Annual Reports - Indraprastha Gas Limited
Annual Reports - Indraprastha Gas Limited
Annual Reports - Indraprastha Gas Limited
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4. Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances)<br />
Rs 701,143,333 (previous year Rs 639,812,199).<br />
5. The Company has installed CNG Stations on land leased from various Government Authorities under leases for periods<br />
ranging from one to five years. However, assets constructed/installed on such land are depreciated generally at the rates<br />
specified in Schedule XIV to the Companies Act, 1956, as the management does not foresee non-renewal of the above<br />
lease arrangements by the Authorities.<br />
6. Deposits from customers of natural gas, refundable on termination/alteration of the gas sales agreements, are considered<br />
as long term funds.<br />
7. Earnings per share<br />
47<br />
For the Year ended For the Year ended<br />
March 31, 2009 March 31, 2008<br />
Net profit attributable to Shareholders (in Rs.) 1,724,742,617 1,744,555,553<br />
Weighted average number of equity shares (Nos.) 140,000,160 140,000,160<br />
Nominal value per share (in Rs.) 10 10<br />
Basic earnings per share of Rs 10 each (in Rs.) 12.32 12.46<br />
The Company does not have any outstanding dilutive potential equity shares. Consequently, the basic and diluted earnings<br />
per share of the Company remain the same.<br />
8. Segment reporting<br />
The Company operates in a single segment of Natural <strong>Gas</strong> Business mainly in the National Capital Region and therefore<br />
the disclosure requirements as per Accounting Standard 17 “Segment Reporting” are not applicable to the Company.<br />
9. Management has carried out a review of the carrying value of assets as at 31 March 2009 in accordance with the provisions of<br />
Accounting Standard – 28, Impairment of Assets. Based on the review, the management is of the opinion that there are no<br />
impairment indicators that necessitate any adjustments to the carrying value of assets.<br />
10. Managerial remuneration under Section 198 of the Companies Act, 1956 (see note below)<br />
For the year ended For the year ended<br />
31 March, 2009 (Rs.) 31 March, 2008 (Rs.)<br />
Managing Director<br />
Salary and allowances 1,404,853 1,229,845<br />
Perquisites 321,169 132,306<br />
Contribution to provident and other funds* 162,756 76,419<br />
Commission on Profit for financial year 2007-08 559,062 -<br />
2,447,840 1,438,570<br />
Whole Time Director (refer note below)<br />
Salary and allowances 1,555,066 1,290,036<br />
Perquisites 599,545 355,889<br />
Contribution to provident and other funds* 86,470 78,891<br />
2,241,081 1,724,816<br />
Total 4,688,921 3,163,386<br />
* Does not include provisions for employee retirement benefits, which are based on actuarial valuation carried out on overall Company basis.