BIS List of 946 Items 5

ANNUAL REPORT
&
ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH, 2016
Deepak Industries Limited

P. K. DAGA CHAIRMAN-CUM-MANAGING DIRECTOR
Y. K. DAGA VICE-CHAIRMAN-CUM-JOINT MANAGING DIRECTOR
S. CHAKRAVORTI DIRECTORS
A. P. AGARWALLA
S. C. MOHTA
MEERA DOKANIA
V. D. MALL COMPANY SECRETARY
SINGHI & CO. AUDITORS

Chartered Accountants
STATE BANK OF INDIA BANKERS

UCO BANK
Maheshwari Datamatics Pvt.Ltd REGISTRAR & SHARE TRANSFER AGENTS

6, Mangoe Lane, 2nd Floor
Kolkata - 700 001
Phone : 033-2243-5809; 2243-5029
Fax : 033-2248-4787
E-mail : mdpl@cal.vsnl.net.in
Website : www.mdpl.in
DEEPAK INDUSTRIES LIMITED CORPORATE DETAILS

CIN No. L63022WB1954PLC021638
Registered Office :
16, Hare Street, 2nd Floor
Kolkata - 700 001
Phone : 033-2248-2391/2/3
Fax : 033-2248-9382
Website : www.dil-india.com
E-mail : secretary@dil-india.com
DEEPAK INDUSTRIES LIMITED
CIN : L63022WB1954PLC021638
Regd. Office : 16, Hare Street, Kolkata-700 001
Phone No.033-2248-2391/2/3 Fax No. 033-2243-9382
Website: www.dil-india.com Email: secretary@dil-india.com
NOTICE
Notice is hereby given that the 61st Annual General “RESOLVED THAT pursuant to section 148(3) and
Meeting of the shareholders of the Deepak Industries all other provisions of the Companies Act, 2013
Limited will be held at 16, Hare Street, 2nd Floor, and read with rule 14 of the Companies (Audit
Kolkata-700 001 on Thursday, the 29th September, and Auditors) Rules 2014, the remuneration
2016 at 2.00 P.M. to transact the following business:- of the Cost Auditors M/s. SPK Associates, Cost
Ordinary Business : Accountants, Kolkata (Firm’s Registration No.
000040) for conducting the audit of the cost
1. To receive consider and adopt the Audited records of the company for the year 2015-16
Balance Sheet of the Company as at 31st March, determined by the Board of Directors of the
2016 and the statement of profit and loss for Company at ` 50,000/- (apart from service tax
the year ended on that date together with the including cess as applicable and out of pocket
reports of the Board of Directors and Auditors of expenses) be and is hereby approved and
the Company thereon. ratified.”
2. To confirm interim dividend @Rs.40/- per share 7. To consider and if thought fit to pass the
paid to the shareholders of the Company. following resolution as an ordinary resolution:
3. To appoint a director in place of Shri Yashwant “RESOLVED THAT pursuant to the applicable
Kumar Daga (Holding DIN No.00040632) who provisions of the Companies Act, 2013 (“Act,
retires by rotation and being eligible offers 2013) (including any statutory modifications(s)
himself for re-appointment. or re-enactment thereof for the time being in
4. To appoint Statutory Auditors of the Company force), the rules framed thereunder and the
to hold office from the conclusion of this policy for Related Party Transaction and as
meeting until the conclusion of the next Annual approved by the Audit Committee and Board of
General Meeting of the Company and to fix their Directors, and subject to any other approvals, if
remuneration. any, approval of the Company be and is hereby
accorded to sell the 5 MW Solar power plant/
Special Business : unit situated at Madhya Pradesh at a price not
5. To consider and if thought fit to pass the less than ` 20.00 crores to Deepak Spinners
following resolution as an ordinary resolutions: Limited, a related party of the Company in terms
of section 2(76) of the Companies Act, 2013.
“RESOLVED THAT pursuant to Section 143(8)
and other applicable provisions, if any, of the RESOLVED FURTHER THAT any of the directors
Companies Act, 2013, M/s Salarpuria Jajodia & and also the Company Secretary of the Company,
Co,, Chartered Accountants,(Firm’s Registration be and is hereby authorized to take all such steps
No.302111E) be and are hereby re-appointed as as may be necessary, proper and expedient to
Branch Auditors to audit the Books of Accounts give effect to this Resolution”.
of Branches New Allenberry Works, at Kolkata, 8. Appointment of Smt. Meera Dokania as an
Faridabad, and Rudrapur of the Company from Independent Director of the Company.
the conclusion of this Annual General Meeting
till the conclusion of the next Annual General To consider and if thought fit to pass with or
Meeting on such remuneration as may be without modification(s) the following resoultion
determined by the Board of Directors of the as an Ordinary Resolution :
Company in consultation with the said Auditors. “Resolved that pursuant to the provisions
6. To consider and if thought fit to pass the of Section 149, 152 and other applicable
following resolution as an ordinary resolution: provisions, if any of the Companies Act, 2013
and rules made thereunder, read with Schedule
CIN No. L63022WB1954PLC021638
IV of the Act, as amended from time to time, 2nd Floor, Kolkata – 700 001, as its Registrar
and the Listing Regulations, Smt. Meera Dokania and Transfer Agents (RTA) for both physical and
(DIN : 07094376), a Director of the Company, demat segment of equity shares. Members are
who has submitted a declaration that she meets requested to send all their correspondence at the
the criteria of independence as provided in above address of RTA. For any communication,
section 149(6) of the Act and who is eligible for the shareholders may also send requests to
appointment, be and is hereby appointed as an email ids: mdpldc@yahoo.com and secretary@
Independent Director of the Company, not liable dil-india.com.
to retire by rotation and to hold office for 5 (five) 5. Members holding shares in the same name
consecutive years from 29th September 2016 to under different Ledger Folios are requested to
28th September 2021. apply for consolidation of such Folios and send
By Order of the Board relevant share certificates to the above referred
Registrar for doing the needful.
Place: Kolkata V D MALL 6. Members are requested to notify change in
Date : 10th August, 2016. Company Secretary address, if any, immediately to the above
referred Registrar quoting their Folio numbers.
NOTES
7. To prevent fraudulent transactions, members are
1. A MEMBER ENTITLED TO ATTEND AND VOTE advised to exercise due diligence and notify the
AT THE MEETING IS ENTITLED TO APPOINT Company of any change in address or demise of
A PROXY/ PROXIES TO ATTEND AND VOTE any member as soon as possible. Members are
INSTEAD OF HIMSELF/HERSELF. SUCH A PROXY/ also advised not to leave their demat account(s)
PROXIES NEED NOT BE A MEMBER OF THE dormant for long. Periodic statement of holdings
COMPANY. A person can act as proxy on behalf should be obtained from the concerned
of members not exceeding fifty (50) and holding Depository Participant and holdings should be
in the aggregate not more than ten percent of verified.
the total share capital of the Company carrying
8. In terms of circulars issued by The Securities
voting rights. A person holding more than 10% of
and Exchange Board of India (SEBI), it is now
the total share capital of the company carrying
mandatory to furnish a copy of Permanent
voting rights may appoint a single person as
Account Number Card (PAN Card) to the
proxy and such person can not act a proxy for
company or its Registrars and Transfer Agents
any person or shareholder.
in cases of Transfer of shares, Deletion of name,
The instrument of Proxy in order to be effective, Transmission of shares and Transposition of
should be deposited at the Registered Office of shares. Shareholders are requested to furnish
the Company, duly completed and signed, not copy of PAN Card for all the above mentioned
less than 48 hours before the commencement transactions.
of the meeting. A Proxy form is sent herewith.
Proxies submitted on behalf of the companies, 9. Details under Clause 49 of the Listing Agreement
societies etc., must be supported by an with the Stock Exchange in respect of the
appropriate resolution/authority, as applicable. Directors seeking appointment/re-appointment
at the Annual General Meeting forms integral
2. The Explanatory Statement pursuant to Section part of the notice. The Directors have furnished
102 of the Companies Act, 2013, which sets the requisite declarations for their appointment/
out details relating to Special Business at the re-appointment.
meeting, is annexed hereto.
10. Electronic copy of the Annual Report for 2015-
3. The Register of Members and the Share Transfer 16 is being sent to all the members whose email
books of the Company will remain closed from IDs are registered with the Company/Depository
23/09/2016 to 29/09/2016 (date of AGM) Participants(s) for communication purposes
(both days inclusive) for annual closing. unless any member has requested for a physical
4. Company has appointed M/S Maheshwari copy of the same. For members who have not
Datamatics Private Limited, 6, Mangoe Lane, registered their email addresses, physical copies
2
ANNUAL REPORT 2015-16
of the Annual Report for 2014-2015 is being sent 15. The Company has connectivity with both NSDL
in the permitted mode. and CDSL under ISIN No INE485J01016
11. In future, Electronic copy of the Notice of the VOTING THROUGH ELECTRONIC MEANS
General Meetings of the Company inter alia
Pursuant to Section 108 of the Companies Act, 2013
indicating the process and manner of e-voting
read with rule 20 of the Companies (Management
along with Attendance Slip and Proxy Form will
and Administration) Rules, 2014, as amended by
be sent to all the members whose email IDs
the Companies (Management and Administration)
are registered with the Company/Depository
Amendment Rules, 2015, the Company is pleased to
Participants(s) for communication purposes
provide its members the facility of “remote (e-voting
unless any member has requested for a physical
from a place other than the venue at AGM) to
copy of the same. For members who have not
exercise their right to vote at the AGM by electronic
registered their email address, physical copies of
means. The business may be transacted through
the Notice of the Annual General Meeting of the
e-voting services rendered by Central Depository
Company inter alia indicating the process and
Services (India) Limited (CDSL)
manner of e-voting along with Attendance Slip
and Proxy Form is being sent in the permitted The facility for E-voting through electronic voting
mode. system or through ballot /Polling paper shall also
be made available at the venue of the AGM. Only
12. Members may also note that the Notice of
those members attending the meeting, who have not
the Annual General Meeting and the Annual
already cast their vote through remote e-voting shall
Report for 2015-16 will also be available on
be able to exercise their voting rights at the meeting.
the Company’s website www.dil-india.com
The members who have already cast their vote
for their download. The physical copies of the
through remote e-voting may attend the meeting
aforesaid documents will also be available at
but shall not be able to cast their vote again at the
the Company’s Registered Office for inspection
AGM.
during normal business hours on working days.
Even after registering for e-communication, The Company has appointed Shri Pravin Kumar
members are entitled to receive such Drolia, Practising Company Secretary (Certificate of
communication in physical form, upon making a Practice No. 1362) as the Scrutinizer to scrutinize
request for the same, by post free of cost. for conducting the remote e-voting and the voting
process at the AGM in a fair and transparent manner.
13. Documents referred to in the accompanying
the e-voting process in a fair and transparent manner.
Notice and the Explanatory Statement shall be
open for inspection at the Registered Office of The instructions for shareholders voting electronically
the Company during normal business hours are as under :
(11.00 am to 5.00 pm) on all working days except (i) The remote E-voting period begins on
Saturdays up to and including the date of the 26/09/2016 at 9.00 A.M. and ends on 28/09/2016
Annual General Meeting of the Company. at 5.00 P.M. During this period, shareholders of
14. Institutional Members/Bodies Corporate (i.e the Company holding shares either in physical
other than individuals, HUF, NRI etc.) are form or in dematerialized form, as on the cut-off
required to send scanned copy (PDF/JPG Format) date (record date) of 22/09/2016, may cast their
of the relevant Board Resolution /Attorney vote electronically. The e-voting module shall be
letter etc. together with attested specimen disabled by CDSL for voting after 5.00 P M on
signature of the duly authorized signatory(ies) 28/09/2016.
who are authorized to vote through e-mail at (ii) The shareholders should log on to the e-voting
secretary@dil-india.com with a copy marked to website www.evotingindia.com.
helpdesk.evoting@cdslindia.com on or before
28/09/2016 up to 5.00 P.M. without which the (iii) Click on “Shareholders” tab.
vote shall not be treated as valid. (iv) Now Enter your User ID
3
CIN No. L63022WB1954PLC021638
For Members holding shares in Demat Form and Physical Form

PAN* Enter your 10 digit alpha-numeric *PAN issued by Income Tax Department (Applicable for both
demat shareholders as well as physical shareholders)
• Members who have not updated their PAN with the Company/Depository Partici-pant are
requested to use the first two letters of their name and the 8 digits of the sequence number
in the PAN field.
• In case the sequence number is less than 8 digits enter the applicable number of 0’s before
the number after the first two characters of the name in CAPITAL letters. Eg. If your name is
Ramesh Kumar with sequence number 1 then enter RA00000001 in the PAN field.
DOB Enter the Date of Birth as recorded in your demat account or in the company records for the
said demat account or folio in dd/mm/yyyy format.
Dividend Enter the Dividend Bank Details as recorded in your demat account or in the company records
Bank for the said demat account or folio.
Details Please enter the DOB or Dividend Bank Details in order to login. If both details are not recorded
with the depository or company please enter the member id/folio number in the Dividend
Bank details field .as mentioned in instruction (vii)
a. For CDSL : 16 digits beneficiary ID, share your password with any other person
and take utmost care to keep your password
b. For NSDL : 8 Character DP ID followed by 8
confidential.
Digits Client ID,
(x) For Members holding shares in physical form,
c. Members holding shares in Physical Form the details can be used only for e voting on the
should enter Folio Number registered resolutions contained in this Notice.
with the Company, excluding the special
(xi) Click on the EVSN for the relevant “Deepak
characters.
Industries Limited” on which you choose to
(v) Next enter the Image Verification as displayed vote.
and Click on Login. (xii) On the voting page, you will see “RESOLUTION
(vi) If you are holding shares in demat form and had DESCRIPTION” and against the same the option
logged on to www.evotingindia.com and voted “YES/NO” for voting. Select the option YES or
on an earlier voting of any company, then your NO as desired. The option YES implies that you
existing password is to be used. assent to the Resolution and option No implies
that you dissent to the Resolution.
(vii) If you are a first time user follow the steps given
(xiii) Click on the “RESOLUTION FILE LINK” if you
below :
wish to view the entire Resolution details.
(viii) After entering these details appropriately, click
on “SUBMIT” tab. (xiv) After selecting the resolution you have decided
to vote on, click on “SUBMIT” A confirmation
(ix) Members holding shares in physical form will box will be displayed. If you wish to confirm
then directly reach the Company selection your vote, click on “OK” else to change your
screen. However, members holding shares in vote, click on “CANCEL” and accordingly modify
demat form will now reach ‘Password Creation’ your vote.
menu wherein they are required to mandatorily
enter their login password in the new (xv) Once you “CONFIRM” your vote on the
password field. Kindly note that this password resolution, you will not be allowed to modify
is to be also used by the demat holders for your vote.
voting for resolutions of any other company (xvi) You can also take out print of the voting done
on which they are eligible to vote, provided by you by clicking on “Click here to print”
that company opts for e-voting through CDSL option on the Voting page.
platform. It is strongly recommended not to (xvii) If Demat account holder has forgotten the
4
same password then Enter the User ID and and register themselves as Corporates.
the image verification code and click on Forgot • A scanned copy of the Registration Form
Password & enter the details as prompted by bearing the stamp and sign of the entity
the system. should be emailed to helpdesk.evoting@
(xviii) Shareholders can also cast their vote using cdslindia.com.
CDSL’s mobile app m-Voting available for • After receiving the login details they have
android based mobiles. The m-Voting app can to create compliance user using the admin
be downloaded from Google Play Store. Apple login and password. The Compliance user
and Windows phone users can download the would be able to link the account(s) for
app from the App Store and the Windows which they wish to vote on.
Phone Store respectively on or after 30th
• The list of accounts should be mailed to
June 2016. Please follow the instructions as
helpdesk.evoting@cdslindia.com and on
prompted by the mobile app while voting on
approval of the accounts they would be
your mobile.
able to cast their vote.
(xix) Note for Institutional Shareholders : • A scanned copy of the Board Resolution
• Institutional shareholders (i.e. other than and Power of Attorney (POA) which they
Individuals, HUF, NRI etc.) are required to have issued in favour of the Custodian, if
log on to https:/www.evotingindia.com any, should be uploaded in PDF format in
the system for the scrutinizer to verify the same.

(xx) In case you have any queries or issues regarding e-voting, you may refer the Frequently Asked Questions
(“FAQs”) and e-voting manual available at www.evotingindia.com under help section or write an email to
helpdesk.evoting@cdslindia.com.
(xxi) The Scrutinizer will submit his report on 01/10/2016 before 1.00 P M and the result will be announced on
01/10/2016 before 2.00 P M by any Director authorized by the Chairman of the Company. The result will
be placed on the website of the Company www.dil-india.com and the website of CDSL and communicated
to Calcutta Stock Exchange Limited where the equity shares of the Company are listed.
ANNEXURE TO THE NOTICE
EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013.
Item No. 5
The books of accounts of the Company pertaining to branches of the Company New Allenberry Works, located
at Kolkata, Faridabad, and Rudrapur are being audited by the branch auditors M/s. Salarpuria Jajodia & Co.,
other than the statutory auditors of the Company. It is proposed to re-appoint M/s. Salarpuria Jajodia & Co.,
Chartered Accountants, as branch auditors to audit the books of Accounts of New Allenberry Works,. The Board,
therefore, recommends that as required under section 143(8) of the Companies Act, 2013, the members of the
Company approve the resolution as ordinary resolution.
None of the director and Key Managerial Personnel of the company and their relatives are concerned or
interested financially or otherwise in this resolution.
Item No. 6
Under the provisions of section 148(3) of the Companies Act, 2013 read with rule 14 of the Cos (Audit &
Auditors) rules, 2014 the remuneration of the cost auditors is required to be ratified by the shareholders of the
Company and your directors recommend the resolutions for approval of the members by Ordinary resolutions.
None of the Directors and Key Management Personnel of the Company and their relatives are concerned or
interested in this resolution financially or otherwise.
Item No. 7
The Company is intending to sell the 5 MW solar power plant/unit to Deepak Spinners Limited (“DSL”), a related
party of the Company at a price not less than ` 20.00 crores. The aforesaid solar power plant is located at
Madhya Pradesh.
5
CIN No. L63022WB1954PLC021638
Shri Pradip Kumar Daga and Shri Yashwant Kumar Daga and their relatives are concerned or interested in the
proposed Resolution as they hold directorship in DSL and shareholding o more than 2% of the Share Capital of
DSL. None of the other directors and Key Managerial Personnel of your company or their relatives are in any way
concerned or interested financially or otherwise in the said resolution.
Item No. 8
In accordance with the provisions of Section 149 read with Schedule IV to the Act, appointment of an
Independent Director requires approval of members.
Based on the recommendations of Nomination and Remuneration Committee, the Board of Directors has
proposed that Smt. Meera Dokania, already serving as a Director on the Board of the Company, be appointed as
an Independent Director of the Company.
Smt. Meera Dokania has given a declaration to the Board that she meets the criteria of independence as
provided under section 149(6) of the Act. In the opinion of the Board. Smt. Meera Dokania fulfills the conditions
for her appointment as an Independent Director as specified in the Act and the Listing Regulations. Smt. Meera
Dokania is independent of the management and possesses appropriate skills, experience and knowledge.
Copy of the draft letter for appointment of Smt. Meera Dokania as an Independent Director setting out the
terms and conditions is available for inspection by the Members at the registered office of the Company during
normal business hours on any working day, excluding Saturday. A brief resume of Smt. Meera Dokania has been
provided in the Annexure to this Notice.
Save and except Smt. Meera Dokania and her relatives, to the extent of their shareholding interest, if any, in the
Company, none of the Directors or Promoter or KMP or their relatives, either directly or indirectly is any way
concerned or interested in the above resolution.
The Board commends the ordinary resolution as set out at item no. 8 of the notice for approval by the Members.
By Order of the Board
Place: Kolkata V D MALL

Date : 10th August, 2016. Company Secretary
6
Details of Director seeking appoinment / re-appointment at the ensuring Annual General Meeting fixed
on 29th September, 2016 as required under regulation 36(3) of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 are given hereunder :
Name of the Director Shri Yashwant Kumar Daga Smt Meera Dokania
Date of Birth 07/03/1961 24/06/1953
Date of Appointment 15/11/2014 01/04/2015
Qualification B. Com. , (Hons) B.A.
Experience in specific Tea, Spinning, Engineering and Solar and Hydro Social Activities of Upliftment
functional areas Power of Tribal Community
Directorship in other 1) Merlin Holdings Private Limited NIL
Companies 2) H G I Industries Limited
3) Narsingh Holdings Private Limited
4) Deepak Gears Limited
5) Contransys Private Limited
6) Solding Hydrowatt Private Limited
7) Brua Hydrowatt Private Limited
8) Mint Investments Limited
9) Deepak Spinners Limited
10) The Oudh Sugar Mills Limited
11) Longview Tea Company Limited
12) Merlin International Limited
Chairmanship / Deepak Spinners Limited (Member in Nomination NIL
Membership/of & Remuneration Committee, Stakeholders
Committees of Other Relationship Committee and Audit Committee
Public Companies and Chairman in CSR Committee)
(Only Audit Committee The Oudh Sugar Mills Limited Member In
and Stakeholders CSR Committee, Stakeholders Relationship
Relationship Committee, Risk Management Committee and
Committee considered) Audit Committee)
Mint Investments Limited (Member in

Nomination & Remuneration Committee,
Stakeholders Relationship Committee and Audit
Committee )
H G I Industries Limited (Member in Nomination
& Remuneration Committee, Stakeholders
Relationship Committee and Audit Committee)
Longview Tea Company Limited (Member in
Nomination & Remuneration Committee, and
Stakeholders Relationship Committee )
Shareholding in the 316088 NIL
Company
Relationship with other Son of Shri Pradip Kumar Daga, CMD NIL
directors
7
NOTES
CIN No. L63022WB1954PLC021638
BOARD REPORT
TO THE MEMBERS
The Directors have pleasure in submitting their Annual report on the business and operations of the Company along with
the Audited Statement of Accounts for the year ended 31st March, 2016.
FINANCIAL RESULTS
Financial Results of the Company for the year under review are as follows :—
` in Lakhs
Particulars 31st March 2016
Profit before Finance Cost, depreciation and amortization & Tax 5279.96
Less : Finance Cost 1226.06
Depreciation and Amortization 2108.51
Profit before Tax 1945.39
Current Tax 690.90
Taxation related to earlier years -
Deferred Tax (368.17)
Total Tax 322.73
Profit for the year after tax carried forward 1622.66
Basic and diluted earnings per share (`) 32.09
DIVIDEND REC market remained near dormant.

Your Company has declared interim dividend for the ISSUE OF CAPITAL AND BUY BACK OF SHARES
financial year 2015-16 @ ` 40/- per share which has been There has been no issue of capital by the Company during
duly paid to the shareholders of the Company as on the the year.
record date for the purpose within the prescribed date. No
final dividend has been recommended by the Board. In order to reward the shareholders by return of the
accumulated cash, your company initiated the process of
REVIEW OF OPERATIONS buy back of the 3973500 Equity Share of `10/- each in the
Revenues with other income for financial year ended 31st Company at an offer price of `300/- per share including
March, 2016 stood at ` 31727.99 lacs, profit before finance premium of `290/- per share as per the SEBI (Buy back
cost depreciation and amortization, and tax, ` 5279.96 of Securities) Regulations, 1998 upon the approval of
lacs, and profit after tax for the year was ` 1622.66 lacs. the Board of Directors, Shareholders of the Company
During the year under review, the demand for all industrial and SEBI. Under this process, the Company bought back
products was generally subdued in view of lower capex 242032 Equity Shares and the Buy back of the Shares has
by most Industries. The rural sector also suffered from been completed on 03/03/2016. The Change in the paid
drought resulting in lower demand for agricultural up capital in the current year is due to the said buy back.
equipment. The replacement market displayed similar DIRECTORS
characteristics. With competition more severe than Shri Yashwant Kumar Daga, VCJMD, is liable to retire
before, there has been sharp erosion of profitability. The by rotation and being eligible offers himself for re-
present government’s active efforts towards reviving appointment. Your Directors recommend his re-
the infrastructure and agricultural sectors is expected to appointment.
provide a much needed boost to the entire manufacturing
segment of our economy. Your company has continued BOARD EVALUATION
its planned capacity enhancement albeit at a slower pace Pursuant to the Provisions of the Companies Act, 2013
in order to conserve resources and to capitalise on the the Board has carried out an annual evaluation of its
increased demand in coming months. own performance, the directors individually, that of its
Generation of solar plant was satisfactory although the committees and individual directors. At the meeting of
2
the Board all the relevant factors that were material for Cost Audit for the year 2015-16 is under progress.
evaluating the performance were discussed in detail. SECRETARIAL AUDIT AND THE APPOINTMENT OF THE
The Independent directors of the Company in its SECRETARIAL AUDITORS
separate meeting reviewed the performance of the The Company has appointed Binay Kumar Pandey,
Non-independent directors and the Board as a whole, Company Secretaries (C P No. 12074) to hold the office
performance of the chairperson of the company taking of the Secretarial Auditors and to conduct the Secretarial
into account the views of the executive directors and non- Audit for the year 2016-17. Secretarial Audit Report for
executive directors and assessed the quality, quantity and the year 2015-16 is being annexed with this report. The
timeliness of flow of information between the Company Secretarial Audit report does not contain any reservation,
management and the Board that is necessary for the qualification or adverse remark. A copy of the report is
Board to effectively and reasonably perform their duties. annexed herewith as Annexure-I.
As per the requirement of the Companies Act, 2013 and
AUDIT COMMITTEE AND RISK MANAGEMENT
regulation 17(10) of SEBI(LODR) Regulations, 2015, the
performance evaluation of Independent directors was The Audit Committee of the Company was constituted
done by the entire Board of Directors as per the procedure. by Board. The Committee comprised Shri Anand Prasad
Agarwalla, as Chairman, Shri Yashwant Kumar Daga and
BOARD MEETINGS
Shri Suresh Chand Mohta as Members. The Company
During the year six Board meetings were held. The details Secretary is the Secretary of the Committee. During the
thereof are given in the Corporate Governance Report. year, there were no instances where the Board had not
The intervening gap between the Meetings was within the accepted the recommendations of the Audit Committee.
period prescribed under the Companies Act, 2013. The details of the vigil mechanism are also available on the
AUDITORS AND THEIR REPORT Company’s website www.dil-india.com in the Investors
Relation section.
M/s. Singhi & Co., Chartered Accountants (Firm Registration
NO. 302049E), Kolkata retire at the forthcoming Annual The Audit Committee has also been delegated the
General Meeting of the company and being eligible offer responsibility for monitoring and reviewing risk
themselves for re-appointment. Salarpuria Jajodia & Co., management, assessment and minimization procedures,
(Firm’s Registration No. 302111E) are the Branch auditors developing, implementing and monitoring the risk
of the company. The Company has received a certificate management plan and identifying, reviewing and
from the auditors to the effect that their re-appointment mitigating all elements of risk which the Company may
if made, would be in accordance with the provisions be exposed to. A risk matrix has been adopted and
of section 141 of the Companies Act, 2013. The Board approved by the Board on the recommendation of the
recommends their re-appointment in the forthcoming Audit Committee for observation by the executives of the
annual general meeting. Company.
The Auditors’ Report to the Shareholders does not contain DEPOSITS
any reservations, qualification or adverse remarks. The Company has not accepted Deposit from the members
COST AUDITORS AND THEIR REPORT or the general Public during the year. There are no
outstanding deposits in terms of Companies (Acceptance
Pursuant to the directives of the Central Government of Deposits) Rules, 2014.
under the provisions of 148 of the Companies Act, 2013,
SPK Associates, Cost Accountants, (Firm Registration DIRECTORS’ RESPONSIBILITY STATEMENT
No.000040) Kolkata, has been appointed to conduct the In accordance with the provisions of section 134(5) the
cost audit relating to the eligible products under central Board confirms and submits the Directors’ Responsibility
excise tariff 8483, manufactured by the Company and Statement:—
the Solar Power Generation for the year 2016-17. The
(a) in the preparation of the annual accounts, the
Company has received a certificate from the cost auditors
applicable accounting standards have been followed
to the effect that their appointment is in accordance with
along with proper explanation relating to material
the provisions of section 141 of the Companies Act, 2013.
departures;
Cost Audit report for the year 2014-15 will not be filed
(b) the directors have selected such accounting policies
since there has been no notification for the Cost audit for
and applied them consistently and made judgments
the said year.
3
CIN No. L63022WB1954PLC021638
and estimates that are reasonable and prudent so as constituted and presently the members of the Committee
to give a true and fair view of the state of affairs of are Shri Anand Prasad Agarwalla, as Chairman, Shri Sujit
the company at the end of the financial year and of Chakravorti and Shri Suresh Chand Mohta as Members.
the profit and loss of the company for that period; The Company’s Remuneration Policy is annexed as
(c) the directors have taken proper and sufficient Annexure-IV and forms part of this report.
care for the maintenance of adequate accounting RELATED PARTY TRANSACTIONS
records in accordance with the provisions of the
Act for safeguarding the assets of the company All transaction entered into with related parties as defined
and for preventing and detecting fraud and other under the Companies Act, 2013 and clause 49 of the
irregularities; Listing Agreement/SEBI(LODR) Regulations, 2015 during
(d) the directors have prepared the annual accounts on the financial year were in the ordinary course of business
a going concern basis; and on an arm’s length pricing basis and do not attract the
provisions of the Section 188 of the Companies Act, 2013.
(e) the directors have laid down internal financial There were no materially significant transactions with the
controls to be followed by the company and that related parties during the financial year which were in
such internal financial controls are adequate and
conflict with the interest of the Company and hence form
were operating effectively; and
AOC-2 is not required. Suitable disclosure as required by
(f) the directors have devised proper systems to ensure the Accounting standard (As 18) has been made in the
compliance with the provisions of all applicable laws notes to the Financial Statement.
and that such systems were adequate and operating
effectively. All Related Party Transactions are placed before the
Audit Committee. Prior omnibus approval of the Audit
KEY MANAGERIAL PERSONNEL Committee is obtained on a yearly and quarterly basis of
Shri Maneesh Khanna is Chief Financial Officer of the the transactions which are of a foreseen and repetitive
Company. Shri Vithal Das Mall, company Secretary Shri nature. Statement giving details of all related party
Yashwant Kumar Daga, VCJMD and Shri Pradip Kumar transactions is placed before the Audit Committee for
Daga, Chairman-cum-Managing Director are also Key their approval on a quarterly basis.
Managerial Personnel of the company. There was no
change in the Key Managerial Personnel during the year. The Policy of the Related Party Transactions as approved
by the Board is uploaded on the Company’s website www.
CORPORATE GOVERNANCE dil-india.com in the Investors Relation section.
Your Company is committed to good Corporate Governance
None of the Directors and Senior Management Personnel
Practices and following the guidelines prescribed by the
SEBI (LODR) regulations, 2015 from time to time, the have any pecuniary relationship or transactions vis-à-vis
Company has implemented all of its major stipulations as the Company.
applicable to the Company. The report on the Corporate Shri Anand Prasad Agarwalla, Director of the company is
Governance for the year 2015-16 and Practicing Company an advocate and provides legal services required by the
Certificate are annexed as Annexure-II to and form part of Company from time to time. The transactions with the
this Report. said director and his advocate son for legal services are on
CORPORATE SOCIAL RESPONSIBILITY arm’s length basis and in the ordinary course of business.
The Company is committed to discharging its social SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE
responsibility as a good corporate citizen. However, no REGULATORS OR COURTS
programme for the same could be undertaken by the
Company in this respect due to certain clarification on There are no significant material orders passed by the
methodological working for the same through Trust and in Regulators/Courts which would impact the going concern
collaboration with other company etc. The CSR policy has status of the Company and its future operations.
been framed and hosted on the website of the Company DECLARATION BY INDEPENDENT DIRECTORS
www.dil-india.com in the Investors Relation section.
Annual report on the CSR activities as per the prescribed Necessary declarations have been obtained from all the
format is annexed as Annexure-III and forms part of the Independent/Directors under sub-section (6) of Section
report. 149 of the Companies Act, 2013.
NOMINATION AND REMUNERATION COMMITTEE LOANS AND INVESTMENTS
A Nomination and Remuneration Committee has been The company has not given any loan and Investments
4
made by the Company is stated in the Annual Accounts of 31/03/2016 is annexed as Annexure-VIII with this Report.
the company. CASH FLOW ANALYSIS
INTERNAL FINANCIAL CONTROL In conformity with the provisions of the Companies
The Company has in place internal financial control Act, 2015, the Cash Flow Statement for the year ended
systems, commensurate with the size and complexity 31/03/2016 is annexed hereto.
of its operation to ensure proper recording of financial PERSONNEL
and operational information and compliance of various
internal controls and other regulatory and statutory The Company continued to have cordial relations with its
compliances. The internal auditor monitors and evaluates employees.
the efficacy and adequacy of internal control systems in ACKNOWLEDGEMENT
the Company. Based on the report of the internal auditor,
Your Directors place on record their appreciation for
respective departments undertake corrective actions in
the overwhelming co-operation and assistance received
their respective areas and thereby strengthen the controls.
from Investors, customers, business associates, bankers,
PARTICULARS OF EMPLOYEES vendors, as well as regulatory and governmental
Disclosure pursuant to Rule 5(1) and 5(2) of the Companies authorities. Your Directors also thank the employees at
(Appointment & Appointment of Managerial Personnel) all levels, who, through their dedication, co-operation,
Rules, 2014 is annexed as Annexure-V and forms part of support and smart work have enabled the Company to
this report. achieve rapid growth.
MANAGEMENT DISCUSSION AND ANALYSIS CAUTIONARY STATEMENT
A Management discussion and Analysis as required Statements in the Board Report and Management
under the SEBI(LODR) Regulations, 2015 is annexed as Discussion & Analysis describing the Company’s
Annexure-VI and forms part of this Report. objectives, expectations or forecasts may be forward-
looking within the meaning of the applicable securities
CONSERVATION OF ENERGY, RESEARCH AND DEVELOP- laws and regulations. Actual results may differ materially
MENT, TECHNOLOGY ABSORPTIONS AND FOREIGN from those expressed in the statement. Important factors
EXCHANGE EARNINGS AND OUTGO that could influence the Company’s operations include
The information pertaining to conservation of energy, global and domestic demand and supply conditions
technology absorption, foreign exchange earnings and affecting selling prices of finished goods, input availability
outgo, as required under the Companies Act, 2013, read and prices, changes in government regulations, tax laws,
with the Companies (Accounts) Rules 2014 is annexed as economic developments within the country and other
Annexure-VII and forms part of this Report. factors such as litigation and industrial relations.
ABSTRACT OF THE ANNUAL RETURN
The Abstract of the Annual Return for the year ended
For and on behalf of the Board
Pradip Kumar Daga (DIN : 00040692)

Chairman-cum-Managing Director
Yashwant Kumar Daga (DIN : 00040632)
Vice Chairman-cum-Joint Managing Director
Sujit Chakravorti (DIN : 00066344)
Anand Prasad Agarwalla (DIN : 003122652)
Suresh Chand Mohta (DIN : 00066305)
Place: Kolkata Meera Dokania (DIN : 07094376)
Dated: 28/05/2016 Directors
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CIN No. L63022WB1954PLC021638
ANNEXURE - I
CS BINAY KUMAR PANDEY M/s. B K P & ASSOCIATES

Practising Company Secretary Company Secretaries
72/1, Topsia Road South
Kolkata - 700 046
To,
The Members,
16, Hare Street,
Kolkata 700 001
Our report of even date is to be read along with this letter.

1. Maintenance of secretarial record is the responsibility of the management of the Company. Our responsibility is to
express as opinion on these secretarial records based on out audit.
2. We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about
the correctness of the contents of the Secretarial records. The verification was done on test basis to ensure that
correct facts are reflected in secretarial records. We believe that the processes and practices, we followed provide a
reasonable basis for our opinion.
3. We have not verified the correctness and appropriateness of financial records and Books of Accounts of the company.
4. Wherever required. We have obtained the management representation about the compliance of laws,rules and
regulations and happening of events etc.
5. The compliance of the provisions of corporate and other applicable laws, rules, regulations, standards is the
responsibility of management. Our examination was limited to verification of procedures on test basis.
6. The secretarial Audit report is neither an assurance as to the future viability of the Company nor of the efficacy or
effectiveness with which the management has conducted the affairs of the Company.
For B K P & ASSOCIATES

Company Secretaries
(CS Binay Kumar Pandey, ACS)

Place: Kolkata Membership No. 32458
Dated: 28th May, 2016. C.P. No. 12074
6
SECRETARIAL AUDIT REPORT

FOR THE FINANCIAL YEAR ENDED 31ST MARCH, 2016
[Pursuant to section 204(1) of the Companies Act, 2013 and rule No. 9 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014]
To,
The Members,
16, Hare Street,
Kolkata 700 001
We have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to
good corporate practices by Deepak Industries Limited. Secretarial Audit was conducted in a manner that provided us a
reasonable basis for evaluating the corporate conducts/statutory practices and expressing our opinion thereon.
Based on our verification of the Deepak Industries Limited’s books, papers, minute books, forms and returns filed and
other records maintained by the Company and also the information provided by the Company, its officers, agents and
authorized representation during the conduct of secretarial audit, we hereby report that in our opinion, the Company
has, during the audit period covering the financial year ended on 31st March, 2016 complied with the statutory provisions
listed hereunder and also that the Company has proper Board-processes and compliance-mechanism in place to the
extent, in the manner and subject to the reporting made hereinafter :
We have examined the books, papers, minute books, forms and returns filed and other records maintained by the
Company for the financial year ended on 31st March, 2016 according to the provisions of :
(i) The Companies Act, 2013 (the Act) and the rules made there under;
(ii) The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made there under
(iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed there under;
(iv) Foreign Exchange Management Act, 1999 and the rules and regulations made there under to the extent of import
and export of goods and services;
(v) The following regulations and guidelines prescribed under the Securities and Exchange Board of India Act, 1992
(‘SEBI Act’) :-
a. The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations.
2011;
b. The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992;
c. The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009;
d. The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements Regulations,
2015;
e. The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998;
f. The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993
regarding the Companies Act and dealing with client;
The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992
(SEBI Act) are not applicable to the Company for the financial year ended March 31, 2016.
a) The Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase
Scheme) Guidelines, 1999;
(b) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008;
(c) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009;
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CIN No. L63022WB1954PLC021638
(vi) Other laws as mentioned in the Annexure attached herewith and as may be applicable to the company.
We have also examined the compliance with the applicable clauses of the following :
(a) Secretarial Standards issued by the Institute of Company Secretaries of India.
(b) The Listing Agreements entered into by the Company with the Calcutta Stock Exchange Limited; During the
period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines,
Standards, etc. mentioned above.
We further report that –
The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non–Executive
Directors and Independent Directors. The Company has appointed a woman director during the year. The changes in the
composition of the Board of Directors that took place during the period under review were carried out in compliance with
the provisions of the Act.
Adequate notice is given to all Directors to schedule the Board Meetings, agenda and detailed notes on agenda were sent
at least seven days in advance. and a system exists for seeking and obtaining further information and clarifications on the
agenda items before the meeting and for meaningful participation at the meeting.
Majority decision is carried through while the dissenting members’ views are captured and recorded as part of the
minutes. We have however not observed any dissenting member’s views.
We further report that there are adequate systems and processes in the Company commensurate with the size and
operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines.
We further report that during the audit period the Company has –
(a) not allotted any share or other securities during the period.
(b) bought back its 242032 equity shares during the year resulting in increase in Promoters’ aggregate shareholding
to 77.13%. The Board of Directors however is considering various alternatives to bring down the said shareholding
within the permissible limit of 75% within the period as prescribed by SEBI.
(c) not altered the provisions of the Memorandum of Association or the Articles of Association.
(d) not taken any major decision except enabling resolutions passed in the last Annual General Meeting held on
29/09/2015 u/s 94 for keeping the Register of Members, Debenture holders, and copies of Annual Returns of
the Company at the office of the Company’s Registrars and Share Transfer Agents; and u/s 197 for payment of
commission to directors other than the Managing Directors and those in whole time employment of the Company
subject to the limits as prescribed under the Act.
(e) no merger/amalgamation/reconstruction etc.
(f) no foreign technical collaborations.
For B K P & ASSOCIATES

Company Secretaries
(CS Binay Kumar Pandey, ACS)

Place: Kolkata Membership No. 32458
Dated: 28th May, 2016. C.P. No. 12074
8
Annexure
LIST OF OTHER APPLICABLE LAWS
1. Air (Prevention and Control of Pollution) Act, 1981

2. Apprentices Act, 1961
3. Consumer Protection Act, 1986
4. Indian Contract Act, 1872
5. Employees’ Provident Funds and Miscellaneous Provisions Act, 1952
6. Employees’ State Insurance Act, 1948
7. Environment Protection Act, 1986
8. Factories Act, 1948
9. Industrial Disputes Act, 1947
10. Industrial Employment (Standing Orders) Act, 1946
11. Industries (Development and Regulation) Act, 1951
12. Maternity Benefit Act, 1961
13. Minimum Wages Act, 1948
14. Negotiable Instruments Act, 1881
15. Payment of Bonus Act, 1965
16. Payment of Gratuity Act, 1972
17. Payment of Wages Act, 1936
18. Registration Act, 1908
19. Sale of Goods Act, 1930
20. Water (Prevention and Control of Pollution) Act, 1974
21. Workmen’s Compensation Act, 1923
22. Income-Tax Act, 1961
23. The Companies Act, 2013
24. The Central Excise Act, 1944
25. The Customs Act, 1962
26. The Motor Vehicles Act, 1988
27. Boiler Act, 1923
28. Shops and Establishment Act, VAT Act, Entry Tax Act, Profession Tax Act, and other Commercial Acts of respective
states.
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CIN No. L63022WB1954PLC021638
ANNEXURE - II
REPORT ON THE CORPORATE GOVERNANCE
FOR THE YEAR ENDED 31ST MARCH, 2016
COMPANY’S PHILOSOPHY ON CODE OF CORPORATE GOVERNANCE
As a corporate policy, your Company believes in transparency and good Corporate Governance practice.
(I) BOARD OF DIRECTORS
COMPOSITION, OUTSIDE DIRECTORSHIPS, AND ATTENDANCE AT THE BOARD MEETING
As on 31/03/2016, the Board of the Company comprises of an Executive Chairman and Executive Vice Chairman fifty
percent of the Directors being independent Directors.
Name of Director Category Directorship in other No of Committees No of

Companies* Membership(s)/Chairmanship(s) Shares
in Board Committees of other held in the
Companies@ Company
As a As a Chairman/ As a Member As a Chairman
Director Chairman cum
Managing
Director*
Shri Pradip Kumar Promoter Non- 3 1 (Chairman-Cum- 4 Nil 187860
Daga, Chairman-cum- Independent and Managing Director)
Managing Director Executive Director
Shri Yashwant Kumar Promoter Non- 11 Nil 9 Nil 316088
Daga Independent and
Executive Director
Shri Sujit Chakravorti Independent Non- 3 2 (Chairman) 1 3 Nil
Executive Director
Shri Anand Prasad Independent Non- Nil Nil Nil Nil Nil
Agarwalla Executive Director
Shri Suresh Chand Independent Non- Nil Nil Nil Nil Nil
Mohta Executive Director
Smt Meera Dokania Non-Independent Nil Nil Nil Nil Nil
and Non-Executive
Director
*Excludes alternate Directorship, Directorship in foreign Companies and Companies formed under section 8 of the
Companies Act, 2013.
@Committee positions only of Audit Committee and Stakeholders Relationship Committee in Public Companies
have been considered.
Membership of the directors in various Committees are within the permissible limits of the Listing Agreements.
Shri Yashwant Kumar Daga is son of Shri Pradip Kumar Daga.
BOARD MEETINGS
Dates for the Board meeting are decided well in advance and communicated to the Directors. The Agenda along
with the notes are sent at least seven days in advance to the each Board Members.
The Board of Directors met six times during the year respectively on 28/05/2015, 03/07/2015, 12/08/2015,
14/11/2015, 12/02/2016. and 11/03/2016.
10
Name of the Director No. of Board Meeting Attended Attended last AGM
Shri Pradip Kumar Daga 4 Yes
Shri Yashwant Kumar Daga 6 Yes
Shri Sujit Chakravorti 5 Yes
Shri Anand Prasad Agarwalla 6 Yes
Shri Suresh Chand Mohta 6 Yes
Smt Meera Dokania 6 Yes
Shareholding of the non-executive Directors in the Company as on 31st March, 2016 :-
Name of the Director No of equity shares held as on 31st March, 2016

Shri Sujit Chakravorti Nil
Shri Anand Prasad Agarwalla Nil
Shri Suresh Chand Mohta Nil
Smt Meera Dokania NIL
The information as required under Annexure X to clause 49 of the listing agreement and SEBI (LODR), Regulations,
2015 being made available to the Board. The Board periodically reviews compliance Report of all laws applicable to
the Company. Steps are taken by the Company to rectify instances of non-compliance, if any.
The Company has adopted Code of Conduct and Ethics for Directors and Senior Management Personnel of the
Company. The said code of conduct is available on the website of company in the Investors Relations section.
The Company has received confirmations from the Directors as well as Senior Management Personnel regarding
Compliance of Code of Conduct and Ethics during the year under review. In addition to this a separate code of
conduct for dealing in equity shares in the Company is also in place and has been complied with.
Shri Yashwant Kumar Daga, Vice Chairman-cum-Joint Managing Director has given a certificate to the Board of
Directors in pursuance of Clause 49 of the Listing Agreement with the Stock Exchanges/SEBI(LODR) Regulations,
2015.
DECLARATION BY THE CEO UNDER CLAUSE 49 OF THE LISTING AGREEMENT REGARDING ADHERENCE OF THE
CODE OF CONDUCT.
In accordance with SEBI(LODR) Regulations 2015, I hereby confirm that all the Directors and the Senior
Management personnel of Deepak Industries Limited have affirmed compliance to Code of Conduct and Ethics
for the Financial Year ended 31.03.2016.
Yashwant Kumar Daga
Kolkata, 28/05/2016. Chairman-cum-Managing Director
(II) AUDIT COMMITTEE

The Audit Committee comprises of three Directors, namely Shri Anand Prasad Agarwalla, Chairman, Shri Yashwant
Kumar Daga, VCJMD, and Shri S C Mohta, as Members. The Members have adequate knowledge of accounts and
financial matters. The Secretary of the Company acts as a Secretary of the Committee.
The terms of reference of the Audit Committee are in conformity with the requirements as per clause 49 of the
listing agreement with the Stock Exchange SEBI (LODR) regulations, 2015 and the Companies Act, 2013. The audit
committee inter-alia reviews annual and quarterly financial statements, accounting policies, system of internal
controls, reports of internal auditors, Related party transactions, recommend the appointment of statutory auditors,
internal auditors, appointment of Chief Financial Officer, and ensuring of compliance with stock exchanges and other
legal requirements.
The Audit Committee met four times during the year respectively on 28/05/2015, 12/08/2015, 14/11/2015 and
12/02/2016. The attendance of each members of the committee is given below. Statutory and Internal Auditors also
11
CIN No. L63022WB1954PLC021638
try to attend the Meeting on the invitation of the Chairman of the meeting.
Name of the Member No of Meetings held No of Meetings attended

Shri A.P. Agarwalla 4 4
Shri Yashwant Kumar Daga 4 4
Shri Suresh Chand Mohta 4 4
(III) NOMINATION AND REMUNERATION COMMITTEE
The Nomination and Remuneration Committee comprises of three Directors, namely Shri Anand Prasad Agarwalla,
Chairman, Shri Sujit Chakravorti, and Shri S C Mohta, as Members.
The terms of reference of the Nomination and Remuneration Committee are in conformity with the requirements as
per clause 49 of the listing agreement with the Stock Exchange/SEBI (LODR) Regulations, 2015 and the Companies
Act, 2013. The Nomination and Remuneration committee inter-alia formulates the criteria for determining
qualification, positive attributes and independence of a director and recommend to the Board a policy, relating
to the remuneration for the directors, key managerial personnel and other employees, identify persons who are
qualified to become directors and who may be appointed in senior management in accordance with the criteria
laid down, recommend to the Board their appointment and removal and shall carry evaluation of every director’s
performance.
The Nomination and Remuneration Committee met one time during the year on 28/05/2015. The attendance of
each members of the committee is given below.
Name of the Member No of Meetings held No of Meetings attended

Shri A.P. Agarwalla 1 1
Shri S. Chakravorti 1 1
Shri S.C Mohta 1 1
The Remuneration policy of the Company is annexed with the Directors’ report which may please be referred to.
Chairman of the Nomination and Remuneration Committee attended the last AGM.
(IV) DETAILS OF REMUNERATION PAID TO DIRECTORS (01/04/2015 to 31/03/2016)
The Executive Chairman-cum-Managing director and Executive Vice-Chairman-cum-Joint Managing Director is paid
remuneration approved by the Board and shareholders and other directors are paid sitting fees for attending the
meetings of the Board and Committee and commission approved by the Board of Directors from time to time.
Name of Director `
Shri Pradip Kumar Daga, 64,51,200 As Executive

Chairman-cum- Compensation
Managing Director consisting of Salary
and perquisites in the
nature of employer’ s
contribution to PF
Shri Yashwant Kumar 59,13,600
Daga, (Vice-Chairman-
cum-Joint Managing
Director effective from
15/11/2014)
12
`.
Name of Director Sitting Fees Commission paid
during the year (For
Board Audit Stakeholders Nomination Corporate
the Financial year
Meeting Committee relationship and Social
2014-15)
Meeting committee Remuneration Responsibility
Committee Committee
Smt. Meera Dokania 54,000 – – – – –
Shri A.P. Agarwalla 54,000 8,000 4,000 2,000 2,000 2,00,000
Shri S. Chakravorti 44,000 – 4,000 2,000 2,000 2,00,000
Shri S.C Mohta 54,000 8,000 4,000 2,000 – 2,00,000
During the year the Company has paid `12500/- as professional fees to Shri Anand Prasad Agarwalla, Advocate,
Director of the Company and Rs. nil to his son Shri Niraj Agarwalla, Advocate,. The payments to them were at arm’s
length price and in the ordinary course of business. There were no other than above pecuniary relationships or
transactions of the Executive and Non -Executive directors vis-a-vis the Company.
(V) CORPORATE SOCIAL RESPONSIBILITY (CSR) COMMITTEE
The Board of Directors of the Company have constituted a Corporate Social Responsibility (CSR) Committee of the
Board comprising three directors Shri Pradip Kumar Daga, Chairman, Shri Anand Prasad Agarwalla, and Shri Sujit
Chakravorti. The Committee held meeting on 12/02/2016 in which all the committee members were present. The
Board on the recommendation of the Committee has framed a CSR policy which has been hosted on the company
website at www.dil-india.com in the Investors Relation section.
(VI) STAKEHOLDERS RELATIONSHIP COMMITTEE
The committee comprises of three non-executive Directors namely, Shri S.C. Mohta, Chairman Shri Sujit Chakravorti,
Shri A.P. Agarwalla as Members and. Shri Vithal Das Mall, Secretary of the Company acts as the secretary of the
committee. The Compliance officer of the Company is Shri Vithal Das Mall, Company Secretary. The committee
deals with the shareholder’s complaints and grievance etc. As per the Certificates furnished by the Registrar & Share
Transfer Agents M/S Maheshwari Datamatics Private Limited, the Company did not receive any Investors complaints
during the year ended 31st March, 2016 and there are no pending complaints as on 31st March, 2016.
The committee met two times during the year on 03/07/2015 and 12/02/2016 in which all the Committee members
were present.
(VII) MEETING OF THE INDEPENDENT DIRECTORS
One separate meeting of the independent directors was held on 12/03/2016 in which all the independent directors
were present to review the performance of the non-independent directors and the Board as a whole with the
performance of the chairman of the company and also to assess the quality, quantity and timeliness of flow of
information between the Company management and the Board as per para VII of schedule IV of the Companies Act,
2013.
(VIII) SHARE TRANSFER SYSTEM
Share transfers documents are registered and certificate returned within prescribed time from the date of receipt
if the documents are clear in all respects as per provisions of listing agreement. The transfers are approved by the
secretary/Director of the Company in consultation with the Managing Director and/or by the Board.
There was no pending request for share transfer etc. as on 31st March, 2016.
(IX) SUBSIDIARY COMPANIES
The Company does not have any subsidiary, associate and joint venture company.
(X) FAMILARISATION PROGRAMME
The Board has framed a familiarisation programme to familiarise the independent directors their roles, rights,
responsibilities in the Company, nature of industry in which the Company operates, business model of the Company
etc. through the various programmes.
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CIN No. L63022WB1954PLC021638
The Familiarisation programmes has been disclosed on the company’s website www.dil-india.com in the Investors
Relations section.
(XI) ANNUAL GENERAL MEETINGS
Location, date and time for last three Annual General Meetings were as follows :
Year Location Date Time No. of Special Resolution Passed
2012-2013 16, Hare Street, 08/08/2013 2.30 P.M 1
Kolkata-70 0 001
2013-2014 -do- 25/09/2014 2.00 P.M 3
2014-2015 -do- 29/09/2015 2.00 P M 2
i) One Extra Ordinary General Meeting was held during the year on 24/02/2015 in which three special resolutions
were passed.
ii) Six Special resolutions were passed during last three Annual General Meetings.
AGMs
Date Special Resolution Matter

08/08/2013 Resolution under section 198,269, 309 read with schedule XIII of the Companies Act, 1956 for
appointment and payment of remuneration to Shri Pradip Kumar Daga
25/09/2014 Alteration of Articles of Association for incorporating therein new Article 98A after the existing
Article 98
25/09/2014 Resolution under section 180(1)(c) of the Companies Act, 2013 for borrowing an amount not
exceeding Rs.300 crores over and above the aggregate of the paid up capital and free reserves
of the Company.
25/09/2014 Resolution under section 180(1)(a)of the Companies Act, 2013 for creation of security upto the
amount borrowed by the Company.
29/09/2015 To Keep the Register of Members at a place other than at the registered office of the Company
under section 94 of Companies Act, 2013.
29/09/2015 Payment of Commission to Non-Executive Directors under section 197 of the Companies Act,
2013.
iii) One special resolution was passed on 29/12/2015 through the postal ballot for buy back of shares of the
Company.
iv) No special resolution is proposed to be conducted through postal ballot in the ensuing Annual General Meeting
of the Company. However, for other special resolutions, if any, in the future, the same will be decided at the
relevant time.
v) Procedure for postal ballot is as per the provisions contained in this behalf in the Companies Act, 2013 and rule
made there under namely The Companies (management and Administration) Rules, 2014 was followed.
(XII) DISCLOSURES
i) All related party transactions have been entered into the ordinary course of business and were placed
periodically before the audit committee in summary form including transactions for which omnibus approval
of the Audit Committee was taken. There were no material individual transactions with related parties which
were not in the normal course of business required to be placed before the audit committee and that may have
potential conflict with the interest of the Company at large. All individual transactions with related parties or
others were on arm’s length basis. Details of related party transactions during the year ended the 31st March,
2016 have been set out under an appropriate note in Schedule to the Annual Accounts of the Company for
the year ended 31st March, 2016.
ii) All Accounting Standards mandatorily required have been followed without exception in preparation of the
14
financial statements.
iii) Procedure for assessment of risk and its minimisation have been laid down by the Company and reviewed by
the Board. These procedures are periodically reassessed to ensure that executive management controls risks
through means of a properly defined framework.
iv) The Company has fully complied with all the requirements of regulatory authorities on Capital Markets and
consequently, no penalties/ strictures have been imposed against it during the last three years.
v) The Company has adopted a Vigil Mechanism Policy which has been put on the website of the Company
www.dil-india.com in the Investors Relations section and no personnel has been denied access to the audit
committee. Shri Vithal Das Mall, Company Secretary has been appointed Vigil Officer under the said policy.
vi) There has been no non-compliance by the Company during the year and no penalties, strictures imposed on
the company by Stock Exchange or SEBI or any statutory authority on any matter relating to the capital markets
during the last three years.
vii) Management Discussion and Analysis is a part of Annual Report.
viii) There were no material financial and commercial transactions by Senior management as defined in clause 49
of the Listing Agreement/SEBI(LODR)Regulations, 2015 where they have any personal interest that may have
a potential conflict with the interests of the Company at large requiring disclosure by them to the Board of
Directors of the Company and that the same has been confirmed by all the Senior Management.
ix) Reconciliation of Share Capital Audit is carried out by Practicing Company Secretaries on quarterly basis to
reconcile the total admitted paid-up capital with National securities Depository Limited (NSDL) and Central
Depository Services Limited (CDSL) with the total issued and paid-up capital. The reconciliation audit confirms
that the total issued and paid up capital is in agreement with the total number of shares in physical form and
total number of dematerialized shares held with NSDL and CDSL.
x) The Company has complied with all the mandatory requirement of clause 49 of the Listing Agreement/
SEBI (LODR) Regulations, 2015 e.g. Constitution of the Board, Audit Committee, Stakeholders’ Relationship
Committee, Nomination and Remuneration Committee, and a report on the Compliance report on the
Corporate Governance is submitted to the stock Exchange every quarter. The Company has not adopted the
non-mandatory requirements of the clause 49/ SEBI (LODR) Regulations, 2015.
(XIII) MEANS OF COMMUNICATION
There is no practice to send half-yearly report to each shareholder. Company is regularly publishing all its quarterly, half
yearly and yearly results in print media in English and local language Bengal leader and Dainik Lipi respectively(upto
30/05/2015) and thereafter in Financial Express and Sukhabar which are widely circulated in West Bengal as well as
Nationally.
The Company has a website www.dil-india.com to display the quarterly results and other information as required
under the listing agreement. No presentation have been made to Investors Relations/Analysts and stakeholders of
the Company.
(XIV) GENERAL SHAREHOLDERS INFORMATION
i) Date, time and venue of forthcoming AGM Will be considered in the August, 2016, Board meeting.
ii) Financial Calendar 2016-2017 (Tentative)
First unaudited Quarterly Results Middle of August, 2016
Second unaudited Quarterly Results Middle of November, 2016
Third unaudited Quarterly Results Middle of February, 2017
Audited yearly Results for the year ended 31st Before end of May, 2017
March, 2017.
iii) Annual Book Closure dates Will be considered in the August, 2016, Board meeting.
15
CIN No. L63022WB1954PLC021638
iv) Payment of Dividend The company has declared interim dividend @`40/- per
share in the Board meeting held on 11/03/2016 and no
final dividend has been proposed for the year 2015-16.
v) Listing on Stock Exchanges The Calcutta Stock Exchange Limited
vi) Annual listing fee Listing fee has been paid upto and for the year 2016-2017
vii) ISIN No. of the Company : INE 485J01016
viii) Stock Code in Calcutta Stock Exchange 10014084
(XV) MARKET PRICE DATA
There has been no trading of the Company’s share during the year on Calcutta Stock Exchange.
(XVI) REGISTRAR AND TRANSFER AGENT
The Company has appointed M/s. Maheshwari Datamatics Pvt. Ltd., Kolkata, as Registrar and Share Transfer Agent
for Company’s securities held in physical as well as in electronic mode . The address and contact details of RTA is as
below:
Maheshwari Datamatics Pvt.Ltd, 2nd floor, 6, Mangoe Lane., Kolkata – 700 001, Phone: 033-2243-5809; 2243-5029
Fax: 033-2248-4787 E-mail: mdpldc@yahoo.com Website: www.mdpl.in
(XVII) PATTERN OF SHAREHOLDING AND DISTRIBUTION (AS ON 31/03/2016)
Category No. of Shares Held % of Total Paid up Capital

Promoters & Promoters Group 3899739 77.13
Financial Institutions & Banks 142188 2.81
Bodies Corporate including clearing Member 984685 19.48
Resident Individual 29451 0.58
Mutual Funds NIL NIL
NRIs/OCBs NIL NIL
Insurance Companies NIL NIL
TOTAL 5056063 100.00
From To No of Shares % of total paid-up No of % of Total No of

held capital Shareholders Shareholders
Up to 500 3025 0.06 20 34.48
501 1000 5878 0.12 8 13.79
1001 2000 17123 0.34 13 22.42
2001 3000 6773 0.13 3 5.17
10001 Above 5023264 99.35 14 24.14
Total 5056063 100.00 58 100.00
(XVIII)DEMATERIALIZATION AND TRADING OF SHARE ON STOCK EXCHANGE
The Company is pleased to inform that shares of the Company are available for dematerialization with NSDL as well
as with CDSL. The equity shares of the Company are under compulsory demat trading for all categories of Investors
Relations. As on 31st March, 2016, 4670387 comprising 92.37% of the equity capital stood dematerialized.
The Company has not issued any GDRs / ADRs/ Warrants or any Convertible instruments, which may have likely
impact on Equity shares of the Company.
16
(XIX) PLANT LOCATION

i) 62, Hazra Road, Kolkata-700 019
ii) 14/7, Mathura Road, Faridabad (Haryana)
iii) Plot no. 62, Sector -11 , Rudrapur Dist Udham Singh Nagar, Uttranchal.
iv) Village: Rojhani, Dist: Shajapur, MP. (Solar Plant)
v) Plot No. 292, Sarve No. 75 & 80, Belur Industrial Area, Dharward, Karnataka.
vi) Village - Bhagola, Bhagola Delvi Road, Tehsil & District - Palwal - 121 102
(XX) ADDRESS FOR CORRESPONDENCE
Deepak Industries Limited, 16, Hare Street, Kolkata-700 001 Phone Nos: 033-2248-2391/2/3,Fax: 033-2248-9382
E-mail: secretary@dil-india.com website: www.dil-india.com
(XXI) NON-MANDATORY REQUIREMENT
1. The Board
The Company has an executive Chairman
2. Shareholders’ Right
Half yearly financial results including summary of the significant events in the last six months are presently, not
being sent to shareholders of the Company.
3. Audit Qualification
There are no qualification in the Auditor’s report on the financial statements to the Shareholders of the
Company.
4. Separate Post for Chairman and CEO
Presently, the Company has a executive Chairman.
5. Reporting of Internal Auditor
Internal Auditors are invited to the meeting of Audit Committee wherein they interact directly with the
Committee.
(XXII) CEO AND CFO CERTIFICATION
The Chairman-cum-Managing Director, that is, the Chief Executive Officer (CEO) and CFO gives the annual
certification on the financial reporting and internal controls to the Board in terms of SEBI(LODR) Regulations, 2015.
The CEO and CFO also give quarterly certification on the financial results while placing the financial results before
the Board in terms of SEBI(LODR) Regulations, 2015.
The Board of Directors at their Meeting held on 28th May 2016 adopted the above Report.
17
CIN No. L63022WB1954PLC021638
CERTIFICATE ON CORPORATE GOVERNANCE

The Members,
Deepak Industries Ltd,
16, Hare Street,
Kolkata 700 001
We have examined the compliance of the conditions of Corporate Governance of M/S Deepak Industries Limited of
16, Hare Street, Kolkata 700001 for the year ended on 31st March, 2016, as stipulated Clause 49 of the Listing Agreement
{‘Listing Agreements’) of the Company with the Stock Exchange for the period 01/04/2015 to 30/11/2015 and as per the
relevant Provisions of SEBI (Listing Obligations and Disclosure Requirements “LODR”) Regulations, 2015 as referred in
Regulation 15(2) of the said Listing Regulations for the period 01/12/2015 to 31/03/2016.
The Compliance of the conditions of Corporate Governance is the responsibility of the Management. Our examination
is limited to the procedure and implementation thereof adopted by the Company for ensuring the Compliance of the
conditions of the Corporate Governance. It is neither an audit nor an expression of the opinion on the financial statement
of the Company.
In our opinion and to the best of our information and explanation given to us, which to the best of our knowledge & belief
were necessary for the purpose of issuance of this certificate, we hereby certify that the Company has complied with the
conditions of Corporate Governance as stipulated in the above mentioned in Listing Agreement / Listing Regulations as
applicable.
We further state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency
or effectiveness with which the Management has conducted the affairs of the Company.
For Drolia & Company

Company Secretaries
Place : 9, Crooked Lane Pravin Kumar Drolia

Kolkata 700069 Proprietor
Date : 28th May, 2016 CP 1362
18
ANNEXURE - III
FORMAT FOR THE ANNUAL REPORT ON CSR ACTIVITIES
TO BE INCLUDED IN THE BOARD’S REPORT
1. A brief outline of the Company’s CSR policy, including overview of projects or programs to be undertake and a
reference to the web-link to the CSR Policy and Projects or programs.
The Company has formulated a Corporate Social Responsibility (CSR) Policy stated in the link mentioned below
pursuant to Section 135 of the Companies Act, 2013 and Notification dated 27th February, 2014 issued by the
Ministry of Corporate Affairs under the said Section. The policy is framed for undertaking activities as may be
found beneficial and feasible for betterment of critical social environmental of the weaker sections of the society,
preferably locally, near to the factory sites of the Company. This CSR policy relates to the activities to be undertaken
by the Company as specified in Schedule VII of the Act and the expenditure thereon and focuses on addressing
critical social, environmental and economic needs of marginalised/underprivileged sections of the society. The CSR
policy is hoisted on the web link www.dil-india.com under the Investors section of the site.
2. The Composition of the CSR Committee:
The composition of the CSR Committee is as follows :-
Name of the Director Chairman/Member Promoter/Independent Director
Shri Pradip Kumar Daga, Chairman Promoter CMD of the Company
Shari Anand Prasad Agarwalla Member Independent Director
Shri Sujit Chakravorti Member Independent Director
3. Average net Profit of the company for last three years : ` 3692.85 lakhs
4. Prescribed CSR Expenditure (two per cent of the amount as in item 3 above) : ` 73.86 lakhs
5. Details of CSR spent during the financial year :
(a) Total amount to be spent for the financial year; `73.86 lakhs
(b) Amount unspent, if any; ` 73.86 lakhs. The unspent amount for the last year 2014-15 was 86.84 lakhs and
added to this the unspent amount of the current year it aggregates to 160.70 lakhs The unspent amount will
be carried forward/added to be spent in the future years.
(c) Manner in which the amount spent during the financial year is detailed below: Nil
1 2 3 4 5 6 7 8
Sr. CSR Project Sector in Projects or Amount out- Amount Cumulative Amount
No or activity which the Programmes lay (budget) spent on the expenditure spent:
identified project is (1) Local area projects or projects or upto the Direct or
covered or other (2) programswise programs reporting through
Specify the Sub-heads period implementing
State and (1)Direct agency
district where expenditure
projects or on projects or
programs was programs
undertaken (2)Overheads
--------------------Nil----------------------
6. In case the company has failed to spend the two percent of the average net profit of the last three financial years or
any part thereof, the company shall provide the reasons for not spending the amount in its Board report: Has been
provide as such in the said report.
7. A responsibility statement of the CSR Committee that the implementation and monitoring of CSR Policy, is in
compliance with CSR objectivities and Policy of the company.
Shri Yashwant Kumar Daga Shri Pradip Kumar Daga N.A.
(Chief Executive Officer or (Chairman of CSR Committee) (Person specified under clause (d) of sub-section (1)
Managing Director or Director) of section 380 of the Act)(wherever applicable)
19
CIN No. L63022WB1954PLC021638
ANNEXURE - IV
NOMINATION AND REMUNERATION POLICY
INTRODUCTION : Definitions :
In pursuance of the Company’s policy to consider human • ‘Board’ means Board of Directors of the Company.
resources as its invaluable assets, to pay equitable • ‘Directors’ means Directors of the Company.
remuneration to all Directors, Key Managerial Personnel
(KMP) and employees of the Company, to harmonize • ‘Committee’ means Nomination and Remuneration
the aspirations of human resources consistent with the Committee of the Company as constituted or
goals of the Company and in terms of the provisions of reconstituted by the Board.
the Companies Act, 2013 and the listing agreement as • ‘Company’ means Deepak Industries Limited.
amended from time to time this policy on nomination • ‘Independent Director’ means a director referred to
and remuneration of Directors, Key Managerial Personnel in Section 149 (6) of the Companies Act, 2013.
and Senior Management has been formulated by the • ‘Key Managerial Personnel (KMP)’ means -
Committee and approved by the Board of Directors.
(i) Executive Chairman and / or Managing Director/
OBJECTIVE AND PURPOSE OF THE POLICY : Chief Executive officer
The objective and purpose of this policy are: (ii) Whole-time Director
• To lay down criteria and terms and conditions with (iii) Chief Financial Officer;
regard to identifying persons who are qualified to
become Directors (Executive and Non-Executive) (iv) Company Secretary;
and persons who may be appointed in Senior (v) Such other officer as may be prescribed under
Management and Key Managerial positions and to the applicable statutory provisions / regulations.
determine their remuneration. • ‘Senior Management Personnel’ means senior
• To determine remuneration based on the Company’s personnel of the Company occupying the position of
size and financial position and trends and practices functional heads of the Company. Unless the context
on remuneration prevailing in peer companies, in the otherwise requires, words and expressions used in
industry to which the Company belongs. this policy and not defined herein but defined in the
• To carry out evaluation of the performance of Companies Act, 2013 as may be amended from time
Directors, as well as Key Managerial and Senior to time shall have the meaning respectively assigned
Management Personnel. to them therein.
• To provide them reward linked directly to their effort, Applicability :
performance, dedication and achievement relating to The Policy is applicable to -
the Company’s operations. • Directors (Executive and Non Executive)
• To retain, motivate and promote talent and to ensure • Key Managerial Personnel
long term sustainability of talented managerial • Senior Management Personnel
persons and create competitive advantage.
General :
In the context of the aforesaid criteria the following policy
has been formulated by the Nomination and Remuneration • This Policy is divided in three parts:
Committee and adopted by the Board of Directors at its (i) Part – A covers the matters to be dealt with and
meeting held on 14th August, 2014. recommended by the Committee to the Board,
Effective Date : (ii) Part – B covers the appointment, nomination
This policy shall be effective from the date of approval by and removal and
the Board. (iii) Part – C covers remuneration and perquisites
etc.
Constitution of the Nomination and Remuneration
Committee : PART – A
The Board has constituted Nomination and Remuneration MATTERS TO BE DEALT WITH, PERUSED AND
Committee on 15th May 2014 in place of Remuneration RECOMMENDED TO THE BOARD BY THE NOMINATION
Committee and Selection Committee. AND REMUNERATION COMMITTEE
The Board has the power to reconstitute the Committee The Committee shall :
consistent with the Company’s policy and applicable • Formulate the criteria for determining qualifications,
statutory requirements. positive attributes and independence of a director.
20
• Identify persons who are qualified to become Director such motion indicating the justification for extension
and persons who may be appointed in Key Managerial of appointment beyond seventy years.
and Senior Management positions in accordance with 4. Every whole-time Key Managerial Personnel of the
the criteria laid down in this policy. Company shall be appointed by means of a resolution
• Carry out the evaluation of performance of Directors, of the Board containing the terms and conditions of
KMP and Senior Management Personnel and the appointment including the remuneration. Provided
recommend to the Board, their appointment and that the appointment of whole time director(s) shall
removal. require approval of shareholders as per the provisions
• Recommend to the Board a policy relating to of the Companies Act, 2013.
remuneration for the directors, KMP and other 5. A whole time KMP shall not hold office in more than
employees and recommend to the Board, amendments one company except in its subsidiary company, if
to such policy as and when required. any, at the same time. However, such KMP can be a
director of any Company with the permission of the
PART – B Board.
POLICY FOR APPOINTMENT AND REMOVAL OF DIRECTOR, 6. The Managing Director or Manager of the Company
KMP AND SENIOR MANAGEMENT may be the Managing Director or Manager of one
Guiding Principles and not of not more than one other Company and
- Remuneration policy and arrangements for Directors, such appointment should be approved by a resolution
KMPs and Senior Management Personnel, shall passed at a meeting of the Board with the consent of
be determined by the Committee on the basis of all the directors present at the meeting and of which
Company’s financial position, pay and employment meeting, and of the resolution to be moved thereat,
conditions prevailing in peer companies or elsewhere specific notice has been given to all the directors then
in competitive market to ensure that the remuneration in India.
and the other terms of employment shall be • Term / Tenure :
competitive to ensure that the Company can attract, 1. Managing Director/Whole-time Director :
retain and motivate competent executives.
- The Company shall appoint or re-appoint any person
- Remuneration packages may be composed of fixed as its Managing Director or Whole Time Director
and incentive pay depending on short and long term for a term not exceeding five years at a time. No re-
performance objectives appropriate to the working of appointment shall be made earlier than one year
the Company. before the expiry of term.
- The Committee considers that a successful 2. Independent Director :
remuneration policy must ensure that a significant
part of the remuneration package is linked to the - An Independent Director shall hold office for a term up
achievement of corporate performance targets and a to five consecutive years on the Board of the Company
strong alignment of interest with stakeholders. and will be eligible for re-appointment on passing of a
special resolution by the Company and disclosure of
• Appointment criteria and qualifications : such appointment in the Board’s report.
1. The Committee shall identify and ascertain the - No Independent Director shall hold office for more
integrity, qualification, expertise and experience of the than two consecutive terms, but such Independent
person for appointment as Director, KMP or at Senior Director shall be eligible for appointment after expiry
Management level and recommend to the Board his/ of three years of ceasing to become an Independent
her appointment. Director. Provided that an Independent Director
2. A person should possess adequate qualification, shall not, during the said period of three years, be
expertise and experience for the position he/she is appointed in or be associated with the Company in any
considered for appointment. The Committee has other capacity, either directly or indirectly. However, if
discretion to decide whether qualification, expertise a person who has already served as an Independent
and experience possessed by a person is sufficient/ Director for 5 years or more in the Company as on
satisfactory for the concerned position. 1st October, 2014 or such other date as may be
3. The Company may appoint or continue the determined by the Committee as per regulatory
employment of any person as Whole-time Director requirement, he / she shall be eligible for appointment
who has attained the age of seventy years and the term for one more term of 5 years only.
of the person holding this position may be extended - At the time of appointment of Independent Director
beyond the age of seventy years with the approval of it should be ensured that number of Boards on which
shareholders by passing a special resolution based on such Independent Director serves is restricted to seven
the explanatory statement annexed to the notice for listed companies as an Independent Director and
21
CIN No. L63022WB1954PLC021638
three listed companies as an Independent Director in time to time. The Committee shall recommend
case such person is serving as a Whole-time Director the remuneration/compensation/commission etc.
of a listed company. to be paid the Whole-time Director and Directors
3. Key Managerial Personnel (KMP) - to the Board for approval. The remuneration/
compensation/commission etc. shall be subject
If the office of any whole time KMP is vacated, the to the prior/post approval of the shareholders of
resulting vacancy shall be filled up by the Board at a the Company and Central Government, wherever
meeting of the Board within a period of six months required.
from the date of such vacancy.
2. Increments to the existing remuneration/compen-
• Evaluation :
sation structure of Whole time Director and Directors
The Committee shall carry out evaluation of may be recommended by the Committee to the
performance of every Director, KMP and Senior Board which should be within the slabs approved by
Management Personnel at regular interval and the Shareholders.
recommend to the Board appointment/removal.
3. The Non-Executive/Independent Directors may
• Removal : receive remuneration by way of sitting fees for
The Committee may recommend, to the Board with attending meetings of Board or Committee thereof.
reasons recorded in writing, removal of a Director, Provided that the amount of such fees shall not
KMP or Senior Management Personnel subject to exceed such amount as may be prescribed by the
the provisions and compliance of any Act, rules and Central Government from time to time.
regulations, their service contract or evaluation of 4. Commission to Non-executive Directors may be paid
their performance. within the monetary limit approved by shareholders,
• Retirement : as per the applicable provisions of the Companies
The Director, KMP and Senior Management Personnel Act, 2013.
shall retire as per the applicable provisions of the 5. The remuneration/compensation/commission etc.
Companies Act, 2013 and the prevailing policy of the to the KMP and Senior Management Personnel will
Company. The Board will have the discretion to retain be determined based on the Company’s financial
the Director, KMP, Senior Management Personnel in position, trends and practices on remuneration
the same position/remuneration or otherwise even prevailing in peer companies, in the industry to which
after attaining the retirement age, for the benefit of the company belongs and performance of such KMP
the Company. and Senior Management Personnel
PART – C 6. Where any insurance is taken by the Company on
POLICY RELATING TO THE REMUNERATION FOR THE behalf of its Whole-time Director, Chief Executive
WHOLE-TIME DIRECTORS, DIRECTORS, KMP AND SENIOR Officer, Chief Financial Officer, the Company
MANAGEMENT PERSONNEL Secretary and any other employees for indemnifying
them against any liability, the premium paid on
1. The remuneration/compensation/commission etc. such insurance shall not be treated as part of the
to the Whole-time Directors and Directors will be remuneration payable to any such personnel.
determined by the Committee. It shall be fixed as per
the slabs and conditions mentioned in the Articles 7. An Independent Director shall not be entitled to any
of Association of the Company, the Companies Act, stock option of the Company.
2013, the rules made there under and the Listing This policy was adopted in the Board meeting held on
Agreement with Stock Exchanges as amended from 14/08/2014.
22
ANNEXURE - V

Disclosure pursuant to rules 5(1) of the Companies (Appointment and Remuneration of
managerial Personnel) Rules, 2014.
Sr. No. Requirement of Rule 5(1) for the Details
Financial Year 2015-16
i. The ratio of remuneration of each director to the Shri Pradip Kumar Daga: 29.63
median remuneration of the employee of the Shri Yashwant Kumar Daga: 27.16
company for the financial year. Other Directors-N A (as they do not receive monthly
remuneration)
ii. The Percentage increase in remuneration of each Director
director, Chief Financial Officer, Chief Executive Shri Pradip Kumar Daga, CMD and KMP- 9.19%
Officer, Company Secretary or manager, if any, in the Shri Yashwant Kumar Daga, VCJMD- 10.00%
financial year Other Directors- N.A (as they do not receive monthly
remuneration)
Key Managerial Personnel
Shri Maneesh Khanna, CFO-8.70%
Shri Vithal Das Mall, Company Secretary- Nil
Manager: Not applicable as the company does not
have a Manager.
iii. The Percentage increase in the median remuneration 15.57%
of employee in the financial year.
iv. The Number of permanent employee on the roll of the 1169 as on 31/03/2016
Company.
v. The explanation on the relationship between average Average increase in the remuneration of all employees
increase in remuneration and Company’s performance was 12.66% which is primarily on the basis of
individual performance of the concerned employee,
his continuing availability in view of market scenario
and expected future performance.
vi. Comparison of the remuneration of the Key managerial There has been average increase in the remuneration
Personnel against the performance of the Company. of the KMP and Managing Director.
vii. Variations in the market capitalisation of the Company, The Company’s Share has not been traded on the
price earning ration at the closing date of the current Calcutta Stock Exchange for long and therefore the
financial year and percentage increase/decrease in required information can not be provided.
the market quotations of the shares of the Company The company has not made any public issue or rights
in comparison to the rate at which company came out issue of securities since last 15 years, so comparison
with the last public offer in case of listed companies, have not been made of current share price with the
and in case of unlisted companies, the variation in public offer price, The company’s shares are listed on
the net worth of the company as at the close of the Calcutta Stock Exchange.
current financial year and previous financial year.
viii. Average percentile increase already made in the Average salary increase of non-managerial
salaries of employees other then the Managerial employees is 12.66% Average salary increase in
Personnel in the last Financial year and its comparison managerial personnel is about 10.00%. There are no
with percentile increase in the managerial exceptional circumstances in increase in managerial
remuneration and justification thereof and point out remuneration.
if there are any exceptional circumstances for increase
in the managerial remuneration.
23
CIN No. L63022WB1954PLC021638
ix. Comparison of each remuneration of the Key Same as vi above.

Managerial Personnel against the performance of the
Company.
x. The key parameters for any variable component of All employees including Executive Director receive re-
remuneration availed by the Directors muneration which is based on the individual’s perfor-
mance and company’s financial performance. For non
executive directors, fee is paid which is ` 10000/- per
Board meeting and ` 2000/- per committee meeting
attended during the year. The annual commission is
paid to the non-executive director is paid as part of
their services to the company and during the current
financial year, they have been ` 2,00,000 each.
xi. The ratio of remuneration of the highest paid Director Shri Pradip Kumar Daga, CMD is the highest paid di-
to that of employees who are not Directors but receive rector. No Employee Receives Remuneration higher
remuneration in excess of the highest paid Director than the Chairman-cum-Managing Director.
during the year.
xii. Affirmation that the remuneration is as per the Remuneration paid during the year ended 31/03/2016
remuneration policy of the Company. is as per the Remuneration Policy of the Company.
Disclosure pursuant to rules 5(2) of the Companies (Appointment and Remuneration of managerial
Personnel) Rules, 2014 of the employees who were in receipt of the remuneration not less than Rs. sixty
lacs per annum
S. No Particulars
i. Name of the Employee Shri Pradip Kumar Daga,
ii. Designation Chairman-cum-Managing Director
iii. Remuneration Received ` 6451200/-
iv. Nature of Employment, whether contractual or Contractual
otherwise
v. Qualification and Experience of the Employee B Cm (Hons), .63 years of Industrial Experience in
Engineering, Textile (Spinning) , Tea and Solar power
etc
vi. Date of Commencement of the employment 16/12/2008
vii. Age of such employee 79 years
viii. Last employment held by such employee before Deepak Spinners Limited as CMD
joining the Company
ix. The percentage of equity share held by the employee 187860
in the company
x. Whether such employee is a relative of any director Father of Shri Yashwant Kumar Daga, VCJMD
or Manager of the Company and if so, name of such
director or Manager
24
ANNEXURE - VI
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
This report forms the part of Board Report for the year ended 31st March, 2016.
OVERALL REVIEW AND INDUSTRY STRUCTURE AND DEVELOPMENT

The global economy despite the slow down in the last year is showing of improvement but the growth is not encouraging
from the manufacturing sector which is still struggling hard to follow the other sectors of the growth. Slow down of the
Chinese economy is continuing despite their currency devaluation affecting the word economy particularly the financial
sector. The oil crisis is continuing badly affecting the once rich oil producing countries.
In India, despite of the government thrust to spend in the infra sector including, rail, road, bridges, freight corridor etc,
this sector is not showing the improvement for some reasons. The power sector is slugging much due to the mining allo-
cation for the power projects and land availability issue. The financial sector in India is under immense pressure due to
the clearance of the back log of the Non Performing assets and recovery of NPA is facing problem due to the improper
legislative framework. The manufacturing sector is under pressure.
BUSINESS SEGMENTS
The Industrial gear segment is largely dependent on establishment of infra sector projects, expansion of core industries
such as cement, steel and automobile, all of which are yet to take place. In the current financial, the sector is not showing
the needed improvement to account for the investment made in the supporting sectors.
The automobile industry continues to face poor demand given the lack of profitability in Industry and agriculture. Current
year the prospect of god monsoons is not very promising because of the long spell of the heat wave in the country raising
fear of drought.
OPPORTUNITY AND THREATS
The government spending programs are expected to be implemented soon which will provide the necessary support to
the market for revival. Your company’s investments in manufacturing capacity made in the recent years will provide the
platform for deriving maximum benefits at the time of economic revival.
Generation of solar power station is satisfactory. However, the purchase of RECs, is not reviving.
FINANCIAL PERFORMANCE
This has already been discussed in the Board Report and further segment performance can be looked in the segment
information part of the notes to the accounts.
OUT LOOK
It is expected that the core sectors will show improvement and investments in power and infra sectors will receive a fresh
momentum.
RISK AND CONCERNS
The company has made sufficient investment in both the segments and requires skilled man power to operate the latest
technology machines. Increased power cost, higher transaction cost, high cost of labour are hindering the progress.
Competition from peers is also intensifying.
INTERNAL CONTROL SYSTEM AND ADEQUACY
The Company has adequate internal control systems and procedures commensurate with the size and nature of business
ensuring that the assets and resources are used reasonably and are adequately protected and all the internal policies and
statutory guidelines are complied with.
HUMAN RESOURCES AND INDUSTRIAL RELATION
The industrial relations continue to be cordial as the Company continues to lay emphasis on employee’s development at
all levels. There are 1169 employees in the Company as on 31.03.2016.
CAUTIONARY STATEMENT
Statements in the Management Discussion and Analysis describing the Company’s objectives, projections, estimates, and
expectations may be “forward looking statements” within the meaning of applicable securities laws and regulations.
Actual results could differ materially from those expressed or implied. Important factors that could make a difference to
the Company’s operations include economic conditions affecting demand/supply and price conditions in the domestic and
overseas markets in which the Company operates, changes in the Governments regulations, tax laws and other incidental
factors. The Company assumes no responsibility in respect of forward looking statements that may be revised or modified
in the future on the basis of subsequent developments, information of events.
25
CIN No. L63022WB1954PLC021638
ANNEXURE - VII
A INFORMATION AS REQUIRED UNDER RULE 8(3) OF THE COMPANIES (ACCOUNTS)
RULES, 2014 ON CONSERVATION OF ENERGY
Step Taken or Impact on Conservation of Energy during the year 2015-16
The company continues to give high priority to conservation of energy to conserve and optimize energy wherever
practicable by economizing on fuel and power on a continuous basis by renovation/up/gradation in high consumption
areas like lighting, Air Conditioning, heat treatment, supply power factor through additional condensers. The new
machines installed and put to use are highly energy efficient.
We append energy conservation measures implemented at our unit during the above period :
1. Formed Energy saving team of senior and experienced officials of company along with outside Energy consultation
agency M/s Tetrahedron system, Gurgaon led by top IIT & MBA background professionals with vast experience of
Industries, in the month of August, 2015 for exploring the possibilities of Energy saving and working on its Projects.
2. Introduced the Energy efficient less weight fixture ( 10 % reduction) on Gas Carburizing Furnace.
3. Released the Purchase order for Energy efficient water mono block pump for washing machine, Induction Hardening
and cooling tower of Heat treatment shop. Expected to get commissioned by May, 2016.
4. Provided LED Tube lights in new Tool Room and Quality Assurance sections.
5. Replaced T/5 Tube lights with LED Overhead mid bay lights in Hobbing section.
6. Extensive work done for compressed air leakage detection and prevention through ‘Legris ’.
7. Providing Energy efficient PNG fired Pre Heating furnace for Heat Treatment section. Expected to commission it by
July, 2016.
8. Improved insulation of Gas Carburizing furnaces for reducing heat losses.
9. Energy saving timers provided on Hydraulic power pack of Hobbing machines to switch it off during long idle time.
10. Purchasing the Electricity through Open Access for cost saving and reduction of Diesel consumption.
11. Maintaining the power factor of Electric supply at unity.
12. Increased the number of natural lighting in all shop floors by fixing Polycarbonate transparent sheets in the roof.
13. Replaced old electrical panels with PLC panels and also Conversion to CNC machines on some Gear Hobbing and
shaper machines.
14. Continued Maintaining the power factor at unity by providing APFC relays on Sub station as implemented in past
year.
15. Retrofitted two WS 1 Gear Shaping machine with Single Axis CNC (Additional 2 in plan for FY 16/17).
16. On Shot Blasting machine(2637)Installation of Dust collector motor 7.5 HP against 10HP.
17. All CNC Turning Machines (Total 18 nos) activated for Power Saving Mode when system in Idle Condition.
18. Cell wise operation of Heat treatment Equipments (Pre Heating, Tempering & SQF) to prevent energy waste in non
operating cells. Also Washing machine separated from PLC to Manual control to facilitate machine operation only
when required.
19. Imported Shots trials on Shot blasting machine to reduce cycle time of operation by 15/20%.
20. Interlocking Hydraulic motor on Hard part Turning machines with Auto Cycle for saving power.
21. In PE150 Hobbing machine (1611), separate Lub & Hydraulic motors combined to one, thus reducing power reqd
from 7.5KW to 1.5 KW.
22. Power-factor was maintained at a high 97% and maximum demand control measures undertaken specially in Heat-
treatment department towards routine energy control exercise.
23. Artificial lighting was augmented through introduction of more transparent roof sheets in Case-Production
department. LED, CFL, T-5 lamps and other energy saving lightings are routinely introduced eliminating higher
energy consuming conventional 36 W fluorescent tube-light sets.
26
24. Small compressors for some individual machines have been removed and air supply is continuously provided from
centralized 150 CFM Atlas Copco GA22 Screw Compressor resulting into substantial energy and cost savings.
i) The Steps taken by the company for utilizing alternate sources of energ Company have been initiated discussion
for solar power plant of 100KW capacity with authorized dealer/agencies.
ii) The Capital Investment on energy Conservation Equipment Company had spent Approx. 25 Lakhs on energy
conservation equipment. Apart from this Company have a budgeted plan of approx. Rs. 100 Lakhs for various
Energy projects implementation.
B) Technology absorption
i) The Efforts Made Towards Technology Absorption
a) Company had introduced following technology in last few years for the product quality improvement,
Faster production Development, Cost reduction
b) Raw material metallurgy checking(Equipment used Spectrometer, Microscope, Hardness tester)
c) Turning Drilling/Tapping & Milling (Equipment used CNC Lather)
d) Gear Cutting with auto part Loading/unloading (Equipment used CNC Hobbing /CNC Shaping)
e) Deburring, Chamfering, Teeth Roofing (Equipment used CNC Chamfering/CNC Roofing)
f) Gear Shaving by using CNC Shaving
g) Heat Treatment (Equipment applied SQF, Press Quench)
ii) Benefit derived
1) Explore New Product development indigenous, Export
2) Quality and quantity improvement of Manufactured product
3) Overall Productivity improvement
4) Cost Reduction
5) Customer Satisfaction
6) Compliance of Safety measurement
7) Reduction in Machine setup time, operation cycle time
8) Elimination of operator skill dependency
9) Multiple machining operations in one setup
iii) Imported Cases
2015-16
• Machine turning centre, make toshiba, japan
• 200 xrf analyzer & accessories, make bruker, Usa
• External cylindrical grinding machine, make Micromatic
• Double ended facing & centering machine, Make hmt
• Heavy duty cnc gear hobbing machine, make Hmt
• Carl zeiss micro scope model:axio imager m2m
• Cnc generating & profile grinding machine model:lcs/300, make: liebherr
• Hv3100 automatic hardness tester wilsion make
• Hv3100 automatic hardness tester wilsion make
• Motorized upright metallurgical microcope
Machine/Technology description (imported case in recent past)
2014-15
• Cnc universal cyl. Grinding machine/ecogrinder
• Cnc gear hobbing machine model: pe300 make: pfauter
• Cnc gear hobbing machine make gleason model: 125 gh
• Cnc turning centre, make: hardinge
27
CIN No. L63022WB1954PLC021638
• Cnc gear hobbing machine pfauter model pe150

• Cnc gear hobbing machine pfauter model pe150
• Gear hobbing machine model: pe 150 make: pfauter
• Cnc gear hobbing machine make: pfaute, model: 250c
• Cnc gear shaving machine make: hurth, model: zs240 t
• Hardness tester make: reicherter, model: briskup 300h
• Hardness tester make: wolpert, model: dia tster 2 rc
• Gear hobbing machine model: 782 make: gleason
• Gear hobbing machine model: 782 make: gleason
• Cnc gear hobbing machine make: gleason phoenix model: 125 gh
• Cnc gleason gear shaping m/c
• Pit type gas carburising furnance
• Bemco hydraulic press
2013-14
• Cnc universal cyl. Grinding machine/ecogrinder
• Used pfauter p e 150 c n c gear hobbing machine 12600euro
• Used gleason n 777 gear hobbing machine
• Used lorenz l s 154 gear shaping m/c
• Spectrometer/system with accessories
• Cnc automation scada system (heat treatment)
• Cnc vibration analyser
• Cnc tm induction heater (t&m techniek)
a) Whether the technology been fully utilized: Yes
b) If not fully absorbed: NA
c) Expenditure incurred on R & D (In house only, not on imported case in Last FY)
The research and development is being carried out in house by qualified professional for development,
technology up gradation.
(C) Foreign Exchange earning and outgo
The Company is making an all out effort of the products and expects improved performance in export in the coming
year.
(D) The Foreign Exchange earned in terms of actual inflows during the year and the foreign exchange outgo during the
year in terms of actual figures
Earnings & Expenditures in Foreign Currency : Rs’000
a) Earnings
F.O.B.Value of Export 49959
b) Expenditure
Travelling 1356
Others 973
Raw Materials (CIF) 12093
Stores and Spares parts (CIF) 17138
Capital Goods (CIF) 181163
28
ANNEXURE - VIII
FORM NO. MGT - 9

EXTRACT OF ANNUAL RETURN
As on the financial year ended on 31st March, 2016
[Pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies
(Management and Administration) Rules, 2014]
I. REGISTRATION AND OTHER DETAILS :

(i) CIN : L63022WB1954PLC021638
(ii) Registration Date : 08th May, 1954
(iii) Name of the Company : Deepak Industries Ltd
(iv) Category/Sub-Category of the Company : Company Limited by Shares
(v) Address of the Registered Office : 16, Hare Street, Kolkata-700001
(vi) Whether listed Company (Yes/No) : Yes on The Clacutta stock Exchane Ltd.
(vii) Name, Address and Contact details if any : Maheshwari Datamatics Private Limited,
6, Mangoe Lane, Kolkata-700 001
Phone : 033-2243-5029/5809
Fax: 033-2248-4787
Email : mdpldc@Yahoo.com
Contact person : Mr. Rajgopal
II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY
All the business activities contributing 10% or more of the total turnover of the Company shall be stated :
Sl. No. Name and Description of main NIC Code of the Product/service % to total turnover of the company
products/services
1. Industrial Gears 3563 76.73
2. Automobile Gears 3563 23.27
III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES –
Sl. No. Name amd Address CIN/GLN Holding/Subsidary/ % of Shres held Applicable
of the Company Associate section
1 Nil Nil Nil Nil Nil
29
CIN No. L63022WB1954PLC021638
IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)
(i) Category-wise Share Holding
Category of shareholders No. of shares held at the No of shares held at the % of change
beginning of the year (As on 01 April, 2015) end of the year (As on 31 March, 2016) during the
Demat Physical Total % of Demat Physical total % of year
total total
shares shares
A. Promoters
(1) Indian
a. Individuals/HUF 3256483 NIL 3256483 61.4652 3256483 NIL 3256483 64.4075 2.9423
b. Central Govt NIL NIL NIL NIL NIL NIL NIL NIL NIL
c. State Govt(s) NIL NIL NIL NIL NIL NIL NIL NIL NIL
d. Bodies Corp. 670881 NIL 670881 12.6627 643256 NIL 643256 12.7225 0.0598
e. Banks/FIs NIL NIL NIL NIL NIL NIL NIL NIL NIL
f. Any others NIL NIL NIL NIL NIL NIL NIL NIL NIL
Sub- total (A) (1) 3927364 NIL 3927364 74.1279 3899739 NIL 3899739 77.1300 3.0021
(2) Foreign NIL NIL NIL NIL NIL NIL NIL NIL NIL
a. NRIs-Individuals NIL NIL NIL NIL NIL NIL NIL NIL NIL
b. others individuals NIL NIL NIL NIL NIL NIL NIL NIL NIL
c. Bodies Corp. NIL NIL NIL NIL NIL NIL NIL NIL NIL
d. Banks/FIs NIL NIL NIL NIL NIL NIL NIL NIL NIL
e. Any others NIL NIL NIL NIL NIL NIL NIL NIL NIL
Sub-total (A) (2) NIL NIL NIL NIL NIL NIL NIL NIL NIL
Total shareholding of pro- 3927364 NIL 3927364 74.1279 3899739 NIL 3899739 77.1300 3.0021
moter (A)= (A)(1)+(A)(2)
B. Public Shareholding
1. Institutions NIL NIL NIL NIL NIL NIL NIL NIL NIL
a. Mutual funds NIL NIL NIL NIL NIL NIL NIL NIL NIL
b. Banks/FIs 284375 NIL 284375 5.3675 142188 NIL 142188 2.8122 -2.5553
c. Central Govt. NIL NIL NIL NIL NIL NIL NIL NIL NIL
d. State Govt(s) NIL NIL NIL NIL NIL NIL NIL NIL NIL
e. Venture Capital Fund NIL NIL NIL NIL NIL NIL NIL NIL NIL
f. Insurance Companies NIL NIL NIL NIL NIL NIL NIL NIL NIL
g. FIIs NIL NIL NIL NIL NIL NIL NIL NIL NIL
h. Foreign venture capital NIL NIL NIL NIL NIL NIL NIL NIL NIL
fund
i. Others(Specify) NIL NIL NIL NIL NIL NIL NIL NIL NIL
Alternate Investment Funds NIL NIL NIL NIL NIL NIL NIL NIL NIL
Foreign Portfolio Investors NIL NIL NIL NIL NIL NIL NIL NIL NIL
Provident Funds / Pension NIL NIL NIL NIL NIL NIL NIL NIL NIL
Funds
Qualified Foreign Investor NIL NIL NIL NIL NIL NIL NIL NIL NIL
Sub-total (B)(1):- 284375 NIL 284375 5.3675 142188 NIL 142188 2.8122 -2.5553
30
Category of shareholders No. of shares held at the No of shares held at the % of change
beginning of the year (As on 01 April, 2015) end of the year (As on 31 March, 2016) during the
Demat Physical Total % of Demat Physical total % of year
total total
shares shares
2. Non-Institutions
a. Bodies corp
i. Indian 618360 410419 1028779 19.4179 618360 364325 982625 19.4358 0.0179
ii. Oversas NIL NIL NIL NIL NIL NIL NIL NIL NIL
b. Individuals
i) Individuals shareholding 2200 55377 57577 1.0867 8100 21351 29451 0.5825 -0.5042
nominal share capital upto
Rs. 1 lakh
ii) Individual shareholding NIL NIL NIL NIL NIL NIL NIL NIL NIL
nominal capital in excess of
`1 lakh
c) Others (Specify) NIL NIL NIL NIL NIL NIL NIL NIL NIL
Non Resident Indians NIL NIL NIL NIL NIL NIL NIL NIL NIL
Qualified Foreign Investor NIL NIL NIL NIL NIL NIL NIL NIL NIL
Custodian of Enemy Prop- NIL NIL NIL NIL NIL NIL NIL NIL NIL
erty
Foreign Nationals NIL NIL NIL NIL NIL NIL NIL NIL NIL
Clearing Members NIL NIL NIL NIL 2000 NIL 2000 0.0396 0.0396
Trusts NIL NIL NIL NIL NIL NIL NIL NIL NIL
Foreign Bodies-D R NIL NIL NIL NIL NIL NIL NIL NIL NIL
Foreign Portfolio Investors NIL NIL NIL NIL NIL NIL NIL NIL NIL
NBFCs registered with RBI NIL NIL NIL NIL NIL NIL NIL NIL NIL
Employee Trusts NIL NIL NIL NIL NIL NIL NIL NIL NIL
Domestic Corporate Un- NIL NIL NIL NIL NIL NIL NIL NIL NIL
claimed Shares Account
Sub-total(B)(2):- 620560 465796 1086356 20.5046 628460 385676 1014136 20.0579 -0.4467
Total Public sharehold- 904935 465796 1370731 25.8721 770648 385676 1156324 22.8701 -3.0020
ing(B)=(B)(1)+(B)(2)
C. Shares held by Custodian NIL NIL NIL NIL NIL NIL NIL NIL NIL
for GDRs & ADRs
Grand total (A+B+C) 4832299 465796 5298095 100.0000 4670387 385676 5056063 100.0001 0.0000
31
CIN No. L63022WB1954PLC021638
(ii) Shareholding of Promoters
Sl. No. Shareholder’s Name Shareholding at the beginning of the Shareholding at the end of the year % change in
year [As on 01st Apr, 2015] [As on 31st Mar, 2016] share holding
No. of % of total % of Shares No. of % of total % of Shares during the
Shares Shares of the Pledged/ en- Shares Shares of the Pledged/ en- year
Company cumbered to Company cumbered to
total shares total shares
1. ASHA DEVI DAGA 870806 16.4362 0.0000 870806 17.2230 0.0000 0.0000
2. NANDINI DAGA 774625 14.6208 0.0000 774625 15.3207 0.0000 0.0000
3. SHANTANU DAGA 560000 10.5698 0.0000 560000 11.0758 0.0000 0.0000
4 COPLAMA PRODUCTS 554531 10.4666 0.0000 554531 10.9676 0.0000 0.0000
PRIVATE LIMITED
5 YASHWANT KUMAR 316088 5.9661 0.0000 316088 6.2517 0.0000 0.0000
DAGA
6 PRADIP KUMAR DAGA 277264 5.2333 0.0000 277264 5.4838 0.0000 0.0000
7 YASHWANT KUMAR 250000 4.7187 0.0000 250000 4.9446 0.0000 0.0000
DAGA
9 LONGVIEW TEA 88725 1.6747 0.0000 88725 1.7548 0.0000 0.0000
COMPANY LTD
11 CONTRANSYS PVT LTD 27625 0.5214 0.0000 0 0.0000 0.0000 -0.5214
TOTAL 3927364 74.1279 0.0000 3899739 77.1300 0.0000 3.0021
(iii) Change in Promoters’ Shareholding (please specify, if there is no change)
Sl. For Each of the Top 10 Shareholding at the Cumulative Shareholding

No. Shareholders beginning of the year (1st April 2015) during the year
No. of shares % of total shares No. of shares % of total shares
of the Company of the Company
At the beginning of the year 3927364 74.1279
Date wist Increase/Decrease in
Promoters shareholding during
the year specifying the reasons
of increase/decrease (e.g.
Allotment/transfer/bonus/Seat
Equity etc
26/02/2016 (Buyback) -27625 0.5214 3899739 77.1300
At the End of the year 3899739 77.1300
Note : There has been reduction in the Capital Pusrusant to the Buy back of the Shares of the Company
32
(iv) Shareholding Pattern of top ten Shareholders (Other than Directors, Promoters and Holders of GDRs & ADRs):
Sl. Name Shareholding at the beginning Cumulative Shareholding during

No. [01/Apr/15]/end of the year the year [01/Apr/15 to 31/Mar/16]
[31/Mar/16]
1. GITA DEVI BOHRA #
01-04-2015 3324 0.0627
24/04/2015 - Transfer -2301 0.0434 1023 0.0193
31-03-2016 1023 0.0202 1023 0.0202
2. PRAHLAD RAI BOHRA #

01-04-2015 3324 0.0627
24/04/2015 - Transfer -2301 0.0434 1023 0.0193
31-03-2016 1023 0.0202 1023 0.0202
3. SITARAM DAGA
01-04-2015 2323 0.0438
18/03/2016 - Transfer -2323 0.0459 0 0.0000
31-03-2016 0 0.0000 0 0.0000
4. VIDYA DHAR JHUNJHUNWALA #

01-04-2015 3150 0.0595
10/04/2015 - Transfer -3150 0.0595 0 0.0000
31-03-2016 0 0.0000 0 0.0000
5. NAVIN AGRO INDUSTRIES LTD.

01-04-2015 200525 3.7849
31-03-2016 200525 3.9660 200525 3.9660
6. NAVIN UDYOG PROMOTIONS LTD.

01-04-2015 162500 3.0671
31-03-2016 162500 3.2140 162500 3.2140
7. SURESH KUMAR SOMANI *

01-04-2015 2250 0.0425
31-03-2016 2250 0.0445 2250 0.0445
8. MANOJ JALAN #
01-04-2015 6175 0.1166
10/04/2015 - Transfer -6175 0.1166 0 0.0000
31-03-2016 0 0.0000 0 0.0000
9. RAJ KUMAR GHOSH #

01-04-2015 8774 0.1656
10/04/2015 - Transfer -4774 0.0901 4000 0.0755
24/04/2015 - Transfer -4000 0.0755 0 0.0000
31-03-2016 0 0.0000 0 0.0000
33
CIN No. L63022WB1954PLC021638

[31/Mar/16]
10. GLOBE STOCKS & SECURITIES LTD
01-04-2015 0 0.0000
19/06/2015 - Transfer 4602 0.0869 4602 0.0869
30/06/2015 - Transfer -4602 0.0869 0 0.0000
31-03-2016 0 0.0000 0 0.0000
11. RAJENDRA PRASAD CHOUDHARY*

01-04-2015 0 0.0000
03/07/2015 - Transfer 2200 0.0415 2200 0.0415
31-03-2016 2200 0.0435 2200 0.0435
12. SHIVAM AGARWAL

01-04-2015 0 0.0000
24/04/2015 - Transfer 2000 0.0377 2000 0.0377
04/03/2016 - Transfer -2000 0.0396 0 0.0000
31-03-2016 0 0.0000 0 0.0000
13. ICICI BANK LTD

01-04-2015 284375 5.3675
04/03/2016 - Transfer -142187 2.8122 142188 2.8122
31-03-2016 142188 2.8122 142188 2.8122
14. JALPAIGURI HOLDINGS PRIVATE

LIMITED
01-04-2015 618312 11.6705
31-03-2016 618312 12.2291 618312 12.2291
15. GLOBE STOCKS & SECURITIES LTD#

01-04-2015 46094 0.8700
10/04/2015 - Transfer 5947 0.1122 52041 0.9823
24/04/2015 - Transfer -5398 0.1019 46643 0.8804
01/05/2015 - Transfer -15000 0.2831 31643 0.5973
12/06/2015 - Transfer -7447 0.1406 24196 0.4567
19/06/2015 - Transfer -16602 0.3134 7594 0.1433
30/06/2015 - Transfer 4602 0.0869 12196 0.2302
07/08/2015 - Transfer -2300 0.0434 9896 0.1868
12/02/2016 - Transfer -9896 0.1868 0 0.0000
31-03-2016 0 0.0000 0 0.0000
16. MEENA LOHIA

01-04-2015 0 0.0000
10/04/2015 - Transfer 2388 0.0451 2388 0.0451
04/03/2016 - Transfer -2388 0.0472 0 0.0000
31-03-2016 0 0.0000 0 0.0000
34

[31/Mar/16]
17. RAJ SINGH CHOPRA
01-04-2015 0 0.0000
01/05/2015 - Transfer 2000 0.0377 2000 0.0377
26/02/2016 - Transfer -2000 0.0377 0 0.0000
31-03-2016 0 0.0000 0 0.0000
18. RAJENDRA PRASAD CHOUDHARY

01-04-2015 2200 0.0415
03/07/2015 - Transfer -2200 0.0415 0 0.0000
31-03-2016 0 0.0000 0 0.0000
19. SUNITA JAISWAL

01-04-2015 0 0.0000
24/04/2015 - Transfer 2000 0.0377 2000 0.0377
19/02/2016 - Transfer -2000 0.0377 0 0.0000
31-03-2016 0 0.0000 0 0.0000
20. RAJESH KUMAR RAJGARIA *

01-04-2015 0 0.0000
18/03/2016 - Transfer 2323 0.0459 2323 0.0459
31-03-2016 2323 0.0459 2323 0.0459
21. BHANWAR LAL RATHI *

01-04-2015 0 0.0000
19/06/2015 - Transfer 2000 0.0377 2000 0.0377
31-03-2016 2000 0.0396 2000 0.0396
22. HARSHIL SHAW *

01-04-2015 0 0.0000
01/05/2015 - Transfer 2000 0.0377 2000 0.0377
31-03-2016 2000 0.0396 2000 0.0396
* Not in the list of Top 10 shareholders as on 01/04/2015 The same has been reflected above since the shareholder was
one of the Top 10 shareholders as on 31/03/2016.
# Ceased to be in the list of Top 10 shareholders as on 31/03/2016. The same is reflected above since the shareholder was
one of the Top 10 shareholders as on 01/04/2015.
35
CIN No. L63022WB1954PLC021638
(v) Shareholding of Directors and Key Managerial Personnel :
Sl. For Each of the Directors Shareholding at the beginning Cumulative Shareholding during
No. and KMP 01st Apr, 2015 the year 31st Mar, 2016
No. of % of total shares No. of % of total shares
shares of the Company shares of the Company
1 Pradip Kumar Daga, Chairman & 187860 3.5458
Managing Director
Increase/Decrease during the year 0 0.0000 187860 3.7155
At the end of the year 187860 3.7155
2 2.Yashwant Kumar Daga, Vice-Chairman & 316088 5.9961

Joint Managing Director
Increase/Decrease during the year 0 0 316088 6.2517
At the end of the year 316088 6.2517
3 Sujit Chakravorti, Director 0 0

Increase/Decrease during the year 0 0 0 0
At the end of the year 0 0
4 Anand Prasad Agarwalla 0 0

5 Suresh Chand Mohta 0 0

6 Meera Dokania 0 0
7 Maneesh Khanna 0 0
8 Vithal Das Mall 100 0

36
V. INDEBTEDNESS
Indebtedness of the company including interest outstanding/accrued but not due for payment.
Secured Loans Unsecured Deposit Total

excluding Loans Indebtedness
deposits
Indebtedness at the beginning of the
financial year
(i) Principal Amount 10671.91 161.75 0 10833.66
(ii) Interest due but not paid 205.07 0 0 205.07
(iii) Interest accrued but not due 288.75 0 0 288.75
Total (i + ii + iii) 11165.73 161.75 0 11327.48
Change in Indebtedness during the
financial year
· Addition 861.15 838.05
· Reduction 23.10
Net Change
Indebtedness at the end of the financial
year
(i) Principal Amount 11764.29 138.65 0 11902.94
(ii) Interest due but not paid 154.36 0 0 154.36
(iii) Interest accrued but not due 108.23 0 0 108.23
Total (i + ii + iii) 12026.88 138.65 0 12165.53
VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL
A. Remuneration to Managing Director, Whole-time Directors and/or Manager :
Sl. Particulars of Remuneration Name of MD/ WTD/Manager Total

No. Amount
Pradip Kumar Daga Yashwant Kumar Daga
1. Gross Salary
(a) Salary as per provisions contained in 5760000 5280000 11040000
Section 17(1) of the Income Tax Act, 1961
(b) Value of perquisites u/s 17(2) Income Tax 691200 633600 1324800
Act,, 1961
(c) Profit in lieu of salary under Section 17(3) - - -
Income Tax Act, 1961
2 Stock Option - - -
3 Sweat Equity - - -
4 Commission
- As % of profit - - -
- Others, specify.. - - -
5. Others, please specify - - -
Total (A) 6451200 5913600 12364800
Ceiling as per the Act
37
CIN No. L63022WB1954PLC021638
B. Remuneration to other Directors :
Sl. Particulars of Remuneration Name of Directors Total

No. Amount
Anand Suresh Sujit Meera
Prasad Kumar Chakravorti Dokania
Agarwalla Mohta
Independent Directors
• Fee for attending board 16000 14000 8000 38000
committee meetings
• Commission
• Others, please specify
Total (1) 16000 14000 8000 – 38000
Other Non-Executive Directors
• Fee for attending board 54000 54000 44000 54000 206000
committee meetings
• Commission 200000 200000 200000 600000
• Others, please specify – – – –
Total (2) 254000 254000 244000 54000 806000
Total (B)=(1+2)
Total Managerial Remuneration 270000 268000 252000 54000 844000
Ceiling as per the Act
C. Remuneration to Key Managerial Personnel, other than MD/Manager/WTD :
Sl. Particulars of Remuneration Key Managerial Personnel Total Amount

No.
Company Secretary CFO
1. Gross Salary
(a) Salary as per provisions contained in Section 520000 1248600 1768600
17(1) of the Income Tax Act, 1961
(b) Value of perquisites u/s 17(2) Income Tax 130000 130000
Act,, 1961
(c ) Profit in lieu of salary under Section 17(3) – – –
Income Tax Act, 1961
2 Stock Option – – –
3 Sweat Equity – – –
4 Commission
- As % of profit – – –
- Others, specify – – –
5 Others, please specify – – –
Total 650000 1248600 1898600
38
VII. PENALTIES / PUNISHMENT / COMPOUNDING OF OFFENCES :

The company has not been convicted of any offences during the year.
Type Section of the Brief Description Details of Authority [RD/ Appeal made,
Companies Act Penalty/ NCLT/COURT] if any (give
Punishment / Details)
Compounding
fees imposed
A. COMPANY
Penalty Nil Nil Nil Nil Nil
Punishment Nil Nil Nil Nil Nil
Compounding Nil Nil Nil Nil Nil
B. DIRECTORS
C. OTHER OFFICERS IN DEFAULT
39
CIN No. L63022WB1954PLC021638
INDEPENDENT AUDITOR’S REPORT

To The Members of
Report on the Standalone Financial Statements
We have audited the accompanying standalone financial statements of Deepak Industries Limited (‘the Company’), which
comprise the Balance Sheet as at 31st March, 2016, the Statement of Profit and Loss, the Cash Flow Statement for the
year then ended, and a summary of the significant accounting policies and other explanatory information, in which are
incorporated the Returns for the year ended on that date audited by the branch auditors of the Company’s branches at
New Allenberry Works – Faridabad, Rudrapur, Kolkata, Baghola and Dharwad.
Management’s Responsibility for the Standalone Financial Statements
The Company’s Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013
(‘the Act’) with respect to the preparation of these standalone financial statements that give a true and fair view of
the financial position, financial performance and cash flows of the Company in accordance with the accounting principles
generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7
of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records
in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting
frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and
estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial
controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant
to the preparation and presentation of the financial statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these standalone financial statements based on our audit.
We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are
required to be included in the audit report under the provisions of the Act and the Rules made there under.
We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act.
Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the
financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of
material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the
auditor considers internal financial control relevant to the Company’s preparation of the financial statements that give a
true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes
evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates
made by the Company’s Directors, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
on the standalone financial statements.
Opinion
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone
financial statements give the information required by the Act in the manner so required and give a true and fair view
in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at
31st March, 2016, and its profit and its cash flows for the year ended on that date.
Other Matter
We did not audit the financial statements/information of five branches included in the standalone financial statements
of the Company whose financial statements/financial information reflect total assets of Rs. 397,16,22 thousands as at
40
31st March, 2016 and total revenue of Rs. 333,59,59 thousands for the year ended on that date, as considered in the
standalone financial statements. The financial statements/informations of these branches have been audited by the
branch auditor whose reports have been furnished to us, and our opinion in so far as it relates to the amounts and
disclosures included in respect of these branches, is based solely on the report of such auditor.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor’s Report) Order, 2016 (‘the Order’) issued by the Central Government of
India in terms of sub-section (11) of section 143 of the Act, we give in the Annexure ‘A’ a statement on the matters
specified in the paragraph 3 and 4 of the Order, to the extent applicable.
2. As required by Section 143 (3) of the Act, we report that :
a. We have sought and obtained all the information and explanations which to the best of our knowledge and
belief were necessary for the purposes of our audit.
b. In our opinion, proper books of account as required by law have been kept by the Company so far as it appears
from our examination of those books;
c. The reports on the accounts of New Allenberry Works at Faridabad, Rudrapur, Kolkata, Baghola and Dharwad
of the Company audited under Section 143(8) of the Act by branch auditors have been sent to us and have
been properly dealt by us in preparing this report;
d. The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are
in agreement with the books of account;
e. In our opinion, the aforesaid standalone financial statements comply with the Accounting Standards specified
under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014;
f. On the basis of the written representations received from the directors as on 31st March, 2016 taken on record
by the Board of Directors, none of the directors is disqualified as on 31st March, 2016 from being appointed as
a director in terms of Section 164 (2) of the Act.
g. With respect to the adequacy of the internal financial controls over financial reporting of the Company and the
operating effectiveness of such controls, refer to our separate report in Annexure ‘B’.
h. With respect to the other matters included in the Auditor’s Report in accordance with Rule 11 of the Companies
(Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the
explanations given to us :
i. The Company has disclosed the impact of pending litigations on its financial position in its financial
statements – Refer Note 2.26(a), (g), (h), (e) and 2.32 to the financial statements;
ii. The Company has made provision, as required under the applicable Law or Accounting Standards, for
material foreseeable losses, if any;
iii. The company has no unpaid dividend in the books of accounts which needs to be transferred to Investor
Education and Protection Fund;

For SINGHI & CO.
Firm Registration No.302049E
ANURAG SINGHI
Place : Kolkata Partner
Dated, the 28th day of May, 2016 Membership No.066274
41
CIN No. L63022WB1954PLC021638
Annexure ‘A’ to the Independent Auditors’ Report

The Annexure referred to in paragraph 1 with the heading ‘Report on other legal and regulatory requirements’ of our
Report of even date to the members of Deepak Industries Limited on the financial statements of the Company for the year
ended 31st March 2016, we report that :
1. (a) The Company has maintained proper records showing full particulars, including quantitative details and
situation of fixed assets.
(b) As explained to us, fixed assets of the Company have been physically verified by the management at reasonable
intervals, in a phased verification programme, which, in our opinion, is reasonable, looking to the size of the
Company and the nature of its business. According to the information and explanations given to us, no material
discrepancies have been noticed on such physical verification.
(c) According to the information and explanations given to us and on the basis of our examination of the records
of the Company, the title deeds of immovable properties are held in the name of the Company.
2. As explained to us inventories have been physically verified during the year by the management, which in our
opinion is reasonable and discrepancies which were noticed have been properly dealt with in the books of accounts.
However, it is not material in nature.
3. According to the information and explanations given to us, the Company has not granted any loan, secured or
unsecured to companies, firms, limited liability partnerships or other parties listed in the register maintained under
section 189 of the Act. Hence, comments on paragraph 3(iii) of the Order are not applicable to the Company.
4. In our opinion and according to the information and explanations given to us, the Company has complied with the
provisions of section 186 of the Act, with respect to the investments made during the year. The Company has neither
issued any guarantee, given any loan nor has provided any security on behalf of any party. Further according to
the information and explanations given to us, the company has not entered into any transactions as referred to in
section 185 of the Act.
5. The Company has not accepted any deposits. Consequently, the directives issued by the Reserve Bank of India and
the provisions of sections 73 to 76 or any other relevant provisions of the Companies Act and the rules framed there
under, are not applicable to the Company.
6. The Central Government has prescribed maintenance of cost records under section 148 (1) of the Companies Act,
for the Company. We have broadly reviewed such accounts and records and are of the opinion that prima facie,
the prescribed accounts & records have been made & maintained but no detailed examination of such records and
accounts have been carried out by us.
7. According to the information and explanations given to us in respect of statutory and other dues :
(a) The Company is generally regular in depositing undisputed dues including Provident Fund, Employees’ State
Insurance, income tax, sales tax, wealth tax, service tax, duty of customs, duty of excise, value added tax, cess
and any other material statutory dues, as applicable with the appropriate authorities.
(b) According to the information and explanations given to us, there are no dues of wealth tax, duty of customs,
cess and value added tax which have not been deposited with the appropriate authorities on account of
any dispute. However, following dues of income tax, sales tax, service tax, duty of excise and have not been
deposited by the Company on account of disputes (Refer note no. 2.34) :
Name of the Statute Nature of Dues & Year to Amount Forum Where dispute is Pending
which these relates involved
` (‘000)
Central Sales Tax Act, 1956 Central Sales Tax (F.Y 2000-01) 3,546 Revision pending before Kolkata
High Court
Central Sales Tax Act, 1956 Central Sales Tax (F.Y 2001-02) 9,452 Pending before Kolkata High Court
(State matter settled under SOD
Scheme)
Central Sales Tax Act, 1956 Central Sales Tax (F.Y 2002-03) 3,640 Revision pending before Tribunal &
High Court
42
Name of the Statute Nature of Dues & Year to Amount Forum Where dispute is Pending
which these relates involved
` (‘000)
Central Sales Tax Act, 1956 Central Sales Tax (F.Y 2004-05) 1,428 Appeal to be filed before Revision
Board
Central Sales Tax Act, 1956 Central Sales Tax (F.Y 2005-06) 5,646 Pending before Kolkata High Court
Central Sales Tax Act, 1956 Central Sales Tax (F.Y 2006-07 3,077 Revision pending before Revision
to 2008-09) Board (State matter settled under
SOD Scheme)
Central Sales Tax Act, 1956 Central Sales Tax (F.Y 2009-10 5,992 Revision pending before Revision
to 2011-12) Board
Central Sales Tax Act, 1956 Central Sales Tax (F.Y.2012-13) 4,574 Appeal pending before Appellate
Authority
W.B. Sales Tax Act, 1944 W.B. Sales Tax (F.Y 2002-03) 2,776 Revision pending before Tribunal &
High Court
W.B. Sales Tax Act, 1944 W.B. Sales Tax (F.Y 2003-04) 1,579 State matter pending before
Revision Board (Central matter
settled under SOD Scheme
W.B. Sales Tax Act, 1944 W.B. Sales Tax (F.Y 2004-05) 1,955 Appeal to be filed before Revision
Board
W.B. Sales Tax Act, 1944 W.B. Sales Tax (F.Y 2009-10 to 477 Revision pending before Revision
2011-12) Board
Central Excise Act, 1944 CENVAT for Service Tax on Rent 419 Central Excise & Service Tax
(Rule 14 of CENVAT Credit (F.Y. 2009-10) Appeals Tribunal (CESTAT), New
Rule) Delhi
Income Tax Act, 1961 Short allowance of our Claim 640 Commissioner of Income Tax VI
u/s 80IC and Short allowance (Appeals)/Kolkata.
of TDS & Other. Asst. Year
2010-11
Income Tax Act, 1961 Short Allowance of Additional 26 Commissioner of Income Tax VI
Depreciation `7757, deduction (Appeals)/Kolkata.
u/s 80IC `1106, & TDS ` 26
Asst. Year 2013-14
8. On the basis of records examined by us and the information and explanations given to us, the Company has not
decaulted in reapayment of dues to Banks, Financial Institutions and Government.
9. Based on information and explanations given to us and records of the Company examined by us, the Company has
not raised moneys by way of initial public offer or further public offer (including debt Instruments) and the term
loan availed by the Company as on the Balance Sheet data, were applied by the company for the purpose for which
loans were obtained.
10. According to the information and explanations given to us, no material fraud by the Company or on the Company
by its officers or employees has been noticed or reported during the course of our audit.
11. According to the information and explanations given to us and based on our examination of the records of the
Company, the Company has not paid managerial remuneration in excess of the limits prescribed under the
provisions of section 197 read with Schedule V to the Act.
12. In our opinion and according to the information and explanations given to us, the Company is not a Nidhi company,
Accordingly, paragraph 3(xii) of the Order is not applicable.
Company, transactions with the related parties are in compliance with sections 177 and 188 of the Act where
applicable and details of such transactions have been disclosed in the financial statements as required by the
applicable accounting standards.
43
CIN No. L63022WB1954PLC021638
Company, the Company has not made any preferential allotment or private placement of shares or fully or partly
convertible debenture during the year.
Company, the Company, the Company has not entered into non-cash transactions with directors or persons
connected with him. Accordingly, paragraph 3(xv) of the Order is not applicable.
16. The Company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934.
For SINGHI & CO.

ANURAG SINGHI
Place : Kolkata Partner
Annexure ‘B’ to the Independent Auditors’ Report

The Annexure referred to in paragraph 2 (g) under the heading “Report on Other Legal and Regulatory Requirements” of
our Independent Auditors’ Report of even date in respect to the internal financial control under clause (i) of sub-section 3
of section 143 of the Act of M/s Deepak Industries Limited for the year ended 31 March 2016, we report that:
We have audited the internal financial controls over financial reporting of M/s Deepak Industries Limited (“the Company”)
as of 31st March 2016 in conjunction with our audit of the financial statements of the Company for the year ended on
that date.
Management’s responsibility for Internal Financial Controls
The Company’s management is responsible for establishing and maintaining internal financial controls based on the
internal control over financial reporting criteria established by the Company considering the essential components of
internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by
the Institute of Chartered Accountants of India (‘ICAI’). These responsibilities include the design, implementation and
maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient
conduct of its business, including adherence to company’s policies, the safeguarding of its assets, the prevention and
detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of
reliable financial information, as required under the Act.
Auditor’s Responsibility
Our responsibility is to express an opinion on the Company’s internal financial controls over financial reporting based on
our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls over
Financial Reporting (the “Guidance Note”) and the Standards on Auditing, issued by ICAI and deemed to be prescribed
under section 143(10) of the Companies Act, 2013 to the extent applicable to an audit of internal financial controls, both
applicable to an audit of Internal Financial Controls and, both issued by ICAI. Those Standards and the Guidance Note
require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about
whether adequate internal financial controls over financial reporting was established and maintained and if such controls
operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls
system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial
reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk
that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control
based on the assessed risk. The procedures selected depend on the auditor’s judgment, including the assessment of the
risks of material misstatement of the financial statements, whether due to fraud or error.
44
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
on the Company’s internal financial controls system over financial reporting.
Meaning of Internal Financial Controls over Financial Reporting
A company’s internal financial control over financial reporting is a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles. A company’s internal financial control over financial reporting
includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately
and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that
transactions are recorded as necessary to permit preparation of financial statements in accordance with generally
accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance
with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a
material effect on the financial statements.
Inherent Limitations of Internal Financial Controls over Financial Reporting
Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of
collusion or improper management override of controls, material misstatements due to error or fraud may occur and not
be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods
are subject to the risk that the internal financial control over financial reporting may become inadequate because of
changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Opinion
In our opinion, the Company has, in all material respects, an adequate internal financial controls system over financial
reporting and such internal financial controls over financial reporting were operating effectively as at 31 March 2016, based
on the internal control over financial reporting criteria established by the Company considering the essential components
of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by
the Institute of Chartered Accountants of India.
Other Matter
We did not test the adequacy of Internal Financial Controls of five branches. The test for adequacy and operating
effectiveness of Internal Financial Controls of these branches have been audited by the branch auditor whose reports
have been furnished to us, and our opinion in so far as it relates to the adequacy of Internal Financial Controls in respect
of these branches, is based solely on the report of such auditor.
For SINGHI & CO.
ANURAG SINGHI
Place : KOLKATA Partner
45
CIN No. L63022WB1954PLC021638
BALANCE SHEET AS AT 31ST MARCH, 2016

(` In ‘000)
Note No. As at 31st March, 2016 As at 31st March, 2015
EQUITY AND LIABILITIES
SHAREHOLDERS’ FUNDS
Share Capital 2.1 50,561 52,981
Reserves and Surplus 2.2 2,045,238 2,196,576
2,095,799 2,249,557
NON-CURRENT LIABILITIES
Long-Term Borrowings 2.3 397,893 363,625
Deferred Tax Liabilities (Net) 2.4 118,622 155,439
Other Long-Term Liabilities 2.5 4,653 2,896
Long-Term Provisions 2.6 10,883 10,337
532,051 532,297
CURRENT LIABILITIES
Short-Term Borrowings 2.7 684,220 612,440
Trade Payables 2.8
Micro, Small and Medium Enterprises (Refer Note 2.28) - -
Others 418,975 357,685
Other Current Liabilities 2.9 381,933 368,624
Short-Term Provisions 2.6 9,234 3,018
1,494,362 1,341,767
TOTAL 4,122,212 4,123,621
ASSETS
NON-CURRENT ASSETS
Fixed Assets
Tangible Assets 2.10 1,454,568 1,332,125
Intangible Assets 2.10 7,513 8,985
Capital Work-In-Progress 59,682 129,448
1,521,763 1,470,558
Non-Current Investment 2.11 50,000 50,000
Long-Term Loans and Advances 2.12 193,110 252,447
1,764,873 1,773,005
CURRENT ASSETS
Inventories 2.13 650,403 639,014
Trade Receivables 2.14 718,720 578,733
Cash and Bank Balances 2.15 825,710 1,009,275
Short-Term Loans and Advances 2.12 102,317 71,127
Other Current Assets 2.16 60,189 52,467
2,357,339 2,350,616
TOTAL 4,122,212 4,123,621
Significant Accounting Policies 1
The Notes are an integral part of the Financial Statements
As per our Report annexed.
For SINGHI & CO.
Firm Reg. No. 302049E
ANURAG SINGHI
Partner
Membership No. 066274 V. D. MALL P. K. DAGA (DIN : 00040692) A. P. AGARWALLA (DIN : 00312652)
Company Secretary Chairman-cum-Managing Director S. CHAKRABORTY (DIN : 00066344)
1B, Old Post Office Street S. C. MOHTA (DIN : 00066305)
Kolkata - 700 001 MANEESH KHANNA Y. K. DAGA (DIN : 00040632) MEERA DOKANIA (DIN : 07094376)
Dated : The 28th day of May, 2016 Chief Financial Officer Vice-Chairman-cum Jt. Managing Director Directors
46
STATEMENT OF PROFIT & LOSS FOR THE YEAR ENDED 31ST MARCH, 2016
(` In ‘000)
Note No. For the Year ended For the Year ended
31st March, 2016 31st March, 2015
INCOME
Revenue from Operations (Gross) 2.17 3,359,889 3,392,156
Less : Excise Duty 330,155 310,972
Revenue from Operations (Net) 3,029,734 3,081,184
Other Income 2.18 143,065 121,003

Total Revenue 3,172,799 3,202,187
EXPENSES
Cost of Materials Consumed 2.19 1,226,457 1,341,333
(Increase) / Decrease in Inventories of Finished Goods
2.20 171,704 692
and Work-in-Progress
Employee Benefits Expense 2.21 436,820 386,882
Finance Costs 2.22 122,606 113,044
Other Expenses 2.23 809,822 883,784
Depreciation and Amortization Expense 2.24 210,851 220,355
2,978,260 2,946,090
Profit before Tax 194,539 256,097
Tax Expense : 2.25
Current Tax 69,090 85,664
Deferred Tax (36,817) (11,541)
32,273 74,123
Taxation related to Earlier years - 1,486
32,273 75,609
Profit for the year after tax 162,266 180,488
Earnings Per Share [nominal value ` 10 /-]
Weighted Average Number of Equity Shares 5,056,063 5,298,095
outstanding during the year
Basic and Diluted earning per share 32.09 34.07
Significant Accounting Policies 1
The Notes are an integral part of the Financial Statements

For SINGHI & CO.
ANURAG SINGHI
Partner
47
CIN No. L63022WB1954PLC021638
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2016
(` In ‘000)
For the year ended For the year ended
A. Cash Flow from Operating Activities
Net Profit/(Loss) before Tax and Extra Ordinary Items 194,539 256,097
Adjustment for :-
Depreciation and Amortisation Expenses 210,851 220,355
(Profit)/ loss on sale of F.Assets (2) 533
Finance cost 122,606 113,044
Interest Received (121,200) (97,892)
Wealth Tax Provision - 20
Reversal of Impirement - (2)
406,794 492,155
Movement in Working Capital
Increase/(Decrease) in Trade Payables 61,290 (177,723)
Increase/(Decrease) in Other Current Liabilities 8,573 (53,673)
Increase/(Decrease) in Short Term Provisions 6,236 (3,914)
Increase/(Decrease) in Long Term Provisions 546 786
(Increase)/Decrease in Trade Receivable (139,987) 9,912
(Increase)/Decrease in Inventories (11,389) 85,255
(Increase)/Decrease in Long Term Loans and Advances 22,991 30,999
Proceeds from Short Term External Development Charges - 18,919
Proceeds from Other Long Term Liabilities 1,757 (17,027)
(Increase)/Decrease in Short Term Loans and Advances (31,210) 3,870
(Increase)/Decrease in Other Current Assets 98 (124)
Cash Generated from Operation before taxes 325,699 389,435
Direct Taxes Paid (32,744) (68,323)
Cash Flow Before Extra - Ordinary Items - -
Net Cash Flow from Operating Activities 292,955 321,112
B. Cash Flow from Investing Activities

Purchase of Tangible and Intangible Assets Including CWIP (262,174) (243,282)
Sale of Tangible Assets 120 1,831
Interest Received 113,380 92,300
Investment - (50,000)
(Increase)/Decrease in other Bank Balance 60,171 216,689
Net Cash used in Investing Activities (88,503) 17,538
48
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2016 (Contd.)
(` In ‘000)
For the year ended For the year ended
C. Cash Flow from Financing Activities
Proceeds/(Repayment)of Short Term Hire Purchase /Lease Finance 164 548
Proceeds from Current Maturities of Long Term Debts 3,580 63,990
Proceeds from Short Term Borrowings 71,780 (16,355)
Proceeds/(Repayment) of Long Term Borrowings 34,268 6,158
Buy back of Equity Shares (72,610) –
Dividend and Tax on Distributed Profit (243,414) –
Finance Charges (121,614) (112,204)
Net Cash used in Financing Activities (327,846) (57,863)
Net increase in Cash and Cash Equivalents (A+B+C) (123,394) 280,787

CASH AND CASH EQUIVALENTS AS AT 31.03.2015 658,806 378,019
CASH AND CASH EQUIVALENTS AS AT 31.03.2016 535,412 658,806
Cash & Cash equivalent includes :
Cash In Hand 1,259 331
Balance With Schedule Banks
In Current Account 24,524 13,882
In Fixed Deposit Account with original maturity of Less than
509,629 644,593
three months
Total 535,412 658,806
Note : 1) The above cash flow statement has been prepared under the indirect method set out in AS-3 issued by the
Institute of Chartered Accountants of India.
2) Figure in brackets indicate cash outgo.
3) Previous years figures have been regrouped and recast where ever necessary to confirm to the current
period classification.
This is the cash flow statement referred to in our report of even date.
For SINGHI & CO.
ANURAG SINGHI
Partner
49
CIN No. L63022WB1954PLC021638
NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2016
1. Significant Accounting Policies
a) Basis of Accounting
The financial statements are prepared under the historical cost convention, except stated otherwise, on an
accrual basis and in accordance with the generally accepted accounting principles in India, the applicable
mandatory Accounting Standards as prescribed under Sec.133 of the Companies Act,2013 read with Rule 7 of
the Companies (Accounts) Rules, 2014
The financial statements have been prepared and presented as per the requirement of Schedule III as notified
under Companies Act 2013.
b) Convention and use of Estimates
The preparation of financial statements is under generally accepted accounting principles (GAAP) which
requires management to make estimates and assumptions that affect the reported statements of assets and
liabilities and the disclosure of contingent liabilities on that date of financial statements and the reported
amounts of revenue and expenses during the year. The actual results could differ from these estimates. Any
revision to accounting estimates is recognized.
c) Fixed Assets
Tangible Fixed Assets
a. Fixed Assets are stated at cost less depreciation excluding Fixed Assets of Faridabad unit which are stated
at revalued cost/Cost less depreciation.
b. Depreciation of Fixed Assets is provided on straight-line method except at Rudrapur unit where
depreciation is provided on written down value method at the rate prescribed in Schedule II to the
Companies Act, 2013. However, on capital expenditure incurred on installation of assets taken on sub-
lease at Rudrapur unit, which is being written off over the period of lease.
c. Depreciation relating to revalued portion of Fixed Assets is ascertained and adjusted with Revaluation
Reserve.
Intangible Fixed Assets
a. Intangible assets are stated at cost on initial recognition, after which the same are stated at cost less
accumulated amortization and accumulated impairment loss, if any.
b. Intangible assets are amortised over a period of 5 years. The amortisation period and the amortization
method are reviewed at least at the end of each financial year. If the expected useful life of the assets is
significantly different from previous estimate, the amortization period is changed accordingly.
d) Inventories
1) Inventories of Raw Materials, Stores, Spare Parts and Packing Materials are valued at cost. Cost is
computed on weighted average/FIFO basis.
2) Work-in-progress and Semi Finished Goods are valued at lower of cost and net realizable value.
3) Finished Goods are valued at lower of cost and net realizable value. Scrap is valued at net realizable value.
e) Employees Benefits
1) Short term Benefit
The undiscounted amount of short term employees benefits expected to be paid in exchange for the
services rendered by employees is recognized in the period in which the employee rendered the service.
This benefit includes salary, wages, short term compensatory absence and bonus.
2) Long Term Benefits
i) Defined Contribution Scheme(DCS) – such as Provident Fund and other Funds, Employees State
Insurance Scheme are charged to the Statement of Profit and Loss as incurred as per the applicable
Law/Rules.
ii) Defined Benefit Scheme (DBS) - The present obligation of Company’s liability towards Gratuity and
Leave Encashment under such scheme is determined based on an actuarial valuation, using the
Projected Unit Credit (PUC) method, carried out by an independent actuary. As per the requirement
of “Accounting Standard 15 (Revised 2005) on Employees benefit. Actuarial gain and losses arising
50
Significant Accounting Policies (Contd.)
on such valuation are recognized immediately in the Statement of Profit and Loss.
In case of Funded Defined Benefit Scheme the fair value of the plan assets is reduced from the gross
obligation under Defined Benefit Scheme, to recognize the obligation on net basis.
f) Foreign currency transactions :
i) Foreign currency transactions are recorded at the exchange rates prevailing on the date of the
transaction. Gain and loss arising out of subsequent fluctuations are accounted for on actual payment or
realization. Monetary items in the form of Loan, Current Assets and Current Liabilities denominated in
foreign currency as at the Balance Sheet date are restated at the rates prevailing on that date. Exchange
difference is recognized in the Statement of Profit and Loss except exchange difference on account of
Fixed Assets which are adjusted with Fixed Assets and gain/loss on foreign currency loan for fluctuation
of foreign currency accounted as finance cost to the extent of Interest.
. ii) Premium or discount arising at the inception of forward contract is amortized as expenses or income
over the life of the contract. Exchange difference on forward contracts is recognized in the Statement of
Profit and Loss in the year in which the exchange rates change. Any profit or loss arising on cancellation
or renewal of forward contract is recognized as income or expenses in the Statement of Profit and Loss.
g) Recognition of Income & Expenditure
Income & Expenses are recognized on mercantile basis except insurance claim which is accounted for on cash
basis and interests on overdue bills are accounted for on certainty of realization.
h) Borrowing Cost
Interest and other borrowing costs directly attributable to the acquisition, construction or installation of
qualifying capital assets till the date of commercial use of the assets are capitalized. Other borrowing cost is
recognized as an expense in the period in which they are incurred.
i) Contingent Liabilities/Contingent Assets
Provisions are recognized in respect of present obligations arising out of past events where there are reliable
estimate of probable outflow of resources. Contingent Liabilities are the possible obligation of past events ,
the existence of which will be confirmed only by the occurrence or non occurrence of a future event. These
are not provided for and are disclosed by way of notes on Accounts; Contingent Assets are not provided for or
disclosed.
j) Excise Duty/Custom Duty
Excise Duty on manufactured finished goods lying in factory and Custom Duty on stock lying in bonded
warehouse are accounted for on the estimated basis on the Balance Sheet date.
k) Expenditure during construction period
Expenses of Capital nature are capitalized. Such expenditures comprise of purchase price, import duty and
any directly attributable cost of bringing the assets to their working condition, trial run expenses and interest
attributable up to the date of installation.
l) Impairment of Assets
Impairment of Assets is assessed at Balance Sheet date and if any indication of impairment exists, the same
is assessed and an impairment loss is recognized whenever the carrying amount of an asset exceeds its
recoverable amount.
m) Taxation
Income tax expense comprises of current tax and deferred tax charge or release. The deferred tax charge or
credit is recognized using tax rates and the tax laws enacted or substantively enacted at the Balance Sheet
date. Where there is unabsorbed depreciation or carry forward losses, deferred tax assets are recognized only
if there is virtual certainty supported by convincing evidence of realization of such assets. Other deferred tax
assets are recognized only to the extent there is reasonable certainty of realization in future. Such assets are
reviewed as at each Balance Sheet date to reassess realization.
n) Investment
Long term investments are stated at cost less provision for permanent diminution in value of such investment,
if any.
51
CIN No. L63022WB1954PLC021638
NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2016
(` In ‘000)
As at As at
2.1 SHARE CAPITAL :
Authorised :
53,00,000 (PY - 53,00,000) Equity Shares of ` 10/- each 53,000 53,000
20,000 (PY - 20,000) Redeemable Cumulative Preference Shares of ` 100/- each 2,000 2,000
55,000 55,000
Issued :
50,56,063 (PY - 52,98,095) Equity Shares of ` 10/- each 50,561 52,981
Subscribed and Paid-up
50,56,063 (PY - 52,98,095) Equity Shares of ` 10/- each fully paid up 50,561 52,981
50,561 52,981
a) There has been change/movements in number of shares outstanding at the beginning and at the end of the reporting period
due to buy back of Shares. The reconciliation of the number of shares and the amount of share capital as on March 31, 2016 and
March 31, 2015 is as follows :
Particulars 31.03.2016 31.03.2015
No. of Shares Amount (` in 000) No. of Shares Amount (` in 000)
Shares at the beginning of the year 5,298,095 52,981 5,298,095 52,981
Less : Buy back during the year 242,032 2,420 – –
Shares at the end of the year 5,056,063 50,561 5,298,095 52,981
b) During the year Company has bought back 242032 nos of equity shares of `.10/- each at a premium of `290/- per Share as per
resolution passed by the Board of Directors in its meeting held on 14.11.2015 and approved by the share holders on 29.12.2015.
c) The Company has only one class of issued shares i.e. Equity Shares having par value of ` 10 per share. Each holder of Equity Shares
is entitled to one vote per share and equal right for dividend. The dividend proposed by the Board of Directors is subject to the
approval of shareholders in the Annual General Meeting. In the event of liquidation, the equity shareholders are eligible to receive
the remaining assets of the Company after payment of all preferential amounts, in proportion to their shareholding.
d) The Company does not have any Holding Company/ultimate Holding Company.
e) Details of shareholders holding more than 5% shares in the Company :
Equity Shares of ` 10 each fully paid No. of Shares
Asha Devi Daga (% of Holding, CY - 17.22, PY - 16.44) 870,806 870,806
Nandini Daga (% of Holding, CY - 15.32, PY - 14.62) 774,625 774,625
Shantanu Daga (% of Holding, CY - 11.08, PY - 10.57) 560,000 560,000
Yashwant Kumar Daga (% of Holding, CY - 11.20, PY -10.68) * 566,088 566,088
Pradip Kumar Daga (% of Holding, CY - 9.59, PY - 9.15) ** 484,964 484,964
Coplama Products Private Limited (% of Holding, CY - 10.97, PY - 10.47) 554,531 554,531
Jalpaiguri Holdings Private Limited (% of Holding, CY - 12.23, PY - 11.67) 618,312 618,312
ICICI Bank Limited (% of Holding, CY - 2.81, PY -5.37 ) 142,188 284,375
*Includes 250,000 (PY-250,000) nos of shares held by HUF
**Includes 297,104 (PY-297,104) nos of shares held by HUF
f) No Equity Shares have been reserved for issue under options and contracts/commitments for the sale of shares/disinvestment
as at the Balance Sheet date.
g) No shares have been allotted by the Company during the period of 5 years preceding the date as at which the Balance Sheet is
prepared.
h) No Securities Convertible into Equity/Preference Shares have been issued by the company during the year.
i) No calls are unpaid by any Director or Officer of the Company during the year.
52
(` In ‘000)
As at As at
2.2 RESERVES AND SURPLUS
Capital Reserves
As per the last Financial Statements 3,536 3,536
3,536 3,536
Capital Reedumption Reserve
As per the last Financial Statements – –
Add : Reserve Created during the year 2,420 –
2,420 –
Revaluation Reserve
As per the last Financial Statements 7,742 10,696
Less : Transfer to the Statement of Profit & Loss being depreciation on Revalued Assets – 2,954
7,742 7,742
Surplus
As per the last Financial Statements 2,185,298 2,004,810
Less : Fund utilise for Buy Back of Equity Shares 70,190 –
Less : Transfered to Capital Redemption Reserve 2,420 –
Less : Interim Dividend Paid 202,242 –
Less : Tax on distributed Profit 41,172 –
Add : Profit for the year 162,266 180,488
2,031,540 2,185,298
2,045,238 2,196,576
2.3 LONG-TERM BORROWINGS Non-current portion Current maturities

As at As at As at As at
31st March, 2016 31st March, 2015 31st March, 2016 31st March, 2015
Term Loans (Secured)
Rupee Loan from Bank (1(a) and 1(b)) 5,527 29,250 29,250 39,000
Rupee Corporate Loan from Bank (1 (a), (c ),(d) (e) 380,812 320,511 79,320 65,990
and (f))
386,339 349,761 108,570 104,990
Amount disclosed under the head “Other Current – – 108,570 104,990
Liability” (Note 2.9)
386,339 349,761 – –
Other Loans and Advances (Unsecured)
Sales Tax Soft Loan Sanctioned by Govt of West Bengal 11,554 13,864 2,311 2,311
for payment of sales tax liability (3)
Amount disclosed under the head “Other Current – – 2,311 2,311
Liability” (Note 2.9)
11,554 13,864 – –
397,893 363,625 – –
1. a) The Term loans and Corporate Loan from SBI is secured by way of hypothecation of machines purchased out of Bank Loan
& equitable mortgage of the freehold Industrial property with building and Factory shed of Kolkata unit at 62 Hazra Road,
Kolkata by 1st charge of movable fixed assets of the unit as primary security and 2nd hypothecation charge on current
assets of the company as collateral security.
b) Term Loan of ` 1950 lacs sanctioned with a tenor of 7 years including a moratorium period of 2 years repayable in 20
quarterly installments commencing from March, 2012 and concluding on December, 2016. Rate of Interest : 11.75% p.a.
c) Corporate Loan of ` 1165 lacs sanctioned with a tenor of 6 years including a moratorium period of 1 year repayable
in 20 quarterly installments commencing from q.e. June ’14 to March ’15 @ ` 5 Lac per quarter, June ’15 to March ’17
@ ` 65 Lac per quarter, June ’17 to March ’18 @ ` 75 Lac per quarter, June ’18 to Dec. ’18 @ ` 80 Lac per quarter and in
q.e. March ’19 @ ` 85 Lac. Rate of Interest : 10.90% p.a.
d) Corporate Loan of ` 3200 lacs sanctioned with a tenor of 8 years including a moratorium period of 2 years payable in
24 quarterly installments commencing from q.e. Sept. 15 to March ’21 @ ` 133.30 Lac per quarter and in q.e. June ’21
@ ` 134.10 Lac. Rate of Interest : 10.90% p.a.
53
CIN No. L63022WB1954PLC021638
(` In ‘000)
e) Corporate Loan of ` 1000 lacs sanctioned with a tenor of 8 years including a moratorium period of 2 years payable in 24
quarterly installments commencing from q.e. June’17 to March 19 @ ` 5.00 Lac per quarter, June ’19 to March ‘20 @
` 15.00 Lacs per quarter, June ’20 to Sept. ’20 @ ` 25.00 lacs per querter, Dec ’20 to June 21 @ ` 50 Lacs per querter and
Sept ’21 to March ’23 @ ` 100.00 lacs per querter. Rate of interest 10.90% p.a.
f) Corporate Loan of ` 1670 lacs sanctioned with a tenor of 8 years including a moratorium period of 2 years payable in 24
quarterly installments commencing from q.e. March ’18 to March ‘20 @ ` 50.00 Lac per quarter, June ’20 to March
‘23 @ ` 80.00 Lacs per quarter, June ’23 to Sept. ’23 @ Rs.90.00 lacs per querter, and concluding during q.e. Dec ’23 @
` 80.00 lacs. Rate of interest 10.80% p.a.

2. Repayment of Soft Loan installment due yearly @ ` 23.00 Lacs in 8 equal instalments commenced from August,2014.
2.4 DEFERRED TAX LIABILITIES (NET) As at As at

Deferred Tax Liabilities
Arising on account of :
Depreciation 131,129 167,393
Less : Deferred Tax Assets
Arising on account of :
Unabsorbed Depreciation – –
Section 43B of Income-tax Act 12,507 12,507 11,954 11,954
Deferred Tax Liabilities (Net) 118,622 155,439
Long-term Short-term
2.5 OTHER LONG TERM LIABILITIES
Other Liabilities
External Development Charges(Bhagoli) – – 40,029 40,029
Hire Purchase/lease Finance Liability 4,653 2,896 1,761 1,597
4,653 2,896 41,790 41,626
Amount disclosed under the head “Other Current
Liability” (Note 2.9) – – 41,790 41,626
4,653 2,896 – –
2.6 PROVISIONS Long-term Short-term

Provision for Employee Benefits
Leave Payment 10,827 10,281 3,125 2,392
Gratuity – – 6,109 606
10,827 10,281 9,234 2,998
Other Provisions
Provisions for Taxation (Net of Payments) 56 56 – –
Provisions for Wealth Tax (Net of payment) – – – 20
10,883 10,337 9,234 3,018
As at As at
2.7 SHORT TERM BORROWINGS
Working Capital Borrowings
From Banks
Rupee Loan from Bank (Secured) (a) 684,220 612,440
684,220 612,440
a) Working Capital Borrowings in Rupee are secured on pari-passu basis by way of hypothecation of stocks, book debts and
other current assets present and future of the company and extension of equitable mortgage of immovable fixed assets of the
Company . The working capital advances are also secured by way of second charge on the fixed assets of the Company.
54
(` In ‘000)
As at As at
2.8 TRADE PAYABLES
Micro, Small and Medium Enterprises (Refer Note 2.28) – –
Others 418,975 357,685
418,975 357,685
2.9 OTHER CURRENT LIABILITIES

Creditors for Fixed Assets 43,257 39,328
Current maturities of Long Term Debt (See Note 2.3) 110,881 107,301
Current maturities of Hire Purchase/Lease Finance Liability (See Note 2.5) 1,761 1,597
External Development Charges (Bhagoli) (See Note 2.5) 40,029 40,029
Statutory Dues 31,117 27,716
Sales Tax/VAT 15,436 20,507
Excise Duty 10,823 28,875
Interest Accrued & Due 6,487 5,488
Interest Accrued but not due 44 51
Trade and Security Deposits 693 641
Liability Relating to Employees 14,795 13,364
Advances Received from Customers 92,020 70,481
Others 14,590 13,246
381,933 368,624
55
NOTE 2.10 : FIXED ASSETS (` In ‘000)
GROSS BLOCK * DEPRECIATION IMPAIRMENT NET BLOCK
WDV
Value Additions Deductions/ Value Adjustment Provided Deductions/ Depreci- up to Impairment
as at during Adjustments as at Upto with during Adjustments ation 31.03.2016 Impairment Adjustments up to As at As at
31st March, the during 31st March, 31st March, Retained the during up to before up to during 31st March 31st March 31st March
2015 Year the year 2016 2015 Profit of year the year 31st March, Impairment 31.03.2015 the year 2016 2016 2015
Earlier Year# 2016
TANGIBLE ASSETS
Leasehold Land** 13,240 – – 13,240 1,324 – 147 – 1,471 11,769 – – – 11,769 11,916
Freehold Land 191,471 7,980 – 199,451 – – – – – 199,451 – – – 199,451 191,471

CIN No. L63022WB1954PLC021638
Buildings 102,824 64,155 – 166,979 51,735 – 4,141 – 55,876 111,103 – – – 111,103 51,089
Plant & Machinery 2,107,379 250,718 – 2,358,097 1,038,295 – 198,814 – 1,237,109 1,120,988 12,790 – 12,790
1,108,198 1,056,294
Furniture & Fittings 14,594 580 1,414 13,760 8,086 – 1,125 1,344 7,867 5,893 – – – 5,893 6,508
Vehicles*** 15,519 5,630 651 20,498 6,339 – 2,041 617 7,763 12,735 – – – 12,735 9,180
Office Equipment 23,797 2,544 271 26,070 18,130 – 2,778 257 20,651 5,419 – – – 5,419 5,667
Total 2,468,824 331,607 2,336 2,798,095 1,123,909 – 209,046 2,218 1,330,737 1,467,358 12,790 – 12,790 1,454,568 1,332,125
INTANGIBLE ASSETS
56
Computer Software 12,270 333 – 12,603 3,285 – 1,805 – 5,090 7,513 – – – 7,513 8,985
Total 12,270 333 – 12,603 3,285 – 1,805 – 5,090 7,513 – – – 7,513 8,985
Grand Total : 2,481,094 331,940 2,336 2,810,698 1,127,194 – 210,851 2,218 1,335,827 1,474,871 12,790 – 12,790 1,462,081 1,341,110
Previous Year : 2,302,673 193,220 14,799 2,481,094 916,320 12,049 211,260 12,435 1,127,194 1,353,900 12,792 2 12,790 1,341,110
Note: * Land, Buildings, Plant & Machinery (including Electrical Installations and Water Supply Installations) of Faridabad unit of the Company were revalued by an
approved valuer on 31st March, 1991 which resulted in increase of Fixed Assets Value by ` 50,957. Subsequent deduction on disposal till date is `10,936
(` 10,824).
* * Depreciation represent Proportionate amount of leasehold land amortised over the period of lease.
*** Includes ` 10,169 (` 7,713) acquired on Hire Purchase basis and under continued hire purchase agreement. Present liability for the same is ` 6,414 (` 4,493) out
of which ` 1,761 (` 1,597) is payable with in one year.
Based on transitional provisions as provided in note no. 7(b) of schedule II of the Companies Act, 2013 read with notification no. 456 dated 29th August, 2014, an
amount of Nil (` 9,095 )has been charged in the Statement of Profit & Loss.
(` In ‘000)
2.11 NON-CURRENT INVESTMENT Long-term Short-term
Long Term Investment (Non-Trade)
5,000,000 Nos 3% Redeemable Preference Share of 50,000 – – –
` 10/- each fully paid up of M/s. Brua Hydrowatt Pvt.
Ltd (Unquoted)
2,000,000 Nos Redeemable after 3 years from 21.10.2014 50,000 50,000 – –
2,000,000 Nos Redeemable after 3 years from 19.11.2014
1,000,000 Nos Redeemable after 3 years from 27.11.2014
2.12 LOANS & ADVANCES

Capital Advances
Unsecured, considered good 83,707 106,112 – –
83,707 106,112 – –
Security Deposits
Unsecured, considered good 9,849 10,434 3,253 1,977
Considered Doubtful 141 141 – –
9,990 10,575 3,253 1,977
Less : Provision for Doubt ful Deposit 141 141 – –
9,849 10,434 3,253 1,977
Other Loans and Advances
(Unsecured, Considered good)
Advance Tax and TDS (Net of provisions) 24,148 32,919 – –
Advance Fringe Benefit Tax 5 8 – –
Mat Credit Entitlement 75,401 102,974 – –
Advance against supply of Goods and Services – – 41,284 38,396
Prepaid Expenses – – 2,994 2,068
Advance to Employees – – 731 697
Balances with Govt and Statutory Authorities – – 54,055 27,989
99,554 135,901 99,064 69,150
193,110 252,447 102,317 71,127
2.13 INVENTORIES (As taken,valued and certified by the
Management)
Raw Materials# 319,238 157,859
Work in Progress 109,232 95,029
Semi Finished Goods 1,180 9,003
Finished Goods 116,750 294,967
Stores and Spares 103,627 81,913
Scraps 376 243
650,403 639,014
# includes goods-in-transit ` 231 (Pr. Yr. ` 558)
Details of Inventories : Finished Goods Work-in-Progress*

Worm Reduction Gear 8,262 12,190 7,042 8,360
Spur Helical, Double Helical and Bevel Reduction 50,633 29,396 25,015 25,922
Gear Boxes
Geared Motors/Coupling 3,156 2,784 34 1,062
Others 1,642 1,517 10,579 10,061
Tractor & Atomobile Gear/Parts 37,199 200,466 48,869 44,486
Rear Axles &Spline Shaft for Tractor & Automobile 15,858 48,614 18,873 14,141
116,750 294,967 110,412 104,032
* Including Semifinished ` 1180 (` 9003)
57
CIN No. L63022WB1954PLC021638
(` In ‘000)
2.14 TRADE RECEIVABLES Non-Current Current
Outstanding for a period exceeding six months
Unsecured, considered good – – 115,825 92,178
Doubtful – – 15,313 15,313
– – 131,138 107,491
Provision for doubtful receivables – – 15,313 15,313
– – 115,825 92,178
Other Receivables
Unsecured, considered good
Due from Others – – 598,878 482,946
Due from Related Party – – 4,017 3,608
– – 602,895 486,555
– – 718,720 578,733
2.15 CASH AND BANK BALANCES As at As at

Cash and Cash Equivalents
Balances With Banks :
In Current Account 24,524 13,882
In Fixed Deposit Accounts with original maturity of less than three months 509,629 644,593
Cash in hand (Incld Stamps) (As certified by the Management) 1,259 331
535,412 658,806
Other Bank Balances
Balances with Bank held as margin money / security (a) 771 123
In Fixed Deposit Accounts with original maturity of more than three months (b) 289,527 350,346
290,298 350,469
825,710 1,009,275
a) Margin Money Account is Pledged with Banks against Bank Guarantees / Letter of Credits.
b) Pledged with VAT Authority ` 50 (` 50)
2.16 OTHER CURRENT ASSETS Non-Current Current

(Unsecured, considered good)
Interest Receivable 60,093 52,273
Insurance Claim Receivable – – – –
Duty Draw Back Receivable – – 96 194
– – 60,189 52,467
58
(` In ‘000)
2.17 REVENUE FROM OPERATIONS (GROSS) For the year ended
Sale of Products (including Export Sales of ` 49,959 (Pr. Yr. ` 35,054) 3,337,762 3,362,216
Sale of Scraps 21,017 29,041
3,358,779 3,391,257
Sale of Service 1,110 899
3,359,889 3,392,156
Less : Excise Duty 330,155 310,972
3,029,734 3,081,184
Details of Sale of Products & Scraps
Worm Reduction Gear 123,281 120,948
Spur Helical, Double Helical and Bevel Reduction Gear Boxes 599,120 609,440
Geared Motors 16,786 21,109
Loose Gear including Jobbing Charges 11,376 25,245
Torison Shaft & Diaphragm Couplings 7,793 5,735
Tractor & Automobile Gear/Parts 1,989,762 2,026,043
Rear Axles & Spline Shaft for Tractor & Automobile 631,573 615,005
Loose Gears & Gear Boxes 41 4,144
Gear Coupling 254 2,018
Sale of Scrap 21,016 29,041
Other 11,029 9,557
Solar Power 65,687 47,430
3,477,718 3,515,715
Less : Inter unit transfer 118,939 124,458
3,358,779 3,391,257
2.18 OTHER INCOME

Interest Income
On Bank Deposits 118,717 97,380
Others 2,483 512
121,200 97,892
Other Non Operating Income
Profit on sale of Fixed Assets 86 512
Excess Liabilities and Unclaimed Balances written back 317 5,399
Insurance and Other Claims (Net) 33 –
Reversal of Impairment – 2
Net gain / (loss) on Foreign Currency transactions 1,235 505
Misc. Income * 20,194 16,693
143,065 121,003
* 1) Includes ` 14012 (` 7806) cash discount received on early payments
*2) Includes ` Nil (` 3529) received from parties which was written off in earlier years.
59
CIN No. L63022WB1954PLC021638
(` In ‘000)
2.19 COST OF MATERIALS CONSUMED For the year ended
Raw Material Consumed
Opening Inventories 157,859 226,725
Add : Purchase 1,387,836 1,272,467
1,545,695 1,499,192
Less : Closing Inventories 319,238 157,859
Cost of Raw Material Consumed 1,226,457 1,341,333
Details of Raw Material Consumed

Bearings 74,041 68,394
PB Rims 11,943 18,245
Steel 868,290 985,904
Castings 80,234 94,620
Electric Motors 4,188 5,644
Steel Castingn & Forgings 33,517 14,704
Tractor & Atomobile Gear/Parts 63,226 67,913
Rear Axles & Spline Shaft for Tractor & Automobile 70,457 73,176
Others 139,500 137,191
1,345,396 1,465,791
Less : Inter unit transfer 118,939 124,458
1,226,457 1,341,333
2.20 (INCREASE)/DECREASE IN INVENTORIES OF FINISHED GOODS, WORK-IN-PROGRESS

Inventories at the beginning of the year
Work-in-Progress 95,029 105,018
Semi Finished 9,003 4,000
Scraps 243 267
399,242 399,934
Inventories at the end of the year
Work-in-Progress 109,232 95,029
Semi Finished 1,180 9,003
Scraps 376 243
227,538 399,242
171,704 692
2.21 EMPLOYEE BENEFIT EXPENSE

Salaries & Wages 387,048 344,113
Contribution to Provident Funds, Gratuity & Others 31,352 23,598
Staff Welfare Expenses 18,420 19,171
436,820 386,882
60
(` In ‘000)
2.22 FINANCE COST For the year ended
Interest Expenses
To Banks on Term Loans 6,609 12,125
" Banks On Working Capital Loans 111,409 97,490
" Others 1,967 1,662
119,985 111,277
Other Borrowing Cost
Financial Charges 2,621 1,767
122,606 113,044
2.23 OTHER EXPENSES

MANUFACTURING EXPENSES
Stores, Spare Parts & Packing Materials Consumed 224,542 335,173
Power & Fuel 125,576 128,085
Job Charges 129,160 132,162
Repairs to Buildings 6,938 7,595
Repairs to Machinery 125,453 88,172
Repairs to Other Assets 11,910 10,534
Solar Power 5,450 4,590
Increase/(Decrease) in Excise on Stocks 5,914 23,575
634,943 729,886
ADMINISTRATION AND SELLING EXPENSES
Brokerage & Commission on Sales 11,427 8,097
Transport & Forwarding Expenses 39,662 35,574
Rent 8,331 7,667
Insurance 2,089 2,106
Rates & Taxes 1,581 1,821
Legal & Professional Expenses 43,375 34,448
Travelling Expenses 29,256 29,128
Bank Charges 3,925 2,959
Postage, Telephones, Telex 2,912 3,235
Printing & Stationery 4,002 4,069
Directors' Fees 244 146
Directors Commission 800 600
Donation 1,007 1,000
Tax and Duties 8,002 5,334
Share Buy Back Expenses 2,488 -
Auditors' Remuneration -
Statutory Auditors -
Audit Fees 654 529
Limited Review Fees 162 56
Tax Audit Fees 100 98
Issue of Certificates 247 170
Bad Debt and Sundry Balance written off (Net) 750 16
Loss on sale/discard of Fixed Assets 84 1,045
Miscellaneous Expenses 13,781 15,800
174,879 153,898
809,822 883,784
61
CIN No. L63022WB1954PLC021638
(` In ‘000)
2.24 DEPRECIATION AND AMORTIZATION EXPENSES For the year ended
For Current year

On Tangible Assets 209,046 210,521
On Intangible Assets 1,805 739
210,851 211,260
For Earlier year
Transitional Depreciation ( On Tangible Assets having useful life Nil) – 12,049
Less : Adjustment for Depreciation on revalued Assets – 2,954
– 9,095
TOTAL 210,851 220,355
2.25 TAX EXPENSE

Taxation for the Current Year 41,518 53,679
Add : Utilisation of Mat Credit Entitlement 27,572 31,985
Current Tax 69,090 85,664
Deferred Tax (36,817) (11,541)
TOTAL 32,273 74,123
Taxation related to Earlier year
Tax – 1,486
32,273 75,609
2.26 Contingent Liabilities not provided for in respect of : (` In ‘000)

a) Claims against the company not acknowledged as ` 2,306 (` 2,306).
b) Letter of Guarantee opened by Bank in favour of foreign /Indian suppliers ` 3,103 (` 3,639).
c) Letter of credit opened by Bank in favour of Indian suppliers ` 35,552 (` 16,668)
d) Guarantee issued by Bank for ` 90,378 (` 98,206) including ` 6,860 (` 10,558) in respect of amount included in Advance from
customers. The bank held margin money of ` 60 (` 60) as fixed deposit receipts against the said guarantee.
e) Indemnity Bonds issued in favour of Customs Department for ` 4,166 (` 4,166) and ` 82 (` 82) deposited in this respect, has
been included in security deposit.
f) Proportionate value of duty saved vide Letter of Undertaking given to Jt. Director General of Foreign Trade under EPCG
Scheme, where export obligation can be completed in future years ` 22,241 (` 14,671) The export made by Faridabad unit
has been considered to fulfill the EPCG obligation in respect of machine installed at Rudrapur unit.
g) Sales Tax liabilities ` 26,452 (` 34,631) (Ref: Note 2.34)
h) The disputed issues/demand of Income Tax and Fringe Benefit Tax amounting to ` 3,993 (` 1,137) not provided in the
accounts as the matter pending adjudication before CIT (Appeals), VI, Kol. and DCIT Cir-6 (Refer Note. 2.34)
a) Assessment Year 2009-10 demand ` 3 (` 3) paid by way of adjustment by department with refund of A.Y. 2011-12 out
of ` 510 (Income Tax.).
b) Assessment Year 2009-10 demand ` 215 (` 215) paid by way of adjustment by department with refund of A.Y. 2011-12
out of ` 510 adjusted `463 (`462) (Fringe Benefit Tax.).
c) Assessment year 2010-11 demand ` 640 (` 640).
d) The disputed issue for Asst. year 2012-13 for Short Allowance of Deduction u/s 80IC amounts to ` 722 and short
allowance of Credit of TDS `23 Tax involve in the matter `234 approx adjustment by department out of refund of
current A.Y. (P.Y Nil).
62
(` In ‘000)
e) The disputed demand of Income Tax for Asst. year 2013-14 for `26 pending adjudication before CIT (Appeals), VI,
Kolkata. The disputed issue are for disallowance of Additional Depreciation ` 7757 Short deduction u/s 80IC ` 1106/-
Short credit of TDS ` 26 and wrong adjustment of Credit u/s 115JA. Tax involve in the matter ` 2902 approx adjusted
with credit u/s 115JA ` 2876.
i) The disputed dues on account of CENVAT, Service Tax, Sales Tax, Interest on Excise Duty and Penalty amounting to ` 419
(` 12,515) has not been provided in the accounts and deposited as the matter is pending Adjudication before concerned
authorities. (Ref Note2.34)
2.27 Capital Commitments
Estimated value of contracts remaining to be executed on Capital Account and not provided for ` 139,676 (` 202,597) Advance
paid ` 83,707 (` 106,112)
2.28 The Company is in a the process of identifying Micro, Small and Medium Enterprises as defined under the Micro, Small and
Medium Enterprises Development Act, 2006. Therefore, it is not possible for the Company to ascertain whether payment to such
enterprises has been done within 45 days from the date of acceptance of supply of goods or services rendered by such enterprises
and to make requisite disclosure. The disclosure as required under the said act is as under :
a) Principal amount due to supplier under MSMED Act Not ascertained
b) Interest due to suppliers on above. N.A.
c) Any payment made to suppliers beyond appointed date (under Section 16 of the Act) Not ascertained
d) Interest due and payable to suppliers under MSMED Act. N.A.
e) Interest accrued & remaining unpaid as at 31.03.2016 N.A.
f) Interest remaining due & payable as per Section 23 of the Act. N.A
2.29 The amount of borrowing cost capitalized during the year ` 1,680 (` 2,352) and borrowing cost adjusted in capital advance
Account for `1,448 (` 1,469).
2.30 In the opinion of the management and to the best of their knowledge and belief, the value on realization 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.
The debit/credit balances of parties are however, subject to confirmation and adjustment, if any.
2.31 Increase Decrease in Excise duty on closing stock of Finished Goods lying in factory is ` 5,914 (`23,575).
2.32 Provision has not been made for ` 1,286 (` 981) in respect of interest on additional external development charges demanded
by Directorate of Town and Country Planning, Haryana, Chandigarh in respect of Company’s land at village Baghola, Dist. Palwal,
Faridabad.
2.33. There is no amount pending transfer and due to be transferred to Investor Education & Protection Fund.
2.34 The disputed and unpaid dues on account of Income Tax, Sales Tax, Duty of Excise, Service Tax pending adjudication before
concerned authorities are as follows:
Name of the Statute Nature of Dues Amount (`) Amount (`) Forum Where dispute is
Current year Previous Pending
Year
Central Sales Tax Act, 1956 Central Sales Tax (F.Y 2000-01) 3,546 3,546 Revision pending before
Kolkata High Court
Central Sales Tax Act, 1956 Central Sales Tax (F.Y 2001-02) 9,452 9,452 Pending before Kolkata High
Court(State matter settled
under SOD Scheme)
Tribunal & High Court
63
CIN No. L63022WB1954PLC021638
(` In ‘000)
Year
Central Sales Tax Act, 1956 Central Sales Tax (F.Y 2003-04) Nil 2,614 State matter pending before
Revision Board (Central
matter settled under SOD
Scheme
Central Sales Tax Act, 1956 Central Sales Tax (F.Y 2004-05) 1,428 1,428 Appeal to be filed before
Revision Board
Central Sales Tax Act, 1956 Central Sales Tax (F.Y 2005-06) 5,646 5,646 Pending before Kolkata High
Court
Revision Board (State matter
settled under SOD Scheme)
Central Sales Tax Act, 1956 Central Sales Tax (F.Y 2007-08) 813 935 Revision pending before
Central Sales Tax Act, 1956 Central Sales Tax (F.Y 2008-09) 19 220 Revision pending before
Revision Board
Revision Board
Revision Board
Central Sales Tax Act, 1956 Central Sales Tax (F.Y 2012-13) 4,574 Nil Appeal pending before
Appellate Authority
W.B. Sales Tax Act, 1944 W.B. Sales Tax ( F.Y 2001-02) Nil 4,129 Pending before Kolkata High
Court(State matter settled
under SOD Scheme)
W.B. Sales Tax Act, 1944 W.B. Sales Tax ( F.Y 2002-03) 2,776 2,776 Revision pending before
Tribunal & High Court
W.B. Sales Tax Act, 1944 W.B. Sales Tax ( F.Y 2003-04) 1,579 1,579 State matter pending before
Revision Board (Central
matter settled under SOD
Scheme
W.B. Sales Tax Act, 1944 W.B. Sales Tax ( F.Y 2004-05) 1,955 1,955 Appeal to be filed before
Revision Board
W.B. Sales Tax Act, 1944 W.B. Sales Tax ( F.Y 2006-07) Nil 1,967 Revision pending before
W.B. Sales Tax Act, 1944 W.B. Sales Tax(F.Y. 2007-08) Nil 1,009 Revision pending before
W.B. Sales Tax Act, 1944 W.B. Sales Tax(F.Y. 2008-09) Nil 1,371 Revision pending before
64
(` In ‘000)
Year
W.B. Sales Tax Act, 1944 W.B. Sales Tax (F.Y 2009-10) 6 6 Revision pending before
Revision Board
Revision Board
Revision Board
Central Excise Act, 1944 CENVAT for Service Tax on Rent 419 419 Central Excise & Service Tax
(Rule 14 of CENVAT Credit (F.Y 2009-10) Appeals Tribunal (CESTAT),
Rule) New Delhi
Central Excise Act, 1944 Penalty under Central Excise NIL 509 Central Excise & Service Tax
(Rule 15(2) of C.Excise Rule) for wrong claim of CENVAT Appeals Tribunal (CESTAT),
(F.Y 2009-10) New Delhi
Central Excise Act, 1944 CENVAT on Tin Coating Charges NIL 11,586 Joint Commissioner of
(Rule 14 of CENVAT Credit on Cutting Tools (F.Y 2009-10) Central Excise, Delhi-IV,
Rule) Faridabad.
Income Tax Act, 1961 Short allowance of our Claim 640 640 Commissioner of Income Tax
u/s 80IC and Short allowance VI (Appeals)/Kolkata.
of TDS & Other. Asst. Year
2010-11
Income Tax Act, 1961 Short Allowance of Additional 26 0 Commissioner of Income Tax
Depreciation ` 7757, deduction VI (Appeals)/Kolkata.
u/s 80IC ` 1106, & TDS ` 26
Asst. Year 2013-14
2.35 Related Party Information
i) Person Having Control : Mr. P. K. Daga, Chairman cum Managing Director
Mr. Yashwant Kr. Daga, Vice-Chairman cum Joint Managing
Director
Relatives of above :
a) Smt. Asha Devi Daga
b) Smt. Nandini Daga
c) Mr. Shantanu Daga
ii) Key Management Personnel : a) Mr. K. S. Dev (Pr. Yr. Mr. B. P. Chaudhuri) – Chief
Executive (Operations),
b) Mr. Sunil Ghiya – Chief Operating Officer.
c) Mr. Maneesh Khanna – Chief Financial Officer
d) Mr. V. D. Mall – Company Secretary
iii) Enterprises over which persons having control : a) M/s. Deepak Spinners Limited
have significant influence
b) M/s. Brua Hydrowatts Pvt. Ltd
65
CIN No. L63022WB1954PLC021638
(` In ‘000)
Transaction with related parties : 31.03.2016 31.03.2015
a) Person having control – (Salary and perquisites) 12,365 7,945
b) Key Management Personnel (Salary and perquisites) 5,921 6,935
i) Advance given and subsequently Recovered 1,182 2,770
Balance Advance outstanding at the close of the year – –
c) Sales to Enterprises over which persons having control have significant influence 39,285 38,237
Balance Debtor outstanding at the close of the year 4,017 3,608
d) Closing balance of Investment in enterprises over which person having control have 50,000 50,000
significant influence.
Notes : Related party relationship on the basis of requirement of Accounting Standard 18 as above is pointed out and has been
relied upon by auditors.
2.36 Value of Imported/Indigenous Raw materials, Stores & Spares parts (including Packing Materials) consumed and percentage
thereof :
Raw Materials* Stores & Spare Parts**

Amount % of Total consumption Amount % of Total Consumption
31.03.2016 31.03.2015 31.03.2016 31.03.2015 31.03.2016 31.03.2015 31.03.2016 31.03.2015
Imported 16,011 7,984 1.19 0.54 2,545 3,172 1.13 0.95
Indigenous 13,29,385 14,57,844 98.81 99.46 2,21,997 3,32,001 98.87 99.05
13,45,396 14,65,828 100.00 100.00 2,24,542 3,35,173 100.00 100.00
* Includes inter unit transfer of Raw Materials `118,939 (` 124,458)
** Excludes imported machinery spares consumed `3,686 (` 2,959) used in machinery maintenance
2.37 Disclosures pursuant to Accounting Standard-15 “Employees Benefits”.
As per Accounting Standard 15 “Employees Benefit” the disclosure of Employees Benefit as defined in Accounting Standard are
given below
Defined Contribution Scheme :
i)
Contributions to Defined contribution Plan recognized as expenses for the year are as under :
Particulars Amount Amount
(`’000) (`’000)
2015-16 2014-15
Employers’ Contribution to Provident Fund (Govt.) 6,564 6,074
Employers’ Contribution to Family Pension Fund 10,674 8,533
Employers’ Contribution to Employees State Insurance 4,803 4,751
Defined Benefit Scheme :

ii)
a) In respect of Provident funds for eligible employees maintained by a trust, in the nature of defined benefit scheme up
to date shortfall, if any, as per actuarial valuation, in respect of contribution towards such funds is yet to be identified.
However contribution to those provident funds amounting to ` 2,099 (` 2,219) is recognized as expenses and included in
‘Employees Benefit Expenses’. Shortfall in the funds of ` Nil (` 55) towards such trustee funds has been provided to the
extent of the information available with the company.
b) The Company makes annual contribution of Gratuity to Gratuity Fund maintained by Trust created by the company for
the scheme. Eligible employees are entitled to gratuity benefit (at one half months eligible salary for each completed year
of service) on retirement / death / termination. Eligibility occurs upon completion of 5 years of continuous service. The
Employees of the company are also eligible for encashment of leave upon retirement. Refer Note No.1(e) of Accounting
Policies relating to Employees Benefit.
66
(` In ‘000)
Following are the further particulars with respect to gratuity and leave encashment:-
Gratuity Fund Leave Encashment

(Funded) (Unfunded)
2015-16 2014-15 2015-16 2014-15
1) Components of Employer Expenses
a) Current Service Cost 5,514 5,951 1,485 1285
b) Interest Cost 5,539 5,278 1,068 933
c) Expected Return on Plan Assets (5,255) (4,891) 0 0
d) Actuarial Loss/(Gain) 311 (5,733) (413) (865)
e) Total Expenditure 6,109 605 2,140 1,353
2) Net Assets/(Liability) recognized in the Balance Sheet as at 31st
March, 2016
a) Present value of Defined Benefit Obligation 69,904 68,195 13,953 12,673
b) Fair Value of Plan Assets 63,795 67,590 0 0
c) Net Assets/(Liability) recognized in Balance Sheet (6,109) (605) (13,953) (12,673)
3) Change in defined Benefit Obligation
a) Present Value of Obligation at beginning of Period 68,195 72,542 12,673 12,216
b) Current Service Cost 5,514 5,951 1,485 1,285
c) Interest Cost 5.539 5,278 1,068 933
d) Expected Return on Plan Assets – – – –
e) Actuarial (Gain)/Loss 317 (5,097) (413) (865)
f) Benefit Paid (9,661) (10,479) (860) (896)
g) Present Value of Obligation 69,904 68,195 13,953 12,673
4) Change in Fair Value of Assets
a) Plan Assets at beginning of Period 67,590 68,351 N.A. N.A.
b) Expected Return on Plan Assets 5,255 4,891 N.A. N.A.
c) Actual Company’s Contribution 605 4,191 860 896
d) Actuarial(Gain)/Loss 6 636 0 0
e) Benefit Paid (9,661) (10,479) 860 896
f) Plan Assets at the end of Period 63,795 67,590 0 0
5) Fair Value of Plan Assets
a) Fair Value of Plan Assets at the begining 67,590 68,351 0 0
b) Actual Return on Plan Assets 5,261 5,527 0 0
c) Employers Contribution 605 4,191 860 896
d) Benefit Paid (9,661) (10,479) (860) (896)
e) Fair Value of Plan Assets at the end 63,795 67,590 0 0
6) Actuarial Assumptions
a) Discount Rate (per annum) 8.00% 7.50% 8.00% 7.50%
b) Rate of Increase in Salaries 6.00% 7.00% 6.00% 7.00%
c) Rate of Return on Plan Assets 8.00% 8.00% 0 0
d) Mortality Rates IALM (2006-08) LIC (2006-08) IALM (2006-08) LIC (2006-08)
Ultimate Ultimate Ultimate Ultimate
7) Major Categories of Plan Assets as a percentage
a) Govt. Loans 39.61% 38.48% N.A. N.A.
b) PSU Bonds 58.24% 60.16% N.A. N.A.
c) Other Current Assets 2.15% 1.36% N.A. N.A.
67
CIN No. L63022WB1954PLC021638
(` In ‘000)
2.38 Segment Information
A) Information about Business Segment-Primary
Sl. Particulars Amount Amount
No. 2015-16 2014-15
1 Segment Revenue
1 Automobile Gear 2,274,328 2.306.012
2 Industrial Gears 689,719 727.742
3 Solar Power – Electricity 65,687 47,430
Sales/Income from operation 3,029,734 3,081,184
2 Segment Results
1 Automobile Gear 190,377 214,683
2 Industrial Gears (35,535) 30,204
3 Solar Power – Electricity 19,238 (3,314)
Total 174,080 248,201
Less : Interest 122,606 113,044
Un allocable Income (net of un-allocable expenditure) 143,065 120,940
Profit/(Loss) for the year before Tax 194,539 256,097
Less : Income Tax (Current Year) 41,518 53,679
Less : Adj of Mat Credit Entitlement 27,572 31,985
Less : Income Tax (Earlier Years) 0 (1,486)
Deferred Tax (36,817) (11,541)
Profit/(Loss) for the year after Tax 162,266 180,488
3 Other Information’s
a) Segment Assets
1. Automobile Gear 2,553,793 2,602,893
2. Industrial Gears 1,087,532 962,732
3. Solar Power – Electricity 330,298 370,235
4. Unallocable 150,589 187,761
Total 4,122,212 4,123,621
b) Segment Liabilities
1. Automobile Gear 421,137 530,812
2. Industrial Gears 1,448,894 1,255,432
3. Solar Power – Electricity 32,037 29,268
4. Unallocable 124,345 3,897
Total 2,026,413 1,819,424
4 Capital Expenditure
2 Industrial Gears 90,361 124,354
3 Solar Power – Electricity – –
4 Unallocable 183 469
Total 262,174 243,283
5 Depreciation
2 Industrial Gears 71,351 61,183
3 Solar Power – Electricity 38,904 38,904
4 Unallocable 146 94
Total 210,851 220,355
6 Non Cash Expenses Other than Depreciation
1 Automobile Gear – –
2 Industrial Gears – –
3 Solar Power – Electricity – –
4 Unallocable – –
Total – –
Note : The Company allocates un allocable expenditure incurred at Head Office to Kolkata Unit and Faridabad unit and Rudrapur Unit
in the ratio of 30:60:10 (30:60:10). The Kolkata Unit manufactures Industrial Gears only. Rudrapur Unit manufactures Automobile Gear
whereas Faridabad unit manufactures both Industrial Bear & Automobile Gear.
68
(` In ‘000)
B) Secondary Segment
The Company caters mainly to the needs of the Indian market and there is no reportable geographical segment.
Other Disclosure
1) There is no inter Segments revenue
2) Type of Products in each business segment
1. Automobile Gears – Tractor & Automobile Gears & Shaft, Moped/Motor Cycle Parts.
2. Industrial Gears – Helical Gear, Worm Gear Boxes, Geared Motors.
3. Solar Power – Electricity
2.39 Earnings in Foreign Currencies 2015-16 2014-15

Export (on F.O.B. Basis) 49,959 35,054
2.40 Expenditure in Foreign Currencies (as certified)
a) Traveling 1,356 1,108
b) Others 973 13
2.41 C.I.F. Value of Imported Materials
Raw Materials 12,093 8,223
Stores & Spares Parts 17,138 6,983
Capital Goods 164,849 29,949
2.42 Commission payable to non-executive Directors ` 800 (` 600) is subject to approval of accounts in Annual General Meeting.
2.43 Notes on CSR Expenditure

a) Gross amount required to be spent by the company during the year : ` 7,386 (` 8,684)
b) Amount spent during the year on :
In cash Yet to be paid in cash Total
(i) Construction/acquisition of any assets Nil Nil Nil
(ii) On purpose other than (i) above Nil Nil Nil
2.44. Figures for the previous year have been regrouped and/or recast wherever necessary.

For SINGHI & CO.
ANURAG SINGHI
Partner
69
CIN : L63022WB1954PLC021638
TPhone No.033-2248-2391/2/3 Fax No. 033-2243-9382
ATTENDANCE SLIP
Only Shareholders or the Proxies will be allowed to attend the meeting.
D.P.ID* L.F.No.
Client ID* No. of Shares held
I/ We hereby record my/our presence at the 61st Annual General meeting of the Company being held on
Thursday, the 29th September, 2016 at 2.00 P.M.at 16, Hare Street, Kolkata-700 001
Signature of Shareholder(s)
1. …………......................................…… 2. …………......................................…… 3. …………......................................……
Signature of the Proxy holder …………………………..................
*Applicable for investors holding shares in electronic form.
Note : Shareholders attending the meeting in person or by Proxy are requested to complete the attendance slip
and hand it over at the entrance of the venue of the meeting.
PROXY FORM
[Pursuant to Section 105(6) of the Companies Act, 2013 and rule 19(3) of the Companies
CIN : L63022WB1954PLC021638
Name of the Company : DEEPAK INDUSTRIES LIMITED
Registered office : 16, Hare Street, Kolkata-700 001
Name of the Member(s)
Registered Address
Email ID
Folio No./Client ID
DP ID
I/We, being the member(s) of …………………………………….. shares of the above named company, hereby appoint.
(1) Name……………...........…...........……… Address………………...................................…………......................……………
E-mail ID ………………................……………Signature ……………...............................................……. or failing him.
(2) Name……………...........…...........……… Address………………...................................…………......................……………
(3) Name……………...........…...........……… Address………………...................................…………......................……………
E-mail ID ………………................……………Signature ……………...............................................……........................

as my/our proxy to attend and vote (on a poll) for me/ our behalf at the 61st Annual General Meeting of the
Company, to be held on Thursday, the 29th September, 2016 at 2.00 P.M. at 16, Hare Street, Kolkata-700 001
and at any adjournment thereof in respect of such resolutions as are indicated below :
CIN : L63022WB1954PLC021638
TPhone No.033-2248-2391/2/3 Fax No. 033-2243-9382
ATTENDANCE SLIP
Only Shareholders or the Proxies will be allowed to attend the meeting.
D.P.ID* L.F.No.
Client ID* No. of Shares held
I/ We hereby record my/our presence at the 61st Annual General meeting of the Company being held on
Thursday, the 29th September, 2016 at 2.00 P.M.at 16, Hare Street, Kolkata-700 001
Signature of Shareholder(s)
1. …………......................................…… 2. …………......................................…… 3. …………......................................……
Signature of the Proxy holder …………………………..................
*Applicable for investors holding shares in electronic form.
Note : Shareholders attending the meeting in person or by Proxy are requested to complete the attendance slip
and hand it over at the entrance of the venue of the meeting.
PROXY FORM
[Pursuant to Section 105(6) of the Companies Act, 2013 and rule 19(3) of the Companies
CIN : L63022WB1954PLC021638
Name of the Company : DEEPAK INDUSTRIES LIMITED
Registered office : 16, Hare Street, Kolkata-700 001
Name of the Member(s)
Registered Address
Email ID
Folio No./Client ID
DP ID
I/We, being the member(s) of …………………………………….. shares of the above named company, hereby appoint.
(1) Name……………...........…...........……… Address………………...................................…………......................……………
(2) Name……………...........…...........……… Address………………...................................…………......................……………
(3) Name……………...........…...........……… Address………………...................................…………......................……………
E-mail ID ………………................……………Signature ……………...............................................……........................

as my/our proxy to attend and vote (on a poll) for me/ our behalf at the 61st Annual General Meeting of the
Company, to be held on Thursday, the 29th September, 2016 at 2.00 P.M. at 16, Hare Street, Kolkata-700 001
and at any adjournment thereof in respect of such resolutions as are indicated below :
If undelivered, please return to :
16, HARE STREET, KOLKATA - 700 001

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ANNUAL REPORT

FOR THE YEAR ENDED 31ST MARCH, 2016

Deepak Industries Limited

V. D. MALL COMPANY SECRETARY

SINGHI & CO. AUDITORS

STATE BANK OF INDIA BANKERS

Maheshwari Datamatics Pvt.Ltd REGISTRAR & SHARE TRANSFER AGENTS

DEEPAK INDUSTRIES LIMITED CORPORATE DETAILS

For Members holding shares in Demat Form and Physical Form

the system for the scrutinizer to verify the same.

By Order of the Board

Place: Kolkata V D MALL

Mint Investments Limited (Member in

DIVIDEND REC market remained near dormant.

For and on behalf of the Board

Pradip Kumar Daga (DIN : 00040692)

CS BINAY KUMAR PANDEY M/s. B K P & ASSOCIATES

Our report of even date is to be read along with this letter.

For B K P & ASSOCIATES

(CS Binay Kumar Pandey, ACS)

SECRETARIAL AUDIT REPORT

For B K P & ASSOCIATES

(CS Binay Kumar Pandey, ACS)

1. Air (Prevention and Control of Pollution) Act, 1981

Name of Director Category Directorship in other No of Committees No of

Name of the Director No of equity shares held as on 31st March, 2016

(II) AUDIT COMMITTEE

Name of the Member No of Meetings held No of Meetings attended

Name of the Member No of Meetings held No of Meetings attended

Shri Pradip Kumar Daga, 64,51,200 As Executive

Date Special Resolution Matter

Category No. of Shares Held % of Total Paid up Capital

From To No of Shares % of total paid-up No of % of Total No of

(XIX) PLANT LOCATION

CERTIFICATE ON CORPORATE GOVERNANCE

For Drolia & Company

Place : 9, Crooked Lane Pravin Kumar Drolia

Deepak Industries Limited

ix. Comparison of each remuneration of the Key Same as vi above.

OVERALL REVIEW AND INDUSTRY STRUCTURE AND DEVELOPMENT

• Cnc gear hobbing machine pfauter model pe150

FORM NO. MGT - 9

I. REGISTRATION AND OTHER DETAILS :

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES –

(ii) Shareholding of Promoters

(iii) Change in Promoters’ Shareholding (please specify, if there is no change)

Sl. For Each of the Top 10 Shareholding at the Cumulative Shareholding

Sl. Name Shareholding at the beginning Cumulative Shareholding during

2. PRAHLAD RAI BOHRA #

4. VIDYA DHAR JHUNJHUNWALA #

5. NAVIN AGRO INDUSTRIES LTD.

6. NAVIN UDYOG PROMOTIONS LTD.

7. SURESH KUMAR SOMANI *

9. RAJ KUMAR GHOSH #

Sl. Name Shareholding at the beginning Cumulative Shareholding during

11. RAJENDRA PRASAD CHOUDHARY*

12. SHIVAM AGARWAL

13. ICICI BANK LTD

14. JALPAIGURI HOLDINGS PRIVATE