Jindal Steel & Power Ltd.

: Company Profile
Industry Business Group Steel - Sponge Iron Jindal O P Group BSE Code 532286 NSE Code JINDALSTEL ISIN No INE749A01030 Market Lot Face Value 1 Rs. 1.00

Chairman and Ma Mr. Naveen Jindal

Book Closure 16/09/2011

The Profile page of the company captures the details in brief on Company's Address, Top management, Listings in detail. Registered Office O.P. Jindal Marg Hissar, Haryana - 125005 Tel: 01662-222471, 222472, 222473 Fax: 01662-222476 Email: investor_redressal@ngr.jindalsteel.com Website: www.jindalsteelpower.com Registrar & Share Transfer Agent Alankit Assignment Ltd. No.2E/21, Alankit House, Jhandewalan Extn., New Delhi - 110055, Delhi. Tel: 51540060, 51540063 Fax: 51540064

Key Officials
Name Naveen Jindal T K Sadhu Designation Chairman and Managing director Company Secretary & Compliance Officer

Other Details
Listings BSE , NSE

Quarterly Trends
Year Ends (Months) 201112(3) Operating Income Other Recurring Income Operating Profit Gross Profit Reported PAT Equity Capital OPM (%) GPM (%) NPM (%) 3,298.32 20.22 995.47 860.39 461.07 93.48 30.18 25.92 13.89 Last 4 Quarters 201109(3) 3,333.81 7.72 1,086.71 948.56 395.79 93.45 32.59 28.38 11.84 201106(3) 2,526.53 16.65 963.42 847.60 470.16 93.45 38.13 33.32 18.48

(Rs. in crore)
201103(3) 2,742.19 123.21 1,069.14 1,086.25 648.33 93.43 38.98 37.90 22.62

Annual Trends
Year Ends (Months) 201103(12) Equity Capital Reserves & Surplus Operating Income Operating Profit Other Income Reported PAT OPM (%) 93.43 8,594.12 9,543.47 3,681.54 266.86 2,064.12 38.57 Last 4 Annual Results 201003(12) 93.12 6,652.88 7,347.44 2,555.48 205.37 1,479.68 34.78 200903(12) 15.47 5,399.85 7,677.83 2,637.86 199.46 1,536.48 34.35

(Rs. in crore)
200803(12) 15.40 3,740.98 5,368.14 2,295.91 57.31 1,236.96 42.76

NPM (%) EPS (Rs.) Return on Networth

21.04 22.09 23.76

19.59 15.89 21.94

19.5 99.35 28.38

22.79 80.34 32.95

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Jindal Steel & Power Ltd. : Auditor Report

Industry Business Group Steel - Sponge Iron Jindal O P Group BSE Code 532286 NSE Code JINDALSTEL ISIN No INE749A01030 Market Lot Face Value 1 Rs. 1.00

Chairman and Ma Mr. Naveen Jindal

Book Closure 16/09/2011

You can view the entire text of Auditor's Report of the company for the latest year. Year End : 201103 1. We have audited the attached Balance Sheet of Jindal Steel & Power Limited, as at 31st march, 2011, the Profit & Loss account and the Cash Flow statement for the year ended on that date annexed thereto. these financial statements are the responsibility of the Company's management. our responsibility is to express an opinion on these financial statements based on our audit. 2. We conducted our audit in accordance with the auditing standards generally accepted in India. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement presentation. we believe that our audit provides a reasonable basis for our opinion. 3. As required by the Companies (Auditors' Report) order, 2003 as amended by the Companies (Auditors' Report) (Amendment) order, 2004 issued by the Central Government of India in terms of section 227 (4A) of the Companies Act, 1956 and on the basis of such checks as we considered appropriate and according to the information and explanations given to us, we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said order. 4. Further to our comments in the Annexure referred to above, we report that: (i) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit; (ii) In our opinion, proper books of account as required by law have been kept by the Company so far as appears from our examination of those books; (iii) the Balance Sheet, Profit & Loss account and Cash Flow Statement dealt with by this report are in agreement with the books of account;

(iv) In our opinion and read with note no. B.3 of schedule 20 regarding accounting for sales tax included in sales price of products sold out of sales tax exempted unit under Sales Tax Subsidy Reserve account, the Balance Sheet, Profit & Loss account and Cash Flow statement dealt with by this report comply with the accounting standards referred to in sub - section (3C) of section 211 of the Companies Act, 1956; (v) on the basis of written representations received from the directors, as on 31st march, 2011 and taken on record by the Board of directors, we report that none of the directors is disqualified as on 31st march, 2011 from being appointed as a director in terms of clause (g) of sub section (1) of section 274 of the Companies Act, 1956; (vi) In our opinion and to the best of our information and according to the explanations given to us, the said accounts read with the Accounting Policies and Notes thereon give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: (a) in the case of the Balance Sheet, of the state of affairs of the Company as at 31st march, 2011; (b) in the case of the Profit and Loss account, of the Profit for the year ended on that date; and (c) in the case of the Cash Flow statement, of the Cash Flows for the year ended on that date. Annexure to Auditors' Report Referred to in paragraph 3 of our report of even date 1. (a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. (b) The Company has a phased programme of physical verification of its fixed assets which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. As part of this programme, the management has physically verified certain fixed assets during the year. discrepancies noticed on such verification as compared to book records, which were not material, have been properly adjusted in the books of account. (c) Fixed assets disposed off during the year were not substantial. 2. (a) As explained to us, physical verification has been conducted by the management at reasonable intervals in respect of finished goods, stores and spare parts and raw materials. Further, stock in the possession and custody of third parties and stock in transit as at 31st march, 2011 have been verified by the management with reference to confirmation or statement of account or correspondence with the third parties or subsequent receipts of goods. in our opinion, the frequency of such verification is reasonable. (b) the procedures for the physical verification of inventories followed by the management are, in our opinion, reasonable and adequate in relation to the size of the Company and the nature of its business. (c) In our opinion, the Company is maintaining proper records of inventory. The discrepancies noticed on physical verification of inventory as compared to book records were not material and have been properly dealt with in the books of account. 3. (a) The Company has not granted any loans, secured or unsecured, to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956. (b) Since there are no such loans, comments regarding terms and conditions, repayment of the principal amount, interest due thereon and overdue amounts are not required. (c) The Company has not taken any loans, secured or unsecured, from companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956.

(d) Since there are no such loans, comments regarding terms and conditions, repayment of the principal amount, interest due thereon and overdue amounts are not required. 4. In our opinion and according to the information and explanations given to us during the course of audit, there are adequate internal control system commensurate with the size of the Company and the nature of its business with regard to purchase of inventories and fixed assets and for the sale of goods and services. Further, on the basis of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, we have neither come across nor have we been informed of any instance of a major weakness in the aforesaid internal control system. 5. (a) To the best of our knowledge and belief and according to the information and explanations given to us, we are of the opinion that the particulars of transactions that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered. (b) In our opinion and according to the information and explanations given to us, the transactions with parties, with whom transactions exceeding the value of Rupees Five Lacs in respect of each party have been entered into during the financial year, are at prices which are reasonable having regard to the prevailing market prices at the relevant time where such market prices are available. 6. in respect of fixed deposits accepted from the public, the provisions of section 58A and 58AA or any other relevant provisions of the Companies Act, 1956 includingthe Companies (Acceptance of deposit) Rules, 1975 have been complied with. We have been informed that no order has been passed by the Company Law Board or National Company Law tribunal or RBi or any Court or any other Tribunal in this regard. 7. In our opinion, the Company has an internal audit system commensurate with the size and nature of its business. 8. We have broadly reviewed the cost accounting records maintained by the Company pursuant to the rules prescribed bythe Central Government for the maintenance of cost records under clause (d) of sub-section (1) of section 209 of the Companies Act, 1956 and are of the opinion that, prima facie, the prescribed accounts and records have been made and maintained. We are, however, not required to make a detailed examination of such books and records. 9. (a) In our opinion and according to the information and explanations given to us and according to the records of the Company, undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income tax, Sales tax, Wealth tax, Service tax, Custom duty, Excise duty, Cess and other material statutory dues, wherever applicable, have been regularly deposited with the appropriate authorities and there are no undisputed statutory dues payable for a period of more than six months from the date they became payable as at 31st march,2011. (b) According to the information and explanations given to us and as per the books and records examined by us, there are no dues of Custom duty and Wealth tax which have not been deposited on account of any dispute, except the following in respect of disputed Excise duty, Sales tax, Service tax, Cess, Entry tax and Income tax :

Name of the Statute Central Excise and Salt Act, 1944

Nature of dues Excise duty

Amount (Rs. in Lacs) 155.00 63.68 24,506.22 253.88 10.38 3455.99 0.88 44.05

Central Sales tax Act/Local Sales Tax Act / Entry Tax Central Sales tax Act/Local

Entry Tax Entry Tax Central Sales

Central Sales tax Act/Local State Sales Tax 20.21 Sales Tax Act/Entry Tax

Sales Tax Act/Entry Tax Chhattisgarh State Govt. Law Business & other Construction Workers Welfare Cess Act, 1996 Income Tax Act, 1961 Name of the Statue

Tax Energy development Cess Cess Income Tax Forum where dispute is pending 71.93 10406.66 6922.00 11,103.17 7,617.38 Amount deposited (Rs. in Lacs) 100.00 NIL 113.08 NIL NIL

Central Excise and Salt Act, 1944 Chhatisgarh High Court, Bilaspur Appellate Commissioner, Raipur CESTAT, Delhi Chattisgarh High Court, Bilaspur Madhya Pradesh High court, Jabalpur
Central Sales tax Act/Local Sales Tax Act / Entry Tax Deputy Commissioner, 1152.00

Commercial Tax (Appeals) ,Rourkela Deputy Commissioner , Commercial Tax (Appeals),Cuttack Central Sales tax Act/Local Sales Tax Act/Entry Tax Deputy Commissioner, Commercial Tax (Appeals), Cuttack Central Sales tax Act/Local Sales Tax Act/Entry Tax Orissa High Court, Cuttack Deputy Commissioner, Commercial Tax, Cuttack Chhattisgarh State Govt. Law Honorable Supreme Court
Business & other Construction Workers Welfare Cess Act, 1996 Orissa High Court,Cuttack 5.00

0.36

3.79

44.05 28.72 NIL 121.97 NIL

Income Tax Act, 1961

Income Tax Appellate Tribunal, New Delhi Commissioner of Income Tax (Appeals), Rohtak

10. The Company does not have accumulated losses as at the end of the financial year. there are no cash losses during the financial year under report and in the immediately preceding financial year. 11. According to the information and explanations given to us and as per the books and records examined by us, the Company has not defaulted in repayment of dues to any financial institution or bank or debenture holders. 12. According to the information and explanations given to us, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. 13. The Company does not fall within the category of Chit fund / Nidhi / mutual benefit fund / Society and

hence the related reporting requirements of the order are not applicable. 14. According to the information and explanations given to us, the Company is not dealing or trading in shares, securities, debentures and other investments and hence the related reporting requirements of the order are not applicable. 15. The Company has given guarantees against loans taken by others from banks and financial institutions; the terms and conditions of such guarantees are not, prima facie, prejudicial to the interest of the Company. 16. In our opinion and according to the information and explanations given to us, the term loans raised during the year by the Company have been applied for the purpose for which the said loans were obtained, where the lenders have stipulated such end use. 17. According to the information and explanations given to us and as per the books and records examined by us, on an overall examination of the Balance Sheet of the Company, the funds raised by the Company on short-term basis have not been applied for long-term purposes. 18. The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Companies Act, 1956. 19. According to the information and explanations given to us and on the basis of the records examined by us, the Company has created necessary securities for the debentures issued in earlier years. 20. The Company has not raised any money by way of public issue during the year. 21. during the course of our examination of the books and records of the Company carried out in accordance with the generally accepted auditing practices in India, we have neither come across any instance of fraud on or by the Company, noticed and reported during the year, nor have we been informed of such case by the management.

Place: New Delhi Dated: 21st April, 2011

For S. S. KOTHARI MEHTA & CO. Chartered Accountants Registration No. 000756N (ARUN K. TULSIAN) Partner Membership No. 89907
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Jindal Steel & Power Ltd. : Capital Structure

Industry Business Group Steel - Sponge Iron Jindal O P Group BSE Code 532286 NSE Code JINDALSTEL ISIN No INE749A01030 Market Lot Face Value 1 Rs. 1.00

Chairman and Ma Mr. Naveen Jindal

Book Closure 16/09/2011

You can view the break up of the capital of the company. From Year 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 To Year Class Of Share Authorized Issued Capital Capital (Crores) (Crores) 2011 Equity Share 200.00 93.43 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 Equity Share Equity Share Equity Share Equity Share Equity Share Equity Share Equity Share Equity Share Equity Share Equity Share Equity Share Equity Share Equity Share 200.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 93.12 15.47 15.40 15.40 15.40 15.40 15.40 14.63 12.90 12.71 12.71 0.10 0.10 Paid Up Paid Up Shares Face Value (Nos) 934269031 1 931234082 154652683 153961340 30792268 30792268 30792268 30792268 14631134 12896112 12712262 12712262 100000 100000 1 1 1 5 5 5 5 10 10 10 10 10 10 Paid Up Capital (Crores) 93.43 93.12 15.47 15.40 15.40 15.40 15.40 15.40 14.63 12.90 12.71 12.71 0.10 0.10

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Profile Management Balance Sheet

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Jindal Steel & Power Ltd. : Balance Sheet

Industry Business Group Steel - Sponge Iron Jindal O P Group BSE Code 532286 NSE Code JINDALSTEL ISIN No INE749A01030 Market Lot Face Value 1 Rs. 1.00

Chairman and Ma Mr. Naveen Jindal You can view Balance Sheet for the last 5 years.

Book Closure 16/09/2011

(Rs in Cr.)

Mar ' 11 SOURCES OF FUNDS Owner's Fund Equity Share Capital Share Application Money Preference Share Capital Reserves & Surplus Loan Funds Secured Loans Unsecured Loans 5,530.93 6,583.74 93.43 1.79 0.00 8,594.12

Mar ' 10

Mar ' 09

Mar ' 08

Mar ' 07

93.12 0.00 0.00 6,652.88

15.47 0.00 0.00 5,399.85

15.40 0.00 0.00 3,740.98

15.40 0.00 0.00 2,481.33

4,235.16 4,148.10

2,105.49 2,857.16

1,783.39 2,079.96

2,115.61 1,392.11

Total

20,804.01

15,129.26

10,377.97

7,619.73

6,004.45

USES OF FUNDS Fixed Assets Gross Block Less : Revaluation Reserve Less : Accumulated Depreciation Net Block Capital Work-in-progress 12,787.35 0.00 2,786.93 10,000.42 7,077.87 8,814.21 0.00 2,110.15 6,704.06 7,225.21 7,362.90 0.00 1,617.00 5,745.90 2,318.01 5,918.94 0.00 1,183.11 4,735.83 660.48 4,929.03 0.00 781.75 4,147.28 937.84

Investments

1,210.01

1,067.11

1,233.40

1,036.19

709.82

Net Current Assets Current Assets, Loans & Advances Less : Current Liabilities & Provisions Total Net Current Assets Miscellaneous expenses not written 8,200.13 5,687.61 2,512.52 3.19 5,175.50 5,045.64 129.86 3.02 5,189.28 4,111.64 1,077.64 3.02 3,299.57 2,115.48 1,184.09 3.14 1,801.66 1,595.39 206.27 3.24

Total

20,804.01

15,129.26

10,377.97

7,619.73

6,004.45

Note : Book Value of Unquoted Investments Market Value of Quoted Investments Contingent liabilities Number of Equity shares outstanding (in Lacs) 1,210.01 0.00 11,034.95 9,342.69 1,067.11 0.00 8,733.08 9,312.34 1,233.40 0.00 4,967.08 1,546.53 1,036.19 0.00 5,476.85 1,539.61 709.82 0.00 3,029.51 307.92

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Jindal Steel & Power Ltd. : Ratio Analysis

Industry Business Group Steel - Sponge Iron Jindal O P Group BSE Code 532286 NSE Code JINDALSTEL ISIN No INE749A01030 Market Lot Face Value 1 Rs. 1.00

Chairman and Ma Mr. Naveen Jindal

Book Closure 16/09/2011

You can view the most widely used ratios such as Per share, Profitability, Leverage, Liquidity, Coverage ratios etc. Besides the ratios can be viewed for a period of 5 years

Mar ' 11 PER SHARE RATIOS

Mar ' 10

Mar ' 09

Mar ' 08

Mar ' 07

Adjusted E P S (Rs.) Adjusted Cash EPS (Rs.) Reported EPS (Rs.) Reported Cash EPS (Rs.) Dividend Per Share Operating Profit Per Share (Rs.) Book Value (Excl Rev Res) Per Share (Rs.) Book Value (Incl Rev Res) Per Share (Rs.) Net Operating Income Per Share (Rs.) Free Reserves Per Share (Rs.)

22.35 29.72 22.09 29.45 1.50 39.41 93.00 93.00 102.15 87.46

15.99 21.49 15.89 21.39 1.25 27.44 72.44 72.44 78.90 67.83

108.04 136.05 99.35 127.36 5.50 170.57 350.05 350.05 496.46 327.99

90.47 119.81 80.34 109.69 4.00 149.12 243.92 243.92 348.67 230.73

225.42 334.78 228.30 337.66 18.00 457.85 810.63 810.63 1,144.14 773.29

PROFITABILITY RATIOS

Operating Margin (%) Gross Profit Margin (%) Net Profit Margin (%) Adjusted Cash Margin (%) Adjusted Return On Net Worth (%) Reported Return On Net Worth (%) Return On long Term Funds (%)

38.57 31.36 21.04 28.29 24.04 23.76 20.11

34.78 27.80 19.59 26.49 22.08 21.94 18.06

34.35 28.71 19.50 26.71 30.87 28.38 25.01

42.76 34.35 22.79 33.99 37.11 32.95 26.60

40.01 30.46 19.75 28.96 27.83 28.19 21.54

LEVERAGE RATIOS

Long Term Debt / Equity Total Debt/Equity Owners fund as % of total Source Fixed Assets Turnover Ratio

0.86 1.39 41.76 0.74

0.84 1.24 44.58 0.83

0.77 0.91 52.18 1.04

0.90 1.03 49.29 0.90

1.06 1.40 41.58 0.71

LIQUIDITY RATIOS

Current Ratio Current Ratio (Inc. ST Loans) Quick Ratio Inventory Turnover Ratio

1.44 0.78 1.04 5.81

1.03 0.64 0.74 8.05

1.26 1.04 0.94 9.08

1.56 1.25 1.10 7.01

1.13 0.67 0.72 6.99

PAYOUT RATIOS

Dividend payout Ratio (Net Profit)

6.97

8.16

5.55

5.86

9.14

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Jindal Steel & Power Ltd. : Annual Results

Industry Business Group Steel - Sponge Iron Jindal O P Group BSE Code 532286 NSE Code JINDALSTEL ISIN No INE749A01030 Market Lot Face Value 1 Rs. 1.00

Chairman and Ma Mr. Naveen Jindal

Book Closure 16/09/2011

You can view the latest 5 yearly unaudited results. (Rs in Cr.)

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Mar ' 07

Sales Other Income Stock Adjustment Raw Material Power And Fuel Employee Expenses Excise Admin And Selling Expenses Research And Devlopment Expenses Expenses Capitalised Other Expenses Provisions Made Operating Profit Interest Gross Profit Depreciation Taxation Net Profit / Loss Extra Ordinary Item Prior Year Adjustments

9,573.63 143.71 -333.44 2,781.00 637.52 277.78 0.00 0.00 0.00 0.00 2,558.33 0.00 3,652.44 355.02 3,441.13 687.77 689.24 2,064.12 0.00 0.00

7,367.59 117.31 -19.90 2,253.05 449.97 214.87 0.00 0.00 0.00 0.00 1,927.30 0.00 2,542.30 239.95 2,419.66 512.15 427.82 1,479.69 0.00 0.00

7,653.19 146.24 -97.75 2,676.61 474.88 177.53 0.00 0.00 0.00 0.00 1,929.25 0.00 2,492.67 204.00 2,434.91 433.03 465.40 1,536.48 0.00 0.00

5,410.75 49.12 -160.27 1,334.02 451.75 144.99 0.00 0.00 0.00 0.00 1,508.87 0.00 2,131.39 226.49 1,954.02 451.51 265.55 1,236.96 0.00 0.00

3,919.79 28.97 -60.14 786.38 380.68 93.70 399.98 0.00 0.00 0.00 916.79 0.00 1,402.40 150.06 1,281.31 336.47 241.85 702.99 0.00 0.00

Equity Capital Equity Dividend Rate Agg.Of Non-Prom. Shares (in Lacs) Agg.Of Non PromotoHolding(%) OPM(%) GPM(%) NPM(%) EPS (in Rs.)

93.43 0.00 3,885.60 41.59 38.15 35.41 21.24 22.09

93.12 0.00 3,855.77 41.41 34.50 32.32 19.76 15.89

15.46 0.00 637.92 41.25 32.57 31.21 19.69 99.38

15.40 0.00 633.33 41.14 39.39 35.78 22.65 80.32

15.40 0.00 126.11 40.96 35.77 32.44 17.80 45.65

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