File_2012_Document1

188 Jindal Steel & Power LimitedBusiness Leadership Sustainable Operations Excellent Governance Robust FinancialsAnnual Report 2011-12189ConsolidatedNOTES to the consolidated financial statements as at and for the year ended 31st March, 2012 NOTES to the consolidated financial statements as at and for the year ended 31st March, 2012(` in Crore)Gross Carrying Value Depreciation Net Carrying ValueBalance as at31st March,2011Balance as at31st March,2012Balance as at31st March,2012OtherAdjustmentsDepreciationfor theperiodBalance as at1st April,2011Balance as at31st March,2012OtherAdjustmentsAdditions Disposals/AdjustmentsParticulars Balance as at1st April,201112 FIXED ASSETSLand Freehold 181.72 38.27 0.13 - 219.86 - - - - 219.86 181.72Land Leasehold 348.22 71.16 - - 419.38 11.63 5.06 - 16.69 402.69 336.59Live Stock 0.14 0.00 - - 0.14 - - - - 0.14 0.14Buildings 2,214.96 482.05 2.70 11.34 2,705.65 285.21 108.55 0.73 393.03 2,312.62 1,929.75Plant and15,099.90 2,063.64 80.37 314.97 17,398.14 3,904.55 1,211.29 21.76 5,094.08 12,304.06 11,195.35EquipmentElectrical Fittings 747.46 107.40 5.76 - 849.10 39.85 41.44 0.87 80.43 768.67 707.6171.91 17.87 6.01 - 83.77 19.82 6.90 2.25 24.46 59.31 52.10Furniture andFixturesVehicles 213.60 27.99 9.11 - 232.48 83.59 24.92 3.21 105.30 127.18 130.01Air Craft285.18 - - - 285.18 44.17 15.97 - 60.14 225.04 241.01(Owned)Officeequipment47.38 13.18 1.03 - 59.53 10.96 5.93 0.42 16.47 43.06 36.41Total 19,210.47 2,821.56 105.11 326.31 22,253.23 4,399.78 1,420.06 29.24 5,790.60 16,462.63 14,810.69Previous Year 13,111.22 6,030.27 184.12 253.10 19,210.47 3,241.48 1,178.63 20.33 4,399.78 14,810.69 9,869.74(` in Crore)Gross Carrying Value Depreciation Net Carrying ValueBalanceas at 31stMarch, 2011Balance as at31st March,2012Balance as at31st March,2012OtherAdjustmentsDepreciationfor theperiodBalance as at1st April,2011Balance as at31st March,2012OtherAdjustmentsAdditions Disposals/AdjustmentsParticulars Balance as at1st April,201126.37 5.69 - - 32.06 6.54 4.03 - 10.57 21.49 19.83Intangible AssetsComputersoftware-Bought outServices and38.79 5.13 - - 43.92 25.80 9.05 - 34.85 9.07 12.99operatingrightsDesigns and- 0.84 - - 0.84 - 0.01 - 0.01 0.83 -drawingsTotal 65.16 11.66 - - 76.82 32.34 13.09 - 45.43 31.39 32.82Previous Year 51.29 13.87 - 65.16 23.61 8.73 32.34 32.82 27.68TOTAL BLOCK 19,275.63 2,833.23 105.11 326.31 22,330.05 4,432.12 1,433.15 29.24 5,836.03 16,494.02 14,843.51Previous Year 13,162.51 6,044.14 184.12 253.10 19,275.63 3,265.09 1,187.36 20.33 4,432.12 14,843.51 9,897.42Capital Work In Progress(Including Pre-Operative Expenses Pending Allocation/Capitalisation And Capital Goods Lying In Stores) 13,472.05 9,360.53Notes:a) Statement Showing the details of Pre-operative Expenditure as on 31st March, 2012DescriptionTotal(` in Crore)2011-12 2010-11Amount brought forward from last year 1,095.96 1,107.90Add: Expenses during the YearPersonnel Expenses 127.28 93.52Consultancy Charges 87.79 155.58Financial Expenses 120.95 215.48Foreign Exchange Fluctuations 34.01 7.62Depreciation 24.52 8.09Expenses related to mining & Exploration - 18.47Miscellaneous Expenses 170.86 215.271,661.37 1,821.93Less: Capitalised as part ofPlant & machinery 154.53 576.03Building 10.37 51.73Other fixed assets 3.71 98.21Amount carried forward in CWIP 1,492.76 1,095.96Depreciation during the year includes ` 24.52 crore (Previous year ` 8.09 crore) transferred to pre-operative expenses.b) Freehold land includes ` 5.85 crore jointly owned with the Company with 50% share and pending registration.c) Capital Work in Progress includes ` 1,492.76 crore (Previous year ` 1,095.96 crore) being Pre-operative Expenditure and` 1079.40 crore (Previous year ` 1083.39 crore) Capital stores.d) Addition to Fixed Assets includes ` 4.84 crore (Previous year ` 3.29 crore) and addition to Capital Work in Progress includes` 0.48 crore (Previous year ` 3.16 crore) being expenditure incurred on Research & Development Activities. The Capital Work inProgress accumulated balance as on 31st March, 2012 the is ` 0.84 crore (Previous year ` 3.16 crore).e) Additions / (Adjustments) to Plant and Machinery/Capital work-in-progress includes addition of ` 332.22 crore (Previous yearaddition of ` 165.92 crore) on account of foreign exchange fluctuation on long-term liabilities relating to acquisition of FixedAssets pursuant to the notifications issued by the Ministry of Corporate Affairs relating to Accounting Standard (AS-11) ‘TheEffects of Changes in Foreign Exchange Rates’.f) Borrowing cost incurred during the year and capitalised is ` 50.48 crore (Previous year ` 71.02 crore). Borrowing cost incurredduring the year and transferred to Capital Work in Progress is ` 372.33 crore (Previous year ` 202.69 crore).g) In a subsidiary, depreciation on Coal Handling Plant amounting to ` 22.17 crore (Previous year ` 28.28 crore) has been consideredseparately in the Statement of profit & loss.