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Notes to Accounts of Dalmia Bharat Ltd.

Mar 31, 2016

1. Terms/ rights attached to Equity shares

The Company has only one class of equity shares having a face value of Rs.2 per share. Each equity shareholder is entitled to one vote per share. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event of winding-up of the company, the equity shareholders shall be entitled to be repaid remaining assets of the company in the ratio of the amount of capital paid up on such equity shares.

During the year ended 31 March 2016, the amount of dividend per share recognised as distribution to equity shareholders is Rs.2.00 (Rs.1.50).

Rs.75.00 Cr (Nil) are secured by a first Pari Passu charge on all movable fixed assets, equitable mortgage on all immovable fixed assets of the Company and exclusive charge by way of hypothecation on receivables under management contracts with group companies at base rate (Presently 10.65%) . It is repayable in 61 unequal monthly instalments in the range of Rs01.00 Cr to Rs.1.33 Cr each commencing from September 2016.

2. In the opinion of the Board and to the best of their knowledge and belief, the value on realisation of loans, advances and current assets in the ordinary course of business will not be less than the amount at which these are stated in the Balance Sheet.

3. Gratuity and Other Post Employment benefit Plans Gratuity

The Company has a defined benefit gratuity plan. Every employee who has completed fve years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service. The Scheme is funded with an insurance company in the form of a qualifying insurance policy.

The Company contributes provident fund liability to Dalmia Cement Provident Fund Trust. As per the Guidance Note on implementing AS 15, Employee benefit (Revised 2005) issued by the Accounting Standards Board (ASB), provident funds set up by the employers, which require interest shortfall to be met by the employer, need to be treated as defined benefit plan.

Actuarial valuation for Provident Fund was carried out in accordance with the Guidance Note issued by the Actuarial Society of India, and accordingly, the Company has provided shortfall in provident fund liability in the books.

The following tables summaries the components of net benefit expense recognized in the statement of profit and loss and the funded status and amounts recognized in the balance sheet for the plan.

4. Related Party Disclosure as required by Accounting Standard-18.

List of related parties along with nature and volume of transactions is given below: Related Parties where control exists:- Subsidiaries of the Company Dalmia Cement (Bharat) Limited, Dalmia Power Limited, Kanika Investment Limited, Adwetha Cement Holdings Limited (w.e.f. 05-01- 2016).

Subsidiaries of Dalmia Cement (Bharat) Limited

Adhunik Cement Limited, Arjuna Brokers & Minerals Limited, Calcom Cement India Limited, D.I. Properties Limited, Dalmia Cement Bharat Holdings Limited, Dalmia Minerals & Properties Limited, Geetee Estates Limited, Golden Hills Resort Private Limited, Hemshila Properties Limited, Ishita Properties Limited, Jayevijay Agro farms Pvt Ltd, OCL India Limited, Rajputana Properties Private Limited, Shri Radha Krishna Brokers & Holdings Limited, Shri Rangam Properties Limited, Sri Dhandauthapani Mines & Minerals Limited, Sri Madhusudana Mines & Properties Limited, Sri Shanmugha Mines & Minerals Limited, Sri Subramanya Mines & Minerals Limited, Sri Swaminatha Mines & Minerals Limited, Sri Trivikrama Mines & Properties Limited and Bangaru Kamakshi Amman Agro Farms Private Limited (w.e.f. 29-04-15).

Subsidiaries of Dalmia Minerals & Properties Limited Cosmos Cements Limited, Sutnga Mines Private Limited

Subsidiary of Adhunik Cement Limited Adhunik MSP Cement (Assam) Limited

Subsidiaries of Calcom Cement India Limited Vinay Cements Limited

Subsidiary of Vinay Cements Limited

RCL Cements Limited and SCL Cements Limited

Subsidiary of Dalmia Power Limited DCB Power Ventures Limited

Subsidiary of Dalmia Cement Bharat Holdings Limited Shri Rangam Securities & Holdings Limited

Subsidiary of Shri Rangam Securities & Holdings Limited

Dalmia Cement East Limited (formerly known as Bokaro Jaypee Cement Ltd.)

Subsidiaries and step down subsidiaries of OCL India Limited Odisha Cement Limited, OCL China Ltd., OCL Global Ltd.

Joint Ventures of the Subsidiary Company Dalmia Cement (Bharat) Limited Khappa Coal Company Private Limited

Joint Ventures of the Subsidiary Company OCL India Limited Radhikapur (West) Coal Mining Private Limited

Related parties with whom transaction were taken place during the year.

Key Management Personnel of the Company

Shri Jai Hari Dalmia – Managing Director, Shri Yadu Hari Dalmia-Managing Director, Shri Gautam Dalmia- Director, Shri Puneet Yadu

Dalmia – Director, Shri Jayesh Doshi- Whole time Director

Enterprises controlled by the Key Management Personnel of the Company

Dalmia Refractories Limited, Dalmia Bharat Sugar and Industries Limited, Himshikhar Investment Limited.

*does not includes provision made for leave encashment and gratuity as the same are determined for the company as a whole)

1. Sale of goods and services includes transaction with Dalmia Cement (Bharat) Limited Rs.98.76 Cr (Previous Year Rs.89.20 Cr), OCL India Limited Rs.59.24 Cr (Previous Year Rs.27.24 Cr), Calcom Cement India Limited Rs.17.46 Cr (Previous Year Rs.17.79 Cr), Adhunik Cement Limited Rs.9.22 Cr (Previous Year Rs.15.31 Cr), Dalmia Cement East Limited Rs.5.02 Cr (Previous Year Rs.0.08 Cr), DCB Power Ventures Limited Rs.1.86 Cr (Previous Year Rs.3.08 Cr), Dalmia Bharat Cements Holdings Limited Nil (Previous Year Rs.4.37 Cr), D.I. Properties Limited Nil (Previous Year Rs.0.01 Cr), Geetee Estates Limited Nil (Previous Year Rs.0.01 Cr), Shri Rangam properties Limited Nil (Previous Year Rs.0.01 Cr), Sri Dhandauthapani Mines & Minerals Limited Nil (Previous Year Rs.0.01 Cr) , Dalmia Bharat Sugar and Industries Limited Rs.10.54 Cr (Previous Year Rs.10.75 Cr), Dalmia Refractories Limited Rs.1.48 Cr (Previous Year Rs.15.62 Cr).

2. Reimbursement of expenses – receivable includes transaction with Dalmia Cement (Bharat) Limited Rs.0.38 Cr (Previous Year Rs.0.58 Cr), Dalmia Cement East Limited Rs. Nil (Previous Year Rs.0.11 Cr), Dalmia Bharat Sugar and Industries Limited Rs.0.17 Cr (Previous Year Rs.0.31 Cr).

3. Reimbursement of expenses – payable includes transaction with Dalmia Cement (Bharat) Limited Rs.2.67 Cr (Previous Year Rs.1.07 Cr), Calcom Cement India Limited Rs.0.02 Cr (Previous Year Rs.0.04 Cr), Adhunik Cement Limited Rs. Nil (Previous Year Rs.0.20 Cr), Dalmia Cement East Limited Rs.0.17 Cr (Previous Year Nil) Dalmia Bharat Sugar and Industries Limited Rs.0.14 Cr (Previous Year Rs.0.22 Cr).

4. Purchase of goods and services includes transaction with Dalmia Bharat Sugar and Industries Limited Rs.2.33 Cr (Previous Year Rs.3.47 Cr).

5. Related Party Disclosure as required by Accounting Standard-18. (contd.)

6. Interest received includes transaction with Adwetha Cement Holdings Limited Rs.2.60 Cr (Previous Year Nil), Calcom Cement India Limited Rs.1.02 Cr (Previous Year Rs.0.82 Cr), Adhunik Cement Limited Rs.0.54 Cr (Previous Year Rs.0.39 Cr), Dalmia Bharat Sugar and Industries Limited Rs.3.14 Cr (Previous Year Rs.3.75 Cr), Dalmia Refractoriness Limited Nil (Previous Year Rs.0.30 Cr).

7. Dividend received includes transaction with Dalmia Cement (Bharat) Limited Rs.23.43 Cr (Previous Year Nil), Dalmia Bharat Sugar and Industries Limited Rs.0.89 Cr (Previous Year Nil).

8. Dividend paid includes transaction with Dalmia Bharat Sugar and Industries Limited Rs.0.33 Cr (Previous Year Rs.0.19 Cr).

9. Loan and advances given includes transaction with Dalmia Power Limited Rs.0.06 Cr (Previous Year Nil), Adwetha Cement Holdings Limited Rs.467.51 Cr (Previous Year Nil).

10. Share purchased includes transaction with Dalmia Power Limited Rs.0.05 Cr (Previous Year Nil).

11. Director sitting fees includes transaction with Sh Gautam Dalmia Rs.0.03 Cr (Previous year Rs.0.02 Cr) and Sh. Puneet Yadu Dalmia Rs.0.03 Cr (Previous year Rs.0.02 Cr)

12. Salary & Perquisites includes transaction with Sh. Jai Hari Dalmia Rs.1.76 Cr (Previous Year Rs.1.12 Cr), Sh. Yadu Hari Dalmia Rs.2.24 Cr (Previous Year Rs.2.82 Cr), Shri Jayesh Doshi Rs.2.27 Cr (Previous year Nil)

13. Guarantee given includes guarantee given by Company on behalf of Dalmia Power Limited Rs.275.00 Cr. (Previous year Nil)

1. Loan receivable includes Dalmia Power Limited Rs.7.38 Cr (Previous Year Rs.7.32 Cr), Adwetha Cement Holdings Limited Rs.439.19 Cr (Previous Year Nil), Dalmia Bharat Sugar and Industries Limited Nil (Previous Year Rs.34.00 Cr).

2. Amount receivable includes Dalmia Cement (Bharat) Limited Rs.13.12 Cr (Previous Year Rs.2.34 Cr), Adwetha Cement Holdings Limited Rs.2.34 Cr (Previous Year Nil), Adhunik Cement Limited Rs.3.65 Cr (Previous Year Rs.4.41 Cr), Calcom Cements India Limited Rs.5.44 Cr (Previous Year Rs.4.59 Cr.), OCL India Limited Rs.8.81 Cr (Previous Year Rs.10.26 Cr), Dalmia Bharat Cement Holdings Limited Rs.4.48 Cr (Previous Year Rs.4.48 Cr), Dalmia Cement East Limited Rs.0.37 Cr (Previous Year Rs.0.19 Cr), Sri Dhandauthapani Mines & Minerals Limited Rs.0.01 Cr (Previous Year Rs.0.01 Cr), D.I. Properties Limited Nil (Previous Year Rs.0.01 Cr), Geetee Estates Limited Nil (Previous Year Rs.0.01 Cr), Shri Rangam properties Limited Nil (Previous Year Rs.0.01 Cr), Hemshila Properties Limited Nil (Previous Year Rs.0.01 Cr), DCB Power Ventures Limited Nil (Previous Year Rs.0.33 Cr), Dalmia Bharat Sugar and Industries Limited Rs.1.70 Cr (Previous Year Rs.0.49 Cr), Dalmia Refractoriness Limited Rs.0.45 Cr (Previous Year Rs.0.67 Cr).

3. Amount payable includes transaction with Dalmia Bharat Sugar and Industries Limited Nil (Previous Year Rs.0.02 Cr).

4. Guarantee given includes guarantee given by Company on behalf of Dalmia Power Limited Rs.275.00 Cr. (Previous year Nil)

14. Figures less than H fifty thousand which are required to be shown separately have been shown at actual in double brackets.

15. Previous Year Comparatives

Figures in brackets pertain to previous year. Previous year''s figures have been regrouped where necessary to confirm to this year''s classification.

16. The company has given loans / advances to various companies. Loans amount outstanding as at year end is given in below mentioned table along with purpose of the loan.


Mar 31, 2015

1. Contingent liabilities (not provided for) in respect of:

(Rs,Crore)

Particulars As at As at March 31, 2015 March 31, 2014

Claims against the Company not acknowledged as debts - -

2. Capital and other commitment

(Rs,Crore)

Particulars As at As at March 31, 2015 March 31, 2014

Estimated amount of contracts remaining to be executed on capital account and not - - provided for (net of advances)

Estimated amount of contracts remaining to be executed on other than capital account - - and not provided for (net of advances)

3. Gratuity and Other Post Employment Benefit Plans

Gratuity

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service. The Scheme is funded with an insurance company in the form of a qualifying insurance policy.

The Company contributes provident fund liability to Dalmia Cement Provident Fund Trust. As per the Guidance Note on implementing AS 15, Employee Benefit (Revised 2005) issued by the Accounting Standards Board (ASB), provident funds set up by the employers, which require interest shortfall to be met by the employer, need to be treated as defined benefit plan.

Actuarial valuation for Provident Fund was carried out in accordance with the Guidance Note issued by the Actuarial Society of India, and accordingly, the Company has provided shortfall in provident fund liability in the books.

The following tables summaries the components of net benefit expense recognized in the statement of profit and loss and the funded status and amounts recognized in the balance sheet for the plan.

4. Related Party Disclosure as required by Accounting Standard-18.

List of related parties along with nature and volume of transactions is given below: Related Parties where control exists:- Subsidiaries of the Company Dalmia Cement (Bharat) Limited, Dalmia Power Limited, Kanika Investment Limited,

Subsidiaries of Dalmia Cement (Bharat) Limited

Adhunik Cement Limited, Arjuna Brokers & Minerals Limited, Calcom Cement India Limited, D.I. Properties Limited, Dalmia Cement Bharat Holdings Limited, Dalmia Minerals & Properties Limited, Geetee Estates Limited, Golden Hills Resort Private Limited, Hemshila Properties Limited, Ishita Properties Limited, Jayevijay Agro farms Pvt Ltd. (w.e.f. 05-6-14), OCL India Limited (w.e.f. 25-2-2015), Rajputana Properties Private Limited, Shri Radha Krishna Brokers & Holdings Limited, Shri Rangam Properties Limited, Shri Rangam Securities & Holdings Limited (up to 23-6-2014), Sri Dhandauthapani Mines & Minerals Limited, Sri Madhusudana Mines & Properties Limited, Sri Shanmugha Mines & Minerals Limited, Sri Subramanya Mines & Minerals Limited, Sri Swaminatha Mines & Minerals Limited, Sri Trivikrama Mines & Properties Limited

Subsidiaries of Dalmia Minerals & Properties Limited Cosmos Cements Limited and Sutnga Mines Private Limited

Subsidiary of Adhunik Cement Limited Adhunik MSP Cement (Assam) Limited

Subsidiaries of Calcom Cement India Limited Vinay Cements Limited

Subsidiary of Vinay Cements Limited

RCL Cements Limited and SCL Cements Limited

Subsidiary of Dalmia Power Limited DCB Power Ventures Limited

Subsidiary of Dalmia Cement Bharat Holdings Limited Shri Rangam Securities & Holdings Limited (w.e.f. 24-6-2014)

5. Related Party Disclosure as required by Accounting Standard-18. (contd.)

Subsidiary of Dalmia Cement Bharat Holdings Limited

Dalmia Cement East Limited (formerly known as Bokaro Jaypee Cement Ltd) (w.e.f. 16-11-2014)

Subsidiaries and step down subsidiaries of OCL India Limited Odisha Cement Limited, OCL China Ltd., OCL Global Ltd.

Associate of the Subsidiary Company Dalmia Cement (Bharat) Limited. OCL India Limited (up to 24-2-2015)

Joint Ventures of the Subsidiary Company Dalmia Cement (Bharat) Limited Khappa Coal Company Private Limited

Related parties with whom transaction were taken place during the year.

Key Management Personnel of the Company

Shri Jai Hari Dalmia – Managing Director, Shri Yadu Hari Dalmia-Managing Director, Shri Gautam Dalmia- Director, Shri Puneet Yadu

Dalmia – Director.

6. Related Party Disclosure as required by Accounting Standard-18. (contd.)

1. Sale of goods and services includes transaction with Dalmia Cement (Bharat) Limited H89.20 Cr (Previous Year H94.44 Cr), OCL India Limited H27.24 Cr (Previous Year H26.72 Cr).

2. Reimbursement of expenses – receivable includes transaction with Dalmia Cement (Bharat) Limited H0.58 Cr (Previous Year H0.70 Cr), Dalmia Refractories Limited Nil ( Previous Year H4.91 Cr), Dalmia Bharat Sugar and Industries Limited H0.31 Cr (Previous Year H0.02 Cr), Dalmia Cement East Limited H0.11 Cr (Previous Year Nil).

3. Reimbursement of expenses – payable includes transaction with Dalmia Refractories Limited Nil (Previous Year H27.72 Cr), Dalmia Cement (Bharat) Limited H1.07 Cr (Previous Year H1.19 Cr), Dalmia Bharat Sugar and Industries Limited H0.22 Cr (Previous Year H0.11 Cr), Adhunik Cement Limited H0.20 Cr (Previous Year H0.02 Cr).

4. Purchase of goods and services includes transaction with Dalmia Cement (Bharat) Limited Nil (Previous Year H3.18 Cr), Dalmia Refractories Limited Nil (Previous Year H20.60 Cr), Dalmia Bharat Sugar and Industries Limited H3.47 Cr (Previous Year H3.75 Cr).

5. Interest received includes transaction with Dalmia Bharat Sugar and Industries Limited H3.75 Cr (Previous Year H7.82 Cr), Calcom Cement India Limited H0.82 Cr (Previous Year Nil).

6. Dividend received includes transaction with Dalmia Cement (Bharat) Limited Nil (Previous Year H11.83 Cr).

7. Dividend paid includes transaction with Dalmia Bharat Sugar and Industries Limited H0.19 Cr (Previous Year H0.19 Cr)

8. Loan and advances given includes transaction with Dalmia Bharat Sugar and Industries Limited Nil (Previous Year H75.50 Cr).

9. Purchase of Fixed Assets includes transaction with Dalmia Bharat Sugar and Industries Limited Nil (Previous Year H0.03 Cr).

10. Rent received includes transaction with Dalmia Refractories Limited Nil (Previous Year H0.01 Cr).

11. Rent paid includes transaction with Dalmia Cement (Bharat) Limited Nil (Previous Year H0.01 Cr).

12. Security deposit given includes transaction with Dalmia Cement (Bharat) Limited Nil (Previous Year H0.02 Cr).

13. Director sitting fees includes transaction with Sh Gautam Dalmia H0.02 Cr (Previous year H0.01 Cr) and Sh. Puneet Dalmia H0.02 Cr (Previous year H0.01 Cr)

14. Salary & Perquisites includes transaction with Sh. Jai Hari Dalmia H1.12 Cr (Previous Year H1.60 Cr), Sh. Yadu Hari Dalmia H2.82 Cr (Previous Year H0.48 Cr).

7. Figures less than fifty thousand which are required to be shown separately have been shown at actual in double brackets.

8. Due to adoption of depreciation rates on the basis of useful life as prescribed under Schedule II of the Companies Act''2013, depreciation charged for the year is higher by H1.22 Cr. as compared to the depreciation rates charged during previous year. Further, written down value of fixed assets whose lives have expired as at 1st April, 2014 amounting to H0.22 Cr have been adjusted (net of tax of H0.11 Cr.), from the surplus in statement of profit and loss in accordance with provisions of schedule II to the Companies Act, 2013.

9. Previous Year Comparatives

Figures in brackets pertain to previous year. Previous year''s figures have been regrouped where necessary to confirm to this year''s classification


Mar 31, 2014

1. Contingent liabilities (not provided for) in respect of:

(Rs. Crore)

S. No. Particulars 2013-14 2012-13

a) Claims against the Company not acknowledged as debts - -

2. In the opinion of the Board and to the best of their knowledge and belief, the value on realisation of loans, advances and current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

3. Particulars of forward contracts outstanding as at the Balance Sheet date:

Forward contract outstanding as at Balance Sheet date: NIL

4. Gratuity and Other Post Employment benefit Plans

Gratuity

The Company has a Defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service. The Scheme is funded with an insurance company in the form of a qualifying insurance policy .

The Company contributes provident fund liability to Dalmia Cement Provident Fund Trust. As per the Guidance Note on implementing AS 15, Employee benefit (Revised 2005) issued by the Accounting Standards Board (ASB), provident funds set up by the employers, which require interest shortfall to be met by the employer, need to be treated as Defined benefit plan.

Actuarial valuation for Provident Fund was carried out in accordance with the Guidance Note issued by the Actuarial Society of India, and accordingly, the Company has provided shortfall in provident fund liability in the books.

The following tables summaries the components of net benefit expense recognized in the statement of profit and loss and the funded status and amounts recognized in the balance sheet for the plan.

5. The Company''s operating businesses are organized and managed separately according to the nature of products manufactured and services provided. The two identified reportable segments are Refractory, Management services. As the export turnover is insignificant in comparison to total turnover, there are no reportable geographical segments.

6. Related Party Disclosure as required by Accounting Standard-18.

a. List of related parties along with nature and volume of transactions is given below:

Subsidiaries of the Company

Dalmia Cement (Bharat) Limited, Dalmia Power Limited, Kanika Investment Limited.

Subsidiaries of Dalmia Cement (Bharat) Limited

Arjuna Brokers & Minerals Limited, D.I. Properties Limited, Dalmia Minerals & Properties Limited, Geetee Estates Limited, Hemshila Properties Limited, Ishita Properties Limited, Shri Radha Krishna Brokers & Holdings Limited, Shri Rangam Properties Limited, Sri Dhandauthapani Mines & Minerals Limited, Sri Madhusudana Mines & Properties Limited, Sri Shanmugha Mines & Minerals Limited, Sri Subramanya Mines & Minerals Limited, Sri Swaminatha Mines & Minerals Limited, Sri Trivikrama Mines & Properties Limited, Adhunik Cement Limited, Calcom Cement (India) Limited, Golden Hills Resort Private Limited and Rajputana Properties Private Limited.

Step down Subsidiaries of Dalmia Minerals & Properties Limited

Cosmos Cements Limited and Sutnga Mines Private Limited

Step down subsidiary of Adhunik Cement Limited

Adhunik MSP Cement (Assam) Limited

Step down Subsidiaries of Calcom Cement India Limited

Vinay Cements Limited, RCL Cements Limited and SCL Cements Limited

Subsidiary of Dalmia Power Limited

DCB Power Ventures Limited

Associate of the Subsidiary Company Dalmia Cement (Bharat) Limited.

OCL India Limited

Joint Ventures of the Subsidiary Company Dalmia Cement (Bharat) Limited

Khappa Coal Company Private Limited

Key Management Personnel of the Company

Shri Jai Hari Dalmia – Managing Director, Shri Yadu Hari Dalmia-Managing Director, Shri Gautam Dalmia- Director, Shri Puneet Yadu Dalmia – Director.

Relatives of Key Management Personnel

Shri V. H. Dalmia (Brother of Director), Shri J.H.Dalmia (HUF), Smt. Kavita Dalmia (Wife of Director) Shri Y. H. Dalmia (HUF), Smt. Bela Dalmia (Wife of Managing Director), Shri Gautam Dalmia (HUF), Smt. Anupama Dalmia (Wife of Director), Smt. Avantika Dalmia (Wife of Director), Kumari Shrutipriya Dalmia (Daughter of Managing Director), Kumari Sukeshi Dalmia (Daughter of Director), Kumari Vaidehi Dalmia (Daughter of Director), Kumari Sumana Dalmia (Daughter of Director), Kumari Avanee Dalmia (Daughter of Director), Mst. Priyang Dalmia (Son of Managing Director) Shri M.H.Dalmia, (Brother of Director) Smt. Abha Dalmia (Wife of Brother of Director), Shri R. H. Dalmia (Brother of Director).

Enterprises controlled by the Key Management Personnel of the Company

Rama Investment Company Private Limited, Puneet Trading & Investment Company Private Limited, Kavita Trading & Investment Company Private Limited, Sita Investment Company Limited, Mayuka Investment Limited, Ankita Pratisthan Limited, Himgiri Commercial Limited, Valley Agro Industries Limited, Shri Nataraj Ceramic and Chemical Industries Limited, Shri Chamundeswari Minerals Limited, Shree Nirman Limited, Keshav Power Limited, Avanee and Ashni Securities Private Limited, ZipAhead.Com Limited, Alirox Abrasives Limited, Sukeshi Trust, Vaidehi Trust, Sumana Trust, Shrutipriya Dalmia Trust, Priyang Trust, Avanee Trust, Raghu Hari Dalmia Parivar Trust, Dalmia Sugar Ventures Limited, Himshikhar Investment Limited, Dalmia Solar Power Limited, Dalmia Bharat Sugar and Industries Limited and New Habitat Housing Finance and Development Limited.

7. Details of loans and advances in nature of loans to subsidiaries, parties in which Directors are interested and Investments by the Loan in the shares of the company (as required by clause 32 of listing agreement)

8. Figures less than Rs. fifty thousand which are required to be shown separately have been shown at actual in double brackets.

9. Previous Year Comparatives

Figures in brackets pertain to previous year. Previous year''s figures have been regrouped where necessary to confirm to this year''s classification


Mar 31, 2013

1. In the opinion of the Board and to the best of their knowledge and belief, the value on realisation of loans, advances and current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

2. Gratuity and Other Post Employment Benefit Plans Gratuity

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service. The Scheme is funded with an insurance company in the form of a qualifying insurance policy.

The Company contributes provident fund liability to Dalmia Cement Provident Fund Trust. As per the Guidance Note on implementing AS 15, Employee Benefit (Revised 2005) issued by the Accounting Standards Board (ASB), provident funds set up by the employers, which require interest shortfall to be met by the employer, need to be treated as defined benefit plan.

Actuarial valuation for Provident Fund was carried out in accordance with the Guidance Note issued by the Actuarial Society of India, and accordingly, the Company has provided shortfall in provident fund liability in the books.

The following tables summarise the components of net benefit expense recognised in the statement of profit and loss and the funded status and amounts recognised in the balance sheet for the plan.

3. The Company''s operating businesses are organized and managed separately according to the nature of products manufactured and services provided. The two identified reportable segments are Refractory, Management services. As the export turnover is insignificant in comparison to total turnover, there are no reportable geographical segments.

4. Related Party Disclosure as required by Accounting Standard-18.

a. List of related parties along with nature and volume of transactions is given below:

Subsidiaries of the Company

Dalmia Cement (Bharat) Limited, Dalmia Power Limited and Kanika Investment Limited,

Subsidiaries of Dalmia Cement (Bharat) Limited

Arjuna Brokers & Minerals Limited, Dalmia Cement Ventures Limited, D.l. Properties Limited, Dalmia Minerals & Properties Limited, Geetee Estates Limited, Hemshila Properties Limited, Ishita Properties Limited, Shri Radha Krishna Brokers & Holdings Limited, Shri Rangam Properties Limited, Sri Dhandauthapani Mines & Minerals Limited, Sri Madhusudana Mines & Properties Limited, Sri Shanmugha Mines & Minerals Limited, Sri Subramanya Mines & Minerals Limited, Sri Swaminatha Mines & Minerals Limited, Sri Trivikrama Mines & Properties Limited, Adhunik Cement Limited and Calcom Cement (India) Limited

Step down Subsidiaries of Dalmia Cement Ventures Limited

Golden Hills Resort Private Limited and Rajputana Properties Private Limited

Step down Subsidiaries of Dalmia Minerals & Properties Limited

Cosmos Cements Limited and Sutnga Mines Private Limited

Step down subsidiary of Adhunik Cement Limited Adhunik MSP Cement (Assam) Limited

Step down Subsidiaries of Calcom Cement India Limited

Vinay Cements Limited, RCL Cements Limited and SCL Cements Limited

Subsidiary of Dalmia Power Limited DCB Power Ventures Limited

Associate of the Subsidiary Company Dalmia Cement (Bharat) Limited.

OCL India Limited

Joint Ventures of the Subsidiary Company Dalmia Cement (Bharat) Limited

Khappa Coal Company Private Limited

Key Management Personnel of the Company

Shri Jai Hari Dalmia - Managing Director, Shri Yadu Hari Dalmia-Managing Director, Shri Gautam Dalmia- Director, Shri Puneet Yadu Dalmia - Director.

Relatives of Key Management Personnel

Shri V.H. Dalmia (Brother of Director), Shri J.H.Dalmia (HUF), Smt. Kavita Dalmia (Wife of Director), Shri Y.H. Dalmia (HUF), Smt. Bela Dalmia (Wife of Managing Director), Shri Gautam Dalmia (HUF), Smt. Anupama Dalmia (Wife of Director), Smt. Avantika Dalmia (Wife of Director), Kumari Shrutipriya Dalmia (Daughter of Managing Director), Kumari Sukeshi Dalmia (Daughter of Director ), Kumari Vaidehi Dalmia (Daughter of Director), Kumari Sumana Dalmia (Daughter of Director), Kumari Avanee Dalmia (Daughter of Director), Mst. Priyang Dalmia (Son of Managing Director) Shri M.H. Dalmia, (Brother of Director) Smt. Abha Dalmia (Wife of Brother of Director) , Shri R.H. Dalmia (Brother of Director).

Enterprises controlled by the Key Management Personnel of the Company

Rama Investment Company Private Limited, Puneet Trading & Investment Company Private Limited, Kavita Trading & Investment Company Private Limited, Sita Investment Company Limited, Mayuka Investment Limited, Ankita Pratisthan Limited, Himgiri Commercial Limited, Valley Agro Industries Limited, Shri Nataraj Ceramic and Chemical Industries Limited, Shri Chamundeswari Minerals Limited, Shree Nirman Limited, Keshav Power Limited, Avanee and Ashni Securities Private Limited, ZipAhead.Com Limited, Alirox Abrasives Limited, Sukeshi Trust, Vaidehi Trust, Sumana Trust, Shrutipriya Dalmia Trust, Priyang Trust, Avanee Trust, Raghu Hari Dalmia Parivar Trust, Dalmia Sugar Ventures Limited, Himshikhar Investment Limited, Dalmia Solar Power Limited, Dalmia Bharat Sugar and Industries Limited and New Habitat Housing Finance and Development Limited.

5. Details of loans and advances in nature of loans to subsidiaries, parties in which Directors are interested and Investments by the Loanee in the shares of the Company (as required by clause 32 of listing agreement)

6. Figures less than Rs. fifty thousand which are required to be shown separately have been shown at actual in double brackets.

7. Previous Year Comparatives

Figures in brackets pertain to previous year. Previous year''s figures have been regrouped where necessary to confirm to this year''s classification


Mar 31, 2012

1. Contingent liabilities (not provided for) in respect of:

(Rs. in Crore)

S. No. Particulars 2011-12 2010-11

a) Claims against the Company not acknowledged as debts 0.45 0.45

Based on favourable decisions in similar cases, legal opinion taken by the Company, discussions with the solicitors etc, the Company believes that there is a fair chance of favourable decisions in respect of the items listed above and hence no provision is considered necessary against the same.

2. In the opinion of the Board and to the best of their knowledge and belief, the value on realisation of loans, advances and current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

3. Gratuity and Other Post Employment Benefit Plans Gratuity

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service. The Scheme is funded with an insurance company in the form of a qualifying insurance policy.

The Company contributes provident fund liability to Dalmia Cement Provident Fund Trust. As per the Guidance Note on implementing AS 15, Employee Benefit (Revised 2005) issued by the Accounting Standards Board (ASB), provident funds set up by the employers, which require interest shortfall to be met by the employer, need to be treated as defined benefit plan.

During the current financial year, actuarial valuation for Provident Fund for the financial year 2011-12 was carried out in accordance with the Guidance Note issued by the Actuarial Society of India, and accordingly, the Company has provided shortfall in provident fund liability in the books. No actuarial valuation was carried out in the last year pending issuance of guidance note in this regard. Further, there was no shortfall in the provident fund liability ascertained by the Company in the last year. In view of this, comparative figures for last year have not been given.

The following tables summarise the components of net benefit expense recognised in the statement of Profit and Loss and the funded status and amounts recognised in the Balance Sheet for the plan.

4. The Company's operating business are organised and managed separately according to the nature of products manufactured and services provided. The two identified reportable segments are Refractory, Management services. As the export turnover is insignificant in comparison to total turnover, there are no reportable geographical segments.

5. Related Party Disclosure as required by AS-18.

a. List of related parties along with nature and volume of transactions is given below:

Subsidiaries of the Company

Dalmia Cement (Bharat) Limited, Dalmia Power Limited, Kanika Investment Limited,

Subsidiaries of Dalmia Cement (Bharat) Limited

Arjuna Brokers & Minerals Limited, Dalmia Cement Ventures Limited, D.I. Properties Limited, Dalmia Minerals & Properties Limited, Geetee Estates Limited, Hemshila Properties Limited, Ishita Properties Limited, Shri Radha Krishna Brokers & Holdings Limited, Shri Rangam Properties Limited, Sri Dhandauthapani Mines & Minerals Limited, Sri Madhusudana Mines & Properties Limited, Sri Shanmugha Mines & Minerals Limited, Sri Subramanya Mines & Minerals Limited, Sri Swaminatha Mines & Minerals Limited, Sri Trivikrama Mines & Properties Limited.

Step down Subsidiaries of Dalmia Cement Ventures Limited

Golden Hills Resort Private Limited and Rajputana Properties Private Limited

Step down Subsidiaries of Dalmia Minerals & Properties Limited

Cosmos Cements Limited and Sutnga Mines Private Limited

Subsidiary of Dalmia Power Limited

DCB Power Ventures Limited

Associate of the Subsidiary Company Dalmia Cement (Bharat) Limited.

OCL India Limited

Joint Ventures of the Subsidiary Company Dalmia Cement (Bharat) Limited

Khappa Coal Company Private Limited

Key Management Personnel of the Company

Shri J. H. Dalmia, Shri Y. H. Dalmia - Managing Director, Shri Gautam Dalmia, Shri Puneet Yadu Dalmia.

Relatives of Key Management Personnel

Shri V. H. Dalmia (Brother of Director), Shri J. H. Dalmia (HUF), Smt. Kavita Dalmia (Wife of Director), Shri Y. H. Dalmia (HUF), Smt. Bela Dalmia (Wife of Managing Director), Shri Gautam Dalmia (HUF), Smt. Anupama Dalmia (Wife of Director), Smt. Avantika Dalmia (Wife of Director), Kumari Shrutipriya Dalmia (Daughter of Managing Director), Kumari Sukeshi Dalmia (Daughter of Director), Kumari Vaidehi Dalmia (Daughter of Director), Kumari Sumana Dalmia (Daughter of Director), Kumari Avanee Dalmia (Daughter of Director), Mst. Priyang Dalmia (Son of Managing Director) Shri M. H. Dalmia, (Brother of Director) Smt. Abha Dalmia (Wife of Brother of Director), Shri R. H. Dalmia (Brother of Director).

Enterprises controlled by the Key Management Personnel of the Company

Rama Investment Company Private Limited, Puneet Trading & Investment Company Private Limited, Kavita Trading & Investment Company Private Limited, Sita Investment Company Limited, Mayuka Investment Limited, Ankita Pratisthan Limited, Himgiri Commercial Limited, Valley Agro Industries Limited, Shri Nataraj Ceramic and Chemical Industries Limited, Shri Chamundeswari Minerals Limited, Shree Nirman Limited, Keshav Power Limited, Avanee and Ashni Securities Private Limited, ZipAhead.Com Limited, Alirox Abrasives Limited, Sukeshi Trust, Vaidehi Trust, Sumana Trust, Shrutipriya Dalmia Trust,Priyang Trust, Avanee Trust, Raghu Hari Dalmia Parivar Trust,Dalmia Sugar Ventures Limited, Himshikhar Investment Limited, Dalmia Solar Power Limited, Dalmia Bharat Sugar and Industries Limited, New Habitat Housing Finance and Development Limited.

1. Sale of goods and services includes transaction with Dalmia Cement (Bharat) Limited Rs.80.35 Cr. (Previous Year Rs.64.27Cr.).

2. Reimbursement of expenses - receivable includes transaction with Dalmia Cement (Bharat) Limited Rs.0.45 Cr. (Previous YearRs.14.94 Cr.), Shri Nataraj Ceramic and Chemical Industries Limited Rs.4.24 Cr. (Rs.3.38 Cr.).

3. Reimbursement of expenses - payable includes transaction with Shri Nataraj Ceramic and Chemical Industries Limited Rs.6.96 Cr. (Previous Year Rs.6.67 Cr.).

4. Purchase of goods and services includes transaction with Dalmia Cement (Bharat) Limited Rs.5.32 Cr. (Previous Year Rs.5.79 Cr), Shri Nataraj Ceramic and Chemical Industries Limited Rs.27.96 Cr. (Previous Year Rs.21.83 Cr).

5. Rent Receipts includes transaction with Dalmia Bharat Sugar and Industries Limited Nil (Previous Year Rs.0.07 Cr).

6. Interest received includes transaction with Dalmia Bharat Sugar and Industries Limited Rs.3.73 Cr. (Previous Year Rs.1.77 Cr.).

7. Receipt of fund on their behalf and transfer includes transaction withDalmia Cement (Bharat) Limited Nil (Previous Year Rs.34.50 Cr), Dalmia Bharat Sugar and Industries Limited Nil (Previous Year Rs.20.84 Cr).

8. Sale of Equity Shares includes transaction with DCB Power Ventures Limited Nil (Previous Year Rs.10.63 Cr)

9. Loan and advances given includes transaction with Dalmia Bharat Sugar and Industries Limited Rs.166.00 Cr. (Previous Year Rs.189.20 Cr).

10. Loans and advances received back includes transaction with Dalmia Bharat Sugar and Industries Limited Rs.141.00 Cr. (Previous Year Rs.164.20 Cr).

11. Sale of Fixed Assets includes transaction with Dalmia Bharat Sugar and Industries Limited Nil (Previous Year Rs.0.24Cr).

12. Salary &Perquisites includes transaction with Sh. Jai Hari Dalmia Rs.0.25 Cr. (Previous Year Nil), Sh. Yadu HariDalmia Rs.0.25 Cr. (Previous Year Nil).

1. Loan receivable includes Dalmia Power Limited Rs.7.12 Cr. (Previous Year Rs.6.67 Cr.), Dalmia Bharat Sugar and Industries Limited Rs.50.00 Cr. (Previous Year Rs.25.00 Cr.).

2. Amount receivable includes Dalmia Cement (Bharat) Limited Rs.0.18 Cr. (Previous Year Rs.9.14 Cr.), Dalmia Bharat Sugar and Industries Limited Nil (Previous Year Rs.29.09 Cr.), Dalmia Solar Power Ltd. Rs.2.10 Cr. (Previous Year Rs.2.10 Cr.).

3. Amount payable includes Dalmia Cement (Bharat) Limited Rs.1.70 Cr. (Previous Year Nil), Shri Nataraj Ceramic and Chemical Industries Limited Rs.0.80 Cr. (Previous Year Rs.2.68 Cr.).

4. Security deposit receivable includes Shri Nataraj Ceramic and Chemical Industries Limited Rs.1.25 Cr. (Previous Year Rs.1.25 Cr).

6. Figures less than Rs. fifty thousand which are required to be shown separately have been shown at actual in double brackets.

7. Till the year ended March 31, 2011, the Company was using pre-revised Schedule VI to the Companies Act, 1956, for preparation and presentation of its financial statements. During the year ended March 31, 2012, the revised Schedule VI notified under the Companies Act, 1956, has become applicable to the Company. The Company has reclassified previous year figures to confirm to this year's classification.


Mar 31, 2011

1. Contingent liabilities (not provided for) in respect of:

(Rsin Million)

Particulars 2010-11 2009-10

a) Claims against the Company

not acknowledged as debts 4.53 -

Based on favourable decisions in similar cases, legal opinion taken by the Company, discussions with the solicitors etc, the Company believes that there is a fair chance of favourable decisions in respect of the items listed above and hence no provision is considered necessary against the same.

5. In the opinion of the Board and to the best of their knowledge and belief, the value on realisation of loans, advances and current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

6. Details of dues to Micro and Small Enterprises as per MSMED Act, 2006 to the extent of information available with the company.

12. Gratuity and Other Post Employment Benefit Plans

Gratuity

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service. The Scheme is funded with an insurance company in the form of a qualifying insurance policy.

The following tables summarise the components of net benefit expense recognised in the Profit and Loss Account and the funded status and amounts recognised in the Balance Sheet for the plan.

Provident Fund

The Guidance note issued by Accounting Standard Board (ASB) on implementing AS 15, Employee Benefit (Revised 2005) states that provident funds set up by the employers, which require interest shortfall to be met by the employer, needs to be treated as defined benefit plan.The fund does not have any existing deficit or interest shortfall. In regard to any future obligation arising due to interest shortfall (i.e. government interest to be paid on provident fund scheme exceeds rate of interest earned on investment), pending the issuance of Guidance Note from the actuarial society of India, the Company's actuary has expressed his inability to reliably measure the same.

13. The Company's operating business are organised and managed separately according to the nature of products manufactured and services provided. The two identified reportable segments are Refractory, Management services. As the export turnover is insignificant in comparison to total turnover,there are no reportable geographical segment.

14.Related Party Disclosure as required by Accounting Standard-18.

a. List of related parties along with nature and volume of transactions is given below:

Subsidiaries of the Company

Dalmia Cement (Bharat) Limited,

Dalmia Power Limited,

Kanika Investment Limited,

Subsidiaries of Dalmia Cement (Bharat) Limited

Arjuna Brokers & Minerals Limited, Dalmia Cement Ventures Limited, D.I. Properties Limited, Dalmia Minerals & Properties Limited, Geetee Estates Limited, Hemshila Properties Limited, Ishita Properties Limited, Shri Radha Krishna Brokers & Holdings Limited, Shri Rangam Properties Limited, Sri Dhandauthapani Mines & Minerals Limited, Sri Madhusudana Mines & Properties Limited, Sri Shanmugha Mines & Minerals Limited, Sri Subramanya Mines & Minerals Limited, Sri Swaminatha Mines & Minerals Limited, Sri Trivikrama Mines & Properties Limited

Step down Subsidiaries of Dalmia Cement Ventures Limited

Golden Hills Resort Private Limited and Rajputana Properties Private Limited

Step down Subsidiaries of Dalmia Minerals & Properties Limited

Cosmos Cements Limited and Sutnga Mines Private Limited

Subsidiary of Dalmia Power Limited

DCB PowerVentures Limited

Associate of the Subsidiary Company Dalmia Cement (Bharat) Limited.

OCL India Limited

Joint Ventures of the Subsidiary Company Dalmia Cement (Bharat) Limited

Khappa Coal Company Private Limited

Key Management Personnel of the Company

Shri J. H. Dalmia, Shri Y. H. Dalmia-Managing Director,

Shri Gautam Dalmia, Shri PuneetYadu Dalmia.

Relatives of Key Management Personnel

Shri V. H. Dalmia (Brother of Director), J. H. Dalmia (HUF), Smt. Kavita Dalmia (Wife of Director) Y H. Dalmia (HUF), Smt. Bela Dalmia (Wife of Managing Director), Gautam Dalmia (HUF), Smt. Anupama Dalmia (Wife of Director), Smt. Avantika Dalmia (Wife of Director), Kumari Shrutipriya Dalmia (Daughter of Managing Director), Kumari Sukeshi Dalmia (Daughter of Director), Kumari Vaidehi Dalmia (Daughter of Director), Kumari Sumana Dalmia (Daughterof Director),Kumari Avanee Dalmia (Daughter of Director), Mst. Priyang Dalmia (Son of Managing Director) Shri M. H. Dalmia,(Brother of Director) Smt. Abha Dalmia (Wife of Brotherof Director), Shri R.H. Dalmia (Brotherof Director).

Enterprises controlled by the Key Management Personnel of the Company

Rama Investment Company Private Limited, Puneet Trading & Investment Company Private Limited, Kavita Trading & Investment Company Private Limited, Sita Investment Company Limited, Mayuka Investment Limited, Ankita Pratisthan Limited, Himgiri Commercial Limited, Valley Agro Industries Limited, Shri Nataraj Ceramic and Chemical Industries Limited, Shri Chamundeswari Minerals Limited, Shree Nirman Limited, Keshav Power Private Limited, Avanee and Ashni Securities Private Limited, ZipAhead.Com Limited, Alirox Abrasives Limited, Sukeshi Trust, Vaidehi Trust, Sumana Trust, Shrutipriya Dalmia Trust, Priyang Trust, Avanee Trust, Raghu Hari Dalmia Parivar Trust, Dalmia Sugar Ventures Limited, Himshikhar Investment Limited, Dalmia Solar Power Limited, Dalmia Bharat Sugar and Industries Limited, New Habitat Housing Finance and Development Limited.

15. A Scheme of Arrangement between the Company, DBSIL [Dalmia Bharat Sugar and Industries Limited (formerly known as Dalmia Cement (Bharat) Limited)], DPVL [DCB Power Ventures Limited], DCBL [Dalmia Cement (Bharat) Limited (formerly known as Avnija Properties Limited)] and their respective shareholders and creditors under section 391 - 394 of the Companies Act 1956 has been sanctioned by the Hon'ble High Court of Madras on July 29, 2010 and made effective on September 1, 2010. According to the said Scheme, in the first phase the Cement, Captive Thermal Power and the Refractory businesses were demerged and transferred to the Company with effect from the appointed date, i.e., April 1, 2010. Thereafter, in the second phase, the Cement and Captive Thermal Power business weredemerged into DCB Land DPVL, respectively, with effect from the samedate.

As per the accounting treatment detail in the Scheme, the Company has recorded the transfer of the assets and liabilities of the aforementioned undertakings vested in it, pursuant to the Scheme at the respective values as recorded in the books of DBSILas on the appointed date. Similarly the assets and liabilities of the businesses transferred and vested in DCBL and DPVL have been transferred to the respective companies at the book values thereof

The Company has, accordingly, credited the difference between the value of assets and liabilities as reduced by the shares issued pursuant to the Scheme as"Business Restructuring Reserve"which shall constitute free reserves available for all purposes to the company, at its own discretion.

16. Figures less than X Five thousand which are required to be shown separately have been shown at actual in double brackets.

17. Previous Year Comparatives

a) Figures of previous year were audited by M/s Indra D. Narayan&Co..

b) Figures in brackets pertain to previous year. Previous year's figures have been regrouped where necessary to conform to this year's classification. Previous year figures are not strictly comparable. (Refer note B (15)).

 
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