Dina Iron & Steel Ltd.-இன் இயக்குநர் அறிக்கை

Mar 31, 2013

The Members of

DINA IRON & STEEL LIMITED, PATNA

Dear Sirs,

The Directors have pieasure in presenting their 21st annual report with the audited statement of accounts for the year ended 31st March, 2013. The working results of the company are setout hereunder: -

1. FINANCIAL RESULTS:

Description For the year ended For the year ended 31-03-2013 31-03-2012

Profit before interest and Depreciation 35,916,109.18 40,052,582.44

Less *

Interest 20,091,775.33 20,147,131.61

Depreciation 7,412,076.00 8.074,523.24

Profit before tax 8,412,257,85 11,830,927.59

Income Tax for earlier year (187,572.00) 70,115,00

Provision for tax

Current Tax 2,999,500.00 4,457,100.00

Deferred Tax (722,604100) (431,205.00)

Profit for the year 6,322 933.85 7,734,917.59

2 PERFORMANCE ;

The company has earned Net Profit of Rs. 63,22,933.85 after tax during the year. The board expects better results in the coming year.

3 LISTING OF EQUITY SHARES

The company has moved the Delhi, Calcutta and Magadh Stock Exchange for delisting of its equ.ty shares. At present the company''s shares listed on BSE only, in accordance with the relevant hstmg agreementS"

4. DIRECTORS:

Sanjay Kumar Bhartiya, Director, retire by rotation at the ensuing Annual General Meeting and bemg eligible, offer himself for reappointment.

5. DIRECTOR''S RESPONSIBILITY:

Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000 the Board confirms that:

a) In the preparation of the annual accounts, the applicable accounting standards have been followed ;

b) Appropriate accounting policies have been selected and applied consistently and the Board has made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31, 2013 and of the Profit of the Company for the year ended on that date.

c) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and

d) The annua! accounts have been prepared on a going concern basis.

6. PARTICULARS OF EMPLOYEES

There is no employee in respect of whom particulars pursuant to section 217 (2A) of Companies Act, 1956 are required to be given.

7. LABOUR RELATION:

Your Directors have pleasure to inform you that the management has good relation with the laboures working at the company.

8. STATUTORY ANNUAL AUDIT REPORT :

The Auditors notes on the accounts have been extensively dealt with and since they are self explanatory, they are not commented upon

9. AUDITORS:

To appoint M/s SUBODH GOEL & CO., Chartered Accountants and fix their remuneration, the retiring Auditors as Statutory Auditors of the Company.

10. RAW MATERIAL:

Principal Raw Material of the Company is Sponge Iron which is easily available to the Company from all around Bihar and neighboring states on a short call.

Conservation of energy is presented as under:-

Consumption per ton of Production

The company''s products comprise a wide range of semi finished and finished long steel product, The product mix varies each year and the production process involves several operations ,n dtfferent divisions. It is therefore not feasible to apportion the cost and consumption per unit of products

B. TECHNOLOGY ABSORPTION :

As the Directors of the Company are themselves capable in the line of activity the company undertakes hence there is as such no need for the technology absorption.

12. INFORMATION PURSUANT TO SECTION 217 OF THE COMPANIES ACT, 1956

There is no employee in receipt of remuneration which requires disclosure under section 217 (2A) of the Companies Act, 1956 & rules framed there under.

13. COMPLIANCE CERTIFICATE

As required under section 383(A) (I) of the Companies Act, 1956 the compliance certificate as per the provisions of companies Act, 1956, in prescribed form received from a Company Secretary in whole time practice is appended hereto and forms part of this report.

14. CORPORATE GOVERNANCE

Separate note on "Corporate Governance" and "Management Discussion and Analysis" is annexed herewith. The Auditor''s Certificate on compliance with the condition of Corporate Governance is also annexed herewith.

15. ACKNOWLEDGEMENT :

Your directors take this opportunity to offer their sincere thanks to the various departments of the Central & State Govt., Banks, customers & Suppliers for their continued valuable assistance & support. Your directors also wish to place on record their appreciation for the dedicated efforts by officers, staff and workers of the company at all levels.

For and On behalf of the Board of Dina Iron & Steel Limited

Place: - Patna SANJAY KUMAR BHART1YA Date: - 10-08-2013. [CHAIRMAN]

---

Mar 31, 2010

The Directors have pleasure in presenting their 18TH annual report with the audited statement of accounts for the year ended 31st March, 2010. The working results of the company are setout hereunder : -

1. FINANCIAL RESULTS :

Description For the year ended For the year ended 31-03-2010 31-03-2009

Profit before interest and

Depreciation 38,620,090.87 35,544,447.08

Less :

Interest 18,962,395.00 17,659,721.74

Depreciation 8,999,772.00 9,750,407.00

Profit before tax 10,657,923.87 8,134,318.34

Income Tax for earlier year 279,291.00 -

Provision for tax

Current Tax 4,184,000.00 3,014,162.00

Deferred Tax (561,371.00) (48,968.00)

Fringe Benefit Tax - 33,284.00

Profit for the year 6,756,003.87 5,135,840.34

2. PERFORMANCE :

The company has earned Net Profit of Rs 6,756,003.87 . after tax during the year. The board expects better results in the coming year.

3. LISTTING OF EQUITY SHARES

The company has moved the Delhi, Calcutta and Magadh Stock Exchange for delisting of its equity shares. After the said delisting the equity share of the company will be listed only on Mumbai Stock Exchange.

4. DIRECTORS :

Sanjay Kumar Bhartiya, Director, retire by rotation at the ensuing Annual General Meeting and being eligible, offer himself for reappointment.

DIRECTORS RESPONSIBILITY:

Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000 the Board confirms that:

In the preparation of the annual accounts, the applicable accounting standards have been followed ;

Appropriate accounting policies have been selected and applied consistently and the Board has made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31, 2010 and of the Profit of the Company for the year ended on that date.

Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and

The annual accounts have been prepared on a going concern basis.

5. PARTICULARS OF EMPLOYEES

There is no employee in respect of whom particulars pursuant to section 217 (2A) of Companies Act, 1956 are required to be given.

6. LABOUR RELATION :

Your Directors have pleasure to inform you that the management has good relation with the laboures working at the company.

7. STATUTORY ANNUAL AUDIT REPORT

The Auditors notes on the accounts have been extensively dealt with and since they are self explanatory, they are not commented upon

8. AUDITORS :

To appoint M/s SUBODH GOEL & CO., Chartered Accountants and fix their remuneration, the retiring Auditors as Statutory Auditors of the Company.

9. RAW MATERIAL :

Principal Raw Material of the Company is Sponge Iron which is easily available to the Company from all around Bihar and neighboring states on a short call.

10. PARTICULARS OF CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO.

As required by Section 217 (1)(e) of the Companies Act, 1956 read with companies (disclosure of particulars in the report of Board of the Directors) Rules, 1988 we report that during the year there has been no foreign exchange earnings and as well as no outgo. A statement regarding particulars of conservation of energy is presented as under:-

2). Consumption per Ton of Production

The companys products comprise a wide range of semi finished and finished long steel products. The product mix varies each year and the production process involves several operations in different divisions. It is therefore not feasible to apportion the cost and consumption per unit of production.

B. TECHNOLOGY ABSORPTION :

As the Directors of the Company are themselves capable in the line of activity the company undertakes hence there is as such no need for the technology absorption.

11. INFORMATION PURSUANT TO SECTION 217 OF THE COMPANIES ACT, 1956

There is no employee in receipt of remuneration which requires disclosure under section 217 (2A) of the Companies Act, 1956 & rules framed there under.

12. COMPLIANCE CERTIFICATE

As required under section 383(A)(I) of the Companies Act, 1956 the compliance certificate as per the provisions of companies Act, 1956, in prescribed form received from a Company Secretary in whole time practice is appended hereto and forms part of this report.

13. ACKNOWLEDGEMENT :

Your directors take this opportunity to offer their sincere thanks to the various departments of the Central & State Govt., Banks, Customers & Suppliers for their continued valuable assistance & support. Your directors also wish to place on record their appreciation for the dedicated efforts by officers, staff and workers of the company at all levels.

For and On behalf of the Board of

Dina Iron & Steel Limited

Sd/- Place:- Patna SANJAY KUMAR BHARTIYA Date :- 04-06-2010. [CHAIRMAN]