Dalmia Cement (Bharat)

1.  There are no prior period expenses during the year. Prior period
 income amounting to Rs. 3.49 Million ( Rs.5.06 Million) representing
 excess provision written back have been credited to Miscellaneous
 Receipts.
 
 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.  The Company is a lessor in respect of certain items of buildings,
 plant and machinery etc. The said fixed assets have been given on an
 operating lease for a period of 10 years. The lease is non-cancellable
 by the lessee and the lease rental in respect of the said lease is Rs.
 22.05 Million per annum and the same has been recognised in the
 accounts for the year and no contingent rent has been recognised in
 this regard.
 
 4. Eswar Cements Private Limited, a wholly owned subsidiary has been
 amalgamated with the Company with effect from the appointed date 1st
 April, 2007 as per the Scheme of Amalgamation approved by the members
 and subsequently sanctioned by the Honourable High Courts of Madras and
 Andhra Pradesh. The Order has been filed with the Registrar of
 Companies, TamilNadu on 25.12.08, the effective date for amalgamation.
 The amalgamation has been accounted for under the pooling of interest
 method as prescribed in AS– 14 “ Accounting for Amalgamations”. The
 accounts of the transferor Company for the year ended 31st March, 2008
 were audited and approved by the members, hence the assets and
 liabilities of the Company as at 1st April, 2008 representing net
 assets of Rs. 297.72 million have been taken over at their book values.
 As per Scheme 16,07,500 Equity shares of Eswar Cements Private Limited
 of Rs.10 each, fully paid up, stand cancelled.
 
 5.  Sundry creditors includes Rs.1500 Million payable to Banks in
 respect of farmers finance facilities where the Company is working as
 Management and collection agent.
 
 6.  Disclosure of Sundry Creditors under Current Liabilities is based
 on the information available with the Company regarding the status of
 the suppliers as defined under the “Micro, Small and Medium Enterprises
 Development Act, 2006”. There are no delays in payments to Micro and
 Small Enterprises as required to be disclosed under the Act.
 
 7.  Particulars of Foreign currency exposures that are not hedged by
 derivative instruments or otherwise are as under: USD 17.76 Million
 equivalent to Rs 899.44 Million, JPY 2.75 Million equivalent to Rs.1.42
 Million, CHF 0 .02 Million equivalent to Rs. 0.97 Million, AUD 0.02
 Million equivalent to Rs. 0.64 Million (Previous year USD 17.47 Million
 equivalent to Rs.701.66 Million, JPY 5.84 Million equivalent to Rs.2.37
 Million, EURO 14.91 Million equivalent to Rs.947.22 Million, GBP 0.04
 Million equivalent to Rs.3.07 Million, CHF 0.01 Million equivalent to
 Rs.0.37 Million)Particulars of Foreign currency exposures that are
 hedged by derivative instruments or otherwise are as under: USD 45.36
 Million equivalent to Rs.2293.38 Million, EURO 0.53 Million equivalent
 to Rs.34.16 Million, (Previous year Nil )
 
 The exposures relate to short term debt.
 
 8.  Related Party Disclosure, as required by Accounting Standard-18 is
 as below:
 
 A.  Relationships:
 
 (i) Subsidiaries of the Company:
 
 Kanika Investment Limited, Ishita Properties Limited, D.I. Properties
 Limited, Geetee Estates Limited, Avnija Properties Limited, Shri Rangam
 Properties Limited, Hemshila Properties Limited, Himshikhar Investment
 Limited, Dalmia Minerals & Properties Limited, Shri Radha Krishna
 Brokers & Holdings Limited, Seeta Estates & Brokers Limited, Shri
 Rangam Brokers & Holdings Limited, Arjuna Brokers & Minerals Limited,
 Sri Kesava Mines & Minerals Limited, Sri Madhava Minerals & Properties
 Limited, Sri Shanmugha Mines & Minerals Limited, Sri Swaminatha Mines &
 Minerals Limited, Sri Subramanya Mines & Minerals Limited, Sri
 Trivikrama Mines and Properties Limited, Sri Dhandauthapani Mines and
 Minerals Limited, Sri Madhusudana Mines and Properties Limited and
 Dalmia Sugar Ventures Limited
 
 (ii) Step down Subsidiary of the Company :
 
 Dalmia Cement Ventures Limited, Cosmos Cements Limited (w.e.f.
 02.05.08),Sutnga Mines Private Limited (w.e.f.  02.05.08), Golden Hills
 Resort Private Limited (w.e.f. 29.09.08) and Rajputana Properties
 Private Limited (w.e.f. 29.09.08 )
 
 (iii) Associate of the Company : OCL India Limited
 
 (iv)Key Management Personnel of the Company :
 
 Shri J.H.Dalmia– Vice-Chairman, Shri Y.H.Dalmia – Vice-Chairman , Shri
 Gautam Dalmia - Joint Managing Director , Shri Puneet Dalmia – Managing
 Director, and Shri T. Venkatesan – Whole time Director.
 
 (v) Relatives of Key Management Personnel :
 
 Shri V.H. Dalmia, Shri J.H.Dalmia (HUF), Smt. Kavita Dalmia, Shri
 Y.H.Dalmia (HUF), Smt. Bela Dalmia, Shri Gautam Dalmia, Shri Gautam
 Dalmia (HUF), Smt. Anupama Dalmia, Shri Puneet Dalmia, Smt. Avantika
 Dalmia, Kumari Shrutipriya Dalmia, Kumari Sukeshi Dalmia, Kumari
 Vaidehi Dalmia, Kumari Sumana Dalmia, Kumari Avanee Dalmia, Mst.
 Priyang Dalmia, Shri M.H.Dalmia, Smt. Abha Dalmia, Shri R.H.Dalmia and
 Smt. Kala Venkatesan.
 
 (vi)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, OCL India Limited, ZipAhead.Com Limited, Alirox Abrasives
 Limited, Sukeshi Trust, Vaidehi Trust, Sumana Trust, Shrutipriya Dalmia
 Trust, Priyang Trust, Avanee Trust and Raghu Hari Dalmia Parivar Trust.
 
 9.  (a) Previous year figures have been regrouped/ rearranged wherever
 considered necessary.
 
 (b) Figures less than Rs.  Five thousand which are required to be shown
 separately have been shown at actuals in double brackets.
 
 (c) Figures in brackets pertain to previous year.