File_2012_Document1

140 Jindal Steel & Power Limited Business Leadership Sustainable Operations Excellent Governance Robust FinancialsStandaloneAnnual Report 2011-12141NOTES 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, 2012(` in Crore)For the year ended31st March, 2012For the year ended31st March, 201121 REVENUE FROM OPERATIONSa) Sale of productsFinished goods 14,178.62 10,196.63Traded goods 439.49 179.73Inter-division transfer 2,856.43 1,698.3017,474.54 12,074.66b) Other operating revenuesScrap sale 43.87 13.48Export incentives 39.61 19.04Aviation income 22.25 22.30Transmission charges - 19.60Others 17.97 10.19123.70 84.61Less: Inter-division transfer (2,856.43) (1,698.30)Total Revenue from operations 14,741.81 10,460.97(` in Crore)For the year ended31st March, 2012For the year ended31st March, 201122 OTHER INCOMEa) Dividend Income 130.06 117.10[includes ` 130.06 crore from a subsidiary (Previous year ` 117.05 crore)]b) Net gain on sale of investments 0.44 1.13c) Other Non Operating IncomeProfit On sale/transfer of fixed assets 11.06 2.13Liability/provisions no longer required, written back 19.43 1.79Others 23.49 21.01Total Other Income 184.48 143.16Total Revenue 14,926.29 10,604.13For the year ended31st March, 2012(` in Crore)For the year ended31st March, 201123 COST OF MATERIALS CONSUMEDa) Raw material consumed 4,529.84 2,730.35b) Inter division transfer 2,856.43 1,698.307,386.27 4,428.65Less:Inter division transfer (2,856.43) (1,698.30)Total Cost of Material Consumed 4,529.84 2,730.35For the year ended31st March, 2012(` in Crore)For the year ended31st March, 201124 PURCHASE OF STOCK-IN-TRADE 452.75 176.80(` in Crore)For the year ended31st March, 2012For the year ended31st March, 201125 CHANGES IN INVENTORIES OF FINISHED GOODS, WORK-IN-PROCESSAND STOCK-IN-TRADEOpening Stock - Finished Goods* 872.50 560.43- Work in Process 165.58 119.72- Scrap 6.56 0.471,044.64 680.62Closing Stock - Finished Goods 1,279.17 872.08- Work in Process 179.03 165.58- Scrap 13.14 6.561,471.34 1,044.22NET (INCREASE)/DECREASE IN STOCK (426.70) (363.60)Excise duty on account of increase/(decrease) on stock offinished goods 47.46 30.15Total (Increase)/Decrease in Stock (379.24) (333.45)* Net of ` 0.42 crore of Inventory of finished goods during trial run period of Bar Mill which has been adjusted in expenditureduring trial run period in the prevoius year.For the year ended31st March, 2012(` in Crore)For the year ended31st March, 201126 EMPLOYEE BENEFITS EXPENSEa) Salaries and Wages 344.24 262.61b) Contribution to Provident and other funds 27.15 11.03c) Employees compensation expenses under Employee Stock Option(0.83) (4.87)Scheme {Note no. 4 (e)}d) Staff welfare expenses 14.88 9.01Total Employee Benefits Expense 385.44 277.78