31.03.2011      31.03.2010
                                          Rs.             Rs.
 
 1.  Contingent Liabilities:
 
 a.  Bank Guarantees                128,897,507     128,897,507
 
 b.  Outstanding Letters of Credit 
 (Including Capital Goods)         1290,308,211     444,994,483
 
 c.  Claims against Company, not 
 acknowledged as debts               16,401,284      16,721,284
 
 d.  Uncalled liability of 
 partly paid shares                1308,000,000    3309,000,000
 
 e.  Demands raised by authorities 
 against which, Company has filed
 appeals:
 
 i) Income Tax                       58,128,668      77,673,397
 
 ii) Excise Duties                            -      19,680,000
 
 iii) Sales Tax                      22,493,097      22,493,097
 
 iv) Custom Duties                   61,366,000       8,160,000
 
 2.  Computation of Net Profit under section 198 of the Companies Act,
 1956 for the purpose of remuneration payable to Whole Time Directors
 has not been enumerated as no commission is payable to them.
 
 b) During the year an amount of Rs. 48,162,594 has been transferred to
 Repair and Maintenance from Capital Work in progress.
 
 3.  Term Loan installments due within next one year is amounting to Rs.
 7082.27 Lacs. (Rs. 2979.91 lacs).
 
 4.  Pursuant to the adoption of Accounting Standards as prescribed by
 Companies (Accounting Standards) Rules,2006 issued by Ministry of
 Corporate Affairs vide notification no. G.S.R.739 (E) dated December 7,
 2006 and as required by Accounting Standard 11 –
 
 a) Gain of Rs 612.17 lacs (previous year Rs. 4649.40 lacs) on
 translation/settlement of foreign currency monetary items including
 borrowings have been shown as exceptional items in the profit and loss
 account.
 
 b) Gain on account of hedging against export exposures amounting to Rs.
 Nil, (previous year loss of Rs. 50.90 lacs) have been accounted under
 the head other income/(other expenses) in the profit & loss account.
 
 5.  A sum of Rs.21,197,894 (previous year Rs.12,394,101) being the
 difference between domestic vs. imported material prices prevailing at
 the end of the period ended 31st March 2011 on account of advance
 licences excess utilized for which exports are yet to be made, has been
 adjusted in the cost of raw material.
 
 Export Incentive under Duty Entitlement Pass Book Scheme (DEPB) amount
 to Rs. 174,115,932 (Previous year Rs.  152,977,025) has been credited
 in the account of raw material.
 
 6.  Advance receivable in cash or in kind includes Rs. 28,254,171
 (Previous Year Rs. 28,254,171) being the amount of custom duty
 deposited against import of capital goods assessed under provisional
 assessments in earlier year.
 
 7 (a) 600 shares of Hindustan Thermal Power Generation Ltd. (Formerly
 Hindustan Polyester Ltd.) of which the Company is beneficial owner are
 held by certain individuals in fiduciary capacity.
 
 (b) 6 shares of Jindal Metal & Mining Ltd. of which the Company is
 beneficial owner are held by certain individuals in fiduciary capacity.
 
 (c) 6 shares of Jindal Poly Films Investments Ltd. of which the Company
 is beneficial owner are held by certain individuals in fiduciary
 capacity.
 
 (d) 6 shares of Haldia Synthetic Rubber Ltd. of which the Company is
 beneficial owner are held by certain individuals in fiduciary capacity.
 
 8.  Certain old balances of sundry debtors and sundry creditors are
 subject to reconciliation and confirmation.
 
 9.  Under the Packaging Scheme of Incentive approved by the Government
 of Maharashtra, the Company is entitled to industrial promotion subsidy
 to the extent of 100% of the fixed capital investment or the extent of
 taxes paid to the State Government within a period of 7 years,
 whichever is lower. During the year, the Company is entitled for an
 amount of Rs.474,219,586 (Previous Year Rs.273,237,356), under that
 scheme and the same has been shown as income, under the head of other
 income.
 
 10.  In the opinion of the Board and to the best of their knowledge and
 belief, the realizable value of current assets, loans and advances in
 the ordinary course of business would not be less than the amount at
 which they are stated in the Balance Sheet.
 
 11.  Stores and spares consumed and salaries and wages incurred during
 the year for repair and maintenance of plant & machinery and sheds &
 building, have been charged to the former accounts wherever separation
 is not ascertainable.
 
 12.  The Company has not received from suppliers regarding their status
 under the Micro, Small and Medium Enterprises Development Act, 2006 and
 hence disclosures, if any, relating to amounts unpaid as at the year
 end together with interest paid/payable as required under the said Act
 have not been given.
 
 13.  The Export obligation undertaken by the company for import of
 capital equipments under EPCG/100% EOU scheme of the Central Government
 at the concessional or zero rate of custom duty are in the opinion of
 the management expected to be fulfilled within their respective due
 dates/extended due dates.
 
 14.  a) As per Accounting Standard 28 issued by ICAI, impairment loss
 on Assets at Khanvel (Being one of the unit Manufacturing PET Films of
 the company) was provided by the company during the year ended 31st
 March 2003. Now in the opinion of the management, there is no further
 loss on account of impairment of assets, lying at Khanvel in which
 operations have been suspended.
 
 b) (i) Operations in respect of Company''s units at Gulaothi were lying
 suspended. However carrying cost of these units are reflected at
 historical cost. The management is of view that there is no loss on
 account of impairment of assets as required by AS 28 issued by ICAI as
 the realisable value of these assets are higher than the carrying cost.
 
 (ii) A part of the scrapped Plant & Machinery at Gulaothi was disposed
 off during the year for Rs. 77.16 Lacs. The same has been adjusted from
 Net Block as profit / loss, if any, is ascertainable only after
 completion of the total disposal of Plant & Machinery.
 
 15.  Previous year''s figures have been regrouped and/or rearranged
 wherever required.
 
 16 Additional information pursuant to the provision of the part II of
 Schedule II of the Companies, Act,1956 (as certifi ed & classifi ed by
 the Management)
 
 (The Company has issued and allotted 2,30,21,138 equity shares on 26th
 October, 2010 as bonus shares by capitalizing reserves. Consequently
 the comparative EPS fi gures in all the cases have been recalculated
 giving effect of the Bonus Shares, as required by Accounting Standard
 (AS) 20).
 
 17 Segment Reporting Policies
 
 i) Primary Segment
 
 Business Segment : The Company''s operating business are organised and
 managed separately according to the nature of products.
 
 ii) Secondary Segment
 
 Geographical Segment : The analysis of geographical segment is based on
 the geographical location of the customers.
 
 iii) Corporate income and expenses are considered as part of
 unallocable income and expense, which are not identifi able to any
 business segment.
 
 18 A) As required by Accounting Standard-18 Related Party Disclosure
 issued by the Institute of Chartered Accountants of India are as
 follows:-
 
 List of Related Parties
 
 a.  Companies/Individuals/Associates:
 
 1 Sh. B.C.Jindal
 
 2 Sh. S.S.Jindal
 
 3 Smt. Subhadra Jindal
 
 4 Miss Akriti Jindal
 
 5 Agile Properties Ltd.
 
 6 Bajaloni Group Ltd.
 
 7 Conslidated Finvest & Holdings Ltd.
 
 8 Consolidated Buildwell Ltd.
 
 9 Consolidated Photo & Finvest Ltd.
 
 10 Consolidated Realtors Ltd.
 
 11 Jesmine Investment Ltd.
 
 12 Jindal Imaging Ltd.
 
 13 Jindal India Ltd.
 
 14 Jindal Meadows Ltd.
 
 15 Jindal Photo Investments Ltd.
 
 16 Jindal Photo Ltd.
 
 17 Jindal Realtors Ltd.
 
 18 Jindal India Thermal Power Ltd.
 
 19 Jumbo Finance Ltd.
 
 20 Jupax Barter Pvt..Ltd.
 
 21 Pasion Tea Private Ltd.
 
 22 Rishi Trading Co. Ltd.
 
 23 Soyuz Trading Co. Ltd.
 
 24 Vigile Farms Ltd.
 
 25 Jindal India Finvest & Holdings Limited
 
 26 Mandakini Coalmines Limited
 
 27 Jindal India Powertech Limited
 
 28 Jindal India Powerventures Limited
 
 29 Jindal Buildmart Limited
 
 30 Jindal Realmart Private Limited
 
 31 Hindustan Powergen Limited
 
 32 Jindal Minerais & Metais (Mozambique) Lda
 
 33 Consolidated Green Finvest P Ltd.
 
 b.  Subsidiary Companies
 
 1 Hindustan Thermal Power Generation Limited
 
 2 Jindal France SAS
 
 3 Rexor SAS
 
 4 Jindal Solar Rajasthan Limited
 
 5 Jindal Solar Powertech Limited
 
 6 Jindal Poly Films Investment Limited (w.e.f. 03.11.2010)
 
 7 Jindal Metal & Mining Limited (w.e.f. 16.11.2010)
 
 8 Haldia Synthetic Rubber Ltd (w.e.f. 21.02.2011)
 
 9 Jindal Resources (Mozambique) Lda (w.e.f. 05.10.2010)
 
 10 Trans Indian Mining Lda (w.e.f. 17.03.2011)
 
 c.  Key Management Personnel
 
 1 Sh. R.B. Pal
 
 2 Sh. Sameer Banerjee
 
 3 Sh. Sanjay Mittal