Ann Rep 0311

CENTURY ENKA LIMITED
Annual Report 2010-2011
QUALITY driven!
45th Annual Report 2010-11
Forty Fifth Annual Report 2010-11

BOARD OF DIRECTORS
Mr. B. K. Birla (Chairman)
Mr. R. A. Shah
Mr. B. S. Mehta
Mr. S. K. Jain
Mr. G. M. Singhvi (Whole-time Director)
SECRETARY
Mr. C. B. Gagrani
AUDITORS
Messrs. Price Waterhouse
SOLICITORS
Messrs. Crawford Bayley & Co.
BANKERS
Bank of Maharashtra HDFC Bank
State Bank of India The Royal Bank of Scotland N.V.
Axis Bank
HEAD OFFICE REGISTERED OFFICE KOLKATA OFFICE

‘Bakhtawar’, 7th Floor Century Arcade, 2nd Floor Birla Building, 7th Floor
Nariman Point Narangi Baug Road 9/1, R. N. Mukherjee Road,
Mumbai-400 021. Pune - 411 001. Kolkata-700 001.
Tel. No. 022-4321 5300 / 2202 7375 Tel. No. 020-2616 6511 Tel. No. 033-2243 6003
Fax No. 022-4321 5353 / 2287 3952 Fax No. 020-2616 6511
FACTORIES
Bhosari, Pune-411 026 Rajashree Polyfil

Tel. No. 020-66127300/27120423 Rajashree Nagar, Post: Umalla-393120
Fax No. 020-27120113 Dist.: Bharuch
Tel. No. 02640-308555
Fax No. 02640-308510
Raigad Processors Konkan Synthetic Fibres
Plot No. C-61, Part-A, MIDC Area, Plot No. C-61, Part-B, MIDC Area
Mahad-402 309, Dist.: Raigad Mahad-402 309, Dist.: Raigad
Tel. No. 02145-232136 Tel. No. 02145-232138
Fax No. 02145-232142 Fax No. 02145-232360
SHARE TRANSFER AGENT

LINK INTIME INDIA PRIVATE LIMITED
C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai-400 078
Tel. No.: 022-2594 6970; Fax No.: 022-2594 6969
CONTENTS
Notice .............................................................................................................................02-03
Directors’ Report ............................................................................................................ 04-07
Management’s Discussion and Analysis ........................................................................ 08-10
Corporate Governance Report ...................................................................................... 11-18
Auditors’ Report ..............................................................................................................19-21
Balance Sheet ................................................................................................................... 22
Profit & Loss Account ........................................................................................................ 23
Cash Flow Statement ........................................................................................................ 24
Schedules ‘A’ To ‘I’ ..........................................................................................................25-37
Additional Information Pursuant to Part IV of Schedule VI................................................. 38
1
NOTICE TO THE SHAREHOLDERS 2. To declare dividend on Equity Shares.
NOTICE is hereby given that the 45th Annual General 3. To appoint a Director in place of Mr.R.A. Shah who
Meeting of the Shareholders of CENTURY ENKA LIMITED retires by rotation and being eligible offers himself for
will be held at Pudumjee Hall, Mahratta Chamber of reappointment.
Commerce, Industries and Agriculture, Tilak Road, Pune-
411 002 on Friday, the 1st July, 2011 at 11.30 A.M. to 4. To appoint a Director in place of Mr.B.S. Mehta who
transact the following business: retires by rotation and being eligible offers himself for
reappointment.
ORDINARY BUSINESS
5. To appoint Auditors and to fix their remuneration.
1. To consider the Report of the Auditors and Directors
By Order of the Board
and to receive, consider and adopt the Audited
Statements of Accounts for the year ended 31st Place : Mumbai C. B. GAGRANI
March, 2011. Date : May 02, 2011 Secretary
NOTES: date of the meeting to enable the Management to

keep the required information readily available at
1. A MEMBER ENTITLED TO ATTEND AND VOTE AT the meeting.
THE ABOVE MEETING IS ENTITLED TO APPOINT
ONE OR MORE PROXIES TO ATTEND AND VOTE 5. (i) The unclaimed dividend upto financial years 1994-
INSTEAD OF HIMSELF AND A PROXY NEED NOT 95 have been transferred to the General Revenue
BE A MEMBER. Account of the Central Government in terms of the
provisions of Section 205A of the Companies Act,
2. The Register of Members and Share Transfer Register 1956. Those shareholders who have so far not
of the Company will remain closed from Friday, the claimed their dividend for the financial years upto
17th June, 2011 to Monday, the 27th June, 2011, both 1994-95 may claim their dividend from the Registrar
days inclusive on account of Annual General Meeting of Companies, Maharashtra, Pune by submitting
and Dividend payment. an application in the prescribed form.
3. The payment of dividend, if declared at the said (ii) Those members who have not encashed dividend
meeting, will be made to those shareholders whose warrant for the financial years 2003-04 to 2009-
names shall appear on the Company’s Register of 10 may return the time barred dividend warrant or
Members on 27th June, 2011 or to their nominees. write to the Company’s Share Transfer Agent, M/s.
In respect of shareholding in dematerialised form, Link Intime India Private Limited, C-13, Pannalal
dividend will be paid to the beneficial owners as per Silk Mills Compound, L.B.S. Marg, Bhandup
details to be furnished by the Depositories for the (West), Mumbai - 400 078 for issue of duplicate
purpose. Dividend Warrants will be dispatched or dividend warrant.
credit will be given under National Electronic Clearing
Services (NECS) / Electronic Clearing Services (ECS) (iii) Pursuant to the provisions of Section 205A of the
as the case may be on or after 5th July, 2011. Companies Act, 1956, as amended, dividend for
the financial year 2003-04 and thereafter which
4. Members desirous of getting any information about remain unclaimed for a period of 7 (seven) years
the accounts and operations of the Company are will be transferred to the Investor Education
requested to address their query to the Secretary and Protection Fund (the Fund) constituted by
at the Registered Office well in advance so that the the Central Government under Section 205C of
same may reach him at least 10 days before the the Companies Act, 1956. Unclaimed Equity
2
Dividend for the financial year 2003-04 will The NECS / ECS Mandate Proforma can be obtained
fall due for transfer to the said Fund on 29th from the Company’s Share Transfer Agent, M/s. Link
July, 2011. Intime India Private Limited at the address mentioned
hereinbelow in Note 7 or can be downloaded from the
As regards unclaimed dividend for the financial Company’s website www.centuryenka.com.
years 1995-96 to 2002-03, the same have already
been transferred to the said Fund. 7. In terms of provisions of Section 109A of the
Companies Act, 1956, nomination facility is available
It may kindly be noted that once the unclaimed to individual shareholders. The shareholders
dividend is transferred to the abovesaid Fund who are holding shares in physical form and are
of the Central Government, no claim shall lie in desirous of availing this facility may kindly write to
respect thereof. the Company’s Share Transfer Agent, M/s. Link
Intime India Private Limited, C-13, Pannalal Silk
6. Dividend in respect of shares held in dematerialised Mills Compound, L.B.S. Marg, Bhandup (West),
form shall be credited to the beneficial owner’s bank Mumbai - 400 078 for nomination form quoting
account directly through NECS / ECS wherever NECS/ their folio number. Shareholders holding shares in
ECS facility is available subject to availability of bank dematerialised form, should write to their Depository
account details / core banking account number and Participant for the purpose.
9 digits code number. In case the said details have
not been provided to the concerned Depository 8. Members who are holding shares in identical order of
Participant or there is any change, the same may names in more than one folio, are requested to write
please be intimated to the concerned Depository to the Company’s Share Transfer Agent at the address
Participant immediately. mentioned hereinabove in Note 7 to consolidate their
holding in one folio.
Shareholders holding shares in physical form and
desirous of availing NECS / ECS facility, should 9. Members who are holding shares in physical form
provide the bank details / core banking account are requested to notify change in address, if any,
number and 9 digits code number in NECS / ECS to the Company’s Share Transfer Agent at the
Mandate Proforma. Shareholders who have already address mentioned hereinabove in Note 7 quoting
given their Bank details to avail NECS / ECS their folio number. Shareholders holding shares in
facility should furnish the same only if there is any dematerialised form, should intimate change of their
change. address, if any, to their Depository Participant.
Important Communication
The Ministry of Corporate Affairs, vide its Circular No.18/2011 dated 29th April, 2011, clarify that as a
measure of "Green initiative in Corporate Governance" it will be in compliance, if the Annual Report
(i.e. documents listed in section 219(1) of the Companies Act,1956) is sent through e-mail. To support
this green initiative, members holding shares in demat form are requested to provide their e-mail ID
to the depository through their concerned depository participant and members holding shares in
physical form are requested to provide e-mail ID to the Company's RTA, M/s.Link Intime India Pvt.
Ltd. by filling the form available on the Company's website and also update the e-mail address as and
when there is any change.
3
DIRECTORS’ REPORT deals with the opportunities and challenges faced by your
Company and the outlook for the future.
FOR THE YEAR ENDED 31ST MARCH, 2011
Your Company would like to add that in view of high crude oil
Dear Shareholders, prices in the international market, the prices of raw material
and fuel oil are likely to remain firm in the current financial year
We have pleasure in presenting the 45th Annual Report and and may cause pressure on profit margins. However, with the
Audited Statements of Accounts of the Company for the recently completed capital expenditure of about Rs. 200 crores,
year ended 31st March, 2011. The overall performance of your Company is hopeful of improved performance in the current
the current year was satisfactory inspite of high raw material financial year.
and fuel oil prices and lower sales of Nylon Tyre Cord Fabric
(NTCF). The lower off-take of NTCF by the tyre companies With growing Indian economy and good demand growth in end-
was mainly due to labour unrest at their factories and high used products i.e. synthetic textile and automobile tyres, the
level of imports of bus & truck tyres in the third quarter of long-term outlook remains positive.
the financial year that forced tyre companies to cut their
production. EXPANSION & MODERNISATION
FINANCIAL RESULTS The trial runs in connection with capacity expansion of Nylon
Tyre Cord Fabric (NTCF) by 7500 tons per annum have been
Rs. / Lacs completed and process conditions are being stabilised for
regular commercial production as per the requirements of tyre
This Year Previous
companies. It is expected to achieve full capacity utilization
Year
within 3 months. 13 MW gas based power plant has been
Sales / Income from Operations successfully commissioned at Pune site. There is some delay
(Less Excise Duty) 134433 123087 in installation of 4 MW LNG gas based power plant at Bharuch.
Profit before Depreciation, The same is now expected to be commissioned by the third
Interest, Exceptional Items quarter of current financial year.
and Tax 17792 22437
Most of the modernisation and de-bottlenecking projects
Add / (Less): undertaken by the Company have been completed. The
Depreciation (6115) (6106) installation of new Nylon Polymerisation capacity is on hold and
Interest (Net) (1058) (741) will be reviewed in due course.
Taxation (Net) (2683) (5238)
Voluntary Retirement (336) HUMAN RESOURCE DEVELOPMENT AND ENVIRONMENT
compensation
The report on Management’s Discussion and Analysis includes
Net Profit 7936 10016 its observations on human relations, approach to human
Add: B
alance brought forward from resource development, safety, health and environment.
previous year 18616 11629
The Company provides a fair and equitable work environment
Profit available for appropriation 26552 21645 to all its employees, and with support from their seniors, is fully
Less :Dividend 1420 1311 engaged in developing their skills. The Company is continuously
Tax on Dividend 231 218 working to create and nurture an atmosphere which is highly
General Reserve 1500 1500 motivated, result-oriented and adaptable to changing business
Balance carried forward to environment.
next year 23401 18616 The Directors place on record their appreciation for workmen,
staff and management in bringing improvement at all levels in
DIVIDEND factories and offices of the Company and effective response to
changing environment.
We recommend a dividend at the rate of 65% (i.e. Rs. 6.50 per
Equity Share of Rs.10/- each) for the year ended 31st March, CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION,
2011 (Previous year 60% i.e. Rs.6/- per Equity Share of Rs.10/- FOREIGN EXCHANGE EARNINGS AND OUTGO
each).
Particulars in respect of conservation of energy, technology
COURSE OF BUSINESS AND OUTLOOK absorption and foreign exchange earnings and outgo, as
required by the Companies (Disclosure of Particulars in the
As required under Corporate Governance, the Management’s Report of Board of Directors) Rules, 1988 are set out in a
Discussion and Analysis Report which is forming a part of this separate statement attached hereto and forming part of the
report, is a reflection of the current state of business. It also report.
4
CORPORATE GOVERNANCE DIRECTORS

Your Company reaffirm its commitment to Corporate In accordance with Articles of Association of the Company, Mr.R. A.
Governance and is fully compliant with the conditions of Shah and Mr.B. S. Mehta, Directors of the Company will retire by
Corporate Governance stipulated in clause 49 of the Listing rotation and being eligible, offer themselves for re-appointment.
Agreement with the Stock Exchanges. A separate section on
compliance with the conditions of Corporate Governance and AUDITORS
a Certificate from the firm of practising Company Secretaries Messrs. Price Waterhouse, the Auditors of the Company will
dated 2nd May, 2011 in this regard is annexed hereto and retire from the office of the Auditors and being eligible offer
forms a part of the Report. themselves for re-appointment. Their remuneration for the
current year is to be fixed by you.
DIRECTORS’ RESPONSIBILITY STATEMENT
Pursuant to the requirements of Section 217(2AA) of the COST AUDITORS
Companies Act, 1956 and on the basis of explanation and The Cost Accounts records maintained by your Company for
compliance certificate given by the executives of the Company, the products - Polyester and Nylon are subject to yearly audit by
and subject to disclosures in the Annual Accounts and also qualified Cost Auditors. Your Company has appointed M/s. N.I.
on the basis of discussions with the Statutory Auditors of the Mehta & Co., a firm of Cost Auditors for conducting the audit of
Company from time to time, we state as under: such records for the financial year 2010-11.
i) that in the preparation of the annual accounts, the
applicable accounting standards had been followed; PARTICULARS OF EMPLOYEES
Pursuant to the provisions of Section 217 (2A) of the Companies
ii) that the directors had selected such accounting policies Act, 1956 read with the Companies (Particulars of Employees)
and applied them consistently and made judgments and Rules, 1975 as amended, the names and other particulars of
estimates that are reasonable and prudent so as to give employees are set out in the Annexure to the Directors’ Report.
a true and fair view of the state of affairs of the Company However, as per the provisions of Section 219(1)(b)(iv) of the
at the end of the financial year and of the profit of the said Act, the Annual Report excluding the aforesaid information is
Company for that period; being sent to all members of the Company. Any member, who is
iii) that the directors had taken proper and sufficient care interested in obtaining such particulars about employees may write
for the maintenance of adequate accounting records to the Company Secretary at Registered Office of the Company.
in accordance with the provisions of the Companies For and on behalf of the Board of Directors
Act, 1956 for safeguarding the assets of the Company B. K. Birla
and for preventing and detecting fraud and other G. M. Singhvi
irregularities; and (Directors)
iv) that the directors had prepared the annual accounts on a Place : Mumbai
going concern basis. Date : May 02, 2011
ANNEXURE TO THE DIRECTORS’ REPORT 5• Replacement of conventional screw by barrier screw

in spinning machine.
(Additional information given in terms of Notification 1029 of
6• Stoppage of one cooling tower pump by optimising
31.12.1988 issued by the Department of Company Affairs)
cooling water consumption.
(A) CONSERVATION OF ENERGY
7• Replacement of existing reciprocating compressor
The Company is engaged in the continuous process of with centrifugal compressor.
energy conservation through improved operational and
maintenance practices : b) Additional Investment and Proposals, if any, being
implemented for conservation of Energy.
a) Energy Conservation measures taken :
1• Further optimisation of compressors for low pressure
1• Optimisation of compressors for low pressure applications.
applications.
2• Further replacement of existing chiller with energy
2• Replacement of existing chillers with energy efficient efficient chiller.
chillers.
3• Installation of vapor absorption chiller to recover
3• Optimisation of vacuum system in dryers. process waste heat.
4• Optimisation of air handling units to reduce air flow 4• New PTA conveying system in POY plant.
and cooling load.
5
c) Impact of Measures at (a) and (b) above for reduction b) Technology Absorption, Adaptation & Innovation
of energy consumption and on the cost of production
(i) Efforts in brief, made towards technology
of goods :
absorption, adaptation & innovation
The above measures have resulted in reduction in
consumption of electricity and fuel oils with consequent 1• A
doption of technology for air texturising
reduction in the cost of production. process.
d) Total energy consumption and energy consumption 2• Retrofitting to existing spinning winding machines
per unit of production as per prescribed Form - A for productivity increase.
given hereafter. (ii) Benefits derived as a result of above efforts
(B) TECHNOLOGY ABSORPTION 1• New product development.
Efforts made in Technology absorption as per Form - B 2• Improvement in capacity utilisation.
a) Research & Development ( R & D) (iii) Future Plan of Action

(i) Specific areas in which R & D is carried out by 1• Adoption of technology for natural gas for power
the company : generation and process heating
1• Productivity enhancement of spinning machines 2• Development of universal station for polyester
and depoly plant. plant DCS.
2• Development of new products. (iv) Information regarding imported technology
3• Development of indigenous spin finish for
[Imported during the last 5 years (from the
improving quality of yarn.
beginning of the financial year)]
4• Further development of fully drawn yarn
with alternate route on Nylon POY spinning 1• Technology imported : NIL
machines. 2• Year of import : Not applicable
5• Modifications in spinning machines to improve
3• Has the technology been fully absorbed : Not
operability of machine.
applicable
6• Further development and indigenisation of spares
through local vendors. (C) FOREIGN EXCHANGE EARNINGS AND OUTGO
7• Modifications of paper tube of winding machine 1• Activities relating to exports, initiatives taken to increase
for better performance and cost reduction. exports, development of new export markets for products
(ii) Benefits derived as a result of the above R & D and services and export plans:
1• Reduction in operating and maintenance cost. Due to poor off-take and lower sales realisation in
2• Improvement in quality, customer satisfaction and case of Polyester Chips in domestic market, special
enlargement of market base. efforts were made to export some quantity to
countries like Bangladesh and USA. The Company
(iii) Future Plan of Action was successful in exporting Polyester Chips and
1• Productivity enhancement of draw winder some quantity of Nylon Filament Yarn & Nylon Chips
machines. worth Rs.425 lacs during the year. The Company is in
2• Development of new products. the process of identifying more value added products
for export market in the current financial year.
3• Conversion of self quenching technology to cross
flow POY spinning for specific application. 2• Total foreign exchange used and earned is contained in
Schedule I item 17(c),(d),(e) and (f) in notes on Accounts.
(iv) Expenditure on R & D
Rs. Lacs
2010-11 2009-10
1• Capital (See Note Below)
2• Recurring 195 105
3• Total 195 105
Total R & D expenditure as a
4• 0.13% 0.09%
percentage of total turnover
Note: The Company has spent Rs.75 lacs (Previous year

Rs. 48 lacs ) and shown as normal Capital Expenditure,
although it is also used for R & D activities.
6
(PURSUANT TO SECTION 217 (1) (e) OF THE COMPANIES ACT, 1956)

FORM - A (SEE RULE 2)
FORM FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO CONSERVATION OF ENERGY
Current Previous Current Previous

A. POWER AND FUEL CONSUMPTION Year Year Year Year
2010-11 2009-10 2010-11 2009-10
POWER (b) (i) Solid Biomass Briquettes
1. ELECTRICITY Consumption
(a) Purchased Quantity (Kgs) - 1080310
Units (KWH) 112033250 61934866 Total Amount (Rs. in Lacs) - 41.08
Total Amount (Rs. in Lacs) 6307.68 3488.85 Rate/Unit (Rs.) - 3.80
Rate per Unit (Rs.) 5.63 5.63 (c) Purchased
(b) Own Generation Units (Ton) 55224 37401
(i) Through Generators Cost per unit (Rs.) 1365 1236
Units (KWH) 89217801 136967127 3. OTHER FUEL (Used for

Process Heating)
Units per Litre of fuel oil 4.41 4.51
(i) Furnace Oil
Cost per unit (Rs.) 5.93 4.99
Quantity (Kgs) 5396382 7157130
(ii) Through Gas Engines
Total Amount (Rs. in Lacs) 1391.49 1577.53
Units (KWH) 350199 -
Rate/Unit (Rs.) 25.79 22.04
Units per SCM of Natural Gas 4.67 -
(ii) Heat Purchase
Cost per unit (Rs.) 5.09 -
Units (K.Cal in Lacs) 188878 13914
(iii) Fuel Consumption (For Own
generation) Total Amount (Rs. in Lacs) 325.86 25.05
- F.O./ L.D.O. Cost per unit (Rs.) 172.52 180.03
Quantity (Kgs) 20220222 30400041

B. ENERGY CONSUMPTION PER
Total Amount (Rs. in Lacs) 5293.78 6830.73
UNIT OF PRODUCTION
Rate/Unit (Rs.) 26.18 22.47
PRODUCTS (With Details) UNIT
- Natural Gas Consumption
1. ELECTRICITY (Kwh/Ton of
Quantity (SCM) 74909 - Product)
Total Amount (Rs. in Lacs) 17.82 - (a) Synthetic Textile Yarns 1720 1701
' Rate/Unit (Rs.) 23.79 - (b) Industrial Yarn / Fabric 3526 3444
2. STEAM (c) Polyester Chips 129 127
(a) (i) Furnace Oil Consumption 2. STEAM (Tons / Ton of Product)
Quantity (Kgs) 5225091 5292673 (a) Synthetic Textile Yarns 1.6 1.7
Total Amount (Rs. in Lacs) 1394.85 1174.69 (b) Industrial Yarn / Fabric 2.5 2.6
Rate/Unit (Rs.) 26.70 22.19 (c) Polyester Chips 0.3 0.3
(ii) Own Generation
Note: Previous years figures have been regrouped and
Units (Ton) 120671 142166 rearranged, wherever necessary.
Units per Ton of fuel 23.96 21.72
Cost per unit (Rs.) 1156 855
7
MANAGEMENT’S DISCUSSION AND ANALYSIS

1. OVERALL REVIEW derivatives increased sharply and so did raw material
During the year under review, the Company’s overall prices. Cotton was in short supply globally and prices
performance was satisfactory inspite of several restraining doubled during the year. This gave impetus to growth in
factors. The prices of raw materials namely, Purified demand for competing fibres - polyester and nylon yarns.
Terephthalate Acid (PTA), Mono Ethylene Glycol (MEG) and Major investments continued to be made in polyester yarn
Caprolactam as well as Furnace oil used for captive power on the back of sustained double digit growth in polyester
generation continued upward trend and were at all time high yarn demand. Nylon textile yarn market also expanded,
in the fourth quarter of 2010-11 as shown in Exhibits 1,2,3 & however surge in imports is a cause of concern. Shortage
4 below. Shortage of PTA in the domestic and global market of PTA forced polyester chips producers to operate at
affected Polyester Chips production. Sales of Nylon Tyre lower capacity.
Cord Fabric (NTCF) were also affected because of lower Demand for NTCF was affected as there were lock-outs
demand and sustained higher level of imports from China at two major tyre companies in the first half of 2010-11
and Taiwan. coupled with sustained higher level of NTCF imports from
2. INDUSTRY STRUCTURE, DEVELOPMENT & OUTLOOK China and Taiwan. Large imports of truck & bus tyres
resulted in substantial surplus availability of tyres in the third
In 2010-11, all commodity prices including petroleum quarter of 2010-11. As a result, most of the tyre companies
Exhibit -1 Exhibit -2
PTA Price Trend MEG Price Trend

Source: ICIS Lor Source: ICIS Lor
65
75
60
70
55
65
50
60
Rs.kg
Rs.kg
45
55
50 40
45 35
40 30
r
r
b
b
ct
ct
Ap
Ap
n
n
g
c
Fe
Fe
Ju
Ju
O
O
De
De
Au
Au
2009-10 2009-10
2010-11 2010-11
Exhibit -3 Exhibit -4
Caprolactam Price Trend Furnace Oil Price Trend

Source: ICIS Lor 35
175 33
165 31
155 29
145 27
Rs.kg
Rs.kg
135 25
125
23
115
21
105
19
95
17
85
15
75
2009-10 2009-10
r
b
ct
Ap
c
r
Fe
b
Ju
ct
Ap
De
Au
g
Fe
Ju
2010-11
O
De
Au
2010-11
8
were forced to cut production starting November 2010. Company continues to follow a policy of hedging foreign
Consequently, NTCF sales slumped. currency exposure within the permissible RBI guidelines.
On the positive side, a sustained higher GDP growth will In the area of energy cost and hazard management, special
augur well for the demand of polyester and nylon textile attention is given to replacement of old and obsolete electrical
yarns and NTCF. The overall outlook is good. equipment, instrumentation, process control software,
electric cables, etc. To address environmental concerns
3. THREATS and changing environment laws, the Company continues to
• Civil unrest in crude oil producing middle-east countries use green bio-mass fuel viz. bagasse, briquettes etc. in the
has resulted in crude oil price firming to US $ 120 per furnaces for primary heating system and steam generation.
barrel in March 2011 up from US $ 50 in March 2009. Price The Company has commissioned gas based engines for
of furnace oil at Rs.34/- per kg in March 2011 is almost at captive power generation to reduce emissions at Pune site.
the peak level. It will result in higher energy cost. At Bharuch site, gas based engines are expected to be
• There has been a steep increase in raw material cost. commissioned in the third quarter of 2011-12.
Industry may not be able to entirely pass on the steep The Company is installing a dipping plant for NTCF at
increase in costs to consumers and may impact profit Bharuch site. The dipping capacity is expected to commence
margins. commercial production by June, 2011. This will help to
• Creation of new capacities in polyester yarn is likely to out- reduce the market led business risk of the Company by
pace the demand growth. It may lead to price instability offering dipped NTCF to customers.
and pressure on profit margins.
7. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
• Radialisation of truck & bus tyres, presently at 12% of the The internal control systems of the Company are effective
total demand, is expected to pick up faster than earlier
and adequate for business processes with regard to
projection. Since Steel Tyre Cord is used in place of NTCF
efficiency of the operations, compliance with applicable
for truck & bus radial tyres, the demand for NTCF may get
laws and regulations, financial reporting, etc. which
de-accelerated.
commensurate with the size and complexities of the
4. OPPORTUNITIES operations. It provides a reasonable assurance on internal
control environment against material mismanagement or
A resilient Indian economy with inclusive growth loss. The capital budgetary control system is in place to
encompassing all round rural development will ensure higher ensure that actual spending is in line with budgeting.
GDP growth rate. Overall rising incomes and changing life-
style will increase demand for textiles and open-up avenues The Company has engaged professional firms of Chartered
for textile yarns. The Company sees an opportunity in the Accountants to conduct internal audit which is required to
area of Polyester Tyre Cord Fabric on the back of double digit be carried out as per law. The internal auditors review the
sustained growth in passenger car segment. The Company adequacy of control systems and suggest improvements.
is exploring possibilities of engaging into this activity. The internal auditors have expressed their satisfaction about
the adequacy of the control systems and the manner in which
5. COMPANY OUTLOOK the Company is updating its systems and procedures to
Prices of raw material, furnace oil and other inputs increased meet the challenging requirements of business needs. The
significantly in the last quarter of 2010-11. Volatility and high Audit Committee of Directors enquired with the Management
raw material prices may affect profit margins of the Company about the quality and depth of the control systems and
in the coming year. offered suggestions for improvements.
Capex of over Rs. 200 crores committed by the Company 8. INFORMATION TECHNOLOGY
for expansion of nylon textile yarn, NTCF, dipping plant The Company uses Information Technology to provide
for NTCF and gas based power plant will lead the growth reliable, contemporary and integrated business processes
in revenue and profit. Installation of gas based engines which enables it to improve all round operational
for power generation will address environmental concerns efficiencies.
without increasing energy cost.
To achieve these objectives, the Company has successfully
The Company is in the industrial commodity business, consolidated Information Technology systems into single
and as such the vast domestic market and growing Indian instance database during the year. This has improved
economy offers good growth opportunities. The long term productivity of users with smooth workflow across all functions
outlook of the Company remains positive. of the organisation. This has also improved consistency in
6. RISK MANAGEMENT management practices applied across all the systems.
Risk management policy is periodically examined and During the year, the Company extended IT systems through
updated to tackle prevailing operating conditions. The internet to include direct participation of customers and
suppliers in supply chain management.
9
9. DISCUSSION ON FINANCIAL PERFORMANCE WITH Industrial relations continue to be cordial. Regular

RESPECT TO OPERATIONAL PERFORMANCE communication meetings are held with the workmen
representatives to exchange views and to address mutual
issues. It is noteworthy that not a single manday has been
Highlights lost during the year on account of labour relations at any of
the manufacturing plants of the Company.
(Rs.Lacs)
2010-112009-10Change% The strength of permanent employees as on 31st March,
2011 is 1578 Nos. (as on 31st March, 2010 : 1591 Nos.).
Sales 148465 132703 12%
11. SAFETY, HEALTH & ENVIRONMENT (SHE)
Profit before Depreciation, Interest,
The Company firmly believes that without a safe, clean
Exchange Fluctuation, Exceptional
environment and healthy working conditions overall
Items and Tax 18020 22998 22%
economic growth cannot be achieved and maintained. The
Depreciation (6115) (6106) - Company looks at SHE as its corporate social responsibility
Interest Expenditure (1305) (1084) 20% and focuses on energy conservation and maintaining a clean
sustainable environment by promoting usage of eco-friendly
Interest Income 247 343 28% fuels, recycling of waste and water.
Impact of Foreign Currency rate SAFETY
Fluctuation (Net) (228) (561) 59% The Bharuch plant bagged “Winner Rotating Shield” and
Exceptional Item – VRS - (336) - “Certificate of Honor” from Gujarat Safety Council for
contribution in strengthening voluntary efforts for achieving
Taxation (Net) (2683) (5238) 49% excellence in safety. The plant also organised programmes
Net Profit 7936 10016 21% on safety related topics with the help of outside trainer and
counsellor in this field. The Pune plant organised various
Earning Per Share (in Rs) 36.47 49.61 26% training programmes through external agencies for creating
Cash Earning Per Share (in Rs) 64.57 79.85 19% safety awareness. As part of a social activity, the plant
imparted free training on “Accident Prevention and Fire
Fighting” to small / medium scale industries located in the
vicinity. In addition, numerous fire calls in the surrounding
Sales: In quantitative terms, the sale of NTCF is lower by areas were attended by Safety Department and the
about 11%. This is mainly on account of lower off-take by tyre Fire Tender.
companies. However, in terms of sales value, the turnover is
HEALTH
higher by 12%. This is mainly on account of input cost push
resulting from higher raw material and energy costs. The Company has organised various programmes on health
issues such as :
Profit Before Depreciation, Interest and Tax (PBDIT): a. A training program on ‘HIV/AIDS’ awareness for
PBDIT was low, partly on account of lower sales of NTCF Bharuch plant employees with the help of Apollo Tyres.
and partly on account of higher raw material and energy b. A medical camp for orphanage students at Umalla,
costs which could not be passed on to the customers. Bharuch District.
c. Eye check-up, cataract operation and spectacles
10. HUMAN RESOURCES AND INDUSTRIAL RELATIONS distribution camp for surrounding villages near Bharuch
Human resource is one of the key elements to achieve the plant and hundreds of patients were benefited. The
objectives and strategies of the Company. The Company, camp was a grand success.
therefore, looks at its employees as ‘Capital Asset’. d. A health check-up camp for school students of Vali
It provides to its employees a fair and equitable work village, Bharuch District.
environment in which senior colleagues provide ample e. Free Medical Check-up for staff and workers at Pune.
support to their junior colleagues with a view to develop
ENVIRONMENT
their skills and capabilities. The Company continuously
works to nurture this environment to keep its employees To protect the environment, the Company has recently
highly motivated, result-oriented and adaptable to changing replaced the existing furnace oil based engines with gas
business environment. In the beginning of the year, a special based engines for power generation. This will reduce
week long programme was held for middle and senior level emissions of Green House Gases. The Company is also
executives to encourage goal setting and team bonding. The using green bio-mass viz. bagasse, briquettes etc. for
Company organized number of developmental activities for primary heating system and steam generation.
staff & officers ranging from behavioural training, exposure The Bharuch plant celebrated World Environment Day in
to latest trends in technology etc. presence of Gujarat Pollution Control Board officials and planted
about 3300 saplings with the participation of its employees.
10
CORPORATE GOVERNANCE REPORT

Company’s Philosophy on Corporate Governance
Good Governance is an integral part of the Company’s business practices based on the philosophy of Trusteeship. The core value
of the Company’s business practices are derived from the four pillars of Trusteeship, i.e. transparency, adequate disclosure,
fairness to all and independent monitoring and supervision. The strong internal control systems and procedures, risk assessment
and mitigation procedures and codes of conduct for observance by the Company’s directors and employees are conducive in
achieving good Corporate Governance practices in the Company.
A detailed disclosures on the Board of Directors, Shareholders and Stock Performance are given herebelow :
1. Board of Directors
The total number of directors on the Board as on date of this report is five. Out of five, four are non-executive directors and
three of them are independent. There is one Whole-time Director. The non-executive directors are eminent and experienced
professionals drawn from the field of industry, finance and law.
The day to day management is conducted by the Whole-time Director of the Company subject to superintendence, control and
direction of the Board of Directors.
Directorship held by Directors of Century Enka Limited :
No. of outside Membership Chairmanship

No. of shares
Name of the Executive/Non Executive / Directorship in held in held in
held in the
Director Independent/Promoter Public Limited Committee of Committee of
Company
Companies * Directors # Directors #
Mr. B. K. Birla Non Executive & Promoter 22,360 4 - -
Mr. R. A. Shah Non Executive & Independent 250 14 9 5
Mr. B. S. Mehta Non Executive & Independent 8,540 14 9 5
Mr. S.K. Jain Non Executive & Independent 125 - - -
Mr. G.M. Singhvi Executive - Whole-time Director - - - -
* This excludes directorship held in Private Companies, Foreign Companies, Companies formed under section 25 of the
Companies Act, 1956 and directorship held as an alternate director.
# Membership/Chairmanship in Committee of Directors include Audit Committee and Shareholders/ Investors Grievance Committee
of Directors only. This does not include Membership/Chairmanship in Committee of Directors of Century Enka Limited.
2. Number of Board Meetings and Attendance Record of Directors
The Board meets at least once in a quarter to consider amongst other business the performance of the Company and financial
results. The particulars of Board Meetings held during 2010-11 as well as attendance of Directors at the Board Meetings and
the last AGM are given herebelow :
Details of Board Meetings :
Number of Board Meetings held during 2010-11 : 5

Sr.No. Date of Board Meeting Sr.No. Date of Board Meeting
1 03.05.2010 4 01.11.2010
2 02.07.2010 5 25.01.2011
3 26.07.2010
11
Attendance Record of Directors :
Number of Board Number of Board Whether attended last AGM

Name of the Director
Meetings held Meetings Attended held on 02.07.2010
Mr. B. K. Birla 5 4 Yes
Mr. R. A. Shah 5 4 No
Mr. B. S. Mehta 5 5 Yes
Mr. S. K Jain 5 4 Yes
Mr. G. M Singhvi 5 5 Yes
3. Directors’ Remuneration
The Directors of the Company excluding Whole-time Director have been paid sitting fee for attending meetings of the Board
of Directors and Committees of Directors. The sitting fee for attending the meeting of the Board of Directors has been paid to
each Director at the rate of Rs.10,000/- per meeting. The sitting fee for attending the meeting of Audit Committee of Directors
has been paid to each Director at the rate of Rs.5,000/- per meeting and for attending the meeting of Shareholders/Investors
Grievance Committee of Directors and Share Transfer Committee of Directors at the rate of Rs.2,500/- per meeting to each
Director. Besides sitting fee, each director excluding Whole-time Director has been paid Rs. 5 lacs as remuneration by way of
commission for the financial year 2009-10. Commission will also be paid to each director for full financial year except Whole-
time Director at Rs.5 lacs for the financial year 2010-11. Criteria for payment of commission is based on the period. Payment
of commission to directors is pursuant to a special resolution passed by shareholders in the Annual General Meeting held on
28th June, 2008. It is not a policy of the Company to give loans and advances to its directors.
Details of Remuneration paid to Mr.G M Singhvi - Whole-time Director

Rs. in Lacs
Salary & Allowances 74.55
Perquisites 4.92
Contribution to:
- Provident Fund 3.24
- Superannuation Fund 4.05
Total 86.76
- Monetary value of perquisites is calculated in accordance with existing provision of the Income Tax Act.
- Excludes Contribution to approved gratuity fund which are based on actuarial valuation done on an overall company
basis.
- Nature of employment is on contractual basis and subject to termination by either party giving to other party three
months notice.
4. Directors’ Interest in the Company

Sometime, the Company do enter into contracts with companies in which some of the Directors of the Company are interested
as director or member. However, these contracts are in the ordinary course of the Company's business without giving any
specific weightage to them. Directors regularly make full disclosures to the Board of Directors regarding the nature of their
interest in the companies in which they are directors or members. Full particulars of contracts entered with companies in which
directors are directly or indirectly concerned or interested are entered in the Register of Contracts maintained under section 301
of the Companies Act, 1956 and the same is placed in every Board Meeting for the noting of the Directors.
The Company does engage M/s.Crawford Bayley & Co., firm of Solicitors in which Mr.R. A. Shah is a Partner and M/s.Bansi
S. Mehta & Co., firm of Chartered Accountants in which Mr.B. S. Mehta was earlier a Partner and Mr.S.K. Jain, an Advocate for
legal/tax advice. The services provided by them are purely of professional nature. The professional fees paid during the year
to M/s.Crawford Bayley & Co. and M/s.Bansi S. Mehta & Co. are not considered material enough to affect the independence of
Mr.R. A. Shah and Mr.B. S. Mehta. No professional fees has been paid to Mr.S.K. Jain after his appointment as a Director.
In terms of Accounting Standard AS-18, details of related party transactions during the year have been set out under Note 16
of Schedule I annexed to the Balance Sheet and Profit and Loss Account. However, these are not having any potential conflict
with the interest of the Company at large.
12
5. Audit Committee
The Board of Directors has constituted an Audit Committee of Directors to exercise powers and discharge functions as stipulated
in section 292A of the Companies Act, 1956, Clause 49 of the Listing Agreement with Stock Exchanges and other relevant
statutory / regulatory provisions. The Committee, in addition to other business reviews the quarterly (unaudited) financial results,
annual accounts and cost audit reports before submitting to the Board of Directors. During the year 2010-11, the committee met
four times (i.e. on 03.05.2010, 26.07.2010, 01.11.2010 and 25.01.2011) during the year. The Audit Committee consists of three
Directors and the attendance of each committee member is as under:
Name of the Committee Member No. of meetings held No. of meetings attended
Mr. S.K. Jain ( Chairman ) Non-executive and Independent Director 4 3
Mr. R.A. Shah ( Member ) Non-executive and Independent Director 4 4
Mr. B.S. Mehta ( Member ) Non-executive and Independent Director 4 4
Mr. B. S. Mehta is a Chartered Accountant by profession. The Company Secretary of the Company acts as a Secretary to the
Committee.
Besides the Committee members, Whole-time Director, Senior Vice President (Finance), and partners/other representatives
of the firms of Statutory Auditors, Cost Auditors and Internal Auditors were also present at the meetings to answer the queries
raised by the Committee members.
6. Shareholders / Investors Grievance Committee

A Shareholders / Investors Grievance Committee has been constituted by the Board of Directors to monitor the redressal of the
shareholders / investors grievances. The committee consists of two Directors and the attendance of each committee member
is as under:
Mr. S K Jain (Chairman ) Non-executive and Independent Director 2 2
Mr. G. M. Singhvi (Member) Executive and Non-independent Director 2 2
The Committee reviews the status of complaints received from shareholders / investors and redressal thereof. A status report
of shareholders complaints and redressal thereof is prepared and placed before the Shareholders / Investors Grievance
Committee. The shareholders/investors can register shares/debentures related complaints, if any, in the e-mail Id investor@
centuryenka.com designated exclusively for the purpose.
7. Share Transfer Committee of Directors

A Share Transfer Committee of Directors has been constituted by the Board. The Board has also delegated the power of share
transfer to officers of the Company. The delegated authorities attend to share transfer formalities at least thrice in a month. Transfer
of shares are processed and registered within the stipulated time, provided all the documents are valid and complete in all respect.
The Board of Directors has appointed the Company Secretary as a Compliance Officer of the Company to monitor the share
transfer process. Share transfers approved by the delegated authorities are placed before Share Transfer Committee for review
and at the Board Meeting from time to time. As on 31.03.2011, no shares were pending for transfer for more than 15 days.
The committee consists of two Directors and the attendance of each committee member is as under:
Mr. B. S. Mehta - (Chairman) Non-executive and Independent Director 3 3
Mr. R. A. Shah (Member) Non-executive and Independent Director 3 3
The Company has appointed M/s Link Intime India Pvt. Ltd. as its Registrar and Share Transfer Agent for both physical and
demat segment of equity shares.
13
8. General Body Meeting

i) Information about last three Annual General Meetings:
Year Date Time Location

2008 28.06.2008 10:30 AM Kala Kunj, 48,Shakespeare Sarani, Kolkata-700017
ii) In the 42nd Annual General Meeting held on 28.06.2008 one special resolution was passed which authorises the Company
to pay remuneration by way of commission to its directors (including Alternate Directors), resident in India, other than the
directors in the whole-time employment of the Company in respect of each of the five financial years commencing from the
1st April, 2008.
iii) There was no special resolution passed in the 43rd Annual General Meeting held on 27.06.2009.
iv) There was no special resolution passed in the 44th Annual General Meeting held on 02.07.2010.
v) During the financial year 2010-11, for passing a special resolution through postal ballot for change of Registered Office
of the Company from the State of West Bengal to the State of Maharashtra, the Company despatched Notice of Postal
Ballot on 12th/13th March, 2010 to the shareholders of the Company. The Board has appointed Mr. Kamal Kumar Sharma
of Kolkata as Scrutinizer and Mr. Sushil Kumar Dutta of Kolkata as Alternate Scrutinizer. The vote was to cast upto 12th
April, 2010. Based on the report submitted by Mr.Kamal Kumar Sharma the special resolution through postal ballot was
passed by the requisite majority on 16.04.2010. Details of voting pattern are as follows:
Particulars No. of Ballots No. of shares held
Votes in favour of the Resolution 1884 82,50,498

Votes against the Resolution 89 2,583
Votes found invalid on account of No Vote, Unsigned, Double Vote, Non 70 16,554
submission of proper documents, etc.
Total 2043 82,69,635
9. Any Non-compliance, Penalties or Strictures Imposed

There has been no non-compliance by the Company nor any penalties or strictures imposed on the Company by the Stock
Exchange, SEBI or any other statutory authority on any matter related to capital market in the last three years except in the year
2009-10, where the allotment of preferential warrants to the promoters was made before receiving in-principle approval from the
Stock Exchanges and has been advised to ensure compliance.
10. Means of Communication
The unaudited financial results of the Company for each quarter is placed before the Board of Directors in the fourth week of
succeeding month. The quarterly financial results of the Company are published in Business Standard (all edition) & Dainik
Statesman (Kolkata edition) and after shifting of Registered Office at Pune in Loksatta (Pune edition)
Financial results and other useful information on the Company are also available on the Company’s website www.centuryenka.com.
The Company has not made any presentation to institutional investors or analysts.
11. Management’s Discussion and Analysis forms a part of the Annual Report
12. Shareholders Information

Annual General Meeting
Day and Date : Friday, the 1st July, 2011 Time : 11.30 A.M.
Venue : Pudumjee Hall, Mahratta Chamber of Commerce, Industries and Agriculture, Tilak Road, Pune-411 002.
Financial Calendar
Financial reporting for the quarter ending 30th June, 2011 : 4th week of July 2011
Financial reporting for the quarter ending 30th September, 2011 : 4th week of October 2011
Financial reporting for the quarter ending 31st December, 2011 : 4th week of January 2012
Financial reporting for the quarter ending 31st March, 2012 : 4th week of April/1st week of May 2012
14
Book Closure : The Register of Members and Share Transfer Register will remain
closed from Friday, the 17th June, 2011 to Monday, the 27th June,
2011 (both days inclusive) on account of AGM and Dividend Payment.
Dividend Payment Date : On or after 5th July, 2011
Registered Office : Century Arcade, 2nd Floor
Narangi Baug Road
Pune - 411 001.
Tel. No. (020) 2616 6511 Fax No. (020) 2616 6511
E-mail : investor@centuryenka.com
Company’s Website : www.centuryenka.com
Registrar & Transfer Agents : Link Intime India Private Limited
C-13, Pannalal Silk Mills Compound
L. B. S. Marg, Bhandup (West)
Mumbai - 400 078.
Tel. : 022-25946970 Fax : 022-25946969
E-mail : rnt.helpdesk@linkintime.co.in
Listing at Stock Exchanges : The Company's Equity Shares are listed at the following Stock Exchanges :
i) The Bombay Stock Exchange Ltd., Phiroze Jeejeebhoy Towers, Dalal
Street, Mumbai - 400001.
ii) The National Stock Exchange of India Ltd., "Exchange Plaza", Bandra-
Kurla Complex, Bandra (East), Mumbai - 400051.
The Annual Listing Fees for the year 2011-12 have been paid.
Stock Code : Bombay Stock Exchange : 500280

National Stock Exchange : CENTENKA
ISIN allotted to Equity Shares : INE485A01015.
Stock Market Data

Monthly high and low prices of equity shares of the Company quoted at Bombay Stock Exchange and National Stock Exchange
during the year 2010-11 : (Amount in Rs)*
Month Bombay Stock Exchange National Stock Exchange
High Low High Low
April,2010 312 275 311 271
May 307 225 306 215
June 258 235 258 235
July 250 216 284 215
August 268 219 268 216
September 263 235 263 235
October 260 232 261 201
November 250 202 251 200
December 217 160 222 155
January,2011 206 172 206 171
February 189 163 189 165
March 187 172 188 173
(*) Rounded-off to nearest Rupee
15
Stock Performance Index :
380
CEL 20000
330 SENSEX
19000
310
18000
290
CEL Average Share Price(Rs.) 17000
270
16000
250
BSE SENSEX
15000
230 14000
210 13000
190 12000
170 11000
150 10000
May-10
Aug-10
Sep-10
Nov-10
Dec-10
Feb-11
Mar-11
Jun-10
Apr-10
Oct-10
Jan-11
Jul-10
Status of Shareholders'/Investors' Complaints for the period 01.04.2010 to 31.03.2011
Nature of complaint No. of complaints No. of complaints No. of pending

received resolved complaints
Transfer of Shares 1 1 -
Redemption / Buy back of Debentures 7 7 -
Exchange of Share / Debenture Certificates 11 11 -
Dividend 12 12 -
Other 17 17 -
Total 48 48 -
Distribution of Shareholding as on 31st March, 2011
No. of equity shares held No. of shareholders % of shareholders No. of shares held % of shareholding
1 to 10 14972 29.82 88024 0.40
11 to 50 19556 38.95 569643 2.61
51 to 100 5743 11.44 512262 2.35
101 to 500 7282 14.50 1772713 8.11
501 to 1000 1337 2.66 1022664 4.68
1001 to 5000 1048 2.09 2218024 10.15
5001 and above 274 0.54 15667259 71.70
Total 50212 100.00 21850589 100.00
Categories of Shareholding as on 31st March, 2011
Category No. of shareholders % of shareholders No. of shares held % of shareholding
Individual 48568 96.73 9557770 43.75
Bodies Corporate 1169 2.32 8280985 37.90
Non Resident Bodies 3 0.01 1150000 5.26
Corporate
FIIs 20 0.04 173473 0.79
NRI/OCBs 352 0.70 517605 2.37
Mutual Funds 38 0.08 360810 1.65
Bank, Financial Institution & 62 0.12 1809946 8.28
Insurance Companies
Total 50212 100.00 21850589 100.00
Promoters 22 0.04 6858728 31.39

Non-Promoters 50190 99.96 14991861 68.61
Total 50212 100.00 21850589 100.00
16
Dematerialisation of Shares & Liquidity : 79.62% of Equity Shares have been dematerialised as on 31st March, 2011.
Outstanding GDRs/ADRs/Warrants : The Company has not issued any GDRs/ADRs/Convertible Instruments.
or any convertible instruments 10,00,000 outstanding Preferential Warrants were converted into equal number of
equity shares of Rs.10 each on 03.05.2010.
Plant Location : Pune, Mahad and Rajashree Nagar (Bharuch)
Investor Correspondence : Link Intime India Private Limited
(Unit : Century Enka Limited)
C-13, Pannalal Silk Mills Compound
L. B. S. Marg, Bhandup (West)
Mumbai - 400 078.
Tel. : 022-25946970, Fax : 022-25946969
E-mail : rnt.helpdesk@linkintime.co.in
13. Code of Conduct
The Company has always encouraged and supported ethical business practices in personal and corporate behaviour by its
directors and employees. The Company has framed a specific Code of Conduct for the members of the Board of Directors and
Senior Management personnel of the Company. In addition to that a special Code of Conduct for dealing in equity shares and
other listed securities of the Company is also in place.
14. Non Mandatory Requirements
i) The Board
At present, there is no separate office in the Company for use of Chairman.
There is no policy in the Company for determining the tenure of independent directors.
ii) Remuneration Committee
At present, the Company does not have a Remuneration Committee.
iii) Shareholders Rights
Half yearly financial results including summary of the significant events are presently not being sent to shareholders of
the Company.
iv) Audit qualifications
There is no audit qualification. Every endeavour is made to make the financial statements without qualification.
v) Training of Board Members
Considering the nature and risk profile of the business of the Company vis-a-vis professional standing/business experience
of the board members, they are eminently competent to discharge their duties.
vi) Mechanism for evaluating non-executive Board Members
There is no policy framed for evaluation of non-executive Directors.
vii) Whistle Blower Policy:
The question of instituting a formal policy in this respect may be considered after deliberating all relevant aspects, including
the General Corporate Practice in India and also elsewhere.
COMPANY SECRETARIES’ CERTIFICATE ON COMPLIANCE WITH THE CONDITIONS OF
CORPORATE GOVERNANCE UNDER CLAUSE 49 OF THE LISTING AGREEMENTS
To,
The Members of Century Enka Limited
We have examined the compliance of conditions of Corporate Governance by Century Enka Limited, for the year ended on 31st March, 2011, as
stipulated in Clause 49 of the Listing Agreement of the said Company with relevant Stock Exchanges.
The compliance of conditions of Corporate Governance is the responsibility of the management. Our examination was limited to procedures 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 opinion on the financial statements of the Company.
In our opinion and to the best of our information and according to the explanations given to us, we certify that the Company has complied with the
conditions of Corporate Governance as stipulated in the Listing Agreement with relevant Stock Exchanges.
We state that as per the Certificate given by the Registrar and Share Transfer Agent of the Company and as per relevant records maintained by the
Company no Investor Grievance was pending against the Company for a period exceeding one month.
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 SANJAY SANGANI & CO.
Company Secretaries
SANJAY H. SANGANI
Place : Mumbai, Proprietor
Date : May 02, 2011 Membership No.: FCS 4090
17
BRIEF RESUME OF PERSONS PROPOSED TO BE RE-APPOINTED AS

DIRECTORS OF THE COMPANY AT THE ANNUAL GENERAL MEETING
Name Mr.R.A. Shah Mr.B S. Mehta
Age 79 Years 75 Years
Nature of expertise Solicitor & Advocate Chartered Accountant
Name of the 1. Abbott India Limited 1. Atul Limited
companies in 2. ACC Limited 2. Bharat Bijlee Limited
which also holds 3. Asian Paints (India) Limited 3. Ceat Limited
directorship 4. BASF India Limited 4. Clariant Chemicals (India) Limited
5. Clariant Chemicals (India) Limited 5. Gillette India Limited
6. Colgate-Palmolive (India) Limited 6. Housing Development
7. Deepak Fertilisers And Petrochemicals Corporation Finance Corporation Limited
Limited 7. IL&FS Investment Managers Limited
8. Godfrey Phillips India Limited 8. J.B. Chemicals & Pharmaceuticals
9. Lupin Limited Limited
10. Pfizer Limited 9. National Securities Depository Limited
11. Piramal Healthcare Limited 10. Pidilite Industries Limited
12. Procter & Gamble Hygiene and Health Care Limited 11. Procter & Gamble Hygiene and Health
13. The Bombay Dyeing & Mfg.Co.Limited Care Limited
14. Wockhardt Limited 12. Sasken Communication Technologies
*15. Atul Limited Limited
*16. BASF Polyurethanes India Limited 13. SBI Capital Markets Limited
*17. Modicare Limited 14. Sudarshan Chemical Industries Limited
*18. RPG Life Sciences Limited *15. Uhde India Limited
*19. Schrader Duncan Limited 16. Jumbo World Holdings Limited (BVI)
*20. Uhde India Limited (Foreign Company)
21. Jumbo World Holdings Limited (Foreign Company)
22. Roche Scientific Co. (I) Pvt. Ltd. *Alternate Director
23. Bombay Chamber of Commerce & Industry
24. Indo German Chamber of Commerce
25. Society of Indian Law Firm
*Alternate Director
Name of the 1. Abbott India Limited 1. Atul Limited
companies in the 2. BASF India Limited 2. Gillette India Limited
committees of 3. Clariant Chemicals (India) Limited 3. Housing Development Finance
which also holds 4. Colgate-Palmolive (India) Limited Corporation Limited
membership/ 5. Piramal Healthcare Limited 4. J.B. Chemicals & Pharmaceuticals
chairmanship 6. Pfizer Limited Limited
7. Procter & Gamble Hygiene and Health Care Limited 5. IL&FS Investment Managers Limited
8. The Bombay Dyeing & Mfg. Co. Limited 6. Pidilite Industries Limited
9. Wockhardt Limited 7. Procter & Gamble Hygiene and Health
Care Limited
8. Sasken Communication Technologies
Limited
9. Sudarshan Chemical Industries Limited
Other activities
No. of shares held 250 8,540
in the Company.
DECLARATION ON COMPLIANCE OF THE COMPANY’S CODE OF CONDUCT
All the members of the Board and Senior Management Personnel of the Company have affirmed due observance of the Code of Conduct, framed
pursuant to Clause 49 of the Listing Agreement with Stock Exchanges, in so far as it is applicable to them and there is no non-compliance thereof
during the year ended 31st March, 2011.
Place : Mumbai, G.M. SINGHVI

Date : May 02, 2011 Whole-time Director
18
Auditors’ Report necessary for the purposes of our audit;

to the Members of Century Enka Limited (b) In our opinion, proper books of account as required by law
have been kept by the Company so far as appears from
1. We have audited the attached Balance Sheet of Century our examination of those books;
Enka Limited (the “Company”) as at March 31, 2011,
and the related Profit and Loss Account and Cash Flow (c) The Balance Sheet, Profit and Loss Account and Cash
Statement for the year ended on that date annexed thereto, Flow Statement dealt with by this report are in agreement
which we have signed under reference to this report. These with the books of account;
financial statements are the responsibility of the Company’s
(d) In our opinion, the Balance Sheet, Profit and Loss
Management. Our responsibility is to express an opinion on
Account and Cash Flow Statement dealt with by this
these financial statements based on our audit.
report comply with the accounting standards referred to
in sub-section (3C) of Section 211 of the Act;
2. We conducted our audit in accordance with the auditing
standards generally accepted in India. Those Standards (e) On the basis of written representations received from the
require that we plan and perform the audit to obtain reasonable directors, as on March 31, 2011 and taken on record by the
assurance about whether the financial statements are free Board of Directors, none of the directors is disqualified as on
of material misstatement. An audit includes examining, on a March 31, 2011 from being appointed as a director in terms
test basis, evidence supporting the amounts and disclosures of clause (g) of sub-section (1) of Section 274 of the Act;
in the financial statements. An audit also includes assessing
the accounting principles used and significant estimates (f) In our opinion and to the best of our information and
made by Management, as well as evaluating the overall according to the explanations given to us, the said financial
financial statement presentation. We believe that our audit statements together with the notes thereon and attached
provides a reasonable basis for our opinion. thereto give, in the prescribed manner, the information
required by the Act, and give a true and fair view in conformity
3. As required by the Companies (Auditor’s Report) Order, 2003, with the accounting principles generally accepted in India:
as amended by the Companies (Auditor’s Report) (Amendment)
Order, 2004 (together the “Order”), issued by the Central (i) in the case of the Balance Sheet, of the state of affairs
Government of India in terms of sub-section (4A) of Section 227 of the company as at March 31, 2011;
of ‘The Companies Act, 1956’ of India (the ‘Act’) and on the basis (ii) in the case of the Profit and Loss Account, of the profit for
of such checks of the books and records of the Company as the year ended on that date; and
we considered appropriate and according to the information and
explanations given to us, we give in the Annexure a statement (iii) in the case of the Cash Flow Statement, of the cash flows
on the matters specified in paragraphs 4 and 5 of the Order. for the year ended on that date.
For Price Waterhouse

4. Further to our comments in the Annexure referred to in
Firm Registration Number: 301112E
paragraph 3 above, we report that:
Chartered Accountants
(a) We have obtained all the information and explanations Jeetendra Mirchandani
which, to the best of our knowledge and belief, were Place: Mumbai Partner
Date: May 02, 2011 Membership Number F 48125
Annexure to Auditors’ Report material discrepancies between the book records and the
physical inventory have been noticed. In our opinion, the
frequency of verification is reasonable.
[Referred to in paragraph 3 of the Auditors’ Report of even
date to the members of Century Enka Limited on the financial (c) In our opinion and according to the information and
statements for the year ended March 31, 2011] explanations given to us, a substantial part of fixed
assets has not been disposed of by the Company during
1. (a) The Company is maintaining proper records showing full the year.
particulars, including quantitative details and situation, of
fixed assets. 2. (a) The inventory (excluding stocks with third parties) has
been physically verified by the Management during
the year. In respect of inventory lying with third parties,
(b) The fixed assets of the Company have been physically these have substantially been confirmed by them. In our
verified by the Management during the year and no opinion, the frequency of verification is reasonable.
19
(b) In our opinion, the procedures of physical verification of 6. In our opinion and according to the information and
inventory followed by the Management are reasonable explanations given to us, the Company has complied
and adequate in relation to the size of the Company and with the directives issued by Reserve Bank of India
the nature of its business. and the provisions of Sections 58A and 58AA or any
other relevant provisions of the Act and the Companies
(c) On the basis of our examination of the inventory records, (Acceptance of Deposits) Rules, 1975 with regard to
in our opinion, the Company is maintaining proper records the deposits accepted from the public. According to the
of inventory. The discrepancies noticed on physical information and explanations given to us, no Order has
verification of inventory as compared to book records been passed by the Company Law Board or National
were not material. Company Law Tribunal or Reserve Bank of India or any
Court or any other Tribunal on the Company in respect
3. (a) The Company has not granted any loans, secured or
of the aforesaid deposits.
unsecured, to companies, firms or other parties covered
in the register maintained under Section 301 of the Act. 7. In our opinion, the Company has an internal audit system
commensurate with its size and nature of its business.
(b) The Company has not taken any loans, secured or
unsecured, from companies, firms or other parties covered 8. We have broadly reviewed the books of account
in the register maintained under Section 301 of the Act. maintained by the Company in respect of products where,
pursuant to the Rules made by the Central Government
4. In our opinion and according to the information and
of India, the maintenance of cost records has been
explanations given to us, there is an adequate internal
prescribed under clause (d) of sub-section (1) of Section
control system commensurate with the size of the
209 of the Act, and are of the opinion that prima facie,
Company and the nature of its business for the purchase
the prescribed accounts and records have been made
of inventory, fixed assets and for the sale of goods and
and maintained. We have not, however, made a detailed
services. Further, on the basis of our examination of the
examination of the records with a view to determine
books and records of the Company, and according to the
whether they are accurate or complete.
information and explanations given to us, we have neither
come across nor have been informed of any continuing 9. (a) According to the information and explanations given to
failure to correct major weaknesses in the aforesaid us and the records of the Company examined by us,
internal control system. in our opinion, the Company is regular in depositing
the undisputed statutory dues including provident fund,
5. (a) In our opinion and according to the information and
investor education and protection fund, employees’
explanations given to us, the particulars of contracts or
state insurance, income-tax, sales-tax, wealth tax,
arrangements referred to in Section 301 of the Act have
service tax, customs duty, excise duty, cess and
been entered in the register required to be maintained
other material statutory dues as applicable with the
under that section.
appropriate authorities.
(b) In our opinion and according to the information and
(b) According to the information and explanations given to
explanations given to us, the transactions made in
us and the records of the Company examined by us,
pursuance of such contracts or arrangements and
the particulars of dues of income-tax, sales-tax, wealth-
exceeding the value of Rupees Five Lakhs in respect
tax, service-tax, customs duty, excise duty and cess as
of any party during the year have been made at prices
at March 31, 2011 which have not been deposited on
which are reasonable having regard to the prevailing
account of a dispute, are as follows:
market prices at the relevant time.
Name of the statute Nature of dues Amount Period to which Forum where the dispute is pending
(Rs. the amount
Lacs) relates
The Income Tax Act, 1961 Computation of profits under Section 454 2007-08 Commissioner of Income Tax (Appeals)
143(3)
The Custom’s Act, 1962 Refund of customs duty 68 2001-02 Customs, Excise, and Service Tax Appellate
Tribunal
Reclassification of imported assets 22 2006-07 Customs, Excise, and Service Tax Appellate
Tribunal
The Sales Tax Act Additional Tax 133 2000-01 Joint Commissioner of Commercial Tax
Purchase Tax 74 2000-01 Joint Commissioner of Commercial Tax
Demand raised on completion of Assessment 19 2006-07 Joint Commissioner of Commercial Tax
The Central Excise Computation of cost of production 20 2000-01 and Customs, Excise, and Service Tax Appellate
Act,1944 2001-02 Tribunal
Property Tax Liability for Open Land 70 2006-07 till Court of Senior Division Pune
2010-11
20
10. The Company has no accumulated losses as at March shares on preferential basis to a company covered in
31, 2011 and it has not incurred any cash losses in the the register maintained under Section 301 of the Act
financial year ended on that date or in the immediately consequent upon conversion of warrants. The price at
preceding financial year. which these equity shares have been issued has been
determined as per the Securities and Exchange Board
11. According to the records of the Company examined of India (Issue of Capital and Disclosure Requirements)
by us and the information and explanation given to us, Regulations, 2009, which in our opinion, is not
the Company has not defaulted in repayment of dues prejudicial to the interest of the company.
to any financial institution or bank or debenture holders
as at the balance sheet date. 19. During the course of our examination of the books and
records of the Company, carried out in accordance with
12. The Company has not granted any loans and advances the generally accepted auditing practices in India, and
on the basis of security by way of pledge of shares, according to the information and explanations given to
debentures and other securities. us, we have neither come across any instance of fraud
13. The provisions of any special statute applicable to chit on or by the Company, noticed or reported during the
fund / nidhi / mutual benefit fund/ societies are not year, nor have we been informed of such case by the
applicable to the Company. Management.
14. In our opinion, the Company is not a dealer or trader in 20. The other clauses, Clause (xix) on creation of charge
shares, securities, debentures and other investments. for debentures issued and outstanding at the year end
and clause (xx) on end use of money raised by public
15. In our opinion and according to the information and issues of paragraph 4 of the Companies (Auditor’s
explanations given to us, the Company has not given Report) Order 2003, as amended by the Companies
any guarantee for loans taken by others from banks or (Auditor’s Report) (Amendment) Order, 2004, are not
financial institutions during the year. applicable in the case of the Company for the year,
since in our opinion there is no matter which arises to
16. In our opinion, and according to the information and
be reported in the aforesaid Order.
explanations given to us, on an overall basis, the term
loans have been applied for the purposes for which
they were obtained.
17. On the basis of an overall examination of the balance For Price Waterhouse
sheet of the Company, in our opinion and according to Firm Registration Number: 301112E
the information and explanations given to us, there are Chartered Accountants
no funds raised on a short-term basis which have been
used for long-term investment. Jeetendra Mirchandani
Place: Mumbai Partner
18. During the year, the Company has allotted equity Date: May 02, 2011 Membership Number F 48125
21
BALANCE SHEET
AS AT 31ST MARCH, 2011
31st March, 31st March,
2011 2010
SCHEDULE Rs./Lacs Rs./Lacs
SOURCES OF FUNDS
SHAREHOLDERS' FUNDS
Share Capital A 2185 2085
Equity Share Warrants (See Schedule A - Note 2) - 473
Reserves and Surplus B 62987 54931
65172 57489
LOAN FUNDS C
Secured Loans 31333 19200
Unsecured Loans 9304 1561
40637 20761
DEFERRED TAX LIABILITY (NET) (See Schedule I - Note 5) 10979 11853
TOTAL 116788 90103
APPLICATION OF FUNDS
FIXED ASSETS D
Gross Block 156840 150986
Less: Depreciation 94628 89982
Net Block 62212 61004
Capital Work-in-Progress 12423 6
74635 61010
INVESTMENTS E 319 319
CURRENT ASSETS, LOANS AND ADVANCES F
Inventories 30239 19634
Sundry Debtors 12508 9403
Cash and Bank Balances 970 396
Other Current Assets 22 20
Loans and Advances 9407 7899
53146 37352
LESS: CURRENT LIABILITIES AND PROVISIONS G
Liabilities 8823 6243
Provisions 2489 2335
11312 8578
NET CURRENT ASSETS 41834 28774
TOTAL 116788 90103
NOTE: Notes as per Schedule I and other Schedules referred to herein form an integral part of these Accounts.
This is the Balance Sheet referred to in our Report of even date.

For and on behalf of the Board of Directors
For PRICE WATERHOUSE
Firm Registration No. 301112 E
Place : Mumbai JEETENDRA MIRCHANDANI C.B.GAGRANI Place : Mumbai B. K. Birla

Date : May 02, 2011 Partner Secretary Date : May 02, 2011 G. M. Singhvi
Membership No . F 48125 (Directors)
22
PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31ST MARCH, 2011
2010-11 2009-10
SCHEDULE Rs./Lacs Rs./Lacs
INCOME
Sales (Net of returns and Sales Tax) 148465 132703
Less : Excise Duty 14032 9616
Net Sales 134433 123087
Other Income H-Note 1 1276 1005
135709 124092
INCREASE/(DECREASE) IN STOCKS H-Note 2 7841 3788
143550 127880
EXPENDITURE
Raw Materials Consumed H-Note 3 93486 75965
Purchase of Goods (Trading) 539 418
Expenses H-Note 4 31733 29060
125758 105443
PROFIT BEFORE INTEREST, DEPRECIATION AND TAXATION 17792 22437
Interest Expenditure H-Note 5 (1305) (1084)
Less: Interest Income H-Note 6 247 343
(1058) (741)
Depreciation [ See Schedule I-Note 1 (d) ] (6136) (6127)
Less : Transferred from Revaluation Reserve 21 21
(6115) (6106)
PROFIT BEFORE EXCEPTIONAL ITEMS AND TAXATION 10619 15590
Exceptional Items - VRS Compensation - 336
PROFIT BEFORE TAXATION 10619 15254
Provision for Taxation
- Current tax (3557) (6564)
[Includes excess provision of tax of Rs 566 Lacs in respect of
earlier years (Previous Year short provision of Rs. 292 Lacs)]
- Deferred Tax 874 1326
(2683) (5238)
NET PROFIT 7936 10016
Balance Brought forward from Previous Year 18616 11629
PROFIT AVAILABLE FOR APPROPRIATION 26552 21645
APPROPRIATIONS
Proposed Equity Dividend (See Schedule G- Note) 1420 1311
Tax on Proposed Equity Dividend 231 218
1651 1529
General Reserve 1500 1500
Balance Carried to Balance Sheet 23401 18616
26552 21645
BASIC EARNINGS PER SHARE ( Rs. ) I - Note 12 36.47 49.61
DILUTED EARNINGS PER SHARE ( Rs. ) I - Note 12 36.40 49.14
NOTE: Notes as per Schedule I and other Schedules referred to herein form an integral part of these Accounts.
This is the Profit and Loss Account referred to in our Report of even date.

Date : May 02, 2011 Partner Secretary Date : May 02, 2011 G. M. Singhvi
Membership No . F 48125 (Directors)
23
CASH FLOW STATEMENT

FOR THE YEAR ENDED 31ST MARCH,2011
2010-11 2009-10
A. CASH FLOW FROM OPERATING ACTIVITIES Rs./Lacs Rs./Lacs
Net Profit Before Tax 10619 15254
Adjustment for:
Depreciation 6115 6106
Interest expenditure 1305 1084
Interest Income (247) (343)
Exchange Loss on Foreign Currency Fluctuation 228 561
Dividend Income (43) (43)
Liabilities/Provisions no longer required written back (463) (125)
Loss on sale of Fixed Assets (Net) 25 73
Profit on sale of Investments (12) (28)
Voluntary Retirement Scheme compensation - 336
Operating Profit Before Working Capital Changes 17527 22875
Adjustment for:
Inventories (10605) (7672)
Sundry Debtors (3105) (2024)
Loans and Advances (865) (82)
Sundry Creditors 3372 1628
Cash Generated From Operations 6324 14725
Direct taxes paid (net of refunds) (4190) (6591)
Net Cash From Operating Activities (A) 2134 8134
B. CASH FLOW FROM INVESTING ACTIVITIES
Purchase of Fixed Assets {including capitalised exchange loss (19847) (763)
of Rs 52 Lacs (Previous year excluding decapitalised
exchange gain of Rs 91 Lacs)}
Sale of Fixed Assets 113 6
Interest received 245 345
Profit on Sale of Investment 12 28
Dividend Received 43 43
Net Cash From Investing Activities (B) (19434) (341)
C. CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from issue of Equity Shares on conversion of 1419 1513
Preferential Equity Share warrants.
Proceeds from Preferential Equity Share Warrants - 473
Proceeds from Borrowings 34423 8760
Repayment of Borrowings (15152) (16586)
Interest paid (1270) (1169)
Equity Dividends paid (including Tax on Dividend) (1526) (1174)
Interest on Unpaid Debentures paid during the year (20) (1)
Net Cash From Financing Activities (C) 17874 (8184)
D. NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS (A)+(B)+(C) 574 (391)
Closing Balance of Cash and Cash Equivalents 970 396
Opening Balance of Cash and Cash Equivalents 396 787
Notes :
1. The above Cash Flow Statement has been prepared under the " Indirect Method " set
out in Accounting Standard ( AS ) - 3 on Cash Flow Statement issued by the Institute of
Chartered Accountants of India.
2. Figures in bracket indicate cash outflow.
3. Previous year comparatives have been reclassified to confirm with current year's
presentation , wherever applicable.
4. Cash and Cash equivalents comprise of :
As on As on
31st March 2011 31st March 2010
On hand [Including Cheques Rs.629 Lacs ( Previous Year Rs Nil Lacs )] 631 2
With Scheduled Banks
In Current Accounts 207 271
In Fixed Deposits Accounts 26 20
In Unpaid Dividend Accounts 106 103
970 396
This is the Cash Flow Statement referred to in our Report of even date.

Date: May 02, 2011 Partner Secretary Date: May 02, 2011 G. M. Singhvi
Membership No. F 48125 (Directors)
24
SCHEDULE A
Annexed to and forming part of the Balance Sheet as at 31st March, 2011
31st March 31st March,

2011 2010
Rs./Lacs Rs./Lacs
SHARE CAPITAL
AUTHORISED
1,00,000 Redeemable Cumulative Preference Shares of Rs.100 each 100 100
3,30,00,000 Equity Shares of Rs.10 each 3300 3300
1,00,000 Unclassified Shares of Rs.100 each 100 100
3500 3500
ISSUED, SUBSCRIBED AND PAID-UP
2,18,50,589 Equity Shares of Rs.10 each ( See Notes below ) 2185 2085
(Previous Year 2,08,50,589 )
NOTES:
1. Includes 37,97,770 Equity Shares issued as fully paid up pursuant to a Scheme of Amalgamation for consideration other
than cash and 1,44,69,021 Equity Shares issued as fully paid-up Bonus Shares by way of Capitalisation of Reserves and
Share Premium.
2. Pursuant to Special Resolution passed by the shareholders through postal ballot on 9th December, 2009, the Board of
Directors in its meeting held on 17th December, 2009 allotted 18,00,000 Preferential Warrants to the Promoters of the
Company at a price of Rs. 189.16 per warrant and received Rs. 47.29 per warrant being 25% upfront price. The Promoters
were entitled to apply for allotment of one fully paid-up equity share of Rs.10/- each against each warrant at any time after
the date of allotment but on or before expiry of 18 months from the date of allotment.
The Promoters have exercised the option to convert preferential warrants into fully paid-up equity shares of Rs. 10/- each
in two tranches and the Board of Directors accordingly, allotted 8,00,000 fully paid-up equity shares of Rs. 10/- each on
27th January,2010 and 10,00,000 fully paid-up equity shares of Rs. 10 each on 3rd May,2010.
SCHEDULE B
Balance as at Deductions/ Additions Balance as at
1st April 2010 Adjustments during the year 31st March,
during the year 2011
Rs./Lacs Rs./Lacs Rs./Lacs Rs./Lacs
RESERVES AND SURPLUS
Capital Reserve 48 - - 48
Revaluation Reserve 1124 21 - 1103
[See Schedule I-Note 13 and See Note -1 below]
Capital Redemption Reserve 186 - - 186
Securities Premium (See Schedule A - Note 2) 1433 - 1792 3225
Contingency Reserve 750 - - 750
General Reserve (See Note 2 below ) 32774 - 1500 34274
Profit and Loss Account (See Note 3 below) 18616 18616 23401 23401
54931 18637 26693 62987
NOTES:
1. Deduction/Adjustment during the year represents additional depreciation for the year charged on Revaluation, transferred to
Profit and Loss Account
2. Additions during the year includes Rs 1500 Lacs transfer from Profit and Loss Account
3. Addition during the year represents transfer from Profit and Loss Account.
25
SCHEDULE C
2011 2010
Rs./Lacs Rs./Lacs
LOAN FUNDS
SECURED LOANS
Loans and Advances from Banks:
- Rupee Term Loan (See Note -1) 8419 4658
[Payable within one year Rs.1071 Lacs ( Previous Year Rs.1125 Lacs ) ]
- Foreign Currency Loan (See Note -1) 2522 4271
[Payable within one year Rs.1681 Lacs ( Previous Year Rs. 1708 Lacs) ]
- Buyers' Import Credit for Capital Goods (See Note - 2 ) 6822 -
[ Payable within one year Rs. 60 Lacs ( Previous Year Rs. Nil ) ]
- Buyers' Import Credit for Raw Material (See Note - 3) 964 3692
[ Payable within one year Rs. 964 Lacs ( Previous Year Rs. 3692 Lacs ) ]
- Rupee Short Term Loan (See Note - 3) 2500 -
[ Payable within one year Rs. 2500 Lacs ( Previous Year Rs. Nil Lacs ) ]
- Working Capital borrowings from Scheduled Banks (See Note-3) 10106 6579
31333 19200
UNSECURED LOANS
FROM BANK
- Buyers' Import Credit 1122 -
- Rupee Short Term Loan for Working Capital 8075 -
FROM OTHERS
- Commercial Paper (See Note - 4 below) - 1500
[ Payable within one year Rs.Nil Lacs ( Previous Year Rs.1500 Lacs) ]
- Fixed Deposits 107 61
[ Payable within one year Rs. 106 Lacs ( Previous Year Rs. 61 Lacs) ]
9304 1561
40637 20761
NOTES: 1. Rupee Term Loan and foreign currency loan from Banks are secured by hypothecation of specified Plant and Machinery.
2. Buyers Import Credit for capital goods are secured by first pari-passu charge on specified assets of the company. The charge is in the process of being
created/registered.
3. Working Capital borrowings from Scheduled Banks, Rupee Short Term Loan and Buyer's Import Credit for Raw Material from Banks are secured by
way of hypothecation of the whole of the Company's Raw Material, Finished Goods, Stock-in-Process, Stores,Spares Parts and Packing Material,
Book Debts, Receivables and all other movables, both present and future.
4. Maximum amount outstanding during the year is Rs. 7500 Lacs ( Previous Year Rs. 8000 Lacs)
SCHEDULE D
FIXED ASSETS (See Schedule I-Notes 1(c), (d),(e), (f),11 &13) Rs./ Lacs
Cost/Book Additions Deductions/ Cost/Book Depreciation Depreciation Balance Balance
Value as at during the Adjustments Value as at for the year on Cost/ as at 31st as at 31st
ASSETS
1st April, year during the 31st March, Book Value March, March,
2010 year 2011 upto 31st 2011 2010
March, 2011
Land
Leasehold 398 - - 398 4 157 241 245
Freehold 203 8 - 211 - - 211 203
(See Note-1) (See Note-1)
Buildings 11164 12 - 11176 274 4041 7135 7397
(See Note-2) (See Note-2)
Plant & Machinery 138883 7391 1608 144666 5811 90263 54403 52956
(See Note-3)
Furniture, Fittings & 160 54 13 201 31 94 107 84
Office Equipments
Vehicles 178 17 7 188 16 73 115 119
150986 7482 1628 156840 6136 94628 62212 61004
Capital Work-in-Progress 6 19445 7028 12423 - - 12423 6
150992 26927 8656 169263 6136 94628 74635 61010
Previous Year 152169 823 2000 150992 6127 89982 61010
Notes: 1. Includes Land Rs.2 Lacs (Rs. 12 Lacs after Revaluation) and Rs. 500 being the cost of 5 shares in co-operative housing society held in the name of a
nominee of the Company.
2. Includes Rs. 2000 being the cost of 40 shares in co-operative societies.
3. Includes exchange loss of Rs.52 Lacs (previous year exchange gain of Rs.91 Lacs) arising on the reporting of long term foreign currency monetary items
relating to fixed assets . Also refer Schedule I -Note 11
26
SCHEDULE E
Face 31st March, 31st March,
INVESTMENTS [See Schedule I-Note 1(h)] Numbers Value 2011 2010
Rs. Rs./Lacs Rs./Lacs
(1) IN FULLY PAID-UP EQUITY SHARES-QUOTED (Long Term -Trade)
Kesoram Industries Limited 5,84,994 10 304 304
Kesoram Textile Mills Limited 5,84,994 2 - -

(Received during the year 1999-2000 without any consideration
pursuant to Scheme of Arrangement of Kesoram Industries Limited)
(2) IN FULLY PAID-UP EQUITY SHARES-UNQUOTED (Long Term -Trade)
Bharuch Enviro Infrastructure Limited 10,220 10 1 1
Kesoram Insurance Broking Services Ltd. 60,000 10 1 1
Vasavadatta Services Limited. 9,200 10 1 1
MMA CETP Co-operative Society Limited. 11,757 100 12 12
(3) IN CURRENT INVESTMENT (See note below) - Non Trade
Units of Debt Scheme of various Mutual Funds - - - -
319 319
Aggregate Market Value of Quoted Investments 1207 2196
Aggregate Cost of Unquoted Investments 15 15
NOTE: Investments purchased and sold during the year Face Value No. of Purchase Value
(Rs.) Units (Rs in Lacs)
Name of Mutual Fund
Axis Liquid Fund 1000 126625 1300
Birla Sun Life Mutual Fund 10 19151598 2850
DSP BlackRock Mutual Fund 1000 22569 300
DWS Mutual Fund 10 2402449 350
JM Mutual Fund 10 1382371 200
Kotak Mahindra Mutual Fund 10 13406889 2525
Religare Mutual Fund 10 22777670 2925
SBI Mutual Fund 10 18944415 2780
UTI Mutual Fund 1000 340584 5195
27
SCHEDULE F
2011 2010
Rs./Lacs Rs./Lacs
CURRENT ASSETS, LOANS AND ADVANCES

INVENTORIES [See Schedule I-Note 1 (g)]
Stores, Spare Parts and Packing Material (See Note 1 below) 1694 1331
Raw Materials (See Note 2 below) 9454 7704
Finished Goods 13680 7312
Stock-in-Process 5411 3287
30239 19634
SUNDRY DEBTORS (Unsecured and considered good)
Outstanding for a period exceeding six months 5 6
Others 12503 9397
12508 9403
CASH AND BANK BALANCES
Cash on hand [(Including Cheques Rs. 629 Lacs;
Previous Year Rs.Nil Lacs )] 631 2
With Scheduled Banks
In Current Accounts 207 271
In Fixed Deposits Accounts 26 20
In Unpaid Dividend Accounts 106 103
970 396
OTHER CURRENT ASSETS
Interest Accrued
On Deposits with Banks: 1 (Rs.11403)
Others 21 20
22 20
Assets held for disposal - (Rs.41084)
22 20
LOANS AND ADVANCES
(Unsecured-considered good )
Bills Receivable 609 19
Advances Recoverable in cash or in kind or for value to be received (See Note 3) 4507 4647
Minimum Alternate Tax Credit Entitlement - -
[Net of Provision for Taxation Rs Nil ,(Previous Year Rs.266 Lacs)] -
Balance with Customs and Excise Authorities (Rs.4559) (Rs.4232)
Cenvat Credit Balance Recoverable 4291 3233
Advance Payment of Tax - -
[Net of Provision for Taxation Rs 11643 Lacs,( Previous Year Rs.8096 Lacs)]
9407 7899
NOTES:
1. Stores and Spare Parts include in transit Rs.34 Lacs (Previous Year Rs.59 Lacs).
2. Raw Materials include in transit Rs.1152 Lacs (Previous Year Rs.429 Lacs).
3. Advance includes Rs 181 Lacs for capital assets (Previous year Rs.319 Lacs).
28
SCHEDULE G
CURRENT LIABILITIES AND PROVISIONS 2011 2010
Rs./Lacs Rs./Lacs
CURRENT LIABILITIES
Sundry Creditors
Total outstanding dues of Micro and Small Enterprises (See Schedule I - Note 3) 15 10
Total outstanding dues of creditors other than Micro and Small Enterprises 8107 5666
8122 5676
Other Liabilities 326 210
Unpaid dividend * 106 103
Unclaimed matured debentures * 152 172
Interest accrued but not due on Loans 117 82
8823 6243
* There is no amount due and outstanding as on 31st March,2011 to be
credited to Investors Education and Protection Fund.
PROVISIONS
Provision for Taxation 309 257
-[Net of Advance Tax/MAT credit of Rs 11643 Lacs (Previous Year 8362 Lacs)]
Provision for Gratuity and Compensated Absences (See Schedule I - Note 2) 529 549
Proposed Equity Dividend (See Note below and See Schedule A- Note 2) 1420 1311
Tax on Proposed Equity Dividend 231 218
2489 2335
Note: T
he Board of Directors has recommended dividend @ Rs.6.50/- per equity share of Rs.10/-each on 2,18,50,589 equity share
for the year ended 31st March, 2011 (Previous Year Rs.6/- per equity share of Rs.10/- each on 2,18,50,589 equity shares
including 10,00,000 Equity Shares allotted on 3rd May, 2010 on conversion of Preferential Warrants).
SCHEDULE H
Annexed to and forming part of the Profit and Loss Account for the year ended 31st March, 2011
2010-11 2009-10
Rs./Lacs Rs./Lacs
NOTE 1 OTHER INCOME
Dividends received on Long Term Investments (Trade) 43 43
Miscellaneous Income 325 442
[Tax Deducted at Source Rs.21 Lacs (Previous Year Rs.48 Lacs)]
Sale of Scrap 400 363
Profit on Sale of Assets 33 4
Profit on Sale of Current Investments ( Other Than Trade) 12 28
Liabilities/Provisions no longer required written back 463 125
1276 1005
NOTE 2 INCREASE/(DECREASE) IN STOCKS
Closing Stock
19091 10599
Less: Opening Stock
10599 6311
Less : Increase/(Decrease) in Excise Duty on Stocks 651 500
Increase/(Decrease) in Stocks 7841 3788
NOTE 3 RAW MATERIALS CONSUMED
Opening Stock 7704 4158
Add: Purchases and Incidental Expenses 95236 79511
102940 83669
Less: Closing Stock 9454 7704
93486 75965
29
SCHEDULE H (Contd.)
Annexed to and forming part of the Profit and Loss Account for the year ended 31st March, 2011
2010-11 2009-10
Rs./Lacs Rs./Lacs
NOTE 4 EXPENSES
Manufacturing Expenses
Stores, Spare Parts and Packing Material Consumed 5579 5218
Processing Charges 324 607
Power and Fuel 16141 13985
Repairs and Maintenance
Building Repairs 276 288
Machinery Repairs 912 849
Payments to and Provisions for Employees

Salaries, Wages and Bonus 4285 3933
Contribution to Provident and other funds 448 348
Contribution to Employees' State Insurance 14 2
Workers and Staff Welfare Expenses 334 305
Sundry Expenses
Rent 21 20
Rates and taxes 94 84
Insurance 83 90
Miscellaneous Expenses 1295 1238
Directors' Sitting Fees 2 3
Directors' Commission 20 20
Auditors' Remuneration and Expenses
Audit Fees 25 23
In Other Capacity
For Tax Audit 3 2
For Other Services 8 11
Out of Pocket Expenses (Rs.41260) (Rs.35000)
Cost Auditors' Remuneration and Expenses 1 1
Loss on Assets Sold / Written off 58 77
Loss on Foreign Currency Fluctuation 228 561
Commission on Sales 579 518
Transport, Handling and Octroi 1003 877
31733 29060
NOTE 5 : INTEREST EXPENDITURE
On Fixed Loans (See Note below) 1111 948
Others 286 136
1397 1084
Less: Borrowing cost capitalised 92 -
1305 1084
NOTE 6 : INTEREST INCOME
[Tax Deducted at Source Rs. 13 Lacs (Previous Year Rs.12 Lacs)]
On Fixed Deposits 5 8
On Government Securities 23 23
On Income Tax / Sales Tax refund 95 244
From Debtors 115 58
Others 9 10
247 343
Note: Net of subsidy Rs.262 Lacs (Previous year Rs. 268 Lacs) under the Technology Upgradation Fund Scheme of the
Government of India.
30
SCHEDULE I
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH, 2011
1. SIGNIFICANT ACCOUNTING POLICIES
(a) Basis of Preparation of Financial Statements
The financial statements are prepared on an accrual basis of accounting and in accordance with the generally accepted accounting principles in India and
provisions of the Companies Act ,1956 read with the Companies ( Accounting Standards) Rules,2006
(b) Revenue Recognition
1. Sales are recognised on despatch to customers and are net of returns,discount and sales tax .
2. Other Income and Expenditure are recognised and accounted on accrual basis.
(c) Fixed Assets
1. Fixed Assets are stated at cost of acquisition or construction (net of Cenvat Credit / Value Added Tax) except in case of certain fixed assets which have
been revalued, at its revalued amount, less accumulated depreciation and amortisation. All costs relating to the acquisition and installation of fixed
assets are capitalised and include borrowing costs directly attributable to construction or acquisition of fixed assets, upto the date the asset is put to use.
Also refer Note -1(e) below.
2. Machine spares which are specific to a particular item of fixed assets and whose use is expected to be irregular are capitalised.
(d) Depreciation
1. Depreciation has been provided as under:
a) On Plant & Machinery commissioned upto 31st March,1997 - On Written Down Value Method at the rates prescribed in Schedule XIV to the
(except revalued) and additions/extensions thereto. Companies Act, 1956.
b) On Plant & Machinery commissioned after 31st March, 1997 - On Straight Line Method at the rates prescribed in Schedule.XIV to the Companies
Act, 1956, except Computers and Air Conditioners, for which the useful life has been
assessed as 5 years and the residual values are considered at Nil.
c) On Revalued Assets
1. On Straight Line method at the rate considered applicable by the valuer -
as below:
a) Leasehold Land amortised at the rate between 1% to 1.2%
b) Building at the rate between 2% to 2.3%
c) Plant & Machinery at the rate between 5% to 5.28%
2. The additional charge of depreciaton on account of revaluation is withdrawn
from Revaluation Reserve and Credited to the Profit and Loss Account.
d) On Buildings and Vehicles - On Straight Line method at the rates applicable at the time of additions as per
Schedule XIV of the Companies Act, 1956.
e) On Furniture, Fittings and Office Equipments - On Straight Line Method with the useful life assessed as under :
(i) Furniture & Fittings - 10 Years.
(ii) Office Equipments - 5 Years
Further, the residual values are considered at Nil, for all these assets .
2. Leasehold land is amortised over the period of lease.
3. Except for items for which 100% depreciation rates are applicable, depreciation on assets added/disposed of during the year has been provided on prorata
basis with reference to the month of addition/disposal.
(e) Foreign Currency Transactions
Transactions in foreign currencies are recorded at the exchange rate prevailing on the date of the transaction. Foreign Currency Assets and Liabilities are stated at
the exchange rates prevailing at the date of Balance Sheet and at forward contract rates wherever so covered. The resulting gain or loss is appropriately recognised
in the Profit and Loss Account except for the exchange difference arising on the reporting of long term foreign currency monetary items relating to fixed assets where
the same is adjusted to the fixed assets in accordance with the Notification No.G.S.R 225 (E) issued by Ministry of Corporate Affairs on March 31,2009
(f) Borrowing Costs
Borrowing costs directly attributable to the acquisition or construction of qualifying fixed assets are capitalised as part of the cost of the assets, upto the date
the asset is put to use. Other borrowing costs are charged to the Profit and Loss Account in the year in which they are incurred.
(g) Inventories
Raw Materials are valued at weighted average cost , Stocks in process are valued at manufacturing cost based on weighted average cost of raw materials
and overheads up to relevant stage of completion, Finished goods are valued at cost of production. Purchased finished goods are valued at cost of purchase.
By-products and waste are valued at cost. Any item of inventory is valued at Net Realisable Value,if the same is less than cost.
(h) Investments
Current investments are valued at lower of cost or fair value. Long term investments are stated at cost less diminution, if any, in value.
(i) Employee Benefits
A. Defined Contribution Plans-:
Superannuation:
The company has Defined Contribution Plans for Post employment benefits in the form of Superannuation Fund for certain class of employees as per the scheme,
administered through Life Insurance Corporation (LIC) and Trust which is administered by the Trustees. Company has no further obligation beyond its contributions.
Employee's Family Pension:
The Company has Defined Contribution Plan for Post Employment benefits in the form of family pension for all eligible employees, which is administered
by the regional provident fund commissioner. Company has no further obligation beyond its contributions.
Provident Fund:
In respect of certain employees, Provident Fund contribution are made to the trust administered by the trustees. The interest rate payable to the
members of the trust shall not be lower than the statutory rate of interest declared by the Central Government under Employee's Provident Fund and
Miscellaneous Provision Act,1952. Shortfall, if any, shall be made good by the Company. The remaining contributions are made to the Government
administered Provident Fund towards which the Company has no further obligations beyond its monthly contributions.
The Company makes contribution to State Plan namely Employee's State Insurance Fund and has no further obligation beyond its Contribution.
The Company's contribution to above funds are charged to Profit and Loss Account as incurred.
B. Defined Benefit Plans:
Gratuity:
The Company has a defined benefit plan for Post - employment benefit in the form of gratuity for all employees which are administered through Life-
Insurance Corporation (LIC) and a trust which is administered by the trustees. Liability for above defined benefit plan is provided on the basis of actuarial valuation,
as at the Balance Sheet date, carried out by an independent actuary. The actuarial method used for measuring the liability is the Projected Unit Credit method.
31
Compensated Absences:
Liability for Compensated Absences is provided on the basis of valuation, as at the Balance Sheet date, carried out by an independent actuary.The Actuarial
valuation method used for measuring the liability is the Projected Unit Credit method. Under this method, the Defined Benefit Obligation is calculated taking
into account pattern of availment of leave whilst in service and qualifying salary on the date of availment of leave. In respect of encashment of leave, the
Defined Benefit obligation is calculated taking into account all type of the decrement and qualifying salary projected up to the assumed date of encashment.
The Actuarial gains and losses arising during the year are recognised in the Profit and Loss Account of the year without resorting to any amortisation.
C. Termination Benefits-:
AS 15 (revised 2005) provides for deferment of the termination benefits. Accordingly, the compensation paid to employees under the Voluntary
Retirement Scheme has been amortised over a pay back period or up to March 31st 2010 which ever is earlier.
(j) Direct Taxes
(i) Provision for current tax is made and retained in the accounts on the basis of estimated tax liability as per the applicable provisions of the Income Tax
Act , 1961 and considering assessment orders and decisions of appellate authorities in the Company's case.
(ii) Deferred Tax for timing differences between tax profits and book profits is accounted for using the tax rates and laws that have been enacted or substantively
enacted as of the Balance Sheet date. Deferred Tax assets are recognised to the extent there is reasonable certainty that these assets can be realised in future.
(k) Indirect Taxes
The liabilities are provided or considered as contingent depending upon the merit of each case and/or on receiving the actual demand from the department.
(l) Research and Development
Revenue expenditure on research and development is charged as an expense in the year in which it is incurred under respective heads of accounts.
Expenditure which result in the creation of capital assets is capitalised and depreciation is provided on such assets as applicable.
2. DISCLOSURES IN ACCORDANCE WITH REVISED AS-15 ON "EMPLOYEES BENEFITS".

a) Defined Contribution Plans - The Company has recognised the following amounts in the Profit and Loss Account for the year:
Particulars 2010-11 2009-10
Rs/Lacs Rs/Lacs
Employer's Contribution to Provident Fund 127 107
Employer's Contribution to Superannuation Fund 52 40
Employer's Contribution to Employee's State Insurance 14 2
Employer's Contribution to Employee's Pension Scheme 1995 98 96
Total 291 245
b) Defined Benefit Plans -
The following figures are as per the actuarial valuation, as at the Balance Sheet date, carried out by an independent actuary.
i) A reconciliation of opening and closing balances of the present value of the defined benefits obligation (DBO):
Gratuity Gratuity
Rs/Lacs Rs/Lacs
Opening Balance 1417 1276
Current Service Cost 71 66
Interest Cost 104 82
Actuarial (Gains)/Losses 47 50
Benefits Paid (44) (57)
Past Service cost 63 -
Closing DBO 1658 1417
ii) A reconciliation of the opening and closing balances of the fair value of plan assets:
Gratuity Gratuity
Rs/Lacs Rs/Lacs
Opening Fair Value of Plan Assets 1,173 1,050
Expected Returns on Plan Assets 82 74
Actuarial Gain / (Losses) 31 19
Contribution by the Employer 245 87
Benefits Paid (44) (57)
Closing Fair Value of Plan Assets 1,487 1,173
iii) Amount recognised in Balance Sheet including a reconciliation of the present value of the defined obligation in b (i) and the fair value of the plan assets in
b (ii) to the assets and liabilities recognised in the balance sheets:
Gratuity Gratuity
Particulars
As on 31.03.2011 As on 31.03.2010
Rs/Lacs Rs/Lacs
Present value of Funded Obligations 1658 1417
Fair value of Plan Assets (1487) (1173)
Present Value of Unfunded Obligations - -
Net Liability / (Asset) recognised in the Balance Sheet 171 244
32
iv) The total expense recognised in the Profit and Loss Account:
Gratuity Gratuity
Rs/Lacs Rs/Lacs
Current Service Cost 71 66
Interest Cost 104 82
Expected Return on Plan Assets (82) (74)
Actuarial (Gains)/Losses 16 31
Past Service Cost 62 -
Total 171 105
v) For each major category of plan assets, following is the percentage that each major category constitutes of the fair value of the plan assets:
Gratuity Gratuity
Particulars As on 31.03.2011 As on 31.03.2010
Rs/Lacs Rs/Lacs
Amount Percentage Amount Percentage
Government of India Securities - - - -
Corporate Bonds - - - -
Special Deposit Scheme - - - -
Equity Shares of Listed Companies - - - -
Property - - - -
Insurer Managed Funds 1,487 100% 1,173 100%
Others - - - -
Total 1,487 100% 1,173 100%
vi) The overall expected rate of return on assets is based on the expectation of the average long term rate of return expected on investments of the
fund during the estimated term of the obligations.
vii) The Actual Return on Plan Assets is as follows:
Particulars Gratuity Gratuity
2010-11 2009-10
Rs/Lacs Rs/Lacs
Actual Return on Plan Assets 113 93
viii) Following are the Principal Actuarial Assumptions used as at the balance sheet date:
Gratuity Gratuity
Particulars
2010-11 2009-10
Rate Rate
Discount Rate 8.00% 7.60%
Expected rate of return on Plan Assets 7.50% 7.50%
Salary Escalation Rate 7.00% 6.00%
ix) The estimates of future salary increases considered in actuarial valuation takes into account inflation, seniority, promotion and other relevant factors.
x) Para 132 of AS 15 (revised 2005) does not require any specific disclosures except where the expense resulting from compensated absence is of such
size, nature or incidence that its disclosure is relevant under Accounting Standard No. 5 or Accounting Standard No. 18 and accordingly, the expense
resulting from compensated absence is not significant and hence no disclosures are prepared under various paragraphs of AS 15 (revised 2005).
3. SUNDRY CREDITORS
Disclosure under the Micro and Small Enterprises Development Act, 2006:
Amount due to Micro and Small Enterprises are disclosed on the basis of information available with the company regarding status of the suppliers is as follows:
2010-11 2009-10
Rs/Lacs Rs/Lacs
Sr. No. Particulars
Principal Interest Principal Interest
1. Principal Amount and Interest thereon due, remaining unpaid at the end of the year. 15 - 10 -
2. Interest paid during the year 9 (Rs.18376/-) 9 (Rs. 12188/-)
3. Interest due and payable (on the amounts which have been paid beyond the NIL NIL NIL NIL
appointed date during the year)
4. Interest remaining accrued and unpaid at the end of the year NIL NIL NIL NIL
5. Interest due of the previous year NIL NIL NIL NIL
4. There was no impairment loss on Fixed Assets on the basis of review carried out by the Management in accordance with Accounting Standard 28.
5. The break up of net deferred tax liability is as under: (Rs./Lacs)
As on 31.03.2011 As on 31.03.2010
Particulars Deferred tax Deferred tax Deferred tax Deferred tax
liability asset liability asset
Difference between book and tax depreciation 11,227 - 12,212 -
Voluntary Retirement Scheme compensation - 61 - 126
Disallowance u/s 43 B of Income Tax Act - 186 - 124
Exchange Loss on MTM - 1 - 109
11227 248 12212 359
Net deferred tax liability 10979 11853
6. Estimated amount of Contracts remaining to be executed on Capital Account and not provided for Rs.2011 Lacs (Previous Year Rs.8623 Lacs) against which
advances have been paid Rs. 181 Lacs (Previous Year Rs.319 Lacs).
33
7. Contingent Liability in respect of:

(a) Taxation matters Rs. 899 Lacs (Previous Year Rs.231 Lacs)
(b) Taxation matters for which department has gone in appeals Rs. 730 Lacs (Previous Year Rs 369 Lacs)
(c) Other matters Rs. Nil Lacs ( Previous Year Rs.8 Lacs)
8. (a) Excise Department had retrospectively cancelled registration granted to one of the Company's factories at Mahad. This order was set aside by the
Commissioner (Appeals). The appeal of the Department against the order of Commissioner (Appeals) was dismissed by the Tribunal against which Excise
Department had filed an appeal before the High Court which appeal is yet to be admitted.
Excise Department had also issued various separate Show Cause cum Demand Notices(SCNs) on almost similar grounds pertaining to the period April
2000 to March 2003 for alleged short payment of duty on clearances of Polyester Filament yarn from one of the Company's factories at Mahad, denying
applicability of an exemption notification. These SCNs are yet to be disposed off. In view of favourable order of the Tribunal (referred to in the foregoing
paragraph) and legal opinions received by the Company, the demands are unjustified and the Company is advised that it has a very strong case on merits.
(b) The Gujarat Sales-Tax Department had in the earlier years retrospectively withdrawn its own circular which permitted Sales-Tax exemption on purchases
of fuel oil by units exempted from payment of Sales Tax. It had consequently issued notices to the Company for reopening of assessments and levy of tax,
interest and penalty amounting to Rs 360 Lacs for the earlier periods. Pursuant to applications filed by the industry, the Gujarat High Court decided the
matter in favour of the industry. The Gujarat Government has filed an appeal before Supreme Court which is yet to be decided.
9. i. The Company enters into forward exchange contracts being derivative instruments , which are not intended for trading or speculative purposes, but for hedge purposes.
Hedging commitments outstanding for loan taken
As on 31.03.2011 As on 31.03.2010
Currency Amount Cross Amount Currency Amount Cross Amount
hedged Currency Available hedged Currency Available
In Lacs In Lacs In Lacs In Lacs
JPY 4911 USD 55 JPY 8068 USD 86
USD 223 INR 11055 USD 163 INR 7962
EUR 2 USD 3
EUR 5 INR 296
JPY 141 INR 78
ii The year end foreign currency exposures that have not been hedged by a derivative instrument or otherwise are given below. Amount payable in foreign
currency on account of the following
As on 31.03.2011 As on 31.03.2010
Currency In Lacs Currency In Lacs
(a) Interest Payable USD 1 USD -
JPY 5 JPY 7
EURO [Euro 6400] - -
(b) Loan Payable EURO - EURO [Euro 32146]
(c) Amounts Payable EURO [Euro 47621] EURO -
USD 4 USD 1
JPY 23 JPY 71
GBP [GBP 14485] AED 71
10. Revenue expenditure incurred on Research and Development during the year is Rs.195 Lacs ( Previous Year Rs.105 Lacs).
11. Pursuant to an option given in the Notification No.G.S.R 225 (E) issued by Ministry of Corporate affairs on 31.03.2009, the exchange rate loss of Rs 52 Lacs
(Previous Year exchange gain Rs 91 Lacs) arising on account of reporting long term Foreign Currency monetary items relating to fixed assets has been added
to (previous year reduced from) the cost of fixed assets. Consequently profit for the year is higher by 51 Lacs (previous year lower by 86 Lacs).
12. Earnings per Share

2010-11 2009-10
(a) Net profit after tax available for equity shareholders (Rs./Lacs) 7936 10016
(b) Weighted average number of Basic Equity shares of Rs.10 each outstanding during the year (No. of shares) 21760178 20190863
(c) Weighted average number of Diluted Equity shares of Rs.10 each outstanding during the year (No. of shares) 21803426 20383081
(d) Basic Earnings per Share (Rs.) (a/b) 36.47 49.61
(e) Diluted Earnings per Share (Rs.) (a/c) 36.40 49.14
13. The Gross Block of Fixed Assets was written up by Rs.8301 Lacs on revaluation carried out in the year 1983 and 1989.
14. Segment Reporting
a) Primary Segment (by Business Segment):
Based on the guiding principles given in the Accounting Standards on Segment Reporting ( AS - 17 ) the Company is primarily in the business of manufacture
and sale of Synthetic Yarn and Tyre Cord Fabric which mainly have similar risks and returns. The Company's business activity falls within a single geographical
and business segment (Synthetic Yarn), hence it has no other primary reportable segments.
b) Secondary Segment (by Geographical demarcation):
i) The secondary segment is based on geographical demarcation i.e. in India and outside India.
ii) Information about Secondary Segments are as follows: Rs/Lacs

In India Outside India Total In India Outside India Total
Segment Revenue (Gross) 148040 425 148465 132703 - 132703
34
15.(a) Computation of net profit as per Section 349 of the Companies Act, 1956 for the purpose of Directors' commission
2010-11 2009-10
(Rs./Lacs) (Rs./Lacs)
Profit before Taxation as per Profit and Loss Account 10619 15254
Add: Managerial remuneration 87 74
Directors' sitting fees 2 3
Directors' Commission (Non Executive Directors) 20 20
Depreciation as per the books of accounts 6115 6127
Loss on Assets Sold / Written off 58 6282 77 6301
16901 21555
Less: Profit on sale of Investments 12 28
Profit on sale of Assets 33 4
Depreciation as per Sec 350 of the Companies Act,1956 (See Note Below) 6115 6160 6127 6,159
Net Profit 10741 15396
Directors' Commission
- 1% of Net Profit 107 154
- Restricted to overall limit 20 20
Note : The Company depreciates certain fixed assets based on estimated useful lives that are lower than those implicit in Schedule XIV of the Companies
Act, 1956. Accordingly, the rates of depreciation used by the Company are higher than the minimum prescribed by Schedule XIV
(b) Managerial remuneration paid/payable to the Whole Time Director
2010-11 2009-10
Rs./Lacs Rs./Lacs
i) Salaries 75 63
ii) Perquisites 5 5
iii) Contribution to Provident Fund and Superannuation Fund 7 6
87 74
Note: As there is a global contribution to gratuity fund, the amount applicable to an individual employee is not ascertainable and accordingly, contribution to
gratuity fund has not been considered in the above computation.
16. Related Party Disclosures (As identified by the Management and where transactions exist )
(i) Related Party Relationships
(a) Key Management Personnel Mr.G.M. Singhvi
Whole-time Director
(b) Other Related Parties Mr.B.K. Birla
Century Textiles and Industries Limited, Jay Shree Tea and Industries Limited, Kesoram Industries Limited
NOTES:
1) he parties listed under (b) above are not "related parties" as per the requirements of Accounting Standard AS-18. However, as a matter of abundant
T
caution, they are being included for making the Financial Statements more transparent.
2) In respect of the above parties, there is no provision for doubtful debts as on 31st March,2011 and no amount has been written off or written back
during the year in respect of debts due from/to them.
(ii) Transactions with Related Parties (Rs./Lacs)

Type of related party Description of the nature of the transaction 2010-11 2009-10
Volume of Outstanding as on Volume of Outstanding as on
transactions 31.03.2011 transactions 31.03.2010
Receivable Payable Receivable Payable
Key Management Personnel Managerial Remuneration paid 87 - - 74 - -
Other related Parties Sale of Motor Vehicle and Furniture 3 - - - - -

Director's fees, commission and expenses 5 - 5 6 - 5
Sale of goods ( Kesoram Industries Ltd ) 20341 2746 - 20697 2981 -
Dividend Received (Kesoram Industries Ltd, Kesoram 43 - - 43 - -
Insurance Broking Services Ltd & Vasavdatta Services Ltd. )
Purchase of Cement (Vasavdatta Cements Division 13 - - 3 - -
Kesoram Industries Ltd )
Dividend Paid ( Kesoram Industries Ltd & Jay Shree Tea 86 - - 72 - -
& Industries Ltd.)
Expenditure on rent and other services 5 - - 25 - -
(Century Textiles and Industries Ltd and Kesoram Industries Ltd)
Proceeds on issue of Preferential Warrants and Equity 709 - - 993 - -
Share Capital including Premium (Century Textile and
Industries Ltd)
Purchase of Fixed Assets ( Century Textiles and Industries Ltd) 7 - - - - -
35
17. ADDITIONAL INFORMATION PURSUANT TO THE PROVISIONS OF PARAGRAPHS 3 AND 4 OF PART II OF SCHEDULE VI TO THE COMPANIES ACT, 1956
(a) Licensed and Installed Capacity of the Products
NIC PRODUCTS (of Polyester/Nylon) Installed Capacity
Code $ (Per Annum) MT
302.9 Polymer / Chips 146000 *
(146000)
306.2 Synthetic Filament Yarn (including Industrial Yarn) 125200 **
(125200)
269.9 Tyre Cord Fabric 22000
(22000)
NOTES:
1 Previous Year's figures have been given in brackets.
2 Information on Licence/Approved capacity has not been given since Licensing has been abolished.
3 Installed Capacity is as certified by the Management of the Company and relied upon by the Auditors.
* Including for captive consumption for Synthetic Filament Yarn 127400 MT (Previous Year 127400 MT).
** Including for captive consumption for Tyre Cord Fabric 22000 MT ( Previous Year 22000 MT).
$ NIC refers to National Industrial Classification Code.
(b) Details of Products manufactured for Sale, Purchase of Goods for Resale, Turnover, Stock, Processing charges and Raw Materials consumed, etc.
I. PRODUCTS
Opening Stock Production @ Turnover (Gross) Closing Stock
Quantity Value Quantity Value Quantity Value Quantity Value
MT Rs./Lacs MT Rs./Lacs # MT Rs./Lacs MT Rs./Lacs
Nylon Chips 25 33 231 - 54 84 202 339
(-) (-) (674) (-) (649) (890) (25) (33)
Nylon Filament Yarn 1432 2857 14698 - 14427 35762 1703 4,079
(1027) (1559) (13638) (-) (13233) (28788) (1432) (2857)
Polyester Chips 2261 1516 12838 - 13959 9632 1140 1,019
(1271) (621) (16667) (-) (15677) (9320) (2261) (1516)
Polyester Filament Yarn 951 779 57846 - 55794 48983 3003 3,277
(443) (288) (55878) (-) (55370) (43069) (951) (779)
Nylon Industrial Yarn 117 212 1262 - 1219 2601 160 319
(99) (113) (748) (-) (730) (1100) (117) (212)
Nylon Tyre Cord Fabric 984 1846 20603 - 19607 49837 1980 4,544
(889) (1196) (22129) (-) (22034) (48060) (984) (1,846)
Goods for Export
-Nylon Filament Yarn - - 8 - 8 17 - -
(-) (-) (-) (-) (-) (-) (-) (-)
-Nylon Chips - - 2 - 2 5 - -
(-) (-) (-) (-) (-) (-) (-) (-)
-Polyester Chips - - 680 - 680 403 - -
(-) (-) (-) (-) (-) (-) (-) (-)
Others (Waste & Scrap) - 69 - - - 607 - 47
(-) (59) (-) (-) (-) (784) (-) (69)
147931
(132011)
Goods for Resale (#)
i) Nylon Yarn - - 56 141 56 153 - -
(-) (-) (10) (12) (10) (17) (-) (-)
ii) Rayon Yarn - - - - - - - -
(39) (163) (18) (64) (57) (260) (-) (-)
iii) Spandex Yarn - - 79 283 64 261 15 56
(8) (28) (-) (-) (8) (30) (-) (-)
(iv) PTA - - 42 20 42 19 - -
(-) (-) (387) (174) (387) (195) (-) (-)
(v) Glycol - - 200 95 200 101 - -
(-) (-) (292) (127) (292) (149) (-) (-)
(vi) Thermic Fluid (Thermin) - - - - - - - -
(-) (-) (14) (41) (14) (41) (-) (-)
148465
(132703)
NOTES:
1 Previous Year's figures have been given in brackets and have been regrouped and rearranged, wherever necessary
@ Excluding for captive consumption
# Information given under the Column 'Production' represents 'Purchases'.
II. Raw Materials Consumed

Quantity (MT) Value (Rs./Lacs)
2010-11 2009-10 2010-11 2009-10
PTA 60649 61507 30478 27169
Caprolactam 35292 36544 46923 35516
Glycol 23514 23915 10446 8560
Others 5639 4720
93486 75965
[The above figures do not include consumption from/addition to process inventory and also consumption of 2072 tonnes (Previous Year :1883 tonnes) of own
waste used for the purpose of recovery of Caprolactam].
36
III. Value of Materials consumed and Percentage thereof:

Consumption (Rs./Lacs)
Total Value of Imported Indigenous
Consumption
2010-11 2009-10 2010-11 2009-10 2010-11 2009-10
Raw Materials 93486 75965 5180 8012 88306 67953
Stores, Spare Parts and Packing Material 5579 5218 593 676 4986 4542
99065 81183 5773 8688 93292 72495
Percentage to Total Consumption
Raw Materials 5.54% 10.55% 94.46% 89.45%
Stores, Spare Parts and Packing Material 10.63% 12.96% 89.37% 87.04%
2010-11 2009-10
(c) CIF Value of Imports Rs./Lacs Rs./Lacs
Raw Materials 4061 8533
Stores and Spare Parts (Including Components) 905 761
Capital Goods 12566 60
17532 9354
2010-11 2009-10
Rs./Lacs Rs./Lacs
(d) Expenditure in Foreign Currency (Including amounts provided but yet to be remitted)
(i) Interest and Finance Charges 93 140
(ii) Others 326 27
419 167
(e) Remittance on account of Dividend to Non-Resident Shareholders: (i) Remitted in Foreign Currency
2010-11 2009-10
Year to which Dividend relates Year ended Year ended
2010 2009
Net Amount of Dividend remitted (Rs./Lacs ) 85 71
Number of Shareholders 5 5
Number of shares held 1419470 1419470
(ii) Remitted to their Banks in India
2010-11 2009-10
Year to which Dividend relates Year ended Year ended
2010 2009
Net Amount of Dividend remitted (Rs./Lacs) 27 20
Number of Shareholders 363 330
Number of shares held 445200 402964
(f) Earnings in foreign Exchange 2010-11 2009-10

Rs./Lacs Rs./Lacs
Export Sales 425 -
Sale on Commission Basis 4 -
18. Previous Year's figures have been regrouped and rearranged, wherever necessary.
19. All the amounts in rupees have been rounded off to lacs as permitted under Notification No.GSR 545 (E) dated 1st August,2002 issued by Department
of Company Affairs, Government of India. Figures less than Rs.50,000 have been shown as actuals in brackets.
NOTE: Signatures to schedules from Schedule 'A' to Schedule 'I' forming part of the Accounts
For PRICE WATERHOUSE For and on behalf of the Board of Directors


Date: May 02, 2011 Partner Secretary Date: May 02, 2011 G. M. Singhvi
Membership No. F 48125 (Directors)
37
ADDITIONAL INFORMATION PURSUANT TO THE PROVISIONS OF PART IV OF SCHEDULE VI TO THE COMPANIES ACT, 1956
BALANCE SHEET ABSTRACT AND COMPANY'S GENERAL BUSINESS PROFILE
I. Registration Details
Registration No. State Code
2 6 6 7 0 2 1
Balance Sheet Date
Date Month Year
3 1 0 3 1 1
II. Capital raised during the year (Amount in Rs. Thousands)
Public Issue Rights Issue
N I L N I L
Bonus Issue Private Placement
N I L 1 0 0 0 0
III. Position of Mobilisation and Deployment of funds (Amount in Rs.Thousands)
Total Liabilities Total Assets
6 2 9 2 8 6 0 1 2 8 1 0 0 3 1
(Excl. Shareholders' Funds) (Excl. Miscellaneous Expenditure)
Source of Funds: Paid - up Capital Reserve & Surplus
2 1 8 5 0 6 6 2 9 8 6 6 5
Secured Loans Unsecured Loans
3 1 3 3 3 3 1 9 3 0 4 2 5
Application of Funds: Net Fixed Assets Investments
7 4 6 3 4 8 1 3 1 8 2 7
Net Current Assets Miscellaneous Expenditure
4 1 8 3 5 5 5 N I L
Accumulated Losses
N I L
IV. Performance of Company (Amount in Rs.Thousands)

Turnover (including Other Income) Total Expenditure
1 4 3 5 5 0 2 0 1 3 2 9 3 0 7 2
Profit / Loss Before Tax Profit / Loss After Tax
1 0 6 1 9 4 8 7 9 3 6 3 8
Earnings per Share in Rs. Dividend rate %
3 6 . 4 7 6 5
V. Generic Names of Three Principal Products/Services of the Company (as per monetary items)
Item Code No. 5 4 0 2 4 2 . 0 0 Product Description POLYESTER FILAMENT YARN
(ITC Code)
Item Code No. 5 9 0 2 1 0 . 0 0 Product Description NYLON TYRE CORD FABRIC

(ITC Code)
Item Code No. 5 4 0 2 4 1 . 0 0 Product Description NYLON FILAMENT YARN

(ITC Code)
NOTE: Signatures to schedules from Schedule 'A' to Schedule 'I' forming part of the Accounts
Place : Mumbai C.B.GAGRANI B. K. Birla

Date: May 02, 2011 Secretary G. M. Singhvi
(Directors)
38
FORM OF
FORM PROXY
OF PROXY

LIMITED
Regd Ofce: Birla Building,
Century Arcade,7th
2ndFloor, 9/1, R.N.
Floor, Narangi Mukherjee
Baug Road,
Road, Pune - 411Kolkata
001. - 700001
Regd. Folio No. .......................................

DP ID .......................................................
Client I D ...................................................
No. of shares held ...................................
Proxy No. .................................................
I/We.............................................................................................................................................................................................
of .................................................................................................................................................................................
being a member/members of CENTURY ENKA LIMITED, hereby appoint ............................................................
............................................................................................ of ................................................................................ or
failing him/her .................................................................... of ............................................................................... as
Fifth Annual General Meeting of the
my/our proxy to attend and vote for me/us on my/our behalf at the Forty Fourth
1st July,
Company to be held on Friday, the 2nd July, 2011
2010 and at any adjournment thereof.
Afx
30 Paise
15
Signed this ...................... day of .........................................2011
2010. Revenue
stamp
here
(Signature)

Notes: 1. The form should be signed across the stamp as per specimen signature recorded with the company.
2. Pune not less than forty
The Proxy form duly completed must reach the Registered Ofce of the Company at Kolkata
eight hours before the aforesaid Meeting as provided by Article 93 of the Company’s Articles of Association.
3. A Proxy need not be a Member of the Company.
ATTENDANCE
ATTENDANCE SLIP
SLIP


LIMITED
Regd Ofce: Birla Building,
Century Arcade, 7th
2ndFloor, 9/1, R.N.
Floor, Narangi Mukherjee
Baug Road,
Road, Pune - 411Kolkata
001. - 700001
Regd. Folio No. .......................................

DP ID .......................................................
Client I D ...................................................
No. of shares held ...................................
I hereby record my presence at the Forty Fourth Fifth Annual General Meeting of the Company held at Pudumjee Kala Kunj,
Hall,Shakespeare
48, Mahratta Chamber
Sarani,ofKolkata-700
Commerce,017 Industries
on Friday, and the
Agriculture,
2nd July,Tilak 2010. Road, Pune-411 002.
1 Full Name of the Member
(in Block Letters) .................................................................................................................................................
2. Full name of the Joint-holder(s) ..........................................................................................................................
(in Block Letters). ................................................................................................................................................
3.* Full Name of the Proxy .......................................................................................................................................
(in Block Letters)
4. Signature of the Member/Proxy
attending the Meeting .........................................................................................................................................
* To be lled-in if the Proxy attends instead of Member(s)
Note: Member/Proxy attending the Meeting must ll-in this Attendance Slip and hand it over at the entrance of
the venue of the Meeting.
FINANCIAL HIGHLIGHTS
OPERATING RESULTS
(Rupees in Lacs)
FINANCIAL YEAR 2010-11 2009-10 2008-09 2007-08 2006-07
INCOME
Sales (Net of returns and Sales Tax) 148465 132703 126430 131334 108985
Less : Excise Duty 14032 9616 10197 12966 10912
134433 123087 116233 118368 98073
Other Income (Including Operating Income ) 1276 1005 1898 959 1784
135709 124092 118131 119327 99857
EXPENDITURE
Materials & Overheads ( + / - Stock Adj. ) 117917 101991 107581 108262 90362
PROFIT BEFORE INTEREST, DEPRECIATION AND TAX 17792 22101 10550 11065 9495
Less : Interest ( Net ) 1058 741 2382 3062 1797
PROFIT BEFORE DEPRECIATION AND TAX 16734 21360 8168 8003 7698
Less : Current Depreciation ( Net ) 6115 6106 5910 5902 5420
Less : Tax ( Net ) - Including Deferred Tax 2683 5238 596 760 606
NET PROFIT 7936 10016 1662 1341 1672
DIVIDEND ( % ) 65% 60% 50% 50% 60%
EARNING PER SHARE ( Rs. ) * 36.47 * 49.61 8.29 6.69 8.34
CASH EARNINGS PER SHARE ( Rs. ) * 64.57 * 79.85 37.77 36.12 35.37
BOOK VALUE PER SHARE ( Rs. ) * 294.43 * 276.81 227.21 221.70 224.78
* Calculated on Weighted average of shares outstanding during the year.
SOURCE AND APPLICATION OF FUNDS

(Rupees in Lacs)
As on As on As on As on As on
31.03.2011 31.03.2010 31.03.2009 31.03.2008 31.03.2007
A . SOURCE OF FUNDS
Shareholders' Funds
Share Capital 2185 2085 2005 2005 2005
Equity Share Warrants - 473 - - -
Reserves & Surplus ( including Revaluation ) 62987 54931 45032 44306 44258
65172 57489 47037 46311 46263
Loan Funds 40637 20761 28445 43411 43046
Net Deferred Tax Liability 10979 11853 13179 13857 13893
(A) 116788 90103 88661 103579 103202
B. APPLICATION OF FUNDS
Fixed Assets ( Gross ) 169263 150992 152169 154254 153302
Depreciation 94628 89982 85625 83213 77427
Fixed Assets ( Net ) 74635 61010 66544 71041 75875
Investments 319 319 319 319 319
Current Assets ( Net ) 41834 28774 21462 31533 27008
VRS Compensation - - 336 686 -
(B) 116788 90103 88661 103579 103202
BOOK POST
print@parksonsgraphics.com
Rajashree Polyfil Plant
If undelivered, please return to: CENTURY ENKA LIMITED, Bhosari, Pune - 411026

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CENTURY ENKA LIMITED

Annual Report 2010-2011

45th Annual Report 2010-11

Forty Fifth Annual Report 2010-11

HEAD OFFICE REGISTERED OFFICE KOLKATA OFFICE

Bhosari, Pune-411 026 Rajashree Polyfil

SHARE TRANSFER AGENT

45th Annual Report 2010-11

NOTICE TO THE SHAREHOLDERS 2. To declare dividend on Equity Shares.

NOTES: date of the meeting to enable the Management to

45th Annual Report 2010-11

45th Annual Report 2010-11

45th Annual Report 2010-11

CORPORATE GOVERNANCE DIRECTORS

ANNEXURE TO THE DIRECTORS’ REPORT 5• Replacement of conventional screw by barrier screw

45th Annual Report 2010-11

Efforts made in Technology absorption as per Form - B 2• Improvement in capacity utilisation.

a) Research & Development ( R & D) (iii) Future Plan of Action

Note: The Company has spent Rs.75 lacs (Previous year

45th Annual Report 2010-11

(PURSUANT TO SECTION 217 (1) (e) OF THE COMPANIES ACT, 1956)

Current Previous Current Previous

(a) Purchased Quantity (Kgs) - 1080310

Units (KWH) 112033250 61934866 Total Amount (Rs. in Lacs) - 41.08

Total Amount (Rs. in Lacs) 6307.68 3488.85 Rate/Unit (Rs.) - 3.80

Rate per Unit (Rs.) 5.63 5.63 (c) Purchased

(b) Own Generation Units (Ton) 55224 37401

(i) Through Generators Cost per unit (Rs.) 1365 1236

Units (KWH) 89217801 136967127 3. OTHER FUEL (Used for

- F.O./ L.D.O. Cost per unit (Rs.) 172.52 180.03

Quantity (Kgs) 20220222 30400041

45th Annual Report 2010-11

MANAGEMENT’S DISCUSSION AND ANALYSIS

PTA Price Trend MEG Price Trend

Caprolactam Price Trend Furnace Oil Price Trend

45th Annual Report 2010-11

45th Annual Report 2010-11

9. DISCUSSION ON FINANCIAL PERFORMANCE WITH Industrial relations continue to be cordial. Regular

45th Annual Report 2010-11

CORPORATE GOVERNANCE REPORT

No. of outside Membership Chairmanship

2. Number of Board Meetings and Attendance Record of Directors

Details of Board Meetings :

Number of Board Meetings held during 2010-11 : 5

45th Annual Report 2010-11

Attendance Record of Directors :

Number of Board Number of Board Whether attended last AGM

Details of Remuneration paid to Mr.G M Singhvi - Whole-time Director

4. Directors’ Interest in the Company

45th Annual Report 2010-11

6. Shareholders / Investors Grievance Committee

7. Share Transfer Committee of Directors

45th Annual Report 2010-11

8. General Body Meeting

Year Date Time Location

Particulars No. of Ballots No. of shares held

Votes in favour of the Resolution 1884 82,50,498

9. Any Non-compliance, Penalties or Strictures Imposed

12. Shareholders Information

ANNEXURE TO THE DIRECTORS’ REPORT 5• Replacement of conventional screw by barrier screw

Note: The Company has spent Rs.75 lacs (Previous year

Units (KWH) 89217801 136967127 3. OTHER FUEL (Used for

9. DISCUSSION ON FINANCIAL PERFORMANCE WITH Industrial relations continue to be cordial. Regular

Stock Code : Bombay Stock Exchange : 500280