Gail Ar 2012-13
Gail Ar 2012-13
Gail Ar 2012-13
Corporate Overview
1-14
CMD Message
16
Board of Directors
20
Directors' Report
22
35
44
58
66
Financial Statements
70
113
115
116
117
118
119
160
162
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
GAIL Today
10,700
KM
2,038
KM
3.8
MMTPA
30
0.41
MMTPA
1.4
MMTPA
Natural
Gas
Pipeline
Network
210
MMSCMD
Natural
Gas
Pipeline
Capacity
LPG
Pipeline
Network
Transmission
Capacity
of
LPG
Number of
E&P Blocks
in which
GAIL is a
stakeholder
Polymer
Production
Capacity
Number of
Gas
Processing
Plants for
Production
of LPG
and OLHCs
Production
Capacity
of
LPG and
OLHCs
Vision
Be the Leading Company in Natural Gas and Beyond,
with Global Focus, Committed to Customer Care,
Value Creation for all Stakeholders and
Environmental Responsibility.
Mission
To accelerate and optimise the effective and
economic use of Natural Gas and its fractions to the
benefit of national economy.
Natural Gas
Over
l10,700 kms of network
l
Expanding to 15,000 kms
l
Sophisticated Gas management System
l
Pursuing for expansion of markets
l
Participation in RGPPL ( 5 MMTPA LNG Regasification
Facility)
l
GAIL Gas Limited, 100% subsidiary, has setup CGD
with capacity of
0.41 MMTPA
l
Doubling the capacity
by FY 2014
l
Participation in BCPL & OPaL
G-Lene
G-Lex
Pressure Pipes, OFC Ducts, Blow
Molded Containers, Thin Films,
Monofilament, Raffia etc.
Liquid Hydrocarbons
l Processing units producing LPG,
7 Gas
Propane, Pentane
PROPANE
PENTANE
Power Plant
Group
Strength
Subsidiaries
GAIL Global (USA) Inc.
Joint Ventures
l
Aavantika Gas Limited
l
Mahanagar Gas Limited
l
Bhagyanagar Gas Limited
l
Maharashtra Natural Gas Limited
l Petro-additions Limited
ONGC
l
GAIL China Gas Global Energy Holdings Limited
l
Petronet LNG Limited
l Gas Limited
Green
l
Ratnagiri Gas and Power Private Limited
l
Indraprastha Gas Limited
We are an equity partner in two retail gas companies in Egypt, namely Fayum Gas Company (FGC) and
National Gas Company (Natgas). GAIL has a representative office in Cairo, Egypt to pursue business
opportunities in Africa and the Middle East.
GAIL is a part of a consortium in two offshore E&P blocks in Myanmar and also holds participating
interest in South East Asia Gas Pipeline Company Limited incorporated for transportation of gas to be
produced from two blocks in Myanmar to China.
Shareholder Information
Equity Share ISIN - INE129A01019
Stock Exchange
Security Code
BSE
532155
NSE
GAIL
Accreditation
AAA
l - Highest domestic credit rating from ICRA, CARE and CRISIL
Baa2
l - Corporate issuer rating by Moody's International, Hong Kong
Assigned a long-term foreign currency issuer default rating of BBB-with a negative outlook by Fitch Ratings
l
In line
l with the latest global standards of GRI, which is the de-facto international benchmark and externally
assured with application level A+
ISO
l 9001,
ISO 14001 and OHSAS 18001 accreditations, committed towards creating, maintaining and
ensuring quality products with a safe and clean environment
Growing
with
Green Energy
2013
l
Achieved Maharatna Status
l
Commissioned Dabhol
Terminal
l
Capacity Booking in Cove
Point LNG terminal
2012
2011
l
First PSU to acquire shale
gas acreage in US
in US
l Henry Hub linked
Signed
LNG deal
l
Subsidiary
2004
l Vijaipur Pipeline
Dahej
l
Subsidiary company in
2001
Singapore
l largest JLPL
Asias
LPG transmission
Pipeline
1999
l
First Petrochemical
Plant at Pata
1997
l
Navratna Status
1990
1987
1984
l
First LPG plant
HVJ - Commissioned
l GAIL for
Birth of
Energised
Performance
PAT
47333
(` Crore)
4,022
(` Crore)
3,561
40281
32459
3,654
2010-11
2011-12
3,140
2,804
23,898
24996
2008-09
2009-10
2010-11
2011-12
2012-13
2008-09
(`)
(`)
29
9.60
8.70
25
22
2008-09
7.50
7.50
2009-10
2010-11
7.00
2009-10
2012-13
32
28
2009-10
2010-11
2011-12
2012-13
Net Worth
2008-09
2011-12
2012-13
Capital Employed
(` Crore)
(` Crore)
35,591
24,038
21,449
28,741
19,054
23,197
16,607
19,669
14,575
17,296
2008-09
2009-10
2010-11
2011-12
2012-13
2008-09
2009-10
2010-11
2011-12
2012-13
9%
74%
FY 2012-13
6%
9%
1%
8%
1%
E AB
76%
FY 2012-13
10%
25%
27%
E
E
38%
27%
B
C
D
B
5%
20%
A
2%
24%
22%
Human Resources
Your Company lays strong emphasis on attracting and acquiring best talent and also on efficient
deployment of manpower on right jobs as per business requirements of the Company.
Your Company maintained congenial industrial relations during the year. No person
days or person hours were lost on account of industrial conflict or any other
disturbance.
*Source: As per'India's Best Companies to Work For Study 2013' conducted by Great Places to Work For Institute, India.
10
Momentum
of a Maharatna
As India's youngest Maharatna,
we have created a strong foundation for long-term growth.
Operates
th
3/4
1/2
Produces
Responsible for
1/5 th
1/4th
of polyethylene
produced in India
of India's total
LPG pipeline transmission
10th
LPG cylinder in India
1/2
1/2
11
of India's gas-based
power generation
Responding
to the Energy
Challenge
At GAIL, we believe India's growing population and sustained economic growth will continue to drive
the demand for energy. These trends will be shaped by other important considerations like energy
security, affordability and environmental concerns.
The factors may accelerate the journey towards more diverse sources of energy supply, with emphasis
on lower carbon footprint, enhanced efficiency and demand management. We are strengthening our
core capability to meet the country's energy challenge.
By expanding our portfolio of upstream assets in the coming years, we are well equipped to help meet
the country's growing energy needs. We also entered into a Memorandum of understanding (MoU) with
EDF Trading North America, LLC for cooperation in the areas of North American upstream equity gas
investments, gas supply to export facilities and LNG supply optimization.
Deals Undertaken
1)
2)
Last
lmile
Paradip Pipeline
12
12
Thrust-wise Allocation
Area
Amount
(in ` Crores)
Educational/Literacy enhancement
92
Break-up
Crores
11.33
Infrastructure development
8.86
Skill Development/Empowering
24.67
Community development
22.87
Healthcare/Medical Facilities
9.71
4.62
Environment protection/Horticulture
0.60
9.34
Empowering Communities
Education
l
Undertook
13
l
Provided
l
Operated
l
Invested
l
Infrastructure
Infrastructure Development
l
Improved the connectivity between villages, towns and cities
l
Forming bonds within the community through construction of
community centre.
l
Constructing social infrastructure like
l
Undertaking
Skill Development/Empowerment
l
Trained
l
Imparted skills training in embroidery, stitching and tailoring,
l
Provided
l
Upgraded
l
Contributed
l
Established
Pradesh
l
Established
l
Organized Eye care camp to support prevention of blindness
l
Collaborated with Sulabh Sanitation Mission Foundation for
Healthcare Initiatives
Environment Protection
l
Provided
l
Developed
14
Dear Shareholder,
It gives me immense pleasure to present to you the Annual Report
and Accounts of your Company for the year ended 31st March
2013 - its first after attaining the status of a Maharatna. Your
Company is the Youngest Public Sector Enterprise to attain this
coveted recognition. This status provides greater operational
flexibility and higher empowerment to undertake mergers &
acquisitions and investments in joint ventures, subsidiaries etc. It
will enable your Company to expand its global footprint and work
towards enhancing India's energy security.
Your Company performed commendably against the backdrop of a
challenging global economic and business scenario. Economic
growth in India also slowed down during 2012-13 while the
Government is pursuing policy measures to put the economy back
on growth path. In this context, it is pertinent to mention that energy
plays a key role not only in driving India's economic growth but also
social progress. However, India is an energy deficit country with a
large majority of people not having access to clean and modern
sources of energy. This places a big responsibility on your Company
to not only secure adequate and clean energy resources but also to
make them available at affordable prices to people and industries.
Your Company is taking several steps to ensure the supply of the
cleanest fossil fuel - natural gas -across the length and breadth of
India through building necessary physical and soft infrastructure.
Natural Gas currently comprises around 10% of India's energy
basket which may reach 15% by 2020. The current emphasis on
natural gas will rise further in India's journey towards a low-carbon
economy.
During the year 2012-13, your Company registered an 18% increase
in Net Revenue to `47,333 Crore, which is also the highest ever in its
history. Despite sharing subsidies on price-sensitive petroleum
products to the tune of ` 2,687 Crore, the Profit after Tax increased
by 10% to ` 4,022 Crore during the year.
To secure natural gas supply, your Company executed a long-term
LNG supply agreement for 2.5 MMTPA with Gazprom Marketing
and Trading Ltd., Singapore. It also entered into a long-term
liquefaction tolling capacity agreement for 2.3 MMTPA of LNG
with Dominion Resources Inc. of the US. Your Company contracted
Mid-term LNG supply agreements with Gas Natural Fenosa, Spain
and GDF, France besides importing spot cargoes to meet short
term demand.
Your Company has commissioned 5 MMTPA LNG Terminal at
Dabhol, Maharashtra as Owner's Engineer and will be the
Commercial Operator of the terminal for 25 years. This Terminal
will act as the gateway to meet the gas demand of consumers in
Maharashtra, Goa and Karnataka through imported gas. To meet
the ever increasing demand along its existing pipeline network,
your Company also reserved 2.5 MMTPA capacity in the planned
expansion of LNG terminal at Dahej in Gujarat.
16
Functional
Structure
Director
(BD)
Director
(HR)
HR
CMD
HRD
Vigilance
Company Secretary
Internal Audit
Training
CSR
Law
Security
RTI
Co-ordination
& Official Language
L&PA
Director
(Projects)
Projects
Pipeline
Petrochemical Plant
Renewable Energy
O&M
Director
(Marketing)
Joint Ventures
BD
M&A
Diversification
International Business
Corporate Planning
Project Development
E&P
Accounts
R&D
TQM
Taxation
HSE
Project Evaluation
Risk Management
Director
BOARD STRUCTURE
(Finance)
Functional
Directors
Government Nominee
Directors
Independent
Directors
Sh. P. K. Singh
Director
Dr. A. K. Khandelwal
Director
Sh. S. Venkatraman
Director
(Business Development)
Sh. P.K. Jain
Director (Finance)
Sh. M. Ravindran
Director (Human Resources)
Gas Sourcing
(Domestic and International)
Gas Marketing &
Transmission
Polymer Marketing
LHC Marketing
City Gas Distribution
Market Development
Pricing
Regulatory Affairs
Corporate Communication
Petrochemical Sourcing
Committees
of the Board
Audit Commitee
Arun Agarwal- Chairman l Singh l Gopinath
Prabhat
Shyamala
lKhandelwal
Dr. A K
Business Development & Marketing Committee
Shyamala Gopinath- Chairperson l Singh
Prabhat
l
S. Venkatraman l l l
P.K. Jain P.K. Singh Arun Agarwal
l Khandelwal
Dr. A.K.
Corporate Social Responsibility Committee
B.C. Tripathi- Chairman l
M. Ravindran l Gopinath
Shyamala
Employee Disciplinary Committee
Dr. A K Khandelwal - Chairman l
Two Functional Directors
(To be nominated by CMD on case-to case basis.)
Empowered Contracts & Procurement Committee (ECPC)
l all the Functional Directors. CMD is the Chairman of
CMD and
the Committee.
Empowered Committee (Natural Gas, LNG & Polymers) for
import of Natural Gas/LNG/Polymers
B.C. Tripathi - Chairman l Singh
Prabhat
l
S. Venkatraman l l
P.K. Jain P. K. Singh
Ethics Committee
Shyamala Gopinath - Chairperson l
S. Venkatraman
l
M. Ravindran
Finance Committee
Shyamala Gopinath - Chairperson l l
P.K. Jain Arun Agarwal
l Khandelwal
Dr. A. K.
H.R. Committee
B.C. Tripathi - Chairman lFunctional Directors
All the
l
Arun Agarwal lKhandelwal
Dr. A K
Health Safety & Environment Committee
Arun Agarwal - Chairman l
R.D. Goyal
l
S. Venkatraman
Project Appraisal Committee
B.C. Tripathi - Chairman l l l
P.K. Jain P K Singh Arun Agarwal
l
Concerned Functional Director
Remuneration Committee
Dr. A K Khandelwal - Chairman l Gopinath l
Shyamala
Arun
Agarwal
Shareholders/Investors Grievance Committee
Shyamala Gopinath - Chairperson l Singh
Prabhat
l
M. Ravindran
Stakeholders' Grievance Redressal Committee
Dr. A K Khandelwal - Chairperson l l
P.K. Jain Concerned
Functional Director not involved w.r.t. subject disputes
Sustainable Development Committee
l
Arun Agarwal - Chairman l
R.D. Goyal
l Singh l
Prabhat
S. Venkatraman l l
P.K. Jain M. Ravindran
18
Board of
Directors
Sh. S. Venkatraman
Sh. M. Ravindran
Director (Projects)
Director (Marketing)
Director (Finance)
Dr. A. K. Khandelwal
Director
(w.e.f. 26.06.2013)
Director
(w.e.f. 10.04.2013)
Director
Director
Director
Director
(upto 08.05. 2013)
Director
(upto 10.04.2013)
20
Directors'
Report
Directors' Report
Dear Shareholders,
On behalf of the Board of Directors of your Company, I am delighted to
present the 29th Annual Report of your Maharatna Company, along with
Audited Financial Statements for the financial year 2012-13.
YEAR IN RETROSPECT
The year gone by shall always be remembered as a golden year of your
Company. This year, your Company received Maharatna Status - another
recognition by the Government of India of your Company's potential and
efforts to be a global energy major. It also acknowledges the significant
role that your Company is playing in the nation's social and economic
development. Your Company is the youngest public sector undertaking to
be recognized with this honor.
Your Company made a landmark achievement by commissioning
5 MMTPA LNG regasification facility at Dabhol. Further, 1,000 Km long
Dabhol-Bengaluru pipeline project was also commissioned during
the year.
Subsidiary of your Company in the USA has signed a Terminal Service
Agreement (TSA) with Dominion Cove Point LNG LP in USA for a
commitment of 2.3 MMTPA liquefaction capacity in the Cove Point LNG
liquefaction terminal project in the US. The LNG from this terminal will be
available for bringing to India as well as trading it in the international
markets. With this milestone, your Company will have access to 5.8
MMTPA of LNG linked to Henry Hub prices.
Further, your Company has become the No 1 Indian Company in terms of
long term LNG and natural gas import tie-ups.
FINANCIAL HIGHLIGHTS
Your Company has recorded sustained growth in all key financial
parameters during the year 2012-13 and the important financial highlights
are as under:
(` in Crores)
Particulars
Turnover (Net of ED)
Other income
2012-13
2011-12
47,333
40,281
954
7,233
808
34,842
6,247
Interest
195
116
Depreciation
981
791
6,058
5,340
2,036
1,686
Appropriations
Interim dividend
507
381
710
723
203
179
(0.43)
(24)
13.13
402
365
2,187
2,030
Shri B.C. Tripathi, CMD GAIL speaking on the occasion of Investors & Analyst
Meet at Mumbai
DIVIDEND
Your Company has a consistent track-record of dividend payment. So far,
your Company has disbursed dividend of over ` 10,500 Crores to the
shareholders.
The Board of Directors of your Company had earlier approved payment of
an interim dividend @ 40% on equity share of `10 each (`4 per equity
share) amounting to `507 Crores, which was paid in February, 2013.
Further, the Board has recommended payment of final dividend @ 56% on
equity share of `10 each (` 5.60 per equity share) for 2012-13.
With this, the total dividend payment for the fiscal year 2012-13 will be
96% on equity share of ` 10 each (` 9.60/- per equity share) amounting to
` 1,217 Crores on its paid-up equity capital of ` 1,268.48 Crores, which is
highest ever dividend paid by the Company. The total dividend payout
including dividend tax accounts for 30.28% of profit after tax.
CONTRIBUTION TO EXCHEQUER
Your Company has contributed over ` 5,780 Crores in 2012-13 to the
exchequer through dividend, duties, taxes and others, as compared to
` 5,560 Crores in 2011-12.
CREDIT RATING
Your Company has been reaffirmed the highest domestic credit rating of
AAA from ICRA, CARE and CRISIL, which indicate the highest credit
quality and rated instruments carry the lowest credit risk. The
international rating agency, Moody's International, Hong Kong, has also
reaffirmed the corporate issuer rating of Baa2, which is one notch higher
than sovereign rating. Further, Fitch Ratings has also assigned a long-term
foreign currency issuer default rating of BBB- with a negative outlook,
which is equal to sovereign rating.
BUSINESS STRATEGY
To pursue a high growth trajectory, your Company has developed strategy
for the period from 2011- 2020. This strategy is currently under execution
and the Company is closely monitoring progress on various strategic
initiatives as well as keeping track of changes in external environment
that have potential impact on its business. The top management of your
Company has been playing a key role in driving it towards becoming an
integrated hydrocarbon major with significant upstream, midstream and
downstream interests by 2020.
22
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
23
Overseas
Total
10
10
15
15
Total
28
30
v pipeline projects
Natural gas
During the financial year, your Company completed commissioning
of various pipeline networks and auxiliary systems, having a length
of about 1,300 km, which include the following:
w Km Dabhol -Bengaluru Pipeline Project
1,000
w Ludhiana to Jalandhar and Saharanpur to Haridwar
164 Km
sections of Bawana Nangal Pipeline Spur Line Project
w mile consumer connectivity (74 km) extended to 34
Last
numbers of consumers for supplying around 7.96 MMSCMD
gas
w terminal at Dabhol commissioned as Owner's Engineer
RLNG
Apart from these, 41 Km Kochi-Koottanad-Bengaluru/Mangalore
Phase-I Pipeline Project has been mechanically completed. However
the commissioning of the same line would be done synchronizing with
the PLL Kochi LNG Terminal and also the readiness of end
consumers.
v
LNG Regasification Terminals and Shipping
Your Company has successfully commissioned LNG terminal at
Dhabol as owners engineers and also tied up additional re
gasification capacity at this terminal with RGPPL. Your Company
has underwritten the terminal capacity and will be the commercial
operator of Dabhol terminal for 25 years. Dabhol Terminal will act
as a gateway to meet the gas demand of consumers in Maharashtra,
Goa and Karnataka.
Your Company also entered into an understanding with Petronet
LNG Limited for reserving exclusive 2.5 MMTPA in the planned
Dahej expansion LNG terminal in Gujarat to meet ever increasing
demand along its existing pipeline networks.
Your Company is formulating a 'Shipping Strategy' for shipping
LNG from Sabine Pass and Dominion Cove Point LNG terminals in
the US.
v Energy
Renewable
Your Company had installed till date wind energy projects of 117.95
MW capacity. GAIL had started with a modest capacity of 4.5 MW
wind energy in State of Gujarat in year 2009-10 for captive use.
After the success of wind project, additional Wind Energy
Generation of 14.7 MW was installed in the State of Gujarat for
captive use in year 2011-12. Your Company graduated to
commercial production after commissioning 98.75 MW of wind
energy projects in the states of Tamil Nadu and Karnataka in year
2011-12.
In 2011-12, your Company entered into solar power generation by
winning the bid to set up a 5 MW solar plant under Jawaharlal Nehru
National Solar Mission. The Project was commissioned in February
2013 and is generating 30,000-35,000 KWh per day.
Domestic initiatives
The domestic business initiatives of your Company are as follows:
24
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
GGULL
Shri B.C. Tripathi, CMD, GAIL receiving Certificate of Maharatna Status from Shri Pranab Mukherjee Hon'ble President of India
25
26
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
27
v
Mahanagar Gas Limited (MGL)
MGL was incorporated to
implement CGD projects
in Mumbai and adjoining
areas. As on 31st March,
2013, MGL was operating
160 CNG stations
including 18 mother stations, 129
online stations and 13 daughter stations.
During 2012-13, MGL supplied PNG to
around 6 Lac domestic, 40 industrial and
1900 commercial customers in its
authorized geographical regions. MGL is
also catering to fuel requirement of
around 3 Lac CNG vehicles operating in the
region. Accepting the Central Government
authorization, PNGRB has granted
authorization and exclusivity for the
existing areas of Mumbai, Thane, Navi
Mumbai and Mira-Bhayander and
expansion areas of Kalyan, Dombivali,
Ambernath, Badlapur, Ulhasnagar,
Bhiwandi, Taloja, Kharghar and Panvel.
Your Company has 49.75% stake in the
joint venture, along with British Gas as
equal partner.
Total revenues of the Company for 2012-13
was ` 1514 Crores and Profit After Tax was
` 299 Crore.
v
Maharashtra Natural Gas Limited
(MNGL)
MNGL was formed for
implementation of CGD
projects in and around Pune.
MNGL has received
authorization from MoPNG
for CGD in Pune, including Pimpri,
Chinchwad, Talegaon,Hinjewadi and
Chakan areas. As on 31st March, 2013, MNGL
was operating 17 CNG stations including 3
mother stations, 3 online stations and 11
daughter stations.
During 2012-13, MNGL supplied PNG to
around 6000 domestic, 50 industrial and
20 commercial customers in its authorized
geographical regions. MNGL is also
catering to fuel requirement of around
45,000 CNG vehicles operating in the
region. Your Company has 22.5% stake in
the joint venture, along with BPCL as equal
partner.
Total revenue of the Company for 2012-13
was ` 182 Crore and Profit After Tax was
` 35 Crore.
IT DEVELOPMENTS
Your Company is an IT-savvy organization and is
continuously adopting the latest and state-ofthe-art IT solutions, keeping pace with the fast
changing industry. This helps in continuous
efficiency and productivity improvement of
employees and also enables right information to
the right person by the use of latest IT security
solutions.
Your Company has migrated business-critical
applications to a centralized private cloud
platform, along with Disaster Recovery (DR) IT
infrastructure, in line with the industry's latest
technological advancements. System's
manageability and availability have been
enhanced substantially with this future-ready
and DR-enabled cloud infrastructure.
Your Company has completed implementing an
electronic Document Management System
(DMS), in line with the industry best practices.
This enabled your Company to digitize
important documents and records across
locations and also provided electronic workflow
and secure authorization-based access to
information.
Your Company is in the forefront of leveraging IT
to bring in systemic improvements. This effort
of your Company has been duly recognized at
various forums. Your Company has been
recently awarded with SAP ACE Award for Best
Run Award for innovative use of SAP. During the
year, your Company has also been certified
as Customer Centre for Expertise (CCOE)
by SAP.
Your Company has implemented Joint Venture
Accounting (JVA) system for Exploration &
Production (E&P) business on SAP platform.
This has facilitated in capturing end-to-end JVA
business processes and also enables partner
accounting from a single system. With the
implementation of JVA, your Company has
enhanced efficiency, transparency and
regulatory compliance in E&P activities.
Yo u r C o m p a n y h a s a l s o i n i t i a t e d
implementation of centralized enterprise-wide
Geographic Information Systems (GIS)-based
Pipeline Integrity Management System for its
cross-country pipeline network, using industry
standard assessment models to fulfil the
national/international statutory codes. This will
ensure seamless and consistent data flow from
engineering to operations and will also result in
continuous updation of O&M data and aging of
the pipelines.
HEALTH, SAFETY AND ENVIRONMENT
MANAGEMENT
Your Company is a responsible corporate citizen
and Health, Safety and Environment (HSE)
28
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
Following the Project-based Approach as putforth by the DPE and as detailed in your
Company's CSR policy, your Company has
implemented CSR programmes primarily in and
around the rural areas adjoining major work
centres/installations of your Company. These
programmes are taken up under the seven
29
Training
Your Company has been witnessing rapid
growth vertically & horizontally. Your
company is expanding its operations in
domestic market as well as its presence
abroad. Your Company is also implementing
various new projects to strengthen its
presence across the entire gas value chain.
With new technological developments and
phenomenal expansion taking place in the
hydrocarbon sector, need of the industry is
changing from merely acquiring the latest
state of the art technologies and equipment
TO WA R D S R E S P O N S I B L E B U S I N E S S
CONDUCT
Your Company believes that CSR plays a major
role in developing a country. Therefore, it has
made Corporate Social Responsibility (CSR) as
an integral part of its ethos and culture. Your
Company has a dedicated team operating
within the framework of a well-structured
CSR policy, which mandates 2% contribution of
the Company's Profit after Tax to CSR
activities.
(In Lacs.)
228.38
250
195.62
207.57
175.11
200
161.37
150
100
50
0
2008 -09
2009 -10
2010 -11
2011 -12
2012 -13
Development Centre (SMDC) exercise has been undertaken as part of the Leadership Development
Program. SMDC has been conducted for senior executives in Chief Manager and above grades and
as of now 525 senior executives have been covered under this exercise.
In order to fill in the developmental gaps of such executives identified through SMDC exercise, a
comprehensive Individual Development Plan (IDP) has been drawn up for all the participants of
SMDC exercise. The IDP consists of customized training programmes at premier business schools,
e-learning courses and distribution of books.
The Vigilance Department of your Company is now certified under ISO-9001:2008 in recognition of
its contribution and continuous focus on improving the Company's systems and procedures. Your
Company has introduced a range of measures to bring clarity and transparency in procurement and
work contracts which includes webhosting of tenders on GAIL as well as across Government
websites, e-tendering and reverse auction for specified threshold values.
v programs on Awareness of
4 training
succession planning have been
organized.
v man hours of training have
Total 2000
been imparted on Sustainable
development to create awareness on
sustainable development.
v objective of Knowledge
With the
Management within the organization,
Technical Knowledge Sharing Seminar
and sessions are organized every year
Details with regard to Group-wise total number of employees and the representation of Scheduled
Castes, Scheduled Tribes, and Other Backward Classes amongst them in your Company as on
31st March, 2013 have been given in table below:
GROUP
EMPLOYEES ON
ROLL
SC
2,853
437
171
568
125
74
86
477
82
15
144
56
17
14
TOTAL
3,954
661
265
729
ST
OBC
485
A total of 99 new employees joined your Company during the 2012-13. Total Manpower of the
Company as on 31st March, 2013 stood at 3961 (including Whole-time Directors & CVO) with 16.68%
of its employees belonging to SC category, 6.7% to ST category, 18.40% to OBC category, 7.24% to
Minorities and 2.09% to PWDs category. Your Company's workforce comprised of 234 women
employees as on 31st March, 2013 .
v companywide business
Various
quizzes were organized to keep the
employees updated with the latest
developments in the business areas of
your company.
Vigilance
Official Language
Your Company is continuously making vigorous efforts for the propagation and successful
implementation of the Official Language Policy of the Union. The Official Language Implementation
Committees at corporate as well as work centre level, held their quarterly meetings regularly to
30
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
31
Gas transportation & Storage, Fuel Cell & Nanocomposites, CO2 and unconventional energy
utilization and so on). It is expected that the
successful outcome of these projects would
provide good value to your Company in due course.
Women Empowerment
To encourage and recognize the role of
women employees in your Company's
success story, GAIL Women Employees
Award Scheme has been instituted in your
Company since 2009. Since then, awards
to Women employees based on their
performance in their functional area are
conferred every year on International
Women's Day.
Corporate Awards
SCOPE
v Excellence Award(Institutional
Category) for 2010-11
Ranked st
v 1 among Gas utilities in Asia in
the Platts Global Ranking of Energy
Companies in 2012
Petrofed
v Award 2012 (for performance
during 2011-12) for:
t Gas Pipeline Transportation
Oil and
Company of the Year
t Management (` 500 to
Project
`2000 Crore)- Company of the
Year
t
Environment SustainabilityCompany of the Year
HSE Awards
I n ternational Safety Award for
v
outstanding achievement in safety
from British Safety Council, the United
kingdom, for Gas Processing Unit and
natural gas compressor station,
Vaghodia; Gas Processing Unit,
Gandhar; regional natural gas pipeline
network, National Capital Region, Delhi.
Sarvashrestha Suraksha Puraskar for
v
Gas Processing Unit and for natural gas
compressor station, Vijaipur from
National Safety Council, MP chapter
and National Safety Council, Mumbai,
respectively, for 2010.
GAIL Vaghodia bagged Gujarat State
v
Safety Award from Gujarat Safety
Council Vadodara
Golden
vPeacock Occupational Health &
Safety Award - 2012 for GAIL, Khera,
from Institute of Directors, New Delhi
Golde
vn P e a c o c k E n v i r o n m e n t
M a n a g e m e n t Awa r d - 2 0 1 2 f r o m
Institute of Directors, New Delhi for
GAIL, Vaghodia
S a fe t y
v I n n ova t i o n Awa r d f r o m
Institution of Engineers, New Delhi for
Khera Compressor station and Regional
Natural Gas Pipeline Network, National
Capital Region, Delhi
RIGHT TO INFORMATION
In order to promote transparency and
accountability, an appropriate mechanism has
been set up across your Company in line with the
Right to Information Act, 2005. Your Company
has nominated ACPIOs/ CPIO/ Appellate
Authorities at its units/offices across the
country to provide information to citizens under
the provisions of RTI Act.
SUBSIDIARY COMPANIES AND
CONSOLIDATED FINANCIAL STATEMENTS
As per Section 212 of the Companies Act, 1956,
documents in respect of subsidiary companies
viz. Directors' Report, Auditor's Report, Balance
Shri B.C. Tripathi, CMD, GAIL and Mr. Salvador Gabarr Serra, Chairman, Gas Natural Fenosa,
Spain signing LNG Supply agreement in Barcelona
32
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
CODE OF CONDUCT
FIXED DEPOSITS
Your Company has not accepted any fixed
deposits and, as such, no amount of principal or
interest was outstanding as of the balance
sheet date.
FOREIGN EXCHANGE EARNINGS AND OUTGO
During the year, foreign exchange earnings were
` 32.02 Crores. Expenditure in foreign currency
was ` 1,708.92 Crores
During the year under review, your Company has
incurred an expenditure of ` 8.55 Crores on
foreign tours and training, ` 0.37 Crores on
entertainment and ` 33.76 Crores on
advertising and publicity.
DIRECTORS
Shri P.K. Singh was appointed as Parttime (Government Nominee) Director,
Shri M. Ravindran was appointed as Director
(HR) and Shri Rajive Kumar was appointed as
Part-time (Government Nominee) Director
w.e.f. 10th April, 2013, 1st June, 2013 and 26th June,
2013 respectively.
Shri S.L. Raina, Director (HR), Shri Sudhir
Bhargava, Part-time (Govt. Nominee) Director,
Dr. Neeraj Mittal, Part-time (Govt. Nominee)
Director and Shri R.P. Singh, Part-time nono f f i c i a l ( I n d e p e n d e n t ) D i r e c t o r we r e
Director(s) upto 31st May, 2013, 8th May, 2013,
10th April, 2013, and 9th August, 2012 respectively.
Shri Mahesh Shah, Shri R.M. Sethi and
33
Cost Auditors
Your Company has appointed M/s Rohit &
Associates, Vadodara; M/s R Nanabhoy &
Co., Mumbai; M/s Chandra Wadhwa & Co.,
New Delhi; M/s M Goyal & Co., Jaipur; M/s
Dhananjay V. Joshi & Associates, Pune; M/s
DGM & Associates, Guwahati; M/s Mani &
Co., Kolkata and M/s K. L. Jaisingh & Co.,
Noida as cost auditors for 2012-13 for the
purpose of cost audit on 30th May, 2012.
The due date for filing cost audit reports for
the financial year ended 31st March, 2012 was
31st January, 2013 and the same were filed to
Registrar of Companies on 20th December,
2012.
ACKNOWLEDGMENT
Your Directors express their gratitude for
constant support and cooperation showed by
the Government of India, especially the Ministry
of Petroleum and Natural Gas, various state
governments, and regulatory and statutory
authorities.
Your Directors acknowledge wise counsel
received from Statutory Auditors and CAG and
are grateful for their consistent support and
assistance.
Your Directors also wish to thank all the
stakeholders for reposing their faith, trust and
confidence in your Company.
AUDITORS
Statutory Auditors
The statutory auditor of your Company is
appointed by Comptroller & Auditor General
of India (CAG). M/s Rasool Singhal & Co.,
Chartered Accountants, Aligarh and M/s
M.L. Puri, Chartered Accountants, New
Delhi, were appointed as Joint Statutory
Auditors of your Company for 2012-13.
The review of your Company's Annual
Accounts for the financial year ending
B.C. Tripathi
Chairman & Managing Director
Management
Discussion
& Analysis
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
ANNEXURE - A
35
Coal
10
Oil
Natural Gas
Hydro
53
Renewables
29
Nuclear
Outlook
The total energy consumption in India is estimated to grow by 3% per
annum till 2050. Of this, gas consumption in India is expected to grow
the fastest at 4.5% per annum till 2050. (Source: McKinsey Global
Energy Perspective 2050).
CAGR
(2010-2050)
1600
Energy Consumption In
MTOE
ECONOMIC OVERVIEW
Global economic growth largely remained subdued across major
countries during 2012-13. The US showed signs of slow recovery, on
account of improvements in housing sector and employment.
Recessionary conditions in the Euro Zone continued due to deteriorating
industrial production, weak exports and low domestic demand. Emerging
economies grew marginally from moderation in 2012, as domestic
demand rose and investments picked-up. Among the BRICS countries,
Brazil and South Africa experienced acceleration in growth. Whereas,
other member countries like Russia, China and India grew at a slower rate
year on year.
+4.5%
1400
1200
+4.3%
1000
800
600
+2.8%
400
+3.2%
200
+1.9%
0
2010
2030
Gas
Power
Coal
2050
Petroleum
Others
The demand for natural gas is expected to reach more than 450
MMSCMD by end of 12th five year plan ending 2017 and over 600 by the
end of 13th Five year plan ending 2022. In such a scenario, India will have
to augment its domestic production as well as create sufficient
infrastructure for LNG imports during this period.
(MMSCMD)
Year
2012-13
2013-14
2014-15
2015-16
2016-17
Demand
293
371
405
446
473
Supply
134.28
184.59
198.72
249.11
305.41
Gap
158.72
186.41
206.28
196.89
167.59
36
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
Augmentation of Auraiya-Jagdishpur
Pipeline Project and connectivity to KFCL
(Kanpur Fertilizers Company Limited) in
Uttar Pradesh. Your Company is also
upgrading its pipeline network in KG Basin. All
these pipelines are under various stages of
completion.
Sourcing & Trading of Gas
The report of the Working Group on
Petroleum and Natural Gas Sector for the
12th Five-Year Plan (2012-17) has envisaged
that about 264 MMSCMD of natural gas
needs to be imported in 2016-17and 363
MMSCMD by 2021-22to meet the overall
demand of natural gas in India. In May 2012,
the domestic supply figures during the 12th
Plan were further downgraded by about 9
BCM in 2012-13 and 20 BCM in 2016-17and
accordingly the supply-demand gap
increased to about 318 MMSCMD by 2016-17.
Your Company, as the industry leader in
natural gas, had taken a slew of constructive
measures to meet the increasing demand
requirements of India. After executing 3.5
MMTPA long-term LNG supply contract with
Sabine Pass Liquefaction LLC on FOB basis
and the Gas Sales Purchase Agreement with
TurkmenGaz for import of 38 MMSCMD of
natural gas through TAPI pipeline, your
Company also executed a long-term LNG
supply contract for 2.5 MMTPAon DES basis
from Russia with Gazprom Marketing and
Trading Singapore Limited. These deals were
a testimony to your Company's commitment
towards developing the Indian Gas market
and helping India to achieve energy security
Shri S. Venkatraman, Director (BD), GAIL receiving Golden peacock award for GPU
Gandhar-2013 from Dr. M. Veerappa Moily, Hon'ble Minister of Petroleum & Natural Gas
37
FINANCIAL PERFORMANCE
SEGMENT-WISE PERFORMANCE
(`in Crore)
Particulars
2012-13
2011-12
5,033.41
4,487.74
(5,472.15)
(7,141.56)
1,865.35
1,453.80
(`in Crore)
Particulars
Transmission Services
a) Natural Gas
b) LPG Transmission
Gas Trading
Petrochemicals
LPG & Other Liquid
Hydrocarbons
Unallocated
Total
2012-13 2011-12
3,066
294
35,596
3,744
3,564
454
29,671
3,378
4,434 3,090
199
124
47,333 40,281
Physical performance
Particulars
Natural Gas Throughput
(MMSCMD)
Natural Gas Trading
(MMSCMD)
Liquid Hydrocarbon Sales
(TMT)
Polymers Sales
(TMT)
LPG Transported (TMT)
2012-13
2011-12
104.90
117.62
81.44
84.17
1371
1441
427
3136
448
3362
38
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
39
Shri B.C. Tripathi, CMD GAIL and Shri R.D. Goyal Director (Projects), GAIL receiving Oil Industry Safety Award
from Dr. M. Veerappa Moily, Hon'ble Minister of Petroleum & Natural Gas & Smt. Panabaaka Lakshmi,
Hon'ble Minister of State for Petroleum & Natural Gas
v
Your Company is a leading player in the
country in promoting usage of energy
efficient equipment duly certified with
Bureau of Energy Efficiency (BEE) ratings.
v
Your Company regularly conducts energy
40
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
Water Conservation
Water is a precious resource and your
Company has taken significant steps
towards its conservation. As part of the
Integrated Management Systems, water
auditing at its installations is a regular
feature. Close monitoring of water
consumption and waste water discharges is
done for all the units across your Company.
Your Company has undertaken specific water
conservation projects at two of its
installations. "BehetiDhara" Project at
Vijaipur is a conversion of open canal to piped
supply resulting in water savings of 20 million
cubic meter of water per annum. "Jaldhara"
Pr o j e c t a t V i j a i p u r i s a wa t e r s h e d
management project spread over 500
Hectares of area involving water audit,
contour survey, rain water harvesting
measures etc. At Pata Petrochemical
Complex, the treated sewage is being further
treated to use the sewage for sports complex
and horticulture purpose.
Your Company is always looking for avenues
for reducing its water footprint by deploying
water conservation measures and using
technological improvements to tap and
utilize rain water. Continuous efforts are
made to maximize recycle of treated
wastewaters. Your Company is now recycling
more than 50% of treated wastewater on
average during all seasons. The comprehensive
wastewater management facilities comprise
oil removal facilities, chemical treatment and
biological treatment facilities with extended
aeration process. Your Company makes
continuous efforts to maximize recycling of
treated wastewater. By treatment of
wa s t ewa t e r, yo u r C o m p a n y e n s u r e s
conservation of this precious resource and in
turn improves sustainability.
Rainwater Harvesting
"Rainwater Harvesting" was also undertaken
at most of the work centers, to recharge the
groundwater strata effectively. Rain water is
stored and utilized for captive consumption.
Air Monitoring
Usage of natural gas virtually rules out
Suspended Particulate Matters (SPM) and
Oxides of Sulphur (SOX) in air emissions. Your
Company implemented flaring system at
various important sites to prevent discharge
of hydrocarbons directly into the atmosphere.
All the boiler and furnace stacks are also
equipped with on-line analysers
for monitoring stack flue gas quality on
continuous basis. Your Company continuously
monitors ambient air quality by State of the
Art Ambient Air Quality Monitoring Stations
at various process plants. The levels of
pollutants are maintained below the
stipulated norms. Flare stacks are designed
for smokeless burning and adequate stack
height has been provided as per statutory
requirements for effective dispersion of the
pollutants.
Solid Waste Management
In your Company's process plants, hazardous
solid waste is stored and disposed off as per
the best available environment practices. The
solid wastes are collected, stored and
handled, in a manner which has no detrimental
effect on the ground water and the
environment.
41
Shri B.C. Tripathi, CMD GAIL and Shri Prabhat Singh Director( Marketing) receiving Company of the Year Petrofed
Award 2012 under Environmental Sustainability Category from Dr. M. Veerappa Moily, Hon'ble Minister of
Petroleum & Natural Gas
Dr. M. Veerappa Moily, Hon'ble Minister of Petroleum & Natural Gas launching Gas-in for Bengaluru city
Yo u r C o m p a n y h a s b e e n i m p a r t i n g
specialised coaching for IIT/JEE entrance
examination (for admission to IITs, NITs, ISRO
etc.) for underprivileged children at Kanpur,
UP for the students of adjoining districts
under the GAIL Utkarsh programme under
mentorship of Sh. Abhayanand, IPS. For the
year 2012-13, 100 students were identified for
this programme through a meticulous
selection process. Out of these 100, 23
students have secured admission in various
IITs and 7 have qualified IIST (ISRO).
GAIL- IL&FS Skill Schools with integrated
'Backward and Forward' linkages, in the
regions of Dediapada (District Narmada,
Gujarat), Guna (Madhya Pradesh) and Tandur
(District Ranga Reddy, Andhra Pradesh),
provide Employment linked Skill Training to
disadvantaged youth. Over 2800 youth have
been successfully trained in the year 2012-13
in the sectors of retail, sales, hospitality and
BPO Service.
In the area of Health Care/Medical, your
Company has collaborated with Wockhardt
foundation for providing Medical outreach
service at 4 major workcentres of your
Company viz. Pata in Auraiya (Uttar Pradesh)
and Vijaipur, Jhabua & Khera in Madhya
Pradesh. The project has extended
healthcare support to over 2 Lac people
across 240 villages of the two states.
Project Anhad Gram in Jhabua (MP) focuses
on creation and promotion of livelihood
opportunities through self-employment to
25 tribal villages of the district. The major
activities include Organic Farming for
42
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
43
ANNEXURE - B
Composition
Your Company, being a Government Company, appointment/ nomination of all the Directors is
being done by the President of India, through the Ministry of Petroleum & Natural Gas (MoPNG).
The Articles of Association of the Company stipulates that the number of Directors shall not be
less than three and not more than twenty.
As on 31st March, 2013, there were 11 (Eleven) Directors on the Board comprising of 6 (Six) WholeTime Directors including the Chairman & Managing Director, 2 (Two) Part-time Directors
(Government Nominee) and 3 (Three) Part-time non-official (Independent) Directors. The details
w.r.t. attendance, number of other Directorships and Chairmanship/ Memberships of Committees
of each Director are as under:
Name and Designation No. of Board Attendance at Directorships Committee Chairperson
of
of the Director
held in other Membership
last Annual
Meetings
Committees
Public Limited
General
attended
in other
of other
Companies Companies
Meeting
during the
Companies
Tenure
I. Whole-time Directors
Sh. B. C. Tripathi
Chairman and
Managing Director
Sh. R. D. Goyal
Director (Projects)
Sh. S.L. Raina
Director (HR)
Sh. Prabhat Singh
Director (Marketing)
Sh. S. Venkatraman
Director (Business
Development)
Sh. P.K. Jain
Director (Finance)
11
Yes
04
01
Nil
11
Yes
Nil
Nil
Nil
11
Yes
03
02
Nil
11
Yes
01
Nil
Nil
11
Yes
03
01
Nil
11
Yes
02
01
01
02
01
Nil
Nil
Nil
Nil
09
09
No
No
11
07
08
Yes
No
No
03
08
04
01
03
Nil
02
02
Nil
02
No
02
01
Nil
02
No
Nil
Nil
Nil
02
No
05
02
Nil
01
N.A.
Nil
Nil
Nil
N.A.
N.A.
Nil
Nil
Nil
44
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
Notes:
1. During the year 2012-13, 11(Eleven) Board
Meetings were held.
2. 28th Annual General Meeting was held on
05.09.2012.
3. Based on disclosures received from
concerned Director(s):
i.
No. of Meetings
Composition
Members
st
Held during
Attended
the tenure
1.
05
05
2.
Sh. R. M. Sethi
05
05
3.
11
11
4. Smt. Shyamala
Gopinath
06
03
5.
06
06
04
03
Board of Directors
AUDIT COMMITTEE
Terms of Reference
The terms of reference of Audit Committee
is in accordance with Companies Act,
existing Listing Agreement and Guidelines
on Corporate Governance for Central Public
Sector Enterprises, 2010 formulated by
Department of Public Enterprise (DPE
guidelines on Corporate Governance) which,
inter-alia, include oversight of financial
reporting process, recommending the
appointment of and fixation of fees for
auditors, approval of payment to auditors
for payment of any other services rendered,
reviewing annual and quarterly financial
statements, reviewing performance of
statutory / internal auditors and adequacy
of internal control system, reviewing
adequacy of internal audit function,
discussion with internal auditors, reviewing
findings of internal investigations,
discussion with statutory auditors and
reviewing whistle blower mechanism etc.
45
Audit Committee
Director (BD)
46
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
(`. in Lakhs)
S.
No.
1.
2
3
4
5
Name of the
Director
Sh. B. C. Tripathi
Chairman and Managing
Director
Sh. R. D. Goyal
Director (Projects)
Sh. S.L. Raina
Director (HR)
Sh. Prabhat Singh
Director (Marketing)
Sh. S. Venkatraman
Director
(Business Development)
Sh. P.K. Jain
Director (Finance)
Total
DISCLOSURES
27.85
4.71
6.65
14.81
54.02
35.72
4.51
6.95
10.63
57.81
26.82
4.31
5.54
10.15
46.82
22.98
4.24
5.29
9.99
42.50
27.36
4.27
6.41
10.07
48.11
26.30
4.35
5.72
10.24
46.61
Amount
1
2
3
4
5
6
7
1.75
1.45
1.00
7.45
2.45
0.20
3.85
Year
2010-11
AGM
2009-10
2011-12
26th
27th
28th
Date &
Time
22.09.2010
10:30 am
07.09.2011
10:30 am
05.09.2012
10:30 am
Venue
Appointment of
Ms Esha Goel, daughter
of Shri R.K. Goel, Director
(Finance) to hold an office
or place of profit in
the Company
None
None
N.A.
N.A.
Special
Resolution
passed
Details
47
j.
22.02.2013
03.10.2013
07.09.2013
to
25.09.2013
Dividend
Payment Date
Record
Date / Book
Closure
20.02.2013
With this, your Company has proposed a total dividend of 96% (` 9.6/per equity share each) on the paid-up equity share capital, for the year
ended 31st March, 2013.
MEANS OF COMMUNICATION
Interim
40%
Dividend
(` 4/- per share)
Final
56%
Dividend (` 5.60/- per share)
(Proposed)
2.
Dividend (%)
FY
Type of
Dividend
2006-07
INTERIM
SPL INTERIM
FINAL
19.12.2013
05.03.2014
02.09.2014
19.01.2014
05.04.2014
02.10.2014
48
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
Other Details
For change of address/bank details/
dividend mandate/ email Id, if any, Members
may approachi) if shares are held in physical mode, to the
R&TA/Company.
ii) if shares are held in electronic mode, to
their Depository Participant (DP). The
R&TA/Company will not entertain such
requests, if any.
Bank Account details and 9-digit MICR Code
of their Bankers, as noted in the records of
their DP are used for the purpose of
overprinting on Dividend Warrants or
remittance of dividend through National
Electronic Clearing Service (NECS),
wherever applicable. A detailed reference
note on dividend related activities is also
available at Company's website under
'Investor Zone'.
GENERAL SHAREHOLDER INFORMATION
Forthcoming AGM : Date, Time and Venue
29 t h Annual General Meeting of the
Company is scheduled for Wednesday, the
25th day of September, 2013 at 10.30 a.m. at
Manekshaw Centre, Parade Road, Delhi
Cantonment, New Delhi- 110010.
INE129A07024 and fourth series of Bond Series - II (5.85%) having ISIN code INE129A07099 were
redeemed on 22nd August, 2012 and 25th March, 2013 respectively.
The Annual listing fees for the listed equity shares and Bonds of your Company, pertaining to the
year 2013-14 has been paid to the concerned Stock Exchanges. Your Company has also made the
payment of the Annual Custody Fees to National Securities Depository Limited (NSDL) and
Central Depository Services (India) Limited (CDSL), for 2013-14, based on the average folio/ISIN
positions during 2012-13.
Market Price Data
Market Price Data for FY 2012-13
Months
High Low
(in `) (in `)
April
May
June
July
August
September
October
November
December
January
February
March
385
340
360
367
380
393
396
367
359
395
348
350
323
303
314
337
350
345
348
336
343
336
325
300
Market
Capitalization
(` In Crores)
NSE
BSE
Volume
(No. of
Shares)
1,697,865
1,271,908
1,891,922
1,376,657
1,189,717
1,231,641
1,732,022
758,032
1,114,256
2,362,320
1,334,056
1,301,363
High Low
(in `) (in `)
385
341
360
367
381
393
397
368
358
396
348
351
Volume
(No. of
Shares)
NSE
26,362,539
25,598,812
28,762,600
16,035,077
19,635,998
19,898,024
20,930,118
17,509,078
14,037,684
34,028,416
23,254,690
21,417,596
322
302
314
337
349
346
321
336
343
335
325
300
BSE
41,910
40,902
44,606
44,891
44,600
48,589
44,244
44,695
45,170
43,439
42,190
40,483
41,917
40,718
44,650
44,904
45,031
48,583
44,270
44,777
45,285
43,382
42,240
38,562
Market
Index
SENSEX NIFTY
17,664
17,432
17,448
17,631
17,972
18,869
19,137
19,372
19,612
20,203
19,966
19,754
5,379
5,280
5,286
5,349
5,449
5,735
5,815
5,885
5,965
6,112
6,053
5,971
Financial Year
49
SENSEX
March
February
January
December
November
October
September
August
Sensex
300
4,500
NIFTY
NIFTY
5,000
March
350
February
5,500
January
400
December
6,000
November
450
October
6,500
September
500
August
July
GDRs
GAID LI
GAILY US
July
15,000
300
June
Equity
Shares
June
17,000
350
May
Equity
Shares
19,000
400
May
532155
21,000
450
April
Security Type of
Code
Security
500
April
Stock Exchange
No. of
Shareholders
% to Total
No. of Shares
3.30
11.14
38.29
18.94
13.81
11.93
2.10
0.15
0.05
0.29
100.00
6,410
1,48,676
23,59,580
30,00,023
41,13,460
80,19,446
65,66,409
21,26,517
12,62,835
1,24,08,74,044
1,26,84,77,400
0.00
0.01
0.19
0.24
0.32
0.63
0.52
0.17
0.10
97.82
100.00
% to Total
6,410
21,661
74,437
36,814
26,582
23,190
4,074
293
101
549
1,94,381
1
2-10
11-50
51-100
101-200
201-750
751-5000
5001-10000
10001-15000
15001 and above*
TOTAL
PHYSICAL
2252
CDSL
(39827)
PHYSICAL
NSDL
152302
NSDL
CDSL
* President of India holds 72,73,90,047 Equity shares of the Company in electronic mode, which
constitutes 57.34% of total paid up equity capital.
LIC
GDRs
2.41
ONGC
4.83
IOC
57.34
FIIs
$50.00
$40.00
$30.00
$20.00
March
15.95
$60.00
Jan-12
President of India
$70.00
Feb-12
10.94
$80.00
Dec-12
62.51
0.01
0.01
0.02
0.15
35.85
0.01
0.05
0.08
0.24
0.01
0.37
0.00
0.00
0.01
0.68
100.00
Oct-12
79,28,67,749
1,44,241
1,57,187
2,42,909
18,41,598
45,47,63,498
1,07,348
5,96,496
9,95,529
30,56,821
97,411
46,61,173
34,937
60,794
71,350
87,78,359
1,26,84,77,400
Nov-12
10.58
0.52
0.69
1.35
5.36
22.43
0.54
2.49
4.76
3.74
0.31
4.73
0.22
0.24
0.38
41.66
100.00
Sep-12
20,568
1,011
1,341
2,632
10,416
43,597
1,057
4,847
9,262
7,263
599
9,187
427
474
745
80,955
194,381
Delhi*
Chandigarh
Kanpur
Jaipur
Ahmedabad
Mumbai
Nagpur
Hyderabad
Bangalore
Chennai
Trivandrum
Kolkatta
Bhubaneswar
Guwahati
Patna
Others
Grand Total
Outstanding GDRs/ADRs/Warrants or
Convertible Instruments
Jul-12
% to Total
Aug-12
No. of Shares
Jun-12
% to Total
Apr-12
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
No. of
Shareholders
May-12
S. No. City
1.04
7.49
Others
50
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
Dr. M. Veerappa Moily, Hon'ble Minister of Petroleum & Natural Gas and Shri B.C. Tripathi, CMD, GAIL at Carizzo Shale Gas site at Texas, USA
COMPLIANCE CERTIFICATE
The statutory auditors of your Company have examined and certified your Company's compliance with respect to conditions enumerated in clause 49 of
the Listing Agreement and DPE guidelines on Corporate Governance. The certificate forms part of this Report.
Secretarial Complaince Report confirming compliance by Practicing Company Secretary of the applicable provisions of Companies Act, 1956, Listing
Agreement, Guidelines on Corporate Governance for Central Public Sector Enterprises, 2010 issued by DPE and all other related rules and regulations
relating to capital market forms part of the Directors' Report.
51
ANNEXURE - C
Navin Bansal
Partner
Membership No.: 091922
Sandeep Gupta
Partner
Membership No.: 413890
52
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
ANNEXURE - D
53
Sachin Agarwal
Proprietor
CP No. 5910
ANNEXURE - E
(c)
(d)
B. TECHNOLOGY ABSORPTION
(e)
Ac t i v i t i e s r e l a t i n g t o ex p o r t s ;
initiatives taken to increase exports;
development of new export markets for
products and services; and export plans
There had been no exports during
2012-13. However, your Company is
planning to export polymers for 2013-14
for development of foreign markets like
Pakistan, Bangladesh, Myanmar, Nepal
etc. in anticipation of availability
of greater volumes from next year
onwards.
(g)
54
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
FORM A
FORM FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO CONSERVATION OF ENERGY
A. POWER & FUEL CONSUMPTION
2011-12
1. ELECTRICITY
32,32,31,115.22
18,339.70
15,638.48
5.80
4.84
Furnace Oil
Coal
8,61,259.55
7,49,766.00
2.65
Cost/Unit (`/KWH)
17.75
16.92
COAL
Electricity (KWh/MT)
Furnace Oil
Coal
0.252
0.258
0.95
1.030
2,30,616
2,23,347
327.07
338.87
Nil
19,61,98,159.00 20,53,38,676.00
Nil
Nil
0.7794
0.70
Production (MT)
2,10,386
2,22,637
246.678
239.97
Nil
Nil
0.0376
0.036
0.670
0.75
2,891.02
2,683.32
5.54
4.73
Electricity (KWh/MT)
NIL
Furnace Oil
NIL
Quantity (tonnes)
Coal
Total cost
Others -
Nil Nil
Fuel Gas (MT/MT)
- Steam (MT/MT)
Average rate
3. FURNACE OIL
Nil
2.
- Steam (MT/MT)
2.70
Cost/Unit
57.48
Nil Nil
Others -
4,57,080
54.79
Nil
Electricity (KWH/MT)
Units (KWH)
4,48,534
Nil
Production (MT)
31,60,93,396.56
b. Own Generation
Unit (KWH)
2011-12
ETHYLENE
a. Purchased
Unit (KWH)*
2012-13
NIL
NIL
55
26,74,296.00
34,04,830.00
306.24
409.63
11.45
12.03
Note:Actual figures have been noted for Total Polymer which includes
1. HDPE production-HDPE Pellet, low polymer wax and poly lumps for
HDPE-I & II
2. LLDPE production -LLDPE pellets + Polymer shreds
FORM B
FORM FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO ABSORPTION
1.
4. Expenditure on R&D
a. Capital
: ` 18.56 crore(**)
c. Total
: ` 50.70 crore
b. Recurring
: 0.11%
(**) This amount includes an expenditure of ` 5.65 Crore towards R&D in E&P
as per DPE Guidelines.
f.
1.
56
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
ii.
57
i . Ethylene Cracker
Technology, from Shaw
LLDPE/HDPE Swing
Technology, from Univation
Technologies, USA for GAIL
Petrochemical Complex II at
Pata for addition of 400 KTA
polyethylene capacity
b. Year of import
In process
N.A.
Five
Year
Profile
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
(` in Crores)
ST
AS AT 31 MARCH 2013
EQUITIES &
LIABILITIES
44684
NON CURRENT
LIABILITIES
11486
44684
CURRENT
LIABILITIES
8971
SHAREHOLDER'S
FUNDS
24227
EQUITY SHARE
CAPITAL
1268
LONG TERM
BORROWINGS
8141
ASSETS
DEFERRED TAX
LIABILITY (NET)
2300
SHORT TERM
BORROWINGS
224
RESERVE &
SURPLUS
22959
OTHER LONG
TERM LIABILITIES
685
TRADE
PAYABLES
3104
LONG TERM
PROVISIONS
360
OTHER CURRENT
LIABILITIES
4208
SHORT TERM
PROVISIONS
1435
NON CURRENT
ASSETS
35630
CURRENT
ASSETS
9054
FIXED
ASSETS
28685
OTHER NON
CURRENT ASSETS
673
CURRENT
INVESTMENTS
39
59
NON CURRENT
INVESTMENTS
3680
INVENTORIES
TRADE
RECEIVABLES
2551
1535
OTHER CURRENT
ASSETS
15
2009-10
2010-11
2011-12
2012-13
PAID-UP CAPITAL
1,268.48
1,268.48
1,268.48
1,268.48
1,268.48
13,501.15
15,530.52
17,984.86
20,357.35
22,959.32
SECURED LOANS
1,100.00
1,446.00
2,310.00
3,023.50
4,106.00
100.13
34.38
2,323.35
4,957.50
1,325.93
1,389.56
1,633.24
1,768.64
2,300.06
17,295.69
19,668.94
23,196.58
28,741.32
35,591.36
17,603.98
21,037.67
22,144.38
26,306.63
31,148.97
UNSECURED LOANS
DEFERRED TAX LIABILITY (NET)
REPRESENTED BY :
GROSS BLOCK
LESS : DEPRECIATION
NET FIXED ASSETS
CAPITAL WORK-IN-PROGRESS
INVESTMENTS / ADVANCES FOR INVESTMENT
8,553.66
9,106.57
9,740.81
10,449.01
11,441.52
9,050.32
11,931.10
12,403.57
15,857.62
19,707.45
2,426.33
2,330.49
5,879.17
8,241.76
9,118.99
1,737.27
2,073.03
2,582.52
3,548.93
3,955.15
(PENDING ALLOTMENT)
NET CURRENT ASSETS
4,081.77
3,334.32
2,331.32
1,093.01
2,809.77
17,295.69
19,668.94
23,196.58
28,741.32
35,591.36
GROSS SALES
24,414.67
25,375.80
32,907.09
40,821.79
48,005.27
GROSS MARGIN
4,850.92
5,210.37
5,973.10
6,247.18
7,233.73
559.90
561.90
650.25
790.71
980.94
87.00
70.00
82.86
116.46
195.02
4,204.02
4,578.47
5,239.99
5,340.01
6,057.77
2,803.70
3,139.84
3,561.13
3,653.84
4,022.20
887.93
951.36
951.36
1,103.57
1,217.74
DEPRECIATION
INTEREST
150.90
158.99
155.32
179.02
203.03
INTERNAL GENERATION
3,363.60
3,701.74
4,211.38
4,444.55
5,003.14
NET WORTH
14,575.12
16,607.48
19,054.12
21,449.44
24,038.17
17,295.69
19,668.94
23,196.58
28,741.32
35,591.36
2008-09
2009-10
2010-11
2011-12
2012-13
83.29
106.73
117.91
117.62
104.90
1087986
1099554
1068156
1124341
1077866
101493
102479
111140
144165
147988
PENTANE ( M / T )
58392
58551
34523
23144
20739
PROPANE ( M / T )
152671
179274
155152
146015
129570
ETHYLENE ( M / T)
431580
429992
428444
457080
448534
HDPE/LLDPE ( M/T)
420108
417147
416396
446041
441051
60
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
( C ) F I N A N C I A L RATIOS
2008-09
2009-10
2010-11
2011-12
2012-13
11.49
13.09
15.02
16.91
18.95
0.08
0.09
0.12
0.25
0.38
24.31
23.28
22.59
18.58
17.02
28.84
27.57
27.50
24.90
25.20
17.22
18.04
15.92
13.08
12.62
23.88
21.76
23.66
20.30
19.45
141.16
129.01
141.86
142.03
134.88
22.10
24.75
28.07
28.80
31.71
7.00
7.50
7.50
8.70
9.60
37.05
35.36
31.08
35.10
35.32
61
2009-10
2010-11
2011-12
2012-13
246
278
280
246
231
2,619
3,401
3,976
3,943
4,175
213
317
511
586
747
19
450
902
257
304
361
343
418
3,355
4,307
5,129
5,567
6,472
GROSS BLOCK
3,415
4,606
4,896
5,095
5,664
LESS : DEPRECIATION
1,659
1,994
2,154
2,024
2,081
1,756
2,612
2,742
3,071
3,584
CAPITAL WORK-IN-PROGRESS
471
510
1,300
1,596
1,658
337
454
571
687
719
792
730
515
212
511
TOTAL
3,355
4,307
5,129
5,567
6,472
GROSS SALES
4,736
5,556
7,276
7,907
8,730
GROSS MARGIN
941
1,141
1,321
1,210
1,315
DEPRECIATION
109
123
144
153
178
17
15
18
23
35
816
1,003
1,159
1,034
1,102
544
688
787
708
731
172
208
210
214
221
29
35
34
35
37
652
811
931
861
910
NET WORTH
2,827
3,636
4,213
4,154
4,371
3,355
4,307
5,129
5,567
6,472
51.55
45.67
45.23
51.63
54.99
PAID-UP CAPITAL
RESERVES & SURPLUS
SECURED LOANS
UNSECURED LOANS
DEFERRED TAX LIABILITY (NET)
TOTAL
REPRESENTED BY :
INTEREST
INTERNAL GENERATION
62
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
(`. in Crores)
2008-09
2009-10
2010-11
2011-12
2012-13
PAID-UP CAPITAL
1,268.48
1,268.48
1,268.48
1,268.48
1,268.48
14,132.39
16,541.47
19,945.39
23,646.05
27,526.18
SECURED LOANS
3,699.75
4,999.36
6,263.97
7,664.76
9,031.57
UNSECURED LOANS
124.46
413.81
640.13
3,840.87
7,440.75
MINORITY INTEREST
166.68
230.22
547.19
981.99
1,456.62
1,392.52
1,465.04
1,715.12
1,864.99
2,426.49
20,784.28
24,918.38
30,380.28
39,267.14
49,150.09
20,106.04
25,164.03
26,605.14
31,769.19
37,244.72
LESS : DEPRECIATION
8,987.41
9,833.61
10,642.94
11,611.93
12,941.32
11,118.63
15,330.42
15,962.20
20,157.26
24,303.40
CAPITAL WORK-IN-PROGRESS
4,187.89
4,881.84
10,636.79
15,578.49
19,894.30
1,025.65
1,065.13
1,236.25
1,284.06
1,359.22
4,452.11
3,640.99
2,545.04
2,247.33
3,593.17
20,784.28
24,918.38
30,380.28
39,267.14
49,150.09
25,357.74
27,487.02
35,665.34
44,736.73
51,737.86
GROSS MARGIN
5,232.82
6,032.36
7,064.79
7,776.94
8,329.06
DEPRECIATION
718.35
823.43
887.98
1,055.67
1,333.90
2.28
231.21
385.34
377.86
366.43
437.31
4,280.98
4,823.59
5,798.95
6,354.84
6,557.85
2,826.35
3,327.83
4,020.97
4,443.61
4,373.60
887.93
951.36
951.36
1,103.57
1,217.74
150.90
158.99
155.32
179.02
203.03
INTERNAL GENERATION
3,546.98
4,151.26
4,908.95
5,499.28
5,707.50
NET WORTH
15,109.61
17,300.27
20,130.17
23,237.35
26,006.58
20,784.28
24,918.38
30,380.28
39,267.14
49,150.09
REPRESENTED BY :
GROSS BLOCK
MISCELLANEOUS EXPENDITURE
GROSS SALES
PRELIMINARY/DEFERRED REVENUE
EXPENSES WRITTEN-OFF
INTEREST
63
2009-10
2010-11
2011-12
2012-13
246
278
280
246
231
2,741
3,622
4,410
4,580
5,006
SECURED LOANS
718
1,095
1,385
1,485
1,642
UNSECURED LOANS
24
91
142
744
1,353
MINORITY INTEREST
32
50
121
190
265
270
321
379
361
441
4,032
5,456
6,717
7,605
8,938
3,900
5,510
5,882
6,153
6,773
LESS : DEPRECIATION
1,743
2,153
2,353
2,249
2,353
2,157
3,357
3,529
3,904
4,420
CAPITAL WORK-IN-PROGRESS
812
1,069
2,352
3,017
3,618
199
233
273
249
247
864
797
563
435
653
4,032
5,456
6,717
7,605
8,938
4,919
6,019
7,885
8,665
9,409
GROSS MARGIN
1,015
1,321
1,562
1,506
1,515
DEPRECIATION
139
180
196
204
243
45
84
84
71
80
830
1,056
1,282
1,231
1,193
548
729
889
861
795
172
208
210
214
221
29
35
34
35
37
688
909
1,085
1,065
1,038
NET WORTH
2,931
3,788
4,451
4,501
4,729
4,032
5,456
6,717
7,605
8,938
51.55
45.67
45.23
51.63
54.99
PAID-UP CAPITAL
RESERVES & SURPLUS
MISCELLANEOUS EXPENDITURE
TOTAL
GROSS SALES
PRELIMINARY/DEFERRED REVENUE
EXPENSES WRITTEN-OFF
INTEREST
INTERNAL GENERATION
64
Annual
Accounts
b)
`
In the case of the Statement of Profit and Loss, 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.
1.
2.
b)
c)
d)
e)
f)
(Navin Bansal)
(Partner)
Membership No.:91922
(Sandeep Gupta)
(Partner)
Membership No.:413890
66
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
(a)
(b)
(b)
(c)
67
(d)
(e)
Statute
Entry Tax
Amount
(2012-13)
Period of Dispute
Status - Forum
159.17
1999-00 to 2009-10
0.82
2005-06
26.00
2008-09,
2009-10 & 2010-11
(a)
0.61
3.66
(c)
0.70
2005-06 to 2009 - 10
AP High Court
(d)
81.18
2006-2007
( e)
0.51
2003-2004
(f)
0.29
(g)
207.97
2008-09 to 2010-11
(h)
0.15
2003-2004
(i)
0.20
1998-1999
Mumbai Tribunal
(j)
Excise &
Service
Tax
(b)
(c)
Sales Tax
(b)
(a)
1.05
2003-04
( a)
16.88
CESTAT Mumbai
(b)
99.63
Mar. 2000 to
Feb 2002 & Aug.2005
to Jul 2009
(c)
66.45
(d)
11.97
2008-2009 &
2009-2010
(e)
0.19
CESTAT Ahmedabad
(f)
0.47
Sep.2007
CESTAT Ahmedabad
CESTAT Ahmedabad
CESTAT Kolkata
68
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
SI.
No.
Statute
(g)
(h)
Income
Tax
Other
taxes
(x)
(xi)
(xii) In our opinion, the company has granted loans and advances on the
basis of security by way of pledge of shares, debentures and other
securities. In our opinion, the company has maintained adequate
documents and records in respect of such loans.
(xiii) The company is not a chit fund, nidhi, mutual benefit fund or a society.
Accordingly, clause 4(xiii) of the order not applicable.
(xiv) According to the information and explanation given to us, the
company is not dealing or trading in shares, securities, debentures
and other investments. Accordingly, clause 4 (xiv) of the order is not
applicable.
(xv) The company has given guarantees for loans taken by its subsidiaries
from bank and financial institutions. The terms and other conditions,
in our opinion, are not prima facie prejudicial to the interest of the
company.
(xvi) On the basis of review of utilization of funds pertaining to term loans
on overall basis and related information as made to us, the term
loans taken by the company have been utilized for the purposes for
69
Amount
(2012-13)
Period of Dispute
Status - Forum
10.29
CESTAT Ahmedabad
0.22
688.41
68.58
3.63
CIT (Appeals)
760.62
(Navin Bansal)
(Partner)
Membership No.:91922
(Sandeep Gupta)
(Partner)
Membership No.:413890
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
2
3
1,268.48
22,959.32
24,227.80
1,268.48
20,357.35
21,625.83
4
45
5
6
8,140.78
2,300.06
685.07
359.58
11,485.49
4,889.35
1,768.64
276.63
337.77
7,272.39
7
8
9
10
223.74
3,103.76
4,208.12
1,435.28
8,970.90
44,684.19
2,509.93
3,654.79
1,088.24
7,252.96
36,151.18
18,987.55
719.90
8,977.82
28,685.27
3,680.05
2,591.49
673.19
35,630.00
15,561.28
296.34
7,942.45
23,800.07
2,671.90
3,174.51
272.11
29,918.59
38.95
1,535.33
2,551.34
2,357.94
2,555.86
14.77
9,054.19
44,684.19
9.59
1,419.74
1,904.48
931.33
1,966.23
1.22
6,232.59
36,151.18
TOTAL
II. ASSETS
(1) Non-current assets
a) Fixed Assets
(i) Tangible Assets
(ii) Intangible Assets
(iii) Capital Work in Progress
b)
c)
d)
11
11
12
Non-current Investments
Long-term loans and advances
Other non-current assets
13
14
15
16
17
18
19
20
21
TOTAL
P.K.Jain
Director(Finance)
R. D. Goyal
Director (Projects)
B. C. Tripathi
Chairman & Managing Director
Navin Bansal
(Partner)
Membership No. 91922
Sandeep Gupta
(Partner)
Membership No. 413890
70
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
Statement of Profit & Loss for the Year ended 31st March , 2013
( `. in Crores )
Note
NO.
I.
YEAR ENDED
31ST MARCH, 2013
22
48,195.29
YEAR ENDED
31ST MARCH, 2012
40,981.81
672.60
23
541.05
47,522.69
40,440.76
764.51
648.38
48,287.20
41,089.14
IV Expenses
Raw Material consumed
2,968.68
2,494.10
33,396.89
28,440.46
24
(56.98)
(497.75)
25
785.45
650.29
116.46
26
195.02
27
980.94
790.71
Other expenses
28
3,959.43
3,754.86
42,229.43
35,749.13
6,057.77
5,340.01
1,428.47
Total Expenses
V. Profit before Tax
VI. Tax Expenses
1.
Current Tax
-
Current Year
1,537.44
Earlier Years
(33.29)
122.30
531.42
135.40
2,035.57
1,686.17
4,022.20
3,653.84
31.71
28.80
31.71
28.80
2.
Deferred Tax
Basic
Diluted
29
30
P.K.Jain
Director(Finance)
71
R. D. Goyal
B. C. Tripathi
Director (Projects) Chairman & Managing Director
Navin Bansal
(Partner)
Membership No. 91922
Sandeep Gupta
(Partner)
Membership No. 413890
Notes to Financial Statements for the year ended 31st March, 2013
1.
1.03 Inventories
(i)
(ii)
(i)
(ii)
(i)
(ii)
(vi) M i n i m u m c h a r g e s r e l a t i n g t o
transportation of LPG are accounted for
on receipt basis.
(vii) Prepaid expenses and prior period
expenses/income upto ` 5,00,000/- in
each case are charged to relevant heads of
account of the current year.
1.06 Fixed Assets
(a)
(b)
II.
72
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
(b)
(ii)
73
1.12 Investments
Investments are classified into current
and non-current investments. Current
investments are stated at lower of cost or
market value. Non-current investments
are stated at cost and provision for
diminution in value is made only if such
decline is other than temporary in the
opinion of management.
(ii)
1.11 Grants
(c)
(ii)
(i)
(ii)
b.
ii)
c.
(ii)
(`. in Crores)
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
AUTHORISED
200,00,00,000 (Previous Year 200,00,00,000) Equity Shares
2,000.00
2,000.00
of r 10/- each
ISSUED, SUBSCRIBED AND PAID-UP
126,84,77,400 (Previous Year : 126,84,77,400)
Equity Shares of r 10/- each fully paid up.
1,268.48
1,268.48
1,268.48
TOTAL
1,268.48
% Holding
Numbers
% Holding
727,405,675
95,124,727
57.35%
727,405,675
57.35%
7.49%
91,927,049
7.25%
b) The Company has only one class of equity shares having a par value r10/- per share. The holders of the equity shares are entitled to receive
dividends as declared from time to time and are entitled to voting rights proportionate to their share holding at the shareholders meetings.
c) 1,32,98,622 shares are held in the form of Global Depository Receipts
d) During the year 2008-09, the company had issued 42,28,25,800 Bonus Equity shares of r 10/- each out of General Reserve.
74
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
( `. in Crores )
AS AT
31ST MARCH, 2012
Capital Reserve
(Grant Received from Danish Govt. for construction of Gas
Technology Institute at Noida)
As per Last financial statements
1.40
1.51
0.11
0.11
Closing Balance
1.29
1.40
0.27
0.27
17.87
17.87
Closing Balance
Bonds Redemption Reserve
As per Last financial statements
Add : Transferred from surplus in the statement of Profit & Loss
Less : Transfer to surplus in the statement of Profit & Loss
Closing Balance
173.64
197.71
54.57
30.93
(55.00)
(55.00)
173.21
173.64
CSR Reserve
As per Last financial statements
Add : Transferred from surplus in the statement of Profit & Loss
Less : Transfer to surplus in the statement of Profit & Loss
13.13
Closing Balance
13.13
2.00
1.35
3,051.79
2,668.92
17.87
402.00
365.00
3,453.79
3,051.79
17,128.90
15,098.58
Add : Profit for the year as per statement of Profit & Loss
4,022.20
3,653.84
Interim Dividend
507.39
380.54
710.35
203.03
(55.00)
54.57
13.13
402.00
723.03
179.02
(55.00)
30.93
365.00
2,186.73
2,030.32
19,315.63
17,128.90
22,959.32
20,357.35
Closing Balance
Surplus in the Statement of Profit and Loss
Less : Appropriations
TOTAL
a)
75
( `. in Crores )
Non-current Portion
AS AT
31st March 2013
Current Maturities
AS AT
31st March 2012
AS AT
31st March 2013
AS AT
31st March 2012
SECURED
(a) BONDS
200.00
300.00
100.00
100.00
120.00
120.00
120.00
500.00
500.00
750.00
Bonds Series - I
(6.10% Secured Non-convertible redeemable Bonds -Series - I are
redeemable in 5 equal installment commencing from the end of the 8th year
upto the end of the 12th year from the deemed date of allotment August 22,
2003.) (Bonds are secured on pari pasu basis, by charge on freehold non
agricultural land at village Tandalja, Vadodra together with the entire building
constructed thereon both present & future and whole of plant and machinery ,
spares, tools and accessories and other movables of the company pertaining
to its projects at LPG Vaghodia Plant, Hazira Plant, Grep Vaghodia Plant,
Gandhar Plant and Vadodara plant both present and future and whether
installed or not and lying or in store)
Bonds Series - II
(5.85% Secured Non-convertible redeemable Bonds -Series - II are
redeemable in 5 equal installment commencing from the end of the 6th year
upto the end of the 10th year from the deemed date of allotment March 25,
2004).(Bonds are secured on pari pasu basis, by charge on freehold non
agricultural land at village Tandalja, Vadodra together with the entire building
constructed thereon both present & future and whole of plant and machinery ,
spares, tools and accessories and other movables of the company pertaining
to its projects at LPG, LPG Vaghodia Plant, Hazira Plant, Grep Vaghodia Plant,
Gandhar Plant, DUPL projects and Vadodra plant both present and future and
whether installed or not and lying or in store)
Bonds 2010 Series - I
(8.80% Secured Non-convertible redeemable Bonds 2010 -Series - I are
redeemable in 4 equal installment commencing from the end of the 7th year
upto the end of the 10th year from the deemed date of allotment December 13,
2010 with a call option at the end of the 7th year).(Bonds are secured on pari
pasu basis, by charge on freehold non agricultural land at village Tandalja,
Vadodra together with the entire building constructed thereon both present &
future and whole of plant and machinery , spares, tools and accessories and
other movables of the company pertaining to its projects at Vijaipur Dadri
Pipeline Projects excluding compressor stations at Vijaipur both present and
future and whether installed or not and lying or in store )
Bond series 2012
(9.14% Secured Non-convertible redeemable Bonds 2012 -Series - I are
redeemable in 4 equal installment commencing from the end of the 5th year
upto the end of the 8th year from the deemed date of allotment June 11, 2012
with a call option at the end of the 5th year). (Bonds are secured on pari pasu
basis, by charge on freehold non agricultural land at village Tandalja, Vadodra
together with the entire building constructed thereon both present & future
and whole of plant and machinery , spares, tools and accessories and other
movables of the company pertaining to its projects at Vijaipur Dadri Pipeline
Projects excluding compressor stations at Vijaipur both present and future
and whether installed or not and lying or in store )
76
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
( `. in Crores )
Non-current Portion
AS AT
31st March 2013
AS AT
31st March 2012
Current Maturities
AS AT
31st March 2013
AS AT
31st March 2012
675.00
375.00
358.50
596.00
237.50
237.50
996.25
675.00
168.75
2,566.00
626.25
457.50
(Secured by way of first pari-passu charge on all the movable fixed assets,
including whole pipeline, spur lines, plant & machinery, spares, equipments,
tools & accessories and other movables both present and future, whether now
lying loose or in cases or which are now lying or stored in or whether in the
course of transit or on high seas, of the Dahej - Vijaypur Phase-II Pipeline
project of the Borrower) excluding the plant & Machinery of compresor
station at Jhabua and Vijaipur)
Repayable within a period of 12 years from the date of first disbursement by
equal half yearly instalments starting 6 months after the completion of
2 years moratorium period from 05.05.2013.
From Other Parties :
Oil Industry Development Board
(Secured by way of first charge on whole pipeline, spur lines, plant &
machinery, spares, equipments, tools & accessories and other movables both
present & Future, whether installed or not and whether now lying loose or in
cases or which are now lying or stored in or about or shall hereinafter from
time to time during the continuance of the security of these presents be
brought into or upon or be stored or be in or about the Borrower's project of
Chainsa-Jhajjar-Hissar Pipeline including spur lines or wherever else the same
may be or be held by any party to the order or disposition of the borrower or in
the course of transit or on high seas or on order or delivery, howsoever or
wheresoever in the possion of borrwer and either by way of substitution or
addition).
Repayable in four equal instalments after expiary of moratorium of one year
from the date of disbursement. Loan disbursed in installment from July 2009
to March 2011 with rate of interest from 6.74% to 8.31% p.a. depending on date
of disbursement.
Oil Industry Development Board
(Secured by way of first charge on whole pipeline, spur lines, plant &
machinery, spares, equipments, tools & accessories and other movables both
present & Future, whether installed or not and whether now lying loose or in
cases or which are now lying or stored in or about or shall hereinafter from
time to time during the continuance of the security of these presents be
brought into or upon or be stored or be in or about the Borrowers project of
Dadri Bawana--Nangal Pipeline including spur lines or wherever else the
same may be or be held by any party to the order or disposition of the borrower
or in the course of transit or on high seas or on order or delivery , howsoever or
wheresoever in the possession of borrower and either by way of substitution
or addition) Repayable in four equal instalments after expiary of moratorium
of one year from the date of disbursement. Loan disbursed in installment from
July 2011 to March 2013 with rate of interest from 8.50% to 8.98% p.a.
depending on date of disbursement.
3,479.75
77
( `. in Crores )
Non-current Portion
AS AT
31st March 2013
Current Maturities
AS AT
31st March 2012
AS AT
31st March 2013
AS AT
31st March 2012
549.90
516.30
824.85
774.45
549.90
516.30
549.90
516.30
189.34
31.85
1,649.70
347.44
40.88
4,661.03
2,323.35
72.73
8,140.78
4,889.35
698.98
457.50
UNSECURED
TERM LOANS
From Banks :
- Bank of Tokyo Mitsubishi UFJ Ltd.
(1/3 rd repayment at the end of the 4th, 5th & 6th year from the last
date of drawl i.e Dec 2015, Dec 2016 & Dec 2017) Loan carries floating
rate of interest linked to 6 Months LIBOR plus spread.
- Bank of Tokyo Mitsubishi UFJ Ltd.
(Bullet repayment at the end of the 5th year from the last date of
'drawl i.e Aug'2016. Loan carries floating rate of interest linked to 6
Months LIBOR. plus spread)
- Mizuho Corporate Bank
(1/3 rd repayment at the end of the 4th, 5th & 6th year from the last date
of drawl i.e Jan 2016, Jan 2017 & Jan 2018) Loan carries floating rate of
interest linked to 6 Months LIBOR plus spread).
- Sumitomo Mitsui Banking Corporations
(1/3 rd repayment at the end of the 4th, 5th & 6th year from the last date
of drawl i.e Feb 2016, Feb 2017 & Feb 2018) Loan carries floating rate of
interest linked to 6 Months LIBOR plus spread).
- Japan bank for International Co-operation(JBIC)
Repayable in 20 half yearly equal Instalments starting from June'2013
- Sumitomo Mitsui Banking Corporations
(1/2 repayment at the end of the 5th & 6th year from the last date of
drawl i.e Nov 2017, Nov 2018) Loan carries floating rate of interest linked
to 6 Months LIBOR plus spread).
- Society General
(Repayment in 20 half yearly equal Instalments starting from 22nd
October 2012)
Total
a) There has been no defaults in repayment of any of the loans or
interest thereon during the year.
78
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
( `. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
1.13
584.47
1.13
234.01
30.06
5.47
Other Liabilities
69.41
36.02
685.07
276.63
TOTAL
( `. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
359.58
TOTAL
337.77
359.58
337.77
( `. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
223.74
223.74
a) Loan from RBS represents a Foreign Currency (FC) Bridge Loan as part of long term financing arrangement drawn with the approval of RBI for
purchase of Capital Equipment for Petrochemical Expansion Project, to be repaid out of New Long Term FC Loan being finalised
( `. in Crores )
AS AT
ST
31 MARCH, 2013
Trade Payables
AS AT
ST
31 MARCH, 2012
3,103.76
2,509.93
3,103.76
2,509.93
79
( `. in Crores )
AS AT
31ST MARCH, 2013
(a)
(i)
AS AT
31ST MARCH, 2012
220.00
220.00
- Term Loans
406.25
237.50
40.88
(ii) UN-SECURED
- Society General
-Japan bank for International Co-operation(JBIC)
(b)
(c)
(d)
31.85
118.27
35.39
2.68
Others Payables :
2.59
421.63
490.73
598.89
818.83
60.28
31.67
- Statutory Payables
197.66
208.23
226.89
382.35
729.17
586.46
238.96
650.87
311.20
171.08
99.35
107.05
- Other Payables
92.25
123.95
4,208.12
3,654.79
TOTAL
a)
Details in respect of rate of interest and terms of repayment of secured and unsecured current maturities of long term borrowings indicated
b)
There is no amount is due for payment to Investor Education and Protection Fund.
( `. in Crores )
AS AT
ST
31 MARCH, 2013
AS AT
ST
31 MARCH, 2012
271.47
22.12
710.35
723.03
Others :
Provision for Proposed Dividend
Provision for tax on Proposed Dividend
120.72
117.29
332.74
225.80
1,435.28
1,088.24
TOTAL
80
81
Bunk Houses
0.49
15.57
258.01
25,961.54
22,144.38
169.13
2.39
303.94
559.02
166.15
148.94
41.36
0.04
0.04
41.32
0.04
3.51
5.84
1.41
1.67
48.75
48.75
10,398.14
0.55
2.12
44.51
103.61
44.77
81.76
5.17
9,884.44
1.80
72.53
146.45
10.43
26,306.63
9,740.81
31,148.97 10,446.89
777.62
89.44
688.18
30,371.35
1.65
7.10
2.64
117.37
202.24
85.33
214.22
5.47
28.44 28,534.70
0.26
0.02
0.13
789.37
983.19
9.00
9.00
974.19
0.09
1.30
0.09
9.60
18.11
5.15
10.61
908.16
0.23
5.17
13.60
2.08
For the
Year
11,439.01
57.72
57.72
11,381.29
0.64
1.30
2.17
51.26
116.79
48.79
91.18
5.17
10,811.88
1.83
77.69
160.02
12.57
(83.29) 10,446.89
8.93
(0.03)
(0.03)
8.96
(0.04)
(2.85)
(4.93)
(1.13)
(1.19)
19.28
(0.20)
(0.01)
(0.03)
0.06
2.12
--
2.12
0.45
1.67
Adjustments
during the
As at
Upto
year
31.03.2013 31.3.2012
DEPRECIATION
2.12
0.39
0.39
0.01
0.38
For the
Year
2.12
2.51
2.51
0.46
2.05
(` in Crores)
169.13
296.34
15,857.62
12,403.57
89.82
221.42
311.24
TOTAL
146.18
88.09
58.09
Particulars
215.14
47.03
168.11
38.48
(1.70)
40.18
(` in Crores)
b) The borrowing costs capitalised in the fixed assets and capital work-in-progress (CWIP) during the year ended 31st March 2013 is `311.24 Crores (Previous year : ` 215.14 Crores). Asset wise details of borrowing costs and exchange differences in the cost of major heads of
38.33
258.01
15,561.28
1.10
0.38
60.80
91.00
26.32
104.87
0.30
14,534.69
0.36
194.72
315.74
91.25
139.75
19,707.45 15,857.62
719.90
31.72
688.18
18,987.55
1.01
5.80
0.47
66.11
85.45
36.54
122.58
0.30
17,720.77
0.56
226.25
399.00
153.58
As At
31.03.2012
NET BLOCK
Reversed
during the
As At
As At
year
31.03.2013 31.03.2013
IMPAIRMENT LOSS
a) Right of use for laying pipelines is a prepetual right of use of land but does not bestow upon the company, the ownership of land and hence, treated as intangible asset. However, no amortistion is provided on the same, being perpetual in nature.
4,311.19
4,883.70
26,306.63
TOTAL (A+B)
Previous Year
2.40
432.57
87.08
430.17
4,451.13
1.65
7.10
0.18
15.65
345.09
Softwares / Licences
Total (B)
Right of Use *
T O T A L (A)
Producing Property
E&P Assets
2.50
105.31
Transport Equipments
Other Equipments
13.47
71.09
194.61
Office Equipments
28.81
5.47
187.08
4,142.34
2.16
24,420.80
36.71
96.96
Electrical Equipments
29.38
64.47
267.25
462.19
Building : Office/Others
Residential
101.68
139.75
Additions/
Sales/
Adjustments Adjustments
during the
during the
As at
Upto
As at
year
year
31.03.2013 31.3.2012
01.04.2012
Leasehold
Land : Freehold
DESCRIPTION
Tomorrow is Yours
( `. in Crores )
AS AT
31ST MARCH, 2012
1,034.86
10.85
Despatch/Receiving Terminals
3,830.83
1,024.01
23.66
3,807.17
1.16
736.41
1.90
2,502.39
Telecom Project
5.22
Petrochemicals
17.58
23.90
731.72
1.42
Compressor Stations
Telecom/Telesupervisory System
0.92
650.23
0.43
0.26
618.57
Others
401.39
476.07
318.68
476.07
53.57
169.29
B. Buildings
84.91
33.78
84.91
3,339.51
0.25
TOTAL
265.11
155.39
33.78
1,872.62
3,339.26
8,977.82
0.84
1,871.78
7,942.45
82
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
( `. in Crores )
AS AT
AS AT
31ST MARCH,
31ST MARCH,
2013
2012
1. Trade Investments
Quoted
(a) Investments in Equity Instruments :(i) In Joint Venture Companies:
Indraprastha Gas Ltd.
31,500,000
(10.00)
10.00
31.50
98.75
98.75
130.25
97.37
136.32
97.37
93,750,000
*includes 1,00,00,000 equity shares alloted at a premium of `. 5/- per share (93,750,000)
31.50
130.25
10.00
(31,500,000)
136.32
0.86
0.86
556.29
556.29
(10.00)
150,000,000
(210,000,000)
(iii) Others
Gujarat Industries Power Co. Ltd.
570,600
(570,600)
10.00
(10.00)
205,601,068
5.00
(205,601,068)
(5.00)
557.15
784.77
823.72
9.64
9.64
740.57
603.09
244.35
167.95
179.17
179.17
1,173.73
TOTAL QUOTED
959.85
Unquoted
(a) Investments in Equity Instruments :(i) In Subsidiary Company
GAIL Global (Singapore) Pte. Ltd. incorporated in Singapore
2,100,000
USD 1/-
(2,100,000)
(USD 1/-)
740,565,173
10.00
(603,085,173)
(10.00)
244,351,265
10.00
(167,950,000)
(10.00)
83
36,000,000
USD 1/-
(36,000,000)
(USD 1/-)
( `. in Crores )
AS AT
ST
AS AT
ST
31 MARCH,
31 MARCH,
2013
2012
44,450,000
10.00
(44,450,000)
(10.00)
12,500
10.00
(12,500)
15,000,000
10.00
12,500
10.00
(12,500)
0.01
15.00
15.00
0.01
0.01
22.50
22.50
974.31
776.90
0.01
0.01
1.92
0.55
634.44
(10.00)
22,500,000
10.00
(22,500,000)
(10.00)
974,308,300
10.00
(776,900,000)
(10.00)
12,500
10.00
(12,500)
(10.00)
192,000
100.00
(55,000)
ONGC Petro Additions Ltd.
0.01
(10.00)
44.45
(10.00)
(15,000,000)
44.45
(100.00)
634,440,001
10.00
1,692.65
859.43
20.76
20.76
8.10
8.10
28.86
28.86
0.04
0.04
20,760,000
10.00
(20,760,000)
(10.00)
19,000
LE 100/-
(19,000)
(LE 100/- )
30
50.00
(30)
(50.00)
iv). Green Field (B) Co-operative Housing Society Ltd., Mumbai (`.1,750/-)
50.00
(50.00)
400
10.00
(400)
50
(50)
(10.00)
50.00
(35)
v). South East Asia Gas Pipeline Ltd.(Registered in Hongkong).
35
(50.00)
8,347
USD 1/-
(8,347)
(USD 1/- )
0.04
0.04
TOTAL UNQUOTED
2,895.28
1,848.18
TOTAL
3,680.05
2,671.90
784.77
823.72
9,411.91
8,814.13
84
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
( `. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
141.17
299.31
1.55
1.55
142.72
300.86
1.55
141.17
1.55
299.31
120.30
155.69
23.02
5.89
143.32
161.58
23.02
120.30
5.89
155.69
55.60
57.32
166.74
236.15
867.44
279.01
230.91
57.76
68.49
(including dues from Directors and officer ` 0.29 Cr. (Previous Year : `0.44 Cr.)
(Maximum amount due at any time during the year: ` 0.65 Cr.)
(Previous Year : ` 0.77 Cr.)
336.77
299.40
1,221.67
43.24
1,278.41
Less : Provision for Doubtful Income Tax against pending demand
1,177.33
56.74
1,220.57
56.74
1,221.67
43.24
246.73
2,928.01
1,177.33
3,170.66
2,923.93
3,210.33
282.32
(iv) Others :
a) VAT Credit Receivable
66.33
0.03
b) Other Advances
34.66
1.04
2,591.49
3,174.51
85
(`. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
22.49
22.49
0.28
23.03
23.03
22.49
22.49
118.36
335.88
68.01
522.53
52.44
189.93
Subsidiary Companies
i). Brahmaputra Cracker and Polymer Ltd.
ii). GAIL Gas Ltd.
10.00
54.35
62.44
244.28
105.70
100.63
Others
i). South East Asia Gas Pipeline Ltd.
105.70
100.63
236.15
TOTAL (II)
867.44
(`. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
665.78
460.20
272.04
1,125.98
472.58
744.62
460.20
472.58
665.78
272.04
Others :
- Unsecured, Considered Good
Prepaid Expenses
7.41
TOTAL
0.07
673.19
272.11
86
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
( `in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
Current Investments
Quoted
(i) Investments in Govt. or Trust securities
In Government of India Bonds
959,000
9.59
60,000,000
38.95
38.95
9.59
38.95
9.59
269.35
- Market Value
9.59
Note 17 Inventories
( `in Crores )
AS AT
31ST MARCH, 2013
(a) Work-in-Progress
AS AT
31ST MARCH, 2012
5.20
1.93
160.02
96.63
782.25
791.93
503.23
1.62
471.73
501.61
1.55
105.89
83.91
19.64
24.84
87
470.18
86.25
TOTAL
59.07
1,535.33
1,419.74
( `. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
43.24
0.46
32.49
43.70
26.11
58.60
2,508.10
-
1,871.99
2,508.10
14.32
1,886.31
2,551.80
0.46
TOTAL
40.43
2,551.34
1,944.91
1,904.48
( `. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
0.32
0.25
0.23
0.41
10.14
32.27
35.11
31.91
1,651.18
0.97
2.68
783.84
60.75
2.59
571.75
32.03
25.78
47.06
660.96
TOTAL
865.52
2,357.94
931.33
a) None of the above deposits is having original maturity of more than 12 months
88
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
( `. in Crores )
AS AT
31ST MARCH, 2013
101.78
4.44
106.22
4.44
AS AT
31ST MARCH, 2012
79.35
-
101.78
79.35
-
166.51
33.24
5.38
38.62
52.93
28.23
4.89
28.97
175.96
1,293.36
105.74
134.29
1.02
135.31
1.02
69.41
2.33
71.74
2.33
79.35
33.12
22.75
1,575.06
391.94
688.01
197.29
1,277.24
134.29
114.27
0.97
115.24
0.97
114.27
69.41
72.32
3.72
76.04
3.72
72.32
TOTAL
89
314.25
1,966.23
TOTAL
a)
441.22
2,555.86
0.75
89.84
0.03
0.14
0.61
0.02
0.01
0.32
0.02
11.21
0.51
0.59
1.39
0.78
106.22
0.47
63.70
0.09
0.37
0.68
0.16
0.28
0.64
0.07
4.67
0.17
1.01
1.86
5.18
79.35
( `. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
14.77
1.22
14.77
1.22
(`. in Crores)
YEAR ENDED
31ST MARCH, 2012
YEAR ENDED
31ST MARCH, 2013
a) Sale of Products
Sale of Gas
Sale of Polymers
Sale of LPG
Sale of Propane/Pentane/SBPS/Naptha
Sale of Crude Oil
Sale of CNG
Sale of Power
37,552.12
4,203.69
2,902.32
1,735.27
78.22
65.43
60.14
31,749.98
3,726.09
1,661.60
1,615.61
81.19
42.79
1.22
b) Sale of Services
LPG Transmission / RLNG Shippers Charges
1,403.90
1,939.32
4.18
48,005.27
672.60
3.99
40,821.79
541.05
TOTAL
47,332.67
190.02
40,280.74
160.02
TOTAL (Net)
47,522.69
40,440.76
a) Other Operating Income includes ` 60.48 Cr. (Previous year `42.81 Cr.) on account of salary exp recovered on account of employees on deputation to other Comp./Dept
(`. in Crores)
YEAR ENDED
31ST MARCH, 2012
YEAR ENDED
31ST MARCH, 2013
Interest on :
- Bonds (Short term trade investment)
- Deposits with Banks
- Others
(Tax deducted at source : `16.15 Cr. ( Previous Year : `11.23 Cr.))
Add : Transferred to Expenditure during construction period (refer note no - 30)
Dividend from Trade Investment
Transfer From Capital Reserve
Net Gain on Foreign Currency Transaction and Translation
Excess Provision Written Back
Miscellaneous Income
(Tax deducted at source : ` 0.40 Cr.( Previous Year : ` 0.56 Cr.))
Add : Transferred to Expenditure during construction period (refer note no - 30)
TOTAL
0.30
138.72
110.31
249.33
(55.60)
0.67
101.24
72.91
174.82
193.73
(21.28)
382.58
0.11
22.03
131.66
35.84
(1.44)
153.54
252.40
0.11
216.50
26.54
34.40
764.51
(0.71)
25.83
648.38
90
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
Note 24 (Increase)/Decrease in Inventories of Finished Good, Work in Progress & Stock in Trade
( `. in Crores )
YEAR ENDED
31ST MARCH, 2013
YEAR ENDED
31ST MARCH, 2012
5.20
1.93
Finished Goods
160.02
96.63
Stock in Trade
782.25
791.93
947.47
890.49
TOTAL
Inventories at the beginning of the year
Work-in-Progress
1.93
Stock in Trade
3.26
96.63
Finished Goods
82.71
791.93
(Increase) / Decrease
306.77
890.49
392.74
(56.98)
TOTAL
(497.75)
( `. in Crores )
YEAR ENDED
31ST MARCH, 2013
YEAR ENDED
31ST MARCH, 2012
605.31
516.84
121.71
83.51
130.98
120.46
TOTAL
858.00
720.81
72.55
70.52
TOTAL
785.45
650.29
a) Employee benefits expenses include `86.79 Cr.(Previous Year : ` 70.36 Cr.) on account of retirement benefits viz. PF, Leave encashment,
Medical, Long Service award, terminal benefit, sick leave and gratuity.
91
( `. in Crores )
YEAR ENDED
31ST MARCH, 2013
YEAR ENDED
31ST MARCH, 2012
Interest on:
- Term Loans
290.05
- Bonds
133.81
- Others
4.36
133.76
92.00
428.22
16.70
242.46
78.04
49.04
40.10
TOTAL
506.26
331.60
311.24
215.14
195.02
116.46
( `. in Crores )
YEAR ENDED
31ST MARCH, 2013
YEAR ENDED
31ST MARCH, 2012
983.19
Impairment Loss
789.37
0.39
2.12
983.58
791.49
2.64
0.78
980.94
790.71
a) As required by Accounting Standard (AS) 28, 'Impairment of Assets', an amount of `0.39 Cr. (Previous Year : ` 2.12 Cr.) has been impaired
in respect of GAIL Tel Cash Generating Units (ref note no - 48)
92
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
(` in Crores)
YEAR ENDED
31ST MARCH, 2013
93
YEAR ENDED
31ST MARCH, 2012
734.86
297.34
199.44
1,036.70
589.69
268.14
165.60
892.88
1,236.14
6.96
18.77
247.27
24.78
24.89
296.94
17.83
86.98
1,058.48
7.20
17.08
202.00
18.49
29.79
1.95
9.09
3.47
92.83
0.57
33.76
0.37
18.79
25.91
81.65
137.60
53.57
84.03
4.76
29.48
31.33
6.13
12.91
10.34
0.39
49.91
134.95
8.81
3.34
21.16
120.71
15.51
68.43
64.65
101.15
250.28
13.92
94.31
1.03
9.09
3.70
87.99
0.54
24.21
0.17
12.99
21.93
71.24
152.31
-
152.31
10.39
9.38
49.53
3.48
1.19
2.89
0.29
472.77
207.37
1.32
2.73
18.45
131.77
16.52
65.37
54.43
24.08
(` in Crores)
YEAR ENDED
31ST MARCH, 2013
Net Loss on Foreign Currency Transaction and Translation
YEAR ENDED
31ST MARCH, 2012
12.41
Payment to Auditors
Audit Fees
0.38
0.34
0.07
0.06
0.16
0.28
0.14
0.89
0.14
0.68
3,772.52
30.36
17.66
3,959.43
3.07
3,989.79
TOTAL
0.10
256.70
3,754.86
(` in Crores)
YEAR ENDED
31ST MARCH, 2013
YEAR ENDED
31ST MARCH, 2012
209.41
Welfare Expenses
(0.29)
(1.05)
(0.26)
0.25
0.84
0.07
Rent
Repairs and Maintenance
Other Expenses
10.87
2.01
Depreciation(Net)
36.61
0.45
Interest
0.11
0.51
256.96
TOTAL
2.57
Less :
- Sales
- Miscellaneous Income
0.26
TOTAL (NET)
(4.77)
0.26
256.70
4.27
(0.50)
3.07
94
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
(` in Crores)
YEAR ENDED
31ST MARCH, 2013
YEAR ENDED
31ST MARCH, 2012
55.60
7.58
Welfare Expenses
9.37
52.33
11.24
72.55
6.95
70.52
1.08
0.31
0.13
0.12
Rent
1.91
2.16
0.11
0.12
0.03
0.04
0.05
0.61
0.53
Insurance
0.02
0.03
Communication Expenses
0.59
0.69
0.21
0.24
Travelling Expenses
11.19
9.95
0.04
0.01
0.06
0.15
Entertainment Expenses
0.53
0.40
0.30
0.22
0.02
Consultancy Charges
0.69
0.58
0.07
0.03
Other Expenses
12.77
2.03
Depreciation
2.64
0.78
311.24
215.14
416.79
304.10
55.60
21.28
1.44
0.71
Net Expenditure
57.04
359.75
21.99
282.11
72.55
70.52
311.24
215.14
2.64
0.78
c) Depreciation
d) Other Expenses
e) Other Income
Balance Carried over to Balance Sheet
95
30.36
(57.04)
17.66
359.75
NIL
(21.99)
282.11
NIL
31.
I.
(c)
33. (a) Freehold Land acquired valuing `.11.55 Crores (Previous Year:
` 6.39 Crores) and Leasehold Land acquired valuing `.64.07
Crores (Previous Year : `.NIL) are valued / capitalized on
provisional basis.
(b) Title deeds for freehold land valuing ` 10.86 Crores (Previous Year:
` 7.84 Crores) and leasehold land valuing ` 13.19 Crores (Previous
Year: ` 20.94 Crores) are pending execution.
(c) Title Deeds in respect of ten residential flats at Asiad Village,
New Delhi, valuing ` 1.17 Crores (Previous Year: ` 1.17 Crores) are
still in the name of ONGCL. Concerned authorities are being
pursued for getting the same transferred in the name of the
Company.
(d) Net Block for Building includes an amount of ` 1.03 Crores
(Previous Year: `. 1.20 Crores) earmarked for disposal but in use.
96
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
34. Disclosure as per Accounting Standard-5 on Net Profit or Loss for the
period, Prior Period Items and changes in Accounting Policy.
(b) During the year, a net amount of ` 2.42 Crores ( Previous Year
` 1.63 Crores) credited in Foreign Currency Monetary Item
Translation Difference Account and a net amount of ` 1.77 Crores
(Previous Year: ` 0.28 Crores) amortized during the year
resulting in net decrease in profit by ` 0.65 Crores. The balance
amount remaining to be amortized as on 31.03.2013 is
` 2.00 Crores ( Previous Year ` 1.35 Crores).
(c) During the year, the company has changed its Accounting Policy
No 1.5 (vii) of charging Prepaid expenses and prior period
expenses/income from upto ` 1,00,000/- to upto ` 5,00,000/- in
each case to relevant heads of account. As such, Short term loans
and advances decreased by ` 0.34 Crore, Prior period
adjustments decreased by ` 0.50 Crore, and correspondingly
other expenses increased by ` 0.84 Crore, resulted decrease in
profit for the year by ` 0.34 Crore.
(d) During the year, the company has reviewed and modified its
Accounting Policy No. 1.03 related to valuation of stock of LNG
and Natural Gas in Pipeline, Raw materials and finished products
to bring more clarity. As such, there is no impact on the Financial
Statement for the year.
(e) During the year the company has added Note 1.03(vii) in the
Accounting Policy for valuation of stock relating to Renewable
Energy Certificates (RECs). As such, the profit of the company
has increased by ` 0.07 Crore.
(f) The company has added Note 1.10 (v) in the Accounting Policy
relating to derivative contracts, gain/losses on settlement and
losses on restatement (by marking them to market) at the
balance sheet date are recognized in the Statement of Profit &
Loss. As such, there is no impact in the Statement of Profit and
Loss during the year.
(d) (i)
MOPNG has issued clarification vide letter No. L12014/1/2010-GP dated 04.04.2012 on the APM gas supply to
consumers beyond their Gas Linkage Committee (GLC)
allocations and directed GAIL to recover the amount as per
market rates for the quantum of APM gas supplied to
consumers beyond GLC allocation for the period from July
2005 to March 2010. Accordingly, GAIL raised the
supplementary invoices for supply of Natural Gas for the
difference of APM and Non-APM prices for the quantity
drawn more than the GLC allocation for the said period by
issuing the debit notes for additional amount of ` 68.24
Crores excluding taxes. Some consumers have obtained stay
orders from courts and the cases are subjudice. The
unrealized amount of ` 56.93 Crores as on 31.03.2013 has
been shown as recoverable from consumers and
correspondingly payable in Gas Pool Account (Provisional).
The amount payable in Gas Pool Account will be invested as
and when said amount is recovered from the consumers.
(ii) MOPNG directed that APM gas price would be applicable for
only those quantities of gas which are used for generating
electricity which is supplied to the grid for distribution to the
consumers through the public utilities/ licensed distribution
companies. Accordingly, GAIL raised the supplementary
invoices considering difference of APM and Non APM prices
for the said directive for the period from July 2005 to
February 2013 by issuing debit notes for an additional
amount of ` 336.09 Crores. Consumers have obtained stay
orders from courts and the cases are subjudice. This amount
has been shown as recoverable from consumers and
correspondingly payable in Gas Pool Account (Provisional)
amounting to ` 293.53 crores and VAT payable amount to
` 42.56 crores. The amount payable in Gas Pool Account will
be invested as and when said amount is recovered from the
consumers.
36. Disclosure as per Accounting Standard-11 on The effect of changes in
Foreign Exchange Rates
(i) The amount of exchange difference (net) recognized in the
Statement of Profit & Loss is (` 22.03) Crores (Previous Year:
` 12.41 Crores).
97
98
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
(` in Crores)
Gratuity
Funded
12-13
PRMS
Non Funded
11-12
12-13
11-12
EL
Non Funded
TB
Non Funded
12-13
11-12
12-13
19.68
25.31
HPL
Non Funded
11-12
12-13
LSA
Non Funded
11-12
12-13
11-12
27.95
22.14
12.55
12.25
8.94
8.56
3.97
3.24
15.07
12.87
0.46
0.29
7.63
7.35
0.79
0.65
(9.99)
(9.35)
(25.84)
(19.44)
5.33
6.64
10.42
15.55
0.47
1.75
(10.74)
(15.53)
1.88
2.39
1.06
1.91
9.30
9.88
45.17
53.73
0.93
2.04
9.44
4.07
2.67
3.04
Expenses recognized in
P&L Account for FY 2012-13
123.05
110.47
55.21
47.50
202.18
197.62
6.28
5.46
98.53
90.37
11.21
10.12
121.60
109.95
Difference
(1.45)
(0.52)
(55.21) (47.50)
(202.18) (197.62)
(6.28)
(5.46)
(98.53)
(90.37)
(11.21)
(10.12)
(1.45)
(0.52)
(55.21) (47.50)
(202.18) (197.62)
(6.28)
(5.46)
(98.53)
(90.37)
(11.21)
(10.12)
110.47
102.50
47.50
38.60
197.62
158.83
5.46
3.45
90.37
86.51
10.12
8.30
Interest Cost
8.94
8.56
3.97
3.24
15.07
12.86
0.46
0.29
7.63
7.35
0.79
0.65
27.95
22.14
19.68
25.31
12.55
12.25
(4.19)
(3.54)
(1.59)
(0.97)
(40.61)
(14.93)
(0.11)
(0.03)
(1.28)
(0.21)
(1.58)
(1.22)
(20.12)
(19.19)
5.33
6.63
10.42
15.55
0.47
1.75
(10.74)
(15.53)
1.88
2.39
123.05
110.47
55.21
47.50
202.18
197.62
6.28
5.46
98.53
90.37
11.21
10.12
109.95
103.89
9.99
9.35
0.13
0.01
(4.19)
(3.54)
5.72
0.24
121.60
109.95
8.50%
8.50%
8.5%
8.5%
8.5%
8.5%
8.5%
8.5%
8.5%
8.5%
8.5%
8.5%
9.09%
9.00%
10%
10%
10%
10%
10%
10%
12.00% 12.00%
12%
12%
12%
12%
99
WITHDRAWAL RATE %
(2012-13)
WITHDRAWAL RATE %
(2011-12)
UPTO 30 YEARS
3%
3%
UPTO 44 YEARS
2%
2%
ABOVE 44 YEARS
1%
1%
Note : The actuarial valuation takes into account the estimates of future
salary increases, inflation, seniority, promotion and other relevant factors.
39. Disclosure as per Accounting Standard (AS) 16 on 'Borrowing Costs'
Borrowing costs capitalized during the year r 311.24 Crore (Previous
Year: r 215.14 Crore).
40. MOP&NG had issued scheme of sharing of under recoveries on
sensitive petroleum products. During the year, the Company has given
discounts amounting to r 2687.18 Crores (Previous Year: r 3182.62
Crores). Corresponding adjustment on account of CST amounting to
r 9.58 Crores (Previous Year: r 17.54 Crores) has been made.
41.
(a)
(b)
(c)
Further PNGRB vide order no-TO/08/2013 dated 10th May 2013 have
notified "PROVISIONAL" initial unit natural gas pipeline tariff for
K.G.Basin Natural Gas Pipeline network effective from 20.11.2008. In
accordance with the order, the company has derecognized the
revenue by an amount of r 517.23 Crores.
Further, the company has also derecognized the revenue by an amount
of r 11.08 Crore on account of lower tariff submitted to PNGRB for
approval in respect of other pipelines.
(d)
Transmission services
a) Natural Gas
b) LPG
(ii)
(iii)
Petrochemicals
(iv)
(v)
Other Segments (include GAIL TEL, E&P, City Gas and Power
Generation)
Previous
Year
4022.20
3653.84
1,26,84,77,400
1,26,84,77,400
31.71
28.80
10.00
10.00
100
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
(r in Crores)
Sl.
No.
Particulars
As on
31st March, 2013
As on
31st March, 2012
5472.01
4012.48
0.00
0.00
5472.01
4012.48
Depreciation
b)
Others
(v)
126.86
107.94
d)
262.07
250.28
e)
2689.80
1885.62
f)
93.22
0.00
3171.95
2243.84
2300.06
1768.64
(ii)
(iii) Petronet LNG Limited: A Joint Venture with BPCL, IOCL and
ONGCL for setting up LNG imports facilities. The company
has equity participation of 12.50% of the paid up capital and
has invested r 98.75 Crores (Previous Year r 98.75 Crores)
for acquiring 9,37,50,000 equity shares of r 10/- each in Joint
Venture Company.
(iv) Bhagyanagar Gas Limited: A Joint Venture with HPCL for
distribution and marketing of CNG, Auto LPG, Natural Gas
and other gaseous fuels in Andhra Pradesh. The company
101
Participating Interest
MN-OSN-2000/2
20%
CB-ONN-2000/1
50%
AA-ONN-2002/1
80%
AA-ONN-2003/1
35%
CB-ONN-2003/2
20%
AN-DWN-2003/2
15%
RJ-ONN-2004/1
KG-ONN-2004/2
40%
CY-DWN-2004/1
10%
10
CY-DWN-2004/2
10%
11
CY-DWN-2004/3
10%
12
CY-DWN-2004/4
10%
13
CY-PR-DWN-2004/1
10%
22.225%
14
CY-PR-DWN-2004/2
10%
15
KG-DWN-2004/1
10%
16
KG-DWN-2004/2
10%
17
KG-DWN-2004/3
10%
18
KG-DWN-2004/5
10%
2012-13
2011-12
Assets
9,483.82
8,705.51
19
KG-DWN-2004/6
10%
Non-Current Assets
8,042.82
6529.47
20
CY-ONN-2005/1
40%
Current Assets
1,441.00
2176.04
21
AN-DWN-2009/13
10%
6,477.34
5,922.85
22
AN-DWN-2009/18
10%
Non-Current Liabilities
3,578.57
3,507.17
23
50%
2,898.77
2,415.68
24
CB-ONN-2010/11
25%
25
AA-ONN-2010/2
20%
Income
6,381.26
5890.73
26
GK-OSN-2010/1
10%
Expenditure
5,922.44
4900.50
27
GK-OSN-2010/2
10%
728.87
733.14
28
CB-ONN-2010/8
25%
In addition to above, the Company has farmed-in as non operator in the following blocks:
Participating Interest
A-1,Myanmar*
8.5%
2.
A-3, Myanmar*
8.5%
3.
CY-OS/2
25%
102
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
2012-13
223.69
Expenses
83.13
CY-ONN-2002/1
50%
28.03.2011
12
TR-CBM-2005/III
35%
10.10.2011
13
MB-OSN-2004/1
20%
29.03.2012
14
MB-OSN-2004/2
20%
13.04.2012
(v)
2011-12
86.57
Income
11
286.47
6.42
5.77
7.10
1304.99
867.35
355.06
172.20
(r in Crores)
Producing Property
Particulars
Other Assets
Current Liabilities
Till
31st March,2013
Till
31st March,2012
Income
8.25
12.77
0.37
2.54
Crude Oil
(MT)
Sales*
Qty Value
Qty Value
(MT)
Closing
Stock
Qty Value
(MT)
(MT)
0.64 21268.97
- 21325.92
87.57 589.25
0.41
0.34 22673.46
0.64
5.59
48.27
Qty Value
0.36
Other Assets
Production
(Treated &
processed
crude)
7.31
Expenses
Opening
stock
27.41
Current Liabilities
(iv) List of the E&P and CBM Blocks relinquished till 31.03.2013 is
given below :
* includes test production sales for r 2.65 Crores (Previous Year r 1.47 Crores)
b)
2012-13
2011-12
2012-13
2011-12
175
90
175
90
Oil : in 000'MT
Beginning of the year
Additions
SL
NO
Proved Developed
Reserves
Participating
Interest
Date of
Relinquishment
GS-DWN-2000/2
15%
24.01.2007
Closing Balance
MB-DWN-2000/2
15%
24.01.2007
KK-DWN-2000/2
15%
15.08.2004
12
107.67
107.67
3.73
3.73
21.27
22.67
21.27
22.67
162
175
150
175
6220
6220
Gas : in Million M3
Deletion
Production
MN-OSN-97/3
15%
08.11.2007
Additions
NEC-OSN-97/1
50%
11.09.2007
Deletion
AD-7, Myanmar
10%
28.02.2008
Production
6220
6220
20%
10.11.2008
25%
10.06.2010
RM-CBM-2005/III
35%
11.05.2010
10
103
MN-ONN-2000/1
Closing Balance
MR-CBM-2005/III
45%
11.05.2010
c)
Opening Addition
Reversal/
Closing
Balance during adjusted during Balance
the year
the year
231.29
138.67
37.22
332.74
Total
231.29
138.67
37.22
332.74
USD
3779.37
2328.47
EURO
Sundry creditors/deposits
and retention monies
223.74
Others
221.20
USD
195.63
EURO
17.73
USD
17.06
-
USD
381.83
1090.09
153.06
8.32
Others
117.78
(b)
54. (a)
139.28
EURO
51.
12.44
11.63
Others
Unexecuted amount of contracts
remaining to be executed
82.56
EURO
(b) Further the Board in its 287th Meeting held on 06th April'2011
has approved transfer of CNG stations and its associated
pipeline in Vadodara to proposed Joint Venture Company of
GAIL Gas Ltd. and Vadodra Municipal Seva Samiti at market
value yet to be determined. The transfer has not been effected
during the financial year.
179.91
Others
35.04
In some cases, the Company has received intimation from Micro and
Small Enterprises regarding their status under "The Micro, Small and
Medium Enterprises Development Act, 2006". The Company has
55. During the year, an amount of r 24.98 Crore capitalized towards the
Expenditure on Research and Development.
56. The Statement of Profit & Loss includes: (a)
(b)
104
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
(c)
Notes:
a.
b.
The remuneration did not include Provision for Leave, Gratuity and
Post-Retirement Benefits as per revised Accounting standard-15
since the same were not ascertained for individual employees.( Refer
Note No-38)
IV.
(r in Crores)
2012-13
I.
2011-12
1099.47
555.18
Capital Goods
II.
153.04
177.97
2733.86
3239.03
2012-13
Qty.
ii)
Technical/Consultancy/
164.29
57.66
47.59
91.91
497.04
2301.85
ii)
Qty.
(r in
Crores)
1425.55 2494.10
100
i) Raw Material
Sales
- Imported
(MMSCM)
- Indigenous
Gas consumed
License Fee/Engineering
iii) Others
(r in
Crores)
2011-12
32.02
8.85
Sub total
684.69 23.06
1338.47 2968.68
100
i) Stores, Spares
III.
Components
Consumed
- Indigenous
2.33
2.19
0.26
0.10
0.37
0.33
2.96
2.62
0.19
0.22
Total
Independent Directors:
153.80 57.36
131.69 44.29
114.34 42.64
Sub total
P.K. Jain
Director (Finance)
297.34
Total
58.
N.K. Nagpal
Secretary
165.65 55.71
- Imported
100
3265.53
R. D. Goyal
Director (Projects)
B. C. Tripathi
Chairman & Managing Director
Navin Bansal
(Partner)
Membership No. 91922
105
100
268.14
2762.24
Sandeep Gupta
(Partner)
Membership No. 413890
(Annexure - A)
TRANSMISSION
SERVICES**
SEGMENTS
NATURAL
GAS
LPG &
OTHER
UNLIQUID
SEG- ALLOCABLE
HYDRO- MENT***
CARBONS
LPG
TOTAL
ELIMINATION
CONSOLIDATED
TOTAL
REVENUE
External Sales/Other Income
Intersegment sales
Total revenue
NATURAL
PETROGAS
CHEMICALS
TRADING**
(` in Crores)
3,066.55
293.92
35,595.56
3,743.68
4,433.71
199.26
47,332.68
47,332.68
280.72
4,013.85
21.18
18.28
4,334.03
4,334.03
217.54
51,666.71
4,334.03 47,332.68
(102.17)
6,326.77
6,326.77
648.21
648.21
648.21
3,347.27
RESULTS
Segment Result
(Profit before Interest &Tax)
1,832.31
97.31
1,385.82
1,525.04
1,588.46
(648.21)
5,678.56
5,678.56
Interest Expenses
Operating Profit
1,832.31
97.31
1,385.82
1,525.04
1,588.46
(102.17)
195.02
195.02
195.02
574.23
574.23
574.23
2,035.57
2,035.57
2,035.57
(2,304.57) 4,022.20
4,022.20
1,832.31
97.31
1,385.82
1,525.04
1,588.46
(102.17)
1,832.31
97.31
1,385.82
21,730.04
849.88
1,525.04 1,588.46
4,022.20
2,155.54
1,339.73
864.35
26,939.54
26,939.54
17,744.64 17,744.64
17,744.64
21,730.04
849.88
2,155.54
1,339.73
44,684.18
5,042.82
60.17
625.49
347.83
448.86
6,525.17
6,525.17
2,567.65
2,567.65
OTHER INFORMATION
Segment Assets
Unallocated Assets
Total Assets
Segment Liabilities
Unallocated Liabilities
2,567.65
Total Liabilities
5,042.82
60.17
625.49
347.83
9,092.82
4,572.49
18.76
108.92
(43.60)
192.40
34.73
4,883.70
4,883.70
Depreciation*
583.79
48.76
168.35
78.60
77.46
23.98
980.94
980.94
111.97
0.06
78.90
6.62
(0.09)
(53.57)
(1.87)
142.02
142.02
106
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
(Annexure - A)
TRANSMISSION
SERVICES**
SEGMENTS
NATURAL
GAS
NATURAL PETROGAS
CHEMICALS
TRADING**
LPG &
OTHER
UNLIQUID
SEG- ALLOCABLE
HYDRO- MENT***
CARBONS
LPG
TOTAL
(` in Crores)
ELIMINATION
CONSOLIDATED
TOTAL
REVENUE
External Sales/Other Income
3,564.31
454.21
29,670.79
3,377.53
3,090.24
123.66
40,280.74
40,280.74
288.10
3,380.77
37.87
3,706.74
3,706.74
3,852.41
454.21
33,051.56
3,415.40
3,090.24
123.66
43,987.48
2,153.86
272.01
1,088.60
1,465.80
554.43
(196.42)
5,338.28
287.75
287.75
287.75
2,153.86
272.01
1,088.60
1,465.80
554.43
(196.42)
(287.75)
5,050.53
5,050.53
Interest Expenses
116.46
116.46
116.46
405.94
405.94
405.94
1,686.17
1,686.17
1,686.17
3,653.84
RESULTS
Segment Result
(Profit before Interest &Tax)
Unallocated expenses (Net)
Operating Profit
2,153.86
272.01
1,088.60
1,465.80
554.43
2,153.86
272.01
1,088.60
1,465.80
554.43
16,776.36
912.60
1,945.60
1,199.94
713.83
16,776.36
912.60
3,570.07
118.63
3,706.74 40,280.74
5,338.28
3,653.84
21,548.33
21,548.33
14,602.87 14,602.87
14,602.87
36,151.20
362.12
4,791.78
4,791.78
2,618.08
2,618.08
2,618.08 7,409.86
7,409.86
OTHER INFORMATION
Segment Assets
Unallocated Assets
Total Assets
Segment Liabilities
1,945.60 1,199.94
326.36
414.60
Unallocated Liabilities
Total Liabilities
2,618.08
3,570.07
118.63
326.36
414.60
362.12
3,411.55
13.79
26.87
120.81
594.57
143.60
4,311.19
4,311.19
Depreciation*
463.50
49.04
164.28
86.97
11.77
15.16
790.72
790.72
579.70
0.05
40.18
(4.61)
0.57
53.66
13.89
683.44
683.44
107
(Annexure - B)
2)
3)
4)
5)
6)
7)
8)
9)
10)
11)
12)
13)
14)
15)
2)
Shri R D Goyal
3)
Shri S L Raina
4)
5)
Shri S Venkatraman
6)
Shri P K Jain
2)
A-1, Myanmar
A-3, Myanmar
4)
5)
CY-OS/2
6)
RM-CBM-2005/III
7)
TR-CBM-2005/III
MR-CBM-2005/III
9)
AD-7, Myanmar
10)
BLOCK-56, Oman
108
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
II) The following transactions were carried out with the related parties in the ordinary course of business:
(` in Crores)
2011-12
2,871.18
2,159.69
139.07
84.43
16,101.75
11,319.88
730.83
547.59
17.20
10.62
16.50
5.98
7)
117.43
77.50
8) Other Income
0.42
0.45
4.44
28.20
(20.54)
1)
Sales
2)
3)
Purchases
Dividend Income
(` in Crores)
Key Management Personnel(KMP)
Relatives of KMP
2012-13
2011-12
2012-13
2011-12
1)
Remuneration
2.96
2.62
0.34
0.44
2)
0.32
0.45
3)
0.18
0.18
0.11
0.14
0.00
0.03
4) Self lease
* Remuneration includes Basic, Allowances, reimbursements, contribution to PF and perquisites. In addition, whole time directors are allowed use of staff
car including for private jouneys upt a ceiling of 1000 Kms per month on payment in accordance with the Bureau of Enterprises Circular
(` in Crores)
2)
3)
Other assets
109
2011-12
0.75
(13.34)
231.27
316.40
-10.47
28.73
0.00
4.28
(Annexure - C)
Previous Year
Amount as on
31.03.2013
Maximum amount
outstanding during the
year ended 31.03.2013
55.6
57.72
Nil
Nil
Amount
as on
31.03.2012
Maximum amount
outstanding during the
year ended 31.03.2012
Repayment of
Loan to be made
till 23 September
2014 Rate of
interest on loan
is 6 months
LIBOR+100 basis
points.
57.32
59.68
Nil
Nil
Repayment of
Loan to be made
till 23 September
2014 Rate of
interest on loan is
6 months
LIBOR+100 basis
points.
Nil
Nil
Nil
Nil
Nil
Nil
Nil
274.87
Nil
Nil
Nil
Nil
NA
Nil
Rate of interest on
loan was 6 months
LIBOR+200 basis
points+withholding
tax
Nil
Nil
Nil
75
75
60
60
Nil
Nil
Nil
Nil
Repayment of
Loan is schdule
in Five monthly
installment
starting from
July'2012.
Nil
Repayment of Loan is
schdule in Five
monthly installment
starting from
July'2012.
Nil
Nil
Nil
110
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
(Annexure - D)
I. Quantitative Information
S.
No.
PARTICULARS
(Value ` in Crores)
OPENING
STOCK
QTY
PURCHASES
QTY
VALUE
INTERNAL
CONSUMPTION
SALES
QTY
VALUE
VALUE
QTY
CLOSING STOCK
QTY
VALUE
VALUE
339.96
221.96
791.93
306.77
29775.10
30893.37
38137.13
32417.13
27444.73
28446.55
37552.12
31749.98
2281.01
2359.97
4294.57
3668.87
319.84
339.96
782.18
791.93
LPG (M/T)
Year Ended 31.03.2013
Year Ended 31.03.2012
7047.99
5218.47
12.16
7.95
1074633.77
1124673.52
2902.32
1661.60
9956.33
7047.99
20.66
11.65
Pentane (M/T)
Year Ended 31.03.2013
Year Ended 31.03.2012
196.63
626.54
0.68
2.86
19910.82
23491.24
125.67
140.36
885.86
196.63
2.04
0.68
Propane (M/T)
Year Ended 31.03.2013
Year Ended 31.03.2012
3199.69
3256.29
5.47
6.50
127906.16
146155.37
821.05
776.77
3416.02
3199.69
8.87
5.47
0.00
79.34
0.00
0.13
0.00
2075.44
0.00
11.90
0.00
0.00
0.00
0.00
Naptha (MT)
Year Ended 31.03.2013
Year Ended 31.03.2012
546.75
802.30
0.86
1.58
147694.87
143913.30
788.55
686.58
841.63
546.75
1.76
0.86
Polymers (M/T)
Year Ended 31.03.2013
Year Ended 31.03.2012
8110.26
15155.10
32.47
48.72
427444.89
448164.12
3963.39
3567.21
5558.36
4914.41
16157.91
8110.26
76.59
32.47
C2/C3 (M/T)*
Year Ended 31.03.2013
Year Ended 31.03.2012
4245.74
1307.75
6.89
1.95
2471.45
4245.74
5.44
6.89
Ethylene (M/T)*
Year Ended 31.03.2013
Year Ended 31.03.2012
1724.94
776.56
4.14
1.73
834.55
1724.94
2.75
4.14
10 Butene-1 (M/T)*
Year Ended 31.03.2013
Year Ended 31.03.2012
469.65
85.70
1.64
0.31
229.59
469.65
1.01
1.64
646.20
515.11
0.64
0.34
21325.92
22542.37
78.22
81.19
589.25
646.20
0.41
0.64
12 CNG(000'KG)
Year Ended 31.03.2013
Year Ended 31.03.2012
17624.07
12515.21
65.43
42.79
201563788
4213238.00
60.14
1.22
47258.57
38584.90
240.30
158.88
6730.29
4602.56
40.56
32.19
13 Power (KWH)
Year Ended 31.03.2013
Year Ended 31.03.2012
14 Other Products (M/T)
Year Ended 31.03.2013
Year Ended 31.03.2012
4602.56
3111.24
32.19
10.64
9090.88
12428.74
Note : (i) Difference in reconciliation of opening stock, purchase, sales and closing stock is on account of measurement tolerance
(ii) Natural Gas used for Fuel & Raw Material.
(*) Ethylene, Butene 1 and C2/C3 are consumed internally for manufacture of final products at PATA
111
PREVIOUS YEAR
2011-12
Licensed
Capacity
175.66
175.66
89.44
137.66
137.66
105.15
b) Others
i)
Installed
Capacity
Gas
Throughput
34.68
34.68
15.06
34.67
34.67
12.47
Production
Licensed
Capacity
Installed
Capacity
Gas
Throughput
Production
ii)
LPG (M/T)
1170376
1112373
1077866
1170376
1112373
1124341
iii)
Propane (M/T)
201085
201085
129570
201,085.00
201,85.00
146015
iv)
Ethylene (M/T)
400000
446000
448534
400,000.00
446,000.00
457080
v)
HDPE/LLDPE (M/T)
410000
410000
441051
410,000.00
410,000.00
446,041.00
vi)
Pentane
73545
73545
20739
80,605.00
80,605.00
23,144.19
127773
127773
147988
120,714.00
120,714.00
144165
17644
ix)
C2/C3**
562800
624862
562800
635271
x)
Butene-1***
10,000.00
10000
10004
10000
10000
10097
12515208
112
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
Cash Flow Statement for the Financial Year Ended 31st March, 2013
(` in Crores)
2012-13
2011-12
Add :
Depreciation
6057.77
1020.19
5340.01
791.94
Capital Reserve
(0.11)
(0.11)
(1.77)
(0.28)
195.02
116.46
Interest Expenditure
(382.58)
(252.40)
Interest Income
(193.73)
(174.82)
271.16
51.08
(51.96)
360.49
106.94
37.93
15.79
(4.43)
137.60
152.31
Other Provisions
Provision / Writte off of Assets / CWIP
Profit / Loss on Sale of Investment
0.00
0.10
10.34
2.89
1126.89
3
4
1081.16
7184.66
6421.17
(1611.22)
(1259.36)
Inventories
(124.40)
(564.63)
1097.27
1315.90
(638.35)
5
6
5913.08
(1512.90)
(1425.34)
5033.41
(508.09)
6546.31
4487.74
(6680.50)
3.34
62.28
Sale of Investments
9.59
1.07
(415.81)
(895.31)
(187.45)
(71.10)
Interest Received
235.78
189.60
Dividend Received
382.58
252.40
113
(5472.15)
(7141.56)
(` in Crores)
2012-13
2011-12
3971.64
3373.85
(478.73)
(337.00)
223.74
Interest Paid
(421.37)
(329.94)
(1429.93)
(1253.11)
1865.35
1453.80
1426.61
(1200.02)
931.33
2131.35
2357.94
931.33
2357.94
931.33
0.00
0.00
2357.94
931.33
N. K. Nagpal
Secretary
P. K. Jain
Director (Finance)
R. D. Goyal
Director (Projects)
B. C. Tripathi
Chairman & Managing Director
Navin Bansal
(Partner)
Membership No. 91922
Sandeep Gupta
(Partner)
Membership No. 413890
114
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
Statement pursuant to Section 212 (1) (e) of the Companies Act, 1956
relating to Company's interest in the Subsidiary Company
(`. in Crores)
Name of the subsidiary Company
Brahmputra Cracker
& Polymer Limted
31.03.2013
31.03.2013
31.03.2013
31.12.2012
14.09.2004
08.01.2007
27.05.2008
26.09.2011
74,05,65,173 equity
shares of Rs. 10 per
share
24,43,51,265 equity
shares of Rs. 10 per
share
36,000,000 equity
shares of USD 1 per
share
100%
70%
100%
100%
4.93
-14.64
27.01
14.28
9.83
Nil
8.34
1.27
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
a)
b)
N. K. Nagpal
Secretary
115
P.K Jain
Director(Finance)
R. D. Goyal
Director(Projects)
B. C. Tripathi
Chairman & Managing
Director
LAND : FREEHOLD
DEPRECIATION
NET BLOCK
Sales/
Additions/
Adjustments As at
As at
As at
As at
As at
As at
For The
Adjustments Adjustments
during the 31.03.2013 31.03.2013 31.03.2012
01.04.2012
31.03.2013 01.04.2012 Year
during the
during the
year
Year
Year
2,876.20
2,876.20
107.53
107.53
2,768.67
2,768.67
375.81
375.81
133.77
15.01
148.78
227.03
242.04
25,954.55
2,873.06
(9.50)
28,837.11
7,154.98 484.26
(4.15)
7,635.09
21,202.02
18,799.57
1,176.81
11.05
9.51
1,178.35
883.46
47.82
931.28
247.07
293.35
1,639.24
265.27
76.47
1,828.04
964.10
134.90
(16.14)
1,082.86
745.18
675.14
23.86
23.86
5.97
1.09
7.06
16.80
17.89
32,046.47
3,149.38
76.48
(20.29)
LAND : LEASEHOLD
BUILDING, ROADS ETC.
TRANSPORT EQUIPMENTS
TOTAL
116
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
PARTICULARS
(`. in Lakhs)
YEAR ENDED
31ST MARCH, 2013
YEAR ENDED
31ST MARCH, 2012
INCOME
1
340.73
167.40
RECOVERY OF UTILITIES
215.46
200.73
OTHER RECOVERIES
18.62
6.18
4,788.12
4,272.51
5,362.93
4,646.82
TOTAL
EXPENDITURE
1
705.90
959.66
47.20
35.64
158.43
139.79
1,395.48
946.54
DEPRECIATION
683.08
664.53
1,098.10
922.92
LAND RENT
16.08
17.75
WELFARE - SCHOOL
639.85
201.71
181.84
168.91
10
10.93
4.46
11
202.19
353.83
12
HORTICULTURE EXPENSES
223.85
231.08
5,362.93
4,646.82
TOTAL
117
(Naina A. Kumar)
Principal Director of Commercial Audit
& Ex-Officio Member, Audit Board - II,
New Delhi
118
Consolidated
Financial
Statement
Other Matters
6. We did not audit the financial statements of subsidiaries, namely, GAIL
Global (Singapore) Pte. Ltd., GAIL Global (USA) Inc., Bramhaputra
Cracker & Polymers Ltd. and GAIL Gas Ltd., whose financial statements
reflect total assets of ` 8,362.77 crores as at March 31, 2013, total
revenue of ` 1,019.28 crores and net cash flows of ` 65.46 crores for the
year ended on that date. These financial statements have been audited
by other auditors whose reports have been furnished to us and our
opinion, in so far as it relates to the amount included in respect of the
subsidiaries, is based solely on the reports of the other auditors.
7. We did not audit the financial statements of associates, namely, Fayum
Gas, Gujarat State Energy Generation, Natural Gas Company
"NATGAS" and China Gas Holding Limited. These financial statements
have been audited by other auditors, except for Gujarat State Energy
Generation and China Gas Holding Ltd. whose financial statements are
unaudited. In the case of audited financial statements, the reports or
certificate have been furnished to us. Our opinion, in so far as it relates
to the amount included in respect of these associates, is based solely
on the reports of the other auditors and unaudited financial
statements, as the case may be.
8. In respect of GAIL Global (USA) Inc., Fayum Gas and NATGAS, the
Accounts drawn up as at December 31, 2012 and in respect of China Gas
Holding Limited, the Accounts drawn up to September 30, 2012, have
been used in the consolidation. As per information and explanations
given to us, no significant transactions or other events occurred
between the reporting date of aforesaid entities and 31st March, 2013,
which require adjustment.
9. We did not audit the financial statements of Joint Ventures, whose
financial statement reflect total assets of ` 44,019.12 crores, total
liabilities of ` 44,019.12 crores as at March 31, 2013 and total revenue of
` 39,431.73 crores, total expenditure of ` 36,995.70 crores for the year
ended on that date. Our opinion, in so far as it relates to the amount
included in respect of these joint ventures, is based on the unaudited
Financial Statements except for Petronet LNG Ltd. & Green Gas
Limited whose audited financial statements reflects total assets of
` 11,235.55 crores, total liabilities of ` 11,235.55 crores as at March 31,
2013 and total revenue of ` 31,679.95 crores, total expenditure of
` 29,928.44 crores for the year ended on 31st March 2013.
10.We report that the consolidated financial statements have been
prepared by the Company's management in accordance with the
requirements of Accounting Standard (AS) 21, viz, "Consolidated
Financial Statements" Accounting Standard (AS) 23, viz "Accounting
for Investments in Associates in Consolidated Financial Statements"
and Accounting Standard (AS) 27, viz "Financial Reporting of Interests
in Joint Ventures", as notified under Companies Accounting Standards
Rules, 2006.
Our opinion is not qualified in respect of other matters.
For M.L.Puri& Co.
Chartered Accountants
Firm No.: 002312N
Navin Bansal
(Partner)
Membership No.:91922
Sandeep Gupta
(Partner)
Membership No.:413890
120
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
1,268.48
1,268.48
Share Capital
b)
27,526.18
24,914.53
1,456.62
23,646.05
28,794.66
981.99
13,168.36
9,340.96
47
2,426.49
1,864.99
c)
749.84
311.79
d)
Long-term Provisions
368.32
346.22
16,713.01
11,863.96
b) Trade Payables
2,332.70
1,512.31
3,418.77
2,679.96
c)
5,413.44
4,657.99
d)
Short-term Provisions
1,657.35
1,260.81
12,822.26
TOTAL
10,111.07
59,786.55
47,871.55
23,567.99
19,846.06
II. ASSETS
(1) Non-current assets
a)
Fixed Assets
(i)
Tangible Assets
10
10
735.41
311.20
11
18,376.08
14,704.52
42,679.48
34,861.78
Non-current Investments
12
999.93
1,034.53
13
4,243.34
3,121.30
d)
14
684.98
302.79
48,607.73
39,320.40
b)
121
( `. in Crores)
Note
NO.
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
253.59
148.90
Current Investments
15
b) Inventories
16
1,897.78
1,725.65
c)
17
2,767.23
2,269.13
Trade receivables
18
3,064.62
1,446.22
e)
19
3,104.39
2,745.85
f)
20
91.21
TOTAL
215.40
11,178.82
8,551.15
59,786.55
47,871.55
P.K.Jain
Director(Finance)
R. D. Goyal
Director (Projects)
B. C. Tripathi
Chairman & Managing Director
Navin Bansal
(Partner)
Membership No. 91922
Sandeep Gupta
(Partner)
Membership No. 413890
122
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
Consolidated Statement of Profit & Loss for the year ended 31st March, 2013
( `. in Crores )
Note
NO.
I.
YEAR ENDED
31ST MARCH, 2013
21
51,939.58
22
(678.91)
51,094.43
44,903.86
(845.15)
YEAR ENDED
31ST MARCH, 2012
44,224.95
829.28
698.37
51,923.71
44,923.32
IV. Expenses
Raw Material consumed
3,055.47
2,797.76
35,022.49
Purchase
29,304.73
890.54
392.78
(948.33)
(890.54)
(57.79)
(497.76)
23
851.40
698.12
Finance Cost
24
437.31
366.43
1,040.59
25
1,318.68
Other Expenses
26
4,738.30
4,858.61
45,365.86
6,557.85
38,568.48
6,354.84
1,720.29
1,681.35
(33.17)
122.33
Total Expenses
V. Profit before Tax
VI. Tax Expenses
1.
Current Tax
-
2.
Current Year
Earlier Year
Deferred Tax
554.06
150.33
2,241.18
1,954.01
4,316.67
4,400.83
50.66
42.78
(6.27)
4,373.60
4,443.61
34.48
35.03
34.48
35.03
27
28
P.K.Jain
Director(Finance)
123
R. D. Goyal
Director (Projects)
B. C. Tripathi
Chairman & Managing Director
Navin Bansal
(Partner)
Membership No. 91922
Sandeep Gupta
(Partner)
Membership No. 413890
Notes to Consolidated Financial Statements for the year ended 31st March, 2013
Note 1 : Share Capital
( `. in Crores)
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
AUTHORISED
200,00,00,000 (Previous Year : 200,00,00,000)
2,000.00
2,000.00
1,268.48
1,268.48
1,268.48
1,268.48
% Holding
Numbers
% Holding
727,405,675
95,124,727
57.34%
727,405,675
57.34%
7.49%
91,927,049
7.25%
b) The Company has only one class of equity shares having a par value Rs.10/- per share. The holders of the equity shares are entitled to receive dividends as
declared from time to time and are entitled to voting rights proportionate to their share holding at the shareholders meetings.
c) 132,98,622 shares are held in the form of Global Dipository Receipts
d) During the year 2008-09, the company had issued 42,28,25,800 Bonus Equity shares of `. 10/- each out of General Reserve.
124
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
( `. in Crores )
1,503.54
1,098.31
(0.11)
2,601.74
14.70
173.64
54.57
(55.00)
AS AT
31ST MARCH, 2012
885.99
617.66
(0.11)
17.87
(17.87)
13.13
-
2,919.72
431.45
(174.63)
1.35
2,598.32
17.87
392.53
(89.00)
3176.54
25.98
2919.72
13.88
19,019.22
4,373.60
(9.02)
16,229.93
4,443.61
(3.27)
507.39
710.35
203.03
(55.00)
54.57
13.13
431.45
TOTAL
125
13.13
173.64
2.00
197.71
30.93
(55.00)
173.21
CSR Reserve
As per Last Financial Statements
Add : Transferred from statement of Profit & Loss
Less : Transferred to statement of Profit & Loss
1,503.54
14.70
380.54
723.03
179.02
(55.00)
30.93
392.53
21518.88
27,526.18
19019.22
23,646.05
( `. in Crores )
AS AT
31st March 2013
Current Maturities
AS AT
31st March 2012
AS AT
31st March 2013
AS AT
31st March 2012
SECURED
(a)BONDS
Bonds Series - I
200.00
300.00
100.00
100.00
120.00
120.00
120.00
500.00
500.00
750.00
126
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
( `. in Crores )
Non-current Portion
AS AT
31st March 2013
AS AT
31st March 2012
Current Maturities
AS AT
31st March 2013
AS AT
31st March 2012
675.00
375.00
358.50
596.00
237.50
237.50
996.25
675.00
168.75
- From Banks
3,079.59
2,885.67
136.72
116.23
- From Others
1603.20
1560.73
106.06
78.63
8,162.54
7,012.40
869.03
652.36
(Secured by way of first pari-passu charge on all the movable fixed assets,
including whole pipeline, spur lines, plant & machinery, spares, equipments,
tools & accessories and other movables both present and future, whether
now lying loose or in cases or which are now lying or stored in or whether in the
course of transit or on high seas, of the Dahej - Vijaypur Phase-II Pipeline
project of the Borrower) excluding the plant & Machinery of compresor
station at Jhabua and Vijaipur ) Repayable within a period of 12 years from the
date of first disbursement by equal half yearly instalments starting 6 months
after the completion of 2 years moratorium period from 05.05.2013.
Oil Industry Development Board
(Secured by way of first charge on whole pipeline, spur lines, plant &
machinery, spares, equipments, tools & accessories and other movables both
present & Future, whether installed or not and whether now lying loose or in
cases or which are now lying or stored in or about or shall hereinafter from
time to time during the continuance of the security of these presents be
brought into or upon or be stored or be in or about the Borrower's project of
Chainsa-Jhajjar-Hissar Pipeline including spur lines or wherever else the same
may be or be held by any party to the order or disposition of the borrower or in
the course of transit or on high seas or on order or delivery, howsoever or
wheresoever in the possion of borrwer and either by way of substitution or
addition).
Repayable in four equal instalments after expiary of moratorium of one year
from the date of disbursement. Loan disbursed in installment from July 2009
to March 2011 with rate of interest from 6.74% to 8.31% p.a. depending on
date of disbursement.
127
( `. in Crores )
Non-current Portion
AS AT
31st March 2013
Current Maturities
AS AT
31st March 2012
AS AT
31st March 2013
AS AT
31st March 2012
UNSECURED
(a) TERM LOANS
From Banks :
549.90
516.30
824.85
774.45
549.90
516.30
549.90
516.30
189.34
31.85
1,649.70
347.44
40.88
5.21
29.50
5,005.82
2,328.56
102.23
13,168.36
9,340.96
971.26
652.36
(1/3 rd repayment at the end of the 4th, 5th & 6th year from the last date of drawl
i.e Dec 2015, Dec 2016 & Dec 2017) Loan carries floating rate of interest linked
to 6 Months LIBOR plus spread.
- Bank of Tokyo Mitsubishi UFJ Ltd.
(Bullet repayment at the end of the 5th year from the last date of
'drawl i.e Aug'2016. Loan carries floating rate of interest linked to 6 Months
LIBOR. plus spread)
- Mizuho Corporate Bank
(1/3 rd repayment at the end of the 4th, 5th & 6th year from the last date
of drawl i.e Jan 2016, Jan 2017 & Jan 2018) Loan carries floating rate of interest
linked to 6 Months LIBOR plus spread).
- Sumitomo Mitsui Banking Corporations
(1/3 rd repayment at the end of the 4th, 5th & 6th year from the last date
of drawl i.e Feb 2016, Feb 2017 & Feb 2018) Loan carries floating rate of interest
linked to 6 Months LIBOR plus spread).
-Japan bank for International Co-operation(JBIC)
Repayable in 20 half yearly equal Instalments starting from June'2013
- Sumitomo Bank
(1/2 repayment at the end of the 5th & 6th year from the last date
of drawl i.e Nov 2017, Nov 2018) Loan carries floating rate of interest
linked to 6 Months LIBOR plus spread).
- Society General
(Repayment in 20 half yearly equal Instalments starting from 22nd October
2012)
(b) Others
- Sales Tax Deferred
4.89
- Other Unsecured
339.90
Total
128
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
( `. in Crores )
AS AT
31ST MARCH, 2013
Trade Payable
AS AT
31ST MARCH, 2012
4.10
584.47
4.38
234.01
Others :
Liability for Abandonment Cost (E&P)
1.13
1.13
160.14
72.27
749.84
311.79
TOTAL
( `. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
363.36
4.96
Other Provisions
TOTAL
341.62
4.60
368.32
346.22
( `. in Crores )
AS AT
ST
31 MARCH, 2013
Unsecured Loans
AS AT
ST
31 MARCH, 2012
2,332.70
TOTAL
1,512.31
2,332.70
1,512.31
( `. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
Trade Payables
2,679.96
[Includes Rs. 25.77 Cr. (Previous Year : Rs. 47.06 Cr.) Payable to JV Consortium]
TOTAL
129
3,418.77
3,418.77
2,679.967
( `. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
869.03
(ii) UNSECURED
652.36
102.23
128.39
45.09
3.47
3.23
189.72
154.43
815.47
786.21
598.89
818.83
60.28
31.67
2,645.96
TOTAL
2,166.17
5,413.44
4,657.99
( `. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
274.92
23.15
Others :
Provision for Proposed Dividend
710.35
723.03
120.72
117.29
332.74
225.80
Other Provisons
218.62
171.54
1,657.35
1,260.81
TOTAL
130
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
( `. in Crores )
DEPRECIATION
Sales/
Additions/
As at
Adjustments Adjustments
during the 31.03.2013
during the
year
year
As at
01.04.2012
NET BLOCK
Adjustments
during the
year
For the
Year ##
As at
31.03.2013
As on
31.03.2013
As on
31.03.2012
Tangible Assets
Land
: Freehold
155.58
29.37
184.95
184.95
155.58
374.64
69.52
4.07
440.09
30.99
10.40
0.38
41.01
399.08
343.65
641.36
115.11
1.77
754.70
176.14
20.76
0.06
196.84
557.86
465.22
331.71
36.71
0.61
367.81
75.51
6.24
1.92
79.83
287.98
256.20
11.75
(0.41)
0.66
10.68
0.60
0.09
0.02
0.67
10.01
11.15
Electrical Installations
1.41
2.07
(0.55)
4.03
0.38
0.22
0.60
3.43
1.03
Bunk Houses
2.16
0.56
0.26
2.46
1.80
0.24
0.20
1.84
0.62
0.36
28,851.50
4,421.06
1,161.53
(13.84)
5.47
5.47
5.17
5.17
0.30
0.30
Communication Systems
6.75
0.69
0.27
7.17
4.21
0.61
0.28
4.54
2.63
2.54
220.95
29.81
2.36
248.40
92.67
12.41
6.72
98.36
150.04
128.28
other Equipments
190.35
33.88
4.90
219.33
93.99
15.88
4.80
105.07
114.26
96.36
Office Equipments
202.35
16.62
5.35
213.62
106.71
19.04
5.37
120.38
93.24
95.64
Vehicles
0.76
0.41
0.05
1.12
0.33
0.08
0.07
0.34
0.78
0.43
Transport Equipments
2.50
0.18
0.04
2.64
2.07
0.09
0.04
2.12
0.52
0.43
301.55
383.55
(22.33)
707.43
7.10
75.00
(1.54)
83.64
623.79
294.45
1.65
1.65
0.55
0.09
0.64
1.01
1.10
102.25
(69.63)
(6.22)
38.84
38.84
102.25
265.93
430.17
696.10
696.10
265.93
98.57
5.25
0.02
103.80
53.30
11.22
0.03
64.49
39.31
45.27
Total
31,769.19
5,504.92
29.39 37,244.72
11,611.93
1,333.90
4.51
5,462.56
621.22
(11.97)
6,095.75
1,162.92
350.32
13.44
Previous Year
26,605.14
5,284.40
120.35
31,769.19 10,642.94
1,055.67
86.68
11,611.93
20,157.26 15,962.20
4,460.76
973.21
(28.59)
5,462.56
264.18
3.39
1,162.92
4,299.64
Leasehold
Building : Office/Others
Residential
Roads and Fences
Electrical Equipments
E&P Assets
Proved / Producing Property
Support Equipment & Facility
Unproved Leasehold Cost
Intangible Assets
Right of Use **
Softwares / Licences / Others
902.13
3,558.63
## Depreciation for the Financial Year includes Impairment Loss of ` 0.39 Crores ( ` 0.38 Crores for Plant & Machinery and Rs 0.01 Crores for Electrical Equipments)
** Right of use for laying pipelines is a perpetual right of use of Land but does not bestow upon the company, the ownership of Land and hence, treated as intangible assets.
131
( `. in Crores )
AS AT
31ST MARCH, 2013
1,167.45
(11.57)
Compressor Stations
AS AT
31ST MARCH, 2012
3,933.19
1,155.88
(25.11)
3,908.08
736.41
731.72
1.42
17.58
23.90
5.22
1.90
Petrochemicals
4,077.14
1,491.01
Telecom Project
0.43
0.26
684.11
485.80
7,284.53
5,358.84
Telecom/Telesupervisory System
LPG Pipeline Project
LPG Projects
Others
Engineering / Project construction
Exploratory & Development Well in Progress
693.61
514.76
693.61
(53.57)
182.94
Buildings
84.91
(0.25)
TOTAL
187.32
33.78
84.91
3,451.05
461.19
33.78
2,022.66
3,450.80
18,376.08
(0.84)
2,021.82
14,704.52
132
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
( `. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
1. Trade Investments
Quoted
Investments in Equity Instruments :(i) In Associate Company
15,00,00,000 (Previous Year : 21,00,00,000) Equity Shares of
HK$ 0.01/- each fully paid up in China Gas Holding Ltd., China;
acquired at a premium of HK$ 1.148 / share
37.03
51.84
Add: Goodwill
60.34
84.48
139.73
123.35
(16.48)
(10.44)
220.62
249.23
21.21
21.21
Add: Goodwill
62.41
62.41
86.55
75.50
170.17
159.12
0.86
0.86
556.29
556.29
(ii) Others
570,600 (Previous Year : 570,600) Equity Shares of `.10/-each fully
Paid-up in Gujarat Industries Power Co. Ltd.(includes 1,90,200 Equity
Shares acquired during the year 1996-97 at a premium of `.15/- per share)
205601068 (Previous Year : 205601068) Equity Shares of `.5/-each
fully paid up in ONGC Ltd. (Acquired 3,42,66,845 shares of `.10/-each during
1999-2000 at a price of `.162.34 per Share,1,71,33,422 bonus shares of `.10/- each
received during 2006-07. During the year 2010-11, 5,14,00,267 Equity shares of `.10/each were splitted into Equity shares of `.5/- each and bonus issue
of 1:1 equity shares of `. 5/- each after split received during 2010-11)
Unquoted
(i) In Associate Companies
2,07,60,000 ( Previous Year : 2,07,60,000) Equity Shares of
`.10/- each fully paid-up in Gujrat State Energy Generation Ltd.
Add: Share of Profit
Less: Dividend received
20.76
20.76
9.82
20.89
(2.90)
(2.90)
27.68
38.75
4.59
4.59
Add: Goodwill
3.50
3.50
9.61
10.55
(10.92)
(10.92)
6.78
133
7.72
( `. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
ii).
iii). 400 Shares (Previous Year : 400) of `.10 each fully paid up in Sanand
Members Association,Ahmedabad.
0.04
0.04
v). 8347 Equity shares (Previous Year: 8347 Eq Shares) of USD 1/- each
fully paid up in South East Asia Gas Pipeline Ltd. registered in Hongkong.
3. Other Investment (Other Non-Current)
Other Investment / Investment by Group companies
17.49
22.52
999.93
TOTAL
1,034.53
( `. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
1,518.22
873.97
1.55
1.55
1,519.77
875.52
(1.55)
(1.55)
1,518.22
873.97
137.33
166.57
105.70
100.63
279.14
230.94
57.85
68.57
1,221.67
56.74
1,278.41
(56.74)
3,388.27
(3,131.36)
1,221.67
1,177.33
43.24
1,220.57
(43.24)
1,177.33
256.91
3,413.80
(3,157.05)
256.75
666.52
4,243.34
246.54
3,121.30
134
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
( `. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
666.65
460.20
472.58
1,126.85
275.24
747.82
(460.20)
(472.58)
666.65
275.24
4.69
17.29
Others
Deposit with various parties
Other Non current assets
13.64
10.26
684.98
TOTAL
302.79
( `. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
9.59
71.21
14.81
HK$ 0.01/- each fully paid up in China Gas Holding Ltd., China;
acquired at a premium of HK$ 1.148 / share
Add: Goodwill
24.14
35.24
(2.98)
182.38
TOTAL
135
139.31
253.59
148.90
Note 16 : Inventories
( `. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
947.98
890.49
Raw Material
79.30
73.72
50.80
17.17
0.81
0.60
840.97
770.88
(22.08)
(27.21)
818.89
743.67
1,897.78
TOTAL
1,725.65
( `. in Crores )
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
0.04
51.45
2.05
48.04
53.54
26.97
75.01
Other receivables
-
11.14
2.37
2,704.60
2,218.72
15.41
2,715.74
TOTAL
2,311.51
(2.05)
2,236.50
2,769.28
(42.38)
2,767.23
2,269.13
136
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
( `. in Crores)
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
290.40
263.75
3.47
311.90
571.75
783.84
60.75
32.03
25.78
3.23
2,106.17
47.06
3.37
Cash in hand
2.93
1,441.81
3.01
1.40
6.30
3,064.62
TOTAL
4.41
1,446.22
( `. in Crores)
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
38.81
33.31
1,179.54
0.97
1,180.56
Less : Provision for Doubtful Advances
1,226.44
1.02
1,227.41
(1.02)
(0.97)
1,179.54
1,226.44
Claims Recoverable
- Unsecured, Considered Good
Unsecured, Considered Doubtful
126.02
2.33
128.35
108.91
3.72
112.63
(2.33)
126.02
(3.72)
108.91
1,759.17
1,375.86
2.23
1.01
1,761.40
Less : Provision for doubtful deposits
(2.23)
1,376.87
1,759.17
(1.01)
1,375.86
0.85
TOTAL
137
1.33
3,104.39
2,745.85
( `. in Crores)
AS AT
31ST MARCH, 2013
AS AT
31ST MARCH, 2012
32.78
11.55
Others
58.43
203.85
91.21
215.40
TOTAL
( `. in Crores)
YEAR ENDED
31ST MARCH, 2013
50,329.78
42,793.42
1,403.90
YEAR ENDED
31ST MARCH, 2012
1,939.32
b) Sale of Services
LPG Transmission / RLNG Shippers Charges
c) Income from Telecom
4.18
44,903.86
(845.15)
(678.91)
51,094.43
TOTAL
167.13
51,939.58
Less : Excise Duty
3.99
201.72
44,224.95
( `. in Crores)
YEAR ENDED
31ST MARCH, 2013
403.56
YEAR ENDED
31ST MARCH, 2012
275.65
Interest on :
- Bonds / Debentures (Long term trade investment)
0.30
0.67
178.78
126.47
- Others
112.56
78.45
291.64
205.59
(59.52)
(29.89)
202.36
232.12
175.70
248.86
(8.76)
TOTAL
193.60
829.28
(1.84)
247.02
698.37
138
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
(`. in Crores)
YEAR ENDED
31ST MARCH, 2013
YEAR ENDED
31ST MARCH, 2012
715.18
593.05
126.72
88.11
Welfare Expenses
135.45
123.58
1.86
1.69
979.21
806.43
127.81
108.31
851.40
698.12
Secondment charges
TOTAL
Less : Employees Benefit Expenses transferred to Capital Work-in-Progress
(refer note no. 27)
TOTAL
(`. in Crores)
YEAR ENDED
31ST MARCH, 2013
YEAR ENDED
31ST MARCH, 2012
853.14
570.57
- Bonds
133.81
92.00
- Others
6.67
17.88
83.20
55.27
40.10
1,076.82
775.82
639.51
TOTAL
409.39
437.31
366.43
(`. in Crores)
YEAR ENDED
31ST MARCH, 2013
1,333.51
Impairment Loss
YEAR ENDED
31ST MARCH, 2012
1,053.55
0.39
1,055.67
15.22
2.12
1,333.90
15.08
1,318.68
1,040.59
139
(`. in Crores)
YEAR ENDED
31ST MARCH, 2013
YEAR ENDED
31ST MARCH, 2012
716.66
1,012.43
1,036.70
892.88
1,753.36
1,905.31
734.86
589.69
314.69
281.56
Rent
39.09
33.11
102.31
99.05
1.95
1.03
343.55
318.59
27.11
21.44
26.96
397.62
32.82
372.85
Insurance
33.53
35.49
Communication Expenses
10.02
9.65
4.16
4.07
99.91
96.25
0.58
0.55
35.22
25.38
0.67
0.65
0.08
0.06
Management Services
0.16
0.31
Entertainment Expenses
1.22
0.16
1.08
0.87
0.21
19.59
14.32
35.62
29.37
29.00
0.80
0.41
1.76
CNG Transportation
CNG Dispensing Charges
Lease Charges
2.67
20.31
16.86
7.75
(53.57)
71.24
137.60
1.77
81.65
Survey Expenses
152.31
84.03
152.31
4.76
10.39
29.48
9.38
140
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
(`. in Crores)
YEAR ENDED
31ST MARCH, 2013
Consultancy Charges
YEAR ENDED
31ST MARCH, 2012
35.08
50.53
6.16
10.77
6.82
3.48
Donation
0.03
0.03
12.91
1.19
Directors fees
0.04
0.05
10.87
7.89
0.87
0.29
69.31
474.39
134.95
207.37
8.81
1.33
3.47
2.73
25.34
21.98
Discount on Sales
120.71
131.77
Commission on Sales
15.51
16.52
Dealers' Commission
6.75
4.69
Security Expenses
84.86
71.86
64.71
54.43
(12.66)
17.38
Other Expenses
340.90
179.25
261.02
0.40
5,038.66
5,024.27
300.36
165.66
4,738.30
4,858.61
141
(`. in Crores)
YEAR ENDED
31ST MARCH, 2013
YEAR ENDED
31ST MARCH, 2012
90.01
7.67
11.30
Welfare Expenses
9.42
127.81
7.00
108.31
2.87
2.28
0.13
0.12
7.17
4.13
Rent
Rates and Taxes
10.36
1.51
0.12
0.03
0.07
0.19
1.19
0.61
Insurance
8.95
15.69
Communication Expenses
0.96
1.02
0.24
14.46
12.33
Travelling Expenses
Books and Periodicals
0.04
0.01
0.37
0.24
Payment to Auditors
0.17
0.01
Entertainment Expenses
0.53
0.40
0.82
1.36
3.64
3.45
2.17
1.78
0.07
0.03
246.03
120.47
Other Expenses
Depreciation
15.22
Interest Income
Misc. Income
Sales
409.39
1,082.90
Less : -
15.08
639.51
698.44
59.52
29.89
8.76
-
Net Expenditure
1.84
68.28
1,014.62
31.73
666.71
127.81
108.31
639.51
409.39
c) Depreciation
15.22
15.08
d) Other Expenses
300.36
165.66
e) Other Income
(68.28)
1,014.62
NIL
(31.73)
666.71
NIL
142
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
(`. in Crores)
YEAR ENDED
31ST MARCH, 2013
YEAR ENDED
31ST MARCH, 2012
Purchase of Gas
(0.16)
(1.05)
(0.29)
(1.37)
209.41
0.02
(0.26)
0.25
0.91
36.63
Consultancy Charges
0.47
0.37
(1.74)
0.01
2.68
261.28
TOTAL
0.01
15.06
Other Expenses
(0.33)
Less :
-
Sales
(5.00)
Interest Income
Miscellaneous Income
0.26
TOTAL(NET)
143
0.26
261.02
4.27
(0.73)
0.40
29 (A)
BASIS OF PREPARATION
v.
vi.
PRINCIPLES OF CONSOLIDATION
ii.
iii.
ix.
x.
xi.
(B)
i.
(C)
144
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
30. The Consolidated Financial Statements represent consolidation of accounts of the Company (GAIL India Limited), its subsidiaries, joint venture
companies and associates as detailed below:
Name of Company
Country of Relation
Incorporation
Proportion of
ownership
interest as on
31.03.2013
Name of Company
Country of Relation
Incorporation
Proportion of
ownership
interest as on
31.03.2013
Singapore
Subsidiary
100%
India
Joint Venture
22.50%
USA
Subsidiary
100%
Subsidiary
70.00%
India
Joint Venture
32.88%
Joint Venture
29.00%
ONGC Petro-additions
Limited (OPaL)
India
Joint Venture
15.50%
Bermuda
Joint Venture
50.00%
Fayum Gas
Egypt
Associate
19.00%
India
Associate
5.96%
Egypt
Associate
15.00%
Bermuda
Associate
4.60%
India
Subsidiary
100%
India
Joint Venture
49.75%
India
Joint Venture
22.50%
India
Joint Venture
12.50%
India
Joint Venture
22.50%
India
Joint Venture
25.00%
India
Joint Venture
22.50%
India
Joint Venture
22.50%
31.
In view of different sets of environment in which the subsidiaries/Joint Ventures are operating, the accounting policies followed by the subsidiaries/ Joint
Ventures are different from the accounting policies of the Company in respect of the following. Such different accounting policies have been adopted in
respect of the following:
Particulars
Accounting Policies
Proportion of GAIL's
share (Gross Amount)
(Rs. in Crores)
Inventories
Valuation of
Stores and
spares
18.62
Valued at cost
0.56
3.07
Depreciation
Software /
Licences
All Assets
1.91
Employee
Benefits
145
Implementation of AS-15 is
un-ascertained
Not Quantifiable
Particulars
Prepaid
expenses &
Prior period
expenses /
income
Accounting Policies
Proportion of GAIL's
share (Gross Amount)
(Rs. in Crores)
Capital
commitment
Not Quantifiable
Not Quantifiable
Not Quantifiable
Not Quantifiable
Not Quantifiable
Not Quantifiable
The effect of above differential accounting policies could not be quantify on Statement of profit & Loss.
Contingent Liability ;
(a). C l a i m s a g a i n s t t h e C o m p a n y n o t
acknowledged as debts: Rs 6,016.13 Crores
(Previous Year: Rs 6,127.43 Crores), which
mainly include:(i)
(ii)
Commitments:
(a)
(ii)
146
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
147
II.
G ove r n m e n t g ra n t s by wa y o f
contribution towards capital should be
credited to Capital Reserves as per
conditions attached to such grants.
b) The company has received a directive
from its administrative ministry MoCF
vide letter no. 45013/1/2005-PC-I
(Part) dated 15.02.2012 that the
interest earned on capital subsidy is
not the income of BCPL and the same
shall be added back to capital subsidy.
As such interest income (net of taxes)
of Rs 16.57 Crores (Previous Year: Rs
7.13 Crores) has been added back to
capital subsidy.
c) Leasehold Land of Rs 81.84 Crores
comprises land for which lease deed
has been executed for a period of 30
years. As the title to the land rest on the
Govt of Assam, the same will amortised
over the said period. Such land has been
reflected as a tangible assets.
d) The company has acquired the "Right of
Use" (ROU) for the purpose of laying
and maintenance of the underground
pipeline for receiving and supplying of
Gas is shown under Intangible Assets.
Perpetual Right of use of Rs 7.56
Crores (Previous Year: Rs 7.56 Crores)
acquired by the company, but does not
bestow upon the company the
ownership of land and thus no
amortization has been provided on the
same. However cost of Right of use
(limited useful life) for having useful
life of 10 years is being amortized over
the life of ROU.
e) In view of time and cost overrun, the
company has revised the project cost
from initially Rs 5460.61 Crores to Rs
8920 Crores and consequently, the
schedule of completion from April
2012 to December 2013. The Ministry of
Chemicals and Fertilizer, Govt of India,
has communicated approval of CCEA
vide its letter no F.No. 45012/23/10-PCI dated 2nd December 2011.
f) Though the company is in construction
stage and no commercial activity have
been started to date, keeping in view
the requirement of revised schedule VI
and Companies Act 1956, and in line
with the change in accounting policy in
148
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
During the year the company has changed its Accounting Policy in
respect of treatment of Gain or Loss on account of foreign
exchange difference from adjusting with cost of assets to
accounting under "Statement of Profit & Loss" with retrospective
effect. As a result net foreign exchange loss of Rs 3.16 Crores up to
31.03.2012 (Prior period adjustment) and Rs 17.00 Crores for the
year 2012-13 has been reduced from total "Capital Work in
progress" as on 31.03.2013 with corresponding debit to
"Statement of Profit & Loss".
Previous Year
Receivables as at 31.03.2013
III.
149
Refund Claimed
(Rs in Crores)
2.77
1.85
1.10
1.43
7.15
The final disposal of the case by ITAT / CIT (Appeal), the net
interest income from parking on capital subsidy up to FY 2012-13
has been considered to form part of capital subsidy.
2012-13
2011-12
Rs 0.50 Crores
NIL
NIL
NIL
NIL
NIL
Rs 0.50 Crores
NIL
TOTAL
NIL
NIL
NIL
NIL
2012-13
i)
2011-12
1 year
ii)
2012-13
total liabilities of Rs. 9483.82 Cr. ( Previous Year : Rs. 8705.51 Cr.) and
Total Income of Rs. 6381.26 Cr ( Previous Year : Rs. 5890.73 Cr.) and
total expenditure of Rs. 5922.44 Cr. ( Previous Year : Rs. 4900.50 Cr.).
40. Unaudited financial statements of an associate - Gujarat State
Energy Generation (GSEG) and China Gas Holding Limited, have been
included in consolidation in absence of the audited financial
statements. Total Share of Profit included in the Consolidated
Financial Statements is Rs. 40.55 Crores (Previous Year: Rs. 32.44
Crores).
41. Due to short participation by the other joint venture partners there is
difference between the % of ownership as per Joint Venture
Agreement and actual % of Share capital currently held by the
Company i.e. GAIL (INDIA) LIMITED. The management is of the
opinion that it is a temporary phase and other joint venture partner
will contribute the balance contribution in the share capital of joint
venture as per the joint venture agreement. Hence, GAIL (INDIA)
LIMITED ownership in the joint ventures are considered only to the
extent of % ownership mentioned in Joint Venture agreement.
Excess contribution in the Equity Share Capital of the various Joint
Ventures as on date, over and above the contractual % amounting to
Rs. 414.16 Crores {previous year Rs. 195.88 Cr.} is included in the
2011-12
one year
Rs 0.31 Crores
Rs 0.15 Crores
Rs 0.26 Crores
Rs 0.40 Crores
NIL
NIL
150
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
(ii)
151
Details of company's share of Production of Oil for Block No. CBONN-2000/1 during the year ended 31.03.2013.
Net Quantities of Company's interest in proved reserves and proved
developed reserves:
Current Year
Net Profit after tax used as
numerator - (Rs. crores)
Weighted average numbers of
equity shares used as
denominator
Previous Year
4,373.60
4,443.61
1,26,84,77,400 1,26,84,77,400
34.48
35.03
10.00
10.00
2011-12
5602.62
4114.59
NIL
NIL
127.65
108.55
2689.80
1885.62
262.83
251.08
95.85
4.35
2426.49
1864.99
the extent of Rs. 0.39 Cr. (Previous Year: Rs 2.12 Cr.) and same amount
has been recognized as impairment loss in statement of Profit & Loss.
50. (a) Following Government of India's approval, the shareholders of
the Company in the Annual General Meeting held on 15th September,
1997 approved the transfer of all the assets including Plant and
Machinery, accessories and other related assets which are part of
Lakwa Project to Assam Gas Cracker Complex at a price to be
determined by an independent Agency and on terms and stipulations
as the Board may in its discretion deem fit. The Cabinet committee on
Economic affairs (CCEA) has approved the setting up of Assam Gas
based cracker project at Lepetkata by formation of a company in
which GAIL has equity participation of 70%. A company by the name
of Brahmaputra Cracker and Polymer Limited has been incorporated
during 2006-07 and construction of Gas cracker complex is in
progress. Further, Public Investment Board (PIB) in meeting dated
Si Name of Block
No.
Participating Si
Interest
No.
Name
of Block
Participating
Interest
MN-OSN-2000/2
20%
15
KG-DWN-2004/1
10%
CB-ONN-2000/1
50%
16 KG-DWN-2004/2
10%
(Rs in Crores)
AA-ONN-2002/1
80%
17
KG-DWN-2004/3
10%
AA-ONN-2003/1
35%
18 KG-DWN-2004/5
10%
CB-ONN-2003/2
20%
19 KG-DWN-2004/6
10%
Income
8.25
7.31
40%
Expenses
12.77
AN-DWN-2003/2
15%
RJ-ONN-2004/1
22.225%
20
CY-ONN-2005/1
21 AN-DWN-2009/13
10%
KG-ONN-2004/2
40%
22 AN-DWN-2009/18
10%
CY-DWN-2004/1
10%
23 CB-ONN-2000/1RING FENCED
CONTRACT
50%
Particulars
Till 31st
March,2013
Till 31st
March, 2012
0.37
0.36
Other Assets
2.54
5.59
Current Liabilities
48.27
27.41
10 CY-DWN-2004/2
10%
24
CB-ONN-2010/11
25%
11
CY-DWN-2004/3
10%
25
AA-ONN-2010/2
20%
12 CY-DWN-2004/4
10%
26
GK-OSN-2010/1
10%
13 CY-PR-DWN2004/1
10%
27
GK-OSN-2010/2
10%
14 CY-PR-DWN
-2004/2
10%
28
CB-ONN-2010/8
25%
Participating
Interest
Date of
Relinquishment
GS-DWN-2000/2
15%
24.01.2007
MB-DWN-2000/2
15%
24.01.2007
KK-DWN-2000/2
15%
15.08.2004
13th July 2011 recommended that the issue of ownership of the Lakwa
facility may be decided by the Committee comprising of representative
Sl
Participating Interest
MN-OSN-97/3
15%
08.11.2007
NEC-OSN-97/1
50%
11.09.2007
AD-7, Myanmar
10%
28.02.2008
MN-ONN-2000/1
20%
10.11.2008
10.06.2010
25%
RM-CBM-2005/III
35%
11.05.2010
10
MR-CBM-2005/III
45%
11.05.2010
CY-ONN-2002/1
50%
28.03.2011
A-1,Myanmar*
8.5%
2.
A-3, Myanmar*
8.5%
11
12
TR-CBM-2005/III
35%
10.10.2011
3.
CY-OS/2
25%
13
MB-OSN-2004/1
20%
29.03.2012
14
MB-OSN-2004/2
20%
13.04.2012
(b) Further the Board in its 287th Meeting held on 06th April'2011 has
approved transfer of CNG stations and its associated pipeline in
Vadodara to proposed Joint Venture Company of GAIL Gas Ltd. and
Vadodra Municipal Seva Samiti at market value yet to be determined.
The transfer has not been effected during the financial year.
51. Jointly controlled Entity:
Particulars
(Rs in Crores)
Particulars
Income
Expenses
Fixed Assets (Gross block)
Producing Property
Other Assets
Current Liabilities
2012-13
86.57
83.13
223.69
286.47
6.42
5.77
7.10
1304.99
867.35
355.06
172.20
Qty
2011-12
Crude Oil
Production
Closing
(Treated &
Sales*
Stock
processed
crude)
Value Qty Value Qty
Value Qty
Value
Opening
stock
(MT)
Rs
Crores
(MT)
(MT)
Rs
Crores
(MT)
Rs
Crores
Year ended
31/03/13
646.20 0.64
21268.97
21325.92 87.57
589.25
0.41
Year ended
31/03/12
22673.46
0.64
515.11
0.34
152
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
Proved
2012-13
Reserves
Proved Developed
Reserves
2011-12
2012-13
2011-12
Oil : in 000'MT
Beginning of the year
175
90
175
90
Additions
12
107.67
107.67
Deletion
3.73
3.73
Production
21.27
22.67
21.27
22.67
162
175
150
175
6220
6220
Closing Balance
Gas : in Million M3
Beginning of the year
Additions
Deletion
Production
6220
6220
Closing Balance
(` in Crores)
Particulars
31.03.2013
31.03.2012
8,042.82
6,529.47
1,441.00
9,483.82
2,176.04
8,705.51
3,578.57
3,507.17
A. Assets
- Non-current / Long term
assets
- Current assets
Total
B. Liabilities
- Non-Current / Long term
liabilities
- Current Liabilities &
Provisions
Total
C. Contingent Liabilities
D. Capital Commitments
P. K. Jain
Director (Finance)
2,415.68
6,477.34
728.87
1,005.49
5,922.85
733.14
1,777.91
E. Income
F. Expenses
N. K. Nagpal
Secretary
2,898.77
Current Year
6,381.26
5,922.44
Previous Year
5,890.73
4,900.50
R. D. Goyal
Director (Projects)
B. C. Tripathi
Chairman & Managing Director
Navin Bansal
(Partner)
Membership No. 91922
Sandeep Gupta
(Partner)
Membership No. 413890
153
SEGMENTS
NATURAL
GAS
TRADING
**
TRANSMISSION
SERVICES**
PETROCHE
MICALS
NATURAL
GAS
LPG
Note -1
3,066.55
293.92 35,768.81
UNALLOCABLE
Note -3
Note -2
CITY
GAS
(Annexure - A)
(`. in Crores)
Note -4
TOTAL
ELIMINATION CONSOLIDATED
TOTAL
REVENUE
External Sales *
Intersegment sales
Total revenue
280.72
3,347.27
3,743.68
4,433.71
2,491.93
1,094.11
50,892.71
50,892.71
21.18
18.28
6,081.48
6,081.48
4,433.71
2,491.93
5,761.30
2 RESULTS
Segment Result(Profit
before Interest &Tax)
1,832.31
97.31
1,529.46
1,504.10
1,588.46
306.89
6,858.53
Unallocated expenses
507.91
507.91
507.91
1,832.31
97.31
1,529.46
1,504.10
1,588.46
306.89
(507.91)
6,350.62
6,350.62
Operating Profit
6,858.53
Interest Expenses
437.31
437.31
437.31
695.20
695.20
695.20
2,241.18
2,241.18
2,241.18
1,832.31
97.31
1,529.46
1,504.10
1,588.46
306.89
(2,491.20)
4,367.33
4,367.33
1,832.31
97.31
1,529.46
1,504.10
1,588.46
306.89
(2,491.20)
4,367.33
4,367.33
6.27
6.27
1,832.31
97.31
1,529.46
1,510.37 1,588.46
306.89 (2,491.20)
4,373.60
4,373.60
21,730.04
849.88
723.69
3,190.59
1,339.73
1,579.68
3,281.41 32,695.02
166.25
32,528.77
27,257.78
21,730.04
849.88
723.69
3,190.59
1,339.73
5,042.82
60.17
309.64
1,448.18
347.83
399.44
87.54
7,695.62
74.90
7,620.72
3,015.74
3,015.74
3,015.74
5,042.82
60.17
309.64
1,448.18
347.83
399.44
3,103.28
10,711.36
6.27
to Minority
Profit after Tax
(after adjustment for
Minority Interest)
3
OTHER INFORMATION
Segment Assets
Unallocated Assets
Total Assets
Segment Liabilities
Unallocated Liabilities
Total Liabilities
Cost to acquire fixed assets
Depreciation#
Non Cash expenses other
than Depreciation#
27,257.78
27,257.78
166.25 59,786.55
74.90 10,636.46
4,572.47
18.76
2.90
113.38
(43.60)
297.45
543.56
5,504.92
5,504.92
583.53
48.76
23.33
180.87
78.60
94.43
324.38
1,333.90
1,333.90
111.97
0.06
78.91
6.62
(0.09)
0.97
4.90
203.34
203.34
154
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
(Annexure - A)
(`. in Crores)
SL.
NO.
SEGMENTS
NATURAL
GAS
TRADING
**
PETROCHE
MICALS
Note -1
TRANSMISSION
SERVICES**
Note -2
CITY
GAS
UNALLOCABLE
Note -3
Note -4
2,037.98 44,057.82
NATURAL
GAS
LPG
3,564.31
454.21
30,141.39
3,377.53
3,090.24
1,392.16
288.10
4,332.16
37.87
3,415.40 3,090.24
1,392.16
TOTAL
ELIMINATION CONSOLIDATED
TOTAL
REVENUE
External Sales *
Intersegment sales
Total revenue
3,852.41
454.21 34,473.55
4,658.13
44,057.82
4,658.13
2 RESULTS
Segment Result
(Profit before Interest &Tax)
Unallocated expenses
2,153.86
272.01
1,282.68
1,465.80
554.43
379.92
6,108.70
6,108.70
(174.11)
(174.11)
(174.11)
2,153.86
272.01
1,282.68
1,465.80
554.43
379.92
174.11
6,282.81
6,282.81
Interest Expenses
366.43
366.43
366.43
481.24
481.24
481.24
1,954.01
1,954.01
1,954.01
2,153.86
272.01
1,282.68
1,465.80
554.43
379.92
(1,665.09)
4,443.61
4,443.61 ]
Operating Profit
2,153.86
272.01
1,282.68
1,465.80
554.43
379.92 (1,665.09)
4,443.61
4,443.61
16,776.36
912.60
706.38
3,406.29
1,199.94
1,330.55
3,548.19
27,880.31
153.31
27,727.00
20,150.04
20,150.04
20,150.04
16,776.36
912.60
706.38 3,406.29
1,199.94
3,570.07
118.63
256.51
1,022.28
414.60
353.73
(20.77)
5,715.05
84.86
5,630.19
2,979.71
2,979.71
2,979.71
3,570.07
118.63
256.51
1,022.28
414.60
353.73
2,958.94
8,694.76
84.86
8,609.90
3,411.55
13.79
0.43
217.72
120.81
398.71
1,121.39
5,284.40
5,284.40
Depreciation#
463.50
49.04
23.02
178.58
86.97
73.95
180.61
1,055.67
1,055.67
579.70
0.05
39.83
(4.61)
0.57
1.59
90.19
707.32
707.32
Net Profit/(Loss)
3
OTHER INFORMATION
Segment Assets
Unallocated Assets
Total Assets
Segment Liabilities
Unallocated Liabilities
Total Liabilities
153.31 47,877.04
155
(Annexure - B)
Relationship
A)
2)
3)
2)
Shri R. D. Goyal
3)
Shri S. L. Raina
Shri S. Venkatraman
6) Shri P. K. Jain
7)
Shri V. C. Chittoda
8) Shri M Ravindaran
9) Shri N K Agarwal
10) Shri M C Deogam
11) Shri K Chattraj
12) Shri P L Ahuja
13) Shri C. D. Joshi
14) Shri A K Mittal
15) Shri Pradeep Madan
16) Shri A K Jana
17) Shri J S Saini
C)
(Non-operator with participating interest: 50%, GAIL has relinquished from the Block)
2)
A-1, Myanmar
3)
A-3, Myanmar
5)
CY-OS/2
6) RM-CBM-2005/III
(Non-operator with participating interest: 35%, GAIL has relinquished from the Block)
7)
(Non-operator with participating interest: 35%, GAIL has relinquished from the Block)
TR-CBM-2005/III
8) MR-CBM-2005/III
(Non-operator with participating interest: 40%, GAIL has relinquished from the Block)
9) AD-7, Myanmar
(Non-operator with participating interest: 10%, GAIL has relinquished from the Block)
(Non-operator with participating interest: 25%, GAIL has relinquished from the Block)
156
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
II) The following transactions were carried out with the related parties in the ordinary course of business:
(`. in Crores)
A) Details relating to parties referred to in item no. I (A) above:
1)
Sales
2)
3)
Purchases
4)
5)
2012-13
2011-12
2,871.18
2,159.69
139.07
84.43
16,101.75
11,319.88
730.83
547.59
17.20
10.62
6)
16.50
5.98
7)
Dividend Income
117.43
77.50
8)
Other Income
0.42
0.45
9)
4.44
28.20
10)
(20.54)
(`. in Crores)
B)
Remuneration
Interest bearing outstanding loans receivable
Interest accrued on loans given
Self Lease
2012-13
2011-12
7.31
0.68
0.54
0.20
6.17
0.99
0.62
0.24
(`. in Crores)
II.
Relatives of KMP
1)
2)
3)
4)
Remuneration
Interest bearing outstanding loans receivable
Interest accrued on loans given
Self Lease
2012-13
0.34
-
2011-12
0.44
0.03
(`. in Crores)
2012-13
1)
2)
3)
Other assets
4)
5)
157
2011-12
0.75
(13.34)
231.27
316.40
(10.47)
28.73
4.28
Consolidated Cash Flow Statement for the Financial Year Ended 31st March, 2013
(`. in Crores)
2012-13
2011-12
6608.51
6397.62
2 ADD :
Depreciation
Deferred Revenue / Other Expenses written off
Capital Reserve
1370.53
1056.14
0.87
0.29
(0.11)
(0.11)
(12.66)
17.38
Interest Expenditure
437.31
366.43
(403.56)
(275.65)
Interest Income
(291.64)
(205.59)
273.51
53.04
(52.71)
361.89
Other Provisions
122.02
65.44
84.03
152.31
134.95
37.93
10.87
7.89
1673.41
1637.39
8281.92
8035.01
(1552.27)
(2456.28)
Inventories
(180.94)
(668.37)
1718.99
1707.12
(14.22)
5 Cash Generated from Operations (3+4)
(1417.53)
8267.70
(1506.17)
6543.52
6617.48
(1724.18)
5111.31
(8990.39)
(9848.16)
3.34
62.28
(70.09)
(47.81)
Interest Received
270.41
207.20
Dividend Received
403.56
275.65
(8383.17)
(9350.84)
(1839.65)
(4239.53)
158
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
(`. in Crores)
2012-13
BALANCE BROUGHT FORWARD
C
2011-12
(1839.65)
(4239.53)
5640.28
5092.65
(673.59)
(491.12)
Capital Subsidy
1098.31
(772.29)
(1429.78)
617.66
(993.52)
Interest Paid
(1253.23)
3641.70
3193.67
1802.05
(1045.86)
(183.65)
(92.27)
1446.22
2584.35
3064.62
1446.22
3064.62
1446.22
(OPENING BALANCE)
CASH AND CASH EQUIVALENTS AS AT 31.03.2013
(CLOSING BALANCE)
NOTES :
1 Cash & Cash Equivalents include :
Cash & Bank Balances
As per Balance Sheet
Unrealised ( Gain)/ loss on foreign Exchange
0.00
N. K. Nagpal
Secretary
P. K. Jain
Director (Finance)
R. D. Goyal
Director (Projects)
0.00
3064.62
1446.22
B. C. Tripathi
Chairman & Managing Director
Navin Bansal
(Partner)
Membership No. 91922
Sandeep Gupta
(Partner)
Membership No. 413890
159
Summary of financial
Information of
Subsidiary companies
SUBSIDIARY COMPANIES
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
( `. in Crores )
Particulars
As on 31.03.2013
a
Reserves
( `. in Crores )
Capital
BRAHMAPUTRA
CRACKER AND
POLYMER
LIMITED
GAIL GLOBAL
SINGAPORE PTE LTD.
( `. in Crores )*
254.35
1,057.95
11.55
2.10
198.97
36.00
32.48
3,692.79
52.24
9.50
15.97
2.89
Total Assets
595.02
6,928.64
121.09
22.02
732.66
132.56
Total Liabilities
595.02
6,928.64
121.09
22.02
732.66
132.56
Details of Investment
(except in case of investment
in the Subsidiaries)
104.87
19.07
Turnover
735.63
176.49
33.11
116.74
21.42
34.89
-20.91
4.90
0.92
21.64
3.97
7.88
7.36
1.35
27.01
-20.91
4.90
0.92
14.28
2.62
Proposed Dividend
Exchange Rate
US$ / INR
As on 31.03.2013*
As on 31.12.2012**
Average Rate for 2012-13*
Average Rate for 2012**
54.99
55.27
53.31
54.50
Note :
In view of exemption granted by the Central Government under Section 212 (8) of the companies Act, 1956, copies of the Balance Sheet, Statement of Profit and
Loss, Report of Directors and Auditors of the subsidiary are not attached to the Balance Sheet of the Company. The annual accounts of the subsidiary and the
related information will be made available to the holding company and subsidiary investors on request in writing. The same are also available with the Company
Secretary at the registered office of the company as well as at the registered office of the Subsidiary companies for inspection by any investor.
N.K.NAGPAL
Secretary
161
P.K.JAIN
Director (Finance)
R.D.GOYAL
Director (Projects)
B.C.TRIPATHI
Chairman & Managing Director
Business
Responsibility
Report
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
L40200DL1984GOI018976
Registered address
Website
http://www.gailonline.com
E-mail id
2012-2013
GAIL has pan India presence through a stream of businesses like Gas Marketing and
Transmission, LHC production, Gas imports etc. The major locations are listed as under:
LPG plants (7): Two plants at Vijaipur (M.P.), one each at Vaghodia (Gujarat), Lakwa
(Assam), Auraiya (U.P.), Gandhar (Gujarat) and Usar (Maharashtra)
Petrochemicals Plant at Pata (U.P.)
Compressor stations at Vijaipur, Khera, Jhabua & Kailaras (M.P.), Hazira, Vaghodia
(Gujarat) , Auraiya (U.P.), Chainsa (Haryana)
11 Zonal Marketing Offices at Delhi, Kolkata (W.B.), Chennai (T.N.), Bengaluru
(Karnataka), Bhopal (M.P.), Chandigarh (Haryana), Jaipur (Rajasthan), Hyderabad (A.P.),
Lucknow (U.P.), Mumbai (Maharashtra), Ahmedabad (Gujarat).
2 GAIL Training Institutes at Noida (U.P.) and Jaipur (Rajasthan)
10
163
National
Paid up Capital
r 1268.48 Crore
Total Turnover
r 47333 Crore
r 4022 Crore
a. Education/Literacy Enhancement
b. Healthcare/Medical Facility
c. Skill Development/Empowerment
d. Drinking Water and Sanitation
e. Community Development
f. Infrastructure
g. Environment Protection/Horticulture
Yes
Two major subsidiaries of GAIL- BCPL (Project under construction) and GAIL Gas (started
operations recently) have taken up CSR and other BR initiatives.
Yes. < 30%
Businesses should conduct and govern themselves with Ethics, Transparency and Accountability
Principle 2:
Businesses should provide goods and services that are safe and contribute to sustainability throughout their life cycle
Principle 3:
Principle 4:
Businesses should respect the interests of, and be responsive towards all stakeholders, especially those who are disadvantaged, vulnerable
and marginalized.
Principle 5:
Principle 6:
Business should respect, protect, and make efforts to restore the environment
Principle 7:
Businesses, when engaged in influencing public and regulatory policy, should do so in a responsible manner
Principle 8:
Principle 9:
Businesses should engage with and provide value to their customers and consumers in a responsible manner
164
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
Section D: BR Information
1
Sh Arun Agarwal
Independent Director
DIN Number
02705827
Name
Sh R.D. Goyal
Designation
(iii)
00063359
Designation
(ii)
DIN Number
Name
(i)
Director (Projects)
DIN Number
02766927
Name
Designation
Sh Prabhat Singh
Director (Marketing)
DIN Number
03039646
Name
Sh S. Venkatraman
Designation
(vi)
03006541
Designation
(v)
DIN Number
Name
(iv)
Sh S.L. Raina
Director (HR)
Director (BD)
DIN Number
02145534
Name
Sh P.K. Jain
Designation
Director (Finance)
Director (BD)
1.
03039646
2. Name
3. Designation
Director
4. Telephone number
011-26182130
5. e-mail id
2
Sh. S Venkatraman
P1
P2
P3
P4
P5
P6
P7
P8
P9
NA
NA
a. External Stakeholders
b. Internal Stakeholders
3
NA
Y
Ref:
Ref:
Ref:
Ref:
Ref:
Ref:
Ref:
Ref:
A
165
P1
P2
P3
P4
P5
P6
P7
P8
P9
Ref:
A,
Ref:
Ref:
Ref:
Ref:
Ref:
E,
B, C
All policies relevant to External Stakeholders are hosted on GAIL Websitehttp://gailonline.com/final_site/index.html, on following addresses:
A. Code of Conduct: http://www.gailonline.com/final_site/pdf/code_of_conduct.pdf
B. Fraud Prevention Policy:
http://www.gail.nic.in/final_site/pdf/Draft_Policy2012.pdf
C. MoU between GAIL (India) Ltd and TII
http://www.gail.nic.in/final_site/pdf/MOU-With-TII-23rd.July-2007.pdf
D. Sustainable Development Policy:
http://gailonline.com/final_site/pdf/GAIL_Sustainable_Development_Policy
English.pdf
E. GAIL CSR Policy:
http://gailonline.com/final_site/pdf/final_policy2010.pdf
All policies that are relevant to internal stakeholders are available at GAIL Intranet Portal.
7
NA
10
2a
If answer to S.No. 1 against any principle, is 'No', please explain why: (Tick up to 2 options)
166
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
Questions
P1
P2
P3
P4
P5
P6
P7
P8
P9
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
Governance related to BR
Indicate the frequency with which the Board of
Directors, Committee of the Board or CEO to assess
the BR performance of the Company. Within 3
months, 3-6 months, Annually, More than 1 year
Within 3 months
Yes
http://gail.nic.in/final_site/Sustainable_Development_report.html
Yearly
The following section provides information in line with suggested BRR format; however for further details on Sustainability activities, GAIL's
Sustainability Report 2012-13 may be referred which would beavailable at this link: http://gailonline.com/final_site/Sustainable_Development.html
No
The Code of Conduct, CDA Rules and Whistle Blower Policy are applicable to all
concerned employees whether they are working in GAIL or in any subsidiary or Joint
Venture Company.
Further, 'Integrity Pact' and "Fraud Prevention Policy" extend to Suppliers, contractors etc.
Shareholder/Investor Complaints:
Received: 26
In Process : 0
% Resolved: 100%
Customer Complaints:
Received: 112
In Process: 3
% Resolved: 97.3%
Employee Complaints:
Received: 32
In Process:2
% Resolved: 93.75%
Vigilance Complaints:
Received: 123
In Process:24
% Resolved: 80.48%
167
Principle 2
1
List up to 3 of your products or services whose design has incorporated social or environmental concerns, risks and/or opportunities.
i.
ii.
Liquid Hydrocarbon
iii.
2
Refer to Note 2
No
Not applicable
168
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
Yes,
GAIL's procurement policy is based on least price approach for mentioned
specifications in tender document. In addition, GAIL provides benefits to MSME
(Micro, Small and Medium Enterprises) as per schemes of Govt. of India.
In order to encourage participation of small and micro enterprises, following facilities
are extended:
1. (a) Issue of tender documents free of cost
(b) Exemption from payment of EMD/bid security etc.
2. Purchase preference granted to small and micro enterprises, thereby encouraging
micro and small enterprises to participate and secure orders in GAIL's tenders.
3. Spot purchases done from the local market.
4. Trial orders for import substitution and development of local vendors
Yes
Covered under Sustainable Development Policy.
Further, design of products and processes are made in a manner for NIL/ minimum
wastage. GAIL ensures usage of maximum amount of waste water in its installations.
Principle 3
1
3961
11184
234
83
Yes
GAIL upholds the freedom of Association and effectively recognizes the right in
collective bargaining by generously recognizing and promoting the Workers' Unions,
Officers' Associations, Women's Forums, SC/ST Employees etc.
In GAIL, there are two Unions representing the interests of their respective workmen/
staff. GAIL Employees Association (GEA) is a representative body of non-executives
posted at various Field Offices/ Plants/ Installations across the Country except
Corporate Office. Non-executives posted at Corporate Office are represented by GAIL
KaramchariSangh (GKS). Whereas, officers of GAIL are represented by GAIL Officers
Association (GOA).
Please indicate the Number of complaints relating to child labour, forced labour, involuntary labour, sexual harassment in the last financial year
and pending, as on the end of the financial year
Category
Sexual harassment
Discriminatory employment
169
What percentage of your under mentioned employees were given safety & skill up-gradation training in the last year?
Permanent Employees
Casual/Temporary/Contractual Employees
0% (Safety Training)
96% (Skill up gradation training)
Principle 4
1
Yes
GAIL has identified all the internal and external stakeholders.
In addition to mapping internal stakeholder (i.e. employees), GAIL has also broadly
mapped external stakeholders like investors, media, empanelled agencies, policy makers
and general public at large.
Yes
All CSR initiatives of the Company are aimed at the holistic development of the
disadvantaged vulnerable and marginalised sections of the community. GAIL allocates
2% of its previous FY's PAT towards CSR activities with the main focus on bettering the
lives of the community people, mostly around the major installations/ work centers of
GAIL. This is illustrated by CSR projects like GAIL Utkarsh programme, Skill Training
programmes to the disadvantaged youth in areas of Guna (M. P.), Dediapada (Gujarat) and
Tandur (Andhra Pradesh), Project Arogya (Mobile Health Van Project in 240 villages of UP
and MP), Project Anhad Gram (Livelihood Opportunities to 25 tribal villages of Jhabua,
MP). These programmes address the various needs of the marginalized strata of the
society, like education, healthcare, purposeful livelihood opportunities, etc.
On policy front, GAIL focuses on effective resettlement and rehabilitation (R&R) of PAPs
and also community development works in and around the projects. GAIL addresses R&R
issues with an objective that after a reasonable transition period, the affected families
improve or at least regain their previous standard of living, earning capacity.
Principle 5
1
GAIL recognizes and respects the human rights of all stakeholders and groups within and
beyond the workplace, including that of communities, consumers and vulnerable and
marginalized groups.
Shareholder/Investor Complaints:
Received: 26
In Process: 0
% Resolved: 100%
Customer Complaints:
Received: 112
In Process: 3
% Resolved: 97.3%
Employee Complaints:
Received: 32
In Process:2
% Resolved: 93.75%
170
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
Vigilance Complaints:
Received: 123
In Process: 24
% Resolved: 80.48%
Complaints from Media, advertising agencies:
Received: NIL
Total Stakeholder Complaints received: 293
In Process: 29
% Resolved:90.10%
Note: The mentioned complaints are total complaints irrespective of the Principle under
which they fall.
Principle 6
1
No
The policy doesn't cover only the Company but also extends to other stakeholders
excluding Joint Ventures.
Yes
http://www.gailonline.com/final_site/Sustainable_Development.html
at page no. 37 and page no. 40
Yes
Yes
Landfill Gas Pilot Project at Ghazipur, Delhi: This project will demonstrate the
possibility of extraction of Landfill gas (LFG) from an un-scientifically managed landfill
site and convert it in to a clean fuel. The success of this pilot project would open up the
possibility of replicating its success all over the country. The project is being carried out in
two phases- first phase comprising landfill closure, LFG extraction and flaring, and the
second phase comprising purification of LFG and subsequent conversion to CNG. The
phase-1 of this project has already been completed and next phase will commence soon.
(Please refer to Sustainability Report 2012-13)
Yes, environmental clearance has been granted as 'Consent to Establish' has been
granted by Delhi Pollution Control Committee (DPCC)
Yes
Clean technology, energy efficiency:
1. Utilization of flare gas for PNG (Piped Natural Gas), at GAIL Vijaipur
2. Augmentation of existing STP at GAIL GAON.
3. Replacement of Halon system with clean agent system in LPG C/R. In addition to this,
replacement of 20 Nos of Halon system has been carried out with clean agent.
4. Installation of portable vapour recovery compressor during statutory inspection of
LPG Spheres, GAIL Vijaipur
(For details on above projects, refer to Sustainability Report 2012-13)
5. Implementation of Burner Management System in Hot Oil Heater of GPU Vaghodia
6. Feed Gas cooling from Cold generated due to pressure reduction of RLNG at South
Gujarat Pipeline
(For details on projects 5,6, please refer to Sustainability Report 2011-12)
Renewable: GAIL has undertaken wind and solar projects which are in different phases of
implementation (Refer to Sustainability Report 2011-12)
GAIL's Sustainability Reports can be found
at:http://www.gailonline.com/final_site/Sustainable_Development.html
171
Yes
Nil
Principle 7
1
Yes
b.
c.
d.
h
2
Petrofed
GIIGNL
Yes
GAIL being a Public Sector Enterprise, formal and informal feedbacks to various
government bodies like MoP&NG, Planning Commission, PPAC etc. are provided on
regular basis. This forms a significant basis for advancement of public good. In addition,
GAIL also is a member of prestigious associations as listed above, to carry out advocacy
for public good.
In FY 2012-13, GAIL has made the advocacies which are briefly specified as followsGovernance and Administration:
Inclusion of Natural Gas in the category of 'Declared Goods' under CST Act 1956 so that
VAT on Natural Gas is restricted to 5% which ranges from 5% to 26% in different
states;
Economic Reforms:
Additional deduction under section 35AD of the Income Tax Act, 1961 to business of
laying and operating Natural Gas pipeline transportation business.
Additional tax incentives to Natural Gas Exploration and Production (E&P) business
under section 80IB and section 42 of the Income Tax Act, 1961.
Energy security:
In the area of Shale Gas, GAIL has participated in the consultative process of
Government of India seeking comments on its draft Shale Gas Policy.
Principle 8
Yes
The CSR Projects are undertaken in adherence to the principles of Inclusive Growth
and Equitable Development.
GAILensures inclusive and equitable growth through policieslike recruitment policy
which adheres to GOI guidelines on reservation for SC/ST/OBC/PH, work place
policy on HIV/AIDS prevention, and many committees have been formed which
ensure equitable growth.
GAIL has a dedicated CSR Department which oversees the smooth implementation
of all its CSR activities. The executing agencies are selected as per the Guidelines on
CSR issued by DPE
172
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
Yes
GAIL carries out an annual exercise of Third Party Impact Assessment Study of its
major CSR initiatives. The same is carried out through External agencies, NGOs,
academic institution like Delhi School of Social Work, Tata Institute of Social
Sciences etc. For the year 2012-13, GAIL has engaged the services of Tata Institute of
Social Sciences to assess the impact of its major CSR initiatives
Principle 9
1
Customer Complaints:
Received: 112
Pending: 3
% Resolved: 97.3%
NO
NO
Yes
GAIL annually takes Customer Satisfaction Index survey and results thereof are collated
together to work out CSI for entire year. For the year 2013- CSI was 90.4%
173
MCS Limited
Bankers
Cost Auditors
Registered Office
Company Secretary
Shri N.K. Nagpal
Subsidiary Companies
BSE Limited
Exchange Plaza,
Plot No. C/1, G Block
Bandra-Kula Complex,
Bandra (East)
Mumabai - 400051
174
Tomorrow is Yours
With the eco-friendly fuel - Natural Gas
GLOSSARY
Gas Industry Specific Terminologies
General abbreviations
CBM
BD
Business Development
CGD
BIS
CNG
CSR
DUPL
ERP
DGH
HR
Human Resource
DVPL
Dahej-Vijaipur Pipeline
HSE
E&P
HRD
ESA
JVCs
GREP
MW
Mega-Watt
GPU
PSU
GTI
QC
Quality Circle
HDPE
SCADA
HVJ
TQM
JLPL
Jamnagar-Loni Pipeline
LLDPE
LHC
LNG
LPG
CAGR
MDPE
CAPEX
Capital Expenditure
MSCM
EBIDTA
MMBTU
MMSCMD
ED
Excise Duty
EPS
MMTPA
GDP
MOP&NG
NSE
MOU
Memorandum of Understanding
PAT
MT
Metric Tonne
PBIDTA
PBIT
PBT
ROCE
ROIC
RONW
Return on Net-Worth
MMT
NELP
O&M
OLHC
PE
Poly-Ethylene
PNG
PNGRB
SBP Solvent
TPA
VSPL
175
Financial Terms
BSE