenses (H) 2,21,93,700 (I) 2,68,21,116

Discounting charges 0 1,44,620
Cost repairs maintenance other assets 1,93,492 2,34,958
Cost information technology [Abstract]
Cost software 0 0
Total cost information technology 0 0
Cost transportation [Abstract]
Cost freight 5,19,50,662 3,96,71,727
Total cost transportation 5,19,50,662 3,96,71,727
Provision bad doubtful debts created 0 0
Provision bad doubtful loans advances created 0 0
Write-off assets liabilities [Abstract]
Miscellaneous expenditure written off [Abstract]
Financing charges written off 0 0
Total miscellaneous expenditure written off 0 0
Bad debts written off 0 0
Bad debts advances written off 0 0
Total write-off assets liabilities 0 0
Loss on disposal of intangible asset 0 0
Loss on disposal, discard, demolishment and destruction of depreciable
0 0
tangible asset
Contract cost [Abstract]
Site labour supervision cost contracts 5,36,03,863 4,11,17,908
Total contract cost 5,36,03,863 4,11,17,908
Payments to auditor [Abstract]
Payment for audit services 55,000 55,000
Payment for taxation matters 22,000 22,000
Payment for other services 46,500 51,000
Payment for reimbursement of expenses 22,911 9,932
Total payments to auditor 1,46,411 1,37,932
Miscellaneous expenses (J) 1,80,73,592 (K) 2,33,70,696

Total other expenses 56,85,45,023 45,31,10,624
Current tax [Abstract]
Current tax pertaining to current year 0 0
Total current tax 0 0
114
Footnotes
(A) Sale of goods (Gross) (A) Finished Goods Silico Manganese 879,515,417 S.G.C.I. Inserts 281,279,510 Steel Billets - Others
7,907,250 Total (A) 1,168,702,177 (B) Traded Goods Silico Manganese - High Mno Slag 1,393,265 Met Coke 4,272,130 Manganese Ore
263,502,813 Total (B) 269,168,208 Grand Total (A+B) 1,437,870,385
(B) Sale of goods (Gross) (A) Finished Goods Silico Manganese 782,919,446 S.G.C.I. Inserts 207,087,946 Steel Billets - Others
10,972,914 1,000,980,306 (B) Traded Goods Silico Manganese 115,476,668 High Mno Slag - Met Coke - Manganese Ore 189,004,664
Total (B) 304,481,332 Grand Total (A+B) 1,305,461,638
(C) Other operating revenues Conversion Charges (Gross) 111,976,471 Export Duty Drawback 5,521,608 Income from FPS Licence
3,041,409 Sale of Status Holder Licence 3,235,214 Sale of FPS Licence 0 Total 123,774,702
(D) Conversion Charges (Gross) : 0 Income from FPS Licence : 11488483 Export Duty Drawback : 12200366 Sale of FPS Licence :
3267838
(E) translations 1,012,565 Profit on sale of fixed assets 45,854 Total 1,058,419
(F) Finance cost on borrowings 72,831,197 Other borrowing costs 2,743,368 Total 75,574,565
(G) Other borrowing costs : 1775177 Finance cost on borrowings : 55898419
(H) Selling & Distribution Expenses
(I) Selling & Distribution Expenses
(J) Stock Audit Fees 48,840 ISO Surveillance Audit Fees 93,000 Net Loss on foreign currency transactions and 1,954,063 Share
Processing Fees 0 Miscellaneous expenses 15,977,688 Total 18,073,592
(K) Stock Audit Fees 55,650 ISO Surveillance Audit Fees 23,000 Net Loss on foreign currency transactions and 8,304,048 Share
Processing Fees 100,000 Miscellaneous expenses 14,887,998 Total 23,370,696
[300600] Notes - Additional information statement of profit and loss

01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Additional information on profit and loss account explanatory [TextBlock]
Changes in inventories of finished goods 74,96,731 -8,84,271
Changes in inventories of work-in-progress -6,42,055 -3,72,46,455
Total changes in inventories of finished goods, work-in-progress and
68,54,676 -3,81,30,726
stock-in-trade
Revenue other services 0 0
Total gross income from services rendered 0 0
Expenditure on royalty 0 0
Expenditure on dividend paid 0 0
Total expenditure in foreign currency 0 0
Final dividend remitted in foreign currency 0 0
Total amount of dividend remitted in foreign currency 0 0
Earnings on royalty 0 0
Total earnings on royalty, know-how, professional and
0 0
consultation fees
Total earnings in foreign currency 0 0
Domestic sale traded goods 143,78,70,385 130,54,61,637
Total domestic turnover goods, gross 143,78,70,385 130,54,61,637
Total revenue from sale of products 143,78,70,385 130,54,61,637
Domestic revenue services 0 0
Total revenue from sale of services 0 0
Gross value of transaction with related parties as per AS-18 0 0
Bad debts of related parties as per AS-18 0 0
[300100] Notes - Revenue

01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Disclosure of revenue explanatory [TextBlock] [See below] [See below]
115
Disclosure of revenue explanatory [Text Block]

Revenue Recognition
measured.
Sale of Goods
Interest
Disclosure of revenue explanatory [Text Block]

Revenue Recognition
measured.
Sale of Goods
Interest
116
[202200] Notes - Effects of changes in foreign exchange rates

31/03/2015 31/03/2014
Disclosure of notes on effect of changes in foreign exchange rates
explanatory [TextBlock]
Details of change in classification of significant foreign operation
[Abstract]
Impact of change in classification of significant foreign operation
0 0
on shareholders' fund
[300700] Notes - Key managerial personnels and directors remuneration and other information
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors [Table] ..(1)
Key managerial personnels and directors [Axis] M1 M2 M3 M4
01/04/2014 01/04/2014 01/04/2014 01/04/2014
to to to to
31/03/2015 31/03/2015 31/03/2015 31/03/2015
Disclosure of key managerial personnels and directors and
remuneration to key managerial personnels and directors
[Abstract]
Disclosure of key managerial personnels and directors
and remuneration to key managerial personnels and
directors [LineItems]
SHRAWAN SANJEEV MUKESH KUMAR CHANDANI
Name of key managerial personnel or director KUMAR TODI AGARWAL RATHI MOHTA
Director identification number of key managerial
00080303 00080755 06683723
personnel or director
Permanent account number of key managerial
AIRPM7315H
personnel or director
Date of birth of key managerial personnel or
01/08/1943 23/04/1967 25/08/1986
director
Designation of key managerial personnel or director Independent Director Independent Director Independent Director Company Secretary
Qualification of key managerial personnel or
B.Com B.Com CA & CS CS
director
Shares held by key managerial personnel or director [shares] 6,38,100 [shares] 0 [shares] 0 [shares] 0
Key managerial personnel or director remuneration
[Abstract]
Gross salary to key managerial personnel or
director [Abstract]
Salary key managerial personnel or director 0 0 0 0
Gross salary to key managerial personnel or
0 0 0 0
director
Total key managerial personnel or director
0 0 0 0
remuneration
[301000] Notes - Corporate social responsibility

01/04/2014 01/04/2013
to to
31/03/2015 31/03/2014
Disclosure of corporate social responsibility explanatory [TextBlock]
Whether provisions of corporate social responsibility are applicable on
No No
company
117

2014 15 PDF

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

2014 15 PDF

Uploaded by

Copyright:

Available Formats

BHASKAR SHRACHI ALLOYS LTD

Standalone Financial Statements for period 01/04/2014 to 31/03/2015

[400100] Disclosure of general information about company

[400400] Disclosures - Directors report

NIC code of product/service 7202 3371 3309

Details of contracts/arrangements/transactions not at arm's length basis [Table] ..(1)

Particulars of holding, subsidiary and associate companies [Table] ..(1)

Details of indebtedness of company [Table] ..(1)

Details of indebtedness of company [Table] ..(2)

Details of directors signing board report [Table] ..(1)

Details of change in promoters? shareholding [Table] ..(1)

Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(1)

Unless otherwise specified, all monetary values are in INR

Disclosure of change in nature of business [TextBlock] No Remarks

Textual information (1)

Disclosure in board of directors report explanatory [Text Block]

(i) Gross Sales 143.79 130.55

(ii) Net Sales/Income from operations (net of excise) 137.51 126.04

(iii) Other Income 12.38 2.98

(iv) Profit/(Loss) before Interest, Depreciation, Tax (0.89) (6.36)

(v) Interest and Finance Charges 7.56 5.77

(vi) Depreciation 3.32 2.16

(vii) Profit/(Loss) before Tax (11.77) (14.29)

(viii) Less: Provision for Taxes

- Current Tax (MAT)

- Income Tax Provision for earlier years

(ix) Profit/(Loss) after Tax (11.77) (14.29)

(ix) Balance brought forward from Previous Year (24.36) (10.07)

(x) Amount available for Appropriation

Balance carried to Balance Sheet (36.13) (24.36)

6. Directors' Responsibility Statement

d) they have prepared the annual accounts on a going concern basis.

8. Corporate Social Responsibility (CSR)

11. Auditors and Secretarial Auditors Report

13. Directors and Key Managerial Personnel

14. Auditors' Report

For and on behalf of the Board of Directors

S.K. Todi M. K. Rathi

Kolkata, 29th May, 2015

ANNEXURE-I TO THE DIRECTORS' REPORT

A. EXTRACT OF ANNUAL RETURN

B. NUMBER OF MEETINGS OF THE BOARD

C. INDEPENDENT DIRECTORS' DECLARATION

D. POLICY OF DIRECTORS' APPOINTMENT AND REMMUNERATION

E. CODE OF CONDUCT FOR DIRECTORS AND SENIOR MANAGEMENT

F. RELATIONSHIP BETWEEN DIRECTOR INTER-SE

49(VIII)(E)(2) of the revised Listing Agreement.

G. PARTICULARS OF LOANS, GUARANTEES AND INVESTMENT

H. TRANSACTION WITH RELATED PARTIES

L. PECUNIARY RELATIONSHIP OR TRANSACTION OF NON-EXECUTIVE DIRECTORS

Non ï¿½ Executive Directors Ratio to Median Remuneration

Mr. S. K. Todi NIL

Mr. K. K. Rungta NIL

Mr. S. Agarwal NIL

Mr. M. K. Rathi 4.41

Name of Person % increase in remuneration

Mr. S. K. Todi NIL

Mr. K. K. Rungta NIL

Mr. S. Agarwal NIL

Mr. M. K. Rathi 37%

Mrs. C. Mohta NIL

Remuneration of KMP during F.Y. 2014-15 (aggregated) 9.95

Revenue from operations 14988.38