SAMRAT F:ORGINGS LIMITED

'
CIN ; 12891 0C H1981
Admn. Offlce &Works:
PLC0O4522
:-
Village & PO. Ghollu Majra, Dtstt. Mohati (punJabl - 1fi 506 tNDtA
ffi
w/
,ffi
Tel.; +91-9257240444 [ranaaement Setuice

E-mall ; info@eamratforglngs.com, W€bsite ; www.eamratforgings.com

Malllng Address & Regd. Olflce :
# 406, 1st Floor, SEctolt5-A, Chandigarh - 160 01S INDIA
Tel, i +91-172-2774508
,,

sFLl2021-22t211 Dated: 06.09.2021

Dy. General Manager,

Corporate Relationship Department,
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street,
Mumbai - 400001

Scrip Code: 543229

Sub: Annual Report for FY 2020-21

Dear Sir,

Pursuant to the provisions of Regulation 34 of SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015, please find enclosed herewith copy of Annual Report for FY
2020-21 of the Company including inter alia Notice of the Company's 40th Annual General
Meeting (AGM), which is being sent through electronic mode to the Members of the Company.
The 40th AGM of the Company will be heid on Thursday, 30tn September, 2021 at 11:30 A.M.
through Video Conferencing / Other Audio Visual Means.

The above is also being r:rploaded on the website of the Company vw\ Ar.samratforgings.com.

You are requested to kindly take the same on record.

Thanking you,

Yours faithfully,
For Saiirrat Forgings Limited

Company Secretary
M. No. F9075

Encl: As above
 Samrat Forgings Limited

SAMRAT FORGINGS LIMITED

Mrs. Bindu Chowdhary &$ 'irs 'oor or 

(Chairperson) Chandi#arh$ 
Mr. a
sh M. uar hon ""
( ana
in
ireor) %ai in(o)sara(or#in#s.o
Mrs. iu oshi *+si www.sara(or#in#s.o
Mr. ay rora C,-"C/ C""
Mr. sho
a
han
a
Ms i a hara
0ia#   hou Mara
Mr. and
uar Chandi#arh  +aa /i#hway
!hsi  1ra+assi
1is. Mohai 2una+3
Mr. ... ro r
0ia# Bhan
r
ur
Ms. ain  ssoias !hsi  1ra+assi
Charrd ounans 1is. Mohai 2una+3
C   or 
anh
ua  
Mas r is d.
!h au  ashir Ban
d. ! "nd 'oor
C  or "" 
ha ,ndusria ra
Chandi#arh$ "" has  ,, w 1hi  "
%ai  in(o)assr .o
B% iid

Pa
a  CONTENTS Page No.

Co
any ,n(oraion444444444444.4 
oi44444444444444444444.. "
1irors5 
or444444444444444.. $
Mana#n 1isussion and naysis 
or44 "$
nn6urs o 1irors7 
or44...444444. "
,nd
ndn udiors5 
or4444444444 
Baan h44444444444444444 
an o( ro(i  oss44444444444. 
Cash 'ow an44444444444444 
an o( han#s in %8uiy $
os on 'inania ans444444444. 

on !hursday h 
+r ""
a  .M. hrou#h
0ido Con(rnin#  hr udio 0isua Mans


 Samrat Forgings Limited

. !o ri  onsidr and ado

 h udid 'inania ans o( h Co
any (or h
'inania 9ar ndd s Marh "" and h 
ors o( h Board o( 1irors and
udiors hron.

h udid 'inania ans o( h Co

any 
or o( h Board
o( 1irors and h udiors5 hron (or h (inania yar ndd on Marh  ""
aon#wih nn6urs as aid +(or his nnua nra Min# + and ar hr+y
ri d onsidrd a

ro d and ado
d.:

". !o a

oin a 1iror in
a o( Mrs. iu oshi 21, 3 who rirs +y roaion
and +in# i#i+ o((rs hrs( (or ra

oinn.

Mrs. iu oshi 21, 3 a 1iror o( h Co

any who
rirs +y roaion a his Min# +in# i#i+ (or ra

oinn as 1iror o( h

Co
any + and is hr+y ra

oind as a 1iror o( h Co

any whos
riod o(
o((i sha + ia+ o drinaion +y rirn o( 1iror +y roaion.

!o onsidr and i( hou#h (i o

ass wih or wihou odi(iaion2s3 h (oowin#
rsouion as an

ursuan o h
ro isions o( ion  and ohr a

ia+
ro isions
o( h Co
anis  " h Co
anis 2udi and udiors3 us " and h
Co
anis 2Cos ords and udi3 us " 2inudin# any sauory andn2s3
odi(iaion2s3 or rnan2s3 hro(3 h runraion
aya+ o Ms. Bawindr 
ssoias Cos ounans 2'ir #israion o. "3 a

oind as h Cos udiors

o( h Co
any o ondu an audi o( h os rords o( h Co
any (or h 'inania 9ar
ndin# on Marh  """ a s.  2 u
s 'ory !housand ny3
us ! and
ri+ursn o( ouo(
o
 6
nss + and is hr+y a

ro d and rai(id.

h Board o( 1irors o( h Co

any and  or h Chi( 'inania
((ir and  or h Co
any rary + and ar hr+y s ray auhori;d o a
 a suh
s
s as ay + nssary
ro
r or 6
din o #i  (( o his rsouion and o do a
suh as dds ars and hin#s as ay + inidna hro.


 Samrat Forgings Limited

!o onsidr and i( hou#h (i o

ass wih or wihou odi(iaion2s3 h (oowin# rsouion as

< =
ursuan o h
ro isions o( sion " 23 and ohr a

ia+
ro isions
i( any o( h Co
anis  " 2inudin# any sauory odi(iaion or rnan hro(
(or h i +in# in (or3 and su+ o h a

ro a o( h #iona 1iror 2orhrn #ion3

Minisry o( Cor
ora ((airs o rnn o( ,ndia and ohr r#uaory auhoriis #o rnn2s3
udiia8uasiudiia auhoriis our2s3  onsn o( h +rs + and is hr+y aordd
(or shi(in# o( h #isrd ((i o( h Co
any (ro h -nion !rriory o( Chandi#arh o h
a o( una+.

su+ o h a(orniond a

ro a and
ursuan o sion 
and a ohr a

ia+
ro isions i( any o( h Co
anis  " h 6isin# aus ,,
o(=Morandu o( ssoiaion o( h Co
any + and is hr+y su+siud=wih=h (oowin#
aus ,,

<,,. !h #isrd ((i o( h Co

any wi + siuad in h a o( una+.:

(or h
ur
os o( #i in# (( o his rsouion Mr. a
sh M
uar Mana#in# 1iror and Mr. and
uar Co
any rary o( h Co
any + and
ar hr+y s ray auhori;d o do a suh as dds (iin#s ars and hin#s and 6u
a suh dds douns insruns and wriin#s on +ha( o( h Co
any as ay +
r8uid o s a 8usions di((iuis or dou+s ha ay aris in his r#ard as h a(orsaid
o((iias o( h Co
any ay in hir so and a+sou disrion d (i and d#a a or
any o( h
owrs hrin on(rrd o any 1iror2s3 ((ir2s3 andor h Consuan o( h
Co
any i( r8uird as ay in hir a+sou disrion d i nssary or dsira+.

By ordr o( h Board o( 1irors

#d. ((i
& $ 'irs 'oor
or  Chandi#arh > $ 
%ai in(o)sara(or#in#s.o
C, -"C/ C""
1a ..""


 Samrat Forgings Limited

. !h rai  %6
anaory an
ursuan o ion " o( h  sin# ou
aria (as onrnin# h +usinss undr , o.    o( h oi is ann6d
hro. !h r an dais
ursuan o #uaions "$23 and $23 o( h isin#
#uaions and raria andard on nra Min#s issud +y h ,nsiu o(
Co
any raris o( ,ndia in rs
 o( 1iror s
in# ra

oinn a his M

ar aso ann6d.
". ,n iw o( h #o+a ou+ra
o( h Co id
andi h Minisry o( Cor
ora ((airs
2<MC:3 has id is nra Ciruar o. """ dad h May "" rad wih nra
Ciruar o. "" dad h 
ri "" o.  "" dad h 
ri "" o. 
"" dad 
+r " "" and nra Ciruar o. "" dad 1+r 
"" in raion o <Cari(iaion on
assin# o( ordinary and s
ia rsouions +y
o
anis undr h Co
anis  " and h rus ad hrundr on aoun
o( h hra
osd +y Co id: and nra Ciruar o.""" dad anuary 
"" 2oi y r(rrd o as <MC Ciruars:3 and %B, id is iruar dad anuary
 "" ha 
rid h hodin# o( h nra Min#s hrou#h 0ido Con(rnin#
2<0C:3  hr udio 0isua Mans 2<0M:3 wihou h
hysia
rsn o( h
M+rs a a oon nu.

!h
rodur (or
arii
ain# in h in# hrou#h 0C 0M
is 6
aind a o o. "".
. s his M is +in# hd hrou#h 0C0M
hysia andan o( M+rs has +n
dis
nsd wih. ordin#y h (aiiy (or a

oinn o(
ro6is +y h M+rs wi
no + a aia+ (or h M and hn h ro6y 'or and ndan i
ar no
ann6d o his oi. !h ou Ma
is aso no r8uird o + ann6d o h oi.
. !h (aiiy (or oinin# M hrou#h 0C0M wi + a aia+ o a h M+rs
1irors y Mana#ria rsonn h Chair
rsons o( h udi Coi oina
ion and unraion Coi and a
hodrs aionshi
Coi udiors
ruini;rs . M+rs an o#in and oin  2(i(n3 inus
rior o h shdu
i o( in# and window (or oinin# sha +

 o
n i h 6
iry o(  2(i(n3
inus a(r h shdud i.
. M+rs andin# h M hrou#h 0C0M sha + ound (or h
ur
os o(
r
onin# h 8uoru undr ion  o( h .
$. ,nsiuiona ,n sors  Cor
ora harhodrs 2i.. ohr han ,ndi idua  /-'   , 3
an a

oin hir auhorisd r

rsnai s
ursuan o ions " and  o( h 
as h as ay + o and h M hrou#h 0C  0M or o o hrou#h ro
0oin#. !hy ar r8usd o snd a ri(id o
y o( h Board souion o(
auhori;aion o h ruini;r +y ai a
anwas)#ai.o wih a o
y ar
d o
h
ds
. oin#)dsindia.o.
. ,n as o( oin /odrs andin# h M ony suh oin /odr whos na a

ar
(irs in h ordr o( nas wi + nid o o.
. ny +ona (id +rs o( h Co
any whos na a

ar (irs on h #isr o(

M+rs wi +
rid o and h in# hrou#h 0C 0M. !h Co
any
rsr s is ri#h o a
 a nssary s
s as ay + dd nssary o rsri non
+rs (ro andin# h in#.


 Samrat Forgings Limited

. !h #isr o( 1irors and y Mana#ria rsonn and hir harhodin#
ainaind undr ion  o( h  and h #isr o( Conras or rran#ns
in whih h 1irors ar inrsd ainaind undr ion  o( h  wi +
a aia+ (or ins
ion +y h M+rs in roni od durin# h M. M+rs
wh o wish o s 
ins
   ay s nd  h ir r  8u s   hrou #h a n a i a
sand
shara)sara(or#in#s.o u
o h da o( M.
. Ms ain  ssoias Charrd ounans wr a

oind as auory udiors o(

h Co
any a h $h nnua nra Min# 2<M:3 hd on "h 
+r "
o hod o((i (ro h onusion o( ha M (or a
riod o( (i  yars. ursuan o
oi(iaion issud +y h Minisry o( Cor
ora ((airs on h May " andin# sion
 o( h  and h us (rad hrundr h andaory r8uirn (or rai(iaion
o( a

oinn o( udiors +y h M+rs a  ry M has +n oid. /n no
rsouion is +in#
ro
osd (or rai(iaion o( a

oinn o( sauory audiors a his

M.
. ,n in wih h a(orsaid MC and %B, iruars h noi o( h M aon# wih h
nnua 
or """ is +in# sn ony hrou#h roni od o hos M+rs
whos ai addrsss ar r#isrd wih h Co
any 1
osioris. M+rs ay
no ha h oi and nnua 
or """ has +n u
oadd on h Co
any5s
w+si www.sara(or#in#s.o and ay aso + assd (ro h r an sion o(
h w+si o( h o
%6han# i.. B% iid a www.+sindia.o. !h M
oi is aso a aia+ on h w+si o( C1 a www. oin#india.o.
". Ms Mas r is d ha in# hir o((i a ! "nd 'oor 
ha ,ndusria ra has
,, w 1hi   " ar h Co
any5s #israr and har !rans(r #n 2< !:3
(or is har #isry *or
2hysia and %roni3.
. !h #isr o( M+rs and har !rans(r Boo
s o( h Co
any wi rain osd
(ro "$.."" o .."" 2+oh days inusi 3.
. ,n rs o( #uaion  o( %B, 2 isin# +i#aions and 1isosur 8uirns3
#uaions " suriis o( h isd o
anis an ony + rans(rrd in da
riai;d (or wih (( (ro s 
ri " 6
 in as o( r8us ri d (or
ransission or rans
osiion o( suriis. ,n iw o( his and o iina a ris
s
assoiad wih
hysia shars M+rs ar ad isd o dariai; shars hd +y
h in
hysia (or. M+rs an ona h Co
any5s #israr and har !rans(r
#ns Ms Mas r is d (or assisan in his ar.
. M+rs hodin# shars in h sa na undr di((rn d#r 'oios ar r8usd
o a

y (or onsoidaion o( suh 'oios and snd h r an shar ri(ias o !
o do h nd(u.
$. !h uriis and %6han# Board o( ,ndia 2%B,3 has dird (or h su+ission o(
rann oun u+r 23 +y  ry
arii
an in suriis ar
. M+rs
hodin# shars in roni (or ar hr(or r8usd o su+i hir  o hir
1
osiory arii
ans wih who hy ar ainainin# hir da aouns. M+rs
hodin# shars in
hysia (or an su+i hir  o h Co
any !.
. ursuan o h
ro isions o( ion " o( h Co
anis  " M+rs an a ai
o( h (aiiy o( noinaion in rs
 o( shars hd +y h. M+rs dsirin# o a ai
o( his (aiiy ay snd hir noinaion in h
rsri+d 'or / duy (id in. ,(
a M+r dsirs o an h arir noinaion and rord a (rsh noinaion h ay
su+i h sa in 'or / . !h said (ors an + downoadd (ro h Co
any5s
w+si a www.sara(or#in#s.o. M+rs ar r8usd o su+i h said (ors o
hir 1 in as h shars ar hd in roni (or and o h ! a in(o)assr .o
in as h shars ar hd in
hysia (or +y 8uoin# hir 'oio o.

i. ,nia hir as +an
aoun dais i;. na and addrss o( h +ranh o( h +an


 Samrat Forgings Limited

wih  di#i M,C od o( h +ranh   di#i ,'C od y

 o( aoun and aoun
nu+r o h rs
i  d
osiory
arii
an in as shars ar hd in da od
and o h Co
any5s #israr and har !rans(r #n Ms Mas r is iid in
as shars ar hd in
hysia od.
ii. ,nia han#s i( any
rainin# o hir r#isrd addrsss ai addrss 

hono+i nu+rs s
in si#naurs 2duy asd +y h +an
3 noinaion .
o hir rs
i  d
osiory
arii
ans whr shars ar hd in roni od and
o h Co
any5s #israr and har !rans(r #n Ms Mas r is iid in as
shars ar hd in
hysia od.
iii. ?uo hir (oio nu+rCin ,11 ,1 in a orrs
ondn.
. M+rs dsirous o( o+ainin# any in(oraion onrnin# h aouns and o
raions
o( h Co
any ar r8usd o addrss hir 8usions in wriin# o h Co
any
rary o( h Co
any +y "h 
+r "".
M+rs who woud i
 o 6
rss hir iws or as
8usions durin# h M ay
r#isr hs s as a s
a
r +y sndin# hir r8us (ro hir r#isrd ai
addrss nionin# hir na 1 ,1 and Cin ,1(oio nu+r  o+i nu+r
a sand
shara)sara(or#in#s.o aas  days
rior o h M. !hos M+rs
who ha  r#isrd hs s as a s
a
r wi ony + aowd o 6
rss hir iws
as
8usions durin# h M. !h Co
any rsr s h ri#h o rsri h nu+r
o( s
a
rs d
ndin# on h a aia+iiy o( i (or h M.
".  an douns r(rrd o in h ao
anyin# oi sha + a aia+ (or
ins
ion +y h M+rs hrou#h roni od on h +asis o( r8us +in# sn
on sand
shara)sara(or#in#s.o.
". M+rs hodin# shars in
hysia od and who ha  no r#isrdu
dad hir
ai addrsss wih h Co
any ar r8usd o r#isru
da hir ai ad
drsss +y wriin# o h Co
any or o h ! o( h Co
any. M+rs hodin#
shars in dariaisd od ar r8usd o r#isru
da hir ai addrsss
wih h r an 1
osiory arii
ans.

as
ro id nssary dais
i
 'oio o. a o( sharhodr sannd o
y o( h shar ri(ia 2(ron and
+a
3 s(asd sannd o
y o(  ard s(asd sannd o
y o( adhar
Ca rd +y  ai o  h Co 
a ny or ! o ( h Co
an y a 
sand
shara)sara(or#in#s.o or in(o)assr .o.
as
ro id 1a aoun dais
2C1  $ di#i +n(iiary ,1 or 1 $ di#i 1,1 @ Cin ,13 a in asr
or o
y o( Consoidad oun san s(asd sannd o
y o(  ard s(
a  s d s  an n  d  o
y o( a dha r Ca rd o h  Co 
a ny a
sand
shara)sara(or#in#s.o or ! o( h Co
any a in(o)assr .o.
3 ,n rs o( %B, iruar dad 1+r  "" on 0oin# (aiiy
ro idd +y isd
Co
anis ,ndi idua sharhodrs hodin# suriis in da od ar aowd o
o hrou#h hir da aoun ainaind wih 1
osioris and 1
osiory arii

ans. harhodrs ar r8uird o u
da hir o+i nu+r and ai ,1 orry
in hir da aoun in ordr o ass 0oin# (aiiy.

,. ,n aordan wih h

ro isions o( ion  o( h Co
anis  " rad wih
u " o( h Co
anis 2Mana#n and dinisraion3 us " 2as andd3
#uaion  o( h isin# #uaions 2as andd3 and h MC Ciruars h
Co
any is
ro idin# (aiiy o( ro 0oin# o is +rs o 6ris hir ri#h o


 Samrat Forgings Limited

o in rs
 o h +usinss o + ransad a h M. 'or his
ur
os h
Co
any has a aid h sr is (ro C1 (or (aiiain# oin# hrou#h roni
ans as h auhorisd a#ny.
,,. M+rs o( h Co
any hodin# shars ihr in
hysia (or or in roni (or as
on h uo(( da o( " rd 
+r "" ay as hir o +y ro 0oin#. 

rson who is no a M+r as on h uo(( da shoud ra his oi (or in(oraion

ur
os ony. 
rson whos na is rordd in h #isr o( M+rs or in h
#isr o( Bn(iia wnrs ainaind +y h d
osioris as on h uo(( da ony
sha + nid o a ai h (aiiy o( ro 0oin# +(or h M as w as ro
0oin# durin# h M. ny
rson who a8uirs shars o( h Co
any and +os
a M+r o( h Co
any a(r h dis
ah o( h oi and hodin# shars as on h
uo(( da i.. "rd 
+r "" ay o+ain h -sr ,1 and assword +y sndin#
a r8us a h
ds
. oin#)dsindia.o or o h Co
any7s #israr and har
!rans(r #n a in(o)assr .o
,,,. !h ro 0oin#
riod ons on " h 
+r "" a . M and nds
on "h 
+r "" a . M. 1urin# his
riod +rs o( h Co
any hodin#
shars ihr in
hysia (or or in dariai;d (or as on h uo(( da 2rord
da3 o( "rd 
+r "" ay as hir o +y ro 0oin#. !h ro 
0oin# odu sha + disa+d +y C1 (or oin# hra(r. n h o on a
rsouion is as +y h +r h +r sha no + aowd o han# i
su+s8uny.
,0. M+rs wi +
ro idd wih h (aiiy (or oin# hrou#h roni oin# sys
durin# h 0C
rodin#s a h M and M+rs
arii
ain# a h M who oud
no as hir o +y ro 0oin#. !hy wi + i#i+ o 6ris hir ri#h o o
a h nd o( disussion on h rsouions on whih oin# is o + hd u
on
announn +y h Chair
rson. M+rs oud ha  as hir o on rsouion2s3
+y ro 0oin#
rior o h M wi aso + i#i+ o
arii
a a h M hrou#h
0C0M +u sha no + nid o as hir o on suh rsouion2s3 a#ain. !h
ro 0oin# odu on h day o( h M sha + disa+d +y C1 (or oin# 
inus a(r h onusion o( h Min#.
0. ursuan o %B, Ciruar o. %B,/'1 CM1C, """" dad 1+r 
"" undr r#uaion  o( h isin# #uaions isd o
anis ar r8uird o

ro id ro  oin# (aiiy o is sharhodrs in rs
 o( a sharhodrs rsou
ions. /ow r i has +n o+sr d ha h
arii
aion +y h
u+i noninsiuiona
+rs  rai +rs is a a n#i#i+  . Currny hr ar ui
  oin#
sr i
ro idrs 2<%s:3
ro idin#  oin# (aiiy o isd o
anis in ,ndia. !his
nssias r#israion on arious %s and ainnan o( ui
 usr ,1s and

asswords +y h +rs. ,n ordr o inras h ((iiny o( h oin#
ross

ursuan o a
u+i onsuaion i has +n didd o na+  oin# o a h da
aoun hodrs +y way o( a sin# o#in rdnia hrou#h hir da aouns 
w+sis o( 1
osioris  1
osiory arii
ans. 1a aoun hodrs woud + a+
o as hir o wihou ha in# o r#isr a#ain wih h %s hr+y no ony
(aiiain# sass auhniaion +u aso nhanin# as and on nin o(
arii

ain# in  oin#
ross.
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assin# o( rsouion +y h +rs and rain ohr issus i was didd +y h


 Samrat Forgings Limited

Board o
os
on h shi(in# o( r#isrd o((i o( h Co
any (or so i.

ow onsidrin# h a+o niond ad ana#s o( ha in# h r#isrd o((i o( h
Co
any a is wor

a h Board is
ro
osin# o shi( h r#isrd o((i o( h Co
any
(ro h -nion !rriory o( Chandi#arh o h a o( una+ +y andin# aus ,, o( h
Morandu o( ssoiaion o( h Co
any.

ursuan o a

ia+
ro isions o( h Co
anis  " a

ro a o( h +rs o( h

Co
any +y way o( 
ia souion is a#ain soiid o #i  (( o h
ro
osd shi(in#
o( h #isrd ((i o( h Co
any. !h
ro
osa wi + ((i  ony on h on(iraion
+y h #iona 1iror 2orhrn #ion3 Minisry o( Cor
ora ((airs o rnn o( ,ndia.
!h Co
any wi a

roah h #iona 1iror o # r8uisi a

ro a a(r
assin# o( h
a(orsaid s
ia rsouion +y h +rs.

on o( h 1irors is dd o + inrsd or onrnd in h a(orsaid rsouion and
h Board o( 1irors rond h rsouion
ro
osd in , no.  o +
assd +y h
+rs as a 
ia souion.

#d. ((i By ordr o( h Board o( 1irors

& $ 'irs 'oor
or 
Chandi#arh > $ 
%ai in(o)sara(or#in#s.o
C, -"C/ C""
1a ..""


 Samrat Forgings Limited

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 Samrat Forgings Limited

1ar M+rs
9our 1irors ha 
asur in
rsnin# h  h nnua 
or o#hr wih h udid
'inania ans o( h Co
any (or h (inania yar ndd  s Marh "".

!h (inania suary o( h Co

any (or h yar undr r iw is #i n +ow (or your
onsidraion

2 s. in a
hs3

 
rain#  nu . ".
hr ,no "." .
ro(i +(or 'inan Cos 1
riaion .$ $.
%6
iona is and a6
'inan Cos $. .
1
riaion "$. ".
%6
iona is  
ro(i +(or a6 . ."
ro ision (or a6 .$ 
1(rrd !a6 2.$3 ".
,no !a6 o(
r ious yar . ."

ro(i a(r a6 "". ."
hr Co
rhnsi  ,no 2n o( a63 . .
!oa Co
rhnsi  ,no ". .
!rans(r o nra sr  . .

,n h +a
dro
o( C0,1 snario (inania yar """ was a han#in# yar
ariu
ary du o i
osiion o( naionwid o
down durin# (irs 8uarr. s a rsu ounry5s o ra
onoy winssd h shar
s din in h (irs 8uarr o( '9 """. ,
ad +y h
sa h Co
any5s o
raions aso raind sus
ndd (ro "rd Marh "" o h 
ri
"" and a(r rsar o( o
raion (ro s May "" h ai iy   #raduay
i
d u

h
a (ro sond 8uarr onwards. s a#riuur sor raind una((d durin# his
sow down h raor indusry o whih h o
any sr s aory winssd a sron# #rowh
durin# h (inania yar ndd s Marh "".

!h Co
any has ahi d is hi#hs  r urno r durin# h (inania yar ndd  s Marh
"". !h n o
rain# r nu (or '9 """ sood a s. . rors as a#ains s. ".
rors o(
r ious yar. *ih oninud (ous on os (ron h Co
any has arnd
ro(i
+(or a6 o( s. . rors a#ains h
r ious yar5s
ro(i +(or a6 o( s. ." a
h
ro(i
a(r a6 2+(or ohr o
rhnsi  ino3 o( s. "." ror 2
r ious yar  s. ." a
h3
ransad ino %arnin# r har o( s. . 2
r ious yar  s. .3. !oa o
rhnsi 
ino 2n o( a63 (or h yar sood a s. ". rors as a#ains s. . a
h o(
r ious
yar.

o aria han#s and oins whih oud a(( your Co

any5s (inania
osiion (or
'9 """ ha  ourrd +wn h nd o( h (inania yar o( your Co
any and da
o( his r
or.


 Samrat Forgings Limited

*ih h o rnn5s oninud (ous on rura sor #ood ra+i ro
har sin# ad8ua
(inanin# a aia+iiy and
rdiion o( nora onsoon i is 6
d ha h raor dand
is i
y o oninu is #rowh raory in '9 """" whih wi + 8ui h
(u o h
Co
any o inras is sas ou and ainain is #rowh in h
rsn (isa. /ow r h
rn sur# in C0,1
andi oud
os so han#s. hou#h h (uur ss
un
rdia+ +u du o o
any5s arid
rodu i6 and s#ns h o
any ho
s o sai
hrou#h sa(y in hs ou#h siuaion (or h ,ndusry. ,s
rinn o add ha h hah and
sa(y o( a our 
oys a(( usors and assoias ar o( uos i
oran o h
o
any and wi aways rain
rioriy.
!h Co
any has d(ini
an o( a
aiy 6
ansion in
rsn (inania yar """". !h
o
any has arady in
ross o( oissionin# a
aiy 6
ansion o( is ran
sha( ahin
in# in +y anohr E o( is insad a
aiy. so o
any has +n o((rd o ahin
n#in asha(s whih
rsny is +in# su

id in raw (or#in#5s sa hus inrasin# sas

and au addiion. ,n addiion or CC ahins ar +in#
annd o srn#hn ahinin#
a
aiis. so h o
any has d o
d any nw
ars +oh (or dosi as w as 6
or
ar
s and is ry on(idn o( #rowh durin# his yar.

!h Co
any has no rans(rrd any aoun o nra sr s.

1urin# h (inania yar ndd  s Marh "" h Co

any has and "$" (or(id
8uiy shars as a

ro d +y h +rs in h nnua nra Min# o( h Co

any hd
on h 
+r "" and +aan o( h sa has +n rans(rrd o h Ca
ia sr .

ar (ro his hr has +n no ohr han# in h Ca
ia ruur o( h Co
any durin#
h '9 """.

!h 1irors r#r hir ina+iiy o rond any di idnd (or h yar undr r iw and
rahr
r(r o onsr  h rsours and
ou#h +a
h arud
ro(is ino h Co
any.

,n rs o( ion "23 o( h Co

anis  " and u " o( h Co
anis 2Mana#
n and dinisraion3 us " h nnua urn o( h Co
any is a aia+ on h
w+si o( h Co
any a h w+ in
 h
ssara(or#in#s.ow
onnu
oads""
nnua urn""".
d(

9our Co
any has no a
d any d
osis wihin h anin# o( ion  o( h Co
anis
 " and Co
anis 2
an o( 1
osis3 us " durin# h yar undr r iw.

,n h as nnua nra Min# hd on  h 

+r "" h M+rs had
a. a

ro d h a

oinn o( Ms i a hara as ,nd

ndn 1iror o( h
Co
any no ia+ o rir +y roaion o hod o((i (or a
riod o( (i  yars (ro
h ori#ina da o( a

oinn i.. o +r  " u

o o +r  "" and

+. ra

oind Mr. a
sh M uar as Mana#in# 1iror o( h Co

any (or a
riod
o( hr yars wih (( (ro 1+r  "".


 Samrat Forgings Limited

,n rs o( sion " o( h Co

anis  " Mrs. iu oshi 21, 3 1iror
is ia+ o rir +y roaion a h (orhoin# nnua nra Min# and +in# i#i+ o((rs
hrs( (or ra

oinn.

!h dais o( h dirors +in# rondd (or a

oinnra

oinn ar onaind

in h oi on nin# h nsuin# nnua nra Min# o( h Co
any.

 h ,nd
ndn 1irors ha  #i n daraion o h Co
any ha hy  h riria
o( Aind
ndn5 s ou in h %B, 2 isin# +i#aions and 1isosur 8uirns3
#uaions " and h Co
anis  ". !h Board is o( h o
inion ha h
,nd
ndn 1irors o( h Co
any hod hi#h sandards o( in#riy and
ossss r8uisi
6
ris and 6
rin r8uird o (u(i hir duis as ,nd
ndn 1irors.

1urin# h yar i#h Board Min#s and on in# o( ,nd
ndn 1irors wr
on nd and hd. !h inr nin# #a
+wn h in#s was wihin h
riod
r
sri+d undr h Co
anis  ".

ursuan o h a

ia+
ro isions o( h Co
anis  " and h isin# #uaions
h Board in onsuaion wih is oinaion  unraion Coi has
u in
a a
(rawor
onainin# inraia h riria (or
r(oran  auaion o( h nir Board o(
h Co
any is Cois and ,ndi idua 1irors inudin# ,nd
ndn 1irors. ord
in#y (oowin# is h riria (or  auaion

i. 'r8uny o( Min#s
ii. ?uanu o( #nda
iii. dinisraion o( Min#s
i . 'ow and 8uaniy o( ,n(oraion (ro h Mana#n o h Board
. u+r o( Cois and hir ro
i.  ra
r(oran o( h Co
any

i. 'r8uny o( Min#s
ii. ?uanu o( #nda
iii. dinisraion o( Min#s
i . 'ow and 8uaniy o( ,n(oraion (ro h Mana#n o h Coi
. o o( Cois
i. Conri+uion o h dision a
in#
ross o( h Board


 Samrat Forgings Limited

i. %6
rin and a+iiy o onri+u o h dision a
in#
ross
ii. ro+ so in# a

roah and #uidan o h Mana#n

iii. ndan and arii
aion in h Min#s
i . rsona o
nis and onri+uion o sra#y (oruaion
. Conri+uion owards sauory o
ians oniorin# o( onros and Cor
ora o r
nan
i. !h  auaion o( ind
ndn dirors sha + don +y h nir +oard o( dirors whih
sha inud >

a. r(oran o( h dirorsF and

+. (u(in o( h ind

ndn riria as s
i(id in hs r#uaions and hir ind
n
dn (ro h ana#n
ordin# o h a+o  riria h Board has arrid ou h annua
r(oran  auaion
o( is own
r(oran h dirors indi iduay as w as h  auaion o( h wor
in# o(
is udi Coi oinaion  unraion Coi and a
hodrs aionshi

Coi.  sruurd 8usionnair was

r
ard +asd on h a+o  said
arars and
a(r a
in# ino onsidraion in
us ri d (ro h 1irors o rin# arious as
s o(
h Boards (unionin# suh as ad8uay o( h o
osiion o( h Board and is ois
Board uur 6uion and
r(oran o( s
i(i duis o+i#aions and #o rnan .
 s
ara 6ris was arrid ou o  aua h
r(oran o( indi idua dirors
inudin# h Chair
rson o( h Board who wr  auad on
arars suh as   o(
n#a#n and onri+uion ind
ndn o( ud#n sa(#uardin# h inrs o( h
Co
any and is sa
hodrs . !h
r(oran  auaion o( h ,nd
ndn 1irors
was arrid ou +y h nir Board. !h
r(oran  auaion o( h Chair
rson and h
on ,nd
ndn 1irors was arrid ou +y h ,nd
ndn 1irors who aso r iwd
h
r(oran o( h Co
any rary.
!h ,nd
ndn 1irors had  s
aray on ".."" wihou h
rsn o( on
,nd
ndn 1irors and h +rs o( ana#n and disussd inraia h
r(or
an o( non,nd
ndn 1irors and Board as a who and h
r(oran o( h
Chair
rson o( h Co
any a(r a
in# ino onsidraion h iws o( %6ui  and on
%6ui  1irors.

!h 1irors 6
rss hir sais(aion o r h  auaion
ross.

Basd on rondaions o( h oinaion and unraion Coi h Board has
ado
d a oinaion and unraion oiy whih is nosd as nn6ur  o his
r
or.

!h (aiiari;aion

ro#ra (or ,nd
ndn 1irors is a aia+ on h w+si o( h
Co
any a h w+ in
 h
sara(or#in#s.ow
onnu
oads"'aiiari;a
ion
ro#ra(orind
ndndirors.
d(


 Samrat Forgings Limited

ursuan o ion 2323 and 23 o( h Co

anis  " h dirors o h +s
o( hir
nowd# and +i( on(ir ha
2i3 in h
r
araion o( h annua aouns (or h yar ndd  s Marh "" h
a

ia+ aounin# sandards ha  +n (oowd and hr ar no aria d

ar
urs (ro h saF
2ii3 hy ha  sd suh aounin#
oiis and a

id h onsisny and ad

ud#ns and sias ha ar rasona+ and
rudn so as o #i  a ru and (air
iw o( h sa o( a((airs o( h Co
any as a  s Marh "" and o( h
ro(i o( h
Co
any (or h yar ndd on ha daF
2iii3 hy ha  a
n
ro
r and su((iin ar (or h ainnan o( ad8ua aounin#
rords in aordan wih h
ro isions o( h Co
anis  " (or sa(#uardin#
h asss o( h Co
any and (or
r nin# and din# (raud and ohr irr#uariisF
2i 3 h annua aouns ha  +n
r
ard on a #oin# onrn +asisF
2 3 ad8ua inrna (inania onros o + (oowd +y h Co
any ha  +n aid down
and suh inrna (inania onros wr o
rain# ((i y durin# h 'inania 9ar
ndd  s Marh ""F
2 i3
ro
r syss ha  +n d isd o nsur o
ian wih h
ro isions o( a
a

ia+ aws and suh syss wr ad8ua and o

rain# ((i y hrou#hou h
'inania 9ar ndd s Marh "".

!h udi Coi o

riss o( hr 1irors i;. Mr. ay rora 2Chairan o( h Coi
3 Mr. a
sh M uar and Ms i a hara. 1urin# h 'inania 9ar """ hr was
no han# in h o
osiion o( h udi Coi. Mr. a
sh M uar is h Mana#in#
1iror o( h Co
any and ohr wo M+rs o( h oi ar ,nd
ndn 1irors.
 h M+rs o( h Coi
ossss sron# aounin# and (inania ana#n

nowd#. !h Co
any rary o( h Co
any is h rary o( h Coi.

 h rondaions o( h udi Coi ad durin# h 'inania 9ar """ wr
a
d +y h Board.

!h Co
any has no u+sidiary oin 0nur or ssoia Co
any.

9our Co
any has no #i n any oans or #uarans and i has aso no ad any in sns
o rd undr h
ro isions o( ion $ o( h Co
anis  ".

!hr has +n no han# in h naur o( +usinss o( h o

any durin# h yar undr
r iw.


 Samrat Forgings Limited

Ms ain  ssoias Charrd ounans 2 #n. no. $3 wr a

oind as
auory udiors o( h o
any in $h nnua nra Min# 2M3 o( h o
any hd
on "h 
+r " (or a r o( (i  yars i.. i h onusion o(  s M o( h
Co
any o + hd in h yar """.

ursuan o h oi(iaion issud +y h Minisry o( Cor

ora ((airs on  h May "
andin# ion  o( h Co
anis  " h andaory r8uirn (or rai(iaion
o( a

oinn o( udiors +y h M+rs a  ry M has +n oid and hn your
Co
any has no
ro
osd rai(iaion o( a

oinn o( Ms ain  ssoias Charrd

ounans a h (orhoin# M.

!h udi 
or #i n +y h udiors o( h (inania sans o( h Co
any (or h
(inania yar """ (ors
ar o( h nnua 
or. !hr has +n no 8uai(iaion
rsr aion or ad rs rar
or disair #i n +y h udiors in hir r
or.

ursuan o h
ro isions o( ion " o( h Co
anis  " and h Co
anis
2

oinn and unraion o( Mana#ria rsonn3 us " h o

any had
a

oind Mr. anwai in#h Co

any rary in
rai 2C o. 3 o undra
 h
raria udi o( h Co
any. !h raria udi 
or ri d (ro h said audior
is ann6d o his r
or as nn6ur ". !h raria udi 
or dos no onain any
8uai(iaion rsr aion or ad rs rar
.

!h Co
any is ainainin# os rords aordin# o h
ro isions o( ion 23 o( h
Co
anis  ". Cos udi was no a

ia+ o h Co

any (or h 'inania 9ar
""".

!h Board o( 1irors on h rondaion o( h udi Coi a

oind Ms Bawindr

 ssoias Cos ounans 2'ir #israion u+r "3 as h Cos udiors o( h
Co
any (or h 'inania 9ar """" undr ion  o( h Co
anis  ". M
s Bawindr  ssoias ha  on(ird ha hir a

oinn is wihin h iis o( ion

232#3 o( h Co
anis  " and ha  aso ri(id ha hy ar (r (ro any
dis8uai(iaions s
i(id undr su+ sion 23 o( ion  o( !h Co
anis  "
rad wih su+ sion 23 o( ion  o( !h Co
anis  ".

!h udi Coi has aso ri d a Cri(ia (ro h Cos udiors ri(yin# hir
ind
ndn and ars n#h raionshi
wih h Co
any.

s
r h
ro isions o( h Co
anis  " h runraion
aya+ o h Cos udior
is r8uird o +
ad +(or h M+rs in a nra Min# (or hir rai(iaion.
ordin#y a souion s
in# M+rs5 rai(iaion (or h runraion
aya+ o Ms
Bawindr  ssoias Cos udiors is inudd in h oi on nin# h nnua nra
Min#.

 rad
ary ransaions ha wr nrd ino durin# h (inania yar """ wr in
h ordinary ours o( +usinss on ar5s n#h +asis. !hr wr no aria ransaions
ad +y h o
any durin# h yar ha woud ha  r8uird +rs5 a

ro a.


 Samrat Forgings Limited

 san #i in# dais o( a rad

ary ransaions is
ad +(or h udi Coi
on 8uarry +asis. rior oni+us a

ro a o( h udi Coi is o+aind (or h ransa

ions whih ar r
ii  in naur.

!h Co
any has ado
d a
oiy o da wih ad ary !ransaions as a

ro d +y
h Board o( 1irors and h sa is a aia+ on is w+si a h
sara(or#in#s.o
in sors
oiyonrad
aryransaions

,n aordan wih sion 2h3 o( h Co

anis  " and u 2"3 o( h Co
anis
2ouns3 us " 'or C" o is nosd as nn6ur  o his 
or. !h dai
o( h rad
ary ransaions as
r ,nd ar s ou in o  o h 'inania
ans.

1urin# h 'inania 9ar """ h B% iid has #i n is a

ro a (or isin# o( 8uiy

shars o( h Co
any and aordin#y h Co
any #o isd on B% w..(. h o +r
"". !h Co
any has
aid h isin# ( (or h 'inania 9ar """" o h o

%6han#.

!h o
any has (rad and ado
d a Cod o( Condu 2h Cod3 whih is a

ia+ o
h M+rs o( h Board and +rs o( h snior ana#n o( h o
any. !h od
has +n
osd on h w+si o( h Co
any i.. www.sara(or#in#s.o.

!h Cod ays down h sandard

rodur o( +usinss ondu whih is 6
d o +
(oowd +y h 1irors and +rs o( h snior ana#n in hir +usinss dain#s
and in
ariuar on ars rain# o in#riy in h wor

a in +usinss
rais and
in o
ian o( a

ia+ aws.

 h Board M+rs and h nior Mana#n

rsonn ha  on(ird o
ian wih
h Cod durin# h (inania yar ndd  s Marh "".

9our Co
any
roos hia +ha ior in a is +usinss ai iis and has
u in
a a
hanis o( r
orin# i#a unhia +ha ior and aua or sus
d (raud or ioaions
o( Co
any5s Cod o( Condu. !h Co
any has a *his Bowr oiy whrin h

oys ar (r o r
or ioaions o( aws rus r#uaions or unhia ondu o h
0i#ian and %his ((ir o( h Co
any or h Chairan o( udi Coi o( h
Co
any. !h on(idniaiy o( h r
ord ioaions i( any is ainaind and h 
oys
r
orin# ioaions ar no su+d o any disriinaory
rai. 0i#i Mhanis*his
Bowr oiy is
osd on h w+si o( your Co
any a www.sara(or#in#s.oin sors

oiis.

1urin# h yar undr r iw hr wr no (rauds r

ord +y h audiors o h udi
Coi or h Board undr sion 2"3 o( h Co
anis  ".


 Samrat Forgings Limited

Basd on h wor

r(ord +y h inrna sauory and sraria audiors and r iws
arrid ou +y h ana#n and h r an Board Cois h 1irors ar o( h
o
inion ha h Co
any has in
a ad8ua inrna (inania onros wih r(rn o
(inania sans onsura wih h si; and naur o( h +usinss o( h Co
any.
1urin# h yar no r
ora+ aria wa
nsss in h dsi#n or o
raion wr o+sr d.

!h Co
any has ado
d and
u in
a ani s6ua harassn
oiy in in wih h
r8uirns o( h 6ua /arassn o( *on a *or

a 2r nion rohi+iion and
drssa3  " and h rus hr undr. !h oiy ais o
ro id
roion o won
a h wor

a and
r n and rdrss o
ains o( s6ua harassn and (or ars
onnd or inidna hro wih h o+i  o(
ro idin# a sa( wor
in# n ironn. !h
Co
any has onsiud an ,nrna Co
ains Coi o n8uir ino and rdrss
o
ains ri d i( any r#ardin# s6ua harassn. !h Coi has no ri d any
o
ain o( s6ua harassn durin# h (inania yar """.

9our Co
any aways nda ors o #i  rs
ons o sharhodrs5 r8uss  #ri ans a h
iniu i
ossi+. rioriy is aordd o addrss a h issus raisd +y h sharhodrs
and
ro id h a sais(aory r
y idiay. !h Co
any has ri d on #ri an
r#ardin# rans(r o( shars (ro a sharhodr durin# h (inania yar """ and h sa
#o rso d +y h Co
any. o #ri an was
ndin# a h nd o( h (inania yar.

9our Co
any is oninuousy ainainin# hahy ordia and haronious indusria raions
a a  s. ,ndusria raions and wor
aos
hr raind ordia hrou#hou h (inania
yar.

o aria han#s ha  ourrd or oins ad a(r  s Marh "" whih ay
a(( h (inania
osiion o( h Co
any or r8uir disosur.

!h
ro isions o( Cor
ora oia s
onsi+iiy ar no a

ia+ o h o

any. /n h
o
any has no ad any
oiy on or
ora soia rs
onsi+iiy.

1urin# h yar undr r iw hr has +n no suh si#ni(ian and aria ordrs
assd
+y h r#uaors or ours or ri+unas i
ain# h #oin# onrn saus and o
any5s


 Samrat Forgings Limited

o
raions in (uur. 'urhr hr is no
rodin#
ndin# undr h ,nso ny and
Ban
ru
y Cod "$.

is
Mana#n is a ry i

oran
ar o( +usinss in oday5s onoi n ironn and
an on#oin#
ross wihin h Co
any. !h ain ai o( ris
ana#n is o idni(y
onior and a

rauionary asurs in rs
 o( h  ns ha ay
os ris
s o h
+usinss. 9our o
any is aways nda ord o idni(y and a
 a

ro
ria and iy
aion o ii#a a y
 o( ris
s in o d in +usinss o( h o
any and in his r#ard a

oiy on ris
ana#n has +n ado

d +y h Co
any.


rsn h o
any has no idni(id any n o( ris
whih ay hran h 6isn
o( h o
any.

Considrin# h ris
in o d in h anu(aurin#

ross o
iu sa(y
ro isions ha 
+n ad in a s#ns o( h Co
any and h sa ar h
d
riodiay. !h
Co
any noura#s in o n o( a is 
oys in ai iis rad o sa(y inudin#

rooion o( sa(y sandards. !hr wr no aor aidns in h

ans durin# h yar.
rin#n 8uaiy onro (or a
rodus and raw arias has +n inor
orad and h
Co
any has w 8ui

d a+oraory o nsur 8uaiy onro.

!h Co
any has ardid wih ,!' $"$ Cri(iaion (ro !-0 -1. #uar audis
ar ondud undr his Cri(iaion.

!h Mana#n 1isussion and naysis 

or whih o rs h sa o( h Co
any5s
a((airs (or a
ar o( his 
or.

ordin# o r#uaion 2"3 o( %B, 2 isin# +i#aions and 1isosur 8uirns3
#uaions " 2< isin# #uaions:3 h
ro isions o( Cor
ora o rnan ar no
a

ia+ o h Co

any as h
aid u
a
ia and n worh o( h o
any ar ss han
h si
uad iis. so h r#uaions r#ardin# ara C 1 and % o( hdu 0 o( h isin#
#uaions ar no a

ia+ o h Co

any. !hr(or h r
or on or
ora #o rnan
1araion +y hi( 6ui  o((ir r#ardin# a((iraion o( o
ian wih h od o(
ondu +y h 1irors  +rs o( snior ana#n and Cri(ia r#ardin# o
i
an o( ondiions o( or
ora #o rnan ar no ann6d wih h dirors5 r
orannua
r
or (or h yar ndd  s Marh "".

1urin# h yar undr r iw h Co

any has o
id wih a

ia+ raria on
in#s o( h Board o( 1irors and nra Min#s issud +y h ,nsiu o( Co
any
raris o( ,ndia.


 Samrat Forgings Limited

,n rs o( h a

ia+
ro isions o( h Co
anis  " Mr. a
sh M uar
Mana#in# 1iror Mr. and
uar Co
any rary and Mr. ... ro r Chi(
'inania ((ir o( h Co
any ar h y Mana#ria rsonn o( h Co
any as on  s
Marh "".

!h Co
any #o isd on B% w..(. .."". Cons8uny h
ro ision o( sion "
r#ardin# a

oinn o( y Mana#ria rsonn +a a

ia+ on h Co

any. !h
Board has rdsi#nad Mr. ... ro r (ro nra Mana#r 2'inan3 and a

oind hi
as Chi( 'inania ((ir o( h Co
any w..(. h '+ruary "" o o
y wih h r8uird

ro isions r#ardin# a

oinn o( y Mana#ria rsonn.

!h dais
rainin# o runraion and ohr dais as r8uird undr sion 2"3 o(
h Co
anis  " rad wih u  o( h Co
anis 2

oinn and unraion

o( Mana#ria rsonn3 us " (or h (inania yar """ ar ann6d as nn6ur
 o his r
or.

9our Co
any is onsious o( is rs
onsi+iiy owards
rsr aion o( naura rsours and
oninuousy a
s arious iniiai s o rdu h onsu
ion o( riiy and war. !h

ro isions o( #uaion 2"32(3 o( h isin# #uaions r#ardin# Businss s
onsi+iiy

or ar no a

ia+ o h o

any.

!h
ariuars rain# o onsr aion o( nr#y hnoo#y a+sor
ion (ori#n 6han#
arnin#s and ou#o as r8uird o + disosd undr h Co
anis  " ar
ro idd
in nn6ur  o his 
or.

9our 1irors wish o

a on rord hir a

riaion (or h who hard and sinr o

o
raion h Co
any has ri d (ro is +an
rs (inania insiuions and arious o rn
n a#nis. 9our 1irors aso wish o
a hir d
sns o( a

riaion o h
sharhodrs (or hir oninud su

or and on(idn r

osd +y h in h ana#n
o( h Co
any and oo
(orward o hir aua+ su

or (or h (uur

ans o( h Co
any.
9our 1irors aso wish o a
nowd# h onri+uion ad +y h wor
rs and 
oys
a a  s ha has onri+ud o h #rowh and suss o( h Co
any.

'or and on +ha( o( h Board

a Chandi#arh
1ad ..""


 Samrat Forgings Limited

9our dirors ha 
asur in
rsnin# h ana#n disussion and anaysis r
or (or
h yar ndd on Marh  "".

!h ,ndian %onoy ( shar

y in h 'inania 9ar """ inudin# an aos o

washou o( (irs 8uarr o( h '9 """ du o h naionwid o
down n(ord +y h
#o rnn o urai h s
rad o( orona irus. !h soia and onoi sho
o( suddn

aus in onoi ai iy and soia disanin# has si#ni(iany uraid h onoi
#rowh.
,ndian 'or#in# ,ndusry has aso ( h ha o( sowdown  n a(r h rsar o( o
raions
a(r o
down o( aos wo onhs a h +#innin# o( h '9 du o arious rasons i

day in
rourn o( raw arias du o h rans
oraion rsriions a+our shora#s
osur o( arious usors in di((rn sas .
!his rsud in a
o( onsur s
ndin# and ausd a s
down(a in aos a sors
o( h indusry (or a aor
ar o( h '9 """. /ow r hin#s did oo
u
 as dand
undrwn a rans(oraion a(r C0,1 s
iay in h a#riuur sor. !h
rdid
+r onsoons did (a or (or h a#riuur sor oo +oosin# h raor sas in in wih
h 6
aions. !h dand (or oria his oninud o + undr
rssur wih
risin# (u
ris and su+dud anu(aurin# ai iy in h (irs ha( o( '9 """".
/ow r wih h roou o( a ar#sa ainaion
ro#ra and r i a in aoriy o( h
onoi indiaors h o
iis around ro ry o( ,ndian ,ndusry has +n rirad.

1s
i h o
 so

a# o( o
raions durin# h onh o( 
ri "" h o
any has
+n a+ o sur
ass is arir rord and ahi d is hi#hs  r urno r durin# h '9
""". !h Co
any is ryin# o inras is ou o( su

is o is 6isin# usors

and 6
or nw +usinss o

oruniis wih s
ia (ous on 6
or. Co id i
a is h
+i##s hra in h
rsn (inania yar. ,( h o
any oud susain his i
a i an
ahi  is ar#s.
ssary iniiai s and s
s owards au n#inrin# os rduions
rodus u

#radaion oninu o + h ain (ous (or h o

any his yar oo.

!h Co
any o
ras in sin# s#n i.. anu(aurin# o( osd di s (or#in#s and
ahind o
onns and a is o
raiona
r(oran r
ord in h (inania sans
and ohr r
ors (orin#
ar o( h nnua 
or ar (ro his sin# s#n ony. !h
Co
any anu(aurs and su

y wid ran# o( o

onns o is usors in auooi 
and nonauooi  indusrisF hus h  auaion o(
rodu wid
r(oran is uh
o
iad and no (asi+ o + r
ord and h
r(oran o( h o
any an +
ro#ni;d as a who as hr is no s
ara s#n (or r
orin#.

!h ar
 snario rains unrain du o h i

a o( Co id. !h i
a o( h
downrnd has +n i
ain# ad rsy o h nir indusry a aross ,ndia. Bu onsidrin#
h i
ro n in dand in h raor indusry whr your o
any has aor
rsn
and nw +usinsss oin# (ro o rsas usors i is 6
d ha h o
any woud
+ a+ o ainain is +usinss in his s#n. !h ohr sors ha  +n ry +arish
s
iay in h oria hiF how r h Co
any sri in# o 6u h ordrs (ro
a is usors in arious sors.
!h o
any has d o
d any nw
ars +oh (or dosi as w as 6
or ar
s and
is ry on(idn o( #rowh as  whn h ar
 ondiions i
ro  in h oin# onhs.
!h Co
any has d(ini
an o( a
aiy 6
ansion in
rsn (inania yar """". !h


 Samrat Forgings Limited

o
any has arady in
ross o( oissionin# a
aiy 6
ansion o( is ran
sha( ahin
in# in +y anohr E o( is insad a
aiy. so o
any has +n o((rd o ahin
n#in asha(s whih
rsny is +in# su

id in raw (or#in#5s sa hus inrasin# sas

and au addiion. ,n addiion or CC ahins ar +in#
annd o srn#hn ahinin#
a
aiis.

!h (uur rains un

rdia+ du o h oninuous ad rs (( o( Co id
andi.
/n any ra
s or hird wa  o( Co id an ha  ad rs rsus in (uur whih rain
aor onrn (or h o
any. Moro r oodiy ris
s harari;d +y (uuaions in
dand and su

y and
ri o ns
os si#ni(ian ris
in anu(aurin# indusris. ,n
h 'or#in# indusry oy s +in# h
riary raw aria (or anu(aurin# is sus
i+
o ris
s arisin# (ro (uuaions in #o+a s
ri o n. !h i
a o( suh ris
s ras
han#s in ainainin# o
ii  ad ana# in
ri and sraind wor
in# a
ia r8uir
ns o( h o
any.

 d
arns o( h Co
any ar ad8uay sa((d wih
ro(ssionay 8uai(id and
6
rind
rsonn. !hr ar sa+ishd inrna onro syss and
rodurs in
a
onsura o h si; and naur o( +usinss o( h Co
any whih nsur ((iin us
and
roion o( +usinss rsours and o
ian wih h
oiis
rodurs and saus.
!h (inania in(oraion is o
id
riodiay and r iwd +y h ana#n i o i.
!h r
orin# and oniorin# sys is a+ora and h sa is r iwd +y h ana#n
on r#uar +asis. !h inrna onro is su

nd +y
ro#ras o( inrna audis r iw
+y h ana#n and dound
oiis #uidins and
rodurs. !h (ous o( hs
r iws is o idni(y h wa
nsss and h aras o( i
ro n o
ian wih d(ind

oiis and
rosss sa(#uardin# h an#i+ and inan#i+ asss and o
ian wih
a

ia+ saus.

,n h +a
dro
o( C0,1 snario (inania yar """ was a han#in# yar

ariuary du o i
osiion o( naionwid o
down durin# (irs 8uarr. s a rsu ounry5s
o ra onoy winssd h shar
s din in h (irs 8uarr o( '9 """. ,
ad +y
h sa h Co
any5s o
raions aso raind sus
ndd (ro "rd Marh "" o h

ri "" and a(r rsar o( o
raion (ro s May "" h ai iy   #raduay
i
d
u
h
a (ro sond 8uarr onwards. s a#riuur sor raind una((d durin# his
sow down h raor indusry o whih h o
any sr s aory winssd a sron# #rowh
durin# h (inania yar ndd s Marh "".
!h Co
any has ahi d is hi#hs  r urno r durin# h (inania yar ndd  s Marh
"". !h n o
rain# r nu (or '9 """ sood a s. . rors as a#ains s. ".
rors o(
r ious yar. *ih oninud (ous on os (ron h Co
any has arnd
ro(i
+(or a6 o( s. . rors a#ains h
r ious yar5s
ro(i +(or a6 o( s. ." a
h
ro(i
a(r a6 2+(or ohr o
rhnsi  ino3 o( s. "." ror 2
r ious yar  s. ." a
h3
ransad ino %arnin# r har o( s. . 2
r ious yar  s. .3. !oa o
rhnsi 
ino 2n o( a63 (or h yar sood a s. ". rors as a#ains s. . a
h o(
r ious
yar.

!h Co
any +i s ha is huan asss ar h os aua+ asss whih on r

annin# ino 6uion and #nra rsus. /n h Co
any aways nda or and
ani  on ha in# 8uai(id and and 
oys in a di isions. !h ana#n aways


s is (ous o  aua h
r(oran o( a 
oys and nssary s
s ar a
n


 Samrat Forgings Limited

o srn#hn h aras ha nd i

ro ns. Mor 6
rind hnia an
owr is
+in# a
n a h snior   o srain h who +usinss
ross and ad8ua (aiiis
and o

oruniis ar aso +in#

ro idd o h hnia and
ro(ssiona sa(( o u
da
hs s wih h as hnoo#is and di((rn ohr ai iis. !h o
any oninud
o ainain #ood raionshi
wih wor
rs and sa(( durin# h as yar.
s on Marh  "" h o
any had $
rann 
oys.

  F ! F !" 

 



  F

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,QWHUHVW&RYHUDJH5DWLR   
&XUUHQW5DWLR   
'HEW (TXLW\ 5DWLR   
2SHUDWLQJ3URILW0DUJLQ   
1HW3URILW0DUJLQ   
5HWXUQRQ1HW:RUWK   

!h ,n nory urno r raio inrasd as h urno r o( h o

any inrasd +y E as
o
ard o
r ious yar whras hr is ssr inras in in nory  .
,nrs o ra# raio inrasd du o uh hi#hr   o( sas and
ro(ia+iiy as
o
ard o
r ious yar.

ro(i ar#in inrasd as
ro(ia+iiy has inrasd in h urrn yar.
urn on n worh inrasd du o inras in
ro(i o r n worh in o
arison o as
yar.

!his r
or ay onain sans
ariuary whih ra o Mana#n 1isussion and
naysis dsri+in# Co
any5s o+i s
roions sias and 6
aions  whih
h Co
any +i s ar or ay + onsidrd o + <(orward oo
in# sans: wihin h
anin# o( a

ia+ aws and r#uaions. !h aua rsus i#h di((r ariay (ro
hos 6
rssd or i
id. !h Co
any assus no rs
onsi+iiy in rs
 o( (orward
oo
in# sans whih ay + andd or odi(id in h (uur on h +asis o( su+s8un
d o
ns in(oraion or  ns.

'or and on +ha( o( h Board

#d. ((i
&$ 'irs 'oor or 
Chandi#arh > $ 
%ai in(o)sara(or#in#s.o
C, -"C/ C""
1a ..""
a Chandi#arh


 Samrat Forgings Limited

 a  s and a a is onary o

nsaion has +n i( no h so +u h os
i
oran oi aiona as
 (or #in# h o+ (u(id undr any #i n +usinss snario.
, is h nda or o( ara 'or#in#s iid 2hrina(r r(rrd as <h Co
any:3 ha is
oinaion  unraion oiy shoud r
rsn h od in whih h Co
any arris
ou is +usinss
rais i.. (air rans
arn inusi  and (6i+.
!h Co
any sri s ha is unraion oiy shoud ara oi a i
ro 
rodui iy
and rain an
owr +y rain# a on#nia wor
n ironn noura#in# iniiai s

rsona #rowh and a wor
 and inuain# a sns o( +on#in#nss and in o n
+sids o((rin# a

ro
ria runraion
a
a#s and su
rannuaion +n(is.
!his oinaion  unraion oiy a

is o 1irors y Mana#ria rsonn

2M3 nior Mana#n and ohr 
oys o( h Co
any.

ion  o( h Co

anis  " r8uirs  ry isd o
any and suh ass or
asss o( o
anis as ay +
rsri+d o sa+ish a oinaion and
unraion Coi 2hrina(r r(rrd as <h Coi:3 and ha suh Coi
sha (orua h riria (or drinin# 8uai(iaions
osii  ari+us and
ind
ndn o( a diror and rond o h Board a
oiy rain# o h runraion
(or h dirors
y ana#ria
rsonn snior ana#n and ohr 
oys.
!h Coi sha whi (oruain# h runraion
oiy sha nsur haG

h   and o

osiion o( runraion is rasona+ and su((iin o ara rain
and oi a 1irors o( h 8uaiy r8uird o run h o
any suss(uyF

raionshi
o( runraion o
r(oran is ar and s a

ro
ria
r(oran
+nhar
sF

and runraion o 1irors
y ana#ria

rsonn and snior ana#n in o s
a +aan +wn (i6d and inni 
ay r(in# shor and on#r
r(oran o+
i s a

ro
ria o h wor
in# o( h o
any and is #oas.
!his
oiy is di idd ino hr
ars >
 !  > 

oinn o( 1iror M and nior Mana#n rsonn

 ! B > Board 1i rsiy
 ! C > unraion o 1iror M nior Mana#n rsonn and ohr 
oys

a. !h Coi sha idni(y and asrain h in#riy 8uai(iaion 6
ris and 6
ri
n o( h
rson (or a

oinn as 1iror M or a nior Mana#n   and

rond o h Board his  hr a

oinn.
+. 
rson shoud
ossss ad8ua 8uai(iaion 6
ris and 6
rin (or h
osiion
h  sh is onsidrd (or a

oinn. !h Coi has disrion o did whhr


 Samrat Forgings Limited

8uai(iaion 6
ris and 6
rin
ossssd +y a
rson is su((iin  sais(aory (or
h onrnd
osiion.

. !r and !nur o( 1iror ,nd

ndn 1iror Mana#in# 1iror *ho !i
1iror and M sha + #o rnd +y h
ro isions o( Co
anis  " as ay
+ in (or and andd (ro i o i.

d. 1u o rasons (or any dis8uai(iaion niond in h Co

anis  " 2hrina(r
r(rrd o as <h :3 or undr any ohr a

ia+  rus and r#uaions

hrundr h Coi ay rond o h Board wih rasons rordd in wriin#
ro a o( a 1iror M or ohr 
oy su+ o h
ro isions and o
ian
o( h said  rus and r#uaions.

. !h 1iror M sha rir as

r h a

ia+
ro isions o( h  and h
r aiin#

oiy o( h Co
any. !h Board wi ha  h disrion o rain h 1iror M nior
Mana#n rsonn on h sa
osiion runraion or ohrwis  n a(r aain
in# h rirn a# (or h +n(i o( h Co
any.

(. !h runraion o

nsaion  oission inrn . o h 1irors and M wi
+ drind +y h Coi and rondd o h Board (or a

ro a. !h
runraion  o
nsaion  Coissioninrn . sha + su+ o h
rior
os
a

ro a o( h sharhodrs o( h Co

any and Cnra o rnn whr r r8uird
undr h Co
anis  ".

#. /uan sour 1
arn o( h Co
any in onsuaion wih ChairanMana#in#
1iror o( h Co
any is 
owrd o a

oin h andidas in h nior

Mana#n in rs o( h riria
rsri+d hrin and r
or hir a

oinn o h
Coi. !h Coi ay aso idni(y and rond o h Board who ay +
a

oind in snior ana#n in aordan wih h riria aid down.

h. *hr any insuran is a
n +y h Co

any on +ha( o( is *ho i 1iror
Mana#in# 1iror Chi( %6ui  ((ir Chi( 'inania ((ir h Co
any rary
and any ohr 
oys (or indni(yin# h a#ains any ia+iiy h
riu
aid on
suh insuran sha no + rad as
ar o( h runraion
aya+ o any suh

rsonn. ro idd ha i( suh
rson is
ro d o + #uiy h
riu
aid on suh
insuran sha + rad as
ar o( h runraion.

!h Board sha onsis o( suh nu+r o( 1irors inudin# a as on woan 1iror and
no ss han (i(y
rn o( h Board o( 1irors o
risin# non 6ui  dirors as is
nssary o ((i y ana# h Co
any o( is si;.

*hn h Chairan o( h Board is a non6ui  diror a as onhird o( h Board
shoud o
ris ind
ndn dirors and in as h o
any dos no ha  a r#uar non
6ui  Chairan or in as h r#uar non6ui  Chairan is a
roor o( h
o
any a as ha( o( h Board shoud o
ris ind
ndn dirors.

!h Coi wi ad h

ross (or Board a

oinns.  Board a

oinns wi +
+asd on h s
is di rs 6
rin ind
ndn and
nowd# whih h Board as a
who r8uirs o + ((i . !h Coi sha s
o addrss Board aanis +y
ai y onsidrin# andidas ha +rin# a di rsiy o( +a
#round and o
inion (ro aon#s
hos andidas wih h a

ro
ria +a
#round and indusry or rad 6
ris and
6
rin.


 Samrat Forgings Limited

ddiionay h Board ay onsidr a

oinn o( 6
rs (ro arious s
iai;d (ids
suh as (inan aw in(oraion hnoo#y or
ora sra#y ar
in# and +usinss
d o
n inrnaiona +usinss o
raions ana#n . so as o +rin# di rsi(id s
i
ss on +oard or sud any ou#oin# diror wih h sa 6
ris.

l unraion
!h Co
any sri s o
ro id (air o
nsaion o 1irors M nior Mana#n
rsonn and ohr 
oys a
in# ino onsidraion (oowin# (aors >
,ndusry +nhar

Co
anyAsA
r(oran is a is indusry
o
 o( duis ros and rs
onsi+iiis

i
nowd#
r(oranra
rord
Cor
r(oran r8uirns and 6
aions o( indi iduas
#a and indusria +i#aions

Mana#in# 1iror *hoi 1iror sha + i#i+ (or runraion as ay + a

ro d
+y h harhodrs o( h Co
any on h rondaion o( h oinaion and unra
ion Coi and h Board o( 1irors in rs o( h
ro isions o( ion  rad wih
hdu 0 and ohr a

ia+
ro isions o( h Co
anis  ".

!h +ra
u
o( h
ay sa and 8uanu o( aowans
r8uisis inudin# 
oyrAs
onri+uion o
ro idn (und
nsion sh dia 6
nss ar  dri r (aiiy . sha
+ didd and a

ro d +y h Board on h rondaion o( h oinaion 

unraion Coi. !h runraion ay aso +
aid in h (or o( ro(i in
d
Coission +u wih h o ra iis as sad a+o .

l Miniu unraion

,( in any (inania yar h Co

any has no
ro(is or is
ro(is ar inad8ua h Co
any
sha
ay runraion o is Mana#in# 1iror*hoi 1iror in aordan wih h
hdu 0 and ohr a

ia+
ro isions o( h  and i( i is no a+ o o
y wih suh

ro isions hn wih h

rior a

ro a o( h Cnra o rnn.

l ro isions (or 6ss runraion

,( any Mana#in# 1iror*hoi 1iror draws or ri s diry or indiry +y way o(
runraion any suh sus in 6ss o( h iis
rsri+d undr h  or wihou h
rior
sanion o( h Cnra o rnn whr r8uird h  sh sha r(und suh sus o h
Co
any and uni suh su is r(undd hod i in rus (or h Co
any. !h Co
any sha
no wai  ro ry o( suh su r(unda+ o i unss
rid +y h Cnra o rnn.

l iin# 's

!h ,nd
ndn 1irors and on %6ui  on ,nd
ndn 1irors o( h Co
any sha
+
aid siin# (s as a

ro d +y h Board in rs o( h

ro isions o( h .


 Samrat Forgings Limited

l o

ions

ursuan o h
ro isions o( h  an ,nd
ndn 1iror sha no + nid o any so

o
ion o( h Co
any.


ar (ro h 1irors runraion aon# wih annua inrn o( a ohr M nior
Mana#n rsonn and ohr 
oys o( h Co
any sha + drind
+y / d
arn in onsuaion wih Mana#in# 1iror*hoi 1irors o( h
Co
any.

!h runraion and inrn hro( shoud + in in wih o

anyAs
hioso
hy o

ro id (air o

nsaion o 
oys +asd on hir 6
rin ros and rs
onsi+iiis

r(oran ra
rord #a o+i#aion indusry +nhar
 o+ o

6iy .

!h arious runraion o

onns suh as +asi saary aowans
r8uisis  ay
+ o+ind o nsur an a

ro
ria and +aan runraion
a
a#.

!h ,nni 
ay sha + didd +y / d
arn o( h Co
any +asd on h /

oiis in raion hro and onsidrin# h +aan +wn

r(oran o( h Co
any
and
r(oran o( h y Mana#ria rsonn nior Mana#n rsonn and ohr

oy.

!h Coi ay rond o h Board a

oiy (or #ranin# o
o
ions o M nior
Mana#n rsonn and ohr 
oys in in wih h
ro isions o( h  %B,
r#uaion and h
ro ision o( any ohr a

ia+ aws.

!his unraion oiy sha a

y o a 6isin# and (uur 

oys o( h Co
any.

!h Co
any rsr s is ri#h o and or odi(y his oiy in who or in
ar a any i
wihou assi#nin# any rason whaso r. /ow r no suh andn or odi(iaion wi
+ +indin# on h 1irors and 
oys unss h sa is ouniad in h annr
dsri+d as a+o .

'or and on +ha( o( h Board

a Chandi#arh
1ad ..""


 Samrat Forgings Limited

# 

' !/% ',C, 9% %1%1 M C/  ""

rsan o eion
( ) o he Copanies 
  an e o o he
Copanies(ppoinenaneneraiono ana
eriaersonne)es
 
!o
!h M+rs
ara 'or#in#s iid
&$ 'irs 'oor
or 
Chandi#arh $.
, ha  ondud h sraria audi o( h o
ian o( a

ia+ sauory
ro isions and
h adhrn o #ood or
ora
rais +y M ! ' , ,M,!%1 2hrina(r ad
<h Co
any:3. raria udi was ondud in a annr ha
ro idd  a rasona+
+asis (or  auain# h or
ora ondussauory o
ians and 6
rssin# y o
inion
hron.
Basd on y ri(iaion o( h M ! ' , ,M,!%15 +oo
s
a
rs inu +oo
s
(ors and rurns (id and ohr rords ainaind +y h Co
any and aso h in(oraion

ro idd +y h Co

any is o((irs a#ns and auhori;d r
rsnai s durin# h ondu
o( sraria audi , hr+y r
or ha in y o
inion h Co
any has durin# h audi
riod
o rin# h (inania yar ndd on Marh  "" o
id wih h sauory
ro isions
isd hrundr and aso ha h Co
any has
ro
r Board
rosss and o
ian
hanis in
a o h 6n in h annr and su+ o h r
orin# ad hrina(r
, ha  6aind h +oo
s
a
rs inu +oo
s (ors and rurns (id and ohr rords
ainaind +y M ! ' , ,M,!%1 2<h Co
any:3 (or h (inania yar ndd on
Marh  "" undr h
ro isions o( +ow niond r#uaions
2i3 !h Co
anis  " 2h 3 and h rus ad hrundrF
2ii3 !h uriis Conras 2 #uaion3  $ 2AC 53 and h rus ad hrundrF
2iii3 !h 1
osioris  $ and h #uaions and Byaws (rad hrundrF
2i 3 'ori#n %6han# Mana#n   and h rus and r#uaions ad hrundr
o h 6n o( 'ori#n 1ir ,n sn  rsas 1ir ,n sn and %6rna
Coria Borrowin#sF
2 3 !h (oowin# #uaions and uidins
rsri+d undr h uriis and %6han#
Board o( ,ndia  " 2A%B, 53 o h 6n a

ia+ a(r h isin# o( h 8uiy

shars o( h o
any on B% iid w..(. ..""
a3 !h uriis and %6han# Board o( ,ndia 2u+sania 8uisiion o( hars and
!a
o rs3 #uaions " and !h uriis and %6han# Board o( ,ndia 2u+san
ia 8uisiion o( hars and !a
o rs3 2ndn3 #uaions ".
+3 !h uriis and %6han# Board o( ,ndia 2rohi+iion o( ,nsidr !radin#3 #uaions
".
3 !h uriis and %6han# Board o( ,ndia 2har Basd %
oy Bn(is3 #ua
ions " o 

ia+ as h o

any has no
ro idd any shar +asd 
oy
+n(is durin# h (inania yar.


 Samrat Forgings Limited

d3 !h uriis and %6han# Board o( ,ndia 2,ssu o( Ca

ia and 1isosur 8uir
ns3 #uaions " o 

ia+ o h o

any durin# h (inania yar undr
r iw.
3 !h uriis and %6han# Board o( ,ndia 2Buy+a
o( uriis3 #uaions "
o 

ia+ as hr was no insan o( BuyBa
durin# h (inania yar.

(3 !h rswhi uriis and %6han# Board o( ,ndia 2,ssu and isin# o( 1+
uriis3 #uaions " and Cha
r 0 o( uriis and %6han# Board o( ,ndia
2 isin# +i#aions and 1isosur 8uirns3 #uaions " o a

ia+ as
h o
any has no issud any d+ suriis durin# h (inania yar undr r iw.
#3 !h uriis and %6han# Board o( ,ndia 2 #isrars o an ,ssu and har !rans(r
#ns3 #uaions  r#ardin# h Co
anis  and dain# wih in o
a

ia+ as h o

any is no r#isrd as #israr o an ,ssu and har !rans(r
#n durin# h (inania yar undr r iw.
h3 !h uriis and %6han# Board o( ,ndia 21isin# o( %8uiy hars3 #uaions
" inudin# h andns hro( o a

ia+ as h o

any has no disd
any suriis (ro any so
6han# durin# h (inania yar undr r iw.
2 i3 !h aor
ro isions and r8uirns ha  aso +n o
id wih as
rsri+d
undr a a

ia+ a+our aws i;. !h 'aoris   !h ayn o( *a#s
 $ !h ayn o( Bonus  $ ,ndusria 1is
u   %
oy a
,nsuran   !h %
oy5s ro idn 'und and Misanous ro isions 
" !h ayn o( rauiy  " !h ,ndusria %
oyn 2andin# rdr3
 $ !h %
oyn %6han# 2Co
usory oi(iaion o( 0aanis3  $.
2 ii3 %n ironn roion  $ and ohr n ironna aws.
2 iii3 /a;ardous *as 2Mana#n and /andin#3 us  and h ndns us
".
2i63 !h ir2r nion and Conro o( ouion3  
263 !h *ar 2r nion and Conro o( ouion3  
, ha  aso 6aind o
ian wih h a

ia+ auss o( h (oowin#

a3 raria andards issud +y !h ,nsiu o( Co
any raris o( ,ndia.
+3 !h %B, 2 isin# +i#aions  1isosur 8uirns3 #uaions " 2A 1
#uaions53 +in# isd on B% iidF
1urin# h
riod undr r iw h Co
any has o
id wih h
ro isions o( h a rus
r#uaions #uidins sandards . niond a+o .
Basd on our 6ainaion and h in(oraion ri d and rords ainaind , (urhr r
or
ha
. !h Board o( 1irors o( h Co
any is duy onsiud wih
ro
r +aan o(
%6ui  1irorsF on%6ui  1irors and ,nd
ndn 1irors. !h han#s in h
o
osiion o( h Board o( 1irors ha oo

a durin# h
riod undr r iw wr
arrid ou in o
ian wih h
ro isions o( h .

". d8ua noi is #i n o a dirors o shdu h Board Min#s a#nda and
daid nos on a#nda wr sn w in ad an and a sys 6iss (or s
in# and
o+ainin# (urhr in(oraion and ari(iaions on h a#nda is +(or h in# and (or
anin#(u
arii
aion a h in#.


 Samrat Forgings Limited

.  disions ar arrid ou hrou#h aoriy whi h dissnin# +rs5 iws i( any
ar a
urd and rordd as
ar o( h inus.

. !h Co
any has
ro
r +oard
rosss.

Basd on h o

ian hanis sa+ishd +y h Co
any and on h +asis o( h
o
ian ri(ia2s3 issud +y h Co
any rary ((irs , a o( an o
inion ha

. !hr ar ad8ua syss and

rosss in h Co
any onsura wih h si;
and o
raions o( h Co
any o onior and nsur o
ian wih a

ia+ aws
rus r#uaions and #uidins.

". n 6ainaion o( h r an douns and rords on s h
+asis h
Co
any has o
id wih h (oowin# aws s
i(iay a

ia+ o h o

any

a. !h ,ndian %riiy  " and ,ndian %riiy us ".

+. rou  


ar (ro h +usinss sad a+o  hr wr no insans o(

2i3 u+i  i#hs  r(rnia issu o( shars  d+nurs  swa 8uiy.

2ii3 d
ion  +uy+a
o( suriis.

2iii3 Maor disions a
n +y h M+rs in

ursuan o ion  o( h Co
anis
 ".

2i 3 Mr#r  aa#aaion  ronsruion .

2 3 'ori#n hnia oa+oraions.

a Chandi#arh
1a ..""

-1, 'C$
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'C o. 
C  o. 

'urhr his r
or is o + rad wih our r o(  n da whih is ann6d as <nn6ur
: and (ors an in#ra
ar o( his r
or.


 Samrat Forgings Limited

<nn6ur:

!o
!h M+rs
ara 'or#in#s iid
&$ 'irs 'oor
or 
Chandi#arh $.

My r
or o(  n da is o + rad aon# wih his r.

. Mainnan o( sraria rords is h rs

onsi+iiy o( h ana#n o( h
o
any. My rs
onsi+iiy is o 6
rss an o
inion on hs sraria rords +asd
on y audi.

". , ha  (oowd h audi

rais and
rosss as wr a

ro
ria o o+ain
rasona+ assuran a+ou h orrnss o( h onns o( sraria rords. !h
ri(iaion was don on s +asis o nsur ha h orr (as ar r(d in
sraria rords. , +i  ha h
rosss and
rais w (oowd
ro id a
rasona+ +asis (or y o
inion.

. , ha  no ri(id h orrnss and a

ro
rianss o( (inania rords and +oo
s
o( aouns o( h o
any.

. *hr r r8uird , ha  o+aind h ana#n r

rsnaion a+ou h o
i
an o( aws rus and r#uaions and ha

nin# o(  ns .

. !h o
ian o( h
ro isions o( or
ora and ohr a

ia+ aws rus r#ua

ions sandards is h rs
onsi+iiy o( h ana#n. My 6ainaion was iid o
h 6n o( ri(iaion o(
rodurs on s +asis.

$. !h sraria audi r

or is nihr an assuran as o h (uur ia+iiy o( h
o
any nor o( h ((iay or ((i nss wih whih h ana#n has ondud
h a((airs o( h o
any.

a Chandi#arh
1a ..""

-1, 'C$

* ,! ,/ !/%*

'C o. 
C  o. 


 Samrat Forgings Limited

#  $

'or (or 1isosur o(

ariuars o( onrasarran#ns nrd ino durin# h 'inania
9ar """ +y h o
any wih rad
aris r(rrd o in su+ sion 23 o( sion 
o( h Co
anis  " inudin# rain ars n#h ransaion undr hird
ro iso
hro.

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'or and on +ha( o( h Board

a Chandi#arh
1ad ..""


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+n onsidrd (or o
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oy who i( 
oyd
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 Samrat Forgings Limited

. 1urin# h 'inania 9ar undr r iw hr was no 

oy who i( 
oyd (or a

ar o( h (inania yar was in ri
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ar o( h yar a a ra
whih in h a##r#a was no ss han i#h a
hs and (i(y housand ru
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oy who i( 
oyd
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ar hro( was in ri
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whih in h a##r#a or as h as ay + a a ra whih in h a##r#a was
in 6ss o( ha drawn +y h Mana#in# 1iror and hods +y his( or aon# wih his
s
ous and d
ndn hidrn no ss han wo
rn o( h 8uiy shars o( h
o
any.

. on o( h a+o  

oys is rad o any o( h 1irors 6
 Mr. a
sh M
uar who is +rohr o( Mrs. iu oshi 1iror.

'or and on +ha( o( h Board

a Chandi#arh
1ad ..""


 Samrat Forgings Limited

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 Samrat Forgings Limited

1isosur o(
ariuars wih rs
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rior 8uaiy and i
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ord durin# h as hr yars.

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a Chandi#arh
1ad ..""


 Samrat Forgings Limited

* ha  audid h ao

anyin# sandaon(inania sans o( M ! ' ,
,M,!%1 2<h Co
any:3 whih o
riss h andaon Baan h as a Marh 
"" h andaon an o( ro(i and oss 2inudin# hr Co
rhnsi  ,no3
h andaon an o( Cash 'ows and h andaon an o( Chan#s in %8uiy
(or h yar hn ndd Marh  "" and a suary o( si#ni(ian aounin#
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ohr 6
anaory in(oraion 2hrina(r r(rrd o as <h sandaon (inania sans:3.
,n our o
inion and o h +s o( our in(oraion and aordin# o h 6
anaions #i n o us
h a(orsaid sandaon (inania sans #i  h in(oraion r8uird +y h Co
anis
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h ,ndian ounin# andards
rsri+d undr sion  o( h rad wih h Co
a
nis 2,ndian ounin# andards3 us " as andd 2<,nd :3 and ohr aounin#

rini
s #nray a
d in ,ndia o( h sa o( a((airs o( h Co
any as a Marh 
"" h
ro(i and oa o
rhnsi  ino han#s in 8uiy and is ash (ows (or h
yar ndd on ha da.

* ondud our audi o( h sandaon (inania sans in aordan wih h an
dards on udiin# s
i(id undr ion 23 o( h  2s3. ur rs
onsi+iiis undr
hos andards ar (urhr dsri+d in h iors esponsiiiies or he i o he
anaone inania aeens sion o( our r
or. * ar ind
ndn o( h Co
any in
aordan wih h Cod o( %his issud +y h ,nsiu o( Charrd ounans o( ,ndia
2,C,3 o#hr wih h ind
ndn r8uirns ha ar r an o our audi o( h
sandaon (inania sans undr h
ro isions o( h  and h us ad hr undr
and w ha  (u(id our ohr hia rs
onsi+iiis in aordan wih hs r8uirns
and h ,C,5s Cod o( %his. * +i  ha h audi  idn w ha  o+aind is su((iin
and a

ro
ria o
ro id a +asis (or our audi o
inion on h sandaon (inania sans.

* draw anion o no $ o( h andaon ,nd  (inania an whih dsri+s h
ana#n5s  auaion o( i
a o( unrainis rad o C0,1 naiona o
down (or
in h (inania yar """and is ons8unia ((s on h arryin# au o( is
ro
ry

an and 8ui

n inan#i+ asss and d(rrd a6 asss Iinudin# M! rdiJ +asd
on inrna and 6rna in(oraion.
ur o
inion is no odi(id in rs
 o( his ar.

y audi ars ar hos ars ha in our

ro(ssiona ud#n wr o( os si#ni(ian
in our audi o( h sandaon (inania sans o( h urrn
riod. !hs ars wr
addrssd in h on6 o( our audi o( h sandaon (inania sans as a who and
in (orin# our o
inion hron and w do no
ro id a s
ara o
inion on hs ars.
%ah ar +ow our dsri
ion o( how our audi addrssd h ar is
ro idd in ha
on6.
* ha  drind h ars dsri+d +ow o + h
y audi ars o + ouni
ad in our r
or* ha  (u(id h rs
onsi+iiis dsri+d in h udior5s rs
onsi+ii
is (or h audi o( h sandaon ,nd  (inania sans sion o( our r
or inudin#
in raion o hs ars. ordin#y our audi inudd h
r(oran o(
rodurs


 Samrat Forgings Limited

dsi#nd o rs
ond o our assssn o( h ris
s o( aria issan o( h sandaon
,nd  (inania sans. !h rsus o( our audi
rodurs inudin# h
rodurs

r(ord o addrss h ars +ow

ro id h +asis (or our audi o
inion on h
ao
anyin# sandaon ,nd  (inania sans

Accuracy of recognition, measure- rinci a Au
it roce
ures

ment, resentation an

iscosures of
reenues an
oter reate
aances * assssd h rou
5s
ross o
in ie of a
o tion of n
A
e- idni(y h i
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enue from ontracts it ustomers nw r nu aounin# sandard. ur
ne reenue accounting stan
ar
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roah onsisd sin# o( h

dsi#n and o
rain# ((i nss o(
h inrna onros and su+sani 
sin# as (oows
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iaion o( h nw r nu

aounin# sandard in o s rain
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ud#ns rain# o idni(iaion o( onros rain# o i
naion o(
disin
r(oran o+i#aions dr h nw r nu aounin# sandard.
inaion o( ransaion
ri o( h idn
i(id
r(oran o+i#aions h a
 l d a sa
 o( oninuin#

ro
rianss o( h +asis usd o a and nw onras and sd h o
r
sur r nu ro#ni;d o r a
riod. ain# ((i nss o( h inrna on
ddiionay nw r nu aounin# ro rain# o idni(iaion o( h dis
sandard onains disosurs whih in
r(oran o+i#aions and dr
in o  oaion o( in(oraion in r inaion o( ransaion
ri. * ar
s
 o( disa##r#ad r nu and rid ou a o+inaion o(
rodurs

riods o r whih h rainin#
r in o in# n8uiry and o+sr aion
(oran o+i#aions wi + sais(id r
r(oran and ins
ion o(  i
su+s8un o h +aan sh da. dn in rs
 o( o
raion o( hs
onros.
l !sd h r an in(oraion
hnoo#y syss5 ass and han#
ana#n onros rain# o on
ras and rad in(oraion usd in
rordin# and disosin# r nu in
aordan wih h nw r nu a
ounin# sandard.
l d a sa
 o( oninuin#
and nw onras and
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a3 ad anay;d and idni(id h
disin
r(oran o+i#aions
in hs onras.
+3 Co
ard hs
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rordd +y h rou
.
3 Considrd h rs o( h on
ras o drin h ransa
ion
ri inudin# any aria+
onsidraion o ri(y h rans
aion
ri usd o o
u r 


 Samrat Forgings Limited

nu and o s h +asis o( s

iaion o( h aria+ onsidr
aion.
d3 a
s in rs
 o( r nu
rordd (or i and aria
onras wr sd usin# a
o+inaion o( a

ro d i
shs inudin# usor a

ans su+s8un in oiin# and
hisoria rnd o( oions and
dis
us.
3 !sd h
ro ision auaions
rad o ana#n inni s
disouns and r+as +y a#r
in# a sa
 o( aouns ro#
ni;d o undryin# arran#ns
wih usors and ohr su

or
in# douns.
+aind Con(iraions (ro usors
on sa
 +asis o su

or 6isn
assrion o( rad ri a+s and as
sssd h r an disosurs ad in
h (inania sansF o nsur r 
nu (ro onras wih usors ar
in aordan wih h r8uirns o(
r an aounin# sandards.

auation of uncertain ta ositions rinci a Au
it roce
ures

!h Co
any has aria unrain a6 +aind dais o( o
d a6 as

osiions inudin# ars undr dis
u sssns and dands (or h yar
whih in o s si#ni(ian ud#n o ndd Marh  "" (ro ana#
drin h
ossi+ ouo o( hs n. * in o d our inrna 6
rs
dis
us. o han# h ana#n5s undr
yin# assu
ions in siain# h a6

ro ision and h
ossi+ ouo o(
h dis
us. ur inrna 6
rs aso
onsidrd #a
rdn and ohr
ruin#s in  auain# ana#n5s
o
siion on hs unrain a6
osiions.

!h Co
any5s Board o( 1irors is rs
onsi+ (or h
r
araion o( h ohr in(oraion.
!h ohr in(oraion o
riss h in(oraion inudd in h Mana#n 1isussion and
naysis Board5s 
or inudin# nn6ur o Board5s 
or Businss s
onsi+iiy 

or Cor
ora o rnan and harhodr5s ,n(oraion +u dos no inud h sandaon
(inania sans and our audior5s r
or hron.

ur o
inion on h sandaon (inania sans dos no o r h ohr in(oraion and
w do no 6
rss any (or o( assuran onusion hron.

,n onnion wih our audi o( h sandaon (inania sans our rs
onsi+iiy is o rad
h ohr in(oraion and in doin# so onsidr whhr h ohr in(oraion is ariay


 Samrat Forgings Limited

inonsisn wih h sandaon (inania sans or our
nowd# o+aind durin# h
ours o( our audi or ohrwis a

ars o + ariay issad.

,( +asd on h wor
w ha 

r(ord w onud ha hr is a aria issan o(
his ohr in(oraionF w ar r8uird o r
or ha (a. * ha  nohin# o r
or in his r#ard.

!h Co
any5s Board o( 1irors is rs
onsi+ (or h ars sad in sion 23 o( h
 wih rs
 o h
r
araion o( hs sandaon ,nd  (inania sans ha #i  a
ru and (air iw o( h sa o( a((airs
ro(ioss 2inudin#ohr o
rhnsi  ino3
han#s in 8uiy and ash (ows o( h Co
any in aordan wih h ,nd  and ohr
aounin#
rini
s #nray a
d in ,ndia. !his rs
onsi+iiy aso inuds ainnan
o( ad8ua aounin# rords in aordan wih h
ro isions o( h  (or sa(#uardin# h
asss o( h Co
any and (or
r nin# and din# (rauds and ohr irr#uariisF sion
and a

iaion o( a

ro
ria aounin#
oiisF a
in# ud#ns and sias ha ar
rasona+ and
rudnF and dsi#n i
naion and ainnan o( ad8ua inrna
(inania onros ha wr o
rain# ((i y (or nsurin# h auray and o
nss o(
h aounin# rords r an o h
r
araion and
rsnaion o( h sandaon (inania
sans ha #i  a ru and (air iw and ar (r (ro aria issan whhr du
o (raud or rror.

,n
r
arin# h sandaon ,nd  (inania sans ana#n is rs
onsi+ (or assss
in# h Co
any5s a+iiy o oninu as a #oin# onrn disosin# as a

ia+ ars
rad o #oin# onrn and usin# h #oin# onrn +asis o( aounin# unss ana#n
ihr innds o i8uida h Co
any or o as o
raions or has no raisi arnai .

!h Board o( 1irors ar rs

onsi+ (or o rsin# h Co
any5s (inania r
orin#

ross.

ur o+i s ar o o+ain rasona+ assuran a+ou whhr h sandaon(inania
sans as a who ar (r (ro aria issan whhr du o (raud or rror and
o issu an audior5s r
or ha inuds our o
inion. asona+ assuran is a hi#h   o(
assuran +u is no a #uaran ha an audi ondud in aordan wih s wi aways
d a aria issan whn i 6iss. Missans an aris (ro (raud or rror and
ar onsidrd aria i( indi iduay or in h a##r#a hy oud rasona+y + 6
d
o in(un h onoi disions o( usrs a
n on h +asis o( hs sandaon (inania
sans.

s
ar o( an audi in aordan wih s w 6ris
ro(ssiona ud#n and ainain

ro(ssiona s

iis hrou#hou h audi. * aso

l ,dni(y and assss h ris
s o( aria issan o( h sandaon (inania sa
ns whhr du o (raud or rror dsi#n and
r(or audi
rodurs rs
onsi  o
hos ris
s and o+ain audi  idn ha is su((iin and a

ro
ria o
ro id a +asis
(or our o
inion. !h ris
o( no din# a aria issan rsuin# (ro (raud is
hi#hr han (or on rsuin# (ro rror as (raud ay in o  ousion (or#ry inniona
oissions isr
rsnaions or h o rrid o( inrna onro.

l +ain an undrsandin# o( inrna (inania onros r an o h audi in ordr o

dsi#n audi
rodurs ha ar a

ro
ria in h irusans. -ndr sion 232i3
o( h  w ar aso rs
onsi+ (or 6
rssin# our o
inion on whhr h Co
any
has ad8ua inrna (inania onros sys in
a and h o
rain# ((i nss
o( suh onros.

l % aua h a

ro
rianss o( aounin#
oiis usd and h rasona+nss o(
aounin# sias and rad disosurs ad +y ana#n.


 Samrat Forgings Limited

l Conud on h a

ro
rianss o( ana#n5s us o( h #oin# onrn +asis o(
aounin# and +asd on h audi  idn o+aind whhr a aria unrainy
6iss rad o  ns or ondiions ha ay as si#ni(ian dou+ on h Co
any5s
a+iiy o oninu as a #oin# onrn. ,( w onud ha a aria unrainy 6iss
w ar r8uird o draw anion in our audior5s r
or o h rad disosurs in h
sandaon (inania sans or i( suh disosurs ar inad8ua o odi(y our
o
inion. ur onusions ar +asd on h audi  idn o+aind u
o h da o( our
audior5s r
or. /ow r (uur  ns or ondiions ay aus h Co
any o as
o oninu as a #oin# onrn.

l % aua h o ra

rsnaion sruur and onn o( h sandaon (inania
sans inudin# h disosurs and whhr h sandaon (inania sans
r
rsn h undryin# ransaions and  ns in a annr ha ahi s (air
rsn
aion.

Mariaiy is h a#niud o( issans in h sandaon (inania sans ha
indi iduay or in a##r#a a
s i
ro+a+ ha h onoi disions o( a rasona+y

nowd#a+ usr o( h (inania sans ay + in(und. * onsidr 8uaniai 
ariaiy and 8uaiai  (aors in 2i3
annin# h so
 o( our audi wor
and in  auain#
h rsus o( our wor
F and 2ii3 o  aua h (( o( any idni(id issans in h
(inania sans.

* ounia wih hos har#d wih #o rnan r#ardin# aon# ohr ars h

annd so
 and iin# o( h audi and si#ni(ian audi (indin#s inudin# any si#ni(ian
d(iinis in inrna onro ha w idni(y durin# our audi.

* aso
ro id hos har#d wih #o rnan wih a san ha w ha  o
id wih
r an hia r8uirns r#ardin# ind
ndn and o ounia wih h a
raionshi
s and ohr ars ha ay rasona+y + hou#h o +ar on our ind
ndn
and whr a

ia+ rad sa(#uards.

'ro h ars ouniad wih hos har#d wih #o rnan w drin hos
ars ha wr o( os si#ni(ian in h audi o( h sandaon (inania sans o( h
urrn
riod and ar hr(or h
y audi ars. * dsri+ hs ars in our
audior5s r
or unss aw or r#uaion
ruds
u+i disosur a+ou h ar or whn
in 6ry rar irusans w drin ha a ar shoud no + ouniad in our
r
or +aus h ad rs ons8uns o( doin# so woud rasona+y + 6
d o
ouwi#h h
u+i inrs +n(is o( suh ouniaion.

. s r8uird +y sion  23 o( h  w r

or ha

2a3 * ha  sou#h and o+aind a h in(oraion and 6

anaions whih o h +s
o( our
nowd# and +i( wr nssary (or h
ur
os o( our audi.

2+3 ,n our o
inion
ro
r +oo
s o( aoun as r8uird +y aw ha  +n

 +y h
Co
any so (ar as i a

ars (ro our 6ainaion o( hos +oo
sF

23 !h Baan h an o( ro(i and oss inudin# hr Co
rhnsi 
ino h Cash 'ow an and an o( Chan#s in %8uiy da wih +y
his 
or ar in a#rn wih h +oo
s o( aounF

2d3 ,n our o
inion h a(orsaidsandaon (inania sans o
y wih h ,ndian
ounin# andards s
i(id undr sion  o( h  rad wih u  o(
h Co
anis 2ouns3 us ".


 Samrat Forgings Limited

23 n h +asis o( wrin r

rsnaions ri d (ro h dirors as on Marh 
"" a
n on rord +y h Board o( 1irors non o( h dirors is dis8uai(id
as on Marh  "" (ro +in# a

oind as a diror in rs o( sion $

2"3 o( h .

2(3 *ih rs

 o h ad8uay o( h inrna (inania onros o r (inania r
orin#
o( h Co
any and h o
rain# ((i nss o( suh onros r(r o our
s
ara 
orin <nn6ur :. ur r
or 6
rsss an unodi(id o
inion on h
ad8uay and o
rain# ((i nss o( h Co
any5s inrna (inania onros
o r (inania r
orin#.

2#3 *ih rs

 o h ohr ars o + inudd in h udior5s 
or in aordan
wih u  o( h Co
anis 2udi and udiors3 us " in our o
inion and
o h +s o( our in(oraion and aordin# o h 6
anaions #i n o us

i. !h Co
any has disosd h i
a o(
ndin# ii#aions on is (inania

osiion in is sandaon ,nd  (inania sans > (r o h
sandaon ,nd  (inania sansF

ii. !h Co

any did no ha  any on#r onras inudin# dri ai  onras
(or whih hr wr any aria (orsa+ osssF

iii. !hr has +n no day in rans(rrin# aouns and 8uiy shars r8uird o
+ rans(rrd o h ,n sor %duaion and roion 'und +y h Co
any.
". s r8uird +y h Co
anis 2udior5s 
or3 rdr "$ 2<h rdr:3 issud +y h
Cnra o rnn in rs o( ion 23 o( h  w #i  in <nn6ur B: a
san on h ars s
i(id in
ara#ra
hs  and  o( h rdr.

F AIN . ASSOIATES

&KDUWHUHG$FFRXQWDQWV
5HJG1R1

/RISAN MANGA0A
'DWH 

3ODFH&+$1',*$5+ 0HPEHUVKLS1R
8',1$$$$.9


 Samrat Forgings Limited

* ha  audid h inrna (inania onros o r (inania r

orin# o(
2<h Co
any:3 as o( Marh  "" in onunion wih our audi o( h
sandaon (inania sans o( h Co
any (or h yar ndd on ha da.

!h Board o( 1irors o( h Co

any is rs
onsi+ (or sa+ishin# and ainainin# inrna
(inania onros +asd on h inrna onro o r (inania r
orin# riria sa+ishd +y
h Co
any onsidrin# h ssnia o
onns o( inrna onro sad in h uidan
o on udi o( ,nrna 'inania Conros  r 'inania 
orin# issud +y h ,nsiu o(
Charrd ounans o( ,ndia. !hs rs
onsi+iiis inud h dsi#n i
naion and
ainnan o( ad8ua inrna (inania onros ha wr o
rain# ((i y (or nsurin#
h ordry and ((iin ondu o( is +usinss inudin# adhrn o rs
i  o
any5s

oiis h sa(#uardin# o( is asss h

r nion and dion o( (rauds and rrors h
auray and o
nss o( h aounin# rords and h iy
r
araion o( ria+
(inania in(oraion as r8uird undr h Co
anis  ".

ur rs
onsi+iiy is o 6
rss an o
inion on h Co
any5s inrna (inania onros o r
(inania r
orin# +asd on our audi. * ondud our audi in aordan wih h uidan
o on udi o( ,nrna 'inania Conros  r 'inania 
orin# 2h <uidan o:3 and
h andards on udiin# as s
i(id undr sion 23 o( h Co
anis  " o
h 6n a

ia+ o an audi o( inrna (inania onros +oh a

ia+ o an audi o(
,nrna 'inania Conros and +oh issud +y h ,nsiu o( Charrd ounans o( ,ndia.
!hos andards and h uidan o r8uir ha w o
y wih hia r8uirns and

an and
r(or h audi o o+ain rasona+ assuran a+ou whhr ad8ua inrna
(inania onros o r (inania r
orin# was sa+ishd and ainaind and i( suh onros
o
rad ((i y in a aria rs
s.
ur audi in o s
r(orin#
rodurs o o+ain audi  idn a+ou h ad8uay o( h
inrna (inania onros sys o r (inania r
orin# and hir o
rain# ((i nss. ur
audi o( inrna (inania onros o r (inania r
orin# inudd o+ainin# an undrsandin#
o( inrna (inania onros o r (inania r
orin# assssin# h ris
ha a aria wa
nss
6iss and sin# and  auain# h dsi#n and o
rain# ((i nss o( inrna onro
+asd on h assssd ris
. !h
rodurs sd d
nd on h audior5s ud#n
inudin# h assssn o( h ris
s o( aria issan o( h sandaon ,nd  (inania
sans whhr du o (raud or rror.
* +i  ha h audi  idn w ha  o+aind is su((iin and a

ro
ria o
ro id a
+asis (or our audi o
inion on h inrna (inania onros sys o r (inania r
orin#.

 o
any5s inrna (inania onro o r (inania r
orin# is a
ross dsi#nd o
ro id
rasona+ assuran r#ardin# h ria+iiy o( (inania r
orin# and h
r
araion o(
(inania sans (or 6rna
ur
oss in aordan wih #nray a
d aounin#

rini
s.  o
any5s inrna (inania onro o r (inania r
orin# inuds hos
oiis
and
rodurs ha 23
rain o h ainnan o( rords ha in rasona+ dai
auray and (airy r( h ransaions and dis
osiions o( h asss o( h o
anyF 2"3

ro id rasona+ assuran ha ransaions ar rordd as nssary o

ri
r
araion
o( (inania sans in aordan wih #nray a
d aounin#
rini
s and ha


 Samrat Forgings Limited

ri
s and 6
ndiurs o( h o
any ar +in# ad ony in aordan wih auhorisaions
o( ana#n and dirors o( h o
anyF and 23
ro id rasona+ assuran r#ardin#

r nion or iy dion o( unauhorisd a8uisiion us or dis

osiion o( h o
any5s
asss ha oud ha  a aria (( on h (inania sans.

Baus o( h inhrn iiaions o( inrna (inania onros o r (inania r

orin#
inudin# h
ossi+iiy o( ousion or i
ro
r ana#n o rrid o( onros aria
issans du o rror or (raud ay our and no + dd. so
roions o( any
 auaion o( h inrna (inania onros o r (inania r
orin# o (uur
riods ar su+
o h ris
ha h inrna (inania onro o r (inania r
orin# ay +o inad8ua
+aus o( han#s in ondiions or ha h d#r o( o
ian wih h
oiis or

rodurs ay driora.

,n our o
inion and o h +s o( our in(oraion and aordin# o h 6
anaions #i n o
us h Co
anyhas in a aria rs
s an ad8ua inrna (inania onros sys
o r (inania r
orin# and suh inrna (inania onros o r (inania r
orin# wr
o
rain# ((i y as a Marh "" +asd on h inrna onro o r (inania r
orin#
riria sa+ishd +y h rs
i  o
anis onsidrin# h ssnia o
onns o(
inrna onro sad in h uidan o on udi o( ,nrna 'inania Conros  r
'inania 
orin# issud +y h ,nsiu o( Charrd ounans o( ,ndia.

F AIN . ASSOIATES

&KDUWHUHG$FFRXQWDQWV
5HJG1R1

/RISAN MANGA0A
'DWH 

3ODFH&+$1',*$5+ 0HPEHUVKLS1R
8',1$$$$.9


 Samrat Forgings Limited

i. ,n rs
 o( h Co
any5s (i6d asss
a3 !h Co
any has ainaind
ro
r rords showin# (u
ariuars inudin#
8uaniai  dais and siuaion o(
ro
ry
an and 8ui
n.
+3 ordin# o in(oraion and 6
anaions #i n +y h ana#n h o
any
has a
ro#ra o(
hysia ri(iaion o(
ro
ry
an and 8ui
n o o r a
h is in a
hasd annr o r a
riod o( hr yars. ,n aordan wih his

ro#ra rain
ro
ry
an and 8ui
n wr
hysiay ri(id +y h
Mana#n durin# h yar and no aria disr
anis wr noid on suh
ri(iaion. ,n our o
inion his
riodiiy o(
hysia ri(iaion is rasona+
ha in# r#ard o h si; o( h Co
any and h naur o( is asss.
3 ordin# o in(oraion and 6
anaions #i n +y h ana#n h i dds
o( io a+
ro
ris inudd in (i6d asss ar hd in h na o( h
Co
any.
ii. s 6
aind o us h in noriswr
hysiay ri(id durin# h yar +y h
ana#n a rasona+ inr as and no aria disr
anis wr noid on
hysia
ri(iaion.
iii. ordin# o in(oraion and 6
anaions #i n o us h Co
any has no #rand
oans surd or unsurd durin# h yar o o
anis (irs iid ia+iiy
arnrshi
s or ohr
aris o rd in h r#isr ainaind undr sion  o( h
Co
anis  " and hn r
orin# undr aordin#y
ara#ra
h  2iii3 o( h
rdr is no a

ia+.
i . ,n our o
inion and aordin# o h in(oraion and 6
anaions #i n o us h
Co
any has o
id wih h
ro isions o( sion  and $ o( h  in rs

o( oans in sns #uarans and suriy ad.
. !h Co
any has no a
d any d
osis wihin h anin# o( ions  o $
o( h  and h Co
anis 2
an o( 1
osis3 us " 2as andd3.
ordin#y h
ro isions o( aus 2 3 o( h rdr ar no a

ia+.
i. !h Co
any is r8uird o ainain os rords undr sion 23 o( h Co
a
nis  " (or h
rodus o( h o
any and aordin#y ainainin# h os
rords.
ii. ordin# o in(oraion and 6
anaions #i n o us in rs
 o( auory 1usF
2a3 !h Co
any is r#uar in d
osiin# wih a

ro
ria auhoriis undis
ud
sauory dus inudin#
ro idn (und inoa6 sasa6 sr i a6 usos
duy 6is duy au addd a6 ss and ohr aria sauory dus a

ia+
o i hou#h hr ha  +n si#h days in (w ass.
2+3 !hr wr no undis
ud aouns
aya+ in rs
 o(
ro idn (und ino
a6 oods and r is !a6 sr i a6 sasa6 duy o( uso duy o( 6is
au addd a6 ss and ohr aria sauory dus wr ousandin# a h yar
nd (or a
riod o( or han si6 onhs (ro h da hy +a
aya+.
23 ordin# o h rords o( h Co
any hr ar no dus ousandin# on aoun
o( inoa6 oods and r is !a6 sasa6 sr i a6 duy o( uso duy
o( 6is au addd a6 and ss.


 Samrat Forgings Limited

iii. ,n our o
inion and aordin# o h in(oraion and 6
anaions #i n +y h ana#
n h Co
any has no d(aud in r
ayn o( oans or +orrowin# o a (inania
insiuion +an
or o rnn. !h Co
any did no ha any ousandin# d+nurs
durin# h yar.
i6. ,n our o
inion and aordin# o h in(oraion and 6
anaions #i n o us h
Co
any did no rais any ony +y way o( iniia
u+i o((r or (urhr
u+i o((r
2inudin# d+ insruns3. !h r oans a aid +y h o
any durin# h yar
ha  +n a

id (or h

ur
os (or whih i has +n a aid.
6. ordin# o h in(oraion and 6
anaions #i n +y h ana#n w r
or ha
no (raud +y h Co
any or no (raud on h Co
any +y h o((irs and 
oys
o( h Co
any has +n noid or r
ord durin# h yar.
6i. ordin# o h in(oraion and 6
anaions #i  o us and +asd on our 6ainaion
o( h rords o( h Co
any h Co
any has
aid
ro idd ana#ria runra
ion wihin iis undr sion  rad wih hdu 0 o h .
6ii. ,n our o
inion h Co
any is no a idhi o
any. !hr(or h
ro isions o( aus
26ii3 o( h rdr ar no a

ia+ o h Co

any and hn no ond u
on.
6iii. ordin# o h in(oraion and 6
anaions #i n o us and +asd on our 6ainaion
o( h rords o( h Co
any ransaions wih h rad
aris ar in o
ian
wih sions  and  o( h  whr a

ia+ and dais o( suh ransaions

ha  +n disosd in h sandaon ,nd  (inania sans as r8uird +y h
a

ia+ aounin# sandards.

6i . ordin# o h in(oraion and 6
anaions #i n o us h Co
any has no issud
shars undr
r(rnia aon durin# h yar. !hr(or h
ro isions o( aus
26i 3 o( h rdr ar no a

ia+ o h Co

any and hn no ond u
on.
6 . ordin# o h in(oraion and 6
anaions #i n o us and +asd on our 6ainaion
o( h rords o( h Co
any h Co
any has no nrd ino nonash ransaions
wih dirors or
rsons onnd wih hi. ordin#y
ara#ra
h 26 3 o( h rdr
is no a

ia+.
6 i. !h Co
any is no r8uird o + r#isrd undr sion  , o( h sr  Ban

o( ,ndia   and aordin#y h
ro isions o( aus  26 i3 o( h rdr ar no
a

ia+ o h Co

any.

F AIN . ASSOIATES

&KDUWHUHG$FFRXQWDQWV
5HJG1R1

/RISAN MANGA0A
'DWH 

3ODFH&+$1',*$5+ 0HPEHUVKLS1R
8',1$$$$.9


 Samrat Forgings Limited

2oun in s.3

ross Bo
$ "$"

ss  1
riaion """" "
ro
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ia *or
in ro#rss  
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hr non urrn asss  

,n noris " "

'inania asss
2i3 !rad ri a+s """$ $"
2ii3 Cash  Cash %8ui ans ""$$ $
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hr urrn asss $$ "

%8uiy har Ca
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hr %8uiy " "

'inania ia+iiis

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2ii3 as ia+iiis "$" "$"$
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2i3 Borrowin#s "$ """$
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riss
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hr o
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 ,no a6 rain# o is ha wi no +  
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rassi(id o
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" 

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Chi( 'inania ((ir Co
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 Samrat Forgings Limited

2oun in s.3

Year Ended Year Ended

 

 
C S
 O O OE T N
 CT  T ES
T        !"#
$%&STENTS TO ECONC E O T 'EOE T (
TO NET C S
 O $E$ ') OE T N
 CT  T ES
INCOME TAX CHARGED IN PROFIT AND LOSS A/C 7,595,397 2,660,427
DEPRECIATION AND AMORTI ATION 29,647,360 29,
42,675
FINANCE COSTS 56,04,90 54,759,357
LOSS/PROFIT ON SALE OF FIXED ASSETS  54,963
INTEREST INCOME RECEIED ,537,
59 ,665,067
OE T N
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 C  T  C
N
ES ##+!,+, "#+!,
C
N
ES N OE T N
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TRADE RECEIALES 9
,732,924 4,752,65
OTHER RECEIALES 7,367,562 9,735
INENTOR 29,65
,907 7,395,62
PROISIONS 55,
99 ,620,630
TRADE AND OTHER PAALES 62,963,3 20,304,760
C S

ENE TE$ O OE T ONS "!+,  + " "
INCOME TAX PAID NET 493,456 2,620,
4

NET C S
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C S
 O O NEST N
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NET P RCHASE OF FIXED ASSETS 5,467,0
4 49,3

,9


CHANGE IN CAPITAL
IP  2,
75,002
CHANGE IN INESTMENTS  
INTEREST INCOME RECEIED ,537,
59 ,665,067
NET C S
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C S
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PROCEEDS FROM LONGTERM ORRO
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any.

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ro(i2oss3 on anaion o( (or(id shars o( h Co
any.

aind arnin#s is h aoun o( n ino raind +y h Co

any a(r i has
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ny3 o is sharhodrs.

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an asss rurn on
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 Samrat Forgings Limited

ara 'or#in#s iid 2<Co

any:3 is
u+i iid o
any doiid in ,ndia and
is isd on h Bo+ay o
%6han# iid 2B%3. !h Co
any on o( h ar#s
su

irs o( 8uaiy (or#in#s in h ounry. * ar ardid wih 1" Mr
+a *
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has hi#hy so
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d in h
r
araion
o( hs (inania sans. !hs
oiis ha  +n onsisny a

id o a h
yars
rsnd unss ohrwis sad.

!h sandaon (inania sans o( h Co

any ha  +n
r
ard in aordan
wih,ndian ounin# andards 2,nd 3 as
rsri+d undr ion  o( h
Co
anis  " rad wih u  o( h Co
anis 2,ndian ounin# andards3
us " and r an andn rus issud hra(r.

!h sandaon (inania sans ha  +n

r
ard on a hisoria os on nion
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 (or h (oowin# aria is ha ha  +n asurd a (air
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Co
any5s o
rain# y and ohr riria s ou in h hdu ,,, o h
Co
anis  ". Basd on h naur o( sr is and h i +wn h
rndrin# o( sr i and hir rai;aion in ash and ash 8ui ans h Co
any
has asraind is o
rain# y as w  onhs (or h
ur
os o( urrn and
nonurrn assi(iaion o( asss and ia+iiis.

!h
r
araion o( sandaon (inania sans in on(oriy wih ,nd  r8uirs h
Mana#n o a
 sia and assu
ions ha a(( h r
ord aoun o( asss
and ia+iiis as a h Baan h da r
ord aoun o( r nu and 6
nss
(or h yar and disosurs o( onin#n ia+iiis as a h Baan h da. !h
sias and assu
ions usd in h ao
anyin# (inania sans ar +asd
u
on h Mana#n5s  auaion o( h r an (as and irusans as a h da
o( h (inania sans. ua rsus oud di((r (ro hs sias. %sias and
undryin# assu
ions ar r iwd on a
riodi +asis.  isions o aounin#
sias i( any ar ro#ni;d in h yar in whih h sias ar r isd and in
any (uur yars i( h r ision ((s suh
riods.
so
y sours o( siaion unrainy is niond +ow
i sefu ies of ro erty, ant an
eui ment an
intangie assets
s dsri+d in h si#ni(ian aounin#
oiy h Co
any r iws h siad
us(u i s o(
ro
ry
an and 8ui
n and inan#i+ asss a h nd o( ah
r
orin#
riod.


 Samrat Forgings Limited

ii e fair aue measurements an
auation rocesses

o o( h Co
any5s asss and ia+iiis ar asurd a (air au (or (inania
r
orin#
ur
oss. ,n siain# h (air au o( an ass or ia+iiy h Co
any uss
ar
o+sr a+ daa o h 6n i is a aia+. *hr    in
u ar no a aia+
h Co
any n#a#s hird
ary aurs whr r8uird o
r(or h auaion.
,n(oraion a+ou h auaion hni8us and in
us usd in drinin# h (air au
o( arious asss ia+iiis ar disosd in noso sandaon (inania sans.
iii Actuaria auation
!h drinaion o( Co
any5s ia+iiy owards d(ind +n(i o+i#aion o
oys
is ad hrou#h ind
ndn auaria auaion inudin# drinaion o( aouns o
+ ro#ni;d in h san o(
ro(i or oss and in ohr o
rhnsi  ino. uh
auaion d
nd u
on assu
ions drind a(r a
in# ino aoun in(aion
snioriy
rooion and ohr r an (aors suh as su

y and dand (aors in h


oyn ar
. ,n(oraion a+ou suh auaion is
ro idd in nos o sandaon
(inania sans.

ro
ry
an and 8ui
n ar sad a os o( a8uisiion ss auuad d
r
iaion and auuad i
airn osss i( any. 1ir oss ar a
iai;d uni h
asss ar rady (or us and inud inward (ri#h and 6
nss inidna o a8ui
siion and insaaion. u+s8un 6
ndiurs rad o an i o( ro
ry
an and
8ui
n ar addd o is +oo
au ony i( hy inras h (uur +n(is (ro h
6isin# ass +yond is
r iousy assssd sandard o(
r(oran.
e reciation meto
s, estimate
usefu ies
1
riaion on ro
ry
an and 8ui
n is
ro idd whn h asss ar rady (or
us on hsrai#h in hod on a
ro raa +asis o r h siad us(u i s o(
asss in ordr o r( h
riod o r whih h d
ria+ ass is 6
d o +
usd +y h Co
any. 1
riaion on addiion o
ro
ry
an and 8ui
n is

ro idd on
roraa +asis (ro h da o( a8uisiion. 1
riaion on sadduion
(ro
ro
ry
an and 8ui
n is
ro idd u
o h da
rdin# h da o( sa
dduion as h as ay +. osss arisin# (ro h rirn o( and #ains or osss
arisin# (ro dis
osa o( ro
ry
an and 8ui
n asurdas h di((rn
+wn aoun rai;d and n arryin# au whih ar arrid a os ar ro#ni;d
in h an o( ro(i and oss. undr Ahr ,no hr %6
nss5. 1
riaion
hods us(u i s and rsidua aus ar r iwd
riodiay a ah (inania yar
nd and adusd
ros
i y as han# in aounin# sias.

 ah Baan h da h Co

any asssss whhr hr is any indiaion ha
an ass ay + i
aird. ,( any suh indiaion 6iss ana#n sias h
ro ra+ aoun. o ra+ aoun is hi#hr o( an ass5s n sin#
ri and
au in us. 0au in us is h
rsn au o( siad (uur ash (ows 6
d
o aris (ro h oninuin# us o( an ass and (ro is dis
osa a h nd o( is us(u
i(. ,( h arryin# aoun o( h ass 6ds is ro ra+ aoun an i
airn
oss is ro#ni;d in h ro(i and oss an o h 6n arryin# aoun 6ds
ro ra+ aoun. ssssn is aso don a ah Baan sh da as o whhr
hr is any indiaion ha an i
airn oss ro#ni;d (or an ass in
rior aounin#

riods ay no on#r 6iss or ay ha  drasd.


 Samrat Forgings Limited

!h undisound aoun o( shor r 

oy +n(is 6
d o +
aid in
6han# (or hsr is rndrd +y 
oys is ro#ni;d in h yar durin# whih
h 
oy rndrd h sr is. !hs +n(is o
ris o
nsad a+sns
suh as
aid annua a  and
r(oran inni s.

ratuity !h Co

any has d(ind +n(i
ans (or
os 
oyn +n(is inh
(or o( #rauiy (or is 
oys in ,ndia. !h #rauiy sh o( h Co
any is
adinisrd hrou#h i( ,nsuran Cor
oraion o( ,ndia 2 ,C3. ia+iiy (or d(ind
+n(i
ans is
ro idd on h +asis o( auaria auaions as a h Baan h
da arrid ou +y an ind
ndn auary. !h auaria auaion hod usd +y
ind
ndn auary (or asurin# h ia+iiy is h
rod uni rdi hod.
uaria #ains and osss ar ro#ni;d idiay in h hr Co
rhnsi 
,no 2C,3 as ino or 6
ns 2n o( a6s3.
om ensate
asences !h 
oys o( h Co
any ar aso nid (or ohr
on#r +n(i in h (or o( o
nsad a+sns as
r h
oiy o( h Co
any.
a  nashn ss wih 
oys on an annua +asis (or a  +aan a+o 
h u

r ii as
r h Co
any5s
oiy.  h i o( rirn dah whi in

oyn or on rinaion o( 
oyn a  nashn ss 8ui an o
saary
aya+ (or nu+r o( days o( auuad a  +aan su+ o an u

r ii
as
r h Co
any5s
oiy. ia+iiy (or suh +n(i is
ro idd on h+asis o( auaria
auaion as a h Baan hda arrid ou +y an ind
ndn auary. !h
auaria auaion hod usd +y ind
ndn auary (or asurin# h ia+iiy is h

rod uni rdi hod. uaria #ains and osss ar ro#ni;d idiay in
h ro(i and oss an as ino or 6
ns.

!h Co
any has d(ind onri+uion
ans (or
os 
oyn +n(is in h (or
o(
ro idn (und 
oys5 sa insuran and a+our *(ar 'und whih ar
adinisrd hrou#h o rnn o( ,ndia andor i( ,nsuran Cor
oraion o( ,ndia
2 ,C3.

!h Co
any asurs (inania insruns suh as in sns a (air au a ah
Baan h da. 'air au is h
ri ha woud + ri d o s an ass or
aid
o rans(r a ia+iiy in an ordry ransaion +wn ar

arii
ans a h
asurn da. !h (air au asurn is +asd on h
rsu
ion ha h
ransaion o s h ass or rans(r h ia+iiy a
s
a ihr
l ,n h
rini
a ar
 (or h ass or ia+iiy or
l ,n h a+sn o( a
rini
a ar
 in h os ad ana#ous ar
 (or h ass
or ia+iiy assi+ o h Co
any.
 asss and ia+iiis (or whih (air au is asurd or disosd in h sandaon
(inania sans ar a#ori;d wihin h (air au hirarhy dsri+d as (oows
+asd on h ows   in
u ha is si#ni(ian o h (air au asurn as a
who
l    G ?uod 2unadusd3 ar

ris in ai  ar
s (or idnia asss or
ia+iiis


 Samrat Forgings Limited

l   " G 0auaion hni8us (or whih h ows   in

u ha is si#ni(ian o
h (air au asurn is diry or indiry o+sr a+
l    G 0auaion hni8us (or whih h ows   in
u ha is si#ni(ian o
h (air au asurn is uno+sr a+.
!h ana#n drins h
oiis and
rodurs (or +oh rurrin# (air au
asurnand disosur. 'or h
ur
os o( (air au disosurs h Co
any has
drind asss o( asss and ia+iiis on h +asis o( h naur hararisis and
ris
s o( h ass or ia+iiy and h   o( h (air au hirarhy as 6
aind a+o .

!a6 6
ns (or h yar o
riss o( urrn a6 and d(rrd a6. Currn a6 is
asurd +y h aoun o( a6 6
d o +
aid o h a6aion auhoriis on h
a6a+
ro(is a(r onsidrin# a6 aowans and 6
ions and usin# a

ia+ a6
ras and aws.

Currn ino a6 rain# o is ro#ni;d ousid

ro(i or oss is ro#ni;d
ousid
ro(i or oss 2ihr in ohr o
rhnsi  ino or in 8uiy3. Currn a6
is ar ro#ni;d in orraion o h undryin# ransaion ihr in C, or diry
in 8uiy. Mana#n
riodiay  auas
osiions a
n in h a6 rurns wih
rs
 o siuaions in whih a

ia+ a6 r#uaions ar su+ o inr

raion and
sa+ishs
ro isions whr a

ro
ria. d an a6s and
ro isions (or urrn
ino a6s ar
rsnd in h +aan sh a(r o((sin# ad an a6
aid.
Currn a6 asss and ia+iiis ar o((s whn hr is a #ay n(ora+ ri#h o
s o(( h ro#ni;d aoun and hr is an innion o s h ass and ia+iiy
on a n +asis.

1(rrd ino a6 is ro#ni;d usin# h +aan sh a

roah. 1(rrd ino

a6 asss and ia+iiis ar ro#ni;d (or ddui+ and a6a+ 
orary di((rns
arisin# +wn h a6 +as o( asss and ia+iiis and hir arryin# aoun 6

whn h d(rrd ino a6 ariss (ro h iniia ro#niion o( an ass or ia+iiy
in a ransaion ha is no a +usinss o+inaion and a((s nihr aounin# nor
a6a+
ro(i or oss a h i o( h ransaion. 1(rrd ino a6 asss ar
ro#ni;d o h 6n ha i is
ro+a+ ha a6a+
ro(i wi + a aia+ a#ains
whih h ddui+ 
orary di((rns and h arry (orward o( unusd a6 rdis
and unusd a6 osss an + uii;d.
!h arryin# aoun o( d(rrd ino a6 asss is r iwd a ah r
orin# da
and rdud o h 6n ha i is no on#r
ro+a+ ha su((iin a6a+
ro(i wi
+ a aia+ o aow a or
ar o( h d(rrd ino a6 ass o + uii;d. 1(rrd
a6 asss and ia+iiis ar asurd usin# su+sani y nad a6 ras 6
d
o a

y o a6a+ ino in h yars in whih h 

orary di((rns ar 6
d
o + ri d or sd.
Miniu rnai  !a6 2M!3 rdi is ro#ni;d as an ass ony whn and o h
6n hr is on inin#  idn ha h Co
any wi
ay nora ino a6 durin#
h s
i(id
riod. uh ass is r iwd a ah +aan sh da and h arryin#
aoun o( h M! rdi ass is wrin down o h 6n hir is no on#r on inin#
 idn o h (( ha h Co
any wi
ay nora ino a6 durin# h s
i(id

riod.
1(rrd a6 asss and ia+iiis ar o((s whn hr is a #ay n(ora+ ri#h o
s o(( asss a#ains ia+iiis r
rsnin# h urrn a6 and whr h d(rrd a6
asss and ia+iiis ra o a6s on ino  id +y h sa #o rnin# a6aion
aws.


 Samrat Forgings Limited

!h Co
any onsidrs a hi#hy i8uid (inania insruns whih ar radiy on r
i+ ino
nown aouns o( ash ha ar su+ o an insi#ni(ian ris
o( han# in
au and ha in# ori#ina auriis o( hr onhs or ss (ro h da o(
urhas
o + ash 8ui ans. Cash and ash 8ui ans onsis o( +aans wih +an
s whih
ar unrsrid (or wihdrawa and usa#.


ro ision is ro#ni;d whn h Co
any has a
rsn o+i#aion as a rsu o(
as
 n and i is
ro+a+ ha an ou(ow o( rsours wi + r8uird o s h
o+i#aion in rs
 o( whih a ria+ sia an + ad. !hs ar r iwd a
ah +aan sh da and adusd o r( h urrn +s sias.

,( h (( o( h i au o( ony is aria

ro isions ar disound usin# a
urrn
ra6 ra ha r(s whn a

ro
ria h ris
s s
i(i o h ia+iiy. *hn
disounin# is usd h inras in h
ro ision du o h
assa# o( i is
ro#ni;d as a (inan os.

Conin#n ia+iiis ar disosd whn hr is a

ossi+ o+i#aion arisin# (ro
as
 ns h6isn o( whih wi + on(ird ony +y h ourrn or nonour
rn o( on or or unrain (uur  ns no whoy wihin h onro o( h Co
any
or a
rsn o+i#aion ha ariss (ro
as  ns whr i is ihr no
ro+a+ ha
an ou(ow o( rsours wi + r8uird o s h o+i#aion or a ria+ sia o(
h aoun anno + ad. Conin#n asss ar nihr ro#ni;d nor disosd in
h sandaon (inania sans.

 onin#n ia+iiy ro#ni;d in a +usinss o+inaion is iniiay asurd a is (air
au. u+s8uny i is asurd a h hi#hr o( h aoun ha woud + ro#ni;d
in aordan wih h r8uirns (or
ro isions a+o  or h aoun iniiay ro#
ni;d ss whn a

ro
ria uuai  aori;aion ro#ni;d in aordan wih h
r8uirns (or r nu ro#niion.

 (inania insruns ar ro#ni;d iniiay a (air au. !ransaion oss ha ar
ari+ua+ o h a8uisiion o( h (inania ass 2ohr han (inania asss rordd
a (air au hrou#h
ro(i or oss3 ar inudd in h (air au o( h (inania asss.
urhas or sas o( (inania asss ha r8uir di ry o( asss wihin a i (ra
sa+ishd +y r#uaion or on nion in h ar

a 2r#uar way rad3 ar
ro#ni;d on rad da. *hi oans and +orrowin#s and
aya+s ar ro#ni;d n
o( diry ari+ua+ ransaion oss.

'or h
ur
os o( su+s8un asurn (inania insruns o( h Co
any ar
assi(id in h (oowin# a#oris non dri ai  (inania asss o
risin# aor
i;d os d+ insruns a (air au hrou#h ohr o
rhnsi  ino 2'0!C,3
8uiy insruns a '0!C, or (air au hrou#h
ro(i and oss aoun 2'0! 3 and
non dri ai  (inania ia+iiis a aori;d os or '0! .!h assi(iaion o(
(inania insruns d
nds on h o+i  o( h +usinss od (or whih i is hd.
Mana#n drins h assi(iaion o( is (inania insruns a iniia ro#ni
ion.


 Samrat Forgings Limited

i inancia assets at amortie
cost

 (inania ass is asurd a aori;d os i( +oh o( h (oowin# ondiions ar
2a3 h (inania ass is hd wihin a +usinss od whos o+i  is o hod (inania
asss in ordr o o onraua ash (ows and
2+3 h onraua rs o( h (inania ass #i  ris on s
i(id das o ash (ows
ha ar soy
ayns o(
rini
a and inrs 2,3 on h
rini
a aoun
ousandin#. !hy ar
rsnd as urrn asss 6
 (or hos aurin# ar han
" onhs a(r h r
orin# da whih ar
rsnd as nonurrn asss.
'inania asss ar asurd iniiay a (air au
us ransaion oss and su+s
8uny arrid a aori;d os usin# h ((i  inrs hod ss any i
airn
oss. ori;d os ar r
rsnd +y rad ri a+s suriy d
osis ash and
ash 8ui ans 
oy and ohr ad ans and i#i+ urrn and nonurrn
asss.
ii inancia assets at 
'0! is a rsidua a#ory (or (inania asss. ny (inania ass whih dos no 
h riria (or a#ori;aion as a aori;d os or as '0!C, is assi(id as '0! .,n
addiion h Co
any ay  o dsi#na h (inania ass whih ohrwis s
aori;d os or '0!C, riria as '0! i( doin# so iinas or si#ni(iany rdus
a asurn or ro#niion inonsisny. !h Co
any has no dsi#nad any
(inania ass as '0! .

i inancia iaiities at amortie
cost

'inania ia+iiis a aori;d os r
rsnd +y +orrowin#s rad and ohr
aya+s
ar iniiay ro#ni;d a (air au and su+s8uny arrid a aori;d os usin# h
((i  inrs ra hod.
ii inancia iaiities at 
'inania ia+iiis a '0! r
rsnd +y onin#n onsidraion 2i( any3 ar a
surd a (air au wih a han#s ro#ni;d in h san o(
ro(i and oss.

%8uiy shars ar assi(id as 8uiy shar a

ia. ,nrna oss diry ari+ua+
o h issu o( nw shars 2i( any3 ar shown in ohr 8uiy undr suriis
riu
as a dduion n o( a6 (ro h
rods.

Basi arnin#s
r shar 2%3 ar auad +y di idin# h n
ro(i  2oss3 a(r a6
(or h yar ari+ua+ o 8uiy sharhodrs +y h wi#hd a ra# nu+r o( 8uiy
shars ousandin# durin# h yar.
1iud arnin#s
r shar is o
ud +y adusin# h nu+r o( shars usd (or +asi
% wih h wi#hd a ra# nu+r o( shars ha oud ha  +n issud on h
on rsion o( a diui 
onia 8uiy shars.
1iui 
onia 8uiy shars ar dd on rd as o( h +#innin# o( h yar
unss hy ha  +n issud a a ar da. !h diud
onia 8uiy shars ha 
+n adusd (or h
rods ri a+ had h shars +n auay issud a (air
au i.. a ra# ar
 au o( ousandin# shars.


 Samrat Forgings Limited

!h nu+r o( shars and

oniay diui  shars ar adusd (or shar s
is and
+onus shars as a

ro
ria. ,n auain# diud arnin#s
r shar h ((s o(
ani diui 
onia 8uiy shars ar i#nord. onia 8uiy shars ar anidiui 
whn hir on rsion o 8uiy shars woud inras arnin#s
r shar or dras
oss
r shar.

 aouns disosd in sandaon (inania sans and nos ha  +n roundd
o(( o h nars a
hs as
rid in hdu ,,, o( h  unss ohrwis sad.

!h *ord /ah r#ani;aion annound a #o+a hah r#ny +aus o( a nw
srain o( orona irus 2<C0,1:3 and assi(id is ou+ra
as a
andi on Marh
 "". n Marh " "" h ,ndian #o rnn annound a sri "day
o
down aross h ounry o onain h s
rad o( h irus whih was (urhr
6ndd i May  "". !his
andi and #o rnn rs
ons arrain#
disru
ion in #o+a su

y hain and ad rsy i

ain# os o( h indusris whih
has rsud in #o+a sowdown.

!h Co
any do no (ors any ar# sa onraion in dand whih oud rsu
in si#ni(ian downsi;in# o( is 
oy +as rndrin# h
hysia in(rasruur
rdundan. ,n assssin# h ro ra+iiy o( % and C*, h Co
any has onsid
rd inrna and 6rna in(oraion u
o h da o( a

ro a o( hs sandaon

(inania san inudin# onoi (orass. !h Co
any has
r(ord snsii 
iy anaysis on h assu
ions usd and +asd on urrn indiaors o( (uur onoi
ondiions h Co
any 6
s o ro r h arryin# aoun o( hs asss. !h
Co
any has aso assssd h i
a o( his who siuaion on is a
ia and (inania
rsours
ro(ia+iiy i8uidiy
osiion inrna (inania r
orin# onros . and is
o( h iw ha +asd on is
rsn assssn his siuaion dos no ariay i
a
his andaon (inaniasan. /ow r h aua i
a o( C0,1 on h
Co
any5s sandaon (inania san ay di((r (ro ha siad and h
Co
any wi oninu o osy onior any aria han#s o (uur onoi
ondiions.

Minisry o( Cor
ora ((airs 2<MC:3 noi(is nw sandard or andns o h 6isin#
sandards. !hr is no suh noi(iaion whih woud ha  +n a

ia+ (ro 
ri
 "".


 Samrat Forgings Limited

s.3
2oun in


 Samrat Forgings Limited

2oun in s.3

-nsurd onsidrd #ood

"" $

aw Marias  """"

*or
,n ro#rss ""$$ "$$
'inishd oods "$ "
ors  
ars $ $$
!oos  1is "$ $$
ra
$" 

 reer noe on si
niian aonin
 poiies or he aaion o inenories

-nsurd Considrd ood """$ $"


 Samrat Forgings Limited

2oun in s.3

Cash  Cash %8ui ans

 Cash in /and $ 
Baan wih Ban
s
 in Currn ouns $ $"

'i6d 1
osis
Maurin# wihin " Monhs $ $"$

,nrs arud on d
osis $ 

3
d an o 0ndors  ""
uriy 1
osis  $"
r
aid 6
nss  $
Baan wih o rnn uhoriis  "
hrs "" 


 Samrat Forgings Limited

2oun in s.3

.
 %8uiy shars o( s.  ah  

 %8uiy hars o( s.  ah  "$"

'uy ad u
and
aid u
.  

"$" %8uiy hars o( s.  ah (or(id  $$"

i3 %ah harhodr is nid o on o

r shar.
ii3 %ah harhodr has h ri#h in
ro(isur
us in
ro
orion o aoun
aid u

wih rs
 o shar hodin#.
iii ,n h  n o( windin# u
 h 8uiy sharhodrs wi + nid o ri  h
rainin# +aan o( asss i( any in
ro
oriona o hir indi idua sharhodin#
in h
aid u
8uiy a
ia o( h o
any.

. andwani oy rodus   d $" $"

". uso
a %nr
riss  . d. " "
2'orry araan ,n sns  'inan   d3
. iya %nr
riss   d " "
2'orry ay 1 /odin#s   d3
. r a  
. a
sh M uar  

s a 
ri  "" 
s a Marh  "" 
H !hr is no han# in h nu+r o( shars ousandin# a h +#innin# and a
h nd o( h (inania yar.


 Samrat Forgings Limited

2oun in s.3

 

s r as Baan h $ "

 ro(i durin# h yar "" 
" $
$$" 

asurn o( 1(ind Bn(i +i#aion  

$$ $""
2urd a#ains /y
ohaion o(
rs
i  hi
undr hir
urhas a#rn  Mahinry

rsona #uaran o( dirors3
$" ""$
'ro onBan
in# 'inania Co
anis
2urd a#ains hy
ohaion o( rs
i 
Mahinry0hi and
rsona #uaran
o( dirors3

$"" $$
 "$

2!a
n (ro roors  1irors3

"" 
2#ains
rsona #uaran o( dirors3


 Samrat Forgings Limited

2oun in s.3

ro ision 'or %

oys Bn(i
 rauiy "$ $
 a  %nashn  $"

$"$ "$$"
 $
 "

"" $

!h au  ashir Ban
d 2Cash Crdi

(aiiy3 2urd a#ains hy
ohaion o( so

in rad Boo
1+s ors  
ars !oos
,
ns 1i Bo
s. 'urhrh a+o  oans
ar surd +y h (irs or#a# o( and Buid
in# and Mahinry o( h Co
any and
r
sona #uarans o( h rooor 1irors o(
h Co
any.3
" $
!h aiona a ,ndusris Cor
. d.
2urd a#ains Ban
#uaran3

"$ 

2!a
n (ro roors  1irors3


 Samrat Forgings Limited
2oun in s.3

i3 !oa ousandin# dus o( Miro and a "$ $$

a ,ndusria %nr
riss
ii3 !oa ousandin# dus o( Crdiors ohr
han Miro and a "$ ""$
a ,ndusria %nr
riss

rini
a aoun and inrs du hron
rainin# un
aid o any su

ir o rd
undr MM%1 
"$ $$
 

!h aoun o( inrs

aid +y h +uyr in rs
o( sion $ o( h MM%1  "$ aon# wih
h aouns o( h
ayn ad o h su

ir
+yond h a

oind day durin# ah aoun

in# yar
 
 

!h aoun o( inrs du and

aya+ (or h  

riod o( day in a
in#
ayn 2whih ha 
+n
aid +u +yond h a

oind day durin#

h yar3 +u wihou addin# h inrs s
i(id
undr MM%1 .

!h aoun o( inrs arud and rainin#  
un
aid a h nd o( ah aounin# yar.

!h aoun o( (urhr inrs rainin# du and  

aya+  n in h sudin# yars uni suh

da whn h inrs dus as a+o  ar auay

aid o h sa nr

ris (or h
ur
os o(
disaowan as a ddui+ 6
ndiur undr
sion " o( h MM%1  "$.


 Samrat Forgings Limited
2oun in s.3

%6
nss aya+ " "
Currn Mauriis o( on# !r 1+s "$ """"$
,nrs arud +u no du on +orrowin#s  
1iror unraion  '
aya+ $" $

Currn !a6 aya+ (or h yar " $"

ss  !a6 aid durin# h yar 2"$$3 23

auory 1us $ $""$

d an ri d (ro usors $" 

ross as """ $

Con rsiono+ *or
Char#s "" "

 $$$

Mis ,no " "

'ori#n 'uaion ain " 

"""" 
$$$ ""
ss Cosin# o
 """"


 Samrat Forgings Limited
2oun in s.3

*or
,n ro#rss "$$ "$$

'inishd oods " """$
ra
 $$
" $$

*or
,n ro#rss ""$$ "$$

'inishd oods o
"$ "
ra
$" 
" "

aaris  *a#s $$$ "$$

Conri+uion o ro idn 'und  hr 'unds $$ "
a(( *(ar $$ 
ro idn 'und  1irors " "$

,nrs on 'inania ia+iiis ohr " "

han as ia+iiis
,nrs on as ia+iiis 2 (r o "3 $ """

Ban
Char#s $ "

1
riaion o( !an#i+ sss 2 (r o 3 "" ""
1
riaion o( i#ho(us sss "$" "$"
2 (r o "3


 Samrat Forgings Limited
2oun in s.3

owr  'u " ""

!oos  1is Consud " 
ors  Consua+s $" "$
roduiono+ *or
%6
nss """ "

air  Mainnan Mahinry  $$

'ri#h  'orwardin# $" $$$

Businss rooion " "
+as  1isouns "$ "$$
 M 0his 2 C03 $$ ""
1 Char#s  $

!ra in#  Con yan

i3 1irors  $
ii3 hrs " "$
ro(ssiona  #a %6
nss "$$ $$
!
hon  osa# $ "
rinin#  aionary  $$""
unnin#  Mainnan0his $ ""$
 auaion o( uriy 1
osis  
Misanous %6
nss "$ "$

airs  Mainainan
 M  Buidin# ""$" $
 M  nra  "
u+sri
ion  M+rshi
' $ $
as '  !a6s  ""
,nsuran $ $$
udiors5 unraion
i3 udi '  
ii3 !a6 udi '  
iii3 !a6 Mars '  
i 3 Cri(iaion wor
'  
d risn " 
n "$ "
iin# ' "$ "
'ori#n 'uuaion oss  "
undry Baans *rin o(( " 


 Samrat Forgings Limited

!h Co
any has ado
d ,nd  $ ((i  s 
ri " usin# h odi(id
rros
i  hod. !h Co
any has a

id h sandard o is ass wih h

uuai  i
a ro#nisd on h da o( iniia a

iaion 2s 
ri "3.
ordin#y
r ious
riod in(oraion has no +n rsad.!his has rsud in
ro#nisin# a ri#ho(us ass o( ".$ as and a orrs
ondin# as ia+iiy o( h
sa aoun.

2oun in s.3


nin# Baan "$ 
ddiion on aoun o( !ransiion o
,nd  $  s 
ri "  "$
ddiions  
1is
osas  

uuad 1
riaion

nin# Baan "$" 
ddiions "$" "$"
1is
osas  


nin# Baan "" 
dd  ddiion on aoun o( !ransiion
o ,nd  $  s 
ri "  "$
dd  rion o( inrs $ """
ss  ayns  
ss  !rinaion  
"$"$ ""

$" $
"$" "$"$


 Samrat Forgings Limited

2oun in s.3

1
riaion 6
ns o( ri#ho(us asss "$" "$"
,nrs 6
ns on as ia+iiis $ """
%6
ns rain# o shorr ass and ow "$ "
au ass 2inudd in ohr 6
nss3

!h Co
any had oa ash ou(ows (or ass o( , .$ as in Marh  ""
!hr ar no nonash addiions o ri#ho(us asss and as ia+iiis .

!h auriy anaysis o( as ia+iiis +asd on onraua undisound
ayn is
as (oows

n 1and   
" onhs  
   yars $ $
Mor han  yars  "

 
oy +n(is
aya+ whoy wihin w  onhs o( rndrin# h sr i ar
assi(id as shorr 
oy +n(is. Bn(is suh as saaris wa#s . and h
6
d os o( 6#raia ar ro#nisd in h
riod in whih h 
oy rndrs
h rad sr i.  ia+iiy is ro#nisd (or h aoun 6
d o +
aid whn
hr is a
rsn #a or onsrui  o+i#aion o
ay his aoun as a rsu o(
as
sr i
ro idd +y h 
oy and h o+i#aion an + siad ria+y.

!h Co
any a
s onri+uions owards
ro idn (und o a d(ind onri+uion
rirn +n(i
an (or 8uai(yin# 
oys. -ndr h
an h Co
any is
r8uird o onri+u a s
i(id
rna# o(
ayro os o h +n(i
an o (und
h +n(is. Conri+uion
aid (or
ro idn (und ar ro#nisd as 6
ns (or h yar


 Samrat Forgings Limited

2oun in s.3

%
oyr5s onri+uion o
ro idn
(und
nsion sh $ 

!h 
oys5 #rauiy (und sh is a d(ind +n(i
an. !h
rsn au o( h
o+i#aion is drind +asd on auaria auaion usin# h
rod uni rdi
hod whih ro#niss ah yar o( sr i as #i in# ris o addiiona uni o(

oy +n(i nin and asurs ah uni s
aray o +uid u
h (ina
o+i#aion.
!h Co
any
ro ids (or #rauiy (or 
oys in ,ndia as
r h ayn o( rauiy
 " 2as andd3. %
oys who ar in oninuous sr i (or a
riod o( 
yars ar i#i+ (or #rauiy. !h aoun o( #rauiy
aya+ on rirnrinaion
is h 
oys as drawn +asi saary
r onh o
ud
ro
orionay (or 
days saary ui
id (or h nu+r o( yars o( sr i. !h #rauiy
an is a (undd

an and h Co

any a
s onri+uions o i( ,nsuran Cor
oraion2 ,C3.

!h os rn auaria auaion o(

an asss and h
rsn au o( h d(ind
+n(i o+i#aion (or #rauiy wr arrid ou as a Marh  "". !h
rsn au
o( h d(ind +n(i o+i#aions and h rad urrn sr i os and
as sr i
os wr asurd usin# h rod -ni Crdi Mhod.!h
an asss ar aso
ana#d +y h i( ,nsuran Cor
oraion 2 ,C3.

!h 
oys an arry(orward a
orion o( h unuiisd arud o
nsad
a+sns and uiis i in (uur sr i
riods or ri  ash o
nsaion on
rinaion o( 
oyn. in h o
nsad a+sns do no (a du whoy
wihin w  onhs a(r h nd o( h
riod in whih h 
oys rndr h
rad sr i and ar aso no 6
d o + uii;d whoy wihin w  onhs a(r
h nd o( suh
riod h +n(i is assi(id as a on#r 
oy +n(i.

!h o+i#aion in rs

 o( o
nsad a+sns is
ro idd on h +asis o( an
auaria auaion arrid ou+y an ind
ndn auary usin# h rod -ni Crdi
Mhod whih ro#ni;s ah
riod o( sr i as #i in# riso an addiiona uni o(

oy +n(i nin and asurs ah uni s
aray o +uid u
h (ina
o+i#aion. !ho+i#aion is asurd a h
rsn au o( siad (uur ash
(ows. !h disoun ras usd (or drinin# h
rsn au o( h o+i#aion undr
d(ind +n(i
an is +asd on h ar
 yids as a h +aan sh da on
o rnn suriis ha in# auriy
riods a

ro6iain# o h rs o( h rad

o+i#aions. uaria #ains and osss ar ro#ni;d in ohr o
rhnsi  ino
n o( a6s (or h
riod in whih hy our.
!o h 6n h Co
any dos no ha  an unondiiona ri#h o d(r h uii;aion
or nashn o( h auuad o
nsad a+sns h ia+iiy drind
+asd on auaria auaion is onsidrd o + a urrn ia+iiy.


 Samrat Forgings Limited

2oun in s.3

 Currn r i Cos  ""

" as r i Cos  

  ,nrs Cos  ""$

 uaria ain oss o( o+i#aions 23 

 uaria ain oss o( an sss  $

$ 1ir Bn(i ayns 2""3 2""3

 %6
d urn on an sss  2""$3

$ "

 urn on
an asss

26udin# aouns inudd in  inrs os3 " 

 %(( o( han#s in do#ra

hi assu
ions
 %(( o( han#s in (inania assu
ions  

" Chan#s in ass iin#26udin# inrs ino3  

 %(( o( 6
rin adusns 23 

2""3 "

" $


 Samrat Forgings Limited

, 1(ind Bn(i +i#aion ia+iiy 2oun in s.3

 rsn 0au o( 1B a h

+#innin# o( h yar "" 
" Currn r i Cos  ""
 as r i Cos  
 ,nrs Cos "$" 
 asurn #ains2osss3
a. %(( o( han#s in do#ra
hi assu
ions  
+. %(( o( han#s in (inania assu
ions  
. Chan#s in ass iin#  
26udin# inrs ino3
d. %(( o( 6
rin adusns 23 
$ Curain Cos 2Crdis3  
 n Cos 2Crdis3  
 ia+iiis assud in +usinss o+inaion  
 uaria ain oss on +i#aions 23 
 %(( o( rans(r n  2ou3  
 Bn(is aid 23 2$3
" "$ ""

 an sss a h +#innin# o( h yar "" 

" ss a8uird in Businss Co+inaion  
 ,nrs ,no  
 asurn ains 2 osss3 on
an asss 2"3 23
 ua Co
any Conri+uions Bn(is aid  "
$ Bn(is aid 2"$3 23
 %((s o( rans(r n2u3  
 an sss a h nd o( h yar $ ""


 Samrat Forgings Limited

2oun in s.3

rsn 0au o( 1(ind Bn(i "$ ""

+i#aions 2!oa ,3
'air 0au o( an sss 2!oa ,,3 $ ""

,nsuran 'und

Moraiy a+  ,C

1isoun ra $."E $."E

*ihdrawa a .E .E
%siad ra o( rurn on
an asss $."E $."E
%siad (uur saary #rowh .E .E

rauiy is a d(ind +n(i

an and o
any is 6
osd o h 'oowin# is
s
 (a in h disoun ra whih is in
d o h ..
a wi inras h
rsn au o( h ia+iiy r8uir
in# hi#hr
ro
orion.  (a in h disoun ra #nray
inrass h ar
o ar
 au o( h asss d
nd
in# on h duraion o( ass.
!h
rsn au o( h d(ind +n(i
an ia+iiy is
auad +y r(rn o h (uur saaris o( +rs.
s suh an inras in h saary o( h +rs or
han assud   wi inras h
an5s ia+iiy.
!h
rsn au o( h d(ind +n(i
an ia+iiy is
auad usin# a disoun ra whih is drind +y
r(rn o ar
 yids a h nd o( h r
orin#

riod on #o rnn +onds. ,( h rurn on
an ass
is +ow his ra i wi ra a
an d(ii. Currny
(or h
an in ,ndia i has a rai y +aand i6 o(
in sns in #o rnn suriis and ohr d+
insruns.
!h
an (as h  M ris
as o h ahin# ash (ow.
in h
an is in sd in ins o( u  o( ,no
!a6 us $" his #nray rdus  M is
.
in h +n(is undr h
an is no
aya+ (or i(
i and
aya+ i rirn a# ony
an dos no
ha  any on# iy ris
.
an is ha in# a onnraion ris
a h asss ar
in sd wih h insuran o
any and a d(au wi
wi
 ou a h asss. hou#h
ro+a+iiy o( his is ry
ss as insuran o
anis ha  o (oow r#uaory
#uidins.


 Samrat Forgings Limited

2oun in s.3

%siad au o( onras rainin#  

o + 6ud on Ca
ia
oun and no
ro idd (or

Cais a#ains o

anis no , ,
a
nowd#d as d+H
H ,nuds ais (ro r nu d
arns
and ohr ais
,n rs
 o( unassssd ass o( -ndrina+ -ndrina+
,no !a6 oods and r is
!a6 %6is 1uy  r i !a6

,n rs o( ,nd  $ on i
airn o( asss hr was no i
airn indiaors 6is
as o( r
orin# da as
r h inrna ana#n sias don and hn no
i
airn har# is ro#nisd durin# h yar undr r iw.

Basi % aouns ar auad +y di idin# h

ro(i (or h yar ari+ua+ o
8uiy hodrs o( h o
any +y wi#hd a ra# nu+r o( 8uiy shars ousand
in#durin# h yar.

ro(i ari+ua+ o h 8uiy "" 

hodrs o( h Co
any
*i#hd a ra# nu+r o( 8uiy shars  
Basi arnin#s
r shar . .
2'a au o( , 
r shar3

!h Co
any o
ras in in# s#n hn r8uirns o( ,nd   is no
a

ia+ o h sa.

!h
r ious yar (i#urs ha  +n ras r#rou
d whn r onsidrd nssary
o (aiia o
arison wih r isd hdu ,,,.


 Samrat Forgings Limited

!h Co
any5s o+i  (or a
ia ana#n is o a6iis sharhodr au
sa(#uard +usinss oninuiy and su

or h #rowh o( h Co

any. !h Co
any
drins h a
ia r8uirn +asd on annua o
rain#
an and ohr sra#i
in sn
ans. !h (undin# r8uirns ar
riariy  hrou#h 8uiy and o
r
ain# ash (ows #nrad. !h Co
any ais o ana# is a
ia ((iiny so as o
sa(#uard is a+iiy o oninu as a #oin# onrn and o o
iis rurns o a is
sharhodrs.

2oun in s.3
  F  , A  M $!( ! A  M $!( 
  
 , F  , 
 , F  ,

A F

  A
  M  A  


6HFXULW\'HSRVLWV $    

N


7UDGHUHFHLYDEOHV $    
&DVK &DVK(TXLYDOHQWV $    
2WKHU%DQN%DODQFHV $    
2WKHUILQDQFLDODVVHWV $    

T F

  A $7('!(6!$ $7('!(6!$ !$"(23(!$ !$"(23(!$

4 F

  L    
  M  A  


%RUURZLQJV $    
/HDVH/LDELOLWLHV $    

N


%RUURZLQJV $    
7UDGH3D\DEOHV $    
/HDVH/LDELOLWLHV $    
2WKHU)LQDQFLDO/LDELOLWLHV $    

T F

  L     6$'(7!"(!2$ 6$'(7!"(!2$ 323(!$'($' 323(!$'($'

8uod
ris 2unadusd3 in ai  ar
s (or idnia asss or ia+iiis
in
us ohr han 8uod
ris inudd in    ha ar o+sr a+ (or h
ass or ia+iiy ihr diry 2i.. as
ris3 or indiry 2i.. dri d (ro

ris3
in
us (or h ass or ia+iiy ha ar no +asd on o+sr a+ ar
 daa
2uno+sr a+ in
us3.


 Samrat Forgings Limited

!h ai iis o( h Co

any 6
os i o a nu+r o( (inania ris
s nay ar

ris
 rdi ris
and i8uidiy ris
. !h Co
any s
s o inii; h
onia i
a
o( un
rdia+iiy o( h (inania ar
s on is (inania
r(oran.

Mar
 ris
is h ris
ha h (air au or (uur ash (ows o( a (inania insrun
wi (uua +aus o( han#s in ar

ris. Mar
 ris
o
riss o( hr y
s
o( ris
s inrs ra ris

ri ris
and urrny ra ris
. 'inania insruns a((d
+y ar
 ris
inuds +orrowin#s in sns and dri ai  (inania insruns.

,nrs ra ris
is h ris
ha h (air au or (uur ash (ows o( a (inania
insrun wi (uua +aus o( han#s in ar
 inrs ras.

,n sns in unisd 8uiis and

r(rn shars ar sus
i+ o ar

ri
ris
 arisin# (ro han#s in a aia+iiy o( (uur (r ash (ow whih ay i
a h
rurn and au o( h in sns. !h Co
any has no suh in sns

Currny ris
is h ris
ha h (air au or (uur ash (ows o( a (inania insrun
wi (uua +aus o( han#s in (ori#n 6han# ras. !h Co
any has no
(ori#n urrny rad ri a+s and is hr(or no 6
osd o (ori#n 6han# ris
.

Crdi ris
is h ris
o( (inania oss o h Co

any i( a usor or ounr
ar o
a (inania insrun (ais o  is onraua o+i#aions and ariss
rini
ay (ro
h Co
any5s ri a+s (ro usors d
osis and oans #i n in sns and
+aans a +an
. !h Co
any asurs h 6
d rdi oss o( rad ri a+s
+asd on hisoria rnd indusry
rais and h +usinss n ironn in whih h
niy o
ras. %6
d rdi oss is +asd on aua rdi oss 6
rind and
as
rnds +asd on h hisoria daa.
!h Co
any dos no ha  any si#ni(ian onnraion o( rdi ris
.
!h a ra# rdi
riod on sas is  days. o inrs is har#d on o rdu rad
ri a+s.
!h ana#n has  auad ha hr wi + no rdi oss in rs
 o( !rad
i a+s.

i8uidiy ris
is h ris
ha h Co

any ay no + a+ o  is
rsn and (uur
ash o+i#aions wihou inurrin# una
a+ osss. !h Co
any5s o+i  is o
ainain a a is o
iu  s o( i8uidiy o  is o+i#aions. !h Co
any
osy oniors is i8uidiy
osiion and has a ro+us ash ana#n sys in

a.


 2oun in s.3

Currn !a6 on ro(is (or h 9ar $ 

dusns (or urrn a6 o(
rior yar  "

1(rrd !a6 Char#2,no3 2$3 "

ounin# ro(i B(or !a6  

 Brou#h 'orward !a6 osss  "

 %6
ns no aowd as
r ,no !a6   2$3
 hrs 23 

Mr. a
sh M. uar Mana#in# 1iror

Mrs. Bindu Chowdhary 1iror
Mrs. iu oshi 1iror
Mr. and
uar Co
any rary
HMr. ... ro r Chi( 'inania ((ir

una+ rrssd Conr *or
s   d.

andwani oy rodus ri a d.
iya %nr
riss   d 2'orry
nown as ay 1 /odin#s   d3
uso
a %nr
riss  . d 2'orry
nown as araan ,n sns
 'inan   d3
adha %nr
riss   d 2'ory
nown as  C ,n sns 
'inan  . d.3
1i yndu %nr
riss   d 2'orry
nown as ariy /odin#s
 d3
ana %nr
riss   d 2'orry
nown as uar ,n sns
 'inan   d3


 Samrat Forgings Limited

2oun in s.3

Mr a
sh M. uar 2Mana#in# 1iror3 "" "$

HMr. ... ro r 2Chi( 'inania ((ir3 "" 
Mr. and
uar 2Co
any rary3 " $$"

Mrs. iu oshi 1iror  "

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iin# ' aya+
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iin# ' aya+

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