1.    Outstanding Contracts - Capital Account:
 
 Estimated amount of contracts remaining to be executed on capital
 account and not provided for (Net of advances) are Rs. 7.25 Million
 (P.Y. Rs. 14.42 Million). Advances paid Rs. 3.67 Million (P.Y. Rs 10.16
 Million).
 
 2.  Contingent Liabilities not provided for:
 
                                              2010-11        2009-10
 
                                       Rs. in Million   Rs. in Million
 
 i) Outstanding of Bills discounted             Nil          13.45 
 
 ii) Disputed liabilities in respect 
 of Income Tax, Sales Tax, Central
 Excise and Service Tax (under appeal)        54.78          54.78
 
 iii)   Civil Suits                          102.80         124.20
 
 The Company has given a letter of comfort for general banking
 facilities provided by National Bank of Abu Dhabi to Gulf Jyoti
 International LLC. The total loan outstanding from the bank to the said
 Company is AED 9.65 Million (P.Y. AED 17.01 Million) equivalent to Rs.
 118.53 Million (P.Y. Rs. 208.48 Million) as on 31st March,2011.
                                                    
 3. The gross block of fixed asset includes Rs. 8.36 Million on account
 of revaluation of fixed assets carried out by the Company in the year
 1993-94. Consequent to the said revaluation, there is an additional
 charge of Rs. 0.24 Million (P.Y. 0.24 Million) on account of
 depreciation and an equivalent amount has been withdrawn from the
 revaluation reserve and credited to Profit and Loss account. This has
 no impact on the profit for the year.
 
 4. Disclosure as required by Accounting Standard 15 (revised 2005)
 Employee Benefits : Defined Contribution Plans:
 
 a) Provident Fund
 
 b) Superannuation Fund
 
 The provident funds are operated by the Regional Provident Fund
 Commissioner and the superannuation fund is administered by the
 Trustees of the Jyoti Structures Limited Officers Superannuation
 Scheme. Under the schemes, the Company is required to contribute a
 specified percentage of payroll cost to the retirement benefit schemes
 to fund the benefits. These funds are recognised by the Income Tax
 authorities.
 
 5.  The Company has invested an amount of AED 12.93 Million equivalent
 to Rs. 164.28 Million in its Joint Venture Company namely, Gulf Jyoti
 International LLC. That Company maintains its accounts on calendar year
 basis. The total paid up capital of the Company as on 31st December
 2010 was AED 43.10 Million (P.Y. AED 43.10 Million). As against this
 capital, the total profit earned during the year was AED 5.76 Million
 (P.Y. Loss AED 5.00 Million) and total accumulated losses as on 31st
 December 2010 were AED 33.80 Million (P.Y. AED 39.56 Million). However,
 based on the orders in hand and the business outlook of the Joint
 Venture Company, the management is of the opinion that these
 accumulated losses are temporary in nature and will be recovered in the
 next couple of years. Due to this, the management believes that there
 is no diminution in value of the investment and therefore no provision
 for the same is made during the year.
 
 6.  The Company has invested an amount of 70 Rand equivalent to Rs.
 0.00042 Million in its subsidiary company, namely Jyoti Structures
 Africa (Pty) Ltd. The said Company has prepared its accounts for the
 period of 13 months ending on 31st March, 2011. The paid up capital of
 the said company as on 31st March, 2011 is 100 Rand equivalent to Rs.
 0.00060 Million, its loss for the period ended 31st March, 2011 is
 12.17 Million Rand equivalent to Rs. 77.02 Million and its total
 accumulated losses as on 31st March, 2011 is 29.76 Million Rand
 equivalent to Rs. 197.72 Million. Further, the Company has given
 loans/advances to the subsidiary company totaling to Rs. 235.33 Million
 and amount outstanding against sales as at 31st March 2011, is Rs.
 553.51 Million based on the orders in hand and business outlook of the
 subsidiary company, the management is of the opinion that these
 accumulated losses are temporary in nature and will be recovered over
 the next few years. Therefore the management believes that there is no
 permanent diminution in the value of investment in the said subsidiary
 company and there is no necessity of a provision for the loans or debts
 outstanding from the said company.
 
 7.  During the year, the Company has capitalised interest of Rs. 0.41
 Million (P.Y. Rs. 1.39 Million) on borrowings made for acquisition of
 qualifying assets.
 
 8.  Expenditure on account of premium of forward exchange contracts to
 be recognised in the Profit and Loss Account of subsequent accounting
 periods amounts to Rs. 1.89 Million (P.Y. Rs. 3.10 Million).
 
 9.  Disclosures for operating leases under Accounting Standard 19 –
 Leases:
 
 a) Disclosures in respect of the agreements entered into after 1st
 April, 2001 for taking on leave and license/under operating leases; the
 residential/office premises and warehouses, including furniture
 fittings therein, as applicable, and machinery, are given below:
 
 10. Related Party Disclosures :
 
 Related party disclosures as required by Accounting Standard 18,
 Related Party Disclosures, issued by the Institute of Chartered
 Accountants of India are given below:
 
 Relationships (during the year)
 
 (a) Subsidiary of the Company: 
 i) Jyoti Energy Ltd.
 ii)    JSL Corporate Services Ltd.
 iii)   Jyoti Structures Africa (Pty) Ltd.
 iv)   Jyoti Holding Inc.
 v)    Jyoti Americas LLC
 
 (b)   Joint Venture:
 
 i)     Gulf Jyoti International LLC
 
 (c)   Key Management Personnel:
 i)     Mr. Prakash Thakur
 ii)    Mr. Santosh Nayak
 iii)   Mr. K. R. Thakur
 
 11. Remittance in Foreign Currencies for Dividend:
 
 The Company has not remitted any amount in foreign currencies on
 account of dividends during the year and does not have information as
 to the extent to which remittance, if any, of foreign currencies on
 account of dividends have been made by/on behalf of non-resident
 shareholders. The particulars of dividend payable to non-resident
 shareholders which was declared during the year are as under:
 
 12. Employees Stock Option Scheme:
 
 On 3rd August, 2005, the Company established Jyoti Structures Limited
 Employees Stock Option Scheme (ESOS) which was modified on 6th
 September, 2005, 9th October, 2006 and 31st March, 2008 respectively.
 Under the Scheme, the Company is authorised to issue upto 5,00,000
 (Five Lacs) options convertible into 25,00,000 (Twenty Five Lacs)
 Equity Shares of Rs.2/- each to employees. A Compensation Committee has
 been constituted by the Board of Directors of the Company to administer
 the Scheme.
 
 Each option is at a grant price of Rs. 85/- each to be converted into 5
 equity shares of Rs. 2/- each at an exercise price of Rs. 17/- per
 equity Share (being the exercise price adjusted after split of face
 value from Rs. 10/- to Rs. 2/-). Under the scheme, 30% of the options
 vest at the end of one year from the date of grant of options, 30% at
 the end of second year from the date of grant of options and the
 balance 40% at the end of third year from the date of grant of options.
 
 The amount of Rs.59.07 Million (P.Y.Rs. 59.60 Million) in Employee
 Stock Option outstanding account, represents discounts on the options
 outstanding.
 
 An amount of Rs. 16.98 Million (P.Y. Rs. 21.93 Million) debited to
 Employee Compensation Expense – ESOS account, represents the
 proportionate cost for the year and has been charged to the revenue
 account.
 
 13.  The terms and conditions of various contracts being executed by
 the Company provide for clauses in respect of liquidated damages
 applicable for any delay in completion of the whole or a portion of the
 contracts. In case of a few contracts, where there have been such
 delays in completion of the contracts, the Company is currently
 negotiating with its customers for an extension of time for the delays
 attributable to the customers to complete the contracts. It is
 currently uncertain as to whether the customers would grant the
 required extension of time and hence, the quantum of liquidated damages
 is also uncertain. As per the past experience, where the delays are due
 to reasons beyond the control of the Company, the approvals for time
 extensions are normally received from customers, which sometimes take
 more than reasonable time. As such, no provision on this account has
 been made in the books of account.
 
 14.  The Provision for Income Tax amounting to Rs. 253.18 Million (P.Y.
 Rs. 137.47 Million) as stated in the Balance Sheet is net of Advance
 Tax, Tax Deducted at Source and other adjustments.
 
 15.  Sundry creditors for goods/services include amounts payable beyond
 one year, consist of retentions of Rs. 163.27 Million (P.Y. Rs. 120.48
 Million).
 
 16. Sundry creditors includes dues to micro and small enterprises to
 whom the Company owes amounts outstanding for more than 45 days. The
 information regarding micro and small enterprises has been determined
 to the extent such parties have been identified on the basis of
 information available with the Company. This has been relied upon by
 the auditors. The details are as follows:
 
 17.  As the Companys principal business falls within the single
 segment i.e. power transmission and distribution wherein it
 manufactures, deals in various components/equipments and constructs
 infrastructure related to power transmission, there are no separate
 reportable or identifiable business segments as defined by Accounting
 Standard - 17 Segment Reporting. The information regarding
 Geographical Segment is provided under Notes to Consolidated Financial
 Statement.
 
 18.  The Company has allotted 10,072,005 no. of 7% Non Convertible
 Debentures having face value of Rs. 120/- each at par during the year.
 The said debentures are redeemable at par on 14th May, 2012. The amount
 realised from the proceed of the issue is utilised for the
 re-payment/pre-payment of working capital loans and for meeting issue
 expenses as specified in the Letter of Offer.
 
 19.  The Ministry of Corporate affairs, Government of India vide its
 notification no. 2/2011 dated 8th Feb, 2011 has granted a general
 exemption from compliance with section 212 of the Companies Act, 1956
 subject to fulfillment of conditions stipulated in the circular. The
 Company has satisfied the conditions stipulated in the circular and
 hence is entitled for the exemption. Necessary information relating to
 the subsidiaries have been included in the consolidated financial
 statements.
 
 20.  Previous years figures have been reworked, regrouped, rearranged
 and reclassified wherever necessary.