Annual Report FY'17

GERDAU STEEL INDIA PRIVATE LIMITED
Standalone Financial Statements for period 01/04/2016 to 31/03/2017
[700300] Disclosure of general information about company

Unless otherwise specified, all monetary values are in Thousands of INR
01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
(A) GERDAU
Name of company STEEL INDIA PRIVATE
LIMITED
Corporate identity number U27109AP1993PTC015499
Permanent account number of entity AACCS8629N
TADIPATRI MANDAL
,ANANTHPUR, VILLAGE
Address of registered office of company JAMBULAPADU, HYDERABAD,
Andhra Pradesh, 515411,
India,
Commercial and
Type of industry Industrial
Registration date 16/03/1993
Company limited by shares
Category/sub-category of company / Non-govt company
Whether company is listed company No
Gerdau Holdings Europa
Name of parent entity SA Y CIA S.R.C
Date of board meeting when final accounts were approved 11/08/2017
Period covered by financial statements 12 Months 12 Months
Date of start of reporting period 01/04/2016 01/04/2015
Date of end of reporting period 31/03/2017 31/03/2016
Nature of report standalone consolidated Standalone
Content of report Financial Statements
Description of presentation currency INR
Level of rounding used in financial statements Thousands
Type of cash flow statement Indirect Method
Whether company is maintaining books of account and other relevant
Yes
books and papers in electronic form
TADIPATRI MANDAL
,ANANTHPUR, VILLAGE
Complete postal address of place of maintenance of computer
JAMBULAPADU, HYDERABAD,
servers (storing accounting data) Andhra Pradesh, 515411,
India,
Name of city of place of maintenance of computer servers (storing
JAMBULAPADU VILLAGE
accounting data)
Name of state/ union territory of place of maintenance of
Andhra Pradesh
computer servers (storing accounting data)
Pin code of place of maintenance of computer servers (storing
515411
accounting data)
Name of district of place of maintenance of computer servers
ANANTHPUR
(storing accounting data)
ISO country code of place of maintenance of computer servers
365
Name of country of place of maintenance of computer servers
INDIA
Phone (with STD/ ISD code) of place of maintenance of computer
+91
servers (storing accounting data)
Total number of product or service category Three
Footnotes
(A) Formerly known as Gerdau Steel India Limited
GERDAU STEEL INDIA PRIVATE LIMITED Standalone Financial Statements for period 01/04/2016 to 31/03/2017
Disclosure of principal product or services [Table] ..(1)

Types of principal product or services [Axis] Product1 Product2 Product3
01/04/2016 01/04/2016 01/04/2016
to to to
31/03/2017 31/03/2017 31/03/2017
Disclosure of general information about company [Abstract]
Disclosure of principal product or services [Abstract]
Disclosure of principal product or services [LineItems]
Product or service category (ITC 4 digit) code 7227 7201 7207
BARS AND RODS,
PIG IRON AND SEMI-FINISHED
HOT-ROLLED, IN
SPIEGELEISEN IN PRODUCTS OF I
IRREGULARLY
Description of product or service category WOUND COILS,
PIGS, BLOCKS OR R O N OR
OTHER PRIMARY NONALLOY
OF OTHER ALLOY
FORMS STEEL
STEEL
Turnover of product or service category 92,70,567.76 11,59,701.7 4,99,841.09
Highest turnover contributing product or service (ITC 8 digit) code 72279090 72015090 72071920
BARS AND RODS,
PIG IRON AND SEMI-FINISHED
HOT-ROLLED, IN
SPIEGELEISEN IN PRODUCTS OF I
IRREGULARLY
Description of product or service WOUND COILS,
PIGS, BLOCKS OR R O N OR
OTHER PRIMARY NONALLOY
OF OTHER ALLOY
FORMS STEEL
STEEL
Turnover of highest contributing product or service 92,70,567.76 11,59,701.7 4,99,841.09
[700600] Disclosures - Directors report
Details regarding auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report [Table] ..(1)
Auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report [Axis] Remark
01/04/2016
to
31/03/2017
Details regarding auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report
[Abstract]
Details regarding auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report
[LineItems]
Textual information
Auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report (1) [See below]
Textual information
Directors' comment on auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report (2) [See below]
2
Details of shareholding pattern of directors and key managerial personnel [Table] ..(1)
Directors and key managerial personnel [Axis] Director1
Shareholding at beginning of year Cumulative shareholding during year
Change in shareholding [Axis]
[Member] [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
Total number of shares held at end of period [shares] 35,200 [shares] 35,200 [shares] 35,200 [shares] 35,200
Percentage of total shares held at end of period 0.00% 0.00% 0.00% 0.00%
Increase decrease in shareholding during year [shares] 0 [shares] 0
Percentage increase decrease in
0.00% 0.00%
shareholding during year
Percentage of total shares held at end of
0.00% 0.00% 0.00% 0.00%
period
Percentage increase decrease in shareholding
0.00% 0.00%
during year
Details of shareholding pattern of directors
and key managerial personnel [Abstract]
Details of shareholding pattern of
directors and key managerial personnel
[LineItems]
Name of directors and key managerial
Yalamanchili Jithin Kumar Yalamanchili Jithin Kumar
personnel
0.00% 0.00%
0.00% 0.00% 0.00% 0.00%
period
3
[Member] [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
Total number of shares held at end of period [shares] 402 [shares] 402 [shares] 402 [shares] 402
0.00% 0.00%
0.00% 0.00% 0.00% 0.00%
period
0.00% 0.00%
during year
[LineItems]
Name of directors and key managerial Yalamanchili Janardhana Yalamanchili Janardhana
personnel Rao Rao
0.00% 0.00%
0.00% 0.00% 0.00% 0.00%
period
4
[Member] [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
0.00% 0.00%
0.00% 0.00% 0.00% 0.00%
period
0.00% 0.00%
during year
[LineItems]
Sridhar Krishnamoorthy Sridhar Krishnamoorthy
personnel
0.00% 0.00%
0.00% 0.00% 0.00% 0.00%
period
5
[Member] [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
Increase decrease in shareholding during year [shares] -1 [shares] -1
0.00% 0.00%
0.00% 0.00% 0.00% 0.00%
period
0.00% 0.00%
during year
[LineItems]
Sham Krishna Sham Krishna
personnel
0.00% 0.00%
0.00% 0.00% 0.00% 0.00%
period
6
[Member] [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
0.00% 0.00%
0.00% 0.00% 0.00% 0.00%
period
0.00% 0.00%
during year
[LineItems]
Jose Fernando Vedana Jose Fernando Vedana
personnel
0.00% 0.00%
0.00% 0.00% 0.00% 0.00%
period
7
[Member] [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
0.00% 0.00%
0.00% 0.00% 0.00% 0.00%
period
0.00% 0.00%
during year
[LineItems]
Ramaswamy Visweswaran Ramaswamy Visweswaran
personnel
0.00% 0.00%
0.00% 0.00% 0.00% 0.00%
period
Details of directors signing board report [Table] ..(1)

Directors signing board report [Axis] Sign1 Sign2
01/04/2016 01/04/2016
to to
31/03/2017 31/03/2017
Details of signatories of board report [Abstract]
Details of directors signing board report [LineItems]
Name of director signing board report [Abstract]
First name of director RAMASWAMY SRIDHAR
Middle name of director VISWESWARAN
Last name of director KRISHNAMOORTHY
Whole Time
Designation of director Director
Managing Director
Director identification number of director 07268366 06738209

Date of signing board report 30/08/2017 30/08/2017
8
Details of shareholding pattern [Table] ..(1)

Shareholding pattern [Axis] Shareholders [Member] Promoters [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
Details of shareholding pattern [Abstract]
Details of shareholding pattern [LineItems]
[shares] [shares] [shares] [shares]
Number of demat shares held at end of period 163,51,34,773 163,51,34,773 160,91,67,117 160,91,67,117
[shares] [shares]
Number of physical shares held end of period 73,89,54,377
[shares] 73,89,54,377
73,87,60,128
[shares] 73,87,60,128
Total number of shares held at end of period 237,40,89,150 237,40,89,150 234,79,27,245 234,79,27,245
Percentage of change in shares held during year 0.00% 0.00%
100.00% 100.00% 98.90% 98.90%
period
100.00% 100.00% 98.90% 98.90%
period

Shareholding pattern [Axis] Indian [Member] Corporate bodies [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
Number of demat shares held at end of period 160,91,67,117 160,91,67,117 160,91,67,117 160,91,67,117
[shares] [shares]
Number of physical shares held end of period 73,87,60,128
[shares] 73,87,60,128
73,87,60,128
[shares] 73,87,60,128
98.90% 98.90% 98.90% 98.90%
period
98.90% 98.90% 98.90% 98.90%
period
9

Shareholding pattern [Axis] Public shareholding [Member] Institutions [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
Number of demat shares held at end of period [shares] 2,59,67,656 [shares] 2,59,67,656 [shares] 2,03,40,000 [shares] 2,03,40,000
Number of physical shares held end of period [shares] 1,94,249 [shares] 1,94,249 [shares] 0 [shares] 0
Total number of shares held at end of period [shares] 2,61,61,905 [shares] 2,61,61,905 [shares] 2,03,40,000 [shares] 2,03,40,000
1.10% 1.10% 0.85% 0.85%
period
1.10% 1.10% 0.85% 0.85%
period

Public shareholding banks/financial
Shareholding pattern [Axis] Others institutions [Member]
institutions [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
(A) [shares] [shares]
Number of demat shares held at end of period [shares] 3,40,000 [shares] 3,40,000
2,00,00,000 2,00,00,000
Number of physical shares held end of period [shares] 0 [shares] 0 [shares] 0 [shares] 0
[shares]
Total number of shares held at end of period [shares] 3,40,000 [shares] 3,40,000 [shares] 2,00,00,000
2,00,00,000
[shares]
2,00,00,000
[shares]
2,00,00,000
0.01% 0.01% 0.84% 0.84%
period
[shares]
2,00,00,000
[shares]
2,00,00,000
0.01% 0.01% 0.84% 0.84%
period
Footnotes
(A) Trusts
10

Non institutions corporate bodies
Shareholding pattern [Axis] Non institutions [Member]
[Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
Number of demat shares held at end of period [shares] 56,27,656 [shares] 56,27,656 [shares] 15,12,880 [shares] 15,12,880
Number of physical shares held end of period [shares] 1,94,249 [shares] 1,94,249 [shares] 1,31,200 [shares] 1,31,200
Total number of shares held at end of period [shares] 58,21,905 [shares] 58,21,905 [shares] 16,44,080 [shares] 16,44,080
0.25% 0.25% 0.07% 0.07%
period
0.25% 0.25% 0.07% 0.07%
period

Shareholding pattern [Axis] Indian corporate bodies [Member] Individuals [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
Number of demat shares held at end of period [shares] 15,12,880 [shares] 15,12,880 [shares] 6,33,370 [shares] 6,33,370
Number of physical shares held end of period [shares] 1,31,200 [shares] 1,31,200 [shares] 63,049 [shares] 63,049
0.07% 0.07% 0.03% 0.03%
period
0.07% 0.07% 0.03% 0.03%
period
11

Individual shareholders holding nominal Individual shareholders holding nominal
Shareholding pattern [Axis] share capital upto rupees one lakh share capital in excess of rupees one lakh
[Member] [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
Number of demat shares held at end of period [shares] 0 [shares] 0 [shares] 6,33,370 [shares] 6,33,370
Number of physical shares held end of period [shares] 3,609 [shares] 3,609 [shares] 59,440 [shares] 59,440
Total number of shares held at end of period [shares] 3,609 [shares] 3,609 [shares] 6,92,810 [shares] 6,92,810
0.00% 0.00% 0.03% 0.03%
period
0.00% 0.00% 0.03% 0.03%
period

Shareholding pattern [Axis] Other non-institutions [Member]
01/04/2016
to 31/03/2016
31/03/2017
Number of demat shares held at end of period (A) [shares] 34,81,406 [shares] 34,81,406
Number of physical shares held end of period [shares] 0 [shares] 0
Total number of shares held at end of period [shares] 34,81,406 [shares] 34,81,406
Percentage of total shares held at end of period 0.15% 0.15%
Percentage of change in shares held during year 0.00%
Footnotes
(A) HUF
12
Details of indebtedness of company [Table] ..(1)

Secured loans excluding deposits
Indebtedness [Axis] Indebtedness [Member]
[Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
Details of indebtedness of company [Abstract]
Details of indebtedness of company [LineItems]
Changes in indebtedness [Abstract]
Addition in indebtedness 19,40,909.32 19,40,909.32
Reduction in indebtedness 11,29,371.43 11,29,371.43
Total changes in indebtedness 8,11,537.89 8,11,537.89
Principal amount at end of financial year 1,07,33,328.89 99,21,791 1,05,53,328.89 97,41,791
Interest due but not paid at end of financial
0 0 0 0
year
Interest accrued but not due at end of
72,064.79 78,005.22 72,064.79 78,005.22
financial year
Total indebtedness at end of financial year 1,08,05,393.68 99,99,796.22 1,06,25,393.68 98,19,796.22
Details of indebtedness of company [Table] ..(2)

Indebtedness [Axis] Unsecured loans [Member]
01/04/2016
to 31/03/2016
31/03/2017
Details of indebtedness of company [LineItems]
Addition in indebtedness 0
Reduction in indebtedness 0
Total changes in indebtedness 0
Principal amount at end of financial year 1,80,000 1,80,000
Interest due but not paid at end of financial year 0 0
Interest accrued but not due at end of financial year 0 0
Total indebtedness at end of financial year 1,80,000 1,80,000
Details of principal business activities contributing 10% or more of total turnover of company [Table] ..(1)
Product/service 1 Product/service 2 Product/service 3
Principal business activities of company [Axis]
[Member] [Member] [Member]
01/04/2016 01/04/2016 01/04/2016
to to to
31/03/2017 31/03/2017 31/03/2017
Details of principal business activities contributing 10% or more
of total turnover of company [Abstract]
Details of principal business activities contributing 10% or
more of total turnover of company [LineItems]
Name of main product/service Pig Iron Billets Bars
Description of main product/service Pig Iron Billets Bars
NIC code of product/service 27130 27141 27151
Percentage to total turnover of company 6.00% 6.00% 88.00%
13
Top ten employed throughout the financial year was in receipt of remuneration in aggregate for that year not less than one crore and
..(1)
two lakh rupees [Table]
Top ten employed throughout the financial year was in receipt of remuneration in aggregate for that year not less than one crore and Employee 1
two lakh rupees [Axis] [Member]
01/04/2016
to
31/03/2017
Top ten employed throughout the financial year was in receipt of remuneration in aggregate
for that year not less than one crore and two lakh rupees [Abstract]
Top ten employed throughout the financial year was in receipt of remuneration in
aggregate for that year not less than one crore and two lakh rupees [Line items]
Designation of employee Managing Director
Remuneration received 2,80,83,496
Nature of employment-contractual or otherwise Permanent
Qualifications B E, M E, MBA
Experience 31
Date of commencement of employment 11/11/2013
Age in Years [pure] 0.55
Abu Dhabi Basic
Last employment held by the employee Industries
Corporations
Percentage of equity shares held(with spouse and children) 0.00%
Whether the employee is a relative of any director or manager No
Experience 31
Abu Dhabi Basic
Corporations
Experience 31
Abu Dhabi Basic
Corporations
14
Particulars of holding, subsidiary and associate companies [Table] ..(1)

Particulars of companies [Axis] Holding
01/04/2016
to
31/03/2017
Particulars of holding, subsidiary and associate companies [Abstract]
Particulars of holding, subsidiary and associate companies [LineItems]
Gerdau Holdings
Name of company Europa S.A. Y CIA,
SRC
CL Barrio Ugrate
Address of company S/N 48970, Basauri,
Spain
Country of incorporation of company SPAIN
GLN of company NA
Type of company Holding Company
Percentage of shares held 98.90%
Applicable section 2 (46)
Details of shareholding of promoters [Table] ..(1)

Promoters [Axis] Promoter1
01/04/2016
to 31/03/2016
31/03/2017
[shares]
Total number of shares held at end of period [shares] 234,79,27,245
234,79,27,245
Details of shareholding of promoters [Abstract]
Details of shareholding of promoters [LineItems]
Gerdau Holdings Europa S
Shareholder’s name A Y CIA, S.R.C.
[shares]
234,79,27,245
Percentage of shares pledged/encumbered to total shares at end of period 1.20% 1.20%
[shares]
234,79,27,245
[shares]
234,79,27,245
[shares]
234,79,27,245
15
Details of change in promoters’ shareholding [Table] ..(1)

Promoters [Axis] Promoter1
Change in shareholding [Axis] Shareholding [Member]
31/03/2017 31/03/2016
[shares] [shares]
Total number of shares held at end of period 234,79,27,245 234,79,27,245
[shares] [shares]
Details of change in promoters’ shareholding [Abstract]
Details of change in promoters’ shareholding [LineItems]
[shares] [shares]
[shares] [shares]
[shares] [shares]
Details of shareholding pattern of top 10 shareholders [Table] ..(1)

Name of top 10 shareholder [Axis] Name of top 10 shareholder [Member] Top 1 shareholder [Member]
Shareholding at beginning of year
Change in shareholding [Axis] Shareholding [Member]
[Member]
01/04/2016
31/03/2017 31/03/2016 to 31/03/2016
31/03/2017
[shares] [shares] [shares]
[shares] 2,00,00,000
2,00,00,000
[shares] 2,00,00,000
2,00,00,000
Increase decrease in shareholding during year [shares] 0
0.00%
[shares] 2,00,00,000
2,00,00,000
100.00% 100.00% 0.84% 0.84%
period
Details of shareholding pattern of top 10
shareholders [Abstract]
shareholders [LineItems]
Stressed Assets Stabilisation
Name of shareholder Fund (SASF)
0.00%
during year
[shares] 2,00,00,000
2,00,00,000
0.00%
[shares] 2,00,00,000
2,00,00,000
100.00% 100.00% 0.84% 0.84%
period
16

Name of top 10 shareholder [Axis] Top 1 shareholder [Member] Top 2 shareholder [Member]
Cumulative shareholding during year Shareholding at beginning of year
[Member] [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
[shares]
2,00,00,000
[shares] 34,81,406 [shares] 34,81,406
[shares]
2,00,00,000
[shares] 34,81,406 [shares] 34,81,406
0.00% 0.00%
[shares]
2,00,00,000
[shares] 34,81,406 [shares] 34,81,406

0.84% 0.84% 0.15% 0.15%
period
Name of shareholder Fund (SASF)
Y. Jithin Kumar (HUF)

0.00% 0.00%
during year
[shares]
2,00,00,000
[shares] 34,81,406 [shares] 34,81,406
0.00% 0.00%
[shares]
2,00,00,000
[shares] 34,81,406 [shares] 34,81,406

0.84% 0.84% 0.15% 0.15%
period
17

[Member] [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
[shares]
Total number of shares held at end of period [shares] 34,81,406 [shares] 34,81,406 [shares] 15,12,880
15,12,880
[shares]
15,12,880
0.00% 0.00%
[shares]
15,12,880
0.15% 0.15% 0.06% 0.06%
period
Optrex Finexim Private
Name of shareholder Y. Jithin Kumar (HUF)
Limited
0.00% 0.00%
during year
[shares]
15,12,880
0.00% 0.00%
[shares]
15,12,880
0.15% 0.15% 0.06% 0.06%
period
18

[Member] [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
[shares]
Total number of shares held at end of period [shares] 15,12,880
15,12,880
[shares] 5,98,170 [shares] 5,98,170
[shares]
15,12,880
[shares] 5,98,170 [shares] 5,98,170
0.00% 0.00%
[shares]
15,12,880
[shares] 5,98,170 [shares] 5,98,170

0.06% 0.06% 0.03% 0.03%
period
Optrex Finexim Private
Name of shareholder Limited
Y. Uma Rani

0.00% 0.00%
during year
[shares]
15,12,880
[shares] 5,98,170 [shares] 5,98,170
0.00% 0.00%
[shares]
15,12,880
[shares] 5,98,170 [shares] 5,98,170

0.06% 0.06% 0.03% 0.03%
period
19

[Member] [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
0.00% 0.00%
0.03% 0.03% 0.01% 0.01%
period
Name of shareholder Y. Uma Rani Punjab National Bank
0.00% 0.00%
during year
0.00% 0.00%
0.03% 0.03% 0.01% 0.01%
period
20

[Member] [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
[shares]
Total number of shares held at end of period [shares] 3,40,000 [shares] 3,40,000 [shares] 99,200
99,200
[shares]
99,200
0.00% 0.00%
[shares]
99,200
0.01% 0.01% 0.00% 0.00%
period
Power Max India Private
Name of shareholder Punjab National Bank
Limited
0.00% 0.00%
during year
[shares]
99,200
0.00% 0.00%
[shares]
99,200
0.01% 0.01% 0.00% 0.00%
period
21

[Member] [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
[shares]
Total number of shares held at end of period [shares] 99,200
99,200
[shares] 59,440 [shares] 59,440
[shares]
99,200
[shares] 59,440 [shares] 59,440
0.00% 0.00%
[shares]
99,200
[shares] 59,440 [shares] 59,440

0.00% 0.00% 0.00% 0.00%
period
Monika Bose

0.00% 0.00%
during year
[shares]
99,200
[shares] 59,440 [shares] 59,440
0.00% 0.00%
[shares]
99,200
[shares] 59,440 [shares] 59,440

0.00% 0.00% 0.00% 0.00%
period
22

[Member] [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
[shares]
Total number of shares held at end of period [shares] 59,440 [shares] 59,440 [shares] 32,000
32,000
[shares]
32,000
0.00% 0.00%
[shares]
32,000
0.00% 0.00% 0.00% 0.00%
period
Paramount Sinters Private
Name of shareholder Monika Bose
Limited
0.00% 0.00%
during year
[shares]
32,000
0.00% 0.00%
[shares]
32,000
0.00% 0.00% 0.00% 0.00%
period
23

[Member] [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
[shares]
32,000
[shares] 1,200 [shares] 1,200
[shares]
32,000
0.00% 0.00%
[shares]
32,000

0.00% 0.00% 0.00% 0.00%
period
Mala Gupta

0.00% 0.00%
during year
[shares]
32,000
0.00% 0.00%
[shares]
32,000

0.00% 0.00% 0.00% 0.00%
period
24

[Member] [Member]
01/04/2016 01/04/2016
to 31/03/2016 to 31/03/2016
31/03/2017 31/03/2017
0.00% 0.00%
0.00% 0.00% 0.00% 0.00%
period
Name of shareholder Mala Gupta S.K. Gupta
0.00% 0.00%
during year
0.00% 0.00%
0.00% 0.00% 0.00% 0.00%
period

Name of top 10 shareholder [Axis] Top 10 shareholder [Member]
Cumulative shareholding during year
[Member]
01/04/2016
to 31/03/2016
31/03/2017
Total number of shares held at end of period [shares] 1,200 [shares] 1,200
Percentage increase decrease in shareholding during year 0.00%
Details of shareholding pattern of top 10 shareholders [Abstract]
Details of shareholding pattern of top 10 shareholders [LineItems]
Name of shareholder S.K. Gupta
25

01/04/2016
to 31/03/2016
31/03/2017
Textual information (3)
Disclosure in board of directors report explanatory [TextBlock] [See below]
Description of state of companies affair As per Director's report
The Board does not propose
any amount to be
Disclosure relating to amounts if any which is proposed to carry to any
transferred to reserves
reserves for the financial year
ended March 31, 2017.
The Board does not
recommend dividend for
Disclosures relating to amount recommended to be paid as dividend the financial year ended
March 31, 2017.
Details regarding energy conservation As per below
Steps taken or impact on conservation of energy [Text block] [See below]
Steps taken by the company for utilising alternate sources of energy Textual information (5)
[Text block] [See below]
Details regarding technology absorption As per below
Efforts made towards technology absorption [Text block] [See below]
Details regarding foreign exchange earnings and outgo [See below]
Disclosures in director’s responsibility statement As per Director's report
There have been no
material changes and
commitments occurred,
affecting the financial
Details of material changes and commitment occurred during period
position of the company,
affecting financial position of company between the end of the
financial year of the
company and the date of
this report.
Particulars of loans guarantee investment under section 186 [TextBlock] [See below]
Particulars of contracts/arrangements with related parties under section Textual information (9)
188(1) [TextBlock] [See below]
Details of contracts/arrangements/transactions not at arm's length
basis [Abstract]
Whether there are contracts/arrangements/transactions not at arm's
No
length basis
Details of material contracts/arrangements/transactions at arm's
length basis [Abstract]
Whether there are material contracts/arrangements/transactions at
No
arm's length basis
Details of statement indicating manner in which formal
annual evaluation made by board of its performance and of its [See below]
committees and individual directors [TextBlock]
Date of board of directors' meeting in which board's report referred
30/08/2017
to under section 134 was approved
Disclosure of extract of annual return as provided under section 92(3) Textual information (11)
[TextBlock] [See below]
Details of principal business activities contributing 10% or more
of total turnover of company [Abstract]
Particulars of holding, subsidiary and associate companies [Abstract]
Number of demat shares held at end of period [shares] 163,51,34,773 [shares] 163,51,34,773
Number of physical shares held end of period [shares] 73,89,54,377 [shares] 73,89,54,377
Total number of shares held at end of period [shares] 237,40,89,150 [shares] 237,40,89,150
Details of shareholding of promoters [Abstract]
Details of change in promoters shareholding [TextBlock] No Change
Details of change in promoters’ shareholding [Abstract]

26

Details of shareholding pattern of top 10 shareholders [Abstract]
Details of shareholding pattern of directors and key managerial
As per MGT-9
personnel [TextBlock]
Details of shareholding pattern of directors and key managerial
personnel [Abstract]
Addition in indebtedness 19,40,909.32
Reduction in indebtedness 11,29,371.43
Total changes in indebtedness 8,11,537.89
Principal amount at end of financial year 1,07,33,328.89 99,21,791
Interest due but not paid at end of financial year 0 0
Interest accrued but not due at end of financial year 72,064.79 78,005.22
Total indebtedness at end of financial year 1,08,05,393.68 99,99,796.22
The Company is
a private limited company
hence there is no
Disclosure of statement on declaration given by independent directors requirement of having
under section 149(6) [TextBlock] independent director and
consequently there is no
such statement
obtained.
The Company is
Disclosure for companies covered under section 178(1) on a private limited company
hence section 178 of the
directors appointment and remuneration including other matters Companies Act, 2013
provided under section 178(3) [TextBlock] doesn't
apply.
Details regarding auditors' qualification(s), reservation(s) adverse

remark(s) in auditors' report [Abstract]
Disclosure of statement on development and implementation of risk Textual information (12)
management policy [TextBlock] [See below]
Details on policy development and implementation by company on
corporate social responsibility initiatives taken during year [See below]
[TextBlock]
Disclosure as per rule 8(5) of companies accounts rules 2014 [TextBlock]
Disclosure of financial summary or highlights [TextBlock] [See below]
There has been

no changes in the nature
Disclosure of change in nature of business [TextBlock] of business for the period
under review.
Details of directors or key managerial personnels who were Textual information (15)
appointed or have resigned during year [TextBlock] [See below]
Disclosure of companies which have become or ceased to be its
subsidiaries, joint ventures or associate companies during [See below]
year [TextBlock]
Details relating to deposits covered under chapter v of companies act Textual information (17)
Details of deposits which are not in compliance with requirements

-
of chapter v of act [TextBlock]
Details of significant and material orders passed by
regulators or courts or tribunals impacting going concern [See below]
status and company’s operations in future [TextBlock]
Details regarding adequacy of internal financial controls with Textual information (19)
reference to financial statements [TextBlock] [See below]
Disclosure of appointment and remuneration of director or

-
managerial personnel if any, in the financial year [TextBlock]
Details of remuneration of director or managerial personnel [Abstract]
27
Statement showing details of employees of company under

rule 5(2) and (3) of companies appointment and Textual information (20)
remuneration of managerial personnels rules 2014 [See below]
[TextBlock]
Top ten employed throughout the financial year was in As per Annexure-3 of
receipt of remuneration in aggregate for that year not Director's report
less than one crore and two lakh rupees [Text block]
Top ten employed throughout the financial year was in

receipt of remuneration in aggregate for that year not
less than one crore and two lakh rupees [Abstract]
Top ten employed for a part of financial year, at the rate
in aggregate was not less than eight lakh and fifty
thousand rupees per month [TextBlock]
Top ten employed for a part of financial year, at the
rate in aggregate was not less than eight lakh and fifty
thousand rupees per month [Abstract]
Top ten employed throughout the
financial year of a part was in
receipt of aggregate
remuneration in excess of
managing director or wholetime
director or manager and holds by
himself along with spouse and
children not less than two percent
of equity shares of company [
TextBlock]
Top ten employed throughout the
financial year of a part was in
receipt of aggregate
remuneration in excess of
managing director or wholetime
director or manager and holds
by himself along with spouse and
children not less than two
percent of equity shares of
company [Abstract]
Disclosure of details of establishment of vigil mechanism [TextBlock] [See below]
Number of meetings of board 7
Details of signatories of board report [Abstract]
Name of director signing board report [Abstract]
Auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report

Note 42 to the Financial Statements regarding certain payments made through a non-executive director of the Company during the year
aggregating to Rs. 9,240(000). In the absence of sufficient and appropriate audit evidence we are unable to comment on whether such payments or
expenses are personal in nature or incurred by the Company in the ordinary course of its business activities.
Directors' comment on auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report

As per the arrangement the company is reimbursing the expenses towards professional charges, employee cost and office expenses incurred at the
office, being the erstwhile registered office, which was subsequently shifted. However, the payments have been stopped from January 2017.
28
Disclosure in board of directors report explanatory [Text Block]

Dear Members,
On behalf of the Board of Directors (the "Board"), it gives great pleasure to present the twenty fourth Board's Report of your Company. Annexed
to this reportis the Balance Sheet, Statement of Profit and Loss and Cash Flow statement, for the financial year ended March 31, 2017.
FINANCIAL PERFORMANCE:
The Summary of financial performance of your Company for the financial year commencing from April 1, 2016 and ending as on March 31, 2017
is hereunder: (INR Thousands.)
Particulars For the year ended
March 31, 2017 March 31, 2016
Total Income 1,05,51,839 1,02,36,993
Expenditure 1,12,07,580 1,11,77,129
Profit / (Loss) Before Taxation (6,55,741) (9,40,136)
Profit / (Loss) After Taxation (6,55,741) (9,40,136)
Profit / (Loss) carried to Balance Sheet (6,55,741) (9,40,136)
OPERATIONS - STATEMENT OF COMPANY AFFAIRS:
The Company during the year achieved a sales volume of 2,13,574 tons of Bars as compared to 1,96,500 tons in previous year. With the increased
production and sales,your company was able to improve the market share During the year your company added new customers like Exedy India,
Somic ZF, SonaKoya, Rolex Rings, Rane (Madras), Dhar Automotive, Deccan Fasteners and GNA Gears to name few. Along with that, the
company also developed different grades specific to customer requirements. The company will continue the process of getting new customer
approvals and also develop grades to specific customer requirements for both existing and new customers.
In the previous financial years the company had planned to install PCI (Pulverized Coal Injection) plant and VPSA (Vacuum Pressure Swing
Absorption) plant which will help to reduce the cost of production and during the year your Company made substantial progress in setting up both
the plants. During the year VPSA (Vacuum Pressure Swing Absorption) plant was commissioned and PCI (Pulverized Coal Injection) plant was
in final stage of completion.
The performance of the company improved substantially compared to the previous financial year and the loss for the financial year reduced by
30% to Rs. 65,57,41 ('000) compared to previous financial year. The generation of positive operating cash flow was INR 33,96,46 ('000) compare
to the previous year's positive operating cash flow of INR 16,42,746('000).With the current improving performance and supported by the market
trend your Company is expected to generate positive cash flow in the coming years.
DIVIDEND:
The Board does not recommend dividend for the financial year ended March 31, 2017.
29
TRANSFER TO RESERVES:
The Board does not propose any amount to be transferred to reserves for the financial year ended March 31, 2017.
SHARE CAPITAL:
The Authorized Share Capital of the Company is INR 30,00,00,00,000/- (Rupees Three Thousand Crores only) divided into 2,90,00,00,000 (Two
Hundred and Ninety Crores only) Equity Shares of INR 10/- (Rupees Ten only) each and 10,00,00,000 (Ten Crores only) Preference Shares of
INR 10/- (Rupees Ten only) each.
The Paid-up Share Capital of the Company as on March 31, 2017 is INR 23,92,28,25,890/- (Rupees Two Thousand Three Hundred & Ninety
Two Crores Twenty Eight Lakhs Twenty Five Thousand Eight Hundred & Ninety only) divided into 2,37,40,89,150 (Two Hundred and Thirty
Seven Crores Forty Lakhs Eighty Nine Thousand One Hundred and Fifty only) Equity Shares of INR 10/- (Rupees Ten only) each and
1,81,93,439 (One Crore Eighty One Lakhs Ninety Three Thousand and Four Hundred and Thirty Nine only) Preference Shares of INR 10/-
(Rupees Ten only) each.
MATERIAL CHANGES AFFECTING THE FINANCIAL POSITION OF THE COMPANY:
There have been no material changes and commitments occurred, affecting the financial position of the company, between the end of the financial
year of the company and the date of this report.
CHANGE IN THE NATURE OF BUSINESS, IF ANY:
There has been no changes in the nature of business for the period under review.
BOARD MEETINGS, BOARD OF DIRECTORS, KEY MANAGERIAL PERSONNEL & COMMITTEES OF DIRECTORS:
Board Meetings -
The Board met seven times during the financial year 2016 - 2017 on the following dates -
1. April 11, 2016

2. June 14, 2016
3. July 29, 2016
4. August 25, 2016
5. September 26, 2016
6. November 14, 2016
7. February 17, 2017
Further the details of the meetings of the Directors are attached as Annexure 4.
Directors and Key Managerial Personnel (KMP) -
The following members were appointed as the Directors and KMP of the company-
1. Mr. Satyanarayan Mohanty was appointed as a Company Secretary with effect from August 25, 2016.
2. Mr. Jose Fernando Vedana who was appointed as an Whole - time Director with effect from October 28, 2014 was re-designated as Non -
Executive Director with effect from June 16, 2016.
Note: The earlier Company Secretary resigned with effect from December 22, 2015 and the Company filled the vacancy by appointing Mr.
30
Satyanarayan Mohanty as the whole time Company Secretary with effect from August 25, 2016.
Resignation, Cessations and Changes in Directors and Key Managerial Personnel -
Mr. Jose Antonio Jainaga Gomez (Director) resigned with effect from June 16, 2016.The Board places on record their appreciation to Mr. Jose
Antonio Jainaga Gomez and wish him the very best in his future endeavors.
The composition of the Board and Key Managerial Personnel as on date of this report is as below -
Sl. No Name of the person Designation
1. Mr. Sridhar Krishnamoorthy Managing Director & KMP
2. Mr. Ramaswamy Visweswaran Whole - time Director & KMP
3. Mr. Jose Fernando Vedana Non - Executive Director
4. Mr. YalamanchiliJithin Kumar Non - Executive Director
5. Mr. YalamanchiliJanardhana Rao Non - Executive Director
6. Mr. Sham Krishna Chief Financial Officer & KMP
7. Mr. Satyanarayan Mohanty Company Secretary & KMP
Statement on declaration given by Independent Director under sub - section (6) of section 149 -
The Company is a private limited company hence there is no requirement of having independent director and consequently there is no such
statement obtained.
Vigil Mechanism / Whistle Blower Policy -
In terms of the provisions of sub - section (10) of section 177 of the Companies Act, 2013 and Rule 7 of the Companies (Meeting of Board and its
Powers) Rules, 2014, the Vigil Mechanism of the Company, which also incorporates a whistle blower policy, includes code of Ethics. Protected
disclosures can be made by a whistle blower through an e-mail, or telephone line.
Board Committees -
CSR Committee -
The Company has constituted a CSR Committee. Currently the Committee is comprised of Mr. Sridhar Krishnamoorthy, Mr. Jose Fernando
Vedana and Mr. Ramaswamy Visweswaran. The CSR Committee was re-constituted on June 16, 2016. Your Company has a Corporate Social
Responsibility Policy (CSR Policy) indicating the activities to be undertaken by the Company, which has been approved by the Board. The
company has incurred loss during the three immediately preceding financial years and as per sub - section 5 of section 135 of the Companies Act,
2013 and Rules made there under, the Company does not have to spend 2% of the average net profits made during the three immediately
preceding financial years. Keeping its commitment, your Company during the year continued its CSR spend in accordance with its CSR Policy
towards improving the infrastructures in schools, distribution of study kits to students, constructing room for patients at Public Health Centres
(PHC) - Tadipatri, providing and maintain RO drinking water facility, tree plantation, maintenance of link road of Jambulapadu Village, skill
development for ITI &diploma candidates and donation to some organizations working for the betterment of the society.
31
The Company has spent around INR 83.00 lakhs for the above activities.
COMPANY'S POLICY ON DIRECTOR'S APPOINTMENT AND REMUNERATION:
The Company is a private limited company hence section 178 of the Companies Act, 2013 doesn't apply.
IMPLEMENTATION OF RISK MANAGEMENT POLICY:
In terms of the provisions of clause (n) of sub - section (3) of section 134 of the Companies Act, 2013, the Company has a policy to identify,
evaluate business risks and opportunities. The Company has in place a mechanism to identify, assess, monitor and mitigate various risks to key
business objectives. Major risks identified by the businesses and functions are systematically addressed through mitigating actions on a
continuing basis. This framework seeks to create transparency, minimize adverse impact on the business objectives and enhance the Company's
competitive advantage. These are discussed at various department level meetings of the Company. The Company has identified various risks and
also has mitigation plans for each risk identified.
INTERNAL CONTROL SYSTEMS AND ADEQUACY OF INTERNAL FINANCIAL CONTROLS:
In terms of the provisions of section 134 of the Companies Act, 2013 and Rule 8 of the Companies (Accounts) Rules, 2014, the Company has a
proper and adequate system of internal controls. This ensures that all transactions are authorized, recorded and reported correctly, and assets are
safeguarded and protected against loss from unauthorized use or disposition. In addition, there are operational controls and fraud risk controls,
covering the entire spectrum of internal financial controls. The Company has in place adequate internal financial controls with reference to
financial statements. During the year, such controls were tested and no reportable material weakness in the design or operation was observed
except where existing controls over capitalization of tangible and intangible assets is to be strengthened/improved. However the Company has
made improvements in this regard and corrected the control weakness as on March 31, 2017. The Company's internal control systems are
commensurate with the nature of its business and the size and complexity of its operations. These are routinely tested by internal auditors and
audit observations and follow up actions thereon are reported to the Management/Board.
BOARD EVALUATION:
In terms of the provisions of clause (p) of sub - section (3) of section 134 of the Companies Act, 2013 and Rule 8 of Companies (Accounts) Rules,
2014, the formal annual evaluation for assessing the performance of the Board and of its committees and individual directors is not applicable to
the company as it is a private limited company.
SUBSIDIARY COMPANIES:
The company has no subsidiary company as on the end of the financial year March 31, 2017. Further there were no subsidiary companies which
have become or ceased to be its subsidiaries, joint ventures or associate companies during the year under review.
DEPOSITS:
In terms of the provisions of Sections 73 of the Companies Act, 2013 read with the relevant rules of the Act, the Company has not accepted any
deposits during the year under review and as such, no amount of principal or interest was outstanding as on March 31, 2017.
RELATED PARTY TRANSACTIONS:
There have been no materially significant related party transactions between the Company and the Directors, the management, the subsidiaries or
the relatives except for those disclosed in the financial statements. Accordingly, particulars of contracts or arrangements with related parties
referred to in Section 188(1) along with the justification for entering into such contract or arrangement in Form AOC-2 does not form part of the
report.
EXTRACTS OF THE ANNUAL RETURN:
The extract of Annual Return of your company as on March 31, 2017 as provided under clause (a) of sub - section (3) of section 134 and
sub-section (3) of Section 92 of Companies Act, 2013 and Rule 12 of Companies (Management and Administration) Rules, 2014 has been given
in the prescribed Form MGT-9 as Annexure 1.
32
DIRECTORS' RESPONSIBILITY STATEMENT:
In compliance with clause (c) of sub - section (3) of section 134 and sub - section (5) of section 134 of the Companies Act, 2013, your Directors
confirm and state as follows:
(a) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to
material departures;
(b) the Directors have selected such accounting policies and have applied them consistently and made judgments and estimates that are reasonable
and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit and loss of the
Company for the period under review;
(c) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of
the Companies Act, 2013, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;
(d) the Directors have prepared the annual accounts on a going concern basis; and
(e) the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such system were adequate
and operating effectively.
PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS MADE BY THE COMPANY:
The details of the investments made by the Company are in Note No. 06 of the audited financial statements. During the year, the Company has
not made any loans to any persons within the meaning of Section 186 and has also not given any guarantees within the meaning of that section.
PARTICULARS REGARDING CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE

EARNINGS AND OUTGO:
The particulars as prescribed under clause (m) of sub - section (3) of section 134 of the Companies Act, 2013 read with Rule 8 of the Companies
(Accounts) Rules, 2014, are set out in Annexure 2.
DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS:
There are no significant material orders passed by the Regulators or Courts or Tribunal which would impact the going concern status of the
Company and its future operations. However, members' attention is drawn to the statement on contingent liabilities, commitments in the notes
forming part of the financial statements. Separately the Company had suo-motu made applications with the Central Government for appointment
and remuneration of directors paid during the financial years 2009-2010 to 2011-2012 and 2015-2016. However, the same were rejected by the
Central Government. Further the Company decided to recover the amount paid as remuneration from the directors and has taken necessary actions
for the same. The Company could recover the remuneration paid to Mr. Vilmar Rudolf Babotand Mr. Ramaswamy Visweswaran. The Company
is taking necessary actions to recover the amount paid as remuneration to Mr. Arvind Swarup Mathur and Mr. Renan De Castro Alves Pinto.
AUDITORS AND AUDITORS REPORT:
Statutory Auditors -
M/s Ananth Shravan & Co, Chartered Accountants, Statutory Auditors of the Company, hold office till the conclusion of the ensuing Annual
General Meeting who have audited the accounts for the financial year 2016-2017.
Secretarial Auditor -
The Company being a private limited company is not subject to Secretarial Audit under section 204 of the Companies Act, 2013.
33
MANAGEMENT RESPONSE TO THE QUALIFICATIONS:
The Management of the Company provides the following response in compliance with clause (f) of sub - section (3) of section 134 of the
Companies Act, 2013 to the adverse remark/qualification made by the auditors in their reports respectively:
Qualification in the Statutory Auditor's Report -
Para 7 of the report of the Independent Auditors: As per the arrangement the company is reimbursing the expenses towards professional charges,
employee cost and office expenses incurred at the office, being the erstwhile registered office, which was subsequently shifted. However, the
payments have been stopped from January 2017.
PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES:
In terms of Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, a statement showing the
names and other particulars of the employees drawing remuneration in excess of the limits set out in the said rules are set out in Annexure 3.
DISCLOSURE AS REQUIRED UNDER SECTION 22 OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,

PROHIBITION AND REDRESSAL) ACT, 2013:
Gerdau as an organization is committed to provide a healthy environment to all its employees and thus does not allowany discrimination and/or
harassment in any form. The Company has in place a Prevention of Sexual Harassment (POSH) policy in line with the requirements of the Sexual
Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. Frequent communication of this policy is done in
assimilation programs and at regular intervals to its employees. Following are some of the awareness programs imparted to train the employees
and Internal Complaints Committee (ICC).
1. Every employee is supposed to undergo mandatory e-learning module on "Prevention of Sexual Harassment" at workplace.
2. Policy of "Prevention of Sexual Harassment" at workplace is available on intranet for employee to access as and when required.
The Company has setup an Internal Complaints Committee (ICC). ICC has equal representation of men and women and is chaired by senior lady
employee and has an external women representation. During the year under review, there were no complaints pertaining to sexual harassment.
ACKNOWLEDGEMENT:
Your Directors acknowledge the support and co-operation received from business partners and investors. The Directors are proud and thankful to
each and every employee, each of whom has contributed in the growth of the Company. The support received from the Government of India was
valuable and is thankfully acknowledged. We thank all our stakeholders for the confidence reposed on us and for the support they have given in
building the success of the Company.
For and on behalf of the Board of Directors
Sridhar Krishnamoorthy Ramaswamy Visweswaran
Managing Director Whole - time Director
DIN: 06738209 DIN: 07268366
Date: August 30, 2017
Place: Bengaluru
34
ANNEXURE 2
DISCLOSURE RELATING TO CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS

AND OUTGO AS PER SUB RULE 8(3) OF THE COMPANIES (ACCOUNTS) RULES 2014
(A) Conservation of energy-
(i) the steps taken or impact on conservation of energy;
- Power Generation increased through the Coke Oven Waste Heat Recovery Based 15 MW Captive Power Plant.
- Auxilary Power Consumption of 15 MW Captive Power Plant came down to 7.93% after installing Variable Frequency Drive (VFD) in Boiler
Feed Pump (BFP) and Air-Cooled Condenser (ACC) motors in the month of Dec'16 and usage of Nitrogen in place of compressed air.
- 83% of total plant power requirement catered through in-house power generation - utilizing the Coke Oven Waste Heat and Blast Furnace Gas
(BFG)
- Blast Furnace Hot Blast Temperature increased by successful implementation of oxygen enrichment in the Stoves of Blast Furnace.
- Considerable reduction in Plant Specific Overall Power Rate through implementation of Variable Frequency Drive (VFD) in power intensive
motors i.e. Blower Motors, BOF ID Fan Motor, Sinter Plant ID Fan Motor, Boiler Feed Pump Motors and ACC Fan Motor.\
(ii) the steps taken by the company for utilizing alternate sources of energy;
- No further steps taken for utilizing alternate source of energy
(iii) the capital investment on energy conservation equipment's;
- Implementation of Variable Frequency Drives (VFD) in power intensive motors
- Installation and commissioning of Oxygen Enrichment Project (Auxiliaries of VPSA Oxygen Plant) for Blast Furnace
- Installation and commissioning of Pulverized Coal Injection (PCI) Project for Blast Furnace
(B) Technology absorption-
(i) the efforts made towards technology absorption;
(ii) the benefits derived like product improvement, cost reduction, product development or import substitution;
(iii) in case of imported technology (imported during the last three years reckoned from the beginning of the financial year)-
(a) the details of technology imported;
(b) the year of import;
(c) whether the technology been fully absorbed;
35
(d) if not fully absorbed, areas where absorption has not taken place, and the reasons thereof; and
(iv) the expenditure incurred on Research and Development.
------ NIL ------
(C) Foreign exchange earnings and Outgo
The Foreign Exchange earned in terms of actual inflows during the year and the Foreign Exchange outgo during the year in terms of actual
outflows.
(INR)
Foreign Outgo 301,51,76,000
Foreign Earnings 28,64,49,667
DIN: 06738209 DIN: 07268366
Place: Bengaluru
ANNEXURE 3
DISCLOSURE RELATING TO REMUNERATION OF EMPLOYEES AS PER SUB RULE 5(2) OF THE COMPANIES (APPOINTMENT
AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES 2014
(A) Top ten employees in terms of remuneration -
Whether
Percentage Relative
Gross
Sl. Nature of Educational Experience Date of Last of Equity of any
Name of The Employee Designation Remuneration Age
No. Employment Qualification (Yrs) Joining Employment Shares Director
(Rs)
Held or
Manager
Abu Dhabi
11-Nov-13
Managing B E, M E, Basic
1. Sridhar Krishnamoorthy 2,80,83,496 Permanent 31 55 0.00% NA
Director MBA Industries
Corporations
36
2. RamaswamyVisweswaran Whole - time 81,54,939 Permanent BE 31 15-Dec-06 54 Sunflag Iron NA NA

Director & Steel
26-Sep-12
Vice President Hindalco
3. Deepak Kumar Singh 63,27,727 Permanent BE 28 52 NA NA
- RM & IL Indutries
Vice President
4. Edwin Francis 63,05,592 Permanent MSW 30 2-Jul-14 54 ABB Ltd NA NA
- HR
Industrial Kalyani
5. D. Jaya Prakash 61,99,044 Permanent BE 21 1-Jan-11 44 NA NA
Director Carpenter
Schenck
Chief Financial
6. Sham Krishna 56,11,294 Permanent CA 23 10-Feb-14 45 Process NA NA
Officer
India Ltd
Vice Sunflag Iron

7. AvinashPansi 40,41,838 Permanent BE 30 28-Dec-13 56 NA NA
President-QA & Steel
General Henkel AG
8. Anand Mangalam 35,94,723 Permanent MBA, PMP 23 21-May-12 45 NA NA
Manager-IT & Co
General
9. Suresh Kumar Kajani Manager - 31,97,211 Permanent B. Tech 30 04-Feb-13 53 R L Steel NA NA
Sales
Vice Usha Martin

10. T.S.S. Sundaram 30,41,989 Permanent BE 30 12-Apr-08 53 NA NA
President-CMD Ltd
(B) Employees employed throughout the financial year and was in receipt of remuneration for that year which, in the aggregate, was not less than
one crore two lakh rupees-
Percentage Whether
Gross
Sl. Name of the Nature of Educational Experience Date of Last of Equity Relative of
Designation Remuneration Age
No. Employee Employment Qualification (Yrs) Joining Employment Shares any Director
(Rs)
Held or Manager
Abu Dhabi
11-Nov-13
Sridhar Managing B E, M E, Basic
1. 2,80,83,496 Permanent 30 55 0.00% NA
Krishnamoorthy Director MBA Industries
Corporations
(C) if employed for a part of the financial year, was in receipt of remuneration for any part of that year, at a rate which, in the aggregate, was not
less than eight lakhs and fifty thousand rupees per month -
Gross Date Percentage Whether Relative

Sl. Name of the Nature of Educational Experience Last
Designation Remuneration of Age of Equity of any Director or
No. Employee Employment Qualification (Yrs) Employment
(Rs) Joining Shares Held Manager
Not
Applicable
37
DIN: 06738209 DIN: 07268366
Place: Bengaluru
ANNEXURE 4
DETAILS OF MEETINGS OF THE DIRECTORS
Name of the
Date
Director
Jose
Sridhar Ramaswamy Jose Antonio YalamanchiliJithin YalamanchiliJanardhana
Fernando
Krishnamoorthy Visweswaran Jainaga Gomez Kumar Rao
Vedana
Board Meeting
April 11, 2016 Yes No Yes No No No
June 14, 2016 No Yes Yes No No No
July 29, 2016 Yes No Yes NA No No
August 25, 2016 Yes No Yes NA No No
September 26, 2016 Yes No Yes NA No No
November 14, 2016 No No Yes NA Yes Yes
February 17, 2017 Yes No Yes NA No No
Corporate Social
Responsibility Committee
Meeting
July 29, 2016 Yes No Yes NA NA NA
38
DIN: 06738209 DIN: 07268366
Place: Bengaluru
Steps taken or impact on conservation of energy [Text block]

- Power Generation increased through the Coke Oven Waste Heat Recovery Based 15 MW Captive Power Plant.
- Auxilary Power Consumption of 15 MW Captive Power Plant came down to 7.93% after installing Variable Frequency Drive (VFD) in Boiler
Feed Pump (BFP) and Air-Cooled Condenser (ACC) motors in the month of Dec'16 and usage of Nitrogen in place of compressed air.
- 83% of total plant power requirement catered through in-house power generation - utilizing the Coke Oven Waste Heat and Blast Furnace Gas
(BFG)
- Blast Furnace Hot Blast Temperature increased by successful implementation of oxygen enrichment in the Stoves of Blast Furnace.
- Considerable reduction in Plant Specific Overall Power Rate through implementation of Variable Frequency Drive (VFD) in power intensive
motors i.e. Blower Motors, BOF ID Fan Motor, Sinter Plant ID Fan Motor, Boiler Feed Pump Motors and ACC Fan Motor.
Steps taken by the company for utilising alternate sources of energy [Text block]
i ) the steps taken by the company for utilizing alternate sources of energy;
- No further steps taken for utilizing alternate source of energy
ii ) the capital investment on energy conservation equipment's;
- Implementation of Variable Frequency Drives (VFD) in power intensive motors
- Installation and commissioning of Oxygen Enrichment Project (Auxiliaries of VPSA Oxygen Plant) for Blast Furnace
- Installation and commissioning of Pulverized Coal Injection (PCI) Project for Blast Furnace
39
Efforts made towards technology absorption [Text block]

(i) the efforts made towards technology absorption;
(ii) the benefits derived like product improvement, cost reduction, product development or import substitution;
(iii) in case of imported technology (imported during the last three years reckoned from the beginning of the financial year)-
(a) the details of technology imported;
(b) the year of import;
(c) whether the technology been fully absorbed;
(d) if not fully absorbed, areas where absorption has not taken place, and the reasons thereof; and
(iv) the expenditure incurred on Research and Development.
------ NIL ------
Details regarding foreign exchange earnings and outgo

The Foreign Exchange earned in terms of actual inflows during the year and the Foreign Exchange outgo during the year in terms of actual
outflows. Foreign Outgo (Rs. 301,51,76,000) & Foreign Earnings ( 28,64,49,667)
Particulars of loans guarantee investment under section 186 [Text Block]

The details of the investments made by the Company are in Note No. 06 of the audited financial statements. During the year, the Company has
not made any loans to any persons within the meaning of Section 186 and has also not given any guarantees within the meaning of that section.
Particulars of contracts/arrangements with related parties under section 188(1) [Text Block]
There have been no materially significant related party transactions between the Company and the Directors, the management, the subsidiaries or
the relatives except for those disclosed in the financial statements. Accordingly, particulars of contracts or arrangements with related parties
referred to in Section 188(1) along with the justification for entering into such contract or arrangement in Form AOC-2 does not form part of the
report.
40
Details of statement indicating manner in which formal annual evaluation made by board of its performance and of
its committees and individual directors [Text Block]
In terms of the provisions of clause (p) of sub - section (3) of section 134 of the Companies Act, 2013 and Rule 8 of Companies (Accounts) Rules,
2014, the formal annual evaluation for assessing the performance of the Board and of its committees and individual directors is not applicable to
the company as it is a private limited company.
41
Disclosure of extract of annual return as provided under section 92(3) [Text Block]
ANNEXURE - 1
FORM NO. MGT - 9

EXTRACTS OF ANNUAL RETURN AS ON FINANCIAL YEAR ENDED MARCH 31, 2017
[Pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and Administration) Rules, 2014]
I. Registration and Other Details:
i) CIN U27109AP1993PTC015499
ii) Registration Date March 16, 1993
iii) Name of the Company Gerdau Steel India Private Limited
iv) Category / Sub category of the Company Company limited by shares
Village Jambulapadu, Tadipatri Mandal, Ananthpur, Andhra Pradesh -

v) Address of the Registered Office and contact details
515411
vi) Whether listed company Yes / No
Karvy Computershare Private Limited

Karvy Selenium Tower B
Plot 31-32, Gachibowli, Financial District
Name, Address and Contact details of Registrar and Transfer
vii) Nanakramguda, Hyderabad - 500 032
Agent, if any
Tel: +91 40 67161700
Toll Free No: 1800 425 8998
Fax: +91 40 23114087
II. Principal Business Activities of the Company:
The business activities contributing 10% or more of the total turnover of the Company are as under:
Sl. No. Name and Description of main products/ Services NIC code of the product / services Percentage of contribution to total turnover (%)
1. Pig Iron 27130 6%
2. Billets 27141 6%
3. Bars 27151 88%
III. Particulars of Holding, Subsidiary and Associate Companies:
42
Sl. No Name and Address of the Company CIN/GLN Holding/ Subsidiary or Associates Percentage of share held Applicable Section
Gerdau Holdings Europa S.A. Y CIA, S R C

1. NA Holding Company 98.90% 2(46)
CL Barrio Ugrate S/N 48970, Basauri, Spain
IV. Share holding Pattern (Equity share capital Breakup as percentage of Total Equity)
i) Category - wise share holding
%
No. of shares held No. of shares change
Categories of share holders at the beginning held at the end during
of the year of the year the
year
% of % of
Demat Physical Total total Demat Physical Total total
shares shares
A. Promoters
(1) Indian
a) Individual/HUF -- -- -- -- -- -- -- -- --
b) Central Govt -- -- -- -- -- -- -- -- --
c) State Govt (s) -- -- -- -- -- -- -- -- --
d) Bodies Corp. -- -- -- -- -- -- -- -- --
e) Banks / FI -- -- -- -- -- -- -- -- --
f) Any Other -- -- -- -- -- -- -- -- --
Sub-total (A) (1) -- -- -- -- -- -- -- -- --
(2) Foreign
a) NRIs - Individuals -- -- -- -- -- -- -- -- --
b) Other - Individuals -- -- -- -- -- -- -- -- --
c) Bodies Corp. 1609167117 738760128 2347927245 98.9% 1609167117 738760128 2347927245 98.9% --
d) Banks / FI -- -- -- -- -- -- -- -- --
43
e) Any Other -- -- -- -- -- -- -- -- --
Sub-total (A) (2) 1609167117 738760128 2347927245 98.9% 1609167117 738760128 2347927245 98.9% --
Total shareholding of Promoter (A)

1609167117 738760128 2347927245 98.9% 1609167117 738760128 2347927245 98.9% --
= (A)(1)+(A)(2)
B. Public Shareholding
1. Institutions
a) Mutual Funds -- -- -- -- -- -- -- -- --
b) Banks / FI 340000 -- 340000 0.01% 340000 -- 340000 0.01% --
c) Central Govt -- -- -- -- -- -- -- -- --
d) State Govt(s) -- -- -- -- -- -- -- -- --
e) Venture Capital Funds -- -- -- -- -- -- -- -- --
f) Insurance Companies -- -- -- -- -- -- -- -- --
g) FIIs -- -- -- -- -- -- -- -- --
h) Foreign Venture Capital Funds -- -- -- -- -- -- -- -- --
i) Others (specify) Trust 20000000 -- 20000000 0.84% 20000000 -- 20000000 0.84% --
Sub-total (B)(1) 20340000 -- 20340000 0.85% 20340000 -- 20340000 0.85% --
2. Non-Institutions
a) Bodies Corp.
i) Indian 1512880 131200 1644080 0.07% 1512880 131200 1644080 0.07% --
ii) Overseas -- -- -- -- -- -- -- --
b) Individuals
i) Individual shareholders holding

nominal share capital upto Rs. 1 -- 3609 3609 0.00% -- 3609 3609 0.00% --
lakh
44
ii) Individual shareholders holding

nominal share capital in excess of 633370 59440 692810 0.03% 633370 59440 692810 0.03% --
Rs 1 lakh
c) Others (specify) HUF 3481406 -- 3481406 0.15% 3481406 -- 3481406 0.15% --
Sub-total (B)(2) 5627656 194249 5821905 0.25% 5627656 194249 5821905 0.25% --
Total Public
25967656 194249 26161905 1.1% 25967656 194249 26161905 1.1% --
Shareholding(B)=(B)(1)+(B)(2)
C. Shares held by Custodian for

-- -- -- -- -- -- -- -- --
GDRs & ADRs
Grand Total (A+B+C) 1635134773 738954377 2374089150 100% 1635134773 738954377 2374089150 100% --
ii) Shareholding of Promoters:
Shareholding at Shareholding % change in

Sl. Shareholders
the beginning of at the end of shareholding
No. Name
the year the year during the year
% of Shares % of Shares
% of total % of total
Pledged / Pledged /
No. of Shares Shares of the No. of Shares Shares of the
encumbered to total encumbered to total
company company
shares shares
Gerdau Holdings
1. Europa S A Y 2347927245 98.9% 1.20% 2347927245 98.9% 1.20% --
CIA, S.R.C.
Total 2347927245 98.9% 1.20% 2347927245 98.9% 1.20% --
iii) Change in Promoters' Shareholding (please specify, if there is no change)
There has been no change in the promoter's shareholding for the period under review.
iv) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs):
Sl. For Each of the Top 10 Shareholding at the Cumulative Shareholding

No. Shareholders beginning of the year during the year
% of total shares of the % of total shares of the

No. of shares No. of shares
company company

1.
Fund (SASF)
45
At the beginning of the year 20000000 0.84% 20000000 0.84%
Changes -- -- -- --
At the End of the year 20000000 0.84% 20000000 0.84%
2. Y. Jithin Kumar (HUF)
Changes -- -- -- --
OptrexFinexim Private
3.
Limited
Changes -- -- -- --
4. Y. Uma Rani
Changes -- -- -- --
5. Punjab National Bank
Changes -- -- -- --

6.
Limited
46
Changes -- -- -- --
7. Monika Bose
Changes -- -- -- --

8.
Limited
Changes -- -- -- --
9. Mala Gupta
Changes -- -- -- --
10. S.K. Gupta
Changes -- -- -- --
v) Shareholding of Directors and Key Managerial Personnel:
Sl. For Each of the Directors Shareholding at the beginning Cumulative Shareholding
No. and KMP of the year during the year
% of total shares of the % of total shares of the

No. of shares No. of shares
company company
47
YalamanchiliJithin
1.
Kumar
At the beginning of the

35200 0.00% 35200 0.00%
year
Changes -- -- -- --
YalamanchiliJanardhana
2.
Rao

402 0.00% 402 0.00%
year
Changes -- -- -- --
3. Sridhar Krishnamoorthy

1 0.00% 1 0.00%
year
Changes 4 0.00% 4 0.00%
4. Sham Krishna

1 0.00% 1 0.00%
year
Changes 1 0.00% 1 0.00%
At the End of the year -- -- -- --
5. Jose Fernando Vedana

1 0.00% 1 0.00%
year
Changes 1 0.00% 1 0.00%

48
Ramaswamy
6.
Visweswaran

1 0.00% 1 0.00%
year
Changes 1 0.00% 1 0.00%
V. Indebtedness
Indebtedness of the Company including interest outstanding/accrued but not due for payment -
Secured Loans excluding deposits Unsecured Loans Deposits Total Indebtedness
Indebtedness at the beginning of the financial year
i) Principal Amount 974,17,91,000 18,00,00,000 -- 992,17,91,000
ii) Interest due but not paid -- -- -- --
iii) Interest accrued but not due 78005218 -- -- 78005218
Total (i+ii+iii) 981,97,96,,218 18,00,00,000 -- 999,97,96,218
Change in Indebtedness during the financial year
- Addition 194,09,09,315 -- -- 194,09,09,315
- Reduction (112,93,71,430) -- -- (112,93,71,430)
Indebtedness at the end of the financial year
i) Principal Amount 1055,33,28,885 18,00,00,000 -- 1073,33,28,885
ii) Interest due but not paid -- -- -- --
iii) Interest accrued but not due 7,20,64,786 -- -- 7,20,64,786
Total (i+ii+iii) 1062,53,93,666 18,00,00,000 -- 1080,53,93,666
VI. Remuneration of Directors and Key Managerial Personnel
49
A. Remuneration to Managing Director, Whole-time Directors and/or Manager
Name of Managing Director /

Sl. Total
Particulars of Remuneration Whole-time Directors /
No. Amount
Manager
Jose Fernando Vedana

Sridhar Krishnamoorthy RamaswamyVishweswaran
(Whole - time Director)
(Managing Director) (Whole - time Director)
(1)
1. Gross salary
(a) Salary as per provisions contained in

section 17(1) of the Income-tax Act, 2,80,83,496 10,10,374 81,54,939 3,72,48,809
1961
(b) Value of perquisites u/s 17(2)

-- -- --
Income-tax Act, 1961
(c) Profits in lieu of salary under section

-- -- -- --
17(3) Income-tax Act, 1961
2. Stock Option -- -- -- --
3. Sweat Equity -- -- -- --
Commission - as % of profit - others,

4. -- -- -- --
specify
5. Others, please specify -- -- -- --
Total (A) 2,80,83,496 10,10,374 81,54,939 3,72,48,809
Ceiling as per the Act Not Applicable
(1)Mr. Jose Fernando Vedana - For the period from April 1, 2016to June 15, 2016.
B. Remuneration to other directors:
The other non - executive directors of the Company are not in receipt of any kind of remuneration from the company.
C. Remuneration to Key Managerial Personnel Other than MD/Manager/WTD:
Sl.
Particulars of Remuneration Key Managerial Personnel Total
No.
Sham Krishna (Chief Satyanarayan Mohanty (1)

Financial Officer) (Company Secretary)
50
Gross salary
(a) Salary as per provisions contained in section 17(1) of the

56,11,294 12,58,000 68,69,294
Income-tax Act, 1961
(b) Value of perquisites u/s 17(2) Income-tax Act, 1961 -- -- --
(c) Profits in lieu of salary under section 17(3) Income-tax

-- -- --
Act, 1961
Stock Option -- -- --
Sweat Equity -- -- --
Commission
- as % of profit -- -- --
- others, specify
Others, please specify -- -- --
Total 56,11,294 12,58,000 68,69,294
(1) For the period from July 15, 2016 to March 31, 2017. Mr. Satyanarayan Mohanty was appointed as a Company Secretary with effect from
August 25, 2016.
VIII. Penalties / Punishment/ Compounding of Offences
Section of the Brief Details of Penalty / Punishment / Authority [RD / Appeal made, if any
Type
Companies Act Description Compounding fees imposed NCLT / Court] (give Details)
A. COMPANY
Penalty -- -- -- -- --
Punishment -- -- -- -- --
Compounding -- -- -- -- --
B. DIRECTORS
Penalty -- -- -- -- --
51
C. OTHER OFFICERS
IN DEFAULT
Penalty -- -- -- -- --
DIN: 06738209 DIN: 07268366
Place: Bengaluru
Disclosure of statement on development and implementation of risk management policy [Text Block]
In terms of the provisions of clause (n) of sub - section (3) of section 134 of the Companies Act, 2013, the Company has a policy to identify,
evaluate business risks and opportunities. The Company has in place a mechanism to identify, assess, monitor and mitigate various risks to key
business objectives. Major risks identified by the businesses and functions are systematically addressed through mitigating actions on a
continuing basis. This framework seeks to create transparency, minimize adverse impact on the business objectives and enhance the Company's
competitive advantage. These are discussed at various department level meetings of the Company. The Company has identified various risks and
also has mitigation plans for each risk identified.
Details on policy development and implementation by company on corporate social responsibility initiatives taken
during year [Text Block]
The Company has constituted a CSR Committee. Currently the Committee is comprised of Mr. Sridhar Krishnamoorthy, Mr. Jose Fernando
Vedana and Mr. Ramaswamy Visweswaran. The CSR Committee was re-constituted on June 16, 2016. Your Company has a Corporate Social
Responsibility Policy (CSR Policy) indicating the activities to be undertaken by the Company, which has been approved by the Board. The
company has incurred loss during the three immediately preceding financial years and as per sub - section 5 of section 135 of the Companies Act,
2013 and Rules made there under, the Company does not have to spend 2% of the average net profits made during the three immediately
preceding financial years. Keeping its commitment, your Company during the year continued its CSR spend in accordance with its CSR Policy
towards improving the infrastructures in schools, distribution of study kits to students, constructing room for patients at Public Health Centres
(PHC) - Tadipatri, providing and maintain RO drinking water facility, tree plantation, maintenance of link road of Jambulapadu Village, skill
development for ITI &diploma candidates and donation to some organizations working for the betterment of the society.
The Company has spent around INR 83.00 lakhs for the above activities.
52
Disclosure of financial summary or highlights [Text Block]

The Summary of financial performance of your Company for the financial year commencing from April 1, 2016 and ending as on March 31, 2017
is hereunder: (INR Thousands.)
Particulars For the year ended
March 31, 2017 March 31, 2016
Total Income 1,05,51,839 1,02,36,993
Expenditure 1,12,07,580 1,11,77,129
Profit / (Loss) Before Taxation (6,55,741) (9,40,136)
Profit / (Loss) After Taxation (6,55,741) (9,40,136)
Profit / (Loss) carried to Balance Sheet (6,55,741) (9,40,136)
53
Details of directors or key managerial personnels who were appointed or have resigned during year [Text Block]
The following members were appointed as the Directors and KMP of the company-
1. Mr. Satyanarayan Mohanty was appointed as a Company Secretary with effect from August 25, 2016.
2. Mr. Jose Fernando Vedana who was appointed as an Whole - time Director with effect from October 28, 2014 was re-designated as Non -
Executive Director with effect from June 16, 2016.
Note: The earlier Company Secretary resigned with effect from December 22, 2015 and the Company filled the vacancy by appointing Mr.
Satyanarayan Mohanty as the whole time Company Secretary with effect from August 25, 2016.
Resignation, Cessations and Changes in Directors and Key Managerial Personnel -
Mr. Jose Antonio Jainaga Gomez (Director) resigned with effect from June 16, 2016.The Board places on record their appreciation to Mr. Jose
Antonio Jainaga Gomez and wish him the very best in his future endeavors.
The composition of the Board and Key Managerial Personnel as on date of this report is as below -
Sl. No Name of the person Designation
1. Mr. Sridhar Krishnamoorthy Managing Director & KMP
2. Mr. Ramaswamy Visweswaran Whole - time Director & KMP
3. Mr. Jose Fernando Vedana Non - Executive Director
4. Mr. YalamanchiliJithin Kumar Non - Executive Director
5. Mr. YalamanchiliJanardhana Rao Non - Executive Director
6. Mr. Sham Krishna Chief Financial Officer & KMP
7. Mr. Satyanarayan Mohanty Company Secretary & KMP
Disclosure of companies which have become or ceased to be its subsidiaries, joint ventures or associate companies
during year [Text Block]
The company has no subsidiary company as on the end of the financial year March 31, 2017. Further there were no subsidiary companies which
have become or ceased to be its subsidiaries, joint ventures or associate companies during the year under review.
54
Details relating to deposits covered under chapter v of companies act [Text Block]
In terms of the provisions of Sections 73 of the Companies Act, 2013 read with the relevant rules of the Act, the Company has not accepted any
deposits during the year under review and as such, no amount of principal or interest was outstanding as on March 31, 2017.
Details of significant and material orders passed by regulators or courts or tribunals impacting going concern status
and company’s operations in future [Text Block]
There are no significant material orders passed by the Regulators or Courts or Tribunal which would impact the going concern status of the
Company and its future operations. However, members' attention is drawn to the statement on contingent liabilities, commitments in the notes
forming part of the financial statements. Separately the Company had suo-motu made applications with the Central Government for appointment
and remuneration of directors paid during the financial years 2009-2010 to 2011-2012 and 2015-2016. However, the same were rejected by the
Central Government. Further the Company decided to recover the amount paid as remuneration from the directors and has taken necessary actions
for the same. The Company could recover the remuneration paid to Mr. Vilmar Rudolf Babotand Mr. Ramaswamy Visweswaran. The Company
is taking necessary actions to recover the amount paid as remuneration to Mr. Arvind Swarup Mathur and Mr. Renan De Castro Alves Pinto.
Details regarding adequacy of internal financial controls with reference to financial statements [Text Block]
In terms of the provisions of section 134 of the Companies Act, 2013 and Rule 8 of the Companies (Accounts) Rules, 2014, the Company has a
proper and adequate system of internal controls. This ensures that all transactions are authorized, recorded and reported correctly, and assets are
safeguarded and protected against loss from unauthorized use or disposition. In addition, there are operational controls and fraud risk controls,
covering the entire spectrum of internal financial controls. The Company has in place adequate internal financial controls with reference to
financial statements. During the year, such controls were tested and no reportable material weakness in the design or operation was observed
except where existing controls over capitalization of tangible and intangible assets is to be strengthened/improved. However the Company has
made improvements in this regard and corrected the control weakness as on March 31, 2017. The Company's internal control systems are
commensurate with the nature of its business and the size and complexity of its operations. These are routinely tested by internal auditors and
audit observations and follow up actions thereon are reported to the Management/Board.
Statement showing details of employees of company under rule 5(2) and (3) of companies appointment and
remuneration of managerial personnels rules 2014 [Text Block]
In terms of Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, a statement showing the
names and other particulars of the employees drawing remuneration in excess of the limits set out in the said rules are set out in Annexure 3.
Disclosure of details of establishment of vigil mechanism [Text Block]

In terms of the provisions of sub - section (10) of section 177 of the Companies Act, 2013 and Rule 7 of the Companies (Meeting of Board and its
Powers) Rules, 2014, the Vigil Mechanism of the Company, which also incorporates a whistle blower policy, includes code of Ethics. Protected
disclosures can be made by a whistle blower through an e-mail, or telephone line.
55
[700500] Disclosures - Signatories of financial statements
Details of directors signing financial statements [Table] ..(1)

Directors signing financial statements [Axis] Sign1 Sign2
01/04/2016 01/04/2016
to to
31/03/2017 31/03/2017
Details of signatories of financial statements [Abstract]
Details of directors signing financial statements [Abstract]
Details of directors signing financial statements [LineItems]
Name of director signing financial statements [Abstract]
First name of director RAMASWAMY SRIDHAR
Middle name of director VISWESWARAN
Last name of director KRISHNAMOORTHY
Whole Time
Designation of director Director
Managing Director
Director identification number of director 07268366 06738209

Date of signing of financial statements by director 11/08/2017 28/08/2017
56
[700400] Disclosures - Auditors report
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Table] ..(1)
Auditor's Auditor's Clause not
Auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Axis] favourable remark unfavourable applicable
[Member] remark [Member] [Member]
01/04/2016 01/04/2016 01/04/2016
to to to
31/03/2017 31/03/2017 31/03/2017
Disclosure of auditor's qualification(s), reservation(s) or adverse
remark(s) in auditors' report [Abstract]
Disclosure of auditor's qualification(s), reservation(s) or
adverse remark(s) in auditors' report [LineItems]
Disclosure in auditors report relating to fixed assets Favourable
Textual information
Disclosure relating to quantitative details of fixed assets (22) [See below]
Disclosure relating to physical verification and material Textual information
discrepancies of fixed assets (23) [See below]
Textual information
Disclosure relating to title deeds of immovable properties (24) [See below]
As per Auditor's
Disclosure in auditors report relating to inventories report
Textual information
Disclosure in auditors report relating to loans (25) [See below]
The Company has
not given any loans,
investments,
guarantees to which
the provisions of
Disclosure in auditors report relating to compliance with
Section 186 of the
Section 185 and 186 of Companies Act, 2013 Act apply.
Accordingly, the
provisions of clause
(iv) of the order are
not applicable.
Textual information
Disclosure in auditors report relating to deposits accepted (26) [See below]
Disclosure in auditors report relating to maintenance of cost Textual information
records (27) [See below]
Disclosure in auditors report relating to statutory dues [TextBlock] As stated below:
Disclosure relating to regularity in payment of undisputed Textual information

statutory dues [TextBlock] (28) [See below]
Textual information
Disclosure relating to disputed statutory dues [TextBlock] (29) [See below]
The Company has
not defaulted in
repayment of dues to
Disclosure in auditors report relating to default in repayment of
its financial
financial dues institutions or banks
or debenture holders
or government.
Disclosure in auditors report relating to public offer and Textual information
term loans used for purpose for which those were raised (30) [See below]
No fraud by the
Company and no
Disclosure in auditors report relating to fraud by the fraud on the
company by its
company or on the company by its officers or its officers or
employees reported during period employees has been
noticed or reported
during the year
Textual information
Disclosure in auditors report relating to managerial remuneration (31) [See below]
57
The Company is not

a Nidhi Company.
Therefore, the
Disclosure in auditors report relating to Nidhi Company provisions of clause
(xii) of the Order are
not applicable to the
Company.
Disclosure in auditors report relating to transactions with related Textual information
parties (32) [See below]
Disclosure in auditors report relating to preferential
Textual information
allotment or private placement of shares or convertible (33) [See below]
debentures
Disclosure in auditors report relating to non-cash Textual information
transactions with directors or persons connected with him (34) [See below]
Disclosure in auditors report relating to registration Textual information
under section 45-IA of Reserve Bank of India Act, 1934 (35) [See below]
Details regarding auditors [Table] ..(1)

Auditors [Axis] Sign
01/04/2016
to
31/03/2017
Details regarding auditors [Abstract]
Details regarding auditors [LineItems]
Category of auditor Auditors firm
Ananth Shravan &
Name of audit firm Co.
Name of auditor signing report Shravan Guduthur
Firms registration number of audit firm 014076S
Membership number of auditor 227196
Address of auditors Bangalore
Permanent account number of auditor or auditor's firm AAWFA9191N
SRN of form ADT-1 G55717391
Date of signing audit report by auditors 11/08/2017
Date of signing of balance sheet by auditors 11/08/2017

01/04/2016
to
31/03/2017
Disclosure in auditor’s report explanatory [TextBlock] [See below]
Whether companies auditors report order is applicable on company Yes
Whether auditors' report has been qualified or has any reservations or
Yes
contains adverse remarks
Auditor's qualification(s), reservation(s) or adverse remark(s) in
As per Auditor's report
auditors' report
Disclosure relating to quantitative details of fixed assets

The Company is maintaining proper records showing full particulars including quantitative details and situation of property, plant and equipment.
However, these records are subject to the pending rectifications and reconciliations in line with the physical verification carried at the end of the
reporting year.
Disclosure relating to physical verification and material discrepancies of fixed assets

The Company has conducted physical verification of property, plant and equipment during the year. Out of the total discrepancies identified
amounting to Rs.34,238('000), discrepancies to the tune of Rs. 15,821('000), as identified in the report of the independent external verifier, are not
given appropriate effect in the Ind AS financial statements for the year ended March 31, 2017. The Company is in the process of reconciling such
un-adjusted differences as at the end of the reporting year. During the process of physical verification the management has identified certain
property, plant and equipment classification errors which have been duly rectified during the reporting year(Refer Note 4).
58
Disclosure relating to title deeds of immovable properties

The title deeds of all the immovable properties shown under the property, plant and equipment schedule are held in the name of the Company,
including in the erstwhile names of the Company such as Gerdau Steel India Limited, Kalyani Gerdau Steels Limited, SJK Steel Corporation
Limited, Tadipatri Metal India Limited and Sujana Metal India Limited, as stated in the records maintained by the Registrar, Government of
Andhra Pradesh.
Disclosure in auditors report relating to loans

The Company has not granted any loans, secured or unsecured, to companies, firms, limited liability partnerships or other parties covered in the
register maintained under Section 189 of the Companies Act. Therefore, the provisions of Clause (iii)(a),(b),(c) of the said Order are not
applicable to the Company.
Disclosure in auditors report relating to deposits accepted

The Company has not accepted any deposits from the public and hence the directives issued by the Reserve Bank of India and the provisions of
Sections 73 to 76 or any other relevant provisions of the Act and the Companies (Acceptance of Deposit) Rules, 2015 with regard to the deposits
accepted from the public are not applicable.
Disclosure in auditors report relating to maintenance of cost records

We have broadly reviewed the books of account maintained by the Company in respect of products where, pursuant to the rules made by the
Central Government of India, the maintenance of cost records has been prescribed under sub-section (1) of section 148 of the Act, and are of the
opinion that, prima facie, the prescribed accounts and records have been made and maintained. We have not, however, made a detailed
examination of the cost records with a view to determine whether they are accurate or complete.
Disclosure relating to regularity in payment of undisputed statutory dues [Text Block]

Except for certain dues in respect of Wealth tax the Company is generally regular in depositing undisputed statutory dues, including sales tax,
service tax, professional tax, customs duty, excise duty, value added tax, cess and other statutory dues, as applicable, with the appropriate
authorities. The extent of the arrears of statutory dues outstanding as at March 31, 2017, for a period of more than six months from the date they
became payable are as follows:
Name of the statute Nature of dues Amount (Rs. in Thousands) Period to which the amount relates Due date Date of Payment
Wealth Tax Act, 1957 Wealth Tax 29,038 2009-2015 Various Not Paid
We are unable to comment on dues which have not been deposited on account of dispute in respect of litigations relating to income tax
aggregating to Rs 1,610 (000), excise duty aggregating to Rs. 12,000 (000) and sales tax aggregating to Rs 13,955 (000),including other claims
against the Company not acknowledged as debts aggregating to Rs. 22,360 (000), as the necessary details were not made available to us for our
examination.
59
Disclosure relating to disputed statutory dues [Text Block]

There are no dues of wealth-tax, sales tax and customs duty which have not been deposited on account of any dispute. The particulars of dues of
income tax, service-tax, VAT and excise duty as at March 31, 2017 which have not been deposited on account of disputes are as follows:
Disputed Payment under Net Amount Period to

Forum where the dispute is
Name of the statute Nature of dues Amount (Rs. in protest (Rs. in (Rs. in which the
pending
Thousands) Thousands) Thousands) amount relates
Excise duty,
Central Excise Act, 1944 Central Excise, Customs and
Service Tax,
and Finance Act, 1994 91,790 5,500 86,290 2008-17 Service Tax Appellate
Interest and
(Service Tax) Tribunal
Penalty
VAT/Sales Tax, Appellate Deputy

AP VAT Act, 2005 Interest and 267,816 98,656 169,160 2004-16 Commissioner, and Assistant/
Penalty Deputy Commissioner
aggregating to Rs 1,610 (000), excise duty aggregating to Rs. 12,000 (000) and sales tax aggregating to Rs 13,955 (000), including other claims
examination.
Disclosure in auditors report relating to public offer and term loans used for purpose for which those were raised
The company has not raised moneys by way of initial public offer or further public offer including debt instruments and term Loans. Accordingly,
the provisions of clause 3 (ix) of the Order are not applicable to the Company and hence not commented upon.
Disclosure in auditors report relating to managerial remuneration

The provisions of Sec-197 with respect to Managerial Remuneration does not apply to private limited Companies. Para 3(11) of the Order is
therefore not applicable to the company as on the reporting date.
Disclosure in auditors report relating to transactions with related parties

The company has not entered into any Related Party transactions within the meaning of Sec-188 of the Act during the year. Accordingly, Section
177 of the Act is not applicable. Para 3(13) of the Order is therefore not applicable to the company.
Disclosure in auditors report relating to preferential allotment or private placement of shares or convertible
debentures
The company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year
under review. Accordingly, the provisions of clause (xiv) of the Order are not applicable to the Company and hence not commented upon.
60
Disclosure in auditors report relating to non-cash transactions with directors or persons connected with him
The company has not entered into any non-cash transactions with directors or persons connected with him as stipulated u/s 192 of the Act.
Accordingly, the provisions of clause (xv) of the Order are not applicable to the Company and hence not commented upon.
Disclosure in auditors report relating to registration under section 45-IA of Reserve Bank of India Act, 1934
The company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934 and accordingly, the provisions of
clause (xvi) of the Order are not applicable to the Company and hence not commented upon.
61
Disclosure in auditor’s report explanatory [Text Block]

INDEPENDENT AUDITOR'S REPORT
To
The Members
GERDAU STEEL INDIA PRIVATE LIMITED
Report on the Ind AS Financial Statements
1. We have audited the accompanying Ind AS financial statements (the "Financial Statements") of M/s GERDAU STEEL INDIA PRIVATE
LIMITED (erstwhile Gerdau Steel India Limited) ("the Company"), which comprise the Balance Sheet as at March 31, 2017, the Statement of
Profit and Loss (including Other Comprehensive Income), the Cash Flow Statement, and the Statement of Changes in Equity for the year then
ended, and a summary of the significant accounting policies and other explanatory information.
Management's Responsibility for the Ind AS Financial Statements
2. The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect
to the preparation of these Ind AS financial statements that give a true and fair view of the financial position, financial performance including
other comprehensive income, cash flows and changes in equity of the Company in accordance with the accounting principles generally accepted
inIndia, including the Indian Accounting Standards (IndAS) prescribed under Section 133 of the Act. This responsibility also includes
maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for
preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and
estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were
operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Ind
AS financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.
Auditors Responsibility
3. Our responsibility is to express an opinion on these Ind AS financial statements based on our audit. We have taken into account the provisions
of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act
and the Rules made there under.
4. We conducted our audit of the Ind AS financial statements in accordance with the Standards on Auditing specified under Section 143(10) of the
Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about
whether the Ind AS financial statements are free from material misstatement.
5. An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the Ind AS financial statements.
The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the Ind AS financial
statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the
Company's preparation of the Ind AS financial statements that give a true and fair view in order to design audit procedures that are appropriate in
the circumstances. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting
estimates made by the Company's Directors, as well as evaluating the overall presentation of the Ind AS financial statements.
6. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Ind AS
financial statements.
Basis for Qualified Opinion
7. We draw your attention to Note 42 to the Financial Statements regarding certain payments made through a non-executive director of the
Company during the year aggregating to Rs. 9,240(000). In the absence of sufficient and appropriate audit evidence we are unable to comment on
whether such payments or expenses are personal in nature or incurred by the Company in the ordinary course of its business activities.
62
Qualified Opinion
8. In our opinion, and to the best of our information and according to the explanations given to us, except for the matters referred to in paragraph
7above, the impact of which on the financial statements cannot be ascertained, the aforesaid Ind AS financial statements give the information
required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in
India, of the state of affairs of the Company as at March 31, 2017, and its loss, total comprehensive income, its cash flows and the changes in
equity for the year ended on that date.
Emphasis of Matter
9. We draw attention to Note 58 to the Financial Statements, regarding Management's assessment of the present value of estimated future cash
flows expected to arise from the continuing use of the assets and the conclusion that no provision for impairment of fixed assets is considered
necessary. In our opinion, the future cash flows as estimated by the management is a matter involving significant assumptions, and in the absence
of a past history of performance is a matter involving significant uncertainty, estimates and judgments. Our opinion is not qualified in respect of
this matter.
Report on Other Legal and Regulatory Requirements
10. As required by the Companies(Auditor's Report)Order,2016("the Order"),as amended, issued by the Central Government of India in exercise
of powers conferred by sub-section (11)of section 143of the Act, we enclose in" Annexure A" a statement on the matters specified in paragraphs 3
and 4 of the Order.
11. Further to our comments in the annexure, as required by sub-section (3) of section143 of the Act, we report that:
a) Except for the matters referred to in paragraph 7above, we have sought and obtained all the information and explanations which, to the best of
our knowledge and belief, were necessary for the purpose of our audit;
b) In our opinion, except for the indeterminate effects of matters referred to in Basis for Qualified Opinion (paragraph 7) above, proper books of
account as required by law have been kept by the Company so far as appears from our examination of those books;
c) The Balance Sheet, Statement of Profit and Loss including Other Comprehensive Income, the Cash Flow Statement, and the Statement of
Changes in Equity dealt with by this Report are in agreement with the books of account;
d) In our opinion, the aforesaid Ind AS financial statements comply with the Indian Accounting Standards prescribed under Section 133 of the
Act;
e) On the basis of the written representations received from the directors as on March 31, 2017 taken on record by the Board of Directors, none of
the directors is disqualified as on March 31, 2017 from being appointed as a director in terms of Section 164(2) of the Act.
f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such
controls, refer to our separate Report in "Annexure B"
g) With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors)
Rules, 2014, as amended, in our opinion and to the best of our information and according to the explanations given to us:
i. The company has disclosed the impact of pending litigations on its financial position in its Ind AS financial statements except for cases referred
to in clause vii (a) and (b) of the Annexure A to this report.
ii. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.
iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.
iv. The Company has provided requisite disclosures in the Ind AS financial statements as regards its holding and dealings in Specified Bank
Notes as defined in the Notification S.O. 3407(E)dated the November 8, 2016 of the Ministry of Finance, during the period from November 8,
63
2016 to December 30, 2016.Based on audit procedures performed and the representations provided to us by the management we report that the
disclosures are in accordance with the books of account maintained by the Company and as produced to us by the Management. Also refer Note -
48 to the IndAS financial statements.
For Ananth Shravan & Co.,

Chartered Accountants
Firm Registration Number :014076S
Shravan Guduthur
Partner
Membership Number : 227196
Place: Bangalore
'Annexure A' to Independent Auditor's Report
Referred to in paragraph 10 of the Independent Auditor's report of even date to the members of Gerdau Steel India Private Limited ( Formerly
Known as Gerdau Steel India Limited) on the Ind As financial statement as of and for the year ended March 31, 2017
i. (a) The Company is maintaining proper records showing full particulars including quantitative details and situation of property, plant and
equipment. However, these records are subject to the pending rectifications and reconciliations in line with the physical verification carried at the
end of the reporting year.
(b) The Company has conducted physical verification of property, plant and equipment during the year. Out of the total discrepancies identified
un-adjusted differences as at the end of the reporting year. During the process of physical verification the management has identified certain
property, plant and equipment classification errors which have been duly rectified during the reporting year(Refer Note 4).
(c) The title deeds of all the immovable properties shown under the property, plant and equipment schedule are held in the name of the Company,
including in the erstwhile names of the Company such as Gerdau Steel India Limited, Kalyani Gerdau Steels Limited, SJK Steel Corporation
Limited, Tadipatri Metal India Limited and Sujana Metal India Limited, as stated in the records maintained by the Registrar, Government of
Andhra Pradesh.
ii. (a) The Management has carried out physical verification of inventories during the year, excluding certain inventories of Semi-Finished goods
in the nature of Scrap aggregating to Rs.206,128('000) owing to the inherent nature of the goods. Stores and Spares aggregating to Rs.
220,766('000)(including excise duty) were not covered under physical verification.
(b) The procedures followed by the Management for physical verification of inventory are reasonable and adequate in relation to the size of the
Company and the nature of its business.
(c) The Company is maintaining proper records of inventory. Discrepancies identified on physical verification of such inventory amounting to
Rs.17,260('000)have been appropriately dealt with in the books of accounts. In respect of inventories which were not physically verified by
Management during the year we are unable to determine whether the unadjusted discrepancies, if any, are material.
iii. The Company has not granted any loans, secured or unsecured, to companies, firms, limited liability partnerships or other parties covered in
the register maintained under Section 189 of the Companies Act. Therefore, the provisions of Clause (iii)(a),(b),(c) of the said Order are not
applicable to the Company.
iv. The Company has not given any loans, investments, guarantees to which the provisions of Section 186 of the Act apply. Accordingly, the
provisions of clause (iv) of the order are not applicable.
v. The Company has not accepted any deposits from the public and hence the directives issued by the Reserve Bank of India and the provisions of
Sections 73 to 76 or any other relevant provisions of the Act and the Companies (Acceptance of Deposit) Rules, 2015 with regard to the deposits
accepted from the public are not applicable.
64
vi. We have broadly reviewed the books of account maintained by the Company in respect of products where, pursuant to the rules made by the
Central Government of India, the maintenance of cost records has been prescribed under sub-section (1) of section 148 of the Act, and are of the
opinion that, prima facie, the prescribed accounts and records have been made and maintained. We have not, however, made a detailed
examination of the cost records with a view to determine whether they are accurate or complete.
vii. (a) Except for certain dues in respect of Wealth tax the Company is generally regular in depositing undisputed statutory dues, including sales
tax, service tax, professional tax, customs duty, excise duty, value added tax, cess and other statutory dues, as applicable, with the appropriate
authorities. The extent of the arrears of statutory dues outstanding as at March 31, 2017, for a period of more than six months from the date they
became payable are as follows:
Name of the statute Nature of dues Amount (Rs. in Thousands) Period to which the amount relates Due date Date of Payment
Wealth Tax Act, 1957 Wealth Tax 29,038 2009-2015 Various Not Paid
aggregating to Rs 1,610 (000), excise duty aggregating to Rs. 12,000 (000) and sales tax aggregating to Rs 13,955 (000),including other claims
examination.
(b) There are no dues of wealth-tax, sales tax and customs duty which have not been deposited on account of any dispute. The particulars of dues
of income tax, service-tax, VAT and excise duty as at March 31, 2017 which have not been deposited on account of disputes are as follows:
Disputed Payment under Net Amount Period to

Forum where the dispute is
Name of the statute Nature of dues Amount (Rs. in protest (Rs. in (Rs. in which the
pending
Thousands) Thousands) Thousands) amount relates
Excise duty,
Central Excise Act, 1944 Central Excise, Customs and
Service Tax,
and Finance Act, 1994 91,790 5,500 86,290 2008-17 Service Tax Appellate
Interest and
(Service Tax) Tribunal
Penalty
VAT/Sales Tax, Appellate Deputy

AP VAT Act, 2005 Interest and 267,816 98,656 169,160 2004-16 Commissioner, and Assistant/
Penalty Deputy Commissioner
aggregating to Rs 1,610 (000), excise duty aggregating to Rs. 12,000 (000) and sales tax aggregating to Rs 13,955 (000), including other claims
examination.
viii. The Company has not defaulted in repayment of dues to its financial institutions or banks or debenture holders or government.
ix. The company has not raised moneys by way of initial public offer or further public offer including debt instruments and term Loans.
Accordingly, the provisions of clause 3 (ix) of the Order are not applicable to the Company and hence not commented upon.
x. No fraud by the Company and no fraud on the company by its officers or employees has been noticed or reported during the year.
xi. The provisions of Sec-197 with respect to Managerial Remuneration does not apply to private limited Companies. Para 3(11) of the Order is
therefore not applicable to the company as on the reporting date.
xii. The Company is not a Nidhi Company. Therefore, the provisions of clause (xii) of the Order are not applicable to the Company.
xiii. The company has not entered into any Related Party transactions within the meaning of Sec-188 of the Act during the year. Accordingly,
Section 177 of the Act is not applicable. Para 3(13) of the Order is therefore not applicable to the company.
65
xiv. The company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year
under review. Accordingly, the provisions of clause (xiv) of the Order are not applicable to the Company and hence not commented upon.
xv. The company has not entered into any non-cash transactions with directors or persons connected with him as stipulated u/s 192 of the Act.
Accordingly, the provisions of clause (xv) of the Order are not applicable to the Company and hence not commented upon.
xvi. The company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934 and accordingly, the provisions of
clause (xvi) of the Order are not applicable to the Company and hence not commented upon.

Firm Registration Number : 014076S
Shravan Guduthur
Partner
Membership Number : 227196
Place: Bangalore
Date: August11, 2017
'Annexure B' to Independent Auditor's Report
Referred to in paragraph 11(f) of the Independent Auditor's report of even date to the members of Gerdau Steel India Private Limited ( Formerly
Known as Gerdau Steel India Limited) on the Ind As financial statement as of and for the year ended March 31, 2017
Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 ("the Act")
We have audited the internal financial controls over financial reporting of Gerdau Steel India Private Limited ("the Company")(formerly known
as Gerdau Steel India Limited) as of March 31, 2017 in conjunction with our audit of the Ind AS financial statements of the Company for the year
ended on that date.
Management's Responsibility for Internal Financial Controls
The Company's Management is responsible for establishing and maintaining internal financial controls based on the internal control over financial
reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of
Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India. These responsibilities include the
design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and
efficient conduct of its business, including adherence to the Company's policies, the safeguarding of its assets, the prevention and detection of
frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as
required under the Companies Act, 2013.
Auditor's Responsibility
Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit. We conducted
our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the "Guidance Note") and the
Standards on Auditing as specified under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial
controls, both applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants of India. Those
Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance
about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated
effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial
reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of
internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and
operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor's judgments, including the
assessment of the risks of material misstatement of the Ind AS financial statements, whether due to fraud or error.
66
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the internal financial
controls system over financial reporting.
Meaning of Internal Financial Controls over Financial Reporting
A company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of Ind AS financial statements for external purposes in accordance with generally accepted accounting
principles. A company's internal financial control over financial reporting includes those policies and procedures that:
1. pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the
company;
2. provide reasonable assurance that transactions are recorded as necessary to permit preparation of Ind AS financial statements in accordance
with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with
authorizations of management and directors of the company; and
3. provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets
that could have a material effect on the Ind AS financial statements.
Inherent Limitations of Internal Financial Controls over Financial Reporting
Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper
management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation
of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial
reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may
deteriorate.
Opinion
In our opinion, the Company has, in all material respects, an adequate internal financial controls system over financial reporting, and such internal
financial controls over financial reporting were operating effectively, except controls over capitalization of Property, Plant and Equipment, and
Intangible Assets, where the process needs to be strengthened, as at March 31, 2017, based on the internal control over financial reporting criteria
established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial
Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.
Explanatory paragraph
We also have audited, in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India, as specified under
Section 143(10) of the Act, theInd AS financial statements of the Company, which comprise the Balance Sheet as at March 31, 2017, the
Statement of Profit and Loss (including Other Comprehensive Income), the Cash Flow Statement, and the Statement of Changes in Equity for the
year then ended, and a summary of the significant accounting policies and other explanatory information, and our report even dated expressed a
qualified opinion thereon.

Firm Registration Number: 014076S
Shravan Guduthur
Partner
Membership Number: 227196
Place: Bangalore
67
[700700] Disclosures - Secretarial audit report

01/04/2016
to
31/03/2017
Disclosure in secretarial audit report explanatory [TextBlock]
Whether secretarial audit report is applicable on company No
68
[110000] Balance sheet

31/03/2017 31/03/2016 31/03/2015
Balance sheet [Abstract]
Assets [Abstract]
Non-current assets [Abstract]
Property, plant and equipment 1,47,99,778 1,54,70,526 1,11,95,241
Capital work-in-progress 6,59,855 6,23,369 41,81,942
Investment property 0 0 0
Goodwill 0 0 0
Other intangible assets 24,632 33,066 28,100
Intangible assets under development 0 0 0
Biological assets other than bearer plants 0 0 0
Investments accounted for using equity method 0 0 0
Non-current financial assets [Abstract]
Non-current investments 84,947 84,947 84,947
Trade receivables, non-current 0 0 0
Loans, non-current 0 0 0
Other non-current financial assets 1,38,636 2,09,409 40,670
Total non-current financial assets 2,23,583 2,94,356 1,25,617
Deferred tax assets (net) 0 0 0
Other non-current assets 3,05,630 7,24,202 13,05,065
Total non-current assets 1,60,13,478 1,71,45,519 1,68,35,965
Current assets [Abstract]
Inventories 33,35,184 25,21,108 29,07,218
Current financial assets [Abstract]
Current investments 0 0 0
Trade receivables, current 12,46,183 8,89,891 10,94,571
Cash and cash equivalents 29,895 1,06,505 1,66,225
Bank balance other than cash and cash equivalents 0 0 0
Loans, current 0 0 0
Other current financial assets 1,34,358 83,364 27,042
Total current financial assets 14,10,436 10,79,760 12,87,838
Current tax assets 0 0 0
Other current assets 3,15,470 1,58,202 10,28,927
Total current assets 50,61,090 37,59,070 52,23,983
Non-current assets classified as held for sale 0 0 0
Total assets 2,10,74,568 2,09,04,589 2,20,59,948
Equity and liabilities [Abstract]
Equity [Abstract]
Equity attributable to owners of parent [Abstract]
Equity share capital 2,37,40,892 2,37,40,892 2,37,40,892
Other equity -1,52,91,448 -1,46,29,881 -1,36,90,935
Total equity attributable to owners of parent 84,49,444 91,11,011 1,00,49,957
Non controlling interest 0 0 0
Total equity 84,49,444 91,11,011 1,00,49,957
Liabilities [Abstract]
Non-current liabilities [Abstract]
Non-current financial liabilities [Abstract]
Borrowings, non-current 60,31,086 76,97,158 74,76,745
Trade payables, non-current 0 0 0
Other non-current financial liabilities 0 0 94,772
Total non-current financial liabilities 60,31,086 76,97,158 75,71,517
Provisions, non-current 53,190 40,818 36,473
Deferred tax liabilities (net) 0 0 0
Deferred government grants, Non-current 0 0 0
Total non-current liabilities 60,84,276 77,37,976 76,07,990
Current liabilities [Abstract]
Current financial liabilities [Abstract]
Borrowings, current 32,09,149 23,42,195 15,92,293
69
Trade payables, current (A) 14,77,299

11,71,476 18,34,658
Other current financial liabilities 16,11,755 53,643 49,082

Total current financial liabilities 62,98,203 35,67,314 34,76,033
Other current liabilities 1,47,185 3,94,639 8,32,538
Provisions, current 95,460 93,649 93,430
Current tax liabilities 0 0 0
Deferred government grants, Current 0 0 0
Total current liabilities 65,40,848 40,55,602 44,02,001
Liabilities directly associated with assets in disposal group
0 0 0
classified as held for sale
Total liabilities 1,26,25,124 1,17,93,578 1,20,09,991
Total equity and liabilities 2,10,74,568 2,09,04,589 2,20,59,948
Footnotes
(A) Trade Payables Include Total outstanding dues of Micro Enterprises & Small Enterprises: 31.03.2017 - Rs.1,19,48,000/-, 31.03.2016
- Rs.63,65,000/- and 01.04.2015 - Rs.6,25,000/-
[210000] Statement of profit and loss
Earnings per share [Table] ..(1)

Classes of equity share capital [Axis] Equity shares [Member] Equity shares 1 [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Statement of profit and loss [Abstract]
Earnings per share [Abstract]
Earnings per share [Line items]
Basic earnings per share [Abstract]
Basic earnings (loss) per share from
[INR/shares] -0.28 [INR/shares] -0.4 [INR/shares] -0.28 [INR/shares] -0.4
continuing operations
Basic earnings (loss) per share from
[INR/shares] 0 [INR/shares] 0 [INR/shares] 0 [INR/shares] 0
discontinued operations
Total basic earnings (loss) per share [INR/shares] -0.28 [INR/shares] -0.4 [INR/shares] -0.28 [INR/shares] -0.4
Diluted earnings per share [Abstract]
Diluted earnings (loss) per share from
[INR/shares] -0.28 [INR/shares] -0.4 [INR/shares] -0.28 [INR/shares] -0.4
continuing operations
Diluted earnings (loss) per share from
[INR/shares] 0 [INR/shares] 0 [INR/shares] 0 [INR/shares] 0
discontinued operations
Total diluted earnings (loss) per share [INR/shares] -0.28 [INR/shares] -0.4 [INR/shares] -0.28 [INR/shares] -0.4
70

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Statement of profit and loss [Abstract]
Income [Abstract]
Revenue from operations 1,04,60,074 1,01,08,239
Other income 91,765 1,28,754
Total income 1,05,51,839 1,02,36,993
Expenses [Abstract]
Cost of materials consumed 54,86,783 49,37,744
Purchases of stock-in-trade 0 0
Changes in inventories of finished goods, work-in-progress and
-3,82,050 4,03,993
stock-in-trade
Employee benefit expense 5,33,559 5,62,735
Finance costs 10,14,916 9,55,047
Depreciation, depletion and amortisation expense 9,34,780 8,26,218
Other expenses 36,19,592 34,91,392
Total expenses 1,12,07,580 1,11,77,129
Profit before exceptional items and tax -6,55,741 -9,40,136
Total profit before tax -6,55,741 -9,40,136
Tax expense [Abstract]
Deferred tax 0 0
Total tax expense 0 0
Net movement in regulatory deferral account balances related to
0 0
profit or loss and the related deferred tax movement
Total profit (loss) for period from continuing operations -6,55,741 -9,40,136
Profit (loss) from discontinued operations before tax 0 0
Tax expense of discontinued operations 0 0
Total profit (loss) from discontinued operations after tax 0 0
Total profit (loss) for period -6,55,741 -9,40,136
Profit or loss, attributable to owners of parent -6,55,741 -9,40,136
Profit or loss, attributable to non-controlling interests 0 0
Comprehensive income OCI components presented net of tax [Abstract]
Whether company has other comprehensive income OCI components
No No
presented net of tax
Other comprehensive income net of tax [Abstract]
Total other comprehensive income -5,826 1,190
Total comprehensive income -6,61,567 -9,38,946
Comprehensive income attributable to net of tax [Abstract]
Comprehensive income, attributable to owners of parent -6,61,567 -9,38,946
Comprehensive income, attributable to non-controlling interests 0 0
Comprehensive income OCI components presented before tax [Abstract]
Whether company has comprehensive income OCI components presented
Yes Yes
before tax
Other comprehensive income before tax [Abstract]
Components of other comprehensive income that will not be
reclassified to profit or loss, before tax [Abstract]
Other comprehensive income, before tax, gains (losses) on
-5,826 1,190
remeasurements of defined benefit plans
Other comprehensive income that will not be reclassified to
-5,826 1,190
profit or loss, before tax
Total other comprehensive income, before tax -5,826 1,190
Income tax relating to components of other comprehensive
income that will not be reclassified to profit or loss
[Abstract]
Income tax relating to remeasurements of defined benefit plans
0 0
of other comprehensive income
Aggregated income tax relating to components of other
comprehensive income that will not be reclassified to 0 0
profit or loss
Total other comprehensive income -5,826 1,190
Comprehensive income attributable to [Abstract]
Comprehensive income, attributable to owners of parent -6,61,567 -9,38,946
Comprehensive income, attributable to non-controlling interests 0 0
Earnings per share explanatory [TextBlock]
71
Earnings per share [Abstract]

Basic earnings (loss) per share from continuing operations [INR/shares] -0.28 [INR/shares] -0.4
Basic earnings (loss) per share from discontinued operations [INR/shares] 0 [INR/shares] 0
Total basic earnings (loss) per share [INR/shares] -0.28 [INR/shares] -0.4
Diluted earnings (loss) per share from continuing operations [INR/shares] -0.28 [INR/shares] -0.4
Diluted earnings (loss) per share from discontinued operations [INR/shares] 0 [INR/shares] 0
Total diluted earnings (loss) per share [INR/shares] -0.28 [INR/shares] -0.4
[210000a] Statement of profit and loss
Other comprehensive income that will not be reclassified to profit or loss, before tax, others [Table] ..(1)
Other comprehensive income that will not be reclassified to profit or loss, before tax, others [Axis] OCI
01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Other comprehensive income that will not be reclassified to profit or loss, before tax,
others [Abstract]
others [Line items]
Remeasurements of Remeasurements of
Description of other comprehensive income that will not be reclassified to profit
the defined benefit the defined benefit
or loss, before tax, others plans plans
-5,826 1,190
others
[400200] Statement of changes in equity
Statement of changes in equity [Table] ..(1)

Equity attributable
to the equity
Components of equity [Axis] Equity [Member]
holders of the
parent [Member]
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period -6,55,741 -9,40,136 -6,55,741
Total comprehensive income -6,55,741 -9,40,136 -6,55,741
Other changes in equity [Abstract]
Other additions to reserves -5,826 1,190 -5,826
Total other changes in equity -5,826 1,190 -5,826
Total increase (decrease) in equity -6,61,567 -9,38,946 -6,61,567
Other equity at end of period -1,52,91,448 -1,46,29,881 -1,36,90,935 -1,52,91,448
72

Equity attributable to the equity holders
Components of equity [Axis] Reserves [Member]
of the parent [Member]
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
Equity [Abstract]
Profit (loss) for period -9,40,136 -6,55,741 -9,40,136
Total comprehensive income -9,40,136 -6,55,741 -9,40,136
Other additions to reserves 1,190 -5,826 1,190
Total other changes in equity 1,190 -5,826 1,190
Total increase (decrease) in equity -9,38,946 -6,61,567 -9,38,946
Other equity at end of period -1,46,29,881 -1,36,90,935 -1,55,78,791 -1,49,17,224

Components of equity [Axis] Reserves [Member] Securities premium reserve [Member]
31/03/2015 31/03/2017 31/03/2016 31/03/2015
Equity [Abstract]
Other equity at end of period -1,39,78,278 31,71,433 31,71,433 31,71,433

Retained earnings
Components of equity [Axis] Capital redemption reserves [Member]
[Member]
01/04/2016
31/03/2017 31/03/2016 31/03/2015 to
31/03/2017
Equity [Abstract]
Profit (loss) for period -6,55,741
Total comprehensive income -6,55,741
Other additions to reserves -5,826
Total other changes in equity -5,826
Total increase (decrease) in equity -6,61,567
Other equity at end of period 4,27,115 4,27,115 4,27,115 -1,91,77,339
73

Remeasurements of defined benefit plans
Components of equity [Axis] Retained earnings [Member]
[Member]
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
Equity [Abstract]
Profit (loss) for period -9,40,136
Total comprehensive income -9,40,136
Other additions to reserves 1,190 -5,826 1,190
Total other changes in equity 1,190 -5,826 1,190
Total increase (decrease) in equity -9,38,946 -5,826 1,190
Other equity at end of period -1,85,15,772 -1,75,76,826 -4,636 1,190

Remeasurements of
Components of equity [Axis] defined benefit Other retained earning [Member]
plans [Member]
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
Equity [Abstract]
Profit (loss) for period -6,55,741 -9,40,136
Total increase (decrease) in equity -6,55,741 -9,40,136
Other equity at end of period 0 -1,91,72,703 -1,85,16,962 -1,75,76,826

Other equity other
Components of equity [Axis] Other equity other [Member]
1 [Member]
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
Equity [Abstract]
Other equity at end of period 2,87,343 2,87,343 2,87,343 2,87,343
Other Equity
represents fair value
Other Equity represents fair Other Equity represents fair
adjustments of
value adjustments of Interest value adjustments of Interest
Interest Free Loan
Description of nature of other equity, others Free Loan from Director and Free Loan from Director and
from Director and
Preference Share Capital Preference Share Capital
Preference Share
classified as Debt classified as Debt
Capital classified as
Debt
74

Components of equity [Axis] Other equity other 1 [Member]
01/04/2015
to 31/03/2015
31/03/2016
Equity [Abstract]
Other equity at end of period 2,87,343 2,87,343
Other Equity represents fair value
adjustments of Interest Free Loan
Description of nature of other equity, others from Director and Preference Share
Capital classified as Debt
[320000] Cash flow statement, indirect

01/04/2016 01/04/2015
to to 31/03/2015
31/03/2017 31/03/2016
Statement of cash flows [Abstract]
Whether cash flow statement is applicable on company Yes Yes
Cash flows from used in operating activities [Abstract]
Profit before tax -6,55,741 -9,40,136
Adjustments for reconcile profit (loss) [Abstract]
Adjustments for finance costs 10,14,916 9,55,047
Adjustments for decrease (increase) in inventories -8,14,077 3,86,110
Adjustments for decrease (increase) in trade receivables, current -3,56,292 2,04,681
Adjustments for decrease (increase) in other current assets -1,57,267 8,70,724
Adjustments for decrease (increase) in other non-current assets 4,25,721 5,71,420
Adjustments for other financial assets, current 19,779 -2,25,060
Adjustments for increase (decrease) in trade payables, current 3,01,347 -6,63,186
Adjustments for increase (decrease) in other current liabilities -3,07,005 -4,69,287
Adjustments for depreciation and amortisation expense 9,34,780 8,26,218
Adjustments for provisions, current 8,357 5,754
Adjustments for other financial liabilities, current 0 -94,772
Adjustments for unrealised foreign exchange losses gains -20,967 -39,362
Adjustments for interest income 57,482 42,778
Other adjustments for non-cash items (A) 3,578

-21,241
Total adjustments for reconcile profit (loss) 9,95,388 22,64,268

Net cash flows from (used in) operations 3,39,647 13,24,132
Net cash flows from (used in) operating activities 3,39,647 13,24,132
Cash flows from used in investing activities [Abstract]
Purchase of property, plant and equipment 2,92,085 15,47,896
Interest received 37,919 26,848
Net cash flows from (used in) investing activities -2,54,166 -15,21,048
Cash flows from used in financing activities [Abstract]
Proceeds from borrowings 15,58,112 2,64,336
Repayments of borrowings 16,45,104 0
Interest paid 9,42,053 8,77,042
Other inflows (outflows) of cash 0 -15,92,293
Net cash flows from (used in) financing activities -10,29,045 -22,04,999
Net increase (decrease) in cash and cash equivalents before effect of
-9,43,564 -24,01,915
exchange rate changes
Net increase (decrease) in cash and cash equivalents -9,43,564 -24,01,915
Cash and cash equivalents cash flow statement at end of period -31,79,254 -22,35,690 1,66,225
Footnotes
(A) Advances Written off, Provision for Doubtful Debts and Liabilities no longer required written back
75
[610100] Notes - List of accounting policies

01/04/2016
to
31/03/2017
As stated below:
Disclosure of significant accounting policies [TextBlock]

Description of accounting policy for borrowing costs [TextBlock] [See below]
Description of accounting policy for contingent liabilities and Textual information (38)
contingent assets [TextBlock] [See below]
Description of accounting policy for deferred income tax [TextBlock] [See below]
Description of accounting policy for derecognition of financial Textual information (40)
instruments [TextBlock] [See below]
Description of accounting policy for derivative financial instruments Textual information (41)
Description of accounting policy for determining components of cash and Textual information (42)
cash equivalents [TextBlock] [See below]
Description of accounting policy for earnings per share [TextBlock] [See below]
Description of accounting policy for employee benefits [TextBlock] [See below]
Description of accounting policy for fair value measurement [TextBlock] [See below]
Description of accounting policy for financial instruments [TextBlock] [See below]
Description of accounting policy for financial instruments at fair Textual information (47)
value through profit or loss [TextBlock] [See below]
Description of accounting policy for foreign currency translation Textual information (48)
Description of accounting policy for impairment of assets [TextBlock] [See below]
Description of accounting policy for income tax [TextBlock] [See below]
Description of accounting policy for intangible assets other than goodwill Textual information (51)
Description of accounting policy for leases [TextBlock] [See below]
Description of accounting policy for measuring inventories [TextBlock] [See below]
Description of accounting policy for offsetting of financial instruments Textual information (54)
Description of accounting policy for property, plant and equipment Textual information (55)
Description of accounting policy for recognition of revenue [TextBlock] [See below]
Description of other accounting policies relevant to understanding of Textual information (57)
financial statements [TextBlock] [See below]
Description of accounting policy for borrowing costs [Text Block]

Borrowingcostsdirectlyattributabletotheacquisition,constructionorproductionofanassetthatnecessarilytakesasubstantialperiodoftimetogetreadyforitsintendeduse
Interest income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the
borrowing costs eligible for capitalisation.
The Company shall cease capitalising borrowing costs when substantially all the activities necessary to prepare the qualifying asset for its
intended use or sale are complete.
76
Description of accounting policy for contingent liabilities and contingent assets [Text Block]
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events, it is probable that an outflow
of resources embodying economic benefits will be required to settle the obligation and the amount can be reliably estimated. Provisions are not
recognised for future operating losses.
Provisions for restructuring are recognised by the company when it has developed a detailed formal plan for restructuring and has raised a valid
expectation in those affected that the company will carry out the restructuring by starting to implement the plan or announcing its main features to
those affected by it.
Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the
class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same
class of obligations may be small.
Provisions are measured at the present value of management's best estimate of the expenditure required to settle the present obligation at the end
of the reporting period if the effect of time value of money is material. The discount rate used to determine the present value is a current pre-tax
rate. The increase in the provision due to the passage of time is recognised as interest expense.
The measurement of provision for restructuring includes only direct expenditures arising from the restructuring, which are both necessarily
entailed by the restructuring and not associated with the ongoing activities of the company.
Contingent liabilities are disclosed in the case of:
- a present obligation arising from the past events, when it is not probable that an outflow of resources will be required to settle the obligation;
- a present obligation arising from the past events, when no reliable estimate is possible;
- a possible obligation arising from past events, unless the probability of outflow of resources is remote.
Contingent Assets is disclosed when inflow of economic benefits is probable.
Contingent Liabilities in respect of show-cause notices are considered only when converted into demands.
77
Description of accounting policy for deferred income tax [Text Block]

Deferred tax
Deferred tax is provided using the balance sheet approach on temporary differences at the reporting date between the tax bases of assets and
liabilities and their carrying amounts for financial reporting purposes at the reporting date.
Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses.
Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary
differences, and the carry forward of unused tax credits and unused tax losses can be utilised.
The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient
taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are reassessed at each
reporting date and are recognised to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be
recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is
settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.
Deferred tax relating to items recognised outside the statement of profit and loss is recognised outside the statement of profit and loss. Deferred
tax items are recognised in correlation to the underlying transaction either in other comprehensive income or directly in equity.
Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax
liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.
Description of accounting policy for derecognition of financial instruments [Text Block]

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial
liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially
modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The
difference in the respective carrying amounts is recognised in the statement of profit or loss.
Description of accounting policy for derivative financial instruments [Text Block]

The Company uses derivative financial instruments, such as interest rate swaps and cross currency swaps, to hedge its foreign currency risks.
Such derivative financial instruments are initially recognized at fair value on the date on which a derivative contract is entered into and
subsequently re measured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when
fair value is negative.
78
Description of accounting policy for determining components of cash and cash equivalents [Text Block]
For the purpose of presentation in the Statement of Cash Flows, cash and cash equivalents includes cash on hand, deposits held at call with
financial institutions, other short-term highly liquid investments with original maturities of three months or less that are readily convertible to
known amounts of cash and which are subject to an insignificant risk of changes in value, and bank over drafts. Bank over drafts are shown with
in borrowings in current liabilities in the Balance Sheet.
Description of accounting policy for earnings per share [Text Block]

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting
preference dividends, if any, and attributable taxes) by the weighted average number of equity shares outstanding during the period.
For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders is adjusted for
after income tax effect of interest and other financing costs associated with dilutive potential equity shares and the weighted average number of
shares outstanding during the period are adjusted for the effects of all dilutive potential equity shares.
79
Description of accounting policy for employee benefits [Text Block]

a) Short-term obligations
Short term employee benefits are recognised as an expense at an undiscounted amount in the Statement of profit & loss of the year in which the
related services are rendered.
b) Post-employment obligations
The Company operates the following post-employment schemes:
- defined benefit plans such as gratuity; and
- defined contribution plans such as provident fund.
Gratuity obligations
The liability or asset recognised in the balance sheet in respect of defined benefit gratuity plans is the present value of the defined benefit
obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by actuaries
using the projected unit credit method.
The present value of the defined benefit obligation denominated in INR is determined by discounting the estimated future cash outflows by
reference to market yields at the end of the reporting period on government bonds that have terms approximating to the terms of the related
obligation.
The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan
assets. This cost is included in employee benefit expense in the statement of profit and loss.
Re-measurement gains and losses arising from experience adjustments and changes in actuarial assumptions are recognised at amount net of taxes
in the period in which they occur, directly in other comprehensive income. They are included in retained earnings in the statement of changes in
equity and in the balance sheet.
Changes in the present value of the defined benefit obligation resulting from plan amendments or curtailments are recognised immediately in
statement of profit or loss as past service cost.
Defined contribution plans
The group pays provident fund contributions to publicly administered provident funds as per local regulations. The group has no further payment
obligations once the contributions have been paid. The contributions are accounted for as defined contribution plans and the contributions are
recognised as employee benefit expense when they are due. Prepaid contributions are recognised as an asset to the extent that a cash refund or a
reduction in the future payments is available.
c) Other long-term employee benefit obligations
The liabilities for leave are not expected to be settled wholly within 12 months after the end of the period in which the employees render the
related service. They are therefore measured as the present value of expected future payments to be made in respect of services provided by
employees up to the end of the reporting period using the projected unit credit method. The benefits are discounted using the market yields at the
end of the reporting period that have terms approximating to the terms of the related obligation. Re-measurements as a result of experience
adjustments and changes in actuarial assumptions are recognised in statement of profit or loss.
80
The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer settlement for at
least twelve months after the reporting period, regardless of when the actual settlement is expected to occur.
Description of accounting policy for fair value measurement [Text Block]

The Company measures financial instruments, such as, derivatives at fair value at each balance sheet date. Fair value is the price that would be
received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value
measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:
a) In the principal market for the asset or liability, or
b) In the absence of a principal market, in the most advantageous market for the asset or liability.
The principal or the most advantageous market must be accessible by the Company.
The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability,
assuming that market participants act in their economic best interest.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy,
described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:
a) Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities.
b) Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly
observable.
c) Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.
For assets and liabilities that are recognised in the financial statements on a recurring basis, the Company determines whether transfers have
occurred between levels in the hierarchy by re-assessing categorisation (based on the lowest level input that is significant to the fair value
measurement as a whole) at the end of each reporting period.
For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the nature, characteristics
and risks of the asset or liability and the level of the fair value hierarchy as explained above.
81
Description of accounting policy for financial instruments [Text Block]

Financial Instruments
A. Financial Assets
(i) Classification
The company classifies its financial assets in the following measurement categories:
a) those to be measured subsequently at fair value (either through other comprehensive income, or through statement of profit or loss), and
b) those measured at amortised cost
The classification depends on the entity's business model for managing the financial assets and the contractual terms of the cash flows.
For assets measured at fair value, gains and losses are either recorded in statement of profit or loss or other comprehensive income. For
investments in equity instruments, this will depend on whether the company has made an irrevocable election at the time of initial recognition to
account for the equity investment at fair value through other comprehensive income.
ii) Measurement
At initial recognition, the company measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit
or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair
value through profit or loss are expensed in statement of profit or loss.
Debt instruments at amortised cost:
A 'debt instrument' is measured at the amortised cost if both the following conditions are met:
a) The asset is held within a business model whose objective is to hold assets for collecting contractual cash flows, and
b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal and interest (SPPI) on the
principal amount outstanding.
After initial measurement, such financial assets are subsequently measured at amortised cost using the effective interest rate (EIR) method.
Amortised cost is calculated by taking into account any discount or premium and fees or costs that are an integral part of the EIR. The EIR
amortisation is included in finance income in the Statement of Profit and Loss. The losses arising from impairment are recognised in the
Statement of Profit and Loss.
For trade receivables or any contractual right to receive cash or another financial asset that result from transactions that are within the scope of Ind
AS 18, the Company always measures the loss allowance at an amount equal to lifetime expected credit losses. Further, for the purpose of
measuring lifetime expected credit loss allowance for trade receivables, the Group has used a practical expedient as permitted under Ind AS 109.
This expected credit loss allowance is computed based on a provision matrix which takes into account historical credit loss experience and
adjusted for forward-looking information. Trade receivables, expected in one year or less, are classified as current assets. If not, they are
presented as non-current assets. Trade receivables are recognised initially at fair value and subsequently measured at amortised cost less provision
for impairment.
Debt instruments included within the fair value through profit and loss (FVTPL) category are measured at fair value with all changes recognized
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in the Statement of Profit and Loss.
Equity instruments:
The company subsequently measures all equity investments at fair value. Dividends from such investments are recognised in statement of profit
or loss as other income when the company's right to receive payments is established.
Changes in the fair value of financial assets at fair value through profit or loss are recognised in other gain/ (losses) in the statement of profit and
loss.
(iii) Derecognition
A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognised (i.e.
removed from the Company's balance sheet) when:
- the rights to receive cash flows from the asset have expired, or
- the Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full
without material delay to a third party under a 'pass-through' arrangement; and either:
a) the Company has transferred substantially all the risks and rewards of the asset, or
b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.
(iv) Impairment of financial assets
The Company assesses on a forward looking basis the expected credit losses associated with its assets carried at amortised cost. The impairment
methodology applied depends on whether there has been a significant increase in credit risk. Note no 38details how the company determines
whether there has been a significant increase in credit risk.
For trade receivables only, the Company applies the simplified approach permitted by Ind AS 109 Financial Instruments, which requires expected
lifetime losses to be recognised from initial recognition of the receivables.
(v) Income recognition
Interest income
Interest income from debt instruments is recognised using the effective interest rate method. The effective interest rate is the rate that exactly
discounts estimated future cash receipts through the expected life of the financial asset to the gross carrying amount of a financial asset. When
calculating the effective interest rate, the company estimates the expected cash flows by considering all the contractual terms of the financial
instrument (for example, prepayment, extension, call and similar options) but does not consider the expected credit losses.
Dividend income
Dividends are recognised in statement of profit or loss only when the right to receive payment is established, it is probable that the economic
benefits associated with the dividend will flow to the Company, and the amount of the dividend can be measured reliably.
B. Financial liabilities
(i) Initial recognition and measurement
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Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables,
financial guarantee contracts or as derivatives designated as hedging instruments in an effective hedge, as appropriate.
All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable
transaction costs.
The Company's financial liabilities include trade and other payables, loans and borrowings including bank overdrafts, financial guarantee
contracts and derivative financial instruments.
(ii) Subsequent measurement
All financial liabilities are subsequently measured at amortised cost using effective interest method or at FVTPL. The subsequent measurement of
financial liabilities depends on their classification, as described below:
Borrowings
Borrowings are initially recognised at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortised cost. Any
difference between the proceeds (net of transaction costs) and the redemption amount is recognised in statement of profit or loss over the period
of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the
loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw down occurs.
Borrowings are removed from the balance sheet when the obligation specified in the contract is discharged, cancelled or expired. The difference
between the carrying amount of a financial liability that has been extinguished and the consideration paid is recognised in statement of profit or
loss as other gains/(losses).
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least 12
months after the reporting period. Where there is a breach of a material provision of a long-term loan arrangement on or before the end of the
reporting period with the effect that the liability becomes payable on demand on the reporting date, the entity does not classify the liability as
current, if the lender agreed, after the reporting period and before the approval of the financial statements for issue, not to demand payment as a
consequence of the breach.
Trade payables
These amounts represent liabilities for goods and services that have been acquired in the ordinary course of business from suppliers. Trade
payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognised initially at
their fair value and subsequently measured at amortised cost using the effective interest method.
Financial guarantee contracts
Financial guarantee contracts issued by the company are those contracts that require a payment to be made to reimburse the holder for a loss it
incurs because the specified debtor fails to make a payment when due in accordance with the terms of a debt instrument. Financial guarantee
contracts are recognised initially as a liability at fair value, adjusted for transaction costs that are directly attributable to the issuance of the
guarantee. Subsequently, the liability is measured at the higher of the amount of loss allowance determined as per impairment requirements of
Ind-AS 109 and the amount recognised less cumulative amortisation.
Foreign exchange gains and losses
For financial liabilities that are denominated in a foreign currency and are measured at amortised cost at the end of each reporting period, the
foreign exchange gains and losses are determined based on the amortised cost of the instruments.
The fair value of financial liabilities denominated in a foreign currency is determined in that foreign currency and translated at the spot rate at the
end of the reporting period.
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Description of accounting policy for financial instruments at fair value through profit or loss [Text Block]
Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial
recognition as at fair value through profit or loss.
Description of accounting policy for foreign currency translation [Text Block]

(i) Functional and presentation currency
The Company's financial statements are prepared in INR, which is also the Company's functional and presentation currency.
(ii) Transactions and balances
Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign
exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities
denominated in foreign currencies at year end exchange rates are generally recognised in statement of profit or loss.
Foreign exchange differences regarded as an adjustment to borrowing costs are presented in the Statement of Profit and Loss, with in finance
costs. All other foreign exchange gains and losses are presented in the Statement of Profit and Loss on a net basis with in other gains / (losses).
Foreign exchange differences on long term foreign currency monetary items, such as Borrowings, solely relating to acquisition of depreciable
assets are adjusted to the carrying cost of the assets. In all other cases, the Company recognises such differences in the statement of profit or loss.
Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the
initial transactions.
Description of accounting policy for impairment of assets [Text Block]

Carrying amount of Tangible and Intangible Assets are tested for impairment whenever events or changes in circumstances indicate that the
carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its
recoverable amount. The recoverable amount is the higher of an asset's fair value less costs of disposal and value in use.
In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current
market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of disposal, recent market
transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used.
For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows which
are largely independent of the cash inflows from other assets or Company's assets (cash-generating units). Non- financial assets that suffered
impairment are reviewed for possible reversal of the impairment at the end of each reporting period.
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Description of accounting policy for income tax [Text Block]

Current Tax
Tax on income for the current period is determined on the basis on estimated taxable income and tax credits computed in accordance with the
provisions of the relevant tax laws and based on the expected outcome of assessments / appeals.
Current tax are recognised in statement of profit or loss, except when they relate to items that are recognised in other comprehensive income or
directly in equity, in which case, the current tax are also recognised in other comprehensive income or directly in equity respectively. Where
current tax arises from the initial accounting for a business combination, the tax effect is included in the accounting for the business combination.
Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to
interpretation and establishes provisions where appropriate.
Description of accounting policy for intangible assets other than goodwill [Text Block]
Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible assets are carried at cost
less any accumulated amortisation and accumulated impairment losses. Internally generated intangibles are not capitalised and the related
expenditure is reflected in the Statement of Profit or Loss in the period in which the expenditure is incurred.
Cost of Software directly identified with hardware is capitalised along with the cost of hardware. Application software is capitalised as Intangible
Asset.
Intangible assets with finite lives are amortised on straight line basis over their useful economic life and assessed for impairment whenever there
is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a
finite useful life are reviewed at each year end. The amortisation expense on intangible assets with finite lives and impairment loss is recognised
in the Statement of Profit and Loss.
Estimated lives for current and comparative periods in relation to application of straight line method of amortisation of intangible assets
(acquired) are as follows:
Assets Useful life of asset
Software 5 years
An intangible asset is derecognised on disposal, or when no future economic benefits are expected from use or disposal. Gains or losses arising
from de-recognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset, are
recognised in statement of profit or loss when the asset is derecognised.
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Description of accounting policy for leases [Text Block]

The determination of whether an arrangement is, or contains, a lease is based on the substance of the arrangement at the inception date, whether
fulfilment of the arrangement is dependent on the use of a specific asset or assets or the arrangement conveys a right to use the asset, even if that
right is not explicitly specified in an arrangement.
As a lessee
Leases where the company, as lessee, has substantially all the risks and rewards incidental to ownership are classified as finance leases. Finance
leases are capitalised at the lease's inception at the fair value of the leased property or, if lower, the present value of the minimum lease payments.
The corresponding rental obligations, net of finance charges, are included in borrowings or other financial liabilities as appropriate. Each lease
payment is allocated between the liability and finance cost. The finance cost is charged to the statement of profit or loss over the lease period so
as to produce a constant periodic rate of interest on the remaining balance of the liability for each period.
Leases in which a significant portion of the risks and rewards of ownership are not transferred to the company as lessee are classified as operating
leases. Payments made under operating leases (net of any incentives received from the lessor) are charged to statement of profit or loss on a
straight-line basis over the period of the lease unless the payments are structured to increase in line with expected general inflation to compensate
for the lessor's expected inflationary cost increases.
As a lessor
Lease income from operating leases where the company is a lessor is recognised in income on a straight-line basis over the lease term unless the
receipts are structured to increase in line with expected general inflation to compensate for the expected inflationary cost increases. The respective
leased assets are included in the balance sheet based on their nature.
Description of accounting policy for measuring inventories [Text Block]

Raw materials, stores and spares are valued at lower of cost and net realizable value. However, materials and other items held for use in the
production of inventories are not written down below cost if the finished products in which they will be incorporated are expected to be sold at or
above cost. Cost of raw materials, components and stores and spares is determined on a weighted average basis.
Work-in-progress and finished goods are valued at lower of cost and net realizable value. Cost includes direct materials, labour, other direct cost
and aproportion of manufacturing over heads based on normal operating capacity. Cost of finished goods includes excise duty and is determined
on a weighted average basis. Excise duty is accounted for at the point of manufacture of goods and accordingly, is considered for valuation of
finished goods stock lying in the factories and depots as on the Balance Sheet date.
Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and estimated costs
necessary to make the sale.
Description of accounting policy for offsetting of financial instruments [Text Block]

Financial assets and liabilities are offset and the net amount is reported in the balance sheet where there is a legally enforceable right to offset the
recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously. The legally
enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default,
insolvency or bankruptcy of the group or the counterparty.
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Description of accounting policy for property, plant and equipment [Text Block]
Property, plant and equipment are stated at historical cost, less accumulated depreciation and accumulated impairment losses. The initial cost of
an asset comprises its purchase price or construction cost, any costs directly attributable to bringing the asset into the location and condition
necessary for it to be capable of operating in the manner intended by management, the initial estimate of any decommissioning obligation, if any,
and, for assets that necessarily take a substantial period of time to get ready for their intended use, finance costs. The purchase price or
construction cost is the aggregate amount paid and the fair value of any other consideration given to acquire the asset.
When significant parts of plant and equipment are required to be replaced at intervals, the Company depreciates them separately based on their
specific useful lives. Likewise, when a major inspection is performed, its cost is recognised in the carrying amount of the plant and equipment as
a replacement if the recognition criteria are satisfied. All other repair and maintenance costs are recognised in Statement of Profit or Loss as
incurred.
An item of property, plant and equipment and any significant part initially recognised is derecognised upon disposal or when no future economic
benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net
realisable value and the carrying amount of the asset) is included in the Statement of Profit and Loss when the asset is derecognised.
The residual values and useful lives of property, plant and equipment are reviewed at each financial year end and changes, if any, are accounted
prospectively. Free hold Land is not depreciated. Lease arrangements for land are identified as finance lease in case such arrangements result in
transfer of the related risks and rewards to the Company. Stores and Spares which meet the definition of property plant and equipment and satisfy
the recognition criteria of Ind AS 16 are capitalized as property, plant and equipment.
Depreciation on Property, Plant & Equipment is provided on straight line method. The Company has adopted the useful lives and residual value
as prescribed in Schedule II of Companies Act, 2013, as indicated below:
Assets Useful life of asset
Buildings - Other than Factory Buildings 60 years
Factory Buildings 30 years
Plant and Machinery (including Railway Sidings and Electrical Installations) 8 years to 40 years
Computers 3 years to 6 years
Furniture 10 years
Office Equipment 5 years
Vehicles 8 years
Depreciation on stores and spares specific to an item of property, plant and equipment is based on life of the related property, plant and
equipment.
In line with the provisions of Schedule II of the Companies Act 2013, the Company depreciates significant components of the main asset (which
have different useful lives as compared to the main asset) based on the individual useful life of those components.
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Description of accounting policy for recognition of revenue [Text Block]

Sale of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually
on delivery of the goods at which time all of the following conditions are satisfied:
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the
goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the Company; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from the sale of goods is measured at the fair value of the consideration received or receivable. Amounts disclosed as revenue are
inclusive of excise duty and net of returns and allowances, trade discounts and volume rebates but does not include Value added tax (VAT) and
Central Sales tax (CST).
The Company has assumed that recovery of excise duty flows to the Company on its own account. This is for the reason that it is liability of the
manufacturer which forms part of the cost of production, irrespective of whether the goods are sold or not. Since the recovery of excise duty flows
to the Company on its own account, revenue includes excise duty.
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Description of other accounting policies relevant to understanding of financial statements [Text Block]
- Share Capital
Ordinary shares are classified as equity.
Incremental costs directly attributable to the issue of new ordinary shares are shown in equity as a deduction, net of tax, from the proceeds.
- First-time adoption-mandatory exceptions, optional exemptions
Over all principle
Company has prepared the opening Balance Sheet as per Ind AS as of April 01, 2015 (the transition date) by recognising all assets and liabilities
whose recognition is required by Ind AS, not recognising items of assets or liabilities which are not permitted by lnd AS, by reclassifying items
from previous GAAP to Ind AS as required under Ind AS, and applying Ind AS in measurement of recognised assets and liabilities. However, this
principle is subject to the certain exceptions and certain optional exemptions availed by the Company as detailed below.
Derecognition of financial assets and financial liabilities
The Company has applied the derecognition requirements of financial assets and financial liabilities prospectively for transactions occurring on or
after the transition date.
Classification of debt instruments
The Company has determined the classification of debt instruments in terms of whether they meet the amortised cost criteria or the FVTOCI
criteria based on the facts and circumstances that existed as of the transition date.
Classification and measurement of financial assets
Classification and measurement of financial assets shall be made on the basis of the facts and circumstances that exist at the date of transition to
Ind AS. The Company has evaluated the facts and circumstances existing on the date of transition to Ind AS for the purpose of classification and
measurement of financial assets and accordingly has classified and measured financial assets on the date of transition.
Impairment of Financial Assets
The Company has applied the impairment requirements of Ind AS 109 retrospectively; however as permitted by Ind AS 101, it has used
reasonable and supportable information that is available without undue cost or effort to determine the credit risk at the date that financial
instruments were initially recognised in order to compare it with the credit risk at the transition date, Further , the Company has not undertaken an
exhaustive search for information when determining, at the date of transition to Ind ASs, whether there have been significant increases in credit
risk since initial recognition, as permitted by lnd AS 101.
Past business combinations
The Company has elected not to apply Ind AS 103 Business Combinations retrospectively to past business combinations that occurred before the
transition date of April, 2015. Consequently, the Company has kept the same classification for the past business combinations as in its previous
GAAP financial statements;
The Company has not recognised assets and liabilities that were not recognised in accordance with previous GAAP in the Balance Sheet of the
acquirer and would also not qualify for recognition in accordance with Ind AS in the Balance Sheet of the acquire;
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The Company has excluded from its opening Balance Sheet those items recognised in accordance with previous GAAP that do not qualify for
recognition as an asset or liability under lnd AS;
Deemed cost for property, plant and equipment, and intangible assets
The Company has elected to continue with the carrying value of all of its property, plant and equipment, and intangible assets recognised as of the
transition date measured as per the previous GAAP and use that carrying value as its deemed cost as of the transition date.
Determining whether an arrangement contains a lease
The Company has applied Appendix C of Ind AS 17 determining whether an arrangement contains a lease to determine whether an arrangement
existing at the transition date contains a lease on the basis of facts and circumstances existing at that date.
No changes made to estimates made in accordance with Previous GAAP
An entity's estimates in accordance with Ind AS at the date of transition to Ind AS shall be consistent with estimates made for the same date in
accordance with previous GAAP (after adjustments to reflect any difference in accounting policies), unless there is an objective evidence that
those estimates were in error. The Company has not made any changes to estimates made in accordance with Previous GAAP.
- Principal adjustments made to Previous GAAP financial statements as required under Ind AS -
In addition to the above, the principal adjustments made by the Company in restating its previous GAAP financial statements, including the
Balance Sheet as at 1st April, 2015 and the financial statements as at and for the year ended 31st March, 2016 are detailed below:
1. Under previous GAAP, leasehold land was presented as fixed assets and amortized over the estimated useful life of the lease. Under Ind AS,
such land has been classified as prepayments within non-current assets (current portion presented as other current assets) and have been amortized
over the period of the lease, resulting in decrease in property, plant and equipment by Rs. 13,711 ('000) as at 31st March, 2016 and corresponding
increase in other non-current assets by Rs. 13,262 ('000) as at 31st March, 2016 and in other current assets by Rs. 448 ('000) as at 31st March,
2016. Such reclassification has resulted in decrease in depreciation expense by Rs. 448 ('000) for the year ended 31st March, 2016 and
corresponding increase in other expenses, but does not affect net loss for the year ended 31st March, 2016.
2. Under previous GAAP, non-current investments were stated at cost. Where applicable, it was assessed for provision to recognise a decline,
other than temporary, in valuation of such investments. Under Ind AS, such equity instruments have been classified as Fair Value through Other
Comprehensive Income (FVTOCI) through an irrevocable election at the date of transition (also refer Note 37C on fair value hierarchy).
3. The Company uses derivative financial instruments, such as currency forwards, and cross currency swaps, to hedge its foreign currency risks.
Under previous GAAP, the net mark to market losses on the outstanding portfolios of such forward contract instruments were recognised in the
profit or loss, and the net gain, if any, were ignored. No adjustment was done for Cross Currency Swaps as the same was not specifically required
under the Previous GAAP. Under Ind AS, changes in the fair value of derivatives are not designated as cash flow hedges and accordingly the
swap arrangement is marked to market at the end of every year and losses / (gains) are recognised in the statement of profit or loss.
4. Under previous GAAP, actuarial gains and losses related to the defined benefit schemes for gratuity were recognised in profit or loss. Under
Ind AS, the actuarial gains and losses form part of remeasurement of the net defined benefit liability / asset which is recognised in OCI. The tax
expense of the Company being NIL, and also as the Company has restricted the recognition of deferred tax asset due to the lack of estimated
sufficient future taxable profit, the tax effect of actuarial gains and losses has not been recognised in OCI.
5. Under previous GAAP, movements in overdraft facilities, repayable on demand, were reflected in cash flows from financing activities in cash
flow statement. Under Ind AS, such facilities are included in cash and cash equivalents in the cash flow statement.
6. Under previous GAAP, non-cumulative redeemable preference shares have been disclosed under Share Capital. Under Ind AS, such shares are
included as a part of Non-current Borrowings at amortised cost as the same is in the nature of a long term debt.
7. Under the previous GAAP, revaluation reserve was shown under Reserves and Surplus from the year 2012-13 pertaining to revaluation of
certain Freehold Land and Plant and Machinery aggregating to Rs. 874,332('000). Under Ind AS, as the Company has elected to continue with the
carrying cost of property, plant and equipment as the deemed cost, the balance of revaluation reserve has been adjusted in Retained Earnings.
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8. Under the previous GAAP, financial liabilities such as long term borrowings including interest free loan from director; and non-cumulative
redeemable preference shares were carried at their transaction cost. As per the accounting policy adopted for borrowings under Ind AS, these
balances are retrospectively recognised at fair value, net of transaction costs incurred, with the impact being considered under Other Equity and
Retained Earnings, as applicable. Such borrowings are subsequently carried at amortised cost.
9. Interest free security deposits paid are carried at transaction costs as per the previous GAAP. As required under Ind AS 109, Financial
Instruments, in certain cases where the business model is to hold the related leased properties for more than 1 year, such security deposits are
discounted and shown at their present value at the time of its initial recognition. These fair valued deposit amounts are subsequently accounted as
income using discount rate which was used for discounting initially, and lease prepayments are released to statement of profit or loss on straight
line basis.
[610200] Notes - Corporate information and statement of IndAs compliance

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of corporate information notes and other explanatory information Textual information (58)
Statement of Ind AS compliance [TextBlock] As per report As per report
Whether there is any departure from Ind AS No No

Whether there are reclassifications to comparative amounts No No
As stated below:
Disclosure of significant accounting policies [TextBlock]
Explanation of measurement bases used in preparing financial Textual information (59)

statements [TextBlock] [See below]
Description of other accounting policies relevant to Textual information (60)
understanding of financial statements [TextBlock] [See below]
Disclosure of objectives, policies and processes for managing capital Textual information (61)
Disclosure of corporate information notes and other explanatory information [Text Block]
Gerdau Steel India Private Limited (earlier known by various names such as Gerdau Steel India Limited, Kalyani Gerdau Steels Limited, SJK
Steel Corporation Limited, Tadipatri Metal India Limited and Sujana Metal India Limited) was incorporated on 16th March, 1993. The ultimate
holding company is Gerdau S.A., incorporated in Brazil. The steel plant is situated at Tadipatri, Andhra Pradesh, and has an installed capacity of
300,000 tons of special steel per year, mainly focused on automotive, defence, railways and related industries.
Consequent to the conversion of the Company into a Private Limited Company, effective 11thFebruary, 2016, the name of the Company has been
changed from 'Gerdau Steel India Limited' to 'Gerdau Steel India Private Limited'.
During the year ended 31stMarch, 2017, the Company has incurred a net loss of Rs. 6,61,567('000) and has increased its accumulated losses to
Rs. 1,91,72,703('000) as at 31stMarch, 2017. The accumulated losses of the Company exceed fifty percent of its net worth as at 31stMarch, 2017.
Even though the Company incurred cash loss it was able to generate positive operating cash flows in the financial year ended on that date. During
the year, the Company has improved its gross margin substantially due to better product mix and the Company witnessed marginal increase in the
revenues. The Company, post 31st March, 2017, has commissioned the Pulverizing Coke Injection (PCI) system through which it plans to reduce
hot metal cost and thus reduce the cost of production. Considering the Company's business plan, and a letter of support from holding company to
support the company to meet its obligations as and when they fall due, the financial statements have been prepared on a "going concern" basis.
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Explanation of measurement bases used in preparing financial statements [Text Block]

2.1 Basis of Preparation
These financial statements have been prepared in accordance with the Indian Accounting Standards (hereinafter referred to as the 'Ind AS') as
notified by Ministry of Corporate Affairs pursuant to section 133 of the Companies Act, 2013 read with rule 3 of the Companies (Indian
Accounting standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016.
The financial statements for the year ended 31st March, 2017 are the first financial statements prepared by the Company under Ind AS. For all
periods upto and including the year ended 31st March, 2016, the Company prepared its financial statements in accordance with the accounting
standards notified under the section 133 of the Companies Act 2013, read together with paragraph 7 of the Companies (Accounts) Rules, 2014
(hereinafter referred to as 'Previous GAAP') used for its statutory reporting requirement in India immediately before adopting Ind AS. The
financial statements for the year ended 31st March, 2016, and the opening Balance Sheet as at 1stApril, 2015, have been restated in accordance
with Ind AS for comparative information. Reconciliations and explanations of the effect of transition from Previous GAAP to Ind AS on the
Company's Balance Sheet, Statement of Profit and Loss and Statement of Cash Flows are provided in Notes 29 to 35.
The financial statements have been prepared on accrual and going concern basis. The accounting policies are applied consistently to all the
periods presented in the financial statements, including the preparation of the opening Ind AS Balance Sheet as at 1st April, 2015 being the 'date
of transition to Ind AS'. All assets and liabilities have been classified as current or non-current as per the Company's normal operating cycle and
other criteria set out in the Division II of Schedule III to the Companies Act, 2013. Based on the nature of products and the time between
acquisition of assets for processing and their realisation in cash and cash equivalents, the Company has ascertained its operating cycle as 12
months for the purpose of current or non-current classification of assets and liabilities.
All amounts disclosed in the financial statements and notes have been rounded off to the nearest thousands, except where otherwise indicated.
Transactions and balances with values below such rounding off norm have been reflected as "0" in the relevant notes in these financial statements.
The financial statements of the Company for the year ended 31stMarch 2017 were approved for issue in accordance with the resolution of the
Board of Directors on 11th August, 2017.
2.2 Basis of Measurement
Thefinancialstatementshavebeenpreparedonahistoricalcostbasis,except for the following:
a) Certain financial assets and liabilities (including derivative instruments) are measured at fair value;
b) Defined benefit plans -plan assets measured at fair value;
c) Certain Property, Plant and Equipment carried at revalued amounts under Previous GAAP, and certain Property, Plant and Equipment carried
at estimated values adopted by the management in earlier years have been considered as deemed cost.
2.3 Use of judgments, estimates & assumptions
While preparing financial statements in conformity with Ind AS, the Company makes certain estimates and assumptions that require subjective
and complex judgments. These judgments affect the application of accounting policies and the reported amount of assets, liabilities, income and
expenses, disclosure of contingent liabilities at the statement of financial position date and the reported amount of income and expenses for the
reporting period. Financial reporting results rely on the estimate of the effect of certain matters that are inherently uncertain. Future events rarely
develop exactly as forecast and the best estimates require adjustments, as actual results may differ from these estimates under different
assumptions or conditions. Estimates and Judgments are continually evaluated and are based on historical experience and other factors, including
expectation of future events that are believed to be reasonable under the circumstances.
Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. In particular,
information about significant areas of estimation uncertainty and critical judgments in applying accounting policies that have the most significant
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effect on the amounts recognized in the financial statements are as below:
a) Fair value of Financial Assets and Financial liabilities;
b) The useful lives of, or expected pattern of consumption of the future economic benefits embodied in, depreciable assets;
c) Valuation of inventories and Inventory obsolescence;
d) Measurement of recoverable amounts of cash-generating units;
e) Assets and obligations relating to employee benefits;
f) Provisions and Bad Debts;
g) Evaluation of recoverability of deferred tax assets; and
h) Contingencies.
2.4 Key accounting developments
In March 2017, the Ministry of Corporate Affairs issued the Companies (Indian Accounting Standards) (Amendments) Rules, 2017, notifying
amendments to Ind AS 7, 'Statement of cash flows' and Ind AS 102, 'Share-based payment.' The amendment to Ind AS 7 is applicable to the
Company from 1st April, 2017, which requires the Company to provide disclosures that enable users of financial statements to evaluate changes
in liabilities arising from financing activities, including both changes arising from cash flows and non-cash changes, suggesting inclusion of a
reconciliation between the opening and closing balances in the balance sheet for liabilities arising from financing activities, to meet the disclosure
requirement.
The effect on the financial statements is presently being evaluated by the company.
94
Description of other accounting policies relevant to understanding of financial statements [Text Block]
- Share Capital
Ordinary shares are classified as equity.
Incremental costs directly attributable to the issue of new ordinary shares are shown in equity as a deduction, net of tax, from the proceeds.
- First-time adoption-mandatory exceptions, optional exemptions
Over all principle
Company has prepared the opening Balance Sheet as per Ind AS as of April 01, 2015 (the transition date) by recognising all assets and liabilities
whose recognition is required by Ind AS, not recognising items of assets or liabilities which are not permitted by lnd AS, by reclassifying items
from previous GAAP to Ind AS as required under Ind AS, and applying Ind AS in measurement of recognised assets and liabilities. However, this
principle is subject to the certain exceptions and certain optional exemptions availed by the Company as detailed below.
Derecognition of financial assets and financial liabilities
The Company has applied the derecognition requirements of financial assets and financial liabilities prospectively for transactions occurring on or
after the transition date.
Classification of debt instruments
The Company has determined the classification of debt instruments in terms of whether they meet the amortised cost criteria or the FVTOCI
criteria based on the facts and circumstances that existed as of the transition date.
Classification and measurement of financial assets
Classification and measurement of financial assets shall be made on the basis of the facts and circumstances that exist at the date of transition to
Ind AS. The Company has evaluated the facts and circumstances existing on the date of transition to Ind AS for the purpose of classification and
measurement of financial assets and accordingly has classified and measured financial assets on the date of transition.
Impairment of Financial Assets
The Company has applied the impairment requirements of Ind AS 109 retrospectively; however as permitted by Ind AS 101, it has used
reasonable and supportable information that is available without undue cost or effort to determine the credit risk at the date that financial
instruments were initially recognised in order to compare it with the credit risk at the transition date, Further , the Company has not undertaken an
exhaustive search for information when determining, at the date of transition to Ind ASs, whether there have been significant increases in credit
risk since initial recognition, as permitted by lnd AS 101.
Past business combinations
The Company has elected not to apply Ind AS 103 Business Combinations retrospectively to past business combinations that occurred before the
transition date of April, 2015. Consequently, the Company has kept the same classification for the past business combinations as in its previous
GAAP financial statements;
The Company has not recognised assets and liabilities that were not recognised in accordance with previous GAAP in the Balance Sheet of the
acquirer and would also not qualify for recognition in accordance with Ind AS in the Balance Sheet of the acquire;
95
The Company has excluded from its opening Balance Sheet those items recognised in accordance with previous GAAP that do not qualify for
recognition as an asset or liability under lnd AS;
Deemed cost for property, plant and equipment, and intangible assets
The Company has elected to continue with the carrying value of all of its property, plant and equipment, and intangible assets recognised as of the
transition date measured as per the previous GAAP and use that carrying value as its deemed cost as of the transition date.
Determining whether an arrangement contains a lease
The Company has applied Appendix C of Ind AS 17 determining whether an arrangement contains a lease to determine whether an arrangement
existing at the transition date contains a lease on the basis of facts and circumstances existing at that date.
No changes made to estimates made in accordance with Previous GAAP
An entity's estimates in accordance with Ind AS at the date of transition to Ind AS shall be consistent with estimates made for the same date in
accordance with previous GAAP (after adjustments to reflect any difference in accounting policies), unless there is an objective evidence that
those estimates were in error. The Company has not made any changes to estimates made in accordance with Previous GAAP.
- Principal adjustments made to Previous GAAP financial statements as required under Ind AS -
In addition to the above, the principal adjustments made by the Company in restating its previous GAAP financial statements, including the
Balance Sheet as at 1st April, 2015 and the financial statements as at and for the year ended 31st March, 2016 are detailed below:
1. Under previous GAAP, leasehold land was presented as fixed assets and amortized over the estimated useful life of the lease. Under Ind AS,
such land has been classified as prepayments within non-current assets (current portion presented as other current assets) and have been amortized
over the period of the lease, resulting in decrease in property, plant and equipment by Rs. 13,711 ('000) as at 31st March, 2016 and corresponding
increase in other non-current assets by Rs. 13,262 ('000) as at 31st March, 2016 and in other current assets by Rs. 448 ('000) as at 31st March,
2016. Such reclassification has resulted in decrease in depreciation expense by Rs. 448 ('000) for the year ended 31st March, 2016 and
corresponding increase in other expenses, but does not affect net loss for the year ended 31st March, 2016.
2. Under previous GAAP, non-current investments were stated at cost. Where applicable, it was assessed for provision to recognise a decline,
other than temporary, in valuation of such investments. Under Ind AS, such equity instruments have been classified as Fair Value through Other
Comprehensive Income (FVTOCI) through an irrevocable election at the date of transition (also refer Note 37C on fair value hierarchy).
3. The Company uses derivative financial instruments, such as currency forwards, and cross currency swaps, to hedge its foreign currency risks.
Under previous GAAP, the net mark to market losses on the outstanding portfolios of such forward contract instruments were recognised in the
profit or loss, and the net gain, if any, were ignored. No adjustment was done for Cross Currency Swaps as the same was not specifically required
under the Previous GAAP. Under Ind AS, changes in the fair value of derivatives are not designated as cash flow hedges and accordingly the
swap arrangement is marked to market at the end of every year and losses / (gains) are recognised in the statement of profit or loss.
4. Under previous GAAP, actuarial gains and losses related to the defined benefit schemes for gratuity were recognised in profit or loss. Under
Ind AS, the actuarial gains and losses form part of remeasurement of the net defined benefit liability / asset which is recognised in OCI. The tax
expense of the Company being NIL, and also as the Company has restricted the recognition of deferred tax asset due to the lack of estimated
sufficient future taxable profit, the tax effect of actuarial gains and losses has not been recognised in OCI.
5. Under previous GAAP, movements in overdraft facilities, repayable on demand, were reflected in cash flows from financing activities in cash
flow statement. Under Ind AS, such facilities are included in cash and cash equivalents in the cash flow statement.
6. Under previous GAAP, non-cumulative redeemable preference shares have been disclosed under Share Capital. Under Ind AS, such shares are
included as a part of Non-current Borrowings at amortised cost as the same is in the nature of a long term debt.
7. Under the previous GAAP, revaluation reserve was shown under Reserves and Surplus from the year 2012-13 pertaining to revaluation of
certain Freehold Land and Plant and Machinery aggregating to Rs. 874,332('000). Under Ind AS, as the Company has elected to continue with the
carrying cost of property, plant and equipment as the deemed cost, the balance of revaluation reserve has been adjusted in Retained Earnings.
96
8. Under the previous GAAP, financial liabilities such as long term borrowings including interest free loan from director; and non-cumulative
redeemable preference shares were carried at their transaction cost. As per the accounting policy adopted for borrowings under Ind AS, these
balances are retrospectively recognised at fair value, net of transaction costs incurred, with the impact being considered under Other Equity and
Retained Earnings, as applicable. Such borrowings are subsequently carried at amortised cost.
9. Interest free security deposits paid are carried at transaction costs as per the previous GAAP. As required under Ind AS 109, Financial
Instruments, in certain cases where the business model is to hold the related leased properties for more than 1 year, such security deposits are
discounted and shown at their present value at the time of its initial recognition. These fair valued deposit amounts are subsequently accounted as
income using discount rate which was used for discounting initially, and lease prepayments are released to statement of profit or loss on straight
line basis.
97
Disclosure of objectives, policies and processes for managing capital [Text Block]
Capital management
Risk management
The company's objectives when managing capital are to
(i) Safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other
stakeholders, and
(ii) Maintain an optimal capital structure to reduce the cost of capital.
Consistent with others in the industry, the group monitors capital on the basis of the following gearing ratio:
Net debt (total borrowings net of cash and cash equivalents)
divided by
Total 'equity' (as shown in the balance sheet).
The gearing ratios were as follows :
Particulars As at March 31,
2017 2016 2015
Borrowings 10,851,990 10,092,995 9,118,119
Less:
Cash and Cash equivalents 29,895 106,505 166,225
Net debt 10,822,095 9,986,490 8,951,894
Total equity 7,739,622 8,395,364 9,335,499
Net debt to equity ratio 1.40 1.19 0.96
Note:
For the purpose of the company's capital management, Borrowing includes short term borrowing, long term borrowings, interest free loans (Loan
from director) and Preference capital treated as debt. Equity includes equity share capital, security premium and accumalated losses but excludes
capital reserves.
98
[610300] Notes - Accounting policies, changes in accounting estimates and errors

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of changes in accounting policies, accounting estimates and errors
[TextBlock]
Disclosure of initial application of standards or interpretations
[TextBlock]
Whether initial application of an Ind AS has an effect on the
No No
current period or any prior period
Disclosure of voluntary change in accounting policy [TextBlock]
Whether there is any voluntary change in accounting policy No No
Disclosure of changes in accounting estimates [TextBlock]
Whether there are changes in acounting estimates during the year No No
99
[400600] Notes - Property, plant and equipment
Disclosure of detailed information about property, plant and equipment [Table] ..(1)
Classes of property, plant and equipment [Axis] Property, plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying amount Gross carrying
Carrying amount [Member]
[Axis] amount [Member]
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 2,62,166 50,81,388 2,62,166
equipment
Acquisitions through business
combinations, property, plant and 0 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-9,21,511 -8,18,734
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
-9,21,511 -8,18,734
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Revaluation increase (decrease),
0 0 0
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 7,062 12,631 9,424
equipment
Total increase (decrease) through
transfers and other changes, property, 7,062 12,631 9,424
plant and equipment
Disposals and retirements, property,
Disposals, property, plant and
48 0 48
equipment
100
Retirements, property, plant and

18,417 0 18,417
equipment
Total disposals and retirements,
18,465 0 18,465
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment
Total increase (decrease) in property,
-6,70,748 42,75,285 2,53,125
plant and equipment
Property, plant and equipment at end of
1,47,99,778 1,54,70,526 1,11,95,241 1,65,32,779
period
101
Classes of property, plant and equipment [Axis] Property, plant and equipment [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
[Abstract]
combinations, property, plant and 50,81,388
equipment
combinations, property, plant and 0
equipment
exchange differences, property, 0
plant and equipment
9,21,511 8,18,734
loss
0 0
9,21,511 8,18,734
equipment
equipment
0
equipment
plant and equipment
equipment
changes, property, plant and 3,025 2,362 -9,606
equipment
transfers and other changes, property, 3,025 2,362 -9,606
plant and equipment
0 0 0
equipment
0 0 0
equipment
0 0 0
102

equipment
equipment
50,84,413 9,23,873 8,09,128
plant and equipment
1,62,79,654 1,11,95,241 17,33,001 8,09,128
period
103
Property, plant and
Classes of property, plant and equipment [Axis] equipment Land [Member]
[Member]
Owned and leased
assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying amount depreciation and
[Axis] impairment
[Member]
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
[Abstract]
combinations, property, plant and 0 6,117
equipment
combinations, property, plant and 0 0
equipment
exchange differences, property, 0 0
plant and equipment
0 0
loss
0 0
0 0
equipment
equipment
0 0
equipment
plant and equipment
transfers, property, plant and 0 0
equipment
changes, property, plant and 0 0
equipment
transfers and other changes, property, 0 0
plant and equipment
0 0
equipment
104

0 0
equipment
0 0
for sale, property, plant and 0 0
equipment
subsidiary, property, plant and 0 0
equipment
0 6,117
plant and equipment
0 8,51,967 8,51,967 8,45,850
period
105
Classes of property, plant and equipment [Axis] Land [Member]
Accumulated
[Axis] impairment
[Member]
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
[Abstract]
equipment
equipment
plant and equipment
0
loss
0
0
equipment
or loss, property, plant and 0
equipment
recognised in profit or loss, 0
0 0
comprehensive income, property, plant and 0
equipment
in other comprehensive income, property, 0
plant and equipment
equipment
changes, property, plant and 0 0 0
equipment
transfers and other changes, property, 0 0 0
plant and equipment
0 0 0
equipment
0 0 0
equipment
0 0 0
106

equipment
equipment
0 6,117 0
plant and equipment
8,51,967 8,51,967 8,45,850 0
period
107
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned assets [Member]
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
[Abstract]
equipment
equipment
plant and equipment
0 0 0
loss
0 0 0
0 0 0
equipment
or loss, property, plant and 0 0 0
equipment
recognised in profit or loss, 0 0 0
0 0
comprehensive income, property, plant and 0 0 0
equipment
in other comprehensive income, property, 0 0 0
plant and equipment
equipment
equipment
plant and equipment
0 0 0
equipment
0 0 0
equipment
0 0 0
108

equipment
equipment
0 0 6,117
plant and equipment
0 0 8,51,967 8,51,967
period
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying amount Carrying amount
[Axis] [Member]
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
[Abstract]
equipment
equipment
plant and equipment
0 0
equipment
equipment
plant and equipment
0 0
equipment
0 0
equipment
0 0
equipment
equipment
0 6,117
plant and equipment
8,45,850 8,51,967 8,51,967 8,45,850
period
109
Buildings
[Member]
Owned and leased
assets [Member]
Accumulated depreciation and impairment [Member]
[Axis] [Member]
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
[Abstract]
combinations, property, plant and 28,006
equipment
equipment
plant and equipment
0 0 -1,40,487
loss
0 0 0
0 0 -1,40,487
equipment
equipment
0
equipment
plant and equipment
equipment
changes, property, plant and 0 0 1,372
equipment
transfers and other changes, property, 0 0 1,372
plant and equipment
0 0 0
equipment
0 0 0
equipment
0 0 0
110

equipment
equipment
0 0 -1,11,109
plant and equipment
0 0 0 36,50,448
period
111
Classes of property, plant and equipment [Axis] Buildings [Member]
Carrying amount accumulated depreciation and gross carrying
Carrying amount [Member] Gross carrying amount [Member]
amount [Axis]
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
[Abstract]
combinations, property, plant and 14,55,986 28,006 14,55,986
equipment
equipment
plant and equipment
-1,21,403
loss
0
-1,21,403
equipment
equipment
0 0 0
equipment
plant and equipment
equipment
changes, property, plant and 0 2,927 0
equipment
transfers and other changes, property, 0 2,927 0
plant and equipment
0 0 0
equipment
0 0 0
equipment
0 0 0
112

equipment
equipment
13,34,583 30,933 14,55,986
plant and equipment
37,61,557 24,26,974 39,13,893 38,82,960
period
113
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
[Abstract]
1,40,487 1,21,403
loss
0 0
1,40,487 1,21,403
equipment
equipment
equipment
plant and equipment
equipment
changes, property, plant and 1,555 0
equipment
transfers and other changes, property, 1,555 0
plant and equipment
0 0
equipment
0 0
equipment
0 0
equipment
equipment
1,42,042 1,21,403
plant and equipment
24,26,974 2,63,445 1,21,403 0
period
114
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
[Abstract]
combinations, property, plant and 28,006 14,55,986 28,006
equipment
equipment
plant and equipment
-1,40,487 -1,21,403
loss
0 0
-1,40,487 -1,21,403
equipment
equipment
0 0 0
equipment
plant and equipment
equipment
changes, property, plant and 1,372 0 2,927
equipment
transfers and other changes, property, 1,372 0 2,927
plant and equipment
0 0 0
equipment
0 0 0
equipment
0 0 0
115

equipment
equipment
-1,11,109 13,34,583 30,933
plant and equipment
36,50,448 37,61,557 24,26,974 39,13,893
period
116
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
[Abstract]
equipment
equipment
plant and equipment
1,40,487 1,21,403
loss
0 0
1,40,487 1,21,403
equipment
equipment
0
equipment
plant and equipment
equipment
equipment
plant and equipment
0 0 0
equipment
0 0 0
equipment
0 0 0
117

equipment
equipment
14,55,986 1,42,042 1,21,403
plant and equipment
38,82,960 24,26,974 2,63,445 1,21,403
period
118
Buildings
Classes of property, plant and equipment [Axis] Factory building [Member]
[Member]
Owned assets
[Member]
Accumulated
[Axis] impairment
[Member]
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
[Abstract]
combinations, property, plant and 28,006 14,55,986
equipment
equipment
plant and equipment
-1,40,487 -1,21,403
loss
0 0
-1,40,487 -1,21,403
equipment
equipment
0 0
equipment
plant and equipment
equipment
equipment
plant and equipment
0 0
equipment
0 0
equipment
119

0 0
equipment
equipment
-1,11,109 13,34,583
plant and equipment
0 36,50,448 37,61,557 24,26,974
period
120
Accumulated
[Axis] impairment
[Member]
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
[Abstract]
equipment
equipment
plant and equipment
1,40,487
loss
0
1,40,487
equipment
equipment
0 0
equipment
plant and equipment
equipment
equipment
plant and equipment
0 0 0
equipment
0 0 0
equipment
0 0 0
121

equipment
equipment
30,933 14,55,986 1,42,042
plant and equipment
39,13,893 38,82,960 24,26,974 2,63,445
period
122
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
[Abstract]
equipment
equipment
plant and equipment
1,21,403 -1,40,487 -1,21,403
loss
0 0 0
1,21,403 -1,40,487 -1,21,403
equipment
equipment
0 0
equipment
plant and equipment
equipment
equipment
plant and equipment
0 0 0
equipment
0 0 0
equipment
0 0 0
123

equipment
equipment
1,21,403 -1,11,109 13,34,583
plant and equipment
1,21,403 0 36,50,448 37,61,557
period
[Axis] [Member]
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
[Abstract]
equipment
equipment
plant and equipment
0 0
equipment
changes, property, plant and (A) 2,927 0
equipment
plant and equipment
0 0
equipment
0 0
equipment
0 0
equipment
equipment
30,933 14,55,986
plant and equipment
24,26,974 39,13,893 38,82,960 24,26,974
period
(A) During the process of physical verification for the year ended 31 March 2017, the Company identified certain errors in classification
124
of certain property, plant and equipment. The adjustments reported above under the Gross Carrying Amount and Depreciation pertain to
such rectifications effected for the year ended 31 March 2017.
125
Plant and
Classes of property, plant and equipment [Axis] Factory building [Member] equipment
[Member]
Owned and leased
assets [Member]
[Axis] [Member]
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
[Abstract]
equipment
equipment
plant and equipment
1,40,487 1,21,403 -7,25,003
loss
0 0 0
1,40,487 1,21,403 -7,25,003
equipment
equipment
0
equipment
plant and equipment
equipment
changes, property, plant and 1,555 0 -26,034
equipment
transfers and other changes, property, 1,555 0 -26,034
plant and equipment
0 0 0
equipment
0 0 17,880
equipment
126

0 0 17,880
equipment
equipment
1,42,042 1,21,403 -5,51,320
plant and equipment
2,63,445 1,21,403 0 1,01,41,876
period
127
Classes of property, plant and equipment [Axis] Plant and equipment [Member]
amount [Axis]
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
[Abstract]
equipment
equipment
plant and equipment
-6,58,704
loss
0
-6,58,704
equipment
equipment
0 0 0
equipment
plant and equipment
equipment
changes, property, plant and 0 -29,932 0
equipment
transfers and other changes, property, 0 -29,932 0
plant and equipment
0 0 0
equipment
0 17,880 0
equipment
0 17,880 0
128

equipment
equipment
29,34,153 1,69,785 35,92,857
plant and equipment
1,06,93,196 77,59,043 1,15,21,685 1,13,51,900
period
129
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
[Abstract]
7,25,003 6,58,704
loss
0 0
7,25,003 6,58,704
equipment
equipment
equipment
plant and equipment
equipment
changes, property, plant and -3,898 0
equipment
transfers and other changes, property, -3,898 0
plant and equipment
0 0
equipment
0 0
equipment
0 0
equipment
equipment
7,21,105 6,58,704
plant and equipment
77,59,043 13,79,809 6,58,704 0
period
130
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
[Abstract]
equipment
equipment
plant and equipment
-7,25,003 -6,58,704
loss
0 0
-7,25,003 -6,58,704
equipment
equipment
0 0 0
equipment
plant and equipment
equipment
changes, property, plant and -26,034 0 -29,932
equipment
transfers and other changes, property, -26,034 0 -29,932
plant and equipment
0 0 0
equipment
17,880 0 17,880
equipment
17,880 0 17,880
131

equipment
equipment
-5,51,320 29,34,153 1,69,785
plant and equipment
1,01,41,876 1,06,93,196 77,59,043 1,15,21,685
period
132
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
[Abstract]
equipment
equipment
plant and equipment
7,25,003 6,58,704
loss
0 0
7,25,003 6,58,704
equipment
equipment
0
equipment
plant and equipment
equipment
equipment
plant and equipment
0 0 0
equipment
0 0 0
equipment
0 0 0
133

equipment
equipment
35,92,857 7,21,105 6,58,704
plant and equipment
1,13,51,900 77,59,043 13,79,809 6,58,704
period
134
Plant and
Classes of property, plant and equipment [Axis] equipment Factory equipments [Member]
[Member]
Owned assets
[Member]
Accumulated
[Axis] impairment
[Member]
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
[Abstract]
combinations, property, plant and 2,17,597 35,92,857
equipment
equipment
plant and equipment
-7,25,003 -6,58,704
loss
0 0
-7,25,003 -6,58,704
equipment
equipment
0 0
equipment
plant and equipment
equipment
changes, property, plant and -26,034 0
equipment
plant and equipment
0 0
equipment
135

17,880 0
equipment
17,880 0
equipment
equipment
-5,51,320 29,34,153
plant and equipment
0 1,01,41,876 1,06,93,196 77,59,043
period
136
Classes of property, plant and equipment [Axis] Factory equipments [Member]
Accumulated
[Axis] impairment
[Member]
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
[Abstract]
equipment
equipment
plant and equipment
7,25,003
loss
0
7,25,003
equipment
equipment
0 0
equipment
plant and equipment
equipment
changes, property, plant and -29,932 0 -3,898
equipment
transfers and other changes, property, -29,932 0 -3,898
plant and equipment
0 0 0
equipment
17,880 0 0
equipment
17,880 0 0
137

equipment
equipment
1,69,785 35,92,857 7,21,105
plant and equipment
1,15,21,685 1,13,51,900 77,59,043 13,79,809
period
138
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
[Abstract]
equipment
equipment
plant and equipment
6,58,704 -7,25,003 -6,58,704
loss
0 0 0
6,58,704 -7,25,003 -6,58,704
equipment
equipment
0 0
equipment
plant and equipment
equipment
equipment
plant and equipment
0 0 0
equipment
0 17,880 0
equipment
0 17,880 0
139

equipment
equipment
6,58,704 -5,51,320 29,34,153
plant and equipment
6,58,704 0 1,01,41,876 1,06,93,196
period
[Axis] [Member]
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
[Abstract]
equipment
equipment
plant and equipment
0 0
equipment
changes, property, plant and (A) -29,932 0
equipment
plant and equipment
0 0
equipment
(B) 17,880 0
equipment
17,880 0
equipment
equipment
1,69,785 35,92,857
plant and equipment
77,59,043 1,15,21,685 1,13,51,900 77,59,043
period
140
(B) Write-offs
141
Furniture and
fixtures [Member]
Owned and leased
assets [Member]
[Axis] [Member]
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
[Abstract]
equipment
equipment
plant and equipment
7,25,003 6,58,704 -9,571
loss
0 0 0
7,25,003 6,58,704 -9,571
equipment
equipment
0
equipment
plant and equipment
equipment
changes, property, plant and -3,898 0 4,562
equipment
transfers and other changes, property, -3,898 0 4,562
plant and equipment
0 0 0
equipment
0 0 0
equipment
0 0 0
142

equipment
equipment
7,21,105 6,58,704 -2,094
plant and equipment
13,79,809 6,58,704 0 55,254
period
143
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member]
amount [Axis]
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
[Abstract]
combinations, property, plant and 668 2,915 668
equipment
equipment
plant and equipment
-8,724
loss
0
-8,724
equipment
equipment
0 0 0
equipment
plant and equipment
equipment
changes, property, plant and -557 4,870 0
equipment
transfers and other changes, property, -557 4,870 0
plant and equipment
0 0 0
equipment
0 0 0
equipment
0 0 0
144

equipment
equipment
-8,613 7,785 668
plant and equipment
57,348 65,961 74,414 66,629
period
145
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
[Abstract]
9,571 8,724
loss
0 0
9,571 8,724
equipment
equipment
equipment
plant and equipment
equipment
equipment
plant and equipment
0 0
equipment
0 0
equipment
0 0
equipment
equipment
9,879 9,281
plant and equipment
65,961 19,160 9,281 0
period
146
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
[Abstract]
combinations, property, plant and 2,915 668 2,915
equipment
equipment
plant and equipment
-9,571 -8,724
loss
0 0
-9,571 -8,724
equipment
equipment
0 0 0
equipment
plant and equipment
equipment
changes, property, plant and 4,562 -557 (A) 4,870
equipment
transfers and other changes, property, 4,562 -557 4,870
plant and equipment
0 0 0
equipment
0 0 0
equipment
0 0 0
147

equipment
equipment
-2,094 -8,613 7,785
plant and equipment
55,254 57,348 65,961 74,414
period
148
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
[Abstract]
equipment
equipment
plant and equipment
9,571 8,724
loss
0 0
9,571 8,724
equipment
equipment
0
equipment
plant and equipment
equipment
changes, property, plant and 0 308 (A) 557
equipment
plant and equipment
0 0 0
equipment
0 0 0
equipment
0 0 0
149

equipment
equipment
668 9,879 9,281
plant and equipment
66,629 65,961 19,160 9,281
period
(A) Amounts in adjustments column pertains to net depreciation charged in excess to Statement of Profit and Loss in previous year.
150
Furniture and
Classes of property, plant and equipment [Axis] Vehicles [Member]
fixtures [Member]
Owned assets
[Member]
Accumulated
[Axis] impairment
[Member]
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
[Abstract]
equipment
equipment
plant and equipment
-1,093 -960
loss
0 0
-1,093 -960
equipment
equipment
0 0
equipment
plant and equipment
equipment
changes, property, plant and 738 3,025
equipment
transfers and other changes, property, 738 3,025
plant and equipment
0 0
equipment
537 0
equipment
151

537 0
equipment
equipment
-892 2,114
plant and equipment
0 3,556 4,448 2,334
period
152
Accumulated
[Axis] impairment
[Member]
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
[Abstract]
equipment
equipment
plant and equipment
1,093
loss
0
1,093
equipment
equipment
0 0
equipment
plant and equipment
equipment
equipment
plant and equipment
0 0 0
equipment
537 0 0
equipment
537 0 0
153

equipment
equipment
251 3,074 1,143
plant and equipment
5,659 5,408 2,334 2,103
period
154
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
[Abstract]
equipment
equipment
plant and equipment
960 -1,093 -960
loss
0 0 0
960 -1,093 -960
equipment
equipment
0 0
equipment
plant and equipment
equipment
changes, property, plant and 0 738 3,025
equipment
transfers and other changes, property, 0 738 3,025
plant and equipment
0 0 0
equipment
0 537 0
equipment
0 537 0
155

equipment
equipment
960 -892 2,114
plant and equipment
960 0 3,556 4,448
period
[Axis] [Member]
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
[Abstract]
equipment
equipment
plant and equipment
0 0
equipment
changes, property, plant and 788 3,025
equipment
transfers and other changes, property, 788 3,025
plant and equipment
0 0
equipment
537 0
equipment
537 0
equipment
equipment
251 3,074
plant and equipment
2,334 5,659 5,408 2,334
period
156
Motor vehicles
[Member]
Owned and leased
assets [Member]
[Axis] [Member]
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
[Abstract]
equipment
equipment
plant and equipment
1,093 960 -1,093
loss
0 0 0
1,093 960 -1,093
equipment
equipment
0
equipment
plant and equipment
equipment
equipment
plant and equipment
0 0 0
equipment
0 0 537
equipment
0 0 537
157

equipment
equipment
1,143 960 -892
plant and equipment
2,103 960 0 3,556
period
158
Classes of property, plant and equipment [Axis] Motor vehicles [Member]
amount [Axis]
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
[Abstract]
equipment
equipment
plant and equipment
-960
loss
0
-960
equipment
equipment
0 0 0
equipment
plant and equipment
equipment
equipment
plant and equipment
0 0 0
equipment
0 537 0
equipment
0 537 0
159

equipment
equipment
2,114 251 3,074
plant and equipment
4,448 2,334 5,659 5,408
period
160
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
[Abstract]
1,093 960
loss
0 0
1,093 960
equipment
equipment
equipment
plant and equipment
equipment
equipment
plant and equipment
0 0
equipment
0 0
equipment
0 0
equipment
equipment
1,143 960
plant and equipment
2,334 2,103 960 0
period
161
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
[Abstract]
equipment
equipment
plant and equipment
-1,093 -960
loss
0 0
-1,093 -960
equipment
equipment
0 0 0
equipment
plant and equipment
equipment
changes, property, plant and 738 3,025 (A) 788
equipment
plant and equipment
0 0 0
equipment
537 0 (B) 537
equipment
537 0 537
162

equipment
equipment
-892 2,114 251
plant and equipment
3,556 4,448 2,334 5,659
period
(B) Write-offs
163
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
[Abstract]
equipment
equipment
plant and equipment
1,093 960
loss
0 0
1,093 960
equipment
equipment
0
equipment
plant and equipment
equipment
changes, property, plant and (A) 3,025 50 0
equipment
transfers and other changes, property, 3,025 50 0
plant and equipment
0 0 0
equipment
0 0 0
equipment
0 0 0
164

equipment
equipment
3,074 1,143 960
plant and equipment
5,408 2,334 2,103 960
period
(written in Gross block column to avoid error of negative value in Depreciation column)
165
Motor vehicles
Classes of property, plant and equipment [Axis] Office equipment [Member]
[Member]
Owned assets
[Member]
Accumulated
[Axis] impairment
[Member]
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
[Abstract]
combinations, property, plant and 6,501 25,711
equipment
equipment
plant and equipment
-16,740 -10,555
loss
0 0
-16,740 -10,555
equipment
equipment
0 0
equipment
plant and equipment
equipment
changes, property, plant and -3,075 10,163
equipment
transfers and other changes, property, -3,075 10,163
plant and equipment
0 0
equipment
0 0
equipment
166

0 0
equipment
equipment
-13,314 25,319
plant and equipment
0 31,848 45,162 19,843
period
167
Accumulated
[Axis] impairment
[Member]
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
[Abstract]
equipment
equipment
plant and equipment
16,740
loss
0
16,740
equipment
equipment
0 0
equipment
plant and equipment
equipment
changes, property, plant and -3,233 0 -158
equipment
transfers and other changes, property, -3,233 0 -158
plant and equipment
0 0 0
equipment
0 0 0
equipment
0 0 0
168

equipment
equipment
3,268 25,711 16,582
plant and equipment
48,822 45,554 19,843 16,974
period
169
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
[Abstract]
equipment
equipment
plant and equipment
10,555 -16,740 -10,555
loss
0 0 0
10,555 -16,740 -10,555
equipment
equipment
0 0
equipment
plant and equipment
equipment
changes, property, plant and -10,163 -3,075 10,163
equipment
transfers and other changes, property, -10,163 -3,075 10,163
plant and equipment
0 0 0
equipment
0 0 0
equipment
0 0 0
170

equipment
equipment
392 -13,314 25,319
plant and equipment
392 0 31,848 45,162
period
[Axis] [Member]
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
[Abstract]
equipment
equipment
plant and equipment
0 0
equipment
changes, property, plant and (A) -3,233 0
equipment
plant and equipment
0 0
equipment
0 0
equipment
0 0
equipment
equipment
3,268 25,711
plant and equipment
19,843 48,822 45,554 19,843
period
171
172
Computer
Classes of property, plant and equipment [Axis] Office equipment [Member] equipments
[Member]
Owned and leased
assets [Member]
[Axis] [Member]
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
[Abstract]
equipment
equipment
plant and equipment
16,740 10,555 -28,617
loss
0 0 0
16,740 10,555 -28,617
equipment
equipment
0
equipment
plant and equipment
equipment
changes, property, plant and -158 (A) -10,163 29,499
equipment
transfers and other changes, property, -158 -10,163 29,499
plant and equipment
0 0 48
equipment
0 0 0
equipment
173

0 0 48
equipment
equipment
16,582 392 7,981
plant and equipment
16,974 392 0 64,829
period
174
Classes of property, plant and equipment [Axis] Computer equipments [Member]
amount [Axis]
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
[Abstract]
combinations, property, plant and 0 7,147 0
equipment
equipment
plant and equipment
-18,388
loss
0
-18,388
equipment
equipment
0 0 0
equipment
plant and equipment
equipment
equipment
plant and equipment
0 48 0
equipment
0 0 0
equipment
0 48 0
175

equipment
equipment
-18,388 41,103 0
plant and equipment
56,848 75,236 1,16,339 75,236
period
176
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
[Abstract]
28,617 18,388
loss
0 0
28,617 18,388
equipment
equipment
equipment
plant and equipment
equipment
equipment
plant and equipment
0 0
equipment
0 0
equipment
0 0
equipment
equipment
33,122 18,388
plant and equipment
75,236 51,510 18,388 0
period
177
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
[Abstract]
combinations, property, plant and 7,147 0 7,147
equipment
equipment
plant and equipment
-28,617 -18,388
loss
0 0
-28,617 -18,388
equipment
equipment
0 0 0
equipment
plant and equipment
equipment
changes, property, plant and 29,499 0 (A) 34,004
equipment
plant and equipment
48 0 48
equipment
0 0 0
equipment
48 0 48
178

equipment
equipment
7,981 -18,388 41,103
plant and equipment
64,829 56,848 75,236 1,16,339
period
179
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
[Abstract]
equipment
equipment
plant and equipment
28,617 18,388
loss
0 0
28,617 18,388
equipment
equipment
0
equipment
plant and equipment
equipment
equipment
plant and equipment
0 0 0
equipment
0 0 0
equipment
0 0 0
180

equipment
equipment
0 33,122 18,388
plant and equipment
75,236 75,236 51,510 18,388
period
Computer
Classes of property, plant and equipment [Axis] equipments
[Member]
Owned assets
Sub classes of property, plant and equipment [Axis]
[Member]
Accumulated
depreciation and
Carrying amount accumulated depreciation and gross carrying amount [Axis]
impairment
[Member]
31/03/2015
Disclosure of detailed information about property, plant and equipment [Abstract]
Disclosure of detailed information about property, plant and equipment [Line items]
Reconciliation of changes in property, plant and equipment [Abstract]
Property, plant and equipment at end of period 0
Disclosure of additional information about property plant and equipment [Table] ..(1)
Property, plant and equipment
[Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned and leased assets [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Disclosure of additional information about
property plant and equipment [Abstract]
property plant and equipment [Line items]
Depreciation method, property, plant and
Total Total - -
equipment
Useful lives or depreciation rates, property,
Total Total - -
plant and equipment
Classes of property, plant and equipment [Axis] Land [Member] Buildings [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Owned and leased assets [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Depreciation method, property, plant and Straight Line
- - Straight Line Method
equipment Method
- - 60 Years 60 Years
plant and equipment
181
Classes of property, plant and equipment [Axis] Buildings [Member] Factory building [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Depreciation method, property, plant and Straight Line Straight Line
Straight Line Method Straight Line Method
equipment Method Method
60 Years 60 Years 30 Years 30 Years
plant and equipment
Classes of property, plant and equipment [Axis] Factory building [Member] Plant and equipment [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
30 Years 30 Years 8 Years to 40 Years 8 Years to 40 Years
plant and equipment
Classes of property, plant and equipment [Axis] Plant and equipment [Member] Factory equipments [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
8 Years to 40 Years 8 Years to 40 Years 8 Years to 40 Years 8 Years to 40 Years
plant and equipment
Classes of property, plant and equipment [Axis] Factory equipments [Member] Furniture and fixtures [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
8 Years to 40 Years 8 Years to 40 Years 10 Years 10 Years
plant and equipment
182
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member] Vehicles [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
plant and equipment
Classes of property, plant and equipment [Axis] Vehicles [Member] Motor vehicles [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
plant and equipment
Classes of property, plant and equipment [Axis] Motor vehicles [Member] Office equipment [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
plant and equipment
Classes of property, plant and equipment [Axis] Office equipment [Member] Computer equipments [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
5 Years 5 Years 3 Years to 6 Years 3 Years to 6 Years
plant and equipment
183
01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of additional information about property plant and equipment [Abstract]
Disclosure of additional information about property plant and equipment [Line items]
Straight Line
Depreciation method, property, plant and equipment Method
Straight Line Method
Useful lives or depreciation rates, property, plant and equipment 3 Years to 6 Years 3 Years to 6 Years

01/04/2016
to
31/03/2017
Disclosure of property, plant and equipment [TextBlock] [See below]
Disclosure of detailed information about property, plant and equipment
[TextBlock]
Disclosure of property, plant and equipment [Text Block]

The Company has conducted physical verification of property, plant and equipment during the year. Out of the total discrepancies identified
un-adjusted differences as at the end of the reporting year. During the process of physical verification, the management has identified certain
property, plant and equipment classification errors which have been duly rectified during the reporting year.
[612100] Notes - Impairment of assets

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of impairment of assets [TextBlock]
Disclosure of impairment loss and reversal of impairment loss [TextBlock]
Whether there is any impairment loss or reversal of impairment loss
No No
during the year
Disclosure of information for impairment loss recognised or reversed
for individual Assets or cash-generating unit [TextBlock]
Whether impairment loss recognised or reversed for individual Assets
No No
or cash-generating unit
[400700] Notes - Investment property

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of investment property [TextBlock]
Disclosure of detailed information about investment property [TextBlock]
Depreciation method, investment property, cost model NA NA
Useful lives or depreciation rates, investment property, cost model NA NA
184
[400800] Notes - Goodwill
Disclosure of reconciliation of changes in goodwill [Table] ..(1)

Carrying amount accumulated amortization and impairment and gross carrying amount
[Axis]
31/03/2017 31/03/2016 31/03/2015
Disclosure of reconciliation of changes in goodwill [Abstract]
Disclosure of reconciliation of changes in goodwill [Line items]
Goodwill at end of period 0 0 0

31/03/2017 31/03/2016 31/03/2015
Disclosure of goodwill [TextBlock]
Disclosure of reconciliation of changes in goodwill [Abstract]
Goodwill at end of period 0 0 0
[400900] Notes - Other intangible assets
Disclosure of additional information about other intangible assets [Table] ..(1)

Company other intangible assets
Classes of other intangible assets [Axis] Computer software [Member]
[Member]
Internally generated and other than Internally generated and other than
Sub classes of other intangible assets [Axis] internally generated intangible assets internally generated intangible assets
[Member] [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Disclosure of additional information about other
intangible assets [Abstract]
other intangible assets [Line items]
Straight Line Straight Line
Amortisation method, other intangible assets Method
Method
Useful lives or amortisation rates, other

intangible assets
Whether other intangible assets are stated at
No No No No
revalued amount
Disclosure of additional information about other intangible assets [Table] ..(2)

Intangible assets other than internally
Sub classes of other intangible assets [Axis]
generated [Member]
01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of additional information about other intangible assets [Abstract]
Disclosure of additional information about other intangible assets [Line items]
Straight Line
Amortisation method, other intangible assets Method
Useful lives or amortisation rates, other intangible assets 5 Years 5 Years

Whether other intangible assets are stated at revalued amount No No
185
Disclosure of detailed information about other intangible assets [Table] ..(1)

Classes of other intangible assets [Axis] Company other intangible assets [Member]
Internally generated and other than internally generated intangible assets
[Member]
Carrying amount accumulated amortization and impairment and gross Gross carrying
carrying amount [Axis] amount [Member]
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
11,900 25,016 11,900
combinations
Acquisitions through business combinations 0 0 0
Increase (decrease) through net exchange
0 0 0
differences
Amortisation other intangible assets -13,269 -15,328
Impairment loss recognised in profit or
0 0
loss
0 0
in profit or loss
Revaluation increase (decrease), other
0 0 0
intangible assets
comprehensive income, other intangible 0 0
assets
Reversal of impairment loss recognised in
other comprehensive income, other 0 0
intangible assets
transfers and other changes, other
0 0 0
transfers, other intangible assets
-7,065 -4,722 -9,424
changes
transfers and other changes, Other -7,065 -4,722 -9,424
intangible assets
Disposals and retirements, other
Disposals 0 0 0
Retirements 0 0 0
Total Disposals and retirements,
0 0 0
Other intangible assets
Decrease through classified as held for
0 0 0
sale
0 0 0
subsidiary
Total increase (decrease) in Other
-8,434 4,966 2,476
intangible assets
Other intangible assets at end of period 24,632 33,066 28,100 55,592
186

Classes of other intangible assets [Axis] Company other intangible assets [Member]
[Member]
Carrying amount accumulated amortization and impairment and gross Accumulated amortization and
carrying amount [Axis] impairment [Member]
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
assets [Abstract]
25,016
combinations
Acquisitions through business combinations 0
0
differences
Amortisation other intangible assets 13,269 15,328
0 0
loss
0 0
in profit or loss
0
intangible assets
assets
intangible assets
0 0 0
0 -2,359 4,722
changes
transfers and other changes, Other 0 -2,359 4,722
intangible assets
Disposals 0 0 0
Retirements 0 0 0
0 0 0
0 0 0
sale
0 0 0
subsidiary
25,016 10,910 20,050
intangible assets
187

Company other
Classes of other intangible assets [Axis] intangible assets Computer software [Member]
[Member]
Internally
generated and
other than
Internally generated and other than internally generated
Sub classes of other intangible assets [Axis] internally
intangible assets [Member]
generated
intangible assets
[Member]
Accumulated
Carrying amount accumulated amortization and impairment and gross amortization and
carrying amount [Axis] impairment
[Member]
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
assets [Abstract]
11,900 25,016
combinations
Acquisitions through business combinations 0 0
0 0
differences
Amortisation other intangible assets -13,269 -15,328
0 0
loss
0 0
in profit or loss
0 0
intangible assets
assets
intangible assets
0 0
-7,065 -4,722
changes
transfers and other changes, Other -7,065 -4,722
intangible assets
Disposals 0 0
Retirements 0 0
0 0
0 0
sale
0 0
subsidiary
-8,434 4,966
intangible assets
Other intangible assets at end of period 0 24,632 33,066 28,100
188

[Member]
Accumulated
Carrying amount accumulated amortization and impairment and gross amortization and
carrying amount [Axis] impairment
[Member]
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
assets [Abstract]
11,900 25,016
combinations
0 0
differences
Amortisation other intangible assets 13,269
0
loss
0
in profit or loss
0 0
intangible assets
comprehensive income, other intangible 0
assets
other comprehensive income, other 0
intangible assets
0 0 0
-9,424 0 -2,359
changes
transfers and other changes, Other -9,424 0 -2,359
intangible assets
Disposals 0 0 0
Retirements 0 0 0
0 0 0
0 0 0
sale
0 0 0
subsidiary
2,476 25,016 10,910
intangible assets
189

Internally generated and other than
Intangible assets other than internally
Sub classes of other intangible assets [Axis] internally generated intangible assets
generated [Member]
[Member]
Carrying amount accumulated amortization and impairment and gross Accumulated amortization and
carrying amount [Axis] impairment [Member]
01/04/2015 01/04/2016 01/04/2015
to 31/03/2015 to to
31/03/2016 31/03/2017 31/03/2016
assets [Abstract]
11,900 25,016
combinations
0 0
differences
Amortisation other intangible assets 15,328 -13,269 -15,328
0 0 0
loss
0 0 0
in profit or loss
0 0
intangible assets
comprehensive income, other intangible 0 0 0
assets
other comprehensive income, other 0 0 0
intangible assets
0 0 0
4,722 -7,065 -4,722
changes
transfers and other changes, Other 4,722 -7,065 -4,722
intangible assets
Disposals 0 0 0
Retirements 0 0 0
0 0 0
0 0 0
sale
0 0 0
subsidiary
20,050 -8,434 4,966
intangible assets
Other intangible assets at end of period 20,050 0 24,632 33,066
190

Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member]
Carrying amount accumulated amortization and impairment and gross Carrying amount
carrying amount [Axis] [Member]
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
assets [Abstract]
11,900 25,016
combinations
0 0
differences
0 0
intangible assets
0 0
-9,424 0
changes
transfers and other changes, Other -9,424 0
intangible assets
Disposals 0 0
Retirements 0 0
0 0
0 0
sale
0 0
subsidiary
2,476 25,016
intangible assets
191

Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member]
Carrying amount accumulated amortization and impairment and gross carrying amount
Accumulated amortization and impairment [Member]
[Axis]
01/04/2016 01/04/2015
to to 31/03/2015
31/03/2017 31/03/2016
Disclosure of detailed information about other intangible assets
[Abstract]
[Line items]
Reconciliation of changes in other intangible assets [Abstract]
Amortisation other intangible assets 13,269 15,328
Impairment loss recognised in profit or loss 0 0
Reversal of impairment loss recognised in profit or loss 0 0
Impairment loss recognised in other comprehensive
0 0
income, other intangible assets
Reversal of impairment loss recognised in other
0 0
comprehensive income, other intangible assets
Increase (decrease) through transfers and other
changes, other intangible assets [Abstract]
Increase (decrease) through transfers, other intangible
0 0
assets
Increase (decrease) through other changes -2,359 4,722
Total increase (decrease) through transfers and
-2,359 4,722
other changes, Other intangible assets
Disposals and retirements, other intangible assets
[Abstract]
Disposals 0 0
Retirements 0 0
Total Disposals and retirements, Other intangible assets 0 0
Decrease through classified as held for sale 0 0
Decrease through loss of control of subsidiary 0 0
Total increase (decrease) in Other intangible assets 10,910 20,050
Other intangible assets at end of period 30,960 20,050 0

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of other intangible assets [TextBlock]
[TextBlock]
Disclosure of intangible assets with indefinite useful life [TextBlock]
Whether there are intangible assets with indefinite useful life No No
[401000] Notes - Biological assets other than bearer plants

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of biological assets, agriculture produce at point of
harvest and government grants related to biological assets
[TextBlock]
Depreciation method, biological assets other than bearer plants, at cost NA NA
Useful lives or depreciation rates, biological assets other than bearer
NA NA
plants, at cost
192
[611100] Notes - Financial instruments
Disclosure of financial liabilities [Table] ..(1)

Financial liabilities at amortised cost,
Classes of financial liabilities [Axis]
class [Member]
Financial liabilities at amortised cost,
Categories of financial liabilities [Axis]
category [Member]
31/03/2017 31/03/2016
Disclosure of financial liabilities [Abstract]
Disclosure of financial liabilities [Line items]
Financial liabilities 1,10,36,340 1,12,90,304
Financial liabilities, at fair value 1,10,36,340 1,12,90,304
Disclosure of financial assets [Table] ..(1)

Financial assets at amortised cost, class
Classes of financial assets [Axis] Trade receivables [Member]
[Member]
Categories of financial assets [Axis] Financial assets, category [Member] Financial assets, category [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 14,20,576 12,97,207 12,46,104 8,89,878
Financial assets, at fair value 14,20,576 12,97,207 12,46,104 8,89,878
Description of other financial assets at
Total Total Trade receivables Trade receivables
amortised cost class

Other financial assets at amortised cost
Classes of financial assets [Axis] Trade receivables [Member]
class [Member]
Financial assets at amortised cost,
Categories of financial assets [Axis] Financial assets, category [Member]
category [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Description of other financial assets at
Trade receivables Trade receivables Total Total
amortised cost class

Classes of financial assets [Axis] Other financial assets at amortised cost class 1 [Member]
category [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Financial assets 29,895 1,06,505 29,895 1,06,505
Financial assets, at fair value 29,895 1,06,505 29,895 1,06,505
Description of other financial assets at Cash and Cash Cash and Cash Cash and Cash Cash and Cash
amortised cost class equivalents equivalents equivalents equivalents
193

Classes of financial assets [Axis] Other financial assets at amortised cost class 2 [Member]
category [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Description of other financial assets at Other Financial Other Financial Other Financial Other Financial
amortised cost class Assets Assets Assets Assets

Financial assets at fair value, class
Classes of financial assets [Axis] Equity investments [Member]
[Member]
Categories of financial assets [Axis] Financial assets, category [Member] Financial assets, category [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Financial assets 84,947 84,947 84,947 84,947
Financial assets, at fair value 84,947 84,947 84,947 84,947
Equity Shares of Equity Shares of
Description of other financial assets at fair Andhra Pradesh Gas Andhra Pradesh Gas
Total Total
value class Power Corporation Power Corporation
Limited Limited

Classes of financial assets [Axis] Equity investments [Member]
Financial assets at fair value through Investments in equity instruments
Categories of financial assets [Axis] other comprehensive income, category designated at fair value through other
[Member] comprehensive income [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Financial assets 84,947 84,947 84,947 84,947
Financial assets, at fair value 84,947 84,947 84,947 84,947
Equity Shares of Equity Shares of Equity Shares of Equity Shares of
Description of other financial assets at fair Andhra Pradesh Gas Andhra Pradesh Gas Andhra Pradesh Gas Andhra Pradesh Gas
value class Power Corporation Power Corporation Power Corporation Power Corporation
Limited Limited Limited Limited
194

01/04/2016
to
31/03/2017
Disclosure of financial instruments [TextBlock]
Disclosure of detailed information about financial instruments [TextBlock] [See below]
Disclosure of financial assets [TextBlock]
Disclosure of financial liabilities [TextBlock]
Disclosure of financial liabilities [Abstract]
Disclosure of nature and extent of risks arising from financial Textual information (64)
instruments [TextBlock] [See below]
Disclosure of credit risk [TextBlock]
Disclosure of reconciliation of changes in loss allowance and
explanation of changes in gross carrying amount for financial
instruments [TextBlock]
Disclosure of reconciliation of changes in loss allowance
and explanation of changes in gross carrying amount for
financial instruments [Abstract]
Disclosure of credit risk exposure [TextBlock]
Disclosure of credit risk exposure [Abstract]
Disclosure of provision matrix [TextBlock]
Disclosure of provision matrix [Abstract]
Disclosure of financial instruments by type of interest rate [TextBlock]
Disclosure of financial instruments by type of interest rate [Abstract]
195
Disclosure of detailed information about financial instruments [Text Block]

A. Derivative Financial Instruments
1. Forward Contracts
Foreign exchange forward contracts are purchased to mitigate the risk of changes in foreign exchange rates associated with certain payables,
receivables and forecasted transactions denominated in certain foreign currencies. These derivative contracts are initially recognized at fair value
on the date the contract is entered into and subsequently re-measured at their fair value. Gains or losses arising from changes in the fair value of
the derivative contracts are recognized immediately In profit or loss statement. The counterparties for these contracts are generally banks or
financial institutions.
The details of outstanding forward contracts as at March 31, 2017 and March 31, 2016 are given below:
Particulars Currency As at 31 march 17 As at 31 march 16
Forward Contracts USD 14,462 15,783
(Gain) / Loss on Mark to Market in respect of Forward Contracts Outstanding INR -18,806 12,823
The forward exchange contracts mature between one and twelve months.
The table below summarises the amounts of derivative financial instruments into relevant maturity groupings based on the remaining period as at
the end of the year:
Particulars USD ('000) USD ('000)
As at 31 march 17 As at 31 march 16
Not later than one month - -
Later than one month and not later than three months 6,224 6,892
Later than three months and not later than six months 8,238 4,732
Later than six months and not later than one year - 4,160
14,462 15,783
2. Cross Currency Swap

The Company has entered into a Cross Currency Swap (Principal and Interest Swap arrangement) in order to hedge the cash flows arising out of
the Principal and Interest repayments of the underlying ECB loan . The period of the swap contract is co terminus with the period of the
underlying ECB loan. As per the terms of the arrangement, the Company shall pay INR Fixed and receive USD Fixed pricipal, and the Company
shall pay Fixed rate of interest (11.02% and 10.17%) and receive variable rate of interest equal to LIBOR + fixed rate (2.25% and 2%). The swap
arrangement is marked to market at end of every year and losses/gains are recognised in the the Statement of profit or loss.
The details of the outstanding balances and the mark to market losses recognised during the year are as under:
196
Particulars Currency 31-Mar-17 31-Mar-16
Value of Outstanding USD ECB Loan
The Hongkong and Shanghai Banking Corporation Limited, Mauritius USD $ 25,000 $ 25,000
BTMU USD $ 40,000 $ 40,000
Value of Outstanding INR ECB Loan
The Hongkong and Shanghai Banking Corporation Limited, Mauritius INR 1,552,500 1,552,500
BTMU INR 2,505,600 2,505,600
Mark to Market Losses / (Gains)
The Hongkong and Shanghai Banking Corporation Limited, Mauritius INR (17,619) (21,632)
BTMU INR 5,028 (17,729)
The maturity of these contracts extends till 3 years. The table below summarises the cash flows (principal and interest) of these derivative
financial instruments into relevant maturity groupings based on the remaining period as at the end of the year:
Particulars 31-Mar-17 31-Mar-16
Payable INR Receivable USD Payable INR Receivable USD
Transaction Value ('000) Transaction Value ('000)
Principal
Less than 1 year 1,552,500 $ 25,000 - -
1 to 2 years 2,505,600 $ 40,000 1,552,500 $ 25,000
2 to 3 years - - 2,505,600 $ 40,000
Interest
Less than 1 year 365,788 434,351
1 to 2 years 122,174 365,788
197
2 to 3 years - 122,174
B. Financial Instruments by Category
The carrying value and fair value of financial instruments by each category as at March 31, 2017 were as follows -
Financial Assets / Total

Financial Assets / Financial Assets / Total Fair
Particulars Liabilities at amortised Carrying
Liabilities at FVTPL Liabilities at FVTOCI Value
cost Value
Assets
Investments - - 84,947 84,947 84,947
Trade receivables 1,246,104 - - 1,246,104 1,246,104
Cash and Cash equivalents 29,895 - - 29,895 29,895
Other Financial Assets 144,577 - - 144,577 144,577
Liabilities
Borrowings from banks (includes current

10,680,598 - - 10,680,598
maturities of Long term debt) 10,680,598
Borrowings from others 185,425 - - 185,425 185,425
Trade payables 170,317 - - 170,317 170,317

cost Value
Assets
Investments - - 84,947 84,947 84,947
Trade receivables 889,878 - - 889,878 889,878
198
Liabilities

9,949,416 - - 9,949,416
Trade payables 1,171,473 - - 1,171,473

1,171,473

cost Value
Assets
Investments - - 84,947 84,947 84,947
Trade receivables 1,094,708 - - 1,094,708

1,094,708
Liabilities

9,000,968 - - 9,000,968
Trade payables 1,834,659 - - 1,834,659

1,834,659
C. Fair value Measurements
The details of assets and liabilities that are measured on fair value on recurring basis are given below :
Fair Value as of Fair Value as of Fair Value as of

Particulars
March 31, 2017 March 31, 2016 April 1, 2015
Level Level Level

Level 2 Level 2 Level 2
3 3 3
199
Assets
Investments - - -
84,947 84,947 84,947
-
Derivative financial assets - gain on outstanding
- - - - -
option / Forwad contracts
-
Derivative financial assets - Gain on outstanding cross
- - - -
currency swaps
279,112
Liabilities
77,760
Derivative financial liabilities - loss on outstanding
- - - 94,772 -
cross currency swaps
13,213
Derivative financial liabilities - loss on outstanding
- - -
option / Forwad contracts
12,823
Note: The Company has not classified any financial asset or liability under LEVEL 1
Derivatives are valued using valuation techniques with market observable inputs such as foreign exchange spot rates and forward rates at the end
of the reporting period, yield curves, risk free rate of returns, volatility etc., as applicable.
If one or more of the significant inputs is not based on observable market data, the fair value is determined using generally accepted pricing
models based on a discounted cash flow analysis, with the most significant inputs being the discount rate that reflects the credit risk of
counterparty.
The fair value of trade receivables, trade payables and other Current financial assets and liabilities is considered to be equal to the carrying
amounts of these items due to their short - term nature. Where such items are Non-current in nature, the same has been classified as Level 3 and
fair value determined using discounted cash flow basis. Similarly, unquoted equity instruments where most recent information to measure fair
value is insufficient, or if there is a wide range of possible fair value measurements, cost has been considered as the best estimate of fair value.
There has been no change in the valuation methodology for Level 3 inputs during the year. The Company has not classified any material financial
instruments under Level 3 of the fair value hierarchy. There were no transfers between Level 1 and Level 2 during the year.
D. Interest Income / (expenses), gains / (losses) recognised on financial assets and liabilities
Particulars Year ended March 31, 2017 Year ended March 31, 2016
A. Financial assets at amortised cost
Interest Income on bank deposits 4,036 3,799
Interest Income on other financial assets 379 346
200
Impairment on trade receivables 406 (722)
B. Financial liabiilities at amortised cost
Interest expenses on borrowings from bank, others and overdrafts (1093) (1195)
201
Disclosure of nature and extent of risks arising from financial instruments [Text Block]
FINANCIAL RISK MANAGEMENT
The Company has exposure to the following risks from its use of financial instruments:
1. Credit risk
2. Liquidity risk
3. Market risk
The Board of Directors has overall responsibility for the establishment and oversight of the Company's risk management framework. The Board
of Directors, supported by Finance and Legal Team, identify and analyze the risks faced by the Company, set appropriate risk limits and controls,
and monitor risks and adherence to limits. Risk management systems are reviewed periodically to reflect changes in market conditions and the
Company's activities. The Board is assisted in its oversight role by Internal Audit. Internal Audit undertakes reviews of risk management controls
and procedures, the results of which are reported to the Board.
The Board seeks to minimize the effects of these risks by using derivative financial instruments to hedge risk exposures. The Group does not enter
into or trade financial instruments, including derivative financial instruments, for speculative purposes.
1. Credit risk:
Credit risk is the risk of financial loss to the Company if a Customer or counterparty to a financial instrument fails to meet its contractual
obligations and it arises principally from the Company's trade receivables, treasury operations and related activities.
Trade and other receivables:

The Company's exposure to credit risk is influenced mainly by the individual characteristics of each customer. Management considers that the
demographics of the Company's customer base, including the default risk of the industry in which customers operate, has less of an influence on
credit risk. The Company is not exposed to concentration of credit risk to any one single customer since the products are sold to customers who
are spread over a vast spectrum and hence, the concentration of risk with respect to trade receivables is low. Credit risk is managed through credit
approvals, establishing credit limits and continuously monitoring the credit worthiness of the customers to which the Company grants credit terms
in the normal course of the business.
Cash and cash equivalents and other investments:

The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating
agencies.
Exposure to credit risk

The gross carrying amount of financial assets, net of any impairment losses recognised represents the maximum credit exposure. The maximum
exposure to credit risk as at March 31, 2017 and 2016 was as follows:
Investments 84,947 84,947
Trade receivables 1,246,105 889,878
Cash and cash equivalents 29,895 106,505
Other financial assets 278,822 300,824
Financial assets that are past due but not impaired
202
There is no other class of financial assets that is past due other than trade receivables. The age analysis of trade receivables have been considered
from the date of invoice. The ageing of trade receivables, net of allowances that are past due, is given below:
0-1 Months past due 225,554 132,881
1-2 Months past due 18,865 35,545
2-3 Months past due 2,332 11,516
12 Months past due 0 0
Refer Note 7 for the activity in the allowance for impairment of trade account receivables.
Financial assets that are neither past due nor impaired

Cash and cash equivalents, security deposits, bank deposits and other assets are neither past due nor impaired.
The total trade receivables that are not past due and not impaired as at March 31, 2017 amounts to Rs. 992,059('000) (March 31, 2016:
690,462('000))
2. Liquidity Risk:
Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are
settled by delivering cash or another financial asset. The Company' s approach to managing liquidity is to ensure, as far as possible, that it will
always have sufficient liquidty to meet its liabilities when due, under normal and stressed conditions, without incurring unacceptable losses or
risking damange to the Company's reputation. Typically the Company ensures that it has sufficient cash on demand to meet expected operational
expenses, servicing of financial obligations. In addition, the Company has concluded arrangements with well reputed Banks and also plans to
negotiate additional facilities for funding as and when required.
The following are the contractual maturities of financial liabilities, excluding estimated interest payments and excluding the impact of netting
agreements
Particulars Carrying Amount Contractual cash flows 0-12 Months 1-3 years More than 3 years
As at 31 march 2017
Non-derivative financial liabilities
Borrowings from Bank 7,457,415 7,343,607 1,614,346 5,650,978 78,283
Borrowings from others * 185,425 361,935 361,935
Short Term facilities with Bank 3,209,149 3,209,149 3,209,149
Trade Payables 1,704,317 1,704,317 1,704,317
203
As at 31 march 2016
Non-derivative financial liabilities
Borrowings from Bank 7,581,385 7,399,595 55,988 7,233,090 110,517
Borrowings from others * 169,415 361,935 361,935
Short Term facilities with Bank 2,342,195 2,342,195 2,342,195
Trade Payables 1,171,473 1,171,473 1,171,473
3. Market risk:
Market risk is the risk of loss of future earnings or fair values or future cash flows that may result from a change in the price of a financial
instrument. The value of a financial instrument may change as a result of changes in the interest rates, foreign exchange rates and other market
changes that affect market risk sensitive instruments. Market risk is attributable to all market risk sensitive financial instruments including foreign
currency receivables and payables. The Company is exposed to market risk primarily related to foreign exchange rate risk (currency risk) and
interest rate risk. Thus the Company's exposure to market risk is a function of borrowing activities and revenue generating and operating activities
in foreign currencies.
a) Currency risk
The Company's exposure in USD and EUR denominated transactions gives rise to Exchange rate fluctuation risk. Company's policy in this regard
incorporates :
- Forecasting inflows and outflows denominated in USD and EUR for a 12-month period
- Estimating the net exposure in foreign currency, in terms of timing and amount
- Determining the extent to which exposure should be protected through one or more risk-mitigating instruments to maintain the permissible
limits of uncovered exposures.
- Carrying out a variance analysis between estimate and actual on an ongoing basis, and taking stop-loss action when the adverse movements
breaches the 5% barrier of deviation, subject to review by Board
The Company's exposure to foreign currency risk as at March 31, 2017 and 2016 was as follows:
USD EUR USD EUR
(000's) (000's) (000's) (000's)
Cash and Cash Equivalents 0.20 0.38 1.38 0.38
Trade Receivables 2,235 - - -
Trade Payables 107 10 412 18
Net Balance Sheet Exposure 2,343 10 413.38 18.38
Conversion Rate 64.85 69.38 66.25 75.46
204
A 10% strengthening of the rupee against the respective currencies as at March 31, 2017 and 2016 would have increased / (decreased) profit or
loss by the amounts shown below. This analysis assumes that all other variables remain constant. The analysis is performed on the same basis for
2016.
Profit / (Loss) (12,487) (2,595)
A 10% weakening of the rupee against the above currencies as at March 31, 2017 and 2016 would have had the equal but opposite effect on USD
to the amounts shown above, on the basis that all other variables remain constant.
b) Interest Rate Risk:

Interest rate risk is the risk that an upward movement in interest rates would adversely affect the borrowing costs of the Company.
At the reporting date, the interest rate profile of the Company's interest bearing financial instruments were as follows:
Particulars Carrying Amounts
31-Mar-17 31-Mar-16 31-Mar-15
I. Fixed Rate Instruments
Financial Assets
- Fixed Deposits with Banks 85,850 33,880 37,005
Financial Liabilities
- Borrowings from banks 7,457,415 7,581,385 7,371,038
II. Variable Rate Instruments
- Short Term Financials arrangements 3,209,149 2,342,195 1,592,293
(including Bank Overdrafts)
Fair value sensitivity for fixed rate instruments-

The Company does not account for any fixed rate financial assets and liabilities at fair value through profit or loss, and the Company does not
designate derivatives (cross currency swaps) as hedging instruments under a fair value hedge accounting model. Therefore a change in interest
rates at the reporting date would not affect the profit or loss except in the case of term loan from CITI Bank.
Profit /( Loss) - (Fixed Rate liabilities) (30,010) (30,715)
205
An increase of 100 basis points in interest rates at the reporting date would have increased / (decreased) profit or loss by the amounts shown
below.
This analysis assumes that all other variables remain constant. The analysis is performed on the same basis for 2016.
Profit / Loss - (Variable Rate liabilities) (15,917) (17,110)
A decrease of 100 basis points in the interest rates at the reporting date would have had equal but opposite effect on the amounts shown above, on
the basis that all other variables remain constant.
[400400] Notes - Non-current investments
Details of non-current investments [Table] ..(1)

Classification of non-current investments [Axis] Investment
01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Non-current investments [Abstract]
Disclosure of details of non-current investments [Abstract]
Details of non-current investments [Line items]
Investment in other Investment in other
Type of non-current investments Indian companies Indian companies
equity instruments equity instruments
Class of non-current investments Other investments Other investments
Nature of non-current investments Unquoted Unquoted
Non-current investments 84,947 84,947
Andhra Pradesh Gas Andhra Pradesh Gas
Name of body corporate in whom investment has been made Power Corporation Power Corporation
Limited Limited
Number of shares of non-current investment made in body corporate [shares] 12,59,600 [shares] 12,59,600

31/03/2017 31/03/2016
Disclosure of notes on non-current investments explanatory [TextBlock]
Aggregate amount of quoted non-current investments 0 0
Market value of quoted non-current investments 0 0
Aggregate amount of unquoted non-current investments 84,947 84,947
Aggregate provision for diminution in value of non-current investments 0 0
206
[611600] Notes - Non-current asset held for sale and discontinued operations
01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of non-current assets held for sale and discontinued operations
[TextBlock]
Net cash flows from (used in) operating activities, continuing
3,39,647 13,24,132
operations
Net cash flows from (used in) operating activities, discontinued
0 0
operations
Net cash flows from (used in) operating activities 3,39,647 13,24,132
Net cash flows from (used in) investing activities, continuing
-2,54,166 -15,21,048
operations
Net cash flows from (used in) investing activities, discontinued
0 0
operations
Net cash flows from (used in) investing activities -2,54,166 -15,21,048
Net cash flows from (used in) financing activities, continuing
-10,29,045 -22,04,999
operations
Net cash flows from (used in) financing activities, discontinued
0 0
operations
Net cash flows from (used in) financing activities -10,29,045 -22,04,999
[400100] Notes - Equity share capital
Disclosure of shareholding more than five per cent in company [Table] ..(1)
Classes of equity share capital [Axis] Equity shares 1 [Member]
Name of shareholder [Axis] Name of shareholder [Member] Shareholder 1 [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Unquoted Equity Unquoted Equity Unquoted Equity Unquoted Equity
Type of share Shares of Rs.10 each Shares of Rs.10 each Shares of Rs.10 each Shares of Rs.10 each
Disclosure of shareholding more than five per cent in
company [Abstract]
Disclosure of shareholding more than five per cent
in company [LineItems]
Unquoted Equity Unquoted Equity Unquoted Equity Unquoted Equity
Type of share Shares of Rs.10 each Shares of Rs.10 each Shares of Rs.10 each Shares of Rs.10 each
Gerdau Holdings Gerdau Holdings
Name of shareholder Europa SA Y CIA Europa SA Y CIA
S.R.C S.R.C
Country of incorporation or residence of
SPAIN SPAIN
shareholder
[shares] [shares]
Number of shares held in company 234,79,27,245 234,79,27,245
Percentage of shareholding in company 98.90% 98.90%
207
Disclosure of classes of equity share capital [Table] ..(1)

Equity shares 1
Classes of equity share capital [Axis] Equity shares [Member]
[Member]
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
Disclosure of classes of equity share capital [Abstract]
Disclosure of classes of equity share capital [Line
items]
Unquoted Equity
Type of share Shares of Rs.10 each
Number of shares authorised 290,00,00,000 290,00,00,000 290,00,00,000
Value of shares authorised 2,90,00,000 2,90,00,000 2,90,00,000
[shares] [shares] (A) [shares]
Number of shares issued 237,40,89,200 237,40,89,200 237,40,89,200
Value of shares issued 2,37,40,892 2,37,40,892 2,37,40,892
Number of shares subscribed and fully paid 237,40,89,200 237,40,89,200 237,40,89,200
Value of shares subscribed and fully paid 2,37,40,892 2,37,40,892 2,37,40,892
Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0 0
Total number of shares subscribed 237,40,89,200 237,40,89,200 237,40,89,200
Total value of shares subscribed 2,37,40,892 2,37,40,892 2,37,40,892
Value of shares paid-up [Abstract]
Number of shares paid-up 237,40,89,150 237,40,89,150 237,40,89,150
Value of shares called 2,37,40,892 2,37,40,892 2,37,40,892
Calls unpaid [Abstract]
Calls unpaid by directors and officers
[Abstract]
Calls unpaid by directors 0 0 0
Calls unpaid by officers 0 0 0
Total calls unpaid by directors and
0 0 0
officers
Calls unpaid by others 0 0 0
Total calls unpaid 0 0 0
Forfeited shares 0 0 0
Forfeited shares reissued 0 0 0
Value of shares paid-up 2,37,40,892 2,37,40,892 2,37,40,892
Par value per share [INR/shares] 10
Amount per share called in case shares not fully
[INR/shares] 0
called
Reconciliation of number of shares outstanding
[Abstract]
Changes in number of shares outstanding
[Abstract]
Increase in number of shares outstanding
[Abstract]
Number of shares issued in public offering [shares] 0 [shares] 0 [shares] 0
Number of shares issued as bonus shares [shares] 0 [shares] 0 [shares] 0
Number of shares issued as rights [shares] 0 [shares] 0 [shares] 0
Number of shares issued in private
placement arising out of conversion of
[shares] 0 [shares] 0 [shares] 0
debentures preference shares during
period
Number of shares issued in other private
placement
Number of shares issued as preferential
allotment arising out of conversion of
debentures preference shares during
period
Number of shares issued as other
preferential allotment
Number of shares issued in shares based
payment transactions
208
Number of shares issued under scheme of

amalgamation
Number of other issues of shares [shares] 0 [shares] 0 [shares] 0
Number of shares issued under employee
stock option plan
Number of other issue of shares
arising out of conversion of [shares] 0 [shares] 0 [shares] 0
securities
Total aggregate number of shares issued
during period
Decrease in number of shares during period
[Abstract]
Number of shares bought back or treasury
shares
Other decrease in number of shares [shares] 0 [shares] 0 [shares] 0
Total decrease in number of shares during
period
Total increase (decrease) in number of
shares outstanding
Number of shares outstanding at end of period 237,40,89,150 237,40,89,150
[shares] 237,40,89,150
237,40,89,150
Reconciliation of value of shares outstanding
[Abstract]
Changes in equity share capital [Abstract]
Increase in equity share capital during
period [Abstract]
Amount of public issue during period 0 0 0
Amount of bonus issue during period 0 0 0
Amount of rights issue during period 0 0 0
Amount of private placement issue
arising out of conversion of debentures 0 0 0
preference shares during period
Amount of other private placement issue
0 0 0
during period
Amount of preferential allotment issue
arising out of conversion of debentures 0 0 0
preference shares during period
Amount of other preferential allotment
0 0 0
issue during period
Amount of share based payment
0 0 0
transactions during period
Amount of issue under scheme of
0 0 0
amalgamation during period
Amount of other issues during period 0 0 0
Amount of shares issued under employee
0 0 0
stock option plan
Amount of other issue arising out of
conversion of securities during 0 0 0
period
Total aggregate amount of increase
0 0 0
in equity share capital during period
Decrease in equity share capital during
period [Abstract]
Decrease in amount of treasury shares
0 0 0
or shares bought back
Other decrease in amount of shares 0 0 0
Total decrease in equity share capital
0 0 0
during period
Total increase (decrease) in share capital 0 0 0
Equity share capital at end of period 2,37,40,892 2,37,40,892 2,37,40,892 2,37,40,892
Shares in company held by holding company or
ultimate holding company or by its subsidiaries
or associates [Abstract]
[shares] [shares] (B) [shares]
Shares in company held by holding company 234,79,27,245 234,79,27,245 234,79,27,245
Shares in company held by ultimate holding
company
Shares in company held by subsidiaries of its
holding company
209
Shares in company held by subsidiaries of its

ultimate holding company
Shares in company held by associates of its
holding company
Shares in company held by associates of its
ultimate holding company
Total shares in company held by holding company
or ultimate holding company or by its 234,79,27,245 234,79,27,245 234,79,27,245
subsidiaries or associates
Shares reserved for issue under options
and contracts or commitments for sale of [shares] 0 [shares] 0 [shares] 0
shares or disinvestment
Amount of shares reserved for issue under options
and contracts or commitments for sale of shares or 0 0 0
disinvestment
Aggregate number of fully paid-up shares issued
pursuant to contracts without payment being [shares] 0 [shares] 0 [shares] 0
received in cash during last five years
Aggregate number of fully paid up shares
issued by way of bonus shares during last [shares] 0 [shares] 0 [shares] 0
five years
Aggregate number of shares bought back during
last five years
Original paid-up value of forfeited shares 0 0 0
Details of application money received for
allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of
securities and due for refund and interest
accrued thereon [Abstract]
Application money received for
allotment of securities and due for 0 0 0 0
refund, principal
Application money received for
allotment of securities and due for 0 0 0 0
refund, interest accrued
Total application money received for
allotment of securities and due for refund 0 0 0 0
and interest accrued thereon
Number of shares proposed to be issued [shares] 0 [shares] 0 [shares] 0
Share premium for shares to be allotted 0 0 0
Unquoted Equity
Type of share Shares of Rs.10 each
(A) Paid up Equity Share Capital is Rs.23,74,08,91,500/- divided into 2374089150 Equity Shares (Rounded off to nearest thousand
amount to match with rounding off policy of the company)
(B) Shares held by Gerdau Holdings Europa SA Y CIA S.R.C
210
Disclosure of classes of equity share capital [Table] ..(2)

Classes of equity share capital [Axis] Equity shares 1 [Member]
01/04/2015
to 31/03/2015
31/03/2016
Disclosure of classes of equity share capital [Abstract]
Disclosure of classes of equity share capital [Line items]
Unquoted Equity Shares
Type of share of Rs.10 each
Number of shares authorised [shares] 290,00,00,000
Value of shares authorised 2,90,00,000
Number of shares issued [shares] 237,40,89,200
Value of shares issued 2,37,40,892
Number of shares subscribed and fully paid [shares] 237,40,89,200
Value of shares subscribed and fully paid 2,37,40,892
Number of shares subscribed but not fully paid [shares] 0
Value of shares subscribed but not fully paid 0
Total number of shares subscribed [shares] 237,40,89,200
Total value of shares subscribed 2,37,40,892
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 237,40,89,150
Value of shares called 2,37,40,892
Calls unpaid [Abstract]
Calls unpaid by directors and officers [Abstract]
Calls unpaid by directors 0
Calls unpaid by officers 0
Total calls unpaid by directors and officers 0
Calls unpaid by others 0
Total calls unpaid 0
Forfeited shares 0
Forfeited shares reissued 0
Value of shares paid-up 2,37,40,892
Par value per share [INR/shares] 10
Amount per share called in case shares not fully called [INR/shares] 0
Reconciliation of number of shares outstanding [Abstract]
Changes in number of shares outstanding [Abstract]
Increase in number of shares outstanding [Abstract]
Number of shares issued in public offering [shares] 0
Number of shares issued as bonus shares [shares] 0
Number of shares issued as rights [shares] 0
Number of shares issued in private placement arising out of conversion
[shares] 0
of debentures preference shares during period
Number of shares issued in other private placement [shares] 0
Number of shares issued as preferential allotment arising out of
[shares] 0
conversion of debentures preference shares during period
Number of shares issued as other preferential allotment [shares] 0
Number of shares issued in shares based payment transactions [shares] 0
Number of shares issued under scheme of amalgamation [shares] 0
Number of other issues of shares [shares] 0
Number of shares issued under employee stock option plan [shares] 0
Number of other issue of shares arising out of conversion of securities [shares] 0
Total aggregate number of shares issued during period [shares] 0
Decrease in number of shares during period [Abstract]
Number of shares bought back or treasury shares [shares] 0
Other decrease in number of shares [shares] 0
Total decrease in number of shares during period [shares] 0
Total increase (decrease) in number of shares outstanding [shares] 0
[shares]
Number of shares outstanding at end of period [shares] 237,40,89,150
237,40,89,150
Reconciliation of value of shares outstanding [Abstract]
Changes in equity share capital [Abstract]
Increase in equity share capital during period [Abstract]
Amount of public issue during period 0
211
Amount of bonus issue during period 0

Amount of rights issue during period 0
Amount of private placement issue arising out of conversion of
0
debentures preference shares during period
Amount of other private placement issue during period 0
Amount of preferential allotment issue arising out of conversion of
0
debentures preference shares during period
Amount of other preferential allotment issue during period 0
Amount of share based payment transactions during period 0
Amount of issue under scheme of amalgamation during period 0
Amount of other issues during period 0
Amount of shares issued under employee stock option plan 0
Amount of other issue arising out of conversion of securities during period 0
Total aggregate amount of increase in equity share capital during period 0
Decrease in equity share capital during period [Abstract]
Decrease in amount of treasury shares or shares bought back 0
Other decrease in amount of shares 0
Total decrease in equity share capital during period 0
Total increase (decrease) in share capital 0
Equity share capital at end of period 2,37,40,892 2,37,40,892
Shares in company held by holding company or ultimate holding company or by its
subsidiaries or associates [Abstract]
Shares in company held by holding company [shares] 234,79,27,245
Shares in company held by ultimate holding company [shares] 0
Shares in company held by subsidiaries of its holding company [shares] 0
Shares in company held by subsidiaries of its ultimate holding company [shares] 0
Shares in company held by associates of its holding company [shares] 0
Shares in company held by associates of its ultimate holding company [shares] 0
Total shares in company held by holding company or ultimate holding company
[shares] 234,79,27,245
or by its subsidiaries or associates
Shares reserved for issue under options and contracts or commitments for sale of
[shares] 0
shares or disinvestment
Amount of shares reserved for issue under options and contracts or commitments
0
for sale of shares or disinvestment
Aggregate number of fully paid-up shares issued pursuant to contracts
[shares] 0
without payment being received in cash during last five years
Aggregate number of fully paid up shares issued by way of bonus shares during last
[shares] 0
five years
Aggregate number of shares bought back during last five years [shares] 0
Original paid-up value of forfeited shares 0
Details of application money received for allotment of securities and due for
refund and interest accrued thereon [Abstract]
Application money received for allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of securities and due for refund,
0
principal
Application money received for allotment of securities and due for refund,
0
interest accrued
Total application money received for allotment of securities and due for
0
refund and interest accrued thereon
Number of shares proposed to be issued [shares] 0
Share premium for shares to be allotted 0
Unquoted Equity Shares
Type of share of Rs.10 each

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of notes on equity share capital explanatory [TextBlock] [See below]
Whether there are any shareholders holding more than five per cent
Yes Yes
shares in company
Number of persons on private placement of equity share 0 0
Number of shareholders of company 15 19
Number of allottees in case of preferential allotment 0 0
Whether reduction in capital done during year No No
Whether money raised from public offering during year No No
212
Disclosure of notes on equity share capital explanatory [Text Block]

- Rights, preference and restrictions attached to shares including restrictions on the distribution of dividends and the repayment of capital:
Equity Shares: The Company has only one class of Equity Shares having a par value of Rs. 10 per share. Each holder of Equity Shares is entitled
to one vote per share. The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors, if any, is
subject to approval of the shareholders in the ensuing Annual General Meeting and also restrictions imposed as per Note 54.
- On August 10, 2006, the then Paid up equity share capital of Rs. 1,873,591 ('000), in terms of Modified Scheme of Compromise / Arrangement,
had been reduced to Rs. 299,775 ('000) by transferring Rs. 637,021('000) to Securities Premium Account and converting Rs. 936,796 ('000) into
0.1% Non-cumulative Redeemable Preference Shares of Rs.10/- each.
- The Company had during the financial year 2007-08 issued 6,400,000 share warrants to India Internet Domain Private Limited which entitle the
holder to apply for 6,400,000 equity shares of the Company at a price of Rs 10 per share.(i.e.at par).
- Non-cumulative redeemable preference shares have been disclosed under Note 15 as per explanation in Note 3.18
[400300] Notes - Borrowings
Classification of borrowings [Table] ..(1)

Classification based on current non-current [Axis] Non-current [Member]
Classification of borrowings [Axis] Redeemable preference shares [Member] Term loans from banks [Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member] Secured borrowings [Member]
01/04/2016 01/04/2015
31/03/2017 31/03/2016 to to
31/03/2017 31/03/2016
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [Line items]
Borrowings (A) 80,718 73,748 57,81,901 74,58,584
Nature of security [Abstract]
As per Textual As per Textual
Nature of security Information Information
Details of personal security given by
promoters, other shareholders or other
third parties, though such security does Information Information;;;;
not result in classification of borrowings
as secured
Details on loans guaranteed [Abstract]
Aggregate amount of loans guaranteed by
0 0 73,93,657 75,12,226
directors
0 0 73,93,657 75,12,226
others
Details on defaults on borrowings [Abstract]
Outstanding amount of continuing default
0 0 0 0
principal
0 0 0 0
interest
Footnotes
(A) Preference Shares classified as Debt
213

Foreign currency term loans from banks
Classification of borrowings [Axis] Rupee term loans from banks [Member]
[Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Secured borrowings [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Borrowings (A) 15,71,485 31,69,620 (B) 42,10,416 42,88,964
As per Textual As per Textual As per Textual As per Textual
Nature of security Information Information Information Information
As per Textual As per Textual As per Textual As per Textual
third parties, though such security does Information Information Information Information
as secured
31,83,241 32,23,262 42,10,416 42,88,964
directors
31,83,241 32,23,262 42,10,416 42,88,964
others
0 0 0 0
principal
0 0 0 0
interest
Footnotes
(A) Rupee Term Loans from Punjab National Bank, Funded Interest Term Loan from Punjab National Bank (Interest Free FITL - III),
Funded Interest Loans (FITL - IV- TL& WCL) from Punjab National Bank and Citibank - Term Loan (Net of Current maturities of
long-term debt)
(B) Foreign Currency Loans from HSBC Bank (Mauritius) Limited and Bank of Tokyo-Mitsubishi UFJ. Ltd.
214

Working capital loans from banks Loans and advances from related parties
Classification of borrowings [Axis]
[Member] [Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Unsecured borrowings [Member]
01/04/2016 01/04/2015
to to 31/03/2017 31/03/2016
31/03/2017 31/03/2016
Borrowings (A) 63,759 69,159 1,04,708 95,667
third parties, though such security does Information Information
as secured
63,759 69,159 0 0
directors
63,759 69,159 0 0
others
0 0 0 0
principal
0 0 0 0
interest
Footnotes
(A) Working Capital Loans (WCTL I & WCTL II) and Working Capital Loans (Interest Free FITL-III) from Punjab National Bank

Classification based on current non-current [Axis] Non-current [Member] Current [Member]
Loans and advances from directors Loans repayable on demand from banks
Classification of borrowings [Axis]
[Member] [Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member] Secured borrowings [Member]
01/04/2016 01/04/2015
31/03/2017 31/03/2016 to to
31/03/2017 31/03/2016
Borrowings 1,04,708 95,667 32,09,149 23,42,195
third parties, though such security does Information Information
as secured
0 0 32,09,149 23,42,195
directors
0 0 32,09,149 23,42,195
others
0 0 0 0
principal
0 0 0 0
interest
215

01/04/2016
to
31/03/2017
Disclosure of notes on borrowings explanatory [TextBlock] [See below]
216
Disclosure of notes on borrowings explanatory [Text Block]
Non
Borrowings Current
Current
As at As at
As at As at
March March
April 1, April 1,
31, 31,
2017 2016 2015 2017 2016 2015
Secured at amortised cost:
Loans from other than related parties (Secured):
Term Loans (TL I & TL II):
(As per the Modified Scheme of Compromise / Arrangement)
Rupee Term Loans from banks:
- Punjab National Bank 162,810 189,649 220,937
Working Capital Loans (WCTL I & WCTL II):
From Banks
Funded Interest Term Loan (Interest Free FITL - III) :
From banks:
Working Capital Loans (Interest Free FITL-III):
217
From banks:
Funded Interest Loans (FITL - IV- TL& WCL):
From banks:
- Punjab National Bank - 6,220 13,656
Citibank - Term Loan

3,000,000 3,000,000 3,000,000
Foreign Currency Loans:
- HSBC Bank (Mauritius) Limited - - -

1,619,839 1,651,201 1,552,064
- Bank of Tokyo-Mitsubishi UFJ. Ltd. - - -

2,590,578 2,637,763 2,485,348
Loans repayable on demand
- from Banks
Secured
Citi Bank N.A - - - 57,785 59,066 470,000
J P Morgan chase Bank N.A - - - 579,065 951,243 400,000
Bank of America N.A - - - 887,964 200,000

1,758,619
Deutsch Bank Ltd - - - 813,680 135,402 -
HSBC Ltd - - - - 308,520 522,293
Loans and Advances from related parties (Unsecured):
- Preference Shares classified as Debt 80,718 73,748 67,382 - - -
218
- From a Director 104,708 95,667 87,407 - - -
(Received during the year 2006-07 as per the Modified Scheme of

Compromise/ Arrangement, as interest free unsecured loan, to be
repaid after secured creditors are repaid in full)
7,642,841 7,750,800 7,525,826 3,209,149 2,342,195 1,592,293
Less : Current maturities of long-term debt 53,643 49,082

1,611,755
Total
6,031,086 7,697,158 7,476,745
1) The balances of term loans, working capital loans and funded interest thereon payable to the lenders shown above are as per the Modified
Scheme of Compromise / Arrangement approved by the Honourable High Court of Andhra Pradesh in FY 2007-08 and further Modification to
Master Restructuring Agreement entered between the Company and CDR lenders in the FY 2009-10 (as reduced by the payments made
thereafter) and also includes effects of conversion of term loans into Equity Share Capital.
2) As per the Modification to the Master Restructuring Agreement entered into between the Company and the CDR lenders in the FY 2009-10,
the repayment of term loans and working capital loans (TL 1, TL 2, WCTL I and WCTL II) have been rescheduled to be repayable from the year
2011-12 and up to 2022-23, in quarterly instalments as agreed between the Company and the CDR lenders.
3) Interest Free FITL-III represents interest for the years 2006-07 and 2007-08 which as per the Modification to the Master Restructuring
Agreement have been rescheduled to be repayable from financial year 2016-17 and up to 2019-20, in instalments as agreed between the Company
and the CDR lenders.
4) FITL-II i.e. Contingent Debt is repayable in 10 annual instalments commencing from FY 2028-29. However, in case the Company effects
repayment of Term Loans, on respective due dates, the Contingent Debt shall stand waived on proportionate basis to the repayment of Term
Loans subject to individual lenders having right to adjust the amount being waived as per their convenience within overall period (See Note
No.50)
5) FITL-IV represents the differential interest payable of 8% out of the 9% interest payable to CDR lenders for the period from 1st January, 2009
to 31st March, 2011 which as per the Modification to Master Restructuring Agreement has been converted into a funded term loan. This loan is
repayable from the current year 2011-12 and up to 2017-18, in quarterly instalments as agreed between the Company and the CDR lenders.
6) Foreign Currency Loans: :Loan from HSBC Bank (Mauritius) Limited is repayable on 11th August 2017 and loan from Bank of
Tokyo-Mitsubishi UFJ Ltd., is repayable on 23rd September 2018.
7) During the year 2014-15 the company took a General Purpose Corporate loan from Citibank, N.A., which is repayable on 9th February 2019
with yearly interest reset and with an option to prepay or part pay on the yearly interest reset dates. The part of the proceeds have been utilised to
repay the loan from Standard Chartered Bank.
8) For security in respect of above secured loans See Note No. 55.
9) 18,193,439 (March 31, 2016 - 18,193,439) 0.1% Non-cumulative Redeemable Preference Shares of Rs.10/- each, fully paid considered as
debt at amortised cost.
There has been no movement in Non-cumulative Redeemable Preference Shares during the years ended 31 March 2017 and 31 March 2016.
Terms of redemption of Non-cumulative Redeemable Preference Shares:

The Company has only one class of Non-Cumulative Redeemable Preference Shares having a par value of Rs 10 per share. Non-Cumulative
Redeemable Preference Shares carry a dividend @ 0.1% .The company declares and pays dividends in Indian Rupees. The dividend proposed by
219
the Board of Directors is subject to approval of shareholders in the ensuing Annual General Meeting and also restriction imposed as per Note 54.
220
Non-cumulative Redeemable Preference Shares shall be redeemed on or before March 31, 2026 and if the Company is not able to redeem the
Non-cumulative Redeemable Preference Shares, the Company shall make a fresh issue of Non-cumulative Redeemable Preference Shares of
equivalent amount to the existing holders of Non-cumulative Redeemable Preference Shares.
Details of preference share holders holding more than 5% such shares in the company
As at March 31, As at April 1,
2017 2016 2015
No. of Shares % of holding No. of Shares % of holding No. of Shares % of holding
Non-cumulative Redeemable Preference Shares
Name of the Shareholder
Y. Jithin Kumar (HUF) 10,989,394 60.40% 10,989,394 60.40% 10,989,394 60.40%
Optrex Finexim Private Limited 4,727,750 25.99% 4,727,750 25.99% 4,727,750 25.99%
Y Uma Rani 1,869,285 10.27% 1,869,285 10.27% 1,869,285 10.27%
17,586,429 96.66% 17,586,429 96.66% 17,586,429 96.66%
Note 54: Modified Scheme of Arrangement/ Compromise:
A. The Company entered into a Scheme of Compromise / Arrangement with its Secured Creditors and Equity and Preference Shareholders. This
Scheme was approved by the Honorable High Court of Andhra Pradesh on December 4, 2007 and filed with the Registrar of Companies during
the financial year 2007-08. The cutoff date of restructuring was March 31, 2006. The Scheme was given effect to in the accounts of the year
ended March 31, 2007. The salient features of the Scheme are given below:-
a) 50% of existing Equity Capital were converted into 0.1% Non-Cumulative Redeemable Preference Shares (NCRPS) to be redeemed on or
before March 31, 2026 and if the Company is not able to redeem NCRPS the Company will make fresh issue of NCRPS of the equivalent amount
to the existing holders of NCRPS.
b) Face value of balance existing Equity Share Capital was reduced to Rs. 299,775 by transferring amount of Rs.6,37,021 to the securities
premium account (See Note 4).
c) The utilization of securities premium account shall be with prior approval of majority of the Secured Creditors.
d) Existing term loans including Working Capital loan were restructured into Term Loan-I, Term Loan-II, Working Capital Term Loan-I,
Working Capital Term Loan-II.
e) Term loans to the extent of Rs. 60,000 were converted into Equity at par.
f) Funded interest term loans, existing 12% Preference Shares including Accumulated Dividend thereon were treated as 0% Funded Interest Term
Loan-II (referred as "Contingent Debt") which shall stand waived on proportionate basis to the repayment of Term Loan-I.
221
g) Interest accrued on Term Loan-I and Working Capital Term Loan-I from April 1, 2006 to March 31, 2008 were converted to interest free
Funded Interest Term Loan-III.
h) The Scheme also provides for repayment schedule of the said loans.
i) Existing promoters infused Rs. 180,000 as interest free Unsecured Loan, towards capital expenditure, to be repaid only after Secured Creditors
are repaid in full.
j) Raised up to Rs. 320,000 from Kalyani Steels Ltd as Equity Share Capital towards capital expenditure.
B. The Scheme has imposed certain restrictions on the Company which are given below: The Company shall not incur any major capital
expenditure, save and except those permitted by the majority of Secured Creditors.
a) The Company shall not sell any of its Fixed Assets / Investments save and except those, as permitted by the majority of Secured Creditors.
b) The Company shall not declare any dividend without the prior approval of the majority of Secured Creditors.
c) The Company shall not create any charge or lien or escrow its future cash flows, without the prior approval of the majority of Secured
Creditors.
d) The Company shall agree that any surplus generated by the Company would be utilized for accelerating payments to the Secured Creditors.
e) The Company shall agree to broad base its Board of Directors and Audit Committee of the Board and strengthen its management set-up by
inducting outside professionals in consultation with and to the satisfaction of Secured Creditors.
f) The Secured Creditors shall be entitled to retain or appoint nominees on the Board of Directors of the Company during the currency of the
Secured Credits.
g) The Company shall have the option to prepay without premium all Secured Credits covered by the Scheme any time after three years from the
cutoff date, subject to approval of Secured Creditors.
h) The Company shall furnish written undertaking not to sell/ mortgage/ transfer / alienate in any manner the assets and the properties and the
Company during the currency of the Secured Credits covered under the Scheme, without the prior approval of the majority of Secured Creditors.
i) The Company shall not route its banking transactions outside the consortium member banks, incase consortium is formed at a later date.
j) The Company shall agree that in the event of default to Secured Creditors they shall reserve a right to convert the entire default amount into
equity at par. The Company shall undertake to increase its authorized share capital so as to ensure that Secured Creditors have the option to cover
such defaulted amount into equity.
C. Further, during the year 2009-10 the Company entered into an Agreement of Modification to Master Restructuring Agreement with the
Secured Creditors. This agreement was signed by all the CDR lenders on June 5, 2009.The cutoff date of Modification was January 1, 2009.The
Modification was given effect to in the accounts of the previous year. The salient features of the Modification are given below:-
i) Funded Interest Term Loan (FITL):
Funded Interest Term Loan in respect of all lenders (i.e. interest during construction period) aggregating Rs. 6,306,327 as on cutoff date (i.e.
March 31, 2006) was treated as 0% FITL-II which along with existing 12% CRPS aggregating Rs. 610,345 plus accumulated dividend thereon
amounting to Rs. 332,507 was collectively referred to as Contingent debt. The Contingent debt shall be repayable in 10 annual installments
commencing from financial year 2028-29. However, in case the Company effects repayment of TL-I on stipulated due dates, the contingent debt
shall stand waived on proportional basis to the repayment of TL-I, subject to individual lenders having right to adjust the amount being waived as
per their convenience within the overall period.
222
ii) Working capital Term Loan (WCTL):
Entire outstanding Working Capital facilities from all working capital bankers together aggregating Rs. 511,814 as on March 31, 2006 (including
outstanding L/Cs / BGs) was converted into WCTL and was restructured on the lines of term loan as under:
A) WCTL-I :
WCTL to the extent of Rs. 255,907 (i.e. 50% of the total outstanding) (less repayments of Rs. 13,591 during the year 2009-10) to carry interest @
9% p.a. payable monthly to be repayable as rescheduled in installments as agreed between the Company and the CDR lenders from the current
year 2011-12.
B) WCTL-II :
Balance WCTL of Rs. 255,907 to carry interest @ 1% p.a., payable monthly, to be repayable as rescheduled in installments as agreed between the
Company and the CDR lenders from the current year 2011-12.
iii) Treatment of Interest
A) Payment of interest @ 1% on TL-I and WCTL-I (out of existing rate of 9% pa) during the period January 1, 2009 up to March 31, 2011 shall
be made as and when due on monthly basis. Interest differential (8%) on TL-I and WCTL-I accruing up to March 31, 2011 and carrying interest at
existing rate (9% pa) on simple basis up to March 31, 2011 shall also be funded (FITL-IV). The funded interest along with the interest thereon
will be payable in installments as agreed between the Company and the CDR lenders from the current year 2011-12.
B) Interest on TL-II and WCTL-II shall be paid as per the existing arrangement.
iv) Trust & Retention Account (TRA) :
Bank of India, TRA agent, shall open a TRA account as per the operational convenience of the Company.
v) Lenders shall waive penal interest/ liquidated damages as on cutoff date.
vi) Additional Conditions :
a) Execution of MRA shall be completed without any delay.
b) Any upside in the cash flow of the Company shall be utilized to repay the CDR debt of the Company. Debt bearing interest at 1% shall be paid
off first.
c) Installments of WCTL (margin money) shall be paid to the lenders concerned as agreed by the Company earlier.
d) The Company shall make some repayment so as to ensure that the moratorium does not exceed two years from Cutoff date.
e) The erstwhile promoters shall execute fresh guarantee for CDR debt in token of having accepted the modifications in the existing package.
Save as aforesaid, all other terms and conditions of the earlier Letter of Approval No. BY.CDR (ABP) No. 615 dated July 8, 2006 and loan
agreements entered into between the Company (and predecessor Company) and the lenders shall apply mutatis-mutandis, to the extent not
contrary to the terms of the revised modification package.
223
Note 55: Security
The entire Secured Credits, including FITL, WCTLalong with all interest and other monies thereon, excluding loans from Standard Chartered
Bank, HSBC Bank (Mauritius) Limited and Bank of Tokyo - Mitsubishi UFJ Limited Singapore are secured by the following:
a) First mortgage and charge on all the immovable and movable properties of the Company, both present and future in such form and manner as
may be required by Secured Creditors, subject to the charges created / to be created in favor of the Company's Bankers on current assets for
securing borrowings for working capital requirements. The mortgage and charge shall rank pari-passu with the charges created and / or to be
created in favor of all existing Secured Creditors and they shall have a pari-passu second charge on the current assets of the Company.
b) Irrevocable, joint and several Personal Guarantees of Shri. Y. Janardhana Rao and Shri. Y. Jithin Kumar (erstwhile promoters) and Directors of
the Company.
c) Creation of pledge on pari-passu basis in favor of all Secured Creditors in demat form, in respect of 31,608,503 Equity Shares of the Company,
by erstwhile Promoters and Gerdau Holdings Europa S.A. Y CIA, S.R.C. (Represents 51% of the then aggregate post restructured shareholding of
the company, as per CDR approval dated July 8, 2006).
Loans from HSBC Bank (Mauritius) Limited, CitiBank N.A. and Bank of Tokyo - Mitsubishi UFJ Limited Singaporeare secured by the corporate
guarantee from the ultimate holding company - Gerdau S.A.
Short term borrowings from HSBC Limited, CitiBank N.A., JP Morgan Chase Bank, Deutsch Bank Ltd, and Bank of America N.A.aresecured by
corporate guarantee from the ultimate holding company - Gerdau S.A.
224
[612700] Notes - Income taxes
Disclosure of temporary difference, unused tax losses and unused tax credits [Table] ..(1)
Temporary difference, unused tax losses
Temporary difference, unused tax losses and unused tax credits [Axis] Temporary differences [Member]
and unused tax credits [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Deferred tax relating to items credited (charged)
0 0
directly to equity
Disclosure of temporary difference, unused tax
losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused
tax losses and unused tax credits [Line items]
Deferred tax assets and liabilities [Abstract]
Deferred tax assets 10,81,939 9,24,372
Deferred tax liabilities 10,81,939 9,24,372
Net deferred tax liability (assets) 0 0
Net deferred tax assets and liabilities
[Abstract]
Net deferred tax assets 10,81,939 9,24,372
Net deferred tax liabilities 10,81,939 9,24,372
Deferred tax expense (income) [Abstract]
Deferred tax expense (income) 0 0
Deferred tax expense (income)
0 0
recognised in profit or loss
Reconciliation of changes in deferred tax
liability (assets) [Abstract]
Changes in deferred tax liability (assets)
[Abstract]
0 0
Deferred tax relating to items
0 0
credited (charged) directly to equity
Total increase (decrease) in deferred
0 0
tax liability (assets)
Deferred tax liability (assets) at end of
0 0
period
225
Temporary
Temporary difference, unused tax losses and unused tax credits [Axis] differences Allowance for credit losses [Member]
[Member]
01/04/2016 01/04/2015
31/03/2015 to to 31/03/2015
31/03/2017 31/03/2016
Disclosure of temporary difference, unused tax
losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused
tax losses and unused tax credits [Line items]
Deferred tax assets 4,03,400 10,81,939 9,24,372 4,03,400
Deferred tax liabilities 4,03,400 0 0 0
Net deferred tax liability (assets) 0 -10,81,939 -9,24,372 -4,03,400
Net deferred tax assets and liabilities
[Abstract]
Net deferred tax assets 10,81,939 9,24,372
Net deferred tax liabilities 0 0
-1,57,567 -5,20,972
Reconciliation of changes in deferred tax
Changes in deferred tax liability (assets)
[Abstract]
-1,57,567 -5,20,972
Total increase (decrease) in deferred
-1,57,567 -5,20,972
tax liability (assets)
Deferred tax liability (assets) at end of
0 -10,81,939 -9,24,372 -4,03,400
period
Temporary difference, unused tax losses and unused tax credits [Axis] Depreciation amortisation impairment [Member]
01/04/2016 01/04/2015
to to 31/03/2015
31/03/2017 31/03/2016
Disclosure of temporary difference, unused tax losses and unused tax
credits [Abstract]
Disclosure of temporary difference, unused tax losses and unused
tax credits [Line items]
Deferred tax assets 0 0 0
Deferred tax liabilities 10,81,939 9,24,372 4,03,400
Net deferred tax liability (assets) 10,81,939 9,24,372 4,03,400
Net deferred tax assets and liabilities [Abstract]
Net deferred tax assets 0 0
Net deferred tax liabilities 10,81,939 9,24,372
Deferred tax expense (income) recognised in profit or loss 1,57,567 5,20,972
Reconciliation of changes in deferred tax liability (assets)
[Abstract]
Changes in deferred tax liability (assets) [Abstract]
Deferred tax expense (income) recognised in profit or loss 1,57,567 5,20,972
Total increase (decrease) in deferred tax liability
1,57,567 5,20,972
(assets)
Deferred tax liability (assets) at end of period 10,81,939 9,24,372 4,03,400
226

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of income tax [TextBlock] [See below]
Major components of tax expense (income) [Abstract]
Current tax expense (income) and adjustments for current tax of prior
periods [Abstract]
Current tax expense (income) 0 0
Adjustments for current tax of prior periods 0 0
Total current tax expense (income) and adjustments for current tax
0 0
of prior periods
Total tax expense (income) 0 0
Current and deferred tax relating to items charged or credited directly
to equity [Abstract]
Current tax relating to items credited (charged) directly to equity 0 0
Deferred tax relating to items credited (charged) directly to equity 0 0
Total aggregate current and deferred tax relating to items credited
0 0
(charged) directly to equity
Income tax relating to components of other comprehensive income [Abstract]
Income tax relating to remeasurements of defined benefit plans of
0 0
other comprehensive income
Total aggregated income tax relating to components of other
0 0
comprehensive income
credits [TextBlock]
credits [Abstract]
Net deferred tax assets and liabilities [Abstract]
Reconciliation of changes in deferred tax liability (assets)
[Abstract]
Changes in deferred tax liability (assets) [Abstract]
Deferred tax relating to items credited (charged) directly
0 0
to equity
Reconciliation of accounting profit multiplied by applicable tax rates
[Abstract]
Accounting profit -6,55,741 -9,40,136
Tax expense (income) at applicable tax rate 0 0
Tax effect of revenues exempt from taxation 0 0
Tax effect of expense not deductible in determining taxable profit (tax
0 0
loss)
Tax effect of impairment of goodwill 0 0
Tax effect of tax losses 0 0
Tax effect of foreign tax rates 0 0
Tax effect from change in tax rate 0 0
Other tax effects for reconciliation between accounting profit and tax
0 0
expense (income)
Total tax expense (income) 0 0
Reconciliation of average effective tax rate and applicable tax rate
[Abstract]
Accounting profit -6,55,741 -9,40,136
Applicable tax rate 0.00% 0.00%
Tax rate effect of revenues exempt from taxation 0.00% 0.00%
Tax rate effect of expense not deductible in determining taxable
0.00% 0.00%
profit (tax loss)
Tax rate effect of impairment of goodwill 0.00% 0.00%
Tax rate effect of tax losses 0.00% 0.00%
Tax rate effect of foreign tax rates 0.00% 0.00%
Tax rate effect from change in tax rate 0.00% 0.00%
Tax rate effect of adjustments for current tax of prior periods 0.00% 0.00%
Other tax rate effects for reconciliation between accounting profit
0.00% 0.00%
and tax expense (income)
Total average effective tax rate 0.00% 0.00%
227
Disclosure of income tax [Text Block]
Deferred tax assets/ liabilities (net) As at March 31, As at April 1,
Deductible temporary differences 2017 2016 2015
Unabsorbed Depreciation / Business Loss as per Income Tax 1,081,939 924,372 403,400
1,081,939 924,372 403,400
Taxable temporary differences
Difference between WDV of fixed assets as per books and Income taxes 1,081,939 924,372 403,400
1,081,939 924,372 403,400
Net deferred tax asset/ (liabilities) - - -
The Analysis of Deferred tax Assets and Deferred tax Laibilities is as follows: As at March 31, As at April 1,
2017 2016 2015
Deferred Tax Assets:
Deferred Tax Assets to be recovered after more than 12 months 1,081,939 924,372 403,400
Deferred Tax Assets to be recovered within 12 months - - -
1,081,939 924,372 403,400
Deferred Tax Liabilities
Deferred Tax Liabilities to be recovered after more than 12 months 1,081,939 924,372 403,400
Deferred Tax Liabilities to be recovered within 12 months
1,081,939 924,372 403,400
228
- The company has not made any provision for Income Tax for the current year as the company has incurred losses and deferred tax asset has not
been recognized due to the uncertainty regarding availability of future taxable profits against which such assets can be realized.
[611000] Notes - Exploration for and evaluation of mineral resources

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of exploration and evaluation assets [TextBlock]
Whether there are any exploration and evaluation activities No No
[611900] Notes - Accounting for government grants and disclosure of government assistance
01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of accounting for government grants and disclosure of government
assistance [TextBlock]
Whether company has received any government grant or government assistance No No
[401100] Notes - Subclassification and notes on liabilities and assets
Classification of inventories [Table] ..(1)

Raw materials
Classification of inventories [Axis] Company inventories [Member]
[Member]
01/04/2016 01/04/2015 01/04/2016
to to 31/03/2015 to
31/03/2017 31/03/2016 31/03/2017
Subclassification and notes on liabilities and assets
[Abstract]
Inventories notes [Abstract]
Classification of inventories [Abstract]
Classification of inventories [Line items]
Inventories 33,35,184 25,21,108 29,07,218 15,33,549
Goods in transit 71,769 12,212 0
Lower of cost and net Lower of cost and net Lower of cost and
Mode of valuation realisable value realisable value net realisable value

Raw materials Finished goods
Classification of inventories [Axis] Work-in-progress [Member]
[Member] [Member]
01/04/2015 01/04/2016 01/04/2015 01/04/2016
to to to to
31/03/2016 31/03/2017 31/03/2016 31/03/2017
[Abstract]
Inventories 12,07,119 40,873 84,830 8,02,679
Goods in transit 143 0 0 10,565
Lower of cost and Lower of cost and Lower of cost and net Lower of cost and
Mode of valuation net realisable value net realisable value realisable value net realisable value
229

Finished goods Other inventories
Classification of inventories [Axis] Stores and spares [Member]
[Member] [Member]
01/04/2015 01/04/2016 01/04/2015 01/04/2016
to to to to
31/03/2016 31/03/2017 31/03/2016 31/03/2017
[Abstract]
Inventories 8,33,639 2,23,097 1,89,127 6,63,217
Goods in transit 12,069 0 0 61,204
Lower of cost and Lower of cost and Lower of cost and net Lower of cost and
Mode of valuation net realisable value net realisable value realisable value net realisable value
Nature of other inventories Semi finished goods

Other inventories
Classification of inventories [Axis] Other inventories, others [Member]
[Member]
01/04/2015 01/04/2016 01/04/2015
to to to
31/03/2016 31/03/2017 31/03/2016
Subclassification and notes on liabilities and assets [Abstract]
Inventories 1,94,181 6,63,217 1,94,181
Goods in transit 0 61,204 0
Lower of cost and Lower of cost and Lower of cost and net
Mode of valuation net realisable value net realisable value realisable value
Nature of other inventories Semi finished goods Semi finished goods Semi finished goods
Other current financial assets others [Table] ..(1)

Other current financial assets others [Axis] Others1 Others2
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Other current financial assets [Abstract]
Other current financial assets others 28,670 0 19,563 15,930
Other current financial assets others [Abstract]
Other current financial assets others [Line
items]
Bank deposits with Bank deposits with
Description other current financial assets maturity more than 3 maturity more than 3 Accrued Interest On Accrued Interest On
others months and less than months and less than Deposits with Bank Deposits with Bank
12 months 12 months
Other current financial assets others 28,670 0 19,563 15,930
230
Other non-current financial assets, others [Table] ..(1)

Classification of other non-current financial assets others [Axis] Others1 Others2
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Other non-current financial assets notes [Abstract]
Other non-current financial assets [Abstract]
Other non-current financial assets, others 4,391 4,012 53,700 33,880
Other non-current financial assets, others
[Abstract]
Other non-current financial assets, others
[Line items]
Bank deposits with Bank deposits with
Description other non-current financial
Security deposits Security deposits more than 12 more than 12 months
assets, others months maturity maturity
Other non-current financial assets, others 4,391 4,012 53,700 33,880
Disclosure of breakup of provisions [Table] ..(1)

31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Provisions notes [Abstract]
Disclosure of breakup of provisions [Abstract]
Disclosure of breakup of provisions [Line items]
Provisions [Abstract]
Provisions for employee benefits
[Abstract]
Provision gratuity 13,023 9,888 0 0
Provision leave encashment 40,167 30,930 8,680 6,967
Provision other employee related
0 0 (A) 3,729 3,631
liabilities
Total provisions for employee benefits 53,190 40,818 12,409 10,598
Provision for corporate tax [Abstract]
Provision for wealth tax 0 0 29,038 29,038
Total provision for corporate tax 0 0 29,038 29,038
Provision for statutory liabilities 0 0 (B) 54,013 54,013
CSR expenditure provision 0 0 0 0
Total provisions 53,190 40,818 95,460 93,649
Footnotes
(A) Provision for LTA
(B) Provision for litigation/disputes represents claims against the Company not acknowledged as debts that are expected to materialise in
respect of matters in litigation.
231
Details of advances [Table] ..(1)

Classification of advances [Axis] Capital advances [Member] Security deposits [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 15,232 82,980 70,078 1,06,307
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Advance due by others 15,232 82,980 70,078 1,06,307
Total advance due by directors other
15,232 82,980 70,078 1,06,307
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
0 0 0 0
director is partner
Advance due by private companies in
0 0 0 0
which any director is director
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

Classification of advances [Axis] Security deposits [Member] Advances value be received [Member]
Classification of assets based on security [Axis] Doubtful [Member] Unsecured considered good [Member]
01/04/2016 01/04/2015
31/03/2017 31/03/2016 to to
31/03/2017 31/03/2016
[Abstract]
Advances (A) 0 2,28,020 12,814 13,261
Nature of other advance Lease prepayments Lease prepayments
Advance due by others 0 2,28,020 12,814 13,261
0 2,28,020 12,814 13,261
officers or others
0 0 0 0
director is partner
0 0 0 0
0 0 0 0
232
Footnotes
(A) Net of Impairment of deposits Rs.2,27,018 ('000)

Classification of advances [Axis] Prepaid expenses [Member] Advance tax [Member]
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Advances 4,887 1,874 27,190 35,749
Advance due by others 4,887 1,874 27,190 35,749
4,887 1,874 27,190 35,749
officers or others
0 0 0 0
director is partner
0 0 0 0
0 0 0 0

Classification of advances [Axis] Advance income tax paid [Member] Cenvat receivable [Member]
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Advances (A) 27,190 35,749 36,356 79,480
27,190 35,749 36,356 79,480
officers or others
0 0 0 0
director is partner
0 0 0 0
0 0 0 0
233
Footnotes
(A) Advance income tax (net of provision for taxation)

Deposits with statutory authorities
Classification of advances [Axis] Advances given suppliers [Member]
[Member]
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Advances 1,39,073 1,76,531 2,25,649 61,194
Advance due by others 1,39,073 1,76,531 2,25,649 61,194
1,39,073 1,76,531 2,25,649 61,194
officers or others
0 0 0 0
director is partner
0 0 0 0
0 0 0 0
234

Classification based on current non-current [Axis] Current [Member]
Classification of advances [Axis] Advances given employees [Member] Advances value be received [Member]
01/04/2016 01/04/2015
31/03/2017 31/03/2016 to to
31/03/2017 31/03/2016
[Abstract]
Advances 649 2,709 448 448
Nature of other advance Lease prepayments Lease prepayments
Advance due by others 649 2,709 448 448
649 2,709 448 448
officers or others
0 0 0 0
director is partner
0 0 0 0
0 0 0 0

Classification of advances [Axis] Prepaid expenses [Member] Cenvat receivable [Member]
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Advances 20,786 15,084 62,109 70,716
20,786 15,084 62,109 70,716
officers or others
0 0 0 0
director is partner
0 0 0 0
0 0 0 0
235

Classification of advances [Axis] Other advances, others [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member]
31/03/2017 31/03/2016
Advances 5,828 8,051
Details of advance due by directors other officers or others [Abstract]
Advance due by directors 0 0
Advance due by other officers 0 0
Advance due by others 5,828 8,051
Total advance due by directors other officers or others 5,828 8,051
Details of advance due by firms or companies in which any director is
partner or director [Abstract]
Advance due by firms in which any director is partner 0 0
Advance due by private companies in which any director is director 0 0
Advance due by private companies in which any director is member 0 0
Total advance due by firms or companies in which any director is partner
0 0
or director
Subclassification of trade receivables [Table] ..(1)

Classification of assets based on security
Classification of assets based on security [Axis] Unsecured considered good [Member]
[Member]
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Disclosure of notes on trade receivables [Abstract]
Subclassification of trade receivables [Abstract]
Subclassification of trade receivables [Line
items]
Breakup of trade receivables [Abstract]
Trade receivables, gross 12,51,969 8,95,735 12,46,183 8,89,891
Allowance for bad and doubtful debts 5,786 5,844 0 0
Total trade receivables 12,46,183 8,89,891 12,46,183 8,89,891
Details of trade receivables due by
directors, other officers or others
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Trade receivables due by others 12,46,183 8,89,891
Total trade receivables due by
12,46,183 8,89,891
directors, other officers or others
Details of trade receivables due by firms
or companies in which any director is
partner or director [Abstract]
Trade receivables due by firms in
0 0
which any director is partner
Trade receivables due by private
companies in which any director is 0 0
director
Trade receivables due by private
companies in which any director is 0 0
member
Total trade receivables due by
firms or companies in which any 0 0
director is partner or director
236
Subclassification of trade receivables [Table] ..(2)

Classification of assets based on security [Axis] Doubtful [Member]
31/03/2017 31/03/2016
Disclosure of notes on trade receivables [Abstract]
Subclassification of trade receivables [Abstract]
Subclassification of trade receivables [Line items]
Breakup of trade receivables [Abstract]
Trade receivables, gross 5,786 5,844
Allowance for bad and doubtful debts 5,786 5,844
Total trade receivables 0 0
Details of trade receivables due by directors, other officers or others
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Trade receivables due by others 5,786 5,844
Total trade receivables due by directors, other officers or others 5,786 5,844
Details of trade receivables due by firms or companies in which any
director is partner or director [Abstract]
Trade receivables due by firms in which any director is partner 0 0
Trade receivables due by private companies in which any director is director 0 0
Trade receivables due by private companies in which any director is member 0 0
Total trade receivables due by firms or companies in which any director
0 0
237

01/04/2016 01/04/2015
to to 31/03/2015
31/03/2017 31/03/2016
Disclosure of subclassification and notes on liabilities and assets
explanatory [TextBlock]
Disclosure of notes on trade receivables explanatory [TextBlock] [See below]
Derivative assets (A) 80,545
1,71,517 0
Total other non-current financial assets 1,38,636 2,09,409 40,670
The Company does not

have any amounts due by
Disclosure of notes on other non-current assets explanatory
directors, other
[TextBlock] officers of the
Company.
Advances, non-current 3,05,630 7,24,202 13,05,065

Total other non-current assets 3,05,630 7,24,202 13,05,065
Disclosure of inventories Explanatory [TextBlock] [See below]
Description of accounting policy for measuring inventories Textual information (70)
Inventories, at fair value less costs to sell 0 0
Inventories, at net realisable value 0 0
Inventory write-down 0 0
Reversal of inventory write-down 0 0
Cost of inventories recognised as expense during period 0 0
Inventories pledged as security for liabilities 0 0
Disclosure of notes on cash and bank balances explanatory [TextBlock]
Fixed deposits with banks 0 0 0
Other deposits with banks (B) 3,480

0 0
Other balances with banks (C) 26,318

1,06,271 1,65,913
Total balance with banks 29,798 1,06,271 1,65,913

Cash on hand 97 234 312
Total cash and cash equivalents 29,895 1,06,505 1,66,225
Bank balance other than cash and cash equivalents 0 0 0
Total cash and bank balances 29,895 1,06,505 1,66,225
Earmarked balances with banks 0 0
Balances held with banks to extent held as margin money 0 0
Balances held with banks to extent held as security against
0 0
borrowings
Balances held with banks to extent held as guarantees 0 0
Balances held with banks to extent held against other
0 0
commitments
Total balances held with banks to extent held as
margin money or security against borrowings, 0 0
guarantees or other commitments
Bank deposits with more than 12 months maturity 53,700 33,880
Security deposits 86,125 67,434 10,405
Total other current financial assets 1,34,358 83,364 27,042
The Company does not

have any amounts due by
Disclosure of notes on other current assets explanatory [TextBlock] directors, other
officers of the
Company.
Advances, current 3,15,470 1,58,202 10,28,927

Total other current assets 3,15,470 1,58,202 10,28,927
Derivative liabilities, Non-current (D) 0 0 94,772
Total other non-current financial liabilities 0 0 94,772
Current maturities of long-term debt 16,11,755 53,643 49,082
Interest accrued on borrowings 0 0 0
Interest accrued on public deposits 0 0 0
Interest accrued others 0 0 0
Unpaid dividends 0 0 0
238
Unpaid matured deposits and interest accrued thereon 0 0 0

Unpaid matured debentures and interest accrued thereon 0 0 0
Debentures claimed but not paid 0 0 0
Public deposit payable, current 0 0 0
Total other current financial liabilities 16,11,755 53,643 49,082
Advance received from customers 9,151 15,985 36,651
Total other advance 9,151 15,985 36,651
Other deposits refundable, current (E) 0 4,180 7,442
Total deposits refundable current 0 4,180 7,442
Taxes payable other tax 42,896 1,23,454 1,88,785
Accrued expenses payable (F) 72,864

78,005 49,015
Current liabilities portion of share application money pending

0 0 0
allotment
Total other payables, current 1,15,760 2,01,459 2,37,800
Bills payable acceptances (G) 21,465

1,71,484 5,47,538
Contribution to provident fund scheme 809 1,531 1,907

Total other current liabilities 1,47,185 3,94,639 8,32,538
Footnotes
(A) Derivatives not designated as hedges - Forward contracts and Cross Currency Swap
(B) Balances with banks - Deposits with original maturity of less than 3 months
(C) Balances with banks on current accounts
(D) Forward contracts and Cross Currency Swap
(E) Retention Money payable for capital goods
(F) Interest accrued and due & Interest accrued and not-due on borrowings
(G) Creditors for Capital Goods
239
Disclosure of notes on trade receivables explanatory [Text Block]

The Company does not have any debts due by directors, other officers of the Company.
The entity has used a practical expedient by computing the expected credit loss allowance for trade receivables based on a provision matrix. The
provision matrix takes into account historical credit loss experience and adjusted for forward-looking information. The expected credit loss
allowance is based on the ageing of the days the receivables are due and the rates as given in the provision matrix. The provision matrix at the end
of the reporting period is as follows :
Expected credit loss (%)
Ageing 2017 2016 2015
Within the credit period 0.10% 0.10% 0.10%
0-1 Months past due 0.25% 0.25% 0.25%
1-2 Months past due 1.00% 1.00% 1.00%
2-3 Months past due 2.00% 2.00% 2.00%
3-6 Months past due 5.00% 5.00% 5.00%
6-12 Months past due 13.01% 13.01% 13.01%
12 Months past due 96.00% 96.00% 96.00%
Age of receivables As at March 31,
2017 2016 2015
Within the credit period 993,052 691,153 949,766
0-1 Months past due 226,119 133,214 123,847
1-2 Months past due 19,055 35,904 20,186
2-3 Months past due 2,380 11,751 269
3-6 Months past due 2,158 7,405 1,875
240
6-12 Months past due 6,120 2,477 219
12 Months past due 3,086 13,831 13,831
1,251,969 895,735 1,109,991
Year ended March

Movement in the expected credit loss allowance
31,
2017 2016
Balance at beginning of the year (5,844) (15,420)
Movement in expected credit loss allowance on trade receivables calculated at lifetime expected
58 9,575
credit losses
Balance at end of the year (5,786) (5,844)
The concentration of credit risk is limited due to the fact that the customer base is large and unrelated.
Disclosure of inventories Explanatory [Text Block]

In view of the technical nature of the operations, the Company had engaged an expert to carry out physical verification of inventories as at year
end. Inventory of Semi finished goods in the nature of Scrap aggregating to Rs.206,128('000) was not covered in the physical verification owing
to the inherent nature of the goods. Stores and Spares aggregating to Rs. 220,766('000) (including excise duty) were not covered under physical
verification due to its voluminous nature. Inventory in transit amounts to Rs. 71,769('000).
Description of accounting policy for measuring inventories [Text Block]

Raw materials, stores and spares are valued at lower of cost and net realizable value. However, materials and other items held for use in the
production of inventories are not written down below cost if the finished products in which they will be incorporated are expected to be sold at or
above cost. Cost of raw materials, components and stores and spares is determined on a weighted average basis.
Work-in-progress and finished goods are valued at lower of cost and net realizable value. Cost includes direct materials, labour, other direct cost
and aproportion of manufacturing over heads based on normal operating capacity. Cost of finished goods includes excise duty and is determined
on a weighted average basis. Excise duty is accounted for at the point of manufacture of goods and accordingly, is considered for valuation of
finished goods stock lying in the factories and depots as on the Balance Sheet date.
Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and estimated costs
necessary to make the sale.
241
[401200] Notes - Additional disclosures on balance sheet
Details of disclosures required under MSMED Act 2006 [Table] ..(1)

Micro small medium enterprises [Axis] MSMED
01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Additional balance sheet notes [Abstract]
Details of disclosures required under MSMED Act 2006 [Abstract]
Details of disclosures required under MSMED Act 2006 [Line items]
Principal and interest due remaining unpaid [Abstract]
Principal due remaining unpaid 11,948 6,365
Interest due remaining unpaid 14 223
Total principal and interest due remaining unpaid 11,962 6,588
Amount of interest paid under MSMED Act 2006 0 0
Amount of payments made to supplier beyond due date during year 0 0
Amount of interest due and payable for period 14 223
Amount of interest accrued and remaining unpaid at end of accounting year 237 223
Amount of further interest due and payable even in succeeding year 0 0
Maximum amount outstanding for period from micro small medium enterprises 0 0
Name supplier being micro small medium enterprises Various Various
Details of specified bank Notes held and transacted during the period from 8 November 2016 to 30 December 2016 [Table] ..(1)
Total of SBN and Other
Specified bank
Total of SBN and other notification notes [Axis] other notification denomination notes
Notes [Member]
notes [Member] [ Member]
01/04/2016 01/04/2016 01/04/2016
to to to
31/03/2017 31/03/2017 31/03/2017
Details of specified bank Notes held and transacted during
the period from 8 November 2016 to 30 December 2016 [Abstract]
Details of specified bank Notes held and transacted during
the period from 8 November2016 to 30 December2016
[LineItems]
Closing balance as at 8 November 2016 102 81 21
Changes in cash in hand during the period from 8 November
2016 to 30 December 2016 [Abstract]
Permitted receipted 303 0 303
Permitted payments 212 0 212
Amount deposited in banks 84 81 3
Total changes in cash in hand during the period from 8
7 -81 88
november 2016 to 30 december 2016
Closing balance as at 30 December 2016 109 0 109
242
Details of shareholding pattern of promoters and public [Table] ..(1)

Shareholding pattern of promoters and public [Axis] Promoters [Member] Public shareholding [Member]
Classification based on nationality or origin [Axis] Foreign [Member] Indian [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Details of shareholding pattern of promoters and
public [Abstract]
Details of shareholding pattern of promoters and
public [LineItems]
Number of shares held by Indian [shares] 6,96,419 [shares] 6,96,419
Percentage of shares held by Indian 0.03% 0.03%
Number of shares held by banks [shares] 3,40,000 [shares] 3,40,000
Percentage of shares held by banks 0.01% 0.01%
[shares] [shares]
Number of shares held by body corporate 234,79,27,245 234,79,27,245
[shares] 16,44,080 [shares] 16,44,080
Percentage of shares held by body corporate 98.90% 98.90% 0.07% 0.07%

Number of shares held by others [shares] 2,34,81,406 [shares] 2,34,81,406
Percentage of shares held by others 0.99% 0.99%
[shares] [shares]
Total number of shares 234,79,27,245 234,79,27,245
[shares] 2,61,61,905 [shares] 2,61,61,905
Total of percentage shares 98.90% 98.90% 1.10% 1.10%
243

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of additional balance sheet notes explanatory [TextBlock] [See below]
Contingent liabilities and commitments [Abstract]
Classification of contingent liabilities [Abstract]
Claims against company not acknowledged as debt 44,698 44,698
Other money for which company is contingently liable (A) 2,17,865

2,83,826
Total contingent liabilities 2,62,563 3,28,524

Classification of commitments [Abstract]
Estimated amount of contracts remaining to be executed on
8,40,122
capital account and not provided for (B) 1,17,900
Total commitments 1,17,900 8,40,122
Total contingent liabilities and commitments 3,80,463 11,68,646
Details regarding dividends [Abstract]
Amount of dividends proposed to be distributed to equity shareholders 0 0
Amount of per share dividend proposed to be distributed to equity
[INR/shares] 0 [INR/shares] 0
shareholders
Amount of dividends proposed to be distributed to preference
0 0
shareholders
Amount of per share dividend proposed to be distributed to
[INR/shares] 0 [INR/shares] 0
preference shareholders
Arrears of fixed cumulative dividends on preference shares 0 0
Percentage of proposed dividend 0.00% 0.00%
Details of outstanding unutilised amounts received in respect of
issue of securities for specific purpose [Abstract]
Outstanding unutilised amounts received in respect of issue of
0 0
securities for specific purpose
Amount of unutilised amounts invested 0 0
Details of disclosures required under MSMED Act 2006 [Abstract]
Principal and interest due remaining unpaid [Abstract]
Details of share capital held by foreign companies [Abstract]
Percentage of share capital held by foreign company 98.90% 98.90%
Value of share capital held by foreign company 2,34,79,272 2,34,79,272
Percentage of paid-up capital held by foreign holding company and
98.90% 98.90%
or with its subsidiaries
Value of paid-up capital held by foreign holding company and or
2,34,79,272 2,34,79,272
with its subsidiaries
Details of shareholding pattern of promoters and public [Abstract]
Number of shareholders promoters 1 1
Number of shareholders public 14 18
Total number of shareholders promoters and public 15 19
Details of deposits [Abstract]
Deposits accepted or renewed during period 0 0
Deposits matured and claimed but not paid during period 0 0
Deposits matured and claimed but not paid 0 0
Deposits matured but not claimed 0 0
Interest on deposits accrued and due but not paid 0 0
Disclosure of equity share warrants [Abstract]
Changes in equity share warrants during period [Abstract]
Additions to equity share warrants during period 0 0
Deductions in equity share warrants during period 0 0
Total changes in equity share warrants during period 0 0
Equity share warrants at end of period 0 0
Breakup of equity share warrants [Abstract]
Equity share warrants for existing members 0 0
Equity share warrants for others 0 0
Total equity share warrants 0 0
Details of share application money received and paid [Abstract]
Share application money received during year 0 0
Share application money paid during year 0 0
Amount of share application money received back during year 0 0
Amount of share application money repaid returned back during year 0 0
244
Number of person share application money paid during year 0 0

Number of person share application money received during year 0 0
Number of person share application money paid as at end of year 0 0
Number of person share application money received as at end of year 0 0
Share application money received and due for refund 0 0
Disclosure of whether all assets and liabilities are registered with
Yes Yes
company
Details regarding cost records and cost audit[Abstract]
Details regarding cost records [Abstract]
Whether maintenance of cost records by company has been
mandated under Companies (Cost Records and Audit) Rules, Yes Yes
2014
If yes, Central Excise Tariff Act, heading in which product/
7201,7207 &7213 7201,7207 &7213
service is covered under cost records
Details regarding cost audit [Abstract]
Whether audit of cost records of company has been mandated
No No
under Rules specified in SN 1
Net worth of company 84,49,444 91,11,012
Details of unclaimed liabilities [Abstract]
Unclaimed share application refund money 0 0
Unclaimed matured debentures 0 0
Unclaimed matured deposits 0 0
Interest unclaimed amount 0 0
Financial parameters balance sheet items [Abstract]
Investment in subsidiary companies 0 0
Investment in government companies 0 0
Amount due for transfer to investor education and protection fund
0 0
(IEPF)
Gross value of transactions with related parties 0 0
Number of warrants converted into equity shares during period 0 0
Number of warrants converted into preference shares during period 0 0
Number of warrants converted into debentures during period 0 0
Number of warrants issued during period (in foreign currency) 0 0
Number of warrants issued during period (INR) 0 0
Number of shareholders to whom shares are allotted under private
0 0
placement during period
Details of specified bank Notes held and transacted during the
period from 8 November 2016 to 30 December 2016 [Abstract]
Changes in cash in hand during the period from 8 November
2016 to 30 December 2016 [Abstract]
Footnotes
(A) Excise Demands-Matters under Dispute, Income-tax demand & Sales tax matters
(B) Tangible assets & Intangible assets
245
Disclosure of additional balance sheet notes explanatory [Text Block]

- Capital and other commitments :
Other commitments:
i) The Company has in the year 2012-13 entered into a modification agreement with Inox Air Products Limited for manufacture and purchase of
industrial gases. As per the terms of the agreement, If the Company does not purchase a minimum quantity, The Company has to pay minimum
take or pay base facility charges of Rs.221 (000') per day ((March 31, 2016: Rs.221 (000') per day), Unit charges for oxygen and nitrogen
Rs.2.33/sm3 ((March 31, 2015: Rs.2.33/sm3) and for Argon Rs.26.68/sm3 (March 31, 2016: Rs.26.68/sm3) (plus escalation based on wholesale
price index published by Reserve Bank Of India).
ii) The Company entered into an agreement on 13 March, 2015, with M/s Praxair India Pvt Ltd for manufacture and supply of Industrial gases for
PCI (Pulvarised Coal Injection) Project where the minimum base monthly fee is Rs.2,530 ('000) exclusive of taxes. The agreement is entered for a
period of 16 years from the date of first delivery, which is yet to take place, with escalation clause for fees based on change in Wholesale Price
Index for all commodities published by Economic Advisor, Ministry of Commerce, GOI
- Details of dues to micro and small enterprises as defined under the MSMED Act, 2006 :
Note:-The amounts due to Micro, Small and Medium Enterprises represented above are as per the information available with the company
- Contingent Debt and Contingent Charge:
The "Modified Scheme of Compromise / Arrangement" (Scheme) sanctioned by the honorable High Court requires the Preference Share Capital
together with accrued undeclared dividend and funded interest to be converted into a Funded Interest Term Loan II classified as Contingent Debt
eligible for waiver upon satisfaction of conditions precedent. The Management is in the process of negotiating the terms of settlement with Punjab
National bank and is optimistic that the settlement would be concluded within the foreseeable future. The company has also been regular in
repayment of the quarterly instalments pertaining to this loan. In view of the remote possibility of the revocation of the waiver of contingent debt
by Punjab National Bank, the contingent debt and contingent charge in respect of this loan outstanding has not been recognizedby the
Management.
- Onerous Contracts represents contracts where the unavoidable costs to be incurred are in excess of economic benefits expected to be received in
respect of sales orders accepted on or before the balance sheet but not executed. As on March 31, 2017, the Company does not have any open sale
contracts where the variable product cost to produce the finished goods exceed the agreed sale consideration. Accordingly, the Company has not
provided for any onerous contracts.
- Balances of trade receivables, trade payables, including advances given and advance received are subject to confirmations& reconciliation.
- The State Government of Andhra Pradesh has approved a special package of incentives under Mega project concept of Industrial Investment
Promotion Policy (IIPP) 2010-15 to the Company for their expansion and diversification project in Anantapur, as per which the Company is
entitled to 50% VAT/CST reimbursement for a period of 5 years from the date of commencement of commercial production on the end products
viz. Bars and Rods. The Company has filed the necessary forms in this regard up to March 2016 within the applicable timelines. However, the
Company is yet to receive this incentive as at the end of the reporting period and accordingly no effect of this has been made in the financial
statements.
- Previous year figures have been regrouped/ reclassified to conform to current year's classification.
- There are no significant events after reporting date which require amendments or disclosure to the financial statements.
246
[611800] Notes - Revenue

01/04/2016
to
31/03/2017
Disclosure of revenue [TextBlock] As per below:

Description of accounting policy for recognition of revenue [TextBlock] [See below]
Description of accounting policy for recognition of revenue [Text Block]

Sale of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually
on delivery of the goods at which time all of the following conditions are satisfied:
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the
goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the Company; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from the sale of goods is measured at the fair value of the consideration received or receivable. Amounts disclosed as revenue are
inclusive of excise duty and net of returns and allowances, trade discounts and volume rebates but does not include Value added tax (VAT) and
Central Sales tax (CST).
The Company has assumed that recovery of excise duty flows to the Company on its own account. This is for the reason that it is liability of the
manufacturer which forms part of the cost of production, irrespective of whether the goods are sold or not. Since the recovery of excise duty flows
to the Company on its own account, revenue includes excise duty.
[612400] Notes - Service concession arrangements

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of service concession arrangements [TextBlock]
Whether there are any service concession arrangments No No
247
[612000] Notes - Construction contracts

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of notes on construction contracts [TextBlock]
Whether there are any construction contracts No No
[612600] Notes - Employee benefits
Disclosure of reimbursement rights [Table] ..(1)

Defined benefit plans [Axis] Domestic defined benefit plans [Member]
Defined benefit plans categories [Axis] Gratuity
01/04/2016 01/04/2015
to to 31/03/2015
31/03/2017 31/03/2016
Disclosure of reimbursement rights [Abstract]
Disclosure of reimbursement rights [Line items]
Description of type of plan Funded Funded
Changes in reimbursement rights [Abstract]
Interest income, reimbursement rights 1,729 1,482
Gain (loss) on remeasurement, reimbursement rights
[Abstract]
Return on reimbursement rights (A) 251 238
Total gain (loss) on remeasurement, reimbursement rights 251 238
Other increase decrease in reimbursement rights (B) 8,909 2,101
Total changes in reimbursement rights, at fair value 10,889 3,821
Reimbursement rights, at fair value at end of period 33,076 22,187 18,366
(A) Return on plan assets (excluding amounts included in net interest expense)
(B) Contributions from Employer & Benefits paid
Disclosure of defined benefit plans [Table] ..(1)

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of defined benefit plans [Abstract]
Disclosure of defined benefit plans [Line items]
Surplus (deficit) in plan [Abstract]
Defined benefit obligation, at present value 46,100 32,076
Plan assets, at fair value 33,077 22,187
Net surplus (deficit) in plan -13,023 -9,889
Actuarial assumption of discount rates 7.15% 7.80%
Actuarial assumption of expected rates of salary increases 7.00% 5.60%
Mortality Rate : 100 Mortality Rate : 100
Other material actuarial assumptions % & Withdrawal % & Withdrawal Rate
Rate : 9.50% : 9.50%
248
Disclosure of net defined benefit liability (assets) [Table] ..(1)

Net defined benefit liability (assets) [Axis] Present value of defined benefit obligation [Member]
01/04/2016 01/04/2015
to to 31/03/2015
31/03/2017 31/03/2016
Disclosure of net defined benefit liability (assets) [Abstract]
Disclosure of net defined benefit liability (assets) [Line items]
Changes in net defined benefit liability (assets) [Abstract]
Current service cost, net defined benefit liability
6,719 6,426
(assets)
Interest expense (income), net defined benefit liability
2,500 2,139
(assets)
Gain (loss) on remeasurement, net defined benefit
Actuarial losses (gains) arising from changes in
financial assumptions, net defined benefit (A) -6,077 952
liability (assets)
Total loss (gain) on remeasurement, net defined
-6,077 952
benefit liability (assets)
Payments from plan, net defined benefit liability (assets) 1,272 2,045
Total increase (decrease) in net defined benefit liability
14,024 5,568
(assets)
Net defined benefit liability (assets) at end of period 46,100 32,076 26,508
(A) Actuarial gains and losses arising from changes in financial assumptions & Actuarial gains and losses arising from experience
adjustments
01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of employee benefits [TextBlock] [See below]
Disclosure of defined benefit plans [TextBlock]
Whether there are any defined benefit plans Yes Yes
Disclosure of net defined benefit liability (assets) [TextBlock]
Disclosure of reimbursement rights [TextBlock]
Disclosure of sensitivity analysis for actuarial assumptions [TextBlock] [See below]
249
Disclosure of employee benefits [Text Block]

Employee benefit plans :
Defined Contribution Plan :
In accordance with the law, all employees of the company are entitled to receive benefits under the provident fund. Under defined contribution
plan, provident fund is contributed to the Government administrated provident fund. The company has no obligation other than the contribution to
the provident fund.
Amount recognised in Statement of Profit and Loss. 24,014 25,568
Total 24,014 25,568
Defined Benefit Plans :
Gratuity :
The payment of gratuity is required by the Payment of Gratuity Act, 1972. Gratuity for employees is covered under a scheme of Life Insurance
Corporation of India (LIC) which is basically a year-on-year cash accumulation plan. As part of the scheme the interest rate is declared on yearly
basis and is guaranteed for a period of one year. The insurance company, as part of the policy rules, makes payment of all gratuity settlements
during the year subject to sufficiency of funds under the policy.
Risk exposure to defined benefit plans :
Interest Rate risk:

The plan exposes the Company to the risk of fall in interest rates. A fall in interest rates will result in an increase in the ultimate cost of providing
the above benefit and will thus result in an increase in the value of the liability (as shown in financial statements).
Liquidity Risk:
This is the risk that the Company is not able to meet the short-term gratuity payouts.This may arise due to non availabilty of enough cash/cash
equivalent to meet the liabilities or holding of illiquid assets not being sold in time.
Salary Escalation Risk:

The present value of the defined benefit plan is calculated with the assumption of salary increase rate of plan participants in future. Deviation in
the rate of increase of salary in future for plan participants from the rate of increase in salary used to determine the presentvalue of obligation will
have a bearing on the plan's liabilty.
Demographic Risk :
The Company has used certain mortality and attrition assumptions in valuation of the liability.
Regulatory Risk :
Gratuity benefit is paid in accordance with the requirements of the Payment of Gratuity Act, 1972 ( asamended from time to time). There is a risk
of change in regulations requiring higher gratuity payouts(e.g. Increase in the maximum limit on gratuity of Rs. 10,00,000).
Asset Liability Mismatching or Market Risk :

The duration of the liabilty is longer compared to duration of assets,exposing the Company to market risk for volatilities/fall in interest rate.
Investment Risk :
The probability or likelihood of occurrence of losses relative to the expected return on any particular investment.
250
Expenses recognised for defined benefit plan and movement of plan assets and liabilities
Following is the amount recognised in statement of profit and loss, other comprehensive income, movement in defined benefit liability (i.e.
gratuity) and movement in plan assets:
For the year ended March 31, For the year ended March 31,
Particulars
2017 2016
A. Components of expense recognised in the Statement of Profit and Loss
Current service cost 6,719 6,426
Past service cost and (gain)/loss from settlements - -
Net interest expenses 771 657
Total (A) 7,490 7,083
B. Components of defined benefit costs recognised in other Comprehensive

Income
Remeasurement on the net defined benefit liability:
-Return on plan assets (excluding amounts included in net interest expense) (251) (238)
-Actuarial gains and losses arising from changes in demographic assumptions - -
-Actuarial gains and losses arising from changes in financial assumptions 6,099 50
-Actuarial gains and losses arising from experience adjustments (22) (1,002)
-Adjustments for restrictions on the defined benefit asset
Total (B) 5,826 (1,190)
Category wise plan assets :
The fair value of the plan assets at the end of the reporting period for each category, are as follows:
As at
Particulars As at March 31, 2017 As at March 31, 2016
April 01, 2015
Insurer managed funds 100% 100% 100%
The above plan assets are unquoted instruments.
251
Maturity Profile of Defined Benefit Obligation
Weighted Average duration (based on discounted cash flows) 5 Years
Expected cash flows over the next (valued on undiscounted basis): Amounts
1 Year 4,528
2 to 5 Years 21,413
6 to 10 Years 20,988
More than 10 Years 41,081
252
Disclosure of sensitivity analysis for actuarial assumptions [Text Block]

Sensitivity analysis:
Significant actuarial assumptions for the determination of the defined benefit obligation are discount rate, expected salary increase and mortality.
The sensitivity analysis below have been determined based on reasonably possible changes of the assumptions occurring attend of the reporting
period, while holding all other assumptions constant. The results of sensitivity analysis is given below:
As at As at
Particulars
March 31, 2017 March 31, 2016
Defined Benefit Obligation (Base) 46,100 32,076
Particulars As at March 31, 2017 As at March 31, 2016
Decrease Increase Decrease Increase
Discount Rate (- / +1%) 49,712 42,918 34,277 30,123
(% Change compared to base due to Sensitivity) 7.80% -6.90% 6.90% -6.10%
Salary Growth Rate (- / +1%) 42,969 49,574 30,224 34,124
(% Change compared to base due to Sensitivity) -6.80% 7.50% -5.80% 6.40%
Attrition Rate (- / +50% of attrition rates) 46,398 45,737 30,750 32,628
(% Change compared to base due to Sensitivity) 0.60% -0.80% -4.10% 1.70%
Mortality Rate (- / +10% of mortality rates) 46,098 46,102 32,065 32,087
(% Change compared to base due to Sensitivity) 0% 0% 0% 0%
253
[612800] Notes - Borrowing costs

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of borrowing costs [TextBlock] [See below]
Whether any borrowing costs has been capitalised during the year No Yes
Borrowing costs [Abstract]
Borrowing costs capitalised 0 63,530
Borrowing costs recognised as expense 10,14,916 9,55,047
Total borrowing costs incurred 10,14,916 10,18,577
Interest costs [Abstract]
Interest costs capitalised 0 0
Interest expense 0 0
Total interest costs incurred 0 0
Capitalisation rate of borrowing costs eligible for capitalisation 0.00% 0.00%
Disclosure of borrowing costs [Text Block]

During the year, the company has capitalized the following expenses of revenue nature to the cost of capital work-in-progress (CWIP).
Consequently, expenses disclosed under the respective notes are net of amounts capitalized by the company.
Year ended March 31,
2017 2016
Salaries, wages and bonus - 11,539
Consumption of stores and spares - -
Power and fuel - -
Finance costs - 63,530
- 75,069
254
[700100] Notes - Key managerial personnels and directors remuneration and other information
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors [Table] ..(1)
Key managerial personnels and directors [Axis] CFO CS Director1 Director2
01/04/2016 01/04/2016 01/04/2016 01/04/2016
to to to to
31/03/2017 31/03/2017 31/03/2017 31/03/2017
Disclosure of key managerial personnels and directors and
remuneration to key managerial personnels and directors
[Abstract]
Disclosure of key managerial personnels and directors
and remuneration to key managerial personnels and
directors [LineItems]
YALAMANCHILI
(A) Satyanarayan YALAMANCHILI
Name of key managerial personnel or director SHAM KRISHNA
Mohanty JITHIN KUMAR
JANARDHANA
RAO
Director identification number of key managerial
00099750 00099891
personnel or director
Permanent account number of key managerial
AARPB5963A ATOPM7349H AAIPY5615R AAIPY5616N
Date of birth of key managerial personnel or
18/01/1970 05/06/1979 09/06/1955 09/01/1932
director
Designation of key managerial personnel or director CFO Company Secretary Director Director
Qualification of key managerial personnel or
CA Company Secretary Graduate Graduate
director
Shares held by key managerial personnel or director [shares] 0 [shares] 0 [shares] 35,200 [shares] 402
Key managerial personnel or director remuneration
[Abstract]
Gross salary to key managerial personnel or
director [Abstract]
Salary key managerial personnel or director 5,611 1,258 0 0
5,611 1,258 0 0
director
Total key managerial personnel or director
5,611 1,258 0 0
remuneration
Footnotes
(A) Mr. Satyanarayan Mohanty was appointed as a Company Secretary with effect from August 25, 2016.
255
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors [Table] ..(2)
Key managerial personnels and directors [Axis] Director3 Director4 Director5 Director6
01/04/2016 01/04/2016 01/04/2016 01/04/2016
to to to to
31/03/2017 31/03/2017 31/03/2017 31/03/2017
Disclosure of key managerial personnels and directors and
remuneration to key managerial personnels and directors
[Abstract]
Disclosure of key managerial personnels and directors
and remuneration to key managerial personnels and
directors [LineItems]
(A) JOSE
SRIDHAR JOSE FERNANDO RAMASWAMY
Name of key managerial personnel or director KRISHNAMOORTHY VEDANA VISWESWARAN
ANTONIO
JAINAGA GOMEZ
Director identification number of key managerial
06738209 07003017 07268366 07237677
Permanent account number of key managerial
BRBPK8793D AVWPV4035H AADPV3659D
Date of birth of key managerial personnel or
07/10/1961 12/11/1964 06/06/1962 06/03/1954
director
Whole Time
Designation of key managerial personnel or director Managing Director Director
Director
Director
Qualification of key managerial personnel or

B E, M E, MBA MBA BE Graduate
director
Shares held by key managerial personnel or director [shares] 5 [shares] 0 [shares] 0 [shares] 0
Key managerial personnel or director remuneration
[Abstract]
director [Abstract]
Salary key managerial personnel or director 28,083 1,010 8,155 0
28,083 1,010 8,155 0
director
Total key managerial personnel or director
28,083 1,010 8,155 0
remuneration
Footnotes
(A) Mr. Jose Antonio Jainaga Gomez (Director) resigned with effect from June 16, 2016
01/04/2016
to
31/03/2017
Disclosure of key managerial personnels and directors and remuneration Textual information (76)
to key managerial personnels and directors explanatory [TextBlock] [See below]
256
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors
explanatory [Text Block]
- The Company, during the year, has received an order to recover the excess remuneration, paid to whole time directors in response to their
request made to the Central Government through an application of waiver, aggregating to Rs. 21,611 as indicated below :
Year to which remuneration relates Amounts
2009-10 938
2010-11 9,157
2011-12 11,516
Total 21,611
The Company has initiated the recovery proceedings against all the 3 whole time directors, and as at 31 March 2017 the status is as follows -
Whole time director Amount to be be recovered as on 31 March 2017 Amount recovered as on 31 March 2017
Vilmar Rudolf Babot 938 938
Aravind Swarup Mathur 13,791 -
Renan De Castro Alves Pinto 6,882 -
Total 21,611 938
The balance to be recovered as on 31 March 2017 aggregates to Rs. 20,673('000).
- The Company was a Limited Company until Feb 10, 2016, during which an amount of Rs. 2,809('000) has been paid as remuneration to Mr.
Ramaswamy Visweswaran, the whole time director of the Company, without compliance with Schedule V to the Act as the Company did not
have Independent Directorin its Nomination and Remuneration Committee. The Company had applied for necessary approvals from Central
Government in this regard which was subsequently rejected subject to a fresh application on satisfaction of certain conditions. As the Company
does not foresee the subsistence of a fresh application in this regard, the amount of Rs. 2,809('000) has been recovered from the said Director
during the year ended 31 March 2017.
- The previous whole time Company Secretary of the Company resigned with effect from December 22, 2015. The Company appointed a
newwhole time Company Secretary as required under Section 203 read with Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 on August 25, 2016.
257
[612200] Notes - Leases
Disclosure of finance lease and operating lease by lessee [Table] ..(1)

Later than one year and not later than
Maturity [Axis] Not later than one year [Member]
five years [Member]
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Disclosure of finance lease and operating lease by
lessee [Abstract]
Disclosure of finance lease and operating lease
by lessee [Line items]
Minimum lease payments payable under
324 1,005 0 324
non-cancellable operating lease
Disclosure of finance lease and operating lease by lessee [Table] ..(2)

Maturity [Axis] Later than five years [Member]
31/03/2017 31/03/2016
Disclosure of finance lease and operating lease by lessee [Abstract]
Disclosure of finance lease and operating lease by lessee [Line items]
Minimum lease payments payable under non-cancellable operating lease 0 0

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of leases [TextBlock]
Whether company has entered into any lease agreement Yes Yes
Disclosure of recognised finance lease as assets by lessee [TextBlock]
Disclosure of finance lease and operating lease by lessee [TextBlock] [See below]
Whether any operating lease has been converted to financial lease or
No No
vice-versa
Disclosure of finance lease and operating lease by lessee [Text Block]

The company has entered into commercial leases on certain motor vehicles and items of machinery. These leases have an average life of between
three and five years with no renewal option included in the contracts. There are no restrictions placed upon the company by entering into these
leases.
[612300] Notes - Transactions involving legal form of lease

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of arrangements involving legal form of lease [TextBlock]
Whether there are any arrangements involving legal form of lease No No
258
[612900] Notes - Insurance contracts

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of insurance contracts [TextBlock]
Whether there are any insurance contracts as per Ind AS 104 No No
[613100] Notes - Effects of changes in foreign exchange rates

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of effect of changes in foreign exchange rates [TextBlock]
Whether there is any change in functional currency during the year No No
Description of presentation currency INR
[500100] Notes - Subclassification and notes on income and expenses
Miscellaneous other operating revenues [Table] ..(1)

Miscellaneous other operating revenues [Axis] Others
01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of other operating revenues [Abstract]
Other operating revenues [Abstract]
Miscellaneous other operating revenues 29,805 8,663
Miscellaneous other operating revenues [Abstract]
Miscellaneous other operating revenues [LineItems]
Other operating Other operating
Description of miscellaneous other operating revenues revenue - Coal, Slag revenue - Coal, Slag
and Scrap Sales and Scrap Sales
259

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Subclassification and notes on income and expense explanatory [TextBlock]
Disclosure of revenue from operations [Abstract]
Disclosure of revenue from operations for other than finance company
[Abstract]
Revenue from sale of products (A) 1,04,30,269
1,00,99,576
Revenue from sale of services 0 0

Other operating revenues 29,805 8,663
Other operating revenues 29,805 8,663
Total revenue from operations other than finance company 1,04,60,074 1,01,08,239
Disclosure of revenue from operations for finance company [Abstract]
Revenue from interest 0 0
Revenue from other financial services 0 0
Total revenue from operations finance company 0 0
Total revenue from operations 1,04,60,074 1,01,08,239
Disclosure of other operating revenues [Abstract]
Other operating revenues [Abstract]
Net gain/loss on foreign currency fluctuations treated as other
0 0
operating revenue
Total other operating revenues 29,805 8,663
Total other operating revenues 29,805 8,663
Miscellaneous other operating revenues [Abstract]
Disclosure of other income [Abstract]
Interest income [Abstract]
Interest income on current investments [Abstract]
Interest on fixed deposits, current investments (B) 379
346
Interest on other current investments (C) 20,095

30,468
Total interest income on current investments 20,474 30,814

Interest income on non-current investments [Abstract]
Interest on fixed deposits, non-current investments 4,036 3,799
Total interest income on non-current investments 4,036 3,799
Total interest income 24,510 34,613
Dividend income [Abstract]
Dividend income current investments [Abstract]
Dividend income current investments from others 0 0
Total dividend income current investments 0 0
Dividend income non-current investments [Abstract]
Dividend income non-current investments from others 0 0
Total dividend income non-current investments 0 0
Total dividend income 0 0
Net gain/loss on sale of investments [Abstract]
Net gain/loss on sale of non-current investments 0 0
Total net gain/loss on sale of investments 0 0
Rental income on investment property [Abstract]
Rental income on investment property, non-current 0 0
Total rental income on investment property 0 0
Other non-operating income [Abstract]
Net gain (loss) on foreign currency fluctuations treated as other
income [Abstract]
Net gain (loss) on derivatives 12,590 39,362
Other net gain (loss) on foreign currency fluctuations treated
8,377 0
as other income
Total net gain/loss on foreign currency fluctuations treated as
20,967 39,362
other income
Excess provisions bad doubtful debts advances written back 13,316 46,614
Miscellaneous other non-operating income 32,972 8,165
Total other non-operating income 67,255 94,141
Total other income 91,765 1,28,754
Disclosure of finance cost [Abstract]
260
Interest expense [Abstract]

Interest expense non-current loans [Abstract]
Interest expense non-current loans, banks 8,81,244 8,65,981
Total interest expense non-current loans 8,81,244 8,65,981
Other interest charges 0 0
Total interest expense 8,81,244 8,65,981
Other borrowing costs 1,33,672 89,066
Total finance costs 10,14,916 9,55,047
Employee benefit expense [Abstract]
Salaries and wages (D) 4,21,939
4,51,896
Managerial remuneration [Abstract]

Remuneration to directors [Abstract]
Other benefits to directors 0 0
Total remuneration to directors 0 0
Remuneration to manager [Abstract]
Other benefits to manager 0 0
Total remuneration to manager 0 0
Total managerial remuneration 0 0
Contribution to provident and other funds [Abstract]
Contribution to provident and other funds for others 24,014 25,568
Total contribution to provident and other funds 24,014 25,568
Leave encashment expenses 13,065 7,086
Gratuity 7,490 7,083
Staff welfare expense 67,051 71,102
Total employee benefit expense 5,33,559 5,62,735
Depreciation, depletion and amortisation expense [Abstract]
Depreciation expense 9,21,511 8,06,168
Amortisation expense 13,269 20,050
Depletion expense 0 0
Total depreciation, depletion and amortisation expense 9,34,780 8,26,218
Breakup of other expenses [Abstract]
Consumption of stores and spare parts 4,09,084 3,24,594
Power and fuel 4,12,344 6,01,249
Rent 26,012 29,781
Repairs to building 6,528 6,663
Repairs to machinery 4,90,076 5,38,313
Insurance 11,285 16,583
Rates and taxes excluding taxes on income [Abstract]
Excise duty (E) 11,51,989
11,66,279
Other cess taxes (F) 22,074

4,215
Cost taxes other levies by government local authorities 17,030 14,570

Total rates and taxes excluding taxes on income 11,91,093 11,85,064
Telephone postage 8,386 10,824
Information technology expenses 29,636 19,981
Travelling conveyance 21,647 41,014
Legal professional charges 52,809 36,281
Safety security expenses 10,462 15,398
Directors sitting fees 0 0
Commission paid other selling agents 1,13,058 90,338
Cost repairs maintenance other assets 2,11,032 1,54,951
Cost transportation [Abstract]
Cost freight 2,24,921 2,01,492
Cost loading and unloading 38,294 69,768
Total cost transportation 2,63,215 2,71,260
Cost lease rentals (G) 448

448
Impairment loss on financial assets [Abstract]

Impairment loss on financial assets trade receivables (H) 4,479
0
Impairment loss on financial assets loans and advances (I) 12,415

25,373
Impairment loss on financial assets investments (J) 2,27,018

0
Total impairment loss on financial assets 2,43,912 25,373
261
Impairment loss on non financial assets [Abstract]

Impairment loss on property plant and equipment (K) 18,393
0
Total impairment loss on non-financial assets 18,393 0

Loss on disposal of intangible Assets 0 0
Loss on disposal, discard, demolishment and destruction of
0 0
depreciable property plant and equipment
Contract cost [Abstract]
Hire charges assets contracts (L) 42,359
45,757
Total contract cost 42,359 45,757

Payments to auditor [Abstract]
Payment for audit services (M) 1,760
1,295
Payment for taxation matters 205 205

Payment for other services 1,793 0
Payment for reimbursement of expenses 33 47
Total payments to auditor 3,791 1,547
CSR expenditure 0 0
Miscellaneous expenses (N) 54,022

75,973
Total other expenses 36,19,592 34,91,392
Footnotes
(A) Sale of products including Excise Duty of Rs.11,51,989 year ended March 31, 2017( Including Excise duty of Rs 11,66,279 Year
ended March 31, 2016)
(B) Interest Income on Financial Assets (Security Deposits)
(C) Interest on LC Usance
(D) Salaries, wages and bonus include reversal of provision for EPF of expats of Rs 36,925('000) and provision for TDS on salaries of
expats of Rs 35,754 ('000).
(E) Excise duty on sale of goods
(F) Adjustment of excise duty on stock
(G) Amortisation of Leaseholdland
(H) Provision for doubtful debts and advances
(I) Advances Written off
(J) Provision for deposits
(K) Property, plant and equipment written off, net
(L) Plant and machinery hire charges
(M) Other certification services is classified under Legal and Professional Expenses above - Rs.1,49,000/- (PY Rs.70,000/-)
(N) Net Loss on Fair valuation of Derivatives, Interest to Suppliers registered under MSMED Act, 2006 and Miscellaneous Expenses
[613200] Notes - Cash flow statement

01/04/2016
to 31/03/2016 31/03/2015
31/03/2017
Disclosure of cash flow statement [TextBlock] [See below]
Description of accounting policy for determining components of cash and Textual information (79)
cash equivalents [TextBlock] [See below]
Cash and cash equivalents cash flow statement -31,79,254 -22,35,690 1,66,225
Bank overdrafts -32,09,149 -23,42,195
Cash and cash equivalents 29,895 1,06,505 1,66,225
262
Disclosure of cash flow statement [Text Block]

The Company has during the year started to generate positive operating cash flows and actual cash loss during the year has significantly reduced
compared to previous years. The Company post Balance Sheet date has generated positive cash flows. Accordingly, the present value of cash
flows as per the projections made by the management will be in excess of the carrying value of property, plant and equipment (Note 4) and certain
long term loans and advances (Note 10) which contribute to such cash flows (together referred to as 'underlying assets'). Hence, the management
is of the view that there is no impairment in the value of the underlying assets.
Description of accounting policy for determining components of cash and cash equivalents [Text Block]
For the purpose of presentation in the Statement of Cash Flows, cash and cash equivalents includes cash on hand, deposits held at call with
financial institutions, other short-term highly liquid investments with original maturities of three months or less that are readily convertible to
known amounts of cash and which are subject to an insignificant risk of changes in value, and bank over drafts. Bank over drafts are shown with
in borrowings in current liabilities in the Balance Sheet.
[500200] Notes - Additional information statement of profit and loss

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Additional information on profit and loss account explanatory [TextBlock] [See below]
Inventory write-down 0 0
Reversal of inventory write-down 0 0
Net write-downs (reversals of write-downs) of inventories 0 0
Net write-downs (reversals of write-downs) of property, plant and
0 0
equipment
Aggregated income tax relating to components of other
comprehensive income that will not be reclassified to 0 0
profit or loss
Total aggregated income tax relating to components of other
0 0
comprehensive income
Changes in inventories of finished goods 43,029 71,069
Changes in inventories of work-in-progress 43,957 -54,078
Changes in inventories of stock-in-trade 0 0
Changes in other inventories -4,69,036 3,87,002
Total changes in inventories of finished goods, work-in-progress and
-3,82,050 4,03,993
stock-in-trade
Domestic sale manufactured goods 1,04,30,269 1,00,99,576
Domestic sale traded goods 0 0
Total domestic turnover goods, gross 1,04,30,269 1,00,99,576
Export sale manufactured goods 0 0
Export sale traded goods 0 0
Total export turnover goods, gross 0 0
Total revenue from sale of products (A) 1,04,30,269

1,00,99,576
Domestic revenue services 0 0

Export revenue services 0 0
Total revenue from sale of services 0 0
Gross value of transaction with related parties 2,33,357 2,42,770
Bad debts of related parties 0 0
263
Footnotes
(A) Sale of products including Excise Duty of Rs.11,51,989 year ended March 31, 2017( Including Excise duty of Rs 11,66,279 Year
ended March 31, 2016)
264
Additional information on profit and loss account explanatory [Text Block]
Cost of materials consumed Year ended March 31, 2017 Year ended March 31, 2016
Raw Materials
Opening inventory 1,207,262 1,065,148
Add: Purchases (net) 5,813,070 5,079,858
Less: Inventory at the end of the year 1,533,549 1,207,262
Cost of raw materials consumed during the year 5,486,783 4,937,744
5,486,783 4,937,744
Value of imports calculated on CIF basis :
31.03.2017 31.03.2016
Raw materials 27,10,339 23,44,883
Components and spare parts 1,27,096 1,45,515
Capital goods 46,924 2,02,292
28,84,359 26,92,690
Expenditure in foreign currency (accrual basis):
31.03.2017 31.03.2016
Foreign Travel 648 1,974
Professional fees 1,040 2,343
Interest & Commission 1,25,669 2,45,481
Services received -Revamping of Machinery /Repaires and Maintenance 3,460 547
265
IT Related 13,756 9,691
Subscription , Books etc 2,646 -
Frieght 6,204 7,487
1,30,817 2,67,523
[611200] Notes - Fair value measurement
Disclosure of fair value measurement of assets [Table] ..(1)

Measurement [Axis] At fair value [Member]
Classes of assets [Axis] Other equity securities [Member] Derivatives [Member]
Levels of fair value hierarchy [Axis] Level 3 of fair value hierarchy [Member] Level 2 of fair value hierarchy [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Disclosure of fair value measurement of assets
[Abstract]
Disclosure of fair value measurement of assets
[Line items]
Assets 84,947 84,947 0 2,79,112
Derivative financial Derivative financial
assets - Gain on assets - Gain on
Nature of other assets Investments Investments
outstanding cross outstanding cross
currency swaps currency swaps
Description of valuation techniques used in
Level 3 of hierarchy Level 3 of hierarchy Level 2 of hierarchy Level 2 of hierarchy
fair value measurement, assets
Reconciliation of changes in fair value
measurement, assets [Abstract]
Assets at end of period 84,947 84,947 0 2,79,112
Description of line items in profit or loss
where gains (losses) are recognised, fair - - - -
value measurement, assets
Description of line items in other
comprehensive income where gains (losses) are - - - -
recognised, fair value measurement, assets
Derivative financial Derivative financial
assets - Gain on assets - Gain on
Nature of other assets Investments Investments
outstanding cross outstanding cross
currency swaps currency swaps
266
Disclosure of fair value measurement of liabilities [Table] ..(1)

Measurement [Axis] At fair value [Member]
Classes of liabilities [Axis] Liability1 Liability2
Levels of fair value hierarchy [Axis] Level 2 of fair value hierarchy [Member] Level 2 of fair value hierarchy [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Disclosure of fair value measurement of liabilities
[Abstract]
Disclosure of fair value measurement of
liabilities [Line items]
Derivative financial Derivative financial Derivative financial Derivative financial
liabilities - loss on liabilities - loss on liabilities - loss on liabilities - loss on
Nature of liabilities outstanding cross outstanding cross outstanding option / outstanding option /
currency swaps currency swaps Forwad contracts Forwad contracts
Liabilities 77,760 0 13,213 12,823
Description of valuation techniques used in
Level 2 of hierarchy Level 2 of hierarchy Level 2 of hierarchy Level 2 of hierarchy
fair value measurement, liabilities
Reconciliation of changes in fair value
measurement, liabilities [Abstract]
Liabilities at end of period 77,760 0 13,213 12,823
Description of line items in profit or loss
where gains (losses) are recognised, fair - - - -
value measurement, liabilities
Description of line items in other
comprehensive income where gains (losses) are
- - - -
recognised, fair value measurement,
liabilities
Derivative financial Derivative financial Derivative financial Derivative financial
liabilities - loss on liabilities - loss on liabilities - loss on liabilities - loss on
Nature of liabilities outstanding cross outstanding cross outstanding option / outstanding option /
currency swaps currency swaps Forwad contracts Forwad contracts

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of fair value measurement [TextBlock]
Disclosure of fair value measurement of assets [TextBlock]
Whether assets have been measured at fair value Yes Yes
Disclosure of fair value measurement of liabilities [TextBlock]
Whether liabilities have been measured at fair value Yes Yes
Disclosure of fair value measurement of equity [TextBlock]
Whether equity have been measured at fair value No No
Disclosure of significant unobservable inputs used in fair value
measurement of assets [TextBlock]
Disclosure of significant unobservable inputs used in fair value
measurement of liabilities [TextBlock]
[613300] Notes - Operating segments

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of entity's operating segments [TextBlock] [See below]
Disclosure of reportable segments [TextBlock]
Whether there are any reportable segments No No
Disclosure of major customers [TextBlock]
Whether there are any major customers No No
267
Disclosure of entity's operating segments [Text Block]

As the Company's business activity falls within a single primary business segment and is a single geographical segment, the disclosure
requirements of Accounting Standard (IND AS- 108) "Segment Reporting", are not applicable.
[610700] Notes - Business combinations

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of business combinations [TextBlock]
Whether there is any business combination No No
Disclosure of reconciliation of changes in goodwill [TextBlock]
Whether there is any goodwill arising out of business combination No No
Disclosure of acquired receivables [TextBlock]
Whether there are any acquired receivables from business combination No No
Disclosure of contingent liabilities in business combination [TextBlock]
Whether there are any contingent liabilities in business combination No No
[611500] Notes - Interests in other entities

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of interests in other entities [TextBlock]
Disclosure of interests in subsidiaries [TextBlock]
Disclosure of subsidiaries [TextBlock]
Whether company has subsidiary companies No No
Whether company has subsidiary companies which are yet to commence
No No
operations
Whether company has subsidiary companies liquidated or sold during
No No
year
Disclosure of interests in associates [TextBlock]
Disclosure of associates [TextBlock]
Whether company has invested in associates No No
Whether company has associates which are yet to commence operations No No
Whether company has associates liquidated or sold during year No No
Disclosure of interests in joint arrangements [TextBlock]
Disclosure of joint ventures [TextBlock]
Whether company has invested in joint ventures No No
Whether company has joint ventures which are yet to commence
No No
operations
Whether company has joint ventures liquidated or sold during year No No
Disclosure of interests in unconsolidated structured entities [TextBlock]
Disclosure of unconsolidated structured entities [TextBlock]
Whether there are unconsolidated structured entities No No
Disclosure of investment entities [TextBlock]
Disclosure of information about unconsolidated subsidiaries [TextBlock]
Whether there are unconsolidated subsidiaries No No
Disclosure of information about unconsolidated structured entities
controlled by investment entity [TextBlock]
Whether there are unconsolidated structured entities controlled by
No No
investment entity
268
[610800] Notes - Related party
Disclosure of transactions between related parties [Table] ..(1)

Entities with joint control or significant influence
Categories of related parties [Axis] Parent [Member]
over entity [Member]
Related party [Axis] Related1 Related11
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
Gerdau Holdings Gerdau Holdings
OPTREX FINEXIM PVT OPTREX FINEXIM PVT
Name of related party Europa SA Y CIA Europa SA Y CIA
LTD LTD
S.R.C S.R.C
SPAIN SPAIN INDIA INDIA
related party
CIN of related party U67120TG1995PTC062568 U67120TG1995PTC062568
Description of nature of transactions with
As per below As per below As per below As per below
related party
Enterprises which are Enterprises which are
owned, or have significant owned, or have significant
Description of nature of related party
Holding company Holding company influence of or are partners influence of or are partners
relationship with Key management with Key management
personnel and their relatives personnel and their relatives
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

Entities with joint control or significant Key management personnel of entity or
Categories of related parties [Axis]
influence over entity [Member] parent [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Y Jithin Kumar Y Jithin Kumar S r i d h a r Sridhar
Name of related party (HUF) (HUF) Krishnamoorthy Krishnamoorthy
INDIA INDIA INDIA INDIA
related party
Permanent account number of related party AAIPY5615R AAIPY5615R BRBPK8793D BRBPK8793D
related party
Enterprises which
Enterprises which are
are owned, or have
owned, or have
significant influence
significant influence
Description of nature of related party of or are partners Key Management Key Management
of or are partners with
relationship with Key Personnel Personnel
Key management
management
personnel and their
personnel and their
relatives
relatives
Related party transactions [Abstract]
Other related party transactions expense (A) 9,240 13,200 (B) 28,083 27,255
Other related party transactions
1,80,000 1,80,000
contribution made
transaction
269
Footnotes
(A) Reimbursement of Hyderabad office expenses Note: During the year, the company has made payment of Rs 9,240 ( During FY
2015-16 of Rs 13,200) to Yalamanchali Jithin Kumar, Non-executive director of the company against bills/ statements of expenses
furnished by the said non -executive director.
(B) Remuneration

Categories of related parties [Axis] Key management personnel of entity or parent [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Jose Fernando Ramaswamy Ramaswamy
Name of related party Vedana
Jose Fernando Vedana
Visweswaran Visweswaran
related party
Permanent account number of related party AVWPV4035H AVWPV4035H AADPV3659D AADPV3659D
related party
Description of nature of related party Key Management Key Management Key Management Key Management
relationship Personnel Personnel Personnel Personnel
Other related party transactions expense (A) 1,010 8,301 (B) 8,155 4,511
transaction
Footnotes
(A) Remuneration
(B) Remuneration

01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Gustavo Werneck Gustavo Werneck Da
Name of related party Da Cunha Cunha
Sham Krishna Sham Krishna

SPAIN SPAIN INDIA INDIA
related party
Permanent account number of related party AARPB5963A AARPB5963A
related party
Other related party transactions expense (A) 0 2,406 (B) 5,611 4,833
transaction
Footnotes
(A) Remuneration
(B) Remuneration
270

01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Satyanarayan Satyanarayan
Name of related party Mohanty Mohanty
Satish Kumar S S Satish Kumar S S

related party
Permanent account number of related party ATOPM7349H ATOPM7349H AOPPS7774A AOPPS7774A
related party
Other related party transactions expense (A) 1,258 0 (B) 0 2,264
transaction
Footnotes
(A) Remuneration
(B) Remuneration

Categories of related parties [Axis] Other related parties [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
[Abstract]
Name of related party Y Uma rani Y Uma rani Y Susheela Kumari Y Susheela Kumari
related party
Permanent account number of related party AANPY9751B AANPY9751B AAMPY0827D AAMPY0827D
related party
Relatives of Key Relatives of Key Relatives of Key Relatives of Key
Description of nature of related party
management management management management
relationship personnel personnel personnel personnel
transaction
271

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of related party [TextBlock]
Gerdau Holdings Europa
Name of parent entity SA Y CIA S.R.C
Whether there are any related party transactions during year Yes Yes
Note: The remuneration
to the key managerial
personnel does not
include the provisions
Disclosure of transactions between related parties [TextBlock] made for gratuity and
leave benefits, as they
are determined on an
actuarial basis for the
company as a whole.
Whether entity applies exemption in Ind AS 24.25 No No
Whether company is subsidiary company Yes Yes
Section under which company is subsidiary Section 2(87)(ii) Section 2(87)(ii)
[611700] Notes - Other provisions, contingent liabilities and contingent assets
Disclosure of contingent liabilities [Table] ..(1)

Contingent liability on disputed sales tax
Classes of contingent liabilities [Axis] Other contingent liabilities [Member]
[Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Disclosure of contingent liabilities [Abstract]
Disclosure of contingent liabilities [Line items]
Description of nature of obligation, contingent
Total Total Sales tax matters Sales tax matters
liabilities
Estimated financial effect of contingent
2,62,563 3,28,524 1,53,444 2,52,937
liabilities

Contingent liability on disputed income Contingent liability on disputed excise
Classes of contingent liabilities [Axis]
tax [Member] demands [Member]
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Excise Demands -
Description of nature of obligation, contingent Excise Demands -
Income-tax demand Income-tax demand matters under
liabilities matters under dispute
dispute
Estimated financial effect of contingent
1,680 1,680 62,741 29,209
liabilities

Other contingent liabilities, others
Classes of contingent liabilities [Axis]
[Member]
01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Claims against the Claims against the
company not company not
Description of nature of obligation, contingent liabilities acknowledged as acknowledged as
debts debts
Estimated financial effect of contingent liabilities 44,698 44,698
272

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of other provisions, contingent liabilities and contingent assets
[TextBlock]
Disclosure of contingent liabilities [TextBlock] [See below]
Whether there are any contingent liabilities Yes Yes
Claims against the Claims against the
Description of other contingent liabilities others company not acknowledged company not acknowledged
as debts as debts
Disclosure of contingent liabilities [Text Block]

Contingent liabilities :
As the liabilities are contingent in nature, the possibility of penalty and interest on such liabilities cannot be quantified and hence not included
above. In the absence of the details in respect of certain litigations relating to direct and indirect taxes and claims filed against the company as
detailed below aggregating to Rs. 49,925 management is not in a position to assess whether there is a present obligation and the likelihood of an
outflow of resources embodying economic benefits to settle such obligation. These have been included in contingent liabilities.
Particulars Amount
a) Other claims against the Company not acknowledged as debts 22,360
b) Excise Demands - matters under dispute 12,000
c) Income Tax Demands - matters under dispute 1,610
d) Sales Tax Matters 13,955
49,925
[700200] Notes - Corporate social responsibility
Disclosure of net profits for last three financial years [Table] ..(1)
Financial year 1 Financial year 2 Financial year 3
Net profits for last three financial years [Axis]
[Member] [Member] [Member]
01/04/2016 01/04/2016 01/04/2016
to to to
31/03/2017 31/03/2017 31/03/2017
Disclosure of net profits for last three financial years [Abstract]
Disclosure of net profits for last three financial years [LineItems]
Description of financial year 2015-16 2014-15 2013-14
Profit before tax of financial year -9,40,136 -22,33,276 -36,36,837
Net profit computed u/s 198 and adjusted as per rule 2(1)(f)
-9,38,736 -22,33,276 -36,36,837
of Companies (CSR Policy) Rules, 2014
273
Classification of CSR spending [Table] ..(1)

Classification of CSR spending [Axis] CSR
01/04/2016
to
31/03/2017
Disclosure of CSR spending [Abstract]
Details of CSR spent during financial year [Abstract]
Manner in which amount CSR spent during financial year [Abstract]
Manner in which amount CSR spent during financial year [Line items]
CSR project or activity identified CSR
Sector in which project is covered Education
Name of state or union territory where projects or programs was undertaken All India
Budget amount outlay project or program wise 0
Amount spent on projects or programs [Abstract]
Direct expenditure on projects or programs 0
Overheads on projects or programs 0
Total amount spent on projects or programs 0
Cumulative expenditure upto reporting period 0
Expenditure on administrative overheads 0
Mode of amount spent Directly by company

01/04/2016
to
31/03/2017
Disclosure of corporate social responsibility explanatory [TextBlock] [See below]
Whether provisions of corporate social responsibility are applicable on
Yes
company
Whether company has written CSR policy Yes
Details CSR policy [TextBlock] [See below]
Average net profit for last three financial years -22,69,616.33
Prescribed CSR expenditure 0
Amount CSR to be spent for financial year 0
Amount CSR spent for financial year 0
Amount spent in local area 0
Amount spent on construction/acquisition of any asset in cash 0
Amount spent on construction/acquisition of any asset yet to
0
be paid in cash
Total amount spent on construction/acquisition of any asset 0
Amount spent on purposes other than construction/acquisition
0
of any asset in cash
Amount spent on purposes other than
0
construction/acquisition of any asset yet to be paid in cash
Total amount spent on purposes other than
0
construction/acquisition of any asset
Amount unspent CSR 0
Disclosure of corporate social responsibility explanatory [Text Block]

As per the provisions of section 135 of the Act and Companies (CSR Policy) Rules, 2014, the Company has constituted the Corporate Social
Responsibility (CSR) Committee. In pursuance of the Act, the Company is required to spend at least 2% of the average net profits made during
the three immediately preceding financial years on CSR. Since the Company has not made any profits during the years 2013-14, 2014-15 and
2015-16 the Company is not required to incur any expenditure under Section 135 during the current financial year.
274
Details CSR policy [Text Block]

Objectives of CSR Policy:
The objective of CSR policy is to lay down the guidelines for proper functioning of CSR activities to attain sustainable development of the nearby
societies / Communities. Our CSR policy is broadly framed keeping in view the following considerations:
- To help enrich the quality of life of the community of the nearby areas of our GSI Plant. To create a positive impact by making sustainable
developments in the society and promote good environmental practices.
- To be responsible and responsive corporate citizen through endeavors to create a safe, harmonious and ecologically balanced environment for its
members and the community at large and also to maintain commitment to quality, health and safety in every aspect of the business and people.
Scope:
This policy is extended to the nearby villages/ Communities of our operation & administrative offices per locations.
Areas of our Operation:
The manufacturing unit and operations of Gerdau Steel India Limited is functioned at Jambulapadu Village, Tadipatri Mandal/Town, Ananlapur
District, Andhra Pradesh and our administrative office based at World Trade Centre, Malleshwaram, Bangalore, Karnataka. All our CSR activities
shall be extended nearby communities/societies.
However, in case of natural calamities, the area of CSR activities shall be extended to such areas as approved by GSI Management that shall be
based on the requirements & severity. GSI may also contribute to "Prime Minister Relief Fund" in case of any natural calamities.
Area of CSR Activities:
The Company shall undertake some of the CSR activities planned are as under these areas:
A. Education
B. Economic Growth / Development
C. Health care and Family Welfare
A. Education:
Promoting & encouraging education among the communities which is an important of community development. Supporting the educational
institutions/schools & an approach toward meritocracy to build the societies / communities educationally advance.
The main areas for activities under Education arc as follows;
a. Constructing and renovating schools building or improving infrastructure.

b. Supporting or providing furniture, lab equipments, computers, stationary items, books, ceiling fans etc.
c. Conducting & providing the vocational training programmes
d. Presenting awards and scholarship to meritorious students to encourage further the education.
B. Economic Growth / Development
275
- Conducting entrepreneurship training/vocational programmes for the local youth by them for entrepreneurship development training and
encouraging them to start their own independent sources of income/finance.
- Such other empowerment programmes that will play a greater role in the development of the communities, enhance creativity, help in skill
acquisition and provide income generating avenue within the operating area in community for self employment Organizing Handicraft Centre /
training programmes Tor men, women & youth largely will cover the following areas;
a. Tailoring/stitching
b. Making of Paper Cups/Plats
c. Phenyl & Candle Making
d. Embroidery Skill
e. Making of Incense sticks
f. Making of Jute Bag
g. Technical training programmes on cell/mobile Phone repairing h. h. Beautician Courses for women only
i. Basic Computer Training Programmes
- Solar lighting system/non-conventional energy sources wherever it is required.
Infrastructure development (such as link roads, culverts etc.) in villages/rural areas/slum areas. Also maintenance works wherever it is required.
- Educating communities / assisting villagers on rain water harvesting system providing tube well / Bore well in around the villages of the
company
C. Health Core and Family Welfare -
To carry out various health care programmes periodically in the nearby villages/Communities by:
a. Providing safe drinking water / RO water system & educating people regarding proper use of drinking water.
b. Organizing medical camps, general health check up through mobile dispensaries or coordination with external agencies for other services.
c. "Eye Check Up Champ" Eye check-up & blood donation camps with the help of external agencies.
d. "Mobile Medical Vans" - provide awareness on social evils like drinking alcohol, 137 Gerdau Holdings Europa S.A. Y CIA, S.R.C Standalone
Financial Statements for period 01/04/2016 to 31/03/2017 smoking, drug abuse, AIDS etc.
e. Providing maternity & child care training
f. Sanitation and public health/ public toilets (male & female)
g. Providing drainage & sewage system in nearby villages
Activities prohibited under CSR activities:
The following activities shall not be undertaken under the CSR activities:
a. Activities favoring any religion.

b. Activities disturbing social harmony.
Constituting CSR Committee:
The CSR activities will be carried out by the Company's Board through the nominated employees under guidance of the Company's Board.
The activities / functions / programme and the progress will be co-ordinated and monitored by a CSR Committee.
The structure of the CSR Committee & (heir Board shall be as follows):
Serial No. Committee Member
276
1. Managing Director (Chairman)
2. Whole lime Director
3. Whole lime Director
4. CSR Coordinator
Budget for CSR Activities:
Every year, the budget for the CSR activities shall be as decided by the Board i.e. minimum 2% of net profit of the Company and surplus arising
out of CSR activities.
- The CSR programmes will be planned according to the budget allocation. In exceptional circumstances percentage of budget allocation may be
varied with the approval of the Board.
- If there is any loss during any financial year, it is not mandatory to spend any amount on CSR activities next year. The CSR Budget should be
fixed for each financial year.
The expenditure modality will be as follows:
a. For each project there shall be a Purchases Request (PR) raised and based on the Purchases Order advance payment shall be made to implement
or organize.
b. Subsequent installments will be released against the service entry based up on the project progress approval is required to get next release.
Project Selection & Implementation Mechanism:
A mechanism for identifying any project / work under CSR scope shall be administrated by the Project Allocation Methodology and the process
needs to be followed
1. All the activities related to CSR shall be dealt by the coordinators of the CSR Committee along with plant head of the Company.
Consultants with required competency and experience shall also be hired from time to time for identified projects undertaken by the Company and
to be in - charge of implementation of such projects.
a. Thrust of the schemes / projects should be in the identified priority basis.
b. The main focus of undertaking the activities is mainly to create a sustainable development and improvement
c. While implementing the identified projects, time frames and milestones will be predefined.
d. Specific projects will be identified based on evidences needs and the various assessments
e. Cost benefits and justification includes the amount of financial involvement, detailed project report for which the project appraisal has to be
carried out by the CSR Committee.
The CSR Board committee member shall be periodically or on a quarterly basis monitoring the progress on CSR projects and finalize the same
from time to time-Assessment / audit process:
All CSR activities and expenses made thereon will be subjected to audit by the Company's Auditors or CSR Committee members. The CSR
activities will be reflected in annual report under different project cost centre.
277
General guiding process:
- All administrative expenses including expenditure on tours and travels, training etc would be borne from CSR funds.
- The competent authority shall take decision on sanctioning works / allocation of funds for CSR and appointing external authorized vendor for
implementing Projects/Activities.
- If it is observed that any CSR activity taken up for implementation is found not properly implemented, the CSR Committee at its discretion may
discontinue funding the project at any time during the course of implementation or replace the Project Coordinator for the further implementation
of the project.
- Each Project Coordinator shall need to submit the progress status report before CSR Committee members as per Annexure I. The
recommendations & feedback needs to be taken in project / work if it is approved.
GSI CSR Chairmen / Managing Director shall be empowered to amend or modify this policy and such changes shall be placed before the Board
for Approval.
- The Company reserves the right to modify, cancel, add, or amend any of the above rules/guidelines. Any or all provisions of the CSR policy
shall be subject to revision/amendment in accordance with the guidelines on the subject as may be issued from Government of India, from 138
Gerdau Holdings Europa S.A. Y CIA, S.R.C Standalone Financial Statements for period 01/04/2016 to 31/03/2017 time to time.
- In case of doubt with regard to any of the provision of the policy and also in respect of matters not covered herein, the interpretation & decision
of the CSR Chairman / Managing Director shall be final.
Management's Rights:
- The Company, in its sole discretion, reserves the exclusive right to interpret, administer and apply this Policy, to make any exceptions to it, and
to change this Policy at any time and for any reason.
- This Policy is not intended to create contractual obligations. Employment with the Company is at will, which means that either the Company or
the employee may terminate the employment relationship with notice period mentioned in the terms of appointment. The Company reserves the
right to modify, amend, or rescind this Policy at any lime. This Policy supersedes any prior policies of Gerdau or its predecessors, subsidiaries,
and affiliates, whether written or oral, on the topics covered herein.
- Violations of these Guidelines are subject to disciplinary sanctions, according to the nature and severity of the infraction. By identifying or
suspecting of any possible violation, the Employee should seek orientation to the following instances;
- CSR Coordinator
- HR Head
- Industrial Director
- CSR Chairman / Managing Director
Date of effectiveness:
This policy comes in lo force from the date of signature.
Location:
All location : GSIL operations Includes of Plant, Administrative offices, other zonal offices & any other offices in India.
Sridhar Krishnamoorthy Managing Director

Edwin Francis Vice President - HR
Prepared By
Rajesh Ranjan Thakur
Assistant General Manager - HR
278
[610500] Notes - Events after reporting period

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of events after reporting period [TextBlock]
Disclosure of non-adjusting events after reporting period [TextBlock]
Whether there are non adjusting events after reporting period No No
[612500] Notes - Share-based payment arrangements

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of share-based payment arrangements [TextBlock]
Whether there are any share based payment arrangement No No
279
[613000] Notes - Earnings per share

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Share warrants as
referred to in Note 13 have
not been considered in
Disclosure of earnings per share [TextBlock] computing diluted EPS as
such inclusion will be
anti-dilutive.

Basic earnings (loss) per share from continuing operations [INR/shares] -0.28 [INR/shares] -0.4
Basic earnings (loss) per share from discontinued operations [INR/shares] 0 [INR/shares] 0
Total basic earnings (loss) per share [INR/shares] -0.28 [INR/shares] -0.4
Diluted earnings (loss) per share from continuing operations [INR/shares] -0.28 [INR/shares] -0.4
Diluted earnings (loss) per share from discontinued operations [INR/shares] 0 [INR/shares] 0
Total diluted earnings (loss) per share [INR/shares] -0.28 [INR/shares] -0.4
Profit (loss), attributable to ordinary equity holders of parent entity
[Abstract]
Profit (loss) from continuing operations attributable to ordinary
-6,55,741 -9,40,136
equity holders of parent entity
Profit (loss) from discontinued operations attributable to ordinary
0 0
equity holders of parent entity
Profit (loss), attributable to ordinary equity holders of parent entity -6,55,741 -9,40,136
Profit (loss) from continuing operations attributable to
ordinary equity holders of parent entity including dilutive -6,55,741 -9,40,136
effects
Profit (loss) from discontinued operations attributable to
ordinary equity holders of parent entity including dilutive 0 0
effects
Profit (loss), attributable to ordinary equity holders of parent
-6,55,741 -9,40,136
entity including dilutive effects
Weighted average shares and adjusted weighted average shares [Abstract]
Weighted average number of ordinary shares outstanding [shares] 237,40,89,150 [shares] 237,40,89,150
Adjusted weighted average shares [shares] 237,40,89,150 [shares] 237,40,89,150
Increase (decrease) in number of ordinary shares issued [shares] 0 [shares] 0
Dilutive effect of convertible instruments on number of ordinary shares [shares] 0 [shares] 0
Dilutive effect of share options on number of ordinary shares [shares] 0 [shares] 0
280
[610900] Notes - First time adoption
Disclosure of comprehensive income Ind AS adjustment [Table] ..(1)

Ind AS adjustment for comprehensive income [Axis] Adjustment1 Adjustment2
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Interest income on Interest income on Rentals component Rentals component on
Description of Ind AS adjustment Security deposits Security deposits on Security deposits Security deposits
Ind AS Adjustment for comprehensive income 0 36,492 0 -1,668
Disclosure of comprehensive income Ind AS adjustment
[Abstract]
Disclosure of comprehensive income Ind AS
adjustment [Line items]
281

01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Provision for
Provision for expected
expected credit Changes in property, Changes in property,
Description of Ind AS adjustment losses on trade
credit losses on trade
plant and equipment plant and equipment
receivables
receivables
Provision for
receivables
receivables
Provision for
receivables
receivables
Ind AS Adjustment for comprehensive income 0 -722 0 -13,711
[Abstract]
Provision for
receivables
receivables
Provision for
receivables
receivables
Provision for
receivables
receivables
Provision for
receivables
receivables
Provision for
receivables
receivables
Provision for
receivables
receivables
282

01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Changes in other Changes in other
Prior period Prior period expenses
current assets current assets
expenses reclassified reclassified -
Description of Ind AS adjustment - Amortisation of Amortisation of
including prepaid including prepaid
expenses and lease expenses and lease
Intangible Assets Intangible Assets
prepayments prepayments
Ind AS Adjustment for comprehensive income 0 -1,346 0 -7,051
[Abstract]
283

01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Amortisation of Amortisation of
Description of Ind AS adjustment Borrowings Borrowings
Borrowings in Borrowings in Current
Current Maturities Maturities
Ind AS Adjustment for comprehensive income 0 -2,80,560 0 4,358
[Abstract]
284

Ind AS adjustment for comprehensive income [Axis] Adjustment9
01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Fair valuation of Fair valuation of
Description of Ind AS adjustment Derivative Derivative
instruments instruments
Ind AS Adjustment for comprehensive income 0 2,64,000
Disclosure of comprehensive income Ind AS adjustment [Abstract]
Disclosure of comprehensive income Ind AS adjustment [Line items]
285
Disclosure of equity Ind AS adjustment [Table] ..(1)

Ind AS adjustment for equity [Axis] Adjustment1 Adjustment2
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Ind AS Adjustment for equity 0 1,102 0 -8,051
Disclosure of equity Ind AS adjustment [Abstract]
Disclosure of equity Ind AS adjustment [Line items]
Changes in Other Changes in Other Changes in Other
Changes in Other
Non-Current Assets Non-Current Assets Financial Assets
Financial Assets
Description of Ind AS adjustment including prepaid including prepaid i n c l u d i n g
including amortisation
expenses and lease expenses and lease amortisation of
of security deposits
prepayments prepayments security deposits
Changes in Other
Financial Assets
Changes in Other
Financial Assets
Changes in Other
Financial Assets
Changes in Other
Financial Assets
Changes in Other
Financial Assets
Changes in Other
Financial Assets
Changes in Other
Financial Assets
Changes in Other
Financial Assets
286

01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Ind AS Adjustment for equity 0 -2,310 0 -13,711
Changes in Trade
Changes in Trade
Receivables Changes in property, Changes in property,
Receivables including
Description of Ind AS adjustment including provision
provision for expected
plant and equipment plant and equipment -
for expected credit - Lease Land Lease Land
credit losses
losses
Changes in Trade
Changes in Trade
credit losses
losses
Changes in Trade
Changes in Trade
credit losses
losses
Changes in Trade
Changes in Trade
credit losses
losses
Changes in Trade
Changes in Trade
credit losses
losses
Changes in Trade
Changes in Trade
credit losses
losses
Changes in Trade
Changes in Trade
credit losses
losses
Changes in Trade
Changes in Trade
credit losses
losses
Changes in Trade
Changes in Trade
credit losses
losses
287

01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
288

01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Ind AS Adjustment for equity 0 6,369 0 4,358
289

Ind AS adjustment for equity [Axis] Adjustment9
01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Ind AS Adjustment for equity 0 1,69,228
290
Disclosure of profit (loss) for the period Ind AS adjustment [Table] ..(1)
Ind AS adjustment for profit (loss) for the period [Axis] Adjustment1 Adjustment2
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Adjustments for
Adjustments for Adjustments for Other Adjustments for Other
Description of Ind AS adjustment Other income income
Other gains/ (losses)
gains/ (losses) - net
- net
Adjustments for
- net
Adjustments for
- net
Adjustments for
- net
Adjustments for
- net
Adjustments for
- net
Ind AS Adjustment for profit (loss) for the period 0 54,058 0 -15,072
Ind AS Adjustment for profit (loss) for the period 0 54,058 0 -15,072
Disclosure of profit (loss) for the period Ind AS
adjustment [Abstract]
Disclosure of profit (loss) for the period Ind
AS adjustment [Line items]
Adjustments for
- net
Adjustments for
- net
Adjustments for
- net
Ind AS Adjustment for profit (loss) for the
0 54,058 0 -15,072
period
0 54,058 0 -15,072
period
291
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Adjustments for Adjustments for
Description of Ind AS adjustment Employee benefits Employee benefits
Finance costs Finance costs
expense expense
expense expense
expense expense
expense expense
expense expense
expense expense
Ind AS Adjustment for profit (loss) for the period 0 -1,190 0 -24,651
Ind AS Adjustment for profit (loss) for the period 0 -1,190 0 -24,651
expense expense
expense expense
expense expense
0 -1,190 0 -24,651
period
0 -1,190 0 -24,651
period
292
01/04/2016 01/04/2015 01/04/2016 01/04/2015
to to to to
31/03/2017 31/03/2016 31/03/2017 31/03/2016
Adjustments for
Adjustments for
Depreciation and Adjustments for Adjustments for Other
Description of Ind AS adjustment amortization
Depreciation and
Other expenses expenses
amortization expense
expense
Adjustments for
Adjustments for
Depreciation and
expense
Adjustments for
Adjustments for
Depreciation and
expense
Adjustments for
Adjustments for
Depreciation and
expense
Adjustments for
Adjustments for
Depreciation and
expense
Adjustments for
Adjustments for
Depreciation and
expense
Ind AS Adjustment for profit (loss) for the period 0 -898 0 -13,648
Ind AS Adjustment for profit (loss) for the period 0 -898 0 -13,648
Adjustments for
Adjustments for
Depreciation and
expense
Adjustments for
Adjustments for
Depreciation and
expense
Adjustments for
Adjustments for
Depreciation and
expense
0 -898 0 -13,648
period
0 -898 0 -13,648
period
293
Ind AS adjustment for profit (loss) for the period [Axis] Adjustment7
01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Adjustments for
Adjustments for Other
Other
Description of Ind AS adjustment comprehensive
comprehensive
income
income
Adjustments for
Other
comprehensive
income
income
Adjustments for
Other
comprehensive
income
income
Adjustments for
Other
comprehensive
income
income
Adjustments for
Other
comprehensive
income
income
Adjustments for
Other
comprehensive
income
income
Ind AS Adjustment for profit (loss) for the period 0 1,190
Disclosure of profit (loss) for the period Ind AS adjustment [Abstract]
Disclosure of profit (loss) for the period Ind AS adjustment [Line items]
Adjustments for
Other
comprehensive
income
income
Adjustments for
Other
comprehensive
income
income
Adjustments for
Other
comprehensive
income
income

01/04/2016 01/04/2015
to to
31/03/2017 31/03/2016
Disclosure of first-time adoption [TextBlock] [See below]
Whether company has adopted Ind AS first time Yes Yes
Disclosure of reconciliation of equity from previous GAAP to Ind AS Textual information (86)
Equity as per Indian GAAP -1,52,91,448 -1,47,82,216
Equity as per Ind AS -1,52,91,448 -1,46,29,880
Disclosure of reconciliation of comprehensive income from previous GAAP Textual information (87)
to Ind AS [TextBlock] [See below]
Comprehensive income as per Indian GAAP -6,61,567 -9,38,735
Comprehensive income as per Ind AS -6,61,567 -9,38,943
Disclosure of reconciliation of profit (loss) for the period from Textual information (88)
previous GAAP to Ind AS [TextBlock] [See below]
Profit (loss) for the period as per Indian GAAP -6,61,567 -9,38,735
Profit (loss) for the period as per Ind AS -6,61,567 -9,38,946
Disclosure of redesignated financial assets and liabilities [TextBlock] [See below]
294
Disclosure of first-time adoption [Text Block]
Impact of Ind AS adoption on the statements of cash flows for the year ended March 31, Previous GAAP
Notes Adjustments Ind AS
2016 *
Net cash flow from operating activities 1,642,746 (318,614) 1,324,132
Net cash flow from investing activities (1,548,749) 27,701

(1,521,048)
Net cash flows from financing activities (153,717) (458,986) (612,703)
Net increase/(decrease) in cash and cash equivalents (59,720) (749,899) (809,619)
Cash and cash equivalents as at April 1, 2015 166,225 (1,592,293)

(1,426,068)
Effect of exchange rate changes on cash & cash equivalents
Cash and cash equivalents as at March 31, 2016 106,505 (2,342,192)

(2,235,687)
* The previous GAAP figures have been reclassified to confirm to Ind AS presentation requirements for the purposes of this note.
Analysis of changes in cash and cash equivalents for the purposes of statement of cash flows Previous
Notes Adjustments Ind AS
under Ind AS for the year ended March 31, 2016: GAAP
Cash and cash equivalents as per previous GAAP 106,505 - 106,505
Bank Overdrafts - (2,342,195)

(2,342,195)
Cash and cash equivalents for the purpose of statement of cash flows 106,505 (2,342,195)
(2,235,690)
295
Disclosure of reconciliation of equity from previous GAAP to Ind AS [Text Block]
March 31, April 1,

Reconciliation of total equity as at March 31, 2016 and April 1, 2015
2016 2015
Total equity (shareholder's funds) as per previous GAAP -14,782,216 -13,843,478
Adjustments and Reclassifications:
Changes in Other Non-Current Assets including prepaid expenses and lease prepayments 1,102 -35,390
Changes in Other Financial Assets including amortisation of security deposits -8,051 -6,384
Changes in Trade Receivables including provision for expected credit losses -2,310 -1,589
Changes in property, plant and equipment - Lease Land -13,711 -
Prior period expenses reclassified - Amortisation of Intangible Assets -1,346 -
Changes in other current assets including prepaid expenses and lease prepayments -3,303 3,748
Amortisation of Borrowings 6,369 286,930
Amortisation of Borrowings in Current Maturities 4,358 -
Fair valuation of Derivative instruments 169,228 -94,772
Total adjustments 152,335.89 152,543.94
Total equity as per Ind AS (14,629,880) (13,690,935)
Also refer Note 3.18 on principal adjustments made to Previous GAAP financial statements as required under Ind AS.
296
Disclosure of reconciliation of comprehensive income from previous GAAP to Ind AS [Text Block]
March 31,
Reconciliation of total comprehensive income for the year ended March 31, 2016
2016
Profit after tax as per previous GAAP (938,735)
Adjustments :
Interest income on Security deposits 36,492
Rentals component on Security deposits (1,668)
Provision for expected credit losses on trade receivables (722)
Changes in property, plant and equipment (13,711)
Prior period expenses reclassified - Amortisation of Intangible Assets (1,346)
Changes in other current assets including prepaid expenses and lease prepayments (7,051)
Amortisation of Borrowings (280,560)
Amortisation of Borrowings in Current Maturities 4,358
Fair valuation of Derivative instruments 264,000
Total adjustments (208.05)
Profit after tax as per Ind AS (940,136)
Other comprehensive income 1,190
Total comprehensive income as per Ind AS (938,946)
Note: Total comprehensive income was not reported under previous GAAP. Therefore the reconciliation starts with profit under previous GAAP.
297
Disclosure of reconciliation of profit (loss) for the period from previous GAAP to Ind AS [Text Block]
Reconciliation of total comprehensive income for the year ended March 31, 2016 Notes Previous GAAP * Adjustments Ind AS
Continuing operations
Revenue from operations 20 10,108,239 - 10,108,239
Other income 21 74,696 54,058 128,754
Other gains/ (losses) - net 15,072 -15,072 -
Total Income 10,198,007 38,986 10,236,993
Expenses
Cost of materials consumed 22 4,937,744 - 4,937,744
Changes in inventories of finished goods, work-in-progress and stock-in-trade 23 403,993 - 403,993
Excise duty on sale of goods 1,166,279 - 1,166,279
Employee benefits expense 24 561,545 1,190 562,735
Finance costs 25 930,396 24,651 955,047
Depreciation and amortization expense 26 825,320 898 826,218
Other expenses 27 2,311,465 13,648 2,325,113
Total Expenses 11,136,742 40,387 11,177,129
Profit / (loss) before exceptional items and tax -938,735 -1,401 -940,136
Exceptional items - - -
Profit / (loss) before tax -938,735 -1,401 -940,136
Tax expenses
298
Current tax
Deferred tax
Total tax expense - - -
Profit / (loss) for the period from continuing operations -938,735 -1,401 -940,136
Profit/ (loss) for the period -938,735 -1,401 -940,136
Other comprehensive income - 1,190 1,190
Total comprehensive income -938,735 -211 -938,946
299
Disclosure of redesignated financial assets and liabilities [Text Block]
Reconciliation between previous GAAP and Ind AS as at March 31, 2015 Notes Previous GAAP * Adjustments Ind AS
ASSETS
Non-current assets
Property, plant and equipment 4 11,195,241 - 11,195,241
Capital work-in-progress 4,181,942 - 4,181,942
Other Intangible assets 5 28,100 - 28,100
Financial assets
(i) Investments 6 84,947 - 84,947
(iv) Other financial assets 8 43,306 -2,636 40,670
Deferred tax assets (Net) 9 - -
Other non-current assets 10 1,340,455 -35,390 1,305,065
Total non-current assets 16,873,991 -38,025 16,835,965
Current Assets
Inventories 11 2,907,218 - 2,907,218
Financial Assets - -
Investments - -
Trade Receivables 7 1,096,160 -1,589 1,094,571
Cash and cash equivalents 12 166,225 - 166,225
Other financial assets 8 30,790 -3,748 27,042
300
Other current assets 10 1,025,179 3,748 1,028,927
Total current assets 5,225,572 -1,588 5,223,983
Total assets 22,099,563 -39,614 22,059,948
EQUITY AND LIABILITIES
Equity
Equity Share capital 13 23,740,892 - 23,740,892
Other Equity 14 (13,843,478) 152,543 -13,690,935
Total equity 9,897,414 152,543 10,049,957
Liabilities
Non-current liabilities
Financial Liabilities -
Borrowings 15 7,767,434 -290,689 7,476,745
Other financial liabilities 17 - 94,772 94,772
Provisions 18 36,473 - 36,473
Total non-current liabilities 7,803,907 -195,917 7,607,990
Current liabilities
Borrowings 15 1,592,293 - 1,592,293
Trade payables 16
Total outstanding dues of Micro Enterprises & Small Enterprises 625 - 625
Total outstanding dues of Creditors other than Micro Enterprises & Small Enterprises 1,834,034 - 1,834,034
Other financial liabilities 17 45,322 3,760 49,082
301
Other current liabilities 19 832,538 - 832,538
Provisions 18 93,430 - 93,430
Total current liabilities 4,398,242 3,760 4,402,002
Total equity and liabilities 22,099,563 -39,614 22,059,948
Reconciliation between previous GAAP and Ind AS as at March 31, 2016 Notes Previous GAAP * Adjustments Ind AS
ASSETS
Non-current assets
Property, plant and equipment 4 15,484,237 -13,711 15,470,526
Capital work-in-progress 623,369 - 623,369
Other Intangible assets 5 34,412 -1,346 33,066
Financial assets
(i) Investments 6 84,947 - 84,947
(iv) Other financial assets 8 40,181 169,228 209,409
Other non-current assets 10 723,100 1,102 724,202
Total non-current assets 16,990,246 155,273 17,145,519
Current Assets
Inventories 11 2,521,108 - 2,521,108
Financial Assets - -
Trade Receivables 7 892,201 -2,310 889,891
Cash and cash equivalents 12 106,505 - 106,505
302
Other financial assets 8 91,415 -8,051 83,364
Other current assets 10 161,505 -3,303 158,203
Total current assets 3,772,734 -13,664 3,759,070
Total assets 20,762,981 141,608 20,904,589
EQUITY AND LIABILITIES
Equity
Equity Share capital 13 23,740,892 - 23,740,892
Other Equity 14 (14,782,216) 152,336 (14,629,880)
Total equity 8,958,676 152,336 9,111,012
Liabilities
Non-current liabilities
Financial Liabilities -
Borrowings 15 7,703,527 -6,369 7,697,158
Other financial liabilities 17 - - -
Provisions 18 40,818 - 40,818
Other non-current liabilities 19 - - -
Total non-current liabilities 7,744,345 -6,369 7,737,976
Current liabilities
Borrowings 15 2,342,195 - 2,342,195
Trade payables 16
303
Total outstanding dues of Micro Enterprises & Small Enterprises 6,365 - 6,365
Total outstanding dues of Creditors other than Micro Enterprises & Small Enterprises 1,165,108 - 1,165,108
Other financial liabilities 17 58,001 (4,358) 53,643
Other current liabilities 19 394,639 - 394,639
Provisions 18 93,649 - 93,649
Total current liabilities 4,059,957 -4,358 4,055,599
Total equity and liabilities 20,762,981 141,608 20,904,589
304

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GERDAU STEEL INDIA PRIVATE LIMITED

Standalone Financial Statements for period 01/04/2016 to 31/03/2017

[700300] Disclosure of general information about company

Disclosure of principal product or services [Table] ..(1)

[700600] Disclosures - Directors report

Details of directors signing board report [Table] ..(1)

Director identification number of director 07268366 06738209

Details of shareholding pattern [Table] ..(1)

Details of shareholding pattern [Table] ..(2)

Details of shareholding pattern [Table] ..(3)

Details of shareholding pattern [Table] ..(4)

Details of shareholding pattern [Table] ..(5)

Details of shareholding pattern [Table] ..(6)

Details of shareholding pattern [Table] ..(7)

Details of shareholding pattern [Table] ..(8)

Details of indebtedness of company [Table] ..(1)

Details of indebtedness of company [Table] ..(2)

Particulars of holding, subsidiary and associate companies [Table] ..(1)

Details of shareholding of promoters [Table] ..(1)

Details of change in promoters’ shareholding [Table] ..(1)

Details of shareholding pattern of top 10 shareholders [Table] ..(1)

Details of shareholding pattern of top 10 shareholders [Table] ..(2)

Percentage of total shares held at end of

Increase decrease in shareholding during year [shares] 0 [shares] 0

Percentage of total shares held at end of

Details of shareholding pattern of top 10 shareholders [Table] ..(3)

Details of shareholding pattern of top 10 shareholders [Table] ..(4)

Percentage of total shares held at end of

Increase decrease in shareholding during year [shares] 0 [shares] 0

Percentage of total shares held at end of

Details of shareholding pattern of top 10 shareholders [Table] ..(5)

Details of shareholding pattern of top 10 shareholders [Table] ..(6)

Details of shareholding pattern of top 10 shareholders [Table] ..(7)

Percentage of total shares held at end of

Increase decrease in shareholding during year [shares] 0 [shares] 0

Percentage of total shares held at end of

Details of shareholding pattern of top 10 shareholders [Table] ..(8)

Details of shareholding pattern of top 10 shareholders [Table] ..(9)

Percentage of total shares held at end of

Increase decrease in shareholding during year [shares] 0 [shares] 0

Percentage of total shares held at end of

Details of shareholding pattern of top 10 shareholders [Table] ..(10)

Details of shareholding pattern of top 10 shareholders [Table] ..(11)

Unless otherwise specified, all monetary values are in Thousands of INR

Details of change in promoters shareholding [TextBlock] No Change

Details of change in promoters’ shareholding [Abstract]

Percentage of total shares held at end of period 100.00% 100.00%

Details regarding auditors' qualification(s), reservation(s) adverse

There has been

Details of deposits which are not in compliance with requirements

Disclosure of appointment and remuneration of director or

Statement showing details of employees of company under

Top ten employed throughout the financial year was in

Textual information (1)

Auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report

Textual information (2)

Directors' comment on auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report

Textual information (3)

Annual Report FY'17

Annual Report FY'17

Annual Report FY'17