File_2012_Document1

126 Jindal Steel & Power Limited Business Leadership Sustainable Operations Excellent Governance Robust FinancialsStandaloneAnnual Report 2011-12127NOTES to the financial statements as at and for the year ended 31st March, 2012 NOTES to the financial statements as at and for the year ended 31st March, 2012As at31st March, 2012(` in Crore)As at31st March, 20114 RESERVES AND SURPLUS (CONTD.)Add: Transferred from share options outstanding account 0.96 15.68Closing Balance 122.72 118.93Note no.-3 (f)d) Debenture Redemption ReserveAs per last financial statements 151.00 74.00Add: Transferred from statement of Profit and loss 103.00 77.00Closing Balance 254.00 151.00e) Share Option Outstanding AccountAs per last financial statements 1.79 22.34Less: Transferred to securities premium reserve (0.96) (15.68)Less: Deferred employee stock compensation (0.83) (4.87)Closing Balance - 1.79f) Other ReservesCentral/State Subsidy ReserveAs per last financial statements 0.12 0.24Less: Transfer to General reserve - (0.12)Closing Balance 0.12 0.12Foreign Currency Translation ReserveAs per last financial statements (17.09) (1.57)Add: During the year 157.06 (15.52)Closing Balance 139.97 (17.09)General ReserveAs per last financial statements 960.40 750.28Add: Transferred from statement of profit and loss 220.00 210.00Add: Transfer from Central/State Subsidy Reserve - 0.12Closing Balance 1,180.40 960.40g) Surplus in Statement of profit and lossAs per last financial statements 7,112.01 5,478.83Add: During the year 2,110.65 2,064.12Less: AppropriationsTransfer to Debenture Redemption Reserve 103.00 77.00Transfer to General Reserve 220.00 210.00Proposed dividend on equity shares (amount per share ` 1.60, previous year149.46 140.19` 1.50)Corporate tax on proposed dividend 3.15 3.75Net Surplus in the statement of Profit and Loss 8,747.05 7,112.01Total Reserves & Surplus 10,751.93 8,595.91The Company has made a provision of ` 3.15 crore (Previous year ` 3.75 crore) net of reversal of ` 0.02 crore (Previousyear ` 0.02 crore) for Corporate dividend tax on the amount of dividend proposed for the year ended 31st March, 2012after considering the set-off of interim dividend declared by a subsidiary company for the same financial year, as per theprovisions of section 115-O of the Income Tax Act, 1961.In the previous year, dividend proposed relating to the shares under ESOS was made on the basis of options vested butnot exercised till the end of the financial year. Provision made in respect of options lapsed and not exercised in the currentyear has been adjusted with the dividend proposed for the year ended on 31st March, 2012.(` in Crore)Non-Current PortionCurrent Portion31st March, 2012 31st March, 2011 31st March, 2012 31st March, 20115 LONG-TERM BORROWINGSa) Secured Long term borrowingsi) Debentures9.80% Secured Redeemable Non62.00 62.00 - -Convertible Debentures of` 1,000,000 each(Privately placed with SBI LifeInsurance Company Limited)9.80% Secured Redeemable Non1,000.00 1,000.00 - -Convertible Debentures of` 1,000,000 each(Privately placed with Life InsuranceCorporation of India)9.80% Secured Redeemable Non500.00 500.00 - -Convertible Debentures of` 1,000,000 each(Privately placed with Life InsuranceCorporation of India)8.50% Secured Redeemable Non25.00 25.00 - -Convertible Debentures of` 1,000,000 each(Privately placed with ICICI LombardGeneral Insurance Company Limited)8.50% Secured Redeemable Non55.00 75.00 - -Convertible Debentures of` 1,000,000 each(Privately placed with ICICI PrudentialLife Insurance Company Limited)8.50% Secured Redeemable Non20.00 - - -Convertible Debentures of` 1,000,000 each(Privately placed with United IndiaInsurance Company Limited)6.75% Secured Redeemable Non- - - 100.00Convertible Debentures of` 1,000,000 each(Privately placed with LIC MutualFund Asset Management CompanyLimited)1,662.00 1,662.00 - 100.00ii) Term Loans from Banks 4,696.69 2,810.72 316.97 342.16iii) Other Loans from Banks 41.77 194.26 - -4,738.46 3,004.98 316.97 342.16Secured Long term borrowings 6,400.46 4,666.98 316.97 442.16