1.  General Corporate Information
 
 Tata Metaliks Limited (the Company) is a subsidiary of Tata Steel
 Limited, engaged in the manufacture of foundry grade pig iron. The
 Company is having its manufacturing plants at Kharagpur in the state of
 West Bengal and at Redi in the State of Maharashtra.
 
 1 The Term loan of Rs. Nil (31.03.2011: Rs. 2800.00 lacs) from State Bank
 of India carried a variable rate of interest at 13% and was secured by
 equitable mortgage over landed properties of Kharagpur unit of the
 Company together with all buildings, structures and all plant and
 machinery thereon, on pari passu first charge basis with other term
 lenders and by way of hypothecation of moveable plant and machinery,
 stocks, book debts and other current assets on pari passu second charge
 basis with other term lenders. The loan has been repaid on November 3,
 2011.
 
 2 The corporate loan of Rs. Nil (31.03.2011: Rs. 1400.00 lacs) from State
 Bank of India carried a variable interest of 13% and was secured by
 equitable mortgage over landed properties of Kharagpur unit of the
 Company together with all buildings , structures and all plant and
 machinery thereon, on pari passu first charge basis with other term
 lenders and by way of hypothecation of moveable plant and machinery,
 stocks, book debts and other current assets on pari passu second charge
 basis with other term lenders. The loan has been repaid on October 13,
 2011.
 
 3 The Term loan of Rs. Nil (31.03.2011: Rs. 5500.00 lacs) from Canara Bank
 carried a variable rate of interest at 13.25% and was secured by
 equitable mortgage over landed properties of Kharagpur unit of the
 Company together with all buildings, structures and all plant and
 machinery thereon, on pari passu first charge basis with other term
 lenders and by way of hypothecation of moveable plant and machinery,
 stocks, book debts and other current assets on pari passu second charge
 basis with other term lenders. The loan has been repaid on October 14,
 2011.
 
 4 Working Capital Demand Loans / Short Term Working Capital Loans of Rs.
 3000.00 lacs (31.03.2011: Rs. 5000.00 lacs) and Cash Credit ofRs. 1146.98
 lacs (31.03.2011: Rs. 2100.34 lacs) from banks are secured by way of
 hypothecation of moveable plant and machinery, stock, book debts and
 other current assets on pari passu first charge basis and by way of
 equitable mortgage over landed properties of Kharagpur unit of the
 Company together with all buildings, structures and all plant and
 machinery on pari passu second charge basis.
 
 5 Loan from Holding Company of Rs. 2200.00 lacs (31.03.2011; Rs. 2200.00
 lacs) is meant for long term use and will be repaid or converted into
 long term financial instrument after finalisation of the financing plan
 for the Kamataka Project or March 31, 2014 whichever is earlier. Short
 term loan from the Holding Company of Rs. 5000.00 lacs has been taken on
 October 14, 2011 for three months and has been rolled over for further
 three months.
 
 6 Buyers'' Credit from Banks are repayable at the end of six months from
 the date of disbursement which are falling due from April 2012.
 
 
 1.  Includes Rs. 350.00 lacs on account of the amount contributed to
 Konkan Railway Corporation Limited (KRCL) for construction of Railway
 Siding in which the company has a right of preferential use over others
 for a period of 10 years.  Even though the ownership of the railway
 siding is vested with KRCL, the amount contributed by the company has
 been capitalised on the basis of the future economic benefits and
 amortised over a period of 10 years. The depreciation for the current
 year includes the amortisation charge Rs. 35.00 lacs (Previous year: Rs.
 35.00 lacs).
 
 2.  Other than lease hold land all other tangible assets are owned by
 the Company.
 
 2.  Contingent Liabilities
 
                                     As at 31.03.2012    As at 31.03.2011 
 
 (a) Cenvat credit disallowed            6,389.59            5,893.19
 
 (b) Bills discounted                      679.54            1,002.07
 
 (c) Guarantees given to banks on 
 behalf of subsidiary company for term
 loans 1&2                               8,665.56            7,859.76
 
 1 Includes a guarantee denominated in US dollar - USD 11,850,000
 (31.03.2011: USD 11,850,000)
 
 2 Loan outstanding against the guarantee as at 31.03.2012 Rs. 7740.72
 lacs (31.03.2011 : Rs. 7865.68 lacs)
 
 3.  Due to micro and small enterprises
 
 Based on and to the extent of information obtained from suppliers
 regarding their status as Micro, Small or Medium enterprises under
 Micro, Small and Medium Enterprises Development Act, 2006, there are no
 amounts due to them as at the end of the year.
 
 4.  Segment Reporting
 
 The Company is engaged in production and sale of Pig Iron and hence Pig
 Iron is the only reportable segment in accordance with Accounting
 Standard 17 - Segment Reporting.
 
 5.  Related Party Transactions
 
 Related party relationship :
 
 Name of the related party Nature of Relationship
 
 Tata Steel Limited Holding Company
 
 Tata Metaliks Kubota Pipes Limited Subsidiary
 
 TM International Logistics Limited : 
 
 Tata Steel Resources Australia Pty Limited
 
 Tata Steel Processing and Distribution Limited : L Fe||ow Subsidiaries
 
 International Shipping and Logistics FZE : 
 
 TRLKrosaki Refractories Limited
 (Formerly Tata Refractories Limited>
 Key Managerial Person - Mr. Harsh K Jha      Managing Director
 
 1 Ceased to be subsidiary effective May 31, 2011
 
 Defined Benefit Plans
 
 The Company provided the following employee benefits
 
 Funded : Gratuity
 
 Non Funded : Compensated absence
 
 6. The Board of Directors of the Company in its meeting held on
 September 27, 2011 had decided to divest its 300,000 Ton pig iron
 manufacturing facility at Redi in Maharashtra following which, the
 Company had entered into an agreement for its sale for a consideration
 of Rs. 180 Crores plus working capital as at the date of sale. However,
 the transaction could not be consummated by the long stop date i.e.,
 March 28, 2012 consequent upon which the parties decided to terminate
 the agreement by mutual consent on March 30, 2012. The Board continues
 to evaluate other strategic options including restarting of the
 operations of the Redi unit and therefore, continues to be included as
 part of continuing operations of the Company.
 
 7.  Consumption of raw materials include Rs. 478.52 lacs and Change in
 stocks include Rs. 63.33 lacs (Previous year : Rs. 58.81 Lacs ) towards
 write down of closing inventory of Raw materials and finished goods to
 net realisable value in accordance with Accounting Standard (AS) - 2 -
 Valuation of Inventory.
 
 8.  The Revised Schedule VI has become effective from April 1, 2011
 for the preparation of financial statements. This has impacted the
 disclosure and presentation made in the financial statements. Previous
 year''s figures have been regrouped/reclassified where necessary to
 correspond with the current year''s classification/disclosure.