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As per our attached report of even date
For and on behalf of the Board of Directors
For Dalal & Shah
Firm Registration No. 102020W
Sunil S Lalbhai
Chartered Accountants
Chairman & Managing Director
G S Patel
S S Baijal
B S Mehta
H S Shah
S Venkatesh
S M Datta
Partner
R A Shah
Samveg A Lalbhai
Membership No. F-037942
T R Gopi Kannan
V S Rangan
Managing Director
Mumbai
President, Finance &
B N Mohanan
Mumbai
May 13, 2011
Company Secretary
Directors
May 13, 2011
Profit and Loss Account
for the year ended March 31, 2011
(
`
crores)
Particulars
Schedule
2010-11
2009-10
INCOME
Gross sales
1,594.25
1,225.96
Less: Excise duty
86.56
57.84
Net sales
1,507.69 1,168.12
Operating income
9
40.02
30.21
Sales and operating income
1,547.71 1,198.33
Other income
10
5.79
5.35
1,553.50 1,203.68
EXPENDITURE
Cost of goods sold and materials consumed
11
878.43
656.77
Manufacturing expenditure
12
225.96
181.85
Employees' emoluments
13
105.56
103.22
Interest and finance charges
14
25.46
25.69
Others
15
141.28
110.03
Exchange rate difference
9.09
9.07
Depreciation
39.54
38.46
Amortisation of leasehold land
0.28
0.28
Amortisation of computer software
0.78
0.62
40.60
39.36
Less: Amount withdrawn from revaluation reserve
2.06
2.06
38.54
37.30
1,424.32 1,123.93
Profit before tax and exceptional items
129.18
79.75
Exceptional items
Gain on settlement of long-term export advance
8.20
–
Recovery of advance written off in earlier years
1.90
–
10.10
–
Profit before tax
139.28
79.75
Provision for tax
Current tax
42.58
22.00
Deferred tax
0.48
4.86
Wealth tax
0.11
0.10
43.17
26.96
Profit for the year
96.11
52.79
Add|(Less): Tax adjustments for the earlier years
Income tax and wealth tax
(6.11)
0.13
Additional MAT entitlement for the earlier years
–
3.89
Net profit for the year
90.00
56.81
As per last account
264.71
227.42
Net profit available for appropriation
354.71
284.23
Appropriations
General reserve
5.68
5.68
Proposed dividend
13.35
11.87
Corporate dividend tax on above
2.16
1.97
15.51
13.84
Balance carried to Balance Sheet
333.52
264.71
Basic|diluted earning per share (see Note 12)
`
30.34
`
19.15
Notes forming part of the Accounts
16
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