Annual Report 2017 PDF

SHRI BADRINARAIN ALLOYS & STEEL LTD.
Standalone Financial Statements for period 01/04/2016 to 31/03/2017
[400100] Disclosure of general information about company

Unless otherwise specified, all monetary values are in INR
01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Corporate identity number L27100WB1983PLC035650
Permanent account number of entity AAECS2878K
6/2, MOIRA STREET,
HALWASIYA MANSION, 4TH
Address of registered office of company FLOOR, KOLKATA, West
Bengal, 700017, India,
Commercial and
Type of industry Industrial
Registration date 06/01/1983
Company limited by
Category/sub-category of company shares/Indian Non Govt
Company
Whether company is listed company Yes
Date of board meeting when final accounts were approved 29/05/2017
Period covered by financial statements 12 Months 12 Months
Date of start of reporting period 01/04/2016 01/04/2015
Date of end of reporting period 31/03/2017 31/03/2016
Nature of report standalone consolidated Standalone
Content of report Financial Statements
Description of presentation currency INR
Level of rounding used in financial statements Actual
Type of cash flow statement Indirect Method
Disclosure web link of company at which annual report is placed www.sbaslindia.com
Date from which register of members remained closed 20/12/2017
Date till which register of members remained closed 26/12/2017
Maheswari Datamatics
Name of registrar and transfer agent Pvt. Ltd
23, R . N Mukherjee Road,
Address and contact details of registrar and transfer agent 5th Floor,
Kolkata-700017
Whether company is maintaining books of account and other
No
relevant books and papers in electronic form
Whether books of account and other books and papers are maintained
No
on cloud
Total number of product or service category 2
Description of principal product or services category TMT BAR & BILLET
SHRI BADRINARAIN ALLOYS & STEEL LTD. Standalone Financial Statements for period 01/04/2016 to 31/03/2017
Disclosure of principal product or services [Table] ..(1)

Types of
principal product BARSANDRODSHOTROLLEDINIRREGULARLYWOUNDCOILSOFIRONORNONALLOYSTEEL SEMIFINISHEDPRODUCTSOFIRONORNONALLOY
or services [Axis]
01/04/2016 01/04/2016
to to
31/03/2017 31/03/2017
Disclosure of
general
information
about company
[Abstract]
Disclosure of
principal product
or services
[Abstract]
Disclosure of
principal product
or services
[LineItems]
Product or
service category
7214 7207
(ITC 4 digit)
code
Description
of product or TMT MILD STEEL (M.S.) BILLETS
service category
Turnover
of product or 305,24,53,120
service category
Highest
turnover
contributing
72141090 72071920
product or
service (ITC 8
digit) code
Description
of product or TMT MILD STEEL (M.S.) BILLETS
service
Unit of
measurement of
highest
MT MT
contributing
product or
service
Turnover
of highest
contributing 305,24,53,120
product or
service
Quantity of
highest
contributing 14,015.12
product or
service in UoM
2
[400400] Disclosures - Directors report
Details of shareholding pattern of top 10 shareholders [Table] ..(1)

Top 1 shareholder Top 2 shareholder Top 3 shareholder Top 4 shareholder
Name of top 10 shareholder [Axis]
[Member] [Member] [Member] [Member]
Shareholding at Shareholding at Shareholding at Shareholding at
Change in shareholding [Axis] beginning of year beginning of year beginning of year beginning of year
01/04/2016 01/04/2016 01/04/2016 01/04/2016
to to to to
31/03/2017 31/03/2017 31/03/2017 31/03/2017
Total number of shares held at end of period [shares] 5,00,000 [shares] 14,81,000 [shares] 6,50,000 [shares] 4,00,000
Percentage of total shares held at end of period 4.00% 11.00% 5.00% 3.00%
Increase decrease in shareholding during year [shares] 0 [shares] 0 [shares] 0 [shares] 0
Percentage increase decrease in
0.00% 0.00% 0.00% 0.00%
shareholding during year
Percentage of total shares held at end of
4.00% 11.00% 5.00% 3.00%
period
Details of shareholding pattern of top 10
shareholders [Abstract]
shareholders [LineItems]
EXCEL STEELS
ARISTOCRAT LAXMI CORES D A F F O D I L (UNIT OF
Name of shareholder MERCHANDISE MANUFACTURING MERCHANDISE BADRINATH
PVT. LTD. PVT. LTD. PVT. LTD. INDUSTRIES
LTD.)
Percentage increase decrease in shareholding
0.00% 0.00% 0.00% 0.00%
during year
Details of increase (decrease) in top 10
NO CHANGE NO CHANGE NO CHANGE NO CHANGE
shareholders during year [TextBlock]
0.00% 0.00% 0.00% 0.00%
4.00% 11.00% 5.00% 3.00%
period
3

Top 5 shareholder Top 6 shareholder Top 7 shareholder Top 8 shareholder
Shareholding at Shareholding at Shareholding at Shareholding at
Change in shareholding [Axis] beginning of year beginning of year beginning of year beginning of year
01/04/2016 01/04/2016 01/04/2016 01/04/2016
to to to to
31/03/2017 31/03/2017 31/03/2017 31/03/2017
0.00% 0.00% 0.00% 0.00%
2.00% 4.00% 3.00% 7.00%
period
shareholders [Abstract]
shareholders [LineItems]
GLORIOUS I S I S
GANAPATI STEEL KUMAR
Name of shareholder INDUSTRIES
DEALCOMM PVT. MERCANTILES
BROTHERS
LTD. PVT. LTD.
Percentage increase decrease in shareholding
0.00% 0.00% 0.00% 0.00%
during year
Details of increase (decrease) in top 10
NO CHANGE NO CHANGE NO CHANGE NO CHANGE
shareholders during year [TextBlock]
0.00% 0.00% 0.00% 0.00%
2.00% 4.00% 3.00% 7.00%
period
4

Top 9 shareholder Top 10 shareholder
[Member] [Member]
Shareholding at Shareholding at
Change in shareholding [Axis] beginning of year beginning of year
[Member] [Member]
01/04/2016 01/04/2016
to to
31/03/2017 31/03/2017
Total number of shares held at end of period [shares] 3,48,000 [shares] 3,10,000
Percentage of total shares held at end of period 3.00% 2.00%
Increase decrease in shareholding during year [shares] 0 [shares] 0
Percentage increase decrease in shareholding during year 0.00%
Details of shareholding pattern of top 10 shareholders [Abstract]
Details of shareholding pattern of top 10 shareholders [LineItems]
MOUDA SHOSHANNA
Name of shareholder TRADECON PVT. MERCANTILES
LTD. PVT. LTD.
Details of increase (decrease) in top 10 shareholders during year [TextBlock] NO CHANGE NO CHANGE

Details of principal business activities contributing 10% or more of total turnover of company [Table] ..(1)
Product/service 1
Principal business activities of company [Axis]
[Member]
01/04/2016
to
31/03/2017
Details of principal business activities contributing 10% or more of total turnover of company [Abstract]
Details of principal business activities contributing 10% or more of total turnover of company
[LineItems]
Manufacture of basic
Name of main product/service iron and steel
Manufacture of basic
Description of main product/service iron and steel
NIC code of product/service 271
Percentage to total turnover of company 100.00%
5
Details regarding company secretary qualification or observation or other remarks in secretarial audit report [Table] ..(1)
Company secretary qualification or observation or other remarks in secretarial audit report [Axis] QUALIFICATION
01/04/2016
to
31/03/2017
Details regarding company secretary qualification or observation or other remarks in secretarial audit
report [Abstract]
Details regarding company secretary qualification or observation or other remarks in secretarial audit
report [LineItems]
constitution of
Nomination and
Remuneration
Committee is not
constituted as per the
Company secretary qualification or observation or other remarks in secretarial audit report SEBI (Listing
Obligation &
Disclosure
Requirements)
Regulation, 2015
The board is in the
process of
Directors' comment on company secretary qualification or observation or other remarks in secretarial
Appointment of
audit report Non-Executive
Director.
Details of shareholding pattern [Table] ..(1)

Shareholding pattern [Axis] Shareholders [Member] Promoters [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
Details of shareholding pattern [Abstract]
Details of shareholding pattern [LineItems]
Number of demat shares held at end of period [shares] 54,34,415 [shares] 54,34,415 [shares] 39,43,290 [shares] 39,43,290
Number of physical shares held end of period [shares] 77,40,035 [shares] 77,40,035 [shares] 0 [shares] 0
Total number of shares held at end of period [shares] 1,31,74,450 [shares] 1,31,74,450 [shares] 39,43,290 [shares] 39,43,290
Percentage of change in shares held during year 0.00% 0.00%
100.00% 100.00% 30.00% 30.00%
period
100.00% 100.00% 30.00% 30.00%
period
6

Shareholding pattern [Axis] Indian [Member] Individual/HUF [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
Number of physical shares held end of period [shares] 0 [shares] 0 [shares] 0 [shares] 0
30.00% 30.00% 6.00% 6.00%
period
30.00% 30.00% 6.00% 6.00%
period

Shareholding pattern [Axis] Corporate bodies [Member] Public shareholding [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
Number of physical shares held end of period [shares] 0 [shares] 0 [shares] 77,40,035 [shares] 77,40,035
24.00% 24.00% 70.00% 70.00%
period
24.00% 24.00% 70.00% 70.00%
period
7

Non institutions corporate bodies
Shareholding pattern [Axis] Non institutions [Member]
[Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
Number of physical shares held end of period [shares] 77,40,035 [shares] 77,40,035 [shares] 75,82,260 [shares] 75,82,260
70.00% 70.00% 69.00% 69.00%
period
70.00% 70.00% 69.00% 69.00%
period

Shareholding pattern [Axis] Indian corporate bodies [Member] Individuals [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
Number of demat shares held at end of period [shares] 14,82,000 [shares] 14,82,000 [shares] 9,125 [shares] 9,125
Number of physical shares held end of period [shares] 75,82,260 [shares] 75,82,260 [shares] 1,57,775 [shares] 1,57,775
69.00% 69.00% 1.00% 1.00%
period
69.00% 69.00% 1.00% 1.00%
period
8

Individual shareholders holding nominal Individual shareholders holding nominal
Shareholding pattern [Axis] share capital upto rupees one lakh share capital in excess of rupees one lakh
[Member] [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
Number of demat shares held at end of period [shares] 9,125 [shares] 9,125 [shares] 0 [shares] 0
Number of physical shares held end of period [shares] 23,425 [shares] 23,425 [shares] 1,34,350 [shares] 1,34,350
Total number of shares held at end of period [shares] 32,550 [shares] 32,550 [shares] 1,34,350 [shares] 1,34,350
0.00% 0.00% 1.00% 1.00%
period
0.00% 0.00% 1.00% 1.00%
period
Details of shareholding pattern of directors and key managerial personnel [Table] ..(1)
Directors and key managerial personnel [Axis] AVINASHCHANDRAGUPTA NARAINHARIGUPTA
Shareholding at
Shareholding at beginning of
Change in shareholding [Axis] beginning of year
year [Member]
[Member]
01/04/2016 01/04/2016
to to
31/03/2017 31/03/2017
Total number of shares held at end of period [shares] 6,95,400 [shares] 77,165
Percentage increase decrease in shareholding during year 0.00% 0.00%
Details of shareholding pattern of directors and key managerial personnel [Abstract]
Details of shareholding pattern of directors and key managerial personnel
[LineItems]
Name of directors and key managerial personnel AVINASHCHANDRAGUPTA NARAINHARIGUPTA
Details of increase (decrease) in directors and key managerial personnel
NO CHANGE NO CHANGE
shareholding during year [TextBlock]
9
Details of directors signing board report [Table] ..(1)

Directors signing board report [Axis] AVINASHCHANDRAGUPTA NARAINHARIGUPTA
01/04/2016 01/04/2016
to to
31/03/2017 31/03/2017
Details of signatories of board report [Abstract]
Details of directors signing board report [LineItems]
Name of director signing board report [Abstract]
First name of director AVINASH NARAIN
Middle name of director CHANDRA HARI
Last name of director GUPTA GUPTA
Designation of director MD JT M D
Director identification number of director 00029546 00038819
Date of signing board report 14/11/2017 14/11/2017
Details of indebtedness of company [Table] ..(1)

Secured loans excluding deposits
Indebtedness [Axis] Indebtedness [Member]
[Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
Details of indebtedness of company [Abstract]
Details of indebtedness of company [LineItems]
Changes in indebtedness [Abstract]
Addition in indebtedness 62,43,83,124 58,10,69,148
Reduction in indebtedness 0 0
Total changes in indebtedness 62,43,83,124 58,10,69,148
Principal amount at end of financial year 449,97,49,715 387,53,66,591 381,50,18,351 323,39,49,203
Interest due but not paid at end of financial
0 0 0 0
year
Interest accrued but not due at end of
0 0 0 0
financial year
Total indebtedness at end of financial year 449,97,49,715 387,53,66,591 381,50,18,351 323,39,49,203
Details of indebtedness of company [Table] ..(2)

Indebtedness [Axis] Unsecured loans [Member] Deposits [Member]
01/04/2016 01/04/2016
to 31/03/2016 to
31/03/2017 31/03/2017
Details of indebtedness of company [Abstract]
Details of indebtedness of company [LineItems]
Changes in indebtedness [Abstract]
Addition in indebtedness 4,33,13,976 0
Reduction in indebtedness 0 0
Total changes in indebtedness 4,33,13,976 0
Principal amount at end of financial year 68,47,31,364 64,14,17,388 0
Interest due but not paid at end of financial year 0 0 0
Interest accrued but not due at end of financial year 0 0 0
Total indebtedness at end of financial year 68,47,31,364 64,14,17,388 0
10
Details of shareholding of promoters [Table] ..(1)

Promoters [Axis] AVINASHCHANDRAGUPTA AVINASHCHANDRAGUPTAHUF ELECTROCOKEFUELSLTD KESHAVSPONGEENERGYPRIVATE
01/04/2016 01/04/2016 01/04/2016 01/04/2016
to to to to
31/03/2017 31/03/2017 31/03/2017 31/03/2017
Total number
of shares held at end [shares] 6,95,400 [shares] 1,125 [shares] 8,11,375 [shares] 3,51,000
of period
Percentage of
total shares held at 5.00% 0.00% 6.00% 3.00%
end of period
Percentage of
change in shares 0.00% 0.00% 0.00% 0.00%
held during year
Details of
shareholding of
promoters [Abstract]
Details of
shareholding of
promoters
[LineItems]
Shareholder’s AVINASH CHANDRA AVINASH CHANDRA KESHAV SPONGE & ENERGY
ELECTROCOKE FUELS LTD.
name GUPTA GUPTA(HUF) PRIVATE
Total number
of period
Percentage of
end of period
Percentage of
shares
pledged/encumbered
100.00% 0.00% 100.00% 100.00%
to total
shares at end of
period
Percentage of
change in shares 0.00% 0.00% 0.00% 0.00%
held during year
Total
number of shares [shares] 6,95,400 [shares] 1,125 [shares] 8,11,375 [shares] 3,51,000
held at end of period
Percentage
of total shares held
5.00% 0.00% 6.00% 3.00%
at end of
period
Total number
of period
Percentage of
end of period
Total
number of shares [shares] 6,95,400 [shares] 1,125 [shares] 8,11,375 [shares] 3,51,000
held at end of period
Percentage
of total shares held
5.00% 0.00% 6.00% 3.00%
at end of
period
11

Promoters [Axis] MISHALVINCOMPVTLTD NARAINHARIGUPTA NARAINHARIGUPTAHUF SHRIBADRINARAININFRASTRUCTURES
01/04/2016 01/04/2016 01/04/2016 01/04/2016
to to to to
31/03/2017 31/03/2017 31/03/2017 31/03/2017
Total number of
shares held at end of [shares] 8,90,975 [shares] 77,165 [shares] 1,125 [shares] 1,38,000
period
Percentage of
total shares held at end of 7.00% 1.00% 0.00% 1.00%
period
Percentage of
change in shares held 0.00% 0.00% 0.00% 0.00%
during year
Details of
shareholding of
promoters [Abstract]
Details of
shareholding of
promoters [LineItems]
Shareholder’s MISHAL VINCOM PVT.
NARAINHARI GUPTA NARAINHARIGUPTAHUF SHRI BADRINARAIN INFRASTRUCTURES
name LTD.
Total number of
period
Percentage of
period
Percentage of
shares
pledged/encumbered 100.00% 100.00% 0.00% 100.00%
to total shares at
end of period
Percentage of
change in shares held 0.00% 0.00% 0.00% 0.00%
during year
Total number of
period
Percentage of
total shares held at end of
7.00% 1.00% 0.00% 1.00%
period
Total number of
period
Percentage of
period
Total number of
period
Percentage of
total shares held at end of
7.00% 1.00% 0.00% 1.00%
period
12

Promoters [Axis] VRINDAISPATPVTLTD
01/04/2016
to
31/03/2017
Total number of shares held at end of period [shares] 9,77,125
Percentage of total shares held at end of period 7.00%
Percentage of change in shares held during year 0.00%
Details of shareholding of promoters [Abstract]
Details of shareholding of promoters [LineItems]
VRINDA ISPAT PVT.
Shareholder’s name LTD.
Percentage of shares pledged/encumbered to total shares at end of period 100.00%
Percentage of change in shares held during year 0.00%
13

01/04/2016
to
31/03/2017
Textual information (1)
Disclosure in board of directors report explanatory [TextBlock] [See below]
Description of state of companies affair [See below]
In view of losses incurred
by the Company during the
year, no amount has been
Disclosure relating to amounts if any which is proposed to carry to any
transferred to the
reserves General Reserve for the
financial year ended 31
March 2017.
In view of losses incurred
by the Company, your
directors do not
Disclosures relating to amount recommended to be paid as dividend recommend any dividend
for the financial year
ended 31st March 2017.
Details regarding energy conservation [See below]
The Company continues to
use the latest
technologies for
improving the
productivity and quality
Details regarding technology absorption of its services and
products. The Company's
operations do not require
significant import of
technology.
No foreign Exchange
during the period & Total
Details regarding foreign exchange earnings and outgo foreign exchange
outgoing during the
period is Rs. 9730041/-
Disclosures in director’s responsibility statement [See below]
No material changes and
commitment which could
affect the Company's
Details of material changes and commitment occurred during period financial position have
affecting financial position of company occurred between the end
of the financial year of
the Company and date of
this report.
Particulars of loans guarantee investment under section 186 [TextBlock] [See below]
Particulars of contracts/arrangements with related parties under section Textual information (6)
188(1) [TextBlock] [See below]
Whether there are contracts/arrangements/transactions not at arm's
No
length basis
Whether there are material contracts/arrangements/transactions at
No
arm's length basis
Disclosure of extract of annual return as provided under section 92(3) Textual information (7)
[TextBlock] [See below]
NO CHANGE IN PROMOTERS
Details of change in promoters shareholding [TextBlock] SHARE HOLDING
Details of shareholding pattern of directors and key managerial

personnel [TextBlock]
Disclosure of statement on declaration given by independent directors Textual information (8)
under section 149(6) [TextBlock] [See below]
Disclosure for companies covered under section 178(1) on
directors appointment and remuneration including other matters [See below]
provided under section 178(3) [TextBlock]
Disclosure of statement on development and implementation of risk Textual information (10)
management policy [TextBlock] [See below]
Details on policy development and implementation by company on
corporate social responsibility initiatives taken during year [See below]
[TextBlock]
Disclosure as per rule 8(5) of companies accounts rules 2014 [TextBlock]
Disclosure of financial summary or highlights [TextBlock] [See below]
14
D u r i n g
the year under review,
there has been no change
Disclosure of change in nature of business [TextBlock] in the nature of business
o f t h e
Company.
Details of directors or key managerial personnels who were Textual information (13)
appointed or have resigned during year [TextBlock] [See below]
T h e
Disclosure of companies which have become or ceased to be its Company does not have any
subsidiary/associate
subsidiaries, joint ventures or associate companies during /joint venture Company
year [TextBlock] during the year ended 31
M a r c h
2017
Details relating to deposits covered under chapter v of companies act Textual information (14)
Deposits accepted during year 0
Deposits remained unpaid or unclaimed at end of year 0
Amount of default in repayment of deposits or payment of interest
0
thereon beginning of year
Maximum amount of default in repayment of deposits or payment of
0
interest thereon during year
Amount of default in repayment of deposits or payment of interest
0
thereon end of year
Number of cases of default in repayment of deposits or payment
0
of interest thereon beginning of year
Maximum number of cases of default in repayment of deposits or
0
payment of interest thereon during year
Number of cases of default in repayment of deposits or payment
0
of interest thereon end of year
Details of deposits which are not in compliance with requirements Textual information (15)
of chapter v of act [TextBlock] [See below]
Details of significant and material orders passed by
regulators or courts or tribunals impacting going concern [See below]
status and company’s operations in future [TextBlock]
Details regarding adequacy of internal financial controls with Textual information (17)
reference to financial statements [TextBlock] [See below]
Disclosure of appointment and remuneration of managerial personnels Textual information (18)
Disclosure of composition of audit committee and non-acceptance
of any recommendation of audit committee along with reasons [See below]
[TextBlock]
Disclosure of details of establishment of vigil mechanism [TextBlock] [See below]
Number of meetings of board 10
15
Disclosure in board of directors report explanatory [Text Block]

DIRECTORS' REPORT
To The Member's
Your Directors have pleasure in presenting the 34th Annual Report of the Company and the Annual Accounts for the year ended 31st March,
2017.
Summary of Financial Results (Rs inlacs)

Particulars Year ended on March 31,2017 Year ended on March 31,2016
Revenue from Operations 46,948.95 55,341.10
Other Income 13.16 40.83
Total Revenue 46,962.11 55,381.94
Total Expenses 56,723.13 58,013.02
Profit/(Loss) before Exceptional and Extra-Ordinary Items and Tax (9,761.01) (2,631.08)
Exceptional Items 13.39 74.49
Profit/ (Loss) before tax (9,774.41) (2,705.57)
Profit/ (Loss) after Tax (9,777.81) (2,705.57)
Performance and Operational Review and State of Company affairs:
During the year Revenue from Operations stood at Rs. 46,948.95 Lacs. Decrease in sales volume was only due to the low demand. The
sales and other income of the Company amounted to Rs. 46,962.11 Lacs compared to Rs 55, 381.94 Lacs in the previous year. After providing for
financial charges, depreciation, current and deferred taxation and other adjustments, the Company reported loss of Rs.9, 777.81 Lakhs. Earnings
Per Share (EPS) stood at Rs (34.01) for the financial year ended March 31, 2017. There is no change in the nature of business of the company.
Disclosure of financial statement has been provided in the prescribed format as a part of this report. Factory had been working efficiently during
the year. Safety measures and processes have been installed and improved upon at the plants and work sites.
Dividend:
In view of losses incurred by the Company, your directors do not recommend any dividend for the financial year ended 31st March 2017.
Transfer to Reserves:
In view of losses incurred by the Company during the year, no amount has been transferred to the General Reserve for the financial year ended 31
March 2017.
Change in Nature of Business:
During the year under review, there has been no change in the nature of business of the Company.
Share Capital:
16
Shareholders of the Company at the Annual General Meeting Held on 19th August 2016 had not approved the Item/Resolution No.4 and 5 of the
Notice, Increase in Authorized Share Capital, Issue of Non-Convertible Redeemable Preference Shares.
The Company's Issued, Subscribed and paid up capital at Rs. 28,75,34,500 (Twenty Eight Crore Seventy Five Lakhs Thirty Four Thousand Five
Hundred Only) Comprising of 13,17,4450 Equity Shares of Rs 10/- and 15,57,9000, 9 % Non-Convertible Non-Cumulative Redeemable
Preference Shares of Rs 10/-.There was no change in the Company's share capital during the year under review.
Subsidy/Associate/Joint Venture Company:
The Company does not have any subsidiary/associate /joint venture Company during the year ended 31 March 2017.
Extension of date of Holding Annual General Meeting of the Company:
In accordance with the provisions of Section 96 read with Section 129 of the Companies Act, 2013, the Annual General Meeting (AGM) of the
Company for the financial year ended 31 March 2017, was due to be held on or before 30 September 2017. The Company approached the
Registrar of Companies, Kolkata to extend the time of Annual General Meeting by three months and keeping in view of our demand they give us
necessary approval to hold the Annual General Meeting for the financial year 2016-17 up to 31 December 2017.
Board Meetings:
The Board met 10 times during the financial year for details of the meeting of the board please refer Corporate Governance Report that forms part
of the Annual Report. The intervening gap between the meetings was within the period prescribed under the Companies Act, 2013 and the
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulation").
Directors and Key Managerial Personnel:
At the meeting held on 09th September 2016, the Board of Directors had re-appointed. Avinash Chandra Gupta (DIN- 00029546) as the
Managing Director of the Company for a period of 5 (five) years with effect from 01st October 2016 to 30th September 2021.His re-appointment
is subject to the approval of the Members and the said re-appointment together with the remuneration and terms and conditions are proposed in
the notice for the forthcoming AGM for your approval.
In accordance with the provisions of Section 152 of the Companies Act 2013 , Mr. Tarit Kumar Sanyal (DIN - 07586578), Whole time Director
designated as Director of the
Company, retire by rotation at the forthcoming Annual General Meeting and being eligible offers himself for re-appointment.
Mr. Somnath Mukherjee (DIN-06399124) , Whole Time Director resigned from the Board of the Directors of the Company with effect from
29th July 2016. The Board places on record its appreciation and gratitude for the valuable contributions made by him .
Mr. Chayan Kumar Mukherjee (DIN-02241669) , Independent Director resigned from the Board of the Directors of the Company with effect
from 8th December 2016 The Board places on record its appreciation and gratitude for the valuable contributions made by him during his tenure
as an Independent Director on the Board of the Company.
17
Mr. Manmohan Singh (DIN-06723986) has been appointed as the Additional Director and Executive Whole time Director on the Board of the
Company with effect from 10th February 2017 for a period of 5 (five) years, subject to the approval of Members at the ensuing AGM of the
Company.
During the year Mr. Pankaj Kumar Choubey (A29230) was resigned from the post of Company Secretary and Compliance officer w.e.f 29th
August 2016 and board appoints Mr. Sanjay Kumar Rai, Company Secretary and Compliance officer (A18799).
Consequent to the resignation of Mr. Rai, w.e.f 15th March 2017, the Board appointed Mr. Ashutosh Sharma as Company Secretary and
Compliance officer (F9025) of the Company w.e.f 15th March 2017.
Mr. Pravin Chokhani was resigned from the Post of Chief Financial officer (CFO) w.e.f 26th April 2017, consequently the board appoints Mr.
Ajoy Kumar Chand as a Chief Financial Officer (CFO) of the Company w.e.f 27th April 2017.
Directors' Responsibility Statement:
In accordance with the provisions of Section 134(5) of the Companies Act 2013, your directors confirm:
a) that in the preparation of the annual accounts for the financial year ended 31 March 2017, the applicable accounting standards had been
followed along with proper explanation relating to material departures ;
b) that the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable
and prudent so as to give a true and fair view of the state of affairs of the Company as at 31 March, 2017 and the loss of the Company for that
period;
c) that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of
Companies Act, 2013 for safeguarding the assets of your Company and for preventing and detecting fraud and other irregularities;
d) that the annual accounts have been prepared on a going concern basis;
e) that the d irectors had laid down internal financial controls to be followed by the Company and that such internal financial Control are
adequate and were operating effectively;
f) that proper systems to ensure compliance with the provisions of all applicable laws were in place and that such systems were adequate and
operating effectively.
Auditor and Auditors Report:
M/s. CL Saraf and Co., Chartered Accountants (firm Registration No. 305115E), retiring auditors of the Company hold office until the conclusion
of the Annual General Meeting. The Company has received a letter from the M/s H L P and Associates, Chartered Accountants (Firm
18
Registration No. 326027E) Statutory Auditors to the effect that their appointment, to hold office from the conclusion of this 34th Annual General
Meeting (AGM) until the conclusion of the 39th AGM, subject to ratification by members , it would be as per the term provided under the Act
and within the limits laid down by or
under the authority of the Act. The notes on the financial statements referred to in the Auditors' Report are Self-explanatory and requires no
explanation.
Internal Auditor:
In terms of Section 138 of the Act Mr. Om Prakash Singh, a Chartered Accountant and Cost and Management Accountant an employee of the
company were appointed as Internal Auditor of the Company.
Secretarial Auditor:
Pursuant to Section 204 of the Companies Act 2013 and The Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014,
the Board of Directors of the Company had Appointed M/s. S. Deepak and Associates, Practicing Company Secretary (ACS 25625), to conduct
Secretarial Audit for the financial year 2017-18. The Secretarial Audit Report for the financial year ended March 31, 2017 is annexed herewith
marked as Annexure - I to this Report. The Board noted that the qualification given by secretarial auditor regarding the constitution of
Nomination and Remuneration Committee is not constituted as per the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015
and the board is in the process of Appointment of Non-Executive Director.
Cost Auditors:
As per Section 148 of the Companies Act, 2013, the Board of Directors has appointed, M/s. DGM and Associates, (Registration No.00038), Cost
Accountants, Kolkata as Cost Auditors of the Company, to carry out the cost audit of the products manufactured by the Company for the financial
year ending 31 March 2018.
Risk Management Policy:
With reference to the provisions of Section 134(3) (n) of the Companies Act, 2013, the Board of Directors has developed a risk management plan
of the Company and had identified the key risk areas where the Company's business is vulnerable. The key risk areas are further categorized in
the following:-
(a) Strategic Risks,
(b) Operational Risks and
(c) Financial and Compliance related Risks.
All the strategic, operational and financial risks are duly analyzed and taken care of.
The Directors are aware of the requirement of the risk mitigation plan and are continuously making the necessary efforts to redress the impact of
the adversities.
19
Statement in Respect of Adequacy of Internal Financial Control with Reference to the Financial Statements:
The Company has in place adequate internal financial controls with reference to financial statements. During the year, such controls were tested
and no reportable material weakness in the design or operation was observed.
Related Party Transactions:
The Audit Committee reviews all the Related Transactions, to ensure that the same are in line with the provisions of Law and Policy. The
Committee approves the Related party Transactions.
All contracts / arrangements / transactions entered by the Company during the financial year with related parties were in the ordinary course of
business. During the year, the Company had not entered into any contract / arrangement / transaction with related parties which could be
considered material in accordance with the policy of the Company on materiality of related party transactions.
Your Directors draw attention of the members to Note 32 (i) and (ii) to the financial statement which sets out related party disclosures.
Information on transaction with related parties is given in Form AOC-2, Annexure II and the same forms part of this report.
Conservation of Energy, Technology absorption, Foreign Exchange earnings and outgo:
A. Conservation of Energy
a) During the year under review the company has installed power factor correction/improvement capacitors and meters, thereby resulting in
substantial saving in unit consumption and keeping the contract demand within the contract limit.
b) The company is installing advance electrical demand correction system in the plant for optimum utilization of contract demand.
c) Total energy consumption and energy consumption per unit of production, as per Form-A of the Annexure in respect of Industries specified is
Not applicable.
B. Technology Absorption
The Company continues to use the latest technologies for improving the productivity and quality of its services and products. The Company's
operations do not require significant import of technology.
C. Research and Development (RandD)
Specific areas in which RandD carried out by the Company and benefits Derived as a result thereof. No research and Development work has been
carried out by the Company during the year. However, the Company is still under the process of having its own in house Research and
Development unit.
20
D. Foreign Exchange Earnings and Outgo
I) Foreign Exchange earnings : NIL
II) Foreign Exchange Out go :
S.L No Item 31st March,2017 31st March,2016

1 Expenditure in foreign currency on foreign travels and Others 6,106,350 12,664,364
2 Subscription and Donation 707,914 -
3 Raw Materials - -
4 Sales promotion - -
5 Mould 2,726,212 32,55,688
6 Fixed Assets 189,565 -
Total 9,730,041 1,59,20,055
Particulars of Loans, Guarantees or Investments:
Details of loans, guarantees and investments covered under the provisions of Section 186 of the Companies Act, 2013 are given in the notes to the
financial Statements.
Particulars of Employees:
The disclosure as required under Rule 5(1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014,
The Extract of Remuneration of employees attracting the provisions of Rule 5(2) of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 for the Financial Year ended 31st March, 2017 is given separately and forms part of the Directors Report.
Deposit:
During the year, the Company has not accepted any deposits from public under Chapter V of the Companies Act, 2013.
Extract of Annual Return:
The details forming part of the extract of the Annual Return in Form MGT 9 as per provisions of Companies Act, 2013 and rules thereto is
annexed to this report as Annexure - III.
Corporate Governance:
The Company is committed in maintaining the highest standards of Corporate Governance and adheres to the stipulations prescribed under Clause
17-23 of the SEBI (Listing Obligation
and Disclosure Requirements) Regulations 2015. A Report on Corporate Governance and Shareholder Information together with the Auditors'
Certificate thereon is annexed as part of the Annual Report.
21
Management Discussion and Analysis Report:
A detailed analysis of the Industry and Company Outlook, Company's operations, project review, risk management, strategic initiatives and
financial review and analysis, as stipulated under SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015 is presented under a
separate section titled "Management Discussion and Analysis" forming part of the Annual Report.
Listing with stock exchanges:
The Company confirms that it has paid the annual Listing Fees for the year 2016-2017 to The Calcutta Stock Exchange where the Company's
shares are listed.
Material Changed occurred after end of Financial Year:
No material changes and commitment which could affect the Company's financial position have occurred between the end of the financial year of
the Company and date of this report.
Vigil Mechanism:
In pursuant to Section 177(9) of the Act, 2013 and Rules made there under, the company has in place a policy on vigil mechanism for enabling
the Directors and employees of the Company to report their genuine concerns, if any and also provides for adequate safeguards against
victimization of persons using the mechanism.
Corporate Social Responsibility (CSR):
The Company recognizes that its operations impact a wide community of stakeholders, including investors, employees, customers, business
associates and local communities and that appropriate attention to the fulfillment of these social responsibilities can enhance overall performance.
The Board of Directors of the Company, in this regard, has devised a Corporate Social Responsibility (CSR) Policy .In spite of the fact that the
provisions under Rule 8 of Companies (CSR Policy) Rules, 2014 is not applicable on the Company, in the social interest and the interest of the
weaker section at large the Company voluntarily adopted the policy of Social Corporate Responsibility.
Statement on Formal Annual Evaluation Made by the Board of Its own Performance, its Directors, and that of Its Committees:
Pursuant to the provisions of the Companies Act, 2013 ("the Act"), the Board carried out the performance evaluation of its own and that of its
individual Directors through the Nomination and Remuneration Committee of the Board ('the Committee"), duly constituted by the Board for the
above purpose, amongst others, in terms of the Act.
22
During the year under review, the Committee made the performance evaluation as above, based on the following criterions, in line with the
Nomination and Remuneration Policy:
- Attendance and participation in the meetings;
- Preparedness for the meetings;
- Understanding of the Company and the external environment in which it operates
And- constructive contribution to issues and active participation at meetings
The Committee found the Directors to be fulfilling the above criterions.
The Board also conducted the performance evaluation of its various Committees, based on references made to the Committees, in terms of the Act
and found the performance to be satisfactory.
Disclosure under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013:
Your Company has in place an Anti-Sexual Harassment Policy in line with the requirements of The Sexual Harassment of Women at the
Workplace (Prevention, Prohibition and Redressal) Act, 2013.Your Directors have to report that, during the year under review, neither any
complaints of sexual harassment were received by it, nor were there any complaints relating thereto which required any disposal thereof.
Reportable frauds:
No fraud has been reported by the Auditors under Section 143(12) of the Companies Act, 2013, during the period under review.
Acknowledgement
The Board would like to express its sincere appreciation for the valuable support and co-operation received from various Central and State
Government Authorities, Stock Exchanges, Financial Institutions and Banks during the year. They also gratefully acknowledge the support
extended by the customers and shareholders and contribution made by the employees at all level.
For and on behalf of Board of Directors.
Date- 14th November 2017
Place Kolkata (AvinashChandraGupta) (NarainHariGupta
Managing Director Jt. Managing Director
DIN-00029546 DIN-00038819
23
Annexure: I
Form No. MR-3
SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED 31ST MARCH 2017
[Pursuant to Section 204(1) of the Companies Act, 2013 and Rule No.9 of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014]
To
The Members,
SHRI BADRINARAIN ALLOYS and STEEL LTD.
6/2, MOIRA STREET
HALWASIYA MANSION, 4TH FLOOR,
KOLKATA-700017
We have conducted the secretarial audit of the compliances of applicable statutory provisions and the adherence to good corporate practices by
SHRI BADRINARAIN ALLOYS and STEEL LTD. (hereinafter called the Company). Secretarial Audit was conducted in a manner that provided
us a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing our opinion thereon.
Based on our verification of the Company's books , papers, minute books, forms and returns filed and other records maintained by the Company
and also information provided by the Company , its officers , agents and authorised representatives during the conduct of secretarial Audit ,we
hereby report that in our opinion , the Company has during the audit period covering the financial year ended on 31st March, 2017 complied with
the statutory provisions listed hereunder and also that the Company has proper Board processes and compliance-mechanism in place to the extent
, in the manner and subject to the reporting made hereinafter:
We have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company for the financial year
ended on 31st March, 2017 according to the provisions of:
(i) The Companies Act , 2013 (The Act) and the rules made thereunder;
(ii) The Securities Contracts (Regulation) Act, 1956 ('SCRA') and the rules made thereunder;
(iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;
(iv) Foreign Exchange Management Act, 1999 and Rules and regulations made thereunder to the extent of Foreign Direct Investment, Overseas
Direct Investment and External Commercial Borrowings;
(v) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act , 1992 ('SEBI Act'):-
(a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. (Not applicable to the
Company during the Audit Period);
24
(b) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;
(c) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009. (Not applicable to the
(d) The Securities and Exchange Board of India (Share based Employee Benefits) Regulations, 2014;
(e) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008 (Not applicable to the Company during
the Audit Period);
(f) The Securities Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies Act
and dealing with the client. (Not applicable to the Company during the Audit Period);
(g) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 (Not applicable to the Company during the Audit
Period); and
(h) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998. (Not applicable to the Company during the Audit
Period).
(vi) We have relied on the representation made by the Company and its officers for systems and mechanism formed by the Company for
compliances of the specific laws applicable specifically to the Company:
We have also examined compliances with the applicable clauses of the following:
(i) Secretarial Standards issued by The Institute of Company Secretaries of India.
(ii) The Listing Agreement entered into by the Company with The Calcutta Stock Exchange Limited.
We have not examined compliance by the Company with applicable financial laws, like direct and indirect laws, since the same have been subject
to review during statutory financial audit and by other designated professionals.
During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc.
mentioned above.
We further report that
The Board of Directors of the Company is duly constituted. The changes in the composition of the Board of Directors that took place during the
period under review were carried out in compliance with the provisions of the Act.
Adequate notice is given to all directors to schedule Board Meetings, agenda and detailed notes on agenda were sent at least seven days in
advance, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for
meaningful participation at the meeting.
All decisions at Board Meetings were carried out unanimously as recorded in the minutes of the meetings of the Board of Directors.
Matter of Emphasis
Pursuant to Section 152(6) of the Act, 2/3rds of the total directors ( except Independent Directors) of a Company shall be rotational directors.
Thus, while the Company needed 3 (Three) rotational directors, it had only 2 (Two) rotational directors on its Board.
We further report that there are adequate systems and processes in the company commensurate with the size and operations of the company to
monitor and ensure compliance with applicable laws, rules, regulations and guidelines
25
We further report that during the audit period there was no event/action having a major bearing on the Company's affairs in pursuance of the
above referred laws, rules, regulations, guidelines subject to the following remarks
1- The Constitution of Nomination and Remuneration Committee is not as per SEBI (LODR) Regulations, 2015.
This report is to be read with our letter of even date which is annexed as Annexure A and forms an integral part of this report.
For S. Deepak and Associates
Company Secretaries
Place: Kolkata CS Deepak Swain
Proprietor
Date: 14th November 2017 ACS-25625, C. P. No. 9131
Annexure-A
To
The Members,
6/2, MOIRA STREET,
KOLKATA-700017
Our report of even date is to be read along with this letter.
1. Maintenance of secretarial record is the responsibility of the management of the Company. Our responsibility is to express an opinion on these
secretarial records based on our audit.
2. We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness of the contents of
the secretarial record. The verification was done on the test basis to ensure that corrects facts are reflected in secretarial records. We believe that
the process and practices, we followed provide a reasonable basis for our opinion.
3. We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company.
4. Where ever required, we have obtained the Management representation about the compliance of Laws, rules and regulations and happening of
the events etc.
5. The compliance of the provision of corporate and other applicable laws, rules, regulations, standards is the responsibility of the management.
Our examination was limited to the verification of procedure on test basis.
26
6. The Secretarial Audit report is neither an assurance as to the future viability of the company nor of the efficacy or effectiveness with which
the management has conducted the affairs of the Company.
Company Secretaries
Proprietor
Annexure'II" To the Directors Report
Form No. AOC-2
(Pursuant to clause(h) of sub-section (3) of section 134 of the

Act and Rule 8(2) of the Companies (Accounts)Rules, 2014)
Form for disclosure of particulars ofcontracts / arrangements entered into by the company with related partiesreferred to in sub-section (1) of
section 188 of the Companies Act, 2013including certain arm's length transactions under third proviso thereto:
1. Details of contracts or arrangementsor transactions not at arm's length basis:
No such case duringthe F.Y-2016-2017.
2. Details of material contracts orarrangement or transactions at arm's length basis:
No such case duringthe F.Y-2016-2017.

Place- Kolkata
(Avinash Chandra Gupta) (Narain Hari Gupta)

Managing Director Jt.Managing Director
DIN-00029546 DIN-00038819
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Overview:-
Due to the impact of various adverse factors in procuring Raw materials for the Industry and continuous decrease in steel prices, the performance
of the Industry during the year was not up to the level of our expectation as compared to previous year. During the year 2016-17 the total revenue
was Rs. 46,962.11 Lakh as against Rs. 55,381.94 Lakh in previous year and the Profit/ (Loss) after Tax is Rs. (9,777.81) Lakh in the year
2016-17 as against the loss of Rs. ( 2,705.57 ) Lakh in the previous year.
Opportunities and Threats
Opportunities :-
Commensurate to the fast transformation of housing and Infrastructure sector in India, the iron and steel industry has seen a reasonable growth in
27
demand and increase in production volumes especially in China and India. However, this has once again put pressure on raw material availability
and prices. As a result of various schemes announced by Central Government and State Governments towards the infrastructure and Housing
Sector, the Demand for Steel in India is expected to remain stable and there will always be a positive market scope for steel products.
Threats:-
The threats for your Company would come from various adverse factors, such as fluctuations in availability of input and capital costs, foreign
exchange variations and taxes and duties. Apart from this, there are few challenges, which in short term will moderate growth rate of Steel sector
such as -high rate of inflation, high interest rates, depreciating rupee, delays in policy initiatives to boost investments and capital flows etc.
Outlook:-
Despite slight lower economic growth of the Country and high inflation rate, the housing, construction and infrastructure sector is continued to
record a healthy growth, which urges well for the Iron and steel industries. However, with the expected commissioning of new capacities, the
supply may overtake the demand causing price volatility in the market. While the cost increases are going unabated, the Industry has been
pressurized to keep prices under check thereby unable to pass on the cost increases to customers.
Internal control and analysis:-
The Company has adequate internal control procedures commensurate with its size and nature of business. The objectives of these procedures are
to ensure efficient use and protection of company's resources, accuracy in financial reporting and due compliance of statutory requirements and to
ensure safety inside the factory during the operation.
Sales promotion measures:-
To cope with the high degree of competition prevailing in today's business environment, sales promotion measures has become an integral part for
every business entity. During the year 2016-17, your Company has done several events to promote the sales of the company at the different
locations in West Bengal and other states.
Human resources development / Industrial relations
Your Company recognizes the fact that manpower is one of the vital constituents of a successful Organization:
The impact of Globalization, increased competition, constant technical innovation and up gradation is making today's business environment and
organizational dynamics more and more complex. Hiring the best people, retaining them and ensuring their development is major challenge for
the industry in today's competitive environment.
The company gives high importance to growth and motivation of its manpower resources with an aim to encourage a productive, participative and
collaborative work culture through appropriate intervention. This has helped the company in building dedicated team for creating value for the
company. Management's relation with the employees were cordial at all-time throughout the year.
CORPORATE GOVERNANCE REPORT
1. COMPANY'S PHILOSOPHY ON CORPORATE GOVERNANCE
The company's philosophy on Corporate Governance is to achieve the highest levels of transparency, accountability, in all its interactions with its
stake holders, employees, lenders, and the Government. We believe that Corporate Governance is a self-regulatory and voluntary code which
means not only ensuring compliance with the regulatory requirements but also to be responsible to our stake holders' needs. Focus of the company
has always been to ensure continuing value creation for each of its stake holders and above all to achieve the business excellence with the Goal of
long term sustainable developments.
2. BOARD OF DIRECTORS
The total number of Directors of the Company as on 31st March, 2017 was 6 (Six)out of which four executive and two non-executive
28
Independent Directors.The Board is headed by an executive director.
a) The composition of the Board of Directors/ No.of Meetings attended and the number of other Directorship and Membership/Chairmanship
held by the Directors in the Committees of various Companies as on 31st March, 2017 are given below:
S.L No. of Board Attendance No of No. of committee positions

Name of the Relationship with
No Category Meetings in last Shares Other Directorship held in other Public Ltd.
Directors other Directors
attended AGM Held. companies
Shri
3 (Out of which 2
Avinash Elder brother of Shri
1 Executive 8 Yes 695400 Companies are Private Nil
Chandra Narain Hari Gupta.
Limited)
Gupta
Younger Brother of
Shri Narain
2 Shri Avinash Chandra Executive 8 Yes 77165 2 (Pvt. Ltd. company) Nil
Hari Gupta
Gupta
Shri Tarit
3 Kumar NA Executive 5 Yes Nil Nil Nil
Sanyal
Shri
4 Manmohan NA Executive 1 No Nil 2 (Pvt. Ltd. company) Nil.
Singh
Non-
Shri Asok
5 NA Executive, 7 Yes Nil Nil Nil.
Kumar
Independent
Non-
Ms. Prerna
6 NA Executive, 6 Yes Nil Nil Nil
Priya
Independent
a) Number of Board Meetings held during the Financial Year 2016-2017 :
During the Financial Year under review, the Board has met Ten (10) times meetings of the Board of Directors of the Company were held on 28th
May 2016, 18th July 2016, 10th August 2016, 29th August 2016, 09th September 2016, 28th October 2016, 14th November 2016, 10th December
2016, 10th February 2017 and 06th March 2017, The maximum time gap between two board meetings was not more than three months.
The meetings of the board of directors are normally held at the Registered Office of the Company in Kolkata. Meetings are generally scheduled
well in advance. The notice of each board meeting is given in writing to each director. The board meets at least once in a quarter to review the
quarterly performance and the financial result.
Note: Shri Man Mohan Singh joined on 10th February 2017.
b) Information placed before the Board of Directors:
As per Regulation 17(7) read with Part A of Schedule - II of SEBI (LODR) Regulations, 2015, all statutory and other significant and material
information were placed before the Board to enable it to discharge its responsibilities of strategic supervision of the Company and as trustees of
the stakeholders.
3. COMMITTEES OF THE BOARD
The Board Committees focus on certain specific areas and make informed decisions with the authority delegated to them. Presently, the Company
is having the following Board Committees:
3.1 AUDIT COMMITTEE
i. Terms of Reference
29
The terms of reference of the Audit Committee include the powers and role as referred to in Regulation 18 of the SEBI (LODR) Regulations,
2015 read with Part - C of Schedule II of the said Regulation and Section 177 of the Companies Act, 2013.
ii. Meetings
There were 4 (Four) meetings of the Audit Committee held during the year 2016-2017 on 28th May 2016, 10th August 2016, 14th November
2016 and 10th February 2017.
iii. Composition of the Committee and no. of meetings attended
The composition of the Audit Committee as on 31st March, 2017 and the attendance of the members at the meeting(s) thereof during the year
2016-17 were as follows:
Name of Director No. of Meeting Attended Designation

Smt. Prerna Priya 4 Chairperson
Shri Asok Kumar 4 Member
Shri Avinash Chandra Gupta 4 Member
Note :
a. The composition of the Audit Committee meets the criteria as specified in Regulation 18 of SEBI (LODR) Regulations, 2015.
b. The Board Meeting held on 10th February 2017, the Board of Directors of the Company reconstitute the Audit Committee after that it
comprises Shri Asok Kumar (Chairman of the Audit Committee), Smt. Prerna Priya (Member) and Shri Avinash Chandra Gupta (Member).
The Audit Committee invites, as and when it considers appropriate, the Auditors of the Company to be present at the meetings of the Committee.
3.2 NOMINATION AND REMUNERATION COMMITTEE
The role and terms of reference of the Nomination and Remuneration Committee inter-alia include matters as may be applicable and prescribed in
Part - D of Schedule II of the SEBI (LODR) Regulations, 2015, read with Section 178 of the Companies Act, 2013 , DPE Guidelines and other
Government Guidelines. Being a Central Public Sector Enterprise, the appointment, tenure, performance evaluation, remuneration etc. of the
Directors of the Company are made / fixed by the Government of India.
ii. Meetings
There was 6 (Five meeting of the Nomination and Remuneration Committee held during the year 2016-2017 on 28th May,2016, 09th
September,2016,10th August,2016,30TH November 2016, 10th February, 2017 and 06th March,2017.
The composition of the Nomination and Remuneration Committee as on 31st March, 2017 and the attendance of the members at the meeting
thereof during the year 2016-17 were as follows:

Smt. Prerna Priya 6 Chairman
Note :
30
a. Due to Resignation of Mr. Chayan Kumar Mukherjee from the Board of Directors of the Company w.e.f 08th December 2017, the
composition of the Committee comprises Two Independent Non- Executive Director and One Executive Director. The Constitution of
Nomination and Remuneration Committee is not as per SEBI (LODR) Regulations, 2015 and the Board of Directors of the Company is in the
process of Appointment of Non-Executive Director.
3.3STAKEHOLDERS RELATIONSHIP COMMITTEE
The Company had set up Stakeholders Relationship Committee to consider and resolve the grievance of the security holders. Matters relating to
transfer, transmission, duplicate issue, non-receipt of Annual Report, etc. continue to be looked after by the "Committee of Directors".
ii. Meetings
There were 4 (Four) meetings of the Stakeholders Relationship Committee held during the year 2016-2017 on 28th May,2016, 10th August,2016,
14th November 2016 and 10th February 2016.
The composition of the Stakeholders Relationship Committee as on 31st March, 2017 and the attendance of the members at the meeting(s) thereof
during the year 2016-17 were as follows:

Smt. Prerna Priya 4 Chairman
Note :
a. The composition of the Stakeholders Relationship Committee meets the criteria as specified in Regulation 20 of SEBI (LODR) Regulations,
2015.
b. The Company Secretary acts as the Secretary to the Committee.
iv. During the year 2016-17, the following cases of transfer/transmission/issue of duplicate shares were received and processed:
Particulars Number of Cases Number of Equity Shares

Transfer of Shares NIL NIL
Transmission of Shares NIL NIL
Issue of duplicate Share Certificates NIL NIL
v. Details of Dematerialization of Physical Shares and Dematerialization of Shares during the year 2016-17: NIL
vi. Name and Designation of the Compliance Officer:
Mr. Ashutosh Sharma, Company Secretary is the Compliance Officer of the Company, w.e.f 15th March 2017.
vii. Details in respect of shareholders' complaints in SEBI Complaint Redressal System (SCORES) during the year 2016-17 :
31
Number of complaints received during the year NIL

Number of complaints redressed during the year NIL
Number of complaints pending as on 31st March, 2017 NIL
During the financial year ended 31st March, 2017, the Company and the RTA have attended investor grievances expeditiously except for the
cases constraint by disputes or legal impediment.
The e-mail ids of the Company for grievance redressal purpose are cs@sbaslindia.com , sbasl@sbaslindia.com where complaints can be lodged
by the investors.
SEPARATE MEETING OF THE INDEPENDENT DIRECTORS
During the year under review, the Independent Directors of the Company met on 10th February, 2017 to discuss inter alia, the quality, content and
timeliness of flow of information between the Management and the Board to effectively and reasonably perform its duties. All the Independent
Directors were present at the said Meeting.
4.DETAILS OF REMUNERATION OF THE DIRECTORS
Details of remuneration paid / payable to the Managing Director, Joint Managing Director and Whole Time Director of the Company for the
financial year ended 31.03.2017 are being mentioned hereunder. Rs. 5,000/- per director has been paid as sitting fee to the non-executive
directors.
Name of the Total Amount

Particulars of Remuneration
MD/WTD/Manager (In Rs.)
T.K M.
N.H Gupta
Gross salary A.C Gupta (M D) Sanyal(WTD) Singh(WTD)
(JMD)
(a) Salary as per provisions contained in section 17(1) of the 15840000

7200000 7200000 1200000 240000
Income Tax. 1961.
(b) Value of perquisites u/s 17(2) of the Income tax Act,
631260 1643060 - - 2274320
1961
Total 18114320
CODE OF CONDUCT
The Board of Directors have laid down a Code of Conduct for all members of the Board of Directors and senior management of the Company.
The same inter-alia also contains duties of Independent Directors as laid down under the Companies Act, 2013. The Code of Conduct for Board
Members and Senior Management of the Company.
The certificate regarding compliance with the Code of Conduct is given separately.
6. SUBSIDIARY COMPANIES
32
Company is not having any subsidiary company.
7. GENERAL BODY MEETINGS
Particulars of last three Annual General Meetings and All the resolutions set out in the respective notices were passed by the shareholders. The
following Special Resolutions were passed in the previous 3 (Three) Annual General Meetings of the Company are given below:
Financial Year
Day and Date and Time Venue Special Resolutions Passed
ended
ï¿½ To approve borrowing limits of the Company
March 31, 29TH September 2014, 6/2 Moira Street, Halwasiya Mansion, 4th
ï¿½ To approve the limit for creation of charges over
2014 11.30 A.M Floor, Kolkata-700017
the assets of the company.
March 31, 29TH September 2015,
NIL
2015 11.30 A.M
March 31, Friday,19th August 2016,
NIL
2016 11.30 A.M
GENERAL SHAREHOLDERS' INFORMATION

(a) The 34th Annual General Meeting (AGM) of the Company willbe held at 6/2Moira Street, Halwasiya Mansion, 4th Floor, and
Kolkata-700017 Tuesday, 26th December 2017 at 11.30 A.M.
(b)Financial Year: The Financial Year ofthe Company is from 1st April to 31st March.
(c) Book Closure: 20th December, 2017 to 26thDecember, 2017 (Both days inclusive).
(d) Listing of EquityShares on Stock Exchanges: The Calcutta Stock Exchange Limited (CSE), 7, Lyons Range, Kolkata - 700001.
(e) Registrar and Share Transfer Agents (RTA): MaheshwariDatamatics Private Limited, Address: 23, R.N Mukherjee Road, 5thFloor,
Kolkata-700017.
(f) CorporateIdentification No.: L27100WB1983PLC035650.
(g) Plant Location: Kulgachia, Uluberia, Howrah in the State of West Bengal.
(h) Address for Correspondence: Regd. Office: 6/2, Moira Street, Halwasiya Mansion, 4thFloor, Kolkata - 700 017. Telephone -033- 7179 7100,
Fax - (033) 3023-1900.
(I) Stock Market Data: No Tradingin Past Financial yea r.
Distribution of Shareholdingas on March 31, 2017:
Range Shareholders Share (Amount)

Number of holders % to Total Shares held % to Total
Upto - 5,000 8 9.6386 4250 .0032
5,001 - 10,000 7 8.4337 66250 .0503
10,001 - 20,000 13 15.6627 146250 .1110
20,001 - 30,000 2 2.4096 47500 .0361
30,001 - 40,000 1 1.2048 37500 .0285
40,001 - 50,000 0 0 0 .0000
50,001 - 1,00,000 7 8.4337 527850 .4007
1,00,001 and above 45 54.2169 130914900 99.3703
TOTAL 83 100.00 131744500 100.00
(k)Payment of Depository Fees: Annual Custody / Issuer fee for the year 2017-18 has been paid by the Company to NSDL and CDSL.
(l)No. of Shares held in dematerialized and physical mode as on 31st March, 2017:
33
No. of Shares % of Share Capital No. of Shareholders

Demat Form
In NSDL 5433290 41.24 16
In CDSL 1125 .01 1
Physical Form 7740035 58.75 66
Total 13174450 100.00 83
10. CERTIFICATE FROM CEO / CFO
As required under SEBI (Listing Obligation and Disclosure Requirements), Regulations 2015 Mr. Officer of the Company have certified to the
Board regarding the Financial Statements for the year ended 31 March 2017, which is annexed to this Report.
11. AUDITOR'S CERTIFICATE ON CORPORATE GOVERNANCE :
A Certificate from M/s C.L. Saraf and Co. Chartered Accountants. Regn. No. 305115E confirming compliance with the conditions of Corporate
Governance as stipulated in SEBI (LODR) Regulations, 2015 is annexed to this report and forms part of the Annual Report.
12.DECLARATION OF CODE OF CONDUCT:
This is to confirm that the Board of Directors of the company has laid down a Code of Conduct for its members and senior management personnel
of the company. It is further confirmed that all the Directors and senior management personnel of the company have affirmed Compliance with
the code of Conduct of the company for the financial year ended 31st March, 2017, in terms of the SEBI (LODR) Regulations, 2015 .
Place- Kolkata
(Avinash Chandra Gupta) (Narain Hari Gupta)
Managing Director Jt. Managing Director
DIN-00029546 DIN-00038819
Chief Executive Officer and Chief Financial Officer Certification
The following certificate was placed at the Board Meeting held on November 14, 2017.
We, Avinash Chandra Gupta, Managing Director and Ajoy Kumar Chand, Chief Financial officer (CFO), to the best our knowledge and belief
certify that:
In relation to the Audited Financial Accounts of the Company as at March 31, 2017, we hereby certify that-
a) We have reviewed financial statements and the cash flow statement for the year and that to the best of our knowledge and belief:
i. these statements do not contain any materially untrue statement or omit any material fact or contain statements that might be misleading;
ii. these statements together present a true and fair view of the Company's affairs and are in compliance with existing accounting standards,
applicable laws and regulations.
34
b) There are to the best of our knowledge and belief, no transactions entered into by the Company during the year which are fraudulent, illegal or
violate the Company's Code of Conduct.
c) We accept responsibility for establishing and maintaining internal controls for financial reporting and we have evaluated the effectiveness of
internal control systems of the Company pertaining to financial reporting and we have disclosed to the auditors and the Audit Committee,
deficiencies in the design or operation of internal controls, if any, of which we are aware and the steps we have taken or propose to take to rectify
these deficiencies.
d) We have indicated to the auditors and the Audit Committee:
i) significant changes in internal control over financial reporting during the year;
ii) significant changes in accounting policies during the year and that the same have been disclosed in the notes to the financial statements; and
iii) instances of significant fraud of which we have become aware and the involvement therein, if any, of the management or an employee having
a significant role in the Company's internal control system over financial reporting.
Place- Kolkata
(Avinash Chandra Gupta) (Ajoy Kumar Chand)
Managing Director Chief Financial Officer
DIN-00029546
AUDITORS CERTIFICATE ON CORPORATE GOVERNANCE
To,
The Members of Shri Badrinarain Alloys and Steels Limited
We have examined the compliance of conditions of Corporate Governance by Shri Badrinarain Alloys and Steels Limited , for the year ended
March 31, 2017 as stipulated in Regulations of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (collectively referred to as "SEBI Listing Regulations, 2015).
The compliance of conditions of Corporate Governance is the responsibility of the Company's management. Our examination was carried out in
accordance with the Guidance Note on Certification of Corporate Governance, issued by the Institute of Chartered Accountants of India and was
limited to procedures and implementation thereof, adopted by the Company for ensuring the compliance of the conditions of Corporate
Governance. It is neither an audit nor an expression of opinion on the financial statements of the Company.
35
In our opinion and to the best of our information and according to the explanations given to us, we certify that the Company has complied with
the conditions of Corporate Governance as stipulated in the SEBI Listing Regulations, 2015.
We state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency or effectiveness with which the
management has conducted the affairs of the Company.
For C.L. Saraf and Co.
Chartered Accountants.
Regn. No. 305115E
Place - Kolkata G.R. Agarwal
Date- 14th November 2017 Partner
Memb. No. 016452
Description of state of companies affair

During the year Revenue from Operations stood at Rs. 46,948.95 Lacs. Decrease in sales volume was only due to the low demand. The sales and
other income of the Company amounted to Rs. 46,962.11 Lacs compared to Rs 55, 381.94 Lacs in the previous year. After providing for financial
charges, depreciation, current and deferred taxation and other adjustments, the Company reported loss of Rs.9, 777.81 Lakhs. Earnings Per Share
(EPS) stood at Rs (34.01) for the financial year ended March 31, 2017. There is no change in the nature of business of the company. Disclosure of
financial statement has been provided in the prescribed format as a part of this report. Factory had been working efficiently during the year.
Safety measures and processes have been installed and improved upon at the plants and work sites.
Details regarding energy conservation

a) During the year under review the company has installed power factor correction/improvement capacitors and meters, thereby resulting in
substantial saving in unit consumption and keeping the contract demand within the contract limit. b) The company is installing advance electrical
demand correction system in the plant for optimum utilization of contract demand. c)Total energy consumption and energy consumption per unit
of production, as per Form-A of the Annexure in respect of Industries specified is Not applicable
36
Disclosures in director’s responsibility statement

In accordance with the provisions of Section 134(5) of the Companies Act 2013, your directors confirm: a)that in the preparation of the annual
accounts for the financial year ended 31 March 2017, the applicable accounting standards had been followed along with proper explanation
relating to material departures ; b)that the Directors have selected such accounting policies and applied them consistently and made judgments
and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31 March, 2017 and the
loss of the Company for that period; c)that proper and sufficient care has been taken for the maintenance of adequate accounting records in
accordance with the provisions of Companies Act, 2013 for safeguarding the assets of your Company and for preventing and detecting fraud and
other irregularities; d) that the annual accounts have been prepared on a going concern basis; e) that the directors had laid down internal financial
controls to be followed by the Company and that such internal financial Control are adequate and were operating effectively; f) that proper
systems to ensure compliance with the provisions of all applicable laws were in place and that such systems were adequate and operating
effectively.
Particulars of loans guarantee investment under section 186 [Text Block]

Details of loans, guarantees and investments covered under the provisions of Section 186 of the Companies Act, 2013 are given in the notes to the
financial Statements.
Particulars of contracts/arrangements with related parties under section 188(1) [Text Block]
The Audit Committee reviews all the Related Transactions, to ensure that the same are in line with the provisions of Law and Policy. The
Committee approves the Related party Transactions.
All contracts / arrangements / transactions entered by the Company during the financial year with related parties were in the ordinary course of
business. During the year, the Company had not entered into any contract / arrangement / transaction with related parties which could be
considered material in accordance with the policy of the Company on materiality of related party transactions.
Your Directors draw attention of the members to Note 32 (i) and (ii) to the financial statement which sets out related party disclosures.
Information on transaction with related parties is given in Form AOC-2, Annexure II and the same forms part of this report.
37
Disclosure of extract of annual return as provided under section 92(3) [Text Block]
FORM NO. MGT 9
EXTRACT OF ANNUAL RETURN
as on financial year ended on 31.03.2017
Pursuant to Section 92 (3) of the Companies Act, 2013 and rule
12(1) of the Company (Management and Administration )
Rules, 2014.
REGISTRATION and OTHER
I
DETAILS:
i CIN L27100WB1983PLC035650
ii Registration Date 06/01/1983
iii Name of the Company Shri Badrinarain Alloys and Steel Limited
Category/Sub-category of the
iv Indian Non-Government Company
Company
Address of the Registered office and 6/2 Moira Street, Halwasiya Mansion, 4th
v
contact details Floor, Kolkata-700017
vi Whether listed company Yes
Name , Address and contact details M/s. Maheswari Datamatics Pvt. Ltd, 23,
vii of the Registrar and Transfer Agent, R.N Mukherjee Road,5th Floor,
if any. Kolkata-700001
II PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY
All the business activities contributing 10% or more of the total turnover of the
company shall be stated
SL NIC Code of the Product % to total turnover of the
Name and Description of main products/services
No /service company
1 Manufacture of Basic Iron and Steel 271 100
PARTICULARS OF HOLDING , SUBSIDIARY and
III
ASSOCIATE COMPANIES
% OF
Sl APPLICABLE
Name and Address of the Company CIN HOLDING/SUBSIDIARY/ASSOCIATE SHARES
No SECTION
HELD
1 N/A
IV . SHAREHOLDING
PATTERN (Equity Share
capital Break up as % to total
Equity)
i) Category-wise Share
Holding
No. of Shares held at the No. of Shares held at % change
Category of Shareholders beginning of the year the end of the year (As during the
(As on 01-April-2016) on 31-March-2017) year
% of % of
Demat Physical Total Total Demat Physical Total Total
Shares Shares
A. Promoters
(1) Indian
a) Individual/HUF 774815 - 774815 5.8812 774815 - 774815 5.8812 - -
b) Central Govt.or State Govt. - - - - - - - - - -
c) Bodies Corporates 3168475 - 3168475 24.0502 3168475 - 3168475 24.0502 - -
d) Bank/FI - - - - - - - - - -
e) Any other - - - - - - - - - -
38
SUB TOTAL:(A) (1) 3943290 - 3943290 29.9313 3943290 - 3943290 29.9313 - -

(2) Foreign
a) NRI- Individuals - - - - - - - - - -
b) Other Individuals - - - - - - - - - -
c) Bodies Corp. - - - - - - - - - -
d) Banks/FI - - - - - - - - - -
e) Any otherï¿½ - - - - - - - - - -
SUB TOTAL (A) (2) - - - - - - - - --
Total Shareholding of
3943290 - 3943290 29.9313 3943290 - 3943290 29.9313 - -
Promoter (A)= (A)(1)+(A)(2)
B. PUBLIC
SHAREHOLDING
(1) Institutions
a) Mutual Funds - - - - - - - - - -
b) Banks/FI - - - - - - - - - -
C) Cenntral govt - - - - - - - - - -
d) State Govt. - - - - - - - - - -
e) Venture Capital Fund - - - - - - - - - -
f) Insurance Companies - - - - - - - - - -
g) FIIS - - - - - - - - - -
h) Foreign Venture Capital
- - - - - - - - --
Funds
i) Others (specify) - - - - - - - - --
SUB TOTAL (B)(1): - - - - - - - - --
(2) Non Institutions
a) Bodies corporates
i) Indian 1482000 7582260 9064260 68.8018 1482000 7582260 9064260 68.8018 - -
ii) Overseas - - - - - - - - --
b) Individuals - - - - - - - - --
i) Individual shareholders
holding nominal share capital 9125 23425 32550 0.2471 9125 23425 32550 0.2471 - -
upto Rs.1 lakhs
ii) Individuals shareholders
holding nominal share capital - 134350 134350 1.0198 - 134350 134350 1.0198 - -
in excess of Rs. 1 lakhs
c) Others (specify) - - - - - - - - --
SUB TOTAL (B)(2): 1491125 7740035 9231160 70.0687 1491125 7740035 9231160 70.0687 - -
--
Total Public Shareholding (B)=
1491125 7740035 9231160 70.0687 1491125 7740035 9231160 70.0687 - -
(B)(1)+(B)(2)
C. Shares held by Custodian
- - - - - - - - --
for GDRs and ADRs
Grand Total (A+B+C) 5434415 7740035 13174450 100 5434415 7740035 13174450 100 --
SHARE HOLDING OF
(ii)
PROMOTERS
Shareholding at the Shareholding at the end % change in share
Sl
Shareholders Name begining of the year (As of the year (As on holding during the
No.
on 01-April-2016) 31-March-2017) year
% of shares % of total % of shares
S.l % of total shares of the pledged NO of shares of pledged
Name No of shares
No company encumbered to shares the encumbered to
total shares company total shares
VRINDA ISPAT PVT.
1 977125 7.4168 100 977125 7.4168 100 -
LTD.
MISHAL VINCOM
2 890975 6.7629 99.8737 890975 6.7629 99.8737 -
PVT. LTD.
39
3 ELECTROCOKE 811375 6.1587 99.2143 811375 6.1587 99.2143 -

FUELS LTD.
AVINASH CHANDRA
4 695400 5.2784 100 695400 5.2784 100 -
GUPTA
KESHAV SPONGE
5 and ENERGY 351000 2.6642 100 351000 2.6642 100 -
PRIVATE LIMITED
SHRI BADRINARAIN
6 INFRASTRUCTURES 138000 1.0475 100 138000 1.0475 100 -
PVT LTD
NARAINHARI
7 77165 0.5857 100 77165 0.5857 100 -
GUPTA
AVINASH CHANDRA
8 1125 0.0085 - 1125 0.0085 - -
GUPTA
NARAIN HARI
9 1125 0.0085 - 1125 0.0085 - -
GUPTA
Total 3943290 29.9313 - 3943290 29.9313 - -
CHANGE IN PROMOTERS' SHAREHOLDING ( SPECIFY IF THERE IS
(iii)
NO CHANGE)
Share holding at Cumulative Share
Sl.
the beginning of holding during the
No.
the Year year
% of total
% of total shares of No of
No. of Shares shares of the
the company shares
company
At the beginning of the year
Date wise increase/decrease in Promoters Share holding during the year
specifying the reasons for increase/decrease (e.g. N/a N/a N/a N/a
allotment/transfer/bonus/sweat equity etc)
At the end of the year
Shareholding Pattern of top ten Shareholders (other than

(iv)
Direcors, Promoters and Holders of GDRs and ADRs)
Shareholding at the
beginning of the year Cumulative Shareholding at end of the year 31/03/2017
01/04/2016
% of total
No. of % of total shares No. of
Sl No Name shares of the
shares of the Company shares
Company
1 LAXMI CORES MANUFACTURING PVT. LTD.
01/04/2016 1481000 11.24
31/03/2017 1481000 11.24 1481000 11.24
2 KUMAR BROTHERS
01/04/2016 900000 6.83
31/03/2017 900000 6.83 900000 6.83
3 DAFFODIL MERCHANDISE PVT. LTD.
01/04/2016 650000 4.93
31/03/2017 650000 4.93 650000 4.93
4 GLORIOUS DEALCOMM PVT. LTD.
01/04/2016 500000 3.8
31/03/2017 500000 3.8 500000 3.8
4 ARISTOCRAT MERCHANDISE PVT. LTD.
01/04/2016 500000 3.8
31/03/2017 500000 3.8 500000 3.8
5 ISIS MERCANTILES PVT. LTD.
01/04/2016 408000 3.1
40
31/03/2017 408000 3.1 408000 3.1

EXCEL STEELS (UNIT OF BADRINATH INDUSTRIES
6
LTD.)
01/04/2016 400000 3.04
31/03/2017 400000 3.04 400000 3.04
7 MOUDA TRADECON PVT. LTD.
01/04/2016 348000 2.64
31/03/2017 348000 2.64 348000 2.64
8 GANAPATI STEEL INDUSTRIES
01/04/2016 320000 2.43
31/03/2017 320000 2.43 320000 2.43
9 SHOSHANNA MERCANTILES PVT. LTD. 310000 2.35
01/04/2016 310000 2.35 310000 2.35
31/03/2017
10(i) DEMETER DEALERS PVT. LTD. 300000 2.28
01/04/2016 300000 2.28 300000 2.28
31/03/2017
10(ii) DOMEBELL ELECTRONICS INDIA PVT LTD
01/04/2016 300000 2.28
31/03/2017 300000 2.28 300000 2.28
Shareholding of Directors
(v)
and KMP
Shareholding at the beginning Cumulative Shareholding during the
01/04/2016 year01/04/2016-31/03/2017
No. of % of total shares
No. of shares % of total shares of the
shares of the
S. L
Name company company
No.
AVINASH CHANDRA
1 695400 5.278 695400 5.278
GUPTA
2 NARAINHARI GUPTA 77165 0.585 77165 0.585
TOTAL 772565 5.863 772565 5.863
V INDEBTEDNESS
Indebtedness of the Company including interest
outstanding/accrued but not due for payment
Secured Loans Unsecured Total
Deposits
excluding deposits Loans Indebtedness
Indebtness at the beginning of the financial year
i) Principal Amount 32339,49,203.00 6414,17,388.00 - 38753,66,591.00
ii) Interest due but not paid - - -
iii) Interest accrued but not due - - -
Total (i+ii+iii) 32339,49,203.00 6414,17,388.00 - 38753,66,591.00
Change in Indebtedness during the financial year
Additions 5810,69,148.00 433,13,976.00 - 6243,83,124.00
Reduction - - - -
Net Change 5810,69,148.00 433,13,976.00 - 6243,83,124.00
Indebtedness at the end of the financial year
i) Principal Amount - -
ii) Interest due but not paid - - -
iii) Interest accrued but not due - - -
Total (i+ii+iii) 38150,18,351.00 6847,31,364.00 - 44997,49,715.00
41
VI REMUNERATION OF DIRECTORS AND KEY

MANAGERIAL PERSONNEL
Remuneration to Managing Director, Whole time
A.
director and/or Manager:
Total
Name of the
Sl.No Particulars of Remuneration Amount
MD/WTD/Manager
(In Rs.)
N.H Gupta S.Mukherjee T.K M.
1 Gross salary A.C Gupta (M D)
(JMD) (WTD) Sanyal(WTD) Singh(WTD)
(a) Salary as per provisions contained in section
7200000 7200000 234194 1200000 240000 16074194
17(1) of the Income Tax. 1961.
(b) Value of perquisites u/s 17(2) of the Income
631260 1643060 2274320
tax Act, 1961
(c ) Profits in lieu of salary under section 17(3) of
the Income Tax Act, 1961
2 Stock option
3 Sweat Equity
4 Commission as % of profit others (specify)
5 Others, please specify
Total (A) 18348514
Ceiling as per the Act
1. Mr Somnath Mukherjee resigned from the Post
Notes:
of Whole Time Director w.e.f 29th July 2016.
2. Mr. T.K Sanyal Joined as a Executive Whole
Time Director of the company w.e.f 10th
August,2016.
3. Mr. Manmohan Singh Joined as a Executive
Whole Time Director of the company w.e.f 10th
February,2017.
B. Remuneration to other directors:
Sl.No Particulars of Remuneration Name of Directors Total Amount (In Rs.)
1 Independent Directors Mr. Asok Kumar Mrs. Prerna Priya
(a) Fee for attending board committee meetings 5000 5000 10000
(b) Commission
(c ) Others, please specify
Director Remuneration
Director Remuneration
Total (1)
2 Other Non Executive Directors
(a) Fee for attending board committee meetings
(b) Commission
(c ) Others, please specify.
Total (2)
Total (B)=(1+2)
Total Managerial Remuneration
Overall Cieling as per the Act.
REMUNERATION TO KEY MANAGERIAL PERSONNEL
C.
OTHER THAN MD/MANAGER/WTD
Sl. Key Managerial Total Amount (in
No. Personnel Rs.)
CFO Mr. Pravin CS Mr. Pankaj CS Mr. Sanjay
1 Gross Salary
Chokhani Kumar Choubey Kumar Rai
(a) Salary as per provisions contained in section 17(1) of the Income
1560000 309360 605681 2475041
Tax Act, 1961.
(b) Value of perquisites u/s 17(2) of the Income Tax Act, 1961
(c ) Profits in lieu of salary under section 17(3) of the Income Tax
Act, 1961
2 Stock Option
42
3 Sweat Equity
4 Commission as % of profit others, specify
5 Others, please specify
Total 2475041
Notes: 1. Mr. Pravin Chokhani CFO resigned from the post of CFO of the Company w.e.f 26th April 2016.
2. Mr. Pankaj Kumar Choubey , Company Secretary resigned from post of Company Secretary/ Compliance Officer
of the Company w.e.f 29th August 2016.
3. Mr. Sanjay Kumar Rai was appointed as a Company Secretary/ Compliance Officer of the company , his working
tenure was 29th August 2016 to 15th March 2017.
Disclosure of statement on declaration given by independent directors under section 149(6) [Text Block]
The Independent Directors of the Company have given the certificate of independence to the Company stating that they meet the criteria of
Independence as mentioned under Section 149(6) of the Companies Act, 2013
Disclosure for companies covered under section 178(1) on directors appointment and remuneration including other
matters provided under section 178(3) [Text Block]
from 8th December 2017. The Board places on record its appreciation and gratitude for the valuable contributions made by him during his tenure
Company.
Ajoy Kumar Chand as a Chief Financial Officer (CFO) of the Company w.e.f 27th April 2017.
43
Disclosure of statement on development and implementation of risk management policy [Text Block]
With reference to the provisions of Section 134(3) (n) of the Companies Act, 2013, the Board of Directors has developed a risk management plan
of the Company and had identified the key risk areas where the Company's business is vulnerable. The key risk areas are further categorized in
the following:-
(a) Strategic Risks,
(b) Operational Risks and
(c) Financial and Compliance related Risks.
All the strategic, operational and financial risks are duly analyzed and taken care of.
The Directors are aware of the requirement of the risk mitigation plan and are continuously making the necessary efforts to redress the impact of
the adversities
Details on policy development and implementation by company on corporate social responsibility initiatives taken
during year [Text Block]
The Company recognizes that its operations impact a wide community of stakeholders, including investors, employees, customers, business
associates and local communities and that appropriate attention to the fulfillment of these social responsibilities can enhance overall performance.
The Board of Directors of the Company, in this regard, has devised a Corporate Social Responsibility (CSR) Policy .In spite of the fact that the
provisions under Rule 8 of Companies (CSR Policy) Rules, 2014 is not applicable on the Company, in the social interest and the interest of the
weaker section at large the Company voluntarily adopted the policy of Social Corporate Responsibility.
44
Disclosure of financial summary or highlights [Text Block]
Particulars Year ended on March 31,2017 Year ended on March 31,2016
Revenue from Operations 46,948.95 55,341.10
Other Income 13.16 40.83
Total Revenue 46,962.11 55,381.94
Total Expenses 56,723.13 58,013.02
Profit/(Loss) before Exceptional and Extra-Ordinary Items and Tax (9,761.01) (2,631.08)
Exceptional Items 13.39 74.49
Profit/ (Loss) before tax (9,774.41) (2,705.57)
Profit/ (Loss) after Tax (9,777.81) (2,705.57)
45
Details of directors or key managerial personnels who were appointed or have resigned during year [Text Block]
from 8th December 2017. The Board places on record its appreciation and gratitude for the valuable contributions made by him during his tenure
Company.
Ajoy Kumar Chand as a Chief Financial Officer (CFO) of the Company w.e.f 27th April 2017
Details relating to deposits covered under chapter v of companies act [Text Block]
46
Details of deposits which are not in compliance with requirements of chapter v of act [Text Block]
Details of significant and material orders passed by regulators or courts or tribunals impacting going concern status
and company’s operations in future [Text Block]
No significant and material orders have been passed by any regulator(s) or Court(s) or Tribunal(s) impacting the going concern's status and
Companies operations in future.
Details regarding adequacy of internal financial controls with reference to financial statements [Text Block]
The Company has in place adequate internal financial controls with reference to financial statements. During the year, such controls were tested
and no reportable material weakness in the design or operation was observed.
47
Disclosure of appointment and remuneration of managerial personnels [Text Block]

Details of remuneration paid / payable to the Managing Director, Joint Managing Director and Whole Time Director of the Company for the
financial year ended 31.03.2017 are being mentioned hereunder. Rs. 5,000/- per director has been paid as sitting fee to the non-executive
directors.
Name of the Total Amount

MD/WTD/Manager (In Rs.)
N.H Gupta T.K M.

Gross salary A.C Gupta (M D)
(JMD) Sanyal(WTD) Singh(WTD)
(a) Salary as per provisions contained in section 17(1) of the

7200000 7200000 1200000 240000 15840000
Income Tax. 1961.
(b) Value of perquisites u/s 17(2) of the Income tax Act,

631260 1643060 - - 2274320
1961
Total 18114320
Disclosure of composition of audit committee and non-acceptance of any recommendation of audit committee along
with reasons [Text Block]
Smt. Prerna Priya 4 Chairperson
48
Disclosure of details of establishment of vigil mechanism [Text Block]

In pursuant to Section 177(9) of the Act, 2013 and Rules made there under, the company has in place a policy on vigil mechanism for enabling
the Directors and employees of the Company to report their genuine concerns, if any and also provides for adequate safeguards against
victimization of persons using the mechanism.
49
[400200] Disclosures - Auditors report
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Table] ..(1)
Auditor's Auditor's Clause not
Auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Axis] favourable remark unfavourable applicable
[Member] remark [Member] [Member]
01/04/2016 01/04/2016 01/04/2016
to to to
31/03/2017 31/03/2017 31/03/2017
Disclosure of auditor's qualification(s), reservation(s) or adverse
remark(s) in auditors' report [Abstract]
Disclosure of auditor's qualification(s), reservation(s) or
adverse remark(s) in auditors' report [LineItems]
Disclosure in auditors report relating to fixed assets DISCLOSED
The Company has
maintained proper
records showing full
Disclosure relating to quantitative details of fixed assets particulars, including
quantitative details
and situation of fixed
assets.
Disclosure relating to physical verification and material Textual information
discrepancies of fixed assets (21) [See below]
Textual information
Disclosure relating to title deeds of immovable properties (22) [See below]
As explained to us,
the inventories were
physically verified
during the year by
the Management at
Disclosure in auditors report relating to inventories reasonable intervals
and no material
discrepancies were
noted on physical
verification.
The Company has
not granted any
loans, secured or
unsecured, to
Companies, firm's
Disclosure in auditors report relating to loans limited liability
partnerships or other
parties covered in the
register maintained
under section 189 of
the Act, 2013.
Disclosure about loans granted to parties covered under
NA
section 189 of companies act
Disclosure relating to terms and conditions of loans granted NA
Disclosure regarding receipt of loans granted NA
Disclosure regarding terms of recovery of loans granted NA
Disclosure in auditors report relating to compliance with Textual information
Section 185 and 186 of Companies Act, 2013 (23) [See below]
Textual information
Disclosure in auditors report relating to deposits accepted (24) [See below]
Disclosure in auditors report relating to maintenance of cost Textual information
records (25) [See below]
Disclosure in auditors report relating to statutory dues [TextBlock] DISCLOSED
Disclosure relating to regularity in payment of undisputed Textual information

statutory dues [TextBlock] (26) [See below]
Textual information
Disclosure relating to disputed statutory dues [TextBlock] (27) [See below]
Disclosure in auditors report relating to default in repayment of Textual information
financial dues (28) [See below]
Disclosure in auditors report relating to public offer and Textual information
term loans used for purpose for which those were raised (29) [See below]
50
Disclosure in auditors report relating to fraud by the

Textual information
company or on the company by its officers or its (30) [See below]
employees reported during period
Textual information
Disclosure in auditors report relating to managerial remuneration (31) [See below]
The Company is not
a Nidhi Company
and hence reporting
Disclosure in auditors report relating to Nidhi Company under clause 3(xii) of
the Order is not
applicable.
Disclosure in auditors report relating to transactions with related Textual information
parties (32) [See below]
Disclosure in auditors report relating to preferential
Textual information
allotment or private placement of shares or convertible (33) [See below]
debentures
Disclosure in auditors report relating to non-cash Textual information
transactions with directors or persons connected with him (34) [See below]
The Company is not
required to be
Disclosure in auditors report relating to registration registered under
under section 45-IA of Reserve Bank of India Act, 1934 section 45-I of the
Reserve Bank of
India Act,1934.
Details regarding auditors [Table] ..(1)

Auditors [Axis] F
01/04/2016
to
31/03/2017
Details regarding auditors [Abstract]
Details regarding auditors [LineItems]
Category of auditor Auditors firm
Name of audit firm C.L.SARAF&CO
AGARWAL
Name of auditor signing report GOBINDA RAM
Firms registration number of audit firm 305115E
Membership number of auditor 016452
21-A STEPHEN
HOUSE , 4 B B D
Address of auditors BAG EAST,
KOLKATA-700001
Permanent account number of auditor or auditor's firm AADFC0191M
SRN of form ADT-1 C25592387
Date of signing audit report by auditors 29/05/2017
Date of signing of balance sheet by auditors 29/05/2017

01/04/2016
to
31/03/2017
Disclosure in auditor’s report explanatory [TextBlock] [See below]
Whether companies auditors report order is applicable on company Yes
Whether auditors' report has been qualified or has any reservations or
No
contains adverse remarks
Auditor's qualification(s), reservation(s) or adverse remark(s) in
NO ADVERSE REMARK
auditors' report
Disclosure relating to physical verification and material discrepancies of fixed assets

The fixed assets were physically verified during the year by the management in accordance with a regular programme of verification, which, in
our opinion, provides for physical verification of all the fixed assets at reasonable intervals. According to the information and explanations given
to us, no material discrepancies were noted on such verification
51
Disclosure relating to title deeds of immovable properties

According to the information and explanations given to us and the records examined by us and based on the examination of the conveyance deed
provided to us, we report that the title deeds, comprising all the immovable properties of land and buildings which are freehold, are held in the
name of the Company as at the balance sheet date.
Disclosure in auditors report relating to compliance with Section 185 and 186 of Companies Act, 2013
In our opinion and according to the information and explanations given to us, the Company has complied with the provisions of sections 185 and
186 of the Act in respect of grant of loans, making investments and providing guarantees and securities, as applicable
Disclosure in auditors report relating to deposits accepted

The Company has not accepted deposits during the year and does not have any unclaimed deposits as at 31st March,2017 and therefore, the
provisions of the clause 3 (v) of the Order are not applicable to the Company
Disclosure in auditors report relating to maintenance of cost records

We have broadly reviewed the cost records maintained by the Company pursuant to the Companies (Cost Records and Audit) Rules, 2014 as
amended prescribed by the Central Government under sub-section (1) of Section 148 of the Companies Act,2013, and are of the opinion that,
prima facie, the prescribed cost records have been maintained ,We have, however, not made a detailed examination of the cost records with a
view to determine whether they are accurate or complete
Disclosure relating to regularity in payment of undisputed statutory dues [Text Block]

The company has generally been delay in depositing undisputed statutory dues, viz. Provident Fund, Employees' State Insurance, Income Tax,
Sale Tax, Service Tax, Value Added Tax, duty of Excise, Cess and other material statutory dues applicable to it with the appropriate authorities.
(b) There were no undisputed amounts payable in respect of Provident Fund, Employees' State Insurance, Income Tax, Sale Tax, duty of
Customs, duty of Excise,Service Tax, Cess, Value Added Tax and other material statutory dues in arrears as at 31st March,2017 for a period of
more than six months from the date they become payable .
52
Disclosure relating to disputed statutory dues [Text Block]

There were no dues in respect of Sale Tax, Service Tax, Value Added Tax, duty of Excise, Cess which have not been deposited as at 31st March,
2017 on account of dispute to it , except for the cases stated below.
Amount
Relating to Forum where dispute is
Name of Statute Nature of Dues (In Lac)
the Year pending
West Bengal Commercial

Taxes Appellate &
West Bengal VAT
Dispute over Input Tax, Sales Return 79.93 2009-10 Revisional Board,
Rule, 2005.
Beliaghata Main Road,
Kolkata..
Taxes Appellate &
Central Sales Tax
Dispute over "C" Form Freight 41.23 2009-10 Revisional Board,
Act, 1956
Kolkata
West Bengal Taxation
West Bengal VAT 2011-12
Dispute over Input Tax 5.36 Tribunal, Salt Lake,
Rule, 2005.
Kolkata
West Bengal VAT
Disputed over Input Tax, reverse Credit, Purchase Tax, Sales Return 974.85 2013-14 Tribunal, Salt Lake,
Rule, 2005
Kolkata
Special Commissioner,
Central Sales Tax
Dispute over Central Freight, "C" Form 14.05 2013-14 sales Tax, Beliaghata Main
Act, 1956
Road, Kolkata
The Appellate Forum, CD2,
West Bengal VAT
Dispute over Input Tax, 328.31 2014-15 Sales Tax, LTU, Beliaghata
Rule, 2005.
Main Road, Kolkata
Central Sales Tax 2014-15
Dispute over Central Freight 8.47 Sales Tax, LTU, Beliaghata
Act, 1956
Main Road, Kolkata
West Bengal Tax
Taxes Appellate &
on Entry of Goods
Dispute Over Entry Tax 100.89 2012-13 Revisional Board,
into Local Areas
Act.2012
Kolkata
West Bengal Tax
Taxes Appellate &
on Entry of Goods
Dispute Over Entry Tax 88.12 2013.14 Revisional Board,
into Local Areas
Act.2012
Kolkata
Amount
the Year pending
West Bengal Tax Additional Commissioner

on Entry of Goods of Commercial Tax,
Dispute Over Entry Tax 64.04 2014-15
into Local Areas Beliaghata Main Road,
Act.2012 Kolkata
The Commissioner
Central Excise Act,
Demand under compound Levy Scheme . 22.85 1999-2000 (Appeal), Central Excise,
1944
Kolkata.
Central Excise Act, Custom, Excise & Service
Differential duty demanded in respect of MS Ingot transferred during the
1944 104.70 2003-2008 Tax Appellate Tribunal,
period Aug'2003 to March'2008 from SMS Unit to RMD Unit
Kolkata
2005-2006,
Central Excise Act, Demand in respect of Cenvated inputs alleged to had been cleared in the Custom, Excise & Service
2006-2007
1944 name of Waste & Scrap without paying amount equal to the Cenvat 238.60 Tax Appellate Tribunal,
&
Credit actually availed in terms of Rule 4(5) of Cenvat Credit Rule, 2004 Kolkata
2007-2008
53
Central Excise Act, Demand in respect of clearance of goods under FOR (Free on Road) April'09 to Custom, Excise & Service
1944 128.80 Tax Appellate Tribunal,
basis without inclusion value of freight to the assessable value June'13
Kolkata
1944 Demand in respect of Cenvat Credit wrongly availed 19.81 2008-2009 Tax Appellate Tribunal,
Kolkata
Demand in respect of clearance of goods without paying differential
Excise Duty.
Kolkata
Central Excise Act, The Commissioner
April'13 to
1944 Demand in respect of differential Excise Duty on Depot Sale 0.42 (Appeal), Central Excise,
Nov'13
Kolkata
Demand in respect of clearance of goods under FOR (Free on Road) July'13 to
1944 26.94 (Appeal), Central Excise,
basis without inclusion of value of freight to the assessable value. March'14
Kolkata
Amount
the Year pending
Central Excise Act, The Additional

Alleged & Imposed Penalty for issuing Excise Invoice without physically 2010-11 to
1944 56.52 Commissioner, Central
delivery of goods during FY 2010-11 to 2014-15 2014-15
Excise, Kolkata
Demand in respect of dis-allowance of Service Tax Input Credit on
1944 0.62 2014-15 (Appeal), Central Excise,
Consultancy
Kolkata
Central Excise Act, Show Cause cum Demand Notice towards Inadmissible CENVAT Credit The Commissioner
25.24
1944 due to lac of proper documents and intends to disallow. During FY 2011-12 (Appeal), Central Excise,
2011-12 Kolkata
CE Show Caused for i) Duty Liability on A/c of Shortage of FG 713.381
Central Excise Act,
Mt. ii) Duty Liability towards non payment of Excise for April & The Joint Commissioner,
1944 123.27 2014-15
March'15 iii) Irregular Availment of Cenvat Credit on Service Tax on CGST & CE Kolkata
O/w Transportation
Central Excise Act,
CE Show Cause imposing Duty Liability on Freight Collected on Sale of The Commissioner, Central
1944 62.77 2014-15
FOR basis for the period of 01.04.2014 to 31.12.2015 Excise, Kolkata
Central Excise Act, The Assistant

CE Show Cause imposing Duty Liability on Freight Collected on Sale of Jan'16 to
FOR basis for the period of 01.01.2016 to 31.03.2016 Mar'16
Excise, Kolkata
CE Show Cause imposing Duty on allegation that of availing irregular Oct'13 to
1944 28.43 Commissioner, CGST &
credit of Capital Goods during the period of October'13 to Nov'13 Nov'13
CE Kolkata
2573.70
Total:
Disclosure in auditors report relating to default in repayment of financial dues

In our opinion and according to the information and explanations given to us, the Company has defaulted in the repayment of loans or borrowings
to banks as the Bank A/cs are NPA. The Company does not have any loans or borrowings from financial institutions or government and has not
issued any debentures
Disclosure in auditors report relating to public offer and term loans used for purpose for which those were raised
The Company has not raised loans during the year. The term loans outstanding at the beginning of the year and those raised during the year have
been applied for the purposes for which they were raised and the company has not raised monies by way of initial public offer or further public
offer (including debt instruments).
54
Disclosure in auditors report relating to fraud by the company or on the company by its officers or its employees
reported during period
To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company and no fraud on the
Company by its officers or employees has been noticed or reported during the year
Disclosure in auditors report relating to managerial remuneration

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

In our opinion and according to the information and explanations given to us, the Company is in compliance with Section 177 and 188 of the Act,
where applicable, for all transactions with the related parties and the details of related party transactions have been disclosed in the standalone
financial statements as required by the applicable accounting standards
Disclosure in auditors report relating to preferential allotment or private placement of shares or convertible
debentures
During the year, the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures and
hence reporting under clause 3(xiv) of the Order is not applicable to the Company.
Disclosure in auditors report relating to non-cash transactions with directors or persons connected with him
In our opinion and according to the information and explanations given to us, during the year the Company has not entered into any non-cash
transactions with its Directors or persons connected to its Directors and hence provisions of Sections 192 of the Act are not applicable
55
Disclosure in auditor’s report explanatory [Text Block]

INDEPENDENT AUDITOR'S REPORT
TO
THE MEMBERS OF SHRI BADRINARAIN ALLOYS and STEELS LIMITED
Report on the Standalone Financial Statements
We have audited the accompanying standalone financial statements of SHRI BADRINARAIN ALLOYS and STEELS LIMITED ("the
Company"), which comprise the Balance Sheet as at 31st March, 2017, the Statement of Profit and Loss, the Cash Flow Statement for the year
then ended, and a summary of significant accounting policies and other explanatory information.
Management's Responsibility for the Standalone Financial Statements
The Company's Board of Directors is responsible for the matters stated in section 134(5) of the Companies Act, 2013 ("the Act") with respect to
the preparation of these standalone financial statements that give a true and fair view of the financial position, financial performance and Cash
Flow of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified
under section 133 of the Act, as applicable. This responsibility also includes maintenance of adequate accounting records in accordance with the
provision of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and
application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and
maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting
records, relevant to the preparation and presentation of these standalone financial statements that give a true and fair view and are free from
material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these Standalone financial statements based on our audit.
We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the
audit report under the provisions of the Act and the Rules made there under and the Order under section 143(11) of the Act.
We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the Act. Those Standards require that we
comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the standalone financial statements
are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the standalone financial statements. The
procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the standalone financial
statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the
Company's preparation of the standalone financial statements that give true and fair view in order to design audit procedures that are appropriate
in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting
estimates made by Company's Directors, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the standalone
financial statements.
Opinion
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give
the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally
56
accepted in India:
(a) in the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2017,
(b) in the case of the Profit and Loss Statement , of the Loss for the year ended on that date; and
(c)in the case of the Cash Flow Statement, of the cash flows for the year ended on that date
Report on Other Legal and Regulatory Requirements
1. As required by section 143(3) of the Act, we report that:
a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the
purposes of audit;
b) In our opinion, proper books of account as required by law relating to preparation of the standalone financial statements have been kept by the
Company so far as it appears from our examination of those books;
c) The Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement dealt with by this Report are in agreement with the books
of account maintained for the purpose of preparation of these standalone financial statements.
d) In our opinion, the aforesaid standalone financial statements comply with the Accounting Standards specified under section 133 of the Act,
as applicable. ; except
i) Accounting standards 15 on Retirement Benefit in respect of Gratuity as referred to in Note No.24 of Notes to Financial statements.
ii) Accounting standards 22 issued by the Institute of Chartered Accountants of India in respect of Deferred Tax Asset/Liability not recognized as
referred to in Note No.31 of Notes to Financial statements.
e) On the basis of written representations received from the directors as on 31st March, 2017, taken on record by the Board of Directors, none of
the Directors is disqualified as on 31st March, 2017, from being appointed as a Director in terms of section 164(2) of the Act;
f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such
controls, refer to our separate Report in 'Annexure A'. Our report expresses an unmodified opinion on the adequacy and the operating
effectiveness of the Company's internal financial controls over financial report;
g) With respect to the other matters to be included in the independent Auditor's Report in accordance with Rule 11 of the Companies (Audit
and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:
i) The Company has disclosed the impact of pending litigations on its financial position in its standalone financial statements.
ii) The company has made provision in its financial statements, as required under the applicable law or accounting standards, for material
foreseeable losses on long-term contracts including derivatives contracts.
iii) There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.
iv) The Company has provided requisite disclosures in Note No.33 to these standalone Ind AS financial statements as to the holding Specified
Bank Notes on November 8, 2016 and December 30, 2016 as well as dealings in Specified Bank Notes during the period from November 8, 2016
57
to December 30, 2016. Based on our enquiries, test check of the books of account and other details maintained by the Company and relying on the
management representation regarding the holding and nature of cash transactions, including Specified Bank Notes, we report that these
disclosures are in accordance with the books of accounts maintained by the Company.
2. As required by the Companies (Auditor's Report) Order, 2016 ("the Order") issued by the Central Government of India in terms of section 143
(11) of the Act we give in the Annexure B statement on the matters specified in paragraphs 3 and 4 of the order to the extent applicable.
For C. L. SARAF and CO.
Firm Reg. No. 305115E
21-A, Stephen House Chartered Accountants
4, B. B. D. Bag East
Kolkata-700 001 ( G. R. AGARWAL)
Dated: the 29th May , 2017 Partner
Membership No. 016452
ANNEXURE 'A' TO THE INDEPENDENT AUDITOR' S REPORT
(Referred to in paragraph 1(f) under 'Report on Other Legal and Regulatory Requirements' of our report of even date)
Report on the Internal Financial Controls Over Financial Reporting under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013
("the Act")
We have audited the internal financial controls over financial reporting of SHRI BADRINARAIN ALLOYS and STEELS LIMITED ("the
Company"), as at 31st March, 2017 in conjunction with our audit of the standalone financial Statements of the Company for the year then ended
and as on that date.
Management's Responsibility for internal Financial Controls
The Company's management is responsible for establishing and maintaining internal financial controls based on the internal control over financial
reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of
Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India (the 'Guidance Note'). These
responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for
ensuring the orderly and efficient conduct of business, including adherence to Company's policies, the safeguarding of its assets, the prevention
and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial
information, as required under the Act.
Auditor's Responsibility
Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit.
58
We conducted our audit in accordance with the Standards on Auditing prescribed under section 143(10) of the Act and the Guidance Note, to the
extent applicable to an audit of internal financial control. Those Standards and the Guidance Note require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial
reporting was established and maintained and such controls operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial
reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of
internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and
operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor's judgment, including the
assessment of the risks of material misstatement of the standalone financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company's
internal financial controls system over financial reporting.
Meaning of Internal Financial Controls Over Financial Reporting
A company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.
A company's internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of
records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide
reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally
accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of
management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized
acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements.
Inherent Limitations of Internal Financial Controls Over Financial Reporting
Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper
management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation
of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial controls over financial
reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may
deteriorate.
Opinion
In our opinion, to the best of our information and according to the explanations given to us, the Company has, in all material respects, an adequate
internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively
as at 31st March, 2017, based on the internal control over financial reporting criteria established by the Company considering the essential
components of internal control stated in the Guidance Note.
Dated: the 29th May, 2017 Partner
59
Membership No. 016452.
ANNEXURE 'B' TO THE INDEPENDENT AUDITOR'S REPORT
(Referred to in paragraph 2 under 'Report on Other Legal and Regulatory Requirements' section of our report of even date) Report on Companies
(Auditor's Report) Order, 2016 ('the Order') issued by the Central Government in terms of Section 143(11) of the Companies Act, 2013 ('the Act')
of SHRI BADRINARAIN ALLOYS and STEELS LIMITED ("the Company"),
(1) In respect of the Company's fixed assets:
a. The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets.
b.The fixed assets were physically verified during the year by the management in accordance with a regular programme of verification, which, in
our opinion, provides for physical verification of all the fixed assets at reasonable intervals. According to the information and explanations given
to us, no material discrepancies were noted on such verification.
c. According to the information and explanations given to us and the records examined by us and based on the examination of the conveyance
deed provided to us, we report that the title deeds, comprising all the immovable properties of land and buildings which are freehold, are held in
the name of the Company as at the balance sheet date.
(2) As explained to us, the inventories were physically verified during the year by the Management at reasonable intervals and no material
discrepancies were noted on physical verification.
(3) The Company has not granted any loans, secured or unsecured, to Companies, firm's limited liability partnerships or other parties covered in
the register maintained under section 189 of the Act, 2013.
(4) In our opinion and according to the information and explanations given to us, the Company has complied with the provisions of sections 185
and 186 of the Act in respect of grant of loans, making investments and providing guarantees and securities, as applicable.
(5) The Company has not accepted deposits during the year and does not have any unclaimed deposits as at 31st March,2017 and therefore, the
provisions of the clause 3 (v) of the Order are not applicable to the Company.
(6)We have broadly reviewed the cost records maintained by the Company pursuant to the Companies (Cost Records and Audit) Rules, 2014 as
amended prescribed by the Central Government under sub-section (1) of Section 148 of the Companies Act,2013, and are of the opinion that,
prima facie, the prescribed cost records have been maintained ,We have, however, not made a detailed examination of the cost records with a
view to determine whether they are accurate or complete.
(7) According to the information given to us, in respect of statutory dues:
(a) The company has generally been delay in depositing undisputed statutory dues, viz. Provident Fund, Employees' State Insurance, Income Tax,
Sale Tax, Service Tax, Value Added Tax, duty of Excise, Cess and other material statutory dues applicable to it with the appropriate authorities.
(b) There were no undisputed amounts payable in respect of Provident Fund, Employees' State Insurance, Income Tax, Sale Tax, duty of
Customs, duty of Excise,Service Tax, Cess, Value Added Tax and other material statutory dues in arrears as at 31st March,2017 for a period of
more than six months from the date they become payable .
(c) There were no dues in respect of Sale Tax, Service Tax, Value Added Tax, duty of Excise, Cess which have not been deposited as at 31st
March, 2017 on account of dispute to it , except for the cases stated below:
Amount
the Year pending
60

West Bengal VAT Taxes Appellate and
Dispute over Input Tax, Sales Return 79.93 2009-10
Rule, 2005. Revisional Board,
Kolkata..
Taxes Appellate and
Central Sales Tax
Dispute over "C" Form Freight 41.23 2009-10 Revisional Board,
Act, 1956
Kolkata
West Bengal VAT 2011-12
Dispute over Input Tax 5.36 Tribunal, Salt Lake, Kolkata
Rule, 2005.

West Bengal VAT
Disputed over Input Tax, reverse Credit, Purchase Tax, Sales Return 974.85 2013-14 Tribunal, Salt Lake, Kolkata
Rule, 2005
Special Commissioner, sales

Central Sales Tax
Dispute over Central Freight, "C" Form 14.05 2013-14 Tax, Beliaghata Main Road,
Act, 1956
Kolkata
West Bengal VAT
Dispute over Input Tax, 328.31 2014-15 Sales Tax, LTU, Beliaghata
Rule, 2005.
Main Road, Kolkata
Central Sales Tax 2014-15
Dispute over Central Freight 8.47 Sales Tax, LTU, Beliaghata
Act, 1956
Main Road, Kolkata
West Bengal Tax
Taxes Appellate and
on Entry of Goods
Dispute Over Entry Tax 100.89 2012-13 Revisional Board,
into Local Areas
Act.2012
Kolkata
West Bengal Tax
Taxes Appellate and
on Entry of Goods
Dispute Over Entry Tax 88.12 2013.14 Revisional Board,
into Local Areas
Act.2012
Kolkata
Amount
the Year pending
West Bengal Tax

Additional Commissioner of
on Entry of Goods
Dispute Over Entry Tax 64.04 2014-15 Commercial Tax, Beliaghata
into Local Areas
Main Road, Kolkata
Act.2012
The Commissioner
Central Excise Act,
Demand under compound Levy Scheme . 22.85 1999-2000 (Appeal), Central Excise,
1944
Kolkata.
Central Excise Act, Custom, Excise and Service
Differential duty demanded in respect of MS Ingot transferred during the
period Aug'2003 to March'2008 from SMS Unit to RMD Unit
Kolkata
Demand in respect of Cenvated inputs alleged to had been cleared in the 2005-2006,
name of Waste and Scrap without paying amount equal to the Cenvat 2006-2007
Credit actually availed in terms of Rule 4(5) of Cenvat Credit Rule, 2004 and
Kolkata
2007-2008
Demand in respect of clearance of goods under FOR (Free on Road) April'09 to
basis without inclusion value of freight to the assessable value June'13
Kolkata
1944 Demand in respect of Cenvat Credit wrongly availed 19.81 2008-2009 Tax Appellate Tribunal,
Kolkata
Demand in respect of clearance of goods without paying differential
Excise Duty.
Kolkata
April'13 to
1944 Demand in respect of differential Excise Duty on Depot Sale 0.42 (Appeal), Central Excise,
Nov'13
Kolkata
Demand in respect of clearance of goods under FOR (Free on Road) July'13 to
1944 26.94 (Appeal), Central Excise,
61
basis without inclusion of value of freight to the assessable value. March'14 Kolkata
Amount
the Year pending
Central Excise Act, The Additional

Alleged and Imposed Penalty for issuing Excise Invoice without 2010-11 to
physically delivery of goods during FY 2010-11 to 2014-15 2014-15
Excise, Kolkata
Demand in respect of dis-allowance of Service Tax Input Credit on
1944 0.62 2014-15 (Appeal), Central Excise,
Consultancy
Kolkata
Central Excise Act, Show Cause cum Demand Notice towards Inadmissible CENVAT Credit The Commissioner
25.24
1944 due to lac of proper documents and intends to disallow. During FY 2011-12 (Appeal), Central Excise,
2011-12 Kolkata
CE Show Caused for i) Duty Liability on A/c of Shortage of FG 713.381
Central Excise Act,
Mt. ii) Duty Liability towards non payment of Excise for April and The Joint Commissioner,
1944 123.27 2014-15
March'15 iii) Irregular Availment of Cenvat Credit on Service Tax on CGST and CE Kolkata
O/w Transportation
Central Excise Act,
CE Show Cause imposing Duty Liability on Freight Collected on Sale of The Commissioner, Central
1944 62.77 2014-15
FOR basis for the period of 01.04.2014 to 31.12.2015 Excise, Kolkata

CE Show Cause imposing Duty Liability on Freight Collected on Sale of Jan'16 to
FOR basis for the period of 01.01.2016 to 31.03.2016 Mar'16
Excise, Kolkata
CE Show Cause imposing Duty on allegation that of availing irregular Oct'13 to
1944 28.43 Commissioner, CGST and
credit of Capital Goods during the period of October'13 to Nov'13 Nov'13
CE Kolkata
2573.70
Total:
(8) In our opinion and according to the information and explanations given to us, the Company has defaulted in the repayment of loans or
borrowings to banks as the Bank A/cs are NPA. The Company does not have any loans or borrowings from financial institutions or government
and has not issued any debentures.
(9) The Company has not raised loans during the year. The term loans outstanding at the beginning of the year and those raised during the year
have been applied for the purposes for which they were raised and the company has not raised monies by way of initial public offer or further
public offer (including debt instruments).
(10) To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company and no fraud on the
Company by its officers or employees has been noticed or reported during the year.
(11) In our opinion and according to the information and explanations given to us, the Company has paid / provided managerial remuneration in
accordance with the requisite approvals mandated by the provisions of Section 197 read with Schedule V to the Act.
(12) The Company is not a Nidhi Company and hence reporting under clause 3(xii) of the Order is not applicable.
(13) In our opinion and according to the information and explanations given to us, the Company is in compliance with Section 177 and 188 of the
Act, where applicable, for all transactions with the related parties and the details of related party transactions have been disclosed in the
standalone financial statements as required by the applicable accounting standards.
(14) During the year, the Company has not made any preferential allotment or private placement of shares or fully or partly convertible
debentures and hence reporting under clause 3(xiv) of the Order is not applicable to the Company.
(15) In our opinion and according to the information and explanations given to us, during the year the Company has not entered into any
non-cash transactions with its Directors or persons connected to its Directors and hence provisions of Sections 192 of the Act are not applicable.
(16) The Company is not required to be registered under section 45-I of the Reserve Bank of India Act,1934.
62
Dated: the 29th May , 2017 Partner
Membership No. 016452.
[400500] Disclosures - Secretarial audit report
Details of signatories of secretarial audit report [Table] ..(1)

Signatories of secretarial audit report [Axis] A
01/04/2016
to
31/03/2017
Details of signatories of secretarial audit report [Abstract]
Details of signatories of secretarial audit report [LineItems]
Secretarial auditors
Category of secretarial auditor firm
S DEEPAK &
Name of secretarial audit firm ASSOCIATES
Name of secretarial auditor signing report DEEPAK SWAIN
Membership number of secretarial auditor 25625
Certificate of practice number of secretarial auditor 9131
7A, BANTINCK
ST(NEW WING),
Address of secretarial auditors 1ST FLOOR,
ROOM NO-101,
KOLKATA-700001
Permanent account number of secretarial auditor or secretarial auditors firm BLGPS2071H
Date of signing secretarial audit report 14/11/2017

01/04/2016
to
31/03/2017
Disclosure in secretarial audit report explanatory [TextBlock] [See below]
Whether secretarial audit report is applicable on company Yes
Whether secretarial audit report has been qualified or has any
Yes
observation or other remarks
The Constitution of
Nomination and
Secretarial qualifications or observations or other remarks in
Remuneration Committee
secretarial audit report is not as per SEBI (LODR)
Regulations, 2015
63
Disclosure in secretarial audit report explanatory [Text Block]

Annexure: I
Form No. MR-3
SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED 31ST MARCH 2017
[Pursuant to Section 204(1) of the Companies Act, 2013 and Rule No.9 of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014]
To
The Members,
6/2, MOIRA STREET
KOLKATA-700017
We have conducted the secretarial audit of the compliances of applicable statutory provisions and the adherence to good corporate practices by
SHRI BADRINARAIN ALLOYS and STEEL LTD. (hereinafter called the Company). Secretarial Audit was conducted in a manner that provided
us a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing our opinion thereon.
Based on our verification of the Company's books , papers, minute books, forms and returns filed and other records maintained by the Company
and also information provided by the Company , its officers , agents and authorised representatives during the conduct of secretarial Audit ,we
hereby report that in our opinion , the Company has during the audit period covering the financial year ended on 31st March, 2017 complied with
the statutory provisions listed hereunder and also that the Company has proper Board processes and compliance-mechanism in place to the extent
, in the manner and subject to the reporting made hereinafter:
We have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company for the financial year
ended on 31st March, 2017 according to the provisions of:
(i) The Companies Act , 2013 (The Act) and the rules made thereunder;
(ii) The Securities Contracts (Regulation) Act, 1956 ('SCRA') and the rules made thereunder;
(iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;
(iv) Foreign Exchange Management Act, 1999 and Rules and regulations made thereunder to the extent of Foreign Direct Investment, Overseas
Direct Investment and External Commercial Borrowings;
64
(v) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act , 1992 ('SEBI Act'):-
(a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. (Not applicable to the
(b) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;
(c) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009. (Not applicable to the
(d) The Securities and Exchange Board of India (Share based Employee Benefits) Regulations, 2014;
(e) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008 (Not applicable to the Company during
the Audit Period);
(f) The Securities Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies Act
and dealing with the client. (Not applicable to the Company during the Audit Period);
(g) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 (Not applicable to the Company during the Audit
Period); and
(h) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998. (Not applicable to the Company during the Audit
Period).
(vi) We have relied on the representation made by the Company and its officers for systems and mechanism formed by the Company for
compliances of the specific laws applicable specifically to the Company:
We have also examined compliances with the applicable clauses of the following:
(i) Secretarial Standards issued by The Institute of Company Secretaries of India.
(ii) The Listing Agreement entered into by the Company with The Calcutta Stock Exchange Limited.
We have not examined compliance by the Company with applicable financial laws, like direct and indirect laws, since the same have been subject
to review during statutory financial audit and by other designated professionals.
During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc.
mentioned above.
We further report that
The Board of Directors of the Company is duly constituted. The changes in the composition of the Board of Directors that took place during the
period under review were carried out in compliance with the provisions of the Act.
Adequate notice is given to all directors to schedule Board Meetings, agenda and detailed notes on agenda were sent at least seven days in
advance, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for
meaningful participation at the meeting.
All decisions at Board Meetings were carried out unanimously as recorded in the minutes of the meetings of the Board of Directors.
Matter of Emphasis
65
Pursuant to Section 152(6) of the Act, 2/3rds of the total directors ( except Independent Directors) of a Company shall be rotational directors.
Thus, while the Company needed 3 (Three) rotational directors, it had only 2 (Two) rotational directors on its Board.
We further report that there are adequate systems and processes in the company commensurate with the size and operations of the company to
monitor and ensure compliance with applicable laws, rules, regulations and guidelines
We further report that during the audit period there was no event/action having a major bearing on the Company's affairs in pursuance of the
above referred laws, rules, regulations, guidelines subject to the following remarks
1- The Constitution of Nomination and Remuneration Committee is not as per SEBI (LODR) Regulations, 2015.
This report is to be read with our letter of even date which is annexed as Annexure A and forms an integral part of this report.
Company Secretaries
CS Deepak Swain
Place: Kolkata Proprietor
Annexure-A
To
The Members,
6/2, MOIRA STREET,
KOLKATA-700017
Our report of even date is to be read along with this letter.
1. Maintenance of secretarial record is the responsibility of the management of the Company. Our responsibility is to express an opinion on these
secretarial records based on our audit.
2. We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness of the contents of
the secretarial record. The verification was done on the test basis to ensure that corrects facts are reflected in secretarial records. We believe that
the process and practices, we followed provide a reasonable basis for our opinion.
3. We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company.
4. Where ever required, we have obtained the Management representation about the compliance of Laws, rules and regulations and happening of
66
the events etc.
5. The compliance of the provision of corporate and other applicable laws, rules, regulations, standards is the responsibility of the management.
Our examination was limited to the verification of procedure on test basis.
6. The Secretarial Audit report is neither an assurance as to the future viability of the company nor of the efficacy or effectiveness with which the
management has conducted the affairs of the Company.
Company Secretaries
Proprietor
67
[100100] Balance sheet

31/03/2017 31/03/2016
Balance sheet [Abstract]
Equity and liabilities [Abstract]
Shareholders' funds [Abstract]
Share capital 28,75,34,500 28,75,34,500
Reserves and surplus -139,83,16,390 -42,05,35,381
Total shareholders' funds -111,07,81,890 -13,30,00,881
Share application money pending allotment 0 0
Non-current liabilities [Abstract]
Long-term borrowings 203,43,34,787 194,80,77,968
Other long-term liabilities 72,70,88,985 18,44,27,926
Long-term provisions 0 0
Total non-current liabilities 276,14,23,772 213,25,05,894
Current liabilities [Abstract]
Short-term borrowings 246,54,14,928 192,72,88,623
Trade payables 85,56,60,249 74,47,73,048
Other current liabilities 58,88,72,790 17,70,48,879
Short-term provisions 0 0
Total current liabilities 390,99,47,967 284,91,10,550
Total equity and liabilities 556,05,89,849 484,86,15,563
Assets [Abstract]
Non-current assets [Abstract]
Fixed assets [Abstract]
Tangible assets 74,00,75,314 81,45,66,566
Intangible assets 0 0
Tangible assets capital work-in-progress 0 0
Intangible assets under development or work-in-progress 0 0
Total fixed assets 74,00,75,314 81,45,66,566
Non-current investments 4,76,40,505 4,76,40,505
Long-term loans and advances 0 0
Total non-current assets 78,77,15,819 86,22,07,071
Current assets [Abstract]
Current investments 0 0
Inventories 144,64,87,352 192,35,30,455
Trade receivables 277,91,26,749 186,33,88,661
Cash and bank balances 2,34,47,077 6,54,98,844
Short-term loans and advances 12,43,61,253 13,39,90,532
Other current assets 39,94,51,599 0
Total current assets 477,28,74,030 398,64,08,492
Total assets 556,05,89,849 484,86,15,563
68
[400300] Disclosures - Signatories of financial statements
Details of directors signing financial statements [Table] ..(1)

Directors signing financial statements [Axis] AVINASHCHANDRAGUPTA NARAINHARIGUPTA
01/04/2016 01/04/2016
to to
31/03/2017 31/03/2017
Details of signatories of financial statements [Abstract]
Details of directors signing financial statements [Abstract]
Details of directors signing financial statements [LineItems]
Name of director signing financial statements [Abstract]
First name of director AVINASH NARAIN
Middle name of director CHANDRA HARI
Last name of director GUPTA GUPTA
Designation of director Managing Director Jt Managing Director
Director identification number of director 00029546 00038819
Date of signing of financial statements by director 29/05/2017 29/05/2017

01/04/2016
to
31/03/2017
Name of company secretary ASHUTOSH SHARMA
Permanent account number of company secretary BFOPS9730K
Date of signing of financial statements by company secretary 29/05/2017
Name of chief financial officer AJAY KUMAR CHAND
Permanent account number of chief financial officer ABWPC5542N
Date of signing of financial statements by chief financial officer 29/05/2017
69
[100400] Cash flow statement, indirect

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Statement of cash flows [Abstract]
Whether cash flow statement is applicable on company Yes Yes
Cash flows from used in operating activities [Abstract]
Profit before extraordinary items and tax -97,74,40,849 -27,05,56,661
Adjustments for reconcile profit (loss) [Abstract]
Adjustments to profit (loss) [Abstract]
Adjustments for finance costs 27,77,03,111 34,17,79,850
Adjustments for depreciation and amortisation expense 13,92,57,474 11,83,69,435
Other adjustments to reconcile profit (loss) 1,16,705 7,73,403
Total adjustments to profit (loss) 41,70,77,290 46,09,22,688
Adjustments for working capital [Abstract]
Adjustments for decrease (increase) in inventories 47,70,43,103 8,16,76,232
Adjustments for decrease (increase) in trade receivables -91,57,38,088 10,09,91,342
Adjustments for decrease (increase) in other current assets 96,29,279 -2,92,14,398
Adjustments for increase (decrease) in trade payables 106,53,72,171 -50,57,34,983
Total adjustments for working capital 63,63,06,465 -35,22,81,807
Total adjustments for reconcile profit (loss) 105,33,83,755 10,86,40,881
Net cash flows from (used in) operations 7,59,42,906 -16,19,15,780
Interest paid 27,77,03,111 34,17,79,850
Income taxes paid (refund) 3,40,160 0
Net cash flows from (used in) operating activities before extraordinary
-20,21,00,365 -50,36,95,630
items
Net cash flows from (used in) operating activities -20,21,00,365 -50,36,95,630
Cash flows from used in investing activities [Abstract]
Other cash receipts from sales of equity or debt instruments of other
0 0
entities
Other cash payments to acquire equity or debt instruments of other
0 0
entities
Proceeds from sales of tangible assets 6,47,619 6,42,856
Purchase of tangible assets 6,55,30,546 18,35,47,090
Dividends received 0 0
Interest received 0 0
Other inflows (outflows) of cash -39,94,51,599 7,17,86,118
Net cash flows from (used in) investing activities before extraordinary
-46,43,34,526 -11,11,18,116
items
Net cash flows from (used in) investing activities -46,43,34,526 -11,11,18,116
Cash flows from used in financing activities [Abstract]
Proceeds from issuing shares 0 0
Proceeds from borrowings 62,43,83,124 61,67,06,496
Other inflows (outflows) of cash 0 0
Net cash flows from (used in) financing activities before extraordinary
62,43,83,124 61,67,06,496
items
Net cash flows from (used in) financing activities 62,43,83,124 61,67,06,496
Net increase (decrease) in cash and cash equivalents before effect of
-4,20,51,767 18,92,750
exchange rate changes
Net increase (decrease) in cash and cash equivalents -4,20,51,767 18,92,750
Cash and cash equivalents cash flow statement at end of period 2,34,47,077 6,54,98,844
70
[200100] Notes - Share capital
Disclosure of classes of share capital [Table] ..(1)

Classes of share capital [Axis] Share capital [Member] Equity shares [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Disclosure of classes of share capital [Abstract]
Disclosure of classes of share capital [LineItems]
Number of shares authorised [shares] 3,49,10,000 [shares] 3,49,10,000 [shares] 1,43,21,000 [shares] 1,43,21,000
Value of shares authorised 35,00,00,000 35,00,00,000 14,32,10,000 14,32,10,000
Number of shares issued [shares] 2,87,53,450 [shares] 2,87,53,450 [shares] 1,31,74,450 [shares] 1,31,74,450
Value of shares issued 28,75,34,500 28,75,34,500 13,17,44,500 13,17,44,500
Number of shares subscribed and fully paid [shares] 2,87,53,450 [shares] 2,87,53,450 [shares] 1,31,74,450 [shares] 1,31,74,450
Value of shares subscribed and fully paid 28,75,34,500 28,75,34,500 13,17,44,500 13,17,44,500
Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0 0 0
Total number of shares subscribed [shares] 2,87,53,450 [shares] 2,87,53,450 [shares] 1,31,74,450 [shares] 1,31,74,450
Total value of shares subscribed 28,75,34,500 28,75,34,500 13,17,44,500 13,17,44,500
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 2,87,53,450 [shares] 2,87,53,450 [shares] 1,31,74,450 [shares] 1,31,74,450
Value of shares called 28,75,34,500 28,75,34,500 13,17,44,500 13,17,44,500
Calls unpaid [Abstract]
Calls unpaid by directors and officers
[Abstract]
Calls unpaid by directors 0 0 0 0
Calls unpaid by officers 0 0 0 0
Total calls unpaid by directors and
0 0 0 0
officers
Calls unpaid by others 0 0 0 0
Total calls unpaid 0 0 0 0
Forfeited shares 0 0 0 0
Forfeited shares reissued 0 0 0 0
Value of shares paid-up 28,75,34,500 28,75,34,500 13,17,44,500 13,17,44,500
Reconciliation of number of shares outstanding
[Abstract]
Changes in number of shares outstanding
[Abstract]
Increase in number of shares outstanding
[Abstract]
Number of shares issued in public offering [shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued as bonus shares [shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued as rights [shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued in private
placement arising out of conversion of
[shares] 0 [shares] 0 [shares] 0 [shares] 0
debentures preference shares during
period
Number of shares issued in other private
placement
Number of shares issued as preferential
allotment arising out of conversion of
period
Number of shares issued as other
preferential allotment
Number of shares allotted for
contracts without payment received [shares] 0 [shares] 0 [shares] 0 [shares] 0
in cash
Number of shares issued under scheme of
amalgamation
Number of other issues of shares [shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued under employee
stock option plan
71
Number of other issue of shares

arising out of conversion of [shares] 0 [shares] 0 [shares] 0 [shares] 0
securities
Total aggregate number of shares issued
during period
Decrease in number of shares during period
[Abstract]
Number of shares redeemed [shares] 0 [shares] 0
Number of shares bought back [shares] 0 [shares] 0 [shares] 0 [shares] 0
Other decrease in number of shares [shares] 0 [shares] 0 [shares] 0 [shares] 0
Total decrease in number of shares during
period
Total increase (decrease) in number of
shares outstanding
Number of shares outstanding at end of period [shares] 2,87,53,450 [shares] 2,87,53,450 [shares] 1,31,74,450 [shares] 1,31,74,450
Reconciliation of value of shares outstanding
[Abstract]
Changes in share capital [Abstract]
Increase in share capital during period
[Abstract]
Amount of public issue during period 0 0 0 0
Amount of bonus issue during period 0 0 0 0
Amount of rights issue during period 0 0 0 0
Amount of private placement issue
arising out of conversion of debentures 0 0 0 0
preference shares during period
Amount of other private placement issue
0 0 0 0
during period
Amount of preferential allotment issue
Amount of other preferential allotment
0 0 0 0
issue during period
Amount of issue allotted for
contracts without payment 0 0 0 0
received in cash during period
Amount of issue under scheme of
0 0 0 0
amalgamation during period
Amount of other issues during period 0 0 0 0
Amount of employee stock option plan
0 0 0 0
issued during period
Amount of other issue arising out of
conversion of securities during 0 0 0 0
period
Total aggregate amount of increase in
0 0 0 0
share capital during period
Decrease in share capital during period
[Abstract]
Decrease in amount of shares redeemed 0 0
Decrease in amount of shares bought back 0 0 0 0
Other decrease in amount of shares 0 0 0 0
Total decrease in share capital during
0 0 0 0
period
Total increase (decrease) in share capital 0 0 0 0
Share capital at end of period 28,75,34,500 28,75,34,500 13,17,44,500 13,17,44,500
Rights preferences and restrictions attaching
NA NA NA NA
to class of share capital
Shares in company held by holding company or
ultimate holding company or by its subsidiaries
or associates [Abstract]
Shares in company held by holding company [shares] 0 [shares] 0 [shares] 0 [shares] 0
Shares in company held by ultimate holding
company
Shares in company held by subsidiaries of its
holding company
ultimate holding company
Shares in company held by associates of its
holding company
72

Total shares in company held by holding company
or ultimate holding company or by its [shares] 0 [shares] 0 [shares] 0 [shares] 0
subsidiaries or associates
Shares reserved for issue under options
and contracts or commitments for sale of [shares] 0 [shares] 0 [shares] 0 [shares] 0
shares or disinvestment
Amount of shares reserved for issue under options
and contracts or commitments for sale of shares or 0 0 0 0
disinvestment
Description of terms of shares reserved for issue
under options and contracts or commitments for 0 0 0 0
sale of shares or disinvestment
Aggregate number of fully paid-up shares issued
pursuant to contracts without payment being [shares] 0 [shares] 0 [shares] 0 [shares] 0
received in cash during last five years
Aggregate number of fully paid-up shares
issued by way of bonus shares during last [shares] 0 [shares] 0 [shares] 0 [shares] 0
five years
Aggregate number of shares bought back during
last five years
Original paid-up value of forfeited shares 0 0 0 0
Details of application money received for
allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of
securities and due for refund and interest
accrued thereon [Abstract]
Application money received for
allotment of securities and due for 0 0 0 0
refund, principal
refund, interest accrued
Total application money received for
allotment of securities and due for refund 0 0 0 0
and interest accrued thereon
Terms and conditions of shares pending allotment NA NA NA NA
Number of shares proposed to be issued [shares] 0 [shares] 0 [shares] 0 [shares] 0
Share premium for shares to be allotted 0 0 0 0
Description of whether company have
sufficient authorised capital to cover
NA NA NA NA
proposed share capital amount resulting from
allotment
Over due period for which application
money is pending prior to allotment of NA NA NA NA
shares
Reason for over due period for which
application money is pending prior to NA NA NA NA
allotment of shares
73

Classes of share capital [Axis] Equity shares 1 [Member] Preference shares [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Type of share Eq Eq
Number of shares authorised [shares] 1,43,21,000 [shares] 1,43,21,000 [shares] 2,05,89,000 [shares] 2,05,89,000
Value of shares authorised 14,32,10,000 14,32,10,000 20,67,90,000 20,67,90,000
Number of shares issued [shares] 1,31,74,450 [shares] 1,31,74,450 [shares] 1,55,79,000 [shares] 1,55,79,000
Value of shares issued 13,17,44,500 13,17,44,500 15,57,90,000 15,57,90,000
Number of shares subscribed and fully paid [shares] 1,31,74,450 [shares] 1,31,74,450 [shares] 1,55,79,000 [shares] 1,55,79,000
Value of shares subscribed and fully paid 13,17,44,500 13,17,44,500 15,57,90,000 15,57,90,000
Total number of shares subscribed [shares] 1,31,74,450 [shares] 1,31,74,450 [shares] 1,55,79,000 [shares] 1,55,79,000
Total value of shares subscribed 13,17,44,500 13,17,44,500 15,57,90,000 15,57,90,000
Number of shares paid-up [shares] 1,31,74,450 [shares] 1,31,74,450 [shares] 1,55,79,000 [shares] 1,55,79,000
Value of shares called 13,17,44,500 13,17,44,500 15,57,90,000 15,57,90,000
[Abstract]
0 0 0 0
officers
Value of shares paid-up 13,17,44,500 13,17,44,500 15,57,90,000 15,57,90,000
Par value per share [INR/shares] 10 [INR/shares] 10
Amount per share called in case shares not fully
[INR/shares] 0 [INR/shares] 0
called
[Abstract]
[Abstract]
[Abstract]
Number of shares issued as rights [shares] 0 [shares] 0
period
placement
period
in cash
amalgamation
stock option plan
74

securities
during period
[Abstract]
Number of shares redeemed [shares] 0 [shares] 0
period
shares outstanding
Number of shares outstanding at end of period [shares] 1,31,74,450 [shares] 1,31,74,450 [shares] 1,55,79,000 [shares] 1,55,79,000
[Abstract]
[Abstract]
Amount of rights issue during period 0 0
0 0 0 0
during period
0 0 0 0
issue during period
0 0 0 0
0 0 0 0
period
0 0 0 0
[Abstract]
Decrease in amount of shares redeemed 0 0
0 0 0 0
period
Share capital at end of period 13,17,44,500 13,17,44,500 15,57,90,000 15,57,90,000
NA NA NA NA
company
holding company
holding company
75

disinvestment
five years
last five years
refund, principal
NA NA NA NA
allotment
shares
allotment of shares
76

Classes of share capital [Axis] Preference shares 1 [Member] Preference shares 2 [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
9 % Non convertible 9 % Non convertible
2% Redemable Non 2% Redemable Non
Non Cumulative Non Cumulative
Type of share Cumulative Cumulative
Redeemable Redeemable
Preference shares Preference shares
preference shares preference shares
Number of shares authorised [shares] 10,000 [shares] 10,000 [shares] 2,05,79,000 [shares] 2,05,79,000
Value of shares authorised 10,00,000 10,00,000 20,57,90,000 20,57,90,000
Number of shares issued [shares] 0 [shares] 0 [shares] 1,55,79,000 [shares] 1,55,79,000
Value of shares issued 0 0 15,57,90,000 15,57,90,000
Number of shares subscribed and fully paid [shares] 0 [shares] 0 [shares] 1,55,79,000 [shares] 1,55,79,000
Value of shares subscribed and fully paid 0 0 15,57,90,000 15,57,90,000
Total number of shares subscribed [shares] 0 [shares] 0 [shares] 1,55,79,000 [shares] 1,55,79,000
Total value of shares subscribed 0 0 15,57,90,000 15,57,90,000
Number of shares paid-up [shares] 0 [shares] 0 [shares] 1,55,79,000 [shares] 1,55,79,000
Value of shares called 0 0 15,57,90,000 15,57,90,000
[Abstract]
0 0 0 0
officers
Value of shares paid-up 0 0 15,57,90,000 15,57,90,000
Par value per share [INR/shares] 100 [INR/shares] 100 [INR/shares] 10 [INR/shares] 10
Amount per share called in case shares not fully
[INR/shares] 0 [INR/shares] 0 [INR/shares] 0 [INR/shares] 0
called
[Abstract]
[Abstract]
[Abstract]
period
placement
period
in cash
amalgamation
77

stock option plan
securities
during period
[Abstract]
Number of shares redeemed [shares] 0 [shares] 0 [shares] 0 [shares] 0
period
shares outstanding
Number of shares outstanding at end of period [shares] 0 [shares] 0 [shares] 1,55,79,000 [shares] 1,55,79,000
[Abstract]
[Abstract]
0 0 0 0
during period
0 0 0 0
issue during period
0 0 0 0
0 0 0 0
period
0 0 0 0
[Abstract]
Decrease in amount of shares redeemed 0 0 0 0
0 0 0 0
period
Share capital at end of period 0 0 15,57,90,000 15,57,90,000
NA NA NA NA
company
holding company
holding company
78

disinvestment
five years
last five years
refund, principal
NA NA NA NA
allotment
shares
allotment of shares
79
Disclosure of shareholding more than five per cent in company [Table] ..(1)
Classes of share capital [Axis] Equity shares 1 [Member]
Name of shareholder [Axis] Shareholder 1 [Member] Shareholder 2 [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Disclosure of shareholding more than five per cent in
company [Abstract]
Disclosure of shareholding more than five per cent
in company [LineItems]
Type of share EQ EQ EQ EQ
AVINASH AVINASH
ELECTROCOKE FUELS ELECTROCOKE FUELS
Name of shareholder CHANDRA CHANDRA
LTD. LTD.
GUPTA GUPTA
CIN of shareholder U23109WB1995PLC074434 U23109WB1995PLC074434
PAN of shareholder ADWPG5103F ADWPG5103F AAACE6355K AAACE6355K
Country of incorporation or residence of
INDIA INDIA INDIA INDIA
shareholder
Number of shares held in company [shares] 6,95,400 [shares] 6,95,400 [shares] 8,11,375 [shares] 8,11,375
Percentage of shareholding in company 5.00% 5.00% 6.00% 6.00%
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Disclosure of shareholding more than
five per cent in
company [Abstract]
five per cent
LAXMI CORES LAXMI CORES
MISHAL VINCOM MISHAL VINCOM
Name of shareholder MANUFACTURING MANUFACTURING
PVT.LTD. PVT.LTD.
PRIVATE LIMITED PRIVATE LIMITED
CIN of shareholder U27310WB1982PTC035606 U27310WB1982PTC035606 U51109WB1994PTC065097 U51109WB1994PTC065097
PAN of shareholder AAACL4543Q AAACL4543Q AADCM8475D AADCM8475D
Country of incorporation or
residence of INDIA INDIA INDIA INDIA
shareholder
Percentage of shareholding in
11.00% 11.00% 7.00% 7.00%
company
80
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
company [Abstract]
KUMAR KUMAR
Name of shareholder VRINDA ISPAT PVT LTD VRINDA ISPAT PVT LTD
BROTHERS BROTHERS
CIN of shareholder U65993WB1988PTC044026 U65993WB1988PTC044026
PAN of shareholder AABCV8071G AABCV8071G AACFK6932H AACFK6932H
shareholder
Classes of share capital [Axis] Preference shares 1 [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
five per cent in
company [Abstract]
five per cent
Type of share PREF PREF PREF PREF
ELECTROCOKE FUELS ELECTROCOKE FUELS
Name of shareholder VRINDA ISPAT PVT LTD VRINDA ISPAT PVT LTD
LTD. LTD.
CIN of shareholder U65993WB1988PTC044026 U65993WB1988PTC044026 U23109WB1995PLC074434 U23109WB1995PLC074434
PAN of shareholder AABCV8071G AABCV8071G AAACE6355K AAACE6355K
shareholder
13.00% 13.00% 20.00% 20.00%
company
81
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
five per cent in
company [Abstract]
five per cent
MISHAL VINCOM MISHAL VINCOM BIC ESTATES PRIVATE BIC ESTATES PRIVATE
Name of shareholder PVT.LTD. PVT.LTD. LIMITED LIMITED
CIN of shareholder U51109WB1994PTC065097 U51109WB1994PTC065097 U70102WB2003PTC097188 U70102WB2003PTC097188
PAN of shareholder AADCM8475D AADCM8475D AACCB3586H AACCB3586H
shareholder
22.00% 22.00% 25.00% 25.00%
company
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
company [Abstract]
AVINASH
AVINASH
Name of shareholder CHANDRA
CHANDRA GUPTA
ANITA GUPTA ANITA GUPTA
GUPTA
PAN of shareholder ADWPG5103F ADWPG5103F ADRPG9436E ADRPG9436E
shareholder

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Textual information (37) TEXT BLOCK

Disclosure of notes on share capital explanatory [TextBlock] [See below] ATTACHED
Whether there are any shareholders holding more than five per cent
Yes Yes
shares in company
Number of shareholders of company 83 83
Number of allottees in case of preferential allotment 0 0
Whether reduction in capital done during year No No
Whether money raised from public offering during year No No
82
Disclosure of notes on share capital explanatory [Text Block]

During the financial year 2015-16, out of 36,46,550 unissued equity shares, 25,00,000 equity shares of Rs.10/- each were reclassified into
25,00,000, 9% Non-Convertiable Non-Cumulative Redeemable Preference Shares of Rs.10/- and the Authorised Share Capital was increased
from Rs.32,50,00,000/- to Rs.35,00,00,000/- by creation of additional 25,00,000, 9% Non-Convertiable Non-Cumulative Redeemable Preference
Shares of Rs.10/- each.
1,55,79,000 9% Non-Convertible Non-Cumulative Redeemable Preference shares out of the issued, subscribed and paid up share capital were
alloted during the year 2014-15 towards conversion of unsecured loan.
All the Equity shares carry equal rights and obligation and including for dividend and with respect to voting.
All the Preference Shares carry non voting rights.
The details of shareholders holding more than 5% shares.
83
[200200] Notes - Reserves and surplus
Statement of changes in reserves [Table] ..(1)

Capital reserves Securities premium
Components of reserves [Axis] Reserves [Member]
[Member] account [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2016
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2017
Statement of changes in reserves [Abstract]
Statement of changes in reserves [LineItems]
Changes in reserves [Abstract]
Additions to reserves [Abstract]
Profit (loss) for period -97,77,81,009 -27,05,56,661 0 0
Other additions to reserves 0 0 0 0
Total additions to reserves -97,77,81,009 -27,05,56,661 0 0
Deductions to reserves [Abstract]
Securities premium adjusted bonus shares 0 0 0
Securities premium adjusted writing off
0 0 0
preliminary expenses
discount expenses issue shares 0 0 0
debentures
Securities premium adjusted premium
payable redemption preference shares 0 0 0
debentures
Securities premium adjusted purchase
own shares other securities under 0 0 0
section 68
Other utilisation of securities premium if
0 0 0 0
permitted
Other deductions to reserves 0 0 0 0
Total deductions to reserves 0 0 0 0
Appropriations for dividend, dividend tax and
general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation [Abstract]
Interim equity dividend appropriation 0 0
Interim preferred dividend
0 0
appropriation
Interim special dividend appropriation 0 0
Total interim dividend appropriation 0 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 0
Final preferred dividend appropriation 0 0
Final special dividend appropriation 0 0
Total final dividend appropriation 0 0
Total dividend appropriation 0 0
Dividend tax appropriation [Abstract]
Equity dividend tax appropriation 0 0
Preferred dividend tax appropriation 0 0
Total dividend tax appropriation 0 0
Other appropriations 0 0 0 0
Transfer to general reserve 0 0 0 0
Total appropriations for dividend,
0 0 0 0
dividend tax and general reserve
Appropriation towards bonus shares 0 0 0 0
Total changes in reserves -97,77,81,009 -27,05,56,661 0 0
Reserves at end of period -139,83,16,390 -42,05,35,381 34,74,310 19,36,93,500
Venturer's share of post-acquisition reserves
0 0 0 0
of jointly controlled enterprise
84

Securities premium Subsidy incentive
Components of reserves [Axis] Other reserves [Member]
account [Member] reserve [Member]
01/04/2015 01/04/2016 01/04/2015 01/04/2015
to to to to
31/03/2016 31/03/2017 31/03/2016 31/03/2016
Profit (loss) for period 0 0 0 0
Total additions to reserves 0 0 0 0
Securities premium adjusted bonus shares 0
0
preliminary expenses
discount expenses issue shares 0
debentures
Securities premium adjusted premium
payable redemption preference shares 0
debentures
Securities premium adjusted purchase
own shares other securities under 0
section 68
0 0 0 0
permitted
0 0 0 0
Total changes in reserves 0 0 0 0
Reserves at end of period 19,36,93,500 18,80,24,100 19,14,98,410 34,74,310
0 0 0 0
85

Components of reserves [Axis] Amalgamation reserve [Member] Surplus [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Profit (loss) for period 0 0 -97,77,81,009 -27,05,56,661
Total additions to reserves 0 0 -97,77,81,009 -27,05,56,661
0 0 0 0
permitted
Dividend appropriation [Abstract]
Interim dividend appropriation [Abstract]
Interim equity dividend appropriation 0 0
Interim preferred dividend
0 0
appropriation
Interim special dividend appropriation 0 0
Total interim dividend appropriation 0 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 0
Final preferred dividend appropriation 0 0
Final special dividend appropriation 0 0
Total final dividend appropriation 0 0
Total dividend appropriation 0 0
Dividend tax appropriation [Abstract]
Equity dividend tax appropriation 0 0
Preferred dividend tax appropriation 0 0
Total dividend tax appropriation 0 0
0 0 0 0
Total changes in reserves 0 0 -97,77,81,009 -27,05,56,661
Reserves at end of period 18,80,24,100 18,80,24,100 -178,35,08,300 -80,57,27,291
0 0 0 0
86
[200300] Notes - Borrowings
Classification of borrowings [Table] ..(1)

Classification based on time period [Axis] Long-term [Member]
Classification of borrowings [Axis] Term loans from banks [Member] Rupee term loans from banks [Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Secured borrowings [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [LineItems]
Borrowings 67,81,68,750 64,13,53,631 67,81,68,750 64,13,53,631
Nature of security [Abstract]
Nature of security SEE NOTE SEE NOTE SEE NOTE SEE NOTE
Terms of repayment of term loans and other loans SEE NOTE SEE NOTE SEE NOTE SEE NOTE

Working capital loans from banks
Classification of borrowings [Axis] Intercorporate borrowings [Member]
[Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Unsecured borrowings [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Borrowings 67,13,75,603 66,53,06,949 51,66,49,528 52,87,67,388
Nature of security SEE NOTE SEE NOTE

Loans and advances from related parties Loans and advances from directors
Classification of borrowings [Axis]
[Member] [Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member] Unsecured borrowings [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Borrowings 16,80,81,836 11,26,50,000 16,80,81,836 11,26,50,000
87

Classification based on time period [Axis] Long-term [Member] Short-term [Member]
Other loans and
Other loans and
Classification of borrowings [Axis] advances, others Term loans from banks [Member]
advances [Member]
[Member]
Secured Secured
Subclassification of borrowings [Axis] borrowings borrowings Secured borrowings [Member]
[Member] [Member]
01/04/2016 01/04/2016 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2017 31/03/2017 31/03/2016
Borrowings 59,070 59,070 30,61,04,710 1,25,00,000

Classification based on time period [Axis] Short-term [Member]
Loans repayable on demand from banks
Classification of borrowings [Axis] Rupee term loans from banks [Member]
[Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Secured borrowings [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Borrowings 30,61,04,710 1,25,00,000 215,93,10,218 191,47,88,623

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Textual information (38) Textual information (39)
Disclosure of notes on borrowings explanatory [TextBlock] [See below] [See below]
88
Disclosure of notes on borrowings explanatory [Text Block]

Debt Restructuring :
During the year ended 31st March, 2014, the Company was referred to the Corporate Debt Restructuring (CDR) Cell, a non statutory voluntary
mechanism set up under the aegis of Reserve Bank of India. Pursuant to that a Corporate Debt Restructuring (CDR) Package as recommended by
Bank of Baroda, the lead banker had been approved by the CDR empowered Group (CDR EG) at its meeting held on 07th March,2014 and
communicated vide its Letter of Approval dated March 18, 2014. The Master Restructuring Agreement was executed between the Company and
the concerned lenders on March 29, 2014.
A) Security:
Secured by 1st Charge over the Fixed assets of the Company on pari-passu basis with other Term Lenders as primary security and 2nd charge on
pari-passu basis on current assets and pari-passu 1st charge on various Lands owned by M/s Vrinda Ispat Pvt. Ltd. as collateral security along
with it's corporate guarantee by M/s Laxmi Cores Manufaturing Pvt. Ltd. and Vrinda Ispat Pvt. Ltd. and personal guarantee of Managing Director
and Jt. Managing Director of the Company and pledge of promoters' and promoters' group holding 54,14,540 Shares.
B) Repayment terms
The Restructured Term Loan, Additional Term Loan, FITL on TL and WCTL, FITL on WC and New Term Loan from all lenders are repayable
in quarterly instalments in a stepped up manner as follows:
Restructured Additional Term FITL on TL and FITL on New Term

Year
Term Loan Loan WCTL WC Loan
% % Interest % Interest % Interest
Interest Rate % Repayment Interest Rate
Repayment Repayment Rate Repayment Rate Repayment Rate
2013-14 0.00% 11.00% 0.00% 11.00% 0.00% 11.00% 0.00% 11.00% 0.00% 11.50%
2014-15 0.00% 11.00% 0.00% 11.00% 1.50% 11.00% 4.00% 11.00% 0.00% 11.50%
2015-16 2.50% 11.00% 2.50% 11.00% 5.00% 11.00% 6.00% 11.00% 10.00% 11.50%
2016-17 4.00% 12.50% 4.00% 12.50% 7.50% 12.50% 8.00% 12.50% 12.00% 11.50%
2017-18 7.50% 12.50% 7.50% 12.50% 10.00% 12.50% 10.00% 12.50% 12.00% 11.50%
2018-19 10.00% 12.50% 10.00% 12.50% 12.00% 12.50% 14.00% 12.50% 15.00% 11.50%
2019-20 12.00% 13.50% 12.00% 13.50% 15.00% 13.50% 18.00% 1.00% 15.00% 11.50%
2020-21 16.00% 13.50% 16.00% 13.50% 20.00% 13.50% 18.00% 13.50% 18.00% 11.50%
2021-22 17.00% 13.50% 17.00% 13.50% 23.00% 13.50% 22.00% 13.50% 18.00% 11.50%
2022-23 24.00% 13.50% 24.00% 13.50% 6.00% 13.50% 0.00% 13.50%
2023-24 7.00% 13.50% 7.00% 13.50%
Total 100.00% 100.00% 100.00% 100.00% 100.00%
Restructured Term Loan is repayable in quarterly instalments commencing from 31.07.2015 till 30.04.2023, Additional Term Loan is repayable in
quarterly instalments commencing from 31.07.2015 till 30.04.2023, The FITL on TL and WCTL is repayable in quarterly instalments
commencing from 31.01.2015 till 31.07.2022, FITL on WC is repayable in quarterly instalments commencing from 31.07.2014 till 31.12.2021
and New Term Loan is repayable in quarterly instalments commencing from 30.06.2015 till 31.03.2022
89
Disclosure of notes on borrowings explanatory [Text Block]

Debt Restructuring :
During the year ended 31st March, 2014, the Company was referred to the Corporate Debt Restructuring (CDR) Cell, a non statutory voluntary
mechanism set up under the aegis of Reserve Bank of India. Pursuant to that a Corporate Debt Restructuring (CDR) Package as recommended by
Bank of Baroda, the lead banker had been approved by the CDR empowered Group (CDR EG) at its meeting held on 07th March,2014 and
communicated vide its Letter of Approval dated March 18, 2014. The Master Restructuring Agreement was executed between the Company and
the concerned lenders on March 29, 2014.
A) Security:
Secured by 1st Charge over the Fixed assets of the Company on pari-passu basis with other Term Lenders as primary security and 2nd charge on
pari-passu basis on current assets and pari-passu 1st charge on various Lands owned by M/s Vrinda Ispat Pvt. Ltd. as collateral security along
with it's corporate guarantee by M/s Laxmi Cores Manufaturing Pvt. Ltd. and Vrinda Ispat Pvt. Ltd. and personal guarantee of Managing Director
and Jt. Managing Director of the Company and pledge of promoters' and promoters' group holding 54,14,540 Shares
B) Repayment terms
The Restructured Term Loan, Additional Term Loan, FITL on TL and WCTL, FITL on WC and New Term Loan from all lenders are repayable
in quarterly instalments in a stepped up manner as follows:
Restructured Additional Term FITL on TL and FITL on New Term

Year
Term Loan Loan WCTL WC Loan
% % Interest % Interest % Interest
Interest Rate % Repayment Interest Rate
Repayment Repayment Rate Repayment Rate Repayment Rate
2013-14 0.00% 11.00% 0.00% 11.00% 0.00% 11.00% 0.00% 11.00% 0.00% 11.50%
2014-15 0.00% 11.00% 0.00% 11.00% 1.50% 11.00% 4.00% 11.00% 0.00% 11.50%
2015-16 2.50% 11.00% 2.50% 11.00% 5.00% 11.00% 6.00% 11.00% 10.00% 11.50%
2016-17 4.00% 12.50% 4.00% 12.50% 7.50% 12.50% 8.00% 12.50% 12.00% 11.50%
2017-18 7.50% 12.50% 7.50% 12.50% 10.00% 12.50% 10.00% 12.50% 12.00% 11.50%
2018-19 10.00% 12.50% 10.00% 12.50% 12.00% 12.50% 14.00% 12.50% 15.00% 11.50%
2019-20 12.00% 13.50% 12.00% 13.50% 15.00% 13.50% 18.00% 1.00% 15.00% 11.50%
2020-21 16.00% 13.50% 16.00% 13.50% 20.00% 13.50% 18.00% 13.50% 18.00% 11.50%
2021-22 17.00% 13.50% 17.00% 13.50% 23.00% 13.50% 22.00% 13.50% 18.00% 11.50%
2022-23 24.00% 13.50% 24.00% 13.50% 6.00% 13.50% 0.00% 13.50%
2023-24 7.00% 13.50% 7.00% 13.50%
Total 100.00% 100.00% 100.00% 100.00% 100.00%
Restructured Term Loan is repayable in quarterly instalments commencing from 31.07.2015 till 30.04.2023, Additional Term Loan is repayable in
quarterly instalments commencing from 31.07.2015 till 30.04.2023, The FITL on TL and WCTL is repayable in quarterly instalments
commencing from 31.01.2015 till 31.07.2022, FITL on WC is repayable in quarterly instalments commencing from 31.07.2014 till 31.12.2021
and New Term Loan is repayable in quarterly instalments commencing from 30.06.2015 till 31.03.2022
90
[201000] Notes - Tangible assets
Disclosure of additional information tangible assets [Table] ..(1)

Company total tangible assets
Classes of tangible assets [Axis] Land [Member]
[Member]
Owned and leased assets Owned and leased assets
Sub classes of tangible assets [Axis] Owned assets [Member]
[Member] [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
Disclosure of additional information
tangible assets [Abstract]
tangible assets [LineItems]
ST LINE
Depreciation method tangible assets ST LINE
METHOD
NA NA NA NA
AS PER AS PER
SCHEDULE II SCHEDULE II
Useful lives or depreciation rates
OF THE OF THE N A NA NA NA
tangible assets COMPANIES COMPANIES
ACT 2013 ACT 2013

Classes of tangible assets [Axis] Buildings [Member] Factory building [Member]
[Member] [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
ST LINE ST LINE ST LINE
METHOD
ST LINE
METHOD
ST LINE
METHOD
AS PER AS PER AS PER AS PER AS PER AS PER
SCHEDULE II SCHEDULE II SCHEDULE II SCHEDULE II SCHEDULE II SCHEDULE II
OF THE OF THE OF THE OF THE OF THE OF THE
tangible assets COMPANIES COMPANIES COMPANIES COMPANIES COMPANIES COMPANIES
ACT 2013 ACT 2013 ACT 2013 ACT 2013 ACT 2013 ACT 2013

Classes of tangible assets [Axis] Plant and equipment [Member] Factory equipments [Member]
[Member] [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
METHOD
ST LINE
METHOD
ST LINE
METHOD
91

Classes of tangible assets [Axis] Furniture and fixtures [Member] Vehicles [Member]
[Member] [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
METHOD
ST LINE
METHOD
ST LINE
METHOD

Classes of tangible assets [Axis] Motor vehicles [Member] Office equipment [Member]
[Member] [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
METHOD
ST LINE
METHOD
ST LINE
METHOD

Other tangible assets, others
Classes of tangible assets [Axis] Office equipment [Member] Other tangible assets [Member]
[Member]
[Member] [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
METHOD
ST LINE
METHOD
ST LINE
METHOD
92

Classes of tangible assets [Axis] Other tangible assets, others [Member]
01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of additional information tangible assets [Abstract]
Disclosure of additional information tangible assets [LineItems]
Depreciation method tangible assets ST LINE ST LINE METHOD
AS P E R AS PER SCHEDULE
SCHEDULE II OF I I OF THE
Useful lives or depreciation rates tangible assets THE COMPANIES COMPANIES ACT
ACT 2013 2013
Disclosure of tangible assets [Table] ..(1)

Classes of tangible assets [Axis] Company total tangible assets [Member]
Sub classes of tangible assets [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross Gross carrying amount Accumulated depreciation and
Carrying amount [Member]
carrying amount [Axis] [Member] impairment [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
Disclosure of tangible assets [Abstract]
Disclosure of tangible assets
[LineItems]
Reconciliation of changes in
Changes in tangible assets
[Abstract]
Additions other than through
business combinations tangible 6,55,30,546 18,35,47,090 6,55,30,546 18,35,47,090
assets
Acquisitions through
business combinations 0 0 0 0
tangible assets
Depreciation tangible assets -13,92,57,474 -11,83,69,435 13,92,57,474 11,83,69,435
Impairment loss
recognised in profit or 0 0 0 0
loss tangible assets
Reversal of impairment loss
recognised in profit or loss 0 0 0 0
tangible assets
Revaluation increase
0 0 0 0
(decrease) tangible assets
Disposals tangible assets
[Abstract]
0 0 0 0 0 0
through demergers
Disposals tangible assets,
7,64,324 14,16,259 11,14,131 34,93,014 3,49,807 20,76,755
others
Total disposals tangible
7,64,324 14,16,259 11,14,131 34,93,014 3,49,807 20,76,755
assets
Other adjustments tangible
assets [Abstract]
Increase (decrease) through
net exchange differences 0 0 0 0
tangible assets
0 0 0 0 0 0
assets, others
Total other adjustments
0 0 0 0 0 0
tangible assets
Total changes in tangible
-7,44,91,252 6,37,61,396 6,44,16,415 18,00,54,076 13,89,07,667 11,62,92,680
assets
Tangible assets at end of period 74,00,75,314 81,45,66,566 171,95,15,478 165,50,99,083 97,94,40,164 84,05,32,517
93

01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
[LineItems]
[Abstract]
business combinations tangible 0 1,28,432 0 1,28,432
assets
tangible assets
Depreciation tangible assets 0 0 0 0
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
0 1,28,432 0 1,28,432 0 0
assets
Tangible assets at end of period 1,72,61,444 1,72,61,444 1,72,61,444 1,72,61,444 0 0
94

01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
[LineItems]
[Abstract]
business combinations tangible 0 1,28,432 0 1,28,432
assets
tangible assets
Depreciation tangible assets 0 0 0 0
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
0 1,28,432 0 1,28,432 0 0
assets
Tangible assets at end of period 1,72,61,444 1,72,61,444 1,72,61,444 1,72,61,444 0 0
95

Classes of tangible assets [Axis] Buildings [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
[LineItems]
[Abstract]
business combinations tangible 5,08,942 3,28,34,964 5,08,942 3,28,34,964
assets
tangible assets
Depreciation tangible assets -87,87,830 -71,77,284 87,87,830 71,77,284
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
-82,78,888 2,56,57,680 5,08,942 3,28,34,964 87,87,830 71,77,284
assets
96

Classes of tangible assets [Axis] Factory building [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
-82,78,888 2,56,57,680 5,08,942 3,28,34,964 87,87,830 71,77,284
assets
97

Classes of tangible assets [Axis] Factory building [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
-82,78,888 2,56,57,680 5,08,942 3,28,34,964 87,87,830 71,77,284
assets
98

Classes of tangible assets [Axis] Plant and equipment [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
55,571 0 55,571 0 0 0
others
55,571 0 55,571 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
-6,22,58,647 3,86,72,473 5,75,01,865 13,64,67,664 11,97,60,512 9,77,95,191
assets
99

Classes of tangible assets [Axis] Factory equipments [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
55,571 0 55,571 0 0 0
others
55,571 0 55,571 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
-6,22,58,647 3,86,72,473 5,75,01,865 13,64,67,664 11,97,60,512 9,77,95,191
assets
100

Classes of tangible assets [Axis] Factory equipments [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
55,571 0 55,571 0 0 0
others
55,571 0 55,571 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
-6,22,58,647 3,86,72,473 5,75,01,865 13,64,67,664 11,97,60,512 9,77,95,191
assets
101

Classes of tangible assets [Axis] Furniture and fixtures [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
[LineItems]
[Abstract]
business combinations tangible 3,38,492 38,848 3,38,492 38,848
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
-1,62,234 -13,80,667 3,38,492 38,848 5,00,726 14,19,515
assets
Tangible assets at end of period 27,53,948 29,16,182 1,01,37,890 97,99,398 73,83,942 68,83,216
102

Classes of tangible assets [Axis] Furniture and fixtures [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
[LineItems]
[Abstract]
business combinations tangible 3,38,492 38,848 3,38,492 38,848
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
-1,62,234 -13,80,667 3,38,492 38,848 5,00,726 14,19,515
assets
Tangible assets at end of period 27,53,948 29,16,182 1,01,37,890 97,99,398 73,83,942 68,83,216
103

Classes of tangible assets [Axis] Vehicles [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
[LineItems]
[Abstract]
business combinations tangible 21,19,441 47,49,906 21,19,441 47,49,906
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
7,08,753 14,16,259 10,58,560 34,93,014 3,49,807 20,76,755
others
7,08,753 14,16,259 10,58,560 34,93,014 3,49,807 20,76,755
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
-23,76,162 -3,51,133 10,60,881 12,56,892 34,37,043 16,08,025
assets
104

Classes of tangible assets [Axis] Motor vehicles [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
7,08,753 14,16,259 10,58,560 34,93,014 3,49,807 20,76,755
others
7,08,753 14,16,259 10,58,560 34,93,014 3,49,807 20,76,755
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
-23,76,162 -3,51,133 10,60,881 12,56,892 34,37,043 16,08,025
assets
105

Classes of tangible assets [Axis] Motor vehicles [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
7,08,753 14,16,259 10,58,560 34,93,014 3,49,807 20,76,755
others
7,08,753 14,16,259 10,58,560 34,93,014 3,49,807 20,76,755
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
-23,76,162 -3,51,133 10,60,881 12,56,892 34,37,043 16,08,025
assets
106

Classes of tangible assets [Axis] Office equipment [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
-206 -8,81,355 11,16,684 8,02,962 11,16,890 16,84,317
assets
Tangible assets at end of period 34,97,141 34,97,347 1,82,78,121 1,71,61,437 1,47,80,980 1,36,64,090
107

Classes of tangible assets [Axis] Office equipment [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
-206 -8,81,355 11,16,684 8,02,962 11,16,890 16,84,317
assets
Tangible assets at end of period 34,97,141 34,97,347 1,82,78,121 1,71,61,437 1,47,80,980 1,36,64,090
108

Classes of tangible assets [Axis] Other tangible assets [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
-14,15,115 19,15,966 38,89,551 85,24,314 53,04,666 66,08,348
assets
109

01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
[LineItems]
ROLLS AND R O L L S , ROLLS AND R O L L S , ROLLS AND ROLLS,
Nature of other tangible assets MOULD MOULD MOULD MOULD MOULD MOULD
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
-14,15,115 19,15,966 38,89,551 85,24,314 53,04,666 66,08,348
assets
110

01/04/2016 01/04/2015 01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016 31/03/2017 31/03/2016
[LineItems]
ROLLS AND R O L L S , ROLLS AND R O L L S , ROLLS AND ROLLS,
Nature of other tangible assets MOULD MOULD MOULD MOULD MOULD MOULD
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0 0 0
through demergers
0 0 0 0 0 0
others
0 0 0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0 0 0
assets, others
0 0 0 0 0 0
tangible assets
-14,15,115 19,15,966 38,89,551 85,24,314 53,04,666 66,08,348
assets

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016

Disclosure of notes on tangible assets explanatory [TextBlock] [See below] ATTACHED
111
Disclosure of notes on tangible assets explanatory [Text Block]

Fixed assets are stated at cost. The cost comprises purchase price including taxes and duties except where CENVAT and VAT has been taken,
inward freight, borrowing costs, if capitalization criteria are met and directly attributable cost of bringing the assets to its working condition for
the intended use.
Day to day repair and maintenance expenditure and cost of replacing parts, are charged to the statement of Profit and Loss for the period during
which such expenses are incurred.
Gains or losses arising from derecognition of fixed assets are measured as the difference between the net disposal proceeds and the carrying
amount of the assets and are recognized in the statement of Profit and Loss when the assets is derecognized
Depreciation on fixed assets is calculated on straight line basis in terms of provisions of Schedule II to the Companies Act, 2013
[201100] Notes - Intangible assets
Disclosure of intangible assets [Table] ..(1)

Company total intangible assets
Classes of intangible assets [Axis]
[Member]
Internally generated and other than
Sub classes of intangible assets [Axis] internally generated intangible assets
[Member]
Carrying amount accumulated amortization and impairment and gross carrying amount [Axis] Carrying amount [Member]
31/03/2017 31/03/2016
Disclosure of intangible assets [Abstract]
Disclosure of intangible assets [LineItems]
Reconciliation of changes in intangible assets [Abstract]
Intangible assets at end of period 0 0
112
[200400] Notes - Non-current investments
Details of non-current investments [Table] ..(1)

Classification of non-current investments [Axis] A B
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [LineItems]
Investment in other Investment in other Investment in other Investment in other
Type of non-current investments Indian companies Indian companies Indian companies Indian companies
equity instruments equity instruments equity instruments equity instruments
Class of non-current investments Other investments Other investments Other investments Other investments
Nature of non-current investments QUOTED QUOTED QUOTED QUOTED
Non-current investments 4,780 4,780 13,35,000 13,35,000
ELECTROSTEEL
Name of body corporate in whom investment has ELECTROSTEEL ELECTROSTEEL ELECTROSTEEL
CASTINGS
been made CASTING LTD STEELS LIMITED STEELS LTD
LIMITED
Number of shares of non-current investment
[shares] 1,600 [shares] 1,600 [shares] 1,33,500 [shares] 1,33,500
made in body corporate

Classification of non-current investments [Axis] C D
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Investment in
Investment in other Investment in other other Indian
Investments in mutual
Type of non-current investments Indian companies Indian companies companies
funds
equity instruments equity instruments equity
instruments
Other
Class of non-current investments Other investments Other investments
investments
Other investments
Nature of non-current investments QUOTED QUOTED UNQUOTED QUOTED

Non-current investments 725 725 4,48,00,000 5,00,000
BARODA PIONEER
KESHAV
SADBHAV BANKING AND
Name of body corporate in whom investment has SADBHAV SPONGE &
ENGINEERING FINANCIAL SERVICES
been made ENGINEERING LTD ENERGY PVT
LTD FUND PLAN-A
LTD
GROWTH
Number of shares of non-current investment [shares]
[shares] 10 [shares] 10
made in body corporate 44,80,000
113

Classification of non-current investments [Axis] E F
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Investment in other
Investments in mutual Investments in Investments in
Type of non-current investments funds mutual funds mutual funds
Indian companies equity
instruments
Other Other
Class of non-current investments Other investments
investments investments
Other investments
Nature of non-current investments QUOTED QUOTED QUOTED

Non-current investments 5,00,000 10,00,000 10,00,000 4,48,00,000
BARODA PIONEER B A R O D A
BANKING AND PIONEER PSU B A R O D A
Name of body corporate in whom investment has KESHAV SPONGE &
FINANCIAL SERVICES EQUITY FUND PIONEER-MID
been made ENERGY PVT LTD
FUND-PLAN A GROWTH CAP FUND
GROWTH PLAN
Number of shares of non-current investment
[shares] 44,80,000
made in body corporate

31/03/2017 31/03/2016
Disclosure of notes on non-current investments explanatory [TextBlock]
Aggregate amount of quoted non-current investments 28,40,505 28,40,505
Market value of quoted non-current investments 24,27,207 18,41,386
Aggregate amount of unquoted non-current investments 4,48,00,000 4,48,00,000
Aggregate provision for diminution in value of non-current investments 0 0
114
[200600] Notes - Subclassification and notes on liabilities and assets
Loans and advances [Table] ..(1)

Loans and
Capital advances
Classification of loans and advances [Axis] Security deposits [Member] advances to related
[Member]
parties [Member]
Unsecured Unsecured
Classification of assets based on security [Axis] considered good Unsecured considered good [Member] considered good
[Member] [Member]
31/03/2016 31/03/2017 31/03/2016 31/03/2017
Subclassification and notes on liabilities and assets
[Abstract]
Loans and advances notes [Abstract]
Loans and advances [Abstract]
Disclosure of loans and advances [LineItems]
Loans and advances, gross 10,67,99,646 2,18,56,989 2,18,36,680 57,07,652
Allowance for bad and doubtful loans and
0 0 0 0
advances
Loans and advances 10,67,99,646 2,18,56,989 2,18,36,680 57,07,652
Details of loans and advances due by
directors, other officers or others
[Abstract]
Loans and advances due by directors 0 0 0 0
Loans and advances due by other officers 0 0 0 0
Loans and advances due by others 0 0 0 0
Total loans and advances due by
0 0 0 0
Details of loans and advances due by firms
or companies in which any director is
partner or director [Abstract]
Loans and advances due by firms in
0 0 0 0
which any director is partner
Loans and advances due by private
companies in which any director is 0 0 0 0
director
member
Total loans and advances due
by firms or companies in which
0 0 0 0
any director is partner or
director
115

Loans and
Advance tax
Classification of loans and advances [Axis] advances to related Loans advances given directors [Member]
[Member]
parties [Member]
Unsecured Unsecured
[Member] [Member]
31/03/2016 31/03/2017 31/03/2016 31/03/2017
[Abstract]
Loans and advances, gross 6,41,400 57,07,652 6,41,400 8,12,790
0 0 0 0
advances
Loans and advances 6,41,400 57,07,652 6,41,400 8,12,790
[Abstract]
0 0 0 0
0 0 0 0
director
member
0 0 0 0
director
116

Advance tax Other advance
Classification of loans and advances [Axis] Tax deducted at source [Member]
[Member] taxes [Member]
Unsecured Unsecured
[Member] [Member]
31/03/2016 31/03/2017 31/03/2016 31/03/2017
[Abstract]
Loans and advances, gross 43,22,119 7,68,646 43,22,119 (A) 44,144
0 0 0 0
advances
Loans and advances 43,22,119 7,68,646 43,22,119 44,144
[Abstract]
0 0 0 0
0 0 0 0
director
member
0 0 0 0
director
Footnotes
(A) WEALTH TAX PAID
117

Other loans and advances, others
Classification of loans and advances [Axis]
[Member]
Classification of assets based on security [Axis] Unsecured considered good [Member]
31/03/2017 31/03/2016
Subclassification and notes on liabilities and assets [Abstract]
Loans and advances, gross 9,59,83,822 3,90,687
Allowance for bad and doubtful loans and advances 0 0
Loans and advances 9,59,83,822 3,90,687
Details of loans and advances due by directors, other officers or others
[Abstract]
Loans and advances due by directors 0 0
Loans and advances due by other officers 0 0
Loans and advances due by others 0 0
Total loans and advances due by directors, other officers or others 0 0
Details of loans and advances due by firms or companies in which any
director is partner or director [Abstract]
Loans and advances due by firms in which any director is partner 0 0
Loans and advances due by private companies in which any director is
0 0
director
Loans and advances due by private companies in which any director is member 0 0
Total loans and advances due by firms or companies in which any director
0 0
is partner or director
118
Subclassification of trade receivables [Table] ..(1)

Classification of assets based on security
Classification of assets based on security [Axis] Unsecured considered good [Member]
[Member]
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Trade receivables notes [Abstract]
Trade receivables [Abstract]
Subclassification of trade receivables
[Abstract]
Subclassification of trade receivables
[LineItems]
Breakup of trade receivables [Abstract]
Trade receivables, gross 277,91,26,749 186,33,88,661 277,91,26,749 186,33,88,661
Allowance for bad and doubtful debts 0 0 0 0
Total trade receivables 277,91,26,749 186,33,88,661 277,91,26,749 186,33,88,661
Details of trade receivables due by
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Trade receivables due by others 0 0
Total trade receivables due by
directors, other officers or 0 0
others
Details of trade receivables due by
firms or companies in which any director
is partner or director [Abstract]
Trade receivables due by firms in
0 0
Trade receivables due by private
companies in which any director 0 0
is director
Trade receivables due by private
companies in which any director 0 0
is member
Total trade receivables due by firms
or companies in which any director is 0 0
partner or director
Classification of inventories [Table] ..(1)

Classification of inventories [Axis] Company total inventories [Member] Raw materials [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Inventories notes [Abstract]
Inventories [Abstract]
Classification of inventories [Abstract]
Details of inventories [LineItems]
Inventories 144,64,87,352 192,35,30,455 70,24,38,401 129,41,11,954
Goods in transit 0 0 0 0
Mode of valuation COST COST AV OF COST PRICE AVERAGE COST
119
Classification of inventories [Table] ..(2)

Classification of inventories [Axis] Finished goods [Member] Stores and spares [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Inventories notes [Abstract]
Inventories [Abstract]
Classification of inventories [Abstract]
Details of inventories [LineItems]
Inventories 58,81,08,03341,35,34,572 15,59,40,918 21,58,83,929
Goods in transit 0 0 0 0
COST OR
LOWER OF COST
Mode of valuation OR MARKET PRICE
MARKET PRICE COST COST
W EL
120

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of subclassification and notes on liabilities and assets Textual information (41) TEXT BLOCK
explanatory [TextBlock] [See below] ATTACHED
Trade payables, long-term 67,40,60,047 13,18,82,566

Others long-term, others 5,30,28,938 5,25,45,360
Total others, long-term 5,30,28,938 5,25,45,360
Total other long-term liabilities 72,70,88,985 18,44,27,926
Interest accrued but not due on borrowings 0 0
Interest accrued and due on borrowings 0 0
Interest accrued but not due on public deposits 0 0
Interest accrued and due on public deposits 0 0
Debentures claimed but not paid 0 0
Income received in advance 0 0
Unpaid dividends 0 0
Application money received for allotment of securities and
0 0
due for refund, principal
Unpaid matured deposits and interest accrued thereon 0 0
Unpaid matured debentures and interest accrued thereon 0 0
VAT payable 0 0
Taxes payable sales tax 0 0
Taxes payable other tax 0 0
Security deposits refundable, current 0 0
Total deposits refundable current 0 0
Public deposit payable, current 0 0
Total other payables, current 0 0
Current liabilities portion of share application money pending
0 0
allotment
Other current liabilities, others 58,88,72,790 17,70,48,879
Total other current liabilities 58,88,72,790 17,70,48,879
Aggregate amount of trade receivables outstanding for period
216,42,73,882 52,43,05,500
exceeding six months
Fixed deposits with banks 37,73,717 5,55,16,858
Other balances with banks 95,34,637 61,23,884
Total balance with banks 1,33,08,354 6,16,40,742
Cheques, drafts on hand 89,94,021 0
Cash on hand 11,44,702 38,58,102
Total cash and cash equivalents 2,34,47,077 6,54,98,844
Total cash and bank balances 2,34,47,077 6,54,98,844
Balances held with banks to extent held as margin money 3,67,369 5,54,46,000
Balances held with banks to extent held as security against
0 0
borrowings
Balances held with banks to extent held as guarantees 0 0
Balances held with banks to extent held against other
0 0
commitments
Total balances held with banks to extent held as
margin money or security against borrowings, 3,67,369 5,54,46,000
guarantees or other commitments
Bank deposits with more than twelve months maturity 37,73,717 5,55,16,858
Dividend receivable, others 0 0
Total dividend receivable 0 0
Other current assets, others (A) 39,94,51,599

0
Total other current assets 39,94,51,599 0
Footnotes
(A) DEFERRED REVENUE EXPENDITURE
121
Disclosure of subclassification and notes on liabilities and assets explanatory [Text Block]
There are no dues to any creditors constituting "Suppliers" within the meaning of section 2 (n) of the Micro, Small and Medium Enterprises
Development Act, 2006.
No provision for present liabilities in respect of future payment of Gratuity has been made, in absence of acturial valuation the amount of gratuity
liability as on 31st March, 2017 as estimated by the management is Rs. 8,185,231/- (Previous Year Rs. 7,485,553/-.)
Number of employees getting remuneration aggregating to Rs. 60,00,000/- or more per annum or Rs. 5,00,000/- or more per month when
employed for a part of the year - 2 (Previous Year - 2)
Balances of Sundry Debtors / Creditors are subject to confirmation and reconciliation, if any.
Sundry Debtors has been taken as certified by the management.
In Terms of Accounting Standard, AS-22, issued by the Institute of Chartered Accountants of India, Net deferred Tax Assets of Rs. 510,061,392/
as on 31.03.2017 has not been recognised by corresponding credit to the Statement of Profit and Loss.
122
[200700] Notes - Additional disclosures on balance sheet

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of additional balance sheet notes explanatory [TextBlock]
Claims against company not acknowledged as debt 23,20,64,990 6,61,82,618
Guarantees 1,80,000 1,80,000
Other money for which company is contingently liable 33,15,40,216

(A) 30,62,35,667
Total contingent liabilities 56,37,85,206 37,25,98,285
Uncalled liability on shares and other investments partly paid 0 0
Total commitments 0 0
Total contingent liabilities and commitments 56,37,85,206 37,25,98,285
Amount of dividends proposed to be distributed to equity shareholders 0 0
Amount of per share dividend proposed to be distributed to equity
shareholders
Amount of dividends proposed to be distributed to preference
0 0
shareholders
Amount of per share dividend proposed to be distributed to
preference shareholders
Arrears of fixed cumulative dividends on preference shares 0 0
Percentage of proposed dividend 0.00% 0.00%
Deposits accepted or renewed during period 0 0
Deposits matured and claimed but not paid during period 0 0
Deposits matured and claimed but not paid 0 0
Deposits matured but not claimed 0 0
Interest on deposits accrued and due but not paid 0 0
Additions to equity share warrants during period 0 0
Deductions in equity share warrants during period 0 0
Total changes in equity share warrants during period 0 0
Equity share warrants at end of period 0 0
Equity share warrants for existing members 0 0
Equity share warrants for others 0 0
Total equity share warrants 0 0
Share application money received during year 0 0
Share application money paid during year 0 0
Amount of share application money received back during year 0 0
Amount of share application money repaid returned back during year 0 0
Number of person share application money paid during year 0 0
Number of person share application money received during year 0 0
Number of person share application money paid as at end of year 0 0
Number of person share application money received as at end of year 0 0
Share application money received and due for refund 0 0
Disclosure of whether all assets and liabilities are registered with
Yes Yes
company
Whether maintenance of cost records by company has been
mandated under Companies (Cost Records and Audit) Rules, Yes Yes
2014
If yes, Central Excise Tariff Act, heading in which product/
72071920, 72131090 72071920, 72131090
service is covered under cost records
Whether audit of cost records of company has been mandated
Yes Yes
under Rules specified in SN 1
If yes, Central Excise Tariff Act, heading in which product/
72071920, 72131090 72071920, 72131090
service is covered under cost audit
Unclaimed share application refund money 0 0
Unclaimed matured debentures 0 0
Unclaimed matured deposits 0 0
Interest unclaimed amount 0 0
Number of warrants converted into equity shares during period 0 0
Number of warrants converted into preference shares during period 0 0
Number of warrants converted into debentures during period 0 0
123
Number of warrants issued during period (in foreign currency) 0 0

Number of warrants issued during period (INR) 0 0
Footnotes
(A) Rights of recopense of Lenders as per CDR guidelines
[200800] Notes - Disclosure of accounting policies, changes in accounting policies and estimates
01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of accounting policies, change in accounting policies and Textual information (42) TEXT BLOCK
changes in estimates explanatory [TextBlock] [See below] ATTACHED
124
Disclosure of accounting policies, change in accounting policies and changes in estimates explanatory [Text Block]
SIGNIFICANT ACCOUNTING POLICIES FOR THE YEAR ENDED 31ST MARCH 2017
a. Significant Accounting Policies
The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian
GAAP) to comply with the Accounting Standards specified under Section 133 of the Companies Act, 2013, and the relevant provisions of the
Companies Act, 2013 ("the 2013 Act") as applicable. The financial statements have been prepared as going concern on accrual basis under the
historical cost convention. The accounting policies adopted in the preparation of the financial statements are consistent with those followed in the
previous year.
b. Use of Estimates
The preparation of financial statements in conformity with Generally Accepted Accounting Principles (Indian GAAP), requires the Management
to make judgments, estimates and assumptions that affect the reported amount of revenues, expenses, assets and liabilities and the disclosure of
contingent liabilities, at the end of the reporting period. Although these estimates are based on the management's best knowledge of current events
and actions, uncertainty about these assumptions and estimates could result in the outcomes requiring a material adjustment to the carrying
amounts of assets or liabilities in future periods.
c. Tangible Fixed Assets
Fixed assets are stated at cost. The cost comprises purchase price including taxes and duties except where CENVAT and VAT has been taken,
inward freight, borrowing costs, if capitalization criteria are met and directly attributable cost of bringing the assets to its working condition for
the intended use.
Day to day repair and maintenance expenditure and cost of replacing parts, are charged to the statement of Profit and Loss for the period during
which such expenses are incurred.
Gains or losses arising from derecognition of fixed assets are measured as the difference between the net disposal proceeds and the carrying
amount of the assets and are recognized in the statement of Profit and Loss when the assets is derecognized.
d. Depreciation on Tangible Fixed Assets
Depreciation on fixed assets is calculated on straight line basis in terms of provisions of Schedule II to the Companies Act, 2013
e. Borrowing Costs
Borrowing cost directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period to get
ready for its intended use or sale are capitalized as part of the cost of the respective asset. All other borrowing costs are expensed in the period
they occur.
Impairment
The Company assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, or when annual
impairment testing for an asset is required, the company estimates the asset's recoverable amount. An asset's recoverable amount is the higher of
an asset's or cash-generating unit's (CGU) net selling price and its value in use. The recoverable amount is determined for an individual asset,
unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. Where the carrying
amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In
125
assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current
market assessments of the time value of money and the risks specific to the asset. In determining net selling price, recent market transactions are
taken into account, if available. If no such transactions can be identified, an appropriate valuation model is used.
The Company bases its impairment calculation on detailed budgets and forecast calculations which are prepared separately for each of the
company's cash-generating units to which the individual assets are allocated. These budgets and forecast calculations are generally covering a
period of five years. For longer periods, a long term growth rate is calculated and applied to project future cash flows after the fifth year.
After impairment, depreciation is provided on the revised carrying amount of the asset over its remaining useful life.
An assessment is made at each reporting date as to whether there is any indication that previously recognized impairment losses may no longer
exist or may have decreased. If such indication exists, the company estimates the asset's or cash-generating unit's recoverable amount. A
previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the asset's recoverable
amount since the last impairment loss was recognized. The reversal is limited so that the carrying amount of the asset does not exceed its
recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been
recognized for the asset in prior years. Such reversal is recognized in the statement of profit and loss unless the asset is carried at a revalued
amount, in which case the reversal is treated as a revaluation increase.
f. Investments
Investments, which are readily realizable and intended to be held for not more than one year from the date on which such investments are made,
are classified as current investments. All other investments are classified as long-term investments.
On initial recognition, all investments are measured at cost. The cost comprises purchase price and directly attributable acquisition charges such
as brokerage, fees and duties.
Current investments are carried in the financial statements at lower of cost and fair value determined on an individual investment basis.
Long-term investments are carried at cost. However, provision for diminution in value is made to recognize a decline other than temporary in the
value of the investments.
On disposal of an investment, the difference between its carrying amount and net disposal proceeds is charged or credited to the statement of
profit and loss.
g. Inventories
a. Raw Material, Ferro Alloys and Other Products are valued at Cost (on the basis of yearly average cost).
b.Stores, Spare Parts, Refractories and Components are valued at cost F.I.F.O method.
c. Own Products at lower of cost or market value.
h. Revenue Recognition
All expenses and incomes to the extent considered payable and receivable respectively unless specifically stated to be otherwise are accounted for
on mercantile basis.
Sale of products
Revenue from sale of goods is recognized when all the significant risks and rewards of ownership of the goods have been passed to the buyer,
usually on delivery of the goods. The company collects excise duty, sales taxes and value added taxes (VAT) on behalf of the government and,
therefore, these are not economic benefits flowing to the company. Hence, they are excluded from revenue.
Interest
126
a)Interest income is recognized on a time proportion basis taking into account the amount outstanding and the applicable interest rate. Interest
income is included under the head "other income" in the statement of profit and loss.
b)Interest paid has been accounted for on the basis of interest debited by Bank. The amount not debited by Bank has not been accounted for as the
amount not accounted for cannot be ascertain.
Dividends
Dividend income is recognized when the Company's right to receive dividend is established by the reporting date.
i. Retirement and other employee benefits
Retirement benefit in the form of provident fund and superannuation fund is a defined contribution scheme. The contributions to the provident
fund and superannuation fund are charged to the statement of profit and loss for the year when the contributions are due. The company has no
obligation, other than the contribution payable to the funds.
j. Income Taxes
Tax expense comprises of current and deferred tax. Current income tax is measured at the amount expected to be paid to the tax authorities in
accordance with Indian Income Tax Act, 1961. Deferred income taxes reflect the impact of current year timing differences between taxable
income and accounting income for the year and reversal of timing differences of earlier years. Deferred tax is measured based on the tax rates and
the tax laws enacted or substantively enacted at the balance sheet date. Deferred tax assets are recognized only to the extent that there is
reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized. In situations
where the Company has unabsorbed depreciation or carry forward tax losses, entire deferred tax assets are recognized only if there is virtual
certainty supported by convincing evidence that such deferred tax assets can be realized against future taxable profits. At each balance sheet date,
the Company re-assesses unrecognized deferred tax assets. If recognizes unrecognized deferred tax assets to the extent that it has become
reasonably certain or virtually certain, as the case may be, that sufficient future taxable income will be available against which such deferred tax
assets can be realized.
The carrying amount of deferred tax assets are reviewed at each balance sheet date. The Company writes-down the carrying amount of a deferred
tax assets to the extent that it is no longer reasonably certain or virtually certain, as the case may be, that sufficient future taxable income will be
available against which deferred tax assets can be realized. Any such write-down is reversed to the extent that it becomes reasonably certain or
virtually certain, at the case may be, that sufficient future taxable income will be available.
MAT credit is recognized as an asset only when and to the extent there is convincing evidence that the Company will pay normal income tax
during the specified year. In the year in which the Minimum Alternative Tax (MAT) credit becomes eligible to be recognized as an asset in
accordance with the recommendations contained in the guidance note issued by the Institute of Chartered Accountants of India, the said asset is
created by way of a credit to the statement of profit and loss and shown as MAT Credit Entitlement. The Company reviews the same at each
balance sheet date and writes down the carrying amount of MAT Credit Entitlement to the extent there is no longer convincing evidence to the
effect that Company will pay normal income tax during the specified period.
k. Earnings Per Share
Basic earnings per share are calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted average
number of equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, the net profit or loss for the year attributable to equity shareholders and the weighted
average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares.
l. Provisions
A provision is recognized when the company has a present obligation as a result of past event, it is probable that an outflow of resources
embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.
Provisions are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the reporting
date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.
127
Where the company expects some or all of a provision to be reimbursed, for example under an insurance contract, the reimbursement is
recognized as a separate asset but only when the reimbursement is virtually certain. The expense relating to any provision is presented in the
statement of profit and loss net of any reimbursement.
m. Contingent Liabilities
A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence of non-occurrence
one or more uncertain future events beyond control of the Company or a present obligation that is not recognized because it is not probable that
an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability
that cannot be recognized because it cannot be measured reliably. The Company does not recognize the contingent liability but disclose its
existence in its financial statements.
n. Cash and Cash equivalents
Cash and cash equivalents in the Cash Flow Statement comprise cash at bank and in hand and short-term investments with an original maturity of
three months or less.
In terms of our report of even date For and on behalf of the Board
For C.L.SARAF and CO.
Firm Reg.No.305115E
Chartered Accountants A C Gupta Managing Director
(G.R.AGARWAL) N H Gupta Jt. Managing Director
Partner
M/No.016452
A K Chand Chief Financial Officer
21-A,Stephen House
4,BBD Bag East,
Kolkata ,the 29th day of May 2017 A Sharma Company Secretary
128
[201700] Notes - Government grants

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of notes on government grants explanatory [TextBlock]
Capital subsidies or grants received from government authorities 0 0
Revenue subsidies or grants received from government authorities 0 0
[201200] Notes - Employee benefits

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016

Disclosure of employee benefits explanatory [TextBlock] [See below] ATTACHED
Disclosure of employee benefits explanatory [Text Block]

Retirement benefit in the form of provident fund and superannuation fund is a defined contribution scheme. The contributions to the provident
fund and superannuation fund are charged to the statement of profit and loss for the year when the contributions are due. The company has no
obligation, other than the contribution payable to the funds.
129
[201600] Notes - Related party
Disclosure of relationship and transactions between related parties [Table] ..(1)

Categories of related parties [Axis] ANITAGUPTA AVINASHCHANDRAGUPTA ELECTROCOKEFUELSLTD
01/04/2016 01/04/2016 01/04/2015 01/04/2016
to to to to
31/03/2017 31/03/2017 31/03/2016 31/03/2017
Disclosure of relationship and transactions
between
related parties [Abstract]
Disclosure of relationship and transactions
between
related parties [LineItems]
AVINASH
Name of related party ANITAGUPTA AVINASHCHANDRAGUPTA
CHANDRA GUPTA
ELECTROCOKE FUELS LTD.

related INDIA INDIA INDIA INDIA
party
Permanent account number of related party ADRPG9436E ADWPG5103F ADWPG5103F AAACE6355K
CIN of related party U23109WB1995PLC074434
Enterprises which are owned, or
Relatives of Key have significant influence of or
Description of nature of related party Key Management
management Key Management Personnel are partners with Key
relationship Personnel
personnel management personnel and their
relatives
Description of nature of transactions with
related RENT REMUNERATION REMUNERATION SALES
party
Related party transactions [Abstract]
Purchases of goods related party transactions
72,00,000
Revenue from sale of goods related party

2,91,60,655
transactions
Advances given during year related party
5,05,086
transactions
Advances taken during year related party
4,80,81,836 11,26,50,000
transactions
Transaction relating to key management
personnel
[Abstract]
Remuneration for key managerial personnel 72,00,000
Amount written off during period in respect
0 0 0 0
of debts due from related parties
Amount written back during period in respect
0 0 0 0
of debts due to related parties
Description of other related party
transactions which are necessary for RENT-RS 360000
understanding of financial statements
130

Categories of related parties [Axis] ELECTROCOKEFUELSLTD KESHAVSPONGEENERGYPRIVATELIMITED LEKHARANIGUPTA
01/04/2015 01/04/2016 01/04/2015 01/04/2016
to to to to
31/03/2016 31/03/2017 31/03/2016 31/03/2017
Disclosure of relationship and
transactions between
KESHAV SPONGE & KESHAV SPONGE &
Name of related party ELECTROCOKE FUELS LTD. ENERGY PRIVATE ENERGY PRIVATE LEKHARANIGUPTA
LIMITED LIMITED
Country of incorporation or residence
of related INDIA INDIA INDIA INDIA
party
Permanent account number of related
AAACE6355K AAACG9027G AAACG9027G AEBPG7227G
party
CIN of related party U23109WB1995PLC074434 U26942WB1991PTC141633 U26942WB1991PTC141633
Enterprises which are owned, or Enterprises which are Enterprises which are
Description of nature of related party have significant influence of or owned, or have significant owned, or have significant Relatives of Key
are partners with Key influence of or are partners influence of or are partners
relationship management personnel
management personnel and their with Key management with Key management
relatives personnel and their relatives personnel and their relatives
Description of nature of transactions
with related SALE PURCHASE PURCGASE RENT
party
Purchases of goods related party
10,80,034 2,64,33,401
transactions
Revenue from sale of goods related
party 2,91,55,000
transactions
Amount written off during period in
respect 0 0 0 0
Amount written back during period in
respect 0 0 0 0
transactions which are necessary for RENT-RS 270000
131

Categories of related parties [Axis] NARAINHARIGUPTA PRAVEENCHOKHANI PankajKumarChoubey
01/04/2016 01/04/2015 01/04/2015 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2016 31/03/2016
Disclosure of relationship and transactions between
Disclosure of relationship and transactions between
NARAIN HARI NARAIN HARI
Name of related party GUPTA GUPTA
PRAVEEN CHOKHANI Pankaj Kumar Choubey
Country of incorporation or residence of related

party
Permanent account number of related party ADCPG5897Q ADCPG5897Q ACIPC6088Q AQRPC2959F
Key Management Key Management Key Management Key Management
Description of nature of related party relationship Personnel Personnel Personnel Personnel
Description of nature of transactions with related
REMUNERATION REMUNERATION REMUNERATION REMUNERATION
party
Purchases of goods related party transactions 72,00,000
Advances given during year related party
27,41,600
transactions
Other related party transactions expense (A) 9,76,500
Transaction relating to key management personnel
[Abstract]
Remuneration for key managerial personnel 72,00,000 15,60,000 4,20,000
0 0 0 0
of debts due from related parties, 0.00%
percentage
0 0 0 0
0.00%
of debts due to related parties, percentage
INSURANCE-RS
transactions which are necessary for 976500
Footnotes
(A) INSURANCE PAID
132

Categories of related parties [Axis] SHIBRANJANIGUPTA SHRIBADRINARAININFRASTRUCTURESPRIVATELIMITED VINEETAGUPTA
01/04/2016 01/04/2016 01/04/2015 01/04/2016
to to to to
31/03/2017 31/03/2017 31/03/2016 31/03/2017
SHRI BADRINARAIN SHRI BADRINARAIN
Name of related party SHIBRANJANI GUPTA INFRASTRUCTURES PRIVATE INFRASTRUCTURES PRIVATE VINEETAGUPTA
LIMITED LIMITED
residence of related INDIA INDIA INDIA INDIA
party
Permanent account number of
ARIPG5818K AANCS7194R AANCS7194R ADDPG7238G
related party
CIN of related party U45208WB2009PTC139678 U45208WB2009PTC139678
Enterprises which are owned, or Enterprises which are owned, or
Relatives of Key
Description of nature of related Relatives of Key have significant influence of or are have significant influence of or are
management
party relationship management personnel partners with Key management partners with Key management
personnel
personnel and their relatives personnel and their relatives
Description of nature of transactions
with related SALARY NO TRANSACTION NO TRANSACTION RENT
party
Transaction relating to key
management personnel
[Abstract]
Remuneration for key managerial
2,10,000
personnel
Amount written off during period in
respect 0 0 0 0
Amount written back during period
in respect 0 0 0 0
transactions which are necessary for
RENT-RS 360000
understanding of financial
statements

Categories of related parties [Axis] VRINDAISPATPVTLTD
01/04/2015
to
31/03/2016
Disclosure of relationship and transactions between related parties [Abstract]
Disclosure of relationship and transactions between related parties [LineItems]
Name of related party VRINDA ISPAT PVT LTD
Country of incorporation or residence of related party INDIA
Permanent account number of related party AABCV8071G
CIN of related party U65993WB1988PTC044026
Enterprises which are
owned, or have significant
Description of nature of related party relationship influence of or are partners
with Key management
personnel and their relatives
Description of nature of transactions with related party PURCHASE
Purchases of goods related party transactions 30,630
Advances given during year related party transactions 4,79,071
Amount written off during period in respect of debts due from related parties 0
Amount written back during period in respect of debts due to related parties 0
133

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of notes on related party explanatory [TextBlock]
Whether there are any related party transactions during year Yes Yes
Whether company is subsidiary company No No
[201400] Notes - Leases

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of leases explanatory [TextBlock]
Whether any operating lease has been converted to financial lease or
No No
vice-versa
[300300] Notes - Earnings per share

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016

Disclosure of earnings per share explanatory [TextBlock] [See below] ATTACHED
Weighted average shares and adjusted weighted average shares [Abstract]

Basic weighted average shares [shares] 2,87,53,450 [shares] 2,87,53,450
Adjusted weighted average shares [shares] 0
Diluted weighted average shares [shares] 2,87,53,450 [shares] 2,87,53,450
Adjustments of numerator to calculate basic earnings per share [Abstract]
Numerator to calculate basic earnings per share -97,77,81,009 -27,05,56,661
Adjustments to reconcile numerator to calculate basic
earning per share to net profit or loss as per statement of 0 0
profit or loss
Profit (loss) for period -97,77,81,009 -27,05,56,661
Adjustments of numerator to calculate diluted earnings per share [Abstract]
Numerator to calculate diluted earnings per share -97,77,81,009 -27,05,56,661
Adjustments to reconcile numerator to calculate diluted
earning per share to net profit or loss as per statement of 0 0
profit or loss
Profit (loss) for period -97,77,81,009 -27,05,56,661
Disclosure of earnings per share explanatory [Text Block]

Basic earnings per share are calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted average
number of equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, the net profit or loss for the year attributable to equity shareholders and the weighted
average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares.
134
[202800] Notes - Subsidiary information

01/04/2016
to
31/03/2017
Disclosure of subsidiary information explanatory [TextBlock]
Whether company has subsidiary companies No
Whether company has subsidiary companies which are yet to commence
No
operations
Whether company has subsidiary companies liquidated or sold during year No
[201900] Notes - Income taxes

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016

Disclosure of notes on income taxes explanatory [TextBlock] [See below] ATTACHED
Disclosure of notes on income taxes explanatory [Text Block]

Tax expense comprises of current and deferred tax. Current income tax is measured at the amount expected to be paid to the tax authorities in
accordance with Indian Income Tax Act, 1961. Deferred income taxes reflect the impact of current year timing differences between taxable
income and accounting income for the year and reversal of timing differences of earlier years. Deferred tax is measured based on the tax rates and
the tax laws enacted or substantively enacted at the balance sheet date. Deferred tax assets are recognized only to the extent that there is
reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized. In situations
where the Company has unabsorbed depreciation or carry forward tax losses, entire deferred tax assets are recognized only if there is virtual
certainty supported by convincing evidence that such deferred tax assets can be realized against future taxable profits. At each balance sheet date,
the Company re-assesses unrecognized deferred tax assets. If recognizes unrecognized deferred tax assets to the extent that it has become
reasonably certain or virtually certain, as the case may be, that sufficient future taxable income will be available against which such deferred tax
assets can be realized.
The carrying amount of deferred tax assets are reviewed at each balance sheet date. The Company writes-down the carrying amount of a deferred
tax assets to the extent that it is no longer reasonably certain or virtually certain, as the case may be, that sufficient future taxable income will be
available against which deferred tax assets can be realized. Any such write-down is reversed to the extent that it becomes reasonably certain or
virtually certain, at the case may be, that sufficient future taxable income will be available.
MAT credit is recognized as an asset only when and to the extent there is convincing evidence that the Company will pay normal income tax
during the specified year. In the year in which the Minimum Alternative Tax (MAT) credit becomes eligible to be recognized as an asset in
accordance with the recommendations contained in the guidance note issued by the Institute of Chartered Accountants of India, the said asset is
created by way of a credit to the statement of profit and loss and shown as MAT Credit Entitlement. The Company reviews the same at each
balance sheet date and writes down the carrying amount of MAT Credit Entitlement to the extent there is no longer convincing evidence to the
effect that Company will pay normal income tax during the specified period.
135
[202400] Notes - Investments in associates

01/04/2016
to
31/03/2017
Disclosure of notes on investment in associates explanatory [TextBlock]
Whether company has invested in associates No
Whether company has associates which are yet to commence operations No
Whether company has associates liquidated or sold during year No
[202500] Notes - Financial reporting of interests in joint ventures

01/04/2016
to
31/03/2017
Disclosure of notes on interests in joint ventures explanatory [TextBlock]
Whether company has invested in joint ventures No
Whether company has joint ventures which are yet to commence operations No
Whether company has joint ventures liquidated or sold during year No
[201500] Notes - Impairment

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016

Disclosure of impairment of assets explanatory [TextBlock] [See below] ATTACHED
136
Disclosure of impairment of assets explanatory [Text Block]

The Company assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, or when annual
impairment testing for an asset is required, the company estimates the asset's recoverable amount. An asset's recoverable amount is the higher of
an asset's or cash-generating unit's (CGU) net selling price and its value in use. The recoverable amount is determined for an individual asset,
unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. Where the carrying
amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In
assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current
market assessments of the time value of money and the risks specific to the asset. In determining net selling price, recent market transactions are
taken into account, if available. If no such transactions can be identified, an appropriate valuation model is used.
The Company bases its impairment calculation on detailed budgets and forecast calculations which are prepared separately for each of the
company's cash-generating units to which the individual assets are allocated. These budgets and forecast calculations are generally covering a
period of five years. For longer periods, a long term growth rate is calculated and applied to project future cash flows after the fifth year.
After impairment, depreciation is provided on the revised carrying amount of the asset over its remaining useful life.
An assessment is made at each reporting date as to whether there is any indication that previously recognized impairment losses may no longer
exist or may have decreased. If such indication exists, the company estimates the asset's or cash-generating unit's recoverable amount. A
previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the asset's recoverable
amount since the last impairment loss was recognized. The reversal is limited so that the carrying amount of the asset does not exceed its
recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been
recognized for the asset in prior years. Such reversal is recognized in the statement of profit and loss unless the asset is carried at a revalued
amount, in which case the reversal is treated as a revaluation increase.
[202700] Notes - Cash flow statements

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of cash flow statement explanatory [TextBlock]
Cash and cash equivalents if different from balance sheet [Abstract]
Cash and cash equivalents cash flow statement 2,34,47,077 6,54,98,844
Total cash and cash equivalents 2,34,47,077 6,54,98,844
Income taxes paid (refund) [Abstract]
Income taxes paid (refund), classified as operating activities 3,40,160 0
Total income taxes paid (refund) 3,40,160 0
137
[100200] Statement of profit and loss

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Statement of profit and loss [Abstract]
Disclosure of revenue from operations [Abstract]
Disclosure of revenue from operations for other than finance company
[Abstract]
Revenue from sale of products 469,48,95,077 553,41,10,419
Revenue from sale of services 0 0
Other operating revenues 0 0
Total revenue from operations other than finance company 469,48,95,077 553,41,10,419
Total revenue from operations 469,48,95,077 553,41,10,419
Other income 13,16,215 40,83,495
Total revenue 469,62,11,292 553,81,93,914
Expenses [Abstract]
Cost of materials consumed 428,97,35,738 450,65,17,096
Purchases of stock-in-trade 0 0
Changes in inventories of finished goods, work-in-progress and
-7,64,84,926 5,12,28,066
stock-in-trade
Employee benefit expense 6,35,63,744 5,91,12,653
Finance costs 27,77,03,111 34,17,79,850
Depreciation, depletion and amortisation expense [Abstract]
Depreciation expense 13,92,57,474 11,83,69,435
Total depreciation, depletion and amortisation expense 13,92,57,474 11,83,69,435
Expenditure on production, transportation and other expenditure
0 0
pertaining to exploration and production activities
CSR expenditure 20,000 27,010
Other expenses 97,85,17,515 72,42,67,734
Total expenses 567,23,12,656 580,13,01,844
Total profit before prior period items, exceptional items, extraordinary
-97,61,01,364 -26,31,07,930
items and tax
Exceptional items before tax -13,39,485 -74,48,731
Total profit before extraordinary items and tax -97,74,40,849 -27,05,56,661
Total profit before tax -97,74,40,849 -27,05,56,661
Tax expense [Abstract]
Current tax 3,40,160 0
Total tax expense 3,40,160 0
Total profit (loss) for period from continuing operations -97,77,81,009 -27,05,56,661
Total profit (loss) for period before minority interest -97,77,81,009 -27,05,56,661
Total profit (loss) for period -97,77,81,009 -27,05,56,661
Earnings per equity share [Abstract]
Basic earning per equity share [INR/shares] -34.01 [INR/shares] -9.41
Diluted earnings per equity share [INR/shares] -34.01 [INR/shares] -9.41
Nominal value of per equity share [INR/shares] 10 [INR/shares] 10
138
[300500] Notes - Subclassification and notes on income and expenses

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Subclassification and notes on income and expense explanatory [TextBlock]
Disclosure of revenue from sale of products [Abstract]
Revenue from sale of products [Abstract]
Revenue from sale of products, gross 469,48,95,077 553,41,10,419
Brokerage discounts rebates on revenue from sale of products 0 0
Returns on revenue from sale of products 0 0
Other allowances deductions on revenue from sale of products 0 0
Total revenue from sale of products 469,48,95,077 553,41,10,419
Disclosure of revenue from sale of services [Abstract]
Revenue from sale of services [Abstract]
Revenue from sale of services, gross 0 0
Total revenue from sale of services 0 0
Disclosure of other operating revenues [Abstract]
Other operating revenues [Abstract]
Miscellaneous other operating revenues 0 0
Total other operating revenues 0 0
Disclosure of other income [Abstract]
Interest income [Abstract]
Interest income on long-term investments [Abstract]
Interest on other long-term investments 0 0
Total interest income on long-term investments 0 0
Total interest income 0 0
Dividend income [Abstract]
Dividend income current investments [Abstract]
Dividend income current investments from others 0 0
Total dividend income current investments 0 0
Dividend income long-term investments [Abstract]
Dividend income long-term equity securities 0 0
Dividend income long-term investments from others 0 0
Total dividend income long-term investments 0 0
Total dividend income 0 0
Net gain/loss on sale of investments [Abstract]
Net gain/loss on sale of long-term investments 0 0
Total net gain/loss on sale of investments 0 0
Other non-operating income [Abstract]
Net gain/loss on foreign currency fluctuations treated as other
0 0
income
Income insurance claims 74,877 27,59,757
Miscellaneous other non-operating income 12,41,338 13,23,738
Total other non-operating income 13,16,215 40,83,495
Total other income 13,16,215 40,83,495
Disclosure of finance cost [Abstract]
Interest expense [Abstract]
Interest expense long-term loans [Abstract]
Interest expense long-term loans, banks 8,76,60,059 13,24,33,854
Total interest expense long-term loans 8,76,60,059 13,24,33,854
Interest expense short-term loans [Abstract]
Interest expense short-term loans, banks 18,71,74,779 19,56,57,404
Total interest expense short-term loans 18,71,74,779 19,56,57,404
Other interest charges 28,68,273 1,36,88,592
Total interest expense 27,77,03,111 34,17,79,850
Total finance costs 27,77,03,111 34,17,79,850
Employee benefit expense [Abstract]
Salaries and wages 4,40,44,976 3,90,45,632
Managerial remuneration [Abstract]
Remuneration to directors [Abstract]
139
Salary to directors 1,44,00,000 1,44,00,000

Other benefits to directors 11,05,820 12,62,730
Total remuneration to directors 1,55,05,820 1,56,62,730
Total managerial remuneration 1,55,05,820 1,56,62,730
Contribution to provident and other funds [Abstract]
Contribution to provident and other funds for others 35,04,123 33,65,003
Total contribution to provident and other funds 35,04,123 33,65,003
Staff welfare expense 5,08,825 10,39,288
Total employee benefit expense 6,35,63,744 5,91,12,653
Breakup of other expenses [Abstract]
Consumption of stores and spare parts 13,40,24,826 7,41,67,154
Power and fuel 61,97,53,886 39,92,54,120
Rent 69,01,970 32,30,309
Repairs to building 1,96,793 51,876
Repairs to machinery 18,00,215 12,70,019
Insurance 30,33,465 26,36,909
Rates and taxes excluding taxes on income [Abstract]
Provision wealth tax 0 0
Total rates and taxes excluding taxes on income 0 0
Electricity expenses 11,85,700 12,29,878
Telephone postage 25,46,779 32,12,095
Printing stationery 7,10,873 8,97,363
Information technology expenses 0 0
Travelling conveyance 2,30,53,288 2,49,34,431
Legal professional charges 6,29,788 81,790
Vehicle running expenses 41,10,304 45,22,947
Safety security expenses 47,12,808 41,29,464
Directors sitting fees 0 15,000
Donations subscriptions 24,24,822 14,92,627
Bank charges 1,34,53,524 2,04,98,509
Advertising promotional expenses 9,57,456 26,33,066
Discounting charges 1,91,87,072 80,28,597
Cost repairs maintenance other assets 35,01,531 17,73,242
Cost transportation [Abstract]
Cost freight 6,16,58,936 10,84,30,594
Total cost transportation 6,16,58,936 10,84,30,594
Provision bad doubtful debts created 0 0
Provision bad doubtful loans advances created 0 0
Write-off assets [Abstract]
Miscellaneous expenditure written off [Abstract]
Other miscellaneous expenditure written off 3,63,13,782 0
Total miscellaneous expenditure written off 3,63,13,782 0
Bad debts written off 0 0
Bad debts advances written off 0 0
Total write-off assets 3,63,13,782 0
Loss on disposal of intangible asset 0 0
Loss on disposal, discard, demolishment and destruction of depreciable
0 0
tangible asset
Payments to auditor [Abstract]
Payment for audit services 2,00,000 2,00,000
Total payments to auditor 2,00,000 2,00,000
Payments to cost auditor [Abstract]
Payment for cost audit charges 28,000 28,000
Total payments to cost auditor 28,000 28,000
Miscellaneous expenses 3,81,31,697 6,15,49,744
Total other expenses 97,85,17,515 72,42,67,734
Breakup of expenditure on production, transportation and other
expenditure pertaining to exploration and production activities
[Abstract]
Other expenditure pertaining to exploration and production activities 0 0
Total expenditure on production, transportation and other
0 0
expenditure pertaining to exploration and production activities
Current tax [Abstract]
Current tax pertaining to previous years 3,40,160 0
Current tax pertaining to current year 0 0
140
Total current tax 3,40,160 0
[300600] Notes - Additional information statement of profit and loss
Details of goods purchased [Table] ..(1)

Categories of goods purchased [Axis] Goods purchased [Member] Goods purchased 1 [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Additional information on profit and loss account
[Abstract]
Additional details in case of manufacturing companies
[Abstract]
Details of goods purchased [Abstract]
Details of goods purchased [LineItems]
Description of goods purchased RM RM RM RM
Total goods purchased 0 0 0 0
Details of raw materials consumed [Table] ..(1)

Categories of raw materials consumed [Axis] Raw materials consumed [Member] Raw materials consumed 1 [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Additional details in case of manufacturing companies
[Abstract]
Details of raw materials consumed [Abstract]
Details of raw materials consumed [LineItems]
Description of raw materials category INVENTORY RAW MATERIAL INVENTORY RAW MATERIAL
Total raw materials consumed 428,97,35,738 450,65,17,096 428,97,35,738 450,65,17,096
Details of raw materials, spare parts and components consumed [Table] ..(1)
Raw materials spare parts and
Details of raw materials, spare parts and components consumed [Axis] Raw materials consumed [Member]
components consumed [Member]
Subclassification of raw materials, spare parts and components
Imported and indigenous [Member] Imported and indigenous [Member]
consumed [Axis]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Details of raw materials, spare parts and components
consumed [Abstract]
Details of raw materials, spare parts and
components consumed [LineItems]
Value consumed 427,58,69,593 458,06,84,250 414,18,44,767 450,65,17,096
Percentage of consumption 200.00% 200.00% 100.00% 100.00%
141
Spare parts
Details of raw materials, spare parts and components consumed [Axis] Raw materials consumed [Member] consumed
[Member]
Imported and
Subclassification of raw materials, spare parts and components Imported
Indigenous [Member] indigenous
consumed [Axis] [Member]
[Member]
01/04/2015 01/04/2016 01/04/2015 01/04/2016
to to to to
31/03/2016 31/03/2017 31/03/2016 31/03/2017
[Abstract]
Details of raw materials, spare parts and components
consumed [Abstract]
Details of raw materials, spare parts and
components consumed [LineItems]
Value consumed 6,91,84,573 414,18,44,767 443,73,32,523 13,40,24,826
Percentage of consumption 2.00% 100.00% 98.00% 100.00%
Details of raw materials, spare parts and components consumed [Axis] Spare parts consumed [Member]
Imported and
Subclassification of raw materials, spare parts and components consumed [Axis] indigenous Indigenous [Member]
[Member]
01/04/2015 01/04/2016 01/04/2015
to to to
31/03/2016 31/03/2017 31/03/2016
Additional information on profit and loss account [Abstract]
Details of raw materials, spare parts and components consumed
[Abstract]
Details of raw materials, spare parts and components consumed
[LineItems]
Value consumed 7,41,67,154 13,40,24,826 7,41,67,154
Percentage of consumption 100.00% 100.00% 100.00%
142

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Additional information on profit and loss account explanatory [TextBlock]
Changes in inventories of finished goods -7,64,84,926 5,12,28,066
Total changes in inventories of finished goods, work-in-progress and
-7,64,84,926 5,12,28,066
stock-in-trade
Exceptional items before tax -13,39,485 -74,48,731
Total exceptional items -13,39,485 -74,48,731
Total exceptional and extraordinary items -13,39,485 -74,48,731
PRIOR PERIOD ADJUSTMENTS PRIOR PERIOD ADJUSTMENTS
Details of nature of exceptional items AND LOSS ON SALE OF FIXED AND LOSS ON SALE OF FIXED
ASETS ASETS
Revenue other services 0 0
Total gross income from services rendered 0 0
Value of imports of raw materials 0 0
Value of imports of capital goods 0 0
Total value of imports calculated on CIF basis 0 0
Expenditure on other matters 97,30,041 1,59,20,055
Expenditure on dividend paid 0 0
Total expenditure in foreign currency 97,30,041 1,59,20,055
Special dividend remitted in foreign currency 0 0
Total amount of dividend remitted in foreign currency 0 0
FOB value of traded goods exported 0 0
Total earnings on export of goods calculated on FOB basis 0 0
Earnings on professional and consultation fees 0 0
Total earnings on royalty, know-how, professional and
0 0
consultation fees
Earnings on dividend 0 0
Total earnings on interest and dividend 0 0
Earnings on other income 0 0
Total earnings in foreign currency 0 0
Domestic sale manufactured goods 469,48,95,077 553,41,10,419
Domestic sale traded goods 0 0
Total domestic turnover goods, gross 469,48,95,077 553,41,10,419
Export sale manufactured goods 0 0
Export sale traded goods 0 0
Total export turnover goods, gross 0 0
Total revenue from sale of products 469,48,95,077 553,41,10,419
Domestic revenue services 0 0
Export revenue services 0 0
Total revenue from sale of services 0 0
Gross value of transaction with related parties as per AS-18 9,81,45,711 15,49,75,257
Bad debts of related parties as per AS-18 0 0
[300100] Notes - Revenue

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016

Disclosure of revenue explanatory [TextBlock] [See below] ATTACHED
143
Disclosure of revenue explanatory [Text Block]

Revenue Recognition
All expenses and incomes to the extent considered payable and receivable respectively unless specifically stated to be otherwise are accounted for
on mercantile basis.
Sale of products
Revenue from sale of goods is recognized when all the significant risks and rewards of ownership of the goods have been passed to the buyer,
usually on delivery of the goods. The company collects excise duty, sales taxes and value added taxes (VAT) on behalf of the government and,
therefore, these are not economic benefits flowing to the company. Hence, they are excluded from revenue.
Interest
Interest income is recognized on a time proportion basis taking into account the amount outstanding and the applicable interest rate. Interest
income is included under the head "other income" in the statement of profit and loss.
Interest paid has been accounted for on the basis of interest debited by Bank. The amount not debited by Bank has not been accounted for as the
amount not accounted for cannot be ascertain.
Dividends
Dividend income is recognized when the Company's right to receive dividend is established by the reporting date
[202200] Notes - Effects of changes in foreign exchange rates

31/03/2017 31/03/2016
Disclosure of notes on effect of changes in foreign exchange rates
explanatory [TextBlock]
Details of change in classification of significant foreign operation
[Abstract]
Impact of change in classification of significant foreign operation
0 0
on shareholders' fund
144
[300700] Notes - Key managerial personnels and directors remuneration and other information
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors [Table] ..(1)
Key managerial personnels and directors [Axis] ASOKKUMAR AVINASHCHANDRAGUPTA AshutoshSharma MANMOHANSINGH
01/04/2016 01/04/2016 01/04/2016 01/04/2016
to to to to
31/03/2017 31/03/2017 31/03/2017 31/03/2017
Disclosure of key managerial personnels and directors
and
remuneration to key managerial personnels and directors
[Abstract]
and remuneration to key managerial personnels and
directors [LineItems]
AVINASH CHANDRA (A) Ashutosh (B) MANMOHAN
Name of key managerial personnel or director ASOK KUMAR
GUPTA Sharma SINGH
Director identification number of key managerial
03344427 00029546 06723986
personnel or director
Permanent account number of key managerial
ADWPG5103F BFOPS9730K
Date of birth of key managerial personnel or
30/09/1941 10/08/1955 10/08/1984 14/08/1987
director
Independent
Designation of key managerial personnel or director Director
Managing Director Company Secretary Whole Time Director
Qualification of key managerial personnel or POST

GRADUATE CS BA, PGDBM
director GRADUATE
Shares held by key managerial personnel or director [shares] 0 [shares] 6,95,400 [shares] 0 [shares] 0
Key managerial personnel or director remuneration
[Abstract]
Gross salary to key managerial personnel or
director [Abstract]
Salary key managerial personnel or director 0 72,00,000 0 2,40,000
Perquisites key managerial personnel or
0 6,31,260 0 0
director
0 78,31,260 0 2,40,000
director
Sitting fees key managerial personnel or
5,000 0 0
director
Other compensation key managerial personnel or
0 0 0
director
Total key managerial personnel or director
5,000 78,31,260 0 2,40,000
remuneration
Footnotes
(A) Appointed w.e.f 15/03/2017
(B) Resigned w.e.f 10.02.2017
145
Key managerial personnels and directors [Axis] NARAINHARIGUPTA PRAVEENCHOKHANI PRERNAPRIYA PankajKumarChoubey
01/04/2016 01/04/2016 01/04/2016 01/04/2016
to to to to
31/03/2017 31/03/2017 31/03/2017 31/03/2017
Disclosure of key managerial personnels and directors and

[Abstract]
and remuneration to key managerial personnels and
directors [LineItems]
NARAIN HARI (A) Pankaj Kumar
Name of key managerial personnel or director GUPTA
PRAVEEN CHOKHANI PRERNA PRIYA
Choubey
Director identification number of key managerial
00038819 07156870
Permanent account number of key managerial
ADCPG5897Q ACIPC6088Q AQRPC2959F
Date of birth of key managerial personnel or
25/10/1966 08/01/1962 08/12/1987 15/08/1988
director
Independent
Designation of key managerial personnel or director Managing Director CFO
Director
Company Secretary
Qualification of key managerial personnel or

GRADUATE CA CS CS
director
Shares held by key managerial personnel or director [shares] 77,165 [shares] 0 [shares] 0 [shares] 0
Key managerial personnel or director remuneration
[Abstract]
director [Abstract]
Salary key managerial personnel or director 72,00,000 15,60,000 0 3,09,360
Perquisites key managerial personnel or
16,43,060 0 0 0
director
88,43,060 15,60,000 0 3,09,360
director
Sitting fees key managerial personnel or
0 0 5,000 0
director
Other compensation key managerial personnel or
0 0 0 0
director
Total key managerial personnel or director
88,43,060 15,60,000 5,000 3,09,360
remuneration
Footnotes
(A) Resignedw.e.f 29/08/2016
146
Key managerial personnels and directors [Axis] SOMNATHMUKHERJEE SanjayKumarRai TARITKUMARSANYAL
01/04/2016 01/04/2016 01/04/2016
to to to
31/03/2017 31/03/2017 31/03/2017
remuneration to key managerial personnels and directors [Abstract]
[LineItems]
(A) S O M N A T H (B) Sanjay Kumar (C) TARIT KUMAR
Name of key managerial personnel or director MUKHERJEE Rai SANYAL
Director identification number of key managerial personnel or
06399124 07586578
director
Permanent account number of key managerial personnel or director AFSPM9462R ACDPR6688L AHJPS5292G
Date of birth of key managerial personnel or director 27/11/1967 17/01/1969 01/01/1948
Designation of key managerial personnel or director Whole Time Director Company Secretary Director
Qualification of key managerial personnel or director B TECH CS M.A in English
Shares held by key managerial personnel or director [shares] 0 [shares] 0 [shares] 0
Key managerial personnel or director remuneration [Abstract]
Gross salary to key managerial personnel or director [Abstract]
Salary key managerial personnel or director 2,34,194 6,05,681 12,00,000
Perquisites key managerial personnel or director 0 0 0
Gross salary to key managerial personnel or director 2,34,194 6,05,681 12,00,000
Sitting fees key managerial personnel or director 0
Other compensation key managerial personnel or director 0
Total key managerial personnel or director remuneration 2,34,194 6,05,681 12,00,000
Footnotes
(A) Resigned w.e.f 29/07/2016
(B) Resigned w.e.f 15/03/2017
(C) joined on 10.08.2016
[301000] Notes - Corporate social responsibility

01/04/2016
to
31/03/2017
Disclosure of corporate social responsibility explanatory [TextBlock]
Whether provisions of corporate social responsibility are applicable on
No
company
Whether company has written CSR policy No
147

Annual Report 2017 PDF

Transféré par

Informations du document

Titre original

Copyright

Formats disponibles

Partager ce document

Partager ou intégrer le document

Options de partage

Avez-vous trouvé ce document utile ?

Ce contenu est-il inapproprié ?

Droits d'auteur :

Formats disponibles

Annual Report 2017 PDF

Transféré par

Droits d'auteur :

Formats disponibles

SHRI BADRINARAIN ALLOYS & STEEL LTD.

Standalone Financial Statements for period 01/04/2016 to 31/03/2017

[400100] Disclosure of general information about company

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

[400400] Disclosures - Directors report

Details of shareholding pattern of top 10 shareholders [Table] ..(1)

Details of shareholding pattern of top 10 shareholders [Table] ..(2)

Details of shareholding pattern of top 10 shareholders [Table] ..(3)

Increase decrease in shareholding during year [shares] 0 [shares] 0

Details of shareholding pattern [Table] ..(1)

Details of shareholding pattern [Table] ..(2)

Details of shareholding pattern [Table] ..(3)

Details of shareholding pattern [Table] ..(4)

Details of shareholding pattern [Table] ..(5)

Details of shareholding pattern [Table] ..(6)

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

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

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

Details of shareholding of promoters [Table] ..(1)

Details of shareholding of promoters [Table] ..(2)

Details of shareholding of promoters [Table] ..(3)

Unless otherwise specified, all monetary values are in INR

Details of shareholding pattern of directors and key managerial

Textual information (1)

Disclosure in board of directors report explanatory [Text Block]

Summary of Financial Results (Rs inlacs)

Performance and Operational Review and State of Company affairs:

Change in Nature of Business:

Subsidy/Associate/Joint Venture Company:

Extension of date of Holding Annual General Meeting of the Company:

Directors and Key Managerial Personnel:

Directors' Responsibility Statement:

Auditor and Auditors Report:

Risk Management Policy:

(a) Strategic Risks,

(b) Operational Risks and

(c) Financial and Compliance related Risks.

Related Party Transactions:

Conservation of Energy, Technology absorption, Foreign Exchange earnings and outgo:

C. Research and Development (RandD)

D. Foreign Exchange Earnings and Outgo

I) Foreign Exchange earnings : NIL

II) Foreign Exchange Out go :

S.L No Item 31st March,2017 31st March,2016

Particulars of Loans, Guarantees or Investments:

Extract of Annual Return:

Management Discussion and Analysis Report:

Listing with stock exchanges:

Material Changed occurred after end of Financial Year:

Corporate Social Responsibility (CSR):

- Attendance and participation in the meetings;

- Preparedness for the meetings;

- Understanding of the Company and the external environment in which it operates

And- constructive contribution to issues and active participation at meetings

The Committee found the Directors to be fulfilling the above criterions.

For and on behalf of Board of Directors.

Date- 14th November 2017

Place Kolkata (AvinashChandraGupta) (NarainHariGupta

Managing Director Jt. Managing Director

Form No. MR-3

SECRETARIAL AUDIT REPORT

FOR THE FINANCIAL YEAR ENDED 31ST MARCH 2017

SHRI BADRINARAIN ALLOYS and STEEL LTD.