Annual Reports - Indraprastha Gas Limited

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Note: Managerial Remuneration does not include: 1. Rs. 559,062 paid to Whole Time Director towards commission on profit for the financial year 2007-08, since the amount was refunded by him and the same was subsequently paid to his parent organization Bharat Petroleum Corporation Limited as per his advice. 2. Rs. 1,500,000 payable to Managing Director and Whole Time Director as commission on profit based on the period of directorship held during the financial year ended on 31.03.2009, since the amount will be paid to their parent organization as per their advice. 11. Operating lease arrangements The Company has taken certain equipments and vehicles under operating lease agreements. The total lease rentals recognized as expense during the year under the above lease agreements aggregates Rs 7,640,132 (previous year Rs 68,960,508). Lease obligations under non-cancellable periods are as follows: For the year ended For the year ended 31 March, 2009(Rs.) 31 March, 2008(Rs.) Amounts payable in next one year 62,709,385 21,548,841 Amounts payable in next two to five years 103,919,640 - Amounts payable over 5 years - - 12. Additional information pursuant to the provisions of paragraphs 3 and 4 of Part II of Schedule VI of the Companies Act, 1956. a) Licensed and installed capacity The Company is operating on the basis of allocation of 2.70 Million Metric Standard Cubic Meters per day (MMSCMD, previous year 2.70 MMSCMD) of natural gas on firm basis by the order from Ministry of Petroleum & Natural Gas. b) Information regarding purchases, sales and stock For the year ended 31 March 2009 For the year ended 31 March 2008 Quantity Amount(Rs.) Quantity Amount(Rs.) Opening stock Natural Gas (SCM) 208,736 1,060,381 204,160 10,14,677 Compressed Natural Gas (SCM) 313,300 2,149,941 304,721 21,25,377 Total 3,210,322 3,140,054 Purchases of Natural Gas (SCM) Sales 713,335,578 4,108,297,315 598,468,703 3,029,441,504 Piped Natural Gas (SCM) 54,257,774 998,812,253 42,860,910 761,858,220 Compressed Natural Gas (SCM) 605,255,608 8,622,560,582 504,621,981 7,336,122,336 (460,380,919 Kgs) (386,220,911 kgs) Total sales 9,621,372,835 8,097,980,556 Internal consumption Closing stock 38,679,264 200,072,098 35,346,194 178,851,742 Natural Gas (SCM) 234,956 1,258,430 208,736 1,060,381 Compressed Natural Gas (SCM) 368,342 2,580,729 313,300 2,149,941 Total closing stock Notes: 3,839,159 3,210,322 1. Difference in reconciliation of opening stock, purchases, sales and closing stock of gas quantities is on account of measurement tolerance and normal loss of 15,061,670 SCM (previous year 15,626,463 SCM). 2. Natural gas is purchased in SCM and Compressed Natural Gas is sold in Kgs. 3. Sale of CNG is net of discounts and gross of excise duty. 48
c) Value of imported and indigenous stores and spares and percentage thereof to the total consumption For the year ended 31 March 2009 For the year ended 31 March 2008 Amount (Rs.) % Amount (Rs.) % Stores and spares Imported 58,687,263 29 51,461,062 30 Indigenous 142,366,456 71 117,656,660 70 Total 201,053,719 100 169,117,722 100 13. CIF value of imports For the year ended For the year ended 31 March, 2009(Rs.) 31 March, 2008(Rs.) Capital goods 541,675,978 135,362,343 Spares and components 50,727,677 45,203,928 14. Auditors’ remuneration* For the year ended For the year ended Statutory Audit: 31 March, 2009(Rs.) 31 March, 2008(Rs.) - Audit fee 1,000,000 875,000 - Limited review 375,000 375,000 Other services 100,000 - Reimbursement of expenses * Excluding Service Tax 15,000 20,000 15. Related Party transactions Following related party transactions were carried out during the year: Name of the Nature of Nature of transaction For the year For the year related party relationship ended ended 31 March 2009 31 March 2008 (Rs.) (Rs.) GAIL (India) Promoter Purchase of natural gas 4,081,008,882 3,074,935,708 Limited Venturer (including service tax cenvatable and VAT) Salaries, allowances and other related payments 3,042,057 1,869,329 Reimbursement of expenses 174,433 29,882 Purchase of MDPE Pipes - 792,497 Security Deposit 25,918,690 6,900,000 Balance receivable/(payable) (223,844,613) (137,171,068) Bharat Petroleum Promoter Sale of CNG (Gross) 576,895,847 459,674,341 Corporation Limited Venturer Salaries, allowances and other related payments 3,025,126 2,009,206 Advance for natural gas & diesel - 29,618,975 Reimbursement of expenses 46,087,575 36,532,292 Purchases of natural gas 117,440,319 56,431,231 Purchases of lubricants 13,384,055 8,142,836 Commission income for sale of lubricant 68,863 197,192 Other expenses 1,148,124 - Balance receivable/(payable) 23,655,082 62,701,206 49
Page 3 and 4: BOARD OF DIRECTORS Shri B.C. Tripat
Page 5 and 6: Shri Murli Deora, Hon’ble Union M
Page 7 and 8: Smt Pratibha Devi Singh Patil, Hon
Page 9 and 10: Companies (Disclosure of Particular
Page 11 and 12: Dr. U.D. Choubey, Chairman & Managi
Page 13 and 14: FORM-B EFFORTS MADE IN TECHNOLOGY A
Page 15 and 16: REPORT ON CORPORATE GOVERNANCE I. C
Page 17 and 18: CODE OF CONDUCT The Board of Direct
Page 19 and 20: DETAILS OF SHAREHOLDERS’ COMPLAIN
Page 21 and 22: AT NATIONAL STOCK EXCHANGE (NSE) MO
Page 23 and 24: NON-MANDATORY REQUIREMENTS (1) CHAI
Page 25 and 26: MANAGEMENT DISCUSSION AND ANALYSIS
Page 27 and 28: Earnings per share Earnings per sha
Page 29 and 30: ANNEXURE TO THE AUDITORS’ REPORT
Page 31 and 32: 11. Based on our examination of the
Page 33 and 34: BALANCE SHEET AS AT MARCH 31, 2009
Page 35 and 36: PROFIT AND LOSS ACCOUNT FOR THE YEA
Page 37 and 38: CASH FLOW STATEMENT FOR THE YEAR EN
Page 39 and 40: SCHEDULES FORMING PART OF THE ACCOU
Page 47 and 48: 2.4 Depreciation and amortization (
Page 49: 4. Estimated amount of contracts re
Page 53 and 54: D. Balance Sheet Reconciliation 51

Annual Reports - Indraprastha Gas Limited

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