Professional Documents
Culture Documents
REGISTERED OFFICE
14 K.M. Stone, Aurangabad-Paithan Road,
Village: Chittegaon, Taluka: Paithan,
Dist.: Aurangabad 431 105 (Maharashtra)
Venugopal N. Dhoot
S. Padmanabhan
Independent Director
Independent Director
Independent Director
MANUFACTURING FACILITIES
Anil G. Joshi
Independent Director
B. Ravindranath
AUDITORS
KHANDELWAL JAIN & CO.
Chartered Accountants
12-B, Baldota Bhavan,
117, Maharshi Karve Road,
Opp. Churchgate Railway Station,
Mumbai 400 020
KADAM & CO.
Chartered Accountants
Vedant, 8/9, Viraj Estate,
Opp. Tarakpur Bus Stand,
Ahmednagar- 414 003
COMPANY SECRETARY
Vinod Kumar Bohra
9LJ\DQ1DJDU,QGXVWULDO$UHD2SS5,,&22IFH
Shahjahanpur, Dist.: Alwar - 301 706 (Rajasthan)
BANKERS
Allahabad Bank
Andhra Bank
Bank of Baroda
Bank of India
Bank of Maharashtra
Canara Bank
Central Bank of India
Corporation Bank
Dena Bank
ICICI Bank Limited
IDBI Bank Limited
IFCI Limited
Indian Bank
Indian Overseas Bank
LIC of India
Punjab National Bank
State Bank of Bikaner & Jaipur
State Bank of Hyderabad
State Bank of India
State Bank of Mysore
State Bank of Patiala
State Bank of Travancore
Syndicate Bank
The Federal Bank Limited
UCO Bank
Union Bank of India
United Bank of India
Vijaya Bank
CONTENTS
Notice .....................................................................................................................................................
Directors Report.....................................................................................................................................
Corporate Governance Report ..............................................................................................................
Management Discussion and Analysis Report .......................................................................................
Auditors Report .....................................................................................................................................
Balance Sheet ........................................................................................................................................
6WDWHPHQWRI3URWDQG/RVV .................................................................................................................
Cash Flow Statement ............................................................................................................................
Notes forming part of the Financial Statements .....................................................................................
Consolidated Financial Statements ........................................................................................................
Financial Information of Subsidiary Companies ....................................................................................
1
5
14
26
31
34
35
36
37
53
77
NOTICE
NOTICE is hereby given that the Twenty-Fourth Annual General
Meeting of the Members of VIDEOCON INDUSTRIES LIMITED
(the Company) will be held on Saturday, 28th December, 2013
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Aurangabad - Paithan Road, Village: Chittegaon, Taluka: Paithan,
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the following business:
ORDINARY BUSINESS
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retires by rotation and, being eligible, offers himself for reDSSRLQWPHQW
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the following resolution as a Special Resolution:
RESOLVED THAT pursuant to the provisions of Section
81(1A) and other applicable provisions, if any, of the Companies
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Issue of Foreign Currency Convertible Bonds and Ordinary
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(RBI) and other applicable laws, listing agreements entered
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shares of the Company are listed, Articles of Association
and subject to all other statutory and regulatory approvals,
consents, permissions and/or sanctions of the Government of
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of India (SEBI) and all other concerned authorities (hereinafter
singly or collectively referred to as the Appropriate Authorities)
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Authorities while granting any such approval, consent,
permission and/or sanction and agreed to by the Board of
Directors of the Company (herein after called the Board, which
term shall be deemed to include any committee(s) constituted/
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Place: Mumbai
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statement setting out the material facts concerning special
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Directors of the Company, are liable to retire by rotation at
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area; names of the other public limited companies in which
they hold directorship and membership/chairmanship of
the Committees of the Board of Directors and particulars
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the Meeting, entry to the place of Meeting will be regulated
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holder who is higher in the order of names shall be entitled to
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declared at the Meeting, will be paid on or around Thursday,
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physical form and whose names appear in the Companys
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regards shares held in the electronic form, the dividend will be
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Investor Education and Protection Fund (IEPF) established by
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or IEPF in respect of any amounts which were unclaimed and
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became due for payment and no payment shall be made in
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By order of the Board of Directors of
VIDEOCON INDUSTRIES LIMITED
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folios, in identical names or joint accounts in the same order
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any manner whatsoever to persons other than those mentioned in
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on Public Offering (FPO), Global Depository Receipts (GDRs),
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or security [including Debentures or Bonds or FCCBs] being either
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of a Public Company proposing to increase its subscribed capital
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Director of Indian Bank and retired as the Chairman
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In the past, he has held various prominent positions
with Government Authorities inter-alia including
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projects, Nuclear Power Stations, Purchase,
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Apart from the above, he has been in this industry
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DIRECTORS REPORT
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gas sector in pursuance to its corporate objective and strategy to
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wholly owned subsidiaries and/or joint ventures during the period
under review have further added to the hydrocarbon resources
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Dear Shareholders,
Your Directors take pleasure in presenting the Twenty-Fourth
Annual Report together with the Audited Accounts and Auditors
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PERFORMANCE REVIEW
The performance of the Company, on standalone basis, for the
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BRAZIL
During the period under review, Petroleo Brasileiro SA, the Operator
for Sergipe, Espirito Santos and Potiguar concessions, announced
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joint venture of the Company, through its wholly owned subsidiary
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(` in Million)
Period Ended
30th June, 2013
(18 months)
181,572.75
4,182.66
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34,246.52
Finance Costs
27,148.18
8,243.50
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(428.84)
(716.32)
Particulars
Net Revenue from Operations
Other Income
Total Income
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months as against 12 months in the previous year and hence, are
not comparable
OPERATIONS
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The period was a very tough period marked by challenges in both
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performance of the Company was affected due to economic
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in ultra deep waters of the Sergipe-Alagoas basin offshore was
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During the period under review, the wholly owned Mauritius based
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the Company for the period do not include any revenue in respect
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During the period under review, Anadarko Petroleum Corporation,
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per day (MMcf/d), with minimal pressure drawdown, providing
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effect from 16th February, 2013 which are valid for a period of 20
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of India has, inter-alia, held that the successful applicants in the
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INFORMATION TECHNOLOGY
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BOARD OF DIRECTORS
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prosecution notices and penalty notices, if any and
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Company, or substantial non-payment for goods sold by
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and Industrial Relations;
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the steps taken by the management to limit the risks of
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payment of dividend, delay in share transfer etc;
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Name of the Director
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The following are the terms of reference and scope of the Audit
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The Committee comprises of Independent Directors who are
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by the internal auditors into matters where there is a
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ceased to be a member of Shareholders/ Investors Grievance
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important role in acting as a link between the management
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Transposition of shares;
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was as under:
Name
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Agarwal
Designation
Chairman
Member
Member
Category
Independent
Independent
Independent
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(considering 3 complaints of previous year which were interim
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package of key management personnel;
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Designation
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Name
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1
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Fees (Rs.)
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The said Committee was formed to re-organize and
segregate various business segments of the Company with
a view to ensure greater focus to the operation of each of its
diverse businesses, enhanced value for shareholders and
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said Committee have the powers to engage and appoint legal,
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the above said matter and do all such acts, deeds and things,
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MEANS OF COMMUNICATION
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The Committee is entrusted with various powers from time
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Meetings Attended
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The details of the last three Annual General Meetings (AGMs) of the
Company are as under:
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Name
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Designation
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19
Date
Location
Time
Special
Resolution
Passed
21st
30th
.06WRQH
March, $XUDQJDEDG3DLWKDQ5RDG
2010
Village: Chittegaon,
Taluka: Paithan, District:
$XUDQJDEDG
Noon
1,/
22nd
WK
-XQH
2011
.06WRQH
$XUDQJDEDG3DLWKDQ5RDG
Village: Chittegaon, Taluka:
Paithan, District:
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Noon
1 (One)
23rd
WK
-XQH
2012
.06WRQH
$XUDQJDEDG3DLWKDQ5RDG
Village: Chittegaon, Taluka:
Paithan, District:
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Noon
1,/
Nature of
Resolution
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Section 372A
Special
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Authorised the Board of Directors to sell, lease, mortgage, or otherwise dispose off
the whole or substantially the whole of undertaking of the Company upto an amount
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Institutional Placement basis, American Depository Receipts (ADRs), Global
Depository Receipts (GDRs), Foreign Currency Convertible Bonds (FCCBs) or any
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Section 81(1A)
Special
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Ballot Form and self-addressed envelope, postage paid by the Company were dispatched to all the shareholders of the Company and all other
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VOTING PATTERN
1
4
% of
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to Total
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Total No.
% of Shares Total No.
% of
of Votes
to Total No
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of Valid
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Shares
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Resolution
Polled
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Shares
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PBF/EVoting
10
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and
Abstain
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No. of
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Item
No.
Particulars
3,387
2,630,163
3,387
3,387
2,631,386
3,387
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DISCLOSURES
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the Company of material nature with WKH$QQXDO5HSRUW
its promoters, directors/management,
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group of the Company due to an understanding that the computation of promoter holding is with reference to
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The Twenty-Fourth Annual General Meeting of the Company
will be held as per the following schedule:
Day
Date
Time
Venue
Saturday
28th December, 2013
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Annual General
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DATE OF BO2.&/2685(
The date of Book Closure for the purpose of Annual General
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For VIDEOCON INDUSTRIES LIMITED
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CMD/CFO CERTIFICATION
To,
The Board of Directors,
VIDEOCON INDUSTRIES LIMITED
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certify to the Board that:
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CAUTIONARY STATEMENT
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30
AUDITORS REPORT
To,
The Members of
VIDEOCON INDUSTRIES LIMITED
1.
We have audited the attached Balance Sheet of VIDEOCON INDUSTRIES LIMITED (the Company), DVDWWK-XQH6WDWHPHQWRI3URWDQG/RVV
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2.
We conducted our audit in accordance with the Auditing Standards generally accepted in India. Those standards require that we plan and perform the
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EDVLVHYLGHQFHVXSSRUWLQJWKHDPRXQWVDQGGLVFORVXUHVLQQDQFLDOVWDWHPHQWV$QDXGLWDOVRLQFOXGHVDVVHVVLQJWKHDFFRXQWLQJSULQFLSOHVXVHGDQG
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reasonable basis for our opinion.
3.
As required by the Companies (Auditors Report) Order, 2003, issued by the Central Government of India in terms of Section 227(4A) of the Companies
Act, 1956, on the basis of such checks as considered appropriate and according to the information and explanations given to us during the course of the
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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 purpose 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 those books.
Proper returns adequate for the purpose of our audit have been received from branches not visited by us. The branch Auditors Reports have been
forwarded to us and have been appropriately dealt with;
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and with the audited returns from the foreign branches;
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Standards referred to in Section 211(3C) of the Companies Act, 1956 (which continue to be applicable in respect of Section 133 of the Companies
Act, 2013, in terms of General Circular 15/2013 dated 13th September, 2013, of the Ministry of Corporate Affairs);
e)
On the basis of written representations received from the directors as on 30th June, 2013 and taken on record by the Board of Directors, we report
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Act, 1956;
f)
$VPHQWLRQHGLQ1RWH1RWRWKHQDQFLDOVWDWHPHQWVWKH&RPSDQ\KDVGLUHFWO\DQGWKURXJKLWVVXEVLGLDULHVPDGHLQYHVWPHQWVRI` 49,337.50
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WKH'HSDUWPHQWRI7HOHFRPPXQLFDWLRQV'R7WRSURYLGH8QLHG$FFHVV6HUYLFH8$6LQFLUFOHVLQ,QGLDZHIWK-DQXDU\ZKLFKZHUH
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97/KDVEHHQFRQWLQXRXVO\LQFXUULQJORVVHVDQGKDVKXJHDFFXPXODWHGORVVHVDVDWWK-XQH7KHDELOLW\RI97/WRFRQWLQXHDVDJRLQJ
FRQFHUQLVVXEVWDQWLDOO\GHSHQGHQWRQLWVDELOLW\WRIXQGLWVRSHUDWLQJDQGFDSLWDOIXQGLQJUHTXLUHPHQWV97/LVFRQGHQWRIPRELOL]LQJWKHQHFHVVDU\
UHVRXUFHVIRUFRQWLQXLQJLWVRSHUDWLRQVDVSHUWKHEXVLQHVVSODQ
+RZHYHULQYLHZRIWKHDFFXPXODWHGORVVHVRI97/ZHDUHXQDEOHWRH[SUHVVDQRSLQLRQRQWKHH[WHQWRIUHDOLVDELOLW\RIDIRUHVDLGLQYHVWPHQWVLQ
DQGDGYDQFHVWR97/7KHFRQVHTXHQWLDOHIIHFWRIWKHDERYHRQDVVHWVDQGOLDELOLWLHVDVDWWK-XQHDQGWKHORVVIRUWKHSHULRGHQGHGRQ
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in the operations of the joint ventures based on the statements received from the respective Operator. The Company has received the audited
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respect of Ravva Oil & Gas Field Joint Venture on which we have placed reliance.
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LQ SDUDJUDSK I DERYH WKH LPSDFW RI ZKLFK RQ WKH QDQFLDO VWDWHPHQWV RI WKH &RPSDQ\ LI DQ\ LV XQDVFHUWDLQDEOH and read together with the
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a true and fair view in conformity with the accounting principles generally accepted in India:
(i)
In the case of the Balance Sheet, of the state of affairs of the Company as at 30th June, 2013;
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For KHANDELWAL JAIN & CO.
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(Firm Registration No. 105049W)
SHIVRATAN AGARWAL
3DUWQHU
Membership No.:104180
U. S. KADAM
3DUWQHU
Membership No.:31055
Place : Mumbai
Date : 29th November, 2013
31
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E
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(ii)
(a)
As per the information and explanations given to us, the inventories (excluding stock of crude oil lying at extraction site with the Operator) have
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(c)
The Company is maintaining proper records of inventory. As per the information and explanations given to us, the discrepancies noticed on physical
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account.
(iii)
(a)
As per the information and explanations given to us, the Company has not granted or taken any loans, secured or unsecured, to/from companies,
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E
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PDLQWDLQHGXQGHU6HFWLRQRIWKH&RPSDQLHV$FWVXEFODXVHVEFGIDQGJRI&ODXVHLLLRISDUDJUDSKRIWKH2UGHUDUHQRW
applicable.
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course of our audit, we have not observed any continuing failure to correct the major weakness in the internal control systems.
(v)
(vi)
(a)
Based on the audit procedures applied by us and according to the information and explanations provided by the management, we are of the opinion
that the particulars of contracts or arrangements referred to in Section 301 of the Companies Act, 1956, have been entered in the register required
to be maintained under that Section.
(b)
In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements
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party during the period, have been made at prices which are reasonable having regard to prevailing market price at the relevant time.
The Company has not accepted any deposits from the public within the meaning of the provisions of Section 58A and 58AA or any other relevant provision
of the Companies Act, 1956 and rules framed there under.
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(viii) The Central Government has prescribed maintenance of the cost records under Section 209(1)(d) of the Companies Act, 1956, in respect of the
Companys products. As per the information and explanations provided to us, we are of the opinion that SULPDIDFLH, the prescribed records have been
made and maintained. We have however not made a detailed examination of the records with a view to determine whether they are accurate or complete.
(ix)
(a)
According to the information and explanations given to us and the records examined by us, the Company is regular in depositing with appropriate
authorities undisputed statutory dues including Provident Fund, Employees State Insurance, Investor Education and Protection Fund, Income tax,
Sales tax, Wealth tax, Service tax, Custom duty, Excise duty, Cess and other statutory dues wherever applicable. According to the information and
explanations given to us, no undisputed arrears of statutory dues were outstanding as at 30th June, 2013, for a period of more than six months from
the date they became payable.
(b)
According to the records of the Company examined by us and information and explanations given to us, the particulars of dues of Sales tax, Income
tax, Wealth tax, Service tax, Custom duty, Excise duty, Cess which have not been deposited on account of any disputes, are given below:
Name of the Statute
1. Customs Act, 1962
Nature of Dues
Custom Duty and Penalties
2.
3.
32
` in Million
315.31
15.15
50.24
4.37
72.46
15.49
18.28
7.75
1.11
27.81
449.34
3.61
0.96
338.93
25.50
0.85
110.46
24.68
0.52
14.09
1.94
4.18
0.11
Name of Statute
4.
` in Million
Nature of Dues
Sales Tax
18.98 Tribunal
10.30 Commissioner
100.44 Sr. Joint Commissioner
154.68 Joint Commissioner Sales Tax (Appeals)
18.58 Joint Commissioner Commercial Tax
0.72 Joint Commissioner
17.13 Joint Commissioner (Appeals)
0.24 Addl. E&T Commissioner
4.19 Deputy Commissioner (Appeals)
0.68 Deputy Commissioner
389.09 Addl. Commissioner
1.50 Addl. Commissioner (Appeals)
9.53 Deputy Commissioner of Commercial Tax
15.05 Asst. Commissioner (Appeals)
11.34 Asst. Commissioner of Commercial Tax
0.27 $VVW&RPPHUFLDO7D[DWLRQ2IFHU
0.39 6DOHV7D[2IFHU&RPPHUFLDO7D[DWLRQ2IFHU
5.
Income Tax
6.
Cess
(x)
There are no accumulated losses as at 30th June, 2013. The Company has not incurred any cash losses during the period covered by our audit and the
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(xi)
Based on our audit procedures and the information and explanations given to us, we observed that, the Company has defaulted in repayment of loans
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Particulars
` in Million
Delay in Days
Principal Repayment
20,731.85
1 to 89 Days
Interest
19,515.97
1 to 89 Days
(xii) Based on our examination of the records and the information and explanations given to us, the Company has not granted any loans and/or advances on
the basis of security by way of pledge of shares, debentures and other securities.
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applicable to the Company.
(xiv) The Company has maintained proper records of transactions and contracts in respect of dealing and trading in shares, securities, debentures and other
investments and timely entries have generally been made therein. All shares, debentures and other securities have been held by the Company in its own
name except to the extent of the exemption granted under Section 49 of the Companies Act, 1956.
(xv) According to the information and explanations given to us, the terms and conditions of guarantees given by the Company for loans taken by others from
EDQNVRUQDQFLDOLQVWLWXWLRQVDUHSULPDIDFLHnot prejudicial to the interest of the Company.
(xvi) According to the information and explanations given to us, the term loans raised during the period were applied, on an overall basis, for the purposes for
which the loans were obtained.
(xvii) According to the information and explanations given to us and on our overall examination of the Balance Sheet of the Company, we report that the
Company has not used funds raised on short term basis for long term investments.
(xviii) The Company has not made any preferential allotment of shares during the period to parties and companies covered in the register maintained under
Section 301 of the Companies Act, 1956.
(xix) The Company has not issued any secured debentures during the period.
(xx) During the period, the Company has not raised any money by way of public issue.
(xxi) According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the period.
SHIVRATAN AGARWAL
3DUWQHU
Membership No.:104180
U. S. KADAM
3DUWQHU
Membership No.:31055
Place : Mumbai
Date : 29th November, 2013
33
Particulars
I.
Note No.
2
3
3,340.94
97,839.04
101,179.98
3,339.36
96,190.40
99,529.76
2)
Non-Current Liabilities
D /RQJ7HUP%RUURZLQJV
E 'HIHUUHG7D[/LDELOLW\1HW
F /RQJ7HUP3URYLVLRQV
4
5
6
161,449.86
7,076.96
1,473.89
170,000.71
60,816.22
7,351.21
1,274.62
69,442.05
3)
Current Liabilities
a) Short Term Borrowings
b) Trade Payables
F 2WKHU&XUUHQW/LDELOLWLHV
d) Short Term Provisions
7
8
9
10
57,527.27
11,412.84
28,223.93
946.85
98,110.89
369,291.58
77,567.71
11,726.55
60,418.00
873.92
150,586.18
319,557.99
58,825.01
458.16
6,674.55
49,327.79
74,741.53
190,027.04
55,030.45
820.11
7,165.07
47,228.99
55,088.18
165,332.80
41.63
21,578.97
28,327.00
4,858.26
123,663.13
795.55
179,264.54
369,291.58
208.11
20,807.09
27,504.42
5,045.46
99,761.49
898.62
154,225.19
319,557.99
II.
ASSETS
1) Non-Current Assets
a) Fixed Assets
i)
Tangible Assets
ii) Intangible Assets
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E 1RQ&XUUHQW,QYHVWPHQWV
F /RQJ7HUP/RDQVDQG$GYDQFHV
TOTAL
2)
As at
31st Dec., 2011
As at
30th June, 2013
11
12
13
Current Assets
a) Current Investments
b) Inventories
c) Trade Receivables
d) Cash and Bank Balances
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f)
Other Current Assets
14
15
16
17
18
19
TOTAL
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Notes forming part of the Financial Statements
1
2 to 47
SHIVRATAN AGARWAL
3DUWQHU
Membership No. 104180
U. S. KADAM
3DUWQHU
Membership No. 31055
V. N. DHOOT
&KDLUPDQDQG0DQDJLQJ'LUHFWRU
Place : Mumbai
Date : 29th November, 2013
34
S. PADMANABHAN
'LUHFWRU
STATEMENT OF PROFIT AND LOSS FOR THE PERIOD 1ST JANUARY, 2012 TO 30TH JUNE, 2013
(` in Million)
Particulars
I.
Note No.
Year ended
31st Dec., 2011
187,753.84
129,194.70
6,181.09
2,692.48
181,572.75
126,502.22
4,182.66
1,063.12
185,755.41
127,565.34
INCOME
Revenue from Operations
20
/HVV([FLVH'XW\
Net Revenue from Operations
Other Income
21
Total Income
II.
Period ended
30th June, 2013
EXPENSES
Cost of Materials Consumed
22
56,643.70
40,562.96
3XUFKDVHRI6WRFNLQ7UDGH
23
59,133.82
38,501.83
&KDQJHVLQ,QYHQWRULHVRI)LQLVKHG*RRGV:RUNLQ
3URFHVVDQG6WRFNLQ7UDGH
24
(577.32)
(140.41)
3URGXFWLRQDQG([SORUDWLRQ([SHQVHV2LODQG*DV
25
12,668.34
9,007.76
(PSOR\HH%HQHWV([SHQVH
26
3,979.94
2,253.46
Finance Costs
27
27,148.18
9,777.89
11
8,243.50
6,075.64
Other Expenses
28
19,660.41
13,792.49
186,900.57
119,831.62
(1,145.16)
7,733.72
1,296.54
Deferred Tax
(274.25)
981.60
(154.59)
56.47
(716.32)
5,399.11
(2.38)
17.73
Total Expenses
III. 3URW/RVV%HIRUH7D[
IV. Tax Expenses
Current Tax
V.
29
2 to 47
SHIVRATAN AGARWAL
3DUWQHU
Membership No. 104180
U. S. KADAM
3DUWQHU
Membership No. 31055
V. N. DHOOT
&KDLUPDQDQG0DQDJLQJ'LUHFWRU
Place : Mumbai
Date : 29th November, 2013
35
S. PADMANABHAN
'LUHFWRU
CASH FLOW STATEMENT FOR THE PERIOD ENDED ON 30TH JUNE, 2013
Period ended on
30th June, 2013
(` in Million)
Year ended on
31st Dec., 2011
(1,145.16)
7,733.72
8,243.50
27,148.18
21.09
64.64
10.38
135.65
91.27
(491.40)
(1.73)
(43.82)
(637.11)
33,395.49
6,075.64
9,777.89
(6.36)
15.30
(2.73)
187.97
40.74
(487.06)
180.82
(279.70)
(178.94)
23,057.29
(A)
(771.88)
(913.85)
(43,420.99)
103.07
(313.71)
5,107.96
(6,813.91)
(20.59)
(6,793.32)
(405.71)
(1,071.86)
(87,305.99)
(343.38)
5,252.42
10,553.78
(50,263.45)
1,334.33
(51,597.78)
(B)
1,083.29
(11,631.77)
491.40
306.17
4,127.85
(6,058.44)
43.82
(11,637.68)
1,282.14
(12,284.38)
487.06
5,288.36
(3,842.66)
(1,095.63)
279.70
(9,885.41)
157.53
(155.95)
2,642.80
63,349.70
(20,040.44)
(27,148.18)
(211.25)
(31.33)
(12.91)
18,549.97
118.97
1,150.82
1,269.79
3,588.47
4,858.26
10.63
(150.84)
243.88
26,894.13
42,975.04
(1,133.67)
(9,777.89)
(350.55)
(57.81)
(0.25)
58,652.67
(2,830.52)
3,981.34
1,150.82
3,894.64
5,045.46
Particulars
A.
B.
C.
(C)
(A+B+C)
SHIVRATAN AGARWAL
3DUWQHU
Membership No. 104180
U. S. KADAM
3DUWQHU
Membership No. 31055
V. N. DHOOT
&KDLUPDQDQG0DQDJLQJ'LUHFWRU
VINOD KUMAR BOHRA
&RPSDQ\6HFUHWDU\
Place : Mumbai
Date : 29th November, 2013
36
S. PADMANABHAN
'LUHFWRU
A)
Basis of Accounting
D
b)
Use of Estimates
G)
%
)L[HG$VVHWV&DSLWDO:RUNLQ3URJUHVV
D
b)
C)
E)
Impairment of Assets
The Fixed Assets or a group of assets (cash generating unit) and
Producing Properties are reviewed for impairment at each Balance
Sheet date. In case of any such indication, the recoverable amount of
these assets or group of assets is determined, and if such recoverable
amount of the asset or cash generating unit to which the asset belongs
is less than its carrying amount, the impairment loss is recognised
by writing down such assets and Producing Properties to their
recoverable amount. An impairment loss is reversed if there is change
in the recoverable amount and such loss either no longer exists or has
decreased.
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which have been stated at revalued amounts, less accumulated
depreciation/amortisation and impairment loss, if any. The cost
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cost and other incidental expenses related to the acquisition and
installation of the respective assets but does not include tax/duty
credits availed.
Capital Work in Progress is carried at cost, comprising of direct
cost, attributable interest and related incidental expenditure.
I)
Investments
a)
b)
c)
Inventories
Inventories including crude oil stocks are valued at cost or net
realisable value whichever is lower. Cost of inventories comprises all
costs of purchase, conversion and other costs incurred in bringing the
inventories to their present location and condition. Cost is determined
on Weighted Average Basis.
D)
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J)
Borrowing Costs
Borrowing costs that are directly attributable to the acquisition,
construction or production of an qualifying asset are capitalised as
part of the cost of that asset. A qualifying asset is one that necessarily
takes substantial period of time to get ready for intended use. Other
borrowing costs are recognised as an expense in the period in which
they are incurred.
K)
The Company follows the Full Cost method of accounting for its oil
and natural gas exploration and production activities. Accordingly, all
acquisition, exploration and development costs are treated as capital
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centre is not, normally, smaller than a country except where warranted
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When any well in a cost centre is ready to commence commercial
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producing properties in the gross block of assets regardless of whether
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([FLVH'XW\LQUHVSHFWRIQLVKHGJRRGVO\LQJLQWKHIDFWRU\SUHPLVHV
and Customs Duty on goods lying in customs bonded warehouse are
provided for and included in the valuation of inventory.
/
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Revenue Recognition
D
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in respect of ownership.
b)
c)
d)
Abandonment Costs
The full eventual estimated liability towards costs relating to dismantling,
abandoning and restoring well sites and allied facilities is recognised as
liability for abandonment cost based on evaluation by experts at current
costs and is capitalised as producing property. The same is reviewed
periodically.
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Schedule XIV to the Companies Act, 1956, except, a) on Fixed Assets
37
b)
c)
LLL
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the projected unit credit method with actuarial valuations as
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Taxation
Income tax comprises of current tax and deferred tax. Provision for
FXUUHQWLQFRPHWD[LVPDGHRQWKHDVVHVVDEOHLQFRPHEHQHWVDWWKH
rate applicable to relevant assessment year. Deferred tax assets and
liabilities are recognised for the future tax consequences of timing
differences, subject to the consideration of prudence. Deferred tax
assets and liabilities are measured using the tax rates enacted or
substantively enacted by the Balance Sheet date. The carrying amount
of deferred tax asset/liability are reviewed at each Balance Sheet date
and recognised and carried forward only to the extent that there is a
reasonable certainty that the asset will be realised in future.
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Premium on Redemption of Bonds/Debentures are written off to
Securities Premium Account.
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U)
a)
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b)
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FKDUJHGWR6WDWHPHQWRI3URWDQG/RVV
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$SULODUHFKDUJHGWR6WDWHPHQWRI3URWDQG/RVV
LL
$VVHWVDFTXLUHGRQRUDIWHUVW$SULOXQGHUQDQFH
lease or similar arrangements which effectively transfer
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incidental to ownership of the leased items, are capitalised
at the lower of their fair value and present value of the
minimum lease payments and are disclosed as leased
assets.
V)
Warranty
d)
3
(PSOR\HH%HQHWV
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6KRUW7HUP(PSOR\HHV%HQHWVDUHUHFRJQL]HGDVDQH[SHQVHDW
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the period/year in which the related services are rendered.
E
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Notes. Disputed demands in respect of Central Excise, Custom duty,
Income tax, Sales tax and Others are disclosed as contingent liabilities.
Payment in respect of such demands, if any, is shown as an advance,
WLOOWKHQDORXWFRPHRIWKHPDWWHU
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*UDWXLW\'HQHG%HQHW3ODQ
The Company provides for gratuity to all the eligible
HPSOR\HHV7KHEHQHWLVLQWKHIRUPRIOXPSVXPSD\PHQWV
to vested employees on retirement, on death while in
employment, or termination of employment for an amount
equivalent to 15 days salary payable for each completed
\HDURIVHUYLFH9HVWLQJRFFXUVRQFRPSOHWLRQRIYH\HDUV
RIVHUYLFH/LDELOLW\LQUHVSHFWRIJUDWXLW\LVGHWHUPLQHGXVLQJ
the projected unit credit method with actuarial valuations as
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LPPHGLDWHO\LQWKH6WDWHPHQWRI3URWDQG/RVV
X)
Y)
38
As at
30th June,
2013
(` in Million)
As at
31st Dec.,
2011
Total
5,000.00
1,000.00
6,000.00
5,000.00
1,000.00
6,000.00
(a)
3,187.72
0.08
3,187.64
3,030.22
0.11
3,030.11
150.74
301.56
2.56
7.69
153.30
3,340.94
309.25
3,339.36
SHARE CAPITAL
Authorised:
500,000,000 (Previous year 500,000,000) Equity Shares of `HDFK
10,000,000 (Previous year 10,000,000) Redeemable Preference Shares of `HDFK
Issued, Subscribed and Paid-up:
Equity Shares
318,771,669 (Previous year 303,021,669) Equity Shares of `HDFKIXOO\SDLGXS
/HVV&DOOVLQ$UUHDUVE\RWKHUV
Preference Shares
i) 4,523,990 (Previous year 4,523,990) 8% Cumulative Redeemable Preference Shares of ` 33.32
each (Previous year `HDFKIXOO\SDLGXSUHGHHPDEOHDWSDURQVW2FWREHU
ii) 76,870 (Previous year 76,870) 8% Cumulative Redeemable Preference Shares of ` 33.34 each
(Previous year `HDFKIXOO\SDLGXSUHGHHPDEOHDWSDURQVW)HEUXDU\
(b)
Total (a+b)
2.1
No. of Shares
No. of Shares
` in Million
b)
` in Million
303,021,669
3,030.22
301,963,634
15,750,000
157.50
1,058,035
3,019.64
10.58
318,771,669
3,187.72
303,021,669
3,030.22
4,523,990
301.56
4,523,990
452.40
150.82
150.84
4,523,990
150.74
4,523,990
301.56
76,870
7.69
76,870
7.69
5.13
76,870
2.56
76,870
7.69
c)
2.2
2.3
The Company has only one class of equity shares having par value of `SHU6KDUH(DFKKROGHURI(TXLW\6KDUHVLVHQWLWOHGWRHTXDOULJKW
of voting and dividend.
b)
In the event of liquidation of the Company, the holders of Equity Shares will be entitled to receive remaining assets of the Company after
distribution of all preferential amounts. The distribution will be in proportion to the number of Equity Shares held by the shareholders.
c)
The Preference Shares do not have voting rights. They have preference over equity shareholder as to dividend and in case of liquidation.
Name of Shareholders
a)
b)
c)
No. of Shares
% of Holding
% of Holding
Equity Shareholders
a)
'RPH%HOO(OHFWURQLFV,QGLD3ULYDWH/LPLWHG
19,741,049
6.19
19,067,113
6.29
b)
3ODWLQXP$SSOLDQFHV3ULYDWH/LPLWHG
15,604,666
4.90
15,604,666
5.15
c)
6KUHH'KRRW7UDGLQJ$QG$JHQFLHV/LPLWHG
28,404,836
8.91
26,015,207
8.59
d)
6\QHUJ\$SSOLDQFHV3ULYDWH/LPLWHG
16,010,575
5.02
16,010,575
5.28
e)
9LGHRFRQ5HDOW\DQG,QIUDVWUXFWXUHV/LPLWHG
63,570,518
19.94
63,566,495
20.98
/,&RI,QGLD/LPLWHG
b)
,'%,%DQN/LPLWHG
441,990
9.77
441,990
9.77
4,082,000
90.23
4,082,000
90.23
76,870
100.00
76,870
100.00
39
As at
30th June,
2013
As at
31st Dec.,
2011
(a)
9.75
9.75
9.75
9.75
(b)
688.33
155.96
844.29
537.50
150.83
688.33
(c)
43,559.42
2,642.09
12.91
46,188.60
1.59
46,187.01
43,403.87
242.85
0.25
87.05
43,559.42
2.30
43,557.12
(d)
1,053.17
1,909.34
2,962.51
3,029.64
(1,976.47)
1,053.17
(e)
16,201.48
300.00
16,501.48
15,201.48
1,000.00
16,201.48
34,680.55
(716.32)
33,964.23
28,680.29
5,399.11
1,976.47
36,055.87
155.96
1,909.34
300.00
198.77
27.68
38.48
31,334.00
97,839.04
150.83
1,000.00
159.39
33.77
31.33
34,680.55
96,190.40
b)
c)
d)
e)
f)
%RQG'HEHQWXUH5HGHPSWLRQ5HVHUYH
As per last Balance Sheet
$GG/HVV7UDQVIHUUHGIURPWR6XUSOXVLQWKH6WDWHPHQWRI3URWDQG/RVV
General Reserve
As per last Balance Sheet
$GG7UDQVIHUUHGIURP6XUSOXVLQWKH6WDWHPHQWRI3URWDQG/RVV
6XUSOXVLQWKH6WDWHPHQWRI3URWDQG/RVV
As per last Balance Sheet
$GG3URW/RVVIRUWKHSHULRG
Add: Transferred from Bond/Debenture Redemption Reserve
Balance available for Appropriations
Less: Appropriations
Transfer to Capital Redemption Reserve
Transfer to Bond/Debenture Redemption Reserve
Transfer to General Reserve
3URSRVHG'LYLGHQG(TXLW\6KDUHV
3URSRVHG'LYLGHQG3UHIHUHQFH6KDUHV
Tax on Proposed Dividend
(f)
Total (a to f)
4.
LONG-TERM BORROWINGS
a)
b)
Secured
1RQ&RQYHUWLEOH'HEHQWXUHV
7HUP/RDQV
L 5XSHH7HUP/RDQVIURP%DQNV
LL 5XSHH7HUP/RDQVIURP)LQDQFLDO,QVWLWXWLRQV
iii) External Commercial Borrowings
LY 9HKLFOH/RDQIURP%DQNV
(` in Million)
As at 31st Dec., 2011
1RQ&XUUHQW
Current
21.60
(a)
140,291.04
9,338.05
151.79
149,780.88
7,263.32
900.48
589.41
130.35
8,883.56
40,868.44
1,421.56
1,164.44
147.18
43,601.62
15,207.16
983.59
1,541.58
75.48
17,829.41
(b)
Total (a+b)
11,652.34
16.64
11,668.98
161,449.86
2,000.00
8.78
2,008.78
10,892.34
6,749.94
10,423.73
40.93
17,214.60
60,816.22
30,331.36
15.51
30,346.87
48,176.28
Unsecured
5XSHH/RDQVIURP%DQNV
Foreign Currency Convertible Bonds
Sales Tax Deferral
40
/RDQVDPRXQWLQJWR`0LOOLRQDUHVHFXUHGE\UVWSDULSDVVX charge on all present and future tangible/intangible assets (excluding the
,GHQWLHG3URSHUWLHVRIHDFKRIWKH%RUURZHUUVWSDULSDVVX charge on the Trust and Retention Accounts of the Borrowers, second SDULSDVVX charge
RQ,GHQWLHG$VVHWVRI9LGHRFRQ+\GURFDUERQ+ROGLQJV/LPLWHGV9++/VXEVLGLDULHVWKURXJKSOHGJHRIHQWLUHVKDUHKROGLQJRI9++/LQWKHVHRYHUVHDV
VXEVLGLDULHVVHFRQGFKDUJHRQSOHGJHRIVKDUHVRI9LGHRFRQ2LO9HQWXUHV/LPLWHGDQG9++/VHFRQGSDULSDVVXFKDUJHRQ9++/VVKDUHRIFDVK
RZVIURP,GHQWLHG$VVHWVDQGVHFRQGSDULSDVVXFKDUJHRYHUFXUUHQWDVVHWVRIHDFKRIWKH%RUURZHUV7KH5XSHH7HUP/RDQVDUHDOVRVHFXUHGE\
UVWUDQNLQJSOHGJHE\WKHSURPRWHUVRYHUHTXLW\VKDUHVRI9LGHRFRQ,QGXVWULHV/LPLWHG7UHQG(OHFWURQLFV/LPLWHGDQG9DOXH,QGXVWULHV/LPLWHGKHOGE\
WKHPWKHSHUVRQDOJXDUDQWHHVRI0U9HQXJRSDO1'KRRW0U3UDGLSNXPDU1'KRRW0U5DMNXPDU1'KRRWDQGUVWSDULSDVVXFKDUJHRQ9LGHRFRQ
brand. However, charge has not been created in favor of such Consortium of banks (A) for the credit facility to the Obligors on the assets by way of
SOHGJHRIVKDUHVRIWKHVXEVLGLDULHVYL]9LGHRFRQ0DXULWLXV(QHUJ\/LPLWHGDQG9LGHRFRQ0R]DPELTXH5RYXPD/LPLWHGZKLFKKDYHEHHQSOHGJHGWR
6WDQGDUG&KDUWHUHG%DQNIRUWKHORDQVDYDOLHGE\9++/%IRUDQ\RWKHUUHFHLYDEOHVIURP9LGHRFRQ0R]DPELTXH5RYXPD/LPLWHGDQG&RQDQ\
DVVHWVRI9LGHRFRQ0R]DPELTXH5RYXPD/LPLWHG$OVRUHIHU1RWH1R
LL /RDQVDPRXQWLQJWR` 2,250.00 Million is secured by subservient charge on entire movables and current assets, both present and future of the
&RPSDQ\DQGRWKHUERUURZHUVH[FHSWIRUWKHDVVHWVRI5DYYD2LO)LHOG7KHORDQVDUHIXUWKHUVHFXUHGE\VXEVHUYLHQWFKDUJHRQ9LGHRFRQ
DQG.HQVWDUEUDQGVDQGLUUHYRFDEOHDQGXQFRQGLWLRQDOSHUVRQDOJXDUDQWHHVRI0U9HQXJRSDO1'KRRWDQG0U3UDGLSNXPDU1'KRRW
LLL /RDQVDPRXQWLQJWR`0LOOLRQLVVHFXUHGE\UVWSDULSDVVXFKDUJHRYHUWKH[HGDVVHWVVLWXDWHGDW%KDUXFKDQG$XUDQJDEDGERWK
present and future.
LY /RDQV DPRXQWLQJ WR ` 9,583.33 Million are secured by Equitable Mortgage on SDULSDVVX basis on immovable property situated at Videocon
Tower, New Delhi and immovable property including land, building and machinery situated at Village Manjra, Warora, Dist. Chandrapur. The
ORDQVDUHIXUWKHUVHFXUHGE\UVWSDULSDVVX charge on book debts of consumer electronics and home appliances division which are not charged
to bankers for securing working capital loans.
Y /RDQVDPRXQWLQJWR`0LOOLRQLVVHFXUHGE\PRUWJDJHRILPPRYDEOHDVVHWVDQGUVWFKDUJHRQPRYDEOHDVVHWVFDVKRZVDQGLQWDQJLEOH
assets pertaining to the 5.75 MW Multi Crystalline Silicon Photovoltaic Technology Project at Warora.
Some of the loans are also secured by pledge of certain investments of the Company.
b)
([WHUQDO&RPPHUFLDO%RUURZLQJVDUHVHFXUHGE\DUVWUDQNLQJ SDULSDVVXFKDUJHRYHUDOOWKHSUHVHQWDQGIXWXUHPRYDEOHDQGLPPRYDEOH[HG
assets. The loan is further secured by personal guarantees of Mr. Venugopal N. Dhoot and Mr. Pradipkumar N. Dhoot.
c)
9HKLFOH/RDQVIURP%DQNVDUHVHFXUHGE\ZD\RIK\SRWKHFDWLRQRI9HKLFOHVDFTXLUHGRXWRIWKHVDLGORDQ7KHORDQVDUHDOVRVHFXUHGE\SHUVRQDO
guarantee of Mr. Venugopal N. Dhoot.
8QVHFXUHG5XSHH/RDQVIURP%DQNVDUHJXDUDQWHHGE\0U9HQXJRSDO1'KRRWDQG0U3UDGLSNXPDU1'KRRW
b)
The Company had, during the year 2010, issued 2,000 Foreign Currency Convertible Bonds of US$ 100,000 each (Bonds) due on 16th December,
2015, out of which 1,944 (Previous year 1,944) Bonds are outstanding.
i)
The Bonds are convertible at the option of the bondholders at any time on or after 25th January, 2011 to 7 days before maturity date i.e. 16th
'HFHPEHUDWD[HGH[FKDQJHUDWHRI` 45.255 per 1 US$ and at initial conversion price of ` 239.5265 per share being at premium of 3%
over reference share price. The conversion price will be subject to adjustment for, among other things, subdivision or consolidation of shares,
rights issues, capital distributions, stock dividends and other dilutive events.
ii) The Bonds are redeemable in whole but not in part at the option of the Company on or after 15th December, 2013, if the closing price of shares
for each of the 30 consecutive trading days prior to the date on which notice of such redemption is given was at least 130% of the conversion
price.
iii) The Bonds are redeemable at maturity date i.e. on 16th December, 2015, at its principal amount, if not redeemed or converted earlier.
c)
4.3
4.4
0DWXULW\3UROHRI6HFXUHG/RDQV
Rupee Loans
IURP%DQNV
Rupee Loans
from Financial
Institutions
Vehicle Loan
IURP%DQNV
)LQDQFLDO<HDU
5,461.27
584.56
84.46
)LQDQFLDO<HDU
4,340.74
169.49
58.22
)LQDQFLDO<HDU
3,437.01
268.16
9.11
)LQDQFLDO<HDU
7,844.01
430.59
)LQDQFLDO<HDU
22,539.55
1,229.75
)LQDQFLDO<HDU
34,370.11
2,186.00
)LQDQFLDO<HDU
34,425.11
2,186.00
)LQDQFLDO<HDU
26,418.31
1,931.00
)LQDQFLDO<HDU
1,454.93
337.25
)LQDQFLDO<HDU
15.25
The Company has made certain defaults in repayment of long term loans and interest. The details of continuing defaults as at 30th June, 2013, are as
follows:
(` in Million)
Particulars
Period of Delays
1 Day
2 to 31 Days
32 to 68 Days
3ULQFLSDODPRXQWRI7HUP/RDQV
656.63
416.67
2,150.00
,QWHUHVWRQ7HUP/RDQV
439.27
1,470.56
1,355.64
41
As at
30th June,
2013
As at
31st Dec.,
2011
8,190.78
8,190.78
7,875.11
7,875.11
128.21
64.02
792.87
192.74
1,113.82
7,076.96
459.88
523.90
7,351.21
145.12
91.09
Total
49.26
1,279.51
1,473.89
39.67
1,143.86
1,274.62
(a)
20,500.00
15,476.39
35,976.39
27,573.50
9,351.89
36,925.39
(b)
Total (a+b)
7,620.83
13,930.05
21,550.88
57,527.27
40,642.32
40,642.32
77,567.71
'HIHUUHG7D[/LDELOLW\
Related to Depreciation and Amortisation on Fixed Assets
(a)
b)
1HW'HIHUUHG7D[/LDELOLW\
6.
LONG-TERM PROVISIONS
Provision for Gratuity (Refer Note No. 32B)
3URYLVLRQIRU/HDYH(QFDVKPHQW5HIHU1RWH1R%
Provision for Abandonment and Site Restoration Costs
7.
SHORT-TERM BORROWINGS
Secured
/RDQIURP%DQNV
:RUNLQJ&DSLWDO/RDQVIURP%DQNV
Unsecured
/RDQIURP%DQNV
/RDQIURP2WKHUV
/RDQVDPRXQWLQJWR` 15,000.00 Million are secured by subservient charge on entire movables and current assets, both present and future
of the Company and 12 other borrowers except for the assets of Ravva Oil Field. The loans are further secured by subservient charge on
9LGHRFRQ
DQG
.HQVWDU
EUDQGVDQGLUUHYRFDEOHDQGXQFRQGLWLRQDOSHUVRQDOJXDUDQWHHVRI0U9HQXJRSDO1'KRRWDQG0U3UDGLSNXPDU1
Dhoot.
LL
/RDQVDPRXQWLQJWR` 2,500.00 Million is secured by mortgage of properties owned by the Company and owned by others. The loan is
further secured by personal guarantees of Mr. Venugopal N. Dhoot and Mr. Pradipkumar N. Dhoot.
iii)
For security of loans amounting to ` 3,000.00 Million Refer Note No. 4.1 (a) (i).
E :RUNLQJ &DSLWDO /RDQV IURP %DQNV DUH VHFXUHG E\ K\SRWKHFDWLRQ RI WKH &RPSDQ\
V VWRFN RI UDZ PDWHULDOV SDFNLQJ PDWHULDOV VWRFNLQ
SURFHVVQLVKHGJRRGVVWRUHVDQGVSDUHVERRNGHEWVRI*ODVV6KHOO'LYLVLRQRQO\DQGSHUVRQDOJXDUDQWHHVRI0U9HQXJRSDO1'KRRWDQG
Mr. Pradipkumar N. Dhoot.
7.2 Unsecured Loans
8QVHFXUHG/RDQVIURP%DQNVDUHVHFXUHGE\SHUVRQDOJXDUDQWHHVRI0U9HQXJRSDO1'KRRWDQG0U3UDGLSNXPDU1'KRRWDQGORDQVDPRXQWLQJ
to ` 5,000.00 Million are further secured by mortgage of properties owned by others situated at Ahmedabad, Aurangabad and Mumbai.
7.3 The Company has made certain defaults in repayment of short term loans and interest. The details of continuing defaults as at 30th June, 2013, are
as follows:
(` in Million)
Particulars
Period of Delays
1 Day
3ULQFLSDODPRXQWRI/RDQV
,QWHUHVWRQ/RDQV
8.
2 to 31 Days
32 to 61 Days
1,350.00
17.05
271.76
220.60
TRADE PAYABLES
As at
30th June,
2013
42
(` in Million)
As at
31st Dec.,
2011
79.93
4.61
11,332.91
11,721.94
11,412.84
11,726.55
As at
30th June,
2013
79.93
0.16
2.80
(` in Million)
As at
31st Dec.,
2011
4.61
0.21
9.
Total
As at
30th June,
2013
10,892.34
106.14
1,878.05
3,774.88
10.44
8,628.35
9.87
2,923.86
28,223.93
(` in Million)
As at
31st Dec.,
2011
48,176.28
81.43
372.43
28.53
8,278.61
81.69
3,399.03
60,418.00
Total
198.77
27.68
38.48
653.24
23.27
5.41
946.85
159.39
33.77
31.33
632.15
12.66
4.62
873.92
10.
SHORT-TERM PROVISIONS
3URSRVHG'LYLGHQG(TXLW\6KDUHV
3URSRVHG'LYLGHQG3UHIHUHQFH6KDUHV
Provision for Tax on Dividend
Provision for Warranty and Maintenance Expenses (Refer Note No. 31)
Provision for Gratuity (Refer Note No. 32B)
3URYLVLRQIRU/HDYH(QFDVKPHQW5HIHU1RWH1R%
Particulars
i)
ii)
iii)
Tangible Assets
)UHHKROG/DQG
/HDVHKROG/DQG
Building
/HDVHKROG,PSURYHPHQWV
Plant and Machinery
Furnace
Electrical Installation
Computers
Furniture and Fixtures
2IFH(TXLSPHQWV
Vehicles
Total (i)
Intangible Assets
Computer Software
Producing Properties
Total (ii)
Total (i+ii)
Previous year as at 31st Dec., 2011
&DSLWDO:RUNLQ3URJUHVV
As at
31st Dec.,
2011
*URVV%ORFN
Additions Deductions/
Adjustments
As at
30th June,
2013
'HSUHFLDWLRQ$PRUWLVDWLRQ,PSDLUPHQW
As at
For the Deductions/
As at
31st Dec.,
period Adjustments 30th June,
2011
2013
(` in Million)
1HW%ORFN
As at
As at
30th June,
31st Dec.,
2013
2011
153.54
48.05
6,666.62
39.33
91,744.53
1,576.39
158.75
243.52
211.61
330.35
1,034.36
102,207.05
4.57
4.23
11,796.98
13.98
12.85
6.39
10.91
221.96
12,071.87
1.64
24.70
1,500.19
0.37
4.28
3.63
28.06
1,562.87
156.47
48.05
6,646.15
39.33
102,041.32
1,576.39
172.73
256.00
213.72
337.63
1,228.26
112,716.05
10.97
2,247.24
39.15
42,145.82
1,538.47
102.80
229.75
148.00
205.72
508.68
47,176.60
1.17
253.00
7,363.13
22.15
10.82
5.58
10.49
15.63
149.16
7,831.13
2.87
1,090.35
0.05
0.97
0.56
21.89
1,116.69
12.14
2,497.37
39.15
48,418.60
1,560.62
113.62
235.28
157.52
220.79
635.95
53,891.04
156.47
35.91
4,148.78
0.18
53,622.72
15.77
59.11
20.72
56.20
116.84
592.31
58,825.01
153.54
37.08
4,419.38
0.18
49,598.71
37.92
55.95
13.77
63.61
124.63
525.68
55,030.45
259.21
4,809.46
5,068.67
107,275.72
99,581.10
7,165.07
12.57
37.85
50.42
12,122.29
11,489.00
1,562.87
3,794.38
271.78
4,847.31
5,119.09
117,835.14
107,275.72
6,674.55
204.33
4,044.23
4,248.56
51,425.16
48,040.70
30.67
381.70
412.37
8,243.50
6,075.64
1,116.69
2,691.18
235.00
4,425.93
4,660.93
58,551.97
51,425.16
36.78
421.38
458.16
59,283.17
55,850.56
6,674.55
54.88
765.23
820.11
55,850.56
43
7,165.07
` 10
` 10
` 10
82,000
1,408,800
1,971,973
0.11
25.41
12.52
38.04
82,000
1,408,800
1,811,748
0.25
25.41
25.18
50.84
`5
`5
`1
` 10
` 10
` 10
`4
` 10
` 10
` 10
` 10
18,000
40,000
10,000
20,848
4,800
7,600
500,000
298,557
1,300
0.36
0.13
0.04
21.66
0.03
0.05
0.84
1.08
-
18,000
40,000
10,000
10,424
221,677
4,800
7,600
501,900
41,800
298,557
1,300
0.31
0.22
0.07
16.58
28.60
0.05
0.05
4.51
0.91
1.95
` 10
` 10
` 10
`5
`2
` 10
`5
` 10
`2
` 10
`5
`2
` 10
1,567,374
253,950
7,000
300,000
1,800
1,774,153
85,000
8,700
168,731
837,629
-
9.87
1.81
2.16
28.01
0.06
6.17
7.36
0.12
0.12
97.08
176.93
1,567,374
253,950
7,000
62,953
1,800
1,853,158
85,000
3,130
8,700
178,500
998,607
3,775
11.38
2.94
2.16
1.30
0.10
21.39
11.50
0.13
0.12
0.59
61.51
0.69
167.06
` 10
` 10
` 10
Euro 1
US$ 1
US$ 1
` 10
` 10
` 10
US$ 1
` 10
` 10
` 10
` 10
` 100
US$ 50
US$ 1
US$ 1
` 10
` 10
US$ 1
` 10
` 10
Euro 100
US$ 1
US$ 1
US$ 1
35,000
17,023,500
911
36,000
1,000
10,000
9,500
1,990,000
190
1,521,000
4,750,000
21,036,000
1,900
475
2,711
190
2,600
1,900
20,117,647
1,900
34
2,982
579,500
1,000
0.35
170.24
0.04
1.96
0.05
0.44
0.10
19.90
0.01
111.26
95.00
650.36
0.19
0.94
0.13
0.01
0.03
0.08
201.18
0.02
0.13
0.14
28.35
0.05
35,000
17,023,500
36,000
1,000
2,600
9,500
1,990,000
190
1,720
1,521,000
4,750,000
21,036,000
1,900
475
2,711
190
2,600
1,900
1,900
20,117,647
1,900
34
2,982
579,500
0.35
170.24
1.96
0.05
0.03
0.10
19.90
0.01
0.02
111.26
95.00
650.36
0.19
0.94
0.13
0.01
0.03
0.02
0.08
201.18
0.02
0.13
0.14
28.35
` 10
8,125
0.83
1,281.75
8,125
0.83
1,281.30
` 10
` 10
` 10
` 10
` 100
` 10
` 10
` 10
` 10
` 10
` 10
` 10
112,500
45,000
125,000
4,800
91,250
80,000
47,500
25,000
1,900
990,600
4,500
1,170,000
13.66
22.50
0.13
0.96
49.13
0.08
0.48
0.03
0.02
0.90
1.17
112,500
125,000
4,800
91,250
80,000
47,500
25,000
1,900
990,600
4,500
1,170,000
13.66
0.13
0.96
49.13
0.08
0.48
0.03
0.02
0.90
1.17
UNQUOTED
A.
B.
44
D.
E.
F.
G.
Other Investments
L ,Q6KDUHV)XOO\3DLGXSRI&R2SHUDWLYH%DQN
$KPHGQDJDU'LVWULFW8UEDQ&HQWUDO&R2SHUDWLYH%DQN/WG
[` 500 (Previous year ` 500)]
%KDUDWL6DKDNDUL%DQN/LPLWHG
%RPED\0HUFDQWLOH&R2SHUDWLYH%DQN/LPLWHG
-DQDWD6DKDNDUL%DQN/LPLWHG
7KH6DUDVZDW&R2SHUDWLYH%DQN/LPLWHG
` 10
` 10
` 10
` 10
US$ 1
` 1000
` 10
US$ 1
` 10
` 100
` 10
` 10
` 10
US$ 1
` 10
` 10
` 10
US$ 1
500,000
2,218
59,420
5,000
256,000
13,200
203,680
30,000
25,000
2,500
500,000
2,500
100,700
2,500
2,500
500,000
190
50.00
1.11
9.71
0.05
11.24
0.01
9.43
15.00
0.03
0.03
80.00
0.03
4.29
0.03
0.03
50.00
0.01
320.02
500,000
2,220
5,000
256,000
375
13,200
203,680
30,000
25,000
2,500
500,000
2,500
100,700
2,500
2,500
500,000
190
50.00
1.11
0.05
11.24
9.38
0.01
9.43
15.00
0.03
0.03
80.00
0.03
4.29
0.03
0.03
50.00
0.01
297.18
` 10
US$ 1
` 10
RO 1
` 10
` 10
` 10
US$ 1
10,000
279,950,000
2,251,800
550,000,000
10,000
1
135,000
0.10
2,799.50
270.14
5,500.00
0.10
0.11
6.42
10,000
10,000
4,960,000
2,251,800
550,000,000
10,000
135,000
0.10
0.44
49.60
270.14
5,500.00
0.10
6.42
` 10
US$ 1
100,000,000
-
1,000.00
-
100,000,000
1,000
1,000.00
0.04
US$ 1
US$ 1
` 10
` 10
` 10
802,500
2,030,000
3,000,000,000
100,000,000
563,487,120
44.48
92.75
30,000.00
1,000.00
5,634.87
46,348.47
2,500
2,030,000
2,000,000,000
100,000,000
155,552,000
0.12
92.75
20,000.00
1,000.00
1,555.52
29,475.23
` 10
5,000
0.05
0.05
5,000
0.05
0.05
` 100
` 100
` 10
3,800
10,000,000
5,000,000
0.38
1,000.00
20.00
1,020.38
3,800
0.38
0.38
` 1,000,000
50
50.00
50.00
50
50.00
50.00
` 50
10
10
` 50
` 10
` 10
` 10
7,670
4,166
857
1,000
0.38
0.04
0.09
0.01
0.52
7,670
4,166
857
1,000
0.38
0.04
0.09
0.01
0.52
` 50
31
(i)
ii)
(ii)
(i+ii)
H.
0.52
0.52
91.63
91.63
49,327.79
4,000.00
1,000.00
91.63
1,000.00
9,000.00
814.80
15,906.43
47,228.99
45
As at
30th June,
2013
As at
31st Dec.,
2011
(` in Million)
As at
30th June,
2013
Capital Advances
43.35
466.36
2WKHU%DQN%DODQFHV
Security Deposits
218.73
570.81
138.58
4.58
/RDQVDQG$GYDQFHVWR5HODWHG3DUWLHV
(Refer Note No. 43)
47,512.23
35,112.06
/RDQVDQG$GYDQFHVWR2WKHUV
26,828.64
18,934.37
74,741.53
55,088.18
0DWXULW\PRQWKVRUOHVV
Total
10.44
28.53
624.14
279.81
2,791.86
2,166.89
162.03
1,419.41
Sub-Total
3,588.47
3,894.64
Total
4,858.26
5,045.46
Excise/Customs
473.05
794.14
16.32
5,919.07
14,661.03
0DWXULW\PRUHWKDQPRQWKV
14. CURRENT
INVESTMENTS8QTXRWHG
Others
In Units of Mutual
Funds
Baroda Pioneer
PSU Equity Fund
` 10
250,000
1.57
250,000
1.61
Balance with
Department
Canara Robeco
0XOWLFDS*URZWK
` 10
250,000
2.50
250,000
2.50
Deposits
/RDQV DQG $GYDQFHV WR 5HODWHG 3DUWLHV
(Refer Note No. 43)
As at
31st Dec.,
2011
` 10
325,960
3.26
400,000
4.00
` 1,000
24,074
34.30
` 100,000
Central
/RDQVDQG$GYDQFHVWR2WKHUV
Total
Total
2,000
41.63
99,761.49
497.32
372.83
84,306.32
200.00
208.11
(` in Million)
15. INVENTORIES
$VWDNHQYDOXHGDQGFHUWLHGE\WKH
Management)
117,254.69
123,663.13
As at
30th June,
2013
As at
31st Dec.,
2011
13,527.94
13,583.66
2,560.53
2,295.62
994.04
830.39
4,171.24
3,800.08
222.20
236.83
103.02
60.51
21,578.97
20,807.09
Other Receivables
Total
1.45
10.71
296.78
515.08
795.55
898.62
(` in Million)
20. REVENUE FROM OPERATIONS
Sale of Products/Services
Income from Other Services
Other Operating Revenue
Total
Period ended
30th June,
2013
Year ended
31st Dec.,
2011
187,299.44
129,042.71
57.79
37.64
396.61
114.35
187,753.84
129,194.70
167,365.20
114,088.81
19,700.64
14,934.64
20.1 3DUWLFXODUVRI6DOHRI3URGXFWV6HUYLFHV
691.02
198.19
889.21
/HVV3URYLVLRQIRU'RXEWIXO'HEWV
198.19
2WKHUV&RQVLGHUHG*RRG
Total
188.89
284.41
473.30
284.41
691.02
188.89
27,635.98
27,315.53
28,327.00
27,504.42
Interest Income
Income from Investments and Securities
Division (Refer Note No. 30.2)
3URWRQ6DOHRI)L[HG$VVHWV
10.63
0.63
0.47
1,262.04
1,139.72
1,269.79
1,150.82
19.26
187,299.44
129,042.71
491.40
487.06
45.55
98.88
233.60
46
637.11
178.94
34.12
160.04
2,974.48
138.20
4,182.66
1,063.12
Period ended
30th June, 2013
` in Million
Percentage
(` in Million)
Year ended
31st Dec., 2011
Percentage
31.16
17,651.61
29.91
12,132.54
Indigenous
68.84
38,992.09
70.09
28,430.42
100.00
56,643.70
100.00
40,562.96
Total
` in Million
Imported
(` in Million)
Period ended
30th June,
2013
Year ended
31st Dec.,
2011
12,470.66
8,879.47
13,568.02
9,610.28
Period ended
30th June,
2013
Year ended
31st Dec.,
2011
1,421.14
845.10
2,097.75
1,442.54
Rent
295.26
201.35
228.58
95.14
Repairs to Building
9.87
8.97
90.08
63.95
73.02
80.22
100.37
61.64
2,545.66
1,239.53
215.48
125.45
6,903.97
4,996.66
383.30
673.49
22.01
14.20
Donation
89.91
50.54
1.99
1.38
/HJDODQG3URIHVVLRQDO&KDUJHV
399.17
295.99
Opening Inventories
Royalty
262.39
180.76
)LQLVKHG*RRGVDQG6WRFNLQ7UDGH
34.27
31.31
1,332.68
819.81
10,367.50
7,342.08
20,237.52
14,731.13
56,643.70
40,562.96
Total
Insurance
Advertisement and Publicity
Sales Promotion Expenses
Discount and Incentive Schemes
Bank Charges
59,133.82
38,501.83
59,133.82
38,501.83
Closing Inventories
)LQLVKHG*RRGVDQG6WRFNLQ7UDGH
:RUNLQ3URFHVV
Sub-Total
:RUNLQ3URFHVV
4,274.26
3,860.59
994.04
830.39
5,268.30
4,690.98
3,860.59
3,774.08
830.39
776.49
Sub-Total
4,690.98
4,550.57
Total
(577.32)
(140.41)
Total
1,048.65
783.99
Royalty
322.01
245.42
Cess
371.20
310.38
Production Bonus
71.66
54.44
10,812.77
7,587.37
42.05
26.16
12,668.34
9,007.76
3,616.20
2,038.14
189.05
121.77
174.69
93.55
3,979.94
*RYHUQPHQW6KDUHLQ3URW3HWUROHXP
Insurance Expenses
Total
Total
1,641.38
1,703.41
882.34
19,660.41
13,792.49
(716.32)
5,399.11
32.38
39.25
(748.70)
5,359.86
314,683,004
302,308,789
2,253.46
314,683,004
302,308,789
40.74
1,358.83
91.27
25,218.53
9,642.44
965.93
135.45
963.72
(2.38)
17.73
Total
27,148.18
9,777.89
(2.38)
17.73
47
30.1 During the period, there is a write back of ` 1.73 Million (Previous
year charge of ` 180.82 Million) against the diminution recognised
in earlier years in the value of investments.
(` in Million)
30.2 The Company has kept the investment activities separate and
distinct from other businesses. Consequently, all the income and
expenditure pertaining to investment activities have been allocated
to the Investments and Securities Division and the income/(loss) after
QHWWLQJRIWKHUHODWHGH[SHQGLWXUHKDVEHHQVKRZQDV,QFRPH/RVV
from Investments and Securities Division under Other Income
which includes in respect of the long term investments, dividend of
` 1.89 Million (Previous year ` 6.63 Million), interest on bonds of
` 6.96 Million (Previous year `0LOOLRQSURWRQVDOHGLVSRVDORI
investments of ` 43.05 Million (Previous year loss of ` 46.29 Million)
and in respect of current investments, dividend of ` 0.27 Million
(Previous year ` Nil).
Period ended
30th June, 2013
Year ended
31st Dec., 2011
632.15
638.51
653.24
632.15
c)
602.89
602.82
29.26
35.69
653.24
632.15
Amount used
(` in Million)
30.3 C.I.F. Value of Imports, Expenditure and
Earnings in Foreign Currency
a) C.I.F. Value of Imports:
Raw Materials
Capital Goods (including advances)
b) Expenditure incurred in Foreign
Currency:
Cash Call paid to the Operator for the
project
Interest and Bank Charges
Royalty
Travelling
Others
c) Other Earnings/Receipts in Foreign
Currency:
F.O.B. Value of Exports
2WKHUV
5HLPEXUVHPHQW RI ([SHQVHV RI
` 708.84 Million (Previous year `Nil) is
not considered)
Period ended
30th June,
2013
Year ended
31st Dec.,
2011
23,884.27
213.56
14,026.74
709.66
284.15
813.21
1,429.31
266.04
43.15
72.65
984.13
47.10
16.33
148.67
6,428.15
3,423.61
3,838.47
2.06
Gratuity
30th June,
2013
Leave Encashment
31st Dec.,
2011
223.73
158.49
54.67
44.29
55.34
54.74
(168.39)
(103.75)
(54.67)
(44.29)
(145.12)
(91.09)
(49.26)
(39.67)
(23.27)
(12.66)
(5.41)
(4.62)
54.75
20.64
20.35
7.34
b) Interest Cost
22.47
10.93
5.21
3.57
13.54
2.15
22.45
7.52
7.52
4.31
83.24
29.41
48.01
18.43
158.49
138.50
44.29
47.02
Period ended
30.4 Remittance in Foreign Currency on
30th June,
account of Dividend
2013
Year ended
31st Dec.,
2011
i) Non Current
ii) Current
II) The amounts recognised in the
6WDWHPHQW RI 3URW DQG /RVV
for the period:
1,217
1,372
38,531,878
24,556,038
19.27
24.56
c)
FY 2011
)<
(` in Million)
30.5
Payment to Auditors
Period ended
30th June,
2013
Year ended
31st Dec.,
2011
54.75
20.64
20.35
7.34
10.50
7.00
c) Interest Cost
22.47
10.93
5.21
3.57
a)
b)
2.80
1.40
13.54
2.15
22.45
7.52
c)
0.34
0.23
e) %HQHW3D\PHQWV
25.52
13.73
37.63
21.16
d)
Other Services
8.37
5.57
f)
223.73
158.49
54.67
44.29
22.01
14.20
Total
48
(` in Million)
Gratuity
30th June,
2013
Leave Encashment
31st Dec.,
2011
54.74
50.05
8.36
8.57
c) $FWXDO%HQHWVSDLG
15.28
8.19
55.34
54.74
7.52
4.31
b) Contribution by Employer
8% per annum
b) Mortality
c) Turnover Rate
5% per annum
(` in Million)
As at
30th June,
2013
As at
31st Dec.,
2011
508.19
628.54
i) /HWWHUVRI*XDUDQWHHV
39,317.01
76,432.95
ii) /HWWHUVRI&UHGLWRSHQHG
LQFOXGLQJ6WDQGE\/HWWHUVRI
&UHGLWDQG/HWWHURI&RPIRUW
61,216.92
29,921.44
502.46
447.02
3,149.41
494.74
1,034.95
610.88
1,131.51
919.84
2,153.30
1,062.64
34. There were certain disputes with the Government of India (GOI) with
respect to the Production Sharing Contract dated 28th October, 1994
(Ravva PSC) pertaining to Ravva Oil & Gas Field which were referred
to international arbitration for resolution. The Arbitral Tribunal has issued
D 3DUWLDO$ZDUG DQG LV VWLOO VHL]HG RI WKH PDWWHU DQG LV \HW WR LVVXH D
Final Award, other than for the dispute relating to Base Development
&RVWV%'&IRUZKLFKDQDODZDUGZDVLVVXHGRQWK-DQXDU\
substantially in favour of the Company. Issue relating to deductibility
of ONGC Carry Costs arising out of the Partial Award was appealed
by the GOI before the Malaysian Appellate Authorities which has since
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E\ VXFK DXWKRULWLHV DQG LV QRZ EHIRUH WKH QDO DSSHOODWH DXWKRULW\ LH
the Federal Court of Malaysia. Issue relating to deductibility of the BDC
was appealed by the GOI before the Malaysian Appellate Authority
which has since been rejected by such authority and is now before the
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certain amounts have been short paid by GOI Nominees which have
been disputed by the Company and the Company is seeking refund of
amounts excessively deducted. Based on legal advice, the Company
believes its contentions will be upheld. Any further sum required to be
paid or returnable in respect of such disputes in accordance with the
determination of the amount by the Honble Arbitral Tribunal/relevant
FRXUWVLQWKLVUHJDUGVKDOOEHDFFRXQWHGIRURQWKHQDORXWFRPHLQWKRVH
matters.
Commitments
49
37. The Company has, directly and through its subsidiaries, made
investments aggregating to ` 49,337.50 Million and also given advances
of `0LOOLRQWR9LGHRFRQ7HOHFRPPXQLFDWLRQV/LPLWHG97/WKH
VXEVLGLDU\ 97/ ZDV JUDQWHG WKH OLFHQVH IRU SURYLGLQJ 8QLHG $FFHVV
Services (UAS) in 21 circles by the Department of Telecommunications,
Government of India (DoT) in 2008 and was also allotted spectrum
in 20 circles. The Honble Supreme Court of India, vide its judgment
dated 2nd February, 2012, quashed all the UAS licenses granted on or
after 10th January, 2008 and the subsequent allocation of spectrum to
WKHVHOLFHQVHHVZKLFKDOVRLQFOXGHWKH8$6OLFHQVHVJUDQWHGWR97/
and the spectrum allotted to it. The Honble Supreme Court of India,
also directed the Telecom Regulatory Authority of India (TRAI) to make
fresh recommendations for grant of licenses and allocation of spectrum
and the Central Government to grant fresh licenses and allocation of
spectrum by auction thereafter.
C)
i)
50
Subsidiaries:
D &KKDWWLVJDUK3RZHU9HQWXUHV3ULYDWH/LPLWHG
E (DJOH(&RUS/LPLWHGXSWRWK-XQH
F /LEHUW\9LGHRFRQ*HQHUDO,QVXUDQFH&RPSDQ\/LPLWHG
G 0LGGOH(DVW$SSOLDQFHV//&
H 3LSDYDY(QHUJ\3ULYDWH/LPLWHG
I 3URVSHURXV(QHUJ\3ULYDWH/LPLWHG
J 9LGHRFRQ (OHFWURQLFV 6KHQ]KHQ /LPLWHG &KLQHVH
1DPH:HL\RXNDQJ(OHFWURQLF6KHQ]KHQ&R/WG
K 9LGHRFRQ*OREDO/LPLWHG
L 9LGHRFRQ2LO9HQWXUHV/LPLWHGDQGLWVVXEVLGLDULHV
- 9LGHRFRQ(VWHOOH/LPLWHG
- 9LGHRFRQ,YRU\/LPLWHG
- 9LGHRFRQ +\GURFDUERQ +ROGLQJV /LPLWHG DQG LWV
subsidiaries
- 9LGHRFRQ-3'$/LPLWHG
- Videocon Indonesia Nunukan Inc.
- 9LGHRFRQ(QHUJ\%UD]LO/LPLWHG
- 9LGHRFRQ$XVWUDOLD:$3/LPLWHG
- 2LO 6HUYLFHV ,QWHUQDWLRQDO 6$6 /LTXLGDWHG RQ
10th July, 2012)
- 9LGHRFRQ 0DXULWLXV (QHUJ\ /LPLWHG ZHI WK
December, 2012) and its subsidiary
- 9LGHRFRQ0R]DPELTXH5RYXPD/LPLWHG
(PHUDOG&RUSRUDWH9HQWXUHV/LPLWHGIRUPHUO\9LGHRFRQ
(QHUJ\ 9HQWXUHV /WG XSWR WK -XQH DQG LWV
subsidiary
(` in Million)
Particulars
Reimbursement of
Expenses
- -XPER7HFKQR6HUYLFHV3ULYDWH/LPLWHG
- 6HQLRU&RQVXOWLQJ3ULYDWH/LPLWHG
- 9LGHRFRQ 7HOHFRPPXQLFDWLRQV /LPLWHG DQG LWV
subsidiary
- 'DWDFRP7HOHFRPPXQLFDWLRQV3ULYDWH/LPLWHG
O
9LGHRFRQ(QHUJ\/LPLWHGDQGLWVVXEVLGLDU\
- 3URFLHQW(QHUJ\3ULYDWH/LPLWHGDQGLWVVXEVLGLDU\
- $SSOLHG(QHUJ\3ULYDWH/LPLWHGDQGLWVVXEVLGLDULHV
- 8QLW\3RZHU3ULYDWH/LPLWHG
- &RPHW3RZHU3ULYDWH/LPLWHGDQGLWVVXEVLGLDULHV
ii)
28,816.14
(18,610.91)
3,050.07
(6,158.31)
/RQJ7HUP$GYDQFHV
/RDQVUHFHLYHGEDFN
16,415.97
11,424.00
(2,563.50)
5.13
(81.69)
Remuneration
Outstanding as at
30th June, 2013
Trade Receivables
Trade Payables
6,058.92
(1,095.23)
/RQJ7HUP$GYDQFHV
/RDQVJLYHQ
Subsidiary $VVRFLDWHV
Key
Companies
Joint Management
Venture
Personnel
6,494.69
9.63
(2,560.92)
(90.42)
0.04
(8.40)
368.07
76.95
81.01
(43.07)
(68.34)
(20.53)
/RQJ7HUP$GYDQFHV
/RDQVJLYHQ
47,512.23
(35,112.06)
5,915.77
(14,289.70)
3.30
(371.33)
5DGLXP(QHUJ\3ULYDWH/LPLWHG$VVRFLDWH
46,440.10
(40,381.66)
0.08
(0.10)
$GYDQFHV/RDQVUHFHLYHG
9.87
(81.69)
C)
0U9HQXJRSDO1'KRRW&KDLUPDQ 0DQDJLQJ'LUHFWRU
0U 3UDGLSNXPDU 1 'KRRW :KROH 7LPH 'LUHFWRU XSWR
14th August, 2012)
0U6XQLO.XPDU-DLQ6HQLRU9LFH3UHVLGHQW
0U6KHNKDU-\RWL9LFH3UHVLGHQW
0U&KDQGUDPDQL06LQJK9LFH3UHVLGHQW
0U-DLGHHS55DWKRUH6HQLRU9LFH3UHVLGHQWXSWRVW
March, 2013)
0U$EKLMLW.RWQLV9LFH3UHVLGHQW
0U$UXQ3DO9LFH3UHVLGHQW
)LJXUHVLQEUDFNHWDUHIRUWKH\HDUHQGHGVW'HFHPEHU
Material transactions with Related Parties during the period are:
i)
ii)
iii)
iv)
Y
% 7UDQVDFWLRQVRXWVWDQGLQJEDODQFHVZLWK5HODWHG3DUWLHV
The Company has entered into transactions with certain related
parties during the period as listed below. The Board considers such
transactions to be in normal course of business:
(` in Million)
Particulars
Subsidiary $VVRFLDWHV
Key
Companies
Joint Management
Venture
Personnel
Nature of Transactions
Revenue from Operations
Other Income
Purchase of Goods/
Services
51.21
(424.75)
2,278.25
(89.75)
51
9LGHRFRQ(QHUJ\%UD]LO/LPLWHG
9LGHRFRQ(QHUJ\/LPLWHG
Emerald Corporate Ventures
/LPLWHGXSWRWK-XQH
(formerly Videocon Energy
9HQWXUHV/LPLWHG
9LGHRFRQ*OREDO/LPLWHG
Videocon Hydrocarbon Holdings
/LPLWHG
Videocon Indonesia Nunukan
/LPLWHG
9LGHRFRQ0R]DPELTXH5RYXPD
/LPLWHG
*RD(QHUJ\3ULYDWH/LPLWHG
5DGLXP(QHUJ\3ULYDWH/LPLWHG
9LGHRFRQ,QQLW\,QIUDVWUXFWXUH
3ULYDWH/LPLWHG
ii)
As at
30th June,
2013
As at
31st Dec.,
2011
Videocon International
(OHFWURQLFV/LPLWHG
Subsidiary
31,719.83
12,616.70
9LGHRFRQ2LO9HQWXUHV/LPLWHG
Subsidiary
15,009.66
5,296.65
Videocon Telecommunications
/LPLWHG
Subsidiary
782.74
17,198.71
b)
Subsidiary
Subsidiary
Subsidiary
0.41
0.31
Datacom Telecommunications
3ULYDWH/LPLWHG
,QGLJR(QHUJ\3ULYDWH/LPLWHG
Jumbo Techno Services Private
/LPLWHG
/LEHUW\9LGHRFRQ*HQHUDO
,QVXUDQFH&RPSDQ\/LPLWHG
3HUFHSW(QHUJ\3ULYDWH/LPLWHG
3LSDYDY(QHUJ\3ULYDWH/LPLWHG
Prosperous Energy Private
/LPLWHG
Senior Consulting Private
/LPLWHG
8QLW\3RZHU3ULYDWH/LPLWHG
Videocon Electronics
6KHQ]KHQ/LPLWHG
Subsidiary
0.01
0.0004
Subsidiary
Subsidiary
0.01
-
0.01
Subsidiary
14.61
Subsidiary
Subsidiary
Subsidiary
1.03
1,475.42
417.37
1,550.99
409.42
Subsidiary
0.01
Subsidiary
Subsidiary
5.82
0.002
2,380.65
9,993.31
Subsidiary
1.17
Subsidiary
6.09
Associate
Associate
Joint
Venture
0.55
2.75
368.07
0.51
2.75
(` in Million)
As at
As at
30th June,
31st Dec.,
2013
2011
114.17
7.93
1,509.53
972.61
$SSOLHG(QHUJ\3ULYDWH/LPLWHG
Chhattisgarh Power Ventures
3ULYDWH/LPLWHG
&RPHW3RZHU3ULYDWH/LPLWHG
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
(` in Million)
As at
As at
30th June,
31st Dec.,
2013
2011
4.08
0.01
1,340.50
Unit of measurement
As at
30th June, 2013
As at
31st Dec., 2011
Crude Oil
0.85
1.53
Natural Gas
187.84
240.29
Particulars
45. a)
SHIVRATAN AGARWAL
3DUWQHU
Membership No. 104180
U. S. KADAM
3DUWQHU
Membership No. 31055
V. N. DHOOT
&KDLUPDQDQG0DQDJLQJ'LUHFWRU
VINOD KUMAR BOHRA
&RPSDQ\6HFUHWDU\
Place : Mumbai
Date : 29th November, 2013
52
S. PADMANABHAN
'LUHFWRU
We have audited the attached Consolidated Balance Sheet of Videocon Industries Limited (the Company) and its subsidiaries, associates and joint
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RQWKDWGDWHDQQH[HGWKHUHWR7KHVH&RQVROLGDWHG)LQDQFLDO6WDWHPHQWVDUHWKHUHVSRQVLELOLW\RIWKH&RPSDQ\VPDQDJHPHQWDQGKDYHEHHQSUHSDUHG
E\WKHPRQWKHEDVLVRIVHSDUDWHQDQFLDOVWDWHPHQWVDQGRWKHUQDQFLDOLQIRUPDWLRQUHJDUGLQJFRPSRQHQWV2XUUHVSRQVLELOLW\LVWRH[SUHVVDQRSLQLRQ
RQWKHVH&RQVROLGDWHG)LQDQFLDO6WDWHPHQWVEDVHGRQRXUDXGLW
:HFRQGXFWHGRXUDXGLWLQDFFRUGDQFHZLWK$XGLWLQJ6WDQGDUGVJHQHUDOO\DFFHSWHGLQ,QGLD7KHVH6WDQGDUGVUHTXLUHWKDWZHSODQDQGSHUIRUPWKHDXGLW
WRREWDLQUHDVRQDEOHDVVXUDQFHZKHWKHUWKHQDQFLDOVWDWHPHQWVDUHSUHSDUHGLQDOOPDWHULDOUHVSHFWVLQDFFRUGDQFHZLWKDQLGHQWLHGQDQFLDOUHSRUWLQJ
IUDPHZRUNDQGDUHIUHHRIPDWHULDOPLVVWDWHPHQW$QDXGLWLQFOXGHVH[DPLQLQJRQDWHVWEDVLVHYLGHQFHVXSSRUWLQJWKHDPRXQWVDQGGLVFORVXUHVLQ
WKHQDQFLDOVWDWHPHQWV$QDXGLWDOVRLQFOXGHVDVVHVVLQJWKHDFFRXQWLQJSULQFLSOHVXVHGDQGVLJQLFDQWHVWLPDWHVPDGHE\PDQDJHPHQWDVZHOODV
HYDOXDWLQJWKHRYHUDOO&RQVROLGDWHG)LQDQFLDO6WDWHPHQWVSUHVHQWDWLRQ:HEHOLHYHWKDWRXUDXGLWSURYLGHVDUHDVRQDEOHEDVLVIRURXURSLQLRQ
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` 4,670.19 Million as at 30th June 2013/ 31st March 2013, total revenues (net) of `0LOOLRQDQGQHWFDVKRZVDPRXQWLQJWR` 506.37 Million
IRUWKHSHULRGHQGHGRQWKDWGDWHDQGQDQFLDOVWDWHPHQWVRIDVVRFLDWHVLQZKLFKWKHVKDUHRIORVVLV`0LOOLRQ7KHVHQDQFLDOVWDWHPHQWV
KDYHEHHQDXGLWHGE\RWKHUDXGLWRUVZKRVHUHSRUWVKDYHEHHQIXUQLVKHGWRXVDQGRXURSLQLRQLVEDVHGVROHO\RQWKHUHSRUWVRIWKHRWKHUDXGLWRUV
:H UHSRUW WKDW WKH &RQVROLGDWHG )LQDQFLDO 6WDWHPHQWV KDYH EHHQ SUHSDUHG E\ WKH &RPSDQ\ LQ DFFRUGDQFH ZLWK WKH UHTXLUHPHQWV RI WKH$FFRXQWLQJ
6WDQGDUG$6RQ&RQVROLGDWHG)LQDQFLDO6WDWHPHQWV$FFRXQWLQJ6WDQGDUG$6RQ$FFRXQWLQJIRU,QYHVWPHQWVLQ$VVRFLDWHVLQ&RQVROLGDWHG
)LQDQFLDO6WDWHPHQWVDQG$FFRXQWLQJ6WDQGDUG$6)LQDQFLDO5HSRUWLQJRI,QWHUHVWLQ-RLQW9HQWXUHVLVVXHGE\WKH,QVWLWXWHRI&KDUWHUHG$FFRXQWDQWV
RI,QGLDDQGRQWKHEDVLVRIWKHVHSDUDWHDXGLWHGQDQFLDOVWDWHPHQWVRIWKH&RPSDQ\DQGLWVVXEVLGLDULHVLQFOXGHGLQ&RQVROLGDWHG)LQDQFLDO6WDWHPHQWV
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DZDUGHGWKH8QLHG/LFHQVHV$FFHVV6HUYLFHVIRUFLUFOHVZHIWK)HEUXDU\ZKLFKDUHYDOLGIRUDSHULRGRI\HDUV97/KDVDOVREHHQ
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WKHVWDWHPHQWVUHFHLYHGIURPWKHUHVSHFWLYH2SHUDWRU7KH&RPSDQ\KDVUHFHLYHGWKHDXGLWHGQDQFLDOVWDWHPHQWVIRUWKHSHULRGXSWRVW0DUFK
DQGXQDXGLWHGQDQFLDOVWDWHPHQWVIRUWKHSHULRGVW$SULOWRWK-XQHLQUHVSHFWRI5DYYD2LO *DV)LHOG-RLQW9HQWXUHRQ
ZKLFKZHKDYHSODFHGUHOLDQFH
6.
As mentioned in Note No.13.1 to the Financial Statements, the Subsidiary, VTL has recognized net Deferred Tax Assets of ` 11,583.48 Million on the
unabsorbed depreciation and business losses, based on future business plan, estimated increase in subscribers base, additional capital infusion which
ZRXOGUHVWULFWIXUWKHUERUURZLQJVDQGUHODWHGFRVWVDQGWKDWWKHUHZRXOGEHVXIFLHQWSURWVWRDEVRUEWKHHQWLUHXQDEVRUEHGGHSUHFLDWLRQDQGEXVLQHVV
ORVVHV +RZHYHU LQ WKH DEVHQFH RI FRQYLQFLQJ VXSSRUWLQJ HYLGHQFH RI IXWXUH WD[DEOH SURWV ZH DUH XQDEOH WR FRPPHQW RQ WKH UHDVRQDEOHQHVV RI
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2Q WKH EDVLV RI WKH LQIRUPDWLRQ DQG H[SODQDWLRQV JLYHQ WR XV DQG RQ WKH FRQVLGHUDWLRQ RI WKH VHSDUDWH DXGLW UHSRUW RQ LQGLYLGXDO DXGLWHG QDQFLDO
VWDWHPHQWVRIWKH&RPSDQ\LWV-RLQW9HQWXUHVDQGLWVVXEVLGLDULHVZHDUHRIWKHRSLQLRQWKDWWKHDWWDFKHG&RQVROLGDWHG)LQDQFLDO6WDWHPHQWVsubject
WRSDUDJUDSKDERYHWKHFRQVHTXHQWLPSDFWRIZKLFKRQWKHQDQFLDOVWDWHPHQWVLIDQ\LVXQDVFHUWDLQDEOHDQGUHDGZLWKWKHQRWHVDQGWKHVLJQLFDQW
DFFRXQWLQJSROLFLHVWKHUHRQJLYHDWUXHDQGIDLUYLHZLQFRQIRUPLW\ZLWKWKHDFFRXQWLQJSULQFLSOHVJHQHUDOO\DFFHSWHGLQ,QGLD
a.
E
F
in the case of the Consolidated Balance Sheet, of the state of affairs of the Company and its subsidiaries, associates and joint ventures as at
30th June, 2013;
LQWKHFDVHRIWKH&RQVROLGDWHG6WDWHPHQWRI3URWDQG/RVVRIWKHFRQVROLGDWHGORVVRIWKH&RPSDQ\DQGLWVVXEVLGLDULHVDVVRFLDWHVDQGMRLQW
ventures for the period ended on that date; and
LQWKHFDVHRIWKH&RQVROLGDWHG&DVK)ORZ6WDWHPHQWRIWKHFRQVROLGDWHGFDVKRZVRIWKH&RPSDQ\DQGLWVVXEVLGLDULHVDVVRFLDWHVDQGMRLQW
ventures for the period ended on that date.
SHIVRATAN AGARWAL
Partner
0HPEHUVKLS1R
U.S.KADAM
Partner
0HPEHUVKLS1R
3ODFH0XPEDL
'DWH WK1RYHPEHU
53
Note No.
3
4
(` in Million)
$VDW
31st Dec., 2011
3,340.94
43,796.04
47,136.98
-
3,339.36
69,450.43
2,079.81
104.10
2)
3)
Minority Interest
4)
Non-Current Liabilities
a) /RQJ7HUP%RUURZLQJV
b) Deferred Tax Liability (Net)
c) /RQJ7HUP3URYLVLRQV
5
13
6
310,786.55
1,499.40
312,285.95
143,960.69
7,351.19
1,299.74
152,611.62
Current Liabilities
a) 6KRUW7HUP%RUURZLQJV
b) Trade Payables
c) 2WKHU&XUUHQW/LDELOLWLHV
d) Short Term Provisions
7
9
10
58,083.65
15,775.64
58,361.04
966.43
133,186.76
494,689.50
79,567.71
14,151.46
67,136.75
907.00
161,762.92
392,717.17
75,715.31
23,226.54
95,252.89
1,606.12
11,079.53
17,925.34
7,548.97
43,530.03
275,884.73
55,223.46
2,165.20
77.91
632.49
21,656.82
29,433.94
9,004.12
157,122.59
954.81
218,804.77
494,689.50
12,255.92
132,109.77
943.59
194,567.91
392,717.17
5)
TOTAL
II.
As at
30th June, 2013
ASSETS
1) Non-Current Assets
a) )L[HG$VVHWV
L 7DQJLEOH$VVHWV
LL ,QWDQJLEOH$VVHWV
LLL &DSLWDOZRUNLQSURJUHVV
b) 3UH2SHUDWLYH([SHQGLWXUH3HQGLQJ$OORFDWLRQ
c) *RRGZLOORQ&RQVROLGDWLRQ
d) 'HIHUUHG7D[$VVHWV1HW
e) Non-Current Investments
f) /RQJ7HUP/RDQVDQG$GYDQFHV
2)
11
12
13
14
15
Current Assets
a) Current Investments
b) Inventories
c) 7UDGH5HFHLYDEOHV
d) &DVKDQG%DQN%DODQFHV
e) 6KRUW7HUP/RDQVDQG$GYDQFHV
f) 2WKHU&XUUHQW$VVHWV
16
17
19
20
21
TOTAL
6LJQLFDQW$FFRXQWLQJ3ROLFLHV
Notes forming part of the Financial Statements
1
WR
$VSHURXUUHSRUWRIHYHQGDWH
)RUDQGRQEHKDOIRIWKH%RDUG
SHIVRATAN AGARWAL
Partner
0HPEHUVKLS1R
U. S. KADAM
Partner
Membership No. 31055
V. N. DHOOT
Chairman and Managing Director
3ODFH0XPEDL
'DWH WK1RYHPEHU
54
S. PADMANABHAN
Director
CONSOLIDATED STATEMENT OF PROFIT AND LOSS FOR THE PERIOD 1ST JANUARY, 2012 TO 30TH JUNE, 2013
(` in Million)
Particulars
I.
Note No.
22
/HVV([FLVH'XW\
1HW5HYHQXHIURP2SHUDWLRQV
2WKHU,QFRPH
23
Total Income
III.
Year ended
31st Dec., 2011
194,238.53
6,181.09
188,057.44
134,152.59
8,903.04
1,375.74
196,960.48
INCOME
5HYHQXHIURP2SHUDWLRQV
II.
Period ended
30th June, 2013
EXPENSES
Cost of Materials Consumed
56,643.70
40,562.96
3XUFKDVHRI6WRFNLQ7UDGH
59,134.62
(137.64)
24
(578.21)
3URGXFWLRQDQG([SORUDWLRQ([SHQVHV2LODQG*DV
25
26,602.34
9,007.76
$FFHVV&KDUJHV/LFHQVH)HHVDQG1HWZRUN([SHQVHV
26
9,505.34
(PSOR\HH%HQHWV([SHQVH
27
5,708.88
)LQDQFH&RVWV
40,774.95
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11
13,255.70
9,160.75
2WKHU([SHQVHV
29
28,949.73
17,932.71
Total Expenses
239,997.05
147,256.44
(43,036.57)
(5.09)
(0.19)
Tax Expenses
30
V.
VI.
VII.
$GG0LQRULW\,QWHUHVW
(1,032.21)
49.74
(12,005.08)
1,964.31
(32,068.79)
3,807.60
5.21
(28,261.19)
(13,637.66)
(89.91)
(45.24)
31
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SHIVRATAN AGARWAL
Partner
0HPEHUVKLS1R
U. S. KADAM
Partner
Membership No. 31055
V. N. DHOOT
Chairman and Managing Director
3ODFH0XPEDL
'DWH WK1RYHPEHU
55
S. PADMANABHAN
Director
CONSOLIDATED CASH FLOW STATEMENT FOR THE PERIOD ENDED ON 30TH JUNE, 2013
Period ended on
30th June, 2013
(` in Million)
Year ended on
31st Dec., 2011
(43,036.57)
13,255.70
40,774.95
(0.10)
59.63
21.09
135.65
179.74
2.38
(5,175.91)
(1.73)
(16.15)
3,813.90
3,807.60
13,820.18
9,160.75
30.54
(6.36)
94.73
(743.09)
(279.59)
5.21
(A)
(759.41)
(1,460.57)
(30,932.78)
(11.22)
1,624.18
7,299.94
(10,419.68)
12,174.75
(22,594.43)
4,056.27
1,410.22
(64,329.17)
(B)
12,412.59
(75,906.68)
559.08
(5.09)
(1,032.21)
5,175.91
(1,209.56)
2,903.45
(11,001.62)
16.15
(68,087.98)
1,456.93
(49,034.43)
(1,332.69)
(0.19)
49.74
743.09
(39.59)
279.59
(53,245.02)
157.53
(155.95)
2,642.80
(1,204.10)
(5,448.74)
1,975.71
150,768.30
(21,484.06)
(40,774.95)
(211.25)
(31.33)
(12.91)
86,221.05
(4,461.36)
6,911.35
2,449.99
6,554.13
9,004.12
10.63
260.69
100.91
7.96
(1,133.67)
(350.55)
(0.25)
116,173.71
6,911.35
5,344.57
12,255.92
Particulars
A.
B.
C.
(C)
(A+B+C)
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SHIVRATAN AGARWAL
Partner
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U. S. KADAM
Partner
Membership No. 31055
V. N. DHOOT
Chairman and Managing Director
VINOD KUMAR BOHRA
Company Secretary
3ODFH 0XPEDL
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56
S. PADMANABHAN
Director
A.
Basis of Consolidation:
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The companies which are included in the consolidation with their respective countries of incorporation and the percentage of ownership
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Percentage of Ownership
Interest as at
30th June, 2013
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India
100%
100%
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India
100%
100%
China
100%
100%
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100%
100%
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100%
100%
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100%
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Videocon Ivory Limited (1)
Mauritius
100%
100%
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Cayman Islands
100%
100%
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Cayman Islands
100%
100%
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Cayman Islands
100%
100%
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100%
100%
Cayman Islands
100%
100%
100%
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Mauritius
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100%
100%
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100%
0HUFXU\&RUSRUDWH9HQWXUHV/LPLWHGIRUPHUO\9LGHRFRQ2PDQ/LPLWHG
(upto 20th June, 2013) (4)
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100%
9LGHRFRQ,QWHUQDWLRQDO(OHFWURQLFV/LPLWHG
India
100%
100%
India
100%
99%
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India
100%
90%
India
90.8%
99.9%
India
90.8%
99.9%
9LGHRFRQ(QHUJ\/LPLWHG
India
100%
100%
3URFLHQW(QHUJ\3ULYDWH/LPLWHG(7)
India
100%
100%
$SSOLHG(QHUJ\3ULYDWH/LPLWHG
India
100%
100%
8QLW\3RZHU3ULYDWH/LPLWHG(9)
India
51%
51%
&RPHW3RZHU3ULYDWH/LPLWHG(9)
India
51%
51%
India
51%
India
51%
1DPHRIWKH$VVRFLDWH-RLQW9HQWXUH
Country of Incorporation
Percentage of Ownership
Interest as at
30th June, 2013
%UD]LO
50%
50%
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India
50%
50%
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India
26%
5DGLXP(QHUJ\3ULYDWH/LPLWHG
India
26%
26%
India
47%
Notes:
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6XEVLGLDU\RI9LGHRFRQ(QHUJ\/LPLWHG
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61
As at
30th June, 2013
(` in Million)
$VDW
31st Dec., 2011
Total
5,000.00
1,000.00
6,000.00
5,000.00
1,000.00
6,000.00
(a)
3,187.72
0.08
3,187.64
3,030.22
0.11
3,030.11
150.74
301.56
2.56
7.69
153.30
3,340.94
309.25
3,339.36
SHARE CAPITAL
Authorised:
3UHYLRXV\HDU(TXLW\6KDUHVRI` 10/- each
3UHYLRXV\HDU5HGHHPDEOH3UHIHUHQFH6KDUHVRI` 100/- each
Issued, Subscribed and Paid-up:
Equity Shares
3UHYLRXV\HDU(TXLW\6KDUHVRI` 10/- each fully paid-up.
/HVV&DOOVLQ$UUHDUVE\RWKHUV
Preference Shares
L 3UHYLRXV \HDU &XPXODWLYH 5HGHHPDEOH 3UHIHUHQFH 6KDUHV RI
` 33.32 each (Previous year `HDFKIXOO\SDLGXSUHGHHPDEOHDWSDURQVW2FWREHU
LL 3UHYLRXV \HDU &XPXODWLYH 5HGHHPDEOH 3UHIHUHQFH 6KDUHV RI ` 33.34
each (Previous year `HDFKIXOO\SDLGXSUHGHHPDEOHDWSDURQVW)HEUXDU\
(b)
Total (a+b)
3.1
` in Million
No. of Shares
` in Million
303,021,669
3,030.22
301,963,634
3,019.64
15,750,000
157.50
318,771,669
3,187.72
303,021,669
3,030.22
4,523,990
301.56
4,523,990
452.40
150.82
4,523,990
150.74
4,523,990
301.56
76,870
7.69
7.69
5.13
76,870
2.56
7.69
b)
$VDWVW'HF
No. of Shares
c)
3.2
3.3
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b)
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c)
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Name of Shareholders
a)
b)
c)
Equity Shareholders
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b) 3ODWLQXP$SSOLDQFHV3ULYDWH/LPLWHG
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d) 6\QHUJ\$SSOLDQFHV3ULYDWH/LPLWHG
e) 9LGHRFRQ5HDOW\DQG,QIUDVWUXFWXUHV/LPLWHG
$VDWVW'HF
No. of Shares RI+ROGLQJ
19,741,049
15,604,666
28,404,836
16,010,575
63,570,518
6.19
4.90
8.91
5.02
19.94
19,067,113
15,604,666
26,015,207
16,010,575
63,566,495
6.29
5.15
441,990
4,082,000
9.77
90.23
441,990
9.77
90.23
76,870
100.00
100.00
62
(` in Million)
$VDW
31st Dec., 2011
(a)
9.74
9.74
9.74
9.74
(b)
688.33
155.96
844.29
537.50
(c)
43,576.23
2,642.09
12.91
46,205.41
1.59
46,203.82
259.66
0.25
43,576.23
2.30
43,573.93
(d)
1,053.17
1,909.34
2,962.51
3,029.64
(1,976.47)
1,053.17
(e)
0.01
0.01
0.01
0.01
(f)
2,546.06
241.84
2,787.90
2,546.06
(g)
16,201.48
300.00
16,501.48
1,000.00
5,377.71
(28,261.19)
(22,883.48)
(13,637.66)
1,976.47
6,753.03
(h)
155.96
1,909.34
300.00
198.77
27.68
38.48
(25,513.71)
1,000.00
159.39
33.77
31.33
5,377.71
Total (a to h)
43,796.04
69,450.43
b)
c)
d)
e)
f)
g)
h)
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Balance available for Appropriations
Less: Appropriations
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Proposed Dividend - Preference Shares
Tax on Proposed Dividend
(` in Million)
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Non-Current
Current
5. LONG-TERM BORROWINGS
a) Secured
Non-Convertible Debentures
Term Loans
i) 7HUP/RDQVIURP%DQNV
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vi) Deferred Payment Liabilities
21.60
(a)
276,657.05
15,019.23
151.79
0.05
7,146.20
298,974.32
29,419.33
1,099.35
589.41
130.67
31,238.76
91,156.44
1,164.44
75.25
99,700.02
16,334.73
76.74
(b)
Total (a+b)
11,652.34
115.59
27.66
16.64
11,812.23
310,786.55
2,000.00
8.78
2,008.78
33,247.54
6,749.94
10,423.73
27,046.07
40.93
44,260.67
143,960.69
30,331.35
15.51
49,305.10
b) Unsecured
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Compulsorily Convertible Debentures
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Sales Tax Deferral
63
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The Bonds are convertible at the option of the bondholders at any time on or after 25th January, 2011 to 7 days before maturity date
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of the conversion price.
iii)
The Bonds are redeemable at maturity date i.e. on 16th December, 2015 at its principal amount, if not redeemed or converted earlier.
c)
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Term Loans
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20,797.25
12,437.39
37,566.62
35,025.11
1,610.93
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Vehicle Loan
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9.11
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1st December, 2015.
6.
Total
As at
30th June, 2013
161.62
58.27
1,279.51
1,499.40
(` in Million)
$VDW
31st Dec., 2011
106.36
49.52
1,299.74
(a)
21,039.46
15,476.39
36,515.85
29,573.50
(b)
Total (a+b)
7,620.83
13,946.97
21,567.80
58,083.65
40,642.32
40,642.32
79,567.71
LONG-TERM PROVISIONS
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SHORT-TERM BORROWINGS
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0U3UDGLSNXPDU1'KRRW
LL
/RDQVDPRXQWLQJWR`0LOOLRQLVVHFXUHGE\PRUWJDJHRISURSHUWLHVRZQHGE\WKH&RPSDQ\DQGRZQHGE\RWKHUV7KHORDQLV
IXUWKHUVHFXUHGE\SHUVRQDOJXDUDQWHHVRI0U9HQXJRSDO1'KRRWDQG0U3UDGLSNXPDU1'KRRW
LLL
)RUVHFXULW\RIORDQVDPRXQWLQJWR`0LOOLRQ5HIHU1RWH1RDL
LY
)RUVHFXULW\RIORDQVDPRXQWLQJWR`0LOOLRQ5HIHU1RWH1RDLL
:RUNLQJ &DSLWDO /RDQV IURP %DQNV DUH VHFXUHG E\ K\SRWKHFDWLRQ RI WKH &RPSDQ\V VWRFN RI UDZ PDWHULDOV SDFNLQJ PDWHULDOV VWRFNLQ
SURFHVVQLVKHGJRRGVVWRUHVDQGVSDUHVERRNGHEWVRI*ODVV6KHOO'LYLVLRQRQO\DQGSHUVRQDOJXDUDQWHHVRI0U9HQXJRSDO1'KRRWDQG
0U3UDGLSNXPDU1'KRRW
7.2
Unsecured Loans
8QVHFXUHG/RDQVIURP%DQNVDUHVHFXUHGE\SHUVRQDOJXDUDQWHHVRI0U9HQXJRSDO1'KRRWDQG0U3UDGLSNXPDU1'KRRWDQGORDQVDPRXQWLQJ
to `0LOOLRQDUHIXUWKHUVHFXUHGE\PRUWJDJHRISURSHUWLHVRZQHGE\RWKHUVVLWXDWHGDW$KPHGDEDG$XUDQJDEDGDQG0XPEDL
(` in Million)
8.
As at
30th June, 2013
TRADE PAYABLES
0LFUR6PDOODQG0HGLXP(QWHUSULVHV
79.93
4.61
15,695.71
15,775.64
14,151.46
33,247.54
49,305.10
889.11
,QWHUHVWDFFUXHGEXWQRWGXHRQ%RUURZLQJV
3,250.36
513.53
,QWHUHVWDFFUXHGDQGGXHRQ%RUURZLQJV
4,674.09
483.66
436.10
10.44
&UHGLWRUVIRU&DSLWDO([SHQGLWXUH
9,735.73
2WKHU3D\DEOHV
6,070.11
6,902.97
58,361.04
67,136.75
198.77
159.39
27.68
33.77
2WKHUV
Total
9.
$GYDQFHVIURP&XVWRPHUVDQG8QHDUQHG,QFRPH
8QFODLPHG'LYLGHQG
Total
10.
$VDW
31st Dec., 2011
SHORT-TERM PROVISIONS
3URSRVHG'LYLGHQG(TXLW\6KDUHV
Proposed Dividend - Preference Shares
Provision for Tax on Dividend
3URYLVLRQIRU:DUUDQW\DQG0DLQWHQDQFH([SHQVHV5HIHU1RWH1R
3UHPLXP'HFLHQF\5HVHUYH
3URYLVLRQIRU*UDWXLW\5HIHU1RWH1R%
3URYLVLRQIRU/HDYH(QFDVKPHQW5HIHU1RWH1R%
Total
66
38.48
31.33
653.24
632.15
2.38
36.28
31.91
9.60
966.43
907.00
67
Leasehold Improvements
396.63
5.13
22.35
17,264.69
35,893.48
22,438.66
0.03
22,274.40
13,454.82
16.21
4,224.32
20,012.67
18,283.96
1,728.71
36.54
17.39
9.71
115.00
1,554.44
79.16
24.70
1.64
834.29
6,821.05
48.05
878.73
As at
30th June,
2013
21.20
1,292.29
401.59
468.84
469.85
172.92
1,576.39
1,241.09
28,873.38
451.21
4,847.31
22,333.77
95,252.89
127.10 148,845.02
3.93 164,729.76
(31.13)
(31.14)
0.01
35.06 135,856.38
0.31
1.01
7.24
(0.16)
9.99 122,871.18
16.67
Currency
'HGXFWLRQV
Translation
Adjustments
Adjustments
15.59
4.94
Additions
*URVV%ORFN
50,025.92
56,298.23
6,067.51
0.25
4,044.23
494.99
50,230.72
2.17
527.05
219.39
202.66
As at
31st Dec.,
2011
-
9,161.24
13,257.19
2,210.52
0.07
1,522.19
306.56
11,046.67
4.26
41.00
22.15
92.55
262.00
1.17
2,947.77
3,786.18
2,631.17
2,631.17
1,155.01
25.46
2.33
18.67
(0.02)
(0.02)
18.69
0.57
0.45
(0.13)
4.30
Currency
'HGXFWLRQV
Translation
Adjustments
Adjustments
-
56,298.23
65,787.91
5,646.84
0.30
4,425.93
419.06
801.55
60,141.07
7.00
659.90
240.20
223.16
325.60
113.63
1,560.62
54,184.67
275.43
2,538.71
12.15
As at
30th June,
2013
(` in Million)
95,252.89
92,546.79
98,941.85
23,226.54
450.91
421.38
21,914.71
439.54
75,715.31
14.20
632.39
161.39
245.68
144.25
59.29
15.77
68,686.51
558.86
4,282.34
35.90
878.73
As at
30th June,
2013
55,223.46
92,546.79
18,682.30
765.23
619.71
73,864.49
2.51
541.59
177.24
175.50
56.14
37.92
644.01
37.07
As at
31st Dec.,
2011
1HW%ORFN
Notes:
L 3ODQWDQG0DFKLQHU\*URVV%ORFNLQFOXGHVDVVHWVFDSLWDOLVHGXQGHUQDQFHOHDVHRI`0LOOLRQ3UHYLRXV\HDU`0LOOLRQDQGFRUUHVSRQGLQJDFFXPXODWHGGHSUHFLDWLRQRI` 515.55 Million
(Previous year ` 274.24 Million).
LL &RPSXWHU6RIWZDUH*URVV%ORFNLQFOXGHVDVVHWVFDSLWDOLVHGXQGHUQDQFHOHDVHRI` 10.71 Million (Previous year `1LODQGFRUUHVSRQGLQJDFFXPXODWHGGHSUHFLDWLRQRI`0LOOLRQ3UHYLRXV\HDU
` Nil).
LLL 2XWRIWKH'HSUHFLDWLRQIRUWKHSHULRGDQDPRXQWRI` 1.49 Million (Previous year `0LOOLRQLVWUDQVIHUUHGWR3UH2SHUDWLYH([SHQGLWXUH3HQGLQJ$OORFDWLRQ
0.51
For the
period
'HSUHFLDWLRQ$PRUWLVDWLRQ,PSDLUPHQW
Addition on
Acquisition
*URVV%ORFNRI3ODQWDQG0DFKLQHU\LQFOXGHVWKHDPRXQWDGGHGRQUHYDOXDWLRQRQVW$SULODQGVW2FWREHU
55,223.46
Previous year as at
31st Dec., 2011
24,749.81
148,845.02
Total (ii)
Total (i+ii)
3URGXFLQJ3URSHUWLHV
2WKHUV
&RPSXWHU6RIWZDUH
/LFHQVH)HHV
1,114.70
Total (i)
Intangible Assets
124,095.21
2WKHUV
Vehicles
2IFH(TXLSPHQWV
366.67
356.31
Computers
1,576.39
)XUQLWXUHDQG)L[WXUHV
(OHFWULFDO,QVWDOODWLRQ
)XUQDFH
%XLOGLQJ
Addition on
Acquisition
Leasehold Land
As at
31st Dec.,
2011
)UHHKROG/DQG
Tangible Assets
iii) &DSLWDO:RUNLQ3URJUHVV
ii)
i)
Particulars
(` in Million)
12. PRE-OPERATIVE EXPENDITURE
PENDING ALLOCATION
Balance as per last Balance Sheet
Add: Incurred during the period/year
Less: Expenditure apportioned over cost
of Fixed Assets/Capital Work-in
Progress/Capital Advances
/HVV7UDQVIHUWR6WDWHPHQWRI3URWDQG
Loss
Total
As at
30th June,
2013
As at
31st Dec.,
2011
2,165.20
679.69
2,844.89
421.63
832.51
1,489.63
2,322.14
113.10
817.14
43.84
1,606.12
2,165.20
UNQUOTED - Others
In Units of Mutual Funds
In Bonds
In Government or Trust Securities
64.02
,Q&HUWLFDWHRI'HSRVLWV
Total
13,328.80
13,431.77
192.79
459.92
27,299.47
523.94
iv) Others
(a)
17. INVENTORIES
$VWDNHQYDOXHGDQGFHUWLHGE\WKH
Management)
Raw Materials including Consumables,
Stores and Spares
Materials in Transit and in Bonded
Warehouse
Work-in-Process
Finished Goods and Stock in Trade
Drilling and Production Materials
Crude Oil
Sim Card
9,374.13
7,875.13
(b)
9,374.13
7,875.13
(a-b)
17,925.34
(7,351.19)
Total
13.1 The Subsidiary, Videocon Telecommunications Limited (VTL) has
evaluated its future taxable income after it has been awarded the
8QLHG/LFHQVHV$FFHVVVHUYLFHVLQFLUFOHVZLWKHIIHFWIURPWK
February 2013 which are valid for a period of 20 years and also
been allotted 5Mhz spectrum in 1800 Mhz category in each of these
6 circles. The management is of the opinion that there is a virtual
certainty, based on the future business plan, estimated increase
in subscribers base and considering additional capital infusion into
the Company which would restrict further borrowings and related
FRVWVWKDWVXIFLHQWIXWXUHWD[DEOHLQFRPHZLOOEHDYDLODEOHDJDLQVW
which the deferred tax assets can be realized. Accordingly, VTL
has recognized net deferred tax assets of `11,583.48 Million on the
unabsorbed depreciation and business losses.
(` in Million)
14. NON-CURRENT INVESTMENTS
As at
30th June,
2013
As at
31st Dec.,
2011
38.04
176.93
50.84
167.06
1,281.74
1,330.42
530.76
417.53
1,020.38
4,452.67
48.45
0.38
3,908.30
0.54
5,000.00
QUOTED
i) In Equity Shares (Fully paid-up) - Trade
ii) In Equity Shares (Fully paid-up) Others
UNQUOTED
i) In Equity Shares (Fully Paid-up) Trade
ii) In Equity Shares (Fully Paid-up) Others
iii) In Preference Shares (Fully paid-up)
iv) In Debentures/Bonds
v) In Other Investments
SHARE APPLICATION MONEY
PENDING ALLOTMENT
Total
7,548.97
As at
31st Dec.,
2011
15,413.26
1,017.17
128.65
1,766.14
26,828.66
43,530.03
18,935.61
37,260.83
48.52
50.80
433.90
208.11
-
As at
30th June,
2013
13,049.80
468.60
470.38
7.51
2,705.08
Sub-Total
Other Bank Balances
In Dividend Warrant Accounts
In Earmarked Accounts
In Fixed Deposits earmarked towards Site
Restoration
In Fixed Deposits (held as margin money
for credit facilities)
- Maturity 12 months or less
- Maturity more than 12 months
10,875.07
68
99.27
632.49
208.11
13,527.94
13,583.66
2,560.53
2,295.62
994.04
4,172.90
266.22
103.02
32.17
830.39
3,800.85
247.41
60.51
78.97
21,656.82
20,897.41
715.10
316.41
1,031.51
316.41
715.10
28,718.84
251.41
338.40
589.81
338.40
251.41
27,901.70
29,433.94
28,153.11
18.50
0.63
11.63
0.47
2,000.86
430.00
1,632.05
5,267.20
2,449.99
6,911.35
10.44
750.93
624.14
28.53
259.50
279.81
3,761.26
1,407.36
3,053.77
1,722.96
Sub-Total
6,554.13
5,344.57
Total
9,004.12
12,255.92
As at
30th June,
2013
As at
31st Dec.,
2011
937.24
1,480.11
223.08
0.54
1.40
368.58
155,961.73
130,259.68
157,122.59
132,109.77
(` in Million)
Period ended
30th June,
2013
Year ended
31st Dec.,
2011
14,982.65
322.01
371.20
71.66
10,812.77
42.05
26,602.34
783.99
245.42
310.38
54.44
7,587.37
26.16
9,007.76
3,207.91
352.00
3,266.62
986.05
1,145.77
177.13
96.37
190.62
60.48
4.65
17.74
4,830.65
246.71
3,012.58
909.12
1,002.23
532.26
100.39
234.01
502.10
11.34
Total
9,505.34
11,381.39
5,221.09
3,570.74
255.07
181.39
620.47
417.71
1.45
10.71
332.89
515.08
0.09
954.81
943.59
(` in Million)
Period ended
30th June,
2013
Year ended
31st Dec.,
2011
193,752.71
136,692.28
89.75
38.44
396.07
114.35
194,238.53
136,845.07
167,315.57
115,499.16
19,700.64
14,934.64
6,052.26
6,226.25
688.86
32.23
(4.62)
193,752.71
136,692.28
5,175.91
743.09
17.88
98.77
180.38
34.12
160.04
3,675.13
193.46
8,903.04
1,375.74
4,275.92
3,861.36
994.04
830.39
5,269.96
4,691.75
3,861.36
3,777.62
Opening Inventories
Finished Goods and Stock-in-Trade
Work-in-Process
830.39
776.49
Sub-Total
4,691.75
4,554.11
Total
(578.21)
(137.64)
69
232.72
123.12
5,708.88
3,875.25
38,716.00
1,081.22
977.73
15,385.48
178.40
-
40,774.95
15,563.88
1,432.19
2,098.95
686.48
25.11
91.21
225.43
114.46
2,689.14
215.55
7,136.27
386.40
29.07
89.91
2.34
452.46
1.30
44.60
190.53
4.00
860.71
1,442.57
383.25
16.58
63.95
213.60
78.78
1,615.11
125.77
5,725.54
677.63
20.23
50.54
1.40
897.40
127.98
347.66
-
262.39
42.26
1,332.68
179.74
3,813.90
180.76
42.89
819.81
94.73
-
5,314.66
2,088.70
28,949.73
3,013.23
1,132.59
17,932.71
Period ended
30th June, 2013
Year ended
31st Dec., 2011
(28,261.19)
(13,637.66)
ii) Weighted Average Number of Equity Shares considered for calculation of Basic EPS
Weighted Average Number of Equity Shares considered for calculation of Diluted EPS
32.38
39.25
(28,293.57)
(13,676.91)
314,683,004
302,308,789
314,683,004
302,308,789
(89.91)
(45.24)
(89.91)
(45.24)
Gratuity
30th June, 31st Dec., 2011
2013
(` in Million)
Leave Encashment
30th June, 31st Dec., 2011
2013
I)
70
253.24
55.34
(197.90)
193.01
54.74
(138.27)
67.87
(67.87)
67.36
(67.36)
(161.62)
(36.28)
(106.36)
(31.91)
(58.27)
(9.60)
(49.52)
(17.84)
70.06
26.07
19.48
7.52
108.09
37.87
12.47
14.31
4.31
60.34
26.52
7.62
21.39
0.01
55.54
18.61
4.96
11.59
35.16
193.01
157.78
67.36
64.34
70.06
26.07
19.48
55.38
253.24
37.87
12.47
14.31
29.42
193.01
26.52
7.62
21.39
0.01
55.03
67.87
18.61
4.96
11.59
32.14
67.36
54.74
8.36
15.28
55.34
7.52
50.05
8.57
8.19
54.74
4.31
8% per annum
LIC (1994-96) Ultimate
5% at younger ages reducing to 1% at older ages
5% per annum
As at
30th June, 2013
As at
31st Dec., 2011
591.20
29,693.72
A) Commitments
Estimated amount of contract remaining to be executed on capital account
and not provided for (net of advances)
B) Contingent Liabilities not provided for:
i) Letters of Guarantees
39,315.56
49,655.61
21,668.51
29,921.44
502.46
447.02
3,149.41
494.74
c) Excise Duty and Service Tax demands and penalties under dispute
1,034.95
610.88
1,131.51
919.84
4,966.95
1,062.64
[Amount paid under protest ` 30.86 Million (Previous year ` 4.21 Million)]
d) Sales Tax demands under dispute
[Amount paid under protest ` 377.09 Million (Previous year ` 360.08 Million)]
e) Others
[Amount paid under protest ` 50.00 Million (Previous year ` 50.00 Million)]
f) Show Cause Notices (SCNs) have been served on the Operator of the Ravva Oil & Gas Field Joint Venture (Ravva JV) for non payment of
Service Tax and Educational Cess on various services for the period July 2003 to 31st March, 2012. The amount involved relating to Ravva
Block is ` 418.88 Million (Previous year ` 412.56 Million).
7KH2SHUDWRULVFRQWHVWLQJWKH6&1VGHPDQGVEHIRUH&RPPLVVLRQHURI6HUYLFH7D[DQGKDVOHGDSSHDOEHIRUH&(67$7%DQJDORUHDQGDOVR
writ petition before Honble High Court of Madras challenging service tax demands on some of the services and believes that its position is
likely to be upheld. The ultimate outcome of the matter cannot be presently determined and no provision for any liability that may result has
EHHQPDGHLQWKHDFFRXQWVDVWKHVDPHLVVXEMHFWWRDJUHHPHQWE\WKHPHPEHUVRIWKH-RLQW9HQWXUH6KRXOGLWXOWLPDWHO\EHFRPHSD\DEOHWKH
Companys share as per the participating interest would be upto ` 104.72 Million (Previous year ` 103.14 Million).
g) Disputed Income Tax demand amounting to ` 22.29 Million (Previous year ` 22.29 Million) in respect of certain payments made by Ravva Oil &
Gas Field Joint Venture is currently pending before the Honble High Court of Madras. The ultimate outcome of the matter cannot presently be
GHWHUPLQHGDQGQRSURYLVLRQIRUDQ\OLDELOLW\WKDWPD\UHVXOWKDVEHHQPDGHDVWKHVDPHLVVXEMHFWWRDJUHHPHQWE\WKHPHPEHUVRIWKH-RLQW
Venture. Should it ultimately become payable, the Companys share as per the participating interest would be upto ` 5.57 Million (Previous
year ` 5.57 Million).
34. There wHUHFHUWDLQGLVSXWHVZLWKWKH*RYHUQPHQWRI,QGLD*2,ZLWKUHVSHFWWRWKH3URGXFWLRQ6KDULQJ&RQWUDFWGDWHGWK2FWREHU5DYYD36&
pertaining to Ravva Oil & Gas Field which were referred to international arbitration for resolution. The Arbitral Tribunal has issued a Partial Award and is still
VHL]HGRIWKHPDWWHUDQGLV\HWWRLVVXHD)LQDO$ZDUGRWKHUWKDQIRUWKHGLVSXWHUHODWLQJWR%DVH'HYHORSPHQW&RVWV%'&IRUZKLFKDQDODZDUGZDVLVVXHG
on 18th January, 2011 substantially in favour of the Company. Issue relating to deductibility of ONGC Carry Costs arising out of the Partial Award was appealed
E\WKH*2,EHIRUHWKH0DOD\VLDQ$SSHOODWH$XWKRULWLHVZKLFKKDVVLQFHEHHQUHMHFWHGRQJURXQGVinter-aliaRIMXULVGLFWLRQDQGPDLQWDLQDELOLW\E\VXFKDXWKRULWLHV
DQGLVQRZEHIRUHWKHQDODSSHOODWHDXWKRULW\LHWKH)HGHUDO&RXUWRI0DOD\VLD,VVXHUHODWLQJWRGHGXFWLELOLW\RIWKH%'&ZDVDSSHDOHGE\WKH*2,EHIRUHWKH
0DOD\VLDQ$SSHOODWH$XWKRULW\ZKLFKKDVVLQFHEHHQUHMHFWHGE\VXFKDXWKRULW\DQGLVQRZEHIRUHWKH&RXUWRI$SSHDODW0DOD\VLD3HQGLQJQDOUHVROXWLRQRIWKH
disputes, certain amounts have been short paid by GOI Nominees which have been disputed by the Company and the Company is seeking refund of amounts
excessively deducted. Based on legal advice, the Company believes its contentions will be upheld. Any further sum required to be paid or returnable in respect
of such disputes in accordance with the determination of the amount by the Honble Arbitral Tribunal/relevant courts in this regard shall be accounted for on the
QDORXWFRPHLQWKRVHPDWWHUV
35. 9LGHRFRQ7HOHFRPPXQLFDWLRQV /LPLWHG 97/ D VXEVLGLDU\ KDG EHHQ DZDUGHG OLFHQVHV E\ WKH 'HSDUWPHQW RI7HOHFRPPXQLFDWLRQV 'R7 WR SURYLGH
8QLHG$FFHVV6HUYLFHV8$6LQWHOHFRPFLUFOHVLQ,QGLDZLWKHIIHFWIURPWK-DQXDU\ZKLFKZHUHYDOLGIRUDSHULRGRI\HDUV97/KDGDOVR
been allocated spectrum in 20 circles and had launched its commercial operations in 17 circles.
36. The DoT had issued demand notices for Liquidated Damages aggregating to ` 534.50 Million for 20 out of the 21 circles (all the circles except Delhi)
DOORWWHGWR97/RQDFFRXQWRIGHOD\LQPHHWLQJUROORXWREOLJDWLRQVDVVWLSXODWHGLQWKH8QLHG$FFHVV6HUYLFH/LFHQVH8$6/VLQFHTXDVKHGYLGH
MXGJHPHQWGDWHGQG)HEUXDU\RI+RQEOH6XSUHPH&RXUW$JDLQVWWKHVHGHPDQGQRWLFHV97/KDVSDLGDWRWDOVXPRI` 419.30 Million of which it
has charged `0LOOLRQWRWKH6WDWHPHQWRI3URWDQG/RVVIRUWKH\HDUHQGHGVW'HFHPEHUDQGWKHUHPDLQLQJDPRXQWRI` 249.80 Million
KDVEHHQVKRZQXQGHU/RDQVDQG$GYDQFHVDVWKHVDPHDUHGLVSXWHGDQGSDLGXQGHUSURWHVW
71
B.
E 7KH7'6$7KDVSDVVHGDQRUGHUDQGMXGJPHQWRQWK-DQXDU\
2012 whereby it has set aside the demands of DoT in respect of
10 circles and directed DoT to give opportunity to the licensee
before raising these fresh demands for liquidated damages. The
+RQEOH 7'6$7 YLGH LWV VDLG MXGJPHQW KDV DOVR GLUHFWHG 'R7 WR
refund the amount of ` 242.30 Million paid by VTL as liquidated
damages in respect of 10 circles along with 12% interest and VTL
has been directed to deposit bank guarantees for the amount of
liquidated damages originally demanded. The order of the TDSAT
dated 13th January, 2012 has been challenged by the DoT before
the Honble Supreme Court and by an order dated 23rd November,
2012 the Honble Supreme Court has admitted the appeal and has
passed an interim order staying the interest payable on the principal
DPRXQWLQWHUPVRIWKHRUGHUDQGMXGJHPHQWGDWHGWK-DQXDU\
2012 passed by TDSAT.
c)
b)
c)
7KHQDOGHPDQGVSD\DEOHE\97/LIDQ\LVWKHUHIRUHXQDVFHUWDLQDEOH
d)
7KH )LQDQFLDO 6WDWHPHQWV UHHFW WKH VKDUH RI WKH *URXS LQ WKH
assets and the liabilities as well as the income and the expenditure
of Joint Venture Operations on a line-by-line basis. The Group
incorporates its share in the operations of the Joint Venture based
on statements of account received from the Operator. The Group
KDVLQWHUPVRI6LJQLFDQW$FFRXQWLQJ3ROLF\1R(UHFRJQLVHG
abandonment costs based on the technical assessment of current
costs as cost of producing properties and has provided Depletion
WKHUHRQ XQGHU 8QLW RI 3URGXFWLRQ PHWKRG DV SDUW RI 3URGXFLQJ
Properties in line with the Guidance Note on Accounting of Oil
and Gas Producing Activities issued by the Institute of Chartered
Accountants of India.
72
C.
7KHUVWH[SORUDWLRQZHOOZDVWDNHQXSE\WKH-9DW%DUUD
LQ%ORFN6($/0UHVXOWLQJLQDGLVFRYHU\QRWLHGRQ
27th October, 2010.
ii)
73
net oil pay (44 degree API) in Paleocene and 3.8 metres
of net gas pay in Campanian. Fluid samples were taken
from respective intervals.
LLL 3RWLJXDU &RQFHVVLRQ 7KH UVW SKDVH RI H[SORUDWLRQ LQ
Potiguar Concession located in the North-eastern region
of Brazil, has been extended with a commitment to drill
exploration well in Block POT-M-760. VEBL has 10%
participating interest in the Potiguar Concession.
a)
i)
Associates:
5HTXHLMDR:HOOGULOOHGLQ(60%ORFNZDVFRPSOHWHG
on 2nd September, 2012 which encountered thin oil zones
in the target Aptian sands and in fractured basement. ES-9DUHLQGLVFXVVLRQZLWK$13DERXWDMRLQW(YDOXDWLRQ
3ODQZLWKWKHDGMRLQLQJ%ORFNLQ(6&RQFHVVLRQ
ii)
iv)
b)
7KH QDQFLDO LQWHUHVW RI WKH *URXS LQ WKH MRLQWO\ FRQWUROOHG
LQFRUSRUDWHG HQWLWLHV EDVHG RQ QDQFLDO VWDWHPHQW UHFHLYHG
from these Joint Venture entities are as under:
(` in Million)
Group's share in
Assets
Liabilities
Income
Expenses
Tax
D.
List of Related Parties where control exists and related parties with
whom transactions have taken place and relationship:
0U$EKLMLW.RWQLV9LFH3UHVLGHQW
Particulars
Nature of Transactions
Reimbursement of Expenses
Associates
9.63
(90.42)
0.04
(5.90)
368.08
(-)
Remuneration
(` in Million)
Key
Management
Personnel
145.27
(53.49)
0.54
(368.58)
0.03
(0.05)
74
44. a)
i)
ii)
(` in Million)
b)
Acquisitions/Incorporations
Videocon Mauritius Energy
Limited
Indigo Energy Private Limited
Percept Energy Private
Limited
Disposals/Cessation
Eagle E Corp Limited
Oil Services International
S.A.S
Emerald Copoprate Ventures
Limited (formerly Videocon
Energy Ventures Limited)
Mercury Corporate Ventures
Limited (formerly Videocon
Oman 56 Limited)
Effect on
Consolidated
3URW/RVV
Net Assets
As at
30th June,
2013
(6,390.99)
(7,023.52)
(` in Million)
a)
b)
c)
d)
e)
As at
30th June,
2013
(0.21)
(1.52)
(0.08)
0.34
(1,047.08)
-
(0.09)
9.75
0.13
(0.16)
b)
Particulars
Operating Lease:
Period ended
30th June,
2013
632.15
(` in Million)
Year ended
31st Dec.,
2011
638.51
653.24
632.15
602.89
29.26
602.82
35.69
653.24
632.15
As at
31st Dec.,
2011
137.60
73.77
549.11
404.01
269.59
397.52
Total
956.30
875.30
47.
Segment Information:
7KH&RPSDQ\DQGLWVVXEVLGLDULHVKDYHLGHQWLHGIRXUUHSRUWDEOHVHJPHQWVYL]&RQVXPHU(OHFWURQLFVDQG+RPH$SSOLDQFHV&UXGH2LODQG1DWXUDO*DV
7HOHFRPPXQLFDWLRQVDQG3RZHU6HJPHQWVKDYHEHHQLGHQWLHGDQGUHSRUWHGWDNLQJLQWRDFFRXQWQDWXUHRISURGXFWVDQGVHUYLFHVWKHGLIIHULQJULVNVDQG
return.
D
6HJPHQW UHYHQXH DQG H[SHQVHV LQFOXGH WKH UHVSHFWLYH DPRXQWV LGHQWLDEOH WR HDFK RI WKH VHJPHQWV RQ WKH EDVLV RI UHODWLRQVKLS WR RSHUDWLQJ
activities of the segment as also amounts allocated on a reasonable basis. Revenue and expenses which relate to enterprise as a whole and are
QRWDOORFDEOHWRDVHJPHQWRQUHDVRQDEOHEDVLVKDYHEHHQGLVFORVHGDV8QDOORFDEOH
b)
Segment assets and segment liabilities represent assets and liabilities in respective segments. Investments, tax related assets and other corporate
DVVHWVDQGOLDELOLWLHVWKDWFDQQRWEHDOORFDWHGEHWZHHQWKHVHJPHQWDUHGLVFORVHGDV8QDOORFDEOH
c)
Particulars
Consumer Electronics
Crude Oil and
Telecommunications
Power
Others
Total
and Home Appliances
Natural Gas
Period
Year
Period
Year
Period
Year
Period
Year
Period
Year
Period
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
30.06.2013 31.12.2011 30.06.2013 31.12.2011 30.06.2013 31.12.2011 30.06.2013 31.12.2011 30.06.2013 31.12.2011 30.06.2013 31.12.2011
i) Segment Revenue
- External
167,800.19 115,651.15
- Inter Segment
Total Segment
167,800.19 115,651.15
ii) Segment Result before Interest 16,143.89 12,313.78
Less: Finance Costs
Add: Other Unallocable Income/
(Expenses)
19,700.64
19,700.64
(7,626.35)
-
14,934.64
6,053.46
6,227.05
14,934.64
6,053.46
6,227.05
4,771.93 (15,190.67) (12,393.32)
-
75
688.86
688.86
367.03
-
32.23
32.23
(25.14)
-
(4.62)
(4.62)
(610.22)
-
- 194,238.53 136,845.07
- 194,238.53 136,845.07
(5.01) (6,916.32)
4,662.24
- 40,774.95 15,563.88
4,654.70
(826.47)
Particulars
Consumer Electronics
Crude Oil and
Telecommunications
Power
Others
Total
and Home Appliances
Natural Gas
Period
Year
Period
Year
Period
Year
Period
Year
Period
Year
Period
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
30.06.2013 31.12.2011 30.06.2013 31.12.2011 30.06.2013 31.12.2011 30.06.2013 31.12.2011 30.06.2013 31.12.2011 30.06.2013 31.12.2011
- (43,036.57) (11,728.11)
(5.09)
(0.19)
-
(1,032.21)
49.74
- (12,005.08)
1,964.31
- (32,068.79) (13,642.87)
3,807.60
5.21
- (28,261.19) (13,637.66)
Telecommunications
Power
Others/Unallocable
Total
Particulars
Period
Year.
Period
Year
Period
Year
Period
Year
Period
Year
Period
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
30.06.2013 31.12.2011 30.06.2013 31.12.2011 30.06.2013 31.12.2011 30.06.2013 31.12.2011 30.06.2013 31.12.2011 30.06.2013 31.12.2011
Segment Assets
69,550.51
62,543.63
52,020.73
12,603.40
16,516.86 111,089.21
Segment Liabilities
101,390.85
65,573.63
48,551.49
65,329.78
7,376.32
11,034.44 141,644.86
Capital Expenditure
11,912.73
9,280.52
45,664.53
20,790.19
18,467.28
1,934.48
(507.10)
5,963.64
385.47
109.34
75,922.91
38,078.17
7,526.87
5,244.73
599.83
795.49
4,709.84
3,015.73
280.55
32.97
138.61
71.83
13,255.70
9,160.75
Depreciation
d)
97,156.88 148,589.00
48.
Period ended
30.06.2013
Outside India
Year ended
31.12.2011
Period ended
30.06.2013
Total
Year ended
31.12.2011
Period ended
30.06.2013
Year ended
31.12.2011
187,780.60
131,112.77
6,457.93
5,732.30
194,238.53
136,845.07
Segment Assets
354,449.24
311,973.89
140,240.26
80,743.28
494,689.50
392,717.17
Segment Liabilities
318,224.10
250,737.41
129,328.42
69,189.97
447,552.52
319,927.38
Capital Expenditure
30,426.21
17,886.80
45,496.70
20,191.37
75,922.91
38,078.17
SHIVRATAN AGARWAL
Partner
Membership No. 104180
U. S. KADAM
Partner
Membership No. 31055
V. N. DHOOT
Chairman and Managing Director
Place : Mumbai
Date : 29th November, 2013
76
S. PADMANABHAN
Director
77
INR Mn
INR Mn
INR Mn
INR Mn
US$
US$
US$
US$
US$
US$
3URFLHQW(QHUJ\3ULYDWH
Limited
Chhattisgarh Power
Ventures Private Limited
Videocon Mozambique
Rovuma 1 Limited
Videocon Indonesia
Nunukan Inc.
10
11
12
13
14
15
16
0.60
INR Mn
0.06
INR Mn
0.06
INR Mn
0.000
INR Mn
0.06
0.001
INR Mn
USD Mn
0.000
USD Mn
59.94
0.001
USD Mn
59.94
0.001
USD Mn
59.94
0.01
USD Mn
59.94
0.001
USD Mn
59.94
0.06
INR Mn
0.10
0.10
1,000.00
0.10
0.10
0.10
207.32
0.10
0.10
Capital
5,500.00
59.94
Exchange
Rate
INR Mn
INR Mn
INR Mn
INR Mn
INR Mn
INR Mn
Amount in
Reporting
Currency
Sr.
No.
Share
Application
Money
Received
(117.18)
(7,023.58)
(0.07)
(4.37)
(0.10)
(6.16)
(4.37)
(261.98)
(0.84)
(50.24)
(5.80)
(347.71)
(7.15)
(0.08)
(0.08)
(7.19)
(5.06)
(3.88)
23.60
(32.13)
(1.63)
(0.30)
Reserves
2,594.56
155,518.45
0.03
1.49
52.32
3,136.15
842.28
50,486.10
452.66
27,132.83
101.93
6,109.56
7,078.16
1,509.66
417.73
993.42
297.31
230.99
762.84
791.41
0.10
0.10
Total Assets
2,711.74
162,541.97
0.10
5.86
52.42
3,142.25
846.65
50,748.02
453.49
27,182.47
107.73
6,457.21
1,585.31
1,509.64
417.71
0.61
302.27
234.77
739.14
616.22
1.63
0.30
Total
Liabilities
0.03
54.77
Investment
(Other than
Investments
in
Subsidiaries)
22.31
1,337.29
0.000
0.001
0.17
10.42
0.13
0.07
0.08
0.03
197.39
263.20
Turnover/
Total Income
(117.15)
(7,021.94)
(0.06)
(3.48)
(0.08)
(4.77)
(0.11)
(6.60)
(0.53)
(31.70)
0.12
6.94
(0.68)
(0.04)
(0.06)
(0.05)
(22.26)
(12.04)
38.39
(37.03)
(0.02)
(0.30)
0.001
(0.01)
(5.60)
(2.53)
14.76
0.15
(117.15)
(7,021.93)
(0.06)
(3.48)
(0.08)
(4.77)
(0.11)
(6.60)
(0.53)
(31.70)
0.12
6.94
(0.68)
(0.04)
(0.05)
(0.05)
(16.66)
(9.51)
23.63
(37.18)
(0.02)
(0.30)
3URWDIWHU
Tax
Proposed
Dividend
Mauritius
Cayman
Island
Cayman
Island
British Virgin
Island
British Virgin
Island
Cayman
Island
India
India
India
India
- India
- India
- India
- India
- India
- India
Country
The Ministry of Corporate Affairs, Government of India, vide General Circular No. 2 and 3 dated 8th February, 2011 and 21st February, 2011, respectively has granted a general exemption from
?KILHE=J?ASEPDOA?PEKJKBPDA KIL=JEAO?P
OQ>FA?PPKBQHHHIAJPKB?KJ@EPEKJOOPELQH=PA@EJPDA?EN?QH=N1DA KIL=JUD=OO=PEOA@PDA?KJ@EPEKJOOPELQH=PA@EJPDA?EN?QH=N=J@
hence is entitled to the exemption. Necessary information relating to the subsidiaries has been included in the Consolidated Financial Statements.
RO
CNY
Videocon Electronic
(Shenzen) Limited (Chinese
Name- Wei You Kang
Electronic (Shenzen)
Co Ltd)
18
19
20
21
22
78
US$
Videocon International
Electronics Limited
Videocon
Telecommunications Limited
Datacom
Telecommunications Private
Limited
23
24
25
26
27
28
29
US$
US$
US$
Reporting
Currency
Videocon Hydrocarbon
Holdings Limited
17
Sr.
No.
0.06
INR Mn
INR Mn
INR Mn
INR Mn
INR Mn
INR Mn
3,593.50
0.50
54,337.50
10.00
1,000.00
30,000.00
0.001
INR Mn
USD Mn
0.03
USD Mn
59.94
1.50
INR Mn
8.93
0.92
59.94
9.71028
CNY Mn
INR Mn
2.25
351.45
INR Mn
RO Mn
0.80
USD Mn
156.08
48.10
INR Mn
203.00
12,167.82
Capital
1,000.00
59.94
59.94
Exchange
Rate
INR Mn
USD Mn
INR Mn
Amount in
4.15
647.89
68.00
4,075.92
Share
Application
Money
Received
(444.44)
(0.44)
(40,344.93)
(3.09)
1,221.92
(6,096.16)
(0.02)
(1.14)
(0.02)
(1.02)
(3.07)
(29.80)
(5.16)
(805.34)
1.09
65.42
(3,588.88)
1,863.44
111,694.81
Reserves
3,258.15
1.93
62,544.02
1,386.34
6,246.29
58,011.85
0.001
0.06
0.03
1.50
3.37
32.77
1.26
196.75
71.13
4,263.60
12,971.52
4,331.40
259,624.22
Total Assets
109.09
1.87
48,551.45
1,379.43
4,024.37
34,108.01
0.02
1.14
0.02
1.02
5.52
53.64
0.02
2.75
69.24
4,150.08
15,560.40
2,196.96
131,685.67
Total
Liabilities
2,228.34
0.02
2,758.30
Investment
(Other than
Investments
in
Subsidiaries)
209.08
1.20
6,057.57
0.22
0.22
0.22
3.44
33.37
0.31
48.71
6.91
414.40
0.59
2,391.59
143,352.04
Turnover/
Total Income
(396.59)
(0.17)
(23,619.58)
(0.07)
(0.17)
(4,997.18)
(0.01)
(0.81)
(0.01)
(0.81)
(2.85)
(27.68)
(0.004)
(0.63)
(2.88)
(172.70)
(3,523.57)
2,090.43
125,300.42
(11,583.44)
0.05
0.39
224.09
13,431.77
(396.59)
(0.17)
(12,036.14)
(0.12)
(0.56)
(4,997.18)
(0.01)
(0.81)
(0.01)
(0.81)
(2.85)
(27.68)
(0.004)
(0.63)
(2.88)
(172.70)
(3,523.57)
1,866.34
111,868.65
3URWDIWHU
Tax
Proposed
Dividend
India
India
India
India
India
India
Mauritius
Mauritius
China
Sultanate of
Oman
British Virgin
Island
India
Cayman
Island
Country
ATTENDANCE SLIP
VIDEOCON INDUSTRIES LIMITED
5HJG2IFH14 K.M. Stone, Aurangabad - Paithan Road, Village: Chittegaon, Taluka: Paithan,
Dist.: Aurangabad - 431 105 (Maharashtra)
PLEASE FILL ATTENDANCE SLIP AND HAND IT OVER AT THE ENTRANCE OF THE MEETING HALL.
Joint Shareholders may obtain additional slip on request.
DP ID*
Registered Folio No.
Client ID*
NAME AND ADDRESS OF THE SHAREHOLDER ______________________________________________________
_______________________________________________________________________________________________
No. Share(s) Held:________________________________
I hereby record my presence at the TWENTY- FOURTH ANNUAL GENERAL MEETING of the Company to be held on
6DWXUGD\WK'HFHPEHUDWDPDWWKH5HJLVWHUHGRIFHRIWKH&RPSDQ\DW.06WRQH$XUDQJDEDG
Paithan Road, Village: Chittegaon, Taluka: Paithan, Dist.: Aurangabad-431 105 (Maharashtra).
Signature of the Shareholder/Proxy_______________________________
*Applicable for investors holding shares in electronic form
TERE HERE
PROXY FORM
VIDEOCON INDUSTRIES LIMITED
5HJG2IFH14 K.M. Stone, Aurangabad - Paithan Road, Village: Chittegaon, Taluka: Paithan,
Dist.: Aurangabad - 431 105 (Maharashtra)
DP ID*
Registered Folio No.
Client ID*
I/We____________________________________________________________________________________________ of
_______________________________________________________________________ being a member/members of
Videocon Industries Limited hereby appoint ________________________________ of ___________________________
or failing him______________________________________ as my/our proxy to vote for me/us and on my/our behalf at
the TWENTY- FOURTH ANNUAL GENERAL MEETING of the Company to be held on Saturday, 28th December, 2013,
DWDPDWWKH5HJLVWHUHGRIFHRIWKH&RPSDQ\DW.06WRQH$XUDQJDEDG3DLWKDQ5RDG9LOODJH&KLWWHJDRQ
7DOXND3DLWKDQ'LVW$XUDQJDEDG0DKDUDVKWUDDWDQ\DGMRXUQPHQWVWKHUHRI
Signed on this______________________________ day of ___________________2013
Signature _________________________________
No. of Shares held__________________________
$I[
Revenue
Stamp of
` 1/-
BOOK-POST