Build with confidence

Shared Values Shared Ambition

ACC Limited 75th Annual Report 2010

75 years of Strength Performance Passion

Board of Directors
(As on February 3, 2011) Mr N S Sekhsaria Chairman Mr Paul Hugentobler Deputy Chairman Mr Kuldip Kaura Chief Executive Officer & Managing Director Mr S M Palia Mr Naresh Chandra Mr Markus Akermann Mr M L Narula Mr D K Mehrotra Mr R A Shah Mr Shailesh Haribhakti Mr Aidan Lynam Mr Sushil Kumar Roongta

Compliance Committee
Mr R A Shah, Chairman Mr Naresh Chandra Mr Shailesh Haribhakti Mr Paul Hugentobler Mr Kuldip Kaura

Company Secretary & Head Compliance
Mr Burjor D Nariman

Auditor
S R Batliboi & Associates

Compensation Committee
Mr N S Sekhsaria, Chairman Mr Paul Hugentobler Mr Shailesh Haribhakti

Cost Auditor
N I Mehta & Company

Bankers
State Bank of India Bank of Baroda State Bank of Hyderabad State Bank of Bikaner & Jaipur Standard Chartered Bank Citibank, N.A. The Hongkong & Shanghai Banking Corporation Limited HDFC Bank Limited ICICI Bank Limited

Shareholders’/Investors’ Grievance Committee
Mr Paul Hugentobler, Chairman Mr M L Narula Mr Kuldip Kaura

Managing Committee
Mr Kuldip Kaura, Chairman Mr T N Tiwari Mr Sunil Nayak Mr J DattaGupta Mr Ramit Budhraja Mr Rajiv Prasad Mr Vivek Chawla Dr Rajen Mehrotra Mr Shakti Arora

Audit Committee
Mr Shailesh Haribhakti, Chairman Mr S M Palia Mr Naresh Chandra Mr Paul Hugentobler

Registered Office
Cement House 121 Maharshi Karve Road Mumbai 400 020 Website: www.acclimited.com

Standalone Financial Statements

Contents
Introductory Profile - Message from Chairman - Performance & Financial Highlights Notice Directors’ Report and MDA Annexures to Directors’ Report Corporate Governance Financial Analysis Auditor’s Report Balance Sheet Profit and Loss Account Cash Flow Statement Schedules (1 to 18) Balance Sheet Abstract and Company’s General Business Profile 1-24 2-3 4-7 25-29 30-40 41-50 51-76 77-85 86-89 90 91 92 93-124 125 Annual General Meeting
On Wednesday, April 13, 2011 at 3.00 p.m. at Birla Matushri Sabhagar 19, Sir Vithaldas Thackersey Marg, Mumbai 400 020
Members are requested to kindly bring their copies of the Annual Report to the Meeting.

Statement under Section 212 Consolidated Financial Statements Accounts – Subsidiary Companies ACC Concrete Limited ACC Mineral Resources Limited Bulk Cement Corporation (India) Limited Lucky Minmat Limited National Limestone Company Private Limited Encore Cement & Additives Private Limited

126 127-158

159-175 176-186 187-198 199-212 213-223 224-237

Getting To Platinum
Our history makes an interesting business case study. The essence of our story begins with the formation of an Indian company in 1936 when ten existing cement companies integrated as one in a momentous amalgamation - the country’s first notable merger at a time when the term mergers and acquisitions was not yet coined. Now the organisation enters its seventy-fifth year. A platinum jubilee is a proud occasion and a befitting analogy as platinum is one of the noble metals. Quite sober in appearance, platinum represents determination and true grit and is revered for its endurance. Only a handful of companies in the country are known to have reached such a milestone while remaining in the same business in a position of eminence. We wear that distinction with humility and look forward to another glorious innings in the cement industry when we can be of service to the nation. In these pages we bring you some highlights of our journey of getting to this platinum jubilee, capturing the memorable achievements of all our people.

Esplanade House, Mumbai – where ACC’s registered office was first located.

Message from the Chairman

Message from the Chairman
N. S. Sekhsaria Chairman

2

ACC Limited

ACC is poised to grow much faster in coming decades based on its technical excellence.500 tonnes. ACC is proud to announce the commissioning of the expanded Wadi 2 kiln in September 2010. Even the last year we have just been through could have been daunting as it made the industry grapple with rising input costs and declining selling prices alongside heightened competition. Your Company has been a pioneer and trendsetter in cement and concrete. We can all take pride in being a part of this great Company. The completion of these two projects puts ACC on the threshold of achieving 30 million tonnes annually. Today. human resources. With a daily capacity of 12. ACC has built India for 75 years in a manner that its name is now familiar in every part of the country. From the beginning. A Platinum Jubilee is a significant milestone that is reserved for special organizations who wear this mantle not by financial excellence or scale of operations alone. This has made ACC an important benchmark for the Indian cement industry. Thank you. which would ultimately result in additional capacity of about 3 million tonnes per annum. the journey was difficult. This is a special year as ACC completes 75 successful years. we have no doubt these will offer a considerable boost to the demand for cement. A large part of the credit for this achievement must go to you the shareholders for your unwavering commitment to the values this organisation has steadfastly demonstrated. we cannot imagine the variety and magnitude of the tests and trials that ACC encountered since its inception. Narotam Sekhsaria 75th Annual Report 2010 3 . the challenges were many. but the spirit was unfailing. Another successful project is the new clinkering line at Chanda in Maharashtra that commenced trial production in November 2010. but by the blessings of enduring relationships with all the stakeholders they serve. promoting innovative research and product development. As ACC gears up for another important phase in its growth. With Government retaining a determined focus on infrastructure development and an optimistic outlook for overall GDP growth. The future for Your Company looks bright even as it passes through competitive times. But Your Company negotiated these uncertainties effectively to put itself in a position of strength. I have no doubt the company will continue to enjoy the same dedication and faith from all its stakeholders and associates that will inspire it to reach greater heights. The relationships and associations we formed with Ambuja Cements and with the Holcim Group have offered considerable opportunities for learning and adapting global best practices. brand equity and market growth.Dear Friends. it is said to be the largest cement kiln worldwide. In all these years.

99) 2006 2007 2008 2009 Growth (%) 2010 2006 2007 2008 2009 Sales Volume (Million Tonnes) Net Sales (` Crore) Op. EBITDA Margin (%) 49 42 41 40 25 2010 2010 1951 2009 7355 20.Performance Highlights Performance Highlights Sales Volume & Growth % Net Sales. Operating EBITDA & Operating EBITDA Margin 8027 21.3 7283 7717 23 1993 1899 2644 1717 1812 2010 Op.5 6991 18.1 5.2 2.9 5.0 21. EBITDA (` Crore) Profit Before Tax & Profit After Tax 2294 Capital Employed & Return on Capital Employed 6932 1930 1737 1620 1607 1439 1232 1213 1461 2006 2007 PBT (` Crore) 2008 2009 PAT (` Crore) 2010 1120 2006 4234 4791 2007 5746 2008 2009 ROCE (%) Capital Employed (` Crore) Net Worth & Return on Net Worth 6469 Net Cash Generated from Operations (` Crore) 2397 2023 17 2006 1422 2007 2008 1708 39 35 4928 3142 4153 25 6016 27 2007 Net Worth (` Crore) 2008 2009 RONW (%) 2006 2010 4 ACC Limited .9 5803 30 33 26 29 8.3 (0.0 21.

87 0.86 0.4 18.9 20. Earning per Share and Dividend Payout Ratio* 86 60 19.0 3481 2.4 21.7 66 77 65 90 91 93 91 36 23 20 77 2006 2007 2008 2009 2010 2006 EPS (`) 15 2007 2008 DPS (`) 20 15 2009 2010 Dividend Payout Ratio(%) Cement Production (Million Tonnes) Utilisation (%) *Dividend payout ratio is calculated considering dividend distribution tax.8 21.74 2006 2007 2008 2009 2010 2006 2007 Employees 2008 2009 8916 2010 Net Fixed Asset (` Crore) Asset Turnover Ratio Turnover Per Employee (` Crore) Cement Production & Capacity Utilisation Dividend per Share.5 20 31 60 8971 75th Annual Report 2010 5 .9 9231 1.5 0.1 1.Net Fixed Assets & Asset Turnover Ratio Employees at the year end & Turnover per Employee 6315 6645 10032 5073 9557 2.73 0.63 0. Book Value per Share (` Crore) 345 Economic Value Added (EVA) (` Crore) 901 913 320 263 813 168 221 570 2006 2007 2008 2009 2010 2006 2007 2008 2009 2010 301 30.1 3964 2.

461 Crore Raw material ` 1.599 Crore (20%) Depreciation ` 393 Crore 2010 (5%) Manufacturing and other costs ` 3.294 Crore Raw material ` 892 Crore (28%) (11%) Power & fuel ` 1.540 Crore (18%) Interest expenses ` 84 Crore (1%) 2009 Depreciation ` 342 Crore (4%) Manufacturing and other costs ` 3.Cost and Profit as a Percentage of Total Income Cost and Profit as a Percentage of Total Income Profit before tax ` 1.123 Crore (18%) Interest expenses ` 57 Crore (14%) (1%) Power & fuel ` 1.116 Crore (38%) 6 ACC Limited .441 Crore (42%) Profit before tax ` 2.

256 3.932 4.00 30.620 1.644 2.02 19% 19% 34% 1.02 21.232 3.717 1.120 8.23 15% 12% 15% 1.317 27 896 700 2.89 17.62 2% 74 4.075) 1.439 5.Financial Highlights ` Crore 2010 INCOME STATEMENT Net Sales Operating EBIDTA Profit before Tax Profit after Tax 7.00 85.645 2.60 26% 40% 25% 1.982 1.142 771 3.902 715 444 378 3.023 (824) (1.25 16.50 59.993 1.00 7.10 7.607 7.016 567 6.00 11.10 1.153 306 3.59 20.74 2% 221 20.50 17.25 2% 89 7.812 1.221 4.753 3.72 0.991 1.921 1.717 1.06 0.951 2.335 3.422 (483) (423) 644 (181) (419) 598 (519) (87) 478 (415) (33) 442 (159) (275) 484 (129) (355) (802) (1.00 0.66 33% 49% 27% 0.68 12% 9% 10% 1.720 946 1.214 1.15 2% 55 3.283 1.11 1.508 2.708 (1.75 30% 41% 39% 1.15 0.02 18% 18% 24% 1.99 0.024 1.315 1.456 35 891 807 2.472 114 1.04 3% 345 30.397 1.746 4.60 2% 60 2.803 1.469 524 6.122 348 1.964 1.23 3% 320 23.07 13.872 57 1.44 1% 168 15.39 4% 263 20.294 1.585 1.00 76.203 2.114 6.461 1.481 1.080 1.221 616 684 544 3.405 2.08 18.408 2.438 2.213 6.50 6.63 29% 42% 35% 0.74 2% 115 8.13 0.08 17% 13% 14% 1.234 2.284 496 254 200 2.040 941 2.489 2.791 3.37 23.760 2.00 64.831 482 164 130 2009 2008 2007 2006 2005* 2004-05 2003-04 2002-03 2001-02 BALANCE SHEET Net Worth Borrowings Net Fixed Assets Cash and cash equivalents# Current Assets Current Liabilities Capital Employed 6.027 2.071 3.170) (297) 2.761 SIGNIFICANT RATIOS Operating EBIDTA / Net sales Return on Capital Employed Return on Net Worth Current Ratio Debts Equity Ratio Price Earning Ratio Dividend Yield Ratio Net worth per Share (`) Dividend per Share (`) Basic Earnings per Share (`) 23% 25% 17% 0.00 66.64 CASH FLOWS Net cash provided by / (used in) Operating activities Investing activities Financial activities * Pertains to nine months period # Cash and cash equivalents includes investment in mutual funds 1.00 21.353 2.28 1.860 353 118 104 2.672 4.388 2.073 1.766 5.928 482 5.930 1.301 1.876 2.421 1.508 1.319 1.09 10.746 7.130 1.737 1.076 3.73 0.899 1.505) (637) (455) 75th Annual Report 2010 7 .355 6.

being dedicated. Conducting everyday operations internally in true team spirit. Working together and striving to delight customers with best solutions. demonstrating excellence in everything we do.Vision and Values Vision To be one of the most respected companies in India. 8 ACC Limited . Always ensuring excellence. Values Strength Building strong and lasting relationships. committed and passionate about everything we do. Performance Delivering on our promises to each other and to our stakeholders. Acting responsibly with integrity and demonstrating strength of character. demonstrating excellence in everything we do. Passion Caring. recognised for challenging conventions and delivering on our promises.

75th Annual Report 2010 9 . The Vision Corporate Triple Impact: Business Performance. Social & Environmental Action & Globalisation from Federation of Indian Chambers of Commerce & Industry Asia Pacific Entrepreneurship Award in the categories. New Construction Gold Rating to ACC headquarters building Cement House by World Green Building Council National award for excellence in Energy Management from Confederation of Indian Industry to ACC Lakheri and Wadi Rajasthan Energy Conservation Award 2010 to ACC Lakheri by Rajasthan Renewable Energy Corporation Limited Pollution Control Excellence Award from State Pollution Control Board. There have been numerous other felicitations conferred on us by reputed organisations for notable achievements in varied fields such as environment conservation. Madukkarai and Wadi Expansion Project Leadership in Energy & Environmental Design India NC. safety and community development.Awards and Accolades Awards and Accolades ACC was the proud recipient of the country’s first ever national award for promotion of rural development. Gold Award to ACC Jamul and Sindri . Orissa to ACC Bargarh Financial Express-Emergent Ventures India Green Business Leadership award – Best Performer in cement sector Kerala State Energy Conservation Commendation Certificate 2010 to ACC Madukkarai in the category Research & Innovation. New Delhi 9th Annual Greentech Safety Platinum Award to ACC Tikaria. Silver Award 2010 to ACC Lakheri. Green Leadership and Community Engagement by Enterprise Asia Institute of Cost and Works Accountants of India Good Performance Award 2010 IMA CFO Award for Excellence in Cost Management from International Market Assessment India Private Limited IMC Ramakrishna Bajaj Quality Award 2010 to DAV ACC Gagal School for excellence in education National Safety Award for 2008 from Government of India Ministry of Labour & Employment to ACC Gagal and Tikaria Safety Innovation Award 2010 to ACC Kymore and Tikaria from The Institution of Engineers (India). Here is a sample of the awards we received in 2010 which by itself makes a long list.

it was regularly upgraded.A Corporate Saga A Corporate Saga True to the name of the book written about it. Jharkhand ACC Chanda. the same serene heritage and a family of employees fired with the same engaging spirit to serve customers and stakeholders alike. ACC’s journey in time has indeed been a corporate saga. Our well-organized network continues to span India – offering a dependable people’s brand. Take Wadi in Karnataka for instance – set up in 1968. ACC Chaibasa. vibrant and youthful visage lies the same pioneering will. Most of our factories are located in the same familiar places. The country’s first one million tonne plant was installed here followed years later by India’s first two million tonne plant. Beneath its contemporary. But some things will never change. Maharashtra 10 ACC Limited . Only the plant and machinery in them are the most advanced you can find in the world of cement. Last year saw Wadi play host to the world’s largest cement kiln.

Creating New Milestones for Cement Industry 1982 2001 2010 3000 Tonnes per day 5000 Tonnes per day 12500 Tonnes per day India’s largest kiln India’s largest kiln World’s largest kiln World’s largest kiln at ACC Wadi..ACC Wadi Grows .. Karnataka 75th Annual Report 2010 11 .

The new company offered its customers a clutch of cement brands that were a treasure trove of magical names. Cement House is today a recognized landmark in Mumbai’s central business district. The name given to it was a mouthful so people simply referred to it as the merger. first Chairman of ACC with Mr. Dewarkhand Cement Company. Mumbai on November 10. 1936 from the merger of ten cement companies. 1937 1944 : ACC’s first community development venture near Bombay. viz.earliest brands 12 ACC Limited . First Board Meeting of The Associated Cement Companies Limited held at Esplanade House. legal and financial circles. before long it came to be called by its acronym. ACC. Mumbai ACC .) The first board of directors comprised the country’s most respected luminaries in the corporate. its formation was hailed as “the beginning of a new era in the Indian cement industry” and it instantly became one of the largest Indian companies of the time. the formation of ACC is complete on October 23. J R D Tata 1936: Incorporation of The Associated Cement Companies Limited on August 1. (That abridgement was adopted as the company’s official name in 2006. Sir N B Saklatvala. 1936 1937 : With the transfer of the 10th company to ACC. 1936 1936: First Board Meeting of The Associated Cement Companies Limited held at Esplanade House.1936 to 1945 Born A Leader When The Associated Cement Companies Limited was incorporated on August 1. A nationwide contest was announced for architects to design the new company’s headquarters.

1946 to 1955 Built To Last ACC Chaibasa Plant. Employees were assisted to relocate to the country of their choice in specially chartered trains and aircraft. the country’s first indigenously built cement plant.1952 Earliest ACC trademark the first logo 1947: ACC helps relocate employees and associates during Partition of India – evacuating them to the new country of their choice 1947: India’s first entirely indigenous cement plant established at Chaibasa in Bihar (now Jharkhand) 1952 : Village Welfare Scheme launched 1955: Sindri cement works used the waste product calcium carbonate sludge from fertilizer factory at Sindri. the new plant at Sindri (then in Bihar) was designed to produce cement using calcium carbonate sludge a waste generated by the nearby Sindri fertilizer factory. Its compassion was demonstrated in the manner it dealt with India’s partition when two of its plants were separated by new borders. Employees were treated as one large multi-cultural family. In another first. ACC’s technical expertise was revealed with the commissioning of a new plant at Chaibasa. Its approach to society was unfolded through the launch of the Village Welfare Scheme – a professional force of social scientists. By this time government had assumed rigid control over distribution of cement. doctors and other professionals who went about working for the economic upliftment of the community living around its plants. ACC Sindri Plant Village welfare scheme launched . 1947 The company soon became recognized as a progressive professionally managed organisation. 75th Annual Report 2010 13 .

waterproof cement and refractory cement products. The most momentous initiatives were the introduction of Portland Slag Cement for the first time in India from toxic wastes of the blast furnaces of steel makers. The refractory division would later grow to become the country’s largest. ACC Jamul Plant ACC’s Central Research Station. The crowning glory of the decade was the Central Research Station established at Thane. a waterproofing additive 1965 : ACC’s Central Research Station (CRS) established at Thane 1965 : Manufacture of Portland Pozzolana Cement 1965 : Jamul Plant established. 1957: Technical training institute established at Kymore. Both these varieties today play a vital role in the mitigation of carbon emissions.1956 to 1965 Breaking New Grounds This was a decade that established ACC as a pioneer and trendsetter. This was followed by Portland Pozzolana Cement. a new R&D hub and focal laboratory. Madhya Pradesh 1957: Katni Refractories business is launched 1961 : Blast furnace slag from TISCO used at the Chaibasa Unit to manufacture Portland Slag Cement for the first time in India 1961 : Oilwell Cement produced at ACC Shahabad. A technical training institute was set up in Madhya Pradesh. Thane 14 ACC Limited . New product development efforts yielded oil-well cement. Karnataka for oilwells upto a depth of 6.000 feet 1961 : Manufacture of Waterproof and Acid Resistant cement varieties 1962 : Manufacture of Accoproof. Bulk cement distribution began with the Okhla Silosite delivery depot that facilitated the construction of new structures in New Delhi.

The network grew with the addition of modern dry process plants at Chanda in Maharashtra and Wadi in Karnataka. Over several years the company had nurtured and supported this game by offering permanent employment to budding and professional cricketers. a practice that was repeated decades later when the SAP based enterprise wide resource planning system was adopted. 1968: Advent of computers in ACC for data processing and designing management information and control systems 1968: ACC supplied and commissioned onemillion-tonne iron ore pelletising plant ordered by TISCO 1968 : Chanda Cement plant established in Maharashtra 1970 : New cement plant commissioned at Wadi in Karnataka. a cross-functional team of employees was trained. Instead of hiring new professionals. ACC was one of a handful of companies in the country with a large in-house computer centre. when ACC’s chairman Mr N A Palkhivala emerged as a powerful independent voice that spoke aloud with ambitious dreams for economic reforms to enable the making of a prosperous India. Others included.1966 to 1975 Tested By Time Mr N A Palkhivala Computerisation came to ACC in 1968 The advent of computers revolutionised the way management dealt with information. This was the decade when ACC was visible in the world of cricket. Polly Umrigar. 75th Annual Report 2010 15 Mr Bapu Nadkarni Mr Madhav Mantri Mr Subhash Gupte Mr Ramakant Desai . Many of the legendary names in India’s Test cricket were employees of ACC led by Madhav Mantri who joined in 1946. The industry remained fettered with inflexible government controls on cement. Rusi Modi. Dilip Sardesai and Sunil Gavaskar.

Commissioning of the country’s first one million tonne plant at Wadi set off a trend.1976 to 1985 At The Crossroads ASSOCHAM felicitated ACC for outstanding performance in promoting rural development activities. Competition in the industry started in full earnest. 1977: ACC receives ASSOCHAM first national award for the year 1976 instituted for outstanding performance in promoting rural and agricultural development activities 1978: Introduction of the energy efficient precalcinator technology for the first time in India. ACC Wadi Yanbu Plant. the country’s first ever award of its kind. Full scale commercial production based on MFC technology at Wadi in 1979 1979 : ACC wins international contract for operation and management of a new one million tonne cement plant at Yanbu-Ras Biridi in Saudi Arabia 1982 : Commissioning of the first 1 MTPA plant in the country at Wadi. starting an enduring relationship that lent great prestige to the company as it tested its skills globally. In 1986 ACC celebrated its golden jubilee with gusto. The decade was momentous as cement was partially decontrolled in 1982. Saudi Arabia A cement retail outlet ACC Gagal Plant 16 ACC Limited . ACC made a new foray in international business with a contract to manage and operate the Yanbu Cement plant in Saudi Arabia. Karnataka 1984 : New plant in Gagal Himachal Pradesh 1984 : ACC achieves a breakthrough in import substitution by developing and supplying a special G type of oil well cement to ONGC.

which is successfully used in the Indian expedition to Antarctica 1992: Incorporation of Bulk Cement Corporation of India. Six old cement plants were divested while conversion of wet process capacity and modernization of old plants was undertaken apace. Nihon steel castings. This coupled with bulk cement distribution greatly influenced the pace and quality of construction in the country. a joint venture with the Government of India 1993 : ACC starts the commercial manufacture of Ready Mixed Concrete at Mumbai 1995 : ACC selected as Most Respected Company in India by a Business magazine.1986 to 1995 Trusted By Generations ACC Ready Mixed Concrete Plant today An early Ready Mixed Concrete Plant ACC’s foray into the country’s first commercial manufacture of Ready Mixed Concrete (RMX) gave rise to a whole new industry in India. But these were testing times as ACC grappled with the need for greater costcompetitiveness. operational efficiency and manpower rationalization. particularly of large commercial and infrastructure projects. Rio Tinto Diamond mining. A downturn in cement business led the company to make forays of diversification and joint ventures into non-cement areas introducing new names and products such as Bridgestone Tyres. Soft Ferrites and even fruit orchards. 1987: ACC develops a new binder for use at sub-zero temperatures. There were even short-lived experiments with marketing and franchising operations in cement. Asahi Float glass. Bulk Cement distribution 75th Annual Report 2010 17 .

(GACL) in tranches that follow in 2000 making the Ambuja group the single largest shareholder of ACC 2001 : New plant of 2.6 million tonne plant at Wadi.6 MTPA cement grinding unit at Tikaria. and largest cement grinding unit at Tikaria in Uttar Pradesh. Overall a significant decade. with the company recording improvements in costs and operating parameters. Uttar Pradesh 1999: Tata group sells its stake in ACC to Ambuja Cement Holdings Ltd. The exit of the Tatas led to two new associations which proved immensely beneficial to the organisation – a strategic alliance with the Ambuja Cement group and later an association with the Holcim group. the largest in the country 2002 : ACC wins PHDCCI Good Corporate Citizen Award 2003 : IDCOL Cement Ltd becomes a subsidiary of ACC 2004 : ACC raises US $ 100 million abroad through Foreign Currency Convertible Bonds and Global Depository Shares 2005 : Holcim group of Switzerland is associated with ACC through a strategic alliance with Ambuja Group 2005 : Modernisation and Expansion project at Chaibasa in Jharkhand. Mason training Gujarat earthquake relief Restoration work ACC Wadi Plant . Not so well known was the painstaking effort to restore and rehabilitate numerous heritage landmarks. a subsidiary of Gujarat Ambuja Cements Ltd. with a new 1.2 MTPA kiln. Karnataka.1996 to 2005 Strength Through Associations Another milestone was created with the country’s first 2.6 MTPA capacity at Wadi. The Bargarh cement plant became a part of ACC.2. ACC’s social responsibility was amply demonstrated when it provided timely financial relief and invaluable training in the construction of earthquake proof structures for the benefit of the victims of the quake that hit Gujarat. 18 ACC Limited .6 MTPA ACC Tikaria Plant Jayalakshmi Vilas Mansion 1998: Commissioning of 0.

As a member of the worldwide Holcim group. As the platinum jubilee year unfolds. the company evolves into a new avatar of itself with a vision to be one of the most respected companies in India.1 MTPA of Portland Slag Cement 2010 : Encore Cement & Additives Pvt Limited. including the world’s largest cement kiln at Wadi. The new Kiln at ACC Wadi is the world’s largest 2006: Change of name to ACC Limited with effect from September 1. the company is on the threshold of a new phase of growth. Cement House into a green building 2009 : Jamanalal Bajaj “Uchit Vyavahar Puraskar” of Council for Fair Business Practices 2009 : ACC is allotted coal blocks in Madhya Pradesh and West Bengal 2009 : New Grinding plant of capacity 1. armed with ultramodern production facilities. recognized for challenging conventions and delivering on our promises.2006 to 2010 Foundations For The Future A new chapter is written in ACC’s history as it is renamed ACC Limited and adopts a vibrant new identity. 2006 2006: Good Corporate Citizen Award 200506 from Bombay Chamber of Commerce and Industry 2006 : New corporate brand identity and logo adopted from October 15. Wadi 75th Annual Report 2010 19 . 2006 2006 : Waste management services launched 2006 : ACC announces new Workplace policy for HIV/AIDS and establishes Anti Retroviral Treatment Centre for HIV/AIDS patients at Wadi in Karnataka 2006 : ACC partners with Christian Medical College for treatment of HIV/AIDS in Tamil Nadu 2007 : ACC commissions Wind energy farms in Tamil Nadu and Rajasthan 2008 : ACC Cement Technology Institute formally inaugurated at Jamul on July 7 2008 : First Sustainable Development Report released on June 5 2008 : CNBC-TV18 India Business Leader Award in the category India Corporate Citizen of the year 2008 2008 : Project Orchid launched to transform our Corporate Office. becomes part of ACC ACC Kudithini ACC Thondebhavi ART Centre. a slag grinding plant in Vishakhapatnam.60 MTPA inaugurated at Thondebhavi in Karnataka 2010 : Kudithini Grinding Plant inaugurated in Karnataka with capacity of 1.

Thane .one of ACC’s green buildings 20 ACC Limited .In Harmony With Nature In Harmony With Nature ACC Greens Village. Bellary La Residency.

clean mining techniques and of course safety. Our development schemes focus on creating sustainable livelihoods. We believe Knowledge advancement is essential for capacity building and enhancing employability among the socially weaker sections of society. 75th Annual Report 2010 21 .The Central Control Room Building at ACC Chanda. rural infrastructure development. one of our green buildings and the first such in an industrial environment From the beginning. we have partnered with NGOs. In addition to encouraging a high proportion of local participation. we were imbued with a rich tradition of engaging with the community living around our operations by encouraging their active involvement in various development schemes. particularly the well-being of those who live around the company’s operations. waste management. providing education for society’s future. local bodies and Government departments. including those linked to natural resource management. A high point of our approach to community engagement is the creation and deployment of Community Advisory Panels comprising representative groups of local residents which has proved effective in ensuring the community’s faith in our development schemes. and capacity building for better local governance. maximizing energy efficiency. ACC vigorously pursues its goal of sustainable development through exacting standards in environmental conservation. Our community welfare measures have helped us reach out to nearly 100 villages across India and provide basic health care and education. Long before corporate social responsibility came to be talked about as a good practice. We operate three technical institutes and support several ITI’s in the country to support the cause of vocational education. Among the first companies in India to include commitment to environment protection as a corporate objective. women empowerment. the promotion of renewable energy. emission controls. the pursuit of alternative fuels and raw materials. ACC’s founders imbued in the organisation an urge to demonstrate good corporate citizenship by way of fair business practices and visible concern for the planet and its people. It is a belief that still endures.

Board of Directors Board of Directors 22 ACC Limited .

Mr N S Sekhsaria. Chief Executive Officer & Managing Director 4. Mr Aidan Lynam 12. Mr Markus Akermann 7. Mr Paul Hugentobler. Mr Shailesh Haribhakti 11. Mr S M Palia 5.12 7 6 11 10 8 9 5 2 1 3 4 1. Mr Naresh Chandra 6. Deputy Chairman 3. Chairman 2. Mr M L Narula 8. Mr R A Shah 10. Mr D K Mehrotra 9. Mr Kuldip K Kaura. Mr Sushil Kumar Roongta 75th Annual Report 2010 23 .

The tradition continues as we participate in building solid structures with our commitment. 24 ACC Limited . We have put in over seven decades of dedicated effort in helping build infrastructure. Be it mega structures that have become everlasting landmarks or just simple houses.Building the Nation Building The Nation ACC has played a vital role in the development of a vibrant India. knowledge and technical expertise. ushering in modern distribution and construction practices. ACC has become a name synonymous with trust and confidence.

A. S R Batliboi & Associates. 4.m. To appoint a Director in place of Mr. but who is eligible for appointment and in respect of whom the Company has received a notice in writing under the provisions of Section 257 of the Companies Act. as Auditors of the Company on such remuneration as agreed upon by the Board of Directors and the Auditors. Sushil Kumar Roongta who was appointed by the Board of Directors as an Additional Director of the Company with effect from February 3. K. 2. To appoint a Director in place of Mr. The Dividend. b. To appoint Messrs. 1956 from a Member proposing Mr. To appoint a Director in place of Mr.Notice VENTY-FIFTH SEVENTY-FIFT HAT EREB HEREBY NOTICE NOTICE IS HEREBY GIVEN THAT TH E SEVENTY-FIFTH ANN AC LIMITED ERAL GENER MEETI ANN UAL GENERAL MEETI NG OF ACC LIMITED will be held at Birla Matushri Sabhagar. N. Sir Vithaldas ednesday Thackersey Marg. 5. 2010. April 13. D. 2010 in the casual vacancy on the Board caused by the resignation of Mr Onne van der Weijde and who holds office up to the date of the forthcoming Annual General Meeting of the Company under Section 262 of the Companies Act. after declaration.m. 2011 at 3. to transact the following business:ORDINARY BUSIN DINAR ORDINARY BUSIN ESS 1.00 p. To appoint a Director in place of Mr. will be paid to those Members of the Company whose names stand on the Register of Members on April 13. 1956. Mumbai 400 020 on Wednesday. Lynam’s candidature for the office of Director. SPECIAL BUSIN SPECIAL BUSIN ESS 7. To receive and adopt the Audited Profit and Loss Account for the financial year ended December 31. Shah who retires by rotation and is eligible for reappointment. Roongta’s candidature for the office of Director. The 75th Annual Report 2010 25 with effect from April 22. 19. . 6. S. Aidan Lynam who was appointed as a Director of the Company 8. 1956 from a Member proposing Mr. Sekhsaria who retires by rotation and is eligible for reappointment. To declare a dividend. the Balance Sheet as at that date and the Report of the Directors and Auditors thereon. 1956. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE INSTEAD OF HIMSELF AND A PROXY NEED NOT BE A MEMBER. 3. 2011 and who holds office up to the date of the forthcoming Annual General Meeting of the Company under Section 260 of the Companies Act. p. The Register of Members and Share Transfer Books of the Company shall remain closed from March 31. 2011 both days inclusive. c. R. but who is eligible for appointment and in respect of whom the Company has received a notice in writing under Section 257 of the Companies Act. in addition to reimbursement of service tax and all out of pocket expenses incurred in connection with the audit of the Accounts of the Company for the year ending December 31. 2010. Mehrotra who retires by rotation and is eligible for reappointment. To appoint a Director in place of Mr. Notes: a. 2011 to April 13. Chartered Accountants. 2011.

Nomination forms can be obtained from the Share Department of the Company. facility for making nominations is available for Members in respect of the shares held by them. 2004. By Order of the Board of Directors. February 3. e. dividend warrants will be issued to the Members with bank details printed thereon as available in the Company’s records. Nariman Company Secretary & Head – Compliance Mumbai. in respect of the business under Item Nos. 2011 Registered Office: “Cement House”. Dividend will be credited to the Members’ bank account through NECS wherever complete core banking details are available with the Company. g. the unpaid / unclaimed Dividend for the year ended March 31. in the matter to enable the Company to issue Demand Drafts in lieu thereof. 7 & 8 as set out above is annexed hereto. 2011 as per the list provided by the Depositories for this purpose. In cases where the core banking details are not available. 1956. 121. D. The dividend will be payable on and from April 19. Those Members who have not encashed their warrants are requested to immediately return the outdated warrants to the Company or write to the Company f. 1956. As per the provisions of the Companies Act. d. During the current financial year 2011. the Company will be required to transfer to the Investor Education & Protection Fund. 2011. For ACC Limited B. Maharshi Karve Road. The Securities and Exchange Board of India (SEBI) has made it mandatory for all companies to use the bank account details furnished by the depositories for depositing dividends. Mumbai 400 020 26 ACC Limited . The relative Explanatory Statements pursuant to Section 173 of the Companies Act.Notice dividend in respect of shares held in dematerialized form in the Depository System will be paid to the beneficial owners of shares as on March 30.

Aidan Lynam as a Director of the Company with effect from April 22. Roongta is a recipient of a number of awards including SCOPE Award for excellence and 75th Annual Report 2010 27 . as required by Section 173 of the Companies Act.I. Item No. 1956. SAIL achieved new benchmarks in operational and financial performance and was ranked second among “World Class Steel Makers” by World Steel Dynamics. Mr. 5. In addition to the above. Switzerland. Mr.). 7 & 8 mentioned in the accompanying Notice dated February 3. Singapore. New Delhi. 8.Eng. Roongta was on the Governing Boards of reputable academic institutions and is on certain Committees constituted by the Government of India and Chambers of Commerce & Industry. 3. Chartered Member of the British Institute of Manufacturing Engineers (C. Mr. set out all material facts relating to the business under Item Nos. 7. 9. Item No 7: The Board of Directors has appointed Mr. No. 1956.I. 2010 in the casual vacancy caused by the resignation of Mr. Lynam is presently in the services of Holcim Limited and is Area Manager responsible for Vietnam. Lynam as Director of the Company. 6.E. he is a Member of the Institute of Engineers of Ireland (M. Mr.E. SAIL was conferred the status of “Maharatna” by the Government of India in 2010 being one of the four PSUs to be awarded this status.. He is a Fellow of All India Management Association (AIMA). Under his leadership. 2011. 1956. Mr. In view of Mr. his appointment on the Board is in the interests of the Company. Onne van der Weijde in whose place he has been appointed would have otherwise held office viz.Explanatory Statements The following Explanatory Statements. Lynam is interested in the Resolution set out at Item No 7 of the accompanying Notice since it relates to his appointment. has been received from a Member signifying his intention to propose the appointment of Mr.). Onne van der Weijde. Malaysia and Cambodia. USA. till the date of the forthcoming Annual General Meeting of the Company. Lynam holds a degree in Engineering from the University College of Dublin and an MBA from IMD. 2011. M. Under Section 262 of the Companies Act.I. Mr. Mr. A Notice under Section 257 of the Companies Act. Mr. 7 of the accompanying Notice. None of the other Directors are concerned or are otherwise interested in the said Resolution. 4. 2. The Board commends the above appointment and the relevant Resolution at Item No. Bangladesh. Sri Lanka. Lynam holds office as Director till the date up to which Mr. Lynam’s qualifications. Sushil Kumar Roongta as an Additional Director on the Board with effect from February 3. Roongta was the former Executive Chairman of Steel Authority of India Limited (SAIL). 8: The Board of Directors has appointed Mr. Pilani and a Post Graduate Diploma in Business Management – International Trade from the Indian Institute of Foreign Trade (IIFT).E. Roongta holds a degree in Bachelor of Engineering from Birla Institute of Technology & Science (BITS). and valuable experience. Lausanne.

Nariman Company Secretary & Head-Compliance Mumbai. For ACC Limited B. Mumbai 400 020 28 ACC Limited . 11. The Board commends the above appointment and the relevant Resolution at Item No. Mr. Roongta as Director of the Company. By Order of the Board of Directors. has been received from a Member signifying his intention to propose the appointment of Mr. 1956. 12. None of the other Directors are concerned or are otherwise interested in the said Resolution. February 3. 8 of the accompanying Notice. 121. 2011 Registered Office: “Cement House”. Roongta holds office as Director only til the date of the forthcoming Annual General Meeting. Maharshi Karve Road.Notice outstanding contribution to the Public Sector Management – Individual Category 2008. A Notice under Section 257 of the Companies Act. 10. Mr. Under Section 260 of the Companies Act. 1956. 13. D. Roongta is interested in the Resolution set out at Item No 8 of the accompanying Notice since it relates to his appointment.

Annexure to Items 3, 4, 5, 7 & 8 of the Notice Annexure eappointmen forthcoming orthc General Direc ectors appointmen tment reappointment at Details of Directors seeking appointment / reappointment at the forthcoming Annual General Meeting (in pursuance of Clause 49 of the Listing Agreement) Agreement) greemen
Direc ector Name of the Director Date Birth Date of Birth Nationality Nationality Mr. S. Mr. N. S. Sekhsaria 21.09.1949 Indian Mr. D. Mehrotr otra Mr. D. K. Mehrotra 05.05.1953 Indian 14.10.2005 B.Sc (Honours) Mr. Mr. R. A. Shah 07.07.1931 Indian 24.01.2006 Solicitor Mr. Lynam Mr. Aidan Lynam 08.07.1960 Irish 22.04.2010 Degree in Engineering & Member of the Institute of Engineers, Ireland Mr. Kumar Mr. Sushil Kumar Roongta 09.05.1950 Indian 03.02.2011 Bachelor of Engineering (Hons.) Electrical from Birla Institute of Technology & Science (BITS) Pilani Post Graduate Diploma in Business Management – International Trade Fellow - All India Management Association (AIMA) Shareholding AC Shareholding in ACC NIL Direc ectorships List of Directorships held in other Companies Ambuja Cements Limited; Radha Madhav Investments Limited; Ambuja Cement Foundation
(Section 25 Company); (Section 25 Company);

Date Appointmen tment Date of Appointment 27.12.1999 Board on Board Qualification Qualification Bachelor of Chemical Engineering from Bombay University – Secured Second Rank

NIL ITC Limited; ICICI Venture Funds Management Co. Limited; Infrastructure Leasing & Financial Services Limited; Life Insurance Corporation of India (Managing Director); LIC HFL Care Homes Limited (Chairman); LIC Housing Finance Limited, LIC HFL Trustee Company Private Limited LIC (Lanka) Limited, Sri Lanka; Alternate Director: ector Alternate Director: Kenindia Assurance Co. Limited, Nairobi, Kenya

NIL Clariant Chemicals (India) Limited; Godfrey Phillips India Limited (Phillip Morris affiliate); Pfizer Limited; Procter & Gamble Hygiene & Healthcare Limited; Colgate Palmolive India Limited; Roche Scientific Co. (I) Pvt. Limited; Abbott India Limited; Asian Paints Limited; The Bombay Dyeing & Mfg. Co. Limited; BASF India Limited; Century Enka Limited; Deepak Fertilizers & Petrochemicals Corpn. Limited; Jumbo World Holdings Limited Lupin Limited; Piramal Healthcare Limited Wockhardt Limited; Alternate Director: ector Alternate Director: Atul Limited; BASF Polyurethanes India Limited; Modicare Limited; RPG Life Sciences Limited; Schrader Duncan Ltd.; Uhde India Limited
(Foreign Company);

NIL

NIL Axis Bank Limited; Nevyeli Lignite Corporation Limited; The Shipping Corporation of India Limited; Jubilant Industries Limited; Hindustan Petroleum Corporation Limited; Jindal Power Limited

Ambuja Educational Institute Narotam Sekhsaria Foundation

(Section 25 Company);

JM Financial Asset Reconstruction Company Pvt. Limited

75th Annual Report 2010

29

Directors’ Report

DIRECTORS’ REPORT & MANAGEMENT DISCUSSION AND ANALYSIS
MEMBER ERS TO TH E MEMBERS OF LIMITED ACC LIMITED The Directors take pleasure in presenting the Seventy Fifth Annual Report together with the audited accounts, for the year ended December 31, 2010. The Management Discussion and Analysis has also been incorporated into this report. PRE MBLE 1. PREAMBLE - 2010 The Cement Industry went through challenging times in 2010 after a heady performance in 2009. While it benefited from vibrant growth of the national economy and the Government’s continued thrust on infrastructure development, the Industry had to contend with a decline in selling prices across all regions simultaneously with a surge in costs of major inputs like coal, slag, fly ash and gypsum which led to an overall decline in profitability. The year witnessed large scale additions of ~36 million tonnes in cement capacity which reached ~260 million tonnes, while capacity utilization slipped to barely 80 per cent. Despite a mix of constraints such as prolonged monsoon, floods, shortages of sand and aggregates and transport bottlenecks at different times in different states, the Industry managed a growth of ~10 per cent in supply to touch ~212 million tonnes. x Your Company ended the year 2010 relatively flat in terms of growth in sales. However the successful The Corporate Sustainable Development Report for 2009 was released with the contents assured by external auditors. x With a view on customer focus and innovation, two new cement products viz. Concrete+ and Coastal+ were launched in key markets, which were very well received by customers. Foundation to Roof Cement (F2R) was introduced in new markets this year and has found good acceptance. x The largest kiln in the world with a capacity of 12500 tpd was commissioned at Wadi. x x FORMANC PERFORMANCE LIGHTS IGHLIGHT 2. H IGH LIGHTS OF PERFORMANCE x Consolidated income for the year under review was ` 8,619 crore a decrease of 1.2% as compared to ` 8,722 crore in 2009. Consolidated profit before tax declined in 2010 to ` 1,415 crore against ` 2,247 crore in 2009. Consolidated profit after tax was also consequently lower in 2010 at ` 1,078 crore against ` 1,564 crore in 2009. commissioning of expansion project at Wadi and with the commissioning of Chanda during 2011, the total installed capacity would rise to ~30 million tonnes per annum and place your Company on the threshold of achieving major growth.

30

ACC Limited

FINANC NANCIAL RESU ESUL 3. FINANCIAL RESULTS Consolidated ` Crore 2010 Sale of product and services (net of excise duty) and other income ............................................................... Profit before tax .................................................................. Provision for Tax .................................................................. Profit after Tax ..................................................................... Balance brought forward from previous year ......... Profit available for appropriations .............................. Appropriations : Interim Dividend ................................................................. Proposed Dividend ............................................................. Dividend Distribution Tax ............................................... Previous year Dividend Distribution Tax ................... General Reserve ................................................................... Debenture Redemption Reserve ................................... Amortisation Reserves ...................................................... Surplus carried to the next year’s account .............. 187.75 384.88 95.10 (0.93) 250.00 25.00 0.65 3,175.45 187.70 244.06 73.38 350.00 25.00 0.65 3,040.37 187.75 384.88 95.10 (0.93) 250.00 25.00 0.65 3,381.41 187.70 244.06 73.38 350.00 25.00 0.65 3,203.85 2009 Standalone ` Crore 2010 2009

8,619.32 1,415.41 341.36 1,077.53 3,040.37 4,117.90

8,721.56 2,247.48 686.79 1,563.91 2,357.25 3,921.16

8,074.26 1,461.45 341.44 1,120.01 3,203.85 4,323.86

8,267.62 2,294.39 687.66 1,606.73 2,477.91 4,084.64

DIVIDEN DEND 4. DIVIDEND Your Directors take great pleasure in recommending a final dividend of `13 per equity share of `10 each. To commemorate the Company’s Platinum Jubilee, the Board of Directors has recommended payment of a one time special dividend of `7.50 per equity share. The Company had distributed an interim dividend of `10 per equity share in August 2010.

The total dividend for the year ended December 31, 2010 would accordingly be `30.50 per equity share of `10 each as against `23 per equity share of `10 each for the year ended December 31, 2009. The total outgo for the current fiscal amounts to `667.73 crore, including a dividend distribution tax of `95.10 crore, as against `505.14 crore, including dividend distribution tax of `73.38 crore in the previous year.

75th Annual Report 2010

31

Directors’ Report

ENARIO ONOMIC SCENAR AND OUT ECONO 5. ECONOMIC SCENARIO AND OUTLOOK The world economy is gradually coming out of the downturn. The robust growth in India and China has provided an impetus to the ongoing recovery of the world economy. The state of the economies of many developed countries continue to be a cause of concern with the Euro zone being the most vulnerable as global rating agencies continue to downgrade the sovereign debt rating of many countires in this region. As regards the US economy, though it is showing incipient signs of recovery, the high unemployment levels continue to defy solution. Thus the developing economies are now emerging as the major drivers of global economic growth. During 2010, the Indian economy saw acceleration in the pace of its growth due to a rebound in rural income with increase in agricultural production and a good industrial and service sector growth. With strong demand, robust consumption, savings and investment rates set to continue in 2011, the GDP growth projection for 2011-2012 is in excess of 8%. While the growth outlook remains strong, in the near term, there are a number of challenges facing our economy such as high levels of inflation particularly in food prices, a widening trade deficit, deceleration in corporate spending and hardening of global energy prices. Concerted and coordinated monetary, fiscal and policy measures are required to tackle these challenges head on. Despite these challenges, in the medium to long term, India has many positive factors in its favour to strengthen its emergence as a global economic powerhouse.

DUST I N DUS T R Y 6. C EMENT OPPOR ORT ITI OPPORTU N ITI ES

OUT OU T L O OK

AND AN D

The demand for cement would continue to remain strong in 2011. A growth of ~10 per cent is expected in view of continued focus on infrastructure development and the benefits from a relatively good monsoon boosting demand from the rural segment. In the next fiscal, additional cement capacity of ~27 million tonnes is likely to go on stream. With the bulk of the capacities coming up in the South, the demand supply imbalance in 2011 would continue to be a cause of concern in the South, though it is expected to improve or remain in a status quo position in other regions. The dwindling availability of linkage coal and the move to sell high grade indigenous coal at international prices are likely to impact power and fuel costs. The prices of other major inputs mainly slag, gypsum and fly ash are likely to further harden in 2011, whilst the increase in petroleum product prices would continue to impact freight costs. A shortage in railway wagon availability may adversely impact despatches in peak months. The long term outlook for the industry continues to be bright given the high growth trajectory of the Indian economy and the growing demand from the infrastructure sector where the planned spend between 2012-2017 is over US $ 1 trillion. Strong demand from the housing sector is also anticipated arising out of increasing urbanization, the burgeoning middle class with higher disposable incomes and Government stimulus for enhancing rural income and affordable housing.

32

ACC Limited

One 25 MW CPP was commissioned in September 2010 to meet the entire power requirements of Chanda. The PSC from ECAPL is being sold in Visakhapatnam and in the neighbouring districts of Andhra Pradesh and Orissa. Trial commissioning of the clinkering unit at Chanda in Maharashtra having a kiln capacity of 7000 tpd was carried out in November 2010.7 MTPA respective capacities will end on completion of the current contract period on February 28. The kiln is expected to stabilize by the second quarter of 2011. BUSIN PERFORM FORMA CE AT 7.52 8027. The contract with Mugher Cement Enterprise (a Government of Ethiopia Undertaking) for providing project engineering and consultancy services for setting up of a greenfield clinkering line along with a satellite grinding and packing plant is progressing well. whilst the second unit also of 25 MW is expected to be commissioned in the second quarter of 2011. the contract with Yanbu Cement Company.9) b) Encore Cement & Additives Private Limited (ECAPL) the wholly owned subsidiary of your Company has added certain balancing equipment as a result of which ECAPL now has a capacity to produce 4 lakh tonnes of slag cement (PSC) in addition to Ground Granulated Blast Furnace Slag (GGBS). A new vertical roller cement mill of 260 TPH capacity will be commissioned around the second quarter of 2011.33 22. OVERSEAS BUSI N ESS After 31 years of successful operation.21 21. This Company has commenced production from its new grinding unit during the year. ACQUISITIONS / JOINT VENTU R ES Your Company completed the acquisition of a 45% equity stake in Asian Concrete and Cements Private Limited in April 2010. once the other balancing equipment are positioned to feed the kiln. 75th Annual Report 2010 33 * Includes sale to ACC Concrete Limited and trading sales ODERN ISA EXP XPANSION NE PRO ECTS 8. QUISIT ISITIONS JOINT VENTU 9. C EMENT BUSI N ESS – PER FORM A N C E AT A GLANCE GLANCE 2010 Production-million tonnes Sales volume-million tonnes* Sales value – ` crore Operating EBITDA % 21.Your Company is building on the momentum it has already achieved in the latter part of 2010 to ramp up production and logistics and other crucial enablers so as to attain its peak capabilities.7% 2009 Change % 21. Saudi Arabia for operation and maintenance of two of its cement plants of 1.29 7717. VERSE SEA BUSIN 10.20 32. Preliminary exploratory studies are being conducted and seeking of various Government clearances is in progress in respect of the said coal blocks.7) (1.2 MTPA and 2. . one 25 MW captive power plant (CPP) was commissioned in October 2010. With the above commissioning of kilns at Wadi and Chanda and the related satellite grinding units at Kudithini and Thondebhavi. 2011.37 21. the overall capacity for the Company will be ~30 MTPA. Your Company has through its wholly owned subsidiary ACC Mineral Resources Limited entered into Joint Venture Agreements with Madhya Pradesh State Mining Corporation Limited for development of four coal blocks in mid 2009.1) (3. In addition.3% (0. MODERN ISATION / EXPANSION / NEW PROJ ECTS a) Your Directors are pleased to announce the successful commissioning of the world’s largest kiln with a capacity of 12500 tpd at Wadi in the State of Karnataka in November 2010.

Notable among these. CUP HEALT SAFETY (OH&S) 13. The portfolio of client industries thus widened further to include renowned companies from different sectors such as chemical. Significant increase in the usage of these alternative fuels and raw materials enabled savings of the order of ` 47 crore during the year as against ` 41 crore in 2009. Going beyond conventional practice. All these wind energy farms are perfoming well. SUSTAI NABLE DEVELOPMENT SUSTAINAB DEVELOPMENT NABLE VELOP Development Repor eport 12. It incorporated external assurance and transparency of a high order. 12. which has been undertaken by very few other companies in India. was employability training provided to 100 young persons around the Jamul Plant and facilitating in their employment in service sectors in three nearby towns. In another major ongoing initiative.5 MW wind mill project in Maharashtra during the year.1 Sustainable Development Report Your Company continued to demonstrate its commitment to sustainable and social development making progress on several fronts. Rajasthan and Maharashtra will be 19 MW.2 Community Development Your Company’s community development initiatives gained greater local acceptance as a result of the active involvement of local community advisory panels that were put in 34 ACC Limited place at each plant location in the previous year. The schemes focused mainly on securing sustainable livelihoods. 12.4 Captive Power Plants (CPPs) aptive Pow Plants (CPPs ower With the commissioning of one CPP of 25 MW at Wadi. two 15 MW CPPs at Bargarh and one 25 MW CPP at Chanda during 2010. This year around 43 diverse types of industrial waste streams were successfully coprocessed marking a substantial increase from 27 types of industrial waste that were co-processed in the preceding year. automobile and allied food and beverages. OCCU PATIONAL HEALTH & SAFETY (OH&S) Your Company firmly believes that it is accountable for the well being of every person who works at its . ALTERNATIVE FU ELS AND RAW MATERIALS IALS FU ELS AND RA MA ERIAL NAT ALTERNA The Company’s Alternative Fuels and Raw Materials (AFR) business continued to record growth through the co-processing of industrial waste at all our plants. the total wind mill capacity in Tamil Nadu.3 Wind Energ y With commissioning of the 2. FMCG.Directors’ Report 11. marking an increase of 15 per cent. Another 25 MW capacity plant is expected to be commissioned by mid 2011. the report and the processes were subjected to the AA1000AS (2008) standard. Energ 12. Participation of local community leaders in the development programmes ensured they were supported by local governance in decision making and monitoring. the total capacity of captive power plants of your Company is 336 MW. Development 12. The Sustainable Development Report for the year 2009 was released on World Environment Day. The remaining houses expected to be completed this year. The report was felicitated by the Association of Business Communicators of India with their Silver Award in the category of Environment Communication. ACC’s team at Tikaria helped 106 farmers get loans and 17 persons received farmers’ Kisan credit cards which facilitated purchase of agricultural inputs and assisted in crop planning. 52 out of 100 homeless flood affected victims of Karnataka and Bihar were allotted new houses. through vocational guidance and encouragement of self help groups.

Strategic Talent Management Stra alent Management The Strategic Talent Management initiative aims at creating a blueprint for building an adequate pipeline of personnel for meeting current and future requirements. A talent pool has been assessed based on performance and potential towards this initiative in 2010. thereby paving a way for every employee to contribute towards making his workplace safer and to serve as a common learning platform. criticality of skilled shop floor associates and aging workforce necessitates efforts focussed on up-skilling. 2010. awareness and preparedness. The program focuses on the enhancement of knowledge and skills for effective strategic execution and change management. The Contractor Safety Management (CSM) project called “Suraksha Bandhan” launched in November 2009 made rapid progress in 2010. Significant initiatives were taken during the year to improve the safety of employees and contractors and to make the Organization a safe work place. The Company also deputed middle and senior management employees overseas for customized training programmes in leading international business schools. including contractor personnel and has enshrined the same in its OH&S vision of “No harm anywhere to anyone associated with ACC’’. FI NANCE The debt–equity ratio of the Company as on December 31. hazard identification and risk assessment workshops and “Visible Safety Programme” were conducted to enhance safety capabilities. through systematic investment in Talent Development and Succession Planning for critical positions. Industrial relations in all the Units continue to be cordial and peaceful.08:1. To further reinforce the importance of taking personal responsibility for safety. Your Company has also embarked on a self development project for young professionals by offering them courses which equip them with relevant knowledge and help them in performing better in their respective careers. FINANC NANCE 15.facilities. Several other initiatives like two day safety induction programmes for contract workmen. stands at a comfortable level of 0. the Company has recently launched an Enterprise based Vocational Education (EVE) programme. Your Company repaid a term loan of ` 50 75th Annual Report 2010 35 . Keeping this in view. Employees from cross functional areas are sent to reputable business schools for undergoing training. New business processes and procedures for contractor safety management were set up during the year and training was imparted to the contractor’s supervisors. The EVE program is visualised to be a self sustaining mechanism which integrates seamlessly with the plant operations whilst providing a continuous source of up-skilled employees to ensure smooth functioning at plants. initiativ for tive Associates Up-skilling initiative for Shop Floor Associates Your Company’s nation wide presence. RESOU ESOUR 14. your Company has started a program called the ‘Transformational Leadership Program’. which is a one year comprehensive programme that focuses on the development of technical knowledge / skills of existing workforce in one of its’ plants. H UMAN RESOURC ES Development Learning & Development In order to groom future leaders. where ‘‘anyone’’ is defined to include “employees” and “contractors personnel” at the various Company sites. the Company’s intranet employee portal “Accelerate” is being leveraged to establish a two way communication on safety.

inventories and other working capital parameters are kept under strict check through continuous monitoring.2 Bulk Cement Corporation (India) Limited Cemen Corpor ement orpora (BCC (BCC I) During the year under review. The Company continued to focus on consolidating its position by increasing volumes from its existing assets and therefore expansion remained curtailed. The profit after tax for the year 2010 was ` 38. 16.15 lakh tonnes in 2009. Target market penetration and segment specific offerings would assist ACCCL in mitigating pressures of increased competition.13 crore. BCCI handled an all time high cement volume of 9. The number of operational plants went up marginally from 44 to 48 by the end of the year.83 lacs as against a loss of ` 107. The recessionary effect of 2009 in the real estate market was reversed and the RMX market showed a growth of ~15% largely fuelled by an increase in demand from all sectors and in particular in the realty 36 ACC Limited sector.58 lacs incurred in 2009. FIXED DEPOSITS OSITS DEPOSIT Despite efforts to identify and repay unclaimed deposits. competition within the RMX market remains strong with cement players looking to forward integrate as well as on account of an increasing number of smaller players entering the market. Your Company’s cash and cash equivalent as at December 31. SUBSI DIARY COMPANI ES Concr oncrete (AC 18. achieved a marked improvement in its working over the previous year with a growth of 19% in volumes. the consortium arrangement for meeting working capital requirement was discontinued and the Company opted for multiple banking arrangements. leveraging in house and Holcim expertise in adding value to customers of this segment. The Company continues to focus on the judicious management of its net working capital.064 equity shares of the face value of ` 10 each consequent to the exercising of Stock Options by its employees. 17. 2010.18 lacs tonnes against 8. However. systematic management of costs and productivity improvements. was ` 2388 crore. Details of Employees’ Stock Option Scheme. 18. This Company is well positioned to undertake large infrastructure contracts. ANI BSIDIAR SUBSIDIARY COMPAN 18. . the total amount of fixed deposits matured and remaining unclaimed as on December 31. The Company’s debt programmes continue to enjoy a ‘AAA’ rating from CRISIL.Directors’ Report crore during the year under review. are set out in Annexure ‘C’ to the Directors’ Report. the Company allotted 5. SHARE CAPITAL APITAL SHARE CAPIT During the year under review.88 crore in 2010 from ` 25.1 ACC Concrete Limited (ACCC L) ACCCL. The growth was driven by consumption in most of the major markets. Operational EBITDA losses during the year were reduced to ` 7. The receivables. 2010 was ` 0. representing an increase of 13%. The concrete market is expected to grow by ~15% in 2011 with overall penetration levels still being very low at ~6%. as required under the SEBI guidelines. New locations adopted a low capital cost route through dedicated on-site and collaboration opportunities.87 crore in 2009 through customer focus initiatives. During the year under review.

TE RNAL CONT ONTR SY MS AND 20. Onne van der Weijde. 2010 in the casual vacancy caused by the resignation of Mr. Bulk Cement Corporation (India) Limited. N. 2010. along with the report of the Board of Directors relating to the Company’s subsidiaries. 2011 has approved a Scheme of Amalgamation for the amalgamation of the wholly owned subsidiaries viz. The Board has placed on record its appreciation of the valuable services rendered by Mr Sumit Banerjee during his tenure as Managing Director of the Company. It is being constantly assessed and strengthened with new / revised standard operating procedures. 2010 and thereafter as the Chief Executive Officer & Managing Director of the Company for the period August 13. The Members of the Company had approved of the aforesaid appointment and terms of remuneration of Mr Kaura by a Postal Ballot. Pursuant thereto various approvals are being sought in the matter. 2013. ACC Concrete Limited. Shah retire by rotation and being eligible. and in terms of the Memorandum and Articles of Association of the Company. Mr.4 The Board of Directors at its Meeting held on February 3. ACC Mineral Resources Limited. Lucky Minmat Limited and National Limestone Company Private Limited with the Company. 2010. S. Sumit Banerjee. pursuant to which the Company has entered into an Agreement with Mr Kaura detailing therein his terms of appointment and remuneration. are annexed. I N T E R NAL C ONT R OL S Y S T E M S AN D T H E I R ADEQUACY ADEQUA The Internal Control System of the Company is well structured and is commensurate with the size. 2010 till August 12. 18. The Board had appointed Mr Kuldip Kaura as the Chief Executive Officer & Managing Director (Designate) for the period August 5. resigned with effect from August 13. offer themselves for reappointment. Lucky Minmat Limited and National Limestone Company Private Limited. the audited statements of account. Mr Lynam holds office up to the date of the ensuing Annual General Meeting (AGM) of the Company. 2010 till December 31. Encore Cement and Additives Private Limited. The Board has also appointed Mr Sushil Kumar Roongta as an Additional Director of the Company with effect from February 3. 2010. Consequent upon the aforesaid appointment. 1956. Mr. 2007. D. tighter internal and information technology (IT) controls. Mr Roongta holds office upto the date of the AGM of the Company and his candidature for appointment as a Director has been included in the Notice convening the AGM. In accordance with the provisions of the Companies Act.18. The major initiative in 2010 was the commencement of the implementation of the 75th Annual Report 2010 37 . 2011. A.3 A udited Statemen ts of accoun ts of the ounts accoun tements Statemen ompany’ y’s Company’s Subsidiaries As required under Section 212 of the Companies Act. Mehrotra and Mr. K. his candidature for appointment as a Director has been included in the Notice convening the AGM. Encore Cement and Additives Private Limited. DIR ECTORS The Board has appointed Mr Aidan Lynam as a Director with effect from April 22. Sekhsaria. scale and complexity of its operations. R. Mr Kaura has ceased to be an Independent Director on the Board with effect from August 5. 1956. who was appointed as Managing Director of the Company on April 1. DIR ECTOR ORS 19. together with the respective Auditors’ Reports thereon for the year ended December 31. Mr. Accordingly.

continued to perform regular internal audits and checks to ensure that internal control systems are properly in place and that responsibilities are being discharged effectively. enlarge its product portfolio and service offerings. It would also leverage on its Infrastructure. The internal control system documentation was also automated in 2010. your Company is committed to execute large projects which are vulnerable to cost and time overruns. BUSI N ESS RISK MANAGEMENT BUSIN RISK MANA ANAGEMENT Your Company continues to utilize a robust Business Risk Management (BRM) process to identify. evaluate business risks and opportunities both at the corporate and at the regional levels.Directors’ Report Governance. which would go a long way in enhancing the IT Governance framework with tighter access controls. the Company is also trying to mitigate this risk by increased usage of alternative fuels and pet coke. enhance its brand equity and visibility. The transformational leadership programme and strategic talent management are steps initiated to retain talent. Projec Risks: ojects Projects Risks: The Cement Industry’s Compound Annual Growth Rate (CAGR) both for the past and for the next five years is ~10% and is capital intensive in nature. The Audit Committee of the Board also reviews the adequacy and efficacy of the internal control system and gives its suggestions for strengthening them wherever required. An analysis of the key business risks of the Company and the mitigation plans are given below: Fuels Risk: The Company requires more than 5 million tonnes of coal to meet its kiln and CPP fuel requirements. There are other additional risks like continuous increase in ash content in coal which impacts kiln productivity. the Company is leveraging its newly created capacities to increase its market share. the dwindling availability of linkage coal is an offshoot of the inability of the local coal producers to meet the current and growing energy requirements of the country. The identified risks and opportunities are integrated into rolling and annual plans. Risk and Compliance Module (GRC). Besides initiating steps to 38 ACC Limited develop its own coal blocks which would partly go to meet its coal requirements. It is also considering the setting up of waste heat recovery plant at certain locations. People Risk: With the industry growing at a hectic pace and demand for experienced and trained manpower outstripping supply. the Sumant Moolgaonkar Technical Institiute at Kymore and the . the ability to retain existing talent and attract new professional talent assumes crucial importance. As already reported elsewhere in this report. The Company is also implementing a tool for automating and e-monitoring legal compliance. Risks: Competition Risks: The Cement Industry is becoming intensely competitive with the foray of new entrants and some of the existing players adopting inorganic growth strategies. 21. The action plans to mitigate the identified risks are thereafter drawn up and its implementation monitored. based on risk assessment. ACC Cement Technology Institute at Jamul. The Company is strengthening its project management team as well as its project accounting and governance frame work to mitigate this risk. The Internal Audit Department. To mitigate this risk. Commercial and Institutional Sales Units to offer value to large customers. As one of the leading players.

R. b) that such accounting policies as mentioned in Note 1 of the Notes to the Accounts have been selected and have been applied consistently. DIR ECTORS’ RESPONSIBI LITY STATEMENT DIRECTOR RESPONSIB ORS’ ESPONSI ST To the best of their knowledge and belief and according to the information and explanations obtained by them. your Directors have appointed Messrs. Subject to the approval of the Central Government. Batliboi & Associates. your Company carries out an audit of cost records relating to cement each year. to audit the cost accounts of the Company for the financial year 2010. enhancing the productive asset and resource base and nurturing overall corporate reputation. ARDS 22. 24. your Company’s operations are committed to the pursuit of achieving the high levels of operating performance and cost competitiveness. Mumbai who retire at the ensuing Annual General Meeting of the Company are eligible for reappointment. your Company views value creation and its enhancement as a primary objective with a view to optimizing value to shareholders. your Company has received many awards and felicitations conferred by reputable organizations for achievements in different areas. 1956. 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. Chartered Accountants. I. As per the requirement of the Central Government and in pursuance of Section 233B of the Companies Act. 2010. N. Members’ attention is invited to the observation made by the Auditors at point (xxi) of their ‘CARO Report issued pursuant to the Companies (Auditor’s Report) Order. consolidating and building for growth. 2010. 1956: a) that in the preparation of the annual accounts for the year ended December 31. AU DIT The Company’s Auditors Messrs. S. if any. and of the profit of the Company for the year ended on that date. SHAREHOLDER ALU HANCI ENHANC 23. and judgments and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as on December 31. ENHANCI NG SHAREHOLDER VALU E Recognizing that shareholders are among its most important stakeholders. 1956 for reappointment as Auditors of the Company. 75th Annual Report 2010 39 . 2003 (CARO Report) which is self explanatory. c) that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act. your Directors make the following statement in terms of Section 217(2AA) of the Companies Act. the applicable accounting standards have been followed along with proper explanation relating to material departures. 25. AWARDS During the year under review. They have confirmed their eligibility under Section 224 of the Companies Act. Accordingly.tie up with certain Government run ITI centres will help your Company in inducting trained manpower to meet its increased skill requirement. Mehta & Co. d) the annual accounts have been prepared on a going concern basis.

Actual results may differ materially from those expressed in the statement. a separate section on corporate governance practices followed by the Company. 30. economic developments within the country and other factors such as litigation and industrial relations. changes in government regulations. read with the Companies (Particulars of Employees) Rules 1975 as amended. CAUTIONARY STATEMENT Statements in the Directors’ Report and the Management Discussion & Analysis describing the Company’s objectives. expectations or forecasts may be forward-looking within the meaning of applicable securities.Directors’ Report ORPORA GOVERNANCE VERNANC 26. PARTICULARS OF EMPLOYEES Information in accordance with the provisions of Section 217(2A) of the Companies Act. together with a certificate from the Company’s Auditors confirming compliance. 1956. Important factors that could influence the Company’s operations include global and domestic demand and supply conditions affecting selling prices of finished goods. ENER ERG ECH NOLO FOREIGN EX 28. Your Directors recognize and appreciate the efforts and hard work of all the employees of the Company and their continued contribution to its progress. dealers. banks. AS23 and AS27 issued by the Institute of Chartered Accountants of India forms part of this Annual Report. ARTICULAR LARS EMPLO 29. is given in Annexure ‘B’ to the Directors’ Report. ENERGY. 2011 ONSOLID FINANC NANCIAL ST EMENTS 27. For and on behalf of the Board of Directors N. CONSOLIDATED FINANCIAL STATEMENTS The Consolidated Financial Statements of the Company prepared in accordance with relevant Accounting Standards viz. tax laws. AC KNOWLEDGEMENTS WLEDGEMENTS KNOWLEDGEMENT Your Directors would like to acknowledge and place on record their sincere appreciation of all stakeholders . S. is set out in the Annexure forming part of this report. laws and regulations. technology absorption and foreign exchange earnings and outgo stipulated under Sec 217 (1)(e) of the Companies Act. TECH NOLOGY & FOREIGN EXC HANGE The information on conservation of energy. are given in Annexure ‘A’ to the Directors’ Report. IONARY ST 31. AS21. 1956. input availability and prices. CORPORATE GOVERNANCE As per Clause 49 of the Listing Agreement with the Stock Exchanges. vendors. shareholders and all other business partners for the excellent support received from them during the year. 40 ACC Limited .customers. Sekhsaria Chairman Mumbai February 3.

2 and 4. resulted in optimization of compressed air system and stopping of high energy compressors at some locations. Energy Monitoring System was installed at Chaibasa. Bargarh and Jamul Plants. is used as transit accomodation for employees coming to ACC Academy for training.Annexure ‘A’ to Directors’ Report (Para 28) Section 217(1)(e) of the Companies Act. As part of modernisation of Bargarh Plant. Commissioning of Variable Voltage Variable Frequency Drives (VVVFD) in Primary Air Positive Displacement Blower and in Packer-4 dust collector fan at Lakheri Plant. was also commissioned during 2010. hooking up of Cement Mill 3 with Distributed Control System (DCS) were completed during the year.certified Platinum under Leadership in Energy and Environmental Design (LEED) by Indian 75th Annual Report 2010 41 O O O O O O O O O O O O O O .Green Building. Modification of compressor pipe line and interconnection of compressors for various sections across ACC plants. Wadi and Gagal Plants for various reciprocating compressors to optimise the operating pressure within narrow band. Kymore. Replacement of conventional lamps with Compact Fluorescent Lamps for plant and colony lighting was done across all ACC plants. Installation of Microprocessor based multi-step capacity controllers at Lakheri. An old building has been converted into a State-of-the-Art . read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules 1988. The second Captive Power Plant (CPP) Boiler. Improvement in Coal Mill Bag Filter fan performance by replacing the existing fan casing at Lakheri Plant and fan impeller at Chaibasa Plant. ONSERV ENER ERG A: CONSERVATION OF ENERGY following energ conser onserv efficiency impro ement measures wer undertak ere taken year (a) The following energ y conservation and efficiency improvement measures were undertaken during the year 2010: O Detailed Energy Audit was conducted at Bargarh and Madukkarai Plants and detailed compressed air audit was conducted at Chanda. Bargarh. Replacement of preheater fan of Kiln-2 at Kymore Plant. in two PA fans of 15 MW CPP at Chaibasa Plant and in 4 cooler fans and mines belt at Gagal Plant. Installation of Rota scale in Kiln coal dosing system at Lakheri Plant and in Kiln 2 at Kymore and Gagal Plants for fine control of coal consumption. Installation of single compressor to stop the operation of two reciprocating compressors at Wadi and Jamul Plants and replacement of compressors at separate Line Calciner at Madukkarai Plant with Positive Displacement Blower. Installation of Programmable Logic Controller (PLC) system was completed at Damodhar Plant. La Residency is the recepient of pre . La Residency. Capacitor banks have been added to the system at Madukkarai. The close circuiting of Cement Mills 1. Replacement of HT motor with DC motor for Induced Draft Fan of Electrostatic Precipitator at Kymore Plant. the 5 stage Pre Heater was converted to 6 stage along with replacement of TA duct. installation of high efficiency fans in cement mills at Jamul Plant and installation of new cooler fan and new main drives for Raw Mills at Gagal Plant. Tikaria and Damodhar Plants. as the building is known. Wadi and Gagal Plants to improve plant power factor. 1956.

05 million units of green energy. The Wind Farm commissioned in Maharashtra generated 3. O O Alternativ tive Alternative Fuels – In 2010.600 tonnes as compared to 77. Green ower Green P ower – O The Wind Farm installed in Rajasthan generated 13. Impact abov measures for reduc eduction energ consumption consequen impact onsequent cost (c) Impact of the above measures for reduction of energ y consumption and consequent impact on cost of produc oduction production The measures stated in points (a) and (b) above. during the year 2010.3 million units generated during 2009. installation of Waste Heat Recovery Boiler is under consideration to supplement the Grid Power.04 million units generated during 2009. for double Platinum Certification under LEED.83 45 17721 723 43874 16. since commissioning in April 2010. The Wind Farm installed in Tamil Nadu generated 21. Form A ower Fuel Consumption Power and Fuel Consumption Current Year Lakh Units (Kwh)@ 1. Accordingly.Directors’ Report Green Building Council (IGBC).96 million units of green energy during 2010. as compared to 25.69 million units of green energy during 2010. The commissioning and stabilisation of expansion projects at Bargarh.30 5840 21971 3.76 Total Cost (` Lakhs) ` Per Unit Lakh Units (Kwh) Previous Year Total Cost (` Lakhs) ` Per Unit 42 ACC Limited . would further improve the thermal and electrical energy efficiency of the plants. The Company is now in the process of submitting documents to IGBC. there was a marginal increase of 2. Installation of VVVFD’s are planned for additional drives identified during 2010 across ACC plants. the Company co-processed 43 different types of industrial wastes as Alternative Fuels and Raw Materials in its different plants totalling to 1.800 tonnes in 2009. Wadi II and Chanda has resulted in a slight increase in electrical energy.01 2.52 2. energ Proposals implemented for further conser onserv (b) Additional Proposals being implemented for further conservation of energ y O O At Gagal.02% in electrical energy over 2009. Electricity a) b) Purchased Own Generation i) ii) Through DG Through Steam Turbine/Generator* 73 17399 915 49216 12.48 5865 25202 4.01. as compared to 14.

Coal (for Kiln)** 21.Current Year Quantity (Lakh Tonnes) 2.cal/Kg of clinker Semi-dry / Dry process 98-110 – Current Year 87 – Previous Year 85 – 720-990 750 746 @ Source: Publication of Confederation of Indian Industries * Excludes non-process power consumption (B) TECH NOLOGY ABSORPTION ECHNOLO ABSORP esearch Development Research & Development 1.Kwh/T of Cement * Semi-dry / Dry process Furnace Oil KLtrs/T Cement Coal for Kiln .40 Previous Year Total Cost (` Lakhs) 86459 Average Rate (` / Tonne) 3860 * Includes WTG generation **Does not include other fuel/alternative fuels used in Kiln Per Produc oduction Consumption Per Unit of Production @ Standard a) b) c) Electricity . Specific areas in which R & D is carried out by the Company areas Compan ompany O Improving quality of blended cement through innovative processing / utilizing industrial by-products for improved quality performance of ACC Plants Conservation of resources through maximizing the use of low-grade limestone for cement manufacture Development of application oriented cements with decreased CO2 emissions Enhanced absorption of blending materials Process / product design improvements Development of new products or discovering new methods of analysis Productivity research for increased efficiency in use of resources Recycling of wastes and research for efficient use of scarce materials Characterization of industrial wastes and looking into possibilities of environment friendly co-processing of wastes in cement manufacture leading to thermal substitution and conservation of natural resources Beneficiations of raw materials and fuels Quality Benchmarking exercise for different market clusters of ACC products 75th Annual Report 2010 43 O O O O O O O O O O .10 Total Cost (` Lakhs) 84635 Average Rate (` / Tonne) 4012 Quantity (Lakh Tonnes) 22.K.

.. .. . Future plan of action O Exploratory research on the above specific areas Focus on development of products aimed at enhancing use of cement in various applications and development of application oriented cement based cementitious material Use of waste / byproducts in cement manufacture as alternative materials Improve product quality particularly with respect to long term durability and reduction in cost of manufacture ` Lakhs . 57 464 521 0.. . .Directors’ Report derived result abov 2.... . . ... . . . ... ... Foreign Exchange Earnings & Outgo Foreign Exchange earned Foreign Exchange used For and on behalf of the Board of Directors N.. . . .. 5183 5245 O O O xpenditure 4.. 2011 44 ACC Limited .. .. ... .. . ... . Benefits derived as a result of above R & D O Effective use of marginal quality raw materials and fuels with improved clinker quality Increased absorption of blending materials in blended cements Effective replacement of the costlier natural gypsum by cheaper (by product) phospho gypsum without affecting the quality of cement Maintain a lead position in all the market clusters of the country Effective use of SPC at each stage of cement manufacture for improving consistency of operations and consistency in product quality Fuel efficiency O O O O O uture action 3.. S. . Expenditure on R & D Capital Recurring (Gross) Total Total R&D expenditure as percentage of total turnover oreign Ex Earnings 5. . . Sekhsaria Chairman Mumbai February 3. ....07% ` Lakhs ...

MSc.COMPLIANCE AND ICS SALES HEAD HEAD .MS B TECH-Elec ME BSc. SAXENA ABHIJIT DUTTA ACHINTYA PAL ANANT KUMAR MAHOBE ASHISH KUMAR SHRIVASTAVA ATUL KHOSLA B SHERDIWALA B.TECH(IIT) MSc BA. BALAJI M.Diploma BCom.PLANT EQUIPMENT POOLING HEAD DIRECTOR .SALES SALES HEAD HEAD .BAINDOOR DEEPAK G DESHPANDE DEEPAK GULATI DR.M TECH BCom. Name No.PROJECTS DIRECTOR .WADI PROJECT HEAD .LLM BCom. PG Diploma.WADI CEMENT CLUSTER HEAD . KAGAZNAGAR.Com B.MMS.BUDGET &PLANNING DIRECTOR .PG Diploma.M PHIL.A.CS. SIVARAMAKRISHNA Remuneration Designation& Gross Nature Of Duties (`) 3389320 2637388 2414775 6785023 2927916 4025907 4196887 2707722 6453740 6023489 3121511 6171440 4873912 4950863 6502842 2782200 3060682 2883799 3107335 2832075 4496050 3052431 3470284 4736267 2884281 2441692 3219134 2909343 2417710 3227273 6017060 11583222 2852348 5008801 3809602 2910997 3822180 3385355 4245309 2851527 2865960 2423568 2440675 DIRECTOR .Diploma BE.POWERHOUSE DIRECTOR . P.PLANT DIRECTOR .PLANT OPERATIONS HEAD . M TECH.MBA BSc.PROJECTS (SALES & MARKETING) PROJECTS PRESIDENT .LLB.PLANT OPERATIONS HEAD .E & I HEAD .SECRETARIAL SERVICES DIRECTOR .K. ICWA BE-Elec BE-Mining BE-Civil BA.SALES VICE PRESIDENT PLANNING & DEVELOPMENT SUPPLIER RELATIONS MANAGER / VENDOR MASTER CONTROL HEAD .PLANT CHIEF MANAGER PROCUREMENT HEAD .R.Phd BE-Electronics BSc.AMIE.ORGANIZATION PLANNING HEAD . AP Voltas Ltd M/S MANIKGARH CEMENT M/S Union Carbide ECE Ltd Nil 75th Annual Report 2010 45 .CIVIL HEAD .REGIONAL FINANCE VICE PRESIDENT .LLB BE.M.FIN PLAN. SAJITH KALIDAS PRAMANIK M.CAPEX (CPO) HEAD .LOGISTICS CHIEF COMMERCIAL OFFICER SALES HEAD DIRECTOR . VENUGOPAL RAO BHARAT PAREKH BIPRAJIT CHAKRAVARTY BK SHRIKHANDE BURJOR DORAB NARIMAN C.FINANCE AND COMPANY SECRETARY (ENCORE) HEAD .Com.FCS BSc (Engg).KURIAN C.ENERGY & ENVIRONMENT HEAD .CA BE-Mech Nil Nil DECKES DEVICES PVT LTD Lohia Starlinger Pvt Ltd Nil NUCLEAR POWER CORPORATION Nil FENNER (INDIA)LTD LAFARGE INDIA PVT LTD Nil Nil Aditya Birla Group Enmiin Engrs Nil BOMBAY DYEING & MFG COMPANY LTD Nil Nil Nil RUSTON AND HORNSBY CO OF INDIA VALVOLINE CUMMINS LTD UNITED NATIONS-INTERNATIONAL LABOUR ORG Nil BHILAI STEEL PLANT ULTRATECH LIMITED M/s Shrikhande HINDUSTAN LEVER LTD Rajashree Cement Nil BHAGWATI DESIGNS PVT.ORGANIZATION MANAGEMENT HEAD .BE BE-Mech BE-Civil Diploma. RAJEN MEHROTRA DR.CA Diploma.Annexure ‘B’ to Directors’ Report (Para 29) Employ for Employed for Full Year Sr.LTD. K. Nil Coromandel Fertilisers Ltd Nil Nil Hindalco IIT ROORKEE INDIAN MILITARY ACADEMY OCM Engineering SIRPUR PAPER MILLS. BUD.PG BSc.OH&S DIRECTOR . COST & REPORTING DIRECTOR .A.DATTA GUPTA JAYANT MURAB JOYDEEP MUKHERJEE K KASTURI K N NARAYANAN K R BALASUBRAMANIAM K S SHARMA K.ENGINEERING Qualification Date Of Total Commencement Experience Of Employment (Years) 1-Jul-82 30-Oct-78 20-Nov-91 18-Nov-85 7-Jan-92 15-Jan-91 1-Mar-84 21-Feb-92 18-Jul-07 19-Mar-84 1-Jun-91 10-Jul-08 4-Apr-05 1-Jul-80 14-Dec-09 9-Sep-96 4-Mar-92 2-Mar-87 30-Mar-85 13-Nov-09 1-Aug-07 8-Dec-80 1-Nov-82 9-Jul-09 26-Mar-79 1-Aug-95 5-Nov-90 8-Jul-91 1-Sep-93 26-Mar-73 24-Jun-88 10-Aug-76 1-Aug-84 21-Jun-07 19-Oct-81 20-Mar-78 1-Dec-93 12-Dec-81 3-Dec-93 30-Jun-95 29-Feb-96 3-May-93 24-Aug-92 29 32 20 25 19 27 27 20 28 27 21 33 31 31 36 14 19 24 28 12 40 31 33 26 36 16 27 20 21 37 31 35 27 23 32 35 37 35 28 28 17 23 18 Age in Years 52 54 43 48 42 52 46 43 52 53 42 57 53 52 56 36 44 51 53 37 66 51 56 48 59 43 51 45 44 59 51 57 48 44 54 60 59 56 52 48 43 48 44 Last Employment BSc.M.KRISHNAMOHAN C.PLANT VICE PRESIDENT .Phd BSc.MSc BE-Civil BCom.PLANT PRESIDENT .SAXENA G N PANDEY G P TIWARI G R TALWALKAR GOUTAM GOSWAMI GURURAJ KULKARNI H S RATHORE HARDEEP SINGH J N DHONDY J V B SASTRY J.PLANT COMPANY SECRETARY & HEAD COMPLIANCE GENERAL MANAGER DIRECTOR .PG MECHANICAL MSc ( Tech). 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 A G SINGEWAR A K PANDEY A K PATIL A.MSc.LOGISTICS CHIEF KNOWLEDGE OFFICER DIRECTOR .ENGINEERING HEAD .ICWA BE.M Tech-Civil BE-Mech BSc (Engg) BE-Mech B TECH.M TECH BE B TECH (HONS) MINING B TECH BCom.M. MFG.CA MBA. NARAYANA RAO K.BE BE-Mech BSc.PGD-IR ICWA.

RAJESH SETH RAJIV KUMAR RAJIV PRASAD RAJU J. Corporation M/s. FUELS.BAGS EXECUTIVE ASSISTANT .MPM.LLB.LEGAL SERVICES DIRECTOR . PGDBA BE BE Bcom.CENTRAL LOGISTICS DIRECTOR . Diesel Care Planning Commission Government Of India SYNTHETIC FOAMS LTD ANCL KELVINATOR INDIA LTD Nil Nil ABC India Ltd HALONIX LIMITED Essel Group THE INDIA CEMENT LTD Holcim Ltd Nestle India Nil CENTRAL POLLUTION CONTROL BRD Nil LOVELOCK LEWIS Nil SHAWWALLCE & CO Nil Morarjee Mills(Piramal Organic Chemicals) 46 ACC Limited .LOGISTICS HEAD .PG Diploma BSc. Remuneration Designation& Gross Nature Of Duties (`) 5931242 3141864 2682744 2541617 4903475 2747918 4656231 2898304 3559563 2889917 2846304 2610667 7753680 3864370 2413680 2909963 2962943 3071054 3571313 5783094 2580534 7093623 3851440 3210978 2415467 3339044 6951509 6560388 14400692 4405694 4258076 10961292 7575246 13247722 4498050 2902936 4397805 2833722 2471843 3263583 5781435 DIRECTOR . MBA B Tech.Phd MSc BCom.MBA BE.PLANT GENERAL MANAGER OPERATIONS SR.PLANT HEAD .CORPORATE COMMUNICATION DIRECTOR . MSc Chemistry 50 41 45 48 55 50 49 50 46 40 49 49 55 49 38 40 38 48 55 54 48 58 58 42 49 38 54 48 49 50 54 50 42 60 52 55 53 51 50 52 55 Lakshmi Cement ULTRA TECH CEMENT LTD CCI CHARKHI DADRI GMR GROUP OF INDUSTRIES Nil GUJ. DMS MSc.REGIONAL AUDIT COMMODITY HEAD .SALES HEAD . DIESEL.PLANT LARGE PROJECTS PROCUREMENT HEAD DIRECTOR .FINANCE HEAD . BOARD Nil AIR CONDITIONING CORPN LTD Voltas Ltd RELIANCE INDUSTRIES LIMITED Nil M/S J.CA.ORGANIZATION DEVELOPMENT DEPUTY CHIEF INTERNAL AUDITOR HEAD .PRICING AND MARKET INTELLIGENCE.K.HR DIRECTOR .PG Diploma BE BCOM. PGDBM BCom.MBA BE BE-Mech. MISRA RAKESH SINHA RAMIT BUDHRAJA RANJAN SACHDEVA RAVINDER MOHAN S B SINGH S RAM MANOHAR S VISWANATHAN S.TECH.SALES CHIEF EXECUTIVE NORTH REGION HEAD . ELEC. MISHRA MAHENDRA KUMAR SWAMI MANOJ JINDAL MEEMANSHI RANGACHARYA MG DAMLE MR RAJIV BHAGAT N KESHAV N S NAIDU NAUSHAD NOORANI NILESH LIKHITE P HANDA P K GUPTA P N IYER P R MAJUMDAR PANDEY PRAVEEN PARIKSHIT OBERAI PRASANTA PAUL R J MODI R NAND KUMAR R S RATHORE R SUBRAMANIA SARMA R VASUDEVAN R VENKATRAMANI RAJ SRINIVASAN RAJEEV GUPTA RAJEEV K. CA. CA BCom.PLANT CHIEF EXECUTIVE SOUTH WEST REGION CHIEF INTERNAL AUDITOR CHIEF PROJECT IMPLEMENTATION OFFICER DIRECTOR .Directors’ Report Sr.PG Diploma BA.ICWA MBBS.MBA BE BSC. Nil Bennet Coleman Co Ltd Nil NEW STANDARD ENGG ESSEL CORPORATE RESOURCES PRIVATE LIMITED Rajasthan Ind.PLANT COMMODITY HEAD IMPORTED COAL. HEAD .PG Diploma BA. MBA BE.PLANT OPERATIONS(NWP) GENERAL MANAGER OPERATIONS DIRECTOR . MBA BSc.PRODUCT INNOVATION & DEVEVELOPMENT GENERAL MANAGER . LTD.MSc BE BE BE-Mech BCom.MBA BTECH.LLB BE B.E & I HEAD . SHANKAR S.K. LUBE HEAD .CA.MD HEAD .ACCOUNTING.CHANDA PROJECT DIRECTOR .PLANT HEAD . VICE PRESIDENT PROCESS HEAD .ICWA BE-Mech B Sc.PLANT OPERATIONS DIRECTOR .QUALITY & PRODUCT DEVELOPMENT Qualification Date Of Experience Commencement Of Employment 10-Feb-85 16-Jan-06 25-Jul-92 12-Nov-07 13-Sep-76 1-Jun-82 27-Sep-84 29-Oct-84 1-Jul-08 15-Oct-08 28-Aug-85 12-Mar-85 2-Jan-09 6-Apr-87 18-Jul-94 14-Jul-08 8-Sep-97 31-Oct-84 8-Jun-09 26-Jul-80 13-Feb-93 7-Dec-77 18-Nov-82 5-May-93 9-Jul-85 18-Jul-94 1-Jun-78 2-Jun-89 27-Nov-09 7-Mar-08 24-Dec-09 1-May-06 11-Apr-07 2-Aug-71 3-Dec-84 20-Jun-78 6-Mar-85 1-Aug-86 14-Apr-92 11-Feb-85 1-Apr-81 26 18 25 25 34 30 26 27 23 17 25 26 29 27 17 13 13 26 32 33 29 34 31 20 27 17 32 24 21 27 29 24 20 41 30 33 30 25 30 26 33 Age Last Employment 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 M.S. CEMENT WORKS NIMBAHERA (RAJSTHAN) NMDC DEVELOPMENT CONSULTANT PVT. CONSOL & SHARED SERV CHIEF MANAGER .V.MBA B COM.CS.DATAR SA KHADILKAR BE BE B Tech BE BSc. ICWA.GEOLOGICAL SUPPORT HEAD . Name No.CAPEX CONTROLLING HEAD . Minerals Dev.CA. ICWA B Tech-Production BE-Mech.DASGUPTA S.K.ICWA Bcom.MMS BCom.OCCUPATIONAL HEALTH CHIEF MANAGER LOGISTICS DIRECTOR .REGIONAL FINANCE HEAD .

REGIONAL FINANCE CEO & MANAGING DIRECTOR CHIEF MANAGER PROCUREMENT HEAD .EMPLOYEE RELATIONS HEAD .Sr.V.OPERATIONS SUPPORT Qualification Date Of Total Commencement Experience Of Employment (Years) 11-May-76 6-Jan-10 2-Jan-09 1-Aug-71 14-Jun-10 13-Oct-81 4-May-10 16-Dec-09 19-May-82 3-Jan-77 26-May-10 5-Aug-10 12-Nov-10 4-Nov-78 1-Feb-71 3-Apr-72 35 11 23 39 30 29 34 14 32 34 15 40 14 32 39 39 Age in Years 59 34 47 60 51 53 55 40 57 61 35 63 36 57 60 62 Last Employment BSc.CA M. Name No. LTD. MORGANTOWN ALPIC FINANCE LTD.PLANT HEAD .B TECH BE. WEST VIRGINIA UNIVERSITY.E & I Qualification Date Of Experience Commencement Of Employment 10-Sep-09 13-Jul-09 11-May-82 16-Oct-08 11-Dec-98 20-Feb-08 12-May-80 17-Feb-92 14-Aug-08 31-Mar-84 7-Aug-72 1-Feb-90 11-Feb-81 16-Oct-84 1-Mar-95 10-Nov-78 22-Sep-08 5-May-80 1-Jul-96 19-Nov-79 17-Feb-92 3-Jan-94 29-Aug-07 26 28 38 20 28 22 31 19 28 30 39 24 30 27 28 33 27 33 31 34 21 17 17 Age Last Employment BSc (Engg).BUSINESS PLANNING B Tech. MAHINDRA & MAHINDRA LIMITED GRAVER & WEIL LTD.Com.A B TECH BE B.M TECH BE-Mech B Tech BSc (Engg) 47 50 52 42 52 43 55 41 51 53 62 47 51 49 52 58 54 56 53 57 43 50 38 MOSER BAER PROJECTS PVT.PG Diploma BE.A BSc.PERFORMANCE MANAGEMENT LARGEPROJECTS PROCUREMENT HEAD DIRECTOR .GAMP (ISB/Kellogg) M.PLANT OPERATIONS HEAD .HR CHIEF PUBLIC AFFAIRS OFFICER GENERAL MANAGER .A BE BSC. VICE PRESIDENT .AMIE BE-Mech B TECH.E & I HEAD .FINANCE & CONTROLLING HEAD .PLANT OPERATIONS HEAD . 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 A P GUNISHASTRI AJEET KUMAR MODI ANAND MOHAN SHUKLA ARUN MAHAJAN CHACKO ANTONY CHANDER SHEKHAR GAUTAM PADUKONE HEMKIRAN HIRAMAN JAGTAP J L TIWARI K R KULKARNI KANHAIYA GUPTA KULDIP K KAURA LATCHOUMINARAYANAN G N B SHEMBAVNEKAR NARINDER KUMAR CHIBBER NAVEEN CHADHA Remuneration Designation& Gross Nature Of Duties (`) 1020500 3542862 2828550 2466192 1655065 3837857 1858241 1252646 2129450 211003 1406636 14445747 555439 1113683 2432155 659481 HEAD . BIT BE-Mech BSc BE BSc.EAST REGION BE MINING HEAD .MBA MSc B TECH. Name No. PARLIKAR UTPALENDU MUKHERJEE V CHANDRASHEKAR V K SARDA V SADASIVAM V Y BEDEKAR VIKRAM GUPTA VIVEK CHAWLA Y V KRISHNA KUMAR Remuneration Designation& Gross Nature Of Duties (`) 4026310 12458064 3589979 3111624 3675100 2769058 4936857 3482451 11185619 2739667 9593634 3086611 2425024 3689183 5056330 2714017 3002288 2563736 2882612 3551351 3266095 9460607 2798179 VICE PRESIDENT COAL BUSINESS CHIEF CENTRAL PROCUREMENT OFFICER HEAD .LEARNING & DEVELOPMENT HEAD . KINI U.SUB.FCS.PROJECTS HEAD .MBA BSc.ME. NATIONAL PRODUCTIVITY COUNCIL ZELL IATE LTD SUN SOFTWARE SYSTEMS Grasim Ind.B Tech BE-Elec Diploma.A. 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 SARIPUTTA MISHRA SHAKTI ARORA SHARAD KUMAR SHRIVASTAVA SIRSENDU ADHIKARI SIVAKUMAR GOPALAN SONALI SARMA SUDHIR KUMAR DAS SUNIL GUPTA SUNIL NAYAK SURAJIT SEN T N TIWARI T VIJAY KUMAR TAPENDU DATTA U. LTD. PGDM.M.TALENT MANAGEMENT DIRECTOR .LLB.ICWA BE BE-Mech.CA DIRECTOR .PROCESS BE-Mech.BE( CHEM) BCom. Ltd ABHISHEK INDUSTRIES VICE PRESIDENT . RELIANCE RETAIL LIMITED Sahyadri Dyestuff & Chemicals Ltd Nil ITC LTD VEDANTA RESOURCES PLC WHEELABRATOR ALLEVARD Nil Nil Nil 75th Annual Report 2010 47 .PROCESS DIRECTOR .SPECIAL PROJECTS D .CMT & QUALITY MANAGEMENT DIRECTOR .Phd BCom..PLANT HEAD .FCA.MHRM BSc BSc Nil RELIANCE INDUSTRIES LTD SABMILLER INDIA PVT LTD Nil Rockwell automation NAVEEN CHEMICAL MANUFACTURING FLS MIDTH PVT.MINING SUPPORT DIRECTOR . AICWA BCom.LLB. PG Diploma.PG Diploma HEAD .PUBLIC AFFAIRS SR.PROCESS CONTROL .MBA Employ for part Financial Employed for part of the Financial Year Sr.SW-SU-THN HEAD .AFR BUSINESS HEAD . AICWA.TAXATION BCom.LTD. AND ASSOCIATE COS HEAD .BARGARH PROJECT GENERAL MANAGER .CORPORATE FINANCE & TREASURY CHIEF PEOPLE OFFICER HEAD .PLANT CHIEF FINANCIAL OFFICER HEAD . ESSAR GROUP Hindustan Cooper Ltd Nil CLARIANT CHEMICALS INDIA LIMITED M/S HILTON RUBBERS LTD Nil M/s Bhadrachalam Paper Board LTD Nil BOMBAY OXYGEN LTD National Peroxide Ltd M/S TISCO Colliery LAFARge India PVT LTD ACME PROCESS HEAT FURNACES PVT.CA Master Degree in Social Work.LOGISTICS BE-Computer CHIEF EXECUTIVE .

(III) All the employees have adequate experience to discharge the responsibility assigned to them. allowances. PGDM. RAM BABU Y V SATYAMURTHY Remuneration Designation& Gross Nature Of Duties (`) 1566158 2618027 1483136 2159771 1112201 2292795 390161 2248528 1805742 1769115 267774 1573230 1218421 832911 3838851 22399742 985601 1637482 850274 4758331 1904073 2529577 SALES HEAD HEAD .MHRM BE.AFR REGIONAL SUPPLY CHAIN DEPUTY GENERAL MANAGER-ENVIORNMENT HEAD .CA BCom. Sekhsaria Chairman Mumbai February 3. PGDM BSc. (IV) The nature of employment in all cases in is contractual. monetary value of perquisites. incentive. MBA B Tech-Mech B Tech-Chem. S.PAYROLL HEAD .Diploma Marketing B Tech-Mining B Tech-Chem BE-Mech BTECH. K. P.ADMINISTRATION DIRECTOR .K.PAYROLL CHIEF MANAGER . BIDYANTA TIRATH SINGH SAPRA V.FERGUSON AND COMPANY M/S JOHNSON & JOHNSON OF INDIA KUDOS CHEMIE LTD BALTECH SYSTEM LTD HINDUSTAN UNILEVER LIMITED BHARAT GEARS LTD SAMSUNG ELECTRONICS INDIA PVT LTD Nil ULTRATECH MTAR TECHNOLOGIES PRIVATE LIMITED TUBE INVESTMENT INDIA LTD.CA BA. (II) In addition to the above remuneration.SALES CHIEF MANAGER MECHANICAL PROJECT PLANNING AND MONITORING HEAD Qualification Date Of Total Commencement Experience Of Employment (Years) 14-Jun-95 16-Apr-85 7-Feb-74 1-Mar-93 3-Mar-97 1-Aug-86 11-Aug-70 1-Feb-10 2-Sep-02 4-Sep-08 6-Jun-77 9-Jun-10 2-Aug-86 1-Sep-10 25-Jan-10 1-Jan-07 8-Mar-77 9-Oct-95 7-Nov-07 9-Feb-87 5-Jan-95 17-Aug-81 22 29 37 29 30 27 40 11 19 27 36 16 26 12 25 32 34 28 25 24 28 29 Age in Years 43 54 60 51 57 50 61 43 43 48 61 40 49 34 50 54 57 60 47 50 49 53 Last Employment BSc.F.ME SPARTEK CERAMICS NMDC Nil ASIAN PAINTS LTD Rajinder Steel Ltd A. employees are entitled to Gratuity in accordance with the Company’s rules.CA B Tech MSc BE-Mech B Tech BA.REGIONAL HR HEAD .Directors’ Report Sr.SHRIVASTAVA.MBA BE. (I) For and on behalf of the Board of Directors N.HR HEAD . K. 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 P M PHADNIS P. Nil VOLTAS LIMITED DATAMATICS LTD Nil M/S AP HEAVY MACHINERY & ENGG Nil NOTES :Gross Remuneration shown above is subject to tax and comprises salary.MBA BCom.MBA MSW BSc. encashment of leave consequent upon change of leave policy and Company’s contribution to Provident Fund and Officer’s Superannuation Fund.LLB.BCCI HEAD .HR CHIEF MANAGER SHIPPING & YARD HEAD . 2011 48 ACC Limited .PLANT OPERATIONS DEPUTY GENERAL MANAGER-PRODUCTION HEAD-PROJECTS(OPC) HEAD . AGNIHOTRI V.SRINIVASAN R A BHATIA R B S BIR R PADMANABHAN R R IYER RAJESH JAMWAL RAJESHKUMAR L. SARADA RAVI PURANIK S KRISHNAMURTHY SAMAR BANERJEE SHRIKANT DATTATRAYA KARMALKAR SRIDHAR NEMANI S SUDIPTO BHATTACHARYA SUMIT BANERJEE SUNIL TIWARY T.LLB BA.BUSINESS PLANNING HEAD . Name No.TAXATION & SPECIAL PROJECTS MANAGING DIRECTOR HEAD . BCom.CSR HEAD TREASURY (INTERIM)-HO HEAD .

000 (on 31. equal to or exceeding 1% of the issued capital (excluding outstanding warrants and conversions) of the company at the time of grant.31. (BSE) during the period of ninety days immediately preceding the date on which the options were granted). The employees are entitled to get one equity share per option .336 6.47. (The closing market price on BSE as on the date of grant was ` 133) 6. b. i. Nil Nil 75th Annual Report 2010 49 . No discount on the above price was granted by the Compensation Committee. Pursuant to the Resolutions passed by the shareholders at the Annual General Meeting held on July 12.30. Money realised by exercise of Options. and Employees’ Stock Purchase Scheme) Guidelines.31. d.2001) @ ` 127 (Being the average of the daily closing price of the Equity shares of the Company on the Bombay Stock Exchange. ESOS 2001 Financial Year 2001 – 2002 a. 1999. j. e. Options Lapsed Variation of terms of options Total number of options in force.203 Nil ` 802. 2001 the Compensation Committee of Directors had granted Stock Options to eligible employees and former Managing / Wholetime Directors for the financial year 2001-2002. f.797 98. Employee wise details of options granted to : (i) Senior Managerial Personnel (ii) Any other employee who receives a grant in any one year of option amounting to 5% or more of option granted during that year. (iii) Identified Employees who were granted option during any one year. The details of the Stock Options are given here below. h. g. Options granted The pricing formula 7.38 lacs Nil Nil c.797 6.Annexure ‘C’ to Directors’ Report (para 16) Statemen pursuant tement ‘Disclosure Direc ectors’ Repor eport SEBI (Employ Statement pursuant to Clause 12 ‘Disclosure in the Directors’ Report ’ of SEBI (Employees’ Stock Option Scheme Employ Pur urchase Guidelines.10. Options vested Options exercised The total number of shares arising as a result of exercise of options.

17. For and on behalf of the Board of Directors N. including the following weighted average information : (i) risk free interest rate (ii) expected life (iii) expected volatility (iv) expected dividends and (v) the price of the underlying share in market at the time of option grant N/A N/A NOTE :The Employee Stock Option Scheme 2000 (ESOS 2000). Diluted Earnings Per Share (EPS) pursuant to issue of shares on exercise of option calculated in accordance with Accounting Standard (AS) 20 . 2011 50 ACC Limited .11. A description of the method and significant assumptions used during the year to estimate the fair values of options. S. Where the company has calculated the employee compensation cost using the intrinsic value of the stock options.12. Hence the details of those schemes are not included in the above statement.09. n. the difference between the employee compensation cost so computed and the employee compensation cost that shall have been recognized if it had used the fair value of the options. Sekhsaria Chairman Mumbai February 3.12. 19. N/A m.2009 respectively. 7.2005.62 l. the Employee Stock Option Scheme 2002(ESOS 2002). the Employee Stock Option Scheme 2003 (ESOS 2003) and the Employee Stock Option Scheme 2004(ESOS 2004) expired on 7.2008 and 16. The impact of this difference on profits and on EPS of the Company shall also be disclosed.Earnings Per Share. Weighted average exercise prices and weighted average fair values of options shall be disclosed separately for options whose exercise price either equals or exceeds or is less than the market price of the stock.2007. shall be disclosed.Directors’ Report k.

business plans and monitors corporate performance. responsibility and accountability are clearly defined. b. Compliance Committee. Management Structure – Management Structure for running the business of the Company as a whole is put Management Structur ture in place with appropriate delegation of powers and responsibilities which broadly is as under: Direc ector a. Your Company has complied with the requirements of Corporate Governance as laid down under Clause 49 of the Listing Agreement with the Stock Exchanges. ensures transparency in corporate dealings and compliance with laws and regulations. ompany’ philosophy y’s Corpor orpora Gov Company’s philosophy on Corporate Governance ACC’s philosophy on Corporate Governance is embedded in the rich legacy of ethical governance practices most of which were in place even before they were mandated. the Board reviews and approves corporate strategies. For this purpose. He gives strategic directions. This has enabled your Company to earn the trust and goodwill of its investors. Each of these Committees have been mandated to operate within a given framework. Chief Executive Officer and Managing Director – The Chief Executive Officer and Managing Director is Executive Officer responsible for the day to day management of the Company subject to the supervision. It directs and guides the activities of the Management towards the set goals and seeks accountability with a view to create long term sustainable growth that translates itself into progress. The Committee of Directors – With a view to have a more focused attention on various facets of business and Committee Direc ectors for better accountability. the Board has constituted the following main Committees viz. Managing Committee – The Company has formed a Managing Committee which is composed of the Committee Chief Executive Officer and Managing Director. It also sets standards of corporate behaviour. functions. prosperity and the fulfillment of stakeholders’ aspirations. policy guidelines and also ensures implementation of the decisions of the Board of Directors and its various Committees. GOVERNANCE STRUCT VERNANC RUCTU GOVERNANCE STRUCTU R E ACC’s Corporate Governance structure is as under: i.Corporate Governance The Directors present the Company’s report on Corporate Governance. Its primary role is fiduciary in nature and is responsible to the Members of the Company for creating and enhancing shareholder value and fulfillment of societal aspirations. Compensation Committee and Shareholders’ / Investors’ Grievance Committee. employees and the communities in which it operates. Audit Committee. business partners.The ACC Board plays a pivotal role in ensuring good governance and for the creation Board Direc ectors of shareholder value. ii. Chief Executives of the Regions and Corporate Functional 75th Annual Report 2010 51 . The Board of Directors . ACC’s strong sense of values and robust business practices ensures responsible and transparent leadership both at the Board and at the Management level and is geared to fulfill the aspirations of its various stakeholders. Its style of functioning is democratic and its role. iii. direction and control of the Board of Directors.

there were five Independent Directors on Board. 2011. Sekhsaria is the Founder-Promoter and current Chairman of Ambuja Cements Limited.Corporate Governance Heads. East and South West. Mr. Sekhsaria (Chairman): Mr. S. Sekhsaria built Ambuja Cements Limited into a benchmark for Indian Industry. This Committee is a brain storming and consultative Committee where important business issues are discussed and decisions taken within the framework of the strategic policies laid down by the Board. North. Regions Executives at Chief Executives at the Regions – The entire business operations of the Company has been divided into three Regions. (Chairman): Mr. 2011. At the Meeting of the ACC Board held on February 3. His acumen as an entrepreneur and technocrat turned that Company into the most efficient and profitable cement company in India and redefined industry practices by changing the perception of cement from a commodity to a branded product. In 2006. Director Plant – The Director Plant is responsible for operation and maintenance of the Plant and all other Direc ector Plant functions relating to the day to day management of the Plant. c. In a career spanning over 30 years. Kuldip Kaura as Chief Executive Officer and Managing Director. Consequent upon the appointment of Mr. Mr. Sekhsaria is a doyen of the Indian Cement Industry and one of the most respected business personalities in India. Each Region is managed by a Chief Executive. Mr. including all local issues and compliances as applicable at the plant level. viz. Sushil Kumar Roongta. Sekhsaria took over as Chairman of the Board. The brief profile of the Company’s Board of Directors as on February 3. 2010. The Director Plants report to the Chief Executives of their respective Regions. S. The Chief Executives are responsible for the overall business and the day to day management of operations within their respective Regions. N. S. The Chief Executive Officer and Managing Director chairs the Managing Committee Meeting. Sekhsaria was invited to join the ACC Board in 1999 and was appointed Deputy Chairman in January 2000. 52 ACC Limited . he has introduced new standards in management. The Chief Executives report to the Chief Executive Officer and Managing Director. marketing. The majority of the Directors on the Board including the Chairman are Non-Executive Directors. Mr. N. one vacancy of an Independent Director was required to be filled in by January 31. Mr. efficiency and corporate social responsibility to an industry he has helped transform. who bring in a wide range of skills and experience to the Board. former Chairman of Steel Authority of India Limited (SAIL) was appointed as an Independent Director. Sekhsaria championed community development by establishing the Ambuja Cement Foundation and guiding it into a model of excellence in social responsibility. Mr. 2011 is as under: Mr. As on December 31. d. ARD DIR ECTOR ORS B OARD OF DIR ECTORS Board Composition of the Board The Board of Directors is composed of professionals drawn from diverse fields.

Regulatory Environment. Markus Akermann: Mr. Thailand. Mr. Naresh Chandra: Mr. Bangkok. logistics and overall cost-competitiveness. He was also the Managing Director of Kerala Industrial & Technical Consultancy Organisation Limited. He is the Chairman-Emeritus of Rashtriya Gramin Vikas Nidhi and a Trustee of Bombay Community Public Trust. Mr. natural resources. was Chairman of Committee of Civil Aviation Policy. Limited. Gallen.) from Birla Institute of Technology & Science (BITS). Kuldip Kaura (C EO & MD): Mr. Naresh Chandra. LL. mining etc. Stockholm. metals. In 1978. He has held various important positions including that of Governor of the State of Gujarat and India’s Ambassador to the United States of America. Com. Pilani and has also attended various Executive Education Programmes at London Business School and Swedish Institute of Management. Ministry of Civil Aviation. U. Mr. he also served as CEO of Siam City Cement. The Bombay Dyeing & Manufacturing Co. Naresh Chandra: Mr. U. set up to provide consultancy service to micro. CIIB (London).K. Gallen in 1973 and studied Economics and Social Sciences at the University of Sheffield. He has served in senior capacities with various reputable companies including as Managing Director of ABB India Limited and as Chief Executive Officer of Vedanta Resources Plc. He joined Holcim Group Support Limited in 1980 as Project Manager and in 1994 was appointed as Area Manager for Holcim Limited. The impact of this guidance shows in the high growth trajectory ACC has experienced since 1999. he was honoured with Padma Vibhushan by the Government of India. He is a Director on the Boards of leading companies viz. Tata Steel Limited. S. Kuldip Kaura holds a degree in Mechanical Engineering. Mr. He has been a Member of the Executive Committee since January 1. He is a distinguished member of the Indian Administrative Service (IAS) and former Cabinet Secretary to the Government of India. In the year 2007. He is a Director on the Boards of various companies. Naresh Chandra is a post graduate in mathematics from Allahabad University. He is the Vice Chairman of Ambuja Cements Limited. Under his leadership.With his considerable wealth of experience. Tata Motors Limited. and a degree in Economic Science from the University of St. Paul Hugentobler (Deputy Chairman): Mr. Mr. 2002 with the responsibility for South Asia and ASEAN excluding Philippines. S. Markus Akermann obtained a degree in Business Economics from the University of St. Kaura has rich experience in leading businesses and companies in diverse sectors such as power. small and medium enterprises. Saana (North Yemen) and Industrial Bank of Sudan. He has also acted as an Advisor to Industrial Bank of Yemen. brand building and Sustainable Development in India. Sekhsaria brings immense value to the Board of ACC. He has served on numerous important Committees including as Chairman of Corporate Governance Committee instituted by the Government of India. CAIIB. Palia: B.K. Paul Hugentobler Mr. In 1993. Markus Akermann: Mr. He was with IDBI from 1964-1989 during which period he held various responsible positions including that of Executive Director. Mr. he moved to Holcim where he was active in a number of roles including Area Manager for Latin America and Holcim Trading. M.S. B. Mr. Mr. ACC has achieved significant improvements in the areas of project management. Mr. Palia is a Development Banker by profession. Zurich. and has deep understanding of Corporate Governance. Kuldip Kaur (C aura MD): Mr. he was appointed 75th Annual Report 2010 53 . and U. Palia: Mr. Paul Hugentobler obtained a degree in Civil Engineering from the ETH. BE (Hons. He began his professional career in 1975 with the former Swiss Bank Corporation. Khartoum (Sudan) under World Bank assistance programmes.. From 1999 until 2000.

He is presently a Non-Executive Director on the Company’s Board with effect from April 1. Under his leadership. Anti Trust Laws. Institute of Engineers. Mergers and Acquisitions. Lynam is presently in the services of Holcim Limited and is Area Manager responsible for Vietnam. Chartered Member of the British Institute of Manufacturing Engineers (C. Mr. Shah: Mr. Chartered Accountants and Chairman of BDO Consulting Pvt. Bangladesh.. 2011): Mr.E. Narula has been closely associated with the Company for over 45 years in various senior positions at plants and in the Corporate Office including that of Managing Director of the Company from December 1. L. Sushil Kumar Roongta (appointed on February 3.I. Roongta holds a degree in Bachelor of Engineering from Birla Institute of Technology & Science (BITS). Mr. M. Shah is a leading Solicitor and a Senior Partner of M/s. Lynam also represents South Asia / ASEAN Region for IT shared services (HSEA). Mr. He represents LIC on the ACC Board. a firm of Advocates & Solicitors. Technology and Licence Agreements. A. Lynam is a Member of the Institute of Engineers of Ireland (M. otra: Mr. Switzerland. He served a three year term on the Standards Advisory Council of the International Accounting Standards Board. Mr. Mr.Sc.E. Mr. Mr. Company Law and Taxation. Zurich. Pilani and a Post Graduate Diploma in Business Management – International Trade from the Indian Institute of Foreign Trade (IIFT). Aidan Lynam holds a degree in Engineering from the University College of Dublin and an MBA from IMD. Mr. He is a Fellow of All India Management Association (AIMA).E. L. Lynam: Mr. K. Graduate from Punjab University and Fellow. He serves as Member on the Managing Committees of ASSOCHAM and IMC and on Corporate Governance Committees of ASSOCHAM and CII and is Chairman of the Global Warming Committee of IMC. Joint Ventures. He is on the Board of Directors of several listed and private companies. Narula: B. Ltd. Lausanne. Sc. R. New Delhi. Narula has vast experience and in depth knowledge of the Cement Industry. Roongta was the former Executive Chairman of Steel Authority of India Limited (SAIL). 2002 till his retirement on March 31. He specializes in a broad spectrum of corporate laws in general. Mehrotr Mr. ebruary Februar appointed Kumar Roongta (appoin Mr. D.I.I). Mr. R.. Singapore. Mr. Mehrotra is the Managing Director of Life Insurance Corporation of India (LIC) and is also a Director on the Board of Directors of some of LIC’s Subsidiary Companies within and outside India and other public limited companies. He is also on the Audit Committee of some of the companies on which he is a Director. Switzerland. He is a Director on the Board of various public limited companies and is Chairman of the Board in many of these companies. with special focus on Foreign Investments. Mr.). Sri Lanka. Aidan Lynam: Mr. Mehrotra: B.A. 2007. Mr. Shailesh Haribhakti is the Managing Partner of Haribhakti & Co. Shailesh Haribhakti: Fellow Chartered Accountant. He was appointed Chief Executive Officer of Holcim Limited in 2002. Malaysia and Cambodia. Mr. Mr. Intellectual Property Rights. Mr. D. Mr. Industrial Licensing. Engineering (Electrical). (Honours).Corporate Governance to the Executive Committee with responsibility for Latin America and international trading activities. 2007. Narula is also a Director on the Boards of other Indian and Foreign Companies and is a Senior Advisor to Holcim Group Support Ltd. He is a Committee Member of Futures & Options segment of National Stock Exchange of India Limited and a Member of the SEBI Committee on Disclosures and Accounting Standards. Mr. SAIL achieved new benchmarks in operational and financial performance and was ranked second among “World 54 ACC Limited .Eng M. Geocycle and OH&S Core Group. Crawford Bayley and Co. In addition to the above.

K. Aidan Lynam Mr. Mr.2002 05.1999 06.Class Steel Makers” by World Steel Dynamics. Mehrotra Mr. Roongta is a recipient of a number of awards including SCOPE Award for excellence and outstanding contribution to the Public Sector Management – Individual Category 2008. R.2005 28.2005 01.2006 22.2007 14. D.05. Palia Mr. N.10. Sekhsaria Mr.2006 17.01. SAIL was conferred the status of “Maharatna” by the Government of India in 2010 being one of the four PSUs to be awarded this status.02. Paul Hugentobler Mr.2009 to 04.01. Mr. M. L. Markus Akermann Mr. S.04. Naresh Chandra Mr. M.08.10.05.2010 03. Sushil Kumar Roongta 75th Annual Report 2010 55 .2010 25.02.2005 24. Shailesh Haribhakti Mr. Kuldip Kaura 27. Shah Mr.05.2010 05. USA.2011 Non-Executive Non-Executive Non-Executive / Independent Executive Director Non-Executive / Independent Non-Executive / Independent Non-Executive Non-Executive Non-Executive / Independent Non-Executive / Independent Non-Executive / Independent Non-Executive Non-Executive / Independent 3 3 4 7 7 12 2 2 4 15 15 1 7 2 2 2 4 8 2 5 5 2 1 2 1 5 5 1 Mr.08. A. Roongta was on the Governing Boards of reputable academic institutions and is on certain Committees constituted by the Government of India and Chambers of Commerce & Industry. Narula Mr. Directorships: ectorships: Direc The details in regard to the number of Directorship(s) held in Indian public limited companies and the position of Membership / Chairmanship of Audit Committee and Shareholders’ / Investors’ Grievance Committee in such Indian public limited companies are given below: Direc ector Name of the Director Date Date of Appointmen tment Appointment tegory Category Number of Directorship(s) ectorship(s Directorship(s) held in Indian Public Limited Companies AC (including ACC) ommittee(s) Committee(s) position AC (including ACC) Member Chairman Mr.04.12.2004 06. S.

2010 2010 (As NonExecutive Director) (As NonExecutive Director) (As Executive Director) (As Executive Director) (As Executive Director) (As NonExecutive Director) Mr S M Palia Mr Naresh Chandra Mr Markus Akermann Mr M L Narula Mr D K Mehrotra Mr R A Shah Mr Shailesh Haribhakti Mr Aidan Lynam Mr. of Directors esent Presen Present 10 12 10 08 11 07 ector Direc Name of the Director Board at Attendance at the Board Meetings held on ebruary February 4.Corporate Governance Details of Board Meetings held during the Financial Year and the number of Directors present is as under: Serial No.2011) Leave of Absence Leave of Absence Leave of Absence Leave of Absence Leave of Absence Leave of Absence Leave of Absence Leave of Absence Leave of Absence No No No Not Applicable Not Applicable Leave of Absence Not Not Not Applicable Applicable Applicable Not Applicable Not Applicable Not Applicable Not Applicable 56 ACC Limited . 5. No. 2010 Mr N S Sekhsaria Mr Paul Hugentobler Mr Kuldip Kaura (As NonExecutive Director) April 22. 2010 December 8. Sushil Kumar Roongta (appointed on 03. O ctober 21. 3. 2010 Strength Total Strength Board of the Board 11 12 12 12 11 11 ectors Direc No. 2010 2010 Leave of Absence Attendance AGM at the AGM held on December 8. 2010 August 5. 2010 July 22. 4. 1. Dates Dates on which the Board wer ere Board Meetings were held February 4. April 8. 2010 October 21. No. 2010 April 22. 2010 ctober A ugust 5. 6. 2010 July 22. 2.02.

Management Discussion & Analysis of the Company’s operations. Sumit Banerjee holds a B. 75th Annual Report 2010 57 .I. MMITTEES BOARD COMMITTEES OF TH E BOARD Committee (C Audit Committee – (Constituted in 1986) The Audit Committee acts as the link between the Statutory and the Internal Auditors and the Board of Directors. 1956. 2010 April 22. (Hons) degree in Mechanical Engineering from IIT Kharagpur and is Fellow of the Institute of Engineers (F. Mr. recommendation for appointment of Statutory and Cost Auditors and their remuneration.Tech. The details in regard to the attendance of Mr Banerjee at the Board Meetings / AGM. half yearly and annual financial results. Internal & Cost Auditors. 2010 Not Applicable Not Applicable Directorship(s) ectorship(s AC Number of Directorship(s) held in Indian Public Limited Companies (including ACC) Member ommittee(s) AC Committee(s) position (including ACC) 2 5 Chairman - The Company has complied in full with Clause 49 of the Listing Agreement with regard to information being placed before the Board of Directors.e. interaction with Statutory. The terms of reference of the Audit Committee are as per the guidelines set out in the Listing Agreement with the Stock Exchanges read with Section 292(A) of the Companies Act. Indal / Hindalco and was also the Managing Director of Tube Investments of India Limited. 2010 July 22. August 13. significant related party transactions.ear: year resigned ectors Direc Details of Directors who resigned during the year: Mr.E. Risk Management framework concerning the critical operation of the Company. the number of Directorship(s) held in Indian public limited companies and the position of Membership / Chairmanship of Audit Committee / Shareholders’ / Investors’ Grievance Committee in such Indian public limited companies are given below: at Board Attendance at the Board Meetings held on Attendance AGM at the AGM held on ebruary February 4. Banerjee had a rich and varied experience and has served in senior positions with L&T.). Sumit Banerjee who was appointed as the Managing Director of the Company with effect from April 1. Removal and terms of remuneration of Chief Internal Auditor.f. internal control systems. discussions on quarterly. 2010 December 8. These broadly include approval of the Annual Internal Audit Plan. 2010 August 5. 2010 October October 21. Mr. review of the financial reporting system. 2010 April 8. Appointment. Internal Audit Report. 2007 resigned w. 2010.

Naresh Chandra Mr.f 22.f. 2010 Mr. The Committee also invites the representatives of Holcim group’s Internal Audit team for obtaining valuable guidance from their expertise in international best practices in Internal Audit. 2010 Mr.04. He ceased to be on the Committee w. Palia Non-Executive/ Independent Mr. the Chief Financial Officer. 2010 April 21. 2010 July 21.08. The Audit Committee is composed of the following Members. The Company Secretary is the Secretary to the Committee. Their attendance at the Meeting is as under: Name of the Member tegory C a tegory ebruary February 3. 2010 ctober O ctober 20. Paul Hugentobler *Mr. Shailesh Haribhakti (Chairman) Non-Executive/ Independent Audit Committee at A ttendance at the Audit Committee Meetings held on March March 10.e. M. 2010 July 12.e. 2010 December 6. S. The Cost Auditor / his representative attends such of those meetings of the Audit Committee where matters relating to the Cost Audit Report are discussed.2010. Kuldip Kaura was appointed on the Audit Committee w. All the Members have the requisite qualifications prescribed under Clause 49 of the Listing Agreement. The Company has implemented well structured Internal Audit Control Systems to ensure reliability of financial and operational information and statutory / regulatory compliances.2010 consequent to his appointment as CEO & MD of the Company. Kuldip Kaura Non-Executive/ Independent Non-Executive Non-Executive Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable Leave of Absence Leave of Absence Leave of Absence *Mr.Corporate Governance The Company has framed the Audit Committee Charter and an Internal Audit Charter for the purpose of effective compliance of Clause 49 of the Listing Agreement. The Internal Audit Department is headed by the Chief Internal Auditor who functions independently and reports to the Chairman of the Audit Committee. Chief Executives at the Regions and the representatives of the Statutory Auditors are permanent invitees to the Audit Committee Meetings. 04. The Chief Executive Officer and Managing Director. the Chief Internal Auditor. 58 ACC Limited .

issue of duplicate share certificates. The dates on which the Committee Meetings were held and the attendance of the Members at the said Meetings are as under: Name of the Member Shareholders’ Inv at Griev Attendance at the Shareholders’ / Investors’ Grievance Committee Meetings held on ebruary February 4. review of shares dematerialized and all other related matters.(Constituted in 1993) The terms of reference of the Compensation Committee. 2010 @Ceased to be a Member consequent upon his resignation from the Company w. all of which have been attended / resolved as on date.Shareholders’ / Investors’ Grievance Committee . 2010 October October 21. monitoring expeditious redressal of investors’ grievances. service agreement and other employment conditions of the Managing Director / Chief Executive Officer and Managing Director as the case may be. These were transfers lodged after December 16. ompensation Committee (C Compensation Committee . Sumit Banerjee Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable *Appointed with effect from October 21. the remuneration structure. 2010 April 22. with a view to retaining and motivating the best managerial talents.(Constituted in 1962) Committee (C Griev Shareholders’ Inv The Shareholders’ / Investors’ Grievance Committee deals with various matters relating to:transfer / transmission of shares / debentures. 2010. The Company had 16 share transfers pending as on December 31. all other matters related to shares / debentures. 2010 July 22. During the year.f August 13. inter alia consists of reviewing the overall compensation policy. 2010. non receipt of Annual Report and declared dividend.e. The Shareholders’ / Investors’ Grievance Committee is composed of the following Members. 2010. In determining the remuneration. 51 complaints were received from shareholders. 2010 The Company Secretary is the Compliance Officer as per the Listing Agreement. December 8. issue and allotment of rights / bonus shares / shares against Employee Stock Options. Kuldip Kaura @ Mr. the Committee takes into 75th Annual Report 2010 59 . 2010 2010 Mr Paul Hugentobler (Chairman) Mr M L Narula * Mr. No investor grievances remained unattended / pending for more than thirty days as on December 31.

Sumit Banerjee * Appointed with effect from October 21. Paul Hugentobler *Mr. As of December 31. The Committee specifically reviews whether the requirements of the Competition Law are met and provides guidance in regard to the latest developments on competition laws in India and abroad. 2010. 2010 Mr. 2008 The Compliance Committee was constituted to regularly review the status of Company’s Compliance with various laws and regulations as well as to understand the implications of major legislative and regulatory developments that may significantly affect the Company. 2010 Mr. N. Kuldip Kaura @ Mr. A. 2010 April 21. remuneration paid by comparable concerns. The dates on which the Compliance Committee Meetings were held and the attendance of the Members at the said Meetings are as under: Name of the Member Compliance Committee at Attendance at the Compliance Committee Meetings held on ebruary February 3. the Compliance Committee of the Board is composed of the following Members. R. 2010 Mr. The Committee also gives guidance to the Management and monitors the developments in important legal cases filed by and against the Company. 2010 July 21. S. and report the same to the Board. Shailesh Haribhakti January tory Mandator Committee) Constituted Committee Compliance Committee (Non Mandatory Committee) – Constituted on January 31. Paul Hugentobler Participated through teleconference April 22. Shailesh Haribhakti Mr. The Compensation Committee also monitors the implementation of existing Employees’ Stock Option Scheme. Shah (Chairman) Mr. 2010 August 5. responsibilities to be shouldered by the Managing Director and the Company’s and individual performance. The Compensation Committee is composed of the following Members. Naresh Chandra Mr. 2010 @ Ceased to be a Member consequent upon his resignation from the Company with effect from August 13. 2010 Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable 60 ACC Limited . 2010 July 22.Corporate Governance consideration the industry trend. Sekhsaria (Chairman) Mr. The dates on which the Meetings were held and the attendance of the Members at the said Meetings are as under: Name of the Member at Compensa ompensation Committee Attendance at the Compensation Committee Meetings held on ebruary February 3. 2010 Leave of Absence October October 21.

iv. LTA: An amount not exceeding 12. Tax.EMU ERA POLIC OLICY R EMU N ERATION POLICY ector/ emunera Policy for Executive Director/s Remuneration Policy for Executive Director/s The remuneration structure of Mr Kuldip Kaura.2010 to 31.5% as Holcim’s Global Performance Incentive). Sumit Banerjee. Medical reimbursement: Such amount as may be decided by the Board on the recommendation of the Compensation Committee including Group Mediclaim Policy as per the rules of the Company. The entitlement for any one year to the extent not availed of shall be allowed to be accumulated upto the next two Corporate financial years. Chief Executive Officer and Managing Director and that of Mr. if any.2013 as Chief Executive Officer & Managing Director.5% of the basic salary. ii.00. Housing : Free furnished residential accommodation or HRA at the rate of 40% of the basic salary.12. former Managing Director is stated below.` 25. The terms of appointment and remuneration have been approved by the Members of the Company. From 13. ii. Other Perquisites: As may be decided by the Board on the recommendation of the Compensation Committee subject to the overall ceiling on managerial remuneration as prescribed under the Companies Act. Kuldip Kaur Terms of appointment and remuneration of Mr. An amount equivalent to a maximum of 37. Salary Grade: Salary Grade: Allowances: Allowances: ` 11.00. Club Memberships.08.5% of the basic salary and allowances (which includes 7. Contribution to Provident Fund and Superannuation Fund as per the rules of the Company.2010 as Chief Executive Officer & Managing Director Designate.000 . iii. ector Direc Executive Officer aura. 75th Annual Report 2010 61 erquisites: Perquisites: etiral Retiral Benefits: tive: Incentiv erf Performance Incentive: .000 i. appointmen tment remuner emunera Mr. 1956. Group Personal Accident Insurance Policy as per the rules of the Company. Kuldip Kaura. Special Allowance: As may be decided by the Board on the recommendation of the Compensation Committee.08. iii. payable on Holcim’s Global Performance Incentive would be borne by the Company.08.2010 to 12. i. Chief Executive Officer & Managing Director tment: Appointmen Period of Appointment: From 05.

former Direc ector Terms of appointment and remuneration of Mr. In recognition of their contribution and the time spent on the Company’s business and taking into consideration the size and complexity of the Company’s operations and stringent accounting standards and governance 62 ACC Limited . The component of tax.00.2010). The total amount of sitting fees paid during the financial year ended December 31.f.40 lakhs.000 . Shares of Holcim Limited granted as part of Holcim’s global performance incentive policy for senior management personnel of Holcim’s Group companies. Superannuation Fund and Gratuity Fund.000 . Where in the financial years during the currency of the tenure of the Managing Director.Corporate Governance Remuner emunera Minimum Remuneration: Where in the financial years during the currency of the tenure of the Managing Director. 2010 was ` 24. the Company will pay remuneration by way of salary and perquisites as specified.` 9. subject to requisite approvals being obtained. Six months notice or six months salary in lieu of notice. Contribution to Provident Fund.e. the Company will pay remuneration by way of salary and perquisites as specified. Remuner emunera Minimum Remuneration: Period Severance Fees: Notice Period & Severance Fees: Remuneration Policy for Non Executive Directors ectors emunera Policy for Executive Direc The Non Executive Directors are paid Sitting Fees of ` 20. Three months notice or three months salary in lieu of notice. if any. the Company has no profits or its profits are inadequate. Upto an amount equivalent to a maximum of 30% of his gross annual salary. the Company has no profits or its profits are inadequate. Period Severance Fees: Notice Period & Severance Fees: appointmen tment remuner emunera Mr.000 for each meeting of the Board / Committee of the Board attended by them. ` 6.08. former Managing Director Appointmen tment: Period of Appointment: Salary Grade: Salary Grade: Allowances: erquisites Perquisites & Allowances: Other Benefits: erf Incentiv tive: Performance Incentive: Five years from the date of appointment viz. applicable on the share so granted by Holcim shall be borne by the Company. 13.000 Upto 125% of the annual salary. 2007 (Resigned w.` 40. April 1. Sumit Banerjee. subject to requisite approvals being obtained.00.

00 16.32 - 38. D. 1956. Narula Mr.00 20.02 - 73.60 0. Aidan Lynam Non-Executive Director has been paid commission on prorata basis.A.L.54 56.60 18. which is payable pro rata to those Directors who were in office for part of the year.10.20 8. Pursuant thereto.00 16.08.2009 to 04. Remuner emunera pay Direc ectors for year Details of Remuneration paid / payable to Directors for the financial year ended December 31.norms.00 9.00 7. The remuneration paid to Mr. *Mr. Aidan Lynam (from 22. The Commission is being paid on a uniform basis to reinforce the principle of collective responsibility.00 5.77 - 15. 75th Annual Report 2010 63 . the Members of the Company have at the 74th Annual General Meeting held on April 8.00 1.04.00 9.12 - 16. S.20 9.00 lakhs for each of the Non-Executive Member Directors of the Audit Committee and Compliance Committee payable pro rata to those who occupied the office for part of the year.00 9. the Company has provided for the payment of commission of ` 9. Chief Executive Officer & Managing Director excludes provision for leave encashment on retirement and other defined benefits payable to him since the same is provided on actuarial basis for the Company as a whole. Palia Mr. S.M.08.20 1. Paul Hugentobler *Mr. Naresh Chandra Mr. R.00 21. Kuldip Kaura has been paid Commission on a pro rata basis and Sitting Fees for the period he was a NonExecutive Director on the Board. The maximum commission payable to each Non-Executive Director has been fixed at ` 16.23 19.20 Total 11.00 183.20 0.60 9.00 lakhs to each of the Non-Executive Directors for the financial year 2010.2010 as NonExecutive Director) (from 05.60 11.S. The amounts indicated against the name of Mr D K Mehrotra have been paid to Life Insurance Corporation of India.26 3. Shah Mr. M. Mehrotra Mr.00 2. Mr.60 2.00 7.34 Sitting F ees 2.00 Lakhs by the Board of Directors.26 Notes: i.00 16.K. Haribhakti Mr. Sekhsaria Mr.00 16.60 2. The Company has also provided for payment of additional commission of ` 7.2010 as Executive Director) Mr.00 6. 2010 ` Lacs Name Mr. 2010 sanctioned the payment of commission to the Non-Executive Directors not exceeding one percent of the net profits of the Company as computed in the manner provided by Section 198(1) of the Companies Act. iii.2010) Salary P erquisites P er f ormance C o ntribution C ommission ntribution Salary erquisites erf PF/ tive Incentiv to PF/OSF Incentive 9. Markus Akermann Mr. ii. Kuldip Kaura (from 28.00 4. Kuldip Kaura. N.00 18.

DISCLOSUR DISCLOSUR ES There are no materially significant transactions with related parties viz.33 Sitting F ees Total Mr. SUBSIDIARY COMPAN BSIDIAR ANI SUBSI DIARY COMPANI ES The Company does not have any material non-listed Indian subsidiary whose turnover or net worth (i. The Management Audit Report of the Subsidiary Companies are placed before and reviewed by the Audit Committee. Directors.92 39. former Managing Director for the financial year ended December 31. 2006 (as amended).01. Sumit Banerjee has been paid Performance Incentive on pro-rata basis upto the date of his resignation.93 Note: Mr. the Company has followed the Accounting Standards notified pursuant to Companies (Accounting Standards). 64 ACC Limited .Corporate Governance Details of Remuneration paid to Mr. Rules.08. Suitable disclosure as required by the Accounting Standard (AS 18) has been made in the Annual Report. Promoters. 2010 is as under:` Lacs Name Salary erquisites erf ntribution Salary P erquisites P er f ormance C o ntribution Incentiv tive PF/ Incentive to PF/OSF 51. No strictures or penalties have been imposed on the Company by the Stock Exchanges or by the Securities and Exchange Board of India (SEBI) or by any statutory authority on any matters related to capital markets during the last three years. of the listed holding company and its subsidiaries in the immediately preceding accounting year.71 66.96 yment P a yment for Notice P eriod 14.2010 to 12. Sumit Banerjee (from 01. The significant accounting policies which are consistently applied have been set out in the Notes to the Accounts. In the preparation of the financial statements.00 13. paid up capital and free reserves) exceeds 20% of the consolidated turnover or net worth respectively.2010) 185.e. Sumit Banerjee. Copies of the Minutes of the Audit Committee / Board Meetings of Subsidiary Companies are individually given to all the Directors and are tabled at the subsequent Board Meetings. Management or their subsidiaries or relatives conflicting with the Company’s interest. The Company is gearing up to become compliant with International Financial Reporting Standards (IFRS) and will be ready to implement IFRS when it becomes applicable.

The aforesaid financial results are sent to the Stock Exchanges where the Company’s securities are listed. The Board of Directors has reviewed and revised the Code of Business Conduct and Ethics on October 28. pre-clearance of trade. The Company has a formal system of internal control testing which examines both the design effectiveness and operational effectiveness to ensure reliability of financial and operational information and all statutory / regulatory compliances. ONDUCT CON CODE OF CONDUCT The Board of Directors had at its Meeting held on December 5. are the setting up of the Compensation Committee and the introduction of the Fraud Risk Management Policy which contains features of the Whistle Blower Policy. monitoring adherence to the rules for the preservation of price sensitive information. The Company’s business processes are on SAP-ERP and SAP-HR platforms and has a strong monitoring and reporting process resulting in financial discipline and accountability. monitoring of trades and implementation of the Code of Conduct for trading in Company’s securities under the overall supervision of the Board. immediately after these are approved by the Board and thereafter given by way of a Press Release to various news agencies / analysts and published within forty-eight hours in leading English and Marathi daily newspapers. Among the non mandatory requirements adopted by the Company.com.Business risk evaluation and management is an ongoing process within the Organization. the Company Secretary is the Compliance Officer and is responsible for setting forth policies. 2009. Adoption of non mandatory requirements under Clause 49 of the Listing Agreement are being reviewed from time to time. 2005 approved the Code of Business Conduct and Ethics which was made applicable to the Board of Directors and all employees in the management grades. The Code has been posted on the Company’s website www. MEANS COMM ICA MMU MEANS OF COMMU N ICATION • The unaudited quarterly / half yearly and audited yearly results are announced within the time stipulated in the Listing Agreement with the Stock Exchanges. PREVENTION INSI NSIDER ADING PREVENTION OF INSIDER TRADING As per the SEBI (Prohibition of Insider Trading) Regulations 1992. procedures. 75th Annual Report 2010 65 .acclimited. All the Directors on the Board. The revised Code of Conduct is applicable to the Directors and all employees in management grades and the employees in senior management cadre are required to give an annual declaration that they have complied with the Code. The Company has adopted a Code of Conduct for Prevention of Insider Trading as well as a Code of Corporate Disclosure Practices. employees at senior management level at all locations and other employees who could be privy to unpublished price sensitive information of the Company are governed by this Code.

in.corpfiling.com jer. Maharshi Karve Road. • • • General Informa ormation for Shareholders General Information for Shareholders Services Inv Investor Services The Company has an in-house Share Department located at its Registered Office which handles all matters relating to the shares of the Company including transfer / transmission of shares. Shareholders / Investors can view the information by visiting the website of www. sub-division / consolidation of share certificates and investor grievances. before transferring the monies to the Investors’ Education & Protection Fund (IEPF).chitre@acclimited. orrespondence Address for Corr Address for Correspondence ACC Limited Share Departmen tment Share Department ement “Cement House” Kar Road.Corporate Governance • • The audited financial statements form a part of the Annual Report which is sent to the shareholders prior to the Annual General Meeting.dhondy@acclimited. Shareholding Pattern.acclimited. The Company also informs by way of intimation to the Stock Exchanges all price sensitive matters or such other matters which in its opinion are material and of relevance to the shareholders and subsequently issues a Press Release on the said matters.co.com krishnan.chidambaram@acclimited. dematerialisation of shares. payment of dividends. arv 121. 33024469 (022) 66317458 sujata. The quarterly / half yearly and the annual results as well as the press releases of the Company are placed on the Company’s website: www. Mumbai 400020 Telephone Nos: Fax No: ommunication Communication by e-mail: For transfer / transmission / subdivision / demat: For loss of shares / dividend / general inquiries: For investor grievance remaining unattended: (022) 33024473. Individual reminders are sent each year to those members whose dividends have remained unclaimed. Quarterly Report on Corporate Governance are being regularly filed on “Corp Filing”. All data required to be filed electronically pursuant to Clause 52 of the Listing Agreement with the Stock Exchanges.com 66 ACC Limited .com. such as Annual Report.

Bandra (East). However for enquiries relating to non receipt of shares / dividend. notices. ISIN Numbers for Privately Placed Debentures on NSDL & CDSL are INE012A07188 & INE012A07196 respectively. The e-mail ID is ACC-InvestorSupport@acclimited.c t@acclimited. ECS facility for dividend.com. etc. change of address. Mumbai 400051 The Privately placed Non-Convertible Debentures are listed on the Wholesale Debt Market Segment of the National Stock Exchange of India Limited. Dalal Street Mumbai 400001 The National Stock Exchange of India Limited Exchange Plaza.Members who hold shares in dematerialised form should correspond with the Depository Participant with whom they maintain Demat Account/s. grievances to the above e-mail ID and the same will be attended to by our in-house Share Department. change of address. Members are requested to indicate their Folio / Demat Account number in their correspondence with the Company. ACC INE012A01025 Code Stock Code / Code Scrip Code 500410 for NSDL/ ISIN ISIN Number for NSDL/CDSL (Dematerialised shares es) (Dematerialised shares) 75th Annual Report 2010 67 . Market Information Market Informa ormation Ex Listing on Stock Exchanges The Company’s shares are listed on the following Stock Exchanges and the Listing Fees have been paid to the Exchanges: Address Ex Name & Address of the Stock Exchanges The Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers. subdivision of shares. issue of duplicate shares. annual reports. the Members should communicate directly with the Company. Shareholders / Investors can send their complaints / C-InvestorSupport@acclimited. ECS facility. for their queries relating to shareholding.com. Bandra-Kurla Complex. ocation Plant Loca Plant Location The location of the Company’s Plants are given on the inside cover page of the Annual Report. Exclusive E-Mail ID for Redressal of Investor Complaints omplaints Complain Inv clusive ID for Redr edressal The Company has designated an e-mail ID exclusively for the purpose of registering complaints by investors.

34 19521.99.38.707 15.09 989.810 15.170 17.00 888.75 984.00 1.45 1.099.50 831.77 ACC Share Price on BSE & BSE Sensex 21000 1100 20000 BSE Sensex 1000 19000 18000 900 17000 16000 Jan-10 Feb -10 Mar-10 Apr-10 May-10 Jun-10 Date BSE Sensex ACC Share Price (on BSE) Close Jul-10 Aug-10 Sep-10 Oct -10 Nov-10 Dec -10 800 68 ACC Limited ACC Share Price on BSE (Closing) .00 Low ` 860.14 138.00 986.80 990.11 389.25 20509.53 139.00 968.637 36.36.96 16429.12 20069.74 143.31 97.Corporate Governance Share Sensex January ACC Share Price vis a vis BSE Sensex January – December 2010 Month Month Sensex BSE Sensex Close Share ACC Share Price High ` Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 16357.71 16944.45 1.47 131.076 30.94 196.133.63 17700.075.60 shares No of shares traded traded during month the month 22.31.90 Close ` 870.90 17868.44.00 801.017.77 17558.221 11.47.91 113.049.29 17971.59.00 700.308 18.12 20032.41 183.05 883.76.90 914.30 871.74 303.09.95 1.123 urnov Turnover Crores) ores ( ` Crores) 204.95 889.55 972.15 817.75 922.00 1.948 13.00 1.00 823.45 906.036.52 143.12.95 950.55 17527.00 874.92.15.398 20.60 814.066 13.45 871.70 940.00 910.084 14.00 801.20 987.90 929.00 826.

70 6134.291 75.60 5402.20.10.10 831.80 688.70 5862.18 902.23.037.92 1.00 812.050.30 5249.10 951.007 75.85 Low ` 859.05 905.03.255.90 882.00 5086.35 Close ` 871.40 1.566 1.60 shares No of shares traded traded during month the month 1.00 870.10 5278.075.95 913.35 989.95.30 5312.43.800 87.25.05 970.85 985.70 923.00 940.40 6029.28.50.10 823.164 69.957 83.50 989.172 86.313 1.95 6017.87.020.05 818.518 urnov Turnover Crores) ores ( ` Crores) 927.52.35 983.55 878.Share CNX Nifty January ACC Share Price on NSE vis a vis S&P CNX Nifty January – December 2010 Month Month CNX S&P CNX Nifty Nifty Close Share ACC Share Price (on NSE) High ` Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 4882.007.986 78.25 809.098.134.70 872.79 655.83.80 1.05 4922.57 543.75 666.49 860.70 913.40 1.40 824.36 596.00 986.002 96.00 800.90 946.15 968.00.00 810.00 1.14 ACC Share Price on NSE & S&P CNX NIFTY 6500 1100 ACC Share Price on NSE (Closing) S&P CNX Nifty 6000 1025 5500 950 5000 875 4500 Jan-10 Feb-10 Mar-10 Apr-10 May -10 Jun-10 Date Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 800 S & P CNX Nifty Close ACC Share Price (on NSE) Close 75th Annual Report 2010 69 .05.85 898.79 1.336 63.50 888.26.95 1.00 1.50 5367.00 870.76 915.

the dividends for the year ended March 31. Unclaimed Dividends The Company is required to transfer dividends which have remained unpaid / unclaimed for a period of seven years to the Investor Education & Protection Fund established by the Government. Pending Investors’ Grievances Any Member / investor whose grievance has not been resolved satisfactorily.Corporate Governance SHARE SY DIVIDEN AND OT DEND RELA ELAT MATTER ERS SHARE TRANSFER SYSTEM / DIVI DEND AND OTH ER RELAT ED MATTERS i. To facilitate dividend payment through NECS. Shareholders holding share certificates of the face value of ` 100 each are requested to send the certificates to the Share Department of the Company for exchange. Nomination facility for shareholding ii. Members are requested to ensure that any correspondence for change of address. In cases where the core banking account number is not intimated to the Company/ Depository Participant. iv. in September 2011 transfer. The old shares having face value of ` 100 are no longer tradable on the Stock Exchanges. iv. The Company will.. v. Those Members who hold shares in physical form may obtain nomination forms from the Share Department of the Company. Implementation of NECS by Reserve Bank of India (RBI) RBI had vide its circular dated July 29. Correspondence regarding change of address etc . The Company also requests for supporting documents such as proof of residence and identity whenever a letter requesting for change of address is received. may kindly write to the Company Secretary and Head Compliance at the Registered Office with a copy of the earlier correspondence. NECS Reser eserv (RB Implementa tation iii. shares vi. Members who hold shares in demat mode should inform their depository participant and such of the members holding shares in physical form should inform the Company of the new account number allotted to them by their bankers consequent upon the banks migration to the core banking system. change in Bank Mandates etc. should be signed by the first named shareholder as per his specimen signature recorded with the Company. 1956. 2004 which have remained unclaimed / unpaid. facility for making nomination is available for Members in respect of shares held by them. Members holding shares in dematerialised form should correspond with the Depository Participant with whom they maintain a Demat Account(s). Nomination facility for shareholding As per the provisions of the Companies Act. the Company will issue dividend warrants to the Members. This is being done to safeguard the interest of both the shareholders and the Company. Griev Inv vii. ansfers Share transf Share transfers Share transfers in physical form are presently processed and the share certificates are generally returned within a period of 15 days from the date of receipt provided all details are complete and there are no discrepancies. Subdivision of shares The Company had subdivided the face value of its Equity shares from ` 100 each to ` 10 each in 1999. 2009. 70 ACC Limited . orrespondence regar egarding address etc. 2009 directed banks to move to the NECS platform for centralized processing of inward instructions and handling of bulk transactions with effect from October 1.

08 0.57 1. No.059 24.40 0.111 16.661 2.254 % of hare S hare C apital 0.29% Physical 1.27.126 2.606 1.58 0.39 2.48.893 24.563 37.623 shares 1.62.04.13 0.781 5.02 4.263 57.86.36. of Share Share s 12.34.77.55% 2010 CDSL 21.30 3. Shares No.11 0.72.20 85. No.64.81.33 0.11 10.337 92.88.27.925 10.12.51.53 3. 75th Annual Report 2010 71 . of shares shares slab No.67 0.13 Total No.519 5.97.703 10.41.shareholding Distribution of shareholding as on December 31.15 0.45.87.50.209 12. 2010 No.57.80.35 9.60.65.241 7.67.29 0.36 100.805 93.12.95.150 22.97 13.56 1. No.90 1.29 21.95 1.43.81.95.928 shares 5.27.58.917 1.15.41 0.356 1.356 100.55 17.15 0.92 0.09 0.66 0.455 38.817 15.523 472 414 1.41 0.305 5. of Shares hysical P hysical % of hare S hare C apital 0.114 11.31 0.35.343 35.04.688 2.05.444 7.19 1-50 51-100 101-200 201-500 501-1000 1001-5000 5001-10000 >10000 Total 66.381 2.545 10.159 3.71 87.805 shares 93.16 0.81.60.36.925 61.00 C DSL % of hare S hare C apital 0.514 21.89.623 1.149 2.928 7.35 4.15 1.91.00 2.237 5.17 0.53.07 NSDL % of hare S hare C apital 0.90 2.51.16% The Company has entered into agreements with both National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) whereby shareholders have an option to dematerialize their shares with either of the depositories.95.00 Distribution of Shareholding NSDL 17.816 10.507 15. of shareshareholders % No.767 17.36.772 32.25.16 18.35.27 1.217 4.

937 Equity Shares constituting 48. Financial Institutions.45.45.29 0. Mutual Funds Central & State Governments Foreign Institutional Investors NRIs / Foreign Nationals Public and Others TOTAL No.678 3.46 100.07 0. Holderind Investments Limited Banks. Insurance Companies & Mutual Funds 3.514 2.11 0. Insurance Companies iv.07% The promoters have subsequently acquired 2.78.05.99.538 18. 2010 tegory Category Promoters i.857 shares 15. 72 ACC Limited .15 15.62% Foreign Institutional Investors 2.815 shares 0.678 shares 48.01.45.064 shares 16.356 47.78.21% 0.21 16.65.87.54. of Shares held 8.07. Shares No.75 % 48.46% NRIs / Foreign Nationals 11. 2010.000 3.19.533 shares on or before December 31. Financial Institutions iii.75.77.00 Shareholding Pattern Public and Others 3.857 11. 2011 is 9.404 shares 19.62 19.49% 2010 Central & State Governments 2.54.70.89. The same has been credited to their Demat Account. Their holding in the Company as on February 3.08.11.21 15.67.87.41. Insurance Companies & Mutual Funds i.404 5.83. Financial Institutions.669 14. Ambuja Cement India Private Limited ii.Corporate Governance Shareholding Pa Shareholding Pattern as on December 31.32% of the Equity Share Capital.90.15% Banks.49 0.65.04.881 2. Banks ii.815 2.90.92 0.538 shares Promoters 9.

Holcim Participations and Holcim Mauritius are companies belonging to the same group (hereinafter referred as “Holcim Group”) as defined under the Monopolies and Restrictive Trade Practices Act.95 1. Limited.62.04. 2010 Sr.01.495 13.08.000 2.2010 08.04.67. Ambuja Cements India Private Limited.2009 01. Time 3.12.V.m.99.00 p.12.441 36. No.03 1.05.2008 Venue Date Date 08. 1 shareholders Names of the shareholders Ambuja Cement India Private Limited (Promoter) Holderind Investments Limited (Promoter) 2 3 4 5 Life Insurance Corporation of India ICICI Prudential Life Insurance Company Limited JP Morgan Funds – Emerging Markets Equity Fund The Growth Fund of America. Sr.79.01. 75th Annual Report 2010 73 .41.12. Mauritius and indirectly through its Indian subsidiary Ambuja Cements India Pvt.192 56. Inc TOTAL 8.458 26.39 68. Holcim (India) Private Limited. Holcim Limited.55.04.m.62 3.2008 3. No.00 p.2007 to 31. 19.01. Holderfin B. conversion dates and likely impact on Equity NIL Particulars of past three Annual General Meetings: articulars three General AGM 74th 73rd Financial Year 01. Mumbai 400 020 24.404 5.21 Depository Receipts (GDR’ GDR’s any Con ertible nstrument. con onv onv dates likely impact Global Depository Receipts (GDR’s) or any Convertible Instrument.20 Number of shares shares 9..80.2009 to 31.34. Holderind Investments Limited (Holcim Mauritius) has informed the Company that.000 12.2007 No Extraordinary General Meeting was held during the period under reference.404 ercen centage Percentage of Capital Capital 48.2009 Birla Matushri Sabhagar.2008 to 31.00 p.05.79. 3.oreign Promoters Group Disclosure Foreign Promoters Group Disclosure Foreign Promoters shareholding in the Company is held by Holderind Investments Limited. Resolutions Special Resolutions passed Payment of commission to Non-Executive Directors Alteration of Article 157(ii) of the Articles of Association of the Company which deals with the manner in which the Seal of the Company is to be used No Special Resolution was passed 72nd 01.m. 1969. Sir Vithaldas Thakersey Marg. tement Shareholding more Capital Statemen Statement showing Shareholding of more than 1% of the Capital as on December 31.

48.m. 2011 (both days inclusive) April 11.87 99.Birla Matushri Sabhagar 19. 2011 On or before March 16. Chief Executive Officer and Managing Director. 2011 March 31.337 (239) 3.46. Sir Vithaldas Thackersey Marg. 2011 at 3. 309 of the Companies Act. Chief Executive Officer and Managing Director was accordingly passed with the requisite majority. Accordingly.00 p. For and on behalf of the Board of Directors N S Sekhsaria Chairman Mumbai: February 3. as the Scrutinizer for conducting the postal ballot process. Shirin K. The Company had appointed Ms. 2011 February 3.662 % of votes votes 100. 2011 to April 13.18 0. April 13.408 (1.Mumbai 400 020 April 19. Time & Venue of the 75th Annual General Meeting Dividend Payment date Probable date of despatch of warrants Board Meeting for consideration of unaudited quarterly results for the financial year ending December 31. 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules. Legal Advisor. 2011 April 16. ALEND NANCIAL CALEN FINANC FINANCIAL CALENDAR: Board Meeting for consideration of Accounts for the financial year ended December 31.37. 2010 and recommendation of dividend Posting of Annual Reports Book Closure Dates Last date for receipt of Proxy Forms Date.70.00 p. 2011 74 ACC Limited .34.69 The Ordinary Resolution as per Notice dated August 6.40. Within two months from the end of the last quarter as stipulated under the Listing Agreement with the Stock Exchanges. The results of the voting conducted through Postal Ballot are as under:Particulars articulars Total Postal Ballot Forms received Less: Invalid Forms received Net valid Postal Ballot Forms received Postal Ballot Forms with assent for the Resolution Postal Ballot Forms with dissent for the Resolution Number of Ballots 3.Corporate Governance Resolution through conduc onducted exercise Details of Resolution passed through postal ballot.098 2. 2011 before 3.m.238 9.928 170 Number of Votes 13. 2010 was sent to the shareholders seeking their approval through postal ballot on the Ordinary Resolution for the appointment and terms of remuneration of Mr. Kuldip Kaura. 2011 Audited results for the current financial year ending December 31.36. Bharucha. 2010 for the appointment and terms of remuneration of Mr. Kuldip Kaura. the Postal Ballot was conducted by the Scrutinizer and a Report submitted to the Chairman. the persons who conducted the postal ballot exercise voting pattern and details of the voting pattern Pursuant to Section 269(1).00 (0.13) 99.69.900 13. 2001 a Notice dated August 6.508) 13. 2011 Within forty-five days from the end of the quarter as stipulated under the Listing Agreement with the Stock Exchanges.

the Company has complied with the requirements of the said sub clause. 2011 Sunil Nayak Chief Financial Officer 75th Annual Report 2010 75 .DECLARATIONS Ethics onduct Conduc Code Compliance with Code of Business Conduct and Ethics As provided under Clause 49 of the Listing Agreement with the Stock Exchanges. the Board Members and the Senior Management Personnel have confirmed compliance with the Code of Conduct and Ethics for the year ended December 31. 2010. 2010. we have certified to the Board that for the financial year ended December 31. 2011 CEO / CFO Certification As required by sub clause V of Clause 49 of the Listing Agreement with the Stock Exchanges. For ACC Limited Kuldip Kaura Chief Executive Officer & Managing Director Mumbai February 3. For ACC Limited For ACC Limited Kuldip Kaura Chief Executive Officer & Managing Director Mumbai February 3.

we certify that the Company has complied with the conditions of Corporate Governance as stipulated in the above mentioned Listing Agreement. 2011. 2010. as stipulated in Clause 49 of the Listing Agreement of the said Company with Stock Exchange(s). Accordingly. at its first meeting after that date. Ganpatr Kadam Marg trao 95. for the year ended December 31. 2011. R. ower Par Lower Parel. The compliance of conditions of Corporate Governance is the responsibility of the Management. adopted by the Company for ensuring the compliance of the conditions of the Corporate Governance. We further state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency or effectiveness with which the Management has conducted the affairs of the Company.: 41870 Place: Mumbai Date: February 3. Batliboi & Associates Charter Accountants tered ountan Chartered Accountants state. Batliboi & Associates Firm Registration number: 101049W Chartered Accountants per Sudhir Soni Partner Membership No.R. Mumbai – 400 013. Jalan Mills Compound. Esta Floor.Corporate Governance Batliboi Associates S. arel. the Company has. 2011 76 ACC Limited . For S. AUDITORS’ CERTIFICATE ON CORPORATE GOVERNANCE MEMBER ERS AC LIMITED TO TH E MEMBERS OF ACC LIMITED We have examined the compliance of conditions of Corporate Governance by ACC Limited. Consequent to the resignation of an Independent Director. Urmi Estate. In our opinion and to the best of our information and according to the explanations given to us. 2nd Floor. Ganpatrao Kadam Marg . Our examination was limited to procedures and implementation thereof. It is neither an audit nor an expression of opinion on the financial statements of the Company. the Board of Directors was required to fill this vacancy by January 31. Compound. appointed an Independent Director on February 3.

848.123.53) 149.Financial Analysis of ACC Limited (Standalone) ART NET THE FOLLOWING ABLE FORT BR AKU COMPANY’S EXPENSES AS PAR MPAN THE FOLLOWING TABLE SET FORTH THE BREAKUP OF THE COMPANY’S EXPENSES AS PART OF THE NET SALES Figures in ` Crore 2010 Net Sales Other income Increase in stock in trade and work in progress Consumption of Raw materials Purchase of Traded Cement Personnel Expenses Power and Fuel Outward Freight charges on Cement etc.24 697.51 93.070.39 % of Net sales 100% 3% 0% 11% 1% 5% 19% 13% 4% 20% 1% 29% Components of Net Sales (%) omponents Raw Materials 15% 11% 19% Power & Fuel 21% 13% Outward Freight Personnel Expenses Depreciation Others 14% 6% 5% 20% 29% Profit before Tax 19% 2010 2009 5% 4% 19% 1.84% 21. The price per ton of cement has increased marginally by ` 26.58) 1.717. NET SALES: Figures in ` Crore 2010 Sale of Products and Services (Gross) Less .054.724.33 2009 8.16 367.13 84.34 (309.30 392.12% which can be seen from the below mentioned table.45 % of Net sales 100% 5% -1% 15% 1% 6% 21% 14% 5% 24% 1% 19% 2009 8.027.539.598.93 (56.78 1.42 (28.Excise Duty Sale of Products and Services (Net) 8.20 117.67 1.629.71 846.461.42% -3. Depreciation and Amortisation Other Expenditure Interest Expenses Profit befor ore Profit before Tax 7.20 240.68 1.86% during current year over previous year due to reduction in cement sales volumes by 1.89 1. 75th Annual Report 2010 77 .24 56.38 7.09 1.027.30 2.63 461.74) 891.86% Net sales decreased by 3.72 1.04 8.33 356.87) Change% -1.20 Change (160.294.51 per ton as compared to previous year.65 1.41 342.717.563.

30 million tons.47 Change% 26.99% over the previous year mainly due to following:O O Average cost of slag has increased by ` 375.27% Purchase of trading cement has increased by 26.75 21.70 76.63 2009 93.24) (0.20 2009 891.48 2009 163. OTH ER INCOME: Figures in ` Crore 2010 Other operating income Other income 258.16 Change 24. such provision is considered to be no longer required pursuant to a decision of the Supreme Court in the matter of Transport Subsidy delivered during the year.51 Change 231.36% as compared to previous year.Financial Analysis Figures in million tonnes 2010 Cement (Mt) Clinker 21.39 per ton.24 to 0.45 98.38 million tons.72 Change 94.69 Change% 25. RAW MATERIALS CONSUMED: Figures in ` Crore 2010 Raw Materials Consumed 1.123.45 Crore arising due to a write back of provisions made in earlier years in relation to claims of Gagal Sales Tax Subsidy.88% 28.27% due to increase in quantity by 25% from 0.12 2009 21.52 0.36% Other Operating income has increased by 57.20 Change (0. Purchased clinker has gone up by 0.08) Change% -1. Other income is increased by 28.12% -40.76 Change% 57.28 0. PUR HASE TRADI ADING CEMENT: 3. primarily on account of increase in dividend income from mutual funds. 78 ACC Limited .00% OTH INCO 2.88% as it includes ` 64. RAW MATERIAL CONSUMED: IALS 4. PURCHASE OF TRADING CEMENT: Figures in ` Crore 2010 Purchase of Trading Cement 117.99% Consumption of raw materials has increased by 25.

89 2009 367.71 Change 94.06 Change 102.18 Figures in ` Crore Change% 25. 2009.f. O Increase in maintenance costs in various units of the company.539.36 Crore pertaining to the period until December 31.59 2009 98. POWER AND FUEL: 6. REPAI AIR 7.20 Figures in ` Crore Change% 18.50% since the rate of royalty on limestone had been increased from ` 45 to ` 63 per ton in the previous year w.50 Royalty paid on limestone has increased by 18. PERSONN EL EXPENSES: 2010 Personnel Expenses 461.03 2009 371. By prudent sourcing we were able to bring the fuel costs under control both imported and coal.e.67 2009 1.16 Crore (including ` 47. REPAIRS: 2010 Repairs 474.75% due to following:O Provision of ` 71.598.50% Consumption of packing material has increased by 12. POWER AN D FUEL: 2010 Power and Fuel 1. consequent to change its basis of identifying obsolescence of spare parts based on the actual usage pattern. ROYALTY TY: 8. ROYALTY: 2010 Royalty 116.83 Change% 12.97 Figures in ` Crore Change% 27.61% 75th Annual Report 2010 79 .83% Power and fuel cost has marginally increased by 3.39 Change 18. PACKING MATERIALS CONSUMED: Figures in ` Crore 2010 Packing Materials Consumed 268.72 Change 29.02 Figures in ` Crore Change% 3.PACKING MATERIAL CONSUMED: IALS 5. 2009) is made during the year. The increase in purchased power tariff led to increase in costs.65 Change 59.75% Expenditure on account of repairs has increased by 27. PERSON SONN 9.83%.55 2009 238.50% mainly due to increase in the price of bags consumed for dispatch of cement. August 13.

89 Figures in ` Crore Change% 1.26) Figures in ` Crore Change% -5.41 Change 15. REBATES AND ALLOWANCES: 2010 Discount. REBA OUNT AND ALLO ANCES: 11.070.69 Figures in ` Crore Change% 29.51% Freight charge has marginally increased by 1.19% as compared to previous year. O The company has recognized a debit of ` 53. there is increase in average freight cost by 9. TRANSPORTATION AND OTH ER CHARGES: 2010 Loading.Financial Analysis Personnel expenses have increased by 25. HARGES: CHAR AND OT ANSPOR ADING. Rebates and Allowances 88.74% as compared to previous year due to increase in Clearing and forwarding charges.23 2009 93.30 2009 1. ADVER ISEMENT: VERT 13.51% as compared to previous year.63% The cost of Discount. the Company stepped up its advertising spending to improve its brand visibility. DISCOUNT. During the current year.85 2009 53.63% on account of decrease in sales volumes.49 Change (5.74% Cost of Loading. DISCOUNT. TRANSPORT LOADI 10. RATES AND TAXES 2010 Rates and taxes 97.20 2009 101. Rebates and allowances has been decreased by 5.16 Change 15. During the current year.00 Crore) due to change in discounting rate and salary escalation rate in valuation of present value of employee benefit liabilities.37% which is partially offset by decrease in sales volume. there is marginal decrease in rates and taxes by 4.51% Advertisement expenditure has increased by 29.52 Figures in ` Crore Change% 9. OUTWARD FREIGHT CHARGES TWAR ETC: 14. ADVERTISEMENT: 2010 Advertisement 68. LOADING.19% During the current year. RAT AND 12.50 Crore (Previous year credit of ` 22.25) Figures in ` Crore Change% -4.69 Change 16.21 2009 169.51%. Transportation and other charges has increased by 9.61% mainly on account of following:O Annual increase in salary and impact of revision in wage agreement with the trade unions.054. Transportation and other charges 186. 80 ACC Limited .45 Change (4. OUTWARD FREIGHT CHARGES ON CEMENT ETC: 2010 Outward Freight Charges on Cement etc 1.

48% 9.52 19.During the current year.23%. Wadi capacity expansion.69% -81. O Interest claim on delayed payment of royalty on limestone provided in the previous year of ` 22. installation of grinding units at Kudithini and Thondebhavi and other capitalization.14 19.13 crore as compared to previous year due to loss on sale / discarding of assets at various locations.09 Change 50.60 10.005. c) Provision for Bad and Doubtful debts: . OTH ER EXPENSES: 2010 Excise Duties (Net) Rent Insurance Stores and Spare parts Consumed Commission on Sales Miscellaneous Expenses Provision for Bad and Doubtful Debts TOTAL 115.65% due to following:O Repayment of Rupee Term loan of ` 50 crore (` 200 Crore was repaid in the month of Dec 2009).47 crore as in the previous year provision was made of ` 29 crore in respect of sales tax incentive available under a state government policy in respect of one of its cement plants. DEPRECIATION AND AMORTISATION: DEPRECIAT ECIA AND AMOR ISA ORT 2010 Depreciation and Amortisation 392.18 Change 30. 17.09% 12. INTEREST EXPENSES: INTEREST ERES 2010 Interest Expenses 56. 16.67 Crore as compared to ` 1.03 23.47) 45. 75th Annual Report 2010 81 .52) Figures in ` Crore Change% -32.79% There is increase in depreciation on account of asset capitalization of ` 1.02% a) Excise Duties (Net):. due to increase in excise duty rate on captive consumption of clinker at exempted units from ` 300 per ton to ` 375 per ton.78 2009 84.40 Figures in ` Crore Change% 36.26 503.32 11.333. b) Miscellaneous Expenses: .59 Figures in ` Crore Change% 14.64 354.58 2009 84.71 Crore in the previous year.68 2009 342. there is decrease in provision for bad and doubtful debts by ` 25.23% 3.There is increase in excise duty charges during the current year by 36.43 Crore.61 0.12 317.Miscellaneous expenses has gone up by ` 37.66% 2.62 0.52 37.64 5.79 548. there is commissioning of Bargarh capacity expansion.14 17.72 1.19% 4.13 (25. During the current year.OTH 15.75 18.65% Interest expenses has decreased by 32.30 23.51 31.27 0.25% 11.30 Change (27.

O Raw materials inventory was higher by 50.29 2. INVENTORI ES: 2010 Stock-in-trade and Stores & Spares 914.15 (593. The average collection period outstanding for cement customer third party sales as on December 31.45% due to increase in inventories of gypsum and slag.562.22% as compared to previous year mainly due to commissioning of Bargarh expansion / modernization project.28 2009 203. As on December 31. a Company engaged in cement grinding.57 Crore. During the current year.307.46% Inventories has increased by 17. grinding units at Kudithini and Thondebhavi and other capitalizations.156.39% There is increase in investments by 15. Capital work in progress decreased by 27. INVESTMENTS: 19. a Company engaged in manufacturing and supply of ground Slag.67 2009 1. 82 ACC Limited .42) Figures in ` Crore Change% -12.80 2009 4.44 1.64 Change 227. consequent to change its basis of identifying obsolescence of spare parts based on the actual usage pattern SUN DRY DEBTORS: 21. O Inventory of Coal increased by 44.16 Crore is made during the year.46% due to following:O Stock-in-trade as on December 31.56 Crore (Previous Year ` 1. SUN DRY DEBTORS: 2010 Sundry Debtors 178.70 Change (25. O 45% Investment in Asian Concretes and Cements Private Limited.41) Figures in ` Crore Change% 22.702.48% as compared to previous year.98 Change 136. 2010 was higher than the level of December 31.28% as compared to previous year. O 100% Investment in Encore Cement and Additives Private Limited.37 days as compared to 2.22% -27.95 days as on December 31.03 Figures in ` Crore Change% 15.00 Figures in ` Crore Change% 17.158.98 2009 778. captive power plants at Chanda and Bargarh. 2010 is 4. Wadi capacity expansion. 2009.47 Crore) in mutual funds of its surplus cash. 2009 by ` 56.475.21 Change 924.38% due to following:O Increase in the investment of mutual funds as compared to previous year.52% Net Fixed assets increased by 22. INVESTMENTS: 2010 Investments 1.48% Sundry Debtor has decreased by 12.129.082. O Provision of ` 71. the Company has received ` 45.52% as compared to previous year mainly due to capitalization of projects. FIXED ASSETS: 2010 Net Fixed Assets Capital Work in progress 5.Financial Analysis ASSETS: 18.19 from state government on account of Transport subsidy claim from director of Industries Simla. INVENTOR ORI 20. 2010 the company invested ` 1.

652.99 Change 45.10 crore on account of utilization of cenvat credit on capital items of capex projects.62 % as compared to previous year. 2009.46 2009 1.e. O Higher Provision for income tax. Further there is increase in asset held for disposal at various locations.94 2009 516. customs ports & other authorities by ` 77. OTH ER CU R R ENT ASSETS: 2010 Other Current assets 56. PRO 25. Figures in ` Crore 2010 2009 1. Decrease in balance with excise. LOANS AND ADVANCES: 23. as the company has registered itself under the Large Tax Payer Unit (LTU) w.91 Change 130. LOANS AND ADVANCES: 2010 Loans and Advances 523.83 Figures in ` Crore Change% 1.13 Figures in ` Crore Change% 410.45 Crore pertaining to sales tax incentive scheme at one of the location.00 Change 502. the other current assets have gone up as compared to previous year due to increase in accrued interest on investment.99 crore on account of change in discount rate as well as change in assumption for salary escalation rate. PROVISIONS: 2010 Provisions 1.46 Figures in ` Crore Change% 43.69% Provisions has increased by 43.62% O CUR LIABI LITI 24.12 2009 10. CUR R ENT LIABI LITI ES: Current Liabilities 2.69% due to following:O Employee benefits provision has increased by ` 22.150.96 Current liabilities have increased marginally by 6.52 % as compared to previous year due to following:O Increase in advances and deposits on account of ` 57.05 Change% 6.11 Change 7. 75th Annual Report 2010 83 .f October 1.963.50 per share.52% Loans and advances increased by 1.OTH CUR ASSETS: 22. O Proposed a one-time special Platinum Jubilee final dividend of ` 7.65% During the current year.093.

51 Crore.20 Crore.62% The net cash from operating activities is decreased by ` 446.69 Crores due to following: O O O Decreased in cash outflow for Capex purpose by ` 690 Crore.07% Net cash flow from financing activities 636.504.36) Figures in ` Crore Change% -18.91% There is decrease in secured loans primarily on account of repayment of rupee term loan of ` 50 crore during the current year. 84 ACC Limited .08 Change (446.94 Change (702.Financial Analysis LOAN FUN 26.950.15 Crore due to following: O O Higher payment of dividend and dividend distribution tax as compaired to previous year.58 Change 182.03) Figures in ` Crore Change% -7. Figures in ` Crore 2010 2009 1.89 2009 550.00 16.73 The net cash from financing activities is increased by ` 182.03 on account of repayment as compared to previous year. LOAN FUN DS: 2010 Secured Loans Unsecured Loans 509. Figures in ` Crore 2010 2009 454.07) (3.397.92 Change (40. No fund raised during the current year while ` 300 Crores was raised in previous year through issue of debentures.72 2009 2.69% Net cash flow from investing activities 802.93 13. Marginal decrease in net working capital.29% -17.15 Change% 40.69) Change% -46. fund used in investing activities has decreased by ` 702. Increased in loans to subsidiary companies by ` 81. CASH FLOW: 2010 Net cash flow from operating activities 1. There is marginal decrease in unsecured loan of ` 3. Decreased in purchase of investment by ` 72. Decrease in Direct taxes paid (net) during the current year. CASH FLO 27.25 During the current year.36 Crore due to following:O O O Lower operating EBITDA during the current year.

268 2007 4.362 567 1.868 75th Annual Report 2010 85 .194 524 2.012 482 1.330 2.355 7.228 306 1.21 1.47 4.056 1.932 6.77 20.73 1.512 2006 4. End Capital Employed (Times) Capital Employ (Times) 20.02 7.234 3.053 2.49 16.02 12.82 1.388 18.213 643 570 23.232 419 813 31.83 21.080 20.40 1.489 18.876 15.40 19.20 10.35 10.96 1.438 8.92 19.17 9.144 2009 6.68 11.89 11.95 14.349 771 1.791 4.746 5.120 819 301 15.045 3.85 10.439 538 901 31.ECONO ONOMIC ALU [EV ST ECONOMIC VALU E ADDED [EVA] STATEMENT ` Crore 2010 Capital employed Avg Capital Employed EVA Net operating profit after taxes Cost of Capital EVA Return on Capital employed (%) Weighted Average Cost of Capital (%) Average Capital Employ EVA / Average Capital Employed (%) Enterprise Enterprise Value Market Capitalisation Add: Debts Less: Cash and Cash Equivalents (Enterprise EV (Enterprise Value) EV / Yr.339 2008 5.607 694 913 25.040 4.

Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the accounting standards referred to in sub-section (3C) of Section 211 of the Companies Act.Standalone Financial Statements Auditor’s Report to the Members of ACC Limited 1. vi. 4. 2010. On the basis of the written representations received from the directors. the said accounts give the information required by the Companies Act. For S. as well as evaluating the overall financial statement presentation. 1956. we report that: i. we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order. 2010. proper books of account as required by law have been kept by the Company so far as appears from our examination of those books. We have audited the attached Balance Sheet of ACC Limited (‘the Company’) as at December 31. Our responsibility is to express an opinion on these financial statements based on our audit. In our opinion. as on December 31. The Balance Sheet. 1956. Further to our comments in the Annexure referred to above. Associates Batliboi S. of the profit for the year ended on that date. we report that none of the directors is disqualified as on December 31. An audit includes examining. Batliboi & Associates Firm Registration No. in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: a) b) c) in the case of the Balance Sheet. in the case of the Profit and Loss Account. 2011 86 ACC Limited . iii. 3. the Balance Sheet. 2010 from being appointed as a director in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act. v. 101049W Chartered Accountants per Sudhir Soni Partner Membership No. R. We have obtained all the information and explanations. An audit also includes assessing the accounting principles used and significant estimates made by management. In our opinion. Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account. 1956. of the state of affairs of the Company as at December 31. iv. which to the best of our knowledge and belief were necessary for the purposes of our audit. We conducted our audit in accordance with auditing standards generally accepted in India. and in the case of Cash Flow Statement. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. of the cash flows for the year ended on that date. 1956. and taken on record by the Board of Directors. In our opinion and to the best of our information and according to the explanations given to us. We believe that our audit provides a reasonable basis for our opinion. 2010 and also the Profit and Loss Account and the Cash Flow Statement for the year ended on that date annexed thereto. 41870 Place: Mumbai Date: February 03. on a test basis. evidence supporting the amounts and disclosures in the financial statements. 2. 2003 (as amended) issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act. These financial statements are the responsibility of the Company’s management. ii. As required by the Companies (Auditor’s Report) Order.

During the course of our audit. including quantitative details and situation of fixed assets. no major weakness has been noticed in internal control system in respect of these areas. secured or unsecured to companies. the Company has an internal audit system commensurate with the size and nature of its business. (v) (a) According to the information and explanations provided by the management. (vi) The Company has not accepted any deposits from the public to which the provisions of Section 58A. No material discrepancies were noticed on such verification. firms or other parties covered in the register maintained under Section 301 of the Companies Act. 75th Annual Report 2010 87 . there were no transactions during the year pursuant to the contracts or arrangements referred to in Section 301 of the Act. 1956. the Company has not granted any loans. (b) All fixed assets have not been physically verified by the management during the year but there is a regular programme of verification which. is reasonable having regard to the size of the Company and the nature of its assets. (vii) In our opinion. As informed. firms or other parties covered in the register maintained under section 301 of the Companies Act. The management has conducted physical verification of inventory at reasonable intervals during the year. 58AA or any other relevant provisions of the Companies Act. Accordingly. (iv) In our opinion and according to the information and explanations given to us. (c) and (d) are not applicable. the Company has not taken any loans. (c) (ii) (a) There was no substantial disposal of fixed assets during the year. there is an adequate internal control system commensurate with the size of the Company and the nature of its business. Accordingly. (b) The procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. (viii) We have broadly reviewed the books of account maintained by the Company pursuant to the rules made by the Central Government for the maintenance of cost records under section 209(1) (d) of the Companies Act. made a detailed examination of the same. however. and are of the opinion that prima facie. (iii) (a) (e) As informed. 1956 and the Companies (Acceptance of Deposit) Rules. (c) In our opinion. sub-clause (b) is not applicable.Annexure to the Auditor’s Report (Referred to in paragraph 3 of our Report of even date) Re: ACC Limited (‘the Company’) (i) (a) The Company has maintained proper records showing full particulars. secured or unsecured from companies. Accordingly. 1956. the Company is maintaining proper records of inventory and no material discrepancies were noticed on physical verification. sub-clause (f) and (g) are not applicable. for the purchase of inventory and fixed assets and for the sale of goods and services. We have not. in our opinion. 1975 apply. 1956. the prescribed accounts and records have been made and maintained. sub-clause (b). During the course of our audit. we have not observed any continuing failure to correct major weakness in internal control system of the company.

service tax. cess and other material undisputed statutory dues were outstanding.97 High Court Supreme Court Total Amount 208. the dues outstanding of income-tax. wealth-tax. provident fund. investor education and protection fund.91 28. sales-tax. employees’ state insurance. no undisputed amounts payable in respect of provident fund.12 311. Further. (c) According to the records of the Company.75 13. income tax. wealth-tax. excise duty. 1994 (Tax/Penalty/ Interest) Cess Matters (x) 2001-02 to 2010-11 0. 1948. excise duty and cess on account of any dispute. debentures and other securities.04 22.21 The Company has no accumulated losses at the end of the financial year and it has not incurred cash losses in the current and immediately preceding financial year. According to the information and explanation given to us and based on the document and records provided to us. customs duty. income-tax.20 6.95 1. 1956. Based on our audit procedures and as per the information and explanations given by the management.78 - 2. we are not in a position to comment upon the regularity or otherwise of the company in depositing the same.72 Central Excise Act 1982-83 to 2010-11 (Duty/Penalty/ Interest) Service Tax under 2000-01 to 2010-11 Finance Act. since the Central Government has till date not prescribed the amount of cess payable under section 441 A of the Companies Act. investor education and protection fund.16 2. service tax.14 10. service tax. are as follows: ` Crore Forum where dispute is pending Name of Statute (Nature of dues) Sales Tax (Tax/ Penalty/ Interest) Period to which CommissAppellate the amount relates ionarate authorities & Tribunal 1982-83 to 2010-11 53. wealth tax. we are of the opinion that the Company has not defaulted in repayment of dues to financial institutions.55 - 3. customs duty. bank or debenture holders. (xi) (xii) 88 ACC Limited . cess and other material statutory dues applicable to it have generally been regularly deposited during the year with appropriate authorities except ` 1.92 Crore at certain locations where we are informed that the Company has applied for exemption from the operation of the Employees’ State Insurance Act.63 18. excise duty. the company has not granted loans and advances on the basis of security by way of pledge of share.Standalone Financial Statements (ix) (a) According to the records of the Company. at the year end.43 43. (b) According to the information and explanations given to us.14 - - 2. employees’ state insurance. sales tax. for a period of more than six months from the date they became payable. custom duty. sales-tax.

(xx) The Company has not raised any money by the way of public issue during the year. (xvii) According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company. debentures and other investments. the Company is not dealing in or trading in shares. Accordingly. the provisions of clause (xiv) of the Companies (Auditor’s Report) Order. (xvi) Based on information and explanations given to us by the management. Therefore the provisions of clause (xx) of the said Order are not applicable to the Company. we report that no funds raised on short-term basis have been used for long-term investment. Batliboi & Associates Associates Batliboi S.(xiii) In our opinion. (xiv) In our opinion. term loans were applied for the purpose for which the loans were obtained. Firm Registration No. 41870 Place: Mumbai Date: February 03. which the management is making efforts to recover. except for two instances of fraud on the Company by its employees involving misappropriation of funds by falsification of documents that resulted in a loss of ` 0.48 Crore. (xxi) Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and as per the information and explanations given by the management. For S. we report that no fraud on or by the Company has been noticed or reported during the course of our audit. the Company is not a chit fund or a nidhi / mutual benefit fund / society. 1956. the provisions of clause (xiii) of the Companies (Auditor’s Report) Order. (xv) According to the information and explanations given to us. (xviii) The Company has not made any preferential allotment of shares to parties or companies covered in the register maintained under Section 301 of the Companies Act. the Company has not given any guarantee for loans taken by others from bank or financial institutions. 101049W Chartered Accountants per Sudhir Soni Partner Membership No. 2003 (as amended) are not applicable to the Company. securities. 2011 75th Annual Report 2010 89 . (xix) The Company has created securities or charge in respect of debentures issued and outstanding at the year end. Therefore. R. 2003 (as amended) are not applicable to the Company.

..016.....Standalone Financial Statements Balance Sheet as at December 31....................................667.........11 2............. Narula Mehrotr otra D.746............ Nayak CEO & Managing Director Chief Financial Officer D....................54 6.......64 778.................................082............44 1............... Share Application Money............................................ Deferred Tax Liabilities (Net) ..... February 03.....................42 (993..........................475...27 2.....94 0............................... Net Block ..................................................96 1..... Reserves and Surplus .........826............84 16.093...........................75) 6....R. 2010 ` Crore Schedules SOUR FU SOUR C ES OF FU N DS: Shareholders’ Funds: Share Capital ......39 13 14 The schedules referred to above and notes to accounts form an integral part of the Balance Sheet For and on behalf of the Board of Directors of ACC Limited.............932............................. A...............84 18 1...................994............................07) 7........................753....... Loans and Advances: Inventories .............................91 (857...076........... Loan Funds: Secured Loans ..................... Mehrotra R...................................................................... Palia Naresh Chandra Naresh Chandra Markus Akermann Markus Akermann L............... 101049W Chartered Accountants per Sudhir Soni Partner Membership No.......... Investments .................................................................... 2011 S.. M......645...................... Unsecured Loans ....95 2...... S....... Batliboi & Associates Firm Registration No................................469............... Sundry Debtors ..............................................354....21 6................................. Less : Current Liabilities and Provisions: Current Liabilities .......... Shah Shailesh Haribhakti Lynam Aidan Lynam } Directors 90 ACC Limited ..........................51 5.................... K............. L.................. Capital Work-in-Progress (including Capital Advances) .......................22 550.................932........... Current Assets......89 523......................... Cash and Bank Balances .........92 349.............150....562..................... As per our report of even date 2010 2009 1 2 187......652........98 4...16 1.................314.................03 56..... pending allotment ................................................................28 1...............92 566........................... N.113..........................00 3 4 5 509......20 6..................................................67 6. Notes to Accounts ...50 1.............080................281............. Batliboi Associates For S............................ Nariman Company Secretary Palia S....................................46 3............................................................828..................82 361..R............................................ Loans and Advances . FU TOTAL FU N DS ......354...............99 516............702................38 10...........................29 2........................ Burjor D.....25 6.....256.........................................................70 746............... Other Current Assets .................. ASSET SSETS TOTAL ASSETS (Net) .91 1...24 7 8 9 10 11 12 914.......95 6.................39 6 8.......... Less: Accumulated Depreciation and Amortisation .......00 3...........80 6....... 41870 Mumbai................................................98 178........................ Net Current Assets ................. M.............................................. Sekhsaria Chairman Hugentobler Paul Hugentobler Deputy Chairman Kuldip Kaura Kaur aura Nay Sunil K.... S..........................................................53 7....156............. Provisions .158..................................93 13...............12 523................................................49 187..963......... APPLICA FU APPLICATION OF FU N DS: Fixed Assets: Gross Block ...............................98 203.......35 2..............08 5............................94 2..

...........267.00 0...................................... Previous Year Dividend Distribution Tax ...........................724......39 (673................................. M......................... Nariman Company Secretary Palia S............ Palia Naresh Chandra Naresh Chandra Markus Akermann Markus Akermann L............ L............... Batliboi Associates For S.71 846......38 7..R............................................................................ Dividend Distribution Tax ..............88 95.....................66) 1.......................................................64 187...............................973............................ Other Income .........85 85.. Shah Shailesh Haribhakti Lynam Aidan Lynam } Directors 75th Annual Report 2010 91 ........................................................46) (0........................ Nayak Kuldip Kaura CEO & Managing Director Chief Financial Officer D...203..............16) 82.75 384.... Proposed Dividend {Refer Note .................... 101049W Chartered Accountants per Sudhir Soni Partner Membership No.............................................................. As per our report of even date 2010 8.24 697...........546.461.....................606.................................70 244..........................................074................42 8.. Tax adjustment of an earlier year ..........................323..................00 25..44) 1.............30 5....... Narula Mehrotr otra D.... Balance brought forward from Previous Year ..............................................65 880........................381...28) (341...........33 356... M..................78 6.............................................................60 85.20(b)} ....... Deferred Tax Charge ........... Batliboi & Associates Firm Registration No............................................................... Interest expenses ..... Less ........41 ` ` 59...................30) (13..................... XPENDIT DITU EXPEN DITU R E: Manufacturing and other expenses .....06 73.............................................. 2011 S.. A...................09 84................................Excise Duty ... Profit after Profit after Tax .84 342..........................20 240.....027.......................................... Amortisation Reserve .......................... Sekhsaria Chairman Hugentobler Paul Hugentobler Deputy Chairman Kaur aura Nay Sunil K.....612.. Sale of Products and Services (Net) {Refer Note ...............93) 250....... N.......79 3...........................................................62 5..................................120...85 4..........................Profit and Loss Account for the year ended December 31............... K..................................................................................................................................................... Diluted .................... Profit befor ore Profit before Tax .....................R.01 3.............. February 03............. Appropria opriations: Appropriations: Interim Dividend . S......................................... Depreciation and Amortisation .......... Profit av for appropria opriation Profit available for appropriation ......68 56................. Provision for Tax Current Tax .............73 2...............00 25. Debenture Redemption Reserve ...........52 2009 8.........................294..........................717........................38 350............477....35 392...........................10 (0....... Earnings per Share {Face value of ` 10 each (Refer Note .....................................90) (687.......163.........91 4.......................................65 942.....................................45 (411............................ General Reserve .......04 8............ S.45 3........ Surplus carried to Balance Sheet ...563.....203.........23 2.........86 187...............26 6......... Mehrotra R..42 15 16 6 17 18 The schedules referred to above and notes to accounts form an integral part of the Profit and Loss Account For and on behalf of the Board of Directors of ACC Limited..............66 59............. 2010 ` Crore Schedules NCO I NCOME: Sale of Products and Services (Gross) ...............................00 (12............................ 41870 Mumbai..............6)} Basic .............................................................. Burjor D.......00 0.18 & 21(A)} .. Fringe Benefit Tax ............................. Notes to Accounts ...81 1........................................................................084........93 8....................

.....(Net of refunds) ................................... Cash flow from investing activities 15 Loans to Subsidiary Companies .27 2..................................... 16 Purchase of Fixed Assets (Including Capital work-in-progress) .....45 392................................85 2........... 6 Provision for Bad and Doubtful Debts and advances (Net of adjustment) ................... K.................51 0.09 2...............................................59 1..............................70 239.............................................461.........72 (35... Cash and cash equivalents at the end of the year ........84 (121.........30 31.................387.................... Shah Shailesh Haribhakti Lynam Aidan Lynam } Directors 92 ACC Limited .........................29 1................ Cash and cash equivalents at the beginning of the year .....39 342..080..........95) 1................ 24 Proceeds from Short term Borrowings .85 746. Cash flow from operating activities 1 Net Profit before Tax .........................................523..875............ 14 Direct Taxes Paid ... 9 Provision for obsolescence of spare parts ...................... Nayak CEO & Managing Director Chief Financial Officer D.................................... Adjustments for: 2 Depreciation and Amortisation ........23) 22...................74 1.................... S...........129......` 26.................................. 4 Interest and Dividend Income .................................. Batliboi & Associates Firm Registration No...............................................................875......................50) 16....................................387....23) (636.................................................. from inv activities Net cash from investing ac tivities ............... 21 Interest Received ..............................................60) 84.................48) 56................ increase (decr decrease) equivalen alents Net increase / (decrease) in cash and cash equivalents .......................20 44........................79 (802.......... Burjor D...................................67 (75............66 41..........................Standalone Financial Statements Cash Flow Statement for the year ended December 31...................25) (93..............................................................................19 1.. 1...............................68 38....438.......................................................................................................19 14............ Mehrotra R......... 12 Decrease / (Increase) in Other current assets .................. Add: Investment in Mutual Funds ...... 13 Increase / (Decrease) in Current liabilities and Provisions .... 2010 ` Crore 2010 A............................. 18 Purchase of Investments ............................................................................................ 23 Proceeds from issue of Share Capital (Including Securities premium) .................................14) 35........................................ 5 Interest Expense .................................................693... February 03.......................................87 (1........03 1..........875...... 2011 S............................................... Note : Cash and Cash Equivalents includes ` 27.................891.00 (215...............94) (105.................................. Notes to accounts form an integral part of the Cash flow statement As per our report of even date For and on behalf of the Board of Directors of ACC Limited.......... 7 Consumption of Machinery spares .........16) (11.............................48) 0.................... Operating profit before working capital changes ..........................81 2..........44) 1. Palia Naresh Chandra Naresh Chandra Markus Akermann Markus Akermann L.............. A.` 24............R..........56 1.............................................. 11 Decrease / (Increase) in Inventories ...93) (454.......................33 Crore (Previous Year ................................................................ M..........................................78) 51................... 17 Proceeds from sale of Fixed Assets .... Cash and Cash equivalents in cash flow statement ......... L.............................. N.............. 41870 Mumbai......71 84...................................64) (833...307........... Cash from opera activities Net Cash flow from operating ac tivities ............12 (1..... S.......... activities Net cash used in financing activities ......................R......................... Batliboi Associates For S.......397.01 1.............................................................08 9.............................. 26 Repayment of Long term Borrowings ...................73 2.................. C......90 300....................38 Crore)} .85 B.................907...73 (207...................................................................................78 (31...........56 2....................... Cash generated from operations ................. 19 Purchase of Investment in subsidiary Companies ...............................27 14......................... M.. 27 Dividend paid (including Dividend Distribution Tax) .................................................03) (500...... Cash flow from financing activities 22 Interest paid {includes capitalised ` 36.............(Previous Year ....................... Nariman Company Secretary Palia S........37 (98........................ Movements in Working Capital: 10 Decrease / (Increase) in Sundry debtors and Loans & advances .........026.......................60 50............... Components of cash and cash equivalents: Cash and Bank Balances as per Balance sheet ...................................20) 1...................................38 1.... 101049W Chartered Accountants per Sudhir Soni Partner Membership No........ 8 Wealth Tax provision .........29 0..... 20 Dividend Received ............... 25 Proceeds from Long term Borrowings ..11) (435.60 Crore ............... 3 Loss on sale / write off of Fixed Assets (Net) ...........55 (76............................59 2009 2............................................71 71..................... the balance of which is not available to the Company..................................93 (53............................................05) 2.........................504........................................................02 Crore) in respect of Unclaimed Dividend......08 45....294...............47 1....................... Sekhsaria Chairman Hugentobler Paul Hugentobler Deputy Chairman Kuldip Kaura Kaur aura Nay Sunil K.......56 138.....................................................58) 437....................11 (37.............. Narula Mehrotr otra D..........23) 7.......950...........13 (494......73) 511.............

281...........00 100....................... TOTAL .....00 25.(Previous Year ......... ount Profit Loss Accoun Profit and Loss Account ............... 9.......84 1..00.......................77....... RESERVES AND SUR PLUS 2010 Reser eserv Capital Reserve Balance as per last account ..72..........................87............ Add:Additions on exercise of Employees Stock Option ............060 (Previous Year ...........50........00.... ISSUED ISSUED 18...Schedules forming part of the Balance Sheet SCH EDULE SHARE CAPIT APITAL SCH EDULE ...00......000 (Previous Year ......640 (Previous Year ............................75 0. Add:Amount transferred from Profit and Loss Account ...............828.......000 (Previous Year .....179) Equity Shares of ` 10 each ....319.................... SHARE CAPITAL 2010 HORISED AU THOR ISED 22.... 2010 ..72............... 10...........................669......4..............00 60.87...79 3.203............. 2010 under the Employees Stock Option Schemes .......20 225....................88.......00 67.............64 67..356 (Previous Year ...........00 100.93............95 187..........................3.....00 325. Amortisa tisation Reser eserv Amortisation Reserve Balance as per last account .......243 (Previous Year ..........60..............52....054 Shares) ESOS 2001 .292) Equity Shares of ` 10 each fully paid ..........10..77...381................669.. Options in force as of December 31.....00....................................00 1.... Add:Amount transferred from Profit and Loss Account .54 ` Crore 2009 82....00 25..4....65 7...50......................9...64 844........... Add : 3..45.00 35...52...................080 (Previous Year ...84......................85 5......79 187.78 187...........18.....................................94 187................................. 67........00 6......(Previous Year ....20 187..................................86 250. fully paid issued by way of Bonus Shares by utilisation of Securities Premium and Reserves...19............86 350....18........14 0........1.93 1............................84...per share till October 30..00 188......00 325............69 1........Vested Options exercisable @ ` 127/.................Nil .......76 844... Notes : Out of the above 60.............. General Reser eserv General Reserve Balance as per last account ............15 844....................................19..........000) Equity Shares of ` 10 each ................49 0........................74 0........Amount Paid .919............... Debentur Redemption Reser ture eserv Debenture Redemption Reserve Balance as per last account .............41 6..........Nil .....02 3... Securities Premium Premium Balance as per last account .........20 187.... Less:Provision for capital subsidy receivable {Refer Note .......00...................65 7.....................00 188....14 0....40.64 842.....00 1....... Add:Amount transferred from Profit and Loss Account ...........080) Equity Shares of ` 10 each......94 ` Crore 2009 75th Annual Report 2010 93 ......86 10...00......054 Shares) SCH EDULE RESER ESERVES AND SUR PLUS SCH EDULE ....................060) Equity Shares of ` 10 each Forfeited .....64 15...........640) Equity Shares of ` 10 each.........000) Preference Shares of ` 10 each ................. SUBSC BSCR SU BSCR I B ED 18.22...........69 0... fully paid issued for consideration other than cash pursuant to contracts.....00 7..86 35.....................13B(c)} .. TOTAL ....2.95 225.............................. Employ Employees Stock Option Outstanding .

............................ {Due within one year ` 3....12 9....3.....................................................00 * The mortgage / charges indicated in above rank pari-passu inter-se and are subject to the prior charges in favour of the Company’s Bankers on specific movable assets for securing working capital requirements / guarantee facilities..88 533.` 3............. Term Loans from Banks ..............65 71...............................Standalone Financial Statements Schedules forming part of the Balance Sheet SCHEDULE SECUR LO SCH EDULE ........................ 8................................................................................... 2014 .4......... {Due within one year ` 1.......... 533..84 57..................... SECUR ED LOANS 2010 PRIVATELY PLACED NON ..........` 1. DEFERR ED TAX LIABI LITI ES (Net) 2010 Deferred Tax Liabilities arising on account of : Depreciation and amortisation differences ..................53 ` Crore 2009 498.......................................24 Crore (Previous Year ..............32 172....................................................................................00 300............................000 (Previous Year 3.................... Provision for obsolescence of Spare Parts ..........41 Crore)} TOTAL .............24 Crore)} (Refer Note ........................................................................................................54 23..5..88 47......................................IDCOL .........00 300.....77 13..39 498..........00 50..39 44................41 Crore (Previous Year .........................35 361............65 43...................... 2013 ...................................... *Secured by Hypothecation of inventory and books debts TOTAL .... UNSECUR ED LOANS 2010 Long Term Loans Deferred payment Liability ...........00 - 200......................19) Deferred Sales Tax Loans ........................92 SCH EDULE DEFERR LIABI LITI SCH EDULE ......93 550............................00 9........... Expenditure debited to Profit and loss Account but allowed for tax purposes in the following years ........................................................................CONVERTIBLE DEBENTURES *Secured by a charge on all movable and immovable assets under the Debenture Trust Deed (a) 2.................000 (Previous Year 2.16 33........................89 7.....................14 349..... SCHEDULE UNSECU NSECUR LO SCH EDULE .......000) 8........ (b) 3.25 94 ACC Limited .......... Deferred Tax Assets arising on account of : Provision for Employee Benefits ..........................................93 509.......000) 11......................................................................` 50 Crore)} Cash credit facility from Bank ..45% Non-Convertible Debentures redeemable at par on October 07.........................18 16......... *Secured by a Mortgage on certain immovable properties and hypothecation of all movable assets except book debts {Due within one year ` Nil (Previous Year ..... Net Deferred Tax Liabilities ................. ` Crore 2009 200......... Others .............33 149..30% Non-Convertible Debentures redeemable at par on December 09...............74 ` Crore 2009 5........................

835.31 2.97 6. 11.49 3.51 2.10 Capital Work-in-Progress {Including Capital advances ` 97. 3.04 0.826. Gross Block ` 28.76 120.77 62.61 812.942.16 19. 6.` 201. 4.48 Crore).99 Crore) respectively.87 5.158.91 161.26 30.667.32 3.44 57.14 1.43 0.21 8.82 2.97 24.622.Schedules forming part of the Balance Sheet SCH EDULE ASSET SSETS SCH EDULE . Plant and Kilns Roads. 5.79 19.98 2. in respect of expenditure incurred on capital assets.411.31 55.69 710.22 93.35 15.15 13.04 43.83 6.156.28 49.462. 7.09 0.20 63.6.96 11.17 Crore (Previous Year .16 33.` 6.` 8.960 (Previous Year .20).74 Crore )} Notes:.36 6.129.752.12 39.22 2.63 10.059.10 116.38 9. Trucks.82 51.667.29 148.826.27 5.95 6.40 23.147.89 34.68 Crore).31 192.48 Crore (Previous Year .86 6.83 6.35 Crore (Previous Year . 2.82 3.17 19. Rolling stock includes assets given on lease to Railways under “Own Your Wagons” Scheme.75 77.92 109. Computer Software Mining Right Sub Total TOTAL Previous Year 12.710) in various Co-operative Housing Societies.586.62 66.61 19.83 392.50 6.29 1.44 6.994.365.32 11.21 10.19 4.48 Crore (Previous Year ` 28.27 2.875.88 95.52 4.41 52.06 0.35 3.428.85 0.04 576.51 2.16 5.72 31.59 Crore).32 93. ` 26. Fixtures and Equipments Motor Cars.158.81 5.02 74.27 44.98 3.60 87.81 40.09 66.30 32.082. ` 4.02 29.` 12. FIXED ASSETS ASSET SSETS FIXED ASSETS ROSS BL AT CO ST G ROSS BL O C K AT CO ST As at Additions/ 01-01-2010 Adjustments Deductions/ As at Adjustments 31-12-2010 ` Crore DEPRE CI AT AM RT ISA DEPRE CI AT ION / AM O RT ISAT ION As at 01-01-2010 For the Year BL N ET BL O C K As at 31-12-2009 Deductions/ As at As at Adjustments 31-12-2010 31-12-2010 Tangible Assets : 1.11 1. etc.08 51.68 Crore (Previous Year .48 99.63 8.67 0.68 342.` 0.45 0.411.99 2.48 Crore) and accumulated depreciation ` 28.44 148.82 78.01 2.72 54.96 192.32 30. 8. 55.114.76 161.23 39.65 1. in respect of 17 residential flats (Previous Year .44 4.70 33.314.20 34.15 40.28 Crore (Previous Year . Sub Total Intangible Intangible Assets : 10.99 656.40 0.99 44.18 2.36 385.88 1.09 5.053.00 134.80 2.02 74.88 114.84 30. Freehold Land Leasehold Land Buildings Machinery. 21.18 6.59 107.69 21.17 Crore) and Net Block ` 0.01 334.002.27 66.30 Crore (Previous Year .05 0.09 13. Bridges and Fences Railway Sidings Rolling Stock Furniture. (iii) Machinery. 75th Annual Report 2010 95 .04 27.62 156.78 0.65 133.45 1.` 28.16 68.02 22.076.05 2.(i) (ii) Buildings include cost of Shares ` 5. Plant & Kilns and Roads Bridges & Fences include Gross Block of ` 12.40 82.562.` 26.44 26.99 2. ownership of which does not vest with the Company.

..........................000 23............. ......000 8.(Previous Year ` 0 .............................95 100................... (iv) ACC Concrete Limited .507 22............ (ii) Unquoted** 5................................................................................50.......................................................Fully Paid (Unquoted):(i) Bulk Cement Corporation (India) Limited .01 Crore) deposited with Government and others as security deposit} (b) Equity Shares ....... 10 10 10 408.......................650 5.000. .000 47.......71 3.................(At Cost unless otherwise stated) Face Value ` Investments Long Term Investments Trade Investments (a) Equity Shares ...............000.. 10 100 100 10 100 10 10 31.....Fully Paid (Unquoted):* * * * * * * * Kanoria Sugar & General Mfg...71 3...................65 Numbers 2010 ` Crore 2009 ` Crore 96 ACC Limited .000 100....10 4.............13% Himachal Pradesh Infrastructure Development Board Bonds ...71 1............................................... The Travancore Cement Company Ltd.........00 16.......34 Other than trade investments (a) Government Securities *(i) Quoted ...............Standalone Financial Statements Schedules forming part of the Balance Sheet SCH EDULE INVES MENTS NVEST SCH EDULE .................................71 37..................................Fully Paid (Unquoted):(i) Alcon Cement Company Pvt.................................... .78 100...00 16............. (iii) ACC Mineral Resources Limited ......................... INVESTMENTS ..................Fully Paid (Quoted):Shiva Cement Limited ............. The Sone Valley Portland Cement Company Ltd............10 4........ Ltd.....050 325........24 100......... Company Ltd............000........ Ashoka Cement Ltd......... The Jaipur Udyog Ltd. Gujarat Composites Ltd.........000 37 3..............................25 45.........................35 83....65 23..............................27 38............... 10 10 10 10 5 10 10 10 4 60 220 120 100 100 50 90 3.................. ......................... (Allotted during the year) ....... 2 23............. . ............. Ltd....................000 bonus shares received during the year) (b) Equity Shares .................... Ltd (Acquired during the year) ...................................06 Subsidiary Companies (a) Equity Shares ..... ... { ** includes ` 0................ ................ Ltd............ 22........................................000 100...650.24 11..... Digvijay Finlease Ltd..90 (ii) Asian Concretes and Cements Pvt.......................................56 (ii) Lucky Minmat Limited ........95 100............100........... ..........000 37........................ (v) National Limestone Company Pvt........ (b) 1% Cumulative Redeemable Preference Share Fully paid (Unquoted) ACC Concrete Limited ........................................... ................81 0................. (vi) Encore Cement and Additives Pvt...................00 296....27 38.................. (Acquired during the year) ...........000.25 36............................7.............00 308.. (iii) Moira Madhujore Coal Ltd.000 495. (21...............842............... Rohtas Industries Ltd.......01 Crore ...................001 8..................

016 18........109......................................... JP Morgan India Liquid Fund ....... trade Current Investments... DSP Black Rock Liquidity Fund Institutional .........124..................222.......346...Institutional ........ Baroda Pioneer Liquid Fund Institutional ....112......................270.............. Fidelity .......314 50.................161.....651.......212.......................FMP 3m Series 23 ..................................11 12................... HDFC Floating Rate Income Fund . Birla Sun Life Cash Plus Institutional Premium ............001...............11 5. DSP Blackrock .........STP .........................07 10................... Axis Liquid Fund ............ DSP Blackrock ..................106..811 73.00 - 75th Annual Report 2010 97 .........980 50...........................01 38.. Fidelity Cash Fund Super IP ..169 37..........(Contd......982 35....707.........................675 73..03 75...321............................................ DSP Blackrock .........14 17.16 75.022............665............856.............. UTI Liquid Fund Cash Plan IP ....47 46................543 46...........................098........395.......866 75...............Schedules forming part of the Balance Sheet SCH EDULE INVES MENTS NVEST SCH EDULE .227 300......703 37..........000.............29 34......... SBI Magnum Instacash Fund ....000 1..............647.....031......656 9...........179..........................Super IP ....717 74...............Cash .......... Baroda Pioneer Liquid Fund Institutional .......893 59.638..................17 20...........019..........07 56...........669.......752 752......577......08 74..476. Tata Liquid Fund Ship ......15 49... Numbers 2010 ` Crore 2009 ` Crore 1................002...............................................236 13......................................01 5.. Birla Sun Life Cash Plus Institutional Premium .............000 10 10 10 1..................113 24...............................000 10 10 10 10 10 10 10 10 10 10 100 562............005....................31 18................677 30..............525...........................308.14 6...........37 73..................000 12................... Reliance Liquidity Fund ........550..............................................................468................058..........770...Plan B ...............................26 10.................01 40..........213..........06 40..... JM High Liquidity Super IP .....FMP 3m Series 24 .281........ INVESTMENTS ....................466...........................293.Qif .......................................................04 19..........................463... LIC Mutual Fund Liquid Plan ............................000 10 10 10 1.........003......................618..7... DSP Black Rock Money Manager Fund Institutional ...............................565..........108....165................672.......................003..................... Prudential ICICI Super Institutional Plan ..225.............. DSP Black Rock Cash Plus Fund Institutional .................23 40.568 46...........000........................350 7.06 30......12 30...................................000...... Religare Liquid Fund Institutional Plan .....................496 39.......................................................................788 27..15 9.......762..139 190...........08 40..126 16..........936...................Fully paid-up (Unquoted):Reliance Liquidity Fund ...16 75........................FMP 3m Series 21 .........23 75... HDFC Liquid Fund Premium Plan .............435.... other than trade (lower of cost or fair value) Investment in Mutual Funds .......................000 20.................12 20..................................218...........................000 1..........328...016.....213.. Sundaram BNP Paribas Money Fund Super Institutional .. HDFC ........426..................488.............................839 56.986....213 5...........22 75....... DSP Blackrock ....279...............................033........738 10...587 40..................................................808.....Qif ..31 13....395 32.......683.............Ultra Short Term Debt Fund ...................................... IDFC Cash Fund Plan C Institutional ...................991... DWS Insta Cash Institutional ....000.............109 37...........................Premium Plan ....................45 25......992 351...............258....426 574......................000........... DWS Treasury Fund .....) Face Value ` Curren Investments ent ts.............. ICICI Prudential Flexible Income Plan Premium ..................326 17...000............005................28 44.000 10 10 10 10 10 10 10 1.............614 39...........11 40..09 19..12 37.... Birla Sun Life Cash Manager Institutional Premium ..........15 56.............000 25...............000 1........689................22 37............207........03 16...01 6. Sundaram BNP Paribas Money Fund Super Inst DDR ....05 5.... Templeton India TMA Super Institutional Plan ..066..............000 10 10 10 10 10 10 10 10 10 10 10 100 1.. DSP Black Rock Cash Plus Fund Institutional .....................496.................. Axis Liquid Fund ...Plan C ...... HDFC ...........903 10............................564 44.000 13..468 20. DBS Chola Liquid Institutional .......31 25......569 40.460 70............01 13..761.682.................975....095...........177 10.FMP 3m Series 22 ............... Fortis Overnight Fund Institutional Plus ...................... Canara Robeco Liquid Super Institutional .............................970.... Kotak Liquid Institutional Premium .......... Principal Cash Management Fund Institutional Premium ......... HDFC Liquid Fund ........................

..........QIP ...Super IP ................177 30...000.. ICICI Prudential Interval Fund III Quarterly Interval Plan ........049................. (II) * Denotes amount less than ` 50.........Standalone Financial Statements Schedules forming part of the Balance Sheet SCH EDULE INVES MENTS NVEST SCH EDULE ......460 8..........956..................000............7... Sundaram Money Fund ...` 19..001..................(Contd........IP ...................................528.........000........................000..... UTI .............................. Sundaram Ultra Short Term Fund .............903..679.............. Principal Pnb Fmp 91d ...000...............08 17..................02 44..... Sundaram Money Fund ... Kotak Quarterly Interval Plan .307.47 10.....Series II ......343........STP .....FRF ............. Sundaram ........05 15..........944 2010 ` Crore 44.....000 Numbers 4..811.......67 23.Super Institutional .........025 200.................... TOTAL .......12 24.................18 20.................... SBI ..............015.......05 12...........756...997 8.... INVESTMENTS ...........963...........08 8................33 20......803 84...................000 26...000.....848.TP .......................Series XXVI .........064..14 15.............................IP . JM High Liquidity .....015.801 19. IDBI Liquid Fund ...........................Institutional .........10 41...............Interval Plan .....................20 20.......09 10...02 38.............3m ..477 19..Inst ............................... Kotak QIP -Series 9 .....405 7...........Super Institutional Plan .......Quarterly Plan ............................................268.. SBI Magnum Instacash Fund ..186....036 9......................04 8................ SBI Premier Liquid Fund ..Interval Plan ......... Sundaram Flexible Fund St Institutional .......908...........IV ..050................491..............................04 9.............Interval Plan ...........................Inst ............................Ultra Short Bond Fund ......FIIF .....006...IP ......... Religare Liquid Fund .....074 201.084.47 1.Inst .......................08 20....327.....01 13....90d .....000 10 10 1.......Super Inst ..........................................................................FIIF ..........972.............................56 1.......822 17....................99 98 ACC Limited ...QIP ....037.......000.........00 10...................475......321...002........................Inst ......415 131........07 20................... Sundaram ..........QIP . Kotak Flexi Debt Fund ......... Religare Active Income Fund Institutional ......000.10 10.Series XXV ..........18 33.............13 15.. ICICI Prudential Quarterly Interval II .685........Debt Fund Series ......000.....................Super IP ...........................Super IP ................Institutional Plan ........285............ Religare Fmp Series IV Plan C .....................D ............... SBI ...................121....25 10......................000 10.......000........................000 8.....38 20.185.811 41.........................989.....480 12...03 20. SBI ..001... Religare Liquid Fund ......E ...........909 15.Series XXIV ...18 20.... Principal Pnb Fmp 64 ....................065...................... Templeton India ......000..........826................64 23........................... Religare Fmp Series IV Plan A ...14 25...000 10...... UTI Treasury Advantage Fund ...................792... Kotak QIP -Series 10 .....37 .....943..501 25...) Face Value ` ICICI Prudential Liquid Super Institutional Plan ..............172..129......002.....314 9...01 8...001...Inst .....370. Tata Liquid Fund.......Debt Fund Series ...468.............11 15........44 Crore (Previous Year ..........3m ........................14 30....90d ............. Kotak Liquid .173................288..Institutional Premium ......007....275 10......................Super Inst Plan C .............91d ...............678 2...........000 10.... Notes (I) Aggregate amount of quoted Investments .......125.............714 13..000 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 1...........................770.................14 10..989 8...............061 19...000 10 1...............112.......... {Market value ` 17...........................................304 24.............403..........Super Institutional Plan ........999............841.000....911 36....004.000.....537...17 7.. IDFC Money Manager Fund ......000..TMA ..............853..329.............960.............26 13.098.Ship ....214.............SHF ....... IDFC Cash Fund .........Institutional .000 15..517 14.36 ........000 100 10 10 100 10 10 10 10 10 10 10 10 10 10 10 1............Institutional Plan ..827 38.........702....243 20...000 15.......848 15.....06 16....................451.................000 16.........000.........Super Inst ..........03 1..................................11 20...........000...................897.......... Sundaram ...........58 Crore)} Aggregate amount of unquoted Investments ..............144 15....................058.....700 18................20 141..457 199....Plan C .65 1..13 18................................Ultra Short Term Fund ........Super Inst .............QIP ...222 32.005.468..341 8............. Tata Floater Fund .....000 20................Series III ....07 25...................... Templeton India .....Series 5 ..............................002.17 26..........02 2009 ` Crore 1.........02 14..337....................................................C .09 15...................258....... ICICI Prudential Ultra Short Term Plan Super Premium .. Pramerica Liquid Fund .....91d ... JM Money Manager Fund Regular Plan .................. Principal Pnb Fmp 65 ......................................405. UTI ...001..............65 1................. L & T Liquid Fund ...19 9.....001 25.999........ UTI ..100....000................

.......... HDFC LIQUID FUND ..DIVIDEND .......000......3 MONTHS ...............INSTITUTIONAL PLUS ........754.JUNE 91D ............ HDFC FMP 90D JUNE 2010 ......................PLAN A .........00 114.000......000 370...........000 10..00 208....670........ KOTAK QUARTERLY INTERVAL PLAN SERIES 1 .........177.. L & T FMP 1 (AUG 91DA) .PLAN B .00 3.............988... L & T FMP 1 .............7... INVESTMENTS .....00 75th Annual Report 2010 99 ..952...............711 10..00 52...948... L & T FMP I ...............404.......00 43...........637...SERIES XIV .......... HDFC .....704......00 116.............551 199...................DIVIDEND PLAN ............SUPER INSTITUTIONAL PLAN .998..................012........................00 10........996.....997 209...IP ........159 168..918..........000.....FMP .DIVIDEND ...............971 25.........DIVIDEND .....045 15...........................................................000.......00 11..474 42......INSTITUTIONAL ....00 210....000................DIVIDEND ........................................00 169.......DIVIDEND ...00 10.000......DIVIDEND ..................... of Units Purchase Cost ` Crore 3.......00 53....... DWS INSTA CASH .........................DIVIDEND ....... HDFC .362 181...00 407.........................DIVIDEND ...305..............666....DIVIDEND ..... DSP BLACK ROCK LIQUIDITY FUND ...................... BIRLA SUN LIFE ..000.00 23. BSL INTREVAL INCOME FUND .DIVIDEND ....................INSTITUTIONAL PREMIUM ................ PRINCIPAL MONEY MANAGER FUND ..070...................SERIES 1 ...00 7........DIVIDEND ..................000............INSTITUTIONAL ..............................................000 23........000 1..885.......055.........000.........075.. Face Value ` 10 1.................SUPER INSTITUTIONAL DIVIDEND ...LTP ......................260 128..........................................00 9.......000.INSTITUTIONAL PREMIUM .........DIVIDEND ............00 10...727 51.......000..DIVIDEND ........................................00 10............290......INSTITUTIONAL PREMIUM ....35D AUG 2010 ............................................ JP MORGAN INDIA LIQUID FUND .......00 11..00 60... BSL QUARTERLY INTERVAL FUND ........DIVIDEND ....... PEERLESS LIQUID FUND ..............588...........429.....00 52... KOTAK LIQUID .......077 19...................................994.................... BIRLA SUN LIFE CASH PLUS ....................826 52.............902 381.......770....SERIES XIII ....................549.......DIVIDEND ....000...000 182..........670..........772 11......(2) ...844 599.................00 10.............000......................DIVIDEND .............................000 113.......259 3.............................................961......DIVIDEND .000...00 13...DIVIDEND .. IDFC CASH FUND .Schedules forming part of the Balance Sheet SCH EDULE INVES MENTS NVEST SCH EDULE .DIVIDEND ...............QIF ....DIVIDEND .......DIVIDEND REINVESTMENT .........549.............781...JULY 91D ..............................FRF ..00 12.. HDFC QUARTERLY INTERVAL FUND ...............FMP ..........171 19............. DSP BLACKROCK FMP ................000.170....IP ...... HDFC .............399...DIVIDEND ....000..........000..............404 1.....000......................................00 20..............SERIES 5 ......... DSP BLACK ROCK CASH PLUS FUND .............INSTITUTIONAL ............. JM HIGH LIQUIDITY .. AXIS LIQUID FUND ...........003......850....................................00 129.000........... KOTAK FLOATER SHORT TERM ..........DIVIDEND ...LIQUID ..........000...994......... L & T LIQUID INSTITUTIONAL DIVIDEND REINVESTMENT PLAN ............................DIVIDEND .....00 20.................................746.000 10 10 10 10 10 10 10 10 1....................SERIES 4 ................... CANARA ROBECO LIQUID .....000 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 No....SERIES 18 ..............710..948...........INSTITUTIONAL ......000 114.... L & T FMP 1 ...000............447.............I P ...........DIVIDEND .......(SEPTEMBER 91 D A) DIVIDEND .............00 224........00 15..00 60.................000.............DIVIDEND .....................DIVIDEND .000..416 8....PREMIUM PLAN ................DIVIDEND .............000..787..000 11........00 19....694 51....................... CANARA ROBECO FRF ....................661.....000 10...........QIP ...............000 19..........................SUPER IP .00 25........401.........SUPER IP...974.... LIC MUTUAL FUND ....DIVIDEND ........................................... BARODA PIONEER LIQUID FUND .............DIVIDEND ....PLAN C .SERIES 4 ..............000 11.00 20..INSTITUTIONAL .) (III) During the year the Company acquired and sold the following investments in Mutual Funds PARTICULARS AXIS FIXED TERM PLAN ......................654....00 140............. KOTAK QUARTERLY INTERVAL PLAN ....780 59.............SERIES XIV ..................... PRINCIPAL CASH MANAGEMENT FUND ..................35D .256..............SEP2010 (2) .. BNP PARIBAS OVERNIGHT FUND ................984........000 9.576....................(contd............00 382...134..427 3............................ FIDELITY CASH FUND.....568 207...679 7........000 13......DIVIDEND ..........DIVIDEND ..........00 222.......000.............000 9...

............00 38.001........000.............942...00 15...837 49...DIVIDEND ..993..............931........DIVIDEND .........193........ SBI PREMIER LIQUID FUND ...346..108....866.338.........................MONTHLY INTERVAL PLAN ..INST .) (III) During the year the Company acquired and sold the following investments in Mutual Funds (contd.....393.... RELIANCE INTERVAL SERIES .................DIVIDEND ............000 10....000 1.DIVIDEND ....000....INSTITUTIONAL ..00 14.........................7.......254 19.276. RELIGARE OVERNIGHT FUND ........00 14.......374...) PARTICULARS PRUDENTIAL ICICI SUPER INSTITUTIONAL PLAN ..00 46.........000 1....00 46..........IP. SUNDARAM BNP PARIBAS INTERVAL FUND QUARTERLY PLAN .....SUPER INST.DIVIDEND .......000 1............. INVESTMENTS ...00 14......MONTHLY DIVIDEND .....00 207...............884 32... TATA FIXED INCOME PORTFILIO FUND SCHEME A2 ..209 87..... RELIGARE LIQUID FUND ...000 No.SERIES II ........................776........I ............. UTI FIXED INCOME INTERVAL FUND ...........000 20.00 38......INSTITUTIONAL .....QUARTERLY DIVIDEND ....INST MONTHLY DIVIDEND ............SUPER INSTL PLAN ..... TAURUS LIQUID FUND ..........SUPER INST.INSTITUTIONAL PLAN DIVIDEND ........DIVIDEND UTI LIQUIID FUND .DIVIDEND ...QUART INTERVAL PLAN VII DIVIDEND UTI FIXED INCOME INTERVAL FUND ..........QUARTERLY DIVIDEND .....QUARTERLY INTERVAL PLAN .....801..000...DIVIDEND .. of Units Purchase Cost ` Crore 25..............412....IP.................000.I ..209 92...00 93....II .DIVIDEND . TEMPLETON INDIA .993...........................DIVIDEND .............................DIVIDEND .000............................QUAR INTERVAL PLAN -VI .....984.....QIP ...000.....00 5..00 15.......... SBI MAGNUM INSTACASH FUND .453 15....DIVIDEND ...000............ UTI FIXED INCOME INTERVAL FUND ..TMA ...............534 254.......254..............935.................... SUNDARAM BNP PARIBAS INTERVAL FUND .......QUARTERLY PLAN B ................. TATA LIQUID FUND.00 20....00 300....00 20......000 13.....D ........Standalone Financial Statements Schedules forming part of the Balance Sheet SCH EDULE INVES MENTS NVEST SCH EDULE ....00 220.....DIVIDEND REINVESTMENT .931...............INST ............00 10... TATA FLOATER ...00 133.000.872..........IP .....000 38.. TOTAL ........667 459.....802 28........002. UTI TREASURY ADVANTAGE FUND ......00 93...........000 2........... UTI FIXED INCOME INTERVAL FUND ...159 131............449 19...............002..............SERIES ....................993........000............000...948...DIVIDEND .....901.............DIVIDEND ..................959 44.......000..500 929...951.00 88.............00 26.QUATERLY INTERVAL PLAN .................................3 ..........581 37........194 14..... RELIANCE LIQUIDITY FUND .000 17....... UTI FIXED INCOME INTERVAL FUND .....205......... SUNDARAM MONEY FUND .............921 206..000....... SUNDARAM BNP PARIBAS MONEY FUND ..INSTITUTIONAL PLAN .............00 44........ UTI FIXED INCOME INTERVAL FUND .....791 38.....023 1.992.................... TATA FIXED INCOME PORTFILIO FUND SCHEME B3 ..............DIVIDEND ...........SHIP ........00 17..............00 100 ACC Limited ...........849.DIVIDEND ......926...........CASH PLAN .000 10 10 10 10 10 10 1............SUPER IP .......................858....DIVIDEND ....527 14.....00 20.. RELIANCE MONTHLY INTERVAL FUND SERIES 2 ...280 24.....................710..3 ....532 26....000............III ...340......775....00 33.956 87..DIVIDEND ..........................002..(contd...........................................00 4.724..DIVIDEND ..........00 25....000......399.......... Face Value ` 100 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 1.INST .999............DIVIDEND ...DIVIDEND ... RELIANCE INTERVAL SERIES ............. TATA FIXED INCOME PORTFOLIO FUND SCHEME B3 .......169.. TATA FIXED INCOME PORTFOLIO A2 ........489 14..616....00 88........00 28.....714.......

...............21 8. Packing Material and Fuels {Refer Note ......................................79 178.....................................................................................................................33 14........15 66.....13B(c)} TOTAL ...........50 462..........48 103............ 75th Annual Report 2010 101 ........................................14 0..20(a)} .. 5. (ii) Dues from Company under same mangement Ambuja Cements Limited .................... Finished Goods ....08 1..............08 778............49 SUNDRY DEBTORS (UNSECURED) (a) Over Six Months (i) Sale of Products and Services Considered Good .................................................... Work-in-Progress ................ (ii) Railway..........................51 47................................ (iii) *Dues from Central / State Governments ........ Insurance and Other Claims* Considered Good .................... Included in Sundry Debtors are : (i) Dues from Subsidiary Companies ..............70 35.................... 3............ Insurance and Other Claims* ..........................29 203......................(Considered Good) (i) Sale of Products and Services .....89 52.........................66 0....... Considered Doubtful ....66 ` Crore 2009 0..86 201.............70 3...................................................................76 0....................98 SUNDRY DEBTORS SCH EDULE SCH EDULE .............02 131....43 914............ TOTAL .... SUN DRY DEBTORS 2010 SUNDRY DEBTORS (SECURED AND CONSIDERED GOOD) (a) Over Six Months .............................................49 1..........07 5..... 101................................................................... INVENTORI ES (At cost or net realisable value whichever is lower) 2010 Raw Materials ..........................................27 102...............25 55.....96 88.................36 52....................26 61.....................................................40 35.....19 112.................32 113....................................................................................................27 77.....97 99..........................9...... 138.........28 4...............28 14..01 35...................... {Refer Note .............................04 51..................................89 168.........................................................Schedules forming part of the Balance Sheet SCH EDULE INVENTORI NVENTOR SCH EDULE .................................... (ii) Railway.........05 429....................................................................73 Less: Provision made for Bad and Doubtful Debts ............................49 61..................02 168...............................8.................................................41 (b) Others .............................. Considered Doubtful ...................................98 ` Crore 2009 92...............03 (b) Others ........................................56 60.....................52 48...................... 61........ Stores & Spare Parts.................76 116.......................................

.......... 8............ Considered Good.......08 5...........................03 69.......30 234...23 58....14 56.....34 Crore (Previous Year ................. CASH AND BANK BALANCES 2010 Cash on Hand .............................. {Maximum balance during the year ` 0. {Including Cheques on hand ` 7..........Provision made for Doubtful Advances ......... Advances Recoverable in cash or in kind or for value to be received* . etc....91 2................ Other Accrued Interest ..........................................22 139...........................................99 SCHEDULE LO AND ADVANCES SCH EDULE ...............................07 27...35 124..........08 3...........................11................ Fixed Assets held for sale ..01 746..... Sales Tax....................01 234....07 45..............01 Crore (Previous Year ...........................................12 0.. Considered Doubtful .............94 0.................78 3......56 38................93 985...................68 69....................................................... LOANS AND ADVANCES (Unsecured.................................12 ` Crore 2009 3..............38 650..................... Government Bodies and Others Considered Good .......................................88 209............ Loans and advances to Subsidiary Companies . Post Office Savings Accounts ..........................69 ` Crore 2009 2....................... 59.....................11 0........ Maximum balance during the year ...Standalone Financial Statements Schedules forming part of the Balance Sheet SCHEDULE CA AND BAN BALANC ANK ALANCES SCH EDULE .................................................................... In Fixed Deposits ............. OTH ER CUR R ENT ASSETS 2010 Accrued Interest on Investments .......... unless otherwise stated) 2010 Balances with Excise.......................... *Includes due from Officers ..............78 105...90 523.............88 170........................................17) TOTAL .........................87 516............01 Crore)} TOTAL ................ In Unclaimed Dividend Accounts .......74 24...... TOTAL .......` 0...............................080....25 ` Crore 2009 136....................................12...............................87 2....... (Refer Note ...............................02 0........ Customs and Port Trust Authorities on Current Accounts Sundry Advances and Deposits.............04 10............................ 8....................................................30 238..........................................................................45 102 ACC Limited .68 38..........................................10... Less ........................................................38 SCHEDULE OT CUR ASSET SSETS SCH EDULE ........................................` Nil)} Balance with Scheduled Banks In Current Account ............................................01 1........................................................................................................33 0...................................................................................................21 170..22 0............ Advances and Deposits with Railways.............

.....98 1.........02 0.........................46 754................................................093................ (Refer note ................................... 122..............................79 1....068.33 2.......................................................71 ` Crore 2009 137....................... (Refer Note ................................ Investor Education and Protection Fund* Unclaimed Dividend ......................36 384............................... TOTAL ..................................... TOTAL .............................................12 128....................................63 1.............14.................150..48 1...................46 24..10) Provision for Mines Restoration ...................00 75th Annual Report 2010 103 .......... Proposed Dividend ................459......................................................69 27.......06 41.......................................................... Unclaimed Matured Deposits ........12) Provision for Income Tax (net of payment) ...................................... Deposits from Dealers and Others ...................................... Others ............88 63................62 9....................................13..652..............................18 24..........33 0..................................................13 27......................408.....................Schedules forming part of the Balance Sheet SCH EDULE CUR LIABI LITI SCH EDULE .............. (Refer note ...68 ` Crore 2009 99................ 7............... Dividend Distribution Tax ......................... CUR R ENT LIABI LITI ES 2010 Sundry Creditors Payable to Subsidiaries ....................20 7.15) Advance from customers ...................................963.............................................................. 1.25 393................43 1.....91 Interest on Secured Loans accrued but not due ...... 2010 SCH EDULE PRO SCH EDULE .....69 12.....................................................................................92 1.....96 * No amounts due and outstanding to be credited to Investor Education and Protection Fund as at December 31...........................................................................................................79 244.................51 460.......................................75 1.......... PROVISIONS 2010 Provision for Employee Benefits ................................................

.............00 31.....................30 268........65 14................93 21..................................................27 163.......................69 93...72 1..........................19 421...............................20 18.....27 18.................28 Crore)} .. Insurance ...................................................37 Crore (Previous Year .....14 323...............................................Other than trade ...Trade ....43 50...........67 12.................................75 97..32 186....................59 115........................... Miscellaneous expenses {Includes Loss on sale / write off of Fixed Assets (Net) ............539........................................................ Contributions / Provisions to and for Provident and Other Funds .............20 11....................................................... Commission on Sales ...........................64 787..................72 240.....................` 38.................................................. Interest on Bank deposits {TDS ` 3.................. TOTAL ........................................52 ` Crore 2009 SCH EDULE MAN ANU CTU AND OT EXPENSES SCH EDULE ....................... Dearness Allowance and Bonus ...........................51 742.. OTH ER INCOME 2010 Opera Income Other Operating Income Provision no longer required written back .....................21 88.....48 375...............................48 356. Discount.. Dividend from Long Term Investments ...................... 102..............................................88 258...............233....................... Wages......................................51 10....................15...................14 117..........19 116.............................` 1...................................................................` 85.......... Repairs to Other Items .64 354..54 58.23 98...........................` 0.` 2............................45 17...... Sale of Surplus generated Power ...............................42 ` Crore 2010 PUR HASE ADING CEMENT PUR C HASE OF T RADING CEMENT ............90 1..............` 9....................................... Other interest income {TDS ` 0..............................44 367................................37 Crore)} PERSON SONN EXPENSES PERSONN EL EXPENSES Salaries................................89 83........... Loading.........................14 101...................................99 3.................................................45 43....12 37.............. ADMI IST MIN SELLING AND OT EXPENSES ADMIN ISTRATIVE......99 45............................................................. Rebates and Allowances ..........................62 98...................................................................................58 76...............................707............. Workmen and Staff Welfare Expenses ..............................71 19. {Includes excise duty on captive consumption of Clinker ` 108..................................................123.......10 3............. Repairs to Building ...........55 Crore)} .....598.............................27 Crore)} .......... Royalties ............... SELLI NG AND OTH ER EXPENSES Rent .....20(a)} .................... Rates and Taxes {includes Wealth Tax ` 0..64 54....64 Crore (Previous Year ...........12 317.. Total carried over ......................................... MANU FACTU R I NG AND OTH ER EXPENSES 3..................55 1.................26 Crore (Previous Year ............30 33...........................................................................49 23........................... Transportation and Other Charges .................................39 84.......................` 3...........................` 2............................................70 0....02 34...83 Crore)} ......................Standalone Financial Statements Schedules forming part of the Profit and Loss account SCHEDULE OT INC NCO SCH EDULE ................................65 40...........03 3.................... 1................ Stores and Spare parts Consumed ...........................71 Crore (Previous Year ............................00 104 ACC Limited ....................................... Miscellaneous Income ... Packing Materials Consumed .... {Includes Gain on Exchange (Net) ............................. Dividend from current Investments ..................50 31...16 891....... Power and Fuel ..................................................................66 Crore)} Income Other Income Profit on Sale of Investments ...................23 23....03 238...............................................................88 318.............77 Crore (Previous Year ..89 19...........75 461.........................12 Crore (Previous Year .58 109.... ANU CTU EXPENSES MANU FACTU R I NG EXPENSES Raw Materials Consumed ..................................60 169....... Repairs to Machinery {Refer Note ............................ Excise Duties (including Education Cess) .................................16.....79 1...............................63 2009 93...........

.............................60 56.......................96 257... Provision for Bad and Doubtful Debts {Refer Note ............16.............................................00 31.................. Work-in-Progress ............................33 Crore)} Others ..........30 75th Annual Report 2010 105 ....................62 88............................................................99 15...........58 48..........99 5....................................................................................................08 168...............................97 17..........................42 93......................... TOTAL ........................85 1..........26 53..........................................84 112.....070......................... MANU FACTU R I NG AND OTH ER EXPENSES (contd........................................................... Advertisement ......79 68....................................16 1................ Less .......................................................) 2010 Total brought over ..................52 15.35 78...........................932..................` 20..................38 84............. I NTEREST EXPENSES 2010 Debentures ............. Term Loans ...........................................................................................163............... Opening Stock Finished Goods .........41 1....................... 47............67 Crore (Previous Year .......44 228..................04 787...................14 110. Interest on Income Tax ..........68 26..............................93 ` Crore 2009 742....19 313...............................43 201.................04 (56......................... Outward Freight Charges on Cement etc ................. SCH EDULE NTEREST EXPENSES ERES SCH EDULE ..............................58) 6... (INC NCR DECR IN FIN ISHED GOODS AND ORK-IN-PR GRESS N-PRO (INCR EASE) / DECR EASE IN FIN ISHED GOODS AND WORK-IN-PRO GRESS Closing Stock Finished Goods ..... {Net of interest on refund ` 44................................................................................054.........74) 5......................... Work-in-Progress .....78 ` Crore 2009 28....................95 1......................880............86 149..30 1..................................38 36........49 28............................................... 88.......................546..............................Schedules forming part of the Profit and Loss account SCH EDULE MAN ANU CTU AND OT EXPENSES SCH EDULE ..............................................13B(c)} .............30 (28..................................................17.....................08 168.......Adjustments for Interest Capitalised .....96 257.......83 TOTAL .........

The financial statements have been prepared to comply in all material respects with the Accounting Standards notified by Companies (Accounting Standards) Rules. Machinery spares which can be used only in connection with a particular item of Fixed Assets and the use of which is irregular. Advances paid towards the acquisition of fixed assets outstanding at each Balance Sheet date and the cost of fixed assets not ready for their intended use before such date are disclosed under Capital Work-in-Progress. 2006 (as amended) and the relevant provisions of the Companies Act.Standalone Financial Statements Schedules forming part of the Balance Sheet.18. which is based on the estimated tonnes of raw materials to be extracted from the reserves. Although these estimates are based upon management’s best knowledge of current events and actions. ignificant accoun ounting S ignificant accounting policies (i) ixed Fixed Assets a) b) c) Fixed assets are stated at cost of acquisition or construction less accumulated depreciation / amortisation and impairment losses if any. The Financial statements have been prepared under the historical cost convention on an accrual basis. All other borrowing costs are charged to revenue. Costs incurred to gain access to mineral reserves are capitalised and depreciated over the life of the quarry. Fixed assets held for disposal are stated at the lower of net book value and net realisable value. except where impairment is made. Capital assets whose ownership does not vest in the Company have been depreciated over the period of five years. Depreciation is calculated on a pro-rata basis from the date of installation till the date the assets are sold or disposed off. Cost of leasehold land is amortised over the period of the lease. 106 ACC Limited . 1956 or based on the useful lives of the assets as estimated by Management. Previously recognized impairment loss is further provided or reversed depending on changes in circumstances. An impairment loss is recognized wherever the carrying amount of an asset exceeds its estimated recoverable amount. Depreciation on fixed assets is provided using the straight-line method at the rates prescribed in schedule XIV to the Companies Act. d) (ii) a) Deprecia eciation Amortisa tisation Depreciation and Amortisation b) c) d) (iii) Impairment Impairment The carrying amounts of assets are reviewed at each Balance Sheet date if there is any indication of impairment based on internal / external factors. actual results could differ from these estimates. Profit and Loss Account and Cash Flow Statement SCH EDULE NOT ACCOUNT NTS SCH EDULE . 1956. In respect of quarry freehold land. prepar epara Basis of preparation (i) (ii) (iii) 2. The recoverable amount is the greater of the asset’s net selling price and value in use. The Accounting policies have been consistently applied by the Company and are consistent with those used in the previous year. In assessing the value in use. estimates Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period. amortisation reserve is created by amortising the cost over the number of years of the mining rights of the quarries. are capitalized at cost net of Cenvat and are depreciated over the remaining useful life of the related asset. Borrowing costs consist of interest and other cost that an entity incurs in connection with borrowing of funds. (iv) Intangible Intangible Assets a) b) Computer Software cost is amortised over a period of three years using straight-line method. (v) Borrowing Costs Borrowing Costs Borrowing costs relating to acquisition of fixed assets which takes substantial period of time to get ready for its intended use are included to the extent they relate to the period till such assets are ready to be put to use. the estimated future cash flows are discounted to the present value at the weighted average cost of capital. whichever is higher. The written down value of such spares is charged to the Profit and Loss Account. on issue for consumption. 3. NOTES TO ACCOU NTS 1.

Revenue from services is recognised pro-rata over the period of the contract as and when services are rendered.(vi) xpenditure construc onstruction Expenditure during construction period In case of new projects and substantial expansion of existing factories. (xi) Accoun ounting Accounting of Claims a) b) (xii) Claims receivable are accounted at the time when such income has been earned by the Company depending on the certainty of receipts. Long term investments are stated at cost. However. prior to commencement of commercial production are capitalised. Cost of finished goods includes excise duty. Cost is determined on a weighted average basis. defective and unserviceable inventories are duly provided for. Dividend income is recognised when the shareholders’ right to receive dividend is established by the Balance Sheet date. b) Work-in-progress and Finished goods Lower of cost and net realizable value. Provision for diminution in the value of long term investments is made only if such a decline is other than temporary. 75th Annual Report 2010 107 . Obsolete. Produc oducts Services Sale of Products and Services a) Revenue is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer. Claims payable are accounted at the time of acceptance. which are disputed by the Company. (viii) Inventories Inventories Inventories are valued as follows: a) Raw Materials. in hand (including cheques in hand) and short term investment with an original maturity of three months or less. Packing Material and Fuels Lower of cost and net realizable value. (vii) Investments Investments Current investments are carried at the lower of cost or fair value. less estimated costs of completion and estimated costs necessary to make the sale. Sales include the amount of Sales Tax / VAT refunds received / due in accordance with incentive schemes. are accounted based on the merits of each claim. Excise duties deducted from turnover (gross) are the amounts that are included in the amount of turnover (gross) and not the entire amount of liability that arose during the year. Excise duties in respect of finished goods are shown separately as an item of Manufacturing Expenses and included in the valuation of finished goods. expenditure incurred including trial production expenses net of revenue earned. Investment subsidy not specifically related to a fixed asset is credited to Capital Reserve and retained till the requisite conditions are fulfilled. Cost is determined on a weighted average basis. Stores & Spare Parts. b) Inter terest Income Interest and Dividend Income Interest income is recognised on a time proportion basis taking into account the amount outstanding and the rate applicable. (x) rec ecognition Revenue recognition Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Government Gran ant Government Grant and Subsidies a) b) c) Subsidy receivable against an expense is deducted from such expense and subsidy / grant receivable against a specific fixed asset is deducted from cost of the relevant fixed asset. materials and other items held for use in the production of inventories are not written down below cost if the finished products in which they will be incorporated are expected to be sold at or above cost. Cost includes direct materials and labour and a proportion of manufacturing overheads based on normal operating capacity. Claims raised by Government Authorities regarding taxes and duties. Net realizable value is the estimated selling price in the ordinary course of business. (ix) Cash equivalen alents Cash and Cash equivalents Cash and cash equivalents for the purpose of Cash Flow Statement comprise cash at bank.

108 ACC Limited . provident fund. Derivative Instruments Derivative Instruments As per Accounting Standard (AS) 11 – ‘The Effects of Changes in Foreign Exchange Rates’ the premium or the discount on forward exchange contracts not relating to firm commitments or highly probable forecast transactions and not intended for trading or speculation purpose is amortized as expense or income over the life of the contract. are recognised as income or expenses in the year in which they arise. 1956. Exchange differences arising on the settlement of monetary items or on reporting Company’s monetary items at rates different from those at which they were initially recorded during the year. Non-monetary items which are carried in terms of historical cost denominated in a foreign currency are reported using the exchange rate at the date of the transaction. or reported in previous financial statements. Expenditure on development phase which results in creation of assets is included in fixed assets. Payments made under the Voluntary Retirement Scheme are charged to the Profit and Loss Account immediately. Foreign currency monetary items are subsequently reported using the closing rate. Actuarial gains / losses are recognized immediately in the Profit and Loss Account. other than those covered under AS – 11. silver jubilee and long service awards are determined on the basis of an actuarial valuation using the projected unit credit method as at Balance Sheet date. As per the ICAI Announcement. Operating lease payments are recognized as an expense in the Profit and Loss Account on a straight-line basis over the lease term. post retirement medical benefit schemes. Employ (xviii) Employees Stock Option Scheme The intrinsic value of option granted under Employees Stock Option Schemes is written off over the vesting period. (xv) esearch development Research and development Expenditure on research phase is recognised as an expense when it is incurred. medical benefits under voluntary retirement scheme and other long term benefits in the form of leave encashment. Net gains are ignored. 1961 enacted in India. and the net loss after considering the offsetting effect on the underlying hedge item is charged to the income statement. (xvi) oreign currency transac ansactions Foreign currency transac tions Foreign currency transactions are initially recorded at the rates of exchange prevailing on the date of transactions. are classified as operating leases. additional gratuity. (xix) Income taxes Income taxes Tax expense comprises of current and deferred tax. as they are incurred. accounting for derivative contracts. c) d) Short term compensated absences are provided based on past experience of leave availed.Standalone Financial Statements (xiii) (xiv) Debenture / Share issue expenses and premium payable on Debentures are adjusted in the year of incurrence against the Securities Premium Account as permitted by Section 78(2) of the Companies Act. are marked to market on a portfolio basis. There are no other obligations other than the contribution payable to the respective trusts. The financial statements of an integral foreign operation are translated as if the transactions of the foreign operation have been those of the Company itself. Current income tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. Employ (xvii) Employee benefits a) Defined Contribution Plan Contribution to Officer’s Superannuation Fund. ESIC and Labour Welfare Fund are recognised as an expense in the Profit and Loss Account. Opera Lease Operating Lease Where the Company is the lessee Leases where the lessor effectively retains substantially all the risks and benefits of ownership of the leased item. b) Defined Benefit Plan and Other Long Term Benefits Retirement benefits in the form of gratuity.

Actual payments for restoration are charged directly against the provision. A contingent liability is disclosed. unless the possibility of an outflow of resources embodying the economic benefit is remote. The Company caters mainly to the needs of the domestic market. 5. 2010 Joint Venture of ACC Mineral Resources Limited Joint Venture of ACC Mineral Resources Limited Joint Venture of ACC Mineral Resources Limited Joint Venture of ACC Mineral Resources Limited 75th Annual Report 2010 109 . in respect of which a reliable estimate can be made.f. January 28. The initial recognition of the provision for mines restoration cost comprises of the estimated costs for restoration caused by operations necessary before the raw materials can be exploited. Deferred tax assets are recognised only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. (xxi) share Earnings per share Basic earnings per share are calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year. elated arties isclosures R elated Parties D isclosures (A) Rela elated parties where control exists: ontr Names of the Related parties where control exists: (i) Bulk Cement Corporation (India) Limited (ii) ACC Mineral Resources Limited (Formerly The Cement Marketing Company of (India) Limited) (iii) Lucky Minmat Limited (iv) ACC Concrete Limited (v) National Limestone Company Private Limited (vi) Encore Cement and Additives Private Limited (vii) MP AMRL (Semaria) Coal Company Limited (viii) MP AMRL (Bicharpur) Coal Company Limited (ix) MP AMRL (Marki Barka) Coal Company Limited (x) MP AMRL (Morga) Coal Company Limited Natur ture Rela elationship Nature of Relationship Subsidiary Company Subsidiary Company Subsidiary Company Subsidiary Company Subsidiary Company w. For the purpose of calculating diluted earnings per share. (xx) ontingencies Pro Contingencies / Provisions A provision is recognised when an enterprise has a present obligation as a result of past event. 4.f. The Company has only one Geographical Segment. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. April 20. 2006 (as amended). Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the Balance Sheet date. The Company writes-down the carrying amount of a deferred tax asset to the extent that it is no longer reasonably certain that sufficient future taxable income will be available against which deferred tax asset can be realised. Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligation at the Balance Sheet date. The carrying amount of deferred tax assets are reviewed at each Balance Sheet date. Segment Repor eporting Segment Reporting The Company has only one business segment ‘Cement’ as its primary segment and hence disclosure of segment-wise information is not required under Accounting Standard 17 . The present obligation is revised annually based on technical estimates by internal or external specialists. 2009 Subsidiary Company w. Any such write-down is reversed to the extent that it becomes reasonably certain that sufficient future taxable income will be available. The export turnover is not significant in the context of total turnover.Deferred income taxes reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years.‘Segment Reporting’ notified pursuant to the Companies (Accounting Standards) Rules. Restor estora Expenditur xpenditure (xxii) Mines Restoration Expenditure The Company provides for the estimated expenditure required to restore quarries and mines. it is probable that an outflow of resources embodying economic benefit will be required to settle the obligation.e.e. the net profit or loss for the year attributable to equity shareholders and the weighted average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares.

80 27.52 0.71 14.56 0.59 4.58 0.14 17.10) Natur ture Rela elationship Nature of Relationship CEO & Managing Director Managing Director ` Crore 2010 (i) urchase Finished Raw Materials Purchase of Finished / Unfinished Goods / Raw Materials Lucky Minmat Limited Encore Cement and Additives Private Limited Others (ii) Finished Sale of Finished / Unfinished Goods ACC Concrete Limited Others (iii) eimbursement Expenses Cost Materials Stores Paid Pa Reimbursement of Expenses / Cost of Materials / Stores Paid / Payable Bulk Cement Corporation (India) Limited Lucky Minmat Limited Others (iv) eimbursement Expenses Cost Materials Stores Receiv eceived Receiv eceivable Reimbursement of Expenses / Cost of Materials / Stores Received / Receivable ACC Concrete Limited ACC Mineral Resources Limited Lucky Minmat Limited Encore Cement and Additives Private Limited Others 29.07 0.10) Mr. Sumit Banerjee (up to 13.05 2.94 1.32 75.66 3.e. 05.Standalone Financial Statements (B) Others: Rela elated parties (a) Names of other Related parties (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) (xi) (xii) (xiii) (xiv) (xv) (xvi) (xvii) (xviii) (xix) Alcon Cement Company Private Limited Asian Concretes and Cements Private Limited Ambuja Cement India Private Limited Ambuja Cements Limited Holderind Investments Limited Holcim (India) Private Limited Holcim Services (Asia) Limited Holcim Group Support Limited Holcim (Singapore) Pte Limited Holcim Trading FZCO Holcim (Lanka) Limited P T Holcim Indonesia Tbk Holcim Services (South Asia) Limited Siam City Cement Public Company Limited Holcim (Bangladesh) Limited Holcim (Canada) INC Holcim (Vietnam) Limited Holcim Environment Services SA Holcim Foundation Natur ture Rela elationship Nature of Relationship Associate Company Associate Company w.32 0.44 0.18 4.96 79.48 14.f.03 ansactions Subsidiary Companies (C) Transactions with Subsidiary Companies 110 ACC Limited .09 0.83 9.56 0.f.e.07 1.16 2009 1.01 72. April 01.93 0.08.35 1. Kaura (w.71 72.52 2. 2010 Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Entity Management Personnel: (b) Key Management Personnel: Rela elated Par arty Name of the Related Party (i) (ii) Mr. Kuldip K.36 1.29 0.08.05 0.

14 4.77 28.87 1.63 1.36 0.30 0.36 0.26 1.02 0.13 78.05) 11.00 0.87 0.65 16.01 0.24 100.13 68.13 23.28 21.12 27.65 23.13 103.00 0.06 0.32 13.75 0.12 27.90 16.66 0.78 11.79 14.00 0.03 0.00 3.02 11.00 124.78 58.75 13.00 3.63 - 75th Annual Report 2010 111 .67 0.06 78.00 100.00 68.05 2009 0.13 4.06 0.75 1.72 (0.77 73.77 0.12 1.ansactions Subsidiary Companies (C) Transactions with Subsidiary Companies (Contd.70 0.28 11.13 124.82 3.) ` Crore 2010 (v) Services Rendering of Services Bulk Cement Corporation (India) Limited ACC Concrete Limited* (vi) Services Receiving of Services Bulk Cement Corporation (India) Limited Others (vii) (viii) Guaran antee given year subsidiary compan ompany Guarantee given during the year on behalf of subsidiary company Encore Cement and Additives Private Limited Inter terest Inter Corpor orpora Advances Receiv eceived Interest on Inter Corporate Deposits / Other Advances Received ACC Concrete Limited* Encore Cement and Additives Private Limited (ix) Investment Subsidiary Shares Capital Investment in Subsidiary in Equity Shares Capital ACC Mineral Resources Limited National Limestone Company Private Limited Encore Cement and Additives Private Limited (x) (xi) (xii) Investment Subsidiary Preference Shares Capital efer Investment in Subsidiary in Preference Shares Capital ACC Concrete Limited Purchase of Fixed Assets urchase Fix ixed ACC Concrete Limited Inter Corpor orpora Advances Given Inter Corporate Deposits / Other Advances Given ACC Concrete Limited ACC Mineral Resources Limited Encore Cement and Additives Private Limited (xiii) Inter Corpor orpora Liquidated Inter Corporate Deposits Liquidated ACC Concrete Limited ACC Mineral Resources Limited (xiv) Inter Corpor orpora Advances at year Inter Corporate Deposits / other Advances as at the end of the year ACC Concrete Limited ACC Mineral Resources Limited Encore Cement and Additives Private Limited (xv) Curren ent Outstanding balance included in Current Assets ACC Concrete Limited ACC Mineral Resources Limited Lucky Minmat Limited Others (xvi) Curren ent Outstanding balance included in Current Liabilities Bulk Cement Corporation (India) Limited Others 0.00 0.

74 1.04 3.40 26.67 16.79 0.00 112 ACC Limited .Standalone Financial Statements (D) ansactions Associate Companies (D) Transactions with Associate Companies ` Crore 2010 (i) (ii) urchase Finished Purchase of Finished Goods Alcon Cement Company Private Limited Finished Sale of Finished / Unfinished Goods Alcon Cement Company Private Limited Others (iii) (iv) (v) (vi) (vii) (viii) Investment Associates Shares es) Investment in Associates (Acquisition of Equity Shares) Asian Concretes and Cements Private Limited Receiv eceived Dividend Received Alcon Cement Company Private Limited eimbursement Expenses Cost Materials Stores Paid Pa Reimbursement of Expenses / Cost of Materials / Stores Paid / Payable Alcon Cement Company Private Limited Reimbursement of Expenses / Cost of Materials / Stores Received / Receivable eimbursement Expenses Cost Materials Stores Receiv eceived Receiv eceivable Alcon Cement Company Private Limited Services Rendering of Services Alcon Cement Company Private Limited Services Receiving of Services Alcon Cement Company Private Limited Asian Concretes and Cements Private Limited (ix) (x) Curren ent Outstanding balance included in Current Assets Alcon Cement Company Private Limited Curren ent Outstanding balance included in Current Liabilities Alcon Cement Company Private Limited Asian Concretes and Cements Private Limited ansactions rela elating Promoters Group Companies (E) Details of Transactions relating to Promoters Group Companies 2010 (i) Dividend paid Ambuja Cement India Private Limited Holderind Investments Limited (ii) (iii) (iv) (v) urchase Coal Purchase of Gypsum and Coal Holcim Trading FZCO urchase Purchase of Unfinished Goods Ambuja Cements Limited urchase Stores Spares Purchase of Stores & Spares Ambuja Cements Limited Finished Sale of Finished / Unfinished Goods Ambuja Cements Limited Others 199.30 9.34 ` Crore 2009 173.60 0.02 1.04 4.35 0.61 5.24 75.23 22.62 5.34 7.74 23.34 3.16 36.96 3.62 0.61 1.58 7.40 1.80 22.38 2009 67.43 5.81 36.37 5.46 172.24 1.85 67.64 0.81 1.68 5.86 4.28 10.23 60.30 75.85 26.43 1.38 1.60 24.37 1.08 83.23 1.86 0.23 17.34 60.02 0.48 198.28 5.35 0.01 7.79 9.55 83.55 0.35 1.01 0.

71 6.33 1.67 0.08.69 1.30 3.25 0.76 21.05 13.) Holcim Group Support Limited Holcim Services (South Asia) Limited Others (xii) Curren ent Outstanding Balance included in Current Assets Holcim Services (South Asia) Limited Ambuja Cements Limited Holcim (Bangladesh) Limited Others (xiii) Curren ent Outstanding Balance included in Current Liabilities Holcim Group Support Limited Holcim Trading FZCO Others ansactions Ke Management Personnel (F) Details of Transactions with Key Management Personnel ` Crore 2010 emunera Remunera tion (i) (ii) Mr.16 0.09 2.63 1.01 20.84 0.46 0.03 1.86 1. 2009 the Company has decided to waive the rent charged to ACC Concrete Limited for occupation of office premises and also not to charge interest on Inter-Corporate Deposits given.11 0.06 0.38 4.22 45.69 0.74 0.70 0.67 5.37 0.10) 3.22 24.e.40 2.34 2009 0.14 0.16 2.28 4.40 3. Kuldip K.96 2.34 11. 05.08.90 0.) ` Crore 2010 (vi) (vii) Stores Spares Sale of Stores & Spares Ambuja Cements Limited Raw material Sale of Raw material & other items Holcim (Bangladesh) Limited Holcim Environment Services SA (viii) Services Rendering of Services Ambuja Cements Limited (ix) eimbursement Expenses Paid Pa Reimbursement of Expenses Paid / Payable Ambuja Cements Limited Holcim Trading FZCO Holcim (Bangladesh) Limited (x) eimbursement Expenses Receiv eceived Receiv eceivable Reimbursement of Expenses Received / Receivable Ambuja Cements Limited Others (xi) Services (T Consultancy etc.07 0.21 0.f January 01. Kaura (w.07 3.e. Sumit Banerjee (up to 13.33 * w.88 0.83 2009 2.08 5.05 6.10) Mr.f.12 0.49 3.) Receiving of Services (Training / Technical Consultancy etc.28 0.32 3.56 0. 75th Annual Report 2010 113 .ansactions rela elating Promoters Group Companies (E) Details of Transactions relating to Promoters Group Companies (Contd.38 0.02 0.65 0.26 33.

01 3.77.50 2.461.68 0.01 2009 1.606.011 18.727 4.45 392.174 4.887.11.93 0.96 31. 1956 ` Crore 2010 Profit before tax as per Profit and Loss Account Add Depreciation and amortisation as per Profit and Loss Account Provision for Wealth Tax Tax on Yanbu operations Assets written off as per Profit and Loss Account Remuneration to Directors Provision for Doubtful Debts and Advances (net of adjustments) Compensation under Voluntary Retirement Scheme 1.26 2009 2.27 2.79 114 ACC Limited .39 342.50) 1.20 2.Standalone Financial Statements 6.00 1.24 5.294.23 1.73 5.00 85.276 ` 10.42 1.60 85.52 18.44.76.08.549 18.88 1.693.23 (31.40 0. Director’s Remuner ector’ emunera Director’s Remuneration ` Crore 2010 Managing Director Salaries and Performance Bonus Perquisites Contributions to Provident and Superannuation Funds 2.27 0.96 1.16.185 10.81.29 3.08 54.30 0.40 2009 Provision for contribution to gratuity fund.22 3.120.69 Non–Executive Directors – Commission Sitting Fees 1.61.71 2.66 ` 59.09 1.31 6.[EPS] ` Crore 2010 (I) (II) Net Profit as per Profit and Loss Account Weighted average number of equity shares for Earnings per Share computation Shares for Basic Earnings per Share Add: Potential equity shares on account of ESOS Number of Shares for Diluted Earnings per Share (III) Earnings per Share Face value per Share Basic Diluted 18.73 7.81.97. leave encashment on retirement and other defined benefits which are made based on actuarial valuation on an overall Company basis are not included above.26 12. Computation of Net Profit under Section 349 of the Companies Act. Share [EPS] Earnings per Share .34 0.00 ` 59.

Profit as per Section 349 of the Companies Act. g) 75th Annual Report 2010 115 .81 Crore.12 6. Director’s Remuner ector’ emunera Director’s Remuneration (Contd.78 Crore.423. During the previous year the Company subscribed to 4. During the previous year the Ministry of Coal allocated a coal block in the state of West Bengal to a consortium in which the Company is a member.30 2009 342.49 71.17 3.52 2009 matters In other matters .35 Crore. 1956 @ 1% Commission actually approved for payment 392.342.68 54. Acquisitions / Subscriptions a) b) c) d) e) f) During the year the Company has acquired 100% stake in Encore Cement and Additives Private Limited for a total consideration of ` 11.24 Crore. During the previous year ACC Mineral Resources Ltd.23 1.34 8.33 0. During the year the Company has been allotted 47.01 3.10 0.90 Crore in its wholly owned subsidiary ACC Mineral Resources Limited. 1956 Profit on Sale of Investments Assets written off under Section 350 of the Companies Act.73 16.10 0.40 – 0.7.46 351.36 463. 1956 @ 5% Remuneration actually approved for payment Maximum commission to Non-Executive Directors under Section 198 of the Companies Act. 1956 Profit on Sale of Assets (Net) Profit Section Companies Act.11 2. yment Statutor Auditors tutory expenses P ayment to Statutory Auditors included in Miscellaneous expenses of schedule 16 (excluding service tax): ` Crore 2010 As auditors (i) (ii) (iii) Audit fees Audit fees for tax financial statements Out of pocket expenses 2.68 2. During the previous year the Company has acquired 100% stake in National Limestone Company Pvt.77 1. a Company engaged in manufacturing of various grades of cement.000 1% Cumulative Redeemable Preference Share for a total consideration of ` 100 Crore in its wholly owned subsidiary ACC Concrete Limited. During the year the Company has acquired 45% stake in Asian Concretes and Cements Private Limited for a total consideration of ` 36. a wholly owned subsidiary of ACC Limited has entered into four Joint Venture agreements with Madhya Pradesh State Mining Corporation Limited for mining of Coal in the state of Madhya Pradesh and Chattisgarh. 1956 Maximum remuneration to Managing Director as per Section 198 and 309 of the Companies Act.90..11 117.01 2. During the previous year the Company subscribed to 100.40 23. for a total consideration of ` 0.42 1.) ` Crore 2010 LessDepreciation under Section 350 of the Companies Act. a Company engaged in mining of limestone. Limited for a total consideration of ` 16.507 shares in Moira Madhujore Coal Ltd.000. The Company plans to carry out mining activities through a joint venture Company.02 2.30 14.000 equity shares for a total consideration of ` 4.50 0.94 2.09 0.Certification 9. a Company engaged in manufacturing and supply of ground slag.

Standalone Financial Statements Employ 10.45 (13.23) (4. Employee Benefits: a) Defined Contribution Plans – Amount recognised and included in Schedule 16 “Contributions / Provisions to and for Provident and Other Funds” of Profit and Loss Account ` 7.13) 103.04 1.74) 101.54 (9.06 - (41.60) (41.61) 3.19) 14.83) (31.20 (19.87 6. ii.28 Crore (Previous Year ` 7.60 1.61 6.37) (5.72 95.39 (13.24 5.00 1.97) 17. b) Defined Benefit Plans – As per actuarial valuation on December 31.19) rec ecognised Net Asset / (Liability) recognised in the Balance Sheet at as at December 31. Benefits under Post Employment medical Benefit plans are payable for actual domiciliary treatment / hospitalization for employees and their specified relatives. 2010 The Company has a defined benefit gratuity and post employment medical benefit plans as given below: i.09) 21.83 2.06 (7. The scheme is funded with insurance companies in the form of a qualifying insurance policy.97 10.37) (0.74) (13.61 10.23 0.49 (2.60) 31.12 0.25 6. 2010 1 Present value of Defined Benefit Obligation at beginning of the year 2 3 4 Current Service cost Interest Cost Settlement / Curtailment (Gain) 116 ACC Limited .18) (0.18) III Obligation year Change in Obligation during the year ended December 31.15 1. ` Crore Gratuity Post Employment Medical Benefits(PEMB) Non Funded Funded I rec ecognised Statemen tement Profit Loss Expense recognised in the Statement of Profit & Loss year for the year ended December 31.94 Crore).18 0. Every employee who has completed minimum five years of service is entitled to gratuity at 15 days salary for each completed year of services. 2010 1 Present value of Defined Benefit Obligation 2 3 4 Fair value of plan assets Funded status {Surplus / (Deficit)} Net asset / (liability) (117.87) (6.41) (0.44) (5.87 6.60 1.60 39.28) (3.12 0.39) 1.28) (3.61 6.04 1.61) (2.83) (31.44) (5.49 (0.97 - (2.29 (5.23 0.25) (2.39) 0.25 6. 2010 1 2 3 4 5 6 7 8 II Current Service cost Interest Cost Employee Contributions Expected return on plan assets Net Actuarial (Gains) / Losses Past service cost Settlement / Curtailment (Gain) Total expense 5.83 2.16) (101.15 1.13 123.

66 (18.16 101. for first 5 years and thereafter 8% p. (P.46 0.75) (16.38) 2. Mortality for annuitants LIC (1996-98) ultimate 5% p.) 8% p.19) (4.39 8.68 100% percen centage point One percentage point increase increase in Medical Inflation ra Cror ore Inflation rate .41) (0.a.40) 117.96) (1.Y.23) (4.` Crore 0. 2010 VII VI I Actuarial Actuarial Assumptions: 1 2 3 4 5 6 Discount Rate Expected rate of return on plan assets Mortality pre-retirement Mortality post-retirement Employee turnover rate Medical premium inflation Indian assured lives Mortality (1994-96) (modified) ultimate.54 (9.01) 41.93 1.25% p.32 0. – 7.82) (0.25) (0.a.38) (13.Y.61 - Funded 5 6 7 8 9 IV Past service cost Employee Contributions Actuarial (Gains) / Losses Benefits Payments Present value of Defined Benefit Obligation at the end of the year 17.Gratuity ` Crore Post Employment Medical Benefits(PEMB) Non Funded 10.39 84.Y.06) (2.37) (0.33 7.) 12% p.71 103. – 8% p.87 6.06 at As at December 31.28 3. (P.) year Change in Assets during the year ended December 31.97 3. 2010 8% p. 2010 1 Plan assets at the beginning of the year 2 3 4 5 6 7 8 Settlements Expected return on plan assets Contributions by Employer Actual benefits paid Actuarial Gains / (Losses) Plan assets at the end of the year Actual return on plan assets V VI categories percen centage The major categories of plan assets as a percentage of total plan Qualifying Insurance Policy ect percen centage point Effect of One percentage point change in the Inflation ra assumed Medical Inflation rate centage point percen One percentage point decrease decrease in Medical Inflation ra Cror ore Inflation rate .28 0.a.a. (Figur igures pertain pre year) (Figures in italics pertain to previous year) 75th Annual Report 2010 117 .a.83 31.92) Increase / (Decrease) on aggregate service and interest cost of Post Employment Medical Benefits Increase / (Decrease) on Present value of Defined Benefit Obligation as at December 31.60 (0.72 95.` Crore (0.a. (P.28) (0.a.a.57 0.14 7.13 95.24) (0. – 5% p.

18) (10. such as supply and demand in the employment market.A.74) (0. seniority. needs to be treated as defined benefit plan.96) 2006 (31.83) (41.00) (39.60) (31. (0. Post employment defined benefit plan expenses are included under personnel expenses in Profit and Loss Account.07) (31.14 (39.A.44) (0.31) (117.61) N.01) N.12 (24. (6.71) (5.A.52 2007 (26.41) 74.e. 2.A. (0.83) N.39 (5.65 9.83) 6.29) 0.74) N.A. In regard to any future obligation arising due to interest shortfall (i. take account of inflation.24) 84. Government interest to be paid on provident fund scheme exceeds rate of interest earned on investment). The Fund does not have any existing deficit or Interest shortfall.84) (14. which requires interest shortfall to be met by the employer.14) 2007 (17.07) N.For Defined Benefit Scheme.96) 2008 (10.13) 95.31) 57.83) 2008 (39.10) (0.A.A.84) N.74) (26. (2.60) N. considered in actuarial valuation.40) (17. (6. During the previous year. Amounts for the current and previous four years are as follows: (i) Gratuity (Funded) ` Crore 2010 Defined benefit obligation Plan assets Surplus / (deficit) Experience adjustments on plan assets Experience adjustments on plan liabilities (ii) Gratuity (Non Funded) 2010 Defined benefit obligation Plan assets Surplus / (deficit) Experience adjustments on plan assets Experience adjustments on plan liabilities (iii) Post Employment Medical Benefits 2010 Defined benefit obligation Plan assets Surplus / (deficit) Experience adjustments on plan assets Experience adjustments on plan liabilities (2.18) N. (3. 3.A. 9.04 (41. Basis used to determine expected rate of return on assets: The expected return on plan assets is based on market expectation.28) (2. promotion and other relevant factors. pending the issuance of the Guidance Note from the Actuarial Society of India.74) 2008 (123.61) (3.40) N.18 Crore.30 (29.35 2007 (98.A.00) N.67 2009 (31. 4. the Company’s actuary has expressed his inability to reliably measure the same. The Gratuity Scheme is invested in Life Insurance Corporation (LIC) of India’s Group Gratuity-cum-Life Assurance cash accumulation policy and HDFC Standard Life’s Group Unit Linked Plan .A. 7. Employee Benefits (revised 2005) states that provident funds set up by employers.16) 103. The Company expects to contribute ` Nil to Gratuity fund in the year 2011.67 2006 (86. d) e) f) g) h) i) The estimates of future salary increases.33 2006 (14.20) 2009 (3.46) (10. pursuant to amendments in Post Employment Medical Benefits scheme the Company had recognised curtailment gain of ` 2.Standalone Financial Statements c) The Guidance issued by the Accounting Standard Board (ASB) on implementing AS-15.28) N.54) 2009 (101.72 (13. at the beginning of the period. for returns over the entire life of the related obligation.03 118 ACC Limited .A.

Flats.41 Crore (Previous Year – ` 46.98 Mines restoration expenditure is incurred on an ongoing basis and until the closure of the mine. (iv) At the expiry of the lease term. Car.50 52.98 3.52 - (ii) Later than one year and not later than five years (iii) Later than five years b) c) Operating lease payment recognised in Profit & Loss Account amounting to ` 39. Operating Lease a) Future Lease Rental payments ` Crore 2010 (i) Not later than one year 55.96 Crore) towards payment of additional Royalty on Limestone based on the ratio of 1. the Company has an option either to return the asset or extend the term by giving notice in writing. (ii) Future lease rentals are determined on the basis of agreed terms. There are no subleases. Indemnity. Excise Duties & Other Dues ` 59.21 Crore (Previous Year – ` 132. 13.64 Crore (Previous Year ` 32.85 Crore). 75th Annual Report 2010 119 .51 Crore (Previous Year – ` 0.6 tonnes of Limestone to 1 tonne of Cement produced at its factories in Madhya Pradesh and Chattisgarh and on cement produced vis a vis consumption of limestone at its factory in Tamil Nadu. Godowns.59 Crore) General description of the leasing arrangement: (i) Leased Assets: Grinding facility. The Company holds the view that the payment of royalty on limestone is correctly made based on the actual quantity of limestone extracted from the mining area. Cranes and Tippers. There are no restrictions imposed by lease arrangements.Opera Lease 11.96 Crore). Movement of provision during the year as required by Accounting Standard 29 : Mines Restoration Expenditure ` Crore 2010 Opening provision Add: Provision during the year Less: Utilisation during the year Closing provision 9.15 Crore). A) ontingen tingent Pro For Contingent Liabilities Not Provided For – a) b) c) Guarantee given on behalf of subsidiary companies to the extent of ` 0. (iii) There is no escalation clause in the lease agreement. The actual expenses may vary based on the nature of restoration and the estimate of restoration expenditure.72 (0.40 Crore (Previous Year – ` 138. In respect of item (c) future cash outflows in respect of contingent liabilities are determinable only on receipt of judgments pending at various forums / authorities.54 190.37 2009 19. Locomotives. Dumpers.98 3.72) 9.10 (0. Government Bodies and others ` 148. Computers and other related equipments. Movement pro year requir equired Accoun ounting Standard 12.56 179. Sales Tax. Guarantee/s given to Banks / Financial Institutions. d) The Company had filed petitions against the orders / notices of various authorities demanding ` 155.46) 12.62 2009 6.

the Sales tax authorities had introduced certain restrictive conditions after the commissioning of the unit.65 Crore) up to September 1999. the Company had received part disbursement and the balance of ` 46. management considered it prudent to create a provision against the amounts receivable. Therefore.44 Crore by charge to Profit and Loss Account and adjusted the Capital Reserve Account to the extent of the Capital Investment Subsidy. which the Company intends to pursue). which went into commercial production on September 15. 1994. 120 ACC Limited . which is also written back during the year. by rejecting the appeal of the Union of India against the orders of the High Court of Himachal Pradesh (single bench in Aug 2003 and Division Bench in April 2008) which had confirmed that Gagal II was a new unit and consequently eligible for Transport Subsidy. However. Small. during the year. Further. c) 14. 1971. The Company had also provided an amount of ` 7 Crore towards interest.05 Crore (Previous Year – ` 660. to whom the Company owes dues. as defined in the Micro. This information has been determined to the extent such parties have been identified on the basis of information available with the Company. management believes there is a material shift in the merits in favour of the Company in the Sales-Tax incentives case. This has been relied upon by the auditors.65 Crore (Previous Year – ` 80. the Company has written back ` 56 Crore which was provided as a measure of abundant caution in earlier years.18 Crore) towards payment of additional Royalty on Limestone based on the ratio of 1. Company contends that Gagal II being a new unit. Accordingly. In view of these demands being legally unjustifiable. Medium Enterprises Development Act. The Company has conducted studies to establish the quantity of Limestone consumed in the manufacture of Clinker at this plant and royalty payments towards Limestone are in accordance with such consumption ratios. stipulating that the incentive is admissible only for the incremental amount over the base revenue and production. b) The Company had availed Sales-tax incentives in respect of Gagal II under the HP State Industrial Policy. Pursuant to incentives available under a State Industrial Policy in respect of one of its cement plants. the Company had received a demand notice from the Government of Himachal Pradesh asking for refund of the subsidy already remitted.35 Crore was withheld on the ground that Gagal II is not a new unit but is an expansion of an existing unit. B) a) The Company was entitled to receive Transport Subsidy against actual expenditure on freight incurred for a period of five years in respect of its new 1 million MTPA plant at Gagal (Gagal II). During the year. the Company accrued the subsidy claim (including subsidy on clinker) aggregating ` 80. Small and Medium Enterprises.45 Crore). since the payments / reimbursements were not forthcoming. The Government has since accepted the verdict and has disbursed ` 45. the Supreme Court confirmed the eligibility of Gagal II to receive transport subsidy as claimed. the Company had preferred claims and till Dec 2008 accrued ` 15 Crore on account of Capital Investment Subsidy and ` 29. There are no Micro. No further accruals of the subsidy have been made for the subsequent period though the Company continues to lodge its claims with the authorities.4 tonnes of Limestone to 1 tonne of Clinker for one of its plant in the state of Karnataka. provided for an amount of ` 29. 2006. 15.19 Crore (leaving out an amount of ` 1. The Company accrued Sales-tax incentives aggregating ` 56 Crore (Previous Year – ` 56 Crore).15 Crore relating to transport subsidy on Clinker. and thereby not eligible for subsidy under Transport Subsidy Scheme. However. In this respect. Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) ` 259. The Company is in appeal before the Himachal Pradesh High Court against the decision of the HP Tax Tribunal on this matter.Standalone Financial Statements The Company has also received a demand resulting in a liability of ` 45. During the year.37 Crore (Previous Year– ` 40. 1991.44 Crore as Sales Tax / VAT subsidy receivable from the State Government. and in an earlier year. the Company’s writ before the Jharkhand High Court for recovery of the eligible amounts from the Government Authorities has been admitted. such restrictive conditions cannot be imposed on it as per the Industrial Policy. Consequent to the decision during the year of the Supreme Court in the Transport Subsidy case and acceptance by the Central Government in that case that Gagal II is a new unit. the Company does not expect any liability in these matters.

83 Crore @ Closing rate of 1 SAR = ` 12.There is no repayment schedule in respect of the above loans 18. would have been higher by ` 71. Total dividend together with the interim dividend paid earlier aggregates to ` 30. an amount of ` 71.00.12 Crore @ Closing rate of 1 CHF = ` 48.55) {Previous Year .43) {Previous Year . a) During the year.16.11.000 1 1 3. b) 75th Annual Report 2010 121 .` 9.` 3.02 Crore @ Closing rate of 1 USD = ` 46.65 68. 2009).12 27.20 Crore (EUR 0.02 Crore @ Closing rate of 1 EUR = ` 60.50 per share.13 74.16 Crore is recognized under repairs to machinery in schedule 16 as a write down for the year (including ` 47.50)} ` 33. 2010. The fourth instalment was due for payment on December 22.12 Crore (Previous Year .15 Crore @ Closing rate of 1 CHF = ` 45.83 Crore (EUR 0.84 Crore (USD 0. 20.00 3.04 Crore (SAR 0.00 0.` 6.36 Crore pertaining to the period until December 31. The Board of Directors have recommended payment of final dividend of ` 20. 73. Deferred Payment Liability included in “Unsecured Loans – Schedule 4” comprises of ` 8. Sales include Sales Tax incentive of ` 7.500 Import of Capital items Number of Contracts Buy Amount Purpose Import of Capital items 17. the Company changed its basis of identifying obsolescence of spare parts. in the nature of loans – Advances ances. natur ture ` Crore To Subsidiaries – Particulars Inter Corporate Deposits: ACC Concrete Limited ACC Mineral Resources Limited Encore Cement and Additives Pvt. a) articulars for oreign currency exposur xposure at date Par ticulars of unhedged foreign currency exposure as at Balance Sheet date Particulars Export Debtors Creditors Amount ` 10.50 per share which is inclusive of an one-time special Platinum Jubilee dividend of ` 7. Obsolescence of spare parts is now determined with respect to the actual usage pattern.` 2. Accordingly.00 3.71 Crore (CHF 0.12 27.30 Crore @ Closing rate of 1 SAR = ` 12.990 88.42.73 Crore (SAR 0.16 Crore. the profit before tax for the year and the closing inventory of stores and spare parts as at the year end.73 Crore @ Closing rate of 1 USD = ` 45. Loans and Advances.05)} ` 1.55 Crore (CHF 0.65 2010 2009 Maximum Balance during the Year Note .04 Crore @ Closing rate of 1 EUR = ` 67.` 0. Had this change in basis not been made.26 Crore (USD 0.37) {Previous Year .15) {Previous Year .51 Crore) 19.` 60.67 Crore (Previous Year .50 per equity share.02)} b) for ard contrac orw ontracts at year are follow ollows:The details of forward contracts outstanding at the year end are as follows:Currency EUR EUR O 2010 2009 USD 2010 2009 2 66.74 Crore) payable to the Industrial Development Corporation of Orissa Limited (IDCOL) in eight equal annual instalments without interest or penalty.76)} ` 5. Ltd.

61 390.16 (D) Licensed and installed capacity. 1956 :(A) Sales by class of goods (Net) 2010 (i) (ii) Cement Clinker Unit Lakh Tonnes ’’ Lakh Tonnes Quantity 209.58 1.522.94 42. 122 ACC Limited .49 98.31 31.99 4.27 422.02 119.73 2.01 7.02 2.48 51. actual production and opening and closing stocksInstalled / Rated Capacity Unit As at December 31.66 114.52 10.76 8.56 0.Standalone Financial Statements ADDITIONAL INFORMA PURSUANT PRO PAR GRAPHS ARA PAR II ART SCH EDULE COMPAN ANI 21 ADDITIONAL IN FORMATION PURSUANT TO TH E PROVISIONS OF PARAGRAPHS 3 & 4 OF PART II OF SCH EDULE VI TO TH E COMPANI ES CT.20 (iii) Consultancy Services (iv) Purchased Cement (B) Details of raw materials consumed 2010 Unit (i) (ii) Slag Gypsum Lakh Tonnes ’’ ’’ ’’ Quantity 22.30 11.42 ` Crore 93.63 2009 Quantity 2.49 ` Crore 196. 2009 261. 2010 270.20 3. ACT.20 2009 Quantity 19.68 24.92 891. 1951.01 244. 477 (E) dated July 25.69 Cement Lakh Tonnes Licensed Capacity per annum not indicated due to the abolition of Industrial Licences as per Notification No.83 As at December 31.027.14 44.99 44.123. 1991 issued under The Industries (Development and Regulation) Act.11 ` Crore 117.13 146.29 135.830.70 ` Crore 96.03 ` Crore 7.69 Actual Production 2010 213.47 46.56 243.84 1.51 (iii) Fly Ash (iv) Purchase of clinker (v) Others (C) Purchase of Cement 2010 Unit Cement Lakh Tonnes Quantity 3.33 2009 Quantity 212.43 ` Crore 7.717.75 2009 213.

20 % 13.50 290.77 33.123.73 84.28 891.45 2009 5.04 88.73 42.60 Lakh Tonnes) (E) Value of imports calculated on C.04 0.51 % 15. shortages and handling loss of 3.80 (ii) Stores and Spare Parts (iii) Coal (iv) Capital Goods (G) Value of imported and indigenous raw materials.27 100.00 75th Annual Report 2010 123 .83 185.001 ` Crore 88.F.60 29.25 100.92 0.92 0.01 ` Crore 111. 2010 Unit (i) (ii) Cement Purchased Cement Lakh Tonnes ’’ Quantity 3.17 2009 127.95 85.Opening stock as at January 1.34 32.41 968.75 86.51 112.47 151.79 1.23 751. basis ` Crore 2010 (i) Raw Material 134.43 Closing stock quantity excludes self consumption.30 3.09 54.55 550.00 2009 ` Crore 140.48 0.67 2.08 Closing stock as at December 31.41 508.81 52.60 (F) Expenditure in foreign currencies (on accrual basis) ` Crore 2010 Technical Know-how paid (Gross) Consultants’ Fees (net of recoveries) Others 16.47 Lakh Tonnes (Previous Year 1.I. 2010 Quantity 3. stores and spare parts consumed - (a) Raw Materials Imported Indigenous 2010 ` Crore 154.

41870 Mumbai.Standalone Financial Statements (b) Stores and Spare Parts 2010 ` Crore % 13. Chairman Paul Hugentobler Hugentobler Deputy Chairman Kuldip Kaura Kaur aura Nay Sunil K.69 86.00 2009 ` Crore 40.65 (H) Earnings in foreign exchange (on accrual basis) ` Crore 2010 Consultancy Services 51.41.54 2010 2 18. 2011 N.86 2008 2009 1 5.83 2009 55.70 2009 2010 1 5. K. Palia Palia Naresh Chandra Naresh Chandra Markus Akermann Markus Akermann L.41.64.371 1. Batliboi & Associates S. S.000 0. of Equity Shares Amount remitted (` Crore) Year to which it pertains 1 5.31 100.000 0. Narula D. Sekhsaria S. M. Batliboi Associates Firm Registration No. February 03.00 Imported Indigenous 39. A. of shareholders No.000 0.41.R. 101049W Chartered Accountants per Sudhir Soni Partner Membership No. Nariman Company Secretary S.36 (I) Remittances in foreign currencies 2010 On account of dividend to non-resident shareholders (a) Final Dividend No.94 251. For S. M.83 51. Mehrotra Mehrotr otra R. of Equity Shares Amount remitted (` Crore) Year to which it pertains (b) Interim Dividend No. Shah Shailesh Haribhakti Lynam Aidan Lynam } Directors 124 ACC Limited . As per our report of even date For and on behalf of the Board of Directors of ACC Limited.54 2009 2009 22 Previous year’s figures have been regrouped/restated wherever necessary to make them comparable with current year’s figures.85 100.69 % 15.40 226.71 291.36 55. Nayak CEO & Managing Director Chief Financial Officer D.15 84.29 266. of shareholders No.R. L. Burjor D.

6 6 + Expenditure 6 6 1 2 8 0 6 6 Profit/(Loss) after Tax 1 1 2 0 0 1 2 1 Dividend rate % 3 0 5 Investments 1 7 0 2 6 7 0 6 Misc. (ITC Code) 2 5 2 3 0 0 C E M E N T 75th Annual Report 2010 125 . L26940MH1936PLC002515 Balance Sheet Date 3 1 1 2 2 0 1 0 Year Rights Issue N I L Private Placement N I L Date Month State Code No. Generic Name of Principal Product of the Company (As Per Monetary Terms) Item Code No. Per formance of Company (Amount in ` Thousands) Revenue 8 0 7 4 2 5 8 7 Profit/(Loss) before Tax + 1 4 6 1 4 5 2 1 Earning per share (in `) 5 9 .Additional information pursuant to part IV of the schedule VI to the companies act. egistra Registration Details Registration No. erf Compan ompany IV. Capital raised during the year (Amount in ` Thousands) Public Issue N I L Bonus Issue N I L ESOS 5 1 Mobilisation eploymen yment Funds I I I. 1956. Position of Mobilisation and D eployment of Funds (Amount in ` Thousands) Total Liabilities Total Assets 1 1 1 0 1 2 6 1 0 1 1 1 0 1 2 6 1 0 Sources Funds Sources of Funds Paid-up Capital 1 8 7 9 5 1 0 Reserves & Surplus 6 2 8 1 5 3 8 7 Deferred Tax Liabilities 3 6 1 5 3 0 3 Application Funds Application of Funds Net Fixed Assets 6 6 4 5 2 4 4 6 Net Current Assets ( 9 9 3 0 7 2 0 ) Accumulated Losses N I L IV. 1 1 raised year I I. Expenditure N I L Secured Loans 5 0 9 9 3 0 0 Unsecured Loans 1 3 8 9 3 2 Produc oduct Compan ompany V. Abstrac act Company’s General ompany’ Profile Balance Sheet Abstract and Company’s General Business Profile I.

000 Shares of ` 10 / . Burjor D.50) 38. Limited* December 31. A.83 (4. 2010 (b) (C) Extent of holding 100% 94.each each fully paid up fully paid up and 100.000 Equity 8. February 03. Mehrotra R. M.each of ` 100 / .842.each fully paid up fully paid up 100. M. Limited December 31.73 (36. 2010 Lucky Minmat Limited ACC Concrete Limited National Limsestone Co.19) (624.Standalone Financial Statements Statement regarding subsidary companies pursuant to Section 212 of the Companies Act.911.35) (5. Shah Shailesh Haribhakti Lynam Aidan Lynam } Directors 126 ACC Limited . 2010 For and on behalf of the Board of Directors of ACC Limited. Sekhsaria Chairman Kaur aura Kuldip Kaura CEO & Managing Director D. 1956 ACC Mineral Resources Limited (A) (B) The “Financial Year” of the Subsidiary Companies Shares of the Subsidiary held by ACC Limited on the above dates : (a) Number and face value 495. Palia Naresh Chandra Naresh Chandra Markus Akermann Markus Akermann L. 2010 Encore Cement and Additives Pvt. Ltd. Nariman Company Secretary Hugentobler Paul Hugentobler Deputy Chairman Nay Sunil K.each fully paid up 31. 2010 December 31.71 694.18) (ii) 5.65% 100% 100% The net aggregate of Profits / (Losses) of the Subsidiary Companies so far as it concerns the members of the ACC Limited (a) Not dealt with in the accounts of ACC Limited for the year ended December 31. S.22) (8.99) - (b) Dealt with in the accounts of ACC Limited for the year ended December 31.each fully paid up December 31. K.92) (14.000. Nayak Chief Financial Officer Mumbai.000 Shares of ` 100/ . 2010 amounted to – (i) (ii) for the Subsidiaries financial year ended as in (A) above for the previous financial years of the Subsidiaries since they became the Holding Company’s subsidiaries - - - - - - - *Encore Cement and Additives Pvt. Narula Mehrotr otra D. 2010 amounted to (i) for the Subsidiaries financial year ended as in (A) above (` Lakhs) for the previous financial years of the Subsidiaries since they became the Holding Company’s subsidiaries (` Lakhs) (50.000 1% cumulative redeemable Preference Share of ` 10 / . L.000.17) (2. 2010 BulK Cement Corporation (India) Limited December 31. Pvt.050 Shares 325.each fully paid up 100% 100% 500.371. 2010 December 31.650 Shares Share of ` 10 / of ` 100 / . N. became a subsidiary of the Company on January 28. S.000 Share of ` 10 / . 2011 Palia S.

41870 Place: Mumbai Date: February 03. of the profit for the year ended on that date.53 Crore for the year then ended and of two associates which reflect the Group’s share of profit of ` 3. 2011 75th Annual Report 2010 127 .27 Crore and cash flows (net) amounting to ` 2.Auditor’s Report to the Board of Directors on the Consolidated Financial Statement of ACC Limited We have audited the attached Consolidated Balance Sheet of ACC Group. Our responsibility is to express an opinion on these financial statements based on our audit. of the cash flows for the year ended on that date. 2010 and also the consolidated profit and loss account and the consolidated cash flow statement for the year ended on that date annexed thereto. Accounting Standards (AS) 23. Financial Reporting of Interests in Joint Ventures notified pursuant to the Companies (Accounting Standards) Rules. for the year then ended. We conducted our audit in accordance with the auditing standards generally accepted in India. Batliboi Firm Registration No. Accounting for Investments in Associates in Consolidated Financial Statements and Accounting Standard (AS) 27. Based on our audit and on consideration of reports of other auditors on separate financial statements and on the other financial information of the components. We believe that our audit provides a reasonable basis for our opinion. of the state of affairs of the ACC Group as at December 31.03 Crore as at December 31. (b) in the case of the consolidated profit and loss account. and our opinion is based solely on the report of other auditors. as well as evaluating the overall financial statement presentation. and to the best of our information and according to the explanations given to us. 2010. These financial statements are the responsibility of the company’s management and have been prepared by the management on the basis of separate financial statements and other financial information regarding components. whose financial statements reflect total assets (net) of ` 174. For S. 2010 the total revenue of ` 648. we are of the opinion that the attached consolidated financial statements give a true and fair view in conformity with the accounting principles generally accepted in India: (a) in the case of the consolidated balance sheet. Consolidated financial statements.50 Crore.R. on a test basis. Batliboi & Associates Associates S.R. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. and (c) in the case of the consolidated cash flow statement. An audit includes examining. (as amended). These financial statements and other financial information have been audited by other auditors whose reports have been furnished to us. 2006. 101049W Chartered Accountants per Sudhir Soni Partner Membership No. comprising of ACC Limited (‘the company’) and its subsidiaries and associates as at December 31. An audit also includes assessing the accounting principles used and significant estimates made by management. evidence supporting the amounts and disclosures in the financial statements. We report that the consolidated financial statements have been prepared by the company’s management in accordance with the requirements of Accounting Standards (AS) 21. We did not audit the financial statements of six subsidiaries.

................................................................... N..........Consolidated Financial Statements Consolidated Balance Sheet as at December 31....96 1.R...........................................................................................................564........................... M.....................78 6.............................81 7.....157....91 3..............47 6...............................................104.................653..............................................................173.............. A.......................63 6..39) 0... 2010 ` Crore Schedules SOUR FU SOUR C ES OF FU N DS: Shareholders’ Funds: Share Capital .............90 249...... Deferred Tax Liabilities (Net) ..........42 3 4 5 509...................................................................42 12........93 14...........89 2010 2009 6 8.........306............... Current Assets.........................94 0...........192.........535.173.....213..150........................ Batliboi & Associates Firm Registration No................................................870...................02 2....... Nariman D..........................73 2.....05 2............ Provisions .......03 523.......................................... Batliboi Associates For S......92 566.........................................95 6.......................763.....................................................40 1...........08 5....................................... L.......................... 2011 S...................................11 786......... (To the extent not written off or adjusted) ASSET SSETS TOTAL ASSETS (Net) ............. S..................89 13 14 15 The schedules referred to above and notes to accounts form an integral part of the Consolidated Balance Sheet As per our report of even date For and on behalf of the Board of Directors of ACC Limited.09) 0.280.....................43 2..87 (935. Cash and Bank Balances ............ Unsecured Loans .......................................................78 2.............................................97 6........00 16................03 2... Net Current Assets .... 101049W Chartered Accountants per Sudhir Soni Partner Membership No...............075............................... Narula Mehrotr otra D. Company Secretary Palia S........... K.........96 1.378........96 366.25 2.............49 5............................... Investments .....793.......... 41870 Mumbai....15 7 8 9 10 11 12 925...........................................90 1.......... Nayak CEO & Managing Director Chief Financial Officer Burjor D..................... Reserves and Surplus ........681......79 1.......13 3........151....66 7.. Net Block ............ 1 2 187....................................... Palia Naresh Chandra Naresh Chandra Markus Akermann Markus Akermann L...........................................................................................59 4.......... pending allotment ..................................226........................... FU TOTAL FU N DS ............... S.............. Capital Work-in-Progress (including Capital Advances) .......R.....................092...............................30 465..................... Loan Funds: Secured Loans ............. Miscellaneous Expenditure ...869....................09 273......46 3.......................... Sundry Debtors .................................... Less: Accumulated Depreciation and Amortisation ............92 445...........................92 754............. Sekhsaria Chairman Hugentobler Paul Hugentobler Deputy Chairman Kuldip Kaura Kaur aura Nay Sunil K....40 550.. Shah Shailesh Haribhakti Lynam Aidan Lynam } Directors 128 ACC Limited .............................. February 03...........92 354......................406...86 7.............................................. Notes to Accounts ... Loans and Advances: Inventories ...........................................56 56...64 1.......92 5.................92 19 6.085... Other Current Assets .......92 187.... Minority Interest ................867.......... M......... Loans and Advances .786................................ APPLICA FU APPLICATION OF FU N DS: Fixed Assets: Gross Block ......... Mehrotra R....42 (1.....................................................................................458.........291...................94 2.................. Share Application Money........................793.............. Less : Current Liabilities and Provisions: Current Liabilities ............................165.............................

...721. Profit av for appropria opriation Profit available for appropriation ......... 101049W Chartered Accountants per Sudhir Soni Partner Membership No..... Notes to Accounts .......................................26 427............................... Amortisation Reserve . Tax adjustment for earlier year .................................................................02) 1.......................................................00 0............01 8......................................................... Add / (Less) .077....................................................................040.........................................................................88 95................... 2011 S.............................................................921.......70 244..............05 3.....................................................06 73.... Add .........175...................479....................................77 360.......00 25.................................247... Provision for Tax Current Tax ...........................97 (12.. L......... Sekhsaria Chairman Hugentobler Paul Hugentobler Deputy Chairman Kaur aura Nay Sunil K........... Nayak Kuldip Kaura CEO & Managing Director Chief Financial Officer Burjor D. M......... Previous Year Dividend Distribution Tax ................................................56 6...................93 7....................91 2............... General Reserve ....................36 6..........................00 25.16) 81.................Minority Interest ..........Share of Profit in Associates ........79) 1......... Profit after Profit after Tax . Fringe Benefit Tax .........................41 (411.... As per our report of even date 2010 9............. Depreciation and Amortisation .............. A.............................. Nariman D......................................................... Palia Naresh Chandra Naresh Chandra Markus Akermann Markus Akermann L......................... Surplus carried to Balance Sheet ..............16 0... Less .......................55 8................074............ M.......... N....92) (686. S..69 3............................................................. Appropria opriations: Appropriations: Interim Dividend .474...45 3...........48 (673........................117...................... Profit befor ore Profit before Tax ..... S...........016...........32 6........... Consolidated Earnings per Share {Face value of ` 10 each (Refer Note ................08 2...........................65 942........................93) 250.38 350.............................................13) ..........23 840................099...... Narula Mehrotr otra D........... 41870 Mumbai.....25 3.32 83...............................................65 880.......00 0............6)} Basic .............................27 17 6 18 19 The schedules referred to above and notes to accounts form an integral part of the Consolidated Profit and Loss Account For and on behalf of the Board of Directors of ACC Limited.............................55 242.......... Profit after Profit after Tax .171.....................................................................37 4...................................96 692.............10 (0..............................................37 83.....415... Balance Brought forward from Previous Year ..........R........53 3.........................040..........90 187...............................................41 8................................................................................203.............................560........ Proposed Dividend {Refer Note -14(b)} ................... Company Secretary Palia S........................................... Batliboi & Associates Firm Registration No..............................718..............14 16 8....... Debenture Redemption Reserve ...............................357......563..............................55) (0..45 ` ` 57...............13 84...............16 187...50 (0......................06 1..............................72 57......................... Batliboi Associates For S.............................................................619................................. Shah Shailesh Haribhakti Lynam Aidan Lynam } Directors 75th Annual Report 2010 129 ............... XPENDIT DITU EXPEN DITU R E: Manufacturing and Other Expenses ............ Other Income ..........Excise Duty .................................. February 03............17) (341...................R..... 2010 ` Crore Schedules NCO I NCOME: Sale of Products and Services (Gross) .......Consolidated Profit and Loss Account for the year ended December 31............. Deferred Tax .....................................59 373.....46 2009 9..........36) 1..... K..... Mehrotra R...............258...............39 57......... Diluted .............. Dividend Distribution Tax ................... Sale of Products and Services (Net) (Refer Note ....75 384.....91 1................79 3....................................................... Interest Expenses ............32) (12..........................

..........81) 2..320....... Note : Cash and Cash Equivalents includes ` 27............560........................88) (94...... Cash and cash equivalents at the beginning of the year .......................................................................................................................07) 21.... 21 Dividend Received ... 19 Purchase of Investment in subsidiary Companies ....................51 0......11) (435........................74 13....66) 509.........90 (35............................................................ Operating profit before working capital changes ...................03) (500.. 28 Dividend paid (including Dividend distribution tax) ......899.........................................05 2...................... Cash generated from operations .................................................63) 0....................23) (656.................19) 1................................................................` 26...73) (11............................................................................ Mehrotra R.................................... 6 Miscellaneous expenditure written off .93) (454........................23 0........ 13 Decrease / (Increase) in Other current assets ...23 B............ Nariman D.......56 1..................33 Crore (Previous Year ......896................ Cash and Cash equivalents in cash flow statement ..........085............................................ Components of cash and cash equivalents: Cash and Bank Balances as per Balance sheet .. from inv activities Net cash from investing ac tivities .....................................81 1.................. Sekhsaria Chairman Hugentobler Paul Hugentobler Deputy Chairman Kuldip Kaura Kaur aura Nay Sunil K........................12 (1...........74) 7.............................. 25 Proceeds / (Repayment) from Short term Borrowings ......................................42 1.........08 (8............................ Cash from opera activities Net Cash flow from operating ac tivities ............................. Batliboi & Associates Firm Registration No........ 26 Proceeds from Long term Borrowings ..............................00 (215....................................44) (105..........017..............................19 1.......................................................................43 81.415....................................................................................13) 34........... M...............................................................23 754..........................896..67 2009 2.............. A.................................................869.............02 2........................82 41.........98 (774.....................90 300... Add : Investment in Mutual Funds ........................................................................61 (75.......... activities Net cash used in financing activities .......... Company Secretary Palia S............ 3 Loss on sale / write off of Fixed Assets (Net) ...684.................................................72) 57............................................. 7 Provision for Bad and Doubtful Debts and Advances (Net of adjustment) ...............11 2...................................................................31 (206......13 3......458..........................................141...............78) 50.............247.......................... M......15 (76.............................. Palia Naresh Chandra Naresh Chandra Markus Akermann Markus Akermann L........... 12 Decrease / (Increase) in Inventories ............................` 24............ Narula Mehrotr otra D...........27 2.................. 2011 S.02 Crore) in respect of Unclaimed Dividend................. Cash and cash equivalents at the end of the year ..........01) 16......................... 18 Purchase of Investments .......... 15 Direct Taxes Paid (Net of refunds) .....................940........... 9 Wealth Tax provision ..................................96 (842.......22) (0. Movements in Working Capital: 11 Decrease / (Increase) in Sundry debtors and Loans and advances ..........405..63 (1.............. Taken over on acquisition of Subsidiary ..............................................................05 1..................41 427.375..........10 (35. K.............. Cash flow from operating activities 1 Net Profit before Tax ............................................................................................................... 20 Proceeds from Sale of Investments ... Adjustments for: 2 Depreciation and Amortisation ......42 1...............Consolidated Financial Statements Consolidated Cash Flow Statement for the year ended December 31..............................25 0................ 4 Interest and Dividend Income ...59 (97...................................53 150....................................R.................................................................. N.......................... 27 Repayment of Long term Borrowings .............16) 2..........................72 39.................................. the balance of which is not available to the Company............................................................................................................. L........................................................ Cash flow from financing activities 23 Interest paid {includes capitalised ` 36..................................................................................................................... 2010 ` Crore 2010 A................... Notes to accounts form an integral part of the Consolidated Cash flow statement As per our report of even date For and on behalf of the Board of Directors of ACC Limited...................36 1.. February 03......... Cash flow from investing activities 16 Purchase of Fixed Assets (Including Capital work-in-progress) .48 373................................. 17 Proceeds from sale of Fixed Assets .... 5 Interest Expense ..............................483................... Batliboi Associates For S............17 241.. 22 Interest Received ........75 2.........................64 14.93 3............... Nayak CEO & Managing Director Chief Financial Officer Burjor D..............63) 437................................... 14 Increase / (Decrease) in Current liabilities and Provisions ..38 Crore)} ..........................405.........R..............................71 71..........................85) (53.......... 8 Consumption of Machinery spares ........... S......01 1................. Increase/(Decr ease/(Decrease) equivalen alents Net Increase/(Decrease) in cash and cash equivalents ....70 50.............................. 24 Proceeds from issue of Share Capital (Including Securities premium) ............62 0...........896.................. 1...........................92 34.......... 101049W Chartered Accountants per Sudhir Soni Partner Membership No..56 1..................................... S....... 10 Provision for obsolescence of spare parts ...................................................................67 1........83 (15.....................79 (494.............60 Crore (Previous Year .............. Shah Shailesh Haribhakti Lynam Aidan Lynam } Directors 130 ACC Limited ....52 20.............................................................. 41870 Mumbai....49) 1....90) 84............... C.............

...............040......00 325........77.79 187..........94 187...................00 6.....60...................Nil (Previous Year . Add:Additions / Adjustment during the year ..92 75th Annual Report 2010 131 ......... Employ ount Profit Loss Accoun Profit and Loss Account ..............40..79 3..............................................10....3..45...07 844..................1......179) Equity Shares of ` 10 each ...00 100.................88..Vested Options exercisable @ ` 127/....... Amortisa tisation Reser eserv Amortisation Reserve Balance as per last account ..054 Shares) SCH EDULE ...... 2010 .4...............18......................95 187.................292) Equity Shares of ` 10 each fully paid .61 350................................................ Options in force as of December 31. 2010 under the Employees Stock Option Schemes ...............9.........93 1.................94 TOTAL ..681.............63 35.............00.....00 7..................... TOTAL ..............00.37 5...Nil (Previous Year .....................................00 25............74 0.87... Notes : Out of the above 60.................060 (Previous Year .....07 15..63 250...22........00.............84 1.......................65 7......20 187....... SHARE CAPITAL 2010 HORISED AU THOR ISED 22.. Add:Amount transferred from Profit and Loss Account . Employees Stock Option Outstanding ..... SUBSC BSCR SU BSCR I B ED 18........................75 0.............07 0..11B(c)} .......... fully paid issued by way of Bonus Shares by utilisation of Securities Premium and Reserves.52.20 187....243 (Previous Year .............060) Equity Shares of ` 10 each Forfeited ...18.........00.02 1...Amount Paid ............00 35..Schedules forming part of the Consolidated Balance Sheet SCH EDULE SHARE CAPIT APITAL SCH EDULE ... Add:Additions on exercise of Employees Stock Option ...00..........50...754.....93............000) Equity Shares of ` 10 each ......00 188................................... 0......00 25...................... 10. ISSUED ISSUED 18............78 ` Crore 2009 15.......14 0.................... Add : 3..02 3...65 7............................ Less:Provision for capital subsidy receivable {Refer Note ...84.........00 188.. 9.00................00 2...84..............77........000) Preference Shares of ` 10 each ......00 0.......................00 0.......................... General Reser eserv General Reserve Balance as per last account . RESERVES AND SUR PLUS SCH EDULE RESER ESERVES AND SUR PLUS 2010 Reser eserv Capital Reserve Balance as per last account .............19...........................640) Equity Shares of ` 10 each... fully paid issued for consideration other than cash pursuant to contracts............. Debentur Redemption Reser ture eserv Debenture Redemption Reserve Balance as per last account .....07 842....404............72...69 0............... Add:Amount transferred from Profit and Loss Account ..........50....00 100....092................175.....................14 0................76 844..........49 0.........000 (Previous Year ..78 187...............080) Equity Shares of ` 10 each..........69 1..........2....72.per share till October 30.754................................87............. Premium Securities Premium Balance as per last account ..19.080 (Previous Year .............. 225...............15 844.45 6...00 60......95 ` Crore 2009 225...........63 10.....................................004....................00 325.. Add:Amount transferred from Profit and Loss Account ...............356 (Previous Year ............................................640 (Previous Year .4.000 (Previous Year ..52............054 Shares) ESOS 2001 ......

..................................................................81 47............000) 8..........74 540.................................................................00 * The mortgage / charges indicated in above rank pari-passu inter-se and are subject to the prior charges in favour of the Company’s Bankers on specific movable assets for securing working capital requirements / guarantee facilities.....19 354.............. *Secured by a Mortgage on certain immovable Properties and hypothecation of all movable assets except book debts...........00 300...... 2013 ... Deferred Tax Assets arising on account of : Provision for Employee Benefits ................................4.................... (b) 3.93 366.................. 5..........CONVERTIBLE DEBENTURES *Secured by a charge on all movable and immovable assets under the Debenture Trust Deed (a) 2........38 151............00 200.......18 16................................... Expenditure debited to Profit and Loss Account but allowed for tax purposes in the following years ...................90 173....82 505......................63 132 ACC Limited .......3............... 2014 .................................................................................. 57.................................................... Others ...93 300................Consolidated Financial Statements Schedules forming part of the Consolidated Balance Sheet SCHEDULE SECUR LO SCH EDULE .54 23.................................5... *Secured by Hypothecation of inventory and books debts TOTAL ..........45% Non-Convertible Debentures redeemable at par on October 07............. {Refer Note -14(a)} Deferred Sales Tax Loans ......74 7.................... 509....................82 44........03 8.........14 14..................................77 0........................... SECUR ED LOANS 2010 PRIVATELY PLACED NON .......................................................12 ` Crore 2009 9...................... Net Deferred Tax Liabilities .....................84 540.............................................65 71..........65 44...............16 35.................00 200........74 ` Crore 2009 505.....3.30% Non-Convertible Debentures redeemable at par on December 09............................. Provision for obsolescence of Spare Parts .........................................................00 50......000 (Previous Year .............................................000) 11........92 SCH EDULE DEFERR LIABI LITI SCH EDULE .............................................................................................93 550.....................IDCOL ..................... DEFERR ED TAX LIABI LITI ES (Net) 2010 Deferred Tax Liabilities arising on account of : Depreciation and amortisation differences ........................................ TOTAL ....................... 9......... Cash credit facility from Bank ...............................000 (Previous Year ........... UNSECUR ED LOANS 2010 Long Term Loans Deferred payment Liability ..2.........................00 ` Crore 2009 SCHEDULE UNSECU NSECUR LO SCH EDULE ......................... Term Loans from Banks .............................. Other .....................................................................................

650.49 3.43 19. 6.453. 5.306.60 3.76 29.378.04 3.36 7.59 2. Goodwill 12.64 4.91 1.08 1.48 Crore (Previous Year .58 40.78 192.38 0.07 4.27 2.48 Crore).01 62.34 162.099.03 31.73 162.68 15.458. (iv) Goodwill is on account of Investment in subsidiaries.35 35.50 1.02 77.97 58.04 0.960 (Previous Year ` 6.94 5.684. Capital Work-in-Progress {Including Capital advances ` 97.Schedules forming part of the Consolidated Balance Sheet SCH EDULE ASSET SSETS SCH EDULE .` 0.88 133. 2.27 0.966.81 55.99 66.05 0.68 4.38 3.45 29.78 133.90 78.165.32 763.43 13. Mining Rights Sub Total TOTAL Previous Year 57. Fixtures and Equipments Motor Cars.98 617.32 0.786.15 12.33 2.28 79.68 Crore).06 69.76 70.27 102.31 24.43 1.229.34 3.76 For the Deductions/ As at As at As at year Adjustments 31-12-2010 31-12-2010 31-12-2009 7.47 123.18 15.710) in various Co-operative Housing Societies.87 696. Sub Total ntangible I ntangible Assets 10.82 5.59 413.00 27.16 87.17 Crore) and Net Block ` 0. 9.64 64.59 5.165. Bridges and Fences Railway Sidings Rolling Stock Furniture.77 95.02 76.93 20.47 Notes:- (i) Buildings includes cost of Shares ` 5.58 31. ownership of which does not vest with the Company. 4.302.98 13.152.14 Crore)} 2.76 61.71 3.731.09 0.11 5. 7.79 5. Plant & Kilns and Roads Bridges & Fences include Gross Block of ` 12.14 53.82 8.22 0.59 Crore).157.32 8.02 45.15 12.35 3. in respect of 17 residential flats (Previous Year 20).31 35.41 20.` 8.28 1.76 148.53 148.66 349.56 31.48 Crore (Previous Year .84 111.` 12. Computer Software 11.42 68.37 34.36 65.88 16.64 192.48 Crore) and accumulated depreciation ` 28.081.50 119.58 19.02 131.50 1. 3.16 51.77 58. FIXED ASSETS ASSET SSETS FIXED ASSETS AT CO ST ROSS BL G ROSS BL O C K AT CO ST DEPRE CIA IAT AM RT ISA DEPRE CIAT ION / AM O RT ISAT ION ` Crore BL N ET BL O C K As at Additions on Additions/ Deductions/ As at As at Additions on 01-01-2010 Acquisition Adjustments Adjustments 31-12-2010 01-01-2010 Acquisition of Subsidiary of Subsidiary Tangible Assets : 1.786.15 84.30 32.52 7.37 177.17 19.34 1.61 40.48 69.91 113. ` 26.34 146. 8.98 39.89 54.98 33.6. (ii) Rolling stock includes assets given on lease to Railways under “Own Your Wagons” Scheme. etc.46 9.564.14 1.033.87 1.27 0.77 33.92 113.` 28.378. Freehold Land Leasehold Land Buildings Machinery.39 68.35 Crore (Previous Year . (iii) Machinery.597. Trucks.15 11.51 70.30 Crore (Previous Year .49 2.48 3.96 4.50 7.44 427. in respect of expenditure incurred on capital assets.13 66.02 6.02 41.12 63.99 13.05 2.` 26.76 32.43 44.67 6.311.34 3.96 0.06 0.78 2.15 13. ` 4.67 14.151.49 2.00 1.77 6.35 4.72 373. Plant and Kilns Roads.74 4.420.83 27.99 Crore) respectively.68 Crore (Previous Year .42 7.204.` 28.62 19.02 146.55 6.393.79 137.34 7.13 7.24 873.23 16.34 2.113.421.17 Crore (Previous Year .28 Crore (Previous Year ` 202. 75th Annual Report 2010 133 . Gross Block ` 28.

...(At Cost unless otherwise stated) Face Value ` Investments Long Term Investments Trade Investments (a) Equity Shares . Less: Dividend Received .... (allotted during the year) Associate Companies Equity Shares ............................Fully Paid (Unquoted):* Kanoria Sugar & General Mfg.......25 10 8... . ....50......................... .......................................................... ...................... Reliance Liquidity Fund ......35 - 10 408......Fully Paid (Unquoted):(i) Alcon Cement Company Pvt...........................000..618...... {includes unamortised Goodwill of ` 11..41 3........... Birla Sun Life Cash Plus Institutional Premium ...47 46.......94 - 0................................. Curren Investments ent ts.... * The Sone Valley Portland Cement Company Ltd.................94 22....328............................... 1......000 10 10 10 10 562.... (ii) Asian Concretes and Cements Pvt.` 13...........01 Crore ...71 Crore (Previous Year ..................... Ltd .....71 3.......................... Other than trade (lower of cost or fair value) Investment in Mutual Funds .......04 46...............65 10 47................000 36........... * The Jaipur Udyog Ltd........................ INVESTMENTS ..........................7... .......................... Less: Amortisation of Goodwill .........738 10. Ltd..........14 (1........... * Rohtas Industries Ltd...16 (1... ...................... * Gujarat Composites Ltd.. * Ashoka Cement Ltd............33 Crore)} Add : Share of Profit ...................................................... ... Less: Amortisation of Goodwill ...........................................31 18.` Nil)} Add : Share of Profit ............................811 73..59 Other than Trade Investments (a) Government Securities *(i) Quoted ..79 83............Consolidated Financial Statements Schedules forming part of the Consolidated Balance Sheet SCH EDULE INVES MENTS NVEST SCH EDULE ................81 3.................01) (1..16) 35...............707..........................71 10 10 10 10 5 10 10 10 4 60 220 120 100 100 50 90 3..............Fully paid-up (Unquoted):Reliance Liquidity Fund ................................. (ii) Unquoted** 5.............. (Acquired during the year) {includes unamortised Goodwill of ` 14....37 Crore (Previous Year ............100.........23 134 ACC Limited ....................463....... ...............36 (1............... * The Travancore Cement Company Ltd...................395.............000 23........................... Kotak Liquid Institutional Premium ........................ ...13% Himachal Pradesh Infrastructure Development Board Bonds {**includes Securities of ` 0....................62) 22.....568 46................................ (21.................................... .........866 - 56...............460 70.............................................(Previous Year ` 0...............71 3....................................01 Crore) deposited with Government and others as security deposit} (b) Equity Shares ........................000 bonus shares received during the year) (b) Equity Shares ......................................Fully Paid (Quoted):Shiva Cement Limited .....................16 75..... Templeton India TMA Super Institutional Plan ................. Company Ltd..........179.......650..........................................................................43) (1........212...........71 1........426.............507 0.............................Fully Paid (Unquoted):Moira Madhujore Coal Ltd........................37 73.......001 22.....65 23..............270......62) 23......... Numbers 2010 ` Crore 2009 ` Crore 2 23.................................. * Digvijay Finlease Ltd................. trade Current Investments....000 37 3.....

....10 2009 ` Crore 75..........003...........................01 6..227 300.....326 17.222..................109.........496............638............11 12..Super IP .... INVESTMENTS .................839 56..........000..491......22 75..................................236 13..........903 10.......580..........................7.000..225....08 74..213.... DSP Black Rock Money Manager Fund Institutional ..................033...000 10 1..........213 5..468 20..FMP 3m Series 23 ..................Qif .....550..........................18 20..........45 25... IDFC Money Manager Fund ............Ultra Short Term Debt Fund . IDBI Liquid Fund .. Prudential ICICI Super Institutional Plan .....543 46........... HDFC ......991.....770.12 37.31 13........................01 5..06 40........................Plan C ....476.......00 - 75th Annual Report 2010 135 ........................314 50.....126 16.............. Canara Robeco Liquid Super Institutional .....992 4...................11 5.........................................827 38......................Schedules forming part of the Consolidated Balance Sheet SCH EDULE INVES MENTS NVEST SCH EDULE .............20 20...... HDFC ..... Fortis Overnight Fund Institutional Plus ................000 10 10 10 10 10 10 10 10 10 10 10 100 1....000 1..................29 34......569 40..000 13..... Religare Liquid Fund Institutional Plan .............685 29.......095...986....03 75..........11 40.. DSP Blackrock ............................237................ Baroda Pioneer Liquid Fund ...........121........ Axis Liquid Fund .......304 24...... DSP Blackrock ...........26 10.036 2010 ` Crore 35.169....................435... SBI Magnum Instacash Fund .002.......01 40..........................000....213....12 30.496 39...000............468..Plan B ...........403.15 49.........665.................975........31 25.............678 2..................169 37...01 8...022......109 37.......................16 75.............000 10 10 10 1.....001.564 44......281........... Sundaram BNP Paribas Money Fund Super Inst DDR ....Institutional ..............FMP 3m Series 24 ...346........34 3..........................................565......279.............002.01 13...........703 37..............689..647......005................ LICMF Saving Plus Fund .....000 1................................106.....112............488...............23 40.....................................970......001........... DSP Black Rock Cash Plus Fund Institutional ....Plan C ......098..............(Contd.................293................................058....761............321............TP ....677 30...12 24..........................113 24...................................139 190......997 8..........108.........016..005.......000 25.. DSP Black Rock Liquidity Fund Institutional .......................124..................980 50.........856........672................308............. DSP Black Rock Cash Plus Fund Institutional ... 10 10 10 1..707 3.... Axis Liquid Fund .. DWS Treasury Fund .350 7....370.... Tata Liquid Fund Ship ..161......................................395 32........587 40..811.03 16..458..........................019........................ HDFC Liquid Fund Premium Plan .04 8.165....................... DSP Blackrock ....06 30.......Qif .651.....893 59.....Growth Plan ...788 27..048 20.......003......08 40.........084..... DSP Blackrock ...05 5...675 73.......000 20..........................................09 19.... UTI Liquid Fund Cash Plan IP ............15 56.... IDFC Cash Fund Plan C Institutional ....14 17..................22 37.........525....00 5.......... Principal Cash Management Fund Institutional Premium ................ Fidelity Cash Fund Super IP ......00 4..Growth Plan .............Premium Plan .....214.....000 10 1.15 9.............656 9.....426 574............................01 38......218........................466.................... ICICI Prudential Liquid Super Institutional Plan .. LIC Mutual Fund Liquid Plan .02 38......669.. UTI Money Market Fund ..........17 20...........258...................682... HDFC Floating Rate Income Fund .000 12...............683. JP Morgan India Liquid Fund .752 752..341 8....066........... ICICI Prudential Ultra Short Term Plan Super Premium .........000 10 10 10 1.808.14 6........FMP 3m Series 22 .........................07 44......... IDFC Cash Fund ..........................Cash ...000..... JM High Liquidity Super IP .............................. ICICI Prudential Quarterly Interval II ...............12 20........001................186.........................................................FMP 3m Series 21 ................. Baroda Pioneer Liquid Fund Institutional .... HDFC Liquid Fund ................................322........... ICICI Prudential Flexible Income Plan Premium ................717 74..........465...............005.........577......28 44.....936.................) Face Value ` DWS Insta Cash Institutional ....045 351...........614 39....387.....................982 4.....Super Inst Plan C .. Birla Sun Life Cash Plus Institutional Premium ..........016 18...177 10..............................000.........Institutional ........ Fidelity .......031.........000 10 10 10 10 10 10 10 10 10 10 100 100 10 10 100 10 10 10 Numbers 75.............. Baroda Pioneer Liquid Fund Institutional .....STP ........ Sundaram BNP Paribas Money Fund Super Institutional .. ICICI Prudential Interval Fund III Quarterly Interval Plan ...... DBS Chola Liquid Institutional ..............762....04 19........07 10.....207..................................... Birla Sun Life Cash Manager Institutional Premium .......

....000........90d ......... SBI .....18 20......909 15..........000.......18 33...65 1....000........000 16...Inst . SBI Premier Liquid Fund ......10 10.329...............................08 20..........3m .............000...14 30........049..................33 20.Series II ..........792.............................349 17....000..04 9........................Super Institutional UTI ....IV ........061 19.......Series XXVI ...............000 15...........185..................40 3...826..940 2010 ` Crore 41....90d ...084.468...19 9..908..14 15.........09 10................853...............000 10..............91d ........ LIC -MF Income Plus ................000..IP .........168....112.....000............................QIP ...... JM Money Manager Fund Regular Plan .. Kotak Flexi Debt Fund ...........37 ..383....) Face Value ` JM High Liquidity ........................Debt Fund Series .....................FIIF ..................09 15.. Kotak QIP -Series 9 ... Sundaram Money Fund .........13 18.Inst .........................Series III .........903......064....019....499.517 14.....Super IP ..............015...07 25.......05 12....... Sundaram ....SHF .537.... UTI ...........................FRF .....406... L & T Liquid Fund ... Sundaram Flexible Fund St Institutional ....801 19....................................491.............. Religare Fmp Series IV Plan A ..........000...STP .........7......Super Inst ..................... Tata Liquid Fund..... {Market value ` 17.....960..........889.........320..............14 10.000... Kotak Quarterly Interval Plan ..............000 20..................050....343...394......................01 13.....000........46 136 ACC Limited ........Interval Plan .......................036 9..........007...999.Interval Plan .................................................989 8......26 13........ Religare Liquid Fund .....457 199.......Super Inst ...........000 10 10 10 10 10 10 10 10 1........Institutional Plan ............222 32....000.....................Super Inst .......074 201......11 15....756..........314 9............58 Crore)} Aggregate amount of unquoted Investments ........337...............288..........08 8....177 30.......199...............11 23.000..................025 200.... SBI ........321. Sundaram Ultra Short Term Fund .700 18..........000 8.. Sundaram ..............000 10......3m ..........INV .Ultra Short Term Fund ...999............ Principal Pnb Fmp 65 ...415 131..........IP ......03 0. Sundaram .........909...043......... Kotak Liquid .......963......... Reliance Liquid Fund -Dividend Reinvestment Plan .....Institutional Plan .004.. INVESTMENTS .........20 141...................................Quarterly Plan ...QIP .. Religare Fmp Series IV Plan C .001 25...........................989..Interval Plan .....943..................................173...002...000...................36 ..........02 14.................... TOTAL ...890 30......................11 1.956............C .....714 13.......528... (II) * Denotes amount less than ` 50.................911 36....... Principal Pnb Fmp 91d .....037....................275 10....QIP ..002..000 15........45 10.........Daily Div Plan ............(Contd..... SBI .000 10 10 1............ UTI Treasury Advantage Fund ....................000..E .........03 20......000 10..............00 1................141... Templeton India ..Series 5 ........................Ship .000 26.................065......02 44..............880 8...25 10....268........000 10 1000 15.......Consolidated Financial Statements Schedules forming part of the Consolidated Balance Sheet SCH EDULE INVES MENTS NVEST SCH EDULE ..08 17...Super IP ....` 19....685.............24 1..001....Inst .... Notes (I) Aggregate amount of quoted Investments .....144 15.944 262...Inst ................ Pramerica Liquid Fund ..258...Series XXV .015.Ultra Short Bond Fund ........86 23..IP ...........848.. Kotak QIP -Series 10 ......Institutional Premium .006............972..07 20.125...........480 12........QIP .405....000.............14 25..38 20..81 1. Religare Liquid Fund ........11 20.21 2009 ` Crore 1.......TMA ....47 10... Tata Floater Fund ... Sundaram Money Fund ..477 19.....................05 15.............................. UTI ..000.............848 15.......................001..Inst ...........Series XXIV .............D ..Super Institutional Plan ...........100.....06 16.......91d ....... Principal Pnb Fmp 64 ...........192.....000......000 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 1........Institutional .FIIF ......................405 7...15 9..460 8........Super Institutional Plan ....Debt Fund Series ..........00 10............13 15.327...........285.........803 84.....501 25.......44 Crore (Previous Year ............17 7...........................17 26................................ Templeton India .................. UTI Liquid Cash Plan Daily Income RE.....Super IP ............ Religare Active Income Fund Institutional ...............058.98 Numbers 41.........................65 1..... SBI Magnum Instacash Fund .

........22 1.......10......................... {Including Cheques on hand ` 7.55 51.........................9.................................................... Packing Materials and Fuels (Refer Note ...............................66 4............................................. SCH EDULE SUNDRY DEBTORS SCH EDULE ..............19 113....56 72........ INVENTORI ES (At cost or net realisable value whichever is lower) 2010 Raw Materials ........... In Fixed Deposits ...................................................................................................40 60..73 ` Crore Less: Provision made for Bad and Doubtful Debts {Refer Note ............................. (ii) Railway...................00 171..........40 35............................32 182...42 75th Annual Report 2010 137 .02 0......................28 35.................40 8......67 201........91 147..............................................................................................Schedules forming part of the Consolidated Balance Sheet SCH EDULE INVENTORI NVENTOR SCH EDULE ...............09 ` Crore 2009 0..................34 Crore (Previous Year .......................... Considered Doubtful ...................... 61.085.......................................................26 61........ Stores & Spare Parts.74 464............................33 0.......................................15 71...........................................................92 131.........12 55......................................................... TOTAL .................................................15 12................... Insurance and Other Claims * Considered Good .........................49 61.................................... (ii) Railway........................................ TOTAL ....08 786...60 238.............. In Unclaimed Dividend Accounts .............41 6..63 24..(Considered Good) (i) Sale of Products and Services .............01 35.......78 987..... Insurance and Other Claims * .......52 655............................................................01 0................49 146........ (b) Others .11 4..... Considered Doubtful ...............91 15....................11B(c)} . TOTAL ................................... (b) Others ...................15) ...91 56......................................... SCH EDULE CA AND BAN BALANC ANK ALANCES SCH EDULE .....................................................................................................03 56.......................55 430......65 10......91 187.................8............................... Included in Sundry Debtors : *Dues from Central / State Governments .... Work-in-Progress ................27 172........64 1............................. SUN DRY DEBTORS 2010 SUNDRY DEBTORS (SECURED AND CONSIDERED GOOD) (a) Over Six Months .` Nil)} Balances with Scheduled Banks In Current Accounts ..................53 27......................................................................... 2009 8..97 99... Finished Goods ...... Share of Cash and Bank balances in Joint Ventures ......96 88...........01 754.51 47.................89 52.................................................................................... SUNDRY DEBTORS (UNSECURED) (a) Over Six Months (i) Considered Good ..51 273.....................................69 2.....................................30 925...................50 168.................76 8.................48 112.............. CASH AN D BANK BALANCES 2010 Cash on Hand ................................................................................................90 ` Crore 2009 98...............................24 61.............91 249................................. Post Office Savings Accounts .......

...... etc................................... LOANS AND ADVANCES (Unsecured..................18 24........66 ` Crore 2009 139............518.............Provision made for Doubtful Advances ...................20 7.11................................... Sales Tax..........................67 465.......33 2......59 128...............12. unless otherwise stated) 2010 Balances with Excise..........................30 257.......... 27................580.................... Government Bodies and Others Considered Good ..............................................................86 0..................14 58.................99 2. Less .......................................... Customs and Port Trust Authorities on Current Accounts .........................................................................98 2. TOTAL ........ Fixed Assets held for sale .........................................60 137...............66 3........................... TOTAL ...49 24.........23 12.......................................92 ` Crore 2009 3......30 SCHEDULE LO AND ADVANCES SCH EDULE .................30 254........................................ Sundry Advances and Deposits....... Advances and Deposits with Railways...................... Deposits from Dealers and Others .....................06 ` Crore 2009 1............................................................................... Interest on Secured Loans accrued but not due ..................25 397..42 178.........46 7................. Share of Joint ventures in other Current Assets .... Considered Doubtful ..................01 38................. Other Accrued Interest ............... Advance from customers ..................075.43 2.......... Investor Education and Protection Fund* Unclaimed Dividend ....66 0..51 461......13 0.........213................................... 2010 138 ACC Limited ................ 254.......................02 0...............96 1.....79 445..........................05 SCH EDULE CUR LIABILITI SCH EDULE ................................... Considered Good.....88 217.............................07 45.......................................................................... Advances Recoverable in cash or in kind or for value to be received ................................13 27..............13 38........................................... Unclaimed Matured Deposits ..................... CUR R ENT LIABI LITI ES 2010 Sundry Creditors ................ Advance payments against taxes (Net of provision) .............88 178................13............................33 0....................................25 131.....................................96 * No amounts due and outstanding to be credited to Investor Education and Protection Fund as at December 31............................................................Consolidated Financial Statements Schedules forming part of the Consolidated Balance Sheet SCHEDULE OT CUR ASSET SSETS SCH EDULE ................ OTH ER CUR R ENT ASSETS 2010 Accrued Interest on Investments .................08 6.................... TOTAL ........................ 8.................................96 3.........83 146.......01 56..........

Schedules forming part of the Consolidated Balance Sheet
SCH EDULE PRO SCH EDULE - 14, PROVISIONS 2010 Provision for Employee Benefits (Refer Note - 7) ....................................................................... Provision for Mines Restoration (Refer Note - 10) ...................................................................... Provision for Income Tax(Net of payment) .................................................................................... Proposed Dividend .................................................................................................................................... Dividend Distribution Tax ...................................................................................................................... TOTAL ... 123.68 12.62 1,068.36 384.88 63.92 1,653.46 ` Crore 2009 100.60 9.98 754.79 244.06 41.48 1,150.91

SCH EDULE MISCELLAN ELLANEOUS EXPENDITU XPENDIT SCH EDULE - 15, MISCELLANEOUS EXPENDITU R E (To the extent not written off or adjusted) 2010 Preliminary Expenses ............................................................................................................................... TOTAL ... 0.66 0.66

` Crore 2009 0.97 0.97

75th Annual Report 2010

139

Consolidated Financial Statements

Schedules forming part of the Consolidated Profit and Loss Account
SCHEDULE OT INC NCO SCH EDULE - 16, OTH ER INCOME 2010 Opera Income Other Operating Income Provision no longer required written back .................................................................................... Sale of Surplus generated Power ....................................................................................................... Miscellaneous Income ............................................................................................................................ {Includes Gain on Exchange (Net) - ` 2.58 Crore (Previous Year - ` 3.66 Crore)} Income Other Income Profit on Sale of Investments .............................................................................................................. Interest on Bank deposits {TDS ` 3.77 Crore (Previous Year - ` 9.83 Crore)} .................. Other interest income {TDS ` 0.26 Crore (Previous Year - ` 0.28 Crore)} ......................... Dividend from current Investments - Other than trade ......................................................... Share of Other Income in Joint Ventures ....................................................................................... TOTAL ... 0.11 43.25 3.81 50.66 97.83 0.01 360.55 0.71 37.31 3.96 34.63 76.61 242.01 ` Crore 2010 PUR HASE ADING CEMENT AND OT PRODUCT PUR C HASE OF TRADING C EMENT AND OTH ER PRODUCT ............................................... ANU CTU EXPENSES MANU FACTU R I NG EXPENSES Raw Materials Consumed ..................................................................................................................... Stores and Spare parts Consumed .................................................................................................... Packing Materials Consumed .............................................................................................................. Power and Fuel ........................................................................................................................................... Repairs to Buildings ................................................................................................................................. Repairs to Machinery (Refer Note - 15) ........................................................................................... Repairs to Other Items ............................................................................................................................ Royalties ........................................................................................................................................................ Excise Duties (including Education Cess) ....................................................................................... {Includes excise duty on captive consumption of Clinker ` 108.12 Crore (Previous Year - ` 85.37 Crore)} PERSON SONN EXPENSES PERSONN EL EXPENSES Salaries, Wages, Dearness Allowance and Bonus ....................................................................... Contributions / Provisions to and for Provident and Other Funds .................................... Workmen and Staff Welfare Expenses ............................................................................................ 407.17 56.23 34.79 498.19 346.94 19.77 34.49 401.20 1,450.96 12.74 269.67 1,610.21 12.47 427.79 43.15 117.14 115.14 1,167.69 11.27 238.72 1,550.87 14.41 329.47 37.18 99.04 89.15 148.98 2009 129.16 105.12 45.58 112.01 262.71 21.66 58.89 84.85 165.40 ` Crore 2009

SCH EDULE MAN ANU CTU AND OT EXPENSES SCH EDULE - 17, MANU FACTU R I NG AND OTH ER EXPENSES

4,059.27

3,537.80

140

ACC Limited

Schedules forming part of the Consolidated Profit and Loss Account
SCH EDULE MAN ANU CTU AND OT EXPENSES SCH EDULE - 17, MANU FACTU R I NG AND OTH ER EXPENSES (Contd.) 2010 ADMI IST MIN SELLING AND OT EXPENSES ADMIN ISTRATIVE, SELLI NG AND OTH ER EXPENSES Rent ................................................................................................................................................................. Rates and Taxes {includes Wealth Tax ` 0.71 Crore (Previous Year - ` 1.27 Crore)} ..... Insurance ....................................................................................................................................................... Loading, Transportation and Other Charges ................................................................................. Discount, Rebates and Allowances ................................................................................................... Commission on Sales .............................................................................................................................. Miscellaneous expenses {Includes Loss on sale / write off of Fixed Assets (Net) - ` 39.59 Crore (Previous Year - ` 3.61 Crore)} ........................................ Provision for Bad and Doubtful Debts {Refer Note - 11B(c)} ................................................. Advertisement ............................................................................................................................................ Outward Freight Charges on Cement etc. ..................................................................................... (INC NCR DECR IN FIN ISHED GOODS AND ORK-IN-PR GRESS N-PRO (INCR EASE) / DECR EASE IN FIN ISHED GOODS AND WORK-IN-PRO GRESS Closing Stock Finished Goods ........................................................................................................................................... Work-in-Progress ........................................................................................................................................ Opening Stock Finished Goods ........................................................................................................................................... Work-in-Progress ........................................................................................................................................ Acquired year Acquired during the year {Refer Note 9(a)} Finished Goods ........................................................................................................................................... 3.23 3.23 (54.22) Share of Manufacturing and Other Expenses of Joint Ventures ......................................... TOTAL ... 0.69 6,718.26 (28.74) 6,016.59 ` Crore 2010 Debentures ................................................................................................................................................... Term Loans ................................................................................................................................................... Interest on Income Tax {Net of interest on refund ` 44.67 Crore (Previous Year - ` 20.33 Crore)} ............................................................................................................ Others ............................................................................................................................................................. Less - Adjustments for Interest Capitalised .................................................................................................................................. TOTAL ... 36.60 57.93 26.38 84.36 47.95 1.85 15.49 29.24 94.53 2009 28.99 15.97 17.58 48.20 110.74 88.08 168.96 257.04 78.86 149.44 228.30 113.30 201.19 314.49 88.08 168.96 257.04 34.53 99.48 18.61 177.97 88.23 23.64 418.78 9.46 68.85 1,125.80 2,065.35 34.90 103.93 17.92 163.40 93.49 23.12 359.78 34.73 53.17 1,092.73 1,977.17 ` Crore 2009

SCH EDULE INTERES EXPENSES NTEREST SCH EDULE - 18, INTEREST EXPENSES

75th Annual Report 2010

141

Consolidated Financial Statements

Schedules forming part of the Consolidated Balance Sheet and Profit and Loss Account and Cash Flow Statement
SCH EDULE NOT AC OUNT NTS SCH EDULE – 19, NOTES TO ACCOUNTS Prepar epara 1. Basis of Preparation (i) The Consolidated Financial Statements are prepared in accordance with Accounting Standard (AS) 21 on Consolidated Financial Statements notified pursuant to the Companies (Accounting Standards) Rules, 2006 (as amended). The Consolidated Financial Statements comprise the financial statements of ACC Limited (the Company), and its subsidiaries. The Company, and its subsidiaries constitute the ACC Group. Reference in these notes to the `Company’ or `ACC’ shall mean to include ACC Limited and/or any of its subsidiaries, consolidated in these financial statements unless otherwise stated. (ii) The list of Companies which are included in consolidation and the Parent Company’s holdings therein are as under: Compan ompany Name of the Company ercen centage Percentage Holding 2010 a. 1 2 3 4 5 6 b. 1 2 c. 1 2 3 4 Subsidiaries ACC Concrete Limited. (ACCCL) Bulk Cement Corporation (India) Limited. (BCCI) ACC Mineral Resources Limited. Lucky Minmat Limited. National Limestone Co. Private Limited. (w.e.f. April 20, 2009) Encore Cements & Additives Private Limited. (w.e.f. January 28, 2010) Associates Associates Alcon Cement Company Private Limited. Asian Concretes and Cements Private Limited.(w.e.f. April 01, 2010) Joint entur ture AC Mineral Resour esources Joint Venture of ACC Mineral Resources Limited : MP AMRL (Semaria) Coal Company Limited. MP AMRL (Bicharpur) Coal Company Limited. MP AMRL (Marki Barka) Coal Company Limited. MP AMRL (Morga) Coal Company Limited. 49% 49% 49% 49% 40% 45% 40% 100% 94.65% 100% 100% 100% 100% 100% 94.65% 100% 100% 100% 2009

Each of the above Companies is incorporated in India and financials statements are drawn up to the same reporting date as that of the parent Company i.e. December 31, 2010. (iii) The Consolidated Financial Statements have been prepared to comply in all material respect with the Accounting Standards notified by Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956. (iv) The Consolidated Financial Statements have been prepared under the historical cost convention on an accrual basis, except where impairment is made. (v) The Accounting policies have been consistently applied by the Company and are consistent with those used in the previous year. (vi) The Consolidated Financial Statements of the Company and its Subsidiary Companies have been consolidated on a line-by-line basis by adding together the book value of like items of assets, liabilities, income and expenses, after fully eliminating intra-group balances and intra-group transactions resulting in unrealized Profits/ Losses. (vii) The Consolidated Financial Statements have been prepared using uniform accounting policies for like transactions and other events in similar circumstances and are presented, to the extent possible, in the same manner as the Company’s separate financial statements. (viii) The difference between the cost of investment in the subsidiaries, and the Company’s share of net assets at the time of acquisition of share in the subsidiaries is recognised in the financial statement as Goodwill or Capital Reserve as the case may be. Goodwill is amortised over a period of ten years from the date of acquisition/investment. (ix) Minority Interest in the net assets of consolidated subsidiaries is identified and presented in the consolidated Balance Sheet separately from liabilities and equity of the Company’s shareholders. Minority interest in the net assets of consolidated subsidiaries consists of: (a) The amount of equity attributable to minority at the date on which investment in a subsidiary is made; and (b) The minority share of movements in equity since the date parent subsidiary relationship came into existence. (x) Minority interest’s share of Net Profit / (Loss) for the year of consolidated subsidiaries is identified and adjusted against the profit after tax of the group.

142

ACC Limited

actual results could differ from these estimates. The recoverable amount is greater of the asset’s net selling price and value in use. All other borrowing costs are charged to revenue. expenditure incurred including trial production expenses net of revenue earned. b) c) d) (iii) Cost of leasehold land is amortised over the period of the lease. 1956 or based on the useful lives of the assets as estimated by Management. are capitalized at cost net of Cenvat and are depreciated over the remaining useful life of the related asset. Advances paid towards the acquisition of fixed assets outstanding at each Balance Sheet date and the cost of fixed assets not ready for their intended use before such date are disclosed under Capital Work-in-Progress. 2006 (as amended). Depreciation on fixed assets is provided using the straight-line method at the rates prescribed in schedule XIV to the Companies Act. are accounted for using equity method as per Accounting Standard 23 – “Accounting for Investments in Associates in Consolidated financial Statements” notified by Companies (Accounting Standards) Rules. Capital assets whose ownership does not vest in the Company have been depreciated over the period of five years. amortisation reserve is created by amortising the cost over the number of years of the mining rights of the quarries. 75th Annual Report 2010 143 . Significant Accounting Policies Significant Accoun ounting Policies ixed (i) Fixed Assets a) b) c) Fixed assets are stated at cost of acquisition or construction less accumulated depreciation / amortisation and impairment losses if any. In assessing the value in use. whichever is higher.(xi) Investment in associates where the Company directly or indirectly through subsidiaries holds more than 20% of equity. (vi) xpenditure construc onstruction Expenditure during construction period In case of new projects and substantial expansion of existing factories. 3. (v) Borrowing Costs Borrowing Costs Borrowing costs relating to acquisition of fixed assets which takes substantial period of time to get ready for its intended use are included to the extent they relate to the period till such assets are ready to be put to use. 2. The depreciation on following assets is provided at higher rates : Assets Transit Mixer Pumps Life Useful Life 8 Years 6 Years d) (ii) a) Deprecia eciation Amortisa tisation Depreciation and Amortisation Depreciation is calculated on a pro-rata basis from the date of installation till the date the assets are sold or disposed off. Machinery spares which can be used only in connection with a particular item of Fixed Assets and the use of which is irregular. The written down value of such spares is charged to the Profit and Loss Account. Impairment Impairment The carrying amounts of assets are reviewed at each Balance Sheet date if there is any indication of impairment based on internal / external factors. (iv) Intangible Assets Intangible a) b) Computer Software cost is amortised over a period of three years using straight-line method. prior to commencement of commercial production are capitalised. In respect of quarry freehold land. on issue for consumption. Borrowing costs consist of interest and other cost that an entity incurs in connection with borrowing of funds. the estimated future cash flows are discounted to the present value at the weighted average cost of capital. which is based on the estimated tonnes of raw materials to be extracted from the reserves. Although these estimates are based upon management’s best knowledge of current events and actions. Fixed assets held for disposal are stated at the lower of net book value and net realisable value. (xii) The difference between the cost of investment in the associates and the Company’s share of net assets at the time of acquisition of share in the associate is identified in the financial statements as Goodwill or Capital Reserve as the case may be. Estima stimates Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period. An impairment loss is recognized wherever the carrying amount of an asset exceeds its estimated recoverable amount. Costs incurred to gain access to mineral reserves are capitalised and depreciated over the life of the quarry. 2006 (as amended). Previously recognized impairment loss is further provided or reversed depending on changes in circumstances. (xiii) Interest in Joint Ventures have been accounted by using the proportionate consolidation method as per Accounting Standard 27 – “Financial Reporting of interests in Joint Ventures” notified by Companies (Accounting Standards) Rules.

are accounted based on the merits of each claim. Obsolete. which are disputed by the Company. Provision for diminution in the value of long term investments is made only if such a decline is other than temporary. b) Revenue from services is recognised pro-rata over the period of the contract as and when services are rendered. esearch development Research and development Expenditure on research phase is recognised as an expense when it is incurred. 1956. c) Sales include the amount of Sales Tax / VAT refunds received / due in accordance with incentive schemes.Consolidated Financial Statements (vii) (viii) (ix) (x) (xi) (xii) (xiii) (xiv) (xv) (xvi) Investments Investments Current investments are carried at the lower of cost or fair value. Cash equivalen alents Cash and Cash equivalents Cash and cash equivalents for the purpose of Cash Flow Statement comprise cash at bank and in hand (including cheques in hand) and short term investment with an original maturity of three months or less. Cost of finished goods includes excise duty. b) Investment subsidy not specifically related to a fixed asset is credited to Capital Reserve and retained till the requisite conditions are fulfilled. Excise duties in respect of finished goods are shown separately as an item of Manufacturing Expenses and included in the valuation of finished goods. Operating lease payments are recognized as an expense in the Profit and Loss Account on a straight-line basis over the lease term. materials and other items held for use in the production of inventories are not written down below cost if the finished products in which they will be incorporated are expected to be sold at or above cost. Accoun ounting Accounting of claims a) Claims receivable are accounted at the time when such income has been earned by the Company depending on the certainty of receipts. rec ecognition Revenue recognition Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Stores & Spare Parts. Expenditure on development phase which results in creation of assets is included in Fixed Assets oreign currency transac ansactions Foreign currency transac tions Foreign currency transactions are initially recorded at the rates of exchange prevailing on the date of transactions. Inter terest Income Interest and Dividend Income Interest income is recognised on a time proportion basis taking into account the amount outstanding and the rate applicable. However. Excise duties deducted from turnover (gross) are the amounts that are included in the amount of turnover (gross) and not the entire amount of liability that arose during the year. Net realizable value is the estimated selling price in the ordinary course of business. Produc oducts Services Sale of Products and Services a) Revenue is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer. defective and unserviceable inventories are duly provided for. b. Long term investments are stated at cost. Debenture / Share issue expenses and premium payable on Debentures are adjusted in the same year of incurrence against the Securities Premium Account as permitted by Section 78(2) of the Companies Act. Government Gran ant Government Grant and Subsidies a) Subsidy receivable against an expense is deducted from such expense and subsidy / grant receivable against a specific fixed asset is deducted from cost of the relevant fixed asset. Dividend income is recognised when the shareholders’ right to receive dividend is established by the Balance Sheet date. Cost includes direct materials and labour and a proportion of manufacturing overheads based on normal operating capacity. less estimated costs of completion and estimated costs necessary to make the sale. Claims payable are accounted at the time of acceptance. Raw Materials. Opera Leases Opera ting Leases Where the Company is the lessee Leases where the lessor effectively retains substantially all the risks and benefits of ownership of the leased item. Cost is determined on a weighted average basis. b) Claims raised by Government Authorities regarding taxes and duties. Foreign currency monetary items are subsequently reported using the closing rate. are classified as operating leases. Inventories Inventories Inventories are valued as follows: a. Non-monetary items which are carried in terms of 144 ACC Limited . Cost is determined on a weighted average basis. Work-in-progress and Finished goods Lower of cost and net realizable value. Packing Materials and Fuels Lower of cost and net realizable value.

d) Payments made under the Voluntary Retirement Scheme are charged to the Profit and Loss Account immediately. The financial statements of an integral foreign operation are translated as if the transactions of the foreign operation have been those of the Company itself. and the net loss after considering the offsetting effect on the underlying hedge item is charged to the income statement. in respect of which a reliable estimate can be made. Any such write-down is reversed to the extent that it becomes reasonably certain that sufficient future taxable income will be available. Derivative Instruments Derivative Instruments As per Accounting Standard (AS) 11 – ‘The Effects of Changes in Foreign Exchange Rates’ the premium or the discount on forward exchange contracts not relating to firm commitments or highly probable forecast transactions and not intended for trading or speculation purpose is amortized as expense or income over the life of the contract. Deferred income taxes reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. Current income tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. or reported in previous financial statements. ESIC and Labour Welfare Fund are recognised as an expense in the Profit and Loss Account. as they are incurred. accounting for derivative contracts. The present obligation is revised annually based on technical estimates by internal or external specialists. Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the Balance Sheet date. Employ (xvii) Employee benefits a) Defined Contribution Plan Contribution to Officer’s Superannuation Fund. unless the possibility of an outflow of resources embodying the economic benefit is remote. Net gains are ignored. medical benefits under voluntary retirement scheme and other long term benefits in the form of leave encashment. are recognised as income or expenses in the year in which they arise. Deferred tax assets are recognised only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. silver jubilee and long service awards are determined on the basis of actuarial valuation using the projected unit credit method as at Balance Sheet date. The initial recognition of the provision for mines restoration cost comprises of the estimated costs for restoration caused by operations necessary before the raw materials can be exploited. provident fund. Actuarial gains/losses are recognized immediately in the Profit and Loss Account. 1961 enacted in India. additional gratuity. As per the ICAI Announcement. The carrying amount of deferred tax assets are reviewed at each Balance Sheet date. The Company writes-down the carrying amount of a deferred tax asset to the extent that it is no longer reasonably certain that sufficient future taxable income will be available against which deferred tax asset can be realised. are marked to market on a portfolio basis. There are no other obligations other than the contribution payable to the respective trusts.historical cost denominated in a foreign currency are reported using the exchange rate at the date of the transaction. c) Short term compensated absences are provided based on past experience of leave availed. A contingent liability is disclosed. Exchange differences arising on the settlement of monetary items or on reporting Company’s monetary items at rates different from those at which they were initially recorded during the year. Employ (xviii) Employees Stock Option Scheme The intrinsic value of option granted under Employees Stock Option Schemes is written off over the vesting period. ontingencies Pro (xx) Contingencies / Provisions A provision is recognised when an enterprise has a present obligation as a result of past event. post retirement medical benefit schemes. share (xxi) Earnings per share Basic earnings per share are calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year. Actual payments for restoration are charged directly against the provision. For the purpose of calculating diluted earnings per share. Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligation at the Balance Sheet date. 75th Annual Report 2010 145 . other than those covered under AS – 11. Restor estora Expenditur xpenditure (xxii) Mines Restoration Expenditure The Company provides for the estimated expenditure required to restore quarries and mines. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. Income taxes (xix) Income taxes Tax expense comprises of current and deferred tax. it is probable that an outflow of resources embodying economic benefit will be required to settle the obligation. the net profit or loss for the year attributable to equity shareholders and the weighted average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares. b) Defined Benefit Plan and Other Long Term Benefits Retirement benefits in the form of gratuity.

77 61.13 5.81 11.53 2.62 (57.258.84) (47.049. the organisation structure and internal reporting system.993.758. FORMA ABOU PRIMARY BUSIN OUT IMAR SEGMENTS I N FORMATION ABOUT PRIMARY BUSIN ESS SEGMENTS ement Cement 2010 VENU R EVENU E External sales Inter-segment sales re Total revenue ESUL R ESULT Segment result Segment result Unallocated corporate Income Opera Profit Opera ting Profit Interest expenses Interest and Dividend income Income Taxes Profit after Profit after tax IN FORMA OT H ER IN FORMATION Segment assets Unallocated Corporate assets Total assets Segment liabilities Unallocated corporate liabilities Total liabilities Capital expenditures Depreciation and Amortization Other non-cash expenses 824.75 8.46 2.320.30 607.966.645.05 2.074. All other inter segment transfers are at cost.19 828.04 4. Segment Policies Segment Policies The Company prepares its segment information in conformity with the accounting policies adopted for preparing and presenting the financial statements of the Company as a whole. the differing risks and returns. Segments have been identified taking into account the nature of the products.148.79 2.154.76 2.713.45 406. Inter segment transfers: Inter Segment Transfer Pricing Policy – Cement supplied to ready mixed concrete activity is based on current market prices.391.55 60.65 105. Allocation common costs Allocation of common costs Common allocable costs are allocated to each segment according to the relative contribution of each segment to the total common costs.250.38 226.90 1.560.18 8.255.97 5.020.027.81 (28.268.73 4.30 512.94 (84.66 8.297.490.47 10.442.627.16 59. Other business segment reported is Ready Mixed Concrete.52 4.13 64.204.29 1.041.375.98 20.Consolidated Financial Statements Segment Repor eporting Policies (xxiii) Segment Reporting Policies Identifica tification segments Identification of segments The Company’s operating businesses are organized and managed separately according to the nature of products and services provided with each segment representing a strategic business unit that offers different products and serves different markets.72 (341.50 8.315.63 2.75 512.36 7.80 60.81 352.362.060.90 (686.73 17.55 427.81 2.67 1.70 1.79 373.36) 75.15 7.28 110. Unallocated Unallocated items Includes general corporate income and expense items which are not allocated to any business segment.651.68) 1.95 12.72 139.40 8.550.93) 97.40 8. The analysis of geographical segments is based on the areas in which major operating divisions of the Company operate.07 4. Segment Repor eporting Segment Reporting The Company has disclosed Business Segment as the primary segment.89 8.62 8.42 1.69 7.479.20 607.36) 1.79 222. The export turnover is not significant in the context of total turnover.95 2009 Mixed Concr oncrete Ready Mixed Concrete 2010 2009 2010 Total 2009 ` Crore 146 ACC Limited .45 1.833. 4.68 134.81 2.960.79) 1.539. As such there are no reportable Geographical Segments. The Company’s operations predominantly relate to manufacture of cement.89 7.47 61.10 21.34 2.

April 01.f. P. Kuldip K. Ltd. 2010 Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Company Promoter Group Entity Natur ture Rela elationship Nature of Relationship CEO & Managing Director Managing Director Managing Director of ACC Concrete Limited Head BCCI Managing Director of Encore Cements & Additives Private Limited upto July 15. Asian Concretes and Cements Pvt. Umeswar Rao Son of Mr. (xv) Holcim (Bangladesh) Ltd. Somaraju Abbai 75th Annual Report 2010 147 . (xiv) Siam City Cement Public Company Ltd. Umeswar Rao Natur ture Rela elationship Nature of Relationship Joint Joint Joint Joint Venture Venture Venture Venture of of of of ACC ACC ACC ACC Mineral Mineral Mineral Mineral Resources Resources Resources Resources Limited Limited Limited Limited Natur ture Rela elationship Nature of Relationship Associate Company Associate Company w. (x) Holcim Trading FZCO (xi) Holcim (Lanka) Ltd. (xxi) Holcim Foundation (b) Key Management Personnel: Management Personnel: Rela elated Par arty Name of the Related Party (i) (ii) (iii) (iv) (v) (vi) (vii) Mr.f.e. (xvi) Holcim (Canada) INC (xvii) Holcim (Vietnam) Ltd.R. C M Reddy Wife of Mr. Swamy Mr. 05. 2010 Natur ture Rela elationship Nature of Relationship Wife of Mr. (v) Holderind Investments Ltd.K.08. Sudha Madhuri (ii) (iii) K. (viii) Holcim Group Support Ltd. K B S Swamy elativ tives Ke Management Personnel (c) Relatives of Key Management Personnel Rela elated Par arty Name of the Related Party (i) Ch. Prabhakar Rao (v) K. 2010 CEO & Executive Director of Encore Cements & Additives Private Limited Non Executive Director of Encore Cements & Additives Private Limited upto December 24. (vii) Holcim Services (Asia) Ltd. Hans J. Krishna Kalyan (iv) K. Fuchs Mr. (xii) P T Holcim Indonesia Tbk (xiii) Holcim Services (South Asia) Ltd.e.10) Mr.5 elated Par Disclosures arty Related Party Disclosures Rela elated parties where control exists: ontr (A) Names of the Related parties where control exists: (i) MP AMRL (Semaria) Coal Company Limited MP AMRL (Bicharpur) Coal Company Limited (ii) (iii) MP AMRL (Marki Barka) Coal Company Limited (iv) MP AMRL (Morga) Coal Company Limited (B) Others: Rela elated parties (a) Names of Related parties (i) Alcon Cement Company Pvt.B. K B S Swamy Father of Mr. Kaura (w. Ltd. Sumit Banerjee (up to 13.S. K B S Swamy Brother of Mr. K B S Swamy Brother of Mr. Sheshavadutha (vii) K.08. K. K.10) Mr. P. Reddy Mr. K B S Swamy Wife of Mr. Prusty Mr. (ii) (iii) Ambuja Cement India Pvt. (xviii) Holcim Environment Services SA.Ltd. Ramani Kumar (vi) K. M. (iv) Ambuja Cements Ltd. Belgium (xix) P T Holcim Beton (xx) Holcim Group Support (S) PTE Ltd. C. (ix) Holcim (Singapore) Pte Ltd. (vi) Holcim (India) Private Ltd. Shahikala Reddy Dr.

04 4. (ix) (x) Curren ent Outstanding balance included in Current Assets Alcon Cement Company Pvt. Holderind Investments Ltd.34 - ` Crore 2009 173. eimbursement Expenses Cost Materials Reimbursement of Expenses / Cost of Materials / Stores Paid Pa Stores Paid / Payable Alcon Cement Company Pvt.46 172. (ii) (iii) (iv) (v) urchase Coal Purchase of Gypsum and Coal Holcim Trading FZCO urchase Finished Purchase of Finished / Unfinished Goods Ambuja Cements Ltd.23 22.74 62.Ltd. Ltd.35 0.72 48. (vi) (vii) (viii) eimbursement Expenses Materials Stores Receiv eceived eceivable Reimbursement of Expenses / Cost of Materials / Stores Received / Receivable Alcon Cement Company Pvt.72 0. Receiv eceived Dividend Received Alcon Cement Company Pvt.28 10.16 36. Ltd.38 1. Ltd.Consolidated Financial Statements (D) ansactions Associate Companies (D) Transactions with Associate Companies 2010 (i) (ii) urchase Finished Purchase of Finished Goods Alcon Cement Company Pvt.38 60. Ltd. Others 199.85 67.37 1.02 0. Ltd.43 1. Ltd.35 0.00 148 ACC Limited .24 75.61 1.28 5.74 1. Ltd.74 75. Asian Concretes and Cements Pvt.81 1. Ltd.60 0.67 16.55 48.60 24.96 3.68 5.24 1.23 17.08 0. Finished Sale of Finished / Unfinished Goods Ambuja Cements Ltd. Asian Concretes and Cements Pvt.86 0. Ltd.34 3.34 7.23 1.08 83.02 1.86 4.74 23.35 1. Ltd.34 - ansactions rela elating Promoter Group Companies (E) Details of Transactions relating to Promoter Group Companies 2010 (i) Dividend paid Ambuja Cement India Pvt. Services Rendering of Services Alcon Cement Company Pvt. Finished Sale of Finished / Unfinished Goods Alcon Cement Company Pvt.01 7.62 0. Ltd.81 36.01 0.85 26. urchase Stores Spares Purchase of Stores & Spares Ambuja Cements Ltd.08 62.23 60. Others (iii) (iv) (v) es) Shares Associates Investment Investment in Associates (Acquisition of Equity Shares) Asian Concretes and Cements Pvt. 5.55 83.43 ` Crore 2009 67.40 1.37 5. Ltd.80 22. Services Receiving of Services Alcon Cement Company Pvt.58 7.40 26.61 5.04 3.64 0.62 5. Curren ent Outstanding balance included in Current Liabilities Alcon Cement Company Pvt.48 198.

14 0. Raw material Sale of Raw material & other items Holcim (Bangladesh) Ltd.98 0.45 1.40 7.45 75th Annual Report 2010 149 .28 4.96 2.74 0.46 12.00 1.88 0.05 0.55 6.69 2. Ambuja Cements Ltd.22 48.49 3.26 36. Holcim (Bangladesh) Ltd.30 3.67 0.05 17.63 1.07 0.25 0.28 0.05 0.43 2.04 2. Holcim Services (South Asia) Ltd.ansactions rela elating Promoter Group Companies (E) Details of Transactions relating to Promoter Group Companies (Contd. Holcim Environment Services SA Belgium (viii) (ix) Services Rendering of Services Ambuja Cements Ltd.03 2. Holcim Trading FZCO Holcim (Bangladesh) Ltd.25 24.87 ` Crore 2009 0. Curren ent Outstanding Balance Included in Current Assets Holcim Services(South Asia) Ltd. Others 3.11 0.) 2010 (vi) (vii) Stores Spares Sale of Stores & Spares Ambuja Cements Ltd.46 0. P T Holcim Beton (x) eimbursement Expenses Receiv eceived Receiv eceivable Reimbursement of Expenses Received / Receivable Ambuja Cements Ltd.) Receiving of Services (Training / Technical Consultancy etc.88 0.55 22.16 2. eimbursement Expenses Paid Pa Reimbursement of Expenses Paid / Payable Ambuja Cements Ltd.42 1.38 4.16 0.00 1.38 0.07 3.02 0.) Holcim Group Support Ltd.32 3.12 0.70 0.16 6.28 0. Others (xiv) Curren ent Outstanding Balance Included in Current Liabilities Holcim Group Support Ltd.56 0.01 23.06 0. Holcim Services (South Asia) Ltd. Others (xi) Services (T Consultancy etc.46 0.05 13. Others (xii) (xiii) Services Rendering of Services Holcim Group Support (S) PTE Ltd. Holcim Trading FZCO Ambuja Cements Ltd.90 0.09 0.

M.61 0.21 0.58 0.01 0.02 0.10) Mr.01 0.04 0.45 1.41 0.10) Mr.01 0. C.02 0. P. M.86 1.f. Sumit Banerjee (up to 13.01 0. M.41 1.40 2.B. K.83 1.10 0.S.54 1.00 ` Crore 2009 ` Crore 2009 - year taken Deposit taken during the year repaid year Deposit repaid during the year Inter terest year Interest paid during the year at year Closing balance of Deposit at the end of year 150 ACC Limited .64 0. Kaura (w.S.03 0.e. Kuldip K.B. P. C. Umeswar Rao Mr. Reddy ansactions rela elating referred eferr (C) abov (G) Details of Transactions relating to persons referred to in item (C) above 2010 Unsecured Loan repaid during the year Interest paid during the year Unsecured Loan balances as at end of the year ansactions Joint entur Companies ture (H) Details of Transactions with Joint Venture Companies 2010 Advances given Advances given MP AMRL(Semaria) Coal Company Limited MP AMRL(Bicharpur) Coal Company Limited MP AMRL(Marki Barka) Coal Company Limited MP AMRL(Morga) Coal Company Limited eimbursement expenses Reimbursement of expenses MP AMRL(Bicharpur) Coal Company Limited MP AMRL(Marki Barka) Coal Company Limited MP AMRL(Morga) Coal Company Limited Outstanding balance MP AMRL(Semaria) Coal Company Limited 1.02 1. P.13 0. K.40 2. Umeswar Rao Mr.13 0.03 ` Crore 2009 4. Reddy Mr.11 5. Reddy Mr. Swamy Mr.08.01 0. Swamy Mr. 05.Consolidated Financial Statements ansactions rela elating referred eferr abov (F) Details of Transactions relating to persons referred to in item (b) above 2010 emunera Remunera tion (i) (ii) (iii) (iv) (i) (ii) (i) (ii) (iii) (i) (ii) Mr. Umeswar Rao Mr. Hans J. C.29 0.03 0.41 0.01 0.19 0.08. Fuchs Others Mr.

16.37) 0.59 (13.77.185 (II) Weighted average number of equity shares for Earnings per Share computation 10.00 83.98 10.76.12 0.23) 1.077.61.40 Crore (Previous Year .37) (0.50 6.60 1. Benefits under Post Employment medical Benefit plans are payable for actual domiciliary treatment / hospitalization for employees and their specified relatives.11.94 6. ` Crore Gratuity Post Employment Medical Benefits(PEMB) Non Funded Funded I 1 2 3 4 5 6 7 8 rec ecognised Statemen tement Profit Loss for Expense recognised in the Statement of Profit & Loss for the year ended December 31.6.10 Crore).03) 17.276 ` Crore 2009 1. Employ Employee Benefits: a) b) Defined Contribution Plans – Amount recognised and included in Schedule 17 “Contributions / Provisions to and for Provident and Other Funds” of Profit and Loss Account ` 7.08. 2010 The Company has a defined benefit gratuity and post employment medical benefit plans as given below: i.15 1.47 (9.549 18.53 18.84 2.011 18.23 0.19) 14.727 4. onsolidated Earnings Share [EPS] Consolidated Earnings per Share .` 8.22 (5.00 57.18) (0. Defined Benefit Plans – As per actuarial valuation on December 31. The scheme is funded with insurance companies in the form of a qualifying insurance policy.14 7.29) 21.27 1.23) (4.41) (0.97. Every employee who has completed minimum five years of service is entitled to gratuity at 15 days salary for each completed year of service.174 4.37) (5.81.19) 75th Annual Report 2010 151 . 2010 Current Service cost Interest Cost Employee Contributions Expected return on plan assets Net Actuarial (Gains) / Losses Past service cost Settlement / Curtailment (Gain) Total expense 5. ii.32 83.81.49 (0.25) (2.96) (7.563.39 57.[EPS] 2010 (I) Net Profit as per Consolidated Profit and Loss Account Shares for Basic Earnings per Share Add: Potential equity shares on account of ESOS Number of Shares for Diluted Earnings per Share (III) Earnings per Share Face value per Share Basic Diluted ` ` ` 10.44.04 1.11 (19.13 (7.91 18.96 6.

55 (18.90) (31.28) (3.86) (13. 2010 Present value of Defined Benefit Obligation at beginning of the year Current Service cost Interest Cost Settlement / Curtailment (Gain) Past service cost Employee Contributions Actuarial (Gains) / Losses Benefit Payments Present value of Defined Benefit Obligation at the end of the year 102.87 (0.90 7.13 17.50 6.86) (41. 2010 rec ecognised at Present value of Defined Benefit Obligation Fair value of plan assets Funded status {Surplus / (Deficit)} Net asset / (liability) (118.41) (0.96) (1.Consolidated Financial Statements ` Crore Gratuity Post Employment Medical Benefits(PEMB) Non Funded Funded II 1 2 3 4 Net Asset / (Liability) recognised in the Balance Sheet as at December 31.60 1.75) (2.84 2.38) 2.94 6.07) (2.28 3.75) (41.98 10.36 31. 2010 Plan assets at the beginning of the year Settlements Expected return on plan assets Contributions by Employer Actual benefits paid Actuarial Gains / (Losses) 96.65) 118.91 - 152 ACC Limited .61 10.55 102.30 5.65) (5.90 31.50 (13.50 84.04 1.96 6.18 0.04) 41.90 96.55) (102.12 0.61) (2.38) (13.80) (16.15 1.16 1.49 (2.44 0.61 IV 1 2 3 4 5 6 year Change in Assets during the year ended December 31.65) (5.19) (4.75 3.28) (3.36 124.21) 0.61) III 1 2 3 4 5 6 7 8 9 Obligation year Change in Obligation during the year ended December 31.90) (31.18) (0.75 39.25) (0.23 0.47 (9.96 7.36) 104.23) (4.37) (0.03 3.

a.92) VI ect percen centage point Effect of One percentage point change in the assumed Inflation ra Medical Inflation rate Increase / (Decrease) on aggregate service and interest cost of Post Employment Medical benefits Increase / (Decrease) on Present value of Defined Benefit Obligation as at December 31. for 5 years and thereafter 8% p. needs to be treated as defined benefit plan.33 7. promotion and other relevant factors. seniority. (P.28 0. considered in actuarial valuation.06 at As at December 31.` Crore (0. During the previous year.` Crore percen centage One percentage point decrease point decrease in Inflation Medical Inflation Cror ore rate . Post employment defined benefit plan expenses are included under personnel expenses in Profit and Loss Account.Y.Y. Basis used to determine expected rate of return on assets: The expected return on plan assets is based on market expectation.a.e. Mortality for annuitants LIC (1996-98) ultimate 5% p. – 7. The Fund does not have any existing deficit or interest shortfall. The Company expects to contribute ` Nil to Gratuity fund in the year 2011. In regard to any future obligation arising due to interest shortfall (i.a. take account of inflation. at the beginning of the period.90 96.28) (0.24) (0.) 12% p.a. d) 75th Annual Report 2010 153 . (Figur igures pertains pre year) (Figures in italics per tains to previous year) c) The Guidance issued by the Accounting Standard Board (ASB) on implementing AS-15.94 - - 100% percen centage One percentage point increase point increase in Inflation Medical Inflation Cror ore rate .82) (0. The Gratuity Scheme is invested in Life Insurance Corporation (LIC) of India’s Group Gratuity-cum-Life Assurance cash accumulation policy and HDFC Standard Life’s Group Unit Linked Plan .For Defined Benefit Scheme.` Crore Gratuity Post Employment Medical Benefits(PEMB) Non Funded Funded 7 8 V Plan assets at the end of the year Actual return on plan assets categories percen centage The major categories of plan assets as a percentage of total plan Qualifying Insurance Policy 104.32 0.Y. – 5% p. (P. – 8% p. (P.a. pursuant to amendments in Post Employment Medical Benefits scheme the Company had recognised curtailment gain of ` 2. which requires interest shortfall to be met by the employer. such as supply and demand in the employment market.a. pending the issuance of the Guidance Note from the Actuarial Society of India.) VII VI I 1 2 3 4 5 6 Actuarial Actuarial Assumptions: Discount Rate Expected rate of return on plan assets Mortality pre-retirement Mortality post-retirement Employee turnover rate Medical premium inflation Indian assured lives Mortality (1994-96) (modified) ultimate. 2010 0.a. for returns over the entire life of the related obligation.93 1. Government interest to be paid on provident fund scheme exceeds rate of interest earned on investment).50 8.a.25% p.) 8% p. e) f) g) h) The estimates of future salary increases. Employee Benefits (revised 2005) states that provident funds set up by employers.18 Crore. 2010 8% p. the Company’s actuary has expressed his inability to reliably measure the same.

90 (39.84) (14. Dumpers. There are no restrictions imposed by lease arrangements. There are no subleases.16) (39.65 9. 2.01) N.96) 2008 (10.A.40) (17. (6.74) N. (iii) There is no escalation clause in the lease agreement. (iv) At the expiry of the lease term.75) N.36) 96. Computers and other related equipments.A.` 64. Opera Lease Operating Lease a) Future Lease Rental payments ` Crore 2010 (i) Not later than one year 66. 3.19 Crore (Previous Year .74) (26.91) (5.44) (10.A.04 (41.28) (2.20) 2009 (3.29) 0. (6. Cranes and Tippers. Cars.30) 84.18) (10.61) N.90) (41.07) N.03 8.65) (0.14) 2007 (17. (0.37 2009 28.33 2006 (14.A.90) N.31) 57.12 (24.A. the Company has an option either to return the asset or extend the term by giving notice in writing.18) N.07) (31.75) (31. (0.A.72 - (ii) Later than one year and not later than five years (iii) Later than five years b) c) Operating Lease payment recognised in the Profit & Loss Account amounting to ` 77. Godowns.83) 6.90 (13. 9.50 Crore) General description of the leasing arrangement: (i) Leased Assets: Grinding facility. (ii) Future lease rentals are determined on the basis of agreed terms.52 2007 (26.54) 2009 (102.67) 2009 (31.50 (5.40) N.41) 74.74) 2008 (124. (2.86) (0. (7.84) N.31) (118.15 191.A.55) 104. Flats.83) 2008 (39.67 ` Crore 2006 (86. (3. 154 ACC Limited . 4.A.49 179.16) N.30 (29.35 2007 (98.28) N.40) (0.Consolidated Financial Statements i) Amounts for the current and previous four years are as follows: (i) Gratuity (Funded) 2010 Defined benefit obligation Plan assets Surplus / (deficit) Experience adjustments on plan assets Experience adjustments on plan liabilities (ii) Gratuity (Non funded) 2010 Defined benefit obligation Plan assets Surplus / (deficit) Experience adjustments on plan assets Experience adjustments on plan liabilities (iii) Post Employment Medical Benefits 2010 Defined benefit obligation Plan assets Surplus / (deficit) Experience adjustments on plan assets Experience adjustments on plan liabilities (2.94 53.96) 2006 (31. Locomotives.61) (3.A.A.A.

Limited for a total consideration of ` 16.17 Crore (Previous Year – ` 147. Guarantee/s given to Banks/Financial Institutions. a Company engaged in manufacturing of various grades of cement. Movement of provision during the year as required by Accounting Standard 29 : Mines Restoration Expenditure ` Crore 2010 Opening provision Add: Provision during the year Less: Utilisation during the year Closing provision 9. 75th Annual Report 2010 155 . During the year the Company has been allotted 47.24 Crore.81 Crore. Sales Tax. a Company engaged in mining of limestone. During the year the Company has acquired 45% stake in Asian Concretes and Cements Private Limited for a total consideration of 36.46) 12.000 equity shares for a total consideration of ` 4.78 Crore.72 (0.000 1% Cumulative Redeemable Preference Share for a total consideration of ` 100 Crore in its wholly owned subsidiary ACC Concrete Limited. c) The Company had filed petitions against the orders / notices of various authorities demanding ` 155.` 50.72) 9.98 3. During the previous year the Company subscribed to 10.00. During the previous year the Company subscribed to 4. The Company has conducted studies to establish the quantity of Limestone consumed in the manufacture of Clinker at this plant and royalty payments towards Limestone are in accordance with such consumption ratios.10 (0.96 Crore) towards payment of additional Royalty on Limestone based on the ratio of 1.90 Crore in its wholly owned subsidiary ACC Mineral Resources Limited.. The actual expenses may vary based on the nature of restoration and the estimate of restoration expenditure. 11.37 Crore (Previous Year– ` 40. The Company holds the view that the payment of royalty on limestone is correctly made based on the actual quantity of limestone extracted from the mining area. The Company has also received a demand resulting in a liability of ` 45.98 3. g) Movement pro year requir equired Accoun ounting Standard 10.58 Crore (Previous Year . a Company engaged in manufacturing and supply of ground slag.62 2009 6. a wholly owned subsidiary of ACC Limited has entered into four Joint Venture agreements with Madhya Pradesh State Mining Corporation Limited for mining of Coal in the state of Madhya Pradesh and Chattisgarh.24 Crore). for a total consideration of ` 0. A) ontingen tingent Pro For Contingent Liabilities Not Provided For – a) b) Indemnity.98 Mines restoration expenditure is incurred on an ongoing basis and until the closure of the mine. the Company does not expect any liability in these matters.00.6 tonnes of Limestone to 1 tonne of Cement produced at its factories in Madhya Pradesh and Chattisgarh and on cement produced vis a vis consumption of limestone at its factory in Tamil Nadu.507 shares in Moira Madhujore Coal Ltd.18 Crore) towards payment of additional Royalty on Limestone based on the ratio of 1.90. Excise Duties & Other Dues ` 66.4 tonnes of Limestone to 1 tonne of Clinker for one of its plant in the state of Karnataka. In respect of item (b) future cash outflows in respect of contingent liabilities are determinable only on receipt of judgments pending at various forums / authorities. During the previous year ACC Mineral Resources Ltd. Acquisitions / Subscriptions a) b) c) d) e) f) During the year the Company has acquired 100% stake in Encore Cement and Additives Private Limited for a total consideration of ` 11.67 Crore). During the previous year the Company has acquired 100% stake in National Limestone Company Pvt. The Company plans to carry out mining activities through a joint venture Company.35 Crore. In view of these demands being legally unjustifiable.21 Crore (Previous Year – ` 132.9. Government Bodies and others ` 157. During the previous year the Ministry of Coal allocated a coal block in the state of West Bengal to a consortium in which the Company is a member.

37) {Previous Year . The Company had also provided an amount of ` 7 Crore towards interest. stipulating that the incentive is admissible only for the incremental amount over the base revenue and production.76)} ` 7.` 3. However.` 1. However. Accordingly. The Government has since accepted the verdict and has disbursed ` 45.73 Crore (SAR 0.96 Crore (USD 0.20 Crore (EUR 0. Further.02)} 156 ACC Limited .35 Crore was withheld on the ground that Gagal II is not a new unit but is an expansion of an existing unit.44 Crore as Sales Tax / VAT subsidy receivable from the State Government.05)} ` 1.10 Crore (CHF 0. 1994. during the year.Consolidated Financial Statements d) B) a) Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) ` 259. Pursuant to incentives available under a State Industrial Policy in respect of one of its cement plants.04 Crore @ Closing rate of 1 EUR = ` 67. the Company accrued the subsidy claim (including subsidy on clinker) aggregating ` 80.04 Crore (SAR 0. the Company had received a demand notice from the Government of Himachal Pradesh asking for refund of the subsidy already remitted. The Company is in appeal before the Himachal Pradesh High Court against the decision of the HP Tax Tribunal on this matter. the Company’s writ before the Jharkhand High Court for recovery of the eligible amounts from the Government Authorities has been admitted. During the year. In this respect. the Supreme Court confirmed the eligibility of Gagal II to receive transport subsidy as claimed.33 Crore (Previous year – ` 662. c) 12.15 Crore @ Closing rate of 1 CHF = ` 48. Therefore. since the payments / reimbursements were not forthcoming. 1971. provided for an amount of ` 29. such restrictive conditions cannot be imposed on it as per the Industrial Policy. b) The Company had availed Sales-tax incentives in respect of Gagal II under the HP State Industrial Policy. 1991.65 Crore (Previous year – ` 80.75 Crore @ Closing rate of 1 USD = ` 45.43) {Previous Year .` 2.44 Crore by charge to Profit and Loss Account and adjusted the Capital Reserve Account to the extent of the Capital Investment Subsidy. The Company accrued Sales-tax incentives aggregating ` 56 Crore (Previous year – ` 56 Crore).15 Crore relating to transport subsidy on Clinker. the Sales tax authorities had introduced certain restrictive conditions after the commissioning of the unit. which is also written back during the year.55) {Previous Year . The Company was entitled to receive Transport Subsidy against actual expenditure on freight incurred for a period of five years in respect of its new 1 MTPA plant at Gagal (Gagal II). management believes there is a material shift in the merits in favour of the Company in the Sales-Tax incentives case. During the year. and in an earlier year. which the Company intends to pursue).83 Crore (EUR 0.02 Crore (USD 0. which went into commercial production on September 15.` 7.18 Crore @ Closing rate of 1 CHF = ` 45.88 Crore (CHF 0.30 Crore @ Closing rate of 1 SAR = ` 12. management considered it prudent to create a provision against the amounts receivable.65 Crore) up to September 1999.19 Crore (leaving out an amount of ` 1.15) {Previous Year . Company contends that Gagal II being a new unit.05 Crore). No further accruals of the subsidy have been made for the subsequent period though the Company continues to lodge its claims with the authorities. the Company has written back ` 56 Crore which was provided as a measure of abundant caution in earlier years. Consequent to the decision during the year of the Supreme Court in the Transport Subsidy case and acceptance by the Central Government in that case that Gagal II is a new unit.04 Crore @ Closing rate of 1 USD = ` 46.83 Crore @ Closing rate of 1 SAR = ` 12.02 Crore @ Closing rate of 1 EUR = ` 60. and thereby not eligible for subsidy under Transport Subsidy Scheme. by rejecting the appeal of the Union of India against the orders of the High Court of Himachal Pradesh (single bench in Aug 2003 and Division Bench in April 2008) which had confirmed that Gagal II was a new unit and consequently eligible for Transport Subsidy.50)} ` 34. the Company had preferred claims and till Dec 2008 accrued ` 15 Crore on account of Capital Investment Subsidy and ` 29. the Company had received part disbursement and the balance of ` 46. a) Par articulars for oreign currency exposur xposure at date Particulars of unhedged foreign currency exposure as at Balance Sheet date Particulars Export Debtors Creditors Amount ` 10.

Palia Naresh Chandra Naresh Chandra Markus Akermann Markus Akermann L. M. Pvt.f. S. 2010 The effect of the operations of these entities on the results is not significant.e. April 01. Previous year’s figures have been regrouped / restated wherever necessary to make them comparable with current year’s figures. 2010. 15.000 1 1 3.500 Import of Capital items Number of Contracts Buy Amount Purpose Import of Capital items 13.` 60. N.R. 2009). Mehrotra R. M.990 88. January 28. (b) The Board of Directors have recommended payment of final dividend of ` 20. Shah Shailesh Haribhakti Lynam Aidan Lynam } Directors 75th Annual Report 2010 157 .f. would have been higher by ` 71. Sales of Products and Services include Sales Tax incentive of ` 7. Obsolescence of spare parts is now determined with respect to the actual usage pattern. 101049W Chartered Accountants per Sudhir Soni Partner Membership No. c.f.e. 16.12 Crore (Previous Year .00. Nayak Kuldip Kaura CEO & Managing Director Chief Financial Officer D. the Company changed its basis of identifying obsolescence of spare parts.67 Crore (Previous Year . Burjor D. Sekhsaria Chairman Hugentobler Paul Hugentobler Deputy Chairman Kaur aura Nay Sunil K.11. 2011 S. 2010 Investment in subsidiary National Limestone Co. 17.e. 41870 Mumbai. 14. b. Narula Mehrotr otra D. an amount of ` 71. Total dividend together with the interim dividend paid earlier aggregates to ` 30. Accordingly.50 per share. L. the profit before tax for the year and the closing inventory of spare parts as at the year end. During the year. Batliboi Associates For S. A.` 9.16 Crore. Batliboi & Associates Firm Registration No. 18.b) for ard contrac orw ontracts at year are follow ollows:The details of forward contracts outstanding at the year end are as follows:Currency EUR EUR O 2010 2009 USD 2010 2009 2 66. Nariman Company Secretary Palia S. The Consolidated results for the year ended December 31. K. Had this change in basis not been made. 2010 are not comparable with the previous year. April 20.74 Crore) payable to the Industrial Development Corporation of Orissa Limited (IDCOL) in eight equal annual instalments without interest or penalty.16 Crore is recognized under repairs to machinery in schedule 17 as a write down for the year (including ` 47.42. S.50 per equity share. due to following : a. Limited w.51 Crore). As per our report of even date For and on behalf of the Board of Directors of ACC Limited. 2009 Investment in associate Asian Concretes and Cement Private Limited w. Figures pertaining to the subsidiary companies have been reclassified wherever necessary to bring them in line with the Parent Company’s Financial Statements.36 Crore pertaining to the period until December 31. Investment in subsidiary Encore Cements and Additives Private Limited w.R. The fourth instalment was due for payment on December 22. (a) Deferred Payment Liability included in “Unsecured Loans – Schedule 4” comprises of ` 8. February 03.50 per share which is inclusive of an one-time special Platinum Jubilee dividend of ` 7.

.................................................... Ltd................................................. 6................................. ACC Mineral Resources Limited ..51) (0......................................68 (0........................73 (1...........................43 1......................................81 0........16 (0............................................ Limited ....................46 (0........ Lucky Minmat Limited .... 1.......rata share of Minority shareholders interest in the Net Worth of Subsidiary Companies ............................ National Limestone Co......................68 0....................................................17) 3.60 (138.......72 0.......................................95 26............................... ACC Group’s Net Profit ........................................42 240....................................... Less: ACC‘s share in pre-acquisiton Net Worth of Subsidiary Companies Less: Amortisation of Goodwill in Subsidiary Companies .... Add: Pro-rata share of profits / (losses) of Subsidiaries Bulk Cement Corporation (India) Limited ..............01) (8.... Pvt........................................40 242................... Limited .........97 158 ACC Limited .68) 1..............................07 2009 6........... Less: Other adjustments (Net) .................57 55........................................................08) (46.................03 5.....016............. 2010 ` Crore 2010 ACC‘s Net Profit .......... Limited ...................563.077..................... 2010 ` Crore 2010 ACC‘s Net Worth ......... Add: Pro-rata share of profit of Associates .................................................... Add: Increase in Net Worth of Asian Concretes & Cements Pvt......................06) (48.. Lucky Minmat Limited .........................02 (0.................24) (35............................................. Less: Unrealised profit on purchase of Fixed Assets ......................91 CONSOLIDATED GROUP NET WORTH AS AT DECEMEBR 31.....53 (9.49 43..........40 2.............. ACC Mineral Resources Limited .........39 (29...........53) 1................. ACC Concrete Limited ...............................02 9...Explanatory Statement CONSOLIDATED GROUP OPERATING RESULTS FOR THE YEAR ENDED DECEMEBR 31.................... National Limestone Co..................07 6............. Less: Amortisation of Goodwill on acquisition of Subsidiary and Investment in Associates ....11) (0...... Limited ....................................................................... Less: Unrealised profit on purchase of Fixed Assets ....................................868..37) 16........ Pvt.....................45 2............02 1...........................................................................................85 4................................ ACC Concrete Limited ................469...........606......53) 1.......40 (173......................00 (1......................................... Less: Dividend received from Associates ................48 (0......................... Encore Cements and Additives Pvt........................................................120..08) 9...........54 2009 1...............................50 0.......88 2...............92 2............................. ACC Group’s Net Worth ...................................................................................................90) 0...........................................16) (0........................................................................ .... Ltd....22 43....08) (6..280. Less: Pro.......................68 4................................................. Encore Cements and Additives Pvt..06) 6........... Add: Increase in Net Worth of Alcon Cement Company Pvt.......01 0.............. Less: Minority Interest of Subsidiary (BCCI) ..59) 3.................. .............Consolidated Financial Statements Consolidated Group Operating Results and Net Worth .......07 106.......04) (0........42) 69............................................03) 0....... Add: Net worth as per Balance Sheet of Subsidiary Companies Bulk Cement Corporation (India) Limited .......................

............ Loss before Tax .. Depreciation .. OPERA 2..........104 19 (2.................. FUTU R E OUTLOOK The concrete market is expected to grow by ~15% in 2011 with overall penetration levels still being very low at ~6%..... DIR ECTORS The Board of Directors has appointed Mr......681) (14.. Loss before Depreciation..... Interest and Tax .. Kuldip Kaura as an Additional Director with effect from October 19.587) 2.. As an Additional Director.. 2010.371) DIVIDEN DEND 3.. Loss after Tax ... DIVIDEND Your Directors do not recommend any dividend for the financial year ended December 31.. The recessionary effect of 2009 in the real estate market was reversed and the RMX market showed a growth of ~15% largely fuelled by an increase in demand from all sectors and in particular in the realty sector........... The Company continued to focus on consolidating its position..502 (2........ New locations adopted low capital cost routes through dedicated on-site and collaboration opportunities........ The number of operational plants increased marginally from 44 to 48 by the end of the financial year..911) (2... 2010. The Company is well positioned to undertake large infrastructure contracts........ his candidature for appointment as a Director is included at Item 4 of the Notice...... leveraging in-house and Holcim expertise in adding value to customers of this segment and has been supplying RMX to major infrastructure projects. Mr..... 61.............88 crores in 2010 through customer focus initiatives...... Balance brought forward from Previous Year ... Interest ........ competition within the RMX market remains strong with cement players looking to forward integrate as well as on account of an increasing number of smaller players entering the market. Kuldip Kaura holds office up to the date of the ensuing Annual General Meeting......... OPERAT IONS During the year.. systematic management of costs and productivity improvements........... ESUL NANCIAL RESU FINANC 1...........111 (788) 2. by increasing volumes from its existing assets and therefore expansion remained curtailed. Target market penetration and segment specific offerings will assist the Company in mitigating pressures of increased competition. 75th Annual Report 2010 159 ...690) (9................. 2010......... The Company continued to focus on organisational capability development and is well placed to add value and expand in the future as the market continues momentum through the government infrastructure spending programme and increase in demand from the commercial and real estate sectors.87 crores in 2009 to ` 7... The growth was driven by consumption in most of the major markets..................... the Company showed a marked improvement in its working over the previous year with a growth of 19% in volumes.....371) (17...... DIR ECTOR ORS 5....Directors’ Report TO THE MEMBERS OF ACC CONCRETE LIMITED The Directors have pleasure in presenting the Fourth Annual Report of the Company along with the audited Accounts for the year ended December 31.......097 5 (4... Accordingly...... Fringe Benefit Tax ...........911) (14........ FINANCIAL RESULTS (` Lacs) LARS PART ICULAR PART ICU LAR S For the year ended December 31..... However....689) 1 (4...282) 51........ 2009 Operational EBTIDA losses were reduced from ` 25.. Balance carried to Balance Sheet For the year ended December 31..... 2010 Sale of products and services & Other income . OUT 4.....

Chartered Accountants who are the Statutory Auditors of the Company. hold office up to the date of the ensuing Annual General Meeting and are eligible for re-appointment. 1956 read with Companies (Particulars of Employees) Rules. 1988.. 2010. ERG ENER ONSERV CONSER LARS ART ICULAR 7. 2010 and of the loss of the Company for the year ended on that date. The Members are requested to appoint M/s. K. Aiyar & Co. if made. K. Sumit Banerjee resigned from the Board of Directors with effect from August 13. if any. Sunil Nayak. Earnings oreign Ex Foreign Exchange Earnings and Outgo ` Lac Foreign exchange earned Foreign exchanged outgo 8.. retires by rotation and is eligible for re-appointment. for the appointment and terms of remuneration of Mr. 160 ACC Limited echnology Technolog y Innov Innovation Absorption. as it is not a scheduled industry under Section 217 read with Rule 2 of Companies (Disclosure of Particulars in the Report of Board of Directors) Rules. DIR ECTORS RESPONSIB I LITY STATEMENT To the best of their knowledge and belief and according to the information and explanation obtained from them. Banerjee as Director of the Company. the Company has obtained written confirmation from M/s. The Board has placed on record its appreciation of the valuable services rendered by Mr. Adaptation Adapta tion and The Company has not acquired any technology for its manufacturing process. Fuchs detailing therein his terms of appointment and remuneration. Chartered Accountants as Auditors of the Company for the year 2011.S. 2010. ST ORS ESPONSI DIRECTOR RESPONSIB 9. As required under the provision of Section 224(IB) of the Companies Act. your Directors make the following statement in terms of Section 217(2AA) of the Companies Act. would be in conformity with the Companies Act. 1956. c) that proper and sufficient care has been taken for the maintenance of adequate accounting 460 . 1956. Aiyar & Co. 1975 as amended regarding employees is given in Annexure A to the Directors’ Report. However. S. PART ICU LAR S OF CONSERVAT ION OF EN ERG Y. K. Hans Fuchs. ORS DITOR 6. The Company has set up various processes and procedures to ensure optimum energy utilization.Subsidiary Financial Statements Mr. Ministry of Commerce & Industry. AU DITORS M/s. In accordance with the provisions of the Companies Act.S. b) that such accounting policies as mentioned in Note 1 of the Notes to Accounts have been selected and applied consistently and judgments and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at December 31. CH NOLO AND FOREIGN EX T E C H NOL O G Y AN D FOR EIGN E X C HANGE ARN AND OUT EARN I NGS AND OUTGO Energ Conser onserv Energ y Conservation The Company is not required to disclose particulars relating to conservation of energy. Managing Director. Aiyar & Co. Pursuant to the approval received from the Government of India. that their appointment. the Company has entered into an agreement with Mr. the technology adopted and applied is the latest technology available in the Industry. 1956 Mr. the applicable accounting standards have been followed along with proper explanation relating to material departures. 1956 a) that in the preparation of the annual accounts for the year ended December 31. PARTICULARS OF EMPLOYEES ARTICULAR LARS EMPLO Information in accordance with the provisions of Section 217(2A) of the Companies Act.

1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. ACKNOWLEDGEMENT 11. Mumbai 400 020. DattaGupta Mr. AU DIT COMITTEE In compliance with the provisions of Section 292A of the Companies Act. an Audit Committee of the Board has been constituted which is composed of: Mr. AC KNOWLEDGEMENT The Directors wish to convey their appreciation to their bankers. The Directors also thank all the employees of the Company for their valuable service and support during the year. COMITTEE 10. Sunil Nayak Director 75th Annual Report 2010 161 . the holding Company. for its continued trust and support. customers and other business associates for the excellent assistance and cooperation received and to ACC Limited. Sunil Nayak (Chairman) Mr. Maharshi Karve Road. Ramit Budhraja During the year under review four Audit Committee Meetings were held. 1956. d) the annual accounts have been prepared on a going concern basis. 121.records in accordance with the provisions of the Companies Act. For and on behalf of the Board of Directors Hans Fuchs Managing Director Mumbai: February 1. J. 2011 Registered Office: Cement House.

(Civil) 29.753 CA 10-Oct-08 1-Jan-08 21-Jan-08 19-May-08 21 27 37 27 43 49 62 45 Larsen & Toubro Limited ACC Limited Ashok Leyland PT Hocim Indonesia TBK(HIL) 7 8 Kulkarni Anil Mani S Narayanan Area Business Head General Manager – Credit Control Regional Business Head Chief People Officer Head Marketing & Innovation Head Business Development Head Corporate HR & OD Head – HR Operations Area Business Head Head Procurement 1-Jan-08 1-Jan-08 15 34 40 59 ACC Limited ACC Limited 9 10 11 12 13 14 15 16 Malhotra Sumit* Dr.34.96.E.291 BME. Maharshi Karve Road.23. 1975 Direc ectors’ Repor for eport year forming part and forming part of Directors’ Report for the year ended December 31. No.(i) (ii) (iii) (iv) (v) Gross Remuneration shown above is subject to tax and comprises salary.PGDHRM 41. ACC Limited Home Solutions Retails India Ltd Trent Limited Dangote Group Asian Paints Notes :.E.457 B. The nature of employment in all cases is contractual.Sc. incentive.64.10.547 M.16.572 B.E. PGDM 26.PHD 1. LLB 30.961 B. 2010. 2011 Registered Office : Cement House.70.MTECH. Name Designation & Nature of duties Regional Business Head Head – Technical Services & Support Regional Business Head Chief Financial Officer Head-Training & Development Managing Director Remuneration Qualification Gross ` Date of Commencement of Employment 1-Jan-08 01-Feb-10 Total Experience (years) 26 21 Age in Years Last Employment 1 2 Banchhor Anil Bonde Girish * 44. 121.E.Subsidiary Financial Statements Annexure ‘A’ to Directors’ Report (Para 8) Statemen Pursuan tement ursuant Section Companies Act.M. 1956 read with Companies (Particulars of Employees) Rules. monetary value of perquisites.92.14. Statement Pursuant to Section 217(2A) of the Companies Act. employees are entitled to gratuity in accordance with the Company’s rules.985 MBA 23-Jan-08 1-Oct-08 11-Nov-09 1-Jan-08 3-Mar-08 4-May-09 4-Jul-08 28-Nov-08 26 18 17 21 22 16 35 17 49 40 42 44 45 36 56 41 Demat Trading LLC Shopper’s Stop Limited NITCO Ltd.387 B.MBA 36.501 B. Sr . February 01. Limited 3 4 5 6 Chandar Ravi * D‘Costa Allwyn Dr.MBA 25. companies contribution to Provident Fund and Officer‘s Superannuation Fund .888 B. All the employees have adequate experience to discharge the responsibility assigned to them.Tech. read Companies (Par articulars Employees) Rules ules.96.01. 40. * indicate that the employee was in service only for part of the year.36. 162 ACC Limited .187 BE.92.551 B.083 Certificate in Management 25.65.76.Bhoon K S Fuchs Hans 46. For and on behalf of the Board of Directors Hans Fuchs Managing Director Sunil Nayak Director Mumbai.(Civil).59.247 CA 43. Mumbai 400 020.E. allowances .839 MBA 31. MTECH 27.033 PHD.E.31. MBA 62.Sc 49 43 ACC Limited RDC Concrete India Pvt.Mishra Tanaya Rawat Ragesh Saini Sunil Sohail Azhar Singh Vikramjeet Venugopal Madambath * Verma Ameya K 27.(Civil).(Civil). In addition to the above remuneration.(Civil).

S. Chartered Accountants Firm Registration No. (ii) (a) b) c) (b) The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. so far as appears from our examination of the books. 1956. as on December 31. 4. 1956. firms or other parties covered in the register maintained under Section 301 of the Companies Act. 38128 2. An audit also includes assessing the accounting principles used and significant estimates made by management. and taken on record by the Board of Directors. there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchases of inventory and fixed assets and for the sale of goods and 75th Annual Report 2010 163 . S. ANN EXU R E TO T H E AU DITORS’ REPORT ANN AUDITOR REPORT ORS’ EPOR (Referred to in paragraph 3 of our Report of even date) (i) (a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. An audit includes examining. proper books of account as required by law have been kept by the Company. evidence supporting the amounts and disclosures in the financial statements. (c) Fixed assets disposed off during the year were not substantial. of the state of affairs of the Company as at December 31. which to the best of our knowledge and belief were necessary for the purposes of our audit. As required by the Companies (Auditor’s Report) Order. We believe that our audit provides a reasonable basis for our opinion. Accordingly. 1956.Auditor’s Report to the Members of ACC Concrete Limited 1. the Company is maintaining proper records of inventory. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. annexed thereto. Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act. we report that none of the directors of the Company are disqualified as on December 31. in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: i) in the case of the Balance Sheet. 2010. As informed. as well as evaluating the overall financial statement presentation. (iv) In our opinion and according to the information and explanations given to us. in our opinion. 1956. The discrepancies noticed on verification between the physical stocks and the book records were not material and have been properly dealt with in the books of account. 3. Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account. the said accounts give the information required by the Companies Act. Further to our comments in the Annexure referred to in paragraph 3 above. Aiyar Co For K. secured or unsecured to companies. 1956. Accordingly. we are of the opinion that the disposal of fixed assets has not affected the going concern status of the Company. sub-clause (f) and (g) are not applicable. of the cash flows for the year ended on that date. in our opinion and to the best of our information and according to the explanations given to us. According to the information and explanations given to us. Our responsibility is to express an opinion on these financial statements based on our audit. 2010. (c) and (d) are not applicable. on the basis of the written representations received from the directors. We have audited the attached Balance Sheet of ACC CONCRETE LIMITED. as at December 31. (b) A substantial portion of the fixed assets has been physically verified by the management during the year and in our opinion the frequency of verification is reasonable having regard to the size of the Company and the nature of its assets. (c) In our opinion and according to the information and explanations given to us. No material discrepancies were noticed on such physical verification. the Balance Sheet. the Company has not granted any loans. 2010. 1956. 2003 (as amended) issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act. Aiyar & Co. ii) iii) in the case of the Profit and Loss Account. in our opinion. we enclose in the annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order. the Company has not taken any loans. 100186W Place: Mumbai Date: February 01. These financial statements are the responsibility of the Company’s management. We conducted our audit in accordance with auditing standards generally accepted in India. d) e) (iii) (a) f) (e) As informed. The inventories have been physically verified during the year by the management. sub-clause (b). and also the Profit and Loss Account and the Cash Flow Statement for the year ended on that date. in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act. of the loss of the Company for the year ended on that date. and in the case of the Cash Flow Statement. Aiyar Partner Membership No. the Balance Sheet. secured or unsecured from companies. on a test basis. 2011 Aiyar Raghuvir M. In our opinion. the frequency of verification is reasonable. firms or other parties covered in the register maintained under Section 301 of the Companies Act. we report that: a) we have obtained all the information and explanations. 2010 from being appointed as a director.

Custom duty. investor education and protection fund. no major weakness has been noticed in the internal control system in respect of these areas. bank or debenture holder. According to the information and explanations given to us. wealth-tax. According to the information and explanations furnished by the management. In our opinion. the Company is not a chit fund or a nidhi / mutual benefit fund / society. excise duty and cess which have not been deposited on account of any dispute. which have been relied upon by us. Aiyar & Co. Income tax. Therefore. 164 ACC Limited .593. the provisions of clause 4 (xiii) of the Order are not applicable to the Company. 100186W Place: Mumbai Date: February 01. Employees’ State Insurance. the provision of clause (xx) of the order is not applicable to the Company. income-tax. The Company has not raised any money by way of public issue during the year. According to the information and explanations given to us. the Company has not granted any loans and advances on the basis of security by way of pledge of shares. at the year end for a period of more than six months from the date they became payable. 1956 and the Companies (Acceptance of Deposit) Rules 1975 apply. we report that funds raised on short-term basis aggregating to ` 8. employees’ state insurance. Accordingly sub clause (b) is not applicable The Company has not accepted any deposits from the public to which the provisions of section 58A. Wealth tax. customs duty. We have been informed that the Company is not required to maintain cost records under clause (d) of sub-section (1) of section 209 of the Companies Act. (b) According to the records of the Company. the Company has not raised any loans during the period. sales tax. S. the Company is not dealing in or trading in shares. 58AA. Accordingly. According to the information and explanations given to us.Subsidiary Financial Statements services. In our opinion. salestax.06 3. the Company has an internal audit system commensurate with the size and nature of its business. the Company has not given guarantee for loans taken by others from bank or financial institutions. During the course of our audit. According to the records of the Company. Service tax. debentures and other investments. Sales tax. the provisions of clause 4(xiv) of the Order are not applicable to the Company. According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company. service tax. cess and other statutory dues which were outstanding.P VAT Act VAT 204. Investor Education and Protection Fund. cess and other material statutory dues applicable to it have been generally regularly deposited during the year with the appropriate authorities. are as follows: ` Lac Name of the Statute Nature of dues Amount Period to which the amount relates 2008 Forum where the dispute is pending Joint Commissioner Appeals Allahabad High Court Allahabad High Court Allahabad High Court (xi) According to information and explanations given to us the company has not taken any money from any financial institution.03 (xxi) Entry Tax Entry Tax Entry Tax Entry Tax Entry Tax Entry Tax 34. and hence clause (4) (xi) is not applicable to the company. there are no undisputed dues in respect of provident fund. Based on our examination of the records and the information and explanations given to us. The Company has not issued any debentures during the year. 2011 Aiyar Raghuvir M. (xii) (vi) (xiii) (vii) (viii) (xiv) (ix) (a) (xv) (xvi) (xvii) (xviii) (xix) (xx) U. Aiyar Partner Membership No. 1956. Therefore the provisions of clause (xix) of the order are not applicable to the company. there were no frauds on or by the Company noticed or reported during the course of our audit.33 2008 2009 2010 S. 38128 (x) The Company has been registered for a period of less than five years hence clause (4) (x) of Companies (Auditor’s Report) Order. service tax. custom duty. debentures and other securities. income tax. Aiyar Co For K. excise duty. 1956. 1956. In our opinion. Excise duty. Therefore. Provident Fund.14 15. or any other relevant provisions of the Companies Act. The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Companies Act.64 lac have been partially utilised for financing the cash losses and partially for longterm investment in fixed assets. (v) Based on the Audit procedures performed and according to the information and explanations given to us there are no transactions that need to be entered into the register maintained in pursuance of section 301 of the companies Act. securities. Chartered Accountants Firm Registration No. which has been relied upon. wealth tax. 2003 (as amended) is not applicable.

.................................544..... February 01.. Miscellaneous Expenditure .................................................71 1 2 20...........000...35 26.....................293................47 13.923.....54 5 6 7 8 9 693......... Loan Funds: Unsecured Loans ....................................868.................800.93 10.................... Nayak Director Shekhar Modi Company Secretary 75th Annual Report 2010 165 ...77 71.................12 435..................... Reserves and Surplus ..........................56) 84.......... Fuchs Hans J....................................................71 12 10 11 12... Loans and Advances: Inventories ...... 38128 Mumbai.......25 1....023... ASSET (NET SSETS ET) TOTAL ASSETS (NET) .... 2010 ` Lac Schedules SOUR FU SOUR C ES OF FU N DS: Shareholders’ Funds: Share Capital ..43 13...................................................300......328........................ FU APPLICA FU APPLICATION OF FU N DS: Fixed Assets: .....................................37 10..........89 11...47 8................................................................ Less: Accumulated Depreciation ..........29 (756..............................232......... Aiyar Co For K............................ 100186W Chartered Accountants Aiyar Raghuvir M................000.....71 20.................................236...............................42 3..........Balance Sheet as at December 31............777.....57 27.......................................323..................323............................................. Loans and Advances ..................................... 16 17.................. J.....71 14.................................... Current Assets.07 12...........................................95 104.................................. Aiyar Partner Membership No........687........709.................................67 7............573.......................... Net Block ......823..019...........................................................................18 11...................124....... Provisions .................431...................... Other Current Assets .................. (To the extent not written off or adjusted) Profit and Loss Account .....282..........73 3 7........... Notes to Accounts ............................................................................................ Sundry Debtors ........................278.... Capital Work-in-Progress (including Capital Advance) ...........................64) 56.................. Cash and Bank Balances ..................... Gross Block ....... S......371.........90 124.........................00 26..............................023...................00 23........... Firm Registration No......................71 20........................26 11......................................... Fuchs Managing Director D’c Allwyn D’costa Chief Financial Officer Nay Sunil K................................................... Less : Current Liabilities and Provisions: Current Liabilities .........................33 5..........................41 16...........98 183..................55 1........................................71 2010 2009 4 16.....................526.................15 42...................... TOTAL FU N DS ..........................36 90......71 6.......................................111.......00 27..........................732..66 678........ 2011 For and on behalf of the Board of ACC Concrete Limited........................ Net Current Assets ..................................38 The schedules referred to above and notes to accounts form an integral part of the Balance Sheet As per our report of even date S........79 10........30 (1............23 95....................... Aiyar & Co.......00 23..........................712..................................71 20............823...................................

...12) (9.. Aiyar Aiyar Partner Membership No............... Fuchs Hans J................. Depreciation & Amortisation ................................................85 227...............22) 54...............28 1.............................730...................84) The schedules referred to above and notes to accounts form an integral part of the Profit and Loss Account As per our report of even date S....................................................... Accoun ounts Notes to Accounts ....... J.................14 (4.............................................00 (2...........................................22) (14.......... Firm Registration No.. Balance brought forward from Previous Year ......................... Interest ...35) (4..11 380......911............................87 64............01) 10....35) (17....... 100186W Chartered Accountants Raghuvir M.28 (4..............371................30 2010 2009 XPENDIT DITU E XPENDITU R E: Manufacturing and Other Expenses .........................................502... Aiyar Co For K......80 56.............................110...... 15 14 61.............33 18.....................88 51.. Balance carried to Balance Sheet ............... S....... Other Income .................... 2011 For and on behalf of the Board of ACC Concrete Limited...... Nayak Director Shekhar Modi Company Secretary 166 ACC Limited .898................77 61............00 1.........................................191............... Fuchs Managing Director Allwyn D’costa D’c Chief Financial Officer Nay Sunil K........................................................................ 2010 ` Lac Schedules NCO I NCO ME: Sale of Products and Services (Net) .................................................. Pro for axa Provision for Taxation Fringe Benefit Tax ...................... February 01.............................274.............................72) 10....................282.......022.......................... Basic and Diluted Earnings per Share .................10 befor ore Loss before Tax ................... 38128 Mumbai.....104.......................................690.43 2.........096..............................91 4...089.23) (14.........911...... 13 60.......................... 16 ` ` (2..................688.............. Aiyar & Co... after Loss after Tax ............................90 2.............Subsidiary Financial Statements Profit and Loss Account for the year ended December 31......371....... Face Value per Share ................45 51......681.57) (3.................

....... 2010 ` Lac 2010 A..000...000.....656......216...28) (3.... inv activities Net cash used in investing activities .00 (4........52 28... For and on behalf of the Board of ACC Concrete Limited.............000............00 20.........73) (1.. increase/(decrease) ease/(decr equivalen alents Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents ........00 10.00..000 Equity Shares of ` 10 each...00 481...........00........40 (165............. 20 Sale/Redemption of Investments .71 ` Lac 2009 23.....08 28........ ISSUED SUBSC ED.....26) (511. 21 Sale/Retirement of Assets .......78 15..47) 4.......000...00 SCHEDULE SHARE CAPIT APITAL SC H EDU LE .............78 (2......Opening Balance .(net) ...........18 (1....1...............00 Capital Reserve ....00 10.800..14 350...... Fuchs Hans J.....00 20......13 (368.......17 240......00) 5.......................... 22 Interest and Dividend received ....70 (209.........Net Miscellaneous Expenditure written off Profit on Sale of Investment . 100186W Chartered Accountants Aiyar R aghuvir M.............395.76 387. 16 Trade payables ........096....000........ RESERVES AN D SUR PLUS 2010 23.........000......... (All the Shares are held by ACC Limited........13) 435...300.......00..........3.......000 (Previous year 100........ S...................24 6.000...586. Stores / Inventory Write off .. (Inter ..71 23.....000 (Previous year 100.00.000.....688...00 6.....00 ` Lac 2009 6. the Holding Company) TOTAL ....00 20....90 183.58) (1.00..... Cash from opera activities Net Cash flow from operating activities ................ Cash generated from operations ... B...............43) 30......65) (410............000 1% Cumulative Redeemable Preference Shares of ` 10 each.. SUBSC R I BED & PAI D U P 10. J.........87) 500.....000. fully paid 10.000 Preference Shares of ` 10 each ...... Cash flow from investing activities 18 Purchase of Fixed Assets ....000 (Previous year 100.......80 15..33 (9... C.863.....07) 676....... Previous Year’s figures are regrouped / recasted wherever necessary...00 20....00 All figures in brackets are outflow.....00 10..000...00 10......90) (1...000......000.........596..84) 2....000) Equity Shares of ` 10 each .........000.65) (368...30) 2.. BSCR PAI UP AID ISSU ED.99) (111....Cash Flow Statement for the year ended Schedules forming part of the Balance Sheet December 31...........2..17) (56.. Aiyar & Co....00 10..800....000 (Previous year 100.. 2011 D’c Allwyn D’costa Chief Financial Officer Shekhar Modi Company Secretary 75th Annual Report 2010 167 ... Aiyar Partner Membership No.....13 (252. 14 Assets Held for Disposal/ other current assets 15 Other receivables .62) 47.......000.....000.83 (364.............. TOTAL . 17 Direct Taxes ..Corporate Deposits from ACC Limited... Operating profit before working capital changes Adjustments for : 12 Trade receivables .......... Interest Expense ................63 48.90 Short Term Loan ............00 10.... Provision for Retirement Benefits .000.56) (5. 19 Purchase of Investments ... Aiyar Co For K......8) ..... fully paid) (Refer Note ...91 (11.658...43) (4. Nayak Director As per our report of even date S..... Cash flow from operating activities 1 2 3 4 5 6 7 8 9 Net Loss before Tax . Firm Registration No. Depreciation ................ Loss on Sale/ Discarded Fixed Assets ............. 11 Balances Written back .....01) (1...695.... Interest and Dividend Income .....688....600.... SHARE CAPITAL 2010 ` Lac 2009 Adjustments for : 10 Provision for Bad and Doubtful Debts ......000.....77) (675................22) 2.... 25 Repayment of Short term Borrowings (Net) 26 Proceeds from Short term Borrowings (Net) from activities Net cash from financing activities .71 2009 HORISED AUT HOR ISED 10...........104.... Fuchs Managing Director Nay Sunil K.71 23..... 38128 Mumbai.........17 (1........... 13 Inventories ....18) 121...10) 1.... Cash flow from financing activities 23 Interest paid .......00....20 48.......17 4.... the Holding Company and its nominees) ...77 (4..000.00....53) 18..................00.......99 14... SCHEDULE UNSECU NSECUR LO SC H EDU LE ..........14 435.. February 01...00 20..92) 347.00 10. TOTAL ......87 (9................Closing Balance Notes : 1 2 3 7..00 10............911. (2........ UNSECU R ED LOANS 2010 7.....300.. Cash and Cash Equivalents is Cash and Bank Balance as per Balance Sheet.........19 (3..000...... 20.. 24 Proceeds from issue of Share Capital .. 10......61) (18.. SCHEDULE RESER ESERVES AND SUR PLUS SC H EDU LE ........................80) 10....

931.33 2.42 5..25 278.98 ` Lac 2009 SCHEDULE OT CUR ASSET SSETS SC H EDU LE ... Stores & Spare Parts and Fuels ......544..... (b) Advances and Deposits with Railways.712.94 29.. 71. (a) Advances Recoverable in cash or in Kind of for value to be received Considered Good .18 8..44 2.93 48.. TOTAL ..18 5. (b) Others .71 16.971........79 168 ACC Limited .......05 786...........08 278.630...99 467.99 259..096.47 12. Considered Doubtful ..48 73.31 0.51 786....352..54 850.. TOTAL ...55 71..12 273...70 166.48 1.47 NET BLOCK As at 31-12-2010 283.704.....64 As at 31-12-2010 300....19 762. Balances With Scheduled Banks In Current Account .573..90 ` Lac 2010 2009 5....... etc....264..... Assets held for Disposal ..25 ` Lac 2009 383..12 1.91 39.00 16..328.91 23. Sundry Advances and Deposits..31 273.....01 1.93 3.......... LOANS AN D ADVANC ES (Unsecured..732...53 11..7.50 736....46 289.37 1..43 13..010...90 1........95 104.81 7...............47 ` Lac 2009 648....258.00 0..14 932..17 222.506.63 34.88 713......709.....579.69 15.97 1. Fixtures and Equipments 5 Motor Cars.61 7..41 472..76 139...33 0.72 1.75 SCHEDULE SUN DRY DEBTORS SC H EDU LE ..44 129.55 8. Plant 4 Furniture....007..15 2........ TOTAL .30 118..90 1..03 13.29 8..83 11..43 8 Capital work-in-Progress and Unallocated Capital Expenditure including Capital Advance on Fixed Assets SCHEDULE INVENTORI NVENTOR SC H EDU LE .. 2...15 13.54 150....... SUN DRY DEBTORS 2010 SUNDRY DEBTORS (UNSECURED) (a) Over Six Months Considered Good ..236...26 As at 31-12-2009 289...... TOTAL .104......299...38 25.. Less: Provision made for Bad and Doubtful Debts .(Considered Good) .......45 771.46 Deductions/ Adjustment 99......... In Fixed Deposit (Against margin money) In Fixed Deposit ..780. 97......35 457............19 5.35 DEPRECIATION / AMORTISATION For the year Deductions/ Adjustment 5..32 138..36 Lac) in respect which the Company holds guarantees from the bank 272.59 1..55 45..83 138...019.....309....... INVENTOR I ES .47 3.54 957....47 0.... Accrued Interest .00 93.54 63.61 GROSS BLOCK AT COST Additions/ Adjustments 268...43 457. CASH AN D BAN K BALANC ES 2010 1.64 10.......93 45.43 8........06 5........... Cash on Hand .38 13.......33 16....89 3 Advance Payment Against Taxes .....18 3........Subsidiary Financial Statements Schedules forming part of the Balance Sheet CH EDULE ASSET SSETS S C H EDULE .......09 677.....38 227.55 SCHEDULE LO AND ADVANCES SC H EDU LE ....097.036. 183..459...687.732.35 606....05 183. OT H ER CUR R ENT ASSETS 63...86 175. 2......79 As at 31-12-2010 16......476..666....51 7.229... (Transit Mixers) 6 Electric Installations Sub Total 7 Intangible Asset Sub Total Total Previous Year 300......54 693....95 42.... 2 Balances With Government Authorities on Current Accounts ..55 3..51 1.53 93..... 644.95 124.9..84 16...14 241..28 281....118. Trucks....86 251.23 0..66 526. Considered Good.72 0...792.... TOTAL ......8......391....5...649..95 212....73 678.. etc... 702.84 156.. Note: Unsecured Debtors considered good includes ` 1.....60 216.....29 1.......923.838.....67 SCHEDULE CA AND BAN BALANC ANK ALANCES SC H EDU LE ........63 14..60 3.... FIXED ASSETS ` Lac FIXED ASSETS As at 01-01-2010 1 Leasehold Land 2 Buildings 3 Machinery.....92 555.802.. unless otherwise stated) 2010 1...........41 5.95 115.42 139.85 6..47 281....31 16......26 43..281.036.77 ` Lac 2009 0.....31 2.035.92 97.6...55 25..25 16....547.94 526.05 3.06 4...05 435...019..15 574.......... Government Bodies and others Considered Good ...44 677.57 227...As Certified by the Management 2010 Raw Materials .....4.....32 0.82 Lac (Previous year ` 1.....712...53 12..645..........42 As at 01-01-2010 11...80 93.31 129.66 1..72 702.097..66 1.....80 2....94 272..43 20.44 82....

...... SCHEDULE MISCELLAN ELLANEOUS EXPENDITU XPENDIT SC H EDULE ..86 93..................87 233......................................62 303.....91 741.......... 209.......10 Rent .............719...................14 ` Lac 2009 144.78 3..Schedules forming part of the Balance Sheet SCHEDULE CUR LIABI LITI SC H EDULE .... Repairs to Machinery . 56.18 34........... ........47 70.11................ Insurance ...............460.17 982.. TOTAL ....972......898....754......71 83....777... Profit on Sale of Investments .............. MISC ELLAN EOUS EXPEN DITU R E (To the extent not written off or adjusted) 2010 Preliminary Expenses .42 4.........14 53.......68 911.... Raw Materials Consumed......... TOTAL ..... Wages..14.... ADMI IST MIN SELLING AND ADMI N ISTRAT IVE..............306..64 0................64 12.... SCHEDULE PRO SC H EDULE ..23 305......86 9.62 1........62 841.......15.......56 45.71 1............ Interest Income ....78 176..91 3...........93 Outbound Freight Charges .. TOTAL ............ PROVISIONS 2010 Provision for Retirement Benefits .45 180...... Other Income Unclaimed Balances Written Back ............ Consultancy Services ....... 18................63 380...85 23.17 4.......254.......78 176...... Dearness Allowance and Bonus .............12......... Labour Expenses Sub contracted ........96 10..............089.. Sundry Deposits ......... I NTER EST 2010 Others ....73 10........10......... Rates and Taxes ........ Net value of Discarded or Dismantling or Scrapped Capital Assets .10 5.. 1....37 ` Lac 2009 84.... Stores & Spare parts Consumed ... TOTAL ...............93 90..54 84.025....................89 AND OT EXPENSES SCHEDULE MAN ANU CTU SC H EDU LE ..........................20 380......441......796. Pumping and Conveying Charges . CU R R ENT LIABI LITI ES 2010 Sundry Creditors Payable to the Holding Company ......26 9......24 336.........80 4.............55 1.....................421.... Advertisement .............64 807......77 1.....................................51 188................54 MENTS AND PRO PAYMENTS TO AN D PROVISIONS EMPLO FOR EMPLOYEES Salaries.431............. OTH ER I NCO ME 2010 Other Operating Income .. 1........571.. 95.........18 347. Repairs to Building ......86 5... Workmen and Staff Welfare Expenses ..87 18......18 350.......277.........70 103............37 56.......................32 54..35 227...209.02 759........14 13..910..05 10.................41 325..54 215..... Contributions / Provisions to and for Provident and Other Funds ...............876......76 84.89 2....... TOTAL ..744..43 SCHEDULE INTERES NTEREST SC H EDU LE .........36 ` Lac 2009 AND ANU CTU M ANU FACTU R I NG AN D DIST BUT EXPENSES DIST R I BUTION EXPENSES Purchase of Ready Mixed Concrete ............467....................... Repairs to Other Items .....08 28.17 11............ SELLI NG AN D EXPENSES OTH ER EXPENSES 171... MANU FACTU R I NG AN D OTH ER EXPENSES 2010 ` Lac 2009 Schedules forming part of the Profit and Loss Account SCHEDULE OT INC NCO SC H EDULE .99 111.....22 2.....13....53 (18...87 ` Lac 2009 4......760......07 95...... Miscellaneous Expenses written off .20 10.......80 75th Annual Report 2010 169 ................79 61........07 ` Lac 2009 90.......75 234................786........................412.............................98 39.........16) 200...48 0............. Other Sundry Creditors .. Profit/(Loss) on Sale of Fixed Assets (Net) TOTAL ..........90 1...82 4.....33 3...........24 17...737.98 296..........091........ Other Expenses ....... Provision for Bad and Doubtful Debts .............. Power and Fuel .......75 1........599....

Impairment Impairment An impairment loss is charged to the Profit and Loss Account wherever the carrying amount of an asset exceeds its estimated recoverable amount. I) Inventories Inventories Raw materials. Intangibles Intangibles Software cost is amortised over a period of three years. However. except where impairment is made and revaluation is carried out. 2006 prescribed by the Central Government of India. Actuarial gain and losses are recognized immediately in the statement of Profit and Loss account as income or expense. (iii) Cost of leasehold land is amortised over the period of lease. Claims payable are accounted at the time of acceptance. Net realizable value is the estimated selling price in the ordinary course of business. These assets are depreciated over the useful life on straight line method on a pro-rata basis. B) Accoun ounting Accounting of claims (i) Claims receivable are accounted at the time when such income has been earned by the Company depending on the certainty of receipts. Dividend income is recognized when the shareholders’ right to receive dividend is established by the Balance Sheet Date. 1956. Profit and Loss Account and Cash Flow Statement NTS NOT AC OUNT Schedule . 1956 and comply with the mandatory accounting standards (AS) specified in Companies (Accounting Standard) Rules. Fixed assets are stated at cost of acquisition or construction less accumulated depreciation. are accounted based on the merits of each claim. Exchange differences arising on the settlement of monetary items or on reporting company’s monetary items at rates different from those at which they were initially recorded during the year. Investments Investments Current investments are carried at the lower of cost or fair value. (iii) employ Other employee benefit Company’s liability towards silver jubilee and long service awards is determined on the basis of period of service as at Balance Sheet Date. are recognised as income or as expenses in the year in which they arise. Sale of goods (i) (ii) Revenue is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer. Cost is determined on a weighted average basis. or reported in previous financial statements. Depreciation The useful life of transit mixers and pumps is estimated at 8 years and 6 years respectively. Long term investments are stated at cost. F) xpenditure construc onstruction Expenditure during construction period In case of new projects expenditure incurred. H) L eases Lease payments under operating lease are recognised as an expense in the Profit and Loss Account on a straight-line basis over the lease term. Inter terest Income Interest and Dividend Income Interest income is recognised on a time proportion basis taking into account the amount outstanding and the rate applicable. materials and other items held for use in the production of inventories are not written down below cost if the finished products in which they will be incorporated are expected to be sold at or above cost. less estimated costs of completion and estimated costs necessary to make the sale. if transferred from ACC Limited. are depreciated over the remaining useful life considering the period for which ACC Limited has already used such assets. Buildings. additional gratuity and long term compensated absences are the defined benefit plans. stores and spares are valued at lower of cost and net realizable value.16. impairment losses. (ii) (iii) (II) (I I) estimates Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period end. G) D) E) All other assets are depreciated on the straight line method at the rates prescribed in Schedule XIV of the Companies Act. (ii) C) ixed Fixed assets (i) (ii) 170 ACC Limited . Accounting policies have been consistently applied by the Company. Provision for diminution in the value of long-term investments is made only if such a decline is other than temporary. including trial production expenses net of revenue earned. 2010 1. NOTES TO ACCOUNTS ART AC OUNT NTS SIGNI FICANT AC OUNT NTI POLIC OLICI AND NOT FORMING PAR SIGN I FICANT ACCOUNTI NG POLICI ES AN D NOT ES FORMI NG PART OF T H E ACCOUNTS ENDED DECEMB EMBER FOR T H E YEAR EN DED ON DECEMB ER 31. on a pro-rata basis. Non-monetary items which are carried in terms of historical cost denominated in a foreign currency are reported using the exchange rate at the date of the transaction. civil cost and installations are estimated to have useful life of 10 years. Income from jobs and other services rendered is accounted for as per the terms of contract. fuel. under the business purchase agreement. (I) prepar epara Basis of preparation (i) The financial statements of the Company are prepared under the historical cost convention on accrual basis of accounting and in accordance with the accounting principles generally accepted in India and in compliance with the provision of the Companies Act. There are no other obligations other than the contribution made by the company. Useful life of certain assets is tailored based upon the commercial agreements and the carrying amount of such assets is allocated over their useful life. Previously recognized impairment loss is further provided or reversed depending on changes in circumstances. In case of Plant & Machinery and Electrical installation at the Ready mixed concrete plants. Foreign currency monetary items are reported using the closing rate.Subsidiary Financial Statements Schedules forming part of the Balance Sheet. (II (I I I) Significant Accoun ounting Policies Significant Accounting Policies A) rec ecognition Re venue recognition Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. actual results could differ from these estimates. depreciation has been provided on triple shift basis for the entire year even though the plants have worked only double and single shifts at various times. Although these estimates are based upon management’s best knowledge of current events and actions. The above assets. prior to commencement of commercial production are capitalised. K) Employ Employee benefits (i) Con ontribution Defined Contribution Plan Defined contribution plan consists of Government Provident Fund Scheme and Employee State Insurance scheme. Financial statements are based on historical cost and are prepared on accrual basis. Company’s liabilities towards these are determined using the projected unit credit method which considers each period of service as giving rise to an additional unit of benefit entitlement and measures each unit separately to build up the final obligation. which are disputed by the Company. Claims raised by Government Authorities regarding taxes and duties. Obligation is measured at the present value of estimated future cash flow using a discount rate that is determined by the reference to market yields at the Balance Sheet date on Government bonds. J) oreign currency transac ansactions Foreign currency transac tions Foreign currency transactions are recorded at the rates of exchange prevailing on the date of transactions. Company’s contribution paid / payable during the year under these schemes are charged to Profit and Loss Account. based on assessment of estimated useful life. (ii) Defined Benefit Plan Company’s liabilities towards gratuity.

Deferred tax assets are recognised only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised.. Holcim Group Support Limited 19....42 5.......... Joint Venture of Fellow Subsidiary Company ACC Mineral Resources Limited Alcon Cement Company Pvt. 6...54 0... 4 Reimbursement of Expenses/ Cost of Material/Stores Received .....460... hence segment information as per Accounting Standard 17 is not required to be disclosed.....53 235. 32.. Hans J... Siam City Concrete Co... Holcim Environment Services Sa...... Company ACC Mineral Resources Limited MP AMRL(Morga) Coal Company Ltd..... Ltd..300.... 7....... 9. 13... National Cement Factory 30... 10. 2. deferred and fringe benefit tax.... April 20. National Limestone Company Pvt..000. ACC Mineral Resources Limited (Formerly known as The Cement Marketing Company of India Limited) 4.......00 6.. unless the possibility of an outflow of resources embodying the economic benefit is remote..73 75th Annual Report 2010 171 .400.... 34...... 2 Sale of Fixed Assets .. Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligation at the balance sheet date. 2010 Ambuja Cement India Private Limited Promoter Group Company of Holding Company 1 Purchase of Finished/ Unfinished goods ... Holcim Bangladesh Limited 31.45 55. atur ture Rela elationship N ature of Relationship Holding Company Natur ture Rela elationship Nature of Relationship Managing Director ` Lac 2010 2009 7.....00 2.... Joint Venture of Fellow Subsidiary Company ACC Mineral Resources Limited MP AMRL(Bicharpur) Coal Company Ltd..e.L) Income axes Income Taxes Tax expense comprises of current. Holcim (Canada) Inc..... Deferred Income Tax reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years.... 27.. Associate Company of the holding company w..... 5 Receiving of Services .. Holcim Singapore Limited 21............. Holcim Services (South Asia) Limited 25... 7.... 9 Inter Corporate Deposits Liquidated During the Year ....01 1. 11 Outstanding balance included in Current Liabilities (Net) ........ Segment Repor eporting Segment Repor ting The Company is operating only in one significant business segment i. Holcim Services (Asia) Limited 18... elated Par Disclosure arty Related Par ty Disclosure (A) articulars Fellow Subsidiary Associate Promoter Group Par ticulars of Holding / Fellow Subsidiary / Associate / Promoter Group Companies Rela elated Par arties Name of the Related Par ties 1....96 8.. all deferred tax assets are recognised only if there is virtual certainty supported by convincing evidence that they can be realised against future taxable profits.00 41.... 7 Investment received in the Share Capital of the Company . P T Holcim Beton (B) Management Personnel: Key Management Personnel: Rela elated Par arty Name of Related Par ty Fellow Subsidiary Company (C) Fellow Subsidiary Company Mr........f........ Ltd............... 11..... 8 Inter Corporate Deposits Received During The Year ......... 6 Interest paid during the year ... it is probable that an outflow of resources embodying economic benefit will be required to settle the obligation.. 2010 MP AMRL(Semaria) Coal Company Ltd....f April 01.. as such there is no reportable Geographical Segments. Holcim Trading FZCO 22. Joint Venture of Fellow Subsidiary Company ACC Mineral Resources Limited MP AMRL(Marki Barka) Coal Joint Venture of Fellow Subsidiary Company Ltd..... January 28...00 7300.. 10 Inter Corporate Deposits as at the end of the Year ... Current income tax and fringe benefit tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act.... 4.......... Ltd.........518..... Holcim (India) Private Limited 17....e. In situations where the Company has unabsorbed depreciation or carry forward tax losses.. Deferred Tax Assets are reviewed at each Balance Sheet date.271. Ready Mixed Concrete. Holderind Investments Limited 16.. in respect of which a reliable estimate can be made...... Ambuja Cements Limited 15..00 1. Fuchs ansactions Compan ompany Transactions with Holding Company ture Rela elationship atur N ature of Relationship Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Entity of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company M) ontingencies Pro Contingencies / Provisions A provision is recognised when an enterprise has a present obligation as a result of past event... 23..... Ltd... Holcim Foundation 26....2009 Encore Cement and Additives Pvt.. Bulk Cement Corporation (India) Limited 3....30 84..f. The Company is catering only to the need of the domestic market... Rela elated Par arties Name of the Related Par ties 14.......... Siam City Cement Public Company Limited 29. Expenditur xpenditure Miscellaneous Expenditure Share issue expenses are being amortized over a period of 60 months from the commencement of commercial operations..... Fellow Subsidiary Company Fellow Subsidiary Company w......800..800..e.... These are reviewed at each balance sheet date and adjusted to reflect the current best estimates....11 2. Holcim (Lanka) Ltd. Holcim Ltd. 3. Holcim (Vietnam) Ltd.. 3 Reimbursement of Expenses/ Cost of Material/Stores Paid ..71 10...e..........00 305...... A contingent liability is disclosed. Limited 28.. Lucky Minmat Limited (Formerly known as Lucky Minmat Private Limited) 5.............. Associate Company of the holding company Asian Concretes & Cements Pvt... ACC Limited 2.00 12..... Belgium 33........ Deferred Tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the balance sheet date...... Fellow Subsidiary Company w...800..00 7...... Holcim Group Support (S) PTE Limited 20... 12...... P T Holcim Indonesia Tbk 24..

88 303...61 (-12................................63 112.. (iii)Training/ how/ (iii)Training/ Technical Know how/ Market surv y/Managemen Fees etc.....................55 687..... 164.........88 3. Hans Fuchs ...............228.................72) 6.................................28) -53...39 16.........96 24........ * Salaries .011............56 50.... 2010 1 Present value of Defined Benefit Obligation at the beginning of the year 2 3 4 5 Current Service cost .....85 (-5.54) 12.....68 (4. Net asset / liability (-) .......73 (7....04 *45..........00..31 199..................... 2010.......................................19) - 14..78 174...[EPS] ` Lac Particulars Profit/(Loss) after taxation as per Profit and Loss account ....36 8....72) 0................13) 6. Contributions to Provident and Superannuation Funds ........88 7....19 (-41...10 (35.... 2010 1 Present value of Defined Benefit obligation ........ Ambuja Cement Limited ...........39) (6..............49 5................872.. 2010 1 Current Service cost ..........................80 5.31 ` Lac 2009 114.............. Holcim Services (Asia) Limited ........17 (25.....39 (15......19) -8........ Remuner emunera Managerial Remuneration Managerial remuneration (excluding contribution to gratuity fund... Perquisites ........................04 0...84) 0.00 **199......... 2 3 4 Fair value of plan assets ..... 5..........228... for which the Company has obtained the approval of Central Government on 28th October.77 5........79 (63...84) 2....22) 100........ Expected return on plan assets ................. ` Lac Particulars Gratuity Funded Non Funded re cogniz ognized (I) E xpenses re cognized in the Statemen tement Profit Loss for Statement of Profit & Loss for year the year ended December 31..................17 (25...........89 (-19.............99) 0...............000 10. provision for leave encashment on retirement and other defined benefits since the same is provided on actuarial basis for the Company as a whole) paid/payable to Managing Director.......91 **164............. Performance Linked Variable Incentive ...........................36 (110...........10) - 41....26 (106..000 (3..00...70) 27.73 (7........................84) 2.... 2010.......12) 34.............724.........77 3.... Funded status [Surplus / Deficit(-)] .39) -6....... Interest cost .... (II Obligation (I I I) Change in Obligation during the y ear ended on December 31.22) 2009 (4..68) -19........11 54.45 (5............ 1961 ** Being in excess of the minimum remuneration payable in case of inadequacy of profits as per Schedule XIII of the Companies Act.................90 (-14.......690..........40) - 172 ACC Limited ....53 2009 4......17 (39.10 (35.19 (-41...95 The perquisites are valued as per provisions of Income Tax Act.............. Holcim Group Support (S) PTE Ltd.......................26) 117.....39) -6..00...................10) -7............................................43 (1.......61 (-12...43 (1.11 158....... Holcim Services (South Asia) Limited ......01) (4. .... -136..... Share [EPS] Earnings per Share .13) 6.39) -53...................................28 (79................ Settlement cost .30 311.19 (-41...45 (5......... Siam City Cement Public Company Limited (v) Outstanding Balance Included in Curren ent Current Liability ..94) 16.22 (0........... 2010 110....... Past Service cost ...... (Basic and Diluted earning per share are the same) 2010 (2... Actuarial Losses (+)/ gains (-) ....... Curtailment Losses (+)/ gains (-) .... eimbursement Expenses Paid/ (ii) Reimbursement of Expenses Paid/ Payable .........64 (1. Total Expense * ........872......... 2 3 4 Interest Cost ......45 432..... Holcim Group Support Limited ...34 87.....79) -8.58) -19............... Less: Preference dividend on 1% Cumulative Redeemable Preference Share Capital Profit/(Loss) after dividend on preference share capital ....... Weighted average number of Equity shares outstanding . 10.......90 (-14..............28) 123.......28) -53.. TOTAL .........30 -6...............................90 (-14.` 10 per share) .22 (0......00 (3...80) 5 6 23......97 (-123......................... Basic earnings per Share (Weighted Average) in ` (face value ............00 *19.......40) 9..... Siam City Cement Public Company Limited (iv)Tr Fees Receiv eceived (iv)Training Fees Received .....93) (II) (I I) Net Asset (+) / Liability (-) cogniz ognized r e cognized in the Balance Sheet at as at December 31......00......84) 0.....09 (16......................05) 23. 1956.....58) -6........95 2010 2009 5.... Management Market sur vey/Management Fees etc . P T Holcim Beton ..911..........86 2.... Leave Encashment (E) ansactions rela elating referred eferr Details of Transactions relating to persons referred to in item (B) of abov abov e ` Lac Particulars emunera Remuneration Mr...30 4... Employ Employee Benefits : (a) Defined benefit plans/ compensated absences – As per actuarial on December 31.....................90) 16....................Subsidiary Financial Statements (D) (D) elating Promoters Group Companies ansactions rela Details of Transactions relating to Promoters Group Companies ` Lac 2010 urchase Finished/ (i) Purchase of Finished/ Unfinished goods/Stores Spares goods/Stores And Spares ........

....58 Lac (Previous year ` 795. Rent . 110.... Wages.26) -7........ Insurance ..73 119...80 - 10 Present value of Defined Benefit ..07 -5......4%) 7.Under “Salaries...98 Lac)....79 Lac (Previous year ` 63... The Company has entered into Business collaboration agreement with Aakash Manufacturing Company Private Limited to market in Goa and nearby area...209....10 ` Lac 2009 943..88 (-102.39) -9..36) (20.......84 (-3.19 (41...... 100% - - 4 5 Turnover Rate . (b) Letter of Credit opened with Banks/Financial Institutions ` Nil (Previous year ` 134...................62 Lac) include lease rent of ` 2.. Benefit Payments/Payable ...Under “Contributions / Provision to and for Provident and other Funds” of Profit and Loss Account is ` 12... 3 4 5 6 7 Expected return on plan assets ... 12.. Qualifying Insurance Policy Actuarial ( VI) Actuarial Assumptions as at December 31..39) (-6........ The Company has not made provision for dividend payable amounting to ` 134.91 Lac) and Pumping and Conveying Charges of ` 1......... as a matter of prudence and in view of the absence of virtual certainty of future taxable income............. 2 3 Expected rate of return on plan .51 Lac) being Leave Encashment capitalized to the cost of Fixed Assets.....151.. Obligation at the end of the year (IV) year (IV ) Change in Assets during the year ended December 31....68 (75.....152....` Lac Particulars Gratuity Funded Non Funded 6 7 8 9 Employee contributions . considered in actuarial valuation....... 7...............55) 53.68 75th Annual Report 2010 173 ........90 Lac (Previous year ` 4..30 -0.. 2010 1 Discount Rate .. -11........ Pumps and Transit Mixers etc...11) 136...... Other expenses include ` Nil (Previous year ` 43........58 Lac)............. Dearness Allowance and Bonus” of Profit and Loss Account are ` (6. (d) Claims against the Company not admitted as debt – Royalty ` 12.. Opera Lease Operating Lease (a) Future Lease Rental payments 2010 (i) (ii) (iii) Not Later than one year ... under which the Company has an option to purchase 40% Equity stake in Aakash Manufacturing Company Private Limited.....92 Lac} for non funded Gratuity..... seniority...... 1..54) 117...17 Lac (Previous year ` 2......5% (7......910... promotion and other relevant factors.........02 Lac) being Gratuity (Non-Funded) and ` Nil Lac.....47 Lac)..................500 Lac.... 2012.................. 2009 19.. Amounts recognised as an expense/(income) and included in the Schedule 14 ..... Government Bodies and others ` 833........................ (c) Basis used to determine Expected rate of return on assets The Expected rate of return on plan assets is based on market expectation............ the same has not been recognized in the financial statements. TOTAL ........ The due date of redemption of the same is August 26.......... 2012........... for return over the entire life of the related obligation.......32 Lac) for procurement of Raw Materials.017.........85 (5........ Guarantees given to Banks/Financial Institutions..43 Lac (Refer Schedule – 14) (c) General description of leasing arrangement: (i) Leased Assets: Office and other premises...69) 8.... In view of carried forward losses... Later than five years ... An “agreement to sell” has been entered into between the Company and the selling shareholders of Aakash Manufacturing Company Private Limited......5% (8%) Indian Assured Lives Mortality (1994-96) Modified Ultimate 25% (19%) 5% Allowance for disability is made in the mortality rates 13......29 Lac) being Gratuity (Funded).............(previous year ` 0..99 9..... Actuarial Gains(+) / Losses(-) ... Other Expenses .79) (30.36 (110....81Lac (Previous year ` 250... Plan assets at the end of the year ........ The Company has not created a Capital Redemption Reserve towards redemption of the 1% Cumulative Redeemable Preference Shares......43 Lac (Previous year – ` 343.....70) -2.38 2..28) Leave Encashment 9............97 (123..............11 Lac.....70) -15.... (Figures in bracket pertain to previous year) (a) * (I) (6) of the above includes ` Nil (previous year ` 0........ Actual benefits paid ...254.........55 Lac (Previous year ` 4..... (Previous year ` 160..06 (-25........ 13 8... Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) ` 11........ at the beginning of the period. Aakash Manufacturing Company Private Limited has two Ready Mix Concrete plant in Goa with an annual turnover of ` 4... in the absence of profits..17 (39.27) 6...............30 0.............68 Lac) towards 1% cumulative redeemable preference shares in absence of profits for the year.... the Company has deferred tax assets.70 Lac) for Gratuity (Funded)......98 Lac (Previous year ` 12.. however..90 Lac) which is included in item 1 above... 2009. categories ( V ) The major categories of plan percen centage assets as a percentage of total plan Qualifying Insurance Policy ............ (ii) Lease rentals are charged on the basis of agreed terms...... Disability ....52 8.. in respect of this Company has issued Bank guarantee of ` 4...... 2011......64 Lac (Previous year ` 1..... Later than one year and not later than five years ...11 Lac) pre-oper tive expenses incurred e-opera transferred ansferr Capital work The pre-opera tive expenses incurred and transferred to Capital work in progress is as under: progr ogress under: ` Lac 2010 Salary and Allowances .....64) Lac {previous year ` 1............. Curtailment Gains(-) / Losses(+) .412........... ontingen tingent Pro For Contingent Liabilities Not Provided For (a) Indemnity... such as supply and demand in the employment market.....060.. in respect of this Company has issued Bank guarantee of ` 255.....18 (19........ 14 15......00....16 Lac (Previous year ` 1.... ` Nil (previous year ` 0..68) - - 10. ` 27..09 Lac (Previous year ` 16...... 2010 1 Plan Assets at the beginning of the year 2 Settlements . Variable charges in case of Transit Mixers and Pumps are not considered (b) Outbound Freight Charge of ` 5..... entry tax & other dues ` 352.... Ultimately the tax liability of the Company would be determined on the basis of its results for the financial year ending March 31......... (b) The estimates of future salary increases. The consideration amount will be increased by the interest charge at 11% per annum and reduced by the dividend /profit related to the selling shareholders declared/ earned by Aakash Manufacturing Company Private Limited during the period of signing of this agreement and exercise of this option......... Contribution to Provident and other funds Workmen and Staff Welfare Expenses ...60 42. on a mutually agreed dates which shall not be later than January 31. 11........... ...... Actuarial Gains(-) / Losses(+) ..................75 Lac) towards settlement and estimated retrenchment compensation for the contractor’s workers the actual outcome of which is contingent in cases where there are ongoing negotiations........... at a consideration of ` 720 Lac........ Contributions by employer ......... The Company has issued 10..89 1.......00... 14. (c) Sales tax...68 Lac during the year (previous year ` 34.17 Lac) include lease rent of ` 1.....000 1% cumulative redeemable preference shares of ` 10 each to the Holding Company for cash at par on August 27........ assets Mortality ..603. Taxation axa No provision for current tax is made in view of the losses for the year............90 (14..82 Lac) which is included in item 1 above.92 93.......42 Lac) for Leave Encashment... take account of inflation...

46 % 1. 2011 5.....89)} incurred for oreign currency basis) Expenses incurred in foreign currency (on accrual basis) 2010 ` Lac 2009 6.....11 18... Medium Enterprises Development Act..00 Materials (ii) Job and Service rendered ..06 Component & Spare parts 2009 ` Lac 111.754...86 56..500.08 2.......... TOTAL ... Value of Impor ts calculated on C..13) 112..88 6..30 783.... Technical Know-how paid (net of taxes) ..24 Component & Spare parts 2010 ` Lac 84. (E) Lac Cubic Meters 1.95 Lac @ closing rate of 1 CHF = ` 45.91 % 100.. Lac Cubic Meters TOTAL .....29 13. ADDITIONAL IN FORMA PURSUANT PRO PAR GRAPH ARA ADDITIONAL I N FORMAT ION PURSUANT TO TH E PROVISIONS OF PARAGRAPH 3 CT. Indigenous ..I.F.678. basis 18. (iii) Aggregate ....24 8............ 1956 (A) Sales by class of goods (Net) Unit 2010 Quantity (i) Ready Mixed Concrete .. PAR II ART SCH EDULE COMPAN ANI ACT & 4 OF PART II OF SC H EDU LE VI TO T H E CO MPAN I ES ACT.... Training and Seminar expenses ....594........ articulars Par ticulars Creditors Creditors CHF Amount Amount ` 139.00 15. 2006....... S.76 99..05 Lac (CHF 2......... actual produc tion and opening and Stocks closing Stocks *Installed / Rated Capacity per annum Unit 2010 50.. Tax Accounts Audit and Tax Audit Fees ...43) {Previous year ` 133....00 15...... (B) raw materials consumed Details of raw materials consumed Unit 2010 Quantity (i) Cement ..... (F) 294.306. 100186W Chartered Accountants Aiyar R aghuvir M. omponents Spare Value of Impor ted and indigenous Raw materials...06 Lac (USD 2.421..66 Lac @ closing rate of 1 USD = ` 45.30 2.Subsidiary Financial Statements 16.... Capital Goods .... the dues on account of Micro..00 216.69 (ii) 21..... February 01...00 3....31 ` Lac 2009 16.00 84... Aiyar Partner Membership No.599......74 18.95 1.053........942.32 334..661..844......76 1.. Lac Cubic Meters 17.18 ` Lac 2010 (i) (ii) Raw Material .00 Raw Materials 2009 ` Lac 665. For other services (Limited Review etc. 38128 Mumbai..18)} USD ` 75..98 43.33 2009 ` Lac Quantity 54.60 Lac (USD 1. Small. 174 ACC Limited ..00 8.94 98.849.. Fuchs Managing Director D’c Allwyn D’costa Chief Financial Officer Nay Sunil K......55 29... Firm Registration No..... Nayak Director Shekhar Modi Company Secretary As per our report of even date Co S......69 4.98 2009 Quantity 1..........05 ` Lac 46.75 100.............06 2009 17.....05 684........85 20...23 39.76 18.641.. 477 (E) dated July 25...00 111..... The Company is in the business of manufacturing Ready Mixed Concrete and therefore there is no opening and closing stock of finished goods..53 33........274.......10 3...45 165..306.) ........... J........79 15........269..16 16.47 Lac (CHF 2..99 (ii) Sand . TOTAL ........02 % 100.. (iv) Others ......125... as defined in the Micro.886. tutory yment Statutor Auditors Pa yment to Statutor y Auditors (excluding service tax) Other Expenses includes payment to Statutory Auditors as given below: 2010 Audit Fees .. 19...79 (i) 3......13 4..93 10.85 17.. 39.... actual produc oduction Licensed and installed capacity.279............ 3.... (D) (D) urchase Ready Mixed Concr oncrete Purchase of Ready Mixed Concrete Unit 2010 Quantity Ready Mixed Concrete .99 100... Components and Spare parts consumed: par ts consumed: Raw Materials 2010 Imported ..05 ` Lac 3........39 60... Lac Cubic Meters (iii) Pumping Services rendered (iv) Purchased Ready Mixed Concrete ...00 8....55) {Previous year ` 112... (Gain) / Loss on Exchange ...47 2009 42....16 671.. Aiyar & Co....36 4.............. For and on behalf of the Board of ACC Concrete Limited.......... The above information regarding Micro.00 Previous year’s figures have been regrouped/ restated wherever necessary to make them comparable with current year’s figures.....39 Lac @ closing rate of 1 USD = ` 46.. Small and Medium Enterprises.. Lac Tons Lac Tons Lac Tons 2009 ` Lac Quantity ` Lac ( G) Imported Raw materials Componen terials.50 87.. to which the Company owes on account of principal amount together with interest are not known and accordingly no additional disclosures have been made......... Fuchs Hans J...156... TOTAL ........31 45...02 100.65 (i) (ii) (iii) (iv) (v) (vi) Travelling expenses .02 4. In the absence of responses to confirmations.. Software Maintenance expenses TOTAL ... 1991 issued under The Industries (Development and Regulation) Act..07 2009 667..... Aiyar For K......52 2......................33 ` Lac 4..00 34.... Small and Medium Enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company.. Particulars of un-hedged foreign currency exposure as at Balance Sheet date...F....02 6..71 19....... This has been relied upon by the auditors.... Imports calculated C.82 39.......64 11..87 Lac @ closing rate of 1 CHF = ` 48..52 % 0.....421.. Consultants’ charges ... ` Lac 296..92 7.....06 51...91 100.....00 4...98 ( C) capacity..09 Actual Production 2010 20..03 34.... 1951.....I.21 140....06 1. Expenses Reimbursed .....01 Ready Mixed Lac Cubic Meters Concrete Licensed Capacity per annum not indicated due to the abolition of Industrial Licensees as per Notification No...27 20.....730.. TOTAL ..02 (7.07 294......

1956. 0 1 ) V. 2 0 M I X E D C O N C R E T E Expenditure 6 4 0 2 2 1 0 Profit Loss Profit / (-) Loss After Tax 2 9 1 1 2 2 Dividend Rate % N I L Misc. egistra Registration Details Registration No. Expenditure 5 6 3 7 Total Assets 3 9 8 5 0 0 1 Reserves & Surplus 2 3 7 1 Unsecured Loans 7 3 0 0 0 0 Investments N I L N I L State Code 1 1 raised year Capital raised during the year (Amount in ` Thousands) Public Issue N I L Bonus Issue 75th Annual Report 2010 175 . three Produc oducts Services Compan ompany Generic name of three principal Products / Services of the Company (As Per Monetary Terms) Item Code No. (ITC Code) Product Description 3 8 2 R E A D Y 4 . Position of Moblisation and Deployment of Funds (Amount in ` Thousands) Total Liabilities 3 9 8 5 0 0 1 Source Funds Source of Funds Paid-up Capital 2 0 0 0 0 0 0 Secured Loans N I L Application Funds Application of Funds Net Fixed Assets 1 1 2 7 8 4 1 Net Current Assets ( 1 2 9 3 6 4 ) Accumulated Losses 1 7 2 8 2 5 7 IV. Abstrac act Company’s General ompany’ Profile Balance Sheet Abstract and Company’s General Business Profile I. U51909MH2007PLC170646 U51909MH2007PLC170646 3 1 Date 1 2 Month 2 0 1 0 Year Rights Issue N I L Private Placement N I L Moblisation Deploymen yment Funds I I I.Additional Information pursuant to part IV of Schedule VI to the Companies Act. erf Compan ompany IV. Performance of Company (Amount in ` Thousands) Revenue 6 1 1 1 0 8 8 Profit Loss efor ore Profit / (-) Loss Before Tax 2 9 1 1 2 2 Earnings per Share (in `) ( 3 . Balance Sheet I I.

Sumit Banerjee who was appointed... 2009 holds office till the date......... Sunil Nayak retires by rotation and is eligible for reappointment....65. FINANCIAL RESULTS in the State of Chattisgarh is in the “No-go Area” of Ministry of Environment & Forest and the Government of India is presently reviewing its policy vis-a-vis coal blocks situated in the “No-go” forest area. OPERATIONS In the year 2009.71... Ravindran in whose vacancy he has been appointed would have otherwise held office i.00...637 46........ Balance Carried to Balance Sheet . K. together with the Audited Financial Statements of the Company for the year ended December 31.... as an Additional Director of the Company with effect from October 14......... 2010 For the year ended December 31. Kuldip Kaura........... the Company had entered into four Joint Venture Agreements with Madhya Pradesh State Mining Corporation Limited (MPSMC) for development and mining of four coal blocks allotted to MPSMC by the Government of India. 2010.. NANCIAL RESUL FINANC 1.. The exploration activity of the two coal blocks viz.. The Board has placed on record its appreciation of the valuable services rendered by Mr......... Mr...............441 46...........869 5........00...... Sumit Banerjee as Chairman of the Company... Bicharpur and Marki Barka situated in Shahdol and Singrauli Districts of Madhya Pradesh respectively have been completed and the Geological Report is under preparation..232 4... his candidature for appointment as a Director is included at Item 4 of the Notice.... Profit After Tax ... The operatons of the Company have not started and in the absence of any trading activity...135 PART ICULAR LARS PART ICU LAR S For the year ended December 31....... one coal block viz.. 2007.. Mr.. DIRECTOR ORS 3. Currently various regulatory clearances are in process for all the above three coal blocks...441 represents the dividend received on investment in mutual funds and other income which is further reduced by administrative expenditure and amortization of miscellaneous expenditure incurred for increasing the Authorised Share Capital of the Company. as a Director of the Company with effect from January 22. 2010.. 1956... Mr. Vivek Chawla.. resigned from the Board of Directors of the Company with effect from August 13..10.. Accordingly.....232 OPERA 2... Out of these four coal blocks.17. Balance brought forward from previous year ..Subsidiary Financial Statements Directors’ Report MEMBER ERS TO TH E MEMBERS OF LIMITED ESOUR MIN ERAL RESOU ACC MIN ERAL RESOURCES LIMITED The Directors have pleasure in presenting the Eighty Second Annual Report. Profit Before Depreciation.. 6... Mr... Morga IV 176 ACC Limited . K..... The Resolution pertaining to his appointment as a Director is included at Item 5 of the Notice....71.. In accordance with the provisions of the Companies Act.637 4.. 2009 ` Sale of products and services & Other income . till the date of this Annual General Meeting...... As an Additional Director Mr. Profit Before Tax ...61.... the other income of `5.61...637 46...097 The Board of Director has appointed Mr.e...61... ` 5...... DI R ECTORS 5.. “Semaria / Piparia” in Umaria District of Madhya Pradesh is an explored coal block and the remaining three coal blocks are in the process of exploration...135 1..135 1. Kuldip Kaura holds office till the date of the forthcoming Annual General Meeting. 2010..... Ravindran with effect from July 16..669 1... who was appointed in the casual vacancy caused by the resignation of Mr.. The fourth Coal Block viz. Interest and Tax .

AU DITORS M/s. the existing Auditors have under Section 224(1B) of the Companies Act. 1975. Sunil Nayak Director 75th Annual Report 2010 177 . Chartered Accountants. 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. K S Aiyar & Co. oreign ex (ii) Foreign exchange and outgo The Company has paid an advance of ` 51. the information under section 217(1)(e) of the Companies Act. furnished a certificate of their eligibility for re-appointment. (iii) that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act. 2011 Registered Office: Cement House. ACKNOWLEDGEMENT Your Directors take this opportunity to express their appreciation of the excellent co-operation received from the Madhya Pradesh State Mining Corporation Limited.500 in foreign currency towards preparation of detailed project report for Semaria Piparia Coal Block. your Directors make the following statement in terms of Section 217(2AA) of the Companies Act. Maharshi Karve Road. D. 2010. For and on behalf of the Board of Directors ORS DITOR 5. 1956. Particulars of Employees The Company has not employed any individual whose remuneration falls within the purview of the limits prescribed under the provisions of Sec 217 (2A) of the Companies Act. 1956: (i) that in the preparation of the Accounts for the year ended December 31.61. Nariman Director Mumbai January 31.. 1956. 1956. 121. the applicable accounting standards have been followed along with proper explanation relating to material departures. if any. DIR ECTORS’ RESPONSIB I LITY STATEMENT To the best of their knowledge and belief and according to the information and explanation obtained by them. Your Directors also acknowledge the unstinting assistance and support received from ACC Limited. B. read with the Companies (Particulars of Employees) Rules. ACKNO KNOWLEDGEMENT 9.MINERALS DIRECTOR RESPONSIB ORS’ ESPONSI ST 4. the Government of Madhya Pradesh and the Company’s Bankers. COMMITTEE 6. Mumbai 400 020 Mr. 1956 read with Rule 2 of Companies (Disclosure of Particulars in the Report of Board of Directors) Rules. AU DIT COMMITTEE The paid up Share Capital of the Company is less than Rupees Five Crores and hence the Company is not required to constitute an Audit Committee under the provisions of Section 292A of the Companies Act. 1988 is Nil. its holding Company and all the employees for their valuable contribution during the year. (ii) that such accounting policies as mentioned in Note 1 of the Notes to Accounts have been selected and applied consistently and judgments and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at December 31. PAR T ICU LAR S OF C ONSER VAT ION OF EN E R G Y CH NOLO ABSORP AND FOREIGN T E C H NOL O G Y ABSOR P T ION AN D FOR EIGN EAR ARN AND OUT EXC HANGE EARN I NGS AND OUTGO Energ Conser onserv echnology (i) Energ y Conservation & Technology Absorption In the absence of any manufacturing activity. 2010 have been prepared on a ‘going concern’ basis. articulars Employ 8. (iv) that the Accounts for the year ended December 31. PART ICULAR LARS CONSER ONSERV ENE RG 7. The Members are requested to re-appoint them as Auditors of the Company for the year 2011. 2010 and of the profit of the Company for the year ended on that date. Mr.

financial statements of the Company and our audit of its four joint venture companies for the limited purpose of consolidation. we are of the opinion that: a) The Consolidated Balance Sheet gives a true and fair view of the consolidated state of affairs of the Company as at 31st December. We believe that our audit provides a reasonable basis for our opinion. on a test basis.100186W S. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit also includes assessing the accounting principles used and significant estimates made by management. 3. We conducted our audit in accordance with auditing standards generally accepted in India. These financial statements are the responsibility of the Company’s management. 2. 2006. evidence supporting the amounts and disclosures in the financial statements. b) The Consolidated Profit and Loss account gives a true and fair view of the consolidated Loss of the Company for the year then ended. Mumbai DATE: January 31. 2011 For K. as well as evaluating the overall financial statement presentation. annexed thereto. An audit includes examining. 1.Subsidiary Financial Statements Auditor’s Report TO THE BOARD OF DIRECTORS. Joshi Partner Membership No. On the basis of the information and explanation given to us and on the consideration of the separate audit report on standalone We have audited the attached Consolidated Balance Sheet of ACC MINERAL RESOURCES LIMITED wherein is included its proportionate share in four joint venture companies. S. and also the consolidated Profit and Loss Account and the consolidated Cash Flow Statement for the year ended on that date. Aiyar & Co. as at December 31. We report that the consolidated financial statements have been prepared by the Company’s management in accordance with the requirements of Accounting Standard (AS) 27 Financial Reporting of interests in Joint Venture Companies issued by the Central Government under Companies (Accounting Standards) Rules. 2010. Rajesh S. Our responsibility is to express an opinion on these financial statements based on our audit. Aiyar Co Chartered Accountants Firm Registration No. and c) The Consolidated Cash Flow Statement gives a true and fair view of the consolidated cash flows of the Company for the year then ended. on the Consolidated Accounts of ACC Mineral Resources Limited 4.38526 178 ACC Limited . 2010. S.

....080..............14) 571.814.050.096...............00 Investments ............717...196.............00 443.....00 38...90 100 4... January 31............. 2009 465. Joshi Partner Membership No........00 9.........................135..........00 43.... S.........669.......666.....041....00 49.917..........00 6............. 38526 Mumbai.......00 571.................... Joshi Partner Membership No.669... 100186 W iwari T.. Miscellaneous Expenditure ............828..................878............. 2010 Schedules SOUR FU SOUR C ES OF FU N DS : Shareholders’ Funds : Share Capital . 38526 For and on behalf of the Board of ACC Mineral Resources Limited.......00 201....300....... Profit (Loss befor axa oss) ore Profit / (Loss) before Taxation ......662..00 443...00 4...... Consultancy charges ..... Aiyar & Co..... (1........ Loans and Advances ...........466..........................000... 3 12..371..............14 - 80.....00 (4..135.960.........290..479.089......................... Balance brought forward from previous year Carried Balance Carried to Balance Sheet ...... 7 8 3.................010..496..................20 9........000. Loans and Advances : Cash and Bank Balances ....000.655......00 297............00 198..........................232.......... Notes to Accounts ....251..................... The schedules referred to above and notes to accounts form an integral part of the Balance Sheet As per our report of even date S......00) (1. 10 (10......................000............................918.00 15..............371............00 80.....692.............................275..... Provision for Taxation Deferred Tax ......20 59. Provisions .............. 2010 ` As at December 31... Interest Received ...........232........................... 10 9 56.......... Face Value per Share .............. FU TOTAL FU N DS ..00 1.........00 17....00 Basic and Diluted Earnings per Share .00 51. 5 6 3..Consolidated Balance Sheet as at December 31........ (5..........700...462......165.....088.000...86 992.....20) 100 0....000.......00 106............ General Charges .... Deferred Tax Asset ......00 51.....097....699........166..500..00 49....... 2010 Schedules NCO I NCOME: Dividend Received .......... 2010 For the year ended December 31........................ 2009 Consolidated Profit and Loss Account for the year ended December 31......00 563................483..469.... Preliminary Expenses .... Other Income .............00 410...030.818.. Travelling Expenses ..........................000..953..................00 As at December 31....983........... APPLICA FU APPLICATION OF FU N DS : Fixed Assets Gross Block ..........00 1...00 48.........00 6..................20 Net Current Assets ... R ajesh S.384...00 9....079..........00 50..... January 31.. 2011 Kumar Sonthalia Dinesh Kumar Sonthalia Company Secretary 75th Annual Report 2010 179 .....86 55............ Bank Charges ..........361...00 161.........................071.....00 15.....534.........264...00 4 1...804.......479.124..........00 465..00 310.................. Capital Work-in-progress ..... Chartered Accountants Firm Registration No..00 4......................................386.14) MINERALS ` For the year ended December 31............86 62...................................00 161...684. S. Tiwari Nay Sunil Nayak S............86 XPENDIT DITU E XPEN DITU R E: Auditor’s Fee .........232..............627...............................................00 12.697..00 Loan Funds : Unsecured Loans ......00 4....................697................ Tiwari Nay Sunil Nayak S.. Rent .. Notes to Accounts ..... 100186 W iwari T........164...650... R ajesh S.........256..........680............................00 571...... Chartered Accountants Firm Registration No.......00 3.708.021......................... Printing & Stationery .00 1...... Less: Depreciation / Amortization .00 31.............................500.....00 The schedules referred to above and notes to accounts form an integral part of the Profit and Loss Account As per our report of even date S.500..... } Director Kumar Sonthalia Dinesh Kumar Sonthalia Company Secretary } Director Mumbai... Aiyar Co For K....00 9..... (to the extent not written off or adjusted) Profit & Loss Account .....06 Less : Current Liabilities and Provisions : Current Liabilities .....000........143......... Depreciation on Digital Camera ..232..00 52.................. ASSET (NET SSETS ET) TOTAL ASSETS (NET ) .....232............... Aiyar & Co..........655..00) Profit (Loss Af oss) Profit / (Loss) Af ter Tax ............232..... Current Assets......500........................747....................N..............500..... 496.650....... Aiyar Co For K.......150.........264...... Reserves and Surplus ..00 (6...... Miscellaneous Expenditure written off ..N...........041.......................... Net Block .196...... 2011 For and on behalf of the Board of ACC Mineral Resources Limited.....888....... 1 2 49..........14) 170..........................661.697.281.196......

..14) 161.............469...................00 50.....281..86) (7........00 } Director Dinesh Kumar Sonthalia Kumar Sonthalia Company Secretary 180 ACC Limited .............000....685.....135..N.........Opening Balance ..............850.........00) (304.....................578.. 2010 ` For the year ended December 31.345........00) 465...................................00 (44............ Adjustments for : 3 4 5 Other receivables . Aiyar & Co............... Tiwari Nay Sunil Nayak S............095........ Joshi Partner Membership No.Subsidiary Financial Statements Consolidated Cash Flow Statement for the year ended December 31.00 (53..........000................................. B......164.......00) (6.382.....300........... Rajesh S................888........................................707....00 (1................00) 9......... 3 Cash and Cash Equivalents is Cash and Bank Balance as per Balance Sheet.............. (17....... Adjustments for : 2 Interest and Dividend Income ............................................ C...........................00 For the year ended December 31................883...........786...............00 3... Trade payables ............................888...251..........00 29..................747.20) (6........000.................... increase (decr decrease) equivalen alents Net increase / (decrease) in cash and cash equivalents ................000..........................612.......124............00) (15.........817...669.....251................ 100186 W iwari T.......................................... 2011 For and on behalf of the Board of ACC Mineral Resources Limited............ Sale / Redemption of Investments ................ 2010 A.................000............................................. Cash flow from operating activities 1 Net Profit / (Loss) before Tax .. (40...... Cash flow from investing activities 6 7 8 9 Purchase of Fixed Assets ...... Cash flow from financing activities 10 Proceeds from issue of Share Capital ...........................................................................297............................... Interest and Dividend received .669.... Cash and cash equivalents ........................... 29..... Notes : 1 All figures in brackets are outflow 2 Previous Period’s figures are regrouped / rearranged wherever necessary............86 26.00) (465.........................................................................................067......................86 201..300.......................................................................80) 297............ Miscellaneous Expenditure ...............692..... inv activities Net cash used in inv esting activities ................00) 922....................00) Cash from opera activities Net Cash flow from operating activities ..... 38526 Mumbai.........000......................124....................00 201... January 31.......86 (43....... Purchase of Investments .....944.917......................236...........290.................................212.00) 43.......00 2.076......................534....... 2009 Operating profit before working capital changes ..............804.........850.......................................................816.............00 1.....................00 563....... (563.....................................466..86 49.......................308...........Closing Balance ............................................00 (6.....00 (721.......00) 10 Miscellaneous Expenditure . activities Net cash used in financing activities ........088..........310..................................... As per our report of even date For K........................ S..058.. ...................... S............. 11 Proceeds from Short term Borrowings ...........708................... Aiyar Co Chartered Accountants Firm Registration No....886.....281......................

...653.699 Deductions/ Adjustments As at 31/12/2010 2....... RESERVES AN D SU R PLUS 49............251..00 - 49........000..5.......000.. 866.....427 6....000.500....... Pending Registration SCHEDULE INVES MENTS NVEST SC H EDU LE . Notes: As at 1/1/2010 Additions during the year 2.............. 2010 As at December 31.4.................2....... SCHEDULE CA AND BAN BALANC ANK ALANCES SC H EDU LE ..427 5......000............86 1................500....................258 paid as advance towards purchase of Land..............000 Equity Shares of ` 100 each ..... 2010 5...653...........000 Equity Shares of ` 100 each..00 49.000...088..........................814....888..00 49.00 2.......... 2009 200.. (All the Shares are held by ACC Limited. 2009 - - 43...00 ` AMRL As at December 31...................996. BSCR PAI UP AID ISSUED...86 200....000 12........000.. TOTAL ....000 12.00 49......500.....701............ fully paid .....00 43.829 9............272 9............... ISSUED SUBSC ED.. TOTAL ....Quoted: Baroda Pioneer Liquid Fund ....216......... CASH AND BAN K BALANCES - Joint Venture Total As at December 31.................000...............500.... INVESTMENTS ` AMRL As at December 31................000 12..164. 2010 1............ 2.....655.............. 2010 - As at December 31.....661 As at 31/12/2009 - Land includes ` 12.000........................000.............00 1.........................272 9............ SHARE CAPITAL MINERALS ` AMRL As at December 31.000............000....171..........164...... Intangible Assets ........ 2010 Current Investments Others....00 49........888...427 6............. 2010 200.000............ Previous Year ...............00 ` Depreciation/Amortisation eciation/Amortisa Depreciation/Amortisation Provided during the year 443 443 Deductions/ Adjustments As at 31/12/2010 443 443 Net Block As at 31/12/2010 2...... Cash on Hand .....................00 1.375......24.00 571.000......... 2010 As at December 31............ TOTAL .00 Joint Venture Total As at December 31........1... 2010 - As at December 31.. 2010 1.......911..............00 201.......789.................. 2010 Profit & Loss A/C ....... SCHEDULE ASSET (Consolidated) SSETS SC H EDU LE 3 : FIXED ASSETS (C onsolidated) Gross Gross Block Nature of fixed assets Land ........911...... SU BSC R I B ED & PAID U P 495.. HORISED AUT HORISED 2.. the Holding Company and its nominees) TOTAL ..86 872.......00 75th Annual Report 2010 181 .00 As at December 31................ Digital Camera ..........500..256 4............. 2009 580...655.............375................Schedules forming part of the consolidated Balance Sheet SCHEDULE SHARE CAPIT APITAL SC H EDU LE .251....000.....500.. 2........ 2009 571.............996........281.789..............000..........655...996...................... TOTAL ... 2010 - As at December 31......00 200.699 As at 1/1/2010 - Joint Venture Total As at December 31.00 ` AMRL As at December 31.. In Fixed Deposit Accounts ......00 305...00 As at December 31.......653. 2010 - As at December 31.000........232... Balances With Scheduled Banks In Current Account .. Capital work-in-progress ................ SCHEDULE RESER ESERVES AND SUR PLUS SC H EDU LE ....232......86 5....00 Joint Venture Total As at December 31.....................................000.............00 3..................

2009 13....500.00 39..............983.....................079.........546...7........................ Advance to others ..........00 2................. TOTAL ..............166........962...477...20 Joint Venture Total As at December 31.00 992............. Accrued Interest ... 9..............230...........00 SCHEDULE ...........00 9........................9......................798............... MISCELLANEOUS EXPENDITURE (To the extent not written off or adjusted) ` AMRL As at December 31............500.... (Net off amortisation) ...00 48.... 2010 9....... 2010 2...174...........717. 2010 - As at December 31.............. 2010 7............................. unless otherwise stated) ` AMRL As at December 31........00 As at December 31...........066........00 SCHEDULE ...........824....981............... 2009 9.........8......... 2010 39.. TOTAL .............20 52.......... Considered Good......... 2009 8..00 13...........500.....500.............662.546.............900....................00 8... TOTAL ........080.......200... 2010 Advances Recoverable in cash or in Kind of for value to be received Considered Good Advances to Joint Venture Companies .966......00 9..............916..... 2010 Provision for Taxation .........500...290.290.....................00 8.............662.................00 55.............. 2010 - As at December 31................ 2010 Expenses incurred for increase in Authorised Share Capital ........735...........20 197.00 182 ACC Limited ........00 55............ 992............953........... Advance Payment Against Taxes .........200.................... CURRENT LIABILITIES ` AMRL As at December 31....Subsidiary Financial Statements Schedules forming part of the consolidated Balance Sheet SCHEDULE ..........500...261.00 Joint Venture Total As at December 31......00 15...............662...............00 48.........00 Joint Venture Total As at December 31................00 52..............500...........20 157..........00 3......20 As at December 31.......... Other Sundry Creditors ...500..466.. 2010 Sundry Creditors Payable to the Holding / Strategic Partner ...............00 9.00 As at December 31..................00 1......... 7...............916.....................824.....................100.00 As at December 31...............500......021...00 SCHEDULE .................500. 2009 1....00 2.......782........947...... 2010 992...6....462........... 2010 52.717.900.......00 992....................... 2..............20 As at December 31.662...00 9...20 8.............500........................20 Joint Venture Total As at December 31.. LOANS AND ADVANCES (Unsecured..717......066...775... TOTAL .00 As at December 31.........466. Other Liabilities ................500...... PROVISIONS ` AMRL As at December 31..............00 330...............174.

are recognised as income or as expenses in the year in which they arise. As the company has not yet started its commercial activities. MP AMRL (Bicharpur) Coal Company Limited.P. 3. Foreign currency monetary items are subsequently reported using the closing rate. Provision for diminution in the value of long term investments is made only if such a decline is other than temporary in nature. 2006.e. Income taxes F) Income taxes Tax expense comprises of current and deferred tax. prescribed by the Central Government. is to be amortized on the basis of extraction of coal in proportion to the available mineable reserves of coal. actual results could differ from these estimates. or reported in previous financial statements. unless the possibility of an outflow of resources embodying economic benefit is remote. The intangible fixed assets i. Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligation at the balance sheet date. 2010 prepar epara 1. 2006. (II) estimates (I I) Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period end. (II Significant Accoun ounting Policies (I I I) Significant Accounting Policies rec ecognition A) Re venue recognition Inter terest income Dividend and Interest income Dividend income is recognised when the right to receive such dividend is established. Segment Repor eporting H) Segment Repor ting The company operates in one business segment i. deferred tax assets are recognized only if there is virtual certainty of realization of assets. A provision is recognized when an enterprise has a present obligation as a result of past event. expenses for regulatory clearances. 1956 and comply with the mandatory Accounting Standards (AS) specified in the Companies (Accounting Standard) Rules. exploration and evaluation of coal 2. (ii) Capital work-in-progress includes expenses on account of prospecting. mineral rights of coal. Where there is unabsorbed depreciation or carry forward losses. The consolidated financial statements comprises of the financial statements of ACC Mineral resources Limited (the company) and its 49% share in the four joint venture companies namely MP AMRL (Semaria) Coal Company Limited. The value of mineral rights of coal may increase to the extent of further allotment of equity share capital to MPSMC. Accordingly all the assets. MP AMRL (Marki Barka) Coal Company Limited and MP AMRL (Morga) Coal Company Limited.e. Interest income is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable. ‘Financial Reporting of Interests in Joint Ventures’ issued by the Central Government under the Companies (Accounting Standard) Rules. in respect of which reliable estimate can be made.Notes to Accounts AC OUNT NTS NOT CONSOLI ONSOLID Schedule –10. State Mining Corporation Limited (MPSMC) in lieu thereof in terms of the provisions of Joint Venture Agreement. Exchange differences arising on the settlement of monetary items or on reporting company’s monetary items at rates different from those at which they were initially recorded during the year. exploration and evaluation asset etc. These are reviewed at each balance sheet date and adjusted to reflect the current best estimate. NOTES TO CONSOLI DAT ED ACCOUNTS AC OUNT NTS NTI POLIC OLICI AND NOT FORMING PAR ART SIGNI FICANT AC OUNT SIGN I FICANT ACCOU NTI NG POLICI ES AN D NOT ES FORMI NG PART OF TH E ACCOUNTS EMBER ENDED DECEMB FOR T H E YEAR EN DED ON DECEMB ER 31. Long term investments are carried at cost. Depreciation on tangible fixed assets is provided on straight line method at the rates prescribed in schedule XIV of the Companies Act. (I) Basis of preparation (i) The financial statements have been prepared and presented under the historical cost convention on accrual basis of accounting in accordance with the accounting principles generally accepted in India and in compliance with provisions of the Companies Act. Mineral rights of coal has been recognized as intangible assets and valued equivalent to the Equity share capital allotted to The M. incomes and expenses of the joint venture companies have been included to the extent of 49% representing the company’s share in these consolidated financial statement of the company. ixed B) Fixed Assets (i) Tangible fixed assets are stated at the cost of acquisition less depreciation. Contingent Liabilities not provided for ` Nil Estimated amounts of contracts remaining to be executed on capital account and not provided for (net of advances) ` Nil 75th Annual Report 2010 183 . oreign currency transac ansactions E) Foreign currency transac tions Foreign currency transactions are initially recorded at the rates of exchange prevailing on the date of transactions. there are no reportable geographical segments. (iv) The Consolidated financial statements are prepared in accordance with the Accounting Standard 27. Although these estimates are based upon management’s best knowledge of current events and actions. This business segment is regarded as the primary segment. Deferred tax assets/liabilities are reviewed as at each balance sheet date. (ii) Financial statements are based on historical cost except where impairment is made and or revaluation is carried out. Other deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future. ontingencies Pro G) Contingencies / Provisions Deprecia eciation Amortiz tiza C) Depreciation / Amortization MINERALS mines etc. it is probable that an outflow of resources embodying economic benefit will be required to settle the obligation. liabilities. Investments D ) Investments Current investments are carried at lower of cost and fair market value. The deferred tax charge or credit is recognized using current tax rates. 1956 on a pro-rata basis. Development and operation of coal mines. A contingent liability is disclosed. These expenses are carried forward and will be capitalized once the mine starts the commercial production. Non-monetary items which are carried in terms of historical cost denominated in a foreign currency are reported using the exchange rate at the date of the transaction. (iii) Accounting policies have been consistently applied by the Company except as stated otherwise.

..09.. Limited Alcon Cement Company Pvt. Holcim ( Canada) Inc...000/-is being amortized over a period of 60 months commencing from May 2009......496) 4.20) For the year ended December 31....50......09. (There are no diluted equity shares and hence there is no working for diluted earning per share) 184 ACC Limited ..000 13......... 2010 311........... However the income tax liability. if any. Belgium Holcim Vietnam elationship Natur ture Rela Nature of Relationship Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Entity Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company ansactions Compan ompany (B) Transac tions with Holding Company Particulars For the year ended December 31... Outstanding balance included in Current Liabilities (Net) ..90 Profit/(Loss) after taxation as per Profit and Loss account .... Ltd...000 13. Limited Siam City Cement Company Limited National Cement Factory Holcim Environment Services Sa..` 100 per share) ...000 (10..35......97......... ACC Concrete Limited Lucky Minmat Private Limited National Limestone Company Pvt.... Miscellaneous Expenditure Expenses incurred in connection with increase in Authorised Share capital amounting to ` 14... Siam City Concrete Co.....Subsidiary Financial Statements Expenditur xpenditure 4.. Ltd............[EPS ] Share [EP ` Particulars For the year ended December 31..000 - ` For the year ended December 31.. However the Deferred Tax Asset (DTA) has been created in Joint Venture Companies as below: Description Value As per Books Books Preliminary Expenses elated Par Disclosure arty 6.......... Related Par ty Disclosure (A) Par ticulars of Holding / Associate Companies Par articulars Associate Companies Rela elated Par arty Name of Related Par ty ACC Limited Bulk Cement Corporation (India) Ltd......78. Inter Corporate Deposits paid during the year ..344 Difference Difference DTA @ 33...........00.. axa 5. Basic earnings per Share (Weighted Average) in ` (face value ..196 Rela elated Par arty Name of Related Par ty Holcim Singapore Limited Holcim Trading FZCO Holcim (Lanka) Ltd..00.........00...........135 1...... Ltd.... Associate Company of Holding Company Ambuja Cement India Private Limited Promoter Group Company of the Holding Company Ambuja Cements Limited Promoter Group Company of the Holding Company Holderind Investments Limited Promoter Group Company of the Holding Company Holcim (India) Private Limited Promoter Group Company of the Holding Company Holcim Service (Asia) Limited Promoter Group Company of the Holding Company Holcim (Bangladesh) Limited Promoter Group Company of the Holding Company Holcim Group Support Limited Promoter Group Company of the Holding Company Value as per Income Income Tax 51.261 1 2 3 4 Inter Corporate Deposits Received During The Year ....000 87......61.... Taxation No provision for current tax is made as at 31st December 2010 in absence of any taxable income...... Weighted average number of Equity shares outstanding ... 2010 (50... Inter Corporate Deposits as at the end of the year . Natur ture Rela elationship Nature of Relationship Holding Company Fellow Subsidiary Company Fellow Subsidiary Company Fellow Subsidiary Company Fellow Subsidiary Company Associate Company of the Holding Company Encore Cement and Additives Pvt.....2175% 16.............50...........50... Earnings per Share .89.. 2009 13....... of the company would be determined on the basis of its results for the fiscal year ending on 31st March 2011. 7........... 2009 1........... MP AMRL (Semaria) Coal Company Limited Fellow Subsidiary Company Joint Venture Company (49% interest in Equity is held by AMRL) MP AMRL (Bicharpur) Coal Company Limited Joint Venture Company (49% interest in Equity is held by AMRL) MP AMRL (Marki Barka) Coal Company Limited Joint Venture Company (49% interest in Equity is held by AMRL) MP AMRL (Morga) Coal Company Limited Joint Venture Company (49% interest in Equity is held by AMRL) Asian Concretes & Cements Pvt.95...000 311.. P T Holcim Indonesia Tbk Holcim Services (South Asia) Limited Holcim Foundation Holcim Ltd.......344 51........178 0.......................

...... 2011 } Director Kumar Sonthalia Dinesh Kumar Sonthalia Company Secretary 75th Annual Report 2010 185 .000 25. Chartered Accountants Firm Registration No.0063 No. Outstanding balance included in Current Assets .... No...68. 100186 W For and on behalf of the Board of ACC Mineral Resources Limited..000 December 2010 are not strictly comparable with the previous year’s figures due to the fact that investments in all four joint venture companies have been made in the current financial year........32.000 As per our report of even date S.000 ` For the year ended December 31... 2009 ( J VC) 14.77.68.. Payment made in foreign currency Technical Fees: ` 57.000 20.. January 31. Aiyar Co For K. 20. 14.. The figures of the consolidated financial statements for the year ended 31st Audit Fees ..... 64..........172 3..000 - - 15.. Expenses Reimbursed TOTAL ...97.. (iii) Fees for financial Reporting package (iv) Consolidation of Accounts .of Joint Venture Companies.. of Units 43..25. R ajesh S.000 yment Statutor Auditors: tutory 9.069/....16... Transac tions with Joint Venture Companies ture ansactions Joint entur Companies ` For the year ended December 31..including ` 6..000 - 36..68...... 25...700 36...162 ` 4.... Reimbursement of expenses from JVC .. The same shall be allocated to respective Coal Block’s Joint Venture Company once the activity is complete and Geological Report and Detailed Project Report is prepared. 2010 31........462 For the year ended December 31........ 1956 is not applicable in absence of any commercial activity................... S.... of Units 43..... 13.....44.. (ii) Audit for Tax Purpose A/c .06.for carrying out the exploration activity of its Coal Blocks..000 1... For other services (i) Limited Review ........800 ` 4..26..046/.N..000 - 20....... Aiyar & Co.... Joshi Partner Membership No. yment for oreign currency 12.. 2010 1 2 3 Advances given to Joint Venture Companies (JVC) ..40.56.. 1. During the year the Company acquired and sold the following units of its investment in Baroda Pioneer Liquid Fund and LIC Mutual Fund...000 Face Value 10.. Payment to Statutor y Auditors: Par ticulars articulars For the year year ended December 31.. 2009 3. No.. Previous year’s figures have been regrouped/ rearranged wherever necessary to make them comparable with current year’s figures... Advances to others include ` 4...70..00 No..569/.700 25..32..700 1...000 1.000 For the For the year year ended year ended December December 31.710 1. 38526 Mumbai. 25. Baroda Pioneer Fund Description Redemption of Investment LIC Mutual Fund Description Acquisition & Redemption Face Value 10..888 10......MINERALS 8.000 36.700 50.....000 14... 2010 11... 2010 (AMR L) (AMR MRL) 50...000 iwari T. Tiwari Nay Sunil Nayak S..86.. Other Additional information pursuant to the provisions of paragraph 3 & 4 of the part II of schedule VI to the Companies Act.99.51..

Abstrac act Company’s General ompany’ Profile Balance Sheet Abstract and Company’s General Business Profile I. Expenditure 9 9 3 Investments N I L Unsecured Loans 3 1 1 5 0 Total Assets 8 3 6 8 1 Reserves & Surplus N I L N I L State Code 1 1 raised year Capital raised during the year (Amount in ` Thousands) Public Issue N I L Bonus Issue 186 ACC Limited . 2 0 ) V. 2 0 ) Earning per share after Extraordinary Item in ` ( 1 0 . egistra Registration Details Registration No. Three Products/Services oducts/Ser Compan ompany Generic name of Three Principal Products/Services of Company (as per monetary terms) Item Code No. Position of Mobilisation and Deployment of Funds (Amount in ` Thousands) Total Liabilities 8 3 6 8 1 Sources Funds Sources of Funds Paid-up Capital 4 9 5 0 0 Secured Loans N I L Application Funds Application of Funds Net Fixed Assets 1 7 4 7 0 Net Current Assets 5 6 0 1 1 Accumulated Losses 4 4 7 9 IV. Balance Sheet Date I I. erf Compan ompany IV. 1956. (ITC Code) N I L Total Expenditure 7 3 1 1 Profit Loss Profit / Loss After Tax 5 0 5 1 Dividend Rate % N I L Misc. Performance of Company (Amount in ` Thousands) Turnover N I L Profit Loss efor ore Profit / Loss Before Tax 6 7 4 8 Earning per share before Extraordinary Item in ` ( 1 0 . U10100MH1930PLC001612 U10100MH1930PLC001612 3 1 1 2 2 0 1 0 Rights Issue N I L Private Placement N I L Mobilisation eploymen yment Funds I I I.Subsidiary Financial Statements Additional Information pursuant to part IV of Schedule VI to the Companies Act.

15 lacs for the year 2010.93 For the year ended December 31.93 lacs as compared to a loss of `195. I N DUSTR IAL RELATIONS During the year under review. 2009 1.8%. Own Generation Consumption / Unit of Production Electricity (Unit/MT) 2. industrial relations at the Company’s unit continued to remain cordial and peaceful. Services and Other Income Profit/(Loss) Before Tax Provision for Taxation Current Tax Short Provisioning in Income Tax in respect of earlier years Deferred Tax Fringe Benefits Tax 1.60 6.10 75th Annual Report 2010 187 .355. 2.730 152. Electricity Units Purchased KWH Total Amount Rate/Unit in `/KW b. 1988. The Company continued to operate at unity power factor throughout the year. In all 336 rakes were received during the year 2010 as compared to 315 rakes received during the year 2009. 1. PART ICU LAR S OF CONSERVAT ION OF EN ERGY. the particulars in respect of conservation of energy.19 5.21 (88.23 - Profit/(Loss) after Taxation Balance brought forward Balance carried forward to Balance Sheet 38. 2010.89 (195.11 Units/T for the year 2009. read with the Companies (Disclosure of Particulars in the Report of the Board of Directors) Rules. ARTICULAR LARS CONSER ONSERV ENER ERG 5.15 lacs MT in the corresponding period of the previous year which is higher by 12. 1956.83 993.89 Units/T was lower by 7% as against 3.71 For the year ended December 31. FINANCIAL RESULTS ESUL NANCIAL RESU FINANC (` Lacs) PARTICULARS For the year ended December 31. ELAT RELA DUST 4. Net profit after tax for the year 2010 is `38.62 47. 2010 26.58 lacs. technology absorption and foreign exchange earnings and outgo are mentioned herein below: “A FORM “A” Form for Disclosure of Particulars with respect to Conservation of Energy. 2009 2524440 141.59 - 2.58) 1. OPERA 2.50 9.85 5. a. The despatches for the year 2010 were so far the highest achieved by your Company.11) (107. DIVIDEN DEND 3.69) The specific power consumption for the year 2010 at 2. in the previous year.81 993. 2010 were 9.69 lacs in the previous year.89 3. DIVIDEND Your Directors donot recommend any dividend for the financial year ended December 31. 2010 Sale of Products.23 1.100.75. Power and Fuel Consumption: (`) PARTICULARS For the year ended December 31.202.00 (91. CH NOLO ABSORP AND FOREIGN T E C H NOL O G Y ABSOR P T ION AN D FOR EIGN EAR ARN AND OUT EXC HANGE EARN I NGS AND OUTGO As required under Section 217(1)(e) of the Companies Act. The incentive received for maintaining unity power factor was ` 11. 2010.032.Directors’ Report TO THE MEMBERS OF BULK CEMENT CORPORATION (INDIA) LIMITED The Directors hereby present the Nineteenth Annual Report on the business and operations of the Company and the Audited Accounts for the year ended December 31.32) 0 . 1. OPERAT IONS The total despatches for the year ended December 31.10 3.06 The profit before tax for the financial year under review was `47.18 lacs MT compared to 8.83 lacs as compared to a net loss of `107.

2011. 1956. The Board has placed on record its appreciation of the valuable services rendered by Mr. J DattaGupta retire by rotation and are eligible for re-appointment. Department of Industrial Policy & Promotion as a Director of the Company with effect from July 19. resigned from the Board of Directors of the Company with effect from January 3. The Government of India. Shashi Ranjan Kumar as a Director of the Company. Mr. Shashi Ranjan Kumar (IAS). In accordance with the provisions of the Companies Act. DIR ECTORS The Government of India. Ms. Foreign Exchange Earned Foreign Exchange used The Company has not entered into any technology transfer agreement. has pursuant to its rights under the Company’s Articles of Association. 2010 - For the year ended December 31. The Board has placed on record its appreciation of the valuable services rendered by Mr. nominated Mr. Shashi Ranjan Kumar (IAS). 2009. Banerjee as a Director of the Company. Shyamal Misra and Mr. Talleen Kumar (IAS). The Board has appointed Mr. 2010. Kuldip Kaura hold office till the date of the ensuing Annual General Meeting of the Company. Renu Sharma as a Director of the Company. has pursuant to its rights under the Company’s Articles of Association. nominated Mr. 2007 resigned from the Board of Directors of the Company with effect from August 13. 2010 in place of Mr. The Board has placed on record its appreciation of the valuable services rendered by Ms. The Board has placed on record its appreciation of the valuable services rendered by Mr. the Resolutions pertaining to their appointments as Directors are included at Items 5 to 7 of the Notice. 2010. Renu Sharma (IAS). read with the Companies (Particulars of Employees) Rules. resigned from the Board of Directors of the Company with effect from July 19. 2008. who was appointed as a Director of the Company with effect from October 29. 2010 in place of Ms. 2010. 2009 - As Additional Directors. Talleen Kumar. Ministry of Commerce & Industry as a Director of the Company with effect from July 19. Accordingly. 188 ACC Limited . 1956 Mr. PARTICULARS OF EMPLOYEES The Company has not employed any individual whose remuneration falls within the purview of the limits prescribed under the provisions of Section 217(2A) of the Companies Act. ARTICULAR LARS EMPLO 6. Ministry of Commerce & Industry. Kuldip Kaura as an Additional Director of the Company with effect from October 18. Renu Sharma (IAS) who was appointed as a Director of the Company with effect from July 17. Ravinder Mohan who was appointed as a Director of the Company with effect from June 9. Deputy Secretary. DIR ECTOR ORS 7. Mr. Ravinder Mohan as a Director of the Company. Joint Secretary. Mr.Subsidiary Financial Statements Disclosure of particulars with respect to Foreign Exchange Earning and Outgo PARTICULARS For the year ended December 31. Sunil Nayak and Mr. resigned from the Board of Director of the Company with effect from July 19. Mr. 2007. Mr. Shyamal Misra (IAS). 2010. 1975. Sumit Banerjee who was appointed as a Director of the Company with effect from February 12. Ministry of Commerce and Industry.

AU DIT COMMITTEE The Audit Committee comprises the following Members: Mr. your Directors make the following statement in terms of Section 217 (2AA) of the Companies Act. ii) that such accounting policies as mentioned in Note 1 of the Notes to the Accounts have been selected and applied consistently and judgements and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of the affairs of the Company as at December 31. the applicable accounting standards have been followed along with proper explanation relating to material departures. 2010 four Audit Committee Meetings were held. Burjor D. 1956. K S Aiyar & Co.. ACC Limited and Company’s Bankers. Ministry of Railways. 1956. who was the Chairman of the Audit Committee ceased to be on the Committee consequent upon his resignation from the Board of Directors with effect from July 19. for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. iv) that the accounts for the year ended December 31. DIR ECTORS’ RESPONSIBI LITY STATEMENT To the best of their knowledge and belief and according to the information and explanations obtained by them. 2010. AU DITORS M/s. Shashi Ranjan Kumar (IAS). 2010 have been prepared on a going concern basis. i) that in the preparation of the Accounts for the year ended December 31.DIRECTOR RESPONSIB ORS’ ESPONSI ST 8. Mr. Ramit Budhraja Mr. the Auditors of the Company have under Section 224(1B) of the Companies Act. Ramit Budhraja Director Mumbai Date: January 31. Your Directors also thank all the employees of the Company for their valuable service and support during the year. Sunil Nayak Mr. iii) that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act. During the year ended December 31. Shyamal Misra (Chairman) Mr. ORS DITOR 10. Chartered Accountants. 2010. The Members are requested to re-appoint them as Auditors of the Company for the year 2011. 2010 and of the Profit of the Company for the year ended on that date. furnished a certificate of their eligibility for re-appointment. 2011 Sunil Nayak Director 75th Annual Report 2010 189 . Sankarsan Dasgupta For and on behalf of the Board. COMMITTEE 9. AC KNOWLEDGEMENT Your Directors take this opportunity to express their grateful appreciation of the excellent assistance and co-operation received from the Department of Industrial Policy & Promotion. 1956. Ministry of Commerce & Industry. Nariman Mr. KNOWLEDGEMENT 11. if any.

Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account. proper books of account as required by law have been kept by the Company. in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: i) in the case of the Balance Sheet. and also the Profit and Loss Account and the Cash Flow Statement for the year ended on that date. 2003 (as amended) (‘the order’) issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act. e) on the basis of the written representations received from the directors. and We have audited the attached Balance Sheet of BULK CEMENT CORPORATION (INDIA) LIMITED. ii) in the case of the Profit and Loss Account. As required by the Companies (Auditor’s Report) Order. Our responsibility is to express an opinion on these financial statements based on our audit.Subsidiary Financial Statements Auditor’s Report 1. as at December 31. 4. 2011 For K. we report that: a) we have obtained all the information and explanations. we report that none of the directors of the Company are disqualified as on December 31. 1956. 100186W S. of the Profit of the Company for the year ended on that date. Place: Mumbai Date: 28th January . These financial statements are the responsibility of the Company’s management. of the state of affairs of the Company as at December 31. 1956. 2. Further to our comments in the Annexure referred to in paragraph 3 above. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. to the members of Bulk Cement Corporation (India) Limited c) the Balance Sheet. and taken on record by the Board of Directors. as on December 31. An audit also includes assessing the accounting principles used and significant estimates made by management.: 38526 iii) in the case of the Cash Flow Statement. An audit includes examining. annexed thereto. f) in our opinion and to the best of our information and according to the explanations given to us. in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act. 2010 from being appointed as a director. Rajesh S. of the cash flows for the year ended on that date. the said accounts give the information required by the Companies Act. Aiyar & Co. which to the best of our knowledge and belief were necessary for the purposes of our audit. 190 ACC Limited . S. Joshi Partner Membership No. S. 1956. d) in our opinion. Aiyar Co Chartered Accountants Firm Registration No. as well as evaluating the overall financial statement presentation. on a test basis. we enclose in the annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order. evidence supporting the amounts and disclosures in the financial statements. 3. We conducted our audit in accordance with auditing standards generally accepted in India. Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act. 2010. 2010. 1956. 2010. b) in our opinion. so far as appears from our examination of the books. We believe that our audit provides a reasonable basis for our opinion. the Balance Sheet.

No discrepancies were noticed on verification between the physical stocks and the book stocks. (xii) Based on our examination of documents and records. Therefore. Wealth Tax. 1956. (c) No Fixed assets have been disposed off during the year. In our opinion and according to the information and explanations given to us. S. 1956 and the Companies (Acceptance of Deposit) Rules 1975 apply. In our opinion. we report that no fraud on or by the Company has been noticed or reported during the course of our audit. (xviii) The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Companies Act. (xi) There are no dues to banks or financial institutions or debenture holders. (xix) The Company has not issued any debentures during the year under audit.71 Lakhs Forum where the dispute is pending Assistant Commissioner of Service Tax Commissioner of Excise. Wealth tax. 2011 S. the provision of clause (xx) of the order is not applicable to the Company. Cess and other material statutory dues with the appropriate authorities. securities. Investor Education and Protection Fund. In our opinion the frequency of physical verification of fixed assets is reasonable having regard to the size of the Company and the nature of its assets. 1956. Therefore the provisions of clause (xix) of the order is not applicable to the company. the company is not dealing in or trading in shares. 1956. the Company has not taken any loans. The Company has not accepted any deposits from the public to which the provisions of section 58A. Income tax. sub-clause (f) and (g) are not applicable. Service Tax. debentures and other investments. The Central Government has not prescribed the maintenance of cost records under section 209(1) (d) of the Companies Act. (b) In our opinion the procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business.Annexure to the Auditor’s Report (Referred to in paragraph 3 of our Report of even date) (i) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. the Company has an internal audit system commensurate with the size and nature of its business. we report that no funds raised on short-term basis have been used for long-term investment. firms or other parties covered in the register maintained under Section 301 of the Companies Act. Excise duty and Cess which have not been deposited on account of any dispute. (xv) The Company has not given any guarantee for loans taken by others from banks or financial institutions. Custom duty. Excise duty. (a) The inventories have been physically verified during the year by the management. Accordingly. Belapur Service Tax (ii) Inadmissible Cenvat credit availed on railway wagons Sales Tax ` 109. For K. Based on our audit procedures and according to the information and explanations given to us. Accordingly.38 Lakhs Joint Commissioner of Sales Tax (Appeals). (xxi) Based upon the audit procedures performed and according to the information and explanations given and representations made by the management. 1956. the company has been generally regular in depositing undisputed statutory dues including Provident Fund. Joshi Partner Membership No. Rajesh S. the Company has not raised any loans during the period. are as follows: Nature of dues Period to which Amounts involved the amount relates (dues to the extent not deposited) Financial years 2001-02 to 2005-06 June. (a) As informed. Raigad (x) (iii) (iv) (v) (vi) (vii) (viii) (ix) The company does not have any accumulated losses at the end of the financial year and has not incurred cash losses during the financial year covered by our audit and the immediately preceding financial year. Accordingly. or any other relevant provisions of the Companies Act. sub-clause (b). (xvii)According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company. the frequency of verification is reasonable. (xiii) The Company is not a chit fund. Sales tax. Income Tax. S. Accordingly. debentures and other securities. Service tax. firms or other parties covered in the register maintained under Section 301 of the Companies Act. 100186W Place: Mumbai Date: 28th January . In our opinion. the provisions of clause 4(xiv) of the Order are not applicable to the Company. 1956. (xx) The Company has not raised any money by way of public issue during the year. (c) and (d) are not applicable. we are of the opinion that the Company has not granted any loans and advances on the basis of security by way of pledge of shares. sub-clause (b) is not applicable. 2010 for a period of more that six months from the date they became payable. secured or unsecured from companies.: 38526 75th Annual Report 2010 191 . During the course of our audit. secured or unsecured to companies. (xvi) According to the information and explanations given to us. (b) Most of the fixed assets have been physically verified by the management during the year and no material discrepancies were noticed on such verification. the Company has not granted any loans. Employees State Insurance. (a) (b) According to the records of the Company. Custom duty. (b) As informed. 2009 ` 27. Aiyar & Co. (a) According to the records of the Company.36 Lakhs 2004-05 ` 12. there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchases of inventory and fixed assets and for the sale of goods and services. Sales Tax. (c) The Company has maintained proper records of inventory. (a) According to the information and explanations given to us. (xiv) In our opinion. Aiyar Co Chartered Accountants Firm Registration No. no major weakness has been noticed in the internal control system in respect of these areas. there are no transactions that need to be entered into the register maintained in pursuance of section 301 of the Companies Act. nidhi/mutual benefit fund and therefore the requirements pertaining to such class of companies are not applicable. there are no arrears of undisputed statutory dues which remained outstanding as at December 31. 58AA.

.... Loans and Advances ....19 4...........11) (107.12 800......... Carried Balance Carried to Balance Sheet Investment ....73 33. APPLICA FU APPLICATION OF FU N DS: Fixed Assets Gross block .83 3.23 538............ Chartered Accountants Firm Registration No....34 153.....23 8........ 2010 For the year ended December 31.......... Rajesh S......50 Notes to Accounts ........81 993..................................202........ Deferred Tax .....364...............398........50 4.. Rajesh S.....895... Fringe Benefits Tax .................940....668..... Profit / (Loss) Brought Forward .......00 Provision for Taxation Current Tax .09) 4......................... 2010 ` Lac For the year ended December 31.......... Nayak } Director As per our Report of even date attached S.... 100186 W S.40 96. Sundry Debtors .. XPENDIT DITU E XPEN DITU R E: Operating and Other Expenses ... Loans and Advances: 40..06 544.31 1............. Short Provision for Expenses in Earlier Years ............ Joshi Partner Membership No........23 1........ Cash and Bank balances .....83 993..60 6....576...21 1.......69) 3............ Net Current Assets .... Less: Current Liabilities Sundry Liabilities . Reserves and Surplus .....63 331..355.82 53......... LIABI LITI TOTAL LIABI LITI ES ......... Depreciation ........50 9.... Aiyar Co For K....38 Current Assets.....21 (88..... 4 1... 2011 } Director 192 ACC Limited ........051...45 515................ Inventory-Stores and Spares (as certified by management) .....032.. 2009 Schedules SOUR FU SOUR C ES OF FU NDS: Shareholders’ Funds: Share Capital .........Subsidiary Financial Statements Balance Sheet as at December 31..693......... Earnings Per Share (See Note 4) 11 ` 0........12 (0....63 4.........51 8 697.11 4.32) Basic and Diluted Earnings per Share As per our Report of even date attached S.......06 1...56 4. Chartered Accountants Firm Registration No..... 2010 ` Lac As at As at December 31...........84 1.60 (366.56 21..... Aiyar & Co....96 896.. January 28.....116... January 28.45 393.....00 5 6 7 170... Net Block . Joshi Partner Membership No................. Less: Depreciation .00 (91...... Profit (Loss Af oss) Profit / (Loss) After Tax ... Capital Work-in-Progress (including Capital advances and Assets in transit) 3 1 2 Schedules NCO I NCO ME: Sale of Products / Services and 3....940...06 4..........100............ December 31....713........... 38526 Mumbai.045.....................58) 1..... 38526 For and on behalf of the Board Budhraja Ramit Budhraja Nay Sunil K....364..........89 829.54 8......... 100186 W S...... 9 10 1.......... Aiyar & Co.......255...... 2011 For and on behalf of the Board Budhraja Ramit Budhraja Nay Sunil K...04 6..69 47...62) 4..58 (195....62 755.....58 (502........93 2....15 4..... Aiyar Co For K.......85 551...83 11 31..........10 38.............48 24......32) 0.............032...56 4...... Nayak Mumbai............................598..895. S...... Short Provisioning in Income Tax in respect of Earlier Years ....307. ASSET SSETS Notes to Accounts .... Profit (Loss Befor oss) ore Profit / (Loss) Before Tax .............44 175.. 2010 2009 Profit and Loss Account for the year ended December 31... TOTAL ASSETS . Deferred Tax Liability (Net) ..........50 Other Income ... S...21 993.....

.......81) 31.....67 7.....73 5............ Direct Taxes paid are treated as arising from Operating Activities and are not bifurcated between Investing and Financing Activities.. Loss / (Profit) on sale of assets ..............364... 4....000 Equity Shares of ` 10 each ...........................04 (411..708........ holds 3....... Chartered Accountants Firm Registration No.....25 (8.67 33....26 (76....36.04) (11..............34 24....... As per our Report of even date attached S..03 (3..... 2010 Profit and Loss Account ......Cash Flow Statement for the year ended December 31.... Aiyar Co For K.. Adjustments for: Depreciation ..16) (522. Cash Flow from Investing Activities 7 8 9 Interest received ......23 993......................66 (58........ 3........23 10 Purchase of Fixed Assets ......18.....500..54) (17.. 2010 ` Lac For the year ended December 31............... 2009 Schedules forming part of the Balance Sheet SCHEDULE SHARE CAPIT APITAL SC H EDU LE .........68) (7........................000 Preference Shares of ` 10 each .............................00 1................. 2009 993........400............100.. January 28.....69) For the year ended December 31....................69 (1... Cash from Inv Activities Net Cash from Investing Activities .... 31.. Sale Of Investments . 2.........................34 0.2 : RESERVES AND SU R PLUS As at December 31.......400.00 4.........050 (previous year 3..... 1...... 38526 Mumbai... 12 Dividend on Mutual Fund . Joshi Partner Membership No.. (2...... 2011 For and on behalf of the Board Budhraja Ramit Budhraja Nay Sunil K...........82 (0... Dividend Earned ........ 2009 HORISED AUT HOR ISED 3..52) 47..21 3..........21 3.........44 546............42.. 2010 A.070 Equity Shares of ` 10 each fully paid ....... increase (decr decrease) Net increase / (decrease) in cash & cash equivalen alents equivalents ...18..............40 0......................03) (7.....100........46) 0. 11 Sales of Fixed Assets ..152..00...56) 71......... 100186 W S....500.........32) 254....1: SHAR E CAPITAL As at December 31.364. Rajesh S....................032..........032. Direct Taxes refund / (paid) .. Loss / (Profit) on sale of Investment Operating profit before working capital changes 2 3 4 5 6 B Trade Receivables ..52) 1..81) 394.42..............00. Provisions written back .. Trade payables ..42......48 551.....94) 33......364...21 3.. Opening Balance ....... 2010 ` Lac As at December............ S.................43 (17. Cash Flow from Operating Activities 1 Net Profit / (loss) before taxation ............... Cash from Opera Activities Net Cash from Operating Activities ...............10.77) 402.......... 3........00 1...... Other receivables ........ TOTAL .............. Inventories ....99 (198.........19) 550............... (ACC Limited the Holding Company.728..........086. Interest Received .. Figures for the previous year have been regrouped / restated wherever necessary to make them comparable..........37) 3..... Cash and Cash Equivalent is Cash and Bank Balances as per Balance Sheet. 31...........40.. Purchase of Investments ..... Notes: 1..364..32 (5..................... 3.. Closing Balance ......... Cash generated from Operations .......050) Equity shares)) TOTAL ........67 1.....98) 420......165...........................60) (8....06 1............... 1.................81 554.06 ` Lac As at December.... Aiyar & Co........19 (38......93 (195..84 515.00 3..............................00 LLY PAI UP AID ISSUED SUBSC BSCR AND ISSUED SUBSCRI BED AND FULLY PAID UP 3.......... Nayak } Director 75th Annual Report 2010 193 .... All figures in brackets are outflow.02 38................................00 4........21 SCHEDULE RESER ESERVES AND SURPLUS SC H EDU LE ......

12.80 636.576....63 3..4 : INVESTMENT As at December 31....255.228....24 551. SCHEDULE SUN DRY DEBTORS SC H EDU LE ....580......44 7...000.......80 357...16 16..058.........40 0...........84 515.45 17..23 4.... Wagon & Loco .00 279... 2010 Short Term Liquid Fund ...........15 327.56 at As at 31-12-2009 280.....38 2...58 As at December 31....... Advance Fringe Benefit Tax (Net of provision for Taxation.......27 2..... 31.65 30..68 No....... Current Accounts / Balance with Scheduled Banks .....Subsidiary Financial Statements Schedules forming part of the Balance Sheet SCHEDULE ASSET SSETS SC H EDU LE ..116.....61 201. It was sanctioned for the project by the Ministry of Industry.48 Lac)....95 5...7 : LOANS AN D ADVANCES (Unsecured Considered Good) ` Lac As at December...... Plant & Machinery ...07 37..000 30.. vide letter No...... 0....11 4.....21 53.48 170.........34 272........ Advance Tax Paid (Net of provision for Taxation.56 4...10 193..18 1.2008 effective from 12...17 Deletions/ AdjustAdjustment ment s 0..81 DEPRE CIA IAT DEPRE C IAT ION F or the y ear 13..........48 0..........45 3.....192....95 58............... Previous Year .29 36. Furniture & Fixtures ...38 Face Value ` 1....53 1..035.38 17.. Vehicles .31 33.... LIC MF Savings Plus-Growth Option .91 700.......02 14..... UTI Treasury Advantage FundInstitutional Plan (Growth Option) .....255........ Others Considered Good .....693.....56 0.. Amt ` 1.. 2009 800.51 4..............54 170.....456....05 295...89 191..........86 1..34 1.12..18 5.81 22.... Government of India.......19 at As at 31-12-2009 109....70 355.48 Lac......75 23........053....... No........ Customs and Port Trust Authorities on Current accounts Advances recoverable in cash or in kind or for value to be received .353....................230..... 2010 SUNDRY DEBTORS (UNSECURED) Over Six Months Considered Good ....37 14..116... Rails & Sidings ...56 4... 24....132.....000..463..025..38 at As at 31-12-2010 122..25 171......02 13.. Roads....63 3...96 Lac: (Previous year ` 318... LIC MF Savings Plus-Growth Option .. 2010 Cash on Hand ....1991..27..26 96.56 0....... Maximum Outstanding Balance during the year ` 380..668.......15 8..........653.........03 156.67 2........27 6.47 4........ SCHEDULE INVES NVEST SC H EDU LE ........72 2.45 38....5 : SUN DRY DEBTORS As at December 31.05 1..040. TOTAL ......56 Capital Work-in-Progress (including Capital advances & Assets in transit) 6....13 20...57 0.. 2009 Balance with Excise.....27 4...73 8..00 SCHEDULE CA AND BAN BALANC ANK ALANCES SC H EDU LE ... Amt ` 123..63 3..... 390.63 1.08 1....63 0........45 184..02 ROSS BL G ROSS B LO C K Additions/ AdjustAdjustment ment s 15.........53 5..81 17........... 2010 4.48 175.........81 14...41 3.21 2....693......63 BL N ET BL O C K at As at 31-12-2010 267.02 Lac) ` Lac As at December.........557 ` Lac As at December......713..........563... of Units urchase Purchase Price ` SCHEDULE LO AND ADVANCES SC H EDU LE ........371.....35 0..600...15 Lac : Previous year ` 123...56 Note:The terminal is on leasehold land of the Central Government in possession of the Company....73 194 ACC Limited ...09 154.... 2009 0....... 2009 3....04 34...... During the year the Company acquired and sold the following Investments in Mutual Funds articulars Par ticulars RELIANCE Money Manager Fund-Retail Plan-Growth Option .40 5.96 995.......053....40 6.576.. 31. 31.........42 13.00 800.......95 Lac) .....80 636.. Due from the Holding Company: ACC Limited ` 170..01 3..DCCI/1-26/91-92 Dt...... TOTAL ...82 On Disposals 0......521. Other Deposits ... Electrical Installation ....95 Lac : Previous year ` 1.........21 Lac) .....477.......37 12....556 4.26 24...26 153.. TOTAL .000 89............19 7...............712... Office Equipments ...045.001 50...........83 14... 31.73 8.....38 1.25 175.14 ` Lac As at December...29 1...81 11..38 0.....63 159.3 : FIXED ASSETS ` Lac ASSET SSETS FIXED ASSETS at As at 31-12-2009 Building .04 4.6 : CA SH AN D BAN K BALANC ES As at December 31...70 355.03 33.67 193.64 309...57 at As at 31-12-2010 390............ (Previous year ` 175...239.......86 24......93 Sublease granted by Central government to the company for 60 years on 12.557.09.... Bridges .50 21.........

.12 70....15 15... Insurance .......96 5..24 3.. 2010 Sundry Creditors For Capital Expenditure .... 152. Loss on Sale of Fixed Assets ............................86 755.........................................................202.................... SERVIC ES AN D OT H ER I NCOME For the year ended December 31.59 367................45 0... Freight Rebate .........03 940........ 4.....19 677....... 2009 Schedules forming part of the Profit and Loss Account Legal Services ..60 377............... 2010 ` Lac For the year ended December............ Other Expenses ...19 58.............97 14......85 88.. Deputation Charges .....51 SCHEDULE SALE PRODUCT SERVIC AND OT ODUCTS VICES INC NCO SC H EDULE ..........26 1..................91 9..43 28.... Others .... 2009 AND OT EXPENSES SCHEDULE OPERA SC H EDU LE ......................21 Payments to and Provision for Employees Staff Welfare .................... Auditors Remuneration (Ref Note 10) ...................... Operation and Other Expenses Purchase of Power ... 31..85 139.32 0..58 1........60 84..58 78............. Communication ..46 14......89 38.92 27......................06 13..10 : OPERATI NG AN D OTH ER EXPENSES For the year ended December 31.....37 529...........17 Lac)) 697............47 19....54 ` Lac For the year ended December...04 11...........................................................301........ For Other Liabilities ..34 0.. Excess provisions made in previous years written back .... Rates and Taxes ...92 19... Repairs and Maintenance ......... Profit on sale of Investment ............. Other Income Income on Mutual Fund ..............03 1............85 54................... 75th Annual Report 2010 195 .............26 6...05 8..... 31..46 383.................... 2010 Bulk Handling Charges ....17 75....46 36.......9 : SALE OF PRODUCTS.............46 70.............14 9............................60 896....Others .... 31.......76 77.........80 27.....Plant ...... Interest ..... (Due to The Holding Company: ACC Limited Nil (Previous year ` 13...... Travelling and Conveyance ..43 1...127..23 367.08 1..................51 0........................................96 360....... Repairs and Maintenance ......Buildings Repairs and Maintenance . Plant Operating Charges .......Schedules forming part of the Balance Sheet LIABI LITI SCHEDULE CUR SC H EDULE .8 : CU R R ENT LIABI LITI ES As at December 31.........27 758...........07 5..62 7..............52 9...87 829.....355.. 2009 750...............66 272... Security Charges .....37 330.......................14 37....00 11...........58 ` Lac As at December..

(iii) (iv) (v) (vi) (vii) Fellow Subsidiary Company Fellow Subsidiary Company Fellow Subsidiary Company w. bulk handling of cement.e. C) ixed Deprecia eciation: Fixed Assets and Depreciation: (i) Fixed assets are stated at cost of acquisition or construction. (AMRL). Asian Concretes & Cements Pvt. (i) elated Par Disclosures arty Related Party Disclosures Particulars of Related Parties. including attributable interest and financial cost till such assets are ready for its intended use. (x) MP AMRL (Morga) Coal Company Ltd. Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the balance sheet date.1961.2010 Joint Venture of ACC Mineral Resources Ltd. In assessing the value in use. F) Employ Employees Benefit The Company operates through the employees on deputation from the parent company. Previously recognized impairment loss is further provided or reversed depending on changes in circumstances. Ltd. (xxx) (xxxi) Holcim Environment Services Sa. 2009 Fellow Subsidiary Company w. (AMRL). a Fellow Subsidiary Company Joint Venture of ACC Mineral Resources Ltd. 28. The recoverable amount is greater of the asset’s net selling price and value in use.Deferred Income Taxes reflect the impact of current timing differences between taxable income & accounting income for the year & reversal of timing differences of earlier years . 2010 1. Investments D ) Investments Long-term investments are carried at cost. All the emoluments payable to these employees along with the related benefits are claimed by the parent company and is reimbursed . on an accrual basis. a Fellow Susidiary Company Joint Venture of ACC Mineral Resources Ltd. (ii) Depreciation is provided in the accounts on the Straight Line Method at the rates prescribed in Schedule XIV of the Companies Act. a Fellow Subsidiary Company Associate Company of Holding Company from April 01. Current investments are stated at cost or fair value whichever is lower.f. 2008 Associate Company of Holding Company from April 01. Provisions are not discounted to its present value and are determined based on best estimate of the expenditure required to settle the obligation at the Balance Sheet date. provision for diminution in value is made to recognize a decline other than temporary in the value of investments. However. Encore Cement and Additives Pvt. P T Holcim Indonesia Tbk Holcim Services (South Asia) Limited (xxiii) Holcim Foundation (xxiv) Holcim Ltd. (xxv) Siam City Concrete Co. atur ture Rela elationship N ature of Relationship Holding Company Fellow Subsidiary Company Accoun ounting Con ention: onv A) Accounting Convention: These financial statements are prepared on the historical cost convention. Dividend income is recognized when the shareholders’ right to receive dividend is established by the Balance Sheet date. it is probable that an outflow of resources embodying economic benefit will be required to settle the obligation.Deferred tax assets are recognized only to the extent that there is reasonable certainity that sufficient future taxable income will be available against which such deferred tax asset can be realized. (xi) (xii) (xiii) (xiv) (xv) (xvi) (xvii) Alcon Cement Company Pvt. The stock of stores and spares is valued at cost-Weighted Average (Moving) and net realizable value whichever is less. 2010 Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Entity of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company Promoter Group Company of Holding Company (viii) MP AMRL (Bicharpur) Coal Company Ltd. (ix) MP AMRL (Marki Barka) Coal Company Ltd. E) Inventor tory Inventory The Company does not carry any inventory of raw materials and there are no Stock of Traded Finished Goods at the end of the year. on a pro-rata basis. (AMRL). Limited (xxvi) Siam City Cement Public Company Limited (xxvii) National Cement Factory (xxviii) Holcim Bangladesh Limited (xxix) Holcim (Canada) Inc. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimate. J) During the year the company is engaged in only one business segment i. 1956. axa G) Taxa tion Tax expense comprises of Current . (AMRL). MP AMRL (Semaria) Coal Company Ltd. Ltd. Ambuja Cement India Private Limited Ambuja Cements Limited Holderind Investments Limited Holcim (India) Private Limited Holcim Group Support Limited (xviii) Holcim Singapore Limited (xix) (xx) (xxi) (xxii) Holcim Trading FZCO Holcim (Lanka) Ltd.01. Significant Accoun ounting Policies: Significant Accounting Policies: (i) (ii) 2. if any. the estimated future cash flows are discounted to the present value using the weighted average cost of capital. Hence other segmental information as per Accounting Standard 17 is not required to be disclosed. A contingent liability is disclosed.f. NOTES TO ACCOUNTS SIGNIFICANT ACCOUNTING POLICIES AND NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED DECEMBER 31. I) ontingencies Pro Contingencies / Pro visions Provisions are recognized when the Company has a present obligation as a result of past event.Subsidiary Financial Statements Schedules forming part of the Balance Sheet and Profit and Loss Account NOT AC OUNT NTS Schedule –11. in respect of which a reliable estimate can be made. Deferred tax & Fringe benefit tax. Ltd. impairment losses and specific grants received.Deferred tax assets are reviewed at each balance sheet date. B) Rec ecognition: Re venue Recognition: Revenue arising from charges for bulk handling of cement is recognized based on tonnage handled and rebate on freight granted by the Railways is recognized based on tonnage of bulk cement despatched from the supplier to the Company’s terminal at Kalamboli. if there is any indication of impairment based on internal / external factors. unless the possibility of an outflow of resources embodying the economic benefit is remote.e. which control or are under common control with the Company: Rela elated Par art Name of the Related Par t y ACC Ltd ACC Mineral Resources Limited (Formerly The Cement Marketing Company of India Limited) Lucky Minmat Limited ACC concrete Limited National Limestone Company Pvt. less accumulated depreciation.e. This is disclosed as Deputation Charges in the profit & loss account . Interest and Dividend Income Interest income is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable. Belgium Holcim Vietnam 196 ACC Limited .Current Income tax is measured at the amount expected to be paid to the tax authorities in accordance with the Income Tax Act. Impairment H) Impairment of Assets The carrying amounts of assets are reviewed at each Balance Sheet date. April 20. a Fellow Subsidiary Company Joint Venture of ACC Mineral Resources Ltd. Ltd. An impairment loss will be recognized wherever the carrying amount of an asset exceeds its estimated recoverable amount.

.. 2010 % 100 106.....11 ` Lac Particulars 1. Joshi Partner Membership No.... for period July 2009-June 2010............... Small.... 141..........17 8......59 70.06 685.. axa Taxa tion a) The Company has been recognizing in the financial statements the deferred tax assets/ liabilities.... 2010 2........... Weighted average number of Equity shares outstanding .......... 3..... 2010 to December. 1956..................... January 28........ S.. This has been relied upon by the auditors...56 205.. However.. ontingen tingent Pro For or: C ontingent Liabilities Not Provided For: As at ` Lac As at ansactions Rela elated Par arties year ear: (iii) Transactions with Related Parties during the year: Description of Transactions Holding Company ACC Limited December 31. to whom the Company owes dues on account of principle amount together with interest and accordingly no additional disclosures have been made.......................50 Lac (Previous Year ` (91... Reimbursement of expenses paid (Net of Reversal) ........20 2.. Aiyar & Co....96 74.83 3........71 - a) b) c) d) e) f) g) h) 3.R.... Purchase of Fixed Assets ...31 ` Lac As at December 31........ (There are no potential equity shares and hence there is no working for diluted earning per share)......... The Company disputed claim on such revised basis of calculation from 3 yearly rest to yearly rest.... December 31.....00 1..... Share: E arnings per Share: Particulars For the year ended December 31.......... Outstanding balance included in Current liabilities .35 27... 2009 2.76 0.Prusty Natur ture Rela elationship Nature of Relationship Head BCCI 6.. The railways have so far not raised any demand for wagon maintenance charges in respect of the 42 wagons of the 4th rake purchased last year by the Company..........070 (0...................31 9.. Claim by Railway for Maintenance Charges till 30th June 2009 for privately owned wagons by the Company .........35 544...... The railways have raised a claim for ` 9... 4 The benefit of credit against the payment made towards Minimum Alternate Tax for the earlier years is available in accordance with the provision of Section 115JAA over a period of subsequent ten assessment years and the same will be accounted for when actually availed...... Profit/(Loss) after taxation as per Profit and loss account .. Remuner emunera 10..94 7....... 38526 Mumbai. December 31. 2011 For and on behalf of the Board Budhraja Ramit Budhraja Nay Sunil K.. the Company has made a total provision of ` 49. December 31. Aiyar Co For K....f. 2010)..K.. Nayak } Director 75th Annual Report 2010 197 ........... as defined in the Micro... in respect of wagon maintenance charges for the above referred 125 wagons.......42......... 2009 1........ Sales Tax Demand of Financial Year 2004-05 not accepted by the Company ....12 ` Lac For the year ended December 31.. (b) Fees for Tax Audit ... Rendering of Services ..... During the year.... 2009 % 100 69..... 2009 (107... 11... This was calculated by railways based on the applicable inflation rate as per RBI norms at yearly rests which hitherto was calculated at 3 yearly rests... 5.. ` Lac Sr... 0..... Rajesh S.........50 0.................32) Lac)........070 0.......... Signatures to Schedules 1 to 11 As Per our report of even date S. Reimbursement of expenses received .. 2010 2009 43... Deferred Tax Assets: Unabsorbed Losses / Others .12 377...38 43............... Service Tax and Penalty .. Additional claims were made by Central railways in respect of wagon maintenance charges of 125 Wagons amounting to ` 773...........96 958.. The same has been calculated by railways after making inflation adjustment to the Capital cost of ` 1...36 12...26 175........ ADDITIONAL INFORMATION PURSUANT TO THE PROVISIONS OF PARAGRAPH 3 & 4 OF PART II OF SCHEDULE VI TO THE COMPANIES ACT..... 2................Schedules forming part of the Balance Sheet and Profit and Loss Account Management Personnel: (ii) Key Management Personnel: Rela elated Par arty Name of the Related Par ty Mr K.....36...... 2009 750...............74 6..e.....42.... Small and Medium Enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company.....81 For the year ended December 31.71 109. Net Deferred Tax Liabilities ....... Spares Parts Consumed: Indigenous ... The above information regarding Micro... (c) Fees for Other Services . an amount of ` 46....36.....53 Lac.` 10 per share) ... Reimbursement of Freight Rebate ... Therefore. the company has already made a provision as per its own computations of ` 730..408........................ 2006.. Medium Enterprises Development Act.....67 Lac has been provided as per the estimates made by the Company..80 5.. (d) Reimbursement of Expenses ...... As against these claims................58 176.. Outstanding balance included in Current assets ..20 1....77 1... the company has debited to the Profit & Loss Account......59) 3............... on an estimated basis for all 125 wagons for the period from July...............76 Lac..35 27... Provision of Deferred Tax Liability of ` 6.990.48 13...47 For the year ended December 31. Particulars For the year ended December 31.. Total .................52 6................. in accordance with Accounting Standard 22 “Accounting for Taxes on Income” issued by the Central Government under the Companies (Accounting Standard Rules 2006).....00 Sr. Oct 97-June 2009. Previous year’s figures have been regrouped / rearranged wherever necessary to make them comparable with the current year’s figures.46 Lac for the period w.. Deputation Charges .... Small and Medium Enterprises......... Auditors Remuneration : ` Lac For the year ended December 31... 2010 940. The matter is being followed up with the railways.... 2010 Deferred Tax Liabilities: Depreciation Differences ....... 2010 38................ The year-end position is as follows: As at December 31...........32) (a) Audit Fees . Basic earnings per Share (Weighted Average) in ` (face value .....58 Lac which was due.33 360....11 Lac and has also paid that amount to the railways...25 538.No...... There are no Micro.............26 3... 100186 W S.... the Company has no dispute against the same and accordingly made provision of the same amount and has already paid the said amount to the railways Therefore..25 1. No Particulars 4..... Chartered Accountants Firm Registration No........91 743.............. Inadmissible Cenvat Credit availed on Railway Wagons ..

00 each 0 . Expenditure N I L Total Assets 5 6 3 8 4 3 Reserves & Surplus 1 0 3 2 0 6 N I L State Code 1 1 Raised year Capital Raised during the year (Amount in ` Thousands) Public Issue N I L Bonus Issue T R A N S P O R T A T I O N D I S T R I B U T I O N O F B U L K C E M E N T 198 ACC Limited . Position of Mobilisation and Development of Funds (Amount in ` Thousands) Total Liabilities 5 6 3 8 4 3 Sources Funds Sources of Funds Paid up Capital 3 3 6 4 2 1 Deferred Tax Liability (Net) 5 4 4 5 6 Application Funds Application of Funds Net Fixed Assets 4 0 5 1 5 4 Net Current Assets ( 3 6 6 0 9 ) Accumulated Losses N I L IV. Balance Sheet I I. erf Compan ompany IV. 1 2 V. (ITC Code) Product Description 2 5 2 3 0 0 T R A D I N G I N C E M E N T & Total Expenditure 1 3 0 7 6 9 Profit Profit After Tax 3 8 8 3 Dividend Rate % N I L Investments 1 2 5 5 3 8 Misc. Abstrac act Company’s General ompany’ Profile Balance Sheet Abstract and Company’s General Business Profile I. Performance of the Company (Amount in ` Thousands) Turnover 1 3 5 5 6 2 Profit Loss efor ore Profit / Loss Before Tax 4 7 9 3 Earning per share (in `) For Share of ` 10. 1956. U99999MH1992PT U99999MH1992PTC066679 3 1 1 2 2 0 1 0 Rights Issue N I L Private Placement N I L Mobilisation elopment Funds I I I. three Products/Services oducts/Ser Compan ompany Generic name of three Principal Products/Services of Company (as per monetary terms) Item Code No. egistra Registration Details Registration No.Subsidiary Financial Statements Additional Information pursuant to part IV of Schedule VI to the Companies Act.

2010. 1988. 2010 For the year ended December 31. is NIL.42. DIVIDEND Your Directors do not recommend any dividend for the financial year ended December 31. 2010 as compared to a loss of ` 15. 1975. I N DUSTR IAL RELATIONS During the year under review. 2009 DEND DIVIDEN 3.415 as compared to a loss of ` 15.17.010 for the year ended December 31.446 (4. 2009. S.792) (6. Singh holds office till the date of the forthcoming Annual General Meeting.750) 22.00. 2010 is ` 4.415) (6. Samar Bahadur Singh as an Additional Director of the Company with effect from October 18. industrial relations at the Company’s unit continued to remain cordial and peaceful.750 for the year ended December 31. 2009.802) (6.LML Directors’ Report TO THE MEMBERS OF LUCKY MINMAT LIMITED The Directors hereby present the Thirty Fifth Annual Report on the business and operations of the Company and the Audited Accounts for the year ended December 31. ARTICULAR LARS EMPLO 6. his candidature for appointment as a Director is included at Item 5 of the Notice. As an Additional Director. Dr. Mr M. 2009. DUST RELA ELAT 4.508.415) ` 2.17. PARTICULARS OF EMPLOYEES The Company has not employed any individual whose remuneration falls within the purview of the limits prescribed under the provisions of Sec 217(2A) of the Companies Act. K. FINANCIAL RESULTS PARTICULARS For the year ended December 31. 2010.802) Loss after Taxation Balance brought forward from previous year Balance carried forward to Balance Sheet OPERA 2. ERG ENER ONSERV CONSER LARS ARTICULAR 5. The total despatches for the year ended December 31.10. DIR ECTORS The Board of Directors has appointed Dr. read with the Companies (Particulars of Employees) Rules. ESUL NANCIAL RESU FINANC 1. resigned from the Board of Directors of the 75th Annual Report 2010 199 ` Sale of Products. 2007. 2010. Services and Other Income Loss Before Tax Provision for Taxation Fringe Benefits Tax (4.716 MT for the year ended December 31. Mishra who was appointed as a Director of the Company with effect from November 17. Accordingly.46. Hence the information as required under Section 217(1)(e) of the Companies Act 1956. OPERAT IONS The Company resumed full operations during the year 2010.433 MT as compared to 1.090.17.090.100 (1.010) (4. The Company has incurred a loss before tax of ` 4.565. The loss after tax for the year ended December 31.13. PART ICU LAR S OF CONSERVAT ION OF EN ERGY. B.217) 90. 2010 were 41. The Company has not entered into any technology transfer agreement.17. . ORS DIR ECTOR 7. read with the Companies (Disclosure of Particulars in the Report of the Board of Directors) Rules. CH NOLO AND FOREIGN ABSORP T E C H NOL O G Y ABSOR P T ION AN D FOR EIGN AND OUT ARN EAR EXC HANGE EARN I NGS AND OUTGO There was no technology absorption and no foreign exchange earnings or outgo during the year under review. 1956.525.542.260 (1.65.415 for the year ended December 31.

1956. Shah & Associates. K S Aiyar & Co. for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. 1956. have been prepared on a going concern basis. K. ACKNOWLEDGEMENT 12. the existing Auditors have under Section 224(1B) of the Companies Act. ARIAL AU SECRETAR 10. AU DIT COMMITTEE The paid up Share Capital of the Company is less than Rupees Five Crore and hence the Company is 200 ACC Limited For and on behalf of the Board of Directors B. iii) that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act. Pramod S.Subsidiary Financial Statements Company with effect from October 14. 2010. the Company has obtained a certificate from Messrs. your Directors make the following statement in terms of Section 217 (2AA) of the Companies Act. Nariman retire by rotation and are eligible for reappointment. 1956. D. and of the profit of the Company for the year ended on that date. Chartered Accountants. 2010. M. AU DITOR ORS 11.. Bani Park. Nariman Chairman January 27. Mishra as a Director of the Company. 1956. iv) that the accounts for the year ended December 31. The Board has placed on record its appreciation of the valuable services rendered by Mr. SECR ETARIAL AU DIT Pursuant to the provisions of Section 383A of the Companies Act. 1956: i) that in the preparation of the Accounts for the year ended December 31. 1956. DIR ECTORS’ RESPONSIBI LITY STATEMENT To the best of their knowledge and belief and according to the information and explanations obtained by them. As required by the said Section the certificate is attached to this report. 2010. Mr. ST DIRECTOR RESPONSIB ORS’ ESPONSI 8. The Members are requested to re-appoint them as Auditors of the Company for the year 2011. the applicable accounting standards have been followed along with proper explanation relating to material departures. 2011 Registered Office: G-9/C Kabir Marg. ii) that such accounting policies as mentioned in Note 1 of the Notes to the Accounts have been selected and applied consistently and judgments and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of the affairs of the Company as at December 31. Your Directors also acknowledge the unstinting assistance and support received from ACC Limited. the holding Company and all the employees for their valuable contribution during the year. furnished a certificate of their eligibility for re-appointment. not required to constitute an Audit Committee under the provisions of Section 292A of the Companies Act. Practising Company Secretaries. ACKNOWLEDGEMENT Your Directors take this opportunity to express their appreciation of the excellent co-operation received from the Government and Company’s Bankers. In accordance with the provisions of the Companies Act. that the Company has complied with the provisions of the Companies Act. if any. 2010. AU DITORS M/s. 1956. Krishan Mohan Gupta and Mr. Jaipur 302 016 . COMMITTEE 9. Burjor D.

3..400 007 (India) Tel. 8. The Company has kept and maintained all registers as stated in Annexure ‘A’ to this certificate.E. Lucky Minmat Lucky Minmat Limited Capital Nominal Capital : 3. 75th Annual Report 2010 201 . The Company being a Public Limited Company. The Company has not closed its Register of Members or Debenture holders during the financial year. The Members. Central Government. The Company has made necessary entries in the register maintained under Section 301 of the Act.000/egistra No. 9..03. Hughes Road (Opp : Dharam Palace). 2. comments are not required The Board of Directors duly met 4 times on 27. As there were no instances falling within the purview of Section 314 of the Act. 54. Office No.2010. The Company has duly filed the forms and returns as stated in Annexure ’B’ to this certificate.25.12. 1956 & Rule 3 of the Companies (Compliance Certificate) Rules. ASSO IAT SSOC PRAMOD S.Com.10.00.: (O) +91 (022) 2368 2139 / 2367 1870 Fax : +91 (022) 2367 8571 E-mail : saurabhshah361@gmail. Pramod S.C.LML Pramod S. Mumbai . B. Articles of Association of the Company for the financial year ended on 31st December. 2001 To. Shah B. 15.S. 10. Members or Central Government. records. Lucky Minmat Limited (the Company) as required to be maintained M/s.com pramodsshah@rediffmail. 1st Floor. with the Registrar of Companies.04. 5.2010 after giving due notice to the Members of the Company and the resolutions passed thereat were duly recorded in Minutes Book maintained for the purpose. No Extraordinary General Meeting was held during the financial year. 4.L. 6. its officers and agents. Members. Registration No. I/we certify that in respect of the aforesaid financial year: 1. Company Law Board or authorities within the time prescribed under the Act and the rules made thereunder. Mobile : 98211 06217 Mobile : 98211 06410 Mani Bhuwan.2009 was held on 22. In my/our opinion and to the best of my/our information and according to the examinations carried out by me/us and explanations furnished to me/us by the Company.. S.001697 (31/12/2010) I / We have examined the registers. Lucky Minmat under the Companies Act 1956.2010 and 18. 15.B.O. L. 5. F. SHAH & ASSOCIATES Prac actising Compan Secretaries ompany Practising Company Secretaries Certificate ertifica Compliance Cer tificate U/S 383A of the Companies Act.07. the Company has not obtained any approvals from the Board of Directors. 2010. 11. The Company has not entered into contracts falling within the purview of Section 297 of the Act in respect of contracts specified in that Section.2010 in respect of which meetings proper notices were given and the proceedings were properly recorded and signed including the circular resolution passed in the minutes books maintained for the purpose. as per the provisions and the rules Annexure ‘A made thereunder and all entries therein have been duly recorded. books and papers of M/s. 7. The Company has not advanced any loans to its Directors or persons or firms or Companies referred under Section 295 of the Act.01.2010. : 11 ..com PRA S. Annexure Regional Director. The Annual General Meeting for the year ended on 31. (the Act) and the rules made thereunder and also the provisions contained in the Memorandum and December.A.

was not required to transfer any amount to Investor Education & Protection Fund. The Company has not appointed any Managing Director / Whole time Director / Manager during the financial year. debentures or other securities during the financial year . 2010. 23. 16. Registrar and / or such other authorities prescribed under the various provisions of the Act during the financial year. The Company has not altered the provisions of the Memorandum with respect to Share Capital of the Company during the financial year. The Company has not made loans and investments or given guarantees or provided securities to other bodies corporate in compliance with the provisions of the Act and has made necessary entries in the register kept for the purpose. iv. The Company has not bought back any shares during the financial year. 15. The Company has not altered the provisions of the Memorandum with respect to name of the Company during the financial year. which required the Company to keep in abeyance rights to dividend. The Company has not altered its Articles of Association during the financial year. The Company has not invited / accepted any deposits including any unsecured loans falling within purview of Section 58A during the financial year. rights shares and bonus shares pending registration of transfer of shares. The Directors have disclosed their interest in other firms/Companies to the Board of Directors pursuant to the provisions of the Act and the rules made thereunder. The Company has not altered the provisions of the Memorandum with respect to the situation of the Company’s Registered Office from one state to another during the financial year. 32. has not allotted / transmitted securities during the financial year and has delivered the Certificates for transfer in accordance with the provisions of the Act. 20. 19. v. There were no transactions. The Company has not received any money as security from its employees during the financial year. 17. 31. The Company has not appointed any sole-selling agents during the financial year. 21. 29. has not deposited any amount in a separate Bank Account as no dividend was declared during the financial year. The Company has not altered the provisions of the Memorandum with respect to the Objects of the Company during the financial year. Company Law Board. for offences under the Act. 30. 18. The Company: i. There was no appointment of Alternate Directors and Directors to fill casual vacancies. There were no prosecutions initiated against or show cause notices received by the Company and no fines or penalties or any other punishment imposed on the Company during the financial year. 22. has duly-complied with the requirements of Section 217 of the Act regarding Boards’ Report. 25. The Company has not issued any duplicate share certificates during the financial year. iii. 26.Subsidiary Financial Statements 12. One Additional Director was appointed during the financial year. 27. 24. Regional Director. The Company has not issued any shares. There was no redemption of preference shares or debentures during the financial year. The Company was not required to obtain any approvals of the Central Government. The Board of Directors of the Company is duly constituted. has not posted warrants to any members of the Company as no dividend was declared during the financial year. 202 ACC Limited . 28. 13. 14. ii. The Company has not made any borrowings during the financial year ended 31st December.

LML

33. The Company has deposited both employee’s and employer’s contribution to Provident Fund with the prescribed authorities pursuant to Section 418 of the Act.

Place : Mumbai Date : 25.01.2011

Signature : Sd/Name of Company Secretary : Pramod S. Shah C.P. No. : 3804

Annexure Annex ure A The Company has been maintaining the following statutory records: 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 11) Minutes Book (Board Meeting) Minutes Book (AGM & EGM) Register of Members Register of Directors Register of Director’s Shareholding Register of Assets Register of Investments Register of Charges Register of Contracts Register of Common Seal Register of Application and Allotment

Annexure Annex ure B Forms and Returns as filed by the Company with the Registrar of Companies, Regional Director, Central Government or other authorities December, during the financial year ending on 31st December, 2010. Sr. Sr. No. No. No. Form No. u/s Filed u/s For Filed on Whether filed within prescribed prescribed time Yes/No 1 Form 20B & Annual Return 2 Form 23AC & 23 ACA (Balance Sheet and Profit and Loss Account) 3 4 5 6 7 Form 66 Form 32 Form 32 Form 32 Form 32 383 A 303(2) 303(2) 303(2) 303(2) 31/12/2009 Appointment of Mr. S. B. Singh Cessation of Mr. M. K. Mishra Appointment of Mr. Burjor D. Nariman Change in designation of Mr. Burjor D. Nariman 08/04/2010 Yes No 12/04/2010 24/11/2010 24/11/2010 23/02/2010 Yes No No Yes No Yes Yes No 220 31/12/2009 12/04/2010 Yes No 159 22/03/2010 04/05/2010 Yes delay If delay in filing requisite whether requisite fee additional fee paid Yes/No No

75th Annual Report 2010

203

Subsidiary Financial Statements

Auditor’s Report
1.

to the members of the Lucky Minmat Limited
c) the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account; d) in our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956; e) on the basis of the written representations received from the directors, as on December 31, 2010, and taken on record by the Board of Directors, we report that none of the directors of the Company are disqualified as on December 31, 2010 from being appointed as a director, in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956; f) in our opinion and to the best of our information and according to the explanations given to us, the said accounts give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

We have audited the attached Balance Sheet of LUCKY MINMAT LIMITED, as at December 31, 2010, and also the Profit and Loss Account and the Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audit.

2.

We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3.

As required by the Companies (Auditor’s Report) Order, 2003 (as amended) (‘the Order’) issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act, 1956, we enclose in the annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order.

i) in the case of the Balance Sheet, of the state of affairs of the Company as at December 31, 2010; ii) in the case of the Profit and Loss Account, of the loss of the Company for the year ended on that date; and iii) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

4.

Further to our comments in the Annexure referred to in paragraph 3 above, we report that: a) we have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit; b) in our opinion, proper books of account as required by law have been kept by the Company, so far as appears from our examination of the books;

For K. S. Aiyar & Co. S. Aiyar Co Chartered Accountants Firm Registration No. 100186W Place: Mumbai Date: Date: January 27, 2011 Sachin A. Negandhi Partner Membership No.: 112888

204

ACC Limited

LML
Annexure to the Auditor’s Report
(Referred to in paragraph 3 of our Report of even date on the Accounts for the year ended December 31, 2010 of LUCKY MINMAT LIMITED) (i) (a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. (b) The fixed assets are physically verified by the management during the year and in our opinion the frequency of verification is reasonable having regard to the size of the Company and the nature of its assets. No material discrepancies were noticed on such physical verification. (c) No fixed assets are disposed off during the year. (ii) (a) The inventories have been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable. (b) The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. (c) In our opinion and according to the information and explanations given to us, the Company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book records were not material and have been properly dealt with in the books of account. (iii) (a) As informed, the Company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Accordingly, sub-clause (b), (c) and (d) are not applicable. (b) As informed, the Company has not taken any loans, secured or unsecured from companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Accordingly, sub-clause (f) and (g) are not applicable. (iv) In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchases of inventory and fixed assets and for the sale of goods and services. During the course of our audit, no major weakness has been noticed in the internal control system in respect of these areas. (v) (a) Based upon the audit procedures performed and according to the information and explanations given to us, there are no contracts or arrangements that need to be entered into the register maintained in pursuance of Section 301 of the Companies Act, 1956. Accordingly, sub-clause (b) is not applicable. (x) dues applicable to it have been regularly deposited during the year with the appropriate authorities. According to the information and explanations given to us, there are no undisputed dues in respect of provident fund, investor education and protection fund, employees’ state insurance, income-tax, wealth-tax, service tax, sales-tax, customs duty, excise duty, cess and other statutory dues which were outstanding, at the year end for a period of more than six months from the date they became payable. (b) According to the records of the Company, there are no dues of Income tax, Sales tax, Wealth tax, Service tax, Custom duty, Excise duty and Cess which have not been deposited on account of any dispute. The Company has accumulated losses at the end of the financial year and has incurred cash losses during the financial year covered by our audit and in the immediately preceding financial year.

(xi) According to the information and explanations given to us, the Company has not taken any money from financial institution, bank or debenture holders and hence clause 4(xi) is not applicable. (xii) Based on our examination of the records and the information and explanations given to us, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. (xiii) In our opinion, the Company is not a chit fund or a nidhi / mutual benefit fund / society. Therefore, the provisions of clause 4 (xiii) of the Order are not applicable to the Company. (xiv) In our opinion, the Company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Order are not applicable to the Company. (xv) According to the information and explanations given to us, the Company has not given guarantee for loans taken by others from bank or financial institutions. (xvi) The Company has not raised any term loans during the year. (xvii)According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company, we report that no funds raised on short-term basis have been used for long-term investment. (xviii) The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Companies Act, 1956. (xix) According to the information and explanations given to us, no debentures were issued during the year. (xx) The Company has not raised any money by way of public issue during the year. Therefore, the provision of clause (xx) of the order is not applicable to the Company. (xxi) According to the information and explanations furnished by the management, which have been relied upon by us, there were no frauds on or by the Company noticed or reported during the course of our audit. S. Aiyar Co For K. S. Aiyar & Co. Chartered Accountants Firm Registration No. 100186W Place: Mumbai Date: Date: January 27, 2011 Sachin A. Negandhi Partner Membership No.: 112888

(vi) The Company has not accepted any deposits from the public to which the provisions of section 58A, 58AA, or any other relevant provisions of the Companies Act, 1956 and the Companies (Acceptance of Deposit) Rules 1975 apply. (vii) In our opinion the company has an Internal audit system commensurate with the size and nature of its business. (viii) The Central Government has not prescribed the maintenance of cost records under section 209 (1) (d) of the Companies Act, 1956. (ix) (a) According to the records of the Company, Provident Fund, Investor Education and Protection Fund, Employees’ State Insurance, Income tax, Sales tax, Wealth tax, Service tax, Custom duty, Excise duty, cess and other material statutory

75th Annual Report 2010

205

Subsidiary Financial Statements

Balance Sheet as at December 31, 2010
` As at December 31, 2010 As at December 31, 2009

Profit and Loss Account for the year
ended December 31, 2010
` For the year ended December 31 2010 7,193,973 12 1,852,473 9,046,446 XPENDIT DITU E XPENDITU R E Manufacturing and Other Expenses 13 Depreciation and Amortisation . Interest ................................................. 14 9,459,565 4,296 9,463,861 (417,415) (417,415) (417,415) (6,090,802) (6,508,217) ` 15 (1.28) 21,866,633 2,819 117,964 21,987,416 (1,974,316) 431,566 (1,542,750) 22,260 (1,565,010) (4,525,792) (6,090,802) (4.82) For the year ended December 31, 2009 18,488,149 1,524,951 20,013,100

Schedules SOUR FU SOUR C ES OF FU N DS : Shareholders’ Funds : Share Capital ..................................... Reserves and Surplus ..................... FU TOTAL FU N DS APPLICA FU APPLICAT ION OF FU N DS : Fixed Assets : Gross Block ......................................... Less: Accumulated Depreciation Net Block ............................................. Investments ....................................... Current Assets, Loans And Advances : Inventory ............................................. Sundry Debtors ................................. Cash and Bank Balances ............... Other Current Assets ..................... Loans and Advances ....................... 5 6 7 8 9 4 3 1 2

Schedules NCO I NCO ME Sale of Products and Services ....

32,500,000 834,918 33,334,918 33,334,918

32,500,000 834,918 33,334,918 33,334,918

Other Income ....................................

445,456 395,191 50,265 20,850

445,456 390,895 54,561 20,850

Profit (Loss efor axa oss) ore Profit / (Loss) b efore Taxation ... Previous Year adjustment ............ Profit (Loss befor axa oss) ore Profit / (Loss) before Taxation ... Provision For Taxation Fringe Benefit Tax ........................... Profit (Loss after axa oss) Profit / (Loss) after Taxation ...

613,209 27,144,514 1,005,282 3,097,669 31,860,674

59,416 32,687,253 764,803 2,668,211 36,179,683 8,146,478 864,500 9,010,978 26,755,586 6,508,217 33,334,918 27,168,705 6,090,802 33,334,918

Balance brought forward from Previous Year Balance carried to Balance Sheet Basic & Diluted Earnings per Share Notes to Accounts ...........................

Less : Current Liabilities And Provisions : Current Liabilities ............................ Provisions ............................................ Net Current Assets ......................... Profit & Loss Account .................... ASSET (NET SSETS ET) TOTAL ASSETS (NET ) ..................... Notes to Accounts ........................... 15 10 11 4,240,588 864,500 5,105,088

The schedules referred to above and Notes to accounts form an integral part of the Profit and Loss Account As per our report of even date K.S. Aiyar Co For K.S. Aiyar & Co. Chartered Accountants Firm Registration No. 100186W For and on behalf of the Board of Lucky Minmat Limited, .D. B.D. Nariman Dr. S.B .B. Dr. S.B. Singh S.K. Das S. Das Gupta K.M.Gupta K.M.Gupta Sachin A. Negandhi Partner Membership No. 112888 Mumbai, January 27, 2011 Chairman

}

Director

The schedules referred to above and notes to accounts form an integral part of the Balance Sheet As per our report of even date K.S. Aiyar Co For K.S. Aiyar & Co. Chartered Accountants Firm Registration No. 100186W For and on behalf of the Board of Lucky Minmat Limited, .D. B.D. Nariman Dr. S.B .B. Dr. S.B. Singh S.K. Das S. Das Gupta K.M.Gupta K.M.Gupta Sachin A. Negandhi Partner Membership No. 112888 Mumbai, January 27, 2011 Chairman

}

Director

206

ACC Limited

.........D....Gupta K....057 (59. Das S.......890) (6......................... 5....212) 2.....870) 164..918 32................ Aiyar & Co.....M.500.. 6........253 For and on behalf of the Board of Lucky Minmat Limited.........K.....144.......................500......000 32............415) (1..........000 ` As at December 31.. 8............... ..852.209) 59..542...272 (1............ Trade Receivables . Das Gupta K....965. 2009 32. S.739) (404........... Nariman Dr..... 100186W As at December 31.......... Direct Taxes refund/(paid) ..245 (417....325........... Net increase/(decrease) in cash & cash equivalents ................................................... Interest Received ...479) (3...592) (613. 112888 Mumbai..Gupta Chairman Sachin A..... 4.................. B....968 2..............395.............819 (295.2. 2010 ` For the year ended 31...651 3.B....852...........687.................918 834............775........000 (Previous Year ..............687..................... Interest Received ..LML Cash Flow Statement for the year ended Schedules forming part of the Balance Sheet december 31.............473) (2.......... 32......490) (57.878 32... RESERVES AND SURPLUS As at December 31.265....................... Adjustments for: Depreciation .. Aiyar Co For K. increase/(decrease) ease/(decr equivalen alents Cash & cash equivalents : Opening Balance ..................000) Equity Shares of ` 100 each .....754) (429...057) (1.............. 4.B ..... SCHEDULE RESER ESERVES AND SURPLUS SCHEDULE .027) 626...542.458) (7.. CASH FLOW FROM OPERATING ACTIVITIES 1..1..........918 32......... 834..........500... Net Profit/(Loss) before taxation .500... Chartered Accountants Firm Registration No.....988) 295....D........ CASH FLOW FROM INVESTING ACTIVITIES 7.325......500................. Dr.296 (1..... Singh S.........................000) Equity Shares of ` 100 each .380) (461... 2010 HORISED AUTHOR ISED 325.630. Cash generated from operations ...............401.........000 32... Closing Balance ..500..834............000 32. Trade Payables ...........500.. SHAR E CAPITAL As at December 31.......325................000 32....375 ` CA FRO INVES NVEST ACTIVITI CTIVIT N ET CASH FROM I NVEST I NG ACTIVITI ES ..S...905.................................000) Equity Shares of ` 100 each ...........416) 369. Operating profit before working capital changes 2.... 3.......... December 2009 SCHEDULE SHARE CAPIT APITAL SC H EDULE .473 1........ December 2010 A................. As per our report of even date K...416 (240..... 2009 834....000 32..000 CA FRO OPERA ACTIVITI CTIVIT N ET CASH FRO M OPERATI NG ACTIVITI ES .....S................. Provision for doubtful debts ....522.. 2011 } Director 75th Annual Report 2010 207 .000 32.......... S.000 (Previous Year ...............000 32...........473 (5...................... Inventories .......... TOTAL ....M.........000 (Previous Year ........253 27... (All the Shares held by ACC Limited the Holding Company and its nominees) TOTAL .........514 32. Negandhi Partner Membership No..... Other Receivables ...... SUBSC BSCR SU BSCR I B ED 325......500............. January 27..500. 2010 General Reserve .918 834... ISSUED ISSU ED 325.......852............................. B.......000 1.....500. Purchase of Fixed Assets .B.........750) For the year ended 31..

.191 390........... PROVISIONS ` As at December 31..........4..023 50............850 ` ASSET SSETS SCHEDULE OT CUR SC H EDU LE ... 2010 Provision For Income Tax ............211 2...............456 445. 27........ TOTAL . 2009 539....... Plant & Machinery ........ (Maximum Balance outstanding during the year ` 16........416 59..895 388...........588 As at December 31..............362 1.076 1............ Advance Payments Against Taxes ..803 As at December 31..................................703 24...... CASH AN D BAN K BALANC ES As at December 31..076 3....265 54......254 225..... Security Deposit with Holding Company .. 2010 Balance With Scheduled Banks In Current Account ....... 850.................211 ` SCHEDULE SUN DRY DEBTORS SC H EDU LE .......... 2010 Stock of Explosive . CUR R ENT LIABI LITI ES ` As at December 31... 2009 59...677 395.... Considered Good.......................... 2010 Other Investments Government and Trustee Securities National Saving Certificates ............6...............................500 864.......669 616.. TOTAL .. 20..... 2009 20... FIXED ASSETS ASSET SSETS FIXED ASSETS Description at As at 01-01-2010 GROSS BL AT COS OST GROSS BLO C K AT COST Additions/ Adjustments Adjustments at As at 31-12-2010 at As at 01-01-2010 DEPRECIAT ECIA TOTAL DEPREC IATION For the Period Upto 31-12-2010 ETB N ETB LO C K at As at 31-12-2010 at As at 31-12-2009 ` Tangible Assets : Buildings ......5...................................146.......416 As at December 31......... 2009 100....220 4.........908..000 2...................209 - Other Current Liabilities ..........494 3.......... SCHEDULE PRO SC H EDU LE ...005...........456 388....680 13....................................760............... Sundry Creditors .....076 43.. Computer Printer ...561 42..9.....097.8...253 208 ACC Limited .700 445.....076 2.000 2............277 389.......568.............514 16. I NVENTORY As at December 31.........438 3....850 20. Provision For Fringe Benefit Tax ..... TOTAL ..380 388.. 100....790) TOTAL ...242 10... (Maximum Balance outstanding during the year ` 36494...... TOTAL ..567 385....... 2009 7......745 810.478 ` 613......... 2009 850......680 13........790.......819 388.... SCHEDULE INVENTORY NVENTOR SC H EDU LE .........790 32...456 388........................076 2....................000 14............725.......911 8..500 As at December 31. Prepaid Expense ............. 2010 CUR LIABI LITI CU R R ENT LIAB I LITI ES : Payable to Holding Company .......... Previous Year Figures ..............669 3.. Previous year ` 36.076 57...243 54......... TOTAL .... TOTAL ..........005 1.005..........Subsidiary Financial Statements Schedules forming part of the Balance Sheet SCHEDULE ASSET SSETS SC H EDU LE .......... LOANS AN D ADVANC ES (Unsecured................968 4..... SCHEDULE CA AND BAN BALANC ANK ALANCES SC H EDU LE ........................... 2010 SUNDRY DEBTORS (UNSECURED.....549 764.850 20. TOTAL ....... 3...296 2..594 16... Previous year ` 16......687.....3................. unless otherwise stated) As at December 31....790 36.... TOTAL ........895 40.. 2010 Accrued Interest .........144....11....... 2010 Sundry Advances And Deposits..............7.....................076 43.... In Fixed Deposits .. etc.................................. OT H ER CUR R ENT ASSETS As at December 31........561 INVES MENTS NVEST Schedule ...................703 30........ SCHEDULE LO AND ADVANCES SC H EDU LE .........875 111...209 613...................594) In Fixed Deposits ......000 14...850 ` ` As at December 31....10...........085...668.457 390. I NVESTMENTS As at December 31.500 864... .. Considerd Good) Other Debts .. Balance With Non Scheduled BanksKendri Sahkari Sikar Bank In Current Account ..................... SUN DRY DEBTORS As at December 31........997.................282 ` As at December 31....317.......166 As at December 31........ 388.... 2009 1................527 SCHEDULE CUR LIABI LITI SC H EDU LE ..........318 12... 2009 As at December 31......................700 445.....500 36.........240..

..606 13.. For the year ended For the year ended December 31..500 16. Workmen and Staff Welfare Expenses ADMI IST MIN SELLING AND ADMI N IST RAT IVE................. Misc... 2010 EXPENSES ANU CTU M ANU FA CTU R I NG EXPENSES Stores and Spares parts Consumed Power and Fuel (Diesel & Electricity) Repairs to Other Items ........473 1................000 60. Impairment (F) Impairment The carrying amounts of assets are reviewed at each Balance sheet date if there is any indication of impairment based on internal / external factors..555..524....119.263 The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period end.. I NTER EST PAI D ` estimated recoverable amount................495 119...911 ` (ii) Financial statements are based on historical cost and are prepared on accrual basis........479 295.852..........936 39........ Stationary Expense .565 4....951 ` NTS NOT AC OUNT Schedule –15. I.. 388........436 will flow to the Company and the revenue can be reliably measured..425..... Professional fees .....000 1.......900 3.... Expenses ........... which is generally on dispatch of products and is stated net of returns.....356..............403 100.......509 6...........633 Fixed assets are stated at cost of acquisition or construction including attributable interest and financial costs till such assets are ready for its intended use. NOTES TO ACCOUNTS 1..... Transportation... In assessing the value in use. For the year ended December31...964 117. An impairment loss will be recognized wherever the carrying amount of an asset exceeds its II...... 1956..... Previously recognized impairment loss is further provided or reversed depending on changes in circumstances..... MANU FACTU R I NG AN D OTH ER EXPENSES For the year ended December 31..........032 1..040 4...271.168 50...............649 20.. SIGNIFICANT ACCOUNTING POLICIES AND NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED DECEMBER 31. Inventories (G) Inventories Inventories of Raw material & finished goods are valued at lower of cost or Net realization value......961 21.. December31................. The recoverable amount is greater of the assets net selling price and value in use. Travelling Expenses ...258 15........801 146.. TOTAL .................. Although these estimates are based upon management’s best knowledge of current events and actions.301 1......................... except where impairment is made and revaluation is carried out.626 6..... Loading... Corporate social Responsibility .............866.......... Advertisement ...... 2006 prescribed by the Central Govt and the relevant provisions of the Companies Act.951 1.... 117.... Auditors Remuneration ... less accumulated depreciation....037............. Deprecia eciation (E) Depreciation All assets are depreciated on the straight line method at the rates prescribed in Schedule XIV of the Companies Act. the estimated future cash flows are discounted to the present value at the weighted average cost of capital. (D) ixed (D) Fixed assets SCHEDULE INTERES PAI NTEREST AID SC H EDULE . 152.. 2009 (iii) Accounting policies have been consistently applied by the Company.........818 436.. on a pro-rata basis..839 29...015....129.......LML Schedules forming part of the Profit and Loss Account SCHEDULE OT INC NCO SC H EDULE ....... rec ecognition (C) Re venue recognition Revenue is recognized to the extent that it is probable that the economic benefits 22. if any....852.......... estimates (B) Use of estimates 1.......821 23................ Dearness Allowance and Bonus ... Insurance . actual results could differ from these estimates... 2009 AND OT EXPENSES SCHEDULE MAN ANU CTU SC H EDULE ....380 23.025...... cost is determined on First in First out ( FIFO ) Basis...101 73. OTH ER I NCO ME As at December 31.331 59.964 75th Annual Report 2010 209 .............934 21... TOTAL .......030 439... Bank Charges .....13. Interest Revenue is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable.416 9. Sale of goods Revenue from sales is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer......000 91.... SELLI NG AN D EXPENSES OT H ER EXPENSES Rates and Taxes (Including Sale Tax Expense & Cess) .....459. TOTAL ... Wages.270...........12.... 2010 prepar epara (A) Basis of preparation (i) The financial statements have been prepared in accordance with the accounting principle generally accepted in India and comply in all material aspects with the Notified Accounting Standards specified in Companies (Accounting Standards) Rules...... Legal Expenses . 2010 2009 Interest .090 432.....524...... Explosive Written Off ..... impairment losses and specific grants received......207 8.....379 26...................... Mines Expenses and Other Charges MENTS AND PRO PAYMENTS TO AN D PROVISIONS EMPLO FOR EMPLOYEES Salaries.. 2010 Income Other Income Interest Income on Fixed Deposit ..........473 1..........388 297. 1956... As at December 31.. Royalties ........14..972 12...... 1....

e. ELAT PAR ARTY DISCLOSUR 2. Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Holcim Environment Services Sa.f. Associate Company of the Holding Company w. in respect of which a reliable estimate can be made. ontingencies Pro ( J) Contingencies / Provisions A provision is recognised when an enterprise has a present obligation as a result of past event. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. R ELAT ED PARTY DISC LOSU R E articulars Rela elated Parties.Subsidiary Financial Statements Investments (H) Investments Current Investments are stated at lower of cost or fair value. 2009 Promoter Group Company of the Holding Comapny Holcim India (P) Limited Promoter Group Company of the Holding Company Holcim Service (Asia) Limited Promoter Group Company of the Holding Company Holcim (Bangladesh) Limited Holcim Foundation Promoter Group Company of the Holding Company Promoter Group Entity of the Holding Company Holcim (Lanka) Limited Promoter Group Company of the Holding Company PT Holcim Indonesia Tbk Promoter Group Company of the Holding Company Siam City Concrete Co Limited Siam City Cement Public Company Limited National Cement Factory Promoter Group Company of the Holding Company Promoter Group Company of the Holding company Promoter Group Company of the Holding Company Holcim Group Support Limited Promoter Group Company of the Holding Company Holcim Limited Promoter Group Company of the Holding Company Holcim Singapore Limited Promoter Group Company of the Holding Company Holcim Trading FZCO Promoter Group Company of the Holding Company Holcim Services (South Asia) Limited Holcim (Canada) Inc. hence segment information as per Accounting Standard 17 is not required to be disclosed. Long term Investments are stated at cost. arties control ontr are common control ontr (A) Par ticulars of Related Par ties.e. Extraction and sale of lime stone. Associate Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company 210 ACC Limited . The Company is catering mainly to the need of the domestic market. Income taxes (I) Income taxes Tax expense comprises of current and deferred tax.e. Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the balance sheet date. Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligation at the balance sheet date. ACC Mineral Resources Limited (Formerly The Cement Marketing Company of India Limited) MP AMRL (Semaria) Coal Company Limited MP AMRL (Bicharpur) Coal Company Limited MP AMRL (Marki Barka) Coal Company Limited Joint Venture of Fellow Subsidiary ACC Mineral Resources Limited (AMRL) ACC Joint Venture of Fellow Subsidiary Mineral Resources Limited (AMRL) Joint Venture of Fellow Subsidiary ACC Mineral Resources Limited (AMRL) Fellow Subsidiary Company Natur ture Rela elationship Nature of Relationship Holding Company Fellow Subsidiary Company Rela elated Par arty Name of Related Par ty MP AMRL (Morga) Coal Company Limited National Limestone Co Pvt Limited Holderind Investments Limited elationship Natur ture Rela Nature of Relationship Joint Venture of Fellow Subsidiary ACC Mineral Resources Limited (AMRL) Fellow Subsidiary Company w. Deferred tax assets are recognised only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. Provision for diminution in value is made only if decline is other than temporary. all deferred tax assets are recognised only if there is virtual certainty supported by convincing evidence that they can be realised against future taxable profits. 01/04/2010.f. 28/01/2010. A contingent liability is disclosed. Deferred taxes reflect the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. Asian Concretes & Cements Pvt Limited Alcon Cement Company Pvt Ltd Ambuja Cement India Private Limited Ambuja Cements Limited Fellow Subsidiary Company Fellow Subsidiary Company w. unless the possibility of an outflow of resources embodying the economic benefit is remote. In situations where the company has unabsorbed depreciation or carry forward tax losses.f. as such there is no reportable Geographical Segments. which control or are under common control with Compan ompany the Company: Rela elated Par arty Name of Related Par ty ACC Limited Bulk Cement Corporation (India) Limited. share (K) Earnings per share Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. it is probable that an outflow of resources embodying economic benefit will be required to settle the obligation. Belgium Holcim Vietnam Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company ACC Concrete Limited Encore Cement and Additives Pvt Limited. Segment Repor eporting (L) Segment Reporting The Company is operating only in one significant business segment i. Current Tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. April 20.e.

as defined in the Micro.....Gupta Chairman As per our report of even date K.. 2010 Particulars Profit/(Loss) after taxation as per Profit & Loss Account in ` Lac . 2009 Quantity 110..88 458. Current Year 600 600 41. as a matter of prudence and in view of the absence of virtual certainty of future taxable income.. PRO PAR GRAPH ARA ADDITIONAL INFORMA PURSUANT 8. 112888 Mumbai........28) For the Period ended December 31.38 yment Statutor Auditors: tutory 6...........18 33.M.B....... For and on behalf of the Board of Lucky Minmat Limited.........94 107. The above information has been determined to the extent such parties have been identified on the basis of information available with the Company........S... (v) Security Deposit with ACC Limited ..........000 295............. Basic earnings per share (weighted average) in ` (Face Value – ` 100 per share) . 2011 9... TOTAL ...... however............... Actual Productions-During the Year ......00 31.............. Das S........D..70 77...................D.............B Dr..... This has been relied upon by the auditors........000 (1.17) 325..... There are no Micro....... 7.... Aiyar & Co......27 For the Year December 31............ Fees for Other Services (Limited Review etc...433 MT Previous Year 600 600 110...........LML ansaction Compan ompany (B) Transac tion with Holding Company ` Lac For the Year ended December 31.M. 2006 to whom the Company owes dues on account of principle amount together with interest and accordingly no additional disclosures have been made................ The Company has no employees on its payroll during the year.. S... Chartered Accountants Firm Registration No.......................... the company has deferred tax assets............00 (iiii) TDS/VAT/Service Tax/Royalty Paid on behalf of Lucky Minmat Limited By ACC Limited ....................... Dr. Small........ Singh S... 33.. Transportation Services to ACC Limited ..... ...............716 ` Lac 184.. Small and Medium Enterprises.........B............716 MT *As certified by management and accepted by the Auditors AXAT 4......... 100186W } Director 75th Annual Report 2010 211 . 2009 100..) . S.Gupta K..88 ARN SHARE-[EP E-[EPS] 3..........000 (4..........82) Licensed Capacity (MT per day) ..... EARN I NGS PER SHAR E-[EPS] For the Year ended December 31... MT (B) Particulars of Licensed..... 5. B.....K... 2009 184... Previous year figures are regrouped / restated wherever necessary to make them comparable with current year figures.65) 325.... Weighted average number of Equity Shares Outstanding ....... Medium Enterprises Development Act........ 71.. Nariman ................... 2009 Lime Stone ... In view of carried forward losses...433 ` Lac 71.......17 1.. Das Gupta K... 1956 (A) Sales by class of goods (Net) For the year ended December 31.......... (iv) Outstanding Credit balance to ACC Limited .............................000 125.......60 1......... TAXAT ION No provision for current tax is made in view of the losses for the year........ Installed Capacity* (MT per day) ...... Negandhi Partner Membership No......... 2010 100.. (Basic and Diluted EPS are same) (4.000 For the year ended December 31.S.... 2010 (i) (ii) Sales of Finished/Unfinished goods to ACC Limited(Net) .000 125. 2010 Unit Quantity 41..000 70..... the same has not been recognized in the financial statements...... Aiyar Co For K........... installed capacity and production of Lime stone ( 15.. PAR II ART SCHEDULE & 4 OF PART II OF SC H EDU LE VI TO T H E CO MPAN I ES ACT.. Fees for the Tax Audit ..... Payment to Statutor y Auditors: ` Particulars For the year ended December 31.. January 27.... Sachin A..... ADDITIONAL I NFORMAT ION PU RSUANT TO TH E PROVISIONS OF PARAGRAPH 3 COMPAN ANI ACT CT........000 225.......000 Audit Fees ........94 For the year ended December 31..

2 7 Net Current Assets 2 6 7 5 5 . three Produc oducts Services Compan ompany Generic name of three P rincipal Products / Services of Company (as per monetary terms) Item Code No.Subsidiary Financial Statements Additional Information pursuant to part IV of Schedule VI to the Companies Act. erf Compan ompany IV. 8 6 Profit Profit After Tax 4 1 7 . Performance of the Company (Amount in ` Thousands) Turnover 9 0 4 6 . 8 5 Misc. Expenditure N I L Total Assets 3 8 4 4 0 Reserves & Surplus 8 3 4 . 5 9 Accumulated Losses 6 5 0 8 . Position of Mobilisation and Development of Funds (Amount in ` Thousands) Total Liabilities 3 8 4 4 0 Sources Funds Sources of Funds Paid up Capital 3 2 5 0 0 Secured Loans N I L Application Funds Application of Funds Net Fixed Assets 5 0 . 4 1 Earning per share (in `) For Share of ` 100.00 each ( 1 . 9 2 Unsecured Loans N I L N I L State Code 1 7 Raised year Capital Raised during the year (Amount in ` Thousands) Public Issue N I L Bonus Issue 212 ACC Limited . 4 5 Profit Loss efor ore Profit / Loss Before Tax 4 1 7 . 4 1 Dividend Rate % N I L Investments 2 0 . U14219RJ1976PLC001697 U14219RJ1976PLC001697 3 1 1 2 2 0 1 0 Rights Issue N I L Private Placement N I L Mobilisation elopment Funds I I I. Balance Sheet Date I I. 2 2 IV. egistra Registration Details Registration No. 2 8 ) V. (ITC Code) Product Description 2 5 2 1 0 0 9 0 E X T R A C T I O N T R A N S P O R T A T I O N S A L E O F & L I M E S T O N E Total Expenditure 9 4 6 3 . 1956. Abstrac act Company’s General ompany’ Profile Balance Sheet Abstract and Company’s General Business Profile I.

1. The Company has not entered into any technology transfer agreement.18.68.99. read with the Companies (Particulars of Employees) Rules.052) – (5. Samar Bahadur Singh as an Additional Director of the Company with effect from October 18. 2009 (`) 1. 75th Annual Report 2010 213 Loss after Taxation Balance brought forward from previous year Balance carried forward to Balance Sheet OPERA 2. industrial relations at the Company’s unit continued to remain cordial and peaceful. K. 2010 (`) Sale of Products. ARTICULAR LARS EMPLO 6. The Company has incurred a loss before tax of ` 8.99. 1956. 5.052 for the nine months period ended December 31. 2010. S. IN DUSTR IAL RELATIONS ELAT RELA INDUST During the year under review.345 (5.528) For the period April 1.17. The Board has placed on record its appreciation of the valuable services rendered by Mr. OPERATIONS The total despatches for the year ended December 31.588) (5. ORS DIR ECTOR 7.22. 2010 were 39. . Hence the information as required under Section 217(1)(e) of the Companies Act 1956. 2007. K. Mr M. read with the Companies (Disclosure of Particulars in the Report of the Board of Directors) Rules. DIVIDEN DEND 3. DIVIDEND Your Directors do not recommend any dividend for the financial year ended December 31.26.99. Singh holds office till the date of the forthcoming Annual General Meeting. PART ICU LAR S OF CONSERVAT ION OF EN ERGY. resigned from the Board of Directors of the Company with effect from October 14. Dr. 2009. M. 1988. is NIL. DIR ECTORS The Board of Directors has appointed Dr. 2009. ERG ENER ONSERV CONSER LARS ARTICULAR CH NOLO ABSORP AND FOREIGN T E C H NOL O G Y ABSOR P T ION AN D FOR EIGN OUT EXC HANGE OUTGO There was no technology absorption and no foreign exchange earnings or outgo during the year under review. 2010. B.052) (14.640) – (5. Services and Other Income Loss before Tax Provision for Taxation Deferred Tax (7. his candidature for appointment as a Director is included at Item 5 of the Notice.588 as compared to a loss of ` 5.915 (8. FINANCIAL RESULTS FINANC NANCIAL RESU ESUL PARTICULARS For the year ended December 31. The loss after tax for the year ended December 31.99. Accordingly. 1975.18. Mishra as a Director of the Company.592 MT.052 for the nine months period ended December 31. 2010 is ` 8.N LC PL Directors’ Report TO THE MEMBERS OF NATIONAL LIMESTONE COMPANY PRIVATE LIMITED The Directors hereby present the Thirtieth Annual Report on the business and operations of the Company and the Audited Accounts for the year ended December 31.99.99. 2010 as compared to a loss of ` 5. 2009 to December 31.052) 85. 2010.052) 4. 2010. Mishra who was appointed as a Director of the Company with effect from November 17. As an Additional Director.26.528 for the year ended December 31.940) (8. PARTICULARS OF EMPLOYEES The Company has not employed any individual whose remuneration falls within the purview of the limits prescribed under the provisions of Sec 217(2A) of the Companies Act.

11. COMMITTEE 9. DIR ECTORS’ RESPONSIBI LITY STATEMENT To the best of their knowledge and belief and according to the information and explanations obtained by them. AU DIT COMMITTEE ST ORS’ ESPONSI DIRECTOR RESPONSIB 8. Your Directors also acknowledge the unstinting assistance and support received from ACC Limited. if any. The paid up Share Capital of the Company is less than Rupees Five Crore and hence the Company is not required to constitute an Audit Committee under provisions of Section 292A of the Companies Act. Krishan Mohan Gupta and Mr. AU DITORS M/s. 2010. Your Directors take this opportunity to express their appreciation of the excellent co-operation received from the Government and Company’s Bankers. The Members are requested to re-appoint them as Auditors of the Company for the year 2011. 1956. For and on behalf of the Board of Directors B.Subsidiary Financial Statements In accordance with the provisions of the Companies Act. Nariman Chairman January 27. Jaipur – 302 016 214 ACC Limited . 2011 Registered Office: G-9/C Kabir Marg. Chartered Accountants the existing Auditors have under Section 224(1B) of the Companies Act. the holding Company and all the employees for their valuable contribution during the year. iii) that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act. 1956: i) that in the preparation of the Accounts for the year ended December 31. your Directors make the following statement in terms of Section 217 (2AA) of the Companies Act. Bani Park. D. 2010 and of the Profit of the Company for the period ended on that date. have been prepared on a going concern basis. Sankarsan Dasgupta retire by rotation and are eligible for reappointment. furnished a certificate of their eligibility for re-appointment. 1956.. ACKNOWLEDGEMENT ACKNOWLEDGEMENT ii) that such accounting policies as mentioned in Note 1 of the Notes to the Accounts have been selected and applied consistently and judgements and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of the affairs of the Company as at December 31. the applicable accounting standards have been followed along with proper explanation relating to material departures. Mr. 1956. ORS AU DITOR 10. for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. 1956. K S Aiyar & Co. iv) that the accounts for the period ended December 31. 2010.

Aiyar Co Chartered Accountants Firm Registration No. S. An audit includes examining. As required by the Companies (Auditor’s Report) Order. 100186W Sachin A. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. so far as appears from our examination of the books. 2003 (as amended) (‘the Order’) issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act. 4. 1956. as at December 31. 2010. We believe that our audit provides a reasonable basis for our opinion. 2010. the Balance Sheet. ii) in the case of the Profit and Loss Account. we enclose in the annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order. 1956. in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act. An audit also includes assessing the accounting principles used and significant estimates made by management. Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act. d) in our opinion. of the cash flows for the year ended on that date. Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account. as well as evaluating the overall financial statement presentation. Our responsibility is to express an opinion on these financial statements based on our audit. proper books of account as required by law have been kept by the Company. we report that none of the directors of the Company are disqualified as on December 31. We conducted our audit in accordance with auditing standards generally accepted in India. e) on the basis of the written representations received from the directors. 1956. S. in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: We have audited the attached Balance Sheet of NATIONAL LIMESTONE COMPANY PRIVATE LIMITED. and also the Profit and Loss Account and the Cash Flow Statement for the year ended on that date annexed thereto. i) in the case of the Balance Sheet. to the members of the National Limestone Company Private Limited c) the Balance Sheet. These financial statements are the responsibility of the Company’s management.: 112888 Place: Mumbai Date: January 27. and taken on record by the Board of Directors. Further to our comments in the Annexure referred to in paragraph 3 above. of the loss of the Company for the year ended on that date. f) in our opinion and to the best of our information and according to the explanations given to us. we report that: a) we have obtained all the information and explanations. 2. which to the best of our knowledge and belief were necessary for the purposes of our audit. 2010 from being appointed as a director. 2011 Date: 75th Annual Report 2010 215 . on a test basis. of the state of affairs of the Company as at December 31. b) in our opinion. Negandhi Partner Membership No. 3. and iii) in the case of the Cash Flow Statement.N LC PL Auditor’s Report 1. the said accounts give the information required by the Companies Act. For K. as on December 31. Aiyar & Co. 1956. 2010. evidence supporting the amounts and disclosures in the financial statements.

Investor Education and Protection Fund. (b) The fixed assets are physically verified by the management during the year and in our opinion the frequency of verification is reasonable having regard to the size of the Company and the nature of its assets. (ix) (a) According to the records of the Company. 1956. Accordingly. 1956. (xx) The Company has not raised any money by way of public issue during the year. (iv) In our opinion and according to the information and explanations given to us. secured or unsecured from companies. Custom duty.According to the information and explanations given to us. there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchases of inventory and fixed assets and for the sale of goods and services. (c) and (d) are not applicable. Wealth tax. we report that funds raised on short-term basis aggregating to ` 8. (b) The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. there were no frauds on or by the Company noticed or reported during the course of our audit. no major weakness has been noticed in the internal control system in respect of these areas. Therefore. secured or unsecured to companies. 1956. (xiv) In our opinion. (viii) The Central Government has not prescribed the maintenance of cost records under section 209 (1) (d) of the Companies Act. cess and other statutory dues which were outstanding. Chartered Accountants Firm Registration No. (iii) (a) As informed. Provident Fund. (xix) According to the information and explanations given to us. (xxi) According to the information and explanations furnished by the management. (c) In our opinion and according to the information and explanations given to us. 1956. Excise duty and cess which have not been deposited on account of any dispute. 2010 of NATIONAL LIMESTONE COMPANY PRIVATE LIMITED) (i) (a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. employees’ state insurance. the Company has not granted any loans and advances on the basis of security by way of pledge of shares. S. Sales tax. (x) The Company has accumulated losses at the end of the financial year and has incurred cash losses during the financial year covered by our audit and in the immediately preceding financial year. the frequency of verification is reasonable.09 Lac have been utilised for financing the cash losses. the Company has not given guarantee for loans taken by others from bank or financial institutions. Therefore. (xi) According to the information and explanations given to us. firms or other parties covered in the register maintained under Section 301 of the Companies Act. excise duty. (v) (a) Based upon the audit procedures performed and according to the information and explanations given to us. (xii) Based on our examination of the records and the information and explanations given to us. Sales tax. the Company has not granted any loans. the Company has not taken any loans. 1956. the Company has not taken any money from financial institution. which have been relied upon by us.Subsidiary Financial Statements Annexure to the Auditor’s Report (Referred to in paragraph 3 of our Report of even date on the Accounts for the year ended December 31. (xviii) The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Companies Act. at the year end for a period of more than six months from the date they became payable. firms or other parties covered in the register maintained under Section 301 of the Companies Act. (b) As informed.: 112888 (vi) The Company has not accepted any deposits from the public to which the provisions of section 58A. bank or debenture holders and hence clause 4(xi) is not applicable. (b) According to the records of the Company. debentures and other investments. During the course of our audit. the provision of clause (xx) of the order is not applicable to the Company. Accordingly. Aiyar Co For K. the Company is not dealing in or trading in shares. the provisions of clause 4(xiv) of the Order are not applicable to the Company. No material discrepancies were noticed on such physical verification. or any other relevant provisions of the Companies Act. 58AA. cess and other material statutory dues applicable to it have been regularly deposited during the year with the appropriate authorities. the Company is maintaining proper records of inventory. (vii) The Company neither has a paid-up capital and reserves exceeding ` 50 Lac as at the commencement of the financial year. Accordingly. In our opinion. (xiii) In our opinion. debentures and other securities. sub-clause (b). (xvii)According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company. sales-tax. (xv) According to the information and explanations given to us. Service tax. S. Wealth tax. the provisions of clause 4 (xiii) of the Order are not applicable to the Company. Aiyar & Co. wealth-tax. Excise duty. (ii) (a) The inventories have been physically verified during the year by the management. sub-clause (b) is not applicable. Service tax. securities. the Company is not a chit fund or a nidhi / mutual benefit fund / society. Income tax. 100186W Place: Mumbai Date: Date: January 27. service tax. Employees’ State 216 ACC Limited . The discrepancies noticed on verification between the physical stocks and the book records were not material and have been properly dealt with in the books of account. no debentures were issued during the year. the directions in respect of internal audit are not applicable to the Company. Custom duty. Accordingly. Negandhi Partner Membership No. income-tax. there are no contracts or arrangements that need to be entered into the register maintained in pursuance of Section 301 of the Companies Act. there are no dues of Income tax. investor education and protection fund. sub-clause (f) and (g) are not applicable. nor does it have an average annual turnover exceeding ` 5 crore for the period of three consecutive financial years immediately preceding the financial year and therefore. Insurance. (c) No fixed assets are disposed off during the year. there are no undisputed dues in respect of provident fund. customs duty. 1956 and the Companies (Acceptance of Deposit) Rules 1975 apply. 2011 Sachin A. (xvi) The Company has not raised any term loans during the year.

.....28...67....... January 27.915 1......K... Private Limited......Gupta K............. 2010 ` For the Year For the Period Ended on from 1st April December to December 31. Reserves and Surplus ... Notes to Accounts ...125 15.940) (7......16...427 5.Gupta Chairman For K...125 12... Loans and Advances ......36.99.............. Schedules The schedules referred to above and notes to accounts form an integral part of the Profit and Loss Account As per our report of even date For and on behalf of the Board of National Lime Stone Co..... .....Singh ....640 12......061) 14.000 4.65.. Less: Accumulated Depreciation Net Block ........111 2. January 27..87............87.B..884 15......S.Nariman Dr.64..206 16...052) (14...K.387 15. APPLICA FU APPLICATION OF FU N DS: Fixed Assets: Gross Block .923 27.65.... 2011 75th Annual Report 2010 217 ......... 100186W } Director The schedules referred to above and notes to accounts form an integral part of the Balance Sheet As per our report of even date For and on behalf of the Board of National Lime Stone Co...396 (5......B......99.640) (94.....125 8... 8 1......78......B Dr...443 (8....S.061 1.36.18..............17..87..520 93.99..052) Other Income .16.S...... 2010 ` As at As at December 31.......95.M...42....63) (5............. ASSET (NET SSETS ET) TOTAL ASSETS (N ET ) ........73.Das K............S...... Loans and Advances: Inventory .097 4.052 12.... Cash and Bank Balances ...44............345 Profit and Loss Account for the year ended December 31....99...... Depreciation and Amortisation ..63.D..B Dr. Balance brought forward From Previous Period .. 11 Sachin A...D..179 6.07.68.........26.........065 5. 2011 (8.065 XPENDIT DITU E XPEN DITU R E: Manufacturing and Other Expenses .Nariman B....... 1 2 8....... 2009 Schedules SOUR FU SOURC ES OF FU N DS: Shareholders’ Funds: Share Capital ...06.756 20.D.832 3 13......125 Deferred Tax Liabilities (Net) ..B.....052) 5......M.066 Profit (Loss after axa oss) Profit / (Loss) after Taxation .. Profit & Loss Account .......... (7.04.....42......36.............940) (8.99.00.. 2010 2009 NCO I NCO ME: Sale of Products and Services ..940 12.. 4 5 6 7 5...........16.... FU TOTAL FU N DS ....65......B.298 1.. Chartered Accountants Firm Registration No....000 4........723 1..Singh ...25) Profit (Loss befor axa oss) ore Profit / (Loss) before Taxation ....052) (69........... K...Gupta Chairman K.... 10 93..179 6.22.09...... December 31... Aiyar Co Chartered Accountants Firm Registration No..633 6.... Current Assets........546 13.884 (10...06.... Negandhi Partner Membership No.M. 112888 Mumbai. 100186W } Director Sachin A..Nariman Dr......125 12.S.87.90..Singh S Das Gupta S..... 112888 Mumbai..... 9 85. Aiyar & Co.....314 85....723 Net Current Assets ...918 1..601 3.... B..125 7.S......... Private Limited. Balance carried to Balance Sheet Basic & Diluted Earnings per Share Notes to Accounts .663 Less : Current Liabilities and Provisions: Current Liabilities ...........113 7.D.Das K.......528) 7..95.....22.... Other Current Assets ..... Provision for Taxation Deferred Tax (Income) ...Nariman ..Singh S Das Gupta S.640 7..........69....07.N LC PL Balance Sheet as at December 31..Gupta K. 11 ` (5.....21....M.S....46...... Aiyar Co For K.. 2010 31..22........S...........95..052) 12.. Aiyar & Co.128 6.....S........73........17....206 6..588) (5..........S. Negandhi Partner Membership No..

92.....26......... Interest Received ..118 (8.....257 (5.........000 8....S.. 112888 Mumbai....78..650) Equity Shares of ` 100 each SUBSC BSCR SU BSC R I B ED 8.. Net increase / (decrease) in cash and cash equivalents Cash and cash equivalents : Opening Balance .. 2011 218 ACC Limited ......06... Direct Taxes refund / (paid) .30.......01..............528) 27..S..672 (5. Operating profit before working 2.Gupta K.8...........000 8....56... 4..999 2.000) Equity Shares of ` 100 each ISSUED ISSU ED 8....111 Add: Adjustment of Depreciation pertaining to earlier year on account of change in method of Depreciation TOTAL .. Other Receivables ... Cash from Inv Activities Net Cash from Investing Activities ......09........65....000 8.....986 6...90......... Chartered Accountants Firm Registration No....... . Cash from Opera Activities Net Cash from Operating Ac tivities Cash Flow from Investing Activities Interest Received ....90....068 4.474) 9.200 (8.650 (Previous Year ... Trade Receivables .................50.. Aiyar Co For K...314) (5...........00..679 439 2........Singh S Das Gupta S......... 2010 HORISED AUT HOR ISED 50............111 16....000 50.... 5.125 1.838 11..S. RESERVES AND SURPLUS As at December 31......02.....65....Nariman Dr....314 3...640 - Schedules forming part of the Balance Sheet SCHEDULE SHARE CAPIT APITAL SC H EDU LE .21...000 50... 4.........125 For and on behalf of the Board of National Lime Stone Co. 2009 SCHEDULE RESER ESERVES AND SURPLUS SCH EDULE ...146 (2.M.....64...... Aiyar & Co..........B...... Trade Payables .........32..Gupta Chairman K.65... 2010 2009 A......2.22.............D.314 9.D.000 8....322) (1........ capital changes ....00....15.90............. 100186W } Director Sachin A..B...00...... SHARE CAPITAL As at December 31........65...... Adjustments for: Depreciation ..Singh ..000 ` As at December 31.000 50..918) 2...... 2010 ` For year ended For the period from 1st from 1st January 2010 April 2009 to 31st to 31st December December.......75......80.. 4.65.....1.......78.....000 50...B Dr...K.......65...8... Cash generated from operations ................. Private Limited..00..Das K... 2010 General Reser eserv General Reserve ....520 (3..14.Subsidiary Financial Statements Cash Flow Statement for the year ended December 31.. Closing Balance . 6...... 1. Negandhi Partner Membership No....911 6...000 8..370) 1.14.S..... 2009 2.....097 (5..69.....Nariman B. As per our report of even date 3.99. January 27....650 (Previous Year ...... 8..125 ` As at December 31.....918) (5...........S.......052) 20...M....650) Equity Shares of ` 100 each (All the Shares held by ACC Limited the Holding Company and its nominees) TOTAL ..22... B..... Cash Flow from Operating Activities Net Profit / (Loss) before taxation .................. 3..165) 13.......................000 (Previous Year ..22.057 4....412) 18.

.198 33...........78.......46..05......... TOTAL .702 6....42....633 6.......19....006 6..4... Weight Machine ............3...546 7.....852 7...................015 8.........80.723 10............. 1....857 65......974 1.... TOTAL ..............017 2..622 32.154 47.....49.............44............42...........12....097 3... LOANS AN D ADVANC ES (Unsecured. Factory Building . Magazine/Explosive Warehouse ...283 43....082 4..06...179 13..113 8...61........478 6....554 13..... As at December 31.........80.......580 5..69......066 3.....36...... 2009 1...........154 47.....977 7..111 Advance to holding company .......128 ` 3..27.548 6.92.............69..554 13.232 5.000 16..113 3............83..... TOTAL .......032 576 708 1..............32........... Advance Payments Against Taxes .807 6........58...........154 47........ 2009 37........097 5....................759 2.....061 ` As at December 31..... SCHEDULE CA AND BAN BALANC ANK ALANCES SC H EDULE .........000 57.....05.......06......08.....369 1..................900 304 27....36......... Office Building .....066 - SCHEDULE INVENTORY NVENTOR SC H EDULE ..........017 1.16.....161 18.. 2010 NVENTOR ORY I NVENTORY Stock of Explosive ..111 5. In Fixed Deposits .............540 24..36.............206 ` As at December 31.....80............580 21..129 13... TOTAL .07.....161 8................. 2010 Accrued Interest .884 75th Annual Report 2010 219 .... Other Current Liabilities .......661 10.............161 13......7...591 35......... SCHEDULE LO AND ADVANCES SC H EDULE ........07............. CU R R ENT LIABI LITI ES 50.....640 1...69...000 1.........N LC PL Schedules forming part of the Balance Sheet SCHEDULE ASSET SSETS SC H EDULE ............. 2010 Balance with Scheduled Banks In Current Account ..............977 2.8........000 6. Total .......000 57.179 5.........851 1...............07.00....154 47...42... 2010 As at December 31...936 57.977 1...298 50.....324 15..100 34...6.... 2009 SCHEDULE OT CUR ASSET SSETS SC H EDULE ........................................651 3.683 4..... OT H ER CUR R ENT ASSETS As at December 31.161 18.... I NVENTORY As at December 31.................10......359 5...................281 1.................97...90...04.....73.....5.387 ` As at December 31.........977 7...82.......974 1....591 35... SCHEDULE CUR LIABI LITI SC H EDULE ...... etc..........283 43......064 9..36.. 2009 CUR LIABI LITI CU R R ENT LIABI LITI ES : Payable to holding company ...19..... unless otherwise stated) As at December 31.........459 40... TOTAL ........206 ` As at December 31... Stock of Limestone ..... CASH AN D BAN K BALANC ES As at December 31...836 57...........69.........808 36..232 5.....21..... 2010 Sundry Advances and Deposits.......63........... 3.... Plant & Machinery ...085 10.......... Tubewell ......04......... Sundry Creditors ... Advances Recoverable in cash or in Kind or for value to be received ...520 20..42.....000 5... Lease Hold Land .....161 9.......179 13.......... Considered Good.....179 3..164 9...........462 22..459 40....067 5. 11..........80.430 21..... Previous Period .07.........36. 2009 Prepaid Expense ........ FIXED ASSETS ASSET SSETS FIXED ASSETS GROSS BL AT COS OST GROSS BLO C K AT COST at As at 01-01-2010 at As at 31-12-2010 at As at 01-01-2010 TOTAL DEPRECIAT ECIA AMORTISA DEPR EC IAT ION / AM ORT ISATION F or the period Adjustment Adjustment due to method change Upto 31-12-2010 BL N ET BLO C K at As at 31-12-2010 at As at 31-12-2009 ` Tangible Assets : Freehold Land .............378 4.. 40.

........432 1.............369 6...753 55.... 1956.......... SELLI NG AN D OT H ER EXPENSES AND OT EXPENSES Rates and Taxes (Including Sale Tax Expense & Cess) ....................... estimates (B) Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period end......... Impairment (F) Impairment The carrying amounts of assets are reviewed at each Balance sheet date if there is any indication of impairment based on internal / external factors.....................000 5.. rec ecognition (C) Revenue recognition Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.......54......................... 2009 EXPENSES ANU CTU M AN U FACTU R I NG EXPENSES Stores and Spares parts Consumed .... Although these estimates are based upon management’s best knowledge of current events and actions..... Sale of goods Revenue from sales is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer....10.......Subsidiary Financial Statements Schedules forming part of the Profit and Loss Account INC NCO SCHEDULE OT SC H EDU LE ..66. Bank Charges ....12....55...........232 1.......................976 25................068 4. (D) ixed (D) Fixed assets Fixed assets are stated at cost of acquisition or construction including attributable interest and financial costs till such assets are ready for its intended use.........67... Auditors Remuneration .... AND OT EXPENSES SCHEDULE MAN ANU CTU SC H EDU LE .. 2010 31. ADMI IST MIN SELLING ADMI N ISTRATIVE........... impairment losses and specific grants received......... MANU FACTU R I NG AN D OT H ER EXPENSES ` (ii) Financial statements are based on historical cost and are prepared on accrual basis....... Stationary Expense .. TOTAL .........688 20.. TOTAL .....756 1....952 II.......201 5..... 1956........... if any...573 32...... The recoverable amount is greater of the assets net selling price and value in use................67... OT H ER I NCO ME ` For the year For the period year ended from 1st April December to December 31..... Professional Charges .............. Royalties . In assessing the value in use ..31....Mines Expenses and Other Charges . SIGN I FIC ANT A C C OU NT I NG P OLIC I ES AN D NOT ES FORMI NG PART OF T H E EMBER OUNT NTS ENDED DECEMB ACCOU NTS FOR T H E YEAR EN DED DEC EMB ER 31.. the estimated future cash flows are discounted to the present value at the weighted average cost of capital ......00.............10....... Investments (G) Investments Current Investments are stated at lower of cost or fair value.............. Expenses ....232 1........ Misc.....143 19................804 4.. Increase (Decrease) Stocks Increase / (Decrease) in Stocks Stocks Closing Stocks Finished Goods . Provision for diminution in value is made only if decline is other than temporary.......11.103 (iii) Accounting policies have been consistently applied by the Company...... For the year For the period year ended from 1st April December to December 31.................... Deprecia eciation (E) Depreciation All assets are depreciated on the straight line method at the rates prescribed in Schedule XIV of the Companies Act...............232 40...............9.......... I................... 2010 31.... actual results could differ from these estimates..06.000 1... Previously recognized impairment loss is further provided or reversed depending on changes in circumstances.809 1..162 2..885 15. Long term Investments are stated at cost..... 63.. 220 ACC Limited ................918 NTS SCHEDULE NOT AC OUNT SC H EDU LE .933 1.232 7.........930 59. 3.... Stocks Opening Stocks Finished Goods .... 2009 Income Other Income Interest Income . NOTES TO ACCOUNTS NTI POLIC OLICI AND NOT PAR ART SIGNI FICANT AC OUNT 1..... Loading..... which is generally on dispatch of products and is stated net of returns......279 23..946 88..13.......... less accumulated depreciation...................... except where impairment is made and revaluation is carried out..612 25. Interest Revenue is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable.........314 5...... An impairment loss will be recognized wherever the carrying amount of an asset exceeds its estimated recoverable amount.918 5..........170 570 12....314 3. 2006 prescribed by the Central Govt and the relevant provisions of the Companies Act..........923 1....48. Transportation...... on a pro-rata basis................. Legal Expenses ......... Travelling Expenses ....51.......... Power and Fuel (Diesel & Electricity) .... 2010 prepar epara (A) Basis of preparation (i) The financial statements have been prepared in accordance with the accounting principle generally accepted in India and comply in all material aspects with the Notified Accounting Standards specified in Companies (Accounting Standards) Rules............ 93..

which control or are under common control with the Company: Details of Related parties after acquisition by ACC Limited are as follows.e. Deferred taxes reflect the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. 28/01/2010.N LC PL Income taxes (H) Income taxes Tax expense comprises of current and deferred tax. Belgium Natur ture Rela elationship Nature of Relationship Holding Company Fellow Subsidiary Company Fellow Subsidiary Company Holcim Services (South Asia) Limited Holcim Trading FZCO Holcim Singapore Limited Holcim Limited Holcim Group Support Limited National Cement Factory Siam City Concrete Co Limited Promoter Group Company of the Holding Company Siam City Cement Public Company Limited Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Holcim (Canada) Inc. In situations where the company has unabsorbed depreciation or carry forward tax losses. ELAT PAR ARTY DISCLOSUR 2. hence segment information as per Accounting Standard 17 is not required to be disclosed. Current Tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. it is probable that an outflow of resources embodying economic benefit will be required to settle the obligation. in respect of which a reliable estimate can be made. Associates Company of the Holding Company w. R ELAT ED PARTY DISC LOSU R E Particulars of Related Parties.e. as such there is no reportable Geographical Segments.f. ontingencies Pro (I) Contingencies / Provisions A provision is recognised when an enterprise has a present obligation as a result of past event. Promoter Group Company Fellow Subsidiary Company Associate Company of the Holding Company Fellow Subsidiary Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Entity of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company 75th Annual Report 2010 221 . These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the balance sheet date.e.f 01/04/2010 PT Holcim Indonesia Tbk Holcim (Lanka) Limited Holcim Foundation Holcim (Bangladesh) Limited Holcim Service (Asia) Limited Holcim India (P) Limited Lucky Minmat Limited Holderind Investments Limited Rela elated Par arty Name of Related Par ty Ambuja Cement India Private Limited Ambuja Cements Limited ACC Concrete Limited Alcon Cement Company Private Limited ture Rela elationship Natur Nature of Relationship Promoter Group Company. Extraction and sale of lime stone. unless the possibility of an outflow of resources embodying the economic benefit is remote. Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Encore Cement and Additives Private Limited Fellow Subsidiary Company w. Rela elated Par arty Name of Related Par ty ACC Limited Bulk Cement Corporation (India) Limited ACC Mineral Resourcing Limited (Formerly The Cement Marketing Company of India Limited) MP AMRL (Semaria) Coal Company Limited Joint Venture of Fellow Subsidiary ACC Mineral Resources Limited (AMRL) MP AMRL (Bicharpur) Coal Company Limited MP AMRL (Marki Barka) Coal Company Limited MP AMRL (Morga) Coal Company Limited Joint Venture of Fellow Subsidiary ACC Mineral Resources Limited (AMRL) Joint Venture of Fellow Subsidiary ACC Mineral Resources Limited (AMRL) Joint Venture of Fellow Subsidiary ACC Mineral Resources Limited (AMRL) Asian Concretes & Cements Private Limited Holcim Vietnam Holcim Environment Services Sa. all deferred tax assets are recognised only if there is virtual certainty supported by convincing evidence that they can be realised against future taxable profits. Deferred tax assets are recognised only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. (K) Segment Repor ting Segment Repor eporting The Company is operating only in one significant business segment i. The company is catering mainly to the need of the domestic market. A contingent liability is disclosed. ( J) Earnings per share share Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligation at the balance sheet date.

. 2010 31............... In view of carried forward losses................000 1......... Aiyar Co For K... (94.... 10...M.... 1956 Profit /(Loss) after taxation as per Profit and Loss Account .31.......... Small......... This has been relied upon by the auditors. 2010 31...... MT 39....000 50.. 2009 75.............. 2011 222 ACC Limited ....as additional Royalty on Limestone extracted in earlier years which in view of Company is legally unsustainable and the Company does not expect any liability in this matter.... 112888 Mumbai.650 (5..... The above information regarding Micro.......16 12... January 27... ONTIGENT LIABI NOT PROVIDED 5............... 2010 31.0 (B) Particulars of Licensed. as defined in the Micro... For the year For the period year ended from 1st April December to December 31..16 (There are no Potential equity shares and hence there is no working for diluted earning per share) AXAT 4..Subsidiary Financial Statements ansaction compan ompany (b) Transaction with Holding company Transaction with Related Party ` Lac For the year For the period year ended from 1st April December to December 31....99 ` Lac For the year For the period year ended from 1st April December to December 31....... (iv) Outstanding balance (Net) to ACC Limited . Hence the accounts have been prepared on a going concern basis....................... 7.. Pa yment to Statutor y Auditors: Particulars ` For the year For the period year ended from 1st April December to December 31..S.......T Paid on behalf of National limestone Private Limited By ACC Limited (iii) Transportation charge Recovery from ACC Limited .77 127.... (ii) Dead Rent / Land tax / F..... 25........ The company has obtained support from ACC Limited (Holding Company) assuring continuous support to finance the operation of the company which being turned around after acquisition.... 2010 Quantity Lime Stone .. the company has deferred tax assets.. The Company has accumulated losses at 31st Dec 2010.......10 76.63) (69..50 ` Lac 2009 Cumulative 77.....K.....M... 2006 to whom the Company owes dues Sachin A. Chartered Accountants Firm Registration No...... as a matter of prudence and in view of the absence of virtual certainty of future taxable income..... Weighted average number of Equity Shares Outstanding Basic earnings per share (weighted average) in ` (Face Value – ` 100 per share) ...... Actual Productions-During the Year (Limestone) ............ CONTIGENT LIAB I LITY NOT PROVI DED FOR Demand for land tax. 6.000 1..Singh .... There are no Micro....B..Nariman B...58 1....S...99) 8. Fees for other services ...65 12.. 2010 31......S..B Dr..... 2009 Licensed Capacity Limestone (MT per day) ... Small and Medium Enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company....................18) 8.592 MT 300 MT 300 MT 538 MT For the year 38. ARN SHARE-[EP E-[EPS] 3...88 9.... 4 OF PART I I OF SCH EDULE VI TO TH E CO MPAN I ES ACT..650 (A) Sales by class of goods (Net) Unit For Year ended December 31...........592 ` Lac 85.....000 (i) Sale to ACC Limited .Gupta K... Aiyar & Co.. 38.... Signatures to Schedules 1 to 11 Per out report attached K..... the same has not been recognized in the financial statements. 300 MT 300 MT 39........... Installed Capacity*Limestone (MT per day) ...B..B......Singh S Das Gupta S..........Das K.S........S. yment Statutor Auditors: tutory 9. Small and Medium Enterprises..... Installed Capacity & Production...06...25) (8... TAXAT ION No provision for current tax is made in view of the losses for the year. EAR N I NGS PER SHAR E-[EPS] Particulars Audit Fees .......5 *As certified by management and accepted by the Auditors 12... .......Nariman Dr.000 56.D..5 2010 Cumulative 115...........Gupta Chairman } Director 8.... 2009 Quantity 538 ` Lac 1.. and the net worth is negative.... ADDITIONAL IN FORMATION PU RSUANT TO TH E PROVISIONS OF PARAGRAPH 3 & PAR II ART SCH EDULE COMPAN ANI ACT CT... Year For the year Amount ..... TOTAL .. and Medium Enterprises Development Act...... The Company has no employees on its payroll during the year PRO PAR GRAPH ARA ADDITIONAL IN FORMA PURSUANT 11. however....437 /.....66 For Year ended December 31.D... 2009 85...... Previous period figures are regrouped / restated wherever necessary to make them comparable with current year figures... 2009 on account of principle amount together with interest and accordingly no additional disclosures have been made..........000 56. 100186W For and on behalf of the Board The Company has filed a petition against the Order / Notices of Mining Authorities towards a demand of ` 99..97 1....... Negandhi Partner Membership No.

N LC PL Additional Information pursuant to part IV of Schedule VI to the Companies Act. 6 3 ) V. U26944RJ1981PT U26944RJ1981PTC00227 3 1 1 2 2 0 1 0 Rights Issue N I L Private Placement N I L Mobilisation elopment Funds I I I. three Products/Services oducts/Ser Compan ompany Generic name of three Principal Products/Services of Company (as per monetary terms) Item Code No. erf Compan ompany IV. Abstrac act Company’s General ompany’ Profile Balance Sheet Abstract and Company’s General Business Profile I. Expenditure N I L Investments N I L Unsecured Loans N I L Total Assets 1 3 5 4 3 Reserves & Surplus 4 2 2 N I L State Code 1 7 raised year Capital raised during the year (Amount in ` Thousands) Public Issue N I L Bonus Issue 75th Annual Report 2010 223 . Performance of Company (Amount in ` Thousands) Turnover 8 5 6 9 Profit Loss efor ore Profit / Loss Before Tax 8 2 6 Earning per share (in `) For Share of ` 100. (ITC Code) Product Description 2 5 2 1 0 0 9 0 E X T R A C T I O N T R A N S P O R T A T I O N & S A L E O F L I M E S T O N E Dividend Rate % N I L Total Expenditure 9 3 9 5 Profit Profit After Tax 8 1 8 Misc. Position of Mobilisation and Development of Funds (Amount in ` Thousands) Total Liabilities 1 3 5 4 3 Sources Funds Sources of Funds Paid up Capital 8 6 5 Secured Loans N I L Application Funds Application of Funds Net Fixed Assets 6 7 9 Net Current Assets ( 8 0 9 ) Accumulated Losses 1 4 1 8 IV. Balance Sheet I I. egistra Registration Details Registration No. 1956.00 each ( 9 4 .

86 (315.15) (697.15) (645. industrial relation at the Company’s unit continued to remain cordial and peceful. The sale of Ground Slag during the year was 7.Subsidiary Financial Statements Directors’ Report TO THE MEMBERS OF ENCORE CEMENT AND ADDITIVES PRIVATE LIMITED The Directors hereby present their Fifth Annual Report together with the audited Accounts for the year ended December 31. Maharshi Karve Road.1956. read with the Companies (Disclosure of Particulars in the Report of Board of 2. Mumbai 400 020.15 358. 121.242.71) 130. FINANCIAL RESULTS (` Lacs) PARTICULARS Sale of Products (excluding of Excise Duty) and other income Less: Expenditure other than Depreciation and Interest Loss before Depreciation and Interest Less: Depreciation Interest Loss before Tax Provision for Taxation Loss after Taxation Balance brought forward from previous period Balance carried forward to the next year’s account 2010 (Jan to Dec) 2009 (April to Dec) Continuous efforts are on for modification/ replacement of facilities with a view to improving plant operations and saving cost.13) (620. 9. Capacity utilisation was 34.77%.570 MT (including 490 MT of export) as against Nil during the nine months ended December 31. DEND DIVIDEN DIVIDEND Your Directors have not recommended payment of dividend for the year under review.15 lacs during the nine months period April to December 2009. 2009. NOVER AND PROFIT TU R NOVER AN D PROFIT The year 2010 recorded an Income of ` 2.15 lacs as compared to a loss of ` 620.825 MT (including 185 MT for self consumption) as against NIL during previous period April to December 2009. the Holding Company. FINANC NANCE FI NANCE During the year under review the Company discharged secured loans taken from Banks by taking interest free unsecured loans from ACC Limited. FINANC NANCIAL RESU ESUL 1.576. 4.39 lacs net of Excise Duty as compared to ` 43.680 MT as against NIL during the nine months period April to December 2009.02 174.40 (620.01) (1.342. 6.01) 2.34 117. Production of Ground Slag during the year was 32.39 2. IN REGIS ERED OFFICE EGIST CHANGE I N TH E REGIST ERED OFFICE During the year.13 lacs during the nine months period ended December 31. 224 ACC Limited . Kharathabad. INDUS DUST RELAT INDUSTR IAL RELATIONS During the year under review.242.010 MT as against NIL during the previous period. 2009. CH NOLO ABSORP AND FOREIGN T E C H NOL O G Y ABSOR P T ION AN D FOR EIGN EAR ARN AND OUT EXC HANGE EARN I NG AND OUTGO As required under section 217(1)(e) of the Companies Act. Hyderabad 500 040 to ‘Cement House’.13) (76. 3. 7. Beside Andhra Prabha Office. ARTICULAR LARS CONSER ONSERV ENER ERG PARTICU LARS OF CONSERVAT ION OF EN ERGY.16) 43.89) (697. OUT OUTLO OK The Company expects significantly improved operations in terms of cement sales volume in the current year. 5. 2010.98 (645. 8. The sale of cement during the year was 72. The loss for the year 2010 is ` 645.83) 193. Cement production during the year was 73. the Company changed its Registered Office from 6-3-240/6/1 Sharadha Street. Prem Nagar.22 (333. OPERA DUR OPERATIONS DUR I NG TH E YEAR The Company started production of Portland Slag Cement (PSC) in the month of March 2010.

Visakhapatnam Special Economic Zone and the Company’s Bankers. Nariman. DITOR ORS 13. For and on behalf of the Board of Directors Sunil Nayak Chairman Mumbai January 31. Mr KBS Swamy who was appointed as an Additional Director of the Company with effect from March 27. for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. 1956 read with the (Particulars of Employees) Rules. 2010 resigned as a Director with effect from July 15. 75th Annual Report 2010 225 . The Members are requested to re-appoint them as Auditors of the Company for the year 2011. the existing Auditors have under Section 224(1B) of the Companies Act. technology absorption and foreign exchange earnings and outgo are set out in Annexure ‘A’ to the Directors’ Report. DIRECTOR RESPONSIB ORS’ ESPONSI ST 12. the particulars in respect of conservation of energy. Chartered Accountants. In accordance with the Provisions of the Companies Act. KNOWLEDGEMENT 14. that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act.D. DIR ECTORS’ RESPONSIBI LITY STATEMENT To the best of their knowledge and belief and according to the information and explanations obtained by them. AC KNOWLEDGEMENT The Directors take this opportunity to express their grateful appreciation for the excellent assistance and cooperation received from the Rastriya Ispat Nigam Limited. Mr Sunil Nayak and Mr B. Your Directors also thank all the employees of the Company for their valuable services and support during the year. Directors retire by rotation and being eligible offer themselves for re-appointment. that the annual accounts have been prepared on a going concern basis iv. 1975. 2011 ii. that such accounting policies as mentioned in Note 1 of the Notes to Accounts have been selected and applied consistently and judgements and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of the affairs of the Company as at December 31. your Directors’ make the following statements in terms of section 217(2A) of the Companies Act. 2010. 2010. 2010 and of the Profit of the Company for the year ended on that date. 1956 and the Company’s Articles of Association. The Board has placed on record its appreciation of the valuable services rendered by the aforesaid Directors.ENCOR ORE ENCOR E Directors) Rules. 1956. furnished a certificate of their eligibility for re-appointment. 1956. K S Aiyar & Co. ARTICULAR EMPLO 10. PARTICULAR OF EMPLOYEES The Company has not employed any individual whose remuneration falls within the purview of the limits prescribed under the provisions of Section 217(2A) of the Companies Act. 2010 the applicable accounting standards have been followed along with proper explanation relating to material departures if any. AU DITORS M/s. 1956 i. 1988.. iii. 2010 resigned as a Director with effect from July 15. that the preparation of the Annual Accounts for the year ended December 31. DIR ECTORS Mr V K Agnihotri who was appointed as a Director of the Company with effect from January 28. DIR ECTOR ORS 11.

636 Total (`) 1.153.268.Subsidiary Financial Statements Annexure ‘A’ to Director’s Report Statement pursuant to Section 217(1)(e) of the Companies Act. 1988 ERG ENER ONSERV (A) CONSERVATION OF ENERGY a) Energy conservation measures taken: O Elimination of Screw Conveyor and Elevator for packer spillage Material (11.22 Previous Year (Nine Months Ended) Units (KWH) NIL* Total (`) 85.52.7 Total (`) Average Rate (`/Tonnes) 3. Electricity Purchased 36. d) Total energy consumption and energy consumption per unit of production as per Form A.29 * There have been no power consumption nor any production of Slag in the previous period.53. However.97 Previous Year (Nine Months Ended) Quantity (Tonnes) NIL* Total (`) Average Rate (`/Tonnes) NIL* NIL* 40.5 KW) Magnetic Separator in Ball Mill circuit is operated with one Vibrator instead of two Vibrators (2.2 KW) Utilisation of old GGBS (15%) by adding to separator thereby increasing Mill Output Reduction of Coal consumption by utilising Cut Bags of OPC Use of one Blender with 45 TPH capacity as against its capacity of 30 TPH Replacement of Halogen lamps of 1000W (20 Nos) with 150W (20 nos) Sodium Vapour Lamps O O O O O b) Additional investment and proposals for reductions of energy consumption: O Process optimisation of Slag Grinding Section for conservation of energy c) The impact of the measures at (a) to (b) above for reduction of energy consumption and consequent impact on the cost of production of goods: O Savings in energy consumption and consequent reduction in the cost of production.00 ` per Unit NA* Current Year Quantity (Tonnes) 2. fixed power cost had been paid.436.804.634. 226 ACC Limited . Coal for Slag Dryer 1.12. Form A Fuel Consumption ower Power and Fuel Consumption Current Year Units (KWH) 1.01.79. 1956 read with the Companies (Disclosure of Particulars in the Report Board of Directors) Rules.00 ` per Unit 4.

Coal/T of Dried Slag ABSORP ECHNOLO (B) TECH NOLOGY ABSORPTION There is no Reserch and Development (R&D) activity nor any absorption. adaption and innovation in techniology carried out by the Company. There was no outflow of Foreign Exchange during the year For and on behalf of the Board of Directors Sunil Nayak Chairman Mumbai January 31. Electricity KWH/T Cement b.ENCOR ORE ENCOR E Consumption per Unit of Production Current Year a.04 75th Annual Report 2010 227 .27 0.19 lacs foreign Exchange earned during the year against export of Slag. 2011 Previous year NIL* NIL* 48. An amount of ` 4.

on a test basis. An audit also includes assessing the accounting principles used and significant estimates made by management. b) in our opinion. in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: i) in the case of the Balance Sheet. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. 100186W Aiyar Raghuvir M. the Balance Sheet. S. Aiyar Partner Membership No.: 38128 iii) ii) f) in our opinion and to the best of our information and according to the explanations given to us. 2010. we report that: a) we have obtained all the information and explanations. as at December 31. These financial statements are the responsibility of the Company’s management. 2010. We conducted our audit in accordance with auditing standards generally accepted in India. Aiyar Co Chartered Accountants Firm Registration No. of the state of affairs of the Company as at December 31. in our opinion. We have audited the attached Balance Sheet of Encore Cement & Additives Private Limited. e) d) c) the Balance Sheet. 2003 (as amended) issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act. 3. annexed thereto. 1956. evidence supporting the amounts and disclosures in the financial statements. as well as evaluating the overall financial statement presentation. Place: Mumbai Date: January 31. of the cash flows for the year ended on that date. 2010 from being appointed as a director. As required by the Companies (Auditor’s Report) Order. on the basis of the written representations received from the directors.Subsidiary Financial Statements Auditor’s Report to the members of the Encore Cement & Additives Private Limited 1. Further to our comments in the Annexure referred to in paragraph 3 above. and taken on record by the Board of Directors. S. and in the case of the Cash Flow Statement. proper books of account as required by law have been kept by the Company. 4. as on December 31. 228 ACC Limited . we report that none of the directors of the Company are disqualified as on December 31. the said accounts give the information required by the Companies Act. 1956. 1956. We believe that our audit provides a reasonable basis for our opinion. in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act. Aiyar & Co. which to the best of our knowledge and belief were necessary for the purposes of our audit. 1956. and also the Profit and Loss Account and the Cash Flow Statement for the year ended on that date. An audit includes examining. in the case of the Profit and Loss Account. Our responsibility is to express an opinion on these financial statements based on our audit. 2010. so far as appears from our examination of the books. we enclose in the annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order. 2. 2011 For K. Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act. Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account. of the loss of the Company for the year ended on that date.

or any other relevant provisions of the Companies Act. A substantial portion of the fixed assets has been physically verified by the management during the year and in our opinion the frequency of verification is reasonable having regard to the size of the Company and the nature of its assets. 1956. the Company has not given guarantee for loans taken by others from bank or financial institutions. During the course of our audit. which have been relied upon by us. The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. the Company is not a chit fund or a nidhi / mutual benefit fund / society. Based on the Audit procedures performed and according to the information and explanations given to us there are no transactions that need to be entered into the register maintained in pursuance of section 301 of the companies Act. the provisions of clause 4 (xiii) of the Order are not applicable to the Company. wealth-tax. Aiyar Co For K. (xvii) According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company. the Company has not taken any loans.: 38128 (b) (c) (ii) (a) (b) (c) (iii) (a) (b) (iv) In our opinion and according to the information and explanations given to us. Accordingly sub clause (b) is not applicable. Aiyar Partner Membership No. employees’ state insurance. debentures and other securities. bank or debenture holder. Accordingly. the Company is maintaining proper records of inventory. (xii) Based on our examination of the records and the information and explanations given to us. excise duty.08 lac have been partially utilised for financing the cash losses and partially for long-term investment in fixed assets. Chartered Accountants Firm Registration No. no major weakness has been noticed in the internal control system in respect of these areas. securities. (c) and (d) are not applicable. customs duty. Aiyar & Co. however. there are no undisputed dues in respect of provident fund. the provisions of clause 4(xiv) of the Order are not applicable to the Company. and hence clause (4) (xi) is not applicable to the company. 1956. S. 1956. Therefore the provisions of clause (xix) of the order are not applicable to the company. Accordingly. the provision of clause (xx) of the order is not applicable to the Company. the Company has not raised any loans during the period. Wealth tax. made and maintained. and are of the opinion that prima facie. service tax. (xviii) The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Companies Act. 1956. there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchases of inventory and fixed assets and for the sale of goods and services. Excise duty. The inventories have been physically verified during the year by the management. Accordingly. According to the information and explanations given to us. Income tax. sales-tax. Custom duty. debentures and other investments. As informed. S. the prescribed accounts and records have been (v) (vi) (vii) (viii) 75th Annual Report 2010 229 . (xx) The Company has not raised any money by way of public issue during the year. sub-clause (f) and (g) are not applicable. investor education and protection fund. Provident Fund. the Company has not granted any loans. the Company has not granted any loans and advances on the basis of security by way of pledge of shares. (xi) According to information and explanations given to us the company has not taken any money from any financial institution. sub-clause (b). No material discrepancies were noticed on such physical verification. the Company is not dealing in or trading in shares. Therefore. the frequency of verification is reasonable. 1956. firms or other parties covered in the register maintained under Section 301 of the Companies Act. (xiv) In our opinion. In our opinion. (ix) According to the records of the Company. there were no frauds on or by the Company noticed or reported during the course of our audit. In our opinion. 2011 Aiyar Raghuvir M. We have not. we report that funds raised on short-term basis aggregating to ` 2. we are of the opinion that the disposal of fixed assets has not affected the going concern status of the Company. (xix) The Company has not issued any debentures during the year. The Company has not accepted any deposits from the public to which the provisions of section 58A. (xv) According to the information and explanations given to us.ENCOR ORE ENCOR E Annexure to the Auditors’ Report (Referred to in paragraph 3 of our Report of even date) (i) (a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. Investor Education and Protection Fund. (xxi) According to the information and explanations furnished by the management. income-tax. (x) The Company has accumulated losses at the end of the financial year and has incurred cash losses during the financial year covered by our audit and in the immediately preceding financial year. The discrepancies noticed on verification between the physical stocks and the book records were not material and have been properly dealt with in the books of account. secured or unsecured from companies. Sales tax. made a detailed examination of the same. 100186W Place: Mumbai Date: January 31. at the period end for a period of more than six months from the date they became payable. 58AA. 1956 and the Companies (Acceptance of Deposit) Rules 1975 apply. Fixed assets disposed off during the year were not substantial. (xiii) In our opinion. Service tax.693. As informed. Employees’ State Insurance. Therefore. According to the information and explanations given to us. cess and other material statutory dues applicable to it have been generally regularly deposited during the year with the appropriate authorities. cess and other statutory dues which were outstanding. firms or other parties covered in the register maintained under Section 301 of the Companies Act. In our opinion and according to the information and explanations given to us. the Company has an internal audit system commensurate with the size and nature of its business. (xvi) According to the information and explanations given to us. secured or unsecured to companies. We have broadly reviewed the books of account maintained by the Company pursuant to the rules made by the Central Government for the maintenance of cost records under Section 209(1)(d) of the Companies Act.

.....373..261.49) (62....494...............946.........38128 Mumbai.......000....72 Less : Current Liabilities and Provisions : Current Liabilities ... 100186W Aiya R aghuvir M.21 19....914.936.. January 31....S.000......937...682.........757....00 K...356...895........60 479.....360............. Burjor D... Notes to Accounts ......00 162.......876...... 9 10 53......257. Loan Funds : Secured Loans ..... January 31.....001.423....00 805.......937.....000.00 17.00 Profit and Loss Account for the year ended December 31...... Reddy Chief Excutive Officer 327....00 1 50........016......387..........00 50...494.. 2010 ` As at December 31...00 13... ASSET SSETS T OTAL ASSETS (Net) ......00) - (64....... Balaji Head Finance And Company Secretary Mumbai.....315...216.805...622..036....628. Burjor D.....951............17 9....264.....186.............160.... 2010 As at December 31.... Chartered Accountants Firm Registration No.....00 The schedules referred to above and notes to accounts form an integral part of the Balance Sheet As per our report of even date For and on behalf of the Board of Encore Cement and Additives (P) Ltd Nay Sunil Nay a k Chairman Reddy C.423.... Less: Depreciation .00) (7..00 10...00 4.S...798...475.... Cash and Bank Balances . Interest .....691......000..886............. Notes to Accounts .. 2011 The schedules referred to above and notes to accounts form an integral part of the Balance Sheet As per our report of even date For and on behalf of the Board of Encore Cement and Additives (P) Ltd Nay Sunil Nay a k Chairman Reddy C.16 XPENDIT DITU E XPEN DITU R E: For the period ended December 31......M.817...929..876..... 100186W Aiya R aghuvir M.671...571.........701. Loans and Advances : Inventories ......... Unsecured Loans ....00 241........ Less: Excise Duty ..20 22......00 12 11.....707......... Depreciation ..00 4.99 224..480...758......... Sundry Debtors .440..091.. Loans and Advances ...... 11 257.514.648..00 149............00 (12......970...222. 2009 Schedules Sources Funds Sources of Funds : Shareholders’ Funds Share Capital ..803.17 214.............876..49) (69..929....905.....480...686......388.138.701...........109.... 13 8...375....107. Chartered Accountants Firm Registration No.......904..737...994..211.373........00 241.368....797............ 2010 249.............20 2.134.......333......289.60 Net Current Assets .315..754.49 65...00 64....00 327. Other Income . rofit (Loss Af oss) P rofit / (Loss) Af ter Ta x ...........084..........117.00 101...... 2011 230 ACC Limited .... Nariman Director M.....000.................. Provisions .012..138... 2 3 89.. 2011 D..... Balance brought forward from previous period Balance carried to Balance Sheet Earning per Share Basic and Diluted Earnings per Share Face value per Share ...............38128 Mumbai. 13 ` ` (64...688.......00 55..00) (12......534.752..801.239..39 172.......653.................138... Aiya r Partner Membership No.012..........00 (1.....65 66............737.216.00) (134... Net Block ....00 Current Assets.....00 185.........00 21.222... January 31.. 2011 K........ Balaji Head Finance And Company Secretary Mumbai........000..315....869...869. Aiyar & Co .00 41..44 rofit (Loss Befor oss) ore xa P rofit / (Loss) Before Ta xa tion Provision Taxation .....00 35.............350.......M.000.00) (69..609........ Reddy Chief Excutive Officer D........514.00 Schedules CO I N CO ME: Sales ...00 199.............614....00 Application Funds: Application of Funds: Fixed Assets Gross Block ..035......Subsidiary Financial Statements Balance Sheet as at December 31. January 31....90) 10................937.327..425...... Aiyar & Co ....12 134........49) (62........ Aiyar Co F or K......S.....00 36..61 181.........40) 10..186.442..70 2..S.451..... 2009 4........... Aiyar Co F or K. Aiya r Partner Membership No.00 Manufacturing Expenses ..505.701..674.......472. Profit and Loss Account ...............494...706. 2010 ` For the year ended December 31...050............827.276. 277......39 3...00 54..297...00 65............ 5 6 7 8 35..... Net Sales .....00) 69. Capital work-in-progress (including Capital Advance) 4 236.. Nariman Director M..00 288.34 35.569...62 62......

...569..900...000.....702...725) 46.. From Others ..542............... For and on behalf of the Board of Encore Cement and Additives (P) Ltd Nay Sunil Naya k Chairman Reddy C.. fully paid) (All the Shares (Previous year Nil) are held by ACC Limited........000.....534) (10.........................000....000.021........190.. 2009 SCHEDULE SECUR LO SC H EDULE ... Adjustments for : 2 Depreciation ....... Cash from opera activities Net Cash flow from operating activities ..........000 (31........ (Term Loan from Syndicate Bank......2 SECU R ED LOANS As at December 31..............ENCOR ORE ENCOR E Cash Flow Statement for the year ended December 31.403) (591. inv activities Net cash used in investing activities ......000...737) 13..00 50.................758.....00 ` As at December 31.... 50......000.....937..000 Equity Shares of ` 10 each. Aiya r Partner Membership No.509.000............00 300......00 50...500.643 (1...000..M......231) 9.....261.... the Holding Company and its nominees) TOTAL .571...... Aiyar & Co ................ Closing Balance ................521....... Operating profit before working capital changes Adjustments for : 7 Trade receivables ....361.......... Cash and cash equivalents Opening Balance .......091 130.... Secured by hypothecation of Plant and Mechinery) Packing Credit ......801 11..798...... Burjor D..... Cash flow from investing activities 11 Purchase of Fixed Assets ...609 18.00 277................... 8 Inventories . 10 Trade payables ........... Notes: 1 2 3 (64.342.... Cash flow from operating activities 1 Net Loss before Tax . 276.........614...001..................000....00.... - ` As at December 31...284 (17............00 As per our report of even date K............. (Previous Year 50.000 Equity Shares of ` 10 each.. TOTAL ..261.. Reddy Chief Excutive Officer Schedules forming part of the Balance Sheet SCHEDULE SHARE CAPIT APITAL SC H EDULE ......00 D.......00.........901..167 19........050 (32.....505 SCHEDULE UNSECU NSECUR LO SC H EDULE .. activities Net cash used in financing activities ....... 2010 Term Loan .... Cash and Cash Equivalents is Cash and Bank Balance as per Balance Sheet......... 2009 1............... increase (decr decrease) Net increase / (decrease) in cash and equivalen alents cash equivalents ...S...000..........................999) (1... 2010 A............00 50. From Directors ...38128 Mumbai...000...534) (18..695 124...................... SUBSCRIBED & PAID UP 5........00 55......... 2010 AUTHORISED 5.......109) 86....921) 12.........333.....230.... 14 Proceeds from Short term Borrowings ..00 89....... 2010 As at December 31........500....... Chartered Accountants Firm Registration No................952....930) 19.....00 101..668 2...... 3 Interest Expense ..798........000..........000.......00 1......733) (12... Balaji Head Finance And Company Secretary Mumbai.. 12 Sale of Assets ... the Holding Company .... (62......825) 4. 2009 69..921) (11.276 479.......00 20... 9 Other receivables ...000.............668..239.012......707 For the period ended December 31....079.................... 6 Provision for Retirement Benefits .. NS Road. Aiyar Co F or K.....000..738.1 SHAR E CAPITAL As at December 31............892 28......... Hyderabad..........787) (40...750......653..... fully paid (Previous Year 50.........691. January 31.........................473...773.........414 149...000... ISSUED. Nariman Director M.......109 20............ 2011 75th Annual Report 2010 231 ........ 2010 ` For the year ended December 31.... 4 Loss on Sale / Discarded Fixed Assets .............653.........342...............700......000. B..... 2009 25.633 (952. Cash flow from financing activities 13 Interest paid .............. January 31........000 Equity Shares of ` 10 each) 2.........571......867...............................000................Net 5 Miscellaneous Expenditure written off .......505 2...... 2011 From ACC Limited.........000 Equity Shares of ` 10 each ..........669) 6. C...........00 6.......... 100186W Aiya R aghuvir M.542) (10......137....00 ` As at December 31..019.................. (Against Hypothecation of Inventory and other current assets) TOTAL ...000..................00 50.S..202 149....514..725 (30..777 74..000........00 69....545) (31..3 U NSECU R ED LOANS All figures in brackets are outflow Previous period’s figures are regrouped / restated wherever necessary...........

...471.....914..00 41.....440.......61 10.....048..445..388.......00 SCHEDULE PRO SC H EDU LE ..00 32.00 3......00 23...500/with ACC Limited the Holding Company) ......634.419.......00 36.350................... 13....505....782..531....00 4.5 I NVENTORI ES As at December 31.........00 175................686...00 10... 2010 Sundry Creditors .20 2....8 LOANS AN D ADVANC ES (Unsecured.039.....076.. 2010 For Gratuity .198... SCHEDULE CUR LIABI LITI SC H EDU LE ..876..........225...00 149..869...00 Upto 31-12-2009 (f) 3........307..4 FIXED ASSETS TOTAL DEPRECIATION As at 31-12-2010 (e) 54... 26......... 4 Buildings . unless otherwise stated) ` As at December 31..332..723.....417..70 ` As at December 31.Subsidiary Financial Statements Schedules forming part of the Balance Sheet SCHEDULE ASSET SSETS SC H EDU LE ...00 SCHEDULE LO AND ADVANCES SC H EDU LE . 2......00 106...072.260..534........................230.......084.............00 117.....00 91.00 2.375...648.230....00 13.00 19.013..........................475.871.....56 891...503..00 Deductions/ Adjustments (h) 7... 2010 As at December 31....799.515...330....423..316... Others ....790.............00 34....670.................. For Leave Encashment ..691...00 627.40 8...036......956.................360......6 SU N DRY DEBTORS (U NSECU R ED GOOD) As at December 31.016................373.555...00 NET BLOCK As at 31-12-2010 (j) 49...707.820 from ACC Limited the Holding Company) TOTAL .... Furniture...39 162.946..264....00 294..... TOTAL ......035........00 ` As at December 31....001.. (` 1..... Considered Good........00 21.................00 39..360.00 As at December 31...358. Finished Goods ....878.......... 2010 1...426. 184.087.....00 55......154.00 479.........475..00 1.........00 403. Machinery and Plant .. 2010 Over six months .....907.. 2009 23.00 SCHEDULE INVENTORI NVENTOR SC H EDU LE ..676....929....827..833............ TOTAL ...759.864.........20 ` As at December 31..00 1.994..54 8........535..9 CUR R ENT LIABI LITI ES As at December 31..639....... 2009 Advances Recoverable in Cash or in Kind or for value to be received Considered Good Advances and Deposits (Including ` 425....364.. (b) 46........780.772................................257.....472.. 2009 4.....036..260...142.....00 40...257..00 ` GROSS BLOCK AT COST As at 31-12-2009 (a) 1..00 236.......00 181..194.. Balances With Scheduled Banks In Current Account ....701..00 37....075...........405.....00 Deductions/ Adjustments (d) 40...00 805........783...180..00 SC H EDU LE -7 CASH AN D BAN K BALANC ES SCHEDULE CA AND BAN BALANC ANK ALANCES As at December 31.00 199.......797........62 22....60 22....... 3.....350...00 7...864.990..161...803..869....... 3......432.....084...647..333.........951............00 65... Cash on Hand ......356......104..055.61 36........... 2010 Raw-Material ........00 199..00 26....674........735...............00 231...... TOTAL ...951.. TOTAL ....728....589....608....................682..522...00 721.200.......00 146. Stores and Spares ......535..707.110.183.035..... 2009 65876869.801.261.00 730.62 21.....375.24 35........ Capital Work-in-Progress and Unallocated Capital Expenditure including Capital advance .......00 FIXED ASSETS TOTAL .00 1..669..706...06 53..00 As at 31-12-2009 (k) 43. 2.. 2.....612. 2009 - SCHEDULE SUN DRY DEBTORS (UNSECU NSECUR GOOD OD) SC H EDU LE ......... Previous Year .908.......39 7.........783...39 23.............00 29.035.....609.. 2.710.00 25....547...135..00 ` As at December 31.442.388.....442.00 ` As at December 31....924.70 2............00 125..........215..682...... 2009 805... Payable to Holding Company .745.39 Upto 31-12-2010 (i) 4..388....20 20.....783.....00 33.373.....332...050....971...407.............00 162. 45........00 Additions/ Adjustments (c) 7.... TOTAL ......00 199.....373..914......00 13..674............10 PROVISIONS 232 ACC Limited ..00 For the Period ended 31-12-2010 (g) 1. Fixtures and Equipments Electric Installations ........946.....

647......... less accumulated depreciation..147.90 413. I NTEREST For the year ended December 31.000........ 2006 prescribed by the Central Government of India.10 29.....945.............00 32...... including trial production expenses net of revenue earned..00 1..... TOTAL . However...... Other Expenses {Includes Loss on sale / write off of Fixed Assets (Net)} ...988...... 257......427.........85 5......443.00 ` For the period ended December 31......864......710..257............547.........081......070...823. Closing Finished Stock ...707........758............14 11......... (ii) Depreciation Depreciation on Fixed Assets is calculated on straight line basis at the rates prescribed in Schedule XIV of the Companies Act..030............... Foreign currency monetary items are reported using the closing rate............12.....483..920....30 7. Loading.... fuel............... which is generally on dispatch of goods.140............ MANU FACTU R I NG AN D OTH ER EXPENSES For the year ended December 31...............00 1...............284..................102........622.. Non-monetary items which are carried in terms of historical cost denominated in a foreign currency are reported using the exchange rate at the date of the transaction... 2010 Term Loans ...593.36 11.... oreign currency transac ansactions F) Foreign currency transac tions Foreign currency transactions are recorded at the rates of exchange prevailing on the date of transactions....227..... 2009 6.... Stores and Spare parts Consumed ..24 23.379.056. DM IN IST SELLING AND A DM IN IST R AT IVE.....85 1......... or reported in previous financial statements. on a prorata basis...297....................00 4....255.......... Others ....844................... xpenditure construc onstruction D ) Expenditure during construction period In case of new projects expenditure incurred......158.....00 1.....399.29 8....... (II) estimates (I I) Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period end....12 189.00 75th Annual Report 2010 233 .859.... SELLI NG AND EXPENSES OT H ER EXPENSES Rent ....804..........21 37......... PAYMENTS T O AN D PRO VISIONS MENTS AND PRO EMPLO FOR EMPLO Y EES Salaries......109......215.. 32................................52 19....00 451..........00 9...........00 127....... till such time assets are ready for their intended use...............797.....708.....00 203....00 10...503.....162. materials and other items held for use in the production of inventories are not written down below cost if the finished products in which they will be incorporated are expected to be sold at or above cost..........080... (I) Basis of preparation (i) The financial statements of the Company are prepared under the historical cost convention on accrual basis of accounting and in accordance with the accounting principles generally accepted in India and in compliance with the provision of the Companies Act........00 8......... Repairs to Other Items . Power and Fuel ...........070.. except where impairment is made and revaluation is carried out...... Although these estimates are based upon management’s best knowledge of current events and actions.......240.00 12........ Bad and Doubtful Debts ..ENCOR ORE ENCOR E Schedules forming part of the Profit and Loss Account AND OT EXPENSES SCHEDULE MAN ANU CTU SC H EDULE .351.......................00 10.538.....11................... Insurance ......... Wages..867....081.............................80 14........00 143.194...........329....67 6................................... NOT ES TO ACCOUNTS ART AC OUNT NTS SIGNI FICANT AC OUNT NTI POLIC OLICI AND NOT FORMING PAR SIGN I FICANT ACCOU NTI NG POLICI ES AN D NOT ES FORMI NG PART OF TH E ACCOUNTS ENDED DECEMB EMBER FOR T H E YEAR EN DED DEC EMB ER 31..115.586.....00 4.350.......886.......724......00 17.214.....00 118. Commission on Sales .....00 161......996.... (iii) Accounting policies have been consistently applied by the Company and are consistent with those used in the previous period.243... Transportation and Other Charges ...00 35....724.....227...............456...........387....038...825..709....... Workmen and Staff Welfare Expenses . (II Significant Accoun ounting Policies (I I I) Significant Accounting Policies rec ecognition A) Revenue recognition Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.............. (ii) Financial statements are based on historical cost and are prepared on accrual basis..... actual results could differ from these estimates........... Inventories E) Inventories Raw materials.. 1956 and comply with the mandatory Accounting Standards (AS) specified in Companies (Accounting Standard) Rules.934...... 2009 NTS NOT AC OUNT Schedule .......... Exchange differences arising on the settlement of monetary items or on reporting company’s monetary items at rates different from those at which they were initially recorded during the year....................554.. prior to commencement of commercial production are capitalised..578.723..00 11....086...... Cost is determined on a weighted average basis... Process & Maint ...... 4...00 8.........00 207...388. 2010 prepar epara 1..359..457.....751.....864........66 106. are recognised as income or as expense in the year in which they arise. Dearness Allowance and Bonus Contributions / Provisions to and for Provident and Other Funds ... ixed B) Fixed assets (i) Fixed assets are stated at cost of acquisition or construction including installation cost..199...................... Sale of goods Revenue is recognized when the significant risks and rewards of ownership of the goods have passed to the buyer.....00 8.. Finished goods are valued at cost or net realizable value which ever is lower.............00 1....107...00 138...... SCHEDULE INTERES NTEREST SC H EDULE ..257.. Raw Materials Consumed ... Impairment C) Impairment An impairment loss is charged to the profit and loss account wherever the carrying amount of an asset exceeds its estimated recoverable amount.521...951..........091....798.. Repairs to Machinery ...............76 TOTAL . (IN CR DECR IN ST IN (IN C R E A SE) / DECR E A SE I N STO C K S IN T R ADE Opening Finished Stock .. attributable interest and finance cost........... Previously recognized impairment loss is further provided or reversed depending on changes in circumstances....................208..685.12 22....13.. if any.....160..13 9..00 1.44 ` For the period ended December 31.........932.. Labour Charges Packing..... stores and spares are valued at lower of cost and net realizable value... 1956.....688... Packing Materials Consumed ..........440.............53 11.296.......00 5.........00 3. 2010 NU TU EXPENSES M A NU FA C TU R I NG EXPENSES Purchase of Cement .. impairment losses and specific grants received...591.

8. Holcim Services (Asia) Limited 19. P. P. Holcim Singapore Limited 21. National Cement Factory 30.e. PRABHAKAR RAO V) K RAMANI KUMAR Vi) K SHESHAVADUTHA Vii) K. Cement. A contingent liability is disclosed.( AMRL) 12. (ii) Defined Benefit Plan The employees’ gratuity fund schemes and long term compensated absences are the defined benefit plans. 27. The company is catering only to the need of the domestic market. P T Holcim Indonesia Tbk Promoter Group Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company 24. Siam City Cement Public Company Limited 29. I) ontingencies Pro Contingencies / Provisions A provision is recognised when an enterprise has a present obligation as a result of past event. UMESWAR RAO Natur ture Rela elationship Nature of Relationship Managing Director up to 15th July 2010 CEO & Executive Director Non Executive Director up to 27th January 2010 (W/o Mr. There are no other obligations other than the contribution made by the company. Joint Venture of Fellow Subsidiary ACC Mineral Resources Ltd. Holcim Trading FZCO 22. Ltd. Deferred income taxes reflect the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. 11. Holcim Group Support Limited 20.K B S SWAMY) (Brother of Mr. Associate Company of the Holding Company w. Ltd. hence segment information as per Accounting Standard 17 is not required to be disclosed. Segment Repor eporting 2. Actuarial gain and losses are recognized immediately in the statement of Profit and Loss account as income or expense. Related Par ty Disclosure (A) Par ticulars of Holding/ Associate Companies articulars Holding/ Associate Companies Rela elated Par arty Name of the Related Par ty 1. in respect of which a reliable estimate can be made. Holcim (India) Private Limited 18. Holcim Services (South Asia) Limited Promoter Group Company of the Holding Company 25. Income taxes H) Income taxes Tax expense comprises of current and deferred tax. Holcim Ltd. Holcim Foundation 26. 01/04/2010 14. Holcim (Canada) Inc. elated Par Disclosure arty 3.Subsidiary Financial Statements Employ G) Employee benefits (i) Defined Contribution Plan Defined contribution plan consists of Government Provident Fund Scheme and Employee State Insurance scheme. it is probable that an outflow of resources embodying economic benefit will be required to settle the obligation. Siam City Concrete Co. K B S SWAMY Mr.f. Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligation at the balance sheet date.e. Holcim Bangladesh Limited 31. C M REDDY Mr. Limited 28. Fellow Subsidiary Company Fellow Subsidiary Company Relatives elativ Ke management Personnel (C) Relatives of Key management Personnel i) C. 32.2009 Holcim PTE Promoter Group Company of the Holding Company MP AMRL (Semaria) Coal Company Ltd. Deferred tax assets are recognised only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. Rela elated Par arty Name of the Related Par ty elationship Natur ture Rela Nature of Relationship MP AMRL (Bicharpur) Coal Company Ltd. ACC Limited Bulk Cement Corporation (India) Limited ACC Mineral Resources Limited (Formerly The Cement Marketing Company of India Limited) Lucky Minmat Limited ACC concrete Limited Natur ture Rela elationship Nature of Relationship Holding Company Fellow Subsidiary Company Fellow Subsidiary Company 9. Holderind Investments Limited 17.( AMRL) Joint Venture of Fellow Subsidiary ACC Mineral Resources Ltd. 7. SASHIKALA REDDY ii) Dr. K B S SWAMY) (Brother of Mr K B S SWAMY) (W/O Mr K B S SWAMY) (Father of Mr . Ambuja Cements Limited 16. Joint Venture of Fellow Subsidiary ACC Mineral Resources Ltd. K B S SWAMY) Promoter Group Entity of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company Promoter Group Company of the Holding Company 4. Deferred Tax Assets are reviewed at each Balance Sheet date. as such there is no reportable Geographical Segments. MP AMRL (Marki Barka) Coal Company Ltd. 5. Segment Reporting The Company is operating only in one significant business segment i. C M REDDY) (W/o Mr. Ltd. Holcim Environment Services 33. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. Fellow Subsidiary Company w. Holcim (Lanka) Ltd. 3. MP AMRL (Morga) Coal Company Ltd. Ambuja Cement India Private Limited Promoter Group Company 15. Current income tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. UMESWAR RAO) (S/o Mr. 6. Obligation is measured at the present value of estimated future cash flow using a discount rate that is determined by the reference to market yields at the Balance Sheet date on Government bonds. unless the possibility of an outflow of resources embodying the economic benefit is remote. Asian Concretes & Cements Pvt. Company’s liabilities towards gratuity and leave encashment are determined using the projected unit credit method which considers each period of service as giving rise to an additional unit of benefit entitlement and measures each unit separately to build up the final obligation. Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the balance sheet date. Alcon Cement Company Pvt.e. Associate Company of the Holding Company 13.f. Company’s contribution paid / payable during the year under these schemes are charged to Profit and Loss Account. SOMARAJU ABBAI National Limestone Company Pvt. (AMRL) 234 ACC Limited . 23. Holcim Vietnam Management Personnel: (B) Ke y Management Personnel: Rela elated Par arty Name of Related Par ty Mr. In situations where the company has unabsorbed depreciation or carry forward tax losses. Joint Venture of Fellow Subsidiary ACC Mineral Resources Ltd. (AMRL) 10. 2. SUDHA MADHURI iii) K KRISHNA KALYAN iv) K. April 20. all deferred tax assets are recognised only if there is virtual certainty supported by convincing evidence that they can be realised against future taxable profits.

.28 11......... 7.................) ... Deposits taken during the year Mr..........90) ` Lac For the period ended December 31...................................57 17..95 28.. Mr. 2010 Gratuity Share [EPS] 4...........00.................77 For the period ended December 31..........806 8...... (Basic and diluted earning per share are the same) Remuner emunera 5..80 41.. 2010 26............................. 6 Sale of Finished goods .........................75.... Mr. N SUMAN .89 10....... 19........73 6.............. Employee Benefit : Particulars rec ecognised statemen tement Expenses recognised in the statement of Profit Loss for Profit & Loss for the period ended December 31 2010 Current service cost ......43 For the period ended December 31.... 2010 457........ P UMESWAR RAO ......................... 2010 Discount rate ....00 Expense recognized in the statement of Profit & Loss ................. 3 Deposits repaid during the Year Mr............... 2009 (620......................... Weighted average number of Equity shares outstanding (No.......................... 0.....98 ` Lac For the period ended December 31.........02 2139................ Interest cost ..806 8... 1..........142 and Leave Encashment ` 294...............................129 2......................... K B S SWAMY ........... Mr......... Employ 6....910 65.....a....... 75th Annual Report 2010 235 .................. 10 Bank Guarantee issued by Holding Company Profit/(Loss) after taxation as per Profit and Loss account ....115 12....... Interest cost .... K B S SWAMY .............. 2. 1....................927 45.......... Expected average remaining working lives ..` 10 per share) ... C M REDDY ..... 5 Closing balance of deposit at the end of Year Mr.......... Actuarial loss / (gain) ......00 20..... Withdrawal Assumptions ....[EPS] Particulars For the year ended December 31.................96 For the period ended December 31.....00% 1...........25 % p..... Earnings per Share ...44 12.......000 ` (12.................. Current service cost ..............00 6...70 Net transfer in / (out) (first year recognition) .205 12.84.......... 9 Outstanding balance included in Current Liabilities (Net)/Current Assets ..00 117.......15) 50...... Mr...........................94......31 500..................... P UMESWAR RAO . TOTAL .00 13..... 2009 54........ ansactions rela elating referred eferr abov (F) Details of Transac tions relating to persons referred to in item (B) of above ` Lac Particulars For the year ended December 31..33 1................ 14 5.......... Mr. 2010 rec ecognised Net Asset / (Liability) recognised at in the Balance sheet as at December 31.................57 8......................................729...........58 16...................00 2.25 9..................00 transac ansactions Relatives elativ ke management Personnel: (E) Details of transac tions with Relatives of the ke y management Personnel: ` Lac Particulars For the year ended December 31..... 2010 57...ENCOR ORE ENCOR E (D) ansactions Compan ompany (D) Transac tions with Holding Company Particulars For the year ended December 31............41....14 35.......................60 80....... K B S SWAMY ....................53 11.. C M REDDY ............................... Basic earnings per Share (Weighted Average) (face value ............... 1 Remuneration Mr........ Provision for Gratuity ` 184....... Company has adopted method of actuarial valuation for the first time......75 11.... Defined benefit obligation at end of year .................. 2010 Defined benefit obligation at end of prior year ..........96 26...... N...02 3..... Investment in the Share Capital of the Company Received . 2010 3. 2009 3.......... Managerial Remuneration Managerial Remuneration ` Lac For the year ended December 31............ 3 Interest on Inter Corporate Deposit paid 4 Inter Corporate Deposits Received .. Mr....................... Unsecured loan balances out standings during the Year ...........908 are included under Salary & wages under Schedule 11 of the Financial Statement...........75 20.....263) 45.. 2010 (645........... 3..00 9..99......... P UMESWAR RAO ...59.40) 1 2 Purchase of Finished/ Unfinished goods .............................29 2515......171 Financial Period Ending December 31............... 7 Inter Corporate Deposits as at the end of the Year / Period ....00 % p................................................ C M REDDY ............26 250........................................00 Salary .... P UMESWAR RAO ....142 Financial Period ending December 31..........15 Rate of return on plan assets ...97 4 Interest Paid during the year Mr....05 1.............14 2765.... N SUMAN ....................927 (4..................A.....................00. 2009 24.............607 15.. 8 Receivable shown under debtors & Loans and Advances ...................... P UMESWAR RAO ...... 5 Reimbursement Received ...00 54....607 15................... Mr........31 ` Leave Encashment 1 2 3 4 Unsecured Loan Received during the Year Un secured Loan paid during the year ...........................142 Financial Period Ending December 31....66 0.............. Mr.........84...a................908 2...........000 (12...13) 50..............00 46. Mr............................ C M REDDY .....129 2... Salary increase rate ....... K B S SWAMY ......... 3...... Mr.................. Interest Paid during the year ... Actuarial loss/(gain) ..00 1............729 1............59....... 2009 5..................

14.. Ground Slag .710..55 MT MT 72...f... TOTAL .11 For the period ended December 31. Burjor D..15 For the Year December 31. hence the accounts have been prepared on a going concern basis. OPC .. Guarantee given by ACC Limited the holding company............... 1991.. 2009 ` Lac 4........ 2009 Quantity ` Lac - Service yment Statutor Auditors tutory 10.......721....S... (ii) GGBS ...... 11. Small and Medium Enterprises...44 78... Taxation No provision for current tax is made in view of the losses for the year....98 Lac.....173..07 ` Lac 375. TOTAL ...Subsidiary Financial Statements axa 7......15 25... Previous Year’s figures have been regrouped / restated wherever necessary to make them comparable with current year’s figures. Reddy Chief Excutive Officer D.44 1...000 Actual Production As at December 31.85 0.75 5. 2011 For and on behalf of the Board of Encore Cement and Additives (P) Ltd Nay Sunil Nay a k Chairman Reddy C...507...14 ` Lac 11.. Aiyar & Co .. 2010 73. 9. & 4 OF PART II OF SC H EDU LE VI TO T H E CO MPAN I ES ACT.55 375.51 4...55 375..61 8. This has been relied upon the auditors.45 For the period ended December 31. Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) ` 16..07 ` Lac 375... (Previous period ` 27. Stocks (B) Opening Stocks Unit For the year ended December 31... (ii) GGBS ..20 0...........55 375. 2009 1.... The Company has obtained support from ACC Limited “Holding Company” assuring continuous support to finance the operations of the Company which are being turned around after acquisition.. 2010 Quantity (i) Cement . As per our report of even date K...........87 2.....89 1.. ( C) Closing Stock Unit For the year ended December 31. For other services ....91 87.825........ 1951. actual produc tion and opening and closing capacity. Therefore the Company has become a 100% subsidiary Company w........47 13.000 200.55 MT MT 16..... 2010 ` Lac 51.... TOTAL ....... Medium Enterprises Development Act. issued under the Industrial Development and Regulation Act.. 2009 - Audit Fees ....55 For the year ended December 31.000 As at December 31.. 2010 Quantity (i) Cement .........S...13 2..010 32.. Pa yment to Statutor y Auditors (Including Ser vice Tax): (E) Licensed and installed capacity....... There is no Micro.....44 1. Contingent Liabilities not provided for Indemnity......... 477(E) dated July 25.. 15. ADDITIONAL I N FORMATION PU R SUANT TO T H E PROVISIONS OF PARAGRAPH 3 PAR II ART SCH EDULE COMPAN ANI ACT CT.....36 100 Indigenous .10 38.. ADDITIONAL IN FORMA PURSUANT PRO PAR GRAPH ARA 12.... components and spare parts consumed: par ts consumed: Raw Materials Component & Raw Materials Spare parts For the Year December 31. the same has not been recognized in the financial statements.... Other Expenses includes payment to Statutory Auditors as given below: ` Lac Particulars For the year ended December 31.. 2010 ` Lac Imported .. the company has deferred tax assets.361....... 2009 Quantity ` Lac 43..50 1.. The company is in the business of manufacturing GGBS and PSC Cement * Licensed capacity per annum not indicated due to the abolition of Industrial Licensed as per No....... Nariman Director M.... January 31..324. In view of carried forward losses.....15 43........... The Company has accumulated losses as at 31st December 2010... 2011 236 ACC Limited ..03 ` Lac 1.....46 For the period ended December 31.02 % 100 100 For the period December 31. ACC Limited has purchased 50 Lakhs shares (entire Paid up capital) of the Company from the original promoters. 2006 to whom the company owes dues on account of principle amount together with interest and accordingly no additional disclosures have been made..50 Lac)..... 2010 Quantity Gypsum .38128 Mumbai........... Aiya r Partner Membership No..... TOTAL .07 ` Lac 375..e.......10 0.. Small and Medium Enterprises have been determined to the extent such parties have been identified on the basis of information available with the company.....277........ Slag .89 % 100 100 Component & Spare parts For the period December 31. 2009 ` Lac 1.........55 For the period ended December 31. Tax Accounts Audit Fees ......680 As at December 31.. 2010 3...89 Lac (Previous period Nil). as a matter of prudence and in view of the absence of virtual certainty of future taxable income.............. Small .. 1..00 40.M....361..02 51. Aiyar Co F or K. MT MT MT 814......08 (D) raw materials consumed (D) Details of raw materials consumed Unit For the year ended December 31.....20 85.....361. omponents spare (F) Value of Impor ted and indigenous Raw materials.51 % 100 100 11. ontingen tingent pro for 8........ and the Net worth is negative..... 2009 200..........408........ actual produc oduction Stocks Stocks *Installed/Rated Capacity per annum (As certified by the Management) As at December 31. MT MT 38. Chartered Accountants Firm Registration No... MT MT 400.. 1956 (A) Sales by class of goods Unit For the year ended December 31.. Imported Raw materials componen terials. 28th January 2010... 2010 PSC Cement . (iii) Slags Rejects . (ii) GGBS ...... Balaji Head Finance And Company Secretary Mumbai.........07 312. However. 2009 Quantity 16.91 % 0.. The above information regarding Micro........ 2009 Quantity 16. January 31.......570 ` Lac 2.. as defined in the Micro.64 99. 100186W Aiya R aghuvir M....00 7.. 2010 Quantity (i) Cement ..069....... Guarantees given to Rastriya Ispat Nigam Ltd was given amounting ` 35.......... Pursuant to the share purchase agreement dated 28th January 2010....

ENCOR ORE ENCOR E
Additional Information pursuant to part IV of Schedule VI to the Companies Act, 1956.
Abstrac act Company’s General ompany’ Profile Balance Sheet Abstract and Company’s General Business Profile I. egistra Registration Details Registration No. Balance Sheet I I. U74140AP2006PT U74140AP2006PTC048814 3 1 1 2 2 0 1 0 Rights Issue N I L Private Placement N I L ESOS N I L Mobilisation eploymen yment Funds I I I. Position of Mobilisation and Deployment of Funds (Amount in ` Thousands) Total Liabilities 3 8 2 2 1 3 Sources Funds Sources of Funds Paid-up Capital 5 0 0 0 0 Secured Loans N I L Deferred Tax Liabilities N I L Application Funds Application of Funds Net Fixed Assets 1 8 5 0 9 2 Net Current Assets 8 6 2 9 Accumulated Losses 1 3 4 2 1 6 IV. erf Compan ompany IV. Performance of Company (Amount in ` Thousands) Turnover 2 2 4 2 3 9 Profit (Loss efor oss) ore Profit / (Loss) Before Tax 6 4 5 1 5 Earning per share (in `) ( 1 2 . 9 0 ) V. three Produc oducts Compan ompany Generic name of three Principal Products of the Company (as per monetary terms) Item Code No. (ITC Code) Product Description 2 5 2 3 0 0 C E M E N T Expenditure 2 8 8 7 5 4 Profit (Loss oss) Profit / (Loss) After Tax 6 4 5 1 5 Dividend Rate % N I L Misc. Expenditure N I L Investments N I L Unsecured Loans 2 7 7 9 3 7 Total Assets 3 8 2 2 1 3 Reserves & Surplus N I L N I L State Code 1 1

raised year Capital raised during the year (Amount in ` Thousands) Public Issue N I L Bonus Issue

75th Annual Report 2010

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Chaibasa (Jharkhand) 4. Andaman. (Rajasthan) Encore Cement & Additives Pvt. Kymore (MP) 11. 24.in) . RMX Plants ACC Mineral Resources Limited (Maharashtra) Bulk Cement Corporation (India) Limited (Maharashtra) Lucky Minmat Limited (Rajasthan) National Limestone Company Pvt. Thondebhavi (Karnataka) 15. Damodhar (West Bengal) 6. Chanda (Maharashtra) 5. Eastern Region (Kolkata) 19.in) Printed at Infomedia18 Limited (ho@infomedia18. Sindri (Jharkhand) 14. Gagal II (HP) 8. It is illustrative and not drawn to scale. This map is as of February 3. TECHPORT (formerly Technical Support Services) Thane (Maharashtra) Training Centres ACC Academy. Thane ACC Cement Technology Institute. Jamul Sumant Moolgaokar Technical Institute. Lakheri (Rajasthan) 12. Bargarh (Orissa) 3. 26. 27. Kymore ACC School for Technical Skill Development. Nicobar and Lakshadweep islands are not shown. Jamul (Chhattisgarh) 9. (Andhra Pradesh) N. Wadi I (Karnataka) 17. Report designed by Atherstone Investor Communications Limited (info@aicl. Gagal I (HP) 7. 2011. Mumbai (Maharashtra) Cement Plants 2. Madukkarai (TN) 13. Wadi II (Karnataka) Kerala 14 Tamil Nadu 12 Sales Unit ACC Help Centres Subsidiary Companies 22. Wadi 20 Karnataka 16 17 9 Corporate Office 1. Ltd. 25.B. Kudithini (Karnataka) 10. ACC Concrete Limited (Maharastra) 23. Northern Region (New Delhi) 20. Tikaria (UP) 16.A Nationwide Reach Himachal Pradesh Punjab 6 7 Uttaranchal 19 25 Haryana 15 Uttar Pradesh Rajasthan 26 11 10 Bihar Jharkhand Gujarat Madhya Pradesh Chhattisgarh West Bengal 13 5 18 3 1 21 Maharashtra Orissa 2 8 22 23 24 Goa 4 Andhra Pradesh 27 Regional Offices 18. South & West Region (Pune) 21. Ltd.

Mumbai . India.ACC Limited Cement House 121.com Cement House. www. Maharshi Karve Road Mumbai 400 020.acclimited.

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