2015 16 PDF

BHASKAR SHRACHI ALLOYS LTD
Standalone Financial Statements for period 01/04/2015 to 31/03/2016
[400100] Disclosure of general information about company

Unless otherwise specified, all monetary values are in INR
01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
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 06/06/2016
Period covered by financial statements 2015-2016 2014-2015
Date of start of reporting period 01/04/2015 01/04/2014
Date of end of reporting period 31/03/2016 31/03/2015
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
Whether company is maintaining books of account and other
No
relevant books and papers in electronic form
Whether books of account and other books and papers are maintained
No
on cloud
Disclosure of principal product or services [Table] ..(1)

Types of principal product or services [Axis] SilicoManganeseFerroAlloys
01/04/2015
to
31/03/2016
Disclosure of general information about company [Abstract]
Disclosure of principal product or services [Abstract]
Disclosure of principal product or services [LineItems]
Product or service category (ITC 4 digit) code 7202
Description of product or service category SilicoManganeseFerroAlloys
Turnover of product or service category 60,10,03,541
Highest turnover contributing product or service (ITC 8 digit) code 72021100
FERO-MANGANESE,CARBON
Description of product or service CONTNG>2% BY WEIGHT
Unit of measurement of highest contributing product or service kgs
Turnover of highest contributing product or service 60,10,03,541
Quantity of highest contributing product or service in UoM 0
BHASKAR SHRACHI ALLOYS LTD Standalone Financial Statements for period 01/04/2015 to 31/03/2016
[400400] Disclosures - Directors report
Details of contracts/arrangements/transactions not at arm's length basis [Table] ..(1)

Contracts/arrangements/transactions not at arm's length basis [Axis] NA
01/04/2015
to
31/03/2016
Details of contracts/arrangements/transactions not at arm's length basis [Abstract]
Details of contracts/arrangements/transactions not at arm's length basis [LineItems]
Name of related party na
Nature of related party relationship Associate company
Description of nature of contracts/arrangements/transactions with related party na
Duration of contracts/arrangements/transactions with related party na
Dates of approval of contracts/arrangements/transactions with related party by board 31/03/2016
Amount paid as advances if any for contracts/arrangements/transactions with related party 0
Dates on which special resolution passed in general meeting for
contracts/arrangements/transactions with related party required by section 188 of 31/03/2016
companies act, 2013
Details of change in promoters’ shareholding [Table] ..(1)

Promoters [Axis] NA
Shareholding at
Change in shareholding [Axis] beginning of year
[Member]
01/04/2015
to
31/03/2016
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%
2
Details of directors signing board report [Table] ..(1)

Directors signing board report [Axis] M1 M2
01/04/2015 01/04/2015
to to
31/03/2016 31/03/2016
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 06/06/2016 06/06/2016
Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(1)

Material contracts/arrangements/transactions at arm's length basis [Axis] NA
01/04/2015
to
31/03/2016
Details of material contracts/arrangements/transactions at arm's length basis [Abstract]
Details of material contracts/arrangements/transactions at arm's length basis [LineItems]
Description of nature of material contracts/arrangements/transactions with related party na
Duration of material contracts/arrangements/transactions with related party na
Dates of approval of material contracts/arrangements/transactions with related party by board 31/03/2016
Amount paid as advances if any for material contracts/arrangements/transactions with related party 0
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]
01/04/2015 01/04/2015 01/04/2015
to to to
31/03/2016 31/03/2016 31/03/2016
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%
3
Particulars of holding, subsidiary and associate companies [Table] ..(1)

Particulars of companies [Axis] NA
01/04/2015
to
31/03/2016
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
4

01/04/2015
to
31/03/2016
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]
Rs./Lakhs
Earnings :
Details regarding foreign exchange earnings and outgo 1794.49 Outgo :
4.34
Disclosures in director’s responsibility statement [See below]
Details of material changes and commitment occurred during period
No Remarks
affecting financial position of company
There have been

no loans, Guarantees and
investments under
Particulars of loans guarantee investment under section 186 [TextBlock] section 186 of the
Companies Act, 2013
during the financial year
2015-16.
Particulars of contracts/arrangements with related parties under section Textual information (6)
188(1) [TextBlock] [See below]
Whether there are contracts/arrangements/transactions not at arm's
No
length basis
Whether there are material contracts/arrangements/transactions at
No
arm's length basis
Disclosure of extract of annual return as provided under section 92(3) Textual information (7)
[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 (8)
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 (10)
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 (13)
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 (14)
5
Details of deposits which are not in compliance with requirements Textual information (15)
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]
Details regarding adequacy of internal financial controls with Textual information (16)
reference to financial statements [TextBlock] [See below]
Disclosure of appointment and remuneration of managerial personnels Textual information (17)
Disclosure of voting rights not exercised directly by employees [TextBlock]
Whether votes were cast in favour of resolution Yes
Number of meetings of board 4
6
Disclosure in board of directors report explanatory [Text Block]

BHASKAR SHRACHI ALLOYS LIMITED
(CIN: L51109WB1995PLC071126)
Registered Office: 8/1 Middleton Row, Kolkata- 700 071
Website: www.bhaskargroup.com, E-mail: cs@bhaskargroup.com
Tel : (91-33)2229-7190/0114/8877, Fax: 91-33-2229-7223
DIRECTOR'S REPORT
Dear Shareholders,
Your Directors hereby present their 21st Annual Report of the Company together with the Audited Statements of Accounts for the year ended
March 31, 2016.
1. HIGHLIGHTS OF FINANCIAL RESULTS
The Company's financial performance for the year ended, 31st March, 2016 is summarized below:
(` in Crores)
PARTICULARS 2015-16 2014-15
Gross Sales 64.64 143.79
Net Sales 60.10 137.51
Income from Operations and Other Income 34.01 12.66
7
Profit before Finance Cost and Depreciation (25.24) (0.89)
Finance Cost 6.65 7.56
Profit before Depreciation (31.89) (8.45)
Depreciation 2.42 3.32
Profit before tax (34.31) (11.77)
Profit after tax (34.31) (11.77)
Transfer to General Reserve - -
Interim Dividend - -
Proposed Final Dividend - -
2. PERFORMANCE REVIEW
During the year under review your Company has achieved a net turnover of Rs. 94.11 crore, as against Rs. 150.16 crore in the previous year. The
Company has incurred a loss of Rs. 34.31 crore as against Rs. 11.77 crore in the previous year
3. DIVIDEND
Due to non -availability of distributable profit, the directors do not recommend any dividend for the period under review.
4. RESERVES
There is no such amount which the Board posses to carry to any reserves.
5. CHANGE IN SHARE CAPITAL
During the year review, the company has increased the Authorized Share Capital from from INR 15,00,00,000/- (Fifteen Crores only) divided into
15,000,000 (One crore Fifty Lakhs) equity shares of INR 10/- each, to INR 25,00,00,000/- (Twenty five crores only) divided into 25,000,000
(Two Crores Fifty lakhs) equity shares of INR 10/- each and 8,000,000 Nos. Equity Shares of Rs. 10 /- each had been allotted by Private
8
Placement.
6. CAPITAL EXPENDITURE
During the year under review, the company has invested an amount of Rs. 102.43 lacs in fixed assets as against Rs. 43.24 lacs in the previous
year.
7. SUBSIDIARIES / JOINT VENTURES AND ASSOCIATE COMPANY
The company does not have any subsidiaries / Joint Ventures within the meaning of the Companies Act, 2013.
8. INTERNAL CONTROL SYSTEM
The Company has adequate internal control systems and procedures designed to effectively control the operations at its Head Office and Plants.
The internal control systems are designed to ensure that the financial and other records are reliable for the preparation of financial statements and
for maintaining assets. The Company has well designed Standard Operating Procedures. Independent Internal Auditors conduct audit covering a
wide range of operational matters and ensure compliance with specified standards. Planned periodic reviews are carried out by Internal Audit. The
findings of Internal Audit are reviewed by the top management and by the Audit Committee of the Board of Directors.
Based on the deliberations with Statutory Auditors to ascertain their views on the financial statements including the Financial Reporting System
and Compliance to Accounting Policies and Procedures, the Audit Committee was satisfied with the adequacy and effectiveness of the Internal
Controls and Systems followed by the company.
9. INTERNAL FINANCIAL CONTORLS
The Company has in place adequate Internal Financial Controls with reference to financial statements. During the year, such controls were tested
and no reportable material weakness in the design or operation was observed.
10. DIRECTORS AND KEY MANAGERIAL PERSONNEL
As on date, the Board consists of Three Directors. The composition of Board of Directors is in conformity with the compliance of Companies Act,
2013 and SEBI (Listing Obligation and Disclosures Regulations)2015.
9
Appointment of Independent Directors is in conformity with section 149 of the Companies Act, 2013 and SEBI (Listing Obligation and
Disclosures Regulations) 2015.
The Board Mr. Kulveer Hurkat (DIN: 07053912) and Mr. Bharat Goenka (DIN: 00414688) was appointed as Additional Directors (Independent)
for a period of 5 years, from 13th June, 2016 to 12th June, 2021 and Mr. Asit Mondal (DIN: 07563593) as Additional Director(Non Executive) of
the Company subject to the approval of the shareholders in the forthcoming General Meeting.
Mr. Sanjeev Agarwal (DIN: 00080755), Padam Chand Dugar (DIN: 02349924), Independent Directors has resigned from the Board of Directors
of the Company w.e.f 13th June, 2016.
Mr. Mukesh Kumar Rathi (DIN: 06683723) who was working as Director and CFO has also resigned from his Directorship in the Company and
he will continue to work as Chief Financial Officer.
In accordance with the provisions of Companies Act, 2013 Mr. Shrawan Kumar Todi (DIN: 00080303 ) Director will retire by rotation at the
ensuing AGM and being eligible offered himself for re-appointment. The Board recommends his re-appointment.
Pursuant to the provisions of Section 203 of the Companies Act, 2013 the Board has appointed Mr. Ashwani Ladha as Company Secretary (Key
Managerial Personnel) and Compliance Officer with effect from 12th February, 2016 and Ms. Chandani Mohta the erstwhile (Key Managerial
Personnel) and Compliance Officer have resigned from the Board with effect from 11th February, 2016.
The information on the particulars of Director eligible for appointment in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure
Requirement) Regulations, 2015 has been provided in the notes to the notice convening the Annual General Meeting.
11. INDEPENDENT DIRECTORS DECLARATION
The Independent Directors have confirmed and declared that they are not disqualified to act as an Independent Director in compliance with the
provisions of Section 149 of the Companies Act, 2013 and the Board is also of the opinion that the Independent Directors fulfill all the conditions
specified in the Companies Act, 2013 making them eligible to act as Independent Directors.
12. BOARD MEETINGS
10
The details of number and dates of meetings held by the Board and its Committees, attendance of Directors and sitting fee/ commission/
remuneration paid to them is given separately in the attached Corporate Governance Report.
13. EVALUATION OF THE BOARD'S PERFORMANCE
In compliance with the Companies Act, 2013 and Regulation 17(10) of SEBI (Listing Obligations and Disclosure Requirements), Regulations,
2015, the performance evaluation of the Board was carried out during the year under review. More details on the same are given in the Corporate
Governance Report.
14. REMUNERATION POLICY
The company follows a policy on remuneration of Directors and Senior Management Employees. The policy is approved by the Nomination and
Remuneration Committee and the Board. More details on the same are given in the Corporate Governance Report.
15. BOARD COMMITTEES
The details of term of reference of the Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee
member, dates of meeting held and attendance of the Directors are given separately in the Corporate Governance Report.
16. VIGIL MECHANISM POLICY / WHISTLE BLOWER POLICY
In order to ensure that the activities of the Company and its employees are conducted in a fair and transparent manner by adoption of highest
standards of professionalism, honesty, integrity and ethical behavior, the company has adopted a vigil mechanism / Whistle Blower policy in
compliance with the requirements of law. The policy on this has been uploaded on the website of the Company.
17. CODE OF CONDUCT
11
Directors, Key Managerial Personnel and senior management of the Company have confirmed compliance with the Code of Conduct applicable
to the Directors and employees of the Company and the declaration in this regard made by the CFO and Director is attached as Annexure 'I'
which forms a part of this Report of the Directors. The Code of Conduct is available on the Company's website.
18. FIXED DEPOSIT
Your company has not accepted any fixed deposit and, accordingly no amount was outstanding as at the Balance Sheet date.
19. CORPORATE SOCIAL RESPONSIBILITY
The Company does not meet any of the criteria as specified under section 135 of the Act and hence no compliance is required in this regards.
20. RELATED PARTY TRANSACTIONS
The company has entered into contract / arrangements with the related parties in the ordinary course of business and on arms length basis. Thus
provision of Section 188 (1) of the Companies Act and rules made there under is not applicable.
21. RELATIONSHIP BETWEEN DIRECTORS INTER SE
None of the directors are related within the meaning of the term "relative" as per section 2(77) of the Companies Act, 2013 and Listing Obligation
and Disclosure Requirements, Regulations 2015.
22. 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.
12
23. PARTICULARS OF LOANS, GURANTEES AND INVESTMENTS
There have been no loans, Guarantees and investments under section 186 of the Companies Act, 2013 during the financial year 2015-16.
24. 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.
25. PARTICULRAS OF EMPLOYEES
The information required under section 197 of the Act and rules made thereunder, in respect of employees of the company, is provided in
Annexure -I forming part of this Report.
26. 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 -
II in the prescribed form MGT -9 and forms part of this Report.
27. STATUTORY AUDITORS
M/s K.N.GUTGUTIA, Chartered Accountants, Statutory Auditors of the Company holds office upto the conclusion of the 21st Annual General
Meeting, your company seeks approval for the appointment of Statutory Auditors at the ensuing Annual General Meeting. There is no a
qualification or reservation or remarks made by the auditors.
28. SECRETARIAL AUDIT
13
A Secretarial Audit was conducted during the year by the Secretarial Auditor Mr. Rahul Jaiswal, Practicing Company Secretaries. The Secretarial
Auditors Report is attached as Annexure 'III'. There are no qualifications or remarks made by the Secretarial Auditor in their Report.
29. COST AUDITORS
The Board of Directors has on the recommendation of Audit Committee, approved the appointment of Mr. Shib Shankar Ghosh, Practicing Cost
Accountants, as the Cost Auditors of the company for the year 2016-2017 at a remuneration of Rs. 35,000/- plus out of pocket expenses. The
proposed remuneration of the Cost Auditors would be approved by the members in the ensuing AGM.
30. AUDITOR'S 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.
31. CORPORATE GOVERNANCE REPORT, MANAGEMENT DISCUSSION and ANALYSIS AND OTHER INFORMATION
REQUIRED UNDER THE COMPANIES ACT, 2013 AND LISTING AGREEMENT
As per Schedule V of the 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.
32. HUMAN RESOURCE MANAGEMENT, HEALTH AND SAFETY
During the year the Company had cordial relations with workers, staff and officers. The shop floor management is done through personal touch,
using various motivational tools and meeting their training needs requirements. The company has taken initiative for safety of employees and
implemented regular safety audit, imparted machine safety training, wearing protective equipments etc.
14
33. DISCLOSURE AS PER THE SEXUAL HARRASMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION
AND REDRESSAL) ACT, 2013
The company has a policy on prohibition, prevention and redressal of Sexual Harassment of women at workplace and matters connected there
with or incidental there to covering all the aspects as contained under "The Sexual Harassment of women at workplace (Prohibition, Prevention
and Redressal) Act, 2013".
During the financial year 2015-16, no complaint was received under the policy.
34. DIRECTOR'S 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 2015-16, 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
15
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.
35. 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 below:
A. 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.
16
FORM A 2015-2016
a) Power and Fuel Consumption:
1) Electricity :
i) Purchased :
Units (KWH in Lacs) 905.57
Total Amount (Rs. in Lacs ) 4708.66
Rate/Unit (Rs.) 5.20
ii) Own Generation :
*Through Diesel Generator (Unit) -
Units generated per Litre of Diesel Oil -
Cost/ Unit (Rs.)
Consumption per unit of production:

b)
2015- 2016
Ferro Alloys SGCI Inserts. Steel Billets
MT Pcs. MT
Production (MT) 20348 4125191 171
Electricity per MT of production - Unit 3969.95 1.53 1463.27
Coal per MT of production - Kg. - - -
17
* Generator was not used for production.
B. 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.
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.
C. 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.
D. FOREIGN EXCHANGE EARNINGS AND OUTGO
18
Rs./Lakhs
Earnings : 1794.49
Outgo : 4.34
36. CAUTIONARY STATEMENT
Statements in this report, describing the Company's objectives, expectations and/or anticipations may be forward looking within the meaning of
applicable Securities Law and Regulations. Actual results may differ materially from those stated in the statement. Important factors that could
influence the Company's operations include global and domestic supply and demand conditions affecting selling prices of finished goods,
availability of inputs and their prices, changes in the Government policies, regulations, tax laws, economic developments within the country and
outside and other factors such as litigation and industrial relations.
The Company assumes no responsibility in respect of the forward-looking statements, which may undergo changes in future on the basis of
subsequent developments, information or events.
37. APPRECIATIONS
Your Directors wish to place on record their appreciation for the continuous support received from the Members, customers, suppliers, bankers,
various statutory bodies of the Government of India and the Company's employees at all levels.
For and on behalf of the Board of Directors
Kolkata: 12th Day of August, 2016. S. K Todi Asit Mondal
DIN: 00080303 DIN: 07563593
Director Director
19
ANNEXURE: I
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 - Executive Directors Ratio to Median Remuneration
Mr. S. K. Todi NIL
Mr. P. C. Dugar NIL
Mr. S. Agarwal NIL
Executive Director
Mr. M. K. Rathi 4.93
(b) The percentage increase in remuneration of each Director, Chief Financial Officer, Company Secretary or Manager, if any, in the financial
year;
20
Name of Person % increase in remuneration
Mr. S. K. Todi NIL
Mr. P. C. Dugar NIL
Mr. S. Agarwal NIL
Mr. M. K. Rathi 15%
Mrs. C. Mohta NIL
(c) The percentage increase in the median remuneration of employees in the financial year; 5%
(d) The number of permanent employees on the rolls of company; 187 NOS
(e) The explanation on the relationship between average increase in remuneration and company performance;
On an average employee received an increase of 2.00%. 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. 2015-16 (aggregated) 11.22
Revenue from operations 9206.55
Remuneration (as % of revenue) 0.12%
21
Profit before tax (PBT) (3431.36)
Remuneration (as % of PBT) 0.33%
(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, 2016 As at 31st March, 2015 Variation
Profit before tax (PBT) `/lac (3431.36) (1176.91) 191.56%
Earnings per Share (EPS) ` (16.74) (9.42) 77.71%
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 2015-16 was 0.57% Percentage increase in the managerial
remuneration for the year was -2.47%
(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 0.90
Mr. J. Koteswar Rao 0.73
22
Mr. A. Garodia 0.62
(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 endeavors to attract, retain, develop and motivate a high performance staff. The company affirms
remuneration is as per the remuneration policy of the company.
Description of state of companies affair

Operating Results: The gross sales and net sales for the year stood at Rs. 64.64 crores and Rs. 60.10 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. 34.31 crores
for the year in comparison to net loss of Rs. 11.77 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.
23
Details regarding technology absorption

The particulars as prescribed under Rule 8(3) of the Companies (Accounts) Rules, 2014, are set out below: A. 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. FORM A 2015-2016 a) Power & Fuel Consumption: 1) Electricity: i) Purchased : Units (KWH in Lacs) 905.57 Total Amount (Rs. in Lacs
) 4708.66 Rate/Unit (Rs.) 5.20 ii) Own Generation : *Through Diesel Generator (Unit) - Units generated per Litre of Diesel Oil - Cost/ Unit (Rs.)
b) Consumption per unit of production: 2015- 2016 Ferro Alloys SGCI Inserts. Steel Billets MT Pcs. MT Production (MT) 20348 4125191 171
Electricity per MT of production - Unit 3969.95 1.53 1463.27 Coal per MT of production - Kg. - - - * Generator was not used for production. B.
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. C. 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. D. FOREIGN EXCHANGE EARNINGS AND OUTGO Rs./Lakhs Earnings : 1794.49 Outgo : 4.34
Disclosures in director’s 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 2015-16, 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 contracts/arrangements with related parties under section 188(1) [Text Block]
The company has entered into contract / arrangements with the related parties in the ordinary course of business and on arms length basis. Thus
provision of Section 188 (1) of the Companies Act and rules made there under is not applicable.
24
Disclosure of extract of annual return as provided under section 92(3) [Text Block]
FORM NO. MGT-9
EXTRACT OF ANNUAL RETURN as on the financial year ended on 31st March, 2016 of BHASKAR SHRACHI ALLOYS LIMITED
[Pursuant to Section 92(1) 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 LIMITED
Category/ Sub Category of the Company Company Limited by Shares / Indian Non- Government Company
8/1 Middleton Row,
Address of the Registered Office and Kolkata - 700 071;
Contact Details Telephone: (033) 22298877
E-mail - cs@bhaskargroup.com
Whether Listed Company YES
Maheswari Datamatics Pvt. Ltd.
6, Mangoe Lane,
Name, Address and Contact details of Registrar and Transfer Agent, if any
Kolkata - 700 001
PH: (033) 22435029/5809
II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY
All the business activities contributing 10 % or more of the total turnover of the company
shall be stated:-
25
Sl. No. Name and Description of main products / services NIC Code of the Product/ service % to total turnover of the company
1 Silico Manganese (Ferro Alloys) 7202 69.57%
2 SGCI Inserts 3371 29.97%
3 Steel Billet 3309 0.46%
III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES -
The Company has no holding, subsidiary or associate company.
IV. SHARE HOLDING PATTERN
(Equity Share Capital Breakup as percentage of Total Equity)
i) Category-wise Shareholding
Number of Total shareholding Shares

Total
Cate-gory Number of shares held in as a percentage of pledged or
Category of Shareholder number of
code share-holders dematerialized total number of otherwise
shares
form shares encumbered
26
As a As a per-centage of Number of As a
per-centage (A+B+C) shares percentage
of (A+B)
(IX)=(VIII)/(IV)
(I) (II) (III) (IV) (V) (VI) (VII) (VIII)
* 100
Shareholding of
(A) Promoter and Promoter
Group
(1) Indian
Individuals/Hindu
(a) 76 3,497,400 - 17.06 17.06 1,893,300 54.10
Undivided Family
Central
(b) Government/State - - - - - - -
Government(s)
(c) Bodies Corporate 30 4,241,200 1500000 20.68 20.68 8,06,700 19.02
Financial
(d) - - - - - - -
Institutions/Banks
(e) Any Other (specify) - - - - - - -
Sub-Total (A)(1) 106 7,738,600 1500000 37.74 37.74 27,00,000 34.89
(2) Foreign
Individuals
(Non-Resident
(a) Individuals/ - - - - - - -
Foreign Individuals)
(b) Bodies Corporate - - - - - - -
(c) Institutions - - - - - - -
Qualified Foreign
(d) - - - - - - -
Investor
(e) Any Other (specify) - - - - - - -
Sub-Total (A)(2) - - - - - - -
Total Shareholding of
27
Promoter and Promoter 106 7,738,600 1500000 37.74 37.74 27,00,000 34.89
Group (A)
=(A)(1)+(A)(2)
(B) Public Shareholding
(1) Institutions NA NA
(a) Mutual Funds/UTI - - - - - - -
(b) Financial Institutions/Banks - - - - - - -
(c) Central Government/State Government(s) - - - - - - -
(d) Venture Capital Funds - - - - - - -
(e) Insurance Companies - - - - - - -
(f) Foreign Institutional Investors - - - - - - -
(g) Foreign Venture Capital Investors - - - - - - -
(h) Qualified Foreign Investors - - - - - - -
(i) Any Other (specify) - - - - - - -
Sub-Total (B)(1) - - - - - - -
(2) Non-institutions - - - - - - -
(a) Bodies Corporate 70 9,133,300 50,000 44.55 44.55 - -
(b) Individuals -
i. Individual shareholders holding nominal share capital upto Rs. 2 lakh. 1124 1,398,000 5,809 6.81 6.81 - -
ii .Individual shareholders holding nominal share capital in excess of Rs. 2 lakh. 12 1,980,100 - 9.65 9.65 - -
(c) Qualified Foreign Investor - - - - - - -
(d) Any Other (specify) 1 250,000 - 1.21 1.21 - -
Sub Total (B)(2)
28
Total Public Shareholding (B) = (B)(1)+(B)(2) 1207 12,761,400 - 62.25 62.25 - -
TOTAL (A)+(B)
(C) Shares held by Custodians and against which Depository Receipts have been issued - - - - - - -
(1) Promoter and Promoter Group - - - - - - -
(2) Public - - - - - - -
GRAND TOTAL
1313 20,500,000 55,809 100 100 2,700,000 13.17
(A) + (B) + (C)
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 Kumar Todi 731600 3.5688 6,08,100 83.11 2.97 - -
2. Ravi Todi, 615000 3.0000 6,15,000 100.000 3.00
3. Rahul Todi 450000 2.1951 4,50,000 100.000 2.19
4. Sujata Todi 250000 1.2195 - - -
29
5. Vaibhav Vinimay Pvt Ltd 250000 1.2195 - - -
6. Manish Rungta, 110100 0.5371 60,000 54.49 0.29
7. Ashish Rungta, 110000 0.5366 60,000 54.50 0.29
8. Chitra Lekha Todi, 106400 0.5190 - - -
9. Krishna Kumar Rungta, 61600 0.3005 60,100 97.5649 0.29
10. Sabina Rungta 60000 0.2927 - - -
11. Bhagwan Ram Sita Seva Nidhi 50000 0.2439 - - -
12. Garima Rungta 40000 0.1951 40,000 100.00 0.19
13. Chitra Family Trust 38100 0.1859 - - -
14. Shankar Kumar Somani, 32500 0.1585 - - -
15. Shri Balaji Nidhi, 30000 0.1463 - - -
16. Girija Kumar Choudhury, 20000 0.0976 - - -
17. Vinita Sharma, 20000 0.0976 - - -
18. Chitra Family Trust 15000 0.0732 - - -
19. Padam Chand Dugar, 15000 0.0732 - - -
20. Mamata Sharma, 15000 0.0732 - - -
21. Atul Kumar Gupta, 15000 0.0732
22. Bishnu Chand Yadav, 15000 0.0732 - - -
23. Mahesh Gupta, 15000 0.0732 - - -
24. Kishori Devi Mandiwal, 12500 0.0610 - - -
25. Manish Kumar Agarwal, 12500 0.0610 - - -
26. Smt.Sudha Devi Sultania, 11500 0.0561 - - -
30
27. Pradip Kumar Patodia, 10100 0.0493 - - -
28. Anila Devi Sultania, 10000 0.0488 - - -
29. Pawan Kumar Rungta, 10000 0.0488 - - -
30. Praveen Kumar Bhalotia, 10000 0.0488 - - -
31. Rina Pramanick, 10000 0.0488 - - -
32. Sunita Agarwal, 10000 0.0488 - - -
33. Deonath Prasad Gupta, 10000 0.0488 - - -
34. Susanta Pramanick, 10000 0.0488 - - -
35. Prayagraj Sharma, 10000 0.0488 - - -
36. Ganga Devi Sharma, 10000 0.0488 - - -
37. Bimala Debi Verma, 10000 0.0488 - - -
38. Mahendrapal Verma, 10000 0.0488 - - -
39. Geeta Devi Verma, 10000 0.0488 - - -
40. Satya Narayan Verma, 10000 0.0488 - - -
41. Gopal Kumar Gupta, 10000 0.0488 - - -
42. Kamaleshwar Prasad Singh, 10000 0.0488 - - -
43. Deonath Prasad Gupta, 10000 0.0488 - - -
44. Ajoy Kumar Patodia, 10000 0.0488 - - -
45. Manju Devi Agarwal, 10000 0.0488 - - -
46. Pawan Kumar Jaju, 10000 0.0488 - - -
47. Praveen Kumar Bhalotia, 10000 0.0488 - - -
31
48. Sujit Kumar Gupta, 10000 0.0488 - - -
49. Anup Kumar Khaitan, 10000 0.0488 - - -
50. Lokenath Patodia (HUF), 10000 0.0488 - - -
51. Ratan Kumar Sharma, 10000 0.0488 - - -
52. Mahesh Kumar Gupta, 10000 0.0488 - - -
53. Krishna Kumar Patodia, 10000 0.0488 - - -
54. Bijay Kumar Thakur, 10000 0.0488 - - -
55. Mrs.Kavita Sharma, 7500 0.0366 - - -
56. Atul Kumar Gupta, 7500 0.0366 - - -
57. Kanta Devi Seksaria, 7500 0.0366 - - -
58. Manju Patodia, 6500 0.0317 - - -
59. Dayanand Agarwal, 5000 0.0244 - - -
60. Usha Patodia, 5000 0.0244 - - -
61. Gopal Kumar Bajaj, 5000 0.0244 - - -
62. Ajoy Kumar Rungta, 5000 0.0244 - - -
63. Om Prakash Srivastava (HUF), 5000 0.0244 - - -
64. Meenu Jain, 5000 0.0244 - - -
65. Nand Kishore Shaw, 5000 0.0244 - - -
66. Keshar Chand Jain, 5000 0.0244 - - -
67. Subhash Roy, 5000 0.0244 - - -
68. Satish Goel, 5000 0.0244 - - -
69. Chotulal Singh, 5000 0.0244 - - -
32
70. Samir Pramanick, 5000 0.0244 - - -
71. Sanjay Kumar Chenani, 5000 0.0244 - - -
72. Savitri Devi Chenani, 5000 0.0244 - - -
73. Lokenath Patodia, 5000 0.0244 - - -
74. Sunil Kumar Patodia, 5000 0.0244 - - -
75. Bimal Kumar Seksaria, 5000 0.0244 - - -
76. Padam Chand Dugar, 1500 0.0073 - - -
77. Tulsyan and Sons Pvt Limited 1500000 7.3171 - - -
Bengal General Trading

78. 733200 3.5766 7,33,200 100.00 3.57
Co.Pvt.Ltd.,
Lodhasons Consultancy Services

79. 205000 1.0000 - - -
(P) Limited,
80. Frankross Vinimay Pvt Ltd., 180000 0.8780 - - -
81. Dilip Agencies Pvt.Ltd., 175000 0.8537 - - -
82. Bajrangbali Foundry P.Ltd., 132500 0.6463
83. Sulabh Resources (P) Ltd., 125000 0.6098 - - -
84. Ulike Developers (P) Ltd., 110000 0.5366 - - -
85. GNB Credit Pvt.Limited, 103500 0.5049 - - -
86. Tanisha Business Pvt.Ltd., 100000 0.4878 - - -
87. Priya Purnima Credit P.Ltd., 100000 0.4878 - - -
88. Carbide Asia (Private) Limited, 75000 0.3659 - - -
Kalpataru Housing and Trading

89. 70000 0.3415 - - -
(Pvt.) Limited,
90. Bothra Suitings (P) Limited, 60000 0.2927 - - -
33
91. Aarkey Tie Up Pvt.Limited, 58500 0.2854 - - -
92. Ravi Todi Family Trust, 55000 0.2683 - - -
93. Classic Share Dealers Ltd., 50000 0.2439 - - -
94. P.S.B.Investments P. Ltd. 50000 0.2439
KSK Share and Stock Brokers

95. 50000 0.2439
(Pvt.) Limited,
96. K.D.Jag Holdings (P) Ltd., 50000 0.2439 - - -
97. Navi Plast Suppliers, 50000 0.2439 - - -
98. Neha Bearing Co.Pvt.Ltd., 50000 0.2439 - - -
99. Essel Plowood (Private) Ltd., 30000 0.1463 - - -
100. Apeotex Ply (P) Limited, 30000 0.1463 - - -
101. Seksariah Enclaves P.Ltd., 26000 0.1268 - - -
102. Everlest Fincon (Private) Ltd., 25000 0.1220 - - -
103. GMB Finvest Pvt.Limited, 25000 0.1220 - - -
104. Satyam Trade Centre Pvt.Ltd., 12500 0.0610 - - -
105. Suave Business Pvt.Ltd., 5000 0.0244 - - -
106. Bagrun Trade Centre P.Ltd., 5000 0.0244 - - -
Total : 77,38,600 37.75
34
(iii) Change in Promoters' Shareholding (please specify, if there is no change):-
Shareholding at the Cumulative Shareholding

Sl. No
beginning of the year during the year
No. of No. of
% of total shares of the company % of total shares of the company
shares shares
At the beginning of the year 92,47,100 73.97 - -
Date wise Increase /Decrease in
Promoters Share
Holding during the
Year specifying 1508500 12.06 - -
the reasons for increase / decrease
(e.g. ALLOTMENT /transfer / bonus/
sweat equity etc):
At the End of the year. 77,38,600 37.75 - -
ï¿½ Changes occurred due to further allotment and transfer of shares during the year.
35
Shareholding at the Cumulative Shareholding

Sl. No
beginning of the year during the year
No. of No. of
For Each of the Top 10 Shareholders % of total shares of the company % of total shares of the company
shares shares
At the beginning of the year
Date wise Increase /Decrease in
Promoters Share
Holding during the
Year specifying
the reasons for increase / decrease
(e.g. allotment / NIL
transfer / bonus/
sweat equity etc):
At the End of the year.
(iv) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs):
36
(v) Shareholding of Directors and Key Managerial Personnel:
Shareholding at
Cumulative
the
Sl. Shareholding
No
beginning of
during the year
the year
No.
For Each of the No. of
% of total shares of the of % of total shares of the
company company
Directors and KMP shares
shares
Shrawan Kumar Todi

1. 638,100 5.10 - -
At the beginning of the year
Date wise Increase /Decrease in Promoters Share Holding during

the Year specifying
- -
the reasons for increase / decrease (e.g. allotment /
transfer / bonus/ sweat equity etc):
At the End of the year. 731,600 3.56 - -
* Changes occurred due to transfer of shares during the year.
V. INDEBTEDNESS
Indebtedness of the Company including interest outstanding/accrued but not due for
payment.
` in lacs
Secured Loans excluding deposits Unsecured Loans Deposits Total Indebtedness
Indebtedness at the
beginning of the financial
year
i) Principal Amount 1756.99

3398.15
ii) Interest due but not paid 209.00 1641.16
209.00
iii) Interest accrued but not due
Total (i+ii+iii) 1965.99 1641.16 NIL 3607.15
37
Change in Indebtedness
during the financial year
? Addition 216.26
216.26
? Reduction 692.78 692.78
Net Change 216.26 692.78 NIL (476.52)
Indebtedness at the
end of the financial year
i) Principal Amount 1756.99

2705.37
ii) Interest due but not paid 425.26 948.38
425.26
iii) Interest accrued but not due
Total (i+ii+iii) 2182.25 948.38 NIL 3130.63
VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL
A. Remuneration to Managing Director, Whole-time Directors and/or Manager:
` in lacs
Sl.No. Particulars of Remuneration MD/ WTD/MANAGER Total Amount (`)
Gross salary
(a) Salary as per provisions

1.
contained in section 17(1) of the Income-tax Act,1961. NIL NIL
(b) Value of perquisites u/s 17(2) Income-tax Acts, 1961.
38
(c) Profits in lieu of salary under section 17(3) Income tax Act, 1961.
2. Stock Option NIL NIL
3. Sweat Equity NIL NIL
Commission
4. - as % of profit NIL NIL
- others, specifyï¿½
5. Others, please specify NIL NIL
Total (A) NIL NIL
Ceiling as per the Act NIL NIL
B. Remuneration to other directors:
Total Amount
Sl.No Particulars of Remuneration Name of Directors
(`)
Mr. B Mr. M K Mr. S.

Mr. P K Dugar Mr. S K Todi Mr. K Hurkat Mr. A Mondal Total Amount
Goenka Rathi Agarwal
2. Non - Executive Directors
a) Fee for attending
- Board Meeting.
b) Commission
NA NA NA NA NA NA NA NA
c) others
Total (2) NA NA NA NA NA NA NA NA
Total (B)=(1+2) NA NA NA NA NA NA NA NA
Total Managerial
NA NA NA NA NA NA NA NA
Remuneration
Overall Ceiling as per the Act NA NA NA NA NA NA NA NA
39
ï¿½ Mr. Kulveer Hurkat, Mr. Bharat Goenka and Mr. Asit Mondal appointed on the Board on 13.06.2016 and 12.08.2016 respectively.
C. REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/MANAGER/WTD
Mr. Ashwani Mrs. Chandani Mr. Mukesh Total

Sl.No. Particulars of Remuneration
Ladha Mohta Rathi Amount
CS CS CFO
Gross salary
(a) Salary as per provisions

1.
contained in section 17(1) of the Income-tax Act, 1961.
0.67 3.47 7.08 11.22
(b) Value of perquisites u/s 17(2) Income-tax Acts, 1961.
(c) Profits in lieu of salary under section 17(3) Income tax Act,
1961.
2. Stock Option - - - -
3. Sweat Equity - - - -
Commission
4. - as % of profit - - - -
- others, specifyï¿½
5. Others, please specify - - - -
40
Total 0.67 3.47 7.08 11.22
VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:
Appeal made if
Details of Penalty/ any,
Punishment/ Authority
Section of the Companies Brief (give details)
Type
Act Description Compounding [ RD / NCLT/
COURT]
fees imposed
A. Company
Penalty
Punishment NIL
Compounding
B. Directors
Penalty
Punishment NIL
Compounding
C. Other Officers in
Default
Penalty
Punishment NIL
41
Compounding
42
Disclosure of statement on declaration given by independent directors under section 149(6) [Text Block]
43
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.
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.
44
Disclosure of financial summary or highlights [Text Block]

The Company's financial performance for the year ended, 31st March, 2016 is summarized below:
(` in Crores)
PARTICULARS 2015-16 2014-15
Gross Sales 64.64 143.79
Net Sales 60.10 137.51
Income from Operations and Other Income 34.01 12.66
Profit before Finance Cost and Depreciation (25.24) (0.89)
Finance Cost 6.65 7.56
Profit before Depreciation (31.89) (8.45)
Depreciation 2.42 3.32
Profit before tax (34.31) (11.77)
Profit after tax (34.31) (11.77)
Transfer to General Reserve - -
Interim Dividend - -
Proposed Final Dividend - -
45
Details of directors or key managerial personnels who were appointed or have resigned during year [Text Block]
46
Details relating to deposits covered under chapter v of companies act [Text Block]
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.
Details of deposits which are not in compliance with requirements of chapter v of act [Text Block]
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.
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.
47
Disclosure of appointment and remuneration of managerial personnels [Text Block]

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.
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
financial year;
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%
48
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
49
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.
[400200] Disclosures - Auditors report
Details regarding auditors [Table] ..(1)

Auditors [Axis] M1
01/04/2015
to
31/03/2016
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 062091
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 06/06/2016
Date of signing of balance sheet by auditors 06/06/2016
50
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]
01/04/2015 01/04/2015
to to
31/03/2016 31/03/2016
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 (18) [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 (19) [See below]
Textual information
Disclosure in auditors report relating to inventories (20) [See below]
Textual information
Disclosure in auditors report relating to loans (21) [See below]
Disclosure in auditors report relating to compliance with Section 185 and 186 of
GIVEN BELOW
Companies Act, 2013
Textual information
Disclosure in auditors report relating to deposits accepted (22) [See below]
Textual information
Disclosure in auditors report relating to maintenance of cost records (23) [See below]
Textual information
Disclosure in auditors report relating to statutory dues [TextBlock] (24) [See below]
Disclosure relating to regularity in payment of undisputed statutory dues Textual information
[TextBlock] (25) [See below]
Textual information
Disclosure relating to disputed statutory dues [TextBlock] (26) [See below]
Textual information
Disclosure in auditors report relating to default in repayment of financial dues (27) [See below]
Disclosure in auditors report relating to public offer and term loans used for Textual information
purpose for which those were raised (28) [See below]
Disclosure in auditors report relating to fraud by the company or on the Textual information
company by its officers or its employees reported during period (29) [See below]
Textual information
Disclosure in auditors report relating to managerial remuneration (30) [See below]
In our opinion
company is not a
nidhi company.
Therefore, the
Disclosure in auditors report relating to Nidhi Company provisions of clause
(xii) of paragraph 3
of the Order are not
applicable to the
Company.
Textual information
Disclosure in auditors report relating to transactions with related parties (31) [See below]
Disclosure in auditors report relating to preferential allotment or private Textual information
placement of shares or convertible debentures (32) [See below]
Disclosure in auditors report relating to non-cash transactions with directors Textual information
or persons connected with him (33) [See below]
To the best of our
knowledge and as
explained, the
Company is not
Disclosure in auditors report relating to registration under section 45-IA of
required to be
Reserve Bank of India Act, 1934 registered under
Section 45-IA of the
Reserve Bank of
India Act, 1934.
51

01/04/2015
to
31/03/2016
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
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.
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 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.
52
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]

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.
Disclosure relating to disputed statutory dues [Text Block]

According to the information and explanations given to us and records produced and examined by us the Company is regular in depositing
undisputed statutory dues including provident fund, employees state insurance, income tax, sales tax, service tax, custom duty, excise duty, cess
and other material statutory dues applicable to it with appropriate authorities.
b. According to the information and explanation given to us, there are no dues of income tax, custom duty, excise duty and cess which have
not been deposited on account of any dispute.
viii) 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.
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.
Disclosure in auditors report relating to public offer and term loans used for purpose for which those were raised
The company has not raised money by way of initial public offer or further public offer (including debt instruments) or term loan and hence
clause (ix) of paragraph 3 of the Order is not applicable to the Company.
53
Disclosure in auditors report relating to fraud by the company or on the company by its officers or its employees
reported during period
Based on the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and as per information and
explanations given to us, no fraud by the Company or on the Company by its officers or employees has been noticed or reported during the year.
Disclosure in auditors report relating to managerial remuneration

In our opinion and according to the information and explanations given to us, managerial remuneration has been paid or provided in accordance
with the requisite approvals mandated by the provisions of the section 197 read with Schedule V of the Act.
Disclosure in auditors report relating to transactions with related parties

In our opinion and according to the information and explanations given to us, the Company has not entered into any transaction with related
parties that require approval under section 177 and section 188 of the Act and the rules made thereunder. Hence, clause (xiii) of paragraph 3 of the
Order is not applicable to the Company.
Disclosure in auditors report relating to preferential allotment or private placement of shares or convertible
debentures
In our opinion and according to the information and explanations given to us, the Company has made preferential allotment of shares during the
year amounting to Rs. 8.00 Cores and the requirement of the section 42 of the Companies Act, 2013 have been complied with and the amount
raised have been used for the purposes for which the funds were raised.
Disclosure in auditors report relating to non-cash transactions with directors or persons connected with him
In our opinion and according to the information and explanations given to us, the Company has not entered into any non-cash transaction with the
Directors or Persons connected with them and covered under section 192 of the Act. Hence clause (xv) of paragraph 3 of the Order is not
applicable to the Company.
54
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, 2016, 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 ("the Act") 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
55
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. 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-RECOGNITION OF DEFERRED TAX ASSETS (NET OF DEFERRED TAX
LIABILITY) AMOUNTING TO Rs. 14.63 LACS. HAD THE RECOGNITION BEEN MADE THE LOSS FOR THE YEAR WOULD HAVE
DECREASED BY Rs. 14.63 LACS AND THE BALANCE IN PROFIT and LOSS STATEMENT WOULD HAVE INCREASED AND
DEFERRED TAX ASSETS WOULD HAVE INCREASED BY THE SAME AMOUNT.
QualifiedOpinion
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,
2016;
(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.
56
Emphasis of Matter
Attention is drawn to Point No. 15 of Notes on Accounts 2.24 regarding physical verification of inventories lying at its manufacturing unit or
elsewhere and certain quantities of work in progress items have been found to be of waste quality.
The financial impact of the above has already been accounted for during the financial year 2015-16 and any other impact of the same, if any shall
be determined and will be provided for as and when it is required.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order, 2016 ("the order") issued by the Central Government of India in terms of
Subsection (11) of section 143 of the Act, We give in the "ANNEXURE- A" a statement on the matter specified in paragraph 3 and 4 in the order.
2. 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, 2016, and taken on record by the Board of
57
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 adequacy of the Internal Financial Controls over financial reporting of the company and the operating
effectiveness of such controls, refer to our separate Report in "ANNEXURE- B".
g) 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 - 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 were no amounts which were required to be transferred, to the Investor Education and Protection Fund by the company.
For K.N. GUTGUTIA and CO.
Chartered Accountants
Firm Registration No. 304153E
CA. AMIT GHOSH
Partner
6C, Middleton Street, Membership No. 62091
Kolkata - 700071
58
Annexure - A To THE INDEPENDENT Auditor's Report
to the members of BHASKAR SHRACHI ALLOYS LIMITED, referred to in paragraph 1 of our report on other Legal and Regulatory
Requirements of even date.
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.
c. The Title Deed of immovable properties are held in the name of the Company.
ii) The inventory has been physically verified by the management during the year. In our opinion, the frequency of verification is
reasonable. The discrepancies noticed on such verification between physical stocks and book records were not material except as disclosed in note
no. 15 of the financial statement.
59
iii) The Company has not granted any loan during the year, Secured or Unsecured to the companies, firms, limited liability
partnerships or other parties covered the register maintained u/s 189 of the Companies Act 2013 and accordingly clause (iii) (a) to clause (iii) (c)
of the order is not applicable to the Company.
iv) According to the information and explanations given to us, no loan has been given to any director of the company or to any other
person as specified under section 185 of the Companies Act, 2013. The company has neither given any loan or guarantee and has provided
security to any person or body corporate nor has made any investment during the year under audit as specified under section 186 of the
Companies Act, 2013.
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.
Therefore, the provisions of clause (v) of paragraph 3 of the order are not applicable to the Company.
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.
vii) In respect of statutory dues:
a. According to the information and explanations given to us and records produced and examined by us the Company is regular in depositing
undisputed statutory dues including provident fund, employees state insurance, income tax, sales tax, service tax, custom duty, excise duty, cess
and other material statutory dues applicable to it with appropriate authorities.
b. According to the information and explanation given to us, there are no dues of income tax, custom duty, excise duty and cess which have
not been deposited on account of any dispute.
viii) 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.
ix) The company has not raised money by way of initial public offer or further public offer (including debt instruments) or term loan
and hence clause (ix) of paragraph 3 of the Order is not applicable to the Company.
x) Based on the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and as per
information and explanations given to us, no fraud by the Company or on the Company by its officers or employees has been noticed or reported
during the year.
xi) In our opinion and according to the information and explanations given to us, managerial remuneration has been paid or provided
in accordance with the requisite approvals mandated by the provisions of the section 197 read with Schedule V of the Act.
xii) In our opinion company is not a nidhi company. Therefore, the provisions of clause (xii) of paragraph 3 of the Order are not
applicable to the Company.
xiii) In our opinion and according to the information and explanations given to us, the Company has not entered into any transaction
with related parties that require approval under section 177 and section 188 of the Act and the rules made thereunder. Hence, clause (xiii) of
paragraph 3 of the Order is not applicable to the Company.
xiv) In our opinion and according to the information and explanations given to us, the Company has made preferential allotment of
shares during the year amounting to Rs. 8.00 Cores and the requirement of the section 42 of the Companies Act, 2013 have been complied with
and the amount raised have been used for the purposes for which the funds were raised.
xv) In our opinion and according to the information and explanations given to us, the Company has not entered into any non-cash
transaction with the Directors or Persons connected with them and covered under section 192 of the Act. Hence clause (xv) of paragraph 3 of the
Order is not applicable to the Company.
xvi) To the best of our knowledge and as explained, the Company is not required to be registered under Section 45-IA of the Reserve
Bank of India Act, 1934.
60
For K.N. GUTGUTIA and CO.
Chartered Accountants
Firm Registration No. 304153E
6C, Middleton Street, CA. AMIT GHOSH
Kolkata - 700071 Partner
Membership No. 62091
61
"ANNEXURE B"
ANNEXURE TO THE INDEPENDENT AUDITOR'S REPORT OF EVEN DATE ON THE FINANCIAL STATEMENTS OF BHASKAR
SHRACHI ALLOYS LTD.
Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 ("the Act")
We have audited the Internal Financial Controls over financial reporting of BHASKAR SHRACHI ALLOYS LIMITED ("the Company") as of
March 31, 2016 in conjunction with our audit of the financial statements of the Company for the year ended on that date.
Management's Responsibility for Internal Financial Controls
The Company's management is responsible for establishing and maintaining internal financial controls based on the internal control over financial
reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of
Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India. These responsibilities include the
design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and
efficient conduct of its business, including adherence to company's policies, the safeguarding of its assets, the prevention and detection of frauds
and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required
under the Companies Act, 2013.
Auditors' Responsibility
62
Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit. We conducted
our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the "Guidance Note") and the
Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to
an audit of internal financial controls, both applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered
Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to
obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if
such controls operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial
reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of
internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and
operating effectiveness of internal control based on the assessed risk. 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.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company's
internal financial controls system over financial reporting.
Meaning of Internal Financial Controls over Financial Reporting
A company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.
A company's internal financial control over financial reporting includes those policies and procedures that
1. Pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets
of the company;
2. Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with
generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with
authorizations of management and directors of the company; and
3. Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's
63
assets that could have a material effect on the financial statements.
Inherent Limitations of Internal Financial Controls over Financial Reporting
Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper
management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation
of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial
reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may
deteriorate.
Opinion
In our opinion, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal
financial controls over financial reporting were operating effectively as at March 31, 2016, based on the internal control over financial reporting
criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal
Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.
Kolkata For K. N. Gutgutia and Co.
June 6, 2016 Chartered Accountants
Firm Registration Number 304153E
CA AMIT GHOSH
64
Partner
Membership No.062091
[400500] Disclosures - Secretarial audit report
Details of signatories of secretarial audit report [Table] ..(1)

Signatories of secretarial audit report [Axis] RAHULJAISWAL
01/04/2015
to
31/03/2016
Details of signatories of secretarial audit report [Abstract]
Details of signatories of secretarial audit report [LineItems]
Category of secretarial auditor Individual
Name of secretarial audit firm RAHUL JAISWAL
Name of secretarial auditor signing report RAHUL JAISWAL
Membership number of secretarial auditor 37393
Certificate of practice number of secretarial auditor 14753
6/3/28A SEAL'S
Address of secretarial auditors GARDEN
LANE,1ST FLOOR
Permanent account number of secretarial auditor or secretarial auditors firm AHGPJ7073H
Date of signing secretarial audit report 20/06/2016

01/04/2015
to
31/03/2016
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
65
Disclosure in secretarial audit report explanatory [Text Block]
SECRETARIAL AUDIT REPORT
FORM MR-3
(For the period 01-04-2015 to 31-03-2016)
[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 Board of Directors
Bhaskar Shrachi Alloys Limited
8/1 Middleton Row,
Kolkata - 700 071
I have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by
Bhaskar Shrachi Alloys Limited (hereinafter called the company). Secretarial Audit was conducted in a manner that provided a reasonable basis
for evaluating the corporate conducts/statutory compliances and expressing our opinion thereon.
Based on the verification of the 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, I hereby report
that in opinion, the company has, during the audit period ended on 31st March, 2016, complied with the statutory provisions listed hereunder and
also that the Company has proper Board-processes and compliance-mechanism in place to the extent, in the manner and subject to the reporting
made hereinafter:
1. I have examined the books, papers, minute books, forms and returns filed and other records maintained by the company for the audit
period ended on 31st,March 2016 according to the provisions of :
I. The Companies Act, 2013 (the Act) and the rules made thereunder;
II. The Securities Contracts (Regulation) Act, 1956 ('SCRA') and the rules made thereunder;
66
III. The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;
IV. Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to the extent of Foreign Direct Investment,
Overseas Direct Investment and External Commercial Borrowings : Not Applicable
V. The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 ('SEBI Act') to
the extent applicable to the company :-
a. The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;
b. The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992;
c. The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009;
d. The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies
Act and dealing with client;
e. The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009; (Not applicable as the Company has not
delisted its equity share from any stock exchange during the financial year under review)
f. The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998; (Not applicable as the Company has not any
issued any debt securities during the financial year under review)
g. The Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase scheme) Guidelines, 1999 and
( Not applicable as the Company has not granted any options to its employees during the financial year under review.)
h. The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008. (Not applicable as the Company has
not granted any options to its employees during the financial year under review.)
VI. I further report that with respect to the compliance of the below mentioned laws, we have relied on the compliance system prevailing
in the Company and on the basis of representation received from its concerned department:-
VII. I have also examined compliance with the applicable clauses of the following :-
i. Secretarial Standards issued by The Institute of Company Secretaries of India;
ii. The Listing Agreements entered into by the Company with the Stock Exchange(s) for the period from 1st April, 2015
to 30th November, 2015; and
67
iii. Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015 for the period from 1st September, 2015 to
31st March, 2016.
During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Listing Agreements
etc mentioned above.
2. I further report that :
a. 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 the composition of the Board of Directors that took place during the period under review were carried out
in compliance with the provisions of the Act. However as per section 149(1) of the Companies Act, 2013, the Company is yet to appoint a
Women Director on its Board of Directors. The Company is taking effective measures to fulfill the requirement of Companies Act, 2013 and
SEBI (Listing Obligations and Disclosures Requirement), Regulations, 2015.
b. During the year review, the company has increased the Authorized Share Capital from from INR 15,00,00,000/- (Fifteen Crores only)
divided into 15,000,000 (One crore Fifty Lakhs) equity shares of INR 10/- each, to INR 25,00,00,000/- (Twenty five crores only) divided into
25,000,000 (Two Crores Fifty lakhs) equity shares of INR 10/- each and 8,000,000 Nos. Equity Shares of Rs. 10 /- each had been allotted by
Private Placement.
c. Adequate notice is given to all directors to schedule the Board Meetings, agenda and detailed notes on agenda were sent at least seven days
in advance, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for
meaningful participation at the meeting.
d. Majority decision is carried through while the dissenting members' views are captured and recorded as part of the minutes.
e. The Company has obtained all necessary approvals under the various provisions of the Act; and
f. There was no prosecution initiated and no fines or penalties were imposed during the year under review under the Act, SEBI Act, SCRA,
Depositories Act, Listing Agreement, Rules, Regulations and Guidelines framed under these Acts against/ on the Company, its Directors and
Officers.
g. The Directors have complied with the disclosure requirements in respect of their eligibility of appointment, their being independent and
compliance with the Code of Business Conduct and Ethics for Directors and Management Personnel;
h. Maintenance of website of the Company is under process and shall be available for stakeholders in the meantime.
68
3. I further report that based on the information received and records maintained there are adequate systems and processes in the Company
commensurate with the size and operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations and
guidelines.
Place: Kolkata
Date: 20th June, 2016 CS Rahul Jaiswal
Membership No. A - 37393
COP No. : 14753
This report is to be read with letter of even date which is annexed as Annexure A and forms an integral part of this report.
To, "Annexure A"
The Members of
Bhaskar Shrachi Alloys Limited
The report of even date is to be read along with this letter.
1. Maintenance of secretarial record is the responsibility of the management of the company.
69
Our responsibility is to express an opinion on these secretarial records based on our audit.
2. I have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness of the contents of
the Secretarial records. The verification was done on test basis to ensure that correct facts are reflected in secretarial records. We believe that the
processes and practices, we followed provide a reasonable basis for our opinion.
3. Where ever required, the Management representation has been about the compliance of laws, rules and regulations and happening of events
etc.
4. The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of management.
Our examination was limited to the verification of procedures on test basis.
5. The Secretarial Audit is neither an assurance as to the future viability of the company nor of the efficacy or effectiveness with which the
management has conducted the affairs of the Company.
Place: Kolkata
Date: 20th June, 2016 CS Rahul Jaiswal
Membership No. A - 37393
COP No. : 14753
70
[100100] Balance sheet

31/03/2016 31/03/2015
Balance sheet [Abstract]
Equity and liabilities [Abstract]
Shareholders' funds [Abstract]
Share capital 20,50,00,000 12,50,00,000
Reserves and surplus -70,23,39,814 -35,92,04,141
Total shareholders' funds -49,73,39,814 -23,42,04,141
Share application money pending allotment 0 0
Non-current liabilities [Abstract]
Long-term borrowings 18,93,86,733 17,65,98,858
Other long-term liabilities 0 0
Long-term provisions 0 0
Total non-current liabilities 18,93,86,733 17,65,98,858
Current liabilities [Abstract]
Short-term borrowings 52,44,33,839 55,88,09,042
Trade payables 23,42,07,428

(A) 22,14,30,724
Other current liabilities 6,06,72,068 4,77,42,660
Short-term provisions 21,15,480 21,38,647
Total current liabilities 82,14,28,815 83,01,21,073
Total equity and liabilities 51,34,75,734 77,25,15,790
Assets [Abstract]
Non-current assets [Abstract]
Fixed assets [Abstract]
Tangible assets 9,15,11,464 10,54,82,252
Intangible assets 0 0
Tangible assets capital work-in-progress 1,39,42,565 1,39,42,565
Total fixed assets 10,54,54,029 11,94,24,817
Non-current investments 0 0
Long-term loans and advances 3,65,78,087 3,24,52,080
Total non-current assets 14,20,32,116 15,18,76,897
Current assets [Abstract]
Current investments 0 0
Inventories 22,93,33,895 47,97,29,335
Trade receivables 11,18,30,152 6,53,43,958
Cash and bank balances 1,32,65,190 1,99,46,048
Short-term loans and advances 1,58,53,481 5,06,36,850
Other current assets 11,60,900 49,82,702
Total current assets 37,14,43,618 62,06,38,893
Total assets 51,34,75,734 77,25,15,790
Footnotes
(A) (a) For Goods 261,428,898 (b) For Expenses 139,011,876 (c) Against Letter of Credit 131,977,453 Total 532,418,227
71
[400300] Disclosures - Signatories of financial statements
Details of directors signing financial statements [Table] ..(1)

Directors signing financial statements [Axis] M1 M2
01/04/2015 01/04/2015
to to
31/03/2016 31/03/2016
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 06/06/2016 06/06/2016
72
[100400] Cash flow statement, indirect

01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
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 -34,31,35,673 -11,76,91,331
Adjustments for reconcile profit (loss) [Abstract]
Adjustments to profit (loss) [Abstract]
Adjustments for finance costs 6,65,08,274 7,55,74,565
Adjustments for depreciation and amortisation expense 2,42,14,202 3,32,09,294
Other adjustments to reconcile profit (loss) -24,91,057

(A) -17,72,990
Other adjustments for non-cash items -23,167 6,14,413
Total adjustments to profit (loss) 8,82,08,252 10,76,25,282
Adjustments for working capital [Abstract]
Adjustments for decrease (increase) in inventories 25,03,95,440 -3,00,45,911
Adjustments for decrease (increase) in trade receivables -4,64,86,194 3,98,43,188
Adjustments for decrease (increase) in other current assets 3,44,79,164 4,81,52,509
Adjustments for increase (decrease) in trade payables 1,27,76,704 -31,09,87,501
Adjustments for increase (decrease) in other current liabilities 1,29,29,408 -57,25,979
Total adjustments for working capital 26,40,94,522 -25,87,63,694
Total adjustments for reconcile profit (loss) 35,23,02,774 -15,11,38,412
Net cash flows from (used in) operations 91,67,101 -26,88,29,743
Net cash flows from (used in) operating activities before extraordinary
91,67,101 -26,88,29,743
items
Net cash flows from (used in) operating activities 91,67,101 -26,88,29,743
Cash flows from used in investing activities [Abstract]
Proceeds from sales of tangible assets 0 45,854
Purchase of tangible assets 1,02,43,414 43,23,763
Interest received 24,91,057 17,27,136
Other inflows (outflows) of cash 1,30,48,000

(B) 4,68,50,000
Net cash flows from (used in) investing activities before extraordinary
52,95,643 4,42,99,227
items
Net cash flows from (used in) investing activities 52,95,643 4,42,99,227
Cash flows from used in financing activities [Abstract]
Proceeds from issuing shares 8,00,00,000 0
Proceeds from borrowings 1,27,87,875 30,38,95,738
Repayments of borrowings 3,43,75,203 0
Interest paid 6,65,08,274 7,55,74,565
Other inflows (outflows) of cash 0 0
Net cash flows from (used in) financing activities before extraordinary
-80,95,602 22,83,21,173
items
Net cash flows from (used in) financing activities -80,95,602 22,83,21,173
Net increase (decrease) in cash and cash equivalents before effect of
63,67,142 37,90,657
exchange rate changes
Net increase (decrease) in cash and cash equivalents 63,67,142 37,90,657
Cash and cash equivalents cash flow statement at end of period 1,13,13,190 49,46,048
Footnotes
(A) Interest Income (1,727,136) Profit on Sale of Tangible Fixed Assets (45,854) Total -1772990.00
(B) Increase in Margin Money Deposit
73
[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]
01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015
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
KRISHAY PROPERTIES TULSYAN & SONS PVT TULSYAN & SONS PVT BENGAL GENERAL
Name of shareholder PRIVATE LIMITED LTD LTD TRADING CO. PVT. LTD.
CIN of shareholder U70102WB2013PTC194852 U51109WB1988PTC044161 U51109WB1988PTC044161 U51909WB1946PTC013987
Country of incorporation or
residence of INDIA INDIA INDIA INDIA
shareholder
Number of shares held in company [shares] 80,00,000 [shares] 15,00,000 [shares] 15,00,000 [shares] 7,33,200
Percentage of shareholding in
39.00% 12.00% 7.00% 5.8656%
company
Disclosure of shareholding more than five per cent in company [Table] ..(2)
Equity shares 1
Classes of share capital [Axis]
[Member]
Shareholder 3
Name of shareholder [Axis]
[Member]
01/04/2014
to
31/03/2015
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
Shrawan Kumar
Name of shareholder Todi
PAN of shareholder ABWPT5354P
Country of incorporation or residence of shareholder INDIA
Number of shares held in company [shares] 7,63,700
Percentage of shareholding in company 6.1096%
74
Disclosure of classes of share capital [Table] ..(1)

Classes of share capital [Axis] Share capital [Member] Equity shares [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015
Disclosure of classes of share capital [Abstract]
Disclosure of classes of share capital [LineItems]
Number of shares authorised [shares] 2,50,00,000 [shares] 1,50,00,000 [shares] 2,50,00,000 [shares] 1,50,00,000
Value of shares authorised 25,00,00,000 15,00,00,000 25,00,00,000 15,00,00,000
Number of shares issued [shares] 2,05,00,000 [shares] 1,25,00,000 [shares] 2,05,00,000 [shares] 1,25,00,000
Value of shares issued 20,50,00,000 12,50,00,000 20,50,00,000 12,50,00,000
Number of shares subscribed and fully paid [shares] 2,05,00,000 [shares] 1,25,00,000 [shares] 2,05,00,000 [shares] 1,25,00,000
Value of shares subscribed and fully paid 20,50,00,000 12,50,00,000 20,50,00,000 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] 2,05,00,000 [shares] 1,25,00,000 [shares] 2,05,00,000 [shares] 1,25,00,000
Total value of shares subscribed 20,50,00,000 12,50,00,000 20,50,00,000 12,50,00,000
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 2,05,00,000 [shares] 1,25,00,000 [shares] 2,05,00,000 [shares] 1,25,00,000
Value of shares called 20,50,00,000 12,50,00,000 20,50,00,000 12,50,00,000
Calls unpaid [Abstract]
Calls unpaid by directors and officers
[Abstract]
Calls unpaid by directors 0 0 0 0
Calls unpaid by officers 0 0 0 0
Total calls unpaid by directors and
0 0 0 0
officers
Calls unpaid by others 0 0 0 0
Total calls unpaid 0 0 0 0
Forfeited shares 0 0 0 0
Forfeited shares reissued 0 0 0 0
Value of shares paid-up 20,50,00,000 12,50,00,000 20,50,00,000 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 shares issued in public offering [shares] 80,00,000 [shares] 0 [shares] 80,00,000 [shares] 0
Total aggregate number of shares issued
[shares] 80,00,000 [shares] 0 [shares] 80,00,000 [shares] 0
during period
Decrease in number of shares during period
[Abstract]
Other decrease in number of shares [shares] 0 [shares] 0 [shares] 0 [shares] 0
Total decrease in number of shares during
[shares] 0 [shares] 0 [shares] 0 [shares] 0
period
Total increase (decrease) in number of
[shares] 80,00,000 [shares] 0 [shares] 80,00,000 [shares] 0
shares outstanding
Number of shares outstanding at end of period [shares] 2,05,00,000 [shares] 1,25,00,000 [shares] 2,05,00,000 [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 public issue during period 8,00,00,000 0 8,00,00,000 0
Total aggregate amount of increase in
8,00,00,000 0 8,00,00,000 0
share capital during period
Decrease in share capital during period
[Abstract]
Other decrease in amount of shares 0 0 0 0
Total decrease in share capital during
0 0 0 0
period
Total increase (decrease) in share capital 8,00,00,000 0 8,00,00,000 0
Share capital at end of period 20,50,00,000 12,50,00,000 20,50,00,000 12,50,00,000
75
Shares in company held by holding company or

ultimate holding company or by its subsidiaries
or associates [Abstract]
Shares in company held by holding company [shares] 0 [shares] 0 [shares] 0 [shares] 0
Total shares in company held by holding company
or ultimate holding company or by its [shares] 0 [shares] 0 [shares] 0 [shares] 0
subsidiaries or associates
Original paid-up value of forfeited shares 0 0 0 0
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
Number of shares proposed to be issued [shares] 0 [shares] 0 [shares] 0 [shares] 0
Share premium for shares to be allotted 0 0 0 0
76
Disclosure of classes of share capital [Table] ..(2)

Classes of share capital [Axis] Equity shares 1 [Member]
01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
Disclosure of classes of share capital [Abstract]
Disclosure of classes of share capital [LineItems]
Type of share Equity Equity
Number of shares authorised [shares] 2,50,00,000 [shares] 1,50,00,000
Value of shares authorised 25,00,00,000 15,00,00,000
Number of shares issued [shares] 2,05,00,000 [shares] 1,25,00,000
Value of shares issued 20,50,00,000 12,50,00,000
Number of shares subscribed and fully paid [shares] 2,05,00,000 [shares] 1,25,00,000
Value of shares subscribed and fully paid 20,50,00,000 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] 2,05,00,000 [shares] 1,25,00,000
Total value of shares subscribed 20,50,00,000 12,50,00,000
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 2,05,00,000 [shares] 1,25,00,000
Value of shares called 20,50,00,000 12,50,00,000
Calls unpaid [Abstract]
Calls unpaid by directors and officers [Abstract]
Calls unpaid by directors 0 0
Calls unpaid by officers 0 0
Total calls unpaid by directors and officers 0 0
Calls unpaid by others 0 0
Total calls unpaid 0 0
Forfeited shares 0 0
Forfeited shares reissued 0 0
Value of shares paid-up 20,50,00,000 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 shares issued in public offering [shares] 80,00,000 [shares] 0
Total aggregate number of shares issued during period [shares] 80,00,000 [shares] 0
Decrease in number of shares during period [Abstract]
Other decrease in number of shares [shares] 0 [shares] 0
Total decrease in number of shares during period [shares] 0 [shares] 0
Total increase (decrease) in number of shares outstanding [shares] 80,00,000 [shares] 0
Number of shares outstanding at end of period [shares] 2,05,00,000 [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 public issue during period 8,00,00,000 0
Total aggregate amount of increase in share capital during period 8,00,00,000 0
Decrease in share capital during period [Abstract]
Other decrease in amount of shares 0 0
Total decrease in share capital during period 0 0
Total increase (decrease) in share capital 8,00,00,000 0
Share capital at end of period 20,50,00,000 12,50,00,000
Shares in company held by holding company or ultimate holding company or by its
subsidiaries or associates [Abstract]
Shares in company held by holding company [shares] 0 [shares] 0
Total shares in company held by holding company or ultimate holding company
[shares] 0 [shares] 0
or by its subsidiaries or associates
Original paid-up value of forfeited shares 0 0
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]
77
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
Number of shares proposed to be issued [shares] 0 [shares] 0
Share premium for shares to be allotted 0 0

01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
Textual information (36) Textual information (37)
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
Number of persons on private placement of preference share 0 0
Number of shareholders of company 1,313 0
Number of allottees in case of preferential allotment 0 0
Whether reduction in capital done during year No No
Whether money raised from public offering during year Yes No
Amount raised from public offering during year 8,00,00,000 0
Amount utilised towards specified purposes for public offering 0 0
Amount remaining unutilised received in respect of public offering 0 0
Disclosure of notes on share capital explanatory [Text Block]

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.
78
[200200] Notes - Reserves and surplus
Statement of changes in reserves [Table] ..(1)

Components of reserves [Axis] Reserves [Member] Capital reserves [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015
Statement of changes in reserves [Abstract]
Statement of changes in reserves [LineItems]
Changes in reserves [Abstract]
Additions to reserves [Abstract]
Profit (loss) for period -34,31,35,673 -11,76,91,331 0 0
Total additions to reserves -34,31,35,673 -11,76,91,331 0 0
Total changes in reserves -34,31,35,673 -11,76,91,331 0 0
Reserves at end of period -70,23,39,814 -35,92,04,141 21,00,000 21,00,000
Statement of changes in reserves [Table] ..(2)

Components of reserves [Axis] Surplus [Member]
01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
Statement of changes in reserves [Abstract]
Statement of changes in reserves [LineItems]
Changes in reserves [Abstract]
Additions to reserves [Abstract]
Profit (loss) for period -34,31,35,673 -11,76,91,331
Total additions to reserves -34,31,35,673 -11,76,91,331
Total changes in reserves -34,31,35,673 -11,76,91,331
Reserves at end of period -70,44,39,814 -36,13,04,141

01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
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.
79
[200300] Notes - Borrowings
Classification of borrowings [Table] ..(1)

Classification based on time period [Axis] Long-term [Member]
Rupee term loans
Term loans
Classification of borrowings [Axis] Term loans from banks [Member] from banks
[Member]
[Member]
Secured Secured
Subclassification of borrowings [Axis] borrowings Secured borrowings [Member] borrowings
[Member] [Member]
31/03/2015 31/03/2016 31/03/2015 31/03/2016
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [LineItems]
Borrowings 17,65,98,858 18,93,86,733 17,65,98,858 18,93,86,733

Long-term
Classification based on time period [Axis] Short-term [Member]
[Member]
Rupee term loans
Term loans
Classification of borrowings [Axis] from banks Term loans from banks [Member]
[Member]
[Member]
Secured Secured
Subclassification of borrowings [Axis] borrowings borrowings Secured borrowings [Member]
[Member] [Member]
31/03/2015 31/03/2015 31/03/2016 31/03/2015
Borrowings 17,65,98,858 39,46,93,108 42,95,96,127 39,46,93,108

Classification of borrowings [Axis] Rupee term loans from banks [Member] Intercorporate borrowings [Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Unsecured borrowings [Member]
31/03/2016 31/03/2015 31/03/2016 31/03/2015
Borrowings 42,95,96,127 (A) 39,46,93,108 9,48,37,712 4,21,15,934
Footnotes
(A) Cash Credit

Loans and advances from related parties Loans and advances from others
Classification of borrowings [Axis]
[Member] [Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member] Unsecured borrowings [Member]
31/03/2016 31/03/2015 31/03/2016 31/03/2015
Borrowings 0 12,20,00,000 0 12,20,00,000
80

01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
Disclosure of notes on borrowings explanatory [TextBlock] [See below] [See below]
81
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)
82
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.
83
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)
84
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
Sub classes of tangible assets [Axis] Assets held under lease [Member]
[Member] [Member]
01/04/2015 01/04/2015 01/04/2015
01/04/2014 01/04/2014 01/04/2014
to to to
to to to
31/03/2015 31/03/2015 31/03/2015
31/03/2016 31/03/2016 31/03/2016
Disclosure of additional information
tangible assets [Abstract]
tangible assets [LineItems]
Depreciation method tangible assets schedule II Written Down Value schedule II Written Down Value schedule II Written Down Value
Useful lives or depreciation rates As Per Companies Act As Per Companies Act As Per Companies Act
schedule II schedule II schedule II
tangible assets 2013 2013 2013

Classes of tangible assets [Axis] Buildings [Member] Other building [Member]
Sub classes of tangible assets [Axis] Owned assets [Member]
[Member] [Member]
01/04/2015 01/04/2015 01/04/2015
01/04/2014 01/04/2014 01/04/2014
to to to
to to to
31/03/2015 31/03/2015 31/03/2015
31/03/2016 31/03/2016 31/03/2016
85

Classes of tangible assets [Axis] Plant and equipment [Member] Other plant and equipment [Member]
[Member] [Member]
01/04/2015 01/04/2015 01/04/2015
01/04/2014 01/04/2014 01/04/2014
to to to
to to to
31/03/2015 31/03/2015 31/03/2015
31/03/2016 31/03/2016 31/03/2016

Classes of tangible assets [Axis] Furniture and fixtures [Member] Vehicles [Member]
[Member] [Member]
01/04/2015 01/04/2015 01/04/2015
01/04/2014 01/04/2014 01/04/2014
to to to
to to to
31/03/2015 31/03/2015 31/03/2015
31/03/2016 31/03/2016 31/03/2016

Classes of tangible assets [Axis] Motor vehicles [Member] Office equipment [Member]
[Member] [Member]
01/04/2015 01/04/2015 01/04/2015
01/04/2014 01/04/2014 01/04/2014
to to to
to to to
31/03/2015 31/03/2015 31/03/2015
31/03/2016 31/03/2016 31/03/2016

Classes of tangible assets [Axis] Office equipment [Member] Computer equipments [Member]
Owned and leased assets
Sub classes of tangible assets [Axis] Owned assets [Member] Assets held under lease [Member]
[Member]
01/04/2015 01/04/2015 01/04/2015
01/04/2014 01/04/2014 01/04/2014
to to to
to to to
31/03/2015 31/03/2015 31/03/2015
31/03/2016 31/03/2016 31/03/2016
86

Classes of tangible assets [Axis] Other tangible assets [Member] Other tangible assets, others [Member]
Owned assets Owned assets
Sub classes of tangible assets [Axis] Owned and leased assets [Member] Owned and leased assets [Member]
[Member] [Member]
01/04/2015 01/04/2015
01/04/2014 01/04/2014 01/04/2014 01/04/2015
to to to to
to to
31/03/2015 31/03/2015 31/03/2015 31/03/2016
31/03/2016 31/03/2016
Written Down
Depreciation method tangible assets schedule II Written Down Value
Value
schedule II Written Down Value schedule II
As Per
Useful lives or depreciation rates As Per Companies Act As Per Companies Act
schedule II Companies Act schedule II schedule II
tangible assets 2013 2013
2013

Other tangible
Classes of tangible assets [Axis] assets, others
[Member]
Owned assets
Sub classes of tangible assets [Axis]
[Member]
01/04/2014
to
31/03/2015
Disclosure of additional information tangible assets [Abstract]
Disclosure of additional information tangible assets [LineItems]
Depreciation method tangible assets Written Down Value
As Per Companies
Useful lives or depreciation rates tangible assets Act 2013
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]
01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
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 1,02,43,414 43,23,763 1,02,43,414 43,23,763
assets
Depreciation tangible assets -2,42,14,202 -3,32,09,294 2,42,14,202 3,32,09,294
Disposals tangible assets
[Abstract]
Disposals tangible assets,
0 0 0 5,08,716 0 5,08,716
others
Total disposals tangible
0 0 0 5,08,716 0 5,08,716
assets
Total changes in tangible
-1,39,70,788 -2,88,85,531 1,02,43,414 38,15,047 2,42,14,202 3,27,00,578
assets
Tangible assets at end of period 9,15,11,464 10,54,82,252 49,83,53,542 48,81,10,128 40,68,42,078 38,26,27,876
87

01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
[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 45,49,543 46,41,976 57,86,479 57,86,479 12,36,936 11,44,503

01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
[LineItems]
[Abstract]
assets
-92,433 -92,433 0 0 92,433 92,433
assets
88

Classes of tangible assets [Axis] Buildings [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
[LineItems]
[Abstract]
business combinations tangible 6,91,647 0 6,91,647 0
assets
Depreciation tangible assets -23,15,067 -24,51,293 23,15,067 24,51,293
-16,23,420 -24,51,293 6,91,647 0 23,15,067 24,51,293
assets

Classes of tangible assets [Axis] Other building [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
[LineItems]
[Abstract]
assets
-16,23,420 -24,51,293 6,91,647 0 23,15,067 24,51,293
assets
89

Classes of tangible assets [Axis] Other building [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
[LineItems]
[Abstract]
assets
-16,23,420 -24,51,293 6,91,647 0 23,15,067 24,51,293
assets

Classes of tangible assets [Axis] Plant and equipment [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
[LineItems]
[Abstract]
business combinations tangible 14,57,350 32,68,378 14,57,350 32,68,378
assets
-1,54,77,172 -2,09,74,745 14,57,350 32,68,378 1,69,34,522 2,42,43,123
assets
90

Classes of tangible assets [Axis] Other plant and equipment [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
[LineItems]
[Abstract]
assets
-1,54,77,172 -2,09,74,745 14,57,350 32,68,378 1,69,34,522 2,42,43,123
assets

Classes of tangible assets [Axis] Other plant and equipment [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
[LineItems]
[Abstract]
assets
-1,54,77,172 -2,09,74,745 14,57,350 32,68,378 1,69,34,522 2,42,43,123
assets
91

Classes of tangible assets [Axis] Furniture and fixtures [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
[LineItems]
[Abstract]
assets
-32,861 -64,771 0 0 32,861 64,771
assets
Tangible assets at end of period 35,931 68,792 10,98,931 10,98,931 10,63,000 10,30,139

Classes of tangible assets [Axis] Furniture and fixtures [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
[LineItems]
[Abstract]
assets
-32,861 -64,771 0 0 32,861 64,771
assets
92

Classes of tangible assets [Axis] Vehicles [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
[LineItems]
[Abstract]
assets
[Abstract]
0 0 0 5,08,716 0 5,08,716
others
0 0 0 5,08,716 0 5,08,716
assets
9,58,331 -6,67,545 16,11,471 -5,08,716 6,53,140 1,58,829
assets

Classes of tangible assets [Axis] Motor vehicles [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
[LineItems]
[Abstract]
assets
[Abstract]
0 0 0 5,08,716 0 5,08,716
others
0 0 0 5,08,716 0 5,08,716
assets
9,58,331 -6,67,545 16,11,471 -5,08,716 6,53,140 1,58,829
assets
93

Classes of tangible assets [Axis] Motor vehicles [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
[LineItems]
[Abstract]
assets
[Abstract]
0 0 0 5,08,716 0 5,08,716
others
0 0 0 5,08,716 0 5,08,716
assets
9,58,331 -6,67,545 16,11,471 -5,08,716 6,53,140 1,58,829
assets

Classes of tangible assets [Axis] Office equipment [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
[LineItems]
[Abstract]
assets
Depreciation tangible assets -28,735 -1,08,046 28,735 1,08,046
-28,735 -1,08,046 0 0 28,735 1,08,046
assets
94

Classes of tangible assets [Axis] Office equipment [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
[LineItems]
[Abstract]
assets
Depreciation tangible assets -28,735 -1,08,046 28,735 1,08,046
-28,735 -1,08,046 0 0 28,735 1,08,046
assets

Classes of tangible assets [Axis] Computer equipments [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
[LineItems]
[Abstract]
assets
Depreciation tangible assets 0 -1,20,315 0 1,20,315
0 -1,20,315 0 0 0 1,20,315
assets
95

Classes of tangible assets [Axis] Computer equipments [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
[LineItems]
[Abstract]
assets
Depreciation tangible assets 0 -1,20,315 0 1,20,315
0 -1,20,315 0 0 0 1,20,315
assets

Classes of tangible assets [Axis] Other tangible assets [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015
[LineItems]
[Abstract]
assets
23,25,502 -44,06,383 64,82,946 10,55,385 41,57,444 54,61,768
assets
96

Classes of tangible assets [Axis] Other tangible assets [Member] Other tangible assets, others [Member]
Sub classes of tangible assets [Axis] Owned assets [Member] Owned and leased assets [Member]
Accumulated
Carrying Gross carrying Gross carrying
Carrying amount accumulated depreciation and gross depreciation
amount amount Carrying amount [Member] amount
carrying amount [Axis] and impairment
[Member] [Member] [Member]
[Member]
01/04/2014 01/04/2014 01/04/2014 01/04/2015 01/04/2014 01/04/2015
to to to to to to
31/03/2015 31/03/2015 31/03/2015 31/03/2016 31/03/2015 31/03/2016
[LineItems]
Electrical Electrical Electrical
Nature of other tangible assets Installation Installation Installation
[Abstract]
business combinations tangible 10,55,385 10,55,385 64,82,946 10,55,385 64,82,946
assets
Depreciation tangible assets -54,61,768 54,61,768 -41,57,444 -54,61,768
-44,06,383 10,55,385 54,61,768 23,25,502 -44,06,383 64,82,946
assets

Classes of tangible assets [Axis] Other tangible assets, others [Member]
Sub classes of tangible assets [Axis] Owned and leased assets [Member] Owned assets [Member]
Gross carrying Gross carrying
Carrying amount accumulated depreciation and gross Accumulated depreciation and
amount Carrying amount [Member] amount
carrying amount [Axis] impairment [Member]
[Member] [Member]
01/04/2014 01/04/2015 01/04/2014 01/04/2015 01/04/2014 01/04/2015
to to to to to to
31/03/2015 31/03/2016 31/03/2015 31/03/2016 31/03/2015 31/03/2016
[LineItems]
Electrical Electrical Electrical Electrical Electrical Electrical
Nature of other tangible assets Installation Installation Installation Installation Installation Installation
[Abstract]
assets
Depreciation tangible assets 41,57,444 54,61,768 -41,57,444 -54,61,768
10,55,385 41,57,444 54,61,768 23,25,502 -44,06,383 64,82,946
assets
97

Classes of tangible assets [Axis] Other tangible assets, others [Member]
Gross carrying Accumulated depreciation and
Carrying amount accumulated depreciation and gross carrying amount [Axis]
amount [Member] impairment [Member]
01/04/2014 01/04/2015 01/04/2014
to to to
31/03/2015 31/03/2016 31/03/2015
Disclosure of tangible assets [LineItems]
Electrical Electrical
Nature of other tangible assets Installation Installation
Electrical Installation
Reconciliation of changes in tangible assets [Abstract]

Changes in tangible assets [Abstract]
Additions other than through business combinations tangible
10,55,385
assets
Depreciation tangible assets 41,57,444 54,61,768
Total changes in tangible assets 10,55,385 41,57,444 54,61,768
Tangible assets at end of period 6,89,44,961 6,25,79,796 5,84,22,352
[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]
31/03/2016 31/03/2015
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
Classification of inventories [Table] ..(1)

Classification of inventories [Axis] Company total inventories [Member] Raw materials [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015
Subclassification and notes on liabilities and assets
[Abstract]
Inventories notes [Abstract]
Inventories [Abstract]
Classification of inventories [Abstract]
Details of inventories [LineItems]
Inventories 22,93,33,895 47,97,29,335 10,17,33,672 (A) 19,80,42,816
Inventories Inventories
Textual information Textual information
Mode of valuation Inventories are Inventories are valued
(40) [See below] (41) [See below]
valued as follows as follows
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
98

Classification of inventories [Axis] Work-in-progress [Member] Finished goods [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015
[Abstract]
Inventories 9,86,52,364 25,73,56,270 1,91,39,079 1,36,77,349
Textual information Textual information Textual information Textual information
Mode of valuation (42) [See below] (43) [See below] (44) [See below] (45) [See below]

Classification of inventories [Axis] Stores and spares [Member]
01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
Subclassification and notes on liabilities and assets [Abstract]
Inventories 98,08,780 1,06,52,900
Textual information Textual information
Mode of valuation (46) [See below] (47) [See below]
Subclassification of trade receivables [Table] ..(1)

Classification of assets based on security
Classification of assets based on security [Axis] Unsecured considered good [Member]
[Member]
31/03/2016 31/03/2015 31/03/2016 31/03/2015
[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 11,18,30,152 6,53,43,958 11,18,30,152 6,53,43,958
Allowance for bad and doubtful debts 0 0 0 0
Total trade receivables 11,18,30,152 6,53,43,958 11,18,30,152 6,53,43,958
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
99
Disclosure of breakup of provisions [Table] ..(1)

31/03/2016 31/03/2015
Provisions notes [Abstract]
Disclosure of breakup of provisions [Abstract]
Disclosure of breakup of provisions [LineItems]
Provisions [Abstract]
Provisions for employee benefits [Abstract]
Provision gratuity 0 0
Provision leave encashment 8,88,731 14,99,072
Provision pension 0 0
Provision employee insurance scheme 0 0
Provision other employee related liabilities 12,26,749 (A) 6,39,575
Total provisions for employee benefits 21,15,480 21,38,647
Provision for corporate tax [Abstract]
Provision for current tax 0 0
Provision for wealth tax 0 0
Provision for fringe benefit tax 0 0
Provision for other tax 0 0
Provision for corporate dividend tax 0 0
Total provision for corporate tax 0 0
Provision for proposed dividend [Abstract]
Provision for proposed equity dividend [Abstract]
Provision for proposed equity interim dividend 0 0
Provision for proposed equity final dividend 0 0
Provision for proposed equity special dividend 0 0
Total provision for proposed equity dividend 0 0
Provision for proposed preference dividend [Abstract]
Provision for proposed preference interim dividend 0 0
Provision for proposed preference final dividend 0 0
Provision for proposed preference special dividend 0 0
Total provision for proposed preference dividend 0 0
Total provision for proposed dividend 0 0
Provision for statutory liabilities 0 0
CSR expenditure provision 0 0
Provision for abandonment cost 0 0
Other provisions 0 0
Total provisions 21,15,480 21,38,647
Footnotes
(A) For Bonus
100
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]
31/03/2016 31/03/2015 31/03/2016 31/03/2015
[Abstract]
Loans and advances notes [Abstract]
Loans and advances [Abstract]
Disclosure of loans and advances [LineItems]
Loans and advances, gross 25,500 25,500 1,28,05,285 (A) 77,79,410
Allowance for bad and doubtful loans and
0 0 0 0
advances
Loans and advances 25,500 25,500 1,28,05,285 77,79,410
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
Footnotes
(A) With Govt.Authorities 7573191 With Others 206219 Total 206219
101

Loans advances given suppliers Other loans and Advance tax
Classification of loans and advances [Axis]
[Member] advances [Member] [Member]
Unsecured Unsecured
Classification of assets based on security [Axis] Unsecured considered good [Member] considered good considered good
[Member] [Member]
31/03/2016 31/03/2015 31/03/2015 31/03/2016
[Abstract]
Loans and advances, gross 93,45,761 1,69,18,556 77,28,614 1,44,01,541
0 0 0 0
advances
Loans and advances 93,45,761 1,69,18,556 77,28,614 1,44,01,541
[Abstract]
0 0 0 0
0 0 0 0
0 0 0 0
director
102

Short-term
[Member]
Advance tax Security deposits
Classification of loans and advances [Axis] Other advance taxes [Member]
[Member] [Member]
Unsecured Unsecured
Classification of assets based on security [Axis] considered good Unsecured considered good [Member] considered good
[Member] [Member]
31/03/2015 31/03/2016 31/03/2015 31/03/2016
[Abstract]
Loans and advances, gross 77,28,614 1,44,01,541 77,28,614 4,36,572
0 0 0 0
advances
Loans and advances 77,28,614 1,44,01,541 77,28,614 4,36,572
[Abstract]
0 0 0 0
0 0 0 0
0 0 0 0
director
103

Security deposits Other loans and
Classification of loans and advances [Axis] VAT receivable [Member]
[Member] advances [Member]
Unsecured Unsecured
Classification of assets based on security [Axis] considered good considered good Unsecured considered good [Member]
[Member] [Member]
31/03/2015 31/03/2015 31/03/2016 31/03/2015
[Abstract]
Loans and advances, gross 7,03,106 4,99,33,744 1,50,53,721 4,87,59,095
0 0 0 0
advances
Loans and advances 7,03,106 4,99,33,744 1,50,53,721 4,87,59,095
[Abstract]
0 0 0 0
0 0 0 0
0 0 0 0
director

Other loans and advances, others
Classification of loans and advances [Axis]
[Member]
Classification of assets based on security [Axis] Unsecured considered good [Member]
31/03/2016 31/03/2015
Loans and advances, gross 3,63,188 11,74,649
Allowance for bad and doubtful loans and advances 0 0
Loans and advances 3,63,188 11,74,649
Details of loans and advances due by directors, other officers or others
[Abstract]
Loans and advances due by directors 0 0
Loans and advances due by other officers 0 0
Total loans and advances due by directors, other officers or others 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 which any director is partner 0 0
Total loans and advances due by firms or companies in which any director
0 0
is partner or director
104

01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
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 2,88,38,000 2,00,00,000
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
Income received in advance 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
Other deposits refundable, current 0 0
Total deposits refundable current 0 0
Public deposit payable, current 0 0
Total other payables, current 0 0
Advance received from customers 94,00,264 1,04,99,534
Current liabilities portion of share application money pending
0 0
allotment
Other current liabilities, others 2,24,33,804
(A) 1,72,43,126
Total other current liabilities 6,06,72,068 4,77,42,660
Aggregate amount of trade receivables outstanding for period
9,64,51,861 6,31,36,267
exceeding six months
Fixed deposits with banks 0 0
Other deposits with banks 1,08,56,564 42,64,261
Total balance with banks 1,08,56,564 42,64,261
Cash on hand 4,56,626 6,81,787
Total cash and cash equivalents 1,13,13,190 49,46,048
Other bank balances 19,52,000

(B) 1,50,00,000
Total cash and bank balances 1,32,65,190 1,99,46,048
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 11,60,900

(C) 49,82,702
Total other current assets 11,60,900 49,82,702
Nature of other current assets other current assets other current assets
Footnotes
(A) Statutory liabilities 16,264,968 Unpaid salaries and other payroll dues 221,744 Accrued expenses 756,414 Total 17,243,126
(B) - Upto 3 months from Balance Sheet date 15,000,000 - From 3 months to 12 months from Balance Sheet date
(C) 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
105
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
106
Mode of valuation
Mode of valuation
Mode of valuation
107
[200700] Notes - Additional disclosures on balance sheet

01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
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
shareholders
Amount of per share dividend proposed to be distributed to
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
Share application money received and due for refund 0 0
Disclosure of whether all assets and liabilities are registered with
Yes Yes
company
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
108
[200800] Notes - Disclosure of accounting policies, changes in accounting policies and estimates
01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
Disclosure of accounting policies, change in accounting policies and Textual information (48) Textual information (49)
changes in estimates explanatory [TextBlock] [See below] [See below]
Disclosure of accounting policies explanatory [TextBlock] [See below] [See below]
109
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.
110
Sale of Goods
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
111
14
Ferro Division
12
Foundry Division
15
Steel Division
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.
112
(ii) Measurement at the Balance Sheet date
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.
113
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.
114
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
115
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
116
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.
117
determined.
arise.
Bonus
account.
Taxation
118
Segment Reporting
reasonable basis.
Operating Cycle
and liabilities.
119
Disclosure of accounting policies explanatory [Text Block]

Accounting Concepts
Use of Estimates
known/materialize.
Borrowing Costs
Impairment
changes in value.
Revenue Recognition
measured.
120
Sale of Goods
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
121
14
Ferro Division
12
Foundry Division
15
Steel Division
Computer 3
Vehicle
10
8
Office Equipments 5
Inventories
on estimated basis.
Work-in- Process
to make the sale.
122
determined.
arise.
Bonus
account.
Taxation
123
Segment Reporting
reasonable basis.
Operating Cycle
and liabilities.
124
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
125
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
126
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.
127
determined.
arise.
Bonus
account.
Taxation
128
Segment Reporting
reasonable basis.
Operating Cycle
and liabilities.
[201700] Notes - Government grants

01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
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
129
[201200] Notes - Employee benefits

01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
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
130
[201600] Notes - Related party
Disclosure of relationship and transactions between related parties [Table] ..(1)

Categories of related parties [Axis] M4 M5
01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015
Disclosure of relationship and transactions between
related parties [Abstract]
Disclosure of relationship and transactions between
related parties [LineItems]
Mr. Mukesh Mr. Mukesh Kumar S U R Y A ALLOY SURYA ALLOY
Name of related party Kumar Rathi Rathi INDUSTRIES LIMITED INDUSTRIES LIMITED
Country of incorporation or residence of related
INDIA INDIA INDIA INDIA
party
Permanent account number of related party AHRPR3584N AHRPR3584N
CIN of related party U27104WB1990PLC050102 U27104WB1990PLC050102
Enterprises which are Enterprises which are
owned, or have significant owned, or have significant
Key Management Key Management
Description of nature of related party relationship Personnel Personnel
influence of or are partners influence of or are partners
with Key management with Key management
personnel and their relatives personnel and their relatives
Description of nature of transactions with related GENERAL GENERAL
GENERAL BUSINESS GENERAL BUSINESS
party BUSINESS BUSINESS
Transaction relating to key management personnel
[Abstract]
Remuneration for key managerial personnel 7,08,000 5,76,000
Remuneration for key managerial personnel,
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
Disclosure of relationship and transactions between related parties [Table] ..(2)

Categories of related parties [Axis] M6
01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
Disclosure of relationship and transactions between related parties [Abstract]
Disclosure of relationship and transactions between related parties [LineItems]
TIRUMALA BALAJI TIRUMALA BALAJI
Name of related party ALLOYS PRIVATE ALLOYS PRIVATE
LIMITED LIMITED
Country of incorporation or residence of related party INDIA INDIA
CIN of related party U27101WB2004PTC195282 U27101WB2004PTC195282
Enterprises which are Enterprises which are
owned, or have significant owned, or have significant
Description of nature of related party relationship influence of or are partners influence of or are partners
with Key management with Key management
personnel and their relatives personnel and their relatives
Description of nature of transactions with related party GENERAL BUSINESS GENERAL BUSINESS
Amount written off during period in respect of debts due from related parties 0 0
Amount written back during period in respect of debts due to related parties 0 0

01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
Disclosure of notes on related party explanatory [TextBlock]
Whether there are any related party transactions during year Yes Yes
Whether company is subsidiary company No No
131
[201400] Notes - Leases

01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
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

01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
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

01/04/2015
to
31/03/2016
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
[202400] Notes - Investments in associates

01/04/2015
to
31/03/2016
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
132
[202500] Notes - Financial reporting of interests in joint ventures

01/04/2015
to
31/03/2016
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

31/03/2016 31/03/2015
Disclosure of cash flow statement explanatory [TextBlock]
Cash and cash equivalents if different from balance sheet [Abstract]
Cash and cash equivalents cash flow statement 1,13,13,190 49,46,048
Total cash and cash equivalents 1,13,13,190 49,46,048
133
[100200] Statement of profit and loss

01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
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 64,63,97,675 143,78,70,385
Revenue from sale of services 0 0
Other operating revenues 31,96,51,714 12,37,74,702
Excise duty 4,53,94,134 6,28,07,069
Total revenue from operations other than finance company 92,06,55,255 149,88,38,018
Total revenue from operations 92,06,55,255 149,88,38,018
Other income 2,04,53,158 27,85,555
Total revenue 94,11,08,413 150,16,23,573
Expenses [Abstract]
Cost of materials consumed 36,09,27,920 64,57,38,199
Purchases of stock-in-trade 2,42,36,496 23,99,41,973
Changes in inventories of finished goods, work-in-progress and
15,42,16,110 68,54,676
stock-in-trade
Employee benefit expense 4,59,28,883 4,94,51,174
Finance costs 6,65,08,274 7,55,74,565
Depreciation, depletion and amortisation expense [Abstract]
Depreciation expense 2,42,14,202 3,32,09,294
Total depreciation, depletion and amortisation expense 2,42,14,202 3,32,09,294
CSR expenditure 0 0
Other expenses 60,82,12,201 56,85,45,023
Total expenses 128,42,44,086 161,93,14,904
Total profit before prior period items, exceptional items, extraordinary
-34,31,35,673 -11,76,91,331
items and tax
Total profit before extraordinary items and tax -34,31,35,673 -11,76,91,331
Total profit before tax -34,31,35,673 -11,76,91,331
Tax expense [Abstract]
Current tax 0 0
Total tax expense 0 0
Total profit (loss) for period from continuing operations -34,31,35,673 -11,76,91,331
Total profit (loss) for period before minority interest -34,31,35,673 -11,76,91,331
Total profit (loss) for period -34,31,35,673 -11,76,91,331
Earnings per equity share [Abstract]
Basic earning per equity share [shares] -16.74 [shares] -9.42
Diluted earnings per equity share [shares] -16.74 [shares] -9.42
Nominal value of per equity share [shares] 10 [shares] 10
134
[300500] Notes - Subclassification and notes on income and expenses

01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
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 64,63,97,675
(A) 143,78,70,385
Total revenue from sale of products 64,63,97,675 143,78,70,385
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 31,96,51,714
(B) 12,37,74,702
Total other operating revenues 31,96,51,714 12,37,74,702
Disclosure of other income [Abstract]
Interest income [Abstract]
Interest income on current investments [Abstract]
Interest on other current investments 0 0
Total interest income on current investments 0 0
Interest income on long-term investments [Abstract]
Interest on fixed deposits, long-term investments 15,85,938 7,95,653
Interest on long-term intercorporate deposits 0 0
Interest on other long-term investments 9,05,119 9,31,483
Total interest income on long-term investments 24,91,057 17,27,136
Total interest income 24,91,057 17,27,136
Dividend income [Abstract]
Dividend income current investments [Abstract]
Dividend income current investments from subsidiaries 0 0
Total dividend income current investments 0 0
Dividend income long-term investments [Abstract]
Dividend income long-term investments from others 0 0
Total dividend income long-term investments 0 0
Total dividend income 0 0
Net gain/loss on sale of investments [Abstract]
Net gain/loss on sale of long-term investments 0 0
Total net gain/loss on sale of investments 0 0
Rental income on investment property [Abstract]
Rental income on investment property, long-term 0 0
Total rental income on investment property 0 0
Other non-operating income [Abstract]
Net gain/loss on foreign currency fluctuations treated as other
51,30,016 0
income
Miscellaneous other non-operating income 1,28,32,085
(C) 10,58,419
Total other non-operating income 1,79,62,101 10,58,419
Total other income 2,04,53,158 27,85,555
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 6,65,08,274

(D) 7,55,74,565
Total finance costs 6,65,08,274 7,55,74,565
Employee benefit expense [Abstract]
135
Salaries and wages 3,51,66,791 3,79,83,334

Managerial remuneration [Abstract]
Remuneration to directors [Abstract]
Salary to directors 0 0
Total remuneration to directors 0 0
Remuneration to manager [Abstract]
Other benefits to manager 0 0
Total remuneration to manager 0 0
Total managerial remuneration 0 0
Contribution to provident and other funds [Abstract]
Contribution to provident and other funds for others 1,02,14,580 1,09,55,690
Total contribution to provident and other funds 1,02,14,580 1,09,55,690
Staff welfare expense 5,47,512 5,12,150
Total employee benefit expense 4,59,28,883 4,94,51,174
Breakup of other expenses [Abstract]
Consumption of stores and spare parts 1,87,63,389 2,05,02,405
Power and fuel 47,36,61,298 39,06,24,147
Rent 8,75,091 22,92,934
Repairs to building 1,36,139 4,13,600
Repairs to machinery 11,16,095 11,74,529
Insurance 3,68,631 3,83,501
Rates and taxes excluding taxes on income [Abstract]
Other cess taxes 35,88,173 66,19,828
Total rates and taxes excluding taxes on income 35,88,173 66,19,828
Legal professional charges 2,15,325 0
Directors sitting fees 0 0
Bank charges 13,28,912 3,72,359
After sales service expenses 1,41,04,596

(E) 2,21,93,700
Discounting charges 8,327 0
Cost repairs maintenance other assets 2,43,996 1,93,492
Cost transportation [Abstract]
Cost freight 1,60,84,351 5,19,50,662
Total cost transportation 1,60,84,351 5,19,50,662
Provision bad doubtful debts created 0 0
Provision bad doubtful loans advances created 0 0
Adjustments to carrying amounts of investments [Abstract]
Provision diminution value current investments created 0 0
Total adjustments to carrying amounts of investments 0 0
Net provisions charged [Abstract]
Provision warranty claims created 0 0
Total net provisions charged 0 0
Discount issue shares debentures written off [Abstract]
Discount issue shares written off 0 0
Total discount issue shares debentures written off 0 0
Write-off assets [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 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 5,89,04,679 5,36,03,863
Total contract cost 5,89,04,679 5,36,03,863
Payments to auditor [Abstract]
Payment for audit services 65,000 55,000
Payment for taxation matters 26,000 22,000
Payment for other services 35,375 46,500
Payment for reimbursement of expenses 44,425 22,911
Total payments to auditor 1,70,800 1,46,411
136
Miscellaneous expenses 1,86,42,399

(F) 1,80,73,592
Total other expenses 60,82,12,201 56,85,45,023
Current tax [Abstract]
Current tax pertaining to current year 0 0
Total current tax 0 0
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) 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
(C) translations 1,012,565 Profit on sale of fixed assets 45,854 Total 1,058,419
(D) Finance cost on borrowings 72,831,197 Other borrowing costs 2,743,368 Total 75,574,565
(E) Selling & Distribution Expenses
(F) 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
[300600] Notes - Additional information statement of profit and loss
Details of raw materials consumed [Table] ..(1)

Categories of raw materials consumed [Axis] Raw materials consumed [Member] Raw materials consumed 1 [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015
Additional information on profit and loss account
[Abstract]
Additional details in case of manufacturing companies
[Abstract]
Details of raw materials consumed [Abstract]
Details of raw materials consumed [LineItems]
Description of raw materials category raw material raw material raw material raw material
Total raw materials consumed 36,09,27,920 64,57,38,199 36,09,27,920 64,57,38,199
Details of goods purchased [Table] ..(1)

Categories of goods purchased [Axis] Goods purchased [Member] Goods purchased 1 [Member]
01/04/2015 01/04/2014 01/04/2015 01/04/2014
to to to to
31/03/2016 31/03/2015 31/03/2016 31/03/2015
Additional information on profit and loss account
[Abstract]
Additional details in case of manufacturing companies
[Abstract]
Details of goods purchased [Abstract]
Details of goods purchased [LineItems]
Description of goods purchased stock in trade stock in trade stock in trade stock in trade
Total goods purchased 2,42,36,496 23,99,41,973 2,42,36,496 23,99,41,973
137

01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
Additional information on profit and loss account explanatory [TextBlock]
Changes in inventories of finished goods -54,61,730 74,96,731
Changes in inventories of work-in-progress 15,96,77,840 -6,42,055
Total changes in inventories of finished goods, work-in-progress and
15,42,16,110 68,54,676
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 64,63,97,675 143,78,70,385
Total domestic turnover goods, gross 64,63,97,675 143,78,70,385
Export sale traded goods 0 0
Total export turnover goods, gross 0 0
Total revenue from sale of products 64,63,97,675 143,78,70,385
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

01/04/2015 01/04/2014
to to
31/03/2016 31/03/2015
Disclosure of revenue explanatory [TextBlock] [See below] [See below]
Disclosure of revenue explanatory [Text Block]

Revenue Recognition
measured.
Sale of Goods
Interest
138
Disclosure of revenue explanatory [Text Block]

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

31/03/2016 31/03/2015
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
139
[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
01/04/2015 01/04/2015 01/04/2015
to to to
31/03/2016 31/03/2016 31/03/2016
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
Name of key managerial personnel or director KUMAR TODI AGARWAL RATHI
Director identification number of key managerial personnel or
00080303 00080755 06683723
director
Date of birth of key managerial personnel or director 31/07/1943 23/04/1967 25/08/1986
Designation of key managerial personnel or director Independent Director Independent Director Independent Director
Qualification of key managerial personnel or director B.Com B.Com CA & CS
Shares held by key managerial personnel or director [shares] 6,38,100 [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
Gross salary to key managerial personnel or director 0 0 0
Total key managerial personnel or director remuneration 0 0 0
[301000] Notes - Corporate social responsibility

01/04/2015
to
31/03/2016
Disclosure of corporate social responsibility explanatory [TextBlock]
Whether provisions of corporate social responsibility are applicable on
No
company
Whether company has written CSR policy No
140

2015 16 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

2015 16 PDF

Uploaded by

Copyright:

Available Formats

BHASKAR SHRACHI ALLOYS LTD

Standalone Financial Statements for period 01/04/2015 to 31/03/2016

[400100] Disclosure of general information about company

Disclosure of principal product or services [Table] ..(1)

[400400] Disclosures - Directors report

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

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

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

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

NIC code of product/service 7202 3371 3309

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

Unless otherwise specified, all monetary values are in INR

There have been

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

Textual information (1)

Disclosure in board of directors report explanatory [Text Block]

Registered Office: 8/1 Middleton Row, Kolkata- 700 071

Website: www.bhaskargroup.com, E-mail: cs@bhaskargroup.com

Tel : (91-33)2229-7190/0114/8877, Fax: 91-33-2229-7223

1. HIGHLIGHTS OF FINANCIAL RESULTS

PARTICULARS 2015-16 2014-15

Gross Sales 64.64 143.79

Net Sales 60.10 137.51

Income from Operations and Other Income 34.01 12.66

Profit before Finance Cost and Depreciation (25.24) (0.89)

Finance Cost 6.65 7.56

Profit before Depreciation (31.89) (8.45)

Depreciation 2.42 3.32

Profit before tax (34.31) (11.77)

Profit after tax (34.31) (11.77)

Transfer to General Reserve - -

Proposed Final Dividend - -

5. CHANGE IN SHARE CAPITAL

7. SUBSIDIARIES / JOINT VENTURES AND ASSOCIATE COMPANY

8. INTERNAL CONTROL SYSTEM

9. INTERNAL FINANCIAL CONTORLS

10. DIRECTORS AND KEY MANAGERIAL PERSONNEL

11. INDEPENDENT DIRECTORS DECLARATION

12. BOARD MEETINGS

13. EVALUATION OF THE BOARD'S PERFORMANCE

14. REMUNERATION POLICY

15. BOARD COMMITTEES

16. VIGIL MECHANISM POLICY / WHISTLE BLOWER POLICY

17. CODE OF CONDUCT

18. FIXED DEPOSIT

19. CORPORATE SOCIAL RESPONSIBILITY

20. RELATED PARTY TRANSACTIONS

21. RELATIONSHIP BETWEEN DIRECTORS INTER SE

22. PECUNIARY RELATIONSHIP OR TRANSACTION OF NON EXECUTIVE DIRECTORS

23. PARTICULARS OF LOANS, GURANTEES AND INVESTMENTS

24. RISK MANAGEMENT

25. PARTICULRAS OF EMPLOYEES

26. EXTRACT OF ANNUAL RETURN

27. STATUTORY AUDITORS

28. SECRETARIAL AUDIT

29. COST AUDITORS

30. AUDITOR'S REPORT

32. HUMAN RESOURCE MANAGEMENT, HEALTH AND SAFETY

34. DIRECTOR'S RESPONSIBILITY STATEMENT

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

I) Energy conservation measures taken:

a) Correcting the alignment of drive and driven pullies.

b) Up-gradation of old furnaces to make it energy efficient.