Partnering India’s ƐƉŝƌĂƟŽŶƐ Jindal Steel & Power Limited Annual Report 2012-13 ŽƌƉŽƌĂƚĞ/ŶĨŽƌŵĂƟŽŶ

ŚĂŝƌƉĞƌƐŽŶŵĞƌŝƚƵƐ Smt. Savitri Jindal

ŽĂƌĚŽĨŝƌĞĐƚŽƌƐ Shri K. Rajagopal Shri Haigreve Khaitan 'ƌŽƵƉŚŝĞĨ&ŝŶĂŶĐŝĂůKĸĐĞƌΘŝƌĞĐƚŽƌ Independent Director Shri Ratan Jindal Director Shri Dinesh Kumar Saraogi Shri Hardip Singh Wirk tŚŽůĞƟŵĞŝƌĞĐƚŽƌ Independent Director Shri Naveen Jindal Chairman Shri R.V. Shahi Shri Sudershan Kumar Garg Independent Director Independent Director Smt. Shallu Jindal Director Shri A.K. Purwar Shri Ajit M. Ingle Independent Director Independent Director Shri Ravi Uppal (Nominee Director, IDBI Bank Ltd.) Managing Director & Group CEO Shri Arun Kumar Independent Director

^ƚĂƚƵƚŽƌLJƵĚŝƚŽƌƐ ŽƐƚƵĚŝƚŽƌƐ ŽŵƉĂŶLJ^ĞĐƌĞƚĂƌLJ M/s S. S. Kothari Mehta & Co. M/s Ramanath Iyer & Co Shri T. K. Sadhu 145-149, Tribhuwan Complex, 808, Pearls Business Park, Ishwar Nagar, Mathura Road, Netaji Subhash Place, New Delhi - 110 065 Delhi - 110 034 Way Forward

04 Founding Chairman’s 12 Managing Director & Philosophy Group CEO’s Review 01-23 05 Message from 14 Financial Highlights Chairperson Emeritus 16 Products Canvas JSPL at a Glance 06 Building a Stronger JSPL 20 Retail Foray 08 ŽƌƉŽƌĂƚĞ/ĚĞŶƟƚLJ 22 Ensuring Raw Material 10 Chairman’s Communiqué Security

24 Review of Pan-India 42 Corporate Social KƉĞƌĂƟŽŶƐ Responsibility 32 Group Company - Jindal 62 Green Commitments 24-68 Power Limited 64 Board of Directors 34 'ůŽďĂůKƉĞƌĂƟŽŶƐ 66 'ƌŽƵƉdžĞĐƵƟǀĞŽŵŵŝƩĞĞ KƉĞƌĂƟŽŶĂů 40 ǁĂƌĚƐĂŶĚZĞĐŽŐŶŝƟŽŶ 68 Key Performance Indicators Review 41 Human Capital

69 EŽƟĐĞŽĨŶŶƵĂů'ĞŶĞƌĂů 110 Management Discussion DĞĞƟŶŐ and Analysis 78 Directors’ Report 122 Business Responsibility 69-135 Report 90 Corporate Governance Report Statutory Reports

136 Standalone Financial Statements 136-238 190 Consolidated Financial Statements Financial Statements /ŶĚŝĂĐŽŶƟŶƵĞƐƚŽďĞŽŶĞŽĨƚŚĞ ĨĂƐƚĞƐƚŐƌŽǁŝŶŐĞĐŽŶŽŵŝĞƐŽĨƚŚĞ ǁŽƌůĚ͘dŚĞĐŽƵŶƚƌLJ͛ƐĐŽŶƐŝƐƚĞŶƚ ĞĐŽŶŽŵŝĐŐƌŽǁƚŚƐŝŶĐĞƚŚĞ ůĂƐƚĚĞĐĂĚĞŚĂƐůŝŌĞĚŵŝůůŝŽŶƐ ŽĨƉĞŽƉůĞŽƵƚŽĨƉŽǀĞƌƚLJĂŶĚ ĞůĞǀĂƚĞĚƚŚĞŝƌƋƵĂůŝƚLJŽĨůŝĨĞ͘Ƶƚ ŐƌŽǁƚŚŶĞĞĚƐƚŽďĞƐƵƉƉŽƌƚĞĚďLJ ƌŽďƵƐƚŝŶĨƌĂƐƚƌƵĐƚƵƌĞŝŶŽƌĚĞƌƚŽ ďĞƐƵƐƚĂŝŶĂďůĞ͘^ƚĞĞůĂŶĚĞŶĞƌŐLJ play a pivotal role in ƚŚŝƐĐŽŶƚĞdžƚ͘ Ɛ/ŶĚŝĂĐŽŶƟŶƵĞƐŝƚƐũŽƵƌŶĞLJ towards emerging as a two trillion dollar economy with consistent focus on social ũƵƐƟĐĞĂŶĚƉĂƌƟĐŝƉĂƚŽƌLJ growth, JSPL is partnering the ŶĂƟŽŶ͛ƐĂƐƉŝƌĂƟŽŶƐ͘ We have been able to accelerate measures that will enable us to take advantage of every opportunity in the global ƐƚĞĞůĂŶĚĞŶĞƌŐLJůĂŶĚƐĐĂƉĞ͘ KƵƌĐŽŵƉĞƟƟǀĞƐƚƌĞŶŐƚŚƐʹ strategic global expansion, ƐƚƌŽŶŐĚŝƐƚƌŝďƵƟŽŶŶĞƚǁŽƌŬ͕ ƉƌŽĚƵĐƚĚŝīĞƌĞŶƟĂƟŽŶ͕ƌĂǁ ŵĂƚĞƌŝĂůƐĞĐƵƌŝƚLJ͕ŽƉĞƌĂƟŽŶĂů excellence and global ŝŶƚĞŐƌĂƟŽŶʹƉŽƐŝƟŽŶƵƐǁĞůů to help meet India’s long-term ƐŽĐŝŽͲĞĐŽŶŽŵŝĐƉƌŝŽƌŝƟĞƐ͘ tĞĂƌĞƉĂƌƚŶĞƌŝŶŐƚŚĞŶĂƟŽŶ͛Ɛ ĂƐƉŝƌĂƟŽŶƐďLJĐŽŶĚƵĐƟŶŐ business in a manner that protects and promotes the safety and health of our employees, those involved ǁŝƚŚŽƵƌŽƉĞƌĂƟŽŶƐ͕ĂŶĚƚŚĞ ĐŽŵŵƵŶŝƟĞƐǁĞǁŽƌŬǁŝƚŚ͘

3 Annual Report 2012-13 /ŶǀĞƐƟŶŐ ŝŶ/ŶĚŝĂ͛Ɛ ƐƉŝƌĂƟŽŶƐ

^ŚƌŝK͘W͘:ŝŶĚĂů Founding Chairman

Over the years, the ^ŚƌŝK͘W͘:ŝŶĚĂů͕ĨŽƵŶĚĞƌŽĨŽŶĞŽĨ/ŶĚŝĂ͛ƐůĂƌŐĞƐƚ Group has not just business conglomerates, had foreseen the innate focused on expanding ƉŽƚĞŶƟĂůŽĨƚŚĞĐŽƵŶƚƌLJĂŶĚŝƚƐƉĞŽƉůĞ͘,ŝƐĐŽŶǀŝĐƟŽŶ its businesses had inspired him to invest his resources and energy to ŶĂƟŽŶĂůůLJĂŶĚ ĐƌĞĂƚĞĞĐŽŶŽŵŝĐĂŶĚƐŽĐŝĂůŽƉƉŽƌƚƵŶŝƟĞƐĨŽƌ/ŶĚŝĂ͛Ɛ ďŝůůŝŽŶͲƉůƵƐƉŽƉƵůĂƟŽŶ͘:ŝŶĚĂů'ƌŽƵƉƌĞŵĂŝŶƐƚŚĞ ŝŶƚĞƌŶĂƟŽŶĂůůLJ͕ďƵƚ ƚŽƌĐŚďĞĂƌĞƌŽĨŚŝƐǀŝƐŝŽŶĂŶĚŝŶŝƟĂƟǀĞƐ͘

ŚĂƐĂůƐŽƐƚƌĞŶŐƚŚĞŶĞĚ KǀĞƌƚŚĞLJĞĂƌƐ͕ƚŚĞ'ƌŽƵƉŚĂƐŶŽƚũƵƐƚĨŽĐƵƐĞĚŽŶ ŝƚƐƐŽĐŝĂůƌĞůĞǀĂŶĐĞ͘ ĞdžƉĂŶĚŝŶŐŝƚƐďƵƐŝŶĞƐƐĞƐŶĂƟŽŶĂůůLJĂŶĚŝŶƚĞƌŶĂƟŽŶĂůůLJ͕ ďƵƚŚĂƐĂůƐŽƐƚƌĞŶŐƚŚĞŶĞĚŝƚƐƐŽĐŝĂůƌĞůĞǀĂŶĐĞ͘^ŽĐŝĂů stewardship was close to Shri Jindal’s heart and he ĨĞůƚƚŚĂƚƚŚĞŵĂƌŐŝŶĂůŝƐĞĚƐĞĐƟŽŶƐŽĨƐŽĐŝĞƚLJŵƵƐƚďĞ brought to the mainstream of growth and prosperity ƚŚƌŽƵŐŚĂƉƉƌŽƉƌŝĂƚĞŝŶƚĞƌǀĞŶƟŽŶ͘,ĞďĞůŝĞǀĞĚƚŚĂƚ the private sector has as much role to play as the ŐŽǀĞƌŶŵĞŶƚŝŶƐŽĐŝĂůƵƉůŝŌ͕ďĞĐĂƵƐĞďƵƐŝŶĞƐƐĞƐƐƵƌǀŝǀĞ and thrive with the material and human resources that ƚŚĞƐŽĐŝĞƚLJŐĞŶĞƌĂƚĞƐ͘ JSPL, under the visionary leadership of Shri Naveen :ŝŶĚĂů͕ŝƐƉůĂLJŝŶŐĂƉŝǀŽƚĂůƌŽůĞŝŶƚƌĂŶƐůĂƟŶŐƚŚĂƚ ǀŝƐŝŽŶŝŶƚŽĂǀŝďƌĂŶƚƌĞĂůŝƚLJ͘:^W>ŝƐƉĂƌƚŶĞƌŝŶŐ/ŶĚŝĂ͛Ɛ ĂƐƉŝƌĂƟŽŶƐƚŽĞŵĞƌŐĞĂƐŽŶĞŽĨƚŚĞƉƌŽŐƌĞƐƐŝǀĞ economies of the world with focus on social equity and ĐĂƌĞĨŽƌƚŚĞĞŶǀŝƌŽŶŵĞŶƚ͘

4 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Founding Chairman’s Philosophy Message from Chairperson Emeritus

/ŶƐƉŝƌŝŶŐ >ĞĂĚĞƌƐŚŝƉ

Smt. Savitri Jindal Chairperson Emeritus

She puts her energy ^ŵƚ͘^Ăǀŝƚƌŝ:ŝŶĚĂůŝƐƚŚĞĐĂƚĂůLJƟĐĨŽƌĐĞďĞŚŝŶĚƚŚĞ ŝŶĚƌĂǁŝŶŐĂĨĞĂƐŝďůĞ ŝŵƉůĞŵĞŶƚĂƟŽŶŽĨƚŚĞŝĚĞĂƐŽĨ^ŚƌŝK͘W͘:ŝŶĚĂů͘^ŚĞ ƌŽĂĚŵĂƉƚŽŚĞůƉ puts her energy in drawing a feasible roadmap to achieve rapid help achieve rapid socio-economic development of socio-economic ƚŚĞŶĂƟŽŶƚŚƌŽƵŐŚƚŚĞŝŶƚĞƌǀĞŶƟŽŶŽĨ:ŝŶĚĂů'ƌŽƵƉ͘ hŶĚĞƌŚĞƌƐƚĞǁĂƌĚƐŚŝƉƚŚĞ'ƌŽƵƉŚĂƐŝŶŝƟĂƚĞĚ ĚĞǀĞůŽƉŵĞŶƚŽĨƚŚĞ ŵƵůƟƉůĞĐŽŵŵƵŶŝƚLJŽƵƚƌĞĂĐŚƉƌŽŐƌĂŵŵĞƐ͘dŚĞƐĞ ŶĂƟŽŶƚŚƌŽƵŐŚƚŚĞ ƉƌŽŐƌĂŵŵĞƐůĂƌŐĞůLJĨŽĐƵƐŽŶĞĚƵĐĂƟŽŶ͕ŚĞĂůƚŚĐĂƌĞ͕ ŝŶƚĞƌǀĞŶƟŽŶŽĨ:ŝŶĚĂů ĂŶĚĞŵƉůŽLJŵĞŶƚŐĞŶĞƌĂƟŽŶŽĨƉĞŽƉůĞĂƚƚŚĞďŽƩŽŵ ŽĨƚŚĞƐŽĐŝĂůƉLJƌĂŵŝĚ͘/ŶƐƉŝƌĞĚďLJŚĞƌŐƵŝĚĂŶĐĞĂŶĚƚŚĞ 'ƌŽƵƉ͘hŶĚĞƌŚĞƌ ŽǀĞƌĂƌĐŚŝŶŐǀŝƐŝŽŶŽĨ^ŚƌŝK͘W͘:ŝŶĚĂů͕:^W>ŚĂƐŵĂĚĞ stewardship the Group ĐŽŶƐŝĚĞƌĂďůĞƐƚƌŝĚĞƐŝŶĐŽŵŵƵŶŝƚLJƵƉůŝŌŵĞŶƚŝŶĂŶ ŚĂƐŝŶŝƟĂƚĞĚŵƵůƟƉůĞ ĞŶǀŝƌŽŶŵĞŶƚĂůůLJƐƵƐƚĂŝŶĂďůĞŵĂŶŶĞƌ͘ community outreach ƉƌŽŐƌĂŵŵĞƐ͘

5 Annual Report 2012-13 ƵŝůĚŝŶŐĂ^ƚƌŽŶŐĞƌ:^W>

2008 2013 2020

Steel Capacity 2.4 3 15 DdW DdW DdW > > >

2008 2013 2020

Power Capacity 333 2,457 10,000 MW MW MW > > >

2013 2020

Pellet Plant 4.5 9 DdW DdW > > WůĂŶƚͲǁŝƐĞĂƉĂĐŝƟĞƐ

3 DdW 1.37 DdW 1.7 DdW 4.5 DdW 1.6 DdW 1.5 DdW Integrated steel Sponge iron Hot metal Pellet plant at Wire Rod & Bar HBI Plant at plant at Raigarh, plant at Raigarh, at Raigarh, Barbil, Odisha Mill at Patratu, Sohar, Oman ŚŚĂƫƐŐĂƌŚ ŚŚĂƫƐŐĂƌŚ ŚŚĂƫƐŐĂƌŚ Jharkhand

DŝŶŝŶŐƐƐĞƚƐ

12 DdW 2 DdW 1 DdW ŽĂůDŝŶŝŶŐ͕ŚŚĂƫƐŐĂƌŚ Iron Ore mining, Odisha Anthracite Coal mining, South Africa

6 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Building a Stronger JSPL

2013 Hot 1.5 ƌŝƋƵĞƩĞĚ/ƌŽŶ DdW >

2013 Iron Ore and 15 ŽĂůDŝŶŝŶŐ DdW >

2013

EƵŵďĞƌŽĨ>ŝǀĞƐ 9 dŽƵĐŚĞĚΎ Lacs+ > ΎdŚƌŽƵŐŚƐƵƐƚĂŝŶĂďŝůŝƚLJĂĐƟǀŝƟĞƐ;ŚĞĂůƚŚ͕ĞĚƵĐĂƟŽŶ͕ĞŵƉůŽLJŵĞŶƚ͕ƌĞŚĂďŝůŝƚĂƟŽŶĂŶĚŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͕ĂŵŽŶŐŽƚŚĞƌƐͿ

2013 Intellectual 15,000 Capital*

> * No. of employees with JSPL

7 Annual Report 2012-13 ƌĞĂƟŶŐsĂůƵĞZĞƐƉŽŶƐŝďůLJ

:^W>ŝƐĂh^Ψϯ͘ϱďŝůůŝŽŶĐŽŶŐůŽŵĞƌĂƚĞĂŶĚŝƐĂŵŽŶŐƚŚĞĐŽƵŶƚƌLJ͛Ɛ ĨĂƐƚĞƐƚĂŶĚůĂƌŐĞƐƚŐƌŽǁŝŶŐŝŶƚĞŐƌĂƚĞĚƐƚĞĞůŵĂŶƵĨĂĐƚƵƌĞƌƐ͘tĞ ĂƌĞĂůƐŽƐŝŐŶŝĮĐĂŶƚůLJƉƌĞƐĞŶƚŝŶŵŝŶŝŶŐ͕ƉŽǁĞƌĂŶĚŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ƐĞŐŵĞŶƚƐ͕ĐĂƚĞƌŝŶŐƚŽĂůĂƌŐĞƉĂƌƚŽĨ/ŶĚŝĂ͛ƐĚŽŵĞƐƟĐĞŶĞƌŐLJ ĂŶĚŝŶĨƌĂƐƚƌƵĐƚƵƌĞƌĞƋƵŝƌĞŵĞŶƚƐ͘KƵƌďƵƐŝŶĞƐƐŽƉĞƌĂƟŽŶƐƐƉĂŶ ĂĐƌŽƐƐƐŝĂ͕ĨƌŝĐĂĂŶĚƵƐƚƌĂůŝĂ͘/ŶũƵƐƚŽŶĞĂŶĚĂŚĂůĨĚĞĐĂĚĞƐŽĨ ŽƉĞƌĂƟŽŶƐ͕ǁĞŚĂǀĞĐŽŶƐŝĚĞƌĂďůLJĞdžƉĂŶĚĞĚŽƵƌƉƌĞƐĞŶĐĞŝŶƚŚĞ ŐůŽďĂůůĂŶĚƐĐĂƉĞ͘

KǀĞƌǀŝĞǁŽĨϯDdWƐƚĞĞůƉůĂŶƚĂƚZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ

Vision dŽďĞĂŐůŽďĂůůLJĂĚŵŝƌĞĚŽƌŐĂŶŝƐĂƟŽŶ ƚŚĂƚĞŶŚĂŶĐĞƐƚŚĞƋƵĂůŝƚLJŽĨůŝĨĞŽĨ ĂůůƐƚĂŬĞŚŽůĚĞƌƐƚŚƌŽƵŐŚƐƵƐƚĂŝŶĂďůĞ ŝŶĚƵƐƚƌŝĂůĂŶĚďƵƐŝŶĞƐƐĚĞǀĞůŽƉŵĞŶƚ͘

8 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽƌƉŽƌĂƚĞ/ĚĞŶƟƚLJ

Mission Values We aspire to achieve business excellence through: Passion for People dŚĞƐƉŝƌŝƚŽĨĞŶƚƌĞƉƌĞŶĞƵƌƐŚŝƉĂŶĚŝŶŶŽǀĂƟŽŶ Business Excellence KƉƟŵƵŵƵƟůŝƐĂƟŽŶŽĨƌĞƐŽƵƌĐĞƐ Integrity, Ownership and Sense of Belonging ^ƵƐƚĂŝŶĂďůĞĞŶǀŝƌŽŶŵĞŶƚͲĨƌŝĞŶĚůLJƉƌŽĐĞĚƵƌĞƐĂŶĚƉƌĂĐƟĐĞƐ Sustainable Development dŚĞŚŝŐŚĞƐƚĞƚŚŝĐƐĂŶĚƐƚĂŶĚĂƌĚƐ Hiring, developing and retaining the best people Maximising returns to stakeholders WŽƐŝƟǀĞŝŵƉĂĐƚŽŶƚŚĞĐŽŵŵƵŶŝƟĞƐǁĞƚŽƵĐŚ

9 Annual Report 2012-13 ŚĂŝƌŵĂŶ͛ƐŽŵŵƵŶŝƋƵĠ

ĞĂƌ^ŚĂƌĞŚŽůĚĞƌƐ͕ dŚĞĂƐƉŝƌĂƟŽŶƐŽĨĂ growing India have not been impacted by ĞĐŽŶŽŵŝĐƌŽĂĚďůŽĐŬƐ͘/ŶĂ ƉĂƌƟĐŝƉĂƚŽƌLJĚĞŵŽĐƌĂĐLJ͕ each and every person ĂĐƌŽƐƐƚŚĞƐŽĐŝĂůƉLJƌĂŵŝĚ ĐĂŶĂƐƉŝƌĞĨŽƌĂďĞƩĞƌ ƋƵĂůŝƚLJŽĨůŝĨĞ͕ĂŶĚƚŚĞ ŶĂƟŽŶŝƐĐŽŵŵŝƩĞĚƚŽ ŵĂŬĞƚŚŽƐĞĂƐƉŝƌĂƟŽŶƐĂ ƉĂůƉĂďůĞƌĞĂůŝƚLJ͘

EĂǀĞĞŶ:ŝŶĚĂů

10 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Chairman’s Communiqué

“THE STEEL SECTORŚĂƐĂŶŝŵƉŽƌƚĂŶƚĐŽƌƌĞůĂƟŽŶǁŝƚŚ “AT JSPL,ǁĞŚĂǀĞĂŵďŝƟŽƵƐƉůĂŶƐĨŽƌƚŚĞĨƵƚƵƌĞ͘tĞƉůĂŶƚŽ ŶĂƟŽŶĂůƉƌŽƐƉĞƌŝƚLJ͘dŚĞĚĞŵĂŶĚĨŽƌƐƚĞĞůǁŝůůĐŽŶƟŶƵĞƚŽŐƌŽǁ ĞŶŚĂŶĐĞƐƚĞĞůƉƌŽĚƵĐƟŽŶƚŽϭϱDdW;ĨƌŽŵϯDdWͿĂŶĚƉŽǁĞƌ as economic growth touches the lives of millions of people ŐĞŶĞƌĂƟŽŶĐĂƉĂĐŝƚLJƚŽϭϬ͕ϬϬϬDt;ĨƌŽŵĂƌŽƵŶĚϮ͕ϱϬϬDtͿďLJ ĂĐƌŽƐƐ/ŶĚŝĂ͘ ϮϬϮϬ͘

As more than a billion people move ahead in unison, JSPL ŐĞŶĞƌĂƟŽŶĐĂƉĂĐŝƚLJƚŽϭϬ͕ϬϬϬDt;ĨƌŽŵĂƌŽƵŶĚϮ͕ϱϬϬDtͿďLJ ďĞůŝĞǀĞƐŝŶƚŚĞƐƚƌĞŶŐƚŚŽĨƚŚĞŝƌĂƐƉŝƌĂƟŽŶƐĂŶĚĨŽĐƵƐĞƐŝƚƐĞīŽƌƚƐ ϮϬϮϬ͘dŚŝƐǁŽƵůĚďĞďĂĐŬĞĚďLJŽƵƌŽǁŶĐŽĂůĂŶĚŝƌŽŶŽƌĞŵŝŶĞƐ ƚŽŚĞůƉĂĐĐĞůĞƌĂƚĞƐƵƐƚĂŝŶĂďůĞƐŽĐŝŽͲĞĐŽŶŽŵŝĐŐƌŽǁƚŚ͘tĞĂƌĞ ŶĂƟŽŶĂůůLJĂŶĚŝŶƚĞƌŶĂƟŽŶĂůůLJ͘tĞĂƌĞǀŝŐŽƌŽƵƐůLJŝŵƉůĞŵĞŶƟŶŐ ĂǁĂƌĞŽĨƚŚĞĐŚĂůůĞŶŐĞƐĂŚĞĂĚ͕ďƵƚŽƵƌĐŽŶǀŝĐƟŽŶŝŶƚŚĞŶĂƟŽŶ͛Ɛ ŽƵƌ͚sŝƐŝŽŶϮϬϮϬ͛ĂŶĚĨŽƌĞƐĞĞĮǀĞƟŵĞƐŐƌŽǁƚŚŝŶƚĞƌŵƐŽĨ ůŽŶŐͲƚĞƌŵƉŽƚĞŶƟĂůĐŽŶƟŶƵĞƐƚŽďĞƐƚƌŽŶŐ͘ ƌĞǀĞŶƵĞĂŶĚĐĂƉĂĐŝƚLJ͘KƉĞƌĂƟŽŶĂůĞĸĐŝĞŶĐLJǁŝůůĂůƐŽĐŽŶƟŶƵĞƚŽ ďĞŚŝŐŚŽŶƚŚĞůŝƐƚŽĨƉƌŝŽƌŝƟĞƐ͘DŽƌĞŽǀĞƌ͕ǁĞĞŶƚĞƌĞĚƚŚĞƌĞƚĂŝů dŚĞŐůŽďĂůĞĐŽŶŽŵŝĐůĂŶĚƐĐĂƉĞĚƵƌŝŶŐ&zϮϬϭϯĚŝĚŶŽƚ ŵĂƌŬĞƚǁŝƚŚdDdZĞďĂƌƐǁŝƚŚƚŚĞďƌĂŶĚŶĂŵĞ:ŝŶĚĂůWĂŶƚŚĞƌ͕ ĚĞŵŽŶƐƚƌĂƚĞĂŶLJƵŶŝĨŽƌŵƉĂƩĞƌŶ͘ĐĐŽƌĚŝŶŐƚŽƚŚĞ/D&͕ƚŚĞ ĞŶǀŝƐŝŽŶŝŶŐŚƵŐĞŽƉƉŽƌƚƵŶŝƚLJŝŶƚŚŝƐƐĞŐŵĞŶƚ͘ ǁŽƌůĚǁŝƚŶĞƐƐĞĚĂƚŚƌĞĞͲƐƉĞĞĚĞĐŽŶŽŵŝĐƌĞĐŽǀĞƌLJŝŶ&zϮϬϭϯ͘ tŚŝůĞƵƌŽƉĞůĂŶŐƵŝƐŚĞĚƵŶĚĞƌƚŚĞďƵƌĚĞŶŽĨĞƐĐĂůĂƟŶŐĚĞďƚ JSPL’s achievement is the triumph of our dedicated professionals, ĂŶĚĮƐĐĂůŝŵďĂůĂŶĐĞƐ͕ƚŚĞh^ĞĐŽŶŽŵLJĐŽŶƟŶƵĞĚƚŽƐŚŽǁƐŝŐŶƐ ǁŚŽƌĞŵĂŝŶŽƵƌŵŽƐƚǀĂůƵĂďůĞĂƐƐĞƚƐ͘tĞĂƌĞŝŶŝƟĂƟŶŐǀĂƌŝŽƵƐ ŽĨĞŶĐŽƵƌĂŐŝŶŐŐƌŽǁƚŚŽŶĂůůǀŝƚĂůŵĂĐƌŽĞĐŽŶŽŵŝĐƉĂƌĂŵĞƚĞƌƐ͘ ƉƌŽŐƌĂŵŵĞƐƚŽĞŶŚĂŶĐĞƚŚĞŝƌƐŬŝůůƐĂŶĚĞdžƉĞƌƟƐĞ͘tĞŚĂǀĞ also created a culture of strong ethics and transparency in dŚĞĚĞǀĞůŽƉŝŶŐĞĐŽŶŽŵŝĞƐƌĞƉƌĞƐĞŶƚĂŶŽƚŚĞƌƐŝĚĞŽĨƚŚĞ ƚŚĞŽƌŐĂŶŝƐĂƟŽŶ͘dŚŝƐŝƐĂƉĂƌƚŽĨŽƵƌŚĞƌŝƚĂŐĞĂƐĂŶK͘W͘:ŝŶĚĂů ƐƉĞĐƚƌƵŵ͘dŚĞLJǁĞƌĞƌĞƐŝůŝĞŶƚƚŽŐůŽďĂůŚĞĂĚǁŝŶĚƐĂŶĚĐŽŶƟŶƵĞĚ 'ƌŽƵƉŽŵƉĂŶLJ͘ ƚŽŐƌŽǁĚƵƌŝŶŐƚŚĞLJĞĂƌ͕ĞǀĞŶƚŚŽƵŐŚŵŽĚĞƌĂƚĞůLJ͘ŚŝŶĂŝƐƐƟůů ĂŚĞĂĚŽĨƚŚĞƌĂĐĞ͕ĨŽůůŽǁĞĚďLJ/ŶĚŝĂĂŶĚŽƚŚĞƌZ/^ŶĂƟŽŶƐ͘ ƚ:^W>͕ďƵƐŝŶĞƐƐŝŶŝƟĂƟǀĞƐĂŶĚĐŽŵŵƵŶŝƚLJĞīŽƌƚƐŵŽǀĞĂŚĞĂĚ /ŶĚŝĂ͛ƐĞĐŽŶŽŵŝĐŐƌŽǁƚŚƌĂƚĞŝƐƐƟůůŵŽƌĞƚŚĂŶŵŽƐƚƉĂƌƚƐŽĨƚŚĞ ŝŶƉĞƌĨĞĐƚŚĂƌŵŽŶLJ͘tĞĚƌŝǀĞŵƵůƟƉůĞĐŽŵŵƵŶŝƚLJŝŶŝƟĂƟǀĞƐ͕ world, and it has been achieved in an environment of persistent ĨŽĐƵƐŝŶŐŽŶĞĚƵĐĂƟŽŶ͕ĂŐƌŝĐƵůƚƵƌĞ͕ĂŶŝŵĂůŚƵƐďĂŶĚƌLJ͕ǁĂƚĞƌ ŐůŽďĂůĞĐŽŶŽŵŝĐǀŽůĂƟůŝƟĞƐ͘dŚŝƐŝƐĂĐŽŵŵĞŶĚĂďůĞĞīŽƌƚ͕ resource management, infrastructure development, on-farm and ĂůƚŚŽƵŐŚƚŚĞƌĞŝƐŶŽƌŽŽŵĨŽƌĐŽŵƉůĂĐĞŶĐLJĂŶĚĞīŽƌƚƐŵƵƐƚ ŽīͲĨĂƌŵůŝǀĞůŝŚŽŽĚĞŶŚĂŶĐĞŵĞŶƚ͕ŚĞĂůƚŚĂŶĚĨĂŵŝůLJǁĞůĨĂƌĞ͕ĂŶĚ ďĞŝŶŝƟĂƚĞĚƚŽĂĐĐĞůĞƌĂƚĞŵŽŵĞŶƚƵŵŝŶƚŚĞĐŽƌĞƐĞĐƚŽƌƐŽĨƚŚĞ ǁŽŵĞŶĞŵƉŽǁĞƌŵĞŶƚ͘ ĞĐŽŶŽŵLJ͕ǁŚŝĐŚǁŝůůƉĂǀĞƚŚĞǁĂLJĨŽƌƚĞƌƟĂƌLJƐĞĐƚŽƌŐƌŽǁƚŚ͘ We are a young Company and we are partnering the dynamism dŚĞƐƚĞĞůƐĞĐƚŽƌŚĂƐĂŶŝŵƉŽƌƚĂŶƚĐŽƌƌĞůĂƟŽŶǁŝƚŚŶĂƟŽŶĂů ŽĨĂLJŽƵŶŐ/ŶĚŝĂ͕ǁŚĞƌĞŵŽƌĞƚŚĂŶŚĂůĨŽĨƚŚĞƉŽƉƵůĂƟŽŶŝƐ ƉƌŽƐƉĞƌŝƚLJ͘dŚĞĚĞŵĂŶĚĨŽƌƐƚĞĞůǁŝůůĐŽŶƟŶƵĞƚŽŐƌŽǁĂƐ ďĞůŽǁƚŚĞĂŐĞŽĨϯϬ͘ƚ:^W>͕ǁĞǁŝůůĐŽŶƟŶƵĞƚŽĨŽĐƵƐŽŶĞīŽƌƚƐ economic growth touches the lives of millions of people across ƚŽůĞǀĞƌĂŐĞƚŚĞƚƌĞŵĞŶĚŽƵƐƉŽƚĞŶƟĂůŽĨŽƵƌĐŽƵŶƚƌLJ͛ƐLJŽƵƚŚ /ŶĚŝĂ͘KƵƌĐŽƵŶƚƌLJ͛ƐƚŽƚĂůĐĂƉĂĐŝƚLJŝƐŶŽǁϵϬŵŝůůŝŽŶƚŽŶŶĞƐĂŶĚ ďƌŝŐĂĚĞĂŶĚŚĞůƉĐƌĞĂƚĞĂĚĞƋƵĂƚĞƐƵƉƉŽƌƚŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͘ ƚŚĞƉƌŽĚƵĐƟŽŶŽĨĮŶŝƐŚĞĚƐƚĞĞůŝƐĂďŽƵƚϳϴŵŝůůŝŽŶƚŽŶŶĞƐ͘^ƚĞĞů Our green strategy will also play a key role in every aspect of demand is expected to increase by 8-9% annually in the years to ǀĂůƵĞĐƌĞĂƟŽŶ͘ ĐŽŵĞ͘/ďĞůŝĞǀĞ͕ďLJϮϬϮϬ͕/ŶĚŝĂ͛ƐĐƵŵƵůĂƟǀĞƐƚĞĞůĚĞŵĂŶĚǁŝůůďĞ KŶďĞŚĂůĨŽĨƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐĂŶĚƚŚĞĞŶƟƌĞůĞĂĚĞƌƐŚŝƉ ŝŶĞdžĐĞƐƐŽĨϭϯϬŵŝůůŝŽŶƚŽŶŶĞƐ͘ team at JSPL, I want to thank our shareholders, customers, dŚĞĂďŽǀĞĨĂĐƚŽƌƐũƵƐƟĨLJŽƵƌƌĞĂƐŽŶƐĨŽƌĐĂƉĂĐŝƚLJĞdžƉĂŶƐŝŽŶ business associates and the wide fraternity of stakeholders ĂŶĚƚŚĞŝŶƚƌŽĚƵĐƟŽŶŽĨǀĂůƵĞͲĂĚĚĞĚƉƌŽĚƵĐƚƐŝŶŽƵƌƉŽƌƞŽůŝŽ͘ for keeping faith in our ability to create value even in KƵƌƉƌŽĂĐƟǀĞďĂĐŬǁĂƌĚŝŶƚĞŐƌĂƟŽŶŝŶƚŽĐŽĂůĂŶĚŝƌŽŶŽƌĞ͕ĂŶĚ ĐŚĂůůĞŶŐŝŶŐƟŵĞƐ͘ ĨŽƌǁĂƌĚŝŶƚĞŐƌĂƟŽŶŝŶƚŽǀĂůƵĞͲĂĚĚĞĚƉƌŽĚƵĐƚƐůŝŬĞďĞĂŵƐ͕ƌĂŝůƐ͕ plates, rebars and wire rods, among others have propelled our ďƵƐŝŶĞƐƐŐƌŽǁƚŚ͘dŚĞƌĞƐƵůƚŝƐƚŚĂƚĨƌŽŵďĞŝŶŐĂ` 450-plus crore enterprise in 2001, we have now emerged as a ` 20,000-crore ŽŵƉĂŶLJ͘ ƚ:^W>͕ǁĞŚĂǀĞĂŵďŝƟŽƵƐƉůĂŶƐĨŽƌƚŚĞĨƵƚƵƌĞ͘tĞƉůĂŶƚŽ EĂǀĞĞŶ:ŝŶĚĂů ĞŶŚĂŶĐĞƐƚĞĞůƉƌŽĚƵĐƟŽŶƚŽϭϱDdW;ĨƌŽŵϯDdWͿĂŶĚƉŽǁĞƌ Chairman

11 Annual Report 2012-13 DĂŶĂŐŝŶŐŝƌĞĐƚŽƌΘ'ƌŽƵƉK͛ƐZĞǀŝĞǁ

Dear Friends, /ŶĂĐŚĂůůĞŶŐŝŶŐĞĐŽŶŽŵŝĐ scenario, we are ƉĞƌĨŽƌŵŝŶŐǁŝƚŚĂůŽŶŐͲ term vision of partnering ĂĨĂƐƚĚĞǀĞůŽƉŝŶŐ/ŶĚŝĂ͘/Ŷ FY 2012-13, we reported ϴ͘ϲϴйŐƌŽǁƚŚŝŶŶĞƚ revenues, which stood at `ϭϵ͕ϵϰϯ͘ϮϬĐƌŽƌĞ͘dŚŝƐ was contributed by our ĞdžƉĂŶĚŝŶŐĐĂƉĂĐŝƟĞƐ͕ sustained moderate demand for our products and enduring customer ƌĞůĂƟŽŶƐŚŝƉƐ͘

ZĂǀŝhƉƉĂů

12 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Managing Director & Group CEO’s Review

“>sZ'/E'KhZZE͕ǁĞƚŽŽŬ:^W>dDdďĂƌƐ “:^W>/^^'KK^ƚŚĞƐƉŝƌŝƚŽĨŝƚƐƉĞŽƉůĞ͘dŚĞŝƌ ĐůŽƐĞƌƚŽƚŚĞĞŶĚƵƐĞƌ͘tĞĐƵƌƌĞŶƚůLJŚĂǀĞŵŽƌĞƚŚĂŶϲϬϬĚĞĂůĞƌƐ ŚĂƌĚǁŽƌŬĂŶĚĚĞĚŝĐĂƟŽŶŚĂǀĞŚĞůƉĞĚĐƌĞĂƚĞƚŚŝƐŐƌĞĂƚ ŽƉĞƌĂƟŶŐĂĐƌŽƐƐƚŚĞĐŽƵŶƚƌLJ͘tĞĂƌĞƐƚƌĞŶŐƚŚĞŶŝŶŐŽƵƌŶĞǁůLJ ĞŶƚĞƌƉƌŝƐĞ͘tĞĂƌĞĐŽŶĮĚĞŶƚƚŚĂƚŽƵƌĨƵƚƵƌĞͲĨŽĐƵƐĞĚƐƚƌĂƚĞŐŝĞƐ ĨŽƌŵĞĚďƵƐŝŶĞƐƐǀĞƌƟĐĂůĂŶĚƉůĂŶƚŽĞdžƉĂŶĚŝƚƐƚƌĂƚĞŐŝĐĂůůLJŝŶ will serve the best interests of our customers, employees and ƚŚĞŶĞdžƚƚǁŽLJĞĂƌƐ͘ ƐŚĂƌĞŚŽůĚĞƌƐ͘/ǁŽƵůĚůŝŬĞƚŽƚŚĂŶŬĞĂĐŚŽĨŽƵƌƐƚĂŬĞŚŽůĚĞƌƐĨŽƌ ƚŚĞŝƌƐƵƉƉŽƌƚĂŶĚĐŽŵŵŝƚŵĞŶƚŽǀĞƌƚŚĞLJĞĂƌƐ͘

KƵƌůŽŶŐͲƚĞƌŵǀŝƐŝŽŶĐŽŶƟŶƵĞƐƚŽŝŶƐƉŝƌĞŽƵƌĞdžƉĂŶƐŝŽŶƉůĂŶƐ ϭϬ͕ϬϬϬDtďLJϮϬϮϬ͘dŽĂůŝŐŶǁŝƚŚƚŚĞĂďŽǀĞĞdžƉĂŶƐŝŽŶƉůĂŶƐ͕ ŝŶďŽƚŚƐƚĞĞůĂŶĚƉŽǁĞƌďƵƐŝŶĞƐƐĞƐ͘dŚĞƐĞĞdžƉĂŶƐŝŽŶƉůĂŶƐ we secured ourselves in terms of raw materials, not only from ǁŝůůƉŽƐŝƟŽŶƵƐǁŝƚŚŐƌĞĂƚĞƌƐĐĂůĞ͕ĞŶŚĂŶĐĞĚƉƌŽĮƚĂďŝůŝƚLJĂŶĚ ĚŽŵĞƐƟĐƐŽƵƌĐĞƐ͕ďƵƚĂůƐŽĨƌŽŵŝŶƚĞƌŶĂƟŽŶĂůƌĞŐŝŽŶƐ͘ ůŽŶŐͲƚĞƌŵƐƵƐƚĂŝŶĂďŝůŝƚLJŽĨŽƵƌďƵƐŝŶĞƐƐ͘tĞŚĂǀĞďƵŝůƚĂĐŽƐƚ ĂĚǀĂŶƚĂŐĞ͕ǁŚŝĐŚŵĂŬĞƐƵƐŽŶĞŽĨƚŚĞŵŽƐƚĐŽŵƉĞƟƟǀĞƉůĂLJĞƌƐ While we have extensive expansion plans to co-create ŝŶƚŚĞŝŶĚƵƐƚƌLJƚŽĚĂLJ͘tĞŚĂǀĞĂůƐŽƐĞƚƵƉĂĐŽĂůǁĂƐŚĞƌLJƵŶŝƚƚŽ stakeholder value, we are also taking steps to safeguard the ĞŶŚĂŶĐĞƚŚĞƉƌŽĚƵĐƟǀŝƚLJŽĨĐŽĂůŬŝůŶƐ͘KƵƌĐĂƉƟǀĞƉŽǁĞƌƉůĂŶƚ ĞŶǀŝƌŽŶŵĞŶƚ͘tĞĞŶƐƵƌĞĂĐůĞĂŶ͕ŐƌĞĞŶĂŶĚŚĞĂůƚŚLJĞŶǀŝƌŽŶŵĞŶƚ ƵƐĞƐǁĂƐƚĞŇƵĞŐĂƐĞƐ͕ĐŽĂůǁĂƐŚĞƌLJƌĞũĞĐƚƐĂŶĚĐŚĂƌ;ĂǁĂƐƚĞ ŝŶƚŚĞĂƌĞĂƐŽĨŽƵƌŽƉĞƌĂƟŽŶ͘tĞǁŽƌŬƚŽǁĂƌĚƐĂĐŚŝĞǀŝŶŐĂŶ ƉƌŽĚƵĐƚͿŐĞŶĞƌĂƚĞĚĨƌŽŵƐƉŽŶŐĞŝƌŽŶ͘ ĞŶǀŝƌŽŶŵĞŶƚ͕ǁŚŝĐŚŝƐĨƌĞĞŽĨƉŽůůƵƟŽŶ;Ăŝƌ͕ǁĂƚĞƌĂŶĚƐŽůŝĚ >ĞǀĞƌĂŐŝŶŐŽƵƌďƌĂŶĚ͕ǁĞƚŽŽŬ:^W>dDdďĂƌƐĐůŽƐĞƌƚŽƚŚĞĞŶĚ ǁĂƐƚĞͿ͘KƵƌĚĞĚŝĐĂƚĞĚZΘƚĞĂŵŚĞůƉƐŝŶŝĚĞŶƟĨLJŝŶŐǀĂƌŝŽƵƐ ƵƐĞƌ͘tĞĐƵƌƌĞŶƚůLJŚĂǀĞŵŽƌĞƚŚĂŶϲϬϬĚĞĂůĞƌƐŽƉĞƌĂƟŶŐĂĐƌŽƐƐ ƉŽůůƵƟŶŐĨĂĐƚŽƌƐĂŶĚĐŽƌƌĞƐƉŽŶĚŝŶŐůLJĚĞǀĞůŽƉƉƌŽĐĞƐƐĞƐƚŽ ƚŚĞĐŽƵŶƚƌLJ͘tĞĂƌĞƐƚƌĞŶŐƚŚĞŶŝŶŐŽƵƌŶĞǁůLJĨŽƌŵĞĚďƵƐŝŶĞƐƐ ĂĚĚƌĞƐƐƚŚŽƐĞĨĂĐƚŽƌƐ͘:^W>ƐŚĂůůĐŽŶƟŶƵĞƚŽƉƵƌƐƵĞƚŚĞƐĞ ǀĞƌƟĐĂůĂŶĚƉůĂŶƚŽĞdžƉĂŶĚŝƚƐƚƌĂƚĞŐŝĐĂůůLJŝŶƚŚĞŶĞdžƚƚǁŽLJĞĂƌƐ͘ ŝŶŝƟĂƟǀĞƐĂŶĚƉĂƌƚŶĞƌƚŚĞĐŽƵŶƚƌLJ͛ƐŐƌĞĞŶĚĞǀĞůŽƉŵĞŶƚ͘ tĞŚĂǀĞůŝŶĞĚƵƉĂƐůĞǁŽĨŝŶƚĞƌŶĂƟŽŶĂůĂŶĚĚŽŵĞƐƟĐŝŶŝƟĂƟǀĞƐ͘ :^W>ŝƐĂƐŐŽŽĚĂƐƚŚĞƐƉŝƌŝƚŽĨŝƚƐƉĞŽƉůĞ͘dŚĞŝƌŚĂƌĚǁŽƌŬĂŶĚ dŽĚĂLJ͕ŽƵƌƐƚĞĞůŵĂŬŝŶŐĐĂƉĂĐŝƚLJƐƚĂŶĚƐĂƚϯDdW͕ǁŚŝĐŚŝƐ ĚĞĚŝĐĂƟŽŶŚĂǀĞŚĞůƉĞĚĐƌĞĂƚĞƚŚŝƐŐƌĞĂƚĞŶƚĞƌƉƌŝƐĞ͘tĞĂƌĞ ƐůĂƚĞĚƚŽĚŽƵďůĞƚŽϳDdWďLJϮϬϭϰ͘/ƚŝƐĂůƐŽĞdžƉĞĐƚĞĚƚŽƚŽƵĐŚ ĐŽŶĮĚĞŶƚƚŚĂƚŽƵƌĨƵƚƵƌĞͲĨŽĐƵƐĞĚƐƚƌĂƚĞŐŝĞƐǁŝůůƐĞƌǀĞƚŚĞďĞƐƚ ϭϭDdWďLJϮϬϭϱĂŶĚϭϱDdWďLJϮϬϮϬ͘,ĂǀŝŶŐƚŚĞǁŽƌůĚ͛Ɛ ŝŶƚĞƌĞƐƚƐŽĨŽƵƌĐƵƐƚŽŵĞƌƐ͕ĞŵƉůŽLJĞĞƐĂŶĚƐŚĂƌĞŚŽůĚĞƌƐ͘/ǁŽƵůĚ ůĂƌŐĞƐƚĐŽĂůͲďĂƐĞĚƐƉŽŶŐĞŝƌŽŶŵĂŶƵĨĂĐƚƵƌŝŶŐĨĂĐŝůŝƚLJ;ϭ͘ϯϳ like to thank each of our stakeholders for their support and DdWͿĂƚZĂŝŐĂƌŚĂŶĚϮDdWĐĂƉĂĐŝƚLJŽĨůŽŶŐƉƌŽĚƵĐƚƐ͕ǁĞ ĨƵƌƚŚĞƌĞdžƚĞŶĚĞĚŽƵƌŝŶƚĞŐƌĂƟŽŶĂƌŵ͘ ĐŽŵŵŝƚŵĞŶƚŽǀĞƌƚŚĞLJĞĂƌƐ͘

KƵƌŐƌĞĞŶĮĞůĚĞdžƉĂŶƐŝŽŶŝƐĂůƐŽŽŶƚƌĂĐŬǁŝƚŚƚŚĞϲDdW ƉůĂŶƚĂƚŶŐƵů͕KĚŝƐŚĂ͘^ƚĞĞůDĞůƚ^ŚŽƉĂŶĚƉůĂƚĞŵŝůůŚĂǀĞ ďĞĞŶĐŽŵŵŝƐƐŝŽŶĞĚ͕ĂŶĚƚŚĞƌĞƐƚŽĨƚŚĞƉƌŽũĞĐƚƐĂƌĞƵŶĚĞƌ ŝŵƉůĞŵĞŶƚĂƟŽŶĂŶĚǁŝůůďĞƌĞĂĚLJďLJϮϬϭϲ͘ŶŽƚŚĞƌϲDdWƉůĂŶƚ is also being set up at Patratu, Jharkhand of which two rolling ŵŝůůƐŽĨϭ͘ϲDdWĂƌĞĂůƌĞĂĚLJŽƉĞƌĂƟŽŶĂů͘tĞĂƌĞĞdžƉĂŶĚŝŶŐŽƵƌ ZĂǀŝhƉƉĂů ƉŽǁĞƌĐĂƉĂĐŝƟĞƐĨƌŽŵϮ͕ϱϬϬDtƚŽϰ͕ϯϬϬDtďLJϮϬϭϰĂŶĚƚŽ Managing Director & Group CEO

13 Annual Report 2012-13

WĞƌĨŽƌŵŝŶŐĨŽƌ ƚŚĞ>ŽŶŐdĞƌŵ

Net Income ` in Crore K Ɖ Ğ ƌ Ă Ɵ Ŷ Ő  W ƌ Ž Į ƚ  ` in Crore

12-13 19,943 12-13 6,131 11-12 18,351 11-12 6,935

10-11 13,194 10-11 6,398 09-10 11,152 09-10 5,908 08-09 10,913 08-09 5,232

 Ă Ɛ Ś  W ƌ Ž Į ƚ  ` in Crore PAT ŽŵƉŽƐŝƟŽŶŽĨƌĞǀĞŶƵĞŝŶϮϬϭϮͲϭϯ ` in Crore

12-13 4,595 12-13 2,912 11-12 ϱ͕ϱϳϱ 11-12 4,002

10-11 5,115 10-11 3,804 09-10 ϰ͕ϳϲϬ 09-10 3,635 08-09 4,194 08-09 ϯ͕ϬϬϳ

14 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Financial Highlights

WdDĂƌŐŝŶ (%) ŝǀŝĚĞŶĚZĂƚĞ (%)

12-13 15 12-13 160 11-12 22 11-12 160

10-11 29 10-11 150 09-10 33 09-10 125 08-09 28 08-09* 110

EPS (annualised) (`) KƉĞƌĂƟŶŐWƌŽĮƚDĂƌŐŝŶ (%)

12-13 ϯϭ͘ϭϯ 12-13 31 11-12 ϰϮ͘ϰϮ 11-12 38

10-11 ϰϬ͘ϮϮ 10-11 48 09-10 ϯϵ͘Ϭϱ 09-10 53 08-09* ϯϮ͘ϰϰ 08-09 48

ΎEŽƌŵĂůŝƐĞĚŽŶĂĐĐŽƵŶƚŽĨŝƐƐƵĞŽĨďŽŶƵƐƐŚĂƌĞƐŝŶƚŚĞƌĂƟŽŽĨϱ͗ϭĚƵƌŝŶŐϮϬϬϵͲϭϬ

15 Annual Report 2012-13 Wide Products Canvas

Rails

Grades IRS 52, UIC 54, UIC 60, CR 80 and CR 100

^ŝnjĞƌĂŶŐĞ Up to 121 m

ƉƉůŝĐĂƟŽŶĂƌĞĂƐ ZĂŝůǁĂLJƚƌĂĐŬƐ;ĨŽƌŚŝŐŚƐƉĞĞĚƚƌĂŝŶƐͿ͕ƌĂŝůǁĂLJƐŝĚŝŶŐƐŽĨƉŽǁĞƌ ƉůĂŶƚƐ͕ƌĞĮŶĞƌŝĞƐ͕ĐĞŵĞŶƚ͕ĨĞƌƟůŝƐĞƌĂŶĚƐƚĞĞůƉůĂŶƚƐ͘ƌĂŶĞ rails for ports and harbours, factories, mines, launch pads and ƐŚŝƉLJĂƌĚƐ͘

WĂƌĂůůĞů&ůĂŶŐĞĞĂŵƐΘŽůƵŵŶƐ Grades UB, NPB, WPB and IPE series

^ŝnjĞƌĂŶŐĞ 180 mm to 900 mm

ƉƉůŝĐĂƟŽŶĂƌĞĂƐ ZĞĮŶĞƌŝĞƐ͕ĂŝƌƉŽƌƚƐ͕ŇLJŽǀĞƌƐ͕ŵĞƚƌŽƌĂŝůƉƌŽũĞĐƚƐ͕ƐŚŽƉƉŝŶŐ malls, power plants, stadiums, cement & steel plants and ŝŶĚƵƐƚƌŝĂůƐŚĞĚƐ͕ĂŵŽŶŐŽƚŚĞƌƐ͘

dDdZĞďĂƌƐ

Grades 500, 500D, 550, 550D, 600 and CRS

^ŝnjĞƌĂŶŐĞ 6 mm to 40 mm

ƉƉůŝĐĂƟŽŶĂƌĞĂƐ ŽŶĐƌĞƚĞƌĞͲĞŶĨŽƌĐĞŵĞŶƚƐƚƌƵĐƚƵƌĞƐ͕ďƌŝĚŐĞƐ͕ŇLJŽǀĞƌƐ͕ĚĂŵƐ͕ skyscrapers, industries, roads and tunnels, used in coastal ĂƌĞĂƐ;ĚƵĞƚŽĐŽƌƌŽƐŝŽŶƌĞƐŝƐƚĂŶĐĞͿĂŶĚĞĂƌƚŚƋƵĂŬĞnjŽŶĞƐ

16 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Products Canvas

Wire Rods Grades MS, MC & HC, EQ, Boron and other Alloy Steel

^ŝnjĞƌĂŶŐĞ ϱ͘ϱŵŵƚŽϮϮŵŵ

ƉƉůŝĐĂƟŽŶĂƌĞĂƐ Fasteners, bolts, rivets, screws, general purpose wires, electrode wires, industrial wires, agriculture wires, CAQ, ďƵƐŚǁŝƌĞƐ͕ĐŚĂŝŶƌŝǀĞƚǁŝƌĞƐ͕ĐLJĐůĞƐƉŽŬĞƐ͕ǁŝƌĞƐĨŽƌůŝŌƐ͕ staple pin wire, ACSR tyre and hose reinforcement wires, pre-stressed concrete wire, springs and rope wires, needle wires, safety-pin wires, ball bearing, earth wires, screw, ĨĂƐƚĞŶĞƌƐ͕ďƵƐŚ͕ƐŽĐŬĞƚ͕ĐŽŶŶĞĐƟŶŐƌŽĚ͕ƐŚĂŌ͕ŐĞĂƌ͕ƌŝǀĞƚƐ͕ ĞŶŐŝŶĞƐŚĂŌ͕ĐŽŶŶĞĐƟŶŐƌŽĚ͕ƐƉŝŶĚůĞƐĂŶĚŐĞĂƌƐ͕ǁĞůĚŝŶŐ ĞůĞĐƚƌŽĚĞƐĂŶĚďĞĂƌŝŶŐƐ͘

Plates and Coils dŚŝĐŬŶĞƐƐ Plates: 5 mm to 150 mm Coils: 5 mm to 25 mm

tŝĚƚŚ Plates: Up to 5000 mm ŽŝůƐ͗ϭ͘ϱŵŵƚŽϮ͘ϱŵŵ

ƉƉůŝĐĂƟŽŶĂƌĞĂƐ 'ĞŶĞƌĂůĞŶŐŝŶĞĞƌŝŶŐ͕ƐƚƌƵĐƚƵƌĂůĨĂďƌŝĐĂƟŽŶ͕ŚŝͲƚĞŶƐŝůĞĂŶĚ micro-alloyed grades, pressure vessel and boilers, bridges ĂŶĚŇLJŽǀĞƌƐ͕ĐŽƌƌŽƐŝŽŶͲƌĞƐŝƐƚĂŶƚĂƉƉůŝĐĂƟŽŶƐ͕ƌĂŝůǁĂLJ ǁĂŐŽŶƐ͕ŽŝůΘŐĂƐƉŝƉĞůŝŶĞƐĂŶĚƐŚŝƉďƵŝůĚŝŶŐ͘

17 Annual Report 2012-13 Wide Products Canvas

ŶŐůĞƐĂŶĚŚĂŶŶĞůƐ

ŶŐůĞƐ 50 mm to 250 mm

ŚĂŶŶĞůƐ 100 mm to 400 mm

ƉƉůŝĐĂƟŽŶĂƌĞĂƐ WŽǁĞƌƐĞĐƚŽƌ͕ŝŶĨƌĂƐƚƌƵĐƚƵƌĞĐŽŶƐƚƌƵĐƟŽŶƐ͕ƐƚĞĞůĂŶĚĐĞŵĞŶƚ ƉůĂŶƚĐŽŶƐƚƌƵĐƟŽŶ͕ƚƌĂŶƐŵŝƐƐŝŽŶůŝŶĞƚŽǁĞƌͬƚĞůĞĐŽŵůŝŶĞ ƚŽǁĞƌƐ͕ĨĂďƌŝĐĂƟŽŶ͕ďƵƐͬƚƌƵĐŬďŽĚŝĞƐ͕ĞůĞĐƚƌŝĐĂůƚŽǁĞƌƐ;^ͬ ZĂŝůǁĂLJƐͿ͕ŝŶĚƵƐƚƌŝĂůƐŚĞĚƐ͕ĐŽŵŵĞƌĐŝĂůΘŝŶĚŝǀŝĚƵĂůƐŚŽƵƐĞƐ͕ ĂŵŽŶŐŽƚŚĞƌƐ͘

&ĂďƌŝĐĂƚĞĚ^ƚƌƵĐƚƵƌĞƐ Grades ,ͲƚLJƉĞĞĂŵƐ͕/ͲƚLJƉĞĞĂŵƐ͕Ždž^ĞĐƟŽŶƐĂŶĚ^ƚĂƌŽůƵŵŶƐ

ŝŵĞŶƐŝŽŶ tĞď;ĞƉƚŚͿ͗ϯϱϬŵŵͲϯϬϬϬŵŵ Flange Width: 250 mm - 1000 mm Length: 3 to 18 Meter tĞďdŚŝĐŬŶĞƐƐ͗ϲŵŵͲϰϬŵŵ &ůĂŶŐĞdŚŝĐŬŶĞƐƐ͗ϲŵŵͲϴϬŵŵ

ƉƉůŝĐĂƟŽŶĂƌĞĂƐ Large support columns and beams for manufacturing and process plants, airports, high-rise buildings, power plants, ƐƚĂĚŝĂĂŶĚŇLJŽǀĞƌƐ͘

Speed Floor

Grades Available Joist Depth: 200 mm, 250 mm, 300 mm, 350 mm, 400 mm DŝŶŝŵƵŵzŝĞůĚ^ƚƌĞŶŐƚŚŽĨ^ƚĞĞůʹϯϱϬDWĂ DŝŶŝŵƵŵŝŶĐŽĂƟŶŐʹϮϳϱ'^D

ŝŵĞŶƐŝŽŶ Steel frame structures, RCC frame buildings, Poured in situ or precast concrete frames, Light gauge steel frame, ŽŶǀĞŶƟŽŶĂůƐƚƌƵĐƚƵƌĂůďƌŝĐŬǁĂůůĐŽŶƐƚƌƵĐƟŽŶƐĂŶĚƐŽŽŶ͘

18 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Products Canvas

tĞůĚĞĚDĞƐŚ ^ŝnjĞƌĂŶŐĞ dDdďĂƌĚŝĂŵĞƚĞƌƵƐĞĚ͗ϲŵŵͲϭϮŵŵ Aperture: 50 mm -200 mm Width: 1200 mm to 3200 mm Length: 2000 mm to 6000 mm

ƉƉůŝĐĂƟŽŶĂƌĞĂƐ tĞůĚĞĚtŝƌĞDĞƐŚŝƐĂŶĞǁĂŶĚĞĸĐŝĞŶƚƉƌŽĚƵĐƚ͕ǁŚŝĐŚŝƐ ĂŝŵĞĚƚŽĞdžƉĞĚŝƚĞƚŚĞĐŽŶƐƚƌƵĐƟŽŶƉƌŽĐĞƐƐ͘/ƚŝƐĂƉƌŽĐĞƐƐĞĚ steel product that consists of rebars welded together to form ĂŐƌŝĚƉĂƩĞƌŶ͘ hƐĞŽĨtĞůĚĞĚtŝƌĞDĞƐŚƌĞĚƵĐĞƐĐŽŶƐƚƌƵĐƟŽŶƟŵĞ ĐŽŶƐŝĚĞƌĂďůLJĂƐŝƚĞůŝŵŝŶĂƚĞƐĂĐƟǀŝƟĞƐůŝŬĞĐƵƫŶŐ͕ŵĂƌŬŝŶŐ ĂŶĚƐƉĂĐŝŶŐŽĨďĂƌƐĂŶĚďŝŶĚŝŶŐŽĨǁŝƌĞƐƚŽƚŚĞďĂƌƐ͘

ƵƚĂŶĚĞŶĚĂƌƐ ^ŝnjĞƌĂŶŐĞ As per drawings provided by the customer ĂƌĚŝĂŵĞƚĞƌƵƐĞĚʹϲŵŵƚŽϰϬŵŵ

ƉƉůŝĐĂƟŽŶĂƌĞĂƐ Used along with reinforcement bars in all RCC structures, ƐƵĐŚĂƐďƵŝůĚŝŶŐ͕ĂŝƌƉŽƌƚƐ͕ŵĞƚƌŽƌĂŝůĂŶĚƐŽŽŶ͘

19 Annual Report 2012-13 ^ƚĞĞůĂŶĚŶĞƌŐLJĞƚĞƌŵŝŶĞ EĂƟŽŶĂůWƌŽƐƉĞƌŝƚLJ

:^W>dDdƌĞďĂƌƐ

/ŶĚŝĂŝƐǁŝƚŶĞƐƐŝŶŐĐŽŶƟŶƵĞĚŐƌŽǁƚŚŝŶ dŚŝƐŚĂƐĨƵĞůůĞĚƚŚĞĚĞŵĂŶĚĨŽƌƚŚĞƌĞŝŶĨŽƌĐĞĚďĂƌƐŝŶƚŚĞ ŝŶĚŝǀŝĚƵĂůŚŽŵĞďƵŝůĚĞƌƐĞŐŵĞŶƚ͘dŽŵĞĞƚƚŚŝƐďƵƌŐĞŽŶŝŶŐ ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͕ǁŚŝĐŚĂĐĐŽƵŶƚƐĨŽƌϭϭй ŶĞĞĚ͕:^W>ŚĂƐĚĞĐŝĚĞĚƚŽĨŽƌĂLJŝŶƚŽƌĞƚĂŝů͘KƵƌĞŶƚƌLJŝŶƚŽƌĞƚĂŝůŝƐ ŽĨŽƵƌŶĂƟŽŶĂů'W͘ƐĂƌĞƐƵůƚ͕ƚŚĞƌĞ spurred with an aim to provide top quality reinforced bars to the ŚŽƵƐŝŶŐƐĞŐŵĞŶƚ͘ ŝƐĂƐƚĞĂĚLJŐƌŽǁƚŚŝŶƚŚĞĐŽŶƐƚƌƵĐƟŽŶ ŝŶĚƵƐƚƌLJƉŽǁĞƌĞĚďLJůĂƌŐĞƐƉĞŶĚŝŶŐŽŶ dǁŽͲƟĞƌŝƐƚƌŝďƵƟŽŶ^ƚƌĂƚĞŐLJ tĞŚĂǀĞĚĞĐŝĚĞĚƚŽƐƚĞƉŝŶƚŽƌĞƚĂŝůƚŚƌŽƵŐŚĂƚǁŽͲƟĞƌ ƚŚĞŚŽƵƐŝŶŐƐĞĐƚŽƌ͘ ĚŝƐƚƌŝďƵƟŽŶŵŽĚĞů͘tĞďĞůŝĞǀĞƚŚŝƐĂƉƉƌŽĂĐŚŝƐĨƵŶĚĂŵĞŶƚĂůƚŽ ĂĐŚŝĞǀŝŶŐŽŶĞŽĨƚŚĞŬĞLJƌĞƚĂŝůŽďũĞĐƟǀĞƐŽĨƌĞĂĐŚĂŶĚǀŝƐŝďŝůŝƚLJ͘ >ĂƵŶĐŚĞĚŽƵƌŶĞǁƌĞƚĂŝůdDdďƌĂŶĚ dŚĞŵŽĚĞůǁŝůůďĞĂŝĚĞĚďLJĂƌŽďƵƐƚĂŶĚ/dͲďĂƐĞĚ^ƵƉƉůLJŚĂŝŶ DĂŶĂŐĞŵĞŶƚƐŽůƵƟŽŶĨŽƌǁŚŝĐŚǁŽƌŬŚĂƐĂůƌĞĂĚLJďĞŐƵŶ͘ dŚĞĚŝƐƚƌŝďƵƚŽƌĂƉƉŽŝŶƚŵĞŶƚŝƐďĞŝŶŐĚŽŶĞŝŶĂƉŚĂƐĞĚŵĂŶŶĞƌ͘ /ŶŽƵƌĮƌƐƚƉŚĂƐĞ͕ǁĞŚĂǀĞĂƉƉŽŝŶƚĞĚϭϮĚŝƐƚƌŝďƵƚŽƌƐĐŽǀĞƌŝŶŐ ƐŝdžƐƚĂƚĞƐ͘tĞƉůĂŶƚŽĐŽǀĞƌƚŚĞĞŶƟƌĞĐŽƵŶƚƌLJǁŝƚŚ ĂƉƉƌŽdžŝŵĂƚĞůLJϰϬĚŝƐƚƌŝďƵƚŽƌƐ͘/ŶĂƐƚĞĂĚLJƐƚĂƚĞ͕ŽƵƌĚĞĂůĞƌ network will reach about 3000 dealers covering each of the ϲϳϭĚŝƐƚƌŝĐƚƐĂĐƌŽƐƐ

20 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Retail Foray

ƚŚĞŶĂƟŽŶ͘ ƉƌĞͲƉƌŽŐƌĂŵŵĞĚƉƌŽĚƵĐƟŽŶĨƵŶĐƟŽŶƐůĞĂĚŝŶŐƚŽŚŝŐŚůLJƵŶŝĨŽƌŵ ƌĞĂƟŶŐƚŚĞƌĂŶĚ ĂŶĚĐŽŶƐŝƐƚĞŶƚƉƌŽĚƵĐƚƉƌŽƉĞƌƟĞƐ͘^ŽŵĞŽĨƚŚĞŬĞLJĨĞĂƚƵƌĞƐŽĨ dŚĞdDdƌĞƚĂŝůŵĂƌŬĞƚŽŶƐƵƉƉůLJƐŝĚĞŝƐĐŚĂƌĂĐƚĞƌŝƐĞĚďLJĂŶ :^W>dDdƌĞďĂƌƐĂƌĞ͗ unusually large number of suppliers from the secondary steel High yield strength and toughness ƐĞŐŵĞŶƚ͘dŚŝƐŚĂƐůĞĂĚƚŽĂŚŝŐŚůLJĐŽŵŵŽĚŝƟƐĞĚƉĞƌĐĞƉƟŽŶŽĨ High earthquake resistance ƚŚĞƉƌŽĚƵĐƚůĂĐŬŝŶŐĚŝīĞƌĞŶƟĂƟŽŶ͘dŽĐƌĞĂƚĞĚŝīĞƌĞŶƟĂƟŽŶ͕ǁĞ High corrosion resistance have decided to engage world renowned brand gurus to guide  ĞƩĞƌĚƵĐƟůŝƚLJ ƵƐĂŶĚŚĞůƉƵƐĂĐŚŝĞǀĞĂĐŽŵƉƌĞŚĞŶƐŝǀĞďƌĂŶĚƐƚƌĂƚĞŐLJ͘ More bonding strength KƵƌĐŽŵŵƵŶŝĐĂƟŽŶƐƚƌĂƚĞŐLJĂŝŵƐƚŽďĞŝŶĨŽƌŵĂƟǀĞĂƐǁĞůů High thermal resistance ĂƐĚŝƐƌƵƉƟǀĞŝŶƚŚĞƐĞŶƐĞƚŚĂƚŝƚƋƵĞƐƟŽŶƐŽůĚĐŽŶǀĞŶƟŽŶƐ  KƌĚŝŶĂƌLJĞůĞĐƚƌŽĚĞƐƵƐĞĚĨŽƌǁĞůĚŝŶŐũŽŝŶƚƐ and seeks new vistas of opportunity to endear the new-age  EŽůŽƐƐŝŶƐƚƌĞŶŐƚŚĂƚǁĞůĚĞĚũŽŝŶƚƐ ĐƵƐƚŽŵĞƌ͘/ƚŝƐŝŵƉŽƌƚĂŶƚƚŽƵŶĚĞƌƚĂŬĞĂŶŝŶĨŽƌŵĂƟǀĞĐĂŵƉĂŝŐŶ  DŽƌĞĞĐŽŶŽŵŝĐĂůŽŶĂĐĐŽƵŶƚŽĨďĞƩĞƌǁĞŝŐŚƚ to educate the customers about the importance of using the ƚŽƐƚƌĞŶŐƚŚƌĂƟŽ ƌŝŐŚƚƋƵĂůŝƚLJdDdĂƐŝƚĨŽƌŵƐƚŚĞďĂĐŬďŽŶĞŽĨƚŚĞƐƚƌƵĐƚƵƌĞ͘ hŶŝƋƵĞ^ĞƌǀŝĐĞKīĞƌŝŶŐƐ KƵƌĞīŽƌƚƐŚĂǀĞďĞĞŶƐĞĂŵůĞƐƐůLJŝŶƚĞŐƌĂƚĞĚǁŝƚŚŽƵƌZĞƚĂŝů /ĚĞŶƟƚLJWƌŽŐƌĂŵŵĞ͕ǁŚŝĐŚŝŶĐůƵĚĞƐŝŶͲƐŚŽƉĂƐǁĞůůĂƐŽƵƚĚŽŽƌ Keeping the requirements of end consumers in mind, we have ďƌĂŶĚŝŶŐĂĐƟǀŝƟĞƐ͘ ĚĞƐŝŐŶĞĚĂƵŶŝƋƵĞƐĞƚŽĨƐĞƌǀŝĐĞŽīĞƌŝŶŐƐŚŝƚŚĞƌƚŽŶŽƚŽīĞƌĞĚ ďLJĂŶLJ/ŶĚŝĂŶŵĂŝŶƐƚĞĞůƉƌŽĚƵĐĞƌ͘dŚŝƐǁŝůůŝŶĐůƵĚĞ͗ Salient Product Features  tŽƌůĚͲĐůĂƐƐdDdƌĞďĂƌƐƚŚĂƚĂƌĞĨƵůůLJƉƌŽĚƵĐĞĚŝŶ :^W>͛ƐdDdďĂƌƐĂƌĞƉƌŽĚƵĐĞĚŝŶŽŶĞŽĨƚŚĞǁŽƌůĚ͛ƐŵŽƐƚ :^W>ͲŽǁŶĞĚŵŝůůƐ;ŶŽĐŽŶǀĞƌƐŝŽŶƌŽƵƚĞƉƌŽĚƵĐƟŽŶͿ advanced and modern MORGAN rolling mill, deploying the Free home delivery latest thermo mechanical treatment technology known as  ^ĞůůŝŶŐŽŶĮdžĞĚƉƌŝĐĞƐ ,zY^dͲ,ŝŐŚzŝĞůĚYƵĞŶĐŚŝŶŐĂŶĚ^ĞůĨdĞŵƉĞƌŝŶŐ͘dŚĞŵŝůůŝƐ  KƉƟŽŶƚŽďƵLJŽŶůĞŶŐƚŚĂƐǁĞůůĂƐǁĞŝŐŚƚďĂƐŝƐ ĚĞƐŝŐŶĞĚǁŝƚŚůĞǀĞůƚǁŽĂƵƚŽŵĂƟŽŶƉƌŽĐĞƐƐŚĂǀŝŶŐ  ĐĐĞƐƐƚŽĂǁŝĚĞŶĞƚǁŽƌŬŽĨĚŝƐƚƌŝďƵƟŽŶ

Year 2012-13 2013-14 (E) 2014-15 (E)

Number of distributors 12 35 40 Number of dealers 600 1,500 3,000 ZĞǀĞŶƵĞƐĨƌŽŵƌĞƚĂŝů;ĐƌŽƌĞͿ 150 ϲϳϱ 1,080

21 Annual Report 2012-13 ^ƚĞĞůĂŶĚŶĞƌŐLJĞĮŶĞWƌŽƐƉĞƌŝƚLJ ĨŽƌĂ'ƌŽǁŝŶŐEĂƟŽŶ

/ŶĚŝĂ͛ƐƚƌŝůůŝŽŶͲĚŽůůĂƌĞĐŽŶŽŵLJŶĞĞĚƐƐƚĞĞůĂŶĚĞŶĞƌŐLJ ƌĞƐŽƵƌĐĞƐƚŽŐƌŽǁĂŶĚĞůĞǀĂƚĞƚŚĞƋƵĂůŝƚLJŽĨůŝĨĞŽĨ ŽǀĞƌĂďŝůůŝŽŶƉĞŽƉůĞ͘ƚ:^W>͕ǁĞŚĂǀĞƐŝŐŶŝĮĐĂŶƚůLJ ŝŶǀĞƐƚĞĚƚŽĞŶƐƵƌĞƌĂǁŵĂƚĞƌŝĂůĂǀĂŝůĂďŝůŝƚLJĨŽƌĂ ŶĂƟŽŶŽŶƚŚĞŵŽǀĞ͘

Raw material handling process

22 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Ensuring Raw Material Security

We have acquired various mines in various countries across ĨƌŝĐĂĨŽƌĐŽĂů͕ŝƌŽŶŽƌĞĂŶĚĐŽƉƉĞƌƌĞƐŽƵƌĐĞƐ͘tĞŚĂǀĞĂůƐŽ acquired iron ore and coal mines in Australia and Indonesia, ǁŝƚŚĂƐŝŐŶŝĮĐĂŶƚŝŶǀĞƐƚŵĞŶƚ͘tŝƚŚŐŽŽĚůŽŐŝƐƟĐĂůĐŽŶŶĞĐƟǀŝƚLJ͕ these mines provide the perfect resource base ƚŽĂĐŚŝĞǀĞ:^W>͛ƐsŝƐŝŽŶϮϬϮϬ͘

Vision 2020

Steel

Current Capacity: 3 DdW

2014: 7 DdW͕ as plants in Angul in Odisha and Oman will come on stream

2015: 11 DdW͕when next phase of Angul will get commissioned

2020: 15 DdW͕ŝŶĐůƵĚŝŶŐϮͲϮ͘ϱDdWŽǀĞƌƐĞĂƐ

Power

Current Capacity: 2,457 MW

2014: 5,000 MW

2015: 5,600 MW

2020: 10,000 MW

Molten steel pouring

23 Annual Report 2012-13 Pan-India Prominence

>ŽĐĂƟŽŶ ZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ ZĂŝƉƵƌ͕ŚŚĂƫƐŐĂƌŚ

State-of-the-art steel plant with a Heavy machinery division ƉƌŽĚƵĐƟŽŶĐĂƉĂĐŝƚLJŽĨϯDdWƐƚĞĞů catering to all the World’s largest coal-based sponge iron requirements of equipment manufacturing plant and spares for steel, mining W>Edd/>^ and power plants

 ^ƉŽŶŐĞ/ƌŽŶ͗ϭ͘ϯϳDdW  DĂĐŚŝŶĞƌLJĂŶĚĂƐƟŶŐƐ͗  ^ƚĞĞů͗ϯ͘ϬDdW ϭϭ͕ϱϬϬdW  WŝŐŝƌŽŶ͗ϭ͘ϲϳDdW  /ŐŶŽƚƐ͗ϯϬ͕ϬϬϬdW  ZĂŝůĂŶĚƵŶŝǀĞƌƐĂůďĞĂŵŵŝůů͗Ϭ͘ϳϱDdW  &ĂƐƟŶŐƐ͗ϯ͕ϬϬϬdW W/dzd/>^  WůĂƚĞŵŝůů͗ϭ͘ϬDdW  DĞĚŝƵŵĂŶĚůŝŐŚƚƐĞĐƟŽŶŵŝůů͗Ϭ͘ϲDdW  &ĂďƌŝĐĂƚĞĚƐƚƌƵĐƚƵƌĞƐ͗Ϭ͘ϭϮDdW  &ĞƌƌŽĂůůŽLJƐ͗ϯϲ͕ϬϬϬdW Power: 893 MW

ŽŬŝŶŐŽĂůǁĂƐŚĞƌLJŽĨϭDdW

WZK:d^hEZ IMPLEMENTATION

GL approval for shipbuilding quality  K,^ϱϵϭϳϴϮ plates Quality Management RDSO approval for supply of plates ^LJƐƚĞŵƐ;/^KϵϬϬϭ͗ϮϬϬϴͿ Z/dd/KE^ BIS approval of medium and light Environmental Management structural mill products ^LJƐƚĞŵ;/^KϭϰϬϬϭ͗ϮϬϬϰͿ Z/s PGCIL approved for structural products  KĐĐƵƉĂƟŽŶĂů,ĞĂůƚŚĂŶĚ ^ĂĨĞƚLJ;K,^^ϭϴϬϬϬ͗ϮϬϬϳͿ  /ŶĚŝĂŶŽŝůĞƌZĞŐƵůĂƟŽŶ;/ZͿ

24 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Review of Pan-India KƉĞƌĂƟŽŶƐ

WĂƚƌĂƚƵ͕:ŚĂƌŬŚĂŶĚ ŶŐƵů͕KĚŝƐŚĂ ĂƌďŝůĂŶĚdĞŶƐĂ͕KĚŝƐŚĂ

A wire rod mill and bar mill Integrated state-of-the-art steel ϰ͘ϱDdWŵƵůƟƉůĞͲŐƌĂĚĞ ǁŝƚŚĂĐĂƉĂĐŝƚLJŽĨϭ͘ϲDdW ƉůĂŶƚŽĨϮDdWǁŝƚŚƵŶŝƋƵĞ pellet plant at Barbil and a ǁŝƚŚƉƌŽƉŽƐĞĚĐĂƉƟǀĞƉŽǁĞƌ ĐŽŵďŝŶĂƟŽŶŽĨ^LJŶ'ĂƐZ/ĂŶĚ ϯϱϬdW,ĐƌƵƐŚŝŶŐƉůĂŶƚĨŽƌ ĐĂƉƟǀĞƉŽǁĞƌ͘WƌŽƉŽƐĞĚƚŽďĞ ŝƌŽŶŽƌĞĂƚdĞŶƐĂ ĞdžƉĂŶĚĞĚƚŽϲDdW

 tŝƌĞZŽĚ͗Ϭ͘ϲDdW  WůĂƚĞDŝůů͗ϭ͘ϱDdW Ăƌďŝů  ĂƌDŝůů͗ϭ͘ϬDdW Fabricated structure: 84,000 tonnes WĞůůĞƟƐĂƟŽŶƉůĂŶƚ͗ϰ͘ϱDdW  WŽǁĞƌ͗ϱϰϬ;ϭϯϱyϰͿDt Tensa /ƌŽŶŽƌĞŵŝŶŝŶŐ͗ϮDdW

 ϯDdW^ƚĞĞůWůĂŶƚ  ŽĂůtĂƐŚĞƌLJ͗ϭ͘ϮDdW WĞůůŝƟƐĂƟŽŶƉůĂŶƚ͗ϰ͘ϱDdW 1,320 MW Mega  ^ƉŽŶŐĞ/ƌŽŶďĂƐĞĚŽŶĐŽĂůŐĂƐŝĮĐĂƟŽŶ͗ Power Plant ϭ͘ϴDdW  ŽĂů'ĂƐŝĮĐĂƟŽŶWůĂŶƚ͗ϮϮϱ͕ϬϬϬEŵ3ͬŚƌ  ^D^͗Ϯ͘ϱDdW  WŽǁĞƌ͗ϮϳϬ;ϭϯϱyϮͿDt

 ĞƌƟĮĐĂƚĞŽĨƌĞŐŝƐƚƌĂƟŽŶŽĨ Environmental clearances and Tensa /^Kͬd^ϭϲϵϰϵ Forest Clearance from the  /^KϵϬϬϭ͗ϮϬϬϴ;YD^Ϳ  ĞƌƟĮĞĚǁŝƚŚ/^K Ministry of Environment and  /^KϭϰϬϬϭ͗ϮϬϬϰ;D^Ϳ 9001:2008 Forest  K,^^ϭϴϬϬϭ͗ϮϬϬϳ  ĞƌƟĮĞĚǁŝƚŚ/^KϭϰϬϬϭ  ĞƌƟĮĞĚǁŝƚŚK,^^ϭϴϬϬϭ

25 Annual Report 2012-13 ZĂŝŐĂƌŚ͕ ŚŚĂƫƐŐĂƌŚ

sŝĞǁŽĨƚŚĞƐƚĞĞůƉůĂŶƚĂƚZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ

Overview WĞƌĨŽƌŵĂŶĐĞ^ŶĂƉƐŚŽƚ ;ƚŚŽƵƐĂŶĚƚŽŶŶĞƐͿ dŚĞƐƚĞĞůŵĂŬŝŶŐƉůĂŶƚ͕ǁŝƚŚƵƉƚŽϯDdWĐĂƉĂĐŝƚLJ͕ŝƐƚŚĞ WĂƌƟĐƵůĂƌƐ 2012-13 2011-12 ǁŽƌůĚ͛ƐůĂƌŐĞƐƚĐŽĂůͲďĂƐĞĚƐƉŽŶŐĞŝƌŽŶŵĂŶƵĨĂĐƚƵƌŝŶŐĨĂĐŝůŝƚLJ Sponge Iron 1,320 1,320 ǁŝƚŚƐƚĂƚĞͲŽĨͲƚŚĞͲĂƌƚŵĂĐŚŝŶĞƌLJ͘ Semi Steel Products D͘^͘ZŽƵŶĚ 403 482 ,ŝŐŚůŝŐŚƚƐ͕ϮϬϭϮͲϭϯ Other Semi Steel Products 2,621 Ϯ͕Ϯϳϳ  ZĞĂĐŚĞĚϯDdWŽĨĐƌƵĚĞƐƚĞĞůƉƌŽĚƵĐƟŽŶ 3,024 2,759 ,͘͘&ĞƌƌŽŚƌŽŵĞͬ^ŝůŝĐŽ 34 23  dŚĞďůĂƐƚĨƵƌŶĂĐĞĐŽŶƟŶƵĞĚƚŽŽƉĞƌĂƚĞ Manganese at more than 100% of its rated capacity &ŝŶŝƐŚĞĚ^ƚĞĞůWƌŽĚƵĐƚƐ  ZĞĐŽƌĚĞĚƚŚĞŚŝŐŚĞƐƚƐƚĞĞůĚŝƐƉĂƚĐŚŽĨŽǀĞƌϯDdW WĂƌĂůůĞů&ůĂŶŐĞĞĂŵͬŽůƵŵŶƐ 431 500 Other Finished Steel Products 94 ϳϬ  dŽƵĐŚĞĚĂŚŝŐŚĞƐƚĂǀĞƌĂŐĞĚŝƐƉĂƚĐŚ 525 570 rate of 11,116 tonnes per day hŶŝǀĞƌƐĂůWůĂƚĞͬŽŝů ϳϬϬ ϳϮϵ  ĐŚŝĞǀĞĚƐŝŐŶŝĮĐĂŶƚĞŶŚĂŶĐĞŵĞŶƚŝŶĚŝǀĞƌƐŝŽŶƌĂƚĞƐĂŶĚ DĞĚŝƵŵΘ>ŝŐŚƚ^ĞĐƟŽŶƐ ϮϳϮ 186 ǁŝƚŶĞƐƐĞĚĂƋƵĂůŝƚĂƟǀĞŝŵƉƌŽǀĞŵĞŶƚŝŶƉƌŽĚƵĐƚƐ Sinter Ϯ͕ϯϳϮ 2,226 Recorded a cost saving of `ϵϬĐƌŽƌĞŽŶĂĐĐŽƵŶƚŽĨƉŽƐŝƟǀĞ Coke Oven ϳϰϵ ϳϰϲ improvement in quality and processes LDP 339 324

26 Jindal Steel & Power Limited 00JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Review of Pan-India KƉĞƌĂƟŽŶƐ

Parallel Flange Beam rolling at Raigarh

Jindal Cement plant at Raigarh

Jindal Cement Overview ,ŝŐŚůŝŐŚƚƐ͕ϮϬϭϮͲϭϯ dŚĞ:ŝŶĚĂůĞŵĞŶƚƉůĂŶƚƌƵŶƐŽŶƐůĂŐĂŶĚŇLJĂƐŚ͘/ƚŚĂƐďĞĞŶƐĞƚ  ĐŚŝĞǀĞĚƉƌŽĚƵĐƟŽŶĂƐƉĞƌƌĂƚĞĚĐĂƉĂĐŝƚLJ ƵƉƚŽƵƟůŝƐĞǁĂƐƚĞƐŐĞŶĞƌĂƚĞĚĚƵƌŝŶŐƐƚĞĞůŵĂŶƵĨĂĐƚƵƌĞ͘dŚĞ Reduced the power cost per tonne to arrive at an overall plant was established to manage solid waste generated from reduced cost per tonne ƐƚĞĞůĂŶĚƉŽǁĞƌƉůĂŶƚƐĂŶĚƚŽƉƌŽĐĞƐƐƚŚĞŵŝŶƚŽĐĞŵĞŶƚ;ŬŶŽǁŶ  WůĂŶƐƚŽŝŶĐƌĞĂƐĞƚŚĞĐĂƉĂĐŝƚLJďLJĂŶŽƚŚĞƌϮDdWŝŶƚŚĞ ĂƐWŽƌƚůĂŶĚ^ůĂŐĞŵĞŶƚͿ͘dŚĞŽŵƉĂŶLJƐƚĂƌƚĞĚǁŝƚŚĂŐƌŝŶĚŝŶŐ coming years ĐĂƉĂĐŝƚLJŽĨϬ͘ϱDdWŝŶϮϬϭϬ͘/ƚƉůĂŶƐƚŽĂĚĚĂŶŽƚŚĞƌϭ͘ϮDdW ĐůŝŶŬĞƌƵŶŝƚƚŽŝŶĐƌĞĂƐĞƚŚĞŐƌŝŶĚŝŶŐĐĂƉĂĐŝƚLJďLJϮDdW͘dŚĞ ĐĞŵĞŶƚŵĂŶƵĨĂĐƚƵƌĞĚŝƐƐŽůĚƵŶĚĞƌƚŚĞďƌĂŶĚ:ŝŶĚĂůĞŵĞŶƚ͘

27 Annual Report 2012-13 Raipur, ŚŚĂƫƐŐĂƌŚ

^ŚŽƉŇŽŽƌŽĨŵĂĐŚŝŶĞƌLJĚŝǀŝƐŝŽŶĂƚZĂŝƉƵƌ͕ŚŚĂƫƐŐĂƌŚ

Overview ,ŝŐŚůŝŐŚƚƐ͕ϮϬϭϮͲϭϯ JSPL’s heavy machinery division at Raipur caters to all the Produced 14,443 tonnes against 11,585 tonnes in 2011-12 requirements of equipment and spares of steel, cement, mining  ZĞĐĞŝǀĞĚĐĞƌƟĮĐĂƟŽŶŽĨK,^^ϭϴϬϬϬ͗ϮϬϬϳŝŶĂĚĚŝƟŽŶƚŽ and power plants of the group and other similar industries; both ĞdžŝƐƟŶŐĐĞƌƟĮĐĂƟŽŶŽĨ/^KϵϬϬϭ͗ϮϬϬϴĂŶĚ/^KϭϰϬϬϭ͗ϮϬϬϰ ŝŶ/ŶĚŝĂĂŶĚĂďƌŽĂĚ͘&ŽůůŽǁŝŶŐƚŚĞĐƵƌƌĞŶƚĞdžƉĂŶƐŝŽŶŽĨǁŽƌŬŝŶŐ Received approval from Petroleum and Explosive Safety ĂƌĞĂ;ďLJŽǀĞƌϵ͕ϬϬϬƐƋƵĂƌĞŵĞƚƌĞŽĨǁŽƌŬŝŶŐƐŚĞĚĂƌĞĂͿ͕ƚŚĞ KƌŐĂŶŝƐĂƟŽŶ;W^KͿƚŽŵĂŶƵĨĂĐƚƵƌĞhŶĮƌĞĚWƌĞƐƐƵƌĞsĞƐƐĞů ĚŝǀŝƐŝŽŶŚĂƐƐƚƌĞŶŐƚŚĞŶĞĚŝƚƐƉůĂƞŽƌŵƚŽĂĚĚƌĞƐƐƚŚĞŶĞĞĚƐŽĨ ;EŽŶͲĐƌLJŽŐĞŶŝĐͿ ƐŝŵŝůĂƌŝŶĚƵƐƚƌŝĞƐŝŶ/ŶĚŝĂĂŶĚĂĐƌŽƐƐƚŚĞǁŽƌůĚ͘  ŶƌŝĐŚĞĚŝƚƐŽƉĞƌĂƟŽŶĂůĞĸĐŝĞŶĐŝĞƐďLJƌĞĐĞŝǀŝŶŐĂƉƉƌŽǀĂů from IBR for manufacturing pressure parts and valves Expanded its working ambit by increasing the covered shed area by 9,159 square metres Designed successfully and delivered 450 mt Hot Metal Ladle ƌĂŶĞĂŶĚϮϱϬŵƚ>ĂĚůĞdƌĂŶƐĨĞƌĂƌ

28 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Review of Pan-India KƉĞƌĂƟŽŶƐ

Patratu, Jharkhand

Wire Rod mill at Patratu, Jharkhand Wire Rod manufacturing at Patratu, Jharkhand

Overview ,ŝŐŚůŝŐŚƚƐ͕ϮϬϭϮͲϭϯ dŚĞWĂƚƌĂƚƵƉůĂŶƚŝƐĂŐƌĞĞŶĮĞůĚƉƌŽũĞĐƚŽĨϲDdWƐƚĞĞůƉůĂŶƚ  ŽŵƉůĞƚĞĚƚŚĞĐŽŵŵŝƐƐŝŽŶŝŶŐŽĨƌĂŝůǁĂLJƐŝĚŝŶŐŽĨϳ͘ϮŬŵ ĂŶĚϭ͕ϯϮϬDtƉŽǁĞƌƉůĂŶƚ͘dŚĞĮƌƐƚƉŚĂƐĞŽĨϯDdW͕ĂǁŝƌĞ Commissioned the Rebar Service Centre with a `Ϯ͘ϱͲĐƌŽƌĞ ƌŽĚŵŝůůĂŶĚĂďĂƌŵŝůůŚĂǀĞĂůƌĞĂĚLJƐƚĂƌƚĞĚƉƌŽĚƵĐƟŽŶ͘ investment Moreover, the plant added cut and bend, and electro-weld Conducted a surveillance audit to renew various ŵĞƐŚƉƌŽĐĞƐƐĞƐƚŽŝƚƐǁŝƌĞĂŶĚďĂƌŵŝůůƉƌŽĚƵĐƟŽŶĨĂĐŝůŝƚLJ͘ ĞŶǀŝƌŽŶŵĞŶƚĂŶĚƐĂĨĞƚLJƌĞůĂƚĞĚĐĞƌƟĮĐĂƟŽŶƐ dŚĞƐĞƐĞƌǀŝĐĞƵŶŝƚƐǁĞƌĞĐŽŵŵŝƐƐŝŽŶĞĚŝŶ^ĞƉƚĞŵďĞƌĂŶĚ  ZĞĐĞŝǀĞĚĐĞƌƟĮĐĂƟŽŶĨŽƌǁŝƌĞƌŽĚƐĂŶĚƌŽƵŶĚƉƌŽĚƵĐƚƐǁŝƚŚ ĞĐĞŵďĞƌ͕ƌĞƐƉĞĐƟǀĞůLJ͘ /^Kͬd^ϭϲϵϰϵĂŶĚ/^ĐĞƌƟĮĐĂƟŽŶ

WĞƌĨŽƌŵĂŶĐĞ Product Wire Rod Mill ĂƌDŝůů WƌŽĚƵĐƟŽŶƉĞƌĂŶŶƵŵ;ƚŽŶŶĞƐͿ 3,24,940 3,22,039 ,ŝŐŚĞƐƚƉƌŽĚƵĐƟŽŶĂĐŚŝĞǀĞĚŝŶĂĚĂLJŝŶϮϬϭϮͲϭϯ;ƚŽŶŶĞƐͿ 1,789 3,292 zŝĞůĚƉĞƌŵŽŶƚŚ;йͿ ϵϳ͘Ϯϳ ϵϳ͘ϯϭ ŝƐƉĂƚĐŚƉĞƌĂŶŶƵŵ;ƚŽŶŶĞƐͿ 3,03,440 2,92,487

29 Annual Report 2012-13 ŶŐƵů͕ Odisha

Overview of integrated steel plant at Angul, Odisha

Overview  dŚĞĐŽŶƐƚƌƵĐƟŽŶŽĨĂƐƚĞĞůŵĞůƟŶŐƐŚŽƉ;^D^ͿǁŝƚŚĂ ϭ͘ϲϰDdW͕ĂůŽŶŐǁŝƚŚƚŚĞĐĂƐƚĞƌƵŶŝƚĞdžƉĞĐƚĞĚƚŽďĞ ŶŝŶƚĞŐƌĂƚĞĚƐƚĞĞůƉůĂŶƚ;ŽĨϭϮ͘ϱDdWĐĂƉĂĐŝƚLJͿŚĂƐďĞĞŶ completed by the second quarter of 2013-14 ƉůĂŶŶĞĚƚŽďĞĞƐƚĂďůŝƐŚĞĚŝŶƉŚĂƐĞƐŝŶŶŐƵů͕KĚŝƐŚĂ͘/ƚŝƐĂůƐŽ ĞdžƉĞĐƚĞĚƚŽŚĂǀĞĂϮ͕ϲϬϬDtŽĨĐĂƉƟǀĞƉŽǁĞƌŐĞŶĞƌĂƟŽŶ  ^ƚĂƌƚĞĚƚŚĞĐŽŵŵĞƌĐŝĂůƉƌŽĚƵĐƟŽŶŽĨƉůĂƚĞŵŝůů͕ƌŽůůŝŶŐŽƵƚ ĐĂƉĂĐŝƚLJ͘dŚĞƉƌŽũĞĐƚ͕ŽŶĞͲŽĨͲŝƚƐͲŬŝŶĚŝŶƚŚĞƐƚĂƚĞ͕ƚĂƌŐĞƚƐƚŽ ƚŚĞǁŝĚĞƐƚƉůĂƚĞŝŶ/ŶĚŝĂ;ϭϲŵŵƚŚŝĐŬdžϰ͕ϴϱϬŵŵǁŝĚĞͿ ĐŽŵƉůĞƚĞƚŚĞŵĂũŽƌĨĂĐŝůŝƟĞƐŝŶƚǁŽƉŚĂƐĞƐ͘ Commissioned three out of six power units of 135 MW each

,ŝŐŚůŝŐŚƚƐ͕ϮϬϭϮͲϭϯ WŚĂƐĞͲ//WůĂŶƐ  dŚĞĐŽĂůďĞŶĞĮĐŝĂƟŽŶƉůĂŶƚǁŝƚŚϲ͘ϱDdWĐĂƉĂĐŝƚLJŝƐ  ,ĂƐƉůĂŶƐŝŶƉƌŽĐĞƐƐƚŽĞdžƉĂŶĚƚŚĞϮDdWƐƚĞĞůĐĂƉĂĐŝƚLJ ŶĞĂƌŝŶŐĐŽŵƉůĞƟŽŶ ƚŽϲDdW  dǁŽƵŶŝƚƐŽĨůŝŵĞĂŶĚĚŽůŽŵŝƚĞƉůĂŶƚǁŝƚŚϱϬϬdWĐĂƉĂĐŝƚLJ  WůĂĐĞĚŽƌĚĞƌƐĨŽƌĂůůŵĂũŽƌƉůĂŶƚƐĂŶĚĞƋƵŝƉŵĞŶƚ ĂƌĞĂůƐŽŶĞĂƌŝŶŐĐŽŵƉůĞƟŽŶ

30 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Review of Pan-India KƉĞƌĂƟŽŶƐ

ĂƌďŝůΘdĞŶƐĂ͕ Odisha

/ƌŽŶKƌĞWĞůůĞƟƐĂƟŽŶWůĂŶƚĂƚĂƌďŝů͕KĚŝƐŚĂ /ƌŽŶKƌĞDŝŶĞĂƚdĞŶƐĂ͕KĚŝƐŚĂ

Overview :^W>͛ƐŽƉĞƌĂƟŽŶƐĂƌĞǁŝĚĞƐƉƌĞĂĚŝŶKĚŝƐŚĂ͘ϰ͘ϱDdWĐĂƉĂĐŝƚLJƉĞůůĞƚƉůĂŶƚŝƐůŽĐĂƚĞĚĂƚĂƌďŝů͕ǁŚŝůĞĂŶŝƌŽŶŽƌĞŵŝŶĞŝƐůŽĐĂƚĞĚĂƚ dĞŶƐĂ͘Ăƌďŝů͛ƐƉĞůůĞƚƉůĂŶƚĞŶŐĂŐĞƐŝŶĚƌLJŐƌŝŶĚŝŶŐ͕ǁŝƚŚƌĞĐƵƉĞƌĂƟŽŶƚLJƉĞŽĨƐƚƌĂŝŐŚƚŐƌĂĚĞŚĞĂƌƚŚůĂLJĞƌ͘dŚĞŽŵƉĂŶLJŝƐĂŐŐƌĞƐƐŝǀĞůLJ ŝŶǀŽůǀĞĚŝŶƵƐŝŶŐĂůƚĞƌŶĂƟǀĞĨƵĞůƐĂƚĂƌďŝů͕ƵƐŝŶŐĐŽĂůŐĂƐŝĮĐĂƟŽŶ͕ƌĞƉůĂĐŝŶŐĨƵĞů͘ƚdĞŶƐĂ͕ƚŚĞŽŵƉĂŶLJŚĂƐŵŽǀĞĚĂŚĞĂĚƚŽǁĂƌĚƐ ĂĐŚŝĞǀŝŶŐďĂĐŬǁĂƌĚŝŶƚĞŐƌĂƟŽŶĂŶĚƐĞĐƵƌĞĚŝƚƐƌĂǁŵĂƚĞƌŝĂůƐŽƵƌĐĞƐ͘

,ŝŐŚůŝŐŚƚƐ͕ϮϬϭϮͲϭϯ;ĂƌďŝůͿ ,ŝŐŚůŝŐŚƚƐ͕ϮϬϭϮͲϭϯ;dĞŶƐĂͿ  WƌŽĚƵĐƟŽŶŽĨϰ͘ϬϮDdW͕ŽƉĞƌĂƚĞĚƚŚĞƉůĂŶƚĨŽƌŽǀĞƌ dŚĞŵŝŶĞĂƚdĞŶƐĂŝƐǁĞůůŬŶŽǁŶĨŽƌŝƚƐĐŽŵƉĞƟƟǀĞĂĚǀĂŶƚĂŐĞƐ ϴ͕ϭϰϮŚŽƵƌƐĂŐĂŝŶƐƚϳ͕ϵϮϬŚŽƵƌƐƚŚĞƉƌĞǀŝŽƵƐLJĞĂƌ ĂŶĚŐŽŽĚŝŶĨƌĂƐƚƌƵĐƚƵƌĞĚĞǀĞůŽƉŵĞŶƚ͘/ƚŝƐĐĞƌƟĮĞĚǁŝƚŚ  /ŵƉůĞŵĞŶƚĞĚ/D^ĂŶĚƌĞĐĞŝǀĞĚ/^KĐĞƌƟĮĐĂƟŽŶŝŶ /^KϵϬϬϭ͗ϮϬϬϴ;YD^Ϳ͕/^KϭϰϬϬϭ͗ϮϬϬϰ;D^ͿĂŶĚK,^^ March, 2013 ϭϴϬϬϭ͗ϮϬϬϳ͕ǁŚŝĐŚĞŶƐƵƌĞƐLJƐƚĞŵĂƟĐĂƉƉƌŽĂĐŚĂĐƌŽƐƐĂůů ŽƉĞƌĂƟŽŶƐ͘  ĐŚŝĞǀĞĚŽǀĞƌĂůůƉƌŽĚƵĐƟŽŶǁŝƚŚnjĞƌŽĂĐĐŝĚĞŶƚƐĂŶĚŶŽ ůŝŶĞĂƌƟŵĞŝŶǀĂƌŝĂŶƚ;>d/Ϳ

31 Annual Report 2012-13 ĐŚŝĞǀŝŶŐ^ŚĂƌĞĚZĞƐƵůƚƐ

Jindal Power Limited

K͘W͘:ŝŶĚĂů^ƵƉĞƌdŚĞƌŵĂůWŽǁĞƌƉůĂŶƚĂƚdĂŵŶĂƌ͕ŚŚĂƫƐŐĂƌŚ

32 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Group Company - Jindal Power Limited

Overview :ŝŶĚĂůWŽǁĞƌ>ŝŵŝƚĞĚ͕ŽŶĞŽĨ/ŶĚŝĂ͛ƐůĞĂĚŝŶŐƉŽǁĞƌŐĞŶĞƌĂƟŽŶ ĐŽŵƉĂŶŝĞƐ͕ŚĂƐĂůƌĞĂĚLJƐĞƚƵƉĂϭ͕ϬϬϬDtƉŽǁĞƌƉƌŽũĞĐƚ͘ dŚĞƉƌŽũĞĐƚ͕ůŽĐĂƚĞĚĂƚdĂŵŶĂƌ͕ZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ͕ŝƐƚŚĞ ĮƌƐƚ/ŶĚĞƉĞŶĚĞŶƚWŽǁĞƌWůĂŶƚŝŶƚŚĞƉƌŝǀĂƚĞƐĞĐƚŽƌ͘dŚĞƉůĂŶƚ was ranked the second highest in the country for its plant load ĨĂĐƚŽƌ;W>&ͿďLJĞŶƚƌĂůůĞĐƚƌŝĐŝƚLJƵƚŚŽƌŝƚLJ;ͿŝŶϮϬϭϭͲϭϮ͘ dŚĞŽŵƉĂŶLJĂůƌĞĂĚLJŚĂƐƉůĂŶƐƚŽŝŶǀĞƐƚ` 13,410 crore for ĂĚĚŝƟŽŶĂůϮ͕ϰϬϬDtŽĨƉŽǁĞƌďLJϮϬϭϯͲϭϰ͘/ŶĂĚĚŝƟŽŶ͕ŝƚ ŚĂƐĂůƐŽƐŝŐŶĞĚĂũŽŝŶƚǀĞŶƚƵƌĞĂŐƌĞĞŵĞŶƚǁŝƚŚ,LJĚƌŽWŽǁĞƌ ĞǀĞůŽƉŵĞŶƚŽƌƉŽƌĂƟŽŶŽĨƌƵŶĂĐŚĂůWƌĂĚĞƐŚ>ŝŵŝƚĞĚ ;,WW>ͿĨŽƌĂϲ͕ϭϬϬDtŽĨŚLJĚƌŽĞůĞĐƚƌŝĐŝƚLJŽŶĂďƵŝůĚ͕ ŽƉĞƌĂƚĞĂŶĚƚƌĂŶƐĨĞƌďĂƐŝƐ͘

,ŝŐŚůŝŐŚƚƐ͕ϮϬϭϮͲϭϯ  ĐŚŝĞǀĞĚĂW>&ŽĨϵϭ͘ϬϭйǁŝƚŚŐĞŶĞƌĂƟŽŶŽĨϳ͕ϵϳϮ͘ϱϮ million units  ZĂŶŬĞĚĂƐŽŶĞŽĨƚŚĞďĞƐƚƉŽǁĞƌƐƚĂƟŽŶƐĂŵŽŶŐƚŚĞ ĐŽƵŶƚƌLJ͛ƐϮϱŵĂũŽƌŽƉĞƌĂƟŶŐƐƚĂƟŽŶƐ;ĂĐĐŽƌĚŝŶŐƚŽĂůů/ŶĚŝĂ ƌĂƟŶŐďLJŽŶW>&Ϳ

33 Annual Report 2012-13 'ůŝŵƉƐĞŽĨKƵƌ'ůŽďĂůKƉĞƌĂƟŽŶƐ

^ŚĂĚĞĞĚ/ƌŽŶΘ^ƚĞĞůŽ͘>>;^ŚĂĚĞĞĚͿĂƐƵďƐŝĚŝĂƌLJ͕ŚĂƐĂŶ ŝŶƐƚĂůůĞĚĐĂƉĂĐŝƚLJŽĨϭ͘ϱDdWŐĂƐͲďĂƐĞĚ,/ƉůĂŶƚĂƚ^ŽŚĂƌ /ŶĚƵƐƚƌŝĂůWŽƌƚ͘:^W>ŝŶǀĞƐƚĞĚh^ΨϱϮϱŵŝůůŝŽŶĨŽƌƚŚĞĂďŽǀĞ ŵĞŶƟŽŶĞĚĐĂƉĂĐŝƚLJĂŶĚŝƐŝŶƚŚĞƉƌŽĐĞƐƐŽĨĂĚĚŝŶŐĨƵƌƚŚĞƌ ^ŚĂĚĞĞĚ͕ ƐƚĞĞůŵĂŬŝŶŐĐĂƉĂĐŝƚLJŽĨϮDdWŝŶKŵĂŶ͘/ƚŝƐĂůƐŽĞŶǀŝƐĂŐĞĚƚŽƐĞƚ Oman ƵƉĂůŽŶŐƉƌŽĚƵĐƚŵŝůů;ĂƌDŝůůͿŽĨϭ͘ϰDdWĐĂƉĂĐŝƚLJƚŽŵĂŬĞƚŚĞ KŵĂŶƉůĂŶƚĂƐĂĨƵůůLJŝŶƚĞŐƌĂƚĞĚƐƚĞĞůƉůĂŶƚ͘

:^W>ŚĂƐƉƌĞƐĞŶĐĞĂĐƌŽƐƐ^ŽƵƚŚĨƌŝĐĂ͕DĂƵƌŝƚĂŶŝĂ͕DŽnjĂŵďŝƋƵĞ͕ ŽƚƐǁĂŶĂĂŶĚEĂŵŝďŝĂŝŶƚŚĞĨƌŝĐĂŶĐŽŶƟŶĞŶƚ͘&ŽĐƵƐĞĚŽŶ Jindal mining, the Company is extending its footprint into steel, energy ĂŶĚĐĞŵĞŶƚ͘dŚĞďƵƐŝŶĞƐƐĚĞǀĞůŽƉŵĞŶƚƚĞĂŵŚĂƐĂůƐŽƐĞƚŝƚƐ ĨƌŝĐĂ sight on mining coking coal, iron ore and high-value minerals, ƐƵĐŚĂƐĐŽƉƉĞƌĂŶĚŵĂŶŐĂŶĞƐĞ͘ Jindal :^W>ŚĂƐŝŶǀĞƐƚĞĚĨŽƌƚŚĞĚĞǀĞůŽƉŵĞŶƚŽĨƚǁŽŐƌĞĞŶĮĞůĚ ĞdžƉůŽƌĂƟŽŶĂƐƐĞƚƐŝŶ/ŶĚŽŶĞƐŝĂ͘ŽƚŚƚŚĞŵŝŶĞƐĂƌĞůŽĐĂƚĞĚ Indonesia ǁŝƚŚŝŶĞŶƚƌĂů<ĂůŝŵĂŶƚĂŶWƌŽǀŝŶĐĞŽĨ/ŶĚŽŶĞƐŝĂ͘

:^W>ŚĂƐƐŝdžϭϬϬйŽǁŶĞĚĐŽĂůĞdžƉůŽƌĂƟŽŶƉƌŽũĞĐƚƐŝŶ YƵĞĞŶƐůĂŶĚ͘dŚĞƐĞĞdžƉůŽƌĂƟŽŶƚĞŶĞŵĞŶƚƐĂƌĞƐƉƌĞĂĚŽǀĞƌĂ Jindal ǀĞƌLJůĂƌŐĞĂƌĞĂŽĨŵŽƌĞƚŚĂŶϭ͕ϯϬϬƐƋ͘ŬŵƐǁŝƚŚƉŽƚĞŶƟĂůĨŽƌ Australia ĐŽŬŝŶŐͬW/ĂŶĚƚŚĞƌŵĂůĐŽĂů͘dŚĞƐĞĂƌĞƐƚƌĂƚĞŐŝĐĂůůLJůŽĐĂƚĞĚŝŶ ƚŚƌĞĞŵĂũŽƌĐŽĂůďĞĂƌŝŶŐĂƌĞĂƐŽĨYƵĞĞŶƐůĂŶĚ;ŽǁĞŶďĂƐŝŶ͕ ^ƵƌĂƚďĂƐŝŶĂŶĚDĂƌLJďŽƌŽƵŐŚďĂƐŝŶͿŝŶƉƌŽdžŝŵŝƚLJƚŽƌĂŝůĂŶĚ ƉŽƌƚŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͘ Shadeed, Oman

<ĞLJ,ŝŐŚůŝŐŚƚƐ  ĐŚŝĞǀĞĚϮϬйŐƌŽǁƚŚŝŶƚŽƚĂůƐĂůĞƐƋƵĂŶƟƚLJŽǀĞƌƚŚĞ previous year  ĐŚŝĞǀĞĚƚŚĞŚŝŐŚĞƐƚĞǀĞƌĂŶŶƵĂůƉƌŽĚƵĐƟŽŶŽĨ ϭϱ͕ϭϵ͕ϳϴϳƚŽŶŶĞƐ  ZĞŐŝƐƚĞƌĞĚĂƉƌŽĮƚŽĨh^ΨϳϬŵŝůůŝŽŶĨŽƌϮϬϭϮͲϭϯ Conducted regular audits by SEU and the Ministry of ŶǀŝƌŽŶŵĞŶƚĂůĂŶĚůŝŵĂƚĞīĂŝƌƐ;DͿǁŝƚŚŶŽŵĂũŽƌ ŽďƐĞƌǀĂƟŽŶƐ

Shadeed Iron & Steel plant at Oman

Jindal Australia

<ĞLJ,ŝŐŚůŝŐŚƚƐ 'ƌĞĞŶĮĞůĚĞǀĞůŽƉŵĞŶƚ  ŽŵŵĞŶĐĞĚĚƌŝůůŝŶŐŽŶdƵĂŶtĞƐƚƉƌŽũĞĐƚ;WϮϮϳϰͿŝŶƚŚĞ Maryborough region; moreover, a seismic survey of 110 kms was conducted in November 2012, a total of about 6,000 ŵƚƐŽĨĚƌŝůůŝŶŐŝƐƉůĂŶŶĞĚŝŶƚŚĞĮƌƐƚƉŚĂƐĞĂŶĚďĂƐĞĚŽŶƚŚĞ ŽƵƚĐŽŵĞŽĨƚŚĞĚƌŝůůŝŶŐĂĐƟǀŝƟĞƐ͕ƉƌĞͲĨĞĂƐŝďŝůŝƚLJĂĐƟǀŝƟĞƐ shall start from early 2014  ^ŝŐŶĞĚEĂƟǀĞdŝƚůĞĂŐƌĞĞŵĞŶƚǁŝƚŚƵƚĐŚĂůůĂEĂƟǀĞdŝƚůĞ ŚŽůĚĞƌƐĨŽƌDĂƌLJďŽƌŽƵŐŚ^ŽƵƚŚWϮϮϱϬ͖ƚŚŝƐĞdžƉůŽƌĂƟŽŶ ƉƌŽũĞĐƚŝƐŝŵŵĞĚŝĂƚĞůLJĞĂƐƚŽĨWϮϮϳϰ͕ĂŌĞƌĐŽŵƉůĞƟŽŶ ŽĨĚƌŝůůŝŶŐĂĐƟǀŝƟĞƐŽŶWϮϮϳϰ͕ďŽƚŚƉƌŽũĞĐƚƐƐŚĂůůďĞ ĐŽŵďŝŶĞĚĂƐŽŶĞƐŝŶŐůĞƉƌŽũĞĐƚ :^W>ƚĞĂŵǀŝƐŝƚƚŽ'ƵũĂƌĂƚEZŵŝŶĞ͕ƵƐƚƌĂůŝĂ

36 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements 'ůŽďĂůKƉĞƌĂƟŽŶƐ

 ^ŝƚĞĞdžƉůŽƌĂƟŽŶĂĐƟǀŝƟĞƐƉůĂŶŶĞĚĨŽƌŝŶŐŽƉƌŽũĞĐƚƐ;W ƉƌŽĚƵĐŝŶŐĐŽŵƉĂŶLJ;'EDͿŝŶEĞǁ^ŽƵƚŚtĂůĞƐͿ͘:^W>ĂůƐŽ ϮϬϳϬĂŶĚϮϬϬϱͿĂŶĚ^ƵƌĂƚĂƐŝŶƉƌŽũĞĐƚ;WϮϬϮϰͿ͖ĐƵůƚƵƌĂů ŚĂƐĂŶŽŏĂŬĞĂŐƌĞĞŵĞŶƚĨŽƌϳϬϬ͕ϬϬϬƚŽŶŶĞƐŽĨĐŽŬŝŶŐĐŽĂů ŚĞƌŝƚĂŐĞ͕ůĂŶĚĂĐĐĞƐƐŝƐƐƵĞƐĂƌĞďĞŝŶŐƉƌŽŐƌĞƐƐĞĚ͘ ƉĞƌLJĞĂƌǁŝƚŚ'ƵũĂƌĂƚEZĨŽƌĂƉĞƌŝŽĚŽĨϭϬLJĞĂƌƐ  ŶŽƉƟŽŶĂŐƌĞĞŵĞŶƚƐŝŐŶĞĚǁŝƚŚ&ŝƚnjƌŽLJWŽƌƚƚĞƌŵŝŶĂůĨŽƌ  /ƚŚĂƐƚĂŬĞŶĂϭϭ͘ϳйƐƚĂŬĞŝŶƉŽůůŽDŝŶĞƌĂůƐ>ƚĚ͕ĂŶ^y 5 million tonnes of port capacity ůŝƐƚĞĚ/ƌŽŶKƌĞdžƉůŽƌĂƟŽŶŽŵƉĂŶLJ͕ǁŚŝĐŚŚĂƐ/ƌŽŶŽƌĞ tenements in South Australia, Western Australia Investment in ASX Listed Companies and Gabon  :^W>;ƚŚƌŽƵŐŚŝƚƐƐƵďƐŝĚŝĂƌŝĞƐͿŝŶĐƌĞĂƐĞĚŝƚƐƐƚĂŬĞƚŽϯϭ͘ϰϵй ƚŚƌŽƵŐŚĂŶŽƉĞŶŽīĞƌ;ŽīĞƌĐůŽƐĞĚŽŶϮϵƚŚDĂƌĐŚ͕ϮϬϭϯͿ ŝŶ'ƵũĂƌĂƚEZŽŬŝŶŐŽĂů>ƚĚ͕͘;ĂŶ^yůŝƐƚĞĚĐŽŬŝŶŐĐŽĂů

Jindal Indonesia

<ĞLJ,ŝŐŚůŝŐŚƚƐ dŚĞƌŵĂůŽĂůƐƐĞƚ  ĞƉŽƐŝƚŽĨůŽǁĂƐŚʹůŽǁƐƵůƉŚƵƌƚŚĞƌŵĂůĐŽĂůĨŽƌŽƉĞŶ ĐĂƐƚŽƉĞƌĂƟŽŶ  ůůŵĂũŽƌĂƉƉƌŽǀĂůƐŽďƚĂŝŶĞĚƚŽĐŽŵŵĞŶĐĞĐŽĂůŵŝŶŝŶŐ  ϮϰϬ,ĂŽĨůĂŶĚĂĐƋƵŝƌĞĚĨŽƌƚŚĞĮƌƐƚƉŚĂƐĞŽĨŵŝŶŝŶŐĂŶĚ ϭϳ͘ϳ,ĂůĂŶĚĨŽƌĚĞǀĞůŽƉŵĞŶƚŽĨĐĂƉƟǀĞĐŽĂůƚĞƌŵŝŶĂůĂƚ Barito River Ancillary infrastructure at mine is being developed  dŚƌĞĞĞǀĞŶƚƐŽĨDĞĚŝĐĂůĐŚĞĐŬƵƉŽĨĐŚŝůĚƌĞŶŽƌŐĂŶŝƐĞĚĂƐ a part of the CSR strategy

ŽŬŝŶŐŽĂůƐƐĞƚ  džƉůŽƌĂƟŽŶůŝĐĞŶƐĞĨŽƌŽǀĞƌϭϬϬƐƋ͘ŬŵƐŝŶĞŶƚƌĂů<ĂůŝŵĂŶƚĂŶ  DĞĚŝƵŵƚŽůĂƌŐĞƐŝnjĞĚĞƉŽƐŝƚƐŽĨƉƌŝŵĞŚĂƌĚĐŽŬŝŶŐĂŶĚ ƚŚĞƌŵĂůĐŽĂůĨŽƌŽƉĞŶĐĂƐƚŽƉĞƌĂƟŽŶ >ĂŶĚĚĞǀĞůŽƉŵĞŶƚĨŽƌĐĂƉƟǀĞĐŽĂůƚĞƌŵŝŶĂů  'ŽǀĞƌŶŽƌƌĞĐŽŵŵĞŶĚĂƟŽŶŽďƚĂŝŶĞĚĨŽƌĨŽƌĞƐƚĐůĞĂƌĂŶĐĞ͕ approval awaited from Central Government

37 Annual Report 2012-13 Jindal Africa

KƉĞƌĂƟŽŶƐŝŶƉƌŽŐƌĞƐƐĂƚ<ŝĞƉĞƌƐŽůŽůůŝĞƌLJ͕^ŽƵƚŚĨƌŝĐĂ

<ĞLJ,ŝŐŚůŝŐŚƚƐ ^ŽƵƚŚĨƌŝĐĂ Iron Ore Coal  ĐƋƵŝƌĞĚĂŵĂũŽƌŝƚLJƐƚĂŬĞĂŶĚŵĂŶĂŐĞŵĞŶƚĐŽŶƚƌŽůŝŶĂ  KƉĞƌĂƚĞƐƚŚĞ<ŝĞƉĞƌƐŽůŽůůŝĞƌLJ;ϭDdWŵŝŶŝŶŐͿŝŶƚŚĞ ŵĂŐŶĞƟƚĞƉƌŽũĞĐƚŶĞĂƌDĞůŵŽƚŚŝŶƚŚĞ<ǁĂƵůƵͲEĂƚĂů Mpumalanga province, which produces high quality Province of South Africa ĂŶƚŚƌĂĐŝƚĞĨŽƌďŽƚŚƚŚĞĚŽŵĞƐƟĐĂŶĚŝŶƚĞƌŶĂƟŽŶĂů  /ŶŝƟĂůĞdžƉůŽƌĂƟŽŶǁŽƌŬŝŶĐůƵĚĞƐĐŽŶĚƵĐƟŶŐdŝŵĞŽŵĂŝŶ metallurgical coal markets ůĞĐƚƌŽŵĂŐŶĞƟĐĂŶĚĞƌŽŵĂŐŶĞƟĐƐƵƌǀĞLJ͕ĂůŽŶŐǁŝƚŚĚƌŝůůŝŶŐ Kiepersol coal mine has more than 25-year lifespan with of more than 10,000 metres ĂůŵŽƐƚϱϬŵŝůůŝŽŶƚŽŶŶĞƐŽĨĐŽĂůƌĞƐŽƵƌĐĞƐ͘dŚĞĂŶƚŚƌĂĐŝƚĞ  ƵƌƌĞŶƚĞdžƉůŽƌĂƟŽŶĚĂƚĂŝŶĚŝĐĂƚĞƐƌĞƐŽƵƌĐĞƐŝŶĞdžĐĞƐƐŽĨĂ from Kiepersol has low sulphur and phosphorous content, billion tonnes with life of mine over 50 years which gives the mine a preferred supplier status for leading  dĂƌŐĞƚĞĚƉƌŽĚƵĐƟŽŶƚŽĐŽŵŵĞŶĐĞŝŶĞĂƌůLJϮϬϭϲǁŝƚŚĂůů Ferro Alloys manufacturers in South Africa and abroad, ŝŶĨƌĂƐƚƌƵĐƚƵƌĞĂŶĚƵƟůŝƟĞƐĂůƌĞĂĚLJĂǀĂŝůĂďůĞŝŶƉƌŽdžŝŵŝƚLJŽĨ including customers from the Middle East, India, Europe ƚŚĞƉƌŽũĞĐƚ and China Possesses railway siding, which forms the bulk of Kiepersol’s DŽnjĂŵďŝƋƵĞ infrastructure, enabling the mine to dispatch orders directly Coal to customers and to ports for exports  ŽŵŵĞŶĐĞĚĐŽŵŵĞƌĐŝĂůƉƌŽĚƵĐƟŽŶŽĨĐŽŬŝŶŐĂŶĚƚŚĞƌŵĂů  &ƵƌƚŚĞƌĂƌĞĂƐĂĚũĂĐĞŶƚƚŽƚŚĞĞdžŝƐƟŶŐŵŝŶĞŚĂǀĞďĞĞŶ ĐŽĂůĨƌŽŵƚŚĞŚŝƌŽĚnjŝDŝŶĞ͕ƚŚƵƐďĞĐŽŵŝŶŐƚŚĞƚŚŝƌĚŵĂũŽƌ acquired, which will increase the resources and the life of mine ĐŽŵƉĂŶLJƚŽƐƚĂƌƚĐŽĂůƉƌŽĚƵĐƟŽŶŝŶDŽnjĂŵďŝƋƵĞ

38 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements 'ůŽďĂůKƉĞƌĂƟŽŶƐ

tŽƌŬͲŝŶͲƉƌŽŐƌĞƐƐĂƚDŽnjĂŵďŝƋƵĞĐŽĂůŵŝŶĞƐ

 džĐĂǀĂƟŽŶŽĨŽǀĞƌďƵƌĚĞŶĂŶĚĐŽŵŵĞŶĐĞĚƚƌĂŝůƌƵŶŶŝŶŐŽĨ EĂŵŝďŝĂ wash plant in March 2013 /ƌŽŶKƌĞĂŶĚĂƐĞDĞƚĂůƐ  ƵƌƌĞŶƚƉƌŽĚƵĐƟŽŶĐĂƉĂĐŝƚLJŽĨϯDdWǁŝƚŚƉůĂŶƐŽĨ Acquire two EPLs for iron ore in Dordabis area close to ĞdžƉĂŶĚŝŶŐƚŚĂƚƚŽϭϱDdWŝŶƚŚĞŶĞdžƚƉŚĂƐĞ Windhoek and two EPLs for Manganese in northern Namibia  ^ŝnjĂďůĞŝŶǀĞƐƚŵĞŶƚƉůĂŶŶĞĚĨŽƌĂůŽŶŐͲƚĞƌŵůŽŐŝƐƟĐƐƐŽůƵƟŽŶ  ŽŵŵĞŶĐĞĚĞdžƉůŽƌĂƟŽŶǁŽƌŬŝŶƚŚĞ/ƌŽŶKƌĞW>ƐďĂƐĞƐŽŶ ƚŚĂƚŝŶĐůƵĚĞƐƐĞƫŶŐƵƉŽĨĂůŽŶŐĚŝƐƚĂŶĐĞƐůƵƌƌLJƉŝƉĞůŝŶĞƚŽ ƌĞŐŝŽŶĂůĂĞƌŽŵĂŐŶĞƟĐĚĂƚĂŽďƚĂŝŶĞĚĨƌŽŵƚŚĞŐŽǀĞƌŶŵĞŶƚ ĞŝƌĂĂŶĚĐƌĞĂƟŶŐŽƵƌŽǁŶƚĞƌŵŝŶĂůŝŶĞŝƌĂƉŽƌƚ  dĞƐƟŶŐŽŶŐƌĂďƐĂŵƉůĞƐƐŚŽǁƐƐŝŐŶŝĮĐĂŶƚƉŽƚĞŶƟĂůŽĨŚŝŐŚ Proposed to set up a 42 MW power plant to be fuelled by ŐƌĂĚĞŝƌŽŶŽƌĞǁŝƚŚĂŵŝdžŽĨŚĂĞŵĂƟƚĞĂŶĚŵĂŐŶĞƟƚĞ ĐŽĂůŵŝĚĚůŝŶŐƐƚŚĂƚƐŚĂůůďĞƵƐĞĚĨŽƌĐĂƉƟǀĞĐŽŶƐƵŵƉƟŽŶ as well as sale to the grid Mauritania dŚĞŽŵƉĂŶLJĂĐƋƵŝƌĞĚƚǁŽŝƌŽŶŽƌĞĐŽŶĐĞƐƐŝŽŶƐŝŶŬũŽƵũƚ ŽƚƐǁĂŶĂ ƌĞŐŝŽŶŝŶDĂƵƌŝƚĂŶŝĂ͘džƉůŽƌĂƟŽŶƉĞƌŵŝƚƐĨŽƌƚŚĞƚǁŽĐŽŶĐĞƐƐŝŽŶƐ ŚĂǀĞďĞĞŶŽďƚĂŝŶĞĚ͘ŽŵŵĞŶĐĞĚƐƵƌĨĂĐĞŐĞŽůŽŐŝĐĂůŵĂƉƉŝŶŐŽŶ Coal and Power ƚŚĞƐĞĐŽŶĐĞƐƐŝŽŶĂŶĚƚŚƌĞĞŝƌŽŶŽƌĞnjŽŶĞƐŚĂǀĞďĞĞŶŝĚĞŶƟĮĞĚ  dŚĞŽŵƉĂŶLJ͛ƐĐƵƌƌĞŶƚŵŝŶĞƌĂůƌĞƐŽƵƌĐĞƐĞƐƟŵĂƚĞĚƚŚĂƚ ƟůůĚĂƚĞ͘/ŶϮϬϭϯͲϭϰ͕ĨƵƌƚŚĞƌĞdžƉůŽƌĂƟŽŶĂĐƟǀŝƟĞƐ͕ƐƵĐŚĂƐ ƚŚĞDŵĂŵĂďƵůĂĂƐƚůŝĐĞŶƐĞƐŚŽůĚĂƉƉƌŽdžŝŵĂƚĞůLJϮ͘ϳďŝůůŝŽŶ ƚƌĞŶĐŚŝŶŐĂŶĚƉŝƫŶŐ͕ZĂŶĚĚƌŝůůŝŶŐ͕ŚLJĚƌŽůŽŐŝĐĂůƐƚƵĚŝĞƐĂŶĚ ƚŽŶŶĞƐŽĨĐŽĂů͘dŚĞƐĞĐŽĂůƌĞƐŽƵƌĐĞƐĂƌĞĂĚĞƋƵĂƚĞƚŽƐƵƉƉůLJ ĂĞƌŽŵĂŐĞŶƟĐƐƵƌǀĞLJǁŝůůďĞĐĂƌƌŝĞĚŽƵƚƚŽĂĐĐĞƐƐƚŚĞƉŽƚĞŶƟĂů ĂůůƚŚĞŽŵƉĂŶLJ͛ƐƉůĂŶŶĞĚĐŽĂůĂŶĚĞŶĞƌŐLJƌĞůĂƚĞĚƉƌŽũĞĐƚƐ ƌĞƐĞƌǀĞĂŶĚƌĞƐŽƵƌĐĞ͘dŚĞĐŽŶĐĞƐƐŝŽŶƐĂƌĞůŽĐĂƚĞĚϯϱϬŬŵƐĨƌŽŵ in Botswana EŽƵĂŬĐŚŽƩƉŽƌƚ;ƚŚĞĐĂƉŝƚĂůĐŝƚLJŽĨDĂƵƌŝƚĂŶŝĂͿ͘  dŚĞŽŵƉĂŶLJŝƐĂĐƟǀĞůLJƉƵƌƐƵŝŶŐƚǁŽƉŽǁĞƌƉƌŽũĞĐƚƐ͗ ŽŶĞĨŽƌĐŽŶƐƵŵƉƟŽŶĂŶĚƉŽƚĞŶƟĂůƐĂůĞƐŝŶŽƚƐǁĂŶĂĂŶĚ KƚŚĞƌ>ŽĐĂƟŽŶƐ ƚŚĞŽƚŚĞƌŝŶƚĞŶĚĞĚĨŽƌĞdžƉŽƌƚŽĨƉŽǁĞƌƚŽ^ŽƵƚŚĨƌŝĐĂ͘ :^W>ŝƐĞǀĂůƵĂƟŶŐĂŶƵŵďĞƌŽĨŽƉƉŽƌƚƵŶŝƟĞƐŝŶŵŝŶŝŶŐĂŶĚƉŽǁĞƌ ^ŝŐŶŝĮĐĂŶƚŶĞǁďĂƐĞͲůŽĂĚƉŽǁĞƌŐĞŶĞƌĂƟŽŶĐĂƉĂĐŝƚLJŝƐ ƐĞĐƚŽƌŝŶEŽƌƚŚĂŶĚtĞƐƚĨƌŝĐĂ͘dŚĞŽŵƉĂŶLJŝƐŝŶĚŝƐĐƵƐƐŝŽŶ required in Southern Africa to sustain economic growth ǁŝƚŚƚŚĞ'ŽǀĞƌŶŵĞŶƚƐĨŽƌƐĞƫŶŐƵƉĐŽĂůͲďĂƐĞĚƚŚĞƌŵĂůƉŽǁĞƌ ĂŶĚĚĞǀĞůŽƉŵĞŶƚ͘dŚĞ^ŽƵƚŚĨƌŝĐĂŶƉŽǁĞƌƉƌŽũĞĐƚ͕ǀŝnj͘ ƉůĂŶƚƐ͘/ŶĂĚĚŝƟŽŶ͕ŽƚŚĞƌƉŽƚĞŶƟĂůůŽĐĂƟŽŶƐĂƌĞďĞŝŶŐŝĚĞŶƟĮĞĚ ƚŚĞϭ͕ϮϬϬDtDŵĂŵĂďƵůĂŶĞƌŐLJWƌŽũĞĐƚ͕ŝƐƚŚĞŵŽƐƚ ĂŶĚĂƐƐĞƐƐĞĚĨŽƌŵŝŶŝŶŐĂŶĚƉŽǁĞƌŐĞŶĞƌĂƟŽŶƉƌŽũĞĐƚƐ͘ ĂĚǀĂŶĐĞĚůĂƌŐĞďĂƐĞͲůŽĂĚƉŽǁĞƌƉƌŽũĞĐƚƵŶĚĞƌĚĞǀĞůŽƉŵĞŶƚ ďLJĂŶŝŶĚĞƉĞŶĚĞŶƚƉŽǁĞƌƉƌŽĚƵĐĞƌ;/WWͿŝŶƚŚĞƌĞŐŝŽŶ͘dŚĞ ĞůĞĐƚƌŝĐŝƚLJƉƌŽĚƵĐĞĚďLJ:ŝŶĚĂů͛ƐƉŽǁĞƌƉƌŽũĞĐƚƐĐĂŶďĞƐŽůĚ ƚŽƚŚĞƌĞƐƉĞĐƟǀĞ^ŽƵƚŚĞƌŶĨƌŝĐĂŶŶĂƟŽŶĂůƵƟůŝƟĞƐ͕ƐƵĐŚĂƐ ŽƚƐǁĂŶĂWŽǁĞƌŽƌƉŽƌĂƟŽŶĂŶĚ^ŽƵƚŚĨƌŝĐĂ͛ƐĞƉĂƌƚŵĞŶƚ ŽĨŶĞƌŐLJͬƐŬŽŵ,ŽůĚŝŶŐƐ͘

39 Annual Report 2012-13 ǁĂƌĚƐĂŶĚZĞĐŽŐŶŝƟŽŶ

Dun & Bradstreet Corporate Awards 2012 EĂƟŽŶĂůŶĞƌŐLJŽŶƐĞƌǀĂƟŽŶǁĂƌĚƐϮϬϭϮ

CII CSR Award 2012-13 dŚŝŶŬKĚŝƐŚĂ>ĞĂĚĞƌƐŚŝƉǁĂƌĚŽŶ^Z

 ĚũƵĚŐĞĚƚŚĞƚŽƉ/ŶĚŝĂŶĐŽŵƉĂŶLJƵŶĚĞƌƚŚĞŝƌŽŶĂŶĚƐƚĞĞů Conferred with the Zenith HR Award by NHRD sector for the Dun & Bradstreet Corporate Awards 2012 Bhubaneswar Chapter EĂƟŽŶĂůŶĞƌŐLJŽŶƐĞƌǀĂƟŽŶǁĂƌĚƐϮϬϭϮ͗ Won the 1st  tŽŶƚŚĞ/ŶĚŝĂ,ƵŵĂŶĂƉŝƚĂůǁĂƌĚϮϬϭϮĨŽƌŽƵƚƐƚĂŶĚŝŶŐ WƌŝnjĞŝŶƚŚĞ/ŶƚĞŐƌĂƚĞĚ^ƚĞĞů^ĞĐƚŽƌ ĐŽŶƚƌŝďƵƟŽŶŽĨ,ZƚŽKƌŐĂŶŝƐĂƟŽŶĂůĞǀĞůŽƉŵĞŶƚ &//YƵĂůŝƚLJ^LJƐƚĞŵƐdžĐĞůůĞŶĐĞǁĂƌĚƐĨŽƌDĂŶƵĨĂĐƚƵƌŝŶŐ  ZĂŶŬĞĚĮƌƐƚĂŶĚƐĞĐŽŶĚŝŶƚŚĞ//ZĞŐŝŽŶĂůtŽƌŬ^ŬŝůůƐ ϮϬϭϮ͗ǁĂƌĚĞĚƚŚĞĞƌƟĮĐĂƚĞŽĨƉƉƌĞĐŝĂƟŽŶ ŽŵƉĞƟƟŽŶ 'ƌĞĞŶƚĞĐŚŶǀŝƌŽŶŵĞŶƚǁĂƌĚϮϬϭϮ͗tŽŶĂŶĂǁĂƌĚŝŶ'ŽůĚ  tŽŶƚŚĞĞƐƚ^ZdžŚŝďŝƟŽŶǁĂƌĚϮϬϭϮͲϭϯŽīĞƌĞĚďLJ ĂƚĞŐŽƌLJƵŶĚĞƌƚŚĞDĞƚĂůĂŶĚDŝŶŝŶŐ^ĞĐƚŽƌ //͕ŶŐƵů͕KĚŝƐŚĂ 'ƌĞĞŶƚĞĐŚ,ZdžĐĞůůĞŶĐĞ'ŽůĚǁĂƌĚϮϬϭϮ͗ Conferred Conferred with the Best Power Industry Award 2012 by ǁŝƚŚƚŚĞĂǁĂƌĚĨŽƌdƌĂŝŶŝŶŐdžĐĞůůĞŶĐĞĂŶĚ/ŶŶŽǀĂƟŽŶŝŶ KĚŝĂdĞůĞǀŝĞǁĞƌƐ ŵƉůŽLJĞĞƐZĞƚĞŶƟŽŶ^ƚƌĂƚĞŐŝĞƐ  ĞƐƚŽǁĞĚǁŝƚŚƚŚĞ'ŽůĚĞŶWĞĂĐŽĐŬEĂƟŽŶĂů^ZǁĂƌĚ  tŽŶƚŚĞdŚŝŶŬKĚŝƐŚĂ>ĞĂĚĞƌƐŚŝƉǁĂƌĚŽŶ^ZŽīĞƌĞĚďLJ 2012 TEFLA and Times of India  :^W>͕ŶŐƵůǁĂƐĂǁĂƌĚĞĚƚŚĞdŚŝŶŬKĚŝƐŚĂ>ĞĂĚĞƌƐŚŝƉ  ĞƐƚŽǁĞĚǁŝƚŚƚŚĞWůĂƟŶƵŵǁĂƌĚŝŶƚŚĞϯƌĚŶŶƵĂů Award on CSR by TEFLA and Times of India for 2008, 2009, Greentech HR Award 2013 2010, 2011 and 2012

40 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ǁĂƌĚƐĂŶĚZĞĐŽŐŶŝƟŽŶ Human Capital

ŽͲĐƌĞĂƟŶŐsĂůƵĞ

'ƌĂĚƵĂƚĞŶŐŝŶĞĞƌdƌĂŝŶĞĞƐĂƚ:^W>

/ŶĂŐůŽďĂůĞŶƚĞƌƉƌŝƐĞůŝŬĞ:^W>͕ƚŚĞŬĞLJƚŽƐƵƐƚĂŝŶĂďŝůŝƚLJŝƐƚŽĨŽƐƚĞƌĂĐƵůƚƵƌĞŽĨ ĐŽůůĂďŽƌĂƟŽŶĂŶĚĐŽͲĐƌĞĂƟŽŶĂŵŽŶŐŽƵƌǁŝĚĞůLJĚŝƐƉĞƌƐĞĚĞŵƉůŽLJĞĞďĂƐĞ͘tĞĂƌĞ ďƵŝůĚŝŶŐĂŶŽƌŐĂŶŝƐĂƟŽŶƚŚĂƚŝƐĨŽĐƵƐĞĚŽŶůĞĂƌŶŝŶŐĂŶĚůĞǀĞƌĂŐŝŶŐŝƚƐĐŽůůĞĐƟǀĞ ĞdžƉĞƌŝĞŶĐĞĂŶĚĞdžƉĞƌƟƐĞĞīĞĐƟǀĞůLJ͘

DĂũŽƌŝŶŝƟĂƟǀĞƐƵŶĚĞƌƚĂŬĞŶĚƵƌŝŶŐƚŚĞLJĞĂƌĐŽŵƉƌŝƐĞƚŚĞ dŚŝƐƉƌŽŐƌĂŵŵĞŽīĞƌƐƚŚĞůĞĂĚĞƌĂƵƐŝŶĞƐƐƌĞĂŬƚŚƌŽƵŐŚ ĨŽůůŽǁŝŶŐ͗ WƌŽũĞĐƚ;dWͿƚŽƉƌŽǀŝĚĞĞdžƉŽƐƵƌĞƚŽĨƵƚƵƌĞƌĞƐƉŽŶƐŝďŝůŝƚLJ͘ We have also set up a Learning Lab to support our people  >͗dŚĞĮƌƐƚƉŚĂƐĞŽĨƚŚĞŽŵƉĂŶLJ͛Ɛ>ĞĂĚĞƌƐŚŝƉ ŽŶ>ĞĂĚĞƌƐŚŝƉWĞƌƐƉĞĐƟǀĞ͕ƐƵĐŚĂƐDĂŶĂŐŝŶŐ^ĞůĨ͕DĂŶĂŐŝŶŐ džƉůŽƌĂƟŽŶŶĚĞǀĞůŽƉŵĞŶƚ;>ͿƉƌŽŐƌĂŵŵĞ͕ŝŶ KƚŚĞƌƐĂŶĚDĂŶĂŐŝŶŐŚĂŶŐĞĂŶĚĂŶdžĞĐƵƟǀĞŽĂĐŚƚŽ ƉĂƌƚŶĞƌƐŚŝƉǁŝƚŚDĐ<ŝŶƐĞLJ͕ŝŶĚƵĐƚĞĚŽǀĞƌϮϬϬƉĞŽƉůĞ͘ ŐƵŝĚĞƚŚĞŵ͕ǁŚĞŶĞǀĞƌƌĞƋƵŝƌĞĚ͘ LEAD’s module is based on business partnership and ƉƌŝŶĐŝƉůĞƐŽĨƉƌŽĚƵĐƟǀŝƚLJ͕ƉƌŽĮƚĂďŝůŝƚLJĂŶĚŵĂdžŝŵŝƐŝŶŐ  ƌĞǁĂƌĚĂŶĚƌĞĐŽŐŶŝƟŽŶƉƌŽŐƌĂŵŵĞ;ĂƚĂůůůĞǀĞůƐͿŚĂƐďĞĞŶ ƌĞƐŽƵƌĐĞƵƟůŝƐĂƟŽŶ͘dŚĞĞŶƟƌĞ>ƉƌŽŐƌĂŵŵĞŝƐďĂƐĞĚŽŶ ŽƌŐĂŶŝƐĞĚƚŽƌĞŝŶĨŽƌĐĞǀĂůƵĞƐŽŶĂƐƵƐƚĂŝŶĂďůĞďĂƐŝƐ͘dŚŝƐ ĮĞůĚΘĨŽƌƵŵĂƉƉƌŽĂĐŚŽƌĚƵůƚ>ĞĂƌŶŝŶŐWƌŝŶĐŝƉůĞƐŽĨϳϬ͗ ƐŚĂůůŵŽƟǀĂƚĞĞŵƉůŽLJĞĞƐĂŶĚĞŶĐŽƵƌĂŐĞƚŚĞŵƚŽǁĂƌĚƐ ϮϬ͗ϭϬƚŚĂƚůĞǀĞƌĂŐĞĞdžƉĞƌŝĞŶĐĞ͕ĞdžƉŽƐƵƌĞĂŶĚĞĚƵĐĂƟŽŶ͘ ŐƌĞĂƚĞƌĐŽŶƚƌŝďƵƟŽŶĂŶĚŽǁŶĞƌƐŚŝƉ͘

41 Annual Report 2012-13 ĚǀĂŶĐŝŶŐ^ŽĐŝĂů tĞůůďĞŝŶŐ tĞďĞůŝĞǀĞďƵƐŝŶĞƐƐ and society can ĂůǁĂLJƐƐƚƌĞŶŐƚŚĞŶ ĞĂĐŚŽƚŚĞƌ͕ǁŚĞŶ ƚŚĞLJĂƌĞŝŶƚĞŐƌĂƚĞĚŝŶ ŵƵƚƵĂůůLJƌĞŝŶĨŽƌĐŝŶŐ ƉĂƌƚŶĞƌƐŚŝƉƐ͘

ƚ:^W>͕ŽƵƌĐŽŵŵƵŶŝƚLJŝŶŝƟĂƟǀĞƐĂƌĞĞdžƚƌĞŵĞůLJ ƌĞůĞǀĂŶƚƚŽĂƉĂƌƟĐƵůĂƌŐĞŽŐƌĂƉŚLJĂŶĚƚŚĞůŽĐĂů ƉĞŽƉůĞ͘KƵƌŝŶŝƟĂƟǀĞƐĂƌĞŚĞůƉŝŶŐĂĐĐĞůĞƌĂƚĞ ĞĚƵĐĂƟŽŶ͕ŚĞĂůƚŚĐĂƌĞĂŶĚĞŵƉůŽLJĂďŝůŝƚLJ ŶĂƟŽŶĂůůLJĂŶĚŝŶƚĞƌŶĂƟŽŶĂůůLJ͘

India ĐĐĞůĞƌĂƟŶŐWŽƐŝƟǀĞ,ĞĂůƚŚKƵƚĐŽŵĞƐ

ZĂŝŐĂƌŚ  džĂŵŝŶĞĚĂŶĚƚƌĞĂƚĞĚϯ͕ϰϰϱƉĞƌƐŽŶƐƚŚƌŽƵŐŚŵƵůƟͲƐƉĞĐŝĂůƚLJ mega health camps Provided free medicines and examined 8,335 persons round the year with a mobile medical van  ŽŶĚƵĐƚĞĚϯϮďĞŚĂǀŝŽƵƌĂůĐŚĂŶŐĞĐŽŵŵƵŶŝĐĂƟŽŶĂŶĚ ĂǁĂƌĞŶĞƐƐĐĂŵƉƐ;ƐŬŝƚƉůĂLJƐͿŽŶƉŽƉƵůĂƟŽŶĐŽŶƚƌŽůĂŶĚ ĨĂŵŝůLJƉůĂŶŶŝŶŐƵŶĚĞƌƚŚĞEĂƟŽŶĂůWŽƉƵůĂƟŽŶŽŶƚƌŽů Programme  ŽŶĚƵĐƚĞĚϮ͕ϳϬϭŽƉĞƌĂƟŽŶƐĨŽƌƉĞƌŵĂŶĞŶƚƐƚĞƌŝůŝƐĂƟŽŶŝŶ ĐŽůůĂďŽƌĂƟŽŶǁŝƚŚƚŚĞŐŽǀĞƌŶŵĞŶƚ͛ƐŚĞĂůƚŚĚĞƉĂƌƚŵĞŶƚ  WƌŽǀŝĚĞĚĮŶĂŶĐŝĂůƐƵƉƉŽƌƚƚŽϮϯϬďĞŶĞĮĐŝĂƌŝĞƐĨŽƌĐƌŝƟĐĂů cases like heart, kidney and other surgical procedures  KƉĞƌĂƚĞĚϳϵƉĂƟĞŶƚƐĨŽƌĐĂƚĂƌĂĐƚƵŶĚĞƌƚŚĞďůŝŶĚŶĞƐƐ ĞƌĂĚŝĐĂƟŽŶƉƌŽŐƌĂŵŵĞ  ŽŶĚƵĐƚĞĚŽƉĞƌĂƟŽŶƐŽŶϯ͕ϱϭϳƉĞƌƐŽŶƐĨŽƌŚLJĚƌŽĐĞůĞ ĂŶĚŚĞƌŶŝĂŝŶĐŽůůĂďŽƌĂƟŽŶǁŝƚŚƚŚĞŐŽǀĞƌŶŵĞŶƚ͛ƐŚĞĂůƚŚ department  KƌŐĂŶŝƐĞĚŽǀĞƌϯϱƉƌŽŐƌĂŵŵĞƐŽŶ,/sͬ/^ǁŝƚŚĚŝƐƚƌŝďƵƟŽŶ of free condoms  ŽůůĞĐƚĞĚϭϭϲƵŶŝƚƐŽĨďůŽŽĚďLJĐŽŶĚƵĐƟŶŐǀĂƌŝŽƵƐďůŽŽĚ ĚŽŶĂƟŽŶĐĂŵƉƐ DƵůƟͲƐƉĞĐŝĂůƚLJŵĞŐĂŚĞĂůƚŚĐĂŵƉ͕ZĂŝŐĂƌŚ

ŶŐƵů  /ŶŝƟĂƚĞĚ͚ĂŶĐŚĂů͕͛ĂDŽƚŚĞƌĂŶĚŚŝůĚĂƌĞWƌŽŐƌĂŵŵĞ͕ŝŶ ƉĂƌƚŶĞƌƐŚŝƉǁŝƚŚŝůůĂ^ǁĂƐƚŚLJĂ^ĂŵŝƟ͕EĂƟŽŶĂůZƵƌĂů,ĞĂůƚŚ DŝƐƐŝŽŶĂŶĚƚŚĞĚŝƐƚƌŝĐƚĂĚŵŝŶŝƐƚƌĂƟŽŶ  /ŶƚƌŽĚƵĐĞĚDŽƚŚĞƌĂŶĚŚŝůĚ,ĞĂůƚŚdƌĂĐŬŝŶŐƚŚƌŽƵŐŚĂ ĐŽŵƉƵƚĞƌŝƐĞĚƐŽŌǁĂƌĞĂŶĚ^D^ĐŽŵŵƵŶŝĐĂƟŽŶ͖ϭ͕ϯϮϳ pregnant women registered under the scheme Provided dietary supplements to babies with low birth weight to minimise infant mortality rate Commenced ‘Kishori Express’ to help improve the health of adolescent girls and would-be mothers through regular medical check-ups, haemoglobin monitoring, awareness ĐƌĞĂƟŽŶĂŶĚŶƵƚƌŝƟŽŶƐƵƉƉůĞŵĞŶƚĂƟŽŶ  /ŶŝƟĂƚĞĚĞdžƚĞŶƐŝǀĞ,/sͬ/^ĐŽŶƚƌŽůƉƌŽŐƌĂŵŵĞ;ŶŐƵů͕ ŝĚĞŶƟĮĞĚĂƐĂŶĐĂƚĞŐŽƌLJĚŝƐƚƌŝĐƚďLJEK͕ŚĂƐŚŝŐŚ ƐĞŶƐŝƟǀŝƚLJͿĐŽǀĞƌŝŶŐĂůŵŽƐƚϲ͕ϬϬϬƉĞŽƉůĞ  /ŶŝƟĂƚĞĚ͚DĂŵƚĂŝǁĂƐ͕͛ĂŶEZ,DƉƌŽŐƌĂŵŵĞĐŽŶĐĞƉƚĨŽƌ Mother and Child Care held regularly on the 15th of every month  ŽŶĚƵĐƚĞĚĂǁĂƌĞŶĞƐƐĐĂŵƉĂŝŐŶŽŶƉƌĞǀĞŶƟŽŶĂŶĚĐŽŶƚƌŽů of dengue covering 131 villages Medical check-up camp, Angul

44 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Social Responsibility

dĂŵŶĂƌ;ZĂŝŐĂƌŚͿͲDŝŶĞƐƌĞĂ Examined and treated 2,296 persons through mega health camps Examined over 12,000 people in an areas close to the mines through the mobile medical van  dƌĞĂƚĞĚ;ŝŶĐůƵĚŝŶŐZd/͕^d/ƚƌĞĂƚŵĞŶƚ͕ĂŶĂĞŵŝĂĐŽƌƌĞĐƟŽŶ for adolescent girls through school health check-up camps, ĂŶƚĞŶĂƚĂůĐĂƌĞ;EƐͿΘĨĂŵŝůLJƉůĂŶŶŝŶŐĐŽƵŶƐĞůůŝŶŐĂŶĚ ƉƌŽǀŝĚĞĚĨƌĞĞŵĞĚŝĐŝŶĞƐƚŽƚŚĞďĞŶĞĮĐŝĂƌŝĞƐ Collected 46 units of blood from voluntary blood ĚŽŶĂƟŽŶĐĂŵƉƐ  WƌŽǀŝĚĞĚĮŶĂŶĐŝĂůƐƵƉƉŽƌƚƚŽϭϱϰďĞŶĞĮĐŝĂƌŝĞƐĨŽƌĐƌŝƟĐĂů ĐĂƐĞƐ͕ǀŝnj͘ŚĞĂƌƚĂŶĚŬŝĚŶĞLJƐƵƌŐĞƌŝĞƐ  WƌŽǀŝĚĞĚůŝǀĞƐƚŽĐŬĐĂƌĞƚŽϰ͕ϬϭϭĚŽŵĞƐƟĐĂŶŝŵĂůƐƚŚƌŽƵŐŚ ĂŶŝŵĂůŚƵƐďĂŶĚƌLJĐĂŵƉƐ͕ŝŶĐŽůůĂďŽƌĂƟŽŶǁŝƚŚƚŚĞ government’s veterinary department

DĞĚŝĐĂůĐŚĞĐŬͲƵƉƐĂƚĚŽŽƌƐƚĞƉƐĂƚdĂŵŶĂƌŵŝŶĞƐĂƌĞĂ

Patratu

 ŽŶĚƵĐƚĞĚĚĂŝůLJǀŝůůĂŐĞŚĞĂůƚŚĐĂŵƉƐ;EŽ͘ŽĨĐĂŵƉƐͲϮϳϱĂŶĚ EŽ͘ŽĨďĞŶĞĮĐŝĂƌŝĞƐͲϱ͕ϴϲϬͿ Provided referral services through ambulance for 201 people  /ŶŝƟĂƚĞĚW,>ʹĂƉŽƉƵůĂƟŽŶƐƚĂďŝůŝƐĂƟŽŶƉƌŽŐƌĂŵŵĞ;ddͲ ϰϯϱĂŶĚE^sͲϮϱͿ  ĂƚĂůLJƐĞĚƚŚĞƌŝƐƟWƌŽŐƌĂŵŵĞ͕ĐŽŶĚƵĐƟŶŐĐĂƚĂƌĂĐƚ ŽƉĞƌĂƟŽŶƐĨŽƌϰϯďĞŶĞĮĐŝĂƌŝĞƐŝŶƚŚĞǀŝůůĂŐĞ  ĞůĞďƌĂƚĞĚWƵŶLJĂdŝƚŚŝŽĨĂďƵũĞĞďLJŽƌŐĂŶŝƐŝŶŐůŽŽĚ ŽŶĂƟŽŶWƌŽŐƌĂŵŵĞǁŚĞƌĞŽǀĞƌϮϮϰƉĞŽƉůĞĚŽŶĂƚĞĚďůŽŽĚ Organised an eye check-up test camp and distributed eyeglasses on the occasion of birth anniversary of our ďĞůŽǀĞĚĂďƵũĞĞ͕ďĞŶĞĮƟŶŐŽǀĞƌϮϬϬƉĞŽƉůĞ Supported Red Ribbon Express, a campaign organised by NACO, Delhi and Jharkhand State AIDS Control Society ;:^^Ϳ͕ZĂŶĐŚŝ͕ƚŽĚƌŝǀĞĂǁĂƌĞŶĞƐƐŽŶ,/sͬ/^

Health camp at Patratu

45 Annual Report 2012-13 Ăƌďŝů

Providing children healthcare support

Provided free ambulances across several villages  /ŶŝƟĂƚĞĚŝŵŵƵŶŝƐĂƟŽŶƉƌŽŐƌĂŵŵĞŝŶϭϱǀŝůůĂŐĞƐŝŶ Conducted several health camps in more than 30 villages partnership with the government Organised specialised camps for eye care, gynaecology and Arranged for an ambulance to address urgent medical issues dental care Held various family planning services in partnership with the government

<ĞLJ,ĞĂůƚŚ/ŶŝƟĂƟǀĞƐ ŵĞƌŐĞŶĐLJŵďƵůĂŶĐĞ^ĞƌǀŝĐĞƐ;,ĞůƉůŝŶĞϮϰdžϳͿ ,/sǁĂƌĞŶĞƐƐƚŚƌŽƵŐŚNukkad Natak dŽĞŶƐƵƌĞďĞƐƚƉŽƐƐŝďůĞŚĞĂůƚŚĐĂƌĞĨĂĐŝůŝƟĞƐĨŽƌƚŚĞƉĞŽƉůĞ dŚĞŽŵƉĂŶLJĂĐƟǀĞůLJƉĂƌƟĐŝƉĂƚĞĚŝŶĞǀĞŶƚƐƚŽŝŶĐƌĞĂƐĞ ǁŝƚŚŝŶƚŚĞǀŝĐŝŶŝƚLJŽĨƚŚĞƉůĂŶƚ͕ƚŚĞŽŵƉĂŶLJŝŶŝƟĂƚĞĚĂŶ ĂǁĂƌĞŶĞƐƐĂďŽƵƚ,/sͬ/^ĂŵŽŶŐƚŚĞLJŽƵƚŚ͕ĨĂĐŝůŝƚĂƟŶŐĐŚĂŶŐĞ emergency ambulance service with experienced medical ŝŶĂƫƚƵĚĞĂŶĚďĞŚĂǀŝŽƵƌ͘KŶƚŚĞŽĐĐĂƐŝŽŶŽĨtŽƌůĚŝĚƐĂLJ ƐƚĂī͘/ƚŝƐďĂĐŬĞĚďLJĂϮϰdžϳŚĞůƉůŝŶĞƚŽĞŶŚĂŶĐĞĞĂƐLJĂĐĐĞƐƐƚŽ ;ϭƐƚĞĐĞŵďĞƌ͕ϮϬϭϮͿ͕ƚŚĞŽŵƉĂŶLJ͛Ɛ^ZĂƌŵŽƌŐĂŶŝƐĞĚEƵŬŬĂĚ ďĞƩĞƌŚĞĂůƚŚĐĂƌĞƐĞƌǀŝĐĞƐ͘ NatakŽƌƐƚƌĞĞƚƉůĂLJĂƚĮǀĞůŽĐĂƟŽŶƐ͕ŶĂŵĞůLJĂƚKW:ŝŶĚĂů^ĐŚŽŽů͕ KW:͕ĞǁĂƌŝLJĂDŽƌĞ͕:ĂŝŶĂŐĂƌĂŶĚ>ĂďŐĂ͘ ůŽŽĚŽŶĂƟŽŶĂŵƉ hŶĚĞƌƐƚĂŶĚŝŶŐƚŚĞĐƌŝƟĐĂůŝƚLJŽĨďůŽŽĚ͕ĐŽƵƉůĞĚǁŝƚŚŐƌŽǁŝŶŐ ŵĞĚŝĐĂůĐŽŵƉůĞdžŝƟĞƐ͕ƚŚĞŽŵƉĂŶLJŽƌŐĂŶŝƐĞĚƐĞǀĞƌĂůďůŽŽĚ ĚŽŶĂƟŽŶĐĂŵƉƐ͘^ŝŵŝůĂƌĐĂŵƉƐĂƌĞĂůƐŽŽƌŐĂŶŝƐĞĚĞǀĞƌLJLJĞĂƌƚŽ ŵĂƌŬƚŚĞĂƵƐƉŝĐŝŽƵƐŽĐĐĂƐŝŽŶŽĨĂďƵũĞĞ͛ƐPunya Tithi͘ƵƌŝŶŐ the year under review, 224 units of blood were collected across ŵƵůƟƉůĞůŽĐĂƟŽŶƐĨƌŽŵĚŝīĞƌĞŶƚĐĂŵƉƐ͘

46 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Social Responsibility

K͘W͘:ŝŶĚĂů,ŽƐƉŝƚĂůΘZĞƐĞĂƌĐŚĞŶƚƌĞ

ĂƚĂƌĂĐƚKƉĞƌĂƟŽŶĂŵƉ Hospitals Since 2009, the Company has been organising regular camps dŚĞŽŵƉĂŶLJŚĂƐƐĞƚƵƉƐĞǀĞƌĂůĐŚĂƌŝƚĂďůĞĐůŝŶŝĐƐĂŶĚŚŽƐƉŝƚĂůƐ ƚŽĨĂĐŝůŝƚĂƚĞĐĂƚĂƌĂĐƚŽƉĞƌĂƟŽŶĨŽƌĂŐĞĚƉĞŽƉůĞĂĐƌŽƐƐϭϱŽĨŝƚƐ ĂĐƌŽƐƐŝƚƐĂƌĞĂƐŽĨŽƉĞƌĂƟŽŶ͘ŵŽŶŐƚŚĞŵ͕ƚŚĞK͘W͘:ŝŶĚĂů ŽƉĞƌĂƟŽŶĂůǀŝůůĂŐĞƐ͘/ƚĂůƐŽĐŽŶĚƵĐƚƐĞǀĞŶƚƐƚŽĚƌŝǀĞŶĞĐĞƐƐĂƌLJ ,ŽƐƉŝƚĂůΘZĞƐĞĂƌĐŚĞŶƚƌĞĚĞƐĞƌǀĞƐƐƉĞĐŝĂůŵĞŶƟŽŶ͘dŚĞϭϬϬͲ ƉƵďůŝĐĂǁĂƌĞŶĞƐƐĂďŽƵƚƉƌĞǀĞŶƟŽŶĂŶĚƟŵĞůLJƚƌĞĂƚŵĞŶƚŽĨĐĂƚĂ- ďĞĚŵƵůƟͲƐƉĞĐŝĂůƚLJŚŽƐƉŝƚĂůŚĂƐǀĂƌŝŽƵƐĚŝƐĐŝƉůŝŶĂƌLJĚĞƉĂƌƚŵĞŶƚƐ ƌĂĐƚ͕ĂƉĂƌƚĨƌŽŵƉƌŽǀŝĚŝŶŐŐĞŶĞƌĂůĞLJĞĐĂƌĞŬŶŽǁůĞĚŐĞ͘ ůŝŬĞƐƵƌŐĞƌLJ͕ŐLJŶĂĞĐŽůŽŐLJ͕ŽƌƚŚŽƉĞĚŝĐƐĂŶĚƉĞĚŝĂƚƌŝĐƐ͘

W,>ʹWŽƉƵůĂƟŽŶ^ƚĂďŝůŝƐĂƟŽŶWƌŽŐƌĂŵŵĞ dŚĞĂǁĂƌĞŶĞƐƐƉƌŽŐƌĂŵŵĞƐŚĞůƉĞĚƚŽŝŵƉĂƌƚƚŚĞŬŶŽǁůĞĚŐĞ ŽĨĨĂŵŝůLJƉůĂŶŶŝŶŐĂŵŽŶŐƉĞŽƉůĞ͕ĂĚĚƌĞƐƐŝŶŐƚŚĞŝƌĂƫƚƵĚĞĂŶĚ ďĞůŝĞĨŝŶƚŚĞĐŽŶĐĞƉƚ͘

Anaemia Control in Adolescent Girls dŚĞŽŵƉĂŶLJŝŶŝƟĂƚĞĚĚƌŝǀĞƐƚŽĐŽŶƚƌŽůĂŶĂĞŵŝĂŝŶĂĚŽůĞƐĐĞŶƚ ŐŝƌůƐƚŚƌŽƵŐŚŝƚƐǀĂƌŝŽƵƐƉƌŝŵĂƌLJŚĞĂůƚŚĐĞŶƚƌĞƐĂŶĚƐƵďͲĐĞŶƚƌĞƐ͘ dŚĞƉƌŽŐƌĂŵŵĞĞŶƐƵƌĞĚƚŚĞƐƵƉƉŽƌƚŽĨǀĂƌŝŽƵƐĚĞƉĂƌƚŵĞŶƚƐ ŝŶŝŵƉůĞŵĞŶƟŶŐƚŚĞĚŝĞƚĂƌLJŵŽĚŝĮĐĂƟŽŶĂŶĚƐƵƉƉůĞŵĞŶƚĂƟŽŶ ŵĞĂƐƵƌĞƐƚŽƌĞĚƵĐĞƚŚĞĚŝƐĞĂƐĞƚŽƚŚĞďĞƐƚƉŽƐƐŝďůĞĞdžƚĞŶƚ͘

47 Annual Report 2012-13 ,ĞůƉŝŶŐƵŝůĚĂ<ŶŽǁůĞĚŐĞͲƌŝǀĞŶ^ŽĐŝĞƚLJ

ZĂŝŐĂƌŚ  ^ƉŽŶƐŽƌĞĚϴϯĐŽŵŵƵŶŝƚLJƚĞĂĐŚĞƌƐ͕ďĞŶĞĮƟŶŐϰϬ government schools and about 8,000 students residing in villages located on the plant’s periphery  ^ƵƉƉŽƌƚĞĚϭϵŵĞƌŝƚŽƌŝŽƵƐƐƚƵĚĞŶƚƐĮŶĂŶĐŝĂůůLJĨŽƌ ƉƌŽĨĞƐƐŝŽŶĂůĞĚƵĐĂƟŽŶĂŶĚƉƌŽǀŝĚĞĚĐŽŵƉƵƚĞƌĞĚƵĐĂƟŽŶ to 82 students from schedule caste & schedule tribe background  ƐƚĂďůŝƐŚĞĚƐĞǀĞŶĂĚƵůƚůŝƚĞƌĂĐLJĐĞŶƚƌĞƐ͕ďĞŶĞĮƟŶŐϮϳϭ women  ŽĂĐŚĞĚϮϴϱƐƚƵĚĞŶƚƐ;ϭϬнϮͿƐƉĞĐŝĂůůLJƚŽŚĞůƉƚŚĞŵƉƌĞƉĂƌĞ ĨŽƌĞŶŐŝŶĞĞƌŝŶŐ͕ŵĞĚŝĐĂůĂŶĚŽƚŚĞƌĞdžĂŵŝŶĂƟŽŶƐ Spreading literacy

dĂŵŶĂƌ;ZĂŝŐĂƌŚͿͲDŝŶĞƐƌĞĂ  ^ƚĂƌƚĞĚĞdžƚĞŶĚŝŶŐƚŚĞK͘W:ŝŶĚĂů^ĐŚŽŽů;ƉƌŝŵĂƌLJǁŝŶŐͿĨŽƌ ĐŚŝůĚƌĞŶƚŽũƵŶŝŽƌŚŝŐŚƐĐŚŽŽůůĞǀĞů  ^ƉŽŶƐŽƌĞĚϯϬĐŽŵŵƵŶŝƚLJƚĞĂĐŚĞƌƐ͕ďĞŶĞĮƟŶŐϮϭ government schools and about 3,000 students in the villages on the periphery of the mines Supported 12 meritorious students from the mines area ĮŶĂŶĐŝĂůůLJƚŽŚĞůƉƚŚĞŵŐĞƚƉƌŽĨĞƐƐŝŽŶĂůĞĚƵĐĂƟŽŶ  /ŵƉĂƌƚĞĚĐŽŵƉƵƚĞƌĞĚƵĐĂƟŽŶƚŽϱϰƐƚƵĚĞŶƚƐůŝǀŝŶŐŶĞĂƌƚŚĞ ŵŝŶĞƐǁŝƚŚƐƉĞĐŝĂůĨŽĐƵƐŽŶ^ͬ^dƐƚƵĚĞŶƚƐ  ^ƚĂƌƚĞĚƚŚƌĞĞĂĚƵůƚůŝƚĞƌĂĐLJĐĞŶƚƌĞƐ͕ďĞŶĞĮƟŶŐϭϭϲǁŽŵĞŶĂƚ villages close to the mines K͘W͘:ŝŶĚĂů^ĐŚŽŽů

Patratu Established seven new English-speaking centres, enrolling 300 students  dƌĂŝŶĞĚϱϴƚĞĂĐŚĞƌƐĨƌŽŵϮϴƐĐŚŽŽůƐŝŶĂƚǁŽͲĚĂLJĐĂƉĂĐŝƚLJ building programme at OPJCC  KƌŐĂŶŝƐĞĚĚƌĂǁŝŶŐĂŶĚĞƐƐĂLJĐŽŵƉĞƟƟŽŶĂƚƐŝdžůŽĐĂƟŽŶƐ on World Environment Day and Child Labour Day, with a ƉĂƌƟĐŝƉĂƟŽŶŽĨϭ͕ϭϱϬƐƚƵĚĞŶƚƐĨƌŽŵϭϱŽƉĞƌĂƟŽŶĂůǀŝůůĂŐĞƐ  ƌƌĂŶŐĞĚĂ^ĐŝĞŶĐĞdžŚŝďŝƟŽŶĂƚDĂĂWĂŶĐŚĂŚŝŶŝ^ĐŚŽŽů ǁŚĞƌĞŵŽƌĞƚŚĂŶϵϬϬƐƚƵĚĞŶƚƐĨƌŽŵϮϴƐĐŚŽŽůƐƉĂƌƟĐŝƉĂƚĞĚ͘ dŚĞĞdžŚŝďŝƟŽŶǁĂƐĂƩĞŶĚĞĚďLJ^Śƌŝs͘Z͘^ŚĂƌŵĂ;DΘ K͕^ƚĞĞůƵƐŝŶĞƐƐ͕:^W>Ϳ  ƐƚĂďůŝƐŚĞĚĂĐŽĂĐŚŝŶŐĐĞŶƚƌĞŝŶĐŽůůĂďŽƌĂƟŽŶǁŝƚŚ^ĂĐŚĚĞǀĂ /ŶƐƟƚƵƚĞƚŽŚĞůƉϯϱƐƚƵĚĞŶƚƐƉƌĞƉĂƌĞĨŽƌĐŽŵƉĞƟƟǀĞ dĞĂĐŚĞƌƐŝŶƚĞƌĂĐƟŶŐǁŝƚŚƐƚƵĚĞŶƚƐ ĞdžĂŵŝŶĂƟŽŶƐ

48 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Social Responsibility

ŶŐƵů Partnered with the Government to set up 23 vernacular medium schools covering 6,500 students  WƌŽŵŽƚĞĚĞĚƵĐĂƟŽŶŽĨŐŝƌůĐŚŝůĚ Partnered with an NGO, the John Augustus Prison and Social Welfare Services, to provide 10,000 school books every year to the children of the poor convicts in Odisha’s prisons Imparted computerised learning sessions in two villages, ďĞŶĞĮƟŶŐϳϬϬŚŽƵƐĞŚŽůĚƐ Worked for the development of children in 40 ŶŐĂŶǁĂĚŝ ĐĞŶƚƌĞƐƐƉƌĞĂĚĂĐƌŽƐƐϮϳǀŝůůĂŐĞƐĂŶĚďĞŶĞĮƚĞĚϰϬ households  ĚŵŝƩĞĚϲϯƐƚƵĚĞŶƚƐĨƌŽŵĂƌĂŵďŚĂĐƌğĐŚĞĐƵŵƐĐŚŽŽůĨŽƌ the children of labourers - into the Jindal Vidyapith WƌŽŵŽƟŶŐĞĚƵĐĂƟŽŶŽĨŐŝƌůĐŚŝůĚ  ĚŵŝƩĞĚϱϬĐŚŝůĚƌĞŶƚŽĂƌĂŵďŚĂ^ĐŚŽŽůĂŶĚϯϬĐŚŝůĚƌĞŶŝŶ WƌĂƌĂŵďŚ͕ďĞŶĞĮƟŶŐϱϬŚŽƵƐĞŚŽůĚƐŝŶƚŚĞůĂďŽƵƌĐŽůŽŶLJ Conducted a community teachers’ training programme, ŝŶĐŽůůĂďŽƌĂƟŽŶǁŝƚŚƚŚĞĞƉĂƌƚŵĞŶƚŽĨ^ĐŚŽŽůĂŶĚDĂƐƐ ĚƵĐĂƟŽŶ͕ĂŶĚ^ĂƌǀĂ^ŝŬŚƐŚĂďŚŝLJĂŶ͕ŶŐƵů  /ŵƉĂƌƟŶŐƌĞŐƵůĂƌzŽŐŝĐWƌĂĐƟĐĞƐ͕^ƉŝƌŝƚƵĂůtĂLJŽĨ>ŝĨĞĂŶĚ ŵŽƌĂůĞĚƵĐĂƟŽŶƚŽŽǀĞƌϮ͕ϱϬϬƐƚƵĚĞŶƚƐĂĐƌŽƐƐϭϵƐĐŚŽŽůƐ through Art of Living

Ăƌďŝů

 /ŵƉĂƌƚĞĚĞĚƵĐĂƟŽŶĂƚƉƌŝŵĂƌLJĂŶĚŚŝŐŚĞƌƐĐŚŽŽůƐŝŶhW͖ ƌĞĐƌƵŝƚĞĚĂĚĚŝƟŽŶĂůƚĞĂĐŚĞƌƐĂŶĚƉƌŽǀŝĚĞĚƐƟƉĞŶĚƐǁŽƌƚŚ `ϭϯ͘ϵϰůĂĐƐƚŽŵĞƌŝƚŽƌŝŽƵƐƐƚƵĚĞŶƚƐŝŶϮϬϭϮͲϭϯ Spent around ` ϱϬůĂĐƐƚŽĨĂĐĞůŝŌ/d/ŽůůĞŐĞĂƚĂƌďŝůƚŽ empower higher studies Spent ` 60 lacs to construct science labs at Jhumpura and Remuli College Provided scholarships worth `ϮůĂĐƐďĞŶĞĮƟŶŐϭϬƐƚƵĚĞŶƚƐ Renovated nine ŶŐĂŶǁĂĚŝCentres at the cost of `ϭϰ͘ϱůĂĐƐ  ^ƵƉƉŽƌƚĞĚĂƌĞƐŝĚĞŶƟĂůƐĐŚŽŽů͕ƌƵŶďLJWĂĚŵĂƐŚƌĞĞƌ͘dƵůĂƐŝ Munda exclusively for tribal children, by funding ` 12 lacs /ŵƉĂƌƟŶŐĞĚƵĐĂƟŽŶĂƚƉƌŝŵĂƌLJĂŶĚŚŝŐŚĞƌƐĐŚŽŽůƐ

49 Annual Report 2012-13 K͘W͘:ŝŶĚĂů'ůŽďĂůhŶŝǀĞƌƐŝƚLJĂƚ^ŽŶĞƉĂƚ͕,ĂƌLJĂŶĂ

<ĞLJĚƵĐĂƟŽŶĂů/ŶŝƟĂƟǀĞƐ :ŝŶĚĂů'ůŽďĂůhŶŝǀĞƌƐŝƚLJ K͘W͘:ŝŶĚĂů/ŶƐƟƚƵƚĞŽĨdĞĐŚŶŽůŽŐLJ;:/dͿ /ŶůŝŶĞǁŝƚŚƚŚĞŵŝƐƐŝŽŶŽĨƚŚĞ&ŽƵŶĚĞƌŚĂŝƌŵĂŶ͕^ŚƌŝK͘W͘ dŚĞK͘W͘:ŝŶĚĂů/ŶƐƟƚƵƚĞŽĨdĞĐŚŶŽůŽŐLJ;KW:/dͿĂƚZĂŝŐĂƌŚŽīĞƌƐ :ŝŶĚĂů͕:^W>ŚĂƐƐĞƚƵƉƚŚĞK͘W͘:ŝŶĚĂů'ůŽďĂůhŶŝǀĞƌƐŝƚLJ;:'hͿĂŶĚ four-year undergraduate engineering programmes in mechanical, ƚŚĞ:ŝŶĚĂů'ůŽďĂů>Ăǁ^ĐŚŽŽů;:'>^Ϳ͘dŚĞĞĚƵĐĂƟŽŶĂůŝŶƐƟƚƵƟŽŶƐ ĞůĞĐƚƌŝĐĂů͕ĞůĞĐƚƌŽŶŝĐƐ͕ĐŝǀŝůĂŶĚŵĞƚĂůůƵƌŐLJĐŽƵƌƐĞƐ͘ƵƌŝŶŐ impart students and faculty with knowledge, skills, scholarship the previous year, 88% of the 204 students were recruited by and vision to meet the challenges and demands posed by ĚŝīĞƌĞŶƚĐŽŵƉĂŶŝĞƐ͘ ŐůŽďĂůŝƐĂƟŽŶ͘ :'hŝƐĂŶŽŶͲƉƌŽĮƚŐůŽďĂůhŶŝǀĞƌƐŝƚLJĞƐƚĂďůŝƐŚĞĚŝŶĐŽŵƉůŝĂŶĐĞ :ŝŶĚĂů/ŶƐƟƚƵƚĞŽĨWŽǁĞƌdĞĐŚŶŽůŽŐLJ;:/WdͿ ǁŝƚŚƚŚĞ,ĂƌLJĂŶĂWƌŝǀĂƚĞhŶŝǀĞƌƐŝƟĞƐ;^ĞĐŽŶĚŵĞŶĚŵĞŶƚͿ dŚĞ:ŝŶĚĂů/ŶƐƟƚƵƚĞŽĨWŽǁĞƌdĞĐŚŶŽůŽŐLJ;:/WdͿĂƚdĂŵŶĂƌ͕ǁŚŝĐŚ Đƚ͕ϮϬϬϵĂƚ^ŽŶŝƉĂƚ͕,ĂƌLJĂŶĂ;EZŽĨĞůŚŝͿ͘/ƚǁĂƐƐĞƚƵƉ ƚƌĂŝŶƐƐƚƵĚĞŶƚƐƚŽƵŶĚĞƌƚĂŬĞŽƉĞƌĂƟŽŶŽƌŵĂŝŶƚĞŶĂŶĐĞŽĨĂ ƚŚƌŽƵŐŚĂŐĞŶĞƌŽƵƐƉŚŝůĂŶƚŚƌŽƉŝĐŝŶŝƟĂƟǀĞŽĨ^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂů ƉŽǁĞƌƉůĂŶƚŽĨϭϬϬDtĂŶĚĂďŽǀĞĐĂƉĂĐŝƚLJ͘KĨƚŚĞϭϯϮƐƚƵĚĞŶƚƐ ;ŚĂŶĐĞůůŽƌ͕:'hͿ͘dŚĞhŶŝǀĞƌƐŝƚLJ'ƌĂŶƚƐŽŵŵŝƐƐŝŽŶ;h'ͿŚĂƐ ůĂƐƚLJĞĂƌ͕ϳϲйǁĞƌĞŐŝǀĞŶƉůĂĐĞŵĞŶƚ͘ ĂůƌĞĂĚLJĂĐĐŽƌĚĞĚƌĞĐŽŐŶŝƟŽŶƚŽƚŚĞK͘W͘:ŝŶĚĂů'ůŽďĂůhŶŝǀĞƌƐŝƚLJ͘ :'h͕ĂůŽŶŐǁŝƚŚ:'>^͕ǁŚŝĐŚŝƐ/ŶĚŝĂ͛ƐĮƌƐƚŐůŽďĂůůĂǁƐĐŚŽŽů͕ ŝƐƌĞĐŽŐŶŝƐĞĚďLJƚŚĞĂƌŽƵŶĐŝůŽĨ/ŶĚŝĂ;/Ϳ͘:'>^ŝƐĂůƐŽĂ ŵĞŵďĞƌŽĨƚŚĞŵĞƌŝĐĂŶƐƐŽĐŝĂƟŽŶŽĨ>Ăǁ>ŝďƌĂƌŝĂŶƐ;>>Ϳ ĂƐǁĞůůĂƐƚŚĞ/ŶƚĞƌŶĂƟŽŶĂůƐƐŽĐŝĂƟŽŶŽĨ>Ăǁ^ĐŚŽŽůƐ͘

50 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Social Responsibility

K͘W͘:ŝŶĚĂůŽŵŵƵŶŝƚLJŽůůĞŐĞ K͘W͘:ŝŶĚĂů^ĐŚŽŽů

K͘W͘:ŝŶĚĂůŽŵŵƵŶŝƚLJŽůůĞŐĞ ^ĐŚŽŽů dŚĞĞƐƚĂďůŝƐŚŵĞŶƚŽĨƚŚĞK͘W͘:ŝŶĚĂůŽŵŵƵŶŝƚLJŽůůĞŐĞ;KW:Ϳ dŚĞŽŵƉĂŶLJŚĂƐƐĞƚƵƉǀĂƌŝŽƵƐƐĐŚŽŽůƐƚŽŝŵƉĂƌƚďĂƐŝĐ ŝŶϮϬϭϭǁĂƐƚŚĞƌĞƐƵůƚŽĨƚŚĞŽŵƉĂŶLJ͛ƐƉŚŝůĂŶƚŚƌŽƉŝĐĂĐƟǀŝƚLJ͘ ĞĚƵĐĂƟŽŶ͘ KW:ǁĂƐƐĞƚƵƉƚŽƌĞĂůŝƐĞ^ŚƌŝK͘W͘:ŝŶĚĂů͛ƐǀŝƐŝŽŶƚŽĞĚƵĐĂƚĞ  ƐƚĂďůŝƐŚĞĚK͘W͘:ŝŶĚĂů^ĐŚŽŽů;ĂϭϬнϮĐŽͲĞĚƵĐĂƟŽŶĂůƐĐŚŽŽů and train people to get a skilled industry workforce whose ůŽĐĂƚĞĚŝŶZĂŝŐĂƌŚͿĂŶĚĞƋƵŝƉƉĞĚŝƚǁŝƚŚĂůůŵŽĚĞƌŶĨĂĐŝůŝƟĞƐ ƉĞƌĨŽƌŵĂŶĐĞƐŵĂƚĐŚŝŶƚĞƌŶĂƟŽŶĂůƐƚĂŶĚĂƌĚƐ͘dŚĞŽůůĞŐĞǁĂƐ  ZĞŶŽǀĂƚĞĚƚŚĞZĂŝŐĂƌŚ͛ƐŽůĚĞƐƚŐŝƌůƐ͛ƐĐŚŽŽůƚŽŽīĞƌďĞƩĞƌ founded under the astute leadership of CMD JSPL, ƐƚĂŶĚĂƌĚƐŽĨĞĚƵĐĂƟŽŶĂŶĚĨĂĐŝůŝƟĞƐ ^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂů͘/ƚǁĂƐŝŶŝƟĂůůLJŬŶŽǁŶĂƐƚŚĞK͘W͘:ŝŶĚĂů Upgraded school infrastructure and distributed books /ŶƐƟƚƵƚĞŽĨdĞĐŚŶŽůŽŐLJĂŶĚ^ŬŝůůƐ͘dŚĞŵŝƐƐŝŽŶŽĨƚŚŝƐŝŶƐƟƚƵƟŽŶ ĂŶĚŽƚŚĞƌĞĚƵĐĂƟŽŶĂůŵĂƚĞƌŝĂůƐŝŶƐĐŚŽŽůƐĂƚŶŐƵůĂŶĚ ŝƐ͚dŽƉƌŽŵŽƚĞůŝĨĞůŽŶŐůĞĂƌŶŝŶŐŽĨǀŽĐĂƟŽŶĂůƐŬŝůůƐĨŽƌĂůů͕ ŽƚŚĞƌƉĂƌƚƐŽĨKĚŝƐŚĂ͕WĂƚƌĂƚƵ;:ŚĂƌŬŚĂŶĚͿĂŶĚZĂŝŐĂƌŚ ŝƌƌĞƐƉĞĐƟǀĞŽĨĂŐĞ͕ĐĂƐƚĞ͕ĐƌĞĞĚ͕ŐĞŶĚĞƌ͕ƉƌŝŽƌĞĚƵĐĂƟŽŶ ;ŚŚĂƫƐŐĂƌŚͿ ĂŶĚƐŽĐŝŽĞĐŽŶŽŵŝĐĞŶǀŝƌŽŶŵĞŶƚ͛͘KW:ĞŵƉŚĂƐŝƐĞƐŽŶ  ƐƚĂďůŝƐŚĞĚĚƵůƚĚƵĐĂƟŽŶĞŶƚƌĞƐŝŶŶŐƵů͕WĂƚƌĂƚƵĂŶĚ ĞŵƉůŽLJĂďŝůŝƚLJĂƐǁĞůůĂƐĞĚƵĐĂƟŽŶĂůĂŶĚĞĐŽŶŽŵŝĐŵŽďŝůŝƚLJ͘ Raigarh sŽĐĂƟŽŶĂůƚƌĂŝŶŝŶŐƉƌŽŐƌĂŵŵĞƐƉƌĞƉĂƌĞƚŚĞƐƚƵĚĞŶƚƐĨŽƌ ĞŵƉůŽLJŵĞŶƚ͕ĞŶƚƌĞƉƌĞŶĞƵƌƐŚŝƉĂŶĚĨƵƌƚŚĞƌƐƚƵĚŝĞƐ͘dŚĞƐĞ sŽĐĂƟŽŶĂůdƌĂŝŶŝŶŐ ŝŶĐůƵĚĞƉƌŽĨĞƐƐŝŽŶƐŝŶƚŚĞĮĞůĚŽĨƉůƵŵďŝŶŐ͕ǁĞůĚŝŶŐ͕ŵĂƐŽŶƌLJ͕ ĂŝƌĐŽŶĚŝƟŽŶŝŶŐĂŶĚƌĞĨƌŝŐĞƌĂƟŽŶ͕ĞůĞĐƚƌŽŶŝĐƐ͕ĞůĞĐƚƌŝĐĂůǁŝƌŝŶŐ :^W>ƐƵƉƉŽƌƚƐƐĞůĨͲŚĞůƉŐƌŽƵƉƐĨŽƌŝŵƉĂƌƟŶŐǀŽĐĂƟŽŶĂůƚƌĂŝŶŝŶŐ ;ŝŶĚƵƐƚƌŝĂůĂŶĚŚŽŵĞͿ͕ŵĂŶƵĨĂĐƚƵƌŝŶŐĂŶĚŵĞƚĂůůƵƌŐLJ͘EƵƌƐŝŶŐ ŝŶƚĂŝůŽƌŝŶŐĂŶĚĞŵďƌŽŝĚĞƌLJďLJďĞĂƌŝŶŐĐŽƐƚƐŽĨƐƚĂī͕ŵĂƚĞƌŝĂůƐ͕ and paramedical programmes and hospitality courses have also ŝŶĨƌĂƐƚƌƵĐƚƵƌĞĂŶĚƐŽŽŶ͘^ƵĐŚƚƌĂŝŶŝŶŐƐŚĞůƉĞŵƉŽǁĞƌǁŽŵĞŶ ďĞĞŶĂĚĚĞĚƚŽƚŚĞůŝƐƚŽĨƚƌĂŝŶŝŶŐƐŽīĞƌĞĚ͘ ĨƌŽŵƚŚĞǁĞĂŬĞƌƐĞĐƟŽŶƐŽĨƚŚĞƐŽĐŝĞƚLJ͘

51 Annual Report 2012-13 ^ƚƌĞŶŐƚŚĞŶŝŶŐ^ŽĐŝĂůŵƉŽǁĞƌŵĞŶƚ

Embroidery training unit dƌĂŝŶŝŶŐǁŽŵĞŶŝŶƚĂŝůŽƌŝŶŐ

ZĂŝŐĂƌŚ  ^ĞƚƵƉĂŶƵƚƌŝƟǀĞĨŽŽĚŵĂŶƵĨĂĐƚƵƌŝŶŐƵŶŝƚĨŽƌĂŶ^,'ŽĨ 13 women from the village of Jampali  ^ƚĂƌƚĞĚƟĸŶƐĞƌǀŝĐĞƐĨŽƌĞŵƉůŽLJĞĞƐŽĨ:ŝŶĚĂů/ŶĨƌĂƐƚƌƵĐƚƵƌĞƐ Private Limited in the village of Bhagwanpur Established a sanitary napkin manufacturing unit for a ũŽŝŶƚůŝĂďŝůŝƚLJŐƌŽƵƉ;:>'ͿŽĨĮǀĞǁŽŵĞŶĨƌŽŵƚŚĞǀŝůůĂŐĞŽĨ  ZĞǀŝǀĞĚϭϭƚƌĂĚŝƟŽŶĂůĂƌƚĨĂŵŝůŝĞƐďLJĞŵƉůŽLJŝŶŐƚŚĞŵĂƚƚŚĞ Kusumura ŚŽŬƌĂƉƌŽĚƵĐƟŽŶƵŶŝƚ Established a poultry unit comprising 25 families across Established an ŐĂƌďĂƫ;ŝŶĐĞŶƐĞƐƟĐŬͿŵĂŬŝŶŐƵŶŝƚĨŽƌĂŶ 10 villages SHG comprising 15 women from the village of Kalmi Established a snacks-making unit for an SHG of 13 women Set up a readymade garment making unit at Kirodimal Nagar from the village of Jorapali where 15 women were associated  ^ĞƚƵƉĂƐƟƚĐŚŝŶŐƚƌĂŝŶŝŶŐƵŶŝƚĨŽƌϮϱϬǁŽŵĞŶĨƌŽŵĞŝŐŚƚ Tamnar nearby villages Helping 30 SHG members to augment their income through  dƌĂŝŶĞĚϭϬǁŽŵĞŶƚŚƌŽƵŐŚƚŚĞŵďƌŽŝĚĞƌLJdƌĂŝŶŝŶŐhŶŝƚĂƚ ŽŶĂƉĂƩĂů;ůĞĂĨƉůĂƚĞƐͿŵĂŬŝŶŐ Chandmari, helping eight of them to be self-employed  dƌĂŝŶĞĚϮϭϯǁŽŵĞŶŝŶƐƟƚĐŚŝŶŐ͕ĐƵƫŶŐ;ƚĂŝůŽƌŝŶŐͿ

 ƐƚĂďůŝƐŚĞĚĂƵŶŝĨŽƌŵƐƟƚĐŚŝŶŐƚƌĂŝŶŝŶŐƵŶŝƚĂƚĞƌŵƵĚĂĨŽƌ Imparted trainings to 25 youth in repair and maintenance of 10 women and executed an order worth ` 18,000 home appliances, 30 in driving and 40 youth to help them Set up a ŽŶĂƉĂƩĂů making unit for an SHG comprising ǁŽƌŬĂƐĞůĞĐƚƌŝĐŝĂŶ͕ĮƩĞƌĂŶĚǁĞůĚĞƌ 13 women from the village of Kalmi Launched tent house items camp for women from 15 economically backward families from the village of hĐŚĐŚĂďŚŝƫ

52 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Social Responsibility

tŽŵĞŶƐŬŝůůďƵŝůĚŝŶŐĂĐƟǀŝƟĞƐ

Patratu ŶŐƵů  &ŽƌŵĞĚϵϯ^ĞůĨ,ĞůƉ'ƌŽƵƉƐ;^,'ƐͿ  WƌŽŵŽƟŶŐŝŶĐŽŵĞŐĞŶĞƌĂƟŽŶĂĐƟǀŝƚLJĂŵŽŶŐƚŚĞLJŽƵƚŚĂŶĚ Linked 26 SHGs with banks women  /ŵƉĂƌƚĞĚƚƌĂŝŶŝŶŐƚŽĞŶŚĂŶĐĞƐƟƚĐŚŝŶŐĂŶĚƚĂŝůŽƌŝŶŐƐŬŝůůƐ  ŽŶĚƵĐƚĞĚŵĞĞƟŶŐƐĂŶĚŽƉĞŶŚŽƵƐĞĚŝƐĐƵƐƐŝŽŶƐƚŽ ĂŵŽŶŐϮϱϳǁŽŵĞŶ empower women on social and economic issues; these  WƌŽǀŝĚĞĚǀĂƌŝŽƵƐŝŶĐŽŵĞŐĞŶĞƌĂƟŽŶĂĐƟǀŝƟĞƐĨŽƌĐĂƉĂĐŝƚLJ ŵĞĞƟŶŐƐǁĞƌĞĂƩĞŶĚĞĚďLJϲϬǁŽŵĞŶ ďƵŝůĚŝŶŐĂŶĚĞŶŐĂŐĞŵĞŶƚƚŽ^,'Ɛ͘hŶĚĞƌƚŚĞƐĐŚĞŵĞ͕Ϯϵϴ Imparted training to help manage 54 SHGs ǁŽŵĞŶǁĞƌĞĞŶŐĂŐĞĚŝŶĂĐƟǀŝƟĞƐůŝŬĞŵĂŬŝŶŐũƵƚĞƉƌŽĚƵĐƚƐ͕  KƌŐĂŶŝƐĞĚĞdžŚŝďŝƟŽŶƐĂŶĚƚƌĂĚĞĨĂŝƌƐĨŽƌĞdžƉŽƐƵƌĞŽĨ^,'Ɛ ĐƵůƟǀĂƟŶŐǀĞŐĞƚĂďůĞƐĂŶĚŵƵƐŚƌŽŽŵ͕ŵĂŶĂŐŝŶŐƉŽƵůƚƌLJ ďĞŶĞĮƫŶŐϯϮϴǁŽŵĞŶ ƵŶŝƚƐĂŶĚĨĂƌŵŝŶŐŚĞƌďĂůƉƌŽĚƵĐƚƐ͘dŚĞƐƵŵŵĂƌLJŽĨĞĂĐŚ scheme is given below:  dƌĂŝŶĞĚϵϬĨĂƌŵĞƌƐŽŶƋƵĂůŝƚLJƐĞĞĚĨŽƌŵĂƟŽŶ Eco-spa:dŚĞŽŵƉĂŶLJĞƐƚĂďůŝƐŚĞĚĐŽͲƐƉĂ͕Ă  /ŵƉĂƌƚĞĚƚƌĂŝŶŝŶŐŽŶsĞƌŵŝŽŵƉŽƐƚƉƌŽĚƵĐƟŽŶ ŵĂŶƵĨĂĐƚƵƌŝŶŐƵŶŝƚĨŽƌŽƌŐĂŶŝĐŚĞƌďĂůďŽĚLJĐĂƌĞƉƌŽĚƵĐƚƐ͘  dƌĂŝŶĞĚϱϬĨĂƌŵĞƌƐŽŶDĂŐŝĐtĂƚĞƌWƌŽĚƵĐƟŽŶĂŶĚŝƚƐ Eco-spa is made from locally grown vegetables, fruits, ĂƉƉůŝĐĂƟŽŶ;ǀĞƌŵŝǁĂƐŚͿ ĞdžƚƌĂĐƚŽĨĨŽƌĞƐƚƉƌŽĚƵĐƚƐĂŶĚŚĞƌďƐ͘ĐŽͲƐƉĂͲŶŐƵů  ŽŶĚƵĐƚĞĚƚƌĂŝŶŝŶŐĨŽƌϭϬĨĂƌŵĞƌƐŽŶŶƵƌƐĞƌLJĨŽƌŵĂƟŽŶĂŶĚ ZƵƌĂůtŽŵĞŶ^,'/ŶŝƟĂƟǀĞƉƌŽŵŽƚĞĚǁŝĚĞƐƉƌĞĂĚ ƐĂƉůŝŶŐƉƌŽĚƵĐƟŽŶ ƐŽĐŝŽͲĞĐŽŶŽŵŝĐĚĞǀĞůŽƉŵĞŶƚ͕ĨŽĐƵƐĞĚŽŶƉƌŽƚĞĐƟŶŐƚŚĞ  ŽŶĚƵĐƚĞĚƐŽŝůĂŶĚǁĂƚĞƌĐŽŶƐĞƌǀĂƟŽŶƉƌŽŐƌĂŵŵĞƐŽŶ ĞŶǀŝƌŽŶŵĞŶƚ͕ĞŵƉŚĂƐŝƐĞĚŽŶƌĞƐƉŽŶƐŝďůĞĐŽŶƐƵŵƉƟŽŶ ĂŶĚĂĚǀŽĐĂƚĞĚŽƌŐĂŶŝĐĂŐƌŝĐƵůƚƵƌĞ͘ ƉůĂŶƚĂƟŽŶĨŽƌϵϬƉĞŽƉůĞ Ssodashi: Ssodashi is a low-cost sanitary napkin  KƌŐĂŶŝƐĞĚĂƚƌĂŝŶŝŶŐĂŶĚƉƌŽŵŽƟŽŶƉƌŽŐƌĂŵŵĞŽŶ manufacturing unit, which was established to generate ŵƵƐŚƌŽŽŵĐƵůƟǀĂƟŽŶ͕ǁŚŝĐŚǁĂƐĂƩĞŶĚĞĚďLJϮϯǁŽŵĞŶ ĞŵƉůŽLJŵĞŶƚĨŽƌ^,'ƐŝŶƚŚĞŶĞĂƌďLJǀŝůůĂŐĞƐ͘LJƉƌŽŵŽƟŶŐ the use of sanitary napkins, a direct impact was created on ǁŽŵĞŶ͛ƐŚĞĂůƚŚĂŶĚƉĞƌƐŽŶĂůŚLJŐŝĞŶĞ͘ Odifab͗ũƵƚĞƉƌŽĚƵĐƟŽŶƵŶŝƚǁĂƐĞƐƚĂďůŝƐŚĞĚďLJƚŚĞƌƵƌĂů ^,'ĨŽƌǁŽŵĞŶ͘dŚĞĐĞŶƚƌĞŚĂƐƚŚĞĂďŝůŝƚLJƚŽƉƌŽĚƵĐĞ ĂǁŝĚĞƌĂŶŐĞŽĨƉƌŽĚƵĐƚƐ͕ƐƚĂƌƟŶŐĨƌŽŵƐŚŽƉƉĞƌƐ͛ďĂŐƐ͕ ďŽƩůĞďĂŐƐĂŶĚĚĞĐŽƌĂƟǀĞŝƚĞŵƐƚŽĨŽůĚĞƌƐ͘

53 Annual Report 2012-13 ŚĂŝƟ͗ƉƌĞƐĞƌǀĂƟǀĞĨƌŽŵůŽĐĂůůLJŐƌŽǁŶƐƵƌƉůƵƐ ǀĞŐĞƚĂďůĞƐǁĂƐĚĞǀĞůŽƉĞĚ͘/ƚĐĂŶďĞƵƐĞĚĨŽƌĨŽŽĚ ƉƌĞƐĞƌǀĂƟǀĞŝƚĞŵƐůŝŬĞƉŝĐŬůĞƐ͕ƉĂƉĂĚ͕ƐĂƵĐĞƐ͕ĐŚƵƚŶĞLJƐ and snacks  ŶŐĂŐĞĚϴϲϱǁŽŵĞŶĂĐƌŽƐƐĮǀĞǀŝůůĂŐĞƐŝŶŽƚŚĞƌŽīͲĨĂƌŵ ĂĐƟǀŝƟĞƐ͕ƐƵĐŚĂƐƚĂŝůŽƌŝŶŐ͕ƐƟƚĐŚŝŶŐĂŶĚĞŵďƌŽŝĚĞƌLJ͕ŵĂŬŝŶŐ ŽĨůĞĂĨĐƵƉ͕ƉŚĞŶLJůĂŶĚŝŶĐĞŶƐĞƐƟĐŬƐ͕ƐŽŌͲƚŽLJƐĂŶĚƐŽŽŶ  ^ƚĂƌƚĞĚĂŶŝŶĐĞŶƐĞƐƟĐŬŵĂŶƵĨĂĐƚƵƌŝŶŐƵŶŝƚũŽŝŶƚůLJǁŝƚŚƚŚĞ ŝƐƚƌŝĐƚZƵƌĂůĞǀĞůŽƉŵĞŶƚŐĞŶĐLJ;ZͿĂŶĚ/d>ƚĚƵŶĚĞƌ ƚŚĞƉƵďůŝĐͲƉƌŝǀĂƚĞͲƉĂƌƚŶĞƌƐŚŝƉ;WWWͿŵŽĚĞƚŽĞŵƉŽǁĞƌ women SHGs  WƌŽŵŽƚĞĚŽƌŐĂŶŝĐĨĂƌŵŝŶŐďLJĞŶŐĂŐŝŶŐϭϮϬĨĂƌŵĞƌƐŝŶĮǀĞ villages Engaged 85 farmers in Integrated Pisciculture and Freshwater Prawn Culture across seven villages  /ŶŝƟĂƚĞĚĂĚǀĂŶĐĞĚĐŽƐƚͲĞīĞĐƟǀĞ͕ĨĂƌŵͲďĂƐĞĚƚĞĐŚŶŽůŽŐLJ ďLJƐƚĂƌƟŶŐǁŝƚŚŚLJďƌŝĚŵĂŝnjĞŝŶĂƐƐŽĐŝĂƟŽŶǁŝƚŚϮϯĨĂƌŵĞƌƐ across 13 acres in the villages of Mahitala and Jarada

ECOSPA Self Help Group

<ĞLJ>ŝǀĞůŝŚŽŽĚ/ŶŝƟĂƟǀĞƐ

^ĞůĨͲ,ĞůƉ'ƌŽƵƉ ;^ŚĂƐĂŬƚDĂŚŝůĂ^ĂŵƌŝĚŚ^ĂŵĂũͿ dŽŝŶŝƟĂƚĞƚŚĞŚĂďŝƚŽĨƐĂǀŝŶŐƐĂŶĚĞŵƉŽǁĞƌůŝǀĞůŝŚŽŽĚ͕ƚŚĞ ŽŵƉĂŶLJŚĂƐƐĞƚͲƵƉƐĞǀĞƌĂůŚŽŵŽŐĞŶĞŽƵƐĂŶĚĂĸŶŝƚLJŐƌŽƵƉƐŽĨ ϭϱƚŽϮϬƉŽŽƌƉĞƌƐŽŶƐ͕ƉĂƌƟĐƵůĂƌůLJǁŽŵĞŶ͘dŚĞŽďũĞĐƟǀĞƐŽĨƚŚĞ ĨŽƌŵĂƟŽŶŽĨ^,'ƐĂƌĞƚŽ͗  ^ĞŶƐŝƟƐĞǁŽŵĞŶŽĨƚŚĞŶĞĞĚŽĨ^,'ĂŶĚŝƚƐƌĞůĞǀĂŶĐĞŝŶƚŚĞŝƌ empowerment process Create a feeling of belonging among women  ŶŚĂŶĐĞƚŚĞĐŽŶĮĚĞŶĐĞĂŶĚĐĂƉĂďŝůŝƟĞƐŽĨǁŽŵĞŶ  ĞǀĞůŽƉĐŽůůĞĐƟǀĞĚĞĐŝƐŝŽŶŵĂŬŝŶŐĂďŝůŝƚLJĂŵŽŶŐǁŽŵĞŶ Encourage the habit of saving among women and facilitate ĂĐĐƵŵƵůĂƟŽŶŽĨƚŚĞŝƌŽǁŶĐĂƉŝƚĂůƌĞƐŽƵƌĐĞďĂƐĞ  DŽƟǀĂƚĞǁŽŵĞŶƚŽƐŚŽƵůĚĞƌƐŽĐŝĂůƌĞƐƉŽŶƐŝďŝůŝƟĞƐ͕ ƉĂƌƟĐƵůĂƌůLJƚŚŽƐĞƌĞůĂƚĞĚƚŽƚŚĞŝƌĚĞǀĞůŽƉŵĞŶƚ

^ŚĂƐĂŬƚDĂŚŝůĂ^ĂŵƌŝĚŚ^ĂŵĂũͲ^ĞůĨͲ,ĞůƉ'ƌŽƵƉ

54 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Social Responsibility

ĐŽͲĨƌŝĞŶĚůLJũƵƚĞĂĐĐĞƐƐŽƌŝĞƐŵĂŶƵĨĂĐƚƵƌĞĚďLJK/&^ĞůĨ,ĞůƉ'ƌŽƵƉ

ůůŝĞĚŐƌŝĐƵůƚƵƌĞͲďĂƐĞĚ>ŝǀĞůŝŚŽŽĚ /ŶĐŽŵĞ'ĞŶĞƌĂƟŽŶĐƟǀŝƟĞƐƵŶĚĞƌWƌŽũĞĐƚ ǀĞŶƚŽĚĂLJ͕ĂďŽƵƚϲϱͲϳϬйŽĨ/ŶĚŝĂ͛ƐƉŽƉƵůĂƟŽŶŝƐĚĞƉĞŶĚĞŶƚŽŶ ͚^ǁĂǀůĂŵďĂŶ͛ ĂŐƌŝĐƵůƚƵƌĞĨŽƌƚŚĞŝƌůŝǀĞůŝŚŽŽĚ͘:^W>ŚĂƐĞŶĚĞĂǀŽƵƌĞĚƚŽƉƌŽŵŽƚĞ /ŶĐŽůůĂďŽƌĂƟŽŶǁŝƚŚ:,ZZ&d;'Žǀƚ͘hŶĚĞƌƚĂŬŝŶŐͿ͕ƚŚĞ ĂůůŝĞĚĂŐƌŝĐƵůƚƵƌĂůĂĐƟǀŝƟĞƐŝŶŝƚƐŽƉĞƌĂƟŽŶĂůǀŝůůĂŐĞƐ͘sĂƌŝŽƵƐ ŽŵƉĂŶLJƚƌĂŝŶĞĚǁŽŵĞŶŝŶƚŚĞŽƉĞƌĂƟŽŶĂůĂƌĞĂƐŽĨ:^W>ƵŶĚĞƌ ĂĐƟǀŝƟĞƐůŝŬĞǀĞƌŵŝĐŽŵƉŽƐƚƉƌĞƉĂƌĂƟŽŶĂŶĚŝƚƐĂƉƉůŝĐĂƟŽŶ͕ ƚŚĞƉƌŽũĞĐƚ^ǁĂǀůĂŵďĂŶ͘hŶĚĞƌƚŚŝƐŝŶŝƟĂƟǀĞ͕ǁŽŵĞŶĂƌĞƚƌĂŝŶĞĚ ŇŽƌŝĐƵůƚƵƌĞĂŶĚŶƵƌƐĞƌLJĚĞǀĞůŽƉŵĞŶƚ͕ĂŶĚŵƵƐŚƌŽŽŵĐƵůƟǀĂƟŽŶ ŝŶĂƌƟƐĂŶĂĐƟǀŝƟĞƐĂŶĚĂƉůĂƞŽƌŵŝƐƉƌŽǀŝĚĞĚƚŽƚŚĞŵƚŽĞĂƌŶ ǁĞƌĞĐŽŶĚƵĐƚĞĚ͘ ĂďĞƩĞƌůŝǀĞůŝŚŽŽĚŝŶĂĚŝŐŶŝĮĞĚŵĂŶŶĞƌ͘dŚŝƐ͕ŝŶƚƵƌŶ͕ŚĞůƉƐƚŽ ŝŵƉƌŽǀĞƚŚĞŝƌƐƚĂŶĚĂƌĚŽĨůŝǀŝŶŐ͘ tŽŵĞŶŵƉŽǁĞƌŵĞŶƚĂŶĚ>ŝǀĞůŝŚŽŽĚ ĞǀĞůŽƉŵĞŶƚ ^ŬŝůůĞǀĞůŽƉŵĞŶƚʹdĂŝůŽƌŝŶŐdƌĂŝŶŝŶŐĂŶĚ ^ŝŶĐĞϮϬϭϬ͕:^W>ŚĂƐƵŶĚĞƌƚĂŬĞŶƐĞǀĞƌĂůůŝǀĞůŝŚŽŽĚƉƌŽŵŽƟŽŶ /ŶĐŽŵĞ'ĞŶĞƌĂƟŽŶ ĂĐƟǀŝƟĞƐ͕ƉĂƌƟĐƵůĂƌůLJĨŽƌǁŽŵĞŶ͘ŵŽŶŐƚŚĞŵ͕ƚŚĞƚŚƌĞĞŵĂũŽƌ DŽƌĞƚŚĂŶϰϬϬǁŽŵĞŶĂƌĞƚƌĂŝŶĞĚŝŶƚĂŝůŽƌŝŶŐĂŶĚƐƟƚĐŚŝŶŐ͘ ĂĐƟǀŝƟĞƐĂƌĞ͗ >ĂƌŐĞŶƵŵďĞƌƐŽĨǁŽŵĞŶĂƌĞƌĞŐƵůĂƌůLJŵĂŬŝŶŐĂŶĂĚĚŝƟŽŶĂů  ^ǁĂǀĂůĂŵďĂŶͲƌƟƐĂŶĚĞǀĞůŽƉŵĞŶƚĨŽƌƐĞůĨͲĞŵƉůŽLJŵĞŶƚ income in the range of `ϭϱ͕ϬϬϬͬͲƚŽ` ϲϬ͕ϬϬϬͬͲƉĞƌĂŶŶƵŵǁŝƚŚ  'ƌŽƵƉͲůĞĚƉƌŽĚƵĐƟŽŶŽĨƌƵƌĂůŚŽƵƐĞŚŽůĚƉƌŽĚƵĐƚƐͲĨŽŽĚ ƚŚĞŚĞůƉŽĨƚŚŝƐǀŽĐĂƟŽŶ͘dŚŝƐŝŵƉĂƌƚĞĚƚƌĂŝŶŝŶŐŚĂƐďĞĞŶǀĞƌLJ processing through women SHGs ŵƵĐŚƉŽƉƵůĂƌĂŵŽŶŐĂůůƚŚĞǀŝůůĂŐĞƌƐĂĐƌŽƐƐƚŚĞƌĞŐŝŽŶ͘dŚŝƐĂĚĚƐ value to the livelihood and life style of people in and around the  ^ŬŝůůĚĞǀĞůŽƉŵĞŶƚŝŶƚĂŝůŽƌŝŶŐ͕ƐƟƚĐŚŝŶŐĂŶĚĞŵďƌŽŝĚĞƌLJ ŽŵƉĂŶLJ͛ƐŽƉĞƌĂƟŽŶĂůǀŝůůĂŐĞƐ͘ dŚĞƐĞŚĂǀĞŚĞůƉĞĚŝŶĐƌĞĂƐĞƚŚĞŝŶĐŽŵĞŽĨƐĞǀĞƌĂůǁŽŵĞŶĂŶĚ͕ ŝŶƚƵƌŶ͕ƚŚĂƚŽĨƚŚĞŝƌĨĂŵŝůŝĞƐ͘/ŶĂŶĞƌĂŽĨƐƉŝƌĂůůŝŶŐŝŶŇĂƟŽŶĂŶĚ ƌŝƐŝŶŐĐŽƐƚŽĨůŝǀŝŶŐ͕ƚŚĞŽŵƉĂŶLJ͛ƐĞīŽƌƚƐŚĂǀĞĂĚĚĞĚƐŝŐŶŝĮĐĂŶƚ ǀĂůƵĞƚŽƚŚĞĨĂŵŝůLJůŝǀĞƐŽĨƚŚĞƐĞǁŽŵĞŶ͘

55 Annual Report 2012-13 ZĞŝŶĨŽƌĐŝŶŐZƵƌĂů/ŶĨƌĂƐƚƌƵĐƚƵƌĞ

Children’s park at Raigarh

ZĂŝŐĂƌŚ Renovated two heritage buildings Constructed three box culverts and four new school buildings  ŽŶƐƚƌƵĐƚĞĚƌŽĂĚƐ;ŽĨϭ͕ϮϯϬŵĞƚƌĞƐͿďĞŶĞĮƟŶŐŽǀĞƌϯ͕ϬϬϬ households  ƵŝůƚϴϬϬƐƋ͘Ō͘ŐLJŵŚĂůů Renovated community infrastructures, which helped more  ŶŚĂŶĐĞĚŝŶĨƌĂƐƚƌƵĐƚƵƌĞĨĂĐŝůŝƟĞƐŝŶϭϬƐĐŚŽŽůƐ͕ƐƵĐŚĂƐƚŚŽƐĞ than 2,000 households ĨŽƌĚƌŝŶŬŝŶŐǁĂƚĞƌ͕ƚŽŝůĞƚƐ͕ĨƵƌŶŝƚƵƌĞĂŶĚĮdžƚƵƌĞƐ  ƵŝůƚďƌŝĚŐĞƐͬĐƵůǀĞƌƚƐͬƐŚĞĚƐͬŐƵĂƌĚǁĂůůƐ͕ǁŚŝĐŚƌĞƐƵůƚĞĚŝŶ  ƐƚĂďůŝƐŚĞĚĂdƌĂƵŵĂĞŶƚƌĞƵŝůĚŝŶŐĂƚWƵŶũŝƉĂƚŚƌĂ ŵŽƌĞƚŚĂŶϱ͕ϬϬϬďĞŶĞĮĐŝĂƌŝĞƐ  ĞŵĞŶƚĞĚŐŚĂƚƐͬĐŚĂŶŐŝŶŐƌŽŽŵƐĨŽƌŽǀĞƌϭϬ͕ϬϬϬ Patratu ďĞŶĞĮĐŝĂƌŝĞƐ  ŶƐƵƌĞĚƋƵĂůŝƚLJƉŽǁĞƌƐƵƉƉůLJŝŶϭϴǀŝůůĂŐĞƐͬƚŽůĂƐ Conducted landscaping and management of natural Constructed over 1,300 metres of road in four districts ĞŶǀŝƌŽŶŵĞŶƚĨŽƌϮϱ͕ϬϬϬďĞŶĞĮĐŝĂƌŝĞƐ Renovated religious and community places across seven Constructed 2,160 metres of school boundary walls districts Created 40 bore wells; excavated and deepened three ponds  ^ƵƉƉůŝĞĚϲϭ͘ϮƚŽŶŶĞƐŽĨƐĐƌĂƉǁŽŽĚĂŵŽŶŐŶŐĂŶǁĂĚŝƐ, schools and villages to help them cook mid-day meals on a Tamnar regular basis Constructed 820 metres of CC road Renovated one school Created 10 water tanks and excavated 12 bore wells Built 1,440 metres of school boundary wall Excavated and deepened two ponds

56 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Social Responsibility

Rural infrastructure development ŽŶƐƚƌƵĐƚĞĚƌŽĂĚƐƚŽŝŵƉƌŽǀĞĐŽŶŶĞĐƟǀŝƚLJ

Ăƌďŝů Installed tube wells Constructed community halls  /ŶƐƚĂůůĞĚͬƌĞƉĂŝƌĞĚŚĂŶĚƉƵŵƉƐͬƚƵďĞǁĞůůƐͬĚĞĞƉďŽƌĞǁĞůůƐ Built school boundary walls and classrooms  hƟůŝƐĞĚƐƵďŵĞƌƐŝďůĞƉƵŵƉƐǁŝƚŚƐƚŽƌĂŐĞĂƌƌĂŶŐĞŵĞŶƚƐ  džĐĂǀĂƚĞĚͬƌĞŶŽǀĂƚĞĚƉŽŶĚƐ Supplied water through pipelines and water tankers <ĞLJ/ŶŝƟĂƟǀĞƐ  ĞǀĞůŽƉĞĚͬĐŽŶƐƚƌƵĐƚĞĚǁĂƚĞƌƚĂŶŬƐ ƌŝŶŬŝŶŐtĂƚĞƌĂŶĚ^ĂŶŝƚĂƟŽŶ  /ŶŝƟĂƚĞĚĂƌĂŝŶǁĂƚĞƌŚĂƌǀĞƐƟŶŐƐĐŚĞŵĞ ďŽƵƚϭϬйŽĨƚŚĞƌƵƌĂůĂŶĚƵƌďĂŶƉŽƉƵůĂƟŽŶĚŽĞƐŶŽƚŚĂǀĞ ĂĐĐĞƐƐƚŽƌĞŐƵůĂƌƐĂĨĞĚƌŝŶŬŝŶŐǁĂƚĞƌ͘DŽƐƚŽĨƚŚĞǀŝůůĂŐĞƌƐĂƌĞ ŶŐƵů ĚĞƉĞŶĚĞŶƚŽŶƵŶƐĂĨĞǁĂƚĞƌƐŽƵƌĐĞƐƚŽŵĞĞƚƚŚĞŝƌĚĂŝůLJŶĞĞĚƐ͘/Ŷ dŚĞŽŵƉĂŶLJƵŶĚĞƌƚŽŽŬĂŶƵŵďĞƌŽĨŝŶŝƟĂƟǀĞƐŝŶŶŐƵů͕ ĂĚĚŝƟŽŶ͕ǁĂƚĞƌƐŚŽƌƚĂŐĞƐŚĂǀĞƌĞƐƵůƚĞĚŝŶůĂƌŐĞǀŽůƵŵĞƐŽĨǁĂƚĞƌ ďĞŶĞĮƟŶŐŽǀĞƌϱ͕ϬϬϬŚŽƵƐĞŚŽůĚƐĂĐƌŽƐƐϮϲƉĞƌŝƉŚĞƌLJǀŝůůĂŐĞƐ͘ ďĞŝŶŐĐŽůůĞĐƚĞĚĂŶĚƚƌĂŶƐƉŽƌƚĞĚŝŶƚĂŶŬĞƌƐĂŶĚƉŝƉĞůŝŶĞƐ͘ƚ ^ŽŵĞŽĨƚŚĞŝŶŝƟĂƟǀĞƐŚĂǀĞďĞĞŶĚŝƐĐƵƐƐĞĚďĞůŽǁ͘ various places, the Company installed hand pumps and increased Enhanced infrastructure at the peripheral villages of the ƚŚĞǁĂƚĞƌƚĂŶŬĞƌƚƌŝƉƐ͘/ƚĂůƐŽŚĞůƉĞĚƚŽŝŵƉƌŽǀĞƚŚĞƐĂŶŝƚĂƟŽŶ plants in a diverse way ŽĨƉĞŽƉůĞďLJĐŽŶƐƚƌƵĐƟŶŐĂŶĚƌĞŶŽǀĂƟŶŐƚŽŝůĞƚƐĂŶĚŝŶĐƌĞĂƐŝŶŐ Excavated ponds and installed community tap water ĂǁĂƌĞŶĞƐƐĂďŽƵƚŬĞĞƉŝŶŐƚŚĞŵĐůĞĂŶ͘ ĐŽŶŶĞĐƟŽŶ  ZĞƉĂŝƌĞĚĚŝīĞƌĞŶƚƌŽĂĚƐ Brought electricity to several villages

57 Annual Report 2012-13 ŶĐŽƵƌĂŐŝŶŐ^ƉŽƌƚƐ͕ŽĚLJ&ŝƚŶĞƐƐĂŶĚƵůƚƵƌĂůĐƟǀŝƚLJ

Tamnar ŶŐƵů Organised PICA sports tournament, a two-day district-level Constructed three rural gymnasiums in Angul’s peripheral women’s sports tournament villages and supplied them with basic gymnasium equipment; Arranged state-level ŬƵƐŚƟ championship, district-level sports also appointed a trainer to guide the members ƚŽƵƌŶĂŵĞŶƚŝŶĐŽůůĂďŽƌĂƟŽŶǁŝƚŚEĞŚƌƵzƵǀĂ<ĞŶĚƌĂĂŶĚ Organised inter-village volleyball, football and cricket inter-village tournament ŬĂďĂĚĚŝ matches  /ŶŝƟĂƚĞĚĐŽŵƉĞƟƟŽŶƐŽĨĐůĂƐƐŝĐĂůĚĂŶĐĞƐ;<ĂƚŚĂŬĂŶĚKĚŝƐƐŝͿ͕  /ŶŝƟĂƚĞĚĐŽĂĐŚŝŶŐĨĂĐŝůŝƚLJĨŽƌLJŽƵƚŚƐŝŶϰϳǀŝůůĂŐĞƐ ĚƌĂŵĂ͕ĐŽŵĞĚLJ͕ůŽĐĂůĨŽůŬĂƌƚ͕ƐŝŶŐŝŶŐ͕ĚƌĂǁŝŶŐĂŶĚƉĂŝŶƟŶŐ͕ along with programmes like Diwali Milan and Holi Milan, Established rural gymnasiums with adequate sports among others equipment Held sector and block level inter-school sports and volleyball  WĂƚƌŽŶŝƐĞĚĂĐŚŝĞǀĞƌƐŝŶǀĂƌŝŽƵƐĮĞůĚƐŽĨƐƉŽƌƚƐ tournaments at the mines area  WĂƌƚŶĞƌĞĚǁŝƚŚůŽĐĂůĐŽŵŵƵŶŝƚLJĨŽƌĨĞƐƟǀĂůĐĞůĞďƌĂƟŽŶĂŶĚ  ŽŶĚƵĐƚĞĚŬĂƌĂƚĞ;ŵĂƌƟĂůĂƌƚͿƚƌĂŝŶŝŶŐĨŽƌƐĐŚŽŽůŐŝƌůƐŽĨ increased cultural bonding among the people Dhourabhata villages at the mines area Supported 1,650 youth from 33 villages in cricket and  KƌŐĂŶŝƐĞĚ^ƵĂĚĂŶĐĞ;ƚƌŝďĂůĚĂŶĐĞͿĐŽŵƉĞƟƟŽŶĂƚƚŚĞŵŝŶĞƐ football area Re-organised inter-village matches of volleyball, football, Conducted a two-day district level women’s sports ĐƌŝĐŬĞƚĂŶĚĐŽĂĐŚŝŶŐ͕ƐƵƉƉŽƌƟŶŐϲϲϬLJŽƵƚŚ tournament at the mines area Patratu Ăƌďŝů  ŶƐƵƌĞĚƉĂƌƟĐŝƉĂƟŽŶŽĨϮϱϲƉůĂLJĞƌƐĨƌŽŵϭϲĚŝīĞƌĞŶƚ Promoted local tournaments to involve people from 8,000 ƚĞĂŵƐŝŶƚŚĞK͘W͘:ŝŶĚĂů&ŽŽƚďĂůůdŽƵƌŶĂŵĞŶƚ villages  ,ĞůƉĞĚϭϰϰƉůĂLJĞƌƐĨƌŽŵϭϴƚĞĂŵƐƚŽƉĂƌƟĐŝƉĂƚĞŝŶƚŚĞ  WƌŽǀŝĚĞĚĮŶĂŶĐŝĂůĂƐƐŝƐƚĂŶĐĞĨŽƌŽƌŐĂŶŝƐŝŶŐƚŚĞƚŽƵƌŶĂŵĞŶƚƐ K͘W͘:ŝŶĚĂůsŽůůĞLJďĂůůdŽƵƌŶĂŵĞŶƚ for 8,000 individuals  ƐƐŝƐƚĞĚϭϯĐĂŶĚŝĚĂƚĞƐĨƌŽŵƚŚĞŽƉĞƌĂƟŽŶĂůĂƌĞĂƐƚŽ Supported the community as a whole by providing cultural get selected in the Indian Army Recruitment at sports ƐƵƉƉŽƌƚĚƵƌŝŶŐƐĞǀĞƌĂůĨĞƐƟǀĂůƐĂŶĚƌŝƚƵĂůƐ stadium, Saraikela

Encouraging women’s sports tournament <ĂƌĂƚĞ;ŵĂƌƟĂůĂƌƚͿƚƌĂŝŶŝŶŐ

58 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Social Responsibility

Livestock management training

WƌŽŵŽƟŶŐ>ŝǀĞƐƚŽĐŬ&ĂƌŵŝŶŐ dŚĞŽŵƉĂŶLJŚĂƐƚĂŬĞŶƵƉƐĞǀĞƌĂůŝŶŝƟĂƟǀĞƐƚŽƉƌŽŵŽƚĞůŝǀĞƐƚŽĐŬĐĂƌĞĂŶĚŵĂŶĂŐĞŵĞŶƚ͘sĂƌŝŽƵƐĂĐƟǀŝƟĞƐĐŽŶĚƵĐƚĞĚƵŶĚĞƌƚŚĞƐĞ ŝŶŝƟĂƟǀĞƐŚĂǀĞďĞĞŶĞŶƵŵĞƌĂƚĞĚďĞůŽǁ͗ <ĞLJ/ŶŝƟĂƟǀĞƐ Conducted veterinary camps Godda  ƩĞŶĚĞĚƚŽŚĞĂůƚŚĞŵĞƌŐĞŶĐŝĞƐŽĨĂŶŝŵĂůƐ Distributed 20 kgs of rice to the local people Vaccinated poultry birds Contributed `ϭ͕ϬϬϬƉĞƌĨĂŵŝůLJƵŶĚĞƌƚŚĞDĂŚĂũĂŶDƵŬƚ  sĂĐĐŝŶĂƚĞĚĐĂƩůĞƚŽƉƌŽƚĞĐƚƚŚĞŵĂŐĂŝŶƐƚ&DĂŶĚ,^Y Society  ŶƐƵƌĞĚƚŚĂƚƚŚĞǀŝůůĂŐĞƌƐǀŝƐŝƚƚŚĞsĞƚĞƌŝŶĂƌLJdĞĐŚŶŝĐŝĂŶĚĂŝůLJ  WƌŽŵŽƚĞĚƚŚĞƵƐĞŽĨƐŽůĂƌƉƵŵƉ͕ƌĂŝŶŚĂƌǀĞƐƟŶŐ͕ĂŶĚƉŝƚĂŶĚ  WƌŽǀŝĚĞĚĮŶĂŶĐŝĂůĂƐƐŝƐƚĂŶĐĞƚŽƐŵĂůůĞŶƚƌĞƉƌĞŶĞƵƌƐƚŽŚĞůƉ ĚƌŝƉŝƌƌŝŐĂƟŽŶƐLJƐƚĞŵĨŽƌǀĞŐĞƚĂďůĞƐ ƚŚĞŵĞdžƉĂŶĚƚŚĞŝƌĞdžŝƐƟŶŐďƵƐŝŶĞƐƐĞƐ Covered 100% PAFs under Adhar Card and Bank Account Payment Helped in the breed improvement of goat  /ƐƐƵĞĚƚŚĞZΘZĞƌƟĮĐĂƚĞĨŽƌůŽŶŐͲƚĞƌŵƐŽĐŝĂůďĞŶĞĮƚƐ  WƌŽŵŽƚĞĚĨŽĚĚĞƌƉƌŽĚƵĐƚƐ;ƉƌŽƚĞŝŶƐƵƉƉůĞŵĞŶƚ͕ŶƵƚƌŝƟŽŶ like annuity, pension, company employment, preference in ĂŶĚŽƚŚĞƌƐͿ ŽƵƚƐŽƵƌĐĞĚũŽďƐĂŶĚŚŝƌŝŶŐŽĨǀĞŚŝĐůĞƐ͕ĂŵŽŶŐŽƚŚĞƌƐ  EĞƚǁŽƌŬĞĚĞīĞĐƟǀĞůLJǁŝƚŚ'ŽǀĞƌŶŵĞŶƚƉƌŽŐƌĂŵŵĞƐ  ŽŶĚƵĐƚĞĚƌĞŐƵůĂƌŵĞĚŝĐĂůĐŚĞĐŬͲƵƉƐǁŝƚŚĨƌĞĞĚŝƐƚƌŝďƵƟŽŶ of medicines  sŝƐŝƚĞĚĨĂŝƌƐĂŶĚŝŶƐƟƚƵƟŽŶƐƚŽŝŶĐƌĞĂƐĞĞdžƉŽƐƵƌĞƚŽůŝǀĞƐƚŽĐŬ Proposed to set up a modern hospital on PPP model ƉƌŽĚƵĐƚ͕ĚŝīĞƌĞŶƚďƌĞĞĚƐĂŶĚƐƉĞĐŝĞƐŽĨĐĂƩůĞ͕ĂŶĚƐŽŽŶ Signed an MoU with Apollo Hospital to ensure a place for the  ŽŶĚƵĐƚĞĚǁŽƌŬƐŚŽƉƐŽŶůŝǀĞƐƚŽĐŬĐĂƌĞ;ŚĞĂůƚŚĂŶĚŚLJŐŝĞŶĞ͕ ƚƌĞĂƚŵĞŶƚŽĨĐƌŝƟĐĂůůLJŝůůƉĂƟĞŶƚƐ ƐŚĞĚƉůĂŶŶŝŶŐĂŶĚƐŽŽŶͿ Entered into a contract through an MoU with ISM, Dhanbad  /ŶŝƟĂƚĞĚƉŝŐĨĂƌŵŝŶŐĂŶĚůŝǀĞƐƚŽĐŬŵĂŶĂŐĞŵĞŶƚƚƌĂŝŶŝŶŐ for satellite imagery of the area programmes Patratu Ăƌďŝů  WƵƌĐŚĂƐĞĚĮŶŐĞƌůŝŶŐƐǁŽƌƚŚ`ϳϴ͕ϬϬϬ  sĂĐĐŝŶĂƚĞĚϭ͕ϯϯϭĐĂƩůĞĂŶĚƚƌĞĂƚĞĚϮ͕ϰϳϯĂŶŝŵĂůƐ Helped to procure chicks and materials worth ` 15,000 for Provided emergency treatment to 61 animals poultry farm at Gobardhanpur village  KƌŐĂŶŝƐĞĚϭϬǀĞƚĞƌŝŶĂƌLJĐĂŵƉƐďĞŶĞĮƟŶŐϮϲϬĂŶŝŵĂůƐ Invested `ϴϭ͕ϮϬϬƚŽƉƌŽĐƵƌĞĮƐŚƐĞĞĚůŝŶŐĨƌŽŵKW>ƚĚ  dƌĂŝŶĞĚϭϴĨĂƌŵĞƌƐŽŶƉŝŐŐĞƌLJ  WĂŝĚƌĞŵƵŶĞƌĂƟŽŶƚŽƐƚĂīĂƚĂďĂ:ŚĂĚĞƐǁĂƌ^ĂŶŐŚĂ͕ĂŶ^,'  ^ƵƉƉŽƌƚĞĚĂŶĚƚƌĂŝŶĞĚƉŽƵůƚƌLJĨĂƌŵĞƌƐĂŶĚĮƐŚĞƌŵĞŶ at Dampur

59 Annual Report 2012-13 /ŶƚĞƌŶĂƟŽŶĂů

Oman

ůŽŽĚĚŽŶĂƟŽŶĐĂŵƉ ƌĂǁŝŶŐĐŽŵƉĞƟƟŽŶŝŶůŽĐĂůǀŝůůĂŐĞ

KŵĂŶŝtĞůĨĂƌĞ ^ŽĐŝĂů/ŶĨƌĂƐƚƌƵĐƚƵƌĞĞǀĞůŽƉŵĞŶƚ  KƌŐĂŶŝƐĞĚŶŐůŝƐŚĐůĂƐƐĞƐƚŽĞŶŚĂŶĐĞǀĞƌďĂůĐŽŵŵƵŶŝĐĂƟŽŶ  ,ĂŶĚĞĚŽǀĞƌĂĨŽŽƚďĂůůŐƌŽƵŶĚƚŽƚŚĞǀŝůůĂŐĞƌƐĂŌĞƌ ƐŬŝůůƐĂŶĚ<ĂƌĞŶŬĂƐŚƵ;ƋƵŝnjƉƌŽŐƌĂŵŵĞͿĨŽƌKŵĂŶŝĐŚŝůĚƌĞŶ ĐŽŵƉůĞƟŽŶŽĨĂůůƉĞŶĚŝŶŐĂŶĚĂĚĚŝƟŽŶĂůǁŽƌŬƐ during summer holidays Held henna ƉĂŝŶƟŶŐĂŶĚŐĂŵĞĞǀĞŶƚƐĨŽƌKŵĂŶŝĂƐǁĞůůĂƐ ĐƟǀŝƟĞƐĚƵƌŝŶŐZĂŵĂĚĂŶ Indian ladies  ŝƐƚƌŝďƵƚĞĚǁŚĞĞůĐŚĂŝƌƐƚŽKŵĂŶŝƐĂďůĞĚƐƐŽĐŝĂƟŽŶĂŶĚ Arranged separate cultural programmes for Omani gents and ůtĂĨĂWŚLJƐŝĐĂů,ĂŶĚŝĐĂƉƉĞĚ/ŶƐƟƚƵƟŽŶ ladies  ŽŶĂƚĞĚŐŝŌǀŽƵĐŚĞƌƐƚŽƉŽŽƌƉĞŽƉůĞŝŶ>ŝǁĂĂŶĚ^ŽŚĂƌ Donated laptops, specially designed for blind people, to Al EĂŽŽƌůŝŶĚƐƐŽĐŝĂƟŽŶ ^ƉŽƌƚƐĐƟǀŝƟĞƐ Supported Nabar football club comprehensively  ^ƵƉƉŽƌƚĞĚƚŚĞĐŚŝůĚƌĞŶŽĨƚŚĞůtĂīĂ,ĂŶĚŝĐĂƉƉĞĚĞŶƚƌĞ ďLJƉƵƌĐŚĂƐŝŶŐŚĂŶĚŵĂĚĞŐŝŌƐƉƌĞƉĂƌĞĚďLJƚŚĞŵ͖ĂůƐŽ  WĂƌƟĐŝƉĂƚĞĚŝŶ^/WĨŽŽƚďĂůůĂƐǁĞůůĂƐĐƌŝĐŬĞƚƚŽƵƌŶĂŵĞŶƚƐ campaigned for their products and provided them with an opportunity to earn money ƌĂŶĚŝŶŐĂŶĚ^ƉŽŶƐŽƌƐŚŝƉƐ sĞŶƵĞƐƉŽŶƐŽƌƐŚŝƉŝŶŶŶƵĂůdŝŵĞƐŽĨKŵĂŶŽƉĞŶƋƵŝnj ,ĞĂůƚŚ ĐŽŵƉĞƟƟŽŶ  KƌŐĂŶŝƐĞĚƚǁŽďůŽŽĚĚŽŶĂƟŽŶĐĂŵƉƐĨŽƌƉĞƌŵĂŶĞŶƚĂŶĚ contract employees and their family members  dƌĂŝŶĞĚĞŵƉůŽLJĞĞƐĂŶĚƚŚĞŝƌĨĂŵŝůLJŵĞŵďĞƌƐŽŶƐƚƌĞƐƐ management, yoga and physiotherapy

60 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Social Responsibility

ĨƌŝĐĂ

ŵƉŽǁĞƌŝŶŐƚŚƌŽƵŐŚĞĚƵĐĂƟŽŶ ŶĐŽƵƌĂŐŝŶŐƉůĂŶƚĂƟŽŶĚƌŝǀĞ

ŶƚĞƌƉƌŝƐĞĞǀĞůŽƉŵĞŶƚ ĚƵĐĂƟŽŶ  WĂƌƚŶĞƌĞĚǁŝƚŚsƵŵĂŶŝŽŵŬŚŽůŽ^ŝƐĞďĞŶnjĞWƌŽũĞĐƚƐŽŶ  dŚĞŽŵƉĂŶLJŝŵƉƌŽǀĞĚƐĐŚŽŽůƐŝŶƚŚĞ<ŝĞƉĞƌƐŽůŽůůŝĞƌLJ brick making in the community of Anninspruit area and building classrooms at Inkululeko Primary School,  ^ƚĂƌƚĞĚĂĨĂƌŵŝŶŐƉƌŽũĞĐƚĨŽƌƚŚĞĐŽŵŵƵŶŝƚLJŽĨ<ǁĂŶŐĞŵĂ ŵĂƚŚĂůĂnjĂ^ĐŚŽŽůĂŶĚ/ŶũĂďƵůŽŽŵďŝŶĞĚ^ĐŚŽŽůŝŶŽƌĚĞƌƚŽ ƚŽƉƌŽĚƵĐĞƐŽLJĂďĞĂŶƐĂŶĚŵĂŝnjĞƚŽƐĞůůƚŚĞŵŝŶƚŚĞůŽĐĂů alleviate crowding market  :ŝŶĚĂůĨƌŝĐĂŚĞůƉƐĂĚƵůƚƐĂƚŝƚƐ<ŝĞƉĞƌƐŽůĐŽŵŵƵŶŝƟĞƐŝŶ ůŝƚĞƌĂĐLJƉƌŽŐƌĂŵŵĞƐƚŚĂƚďĞŶĞĮƚƐŶŽƚŽŶůLJŝƚƐƵŶƐŬŝůůĞĚ ,ĞĂůƚŚ workforce, but also extend the opportunity to the locals  :ŝŶĚĂůĨƌŝĐĂ͛ƐDŽnjĂŵďŝƋƵĞŽƉĞƌĂƟŽŶŚĂƐŵĂĚĞ ĐŽŶƚƌŝďƵƟŽŶƐƚŽůŽĐĂůĨĂĐŝůŝƟĞƐŝŶƚŚĞĨŽƌŵŽĨĂŵďƵůĂŶĐĞ /ŶĨƌĂƐƚƌƵĐƚƵƌĞĞǀĞůŽƉŵĞŶƚ ƐĞƌǀŝĐĞƚŽƚŚĞdĞƚĞƉƌŽǀŝŶĐŝĂůĂƵƚŚŽƌŝƟĞƐ  WĂƌƟĐŝƉĂƚĞĚŝŶĂŶƵŵďĞƌŽĨĞŶƚĞƌƉƌŝƐĞĚĞǀĞůŽƉŵĞŶƚ  dŚĞŽƌŐĂŶŝƐĂƟŽŶŚĂƐĂůƐŽĐŽŶƐƚƌƵĐƚĞĚĂĐůŝŶŝĐŽŶŝƚƐ ĂĐƟǀŝƟĞƐ͕ŝŶĐůƵĚŝŶŐƚŚĞDŬŚŽŶĚŽDƵŶŝĐŝƉĂůŝƚLJ͛ƐůŽĐĂů mining site economic development forum  dŚĞŚĞĂůƚŚĐĂƌĞĐĞŶƚĞƌƐĂƌĞŶŽƚŽŶůLJĂďŽƵƚĂƐƐŝƐƟŶŐƚŚŽƐĞ  WƌŽǀŝĚĞĚĂƌĞůŝĂďůĞĞůĞĐƚƌŝĐŝƚLJƐƵƉƉůLJƚŽĂƐĞǁŝŶŐƉƌŽũĞĐƚ ǁŚŽĂƌĞƐŝĐŬ͕ďƵƚĂůƐŽƚĂƐŬĞĚǁŝƚŚƉƌŽǀŝĚŝŶŐƉƌĞǀĞŶƟǀĞ ŝŶŝƟĂƚĞĚďLJ/ŶŬŽƐŝDƚŚĞƚŚǁĂ ŚĞĂůƚŚĞĚƵĐĂƟŽŶ͕ƐƵĐŚĂƐƐĞdžĞĚƵĐĂƟŽŶ͕ŶƵƚƌŝƟŽŶ ŝŶĨŽƌŵĂƟŽŶ͕ĐŽƵŶƐĞůůŝŶŐĨĂĐƵůƟĞƐĂŶĚ,/sͬ/ƐƚĞƐƟŶŐ  /Ŷ^ŽƵƚŚĨƌŝĐĂ͕ĂĐƟǀŝƟĞƐŝŶĐůƵĚĞƚŚĞĚŽŶĂƟŽŶŽĨŵĞĚŝĐĂů equipment to the Huis Immegroen old-age home in Piet ZĞůŝĞĨƚŽŚĞůƉŝƚƉƌŽǀŝĚĞďĞƩĞƌŚĞĂůƚŚĐĂƌĞƚŽƚŚĞĞůĚĞƌůLJ  dŚĞŽƌŐĂŶŝƐĂƟŽŶŚĂƐĂŶĚĐŽŶƟŶƵĞƐƚŽƉƌŽǀŝĚĞĨƌĞƐŚǁĂƚĞƌ ƐƵƉƉůŝĞƐŝŶƚŚĞĨŽƌŵŽĨďŽƌĞŚŽůĞƐƚŽĐŽŵŵƵŶŝƟĞƐŝŶĂŶĚ ĂƌŽƵŶĚƚŚĞŝƌŽƉĞƌĂƟŽŶƐ

61 Annual Report 2012-13 EƵƌƚƵƌŝŶŐ'ƌĞĞŶ'ƌŽǁƚŚ

ůĞĂŶ͕ŐƌĞĞŶĂŶĚƐĞƌĞŶĞƐƚĞĞůƉůĂŶƚŝŶZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ

ƚ:^W>͕ǁĞďĞůŝĞǀĞŝŶƐƵƐƚĂŝŶĂďůĞ ŝƌWŽůůƵƟŽŶŽŶƚƌŽů ŐƌŽǁƚŚ͘tĞĐŽŶƟŶƵŽƵƐůLJƚĂŬĞ dŚĞŽŵƉĂŶLJŚĂƐďĞĞŶƉĂƐƐŝŽŶĂƚĞĂďŽƵƚŵĂŝŶƚĂŝŶŝŶŐĂĐůĞĂŶ ĂŶĚŐƌĞĞŶĞŶǀŝƌŽŶŵĞŶƚŝŶĂůůĂƌĞĂƐŽĨŝƚƐŽƉĞƌĂƟŽŶ͘/ŶǀŝĞǁ ŝŶŝƟĂƟǀĞƐƚŽŚĞůƉƉƌŽƚĞĐƚƚŚĞ ŽĨƚŚĞĐŚĂůůĞŶŐĞƐŽĨĂŝƌƉŽůůƵƟŽŶĂďĂƚĞŵĞŶƚ͕:^W>ĨŽůůŽǁƐ ĞŶǀŝƌŽŶŵĞŶƚĂŶĚƐƟŵƵůĂƚĞĞīŽƌƚƐ ĂƉƌŽĐĞĚƵƌĞŽĨdŽƚĂůWƌŽĚƵĐƟǀĞDĂŝŶƚĞŶĂŶĐĞ;dWDͿĨŽƌŝƚƐ ƉƌĞǀĞŶƟŽŶ͘/ƚŚĂƐĂůƐŽŝŶƐƚĂůůĞĚƐƚĂƚĞͲŽĨͲƚŚĞͲĂƌƚƉŽůůƵƟŽŶĐŽŶƚƌŽů ĨŽƌŐƌĞĞŶŐƌŽǁƚŚ͘ ĚĞǀŝĐĞƐƚŽŚĞůƉƌĞĚƵĐĞĂƚŵŽƐƉŚĞƌŝĐƉŽůůƵƟŽŶ͘ZĞĂůͲƟŵĞĐŚĞĐŬ on performance of these devices is done through automated online analysers, such as Opacity Meters and Ambient Air Quality DŽŶŝƚŽƌŝŶŐ^ƚĂƟŽŶƐ;YD^Ϳ͘ tĂƚĞƌWŽůůƵƟŽŶŽŶƚƌŽů tŝƚŚ:^W>ŝŶƚŚĞďƵƐŝŶĞƐƐŽĨŵĂŶƵĨĂĐƚƵƌŝŶŐŵƵůƟƉůĞƉƌŽĚƵĐƚƐ͕ there remains an increasing concern about the pollutants ĚŝƐĐŚĂƌŐĞĚĚŝƌĞĐƚůLJŽƌŝŶĚŝƌĞĐƚůLJŝŶƚŽǁĂƚĞƌďŽĚŝĞƐ͘ƚ:^W>͕ǁĂƚĞƌ ƉŽůůƵƟŽŶŝƐĐŽŶƚƌŽůůĞĚďLJĂĚŽƉƟŶŐĂƌĂŶŐĞŽĨƐƚƌŝŶŐĞŶƚƌĞŐƵůĂƚŽƌLJ

62 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Green Commitments

ŵĞĂƐƵƌĞƐĂŶĚŵŽŶŝƚŽƌŝŶŐƉƌŽĐĞƐƐĞƐ͘dŚĞŽŵƉĂŶLJĂƩĂŝŶĞĚ ŽƉĞƌĂƟŽŶĂƌĞĚŝƐĐƵƐƐĞĚďĞůŽǁ͗ ͚ĞƌŽŝƐĐŚĂƌŐĞ͛ƐƚĂƚƵƐ͘dŚĞŐƵŝĚĞůŝŶĞƐŽĨZWĂƌĞĐƵƌƌĞŶƚůLJ  ,ĂƌǀĞƐƚĞĚƌĂŝŶǁĂƚĞƌĂŶĚƵŶĚĞƌƚŽŽŬŵĂƐƐƚƌĞĞƉůĂŶƚĂƟŽŶ ďĞŝŶŐĂƩĂŝŶĞĚ͘dŚƌŽƵŐŚĞīĞĐƟǀĞǁĂƚĞƌĐŽŶƐĞƌǀĂƟŽŶ͕ƌĞĐLJĐůĞĂŶĚ ĚƵƌŝŶŐŵŽŶƐŽŽŶĂƐƌĞŐƵůĂƌĞĐŽͲĨƌŝĞŶĚůLJĞīŽƌƚƐ ƌĞƵƐĞŵĞƚŚŽĚƐ͕ƐƉĞĐŝĮĐǁĂƚĞƌĐŽŶƐƵŵƉƟŽŶŝƐŵĂŝŶƚĂŝŶĞĚŵƵĐŚ Constructed surface reservoirs with large water storage ďĞůŽǁƚŚĞZWŐƵŝĚĞůŝŶĞŽĨDŽ&͘ capacity ^ŽůŝĚtĂƐƚĞDĂŶĂŐĞŵĞŶƚ  ƵŝůƚŝŶũĞĐƟŽŶǁĞůůƐƚŽŚĂƌǀĞƐƚƌĂŝŶǁĂƚĞƌĂŶĚƌĞƉůĞŶŝƐŚ dŚĞŽƌŐĂŶŝƐĂƟŽŶ͛ƐĞdžƚĞŶƐŝǀĞZΘĂĐƟǀŝƟĞƐŚĞůƉĞĚŝƚŝĚĞŶƟĨLJ ground-water levels ǀĂƌŝŽƵƐƐŽůŝĚǁĂƐƚĞƐƚŚĂƚĐĂŶďĞƵƐĞĚĂƐƉƌŽĚƵĐƟǀĞŝŶƉƵƚƐ͘  ZĞĐLJĐůĞΘƌĞƵƐĞĞŋƵĞŶƚƐƚŽĐŽŶƐĞƌǀĞǁĂƚĞƌ dŚĞŽŵƉĂŶLJƉƵƌƐƵĞƐƚŚĞƉŽůŝĐLJŽĨϯZƐͲƌĞĐLJĐůĞ͕ƌĞĚƵĐĞĂŶĚ  /ŶƐƚĂůůĞĚŇŽǁŵĞƚĞƌƐŝŶĂůůŵĂŬĞͲƵƉǁĂƚĞƌůŝŶĞƐĨŽƌĐůŽƐĞ ƌĞƵƐĞʹƚŽŵĂŶĂŐĞŝƚƐǁĂƐƚĞ͘DĂŶLJŝŶŶŽǀĂƟǀĞƉƌŽũĞĐƚƐƵŶĚĞƌ ŵŽŶŝƚŽƌŝŶŐƚŽŽƉƟŵŝƐĞǁĂƚĞƌĐŽŶƐƵŵƉƟŽŶ ‘Wealth from Waste’ have been implemented for solid waste Used waste material from the washery and the sponge iron ƵƟůŝƐĂƟŽŶ͘dŚĞŽŵƉĂŶLJ͛ƐŵĂŝŶŽďũĞĐƟǀĞŝƐƚŽƚƌĂŶƐĨŽƌŵƐŽůŝĚ unit as a fuel in waste heat recovery boilers to generate power ǁĂƐƚĞŝŶƚŽǁĞĂůƚŚ͕ĂŶĚĚĞƌŝǀĞŵĂdžŝŵƵŵďĞŶĞĮƚƐ͘ZĞĐĞŶƚůLJ͕DW ;ďŝŽͲŵĞƚŚĂŶĂƟŽŶƉůĂŶƚͿǁĂƐŝŶƐƚĂůůĞĚŝŶĂƐƐŽĐŝĂƟŽŶǁŝƚŚZ͕  hƟůŝƐĞĚĐŽǁĚƵŶŐĂŶĚĚŽŵĞƐƟĐǁĂƐƚĞƚŽŐĞŶĞƌĂƚĞďŝŽŐĂƐ and bio manure DƵŵďĂŝĨŽƌďŝŽͲŐĂƐƉƌŽĚƵĐƟŽŶ͘ŝŽͲĚĞŐƌĂĚĂďůĞŵĂƩĞƌƐĨƌŽŵ ƌĞƐŝĚĞŶƟĂůĂƌĞĂƐĂƌĞĐŽůůĞĐƚĞĚ͕ƐĞŐƌĞŐĂƚĞĚĂŶĚĨĞĚŝŶƚŚŝƐϯdW Used blast furnace waste gas in furnaces as a fuel to DW͘/ƚŝƐƚŚĞŽŶůLJƉůĂŶƚŽĨŝƚƐŬŝŶĚŝŶĞŶƟƌĞŚŚĂƫƐŐĂƌŚ͘ conserve furnace oil Conducted periodic energy audits and implemented energy ĐĐŽƌĚŝŶŐƚŽƚŚĞ&ůLJƐŚEŽƟĮĐĂƟŽŶ>Ăǁ͕ǁŚŝĐŚĐĂŵĞŝŶƚŽ ĞīĞĐƚĨƌŽŵϭϵϵϵ͕:^W>ŚĂƐĂƩĂŝŶĞĚ&ůLJƐŚhƟůŝƐĂƟŽŶ^ƚĂƚƵƐ͘ ĐŽŶƐĞƌǀĂƟŽŶŵĞĂƐƵƌĞƐ Steps have already been undertaken to achieve a level of 100%  hƐĞĚŇLJĂƐŚďƌŝĐŬƐĨŽƌĐŽŶƐƚƌƵĐƟŽŶ ŇLJĂƐŚƵƟůŝƐĂƟŽŶ͘dŚĞĂƐŚŝƐƉĂƌƚůLJƵƐĞĚĨŽƌďƌŝĐŬŵĂŬŝŶŐ͕  hŶĚĞƌƚŽŽŬůĂƌŐĞͲƐĐĂůĞďŝŽĚŝǀĞƌƐŝĮĞĚĂīŽƌĞƐƚĂƟŽŶĂŶĚ ĂƐŚĚLJŬĞƌŝƐŝŶŐ͕ƌŽĂĚĂŶĚĞŵďĂŶŬŵĞŶƚĐŽŶƐƚƌƵĐƟŽŶ͕ĐĞŵĞŶƚ ŚŽƌƟĐƵůƚƵƌĞĂĐƟǀŝƟĞƐ ŵĂŶƵĨĂĐƚƵƌŝŶŐĂŶĚůĂŶĚĮůůŝŶŐ͘ƐĞƉĂƌĂƚĞďƌŝĐŬŵĂŬŝŶŐƉůĂŶƚŚĂƐ  /ŶŝƟĂƚĞĚŵĂƐƐŝǀĞƚƌĞĞƉůĂŶƚĂƟŽŶĚƌŝǀĞƐ ĂůƐŽďĞĞŶĐŽŶƐƚƌƵĐƚĞĚƚŽƵƟůŝƐĞƚŚĞŇLJĂƐŚŐĞŶĞƌĂƚĞĚĨƌŽŵƚŚĞ  ƐƚĂďůŝƐŚĞĚĂďŽƚĂŶŝĐĂůŐĂƌĚĞŶŶĂŵĞĚ^ĂŶũĞĞǀĞŶŝŽƚĂŶŝĐĂů ƉŽǁĞƌƉůĂŶƚ͘ WĂƌŬƚŽĐŽůůĞĐƚƌĂƌĞƉůĂŶƚƐ͕ĨŽůŝĂŐĞ͕ĐĂĐƟĂŶĚŚĞƌďĂůƉůĂŶƚƐ Conserve Environment  ^ĞƚƵƉ^ĂŶũŝǀĂŶŝEƵƌƐĞƌLJ͕dĂƌƵDŝƚƌĂEƵƌƐĞƌLJ͕sĂƐƵŶĚŚĂƌĂ :^W>ĐŽŶƟŶƵĞƐƚŽŝŵƉůĞŵĞŶƚƚŚĞĐŽŶƐĞƌǀĂƟŽŶŽĨŶĂƚƵƌĂů Nursery and others for in-house development of rare and ƌĞƐŽƵƌĐĞƐĂŶĚƉŽůůƵƟŽŶĐŽŶƚƌŽůŝŶŝƟĂƟǀĞƐĨĞĂƚƵƌĞĂƐƉĂƌƚŽĨŝƚƐ ƐƉĞĐŝĂůŇŽǁĞƌƐƉĞĐŝĞƐ ŽƉĞƌĂƟŽŶŵŽĚƵůĞ͘^ŽŵĞŽĨƚŚĞŝŶŝƟĂƟǀĞƐĂĐƌŽƐƐŝƚƐĂƌĞĂƐŽĨ  ,ĞůƉĞĚĐƌĞĂƚĞĂďŝŽͲĚŝǀĞƌƐŝƚLJEĂƚƵƌĞWĂƌŬǁŝƚŚĞdžŽƟĐďŝƌĚƐ

Developing a green belt

63 Annual Report 2012-13 Smt. Savitri Jindal Chairperson Emeritus ŽĂƌĚŽĨŝƌĞĐƚŽƌƐ

^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂů ^ŵƚ͘^ŚĂůůƵ:ŝŶĚĂů ^ŚƌŝZĂƚĂŶ:ŝŶĚĂů Chairman Director Director

^ŚƌŝZĂǀŝhƉƉĂů ^Śƌŝ<͘ZĂũĂŐŽƉĂů ^ŚƌŝŝŶĞƐŚ<ƵŵĂƌ^ĂƌĂŽŐŝ Managing Director & Group CEO 'ƌŽƵƉŚŝĞĨ&ŝŶĂŶĐŝĂůKĸĐĞƌ tŚŽůĞƟŵĞŝƌĞĐƚŽƌ & Director

64 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Board of Directors

^ŚƌŝZ͘s͘^ŚĂŚŝ ^Śƌŝ͘<͘WƵƌǁĂƌ Independent Director Independent Director

^ŚƌŝƌƵŶ<ƵŵĂƌ ^Śƌŝ,ĂŝŐƌĞǀĞ<ŚĂŝƚĂŶ Independent Director Independent Director

^Śƌŝ,ĂƌĚŝƉ^ŝŶŐŚtŝƌŬ ^Śƌŝ^ƵĚĞƌƐŚĂŶ<ƵŵĂƌ'ĂƌŐ ^ŚƌŝũŝƚD͘/ŶŐůĞ Independent Director Independent Director Independent Director ;EŽŵŝŶĞĞŝƌĞĐƚŽƌ͕//ĂŶŬ>ƚĚ͘Ϳ

65 Annual Report 2012-13 'ƌŽƵƉdžĞĐƵƟǀĞŽŵŵŝƩĞĞ

^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂů ^ŚƌŝZĂǀŝhƉƉĂů ^ŚƌŝŶĂŶĚ'ŽĞů Chairman Managing Director & Group CEO Joint Managing Director

^ŚƌŝZ͘^͘^ŚĂƌŵĂ ^Śƌŝ:ĂLJĂŶƚ<ĂǁĂůĞ ^Śƌŝ^ƵďƌĂƚZĂƚŚŽ Managing Director & CEO, JPL Managing Director - Managing Director - Hydro and Renewables, JPL Jindal Synfuels Limited

66 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements 'ƌŽƵƉdžĞĐƵƟǀĞŽŵŵŝƩĞĞ

^Śƌŝs͘Z͘^ŚĂƌŵĂ ^Śƌŝ<͘ZĂũĂŐŽƉĂů LJ͘DĂŶĂŐŝŶŐŝƌĞĐƚŽƌĂŶĚ 'ƌŽƵƉŚŝĞĨ&ŝŶĂŶĐŝĂůKĸĐĞƌ CEO - Steel Business & Director

^ŚƌŝZĂũĞĞǀŚĂĚĂƵƌŝĂ ^ŚƌŝsŝƌĞŶĚƌĂ<ƵŵĂƌDĞŚƚĂ Director - Group Human Resources ŝƌĞĐƚŽƌͲ^ĂůĞƐĂŶĚDĂƌŬĞƟŶŐ

67 Annual Report 2012-13 <ĞLJWĞƌĨŽƌŵĂŶĐĞ/ŶĚŝĐĂƚŽƌƐ

;`ŝŶƌŽƌĞƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚͿ

ϮϬϭϮͳϭϯ ϮϬϭϭͳϭϮ ϮϬϭϬͳϭϭ ϮϬϬϵͳϭϬ ϮϬϬϴͳϬϵ ϮϬϬϳͳϬϴ ϮϬϬϲͳϬϳ ϮϬϬϱͳϬϲ ϮϬϬϰͳϬϱ ϮϬϬϯͳϬϰ

/EKD^ddDEd ŽŶƐŽůŝĚĂƚĞĚ ^ƚĂŶĚĂůŽŶĞ ŽŶƐŽůŝĚĂƚĞĚ ^ƚĂŶĚĂůŽŶĞ ŽŶƐŽůŝĚĂƚĞĚ ^ƚĂŶĚĂůŽŶĞ ^ƚĂŶĚĂůŽŶĞ ^ƚĂŶĚĂůŽŶĞ ^ƚĂŶĚĂůŽŶĞ ^ƚĂŶĚĂůŽŶĞ ^ƚĂŶĚĂůŽŶĞ ^ƚĂŶĚĂůŽŶĞ ^ƚĂŶĚĂůŽŶĞ

KD^d/^>^ ϮϬ͕ϭϭϬ͘Ϭϯ ϭϱ͕Ϯϱϳ͘ϵϰ ϭϴ͕ϭϭϳ͘ϲϬ ϭϯ͕ϮϰϮ͘ϵϲ ϭϮ͕ϲϬϮ͘ϱϲ ϵ͕Ϭϲϱ͘ϭϰ ϳ͕ϰϴϱ͘ϭϳ ϳ͕ϰϯϲ͘ϭϲ ϱ͕ϰϳϴ͘ϲϮ ϯ͕ϯϮϲ͘ϵϱ Ϯ͕ϱϬϲ͘ϭϬ Ϯ͕ϭϮϬ͘ϴϯ ϭ͕ϯϬϵ͘ϲϵ

EXPORTS ϭ͕ϲϮϳ͘ϵϬ ϭ͕ϲϮϳ͘ϵϬ ϭ͕ϰϵϴ͘ϴϱ ϭ͕ϰϵϴ͘ϴϱ ϭ͕ϯϵϱ͘ϴϯ ϭ͕ϯϵϱ͘ϴϯ ϰϭϬ͘ϰϭ ϭ͕ϬϮϭ͘ϯϳ ϲϱϯ͘Ϭϭ ϱϵϮ͘ϴϰ ϯϳϭ͘ϴϱ ϯϮϵ͘Ϭϰ ϴϯ͘ϭϬ

Kd,Z/EKD ϭϯϲ͘ϰϮ ϭϱϵ͘Ϯϴ ϭϰϭ͘ϵϰ ϭϴϰ͘ϰϴ ϴϮ͘ϬϬ ϭϰϯ͘ϭϲ ϭϭϳ͘ϯϭ ϭϮϮ͘ϱϮ ϰϵ͘ϭϮ Ϯϴ͘ϵϳ Ϯϳ͘ϱϭ ϭϳ͘ϰϯ ϭϭ͘Ϯϱ

GROSS SALES & OTHER Ϯϭ͕ϴϳϰ͘ϯϱ ϭϳ͕Ϭϰϱ͘ϭϮ ϭϵ͕ϳϱϴ͘ϯϵ ϭϰ͕ϵϮϲ͘Ϯϵ ϭϰ͕ϬϴϬ͘ϯϵ ϭϬ͕ϲϬϰ͘ϭϰ ϴ͕ϬϭϮ͘ϴϵ ϴ͕ϱϴϬ͘Ϭϱ ϲ͕ϭϴϬ͘ϳϱ ϯ͕ϵϰϴ͘ϳϲ Ϯ͕ϵϬϱ͘ϰϲ Ϯ͕ϰϲϳ͘ϯϬ ϭ͕ϰϬϯ͘ϵϰ /EKD

NET SALES & OTHER ϭϵ͕ϵϰϯ͘ϮϬ ϭϱ͕ϭϭϯ͘ϵϴ ϭϴ͕ϯϱϬ͘ϱϰ ϭϯ͕ϱϭϴ͘ϰϯ ϭϯ͕ϭϵϯ͘ϱϵ ϵ͕ϳϭϳ͘ϯϰ ϳ͕ϰϴϰ͘ϵϬ ϳ͕ϳϵϵ͘ϰϯ ϱ͕ϰϱϵ͘ϴϳ ϯ͕ϱϰϴ͘ϳϴ Ϯ͕ϲϭϳ͘ϳϲ Ϯ͕Ϯϳϭ͘Ϭϯ ϭ͕ϮϳϮ͘ϴϲ /EKD

OPERATING PROFITS ϲ͕ϭϯϬ͘ϴϯ ϰ͕Ϭϵϳ͘ϳϯ ϲ͕ϵϯϱ͘ϭϭ ϰ͕Ϯϰϲ͘ϵϳ ϲ͕ϯϵϴ͘ϱϵ ϯ͕ϳϮϱ͘ϳϭ Ϯ͕ϲϭϮ͘ϭϯ Ϯ͕ϲϬϯ͘ϴϮ Ϯ͕ϭϲϮ͘ϲϭ ϭ͕ϰϯϭ͘ϱϴ ϭ͕Ϭϯϰ͘ϯϯ ϵϬϳ͘ϱϰ ϱϭϭ͘ϳϴ ΈW/dΉ

PROFIT AFTER TAX Ϯ͕ϵϭϭ͘ϲϮ ϭ͕ϱϵϮ͘ϱϱ ϰ͕ϬϬϮ͘Ϯϲ Ϯ͕ϭϭϬ͘ϲϱ ϯ͕ϴϬϰ͘Ϭϭ Ϯ͕Ϭϲϰ͘ϭϮ ϭ͕ϰϳϵ͘ϲϴ ϭ͕ϱϯϲ͘ϰϴ ϭ͕Ϯϯϲ͘ϵϲ ϳϬϮ͘ϵϵ ϱϳϮ͘ϵϰ ϱϭϱ͘ϳϬ ϯϬϱ͘ϰϲ ΈWdΉ

CASH PROFIT ϰ͕ϱϵϯ͘ϵϮ Ϯ͕ϳϴϴ͘ϭϲ ϱ͕ϱϳϱ͘ϮϬ ϯ͕ϭϲϳ͘ϯϮ ϱ͕ϭϭϱ͘ϬϮ Ϯ͕ϵϭϱ͘ϮϮ Ϯ͕ϭϬϳ͘Ϭϳ Ϯ͕Ϭϳϰ͘ϴϭ ϭ͕ϳϲϴ͘ϭϬ ϭ͕ϭϳϰ͘Ϯϭ ϴϱϴ͘ϰϭ ϳϲϱ͘ϳϲ ϰϯϰ͘Ϯϱ

BALANCE SHEET

GROSS BLOCK ϰϰ͕ϳϴϲ͘Ϭϯ ϯϬ͕ϯϰϳ͘Ϯϵ ϯϱ͕ϴϬϮ͘ϭϭ Ϯϱ͕ϲϴϰ͘ϭϮ Ϯϵ͕ϯϭϲ͘ϱϬ ϭϵ͕ϴϲϱ͘ϮϮ ϭϱ͕Ϯϰϵ͘ϰϵ ϵ͕ϲϴϬ͘ϵϮ ϲ͕ϱϳϵ͘ϰϮ ϱ͕ϴϲϲ͘ϴϳ ϰ͕ϯϴϵ͘ϯϮ Ϯ͕ϴϳϱ͘ϵϴ ϭ͕ϵϲϲ͘ϵϳ

NET BLOCK ϯϳ͕ϯϱϳ͘ϰϵ Ϯϱ͕ϲϮϮ͘ϯϭ Ϯϵ͕ϵϲϲ͘Ϭϳ ϮϮ͕ϬϮϴ͘ϴϳ Ϯϰ͕ϴϴϰ͘ϯϴ ϭϳ͕Ϭϳϴ͘Ϯϵ ϭϯ͕ϭϯϵ͘ϯϰ ϴ͕Ϭϲϯ͘ϵϭ ϱ͕ϯϵϲ͘ϯϭ ϱ͕Ϭϴϱ͘ϭϮ ϯ͕ϴϰϲ͘ϵϵ Ϯ͕ϱϭϰ͘ϮϮ ϭ͕ϳϭϵ͘ϵϳ

SHARE CAPITAL

Yh/dz ϵϯ͘ϰϴ ϵϯ͘ϰϴ ϵϯ͘ϰϴ ϵϯ͘ϰϴ ϵϯ͘ϰϯ ϵϯ͘ϰϯ ϵϯ͘ϭϮ ϭϱ͘ϰϳ ϭϱ͘ϰϬ ϭϱ͘ϰϬ ϭϱ͘ϰϬ ϭϱ͘ϰϬ ϭϱ͘ϰϬ

PREFERENCE ͳͳ ͳͳͳͳͳͳͳͳͳͳͳ

NET WORTH ϮϬ͕ϭϬϰ͘ϴϭ ϭϮ͕ϯϯϬ͘Ϯϱ ϭϳ͕ϵϯϭ͘ϮϬ ϭϬ͕ϴϯϭ͘ϯϭ ϭϰ͕Ϭϴϴ͘ϭϬ ϴ͕ϲϴϲ͘ϭϱ ϲ͕ϳϮϬ͘ϲϰ ϱ͕ϯϴϱ͘ϭϭ ϯ͕ϳϮϮ͘ϭϮ Ϯ͕ϰϳϱ͘ϭϳ ϭ͕ϴϯϳ͘ϵϮ 1,317 37 ϴϱϯ͘ϴϳ

BORROWINGS Ϯϰ͕ϲϭϴ͘ϭϲ ϮϬ͕ϰϳϬ͘Ϯϴ ϭϳ͕ϬϵϬ͘ϴϬ ϭϱ͕ϳϭϰ͘ϯϮ ϭϯ͕ϵϳϲ͘ϱϵ ϭϮ͕ϭϭϬ͘ϵϭ ϴ͕ϯϴϯ͘Ϯϲ ϰ͕ϵϲϮ͘ϲϱ ϯ͕ϴϲϯ͘ϯϱ ϯ͕ϱϬϳ͘ϳϮ Ϯ͕ϳϰϱ͘ϯϳ ϭ͕ϰϵϱ͘ϴϲ ϭ͕ϬϮϱ͘ϵϲ

SIGNIFICANT RATIOS

OPERATING PROFIT TO 31 27 38 31 48 38 35 33 40 41 40 40 40 Ed^>^ΈйΉ

NET PROFIT TO NET 15 11 22 16 29 22 20 20 23 20 22 23 24 ^>^ΈйΉ

TOTAL DEBT TO ϭ͘ϭϱ ϭ͘ϲϲ Ϭ͘ϵϱ ϭ͘ϰϱ Ϭ͘ϵϵ ϭ͘ϯϵ ϭ͘Ϯϱ Ϭ͘ϵϮ ϭ͘Ϭϯ ϭ͘ϰϬ ϭ͘ϰϵ ϭ͘ϭϯ ϭ͘Ϭϵ Yh/dzZd/K

ZdhZEKEW/d> 15 13 21 17 22 17 16 24 25 21 22 28 24 DW>KzΈйΉ

ZdhZEKEEd 14 13 22 19 27 24 22 29 33 28 31 39 36 tKZd,ΈйΉ

WZYh/dz^,Z^

KK<s>hΈ`Ή Ϯϭϱ͘Ϭϲ ϭϯϭ͘ϵϬ ϭϵϭ͘ϴϮ ϭϭϱ͘ϴϳ ϭϱϬ͘ϳϵ ϵϮ͘ϵϱ ϳϮ͘ϭϳ ϯϰϴ͘Ϯϭ Ϯϰϭ͘ϳϲ ϭϲϬ͘ϳϳ ϭϭϵ͘ϰϬ ϴϱ͘ϲϬ ϱϱ͘ϰϬ

W^ΈEEh>/^ΉΈ`Ή ϯϭ͘ϭϯ ϭϳ͘Ϭϰ ϰϮ͘ϰϮ ϮϮ͘ϱϴ ϰϬ͘ϮϮ ϮϮ͘ϭϭ ϭϱ͘ϵϬ ϭϲ͘ϱϳΎ ϭϯ͘ϯϵΎ ϳ͘ϲϭΎ ϲ͘ϮϬΎ ϱ͘ϱϴΎ ϯ͘ϯϰΎ

/s/EZdΈйΉ 160 160 160 160 150 150 125 ϭϭϬΎ ϴϬΎ ϳϮΎ ϲϬΎ ϲϬΎ ϰϬΎ

ΎEŽƌŵĂůŝƐĞĚŽŶĂĐĐŽƵŶƚŽĨŝƐƐƵĞŽĨďŽŶƵƐƐŚĂƌĞƐŝŶƚŚĞƌĂƟŽŽĨϱ͗ϭĚƵƌŝŶŐϮϬϬϵͲϭϬ

68 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůKǀĞƌǀŝĞǁ Statutory Reports Financial Statements EŽƟĐĞ

Notice

To, ϵ͘ dŽĐŽŶƐŝĚĞƌĂŶĚ͕ŝĨƚŚŽƵŐŚƚĮƚ͕ƚŽƉĂƐƐǁŝƚŚŽƌǁŝƚŚŽƵƚ ŵŽĚŝĮĐĂƟŽŶ;ƐͿ ƚŚĞ ĨŽůůŽǁŝŶŐ ƌĞƐŽůƵƟŽŶ ĂƐ ĂŶ KƌĚŝŶĂƌLJ The Members, ZĞƐŽůƵƟŽŶ͗ Jindal Steel & Power Limited “RESOLVED THAT ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ƚŚĞ ƉƌŽǀŝƐŝŽŶƐ ŽĨ EŽƟĐĞŝƐŚĞƌĞďLJŐŝǀĞŶƚŚĂƚϯϰƚŚŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐŽĨƚŚĞ ^ĞĐƟŽŶ Ϯϱϳ ĂŶĚ Ăůů ŽƚŚĞƌ ĂƉƉůŝĐĂďůĞ ƉƌŽǀŝƐŝŽŶƐ͕ ŝĨ ĂŶLJ͕ ŽĨ ŵĞŵďĞƌƐŽĨƚŚĞŽŵƉĂŶLJǁŝůůďĞŚĞůĚŽŶDŽŶĚĂLJ͕ƚŚĞϯϬƚŚĚĂLJ ƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲ͕^ŚƌŝŝŶĞƐŚ<ƵŵĂƌ^ĂƌĂŽŐŝďĞĂŶĚ ŽĨ ^ĞƉƚĞŵďĞƌ͕ϮϬϭϯ Ăƚ ϭϮ͘ϬϬ ŶŽŽŶ  Ăƚ ƚŚĞ ƌĞŐŝƐƚĞƌĞĚ ŽĸĐĞ ŽĨ ŝƐŚĞƌĞďLJĂƉƉŽŝŶƚĞĚĂƐŝƌĞĐƚŽƌŽĨƚŚĞŽŵƉĂŶLJ͕ůŝĂďůĞƚŽ ƚŚĞŽŵƉĂŶLJĂƚK͘W͘:ŝŶĚĂůDĂƌŐ͕,ŝƐĂƌʹϭϮϱϬϬϱ͕,ĂƌLJĂŶĂƚŽ ƌĞƟƌĞďLJƌŽƚĂƟŽŶ͘͟ ƚƌĂŶƐĂĐƚƚŚĞĨŽůůŽǁŝŶŐďƵƐŝŶĞƐƐ͗ ϭϬ͘ dŽĐŽŶƐŝĚĞƌĂŶĚ͕ŝĨƚŚŽƵŐŚƚĮƚ͕ƚŽƉĂƐƐǁŝƚŚŽƌǁŝƚŚŽƵƚ ŵŽĚŝĮĐĂƟŽŶ;ƐͿ ƚŚĞ ĨŽůůŽǁŝŶŐ ƌĞƐŽůƵƟŽŶ ĂƐ ĂŶ KƌĚŝŶĂƌLJ ORDINARY BUSINESS ZĞƐŽůƵƟŽŶ͗ ϭ͘ dŽƌĞĐĞŝǀĞ͕ĐŽŶƐŝĚĞƌĂŶĚĂĚŽƉƚƚŚĞĂůĂŶĐĞ^ŚĞĞƚĂƐĂƚϯϭƐƚ “RESOLVED THATƉƵƌƐƵĂŶƚƚŽ^ĞĐƟŽŶƐϭϵϴ͕Ϯϲϵ͕ϯϬϵĂŶĚ DĂƌĐŚ͕ ϮϬϭϯ ĂŶĚ WƌŽĮƚ Θ >ŽƐƐ ĐĐŽƵŶƚ ĨŽƌ ƚŚĞ ĮŶĂŶĐŝĂů Ăůů ŽƚŚĞƌ ĂƉƉůŝĐĂďůĞ ƉƌŽǀŝƐŝŽŶƐ ĂŶĚ ^ĐŚĞĚƵůĞ y/// ƚŽ ƚŚĞ LJĞĂƌĞŶĚĞĚŽŶƚŚĂƚĚĂƚĞĂŶĚƚŚĞZĞƉŽƌƚƐŽĨŝƌĞĐƚŽƌƐĂŶĚ ŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲƌĞĂĚǁŝƚŚƌƟĐůĞϭϯϵŽĨƚŚĞƌƟĐůĞƐ ƵĚŝƚŽƌƐƚŚĞƌĞŽŶ͘ ŽĨƐƐŽĐŝĂƟŽŶŽĨƚŚĞŽŵƉĂŶLJ͕^ŚƌŝZĂǀŝhƉƉĂůďĞĂŶĚŝƐ Ϯ͘ dŽĚĞĐůĂƌĞĚŝǀŝĚĞŶĚŽŶĞƋƵŝƚLJƐŚĂƌĞƐ͘ ŚĞƌĞďLJ ĂƉƉŽŝŶƚĞĚ ĂƐ DĂŶĂŐŝŶŐ ŝƌĞĐƚŽƌ Θ K ŽĨ ƚŚĞ ŽŵƉĂŶLJ ĨŽƌ ĮǀĞ LJĞĂƌƐ ĨƌŽŵ ϭƐƚ KĐƚŽďĞƌ͕ ϮϬϭϮ ŽŶ ƚŚĞ ϯ͘ dŽ ĂƉƉŽŝŶƚ Ă ŝƌĞĐƚŽƌ ŝŶ ƉůĂĐĞ ŽĨ ^Śƌŝ EĂǀĞĞŶ :ŝŶĚĂů ǁŚŽ ĨŽůůŽǁŝŶŐƚĞƌŵƐĂŶĚĐŽŶĚŝƟŽŶƐ͗ ƌĞƟƌĞƐ ďLJ ƌŽƚĂƟŽŶ ĂŶĚ ďĞŝŶŐ ĞůŝŐŝďůĞ ŽīĞƌƐ ŚŝŵƐĞůĨ ĨŽƌ ƌĞͲĂƉƉŽŝŶƚŵĞŶƚ͘ ;ĂͿ ĂƐŝĐƐĂůĂƌLJŽĨ`ϵ͕ϭϲ͕ϲϲϳͬͲ;ZƵƉĞĞƐŶŝŶĞůĂĐƐƐŝdžƚĞĞŶ ϰ͘ dŽ ĂƉƉŽŝŶƚ Ă ŝƌĞĐƚŽƌ ŝŶ ƉůĂĐĞ ŽĨ ^Śƌŝ Z͘s͘ ^ŚĂŚŝ ǁŚŽ ƚŚŽƵƐĂŶĚƐŝdžŚƵŶĚƌĞĚƐŝdžƚLJƐĞǀĞŶŽŶůLJͿƉĞƌŵŽŶƚŚ͘ ƌĞƟƌĞƐ ďLJ ƌŽƚĂƟŽŶ ĂŶĚ ďĞŝŶŐ ĞůŝŐŝďůĞ ŽīĞƌƐ ŚŝŵƐĞůĨ ĨŽƌ ;ďͿ &ůĞdžŝďůĞŽŵƉĞŶƐĂƟŽŶWůĂŶŽĨ`ϭϮ͕ϲϱ͕ϬϬϬͬͲ;ZƵƉĞĞƐ ƌĞͲĂƉƉŽŝŶƚŵĞŶƚ͘ ƚǁĞůǀĞůĂĐƐƐŝdžƚLJĮǀĞƚŚŽƵƐĂŶĚŽŶůLJͿƉĞƌŵŽŶƚŚ͘ ϱ͘ dŽ ĂƉƉŽŝŶƚ Ă ŝƌĞĐƚŽƌ ŝŶ ƉůĂĐĞ ŽĨ ^Śƌŝ ƌƵŶ <ƵŵĂƌ ǁŚŽ ;ĐͿ WƌŽĮƚƐŚĂƌŝŶŐƉĞƌĂŶŶƵŵΛϬ͘ϭйŽĨƚŚĞŶĞƚƉƌŽĮƚƐ ƌĞƟƌĞƐ ďLJ ƌŽƚĂƟŽŶ ĂŶĚ ďĞŝŶŐ ĞůŝŐŝďůĞ ŽīĞƌƐ ŚŝŵƐĞůĨ ĨŽƌ ĂŌĞƌ ƚĂdž ;WdͿ ĂƐ ƉĞƌ ƚŚĞ ĐŽŶƐŽůŝĚĂƚĞĚ ĮŶĂŶĐŝĂů ƌĞͲĂƉƉŽŝŶƚŵĞŶƚ͘ ƐƚĂƚĞŵĞŶƚƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ĨŽƌ ƚŚĞ ƌĞƐƉĞĐƟǀĞ ϲ͘ dŽ ĂƉƉŽŝŶƚ DͬƐ ^͘^͘ <ŽƚŚĂƌŝ DĞŚƚĂ Θ Ž͕͘ ŚĂƌƚĞƌĞĚ ĮŶĂŶĐŝĂůLJĞĂƌƐ͘ ĐĐŽƵŶƚĂŶƚƐ;&ŝƌŵZĞŐŝƐƚƌĂƟŽŶŶŽ͘ϬϬϬϳϱϲEͿĂƐƵĚŝƚŽƌƐ ;ĚͿ ^ŚĂƌĞƐ ƵŶĚĞƌ ŵƉůŽLJĞĞ ^ƚŽĐŬ WƵƌĐŚĂƐĞ ^ĐŚĞŵĞ ʹ ŽĨƚŚĞŽŵƉĂŶLJƚŽŚŽůĚŽĸĐĞĨƌŽŵƚŚĞĐŽŶĐůƵƐŝŽŶŽĨƚŚŝƐ ϮϬϭϯ;:^W>^W^ϮϬϭϯͿǁŽƌƚŚ`ϱϬ͕ϬϬ͕ϬϬϬ;ZƵƉĞĞƐĮŌLJ ŵĞĞƟŶŐƵƉƚŽƚŚĞĐŽŶĐůƵƐŝŽŶŽĨƚŚĞŶĞdžƚŵĞĞƟŶŐĂŶĚƚŽĮdž ůĂĐƐŽŶůLJͿƉĞƌĂŶŶƵŵ͕ƐƵďũĞĐƚƚŽƌĞƋƵŝƐŝƚĞĂƉƉƌŽǀĂůƐ ƚŚĞŝƌƌĞŵƵŶĞƌĂƟŽŶ͘ ƵŶĚĞƌƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲĂŶĚ^/'ƵŝĚĞůŝŶĞƐͬ ZĞŐƵůĂƟŽŶƐĞƚĐ͘ SPECIAL BUSINESS ;ĞͿ ĞŶĞĮƚƐ͕ ƉĞƌƋƵŝƐŝƚĞƐ͕ ĂůůŽǁĂŶĐĞƐ͕ ƌĞŝŵďƵƌƐĞŵĞŶƚƐ ϳ͘ dŽĐŽŶƐŝĚĞƌĂŶĚ͕ŝĨƚŚŽƵŐŚƚĮƚ͕ƚŽƉĂƐƐǁŝƚŚŽƌǁŝƚŚŽƵƚ ĂŶĚ ĨĂĐŝůŝƟĞƐ ĂƐ ŵĂLJ ďĞ ĚĞƚĞƌŵŝŶĞĚ ďLJ ƚŚĞ ŽĂƌĚ͕ ŵŽĚŝĮĐĂƟŽŶ;ƐͿ ƚŚĞ ĨŽůůŽǁŝŶŐ ƌĞƐŽůƵƟŽŶ ĂƐ ĂŶ KƌĚŝŶĂƌLJ ĨƌŽŵƟŵĞƚŽƟŵĞ͘ ZĞƐŽůƵƟŽŶ͗ “RESOLVED THAT ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ƚŚĞ ƉƌŽǀŝƐŝŽŶƐ ŽĨ RESOLVED FURTHER THAT ŶŽƚǁŝƚŚƐƚĂŶĚŝŶŐ ĂŶLJƚŚŝŶŐ ƚŽ ^ĞĐƟŽŶ Ϯϱϳ ĂŶĚ Ăůů ŽƚŚĞƌ ĂƉƉůŝĐĂďůĞ ƉƌŽǀŝƐŝŽŶƐ͕ ŝĨ ĂŶLJ͕ ŽĨ ƚŚĞĐŽŶƚƌĂƌLJĐŽŶƚĂŝŶĞĚŚĞƌĞŝŶĂďŽǀĞ͕ǁŚĞƌĞŝŶĂŶLJĮŶĂŶĐŝĂů ƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲ͕^ŚƌŝZĂǀŝhƉƉĂů͕ďĞĂŶĚŝƐŚĞƌĞďLJ LJĞĂƌĚƵƌŝŶŐƚŚĞĐƵƌƌĞŶĐLJŽĨŚŝƐƚĞŶƵƌĞ͕ƚŚĞŽŵƉĂŶLJŚĂƐŶŽ ĂƉƉŽŝŶƚĞĚĂƐŝƌĞĐƚŽƌŽĨƚŚĞŽŵƉĂŶLJ͕ůŝĂďůĞƚŽƌĞƟƌĞďLJ ƉƌŽĮƚƐŽƌŝƚƐƉƌŽĮƚƐĂƌĞŝŶĂĚĞƋƵĂƚĞ͕ƚŚĞŽŵƉĂŶLJǁŝůůƉĂLJ ƌŽƚĂƟŽŶ͘͟ ƌĞŵƵŶĞƌĂƟŽŶďLJǁĂLJŽĨďĂƐŝĐƐĂůĂƌLJ͕ƐŚĂƌĞŝŶƉƌŽĮƚ͕^ŚĂƌĞƐ ƵŶĚĞƌ :^W> ^W^ ϮϬϭϯ͕ ďĞŶĞĮƚƐ͕ ƉĞƌƋƵŝƐŝƚĞƐ͕ ĂůůŽǁĂŶĐĞƐ͕ ϴ͘ dŽĐŽŶƐŝĚĞƌĂŶĚ͕ŝĨƚŚŽƵŐŚƚĮƚ͕ƚŽƉĂƐƐǁŝƚŚŽƌǁŝƚŚŽƵƚ ƌĞŝŵďƵƌƐĞŵĞŶƚƐĂŶĚĨĂĐŝůŝƟĞƐĂƐƐƉĞĐŝĮĞĚĂďŽǀĞ͘͟ ŵŽĚŝĮĐĂƟŽŶ;ƐͿ ƚŚĞ ĨŽůůŽǁŝŶŐ ƌĞƐŽůƵƟŽŶ ĂƐ ĂŶ KƌĚŝŶĂƌLJ ZĞƐŽůƵƟŽŶ͗ ϭϭ͘ dŽĐŽŶƐŝĚĞƌĂŶĚ͕ŝĨƚŚŽƵŐŚƚĮƚ͕ƚŽƉĂƐƐǁŝƚŚŽƌǁŝƚŚŽƵƚ “RESOLVED THAT ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ƚŚĞ ƉƌŽǀŝƐŝŽŶƐ ŽĨ ŵŽĚŝĮĐĂƟŽŶ;ƐͿ͕ƚŚĞĨŽůůŽǁŝŶŐƌĞƐŽůƵƟŽŶĂƐĂŶKƌĚŝŶĂƌLJ ^ĞĐƟŽŶ Ϯϱϳ ĂŶĚ Ăůů ŽƚŚĞƌ ĂƉƉůŝĐĂďůĞ ƉƌŽǀŝƐŝŽŶƐ͕ ŝĨ ĂŶLJ͕ ŽĨ ZĞƐŽůƵƟŽŶ͗ ƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲ͕^Śƌŝ^ƵĚĞƌƐŚĂŶ<ƵŵĂƌ'ĂƌŐďĞ “RESOLVED THATƉƵƌƐƵĂŶƚƚŽ^ĞĐƟŽŶƐϭϵϴ͕Ϯϲϵ͕ϯϬϵĂŶĚ ĂŶĚŝƐŚĞƌĞďLJĂƉƉŽŝŶƚĞĚĂƐŝƌĞĐƚŽƌŽĨƚŚĞŽŵƉĂŶLJ͕ůŝĂďůĞ Ăůů ŽƚŚĞƌ ĂƉƉůŝĐĂďůĞ ƉƌŽǀŝƐŝŽŶƐ ĂŶĚ ^ĐŚĞĚƵůĞ y/// ƚŽ ƚŚĞ ƚŽƌĞƟƌĞďLJƌŽƚĂƟŽŶ͘͟ ŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲƌĞĂĚǁŝƚŚƌƟĐůĞϭϯϵŽĨƚŚĞƌƟĐůĞƐ

69 Annual Report 2012-13 ŽĨƐƐŽĐŝĂƟŽŶŽĨƚŚĞŽŵƉĂŶLJ͕^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂůďĞĂŶĚŝƐ ;ĞͿ ĞŶĞĮƚƐ͕ ƉĞƌƋƵŝƐŝƚĞƐ͕ ĂůůŽǁĂŶĐĞƐ͕ ƌĞŝŵďƵƌƐĞŵĞŶƚƐ ŚĞƌĞďLJĂƉƉŽŝŶƚĞĚĂƐtŚŽůĞƟŵĞŝƌĞĐƚŽƌŽĨƚŚĞŽŵƉĂŶLJ ĂŶĚ ĨĂĐŝůŝƟĞƐ ĂƐ ŵĂLJ ďĞ ĚĞƚĞƌŵŝŶĞĚ ďLJ ƚŚĞ ŽĂƌĚ͕ ĨŽƌ ĮǀĞ LJĞĂƌƐ ĨƌŽŵ ϭƐƚ KĐƚŽďĞƌ͕ ϮϬϭϮ ĂŶĚ ĚĞƐŝŐŶĂƚĞĚ ĂƐ ĨƌŽŵƟŵĞƚŽƟŵĞ͘ ŚĂŝƌŵĂŶ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ŽŶ ƚŚĞ ĨŽůůŽǁŝŶŐ ƚĞƌŵƐ ĂŶĚ RESOLVED FURTHER THAT ŶŽƚǁŝƚŚƐƚĂŶĚŝŶŐ ĂŶLJƚŚŝŶŐ ƚŽ ĐŽŶĚŝƟŽŶƐ͗ ƚŚĞĐŽŶƚƌĂƌLJĐŽŶƚĂŝŶĞĚŚĞƌĞŝŶĂďŽǀĞ͕ǁŚĞƌĞŝŶĂŶLJĮŶĂŶĐŝĂů ;ĂͿ ĂƐŝĐ^ĂůĂƌLJŽĨ`ϵϬ͕ϬϬ͕ϬϬϬ;ZƵƉĞĞƐŶŝŶĞƚLJůĂĐƐŽŶůLJͿ LJĞĂƌĚƵƌŝŶŐƚŚĞĐƵƌƌĞŶĐLJŽĨŚŝƐƚĞŶƵƌĞ͕ƚŚĞŽŵƉĂŶLJŚĂƐŶŽ ƉĞƌŵŽŶƚŚŝŶƚŚĞƉĂLJƐĐĂůĞŽĨ`ϵϬ͕ϬϬ͕ϬϬϬʹϭϬ͕ϬϬ͕ϬϬϬ ƉƌŽĮƚƐŽƌŝƚƐƉƌŽĮƚƐĂƌĞŝŶĂĚĞƋƵĂƚĞ͕ƚŚĞŽŵƉĂŶLJǁŝůůƉĂLJ ʹϭ͕ϯϬ͕ϬϬ͕ϬϬϬ͘ ƌĞŵƵŶĞƌĂƟŽŶďLJǁĂLJŽĨďĂƐŝĐƐĂůĂƌLJ͕ŵĂŶĂŐĞŵĞŶƚŝŶĐĞŶƟǀĞ͕ ;ďͿ ^ŚĂƌĞŝŶƉƌŽĮƚƐŽĨϭ͘ϱйŽĨŶĞƚƉƌŽĮƚƐ;ŽŶƐƚĂŶĚĂůŽŶĞ ďĞŶĞĮƚƐ͕ ƉĞƌƋƵŝƐŝƚĞƐ͕ ĂůůŽǁĂŶĐĞƐ͕ ƌĞŝŵďƵƌƐĞŵĞŶƚƐ ĂŶĚ ďĂƐŝƐͿƉĞƌĂŶŶƵŵŽĨƚŚĞŽŵƉĂŶLJ ĨĂĐŝůŝƟĞƐĂƐƐƉĞĐŝĮĞĚĂďŽǀĞ͘͟ ;ĐͿ ĞŶĞĮƚƐ͕ ƉĞƌƋƵŝƐŝƚĞƐ͕ ĂůůŽǁĂŶĐĞƐ͕ ƌĞŝŵďƵƌƐĞŵĞŶƚƐ ϭϯ͘ dŽĐŽŶƐŝĚĞƌĂŶĚ͕ŝĨƚŚŽƵŐŚƚĮƚ͕ƚŽƉĂƐƐǁŝƚŚŽƌǁŝƚŚŽƵƚ ĂŶĚ ĨĂĐŝůŝƟĞƐ ĂƐ ŵĂLJ ďĞ ĚĞƚĞƌŵŝŶĞĚ ďLJ ƚŚĞ ŽĂƌĚ͕ ŵŽĚŝĮĐĂƟŽŶ;ƐͿ͕ƚŚĞĨŽůůŽǁŝŶŐƌĞƐŽůƵƟŽŶĂƐĂŶKƌĚŝŶĂƌLJ ĨƌŽŵƟŵĞƚŽƟŵĞ͘ ZĞƐŽůƵƟŽŶ͗ “RESOLVED THAT ƉƵƌƐƵĂŶƚ ƚŽ ƚŚĞ ^ĞĐƟŽŶƐ ϭϵϴ͕ Ϯϲϵ͕ RESOLVED FURTHER THAT ŶŽƚǁŝƚŚƐƚĂŶĚŝŶŐ ĂŶLJƚŚŝŶŐ ƚŽ ϯϬϵ ĂŶĚ ŽƚŚĞƌ ĂƉƉůŝĐĂďůĞ ƉƌŽǀŝƐŝŽŶƐ͕ ^ĐŚĞĚƵůĞ y/// ƚŽ ƚŚĞĐŽŶƚƌĂƌLJĐŽŶƚĂŝŶĞĚŚĞƌĞŝŶĂďŽǀĞ͕ǁŚĞƌĞŝŶĂŶLJĮŶĂŶĐŝĂů ƚŚĞ ŽŵƉĂŶŝĞƐ Đƚ͕ ϭϵϱϲ ĂŶĚ ƌƟĐůĞ ϭϯϵ ŽĨ ƌƟĐůĞƐ ŽĨ LJĞĂƌĚƵƌŝŶŐƚŚĞĐƵƌƌĞŶĐLJŽĨŚŝƐƚĞŶƵƌĞ͕ƚŚĞŽŵƉĂŶLJŚĂƐ ƐƐŽĐŝĂƟŽŶ ŽĨ ƚŚĞ ŽŵƉĂŶLJ͕ ^Śƌŝ ŝŶĞƐŚ <ƵŵĂƌ ^ĂƌĂŽŐŝ ŶŽƉƌŽĮƚƐŽƌŝƚƐƉƌŽĮƚƐĂƌĞŝŶĂĚĞƋƵĂƚĞ͕ƚŚĞŽŵƉĂŶLJǁŝůů ďĞĂŶĚŝƐŚĞƌĞďLJĂƉƉŽŝŶƚĞĚĂƐtŚŽůĞƟŵĞŝƌĞĐƚŽƌŽĨƚŚĞ ƉĂLJ ƌĞŵƵŶĞƌĂƟŽŶ ďLJ ǁĂLJ ŽĨ ďĂƐŝĐ ƐĂůĂƌLJ͕ ƐŚĂƌĞ ŝŶ ƉƌŽĮƚ͕ ďĞŶĞĮƚƐ͕ ƉĞƌƋƵŝƐŝƚĞƐ͕ ĂůůŽǁĂŶĐĞƐ͕ ƌĞŝŵďƵƌƐĞŵĞŶƚƐ ĂŶĚ ŽŵƉĂŶLJ ĨŽƌ Ă ƉĞƌŝŽĚ ŽĨ ĮǀĞ LJĞĂƌƐ ǁŝƚŚ ĞīĞĐƚ ĨƌŽŵ ϵƚŚ ĨĂĐŝůŝƟĞƐĂƐƐƉĞĐŝĮĞĚĂďŽǀĞ͘ EŽǀĞŵďĞƌ͕ϮϬϭϮŽŶƚŚĞĨŽůůŽǁŝŶŐƚĞƌŵƐĂŶĚĐŽŶĚŝƟŽŶƐ͗ ` RESOLVED FURTHER THAT ƐŚĂƌĞ ŝŶ ƉƌŽĮƚƐ ƉĂLJĂďůĞ ƚŽ ;ĨͿ ĂƐŝĐ ƐĂůĂƌLJ ŽĨ  ϯ͕ϭϴ͕ϳϬϭͬͲ ;ZƵƉĞĞƐ ƚŚƌĞĞ ůĂĐƐ ^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂůŝŶƚŚĞĐĂƉĂĐŝƚLJŽĨDĂŶĂŐŝŶŐŝƌĞĐƚŽƌŽĨ ĞŝŐŚƚĞĞŶ ƚŚŽƵƐĂŶĚ ƐĞǀĞŶ ŚƵŶĚƌĞĚ ŽŶĞ ŽŶůLJͿ ƉĞƌ ƚŚĞŽŵƉĂŶLJĨŽƌƚŚĞƉĞƌŝŽĚĨƌŽŵϭƐƚƉƌŝů͕ϮϬϭϮƚŽϯϬƚŚ ŵŽŶƚŚ͘ ^ĞƉƚĞŵďĞƌ͕ϮϬϭϮŝƐĂůƐŽƌĞǀŝƐĞĚƚŽϭ͘ϱйŽĨEĞƚWƌŽĮƚƐ;ŽŶ ;ŐͿ &ůĞdžŝďůĞŽŵƉĞŶƐĂƟŽŶWůĂŶŽĨ`ϰ͕ϲϮ͕ϳϮϳͬͲ;ZƵƉĞĞƐ ƐƚĂŶĚĂůŽŶĞďĂƐŝƐͿƉĞƌĂŶŶƵŵŽĨƚŚĞŽŵƉĂŶLJĨŽƌĮŶĂŶĐŝĂů ĨŽƵƌ ůĂĐƐ ƐŝdžƚLJ ƚǁŽ ƚŚŽƵƐĂŶĚ ƐĞǀĞŶ ŚƵŶĚƌĞĚ ƚǁĞŶƚLJ LJĞĂƌϮϬϭϮͲϭϯ͘͟ ƐĞǀĞŶŽŶůLJͿƉĞƌŵŽŶƚŚ͘ ϭϮ͘ dŽĐŽŶƐŝĚĞƌĂŶĚ͕ŝĨƚŚŽƵŐŚƚĮƚ͕ƚŽƉĂƐƐǁŝƚŚŽƌǁŝƚŚŽƵƚ ;ŚͿ WĞƌĨŽƌŵĂŶĐĞďĂƐĞĚdĂƌŐĞƚsĂƌŝĂďůĞWĂLJŽĨ`ϭ͕ϴϬ͕ϯϮϴͬͲ ŵŽĚŝĮĐĂƟŽŶ;ƐͿ͕ƚŚĞĨŽůůŽǁŝŶŐƌĞƐŽůƵƟŽŶĂƐĂŶKƌĚŝŶĂƌLJ ;ZƵƉĞĞƐ ŽŶĞ ůĂĐ ĞŝŐŚƚLJ ƚŚŽƵƐĂŶĚ ƚŚƌĞĞ ŚƵŶĚƌĞĚ ZĞƐŽůƵƟŽŶ͗ ƚǁĞŶƚLJ ĞŝŐŚƚ ŽŶůLJͿ ƉĞƌ ŵŽŶƚŚ͘ dŚĞ ŽĂƌĚ ŵĂLJ “RESOLVED THAT ƉƵƌƐƵĂŶƚ ƚŽ ^ĞĐƟŽŶƐ ϭϵϴ͕ Ϯϲϵ͕ ϯϬϵ ŝŶĐƌĞĂƐĞŽƌĚĞĐƌĞĂƐĞƚŚŝƐĂŵŽƵŶƚĚĞƉĞŶĚŝŶŐƵƉŽŶŚŝƐ ĂŶĚĂůůŽƚŚĞƌĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐĂŶĚ^ĐŚĞĚƵůĞy///ƚŽƚŚĞ ƉĞƌĨŽƌŵĂŶĐĞĂƐƉĞƌŽŵƉĂŶLJ͛ƐWŽůŝĐLJ͘ ŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲƌĞĂĚǁŝƚŚƌƟĐůĞϭϯϵŽĨƚŚĞƌƟĐůĞƐ ;ŝͿ ĞŶĞĮƚƐ͕ ƉĞƌƋƵŝƐŝƚĞƐ͕ ĂůůŽǁĂŶĐĞƐ͕ ƌĞŝŵďƵƌƐĞŵĞŶƚƐ ŽĨƐƐŽĐŝĂƟŽŶŽĨƚŚĞŽŵƉĂŶLJ͕^Śƌŝ^ƵƐŚŝůDĂƌŽŽďĞĂŶĚ ĂŶĚ ĨĂĐŝůŝƟĞƐ ĂƐ ŵĂLJ ďĞ ĚĞƚĞƌŵŝŶĞĚ ďLJ ƚŚĞ ŽĂƌĚ͕ ŝƐ ŚĞƌĞďLJ ĂƉƉŽŝŶƚĞĚ ĂƐ ĞƉƵƚLJ DĂŶĂŐŝŶŐ ŝƌĞĐƚŽƌ ŽĨ ƚŚĞ ĨƌŽŵƟŵĞƚŽƟŵĞ͘ ŽŵƉĂŶLJĨŽƌĮǀĞLJĞĂƌƐĨƌŽŵϭƐƚƉƌŝů͕ϮϬϭϯŽŶƚŚĞĨŽůůŽǁŝŶŐ ƚĞƌŵƐĂŶĚĐŽŶĚŝƟŽŶƐ͗ RESOLVED FURTHER THAT ŶŽƚǁŝƚŚƐƚĂŶĚŝŶŐ ĂŶLJƚŚŝŶŐ ƚŽ ƚŚĞĐŽŶƚƌĂƌLJĐŽŶƚĂŝŶĞĚŚĞƌĞŝŶĂďŽǀĞ͕ǁŚĞƌĞŝŶĂŶLJĮŶĂŶĐŝĂů ;ĂͿ ĂƐŝĐ ƐĂůĂƌLJ ŽĨ ` ϳ͕Ϭϱ͕ϭϮϴͬͲ ;ZƵƉĞĞƐ ƐĞǀĞŶ ůĂĐƐ ĮǀĞ LJĞĂƌĚƵƌŝŶŐƚŚĞĐƵƌƌĞŶĐLJŽĨŚŝƐƚĞŶƵƌĞ͕ƚŚĞŽŵƉĂŶLJŚĂƐŶŽ ƚŚŽƵƐĂŶĚŽŶĞŚƵŶĚƌĞĚƚǁĞŶƚLJĞŝŐŚƚŽŶůLJͿƉĞƌŵŽŶƚŚ͘ ƉƌŽĮƚƐŽƌŝƚƐƉƌŽĮƚƐĂƌĞŝŶĂĚĞƋƵĂƚĞ͕ƚŚĞŽŵƉĂŶLJǁŝůůƉĂLJ ;ďͿ &ůĞdžŝďůĞŽŵƉĞŶƐĂƟŽŶWůĂŶŽĨ`ϵ͕ϳϯ͕ϬϳϳͬͲ;ZƵƉĞĞƐ ƌĞŵƵŶĞƌĂƟŽŶďLJǁĂLJŽĨďĂƐŝĐƐĂůĂƌLJ͕ďĞŶĞĮƚƐ͕ƉĞƌƋƵŝƐŝƚĞƐ͕ ŶŝŶĞůĂĐƐƐĞǀĞŶƚLJƚŚƌĞĞƚŚŽƵƐĂŶĚƐĞǀĞŶƚLJƐĞǀĞŶŽŶůLJͿ ĂůůŽǁĂŶĐĞƐ͕ ƌĞŝŵďƵƌƐĞŵĞŶƚƐ ĂŶĚ ĨĂĐŝůŝƟĞƐ ĂƐ ƐƉĞĐŝĮĞĚ ƉĞƌŵŽŶƚŚ͘ ĂďŽǀĞ͘͟ ;ĐͿ WĞƌĨŽƌŵĂŶĐĞ ďĂƐĞĚ dĂƌŐĞƚ sĂƌŝĂďůĞ WĂLJ ŽĨ ϭϰ͘ dŽĐŽŶƐŝĚĞƌĂŶĚ͕ŝĨƚŚŽƵŐŚƚĮƚ͕ƚŽƉĂƐƐǁŝƚŚŽƌǁŝƚŚŽƵƚ ` ϲϯ͕ϰϲ͕ϭϱϱͬͲ ;ZƵƉĞĞƐ ƐŝdžƚLJ ƚŚƌĞĞ ůĂĐƐ ĨŽƌƚLJ Ɛŝdž ŵŽĚŝĮĐĂƟŽŶ;ƐͿ͕ƚŚĞĨŽůůŽǁŝŶŐƌĞƐŽůƵƟŽŶĂƐĂŶKƌĚŝŶĂƌLJ ƚŚŽƵƐĂŶĚ ŽŶĞ ŚƵŶĚƌĞĚ ĮŌLJ ĮǀĞ ŽŶůLJͿ ƉĞƌ ĂŶŶƵŵ͘ ZĞƐŽůƵƟŽŶ͗ dŚĞ ŽĂƌĚ ŵĂLJ ŝŶĐƌĞĂƐĞ Žƌ ĚĞĐƌĞĂƐĞ ƚŚŝƐ ĂŵŽƵŶƚ “RESOLVED THAT ƉƵƌƐƵĂŶƚ ƚŽ ^ĞĐƟŽŶƐ ϭϵϴ͕ ϯϬϵ ĂŶĚ ĚĞƉĞŶĚŝŶŐƵƉŽŶ ŚŝƐ ƉĞƌĨŽƌŵĂŶĐĞ ĂƐ ƉĞƌ ŽŵƉĂŶLJ͛Ɛ Ăůů ŽƚŚĞƌ ĂƉƉůŝĐĂďůĞ ƉƌŽǀŝƐŝŽŶƐ ĂŶĚ ^ĐŚĞĚƵůĞ y/// ƚŽ ƚŚĞ WŽůŝĐLJ͘ ŽŵƉĂŶŝĞƐ Đƚ͕ ϭϵϱϲ͕ ƚŚĞ ŽŵƉĂŶLJ ŚĞƌĞďLJ ĂƉƉƌŽǀĞƐ ;ĚͿ DĂŶĂŐĞŵĞŶƚ /ŶĐĞŶƟǀĞ ŽĨ ` ϭ͕ϬϬ͕ϬϬ͕ϬϬϬͬͲ ;ZƵƉĞĞƐ ƌĞǀŝƐŝŽŶ ŝŶ ƌĞŵƵŶĞƌĂƟŽŶ ŽĨ ^Śƌŝ ZĂǀŝ hƉƉĂů͕ DĂŶĂŐŝŶŐ ŽŶĞĐƌŽƌĞŽŶůLJͿŽŶƐƵĐĐĞƐƐĨƵůĐŽŵƉůĞƟŽŶŽĨƚŚĞƚĂƌŐĞƚ ŝƌĞĐƚŽƌΘKŽĨƚŚĞŽŵƉĂŶLJĨƌŽŵϭƐƚƉƌŝů͕ϮϬϭϯŝŶƚŚĞ ƐĞƚƵŶĚĞƌ

70 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůKǀĞƌǀŝĞǁ Statutory Reports Financial Statements EŽƟĐĞ

;ĂͿ ĂƐŝĐƐĂůĂƌLJŽĨ`ϭϬ͕ϲϲ͕ϲϲϳͬͲ;ZƵƉĞĞƐƚĞŶůĂĐƐƐŝdžƚLJƐŝdž RESOLVED FURTHER THAT ŶŽƚǁŝƚŚƐƚĂŶĚŝŶŐ ĂŶLJƚŚŝŶŐ ƚŽ ƚŚŽƵƐĂŶĚƐŝdžŚƵŶĚƌĞĚƐŝdžƚLJƐĞǀĞŶŽŶůLJͿƉĞƌŵŽŶƚŚ͘ ƚŚĞĐŽŶƚƌĂƌLJĐŽŶƚĂŝŶĞĚŚĞƌĞŝŶĂďŽǀĞ͕ǁŚĞƌĞŝŶĂŶLJĮŶĂŶĐŝĂů ;ďͿ &ůĞdžŝďůĞŽŵƉĞŶƐĂƟŽŶWůĂŶŽĨ`ϭϰ͕ϳϮ͕ϬϬϬͬͲ;ZƵƉĞĞƐ LJĞĂƌĚƵƌŝŶŐƚŚĞĐƵƌƌĞŶĐLJŽĨŚŝƐƚĞŶƵƌĞ͕ƚŚĞŽŵƉĂŶLJŚĂƐŶŽ ĨŽƵƌƚĞĞŶůĂĐƐƐĞǀĞŶƚLJƚǁŽƚŚŽƵƐĂŶĚŽŶůLJͿƉĞƌŵŽŶƚŚ͘ ƉƌŽĮƚƐŽƌŝƚƐƉƌŽĮƚƐĂƌĞŝŶĂĚĞƋƵĂƚĞ͕ƚŚĞŽŵƉĂŶLJǁŝůůƉĂLJ ƌĞŵƵŶĞƌĂƟŽŶďLJǁĂLJŽĨďĂƐŝĐƐĂůĂƌLJ͕ďĞŶĞĮƚƐ͕ƉĞƌƋƵŝƐŝƚĞƐ͕ ;ĐͿ WƌŽĮƚƐŚĂƌŝŶŐƉĞƌĂŶŶƵŵΛϬ͘ϭйŽĨƚŚĞŶĞƚƉƌŽĮƚƐ ĂůůŽǁĂŶĐĞƐ͕ƌĞŝŵďƵƌƐĞŵĞŶƚƐ͕ǀĂƌŝĂďůĞƉĂLJĂŶĚĨĂĐŝůŝƟĞƐĂƐ ĂŌĞƌ ƚĂdž ;WdͿ ĂƐ ƉĞƌ ƚŚĞ ĐŽŶƐŽůŝĚĂƚĞĚ ĮŶĂŶĐŝĂů ƐƉĞĐŝĮĞĚĂďŽǀĞ͘͟ ƐƚĂƚĞŵĞŶƚƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ĨŽƌ ƚŚĞ ƌĞƐƉĞĐƟǀĞ ĮŶĂŶĐŝĂůLJĞĂƌƐ͘ ϭϲ͘ dŽĐŽŶƐŝĚĞƌĂŶĚ͕ŝĨƚŚŽƵŐŚƚĮƚ͕ƚŽƉĂƐƐǁŝƚŚŽƌǁŝƚŚŽƵƚ ŵŽĚŝĮĐĂƟŽŶ;ƐͿ͕ƚŚĞĨŽůůŽǁŝŶŐƌĞƐŽůƵƟŽŶĂƐĂŶKƌĚŝŶĂƌLJ ;ĚͿ ^ŚĂƌĞƐ ƵŶĚĞƌ ŵƉůŽLJĞĞ ^ƚŽĐŬ WƵƌĐŚĂƐĞ ^ĐŚĞŵĞ ʹ ZĞƐŽůƵƟŽŶ ϮϬϭϯ;:^W>^W^ϮϬϭϯͿǁŽƌƚŚ`ϱϬ͕ϬϬ͕ϬϬϬ;ZƵƉĞĞƐĮŌLJ “RESOLVED THAT ůĂĐƐŽŶůLJͿƉĞƌĂŶŶƵŵ͕ƐƵďũĞĐƚƚŽƌĞƋƵŝƐŝƚĞĂƉƉƌŽǀĂůƐ ƉƵƌƐƵĂŶƚ ƚŽ ^ĞĐƟŽŶƐ ϭϵϴ͕ ϯϬϵ ĂŶĚ ƵŶĚĞƌƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲĂŶĚ^/'ƵŝĚĞůŝŶĞƐͬ Ăůů ŽƚŚĞƌ ĂƉƉůŝĐĂďůĞ ƉƌŽǀŝƐŝŽŶƐ ĂŶĚ ^ĐŚĞĚƵůĞ y/// ƚŽ ƚŚĞ ZĞŐƵůĂƟŽŶƐĞƚĐ͘ ŽŵƉĂŶŝĞƐ Đƚ͕ ϭϵϱϲ͕ ƚŚĞ ŽŵƉĂŶLJ ŚĞƌĞďLJ ĂƉƉƌŽǀĞƐ ƌĞǀŝƐŝŽŶ ŝŶ ƌĞŵƵŶĞƌĂƟŽŶ ŽĨ ^Śƌŝ ŝŶĞƐŚ <ƵŵĂƌ ^ĂƌĂŽŐŝ͕ ;ĞͿ ĞŶĞĮƚƐ͕ ƉĞƌƋƵŝƐŝƚĞƐ͕ ĂůůŽǁĂŶĐĞƐ͕ ƌĞŝŵďƵƌƐĞŵĞŶƚƐ tŚŽůĞƟŵĞŝƌĞĐƚŽƌŽĨƚŚĞŽŵƉĂŶLJĨƌŽŵϭƐƚƉƌŝů͕ϮϬϭϯŝŶ ĂŶĚ ĨĂĐŝůŝƟĞƐ ĂƐ ŵĂLJ ďĞ ĚĞƚĞƌŵŝŶĞĚ ďLJ ƚŚĞ ŽĂƌĚ͕ ƚŚĞĨŽůůŽǁŝŶŐŵĂŶŶĞƌ͗ ĨƌŽŵƟŵĞƚŽƟŵĞ͘ ;ĂͿ ĂƐŝĐ ƐĂůĂƌLJ ŽĨ ` ϯ͕ϱϮ͕ϬϬϬͬͲ ;ZƵƉĞĞƐ ƚŚƌĞĞ ůĂĐƐ ĮŌLJ RESOLVED FURTHER THAT  ŶŽƚǁŝƚŚƐƚĂŶĚŝŶŐ ĂŶLJƚŚŝŶŐ ƚŽ ƚǁŽƚŚŽƵƐĂŶĚŽŶůLJͿƉĞƌŵŽŶƚŚ͘ ƚŚĞĐŽŶƚƌĂƌLJĐŽŶƚĂŝŶĞĚŚĞƌĞŝŶĂďŽǀĞ͕ǁŚĞƌĞŝŶĂŶLJĮŶĂŶĐŝĂů LJĞĂƌĚƵƌŝŶŐƚŚĞĐƵƌƌĞŶĐLJŽĨŚŝƐƚĞŶƵƌĞ͕ƚŚĞŽŵƉĂŶLJŚĂƐŶŽ ;ďͿ &ůĞdžŝďůĞŽŵƉĞŶƐĂƟŽŶWůĂŶŽĨ`ϰ͕ϴϱ͕ϳϲϭͬͲ;ZƵƉĞĞƐ ƉƌŽĮƚƐŽƌŝƚƐƉƌŽĮƚƐĂƌĞŝŶĂĚĞƋƵĂƚĞ͕ƚŚĞŽŵƉĂŶLJǁŝůůƉĂLJ ĨŽƵƌůĂĐƐĞŝŐŚƚLJĮǀĞƚŚŽƵƐĂŶĚƐĞǀĞŶŚƵŶĚƌĞĚƐŝdžƚLJŽŶĞ ƌĞŵƵŶĞƌĂƟŽŶďLJǁĂLJŽĨďĂƐŝĐƐĂůĂƌLJ͕ƐŚĂƌĞŝŶƉƌŽĮƚ͕ƐŚĂƌĞƐ ŽŶůLJͿƉĞƌŵŽŶƚŚ͘ ƵŶĚĞƌ :^W> ^W^ ϮϬϭϯ͕ ďĞŶĞĮƚƐ͕ ƉĞƌƋƵŝƐŝƚĞƐ͕ ĂůůŽǁĂŶĐĞƐ͕ ;ĐͿ WĞƌĨŽƌŵĂŶĐĞ ďĂƐĞĚ dĂƌŐĞƚ sĂƌŝĂďůĞ WĂLJ ŽĨ ƌĞŝŵďƵƌƐĞŵĞŶƚƐĂŶĚĨĂĐŝůŝƟĞƐĂƐƐƉĞĐŝĮĞĚĂďŽǀĞ͘͟ `Ϯϲ͕ϰϬ͕ϬϬϬͬͲ;ZƵƉĞĞƐƚǁĞŶƚLJƐŝdžůĂĐƐĨŽƌƚLJƚŚŽƵƐĂŶĚ ϭϱ͘ dŽĐŽŶƐŝĚĞƌĂŶĚ͕ŝĨƚŚŽƵŐŚƚĮƚ͕ƚŽƉĂƐƐǁŝƚŚŽƌǁŝƚŚŽƵƚ ŽŶůLJͿ͘ dŚĞ ŽĂƌĚ ŵĂLJ ŝŶĐƌĞĂƐĞ Žƌ ĚĞĐƌĞĂƐĞ ƚŚŝƐ ŵŽĚŝĮĐĂƟŽŶ;ƐͿ͕ƚŚĞĨŽůůŽǁŝŶŐƌĞƐŽůƵƟŽŶĂƐĂŶKƌĚŝŶĂƌLJ ĂŵŽƵŶƚ ĚĞƉĞŶĚŝŶŐ ƵƉŽŶ ŚŝƐ ƉĞƌĨŽƌŵĂŶĐĞ ĂƐ ƉĞƌ ZĞƐŽůƵƟŽŶ͗ ŽŵƉĂŶLJ͛ƐWŽůŝĐLJ͘ “RESOLVED THAT  ƉƵƌƐƵĂŶƚ ƚŽ ^ĞĐƟŽŶƐ ϭϵϴ͕ ϯϬϵ ĂŶĚ ;ĚͿ ĞŶĞĮƚƐ͕ ƉĞƌƋƵŝƐŝƚĞƐ͕ ĂůůŽǁĂŶĐĞƐ͕ ƌĞŝŵďƵƌƐĞŵĞŶƚƐ Ăůů ŽƚŚĞƌ ĂƉƉůŝĐĂďůĞ ƉƌŽǀŝƐŝŽŶƐ ĂŶĚ ^ĐŚĞĚƵůĞ y/// ƚŽ ƚŚĞ ĂŶĚ ĨĂĐŝůŝƟĞƐ ĂƐ ŵĂLJ ďĞ ĚĞƚĞƌŵŝŶĞĚ ďLJ ƚŚĞ ŽĂƌĚ͕ ŽŵƉĂŶŝĞƐ Đƚ͕ ϭϵϱϲ͕ ƚŚĞ ŽŵƉĂŶLJ ŚĞƌĞďLJ ĂƉƉƌŽǀĞƐ ĨƌŽŵƟŵĞƚŽƟŵĞ͘ ƌĞǀŝƐŝŽŶ ŝŶ ƌĞŵƵŶĞƌĂƟŽŶ ŽĨ ^Śƌŝ ŶĂŶĚ 'ŽĞů͕ :ŽŝŶƚ DĂŶĂŐŝŶŐŝƌĞĐƚŽƌŽĨƚŚĞŽŵƉĂŶLJĨƌŽŵϭƐƚƉƌŝů͕ϮϬϭϯŝŶ RESOLVED FURTHER THAT ŶŽƚǁŝƚŚƐƚĂŶĚŝŶŐ ĂŶLJƚŚŝŶŐ ƚŽ ƚŚĞĨŽůůŽǁŝŶŐŵĂŶŶĞƌ͗ ƚŚĞĐŽŶƚƌĂƌLJĐŽŶƚĂŝŶĞĚŚĞƌĞŝŶĂďŽǀĞ͕ǁŚĞƌĞŝŶĂŶLJĮŶĂŶĐŝĂů LJĞĂƌĚƵƌŝŶŐƚŚĞĐƵƌƌĞŶĐLJŽĨŚŝƐƚĞŶƵƌĞ͕ƚŚĞŽŵƉĂŶLJŚĂƐŶŽ ;ĂͿ ĂƐŝĐƐĂůĂƌLJŽĨ`ϳ͕ϲϵ͕ϮϯϭͬͲ;ZƵƉĞĞƐƐĞǀĞŶůĂĐƐƐŝdžƚLJ ƉƌŽĮƚƐŽƌŝƚƐƉƌŽĮƚƐĂƌĞŝŶĂĚĞƋƵĂƚĞ͕ƚŚĞŽŵƉĂŶLJǁŝůůƉĂLJ ŶŝŶĞ ƚŚŽƵƐĂŶĚ ƚǁŽ ŚƵŶĚƌĞĚ ƚŚŝƌƚLJ ŽŶĞ ŽŶůLJͿ ƉĞƌ ƌĞŵƵŶĞƌĂƟŽŶďLJǁĂLJŽĨďĂƐŝĐƐĂůĂƌLJ͕ďĞŶĞĮƚƐ͕ƉĞƌƋƵŝƐŝƚĞƐ͕ ŵŽŶƚŚ͘ ĂůůŽǁĂŶĐĞƐ͕ƌĞŝŵďƵƌƐĞŵĞŶƚƐ͕ǀĂƌŝĂďůĞƉĂLJĂŶĚĨĂĐŝůŝƟĞƐĂƐ ;ďͿ &ůĞdžŝďůĞ ŽŵƉĞŶƐĂƟŽŶ WůĂŶ ŽĨ ` ϭϬ͕ϲϭ͕ϱϯϴͬͲ ƉĞƌ ƐƉĞĐŝĮĞĚĂďŽǀĞ͘͟ ŵŽŶƚŚ ;ZƵƉĞĞƐ ƚĞŶ ůĂĐƐ ƐŝdžƚLJ ŽŶĞ ƚŚŽƵƐĂŶĚ ĮǀĞ ŚƵŶĚƌĞĚƚŚŝƌƚLJĞŝŐŚƚŽŶůLJͿƉĞƌŵŽŶƚŚ͘ ;ĐͿ WĞƌĨŽƌŵĂŶĐĞ ďĂƐĞĚ dĂƌŐĞƚ sĂƌŝĂďůĞ WĂLJ ŽĨ WůĂĐĞ͗EĞǁĞůŚŝ LJŽƌĚĞƌŽĨƚŚĞŽĂƌĚ `  ϲϵ͕Ϯϯ͕ϬϳϱͬͲ ;ZƵƉĞĞƐ ƐŝdžƚLJ ŶŝŶĞ ůĂĐƐ ƚǁĞŶƚLJ ƚŚƌĞĞ ĂƚĞĚ͗ϵƚŚƵŐƵƐƚ͕ϮϬϭϯ ƚŚŽƵƐĂŶĚ ƐĞǀĞŶƚLJ ĮǀĞ ŽŶůLJͿ ƉĞƌ ĂŶŶƵŵ͘ dŚĞ ŽĂƌĚ ŵĂLJ ŝŶĐƌĞĂƐĞ Žƌ ĚĞĐƌĞĂƐĞ ƚŚŝƐ ĂŵŽƵŶƚ ĚĞƉĞŶĚŝŶŐ ƵƉŽŶŚŝƐƉĞƌĨŽƌŵĂŶĐĞĂƐƉĞƌŽŵƉĂŶLJ͛ƐWŽůŝĐLJ͘ ZĞŐŝƐƚĞƌĞĚKĸĐĞ͗ T.K. Sadhu K͘W͘:ŝŶĚĂůDĂƌŐ͕ ŽŵƉĂŶLJ^ĞĐƌĞƚĂƌLJ ;ĚͿ ĞŶĞĮƚƐ͕ ƉĞƌƋƵŝƐŝƚĞƐ͕ ĂůůŽǁĂŶĐĞƐ͕ ƌĞŝŵďƵƌƐĞŵĞŶƚƐ ĂŶĚ ĨĂĐŝůŝƟĞƐ ĂƐ ŵĂLJ ďĞ ĚĞƚĞƌŵŝŶĞĚ ďLJ ƚŚĞ ŽĂƌĚ͕ ,ŝƐĂƌʹϭϮϱϬϬϱ ĨƌŽŵƟŵĞƚŽƟŵĞ͘ ,ĂƌLJĂŶĂ

71 Annual Report 2012-13 EKd^͗ DĂŶĂŐŝŶŐŝƌĞĐƚŽƌΘŽƵŶƚƌLJDĂŶĂŐĞƌŽĨsŽůǀŽ/ŶĚŝĂ͘ŵŽŶŐƐƚ ŵĂŶLJŚŽŶŽƵƌƐŚĞŚĂƐƌĞĐĞŝǀĞĚ͕^ŚƌŝZĂǀŝhƉƉĂůǁĂƐĂǁĂƌĚĞĚƚŚĞ 1. A MEMBER ENTITLED TO ATTEND AND VOTE IS ENTITLED ZŽLJĂůKƌĚĞƌŽĨƚŚĞWŽůĂƌ^ƚĂƌďLJƚŚĞ<ŝŶŐŽĨ^ǁĞĚĞŶĂŶĚŶĂŵĞĚ TO APPOINT A PROXY TO ATTEND AND VOTE INSTEAD OF Ă<ŶŝŐŚƚŽĨƚŚŝƐKƌĚĞƌŝŶƌĞĐŽŐŶŝƟŽŶŽĨŚŝƐŝŶǀĂůƵĂďůĞƐĞƌǀŝĐĞƐƚŽ HIMSELF AND THE PROXY NEED NOT BE A MEMBER. ^ǁĞĚĞŶ͘,ĞǁĂƐĂůƐŽďĞƐƚŽǁĞĚƚŚĞDĂƌŬĞƟŶŐǁĂƌĚϮϬϬϱďLJƚŚĞ Ϯ͘ ďůĂŶŬƉƌŽdžLJĨŽƌŵŝƐƐĞŶƚŚĞƌĞǁŝƚŚ͘ /ŶƐƟƚƵƚĞ ŽĨ DĂƌŬĞƟŶŐ DĂŶĂŐĞŵĞŶƚ͕ /ŶĚŝĂ ĂŶĚ ŶĂŵĞĚ ĂŵŽŶŐ ͚/ŶĚŝĂ͛ƐĞƐƚŽĨƚŚĞĞƐƚ͛ďLJƚŚĞŵĂŐĂnjŝŶĞ͚^ŵĂƌƚDĂŶĂŐĞƌ͛͘,Ğ ϯ͘ dŚĞ ŝŶƐƚƌƵŵĞŶƚ ĂƉƉŽŝŶƟŶŐ ƉƌŽdžLJ ƐŚŽƵůĚ ďĞ ĚĞƉŽƐŝƚĞĚ Ăƚ ŚĂƐĂůƐŽďĞĞŶŚŽŶŽƵƌĞĚĂƐĂŝƐƟŶŐƵŝƐŚĞĚůƵŵŶƵƐďLJ//d͕ĞůŚŝ͘ ƌĞŐŝƐƚĞƌĞĚ ŽĸĐĞ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ŶŽƚ ůĞƐƐ ƚŚĂŶ ϰϴ ŚŽƵƌƐ ,ĞŝƐĂŵĞŵďĞƌŽĨtŽƌŬŝŶŐŽŵŵŝƩĞĞŽĨWůĂŶŶŝŶŐŽŵŵŝƐƐŝŽŶ ďĞĨŽƌĞƚŚĞĐŽŵŵĞŶĐĞŵĞŶƚŽĨƚŚĞŵĞĞƟŶŐ͘ ĨŽƌdĞĐŚŶŽůŽŐLJĂŶĚ/ŶĚƵƐƚƌLJĨŽƌϭϮƚŚƉůĂŶ͘dŚĞEŽŵŝŶĂƟŽŶĂŶĚ ϰ͘ ŶdžƉůĂŶĂƚŽƌLJ^ƚĂƚĞŵĞŶƚƉƵƌƐƵĂŶƚƚŽ^ĞĐƟŽŶϭϳϯ;ϮͿŽĨ ZĞŵƵŶĞƌĂƟŽŶ ŽŵŵŝƩĞĞ ŽĨ ƚŚĞ ŽĂƌĚ ŚĂĚ ƌĞĐŽŵŵĞŶĚĞĚ ŚŝƐ ƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲ͕ŝŶƌĞƐƉĞĐƚŽĨŝƚĞŵƐϳƚŽϭϲŽĨƚŚĞ ĂƉƉŽŝŶƚŵĞŶƚĂŶĚƚĞƌŵƐŽĨƌĞŵƵŶĞƌĂƟŽŶŝŶŝƚƐŵĞĞƟŶŐŚĞůĚŽŶ EŽƟĐĞŝƐĂŶŶĞdžĞĚŚĞƌĞƚŽ͘ ϮϵƚŚ ^ĞƉƚĞŵďĞƌ͕ ϮϬϭϮ͘ dŚĞ ŽĂƌĚ͕ ƚŚƌŽƵŐŚ ƌĞƐŽůƵƟŽŶ ƉĂƐƐĞĚ ďLJĐŝƌĐƵůĂƟŽŶ͕ŚĂƐĂƉƉŽŝŶƚĞĚŚŝŵĂƐĂŶĚĚŝƟŽŶĂůŝƌĞĐƚŽƌĂŶĚ͕ ϱ͘ ůů ĚŽĐƵŵĞŶƚƐ ƌĞĨĞƌƌĞĚ ƚŽ ŝŶ ƚŚĞ ĂĐĐŽŵƉĂŶLJŝŶŐ EŽƟĐĞ ƐƵďũĞĐƚƚŽLJŽƵƌĂƉƉƌŽǀĂů͕ĂƐDĂŶĂŐŝŶŐŝƌĞĐƚŽƌΘKǁŝƚŚĞīĞĐƚ ĂŶĚdžƉůĂŶĂƚŽƌLJ^ƚĂƚĞŵĞŶƚĂƌĞŽƉĞŶƚŽŝŶƐƉĞĐƟŽŶĂƚƚŚĞ ĨƌŽŵϭƐƚKĐƚŽďĞƌ͕ϮϬϭϮŽŶƚĞƌŵƐĂŶĚĐŽŶĚŝƟŽŶƐĂƐŵĞŶƟŽŶĞĚŝŶ ZĞŐŝƐƚĞƌĞĚ KĸĐĞ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ĚƵƌŝŶŐ ŽĸĐĞ ŚŽƵƌƐ ŽŶ ƌĞƐŽůƵƟŽŶEŽ͘ϭϬ͘ ĂůůǁŽƌŬŝŶŐĚĂLJƐƵƉƚŽƚŚĞĚĂƚĞŽĨŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐ ďĞƚǁĞĞŶϭϭ͗ϬϬDĂŶĚϭ͗ϬϬWD͘ ƐƉĞƌ^ĞĐƟŽŶ/ŽĨWĂƌƚͲ//ŽĨ^ĐŚĞĚƵůĞy///ƚŽƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ ϭϵϱϲ͕ŝĨƚŚĞŽŵƉĂŶLJ ŚĂƐĂĚĞƋƵĂƚĞ ƉƌŽĮƚƐ͕ƚŚĞŽĂƌĚŵĂLJ Įdž EXPLANATORY STATEMENT PURSUANT TO SECTION ƌĞŵƵŶĞƌĂƟŽŶǁŝƚŚŝŶƚŚĞĐĞŝůŝŶŐĂƐƉƌŽǀŝĚĞĚŝŶ^ĞĐƟŽŶϭϵϴĂŶĚ ϭϳϯΈϮΉK&d,KDWE/^d͕ϭϵϱϲ ϯϬϵŽĨƚŚĂƚĐƚǁŚŝĐŚŝƐϭϬйŽĨƚŚĞŶĞƚƉƌŽĮƚƐ͘ƐƉĞƌĂƵĚŝƚĞĚ ZĞƐŽůƵƟŽŶEŽϳ͕ϴΘϵ͗ ĂĐĐŽƵŶƚƐĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϮͲϭϯ͕ƚŚĞŽŵƉĂŶLJŚĂƐĞĂƌŶĞĚ ŶĞƚ ƉƌŽĮƚ ŽĨ ` ϭ͕ϱϵϮ͘ϱϱ ĐƌŽƌĞƐ͕ ǁŚŝĐŚ ŝƐ ĐŽŶƐŝĚĞƌĞĚ ƐƵĸĐŝĞŶƚ ^Śƌŝ ZĂǀŝ hƉƉĂů ǁĂƐ ĂƉƉŽŝŶƚĞĚ ĂƐ ĂŶ ĚĚŝƟŽŶĂů ŝƌĞĐƚŽƌ ǁŝƚŚ ĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨƉĂLJŵĞŶƚŽĨƌĞŵƵŶĞƌĂƟŽŶƚŽƚŚĞŵĂŶĂŐĞƌŝĂů ĞīĞĐƚĨƌŽŵϭƐƚKĐƚŽďĞƌ͕ϮϬϭϮďLJƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐƚŚƌŽƵŐŚ ƉĞƌƐŽŶŶĞůŽĨƚŚĞŽŵƉĂŶLJŝŶĐůƵĚŝŶŐŚŝŵ͘ ƌĞƐŽůƵƟŽŶƉĂƐƐĞĚďLJĐŝƌĐƵůĂƟŽŶŽŶϮϵƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϮ͘^Śƌŝ ^ƵĚĞƌƐŚĂŶ <ƵŵĂƌ 'ĂƌŐ ĂŶĚ ^Śƌŝ ŝŶĞƐŚ <ƵŵĂƌ ^ĂƌĂŽŐŝ ǁĞƌĞ dŚĞ ƚĞƌŵƐ ĂŶĚ ĐŽŶĚŝƟŽŶƐ ŝŶĐůƵĚŝŶŐ ĚĞƚĂŝůƐ ŽĨ ƌĞŵƵŶĞƌĂƟŽŶ ĂƉƉŽŝŶƚĞĚ ĂƐ ĚĚŝƟŽŶĂů ŝƌĞĐƚŽƌƐ ďLJ ƚŚĞ ŽĂƌĚ ŽĨ ŝƌĞĐƚŽƌƐ ŝŶ ŐŝǀĞŶŝŶƌĞƐŽůƵƟŽŶEŽ͘ϭϬŵĂLJďĞƚƌĞĂƚĞĚĂƐĂďƐƚƌĂĐƚŽĨƚĞƌŵƐ ƚŚĞŝƌŵĞĞƟŶŐŚĞůĚŽŶϵƚŚEŽǀĞŵďĞƌ͕ϮϬϭϮ͘ƐƉĞƌƉƌŽǀŝƐŝŽŶƐŽĨ ŽĨ ĂƉƉŽŝŶƚŵĞŶƚ ŽĨ ^Śƌŝ ZĂǀŝ hƉƉĂů ƵŶĚĞƌ ^ĞĐƟŽŶ ϯϬϮ ŽĨ ƚŚĞ ^ĞĐƟŽŶϮϲϬŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲ͕ƚŚĞLJŚŽůĚƚŚĞŽĸĐĞŽĨ ŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲ͘ ĚĚŝƟŽŶĂůŝƌĞĐƚŽƌƵƉƚŽƚŚĞĞŶƐƵŝŶŐŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐ dŚĞ ŽĂƌĚ ƌĞĐŽŵŵĞŶĚƐ ƚŚŝƐ ƌĞƐŽůƵƟŽŶ ĨŽƌ LJŽƵƌ ĂƉƉƌŽǀĂů͘ ^Śƌŝ ŽĨƚŚĞŽŵƉĂŶLJ͘WƵƌƐƵĂŶƚƚŽ^ĞĐƟŽŶϮϱϳŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ ZĂǀŝhƉƉĂůŝƐŝŶƚĞƌĞƐƚĞĚŝŶƚŚŝƐƌĞƐŽůƵƟŽŶ͘ ϭϵϱϲ͕ƚŚĞŽŵƉĂŶLJŚĂƐƌĞĐĞŝǀĞĚŶŽƟĐĞƐĂůŽŶŐǁŝƚŚƚŚĞĚĞƉŽƐŝƚ ŽĨ`ϱϬϬͬͲĨƌŽŵƚŚĞŵŽīĞƌŝŶŐƚŚĞŝƌĐĂŶĚŝĚĂƚƵƌĞĨŽƌĂƉƉŽŝŶƚŵĞŶƚ ZĞƐŽůƵƟŽŶEŽϭϭ͗ ĂƐŝƌĞĐƚŽƌŽĨƚŚĞŽŵƉĂŶLJ͕ůŝĂďůĞƚŽƌĞƟƌĞďLJƌŽƚĂƟŽŶ͘ ^ŚƌŝZĂǀŝhƉƉĂůŝƐ͘dĞĐŚ;DĞĐŚĂŶŝĐĂůͿĨƌŽŵ//d͕ĞůŚŝ͕DĨƌŽŵ //D͕ ŚŵĞĚĂďĂĚ ĂŶĚ ŚĂƐ ĂůƐŽ ĚŽŶĞ ĚǀĂŶĐĞĚ DĂŶĂŐĞŵĞŶƚ dŚĞŽĂƌĚƌĞĐŽŵŵĞŶĚƐƚŚĞƐĞƌĞƐŽůƵƟŽŶƐĨŽƌLJŽƵƌĂƉƉƌŽǀĂů͘^Śƌŝ WƌŽŐƌĂŵ ĨƌŽŵ tŚĂƌƚŽŶ ƵƐŝŶĞƐƐ ^ĐŚŽŽů͕ h^͘ ,Ğ ďƌŝŶŐƐ ǁŝƚŚ ZĂǀŝhƉƉĂů͕^Śƌŝ^ƵĚĞƌƐŚĂŶ<ƵŵĂƌ'ĂƌŐĂŶĚ^ŚƌŝŝŶĞƐŚ<ƵŵĂƌ ŚŝŵŵŽƌĞƚŚĂŶϯϳLJĞĂƌƐŽĨĞdžƉĞƌŝĞŶĐĞŽĨǁŽƌŬŝŶŐŝŶĞŶŐŝŶĞĞƌŝŶŐ ^ĂƌĂŽŐŝ ĂƌĞ ŝŶƚĞƌĞƐƚĞĚ ŝŶ ƚŚĞƐĞ ƌĞƐŽůƵƟŽŶƐ ƵƉƚŽ ƚŚĞ ĞdžƚĞŶƚ ŽĨ ĂŶĚ ŝŶĨƌĂƐƚƌƵĐƚƵƌĂů ƐĞŐŵĞŶƚƐ ŝŶ /ŶĚŝĂ ĂŶĚ ĂďƌŽĂĚ͘ ŽŶƐŝĚĞƌŝŶŐ ƚŚĞŝƌĂƉƉŽŝŶƚŵĞŶƚ͘ ŚŝƐĞdžƉĞƌŝĞŶĐĞĂŶĚŬŶŽǁůĞĚŐĞ͕ŚĞǁĂƐĂƉƉŽŝŶƚĞĚĂƐDĂŶĂŐŝŶŐ ZĞƐŽůƵƟŽŶEŽϭϬ͗ ŝƌĞĐƚŽƌ Θ K ŽĨ ƚŚĞ ŽŵƉĂŶLJ ĨƌŽŵ ϭƐƚ KĐƚŽďĞƌ͕ ϮϬϭϮ͘ ^ŚƌŝZĂǀŝhƉƉĂůŝƐ͘dĞĐŚ;DĞĐŚĂŶŝĐĂůͿĨƌŽŵ//d͕ĞůŚŝ͕DĨƌŽŵ ^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂůŚĂĚƌĞƐŝŐŶĞĚĨƌŽŵƚŚĞƉŽƐŝƟŽŶŽĨDĂŶĂŐŝŶŐ //D͕ ŚŵĞĚĂďĂĚ ĂŶĚ ŚĂƐ ĂůƐŽ ĚŽŶĞ ĚǀĂŶĐĞĚ DĂŶĂŐĞŵĞŶƚ ŝƌĞĐƚŽƌƐŚŝƉŽĨƚŚĞŽŵƉĂŶLJǁŝƚŚĞīĞĐƚĨƌŽŵϭƐƚKĐƚŽďĞƌ͕ϮϬϭϮ͘ WƌŽŐƌĂŵ ĨƌŽŵ tŚĂƌƚŽŶ ƵƐŝŶĞƐƐ ^ĐŚŽŽů͕ h^͘ ,Ğ ďƌŝŶŐƐ ǁŝƚŚ ŽŶƐŝĚĞƌŝŶŐŚŝƐĐŽŶƚƌŝďƵƟŽŶŝŶŐƵŝĚŝŶŐĂŶĚŵĂŶĂŐŝŶŐƚŚĞĂīĂŝƌƐ ŚŝŵŵŽƌĞƚŚĂŶϯϳLJĞĂƌƐŽĨĞdžƉĞƌŝĞŶĐĞŽĨǁŽƌŬŝŶŐŝŶĞŶŐŝŶĞĞƌŝŶŐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ĨŽƌ ůĂƐƚ ϭϰ LJĞĂƌƐ ĨƌŽŵ ŽŶĞ ůĞǀĞů ŽĨ ŐƌŽǁƚŚ ƚŽ ĂŶĚ ŝŶĨƌĂƐƚƌƵĐƚƵƌĂů ƐĞŐŵĞŶƚƐ ŝŶ /ŶĚŝĂ ĂŶĚ ĂďƌŽĂĚ͘ ,Ğ ŚĂƐ ĂŶŽƚŚĞƌŚŝŐŚĞƌůĞǀĞů͕ŚŝƐĞdžƉĞƌŝĞŶĐĞĂŶĚŬŶŽǁůĞĚŐĞŝŶƚŚĞĮĞůĚŽĨ ǁŽƌŬĞĚ Ăƚ ǀĂƌŝŽƵƐ ƐĞŶŝŽƌ ŵĂŶĂŐĞƌŝĂů ƉŽƐŝƟŽŶƐ ŝŶ >ĂƌƐĞŶ Θ ƐƚĞĞůĂŶĚƉŽǁĞƌĂŶĚŬĞĞƉŝŶŐŝŶǀŝĞǁƚŚĂƚŚŝƐĐŽŶƟŶƵĞĚŐƵŝĚĂŶĐĞ dŽƵďƌŽ>ŝŵŝƚĞĚ͕/ŶĚŝĂĂŶĚsŽůǀŽ/ŶĚŝĂ͕ĂŵŽŶŐƚŚĞŵďĞŝŶŐ͕ ǁŽƵůĚďĞŽĨŝŵŵĞŶƐĞďĞŶĞĮƚƚŽƚŚĞŽŵƉĂŶLJŝŶĞdžƉĂŶƐŝŽŶĂŶĚ tŚŽůĞƟŵĞŝƌĞĐƚŽƌĂŶĚWƌĞƐŝĚĞŶƚΘKʹWŽǁĞƌĂƚ>ĂƌƐĞŶΘ ĚŝǀĞƌƐŝĮĐĂƟŽŶ͕ ƚŚĞ ŽĂƌĚ ŽĨ ŝƌĞĐƚŽƌƐ ŚĂĚ͕ ƚŚƌŽƵŐŚ ƌĞƐŽůƵƟŽŶ dŽƵďƌŽ 'ƌŽƵƉ͕ WƌĞƐŝĚĞŶƚͲ 'ůŽďĂů DĂƌŬĞƚƐ Θ dĞĐŚŶŽůŽŐLJ ǁŝƚŚ ƉĂƐƐĞĚ ďLJ ĐŝƌĐƵůĂƟŽŶ ĂŶĚ ƐƵďũĞĐƚ ƚŽ LJŽƵƌ ĂƉƉƌŽǀĂů͕ ĂƉƉŽŝŶƚĞĚ 'ƌŽƵƉĂŶĚDĞŵďĞƌŽĨ'ƌŽƵƉdžĞĐƵƟǀĞŽŵŵŝƩĞĞŽĨ ^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂůĂƐtŚŽůĞƟŵĞŝƌĞĐƚŽƌĨƌŽŵϭƐƚKĐƚŽďĞƌ͕ϮϬϭϮ͘ 'ƌŽƵƉ͕ƵƌŝĐŚ͕^ǁŝƚnjĞƌůĂŶĚĂŶĚŚĂŝƌŵĂŶŽĨ/ŶĚŝĂ͕ĨŽƵŶĚŝŶŐ dŚĞEŽŵŝŶĂƟŽŶĂŶĚZĞŵƵŶĞƌĂƟŽŶŽŵŵŝƩĞĞŽĨƚŚĞŽĂƌĚŚĂĚ

72 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůKǀĞƌǀŝĞǁ Statutory Reports Financial Statements EŽƟĐĞ

ƌĞĐŽŵŵĞŶĚĞĚŚŝƐĂƉƉŽŝŶƚŵĞŶƚĂŶĚƚĞƌŵƐŽĨƌĞŵƵŶĞƌĂƟŽŶŝŶŝƚƐ ĂŶĚ^ƚĞĞůĂŶĚƚŚĞŵĞŵďĞƌŽĨĞdžƉĞƌƚŽŵŵŝƩĞĞŽŶĂŶŬŝŶŐŝŶ ŵĞĞƟŶŐŚĞůĚŽŶϮϵƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϮ͘ ƚŚĞ&ĞĚĞƌĂƟŽŶŽĨ/ŶĚŝĂŶŚĂŵďĞƌƐŽĨŽŵŵĞƌĐĞĂŶĚ/ŶĚƵƐƚƌLJ͕ ŵĞŵďĞƌŽĨ'ŽǀĞƌŶŝŶŐŽŵŵŝƩĞĞŽĨ^ƉŽŶŐĞ/ƌŽŶDĂŶƵĨĂĐƚƵƌĞƌƐ ^Śƌŝ EĂǀĞĞŶ :ŝŶĚĂů͕ ŚŽůĚƐ Ă ŵĂƐƚĞƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ďƵƐŝŶĞƐƐ ƐƐŽĐŝĂƟŽŶ;^/DͿ͘ ŵĂŶĂŐĞŵĞŶƚĨƌŽŵƚŚĞhŶŝǀĞƌƐŝƚLJŽĨdĞdžĂƐĂƚĂůůĂƐ͕h^͘,ĞǁĂƐ ůŝƐƚĞĚĂŵŽŶŐϮϱ/ŶĚŝĂŶƐǁŚŽǁĞƌĞƉĂƌƚŽĨƚŚĞĂŶŶƵĂůůŝƐƚŽĨϮϱϬ dŚĞ EŽŵŝŶĂƟŽŶ ĂŶĚ ZĞŵƵŶĞƌĂƟŽŶ ŽŵŵŝƩĞĞ ŽĨ ƚŚĞ ŽĂƌĚ 'ůŽďĂůzŽƵŶŐ>ĞĂĚĞƌƐŝŶϮϬϬϳƉƌĞƉĂƌĞĚďLJƚŚĞtŽƌůĚĐŽŶŽŵŝĐ ŚĂĚƌĞĐŽŵŵĞŶĚĞĚŚŝƐĂƉƉŽŝŶƚŵĞŶƚŝŶŝƚƐŵĞĞƟŶŐŚĞůĚŽŶϮϲƚŚ &ŽƌƵŵ͘,ĞŚĂƐďĞĞŶƌĂŶŬĞĚĂƐ/ŶĚŝĂ͛ƐĞƐƚKďLJƚŚĞdͲ/E^Ͳ DĂƌĐŚ͕ϮϬϭϯĂŶĚƚĞƌŵƐŽĨƌĞŵƵŶĞƌĂƟŽŶŝŶŝƚƐŵĞĞƟŶŐŚĞůĚŽŶ ,Z^ƚƵĚLJŽĨƚŚĞƚŽƉǀĂůƵĞĐƌĞĂƚŽƌƐĨŽƌƚŚĞƉĞƌŝŽĚϭϵϵϱƚŽϮϬϭϭ ϮϰƚŚƉƌŝů͕ϮϬϭϯ͘dŚĞŽĂƌĚŚĂĚ͕ƐƵďũĞĐƚƚŽLJŽƵƌĂƉƉƌŽǀĂů͕ŝŶŝƚƐ ďLJ ƚŚĞ ƵƐŝŶĞƐƐ dŽĚĂLJ͘ ,Ğ ŚĂƐ ĂůƐŽ ďĞĞŶ ƌĂŶŬĞĚ ĂŵŽŶŐ ƚŚĞ ŵĞĞƟŶŐ ŚĞůĚ ŽŶ ϮϲƚŚ DĂƌĐŚ͕ ϮϬϭϯ͕ ĂƉƉŽŝŶƚĞĚ Śŝŵ ĂƐ ĞƉƵƚLJ ƚŽƉƚĞŶ/ŶĚŝĂ/ŶĐ͛ƐDŽƐƚWŽǁĞƌĨƵůK͛^ϮϬϭϭůŝƐƚďLJĐŽŶŽŵŝĐ DĂŶĂŐŝŶŐŝƌĞĐƚŽƌǁŝƚŚĞīĞĐƚĨƌŽŵϭƐƚƉƌŝů͕ϮϬϭϯ͘ dŝŵĞƐͲŽƌƉŽƌĂƚĞŽƐƐŝĞƌ͘,ĞŚĂƐďĞĞŶĐŽŶĨĞƌƌĞĚǁŝƚŚƚŚĞƌŶƐƚ ƐƉĞƌ^ĞĐƟŽŶ/ŽĨWĂƌƚͲ//ŽĨ^ĐŚĞĚƵůĞy///ƚŽƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ ĂŶĚzŽƵŶŐŶƚĞƌƉƌĞŶĞƵƌŽĨƚŚĞLJĞĂƌĂǁĂƌĚϮϬϭϬŝŶƚŚĞĮĞůĚŽĨ ϭϵϱϲ͕ŝĨƚŚĞŽŵƉĂŶLJ ŚĂƐĂĚĞƋƵĂƚĞ ƉƌŽĮƚƐ͕ƚŚĞŽĂƌĚŵĂLJ Įdž ŶĞƌŐLJΘ/ŶĨƌĂƐƚƌƵĐƚƵƌĞ͘,ĞǁĂƐƌĞͲĞůĞĐƚĞĚƚŽ/ŶĚŝĂŶWĂƌůŝĂŵĞŶƚ ƌĞŵƵŶĞƌĂƟŽŶǁŝƚŚŝŶƚŚĞĐĞŝůŝŶŐĂƐƉƌŽǀŝĚĞĚŝŶ^ĞĐƟŽŶϭϵϴĂŶĚ ŝŶϮϬϬϵŝŶƚŚĞϭϱƚŚ>ŽŬ^ĂďŚĂĞůĞĐƟŽŶƐ͘,ĞŝƐĂŵĞŵďĞƌŽĨWƵďůŝĐ ϯϬϵŽĨƚŚĂƚĐƚǁŚŝĐŚŝƐϭϬйŽĨƚŚĞŶĞƚƉƌŽĮƚƐ͘ƐƉĞƌĂƵĚŝƚĞĚ ĐĐŽƵŶƚƐŽŵŵŝƩĞĞĂŶĚŽƚŚĞƌWĂƌůŝĂŵĞŶƚĂƌLJŽŵŵŝƩĞĞƐ͘ ĂĐĐŽƵŶƚƐĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϮͲϭϯ͕ƚŚĞŽŵƉĂŶLJŚĂƐĞĂƌŶĞĚ ƐƉĞƌ^ĞĐƟŽŶ/ŽĨWĂƌƚͲ//ŽĨ^ĐŚĞĚƵůĞy///ƚŽƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ ŶĞƚ ƉƌŽĮƚ ŽĨ ` ϭ͕ϱϵϮ͘ϱϱ ĐƌŽƌĞƐ͕ ǁŚŝĐŚ ŝƐ ĐŽŶƐŝĚĞƌĞĚ ƐƵĸĐŝĞŶƚ ϭϵϱϲ͕ŝĨƚŚĞŽŵƉĂŶLJ ŚĂƐĂĚĞƋƵĂƚĞ ƉƌŽĮƚƐ͕ƚŚĞŽĂƌĚŵĂLJ Įdž ĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨƉĂLJŵĞŶƚŽĨƌĞŵƵŶĞƌĂƟŽŶƚŽƚŚĞŵĂŶĂŐĞƌŝĂů ƌĞŵƵŶĞƌĂƟŽŶǁŝƚŚŝŶƚŚĞĐĞŝůŝŶŐĂƐƉƌŽǀŝĚĞĚŝŶ^ĞĐƟŽŶϭϵϴĂŶĚ ƉĞƌƐŽŶŶĞůŽĨƚŚĞŽŵƉĂŶLJŝŶĐůƵĚŝŶŐŚŝŵ͘ ϯϬϵŽĨƚŚĂƚĐƚǁŚŝĐŚŝƐϭϬйŽĨƚŚĞŶĞƚƉƌŽĮƚƐ͘ƐƉĞƌĂƵĚŝƚĞĚ dŚĞ ƚĞƌŵƐ ĂŶĚ ĐŽŶĚŝƟŽŶƐ ŝŶĐůƵĚŝŶŐ ĚĞƚĂŝůƐ ŽĨ ƌĞŵƵŶĞƌĂƟŽŶ ĂĐĐŽƵŶƚƐĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϮͲϭϯ͕ƚŚĞŽŵƉĂŶLJŚĂƐĞĂƌŶĞĚ ŐŝǀĞŶŝŶƌĞƐŽůƵƟŽŶEŽ͘ϭϮŵĂLJďĞƚƌĞĂƚĞĚĂƐĂďƐƚƌĂĐƚŽĨƚĞƌŵƐ ŶĞƚ ƉƌŽĮƚ ŽĨ  ` ϭ͕ϱϵϮ͘ϱϱ ĐƌŽƌĞƐ͕ ǁŚŝĐŚ ŝƐ ĐŽŶƐŝĚĞƌĞĚ ƐƵĸĐŝĞŶƚ ŽĨĂƉƉŽŝŶƚŵĞŶƚŽĨ^Śƌŝ^ƵƐŚŝůDĂƌŽŽƵŶĚĞƌ^ĞĐƟŽŶϯϬϮŽĨƚŚĞ ĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨƉĂLJŵĞŶƚŽĨƌĞŵƵŶĞƌĂƟŽŶƚŽƚŚĞŵĂŶĂŐĞƌŝĂů ŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲ͘ ƉĞƌƐŽŶŶĞůŽĨƚŚĞŽŵƉĂŶLJŝŶĐůƵĚŝŶŐŚŝŵ͘ dŚĞ ŽĂƌĚ ƌĞĐŽŵŵĞŶĚƐ ƚŚŝƐ ƌĞƐŽůƵƟŽŶ ĨŽƌ LJŽƵƌ ĂƉƉƌŽǀĂů͘ ^Śƌŝ dŚĞ ƚĞƌŵƐ ĂŶĚ ĐŽŶĚŝƟŽŶƐ ŝŶĐůƵĚŝŶŐ ĚĞƚĂŝůƐ ŽĨ ƌĞŵƵŶĞƌĂƟŽŶ ^ƵƐŚŝůDĂƌŽŽŝƐŝŶƚĞƌĞƐƚĞĚŝŶƚŚŝƐƌĞƐŽůƵƟŽŶ͘ ŐŝǀĞŶŝŶƌĞƐŽůƵƟŽŶEŽ͘ϭϭŵĂLJďĞƚƌĞĂƚĞĚĂƐĂďƐƚƌĂĐƚŽĨƚĞƌŵƐ ŽĨĂƉƉŽŝŶƚŵĞŶƚŽĨ^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂůƵŶĚĞƌ^ĞĐƟŽŶϯϬϮŽĨƚŚĞ ZĞƐŽůƵƟŽŶEŽϭϯ͗ ŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲ͘ ^ŚƌŝŝŶĞƐŚ<ƵŵĂƌ^ĂƌĂŽŐŝŝƐ͘͘;DĞĐŚĂŶŝĐĂůͿĨƌŽŵ'ŽǀĞƌŶŵĞŶƚ ŶŐŝŶĞĞƌŝŶŐŽůůĞŐĞ͕:ĂďĂůƉƵƌĂŶĚŚĂƐĞdžƉĞƌŝĞŶĐĞŽĨŵŽƌĞƚŚĂŶ dŚĞ ŽĂƌĚ ƌĞĐŽŵŵĞŶĚƐ ƚŚŝƐ ƌĞƐŽůƵƟŽŶ ĨŽƌ LJŽƵƌ ĂƉƉƌŽǀĂů͘ ϯϭLJĞĂƌƐŝŶƚŚĞĮĞůĚŽĨƐƚĞĞůĂŶĚƉŽǁĞƌ͘,ĞŚĂƐďĞĞŶǁŽƌŬŝŶŐ ^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂůŝƐŝŶƚĞƌĞƐƚĞĚŝŶƚŚŝƐƌĞƐŽůƵƟŽŶ͘ ǁŝƚŚ ƚŚĞ ŽŵƉĂŶLJ ƐŝŶĐĞ ϭϵϴϴ ŽŶ ǀĂƌŝŽƵƐ ƐĞŶŝŽƌ ƉŽƐŝƟŽŶƐ ĂŶĚ ZĞƐŽůƵƟŽŶEŽϭϮ͗ ŝƐ ƉƌĞƐĞŶƚůLJ ŚĞĂĚŝŶŐ ƚŚĞ ŝŶƚĞŐƌĂƚĞĚ ƐƚĞĞů ƉƌŽũĞĐƚ ďĞŝŶŐ ƐĞƚ ƵƉ ^Śƌŝ ^ƵƐŚŝů DĂƌŽŽ͕ ŚŽůĚƐ ďĂĐŚĞůŽƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ŽŵŵĞƌĐĞ ĨƌŽŵ ĂƚŶŐƵů͕KĚŝƐŚĂ͘,ĞǁĂƐĞĂƌůŝĞƌdžĞĐƵƟǀĞWƌĞƐŝĚĞŶƚĂŶĚ,ĞĂĚ͕ ƚŚĞhŶŝǀĞƌƐŝƚLJŽĨZĂũĂƐƚŚĂŶĂŶĚŝƐĂŚĂƌƚĞƌĞĚĐĐŽƵŶƚĂŶƚ͘,Ğ ^ŚĂĚĞĞĚ/ƌŽŶΘ^ƚĞĞů>>ŝŶKŵĂŶ͘,ĞǁĂƐŐŝǀĞŶƚŚĞĐŚĂƌŐĞŽĨƚŚĞ ŚĂƐŽǀĞƌϮϴLJĞĂƌƐŽĨĞdžƉĞƌŝĞŶĐĞŝŶƚŚĞĮĞůĚƐŽĨĮŶĂŶĐĞ͕ĂĐĐŽƵŶƚƐ KŵĂŶŽƉĞƌĂƟŽŶƐŝŵŵĞĚŝĂƚĞůLJĂŌĞƌƚŚĞĂĐƋƵŝƐŝƟŽŶŽĨ^ŚĂĚĞĞĚ ĂŶĚĐŽƌƉŽƌĂƚĞĂīĂŝƌƐ͘ĞĨŽƌĞũŽŝŶŝŶŐƚŚĞŽŵƉĂŶLJ͕ŚĞƐĞƌǀĞĚŝŶ /ƌŽŶĂŶĚ^ƚĞĞů>>ŝŶ:ƵůLJϮϬϭϬ͘hŶĚĞƌŚŝƐĂďůĞůĞĂĚĞƌƐŚŝƉ͕ƚŚĞ ,ŝŶĚƵƐƚĂŶ>ĞǀĞƌ>ŝŵŝƚĞĚ͕sŽůƚĂƐ>ŝŵŝƚĞĚ͕ŚĂŵďĂů&ĞƌƟůŝƐĞƌƐĂŶĚ ƉůĂŶƚƐƚĂƌƚĞĚƉƌŽĚƵĐƟŽŶĂŚĞĂĚŽĨƐĐŚĞĚƵůĞǁŝƚŚƚŚĞƉƌŽĚƵĐƟŽŶ ŚĞŵŝĐĂůƐ>ŝŵŝƚĞĚĂŶĚƉŽƐƐĞƐƐĞƐǀĂƐƚĮŶĂŶĐŝĂůĂŶĚŵĂŶĂŐĞƌŝĂů ŽĨ ,Žƚ ƌŝƋƵĞƩĞĚ /ƌŽŶ ;,/Ϳ ŽŶ ϱƚŚ ĞĐĞŵďĞƌ͕ ϮϬϭϬ͘ dŚĞ ĞdžƉĞƌŝĞŶĐĞ͘,ĞũŽŝŶĞĚƚŚĞŽŵƉĂŶLJŝŶϮϬϬϭĂƐsŝĐĞWƌĞƐŝĚĞŶƚͲ EŽŵŝŶĂƟŽŶ ĂŶĚ ZĞŵƵŶĞƌĂƟŽŶ ŽŵŵŝƩĞĞ ŽĨ ƚŚĞ ŽĂƌĚ ŚĂĚ &ŝŶĂŶĐĞĂŶĚǁĂƐĞůĞǀĂƚĞĚƚŽƚŚĞƉŽƐŝƟŽŶŽĨtŚŽůĞƟŵĞŝƌĞĐƚŽƌ ƌĞĐŽŵŵĞŶĚĞĚŚŝƐĂƉƉŽŝŶƚŵĞŶƚĂŶĚƚĞƌŵƐŽĨƌĞŵƵŶĞƌĂƟŽŶŝŶŝƚƐ ŽŶ ϮϬƚŚ DĂLJ͕ ϮϬϬϰ͘ ,Ğ ǁĂƐ LJ͘ DĂŶĂŐŝŶŐ ŝƌĞĐƚŽƌ ŽĨ :ŝŶĚĂů ŵĞĞƟŶŐŚĞůĚŽŶϵƚŚEŽǀĞŵďĞƌ͕ϮϬϭϮ͘dŚĞŽĂƌĚ͕ŚĂĚ͕ƐƵďũĞĐƚ WŽǁĞƌ>ŝŵŝƚĞĚ;:W>ͿĂŶĚ'ƌŽƵƉ&KĨƌŽŵϭϴƚŚ:ƵŶĞ͕ϮϬϬϴƵƉƚŽ ƚŽ LJŽƵƌ ĂƉƉƌŽǀĂů͕ Ăƚ ŝƚƐ ŵĞĞƟŶŐ ŚĞůĚ ŽŶ ϵƚŚ EŽǀĞŵďĞƌ͕ ϮϬϭϮ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ͘,ĞǁĂƐŝŶƐƚƌƵŵĞŶƚĂůŝŶĮŶĂŶĐŝĂůƉůĂŶŶŝŶŐĂŶĚ ĂƉƉŽŝŶƚĞĚŚŝŵĂƐtŚŽůĞƟŵĞŝƌĞĐƚŽƌ͘ ŝŶ ĂĐŚŝĞǀŝŶŐ ĮŶĂŶĐŝĂů ĐůŽƐƵƌĞƐ ĨŽƌ ƚŚĞ ϭ͕ϬϬϬ Dt ŵĞŐĂ ƉŽǁĞƌ ƐƉĞƌ^ĞĐƟŽŶ/ŽĨWĂƌƚͲ//ŽĨ^ĐŚĞĚƵůĞy///ƚŽƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ ƉƌŽũĞĐƚŽĨ:W>͘ ϭϵϱϲ͕ŝĨƚŚĞŽŵƉĂŶLJ ŚĂƐĂĚĞƋƵĂƚĞ ƉƌŽĮƚƐ͕ƚŚĞŽĂƌĚŵĂLJ Įdž ,Ğ ŝƐ ƚŚĞ &ŽƵŶĚĞƌ ŚĂŝƌŵĂŶ ŽĨ /ŶĚŽͲ'ĞŽƌŐŝĂŶ ŚĂŵďĞƌƐ ŽĨ ƌĞŵƵŶĞƌĂƟŽŶǁŝƚŚŝŶƚŚĞĐĞŝůŝŶŐĂƐƉƌŽǀŝĚĞĚŝŶ^ĞĐƟŽŶϭϵϴĂŶĚ ŽŵŵĞƌĐĞ ĞƐƚĂďůŝƐŚĞĚ ŝŶ ϮϬϭϬ Ăƚ 'ĞŽƌŐŝĂ͕ ŽͲŚĂŝƌŵĂŶ ŽĨ ϯϬϵŽĨƚŚĂƚĐƚǁŚŝĐŚŝƐϭϬйŽĨƚŚĞŶĞƚƉƌŽĮƚƐ͘ƐƉĞƌĂƵĚŝƚĞĚ ^^K,DEĂƟŽŶĂůŽƵŶĐŝůŽŶDŝŶĞƐĂŶĚDŝŶĞƌĂůƐ͕ŚĂŝƌŵĂŶ ĂĐĐŽƵŶƚƐĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϮͲϭϯ͕ƚŚĞŽŵƉĂŶLJŚĂƐĞĂƌŶĞĚ ŽĨ ^^K,D EĂƟŽŶĂů ŽƵŶĐŝů ŽŶ /ŶĚŝĂ  Ͳ >ĂƟŶ ŵĞƌŝĐĂŶ ŶĞƚ ƉƌŽĮƚ ŽĨ ` ϭ͕ϱϵϮ͘ϱϱ ĐƌŽƌĞƐ͕ ǁŚŝĐŚ ŝƐ ĐŽŶƐŝĚĞƌĞĚ ƐƵĸĐŝĞŶƚ ŽƵŶƚƌŝĞƐƵƐŝŶĞƐƐWƌŽŵŽƟŽŶŽƵŶĐŝů͕ŚĂŝƌŵĂŶŽĨ/ŶĚŽͲ'ĞƌŵĂŶ ĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨƉĂLJŵĞŶƚŽĨƌĞŵƵŶĞƌĂƟŽŶƚŽƚŚĞŵĂŶĂŐĞƌŝĂů ŚĂŵďĞƌƐŽĨŽŵŵĞƌĐĞ͕ŵĞŵďĞƌŽĨdžƉĞƌƚŽŵŵŝƩĞĞŽŶ/ƌŽŶ ƉĞƌƐŽŶŶĞůŽĨƚŚĞŽŵƉĂŶLJŝŶĐůƵĚŝŶŐŚŝŵ͘

73 Annual Report 2012-13 dŚĞ ƚĞƌŵƐ ĂŶĚ ĐŽŶĚŝƟŽŶƐ ŝŶĐůƵĚŝŶŐ ĚĞƚĂŝůƐ ŽĨ ƌĞŵƵŶĞƌĂƟŽŶ ƐƵĸĐŝĞŶƚĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨƉĂLJŵĞŶƚŽĨƉƌŽƉŽƐĞĚƌĞŵƵŶĞƌĂƟŽŶ ŐŝǀĞŶŝŶƌĞƐŽůƵƟŽŶEŽ͘ϭϯŵĂLJďĞƚƌĞĂƚĞĚĂƐĂďƐƚƌĂĐƚŽĨƚĞƌŵƐŽĨ ƚŽƚŚĞŵĂŶĂŐĞƌŝĂůƉĞƌƐŽŶŶĞůŽĨƚŚĞŽŵƉĂŶLJ͘/ŶƚĞƌŵƐŽĨ^ĞĐƟŽŶ ĂƉƉŽŝŶƚŵĞŶƚŽĨ^ŚƌŝŝŶĞƐŚ<ƵŵĂƌ^ĂƌĂŽŐŝƵŶĚĞƌ^ĞĐƟŽŶϯϬϮŽĨ ϯϭϬĂŶĚŽƚŚĞƌĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐƌĞĂĚǁŝƚŚ^ĐŚĞĚƵůĞy///ƚŽƚŚĞ ƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲ͘ ŽŵƉĂŶŝĞƐ Đƚ͕ ϭϵϱϲ͕ ƚŚĞ ŽĂƌĚ ŵĂLJ ƌĞǀŝƐĞ ƚŚĞ ƌĞŵƵŶĞƌĂƟŽŶ ƐƵďũĞĐƚƚŽĂƉƉƌŽǀĂůŽĨƚŚĞƐŚĂƌĞŚŽůĚĞƌƐŝŶŐĞŶĞƌĂůŵĞĞƟŶŐ͘dŚĞ dŚĞ ŽĂƌĚ ƌĞĐŽŵŵĞŶĚƐ ƚŚŝƐ ƌĞƐŽůƵƟŽŶ ĨŽƌ LJŽƵƌ ĂƉƉƌŽǀĂů͘ ^Śƌŝ ŽĂƌĚĐŽŶƐŝĚĞƌĞĚƚŚĞŵĂƩĞƌŝŶŝƚƐŵĞĞƟŶŐŚĞůĚŽŶϮϱƚŚƉƌŝů͕ ŝŶĞƐŚ<ƵŵĂƌ^ĂƌĂŽŐŝŝƐŝŶƚĞƌĞƐƚĞĚŝŶƚŚŝƐƌĞƐŽůƵƟŽŶ͘ ϮϬϭϯĂŶĚƌĞĐŽŵŵĞŶĚƐƚŚĞƐĞƌĞƐŽůƵƟŽŶƐĨŽƌLJŽƵƌĂƉƉƌŽǀĂů͘ ZĞƐŽůƵƟŽŶEŽϭϰ͕ϭϱΘϭϲ͗ dŚĞƚĞƌŵƐŽĨƌĞǀŝƐŝŽŶŽĨƌĞŵƵŶĞƌĂƟŽŶŐŝǀĞŶŝŶƚŚĞƐĂŝĚƌĞƐŽůƵƟŽŶƐ /ŶǀŝĞǁŽĨƚŚĞŝƌƐƚĂƚƵƐŝŶƚŚĞŝŶĚƵƐƚƌLJ͕ƐƚĂŶĚĂƌĚĂŶĚĐŽƐƚŽĨůŝǀŝŶŐ͕ ŵĂLJďĞƚƌĞĂƚĞĚĂƐĂŶĂďƐƚƌĂĐƚŽĨƚĞƌŵƐŽĨƌĞŵƵŶĞƌĂƟŽŶŽĨƚŚĞ ŝŶĐƌĞĂƐŝŶŐ ƌĞƐƉŽŶƐŝďŝůŝƟĞƐ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ĞdžƉĂŶĚŝŶŐ ďƵƐŝŶĞƐƐ ƐĂŝĚŝƌĞĐƚŽƌƐƵŶĚĞƌƐĞĐƟŽŶϯϬϮŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲ͘ ĂĐƟǀŝƟĞƐǁŝƚŚŝŶ/ŶĚŝĂĂŶĚĂďƌŽĂĚ͕ƟŵĞĂŶĚĞīŽƌƚƉƵƚŝŶďLJƚŚĞŵ ƚŽǁĂƌĚƐ ŵĂŶĂŐŝŶŐ ĂīĂŝƌƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ͕ ĚLJŶĂŵŝĐ ŝŶĚƵƐƚƌLJ ^ŚƌŝZĂǀŝhƉƉĂů͕^ŚƌŝŶĂŶĚ'ŽĞůĂŶĚ^ŚƌŝŝŶĞƐŚ<ƵŵĂƌ^ĂƌĂŽŐŝ ƐĐĞŶĂƌŝŽ ĂŶĚ ďƵƐŝŶĞƐƐ ŶĞĞĚƐ ĂŶĚ ŽŶ ƚŚĞ ƌĞĐŽŵŵĞŶĚĂƟŽŶ ŽĨ ĂƌĞŝŶƚĞƌĞƐƚĞĚŝŶƚŚĞŝƌƌĞƐƉĞĐƟǀĞƌĞƐŽůƵƟŽŶƐ͘ EŽŵŝŶĂƟŽŶ ĂŶĚ ZĞŵƵŶƌĂƟŽŶ ŽŵŵŝƩĞĞ ŽĨ ƚŚĞ ŽĂƌĚ ĂŶĚ ƐƵďũĞĐƚƚŽLJŽƵƌĂƉƉƌŽǀĂů͕ƚŚĞŽĂƌĚŚĂƐ͕ƌĞǀŝƐĞĚƚŚĞƌĞŵƵŶĞƌĂƟŽŶ ŽĨ^ŚƌŝZĂǀŝhƉƉĂů͕^ŚƌŝŶĂŶĚ'ŽĞůĂŶĚ^ŚƌŝŝŶĞƐŚ<ƵŵĂƌ^ĂƌĂŽŐŝ WůĂĐĞ͗EĞǁĞůŚŝ LJŽƌĚĞƌŽĨƚŚĞŽĂƌĚ ǁŝƚŚĞīĞĐƚĨƌŽŵϭƐƚƉƌŝů͕ϮϬϭϯĂƐĐŽŶƚĂŝŶĞĚŝŶƌĞƐŽůƵƟŽŶEŽ͘ϭϰ͕ ĂƚĞĚ͗ϵƚŚƵŐƵƐƚ͕ϮϬϭϯ ϭϱΘϭϲ͘^ŚƌŝŶĂŶĚ'ŽĞůŚĂƐƌĞƐŝŐŶĞĚĨƌŽŵƚŚĞĚŝƌĞĐƚŽƌƐŚŝƉŽĨ ƚŚĞŽŵƉĂŶLJĨƌŽŵƚŚĞĐůŽƐĞŽĨƚŚĞďƵƐŝŶĞƐƐŚŽƵƌƐŽĨϯϭƐƚDĂLJ͕ ZĞŐŝƐƚĞƌĞĚKĸĐĞ͗ T.K. Sadhu ϮϬϭϯĂŶĚĂƐƐƵĐŚŚĞŚĂƐďĞĞŶƉĂŝĚƌĞǀŝƐĞĚƌĞŵƵŶĞƌĂƟŽŶĨŽƌƚŚĞ ŵŽŶƚŚŽĨƉƌŝůĂŶĚDĂLJ͕ϮϬϭϯŽŶůLJ͘ K͘W͘:ŝŶĚĂůDĂƌŐ͕ ŽŵƉĂŶLJ^ĞĐƌĞƚĂƌLJ ,ŝƐĂƌʹϭϮϱϬϬϱ ƐƉĞƌ^ĞĐƟŽŶ/ŽĨWĂƌƚͲ//ŽĨ^ĐŚĞĚƵůĞy///ƚŽƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ ,ĂƌLJĂŶĂ ϭϵϱϲ͕ŝĨƚŚĞŽŵƉĂŶLJ ŚĂƐĂĚĞƋƵĂƚĞ ƉƌŽĮƚƐ͕ƚŚĞŽĂƌĚŵĂLJ Įdž ͬƌĞǀŝƐĞƌĞŵƵŶĞƌĂƟŽŶǁŝƚŚŝŶƚŚĞĐĞŝůŝŶŐĂƐƉƌŽǀŝĚĞĚŝŶ^ĞĐƟŽŶ ϭϵϴĂŶĚϯϬϵŽĨƚŚĂƚĐƚǁŚŝĐŚŝƐϭϬйŽĨƚŚĞŶĞƚƉƌŽĮƚƐ͘ƐƉĞƌ ĂƵĚŝƚĞĚ ĂĐĐŽƵŶƚƐ ĨŽƌ ƚŚĞ ĮŶĂŶĐŝĂů LJĞĂƌ ϮϬϭϮͲϭϯ͕ ƚŚĞ ŽŵƉĂŶLJ ŚĂƐĞĂƌŶĞĚŶĞƚƉƌŽĮƚŽĨ`ϭ͕ϱϵϮ͘ϱϱĐƌŽƌĞƐ͕ǁŚŝĐŚŝƐĐŽŶƐŝĚĞƌĞĚ

74 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůKǀĞƌǀŝĞǁ Statutory Reports Financial Statements EŽƟĐĞ

FOR ATTENTION OF SHAREHOLDERS S.No EĂŵĞŽĨƚŚĞŽŵƉĂŶLJ ϭ͘ ZĞŐŝƐƚĞƌ ŽĨ ŵĞŵďĞƌƐ ĂŶĚ ƐŚĂƌĞ ƚƌĂŶƐĨĞƌ ŬƐ ŽĨ ƚŚĞ ϭϮ :ŝŶĚĂů^ƚĞĞůŽůŝǀŝĂ^ ŽŵƉĂŶLJ ǁŝůů ƌĞŵĂŝŶ ĐůŽƐĞĚ ĨƌŽŵ ϭϳƚŚ ^ĞƉƚĞŵďĞƌ͕ ϮϬϭϯ ϭϯ ^ŬLJŚŝŐŚKǀĞƌƐĞĂƐ>ŝŵŝƚĞĚ ƚŽ ϮϬƚŚ ^ĞƉƚĞŵďĞƌ͕ ϮϬϭϯ ;ďŽƚŚ ĚĂLJƐ ŝŶĐůƵƐŝǀĞͿ ĂŶĚ  ƚŚĞ ĚŝǀŝĚĞŶĚ͕ŝĨĚĞĐůĂƌĞĚďLJƚŚĞŵĞŵďĞƌƐ͕ƐŚĂůůďĞƉĂŝĚƚŽƚŚŽƐĞ ϭϰ ŶĚƵƌŝŶŐKǀĞƌƐĞĂƐ/ŶĐ ŵĞŵďĞƌƐǁŚŽƐĞŶĂŵĞƐ͕ŝŶĐĂƐĞŽĨƐŚĂƌĞƐŚĞůĚŝŶĞůĞĐƚƌŽŶŝĐ ϭϱ ,ĂƌŵŽŶLJKǀĞƌƐĞĂƐ>ŝŵŝƚĞĚ ĨŽƌŵ;ĞŵĂƚ&ŽƌŵͿ͕ĂƉƉĞĂƌĂƐďĞŶĞĮĐŝĂůŽǁŶĞƌƐ͕ĂƐĂƚĐůŽƐĞ ϭϲ :ŝŶĨƌŝĐĂ>ŝŵŝƚĞĚ ŽĨďƵƐŝŶĞƐƐŚŽƵƌƐŽŶϭϲƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϯĂŶĚĨŽƌƐŚĂƌĞƐ ϭϳ :ŝŶĚĂůĨƌŝĐĂ/ŶǀĞƐƚŵĞŶƚƐ;WƚLJͿ>ŝŵŝƚĞĚ ŚĞůĚŝŶƉŚLJƐŝĐĂůĨŽƌŵĂƉƉĞĂƌŝŶƚŚĞZĞŐŝƐƚĞƌŽĨŵĞŵďĞƌƐŽŶ ϭϴ :ŝŶĚĂůĨƌŝĐĂ>ŝďĞƌŝĂ>ŝŵŝƚĞĚ ϮϬƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϯĂŌĞƌŐŝǀŝŶŐĞīĞĐƚƚŽĂůůǀĂůŝĚƚƌĂŶƐĨĞƌƐ ŝŶ ƉŚLJƐŝĐĂů ĨƌŽŵ ůŽĚŐĞĚ ǁŝƚŚ ƚŚĞ ŽŵƉĂŶLJ ĂŶĚ ZĞŐŝƐƚƌĂƌ ϭϵ :ŝŶĚĂůĨƌŝĐĂ^ ĂŶĚdƌĂŶƐĨĞƌŐĞŶƚŽŶŽƌďĞĨŽƌĞϭϲƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϯ͘dŚĞ ϮϬ :ŝŶĚĂůŽƚƐǁĂŶĂ;WƚLJͿ>ŝŵŝƚĞĚ ĚŝǀŝĚĞŶĚŽŶĞƋƵŝƚLJƐŚĂƌĞƐ͕ŝĨĚĞĐůĂƌĞĚĂƚƚŚĞŵĞĞƟŶŐ͕ǁŝůů Ϯϭ :ŝŶĚĂůƌĂƐŝůDŝŶĞƌĂĕĆŽ^ͬ ďĞ ĐƌĞĚŝƚĞĚͬ ĚŝƐƚƌŝďƵƚĞĚ ďĞƚǁĞĞŶ ϯϬƚŚ ^ĞƉƚĞŵďĞƌ͕ ϮϬϭϯ ϮϮ :ŝŶĚĂůs/>ƚĚ ĂŶĚϮϵƚŚKĐƚŽďĞƌ͕ϮϬϭϯ͘ Ϯϯ //ŶƚĞƌŶĂƟŽŶĂůĂƌďĂĚŽƐŽƌƉ Ϯ͘ dŚĞ DŝŶŝƐƚƌLJ ŽĨ ŽƌƉŽƌĂƚĞ īĂŝƌƐ͕ 'ŽǀĞƌŶŵĞŶƚ ŽĨ /ŶĚŝĂ͕ Ϯϰ :ŝŶĚĂů/ŶǀĞƐƚŵĞŶƚ,ŽůĚŝŶŐƐ>ŝŵŝƚĞĚ ǀŝĚĞ ŝƚƐ 'ĞŶĞƌĂů ŝƌĐƵůĂƌ EŽ͘ ϮͬϮϬϭϭ ĚĂƚĞĚ ϴƚŚ &ĞďƌƵĂƌLJ͕ ϮϬϭϭ͕ ŚĂƐ ŐŝǀĞŶ ŐĞŶĞƌĂů ĞdžĞŵƉƟŽŶ ƚŽ ƚŚĞ ĐŽŵƉĂŶŝĞƐ Ϯϱ :ŝŶĚĂůDĂĚĂŐĂƐĐĂƌ^Z> ĨƌŽŵ ĂƩĂĐŚŝŶŐ ƚŚĞ ĂůĂŶĐĞ ^ŚĞĞƚ ĂŶĚ ŽƚŚĞƌ ĚŽĐƵŵĞŶƚƐ Ϯϲ :ŝŶĚĂůDŝŶŝŶŐΘdžƉůŽƌĂƟŽŶ>ŝŵŝƚĞĚ ŽĨƐƵďƐŝĚŝĂƌLJĐŽŵƉĂŶŝĞƐĂƐƌĞƋƵŝƌĞĚƵŶĚĞƌ^ĞĐƟŽŶϮϭϮ;ϭͿ Ϯϳ :ŝŶĚĂůDŝŶŝŶŐEĂŵŝďŝĂ;WƚLJͿ>ŝŵŝƚĞĚ ŽĨ ƚŚĞ ŽŵƉĂŶŝĞƐ Đƚ͕ ϭϵϱϲ͕ ǁŝƚŚ ŶŶƵĂů ĐĐŽƵŶƚƐ ŽĨ Ϯϴ :ŝŶĚĂů^ƚĞĞůΘDŝŶĞƌĂůƐŝŵďĂďǁĞ>ŝŵŝƚĞĚ ƚŚĞ ŽŵƉĂŶLJ ŝĨ ƚŚĞ ŽĂƌĚ ŽĨ ŝƌĞĐƚŽƌƐ ƐŽ ĚĞĐŝĚĞƐ͘ dŚĞ ŽĂƌĚŽĨŝƌĞĐƚŽƌƐŚĂƐ͕ŝŶŝƚƐŵĞĞƟŶŐŚĞůĚŽŶϮϱƚŚƉƌŝů͕ Ϯϵ :ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌ;Ϳ>ŝŵŝƚĞĚ ϮϬϭϯ͕ĚĞĐŝĚĞĚŶŽƚƚŽĂƩĂĐŚƚŚĞĂůĂŶĐĞ^ŚĞĞƚĂŶĚŽƚŚĞƌ ϯϬ :ŝŶĚĂů^ƚĞĞůĂŶĚWŽǁĞƌ;ƵƐƚƌĂůŝĂͿWƚLJ>ŝŵŝƚĞĚ ĚŽĐƵŵĞŶƚƐ ŽĨ ƚŚĞ ƐƵďƐŝĚŝĂƌLJ ĐŽŵƉĂŶŝĞƐ ǁŝƚŚ ƚŚĞ ŶŶƵĂů ϯϭ :ŝŶĚĂůdĂŶnjĂŶŝĂ>ŝŵŝƚĞĚ ĐĐŽƵŶƚƐŽĨƚŚĞŽŵƉĂŶLJ͘WůĞĂƐĞŶŽƚĞƚŚĂƚƚŚĞĨŽůůŽǁŝŶŐ ϯϮ :ŝŶĚĂůĂŵďŝĂ>ŝŵŝƚĞĚ ŝŶĨŽƌŵĂƟŽŶŚĂƐďĞĞŶĚŝƐĐůŽƐĞĚ͕ĂƚĂŶĂƉƉƌŽƉƌŝĂƚĞƉůĂĐĞ͕ŝŶ ϯϯ :^W>DŽnjĂŵďŝƋƵĞDŝŶĞƌĂŝƐ> ƚŚŝƐZĞƉŽƌƚŝŶƌĞƐƉĞĐƚŽĨĞĂĐŚƐƵďƐŝĚŝĂƌLJĐŽŵƉĂŶLJ͘ ϯϰ :ƵďůŝĞŶƚKǀĞƌƐĞĂƐ>ŝŵŝƚĞĚ  ;ŝͿĂƉŝƚĂů;ŝŝͿZĞƐĞƌǀĞƐ;ŝŝŝͿdŽƚĂůƐƐĞƚƐ;ŝǀͿdŽƚĂů>ŝĂďŝůŝƟĞƐ ϯϱ KƐŚŽDĂĚĂŐĂƐĐĂƌ^Z> ;ǀͿĞƚĂŝůƐŽĨ/ŶǀĞƐƚŵĞŶƚƐ;ĞdžĐĞƉƚŝŶĐĂƐĞŽĨŝŶǀĞƐƚŵĞŶƚŝŶ ƚŚĞ ƐƵďƐŝĚŝĂƌŝĞƐͿ ;ǀŝͿ dƵƌŶŽǀĞƌ ;ǀŝŝͿ WƌŽĮƚ ďĞĨŽƌĞ dĂdžĂƟŽŶ ϯϲ Wd:ŝŶĚĂůKǀĞƌƐĞĂƐ ;ǀŝŝŝͿ WƌŽǀŝƐŝŽŶ ĨŽƌ dĂdžĂƟŽŶ ;ŝdžͿ WƌŽĮƚ ĂŌĞƌ dĂdžĂƟŽŶ ;džͿ ϯϳ ^ŚĂĚĞĞĚ/ƌŽŶΘ^ƚĞĞů>> WƌŽƉŽƐĞĚŝǀŝĚĞŶĚ͘ ϯϴ dĂďůĞƚůƵĞdƌĂĚĞĂŶĚ/ŶǀĞƐƚ;WƚLJͿ>ŝŵŝƚĞĚ  dŚĞ ŽŵƉĂŶLJ ƵŶĚĞƌƚĂŬĞƐ ƚŚĂƚ ŶŶƵĂů ĐĐŽƵŶƚƐ ŽĨ ƚŚĞ ϯϵ dƌĂŶƐƐŝĂDŝŶŝŶŐWƚĞ͘>ŝŵŝƚĞĚ ^ƵďƐŝĚŝĂƌLJĐŽŵƉĂŶŝĞƐŶĂŵĞůLJ͗Ͳ ϰϬ dƌĂŶƐƚůĂŶƟĐdƌĂĚŝŶŐ>ŝŵŝƚĞĚ S.No EĂŵĞŽĨƚŚĞŽŵƉĂŶLJ ϰϭ sŝƐŝŽŶKǀĞƌƐĞĂƐ>ŝŵŝƚĞĚ ϭ :ŝŶĚĂůWŽǁĞƌ>ŝŵŝƚĞĚ ϰϮ WĂŶĂĐŽƌĞ/ŶǀĞƐƚŵĞŶƚ>ƚĚ͕ Ϯ :ŝŶĚĂů^LJŶĨƵĞůƐ>ŝŵŝƚĞĚ ϰϯ ĞůĚĞŵƉƌĞĞŶĚŝŵĞŶƚŽƐDŝŶĞŝƌŽƐ> ϯ hƌƚĂŶEŽƌƚŚDŝŶŝŶŐŽŵƉĂŶLJ>ŝŵŝƚĞĚ ϰϰ :ŝŶĚĂů/ŶǀĞƐƟŵĞŶƚŽƐ>ŝŵŝƚĂĚĂ ϰ ŵďŝƟŽƵƐWŽǁĞƌdƌĂĚŝŶŐŽŵƉĂŶLJ>ŝŵŝƚĞĚ ϰϱ :ŝŶĚĂůDŝŶŝŶŐ^;WƚLJͿ>ŝŵŝƚĞĚ ϱ <ĂŵĂůĂ,LJĚƌŽůĞĐƚƌŝĐWŽǁĞƌŽŵƉĂŶLJ>ƚĚ ϰϲ ĂƐƚĞƌŶ^ŽůŝĚ&ƵĞůƐ;WƚLJͿ>ŝŵŝƚĞĚ 6 ƩƵŶůŝ,LJĚƌŽůĞĐƚƌŝĐWŽǁĞƌŽŵƉĂŶLJ>ŝŵŝƚĞĚ ϰϳ 'ĂƐdŽ>ŝƋƵŝĚ/ŶƚĞƌŶĂƟŽŶĂů^ ϳ ƚĂůŝŶ,LJĚƌŽůĞĐƚƌŝĐWŽǁĞƌŽŵƉĂŶLJ>ŝŵŝƚĞĚ ϰϴ Wd,/DŝŶŝŶŐ ϴ :ŝŶĚĂů,LJĚƌŽWŽǁĞƌ>ŝŵŝƚĞĚ ϰϵ Wd͘^ƵŵďĞƌ^ƵƌLJĂ'ĞŵŝůĂŶŐ ϵ :ŝŶĚĂůWŽǁĞƌdƌĂŶƐŵŝƐƐŝŽŶ>ŝŵŝƚĞĚ ϱϬ Wd͘DĂƌƵǁĂŝĂƌĂďĂĚŝ ϭϬ :ŝŶĚĂůWŽǁĞƌŝƐƚƌŝďƵƟŽŶ>ŝŵŝƚĞĚ ϱϭ ŽŶͲdĞƌƌĂDŝŶŝŶŐ;WƚLJͿ>ŝŵŝƚĞĚ ϭϭ :ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌ;DĂƵƌŝƟƵƐͿ>ŝŵŝƚĞĚ ϱϮ /;ĂƌďĂĚŽƐͿ,ŽůĚŝŶŐŽƌƉ

75 Annual Report 2012-13 S.No EĂŵĞŽĨƚŚĞŽŵƉĂŶLJ ϲ͘ /ŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞƉƌŽǀŝƐŝŽŶƐŽĨůĂƵƐĞϱŽĨƚŚĞůŝƐƟŶŐ ĂŐƌĞĞŵĞŶƚ͕ ƚŚĞ ŽŵƉĂŶLJ ŚĂĚ ŽƉĞŶĞĚ Ă ĚĞŵĂƚ ĂĐĐŽƵŶƚ ϱϯ /ŶĞƌŐLJ;ĂŚĂŵĂƐͿ>ŝŵŝƚĞĚ ŶĂŵĞůLJ͚:ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌ>ŝŵŝƚĞĚͲhŶĐůĂŝŵĞĚ^ƵƐƉĞŶƐĞ ϱϰ :ŝŶĚĂůŶĞƌŐLJ;ŽƚƐǁĂŶĂͿWƚLJ>ŝŵŝƚĞĚ ĐĐŽƵŶƚ͛ǁŝƚŚůĂŶŬŝƚƐƐŝŐŶŵĞŶƚƐ>ŝŵŝƚĞĚĂŶĚƚƌĂŶƐĨĞƌƌĞĚ ϱϱ :ŝŶĚĂůŶĞƌŐLJ;^ͿWƚLJ>ŝŵŝƚĞĚ ϯϵ͕ϴϲ͕Ϭϭϱ ƐŚĂƌĞƐ ŽĨ ϭ͕ϳϴϰ ŵĞŵďĞƌƐ ƚŽ ƚŚŝƐ ĂĐĐŽƵŶƚ͘ &Žƌ ϱϲ /dƌĂŶƐĂĨƌŝĐĂ;ĂƌďĂĚŽƐͿŽƌƉ ĐůĂŝŵŝŶŐƚŚĞƐĞƐŚĂƌĞƐƉůĞĂƐĞǁƌŝƚĞƚŽƚŚĞŽŵƉĂŶLJĂƚϮϴ͕ EĂũĂĨŐĂƌŚZŽĂĚ͕EĞǁĞůŚŝͲϭϭϬϬϭϱ͕ϬϭϭͲϰϱϬϮϭϴϭϰͲϴϮϮ͕ĨĂdž ϱϳ :ŝŶĚĂůZĞƐŽƵƌĐĞƐ;ŽƚƐǁĂŶĂͿWƚLJ>ŝŵŝƚĞĚ ϬϭϭͲϰϱϬϮϭϴϮϴ͕ĞͲŵĂŝů͗ŝŶǀĞƐƚŽƌĐĂƌĞΛũŝŶĚĂůƐƚĞĞů͘ĐŽŵ͘ ϱϴ dƌĂŶƐĨƌŝĐĂZĂŝů;WƚLJͿ>ŝŵŝƚĞĚ ϱϵ ^ĂĚͲůĞĐ;WƚLJͿ>ŝŵŝƚĞĚ ϳ͘ dŚĞŽƐƚƵĚŝƚŽƌƐŽĨƚŚĞŽŵƉĂŶLJ͕DͬƐZĂŵĂŶĂƚŚ/LJĞƌĂŶĚ Ž͕͘ ;&ZE ϬϬϬϭϵͿ ŽƐƚ ĐĐŽƵŶƚĂŶƚƐ͕ ϴϬϴ͕ WĞĂƌůƐ ƵƐŝŶĞƐƐ ϲϬ /;ĂƌďĂĚŽƐͿDŝŶŝŶŐŽƌƉ WĂƌŬ͕ EĞƚĂũŝ ^ƵďĂƐŚ WůĂĐĞ͕ WŝƚĂŵƉƵƌĂ͕ EĞǁ ĞůŚŝͲϭϭϬϬϴϴ ϲϭ /;ĂƌďĂĚŽƐͿŶĞƌŐLJŽƌƉ ŚĂǀĞĮůĞĚƚŚĞŽƐƚƵĚŝƚZĞƉŽƌƚĨŽƌĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϭͲϭϮ ϲϮ DĞĞƉŽŶŐZĞƐŽƵƌĐĞƐ;DĂƵƌŝƚƵƐͿWƚLJ>ŝŵŝƚĞĚ ŝŶyZ>ĨŽƌŵŽŶϴƚŚ:ĂŶƵĂƌLJ͕ϮϬϭϯ͘dŚĞĚĂƚĞĨŽƌĮůŝŶŐƚŚĞ ϲϯ DĞĞƉŽŶŐZĞƐŽƵƌĐĞƐ;WƚLJͿ>ŝŵŝƚĞĚ ƌĞƉŽƌƚǁĂƐĞdžƚĞŶĚĞĚďLJƚŚĞŽƐƚƵĚŝƚƌĂŶĐŚŽĨDŝŶŝƐƚƌLJ ŽĨŽƌƉŽƌĂƚĞīĂŝƌƐĨƌŽŵƟŵĞƚŽƟŵĞƚŽĞŶĂďůĞĮůŝŶŐŽĨ ϲϰ DĞĞƉŽŶŐŶĞƌŐLJ;DĂƵƌŝƚƵƐͿWƚLJ>ŝŵŝƚĞĚ ƚŚŝƐƌĞƉŽƌƚŝŶyZ>͘dŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐŚĂƐĂƉƉŽŝŶƚĞĚ ϲϱ DĞĞƉŽŶŐŶĞƌŐLJ;WƚLJͿ>ŝŵŝƚĞĚ DͬƐZĂŵĂŶĂƚŚ/LJĞƌĂŶĚŽ͘;&ZEϬϬϬϭϵͿĂƐŽƐƚƵĚŝƚŽƌĨŽƌ 66 DĞĞƉŽŶŐ^ĞƌǀŝĐĞ;WƚLJͿ>ŝŵŝƚĞĚ ĂƵĚŝƟŶŐƚŚĞĐŽƐƚĂĐĐŽƵŶƟŶŐƌĞĐŽƌĚƐŽĨďƵƐŝŶĞƐƐĂĐƟǀŝƟĞƐ ϲϳ DĞĞƉŽŶŐtĂƚĞƌ;WƚLJͿ>ŝŵŝƚĞĚ ƌĞůĂƟŶŐ ƚŽ ƐƚĞĞů͕ ĐĞŵĞŶƚ ĂŶĚ ŵĂĐŚŝŶĞƌLJ ĨŽƌ ƚŚĞ ĮŶĂŶĐŝĂů LJĞĂƌϮϬϭϯͲϭϰ͘ ϲϴ ŽƌĞŵďŝƟŽŶ>ŝŵŝƚĞĚ ϲϵ ŽƌĞ&ŽƌƚĞ>ŝŵŝƚĞĚ ϴ͘ dŚĞ DŝŶŝƐƚƌLJ ŽĨ ŽƌƉŽƌĂƚĞ īĂŝƌƐ ŚĂƐ ƚĂŬĞŶ Ă ͞'ƌĞĞŶ /ŶŝƟĂƟǀĞ ŝŶ ƚŚĞ ŽƌƉŽƌĂƚĞ 'ŽǀĞƌŶĂŶĐĞ͟ ďLJ ĂůůŽǁŝŶŐ ϳϬ ŽƌĞ/ŶƚĞŐƌŝƚLJ>ŝŵŝƚĞĚ ƉĂƉĞƌůĞƐƐĐŽŵƉůŝĂŶĐĞƐďLJĐŽŵƉĂŶŝĞƐĂŶĚŚĂƐƚŽƚŚŝƐĞīĞĐƚ ϳϭ ŽƌĞsŝƐŝŽŶ>ŝŵŝƚĞĚ ŝƐƐƵĞĚ ĐŝƌĐƵůĂƌ ŶƵŵďĞƌ ϭϳͬϮϬϭϭ ŽŶ ϮϭƐƚ Ɖƌŝů͕ ϮϬϭϭ ĂŶĚ ϭϴͬϮϬϭϭ ŽŶ ϮϵƚŚ Ɖƌŝů͕ ϮϬϭϭ͘ dŚĞ ŽŵƉĂŶLJ ŝƐ ƐĞŶĚŝŶŐ  ǁŝůůďĞŵĂĚĞĂǀĂŝůĂďůĞƚŽƚŚĞŝŶǀĞƐƚŽƌƐŽĨƚŚĞƐĞ^ƵďƐŝĚŝĂƌLJ ƚŚĞŶŶƵĂůZĞƉŽƌƚŝŶĐůƵĚŝŶŐƚŚĞEŽƟĐĞŽĨŶŶƵĂů'ĞŶĞƌĂů ĐŽŵƉĂŶŝĞƐĂŶĚƚŚĞŽŵƉĂŶLJĂƐĂŶĚǁŚĞŶƚŚĞLJĚĞŵĂŶĚ͘ DĞĞƟŶŐ͕ ĂƵĚŝƚĞĚ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ͕ ŝƌĞĐƚŽƌƐ͛ ZĞƉŽƌƚ͕ dŚĞ ŶŶƵĂů ĐĐŽƵŶƚƐ ŽĨ ƚŚĞƐĞ ^ƵďƐŝĚŝĂƌLJ ĐŽŵƉĂŶŝĞƐ ƵĚŝƚŽƌƐ͛ ZĞƉŽƌƚ ĂůŽŶŐ ǁŝƚŚ ƚŚĞŝƌ ĂŶŶĞdžƵƌĞƐ ĞƚĐ͘ ĨŽƌ ƚŚĞ ǁŝůů ĂůƐŽ ďĞ ŬĞƉƚ ĨŽƌ ŝŶƐƉĞĐƟŽŶ ďLJ ĂŶLJ ŝŶǀĞƐƚŽƌƐ Ăƚ ƚŚĞ ĮŶĂŶĐŝĂů LJĞĂƌ ϮϬϭϮͲϭϯ ŝŶ ƚŚĞ ĞůĞĐƚƌŽŶŝĐ ŵŽĚĞ ƚŽ ƚŚĞ ƌĞŐŝƐƚĞƌĞĚŽĸĐĞŽĨƚŚĞŽŵƉĂŶLJĂƐǁĞůůĂƐƚŚĞƐĞ^ƵďƐŝĚŝĂƌLJ ƐŚĂƌĞŚŽůĚĞƌƐǁŚŽŚĂǀĞƌĞŐŝƐƚĞƌĞĚƚŚĞŝƌĞͲŵĂŝůŝĚƐǁŝƚŚƚŚĞ ŽŵƉĂŶŝĞƐ͘ ŽŵƉĂŶLJĂŶĚͬŽƌƚŚĞŝƌƌĞƐƉĞĐƟǀĞĞƉŽƐŝƚŽƌLJWĂƌƟĐŝƉĂŶƚƐ ϯ͘ DĞŵďĞƌƐ ĚĞƐŝƌŝŶŐ ĂŶLJ ŝŶĨŽƌŵĂƟŽŶ ͬ ĐůĂƌŝĮĐĂƟŽŶ ŽŶ ƚŚĞ ;WƐͿ͘ dŚĞ ĚŽĐƵŵĞŶƚƐ ďĞŝŶŐ ƐĞƌǀĞĚ ŝŶ ĞůĞĐƚƌŽŶŝĐ ĨŽƌŵ ĂĐĐŽƵŶƚƐĂƌĞƌĞƋƵĞƐƚĞĚƚŽǁƌŝƚĞƚŽƚŚĞŽŵƉĂŶLJĂƚůĞĂƐƚ ǁŝůů ĂůƐŽ ďĞ ĂǀĂŝůĂďůĞ ŽŶ  ĐŽŵƉĂŶLJ͛Ɛ ĐŽƌƉŽƌĂƚĞ ǁĞďƐŝƚĞ ƐĞǀĞŶĚĂLJƐŝŶĂĚǀĂŶĐĞƐŽĂƐƚŽĞŶĂďůĞƚŚĞŵĂŶĂŐĞŵĞŶƚƚŽ ǁǁǁ͘ũŝŶĚĂůƐƚĞĞůƉŽǁĞƌ͘ĐŽŵ͘ /Ŷ ĐĂƐĞ LJŽƵ ĚĞƐŝƌĞ ƚŽ ƌĞĐĞŝǀĞ ŬĞĞƉŝŶĨŽƌŵĂƟŽŶƌĞĂĚLJĂƚƚŚĞŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐ͘ ƚŚĞĚŽĐƵŵĞŶƚƐŵĞŶƟŽŶĞĚĂďŽǀĞŝŶƉŚLJƐŝĐĂůĨŽƌŵ͕LJŽƵĂƌĞ ƌĞƋƵĞƐƚĞĚƚŽŝŶƟŵĂƚĞƚŚĞŽŵƉĂŶLJĂƚϮϴ͕EĂũĂĨŐĂƌŚZŽĂĚ͕ ϰ͘ DĞŵďĞƌƐĂƌĞƌĞƋƵĞƐƚĞĚƚŽŶŽƚĞƚŚĂƚůĂŶŬŝƚƐƐŝŐŶŵĞŶƚƐ EĞǁĞůŚŝͲϭϭϬϬϭϱ͕ϬϭϭͲϰϱϬϮϭϴϭϰͲϴϮϮ͕ĨĂdžϬϭϭͲϰϱϬϮϭϴϮϴ͕ >ŝŵŝƚĞĚ͕ ůĂŶŬŝƚ ,ŽƵƐĞ͕ ϮͬϮϭ͕ :ŚĂŶĚĞǁĂůĂŶ džƚŶ͕͘ EĞǁ ĞͲŵĂŝů͗ŝŶǀĞƐƚŽƌĐĂƌĞΛũŝŶĚĂůƐƚĞĞů͘ĐŽŵ͘ ĞůŚŝͲϭϭϬϬϱϱ͕ŝƐƚŚĞZĞŐŝƐƚƌĂƌĂŶĚdƌĂŶƐĨĞƌ ŐĞŶƚƚŽ ůŽŽŬ ĂŌĞƌ ƚŚĞ ǁŽƌŬ ƌĞůĂƚĞĚ ƚŽ ƐŚĂƌĞƐ ŚĞůĚ ŝŶ ƉŚLJƐŝĐĂů ĂŶĚ  ^ŚĂƌĞŚŽůĚĞƌƐ ŚŽůĚŝŶŐ ƐŚĂƌĞƐ ŝŶ ƉŚLJƐŝĐĂů ŵŽĚĞ ĂƌĞ ĚĞŵĂƚĞƌŝĂůŝƐĞĚĨŽƌŵ͘ ƌĞƋƵĞƐƚĞĚ ƚŽ ƌĞŐŝƐƚĞƌ ƚŚĞŝƌ ĞͲŵĂŝů ŝĚƐ ǁŝƚŚ ƚŚĞ ŽŵƉĂŶLJ ĂŶĚ ƐŚĂƌĞŚŽůĚĞƌƐ ŚŽůĚŝŶŐ ƐŚĂƌĞƐ ŝŶ ĞůĞĐƚƌŽŶŝĐ ŵŽĚĞ ĂƌĞ ϱ͘ DĞŵďĞƌƐ ĂƌĞ ƌĞƋƵĞƐƚĞĚ ƚŽ ŝŵŵĞĚŝĂƚĞůLJ ŶŽƟĨLJ ƚŽ ƚŚĞ ƌĞƋƵĞƐƚĞĚƚŽƵƉĚĂƚĞƚŚĞŝƌĞͲŵĂŝůŝĚƐǁŝƚŚƚŚĞŝƌƌĞƐƉĞĐƟǀĞ ZĞŐŝƐƚƌĂƌ ĂŶĚ dƌĂŶƐĨĞƌ ŐĞŶƚ ĂŶLJ ĐŚĂŶŐĞ ŝŶ ƚŚĞŝƌ ĂĚĚƌĞƐƐ WƐĨŽƌƉƵƌƉŽƐĞŽĨƐĞŶĚŝŶŐĚŽĐƵŵĞŶƚƐĂŶĚĐŽƌƌĞƐƉŽŶĚĞŶĐĞ ŝŶ ƌĞƐƉĞĐƚ ŽĨ ƐŚĂƌĞƐ ŚĞůĚ ŝŶ ƉŚLJƐŝĐĂů ĨŽƌŵ ĂŶĚ ƚŽ ƚŚĞŝƌ ŝŶĞůĞĐƚƌŽŶŝĐŵŽĚĞ͘ ĞƉŽƐŝƚŽƌLJWĂƌƟĐŝƉĂŶƚƐ;WƐͿŝŶƌĞƐƉĞĐƚŽĨƐŚĂƌĞƐŚĞůĚŝŶ ƚŚĞĚĞŵĂƚĞƌŝĂůŝƐĞĚĨŽƌŵ͘ ϵ͘ WůĞĂƐĞ ďƌŝŶŐ Ă ĐŽƉLJ ŽĨ ŶŶƵĂů ZĞƉŽƌƚ ĂŶĚ ĚƵůLJ ĮůůĞĚ ŝŶ ĂƩĞŶĚĂŶĐĞƐůŝƉĨŽƌĂƩĞŶĚŝŶŐƚŚĞŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐ͘

76 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůKǀĞƌǀŝĞǁ Statutory Reports Financial Statements EŽƟĐĞ

ϭϬ͘ hE>/DͬhEW//s/E  /ŶƚĞƌŵƐŽĨ^ĞĐƟŽŶϮϬϱŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲ͕ƚŚĞĞŶƚƌĂů'ŽǀĞƌŶŵĞŶƚŚĂƐĞƐƚĂďůŝƐŚĞĚ͞/ŶǀĞƐƚŽƌĚƵĐĂƟŽŶĂŶĚWƌŽƚĞĐƟŽŶ &ƵŶĚ͟;/W&ͿĂŶĚĂŶLJĂŵŽƵŶƚŽĨĚŝǀŝĚĞŶĚͬĮdžĞĚĚĞƉŽƐŝƚĞƚĐ͘ƌĞŵĂŝŶŝŶŐƵŶĐůĂŝŵĞĚͬƵŶƉĂŝĚĨŽƌĂƉĞƌŝŽĚŽĨƐĞǀĞŶLJĞĂƌƐĨƌŽŵƚŚĞ ĚĂƚĞŝƚďĞĐŽŵĞƐĚƵĞĨŽƌƚŚĞƉĂLJŵĞŶƚƐŚŽƵůĚďĞƚƌĂŶƐĨĞƌƌĞĚƚŽƚŚŝƐĨƵŶĚ͘&ŽůůŽǁŝŶŐƚĂďůĞŐŝǀĞƐŝŶĨŽƌŵĂƟŽŶƌĞůĂƟŶŐƚŽƵŶƉĂŝĚ ĚŝǀŝĚĞŶĚĂĐĐŽƵŶƚƐĂŶĚůĂƐƚĚĂƚĞƐĨŽƌĐůĂŝŵ͘

S. No. Year ĞƐĐƌŝƉƟŽŶ ĂƚĞŽĨĞĐůĂƌĂƟŽŶ Last Date of Claiming Dividend ϭ ϮϬϬϱͲϬϲ ŝǀŝĚĞŶĚΛϮϬϬй ϮϳƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϬϲ ϮϲƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϯ Ϯ ϮϬϬϲͲϬϳ /ŶƚĞƌŝŵŝǀŝĚĞŶĚΛϭϮϬй ϮϵƚŚ:ĂŶƵĂƌLJ͕ϮϬϬϳ ϮϴƚŚ:ĂŶƵĂƌLJ͕ϮϬϭϰ ϯ ϮϬϬϲͲϬϳ ŝǀŝĚĞŶĚΛϮϰϬй ϮϴƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϬϳ ϮϳƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϰ ϰ ϮϬϬϳͲϬϴ /ŶƚĞƌŝŵŝǀŝĚĞŶĚΛϭϱϬй ϭϴƚŚ&ĞďƌƵĂƌLJ͕ϮϬϬϴ ϭϳƚŚ&ĞďƌƵĂƌLJ͕ϮϬϭϱ ϱ ϮϬϬϳͲϬϴ ŝǀŝĚĞŶĚΛϮϱϬй ϮϲƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϬϴ ϮϱƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϱ 6 ϮϬϬϴͲϬϵ ŝǀŝĚĞŶĚΛϱϱϬй ϮϵƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϬϵ ϮϴƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϲ ϳ ϮϬϬϵͲϭϬ ŝǀŝĚĞŶĚΛϭϮϱй ϮϴƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϬ ϮϳƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϳ ϴ ϮϬϭϬͲϭϭ ŝǀŝĚĞŶĚΛϭϱϬй ϮϵƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϭ ϮϴƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϴ ϵ ϮϬϭϭͲϭϮ ŝǀŝĚĞŶĚΛϭϲϬй ϮϲƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϮ ϮϱƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϵ

 dŚŽƐĞǁŚŽŚĂǀĞŶŽƚƌĞĐĞŝǀĞĚͬĞŶĐĂƐŚĞĚƚŚĞŝƌĚŝǀŝĚĞŶĚǁĂƌƌĂŶƚƐǁŝƚŚƌĞƐƉĞĐƚƚŽĂďŽǀĞĚŝǀŝĚĞŶĚƐŵĂLJƉůĞĂƐĞĐŽƌƌĞƐƉŽŶĚǁŝƚŚƚŚĞ ŽŵƉĂŶLJĨŽƌĐůĂŝŵŝŶŐƚŚĞƵŶĐůĂŝŵĞĚĂŵŽƵŶƚ͘

͞EK'/&ddK/^dZ/hd/Ed,EEh>'EZ>Dd/E'͟

77 Annual Report 2012-13 ŝƌĞĐƚŽƌƐ͛ZĞƉŽƌƚ

d,KDWEz “HAS, on a consolidated ďĂƐŝƐ͕ĂĐŚŝĞǀĞĚĂŶ aggregate income of ` 19,943.20 crore compared to previous year’s ` 18,350.54 ĐƌŽƌĞ͘WƌŽĮƚďĞĨŽƌĞƚĂdž is ` 3,833.45 crore in 2012-13 as compared to ` 5,188.60 crore in ϮϬϭϭͲϭϮ͘WƌŽĮƚĂŌĞƌƚĂdž is ` 2,911.62 crore in 2012-13 as compared to ` 4,002.26 crore in 2011-12. The Reserves and Surplus have touched ` 21,158.78 crore.

To The Members, Your Directors are pleased to present the 34th Annual Report together with the Statement of Accounts for the year ended on 31st March, 2013.

AUDITED FINANCIAL RESULTS (` in Crore) ^ƚĂŶĚĂůŽŶĞ ŽŶƐŽůŝĚĂƚĞĚ &ŝŶĂŶĐŝĂůzĞĂƌ Financial Year &ŝŶĂŶĐŝĂůzĞĂƌ Financial Year WĂƌƟĐƵůĂƌƐ ended 31st ended 31st ended 31st ended 31st DĂƌĐŚ͕ϮϬϭϯ March, 2012 DĂƌĐŚ͕ϮϬϭϯ March, 2012 Sales & other income 15,113.98 13,518.43 19,943.20 18,350.54 WƌŽĮƚďĞĨŽƌĞĮŶĂŶĐĞ 4,097.73 4,246.97 6,130.83 6,935.11 ĐŽƐƚĂŶĚĚĞƉƌĞĐŝĂƟŽŶ WƌŽĮƚďĞĨŽƌĞƚĂdž 2,228.50 2,843.01 3,833.45 5,188.60 WƌŽĮƚĂŌĞƌƚĂdž 1,592.55 2,110.65 2,911.62 4,002.26 ƉƉƌŽƉƌŝĂƟŽŶƐ͗ Interim dividend - - 4.82 4.82 Final dividend 149.57 149.46 149.57 149.46 ŽƌƉŽƌĂƚĞƚĂdžŽŶ 3.32 3.15 25.20 25.03 dividend General reserve 175.00 220. 00 175.00 222.54

78 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Directors’ Report

DIVIDEND ĮŶĞƐĂƐĂŐĂŝŶƐƚϮ͘ϰϱůĂĐƐDdŝŶƚŚĞƉƌĞǀŝŽƵƐLJĞĂƌ͘ Your Directors recommend a dividend of ` 1.60 per zKhZ ŽĂů ƉƌŽĚƵĐƟŽŶ Ăƚ ĐĂƉƟǀĞ ŵŝŶĞ ǁĂƐ ϱϵ͘ϵϵ ůĂĐƐ equity share of `ϭͬͲĞĂĐŚŝ͘ĞϭϲϬйĨŽƌƚŚĞĮŶĂŶĐŝĂů “DIRECTORS Dd͕ĂƐĂŐĂŝŶƐƚƉƌĞǀŝŽƵƐLJĞĂƌ͛ƐƉƌŽĚƵĐƟŽŶŽĨϱϵ͘ϵϴ year 2012-13. The total dividend pay-out for the recommend a dividend lacs MT. year will amount to ` ϭϰϵ͘ϱϳ ĐƌŽƌĞ ;ĞdžĐůƵĚŝŶŐ of ` 1.60 per equity ĚŝǀŝĚĞŶĚƚĂdžͿ͘ share of ` 1/- each i.e PROJECTS UNDER IMPLEMENTATION ϭϲϬйĨŽƌƚŚĞĮŶĂŶĐŝĂů ϭ͘ ^ƚĞĞůWůĂŶƚĂƚŶŐƵů͕KĚŝƐŚĂ year 2012-13. The total OPERATIONAL REVIEW  dŚĞŽŵƉĂŶLJŝƐƐĞƫŶŐƵƉϲDdW/ŶƚĞŐƌĂƚĞĚ dividend pay-out for the dŚĞ ŽŵƉĂŶLJ ŚĂƐ͕ ŽŶ Ă ĐŽŶƐŽůŝĚĂƚĞĚ ďĂƐŝƐ͕ Steel Plant at Angul in the state of Odisha. year will amount to achieved an aggregate income of ` 19,943.20 crore ƚ ƉƌĞƐĞŶƚ ĨŽůůŽǁŝŶŐ ĨĂĐŝůŝƟĞƐ ĂƌĞ ƵŶĚĞƌ ` ` 149.57 crore compared to previous year’s 18,350.54 crore. ŝŵƉůĞŵĞŶƚĂƟŽŶ͗ WƌŽĮƚďĞĨŽƌĞƚĂdžŝƐ` 3,833.45 crore in 2012-13 as ;ĞdžĐůƵĚŝŶŐĚŝǀŝĚĞŶĚƚĂdžͿ͘ compared to ` ϱ͕ϭϴϴ͘ϲϬ ĐƌŽƌĞ ŝŶ ϮϬϭϭͲϭϮ͘ WƌŽĮƚ 1.1) Coal Washery (6 MTPA ROM) ` 2,911.62 crore in 2012-13 as compared ĂŌĞƌƚĂdžŝƐ ϭ͘ϮͿ Z/ WůĂŶƚ ďĂƐĞĚ ŽŶ ŽĂů 'ĂƐŝĮĐĂƟŽŶ to ` 4,002.26 crore in 2011-12. The Reserves and (1.8 MTPA) Surplus have touched ` 21,158.78 crore. ϭ͘ϯͿ ŽĂů'ĂƐŝĮĐĂƟŽŶWůĂŶƚ;ϮϮϱ͕ϬϬϬEŵ3/hr) ^ƉŽŶŐĞ/ƌŽŶ The Company produced 13,19,976 tonnes of ϭ͘ϰͿ ^ƚĞĞů DĞůƟŶŐ ^ŚŽƉ ŝŶĐůƵĚŝŶŐ ϭdžϮϱϬ d Sponge Iron during the year under report as against EAF and ladle furnance, RH Degasser ƉƌĞǀŝŽƵƐ LJĞĂƌ͛Ɛ ƉƌŽĚƵĐƟŽŶ ŽĨ ϭϯ͕ϭϵ͕ϵϰϬ ƚŽŶŶĞƐ ĂŶĚŽƚŚĞƌĂƐƐŽĐŝĂƚĞĚĨĂĐŝůŝƟĞƐĂůŽŶŐǁŝƚŚ ĂŶĚĂĐŚŝĞǀĞĚĂĐĂƉĂĐŝƚLJƵƟůŝƐĂƟŽŶŽĨĂďŽƵƚϵϳй͘ ϮϯϬϬDDǁŝĚĞ^ůĂďĂƐƚĞƌ ^ƚĞĞů 1.5) Plate Mill (1.5 MTPA) dŚĞƉƌŽĚƵĐƟŽŶŽĨƐƚĞĞůƉƌŽĚƵĐƚƐĚƵƌŝŶŐƚŚĞLJĞĂƌ ϭ͘ϲͿ ĂƉƟǀĞWŽǁĞƌWůĂŶƚ;ϲdžϭϯϱDtͿ under report, compared to previous year is given 1.7) >ŝŵĞΘŽůŽŵŝƚĞWůĂŶƚ;ϮdžϱϬϬƚŽŶŶĞƐͬĚĂLJͿ ďĞůŽǁ͗ ϭ͘ϴͿ KdžLJŐĞŶWůĂŶƚ;ϮdžϭϮϬϬƚŽŶŶĞƐͬĚĂLJͿ ^ů͘ WƌŽĚƵĐƚ WƌŽĚƵĐƟŽŶŝŶDdƐ  KƵƚ ŽĨ ƚŚĞ ĂďŽǀĞ ĨĂĐŝůŝƟĞƐ͕ ƚŚĞ WůĂƚĞ Dŝůů ŝƐ E Ž ͘  ;ϮϬϭϮͲϭϯͿ (2011-12) ĐƵƌƌĞŶƚůLJƵŶĚĞƌŽƉĞƌĂƟŽŶĂŶĚϰƵŶŝƚƐŽĨϭϯϱ 1 Finished steel 21,43,750 18,32,261 DtĞĂĐŚŚĂǀĞďĞĞŶĐŽŵŵŝƐƐŝŽŶĞĚ͘ůůŽƚŚĞƌ products ĨĂĐŝůŝƟĞƐ ŝŶĐůƵĚŝŶŐ ŝŶƚĂŬĞ ƉƵŵƉ ŚŽƵƐĞ ǁŝƚŚ 2 Semi steel 30,23,974 27,59,126 ĂďŽƵƚ Ϯϵ͘ϱ <͘D͘ ůĞŶŐƚŚ ĐƌŽƐƐ ĐŽƵŶƚƌLJ ǁĂƚĞƌ products pipeline, raw water reservoir, raw material handling system and housing colony are WĞůůĞƚ ƵŶĚĞƌĂĚǀĂŶĐĞĚƐƚĂŐĞŽĨŝŵƉůĞŵĞŶƚĂƟŽŶĂŶĚ The Company produced 40,42,025 MT of pellets ǁŝůůďĞĐŽŵƉůĞƚĞĚĚƵƌŝŶŐƚŚĞĐƵƌƌĞŶƚĮŶĂŶĐŝĂů during the year under report as against 37,36,915 LJĞĂƌ͘ƉĂƌƚĨƌŽŵĂďŽǀĞĨĂĐŝůŝƟĞƐĞĂŵǁĞůĚŝŶŐ MT in the previous year. ƉůĂŶƚŝƐĨĂďƌŝĐĂƟŶŐďĞĂŵƐĂŶĚƐƚƌƵĐƚƵƌĞƐ͘ WŽǁĞƌ   ĨƵĞů ƐƵƉƉůLJ ĂŐƌĞĞŵĞŶƚ ŚĂƐ ďĞĞŶ ƐŝŐŶĞĚ The Company generated 6,028 million Kwh of with Mahanadi Coal Fields Limited (MCFL) for power during the year under report as against last supply of Coal to power plant. This agreement year’s 4,725 million Kwh of power registering an is valid for 5 years. increase of 28%  ƐĂƉĂƌƚŽĨĐƵƌƌĞŶƚĞdžƉĂŶƐŝŽŶƚŽƌĞĂĐŚƉůĂŶƚ ZĂŝƉƵƌhŶŝƚ ĐĂƉĂĐŝƚLJŽĨϲDdW͕ƚŚĞĨŽůůŽǁŝŶŐĂĚĚŝƟŽŶĂů ZĂŝƉƵƌhŶŝƚƉƌŽĚƵĐĞĚϭ͕ϵϯϯDdŽĨĐĂƐƟŶŐƐĂŶĚŚĂƐ ĨĂĐŝůŝƟĞƐŚĂǀĞďĞĞŶƉůĂŶŶĞĚĂƚŶŐƵů͗ done machining of 12,510 MT as against 2,525 MT ϭ͘ϭͿ ŽŬĞDĂŬŝŶŐWůĂŶƚ;Ϯ͘ϬDdWͿ ĂŶĚϵ͕ϬϲϬDdƌĞƐƉĞĐƟǀĞůLJŝŶƚŚĞƉƌĞǀŝŽƵƐLJĞĂƌ͘ 1.2) Sinter Plant (4.0 MTPA) DŝŶŝŶŐ 1.3) Pellet Plant (5.0 MTPA) dŚĞ ƉƌŽĚƵĐƟŽŶ ŽĨ ĐĂůŝďƌĂƚĞĚ ŝƌŽŶ ŽƌĞ Ăƚ ĐĂƉƟǀĞ mine at Tensa in Odisha was 5.64 lacs MT as ϭ͘ϰͿ ůĂƐƚ&ƵƌŶĂĐĞ;ϯ͘ϮDdWͿ ĂŐĂŝŶƐƚƉƌĞǀŝŽƵƐLJĞĂƌ͛ƐƉƌŽĚƵĐƟŽŶŽĨϱ͘ϬϲůĂĐƐDd͘ ϭ͘ϱͿ Z/ WůĂŶƚ ďĂƐĞĚ ŽŶ ĐŽŬĞ ŽǀĞŶ ŐĂƐ Θ dŚĞŽŵƉĂŶLJŚĂƐĞdžƉŽƌƚĞĚϬ͘ϱϭůĂĐƐDdŽĨŝƌŽŶŽƌĞ synthesis gas (2.0 MTPA)

79 Annual Report 2012-13 ϭ͘ϲͿ ^ƚĞĞůDĞůƟŶŐ^ŚŽƉ;ϰ͘ϯϲDdWͿ ŽŶƚƌŽů ŽĂƌĚ͕ :ŚĂƌŬŚĂŶĚ ŚĂƐ ŝƐƐƵĞĚ ĐŽŶƐĞŶƚ ƚŽ ĞƐƚĂďůŝƐŚ ĨŽƌ ƐĞƫŶŐ ƵƉ ŽĨ ƚŚĞ ƐĂŝĚ ƐƚĞĞů ƉůĂŶƚ͘ ƌƌĂŶŐĞŵĞŶƚƐ ĨŽƌ 1.7) Rolling Mills (4.225 MTPA) ǁĂƚĞƌƐƵƉƉůLJŚĂǀĞĂůƌĞĂĚLJďĞĞŶŵĂĚĞ͘dŚĞŽŵƉĂŶLJŚĂƐ ϭ͘ϴͿ ϭdžϴ^ƚƌĂŶĚŝůůĞƚĂƐƚĞƌ ƐŝŐŶĞĚ ĂŶ ĂŐƌĞĞŵĞŶƚ ǁŝƚŚ 'ŽǀĞƌŶŵĞŶƚ ŽĨ :ŚĂƌŬŚĂŶĚ ĨŽƌ ƐƵƉƉůLJŽĨϲϲ͘ϱϰŵĐŵŽĨǁĂƚĞƌĨƌŽŵĂŵŽĚĂƌĂƐŝŶĨŽƌƚŚĞ 1.9) Lime & Dolomite Plant (1,800 tonnes/day) ƉůĂŶƚ ĂŶĚ ŚĂƐ ĂůƐŽ ƌĞŶĞǁĞĚ ĂŐƌĞĞŵĞŶƚ ǁŝƚŚ :ŚĂƌŬŚĂŶĚ ϭ͘ϭϬͿKdžLJŐĞŶWůĂŶƚ;Ϯdžϭ͕ϴϬϬƚŽŶŶĞƐͬĚĂLJͿ ^ƚĂƚĞůĞĐƚƌŝĐŝƚLJŽĂƌĚĨŽƌƐƵƉƉůLJŽĨϮϬĐƵƐĞĐƐŽĨǁĂƚĞƌ͘dŚĞ Company has acquired 1,237 acres of land and process is  dĞĐŚŶŽůŽŐLJ ƐƵƉƉůŝĞƌƐ ĨŽƌ ^ŝŶƚĞƌ WůĂŶƚ ;ϰ͘Ϭ DdWͿ͕ ůĂƐƚ on for acquiring remaining land for the project. The cut & &ƵƌŶĂĐĞ ;ϯ͘Ϯ DdWͿ͕ Z/ WůĂŶƚ ;Ϯ͘Ϭ DdWͿ͕ ^ƚĞĞů DĞůƟŶŐ ďĞŶĚƉůĂŶƚĂŶĚĞůĐƚƌŽǁĞůĚŵĞƐŚƉůĂŶƚƐƚĂƌƚĞĚŽƉĞƌĂƟŽŶƐ ^ŚŽƉ ;ϰ͘ϯϲ DdWͿ ĂŶĚ ŽŬĞ DĂŬŝŶŐ WůĂŶƚ ;Ϯ͘Ϭ DdWͿ during the year under report and are adding value to the ŚĂǀĞ ďĞĞŶ ĮŶĂůŝƐĞĚ ĂŶĚ ƚŚĞ ƌĞŵĂŝŶŝŶŐ ƉĂĐŬĂŐĞƐ ĂƌĞ ĞdžŝƐƟŶŐƉƌŽĚƵĐƚůŝŶĞ͘ ƵŶĚĞƌ ĂĚǀĂŶĐĞĚ ƐƚĂŐĞ ŽĨ ĮŶĂůŝƐĂƟŽŶ͘ /ŶĨƌĂƐƚƌƵĐƚƵƌĞ ĚĞǀĞůŽƉŵĞŶƚĂŶĚƉƌĞƉĂƌĂƚŽƌLJǁŽƌŬĂƚƚŚĞƐŝƚĞĂƌĞƵŶĚĞƌ ϯ͘ ^ƚĞĞůWůĂŶƚ͕ZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ ƉƌŽŐƌĞƐƐ͘ŽŵƉůĞƟŽŶŽĨĞdžƉĂŶƐŝŽŶƉůĂŶŝƐƐůĂƚĞĚĨŽƌϮϬϭϲ͘  dŚĞ ŽŵƉĂŶLJ ŝƐ ĞŶǀŝƐĂŐŝŶŐ ĞŶŚĂŶĐŝŶŐ ƚŚĞ ƐƚĞĞůŵĂŬŝŶŐ Ministry of Environment & Forests, Govt. of India has ĐĂƉĂĐŝƚLJ Ăƚ ZĂŝŐĂƌŚ tŽƌŬƐ ĨƌŽŵ ϯ DdW ƚŽ ϭϬ DdW͘ ŝƐƐƵĞĚĞŶǀŝƌŽŶŵĞŶƚĂůĐůĞĂƌĂŶĐĞĂŶĚKĚŝƐŚĂ^ƚĂƚĞWŽůůƵƟŽŶ DĞŵŽƌĂŶĚĂŽĨƵŶĚĞƌƐƚĂŶĚŝŶŐ;DKhͿŚĂƐďĞĞŶĞŶƚĞƌĞĚǁŝƚŚ ŽŶƚƌŽůŽĂƌĚŚĂƐŝƐƐƵĞĚƚŚĞĐŽŶƐĞŶƚƚŽĞƐƚĂďůŝƐŚĨŽƌƐĞƫŶŐ ƚŚĞ ^ƚĂƚĞ 'ŽǀĞƌŶŵĞŶƚ ŽĨ ŚŚĂƫƐŐĂƌŚ ŝŶ ƚĞƌŵƐ ŽĨ ǁŚŝĐŚ ƵƉ ŽĨ ƚŚĞ ĂďŽǀĞ ƐĂŝĚ ƐƚĞĞů ƉůĂŶƚ͘ ĞƉĂƌƚŵĞŶƚ ŽĨ tĂƚĞƌ ƚŚĞ 'ŽǀĞƌŶŵĞŶƚ ǁŝůů ĞdžƚĞŶĚ ŶĞĐĞƐƐĂƌLJ ĂƐƐŝƐƚĂŶĐĞ ƚŽ ƚŚĞ Resources, Government of Odisha has given permission for ŽŵƉĂŶLJŝŶĞdžƉĞĚŝƟŽƵƐůLJŽďƚĂŝŶŝŶŐǀĂƌŝŽƵƐĂƉƉƌŽǀĂůƐ͕ĐŽĂů ĚƌĂǁŝŶŐŽĨϵϱ͘ϭϲĐƵƐĞĐƐŽĨǁĂƚĞƌĨƌŽŵƌŝǀĞƌƌĂŵŚĂŶŝĨŽƌ ĂŶĚŝƌŽŶŽƌĞůŝŶŬĂŐĞƐ͕ĞŶǀŝƌŽŶŵĞŶƚĂůĐůĞĂƌĂŶĐĞƐ͕ĂĐƋƵŝƐŝƟŽŶ the plant. ŽĨůĂŶĚĞƚĐ͘ĨŽƌŝŵƉůĞŵĞŶƟŶŐƚŚĞƐĂŝĚĞdžƉĂŶƐŝŽŶƉůĂŶ͘ Ϯ͘ ^ƚĞĞůWůĂŶƚĂƚWĂƚƌĂƚƵ͕:ŚĂƌŬŚĂŶĚ  tŝƚŚĂǀŝĞǁƚŽĂĐŚŝĞǀĞŽƉƟŵƵŵƉĞƌĨŽƌŵĂŶĐĞ͕ƚŚĞĨŽůůŽǁŝŶŐ  dŚĞ ŽŵƉĂŶLJ ĞŶǀŝƐĂŐĞƐ ƐĞƫŶŐ ƵƉ ŽĨ ϲ DdW ŝŶƚĞŐƌĂƚĞĚ ĞdžŝƐƟŶŐĨĂĐŝůŝƟĞƐĂƌĞďĞŝŶŐƌĞǀĂŵƉĞĚͬŵŽĚĞƌŶŝƐĞĚ͗Ͳ ^ƚĞĞůWůĂŶƚĂƚWĂƚƌĂƚƵŝŶƚŚĞƐƚĂƚĞŽĨ:ŚĂƌŬŚĂŶĚĂŶĚŝŶŝƚƐ ϯ͘ϭͿ DŝŶŝ ůĂƐƚ &ƵƌŶĂĐĞ ŝƐ ďĞŝŶŐ ŵŽĚĞƌŶŝƐĞĚ͘ KƌĚĞƌ ŚĂƐ ĮƌƐƚƉŚĂƐĞŝƐŝŵƉůĞŵĞŶƟŶŐϯDdW^ƚĞĞůWůĂŶƚ͘ ďĞĞŶ ƉůĂĐĞĚ ŽŶ ^D͕ ŚŝŶĂ͘ ĂƐŝĐ ĞŶŐŝŶĞĞƌŝŶŐ ŚĂƐ Ministry of Environment & Forests, Government of India ďĞĞŶ ĐŽŵƉůĞƚĞĚ ĂŶĚ Đŝǀŝů ǁŽƌŬ ŝƐ ƵŶĚĞƌ ƉƌŽŐƌĞƐƐ͘ ŚĂƐŝƐƐƵĞĚĞŶǀŝƌŽŶŵĞŶƚĂůĐůĞĂƌĂŶĐĞĂŶĚƚŚĞ^ƚĂƚĞWŽůůƵƟŽŶ dŚŝƐ ǁŝůů ŝŶĐƌĞĂƐĞ ƚŚĞ ŚŽƚ ŵĞƚĂů ƉƌŽĚƵĐƟŽŶ ĨƌŽŵ

80 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Directors’ Report

d,KDWEz ĞŶǀŝƐĂŐĞƐƐĞƫŶŐƵƉŽĨϲDdWŝŶƚĞŐƌĂƚĞĚ “^ƚĞĞůWůĂŶƚĂƚWĂƚƌĂƚƵŝŶƚŚĞƐƚĂƚĞŽĨ:ŚĂƌŬŚĂŶĚĂŶĚŝŶŝƚƐĮƌƐƚƉŚĂƐĞŝƐ ŝŵƉůĞŵĞŶƟŶŐϯDdW^ƚĞĞůWůĂŶƚ͘

ĂŶĚƉƌŽƉƌŝĞƚĂƌLJĞƋƵŝƉŵĞŶƚƐŚĂǀĞďĞĞŶŽƌĚĞƌĞĚ͘dŚŝƐƉƌŽũĞĐƚ ŝƐƵŶĚĞƌĂĚǀĂŶĐĞĚƐƚĂŐĞŽĨŝŵƉůĞŵĞŶƚĂƟŽŶĂŶĚŝƐĞdžƉĞĐƚĞĚƚŽ ďĞĐŽŵŵŝƐƐŝŽŶĞĚďLJĞĐĞŵďĞƌ͕ϮϬϭϯ͘dŚĞƉĞůůĞƟƐĂƟŽŶǁŝůůďĞ ĂǀĂůƵĞĂĚĚĞĚƉƌŽĐĞƐƐŽĨŝƌŽŶŽƌĞĮŶĞƐĂŶĚďĞƩĞƌƵƟůŝƐĂƟŽŶŽĨ ƉŽǁĚĞƌLJŽƌĞĂǀĂŝůĂďůĞŝŶƚŚĞŵŝŶĞƐ͘dŚĞŽŵƉĂŶLJŚĂƐĂůƌĞĂĚLJ received water approval, environmental clearance and consent ƚŽĞƐƚĂďůŝƐŚĨŽƌƐĞƫŶŐƵƉϭϬDdWWĞůůĞƚƉůĂŶƚĂƚĂƌďŝů͘ ϱ͘ DĂĐŚŝŶĞƌLJŝǀŝƐŝŽŶ͕ZĂŝƉƵƌ  dŚĞ ƉƌŽĚƵĐƟŽŶ ĐĂƉĂĐŝƚLJ ŽĨ DĂĐŚŝŶĞƌLJ ŝǀŝƐŝŽŶ Ăƚ ZĂŝƉƵƌ hŶŝƚŝƐďĞŝŶŐĞŶŚĂŶĐĞĚďLJŵĂŬŝŶŐŝŶǀĞƐƚŵĞŶƚŝŶŵĂĐŚŝŶĞ ƚŽŽůƐ͕ ůĨĂ ^Ğƚ ^ĂŶĚ ^LJƐƚĞŵ ŝŶ ĨŽƵŶĚƌLJ͕ ĞdžƉĂŶƐŝŽŶ ŽĨ covered area and material handling equipments. The ŝǀŝƐŝŽŶŚĂƐĂůƐŽŽďƚĂŝŶĞĚĐĞƌƟĮĐĂƟŽŶĨŽƌ ŵĂŶƵĨĂĐƚƵƌŝŶŐ ŶŽŶͲĐƌLJŽŐĞŶŝĐ ƚĂŶŬƐ ĨƌŽŵ ŚŝĞĨ ŽŶƚƌŽůůĞƌ ŽĨ džƉůŽƐŝǀĞ ;KͿ͘ dŚĞ ŝǀŝƐŝŽŶ ŝƐ ĞŶǀŝƐĂŐŝŶŐ ĨƵƌƚŚĞƌ ĞdžƉĂŶƐŝŽŶ ŽĨ ŝƚƐ ĐĂƉĂďŝůŝƚLJ ďLJ ŝŶĐůƵƐŝŽŶ ŽĨ ŵŽƌĞ Kd ƌĂŶĞƐ ĂŶĚ ŚĂƐ ƉůĂŶŶĞĚ ƚŽ ŝŶƐƚĂůů ŶĞǁ ĞŶƚƌŝĨƵŐĂů ĂƐƟŶŐ DĂĐŚŝŶĞ ŝŶ &ŽƵŶĚƌLJ ĨŽƌ ĨƵƌƚŚĞƌ ĚĞǀĞůŽƉŵĞŶƚ ŝŶ ƉƌŽĚƵĐƚ ĐĂƉĂďŝůŝƚLJ and quality. The Crane Manufacturing Unit has started 1,300 tonnes per day to 2,000 tonnes per day. ŝƚƐŽƉĞƌĂƟŽŶƐ͘ ϯ͘ϮͿ džŝƐƟŶŐ ůĞĐƚƌŝĐ ƌĐ &ƵƌŶĂĐĞ ŽĨ ^D^ Ϯ ŝƐ ďĞŝŶŐ ϲ͘ ^ŚĂĚĞĞĚ/ƌŽŶΘ^ƚĞĞů͕KŵĂŶ ƌĞǀĂŵƉĞĚ͘ KƌĚĞƌ ŚĂƐ ďĞĞŶ ƉůĂĐĞĚ ĂŶĚ ĚĞƚĂŝůĞĚ  ^ŚĂĚĞĞĚ/ƌŽŶΘ^ƚĞĞůŽ͘>>͕KŵĂŶ͕ĂƐƵďƐŝĚŝĂƌLJĐŽŵƉĂŶLJ engineering is under discussion. ŽƉĞƌĂƟŶŐϭ͘ϱDdW,ŽƚƌŝƋƵĞƩĞ/ƌŽŶŽƌĞWůĂŶƚĂƚ^ŽŚĂƌ͕ ϯ͘ϯͿ ^ůĂďĂƐƚĞƌƵƉŐƌĂĚĂƟŽŶŝƐďĞŝŶŐĚŽŶĞƚŽŝŶĐƌĞĂƐĞƚŚĞ KŵĂŶŝƐŝŵƉůĞŵĞŶƟŶŐϮDdW^ƚĞĞůDĞůƟŶŐ^ŚŽƉĂƚŝƚƐ ǁŝĚƚŚ ŽĨ ƚŚĞ ƐůĂďƐ ;ƵƉƚŽ ϯ͕ϬϬϬ ŵŵͿ͘ dŚĞ ŽƌĚĞƌ ŚĂƐ ĞdžŝƐƟŶŐǁŽƌŬƐ͘DͬƐĂŶŝĞůŝ͕/ƚĂůLJŚĂƐďĞĞŶĮŶĂůŝƐĞĚĂƐƚŚĞ ďĞĞŶĮŶĂůŝƐĞĚ͕ďĂƐŝĐĞŶŐŝŶĞĞƌŝŶŐŚĂƐďĞĞŶĐŽŵƉůĞƚĞĚ ƚĞĐŚŶŽůŽŐLJ͘DͬƐ/ĚŽŵ͕Ă^ƉĂŶŝƐŚĮƌŵŚĂƐďĞĞŶĮŶĂůŝƐĞĚĂƐ ĂŶĚ Đŝǀŝů ǁŽƌŬ ŚĂƐ ĂůƐŽ ďĞĞŶ ƐƚĂƌƚĞĚ͘ dŚŝƐ ǁŝůů ŚĞůƉ the Engineering Consultant for the project. The project is in rolling the increased width of plates from the ƵŶĚĞƌĂĚǀĂŶĐĞƐƚĂŐĞŽĨŝŵƉůĞŵĞŶƚĂƟŽŶĂŶĚŝƐĞdžƉĞĐƚĞĚƚŽ Plate Mill. ďĞĐŽŵŵŝƐƐŝŽŶĞĚďLJƚŚĞĞŶĚŽĨĐƵƌƌĞŶƚĮŶĂŶĐŝĂůLJĞĂƌ͘/ƚŝƐ ϯ͘ϰͿ ŽŬŝŶŐ ŽĂů ǁĂƐŚĞƌLJ ŽĨ ϭ DdWŝƐ ďĞŝŶŐ ƵƉŐƌĂĚĞĚͬ ĂůƐŽĞŶǀŝƐĂŐĞĚƚŽƐĞƚƵƉĂůŽŶŐƉƌŽĚƵĐƚŵŝůů;ĂƌDŝůůͿŽĨϭ͘ϱ ŵŽĚĞƌŶŝƐĞĚ͘ DŽĚĞƌŶŝƐĂƟŽŶ ǁŽƌŬ ŝƐ ĐƵƌƌĞŶƚůLJ ƵŶĚĞƌ DdWĐĂƉĂĐŝƚLJŝŶŽƌĚĞƌƚŽŵĂŬĞƚŚĞKŵĂŶǁŽƌŬƐĂƐĨƵůůLJ ŝŵƉůĞŵĞŶƚĂƟŽŶ͘ integrated steel plant. ϯ͘ϱͿ ^ŝŶƚĞƌWůĂŶƚĂƉĂĐŝƚLJŝƐďĞŝŶŐĞŶŚĂŶĐĞĚĂŶĚĂĐŽŶƚƌĂĐƚ ŚĂƐ ďĞĞŶ ĮŶĂůŝƐĞĚ ǁŝƚŚ KƵƚŽƚĞĐ͕ 'ĞƌŵĂŶLJ ĂŶĚ ƚŚĞ ^h^//ZzKDWE/^Ed,/Zh^/E^^ WƌŽũĞĐƚŝƐƵŶĚĞƌŝŵƉůĞŵĞŶƚĂƟŽŶ͘ :ŝŶĚĂůWŽǁĞƌ>ŝŵŝƚĞĚ;:W>Ϳ͕ŽƉĞƌĂƟŶŐϭ͕ϬϬϬDt;ϰyϮϱϬDtͿ ϯ͘ϲͿ ŽŶƚƌĂĐƚĨŽƌZĂŝů,ĞĂĚ,ĂƌĚĞŶŝŶŐĂƚZhDŚĂƐďĞĞŶ ƉŽǁĞƌƉůĂŶƚŝŶZĂŝŐĂƌŚ;ŚŚĂƫƐŐĂƌŚͿŚĂƐĐůŽƐĞĚĮŶĂŶĐŝĂůLJĞĂƌ ĮŶĂůŝƐĞĚ ǁŝƚŚ ^D^ DĞĞƌ͕ 'ĞƌŵĂŶLJ ĂŶĚ WƌŽũĞĐƚ ŝƐ 2012-13 with a total sales of ` 2,509.66 crore and earned a ƵŶĚĞƌŝŵƉůĞŵĞŶƚĂƟŽŶ͘ ƉƌŽĮƚĂŌĞƌƚĂdžŽĨ`ϭ͕ϭϭϮ͘ϴϳĐƌŽƌĞ͘:W>ŝƐĞdžƉĂŶĚŝŶŐŝƚƐƉŽǁĞƌ ϯ͘ϳͿ ŽŶƚƌĂĐƚĨŽƌ>ĞǀĞůůĞƌΘEŽƌŵĂůŝnjŝŶŐĨƵƌŶĂĐĞŝŶWůĂƚĞ ŐĞŶĞƌĂƟŽŶ ĐĂƉĂĐŝƚLJ ďLJ ƐĞƫŶŐ ƵƉ Ϯ͕ϰϬϬ Dt ;ϰ y ϲϬϬ DtͿ DŝůůŚĂƐďĞĞŶĮŶĂůŝƐĞĚǁŝƚŚ^WK͕:ĂƉĂŶŝǀŝůǁŽƌŬŚĂƐ ƉŽǁĞƌƉůĂŶƚĂĚũĂĐĞŶƚƚŽŝƚƐĞdžŝƐƟŶŐǁŽƌŬƐ͘:W>ĞŶǀŝƐĂŐĞƐƐĞƫŶŐ ďĞĞŶƐƚĂƌƚĞĚĂŶĚƉƌŽũĞĐƚŝƐƵŶĚĞƌŝŵƉůĞŵĞŶƚĂƟŽŶ͘ up hydro power projects in the State of Arunachal Pradesh ŝŶ :ŽŝŶƚ sĞŶƚƵƌĞ ǁŝƚŚ ,LJĚƌŽ WŽǁĞƌ ĞǀĞůŽƉŵĞŶƚ ŽƌƉŽƌĂƟŽŶ ϰ͘ WĞůůĞƚWůĂŶƚĂƚĂƌďŝů͕KĚŝƐŚĂ of Arunachal Pradesh Limited and thermal power projects in  dŚĞŽŵƉĂŶLJŝƐŽƉĞƌĂƟŶŐŝƌŽŶŽƌĞƉĞůůĞƚƉůĂŶƚǁŝƚŚĂĐĂƉĂĐŝƚLJ ƐƚĂƚĞƐŽĨ:ŚĂƌŬŚĂŶĚĂŶĚKĚŝƐŚĂŝŶ/ŶĚŝĂĂŶĚŝŶ^ĞŶĞŐĂůŝŶtĞƐƚ ŽĨϰ͘ϱDdWĂƚĂƌďŝů͕KĚŝƐŚĂĂŶĚŝƐĞdžƉĂŶĚŝŶŐŝƚƐĐĂƉĂĐŝƚLJƚŽ ĨƌŝĐĂ͘^ŚĂĚĞĞĚ/ƌŽŶΘ^ƚĞĞů>>͕KŵĂŶ͕ŽƉĞƌĂƟŶŐϭ͘ϱDdW,Žƚ ϵDdWďLJƐĞƫŶŐƵƉĂŶŽƚŚĞƌϰ͘ϱDdWŝƌŽŶŽƌĞƉĞůůĞƚƉůĂŶƚ ƌŝƋƵĞƩĞ/ƌŽŶŽƌĞƉůĂŶƚĂĐŚŝĞǀĞĚĂƐĂůĞƐŽĨ` 2,891.91 crore in the ǁŝƚŚǁĞƚŐƌŝŶĚŝŶŐƉƌŽĐĞƐƐƚŚĞƌĞĂƚĨŽƌǁŚŝĐŚďĂƐŝĐĞŶŐŝŶĞĞƌŝŶŐ ĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϮͲϭϯĂŶĚĞĂƌŶĞĚĂƉƌŽĮƚĂŌĞƌƚĂdžŽĨ` 379.87

81 Annual Report 2012-13 ĐƌŽƌĞ͘:ŝŶĚĂůDŝŶŝŶŐ^;WƚLJͿ>ŝŵŝƚĞĚ͕^ŽƵƚŚĨƌŝĐĂ͕ŽƉĞƌĂƟŶŐĐŽĂů ŽŵƉĂŶLJĨƌŽŵƚŚĞĐůŽƐĞŽĨďƵƐŝŶĞƐƐŚŽƵƌƐŽĨϰƚŚKĐƚŽďĞƌ͕ϮϬϭϮ͘ mine achieved a sales of `ϯϱϰ͘ϱϭĐƌŽƌĞŝŶĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϮͲϭϯ ^ŚƌŝsŝŬƌĂŶƚ'ƵũƌĂůĂŶĚ^ŚƌŝD͘>͘'ƵƉƚĂŚĂǀĞƌĞƐŝŐŶĞĚĨƌŽŵƚŚĞ ĂŶĚĞĂƌŶĞĚĂƉƌŽĮƚĂŌĞƌƚĂdžŽĨ` 10.05 crore. ŝƌĞĐƚŽƌƐŚŝƉĂŶĚtŚŽůĞƟŵĞŝƌĞĐƚŽƌƐŚŝƉŽĨƚŚĞŽŵƉĂŶLJĨƌŽŵ ƚŚĞĐůŽƐĞŽĨďƵƐŝŶĞƐƐŚŽƵƌƐŽĨϵƚŚEŽǀĞŵďĞƌ͕ϮϬϭϮ͘^Śƌŝ^ƵĚĞƌƐŚĂŶ dŚĞŽŵƉĂŶLJŝƐĞdžƉĂŶĚŝŶŐŝƚƐďƵƐŝŶĞƐƐĂĐƟǀŝƟĞƐĂĐƌŽƐƐƚŚĞŐůŽďĞ Kumar Garg and Shri Dinesh Kumar Saraogi were appointed as ƚŚƌŽƵŐŚ ŝƚƐ ƐƵďƐŝĚŝĂƌŝĞƐ ƚŽ ĞŶƐƵƌĞ ĂǀĂŝůĂďŝůŝƚLJ ŽĨ ŝƌŽŶ ŽƌĞ ĂŶĚ ĚĚŝƟŽŶĂů ŝƌĞĐƚŽƌƐ ďLJ ƚŚĞ ŽĂƌĚ ŝŶ ŝƚƐ ŵĞĞƟŶŐ ŚĞůĚ ŽŶ ϵƚŚ ĐŽĂůĨŽƌŝƚƐĨƵƚƵƌĞƌĞƋƵŝƌĞŵĞŶƚƐ͘dŚĞƐĞƐƵďƐŝĚŝĂƌŝĞƐŚĂǀĞƐĞƚƵƉͬ EŽǀĞŵďĞƌ͕ϮϬϭϮ͘^ŚƌŝŝŶĞƐŚ<ƵŵĂƌ^ĂƌĂŽŐŝ ǁĂƐ ĂƉƉŽŝŶƚĞĚ ĂƐ ĂƌĞŝŶƚŚĞƉƌŽĐĞƐƐŽĨƐĞƫŶŐƵƉďƵƐŝŶĞƐƐŝŶƚĞƌĞƐƚƐŝŶŽƚƐǁĂŶĂ͕ tŚŽůĞƟŵĞ ŝƌĞĐƚŽƌ ĨƌŽŵ ϵƚŚ EŽǀĞŵďĞƌ͕ ϮϬϭϮ͘ dŚĞ ŽŵƉĂŶLJ EĂŵŝďŝĂ͕>ŝďĞƌŝĂ͕DĂƵƌŝƚĂŶŝĂ͕ƵƐƚƌĂůŝĂĂŶĚ/ŶĚŽŶĞƐŝĂ͕ǁŚŝĐŚĂƌĞ ŚĂƐƌĞĐĞŝǀĞĚůĞƩĞƌƐŝŶƚĞƌŵƐŽĨ^ĞĐƟŽŶϮϱϳŽĨƚŚĞŽŵƉĂŶŝĞƐ rich in mineral resources. Act, 1956 from Shri Ravi Uppal, Shri Sudershan Kumar Garg and ^ŚƌŝŝŶĞƐŚ<ƵŵĂƌ^ĂƌĂŽŐŝ͕ĚĚŝƟŽŶĂůŝƌĞĐƚŽƌƐƐŝŐŶŝĨLJŝŶŐƚŚĞŝƌ TRANSFER TO INVESTOR EDUCATION AND candidature for appointment as Directors in forthcoming Annual PROTECTION FUND 'ĞŶĞƌĂůDĞĞƟŶŐ͘ WƵƌƐƵĂŶƚ ƚŽ ^ĞĐƟŽŶ ϮϬϱ ŽĨ ƚŚĞ ŽŵƉĂŶŝĞƐ Đƚ͕ ϭϵϱϲ͕ ƚŚĞ // ĂŶŬ >ŝŵŝƚĞĚ ŚĂƐ ǁŝƚŚĚƌĂǁŶ ŶŽŵŝŶĂƟŽŶ ŽĨ ^Śƌŝ /ŶĚĞƌƉĂů ŽŵƉĂŶLJŚĂƐƚƌĂŶƐĨĞƌƌĞĚƵŶƉĂŝĚͬƵŶĐůĂŝŵĞĚĮŶĂůĚŝǀŝĚĞŶĚĨŽƌ ^ŝŶŐŚ <ĂůƌĂ ĨƌŽŵ ƚŚĞ ŝƌĞĐƚŽƌƐŚŝƉ ĨƌŽŵ ƚŚĞ ĐůŽƐĞ ŽĨ ďƵƐŝŶĞƐƐ ĮŶĂŶĐŝĂů LJĞĂƌ ϮϬϬϰͲϬϱ ĂŶĚ ŝŶƚĞƌŝŵ ĚŝǀŝĚĞŶĚ ĨŽƌ ĮŶĂŶĐŝĂů LJĞĂƌ ŚŽƵƌƐŽŶϭϳƚŚ&ĞďƌƵĂƌLJ͕ϮϬϭϯĂŶĚŶŽŵŝŶĂƚĞĚ^ŚƌŝũŝƚD͘/ŶŐůĞ͘ ϮϬϬϱͲϬϲ ĂŵŽƵŶƟŶŐ ƚŽ ` Ϯϱ͕ϯϱ͕ϲϬϬͬͲ ;ZƵƉĞĞƐ ƚǁĞŶƚLJ ĮǀĞ ůĂĐ ^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂů͕^ŚƌŝZ͘s͘^ŚĂŚŝĂŶĚ^ŚƌŝƌƵŶ<ƵŵĂƌŝƌĞĐƚŽƌƐ ƚŚŝƌƚLJĮǀĞƚŚŽƵƐĂŶĚƐŝdžŚƵŶĚƌĞĚŽŶůLJͿĂŶĚ` 14,85,500 /- (Rupees ŽĨƚŚĞŽŵƉĂŶLJǁŝůůƌĞƟƌĞďLJƌŽƚĂƟŽŶĂƚƚŚĞĨŽƌƚŚĐŽŵŝŶŐŶŶƵĂů ĨŽƵƌƚĞĞŶůĂĐĞŝŐŚƚLJĮǀĞƚŚŽƵƐĂŶĚĮǀĞŚƵŶĚƌĞĚŽŶůLJͿƌĞƐƉĞĐƟǀĞůLJ ƚŽ /ŶǀĞƐƚŽƌ ĚƵĐĂƟŽŶ ĂŶĚ WƌŽƚĞĐƟŽŶ &ƵŶĚ ŽĨ 'ŽǀĞƌŶŵĞŶƚ ŽĨ India. Company has also transferred ` 10,662/- (Rupees ten ƚŚŽƵƐĂŶĚƐŝdžŚƵŶĚƌĞĚƐŝdžƚLJƚǁŽŽŶůLJͿŝŶƌĞƐƉĞĐƚŽĨĮdžĞĚĚĞƉŽƐŝƚƐ ŵĂƚƵƌĞĚďƵƚŶŽƚĐůĂŝŵĞĚĂŶĚ` 1,84,808/- (Rupees one lac eighty four thousand eight hundred eight only) in respect of unclaimed ŝŶƚĞƌĞƐƚŽŶĮdžĞĚĚĞƉŽƐŝƚƚŽƚŚĞƐĂŝĚĨƵŶĚ͘dŚĞĚĞƚĂŝůƐŝŶĐůƵĚŝŶŐ last date of claiming of unclaimed / unpaid dividend amount is ŐŝǀĞŶĂƚƚŚĞĞŶĚŽĨƚŚĞEŽƟĐĞŽĨƚŚĞŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐ͘

LISTING dŚĞĞƋƵŝƚLJƐŚĂƌĞƐĐŽŶƟŶƵĞƚŽďĞůŝƐƚĞĚŽŶƚŚĞ^>ŝŵŝƚĞĚ;^Ϳ ĂŶĚ ƚŚĞ EĂƟŽŶĂů ^ƚŽĐŬ džĐŚĂŶŐĞ ŽĨ /ŶĚŝĂ >ŝŵŝƚĞĚ ;E^Ϳ͘ ŽƚŚ ƚŚĞƐĞƐƚŽĐŬĞdžĐŚĂŶŐĞƐŚĂǀĞŶĂƟŽŶͲǁŝĚĞƚĞƌŵŝŶĂůƐĂŶĚƚŚĞƌĞĨŽƌĞ͕ ƐŚĂƌĞŚŽůĚĞƌƐͬ/ŶǀĞƐƚŽƌƐĂƌĞŶŽƚĨĂĐŝŶŐĂŶLJĚŝĸĐƵůƚLJŝŶƚƌĂĚŝŶŐ in the shares of the Company from any part of the country. The ŽŵƉĂŶLJŚĂƐƉĂŝĚĂŶŶƵĂůůŝƐƟŶŐĨĞĞĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϯͲ ϭϰƚŽ^ΘE^ĂŶĚĂŶŶƵĂůĐƵƐƚŽĚLJĨĞĞƚŽEĂƟŽŶĂů^ĞĐƵƌŝƟĞƐ Depository Limited and Central Depository Services (India) Limited.

FIXED DEPOSITS The Company has not accepted/received any fresh deposits during the year under report. The aggregate amount outstanding ŝŶƌĞƐƉĞĐƚŽĨĮdžĞĚĚĞƉŽƐŝƚƐĂƐŽŶϯϭƐƚDĂƌĐŚ͕ϮϬϭϯǁĂƐ` 5.94 ĐƌŽƌĞ ĂŐĂŝŶƐƚ ϭ͕Ϯϳϯ ĮdžĞĚ ĚĞƉŽƐŝƚ ŚŽůĚĞƌƐ͘ ŵŽƵŶƚ ŽĨ ĚĞƉŽƐŝƚƐ ƚŚĂƚŚĂǀĞŵĂƚƵƌĞĚďƵƚǁĞƌĞƵŶĐůĂŝŵĞĚĂƐŽŶϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ was `ϭ͘ϬϯĐƌŽƌĞƌĞƉƌĞƐĞŶƟŶŐϯϭϭĚĞƉŽƐŝƚŚŽůĚĞƌƐ͘^ŝŶĐĞƚŚĞŶϯϮ deposits totaling `ϭϭ͘ϱϵůĂĐƐŚĂǀĞďĞĞŶƉĂŝĚ͘

DIRECTORS Shri Ravi Uppal has joined the Company as Managing Director & KǁŝƚŚĞīĞĐƚĨƌŽŵϭƐƚKĐƚŽďĞƌ͕ϮϬϭϮĂŶĚ^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂů ŚĂƐƌĞƐŝŐŶĞĚĨƌŽŵƚŚĞƉŽƐŝƟŽŶŽĨDĂŶĂŐŝŶŐĚŝƌĞĐƚŽƌƐŚŝƉŽĨƚŚĞ ŽŵƉĂŶLJĨƌŽŵƚŚĞĐůŽƐĞŽĨďƵƐŝŶĞƐƐŚŽƵƌƐŽĨϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ ϮϬϭϮ ďƵƚ ŚĞ ǁŝůů ĐŽŶƟŶƵĞ ƚŽ ďĞ ŚĂŝƌŵĂŶ ŽĨ ƚŚĞ ŽŵƉĂŶLJ͘ Shri Rahul Mehra has resigned from the directorship of the

82 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Directors’ Report

'ĞŶĞƌĂůDĞĞƟŶŐĂŶĚďĞŝŶŐĞůŝŐŝďůĞŚĂǀĞŽīĞƌĞĚƚŚĞŵƐĞůǀĞƐĨŽƌ ĞƐƟŵĂƚĞƐƚŚĂƚĂƌĞƌĞĂƐŽŶĂďůĞĂŶĚƉƌƵĚĞŶƚƐŽĂƐƚŽŐŝǀĞĂ ƌĞͲĂƉƉŽŝŶƚŵĞŶƚĂƐŝƌĞĐƚŽƌƐŽĨƚŚĞŽŵƉĂŶLJ͕ůŝĂďůĞƚŽƌĞƟƌĞďLJ ƚƌƵĞ ĂŶĚ ĨĂŝƌ ǀŝĞǁ ŽĨ ƚŚĞ ƐƚĂƚĞ ŽĨ ĂīĂŝƌƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ƌŽƚĂƟŽŶ͕ŝŶƚŚĞƐĂŝĚŵĞĞƟŶŐ͘ Ăƚ ƚŚĞ ĞŶĚ ŽĨ ƚŚĞ ĮŶĂŶĐŝĂů LJĞĂƌ ĂŶĚ ŽĨ ƚŚĞ ƉƌŽĮƚ ŽĨ ƚŚĞ Company for the year under report. WZd/h>Z^ K& KE^Zsd/KE K& EZ'z͕ d,EK>K'z ^KZWd/KE E &KZ/'E ŝŝŝͿ ƚŚĂƚ ƚŚĞ ŝƌĞĐƚŽƌƐ ŚĂĚ ƚĂŬĞŶ ƉƌŽƉĞƌ ĂŶĚ ƐƵĸĐŝĞŶƚ ĐĂƌĞ EXCHANGE EARNINGS AND OUTGO ĨŽƌ ƚŚĞ ŵĂŝŶƚĞŶĂŶĐĞ ŽĨ ĂĚĞƋƵĂƚĞ ĂĐĐŽƵŶƟŶŐ ƌĞĐŽƌĚƐ ŝŶ accordance with the provisions of the Companies Act, /ŶĨŽƌŵĂƟŽŶƉƵƌƐƵĂŶƚƚŽ^ĞĐƟŽŶϮϭϳ;ϭͿ;ĞͿŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ ϭϵϱϲƌĞĂĚǁŝƚŚZƵůĞϮŽĨƚŚĞŽŵƉĂŶŝĞƐ;ŝƐĐůŽƐƵƌĞŽĨWĂƌƟĐƵůĂƌƐ ϭϵϱϲĨŽƌƐĂĨĞŐƵĂƌĚŝŶŐƚŚĞĂƐƐĞƚƐŽĨƚŚĞŽŵƉĂŶLJĂŶĚďLJ ŝŶ ƚŚĞ ZĞƉŽƌƚ ŽĨ ŽĂƌĚ ŽĨ ŝƌĞĐƚŽƌƐͿ ZƵůĞƐ͕ ϭϵϴϴ ƌĞŐĂƌĚŝŶŐ ƉƌĞǀĞŶƟŶŐĂŶĚĚĞƚĞĐƟŶŐĨƌĂƵĚĂŶĚŽƚŚĞƌŝƌƌĞŐƵůĂƌŝƟĞƐ͘ ĐŽŶƐĞƌǀĂƟŽŶ ŽĨ ĞŶĞƌŐLJ͕ ƚĞĐŚŶŽůŽŐLJ ĂďƐŽƌƉƟŽŶ ĂŶĚ ĨŽƌĞŝŐŶ iv) that the Directors had prepared the accounts for the ĞdžĐŚĂŶŐĞĞĂƌŶŝŶŐƐĂŶĚŽƵƚŐŽŝƐŐŝǀĞŶŝŶŶŶĞdžƵƌĞ/ĨŽƌŵŝŶŐƉĂƌƚ ĮŶĂŶĐŝĂů LJĞĂƌ ĞŶĚĞĚ ŽŶ ϯϭƐƚ DĂƌĐŚ͕ ϮϬϭϯ ŽŶ Ă ͚ŐŽŝŶŐ of this report. ĐŽŶĐĞƌŶďĂƐŝƐ͛͘

WZd/h>Z^K&DW>Kz^ APPRECIATION /ŶƚĞƌŵƐŽĨƚŚĞƉƌŽǀŝƐŝŽŶƐŽĨ^ĞĐƟŽŶϮϭϳ;ϮͿŽĨƚŚĞŽŵƉĂŶŝĞƐ zŽƵƌ ŝƌĞĐƚŽƌƐ ǁŝƐŚ ƚŽ ƉůĂĐĞ ŽŶ ƌĞĐŽƌĚ ƚŚĞŝƌ ŐƌĂƟƚƵĚĞ ĨŽƌ ƚŚĞ Đƚ͕ϭϵϱϲ͕ƌĞĂĚǁŝƚŚƚŚĞŽŵƉĂŶŝĞƐ;WĂƌƟĐƵůĂƌƐŽĨŵƉůŽLJĞĞƐͿ ǀĂůƵĂďůĞ ŐƵŝĚĂŶĐĞ ĂŶĚ ƐƵƉƉŽƌƚ ƌĞŶĚĞƌĞĚ ďLJ ƚŚĞ 'ŽǀĞƌŶŵĞŶƚ ZƵůĞƐ͕ ϭϵϳϱ ĂƐ ĂŵĞŶĚĞĚ ĨƌŽŵ ƟŵĞ ƚŽ ƟŵĞ͕ ƚŚĞ ƉĂƌƟĐƵůĂƌƐ ŽĨ of India, various State Government departments, Financial ĞŵƉůŽLJĞĞƐĂƌĞƐĞƚŽƵƚŝŶŶŶĞdžƵƌĞͲ//ƚŽƚŚŝƐZĞƉŽƌƚ͘,ŽǁĞǀĞƌ͕ĂƐ ƉĞƌƉƌŽǀŝƐŝŽŶƐŽĨ^ĞĐƟŽŶϮϭϵ;ϭͿ;ďͿ;ŝǀͿŽĨƚŚĞƐĂŝĚĐƚƌĞĂĚǁŝƚŚ /ŶƐƟƚƵƟŽŶƐ͕ ĂŶŬƐ ĂŶĚ ǀĂƌŝŽƵƐ ƐƚĂŬĞŚŽůĚĞƌƐ͕ ƐƵĐŚ ĂƐ͕ ůĂƵƐĞϯϮŽĨƚŚĞ>ŝƐƟŶŐŐƌĞĞŵĞŶƚ͕ƚŚĞŶŶƵĂůZĞƉŽƌƚĞdžĐůƵĚŝŶŐ shareholders, customers and suppliers, among others. The ƚŚĞĂĨŽƌĞƐĂŝĚŝŶĨŽƌŵĂƟŽŶŝƐďĞŝŶŐƐĞŶƚƚŽĂůůƚŚĞŵĞŵďĞƌƐŽĨƚŚĞ ŝƌĞĐƚŽƌƐ ĂůƐŽ ĐŽŵŵĞŶĚ ƚŚĞ ĐŽŶƟŶƵŝŶŐ ĐŽŵŵŝƚŵĞŶƚ ĂŶĚ ŽŵƉĂŶLJĂŶĚŽƚŚĞƌƐĞŶƟƚůĞĚƚŚĞƌĞƚŽ͘ŶLJŵĞŵďĞƌŝŶƚĞƌĞƐƚĞĚŝŶ ĚĞĚŝĐĂƟŽŶŽĨƚŚĞĞŵƉůŽLJĞĞƐĂƚĂůůůĞǀĞůƐ͕ǁŚŝĐŚŚĂƐďĞĞŶĐƌŝƟĐĂů ŽďƚĂŝŶŝŶŐƐƵĐŚƉĂƌƟĐƵůĂƌƐŵĂLJǁƌŝƚĞƚŽƚŚĞŽŵƉĂŶLJ͘ ĨŽƌƚŚĞŽŵƉĂŶLJ͛ƐƐƵĐĐĞƐƐ͘dŚĞŝƌĞĐƚŽƌƐůŽŽŬĨŽƌǁĂƌĚƚŽƚŚĞŝƌ ĐŽŶƟŶƵĞĚƐƵƉƉŽƌƚŝŶĨƵƚƵƌĞ͘ CORPORATE GOVERNANCE zŽƵƌ ŽŵƉĂŶLJ ŚĂƐ ŝŵƉůĞŵĞŶƚĞĚ ƚŚĞ ĐŽŶĚŝƟŽŶƐ ŽĨ ŽƌƉŽƌĂƚĞ 'ŽǀĞƌŶĂŶĐĞ ĂƐ ĐŽŶƚĂŝŶĞĚ ŝŶ ůĂƵƐĞ ϰϵ ŽĨ ůŝƐƟŶŐ ĂŐƌĞĞŵĞŶƚ͘ &ŽƌΘŽŶďĞŚĂůĨŽĨƚŚĞŽĂƌĚ Separate reports on Corporate Governance and Management ŝƐĐƵƐƐŝŽŶĂŶĚŶĂůLJƐŝƐĂůŽŶŐǁŝƚŚŶĞĐĞƐƐĂƌLJĐĞƌƟĮĐĂƚĞƐĂƌĞŐŝǀĞŶ ĞůƐĞǁŚĞƌĞŝŶƚŚŝƐŶŶƵĂůZĞƉŽƌƚĂƐŶŶĞdžƵƌĞ///Θ/s͘/ŶƚĞƌŵƐŽĨ ůĂƵƐĞϱϱŽĨůŝƐƟŶŐĂŐƌĞĞŵĞŶƚ͕ĂƵƐŝŶĞƐƐZĞƐƉŽŶƐŝďŝůŝƚLJZĞƉŽƌƚ ĚĞƐĐƌŝďŝŶŐŝŶŝƟĂƟǀĞƚĂŬĞŶďLJƚŚĞŽŵƉĂŶLJĨƌŽŵĞŶǀŝƌŽŶŵĞŶƚĂů͕ EĂǀĞĞŶ:ŝŶĚĂů ƐŽĐŝĂůĂŶĚŐŽǀĞƌŶĂŶĐĞƉĞƌƐƉĞĐƟǀĞŝƐĂůƐŽŝŶĐůƵĚĞĚĞůƐĞǁŚĞƌĞŝŶ WůĂĐĞ͗EĞǁĞůŚŝ Chairman ƚŚŝƐŶŶƵĂůZĞƉŽƌƚĂƐŶŶĞdžƵƌĞs͘ ĂƚĞĚ͗ϮϱƚŚƉƌŝů͕ϮϬϭϯ

AUDITORS DͬƐ ^͘^͘<ŽƚŚĂƌŝ DĞŚƚĂ Θ Ž͘ ;&ŝƌŵ ZĞŐŝƐƚƌĂƟŽŶ EƵŵďĞƌ ʹ ϬϬϬϬϳϱϲEͿ͕ ƵĚŝƚŽƌƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ŚŽůĚ ŽĸĐĞ ƵƉƚŽ ƚŚĞ ĐŽŶĐůƵƐŝŽŶ ŽĨ ƚŚĞ ĞŶƐƵŝŶŐ ŶŶƵĂů 'ĞŶĞƌĂů DĞĞƟŶŐ͘ dŚĞ ŽŵƉĂŶLJŚĂƐƌĞĐĞŝǀĞĚĐĞƌƟĮĐĂƚĞĨƌŽŵƚŚĞŵƚŽƚŚĞĞīĞĐƚƚŚĂƚ ƚŚĞŝƌĂƉƉŽŝŶƚŵĞŶƚ͕ŝĨŵĂĚĞ͕ǁŽƵůĚďĞǁŝƚŚŝŶƚŚĞůŝŵŝƚƐƉƌĞƐĐƌŝďĞĚ ƵŶĚĞƌ ^ĞĐƟŽŶ ϮϮϰ;ϭͿ ŽĨ ƚŚĞ ŽŵƉĂŶŝĞƐ Đƚ͕ ϭϵϱϲ͘ dŚĞLJ ĂƌĞ ƉƌŽƉŽƐĞĚƚŽďĞĂƉƉŽŝŶƚĞĚĂƐƵĚŝƚŽƌƐŽĨƚŚĞŽŵƉĂŶLJĨŽƌƚŚĞ ĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϯͲϭϰ͘

/ZdKZ^͛Z^WKE^//>/dz^ddDEd WƵƌƐƵĂŶƚƚŽƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐƵŶĚĞƌƐƵď^ĞĐƟŽŶϮŽĨ^ĞĐƟŽŶ 217 of the Companies Act, 1956, with respect to the Directors ZĞƐƉŽŶƐŝďŝůŝƚLJ^ƚĂƚĞŵĞŶƚ͕ŝƚŝƐŚĞƌĞďLJĐŽŶĮƌŵĞĚ͗Ͳ ŝͿ ƚŚĂƚŝŶƉƌĞƉĂƌĂƟŽŶŽĨƚŚĞĂŶŶƵĂůĂĐĐŽƵŶƚƐĨŽƌƚŚĞĮŶĂŶĐŝĂů LJĞĂƌĞŶĚĞĚŽŶϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ͕ƚŚĞĂƉƉůŝĐĂďůĞĂĐĐŽƵŶƟŶŐ ƐƚĂŶĚĂƌĚƐŚĂĚďĞĞŶĨŽůůŽǁĞĚĂůŽŶŐǁŝƚŚƉƌŽƉĞƌĞdžƉůĂŶĂƟŽŶƐ ƌĞůĂƟŶŐƚŽŵĂƚĞƌŝĂůĚĞƉĂƌƚƵƌĞƐ͘ ŝŝͿ ƚŚĂƚ ƚŚĞ ŝƌĞĐƚŽƌƐ ŚĂĚ ƐĞůĞĐƚĞĚ ƐƵĐŚ ĂĐĐŽƵŶƟŶŐ ƉŽůŝĐŝĞƐ and applied them consistently and made judgments and

83 Annual Report 2012-13 EEyhZ͵/ WĂƌƟĐƵůĂƌƐƌĞƋƵŝƌĞĚƵŶĚĞƌƚŚĞŽŵƉĂŶŝĞƐ;ŝƐĐůŽƐƵƌĞŽĨWĂƌƟĐƵůĂƌƐŝŶƚŚĞZĞƉŽƌƚŽĨŽĂƌĚŽĨŝƌĞĐƚŽƌƐͿZƵůĞƐ͕ϭϵϴϴ

͘ KE^Zsd/KEK&EZ'z ϰ͘ dŽŝŶĐƌĞĂƐĞŚŽƚďůĂƐƚƚĞŵƉĞƌĂƚƵƌĞďLJĞƌĂŵŝĐ ĐŽĂƟŶŐ ŽŶ ŝŶŶĞƌ ƐƵƌĨĂĐĞ ŽĨ ƚƵLJĞƌƐ ŝŶ ůĂƐƚ ĂͿ ŶĞƌŐLJĐŽŶƐĞƌǀĂƟŽŶŵĞĂƐƵƌĞƐƚĂŬĞŶ͗ Furnance-2. ϭ͘ /ŶƐƚĂůůĂƟŽŶŽĨĞďůĂĐůŝŐŚƚĞŶĞƌŐLJƐĂǀĞƌŽĨϭϱϬ ͛ƐŽĨ ϮΎϮϱDtƉŽǁĞƌƉůĂŶƚ͘ ϲ͘ ŽŵƉƌĞƐƐĞĚ Ăŝƌ ŽƉƟŵŝƐĂƟŽŶ ĂŶĚ ĂƌƌĞƐƟŶŐ Ăŝƌ ϯ͘ ^ĞŐƌĞŐĂƟŽŶ ŽĨ ĐŽŬĞ ƉƌŽĚƵĐƚƐ ďLJ ĐŽŬĞ ƌŽƵƚĞ ůĞĂŬĂŐĞŝŶDĞĚŝƵŵΘ>ŝŐŚƚ^ƚƌƵĐƚƵƌĞDŝůů͘ ŵŽĚŝĮĐĂƟŽŶŝŶĐŽŬĞŽǀĞŶƉůĂŶƚ͘ ϳ͘ KƉƟŵŝƐŝŶŐƐŽŌǁĂƚĞƌďŝůůĞƚĐĂƐƚĞƌƉƵŵƉŝŶ^ƚĞĞů ϰ͘ /ŶƐƚĂůůĂƟŽŶŽĨƐŽŌƐƚĂƌƚĞƌŝŶƋƵĞŶĐŚŝŶŐƉƵŵƉƐŝŶ DĞůƟŶŐ^ŚŽƉͲϯ͘ ĐŽŬĞŽǀĞŶƉůĂŶƚ͘ ϴ͘ ZĞĚƵĐƟŽŶŽĨƐĞĐŽŶĚĂƌLJǀŽůƚĂŐĞŽĨƚƌĂŶƐĨŽƌŵĞƌ ϱ͘ DŽĚŝĮĐĂƟŽŶ ŽĨ ǁŚĂƌĨ ĚŝƐĐŚĂƌŐĞ ŵĞĐŚĂŶŝƐŵ ŝŶ ŝŶ^ƚĞĞůDĞůƟŶŐ^ŚŽƉͲϯ͘ ĐŽŬĞŽǀĞŶƉůĂŶƚ͘ 9. VD hot well pump (P-7) to replace all three ϲ͘ ŚĂŶŐŝŶŐŽĨƌĂǁǁĂƚĞƌƉƵŵƉŵŽƚŽƌĨƌŽŵĞdžŝƐƟŶŐ ƉƵŵƉƐǁŝƚŚůŽǁĞƌŚĞĂĚΘŚŝŐŚĞĸĐŝĞŶĐLJƉƵŵƉƐ͘ 180 KW to 132 KW as per the requirement in ϭϬ͘ ƵƚŽƐƚŽƉŽĨD^ƉƵŵƉƐŽĨĐŽŵďŝĐĂƐƚĞƌĂŌĞƌ ůĂƐƚĨƵƌŶĂĐĞͲϮ͘ ĐĂƐƟŶŐƐƚŽƉƉĞĚ͘ ϳ͘ /ŶĐůƵĚŝŶŐ ǀĂƌŝĂďůĞ ǀŽůƚĂŐĞ ĂŶĚ ǀĂƌŝĂďůĞ ϭϭ͘ DŽĚŝĮĐĂƟŽŶŽĨĚŝĞƐĞůĮƌĞĚĂŶŶĞĂůŝŶŐĨƵƌŶĂŶĐĞ ĨƌĞƋƵĞŶĐLJ ĚƌŝǀĞ ŝŶ ƐƚŽĐŬ ŚŽƵƐĞ ǀŝďƌŽĨĞĞĚĞƌƐ from manual to auto control system. ;ϭϲŶŽƐͲϭϮyϭ͘ϲϳŬǁ Θ ϰyϮ͘ϲϳŬǁͿ ƚŽ ƌĞĚƵĐĞ ĞŶĞƌŐLJĐŽŶƐƵŵƉƟŽŶĂƚůĂƐƚ&ƵƌŶĂĐĞͲϭ͘ ĐͿ /ŵƉĂĐƚ ŽĨ ƚŚĞ ŵĞĂƐƵƌĞƐ Ăƚ ;ĂͿ ĂŶĚ ;ďͿ ĨŽƌ ϴ͘ KŶůŝŶĞEƵĐůĞŽŶŝĐDŽŝƐƚƵƌĞdƌĂŶƐŵŝƩĞƌŝŶŽŬĞ ƌĞĚƵĐƟŽŶ ŽĨ ĞŶĞƌŐLJ ĐŽŶƐƵŵƉƟŽŶ ĂŶĚ ƵŶŬĞƌƐ ĨŽƌ ƌĞĚƵĐƟŽŶ ŝŶ ĐŽŬĞ ĐŽŶƐƵŵƉƟŽŶ ŝŶ ĐŽŶƐĞƋƵĞŶƚŝŵƉĂĐƚŽŶƚŚĞĐŽƐƚŽĨƉƌŽĚƵĐƟŽŶ ƐƚŽĐŬŚŽƵƐĞŽĨůĂƐƚ&ƵƌŶĂĐĞͲϭ͘ ŽĨŐŽŽĚƐ͗ ϵ͘ hƐŝŶŐ ĞĸĐŝĞŶƚ dϱ ƚƵďĞ ůŝŐŚƚ ĮƫŶŐƐ ĂŶĚ &> 1. Electrical power saving of 44,347 KWh/ lamps in the plant and township. LJƌ ĂĐŚŝĞǀĞĚ ĚƵĞ ƚŽ ŝŶƐƚĂůůĂƟŽŶ ŽĨ ůŝŐŚƟŶŐ 10. Using VFD’s in Coal Feeders, Ash Coolers, Geho transformer. WƵŵƉ͕hůƚƌĂĮůƚĞƌWƵŵƉΘdƵƌŶŝŶŐ'ĞĂƌŵŽƚŽƌ͘ 2. Electrical power saving of 7,604 KWh/yr ϭϭ͘ /ŵƉůĞŵĞŶƚĞĚ ƉŽǁĞƌ ĨĂĐƚŽƌ ĐŽƌƌĞĐƟŽŶ Ăƚ ůŽĂĚ ĂĐŚŝĞǀĞĚĚƵĞƚŽŝŶƐƚĂůůĂƟŽŶŽĨůŝŐŚƟŶŐƟŵĞƌƐ͘ side. 3. Electrical power saving of 22,900 KW/yr 12. Using solar lights in streets and township. ĂĐŚŝĞǀĞĚĚƵĞƚŽĐŽŬĞƌŽƵƚĞŵŽĚŝĮĐĂƟŽŶ͘ ϭϯ͘ hƐĞŽĨƉŚŽƚŽƐĞŶƐŽƌƐǁŝƚĐŚĞƐĨŽƌůŝŐŚƟŶŐĐŝƌĐƵŝƚƐ͘ 4. Electrical power saving of 1,226 KW/yr achieved ϭϰ͘ ĂƉĂĐŝƚŽƌĂŶŬŝŶƐƚĂůůĞĚŝŶtŝƌĞZŽĚDŝůůΘĂƌ ĚƵĞƚŽŝŶƐƚĂůůĂƟŽŶŽĨůŝŐŚƚĚĞƉĞŶĚĞŶĐLJƌĞŐŝƐƚĞƌ͘ Mill for maintaining unity power factor. 5. Electrical power saving of 2,400 KW/yr achieved ďͿ ĚĚŝƟŽŶĂů ŝŶǀĞƐƚŵĞŶƚƐ ĂŶĚ ƉƌŽƉŽƐĂůƐ͕ ŝĨ due to wharf discharge mechanism. ĂŶLJ͕ ďĞŝŶŐ ŝŵƉůĞŵĞŶƚĞĚ ĨŽƌ ƌĞĚƵĐƟŽŶ ŽĨ 6. Electrical power saving of 30,000 KW/yr achieved ĐŽŶƐƵŵƉƟŽŶŽĨĞŶĞƌŐLJ͗ due to change in raw water pump motor. ϭ͘ ZĞƉůĂĐĞŵĞŶƚ ŽĨ ĐŽŽůŝŶŐ ƚŽǁĞƌ ĨĂŶ ďůĂĚĞƐ ǁŝƚŚ 7. Electrical power saving of 54,385 KW/yr &ZWůĂĚĞƐŝŶƉŽǁĞƌƉůĂŶƚ͘ ĂĐŚŝĞǀĞĚĚƵĞƚŽŝŶƐƚĂůůĂƟŽŶŽĨss&ĚƌŝǀĞƐ͘ Ϯ͘ dŽ ŽƉƟŵŝƐĞ W/ ĐŽŶƐƵŵƉƟŽŶ ŝŶ >W ǁŝƚŚ ďĨ ϴ͘ ŽŬĞƐĂǀŝŶŐŽĨϭ͕ϭϱϬƚŽŶŶĞͬLJƌĂĐŚŝĞǀĞĚĚƵĞƚŽ ŐĂƐ͕ ĐŚĂŶŐĞ ĨƵĞů ŵŝdž ;ĐŽĂůй͗ĨŐĂƐйͿ ĨƌŽŵ ŝŶƐƚĂůůĂƟŽŶŽĨŶƵĐůĞŽŶŝĐŵŽŝƐƚƵƌĞƚƌĂŶƐŵŝƩĞƌ͘ ϱϭ͗ϰϵƚŽϰϱ͗ϱϱ͘ ϯ͘ ZĞƉůĂĐĞŵĞŶƚ ŽĨ ŽdžLJŐĞŶ ŝŶũĞĐƟŽŶ ƐLJƐƚĞŵ ĚͿ dŽƚĂů ĞŶĞƌŐLJ ĐŽŶƐƵŵƉƟŽŶ ĂŶĚ ĞŶĞƌŐLJ from fuel to fuelless in SMS to reduce diesel ĐŽŶƐƵŵƉƟŽŶƉĞƌƵŶŝƚŽĨƉƌŽĚƵĐƟŽŶ͗ ĐŽŶƐƵŵƉƟŽŶ͘ ƐƉĞƌ&ŽƌŵŐŝǀĞŶŚĞƌĞĂŌĞƌ

84 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Directors’ Report

FORM A &ŽƌŵĨŽƌĚŝƐĐůŽƐƵƌĞŽĨƉĂƌƟĐƵůĂƌƐǁŝƚŚƌĞƐƉĞĐƚƚŽŽŶƐĞƌǀĂƟŽŶŽĨŶĞƌŐLJ

Ă͘ WŽǁĞƌĂŶĚĨƵĞůĐŽŶƐƵŵƉƟŽŶ

ƵƌƌĞŶƚLJĞĂƌ Previous Year /͘ ůĞĐƚƌŝĐŝƚLJ ;ĂͿ WƵƌĐŚĂƐĞĚ hŶŝƚŝŶ;͚ϬϬϬ<ǁŚͿ 4,31,877.24 3,90,003.36 Total amount (` In lacs) 21,921.80 19,748.46 Rate/Unit (`) 5.08 5.06 ;ďͿ KǁŶŐĞŶĞƌĂƟŽŶ i) Through diesel generator hŶŝƚƐ;͚ϬϬϬ<ǁŚͿ 812.45 1,077.16 Units per ltr. of diesel Oil 2.68 2.56 Cost / unit (`) 16.79 16.88 ii) dŚƌŽƵŐŚƐƚĞĂŵƚƵƌďŝŶĞͬŐĞŶĞƌĂƚŽƌ hŶŝƚƐ;ŝŶ͚ϬϬϬ<ǁŚͿ 35,32,147.42 30,44,235.39 Units per ltr. of fuel Oil / Gas E/> E/> Cost / unit (`) E E //͘ ŽĂů ;ĂͿ EŽŶŽŬŝŶŐŽĂůΎ YƵĂŶƟƚLJ;DdƐͿ 82,87,968.59 69,46,609.03 Total cost (` in lacs) 1,14,437.77 93,283.04 Average rate / MT (`) 1,380.77 1,342.86 ;ďͿ ŽŬŝŶŐŽĂůΎΎ YƵĂŶƟƚLJ;DdƐͿ 10,68,755.10 10,70,586.70 Total cost (` in lacs) 1,41,177.95 1,36,104.26 Average rate / MT (`) 13,209.57 12,713.05 ///͘ ŽŬĞ YƵĂŶƟƚLJ;DdƐͿ 1,41,206.47 1,37,531.80 Total cost (` in lacs) 18,428.77 20,518.40 Average rate / MT (`) 13,050.94 14,919.02 /s͘ &ƵƌŶĂĐĞKŝů YƵĂŶƟƚLJ;<͘ůƚƌƐͿ 1,30,323.10 1,18,678.06 Total cost (` in lacs) 55,651.09 47,757.51 Average rate / Ltr (`) 42.70 40.24 s͘ KƚŚĞƌƐŝŶƚĞƌŶĂůŐĞŶĞƌĂƟŽŶ YƵĂŶƟƚLJ E/> E/> Total cost (` in lacs) E E Average rate / Kg. (`) E E

 ΎhƐĞĚŝŶƚŚĞŵĂŶƵĨĂĐƚƵƌŝŶŐŽĨ^ƉŽŶŐĞ/ƌŽŶͬWŽǁĞƌWůĂŶƚ͘  ΎΎhƐĞĚŝŶŽŬĞŽǀĞŶĂŶĚƵůƟŵĂƚĞůLJĐŽŶƐƵŵĞĚŝŶůĂƐƚ&ƵƌŶĂĐĞ͘

85 Annual Report 2012-13 ď͘ ŽŶƐƵŵƉƟŽŶƉĞƌƵŶŝƚŽĨƉƌŽĚƵĐƟŽŶ

^ů͘ WĂƌƟĐƵůĂƌƐ ƵƌƌĞŶƚzĞĂƌ WƌĞǀŝŽƵƐzĞĂƌ EŽ͘ /͘ ůĞĐƚƌŝĐŝƚLJ For Sponge Iron Mfg. (unit / tonne) 75.74 75.50 For Silico Magenese Mfg. (unit / tonne) 4,030.72 3,966.15 &Žƌ^ůĂďƐͬZŽƵŶĚƐͬĞĂŵͬůĂŶŬDĨŐ͘;ƵŶŝƚͬƚŽŶŶĞͿ 497.38 513.40 &ŽƌZĂŝůƐͬĞĂŵƐͬŚĂŶŶĞůƐDĨŐ͘;ƵŶŝƚͬƚŽŶŶĞͿ 157.88 145.99 For Plate / Coil Mfg. (unit / tonne) 153.43 121.16 For Wire Rod (unit / tonne) 236.01 229.02 &ŽƌdDdĂƌ;ƵŶŝƚͬƚŽŶŶĞͿ 178.87 393.05 &ŽƌDĞĚŝƵŵ>ŝŐŚƚ^ĞĐƟŽŶ;hŶŝƚͬƚŽŶŶĞͿ 142.83 173.24 For Cement (Unit / tonne) 50.28 55.20 &Žƌ^ƚĞĞůŵĞůƟŶŐ;/ŶŐŽƚƐΘĂƐƟŶŐͿ;ƵŶŝƚͬƚŽŶŶĞͿ 1,494.45 1,261.00 For Machine / Machinery parts Mfg. (unit / tonne) 448.45 501.00 For Pellet (unit/ tonne) 62.68 61.35 //͘ &ƵĞůKŝůƐ For Sponge Iron Mfg. (litre / tonne) E/> E/> ///͘ ŽĂů For Sponge Iron Mfg. (MT / tonne) 1.48 1.36 For Silico Magenese Mfg. (MT / tonne) 0.55 0.69 For Power Plant (Kg / Kw) 0.96 0.98

͘ d,EK>K'z^KZWd/KE  īŽƌƚƐŵĂĚĞŝŶƚĞĐŚŶŽůŽŐLJĂďƐŽƌƉƟŽŶĂƐƉĞƌ&ŽƌŵŐŝǀĞŶďĞůŽǁ

&KZD &ŽƌŵĨŽƌĚŝƐĐůŽƐƵƌĞŽĨƉĂƌƟĐƵůĂƌƐǁŝƚŚƌĞƐƉĞĐƚƚŽĂďƐŽƌƉƟŽŶ

Z^Z,Es>KWDEdΈZΘΉ ϭϬ͘ DĂdžŝŵŝƐĞƚŚĞŶŽŶĐŽŬŝŶŐĐŽĂůйŝŶĐŽĂůďůĞŶĚƐƚŽŐĞƚ ͘ ^ƉĞĐŝĮĐ ĂƌĞĂƐ ŝŶ ǁŚŝĐŚ ZΘ ĐĂƌƌŝĞĚ ŽƵƚ ďLJ ƚŚĞ ĚĞƐŝƌĞĚƐƚƌĞŶŐƚŚĐŽŬĞ͘ ŽŵƉĂŶLJ͗ ϭϭ͘ ŶĞƌŐLJƐĂǀŝŶŐŝŶ^ƚĞĞů>ĂĚůĞďLJƚŚĞƵƐĞŽĨ/ŶƐƵůĂƟŽŶ ϭ͘ ^ƚƵĚLJ ŽŶ ƌŽŽƚ ĐĂƵƐĞ ĂŶĂůLJƐŝƐ ŽĨ ƐƵƌĨĂĐĞ ĐƌĂĐŬƐ ŝŶ ŽĂƌĚƐ͘ plates. ϭϮ͘ ŶĞƌŐLJ ƐĂǀŝŶŐ ŝŶ ^ƚĞĞů >ĂĚůĞ ďLJ ƚŚĞ ƵƐĞ ŽĨ ƐƉĞĐŝĂů 2. Surface quality improvement in rounds. ƌĞĨƌĂĐƚŽƌLJŵŽƌƚĂƌǁŝƚŚZKEy/ĂĚĚŝƟǀĞ͘ ϯ͘ ^ƚƵĚLJŽŶƌĞĚƵĐƟŽŶŽĨhdĨĂŝůƵƌĞŝŶƉůĂƚĞƐ͘ ϭϯ͘ dƌŝĂůŽĨWW&ĐĞƌĂŵŝĐďůŽĐŬƐĨŽƌ,ŽƚŵĞƚĂůůĂĚůĞ>ŝƉ͘ ϰ͘ WƌŽĚƵĐƟŽŶ ŽĨ W/yϳϬ ŐƌĂĚĞ ĐŽŝůƐͬƉůĂƚĞƐ ǁŝƚŚ ϭϰ͘ DŝůůƐĐĂůĞƌĞĚƵĐƟŽŶŝŶĐŽŬĞŽǀĞŶƐ͘

ĐŽŶƐŝƐƚĞŶƚŵĞĐŚĂŶŝĐĂůƉƌŽƉĞƌƟĞƐ͘ ϭϱ͘ /ŵƉƌŽǀĞŵĞŶƚŝŶƋƵĂůŝƚLJŽĨƐŝŶƚĞƌďLJƵƐŝŶŐŽŶůŝŶĞĂů2 5. Study for the end non-straightness in the trade rails spraying. ƌŽůůĞĚŝŶZhD͘ ϭϲ͘ ^ĞĐƟŽŶĞǀĞůŽƉŵĞŶƚŽĨZĂŝůh/ϱϰ͕ŶŐůĞϮϱϬdžϮϱϬdžϮϴ͕ ϲ͘ dŽƐƚƵĚLJƚŚĞƌŽŽƚĐĂƵƐĞƐĨŽƌŇĂŶŐĞǀĂƌŝĂƟŽŶĚĞĨĞĐƚƐŝŶ ϮϱϬdžϮϱϬdžϯϱ͕ ŶŐůĞ ϭϱϬdžϭϱϬdžϭϴ͕ϭϱϬdžϭϱϬdž ϮϬ͕ ISMC250. ϭϱϮdžϭϱϮdžϭϵ͕ ŶŐůĞ ϮϬϬdžϮϬϬdžϮϬ͕ϮϬϬdžϮϬϬdžϮϱ͕ Angle ϳ͘ dŽƐƚƵĚLJƚŚĞƌŽŽƚĐĂƵƐĞƐĨŽƌƚŚĞŶĂƌƌŽǁŇĂŶŐĞĚĞĨĞĐƚ ϭϮϬdžϭϮϬĂŶĚŚĂŶŶĞůϭϬϬŵŵ͘ ŝŶD>^DƐĞĐƟŽŶƐ͘ ϭϳ͘ dƵLJĞƌĞĐŝƌĐƵŝƚŇŽǁƚŽďĞŝŶĐƌĞĂƐĞĚƵƉƚŽĚĞƐŝŐŶŇŽǁ 3 ϴ͘ ĞǀĞůŽƉŵĞŶƚ ŽĨ ĮdžƚƵƌĞƐ ƚŽ ĐĂƌƌLJŽƵƚ ƐƵďnjĞƌŽ ƚĞŶƐŝůĞ ϭ͕ϱϬϬEŵ ͬ,ƌ͘ǁŝƚŚŽŶĞW,ŝŶůŝŶĞďLJƚƌŝŵŵŝŶŐƚŚĞ ƚĞƐƚŝŶDd^ϴϭϬƵƐŝŶŐĞŶǀŝƌŽŶŵĞŶƚĐŚĂŵďĞƌ͘ impeller. ϵ͘ ^ƚƵĚLJŽŶĨĞĂƐŝďŝůŝƚLJƚŽƵƐĞŵĂdžŝŵƵŵйŽĨƉĞƚƌŽůĞƵŵ 18. Eliminate Mill Loading cylinder failure. ĐŽŬĞŝŶĐŽĂůďůĞŶĚƐ͘ ϭϵ͘ /ůůƵŵŝŶŝƚĞ ƐĂŶĚ ŝŶũĞĐƟŽŶ ĨŽƌ ĐŽŶƚƌŽůůŝŶŐ ƚŚĞ ŚĞĂƌƚŚ wall temperature.

86 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Directors’ Report

ϮϬ͘ ^ŽůƵƟŽŶͬƉƌĞǀĞŶƟŽŶĨŽƌĞƌŽƐŝŽŶŽĨĚĞǁĂƚĞƌŝŶŐǁŚĞĞů ƉƵƌĐŚĂƐĞŽĨĂŶĞǁĞŶǀŝƌŽŶŵĞŶƚĐŚĂŵďĞƌ͘ ƐŝĚĞďŽĚLJ͘ ϵ͘ dŚĞƌĞƐƵůƚƐĂĐŚŝĞǀĞĚƐŚŽǁƚŚĂƚƚŚĞƵƐĞŽĨƉĞƚĐŽŬĞĨŽƌ Ϯϭ͘ /ŶƐƚĂůůĂƟŽŶŽĨƐĞĐŽŶĚ^'WƉƵŵƉŚŽƵƐĞƐŽƚŚĂƚƐůĂŐŝŶ ĐŽŬĞŵĂŬŝŶŐŝƐůŝŵŝƚĞĚƚŽϮͲϯйŝŶůĂƐƚ&ƵƌŶĂĐĞ͘ ďŽƚŚƚŚĞĐĂƐƚŚŽƵƐĞƐĐĂŶďĞŐƌĂŶƵůĂƚĞĚ͕ŵŝŶŝŵŝƐŝŶŐ ϭϬ͘ EŽŶĐŽŬŝŶŐĐŽĂůŚĂƐďĞĞŶƐƵĐĐĞƐƐĨƵůůLJƵƐĞĚƵƉƚŽϭϬй the losses. ŝŶĐŽŬĞŽǀĞŶ͘dŚŝƐŚĂƐůĞĚƚŽĐŽŶƐŝĚĞƌĂďůĞƐĂǀŝŶŐƐ͘ ϮϮ͘ ďŽǀĞ ƵƌĚĞŶ WƌŽďĞͲϭϴϬΣ͕ ƌĞĐŽŶĚŝƟŽŶĞĚ ĂŶĚ ůŽŐŝĐ ϭϭ͘ ^ŚĞůůƚĞŵƉĞƌĂƚƵƌĞďŽƚŚŝŶƐŝĚĞǁĂůůĂŶĚďŽƩŽŵǁĂƐ ŵŽĚŝĮĞĚĨŽƌƐŵŽŽƚŚŽƉĞƌĂƟŽŶ͘ ŶŽƟĐĞĚůĞĂĚŝŶŐƚŽĞŶĞƌŐLJƐĂǀŝŶŐ͘ Ϯϯ͘ WƌŽǀŝƐŝŽŶŽĨŇĂƉŐĂƚĞƚŽĐŽŶƚƌŽůƉĞůůĞƚƐƉŝůůĂŐĞ͘ 12. Used in two ladles. Shell temperature was found Ϯϰ͘ /ŶƐƚĂůůĂƟŽŶ ŽĨ ĮůƚĞƌ ŝŶ W/ ůŝŶĞ ƐƚŽƉ ĨŽƌĞŝŐŶ ŵĂƚĞƌŝĂů ĐŽŵƉĂƌĂƟǀĞůLJůŽǁĞƌƚŚĂŶŽƚŚĞƌůĂĚůĞƐ͘ ŐŽŝŶŐŝŶĚŝƐƚƌŝďƵƚŽƌ͘ 13. Average 3.25 campaign life achieved. Ϯϱ͘ /ŶƐƚĂůůĂƟŽŶŽĨǁŝƌĞůĞƐƐƐLJƐƚĞŵƚŽƚƌĂŶƐŵŝƚƚŚĞǁĂƚĞƌ ϭϰ͘ dƌŝĂůƐ ĐŽŶĚƵĐƚĞĚ Ăƚ ŽŬĞ ŽǀĞŶ ĨŽƌ ƌĞƵƟůŝƐĂƟŽŶ ŽĨ ŇŽǁŵĞĂƐƵƌĞŵĞŶƚĨƌŽŵDĂŶƐĂƌŽǀĂƌƉƵŵƉŚŽƵƐĞƚŽ Dŝůů ^ĐĂůĞ ǁŚŝĐŚ ŝƐ ŐĞŶĞƌĂƟŶŐ ŝŶ Ă ŚƵŐĞ ƋƵĂŶƟƚLJ ůĂƐƚ&ƵƌŶĂĐĞϮ͘ ĚƵƌŝŶŐ ƌŽůůŝŶŐ ƉƌŽĐĞƐƐ͘ DĞƚĂůůŝƐĂƟŽŶ ǀĂůƵĞƐ ĨŽƌ ƚŚĞ 26. Commissioning of chiller unit for furnace RIO room, ƚĞƐƚƐƌĂŶŐĞĚĨƌŽŵϴϮƚŽϴϱй͘ĂƐĞĚŽŶƚŚĞĮŶĚŝŶŐƐ hyd. room, gas analyser room. ŽĨ ƚŚĞƐĞ ƚƌŝĂůƐ͕ ŝŵƉůĞŵĞŶƚĂƟŽŶ ŽĨ ĐŽͲƉƌŽĚƵĐƟŽŶ ŽĨ ŵĞƚĂůůŝĐ͛Ɛ͕ĐŽŬĞĂŶĚĞŶĞƌŐLJĐĂŶďĞĚĞƉůŽLJĞĚĨŽƌĨƵůů Ϯϳ͘ ƵƚŽ^ŝŐŶĂůŝŶŐ^LJƐƚĞŵĨŽƌdŽƌƉĞĚŽ>ĂĚůĞZĂŝůƚƌĂĐŬ͘ ƐĐĂůĞƉƌŽĚƵĐƟŽŶĐŽƐƚĞīĞĐƟǀĞůLJĂŶĚƋƵŝĐŬůLJ͘ Ϯϴ͘ EĞǁŐƌĂĚĞĚĞǀĞůŽƉŵĞŶƚŽĨW/yϱϲĂŶĚDϬϰƵ͘ ϭϱ͘ Z/ŽĨƐŝŶƚĞƌŚĂƐďĞĞŶŝŵƉƌŽǀĞĚ͘ Ϳ ĞŶĞĮƚƐĚĞƌŝǀĞĚĂƐĂƌĞƐƵůƚŽĨƚŚĞĂďŽǀĞZΘ͗ ϭϲ͘ dŚĞĂĚĚŝƟŽŶŽĨŶĞǁƉƌŽĚƵĐƚƐĞŶĂďůĞĚƚŚĞŽŵƉĂŶLJ ϭ͘ dŚĞйĚŝǀĞƌƐŝŽŶŽŶĂĐĐŽƵŶƚŽĨƐƵƌĨĂĐĞĐƌĂĐŬƐŝŶƉůĂƚĞƐ to provide wide range of products to the customer- all ŚĂƐďĞĞŶƌĞĚƵĐĞĚƚŽůĞƐƐƚŚĂŶϬ͘ϱйĂƐĐŽŵƉĂƌĞĚƚŽ under a roof. ƚŚĞ ƉƌĞǀŝŽƵƐ ĮŐƵƌĞ ŽĨ ϭ͘ϱ ƚŽ Ϯй͘ dŚĞ й ŐƌŝŶĚŝŶŐ Žƌ ϭϳ͘ ǀĂŝůĂďŝůŝƚLJŽĨƐƵĸĐŝĞŶƚǁĂƚĞƌĂƚĚĞƐŝƌĞĚƚĞŵƉĞƌĂƚƵƌĞ ƌĞǁŽƌŬĂůƐŽŚĂƐƐůŝŐŚƚůLJƌĞĚƵĐĞĚ͘ for tuyere cooling, increasing its life. 2. Overall surface quality of rounds improved due to ϭϴ͘ ŌĞƌ ŝŶƐƚĂůůŝŶŐ ƚŚĞ ,LJĚƌĂƵůŝĐ ƐLJƐƚĞŵ ĨŽƌ ĚŝƐŵĂŶƚůŝŶŐ which the % diversion has steadily reduced from ĂŶĚĂƐƐĞŵďůLJŽĨůŽĂĚŝŶŐĐLJůŝŶĚĞƌ͗ 2.61 in the year 2011-12 to 0.41 in the last quarter Time reduced to ready a cylinder from 4 hrs to 1hr. of 2012-13. This has also increased the compliance to Enhanced the life of loading cylinder from 7days customer orders. to 6 month ϯ͘ dŚĞйhdĨĂŝůƵƌĞŝŶƉůĂƚĞƐŚĂƐďĞĞŶƌĞĚƵĐĞĚƚŽnjĞƌŽ͘  /ŶĐƌĞĂƐĞĚƚŚĞĂǀĂŝůĂďŝůŝƚLJŽĨW/ŐƌŝŶĚŝŶŐDŝůů Apart from this it has also helped in maintaining compliance to stringent customer orders and reducing ϭϵ͘ ĞŶĞĮƚĞĚ ŝŶ ŵŽŶĞƚĂƌLJ ƚĞƌŵƐ ;ĞƋƵŝƉŵĞŶƚ ĐŽƐƚ ƌŽůůŝŶŐŽĨĞdžƚƌĂƚŽŶŶĂŐĞ͘ ʹ ĨĂďƌŝĐĂƟŽŶ ĐŽƐƚͿ͘ ŽŶƚƌŽů Θ ƚŚĞ ŚĞĂƌƚŚ ǁĂůů ϰ͘ ^ƵĐĐĞƐƐĨƵů ƉƌŽĚƵĐƟŽŶ ŽĨ W/yϳϬ ŐƌĂĚĞ ĐŽŝůƐ ĂĚĚĞĚ temperature. another high quality product to Company’s product ϮϬ͘ EŽŶĞĞĚƚŽŝŵƉŽƌƚƚŚĞǁŚĞĞů͘ ŵŝdž͘ /ŵƉƌŽǀĞĚ ŵĞĐŚĂŶŝĐĂů ƉƌŽƉĞƌƟĞƐ ĞŶƐƵƌĞĚ Ϯϭ͘ ϭϬϬй ƐůĂŐ ŐƌĂŶƵůĂƟŽŶ͘ EŽ ǁĂƐƚĂŐĞ ƚŚƌŽƵŐŚ ƐůĂŐ ĐƵƐƚŽŵĞƌ ĚĞůŝŐŚƚ ĂŶĚ ƌĞĚƵĐĞĚ ƚŚĞ ŶƵŵďĞƌ ŽĨ ďŽƵůĚĞƌŐĞŶĞƌĂƟŽŶŝŶĚƌLJƉŝƚ͘ complaints due to property failure. ϮϮ͘ EŽŶĞĞĚƚŽƉƌŽĐƵƌĞĐŽƐƚůLJƉƌŽďĞƐ͘ĞƩĞƌŽƉĞƌĂƟŽŶĂů ϱ͘ WƌŽĐĞƐƐŝŶŐƉĂƌĂŵĞƚĞƌƐǁĞƌĞĮŶĞƚƵŶĞĚŝŶĐůƵĚŝŶŐƉƌĞͲ control. ĐĂŵďĞƌŝŶŐ Ăƚ ĐŽŽůŝŶŐ ďĞĚ ƚŽ ƌĞĚƵĐĞ ƚŚĞ ͞ZĞĮŶŝƐŚ͟ Ϯϯ͘ ^ĂǀŝŶŐŽĨƌĂǁŵĂƚĞƌŝĂůďLJƉƌĞǀĞŶƟŶŐŝƚƐǁĂƐƚĂŐĞďLJ ƋƵĂŶƟƚLJŽĨƌĂŝůƐĂƌŝƐŝŶŐŽƵƚĚƵĞƚŽďĞŶƚĞŶĚƐ͘ spillage. ϲ͘ dŚĞ ŵŝůů ĂŶĚ ĨƵƌŶĂĐĞ ƉĂƌĂŵĞƚĞƌƐ ǁĞƌĞ ŽƉƟŵŝƐĞĚ Ϯϰ͘ ĞƌŽďƌĞĂŬĚŽǁŶŝŶW/ĚƵĞƚŽĨŽƌĞŝŐŶƉĂƌƟĐůĞƐ͘ ǁŚŝĐŚƌĞƐƵůƚĞĚŝŶƐŝŐŶŝĮĐĂŶƚƌĞĚƵĐƟŽŶŝŶƚŚĞĚĞĨĞĐƟǀĞ Ϯϱ͘ ĞƩĞƌŵŽŶŝƚŽƌŝŶŐĂŶĚĐŽŶƚƌŽů͘ ƋƵĂŶƟƚLJĚƵĞƚŽŇĂŶŐĞǀĂƌŝĂƟŽŶƐ͘ Ϯϲ͘ WƌĞǀĞŶƟŶŐĂŶLJƐLJƐƚĞŵďƌĞĂŬĚŽǁŶĚƵĞƚŽŚĞĂƟŶŐďLJ ϳ͘ dŚĞ ƐƚƵĚLJ ŚĞůƉĞĚ ŝŶ ŵŝŶŝŵŝƐŝŶŐ ƚŚĞ ĐĂƉƟǀĞ ĂŶĚ providing proper cooling. ĚĞĨĞĐƟǀĞŐĞŶĞƌĂƟŽŶĚƵĞƚŽŶĂƌƌŽǁŇĂŶŐĞĂƚDĞĚŝƵŵ 27. Improvement in safety at crossing points and along Θ>ŝŐŚƚ^ƚƌƵĐƚƵƌĞDŝůůǁŝƚŚŵŽĚŝĮĐĂƟŽŶƐŝŶƚŚĞŵŝůů ƚŚĞƚƌĂĐŬƐ͘ process parameters. Ϯϴ͘ W/yϱϲŐƌĂĚĞƉůĂƚĞƐŽĨƚŚŝĐŬŶĞƐƐϯϴŵŵǁŝƚŚtdd ϴ͘ dŚĞ ĚĞǀĞůŽƉŵĞŶƚ ŽĨ ƚŚĞ ŝŶĚŝŐĞŶŽƵƐ ĮdžƚƵƌĞ ŵĂĚĞ ŐƵĂƌĂŶƚĞĞ ǁĞƌĞ ƐƵĐĐĞƐƐĨƵůůLJ ĚĞǀĞůŽƉĞĚ ĨŽƌ ƚŚĞ ĮƌƐƚ ŝƚ ƉŽƐƐŝďůĞ ƚŽ ĐŽŶĚƵĐƚ ƚĞŶƐŝůĞ ƚĞƐƚ Ăƚ ĐƌLJŽŐĞŶŝĐ ƟŵĞ ŝŶ /ŶĚŝĂ͘ dŚŝƐ ŚĂƐ ĂĚĚĞĚ ĂŶŽƚŚĞƌ ŚŝŐŚ ƋƵĂůŝƚLJ temperatures which resulted in a cost saving against ƉƌŽĚƵĐƚƚŽƚŚĞŽŵƉĂŶLJ͛ƐƉƌŽĚƵĐƚŵŝdž͘

87 Annual Report 2012-13 Ϳ &ƵƚƵƌĞWůĂŶŽĨĐƟŽŶ͗ d,EK>K'z^KZWd/KE͕Wdd/KEE ϭͿ >ŝŵĞƐƚŽŶĞǁĂƐŚŝŶŐƐLJƐƚĞŵƚŽďĞ/ŶƐƚĂůůĞĚƚŽŝŵƉƌŽǀĞ /EEKsd/KE͗ the quality of Raw lime Stone. ĂͿ īŽƌƚƐ ŝŶ ďƌŝĞĨ͕ ŵĂĚĞ ƚŽǁĂƌĚƐ ƚĞĐŚŶŽůŽŐLJ ϮͿ ^ĞĐƟŽŶĞǀĞůŽƉŵĞŶƚŽĨŶŐůĞϵϬŵŵ͘ ĂďƐŽƌƉƟŽŶ͕ĂĚĂƉƚĂƟŽŶĂŶĚŝŶŶŽǀĂƟŽŶĂŶĚďĞŶĞĮƚƐ ϯͿ ^ĞĐƟŽŶĞǀĞůŽƉŵĞŶƚŽĨŚĂŶŶĞůϳϱŵŵ͘ ĚĞƌŝǀĞĚĂƐĂƌĞƐƵůƚ͗ ϰͿ ^ĞĐƟŽŶĞǀĞůŽƉŵĞŶƚŽĨĂŶƚĂŵĞĂŵϭϮdžϭϬ͘ϴŵŵ͘ ϭ͘ Ğ ĂůŬĂůŝƐĂƟŽŶ ďLJ ĞŐĂƐƐĞƌ tĂƚĞƌͲ  ŽŶĐĞƉƚ Developed. ϱͿ ďŽǀĞƵƌĚĞŶWƌŽďĞͲϬΣ;Z/WůĂŶƚƐŝĚĞͿƚŽďĞƌĞƉůĂĐĞĚ Ϯ͘ /ŶĚŝŐĞŶŽƵƐĚĞƐŝŐŶŽĨĮdžƚƵƌĞĨŽƌĐĂƌƌLJŝŶŐŽƵƚ^ƵďͲnjĞƌŽ ǁŝƚŚŶĞǁŽŶĞΘŵĂŬĞƌĞĂĚLJƚŽĞdžŝƐƟŶŐǀĂůǀĞ͘ Temperature Tensile Test. ϲͿ /ŶƐƚĂůůĂƟŽŶŽĨdKdDƚŽƉƐĐĂŶ͘ ϯ͘ KŝůƌĞĚƵĐƟŽŶŝŶŚŽƚŐĂƐŐĞŶĞƌĂƚŽƌ͘ 7) Commissioning of Historian system. 4. Power saving in cooling tower fan. ϴͿ KŶůŝŶĞĐŽŬĞŵŽŝƐƚƵƌĞŵĞĂƐƵƌĞŵĞŶƚ͘ ϱ͘ ZĞĚƵĐĞǁŝƌĞƌŽƉĞĐŽŶƐƵŵƉƟŽŶŝŶ,ŽƚDĞƚĂů,ĂŶĚůŝŶŐ ϵͿ /ŶƐƚĂůůĂƟŽŶ ŽĨ ,ĞĂƚ dƌĞĂƚ >ĞǀĞůůĞƌ ƚŽ ůĞǀĞů ǁĂǀLJ ĂŶĚ ƌĂŶĞŽĨůĂƐƚ&ƵƌŶĂĐĞʹ/͘ ďƵĐŬůĞĚƉůĂƚĞƐƚŚĞƌĞďLJŝŵƉƌŽǀŝŶŐŽǀĞƌĂůůLJŝĞůĚ͘ ϲ͘ ĞƌĂŵŝĐĐŽĂƟŶŐŽŶŝŶŶĞƌƐƵƌĨĂĐĞŽĨƚƵLJĞƌĞƐƚŽƌĞĚƵĐĞ ϭϬͿ EĞǁƐĞĐƟŽŶ;ϱΎϭϱϬϬͬϭϮϱϬͿƐƚĂďŝůŝƐĂƟŽŶ͘ heat loss. ϭϭͿ EĞǁŐƌĂĚĞƐŚŝƉďƵŝůĚŝŶŐƉůĂƚĞƐ͘ ϳ͘ hƉŐƌĂĚĂƟŽŶŽĨƐƚŽǀĞǀĂůǀĞƐΘͬ,ƋƵŝƉŵĞŶƚǁŝƚŚ ϭϮͿ dƌŝĂůŽĨ&ŝďƌĞ^ƚŽŶĞƐŝŶ>ĂƵŶĚĞƌƌƵŶŶĞƌ͘ hydraulic energy. ϭϯͿ ŚĂƌ ĐŽĂů ŚĞĂƟŶŐ ŽĨ ďŽƩŽŵ  ŽĨ & ďĞĨŽƌĞ ŝƚƐ 8. Energy Saving in Steel Ladles. ŽƉĞƌĂƟŽŶ͘ ϵ͘ /ŶƐƚĂůůĂƟŽŶ ŽĨ ^ŽŌ ^ƚĂƌƚĞƌ ĨŽƌ ,d DŽƚŽƌƐ Ăƚ ůĂƐƚ 14) Trial of improved quality gunning mass. Furnace-II. ͘ džƉĞŶĚŝƚƵƌĞŽŶZΘĚƵƌŝŶŐϮϬϭϮͲϭϯ͗ Ă͘ ĂƉŝƚĂů ͗ ` 14.32 crore ď͘ ZĞĐƵƌƌŝŶŐ ͗ ` 14.25 crore Đ͘ dŽƚĂů ͗ ` 28.57 crore

ďͿ /ŶĐĂƐĞŽĨŝŵƉŽƌƚĞĚƚĞĐŚŶŽůŽŐLJ;ŝŵƉŽƌƚĞĚĚƵƌŝŶŐƚŚĞůĂƐƚĮǀĞLJĞĂƌƐƌĞĐŬŽŶĞĚĨƌŽŵƚŚĞďĞŐŝŶŶŝŶŐŽĨƚŚĞĮŶĂŶĐŝĂů LJĞĂƌͿĨŽůůŽǁŝŶŐŝŶĨŽƌŵĂƟŽŶŵĂLJďĞĨƵƌŶŝƐŚĞĚ ϭ͘ dĞĐŚŶŽůŽŐLJ/ŵƉŽƌƚĞĚ͗

ϮϬϬϴͲϬϵ ϮϬϬϵͲϭϬ ϮϬϭϬʹϭϭ ϮϬϭϭͲϭϮ ϮϬϭϮͲϭϯ 1) 100T Electric 1) Medium Light EĞǁƐƚƌĂŝŐŚƚĞŶŝŶŐ E/> E/> Arc Furnace, Structural Mill machine installed Ladle Furnace ƐƵƉƉůŝĞĚďLJDͬ^ ƚŽƐƚƌĂŝŐŚƚĞŶĞĂŵƐ and FES from Danielle. ďĞLJŽŶĚϳϬϬŵŵ͘ Sarrale, Spain. 2) Slag grinding unit for Technology and ƉƌŽĚƵĐƟŽŶŽĨĐĞŵĞŶƚ equipment supplied ƵƐŝŶŐŇLJĂƐŚĂŶĚďůĂƐƚ ďLJ^D^ͺDĞĞƌ͘ furnace slag

Ϯ͘ zĞĂƌŽĨŝŵƉŽƌƚ͗ƐŐŝǀĞŶĂďŽǀĞ ϯ͘ ,ĂƐƚĞĐŚŶŽůŽŐLJďĞĞŶĨƵůůLJĂďƐŽƌďĞĚ͍zĞƐ͘ ϰ͘ /ĨŶŽƚĨƵůůLJĂďƐŽƌďĞĚ͕ĂƌĞĂƐǁŚĞƌĞƚŚŝƐŚĂƐŶŽƚƚĂŬĞŶƉůĂĐĞ͕ƌĞĂƐŽŶƚŚĞƌĞŽĨĂŶĚĨƵƚƵƌĞƉůĂŶƐŽĨĂĐƟŽŶ͗E

88 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Directors’ Report

FOREIGN EXCHANGE EARNINGS AND OUTGO in the previous year. An order for 33,000 MT HR Coil ĨŽƌĂŶŝŵƉŽƌƚĂŶƚǁĂƚĞƌƉŝƉĞůŝŶĞƉƌŽũĞĐƚŝŶdĂŶnjĂŶŝĂ ͘ ĐƟǀŝƚLJƌĞůĂƟŶŐƚŽĞdžƉŽƌƚ ŚĂƐ ďĞĞŶ ƐƵĐĐĞƐƐĨƵůůLJ ĐŽŵƉůĞƚĞĚ͘ DĂƌŬĞƚ ƐŚĂƌĞ ĨŽƌ ŝͿ /ŶŝƟĂƟǀĞƐƚĂŬĞŶƚŽŝŶĐƌĞĂƐĞĞdžƉŽƌƚ ƐƚƌƵĐƚƵƌĂůƐŚĂƐĂůƐŽŝŶĐƌĞĂƐĞĚŝŶƚŚŝƐƌĞŐŝŽŶĂŶĚĂĮƌŵ  &ƵƌƚŚĞƌ ƚŽ ƚŚĞ ŝŶŝƟĂƟǀĞƐ ƚĂŬĞŶ ŝŶ ϮϬϭϭͲϭϮ ĂŶĚ ĐƵƐƚŽŵĞƌďĂƐĞŝƐďĞŝŶŐĞƐƚĂďůŝƐŚĞĚ͘ ǁŝƚŚ ŝŶĐƌĞĂƐĞĚ ĨŽĐƵƐ ŽŶ ĞdžƉŽƌƚƐ͕ ƚŚĞ ŽŵƉĂŶLJ ŚĂƐ ĂĐŚŝĞǀĞĚ ƐŝŐŶŝĮĐĂŶƚ ŝŶĐƌĞĂƐĞ ŽĨ ϲϬй ;LJĞĂƌ ŽŶ LJĞĂƌͿ  ^^/ͬ&Z^d^/͗ƵƌŝŶŐƚŚĞLJĞĂƌϮϬϭϮͲϭϯ͕ƚŚĞ ŝŶ ƐĂůĞƐ ǀŽůƵŵĞ ŝŶ ůĂƐƚ ĮŶĂŶĐŝĂů LJĞĂƌ ϮϬϭϮͲϭϯ͘ dŚĞ ŽŵƉĂŶLJŚĂƐĞŶƚĞƌĞĚƚŚĞdĂŝǁĂŶƉůĂƚĞŵĂƌŬĞƚĂŐĂŝŶƐƚ ƚŽƚĂůƚŽŶŶĂŐĞŽĨƐƚĞĞůƉƌŽĚƵĐƚƐĞdžƉŽƌƚĞĚŝŶϮϬϭϮͲϭϯ ƐƟīĐŽŵƉĞƟƟŽŶĨƌŽŵƚŚĞŚŝŶĞƐĞŵŝůůƐĂŶĚƚŚĞ>ŽĐĂů was 4,33,000 MT as against 2,69,000 MT last year. ŚŝŶĂ^ƚĞĞůŽƌƉŽƌĂƟŽŶ͘īŽƌƚƐĂƌĞĂůƐŽďĞŝŶŐŵĂĚĞ ŽƵŶƚƌLJͲǁŝƐĞĞdžƉŽƌƚƉĞƌĨŽƌŵĂŶĐĞŝƐŐŝǀĞŶďĞůŽǁ͗ ĨŽƌĚĞǀĞůŽƉŝŶŐƚŚĞ^ŝŶŐĂƉŽƌĞ^ŚŝƉďƵŝůĚŝŶŐŵĂƌŬĞƚĂŶĚ have already got some trial orders.  EĞŝŐŚďŽƵƌŝŶŐ ĐŽƵŶƚƌŝĞƐ͗ ĞƐƉŝƚĞ ƚŽƵŐŚ ĐŽŵƉĞƟƟŽŶ ĨƌŽŵ ŚŝŶĂ ĂŶĚ ŽƚŚĞƌ /ŶĚŝĂŶ ƐƵƉƉůŝĞƌƐ ůŝŬĞ ^/> ĂŶĚ ŝŝͿ ĞǀĞůŽƉŵĞŶƚŽĨŶĞǁĞdžƉŽƌƚŵĂƌŬĞƚĨŽƌƉƌŽĚƵĐƚƐ TATA, Company managed to increase sales of steel ĂŶĚƐĞƌǀŝĐĞƐĂŶĚĞdžƉŽƌƚƉůĂŶƐ͗ ƚŽϴϴй;LJĞĂƌŽŶLJĞĂƌͿ͕ŵĂŝŶŝƚĞŵƐďĞŝŶŐtŝƌĞZŽĚƐ During the year 2013 -14 the Company has plans to Θ ^ĞŵŝƐ ƚŽ KD͛Ɛ͘ /Ŷ ĂĚĚŝƟŽŶ͕ ŽƚŚĞƌ ƉƌŽĚƵĐƚƐ ůŝŬĞ consolidate its presence in the Middle East & African ƉůĂƚĞƐ ĂŶĚ ƐƚƌƵĐƚƵƌĂů ŚĂǀĞ ďĞĞŶ ĞdžƉŽƌƚĞĚ ĨŽƌ ƐŽŵĞ ŵĂƌŬĞƚ͘īŽƌƚƐĂƌĞĂůƐŽďĞŝŶŐŵĂĚĞƚŽĞŶƚĞƌƚŚĞƟŚĂĚ ŽĨƚŚĞŝŵƉŽƌƚĂŶƚŚLJĚƌŽƉƌŽũĞĐƚƐŝŶEĞƉĂů͘/ŶĐĂƐĞŽĨ Rail Project for the UIC 60 E2 and Head Hardened rails ĂŶŐůĂĚĞƐŚ͕ ŽŵƉĂŶLJ ŚĂƐ ďƵŝůƚ Ă ƐƚĞĂĚLJ ďƵƐŝŶĞƐƐ ĂŶĚĂƌĞƚĂƌŐĞƟŶŐƚŚĞW/WŝƉĞDĂƌŬĞƚĨŽƌǀĂůƵĞĂĚĚĞĚ ƌĞůĂƟŽŶƐŚŝƉĨŽƌƐƵƉƉůLJŽĨYǁŝƌĞƌŽĚƐƚŽK͘͘D͛ƐĂŶĚ Plates from Angul plant in the Middle Eastern region. Plates for shipyards. ͘ dŽƚĂůĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞƵƐĞĚĂŶĚĞĂƌŶĞĚ  D ZĞŐŝŽŶ͗ ŽŵƉĂŶLJ ŚĂƐ ĐŽŶƐŽůŝĚĂƚĞĚ ĂƐƚ ZŽƵŶĚ ŝ͘ &ŽƌĞŝŐŶĞdžĐŚĂŶŐĞƵƐĞĚ͗`ϯ͕ϲϯϬ͘ϯϮĐƌŽƌĞ ďƵƐŝŶĞƐƐŝŶ^ĂƵĚŝƌĂďŝĂ͖ĂƚŽƚĂůǀŽůƵŵĞŽĨϭ͕ϴϲ͕ϰϮϳ MT was dispatched in 2012-13 against 1,31,183 MT ŝŝ͘ &ŽƌĞŝŐŶĞdžĐŚĂŶŐĞĞĂƌŶĞĚ͗`ϭ͕ϲϮϭ͘ϭϯĐƌŽƌĞ ŝŶůĂƐƚĮŶĂŶĐŝĂůLJĞĂƌƌĞŐŝƐƚĞƌŝŶŐĂŶŝŶĐƌĞĂƐĞŽĨϰϮй͘ ĞƐŝĚĞƐĐĂƐƚƌŽƵŶĚƐ͕ƐĂůĞƐǀŽůƵŵĞŝŶŽƚŚĞƌƉƌŽĚƵĐƚƐ ůŝŬĞƐƚƌƵĐƚƵƌĂůƐΘŇĂƚƉƌŽĚƵĐƚƐŚĂƐĂůƐŽďĞĞŶŝŶĐƌĞĂƐĞĚ and also made inroads in some of the important ƉƌŽũĞĐƚƐůŝŬĞůZĂďŝŐŚWŽǁĞƌWůĂŶƚĞdžƉĂŶƐŝŽŶƉƌŽũĞĐƚ ŝŶ^ĂƵĚŝƌĂďŝĂ͘ &ŽƌΘŽŶďĞŚĂůĨŽĨƚŚĞŽĂƌĚ  ĨƌŝĐĂ ͗ ŽŵƉĂŶLJ͛Ɛ ŵĂŝŶ ĨŽĐƵƐ ƌĞŐŝŽŶ ŝƐ ƚŚĞ ĂƐƚ ĨƌŝĐĂŶĐŽŶƟŶĞŶƚĂŶĚĂĐŽŶƐŽůŝĚĂƚĞĚƐĂůĞƐŽĨϰϵ͕ϯϬϬ WůĂĐĞ͗EĞǁĞůŚŝ EĂǀĞĞŶ:ŝŶĚĂů DdŚĂƐďĞĞŶŵĂĚĞŝŶϮϬϭϮͲϭϯĂƐĂŐĂŝŶƐƚϭϬ͕ϱϬϬDd ĂƚĞĚ͗ϮϱƚŚƉƌŝů͕ϮϬϭϯ Chairman

89 Annual Report 2012-13 EEyhZ͵/// ŽƌƉŽƌĂƚĞ'ŽǀĞƌŶĂŶĐĞZĞƉŽƌƚ

CORPORATE “GOVERNANCE is a set of systems, processes and principles which ensure that a Company is governed ŝŶƚŚĞďĞƐƚŝŶƚĞƌĞƐƚƐŽĨĂůů ƐƚĂŬĞŚŽůĚĞƌƐ͘/ƚŝƐĂďŽƵƚ ƉƌŽŵŽƟŶŐĨĂŝƌŶĞƐƐ͕ĞƋƵŝƚLJ͕ ƚƌĂŶƐƉĂƌĞŶĐLJ͕ĂĐĐŽƵŶƚĂďŝůŝƚLJ and respect for laws. The ĂŝŵŽĨ͞'ŽŽĚŽƌƉŽƌĂƚĞ 'ŽǀĞƌŶĂŶĐĞ͟ŝƐƚŽĞŶƐƵƌĞ commitment to manage ĂīĂŝƌƐŽĨƚŚĞŽŵƉĂŶLJŝŶ a transparent manner for ŵĂdžŝŵŝƐŝŶŐůŽŶŐͲƚĞƌŵǀĂůƵĞ of the Company for its shareholders and all other ƐƚĂŬĞŚŽůĚĞƌƐ͘

ϭΉ KDWEz͛^W,/>K^KW,zKEKZWKZd'KsZEE Corporate Governance is a set of systems, processes and principles which ensure that a Company ŝƐ ŐŽǀĞƌŶĞĚ ŝŶ ƚŚĞ ďĞƐƚ ŝŶƚĞƌĞƐƚƐ ŽĨ Ăůů ƐƚĂŬĞŚŽůĚĞƌƐ͘ /ƚ ŝƐ ĂďŽƵƚ ƉƌŽŵŽƟŶŐ ĨĂŝƌŶĞƐƐ͕ ĞƋƵŝƚLJ͕ ƚƌĂŶƐƉĂƌĞŶĐLJ͕ĂĐĐŽƵŶƚĂďŝůŝƚLJĂŶĚƌĞƐƉĞĐƚĨŽƌůĂǁƐ͘dŚĞĂŝŵŽĨ͞'ŽŽĚŽƌƉŽƌĂƚĞ'ŽǀĞƌŶĂŶĐĞ͟ŝƐƚŽ ĞŶƐƵƌĞĐŽŵŵŝƚŵĞŶƚƚŽŵĂŶĂŐĞĂīĂŝƌƐŽĨƚŚĞŽŵƉĂŶLJŝŶĂƚƌĂŶƐƉĂƌĞŶƚŵĂŶŶĞƌĨŽƌŵĂdžŝŵŝƐŝŶŐ ůŽŶŐͲƚĞƌŵǀĂůƵĞŽĨƚŚĞŽŵƉĂŶLJĨŽƌŝƚƐƐŚĂƌĞŚŽůĚĞƌƐĂŶĚĂůůŽƚŚĞƌƐƚĂŬĞŚŽůĚĞƌƐ͘/ƚŝŶƚĞŐƌĂƚĞƐĂůůƚŚĞ ƉĂƌƟĐŝƉĂŶƚƐŝŶǀŽůǀĞĚŝŶĂƉƌŽĐĞƐƐ͕ǁŚŝĐŚŝƐĞĐŽŶŽŵŝĐ͕ĂŶĚĂƚƚŚĞƐĂŵĞƟŵĞƐŽĐŝĂů͘  ŽƌƉŽƌĂƚĞ ŐŽǀĞƌŶĂŶĐĞ ƉƌŽǀŝĚĞƐ Ă ƐƚƌƵĐƚƵƌĞ ƚŚĂƚ ǁŽƌŬƐ ĨŽƌ ƚŚĞ ďĞŶĞĮƚ ŽĨ ĞǀĞƌLJŽŶĞ ĐŽŶĐĞƌŶĞĚ͕ ďLJĞŶƐƵƌŝŶŐƚŚĂƚƚŚĞĞŶƚĞƌƉƌŝƐĞĂĚŚĞƌĞƐƚŽĞƚŚŝĐĂůƐƚĂŶĚĂƌĚƐ͕ůĂǁƐĂŶĚĂĐĐĞƉƚĞĚďĞƐƚƉƌĂĐƟĐĞƐ͘ /ƚŝŵďŝďĞƐƚŚĞďĂƐŝĐďƵƐŝŶĞƐƐĞƚŚŝĐƐĂŶĚǀĂůƵĞƐƚŚĂƚŶĞĞĚƚŽďĞĂĚŚĞƌĞĚƚŽŝŶůĞƩĞƌĂŶĚƐƉŝƌŝƚ͘ ƚƌĂŶƐƉĂƌĞŶƚ͕ĞƚŚŝĐĂůĂŶĚƌĞƐƉŽŶƐŝďůĞĐŽƌƉŽƌĂƚĞŐŽǀĞƌŶĂŶĐĞĨƌĂŵĞǁŽƌŬĞƐƐĞŶƟĂůůLJĞŵĂŶĂƚĞƐĨƌŽŵ ƚŚĞŝŶƚƌŝŶƐŝĐǁŝůůĂŶĚƉĂƐƐŝŽŶĨŽƌŐŽŽĚŐŽǀĞƌŶĂŶĐĞŝŶŐƌĂŝŶĞĚŝŶƚŚĞŽƌŐĂŶŝƐĂƟŽŶ͘  dŚĞŽƌƉŽƌĂƚĞ'ŽǀĞƌŶĂŶĐĞƉƌĂĐƟĐĞƐŽĨƚŚĞŽŵƉĂŶLJĂƌĞďĂƐĞĚŽŶƚŚĞĨŽůůŽǁŝŶŐďƌŽĂĚƉƌŝŶĐŝƉůĞƐ͗ ĂͿ ǁĞůůͲĞdžƉĞƌŝĞŶĐĞĚĂŶĚĚŝǀĞƌƐĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐ͕ǁŝƚŚĞdžƉĞƌƟƐĞŝŶŝŶĚƵƐƚƌLJƐƚƌĂƚĞŐLJ͕ĮŶĂŶĐĞ͕ ŵĂŶĂŐĞŵĞŶƚĂŶĚůĞŐĂů͖ ďͿ ĂĚŽƉƟŽŶŽĨƚƌĂŶƐƉĂƌĞŶƚƉƌŽĐĞƐƐĞƐ͕ƉƌŽĐĞĚƵƌĞƐĂŶĚƉƌĂĐƟĐĞƐ͖ ĐͿ ĞŶƐƵƌŝŶŐĐŽŵƉůŝĂŶĐĞǁŝƚŚƌĞŐƵůĂƚŽƌLJƌĞƋƵŝƌĞŵĞŶƚƐ͖ ĚͿ ŚŝŐŚůĞǀĞůƐŽĨĚŝƐĐůŽƐƵƌĞƐĨŽƌĚŝƐƐĞŵŝŶĂƟŽŶŽĨĐŽƌƉŽƌĂƚĞ͕ĮŶĂŶĐŝĂůĂŶĚŽƉĞƌĂƟŽŶĂůŝŶĨŽƌŵĂƟŽŶ ƚŽĂůůŝƚƐƐƚĂŬĞŚŽůĚĞƌƐ͖ ĞͿ ǁĞůůĚĞĮŶĞĚƐƚƌƵĐƚƵƌĞƚŚĂƚĞƐƚĂďůŝƐŚĞƐĐŚĞĐŬƐĂŶĚďĂůĂŶĐĞƐĂŶĚĚĞůĞŐĂƚĞƐĚĞĐŝƐŝŽŶŵĂŬŝŶŐƚŽ ĂƉƉƌŽƉƌŝĂƚĞůĞǀĞůƐŝŶƚŚĞŽƌŐĂŶŝƐĂƟŽŶ

90 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Governance Report

ϮΉ KZK&/ZdKZ^ ŝͿ ŽŵƉŽƐŝƟŽŶŽĨƚŚĞŽĂƌĚ  dŚĞŽŵƉĂŶLJŚĂƐĂŶĂƉƉƌŽƉƌŝĂƚĞŵŝdžŽĨdžĞĐƵƟǀĞĂŶĚEŽŶdžĞĐƵƟǀĞŝƌĞĐƚŽƌƐŝŶĐůƵĚŝŶŐ/ŶĚĞƉĞŶĚĞŶƚŝƌĞĐƚŽƌƐƚŽŵĂŝŶƚĂŝŶ ŝŶĚĞƉĞŶĚĞŶĐĞ ŽĨ ƚŚĞ ŽĂƌĚ͘ dŚĞ ŝƌĞĐƚŽƌƐ ŚĂǀĞ ĞdžƉĞƌƟƐĞ ŝŶ ƚŚĞ ĮĞůĚƐ ŽĨ ŝŶĚƵƐƚƌLJ ƐƚƌĂƚĞŐLJ͕ ŽƉĞƌĂƟŽŶƐ͕ ĮŶĂŶĐĞ͕ ůĞŐĂů ĂŶĚŵĂŶĂŐĞŵĞŶƚ͘dŚĞŽĂƌĚƉƌŽǀŝĚĞƐƐƚƌĂƚĞŐŝĐŐƵŝĚĂŶĐĞĂŶĚŝŶĚĞƉĞŶĚĞŶƚǀŝĞǁƐƚŽƚŚĞŽŵƉĂŶLJ͛ƐŵĂŶĂŐĞŵĞŶƚǁŚŝůĞ ĚŝƐĐŚĂƌŐŝŶŐŝƚƐĮĚƵĐŝĂƌLJƌĞƐƉŽŶƐŝďŝůŝƟĞƐ͘

 ^ƚƌƵĐƚƵƌĞŽĨŽĂƌĚ͕ŝƌĞĐƚŽƌƐŚŝƉŝŶKƚŚĞƌŽŵƉĂŶŝĞƐĂŶĚDĞŵďĞƌƐŚŝƉŽĨŽŵŵŝƩĞĞƐ  ^ƚƌƵĐƚƵƌĞŽĨŽĂƌĚŽĨŝƌĞĐƚŽƌƐĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϮͲϭϯ͕ĂƩĞŶĚĂŶĐĞĂƚŽĂƌĚŵĞĞƟŶŐƐĂŶĚŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐ ;'DͿŚĞůĚĚƵƌŝŶŐƚŚĞƐĂŝĚLJĞĂƌĂůŽŶŐǁŝƚŚƌĞƋƵŝƐŝƚĞŝŶĨŽƌŵĂƟŽŶŝŶƌĞƐƉĞĐƚŽĨŝƌĞĐƚŽƌƐĂƐƉĞƌƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐŽĨůĂƵƐĞϰϵ ŽĨƚŚĞůŝƐƟŶŐĂŐƌĞĞŵĞŶƚŝƐƉƌŽǀŝĚĞĚŝŶƚŚĞĨŽůůŽǁŝŶŐƚĂďůĞ͗Ͳ

^ƌ͘ Name and ĂƚĞŐŽƌLJ ƩĞŶĚĂŶĐĞŝŶ EƵŵďĞƌŽĨ ŽŵŵŝƩĞĞDĞŵďĞƌƐŚŝƉ ^ŚĂƌĞŚŽůĚŝŶŐ EŽ͘ ĞƐŝŐŶĂƟŽŶ;/EͿ &zϮϬϭϮͲϭϯ ŝƌĞĐƚŽƌƐŚŝƉŝŶ ĂŶĚŚĂŝƌŵĂŶƐŚŝƉŝŶKƚŚĞƌ ŝŶƚŚĞ KƚŚĞƌŽŵƉĂŶŝĞƐ ŽŵƉĂŶŝĞƐΎ ŽŵƉĂŶLJ ŽĂƌĚ AGM WƌŝǀĂƚĞ# WƵďůŝĐ ŚĂŝƌŵĂŶƐŚŝƉ DĞŵďĞƌƐŚŝƉ DĞĞƟŶŐ 1. Shri Ratan Jindal1 Promoter and 3/5 EŽ 7 7 0 0 2,03,070 Director (00054026) EŽŶʹdžĞĐƵƟǀĞ 2. ^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂů1 Promoter and 5/5 Yes 1 6 0 0 42,95,940 Chairman (00001523) džĞĐƵƟǀĞ 3. Smt. Shallu Jindal1 Promoter and 5/5 EŽ 12 0 0 0 Director (01104507) EŽŶʹdžĞĐƵƟǀĞ 4. Shri Ravi Uppal2 džĞĐƵƟǀĞ 3/3 E͘͘ 01 0 0 0 Managing Director & CEO (00025970) 5. ^ŚƌŝsŝŬƌĂŶƚ'ƵũƌĂů3 džĞĐƵƟǀĞ 2/3 E Ž E ͘  ͘ E ͘  ͘ E ͘  ͘ E ͘  ͘  E͘͘ Group Vice Chairman Θ,ĞĂĚ'ůŽďĂů Ventures (00011007) 6. Shri Anand Goel džĞĐƵƟǀĞ 4/5 EŽ 0 0 0 0 32,000 Joint Managing Director (00001635) 7. Shri Sushil Maroo4 džĞĐƵƟǀĞ 5/5 Yes 9 7 0 2 90,000 Deputy Managing Director (00054101) 8. Shri M.L. Gupta5 džĞĐƵƟǀĞ 0/3 EŽ E͘͘ E͘͘ E͘͘ E͘͘ E͘͘ tŚŽůĞƟŵĞŝƌĞĐƚŽƌ (02692887) 9. Shri Dinesh Kumar džĞĐƵƟǀĞ 1/3 E͘͘ 0 0 0 0 59.400 Saraogi6 tŚŽůĞƟŵĞŝƌĞĐƚŽƌ (06426609) 10. ^ŚƌŝEĂƵƐŚĂĚ džĞĐƵƟǀĞ 1/1 E͘͘ E͘͘ E͘͘ E͘͘ E͘͘ E͘͘ ŬŚƚĞƌŶƐĂƌŝ7 tŚŽůĞƟŵĞŝƌĞĐƚŽƌ (03340568) 11. Shri R.V. Shahi EŽŶdžĞĐƵƟǀĞĂŶĚ 5/5 Yes 3 2 1 0 0 Director (01337591) Independent 12. Shri A.K. Purwar EŽŶdžĞĐƵƟǀĞĂŶĚ 5/5 EŽ 69 2 5 0 Director (00026383) Independent 13. Shri Arun Kumar EŽŶdžĞĐƵƟǀĞĂŶĚ 5/5 EŽ 00 0 0 0 Director (01772163) Independent

91 Annual Report 2012-13 ^ƌ͘ Name and ĂƚĞŐŽƌLJ ƩĞŶĚĂŶĐĞŝŶ EƵŵďĞƌŽĨ ŽŵŵŝƩĞĞDĞŵďĞƌƐŚŝƉ ^ŚĂƌĞŚŽůĚŝŶŐ EŽ͘ ĞƐŝŐŶĂƟŽŶ;/EͿ &zϮϬϭϮͲϭϯ ŝƌĞĐƚŽƌƐŚŝƉŝŶ ĂŶĚŚĂŝƌŵĂŶƐŚŝƉŝŶKƚŚĞƌ ŝŶƚŚĞ KƚŚĞƌŽŵƉĂŶŝĞƐ ŽŵƉĂŶŝĞƐΎ ŽŵƉĂŶLJ ŽĂƌĚ AGM WƌŝǀĂƚĞ# WƵďůŝĐ ŚĂŝƌŵĂŶƐŚŝƉ DĞŵďĞƌƐŚŝƉ DĞĞƟŶŐ 14. Shri Haigreve Khaitan EŽŶdžĞĐƵƟǀĞĂŶĚ 3/5 EŽ 1140 9 0 Director (00005290) Independent 15. ^Śƌŝ,ĂƌĚŝƉ^ŝŶŐŚtŝƌŬ EŽŶdžĞĐƵƟǀĞĂŶĚ 5/5 EŽ 01 0 1 0 Director (00995449) Independent 16. Shri Rahul Mehra8 EŽŶdžĞĐƵƟǀĞĂŶĚ 2/2 EŽ E͘͘ E͘͘ E͘͘ E͘͘ E͘͘ Director (01001368) Independent 17. Shri Sudershan Kumar EŽŶdžĞĐƵƟǀĞĂŶĚ 3/3 E͘͘ 01 0 0 0 Garg9 Independent Director (00055651) 18. Shri Inderpal Singh EŽŶdžĞĐƵƟǀĞĂŶĚ 4/4 EŽ E͘͘ E͘͘ E͘͘ E͘͘ E͘͘ Kalra10 Independent EŽŵŝŶĞĞŝƌĞĐƚŽƌ ;//ĂŶŬ>ŝŵŝƚĞĚͿ (00307410)

EŽƚĞ͗ ϭ džĐĞƉƚ^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂůĂŶĚ^ŚƌŝZĂƚĂŶ:ŝŶĚĂů͕ ϲ ^Śƌŝ ŝŶĞƐŚ <ƵŵĂƌ ^ĂƌĂŽŐŝ ǁĂƐ ĂƉƉŽŝŶƚĞĚ ĂŶ ĚĚŝƟŽŶĂů ǁŚŽ ĂƌĞ ďƌŽƚŚĞƌƐ ĂŶĚ ^ŵƚ͘ ^ŚĂůůƵ :ŝŶĚĂů͕ ǁŝĨĞ ŝƌĞĐƚŽƌ ĂŶĚ tŚŽůĞƟŵĞ ŝƌĞĐƚŽƌ ďLJ ƚŚĞ ŽĂƌĚ ǁ͘Ğ͘Ĩ ϵƚŚ ŽĨ ^Śƌŝ EĂǀĞĞŶ :ŝŶĚĂů͕ ŶŽ ŽƚŚĞƌ ŝƌĞĐƚŽƌ ŝƐ Ă EŽǀĞŵďĞƌ͕ϮϬϭϮ͘ ƌĞůĂƟǀĞ ŽĨ ĂŶLJ ŽƚŚĞƌ ŝƌĞĐƚŽƌ;ƐͿ͘ ^Śƌŝ EĂǀĞĞŶ Jindal resigned from the Managing Directorship ϳ ^ŚƌŝEĂƵƐŚĂĚŬŚƚĞƌŶƐĂƌŝƌĞƐŝŐŶĞĚĨƌŽŵƚŚĞŝƌĞĐƚŽƌƐŚŝƉ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ĨƌŽŵ ƚŚĞ ĐůŽƐĞ ŽĨ ďƵƐŝŶĞƐƐ ĂŶĚtŚŽůĞƟŵĞŝƌĞĐƚŽƌƐŚŝƉŽĨƚŚĞŽŵƉĂŶLJĨƌŽŵƚŚĞĐůŽƐĞ ŚŽƵƌƐŽĨϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϮ͘,ĞĐŽŶƟŶƵĞƐ ŽĨďƵƐŝŶĞƐƐŚŽƵƌƐŽĨϭƐƚDĂLJ͕ϮϬϭϮ͘ ƚŽďĞƚŚĞŚĂŝƌŵĂŶŽĨƚŚĞŽŵƉĂŶLJ͘ 8 Shri Rahul Mehra resigned from the Directorship of the 2 Shri Ravi Uppal was appointed as Managing ŽŵƉĂŶLJǁ͘Ğ͘Ĩ͘ϱƚŚKĐƚŽďĞƌ͕ϮϬϭϮ͘ ŝƌĞĐƚŽƌΘKǁ͘Ğ͘Ĩ͘ϭƐƚKĐƚŽďĞƌ͕ϮϬϭϮ͘ ϵ ^Śƌŝ^ƵĚĞƌƐŚĂŶ<ƵŵĂƌ'ĂƌŐǁĂƐĂƉƉŽŝŶƚĞĚĂƐĂŶĚĚŝƟŽŶĂů ϯ ^Śƌŝ sŝŬƌĂŶƚ 'ƵũƌĂů ƌĞƐŝŐŶĞĚ ĨƌŽŵ ƚŚĞ ŝƌĞĐƚŽƌͲ/ŶĚĞƉĞŶĚĞŶƚǁ͘Ğ͘Ĩ͘ϵƚŚEŽǀĞŵďĞƌ͕ϮϬϭϮ͘ ŝƌĞĐƚŽƌƐŚŝƉĂŶĚtŚŽůĞƟŵĞŝƌĞĐƚŽƌƐŚŝƉŽĨƚŚĞ ϭϬ // ĂŶŬ >ŝŵŝƚĞĚ ŚĂƐ ǁŝƚŚĚƌĂǁŶ ƚŚĞ ŶŽŵŝŶĂƟŽŶ ŽĨ ŽŵƉĂŶLJĨƌŽŵƚŚĞĐůŽƐĞŽĨďƵƐŝŶĞƐƐŚŽƵƌƐŽĨ ^Śƌŝ /ŶĚĞƌƉĂů ^ŝŶŐŚ <ĂůƌĂ ǁ͘Ğ͘Ĩ͘ ϭϳƚŚ &ĞďƌƵĂƌLJ͕ ϮϬϭϯ ĂŶĚ ϵƚŚEŽǀĞŵďĞƌ͕ϮϬϭϮ͘ ŶŽŵŝŶĂƚĞĚ^ŚƌŝũŝƚD͘/ŶŐůĞŽŶƚŚĞŽĂƌĚ͘ 4 Shri Sushil Maroo was appointed as Deputy Managing Director of the Company w.e.f. η ŝŶĐůƵĚĞƐĚŝƌĞĐƚŽƌƐŚŝƉŝŶĨŽƌĞŝŐŶĂŶĚ^ĞĐƟŽŶϮϱĐŽŵƉĂŶŝĞƐ͘ 1st April, 2013. Ύ /ŶĐůƵĚĞƐ ŽŶůLJ ƵĚŝƚ ŽŵŵŝƩĞĞ ĂŶĚ ^ŚĂƌĞŚŽůĚĞƌƐ͛ ͬ 5 Shri M. L. Gupta resigned from the Directorship /ŶǀĞƐƚŽƌƐ͛ 'ƌŝĞǀĂŶĐĞ ŽŵŵŝƩĞĞ ŝŶ Ăůů ƉƵďůŝĐ ůŝŵŝƚĞĚ ĂŶĚ tŚŽůĞƟŵĞ ŝƌĞĐƚŽƌƐŚŝƉ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ĐŽŵƉĂŶŝĞƐ ;ǁŚĞƚŚĞƌ ůŝƐƚĞĚ Žƌ ŶŽƚͿ ĂŶĚ ĞdžĐůƵĚĞƐ ƉƌŝǀĂƚĞ ĨƌŽŵ ƚŚĞ ĐůŽƐĞ ŽĨ ďƵƐŝŶĞƐƐ ŚŽƵƌƐ ŽĨ ůŝŵŝƚĞĚ ĐŽŵƉĂŶŝĞƐ͕ ĨŽƌĞŝŐŶ ĐŽŵƉĂŶŝĞƐ ĂŶĚ ^ĞĐƟŽŶ Ϯϱ ϵƚŚEŽǀĞŵďĞƌ͕ϮϬϭϮ͘ companies.

92 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Governance Report

ƌŝĞĨWƌŽĮůĞŽĨƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐ Limited, Jindal Synergy Investment Limited, Salasar Finvest ^Śƌŝ EĂǀĞĞŶ :ŝŶĚĂů͕ ^Śƌŝ ƌƵŶ <ƵŵĂƌ ĂŶĚ ^Śƌŝ Z͘ s͘ ^ŚĂŚŝ ǁŝůů >ŝŵŝƚĞĚ͕ DŝƌĂĐůĞ &ŽƵŶĚĂƟŽŶ /ŶĚŝĂ ĂŶĚ dŚĞ ĞůŚŝ ĂŶĚ ŝƐƚƌŝĐƚ ƌĞƟƌĞ Ăƚ ƚŚĞ ĨŽƌƚŚĐŽŵŝŶŐ ŶŶƵĂů 'ĞŶĞƌĂů DĞĞƟŶŐ ďƵƚ ďĞŝŶŐ ƌŝĐŬĞƚƐƐŽĐŝĂƟŽŶ>ŝŵŝƚĞĚ͘ ĞůŝŐŝďůĞŚĂǀĞŽīĞƌĞĚƚŚĞŵƐĞůǀĞƐĨŽƌƌĞͲĂƉƉŽŝŶƚŵĞŶƚĂƐŝƌĞĐƚŽƌƐ ^ŵƚ͘^ŚĂůůƵ:ŝŶĚĂůŝƐĂEŽŶʹdžĞĐƵƟǀĞŝƌĞĐƚŽƌŽĨƚŚĞŽŵƉĂŶLJ͘ ŽĨƚŚĞŽŵƉĂŶLJůŝĂďůĞƚŽƌĞƟƌĞďLJƌŽƚĂƟŽŶ͘^ŚƌŝZĂǀŝhƉƉĂůǁĂƐ She is a renowned Kuchipudi dancer and has performed with ĂƉƉŽŝŶƚĞĚĂƐĂŶĚĚŝƟŽŶĂůŝƌĞĐƚŽƌǁ͘Ğ͘Ĩ͘ϭƐƚKĐƚŽďĞƌ͕ϮϬϭϮĂŶĚ ŵƵĐŚ ĂĐĐůĂŝŵ ĂŶĚ ĂůĂĐƌŝƚLJ͕ ďŽƚŚ ŶĂƟŽŶĂůůLJ ĂŶĚ ŝŶƚĞƌŶĂƟŽŶĂůůLJ Shri Dinesh Kumar Saraogi and Shri Sudershan Kumar Garg were ŝŶĐůƵĚŝŶŐĂƚƉƌĞƐƟŐŝŽƵƐĚĂŶĐĞĨĞƐƟǀĂůƐĂƚůůŽƌĂ͕<ŚĂũƵƌĂŚŽ͕,ĂŵƉŝ͕ ĂƉƉŽŝŶƚĞĚĂƐĚĚŝƟŽŶĂůŝƌĞĐƚŽƌƐǁ͘Ğ͘Ĩ͘ϵƚŚEŽǀĞŵďĞƌ͕ϮϬϭϮ͘Ɛ ůĞƉŚĂŶƚĂ͕ DŽŶƚĞ͕ <ŝŶŬŝŶŝ͕ ŚŝĚĂŵďĂƌĂŵ͕ ŚĂŬƌĂĚŚĂƌ^ĂŵĂƌŽŚ͕ ƉĞƌƐĞĐƟŽŶϮϱϳŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲ͕ƚŚĞLJŚĂǀĞŽīĞƌĞĚ <ƌŝƐŚŶĂ'ĂŶĂ^ĂďŚĂ͕EĂƚLJĂŶũĂůŝ͕ŚŽǁŵĂŚĂůůĂĞƚĐ͘^ŚĞƌĞŐƵůĂƌůLJ their candidature for appointment as Directors in the forthcoming ŐŝǀĞƐƌĞĐŝƚĂůƐĂƚǀĂƌŝŽƵƐǀĞŶƵĞƐĂĐƌŽƐƐ/ŶĚŝĂĂŶĚĂďƌŽĂĚ͘ ŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐ͘ ^ŚĞǁĂƐŚŽŶŽƵƌĞĚǁŝƚŚƚŚĞϮŶĚĂĂĚŚŝĂďĂĚŝtŽŵĞŶĐŚŝĞǀĞƌƐ PROFILE ǁĂƌĚ͕ϮϬϭϬĂŶĚƚŚĞ͞/ŶĚŝƌĂ'ĂŶĚŚŝWƌŝLJĂĚĂƌƐŚŝŶŝǁĂƌĚϮϬϬϳ͟ ĨŽƌŚĞƌŽƵƚƐƚĂŶĚŝŶŐĂĐŚŝĞǀĞŵĞŶƚƐŝŶƚŚĞĮĞůĚŽĨ/ŶĚŝĂŶĐůĂƐƐŝĐĂů ^ŚƌŝZĂƚĂŶ:ŝŶĚĂůŝƐĂEŽŶʹdžĞĐƵƟǀĞŝƌĞĐƚŽƌŽŶƚŚĞŽĂƌĚŽĨ the Company and Vice Chairman and Managing Director of Jindal ĚĂŶĐĞ;<ƵĐŚŝƉƵĚŝͿĂŶĚĐŽŶƚƌŝďƵƟŽŶŝŶƚŚĞĮĞůĚŽĨĂƌƚĂŶĚĐƵůƚƵƌĞ͕ Stainless Limited. He is a commerce graduate and has completed ĞĚƵĐĂƟŽŶĂŶĚĐŽŵŵƵŶŝƚLJĚĞǀĞůŽƉŵĞŶƚ͘ ĂŶ ĚǀĂŶĐĞĚ DĂŶĂŐĞŵĞŶƚ WƌŽŐƌĂŵ ĨƌŽŵ tŚĂƌƚŽŶ ƵƐŝŶĞƐƐ ^ŚĞǁĂƐĂǁĂƌĚĞĚƚŚĞϮϬϭϮZĞdž<ĂƌŵĂǀĞĞƌWƵƌĂƐŬĂĂƌʹ͞ĂƌƟƐƚĨŽƌ School, USA. He was appointed as Director Jindal Strips Limited in ĐŚĂŶŐĞ͟ ĨŽƌ ŚĞƌ ŽƵƚƐƚĂŶĚŝŶŐ ƐĞƌǀŝĐĞƐ ĂŶĚ ĂĐŚŝĞǀĞŵĞŶƚƐ ŝŶ ƚŚĞ ϭϵϳϵĂŶĚďĞĐĂŵĞƚŚĞDĂŶĂŐŝŶŐŝƌĞĐƚŽƌŝŶϭϵϴϵ͘,ĞďĞĐĂŵĞsŝĐĞ ĮĞůĚŽĨ/ŶĚŝĂŶůĂƐƐŝĐĂůĂŶĐĞ;<ƵĐŚŝƉƵĚŝͿ͘dŚĞĂǁĂƌĚĂůƐŽŵĂƌŬƐ Chairman and Managing Director of Jindal Stainless Limited in July, ŚĞƌĐŽŶƚƌŝďƵƟŽŶƐƚŽǁĂƌĚƐƐŽĐŝĂůĂĐƟǀŝƟĞƐƚŚƌŽƵŐŚƚŚĞĮĞůĚŽĨĂƌƚ ϮϬϬϯ͘,ĞŚĂƐǁŝĚĞŬŶŽǁůĞĚŐĞĂŶĚĞdžƉĞƌŝĞŶĐĞŽĨƐƚĞĞůŝŶĚƵƐƚƌLJ͘ ĂŶĚ ĐƵůƚƵƌĞ͕ ĞĚƵĐĂƟŽŶ ĂŶĚ ĐŽŵŵƵŶŝƚLJ ĚĞǀĞůŽƉŵĞŶƚ͘ ^ŚĞ ŚĂƐ ,ĞŝƐŽŶƚŚĞŽĂƌĚŽĨƚŚĞ/ŶƚĞƌŶĂƟŽŶĂů^ƚĂŝŶůĞƐƐ^ƚĞĞů&ŽƌƵŵ͘,Ğ ĂůƐŽďĞĞŶĂǁĂƌĚĞĚǁŝƚŚƚŚĞ/ŶƚĞƌŶĂƟŽŶĂůtŽŵĞŶ͛ƐĂLJĂǁĂƌĚ ŝƐĂŵĞŵďĞƌŽĨǀĂƌŝŽƵƐŶĂƟŽŶĂůĂŶĚŝŶƚĞƌŶĂƟŽŶĂůŽƌŐĂŶŝƐĂƟŽŶƐ͕ ƵŶĚĞƌ ƚŚĞ ĐĂƚĞŐŽƌLJ ŽĨ ͚ĂŶĐĞ͛ ;/t ĂǁĂƌĚͿ ďLJ /hEZ ;/ŶĚŝĂŶ ŝŶĐůƵĚŝŶŐƚŚĞh^ďĂƐĞĚzŽƵŶŐWƌĞƐŝĚĞŶƚ͛ƐKƌŐĂŶŝƐĂƟŽŶ͕ƚŚĞ//͕ ŽƵŶĐŝůĨŽƌhEZĞůĂƟŽŶƐͿ͘ &//͕ ƚŚĞ WƵŶũĂď͕ ,ĂƌLJĂŶĂ ĂŶĚ ĞůŚŝ ŚĂŵďĞƌ ŽĨ ŽŵŵĞƌĐĞ ^ŚĞ ĐŽͲĐŚĂŝƌƐ :^W> &ŽƵŶĚĂƟŽŶ ǁŝƚŚ ŚĞƌ ŚƵƐďĂŶĚ ^Śƌŝ EĂǀĞĞŶ ĂŶĚ /ŶĚƵƐƚƌLJ͕ /ŶƚĞƌŶĂƟŽŶĂů /ƌŽŶ ĂŶĚ ^ƚĞĞů /ŶƐƟƚƵƚĞ͕ /^^ ĂŶĚ :ŝŶĚĂůĂŶĚƐƉĞĂƌŚĞĂĚŝŶŐƚŚĞ^ZŝŶŝƟĂƟǀĞƐŽĨƚŚĞĐŽŶŐůŽŵĞƌĂƚĞ͘ EŝĐŬĞůĞǀĞůŽƉŵĞŶƚ/ŶƐƟƚƵƚĞ͘,ĞŝƐĂŵĞŵďĞƌŽĨƚŚĞŽĂƌĚŽĨ ^ŚĞ ĨŽĐƵƐĞƐ ŽŶ ƉĂƌƟĐŝƉĂƟŽŶ ŝŶ ĮĞůĚ ŽĨ ŚŝůĚƌĞŶ͕ ĚƵĐĂƟŽŶ Management of CCS Agriculture University, Haryana. He is also ĂŶĚ ,ĞĂůƚŚ ƚŚƌŽƵŐŚ ŚĞƌ ĨŽƵŶĚĂƟŽŶƐ͘ ^ŚĞ ĮƌŵůLJ ďĞůŝĞǀĞƐ ƚŚĂƚ ĂŝƌĞĐƚŽƌŽŶƚŚĞŽĂƌĚŽĨ^ŚĂůŝŵĂƌWĂŝŶƚƐ>ŝŵŝƚĞĚ͕EĂůǁĂ&ĂƌŵƐ ŝŶĐůƵƐŝǀĞŐƌŽǁƚŚĐĂŶŽŶůLJĐŽŵĞĂďŽƵƚŝĨǁĞĞŶƐƵƌĞƚŚĂƚƚŚĞƌĞŝƐ WƌŝǀĂƚĞ>ŝŵŝƚĞĚ͕^ŽŶĂďŚĞĞůdĞĂ>ŝŵŝƚĞĚ͕:ŝŶĚĂů/ŶĚƵƐƚƌŝĞƐ>ŝŵŝƚĞĚ͕ ŶŽĚŝƐƟŶĐƟŽŶŵĂĚĞǁŝƚŚƌĞŐĂƌĚƚŽĐĂƐƚĞ͕ĐƌĞĞĚ͕ƌĞůŝŐŝŽŶ͕ĨĂŝƚŚŽƌ KW:ŝŶǀĞƐƚŵĞŶƚΘ,ŽůĚŝŶŐƐ>ŝŵŝƚĞĚ͕EĂůǁĂ&ŝŶĐĂƉ>ŝŵŝƚĞĚ͕EĂůǁĂ ŐĞŶĚĞƌ͘tŽƌŬŝŶŐƚŽǁĂƌĚƐĞĚƵĐĂƟŶŐĨŽƌďĞƩĞƌŵŝŶĚƐĂŶĚŚĞůƉŝŶŐ &ŝŶĂŶĐŝĂů ^ĞƌǀŝĐĞƐ >ŝŵŝƚĞĚ͕ :ŝŶĚĂů ^ƚĂŝŶůĞƐƐ DĂƵƌŝƟƵƐ >ŝŵŝƚĞĚ͕ ƚŚĞ ƵŶĚĞƌƉƌŝǀŝůĞŐĞĚ ŐĞƚ ĂĐĐĞƐƐ ƚŽ ƚŚĞ ďĞƐƚ ŝŶ ĞĚƵĐĂƟŽŶ ŝƐ ƚŚĞ Jindal Stainless FZE Limited, JSL Group Holding Pte. Limited, JSL ŵŽƩŽ ŽĨ ŚĞƌ ůŝĨĞ͘ tŽŵĞŶ ĞŵƉŽǁĞƌŵĞŶƚ ĂŶĚ ǁŽƌŬŝŶŐ ĨŽƌ ƚŚĞ Ventures Pte. Limited, JSL Europe SA, Jindal Stainless UK Limited. ĚĞƉƌŝǀĞĚƐĞĐƟŽŶƐŽĨƚŚĞƐŽĐŝĞƚLJĂƌĞŝƐƐƵĞƐĐůŽƐĞƚŽŚĞƌŚĞĂƌƚ͘^ŚĞ ^Śƌŝ EĂǀĞĞŶ :ŝŶĚĂů is the Chairman of the Company, Jindal ŝƐsŝĐĞͲWƌĞƐŝĚĞŶƚŽĨƚŚĞ&ůĂŐ&ŽƵŶĚĂƟŽŶŽĨ/ŶĚŝĂĂŶĚŚĂƐŝŶŝƟĂƚĞĚ WŽǁĞƌ >ŝŵŝƚĞĚ͕ ƚŚĞ ƐƵďƐŝĚŝĂƌLJ ĐŽŵƉĂŶLJ ĂŶĚ :ŝŶĚĂů WĞƚƌŽůĞƵŵ ǀĂƌŝŽƵƐĐƌĞĂƟǀĞǀĞŶƚƵƌĞƐ͘ >ŝŵŝƚĞĚ͘ ,Ğ ŚŽůĚƐ Ă ŵĂƐƚĞƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ďƵƐŝŶĞƐƐ ŵĂŶĂŐĞŵĞŶƚ ^ŚĞŝƐĂůƐŽŝƌĞĐƚŽƌŽŶƚŚĞŽĂƌĚŽĨEĂůǁĂ^ƚĞĞůΘWŽǁĞƌ>ŝŵŝƚĞĚ͕ ĨƌŽŵƚŚĞhŶŝǀĞƌƐŝƚLJŽĨdĞdžĂƐĂƚĂůůĂƐ͕h^͘,ĞǁĂƐƚŚĞDĂŶĂŐŝŶŐ :ŝŶĚĂů ^ƚĞĞů Θ WŽǁĞƌ ;DĂƵƌŝƟƵƐͿ >ŝŵŝƚĞĚ ĂŶĚ DĂŶƐĂƌŽǀĂƌ Director of the Company for the past fourteen years. Under his Investment Limited. ĂďůĞůĞĂĚĞƌƐŚŝƉĂŶĚŐƵŝĚĂŶĐĞ͕ƚŚĞŽŵƉĂŶLJĐŽŵƉůĞƚĞĚǀĂƌŝŽƵƐ ĞdžƉĂŶƐŝŽŶƉůĂŶƐĂŶĚŶĞǁƉƌŽũĞĐƚƐƐƵĐĐĞƐƐĨƵůůLJĂŶĚĂĐŚŝĞǀĞĚŚŝŐŚ ^Śƌŝ ZĂǀŝ hƉƉĂů is Managing Director & CEO of the Company. ůĞǀĞůƐŽĨŐƌŽǁƚŚĂŶĚŚĂƐĞƐƚĂďůŝƐŚĞĚŝƚƐĨŽŽƚƉƌŝŶƚƐŐůŽďĂůůLJ͘,Ğ ,ĞŝƐĂDĞĐŚĂŶŝĐĂůŶŐŝŶĞĞƌĨƌŽŵ/ŶĚŝĂŶ/ŶƐƟƚƵƚĞŽĨdĞĐŚŶŽůŽŐLJ͕ was among the 25 Indians who were a part of the annual list of ĞůŚŝĂŶĚĂŶĂůƵŵŶƵƐŽĨ/ŶĚŝĂŶ/ŶƐƟƚƵƚĞŽĨDĂŶĂŐĞŵĞŶƚ;//DͿ͕ ϮϱϬzŽƵŶŐ'ůŽďĂů>ĞĂĚĞƌƐŝŶϮϬϬϳŝƐƐƵĞĚďLJƚŚĞtŽƌůĚĐŽŶŽŵŝĐ ŚŵĞĚĂďĂĚ͘,ĞŚĂƐĂůƐŽĐŽŵƉůĞƚĞĚŚŝƐĚǀĂŶĐĞĚDĂŶĂŐĞŵĞŶƚ &ŽƌƵŵ͘,ĞŚĂƐďĞĞŶƌĂŶŬĞĚĂƐ/ŶĚŝĂ͛ƐĞƐƚKďLJƚŚĞdͲ/E^Ͳ WƌŽŐƌĂŵĨƌŽŵtŚĂƌƚŽŶƵƐŝŶĞƐƐ^ĐŚŽŽů͕h^͘,ĞďƌŝŶŐƐǁŝƚŚŚŝŵ ,Z^ƚƵĚLJĂŶĚ:^W>ǁĂƐƌĂƚĞĚĂƐƚŚĞǀĂůƵĞĐƌĞĂƚŽƌŝŶ/ŶĚŝĂĨŽƌ ŵŽƌĞƚŚĂŶϯϲLJĞĂƌƐŽĨĞdžƉĞƌŝĞŶĐĞŽĨǁŽƌŬŝŶŐŝŶĞŶŐŝŶĞĞƌŝŶŐĂŶĚ ƚŚĞƉĞƌŝŽĚϭϵϵϱƚŽϮϬϭϭďLJƚŚĞƵƐŝŶĞƐƐdŽĚĂLJ͘,ĞŚĂƐĂůƐŽďĞĞŶ ŝŶĨƌĂƐƚƌƵĐƚƵƌĂůƐĞŐŵĞŶƚƐŝŶ/ŶĚŝĂĂŶĚĂďƌŽĂĚ͘,ĞŚĂƐƐƵĐĐĞƐƐĨƵůůLJ ƌĂŶŬĞĚĂŵŽŶŐƚŚĞƚŽƉƚĞŶ/ŶĚŝĂ/ŶĐ͛ƐDŽƐƚWŽǁĞƌĨƵůK͛ƐϮϬϭϭ ƐĞƚ ƵƉ ƐĞǀĞƌĂů ŶĞǁ ďƵƐŝŶĞƐƐĞƐ ĂŶĚ ĂůƐŽ ƚƵƌŶĞĚ ĂƌŽƵŶĚ ůŽǁ ůŝƐƚďLJĐŽŶŽŵŝĐdŝŵĞƐͲŽƌƉŽƌĂƚĞŽƐƐŝĞƌ͘,ĞŚĂƐďĞĞŶĐŽŶĨĞƌƌĞĚ ƉĞƌĨŽƌŵŝŶŐ ƵŶŝƚƐ ŝŶ ƚŚĞ ƉĂƐƚ͘ ,Ğ ŚĂƐ ǁŽƌŬĞĚ Ăƚ ǀĂƌŝŽƵƐ ƐĞŶŝŽƌ with the Ernst and Young Entrepreneur of the year Award 2010 ŵĂŶĂŐĞƌŝĂůƉŽƐŝƟŽŶƐŝŶ>ĂƌƐĞŶΘdŽƵďƌŽ>ŝŵŝƚĞĚ͕/ŶĚŝĂĂŶĚ ŝŶĮĞůĚŽĨŶĞƌŐLJΘ/ŶĨƌĂƐƚƌƵĐƚƵƌĞ͘,ĞǁĂƐƌĞͲĞůĞĐƚĞĚƚŽ/ŶĚŝĂŶ sŽůǀŽ /ŶĚŝĂ͘ /ŵŵĞĚŝĂƚĞůLJ ďĞĨŽƌĞ ũŽŝŶŝŶŐ ƚŚĞ ŽŵƉĂŶLJ͕ ŚĞ ǁĂƐ WĂƌůŝĂŵĞŶƚ ŝŶ ϮϬϬϵ ŝŶ ƚŚĞ ϭϱƚŚ >ŽŬ ^ĂďŚĂ ĞůĞĐƟŽŶƐ͘ ,Ğ ŝƐ Ă tŚŽůĞƟŵĞŝƌĞĐƚŽƌĂŶĚWƌĞƐŝĚĞŶƚΘKʹWŽǁĞƌĂƚ>ĂƌƐĞŶΘ ŵĞŵďĞƌŽĨWƵďůŝĐĐĐŽƵŶƚƐŽŵŵŝƩĞĞĂŶĚŽƚŚĞƌWĂƌůŝĂŵĞŶƚĂƌLJ dŽƵďƌŽ'ƌŽƵƉ͘ĞĨŽƌĞƚŚĂƚ͕ŚĞǁĂƐƚŚĞWƌĞƐŝĚĞŶƚ͕'ůŽďĂůDĂƌŬĞƚƐ ŽŵŵŝƩĞĞƐ͘,ĞŝƐĂůƐŽĂŝƌĞĐƚŽƌŽŶƚŚĞŽĂƌĚŽĨ:ŝŶĚĂů^ƚĂŝŶůĞƐƐ ΘdĞĐŚŶŽůŽŐLJǁŝƚŚ'ƌŽƵƉĂŶĚŵĞŵďĞƌŽĨ'ƌŽƵƉdžĞĐƵƟǀĞ

93 Annual Report 2012-13 ŽŵŵŝƩĞĞ ŽĨ  'ƌŽƵƉ͕ ƵƌŝĐŚ͕ ^ǁŝƚnjĞƌůĂŶĚ ĂŶĚ ŚĂŝƌŵĂŶ >ŝŵŝƚĞĚ͕:ŝŶĚĂůWĞƚƌŽůĞƵŵKƉĞƌĂƟŶŐŽŵƉĂŶLJ>>͕:ŝŶĚĂůDŝŶŝŶŐ ŽĨ ͕ /ŶĚŝĂ ĂŶĚ ĨŽƵŶĚŝŶŐ DĂŶĂŐŝŶŐ ŝƌĞĐƚŽƌ Θ ŽƵŶƚƌLJ ΘdžƉůŽƌĂƟŽŶ>ŝŵŝƚĞĚ͕:ŝŶĚĂů/ŶǀĞƐƚŵĞŶƚƐ,ŽůĚŝŶŐƐ>ŝŵŝƚĞĚ͕:ŝŶĚĂů DĂŶĂŐĞƌŽĨsŽůǀŽ/ŶĚŝĂ͘,ĞŝƐŝƌĞĐƚŽƌŽŶƚŚĞŽĂƌĚŽĨ^ƵnjůŽŶ Africa Investments (Pty) Limited, Jindal Minerals & Metals Africa ŶĞƌŐLJ >ŝŵŝƚĞĚ͘ ,Ğ ŝƐ ĂůƐŽ ŵĞŵďĞƌ ŽĨ ,ĞĂůƚŚ͕ ^ĂĨĞƚLJ͕ ^Z ĂŶĚ >ŝŵŝƚĞĚ͕tŽƌƚŚKǀĞƌƐĞĂƐ>ŝŵŝƚĞĚ͘,ĞŝƐĂůƐŽŵĞŵďĞƌŽĨƵĚŝƚ ŶǀŝƌŽŶŵĞŶƚĐŽŵŵŝƩĞĞŽĨƚŚĞŽŵƉĂŶLJ͘ ŽŵŵŝƩĞĞ ŽĨ ƚŚĞ ŽŵƉĂŶLJ͕ :ŝŶĚĂů WŽǁĞƌ >ŝŵŝƚĞĚ ĂŶĚ :ŝŶĚĂů WĞƚƌŽůĞƵŵ >ŝŵŝƚĞĚ ĂŶĚ ŵĞŵďĞƌ ŽĨ ^ŚĂƌĞŚŽůĚĞƌƐ͛ͬ/ŶǀĞƐƚŽƌ͛Ɛ ^Śƌŝ ŶĂŶĚ 'ŽĞů is Joint Managing Director of the Company. ŐƌŝĞǀĂŶĐĞĐŽŵŵŝƩĞĞŽĨƚŚĞŽŵƉĂŶLJ͘ ,Ğ ŚŽůĚƐ Ă DĂƐƚĞƌ͛Ɛ ĞŐƌĞĞ ŝŶ ƵƐŝŶĞƐƐ ĚŵŝŶŝƐƚƌĂƟŽŶ ĨƌŽŵ /d^͕WŝůĂŶŝĂŶĚŚĂƐƚŚŝƌƚLJƐĞǀĞŶLJĞĂƌƐŽĨǁŽƌŬŝŶŐĞdžƉĞƌŝĞŶĐĞŝŶ ^Śƌŝ ŝŶĞƐŚ <ƵŵĂƌ ^ĂƌĂŽŐŝ ŝƐ Ă tŚŽůĞƟŵĞ ŝƌĞĐƚŽƌ ŽĨ ƚŚĞ steel industry. He has served Jindal Strips Limited for 26 years ŽŵƉĂŶLJ͘,ĞŚŽůĚƐĂďĂĐŚĞůŽƌ͛ƐĚĞŐƌĞĞŝŶDĞĐŚĂŶŝĐĂůŶŐŝŶĞĞƌŝŶŐ ŝŶǀĂƌŝŽƵƐƐĞŶŝŽƌŵĂŶĂŐĞƌŝĂůƉŽƐŝƟŽŶƐ͘,ĞǁĂƐĂƉƉŽŝŶƚĞĚŽŶƚŚĞ ĨƌŽŵƚŚĞ'ŽǀĞƌŶŵĞŶƚŶŐŝŶĞĞƌŝŶŐŽůůĞŐĞ͕:ĂďĂůƉƵƌ͘,ĞŚĂƐĂŶ ŽĂƌĚŽĨƚŚĞŽŵƉĂŶLJŽŶϵƚŚDĂLJ͕ϭϵϵϴĂŶĚǁĂƐĂƉƉŽŝŶƚĞĚĂƐ ĞdžƉĞƌŝĞŶĐĞŽĨϯϭLJĞĂƌƐŝŶƚŚĞĮĞůĚŽĨƐƚĞĞůĂŶĚƉŽǁĞƌĂŶĚŚĂƐďĞĞŶ ĂtŚŽůĞƟŵĞŝƌĞĐƚŽƌŽĨƚŚĞŽŵƉĂŶLJǁ͘Ğ͘Ĩ͘ϭƐƚƵŐƵƐƚ͕ϮϬϬϬ͘ ǁŽƌŬŝŶŐǁŝƚŚƚŚĞŽŵƉĂŶLJƐŝŶĐĞϭϵϴϴĂƚǀĂƌŝŽƵƐƐĞŶŝŽƌƉŽƐŝƟŽŶƐ͘ He was promoted as Deputy Managing Director from 1st August, ,ĞŝƐƉƌĞƐĞŶƚůLJŚĞĂĚŝŶŐƚŚĞŝŶƚĞŐƌĂƚĞĚƐƚĞĞůƉƌŽũĞĐƚďĞŝŶŐƐĞƚƵƉ 2006 and Joint Managing Director from 27th May, 2009. His ĂƚŶŐƵů͕KĚŝƐŚĂ͘WƌŝŽƌƚŽƚŚŝƐ͕ŚĞǁĂƐƚŚĞdžĞĐƵƟǀĞWƌĞƐŝĚĞŶƚĂŶĚ ƵŶĚĞƌƐƚĂŶĚŝŶŐ ŽĨ ďƵƐŝŶĞƐƐ ŚĂƐ ďĞĞŶ ŝŶƐƚƌƵŵĞŶƚĂů ŝŶ ĞǀŽůǀŝŶŐ ,ĞĂĚ͕^ŚĂĚĞĞĚ/ƌŽŶĂŶĚ^ƚĞĞů>>͕KŵĂŶ͕ĂƐƵďƐŝĚŝĂƌLJĐŽŵƉĂŶLJ͘ ŐƌŽǁƚŚƐƚƌĂƚĞŐŝĞƐĂŶĚƐŝŐŶŝĮĐĂŶƚůLJĐŽŶƚƌŝďƵƚĞĚƚŽŝŵƉůĞŵĞŶƚĂƟŽŶ ,ĞǁĂƐŐŝǀĞŶƚŚĞĐŚĂƌŐĞŽĨKŵĂŶŽƉĞƌĂƟŽŶƐŝŵŵĞĚŝĂƚĞůLJĂŌĞƌ ŽĨ ƚŚĞ ŽŵƉĂŶLJ͛Ɛ ĞdžƉĂŶƐŝŽŶ ĂŶĚ ĚŝǀĞƌƐŝĮĐĂƟŽŶ ƉůĂŶƐ ŝŶ ƐƚĞĞů͕ ŝƚƐĂĐƋƵŝƐŝƟŽŶŝŶ:ƵůLJ͕ϮϬϭϬ͘hŶĚĞƌŚŝƐĂďůĞůĞĂĚĞƌƐŚŝƉ͕ƚŚĞƉůĂŶƚ ŵŝŶŝŶŐĂŶĚƉŽǁĞƌďƵƐŝŶĞƐƐĞƐŽĨƚŚĞŽŵƉĂŶLJ͘,ĞŝƐĂŵĞŵďĞƌ ƐƚĂƌƚĞĚƉƌŽĚƵĐƟŽŶĂŚĞĂĚŽĨƐĐŚĞĚƵůĞ͘,ĞǁĂƐĂƉƉŽŝŶƚĞĚĂƐĂŶ ŽĨƚŚĞEĂƟŽŶĂů^ƚĞĞůĂŶĚEĂƟŽŶĂůDŝŶŝŶŐĐŽŵŵŝƩĞĞƐŽĨ&//͕ ĂĚĚŝƟŽŶĂůŝƌĞĐƚŽƌŽŶϵƚŚEŽǀĞŵďĞƌ͕ϮϬϭϮ͘,ĞŝƐĂůƐŽŵĞŵďĞƌŽĨ EĂƟŽŶĂůDŝŶŝŶŐŽŵŵŝƩĞĞŽĨ//ĂŶĚƚŚĞ'ŽǀĞƌŶŝŶŐŽĚLJŽĨƚŚĞ ,ĞĂůƚŚ͕^ĂĨĞƚLJ͕^ZĂŶĚŶǀŝƌŽŶŵĞŶƚĐŽŵŵŝƩĞĞŽĨƚŚĞŽŵƉĂŶLJ͘ K͘W͘:ŝŶĚĂů'ůŽďĂůhŶŝǀĞƌƐŝƚLJ͘ ^ŚƌŝZĂŵsŝŶĂLJ^ŚĂŚŝŝƐĂŶ/ŶĚĞƉĞŶĚĞŶƚŝƌĞĐƚŽƌŽŶƚŚĞŽĂƌĚ ^Śƌŝ^ƵƐŚŝůDĂƌŽŽ was appointed as Dy. Managing Director of ŽĨ ƚŚĞ ŽŵƉĂŶLJ͘ ,Ğ ŚŽůĚƐ Ă ďĂĐŚĞůŽƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ŵĞĐŚĂŶŝĐĂů ƚŚĞŽŵƉĂŶLJĨƌŽŵϭƐƚƉƌŝů͕ϮϬϭϯ͘,ĞŚŽůĚƐĂďĂĐŚĞůŽƌ͛ƐĚĞŐƌĞĞ ĞŶŐŝŶĞĞƌŝŶŐ ĨƌŽŵ ƚŚĞ EĂƟŽŶĂů /ŶƐƟƚƵƚĞ ŽĨ dĞĐŚŶŽůŽŐLJ͕ in commerce from the University of Rajasthan and is a chartered Jamshedpur, a post graduate degree in industrial engineering ĂĐĐŽƵŶƚĂŶƚ ďLJ ƉƌŽĨĞƐƐŝŽŶ͘ ,Ğ ŚĂƐ ŽǀĞƌ Ϯϴ LJĞĂƌƐ ŽĨ ĞdžƉĞƌŝĞŶĐĞ ĨƌŽŵƚŚĞEĂƟŽŶĂůWƌŽĚƵĐƟǀŝƚLJŽƵŶĐŝů͕ŚĞŶŶĂŝ͕ƉŽƐƚŐƌĂĚƵĂƚĞ ŝŶ ƚŚĞ ĮĞůĚƐ ŽĨ ĮŶĂŶĐĞ͕ ĂĐĐŽƵŶƚƐ ĂŶĚ ĐŽƌƉŽƌĂƚĞ ĂīĂŝƌƐ͘ ĞĨŽƌĞ ĚŝƉůŽŵĂŝŶďƵƐŝŶĞƐƐŵĂŶĂŐĞŵĞŶƚĨƌŽŵyĂǀŝĞƌ/ŶƐƟƚƵƚĞ͕ZĂŶĐŚŝ ũŽŝŶŝŶŐ ƚŚĞ ŽŵƉĂŶLJ͕ ŚĞ ƐĞƌǀĞĚ ŝŶ ĐŽŵƉĂŶŝĞƐ ůŝŬĞ ,ŝŶĚƵƐƚĂŶ ĂŶĚĂĚŝƉůŽŵĂŝŶĂĚǀĂŶĐĞĚŝŶĚƵƐƚƌŝĂůŵĂŶĂŐĞŵĞŶƚĨƌŽŵĞůŌ͕ >ĞǀĞƌ>ŝŵŝƚĞĚ͕sŽůƚĂƐ>ŝŵŝƚĞĚ͕ŚĂŵďĂů&ĞƌƟůŝƐĞƌƐĂŶĚŚĞŵŝĐĂůƐ ,ŽůůĂŶĚ͘ ,Ğ ŝƐ Ă ĨĞůůŽǁ ŽĨ ƚŚĞ tŽƌůĚ ĐĂĚĞŵLJ ŽĨ WƌŽĚƵĐƟǀŝƚLJ >ŝŵŝƚĞĚĂŶĚƉŽƐƐĞƐƐĞƐǀĂƐƚĮŶĂŶĐŝĂůĂŶĚŵĂŶĂŐĞƌŝĂůĞdžƉĞƌŝĞŶĐĞ͘ ^ĐŝĞŶĐĞƐ͘,ĞŝƐĂůƐŽĂĨĞůůŽǁŽĨƚŚĞ/ŶƐƟƚƵƟŽŶŽĨŶŐŝŶĞĞƌƐ;/ŶĚŝĂͿ͕ He joined the Company in January 2001 as Vice President- Ă ĨĞůůŽǁ ŽĨ /ŶƚĞƌŶĂƟŽŶĂů /ŶƐƟƚƵƚĞ ŽĨ ůĞĐƚƌŝĐĂů ŶŐŝŶĞĞƌƐ ĂŶĚ Ă &ŝŶĂŶĐĞĂŶĚǁĂƐĞůĞǀĂƚĞĚƚŽƚŚĞƉŽƐŝƟŽŶŽĨtŚŽůĞƟŵĞŝƌĞĐƚŽƌ ĨĞůůŽǁŽĨƚŚĞ/ŶĚŝĂŶEĂƟŽŶĂůĐĂĚĞŵLJŽĨŶŐŝŶĞĞƌŝŶŐ͘ ŽŶϮϬƚŚDĂLJ͕ϮϬϬϰ͘,ĞǁĂƐƌĞƐƉŽŶƐŝďůĞĨŽƌŵŽďŝůŝƐĂƟŽŶŽĨĨƵŶĚƐ ĨŽƌ ŽŵƉĂŶLJ͛Ɛ ĞdžƉĂŶƐŝŽŶ ĂŶĚ ĞŶŚĂŶĐĞĚ ƉƌŽĚƵĐƟŽŶ ĐĂƉĂĐŝƚLJ͘ ,Ğ ŚĂƐ ƚĞĐŚŶŝĐĂů͕ ĂĚŵŝŶŝƐƚƌĂƟǀĞ ĂŶĚ ŵĂŶĂŐĞƌŝĂů ĞdžƉĞƌŝĞŶĐĞ ŽĨ He was Dy. Managing Director of Jindal Power Limited (JPL) and ĂƉƉƌŽdžŝŵĂƚĞůLJϰϱLJĞĂƌƐ͘,ĞŚĂƐƐĞƌǀĞĚĂƐƚŚĞ^ĞĐƌĞƚĂƌLJ͕DŝŶŝƐƚƌLJ Group CFO from 18th June, 2008 upto 31st March, 2013. He was of Power, Government of India (GoI), from April 2002 to January ŝŶƐƚƌƵŵĞŶƚĂůŝŶĮŶĂŶĐŝĂůƉůĂŶŶŝŶŐĂŶĚĂĐŚŝĞǀŝŶŐĮŶĂŶĐŝĂůĐůŽƐƵƌĞ 2007, prior to which he was Chairman and Managing Director for the 1,000 MW mega power project of JPL. ŽĨ^^>ŝŵŝƚĞĚĨƌŽŵϭϵϵϰƚŽϮϬϬϮ͘,ĞĂůƐŽǁŽƌŬĞĚŝŶǀĂƌŝŽƵƐ ĐĂƉĂĐŝƟĞƐǁŝƚŚ,ŝŶĚƵƐƚĂŶ^ƚĞĞů>ŝŵŝƚĞĚ;ŶŽǁ^ƚĞĞůƵƚŚŽƌŝƚLJŽĨ ,Ğ ŝƐ ƚŚĞ &ŽƵŶĚĞƌ ŚĂŝƌŵĂŶ ŽĨ /ŶĚŽͲ'ĞŽƌŐŝĂŶ ŚĂŵďĞƌƐ ŽĨ /ŶĚŝĂ>ŝŵŝƚĞĚͿĨŽƌŽǀĞƌƚĞŶLJĞĂƌƐĂŶĚEdW>ŝŵŝƚĞĚĨŽƌƐŝdžƚĞĞŶ ŽŵŵĞƌĐĞ ĞƐƚĂďůŝƐŚĞĚ ŝŶ ϮϬϭϬ Ăƚ 'ĞŽƌŐŝĂ͕ ŽͲŚĂŝƌŵĂŶ ŽĨ LJĞĂƌƐĂŶĚǁĂƐŝƌĞĐƚŽƌ;KƉĞƌĂƟŽŶƐͿŽŶƚŚĞŽĂƌĚŽĨEdW͘ ^^K,DEĂƟŽŶĂůŽƵŶĐŝůŽŶDŝŶĞƐĂŶĚDŝŶĞƌĂůƐ͕ŚĂŝƌŵĂŶ ŽĨ ^^K,D EĂƟŽŶĂů ŽƵŶĐŝů ŽŶ /ŶĚŝĂ Ͳ >ĂƟŶ ŵĞƌŝĐĂŶ During his tenure as the Secretary to GoI, the Indian power ŽƵŶƚƌŝĞƐƵƐŝŶĞƐƐWƌŽŵŽƟŽŶŽƵŶĐŝů͕ŚĂŝƌŵĂŶŽĨ/ŶĚŽͲ'ĞƌŵĂŶ ƐĞĐƚŽƌ ǁŝƚŶĞƐƐĞĚ ŵĂũŽƌ ƌĞƐƚƌƵĐƚƵƌŝŶŐ ƚŚƌŽƵŐŚ ƚŚĞ ĨŽƌŵƵůĂƟŽŶ ŚĂŵďĞƌƐŽĨŽŵŵĞƌĐĞ͕ŵĞŵďĞƌŽĨdžƉĞƌƚĐŽŵŵŝƩĞĞŽŶ/ƌŽŶ ĂŶĚ ŝŵƉůĞŵĞŶƚĂƟŽŶ ŽĨ ůĞŐŝƐůĂƟǀĞ ĂŶĚ ƉŽůŝĐLJ ŝŶŝƟĂƟǀĞƐ ĂŝŵĞĚ ĂŶĚ^ƚĞĞůĂŶĚƚŚĞŵĞŵďĞƌŽĨĞdžƉĞƌƚŽŵŵŝƩĞĞŽŶĂŶŬŝŶŐŝŶ Ăƚ ĐƌĞĂƟŶŐ Ă ĐŽŵƉĞƟƟǀĞ ŵĂƌŬĞƚ ƐƚƌƵĐƚƵƌĞ͘ dŚĞƐĞ ŝŶĐůƵĚĞĚ͕ ƚŚĞ&ĞĚĞƌĂƟŽŶŽĨ/ŶĚŝĂŶŚĂŵďĞƌƐŽĨŽŵŵĞƌĐĞĂŶĚ/ŶĚƵƐƚƌLJ͕ ĂŵŽŶŐ ŽƚŚĞƌƐ͕ ƚŚĞ ůĞĐƚƌŝĐŝƚLJ Đƚ ;ϮϬϬϯͿ͕ EĂƟŽŶĂů ůĞĐƚƌŝĐŝƚLJ ŵĞŵďĞƌŽĨ'ŽǀĞƌŶŝŶŐŽŵŵŝƩĞĞŽĨ^ƉŽŶŐĞ/ƌŽŶDĂŶƵĨĂĐƚƵƌĞƌƐ WŽůŝĐLJ;ϮϬϬϱͿ͖ůĞĐƚƌŝĐŝƚLJdĂƌŝīWŽůŝĐLJ;ϮϬϬϲͿ͖ĐĐĞůĞƌĂƚĞĚWŽǁĞƌ ƐƐŽĐŝĂƟŽŶ;^/DͿ͘ Development Reform Programme (2002) and Ultra Mega Power Project Policy (2006). ,ĞŝƐĂůƐŽŝƌĞĐƚŽƌŽŶƚŚĞŽĂƌĚŽĨ:ŝŶĚĂůWŽǁĞƌ>ŝŵŝƚĞĚ͕<ĂŵĂůĂ Hydro Electric Power Company Limited, Etalin Hydro Electric ,ĞŝƐŚĂŝƌŵĂŶ;džĞĐƵƟǀĞͿŽĨŶĞƌŐLJ/ŶĨƌĂƚĞĐŚWƌŝǀĂƚĞ>ŝŵŝƚĞĚ͕ WŽǁĞƌŽŵƉĂŶLJ>ŝŵŝƚĞĚ͕ƩƵŶůŝ,LJĚƌŽůĞĐƚƌŝĐWŽǁĞƌŽŵƉĂŶLJ ĂŶ ĞŶŐŝŶĞĞƌŝŶŐ ĂŶĚ ƉƌŽũĞĐƚ ĚĞǀĞůŽƉŵĞŶƚ ĐŽŶƐƵůƟŶŐ ŽŵƉĂŶLJ͖ Limited, Gopalpur Ports Limited, Jindal Petroleum Limited, Jindal ŚĂŝƌŵĂŶ͕ ĚǀŝƐŽƌLJ ŽĂƌĚ ŽŶ ĞŶĞƌŐLJ ŽĨ /ŶĨƌĂƐƚƌƵĐƚƵƌĞ ^LJŶĨƵĞůƐ >ŝŵŝƚĞĚ͕ :ŝŶĚĂů ^ƚĞĞů Θ WŽǁĞƌ ;DĂƵƌŝƟƵƐͿ >ŝŵŝƚĞĚ͕ ĞǀĞůŽƉŵĞŶƚ &ŝŶĂŶĐĞ ŽŵƉĂŶLJ >ŝŵŝƚĞĚ ;/&Ϳ͖ ŚĂŝƌŵĂŶ͕ :ŝŶĚĂůWĞƚƌŽůĞƵŵ;DĂƵƌŝƟƵƐͿ>ŝŵŝƚĞĚ͕:ŝŶĚĂůWĞƚƌŽůĞƵŵ;'ĞŽƌŐŝĂͿ ĚǀŝƐŽƌLJ ŽĂƌĚ ŽĨ /ŶĚŝĂŶ ŶĞƌŐLJ džĐŚĂŶŐĞ͖ ŚĂŝƌŵĂŶ͕ ĚĂŶŝ

94 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Governance Report

WŽǁĞƌ ĚǀŝƐŽƌLJ ŽĂƌĚ͖ ŚĂŝƌŵĂŶ͕ <ĂƵƟůLJĂ DĂŶĂŐĞŵĞŶƚ ĚƵĐĂƟŽŶ ^ŽĐŝĞƚLJ͖ DĞŵďĞƌ͕ ĚǀŝƐŽƌLJ 'ƌŽƵƉ ŽŶ WŽǁĞƌ͕ 'ŽǀĞƌŶŵĞŶƚŽĨ/ŶĚŝĂ͖DĞŵďĞƌ͕ĞŶƚƌĂůĚǀŝƐŽƌLJŽŵŵŝƩĞĞŽĨ Central Electricity Regulatory Commission and Energy Advisor, ^ŽƵƚŚƐŝĂ͕tŽƌůĚĂŶŬ͘ ,Ğ ŚĂƐ ƉƌĞƐĞŶƚĞĚ ŵĂŶLJ ƉĂƉĞƌƐ Ăƚ ǀĂƌŝŽƵƐ EĂƟŽŶĂů ĂŶĚ /ŶƚĞƌŶĂƟŽŶĂů ŽŶĨĞƌĞŶĐĞƐ ĂŶĚ ĞĚŝƚĞĚ Ă Ŭ ĞŶƟƚůĞĚ ͞ϭϬϬ Years of Thermal Power in India (2000). He has authored the ĨŽůůŽǁŝŶŐ ŬƐ ǀŝnj͘ ŝͿ /ŶĚŝĂŶ WŽǁĞƌ ^ĞĐƚŽƌ ʹ ŚĂůůĞŶŐĞ ĂŶĚ ZĞƐƉŽŶƐĞ ;ϮϬϬϱͿ͕ ŝŝͿ dŽǁĂƌĚƐ WŽǁĞƌŝŶŐ /ŶĚŝĂ͗ WŽůŝĐLJ /ŶŝƟĂƟǀĞƐ ĂŶĚ/ŵƉůĞŵĞŶƚĂƟŽŶ^ƚƌĂƚĞŐLJ;ϮϬϬϳͿĂŶĚŝŝŝͿŶĞƌŐLJ^ĞĐƵƌŝƚLJĂŶĚ Climate Change (2009). He has received several Awards which include, among others, ƚŚĞŵŝŶĞŶƚŶŐŝŶĞĞƌǁĂƌĚďLJƚŚĞ/ŶƐƟƚƵƟŽŶŽĨŶŐŝŶĞĞƌƐ͖ĞƐƚ WŽǁĞƌDĂŶŽĨƚŚĞDŝůůĞŶŶŝƵŵzĞĂƌϮϬϬϬǁĂƌĚďLJƚŚĞEĂƟŽŶĂů &ŽƵŶĚĂƟŽŶŽĨ/ŶĚŝĂŶŶŐŝŶĞĞƌƐĂŶĚWŽǁĞƌͲdĞůĞĐŽŵŽŶǀĞƌŐĞŶĐĞ ǁĂƌĚϮϬϬϬďLJƚŚĞ/ŶĚĞƉĞŶĚĞŶƚWŽǁĞƌWƌŽĚƵĐĞƌƐƐƐŽĐŝĂƟŽŶŽĨ /ŶĚŝĂĂŶĚEĂƟŽŶĂůWŽǁĞƌdƌĂŝŶŝŶŐ/ŶƐƟƚƵƚĞ͘,ĞŝƐĂůƐŽĂŝƌĞĐƚŽƌ ŽŶƚŚĞŽĂƌĚŽĨ:ŝŶĚĂůWŽǁĞƌ>ŝŵŝƚĞĚ͕^ƵďƐŝĚŝĂƌLJŽĨƚŚĞŽŵƉĂŶLJ͕ ŶĞƌŐŽ /ŶĨƌĂƐƚƌƵĐƚƵƌĞ ĞǀĞůŽƉŵĞŶƚ ŽƌƉŽƌĂƟŽŶ >ŝŵŝƚĞĚ͕ ZƵƌĂů ZĞŶĞǁĂďůĞŶĞƌŐLJ>ŝŵŝƚĞĚ͕Zs^ŚĂŚŝĚǀŝƐŽƌLJWƌŝǀĂƚĞ>ŝŵŝƚĞĚ͘,Ğ ŝƐĂůƐŽŚĂŝƌŵĂŶŽĨƵĚŝƚŽŵŵŝƩĞĞŽĨƚŚĞŽŵƉĂŶLJĂƐǁĞůůĂƐ :ŝŶĚĂůWŽǁĞƌ>ŝŵŝƚĞĚĂŶĚŵĞŵďĞƌŽĨŽŵƉĞŶƐĂƟŽŶŽŵŵŝƩĞĞ of the Company.

^ŚƌŝƌƵŶ<ƵŵĂƌWƵƌǁĂƌŝƐĂŶ/ŶĚĞƉĞŶĚĞŶƚŝƌĞĐƚŽƌŽŶƚŚĞŽĂƌĚ >ŝŵŝƚĞĚ͘,ĞŝƐĂůƐŽĂŵĞŵďĞƌŽĨZĞŵƵŶĞƌĂƟŽŶĂŶĚEŽŵŝŶĂƟŽŶ of the Company. He holds a master’s degree in commerce from ĐŽŵŵŝƩĞĞŽĨƚŚĞŽŵƉĂŶLJ͘ ůůĂŚĂďĂĚhŶŝǀĞƌƐŝƚLJĂŶĚĂĚŝƉůŽŵĂŝŶďƵƐŝŶĞƐƐĂĚŵŝŶŝƐƚƌĂƟŽŶ͘ ,ĞǁĂƐŚĂŝƌŵĂŶŽĨ^ƚĂƚĞĂŶŬŽĨ/ŶĚŝĂ;^/ͿƵƉƚŽDĂLJϮϬϬϲ͘WƌŝŽƌ ^Śƌŝ ƌƵŶ <ƵŵĂƌ ŝƐ ĂŶ /ŶĚĞƉĞŶĚĞŶƚ ŝƌĞĐƚŽƌ ŽŶ ƚŚĞ ŽĂƌĚ ŽĨ ƚŽƚŚĂƚ͕ŚĞǁĂƐƚŚĞDĂŶĂŐŝŶŐŝƌĞĐƚŽƌŽĨ^ƚĂƚĞĂŶŬŽĨWĂƟĂůĂ the Company. He holds a masters degree in Physics from Delhi ĂŶĚKŽĨdŽŬLJŽƌĂŶĐŚŽĨ^/͘,ĞŝƐĂŶĞdžƉĞƌŝĞŶĐĞĚďĂŶŬĞƌĂŶĚ hŶŝǀĞƌƐŝƚLJ ĂŶĚ ŝŶ DĂƚŚĞŵĂƟĐƐ ĨƌŽŵ ĂŶĂƌĂƐ ,ŝŶĚƵ hŶŝǀĞƌƐŝƚLJ͕ ĂŶĞdžƉĞƌƚŝŶĮŶĂŶĐŝĂůŵĂŶĂŐĞŵĞŶƚ͘,ĞŚĂĚďĞĞŶĂǁĂƌĚĞĚ͚dŚĞ sĂƌĂŶĂƐŝ͘,ĞǁĂƐŚŝĞĨ^ĞĐƌĞƚĂƌLJƚŽ'ŽǀĞƌŶŵĞŶƚŽĨŚŚĂƫƐŐĂƌŚ KŽĨƚŚĞLJĞĂƌ͛ďLJƚŚĞ/ŶƐƟƚƵƚĞĨŽƌdĞĐŚŶŽůŽŐLJΘDĂŶĂŐĞŵĞŶƚ ĨƌŽŵ EŽǀĞŵďĞƌ ϮϬϬϬ ƚŽ :ĂŶƵĂƌLJ ϮϬϬϯ ĂŶĚ ŝƐ ĂŶ /͘͘^͘ KĸĐĞƌ ;ϮϬϬϰͿ͕͚KƵƚƐƚĂŶĚŝŶŐĐŚŝĞǀĞƌŽĨƚŚĞLJĞĂƌ͛ǁĂƌĚďLJ/ŶĚŝĂŶĂŶŬƐ ;ZĞƟƌĞĚͿ ŽĨ ϭϵϲϱ ďĂƚĐŚ͘ ƵƌŝŶŐ ŚŝƐ ƚĞŶƵƌĞ ŽĨ ϯϴ LJĞĂƌƐ ŝŶ ƚŚĞ ƐƐŽĐŝĂƟŽŶ;ϮϬϬϰͿĂŶĚ͞&ŝŶĂŶĐĞDĂŶŽĨƚŚĞLJĞĂƌ͟ǁĂƌĚďLJƚŚĞ State / Central Government, he has held various important ŽŵďĂLJDĂŶĂŐĞŵĞŶƚƐƐŽĐŝĂƟŽŶŝŶϮϬϬϲ͘,ĞŝƐƚŚĞŚĂŝƌŵĂŶ ƉŽƐŝƟŽŶƐ͘ ,Ğ ǁĂƐ ƚŚĞ ŚĂŝƌŵĂŶ͕ ĚŵŝŶŝƐƚƌĂƟǀĞ ZĞĨŽƌŵƐ of India Venture Advisors Private Limited, Investment Manager ŽŵŵŝƐƐŝŽŶ;ŚŚĂƫƐŐĂƌŚͿ͖sŝĐĞŚĂŝƌŵĂŶ͕^ƚĂƚĞWůĂŶŶŝŶŐŽĂƌĚ ƚŽ/ŶĚŝĂsĞŶƚƵƌĞdƌƵƐƚʹ&ƵŶĚ/͕ƚŚĞŚĞĂůƚŚĐĂƌĞĂŶĚůŝĨĞƐĐŝĞŶĐĞƐ ;ŚŚĂƫƐŐĂƌŚͿ͖ WƌĞƐŝĚĞŶƚ͕ ŽĂƌĚ ŽĨ ZĞǀĞŶƵĞ ;DĂĚŚLJĂ WƌĂĚĞƐŚͿ͖ ĨŽĐƵƐĞĚƉƌŝǀĂƚĞĞƋƵŝƚLJĨƵŶĚ͘,ĞŝƐĂůƐŽǁŽƌŬŝŶŐĂƐŚĂŝƌŵĂŶŽĨ/> dĞdžƟůĞ ŽŵŵŝƐƐŝŽŶĞƌ͕ 'Žǀƚ͘ ŽĨ /ŶĚŝĂ Ăƚ DƵŵďĂŝ͖ WƌŝŶĐŝƉĂů Θ&^ZĞŶĞǁĂďůĞŶĞƌŐLJ>ŝŵŝƚĞĚƐŝŶĐĞDĂƌĐŚϮϬϬϴĂŶĚŚĂŝƌŵĂŶ ^ĞĐƌĞƚĂƌLJ ƚŽ 'Žǀƚ͘ ŽĨ D͘ W͕͘,ŝŐŚĞƌ ĚƵĐĂƟŽŶ ĞƉĂƌƚŵĞŶƚ͘ ,Ğ ŽĨW,>&ŝŶĂŶĐĞWƌŝǀĂƚĞ>ŝŵŝƚĞĚ͕ƚŚĞE&ĂƌŵŽĨWŝƌĂŵĂůŐƌŽƵƉ ŝƐŚĂŝƌŵĂŶŽĨ,ĞĂůƚŚ͕^ĂĨĞƚLJ͕^ZĂŶĚŶǀŝƌŽŶŵĞŶƚĐŽŵŵŝƩĞĞ͖ ƐŝŶĐĞ^ĞƉƚĞŵďĞƌϮϬϭϭ͘ EŽŵŝŶĂƟŽŶĂŶĚZĞŵƵŶĞƌĂƟŽŶĐŽŵŵŝƩĞĞĂŶĚŵĞŵďĞƌŽĨƵĚŝƚ ĐŽŵŵŝƩĞĞĂŶĚ^ŚĂƌĞŚŽůĚĞƌƐ͛ͬ/ŶǀĞƐƚŽƌƐ͛'ƌŝĞǀĂŶĐĞĐŽŵŵŝƩĞĞ ,ĞŝƐŝƌĞĐƚŽƌŽŶƚŚĞŽĂƌĚŽĨsĂƌĚŚŵĂŶdĞdžƟůĞƐ>ŝŵŝƚĞĚ͕ZĞůŝĂŶĐĞ of the Company. ŽŵŵƵŶŝĐĂƟŽŶƐ >ŝŵŝƚĞĚ͕ ƉŽůůŽ dLJƌĞƐ >ŝŵŝƚĞĚ͕ /ŶĚŝĂ /ŶĨŽůŝŶĞ >ŝŵŝƚĞĚ͕ :ŝŶĚĂů WŽǁĞƌ >ŝŵŝƚĞĚ͕ Θ ŽŶƐƚƌƵĐƟŽŶ >ŝŵŝƚĞĚ͕ ^ƌŝ ^Śƌŝ ^ƵĚĞƌƐŚĂŶ <ƵŵĂƌ 'ĂƌŐ is an Independent Director on Kavery Medical Care (Trichy) Limited, PHL Capital Private Limited, ƚŚĞ ŽĂƌĚ ŽĨ ƚŚĞ ŽŵƉĂŶLJ͘ ,Ğ ŚŽůĚƐ Ă ĂĐŚĞůŽƌ͛Ɛ ĞŐƌĞĞ ŝŶ Vardman Chemtech Limited, Energy Infratech Private Limited, ŽŵŵĞƌĐĞĂŶĚŝƐĂŚĂƌƚĞƌĞĚĐĐŽƵŶƚĂŶƚďLJƉƌŽĨĞƐƐŝŽŶ͘,ĞŚĂƐ KE'ͲdƌŝƉƵƌĂ WŽǁĞƌ ŽŵƉĂŶLJ >ŝŵŝƚĞĚ͕ DŝnjƵŚŽ ^ĞĐƵƌŝƟĞƐ ϯϵLJĞĂƌƐŽĨǀĂƌŝĞĚĞdžƉĞƌŝĞŶĐĞŝŶƚŚĞĮĞůĚŽĨKŝůΘWŽǁĞƌ͘,ĞŚĂƐ WƌŝǀĂƚĞ >ŝŵŝƚĞĚ͘ ,Ğ ŝƐ ƚŚĞ ŚĂŝƌŵĂŶ ŽĨ ƵĚŝƚ ŽŵŵŝƩĞĞ ŽĨ ǁŽƌŬĞĚǁŝƚŚ/ŶĚŝĂŶKŝůŽƌƉŽƌĂƟŽŶ>ŝŵŝƚĞĚĨŽƌϮϵLJĞĂƌƐĂŶĚŚĂƐ ZĞůŝĂŶĐĞŽŵŵƵŶŝĐĂƟŽŶ>ŝŵŝƚĞĚ͕KE'ͲdƌŝƉƵƌĂWŽǁĞƌŽŵƉĂŶLJ ĂĐƋƵŝƌĞĚƌŝĐŚĞdžƉĞƌŝĞŶĐĞŝŶ&ŝŶĂŶĐĞ͕DĂƌŬĞƟŶŐ͕WŝƉĞůŝŶĞƐ͕džĐŝƐĞ >ŝŵŝƚĞĚ ĂŶĚ ŵĞŵďĞƌ ŽĨ ƵĚŝƚ ŽŵŵŝƩĞĞ ŽĨ :ŝŶĚĂů WŽǁĞƌ ΘƵƐƚŽŵƐ͕KŝůWƌŝĐŝŶŐĞƚĐ͘,ĞǁĂƐdžĞĐƵƟǀĞŝƌĞĐƚŽƌ;&ŝŶĂŶĐĞͿŝŶ Limited, Sri Kavery Medical Care (Trichy) Limited, PHL Finance /ŶĚŝĂŶKŝůŽƌƉŽƌĂƟŽŶ͘,ĞũŽŝŶĞĚƚŚĞŽĂƌĚŽĨE,W>ŝŵŝƚĞĚĂƐ WƌŝǀĂƚĞ >ŝŵŝƚĞĚ͕ W,> ĂƉŝƚĂů WƌŝǀĂƚĞ >ŝŵŝƚĞĚ ĂŶĚ ŵĞŵďĞƌ ŽĨ ŝƌĞĐƚŽƌ;&ŝŶĂŶĐĞͿŝŶϮϬϬϯ͘/ŶKĐƚŽďĞƌϮϬϬϱ͕ŚĞǁĂƐĂƉƉŽŝŶƚĞĚ ^ŚĂƌĞŚŽůĚĞƌƐ͛'ƌŝĞǀĂŶĐĞŽŵŵŝƩĞĞŽĨZĞůŝĂŶĐĞŽŵŵƵŶŝĐĂƟŽŶ ŚĂŝƌŵĂŶ ĂŶĚ DĂŶĂŐŝŶŐ ŝƌĞĐƚŽƌ ŽĨ E,W >ŝŵŝƚĞĚ ĂŶĚ E,

95 Annual Report 2012-13 >ŝŵŝƚĞĚ;ĂƐƵďƐŝĚŝĂƌLJŽĨE,W>ŝŵŝƚĞĚͿĂŶĚƐĞƌǀĞĚĂƚƚŚĞƐĞƉŽƐƚƐ ƉƌĂĐƟĐĞ ƐƉĞĐŝĂůŝƐŝŶŐ ŝŶ ĨŽƌĞŝŐŶ ŝŶǀĞƐƚŵĞŶƚ ĂŶĚ ƌĞĂů ĞƐƚĂƚĞ͘ ĨŽƌ ŵŽƌĞ ƚŚĂŶ ĮǀĞ LJĞĂƌƐ Ɵůů ŚŝƐ ƐƵƉĞƌĂŶŶƵĂƟŽŶ ŝŶ ĞĐĞŵďĞƌ ,ĞŝƐĂůƐŽĂŝƌĞĐƚŽƌŽŶƚŚĞŽĂƌĚŽĨ:ŝŶĚĂůWŽǁĞƌ>ŝŵŝƚĞĚ͘,Ğ ϮϬϭϬ͘hŶĚĞƌŚŝƐĂďůĞŐƵŝĚĂŶĐĞ͕E,WǁĂƐĐŽŶĨĞƌƌĞĚǁŝƚŚ͚DŝŶŝ ŝƐ Ă ŵĞŵďĞƌ ŽĨ ƵĚŝƚ ĐŽŵŵŝƩĞĞ ŽĨ :ŝŶĚĂů WŽǁĞƌ >ŝŵŝƚĞĚ ĂŶĚ ZĂƚŶĂĂƚĞŐŽƌLJʹ/͛ƐƚĂƚƵƐ͘ƐŚĂŝƌŵĂŶĂŶĚDĂŶĂŐŝŶŐŝƌĞĐƚŽƌ ŵĞŵďĞƌŽĨ,ĞĂůƚŚ͕^ĂĨĞƚLJ͕^ZĂŶĚŶǀŝƌŽŶŵĞŶƚĐŽŵŵŝƩĞĞĂŶĚ ŽĨE,WŚĞǁĂƐŝŶǀŽůǀĞĚŝŶďƵƐŝŶĞƐƐƉƌŽĐĞƐƐƌĞͲĞŶŐŝŶĞĞƌŝŶŐĂŶĚ EŽŵŝŶĂƟŽŶĂŶĚZĞŵƵŶĞƌĂƟŽŶĐŽŵŵŝƩĞĞŽĨƚŚĞŽŵƉĂŶLJ͘ ƌĞƐƚƌƵĐƚƵƌŝŶŐ͕ĞdžƉĂŶƐŝŽŶŽĨďƵƐŝŶĞƐƐ͕/WKŽĨƐŚĂƌĞƐĞƚĐ͘,ĞǁĂƐ ŝŝͿ ŽĂƌĚDĞĞƟŶŐƐ ĂůƐŽŽŶƚŚĞŽĂƌĚŽĨ/ŶƚĞƌŶĂƟŽŶĂů,LJĚƌŽƐƐŽĐŝĂƟŽŶ;/,Ϳ͘  dŚĞŽĂƌĚŵĞĞƚƐĂƚƌĞŐƵůĂƌŝŶƚĞƌǀĂůƐƚŽĚŝƐĐƵƐƐĂŶĚĚĞĐŝĚĞ ,Ğ ǁĂƐ ĐŽŶĨĞƌƌĞĚ ǁŝƚŚ ͚>ŝĨĞƟŵĞ ĐŚŝĞǀĞŵĞŶƚ ǁĂƌĚ͛ ďLJ ƚŚĞ ŽŶ ŽŵƉĂŶLJ ͬ ďƵƐŝŶĞƐƐ ƉŽůŝĐŝĞƐ ĂŶĚ ƐƚƌĂƚĞŐLJ ĂƉĂƌƚ ĨƌŽŵ /ŶƐƟƚƵƚĞŽĨĐŽŶŽŵŝĐ^ƚƵĚŝĞƐŝŶϮϬϭϬ͕͚WƌŽĨĞƐƐŝŽŶĂůDĂŶĂŐĞƌ͛Ɛ ŽƚŚĞƌƌĞŐƵůĂƌďƵƐŝŶĞƐƐŵĂƩĞƌƐ͘ŽĂƌĚDĞĞƟŶŐƐĂƌĞƵƐƵĂůůLJ ǁĂƌĚ͛ ŝŶ ƉĞƌƐŽŶĂů ĐĂƉĂĐŝƚLJ ďLJ ƚŚĞ /ŶƐƟƚƵƚĞ ŽĨ ŚĂƌƚĞƌĞĚ ŚĞůĚĂƚƚŚĞŽƌƉŽƌĂƚĞKĸĐĞŽĨƚŚĞŽŵƉĂŶLJĂƚEĞǁĞůŚŝ͘ ĐĐŽƵŶƚĂŶƚƐ ŽĨ /ŶĚŝĂ ŝŶ ϮϬϬϴ͕ ƚŚĞ ͚^Z ůƵŵŶŝ ĂǁĂƌĚ͛ ďLJ ^ƌŝ ƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚŽŶϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ͕ĮǀĞ ZĂŵŽůůĞŐĞŽĨŽŵŵĞƌĐĞŝŶϮϬϬϵĂŶĚ͚WDʹWD,ŽŶŽƌĂƌLJ ŽĂƌĚDĞĞƟŶŐƐǁĞƌĞŚĞůĚŽŶϮϳƚŚƉƌŝů͕ϮϬϭϮ͕ϮϰƚŚ:ƵůLJ͕ &ĞůůŽǁƐŚŝƉ ǁĂƌĚ͛ ďLJ ƚŚĞ ĞŶƚƌĞ ĨŽƌ džĐĞůůĞŶĐĞ ŝŶ WƌŽũĞĐƚ ϮϬϭϮ͕ϵƚŚEŽǀĞŵďĞƌ͕ϮϬϭϮ͕ϭϮƚŚ&ĞďƌƵĂƌLJ͕ϮϬϭϯĂŶĚϮϲƚŚ Management (CEPM) and Project Management Associates apart DĂƌĐŚ͕ϮϬϭϯ͘DĂdžŝŵƵŵƟŵĞŐĂƉďĞƚǁĞĞŶƚǁŽĐŽŶƐĞĐƵƟǀĞ ĨƌŽŵŐĞƫŶŐƐĞǀĞƌĂůŽƚŚĞƌĂǁĂƌĚƐ͘,ĞŝƐĂŝƌĞĐƚŽƌŽŶƚŚĞŽĂƌĚ of Jindal Power Limited. He is also Chairman of Governance and ŵĞĞƟŶŐƐŚĂĚŶŽƚĞdžĐĞĞĚĞĚϰŵŽŶƚŚƐ͘ ƵƐŝŶĞƐƐƚŚŝĐƐĐŽŵŵŝƩĞĞŽĨƚŚĞŽŵƉĂŶLJ͘ The agenda and notes are circulated to the Directors in ĂĚǀĂŶĐĞ͘ůůŵĂƚĞƌŝĂůŝŶĨŽƌŵĂƟŽŶŝƐŝŶĐůƵĚĞĚŝŶƚŚĞĂŐĞŶĚĂ ^Śƌŝ,ĂŝŐƌĞǀĞ<ŚĂŝƚĂŶŝƐĂŶ/ŶĚĞƉĞŶĚĞŶƚŝƌĞĐƚŽƌŽŶƚŚĞŽĂƌĚ ŽĨƚŚĞŽŵƉĂŶLJ͘,ĞŚŽůĚƐĂ>ĂǁĚĞŐƌĞĞĨƌŽŵ<ŽůŬĂƚĂhŶŝǀĞƌƐŝƚLJ͘ ĨŽƌĨĂĐŝůŝƚĂƟŶŐŵĞĂŶŝŶŐĨƵůĚŝƐĐƵƐƐŝŽŶƐĂƚƚŚĞŵĞĞƟŶŐ͘/ŶĐĂƐĞ He Joined Khaitan & Co. in 1988 and is now a senior partner. ŽĨƵƌŐĞŶƚŶĞĐĞƐƐŝƚLJ͕ƌĞƐŽůƵƟŽŶƐĂƌĞƉĂƐƐĞĚďLJĐŝƌĐƵůĂƟŽŶŝŶ He is a corporate and commercial lawyer and heads Mergers accordance with the provisions of Companies Act, 1956. ĂŶĚ ĐƋƵŝƐŝƟŽŶƐ ;DΘͿ ĚŝǀŝƐŝŽŶ ŽĨ <ŚĂŝƚĂŶ Θ Ž͘ ,Ğ ƐƉĞŶƚ ƵƐŝŶĞƐƐ hŶŝƚ ŚĞĂĚƐ ĂŶĚ ƐĞŶŝŽƌ ŵĂŶĂŐĞŵĞŶƚ ƉĞƌƐŽŶŶĞů ĐŽŶƐŝĚĞƌĂďůĞ LJĞĂƌƐ ŽĨ ŚŝƐ ŝŶŝƟĂůƉƌĂĐƟĐĞ ŝŶ ƌĞƉƌĞƐĞŶƟŶŐĐůŝĞŶƚƐ ŵĂŬĞƉƌĞƐĞŶƚĂƟŽŶƐƚŽƚŚĞŽĂƌĚ͘dŚĞŽĂƌĚŝƐƵƉĚĂƚĞĚŽŶ ŽŶ ůŝƟŐĂƟŽŶ ŵĂƩĞƌƐ ĂŶĚ ƚŚĞƌĞĂŌĞƌ ŚĞ ǁĞŶƚ ŽŶ ƚŽ ƌĞƉƌĞƐĞŶƚ ƚŚĞ ĚŝƐĐƵƐƐŝŽŶƐ ŚĞůĚ Ăƚ ƚŚĞ ŽŵŵŝƩĞĞ ŵĞĞƟŶŐƐ ĂŶĚ ƚŚĞ ŵĂŶLJĐůŝĞŶƚƐŽŶƉƌŽũĞĐƚĮŶĂŶĐĞĂŶĚƌĞĂůĞƐƚĂƚĞƚƌĂŶƐĂĐƟŽŶƐ͘,Ğ ƌĞĐŽŵŵĞŶĚĂƟŽŶƐŵĂĚĞďLJǀĂƌŝŽƵƐŽŵŵŝƩĞĞƐ͘ ƉƌĞƐĞŶƚůLJĨŽĐƵƐĞƐŚŝƐƉƌĂĐƟĐĞŽŶDΘ͕ƉƌŝǀĂƚĞĞƋƵŝƚLJ͕ǀĞŶƚƵƌĞ  dŚĞĂŐĞŶĚĂŽĨƚŚĞŵĞĞƟŶŐƐŽĨƚŚĞŽĂƌĚŝŶĐůƵĚĞƐĂŶŶƵĂů capital, corporate restructuring and advises various Indian ŽƉĞƌĂƟŶŐ ƉůĂŶƐ͕ ĐĂƉŝƚĂů ďƵĚŐĞƚƐ ĂŶĚ ƵƉĚĂƚĞƐ ƚŚĞƌĞŝŶ͕ ĂŶĚ ŝŶƚĞƌŶĂƟŽŶĂů ĐůŝĞŶƚƐ ŽŶ ŽƚŚĞƌ ƐƚƌĂƚĞŐŝĐ ƚƌĂŶƐĂĐƟŽŶƐ͘ ,Ğ ŝƐ ƋƵĂƌƚĞƌůLJ ͬ ĂŶŶƵĂů ĐŽŶƐŽůŝĚĂƚĞĚ ĂŶĚ ƐƚĂŶĚĂůŽŶĞ ĮŶĂŶĐŝĂů ŚŝŐŚůLJ ƌĞĐŽŵŵĞŶĚĞĚ ďLJ ǁŽƌůĚ͛Ɛ ůĞĂĚŝŶŐ ůĂǁ ĐŚĂŵďĞƌƐ ͬ ůĞŐĂů ƌĞƐƵůƚƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ĂŶĚ ŝƚƐ ŽƉĞƌĂƟŶŐ ĚŝǀŝƐŝŽŶƐ Žƌ ĂĐĐƌĞĚŝƚĂƟŽŶďŽĚŝĞƐĂƐŽŶĞŽĨƚŚĞůĞĂĚŝŶŐůĂǁLJĞƌƐŝŶ/ŶĚŝĂĂŶĚĂƐ ďƵƐŝŶĞƐƐƐĞŐŵĞŶƚƐ͕ŵŝŶƵƚĞƐŽĨŵĞĞƟŶŐƐŽĨƚŚĞŽĂƌĚĂŶĚ ƚŚĞůĞĂĚŝŶŐůĂǁLJĞƌĨŽƌƉƌŽũĞĐƚĮŶĂŶĐĞŝŶƐŝĂ͘ ŽĂƌĚŽŵŵŝƩĞĞƐ͕ƌĞƐŽůƵƟŽŶƐƉĂƐƐĞĚďLJĐŝƌĐƵůĂƟŽŶƐĂŶĚ ,Ğ ŝƐ ŝƌĞĐƚŽƌ ŽŶ ƚŚĞ ŽĂƌĚ ŽĨ ŵďƵũĂ ĞŵĞŶƚƐ >ŝŵŝƚĞĚ͕ ĂũĂũ ŽĂƌĚŵŝŶƵƚĞƐŽĨƚŚĞƐƵďƐŝĚŝĂƌLJĐŽŵƉĂŶŝĞƐ͕^ŚŽǁĐĂƵƐĞͬ ŽƌƉ͘ >ŝŵŝƚĞĚ͕ ĞĂƚ >ŝŵŝƚĞĚ͕ &ŝƌƐƚƐŽƵƌĐĞƐ ^ŽůƵƟŽŶƐ >ŝŵŝƚĞĚ͕ ĚĞŵĂŶĚ ͬ ƉƌŽƐĞĐƵƟŽŶ ŶŽƟĐĞƐ ĂŶĚ ƉĞŶĂůƚLJ ŶŽƟĐĞƐ ǁŚŝĐŚ ,ĂƌƌŝƐŽŶƐ DĂůĂLJĂůĂŵ >ŝŵŝƚĞĚ͕ /EKy >ĞŝƐƵƌĞ >ŝŵŝƚĞĚ͕ :^t /ƐƉĂƚ are materially important, fatal or serious accidents, details ^ƚĞĞů >ŝŵŝƚĞĚ͕ EĂƟŽŶĂů ŶŐŝŶĞĞƌŝŶŐ /ŶĚƵƐƚƌŝĞƐ >ŝŵŝƚĞĚ͕ ^ƚĞƌůŝƚĞ ŽĨ ĂŶLJ ĂĐƋƵŝƐŝƟŽŶ ĂŶĚ ũŽŝŶƚ ǀĞŶƚƵƌĞƐ͕ ƌĞƉŽƌƚƐ ŽŶ ĨŽƌĞŝŐŶ Technologies Limited, The West Coast Paper Mills Limited, Torrent ĞdžĐŚĂŶŐĞ ĞdžƉŽƐƵƌĞƐ͕ ĚŝƐĐůŽƐƵƌĞƐ ƌĞĐĞŝǀĞĚ ĨƌŽŵ ŝƌĞĐƚŽƌƐ͕ WŚĂƌŵĂĐĞƵƟĐĂůƐ >ŝŵŝƚĞĚ͕ yƉƌŽ /ŶĚŝĂ >ŝŵŝƚĞĚ͕ sd >ŝŵŝƚĞĚ͕ ƌĞůĂƚĞĚ ƉĂƌƚLJ ƚƌĂŶƐĂĐƟŽŶƐ͕ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ƚŚĞ ŽŵƉĂŶLJ 'ƌĞĂƚĂƐƚĞƌŶŶĞƌŐLJŽƌƉŽƌĂƟŽŶ>ŝŵŝƚĞĚ͕sŝŶĂƌ^LJƐƚĞŵƐWƌŝǀĂƚĞ ĂŶĚƉƌŽũĞĐƚƐƵŶĚĞƌŝŵƉůĞŵĞŶƚĂƟŽŶ͕ƐŝŐŶŝĮĐĂŶƚƚƌĂŶƐĂĐƟŽŶƐ >ŝŵŝƚĞĚ͘ ,Ğ ŝƐ ĂůƐŽ Ă ŵĞŵďĞƌ ŽĨ ƵĚŝƚ ŽŵŵŝƩĞĞ ŽĨ ,ĂƌƌŝƐŽŶƐ ĂŶĚ ĂƌƌĂŶŐĞŵĞŶƚƐ ĞŶƚĞƌĞĚ ďLJ ƐƵďƐŝĚŝĂƌLJ ĐŽŵƉĂŶŝĞƐ͕ DĂůĂLJĂůĂŵ>ŝŵŝƚĞĚ͕/ŶŽdž>ĞŝƐƵƌĞ>ŝŵŝƚĞĚ͕:^t/ƐƉĂƚ^ƚĞĞů>ŝŵŝƚĞĚ͕ ĂĐƟŽŶƚĂŬĞŶƌĞƉŽƌƚŽŶĚĞĐŝƐŝŽŶƐƚĂŬĞŶŝŶŽĂƌĚŵĞĞƟŶŐƐ͘ EĂƟŽŶĂů ŶŐŝŶĞĞƌŝŶŐ /ŶĚƵƐƚƌŝĞƐ >ŝŵŝƚĞĚ͕ ^ƚĞƌůŝƚĞ dĞĐŚŶŽůŽŐŝĞƐ ĞĐŝƐŝŽŶƐ ƚĂŬĞŶ Ăƚ ƚŚĞ ŽĂƌĚ ͬ ŽŵŵŝƩĞĞ ŵĞĞƟŶŐƐ ĂƌĞ >ŝŵŝƚĞĚ͕dŽƌƌĞŶƚWŚĂƌŵĂĐĞƵƟĐĂůƐ>ŝŵŝƚĞĚĂŶĚǀƚĞĐ>ŝŵŝƚĞĚ͘,ĞŝƐ communicated to the concerned departments. The minutes ĂůƐŽĂŵĞŵďĞƌŽĨ^ŚĂƌĞŚŽůĚĞƌƐ'ƌŝĞǀĂŶĐĞŽŵŵŝƩĞĞŽĨEĂƟŽŶĂů ĂƌĞĂƉƉƌŽǀĞĚďLJƚŚĞŽĂƌĚͬŽŵŵŝƩĞĞĂƚŝƚƐŶĞdžƚDĞĞƟŶŐ͘ Engineering Industries Limited, JSW Ispat Steel Limited. He is a ŵĞŵďĞƌŽĨƵĚŝƚĐŽŵŵŝƩĞĞŽĨƚŚĞŽŵƉĂŶLJ͘ ϯΉ KDD/dd^K&d,KZ ^Śƌŝ,ĂƌĚŝƉ^ŝŶŐŚ tŝƌŬŝƐĂŶ/ŶĚĞƉĞŶĚĞŶƚŝƌĞĐƚŽƌŽŶƚŚĞŽĂƌĚ  dŚĞ ŽĂƌĚ ŽŵŵŝƩĞĞƐ ƉůĂLJ Ă ǀŝƚĂů ƌŽůĞ ŝŶ ƐƚƌĞŶŐƚŚĞŶŝŶŐ ŽĨƚŚĞŽŵƉĂŶLJ͘,ĞŚŽůĚƐĂďĂĐŚĞůŽƌ͛ƐĚĞŐƌĞĞŝŶůĂǁĨƌŽŵĞůŚŝ ƚŚĞŽƌƉŽƌĂƚĞ'ŽǀĞƌŶĂŶĐĞƉƌĂĐƟĐĞƐĂŶĚĨŽĐƵƐĞīĞĐƟǀĞůLJ University. He started his career in 1998 as a lawyer with Shri ŽŶ ƚŚĞ ŝƐƐƵĞƐ ĂŶĚ ĞŶƐƵƌĞƐ ĞdžƉĞĚŝĞŶƚ ƌĞƐŽůƵƟŽŶ ŽĨ ƚŚĞ P. V. Kapur, Sr. Advocate and has handled various cases in Delhi ĚŝǀĞƌƐĞ ŵĂƩĞƌƐ͘ dŚĞ ŽŵŵŝƩĞĞƐ ĂůƐŽ ŵĂŬĞ ƐƉĞĐŝĮĐ ,ŝŐŚŽƵƌƚ͕ŽŵƉĂŶLJ>ĂǁŽĂƌĚ͕ŽŶƐƵŵĞƌ&ŽƌƵŵĂŶĚ^ƵƉƌĞŵĞ ƌĞĐŽŵŵĞŶĚĂƟŽŶƐ ƚŽ ƚŚĞ ŽĂƌĚ ŽŶ ǀĂƌŝŽƵƐ ŵĂƩĞƌƐ ǁŚĞŶ ŽƵƌƚŽĨ/ŶĚŝĂ͘dŚĞƌĞĂŌĞƌ͕ŚĞũŽŝŶĞĚDͬƐdƌŝůĞŐĂů͕ĂŽƌƉŽƌĂƚĞ>Ăǁ ƌĞƋƵŝƌĞĚ͘ůůŽďƐĞƌǀĂƟŽŶƐ͕ƌĞĐŽŵŵĞŶĚĂƟŽŶƐĂŶĚĚĞĐŝƐŝŽŶƐ ĮƌŵǁŚĞƌĞŚĞƐƉĞĐŝĂůŝƐĞĚŝŶĨŽƌĞŝŐŶŝŶǀĞƐƚŵĞŶƚƐ͕ƌĞĂůĞƐƚĂƚĞĂŶĚ ŽĨ ƚŚĞ ŽŵŵŝƩĞĞƐ ĂƌĞ ƉůĂĐĞĚ ďĞĨŽƌĞ ƚŚĞ ŽĂƌĚ ĨŽƌ general corporate advice. In 2005, he started his independent ŝŶĨŽƌŵĂƟŽŶŽƌĨŽƌĂƉƉƌŽǀĂů͘

96 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Governance Report

 dŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐŚĂƐ͕ĨƌŽŵƟŵĞƚŽƟŵĞ͕ĐŽŶƐƟƚƵƚĞĚ review of the adequacy and compliance of internal ƚŚĞĨŽůůŽǁŝŶŐŽŵŵŝƩĞĞƐ͕ŶĂŵĞůLJ͗ ĐŽŶƚƌŽů ƐLJƐƚĞŵƐ ĂŶĚ ƚŚĞ ŝŶƚĞƌŶĂů ĂƵĚŝƚ ĨƵŶĐƟŽŶ͖  ϭͿ ƵĚŝƚŽŵŵŝƩĞĞ ƌĞǀŝĞǁŽĨĐŽŵƉůŝĂŶĐĞǁŝƚŚůĂǁƐ͖ŝŶƐƉĞĐƟŽŶŽĨƌĞĐŽƌĚƐ  ϮͿ EŽŵŝŶĂƟŽŶĂŶĚZĞŵƵŶĞƌĂƟŽŶŽŵŵŝƩĞĞ ĂŶĚĂƵĚŝƚƌĞƉŽƌƚƐ ĂŶĚƌĞƉŽƌƚƐŽĨ ƐƚĂƚƵƚŽƌLJ ĂƵĚŝƚŽƌƐ͖ ƌĞǀŝĞǁ ŽĨ ĮŶĚŝŶŐƐ ŽĨ ŝŶƚĞƌŶĂů ŝŶǀĞƐƟŐĂƟŽŶƐ͖ ƌĞǀŝĞǁ  ϯͿ ^ŚĂƌĞŚŽůĚĞƌƐ͛ͬ/ŶǀĞƐƚŽƌƐ͛'ƌŝĞǀĂŶĐĞŽŵŵŝƩĞĞ ŽĨƐƚĂƚĞŵĞŶƚŽĨƐŝŐŶŝĮĐĂŶƚƌĞůĂƚĞĚƉĂƌƚLJƚƌĂŶƐĂĐƟŽŶƐ͖  ϰͿ ,ĞĂůƚŚ͕^ĂĨĞƚLJ͕^ZĂŶĚŶǀŝƌŽŶŵĞŶƚŽŵŵŝƩĞĞ ƌĞǀŝĞǁ ŽĨ ŵĂŶĂŐĞŵĞŶƚ ůĞƩĞƌƐ ͬ ůĞƩĞƌ ŽĨ ŝŶƚĞƌŶĂů  ϱͿ 'ŽǀĞƌŶĂŶĐĞĂŶĚƵƐŝŶĞƐƐƚŚŝĐƐŽŵŵŝƩĞĞ ĐŽŶƚƌŽů ǁĞĂŬŶĞƐƐĞƐ ŝƐƐƵĞĚ ďLJ ƐƚĂƚƵƚŽƌLJ ĂƵĚŝƚŽƌƐ͖  ϲͿ ^ƵďͲŽŵŵŝƩĞĞŽĨŝƌĞĐƚŽƌƐ ĚŝƐĐƵƐƐŝŽŶŽŶƚŚĞƐĐŽƉĞŽĨĂƵĚŝƚǁŝƚŚĞdžƚĞƌŶĂůĂƵĚŝƚŽƌƐ ĂŶĚĞdžĂŵŝŶĂƟŽŶŽĨƌĞĂƐŽŶƐĨŽƌƐƵďƐƚĂŶƟĂůĚĞĨĂƵůƚƐ͕ŝĨ  ϳͿ ŽŵƉĞŶƐĂƟŽŶŽŵŵŝƩĞĞ ĂŶLJ͕ŝŶƚŚĞƉĂLJŵĞŶƚƚŽƐƚĂŬĞŚŽůĚĞƌƐ͘  sŝĚĞŽ ŽŶĨĞƌĞŶĐŝŶŐ ĨĂĐŝůŝƟĞƐ ĂƌĞ ĂůƐŽ ƵƐĞĚ ƚŽ ĨĂĐŝůŝƚĂƚĞ  ŽŵƉŽƐŝƟŽŶ ŝƌĞĐƚŽƌƐ ͬ ŵĞŵďĞƌƐ ƉƌĞƐĞŶƚ Ăƚ ŽƚŚĞƌ ůŽĐĂƟŽŶƐ ƚŽ ƉĂƌƟĐŝƉĂƚĞŝŶƚŚĞŵĞĞƟŶŐƐ͘  dŚĞ ŽĂƌĚ ŚĂƐ ĐŽŶƐƟƚƵƚĞĚ ƚŚĞ ƵĚŝƚ ŽŵŵŝƩĞĞ ŝŶ 1999 and comprises of four directors out of which ŝͿ ƵĚŝƚŽŵŵŝƩĞĞ ƚŚƌĞĞ ĂƌĞ EŽŶ džĞĐƵƟǀĞ /ŶĚĞƉĞŶĚĞŶƚ ŝƌĞĐƚŽƌƐ͕  dŚĞƵĚŝƚŽŵŵŝƩĞĞŝƐǀĞƐƚĞĚǁŝƚŚƌŽůĞĂŶĚƉŽǁĞƌƐĂƐ namely, Shri R. V. Shahi, Shri Arun Kumar and Shri ŵĞŶƟŽŶĞĚŝŶƉĂƌĂΘŽĨůĂƵƐĞϰϵ;//ͿŽĨƚŚĞ>ŝƐƟŶŐ Haigreve Khaitan, Shri Sushil Maroo, who is also a ŐƌĞĞŵĞŶƚ͘dŚĞƵĚŝƚŽŵŵŝƩĞĞƉƌŽǀŝĚĞƐĚŝƌĞĐƟŽŶ ŵĞŵďĞƌ͕ŝƐ LJ͘ DĂŶĂŐŝŶŐ ŝƌĞĐƚŽƌ ŽĨ ƚŚĞ ŽŵƉĂŶLJ͘ ƚŽ ƚŚĞ ĂƵĚŝƚ ĨƵŶĐƟŽŶƐ ĂŶĚ ŵŽŶŝƚŽƌƐ ƚŚĞ ƋƵĂůŝƚLJ ŽĨ ^ŚƌŝZ͘s͘^ŚĂŚŝŝƐƚŚĞŚĂŝƌŵĂŶŽĨƵĚŝƚŽŵŵŝƩĞĞ͘ ŝŶƚĞƌŶĂů ĂŶĚ ƐƚĂƚƵƚŽƌLJ ĂƵĚŝƚ͘ dŚĞ ƌĞƐƉŽŶƐŝďŝůŝƟĞƐ ŽĨ dŚĞĐŽŵƉŽƐŝƟŽŶŽĨƚŚĞƵĚŝƚŽŵŵŝƩĞĞŵĞĞƚƐƚŚĞ ƚŚĞƵĚŝƚŽŵŵŝƩĞĞŝŶĐůƵĚĞŽǀĞƌƐĞĞŝŶŐƚŚĞĮŶĂŶĐŝĂů ƌĞƋƵŝƌĞŵĞŶƚƐ ŽĨ ^ĞĐƟŽŶ ϮϵϮ ŽĨ ƚŚĞ ŽŵƉĂŶŝĞƐ ƌĞƉŽƌƟŶŐƉƌŽĐĞƐƐƚŽĞŶƐƵƌĞĨĂŝƌŶĞƐƐ͕ƐƵĸĐŝĞŶĐLJĂŶĚ Đƚ͕ ϭϵϱϲ ĂŶĚ ůĂƵƐĞ ϰϵ ŽĨ ƚŚĞ ůŝƐƟŶŐ ĂŐƌĞĞŵĞŶƚ͘ ĐƌĞĚŝďŝůŝƚLJ ŽĨ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ͖ ƌĞǀŝĞǁ ĮŶĚŝŶŐƐ The Company Secretary acts as the secretary to the ŽĨ ŝŶƚĞƌŶĂů ĂƵĚŝƚŽƌƐ ƌĞůĂƟŶŐ ƚŽ ĨƵŶĐƟŽŶƐ ŽĨ ǀĂƌŝŽƵƐ ŽŵŵŝƩĞĞ͘ ƵŶŝƚƐ͕ ŽĸĐĞƐ͕ ƉƌŽũĞĐƚ ƐŝƚĞƐ ĞƚĐ͖ ŚŽůĚŝŶŐ ĚŝƐĐƵƐƐŝŽŶƐ with statutory auditors, internal auditors and cost  DĞĞƟŶŐƐĂŶĚƩĞŶĚĂŶĐĞ ĂƵĚŝƚŽƌƐ͖ ƌĞĐŽŵŵĞŶĚĂƟŽŶ ŽĨ ĂƉƉŽŝŶƚŵĞŶƚ ĂŶĚ  ŝŐŚƚ ƵĚŝƚ ŽŵŵŝƩĞĞ ŵĞĞƟŶŐƐ ǁĞƌĞ ŚĞůĚ ŽŶ ϰƚŚ removal of statutory auditors and cost auditors and April, 2012, 27th April, 2012, 4th July, 2012, 24th July, ĂƉƉŽŝŶƚŵĞŶƚŽĨŝŶƚĞƌŶĂůĂƵĚŝƚŽƌƐĂŶĚĮdžĂƟŽŶŽĨƚŚĞŝƌ ϮϬϭϮ͕ϯƌĚKĐƚŽďĞƌ͕ϮϬϭϮ͕ϵƚŚEŽǀĞŵďĞƌ͕ϮϬϭϮ͕ϳƚŚ ƌĞŵƵŶĞƌĂƟŽŶ͖ ƌĞǀŝĞǁ ŽĨ ƚŚĞ ƋƵĂƌƚĞƌůLJ ĂŶĚ ĂŶŶƵĂů :ĂŶƵĂƌLJ͕ ϮϬϭϯ ĂŶĚ ϭϮƚŚ &ĞďƌƵĂƌLJ͕ ϮϬϭϯ ĚƵƌŝŶŐ ƚŚĞ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ ďĞĨŽƌĞ ƐƵďŵŝƐƐŝŽŶ ƚŽ ŽĂƌĚ͖ ĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϮͲϭϯ͘

 ĞƚĂŝůƐŽĨŵĞĞƟŶŐƐĂƩĞŶĚĞĚďLJƚŚĞŵĞŵďĞƌƐĂƌĞŐŝǀĞŶďĞůŽǁ͗Ͳ

^ƌ͘ ŽŵŵŝƩĞĞDĞŵďĞƌƐ WŽƐŝƟŽŶ DĞĞƟŶŐƐŚĞůĚ DĞĞƟŶŐƐƩĞŶĚĞĚ EŽ͘ 1 Shri R. V. Shahi Chairman 8 8 2 Shri Arun Kumar DĞŵďĞƌ 88 3 Shri Haigreve Khaitan DĞŵďĞƌ 84 4 Shri Sushil Maroo DĞŵďĞƌ 87

 /ŶƚĞƌŶĂůƵĚŝƚ ŝŝͿ EŽŵŝŶĂƟŽŶĂŶĚZĞŵƵŶĞƌĂƟŽŶŽŵŵŝƩĞĞ The Company has an Internal Audit Department In compliance with non-mandatory requirement ĐŽŶƐŝƐƟŶŐ ŽĨ ŚĂƌƚĞƌĞĚ ĐĐŽƵŶƚĂŶƚƐ ĂŶĚ ŽƚŚĞƌ ŽĨ ůĂƵƐĞ ϰϵ ŽĨ ƚŚĞ ůŝƐƟŶŐ ĂŐƌĞĞŵĞŶƚ͕ ƚŚĞ ŽĂƌĚ ƋƵĂůŝĮĞĚ ƉƌŽĨĞƐƐŝŽŶĂůƐ ǁŚŝĐŚ ŝƐ ŚĞĂĚĞĚ ďLJ Ă ƐĞŶŝŽƌ ŽĨ ŝƌĞĐƚŽƌƐ͕ ŚĂƐ ĐŽŶƐƟƚƵƚĞĚ Ă EŽŵŝŶĂƟŽŶ ĂŶĚ ĂŶĚĞdžƉĞƌŝĞŶĐĞĚƉƌŽĨĞƐƐŝŽŶĂůŽĨƚŚĞůĞǀĞůŽĨWƌĞƐŝĚĞŶƚ͘ ZĞŵƵŶĞƌĂƟŽŶ ŽŵŵŝƩĞĞ͘ dŚĞ ĐŽŵŵŝƩĞĞ ƉĞƌĨŽƌŵƐ dŚĞŽŵƉĂŶLJŚĂƐĞŶŐĂŐĞĚƚŚƌĞĞĮƌŵƐŽĨŚĂƌƚĞƌĞĚ ƚŚĞĨŽůůŽǁŝŶŐĨƵŶĐƟŽŶƐ͘ ĐĐŽƵŶƚĂŶƚƐ ǁŚŝĐŚ ĂƌĞ ĐŽŶĚƵĐƟŶŐ ŝŶƚĞƌŶĂů ĂƵĚŝƚ ŽĨ ǁŽƌŬƐ͕ĞƐƚĂďůŝƐŚŵĞŶƚƐ͕ƐƚŽĐŬLJĂƌĚƐ͕ŵĂƌŬĞƟŶŐŽĸĐĞƐ ϭ͘ ^ĞůĞĐƟŽŶ ŽĨ ĐĂŶĚŝĚĂƚĞƐ ĨŽƌ ƚŚĞ ƉŽƐŝƟŽŶƐ ŽĨ and projects sites. The Internal Audit Department and DĂŶĂŐŝŶŐ ŝƌĞĐƚŽƌƐ ͬ tŚŽůĞƟŵĞ ŝƌĞĐƚŽƌƐ these Auditors present Internal Audit Reports at every whether designated as Joint Managing Director/ ƋƵĂƌƚĞƌůLJŵĞĞƟŶŐƚŽƚŚĞƵĚŝƚĐŽŵŵŝƩĞĞŚŝŐŚůŝŐŚƟŶŐ Dy. Managing Director or otherwise and their ƚŚĞ ŚŝŐŚ ƌŝƐŬ ĂƌĞĂƐ͕ ŝŶƚĞƌŶĂů ĐŽŶƚƌŽů ǁĞĂŬŶĞƐƐĞƐ ƌĞĐŽŵŵĞŶĚĂƟŽŶ ƚŽ ƚŚĞ ŽĂƌĚ ŽĨ ŝƌĞĐƚŽƌƐ ĨŽƌ ĂŶĚ ĂĐƟŽŶ ƚĂŬĞŶ ďLJ ƚŚĞ ŵĂŶĂŐĞŵĞŶƚ ƚŽ ŵŝƟŐĂƚĞ appointment along with period of appointment. the same.

97 Annual Report 2012-13 Ϯ͘ ĞƚĞƌŵŝŶĂƟŽŶ ŽĨ ƌĞŵƵŶĞƌĂƟŽŶ ƉĂĐŬĂŐĞƐ ŽĨ ϰ͘ ĞƚĞƌŵŝŶĂƟŽŶ ŽĨ ƚĞƌŵƐ ŽĨ ƉĂLJŵĞŶƚ ŽĨ DĂŶĂŐŝŶŐ ŝƌĞĐƚŽƌƐ ͬ tŚŽůĞƟŵĞ ŝƌĞĐƚŽƌƐ ƌĞŵƵŶĞƌĂƟŽŶĞŝƚŚĞƌďLJǁĂLJŽĨĐŽŵŵŝƐƐŝŽŶĂŶĚͬ whether designated as Joint Managing Director/ Žƌ ŽƚŚĞƌǁŝƐĞ ƚŽ EŽŶͲdžĞĐƵƟǀĞ ŝƌĞĐƚŽƌƐ ĂŶĚ Dy. Managing Director or otherwise including ƚŚĞŝƌƌĞǀŝƐŝŽŶ͕ĨƌŽŵƟŵĞƚŽƟŵĞ͘ ƐĂůĂƌLJ͕ ďĞŶĞĮƚƐ͕ ƉĞƌƋƵŝƐŝƚĞƐ͕ ĂůůŽǁĂŶĐĞƐ͕ ƌĞŝŵďƵƌƐĞŵĞŶƚƐ͕ ĨĂĐŝůŝƟĞƐ͕ ƐŚĂƌĞ ŝŶ ƉƌŽĮƚƐ͕ ϱ͘ dŽĚŽ ĨŽƌ ĂŶĚ ŽŶ ďĞŚĂůĨ ŽĨ ƚŚĞ ŽĂƌĚ Ăůů ĂĐƚƐ͕ ŵĂŶĂŐĞŵĞŶƚ ŝŶĐĞŶƟǀĞƐ͕ ƐƚŽĐŬ ŽƉƟŽŶƐ ĞƚĐ͘ ŝŶ ĚĞĞĚƐ ĂŶĚ ƚŚŝŶŐƐ ǁŚŝĐŚ ŵĂLJ ďĞ ŶĞĐĞƐƐĂƌLJ ĨŽƌ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ƐĞĐƟŽŶ ϭϵϴ͕ ϯϬϵ ĂŶĚ ŽƚŚĞƌ ĞīĞĐƟǀĞŝŵƉůĞŵĞŶƚĂƟŽŶŽĨƚŚĞĨŽƌĞŐŽŝŶŐĂĐƚƐ͘ ĂƉƉůŝĐĂďůĞ ƉƌŽǀŝƐŝŽŶƐ ĂŶĚ ƐĐŚĞĚƵůĞ y/// ƚŽ the Companies Act, 1956 and the Company’s  ŽŵƉŽƐŝƟŽŶ ƉŽůŝĐŝĞƐĂŶĚƚŚĞŝƌƌĞĐŽŵŵĞŶĚĂƟŽŶƚŽƚŚĞŽĂƌĚ  dŚĞ EŽŵŝŶĂƟŽŶ ĂŶĚ ZĞŵƵŶĞƌĂƟŽŶ ŽŵŵŝƩĞĞ of Directors. ĐŽŵƉƌŝƐĞƐĞŶƟƌĞůLJŽĨ/ŶĚĞƉĞŶĚĞŶƚŝƌĞĐƚŽƌƐ͕ŶĂŵĞůLJ͕ Shri Arun Kumar, Shri A. K. Purwar and Shri Hardip ϯ͘ ĞƚĞƌŵŝŶĂƟŽŶ͕ĨƌŽŵ ƟŵĞƚŽ ƟŵĞ͕ŽĨƚĞƌŵƐŽĨ ƌĞǀŝƐŝŽŶƐŽĨƌĞŵƵŶĞƌĂƟŽŶŽĨDĂŶĂŐŝŶŐŝƌĞĐƚŽƌƐ ^ŝŶŐŚ tŝƌŬ͘ ^Śƌŝ ƌƵŶ <ƵŵĂƌ ŝƐ ŚĂŝƌŵĂŶ ŽĨ ƚŚĞ ͬ tŚŽůĞƟŵĞ ŝƌĞĐƚŽƌƐ ǁŚĞƚŚĞƌ ĚĞƐŝŐŶĂƚĞĚ ŽŵŵŝƩĞĞ͘ ^ĞŶŝŽƌ KĸĐĞƌƐ ŽĨ ,Z ĚĞƉĂƌƚŵĞŶƚ ĂƌĞ as Joint Managing Director/ Dy. Managing ŝŶǀŝƚĞĚƚŽďƌŝĞĨƚŚĞŵĞŵďĞƌƐĂďŽƵƚƚŚĞŝŶŝƟĂƟǀĞƐĂŶĚ ŝƌĞĐƚŽƌŽƌŽƚŚĞƌǁŝƐĞŝŶĐůƵĚŝŶŐƐĂůĂƌLJ͕ďĞŶĞĮƚƐ͕ ŽƚŚĞƌŝƐƐƵĞƐƌĞůĂƟŶŐƚŽĂƉƉŽŝŶƚŵĞŶƚͬƌĞŵƵŶĞƌĂƟŽŶ ƉĞƌƋƵŝƐŝƚĞƐ͕ ĂůůŽǁĂŶĐĞƐ͕ ƌĞŝŵďƵƌƐĞŵĞŶƚƐ͕ ŽĨDĂŶĂŐŝŶŐͬtŚŽůĞƟŵĞŝƌĞĐƚŽƌƐ͘ ĨĂĐŝůŝƟĞƐ͕ ƐŚĂƌĞ ŝŶ ƉƌŽĮƚƐ͕ ŵĂŶĂŐĞŵĞŶƚ ŝŶĐĞŶƟǀĞƐ͕ ƐƚŽĐŬ ŽƉƟŽŶƐ ĞƚĐ͘ ŝŶ ĂĐĐŽƌĚĂŶĐĞ  DĞĞƟŶŐƐĂŶĚƩĞŶĚĂŶĐĞ ǁŝƚŚ ƐĞĐƟŽŶ ϭϵϴ͕ ϯϬϵ ĂŶĚ ŽƚŚĞƌ ĂƉƉůŝĐĂďůĞ  dŚĞŽŵŵŝƩĞĞŵĞƚƚŚƌĞĞƟŵĞƐŽŶϮϵƚŚ^ĞƉƚĞŵďĞƌ͕ ƉƌŽǀŝƐŝŽŶƐ ĂŶĚ ƐĐŚĞĚƵůĞ y/// ƚŽ ƚŚĞ ŽŵƉĂŶŝĞƐ ϮϬϭϮ͕ ϵƚŚ EŽǀĞŵďĞƌ͕ ϮϬϭϮ ĂŶĚ ϮϲƚŚ DĂƌĐŚ͕ ϮϬϭϯ Act, 1956 and the Company’s policies and their ĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϮͲϭϯ͘ ƌĞĐŽŵŵĞŶĚĂƟŽŶƚŽƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐ͘

 ĞƚĂŝůƐŽĨŵĞĞƟŶŐƐĂƩĞŶĚĞĚďLJƚŚĞŵĞŵďĞƌƐĂƌĞŐŝǀĞŶďĞůŽǁ͗

^ƌ͘ ŽŵŵŝƩĞĞDĞŵďĞƌƐ WŽƐŝƟŽŶ DĞĞƟŶŐƐ,ĞůĚ DĞĞƟŶŐƐƩĞŶĚĞĚ EŽ͘ 1 Shri Arun Kumar Chairman 3 3 2 Shri A. K. Purwar DĞŵďĞƌ 32 3 ^Śƌŝ,ĂƌĚŝƉ^ŝŶŐŚtŝƌŬ DĞŵďĞƌ 33

 dŚĞŽŵƉĂŶLJƉĂLJƐƌĞŵƵŶĞƌĂƟŽŶďLJǁĂLJŽĨƐĂůĂƌLJ͕ƉĞƌƋƵŝƐŝƚĞƐ͕ŝŶĐĞŶƟǀĞƐ͕ƐŚĂƌĞŝŶƉƌŽĮƚƐ͕ĂůůŽǁĂŶĐĞƐ͕ĞƚĐ͘ĂŶĚƚĂƌŐĞƚďĂƐĞĚ ǀĂƌŝĂďůĞƉĂLJƚŽŝƚƐDĂŶĂŐŝŶŐͬtŚŽůĞƟŵĞŝƌĞĐƚŽƌƐ͘dŚĞĮdžĞĚĐŽŵƉŽŶĞŶƚŝƐƉĂŝĚŽŶĂŵŽŶƚŚůLJďĂƐŝƐĂŶĚƚŚĞǀĂƌŝĂďůĞƉĂLJ ŝƐƉĂŝĚŽŶƚŚĞďĂƐŝƐŽĨƚŚĞƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚĞŽŵƉĂŶLJŝŶŐĞŶĞƌĂůĂŶĚƚŚĞŝŶĚŝǀŝĚƵĂůƉĞƌĨŽƌŵĂŶĐĞĂƚƚŚĞĞŶĚŽĨĮŶĂŶĐŝĂů LJĞĂƌ͘ŶŶƵĂůŝŶĐƌĞŵĞŶƚƐĂƌĞĞīĞĐƟǀĞĨƌŽŵϭƐƚƉƌŝůĞĂĐŚLJĞĂƌ͕ĂƐƌĞĐŽŵŵĞŶĚĞĚďLJƚŚĞEŽŵŝŶĂƟŽŶĂŶĚZĞŵƵŶĞƌĂƟŽŶ ŽŵŵŝƩĞĞĂŶĚĂƉƉƌŽǀĞĚďLJƚŚĞŽĂƌĚĂŶĚƐŚĂƌĞŚŽůĚĞƌƐ͘dŚĞŽŵƉĂŶLJŝƐƉĂLJŝŶŐƐŝƫŶŐĨĞĞƐŽĨ`ϮϬ͕ϬϬϬƉĞƌŵĞĞƟŶŐƚŽƚŚĞ EƐĨŽƌĂƩĞŶĚŝŶŐƚŚĞŵĞĞƟŶŐƐŽĨƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐĂŶĚŽŵŵŝƩĞĞƐƚŚĞƌĞŽĨ͘  ZĞŵƵŶĞƌĂƟŽŶŽĨŝƌĞĐƚŽƌƐ  ĞƚĂŝůƐŽĨƌĞŵƵŶĞƌĂƟŽŶƉĂŝĚƚŽŝƌĞĐƚŽƌƐŽĨƚŚĞŽŵƉĂŶLJĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚŽŶϯϭƐƚDĂƌĐŚ͕ϮϬϭϯĂƌĞĂƐĨŽůůŽǁƐ͗

(` in Lacs) ^ƌ͘ Name ^ŝƫŶŐ&ĞĞƐ ^ĂůĂƌLJ WĞƌƋƵŝƐŝƚĞƐĂŶĚ ^ŚĂƌĞƐŝŶWƌŽĮƚͬ dŽƚĂů EŽ ĞŶĞĮƚƐ /ŶĐĞŶƟǀĞ 1. Shri Ratan Jindal 0.60 ------2. ^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂů --- 1,209.60 0.40 4,288.35 5,498.35 3. Smt. Shallu Jindal 1.00 ------4. Shri Ravi Uppal --- 137.03 20.37 145.00 302.40 5. ^ŚƌŝsŝŬƌĂŶƚ'ƵũƌĂů --- 132.21 0.23 0 132.44 6. Shri Anand Goel --- 263.70 0.40 --- 264.10 7. ^Śƌŝ/͘W^͘<ĂůƌĂΎ 0.80 ------8. Shri Arun Kumar 3.60 ------9. Shri A. K Purwar 1.40 ------10. Shri R.V. Shahi 2.60 ------11. Shri Sushil K. Maroo 3.20 ------12. Shri Haigreve 1.40 ------Khaitan

98 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Governance Report

(` in Lacs) ^ƌ͘ Name ^ŝƫŶŐ&ĞĞƐ ^ĂůĂƌLJ WĞƌƋƵŝƐŝƚĞƐĂŶĚ ^ŚĂƌĞƐŝŶWƌŽĮƚͬ dŽƚĂů EŽ ĞŶĞĮƚƐ /ŶĐĞŶƟǀĞ 13. Shri Hardip Singh 1.80 ------tŝƌŬ 14. Shri Rahul Mehra 0.40 ------15. ^ŚƌŝE͘ŶƐĂƌŝ --- 24.42 0.30 --- 24.72 16. Shri Sudershan 0.80 ------Kumar Garg 17. Shri Manohar Lal --- 16.34 ------16.34 Gupta 18. Shri Dinesh Kumar --- 41.42 ------41.42 Saraogi  Ύ/ŶĐĂƐĞŽĨEŽŵŝŶĞĞŝƌĞĐƚŽƌ͕ƚŚĞƐŝƫŶŐĨĞĞǁĂƐĚŝƌĞĐƚůLJƉĂŝĚƚŽ//ĂŶŬ>ŝŵŝƚĞĚ͘ EŽƚĞƐ͗ ϭͿ EŽŶdžĞĐƵƟǀĞŝƌĞĐƚŽƌƐŽĨƚŚĞŽŵƉĂŶLJĂƌĞŶŽƚƉĂŝĚĂŶLJƌĞŵƵŶĞƌĂƟŽŶŽƚŚĞƌƚŚĂŶƐŝƫŶŐĨĞĞƐ͘ ϮͿ ^ĂůĂƌLJΘƉĞƌƋƵŝƐŝƚĞƐŝŶĐůƵĚĞĂůůĞůĞŵĞŶƚƐŽĨƌĞŵƵŶĞƌĂƟŽŶŝ͘Ğ͘ƐĂůĂƌLJ͕ƌĞŝŵďƵƌƐĞŵĞŶƚĂŶĚŽƚŚĞƌĂůůŽǁĂŶĐĞƐĂŶĚďĞŶĞĮƚƐ ŝŶĐůƵĚŝŶŐĞŵƉůŽLJĞƌ͛ƐƉƌŽǀŝĚĞŶƚĨƵŶĚĐŽŶƚƌŝďƵƟŽŶĂŶĚƉĞƌƋƵŝƐŝƚĞǀĂůƵĞ͘ ϯͿ /ŶĂĚĚŝƟŽŶƚŽĂďŽǀĞƐĂůĂƌLJ͕tŚŽůĞƟŵĞŝƌĞĐƚŽƌƐĂƌĞĞŶƟƚůĞĚƚŽƉĂLJŵĞŶƚŽĨƚĂƌŐĞƚǀĂƌŝĂďůĞƉĂLJĨŽƌϮϬϭϮͲϭϯǁŚŝĐŚǁŝůů ďĞƉĂŝĚŝŶĚƵĞĐŽƵƌƐĞ͘dĂƌŐĞƚǀĂƌŝĂďůĞƉĂLJĨŽƌĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϭͲϭϮǁĂƐƉĂŝĚŝŶϮϬϭϮͲϭϯĂŶĚŚĂƐďĞĞŶŝŶĐůƵĚĞĚŝŶƚŚĞŝƌ salary.

dĞŶƵƌĞŽĨ^ĞƌǀŝĐĞŽĨŝƌĞĐƚŽƌƐ

Name WĞƌŝŽĚ ĂƚĞŽĨƉƉŽŝŶƚŵĞŶƚ EŽƟĐĞWĞƌŝŽĚ ^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂů ϭƐƚKĐƚŽďĞƌ͕ϮϬϭϮƚŽ ϭƐƚKĐƚŽďĞƌ͕ϮϬϭϮ Eŝů ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϳ Shri Ravi Uppal ϭƐƚKĐƚŽďĞƌ͕ϮϬϭϮƚŽ ϭƐƚKĐƚŽďĞƌ͕ϮϬϭϮ 2 months ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϳ Shri Anand Goel 1st August, 2010 to 1st August, 2010 Eŝů 31st July, 2015 Shri Sushil Maroo 1st April, 2013 to 1st April, 2013 Eŝů 31st March, 2018 Shri Dinesh Kumar Saraogi ϵƚŚEŽǀĞŵďĞƌ͕ϮϬϭϮƚŽ ϵƚŚEŽǀĞŵďĞƌ͕ϮϬϭϮ Eŝů ϴƚŚEŽǀĞŵďĞƌ͕ϮϬϭϳ ƉƉŽŝŶƚŵĞŶƚ ŽĨ DĂŶĂŐŝŶŐ ͬ tŚŽůĞƟŵĞ ŝƌĞĐƚŽƌƐ ŝƐ ŐŽǀĞƌŶĞĚ ďLJ ƌĞƐŽůƵƟŽŶƐ ƉĂƐƐĞĚ ďLJ ƚŚĞ ŽĂƌĚ ŽĨ ŝƌĞĐƚŽƌƐ ĂŶĚ ƐŚĂƌĞŚŽůĚĞƌƐŽĨƚŚĞŽŵƉĂŶLJ͕ǁŚŝĐŚĐŽǀĞƌƚŚĞƚĞƌŵƐĂŶĚĐŽŶĚŝƟŽŶƐŽĨƐƵĐŚĂƉƉŽŝŶƚŵĞŶƚƐƌĞĂĚǁŝƚŚƚŚĞƐĞƌǀŝĐĞƌƵůĞƐŽĨƚŚĞ ŽŵƉĂŶLJ͘dŚĞƌĞŝƐŶŽƐĞƉĂƌĂƚĞƉƌŽǀŝƐŝŽŶĨŽƌƉĂLJŵĞŶƚŽĨƐĞǀĞƌĂŶĐĞĨĞĞƵŶĚĞƌƚŚĞƌĞƐŽůƵƟŽŶƐŐŽǀĞƌŶŝŶŐƚŚĞŝƌĂƉƉŽŝŶƚŵĞŶƚ͘

ŝŝŝͿ ^ŚĂƌĞŚŽůĚĞƌƐ͛ͬ/ŶǀĞƐƚŽƌƐ͛'ƌŝĞǀĂŶĐĞ appointment of Shri Arun Kumar, an Independent ŽŵŵŝƩĞĞ ŝƌĞĐƚŽƌ ŽŶ ƚŚŝƐ ĐŽŵŵŝƩĞĞ͘ ^Śƌŝ ŶĂŶĚ 'ŽĞů ĂŶĚ ^Śƌŝ^ƵƐŚŝůDĂƌŽŽĐŽŶƟŶƵĞƚŽďĞŝƚƐŽƚŚĞƌŵĞŵďĞƌƐ͘ dŚĞ^ŚĂƌĞŚŽůĚĞƌƐ͛ͬ/ŶǀĞƐƚŽƌƐ͛'ƌŝĞǀĂŶĐĞŽŵŵŝƩĞĞ ŚĂŝƌŵĂŶŝƐĞůĞĐƚĞĚďLJƚŚĞDĞŵďĞƌƐƉƌĞƐĞŶƚŝŶƚŚĞ ŚĂƐďĞĞŶĐŽŶƐƟƚƵƚĞĚŝŶƚĞƌŵƐŽĨůĂƵƐĞϰϵŽĨ>ŝƐƟŶŐ DĞĞƟŶŐ͘ƵƌŝŶŐƚŚĞLJĞĂƌƵŶĚĞƌƌĞƉŽƌƚŽŵƉĂŶLJŚĂƐ ŐƌĞĞŵĞŶƚĂŶĚŝƐĞŶƚƌƵƐƚĞĚǁŝƚŚƚŚĞƌĞƐƉŽŶƐŝďŝůŝƚLJŽĨ received 28 complaints from the shareholders and all addressing the shareholders’ / investors’ complaints these complaints were resolved as on 31st March, with respect to transfer of shares, non-receipt of 2013. Annual Report, non-receipt of dividend etc.  DĞĞƟŶŐƐĂŶĚƩĞŶĚĂŶĐĞ  ŽŵƉŽƐŝƟŽŶ  dŚĞŽŵŵŝƩĞĞŵĞƚϰƟŵĞƐŽŶϮϳƚŚƉƌŝů͕ϮϬϭϮ͕ϮϰƚŚ  dŚĞ ŽŵŵŝƩĞĞ ǁĂƐ ƌĞĐŽŶƐƟƚƵƚĞĚ ďLJ ƚŚĞ ŽĂƌĚ :ƵůLJ͕ ϮϬϭϮ͕ ϱƚŚ EŽǀĞŵďĞƌ͕ ϮϬϭϮ ĂŶĚ ϮŶĚ &ĞďƌƵĂƌLJ͕ ŝŶ ŝƚƐ ŵĞĞƟŶŐ ŚĞůĚ ŽŶ ϵƚŚ EŽǀĞŵďĞƌ͕ ϮϬϭϮ ǁŝƚŚ ϮϬϭϯĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϮͲϭϯ͘

99 Annual Report 2012-13  ĞƚĂŝůƐŽĨŵĞĞƟŶŐƐĂƩĞŶĚĞĚďLJƚŚĞŵĞŵďĞƌƐĂƌĞŐŝǀĞŶďĞůŽǁ͗Ͳ

^ƌ͘ ŽŵŵŝƩĞĞDĞŵďĞƌƐ WŽƐŝƟŽŶ DĞĞƟŶŐƐ,ĞůĚ DĞĞƟŶŐƐƩĞŶĚĞĚ EŽ͘ 1 ^ŚƌŝƌƵŶ<ƵŵĂƌΎ DĞŵďĞƌ 11 2 Shri Anand Goel DĞŵďĞƌ 44 3 Shri Sushil Maroo DĞŵďĞƌ 43

ΎĂƉƉŽŝŶƚĞĚĂƐDĞŵďĞƌǁ͘Ğ͘Ĩ͘ϵƚŚEŽǀĞŵďĞƌ͕ϮϬϭϮ The Company has set up a dedicated e-mail id - [email protected] for investors to send their grievances.

ŝǀͿ ,ĞĂůƚŚ͕ ^ĂĨĞƚLJ͕ ^Z ĂŶĚ ŶǀŝƌŽŶŵĞŶƚ ƐŚĂůůŝŶĚŝĐĂƚĞƚŚĞĂĐƟǀŝƟĞƐƚŽďĞƵŶĚĞƌƚĂŬĞŶďLJ ŽŵŵŝƩĞĞ the Company.

dŚĞŽĂƌĚŚĂƐ͕ŝŶŝƚƐŵĞĞƟŶŐŚĞůĚŽŶϵƚŚEŽǀĞŵďĞƌ͕ ϲ͘ ZĞĐŽŵŵĞŶĚ ƚŚĞ ĂŵŽƵŶƚ ŽĨ ĞdžƉĞŶĚŝƚƵƌĞ ƚŽ ďĞ ϮϬϭϮ͕ĐŽŶƐƟƚƵƚĞĚ,ĞĂůƚŚ͕^ĂĨĞƚLJ͕^ZĂŶĚŶǀŝƌŽŶŵĞŶƚ ŝŶĐƵƌƌĞĚŽŶƚŚĞ^ZĂĐƟǀŝƟĞƐ͘ ŽŵŵŝƩĞĞ͘ dŚĞ ŽŵŵŝƩĞĞ ƉĞƌĨŽƌŵƐ ƚŚĞ ĨŽůůŽǁŝŶŐ ĨƵŶĐƟŽŶƐ͗Ͳ ϳ͘ DŽŶŝƚŽƌ ƚŚĞ ŽƌƉŽƌĂƚĞ ^ŽĐŝĂů ZĞƐƉŽŶƐŝďŝůŝƚLJ ϭ͘ KǀĞƌƐĞĞ ƚŚĞ ŝŵƉůĞŵĞŶƚĂƟŽŶ ŽĨ ^ĂĨĞƚLJ ĂŶĚ Policy of the Company and ensure that the KĐĐƵƉĂƟŽŶĂů,ĞĂůƚŚWŽůŝĐLJ͕ŶǀŝƌŽŶŵĞŶƚWŽůŝĐLJ ĂĐƟǀŝƟĞƐĂƐĂƌĞŝŶĐůƵĚĞĚŝŶƚŚĞƐĂŝĚWŽůŝĐLJĂƌĞ ĂŶĚYƵĂůŝƚLJWŽůŝĐLJĂŶĚƚŚĞŝƌƌĞǀŝĞǁĨƌŽŵƟŵĞƚŽ ƵŶĚĞƌƚĂŬĞŶďLJƚŚĞŽŵƉĂŶLJ͘ ƟŵĞ͘ ϴ͘ dŽ ĚŽ ĨŽƌ ĂŶĚ ŽŶ ďĞŚĂůĨ ŽĨ ƚŚĞ ŽĂƌĚ Ăůů ĂĐƚƐ͕ Ϯ͘ DŽŶŝƚŽƌ ĂŶĚ ƌĞǀŝĞǁ ŽƉĞƌĂƟŽŶĂů ƉĞƌĨŽƌŵĂŶĐĞ͕ ĚĞĞĚƐ ĂŶĚ ƚŚŝŶŐƐ ǁŚŝĐŚ ŵĂLJ ďĞ ŶĞĐĞƐƐĂƌLJ ĨŽƌ ĂŶƟĐŝƉĂƚĞƉŽƚĞŶƟĂůŝƐƐƵĞƐĂŶĚƉƌŽǀŝĚĞƐƵƉƉŽƌƚ ĞīĞĐƟǀĞŝŵƉůĞŵĞŶƚĂƟŽŶŽĨƚŚĞĨŽƌĞŐŽŝŶŐĂĐƚƐ͘ ŝŶƐĞƫŶŐĚŝƌĞĐƟŽŶĨŽƌŝŵƉƌŽǀĞŵĞŶƚƐ͘  ŽŵƉŽƐŝƟŽŶ 3. Monitor and review compliance of various laws dŚĞ ,ĞĂůƚŚ͕ ^ĂĨĞƚLJ͕ ^Z ĂŶĚ ŶǀŝƌŽŶŵĞŶƚ ŽŵŵŝƩĞĞ ĂƉƉůŝĐĂďůĞ ĨŽƌ ŚĞĂůƚŚ͕ ƐĂĨĞƚLJ ĂŶĚ ĞŶǀŝƌŽŶŵĞŶƚ comprises of Shri Arun Kumar, an Independent Director ƉƌŽƚĞĐƟŽŶ Ăƚ Ăůů ǁŽƌŬƐ ͬ ĨĂĐƚŽƌŝĞƐ ͬ ƉůĂŶƚƐ ͬ ĂƐŚĂŝƌŵĂŶ͕^Śƌŝ,ĂƌĚŝƉ^ŝŶŐŚtŝƌŬ͕^ŚƌŝZĂǀŝhƉƉĂů͕ projects of the Company and recommend Shri Anand Goel and Shri Dinesh Kumar Saraogi as measures for improvement of the same. ŝƚƐ ŵĞŵďĞƌƐ͘ dŚĞ ^ĞŶŝŽƌ KĸĐĞƌƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ϰ͘ DŽŶŝƚŽƌ ĂŶĚ ƌĞǀŝĞǁ ĐŽŵƉůŝĂŶĐĞ ŽĨ ĐŽŶĚŝƟŽŶƐ ĂƌĞŝŶǀŝƚĞĚƚŽŝƚƐŵĞĞƟŶŐƐƚŽďƌŝĞĨƚŚĞŵĞŵďĞƌƐĂŶĚ under various approvals and clearances in ƉƌĞƐĞŶƚ ƌĞƉŽƌƚƐ ŽŶ ƚŚĞ ŝƚĞŵƐ ďĞŝŶŐ ĚŝƐĐƵƐƐĞĚ Ăƚ ƚŚĞ ƌĞůĂƟŽŶƚŽǁŽƌŬƐͬĨĂĐƚŽƌŝĞƐͬƉůĂŶƚƐͬƉƌŽũĞĐƚƐŽĨ ŵĞĞƟŶŐ͘ the Company.  DĞĞƟŶŐƐĂŶĚƩĞŶĚĂŶĐĞ ϱ͘ &ŽƌŵƵůĂƚĞ ĂŶĚ ƌĞĐŽŵŵĞŶĚ ƚŽ ƚŚĞ ŽĂƌĚ͕ Ă ƵƌŝŶŐ ƚŚĞ LJĞĂƌ ƵŶĚĞƌ ƌĞƉŽƌƚ͕ ŽŶĞ ŵĞĞƟŶŐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚĞ ^ŽĐŝĂů ZĞƐƉŽŶƐŝďŝůŝƚLJ WŽůŝĐLJ ǁŚŝĐŚ ŽŵŵŝƩĞĞǁĂƐŚĞůĚŽŶϮŶĚ&ĞďƌƵĂƌLJ͕ϮϬϭϯ͘

 ĞƚĂŝůƐŽĨŵĞĞƟŶŐƐĂƩĞŶĚĞĚďLJƚŚĞŵĞŵďĞƌƐĂƌĞŐŝǀĞŶďĞůŽǁ͗

^ƌ͘ ŽŵŵŝƩĞĞDĞŵďĞƌƐ WŽƐŝƟŽŶ DĞĞƟŶŐƐ,ĞůĚ DĞĞƟŶŐƐƩĞŶĚĞĚ EŽ͘ 1 Shri Arun Kumar Chairman 1 1 2 ^Śƌŝ,ĂƌĚŝƉ^ŝŶŐŚtŝƌŬ DĞŵďĞƌ 11 3 Shri Ravi Uppal DĞŵďĞƌ 11 4 Shri Anand Goel DĞŵďĞƌ 11 5 Shri Dinesh Kumar Saraogi DĞŵďĞƌ 10

100 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Governance Report

ǀͿ 'ŽǀĞƌŶĂŶĐĞĂŶĚƵƐŝŶĞƐƐƚŚŝĐƐŽŵŵŝƩĞĞ ŝŝŝ͘ KďƐĞƌǀĂŶĐĞ ŽĨ ƚŚĞ ďĞƐƚ ƉƌĂĐƟĐĞƐ ŽĨ ŽƌƉŽƌĂƚĞ  dŚĞŽĂƌĚŚĂƐ͕ŝŶŝƚƐŵĞĞƟŶŐŚĞůĚŽŶϵƚŚEŽǀĞŵďĞƌ͕ Governance at all levels and suggests remedial ϮϬϭϮ͕ĐŽŶƐƟƚƵƚĞĚƚŚĞ'ŽǀĞƌŶĂŶĐĞĂŶĚƵƐŝŶĞƐƐƚŚŝĐƐ measures, wherever necessary. ŽŵŵŝŝƩĞĞ͘ dŚĞ ĐŽŵŵŝƩĞĞ ƉĞƌĨŽƌŵƐ ƚŚĞ ĨŽůůŽǁŝŶŐ ŝǀ͘ dŽ ĚŽ ĨŽƌ ĂŶĚ ŽŶ ďĞŚĂůĨ ŽĨ ƚŚĞ ŽĂƌĚ Ăůů ĂĐƚƐ͕ ĨƵŶĐƟŽŶƐ͗Ͳ ĚĞĞĚƐ ĂŶĚ ƚŚŝŶŐƐ ǁŚŝĐŚ ŵĂLJ ďĞ ŶĞĐĞƐƐĂƌLJ ĨŽƌ ŝ͘ KǀĞƌƐĞĞƚŚĞŝŵƉůĞŵĞŶƚĂƟŽŶŽĨƚŚĞĨŽůůŽǁŝŶŐ ĞīĞĐƟǀĞŝŵƉůĞŵĞŶƚĂƟŽŶŽĨƚŚĞĨŽƌĞŐŽŝŶŐĂĐƚƐ͘ ŽĚĞƐͬƉŽůŝĐŝĞƐŽĨƚŚĞŽŵƉĂŶLJ͗Ͳ ŽŵƉŽƐŝƟŽŶ Company’s Code of Internal Procedures  dŚĞ 'ŽǀĞƌŶĂŶĐĞ ĂŶĚ ƵƐŝŶĞƐƐ ƚŚŝĐƐ ŽŵŵŝƩĞĞ ĂŶĚŽŶĚƵĐƚĨŽƌWƌĞǀĞŶƟŽŶŽĨ/ŶƐŝĚĞƌ comprises of Shri Sudershan Kumar Garg, Independent Trading Director as Chairman, Shri Anand Goel and Shri Sushil  ŽĚĞŽĨŽƌƉŽƌĂƚĞŝƐĐůŽƐƵƌĞWƌĂĐƟĐĞƐĨŽƌ DĂƌŽŽ͕ ĂƐ ŵĞŵďĞƌƐ͘ dŚĞ ^ĞŶŝŽƌ KĸĐĞƌƐ ŽĨ ƚŚĞ WƌĞǀĞŶƟŽŶŽĨ/ŶƐŝĚĞƌdƌĂĚŝŶŐ͘ ŽŵƉĂŶLJ ĂƌĞ ŝŶǀŝƚĞĚ ƚŽ ƚŚĞ ĐŽŵŵŝƩĞĞ ŵĞĞƟŶŐƐ ƚŽ ďƌŝĞĨƚŚĞŵĞŵďĞƌƐĂŶĚƉƌĞƐĞŶƚƌĞƉŽƌƚƐŽŶƚŚĞŵĂƩĞƌƐ Code of Conduct for Directors and senior ďĞŝŶŐĚŝƐĐƵƐƐĞĚĂƚƚŚĞŵĞĞƟŶŐ͘ management personnel  'ƌŽƵƉŽĚĞŽĨƵƐŝŶĞƐƐŽŶĚƵĐƚ  DĞĞƟŶŐƐĂŶĚƩĞŶĚĂŶĐĞ  ƵƌŝŶŐ ƚŚĞ LJĞĂƌ ƵŶĚĞƌ ƌĞƉŽƌƚ͕ ŽŶĞ ŵĞĞƟŶŐ ŽĨ ƚŚĞ  ŶLJ ŽƚŚĞƌ ŽĚĞ ͬ ƉŽůŝĐLJ ĂƐ ŵĂLJ ďĞ ŽŵŵŝƩĞĞǁĂƐŚĞůĚŽŶϭϭƚŚ&ĞďƌƵĂƌLJ͕ϮϬϭϯ͘ ĂƉƉůŝĐĂďůĞĨƌŽŵƟŵĞƚŽƟŵĞ͘ ŝŝ͘ ĞĐŝĚĞŽŶƚŚĞǀŝŽůĂƟŽŶŽĨƚŚĞŽĚĞƐͬƉŽůŝĐŝĞƐďLJ ĂŶLJĞŵƉůŽLJĞĞͬŝƌĞĐƚŽƌĂŶĚŝŵƉŽƐŝƟŽŶŽĨĮŶĞͬ ƉĞŶĂůƚLJĂŶĚƚĂŬŝŶŐĚŝƐĐŝƉůŝŶĂƌLJĂĐƟŽŶ͘

 ĞƚĂŝůƐŽĨŵĞĞƟŶŐĂƩĞŶĚĞĚďLJƚŚĞŵĞŵďĞƌƐĂƌĞŐŝǀĞŶďĞůŽǁ͗

^ƌ͘ ŽŵŵŝƩĞĞDĞŵďĞƌƐ WŽƐŝƟŽŶ DĞĞƟŶŐƐ,ĞůĚ DĞĞƟŶŐƐƩĞŶĚĞĚ EŽ͘ 1 Shri Sudershan Kumar Garg Chairman 1 1 2 Shri Anand Goel DĞŵďĞƌ 11 3 Shri Sushil Maroo DĞŵďĞƌ 11

ǀŝͿ ^ƵďͲŽŵŵŝƩĞĞŽĨŝƌĞĐƚŽƌƐ dŚĞŽĂƌĚŚĂƐĚĞůĞŐĂƚĞĚƐƉĞĐŝĮĐƉŽǁĞƌƐƚŽƚŚĞ^ƵďͲŽŵŵŝƩĞĞŽĨŝƌĞĐƚŽƌƐ͕ĨƌŽŵƟŵĞƚŽƟŵĞ͕ĨŽƌƚĂŬŝŶŐĚĞĐŝƐŝŽŶƐŝŶ ĐŽŶŶĞĐƟŽŶǁŝƚŚĚĂLJƚŽĚĂLJĂīĂŝƌƐŽĨƚŚĞŽŵƉĂŶLJ͘  ŽŵƉŽƐŝƟŽŶ  dŚĞ^ƵďͲŽŵŵŝƩĞĞŽĨŝƌĞĐƚŽƌƐĐŽŵƉƌŝƐĞƐŽĨ^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂů͕^ŚƌŝŶĂŶĚ'ŽĞůĂŶĚ^Śƌŝ^ƵƐŚŝůDĂƌŽŽ͘ŽŶƐĞƋƵĞŶƚƚŽ ƌĞƐŝŐŶĂƟŽŶŽĨ^ŚƌŝsŝŬƌĂŶƚ'ƵũƌĂůĨƌŽŵƚŚĞĚŝƌĞĐƚŽƌƐŚŝƉŽĨƚŚĞŽŵƉĂŶLJ͕ŚĞĐĞĂƐĞĚƚŽďĞƚŚĞŵĞŵďĞƌŽĨƚŚŝƐŽŵŵŝƩĞĞ͘

 DĞĞƟŶŐƐĂŶĚƩĞŶĚĂŶĐĞ  ƵƌŝŶŐƚŚĞLJĞĂƌƵŶĚĞƌƌĞƉŽƌƚ͕ƚŚĞŽŵŵŝƩĞĞŵĞƚdŚŝƌƚLJdǁŽ;ϯϮͿƟŵĞƐ͘  ĞƚĂŝůƐŽĨŵĞĞƟŶŐĂƩĞŶĚĞĚďLJƚŚĞŵĞŵďĞƌƐĂƌĞŐŝǀĞŶďĞůŽǁ͗Ͳ

^ƌ͘ ŽŵŵŝƩĞĞDĞŵďĞƌƐ WŽƐŝƟŽŶ DĞĞƟŶŐƐ,ĞůĚ DĞĞƟŶŐƐƩĞŶĚĞĚ EŽ͘ 1 ^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂů Chairman 32 3 2 Shri Anand Goel DĞŵďĞƌ 32 28 3 Shri Sushil Maroo DĞŵďĞƌ 32 31 4 ^ŚƌŝsŝŬƌĂŶƚ'ƵũƌĂůΎ DĞŵďĞƌ 18 14

 ΎĐĞĂƐĞĚƚŽďĞŵĞŵďĞƌǁ͘Ğ͘ĨϵƚŚEŽǀĞŵďĞƌ͕ϮϬϭϮ

101 Annual Report 2012-13 ǀŝŝͿ ŽŵƉĞŶƐĂƟŽŶŽŵŵŝƩĞĞ;^ƚŽĐŬKƉƟŽŶƐͿ ŝŶǀĞƐƚŵĞŶƚƐ ŵĂĚĞ ďLJ ƚŚĞ ƵŶůŝƐƚĞĚ ƐƵďƐŝĚŝĂƌLJ ĐŽŵƉĂŶŝĞƐ͘  ^Śƌŝ Z͘s͘ ^ŚĂŚŝ ĂŶĚ ^Śƌŝ ^ƵƐŚŝů DĂƌŽŽ ĂƌĞ ŵĞŵďĞƌƐ dŚĞŵŝŶƵƚĞƐŽĨŽĂƌĚŵĞĞƟŶŐƐŽĨƚŚĞƵŶůŝƐƚĞĚƐƵďƐŝĚŝĂƌLJ ŽĨƚŚĞŽŵƉĞŶƐĂƟŽŶŽŵŵŝƩĞĞ͘EŽŵĞĞƟŶŐŽĨƚŚŝƐ ĐŽŵƉĂŶŝĞƐ ĂƌĞ ƉůĂĐĞĚ Ăƚ ƚŚĞ ŽĂƌĚ ŵĞĞƟŶŐƐ ĂůŽŶŐ ǁŝƚŚ ŽŵŵŝƩĞĞǁĂƐŚĞůĚĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϮͲ Ă ƐƚĂƚĞŵĞŶƚ ŽĨ ƐŝŐŶŝĮĐĂŶƚ ƚƌĂŶƐĂĐƟŽŶƐ ďLJ ƚŚĞ ƵŶůŝƐƚĞĚ ϭϯďĞĐĂƵƐĞŶŽƐƚŽĐŬŽƉƟŽŶƐǁĞƌĞŐƌĂŶƚĞĚĚƵƌŝŶŐƚŚĞ ƐƵďƐŝĚŝĂƌLJĐŽŵƉĂŶLJ͘ year under report. ϱΉ 'EZ>KzDd/E'^ ϰΉ ^h^//ZzKDWE/^  ŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐ Shri R. V. Shahi, Independent Director of the Company  dŚĞŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐƐŽĨƚŚĞŽŵƉĂŶLJĚƵƌŝŶŐƚŚĞ ŚĂƐďĞĞŶŶŽŵŝŶĂƚĞĚďLJƚŚĞŽŵƉĂŶLJĂƐĂŶ/ŶĚĞƉĞŶĚĞŶƚ ƉƌĞĐĞĚŝŶŐƚŚƌĞĞLJĞĂƌƐǁĞƌĞŚĞůĚĂƚƌĞŐŝƐƚĞƌĞĚŽĸĐĞŽĨƚŚĞ ŝƌĞĐƚŽƌŽŶƚŚĞŽĂƌĚŽĨ:ŝŶĚĂůWŽǁĞƌ>ŝŵŝƚĞĚŝŶĐŽŵƉůŝĂŶĐĞ ŽŵƉĂŶLJĂƚK͘W͘:ŝŶĚĂůDĂƌŐ͕,ŝƐĂƌʹϭϮϱϬϬϱ͕,ĂƌLJĂŶĂŽŶ ǁŝƚŚ ƚŚĞ ůĂƵƐĞ ϰϵ;///Ϳ;ŝͿ ŽĨ ƚŚĞ ůŝƐƟŶŐ ĂŐƌĞĞŵĞŶƚ͘ dŚĞ ƚŚĞĨŽůůŽǁŝŶŐĚĂƚĞƐĂŶĚƟŵĞƐ͕ǁŚĞƌĞŝŶƚŚĞĨŽůůŽǁŝŶŐƐƉĞĐŝĂů ƵĚŝƚ ŽŵŵŝƩĞĞ ƌĞǀŝĞǁƐ ƚŚĞ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ ĂŶĚ ƌĞƐŽůƵƟŽŶƐǁĞƌĞƉĂƐƐĞĚ͗Ͳ

AGM zĞĂƌ ĂƚĞ͕ĂLJΘdŝŵĞ ƌŝĞĨĞƐĐƌŝƉƟŽŶŽĨ^ƉĞĐŝĂůZĞƐŽůƵƟŽŶ 33rd 2011-12 ϮϲƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϮtĞĚŶĞƐĚĂLJ͕ϭϮ͘ϬϬEŽŽŶ EŽ^ƉĞĐŝĂůƌĞƐŽůƵƟŽŶǁĂƐƉĂƐƐĞĚŝŶƚŚĞ ŶŶƵĂůŐĞŶĞƌĂůDĞĞƟŶŐ 32nd 2010-11 ϮϵƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϭdŚƵƌƐĚĂLJ͕ϭϮ͘ϬϬEŽŽŶ ZĞͲĂƉƉŽŝŶƚŵĞŶƚŽĨ^ŚƌŝsŝŬƌĂŶƚ'ƵũƌĂůĂƐ tŚŽůĞƟŵĞŝƌĞĐƚŽƌŽĨƚŚĞŽŵƉĂŶLJŝŶ ƚŚĞĚĞƐŝŐŶĂƟŽŶŽĨ'ƌŽƵƉsŝĐĞŚĂŝƌŵĂŶ ĂŶĚ,ĞĂĚ'ůŽďĂůsĞŶƚƵƌĞƐ͘ 31st 2009-10 ϮϴƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϬdƵĞƐĚĂLJ͕ϭϮ͘ϬϬEŽŽŶ ZĞǀŝƐŝŽŶ͕ƉƵƌƐƵĂŶƚƚŽ^ĞĐƟŽŶϯϭϰŽĨ ƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲĂŶĚƐƵďũĞĐƚ to approval of Central Government, of salary of Shri Paras Goel, as Assistant 'ĞŶĞƌĂůDĂŶĂŐĞƌʹ^ĂůĞƐΘDĂƌŬĞƟŶŐ͘

102 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Governance Report

 WŽƐƚĂůĂůůŽƚ DͬƐ͘sŝƐŚĂůƌŽƌĂΘƐƐŽĐŝĂƚĞƐ͕ŽŵƉĂŶLJ^ĞĐƌĞƚĂƌŝĞƐ͕EĞǁ During the year under report, the Company did not pass ĞůŚŝĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚŽŶϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ĂŶLJƌĞƐŽůƵƟŽŶƚŚƌŽƵŐŚƉŽƐƚĂůďĂůůŽƚ͘ ϳΉ DE^K&KDDhE/d/KE ϲΉ /^>K^hZ^  /ŶĨŽƌŵĂƟŽŶ ůŝŬĞ ƋƵĂƌƚĞƌůLJ ͬ ŚĂůĨ LJĞĂƌůLJ ͬ ĂŶŶƵĂů ĮŶĂŶĐŝĂů i) The required statements/disclosures with respect to ƌĞƐƵůƚƐ ĂŶĚ ƉƌĞƐƐ ƌĞůĞĂƐĞƐ ŽŶ ƐŝŐŶŝĮĐĂŶƚ ĚĞǀĞůŽƉŵĞŶƚƐ ŝŶ ƚŚĞƌĞůĂƚĞĚƉĂƌƚLJƚƌĂŶƐĂĐƟŽŶƐĂƌĞƉůĂĐĞĚďĞĨŽƌĞƚŚĞ ƚŚĞŽŵƉĂŶLJƚŚĂƚŚĂǀĞďĞĞŶŵĂĚĞĂǀĂŝůĂďůĞĨƌŽŵƟŵĞƚŽ ƵĚŝƚ ŽŵŵŝƩĞĞ ĂƐ ǁĞůů ĂƐ ƚŚĞ ŽĂƌĚ ŽĨ ŝƌĞĐƚŽƌƐ ƟŵĞ͕ƚŽƚŚĞƉƌĞƐƐĂŶĚƉƌĞƐĞŶƚĂƟŽŶƐŵĂĚĞƚŽŝŶƐƟƚƵƟŽŶĂů investors or to the analysts are hosted on the Company’s ŽŶ ƋƵĂƌƚĞƌůLJ ďĂƐŝƐ ŝŶ ƚĞƌŵƐ ŽĨ ĐůĂƵƐĞ ϰϵ;/sͿ;Ϳ ŽĨ ǁĞďƐŝƚĞ ǁǁǁ͘ũŝŶĚĂůƐƚĞĞůƉŽǁĞƌ͘ĐŽŵ ĂŶĚ ŚĂǀĞ ĂůƐŽ ďĞĞŶ ƚŚĞ ůŝƐƟŶŐ ĂŐƌĞĞŵĞŶƚ ĂŶĚ ŽƚŚĞƌ ĂƉƉůŝĐĂďůĞ ůĂǁƐ ĨŽƌ ƐƵďŵŝƩĞĚƚŽƚŚĞ^ƚŽĐŬdžĐŚĂŶŐĞƐƚŽĞŶĂďůĞƚŚĞŵƚŽƉƵƚ ĂƉƉƌŽǀĂůͬŝŶĨŽƌŵĂƟŽŶ͘ ƚŚĞŵŽŶƚŚĞŝƌǁĞďƐŝƚĞƐĂŶĚĐŽŵŵƵŶŝĐĂƚĞƚŽƚŚĞŝƌŵĞŵďĞƌƐ͘ ii) The Company has complied with the requirements dŚĞ ƋƵĂƌƚĞƌůLJ ͬ ŚĂůĨͲLJĞĂƌůLJ ͬ ĂŶŶƵĂů ĮŶĂŶĐŝĂů ƌĞƐƵůƚƐ ĂƌĞ ŽĨ ƚŚĞ ^ƚŽĐŬ džĐŚĂŶŐĞƐ͕ ^/ ĂŶĚ ŽƚŚĞƌ ƐƚĂƚƵƚŽƌLJ ƉƵďůŝƐŚĞĚ ŝŶ ŶŐůŝƐŚ ĂŶĚ ,ŝŶĚŝ ůĂŶŐƵĂŐĞ ŶĞǁƐƉĂƉĞƌƐ͘ ĂƵƚŚŽƌŝƟĞƐŽŶĂůůŵĂƩĞƌƐƌĞůĂƟŶŐƚŽĐĂƉŝƚĂůŵĂƌŬĞƚƐ Moreover, a report on Management Discussion and Analysis ĚƵƌŝŶŐƚŚĞůĂƐƚƚŚƌĞĞLJĞĂƌƐ͘EŽƉĞŶĂůƟĞƐŽƌƐƚƌŝĐƚƵƌĞƐ ŚĂƐ ďĞĞŶ ŐŝǀĞŶ ĞůƐĞǁŚĞƌĞ ŝŶ ƚŚŝƐ ƌĞƉŽƌƚ͘ dŚĞ ŽŵƉĂŶLJ ŚĂǀĞ ďĞĞŶ ŝŵƉŽƐĞĚ ŽŶ ƚŚĞ ŽŵƉĂŶLJ ďLJ ƚŚĞ ^ƚŽĐŬ ŝƐ ĞůĞĐƚƌŽŶŝĐĂůůLJ ĮůŝŶŐ Ăůů ƌĞƉŽƌƚƐ ͬ ŝŶĨŽƌŵĂƟŽŶ ŝŶĐůƵĚŝŶŐ džĐŚĂŶŐĞƐ͕^/ŽƌŽƚŚĞƌƐƚĂƚƵƚŽƌLJĂƵƚŚŽƌŝƟĞƐƌĞůĂƟŶŐ ^ŚĂƌĞŚŽůĚŝŶŐ WĂƩĞƌŶ ĂŶĚ ŽƌƉŽƌĂƚĞ 'ŽǀĞƌŶĂŶĐĞ ZĞƉŽƌƚ ƚŽƚŚĞĂďŽǀĞ͘ ĞƚĐŽŶƚŚĞ^ǁĞďƐŝƚĞǁǁǁ͘ůŝƐƟŶŐ͘ďƐĞŝŶĚŝĂ͘ĐŽŵĂŶĚE^ ǁĞďƐŝƚĞŝ͘Ğ͘ǁǁǁ͘ĐŽŶŶĞĐƚϮŶƐĞ͘ĐŽŵ͘ ŝŝŝͿ dŚĞ ŽŵƉĂŶLJ ŚĂƐ ĂĚŽƉƚĞĚ Ă tŚŝƐƚůĞ ůŽǁĞƌ WŽůŝĐLJ ĨŽƌ ĞŵƉůŽLJĞĞƐ ƚŽ ƌĞƉŽƌƚ ĐŽŶĐĞƌŶƐ ĂďŽƵƚ ƵŶĞƚŚŝĐĂů ϴΉ 'EZ>^,Z,K>Z^/E&KZDd/KE ďĞŚĂǀŝŽƌ͘ ĂͿ &ŝŶĂŶĐŝĂůĂůĞŶĚĂƌϮϬϭϯͲϭϰ iv) The Company has complied with all the mandatory First Quarter Results Upto 14th August, 2013 ƌĞƋƵŝƌĞŵĞŶƚƐŽĨŽƌƉŽƌĂƚĞ'ŽǀĞƌŶĂŶĐĞĂƐƉƌĞƐĐƌŝďĞĚ Second Quarter Results hƉƚŽϭϰƚŚEŽǀĞŵďĞƌ͕ ƵŶĚĞƌ ƚŚĞ ůŝƐƟŶŐ ĂŐƌĞĞŵĞŶƚ͘ dŚĞ ŽŵƉĂŶLJ ŚĂƐ 2013 ĨƵůĮůůĞĚ ƚŚĞ ĨŽůůŽǁŝŶŐ ŶŽŶͲŵĂŶĚĂƚŽƌLJ ƌĞƋƵŝƌĞŵĞŶƚƐ ĂƐƉƌĞƐĐƌŝďĞĚŝŶůĂƵƐĞϰϵŽĨƚŚĞ>ŝƐƟŶŐŐƌĞĞŵĞŶƚ͗ Third Quarter Results hƉƚŽϭϰƚŚ&ĞďƌƵĂƌLJ͕ 2014 ZĞŵƵŶĞƌĂƟŽŶŽŵŵŝƩĞĞ Fourth Quarter Results Upto 15th May, 2014  dŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐŚĂƐĐŽŶƐƟƚƵƚĞĚĂEŽŵŝŶĂƟŽŶĂŶĚ ůƚĞƌŶĂƟǀĞůLJ͕ ZĞŵƵŶĞƌĂƟŽŶ ŽŵŵŝƩĞĞ͘ &Žƌ ĚĞƚĂŝůƐ͕ ƉůĞĂƐĞ ƐĞĞ ƚŚĞ Annual Results for the OŶŽƌďĞĨŽƌĞϯϬƚŚDĂLJ͕ ƐĞĐƟŽŶŽŶŽŵŵŝƩĞĞƐŽĨƚŚĞŽĂƌĚŝŶƚŚŝƐƌĞƉŽƌƚ͘ year ending on 2014  /ŶĨŽƌŵĂƟŽŶƚŽŽĂƌĚDĞŵďĞƌƐ 31st March, 2014  dŚĞ ŽĂƌĚ ŽĨ ŝƌĞĐƚŽƌƐ ŝƐ ƉƌŽǀŝĚĞĚ ǁŝƚŚ ƚŚĞ ŶĞĐĞƐƐĂƌLJ ƌĞƉŽƌƚƐ͕ ĚŽĐƵŵĞŶƚƐ ĂŶĚ ŝŶƚĞƌŶĂů ƉŽůŝĐŝĞƐ ƚŽ ĞŶĂďůĞ ďͿ ŝǀŝĚĞŶĚĂŶĚŝƚƐWĂLJŵĞŶƚ them to familiarise with the Company’s procedures and A dividend of ` 1.60 per equity share of ` 1/- each ƉƌĂĐƟĐĞƐ͘ WĞƌŝŽĚŝĐ ƉƌĞƐĞŶƚĂƟŽŶƐ ĂƌĞ ŵĂĚĞ Ăƚ ƚŚĞ ŽĂƌĚ ŚĂƐ ďĞĞŶ ƌĞĐŽŵŵĞŶĚĞĚ ďLJ ƚŚĞ ŽĂƌĚ ŽĨ ŝƌĞĐƚŽƌƐ ĂŶĚ ŽŵŵŝƩĞĞ DĞĞƟŶŐƐ ŽŶ ďƵƐŝŶĞƐƐ ĂŶĚ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ƚŚĞ ŽŵƉĂŶLJ͘ dŚĞ ĂŵŽƵŶƚ ŽĨ ĚŝǀŝĚĞŶĚ ǁŝůů ďĞ ƵƉĚĂƚĞƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ͕ ŐůŽďĂů ďƵƐŝŶĞƐƐ ĞŶǀŝƌŽŶŵĞŶƚ͕ ĚĞƉŽƐŝƚĞĚǁŝƚŚƚŚĞďĂŶŬǁŝƚŚŝŶϱĚĂLJƐŽĨĂƉƉƌŽǀĂůďLJ ďƵƐŝŶĞƐƐ ƐƚƌĂƚĞŐLJ ĂŶĚ ƌŝƐŬƐ ŝŶǀŽůǀĞĚ͘ dŚĞ ŝƌĞĐƚŽƌƐ ĂƌĞ the shareholders in the forthcoming Annual General ƉƌŽǀŝĚĞĚǁŝƚŚƌĞůĞǀĂŶƚƐƚĂƚƵƚŽƌLJĐŚĂŶŐĞƐŝŶ^/dĂŬĞŽǀĞƌ DĞĞƟŶŐĂŶĚŝƚƐƉĂLJŵĞŶƚǁŝůůďĞŵĂĚĞǁŝƚŚŝŶϯϬĚĂLJƐ ZĞŐƵůĂƟŽŶƐĂŶĚ/ŶƐŝĚĞƌdƌĂĚŝŶŐZĞŐƵůĂƟŽŶƐĞƚĐ͘ ĨƌŽŵŝƚƐĚĞĐůĂƌĂƟŽŶ͘  tŚŝƐƚůĞůŽǁĞƌWŽůŝĐLJ ĐͿ >ŝƐƟŶŐŽĨ^ŚĂƌĞƐŽŶ^ƚŽĐŬdžĐŚĂŶŐĞƐĂŶĚ^ƚŽĐŬ  dŚĞŽŵƉĂŶLJŚĂƐůĂŝĚĚŽǁŶĂƵƐŝŶĞƐƐŽĚĞŽĨŽŶĚƵĐƚ ŽĚĞ ĂƐǁĞůůĂƐtŚŝƐƚůĞůŽǁĞƌWŽůŝĐLJĨŽƌĂůůŝƚƐĞŵƉůŽLJĞĞƐ͘dŚĞ Code lays down that the employees shall promptly report ^ů͘EŽ͘ EĂŵĞŽĨƚŚĞ^ƚŽĐŬ ^ƚŽĐŬŽĚĞ džĐŚĂŶŐĞ ĂŶLJĐŽŶĐĞƌŶŽƌďƌĞĂĐŚĂŶĚŶŽƚƚŽŚĞƐŝƚĂƚĞŝŶƌĞƉŽƌƟŶŐĂ ǀŝŽůĂƟŽŶŽƌƌĂŝƐŝŶŐĂƉŽůŝĐLJĐŽŶĐĞƌŶƚŽĐŽŶĐĞƌŶĞĚƐƵƉĞƌŝŽƌ͘ 1 ^>ŝŵŝƚĞĚ 532286 The Policy provides that the Company shall support and 2 EĂƟŽŶĂů^ƚŽĐŬ :/E>^d>͘Y protect the employees for doing so. džĐŚĂŶŐĞŽĨ/ŶĚŝĂ Limited  ^ĞĐƌĞƚĂƌŝĂůƵĚŝƚ  dŚĞ ŽŵƉĂŶLJ ŚĂƐ ǀŽůƵŶƚĂƌŝůLJ ƵŶĚĞƌƚĂŬĞŶ Ă ƐĞĐƌĞƚĂƌŝĂů  ŶŶƵĂůůŝƐƟŶŐĨĞĞĨŽƌƚŚĞLJĞĂƌϮϬϭϯͲϭϰŚĂƐďĞĞŶƉĂŝĚ ĂƵĚŝƚĨƌŽŵĂŶŝŶĚĞƉĞŶĚĞŶƚƉƌĂĐƟĐŝŶŐĐŽŵƉĂŶLJƐĞĐƌĞƚĂƌLJ͕ ďLJƚŚĞŽŵƉĂŶLJƚŽ^ĂŶĚE^͘

103 Annual Report 2012-13 ĚͿ >ŝƐƟŶŐŽĨĞďƚ/ŶƐƚƌƵŵĞŶƚƐŽŶ^ƚŽĐŬdžĐŚĂŶŐĞƐĂŶĚŽĚĞƐ  dŚĞĨŽůůŽǁŝŶŐEŽŶͲŽŶǀĞƌƟďůĞĞďĞŶƚƵƌĞƐŚĂǀĞďĞĞŶůŝƐƚĞĚŽŶƚŚĞ^>ŝŵŝƚĞĚ͗

WĂƌƟĐƵůĂƌƐ ISIN ^ƚŽĐŬŽĚĞ ϵ͘ϴϬйͲEƐŽĨ&ĂĐĞǀĂůƵĞŽĨ` 10 lacs /EϳϰϵϬϳϭϱϭ 946489 ϵ͘ϴϬйͲEƐŽĨ&ĂĐĞǀĂůƵĞŽĨ` 10 lacs /EϳϰϵϬϳϭϲϵ 946490 ϵ͘ϴϬйͲEƐŽĨ&ĂĐĞǀĂůƵĞŽĨ` 10 lacs /EϳϰϵϬϳϭϳϳ 946486 ϵ͘ϴϬйͲEƐŽĨ&ĂĐĞǀĂůƵĞŽĨ` 10 lacs /EϳϰϵϬϳϮϬϭ 946487 ϵ͘ϴϬйͲEƐŽĨ&ĂĐĞǀĂůƵĞŽĨ` 10 lacs /EϳϰϵϬϳϮϮϳ 946488 ϵ͘ϴϬйͲEƐŽĨ&ĂĐĞǀĂůƵĞŽĨ` 10 lacs /EϳϰϵϬϳϮϱϬ 946491 ϵ͘ϴϬйͲEƐŽĨ&ĂĐĞǀĂůƵĞŽĨ` 10 lacs /EϳϰϵϬϳϭϴϱ 946506 ϵ͘ϴϬйͲEƐŽĨ&ĂĐĞǀĂůƵĞŽĨ` 10 lacs /EϳϰϵϬϳϭϵϯ 946509 ϵ͘ϴϬйͲEƐŽĨ&ĂĐĞǀĂůƵĞŽĨ` 10 lacs /EϳϰϵϬϳϮϭϵ 946514 ϵ͘ϴϬйͲEƐŽĨ&ĂĐĞǀĂůƵĞŽĨ` 10 lacs /EϳϰϵϬϳϮϲϴ 946517 ϵ͘ϴϬйͲEƐŽĨ&ĂĐĞǀĂůƵĞŽĨ` 10 lacs /EϳϰϵϬϳϮϴϰ 946518 ϵ͘ϴϬйͲEƐŽĨ&ĂĐĞǀĂůƵĞŽĨ` 10 lacs /EϳϰϵϬϳϯϬϬ 946638 ϵ͘ϴϬйͲEƐŽĨ&ĂĐĞǀĂůƵĞŽĨ` 10 lacs /EϳϰϵϬϳϯϭϴ 946639 ϴ͘ϱϬйͲEƐŽĨ&ĂĐĞǀĂůƵĞŽĨ` 10 lacs /EϳϰϵϬϳϮϯϱ 946613 ϴ͘ϱϬйͲEƐŽĨ&ĂĐĞǀĂůƵĞŽĨ` 10 lacs /EϳϰϵϬϳϮϰϯ 946614 ϵ͘ϴϬйͲEƐŽĨ&ĂĐĞǀĂůƵĞŽĨ` 10 lacs /EϳϰϵϬϳϮϳϲ 946672 ϵ͘ϲϯйͲEƐŽĨ&ĂĐĞǀĂůƵĞŽĨ` 10 lacs /EϳϰϵϬϴϭϭϴ 949098

ĞͿ DĂƌŬĞƚWƌŝĐĞĂƚĂʹ^

^ĞŶƐĞdž :^W>^ŚĂƌĞWƌŝĐĞ DŽŶƚŚ ,ŝŐŚ >Žǁ ,ŝŐŚWƌŝĐĞ >ŽǁWƌŝĐĞ sŽůƵŵĞ April-12 17,664.10 17,010.16 553.80 472.00 34,40,766 May-12 17,432.33 15,809.71 514.55 438.55 32,70,003 June-12 17,448.48 15,748.98 473.00 410.15 45,17,972 July-12 17,631.19 16,598.48 480.00 390.05 53,26,009 August-12 17,972.54 17,026.97 426.00 343.00 50,74,591 ^ĞƉƚĞŵďĞƌͲϭϮ 18,869.94 17,250.80 453.80 321.10 1,12,97,563 KĐƚŽďĞƌͲϭϮ 19,137.29 18,393.42 440.00 372.15 58,16,338 EŽǀĞŵďĞƌͲϭϮ 19,372.70 18,255.69 405.00 365.05 46,36,650 ĞĐĞŵďĞƌͲϭϮ 19,612.18 19,149.03 473.90 400.00 49,06,731 January-13 20,203.66 19,508.93 472.60 414.00 31,78,171 &ĞďƌƵĂƌLJͲϭϯ 19,966.69 18,793.97 425.95 339.00 29,94,197 March-13 19,754.66 18,568.43 369.95 334.45 38,80,375

dŚĞŽŵƉĂŶLJ͛ƐƐŚĂƌĞŝƐĂƉĂƌƚŽĨ^^ĞŶƐĞdž͘dŚĞƌĞĨŽƌĞ͕ĐŽŵƉĂƌŝƐŽŶŚĂƐďĞĞŶŵĂĚĞǁŝƚŚŝƚ͘ Comparison of Monthly High Shate Phare Price Performance on BSE with BSE Sensex Index

1000 12500000 1000 21000 ) ) ` 800 10000000 ` 800 20000 19000 600 7500000 600 18000 400 400 5000000 Volume 17000 200 2500000 200

JSPL Share Price ( Price JSPL Share ( Price JSPL Share 16000 ^^ĞŶƐĞdž/ŶĚĞdžsĂůƵĞ 0 0 0 15000 Jul - 12 Jul - 12 Jan - 13 Jan - 13 Jun - 12 Jun - 12 Oct - 12 Oct - 12 Apr - 12 Apr - 12 &ĞďͲϭϯ &ĞďͲϭϯ Sep - 12 Sep - 12 Dec - 12 Dec - 12 Aug - 12 Aug - 12 EŽǀͲϭϮ EŽǀͲϭϮ Mar - 13 Mar - 13 May - May 12 May - May 12 Month High Price Low Price Volume JSPL’s Share Price (`) ^^ĞŶƐĞdžŝŶĚĞdžsĂůƵĞ

104 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Governance Report

ĨͿ DĂƌŬĞƚWƌŝĐĞĂƚĂʹE^

^ΘWEyEŝŌLJϱϬ :^W>^ŚĂƌĞWƌŝĐĞ DŽŶƚŚ ,ŝŐŚ >Žǁ ,ŝŐŚ ůŽǁ sŽůƵŵĞ April-12 5,378.75 5,154.30 554.40 471.05 3,16,81,216 May-12 5,279.60 4,788.95 515.50 437.20 2,92,53,306 June-12 5,286.25 4,770.35 474.50 409.05 4,90,77,052 July-12 5,348.60 5,032.40 480.35 389.20 4,71,02,675 August-12 5,448.60 5,164.65 426.00 342.75 4,56,26,583 ^ĞƉƚĞŵďĞƌͲϭϮ 5,735.15 5,215.70 454.90 320.40 9,56,77,748 KĐƚŽďĞƌͲϭϮ 5,815.35 4,888.20 441.10 333.00 4,31,44,100 EŽǀĞŵďĞƌͲϭϮ 5,885.25 5,548.35 406.20 365.00 3,26,97,590 ĞĐĞŵďĞƌͲϭϮ 5,965.15 5,823.15 474.90 399.50 5,45,64,519 January-13 6,111.80 5,935.20 475.00 413.50 3,67,65,526 &ĞďƌƵĂƌLJͲϭϯ 6,052.95 5,671.90 426.50 338.90 4,32,54,847 March-13 5,971.20 5,604.85 369.95 334.50 4,39,16,621

 dŚĞŽŵƉĂŶLJ͛ƐƐŚĂƌĞŝƐĂƉĂƌƚŽĨ^ΘWEyEŝŌLJϱϬ͘dŚĞƌĞĨŽƌĞ͕ĐŽŵƉĂƌŝƐŽŶŚĂƐďĞĞŶŵĂĚĞǁŝƚŚŝƚ͘

Comparison of Monthly High Shate Phare with Performance on NSE S & P CNX Nifty 50

1000 120000000 1000 6500

800 100000000 800 6000 ) ) ` ` 80000000 600 600 5500 60000000 Volume 400 400 500 40000000 ^ΘWEyEŝŌLJϱϬ JSPL Share Price ( Price JSPL Share JSPL Share Price ( Price JSPL Share 200 20000000 200 4500

0 0 0 400 Jul - 12 Jul - 12 Jan - 13 Jun - 12 Jan - 13 Oct - 12 Apr - 12 Jun - 12 &ĞďͲϭϯ Sep - 12 Oct - 12 Apr - 12 Dec - 12 &ĞďͲϭϯ Sep - 12 Aug - 12 EŽǀͲϭϮ Dec - 12 Aug - 12 Mar - 13 EŽǀͲϭϮ May - May 12 Mar - 13 May - May 12 Month Month High Low Volume High Low

105 Annual Report 2012-13 ŐͿ ^ŚĂƌĞdƌĂŶƐĨĞƌŐĞŶƚ ŐƌĞĞŵĞŶƚĂŶĚĮůĞƐĂĐŽƉLJŽĨƚŚĞƐĂŝĚĐĞƌƟĮĐĂƚĞǁŝƚŚ  ůů ƚŚĞ ǁŽƌŬ ƌĞůĂƟŶŐ ƚŽ ƚŚĞ ƐŚĂƌĞ ƌĞŐŝƐƚƌLJ ĨŽƌ ƚŚĞ ƚŚĞ^ƚŽĐŬdžĐŚĂŶŐĞƐ͘ shares held in the physical form as well as the shares ŝͿ ZĞĐŽŶĐŝůŝĂƟŽŶŽĨ^ŚĂƌĞĂƉŝƚĂůƵĚŝƚ ŚĞůĚŝŶƚŚĞĞůĞĐƚƌŽŶŝĐ;ĚĞŵĂƚͿĨŽƌŵŝƐďĞŝŶŐĚŽŶĞĂƚ  dŚĞZĞĐŽŶĐŝůŝĂƟŽŶŽĨ^ŚĂƌĞĂƉŝƚĂůƵĚŝƚŝƐĐŽŶĚƵĐƚĞĚ ŽŶĞƐŝŶŐůĞƉŽŝŶƚĂŶĚĨŽƌƚŚŝƐƉƵƌƉŽƐĞ^/ƌĞŐŝƐƚĞƌĞĚ ďLJ Ă ŽŵƉĂŶLJ ^ĞĐƌĞƚĂƌLJ ŝŶ ƉƌĂĐƟĐĞ ƚŽ ƌĞĐŽŶĐŝůĞ ĐĂƚĞŐŽƌLJ / ZĞŐŝƐƚƌĂƌ ĂŶĚ dƌĂŶƐĨĞƌ ŐĞŶƚ ŚĂƐ ďĞĞŶ ƚŚĞ ƚŽƚĂů ĂĚŵŝƩĞĚ ĐĂƉŝƚĂů ǁŝƚŚ EĂƟŽŶĂů ^ĞĐƵƌŝƟĞƐ ĂƉƉŽŝŶƚĞĚ͕ǁŚŽƐĞĚĞƚĂŝůƐĂƌĞŐŝǀĞŶďĞůŽǁ͗ Depository Limited and Central Depository Services  ůĂŶŬŝƚƐƐŝŐŶŵĞŶƚƐ>ŝŵŝƚĞĚ ;/ŶĚŝĂͿ >ŝŵŝƚĞĚ ;͞ĞƉŽƐŝƚŽƌŝĞƐ͟Ϳ ĂŶĚ ƚŚĞ ƚŽƚĂů ŝƐƐƵĞĚ  ůĂŶŬŝƚ,ŽƵƐĞ͕ϮͬϮϭ ĂŶĚ ůŝƐƚĞĚ ĐĂƉŝƚĂů͘ dŚĞ ĂƵĚŝƚ ĐŽŶĮƌŵƐ ƚŚĂƚ ƚŚĞ ƚŽƚĂů  :ŚĂŶĚĞǁĂůĂdžƚĞŶƐŝŽŶ͕ issued/paid-up capital is in agreement with the  EĞǁĞůŚŝͲϭϭϬϬϱϱ ĂŐŐƌĞŐĂƚĞ ŽĨ ƚŚĞ ƚŽƚĂů ŶƵŵďĞƌ ŽĨ ƐŚĂƌĞƐ ŝŶ ƉŚLJƐŝĐĂů  dĞů͗ϬϭϭͲϰϮϱϰϭϮϯϰ ĨŽƌŵĂŶĚƚŚĞƚŽƚĂůŶƵŵďĞƌŽĨƐŚĂƌĞƐŝŶĚĞŵĂƚĞƌŝĂůŝƐĞĚ  &Ădž͗ϬϭϭͲϮϯϱϱϮϬϬϭ form (held with Depositories) and that the requests  ŵĂŝů͗ƌƚĂΛĂůĂŶŬŝƚ͘ĐŽŵ ĨŽƌĚĞŵĂƚĞƌŝĂůŝƐĂƟŽŶŽĨƐŚĂƌĞƐĂƌĞƉƌŽĐĞƐƐĞĚďLJƚŚĞ ZΘd ĂŐĞŶƚ ǁŝƚŚŝŶ ƐƟƉƵůĂƚĞĚ ƉĞƌŝŽĚ ŽĨ Ϯϭ ĚĂLJƐ ĂŶĚ ŚͿ ^ŚĂƌĞdƌĂŶƐĨĞƌ^LJƐƚĞŵ uploaded with the concerned depositories. The Share transfer instruments, received in physical ĨŽƌŵ͕ ĂƌĞ ƉƌŽĐĞƐƐĞĚ ďLJ ŽƵƌ ZĞŐŝƐƚƌĂƌ ĂŶĚ dƌĂŶƐĨĞƌ ũͿ ƋƵŝƚLJ^ŚĂƌĞƐŝŶƚŚĞ^ƵƐƉĞŶƐĞĐĐŽƵŶƚ ĂŐĞŶƚ͕ ůĂŶŬŝƚ ƐƐŝŐŶŵĞŶƚƐ >ŝŵŝƚĞĚ ĂŶĚ ƚŚĞ ƐŚĂƌĞ The Company has, in accordance with the procedure ĐĞƌƟĮĐĂƚĞƐĂƌĞĚŝƐƉĂƚĐŚĞĚǁŝƚŚŝŶĂƉĞƌŝŽĚŽĨϭϱĚĂLJƐ ůĂŝĚĚŽǁŶŝŶůĂƵƐĞϱ;//ͿŽĨƚŚĞ>ŝƐƟŶŐŐƌĞĞŵĞŶƚ͕ ĨƌŽŵ ƚŚĞ ĚĂƚĞ ŽĨ ƌĞĐĞŝƉƚ ƚŚĞƌĞĂŌĞƌ ƐƵďũĞĐƚ ƚŽ ƚŚĞ dematerialised 39,86,015 equity shares into ĚŽĐƵŵĞŶƚƐďĞŝŶŐĐŽŵƉůĞƚĞĂŶĚǀĂůŝĚŝŶĂůůƌĞƐƉĞĐƚƐ͘ ŽŵƉĂŶLJ͛ƐĚĞŵĂƚĞƌŝĂůŝƐĂƟŽŶĂĐĐŽƵŶƚŶĂŵĞůLJ͕͚:ŝŶĚĂů dŚĞŽŵƉĂŶLJŽďƚĂŝŶƐĂŚĂůĨͲLJĞĂƌůLJĐĞƌƟĮĐĂƚĞĨƌŽŵĂ Steel & Power Limited- Unclaimed Suspense Account’. ŽŵƉĂŶLJ^ĞĐƌĞƚĂƌLJŝŶWƌĂĐƟĐĞŝŶƌĞƐƉĞĐƚŽĨƚŚĞƐŚĂƌĞ The details of shares transferred to shareholders out ƚƌĂŶƐĨĞƌƐĂƐƌĞƋƵŝƌĞĚƵŶĚĞƌůĂƵƐĞϰϳ;ĐͿŽĨƚŚĞ>ŝƐƟŶŐ ŽĨƚŚŝƐĂĐĐŽƵŶƚŝƐŐŝǀĞŶďĞůŽǁ͗

WĂƌƟĐƵůĂƌƐ EƵŵďĞƌŽĨ^ŚĂƌĞŚŽůĚĞƌƐ EƵŵďĞƌŽĨƋƵŝƚLJ^ŚĂƌĞƐ ŐŐƌĞŐĂƚĞ ŶƵŵďĞƌ ŽĨ ƐŚĂƌĞŚŽůĚĞƌƐ ĂŶĚ ƚŚĞ ŽƵƚƐƚĂŶĚŝŶŐ 1,784 39,86,015 shares in the suspense account lying as on April 2012 EƵŵďĞƌ ŽĨ ƐŚĂƌĞŚŽůĚĞƌƐ ǁŚŽ ĂƉƉƌŽĂĐŚĞĚ ƚŚĞ ŽŵƉĂŶLJ E/> E/> for transfer of shares from suspense account during the year EƵŵďĞƌŽĨƐŚĂƌĞŚŽůĚĞƌƐƚŽǁŚŽŵƐŚĂƌĞƐǁĞƌĞƚƌĂŶƐĨĞƌƌĞĚ E/> E/> from suspense account during the year ŐŐƌĞŐĂƚĞ ŶƵŵďĞƌ ŽĨ ƐŚĂƌĞŚŽůĚĞƌƐ ĂŶĚ ƚŚĞ ŽƵƚƐƚĂŶĚŝŶŐ 1,784 39,86,015 shares in the suspense account lying as on March 2013

 dŚĞǀŽƟŶŐƌŝŐŚƚƐŽŶƚŚĞƐŚĂƌĞƐŽƵƚƐƚĂŶĚŝŶŐŝŶƚŚĞƐƵƐƉĞŶƐĞĂĐĐŽƵŶƚĂƐŽŶϯϭƐƚDĂƌĐŚ͕ϮϬϭϯƐŚĂůůƌĞŵĂŝŶĨƌŽnjĞŶƟůůƚŚĞ ƌŝŐŚƞƵůŽǁŶĞƌ;ƐͿŽĨƐƵĐŚƐŚĂƌĞƐĐůĂŝŵƚŚĞƐŚĂƌĞƐ͘ ŬͿ dƌĂŶƐĨĞƌŽĨhŶƉĂŝĚͬhŶĐůĂŝŵĞĚŵŽƵŶƚƐƚŽ/ŶǀĞƐƚŽƌĚƵĐĂƟŽŶĂŶĚWƌŽƚĞĐƟŽŶ&ƵŶĚ During the year under report, the Company has credited ` 42,16,570 lying in the unpaid/ unclaimed dividend account and ƵŶĐůĂŝŵĞĚŝŶƚĞƌĞƐƚŽŶĮdžĞĚĚĞƉŽƐŝƚƐ͕ƚŽƚŚĞ/ŶǀĞƐƚŽƌĚƵĐĂƟŽŶĂŶĚWƌŽƚĞĐƟŽŶ&ƵŶĚ;/W&ͿƉƵƌƐƵĂŶƚƚŽ^ĞĐƟŽŶϮϬϱŽĨ ƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲƌĞĂĚǁŝƚŚƚŚĞ/ŶǀĞƐƚŽƌĚƵĐĂƟŽŶĂŶĚWƌŽƚĞĐƟŽŶ&ƵŶĚ;ǁĂƌĞŶĞƐƐĂŶĚWƌŽƚĞĐƟŽŶŽĨ/ŶǀĞƐƚŽƌƐͿ Rules, 2001.

106 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Governance Report

ůͿ ŝƐƚƌŝďƵƟŽŶŽĨ^ŚĂƌĞŚŽůĚŝŶŐ dŚĞƐŚĂƌĞŚŽůĚŝŶŐĚŝƐƚƌŝďƵƟŽŶŽĨĞƋƵŝƚLJƐŚĂƌĞƐĂƐŽŶϯϭƐƚDĂƌĐŚ͕ϮϬϭϯŝƐŐŝǀĞŶŚĞƌĞƵŶĚĞƌ͗  EŽŵŝŶĂůǀĂůƵĞŽĨĞĂĐŚƐŚĂƌĞ` 1/-

EŽ͘ŽĨ йƚŽdŽƚĂů ^ŚĂƌĞŚŽůĚŝŶŐŽĨ EŽ͘ŽĨ^ŚĂƌĞƐ ŵŽƵŶƚŝŶ` йƚŽdŽƚĂů ^ŚĂƌĞŚŽůĚĞƌƐ EŽŵŝŶĂůsĂůƵĞŽĨ` 89,141 67.37 Up to 100 29,77,780 29,77,780 0.32 20,034 15.14 101 to 500 48,59,827 48,59,827 0.52 4,827 3.65 501 to 1,000 36,64,138 36,64,138 0.39 14,786 11.17 1,001 to 5,000 3,29,11,780 3,29,11,780 3.52 1,780 1.35 5,001 to 10,000 1,29,35,580 1,29,35,580 1.38 922 0.70 10,001 to 20,000 1,24,75,740 1,24,75,740 1.33 206 0.16 20,001 to 30,000 51,38,019 51,38,019 0.55 99 0.08 30,001 to 40,000 35,12,925 35,12,925 0.38 69 0.05 40,001 to 50,000 30,97,698 30,97,698 0.33 115 0.09 50,001 to 1,00,000 81,33,327 81,33,327 0.87 180 0.14 1,00,001 to 5,00,000 4,26,83,367 4,26,83,367 4.57 162 0.12 ϱ͕ϬϬ͕ϬϬϭĂŶĚĂďŽǀĞ 80,24,43,637 80,24,43,637 85.84 ϭ͕ϯϮ͕ϯϮϭ ϭϬϬ dŽƚĂů ϵϯ͕ϰϴ͕ϯϯ͕ϴϭϴ ϵϯ͕ϰϴ͕ϯϯ͕ϴϭϴ ϭϬϬ

ŵͿ ĂƚĞŐŽƌŝĞƐŽĨ^ŚĂƌĞŚŽůĚĞƌƐ;ĂƐŽŶϯϭƐƚDĂƌĐŚ͕ϮϬϭϯͿ  dŚĞĐĂƚĞŐŽƌŝĞƐŽĨƐŚĂƌĞŚŽůĚĞƌƐĂƌĞƐŚŽǁŶŚĞƌĞƵŶĚĞƌ͗

ĂƚĞŐŽƌLJ EŽ͘ŽĨ^ŚĂƌĞƐ йŽĨ,ŽůĚŝŶŐ Promoters 55,22,48,848 59.07 &/ƐͬĂŶŬƐͬD&ͬhd/ͬ/ŶƐƵƌĂŶĐĞͬĞŶƚƌĂů'ŽǀĞƌŶŵĞŶƚ 6,35,65,967 6.80 ŽƌƉŽƌĂƚĞŽĚŝĞƐ 3,81,13,629 4.08 EZ/ƐͬKƐͬ&//ͬdƌƵƐƚͬ&ŽƌĞŝŐŶEĂƟŽŶĂů 21,12,84,547 22.60 WƵďůŝĐ 6,96,20,827 7.45 dŽƚĂů ϵϯ͕ϰϴ͕ϯϯ͕ϴϭϴ ϭϬϬ͘ϬϬ

No. of Shares %

Promoters 59.07 &/ƐͬĂŶŬƐͬD&ͬhd/ͬ/ŶƐƵƌĂŶĐĞͬĞŶƚƌĂů'ŽǀĞƌŶŵĞŶƚ 6.80 ŽƌƉŽƌĂƚĞŽĚŝĞƐ 4.08 EZ/ƐͬKƐͬ&//ͬdƌƵƐƚͬ&ŽƌĞŝŐŶEĂƟŽŶĂů 22.60 WƵďůŝĐ 7.45

107 Annual Report 2012-13 ŶͿ ĞŵĂƚĞƌŝĂůŝƐĂƟŽŶŽĨ^ŚĂƌĞƐ ƐͿ /ŶǀĞƐƚŽƌŽƌƌĞƐƉŽŶĚĞŶĐĞ  ƐŽŶϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ͕ƚŚĞŶƵŵďĞƌŽĨĞƋƵŝƚLJƐŚĂƌĞƐ Company Secretary held in dematerialised form was 91,32,02,224 (97.69%) Jindal Steel & Power Limited and in physical form was 2,16,31,594 (2.31%) equity Ϯϴ͕EĂũĂĨŐĂƌŚZŽĂĚ shares. EĞǁĞůŚŝͲϭϭϬϬϭϱ͕WŚ͗ϬϭϭͲ The Company does not have any GDR’s/ADR’s/ 45021814/15/17/19/20/23/52/53, tĂƌƌĂŶƚƐŽƌĂŶLJŽŶǀĞƌƟďůĞŝŶƐƚƌƵŵĞŶƚƐŚĂǀŝŶŐĂŶLJ &ĂdžEŽ͘ϬϭϭͲϮϱϵϮϴϭϭϴ impact on equity. ŵĂŝů͗ŝŶǀĞƐƚŽƌĐĂƌĞΛũŝŶĚĂůƐƚĞĞů͘ĐŽŵ ŽͿ ŽŵƉůŝĂŶĐĞƐƵŶĚĞƌ>ŝƐƟŶŐŐƌĞĞŵĞŶƚ ƚͿ KƚŚĞƌ/ŶĨŽƌŵĂƟŽŶƚŽƚŚĞ^ŚĂƌĞŚŽůĚĞƌƐ Company is regularly complying with the provisions of ƚŚĞ >ŝƐƟŶŐ ŐƌĞĞŵĞŶƚ͘ /ŶĨŽƌŵĂƟŽŶ͕ ĐĞƌƟĮĐĂƚĞƐ ĂŶĚ  dŚĞŝǀŝĚĞŶĚĚĞĐůĂƌĞĚďLJƚŚĞŽŵƉĂŶLJĨŽƌƚŚĞ>ĂƐƚϭϬ ƌĞƚƵƌŶƐĂƐƌĞƋƵŝƌĞĚƵŶĚĞƌ>ŝƐƟŶŐŐƌĞĞŵĞŶƚĂƌĞƐĞŶƚ LJĞĂƌƐ͗Ͳ ƚŽƚŚĞƐƚŽĐŬĞdžĐŚĂŶŐĞƐǁŝƚŚŝŶƚŚĞƉƌĞƐĐƌŝďĞĚƟŵĞ͘ ^͘EŽ͘ &ŝŶĂŶĐŝĂůzĞĂƌ ŝǀŝĚĞŶĚZĂƚĞ ƉͿ KĂŶĚ&KĞƌƟĮĐĂƟŽŶ 1 2011-12 160% The Managing Director & CEO and the CFO of the 2 2010-11 150% ŽŵƉĂŶLJ ŚĂǀĞ ŐŝǀĞŶ ƚŚĞ ĐĞƌƟĮĐĂƟŽŶ ŽŶ ĮŶĂŶĐŝĂů 3 2009-10 125% ƌĞƉŽƌƟŶŐĂŶĚŝŶƚĞƌŶĂůĐŽŶƚƌŽůƐƚŽƚŚĞŽĂƌĚŝŶƚĞƌŵƐ 4 2008-09 550% of Clause 49 (V). Managing Director & CEO and the 5 2007-08 Final 250% &K ĐĞƌƟĮĞĚ ƚŚĞ ƋƵĂƌƚĞƌůLJ ĮŶĂŶĐŝĂů ƌĞƐƵůƚƐ ǁŚŝůĞ Interim 150% ƉůĂĐŝŶŐƚŚĞĮŶĂŶĐŝĂůƌĞƐƵůƚƐďĞĨŽƌĞƚŚĞŽĂƌĚŝŶƚĞƌŵƐ 6 2006-07 Final 240% ŽĨůĂƵƐĞϰϭŽĨƚŚĞ>ŝƐƟŶŐŐƌĞĞŵĞŶƚ͘ Interim 120% ƋͿ /ŶĨŽƌŵĂƟŽŶ ŽŶ ĞǀŝĂƟŽŶ ĨƌŽŵ ĐĐŽƵŶƟŶŐ 7 2005-06 Final 200% ^ƚĂŶĚĂƌĚƐ͕ŝĨĂŶLJ Interim 100%  dŚĞƌĞ ŚĂƐ ďĞĞŶ ŶŽ ĚĞǀŝĂƟŽŶ ĨƌŽŵ ƚŚĞ ĐĐŽƵŶƟŶŐ 8 2004-05 Final 200% ^ƚĂŶĚĂƌĚƐ ŝŶ ƉƌĞƉĂƌĂƟŽŶ ŽĨ ĂŶŶƵĂů ĂĐĐŽƵŶƚƐ ĨŽƌ ƚŚĞ Interim 100% ĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϮͲϭϯ͘ 9 2003-04 Final 125% ƌͿ WůĂŶƚ>ŽĐĂƟŽŶƐ Interim 75% 10 2002-03 125% tŽƌŬƐ >ŽĐĂƟŽŶ Raigarh <ŚĂƌƐŝĂZŽĂĚ͕WŽƐƚŽdžEŽ͘ϭϲ͕  'ƌĞĞŶ/ŶŝƟĂƟǀĞ ZĂŝŐĂƌŚʹϰϵϲϬϬϭ͕ŚŚĂƫƐŐĂƌŚ  DŝŶŝƐƚƌLJ ŽĨ ŽƌƉŽƌĂƚĞ īĂŝƌƐ͕ 'ŽǀĞƌŶŵĞŶƚ ŽĨ /ŶĚŝĂ͕ Raipur 13 K M Stone, G E Road, Mandir ŚĂƐ ŝƐƐƵĞĚ ŝƌĐƵůĂƌƐ ŽŶ ͚'ƌĞĞŶ /ŶŝƟĂƟǀĞ͛ ĞŶĂďůŝŶŐ ,ĂƐĂƵĚ͕ZĂŝƉƵƌʹϰϵϮϬϬϭ͕ electronic delivery of documents including the Annual ŚŚĂƫƐŐĂƌŚ Report, general correspondence etc. to shareholders Patratu ĂůŬƵĚƌĂ͕WĂƚƌĂƚƵ͕ŝƐƚƌŝĐƚ at their e-mail address previously registered with the ZĂŵŐĂƌŚ͕:ŚĂƌŬŚĂŶĚʹϴϮϵϭϰϯ ĞƉŽƐŝƚŽƌLJWĂƌƟĐŝƉĂŶƚƐ;WƐͿͬŽŵƉĂŶLJͬZĞŐŝƐƚƌĂƌƐ Angul WůŽƚEŽ͘ϳϱϭ͕EĞĂƌWĂŶĐŚƉƵŬŚŝ Θ^ŚĂƌĞdƌĂŶƐĨĞƌŐĞŶƚƐ͘ƐĂƌĞƐƉŽŶƐŝďůĞĐŽƌƉŽƌĂƚĞ ŚŚĂŬĂ͕^ŝŵƉůŝƉĂĚĂ͕ ĐŝƟnjĞŶ͕ ƚŚĞ ŽŵƉĂŶLJ ǁĞůĐŽŵĞƐ ĂŶĚ ƐƵƉƉŽƌƚƐ ƚŚĞ ŶŐƵůʹϳϱϵϭϮϮ͕KĚŝƐŚĂ͘ 'ƌĞĞŶ /ŶŝƟĂƟǀĞ ĂŶĚ ŚĂƐ ĚĞĐŝĚĞĚ ƚŽ ƐĞŶĚ ŝƚƐ ŶŶƵĂů Ăƌďŝů WůŽƚEŽ͘ϱϬϳͬϯϲϱ͕ĂƌďŝůͲ:ŽĚĂ Report to the shareholders who have registered their ,ŝŐŚǁĂLJ͕ĂƌďŝůʹϳϱϴϬϯϱ͕KĚŝƐŚĂ email addresses with the Company. Punjipatra ϮϬϭƚŽϮϬϰ/ŶĚƵƐƚƌŝĂůWĂƌŬ^^͕ WƵŶũŝƉĂƚƌĂ͕ZĂŝŐĂƌŚʹϰϵϲϬϬϭ͕ Shareholders who have not registered their e-mail ŚĂƫƐŐĂƌŚ addresses so far are requested to register their e-mail DŝŶĞƐ addresses. Those holding shares in demat form can i) Iron Ore dZ/ƌŽŶKƌĞDŝŶĞƐ͕W͘K͘dĞŶƐĂ͕ register their e-mail addresses with their concerned Mines ŝƐƚ͘^ƵŶĚĞƌŐĂƌŚʹϳϬϬϬϰϮ͕KĚŝƐŚĂ DPs. Shareholders who hold shares in physical form ii) Coal Jindal Open Cast Coal Mine, are requested to register their e-mail addresses with Mines W͘K͘ŚŽƌĂďƌĂƩĂ͕ŽŶŐĂŵĂŚƵĂ͕ ƚŚĞŽŵƉĂŶLJ͕ďLJƐĞŶĚŝŶŐĂůĞƩĞƌ͕ĚƵůLJƐŝŐŶĞĚďLJƚŚĞ ZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚͲϰϵϲϬϬϭ ĮƌƐƚͬƐŽůĞŚŽůĚĞƌƋƵŽƟŶŐĚĞƚĂŝůƐŽĨ&ŽůŝŽEŽ͘

108 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Corporate Governance Report

ϵΉ KK&KEhd ŵĞŵďĞƌƐŽĨƐĞŶŝŽƌŵĂŶĂŐĞƌŝĂůƉĞƌƐŽŶŶĞůŽĨƚŚĞŽŵƉĂŶLJ͕ Code of conduct for the Directors and Senior Management /ŚĞƌĞďLJĚĞĐůĂƌĞƚŚĂƚŝƌĞĐƚŽƌƐĂŶĚƚŚĞŵĞŵďĞƌƐŽĨƐĞŶŝŽƌ management of the Company have complied with the Code ŽĨƚŚĞŽŵƉĂŶLJǁĂƐĂĚŽƉƚĞĚďLJƚŚĞŽĂƌĚŝŶŝƚƐŵĞĞƟŶŐ ŚĞůĚŽŶϯϭƐƚKĐƚŽďĞƌ͕ϮϬϬϱ͘dŚŝƐŽĚĞŚĂƐďĞĞŶůĂŝĚĚŽǁŶ ŽĨŽŶĚƵĐƚĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϮͲϭϯ͘͟ with a view to promote good Corporate Governance and ĞdžĞŵƉůĂƌLJ ƉĞƌƐŽŶĂů ĐŽŶĚƵĐƚ ĂŶĚ ŝƐ ĂƉƉůŝĐĂďůĞ ƚŽ Ăůů ƚŚĞ ZĂǀŝhƉƉĂů Directors and Senior Managerial Personnel of the Company. Managing Director & CEO dŚŝƐŽĚĞŝƐĂůƐŽĂǀĂŝůĂďůĞŽŶƚŚĞǁĞďƐŝƚĞŽĨƚŚĞŽŵƉĂŶLJ ǁǁǁ͘ũŝŶĚĂůƐƚĞĞůƉŽǁĞƌ͘ĐŽŵ͘ ĞĐůĂƌĂƟŽŶ ŽĨ ĐŽŵƉůŝĂŶĐĞ ŽĨ ƚŚĞŽĚĞŽĨŽŶĚƵĐƚŝŶƚĞƌŵƐŽĨƐƵďͲĐůĂƵƐĞ;ŝŝͿŽĨĐůĂƵƐĞ ϭϬΉ h/dKZ͛^ Zd/&/d KE KZWKZd ϰϵ;/Ϳ;ͿŽĨůŝƐƟŶŐĂŐƌĞĞŵĞŶƚŝƐŐŝǀĞŶŚĞƌĞƵŶĚĞƌ͗ GOVERNANCE  dŚĞ ĂƵĚŝƚŽƌ͛Ɛ ĐĞƌƟĮĐĂƚĞ ŽŶ ĐŽŵƉůŝĂŶĐĞ ŽĨ ůĂƵƐĞ ϰϵ ŽĨ  ͞dŚĞ ŽĂƌĚ ŽĨ ŝƌĞĐƚŽƌƐ ŽĨ :ŝŶĚĂů ^ƚĞĞů Θ WŽǁĞƌ >ŝŵŝƚĞĚ ƚŚĞ>ŝƐƟŶŐŐƌĞĞŵĞŶƚƌĞůĂƟŶŐƚŽŽƌƉŽƌĂƚĞ'ŽǀĞƌŶĂŶĐĞŝƐ ŚĂƐ ƉƵƌƐƵĂŶƚ ƚŽ ƐƵď ĐůĂƵƐĞ ;ŝͿ ŽĨ ůĂƵƐĞ ϰϵ ;/Ϳ  ŽĨ ƚŚĞ ƉƵďůŝƐŚĞĚĂƐĂŶŶŶĞdžƵƌĞƚŽƚŚĞŝƌĞĐƚŽƌƐ͛ZĞƉŽƌƚ͘ ůŝƐƟŶŐ ĂŐƌĞĞŵĞŶƚ ůĂŝĚ ĚŽǁŶ ŽĚĞ ŽĨ ŽŶĚƵĐƚ ĨŽƌ Ăůů ŽĂƌĚ ŵĞŵďĞƌƐ ĂŶĚ ƐĞŶŝŽƌ ŵĂŶĂŐĞƌŝĂů ƉĞƌƐŽŶŶĞů ŽĨ ƚŚĞ ŽŵƉĂŶLJ ǁŚŝĐŚ ŚĂƐ ĂůƐŽ ďĞĞŶ ƉŽƐƚĞĚ ŽŶ ƚŚĞ ǁĞďƐŝƚĞ ŽĨ &ŽƌΘŽŶďĞŚĂůĨŽĨƚŚĞŽĂƌĚ ƚŚĞŽŵƉĂŶLJ͕ǀŝnj͘ǁǁǁ͘ũŝŶĚĂůƐƚĞĞůƉŽǁĞƌ͘ĐŽŵ͘/ŶƚĞƌŵƐŽĨ ƐƵďͲĐůĂƵƐĞ;ŝŝͿŽĨƚŚĞƐĂŝĚĐůĂƵƐĞĂŶĚĂƐƉĞƌ͚ĂĸƌŵĂƟŽŶŽĨ WůĂĐĞ͗EĞǁĞůŚŝ EĂǀĞĞŶ:ŝŶĚĂů ĐŽŵƉůŝĂŶĐĞ͛ ůĞƩĞƌƐ ƌĞĐĞŝǀĞĚ ĨƌŽŵ ƚŚĞ ŝƌĞĐƚŽƌƐ ĂŶĚ ƚŚĞ ĂƚĞĚ͗ϮϱƚŚƉƌŝů͕ϮϬϭϯ Chairman

ƵĚŝƚŽƌƐ͛ĞƌƟĮĐĂƚĞŽŶŽƌƉŽƌĂƚĞ'ŽǀĞƌŶĂŶĐĞ d,DDZ^͕ :/E>^d>ΘWKtZ>/D/d tĞŚĂǀĞĞdžĂŵŝŶĞĚƚŚĞĐŽŵƉůŝĂŶĐĞŽĨĐŽŶĚŝƟŽŶƐŽĨŽƌƉŽƌĂƚĞ'ŽǀĞƌŶĂŶĐĞďLJ:ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌ>ŝŵŝƚĞĚ;ƚŚĞ͚ŽŵƉĂŶLJ͛Ϳ͕ĨŽƌƚŚĞLJĞĂƌ ĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯĂƐƐƟƉƵůĂƚĞĚŝŶĐůĂƵƐĞϰϵŽĨƚŚĞ>ŝƐƟŶŐŐƌĞĞŵĞŶƚŽĨƚŚĞƐĂŝĚŽŵƉĂŶLJǁŝƚŚ^ƚŽĐŬdžĐŚĂŶŐĞ;ƐͿ͘ dŚĞĐŽŵƉůŝĂŶĐĞŽĨĐŽŶĚŝƟŽŶƐŽĨŽƌƉŽƌĂƚĞ'ŽǀĞƌŶĂŶĐĞŝƐƚŚĞƌĞƐƉŽŶƐŝďŝůŝƚLJŽĨƚŚĞDĂŶĂŐĞŵĞŶƚ͘KƵƌĞdžĂŵŝŶĂƟŽŶǁĂƐůŝŵŝƚĞĚƚŽĂ ƌĞǀŝĞǁŽĨƉƌŽĐĞĚƵƌĞƐĂŶĚŝŵƉůĞŵĞŶƚĂƟŽŶƚŚĞƌĞŽĨ͕ĂĚŽƉƚĞĚďLJƚŚĞŽŵƉĂŶLJĨŽƌĞŶƐƵƌŝŶŐƚŚĞĐŽŵƉůŝĂŶĐĞŽĨƚŚĞĐŽŶĚŝƟŽŶƐŽĨŽƌƉŽƌĂƚĞ 'ŽǀĞƌŶĂŶĐĞ͘/ƚŝƐŶĞŝƚŚĞƌĂŶĂƵĚŝƚŶŽƌĂŶĞdžƉƌĞƐƐŝŽŶŽĨŽƉŝŶŝŽŶŽŶƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞŽŵƉĂŶLJ͘ /ŶŽƵƌŽƉŝŶŝŽŶĂŶĚƚŽƚŚĞďĞƐƚŽĨŽƵƌŝŶĨŽƌŵĂƟŽŶĂŶĚĂĐĐŽƌĚŝŶŐƚŽƚŚĞĞdžƉůĂŶĂƟŽŶƐŐŝǀĞŶƚŽƵƐĂŶĚƚŚĞƌĞƉƌĞƐĞŶƚĂƟŽŶŵĂĚĞďLJƚŚĞ ŝƌĞĐƚŽƌƐĂŶĚDĂŶĂŐĞŵĞŶƚ͕ǁĞĐĞƌƟĨLJƚŚĂƚƚŚĞŽŵƉĂŶLJŚĂƐƐƵďƐƚĂŶƟĂůůLJĐŽŵƉůŝĞĚǁŝƚŚƚŚĞĐŽŶĚŝƟŽŶƐŽĨƚŚĞŽƌƉŽƌĂƚĞ'ŽǀĞƌŶĂŶĐĞ ĂƐƐƟƉƵůĂƚĞĚŝŶƚŚĞĂďŽǀĞŵĞŶƟŽŶĞĚ>ŝƐƟŶŐŐƌĞĞŵĞŶƚ͘ tĞĨƵƌƚŚĞƌƐƚĂƚĞƚŚĂƚƐƵĐŚĐŽŵƉůŝĂŶĐĞŝƐŶĞŝƚŚĞƌĂŶĂƐƐƵƌĂŶĐĞĂƐƚŽƚŚĞĨƵƚƵƌĞǀŝĂďŝůŝƚLJŽĨƚŚĞŽŵƉĂŶLJŶŽƌƚŚĞĞĸĐŝĞŶĐLJŽƌĞīĞĐƟǀĞŶĞƐƐ ǁŝƚŚǁŚŝĐŚƚŚĞDĂŶĂŐĞŵĞŶƚŚĂƐĐŽŶĚƵĐƚĞĚƚŚĞĂīĂŝƌƐŽĨƚŚĞŽŵƉĂŶLJ͘

&Žƌ^͘^͘<ŽƚŚĂƌŝDĞŚƚĂΘŽ͘ Chartered Accountants &ŝƌŵZĞŐŝƐƚƌĂƟŽŶEŽ͘ϬϬϬϳϱϲE

<͘<͘dƵůƐŚĂŶ WůĂĐĞ͗EĞǁĞůŚŝ Partner ĂƚĞĚ͗ϮϱƚŚƉƌŝů͕ϮϬϭϯ DĞŵďĞƌƐŚŝƉEŽ͘ϴϱϬϯϯ

109 Annual Report 2012-13 EEyhZ͵/s DĂŶĂŐĞŵĞŶƚŝƐĐƵƐƐŝŽŶ ĂŶĚŶĂůLJƐŝƐ

“/E/͛^&/^> DEFICIT stood at ϰ͘ϴϵйŽĨŐƌŽƐƐĚŽŵĞƐƟĐ product (GDP), compared ǁŝƚŚƚŚĞƌĞǀŝƐĞĚĞƐƟŵĂƚĞ of 5.2% of GDP earlier. dŚĞƌĞǀĞŶƵĞĚĞĮĐŝƚǁĂƐ also lower in 2012-13 at 3.6% of GDP, compared ǁŝƚŚƚŚĞƌĞǀŝƐĞĚĞƐƟŵĂƚĞ of 3.9% of GDP in 2011- 12. The government is ŝŵƉůĞŵĞŶƟŶŐƉƌŽͲŐƌŽǁƚŚ policies, including a sharp ĐƵƚŝŶĞdžƉĞŶĚŝƚƵƌĞ͕ƚŽ ƌĞĚƵĐĞĮƐĐĂůĚĞĮĐŝƚĂŶĚ drive India’s economic growth.

ECONOMIC REVIEW 'ůŽďĂůĐŽŶŽŵLJ dŚĞŐůŽďĂůĞĐŽŶŽŵLJĨĂŝůĞĚƚŽƌĂŝƐĞŚŽƉĞƐŽĨĂƋƵŝĐŬƚƵƌŶĂƌŽƵŶĚŝŶ&zϮϬϭϮͲϭϯ͘ƵƌŽƉĞĐŽŶƟŶƵĞĚƚŽ ƌĞĞů ƵŶĚĞƌ ĂŶ ĞƐĐĂůĂƟŶŐ ĚĞďƚ ďƵƌĚĞŶ ĂŶĚ ĞŵĞƌŐĞŶĐLJ ƌĞƐĐƵĞ ĞīŽƌƚƐ ďLJ ƚŚĞ ƵƌŽƉĞĂŶ ĞŶƚƌĂů ĂŶŬ ŚĞůƉĞĚĂǀŽŝĚĂĮŶĂŶĐŝĂůĐƌŝƐŝƐ͘KŶƚŚĞŽƚŚĞƌƐŝĚĞŽĨƚŚĞƚůĂŶƟĐ͕ƚŚĞh^ĞĐŽŶŽŵLJƐŚŽǁĞĚĞĂƌůLJƐŝŐŶƐ ŽĨƌĞĐŽǀĞƌLJ͕ĚƌŝǀĞŶďLJŝŵƉƌŽǀŝŶŐŵĂŶƵĨĂĐƚƵƌŝŶŐĂŶĚŚŽƵƐŝŶŐƐĞĐƚŽƌƐ͕ƐƚĞĂĚLJĮƐĐĂůĐŽŶƐŽůŝĚĂƟŽŶĂŶĚ rising employment. Most of the emerging economies remained resilient to headwinds during the last ĨĞǁLJĞĂƌƐ͘,ŽǁĞǀĞƌ͕ŵŽƐƚŽĨƚŚĞŵĞdžƉĞƌŝĞŶĐĞĚŵŽĚĞƌĂƚĞŐƌŽǁƚŚ͘'ůŽďĂů'WĞdžƉĞƌŝĞŶĐĞĚĂŐƌŽǁƚŚ ƌĂƚĞŽĨϯ͘ϭйŝŶ&zϮϬϭϮ͘/ƚŝƐůŝŬĞůLJƚŽƚŽƵĐŚϯ͘ϭйŝŶ&zϮϬϭϯĂŶĚŝŵƉƌŽǀĞƚŽϯ͘ϴйŝŶ&zϮϬϭϰ΀^ŽƵƌĐĞ͗ /ŶƚĞƌŶĂƟŽŶĂůDŽŶĞƚĂƌLJ&ƵŶĚ΁͘

'ůŽďĂů'W^ŶĂƉƐŚŽƚ ŽƵŶƚƌŝĞƐ ϮϬϭϮ ϮϬϭϯĞ ϮϬϭϰĞ World output 3.1 3.1 3.8 Advanced economies 1.2 1.2 2.1 ŵĞƌŐŝŶŐŵĂƌŬĞƚĂŶĚĚĞǀĞůŽƉŝŶŐĞĐŽŶŽŵŝĞƐ 4.9 5.0 5.4

;^ŽƵƌĐĞ͗/ŶƚĞƌŶĂƟŽŶĂůDŽŶĞƚĂƌLJ&ƵŶĚ͕ƉƌŝůϮϬϭϯͿ USA ĐĐŽƌĚŝŶŐƚŽƚŚĞ/ŶƚĞƌŶĂƟŽŶĂůDŽŶĞƚĂƌLJ&ƵŶĚ;/D&Ϳ͕ƚŚĞĨƵŶĚĂŵĞŶƚĂůƐŽĨƚŚĞh^ĞĐŽŶŽŵLJĂƌĞƐƚĂďŝůŝƐŝŶŐ͕ ĂůƚŚŽƵŐŚĂƚĂƐůŽǁƉĂĐĞ͘dŚĞƌĞĂƌĞƐƟůůƉŽǁĞƌĨƵůŚĞĂĚǁŝŶĚƐ͕ǁŚŝĐŚŶĞĞĚƚŽďĞĂĚĚƌĞƐƐĞĚǁŝƚŚŐƌĞĂƚĞƌ ĮƐĐĂůƉƌƵĚĞŶĐĞ͘dŚĞĞdžƉŝƌĂƟŽŶŽĨƚŚĞƉĂLJƌŽůůƚĂdžĐƵƚĞĂƌůŝĞƌƚŚŝƐLJĞĂƌĂŶĚƚŚĞŝŵƉĂĐƚŽĨŐŽǀĞƌŶŵĞŶƚ ƐƉĞŶĚŝŶŐ ĐƵƚ ŝƐ ĞdžƉĞĐƚĞĚ ƚŽ ĚĂŵƉĞŶ ŐƌŽǁƚŚ ŝŶ ϮϬϭϯ͘ ,ŽǁĞǀĞƌ͕ ƚŚĞ /D& ƉƌĞĚŝĐƚƐ Ă ƐůŝŐŚƚůLJ ďƌŝŐŚƚĞƌ ƉŝĐƚƵƌĞĂŶĚĞdžƉĞĐƚƐĞĐŽŶŽŵŝĐĂĐƟǀŝƚLJƚŽĂĐĐĞůĞƌĂƚĞƚŽϮ͘ϳйŝŶϮϬϭϰ͕ĂƐƚŚĞĮƐĐĂůĚƌĂŐƐƵďƐŝĚĞƐĂŶĚ ƚŚĞŶĞŐĂƟǀĞůĞŐĂĐŝĞƐŽĨƚŚĞĮŶĂŶĐŝĂůĐƌŝƐŝƐǁĂŶĞĨƵƌƚŚĞƌ͘dŚĞƌĂƚĞŽĨƵŶĞŵƉůŽLJŵĞŶƚŝƐĂůƐŽĞdžƉĞĐƚĞĚƚŽ decline in 2014.

110 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Management Discussion and Analysis

ƵƌŽnjŽŶĞ ƐƵƉƉůLJ ĐŽŶƟŶƵĞƐ ƚŽ ŽƵƚƉĂĐĞ ĚĞŵĂŶĚ͘ ^ƵďĚƵĞĚ The recent developments in the Euro region THE DOMESTIC demand from China with pressure on prices, will ŚĂǀĞ ŶŽƚ ďĞĞŶ ǀĞƌLJ ƉƌŽŵŝƐŝŶŐ͘ dŚĞ ƌĞŐŝŽŶ ŝƐ ƐƟůů “^d>/Eh^dZz ĐŽŶƟŶƵĞƚŽŝŵƉĂĐƚƚŚĞŐůŽďĂůƐƚĞĞůƐĞĐƚŽƌ͛ƐŐƌŽǁƚŚ ƉůĂŐƵĞĚďLJĮŶĂŶĐŝĂůǀƵůŶĞƌĂďŝůŝƟĞƐ͕ƌĞƐƵůƟŶŐŝŶĂŶ ŚĂƐĂƐŝŐŶŝĮĐĂŶƚƌŽůĞ rates in 2013. ĞƐƟŵĂƚĞĚ ĐŽŶƚƌĂĐƟŽŶ ŝŶ ŐƌŽǁƚŚ ƌĂƚĞ ŝŶ ϮϬϭϯ ĂƐ to play in the country’s ǁĞůů͘ >ĂĐŬ ŽĨ ĨŽƌŵĂƟŽŶ ŽĨ ĐŽŵƉƌĞŚĞŶƐŝǀĞ ƐĞƚ ŽĨ economic growth. Over Global Steel Capacity Utilisation (%) ďĂŶŬŝŶŐ͕ĮŶĂŶĐŝĂůĂŶĚĮƐĐĂůƉŽůŝĐŝĞƐŚĂƐĂĚĚĞĚƚŽ the years, India has ƚŚĞ ĞdžŝƐƟŶŐ ƉƌŽďůĞŵƐ ŽĨ ƌŝƐŝŶŐ ĚĞďƚ͕ ƉůƵŵŵĞƟŶŐ acquired a prominent 95 growth and social unrest. ƉŽƐŝƟŽŶŽŶƚŚĞŐůŽďĂůƐƚĞĞů 90 ŵĂƉ͘dŚŝƐǁĂƐĚƌŝǀĞŶďLJ 85 80 :ĂƉĂŶ ƚŚĞŐƌŽǁŝŶŐĐĂƉĂĐŝƟĞƐŽĨ 75 India’s steel industry. ŌĞƌLJĞĂƌƐŽĨƌĞĐĞƐƐŝŽŶĂŶĚƐůŽǁŐƌŽǁƚŚ͕:ĂƉĂŶ͛Ɛ 70 economy is on its way to recovery. It was plagued 65 ǁŝƚŚ ŚŝŐŚ ůĞǀĞů ŽĨ ƉƵďůŝĐ ĚĞďƚ͕ ůŽǁ ŝŶǀĞƐƚŽƌ 60 55 ĐŽŶĮĚĞŶĐĞ ĂŶĚ ŵŝŶŝŵĂů ŵĂŶƵĨĂĐƚƵƌŝŶŐ ĂĐƟǀŝƚLJ͘ 50 ,ŽǁĞǀĞƌ͕ ƚŚĞ ŶĞǁ ŐŽǀĞƌŶŵĞŶƚ ŝƐ ǁŽƌŬŝŶŐ ŽŶ

ĂŐŐƌĞƐƐŝǀĞƋƵĂŶƟƚĂƟǀĞĞĂƐŝŶŐ͕ĂƉŽƐŝƟǀĞŝŶŇĂƟŽŶ JUl 2008 JUl 2009 JUl 2010 JUl 2011 JUl 2012 Jan 2008 Jan 2009 Jan 2010 Jan 2011 Jan 2012 Oct 2008 Oct 2009 Oct 2010 Oct 2011 Oct 2012 Apr 2008 Apr 2009 Apr 2010 Apr 2011 Apr 2012 ƚĂƌŐĞƚ͕ĮƐĐĂůƐƟŵƵůƵƐĂŶĚƐƚƌƵĐƚƵƌĂůƌĞĨŽƌŵƐ͘ ^ŽƵƌĐĞ͗tŽƌůĚ^ƚĞĞůƐƐŽĐŝĂƟŽŶ;ƵƟůŝƐĂƟŽŶĚĂƚĂĐŽŵƉƌŝƐĞƐ 170 steel-producing Company) /ŶĚŝĂŶĐŽŶŽŵLJ tĞĂŬĞŶŝŶŐŐůŽďĂůƐĐĞŶĂƌŝŽ͕ĚĞĐůŝŶŝŶŐŝŶǀĞƐƚŵĞŶƚƐ /ŶĚŝĂ͛Ɛ^ƚĞĞů/ŶĚƵƐƚƌLJ ĂŶĚŝŶĐŽŶƐŝƐƚĞŶƚĚŽŵĞƐƟĐĚĞŵĂŶĚͲƐƵƉƉůLJƐŝƚƵĂƟŽŶ dŚĞ ĚŽŵĞƐƟĐ ƐƚĞĞů ŝŶĚƵƐƚƌLJ ŚĂƐ Ă ƐŝŐŶŝĮĐĂŶƚ ƌŽůĞ resulted in a slowdown in India’s growth rates in to play in the country’s economic growth. Over ϮϬϭϮͲϭϯ͘ ĞƐŝĚĞƐ͕ ƟŐŚƚĞŶĞĚ ůŝƋƵŝĚŝƚLJ ƐĐĞŶĂƌŝŽ ƚŚĞLJĞĂƌƐ͕/ŶĚŝĂŚĂƐĂĐƋƵŝƌĞĚĂƉƌŽŵŝŶĞŶƚƉŽƐŝƟŽŶ ƚŽ ƌĞŝŶ ŝŶ ŝŶŇĂƟŽŶ ĚĂŵƉĞŶĞĚ ƚŚĞ ŝŶǀĞƐƚŵĞŶƚ ŽŶ ƚŚĞ ŐůŽďĂů ƐƚĞĞů ŵĂƉ͘ dŚŝƐ ǁĂƐ ĚƌŝǀĞŶ ďLJ ƚŚĞ ƐĞŶƟŵĞŶƚ͘dŚĞĐŽƵŶƚƌLJƉŽƐƚĞĚĂĚĞĐĂĚĞͲůŽǁ'W ŐƌŽǁŝŶŐĐĂƉĂĐŝƟĞƐŽĨ/ŶĚŝĂ͛ƐƐƚĞĞůŝŶĚƵƐƚƌLJ͘ĞƐŝĚĞƐ͕ growth of 5% in 2012-13. India’s economy, now ƐƚƌĂƚĞŐŝĐ ĂĐƋƵŝƐŝƟŽŶ ŽĨ ŐůŽďĂů ƉůĂLJĞƌƐ͕ ĐŽŶƟŶƵŽƵƐ ` ĞƐƟŵĂƚĞĚĂƚΨϭ͘ϳϴƚƌŝůůŝŽŶ;ĂƌŽƵŶĚ 100 trillion), is ŵŽĚĞƌŶŝƐĂƟŽŶ ĂŶĚ ƵƉŐƌĂĚĂƟŽŶ ŽĨ ŽůĚ ƉůĂŶƚƐ͕ ĞdžƉĞĐƚĞĚƚŽŵŽǀĞĂŚĞĂĚǁŝƚŚĂƐƚƌŽŶŐĞƌƌĞƐŝůŝĞŶĐĞ͘ ŝŵƉƌŽǀŝŶŐ ĞŶĞƌŐLJͲĞĸĐŝĞŶƚ ŵĞƚŚŽĚŽůŽŐŝĞƐ ĂŶĚ ^ŝůǀĞƌůŝŶŝŶŐ ďĂĐŬǁĂƌĚ ŝŶƚĞŐƌĂƟŽŶ ŝŶƚŽ ƌĂǁ ŵĂƚĞƌŝĂů ƐŽƵƌĐŝŶŐ ĂůƐŽƉůĂLJĞĚĂŵĂũŽƌƌŽůĞŝŶĞŶŚĂŶĐŝŶŐĐĂƉĂĐŝƟĞƐŽĨ /ŶĚŝĂ͛ƐĮƐĐĂůĚĞĮĐŝƚƐƚŽŽĚĂƚϰ͘ϴϵйŽĨŐƌŽƐƐĚŽŵĞƐƟĐ the country’s steel industry. ƉƌŽĚƵĐƚ;'WͿ͕ĐŽŵƉĂƌĞĚǁŝƚŚƚŚĞƌĞǀŝƐĞĚĞƐƟŵĂƚĞ ŽĨϱ͘ϮйŽĨ'WĞĂƌůŝĞƌ͘dŚĞƌĞǀĞŶƵĞĚĞĮĐŝƚǁĂƐĂůƐŽ ŶƟĐŝƉĂƚĞĚ'ƌŽǁƚŚ lower in 2012-13 at 3.6% of GDP, compared with the /ŶĚŝĂŝƐƌĂŶŬĞĚĨŽƵƌƚŚůĂƌŐĞƐƚŐůŽďĂůůLJĨŽƌŝƚƐĐƌƵĚĞ ƌĞǀŝƐĞĚ ĞƐƟŵĂƚĞ ŽĨ ϯ͘ϵй ŽĨ 'W ŝŶ ϮϬϭϭͲϭϮ͘ dŚĞ ƐƚĞĞů ĐĂƉĂĐŝƚLJ ƉƌŽĚƵĐƟŽŶ ĂŶĚ ŝƐ ĞdžƉĞĐƚĞĚ ƚŽ ŐŽǀĞƌŶŵĞŶƚ ŝƐ ŝŵƉůĞŵĞŶƟŶŐ ƉƌŽͲŐƌŽǁƚŚ ƉŽůŝĐŝĞƐ͕ ďĞĐŽŵĞƚŚĞƐĞĐŽŶĚůĂƌŐĞƐƚďLJϮϬϭϱͲϭϲ͘/ƚŝƐĂůƐŽƚŚĞ ŝŶĐůƵĚŝŶŐĂƐŚĂƌƉĐƵƚŝŶĞdžƉĞŶĚŝƚƵƌĞ͕ƚŽƌĞĚƵĐĞĮƐĐĂů world’s largest sponge iron producer with a host of ĚĞĮĐŝƚĂŶĚĚƌŝǀĞ/ŶĚŝĂ͛ƐĞĐŽŶŽŵŝĐŐƌŽǁƚŚ͘ ĐŽĂůͲďĂƐĞĚ ƵŶŝƚƐ ůŽĐĂƚĞĚ ŝŶ ŝƚƐ ŵŝŶĞƌĂůͲƌŝĐŚ ƐƚĂƚĞƐ͘ dŚĞ ĐŽƵŶƚƌLJ͛Ɛ ĐƌƵĚĞ ƐƚĞĞů ƉƌŽĚƵĐƟŽŶ ŝƐ ĞƐƟŵĂƚĞĚ /Eh^dZzZs/tEKhd>KK< to grow at a compound annual growth rate (CAGR) of around 10% from 2010 to 2013, whereas the 'ůŽďĂů^ƚĞĞů/ŶĚƵƐƚƌLJ ĮŶŝƐŚĞĚ ƐƚĞĞů ĐŽŶƐƵŵƉƟŽŶ ŝƐ ĂŶƟĐŝƉĂƚĞĚ ƚŽ ŐƌŽǁ dŚĞLJĞĂƌϮϬϭϮƚƵƌŶĞĚŽƵƚƚŽďĞĂĐŚĂůůĞŶŐŝŶŐŽŶĞ at a CAGR of around 12% during FY 2012-14. With ĨŽƌƚŚĞŐůŽďĂůƐƚĞĞůŝŶĚƵƐƚƌLJ͘dŚŝƐǁĂƐŵĂŝŶůLJĚƵĞƚŽ ĂŶĞƐƟŵĂƚĞĚh^ΨϭƚƌŝůůŝŽŶŝŶĨƌĂƐƚƌƵĐƚƵƌĞŝŶǀĞƐƚŵĞŶƚ ƚŚĞƵƌŽnjŽŶĞĐƌŝƐŝƐ͕ǁŚŝĐŚƉĞƌƐŝƐƚĞĚƚŚƌŽƵŐŚŵĂũŽƌ plan in pipeline under the 12th Five Year Plan, the ƉĂƌƚ ŽĨ ƚŚĞ LJĞĂƌ͘ ĞƐŝĚĞƐ͕ ĞŵĞƌŐŝŶŐ ĞĐŽŶŽŵŝĞƐ ĐŽƵŶƚƌLJ͛ƐĚĞŵĂŶĚĨŽƌƐƚĞĞůŝƐĞdžƉĞĐƚĞĚƚŽĞƐĐĂůĂƚĞ͘ failed to sustain a high steel demand and witnessed ĞŵĂŶĚƌŝǀĞƌƐ supply growth outpacing demand. Recent data ĨƌŽŵƚŚĞtŽƌůĚ^ƚĞĞůƐƐŽĐŝĂƟŽŶƐŚŽǁƐƚŚĂƚŐůŽďĂů ZĞĂůƐƚĂƚĞ͗tŝƚŚĂŶŝŶǀĞƐƚŵĞŶƚǀŽůƵŵĞŽĨh^Ψϯ͘ϰ ĐƌƵĚĞ ƐƚĞĞů ƉƌŽĚƵĐƟŽŶ ƉĞĂŬĞĚ Ăƚ ϭ͕ϱϰϳ͘ϴ ďŝůůŝŽŶ ďŝůůŝŽŶ͕ /ŶĚŝĂ ǁĂƐ ƌĂŶŬĞĚ ϮϬƚŚ ŝŶ ƚŚĞ ůŝƐƚ ŽĨ ƚŚĞ tonnes in 2012, up 1.2% over the previous year. ǁŽƌůĚ͛ƐƚŽƉƌĞĂůĞƐƚĂƚĞŝŶǀĞƐƚŵĞŶƚŵĂƌŬĞƚƐŝŶϮϬϭϮ͘ LJϮϬϮϬ͕ƚŚĞƐĞĐƚŽƌŝƐĞdžƉĞĐƚĞĚƚŽĞĂƌŶƌĞǀĞŶƵĞƐŽĨ hŶĚĞƌƵƟůŝƐĂƟŽŶʹĂŶĂƌĞĂŽĨĐŽŶĐĞƌŶ h^ΨϭϴϬďŝůůŝŽŶ͘dŚĞĐŽƵŶƚƌLJ͛ƐƌĞĂůĞƐƚĂƚĞŝŶǀĞƐƚŵĞŶƚ hŶƵƟůŝƐĞĚ ĐĂƉĂĐŝƚLJ ƌĞŵĂŝŶƐ ŽŶĞ ŽĨ ƚŚĞ ŐƌĂǀĞƐƚ ŵĂƌŬĞƚŝƐůŝŬĞůLJƚŽŐƌŽǁĂƚĂ'ZŽĨϭϵйďĞƚǁĞĞŶ ŝƐƐƵĞƐ ŝŶ ƚŚĞ ŐůŽďĂů ƐƚĞĞů ƐĞĐƚŽƌ͘ tŝƚŚ ĐĂƉĂĐŝƚLJ ϮϬϭϬĂŶĚϮϬϭϰ͕ǁŝƚŚƚŚĞdŝĞƌͲ/;ŵĞƚƌŽƉŽůŝƚĂŶͿĐŝƟĞƐ ƵƟůŝƐĂƟŽŶƌĂƚĞƐƌĞŵĂŝŶŝŶŐďĞůŽǁϴϬй͕ŐůŽďĂůƐƚĞĞů ĂŶƟĐŝƉĂƚĞĚƚŽǁŝƚŶĞƐƐŵĂdžŝŵƵŵŐƌŽǁƚŚ͘

111 Annual Report 2012-13 ƵƚŽŵŽƟǀĞ͗ India is one of the fastest growing passenger OPERATIONAL AND FINANCIAL PERFORMANCE ĐĂƌ ŵĂƌŬĞƚƐ ŐůŽďĂůůLJ ĂŶĚ ƚŚĞ ƐĞĐŽŶĚ ůĂƌŐĞƐƚ ƚǁŽͲǁŚĞĞůĞƌ :^W>ʹ^ŶĂƉƐŚŽƚ ŵĂŶƵĨĂĐƚƵƌĞƌ ŐůŽďĂůůLJ͘ dŚĞ /ŶĚŝĂŶ ƐŵĂůů ĂŶĚ ůŝŐŚƚ ǀĞŚŝĐůĞ ƐĞŐŵĞŶƚƐ ĂƌĞ ĞdžƉĞĐƚĞĚ ƚŽ ŵŽƌĞ ƚŚĂŶ ĚŽƵďůĞ ďLJ ϮϬϭϱͲϭϲ ĂŶĚ :ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌ>ŝŵŝƚĞĚ;:^W>Ϳ͕Ăh^Ψϯ͘ϱďŝůůŝŽŶĐŽŵƉĂŶLJ;ŝŶ ŐƌŽǁĂƚϭϴ͘ϱй'ZŽǀĞƌƚŚĞŶĞdžƚĮǀĞLJĞĂƌƐ͘ terms of turnover), is among India’s major steel producers with ƐŝŐŶŝĮĐĂŶƚƉƌĞƐĞŶĐĞŝŶƐĞĐƚŽƌƐůŝŬĞŵŝŶŝŶŐ͕ƉŽǁĞƌŐĞŶĞƌĂƟŽŶĂŶĚ ŽŶƐƚƌƵĐƟŽŶ͗ The sector plays a vital role in India’s economic ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͘dŚĞŽŵƉĂŶLJŝƐĂƉĂƌƚŽĨh^ΨϭϴďŝůůŝŽŶK͘W:ŝŶĚĂů ŐƌŽǁƚŚ͕ƐƵƉƉŽƌƚĞĚďLJƚŚĞĐŽƵŶƚƌLJ͛ƐĞdžƉĂŶĚŝŶŐĞĐŽŶŽŵLJ͕ŝŶĐƌĞĂƐĞĚ ŐŽǀĞƌŶŵĞŶƚƐƉĞŶĚŝŶŐŽŶƉƵďůŝĐŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͕ŚŝŐŚƵƌďĂŶŝƐĂƟŽŶ ĐŽŶŐůŽŵĞƌĂƚĞĂŶĚŚĂƐŵƵůƟƉůĞďƵƐŝŶĞƐƐĞƐĂĐƌŽƐƐƚŚĞŐůŽďĞ͘ ĂŶĚ Ă ƐƵƉƉŽƌƟǀĞ ĨŽƌĞŝŐŶ ĚŝƌĞĐƚ ŝŶǀĞƐƚŵĞŶƚ ;&/Ϳ ƐLJƐƚĞŵ͘ dŚĞ dŚĞ ŽŵƉĂŶLJ͛Ɛ ŵƵůƟͲƉƌŽĚƵĐƚƐ ƉůĂŶƚƐ ĂƌĞ ůŽĐĂƚĞĚ Ăƚ ZĂŝŐĂƌŚ͕ ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͕ ŝŶĚƵƐƚƌŝĂů ĂŶĚ ĐŽŵŵĞƌĐŝĂů ĐŽŶƐƚƌƵĐƟŽŶ ŵĂƌŬĞƚƐ ZĂŝƉƵƌ͕ŶŐƵů͕WĂƚƌĂƚƵ͕ĂƌďŝůĂŶĚdĞŶƐĂ͘/ƚŽƉĞƌĂƚĞƐƚŚĞǁŽƌůĚ͛Ɛ ĐŽůůĞĐƟǀĞůLJ ĐŽŶƚƌŝďƵƚĞĚ ϳϰ͘Ϯй ŽĨ ƚŚĞ ƚŽƚĂů /ŶĚŝĂŶ ĐŽŶƐƚƌƵĐƟŽŶ ůĂƌŐĞƐƚĐŽĂůͲďĂƐĞĚƐƉŽŶŐĞŝƌŽŶƉůĂŶƚǁŝƚŚĂŶŝŶƐƚĂůůĞĚĐĂƉĂĐŝƚLJŽĨ ŝŶĚƵƐƚƌLJŝŶϮϬϭϮ͘ŽŶƐĞƋƵĞŶƚůLJ͕ƚŚĞĐŽŶƚƌŝďƵƟŽŶƐŽĨƚŚĞƐĞƚŚƌĞĞ ϭ͘ϳDdWĂƚZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ͘dŚĞŽŵƉĂŶLJ͛ƐŵƵůƟͲŝŶĚƵƐƚƌLJ ŵĂƌŬĞƚƐĂƌĞĞdžƉĞĐƚĞĚƚŽďĞƐŝŐŶŝĮĐĂŶƚŝŶƚŚĞŽǀĞƌĂůůŐƌŽǁƚŚŽĨ /ŶĚŝĂ͛ƐĐŽŶƐƚƌƵĐƟŽŶŝŶĚƵƐƚƌLJŽǀĞƌƚŚĞĨŽƌĞĐĂƐƚƉĞƌŝŽĚ͘ ƉŽƌƞŽůŝŽŝƐĚƌŝǀĞŶďLJŝƚƐĐŽŵŵŝƩĞĚĂŶĚŵŽƟǀĂƚĞĚƚĞĂŵŽĨϭϱ͕ϬϬϬ employees. /ŶĚŝĂ͛ƐWŽǁĞƌ/ŶĚƵƐƚƌLJ JSPL USPs Power sector is integral to a country’s economic growth and ƉƌŽƐƉĞƌŝƚLJ͘ ,ŽǁĞǀĞƌ͕ /ŶĚŝĂ͛Ɛ ƉŽǁĞƌ ƐĞĐƚŽƌ ŐƌĞǁ ďLJ ŽŶůLJ ϱй ŝŶ 'ŽĂů͗ :^W>͛Ɛ ŽďũĞĐƟǀĞ ŝƐ ƚŽ ŚĂǀĞ ƚŚĞ ǁŽƌůĚ͛Ɛ ůĂƌŐĞƐƚ ƐƚĞĞů ƉůĂŶƚ ƚŚĞƉƌĞǀŝŽƵƐĮƐĐĂůʹƚŚĞůŽǁĞƐƚŐƌŽǁƚŚƌĂƚĞŝŶƚŚĞůĂƐƚϭϬLJĞĂƌƐ͘ ǁŝƚŚ Ă ƉƌŽĚƵĐƟŽŶ ĐĂƉĂĐŝƚLJ ŽĨ ϭϱ DdW ĂŶĚ ƉŽǁĞƌ ŐĞŶĞƌĂƟŽŶ /ŶĚŝĂ͛ƐĚĞŵĂŶĚĨŽƌĞůĞĐƚƌŝĐŝƚLJŝƐŐƌŽǁŝŶŐƐŝŐŶŝĮĐĂŶƚůLJ͕ĂƐƉĞŽƉůĞ ĐĂƉĂĐŝƚLJŽĨŽǀĞƌϭϬ͕ϬϬϬDtďLJϮϬϮϬ͘ ĂƌĞĂƐƉŝƌŝŶŐĨŽƌĂďĞƩĞƌƋƵĂůŝƚLJŽĨůŝĨĞ͘/ƚŝƐĞdžƉĞĐƚĞĚƚŽŝŶĐƌĞĂƐĞ further in the coming years. In view of the increasing demand, WĂƌĞŶƚĂŐĞ͗ JSPL is a part of the three decades old O.P. Jindal /ŶĚŝĂ͛ƐWŽǁĞƌDŝŶŝƐƚƌLJŚĂƐƚĂƌŐĞƚĞĚĂĐĂƉĂĐŝƚLJĂĚĚŝƟŽŶŽĨϴϱ͕ϬϬϬ 'ƌŽƵƉ͕Ăh^ΨϭϴďŝůůŝŽŶĐŽŶŐůŽŵĞƌĂƚĞ;ŝŶƚĞƌŵƐŽĨ'ƌŽƐƐƚƵƌŶŽǀĞƌͿ DtŝŶƚŚĞdǁĞůŌŚ&ŝǀĞzĞĂƌWůĂŶ;ϮϬϭϮͲϭϳͿ͘ ǁŝƚŚ Ă ŵƵůƟͲƉƌŽĚƵĐƚ͕ ƚƌĂŶƐĐŽŶƟŶĞŶƚĂů ƉƌĞƐĞŶĐĞ͘ dŚĞ ŐƌŽƵƉ comprises companies, namely JSW Steel, JSPL, Jindal Saw and /ŶĚŝĂ͛ƐDĞƚĂůƐĂŶĚDŝŶŝŶŐ/ŶĚƵƐƚƌLJ Jindal Stainless, among others. dŚĞ/ŶĚŝĂŶŵĞƚĂůƐĂŶĚŵŝŶŝŶŐŝŶĚƵƐƚƌLJŚĂƐďĞĞŶǀĂůƵĞĚĂƚh^Ψ ϭϰϭ͘ϵďŝůůŝŽŶŝŶϮϬϭϭĂŶĚŝƐĞdžƉĞĐƚĞĚƚŽŐƌŽǁƚŽh^ΨϯϬϱ͘ϱďŝůůŝŽŶ WŽƌƞŽůŝŽ͗ JSPL is present in diverse industry sectors, namely steel, ďLJϮϬϭϱ͘dŚĞĐŽƵŶƚƌLJĂĐĐŽƵŶƚĞĚĨŽƌϳ͘ϯйŽĨƚŚĞƐŝĂWĂĐŝĮĐŵĞƚĂů energy, mining, petroleum and infrastructure. ĂŶĚŵŝŶŝŶŐŝŶĚƵƐƚƌLJŝŶϮϬϭϭ͘/ƚŝƐůŝŬĞůLJƚŽŝŵƉŽƌƚϭ͘ϬŵŝůůŝŽŶŵĞƚƌŝĐ WŝŽŶĞĞƌ͗:^W>ǁĂƐƚŚĞĮƌƐƚƚŽƉƌŽĚƵĐĞĞŶĞƌŐLJĨƌŽŵƚŚĞǁĂƐƚĞŚĞĂƚ ƚŽŶŶĞƐŽĨŝƌŽŶŽƌĞĞĂĐŚŵŽŶƚŚĨƌŽŵƚŚĞĐƵƌƌĞŶƚĮƐĐĂů͕ĚĞƐƉŝƚĞŝƚƐ ůŽŶŐŚĞůĚƐƚĂƚƵƐĂƐƚŚĞǁŽƌůĚ͛ƐƚŚŝƌĚůĂƌŐĞƐƚĞdžƉŽƌƚĞƌ͘dŚĞĐŽƵŶƚƌLJ ƌĞĐŽǀĞƌLJďŽŝůĞƌŽĨƐƉŽŶŐĞŝƌŽŶ͘/ƚŚĂƐƉŝŽŶĞĞƌĞĚƚŚĞŵĂŶƵĨĂĐƚƵƌĞ ǁŝƚŶĞƐƐĞĚŝƚƐůŽǁĞƐƚĞǀĞƌŝƌŽŶŽƌĞĞdžƉŽƌƚŝŶϮϬϭϮͲϭϯ͕ĞƐƟŵĂƚĞĚ ŽĨ ƚŚĞ ǁŽƌůĚ͛Ɛ ůŽŶŐĞƐƚ ϭϮϭ ŵĞƚƌĞ ƌĂŝůƐ ĂŶĚ ůĂƌŐĞͲƐŝnjĞ ƉĂƌĂůůĞů at close to 18 million tonnes (mt), a decline of 69% compared to ŇĂŶŐĞďĞĂŵƐ͘/ƚŝƐƚŚĞŽŶůLJŵĂŶƵĨĂĐƚƵƌĞƌŝŶ/ŶĚŝĂŵĂŶƵĨĂĐƚƵƌŝŶŐ ƚŚĞƉƌĞǀŝŽƵƐLJĞĂƌ͘dŚŝƐŝƐƉƌŝŵĂƌŝůLJĚƵĞƚŽĂĚĞĐůŝŶĞŝŶĚŽŵĞƐƟĐ tĞůĚĞĚDĞƐŚĨŽƌdDdŵĂƌŬĞƚ͘ ŽƵƚƉƵƚŽŶĂĐĐŽƵŶƚŽĨĂďĂŶŽŶŝůůĞŐĂůŵŝŶŝŶŐŽƉĞƌĂƟŽŶƐŝŶƐŽŵĞ ŵŝŶĞƌĂůͲƌŝĐŚƐƚĂƚĞƐ͘ĞƐƉŝƚĞƚŚĞ^ƵƉƌĞŵĞŽƵƌƚůŝŌŝŶŐŝƚƐďĂŶŽŶ ZĞƚĂŝů͗:^W>ŚĂƐĨŽƌĂLJĞĚŝŶƚŽƚŚĞƌĞƚĂŝůŵĂƌŬĞƚǁŝƚŚdDdZĞďĂƌƐ ŵŽƐƚŵŝŶĞƐ͕ŝƚǁŽƵůĚƚĂŬĞƐŽŵĞƟŵĞĨŽƌƚŚĞŵƚŽďĞŽƉĞƌĂƟŽŶĂů foreseeing huge opportunity in the Indian housing sector. The ƚŽƚŚĞŝƌĨƵůůĞƐƚĞdžƚĞŶƚ͘ ŽŵƉĂŶLJŚĂƐϭϮĚŝƐƚƌŝďƵƚŽƌƐĂŶĚŽǀĞƌϲϬϬĚĞĂůĞƌƐƐƉƌĞĂĚĂĐƌŽƐƐ the country.

ZĞĂĐŚ͗ /ƚƐ ŽƉĞƌĂƟŽŶƐ ĂƌĞ ƐƉƌĞĂĚ ĂĐƌŽƐƐ /ŶĚŝĂ ĂŶĚ ϭϰ ŽƚŚĞƌ (In mn tonnes) /ƌŽŶKƌĞdžƉŽƌƚƐĂŶĚWƌŽĚƵĐƟŽŶ countries across Asia, Africa and Australia.

ϭϮͲϭϯΎ 16.34 ^ƵƐƚĂŝŶĂďůĞ͗ Ɛ Ă ƌĞƐƉŽŶƐŝďůĞ ĐŽƌƉŽƌĂƚĞ ĐŝƟnjĞŶ͕ :^W> ŐŽĞƐ ĂŶ 61.74 ĞdžƚƌĂ ŵŝůĞ ƚŽ ĞŶƐƵƌĞ ƐŽĐŝĂů ĂŶĚ ĞŶǀŝƌŽŶŵĞŶƚĂů ƐƵƐƚĂŝŶĂďŝůŝƚLJ͘ /ƚ 11-12 167.28 ŚĂƐĐƌĞĂƚĞĚĂƉŽƐŝƟǀĞŝŵƉĂĐƚŽŶƚŚĞĐŽŵŵƵŶŝƟĞƐŝŶƚŚĞǀŝĐŝŶŝƚLJ ŽĨŝƚƐŽƉĞƌĂƟŽŶƐ͕ĨŽĐƵƐŝŶŐŽŶŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͕ĞĚƵĐĂƟŽŶ͕ŚĞĂůƚŚ͕ 97.66 10-11 ǁĂƚĞƌ͕ƐĂŶŝƚĂƟŽŶĂŶĚĞŶǀŝƌŽŶŵĞŶƚ͘ 207.15 117.37 dĞĂŵ͗ dŚĞ ŽŵƉĂŶLJ ŚĂƐ ĂŶ ĞdžƉĞƌŝĞŶĐĞĚ ĂŶĚ ƚĂůĞŶƚĞĚ ƉŽŽů ŽĨ 09-10 218.55 over 15,000 devoted employees.

105.56 KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ 08-09 212.96 :^W>ŽƉĞƌĂƚĞƐǁŝƚŚĐĂƉĂĐŝƟĞƐŽĨϯDdWŽĨƐƚĞĞů͕ϭϱDdWŽĨŝƌŽŶ ŽƌĞĂŶĚĐŽĂůŵŝŶŝŶŐ͕Ϯ͕ϰϱϳDtŽĨƉŽǁĞƌŐĞŶĞƌĂƟŽŶ͕ϭ͘ϱDdW ŽĨŚŽƚďƌŝƋƵĞƩĞĚŝƌŽŶĂŶĚϰ͘ϱDdWŽĨƉĞůůĞƚ͘dŚĞŽŵƉĂŶLJŝƐ džƉŽƌƚƐ WƌŽĚƵĐƟŽŶ ĂŵŽŶŐƚŚĞĨĞǁŝŶƚŚĞǁŽƌůĚŽƉĞƌĂƟŶŐĂƐĂĨƵůůLJŝŶƚĞŐƌĂƚĞĚƐƚĞĞů &ŽƌϭϬŵŽŶƚŚƐďĞƚǁĞĞŶƉƌŝůͲ:ĂŶƵĂƌLJ͕EʹǀĂŝůĂďůĞ ŵĂŶƵĨĂĐƚƵƌĞƌ ǁŝƚŚ ƉƌĞƐĞŶĐĞ ĂĐƌŽƐƐ ƚŚĞ ǀĂůƵĞ ĐŚĂŝŶ ŽĨ ŇĂƚƐ ^ŽƵƌĐĞ͗&ĞĚĞƌĂƟŽŶŽĨ/ŶĚŝĂŶDŝŶĞƌĂů/ŶĚƵƐƚƌŝĞƐ and longs.

112 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements DĂŶĂŐĞŵĞŶƚŝƐĐƵƐƐŝŽŶ ĂŶĚŶĂůLJƐŝƐ

2012-13 in Flashback Despite external macroeconomic challenges and internal ĚŽŵĞƐƟĐ ďŽƩůĞŶĞĐŬƐ͕ ƚŚĞ ŽŵƉĂŶLJ ƌĞƉŽƌƚĞĚ ŶŽƚĂďůĞ ĂĐŚŝĞǀĞŵĞŶƚƐĂŶĚĞdžƉĂŶĚĞĚĐĂƉĂĐŝƟĞƐ͘EĞǁƉƌŽĚƵĐƚƐ͕ŐůŽďĂůůLJ ƌĞŶŽǁŶĞĚĐƵƐƚŽŵĞƌƐĂŶĚĞŶŚĂŶĐĞĚĐĂƉĂďŝůŝƟĞƐƐƚƌĞŶŐƚŚĞŶĞĚŝƚƐ ƉƌĞƐĞŶĐĞĂƐĂŐƌŽǁŝŶŐĐŽŶŐůŽŵĞƌĂƚĞ͘ Raigarh dŚĞƉůĂŶƚŝƐǁĞůůŬŶŽǁŶĨŽƌďĞŝŶŐƚŚĞƐŝŶŐůĞůĂƌŐĞƐƚϯDdWƐƚĞĞů ĨĂĐŝůŝƚLJ ;ĨƌŽŵ ĐŽĂůͲďĂƐĞĚ ŝƌŽŶͲŽƌĞ ƐƉŽŶŐĞͿ ǁŝƚŚ ƋƵĂůŝƚLJ ƐƚĞĞů ĂŶĚ ĐƵƐƚŽŵĞƌŽƌŝĞŶƚĂƟŽŶ͘dŚĞ^ƚĞĞůDĞůƟŶŐ^ŚŽƉĐƌŽƐƐĞĚƚŚĞƉƌŽĚƵĐƟŽŶ ŽĨ ϯ ŵŝůůŝŽŶ ƚŽŶŶĞƐ ĚƵƌŝŶŐ ƚŚĞ LJĞĂƌ ƵŶĚĞƌ ƌĞǀŝĞǁ͘ dŚŝƐ ǁĂƐ ĂďůLJ ƐƵƉƉŽƌƚĞĚǁŝƚŚĂƌĞĐŽƌĚƐŝŶƚĞƌ͕ŚŽƚŵĞƚĂůĂŶĚŇƵdžĞƐ͘/ƌŽŶĂŶĚƐƚĞĞů ŵĂŬŝŶŐĂůƐŽƐĞƚĂŶĞǁďĞŶĐŚŵĂƌŬďLJƐƵƌƉĂƐƐŝŶŐĂĐŚŝĞǀĞŵĞŶƚƐŽĨ ƚŚĞƉƌĞǀŝŽƵƐLJĞĂƌ͘ƵƌŝŶŐƚŚĞLJĞĂƌ͕ƚŚĞƉůĂŶƚǁŝƚŶĞƐƐĞĚƚŚĞŚŝŐŚĞƐƚ ĞǀĞƌĚŝƐƉĂƚĐŚ͕ĐƌŽƐƐŝŶŐϯ͘ϬϱŵŝůůŝŽŶƚŽŶŶĞƐĂŶŶƵĂůůLJ͕ǁŝƚŚĂŶĂǀĞƌĂŐĞ ĚĂŝůLJĚŝƐƉĂƚĐŚƌĂƚĞŽĨϭϭ͕ϭϭϲƚŽŶŶĞƐ͘KŶƚŚĞƋƵĂůŝƚLJĨƌŽŶƚ͕ƚŚĞƉůĂŶƚ ƐŚŽǁĞĚ ŝŵƉƌŽǀĞŵĞŶƚƐ ŝŶ ƉƌŽĚƵĐƚƐ ǁŚĞƌĞŝŶ ďŝůůĞƚƐ͕ ƌŽƵŶĚƐ ĂŶĚ ƐƚƌƵĐƚƵƌĞƐ Ăƚ ZhD͕ D>^D ĂŶĚ ƉůĂƚĞ ŵŝůůͲ Ăůů ƉŽƌƚƌĂLJĞĚ ƌĞĚƵĐĞĚ ŝŵƉƵƌŝƟĞƐ͘ Raipur dŚĞĚŝǀŝƐŝŽŶĂƚZĂŝƉƵƌƚĂŬĞƐĐĂƌĞŽĨŚĞĂǀLJŵĂĐŚŝŶĞƌLJĞƋƵŝƉŵĞŶƚ͕ ƚĂŬŝŶŐ ĐĂƌĞ ŽĨ ƚŚĞ 'ƌŽƵƉ͛Ɛ ƌĞƋƵŝƌĞŵĞŶƚƐ ĨŽƌ ĞƋƵŝƉŵĞŶƚ ĂŶĚ ƐƉĂƌĞƐĨŽƌƐƚĞĞů͕ĐĞŵĞŶƚ͕ŵŝŶŝŶŐĂŶĚƉŽǁĞƌƉůĂŶƚƐ͘ĞƐŝĚĞƐ͕ƚŚĞ ĚŝǀŝƐŝŽŶ ĂůƐŽ ĚĞƌŝǀĞƐ ƌĞǀĞŶƵĞƐ ĨƌŽŵ ƐŝŵŝůĂƌ ŝŶĚƵƐƚƌŝĞƐ ŝŶ /ŶĚŝĂ ĂŶĚ ĂďƌŽĂĚ͘ ƵƌŝŶŐ ƚŚĞ LJĞĂƌ͕ ŝƚ ĞŶŚĂŶĐĞĚ ŝƚƐ ǁŽƌŬŝŶŐ ĂƌĞĂ ďLJ ĞdžƉĂŶĚŝŶŐĐŽǀĞƌĞĚƐŚĞĚĂƌĞĂďLJŵŽƌĞƚŚĂŶϵ͕ϬϬϬƐƋƵĂƌĞŵĞƚƌĞ͘ dŚĞ ŚŝŐŚůŝŐŚƚ ĨŽƌ ƚŚĞ LJĞĂƌ ǁĂƐ ƚŚĞ ƐƵĐĐĞƐƐĨƵů ĐŽŵƉůĞƟŽŶ ĂŶĚ ĚĞůŝǀĞƌLJ ŽĨ ϰϱϬ ŵƚ ,Žƚ DĞƚĂů >ĂĚůĞ ƌĂŶĞ͕ ĂŶĚ ϮϱϬ ŵƚ >ĂĚůĞ dƌĂŶƐĨĞƌĂƌ͘/ƚƌĞĐĞŝǀĞĚĂƉƉƌŽǀĂůƐĨƌŽŵ/ŶĚŝĂŶŽŝůĞƌZĞŐƵůĂƟŽŶ Barbil ;/ZͿĨŽƌŵĂŶƵĨĂĐƚƵƌŝŶŐƉƌĞƐƐƵƌĞƉĂƌƚƐĂŶĚǀĂůǀĞƐĂŶĚĂƉƉƌŽǀĂů dŚĞŽŵƉĂŶLJ͛ƐƉĞůůĞƚŵĂŶƵĨĂĐƚƵƌŝŶŐƉůĂŶƚ;ϰ͘ϱDdWĐĂƉĂĐŝƚLJͿ ĨƌŽŵ WĞƚƌŽůĞƵŵ Θ džƉůŽƐŝǀĞ ^ĂĨĞƚLJ KƌŐĂŶŝƐĂƟŽŶ ;W^KͿ ĨŽƌ ŵĂŬĞƐĚŝīĞƌĞŶƚŬŝŶĚƐŽĨƉĞůůĞƚƐ͘/ŶĂĚĚŝƟŽŶƚŽĂϰ͘ϱDdWŝƌŽŶ ŵĂŶƵĨĂĐƚƵƌŝŶŐhŶĮƌĞĚWƌĞƐƐƵƌĞsĞƐƐĞů;EŽŶͲƌLJŽŐĞŶŝĐͿ͘ ŽƌĞ ƉĞůůĞƟƐĂƟŽŶ ƉůĂŶƚ͕ ƚŚĞ ŽŵƉĂŶLJ ŝƐ ĂůƐŽ ĐŽŵŝŶŐ ƵƉ ǁŝƚŚ ĞŶŚĂŶĐĞĚƉƌŽĐĞƐƐĞƐƚŽƉƌŽĚƵĐĞĂƐƵƉĞƌŝŽƌƋƵĂůŝƚLJƉƌŽĚƵĐƚ͘dŚĞ Patratu ĚŝǀŝƐŝŽŶƌĞĐŽƌĚĞĚƉƌŽĚƵĐƟŽŶŽĨϰ͘ϬϮDdWǁŝƚŚĂƚŽƚĂůŽĨϴ͕ϭϰϮ dŚĞĐƵƚĂŶĚďĞŶĚƉůĂŶƚǁĂƐĐŽŵŵŝƐƐŝŽŶĞĚŝŶ^ĞƉƚĞŵďĞƌϮϬϭϮ͘ ŽƉĞƌĂƟŶŐ ŚŽƵƌƐ͘ ƵƌŝŶŐ ƚŚĞ LJĞĂƌ͕ ƚŚĞ ŽŵƉĂŶLJ ƐƵĐĐĞƐƐĨƵůůLJ dŚĞ ĞůĞĐƚƌŽ ǁĞůĚ ŵĞƐŚ ƉůĂŶƚ͕ ŝŶǀŽůǀŝŶŐ ` ϮϭͲĐƌŽƌĞ ŝŶǀĞƐƚŵĞŶƚ͕ ŝŵƉůĞŵĞŶƚĞĚ/D^ĂŶĚƌĞĐĞŝǀĞĚ/^KĐĞƌƟĮĐĂƟŽŶĨŽƌƚŚĞƉůĂŶƚ͘/ƚ ǁĂƐ ĐŽŵŵŝƐƐŝŽŶĞĚ ŝŶ ĞĐĞŵďĞƌ ϮϬϭϮ͘ /ƚ ƌĞŶĞǁĞĚ ŝƚƐ ǀĂƌŝŽƵƐ ĂůƐŽĂĐŚŝĞǀĞĚĂƋƵĂůŝƚLJƉĞƌĐĞŶƚĂŐĞŽĨϵϰйŝŶd͘/ĂŶĚϮϱϯĨŽƌ^ ĐĞƌƟĮĐĂƟŽŶƐĂŌĞƌƚŚĞƐƵƌǀĞŝůůĂŶĐĞĂƵĚŝƚǁĂƐĐŽŶĚƵĐƚĞĚ͘ ;ŬŐͬƉĞůůĞƚͿ͘ Wire Rod Mill:ƵƌŝŶŐ&zϮϬϭϮͲϭϯ͕ƚŚĞŽŵƉĂŶLJ͛ƐƚŽƚĂůƉƌŽĚƵĐƟŽŶ Tensa ŝŶĐƌĞĂƐĞĚĨƌŽŵϮ͕ϱϬ͕ϱϵϴƚŽŶŶĞƐŝŶϮϬϭϭͲϭϮƚŽϯ͕Ϯϰ͕ϵϰϬƚŽŶŶĞƐ dŚĞ ŽŵƉĂŶLJ͛Ɛ ŝƌŽŶ ŽƌĞ ŵŝŶĞ Ăƚ dĞŶƐĂ ƐƵƉƉůŝĞƐ ŝƌŽŶ ŽƌĞ ĨŽƌ ŝŶϮϬϭϮͲϭϯ͘ ƉƌŽĚƵĐŝŶŐƐƉŽŶŐĞŝƌŽŶ͘ƐĂƉĂƌƚŽĨ:^W>͛ƐďĂĐŬǁĂƌĚŝŶƚĞŐƌĂƟŽŶ Bar Mill: ƵƌŝŶŐ ƚŚĞ LJĞĂƌ ƵŶĚĞƌ ƌĞǀŝĞǁ͕ ƚŚĞ ŵŝůů ĂĐŚŝĞǀĞĚ Ă ƉůĂŶƐ ƚŽ ŵĂŬĞ ƚŚĞ ŽŵƉĂŶLJ ƐĞůĨͲƌĞůŝĂŶƚ͕ ŝƌŽŶ ŽƌĞ ĨƌŽŵ dĞŶƐĂ ƚŽƚĂů ƉƌŽĚƵĐƟŽŶ ŽĨ ϯ͕ϮϮ͕Ϭϯϵ ƚŽŶŶĞƐ͕ ĂŐĂŝŶƐƚ ϵϳ͕ϭϰϱ ƚŽŶŶĞƐ ŝŶ ŵŝŶĞƐĞŶƐƵƌĞƐĐŽŶƐŝƐƚĞŶĐLJŝŶƌĂǁŵĂƚĞƌŝĂůƋƵĂůŝƚLJ͘/ƚŚĂƐĚĞƉůŽLJĞĚ ϮϬϭϭͲϭϮ͘/ƚĂĐŚŝĞǀĞĚĂƌĞĐŽƌĚĚĂŝůLJƉƌŽĚƵĐƟŽŶŽĨϯ͕ϮϵϮ͘ϯϰϭƚŽŶŶĞƐ ŝƚƐŽǁŶŇĞĞƚŽĨ,DDĞƋƵŝƉŵĞŶƚƚŽĞŶƐƵƌĞďĞƩĞƌĐŽŶƚƌŽůŽŶ ĚƵƌŝŶŐƚŚĞƐĂŵĞƉĞƌŝŽĚ͘/ƚŝŶĐƌĞĂƐĞĚŝƚƐLJŝĞůĚĂƐǁĞůůƚŽϵϳ͘ϯϭйŝŶ ŽƉĞƌĂƟŽŶƐ͘dŚŝƐŚĂƐĂůƐŽĂůůŽǁĞĚŝƚƚŽĞŶƐƵƌĞƐƵƐƚĂŝŶĂďůĞŵŝŶŝŶŐ͕ &zϮϬϭϮͲϭϯ͘ ǁŝƚŚĂǀĂŝůĂďŝůŝƚLJŽĨŚŝŐŚͲŐƌĂĚĞŝƌŽŶŽƌĞĂŶĚĮŶĞƐĨŽƌƐŝŶƚĞƌƉůĂŶƚ ĂƚZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ͘ Angul dŚĞ ŽŵƉĂŶLJ ŝƐ ƐĞƫŶŐ ƵƉ Ă ϲ͘Ϭ DdW ŝŶƚĞŐƌĂƚĞĚ ƐƚĞĞů ƉůĂŶƚ Financial Performance ;ǁŝƚŚĂϭ͘ϱDdWƉůĂƚĞŵŝůůĂůƌĞĂĚLJŽƉĞƌĂƟŽŶĂůͿ͕ĂůŽŶŐǁŝƚŚĂŶ JSPL Consolidated ϴϭϬ;ϲdžϭϯϱͿDtĐĂƉƟǀĞƉŽǁĞƌƉůĂŶƚ͘dŚĞƉƌŽũĞĐƚǁŝůůƵƐĞƚŚĞ dŚĞŽŵƉĂŶLJ͛ƐƉƌŽĮƚĂŌĞƌƚĂdžƐƚŽŽĚĂƚ` Ϯ͕ϵϭϭ͘ϲϮĐƌŽƌĞĚƵƌŝŶŐ ƐLJŶƚŚĞƐŝƐŐĂƐͲďĂƐĞĚĚŝƌĞĐƚƌĞĚƵĐĞĚŝƌŽŶ;Z/ͿƚĞĐŚŶŽůŽŐLJĨŽƌƚŚĞ &zϮϬϭϮͲϭϯǀŝƐͲĂͲǀŝƐ`ϰ͕ϬϬϮ͘ϮϲĐƌŽƌĞĚƵƌŝŶŐƚŚĞƉƌĞǀŝŽƵƐLJĞĂƌ͘ ĮƌƐƚƟŵĞŐůŽďĂůůLJ͘ ŝůƵƚĞĚĞĂƌŶŝŶŐƐĂŶĚďĂƐŝĐĞĂƌŶŝŶŐƐƉĞƌƐŚĂƌĞǁĂƐ`ϯϭ͘ϭϯĨŽƌƚŚĞ ĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϮͲϭϯ;ϮϬϭϭͲϭϮ͗` ϰϮ͘ϰϮͿ͘

113 Annual Report 2012-13 EĞƚ^ĂůĞƐĂŶĚKƚŚĞƌKƉĞƌĂƟŶŐ/ŶĐŽŵĞ (` in Crore) hŶĚĞƌƐƚĂŶĚŝŶŐ ƚŚĞ ŝŵƉŽƌƚĂŶĐĞ ŽĨ ŽƌŐĂŶŝƐĂƟŽŶĂů ǀĂůƵĞƐ͕ ƚŚĞ ϮϬϭϮͲϭϯ 2011-12 Change % ŽŵƉĂŶLJ ŝŵƉůĞŵĞŶƚĞĚ >ĂƌŐĞ ^ĐĂůĞ /ŶƚĞƌĂĐƟǀĞ WƌŽŐƌĂŵ ;>^/WͿ ĂĐƌŽƐƐŝƚƐĞŵƉůŽLJĞĞďĂƐĞƚŽĐŽŵŵƵŶŝĐĂƚĞŝƚƐǀĂůƵĞƐĐůĞĂƌůLJ͘dŚĞ EĞƚƐĂůĞƐĂŶĚŽƚŚĞƌ 19,943.20 18,350.54 8.68 ŽŵƉĂŶLJĞdžĞĐƵƚĞĚĂƌŽďƵƐƚƌĞǁĂƌĚĂŶĚƌĞĐŽŐŶŝƟŽŶƉƌŽŐƌĂŵŵĞ ŽƉĞƌĂƟŶŐŝŶĐŽŵĞ ƚŽƌĞŝŶĨŽƌĐĞƚŚĞƐĞǀĂůƵĞƐŽŶĂƐƵƐƚĂŝŶĂďůĞďĂƐŝƐ͘ ZĂǁDĂƚĞƌŝĂůƐ (` in Crore) The Company also launched a unique programme to manage ϮϬϭϮͲϭϯ 2011-12 Change % ĂĚƵůƚ ĞŐŽ ĐĂůůĞĚ ƚŚĞ ͚ĐŽƌƉŽƌĂƚĞ ƚŚĞĂƚƌĞ͛͘ dŚĞ ƉƌŽŐƌĂŵŵĞ Raw materials 6306.89 5460.38 15.50 ŚŝŐŚůŝŐŚƚƐĞǀĞƌLJŝŶĚŝǀŝĚƵĂů͛ƐƐŝŐŶŝĮĐĂŶĐĞĂŶĚĐŽŶƚƌŝďƵƟŽŶƚŽƚŚĞ consumed ŽƌŐĂŶŝƐĂƟŽŶ͕ ŝƌƌĞƐƉĞĐƟǀĞ ŽĨ ƚŚĞŝƌ ĚĞƐŝŐŶĂƟŽŶ Žƌ ŚŝĞƌĂƌĐŚLJ͘ /ƚ ĞŶĂďůĞƐƉĞŽƉůĞƚŽĨƵŶĐƟŽŶĂƐŝŶĚŝǀŝĚƵĂůƐĂŶĚĂƐƚĞĂŵƐ͘ ƵĞƚŽĞŶŚĂŶĐĞĚƉƌŽĚƵĐƟŽŶĂŶĚƌŝƐĞŝŶĐŽƐƚƐŽĨŬĞLJƌĂǁŵĂƚĞƌŝĂůƐ͕ there was an increase in the cost of raw material consumed. KZWKZd^K/>Z^WKE^//>/dz ƚ :^W>͕ ƚŚĞ ŽƌƉŽƌĂƚĞ ^ŽĐŝĂů ZĞƐƉŽŶƐŝďŝůŝƚLJ ;^ZͿ ĂƉƉƌŽĂĐŚ ŝƐ ŵƉůŽLJĞĞĞŶĞĮƚdžƉĞŶƐĞ (` in Crore) ƐƚƌĂƚĞŐŝĐ ŝŶ ŶĂƚƵƌĞ ĂŶĚ ŝƐ ĞŵďĞĚĚĞĚ ŝŶ ŝƚƐ ďƵƐŝŶĞƐƐ ƉƌŽĐĞƐƐĞƐ ϮϬϭϮͲϭϯ ϮϬϭϭͲϭϮ ŚĂŶŐĞй ĂĐƌŽƐƐƚŚĞŽŵƉĂŶLJ͛ƐĞŶƟƌĞǀĂůƵĞĐŚĂŝŶ͘/ƚƐŽďũĞĐƟǀĞŝƐƚŽŝŵƉƌŽǀĞ ŵƉůŽLJĞĞďĞŶĞĮƚ 641.49 591.29 8.49 ƚŚĞ ͚YƵĂůŝƚLJ ŽĨ >ŝĨĞ͛ ŽĨ ƚŚĞ ĐŽŵŵƵŶŝƚLJ ŽŶ Ă ƐƵƐƚĂŝŶĂďůĞ ďĂƐŝƐ ĞdžƉĞŶƐĞ following a pro-development and inclusive paradigm of growth. &ŽƌĂƐƐĞƐƐŝŶŐƚŚĞĐŽŵŵƵŶŝƚLJ͛ƐŶĞĞĚĨŽƌĂƌĞĂůŝƐƟĐĂŶĚƐƵƐƚĂŝŶĂďůĞ dŚĞ ƉĂLJŵĞŶƚƐ ƚŽ ĞŵƉůŽLJĞĞƐ ǁĞƌĞ ŚŝŐŚĞƌ ďLJ ϴ͘ϰϵй ŽǀĞƌ ƚŚĞ ĚĞǀĞůŽƉŵĞŶƚ͕ĂƐŽĐŝŽͲĞĐŽŶŽŵŝĐƐƵƌǀĞLJǁĂƐĐŽŶĚƵĐƚĞĚ͘ĂƐĞĚŽŶ previous year, primarily on account of project commissioning. the result, the Company adopted CSR policies and partnered with ŐŽǀĞƌŶŵĞŶƚ ĂŐĞŶĐŝĞƐ͕ KƐ ĂŶĚ ƚŚĞ ůŽĐĂů ĐŽŵŵƵŶŝƚLJ ƚŽ ďƌŝŶŐ &ŝŶĂŶĐĞŽƐƚƐ (` in Crore) ĂďŽƵƚĂƉŽƐŝƟǀĞĐŚĂŶŐĞƚŽƚŚĞůŝǀĞƐŽĨƚŚĞƉĞŽƉůĞ͘^ƵƐƚĂŝŶĂďŝůŝƚLJ ϮϬϭϮͲϭϯ ϮϬϭϭͲϭϮ ŚĂŶŐĞй ŽĨƚŚĞŝŶƚĞƌǀĞŶƟŽŶĂŶĚŝƚƐŝŵƉĂĐƚĂƌĞďĞŝŶŐŵĞĂƐƵƌĞĚƚŚƌŽƵŐŚ Finance cost 758.16 360.04 110.58 regular third-party audits. The Company ensures community ŽǁŶĞƌƐŚŝƉŝŶĂůůŝŶŝƟĂƟǀĞƐĂŶĚŚĞůƉƐƚŽŵĂŶĂŐĞƚŚĞŵƚŚƌŽƵŐŚ dŚĞƌŝƐĞŝŶĮŶĂŶĐĞĐŽƐƚǁĂƐŽŶĂĐĐŽƵŶƚŽĨĂŶŝŶĐƌĞĂƐĞŝŶŝŶƚĞƌĞƐƚ ƐĞůĨͲƐƵƉƉŽƌƟǀĞĐŽŵŵƵŶŝƚLJͲďĂƐĞĚŝŶƐƟƚƵƟŽŶƐ͘ ƌĂƚĞƐĂŶĚĂĚĚŝƟŽŶĂůǁŽƌŬŝŶŐĐĂƉŝƚĂůĂŶĚƉƌŽũĞĐƚĐŽŵŵŝƐƐŝŽŶŝŶŐ͘ ^ZDŝƐƐŝŽŶ &ŝdžĞĚƐƐĞƚƐ (` in Crore) To improve the quality of life of the community, especially those ϮϬϭϮͲϭϯ ϮϬϭϭͲϭϮ ŚĂŶŐĞй ůŝǀŝŶŐ ŝŶ ƚŚĞ ƉĞƌŝƉŚĞƌLJ ŽĨ ďƵƐŝŶĞƐƐ ŽƉĞƌĂƟŽŶ ŽŶ Ă ƐƵƐƚĂŝŶĂďůĞ ďĂƐŝƐǁŝƚŚƚŚĞŽďũĞĐƟǀĞŽĨĂĐŚŝĞǀŝŶŐŝŶĐůƵƐŝǀĞŐƌŽǁƚŚ͘ 'ƌŽƐƐůŽĐŬ 26,703.19 22,330.05 19.58% ĞƉƌĞĐŝĂƟŽŶ 7,428.54 5,836.03 27.29% ƉƉƌŽĂĐŚ EĞƚůŽĐŬ 19,274.65 16,494.02 16.86% :^W>͛Ɛ ĂƉƉƌŽĂĐŚ ŝƐ ƚŽ ďƵŝůĚ ƐŽĐŝĂů ĐĂƉŝƚĂů ŝŶ ƚŚĞ ĐŽŵŵƵŶŝƚLJ CWIP 18,082.84 13,472.05 34.22% ďLJ ĨĂĐŝůŝƚĂƟŶŐ ŝŶǀĞƐƚŵĞŶƚƐ ŝŶ Ă ƉĂƌƚŶĞƌƐŚŝƉ ĂŶĚ ĐŽŵŵƵŶŝƚLJ ownership mode in areas of health, infrastructure development, dŚĞ ŝŶĐƌĞĂƐĞ ŝŶ ĮdžĞĚ ĂƐƐĞƚƐ ƉƌŝŵĂƌŝůLJ ƌĞƉƌĞƐĞŶƚƐ Ă ƌŝƐĞ ŝŶ ĐĂƉĂĐŝƟĞƐ ĂŶĚ ŵŽĚĞƌŶŝƐĂƟŽŶ ŽĨ ĞdžŝƐƟŶŐ ƉůĂŶƚ ĂŶĚ ŵĂĐŚŝŶĞƌLJ͘ ůŝǀĞƐƚŽĐŬ͕ ĞĚƵĐĂƟŽŶ͕ ůŝǀĞůŝŚŽŽĚ͕ ƐƉŽƌƚƐ͕ LJŽƵƚŚ ĂŶĚ ĐƵůƚƵƌĞ͕ ĂŶĚ policy. /ŶĚƵƐƚƌŝĂůƌĞůĂƟŽŶƐĂŶĚŚƵŵĂŶƌĞƐŽƵƌĐĞŵĂŶĂŐĞŵĞŶƚ͘ :^W>͛ƐďƵƐŝŶĞƐƐŽƉĞƌĂƟŽŶƐĂƌĞƐƉƌĞĂĚĂĐƌŽƐƐŵƵůƟƉůĞƐĞŐŵĞŶƚƐ ,ĞĂůƚŚ spanning diverse geographies. The Company possesses a dŚĞ ŽŵƉĂŶLJ ŚĂƐ ƵŶĚĞƌƚĂŬĞŶ ǀĂƌŝŽƵƐ ŝŶŝƟĂƟǀĞƐ ƚŽ ƌĂŝƐĞ ƚŚĞ ĚLJŶĂŵŝĐŽǀĞƌϭϱ͕ϬϬϬͲŵĞŵďĞƌƐƚƌŽŶŐƚĞĂŵǁŝƚŚĂũƵĚŝĐŝŽƵƐŵŝdž overall health standards of the people living around its plants. ŽĨLJŽƵƚŚĂŶĚĞdžƉĞƌŝĞŶĐĞ͘:^W>ŝƐƐƚƌĞŶŐƚŚĞŶŝŶŐŝƚƐŚƵŵĂŶĂƐƐĞƚƐ ^ŽĐŝŽͲĞĐŽŶŽŵŝĐ ĚŝƐĂĚǀĂŶƚĂŐĞƐ ůŝŬĞ ƉŽǀĞƌƚLJ͕ ŝůůŝƚĞƌĂĐLJ ĂŶĚ to accelerate its pace towards Vision 2020. In line with its targets ƚƌĂĚŝƟŽŶĂů ďĞůŝĞĨ ĂƉƉĂƌĞŶƚůLJ ŵĂŬĞ ŵŽĚĞƌŶ ŵĞĚŝĐĂů ĨĂĐŝůŝƟĞƐ ŽĨsŝƐŝŽŶϮϬϮϬ͕ƚŚĞŽŵƉĂŶLJŚĂƐƐĞƚƵƉĂƐƚƌĂƚĞŐŝĐďůƵĞƉƌŝŶƚƚŽ ŝŶĂĐĐĞƐƐŝďůĞƚŽŵŽƐƚǀŝůůĂŐĞƌƐ͘:^W>͛ƐŽďũĞĐƟǀĞƐŝŶĐůƵĚĞŝŵƉƌŽǀŝŶŐ ƐƚƌĞŶŐƚŚĞŶŝƚƐƉĞŽƉůĞďĂƐĞ͘/ƚŚĂƐƉƵƚĂƐƚƌŽŶŐĨŽĐƵƐŽŶ͚WĞŽƉůĞ ƚŚĞ ĂĐĐĞƐƐ ƚŽ ƋƵĂůŝƚLJ ŚĞĂůƚŚ ĂŶĚ ŝŵŵƵŶŝƐĂƟŽŶ ĨĂĐŝůŝƟĞƐ ŽĨ ƚŚĞ WĞƌƐƉĞĐƟǀĞ͛ ƚŽ ĞŶƐƵƌĞ ƚŚĂƚ ƉůĂŶƐ ŚĂǀĞ ďĞĞŶ ƉƵƚ ŝŶ ƉůĂĐĞ ƚŽ ƉĞŽƉůĞ ŽĨ ƚŚĞ ĐŽŵŵƵŶŝƟĞƐ ŝƚ ƐĞƌǀĞƐ͘ /ƚ ĂůƐŽ ĂŝŵƐ ƚŽ ĞŶƐƵƌĞ ĂĚĚƌĞƐƐŝƐƐƵĞƐƌĞŐĂƌĚŝŶŐĐĂƉĂďŝůŝƟĞƐ͕ĐƵůƚƵƌĞĂŶĚĞĸĐŝĞŶĐLJŽĨŝƚƐ ƚŚĞĂĐĐĞƐƐŽĨƚŚĞǀŝůůĂŐĞƌƐƚŽƐĂĨĞĂŶĚƉŽƌƚĂďůĞĚƌŝŶŬŝŶŐǁĂƚĞƌ͘ people. ĞƐŝĚĞƐ͕ ƚŚĞ ŽŵƉĂŶLJ ǁŽƌŬƐ ƚŽǁĂƌĚƐ ƉŽƉƵůĂƟŽŶ ƐƚĂďŝůŝƐĂƟŽŶ͕ ,/sͬ/^ ƉƌĞǀĞŶƟŽŶ ĂŶĚ ŵĂŶĂŐŝŶŐ ƚŚĞ ŝŶƚĞƌĞƐƚƐ ŽĨ ĚŝīĞƌĞŶƚůLJ dŚĞůĂƵŶĐŚŽĨ>;>ĞĂĚĞƌƐŚŝƉdžƉůŽƌĂƟŽŶŶĚĞǀĞůŽƉŵĞŶƚͿ programme in partnership with McKinsey was a unique ĂďůĞĚƉĞŽƉůĞ͘ ƉƌŽŐƌĂŵŵĞ ƚŽ ĞŶŚĂŶĐĞ ŽƌŐĂŶŝƐĂƟŽŶĂů ƉƌŽĚƵĐƟǀŝƚLJ ĂŶĚ dŚĞ ŽŵƉĂŶLJ ŝƐ ƉƌŽǀŝĚŝŶŐ ǁŽƌůĚͲĐůĂƐƐ ŚĞĂůƚŚ ĨĂĐŝůŝƟĞƐ ƚŽ ƚŚĞ ĞĸĐŝĞŶĐLJ͘dŚĞŽŵƉĂŶLJĂůƐŽůĂƵŶĐŚĞĚĂƌĞǁĂƌĚĂŶĚƌĞĐŽŐŶŝƟŽŶ ƉĞŽƉůĞ ŽĨ ZĂŝŐĂƌŚ Ăƚ ƚŚĞ ϭϬϬͲďĞĚ ŵƵůƟͲƐƉĞĐŝĂůƚLJ K͘ W͘ :ŝŶĚĂů ƉƌŽŐƌĂŵŵĞƚŽŵŽƟǀĂƚĞƚŚĞĞŵƉůŽLJĞĞƐĂŶĚƐƚƌĞŶŐƚŚĞŶĂƐĞŶƐĞ ,ŽƐƉŝƚĂů Θ ZĞƐĞĂƌĐŚ ĞŶƚƌĞ͘ dŚĞ ĨĂĐŝůŝƟĞƐ ŝŶĐůƵĚĞ ŵĞĚŝĐŝŶĞ͕ of ownership among them. surgery, gynaecology, orthopaedics and paediatrics. The hospital

114 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Management Discussion and Analysis

ŚĂƐĨŽƵƌǁĞůůͲĞƋƵŝƉƉĞĚŽƉĞƌĂƟŽŶƚŚĞĂƚƌĞƐ͕ĂĐĂƌĚŝĂĐ/h͕ĂďƵƌŶ  ĂŶĐŚĂůͬsĂƚƐĂůLJĂWƌŽŐƌĂŵŵĞʹĂƉƌŽŐƌĂŵŵĞĚĞĚŝĐĂƚĞĚƚŽ /h ĂŶĚ Ă ŶĞŽͲŶĂƚĂů /h͘ DŽďŝůĞ ŵĞĚŝĐĂů ƵŶŝƚƐ ǁŝƚŚ ƋƵĂůŝĮĞĚ mother and child care for reducing the Infant Mortality Rate medical professionals regularly visit the villages around the ΘDĂƚĞƌŶĂůDŽƌƚĂůŝƚLJZĂƚĞʹďĞŶĞĮƚĞĚϰϬ͕ϬϬϬǁŽŵĞŶ͘ ĨĂĐƚŽƌŝĞƐĂŶĚŵŝŶĞƐƚŽƉƌŽǀŝĚĞĞƐƐĞŶƟĂůŚĞĂůƚŚĐĂƌĞƐĞƌǀŝĐĞƐ͕ŽŶͲ  hŶĚĞƌsĂƚƐĂůLJĂ͕ƐĞŶƐŝƟƐĂƟŽŶŽĨϵ͕ϯϱϬǁŽŵĞŶŽŶĚŝīĞƌĞŶƚ ƚŚĞͲƐƉŽƚĚŝĂŐŶŽƐƟĐ͕ĐƵƌĂƟǀĞĐůŝŶŝĐĂůĨĂĐŝůŝƟĞƐĂŶĚĨƌĞĞŵĞĚŝĐŝŶĞƐ͘ ŚĞĂůƚŚŝƐƐƵĞƐĂŶĚϯϱϬƌĞƉƌŽĚƵĐƟǀĞƚƌĂĐƚŝŶĨĞĐƟŽŶƐͬƐĞdžƵĂů ƚƌĂĐƚ ŝŶĨĞĐƟŽŶ ĐĂƐĞƐ ǁĞƌĞ ŝĚĞŶƟĮĞĚ ĂŶĚ ƌĞĨĞƌƌĞĚ ĨŽƌ <ĞLJĐƟǀŝƟĞƐŝŶϮϬϭϮͲϭϯ ĨƵƌƚŚĞƌƚƌĞĂƚŵĞŶƚ͘ƐŵĂŶLJĂƐϰϬϭŵĞĞƟŶŐƐǁĞƌĞŚĞůĚǁŝƚŚ  ^,͕dŚĞ,ŽƉĞ;ĨŽƌĚŝīĞƌĞŶƚůLJĂďůĞĚĂŶĚĂƵƟƐƟĐĐŚŝůĚƌĞŶͿ adolescent girls, which inspired 15 drop-out girls to restart ǁŝƚŶĞƐƐĞĚϮϴ͕ϮϮϰKWĂƩĞŶĚĂŶĐĞĂŶĚϯϭϳƌĞĨĞƌƌĂůŵĞĚŝĐĂů ƚŚĞŝƌĞĚƵĐĂƟŽŶ͘ services. It organised 70 parents counselling sessions and  dŚĞǀŝůůĂŐĞŚĞĂůƚŚǀŽůƵŶƚĞĞƌƐ;s,sƐͿĂƩĞŶĚĞĚϮϬϴƉĂŶĐŚĂLJĂƚ ϭϱϬĐŽŵŵƵŶŝƚLJͲďĂƐĞĚƌĞŚĂďŝůŝƚĂƟŽŶƉƌŽŐƌĂŵŵĞƐ͘ ŵĞĞƟŶŐƐŝŶϮϬϭϭͲϭϮ͘ƐĂƌĞƐƵůƚŽĨƚŚŝƐ͕ϮϱW>ĐĂƌĚƐ͕ϭϮ  dŚĞƌĞŚĂǀĞďĞĞŶĂŶƵŵďĞƌŽĨďĞŶĞĮĐŝĂƌŝĞƐƵŶĚĞƌǀĂƌŝŽƵƐ ĚƌŝŶŬŝŶŐǁĂƚĞƌƌĞůĂƚĞĚƉƌŽďůĞŵƐ͕ϭϬǁŝĚŽǁƉĞŶƐŝŽŶƐĂŶĚ ƐĞƌǀŝĐĞƐͬĂĐƟǀŝƟĞƐ͘dŚĞƐĞŝŶĐůƵĚĞƚŚĞĨŽůůŽǁŝŶŐ͗ ƐŝdžŝŶĨƌĂĚĞǀĞůŽƉŵĞŶƚƌĞůĂƚĞĚǁŽƌŬƐǁĞƌĞŝŶŝƟĂƚĞĚďLJƚŚĞ village panchayat.  WŚLJƐŝŽƚŚĞƌĂƉLJĂŶĚŽĐĐƵƉĂƟŽŶĂůƚŚĞƌĂƉLJͲϴ͕ϲϯϯ  dŚĞ ŽŵƉĂŶLJ ŽƌŐĂŶŝƐĞĚ ϯϱϱ ǀĂĐĐŝŶĂƟŽŶ ĐĂŵƉƐ ǁŚĞƌĞ  ^ƉĞĐŝĂůĞĚƵĐĂƟŽŶĨŽƌƚŚĞŚĞĂƌŝŶŐŝŵƉĂŝƌĞĚͲϯ͕ϯϱϬ 2,162 children were vaccinated.  ^ƉĞĐŝĂůĞĚƵĐĂƟŽŶĨŽƌƚŚĞŵĞŶƚĂůůLJƌĞƚĂƌĚĞĚͲϳ͕Ϭϵϲ  dŚĞ ŽŵƉĂŶLJ ĂĐƟǀĞůLJ ƐƵƉƉŽƌƚĞĚ ƚŚĞ 'ŽǀĞƌŶŵĞŶƚ͛Ɛ ƉƵůƐĞ ƉŽůŝŽ ĞƌĂĚŝĐĂƟŽŶ ƉƌŽŐƌĂŵŵĞ ĂŶĚ ŵĂůŶƵƚƌŝƟŽŶ  ^ƉĞĐŝĂůĞĚƵĐĂƟŽŶĨŽƌƚŚĞǀŝƐƵĂůůLJŝŵƉĂŝƌĞĚͲϭ͕Ϯϲϭ ŵĂŶĂŐĞŵĞŶƚĐĂŵƉĂŝŐŶ͘/ƚƉĂƌƟĐŝƉĂƚĞĚŝŶƚŚĞƉƌŽŐƌĂŵŵĞ  sŽĐĂƟŽŶĂůƚƌĂŝŶŝŶŐͲϭ͕ϰϭϮ ĂĐƟǀĞůLJ͕ŚĞůƉĞĚƚŽŝĚĞŶƟĨLJƚĂƌŐĞƚďĞŶĞĮĐŝĂƌŝĞƐĂŶĚĂƐƐŝƐƚĞĚ ƚŚĞŵƚŽƌĞĂĐŚƚŚĞƚŚ͘ Music/Dance/Yoga- 5,885 /ŶĨƌĂƐƚƌƵĐƚƵƌĞĞǀĞůŽƉŵĞŶƚ  KƵƚƌĞĂĐŚZƉƌŽŐƌĂŵŵĞͲϭϱϬ dŚĞ ŽŵƉĂŶLJ ĂŝŵƐ ƚŽ ƉůĂLJ Ă ƐŝŐŶŝĮĐĂŶƚ ƌŽůĞ ŝŶ ŚĞůƉŝŶŐ ƌĞĚƵĐĞ Referral medical services at FOPJHRC- 379 /ŶĚŝĂ͛Ɛ ƌƵƌĂůͲƵƌďĂŶ ĚŝǀŝĚĞ ďLJ ĞŶŚĂŶĐŝŶŐ ĂĐĐĞƐƐ ŽĨ ƉĞŽƉůĞ ƚŽ ŵŽĚĞƌŶĂŵĞŶŝƟĞƐĂŶĚŝŵƉƌŽǀŝŶŐƐƵƌƌŽƵŶĚŝŶŐƐ͘dŚĞŽďũĞĐƟǀĞŝƐ  ŝƐƚƌŝďƵƟŽŶŽĨĂƐƐŝƐƟǀĞĂŶĚĂĚĂƉƟǀĞĚĞǀŝĐĞƐͲϵϵ ƚŽƌĂŝƐĞƚŚĞŽǀĞƌĂůůƋƵĂůŝƚLJŽĨůŝĨĞ͘ĂƐLJĂĐĐĞƐƐƚŽŵŽĚĞƌŶĂŵĞŶŝƟĞƐ  ŝƐƚƌŝďƵƟŽŶ ŽĨ ĚŝƐĂďŝůŝƚLJ ĐĞƌƟĮĐĂƚĞƐ ďLJ ƚŚĞ DĞĚŝĐĂů and improved surroundings will help to reduce this divide. The ŽĂƌĚͲϮϭ ŽŵƉĂŶLJ ŝƐ ƵŶĚĞƌƚĂŬŝŶŐ ĞīŽƌƚƐ ƚŽ ĐƌĞĂƚĞ ƐƚƌŽŶŐ ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ƚŚĂƚ ǁŝůů ŵĞĞƚ ƚŚĞ ƌĞƋƵŝƌĞŵĞŶƚƐ ŽĨ ƌƵƌĂů ĐŽŵŵƵŶŝƟĞƐ ĂƌŽƵŶĚ  ƵƌŝŶŐ ƚŚĞ ƉĂƐƚ LJĞĂƌ͕ ϭϭϴ ĐƌŝƟĐĂů ĐĂƐĞƐ ǁĞƌĞ ƚƌĞĂƚĞĚ ǁŽƌŬƐ͕ƉƌŽũĞĐƚƐĂŶĚŵŝŶĞƐ͕ǁŚŝĐŚǁŝůůĞŶĂďůĞƚŚĞŵƚŽůŝǀĞŝŶĐůĞĂŶ ĞĸĐŝĞŶƚůLJ Ăƚ &ŽƌƟƐ͘ dŚĞƐĞ ŝŶĐůƵĚĞĚ ƚƌĞĂƚŵĞŶƚ ĨŽƌ ďƵƌŶƐ͕ ĂŶĚŝŵƉƌŽǀĞĚƐƵƌƌŽƵŶĚŝŶŐƐĐŽŵƉůĞƚĞǁŝƚŚƚŚĞďĂƐŝĐĂŵĞŶŝƟĞƐ͘ ĂĐĐŝĚĞŶƚĂůĐĂƐĞƐ͕EdĐĂƐĞƐ͕KW͕ǁŚŝĐŚƵŶĚĞƌƚŽŽŬĚŝĂůLJƐŝƐ <ĞLJĐƟǀŝƟĞƐŝŶϮϬϭϮͲϭϯ ŽĨϭϲϳƉĂƟĞŶƚƐ͘ĞƐŝĚĞƐ͕ŽŶĞŽƉĞŶŚĞĂƌƚƐƵƌŐĞƌLJĂŶĚŽŶĞ ŬŶĞĞƌĞƉůĂĐĞŵĞŶƚǁĞƌĞĂůƐŽƉĞƌĨŽƌŵĞĚ͘ ^ŽŵĞŽĨƚŚĞŬĞLJĂĐƟǀŝƟĞƐŽĨƚŚĞŽŵƉĂŶLJĚƵƌŝŶŐϮϬϭϮͲϭϯŚĂǀĞ ďĞĞŶĚŝƐĐƵƐƐĞĚďĞůŽǁ͘ Major health camps were organised to address health issues of the people of the community.  /ŶƐƚĂůůĞĚͬZĞƉĂŝƌĞĚ ϭ͕ϱϬϬ ďŽƌĞͲǁĞůůƐͬ ƐƵďŵĞƌƐŝďůĞ ƉƵŵƉƐ ŝŶĐůƵĚŝŶŐWsƉŝƉĞƐƚŽƉƌŽǀŝĚĞĐůĞĂŶĚƌŝŶŬŝŶŐǁĂƚĞƌ͕ƚŚĞƌĞďLJ  dŚĞ ŽŵƉĂŶLJ ĂůƐŽ ĐŽŶĚƵĐƚĞĚ ŚĞĂůƚŚ ĐŚĞĐŬͲƵƉƐ͕ ǁŚŝĐŚ ďĞŶĞĮƟŶŐĂƌŽƵŶĚϮϱ͕ϬϬϬƉĞŽƉůĞ ŝŶĐůƵĚĞĚĞLJĞĐŚĞĐŬͲƵƉ;ϰϰϱďĞŶĞĮĐŝĂƌŝĞƐͿďůŽŽĚĚŽŶĂƟŽŶ  WƌŽǀŝĚĞĚĞůĞĐƚƌŝĮĐĂƟŽŶĂŶĚƚƌĂŶƐĨŽƌŵĞƌƐƚŽϭϬǀŝůůĂŐĞƐ ĐĂŵƉ;ϰϳϬƵŶŝƚƐŽĨďůŽŽĚĐŽůůĞĐƚĞĚͿŶĂĞŵŝĂĂŵƉƐ;ϭϴϬ  ŽŶƐƚƌƵĐƚĞĚ ϲϬ Ŭŵ ŽĨ ƌŽĂĚƐ ĂƐ ǁĞůů ĂƐ ƐĐŚŽŽů ďŽƵŶĚĂƌLJ ŐŝƌůƐĞdžĂŵŝŶĞĚͿ͕Ă>ddͬE^sdĐĂŵƉ͕ĚĞŶƚĂůĐŚĞĐŬͲƵƉ͕ŵĂůĂƌŝĂ walls ĂǁĂƌĞŶĞƐƐ ĂŶĚ ƉƌĞǀĞŶƟŽŶ ĐĂŵƉ ĂŶĚ ƐŽ ŽŶ͘ ĞƐŝĚĞƐ͕  ƵŐĂŶĚĐůĞĂŶĞĚƉŽŶĚƐĂŶĚŝŶƐƚĂůůĞĚďĂƌďĞĚǁŝƌĞĨĞŶĐŝŶŐ programmes were also organised to drive awareness ĂƌŽƵŶĚƚŚĞŵ͖ĂůƐŽĐŽŶƐƚƌƵĐƚĞĚĚƌĂŝŶƐ ĂďŽƵƚŵĂůŶƵƚƌŝƟŽŶ͕ŽīĞƌĐŽƵŶƐĞůůŝŶŐĨŽƌ,/sͬ/^;Ϯϭ͕ϲϬϮ  ŽŶƐƚƌƵĐƚĞĚ ĂƐ ŵĂŶLJ ĂƐ ϭϱϬ ǀŽĐĂƟŽŶĂů ƚƌĂŝŶŝŶŐ ĐĞŶƚƌĞƐ͕ people covered) and provide advices on family planning. ĐŽŵŵƵŶŝƚLJ ŚĂůůƐ͕ ďƵƐ ƐƚŽƉƐ͕ ƉůĂĐĞƐ ŽĨ ǁŽƌƐŚŝƉ͕ ĐƵůƚƵƌĂů dŚĞŽŵƉĂŶLJĂůƐŽĚŽŶĂƚĞĚϭϮĂŵďƵůĂŶĐĞƐƚŽƚŚĞĚŝƐƚƌŝĐƚ ƐƚĂŐĞƐ͕ďŽdžĐƵůǀĞƌƚƐ͕ŐLJŵŚĂůůƐ͕ǀĞƚĞƌŝŶĂƌLJŚŽƐƉŝƚĂůďƵŝůĚŝŶŐƐ ĂĚŵŝŶŝƐƚƌĂƟŽŶĨŽƌĂĚĚƌĞƐƐŝŶŐŵĞĚŝĐĂůĞŵĞƌŐĞŶĐŝĞƐͬŵĞĚŝĐĂů and so on ŶĞĞĚƐŽĨƚŚĞůŽĐĂůƉŽƉƵůĂƟŽŶ͘DĞŐĂ^ƉĞĐŝĂůŝƐƚ,ĞĂůƚŚĂŵƉƐ Landscaped and managed natural environment and ǁĞƌĞ ŽƌŐĂŶŝƐĞĚ ŝŶ ĐŽůůĂďŽƌĂƟŽŶ ǁŝƚŚ ŽĐĐƵƉĂƟŽŶĂů ŚĞĂůƚŚ ƵƉŐƌĂĚĞĚ ĐŝǀŝĐ ĂŵĞŶŝƟĞƐ ďLJ ďƌŝĚŐŝŶŐ ƚŚĞ ŐĂƉƐ ďĞƚǁĞĞŶ ĐĞŶƚƌĞ;K,ͿĂŶĚƉŽůůŽŚƵďĂŶĞƐŚǁĂƌ͘dŚĞĂŵďƵůĂŶĐĞƐ ĐƌŝƟĐĂůŝŶĨƌĂƐƚƌƵĐƚƵƌĞƐ ĚŽŶĂƚĞĚďLJƚŚĞŽŵƉĂŶLJĂůƐŽŽīĞƌĞĚDŽďŝůĞŝƐƉĞŶƐĂƌŝĞƐ  ŝƐƚƌŝďƵƚĞĚϲϭ͘ϮƚŽŶŶĞƐŽĨƐĐƌĂƉǁŽŽĚĂŵŽŶŐĂŶŐĂŶǁĂĚŝƐ͕ ĂŶĚ DŽďŝůŝƚLJ ^ƵƉƉŽƌƚ ĨŽƌ ƉƌĞŐŶĂŶƚ ǁŽŵĞŶ ĂŶĚ ŽƚŚĞƌ ƐĐŚŽŽůƐ ĂŶĚ ǀŝůůĂŐĞƐ ĨŽƌ  ĐŽŽŬŝŶŐ ŵŝĚͲĚĂLJ ŵĞĂů͕ ƚŚƵƐ ƉĂƟĞŶƚƐ͘ƐŵĂŶLJĂƐϭ͘ϱůĂĐƉĞŽƉůĞǁĞƌĞďĞŶĞĮƚĞĚĨƌŽŵ ŝŶĐƌĞĂƐŝŶŐƐƚƵĚĞŶƚƐ͛ĂƩĞŶĚĂŶĐĞďLJĂƌŽƵŶĚϰϬй ƚŚĞƐĞŝŶŝƟĂƟǀĞƐ͘  &ƵŶĚĞĚƚŚĞĐŽŶƐƚƌƵĐƟŽŶŽĨϯϬϬŝŶĚŝǀŝĚƵĂůƚŽŝůĞƚƐ

115 Annual Report 2012-13 >ŝǀĞƐƚŽĐŬ DĂũŽƌŝƚLJ ŽĨ /ŶĚŝĂ͛Ɛ ƉŽƉƵůĂƟŽŶ ůŝǀĞƐ ŝŶ ƚŚĞ ǀŝůůĂŐĞƐ͘ >ŝǀĞƐƚŽĐŬ ƉůĂLJƐ Ă ƐŝŐŶŝĮĐĂŶƚ ƌŽůĞ ŝŶ ƌƵƌĂů ĚĞǀĞůŽƉŵĞŶƚ ĂŶĚ ƉƌŽǀŝĚĞƐ ƚŚĞ farmers an alternate source of income apart from the food ŐƌĂŝŶƐ͘ ^ĞǀĞƌĂů ĨĂƌŵĞƌƐ ŽĨ ƚŚĞ ĐŽƵŶƚƌLJ ŵĂŶĂŐĞ ůŝǀĞƐƚŽĐŬ ĂŶĚ are heavily dependent on it. During the year under review, the ŽŵƉĂŶLJƉƌŽŵŽƚĞĚƚŚĞĚĞǀĞůŽƉŵĞŶƚŽĨůŝǀĞƐƚŽĐŬŝŶŝƚƐŽƉĞƌĂƟŶŐ ĂƌĞĂƐ͘^ŽŵĞŽĨƚŚĞŝŶŝƟĂƟǀĞƐƵŶĚĞƌƚĂŬĞŶƚŽƉƌŽŵŽƚĞůŝǀĞƐƚŽĐŬ ĚĞǀĞůŽƉŵĞŶƚŚĂǀĞďĞĞŶĚŝƐĐƵƐƐĞĚďĞůŽǁ͘ KƌŐĂŶŝƐĞĚϭϯǀĞƚĞƌŝŶĂƌLJŚĞĂůƚŚĐĂŵƉƐĨŽƌůŝǀĞƐƚŽĐŬŝŶƚŚĞ ŽƉĞƌĂƟŶŐ ĂƌĞĂƐ͖ ĞŶƐƵƌĞĚ ƌĞŐƵůĂƌ ǀŝƐŝƚƐ ŽĨ ƚŚĞ ĚŽĐƚŽƌƐ ƚŽ ƉƌŽǀŝĚĞ ĨƌĞĞ ŚĞĂůƚŚ ĐŚĞĐŬͲƵƉ ĂŶĚ ƚƌĞĂƚŵĞŶƚ ƚŽ ĂŶŝŵĂůƐ͘ Free medicines were also provided in the camp  ,ĞůĚ ǀĂĐĐŝŶĂƟŽŶ ĚƌŝǀĞƐ ƚŽ ƉƌĞǀĞŶƚ ZĂŶŝŬŚĞƚ ĚŝƐĞĂƐĞ ĂŶĚ ŽƚŚĞƌĂŝůŵĞŶƚƐĨƌŽŵĂīĞĐƟŶŐƉŽƵůƚƌLJďŝƌĚƐ  /ŶƐƚĂůůĞĚ Ϯϱ dƌĂǀŝƐ ŝŶ Ϯϱ ǀŝůůĂŐĞƐ ƚŽ ŝŶŝƟĂƚĞ ĂƌƟĮĐŝĂů ŝŶƐĞŵŝŶĂƟŽŶ  ƐƚĂďůŝƐŚĞĚ ĚĂŝƌLJ ĨĂƌŵƐ Ăƚ ǀĂƌŝŽƵƐ ůŽĐĂƟŽŶƐ ǁŚĞƌĞ ϭ͕ϯϱϬ ĐŽǁƐŚĂĚďĞĞŶĂďůĞƚŽƉƌŽĚƵĐĞĂƌŽƵŶĚϰ͕ϯϬϬůŝƚƌĞƐŽĨŵŝůŬ ƉĞƌĚĂLJ͘dŚĞƐĂŵĞŝƐďĞŝŶŐĞdžƉĂŶĚĞĚĂŶĚŵŝůŬĐŽůůĞĐƟŽŶ ĐĞŶƚƌĞƐͬĨŽƌĂŐĞ ĚŝƐƚƌŝďƵƟŽŶ ĐĞŶƚƌĞƐͬǀĞƚĞƌŝŶĂƌLJ ĐĞŶƚƌĞƐ ĂƌĞ ŝŶ ƚŚĞ ƉƌŽĐĞƐƐ ŽĨ ďĞŝŶŐ ĞƐƚĂďůŝƐŚĞĚ ŝŶ ǀĂƌŝŽƵƐ ǀŝůůĂŐĞƐ ƚŽ ŝŶĐƌĞĂƐĞƉƌŽĚƵĐƟŽŶͬĐŽůůĞĐƟŽŶ Propagated poultry/goat and sheep rearing through farms, which have around 4,500 poultry, 1,500 goats, 430 sheep ĂŶĚϭϮϬŽƚŚĞƌůŝǀĞƐƚŽĐŬ ĚƵĐĂƟŽŶ dŚĞ ŽŵƉĂŶLJ ŝƐ ŽƉĞƌĂƟŶŐ K͘ W͘ :ŝŶĚĂů ^ĐŚŽŽůƐ͕ ǁŚŝĐŚ ŚĂǀĞ /ŵƉĂƌƟŶŐ ĞĚƵĐĂƟŽŶ ƚŽ ĐŚŝůĚƌĞŶ ĂŶĚ ĂĚƵůƚƐ ĨƌŽŵ ƚŚĞ ůŽĐĂů ĐƌĞĂƚĞĚ Ă ĐŽŵƉĞƟƟǀĞ ůĞĂƌŶŝŶŐ ĂƚŵŽƐƉŚĞƌĞ͘ dŚĞƐĞ ŚĞůƉĞĚ ƚŽ ĐŽŵŵƵŶŝƟĞƐ ĨŽƌŵƐ Ă ŵĂũŽƌ ƉĂƌƚ ŽĨ :^W>͛Ɛ ^Z ĂĐƟǀŝƟĞƐ͘ dŚĞ ŽŵƉĂŶLJ ďĞůŝĞǀĞƐ ƚŚĂƚ ŚŝŐŚ ƋƵĂůŝƚLJ ĞĚƵĐĂƟŽŶ ŝƐ ƉŝǀŽƚĂů ƚŽ ĂůůͲ ĚĞǀĞůŽƉĂŬĞĞŶŝŶƚĞƌĞƐƚĨŽƌŚŝŐŚĞƌĞĚƵĐĂƟŽŶĂŵŽŶŐƚŚĞƐƚƵĚĞŶƚƐ͘ ƌŽƵŶĚĚĞǀĞůŽƉŵĞŶƚĂŶĚ͕ŝŶƚƵƌŶ͕ƉůĂLJƐĂƐŝŐŶŝĮĐĂŶƚƌŽůĞŝŶŶĂƟŽŶ At present, 8,765 students are enrolled in these schools. ďƵŝůĚŝŶŐ͘ dŽ ƐƉƌĞĂĚ ĞĚƵĐĂƟŽŶ ĂŶĚ ŚĞůƉ ƚƌĂŶƐĨŽƌŵ ůŝǀĞƐ͕ ƚŚĞ During the year under review, the Company provided rewards ŽŵƉĂŶLJĞƐƚĂďůŝƐŚĞĚǀŽĐĂƟŽŶĂůƚƌĂŝŶŝŶŐŝŶƐƟƚƵƟŽŶƐƵŶĚĞƌƚŚĞ ĂŶĚ ƌĞĐŽŐŶŝƟŽŶ ĂƐ ǁĞůů ĂƐ ƐĐŚŽůĂƌƐŚŝƉƐ ŽĨ ` 70 lacs to 475 ďĂŶŶĞƌŽĨK͘W͘:ŝŶĚĂůŽŵŵƵŶŝƚLJŽůůĞŐĞƐ;KW:ͿĂƚŶŐƵůĂŶĚ meritorious students. It also provided an access to technology Ăƌďŝů;KĚŝƐŚĂͿ͕'ŽĚĚĂĂŶĚWĂƚƌĂƚƵ;:ŚĂƌŬŚĂŶĚͿ͕ĂŶĚWƵŶũŝƉĂƚŚƌĂ ƚŚƌŽƵŐŚ ĐŽŶƐƚƌƵĐƟŽŶ ŽĨ ĐŽŵƉƵƚĞƌ ůĂďƐ ;Ϯ͕ϬϬϬ ƐƚƵĚĞŶƚƐ ;ŚŚĂƫƐŐĂƌŚͿ͘ dŚĞ ŝŶƐƟƚƵƟŽŶ ŝŵƉĂƌƚƐ ƚƌĂŝŶŝŶŐ ŽŶ ǀĂƌŝŽƵƐ ǀŽĐĂƟŽŶƐ͕ŝŶĐůƵĚŝŶŐƉůƵŵďŝŶŐ͕ǁĞůĚŝŶŐ͕ŵĂƐŽŶƌLJ͕ĂŝƌĐŽŶĚŝƟŽŶŝŶŐ ďĞŶĞĮƚĞĚͿ͘ĞƐŝĚĞƐ͕ƚŚĞŽŵƉĂŶLJŽƉĞŶĞĚƐĞǀĞŶĐĞŶƚƌĞƐƚŽƚĞĂĐŚ ĂŶĚ ƌĞĨƌŝŐĞƌĂƟŽŶ͕ ĞůĞĐƚƌŽŶŝĐƐ͕ ĞůĞĐƚƌŝĐĂů ǁŝƌŝŶŐ ;ŝŶĚƵƐƚƌŝĂů ĐŽŵŵƵŶŝĐĂƟǀĞ ŶŐůŝƐŚ ;ϯϬϬ ƐƚƵĚĞŶƚƐ ďĞŶĞĮƚĞĚͿ͘ /ƚ ĂƉƉŽŝŶƚĞĚ ĂŶĚ ŚŽŵĞͿ͕ ĂŶĚ ŵĂŶƵĨĂĐƚƵƌŝŶŐ ĂŶĚ ŵĞƚĂůůƵƌŐLJ͘ EƵƌƐŝŶŐ ĂŶĚ around 300 community teachers, provided grants for school ƉĂƌĂŵĞĚŝĐĂůƉƌŽŐƌĂŵŵĞƐĂƐǁĞůůĂƐŚŽƐƉŝƚĂůŝƚLJŚĂǀĞďĞĞŶĂĚĚĞĚ ĚĞǀĞůŽƉŵĞŶƚĂŶĚĐŽŶĚƵĐƚĞĚĞĚƵĐĂƟŽŶƉƌŽŐƌĂŵŵĞƐĨŽƌĞůĚĞƌůLJ as new courses. OPJCC also operates four Industrial Training women. /ŶƐƟƚƵƚĞƐ;/d/ƐͿƚŚĂƚŚĂǀĞďĞĞŶĂĚŽƉƚĞĚƵŶĚĞƌƚŚĞ'ŽǀĞƌŶŵĞŶƚ >ŝǀĞůŝŚŽŽĚ ŽĨ/ŶĚŝĂ͛ƐWƵďůŝĐWƌŝǀĂƚĞWĂƌƚŶĞƌƐŚŝƉ;WWWͿ^ĐŚĞŵĞ͘ƉƉƌŽdžŝŵĂƚĞůLJ 8,000 students completed training during the last year and 70% /ŶƚŚĞĮĞůĚŽĨůŝǀĞƐƚŽĐŬŵĂŝŶƚĞŶĂŶĐĞ͕ƚŚĞŽŵƉĂŶLJĨŽĐƵƐĞĚŽŶ were given placements ŝŶƐƟƚƵƟŽŶďƵŝůĚŝŶŐĂƚƚŚĞŐƌĂƐƐƌŽŽƚƐƚŽƉƌŽŵŽƚĞĞŶƚƌĞƉƌĞŶĞƵƌŝĂů ĐĂƉĂĐŝƟĞƐ͘/ƚŚĞůƉĞĚŝŶƚŚĞĨŽƌŵĂƟŽŶŽĨ^ĞůĨ,ĞůƉ'ƌŽƵƉƐ;^,'ƐͿ dŚĞ K͘W͘ :ŝŶĚĂů /ŶƐƟƚƵƚĞ ŽĨ dĞĐŚŶŽůŽŐLJ ;KW:/dͿ Ăƚ ZĂŝŐĂƌŚ ŽīĞƌƐ ĨŽƵƌͲLJĞĂƌ ƵŶĚĞƌŐƌĂĚƵĂƚĞ ĞŶŐŝŶĞĞƌŝŶŐ ƉƌŽŐƌĂŵŵĞƐ ŝŶ ŝŶ ƚŚĞ ĐŽŵŵƵŶŝƟĞƐ ĂŶĚ ƚƌĂŝŶĞĚ ƚŚĞŵ ŽŶ ƚŚĞ ďĂƐŝĐƐ ŽĨ ŵŝĐƌŽͲ mechanical, electrical, electronics, civil and metallurgy courses. ĞŶƚĞƌƉƌŝƐĞ͘ dŚĞ ŽƚŚĞƌ ƉĂƌƚ ƌĞůĂƚĞƐ ƚŽ ŝŵƉĂƌƟŶŐ Ă ŵƵůƟƚƵĚĞ ŽĨ During the previous year, 88% of the 204 students were recruited ǀŽĐĂƟŽŶĂůƐŬŝůůƐĨŽƌďĞƩĞƌĞŵƉůŽLJĂďŝůŝƚLJĂƚŝŶĚŝǀŝĚƵĂůůĞǀĞůƐ͘ ďLJĚŝīĞƌĞŶƚĐŽŵƉĂŶŝĞƐ ƵƌŝŶŐ ƚŚĞ LJĞĂƌ ƵŶĚĞƌ ƌĞǀŝĞǁ͕ ƚŚĞ ŽŵƉĂŶLJ ŽƌŐĂŶŝƐĞĚ ƐŬŝůů dŚĞŽŵƉĂŶLJĂůƐŽƌƵŶƐƚŚĞ:ŝŶĚĂů/ŶƐƟƚƵƚĞŽĨWŽǁĞƌdĞĐŚŶŽůŽŐLJ ƵƉŐƌĂĚĂƟŽŶ ŽĨ LJŽƵƚŚ ĂŶĚ ǁŽŵĞŶ͘ /ƚ ĂůƐŽ ƉƌŽŵŽƚĞĚ ŝŶĐŽŵĞ ;:/WdͿĂƚdĂŵŶĂƌ͕ǁŚŝĐŚƚƌĂŝŶƐƐƚƵĚĞŶƚƐƚŽƵŶĚĞƌƚĂŬĞŽƉĞƌĂƟŽŶŽƌ ŐĞŶĞƌĂƟŽŶ ĂĐƟǀŝƟĞƐ ďLJ ŝŵƉĂƌƟŶŐ ƚƌĂŝŶŝŶŐ ŽŶ ĂƉƉĂƌĞů ŵĂŬŝŶŐ ŵĂŝŶƚĞŶĂŶĐĞŽĨĂƉŽǁĞƌƉůĂŶƚŽĨϭϬϬDtĂŶĚĂďŽǀĞĐĂƉĂĐŝƚLJ͘KĨ ĂŶĚ ĚĞƐŝŐŶŝŶŐ͕ ŵƵƐŚƌŽŽŵ ĐƵůƟǀĂƟŽŶ͕ ŵŝdžƚƵƌĞ ŵĂŬŝŶŐ͕ ƉŽƚĂƚŽ the 132 students last year, 76% were given placement. ĐŚŝƉƐͬƉĂƉĂĚ ŵĂŬŝŶŐ͕ ŵŽďŝůĞ ƉŚŽŶĞƐͬƌĞĨƌŝŐĞƌĂƚŽƌͬĂŝƌͲĐŽŶĚŝƟŽŶ

116 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Management Discussion and Analysis

ƌĞƉĂŝƌŝŶŐ͘ĞƐŝĚĞƐ͕ƚŚĞŽŵƉĂŶLJĂůƐŽƐƵƉƉŽƌƚĞĚƚŚĞŝŶĚŝǀŝĚƵĂůƐ ŽŵƉĂŶLJ ĂůƐŽ ƉƌŽǀŝĚĞĚ ƐƉŽƌƚƐ ĂĐĐĞƐƐŽƌŝĞƐ ůŝŬĞ ƐƉŽƌƚƐ ŬŝƚƐ ĂŶĚ ĮŶĂŶĐŝĂůůLJƚŽŚĞůƉƚŚĞŵƌƵŶƚŚĞƐĞďƵƐŝŶĞƐƐĂĐƟǀŝƟĞƐ͘ ƵŶŝĨŽƌŵƐƚŽƚŚĞƉůĂLJĞƌƐŽĨŶĞĂƌďLJĂƌĞĂƐ͘ĞƐŝĚĞƐ͕ŝƚĂůƐŽŐƵŝĚĞĚ the local players with diet support, organised summer camps for <ĞLJĐƟǀŝƟĞƐŝŶϮϬϭϮͲϭϯ ŬŝĚƐ͕ĐŽŶƐƚƌƵĐƚĞĚŵƵůƟͲŐLJŵŶĂƐŝƵŵĂŶĚĚŽŶĂƚĞĚŶĞǁĞƋƵŝƉŵĞŶƚ͘ Helped form 283 SHGs involving around 3,500 women dŚĞ ŽŵƉĂŶLJ ĂůƐŽ ƉƌŽǀŝĚĞĚ ĐŽĂĐŚŝŶŐ ĨĂĐŝůŝƟĞƐ ĨŽƌ ŶƵƌƚƵƌŝŶŐ ŐĞŶĞƌĂƚĞĂŶŝŶĐŽŵĞŽĨĂďŽƵƚϭ͘ϯͲϭ͘ϱĐƌŽƌĞďLJĞŶŐĂŐŝŶŐƚŚĞŵ LJŽƵŶŐ ƚĂůĞŶƚ ĂŶĚ ĂƐƐŝƐƚĞĚ ŝŶ ƚŚĞ ĨŽƌŵĂƟŽŶ ŽĨ LJŽƵƚŚ ƐƉŽƌƚƐͬ ŝŶŝŶĐŽŵĞŐĞŶĞƌĂƟŽŶĂĐƟǀŝƟĞƐůŝŬĞŽƌŐĂŶŝĐŚĞƌďĂůďŽĚLJĐĂƌĞ ĐƵůƚƵƌĂůĐůƵďƐ͘:^W>ĂůƐŽƉƌŽǀŝĚĞĚĮŶĂŶĐŝĂůĂƐƐŝƐƚĂŶĐĞƚŽŽƌŐĂŶŝƐĞ ƉƌŽĚƵĐƚƐ ŵĂŶƵĨĂĐƚƵƌŝŶŐ͕ ũƵƚĞ ƉƌŽĚƵĐƚ ŵĂŬŝŶŐ͕ ǀĞŐĞƚĂďůĞ ƐƚĂƚĞͲůĞǀĞů ƐƉŽƌƚƐ ĐŽŵƉĞƟƟŽŶƐ ĂŶĚ ĐƵůƚƵƌĂů ƉƌŽŐƌĂŵŵĞƐ͘ /ƚ ĐƵůƟǀĂƟŽŶ͕ĨŽŽĚƉƌŽĐĞƐƐŝŶŐ͕ŵƵƐŚƌŽŽŵĐƵůƟǀĂƟŽŶ͕ƉŽƵůƚƌLJ ŚĞůƉĞĚƚŽŝŶĐƌĞĂƐĞƉĂƌƟĐŝƉĂƟŽŶŝŶŬĂůĂƐĂŶŐĂŵ͕ĂŶĞŶĚĞĂǀŽƵƌƚŽ and dairy farm, ĚŽŶĂƉĂƩĂůŵĂŬŝŶŐ͕ĂŐĂƌďĂƫŵĂŬŝŶŐƵŶŝƚ͕ ƉƌŽŵŽƚĞƚƌĂĚŝƟŽŶĂůĂƌƚĂŶĚĐƵůƚƵƌĞ͘ĞƐŝĚĞƐ͕ƚŚĞŽŵƉĂŶLJĂůƐŽ ƐŶĂĐŬƐŵĂŬŝŶŐ͕ŶƵƚƌŝƟǀĞĨŽŽĚŵĂŶƵĨĂĐƚƵƌŝŶŐĂŶĚƐŽŽŶ ƐƵƉƉŽƌƚĞĚŬĂƌŵĂ;ĨŽůŬĚĂŶĐĞͲĐƵůƚƵƌĂůͿŐƌŽƵƉďLJƉƌŽǀŝĚŝŶŐƚŚĞŵ Assisted women graduate into Self-help Entrepreneurs with musical instruments. Moreover, it organised street plays to ƚŚƌŽƵŐŚďĂĐŬǁĂƌĚĂŶĚĨŽƌǁĂƌĚůŝŶŬĂŐĞƐ͗ϮϱϳǁŽŵĞŶǁŚŽ ĚƌŝǀĞĂǁĂƌĞŶĞƐƐĂďŽƵƚ/^͕ŚLJŐŝĞŶĞĂŶĚƐĂŶŝƚĂƟŽŶ͘ ǁĞƌĞ ƚƌĂŝŶĞĚ ĞŵĞƌŐĞĚ ĂƐ ĞŶƚƌĞƉƌĞŶĞƵƌƐ ŝŶ ƐƟƚĐŚŝŶŐ ĂŶĚ ƚĂŝůŽƌŝŶŐ Ăƚ ǀŝůůĂŐĞ ůĞǀĞů͕ ŐĞŶĞƌĂƟŶŐ ĂŶ ŝŶĐŽŵĞ ŽĨ ĂƌŽƵŶĚ <ĞLJĐƟǀŝƟĞƐŝŶϮϬϭϮͲϭϯ ` 5.14 lac Provided opportunity to showcase talent, support / assist ƚŽƉĂƌƟĐŝƉĂƚĞĂŶĚĞdžĐĞůŝŶƉƌĞƐĞƌǀĂƟŽŶĂŶĚƉƌŽŵŽƟŽŶŽĨ Helped more than 80 women earn 4.6 lac as wages during ƚƌĂĚŝƟŽŶĂůƉƌĂĐƟĐĞƐ ƚŚĞ LJĞĂƌ ƵŶĚĞƌ ƌĞǀŝĞǁ ďLJ ƐƵƉƉůLJŝŶŐ ĂƌƟƐĂŶ ƉƌŽĚƵĐƚƐ ƚŽ :ŚĂƌĐƌĂŌ  ƐƚĂďůŝƐŚĞĚ LJŽƵƚŚ ĐůƵďƐ ĂŶĚ ƉĂƌƚŶĞƌĞĚ ƚŚĞŵ ŝŶ ůŽĐĂů ĨĞƐƟǀĂůƐƚŽƉƌŽŵŽƚĞĐƵůƚƵƌĂůďŽŶĚŝŶŐ  dŝĸŶ ^ĞƌǀŝĐĞ WƌŽŐƌĂŵŵĞ ʹ :ŽŝŶƚ >ŝĂďŝůŝƚLJ 'ƌŽƵƉ ŽĨ ĮǀĞ ŵĞŵďĞƌƐĨƌŽŵsŝůůĂŐĞŚĂŐǁĂŶƉƵƌ  ^ƵƉƉŽƌƚĞĚLJŽƵƚŚĐůƵďƐĂĐƌŽƐƐϮϬǀŝůůĂŐĞƐďLJƉƌŽǀŝĚŝŶŐƚŚĞŵ ƐƉŽƌƚƐŵĂƚĞƌŝĂůƐ͕ŝŶƚƵƌŶďĞŶĞĮƟŶŐϯϬϬƉůĂLJĞƌƐ  ZĞǀŝǀĞĚϭϭƚƌĂĚŝƟŽŶĂůĂƌƟƐĂŶĨĂŵŝůŝĞƐǁŝƚŚƚŚĞŚĞůƉŽĨƚŚĞ DhokraWƌŽĚƵĐƟŽŶƵŶŝƚ  Ƶŝůƚ ƌƵƌĂů ŐLJŵŶĂƐŝƵŵƐ͕ ĨƵŶĚĞĚ ĨŽƌ ƉƵƌĐŚĂƐŝŶŐ ƐƉŽƌƚƐ ĞƋƵŝƉŵĞŶƚ ĂŶĚ ŽƌŐĂŶŝƐĞĚ ĐŽĂĐŚŝŶŐ ĨĂĐŝůŝƟĞƐ ƚŽ ŶƵƌƚƵƌĞ  ^ƵƉƉŽƌƚĞĚǁŽŵĞŶĨƌŽŵϭϱĞĐŽŶŽŵŝĐĂůůLJďĂĐŬǁĂƌĚĨĂŵŝůŝĞƐ young talent ƚŽƐƚĂƌƚŶĞǁǀĞŶƚƵƌĞƐĂƚsŝůůĂŐĞhĐŚĐŚĂďŚŝƫ Engaged 85 farmers in integrated pisciculture and  WƌŽŵŽƚĞĚƌƵƌĂůƐƉŽƌƚƐďLJŽƌŐĂŶŝƐŝŶŐƚŽƵƌŶĂŵĞŶƚƐĂƚǀĂƌŝŽƵƐ levels and patronising successful sportspersons freshwater prawn culture across seven villages Arranged coaching support for kabaddi  ŝƐƚƌŝďƵƚĞĚϯůĂĐƐĮŶŐĞƌůŝŶŐƐƚŽϱϬĨĂƌŵĞƌƐ͕ŚĞůƉŝŶŐƚŚĞŵ ͕ǀŽůůĞLJďĂůů͕ĨŽŽƚďĂůů earn ` 12 lac ĂŶĚĐƌŝĐŬĞƚ͕ĂŶĚĂůƐŽŽƌŐĂŶŝƐĞĚŝŶƚĞƌͲǀŝůůĂŐĞŵĂƚĐŚĞƐ Promoted young entrepreneurs to manage Community  ,ĞůƉĞĚĨĂƌŵĞƌƐŝŶĐƌĞĂƐĞƌŝĐĞƉƌŽĚƵĐƟŽŶďLJĂƌŽƵŶĚϯϱйďLJ using SRI method Assets Helped 23 farmers in 13 acres across two villages (Mahitala  ^ƵƉƉŽƌƚĞĚϭ͕ϲϱϬLJŽƵŶŐƉĞŽƉůĞĂĐƌŽƐƐϯϯǀŝůůĂŐĞƐŝŶĐƌŝĐŬĞƚ ĂŶĚ:ĂƌĂĚĂͿŝŶĐƌĞĂƐĞƚŽƚĂůƉƌŽĚƵĐƟŽŶŽĨŚLJďƌŝĚŵĂŝnjĞĂŶĚ ĂŶĚĨŽŽƚďĂůů ƐǁĞĞƚĐŽƌŶďLJϰϬй  ƐƚĂďůŝƐŚĞĚĂƌƵƌĂůƐƉŽƌƚĂĐĂĚĞŵLJĨŽƌƚĂůĞŶƚŚƵŶƚŝŶǀĂƌŝŽƵƐ  ͚^ƐŽĚĂƐŚŝ͛Ͳ ůŽǁͲĐŽƐƚ ƐĂŶŝƚĂƌLJ ŶĂƉŬŝŶ ŵĂŶƵĨĂĐƚƵƌŝŶŐ ƵŶŝƚ͕ ƐƉŽƌƚƐ ůŝŬĞ ƐǁŝŵŵŝŶŐ͕ ďĞŶĞĮƟŶŐ LJŽƵŶŐ ƉĞŽƉůĞ ĂĐƌŽƐƐ ϰϮ ǁŚŝĐŚ ĐĂƚĞƌƐ ƚŽ ĞŵƉůŽLJŵĞŶƚ ŐĞŶĞƌĂƟŽŶ ĨŽƌ ^,'Ɛ ŝŶ ƚŚĞ ǀŝůůĂŐĞƐĂŶĚϮϬϬƉĂƌƟĐŝƉĂŶƚƐ ŶĞĂƌďLJǀŝůůĂŐĞƐ͘  &ŽƌŵĞĚĂƌĐŚĞƌLJĂĐĂĚĞŵŝĞƐŝŶƚŚƌĞĞǀŝůůĂŐĞƐďĞŶĞĮƟŶŐϭϬϬ Directly impacted women’s health, safety and personal ƉĂƌƟĐŝƉĂŶƚƐ ŚLJŐŝĞŶĞďLJƉƌŽŵŽƟŶŐƚŚĞƵƐĞŽĨƐĂŶŝƚĂƌLJŶĂƉŬŝŶƐ  WƌŽǀŝĚĞĚ ŵƵƐŝĐĂů ŝŶƐƚƌƵŵĞŶƚƐ ƚŽ ϭϮϬ ƚƌĂĚŝƟŽŶĂů ĂƌƟƐĂŶƐ  ^ƚƌŝǀĞĚ ƚŽ ĞŵƉŽǁĞƌ ǁŽŵĞŶ ďLJ ŝŶƚƌŽĚƵĐŝŶŐ ƚŚĞ ŝŶĐĞŶƐĞ ĂĐƌŽƐƐƐŝdžǀŝůůĂŐĞƐ ƐƟĐŬŵĂŶƵĨĂĐƚƵƌŝŶŐƵŶŝƚʹĂũŽŝŶƚŝŶŝƟĂƟǀĞďLJZ͕:^W> /ŶƚĞƌŶĂƟŽŶĂů^ŽĐŝĂůŽŵŵŝƚŵĞŶƚƐ and ITC Ltd under PPP mode  ĐŽŶƐĐŝĞŶĐĞͲĚƌŝǀĞŶ ĂƉƉƌŽĂĐŚ ƚŽǁĂƌĚƐ ŵĂŬŝŶŐ Ă ƉŽƐŝƟǀĞ ^ƉŽƌƚƐ͕ƌƚĂŶĚƵůƚƵƌĞ ĐŽŶƚƌŝďƵƟŽŶ ƚŽ ƚŚĞ ƐŽĐŝĞƚLJ ĂŶĚ ĐŽŵŵƵŶŝƚLJ ĨŽƌŵƐ ĂŶ ŝŶƚĞŐƌĂů dŚĞ LJŽƵŶŐ ŐĞŶĞƌĂƟŽŶ ĨŽƌŵƐ Ă ƐŝŐŶŝĮĐĂŶƚ ƉĂƌƚ ŽĨ /ŶĚŝĂ͛Ɛ ƉĂƌƚŽĨ:^W>͛ƐďƵƐŝŶĞƐƐŵŽĚĞů͘džƉĂŶĚŝŶŐŝƚƐďƵƐŝŶĞƐƐŽƉĞƌĂƟŽŶƐ ƉŽƉƵůĂƟŽŶ͘ ĞŝŶŐ Ă ƌĞƐƉŽŶƐŝďůĞ ĐŽƌƉŽƌĂƚĞ ĐŝƟnjĞŶ͕ :^W> ŝƐ ĂĐƌŽƐƐ ŵƵůƟƉůĞ ĐŽƵŶƚƌŝĞƐ͕ ƚŚĞ ŽŵƉĂŶLJ ŚĂƐ ƉĂƌƚŶĞƌĞĚ channelising its energy towards developing young people of the ƉƌŽĂĐƟǀĞůLJŝŶďĞƩĞƌŵĞŶƚŽĨƐŽĐŝĞƚLJĂƐĂǁŚŽůĞ͘/ƚŚĂƐĞŵďƌĂĐĞĚ ĐŽƵŶƚƌLJ͘ dŚĞ ŽŵƉĂŶLJ ĐŽůůĂďŽƌĂƚĞĚ ǁŝƚŚ ǀĂƌŝŽƵƐ ǀŝůůĂŐĞ LJŽƵƚŚ ƚŚĞƌĞƐƉŽŶƐŝďŝůŝƚLJŽĨŵĂŬŝŶŐĂƉŽƐŝƟǀĞŝŵƉĂĐƚŽŶĞŶǀŝƌŽŶŵĞŶƚ͕ ĐůƵďƐƚŽŽƌŐĂŶŝƐĞĚŝīĞƌĞŶƚƐƉŽƌƚƐĂŶĚĐƵůƚƵƌĂůĞǀĞŶƚƐƚŚƌŽƵŐŚŽƵƚ ĐŽŶƐƵŵĞƌƐ͕ĞŵƉůŽLJĞĞƐ͕ĐŽŵŵƵŶŝƟĞƐĂŶĚƐƚĂŬĞŚŽůĚĞƌƐƚŚƌŽƵŐŚ ƚŚĞ LJĞĂƌ ƚŽ ŝĚĞŶƟĨLJ ĂŶĚ ŶƵƌƚƵƌĞ ĞdžĐĞƉƟŽŶĂů ƚĂůĞŶƚ ĂŶĚ ĨŽƐƚĞƌ ŝƚƐǀĂƌŝŽƵƐĂĐƟǀŝƟĞƐ͘dŚĞƐĞƉƌĂĐƟĐĞƐĂƌĞƌĞůŝŐŝŽƵƐůLJŝŵƉůĞŵĞŶƚĞĚ ƐƚƌŽŶŐĞƌ ĐŽŵŵƵŶŝƚLJ ďŽŶĚŝŶŐ͘ ƵƌŝŶŐ ƚŚĞ LJĞĂƌ ƵŶĚĞƌ ƌĞǀŝĞǁ͕ ŝŶƌĞŐŝŽŶƐůŝŬĞĨƌŝĐĂ͕KŵĂŶ͕ƵƐƚƌĂůŝĂĂŶĚ/ŶĚŽŶĞƐŝĂǁŚĞƌĞƚŚĞ ĐƌŝĐŬĞƚ͕ŬĂďĂĚĚŝĂŶĚǀŽůůĞLJďĂůůƚŽƵƌŶĂŵĞŶƚƐǁĞƌĞŽƌŐĂŶŝƐĞĚ͘dŚĞ Company has its presence.

117 Annual Report 2012-13 /Ŷ KŵĂŶ͕ ƚŚĞ ŽŵƉĂŶLJ ŽƌŐĂŶŝƐĞƐ ŚĞĂůƚŚ ďĞŶĞĮƚ ĐĂŵƉƐ͕ ŝŶƚĞŐƌĂƚĞ ŐŽŽĚ ĞŶǀŝƌŽŶŵĞŶƚ ŵĂŶĂŐĞŵĞŶƚ ƉƌĂĐƟĐĞƐ ĂŶĚ ĂĚŽƉƚ ĐŽŶƚƌŝďƵƚĞƐ ƚŽǁĂƌĚƐ ƐŽĐŝĂů ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ĂŶĚ ĐŽŶĚƵĐƚƐ ƐĞǀĞƌĂů ĞŶĞƌŐLJͲĞĸĐŝĞŶƚ ĂŶĚ ĞŶǀŝƌŽŶŵĞŶƚͲĨƌŝĞŶĚůLJ ƚĞĐŚŶŽůŽŐŝĞƐ͘ dŚĞLJ ŐĞƐƚƵƌĞƐĨŽƌƚŚĞďĞŶĞĮƚŽĨƉĞŽƉůĞĂƚůĂƌŐĞ͘/ŶĨƌŝĐĂĂƐǁĞůů͕ŝƚ ĂůƐŽƉƌŽŵŽƚĞĞĸĐŝĞŶƚƵƐĞŽĨĞŶĞƌŐLJĂŶĚŶĂƚƵƌĂůƌĞƐŽƵƌĐĞƐĂŶĚ ĐŽŶĚƵĐƚƐ ƐĞǀĞƌĂů ĞŶƚĞƌƉƌŝƐĞ ĚĞǀĞůŽƉŵĞŶƚ ŝŶŝƟĂƟǀĞƐ͕ ŽƌŐĂŶŝƐĞƐ ensure safe and proper storage, use and disposal of materials. This health camps, partners in infrastructure growth and enhances ŚĞůƉƐƚŽĞŶŚĂŶĐĞƐŬŝůůĂŶĚĂǁĂƌĞŶĞƐƐŽĨĞŵƉůŽLJĞĞƐ͕ĐŽŶƚƌĂĐƚŽƌƐ͕ ƚŚĞĞĚƵĐĂƟŽŶůĞǀĞůƐŽĨƚŚĞƉĞŽƉůĞ͘ ƐƵƉƉůŝĞƌƐĂŶĚƐĞƌǀŝĐĞƉƌŽǀŝĚĞƌƐĨŽƌĞŶǀŝƌŽŶŵĞŶƚƉƌŽƚĞĐƟŽŶ͘dŚĞ Company aims to increase the greenery in and around plant and ENVIRONMENTAL PROTECTION ĐŽĂůŵŝŶĞƐ͕ŵĂŬŝŶŐƉƌŽũĞĐƚͬďƵƐŝŶĞƐƐƵŶŝƚŚĞĂĚƐƌĞƐƉŽŶƐŝďůĞĨŽƌ dŚĞ ŽŵƉĂŶLJ ĂƩĞŵƉƚƐ ƚŽ ƐƚƌŝŬĞ ƚŚĞ ƌŝŐŚƚ ďĂůĂŶĐĞ ďĞƚǁĞĞŶ ƚŚĞŝŵƉůĞŵĞŶƚĂƟŽŶŽĨĞŶǀŝƌŽŶŵĞŶƚĂůůĂǁƐĂŶĚƌĞŐƵůĂƟŽŶƐ͘dŚĞ environment and growth. The manufacturing units are operated ŚĞĂĚŽĨƚŚĞĐŽƌƉŽƌĂƚĞĞŶǀŝƌŽŶŵĞŶƚĚĞƉĂƌƚŵĞŶƚŝƐĂůƐŽďĞƐƚŽǁĞĚ ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ƐŽƵŶĚ ĞŶǀŝƌŽŶŵĞŶƚ ŵĂŶĂŐĞŵĞŶƚ ƉƌĂĐƟĐĞƐ ǁŝƚŚƚŚĞƌĞƐƉŽŶƐŝďŝůŝƚLJŽĨĐŽŽƌĚŝŶĂƟŽŶǁŝƚŚĂůůƉƌŽũĞĐƚͬƵŶŝƚŚĞĂĚƐ ĂŶĚ ƵƚŵŽƐƚ ĐĂƌĞ ŝƐ ƚĂŬĞŶ ŝŶ ĞŶǀŝƌŽŶŵĞŶƚ ƉƌŽƚĞĐƟŽŶ͘ dŚĞ to ensure environmental compliance. The Company is complying ŽŵƉĂŶLJ͛Ɛ DŝƐƐŝŽŶ ĂŶĚ sŝƐŝŽŶ ƐƚĂƚĞŵĞŶƚ ĂŵƉůLJ ĞdžƉƌĞƐƐĞƐ ŝƚƐ ǁŝƚŚĂůůƐƚĂƚƵƚŽƌLJƌĞƋƵŝƌĞŵĞŶƚƐ͕ĞŶǀŝƌŽŶŵĞŶƚĂůƌĞŐƵůĂƟŽŶƐĂŶĚ ĂƉƉƌŽĂĐŚƚŽĞŶǀŝƌŽŶŵĞŶƚƐƵƐƚĂŝŶĂďŝůŝƚLJ͘ ŝƐŽƉĞƌĂƟŶŐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞŐƵŝĚĞůŝŶĞƐƉƵďůŝƐŚĞĚďLJƚŚĞ DŝŶŝƐƚƌLJŽĨŶǀŝƌŽŶŵĞŶƚĂŶĚ&ŽƌĞƐƚĨƌŽŵƟŵĞƚŽƟŵĞ͘ dŚĞ ŐƵŝĚŝŶŐ ƉƌŝŶĐŝƉůĞƐ ƉƌĞƐĐƌŝďĞ ƚŚĂƚ Ăůů ďƵƐŝŶĞƐƐ ĚĞĐŝƐŝŽŶƐ ƐŚŽƵůĚďĞŐƵŝĚĞĚďLJƐĞŶƐŝƟǀŝƚLJƚŽǁĂƌĚƐĞŶǀŝƌŽŶŵĞŶƚ͕ŶĞĞĚĨŽƌ dŚĞ ŽŵƉĂŶLJ ĂĚŽƉƚƐ ƚŚĞ ďĞƐƚ ƉƌĂĐƟĐĞƐ ŽŶ ĞŶǀŝƌŽŶŵĞŶƚ͕ ƐƵƐƚĂŝŶĂďůĞ ĚĞǀĞůŽƉŵĞŶƚ ĂŶĚ ŝŵƉŽƌƚĂŶĐĞ ĨŽƌ ĞŶǀŝƌŽŶŵĞŶƚĂů ŽĐĐƵƉĂƟŽŶĂůŚĞĂůƚŚĂŶĚƐĂĨĞƚLJĂƌĞĂƐ͘dŚĞŽƌŐĂŶŝƐĂƟŽŶƉƵƌƐƵĞƐ the Environmental Management System (EMS) ISO 14001 and ŝŵƉĂĐƚ ĂŶĚ ƐŽĐŝĂů ǁĞůĨĂƌĞ͘ dŚĞLJ ƐŚŽƵůĚ ĂůƐŽ Ăŝŵ ƚŽ ŵĂdžŝŵŝƐĞ ƉĂƌƟĐŝƉĂƟŽŶŽĨĞŵƉůŽLJĞĞƐ͕ĐŽŶƚƌĂĐƚŽƌƐ͕ĐƵƐƚŽŵĞƌƐ͕ĐŽŵŵƵŶŝƟĞƐ ƚŚĞKĐĐƵƉĂƟŽŶĂů,ĞĂůƚŚĂŶĚ^ĂĨĞƚLJƐƐĞƐƐŵĞŶƚ^LJƐƚĞŵK,^^ 18001 at its units. This helps it improve waste management, ĂŶĚ͕ ĨŽƌ ƚŚĂƚ ŵĂƩĞƌ͕ Ăůů ƐƚĂŬĞŚŽůĚĞƌƐ͘ dŚŝƐ ŝƐ ĞƐƐĞŶƟĂů ƚŽ ǁĂƚĞƌ ĂŶĚ ĞŶĞƌŐLJ ĐŽŶƐĞƌǀĂƟŽŶ͕ ŶŽŝƐĞ ƌĞĚƵĐƟŽŶ͕ ĐŽŶƚƌŽů ŽĨ ƉƌĞƐĞƌǀĞ ƚŚĞ ĞĐŽůŽŐŝĐĂů ďĂůĂŶĐĞ͕ ŽƉƟŵŝƐĞ ƚŚĞ ƵƐĞ ŽĨ ŶĂƚƵƌĂů ƐƚĂĐŬĂŶĚĨƵŐŝƟǀĞĞŵŝƐƐŝŽŶƐ͘dŚŝƐŝƐĂĐŚŝĞǀĞĚƚŚƌŽƵŐŚŝŵƉƌŽǀĞĚ ƌĞƐŽƵƌĐĞƐ ĂŶĚ ƚŽ ƐƚƌŝǀĞ ĨŽƌ ĐŽŶƟŶƵŽƵƐ ŝŵƉƌŽǀĞŵĞŶƚ ƚŚƌŽƵŐŚ ŚŽƵƐĞŬĞĞƉŝŶŐ͘ ĞƐŝĚĞƐ͕ ƚŚĞ ŽŵƉĂŶLJ͛Ɛ ĞŶŚĂŶĐĞĚ ǁŽƌŬ njŽŶĞ ŵŽŶŝƚŽƌŝŶŐ͕ƌĞŐƵůĂƌƌĞǀŝĞǁĂŶĚĂĚŽƉƟŽŶŽĨůĂƚĞƐƚƚĞĐŚŶŽůŽŐŝĞƐ͘ The environmental impact studies are conducted, necessary ĞŶǀŝƌŽŶŵĞŶƚŚĂƐďĞĞŶĐĞƌƟĮĞĚĨŽƌ/^KϭϰϬϬϭΘK,^^ϭϴϬϬϭďLJ ƌĞƉƵƚĞĚŶĂƟŽŶĂůĂŶĚŝŶƚĞƌŶĂƟŽŶĂůĐĞƌƟĨLJŝŶŐĂŐĞŶĐŝĞƐ͘ ĞŶǀŝƌŽŶŵĞŶƚĂůĐůĞĂƌĂŶĐĞƐĂƌĞŽďƚĂŝŶĞĚĂŶĚĂĐƟŽŶƉůĂŶƐĂƌĞƉƵƚ ŝŶ ƉůĂĐĞ ĨŽƌ ĞīĞĐƟǀĞ ĐŽŵƉůŝĂŶĐĞ ŽĨ Ăůů ƉƌĞƐĐƌŝďĞĚ ƐƟƉƵůĂƟŽŶƐ͘ ƚ Ăůů ƉƌŽũĞĐƚƐ͕ ĂƉƉƌŽƉƌŝĂƚĞ Ăŝƌ ƉŽůůƵƟŽŶ ĐŽŶƚƌŽů ĚĞǀŝĐĞƐ ůŝŬĞ dŚĞƐĞƐƚƵĚŝĞƐŝĚĞŶƟĨLJ͕ĂƐƐĞƐƐĂŶĚŵĂŶĂŐĞĞŶǀŝƌŽŶŵĞŶƚĂůŝŵƉĂĐƚ͕ ,ŝŐŚĞĸĐŝĞŶĐLJWƵůƐĞͲũĞƚďĂŐĮůƚĞƌƐ͕ůĞĐƚƌŽ^ƚĂƟĐWƌĞĐŝƉŝƚĂƚŽƌƐ͕

118 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Management Discussion and Analysis

THE GUIDING PRINCIPLES ƉƌĞƐĐƌŝďĞƚŚĂƚĂůůďƵƐŝŶĞƐƐ “ĚĞĐŝƐŝŽŶƐƐŚŽƵůĚďĞŐƵŝĚĞĚďLJƐĞŶƐŝƟǀŝƚLJƚŽǁĂƌĚƐĞŶǀŝƌŽŶŵĞŶƚ͕ŶĞĞĚ ĨŽƌƐƵƐƚĂŝŶĂďůĞĚĞǀĞůŽƉŵĞŶƚĂŶĚŝŵƉŽƌƚĂŶĐĞĨŽƌĞŶǀŝƌŽŶŵĞŶƚĂůŝŵƉĂĐƚ ĂŶĚƐŽĐŝĂůǁĞůĨĂƌĞ͘dŚĞLJƐŚŽƵůĚĂůƐŽĂŝŵƚŽŵĂdžŝŵŝƐĞƉĂƌƟĐŝƉĂƟŽŶŽĨ ĞŵƉůŽLJĞĞƐ͕ĐŽŶƚƌĂĐƚŽƌƐ͕ĐƵƐƚŽŵĞƌƐ͕ĐŽŵŵƵŶŝƟĞƐĂŶĚ͕ĨŽƌƚŚĂƚŵĂƩĞƌ͕ ĂůůƐƚĂŬĞŚŽůĚĞƌƐ͘

concrete material, road pavement material, hume pipes, tetra- ƉŽĚƐ͕ ĐŽŶĐƌĞƚĞ ďƌŝĐŬƐ͕ ĐŽŶĐƌĞƚĞ ƉŝƉĞƐ ĂŶĚ ƐŽ ŽŶ͘ dŚĞ sĞƌŵŝͲ compost plant was set up for conversion of organic waste to ŵĂŶƵƌĞďLJƵƐŝŶŐĞĂƌƚŚǁŽƌŵƐ͘dŚĞƌĞƐƵůƚĂŶƚŵĂŶƵƌĞŝƐƵƐĞĚĨŽƌ ƚŚĞƉƵƌƉŽƐĞŽĨŐĂƌĚĞŶŝŶŐ͘WůĂŶƚƐĂƌĞĞƐƚĂďůŝƐŚĞĚƚŽŵĂŶƵĨĂĐƚƵƌĞ ŇLJĂƐŚďƌŝĐŬƐ͕ǁŚŝĐŚĂƌĞƵƐĞĚƚŽƉĞƌĨŽƌŵĂůůĐŽŶƐƚƌƵĐƟŽŶĂĐƟǀŝƟĞƐ of the Company.

dŚĞŽŵƉĂŶLJŚĂƐďƵŝůƚƵƉĂƐƚƌŽŶŐŶǀŝƌŽŶŵĞŶƚDĂŶĂŐĞŵĞŶƚ ĞƉĂƌƚŵĞŶƚ ;DͿ ŚĂǀŝŶŐ Ă ŵƵůƟĚŝƐĐŝƉůŝŶĂƌLJ ƚĞĂŵ ŽĨ ƉƌŽĨĞƐƐŝŽŶĂůĂŶĚƚĞĐŚŶŝĐĂůƐƚĂīĂƚĞĂĐŚŽĨŝƚƐƐŝƚĞƐ͘dŚĞŵĞŵďĞƌƐ ŽĨƚŚĞĚĞƉĂƌƚŵĞŶƚƌĞƉŽƌƚƚŽƚŚĞhŶŝƚ,ĞĂĚ͘DŚĂƐĞƐƚĂďůŝƐŚĞĚ Ă ŵŽĚĞƌŶ ĞŶǀŝƌŽŶŵĞŶƚĂů ůĂďŽƌĂƚŽƌLJ ŚĂǀŝŶŐ ƐŽƉŚŝƐƟĐĂƚĞĚ instruments, including those for monitoring environmental ƋƵĂůŝƚLJƚŽĂƐƐĞƐƐĞŶǀŝƌŽŶŵĞŶƚĂůƌŝƐŬƐ͘ ǀĞƌLJ ĂƐƉĞĐƚ ŽĨ ƉŽůůƵƟŽŶ ŐĞŶĞƌĂƚĞĚ ĚƵĞ ƚŽ ƉůĂŶƚ ĂĐƟǀŝƟĞƐ ŝƐ ŵŽŶŝƚŽƌĞĚ ŝŶ ĚĞƚĂŝů ĂŶĚ ĂĚĞƋƵĂƚĞ ƐƚĞƉƐ ĂƌĞ ƚĂŬĞŶ ƚŽ ŵŝŶŝŵŝƐĞ ŝƚ͘dŚĞŽƌŐĂŶŝƐĂƟŽŶƐƚƌŝĐƚůLJĨŽůůŽǁƐƚŚĞƉƌŝŶĐŝƉůĞƐŽĨŵŝŶŝŵŝƐŝŶŐ ƐĐƌƵďďĞƌƐ ĂŶĚ ĚƵƐƚ ĞdžƚƌĂĐƟŽŶ͕ ĂŶĚ ƐƵƉƉƌĞƐƐŝŽŶ ƐLJƐƚĞŵƐ ĂƌĞ ƉŽůůƵƟŽŶ͕ ǁĂƐƚĂŐĞƐ ĂŶĚ ĞŶĞƌŐLJ ƵƐĂŐĞ ĚƵƌŝŶŐ ŵĂŶƵĨĂĐƚƵƌŝŶŐ͘ ŝŶƐƚĂůůĞĚ ƚŽ ĐŽŶƚƌŽů Ăŝƌ ƉŽůůƵƟŽŶ͘ ŵŝƐƐŝŽŶƐ ĂƌĞ ŵŽŶŝƚŽƌĞĚ ĨŽƌ ĞƐŝĚĞƐ͕ŝƚĂůƐŽĂŝŵƐƚŽŵĂdžŝŵŝƐĞƚŚĞŚĂƌŵŽŶLJďĞƚǁĞĞŶŵĂŶŬŝŶĚ and surroundings. ƚŚĞŝƌ ĂĚŚĞƌĞŶĐĞ ƚŽ ƚŚĞ ƌĞůĞǀĂŶƚ ƌƵůĞƐ͘ ŵďŝĞŶƚ Ăŝƌ ƋƵĂůŝƚLJ ŝƐ ŵŽŶŝƚŽƌĞĚ ďLJ ŝŶƐƚĂůůŝŶŐ ŽŶůŝŶĞ ĂŵďŝĞŶƚ Ăŝƌ ƋƵĂůŝƚLJ ŵŽŶŝƚŽƌŝŶŐ :^W> ƵŶĚĞƌƚĂŬĞƐ ĂīŽƌĞƐƚĂƟŽŶ ƉƌŽŐƌĂŵŵĞƐ ĐŽǀĞƌŝŶŐ ǀĂƐƚ ƚƌĂĐƚƐ ƐƚĂƟŽŶƐ͘dŚĞƌĞĂůͲƟŵĞĂŝƌƋƵĂůŝƚLJĚĂƚĂĂƌĞďĞŝŶŐƐŚĂƌĞĚǁŝƚŚ^ƚĂƚĞ ŽĨ ůĂŶĚ ŝŶ ĂŶĚ ĂƌŽƵŶĚ ŝƚƐ ƉƌŽũĞĐƚƐ͘ dƌĞĞ ƉůĂŶƚĂƟŽŶ ŝƐ ŝŶƚĞŐƌĂů WŽůůƵƟŽŶŽŶƚƌŽůŽĂƌĚƚŚƌŽƵŐŚ'WZ^ŶĞƚǁŽƌŬĂŶĚŝƐĚŝƐƉůĂLJĞĚ to the Company’s environment management plan. Mass tree Ăƚ ƉƌŽŵŝŶĞŶƚ ƉůĂĐĞƐ͘ tĂƚĞƌ ĐŽŶƐƵŵƉƟŽŶ Ăƚ ǀĂƌŝŽƵƐ ƵŶŝƚƐ ŝƐ ƉůĂŶƚĂƟŽŶ ƉƌŽŐƌĂŵŵĞƐ ĂƌĞ ƌĞŐƵůĂƌůLJ ŽƌŐĂŶŝƐĞĚ ŝŶ ĐŽŶƐƵůƚĂƟŽŶ ŵŽŶŝƚŽƌĞĚ ĂŶĚ ŽƉĞƌĂƟŽŶ ƉƌĂĐƟĐĞƐ ĂƌĞ ĐŽŶƟŶƵŽƵƐůLJ ŝŵƉƌŽǀĞĚ with the Forest Department covering vast tracts of land in and ĨŽƌ ŵŝŶŝŵĂů ƵƟůŝƐĂƟŽŶ͘ ŽŶƐƵŵƉƟŽŶ ŝƐ ŽƉƟŵŝƐĞĚ ƚŚƌŽƵŐŚ ĂƌŽƵŶĚŝƚƐƵŶŝƚƐŝŶĂĐŽŶĐĞƌƚĞĚďŝĚƚŽŝŶĐƌĞĂƐĞŐƌĞĞŶĐŽǀĞƌŽĨƚŚĞ recycling and reuse. A close circuit arrangement is adopted to ĂƌĞĂ͘'ƌĞĞŶďĞůƚƐĂƌĞƉƌŽƉĞƌůLJŵĂŝŶƚĂŝŶĞĚ͘KǀĞƌϮůĂĐƐĂƉůŝŶŐƐ were planted during the current year with a survival rate of ŵĂŝŶƚĂŝŶnjĞƌŽĚŝƐĐŚĂƌŐĞ͘dŚĞƐĞǁĂŐĞĨƌŽŵƚŽǁŶƐŚŝƉĂŶĚŽĸĐĞ ŽǀĞƌϴϬй͕ŝŶĂĚĚŝƟŽŶƚŽĐŽŵƉĞŶƐĂƚŽƌLJĂīŽƌĞƐƚĂƟŽŶĂŶĚŵĂƐƐ areas is completely treated and the resultant sewage water is ƚƌĞĞƉůĂŶƚĂƟŽŶƉƌŽŐƌĂŵŵĞƐĐĂƌƌŝĞĚŽƵƚŝŶĐŽŶƐƵůƚĂƟŽŶǁŝƚŚƚŚĞ ĨƵůůLJƵƟůŝƐĞĚĨŽƌŐĂƌĚĞŶŝŶŐĂŶĚŚŽƌƟĐƵůƚƵƌĞĂĐƟǀŝƟĞƐ͘īĞĐƟǀĞ Forest Department. ƌĂŝŶǁĂƚĞƌ ŚĂƌǀĞƐƟŶŐ ƉƌĂĐƟĐĞƐ ĂƌĞ ĂĚŽƉƚĞĚ ƚŚƌŽƵŐŚ ŝŶũĞĐƟŽŶ wells to recharge the ground water and water reservoirs. Solid dƌĂŝŶŝŶŐ ŝƐ ŝŵƉĂƌƚĞĚ ƚŽ ĞŵƉůŽLJĞĞƐ ĨŽƌ ĞŶǀŝƌŽŶŵĞŶƚ ƉƌŽƚĞĐƟŽŶ ǁĂƐƚĞ ŐĞŶĞƌĂƚĞĚ ŝƐ ƵƟůŝƐĞĚ ƚŽ ƚŚĞ ŵĂdžŝŵƵŵ ĞdžƚĞŶƚ͘ ƚ ƐƚĞĞů ĂŶĚ ĐŽŵŵĞŶĚĂďůĞ ƉĞƌĨŽƌŵĂŶĐĞƐ ŝŶ ƚŚĞ ĮĞůĚ ĂƌĞ ƌĞĐŽŐŶŝƐĞĚ ƉůĂŶƚƐ͕ďůĂƐƚĨƵƌŶĂĐĞƐůĂŐŝƐϭϬϬйƌĞƵƐĞĚŝŶĐĞŵĞŶƚŵĂŶƵĨĂĐƚƵƌŝŶŐ ƚŚƌŽƵŐŚ ĂǁĂƌĚƐ ůŝŬĞ 'ƌĞĞŶ ĞƉĂƌƚŵĞŶƚ͘ WƌŽŐƌĂŵŵĞƐ ĂƌĞ ĂůƐŽ ĐŽŶĚƵĐƚĞĚ ĨŽƌ ĞŶǀŝƌŽŶŵĞŶƚ ĂǁĂƌĞŶĞƐƐ ďLJ ŽƌŐĂŶŝƐŝŶŐƐĞŵŝŶĂƌƐ͕ ĂŶĚďƌŝĐŬŵĂŬŝŶŐ͘^ŝŶƚĞƌƉůĂŶƚŝƐĚĞƐŝŐŶĞĚƚŽƵƟůŝƐĞŵŝůůƐĐĂůĞĂŶĚ ĂƌƌĂŶŐŝŶŐĂŶŶƵĂůŇŽǁĞƌĂŶĚǀĞŐĞƚĂďůĞƐŚŽǁƐ͕ŽďƐĞƌǀŝŶŐtŽƌůĚ ŇƵĞĚƵƐƚŐĞŶĞƌĂƚĞĚŝŶďůĂƐƚĨƵƌŶĂĐĞ͘^D^ƐůĂŐŝƐƵƐĞĚĨŽƌƌŽĂĚ Environment Day and others. ŵĂŬŝŶŐ͘WŽǁĞƌŝƐŐĞŶĞƌĂƚĞĚĨƌŽŵĐŽĂůƌĞũĞĐƚƐ͕ĮŶĞƐĂŶĚŵŝĚĚůŝŶŐƐ ŝŶ & ďŽŝůĞƌƐ͘ hŶƵƟůŝƐĞĚ ƐŽůŝĚ ǁĂƐƚĞƐ ĂƌĞ ĚŝƐƉŽƐĞĚ ŽĨ ƐĂĨĞůLJ͘ Z/^<^EKEZE^ ,ŽƵƐĞŬĞĞƉŝŶŐŝŶƚŚĞĞŶƟƌĞƉůĂŶƚŝƐŽǀĞƌůŽŽŬĞĚďLJDƚŚƌŽƵŐŚ During its journey over the years, JSPL has faced several ŵĂĐŚŝŶĞƐ͘^ůĂŐ;&Θ>Z&ͿĨƌŽŵ^D^ŝƐƉƌŽƉŽƐĞĚƚŽďĞƌĞĐLJĐůĞĚ ŝŵƉĞĚŝŵĞŶƚƐ͘ dŚĞ ŽŵƉĂŶLJ ŚĂƐ ĚĞǀĞůŽƉĞĚ Ă ĐĂƵƟŽƵƐ ƌŝƐŬ using Slag AƚŽŵŝƐŝŶŐdĞĐŚŶŽůŽŐLJ;^dͿƉƌŽǀŝĚĞĚďLJKD/^dZ͕ ŵĂŶĂŐĞŵĞŶƚ ƐLJƐƚĞŵ ƚŽ ŵŝƟŐĂƚĞ Ăůů ƚŚĞ ƉŽƐƐŝďůĞ ĂƐƐŽĐŝĂƚĞĚ Korea, which recovers the Metallic content from slag and concerns. ĐŽŶǀĞƌƚƐŝƚƚŽWƌĞĐŝŽƵƐ^ůĂŐ;W^ͿďĂůůƐ͘dŚĞŐƌĂŶƵůĞƐƉƌŽĚƵĐĞĚďLJ ƚŚŝƐƚĞĐŚŶŽůŽŐLJĐĂŶďĞƵƐĞĚŝŶĂďƌĂƐŝǀĞďůĂƐƚŵĂƚĞƌŝĂů͕ĐŽƵŶƚĞƌ ĞƐƉŝƚĞďĞŝŶŐƚŚĞǁŽƌůĚ͛ƐĨŽƵƌƚŚůĂƌŐĞƐƚƐƚĞĞůƉƌŽĚƵĐĞƌ͕/ŶĚŝĂŚĂƐ ǁĞŝŐŚƚ ďŝĐLJĐůĞ ƌŽĂĚ ŵĂƚĞƌŝĂů͕ ǁĂƚĞƌ ƚƌĞĂƚŵĞŶƚ ŵĞĚŝĂ͕ ƉŽůLJŵĞƌ ƚŚĞůŽǁĞƐƚƉĞƌĐĂƉŝƚĂĐŽŶƐƵŵƉƟŽŶŐůŽďĂůůLJ͘dŚŝƐŝƐĞdžƉĞĐƚĞĚƚŽ

119 Annual Report 2012-13 ďĞĐŽƌƌĞĐƚĞĚďLJƚŚĞŝŶĐƌĞĂƐĞŝŶƉƌŝǀĂƚĞƐĞĐƚŽƌƐŚĂƌĞƚŽǁĂƌĚƐƐƚĞĞů dŚĞ ŽŵƉĂŶLJ͛Ɛ ƉƌŽĚƵĐƟŽŶ ĐĂƉĂĐŝƚLJ ĞŶŚĂŶĐĞŵĞŶƚƐ ĂŶĚ ƉƌŽĚƵĐƟŽŶ͘&ƵƌƚŚĞƌ͕ƚŚĞƉůĂŶŶĞĚŝŶĨƌĂƐƚƌƵĐƚƵƌĞŝŶǀĞƐƚŵĞŶƚƐǁŝůů ĚŝǀĞƌƐŝĮĐĂƟŽŶĂĐƟǀŝƟĞƐƚŚƌŽƵŐŚƐƵďƐŝĚŝĂƌŝĞƐŝŶ/ŶĚŝĂĂŶĚĂďƌŽĂĚ ĂůƐŽŝŶĐƌĞĂƐĞƚŚĞƐƚĞĞůĚĞŵĂŶĚƐŝŐŶŝĮĐĂŶƚůLJŝŶƚŚĞĐŽŵŝŶŐLJĞĂƌƐ͘ ĂƌĞŚĞůƉŝŶŐŝŶĐƌĞĂƐĞƚŚĞŇŽǁŽĨďƵƐŝŶĞƐƐŝŶĨŽƌŵĂƟŽŶ͘DŽƌĞŽǀĞƌ͕ ŽǁŶƚŚĞůŝŶĞ͕ƚŚĞĐŽƵŶƚƌLJ͛ƐĚĞŵĂŶĚŝƐĞdžƉĞĐƚĞĚƚŽŽƵƚƌƵŶƚŚĞ ĚĞŵĂŶĚĨŽƌƉƌŽŵƉƚĚĞĐŝƐŝŽŶŵĂŬŝŶŐďĂƐĞĚŽŶŝŶĨŽƌŵĂƟŽŶĂŶĚ ƐƵƉƉůLJĂŶĚŝŵƉŽƌƚƚŚĞďĂůĂŶĐĞƌĞƋƵŝƌĞŵĞŶƚ͘ ĚĂƚĂŚĂƐĂůƐŽŝŶĐƌĞĂƐĞĚ͘,ĞŶĐĞ͕ƚŚĞƌĞŝƐĂŶŝŵƉĞƌĂƟǀĞŶĞĞĚƚŽ dŽ ƐƵƐƚĂŝŶ ƚŚĞ ŝŶĐƌĞĂƐŝŶŐ ƐƚĞĞů ĚĞŵĂŶĚ͕ Ă ĐŽŶƟŶƵŽƵƐ ƐƵƉƉůLJ ƌĞǀŝƐĞ ĂŶĚ ƵƉĚĂƚĞ ŝŶƚĞƌŶĂů ĐŽŶƚƌŽů ƐLJƐƚĞŵƐ͘ dŚŝƐ ŶĞĞĚƐ ƚŽ ďĞ ŽĨ ƌĂǁ ŵĂƚĞƌŝĂůƐ ŝƐ ĞdžƚƌĞŵĞůLJ ŶĞĐĞƐƐĂƌLJ͘ /Ŷ ĂĚĚŝƟŽŶ͕ ƐĞǀĞƌĂů ƉĞƌĨŽƌŵĞĚ ĐŽŶƐŝĚĞƌŝŶŐ ƚŚĞ ƋƵĂŶƟƚLJ ŽĨ ŝŶĨŽƌŵĂƟŽŶ͕ ƌĞƉŽƌƚƐ͕ ĞŶǀŝƌŽŶŵĞŶƚĂů ĂŶĚ ŽƉĞƌĂƟŽŶĂů ĐŽŶĐĞƌŶƐ͕ ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ƌĞĐŽƌĚƐ͕ ĚŽĐƵŵĞŶƚƐ͕ ƚƌĂŶƐĂĐƟŽŶ ƐƚĂƚĞŵĞŶƚƐ ĂŶĚ ŽƚŚĞƌƐ ďŽƩůĞŶĞĐŬƐ ;ůŝŬĞ ƌĂŝůǁĂLJ ƌĂŬĞƐ͕ ǁĂŐŽŶƐͿ ĂŶĚ ůĂŶĚ ĂĐƋƵŝƐŝƟŽŶ ŐĞŶĞƌĂƚĞĚĐŽŶƟŶƵŽƵƐůLJŝŶƚŚĞŽŵƉĂŶLJ͘ ŝƐƐƵĞƐ ŚĂǀĞ ĂůƐŽ ĂīĞĐƚĞĚ Ă ƐƵƐƚĂŝŶĂďůĞ ƐƵƉƉůLJ ŽĨ ĐŽĂů͘ WŽƐŝƟǀĞ ƵƚŚĞŶƟĐŝŶĨŽƌŵĂƟŽŶƐĞƌǀĞƐĂƐĂƐƚƌŽŶŐĨŽƵŶĚĂƟŽŶĨŽƌĞīĞĐƟǀĞ ŵĞĂƐƵƌĞƐƚĂŬĞŶďLJƚŚĞŐŽǀĞƌŶŵĞŶƚ;ĐŽŶƐŝĚĞƌŝŶŐƉƌŝĐĞƉŽŽůŝŶŐŽĨ ĐŽĂůĂŶĚŵŽŽƚĞĚĂƵĐƟŽŶŝŶŐŽĨĐŽĂůďůŽĐŬƐͿǁŝůůŚĞůƉŝŶƌĞŵŽǀŝŶŐ ĚĞĐŝƐŝŽŶͲŵĂŬŝŶŐ͕ ǁŚŝĐŚ ŚĂƐ ůŽŶŐͲůĂƐƟŶŐ ĐŽŶƐĞƋƵĞŶĐĞƐ ŽŶ ƐŽŵĞŽĨƚŚĞĞdžŝƐƟŶŐďŽƩůĞŶĞĐŬƐ͘ ďƵƐŝŶĞƐƐŐƌŽǁƚŚ͘ƵĚŝƚŽĨŽƉĞƌĂƟŽŶƐ͕ĞƐƚĂďůŝƐŚŵĞŶƚƐ͕ŵĂƌŬĞƟŶŐ ŽĸĐĞƐĂŶĚƐƚŽĐŬLJĂƌĚƐŝƐĐŽŶĚƵĐƚĞĚƋƵĂƌƚĞƌůLJďLJŽƵƚƐŝĚĞĐŚĂƌƚĞƌĞĚ dŚĞƌĞĂƌĞƐĞǀĞƌĂůŵĂƌŬĞƚǀŽůĂƟůŝƟĞƐŝŶƌĞƐƉĞĐƚƚŽƉƌŝĐĞ͕ŝŶƚĞƌĞƐƚ ĂĐĐŽƵŶƚĂŶƚĮƌŵƐĂƉƉŽŝŶƚĞĚďLJƚŚĞŽŵƉĂŶLJ͛ƐƵĚŝƚŽŵŵŝƩĞĞ͘ ĂŶĚ ĐƵƌƌĞŶĐLJ ǀĂůƵĂƟŽŶƐ͕ ǁŚŝĐŚ ĂůƐŽ ŚĂǀĞ ĂŶ ŝŵƉĂĐƚ ŽŶ ƚŚĞ This helps to ensure that the systems are adhered to and controls ŽŵƉĂŶLJ͛ƐďŽƩŽŵůŝŶĞ͘dŚĞŽŵƉĂŶLJŚĂƐďƵŝůƚĂƐƚƌŽŶŐƚĞĂŵƚŽ ĂƌĞŶŽƚŇŽƵƚĞĚ͘dŚĞƌĞƉŽƌƚƐƉƌŽǀŝĚĞĚďLJƚŚĞĂƵĚŝƚŽƌƐĐŽǀĞƌĂůů ŵŽŶŝƚŽƌƚŚĞĂďŽǀĞŇƵĐƚƵĂƟŽŶƐĂŶĚĂƟŵĞůLJĂŶƟĐŝƉĂƟŽŶƉƌŽƚĞĐƚƐ ĂƐƉĞĐƚƐ ŽĨ ŽƉĞƌĂƟŽŶƐ͕ ĂĐĐŽƵŶƚƐ͕ ƉƵƌĐŚĂƐĞƐ͕ ƐƚŽƌĞƐ͕ ƉƌŽĚƵĐƟŽŶ ŝƚĨƌŽŵĂŶLJŵĂũŽƌǀŽůĂƟůŝƟĞƐ͘ ĂŶĚŵĂƌŬĞƟŶŐ͘KŵŝƐƐŝŽŶƐĂŶĚĚĞǀŝĂƟŽŶƐĂƌĞƉƌŽƉĞƌůLJƌĞĐŽƌĚĞĚ /EdZE>KEdZK>^z^dD^ ĂŶĚ ĚŝƐĐƵƐƐĞĚ ƚŚŽƌŽƵŐŚůLJ ŝŶ ƚŚĞ ƵĚŝƚ ŽŵŵŝƩĞĞ ŵĞĞƟŶŐƐ͖ ƌĞŵĞĚŝĂůĂĐƟŽŶƐĂƌĞƐƵŐŐĞƐƚĞĚĂŶĚŵŽŶŝƚŽƌĞĚ͘ /ƌƌĞƐƉĞĐƟǀĞ ŽĨ ƚŚĞ ƐŝnjĞ ŽĨ Ă ďƵƐŝŶĞƐƐ͕ ŝŶƚĞƌŶĂů ĐŽŶƚƌŽů ƐLJƐƚĞŵƐ ƉůĂLJ Ă ŵĂũŽƌ ƌŽůĞ ŝŶ ŝƚƐ ĞĸĐŝĞŶƚ ĂŶĚ ĞīĞĐƟǀĞ ŵĂŶĂŐĞŵĞŶƚ͘ ŽƐƚƵĚŝƚŽƌƐĂƌĞƐĞƉĂƌĂƚĞůLJĂƉƉŽŝŶƚĞĚƚŽĂƵĚŝƚĐŽƐƚĂĐĐŽƵŶƟŶŐ The Company has an ever-evolving internal control system ƌĞĐŽƌĚƐ ĂŶĚ ƚŚĞŝƌ ƌĞƉŽƌƚ ŝƐ ĚŝƐĐƵƐƐĞĚ ŝŶ ƚŚĞ ƵĚŝƚ ŽŵŵŝƩĞĞ ĐŽŵŵĞŶƐƵƌĂƚĞǁŝƚŚƚŚĞƐŝnjĞŽĨŝƚƐŽƉĞƌĂƟŽŶƐ͘/ƚŝƐĂůƐŽƵƉĚĂƟŶŐ ŵĞĞƟŶŐƐďĞĨŽƌĞďĞŝŶŐĂƉƉƌŽǀĞĚďLJƚŚĞŽĂƌĚ͘dŚĞĮŶĂůƌĞƉŽƌƚ ƚŚĞƐLJƐƚĞŵƐďLJĂŶƟĐŝƉĂƟŶŐƚŚĞĨƵƚƵƌĞĞdžƉĂŶƐŝŽŶĂŶĚŐƌŽǁƚŚŽĨ ŝƐƐƵďŵŝƩĞĚƚŽƚŚĞĞŶƚƌĂů'ŽǀĞƌŶŵĞŶƚ͘dŚĞƵĚŝƚŽŵŵŝƩĞĞ ƚŚĞďƵƐŝŶĞƐƐ͘ ŵŽŶŝƚŽƌƐ ƚŚĞ ĞīĞĐƟǀĞŶĞƐƐ ĂŶĚ ŽƉĞƌĂƟŽŶĂů ĞĸĐŝĞŶĐLJ ŽĨ ƚŚĞ

120 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Management Discussion and Analysis

ŝŶƚĞƌŶĂů ĐŽŶƚƌŽů ƐLJƐƚĞŵƐ ƉĞƌŝŽĚŝĐĂůůLJ͘ /ƚ ĂůƐŽ ƉƌŽǀŝĚĞƐ ǀĂůƵĂďůĞ hd/KEZz^ddDEd ƐƵŐŐĞƐƟŽŶƐ ƚŽ ŝŵƉƌŽǀĞ ƚŚĞ ďƵƐŝŶĞƐƐ ƉƌŽĐĞƐƐĞƐ͕ ƐLJƐƚĞŵƐ ĂŶĚ dŚŝƐƌĞƉŽƌƚĐŽŶƚĂŝŶƐƉƌŽũĞĐƟŽŶƐ͕ĞƐƟŵĂƚĞƐĂŶĚĞdžƉĞĐƚĂƟŽŶƐĞƚĐ͕͘ internal controls. ǁŚŝĐŚĂƌĞũƵƐƚ͚ĨŽƌǁĂƌĚůŽŽŬŝŶŐƐƚĂƚĞŵĞŶƚƐ͛͘ĐƚƵĂůƌĞƐƵůƚƐĐŽƵůĚ dŚĞ ŽŵƉĂŶLJ͛Ɛ ƵĚŝƚ ŽŵŵŝƩĞĞ ĂůƐŽ ďƌŝĞĨƐ ƚŚĞ ŽĂƌĚ ŽĨ ĚŝīĞƌĨƌŽŵƚŚŽƐĞĞdžƉƌĞƐƐĞĚŽƌŝŵƉůŝĞĚŝŶƚŚŝƐƌĞƉŽƌƚ͘/ŵƉŽƌƚĂŶƚ ŝƌĞĐƚŽƌƐĂďŽƵƚƚŚĞĂƌĞĂƐŽĨĐŽŶĐĞƌŶ͘ŶŶƵĂůŝŶƚĞƌŶĂůĂƵĚŝƚƉůĂŶƐ ĨĂĐƚŽƌƐƚŚĂƚŵĂLJŚĂǀĞŝŵƉĂĐƚŽŶŽŵƉĂŶLJ͛ƐŽƉĞƌĂƟŽŶƐŝŶĐůƵĚĞ ĂƌĞƉƌĞƉĂƌĞĚďLJŝŶƚĞƌŶĂůĂƵĚŝƚŽƌƐŝŶĐŽŶƐƵůƚĂƟŽŶǁŝƚŚƚŚĞƵĚŝƚ ĞĐŽŶŽŵŝĐ ĐŽŶĚŝƟŽŶƐ ĂīĞĐƟŶŐ ĚĞŵĂŶĚ ͬ ƐƵƉƉůLJ ĂŶĚ ƉƌŝĐĞ ŽŵŵŝƩĞĞ͖ĂƵĚŝƚŝƐĐŽŶĚƵĐƚĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚŝƐƉůĂŶ͘ ĐŽŶĚŝƟŽŶƐ ŝŶ ƚŚĞ ĚŽŵĞƐƟĐ ĂŶĚ ŽǀĞƌƐĞĂƐ ŵĂƌŬĞƚƐ͕ ĐŚĂŶŐĞƐ ƐĞƉĂƌĂƚĞ ĚĞƉĂƌƚŵĞŶƚ ŚĞĂĚĞĚ ďLJ Ă ƐĞŶŝŽƌ ŽĸĐĞƌ ůŽŽŬƐ ĂŌĞƌ ŝŶ ƚŚĞ 'ŽǀĞƌŶŵĞŶƚ ƌĞŐƵůĂƟŽŶƐ ͬ ƉŽůŝĐŝĞƐ͕ ƚĂdž ůĂǁƐ ĂŶĚ ŽƚŚĞƌ internal control systems and assists internal auditors and the statutes and other incidental factors. The Company assures no ƵĚŝƚŽŵŵŝƩĞĞďLJƉƌŽǀŝĚŝŶŐĚĞƐŝƌĞĚŝŶƉƵƚƐ͘ ƌĞƐƉŽŶƐŝďŝůŝƚLJ ƚŽ ƉƵďůŝĐůLJ ŵŽĚŝĨLJ Žƌ ƌĞǀŝƐĞ ĂŶLJ ĨŽƌǁĂƌĚ ůŽŽŬŝŶŐ ƐƚĂƚĞŵĞŶƚƐŽŶƚŚĞďĂƐŝƐŽĨĂŶLJĨƵƚƵƌĞĞǀĞŶƚƐŽƌŶĞǁŝŶĨŽƌŵĂƟŽŶ͘ FINANCIAL MANAGEMENT ĐƚƵĂůƌĞƐƵůƚƐŵĂLJĚŝīĞƌĨƌŽŵƚŚŽƐĞŵĞŶƟŽŶĞĚŝŶƚŚĞƌĞƉŽƌƚ͘ /ŶůŝŶĞǁŝƚŚŝƚƐŐƌŽǁŝŶŐďƵƐŝŶĞƐƐ͕ƚŚĞŽŵƉĂŶLJƐŽƵƌĐĞƐĨƵŶĚƐĨƌŽŵ ƚǁŽŬĞLJƐŽƵƌĐĞƐʹŝŶƚĞƌŶĂůĂĐĐƌƵĂůƐĂŶĚďŽƌƌŽǁŝŶŐƐĨƌŽŵůĞŶĚĞƌƐ͘ ƐŝŶƚĞƌŶĂůĂĐĐƌƵĂůƐĐĂŶŶŽƚďĞƐƵĸĐŝĞŶƚĂůŽŶĞĨŽƌƚŚĞŵĂƐƐŝǀĞ ĞdžƉĂŶƐŝŽŶƉůĂŶƐ͕ƚŚĞŽŵƉĂŶLJ ŚĂƐĂůƐŽ ƌĂŝƐĞĚĂĚĞƋƵĂƚĞ ĨƵŶĚƐ &ŽƌΘŽŶďĞŚĂůĨŽĨƚŚĞŽĂƌĚ ĨƌŽŵďĂŶŬƐĂŶĚĮŶĂŶĐŝĂůŝŶƐƟƚƵƟŽŶƐ͘dŚĞŽŵƉĂŶLJůĞǀĞƌĂŐĞƐŝƚƐ WůĂĐĞ͗EĞǁĞůŚŝ EĂǀĞĞŶ:ŝŶĚĂů ĐƌĞĚĞŶƟĂůƐƚŽƐŽƵƌĐĞĨƵŶĚƐĂƚŵŽƐƚĐŽŵƉĞƟƟǀĞůĞŶĚŝŶŐƌĂƚĞƐ͘ ĂƚĞĚ͗ϮϱƚŚƉƌŝů͕ϮϬϭϯ Chairman ƉƌƵĚĞŶƚĮŶĂŶĐŝĂůƚĞĂŵŵŽŶŝƚŽƌƐƚŚĞŽŵƉĂŶLJ͛ƐŽǀĞƌĂůůĚĞďƚƐƚŽ ĞŶƐƵƌĞƟŵĞůLJƌĞƉĂLJŵĞŶƚĂŶĚƚŽŵĂŝŶƚĂŝŶĂůŽǁŐĞĂƌŝŶŐƌĂƟŽ͘

^ddhdKZzKDW>/E^ dŚĞ ŽŵƉĂŶLJ ^ĞĐƌĞƚĂƌLJ͕ ĂƐ ŽŵƉůŝĂŶĐĞ KĸĐĞƌ͕ ĞŶƐƵƌĞƐ ĐŽŵƉůŝĂŶĐĞŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲ͕ƚŚĞ^/ƌĞŐƵůĂƟŽŶƐĂŶĚ ƉƌŽǀŝƐŝŽŶƐ ŽĨ ƚŚĞ >ŝƐƟŶŐ ŐƌĞĞŵĞŶƚƐ͘ ŽŵƉůŝĂŶĐĞ ĐĞƌƟĮĐĂƚĞƐ ĂƌĞŽďƚĂŝŶĞĚĨƌŽŵƚŚĞŽŵƉĂŶLJ͛ƐǀĂƌŝŽƵƐhŶŝƚƐĂŶĚƚŚĞŽĂƌĚŝƐ ŝŶĨŽƌŵĞĚŽĨƚŚĞƐĂŵĞĂƚĞǀĞƌLJŽĂƌĚŵĞĞƟŶŐ͘

121 Annual Report 2012-13 EEyhZ͵s Business Responsibility Report

SECTION A 'EZ>/E&KZDd/KEKhdd,KDWEz

ϭ͘ ŽƌƉŽƌĂƚĞ/ĚĞŶƟƚLJEƵŵďĞƌ;/EͿ 3. Registered Address ϱ͘ ͲŵĂŝů/Ě of the Company  K͘W͘:/E>DZ'͕,/^ZͲϭϮϱϬϬϱ͕  ƐƵƐƚĂŝŶĂďŝůŝƚLJΛũŝŶĚĂůƐƚĞĞů͘ĐŽŵ  >ϮϳϭϬϱ,ZϭϵϳϵW>ϬϬϵϵϭϯ ,ZzE͕/ŶĚŝĂ Ϯ͘ EĂŵĞŽĨƚŚĞŽŵƉĂŶLJ 4. Website 6. Financial Year Reported Jindal Steel & Power Limited ǁǁǁ͘ũŝŶĚĂůƐƚĞĞůƉŽǁĞƌ͘ĐŽŵ 2012-13

ϳ͘ ^ĞĐƚŽƌ;ƐͿƚŚĂƚƚŚĞŽŵƉĂŶLJŝƐĞŶŐĂŐĞĚŝŶ;ŝŶĚƵƐƚƌŝĂůĂĐƟǀŝƚLJĐŽĚĞͲǁŝƐĞͿ

Group Class ĞƐĐƌŝƉƟŽŶ 241 2410 DĂŶƵĨĂĐƚƵƌŝŶŐŽĨ^ƚĞĞů 351 3510 'ĞŶĞƌĂƟŽŶŽĨWŽǁĞƌ ƐƉĞƌĐůĂƐƐŝĮĐĂƟŽŶƵŶĚĞƌEĂƟŽŶĂů/ŶĚƵƐƚƌŝĂůůĂƐƐŝĮĐĂƟŽŶ;ϮϬϬϴͿ͕ĞŶƚƌĂů^ƚĂƟƐƟĐĂůKƌŐĂŶŝƐĂƟŽŶ͕DŝŶŝƐƚƌLJŽĨ^ƚĂƟƐƟĐƐĂŶĚ WƌŽŐƌĂŵŵĞ/ŵƉůĞŵĞŶƚĂƟŽŶ͕'ŽǀĞƌŶŵĞŶƚŽĨ/ŶĚŝĂ͕EĞǁĞůŚŝ

8. List three key products/services that the Company manufactures/ provides (as in balance sheet) WůĂƚĞƐΘŽŝůƐപപ WĂƌĂůůĞů&ůĂŶŐĞĞĂŵƐĂŶĚŽůƵŵŶƐപപ MS Rounds ϵ͘ dŽƚĂůŶƵŵďĞƌŽĨůŽĐĂƟŽŶƐǁŚĞƌĞďƵƐŝŶĞƐƐĂĐƟǀŝƚLJŝƐƵŶĚĞƌƚĂŬĞŶďLJƚŚĞŽŵƉĂŶLJ ŝ͘ EƵŵďĞƌŽĨ/ŶƚĞƌŶĂƟŽŶĂů>ŽĐĂƟŽŶƐ;WƌŽǀŝĚĞĚĞƚĂŝůƐŽĨŵĂũŽƌϱͿ  dŚĞŵĂũŽƌŝŶƚĞƌŶĂƟŽŶĂůůŽĐĂƟŽŶƐǁŚĞƌĞ:^W>ŚĂƐďƵƐŝŶĞƐƐĂĐƟǀŝƚLJ͕ƚŚƌŽƵŐŚŝƚƐƐƵďƐŝĚŝĂƌŝĞƐĂŶĚƐƚĞƉͲĚŽǁŶƐƵďƐŝĚŝĂƌŝĞƐ͕ĂƌĞ KŵĂŶ͕^ŽƵƚŚĨƌŝĐĂ͕DŽnjĂŵďŝƋƵĞĂŶĚŽƚƐǁĂŶĂ͘ ŝŝ͘ EƵŵďĞƌŽĨEĂƟŽŶĂů>ŽĐĂƟŽŶƐ ϭ͘ WůĂŶƚƐ͗ State/Union Territory ŚŚĂƫƐŐĂƌŚ KĚŝƐŚĂ :ŚĂƌŬŚĂŶĚ ZĂŝŐĂƌŚ͕ZĂŝƉƵƌ͕ŽŶŐĂŵĂŚƵĂ ŶŐƵů͕Ăƌďŝů͕dĞŶƐĂ Patratu Ϯ͘ DĂƌŬĞƟŶŐKĸĐĞƐ͗  'ƵƌŐĂŽŶ͕ ZĂŝƉƵƌ͕ ŚŽƉĂů͕ ŚĂŶĚŝŐĂƌŚ͕ <ŽĐŚŝ͕ <ŽůŬĂƚĂ͕ :ĂŵƐŚĞĚƉƵƌ͕ ĂŶŐĂůŽƌĞ͕ <ĂŶƉƵƌ͕ DƵŵďĂŝ͕ ŚƵďĂŶĞƐŚǁĂƌ͕ ŚĞŶŶĂŝ͕:ĂŝƉƵƌ͕,LJĚĞƌĂďĂĚ͕>ƵĚŚŝĂŶĂ͕ŚŵĞĚĂďĂĚ͕WƵŶĞ͕EĂŐƉƵƌ͕WĂƚŶĂ͕'ŚĂnjŝĂďĂĚ͕&ĂƌŝĚĂďĂĚĂŶĚsŝnjĂŐ͘

122 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ƵƐŝŶĞƐƐZĞƐƉŽŶƐŝďŝůŝƚLJZĞƉŽƌƚ

ϭϬ͘ DĂƌŬĞƚƐƐĞƌǀĞĚďLJƚŚĞŽŵƉĂŶLJʹ>ŽĐĂůͬ^ƚĂƚĞͬEĂƟŽŶĂůͬ/ŶƚĞƌŶĂƟŽŶĂůͬ  tĞŚĂǀĞĂŐůŽďĂůĨŽŽƚƉƌŝŶƚƚŚĂƚƐĞƌǀĞƐďŽƚŚEĂƟŽŶĂůĂŶĚ/ŶƚĞƌŶĂƟŽŶĂůŵĂƌŬĞƚƐ͘

SECTION B &/EE/>d/>^K&d,KDWEz

ϭ͘ WĂŝĚƵƉĂƉŝƚĂů 2. Total Turnover ϯ͘ dŽƚĂůWƌŽĮƚŌĞƌdĂdžĞƐ  ༤ϵϯ͘ϰϴĐƌŽƌĞ  ༤ϭϱ͕ϭϭϯ͘ϵϴĐƌŽƌĞ  ༤ϭ͕ϱϵϮ͘ϱϱĐƌŽƌĞ

ϰ͘ dŽƚĂů^ƉĞŶĚŝŶŐŽŶŽƌƉŽƌĂƚĞ^ŽĐŝĂůZĞƐƉŽŶƐŝďŝůŝƚLJ;^ZͿĂƐƉĞƌĐĞŶƚĂŐĞŽĨƉƌŽĮƚĂŌĞƌƚĂdž;йͿ  KƵƌƚŽƚĂůƐƉĞŶĚŝŶŐŽŶ^ZŝƐ༤ϵϵ͘ϭϰĐƌŽƌĞǁŚŝĐŚŝƐϲ͘ϮϮйŽĨŽƵƌWd͘ ϱ͘ >ŝƐƚŽĨĂĐƟǀŝƟĞƐŝŶǁŚŝĐŚĞdžƉĞŶĚŝƚƵƌĞŝŶϰĂďŽǀĞŚĂƐďĞĞŶŝŶĐƵƌƌĞĚ

ŽŵŵƵŶŝƚLJ ^Ŭŝůů ,ĞĂůƚŚ ĚƵĐĂƟŽŶ /ŶĨƌĂƐƚƌƵĐƚƵƌĞ ĞǀĞůŽƉŵĞŶƚ

Sports EĂƚƵƌĂů ^ƵƐƚĂŝŶĂďůĞ Women ŝƐĂƐƚĞƌ and Cultural ZĞƐŽƵƌĐĞƐ >ŝǀĞůŝŚŽŽĚ ŵƉŽǁĞƌŵĞŶƚ ZĞůŝĞĨ Bonding Management

SECTION C Kd,Zd/>^

1. Does the Company have any Subsidiary Company/ Companies? zĞƐ͘ Ϯ͘ ŽƚŚĞ^ƵďƐŝĚŝĂƌLJŽŵƉĂŶLJͬŽŵƉĂŶŝĞƐƉĂƌƟĐŝƉĂƚĞŝŶƚŚĞZ/ŶŝƟĂƟǀĞƐŽĨƚŚĞƉĂƌĞŶƚŽŵƉĂŶLJ͍/ĨLJĞƐ͕ƚŚĞŶŝŶĚŝĐĂƚĞƚŚĞŶƵŵďĞƌŽĨ such subsidiary Company(s).  EŽ͘ĂĐŚƐƵďƐŝĚŝĂƌLJĐŽŵƉĂŶLJŚĂƐŝŶĚĞƉĞŶĚĞŶƚďƵƐŝŶĞƐƐƌĞƐƉŽŶƐŝďŝůŝƚLJŝŶŝƟĂƟǀĞƐ͘ ϯ͘ ŽĂŶLJŽƚŚĞƌĞŶƟƚLJͬĞŶƟƟĞƐ;Ğ͘Ő͘ƐƵƉƉůŝĞƌƐ͕ĚŝƐƚƌŝďƵƚŽƌƐĞƚĐ͘ͿƚŚĂƚƚŚĞŽŵƉĂŶLJĚŽĞƐďƵƐŝŶĞƐƐǁŝƚŚ͕ƉĂƌƟĐŝƉĂƚĞŝŶƚŚĞZ ŝŶŝƟĂƟǀĞƐŽĨƚŚĞŽŵƉĂŶLJ͍/ĨLJĞƐ͕ƚŚĞŶŝŶĚŝĐĂƚĞƚŚĞƉĞƌĐĞŶƚĂŐĞŽĨƐƵĐŚĞŶƟƚLJͬĞŶƟƟĞƐ͍΀>ĞƐƐƚŚĂŶϯϬй͕ϯϬͲϲϬй͕DŽƌĞƚŚĂŶ ϲϬй΁ EŽ͘

SECTION D Z/E&KZDd/KE

1. Details of Director/Directors responsible for BR ĂͿ ĞƚĂŝůƐŽĨƚŚĞŝƌĞĐƚŽƌͬŝƌĞĐƚŽƌƐƌĞƐƉŽŶƐŝďůĞĨŽƌŝŵƉůĞŵĞŶƚĂƟŽŶŽĨƚŚĞZƉŽůŝĐLJͬƉŽůŝĐŝĞƐ Sr. WĂƌƟĐƵůĂƌƐ Details EŽ͘ ϭ͘ /EEƵŵďĞƌ ϬϬϬϮϱϵϳϬ Ϯ͘ EĂŵĞ ^ŚƌŝZĂǀŝhƉƉĂů ϯ͘ ĞƐŝŐŶĂƟŽŶ DĂŶĂŐŝŶŐŝƌĞĐƚŽƌΘK ďͿ ĞƚĂŝůƐŽĨƚŚĞZŚĞĂĚ Sr. WĂƌƟĐƵůĂƌƐ Details EŽ͘ ϭ͘ /EEƵŵďĞƌ;ŝĨĂƉƉůŝĐĂďůĞͿ E Ϯ͘ EĂŵĞ ^ŚƌŝZĂũĞĞǀŚĂĚĂƵƌŝĂ ϯ͘ ĞƐŝŐŶĂƟŽŶ ŝƌĞĐƚŽƌͲ,Z ϰ͘ dĞůĞƉŚŽŶĞEƵŵďĞƌ ϬϭϭͲϰϭϰϲϮϰϬϲ ϱ͘ ͲŵĂŝů/Ě ƌĂũĞĞǀ͘ďŚĂĚĂƵƌŝĂΛũŝŶĚĂůƐƚĞĞů͘ĐŽŵ

123 Annual Report 2012-13  ŶĚ^Z WϵͲ sĂůƵĞ Customer Customer

WϴͲ 'ƌŽǁƚŚ Inclusive Inclusive

WϳͲ WŽůŝĐLJ ƐƉdž͘ Advocacy ͬƉŽůŝĐŝĞƐ͘ĂƐƉdž͘ ƚŽĂůůĞŵƉůŽLJĞĞƐ͘ WϲͲ Environment WƌĞǀĞŶƟŽŶŽĨ/ŶƐŝĚĞƌdƌĂĚŝŶŐĂƌĞĂǀĂŝůĂďůĞŽŶ

WϱͲ Rights ,ƵŵĂŶ ŽĚĞŽĨ/ŶƚĞƌŶĂůWƌŽĐĞĚƵƌĞƐĂŶĚŽŶĚƵĐƚĨŽƌWƌĞǀĞŶƟŽŶŽĨ/ŶƐŝĚĞƌ ŶƚWŽůŝĐLJ͕dŽƚĂůWƌŽĚƵĐƟǀŝƚLJDĂŶĂŐĞŵĞŶƚWŽůŝĐLJ͕ŶĞƌŐLJWŽůŝĐLJĂ WϰͲ Stakeholder Stakeholder Engagement WϯͲ ǁĞůůͲďĞŝŶŐ Employee’s Employee’s ŚƩƉ͗ͬͬǁǁǁ͘ũŝŶĚĂůƐƚĞĞůƉŽǁĞƌ͘ĐŽŵͬŝŶǀĞƐƚŽƌƐͬĐŽƌƉŽƌĂƚĞͲŐŽǀĞƌŶĂŶĐĞ͘Ă KƚŚĞƌƉŽůŝĐŝĞƐĂƌĞĂǀĂŝůĂďůĞŽŶƚŚĞŝŶƚƌĂŶĞƚĂŶĚĂƌĞĂǀĂŝůĂďůĞ

WŽůŝĐLJĂƌĞĂǀĂŝůĂďůĞŽŶŚƩƉ͗ͬͬǁǁǁ͘ũŝŶĚĂůƐƚĞĞůƉŽǁĞƌ͘ĐŽŵͬĂďŽƵƚͲƵƐ WϮͲ WƌŽĚƵĐƚ Life Cycle Cycle Life Sustainability ĂƚƚŚĞĞŶĚŽĨƚŚŝƐƚĂďůĞ͘ zͬEͿ͗ dƌĂĚŝŶŐŝŶ^ŚĂƌĞƐ͕ĂŶĚŽĚĞŽĨŽƌƉŽƌĂƚĞŝƐĐůŽƐƵƌĞWƌĂĐƟĐĞĨŽƌ

z z z zzz zzz z zzzzzzzzzz z zzz zzz zzzzzzzEz E E E EEE EEE and ƚŚŝĐƐ͕ ŽĚĞŽĨŽŶĚƵĐƚĨŽƌŽĂƌĚŽĨŝƌĞĐƚŽƌƐĂŶĚ^ĞŶŝŽƌDĂŶĂŐĞŵĞŶƚ͕ Transparency Transparency Accountability YƵĂůŝƚLJWŽůŝĐLJ͕^ĂĨĞƚLJĂŶĚKĐĐƵƉĂƟŽŶĂů,ĞĂůƚŚWŽůŝĐLJ͕ŶǀŝƌŽŶŵĞ 3

2

1 ŽĞƐƚŚĞŽŵƉĂŶLJŚĂǀĞĂ ƐƉĞĐŝĮĞĚĐŽŵŵŝƩĞĞŽĨƚŚĞ ŽĂƌĚͬŝƌĞĐƚŽƌͬKĸĐŝĂůƚŽ ŽǀĞƌƐĞĞƚŚĞŝŵƉůĞŵĞŶƚĂƟŽŶŽĨ ƚŚĞƉŽůŝĐLJ͍ YƵĞƐƟŽŶƐ WϭͲ ŽLJŽƵŚĂǀĞƉŽůŝĐLJͬƉŽůŝĐŝĞƐĨŽƌ͘͘͘ ,ĂƐƚŚĞƉŽůŝĐLJďĞĞŶĨŽƌŵƵůĂƚĞĚ ŝŶĐŽŶƐƵůƚĂƟŽŶǁŝƚŚƚŚĞƌĞůĞǀĂŶƚ ƐƚĂŬĞŚŽůĚĞƌƐ͍ ŽĞƐƚŚĞƉŽůŝĐLJĐŽŶĨŽƌŵƚŽ ĂŶLJŶĂƟŽŶĂůͬŝŶƚĞƌŶĂƟŽŶĂů ƐƚĂŶĚĂƌĚƐ͍/ĨLJĞƐ͕ƐƉĞĐŝĨLJ͍ ,ĂƐƚŚĞƉŽůŝĐLJďĞĞŶĂƉƉƌŽǀĞĚ ďLJƚŚĞŽĂƌĚ͍/ĨLJĞƐ͕ŚĂƐŝƚďĞĞŶ ƐŝŐŶĞĚďLJDͬŽǁŶĞƌͬKͬ ĂƉƉƌŽƉƌŝĂƚĞŽĂƌĚŝƌĞĐƚŽƌ͍ /ŶĚŝĐĂƚĞƚŚĞůŝŶŬĨŽƌƚŚĞƉŽůŝĐLJƚŽ ďĞǀŝĞǁĞĚŽŶůŝŶĞ͍ 1 Sl. EŽ͘ 5 ϲ 2 3 4 Ϯ͘ WƌŝŶĐŝƉůĞͲǁŝƐĞ;ĂƐƉĞƌEs'ƐͿZWŽůŝĐLJͬƉŽůŝĐŝĞƐ;ZĞƉůLJŝŶ  dŚĞůŝƐƚŽĨƉŽůŝĐŝĞƐǁŚŝĐŚĂĚĚƌĞƐƐƚŚĞƐĞƉƌŝŶĐŝƉůĞƐŝƐŵĂƉƉĞĚ

124 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ƵƐŝŶĞƐƐZĞƐƉŽŶƐŝďŝůŝƚLJZĞƉŽƌƚ WϵͲ sĂůƵĞ Customer Customer WϴͲ 'ƌŽǁƚŚ Inclusive Inclusive

WϳͲ WŽůŝĐLJ Advocacy ŝƌĞĐƚŽƌ,ZŽƌDͬK͘ WϲͲ ĞƐƉƌŽǀŝĚĞĚďLJǀĂƌŝŽƵƐŵŝŶŝƐƚƌŝĞƐ͘ Environment

WϱͲ Rights ,ƵŵĂŶ WϰͲ Stakeholder Stakeholder Engagement WϯͲ ǁĞůůͲďĞŝŶŐ Employee’s Employee’s

WϮͲ ŶĚŽƉĞŶŚŽƵƐĞĂŶĚƚŽǁŶŚĂůůƐĞƐƐŝŽŶƐǁĞƌĞĐŽŶĚƵĐƚĞĚ͘ ĞƌĞƐƉĞĐƟǀĞŽĂƌĚŽŵŵŝƩĞĞ͘dŚĞƉŽůŝĐLJŝƐƚŚĞŶƐŝŐŶĞĚďLJĞŝƚŚĞƌ WƌŽĚƵĐƚ ƐƚƉƌĂĐƟĐĞƐĂŶĚĂƌĞĂůƐŽŝŶůŝŶĞǁŝƚŚƌĞůĞǀĂŶƚŶĂƟŽŶĂůŐƵŝĚĞůŝŶ Life Cycle Cycle Life Sustainability

z z z zzz zzz z z z zzz zzz z z z zzz zzz zzEEEzEzz and ƚŚŝĐƐ͕ Transparency Transparency Accountability YƵĞƐƟŽŶƐ WϭͲ ƐƚƌƵĐƚƵƌĞƚŽŝŵƉůĞŵĞŶƚƚŚĞƉŽůŝĐLJͬ ƉŽůŝĐŝĞƐ͍ ƌĞĚƌĞƐƐĂůŵĞĐŚĂŶŝƐŵƌĞůĂƚĞĚƚŽƚŚĞ ƉŽůŝĐLJͬƉŽůŝĐŝĞƐƚŽĂĚĚƌĞƐƐƐƚĂŬĞŚŽůĚĞƌƐ͛ ŐƌŝĞǀĂŶĐĞƐƌĞůĂƚĞĚƚŽƚŚĞƉŽůŝĐLJͬ ƉŽůŝĐŝĞƐ͍ ,ĂƐƚŚĞŽŵƉĂŶLJĐĂƌƌŝĞĚŽƵƚ ŝŶĚĞƉĞŶĚĞŶƚĂƵĚŝƚͬĞǀĂůƵĂƟŽŶŽĨƚŚĞ ǁŽƌŬŝŶŐŽĨƚŚŝƐƉŽůŝĐLJďLJĂŶŝŶƚĞƌŶĂůŽƌ ĞdžƚĞƌŶĂůĂŐĞŶĐLJ͍ ,ĂƐƚŚĞƉŽůŝĐLJďĞĞŶĨŽƌŵĂůůLJ ĐŽŵŵƵŶŝĐĂƚĞĚƚŽĂůůƌĞůĞǀĂŶƚŝŶƚĞƌŶĂů ĂŶĚĞdžƚĞƌŶĂůƐƚĂŬĞŚŽůĚĞƌƐ͍ Sl. EŽ͘ ϴ ŽĞƐƚŚĞŽŵƉĂŶLJŚĂǀĞŝŶͲŚŽƵƐĞ ϵ ŽĞƐƚŚĞŽŵƉĂŶLJŚĂǀĞĂŐƌŝĞǀĂŶĐĞ 10 7 ϭ tŚŝůĞĨŽƌŵƵůĂƟŶŐƚŚĞƉŽůŝĐŝĞƐ͕ƚŽƉŵĂŶĂŐĞŵĞŶƚǁĂƐĐŽŶƐƵůƚĞĚĂ Ϯ dŚĞƉŽůŝĐŝĞƐĚƌĂǁŝŶƐƉŝƌĂƟŽŶĨƌŽŵŶĂƟŽŶĂůĂŶĚŝŶƚĞƌŶĂƟŽŶĂůďĞ ϯ WŽůŝĐŝĞƐĂƌĞƌĞǀŝĞǁĞĚďLJƚŚĞŽĂƌĚŵĞŵďĞƌƐĂŶĚĂƉƉƌŽǀĞĚďLJƚŚ

Annual Report 2012-13 ϭϮϱ ůůƚŚĞƉŽůŝĐŝĞƐŝŶ:^W>ĂƌĞĐĂƌǀĞĚĨƌŽŵŽƵƌ'ƵŝĚŝŶŐWƌŝŶĐŝƉůĞƐĂŶĚŽƌĞsĂůƵĞƐ͘dŚĞƐĞƉŽůŝĐŝĞƐĂƌĞŵĂƉƉĞĚƚŽĞĂĐŚƉƌŝŶĐŝƉůĞŚĞƌĞƵŶĚĞƌ͗

WƌŝŶĐŝƉůĞ ƉƉůŝĐĂďůĞ:^W>͛ƐƉŽůŝĐŝĞƐ WZ/E/W>ϭ Ă͘ 'ƌŽƵƉŽĚĞŽĨŽŶĚƵĐƚ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚĐŽŶĚƵĐƚĂŶĚŐŽǀĞƌŶƚŚĞŵƐĞůǀĞƐǁŝƚŚƚŚŝĐƐ͕ ď͘ ŽĚĞŽĨŽŶĚƵĐƚĨŽƌŽĂƌĚŽĨŝƌĞĐƚŽƌƐĂŶĚ^ĞŶŝŽƌ dƌĂŶƐƉĂƌĞŶĐLJĂŶĚĐĐŽƵŶƚĂďŝůŝƚLJ Management Đ͘ ŽĚĞŽĨŽƌƉŽƌĂƚĞŝƐĐůŽƐƵƌĞWƌĂĐƟĐĞĨŽƌ WƌĞǀĞŶƟŽŶŽĨ/ŶƐŝĚĞƌdƌĂĚŝŶŐ Ě͘ ŽĚĞŽĨ/ŶƚĞƌŶĂůWƌŽĐĞĚƵƌĞƐĂŶĚŽŶĚƵĐƚĨŽƌ WƌĞǀĞŶƟŽŶŽĨ/ŶƐŝĚĞƌdƌĂĚŝŶŐŝŶ^ŚĂƌĞƐŽĨdŚĞ ŽŵƉĂŶLJ Ğ͘ 'ƌŽƵƉtŚŝƐƚůĞůŽǁĞƌWŽůŝĐLJ WZ/E/W>Ϯ Ă͘ ŶǀŝƌŽŶŵĞŶƚWŽůŝĐLJ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƉƌŽǀŝĚĞŐŽŽĚƐĂŶĚƐĞƌǀŝĐĞƐƚŚĂƚĂƌĞƐĂĨĞĂŶĚ ď͘ YƵĂůŝƚLJWŽůŝĐLJ ĐŽŶƚƌŝďƵƚĞƚŽƐƵƐƚĂŝŶĂďŝůŝƚLJƚŚƌŽƵŐŚŽƵƚƚŚĞŝƌůŝĨĞĐLJĐůĞ Đ͘ dŽƚĂůWƌŽĚƵĐƟǀŝƚLJDĂŶĂŐĞŵĞŶƚWŽůŝĐLJ WZ/E/W>ϯ Ă͘ 'ƌŽƵƉŽĚĞŽĨŽŶĚƵĐƚ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƉƌŽŵŽƚĞƚŚĞǁĞůůͲďĞŝŶŐŽĨĂůůĞŵƉůŽLJĞĞƐ ď͘ ŽĚĞŽĨŽŶĚƵĐƚĨŽƌŽĂƌĚŽĨŝƌĞĐƚŽƌƐĂŶĚ^ĞŶŝŽƌ Management Đ͘ 'ƌŽƵƉtŚŝƐƚůĞůŽǁĞƌWŽůŝĐLJ Ě͘ ^ĂĨĞƚLJΘKĐĐƵƉĂƟŽŶĂů,ĞĂůƚŚWŽůŝĐLJ Ğ͘ ŶǀŝƌŽŶŵĞŶƚWŽůŝĐLJ WZ/E/W>ϰ Ă͘ 'ƌŽƵƉŽĚĞŽĨŽŶĚƵĐƚ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƌĞƐƉĞĐƚƚŚĞŝŶƚĞƌĞƐƚƐŽĨ͕ĂŶĚďĞƌĞƐƉŽŶƐŝǀĞƚŽǁĂƌĚƐ ď͘ ^ZWŽůŝĐLJ ĂůůƐƚĂŬĞŚŽůĚĞƌƐ͕ĞƐƉĞĐŝĂůůLJƚŚŽƐĞǁŚŽĂƌĞĚŝƐĂĚǀĂŶƚĂŐĞĚ͕ǀƵůŶĞƌĂďůĞ and marginalised WZ/E/W>ϱ Ă͘ 'ƌŽƵƉŽĚĞŽĨŽŶĚƵĐƚ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƌĞƐƉĞĐƚĂŶĚƉƌŽŵŽƚĞŚƵŵĂŶƌŝŐŚƚƐ ď͘ 'ƌŽƵƉtŚŝƐƚůĞůŽǁĞƌWŽůŝĐLJ Đ͘ ^ĂĨĞƚLJΘKĐĐƵƉĂƟŽŶĂů,ĞĂůƚŚWŽůŝĐLJ WZ/E/W>ϲ Ă͘ ŽĚĞŽĨŽŶĚƵĐƚĨŽƌŽĂƌĚŽĨŝƌĞĐƚŽƌƐĂŶĚ^ĞŶŝŽƌ Management

ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƌĞƐƉĞĐƚ͕ƉƌŽƚĞĐƚ͕ĂŶĚŵĂŬĞĞīŽƌƚƐƚŽƌĞƐƚŽƌĞƚŚĞ ď͘ ŶǀŝƌŽŶŵĞŶƚWŽůŝĐLJ ĞŶǀŝƌŽŶŵĞŶƚ Đ͘ ŶĞƌŐLJWŽůŝĐLJ Ě͘ 'ƌŽƵƉŽĚĞŽĨŽŶĚƵĐƚ WZ/E/W>ϳ Ă͘ 'ƌŽƵƉŽĚĞŽĨŽŶĚƵĐƚ ƵƐŝŶĞƐƐĞƐ͕ǁŚĞŶĞŶŐĂŐĞĚŝŶŝŶŇƵĞŶĐŝŶŐƉƵďůŝĐĂŶĚƌĞŐƵůĂƚŽƌLJƉŽůŝĐLJ͕ ƐŚŽƵůĚĚŽƐŽŝŶĂƌĞƐƉŽŶƐŝďůĞŵĂŶŶĞƌ WZ/E/W>ϴ Ă͘ ^ZWŽůŝĐLJ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƐƵƉƉŽƌƚŝŶĐůƵƐŝǀĞŐƌŽǁƚŚĂŶĚĞƋƵŝƚĂďůĞĚĞǀĞůŽƉŵĞŶƚ WZ/E/W>ϵ Ă͘ YƵĂůŝƚLJWŽůŝĐLJ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚĞŶŐĂŐĞǁŝƚŚĂŶĚƉƌŽǀŝĚĞǀĂůƵĞƚŽƚŚĞŝƌĐƵƐƚŽŵĞƌƐ ď͘ 'ƌŽƵƉŽĚĞŽĨŽŶĚƵĐƚ ĂŶĚĐŽŶƐƵŵĞƌƐŝŶĂƌĞƐƉŽŶƐŝďůĞŵĂŶŶĞƌ

126 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ƵƐŝŶĞƐƐZĞƐƉŽŶƐŝďŝůŝƚLJZĞƉŽƌƚ

Ϯ͘ /ĨĂŶƐǁĞƌƚŽ^͘EŽ͘ϭĂŐĂŝŶƐƚĂŶLJƉƌŝŶĐŝƉůĞ͕ŝƐ͚EŽ͕͛ƉůĞĂƐĞĞdžƉůĂŝŶǁŚLJ͗

Sl. YƵĞƐƟŽŶƐ Wϭ WϮ Wϯ Wϰ Wϱ Wϲ Wϳ Wϴ Wϵ EŽ͘ 1 dŚĞ ŽŵƉĂŶLJ ŚĂƐ ŶŽƚ ƵŶĚĞƌƐƚŽŽĚ ƚŚĞWƌŝŶĐŝƉůĞƐ 2 dŚĞ ŽŵƉĂŶLJ ŝƐ ŶŽƚ Ăƚ Ă ƐƚĂŐĞ ǁŚĞƌĞ ŝƚ ĮŶĚƐ ŝƚƐĞůĨ ŝŶ Ă ƉŽƐŝƟŽŶ ƚŽ ĨŽƌŵƵůĂƚĞ ĂŶĚ ŝŵƉůĞŵĞŶƚ ƚŚĞ ƉŽůŝĐŝĞƐŽŶƐƉĞĐŝĮĞĚƉƌŝŶĐŝƉůĞƐ 3 dŚĞ ŽŵƉĂŶLJ ĚŽĞƐ ŶŽƚ ŚĂǀĞ EŽƚƉƉůŝĐĂďůĞ ĮŶĂŶĐŝĂů Žƌ ŵĂŶƉŽǁĞƌ ƌĞƐŽƵƌĐĞƐ ĂǀĂŝůĂďůĞĨŽƌƚŚĞƚĂƐŬ 4 /ƚŝƐƉůĂŶŶĞĚƚŽďĞĚŽŶĞǁŝƚŚŝŶŶĞdžƚ ϲŵŽŶƚŚƐ 5 /ƚŝƐƉůĂŶŶĞĚƚŽďĞĚŽŶĞǁŝƚŚŝŶƚŚĞ ŶĞdžƚϭLJĞĂƌ ϲ ŶLJŽƚŚĞƌƌĞĂƐŽŶ;ƉůĞĂƐĞƐƉĞĐŝĨLJͿ

3. Governance related to BR /ŶĚŝĐĂƚĞƚŚĞĨƌĞƋƵĞŶĐLJǁŝƚŚǁŚŝĐŚƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐ͕ŽŵŵŝƩĞĞŽĨƚŚĞŽĂƌĚŽƌKƚŽĂƐƐĞƐƐƚŚĞZƉĞƌĨŽƌŵĂŶĐĞŽĨ ƚŚĞŽŵƉĂŶLJ͘  dŚĞŽĂƌĚŽŵŵŝƩĞĞƐŵĞĞƚŽŶĐĞĞǀĞƌLJƋƵĂƌƚĞƌƚŽĂƐƐĞƐƐƚŚĞZƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚĞŽŵƉĂŶLJ͘ ŽĞƐƚŚĞŽŵƉĂŶLJƉƵďůŝƐŚĂZŽƌĂ^ƵƐƚĂŝŶĂďŝůŝƚLJZĞƉŽƌƚ͍tŚĂƚŝƐƚŚĞŚLJƉĞƌůŝŶŬĨŽƌǀŝĞǁŝŶŐƚŚŝƐƌĞƉŽƌƚ͍,ŽǁĨƌĞƋƵĞŶƚůLJ ŝƚŝƐƉƵďůŝƐŚĞĚ͍  dŚŝƐŝƐƚŚĞĮƌƐƚŶŶƵĂůƵƐŝŶĞƐƐZĞƐƉŽŶƐŝďŝůŝƚLJZĞƉŽƌƚ͘dŚŝƐŝƐďĞŝŶŐƉƵďůŝƐŚĞĚĂƐƉĂƌƚŽĨƚŚĞŶŶƵĂůZĞƉŽƌƚĂŶĚŝƐĂǀĂŝůĂďůĞĂƚ ƚŚĞŽŵƉĂŶLJ͛ƐǁĞďƐŝƚĞǁǁǁ͘ũŝŶĚĂůƐƚĞĞůƉŽǁĞƌ͘ĐŽŵ͘

SECTION E WZ/E/W>ͳt/^WZ&KZDE

WZ/E/W>ϭ Businesses should conduct and govern ŝŶƉůĂĐĞƚŽĞŶƐƵƌĞĐŽŶĮĚĞŶƟĂůŝƚLJĂŶĚƉƌŽƚĞĐƚƚŚĞǁŚŝƐƚůĞ ƚŚĞŵƐĞůǀĞƐǁŝƚŚƚŚŝĐƐ͕dƌĂŶƐƉĂƌĞŶĐLJĂŶĚ ďůŽǁĞƌ ĨƌŽŵ ĂŶLJ ĨŽƌŵ ŽĨ ŚĂƌĂƐƐŵĞŶƚͬǀŝĐƟŵŝƐĂƟŽŶ͘ dŚĞ Accountability ƉŽůŝĐLJĐŽǀĞƌƐŝŶƐƚĂŶĐĞƐƉĞƌƚĂŝŶŝŶŐƚŽŶĞŐůŝŐĞŶĐĞŝŵƉĂĐƟŶŐ ƉƵďůŝĐ ŚĞĂůƚŚ ĂŶĚ ƐĂĨĞƚLJ͕ ĐƌŝŵŝŶĂů ŽīĞŶĐĞ ĂŶĚ ƵŶĞƚŚŝĐĂůͬ ϭ͘ ŽĞƐƚŚĞƉŽůŝĐLJƌĞůĂƟŶŐƚŽĞƚŚŝĐƐ͕ďƌŝďĞƌLJĂŶĚĐŽƌƌƵƉƟŽŶ ĨĂǀŽƵƌĞĚͬďŝĂƐĞĚďĞŚĂǀŝŽƵƌĞƚĐ͘ ĐŽǀĞƌ ŽŶůLJ ƚŚĞ ŽŵƉĂŶLJ͍ zĞƐͬEŽ͘ ŽĞƐ ŝƚ ĞdžƚĞŶĚ Ϯ͘ ,Žǁ ŵĂŶLJ ƐƚĂŬĞŚŽůĚĞƌ ĐŽŵƉůĂŝŶƚƐ ŚĂǀĞ ďĞĞŶ ƌĞĐĞŝǀĞĚ ƚŽ ƚŚĞ 'ƌŽƵƉͬ:ŽŝŶƚ sĞŶƚƵƌĞƐͬ^ƵƉƉůŝĞƌƐͬŽŶƚƌĂĐƚŽƌƐͬ ŝŶ ƚŚĞ ƉĂƐƚ ĮŶĂŶĐŝĂů LJĞĂƌ ĂŶĚ ǁŚĂƚ ƉĞƌĐĞŶƚĂŐĞ ǁĂƐ E'KƐͬKƚŚĞƌƐ͍ ƐĂƟƐĨĂĐƚŽƌŝůLJƌĞƐŽůǀĞĚďLJƚŚĞŵĂŶĂŐĞŵĞŶƚ͍  ƚ :^W>͕ ƚŚĞ ƉƌŝŶĐŝƉůĞƐ ŽĨ ĞƚŚŝĐƐ ĂŶĚ ƚƌĂŶƐƉĂƌĞŶĐLJ ĂƌĞ  Ϯϴ ĐŽŵƉůĂŝŶƚƐ ǁĞƌĞ ƌĞĐĞŝǀĞĚ ĨƌŽŵ ƚŚĞ ŽŵƉĂŶLJ͚Ɛ ĂĚŽƉƚĞĚ ĂĐƌŽƐƐ ƚŚĞ ŽƌŐĂŶŝƐĂƟŽŶ ƚŚƌŽƵŐŚ ŽƵƌ ƉŽůŝĐŝĞƐ ƐŚĂƌĞŚŽůĚĞƌƐͬŝŶǀĞƐƚŽƌƐ ŝŶ ϮϬϭϮͲϭϯ ĂŶĚ Ăůů ƚŚĞƐĞ ǁĞƌĞ ƉĞƌƚĂŝŶŝŶŐ ƚŽ ƚŚŝƐ ƉƌŝŶĐŝƉůĞ͘ dŚĞƐĞ ƉŽůŝĐŝĞƐ ĂƌĞ ĂƉƉůŝĐĂďůĞ ƌĞƐŽůǀĞĚďLJ:^W>ŝŶƚŚĞƐĂŵĞLJĞĂƌ͘ƉĂƌƚĨƌŽŵƚŚĞƐĞ͕ǁĞĚŝĚ ƚŽĂůůĞŵƉůŽLJĞĞƐĂŶĚŽĸĐĞƌƐŽĨ:^W>͕ĂŶĚŝƚƐƐƵďƐŝĚŝĂƌŝĞƐ͘ ŶŽƚƌĞĐĞŝǀĞĂŶLJĐŽŵƉůĂŝŶƚƐŝŶϮϬϭϮͲϭϯ͘ ƚŚŝĐĂů ƌĞƋƵŝƌĞŵĞŶƚƐ ĂƌĞ ŝŵƉŽƐĞĚ ŽŶ ƐƵƉƉůŝĞƌƐ ĂŶĚ ĐŽŶƚƌĂĐƚŽƌƐ ƚŚƌŽƵŐŚ ĂƉƉƌŽƉƌŝĂƚĞ ĐůĂƵƐĞƐ ŝŶ ŽƵƌ ĐŽŶƚƌĂĐƚƐ WZ/E/W>Ϯ Businesses should provide goods and ǁŚŝĐŚƚŚĞĐŽƵŶƚĞƌƉĂƌƚLJŝƐŽďůŝŐĂƚĞĚƚŽĨŽůůŽǁ͘dŚĞƐĞĐůĂƵƐĞƐ services that are safe and contribute to ƉƌŽŚŝďŝƚ ĞŵƉůŽLJŵĞŶƚ ŽĨ ĐŚŝůĚ ůĂďŽƵƌ͕ ĚŝƐĐƌŝŵŝŶĂƟŽŶ ĂŶĚ sustainability throughout their life cycle ŽƚŚĞƌĐŽƌƌƵƉƟǀĞƉƌĂĐƟĐĞƐ͘ ϭ͘ >ŝƐƚƵƉƚŽϯŽĨLJŽƵƌƉƌŽĚƵĐƚƐŽƌƐĞƌǀŝĐĞƐǁŚŽƐĞĚĞƐŝŐŶŚĂƐ  dŚĞ'ƌŽƵƉtŚŝƐƚůĞůŽǁĞƌWŽůŝĐLJĞdžƚĞŶĚƐŽƵƌĐŽŵŵŝƚŵĞŶƚ ŝŶĐŽƌƉŽƌĂƚĞĚƐŽĐŝĂůŽƌĞŶǀŝƌŽŶŵĞŶƚĂůĐŽŶĐĞƌŶƐ͕ƌŝƐŬƐĂŶĚͬ ƚŽ ŚŝŐŚ ƐƚĂŶĚĂƌĚƐ ŽĨ ĞƚŚŝĐĂů ĂŶĚ ƉƌŽĨĞƐƐŝŽŶĂů ĐŽŶĚƵĐƚ ďLJ ŽƌŽƉƉŽƌƚƵŶŝƟĞƐ͘ ƉƌŽǀŝĚŝŶŐ ĞŵƉůŽLJĞĞƐ Ă ĨĂŝƌ ĂŶĚ ƚƌĂŶƐƉĂƌĞŶƚ ƉůĂƞŽƌŵ ĨŽƌ Parallel Flange Beams and Columns- JSPL pioneered the ƌĂŝƐŝŶŐƚŚĞŝƌĐŽŶĐĞƌŶƐ͘^ƵĸĐŝĞŶƚŵĞĐŚĂŶŝƐŵƐŚĂǀĞďĞĞŶƉƵƚ ƉƌŽĚƵĐƟŽŶŽĨŵĞĚŝƵŵĂŶĚŚĞĂǀLJ,ŽƚZŽůůĞĚWĂƌĂůůĞů&ůĂŶŐĞ

127 Annual Report 2012-13 ĞĂŵƐĂŶĚŽůƵŵŶ^ĞĐƟŽŶƐŝŶ/ŶĚŝĂĂŶĚŝƐĂůƐŽƚŚĞůĞĂĚŝŶŐ  :^W> ĂůƐŽ ĞŶŐĂŐĞƐ ǁŝƚŚ ůŽĐĂů ĐŽŶƚƌĂĐƚŽƌƐ ĨŽƌ ŚŝƌŝŶŐ ŽĨ ƐƵƉƉůŝĞƌŝŶ/ŶĚŝĂ͘ƵĞƚŽƚŚĞŚŝŐŚĞƌůŽĂĚĐĂƌƌLJŝŶŐĐĂƉĂĐŝƚLJ͕ ĞƋƵŝƉŵĞŶƚ ;Ğ͘Ő͘ :͕ ŵŝŶŝŶŐ ĞƋƵŝƉŵĞŶƚ͕ ĚŽnjĞƌƐ͕ ƚƌĂĐƚŽƌƐ͕ ƚŚĞƐĞ ƐĞĐƟŽŶƐ ĞŶĂďůĞ ƐĂǀŝŶŐƐ ŝŶ ƐƚĞĞů ĐŽŶƐƵŵƉƟŽŶ ĚƵŵƉĞƌƐ͕ ĞƚĐ͘Ϳ ĂŶĚ ǁŽƌŬĞƌƐ ĨŽƌ ƚŚĞ ĐŽŶƐƚƌƵĐƟŽŶ ĂŶĚ ĂŶĚ ƉƌŽǀŝĚĞ ƵůƟŵĂƚĞ ĚĞƐŝŐŶ ŇĞdžŝďŝůŝƚLJ ƚŽ ƚŚĞ ƐƚƌƵĐƚƵƌĂů ŽƉĞƌĂƟŽŶ ŽĨ ŝƚƐ ƉůĂŶƚƐ͘ DŝŶŽƌ ĨĂďƌŝĐĂƟŽŶ ǁŽƌŬƐ ĂŶĚ ĚĞƐŝŐŶĞƌƐ͘dŚŝƐĂůƐŽƌĞƐƵůƚƐŝŶƌĞĚƵĐĞĚĞŶĞƌŐLJĐŽŶƐƵŵƉƟŽŶ ŵĂƚĞƌŝĂůƐ ĂƌĞ ĂůƐŽ ƐŽƵƌĐĞĚ ĨƌŽŵ ůŽĐĂů ƐƵƉƉůŝĞƌƐ͘ :^W> ŝŶƚƌĂŶƐƉŽƌƚĂƟŽŶĂŶĚĐŽŶƐƚƌƵĐƟŽŶ͘ ĐŽŶƟŶƵŽƵƐůLJ ƚĂŬĞƐ ƐƚĞƉƐ ƚŽ ďƵŝůĚ ĂŶĚ ŝŵƉƌŽǀĞ ƚŚĞ ƐŬŝůůƐ ĂŶĚĐĂƉĂĐŝƚLJŽĨƚŚĞůŽĐĂůĐŽŶƚƌĂĐƚŽƌƐ͘sĞŶĚŽƌĚĞǀĞůŽƉŵĞŶƚ Ϯ͘ &Žƌ ĞĂĐŚ ƐƵĐŚ ƉƌŽĚƵĐƚ͕ ƉƌŽǀŝĚĞ ƚŚĞ ĨŽůůŽǁŝŶŐ ĚĞƚĂŝůƐ ŝŶ ƌĞƐƉĞĐƚŽĨƌĞƐŽƵƌĐĞƵƐĞ;ĞŶĞƌŐLJ͕ǁĂƚĞƌ͕ƌĂǁŵĂƚĞƌŝĂůĞƚĐ͘Ϳ ƉƌŽŐƌĂŵŵĞƐ ĂƌĞ ĞŶĐŽƵƌĂŐĞĚ ĨŽƌ ƚŚĞ ůŽĐĂů ƐƵƉƉůŝĞƌƐ ĂŶĚ ƉĞƌƵŶŝƚŽĨƉƌŽĚƵĐƚ;ŽƉƟŽŶĂůͿ͘ ĂƌĞ ĐŽŶĚƵĐƚĞĚ ŽŶ Ă ƉĞƌŝŽĚŝĐ ďĂƐŝƐ͕ ĚĞƉĞŶĚŝŶŐ ƵƉŽŶ ƚŚĞ ŝŶƚĞƌĂĐƟŽŶƐǁŝƚŚƚŚĞǀĞŶĚŽƌƐ͘  dŚĞ ƉƌŽĚƵĐƚ ͞WĂƌĂůůĞů &ůĂŶŐĞ ĞĂŵƐ ĂŶĚ ŽůƵŵŶƐ͟ ŝƐ ŵĂŶƵĨĂĐƚƵƌĞĚ Ăƚ ŽŶůLJ ŽŶĞ ŽĨ ŽƵƌ ĨĂĐŝůŝƟĞƐ͘ dŚĞ ĞŶĞƌŐLJ  ůůŽƵƌƉůĂŶƚƐƉƌŽĐƵƌĞǀĞŐĞƚĂďůĞƐĂŶĚŽƚŚĞƌĨŽŽĚŝƚĞŵƐĨƌŽŵ ĂŶĚ ǁĂƚĞƌ ĐŽŶƐƵŵƉƟŽŶ ƉĞƌ ƚŽŶŶĞ ŽĨ ĐƌƵĚĞ ƐƚĞĞů ;ƚĐƐͿ ůŽĐĂůƉƌŽĚƵĐĞƌƐĂŶĚǀĞŶĚŽƌƐ͘:^W>ĂůƐŽĞŶŐĂŐĞƐǁŝƚŚƚŚĞƐĞ ƉƌŽĚƵĐƟŽŶĨŽƌƚŚĂƚĞŶƟƌĞĨĂĐŝůŝƚLJŝƐ͗ ůŽĐĂů ǀĞŶĚŽƌƐ ŝŶ ĐĂƉĂĐŝƚLJ ďƵŝůĚŝŶŐ ĂŶĚ ƐŬŝůů ƵƉŐƌĂĚĂƟŽŶ ĂĐƟǀŝƟĞƐ͘/Ŷ:^W>ƚŽǁŶƐŚŝƉƐ͕ůŽĐĂůĨĂƌŵĞƌƐ͕ƵŶĚĞƌƚŚĞĂĞŐŝƐ 2011-12 ϮϬϭϮͲϭϯ ŽĨůŽĐĂů&ĂƌŵĞƌůƵďƐ͕ŚĂǀĞďĞĞŶƉƌŽǀŝĚĞĚĐŽƵŶƚĞƌƐĨŽƌƐĂůĞ ŶĞƌŐLJ;':ͬƚĐƐͿ Ϯϵ͘ϱϴ ϯϬ͘ϭϯ ŽĨǀĞŐĞƚĂďůĞƐĂŶĚĨĂƌŵƉƌŽĚƵĐĞ͘ tĂƚĞƌ;<ŝůŽůŝƚƌĞƐͬƚĐƐͿ Ϯ͘ϱϳ Ϯ͘ϯϰ  /ŶƐŽŵĞŽĨŽƵƌƉůĂŶƚƐ͕ŵŝůŬĂŶĚŵŝůŬƉƌŽĚƵĐƚƐĨŽƌƚŚĞĐŽůŽŶLJ͕ ŐƵĞƐƚŚŽƵƐĞ͕ĐĂŶƚĞĞŶƐ͕ĞƚĐ͘ĂƌĞƐŽƵƌĐĞĚĨƌŽŵƚŚĞůŽĐĂů^ĞůĨ 3. Does the Company have procedures in place for ,ĞůƉ 'ƌŽƵƉƐ ;^,'ƐͿ ƌƵŶ ďLJ ǁŽŵĞŶ͘ dŚĞƐĞ ^,'Ɛ ǁĞƌĞ ƐƵƐƚĂŝŶĂďůĞ ƐŽƵƌĐŝŶŐ ;ŝŶĐůƵĚŝŶŐ ƚƌĂŶƐƉŽƌƚĂƟŽŶͿ͍  /Ĩ LJĞƐ͕ ĂůƐŽ ƉƌŽǀŝĚĞĚ ƚƌĂŝŶŝŶŐƐ ŽŶ ůŝǀĞƐƚŽĐŬ ŵĂŶĂŐĞŵĞŶƚ͕ ďĞƐƚ ǁŚĂƚƉĞƌĐĞŶƚĂŐĞŽĨLJŽƵƌŝŶƉƵƚƐǁĂƐƐŽƵƌĐĞĚƐƵƐƚĂŝŶĂďůLJ͍ ƉƌĂĐƟĐĞƐ͕ ĞƚĐ͘ :^W> ŚĂƐ ĂůƐŽ ƐƵƉƉŽƌƚĞĚ ƚŚĞ ĚĞǀĞůŽƉŵĞŶƚ ůƐŽ͕ƉƌŽǀŝĚĞĚĞƚĂŝůƐƚŚĞƌĞŽĨ͕ŝŶĂďŽƵƚϱϬǁŽƌĚƐŽƌƐŽ͘ ŽĨ ŝƌƌŝŐĂƟŽŶ ĂŶĚ ĂŐƌŝĐƵůƚƵƌĞ ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ŝŶ ƚŚĞ ůŽĐĂů  zĞƐ͕ :^W> ŚĂƐ ƉƵƚ ŝŶ ƉůĂĐĞ ƉƌŽĐĞĚƵƌĞƐ ĨŽƌ ƐŽƵƌĐŝŶŐ ŝŶƉƵƚƐ ĐŽŵŵƵŶŝƟĞƐ͘ dŚƵƐ͕ :^W> ŚĂƐ ŚĞůƉĞĚ ĐƌĞĂƚĞ Ă ƐƵĐĐĞƐƐĨƵů ƐƵƐƚĂŝŶĂďůLJ ĂŶĚ ŝƐ ĂůƐŽ ůŽŽŬŝŶŐ Ăƚ ĨƵƌƚŚĞƌ ŝŶĐŽƌƉŽƌĂƟŶŐ ďƵƐŝŶĞƐƐŵŽĚĞů͕ǁŚŝĐŚƐƚƌĂƚĞŐŝĐĂůůLJďĞŶĞĮƚƐƵƐĂƐǁĞůůĂƐ ƐƵƐƚĂŝŶĂďŝůŝƚLJ ŝŶ ŝƚƐ ƐƵƉƉůLJ ĐŚĂŝŶ͘ /Ŷ ƚŚĞ ĂƌĞĂ ŽĨ ĞƚŚŝĐĂů ƚŚĞůŽĐĂůĐŽŵŵƵŶŝƟĞƐ͘ ƐŽƵƌĐŝŶŐ͕ :^W> ƌĞƋƵŝƌĞƐ ŝƚƐ ƐƵƉƉůŝĞƌƐ ŝŶĐůƵĚŝŶŐ ůĂďŽƵƌ 5. Does the Company have a mechanism to recycle products ĐŽŶƚƌĂĐƚŽƌƐƚŽĨŽůůŽǁŐƵŝĚĞůŝŶĞƐƉĞƌƚĂŝŶŝŶŐƚŽŚƵŵĂŶƌŝŐŚƚƐ ůŝŬĞ ĐŚŝůĚ ůĂďŽƵƌ͕ǁŽƌŬŝŶŐ ŚŽƵƌƐ͕ ŽĐĐƵƉĂƟŽŶĂů ŚĞĂůƚŚ ĂŶĚ ĂŶĚǁĂƐƚĞ͍/ĨLJĞƐ͕ǁŚĂƚŝƐƚŚĞƉĞƌĐĞŶƚĂŐĞŽĨƌĞĐLJĐůŝŶŐŽĨ ƐĂĨĞƚLJ͘ŽŵƉůŝĂŶĐĞĂŐĂŝŶƐƚƚŚĞƐĞŽďůŝŐĂƟŽŶƐŝƐĐŽŶƟŶƵŽƵƐůLJ ƉƌŽĚƵĐƚƐĂŶĚǁĂƐƚĞ;ƐĞƉĂƌĂƚĞůLJĂƐфϱй͕ϱͲϭϬй͕хϭϬйͿ͘ ŵŽŶŝƚŽƌĞĚďLJŽƵƌƚĞĂŵƐĂŶĚƚŚĞĐŽŶƚƌĂĐƚŽƌŝƐƌĞƉƌŝŵĂŶĚĞĚ  zĞƐ͕ :^W> ŚĂƐ ĂĚŽƉƚĞĚ ƚŚĞ ϯ ͞Z͟Ɛ ;ZĞĚƵĐĞ͕ ZĞƵƐĞ ĂŶĚ ŝŶĐĂƐĞŽĨĂǀŝŽůĂƟŽŶ͘dŚĞƐƵƉƉůŝĞƌƐĂůƐŽŚĂǀĞƚŽĐŽŵƉůLJǁŝƚŚ ZĞĐLJĐůĞͿŝŶŝƚƐŽƉĞƌĂƟŽŶƐĂŶĚŵĂŬĞƐĂůůƉŽƐƐŝďůĞĞīŽƌƚƐƚŽ ĞŶǀŝƌŽŶŵĞŶƚĂůƌĞƋƵŝƌĞŵĞŶƚƐůŝŬĞ/^KϭϰϬϬϭĐĞƌƟĮĐĂƟŽŶ͘ ŵŝŶŝŵŝƐĞ ǁĂƐƚĞ ĂŶĚ ŵĂdžŝŵŝƐĞ ƌĞƵƐĞ ĂŶĚ ƌĞĐLJĐůŝŶŐ͘ :^W>  ƚ ŽŶĞ ŽĨ ŽƵƌ ƵƉĐŽŵŝŶŐ ƉůĂŶƚƐ͕ ǁĞ ƌĞƋƵŝƌĞ Ăůů ƐƵƉƉůŝĞƌƐͬ ŚĂƐůĂŝĚĚŽǁŶƐLJƐƚĞŵĂƟĐƉƌŽĐĞĚƵƌĞƐƚŽŝĚĞŶƟĨLJ͕ƐĞŐƌĞŐĂƚĞ͕ ĐŽŶƚƌĂĐƚŽƌƐͬǀĞŶĚŽƌƐ ƚŽ ĨŽůůŽǁ ^ ϴϬϬϬ ŐƵŝĚĞůŝŶĞƐ͘ dŚĞƐĞ ĂŶĂůLJƐĞ ƚŚĞ ĐŚĞŵŝĐĂůͬ ƉŚLJƐŝĐĂů ĐŽŵƉŽƐŝƟŽŶ ŽĨ ǁĂƐƚĞ ĂŶĚ ŐƵŝĚĞůŝŶĞƐ ƉĞƌƚĂŝŶ ƚŽ ĐƌŝƟĐĂů ĂƐƉĞĐƚƐ ŽĨ ŚƵŵĂŶ ƌŝŐŚƚƐ ƵƐĞŝƚďĂĐŬŝŶƚŚĞƉƌŽĐĞƐƐ͘ ůŝŬĞ ĐŚŝůĚ ůĂďŽƵƌ͕ ĨŽƌĐĞĚ ĂŶĚ ĐŽŵƉƵůƐŽƌLJ ůĂďŽƵƌ͕ ŚĞĂůƚŚ  ϭϬϬ й ŽĨ ǁĂƐƚĞǁĂƚĞƌ ŐĞŶĞƌĂƚĞĚ ĚƵƌŝŶŐ ƚŚĞ ŽƉĞƌĂƟŽŶƐ ŝƐ ĂŶĚƐĂĨĞƚLJ͕ĨƌĞĞĚŽŵ ŽĨ ĂƐƐŽĐŝĂƟŽŶ ĂŶĚƌŝŐŚƚ ƚŽ ĐŽůůĞĐƟǀĞ ƚƌĞĂƚĞĚ ŝŶ ŋƵĞŶƚ dƌĞĂƚŵĞŶƚ WůĂŶƚ ;dWͿ ĂŶĚ ƵƟůŝƐĞĚ ĨŽƌ ďĂƌŐĂŝŶŝŶŐ͕ ĚŝƐĐƌŝŵŝŶĂƟŽŶ͕ ĚŝƐĐŝƉůŝŶĂƌLJ ƉƌĂĐƟĐĞƐ͕ ĂŶĚ ĂĐƟǀŝƟĞƐ ƐƵĐŚ ĂƐ ĚƵƐƚ ƐƵƉƉƌĞƐƐŝŽŶ͕ ŚŽƌƟĐƵůƚƵƌĞ͕ ĞƚĐ͘ ϭϬϬ ƌĞŵƵŶĞƌĂƟŽŶĂŶĚǁŽƌŬŝŶŐŚŽƵƌƐ͘ йŽĨƚŚĞŽƌŐĂŶŝĐǁĂƐƚĞŐĞŶĞƌĂƚĞĚĂƚ:^W>ŝƐĐŽŶǀĞƌƚĞĚŝŶƚŽ  tĞĂƌĞĂůƐŽƉůĂŶŶŝŶŐƚŽĐŽŶƐƚƌƵĐƚĂϮϭϬŬŵůŽŶŐƉŝƉĞůŝŶĞ ŵĂŶƵƌĞ ĂŶĚ ƵƟůŝƐĞĚ ŝŶͲŚŽƵƐĞ͘ ƚ ŽŶĞ ŽĨ ŽƵƌ ƉůĂŶƚƐ͕ ƚŚĞ ĨŽƌ ƚƌĂŶƐƉŽƌƟŶŐ ŝƌŽŶ ŽƌĞ ŝŶ ƐůƵƌƌLJ ĨŽƌŵ ĚŝƌĞĐƚůLJ ĨƌŽŵ ƚŚĞ ŽŵƉĂŶLJ ŚĂƐ ŝŶƐƚĂůůĞĚ Ă ϯ dW ďŝŽͲŵĞƚŚĂŶĂƟŽŶ ƉůĂŶƚ ƚŽ ƐŽƵƌĐĞ ƚŽ ŽŶĞ ŽĨ ŽƵƌ ŶĞǁ ƉůĂŶƚƐ͘ dŚĞ ƉŝƉĞůŝŶĞ ǁŝůů ĞŶƚĂŝů ŐĞŶĞƌĂƚĞďŝŽŐĂƐĨƌŽŵŽƌŐĂŶŝĐǁĂƐƚĞƐ͘ ĞŶǀŝƌŽŶŵĞŶƚĂůďĞŶĞĮƚƐďLJĂǀŽŝĚŝŶŐĚƵƐƚĂŶĚŶŽŝƐĞƉŽůůƵƟŽŶ  dŚĞ ŇLJ ĂƐŚ ŐĞŶĞƌĂƚĞĚ ŝŶ ŽƵƌ ƉůĂŶƚƐ ŝƐ ƵƟůŝƐĞĚ ĞŝƚŚĞƌ ŝŶ ĂŶĚǁŝůůƚŚƵƐƉŽƐŝƟǀĞůLJŝŵƉĂĐƚƚŚĞůŽĐĂůĐŽŵŵƵŶŝƟĞƐ͘ ďĂĐŬ ĮůůŝŶŐ ŽĨ ƚŚĞ ĐŽĂů ŵŝŶĞ Žƌ ŝŶ Đŝǀŝů ǁŽƌŬƐ Žƌ ďƌŝĐŬ ϰ͘ ,ĂƐ ƚŚĞ ŽŵƉĂŶLJ ƚĂŬĞŶ ĂŶLJ ƐƚĞƉƐ ƚŽ ƉƌŽĐƵƌĞ ŐŽŽĚƐ ŵĂŶƵĨĂĐƚƵƌŝŶŐ͘ ϭϬϬ й ŽĨ ƚŚĞ ŽǀĞƌďƵƌĚĞŶ ŐĞŶĞƌĂƚĞĚ ĂŶĚ ƐĞƌǀŝĐĞƐ ĨƌŽŵ ůŽĐĂů Θ ƐŵĂůů ƉƌŽĚƵĐĞƌƐ͕ ŝŶĐůƵĚŝŶŐ ĨƌŽŵƚŚĞŝƌŽŶŽƌĞŵŝŶĞŝƐƵƟůŝƐĞĚŝŶƌĞĐůĂŝŵŝŶŐƚŚĞŵŝŶĞĚ ĐŽŵŵƵŶŝƟĞƐ ƐƵƌƌŽƵŶĚŝŶŐ ƚŚĞŝƌ ƉůĂĐĞ ŽĨ ǁŽƌŬ͍ /Ĩ LJĞƐ͕ ĂƌĞĂƐ͕ǁŚŝĐŚĂƌĞƚŚĞŶƵƟůŝƐĞĚĨŽƌƉůĂŶƚĂƟŽŶĂĐƟǀŝƟĞƐ͘dŚĞ ǁŚĂƚƐƚĞƉƐŚĂǀĞďĞĞŶƚĂŬĞŶƚŽŝŵƉƌŽǀĞƚŚĞŝƌĐĂƉĂĐŝƚLJĂŶĚ ůĞŌŽǀĞƌͬďLJͲƉƌŽĚƵĐƚƐƐƵĐŚĂƐŵŝůůƐĐĂůĞ͕ŵĞƚĂůĐŚŝƉƐĂŶĚƐůĂŐ capability of local and small vendors? ĂƌĞƌĞĐLJĐůĞĚĂƐƌĂǁŵĂƚĞƌŝĂůƐĨŽƌǀĂƌŝŽƵƐƉƌŽĐĞƐƐĞƐ͘KƚŚĞƌ  zĞƐ͕ :^W> ǀĂůƵĞƐ ůŽĐĂů ƉƌŽĐƵƌĞŵĞŶƚ ĂŶĚ ƚĂŬĞƐ ƐƚĞƉƐ ƚŽ ŚĂnjĂƌĚŽƵƐǁĂƐƚĞƐ͕ǁŚŝĐŚĐĂŶŶŽƚďĞƌĞĐLJĐůĞĚ͕ĂƌĞĚŝƐƉŽƐĞĚͲ ƉƌŽĐƵƌĞŐŽŽĚƐĂŶĚƐĞƌǀŝĐĞƐĨƌŽŵůŽĐĂůΘƐŵĂůůƉƌŽĚƵĐĞƌƐ ŽīƚŚƌŽƵŐŚĂƵƚŚŽƌŝƐĞĚƌĞĐLJĐůĞƌƐ͘ ĂŶĚ ǀĞŶĚŽƌƐ ƐƉĞĐŝĮĐĂůůLJ ƌĞůĂƚĞĚ ƚŽ ŚŝƌŝŶŐ ŽĨ ĞƋƵŝƉŵĞŶƚ ĂŶĚ ƐĞƌǀŝĐĞƐ ĂŶĚ ƉƌŽĐƵƌĞŵĞŶƚ ŽĨ ŵŝŶŽƌ ƌĂǁ ŵĂƚĞƌŝĂůƐ͕ ƐƚĂƟŽŶĂƌLJŝƚĞŵƐĂŶĚĨŽŽĚƐƵƉƉůŝĞƐ͘

128 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ƵƐŝŶĞƐƐZĞƐƉŽŶƐŝďŝůŝƚLJZĞƉŽƌƚ

WZ/E/W>ϯ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƉƌŽŵŽƚĞƚŚĞǁĞůůͲďĞŝŶŐ ϱ͘ ŽLJŽƵŚĂǀĞĂŶĞŵƉůŽLJĞĞĂƐƐŽĐŝĂƟŽŶƚŚĂƚŝƐƌĞĐŽŐŶŝƐĞĚ by management? of all employees  :ŝŶĚĂů ^ƚĞĞů Θ WŽǁĞƌ &ĂĐƚŽƌLJ tŽƌŬĞƌƐ hŶŝŽŶ Ăƚ ZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ͕ĞdžŝƐƟŶŐƐŝŶĐĞϭϵϵϰ͘ ϭ͘ WůĞĂƐĞŝŶĚŝĐĂƚĞƚŚĞdŽƚĂůŶƵŵďĞƌŽĨĞŵƉůŽLJĞĞƐ͘  ϳ͕ϰϴϴ  :ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌDĂnjĚŽŽƌ^ĂŶŐŚĂ͕Ăƚ^ĂŶŬĞƌũĂŶŐĂ͕ ŝƐƚ͘ ŶŐƵů͕ KĚŝƐŚĂ͕ ĞdžŝƐƟŶŐ ƐŝŶĐĞ ^ĞƉƚĞŵďĞƌ ϮϬϭϬ Ϯ͘ WůĞĂƐĞŝŶĚŝĐĂƚĞƚŚĞdŽƚĂůŶƵŵďĞƌŽĨĞŵƉůŽLJĞĞƐŚŝƌĞĚŽŶ ;ĨŽƌĐŽŶƚƌĂĐƚǁŽƌŬĞƌƐͿ͘ temporary/contractual/casual basis. 740  :ŝŶĚĂů DĂnjĚŽŽƌ ^ĂďŚĂ͕ Ăƚ ĂĚŬĞƌũĂŶŐĂ͕ ŝƐƚ͘ ŶŐƵů͕ KĚŝƐŚĂ͕ ĞdžŝƐƟŶŐ ƐŝŶĐĞ EŽǀĞŵďĞƌ ϮϬϭϭ ;ĨŽƌ ĐŽŶƚƌĂĐƚ ϯ͘ WůĞĂƐĞŝŶĚŝĐĂƚĞƚŚĞEƵŵďĞƌŽĨƉĞƌŵĂŶĞŶƚǁŽŵĞŶĞŵƉůŽLJĞĞƐ͘ ǁŽƌŬĞƌƐͿ͘  Ϯϵϵ 6. What percentage of your permanent employees is ϰ͘ WůĞĂƐĞ ŝŶĚŝĐĂƚĞ ƚŚĞ EƵŵďĞƌ ŽĨ ƉĞƌŵĂŶĞŶƚ ĞŵƉůŽLJĞĞƐ ŵĞŵďĞƌƐŽĨƚŚŝƐƌĞĐŽŐŶŝƐĞĚĞŵƉůŽLJĞĞĂƐƐŽĐŝĂƟŽŶ͍ ǁŝƚŚĚŝƐĂďŝůŝƟĞƐ͘  ϭϬϬйĂƚZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ;EŽŶͲdžĞĐƵƟǀĞWĞƌŵĂŶĞŶƚ 5 ŵƉůŽLJĞĞƐͿ

ϳ͘ WůĞĂƐĞŝŶĚŝĐĂƚĞƚŚĞEƵŵďĞƌŽĨĐŽŵƉůĂŝŶƚƐƌĞůĂƟŶŐƚŽĐŚŝůĚůĂďŽƵƌ͕ĨŽƌĐĞĚůĂďŽƵƌ͕ŝŶǀŽůƵŶƚĂƌLJůĂďŽƵƌ͕ƐĞdžƵĂůŚĂƌĂƐƐŵĞŶƚŝŶƚŚĞ ůĂƐƚĮŶĂŶĐŝĂůLJĞĂƌĂŶĚƉĞŶĚŝŶŐ͕ĂƐŽŶƚŚĞĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͘ ^͘EŽ͘ Category EŽŽĨĐŽŵƉůĂŝŶƚƐĮůĞĚĚƵƌŝŶŐ EŽŽĨĐŽŵƉůĂŝŶƚƐƉĞŶĚŝŶŐĂƐ ƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ ŽŶĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ ϭ͘ ŚŝůĚůĂďŽƵƌͬĨŽƌĐĞĚůĂďŽƵƌͬŝŶǀŽůƵŶƚĂƌLJůĂďŽƵƌ Eŝů Eŝů Ϯ͘ ^ĞdžƵĂůŚĂƌĂƐƐŵĞŶƚ Eŝů Eŝů ϯ͘ ŝƐĐƌŝŵŝŶĂƚŽƌLJĞŵƉůŽLJŵĞŶƚ Eŝů Eŝů

ϴ͘ tŚĂƚƉĞƌĐĞŶƚĂŐĞŽĨLJŽƵƌƵŶĚĞƌŵĞŶƟŽŶĞĚĞŵƉůŽLJĞĞƐǁĞƌĞŐŝǀĞŶƐĂĨĞƚLJΘƐŬŝůůƵƉŐƌĂĚĂƟŽŶƚƌĂŝŶŝŶŐŝŶƚŚĞůĂƐƚLJĞĂƌ͍ WĂƌƟĐƵůĂƌƐ й WĞƌŵĂŶĞŶƚŵƉůŽLJĞĞƐ 75 WĞƌŵĂŶĞŶƚtŽŵĞŶŵƉůŽLJĞĞƐ ϳϵ ĂƐƵĂůͬdĞŵƉŽƌĂƌLJͬŽŶƚƌĂĐƚƵĂůŵƉůŽLJĞĞƐ 100 ŵƉůŽLJĞĞƐǁŝƚŚŝƐĂďŝůŝƟĞƐ 100

WZ/E/W>ϰ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƌĞƐƉĞĐƚƚŚĞŝŶƚĞƌĞƐƚƐŽĨ͕ ĂŶĚďĞƌĞƐƉŽŶƐŝǀĞƚŽǁĂƌĚƐĂůůƐƚĂŬĞŚŽůĚĞƌƐ͕ ĞƐƉĞĐŝĂůůLJƚŚŽƐĞǁŚŽĂƌĞĚŝƐĂĚǀĂŶƚĂŐĞĚ͕ vulnerable and marginalised

ϭ͘ ,ĂƐ ƚŚĞ ŽŵƉĂŶLJ ŵĂƉƉĞĚ ŝƚƐ ŝŶƚĞƌŶĂů ĂŶĚ ĞdžƚĞƌŶĂů stakeholders?  zĞƐ͕:^W>ŚĂƐŵĂƉƉĞĚŝƚƐŝŶƚĞƌŶĂůĂŶĚĞdžƚĞƌŶĂůƐƚĂŬĞŚŽůĚĞƌƐ ĂŶĚ ŚĂƐ ƌĞĐŽŐŶŝƐĞĚ ĞŵƉůŽLJĞĞƐ͕ ĐƵƐƚŽŵĞƌƐ͕ ƐŚĂƌĞŚŽůĚĞƌƐͬ ŝŶǀĞƐƚŽƌƐ͕ ŐŽǀĞƌŶŵĞŶƚƐ ĂŶĚ ƌĞŐƵůĂƚŽƌLJ ĂƵƚŚŽƌŝƟĞƐ͕ ĐŽŵŵƵŶŝƟĞƐ ƐƵƌƌŽƵŶĚŝŶŐ ŽƵƌ ŽƉĞƌĂƟŽŶƐ ;ŝŶĐůƵĚŝŶŐ ĚŝƐƉůĂĐĞĚ ĨĂŵŝůŝĞƐͿ͕ ďƵƐŝŶĞƐƐ ƉĂƌƚŶĞƌƐ ;ƐƵƉƉůŝĞƌƐ͕ ĚŝƐƚƌŝďƵƚŽƌƐ͕ĐŽŶƚƌĂĐƚŽƌƐ͕ƐƚŽĐŬLJĂƌĚŽƉĞƌĂƚŽƌƐĞƚĐ͘Ϳ͕ƉĂƌƚŶĞƌ E'KƐ͕ŵĞĚŝĂ͕ĂŶĚŝŶĚƵƐƚƌLJĂŶĚƚƌĂĚĞĂƐƐŽĐŝĂƟŽŶƐĂƐŝƚƐŬĞLJ ƐƚĂŬĞŚŽůĚĞƌƐ͘ Ϯ͘ KƵƚ ŽĨ ƚŚĞ ĂďŽǀĞ͕ ŚĂƐ ƚŚĞ ŽŵƉĂŶLJ ŝĚĞŶƟĮĞĚ ƚŚĞ ĚŝƐĂĚǀĂŶƚĂŐĞĚ͕ǀƵůŶĞƌĂďůĞΘŵĂƌŐŝŶĂůŝƐĞĚƐƚĂŬĞŚŽůĚĞƌƐ͍  zĞƐ͕ :^W> ŚĂƐ ŝĚĞŶƟĮĞĚ ĚŝƐĂĚǀĂŶƚĂŐĞĚ͕ ǀƵůŶĞƌĂďůĞ Θ ŵĂƌŐŝŶĂůŝƐĞĚƐƚĂŬĞŚŽůĚĞƌƐ͘

129 Annual Report 2012-13 ϯ͘ ƌĞ ƚŚĞƌĞ ĂŶLJ ƐƉĞĐŝĂů ŝŶŝƟĂƟǀĞƐ ƚĂŬĞŶ ďLJ ƚŚĞ ŽŵƉĂŶLJ ƚŽ ĞŶŐĂŐĞ ǁŝƚŚ ƚŚĞ ĚŝƐĂĚǀĂŶƚĂŐĞĚ͕ ǀƵůŶĞƌĂďůĞ ĂŶĚ ŵĂƌŐŝŶĂůŝƐĞĚ ƐƚĂŬĞŚŽůĚĞƌƐ͍/ĨƐŽ͕ƉƌŽǀŝĚĞĚĞƚĂŝůƐƚŚĞƌĞŽĨ͕ŝŶĂďŽƵƚϱϬǁŽƌĚƐŽƌƐŽ͘  zĞƐ͕ ĂƐ ƉĂƌƚ ŽĨ ŽƵƌ ŽƌƉŽƌĂƚĞ ^ŽĐŝĂů ZĞƐƉŽŶƐŝďŝůŝƚLJ ;^ZͿ ŝŶŝƟĂƟǀĞƐ͕ ǁĞ ƵŶĚĞƌƚĂŬĞ ĂĐƟǀŝƟĞƐ ĨŽƌ ƚŚĞ ďĞŶĞĮƚ ŽĨ ƚŚĞ ŝĚĞŶƟĮĞĚ ĚŝƐĂĚǀĂŶƚĂŐĞĚƐƚĂŬĞŚŽůĚĞƌŐƌŽƵƉƐ͘&ĞǁŝŶŝƟĂƟǀĞƐĂƌĞůŝƐƚĞĚďĞůŽǁ͗

Stakeholder Group

DŝŐƌĂŶƚtŽƌŬĞƌƐ Women

/ŶŝƟĂƟǀĞƐ /ŶŝƟĂƟǀĞƐ  ǁĂƌĞŶĞƐƐŽŶ,ĞĂůƚŚƌĞůĂƚĞĚŝƐƐƵĞƐĂŶĚƐĂŶŝƚĂƟŽŶ  &ŽƌŵŝŶŐŶĞǁƐĞůĨͲŚĞůƉŐƌŽƵƉƐ;^,'ƐͿĂŶĚƐƚƌĞŶŐƚŚĞŶŝŶŐ ĞdžŝƐƟŶŐŽŶĞƐ  sŽůƵŶƚĂƌLJ,/sͬ/^ƚĞƐƟŶŐ  ^ŬŝůůĚĞǀĞůŽƉŵĞŶƚĂŶĚŝŶĐŽŵĞŐĞŶĞƌĂƟŽŶĂĐƟǀŝƟĞƐůŝŬĞ  ĂƌĂŵďŚͲ WƌĞƐĐŚŽŽů ƉƌŽŐƌĂŵŵĞ ĨŽƌ ŵŝŐƌĂŶƚ ǁŽƌŬĞƌƐ͛ ƚĂŝůŽƌŝŶŐ͕ ƐƟƚĐŚŝŶŐ͕ ƉƌĞƉĂƌŝŶŐ ũƵƚĞ ƉƌŽĚƵĐƚƐ͕ ĂŐĂƌďĂƫ ĐŚŝůĚƌĞŶ ŵĂŬŝŶŐĞƚĐ͘  /ŶĐƌĞĂƐŝŶŐĂĐĐĞƐƐƚŽĐƌĞĚŝƚ Girl Child  ,ĞĂůƚŚ ĐĂŵƉƐ ŝŶĐůƵĚŝŶŐ ƉƌŽŐƌĂŵŵĞƐ ĨŽƌ ƉƌĞŐŶĂŶƚ women and mothers /ŶŝƟĂƟǀĞƐ  <ŝƐŚŽƌŝĞdžƉƌĞƐƐͲĚŽůĞƐĐĞŶƚĂŶĂĞŵŝĂĐŽŶƚƌŽůůŝŶŐƉƌŽŐƌĂŵŵĞ ŝīĞƌĞŶƚůLJͲĂďůĞĚ/ŶĚŝǀŝĚƵĂůƐ  <ŝƐŚŽƌŝ DĂŶĚĂůƐ Ͳ ZĞƉƌŽĚƵĐƟǀĞ ŚĞĂůƚŚ ĂŶĚ ƉĞƌƐŽŶĂů ŚLJŐŝĞŶĞĂǁĂƌĞŶĞƐƐƉƌŽŐƌĂŵŵĞ /ŶŝƟĂƟǀĞƐ  ,ĞĂůƚŚĂŶĚŶƵƚƌŝƟŽŶĂǁĂƌĞŶĞƐƐĐĂŵƉƐ  ƐŚĂ ĐĞŶƚƌĞƐ ʹ WƌŽǀŝĚŝŶŐ ĐŚŝůĚƌĞŶ ǁŝƚŚ ƐƉĞĐŝĂů ŶĞĞĚƐ  ^ĐŚŽůĂƌƐŚŝƉƉƌŽŐƌĂŵŵĞƐ Ă ƉůĂƞŽƌŵ ƚŽ ĂĐĐĞƐƐ ĐŽŵŵƵŶŝƚLJ ďĂƐĞĚ ƌĞŚĂďŝůŝƚĂƟŽŶ ƐĞƌǀŝĐĞƐ  ŽƵŶƐĞůůŝŶŐĨŽƌĨĂŵŝůŝĞƐĂŶĚƉĂƌĞŶƚƐ

dƌŝďĂůWĞŽƉůĞ  ĂŵƉƐĨŽƌƌĂŝƐŝŶŐĂǁĂƌĞŶĞƐƐĂŶĚǀŽĐĂƟŽŶĂůĐŽƵƌƐĞƐ

/ŶŝƟĂƟǀĞƐ Elderly  ŝƌŽŚĂƌ dƌŝďĂů ĞǀĞůŽƉŵĞŶƚ  ƉƌŽŐƌĂŵŵĞ Ăƚ WĂƚƌĂƚƵ͕ :ŚĂƌŬŚĂŶĚ ʹ ĞǀĞůŽƉŵĞŶƚ ŽƌŝĞŶƚĞĚ ĂĐƟǀŝƟĞƐ ǁŝƚŚ ĨŽĐƵƐĞĚ ŝŶŝƟĂƟǀĞƐ ĨŽƌ ǁŽŵĞŶ͕ ĐŚŝůĚƌĞŶ ĂŶĚ ŵĂƌŐŝŶĂů /ŶŝƟĂƟǀĞƐ ĚĂŝƌLJĨĂƌŵĞƌƐ  ,ĞĂůƚŚĐĂŵƉƐ

WZ/E/W>ϱ Businesses should respect and promote ĂƐƉĞĐƚƐ ŽĨ ĚŝƐĐƌŝŵŝŶĂƟŽŶ ĂŶĚ ŚĂƌĂƐƐŵĞŶƚ ĂŶĚ ƌĞŝŶĨŽƌĐĞƐ human rights :^W>͛ƐǀĂůƵĞŽĨďĞŝŶŐĂŶĞƋƵĂůŽƉƉŽƌƚƵŶŝƚLJĞŵƉůŽLJĞƌŝŶĂůů ĂƐƉĞĐƚƐ͘tĞŚĂǀĞnjĞƌŽƚŽůĞƌĂŶĐĞĨŽƌĚŝƐĐƌŝŵŝŶĂƟŽŶďĂƐĞĚ ŽŶ ĂŶLJ ŐƌŽƵŶĚƐ͘ ůů ŽƵƌ ƉĂƌƚŶĞƌƐ ;ƐƵƉƉůŝĞƌƐ͕ ĐŽŶƚƌĂĐƚŽƌƐ͕ 1. Does the policy of the Company on human rights cover E'KƐͿ ĂƌĞ ĐŽŶƚƌĂĐƚƵĂůůLJ ŽďůŝŐĞĚ ƚŽ ƌĞƐƉĞĐƚ ŚƵŵĂŶ ƌŝŐŚƚƐ ŽŶůLJƚŚĞŽŵƉĂŶLJŽƌĞdžƚĞŶĚƚŽƚŚĞ'ƌŽƵƉͬ:ŽŝŶƚsĞŶƚƵƌĞƐͬ ǁŚŝĐŚ ĂŵŽŶŐ ŽƚŚĞƌ ĂƐƉĞĐƚƐ ƉƌŽŚŝďŝƚ ĐŚŝůĚ ĞŵƉůŽLJŵĞŶƚ͕ ^ƵƉƉůŝĞƌƐͬŽŶƚƌĂĐƚŽƌƐͬE'KƐͬKƚŚĞƌƐ͍ ŐƵĂƌĂŶƚĞĞƐŵŝŶŝŵƵŵǁĂŐĞƐĂŶĚƐƉĞĐŝĮĞƐŽƚŚĞƌĞŵƉůŽLJĞĞ  dŚĞ ŝƐƐƵĞƐ ƌĞůĂƚĞĚ ƚŽ ŚƵŵĂŶ ƌŝŐŚƚƐ ĂƌĞ ĐŽǀĞƌĞĚ ƵŶĚĞƌ ǁĞůĨĂƌĞƌĞŐƵůĂƟŽŶƐƉĞƌƚĂŝŶŝŶŐƚŽǁĂŐĞƐĂŶĚǁŽƌŬŝŶŐŚŽƵƌƐ͘ ŽƵƌ'ƌŽƵƉŽĚĞŽĨŽŶĚƵĐƚ͕'ƌŽƵƉtŚŝƐƚůĞůŽǁĞƌWŽůŝĐLJ  tĞ ĂƌĞ ĐŽŵŵŝƩĞĚ ƚŽ ƉƌŽǀŝĚŝŶŐ ƐĂĨĞ ĂŶĚ ŚĞĂůƚŚLJ ǁŽƌŬ ĂŶĚ ^ĂĨĞƚLJ Θ KĐĐƵƉĂƟŽŶĂů ,ĞĂůƚŚ WŽůŝĐLJ ĂŶĚ ĂƌĞ ĂůƐŽ ĞŶǀŝƌŽŶŵĞŶƚ ĨŽƌ Ăůů ŽƵƌ ĞŵƉůŽLJĞĞƐ ƚŚƌŽƵŐŚ ŽƵƌ ^ĂĨĞƚLJ ĞŵďĞĚĚĞĚ ŝŶ ŽƵƌ ĐŽƌƉŽƌĂƚĞ 'ƵŝĚŝŶŐ WƌŝŶĐŝƉůĞƐ͘ dŚĞƐĞ Θ KĐĐƵƉĂƟŽŶĂů ,ĞĂůƚŚ WŽůŝĐLJ ǁŚŝĐŚ ĐŽǀĞƌƐ Ăůů ĂƐƉĞĐƚƐ ŽĨ ƉŽůŝĐŝĞƐĂƌĞĂƉƉůŝĐĂďůĞƚŽĂůůĞŵƉůŽLJĞĞƐĂŶĚŽĸĐĞƌƐŽĨ:^W> ŽĐĐƵƉĂƟŽŶĂů ŚĞĂůƚŚ ĂŶĚ ƐĂĨĞƚLJ ŚĂnjĂƌĚƐ͘ ůů ĐŽŶƚƌĂĐƚŽƌƐ ĂŶĚŝƚƐƐƵďƐŝĚŝĂƌŝĞƐ͘dŚĞ'ƌŽƵƉŽĚĞŽĨŽŶĚƵĐƚĐŽǀĞƌƐĂůů ĂŶĚ ƚŚĞŝƌ ůĂďŽƵƌĞƌƐ ĂƌĞ ĂůƐŽ ƌĞƋƵŝƌĞĚ ƚŽ ĂďŝĚĞ ďLJ ƚŚĞ

130 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ƵƐŝŶĞƐƐZĞƐƉŽŶƐŝďŝůŝƚLJZĞƉŽƌƚ

ƐĂĨĞƚLJƉƌŝŶĐŝƉůĞƐĂƉƉůŝĐĂďůĞĂƚĞĂĐŚƉůĂŶƚůŽĐĂƟŽŶ͘ůůŽƵƌ ϱ͘ ,ĂƐ ƚŚĞ ŽŵƉĂŶLJ ƵŶĚĞƌƚĂŬĞŶ ĂŶLJ ŽƚŚĞƌ ŝŶŝƟĂƟǀĞƐ ĨĂĐŝůŝƟĞƐĂƌĞK,^^ͲϭϴϬϬϭĐĞƌƟĮĞĚ͘/ŶĂĚĚŝƟŽŶ͕ĂƚŽŶĞŽĨ ŽŶ ʹ ĐůĞĂŶ ƚĞĐŚŶŽůŽŐLJ͕ ĞŶĞƌŐLJ ĞĸĐŝĞŶĐLJ͕ ƌĞŶĞǁĂďůĞ ŽƵƌƵƉĐŽŵŝŶŐĨĂĐŝůŝƟĞƐ͕ĂůůĐŽŶƚƌĂĐƚŽƌƐŚĂǀĞƚŽĨŽůůŽǁƚŚĞ^ ĞŶĞƌŐLJ͕ ĞƚĐ͍͘  zͬE͘ /Ĩ LJĞƐ͕ ƉůĞĂƐĞ ŐŝǀĞ ŚLJƉĞƌůŝŶŬ ĨŽƌ ǁĞď ϴϬϬϬŐƵŝĚĞůŝŶĞƐ͘ page etc. Ϯ͘ ,ŽǁŵĂŶLJƐƚĂŬĞŚŽůĚĞƌĐŽŵƉůĂŝŶƚƐŚĂǀĞďĞĞŶƌĞĐĞŝǀĞĚŝŶ  zĞƐ͕:^W>ĐŽŶƟŶƵŽƵƐůLJƐƚƌŝǀĞƐƚŽŝŵƉƌŽǀĞĞŶĞƌŐLJĞĸĐŝĞŶĐLJ ƚŚĞƉĂƐƚĮŶĂŶĐŝĂůLJĞĂƌĂŶĚǁŚĂƚƉĞƌĐĞŶƚǁĂƐƐĂƟƐĨĂĐƚŽƌŝůLJ ĂŶĚŝŵƉůĞŵĞŶƚƌĞŶĞǁĂďůĞĞŶĞƌŐLJŝŶŝƟĂƟǀĞƐĂƚŝƚƐĞdžŝƐƟŶŐ resolved by the management? ĨĂĐŝůŝƟĞƐ͘ ŶĞƌŐLJ ŝƐ ĂůƐŽ ŽŶĞ ŽĨ ƚŚĞ ŵŽƐƚ ŝŵƉŽƌƚĂŶƚ  EŽ ĐŽŵƉůĂŝŶƚƐ ƉĞƌƚĂŝŶŝŶŐ ƚŽ ŚƵŵĂŶ ƌŝŐŚƚƐ ǀŝŽůĂƟŽŶ ǁĞƌĞ ĐŽŶƐŝĚĞƌĂƟŽŶƐŝŶƚŚĞĚĞƐŝŐŶŽĨŽƵƌƵƉĐŽŵŝŶŐƉůĂŶƚƐ͘dŚĞ ƌĞĐĞŝǀĞĚĨƌŽŵƐƚĂŬĞŚŽůĚĞƌƐŝŶƚŚĞƌĞƉŽƌƟŶŐƉĞƌŝŽĚ͘ ŽŵƉĂŶLJ ŚĂƐ ŝŶǀĞƐƚĞĚ ŝŶ Ă Ϯϰ Dt ǁŝŶĚ ƉŽǁĞƌ ƉƌŽũĞĐƚ͕ ǁŚŝĐŚ ƐƵƉƉůŝĞƐ ƌĞŶĞǁĂďůĞ ĞŶĞƌŐLJ ƚŽ ƚŚĞ ƐƚĂƚĞ ŐƌŝĚ ŽĨ WZ/E/W>ϲ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƌĞƐƉĞĐƚ͕ƉƌŽƚĞĐƚ͕ĂŶĚ DĂŚĂƌĂƐŚƚƌĂ͘ŶĞƌŐLJĞĸĐŝĞŶƚĂŶĚƌĞŶĞǁĂďůĞĞŶĞƌŐLJďĂƐĞĚ ŵĂŬĞĞīŽƌƚƐƚŽƌĞƐƚŽƌĞƚŚĞĞŶǀŝƌŽŶŵĞŶƚ ůŝŐŚƟŶŐŝŶŝƟĂƟǀĞƐŚĂǀĞďĞĞŶƵŶĚĞƌƚĂŬĞŶĂƚĂůůůŽĐĂƟŽŶƐ͘  ƚ ŽŶĞ ŽĨ ŽƵƌ ƉůĂŶƚƐ͕ ĞůĞĐƚƌŝĐŝƚLJ ŝƐ ďĞŝŶŐ ŐĞŶĞƌĂƚĞĚ ďLJ ϭ͘ ŽĞƐ ƚŚĞ ƉŽůŝĐLJ ƌĞůĂƚĞĚ ƚŽ WƌŝŶĐŝƉůĞ ϲ ĐŽǀĞƌ ŽŶůLJ ƚŚĞ ƌĞĐŽǀĞƌŝŶŐƚŚĞǁĂƐƚĞŚĞĂƚŝŶŇƵĞŐĂƐĞƐŽĨĐŽŬĞŽǀĞŶƐĂŶĚZ/ ŽŵƉĂŶLJ Žƌ ĞdžƚĞŶĚ ƚŽ ƚŚĞ 'ƌŽƵƉͬ:ŽŝŶƚ sĞŶƚƵƌĞƐͬ ŬŝůŶƐ͘KƚŚĞƌĞŶĞƌŐLJĞĸĐŝĞŶĐLJŝŶŝƟĂƟǀĞƐŝŶĐůƵĚĞŝŶƐƚĂůůĂƟŽŶŽĨ ^ƵƉƉůŝĞƌƐͬŽŶƚƌĂĐƚŽƌƐͬE'KƐͬŽƚŚĞƌƐ͘ ǀĂƌŝĂďůĞĨƌĞƋƵĞŶĐLJĚƌŝǀĞƐ͕ŝŶƐƚĂůůĂƟŽŶŽĨůŝŐŚƟŶŐĞŶĞƌŐLJƐĂǀĞƌƐ  zĞƐ͕:^W>ŚĂƐĂĚŽƉƚĞĚĂŶŶǀŝƌŽŶŵĞŶƚWŽůŝĐLJ͘tŝƚŚƌĞƐƉĞĐƚ ĂŶĚĞŶĞƌŐLJĞĸĐŝĞŶƚůĂŵƉƐ͕ĚŽǁŶƐŝnjŝŶŐŽĨŽǀĞƌƐŝnjĞĚƉƵŵƉƐ ƚŽ ƚŚĞ ƐƵƉƉůŝĞƌƐ ĂŶĚ ĐŽŶƚƌĂĐƚŽƌƐ͕ ĞŶǀŝƌŽŶŵĞŶƚĂů ƌƵůĞƐ ĂŶĚŵŽƚŽƌƐ͕ŵŽĚŝĮĐĂƟŽŶŽĨǁŚĂƌĨĚŝƐĐŚĂƌŐĞŵĞĐŚĂŶŝƐŵŝŶ ΘƌĞŐƵůĂƟŽŶƐĂƌĞĐůĞĂƌůLJƐƚĂƚĞĚŝŶƚŚĞŐĞŶĞƌĂůƚĞƌŵƐĂŶĚ ĐŽŬĞŽǀĞŶƉůĂŶƚ͕ƐĞŐƌĞŐĂƟŽŶŽĨĐŽŬĞƉƌŽĚƵĐƚƐďLJĐŽŬĞƌŽƵƚĞ ĐŽŶĚŝƟŽŶƐŽĨƚŚĞŽƌĚĞƌͬĐŽŶƚƌĂĐƚ͘ ŵŽĚŝĮĐĂƟŽŶƐŝŶĐŽŬĞŽǀĞŶƉůĂŶƚ͕ĂŶĚŝŶƐƚĂůůĂƟŽŶŽĨŽŶůŝŶĞ Ϯ͘ ŽĞƐƚŚĞŽŵƉĂŶLJŚĂǀĞƐƚƌĂƚĞŐŝĞƐͬŝŶŝƟĂƟǀĞƐƚŽĂĚĚƌĞƐƐ ŶƵĐůĞŽŶŝĐŵŽŝƐƚƵƌĞƚƌĂŶƐŵŝƩĞƌŝŶĐŽŬĞďƵŶŬĞƌƐŝŶŽƌĚĞƌƚŽ ŐůŽďĂů ĞŶǀŝƌŽŶŵĞŶƚĂů ŝƐƐƵĞƐ ƐƵĐŚ ĂƐ ĐůŝŵĂƚĞ ĐŚĂŶŐĞ͕ ƌĞĚƵĐĞĐŽŬĞĐŽŶƐƵŵƉƟŽŶŝŶďůĂƐƚĨƵƌŶĂĐĞ͘ƉĂƌƚĨƌŽŵƚŚĞ ŐůŽďĂů ǁĂƌŵŝŶŐ͕ ĞƚĐ͍͘ zͬE͘ /Ĩ LJĞƐ͕ ƉůĞĂƐĞ ŐŝǀĞ ŚLJƉĞƌůŝŶŬ ŇƵĞŐĂƐĞƐ͕ŽƚŚĞƌƉƌŽĐĞƐƐǁĂƐƚĞƐĂƌĞďĞŝŶŐƵƐĞĚŝŶĚŝīĞƌĞŶƚ ĨŽƌǁĞďƉĂŐĞĞƚĐ͘ ǁĂLJƐ͕Ğ͘Ő͘ŇLJĂƐŚŝƐƵƐĞĚŝŶďƌŝĐŬŵĂŬŝŶŐ͘ůĂƐƚĨƵƌŶĂĐĞŐĂƐ͕  zĞƐ͕ :^W> ĐŽŶƟŶƵŽƵƐůLJ ĞdžƉůŽƌĞƐ ƉŽƐƐŝďŝůŝƚLJ ŽĨ ƉƌŽĐĞƐƐ ǁŚŝĐŚŝƐĂďLJƉƌŽĚƵĐƚ͕ŝƐďĞŝŶŐƵƟůŝƐĞĚƚŽƌĞĚƵĐĞĨƵƌŶĂĐĞŽŝů ŝŵƉƌŽǀĞŵĞŶƚƐ ĂŶĚ ŝŶǀĞƐƚŵĞŶƚ ŝŶ ŶĞǁ ƚĞĐŚŶŽůŽŐŝĞƐ ĨŽƌ ĐŽŶƐƵŵƉƟŽŶ͘ĂƩĞƌLJŽƉĞƌĂƚĞĚǀĞŚŝĐůĞƐĂƌĞďĞŝŶŐƵƟůŝƐĞĚĨŽƌ ƌĞĚƵĐŝŶŐ ŽƵƌ ĞŶǀŝƌŽŶŵĞŶƚĂů ĨŽŽƚƉƌŝŶƚ ƚŽ ĂĚĚƌĞƐƐ ŐůŽďĂů ŵĂƚĞƌŝĂůƚƌĂŶƐƉŽƌƚŝŶƚŚĞƉůĂŶƚ͘ ǁĂƌŵŝŶŐ͘ DĂŶLJ ƐƵĐŚ ŝŶƚĞƌǀĞŶƟŽŶƐ ŚĂǀĞ ĂůƌĞĂĚLJ ďĞĞŶ  KƵƌƵƉĐŽŵŝŶŐƉůĂŶƚƐĂƌĞĞŵƉůŽLJŝŶŐǀĂƌŝŽƵƐĐŽŶƚĞŵƉŽƌĂƌLJ ŝŵƉůĞŵĞŶƚĞĚŽƌĂƌĞďĞŝŶŐŝŵƉůĞŵĞŶƚĞĚĂƚŽƵƌƉůĂŶƚƐ͘tĞ ƚĞĐŚŶŽůŽŐŝĞƐ ƚŽ ƌĞĚƵĐĞ ',' ĞŵŝƐƐŝŽŶƐ ŝŶĐůƵĚŝŶŐ dŽƉ ĂƌĞĐƵƌƌĞŶƚůLJĨŽƌŵƵůĂƟŶŐĂĐŽŵƉƌĞŚĞŶƐŝǀĞĂĐƟŽŶƉůĂŶŽŶ ZĞĐŽǀĞƌLJ dƵƌďŝŶĞƐ͕ ŽŬĞ ƌLJ YƵĞŶĐŚŝŶŐ͕ ĂŶĚ ƵƐĞ ŽĨ ĐůŝŵĂƚĞ ĐŚĂŶŐĞ ĨŽƌ ĚĞǀĞůŽƉŝŶŐ Ă ůŽǁ ĐĂƌďŽŶ ƐƚƌĂƚĞŐLJ ƚŽ ƐLJŶƚŚĞƟĐŐĂƐ͘tĞĂƌĞĂůƐŽƉůĂŶŶŝŶŐƚŽĐŽŶƐƚƌƵĐƚĂϮϭϬŬŵ ƐƵƉƉůĞŵĞŶƚ ŽƵƌ ĞdžŝƐƟŶŐ ĞīŽƌƚƐ͘ &Žƌ ƚŚĞ ƐĂŵĞ͕ ǁĞ ŚĂǀĞ ůŽŶŐƉŝƉĞůŝŶĞĨŽƌƚƌĂŶƐƉŽƌƟŶŐŝƌŽŶŽƌĞŝŶƐůƵƌƌLJĨŽƌŵĚŝƌĞĐƚůLJ ĐĂƌƌŝĞĚ ŽƵƚ ĐĂƌďŽŶ ĨŽŽƚͲƉƌŝŶƟŶŐ ĂĐƌŽƐƐ Ăůů ŽƵƌ ŽƉĞƌĂƟŽŶƐ ĨƌŽŵ ƚŚĞ ƐŽƵƌĐĞ ƚŽ ŽŶĞ ŽĨ ŽƵƌ ŶĞǁ ƉůĂŶƚƐ͘ dŚĞ ƉŝƉĞůŝŶĞ ĂŶĚĂƌĞĐƵƌƌĞŶƚůLJĚĞǀĞůŽƉŝŶŐĂƌŽĂĚŵĂƉĨŽƌŝŵƉůĞŵĞŶƚĂƟŽŶ ǁŝůů ĞŶƚĂŝů ĞŶǀŝƌŽŶŵĞŶƚĂů ďĞŶĞĮƚƐ ďLJ ƌĞĚƵĐŝŶŐ ĞŶĞƌŐLJ ŽĨĞŶĞƌŐLJĞĸĐŝĞŶĐLJĂŶĚƌĞŶĞǁĂďůĞĞŶĞƌŐLJŝŶŝƟĂƟǀĞƐ͘ ĐŽŶƐƵŵƉƟŽŶ ĂŶĚ ĂǀŽŝĚŝŶŐ ĚƵƐƚ ĂŶĚ ŶŽŝƐĞ ƉŽůůƵƟŽŶ͕ ĂŶĚ ϯ͘ ŽĞƐ ƚŚĞ ŽŵƉĂŶLJ ŝĚĞŶƟĨLJ ĂŶĚ ĂƐƐĞƐƐ ƉŽƚĞŶƟĂů ǁŝůů ĂůƐŽ ůĞĂĚ ƚŽ ĂǀŽŝĚĂŶĐĞ ŽĨ ƉŽƚĞŶƟĂů ŐƌĞĞŶŚŽƵƐĞ ŐĂƐ ĞŶǀŝƌŽŶŵĞŶƚĂůƌŝƐŬƐ͍zͬE ĞŵŝƐƐŝŽŶƐĨƌŽŵĂŶLJĂůƚĞƌŶĂƟǀĞŵŽĚĞŽĨƚƌĂŶƐƉŽƌƚĂƟŽŶƚŚĂƚ  zĞƐ͕ĂƐƉĂƌƚŽĨŽƵƌ/^KϭϰϬϬϭ͕/^KϵϬϬϭĂŶĚK,^^ϭϴϬϬϭ ǁŽƵůĚŚĂǀĞďĞĞŶƵƐĞĚŝŶƉůĂĐĞŽĨƚŚĞƉƌŽƉŽƐĞĚƉŝƉĞůŝŶĞ͘ ĐĞƌƟĮĐĂƟŽŶƐ͕ ǁĞ ƵŶĚĞƌƚĂŬĞ ĐŽŶƟŶƵŽƵƐ ĂƐƐĞƐƐŵĞŶƚ 6. Is the Emissions/Waste generated by the Company ŽĨ ƚŚĞ ƉŽƚĞŶƟĂů ĞŶǀŝƌŽŶŵĞŶƚĂů ƌŝƐŬƐ͘ dŚĞ ŽŵƉĂŶLJ ǁŝƚŚŝŶƚŚĞƉĞƌŵŝƐƐŝďůĞůŝŵŝƚƐŐŝǀĞŶďLJWͬ^WĨŽƌƚŚĞ ƵŶĚĞƌƚĂŬĞƐĞdžƚĞƌŶĂůĂƵĚŝƚƐƵŶĚĞƌ/^KϭϰϬϬϭƚŽĂƐƐĞƐƐƚŚĞ ĮŶĂŶĐŝĂůLJĞĂƌďĞŝŶŐƌĞƉŽƌƚĞĚ͍ ŝŵƉůĞŵĞŶƚĂƟŽŶŽĨŝƚƐĞŶǀŝƌŽŶŵĞŶƚƌĞůĂƚĞĚĂĐƟǀŝƟĞƐ͘  zĞƐ͕ ƚŚĞ ĞŵŝƐƐŝŽŶƐͬǁĂƐƚĞ ŐĞŶĞƌĂƚĞĚ ďLJ ƚŚĞ ŽŵƉĂŶLJ Ăƚ Ăůů 4. Does the Company have any project related to Clean ůŽĐĂƟŽŶƐŝƐǁŝƚŚŝŶƚŚĞƉĞƌŵŝƐƐŝďůĞůŝŵŝƚƐŐŝǀĞŶďLJWͬ^W͘ ĞǀĞůŽƉŵĞŶƚ DĞĐŚĂŶŝƐŵ͍ /Ĩ LJĞƐ͕ ǁŚĞƚŚĞƌ ĂŶLJ ϳ͘ EƵŵďĞƌŽĨƐŚŽǁĐĂƵƐĞͬůĞŐĂůŶŽƟĐĞƐƌĞĐĞŝǀĞĚĨƌŽŵWͬ ĞŶǀŝƌŽŶŵĞŶƚĂůĐŽŵƉůŝĂŶĐĞƌĞƉŽƌƚŝƐĮůĞĚ͍ ^WǁŚŝĐŚĂƌĞƉĞŶĚŝŶŐ;ŝ͘Ğ͘ŶŽƚƌĞƐŽůǀĞĚƚŽƐĂƟƐĨĂĐƟŽŶͿ  zĞƐ͕:^W>ŚĂƐĂϮϰDtǁŝŶĚƉŽǁĞƌƉƌŽũĞĐƚƌĞŐŝƐƚĞƌĞĚĂƐ as on end of Financial Year. ĂůĞĂŶĞǀĞůŽƉŵĞŶƚDĞĐŚĂŶŝƐŵƉƌŽũĞĐƚĂĐƟǀŝƚLJ;hE&  ƚ ƚŚĞ ĞŶĚ ŽĨ &z ϮϬϭϮͲϭϯ͕ ƚŚĞƌĞ ĂƌĞ Ϯ ƉĞŶĚŝŶŐ ĐĂƐĞƐ ƌĞĨĞƌĞŶĐĞŶƵŵďĞƌϱϴϲϰͿ͘dŚĞƉƌŽũĞĐƚŐĞŶĞƌĂƚĞƐĞůĞĐƚƌŝĐŝƚLJ ǁŝƚŚ^W͘ ĨƌŽŵĂƌĞŶĞǁĂďůĞĞŶĞƌŐLJƐŽƵƌĐĞ;ǁŝŶĚͿ͘dŚƵƐ͕ƚŚĞƉƌŽũĞĐƚ ĂĐƟǀŝƚLJ ŚĞůƉƐ ŝŶ ƌĞĚƵĐŝŶŐ ĚĞƉĞŶĚĞŶĐĞ ŽŶ ĨŽƐƐŝů ĨƵĞůƐ ĨŽƌ ŐĞŶĞƌĂƟŶŐƚŚĞĞƋƵŝǀĂůĞŶƚĂŵŽƵŶƚŽĨĞůĞĐƚƌŝĐŝƚLJ͘dŚĞƉƌŽũĞĐƚ

ĂĐƟǀŝƚLJǁŝůůƌĞĚƵĐĞϯϴ͕ϰϱϵƚK2Ğ','ĞŵŝƐƐŝŽŶƐƉĞƌĂŶŶƵŵ Ɵůů:ƵůLJϮϬϮϮ͘

131 Annual Report 2012-13 WZ/E/W>ϳ ƵƐŝŶĞƐƐĞƐ͕ǁŚĞŶĞŶŐĂŐĞĚŝŶŝŶŇƵĞŶĐŝŶŐ WZ/E/W>ϴ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƐƵƉƉŽƌƚŝŶĐůƵƐŝǀĞŐƌŽǁƚŚ ƉƵďůŝĐĂŶĚƌĞŐƵůĂƚŽƌLJƉŽůŝĐLJ͕ƐŚŽƵůĚĚŽƐŽŝŶ and equitable development a responsible manner ϭ͘ ŽĞƐƚŚĞŽŵƉĂŶLJŚĂǀĞƐƉĞĐŝĮĞĚƉƌŽŐƌĂŵŵĞƐͬŝŶŝƟĂƟǀĞƐͬ 1. Is your Company a member of any trade and chamber or ƉƌŽũĞĐƚƐŝŶƉƵƌƐƵŝƚŽĨƚŚĞƉŽůŝĐLJƌĞůĂƚĞĚƚŽWƌŝŶĐŝƉůĞϴ͍/ĨLJĞƐ ĂƐƐŽĐŝĂƟŽŶ͍/ĨzĞƐ͕EĂŵĞŽŶůLJƚŚŽƐĞŵĂũŽƌŽŶĞƐƚŚĂƚLJŽƵƌ details thereof. ďƵƐŝŶĞƐƐĚĞĂůƐǁŝƚŚ͘  zĞƐ͘ :^W> ĞŶĚŽƌƐĞƐ ƚŚĞ ƚĞŶĞƚƐ ŽĨ ŝŶĐůƵƐŝǀĞ ŐƌŽǁƚŚ ĂŶĚ  zĞƐ͕:^W>ŝƐĂŵĞŵďĞƌŽĨƐĞǀĞƌĂůŝŶĚƵƐƚƌŝĂůĂŶĚƚƌĂĚĞďŽĚŝĞƐ͘ ĞƋƵŝƚĂďůĞ ĚĞǀĞůŽƉŵĞŶƚ ƚŚƌŽƵŐŚ ŝƚƐ ŽƌƉŽƌĂƚĞ ^ŽĐŝĂů dŚĞƐĞĂƌĞůŝƐƚĞĚďĞůŽǁ͗ ZĞƐƉŽŶƐŝďŝůŝƚLJ ;^ZͿ ŝŶŝƟĂƟǀĞƐ͘ dŚĞƐĞ ƚĞŶĞƚƐ ĐŽŶƐƟƚƵƚĞ ĂͿ ŽŶĨĞĚĞƌĂƟŽŶŽĨ/ŶĚŝĂŶ/ŶĚƵƐƚƌLJ;//Ϳ ĂŶŝŶƚĞŐƌĂůƉĂƌƚŽĨŽƵƌĐŽƌƉŽƌĂƚĞ͞ŽƌĞsĂůƵĞƐ͘͟tĞĮƌŵůLJ ďĞůŝĞǀĞ ƚŚĂƚ ŝŵƉƌŽǀŝŶŐ ƚŚĞ ƋƵĂůŝƚLJ ŽĨ ůŝĨĞ ŽĨ ĐŽŵŵƵŶŝƟĞƐ ďͿ &ĞĚĞƌĂƟŽŶ ŽĨ /ŶĚŝĂŶ ŚĂŵďĞƌƐ ŽĨ ŽŵŵĞƌĐĞ ĂŶĚ ƐƵƌƌŽƵŶĚŝŶŐ ŽƵƌ ŽƉĞƌĂƟŽŶƐ ŝƐ Ă ŶĞĐĞƐƐĂƌLJ ĐŽŵƉŽŶĞŶƚ ŽĨ /ŶĚƵƐƚƌLJ;&//Ϳ ŽƵƌŐƌŽǁƚŚƐƚŽƌLJ͘dŚĞƐĂŵĞŝƐĞŶƐŚƌŝŶĞĚŝŶŽƵƌ^ZƉŽůŝĐLJ͘ ĐͿ ƐƐŽĐŝĂƚĞĚ ŚĂŵďĞƌƐ ŽĨ ŽŵŵĞƌĐĞ ĂŶĚ /ŶĚƵƐƚƌLJ ŽĨ dŚĞ ĞīĞĐƟǀĞŶĞƐƐ ĂŶĚ ŝŵƉůĞŵĞŶƚĂƟŽŶ ŽĨ ƚŚŝƐ ƉŽůŝĐLJ ŝƐ /ŶĚŝĂ;^^K,DͿ ĞŶƐƵƌĞĚ ďLJ ĞdžƚĞŶĚŝŶŐ ƚŚĞ ŐŽǀĞƌŶĂŶĐĞ ƌĞƐƉŽŶƐŝďŝůŝƚLJ ƚŽ ĚͿ &ĞĚĞƌĂƟŽŶŽĨ/ŶĚŝĂŶDŝŶĞƌĂů/ŶĚƵƐƚƌŝĞƐ;&/D/Ϳ ƚŚĞŽŵƉĂŶLJ͛ƐŽĂƌĚƚŚƌŽƵŐŚƚŚĞ,ĞĂůƚŚ͕^ĂĨĞƚLJ͕^ZĂŶĚ ĞͿ ^ƚĞĞů&ƵƌŶĂĐĞƐƐŽĐŝĂƟŽŶŽĨ/ŶĚŝĂ;^&/Ϳ ŶǀŝƌŽŶŵĞŶƚŽŵŵŝƩĞĞ͘dŚŝƐŽĂƌĚůĞǀĞůĐŽŵŵŝƩĞĞŵĞĞƚƐ ƋƵĂƌƚĞƌůLJ ƚŽ ŵŽŶŝƚŽƌ ƚŚĞ ƉůĂŶƐ͕ ĂĐƟŽŶƐ ĂŶĚ ŽƵƚĐŽŵĞƐ ŽĨ ĨͿ ^ƉŽŶŐĞ/ƌŽŶDĂŶƵĨĂĐƚƵƌĞƌƐƐƐŽĐŝĂƟŽŶ;^/DͿ ŽƵƌ ^Z ƉƌŽŐƌĂŵŵĞƐ͘ dŚĞƐĞ ƉƌŽŐƌĂŵŵĞƐ ĂƌĞ ŵĂŶĂŐĞĚ ŐͿ ƐƐŽĐŝĂƟŽŶŽĨWŽǁĞƌWƌŽĚƵĐĞƌƐ;WWͿ ďLJƉƌŽĨĞƐƐŝŽŶĂů^ZƚĞĂŵƐƐƚĂƟŽŶĞĚĂƚĞĂĐŚŽĨŽƵƌƉůĂŶƚ Ϯ͘ ,ĂǀĞLJŽƵĂĚǀŽĐĂƚĞĚͬůŽďďŝĞĚƚŚƌŽƵŐŚĂďŽǀĞĂƐƐŽĐŝĂƟŽŶƐ ůŽĐĂƟŽŶƐĂŶĚďƌŽĂĚůLJƉĞƌƚĂŝŶƚŽĂƌĞĂƐůŝŬĞ͗ for the advancement or improvement of public good? Yes/  ,ĞĂůƚŚ EŽ͖ŝĨLJĞƐƐƉĞĐŝĨLJƚŚĞďƌŽĂĚĂƌĞĂƐ;ĚƌŽƉďŽdž͗'ŽǀĞƌŶĂŶĐĞĂŶĚ ĚŵŝŶŝƐƚƌĂƟŽŶ͕ĐŽŶŽŵŝĐZĞĨŽƌŵƐ͕/ŶĐůƵƐŝǀĞĞǀĞůŽƉŵĞŶƚ  ĚƵĐĂƟŽŶ WŽůŝĐŝĞƐ͕ŶĞƌŐLJƐĞĐƵƌŝƚLJ͕tĂƚĞƌ͕&ŽŽĚ^ĞĐƵƌŝƚLJ͕^ƵƐƚĂŝŶĂďůĞ  zŽƵƚŚĞǀĞůŽƉŵĞŶƚ ƵƐŝŶĞƐƐWƌŝŶĐŝƉůĞƐ͕KƚŚĞƌƐͿ͘  ^ƵƐƚĂŝŶĂďůĞ>ŝǀĞůŝŚŽŽĚ  :^W>ŝƐƉĂƌƚŽĨǀĂƌŝŽƵƐĐŽŵŵŝƩĞĞƐůŝŬĞƉŽǁĞƌĐŽŵŵŝƩĞĞ͕  tŽŵĞŶ͛ƐŵƉŽǁĞƌŵĞŶƚ ƐƚĞĞůĐŽŵŵŝƩĞĞ͕ŵŝŶŝŶŐĐŽŵŵŝƩĞĞĞƚĐ͘ǁŝƚŚŝŶƚŚĞĂďŽǀĞ ůŝƐƚĞĚŝŶĚƵƐƚƌŝĂůĂŶĚƚƌĂĚĞďŽĚŝĞƐ͘tĞƉĂƌƟĐŝƉĂƚĞŝŶƐĞŵŝŶĂƌƐ  ^ŬŝůůĞǀĞůŽƉŵĞŶƚ ĂŶĚ ĐŽŶĨĞƌĞŶĐĞƐ ŽƌŐĂŶŝƐĞĚ ďLJ ƚŚĞƐĞ ďŽĚŝĞƐ ĂŶĚ ƉƌŽǀŝĚĞ  ^ƚƌĞŶŐƚŚĞŶŝŶŐ>ŽĐĂů/ŶƐƟƚƵƟŽŶƐ ŽƵƌ ŝŶƉƵƚƐ ŽŶ ǀĂƌŝŽƵƐ ŝƐƐƵĞƐ ŝŶĐůƵĚŝŶŐ ĂĚǀĂŶĐĞŵĞŶƚͬ  EĂƚƵƌĂůZĞƐŽƵƌĐĞDĂŶĂŐĞŵĞŶƚ ŝŵƉƌŽǀĞŵĞŶƚŽĨƉƵďůŝĐŐŽŽĚďƵƚǁĞĚŽŶŽƚůŽďďLJĨŽƌĂŶLJ  ŝƐĂƐƚĞƌZĞůŝĞĨ ƐƉĞĐŝĮĐ ŝƐƐƵĞ͘ /Ŷ ƚŚĞ ƉĂƐƚ͕ ǁĞ ŚĂǀĞ ƉĂƌƟĐŝƉĂƚĞĚ ŝŶ ƚŚĞ ĨŽůůŽǁŝŶŐĨŽƌƵŵƐƉĞƌƚĂŝŶŝŶŐƚŽĂĚǀĂŶĐĞŵĞŶƚͬŝŵƉƌŽǀĞŵĞŶƚ  >ŝǀĞƐƚŽĐŬDĂŶĂŐĞŵĞŶƚ ŽĨƉƵďůŝĐŐŽŽĚ͗  ŽŵŵƵŶŝƚLJ/ŶĨƌĂƐƚƌƵĐƚƵƌĞĞǀĞůŽƉŵĞŶƚ  ŶĞƌŐLJ^ĞĐƵƌŝƚLJ  ^ƉŽƌƚƐ͕ƌƚĂŶĚƵůƚƵƌĞZĞůĂƚĞĚ  ^ƵƐƚĂŝŶĂďůĞƵƐŝŶĞƐƐWƌŝŶĐŝƉůĞƐ  'ŽǀĞƌŶĂŶĐĞ  ^ĂĨĞƚLJĂŶĚ^ŬŝůůĞǀĞůŽƉŵĞŶƚ

132 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ƵƐŝŶĞƐƐZĞƐƉŽŶƐŝďŝůŝƚLJZĞƉŽƌƚ

Ϯ͘ ƌĞƚŚĞƉƌŽŐƌĂŵŵĞƐͬƉƌŽũĞĐƚƐƵŶĚĞƌƚĂŬĞŶƚŚƌŽƵŐŚŝŶͲŚŽƵƐĞƚĞĂŵͬŽǁŶĨŽƵŶĚĂƟŽŶͬĞdžƚĞƌŶĂůE'KͬŐŽǀĞƌŶŵĞŶƚƐƚƌƵĐƚƵƌĞƐͬĂŶLJ ŽƚŚĞƌŽƌŐĂŶŝƐĂƟŽŶ͍  dŚĞŽŶƵƐŽĨĚĞƐŝŐŶŝŶŐĂŶĚĚĞůŝǀĞƌŝŶŐƚŚĞ^ZŝŶŝƟĂƟǀĞƐůŝĞƐǁŝƚŚƚŚĞŝŶͲŚŽƵƐĞ^ZƚĞĂŵƐĚĞƉůŽLJĞĚĂƚĞĂĐŚŽĨŽƵƌƉůĂŶƚůŽĐĂƟŽŶƐ͘ ĂƐĞĚŽŶƚŚĞƌĞƋƵŝƌĞŵĞŶƚŽĨĞĂĐŚŝŶŝƟĂƟǀĞ͕ĞdžƚĞƌŶĂůE'KƐĂƌĞĂůƐŽďƌŽƵŐŚƚŽŶďŽĂƌĚƚŽƐƵƉƉůĞŵĞŶƚƚŚĞŝŶͲŚŽƵƐĞƐŬŝůůƐĂǀĂŝůĂďůĞ͘ DĂŶLJŽĨŽƵƌŝŶŝƟĂƟǀĞƐĂƌĞůŝŶŬĞĚǁŝƚŚĞdžŝƐƟŶŐŐŽǀĞƌŶŵĞŶƚƐĐŚĞŵĞƐ;ĞŝƚŚĞƌƐƵƉƉůĞŵĞŶƟŶŐŽƌĐŽŵƉůĞŵĞŶƟŶŐƚŚĞƐĐŚĞŵĞͿĂŶĚ ƌĞƋƵŝƌĞƉĂƌƚŶĞƌŝŶŐǁŝƚŚƌĞƐƉĞĐƟǀĞŐŽǀĞƌŶŵĞŶƚĂŐĞŶĐŝĞƐŝŶǀŽůǀĞĚ͘ĨĞǁĞdžĂŵƉůĞƐŽĨŽƵƌĐŽůůĂďŽƌĂƟǀĞĞīŽƌƚƐĂƌĞŐŝǀĞŶďĞůŽǁ͗

Area WĂƌƚŶĞƌ/ŶǀŽůǀĞĚ ,ĞĂůƚŚ ZĞĚƌŽƐƐ^ŽĐŝĞƚLJ͕ŝƐƚƌŝĐƚůŽŽĚĂŶŬƐ͕ŝƐƚƌŝĐƚ,ĞĂůƚŚĚŵŝŶŝƐƚƌĂƟŽŶ͕/ŶƚĞŐƌĂƚĞĚŚŝůĚ ĞǀĞůŽƉŵĞŶƚ^ĐŚĞŵĞ;/^Ϳ͕ŝůůĂ^ǁĂƐƚŚĂ^ĂŵŝƟ;^^Ϳ͕EĂƟŽŶĂůZƵƌĂů,ĞĂůƚŚDŝƐƐŝŽŶ ;EZ,DͿ͕ EĂƟŽŶĂů sĞĐƚŽƌ ŽƌŶĞ ŝƐĞĂƐĞƐ ŽŶƚƌŽů WƌŽŐƌĂŵ ;EsWͿ͕ /ŶƚĞŐƌĂƚĞĚ ŽƵŶƐĞůůŝŶŐĂŶĚdĞƐƟŶŐĞŶƚĞƌ;/dͿ͕EĂƟŽŶĂů/^ŽŶƚƌŽůKƌŐĂŶŝƐĂƟŽŶ͕ŝƐƚƌŝĐƚ/^ WƌĞǀĞŶƟŽŶĂŶĚŽŶƚƌŽůhŶŝƚ;WhͿ

ĚƵĐĂƟŽŶ ĞƉƚ͘ŽĨ^ĐŚŽŽůĂŶĚDĂƐƐĚƵĐĂƟŽŶ͕^ĂƌǀĂ^ŚŝŬƐŚĂďŚŝLJĂŶ͕^ƚĂƚĞZĞƐŽƵƌĐĞĞŶƚƌĞ͕ ŝůůĂ^ĂŬƐŚĂƌĂƚĂDŝƐƐŝŽŶ͕>ŽĐĂůǁĞůĨĂƌĞƐŽĐŝĞƟĞƐ

Sustainable Livelihood KĸĐĞ ŽĨ ŚŝĞĨ ŝƐƚƌŝĐƚ sĞƚĞƌĂŶĂƌLJ KĸĐĞƌ͕ KĸĐĞ ŽĨ ƐƐŝƐƚĂŶƚ ŝƌĞĐƚŽƌ ŽĨ &ŝƐŚĞƌŝĞƐ͕ KĸĐĞ ŽĨ ŝƐƚƌŝĐƚ ,ŽƌƟĐƵůƚƵƌĂů KĸĐĞƌ͕ŝƐƚƌŝĐƚ ZƵƌĂů ĞǀĞůŽƉŵĞŶƚ ƵƚŚŽƌŝƚLJ͕ŝƐƚƌŝĐƚ ŐƌŝĐƵůƚƵƌĞKĸĐĞ͕<ƌŝƐŚŝsŝŐLJĂŶ<ĞŶĚƌĂ͕:ĂŶ^ŚŝŬƐŚĂ^ĂŶƐƚŚĂŶ

Community Infrastructure ŝƐƚƌŝĐƚĚŵŝŶŝƐƚƌĂƟŽŶ͕ŝƐƚƌŝĐƚZƵƌĂůĞǀĞůŽƉŵĞŶƚƵƚŚŽƌŝƚLJ͕ZƵƌĂůtĞůĨĂƌĞ^ŽĐŝĞƟĞƐ͕ Development ^ƚĂƚĞůĞĐƚƌŝĐŝƚLJŽĂƌĚ͕WƵďůŝĐtŽƌŬƐĞƉĂƌƚŵĞŶƚ

^ƉŽƌƚƐ͕ƌƚĂŶĚƵůƚƵƌĞZĞůĂƚĞĚ KůLJŵƉŝĐƐƐŽĐŝĂƟŽŶ͕ƌŝĐŬĞƚƐƐŽĐŝĂƟŽŶƐ͕ŝƌĞĐƚŽƌĂƚĞŽĨ^ƉŽƌƚƐ͕ŝƐƚƌŝĐƚ^ƉŽƌƚƐKĸĐĞ͕ zŽƵƚŚ,ŽƐƚĞůƐƐŽĐŝĂƟŽŶ͕ŝƐƚƌŝĐƚƚŚůĞƟĐƐƐŽĐŝĂƟŽŶ

EĂƚƵƌĂůZĞƐŽƵƌĐĞDĂŶĂŐĞŵĞŶƚ tĂƚĞƌƐŚĞĚDĂŶĂŐĞŵĞŶƚWƌŽŐƌĂŵŵĞŝŶĐŽůůĂďŽƌĂƟŽŶǁŝƚŚEĂƟŽŶĂůĂŶŬĨŽƌŐƌŝĐƵůƚƵƌĞ ĂŶĚZƵƌĂůĞǀĞůŽƉŵĞŶƚ;EZͿ͕ŐƌŝĐƵůƚƵƌĂů&ŝŶĂŶĐĞŽƌƉŽƌĂƟŽŶ;&Ϳ͕&ŽƵŶĚĂƟŽŶ ĨŽƌĐŽůŽŐŝĐĂů^ĞĐƵƌŝƚLJ;&^Ϳ

ϯ͘ ,ĂǀĞLJŽƵĚŽŶĞĂŶLJŝŵƉĂĐƚĂƐƐĞƐƐŵĞŶƚŽĨLJŽƵƌŝŶŝƟĂƟǀĞ͍  zĞƐ͕:^W>ŚĂƐƵŶĚĞƌƚĂŬĞŶŝŵƉĂĐƚĂƐƐĞƐƐŵĞŶƚŽĨŝƚƐ^ZŝŶŝƟĂƟǀĞƐǁŝƚŚƚŚĞŚĞůƉŽĨƚŚŝƌĚƉĂƌƚLJĐŽŶƐƵůƚĂŶƚƐ͘dŚĞŝŵƉĂĐƚĂƐƐĞƐƐŵĞŶƚ ƐƚƵĚŝĞƐĂůůŽǁƵƐƚŽŐĂƵŐĞƚŚĞĞĸĐĂĐLJŽĨŽƵƌƉƌŽŐƌĂŵŵĞƐ͕ƵŶĚĞƌƐƚĂŶĚƚŚĞŇŽǁŽĨďĞŶĞĮƚƐƚŽƚŚĞĐŽŵŵƵŶŝƟĞƐĂŶĚƚŽŐĂŝŶƵƐĞĨƵů ŝŶƐŝŐŚƚƐĨŽƌŝŵƉƌŽǀŝŶŐƚŚĞƉƌŽŐƌĂŵŵĞƐƉĞĐŝĮĐĂƟŽŶƐŽĨĨƵƚƵƌĞŝŶƚĞƌǀĞŶƟŽŶƐ͘dŚĞŽƵƚĐŽŵĞƐŽĨƚŚĞƐĞƐƚƵĚŝĞƐƐŚĞĚůŝŐŚƚŽŶĂĐƟǀŝƟĞƐ ƚŚĂƚĂƌĞŵŽƐƚǀĂůƵĞĚďLJĐŽŵŵƵŶŝƟĞƐ͕ĚŝƌĞĐƚĂŶĚŝŶĚŝƌĞĐƚŝŵƉĂĐƚƐŽĨƚŚĞŝŶŝƟĂƟǀĞƐ͕ŝŵƉĂĐƚŽŶůŝǀĞůŝŚŽŽĚƉĂƩĞƌŶƐ͕ƚƌĞŶĚŝŶĂǀĞƌĂŐĞ ŚŽƵƐĞŚŽůĚŝŶĐŽŵĞ͕ŵŝŐƌĂƟŽŶƉĂƩĞƌŶƐ͕ƐŽĐŝĂůůLJƌĞůĞǀĂŶƚǀĂƌŝĂďůĞƐůŝŬĞĐŚŝůĚŵĂƌƌŝĂŐĞĂŶĚǁŽŵĞŶ͛ƐƉĂƌƟĐŝƉĂƟŽŶ͕ŝŵƉĂĐƚŽŶƐĐŚŽŽů ĚƌŽƉŽƵƚƌĂƚĞƐĂŵŽŶŐƐƚŽƚŚĞƌƚŚŝŶŐƐ͘

133 Annual Report 2012-13 ϰ͘ tŚĂƚŝƐLJŽƵƌŽŵƉĂŶLJ͛ƐĚŝƌĞĐƚĐŽŶƚƌŝďƵƟŽŶƚŽĐŽŵŵƵŶŝƚLJĚĞǀĞůŽƉŵĞŶƚƉƌŽũĞĐƚƐͲŵŽƵŶƚŝŶ/EZĂŶĚƚŚĞĚĞƚĂŝůƐŽĨƚŚĞƉƌŽũĞĐƚƐ undertaken?  :^W>͛ƐĚŝƌĞĐƚĐŽŶƚƌŝďƵƟŽŶƚŽǁĂƌĚƐĐŽŵŵƵŶŝƚLJĚĞǀĞůŽƉŵĞŶƚƉƌŽũĞĐƚƐĚƵƌŝŶŐƚŚĞƌĞƉŽƌƟŶŐƉĞƌŝŽĚ;ϮϬϭϮͲϭϯͿŝƐ༤ϵϵ͘ϭϰĐƌŽƌĞ͘ĞƚĂŝůƐ ŽĨƐŽŵĞŽĨŽƵƌĐŽŵŵƵŶŝƚLJŝŶŝƟĂƟǀĞƐĂƌĞŐŝǀĞŶďĞůŽǁ͗

Area /ŶƚĞƌǀĞŶƟŽŶƐ ,ĞĂůƚŚ KƌŐĂŶŝƐŝŶŐŚĞĂůƚŚĐĂŵƉƐĂŶĚƌĞŶŽǀĂƟŽŶŽĨĐůŝŶŝĐƐ ĚĚƌĞƐƐŝŶŐĂĚŽůĞƐĐĞŶƚĂŶĂĞŵŝĂ ůŽŽĚĚŽŶĂƟŽŶĐĂŵƉƐĂŶĚŵĞĚŝĐŝŶĞĚŝƐƚƌŝďƵƟŽŶĚƌŝǀĞƐ DŽďŝůĞ,ĞĂůƚŚhŶŝƚ ^ĂŶŝƚĂƟŽŶ WƌĞǀĞŶƟǀĞƐĞƌǀŝĐĞƐůŝŬĞĨĂŵŝůLJƉůĂŶŶŝŶŐĐĂŵƉƐĂŶĚŚĞĂůƚŚͲƌĞůĂƚĞĚ awareness programmes /ŵƉƌŽǀŝŶŐŚĞĂůƚŚƌĞůĂƚĞĚŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ĚƵĐĂƟŽŶ ^ƵƉƉŽƌƟŶŐƚĞĂĐŚĞƌƐ ŶŚĂŶĐŝŶŐƋƵĂůŝƚLJŽĨĞĚƵĐĂƟŽŶƚŚƌŽƵŐŚŝŶĨƌĂƐƚƌƵĐƚƵƌĞƐƵƉƉŽƌƚ sŝůůĂŐĞĐĂŵƉƐĨŽƌŝŶĐƌĞĂƐŝŶŐƐĐŚŽŽůĞŶƌŽůŵĞŶƚ &ŝŶĂŶĐŝĂůĂƐƐŝƐƚĂŶĐĞƚŚƌŽƵŐŚƐĐŚŽůĂƌƐŚŝƉƐ ZĞŶŽǀĂƟŽŶŽĨĂŶŐĂŶǁĂĚŝĐĞŶƚƌĞƐ ŝƐƚƌŝďƵƟŽŶŽĨƚĞdžƚŬƐ ĚƵůƚĞĚƵĐĂƟŽŶ Community Infrastructure Development WƌŽǀŝƐŝŽŶŽĨƐĂĨĞĚƌŝŶŬŝŶŐǁĂƚĞƌƚŚƌŽƵŐŚƉŝƉĞĚǁĂƚĞƌƐƵƉƉůLJ͕ŚĂŶĚƉƵŵƉƐ ĂŶĚǁĂƚĞƌƚĂŶŬĞƌƐ ZŽĂĚĚĞǀĞůŽƉŵĞŶƚ sŝůůĂŐĞĞůĞĐƚƌŝĮĐĂƟŽŶ͕ƐŽůĂƌůŝŐŚƟŶŐ KƚŚĞƌĐŽŵŵƵŶŝƚLJŝŶĨƌĂƐƚƌƵĐƚƵƌĞůŝŬĞƚĞŵƉůĞƐ͕ĐŽŵŵƵŶŝƚLJŚĂůůƐĂŶĚ ŵĂŝŶƚĂŝŶŝŶŐŐƌĞĞŶĐŽǀĞƌ Skill Development /d/ĨŽƌŵĂƚƌŝĐƵůĂƚĞƐΘDŽĚƵůĂƌŵƉůŽLJĂďůĞƐĐŚĞŵĞĨŽƌŶŽŶͲŵĂƚƌŝĐƵůĂƚĞƐ sŽĐĂƟŽŶĂůĐŽƵƌƐĞƐůŝŬĞƚĂŝůŽƌŝŶŐ͕ĞŵďƌŽŝĚĞƌLJ͕ƉĂƉĞƌƉƌŽĚƵĐƚƐĂŶĚĐĂŶĚůĞ ŵĂŬŝŶŐ Sustainable Livelihood &ĂƌŵĂŶĚŶŽŶͲĨĂƌŵďĂƐĞĚĂĐƟǀŝƟĞƐ DŝĐƌŽͲĐƌĞĚŝƚƐĐŚĞŵĞƐ >ŝǀĞƐƚŽĐŬŵĂŶĂŐĞŵĞŶƚĂŶĚĂŶŝŵĂůǀĂĐĐŝŶĂƟŽŶĚƌŝǀĞƐ WŝƐĐŝĐƵůƚƵƌĞĂŶĚĨƌĞƐŚǁĂƚĞƌƉƌĂǁŶĐƵůƟǀĂƟŽŶŝŶĐůƵĚŝŶŐĐĂƉĂĐŝƚLJďƵŝůĚŝŶŐ ^ƉŽƌƚƐ͕ƌƚĂŶĚƵůƚƵƌĞŽŶĚŝŶŐ sŝůůĂŐĞ͕ŝŶƚĞƌͲǀŝůůĂŐĞĂŶĚĚŝƐƚƌŝĐƚͲůĞǀĞůĐŽĂĐŚŝŶŐĂŶĚƚŽƵƌŶĂŵĞŶƚƐ /ŶĨƌĂƐƚƌƵĐƚƵƌĞĂŶĚƐƉŽƌƚƐĞƋƵŝƉŵĞŶƚƐƵƉƉŽƌƚƚŽǀŝůůĂŐĞLJŽƵƚŚ WƌŽŵŽƟŽŶŽĨůŽĐĂůĐƵůƚƵƌĂůĂŶĚĨŽůŬŐƌŽƵƉƐ EĂƚƵƌĂůZĞƐŽƵƌĐĞDĂŶĂŐĞŵĞŶƚ ŽŵŵƵŶŝƚLJƉůĂŶƚĂƟŽŶĂŶĚĚĞǀĞůŽƉŵĞŶƚŽĨǁĂƚĞƌďŽĚŝĞƐ tĂƚĞƌƐŚĞĚĚĞǀĞůŽƉŵĞŶƚ tŽŵĞŶ͛ƐŵƉŽǁĞƌŵĞŶƚ ^ĞůĨͲ,ĞůƉ'ƌŽƵƉĨŽƌŵĂƟŽŶĂŶĚŵŝĐƌŽĐƌĞĚŝƚƐĐŚĞŵĞƐ ^ŬŝůůďƵŝůĚŝŶŐĂĐƟǀŝƟĞƐ ,ĞĂůƚŚƌĞůĂƚĞĚĂǁĂƌĞŶĞƐƐĐĂŵƉĂŝŐŶƐ Disaster Relief &ůŽŽĚ͕ĮƌĞĂŶĚƐƚŽƌŵƌĞůŝĞĨ

134 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ƵƐŝŶĞƐƐZĞƐƉŽŶƐŝďŝůŝƚLJZĞƉŽƌƚ

ϱ͘ ,ĂǀĞ LJŽƵ ƚĂŬĞŶ ƐƚĞƉƐ ƚŽ ĞŶƐƵƌĞ ƚŚĂƚ ƚŚŝƐ ĐŽŵŵƵŶŝƚLJ 4. Did your Company carry out any consumer survey/ ĚĞǀĞůŽƉŵĞŶƚ ŝŶŝƟĂƟǀĞ ŝƐ ƐƵĐĐĞƐƐĨƵůůLJ ĂĚŽƉƚĞĚ ďLJ ƚŚĞ ĐŽŶƐƵŵĞƌƐĂƟƐĨĂĐƟŽŶƚƌĞŶĚƐ͍ ĐŽŵŵƵŶŝƚLJ͍WůĞĂƐĞĞdžƉůĂŝŶŝŶϱϬǁŽƌĚƐ͕ŽƌƐŽ͘  zĞƐ͕ƚŚĞŽŵƉĂŶLJĐĂƌƌŝĞƐŽƵƚĐƵƐƚŽŵĞƌƐĂƟƐĨĂĐƟŽŶƐƵƌǀĞLJƐ  ^ƵĐĐĞƐƐĨƵů ĂĚŽƉƟŽŶ ŽĨ ĐŽŵŵƵŶŝƚLJ ŝŶŝƟĂƟǀĞƐ ŝƐ ĞŶƐƵƌĞĚ ƚŽ ƵŶĚĞƌƐƚĂŶĚ ĐƵƐƚŽŵĞƌ ĐŽŶĐĞƌŶƐ ĂŶĚ ĞŵĞƌŐŝŶŐ ƚƌĞŶĚƐ͘ ďLJ ĐŽŶƟŶƵŽƵƐůLJ ĞŶŐĂŐŝŶŐ ǁŝƚŚ ƚŚĞ ĐŽŵŵƵŶŝƟĞƐ Ăƚ ĞǀĞƌLJ ZĞƉƵƚĞĚ ƚŚŝƌĚ ƉĂƌƚLJ ŵĂƌŬĞƚ ƌĞƐĞĂƌĐŚ ĮƌŵƐ ĂƌĞ ĞŶƚƌƵƐƚĞĚ ƐƚĂŐĞ ŽĨ ƚŚĞ ƉƌŽŐƌĂŵŵĞ͕ ƌŝŐŚƚ ĨƌŽŵ ŝŶĐĞƉƟŽŶ ƚŽ ŝƚƐ ƚŽ ĐĂƌƌLJ ŽƵƚ ƚŚĞƐĞ ƐƵƌǀĞLJƐ͘ KƵƌ ƐĂůĞƐ ƚĞĂŵ ĂůƐŽ ŝŶƚĞƌĂĐƚƐ ĞdžĞĐƵƟŽŶ͘ ůů ƉƌŽŐƌĂŵŵĞƐ ĂƌĞ ĚĞǀĞůŽƉĞĚ ŝŶ ĐŽŶƐƵůƚĂƟŽŶ ǁŝƚŚ ƐƉĞĐŝĮĐ ĐƵƐƚŽŵĞƌ ŐƌŽƵƉƐ ůŝŬĞ ĂƌĐŚŝƚĞĐƚƐ͕ ĂƵƚŽŵŽďŝůĞ ǁŝƚŚ ƚŚĞ ĐŽŵŵƵŶŝƟĞƐ ƵƐŝŶŐ ƚĞĐŚŶŝƋƵĞƐ ůŝŬĞ WĂƌƟĐŝƉĂƚŽƌLJ ĐŽŵƉĂŶŝĞƐ͕ĞƚĐ͘ƚŽĂĚĚƌĞƐƐƚŚĞŝƌƐƉĞĐŝĮĐŶĞĞĚƐ͘ ZƵƌĂů ƉƉƌĂŝƐĂů ;WZͿ͕ EĞĞĚͲWƌŽĮůĞ ŶĂůLJƐŝƐ ĂŶĚ EĞĞĚͲ ƉƌŝŽƌŝƟƐĂƟŽŶ͘ŽŵŵƵŶŝƟĞƐĂƌĞĂůƐŽŝŶǀŽůǀĞĚŝŶĚĞůŝǀĞƌLJĂƐ &ŽƌΘŽŶďĞŚĂůĨŽĨƚŚĞŽĂƌĚ ǁĞůůĂƐŵŽŶŝƚŽƌŝŶŐƉŚĂƐĞƐŽĨƚŚĞƉƌŽŐƌĂŵŵĞƐ͘/ƚŝƐĂůǁĂLJƐ ŽƵƌĞŶĚĞĂǀŽƵƌƚŽŝŶĚƵĐĞŽǁŶĞƌƐŚŝƉĂŵŽŶŐƐƚĐŽŵŵƵŶŝƟĞƐ WůĂĐĞ͗EĞǁĞůŚŝ EĂǀĞĞŶ:ŝŶĚĂů ǁŝƚŚ:^W>ƉůĂLJŝŶŐƚŚĞƌŽůĞŽĨĂĨĂĐŝůŝƚĂƚŽƌ͘ŽŵŵƵŶŝƚLJďĂƐĞĚ ĂƚĞĚ͗ϮϱƚŚƉƌŝů͕ϮϬϭϯ Chairman ŽƌŐĂŶŝƐĂƟŽŶƐ ůŝŬĞ ǀŝůůĂŐĞ ĚĞǀĞůŽƉŵĞŶƚ ĐŽŵŵŝƩĞĞƐ ĂƌĞ ĨŽƌŵĞĚĂŶĚĂƌĞŐŝǀĞŶƌĞƐƉŽŶƐŝďŝůŝƟĞƐĨŽƌŵĂŶĂŐŝŶŐĐĞƌƚĂŝŶ ĂƐƉĞĐƚƐŽĨƚŚĞƉƌŽŐƌĂŵŵĞƐǁŝƚŚĚƵĞĂƐƐŝƐƚĂŶĐĞĨƌŽŵŽƵƌ ĮĞůĚƚĞĂŵƐ͘

WZ/E/W>ϵ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚĞŶŐĂŐĞǁŝƚŚĂŶĚƉƌŽǀŝĚĞ value to their customers and consumers in a responsible manner

1. What percentage of customer complaints/consumer ĐĂƐĞƐĂƌĞƉĞŶĚŝŶŐĂƐŽŶƚŚĞĞŶĚŽĨĮŶĂŶĐŝĂůLJĞĂƌ͘  ϵйĐŽŶƐƵŵĞƌĐŽŵƉůĂŝŶƚƐǁĞƌĞƉĞŶĚŝŶŐĂƐŽŶƚŚĞĞŶĚŽĨ ĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϮͲϭϯ͘ƚŽƚĂůŽĨϭϴϳĐŽŶƐƵŵĞƌĐŽŵƉůĂŝŶƚƐ ǁĞƌĞ ƌĞĐĞŝǀĞĚ ĚƵƌŝŶŐ ϮϬϭϮͲϭϯ ĂŶĚ ϭϳϬ ŽĨ ƚŚĞƐĞ ǁĞƌĞ ƌĞƐŽůǀĞĚ͖ƚŚŝƐŝŶĐůƵĚĞƐϴϲĐŽŵƉůĂŝŶƚƐƚŚĂƚǁĞƌĞƚƌĞĂƚĞĚĂƐ ĨĞĞĚďĂĐŬ͘  ƐŽŶƚŚĞĞŶĚŽĨƚŚĞ&zϭϮͲϭϯ͕ŽŶůLJϭ;ŽŶĞͿĐŽŶƐƵŵĞƌĐĂƐĞŝƐ ƌĞŐŝƐƚĞƌĞĚĂŐĂŝŶƐƚ:^W>ĂŶĚŝƐƉĞŶĚŝŶŐ͘ Ϯ͘ ŽĞƐ ƚŚĞ ŽŵƉĂŶLJ ĚŝƐƉůĂLJ ƉƌŽĚƵĐƚ ŝŶĨŽƌŵĂƟŽŶ ŽŶ ƚŚĞ ƉƌŽĚƵĐƚ ůĂďĞů͕ ŽǀĞƌ ĂŶĚ ĂďŽǀĞ ǁŚĂƚ ŝƐ ŵĂŶĚĂƚĞĚ ĂƐ ƉĞƌ ůŽĐĂů ůĂǁƐ͍ zĞƐͬEŽͬEͬ͘͘ZĞŵĂƌŬƐ ;ĂĚĚŝƟŽŶĂů ŝŶĨŽƌŵĂƟŽŶͿ  :^W>͛ƐƐƚĞĞůƉƌŽĚƵĐƚƐĚŽŶŽƚŚĂǀĞĂŶLJŵĂŶĚĂƚŽƌLJůĂďĞůůŝŶŐ ƌĞƋƵŝƌĞŵĞŶƚƐ͘ ,ŽǁĞǀĞƌ͕ ŝŶ ŽƌĚĞƌ ƚŽ ĐŽŶǀĞLJ ƵƐĞĨƵů ŝŶĨŽƌŵĂƟŽŶƚŽĐƵƐƚŽŵĞƌƐ͕:^W>͛ƐƉƌŽĚƵĐƚƐďĞĂƌŝŶĨŽƌŵĂƟŽŶ ůĂďĞůƐ ƉƌŽǀŝĚŝŶŐ ĚĞƚĂŝůƐ ĂďŽƵƚ ƐƉĞĐŝĮĐĂƟŽŶƐ͕ ƐŝnjĞƐ ĂŶĚ ƋƵĂůŝƚLJ ŽĨ ƚŚĞ ƌĞƐƉĞĐƟǀĞ ƉƌŽĚƵĐƚ͘ ŐĂŝŶƐƚ ĞǀĞƌLJ ƐĂůĞ͕ ĐƵƐƚŽŵĞƌƐ ĂƌĞ ƉƌŽǀŝĚĞĚ ǁŝƚŚ ƚĞƐƚ ĐĞƌƟĮĐĂƚĞƐ ŝƐƐƵĞĚ ďLJ ĐĞƌƟĮĞĚ ƚŚŝƌĚ ƉĂƌƟĞƐ ƚŚĂƚ ĐŽŶƚĂŝŶ ƋƵĂůŝƚLJ ƉĂƌĂŵĞƚĞƌƐ ĂƐ ǁĞůůĂƐƚŚĞĐŚĞŵŝĐĂůĂŶĚƉŚLJƐŝĐĂůƉƌŽƉĞƌƟĞƐŽĨƚŚĞƉƌŽĚƵĐƚ͘ dŚĞĂďŽǀĞŝŶĨŽƌŵĂƟŽŶŝƐĂůƐŽĂǀĂŝůĂďůĞŝŶƉƌŽĚƵĐƚďƌŽĐŚƵƌĞƐ ƚŚĂƚĂƌĞŐŝǀĞŶƚŽĐƵƐƚŽŵĞƌƐ͘ ϯ͘ /Ɛ ƚŚĞƌĞ ĂŶLJ ĐĂƐĞ ĮůĞĚ ďLJ ĂŶLJ ƐƚĂŬĞŚŽůĚĞƌ ĂŐĂŝŶƐƚ ƚŚĞ ŽŵƉĂŶLJ ƌĞŐĂƌĚŝŶŐ ƵŶĨĂŝƌ ƚƌĂĚĞ ƉƌĂĐƟĐĞƐ͕ ŝƌƌĞƐƉŽŶƐŝďůĞ ĂĚǀĞƌƟƐŝŶŐĂŶĚͬŽƌĂŶƟͲĐŽŵƉĞƟƟǀĞďĞŚĂǀŝŽƵƌĚƵƌŝŶŐƚŚĞ ůĂƐƚĮǀĞLJĞĂƌƐĂŶĚƉĞŶĚŝŶŐĂƐŽŶĞŶĚŽĨĮŶĂŶĐŝĂůLJĞĂƌ͍  EŽĐĂƐĞŚĂƐďĞĞŶĮůĞĚďLJƐƚĂŬĞŚŽůĚĞƌƐĂŐĂŝŶƐƚƚŚĞŽŵƉĂŶLJ ƌĞŐĂƌĚŝŶŐ ƵŶĨĂŝƌ ƚƌĂĚĞ ƉƌĂĐƟĐĞƐ͕ ŝƌƌĞƐƉŽŶƐŝďůĞ ĂĚǀĞƌƟƐŝŶŐ ĂŶĚ ĂŶƟͲĐŽŵƉĞƟƟǀĞ ďĞŚĂǀŝŽƵƌ ĚƵƌŝŶŐ ƚŚĞ ůĂƐƚ ĮǀĞ LJĞĂƌƐ ĂŶĚ ŶŽ ƐƵĐŚ ĐĂƐĞƐ ƌĞŵĂŝŶ ƉĞŶĚŝŶŐ ĂƐ ŽĨ ĞŶĚ ŽĨ ĮŶĂŶĐŝĂů LJĞĂƌϮϬϭϮͲϭϯ͘

Annual Report 2012-13 ϭϯϱ Independent Auditors’ Report to the Board of Directors of Jindal Steel & Power Limited

tĞ ŚĂǀĞ ĂƵĚŝƚĞĚ ƚŚĞ ĂĐĐŽŵƉĂŶLJŝŶŐ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ ŽĨ ŝŝͿ /ŶƚŚĞĐĂƐĞŽĨ^ƚĂƚĞŵĞŶƚŽĨWƌŽĮƚĂŶĚ>ŽƐƐ͕ŽĨƚŚĞƉƌŽĮƚŽĨ :ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌ>ŝŵŝƚĞĚ;͚ƚŚĞŽŵƉĂŶLJ͛ͿǁŚŝĐŚĐŽŵƉƌŝƐĞƐ ƚŚĞŽŵƉĂŶLJĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚŽŶƚŚĂƚĚĂƚĞ͖ĂŶĚ ƚŚĞĂůĂŶĐĞ^ŚĞĞƚĂƐĂƚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ͕ĂŶĚƚŚĞ^ƚĂƚĞŵĞŶƚŽĨ ŝŝŝͿ /ŶƚŚĞĐĂƐĞŽĨƚŚĞĂƐŚ&ůŽǁ^ƚĂƚĞŵĞŶƚ͕ŽĨƚŚĞĐĂƐŚŇŽǁƐ WƌŽĮƚĂŶĚ>ŽƐƐĂŶĚƚŚĞĂƐŚ&ůŽǁ^ƚĂƚĞŵĞŶƚĨŽƌƚŚĞLJĞĂƌƚŚĞŶ ĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚŽŶƚŚĂƚĚĂƚĞ͘ ĞŶĚĞĚ͕ĂŶĚEŽƚĞƐƚŽƚŚĞ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĐŽŵƉƌŝƐŝŶŐŽĨĂ ƐƵŵŵĂƌLJŽĨƐŝŐŶŝĮĐĂŶƚĂĐĐŽƵŶƟŶŐƉŽůŝĐŝĞƐĂŶĚŽƚŚĞƌĞdžƉůĂŶĂƚŽƌLJ EMPHASIS OF MATTER ŝŶĨŽƌŵĂƟŽŶ͘ tĞĚƌĂǁĂƩĞŶƟŽŶƚŽƐƵďŶŽƚĞ;ĂͿŽĨEŽƚĞϰƌĞŐĂƌĚŝŶŐĂĐĐŽƵŶƟŶŐ MANAGEMENT’S RESPONSIBILITY FOR THE ĨŽƌƐĂůĞƐƚĂdžŝŶĐůƵĚĞĚŝŶƐĂůĞƐƉƌŝĐĞŽĨƉƌŽĚƵĐƚƐƐŽůĚŽƵƚŽĨƐĂůĞƐƚĂdž FINANCIAL STATEMENTS ĞdžĞŵƉƚĞĚƵŶŝƚƵŶĚĞƌ^ĂůĞƐdĂdž^ƵďƐŝĚLJͬĂƉŝƚĂůZĞƐĞƌǀĞĐĐŽƵŶƚ ŝŶƚŚĞĐŝƌĐƵŵƐƚĂŶĐĞƐĂƐĞdžƉůĂŝŶĞĚŝŶƚŚĞEŽƚĞ͘KƵƌŽƉŝŶŝŽŶŝƐŶŽƚ DĂŶĂŐĞŵĞŶƚ ŝƐ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ƚŚĞ ƉƌĞƉĂƌĂƟŽŶ ŽĨ ƚŚĞƐĞ ƋƵĂůŝĮĞĚŝŶƌĞƐƉĞĐƚŽĨƚŚŝƐŵĂƩĞƌ͘ ĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƚŚĂƚŐŝǀĞĂƚƌƵĞĂŶĚĨĂŝƌǀŝĞǁŽĨƚŚĞĮŶĂŶĐŝĂů ƉŽƐŝƟŽŶ͕ĮŶĂŶĐŝĂůƉĞƌĨŽƌŵĂŶĐĞĂŶĚĐĂƐŚŇŽǁƐŽĨƚŚĞŽŵƉĂŶLJ REPORT ON OTHER LEGAL AND REGULATORY ŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞĐĐŽƵŶƟŶŐ^ƚĂŶĚĂƌĚƐƌĞĨĞƌƌĞĚƚŽŝŶƐƵďͲ REQUIREMENTS ƐĞĐƟŽŶ ;ϯͿ ŽĨ ƐĞĐƟŽŶ Ϯϭϭ ŽĨ ƚŚĞ ŽŵƉĂŶŝĞƐ Đƚ͕ ϭϵϱϲ ;͚ƚŚĞ ϭ͘ ƐƌĞƋƵŝƌĞĚďLJƚŚĞŽŵƉĂŶŝĞƐ;ƵĚŝƚŽƌ͛ƐZĞƉŽƌƚͿKƌĚĞƌ͕ϮϬϬϯ Đƚ͛Ϳ͘ dŚŝƐ ƌĞƐƉŽŶƐŝďŝůŝƚLJ ŝŶĐůƵĚĞƐ ƚŚĞ ĚĞƐŝŐŶ͕ ŝŵƉůĞŵĞŶƚĂƟŽŶ͕ ;͚ƚŚĞKƌĚĞƌ͛ͿŝƐƐƵĞĚďLJƚŚĞĞŶƚƌĂů'ŽǀĞƌŶŵĞŶƚŽĨ/ŶĚŝĂŝŶ ĂŶĚŵĂŝŶƚĞŶĂŶĐĞŽĨŝŶƚĞƌŶĂůĐŽŶƚƌŽůƐƌĞůĞǀĂŶƚƚŽƚŚĞƉƌĞƉĂƌĂƟŽŶ ƚĞƌŵƐŽĨƐĞĐƟŽŶϮϮϳŽĨƚŚĞĐƚ͕ǁĞŐŝǀĞŝŶƚŚĞŶŶĞdžƵƌĞĂ ĂŶĚƉƌĞƐĞŶƚĂƟŽŶŽĨƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƚŚĂƚŐŝǀĞĂƚƌƵĞĂŶĚ ƐƚĂƚĞŵĞŶƚŽŶƚŚĞŵĂƩĞƌƐƐƉĞĐŝĮĞĚŝŶƉĂƌĂŐƌĂƉŚƐϰĂŶĚϱŽĨ ĨĂŝƌǀŝĞǁĂŶĚĂƌĞĨƌĞĞĨƌŽŵŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚƐ͕ǁŚĞƚŚĞƌĚƵĞ ƚŚĞKƌĚĞƌ͖ ƚŽĨƌĂƵĚŽƌĞƌƌŽƌ͘ Ϯ͘ ƐƌĞƋƵŝƌĞĚďLJƐĞĐƟŽŶϮϮϳ;ϯͿŽĨƚŚĞĐƚ͕ǁĞƌĞƉŽƌƚƚŚĂƚ͗ AUDITOR’S RESPONSIBILITY Ă͘ tĞŚĂǀĞŽďƚĂŝŶĞĚĂůůƚŚĞŝŶĨŽƌŵĂƟŽŶĂŶĚĞdžƉůĂŶĂƟŽŶƐ KƵƌ ƌĞƐƉŽŶƐŝďŝůŝƚLJ ŝƐ ƚŽ ĞdžƉƌĞƐƐ ĂŶ ŽƉŝŶŝŽŶ ŽŶ ƚŚĞƐĞ ĮŶĂŶĐŝĂů ǁŚŝĐŚƚŽƚŚĞďĞƐƚŽĨŽƵƌŬŶŽǁůĞĚŐĞĂŶĚďĞůŝĞĨǁĞƌĞ ƐƚĂƚĞŵĞŶƚƐ ďĂƐĞĚ ŽŶ ŽƵƌ ĂƵĚŝƚ͘ tĞ ĐŽŶĚƵĐƚĞĚ ŽƵƌ ĂƵĚŝƚ ŝŶ ŶĞĐĞƐƐĂƌLJĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨŽƵƌĂƵĚŝƚ͖ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ƚŚĞ ^ƚĂŶĚĂƌĚƐ ŽŶ ƵĚŝƟŶŐ ŝƐƐƵĞĚ ďLJ ƚŚĞ /ŶƐƟƚƵƚĞ ŽĨ ŚĂƌƚĞƌĞĚ ĐĐŽƵŶƚĂŶƚƐ ŽĨ /ŶĚŝĂ͘ dŚŽƐĞ ^ƚĂŶĚĂƌĚƐ ď͘ /ŶŽƵƌŽƉŝŶŝŽŶƉƌŽƉĞƌŬƐŽĨĂĐĐŽƵŶƚĂƐƌĞƋƵŝƌĞĚďLJ ƌĞƋƵŝƌĞƚŚĂƚǁĞĐŽŵƉůLJǁŝƚŚĞƚŚŝĐĂůƌĞƋƵŝƌĞŵĞŶƚƐĂŶĚƉůĂŶĂŶĚ ůĂǁŚĂǀĞďĞĞŶŬĞƉƚďLJƚŚĞŽŵƉĂŶLJƐŽĨĂƌĂƐĂƉƉĞĂƌƐ ƉĞƌĨŽƌŵƚŚĞĂƵĚŝƚƚŽŽďƚĂŝŶƌĞĂƐŽŶĂďůĞĂƐƐƵƌĂŶĐĞĂďŽƵƚǁŚĞƚŚĞƌ ĨƌŽŵŽƵƌĞdžĂŵŝŶĂƟŽŶŽĨƚŚŽƐĞŬƐ͖ ƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƌĞĨƌĞĞĨƌŽŵŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚ͘ Đ͘ dŚĞĂůĂŶĐĞ^ŚĞĞƚ͕^ƚĂƚĞŵĞŶƚŽĨWƌŽĮƚĂŶĚ>ŽƐƐĂŶĚ Ŷ ĂƵĚŝƚ ŝŶǀŽůǀĞƐ ƉĞƌĨŽƌŵŝŶŐ ƉƌŽĐĞĚƵƌĞƐ ƚŽ ŽďƚĂŝŶ ĂƵĚŝƚ ĂƐŚ&ůŽǁ^ƚĂƚĞŵĞŶƚĚĞĂůƚǁŝƚŚďLJƚŚŝƐZĞƉŽƌƚĂƌĞŝŶ ĞǀŝĚĞŶĐĞ ĂďŽƵƚ ƚŚĞ ĂŵŽƵŶƚƐ ĂŶĚ ĚŝƐĐůŽƐƵƌĞƐ ŝŶ ƚŚĞ ĮŶĂŶĐŝĂů ĂŐƌĞĞŵĞŶƚǁŝƚŚƚŚĞŬƐŽĨĂĐĐŽƵŶƚ͖ ƐƚĂƚĞŵĞŶƚƐ͘ dŚĞ ƉƌŽĐĞĚƵƌĞƐ ƐĞůĞĐƚĞĚ ĚĞƉĞŶĚ ŽŶ ƚŚĞ ĂƵĚŝƚŽƌ͛Ɛ Ě͘ /ŶŽƵƌŽƉŝŶŝŽŶ͕ƚŚĞĂůĂŶĐĞ^ŚĞĞƚ͕^ƚĂƚĞŵĞŶƚŽĨWƌŽĮƚ ũƵĚŐŵĞŶƚ͕ŝŶĐůƵĚŝŶŐƚŚĞĂƐƐĞƐƐŵĞŶƚŽĨƚŚĞƌŝƐŬƐŽĨƚŚĞŵĂƚĞƌŝĂů ĂŶĚ>ŽƐƐĂŶĚĂƐŚ&ůŽǁ^ƚĂƚĞŵĞŶƚĐŽŵƉůLJǁŝƚŚƚŚĞ ŵŝƐƐƚĂƚĞŵĞŶƚŽĨƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ǁŚĞƚŚĞƌĚƵĞƚŽĨƌĂƵĚ ĐĐŽƵŶƟŶŐ^ƚĂŶĚĂƌĚƐƌĞĨĞƌƌĞĚƚŽŝŶƐƵďͲƐĞĐƟŽŶ;ϯͿ ŽƌĞƌƌŽƌ͘/ŶŵĂŬŝŶŐƚŚŽƐĞƌŝƐŬĂƐƐĞƐƐŵĞŶƚƐ͕ƚŚĞĂƵĚŝƚŽƌĐŽŶƐŝĚĞƌƐ ŽĨƐĞĐƟŽŶϮϭϭŽĨƚŚĞĐƚ͖ ŝŶƚĞƌŶĂů ĐŽŶƚƌŽů ƌĞůĞǀĂŶƚ ƚŽ ƚŚĞ ŽŵƉĂŶLJ͛Ɛ ƉƌĞƉĂƌĂƟŽŶ ĂŶĚ ĨĂŝƌƉƌĞƐĞŶƚĂƟŽŶŽĨƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŝŶŽƌĚĞƌƚŽĚĞƐŝŐŶ Ğ͘ KŶ ƚŚĞ ďĂƐŝƐ ŽĨ ǁƌŝƩĞŶ ƌĞƉƌĞƐĞŶƚĂƟŽŶƐ ƌĞĐĞŝǀĞĚ ĂƵĚŝƚƉƌŽĐĞĚƵƌĞƐƚŚĂƚĂƌĞĂƉƉƌŽƉƌŝĂƚĞŝŶƚŚĞĐŝƌĐƵŵƐƚĂŶĐĞƐ͘Ŷ ĨƌŽŵƚŚĞŝƌĞĐƚŽƌƐĂƐŽŶϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ͕ĂŶĚƚĂŬĞŶ ĂƵĚŝƚĂůƐŽŝŶĐůƵĚĞƐĞǀĂůƵĂƟŶŐƚŚĞĂƉƉƌŽƉƌŝĂƚĞŶĞƐƐŽĨĂĐĐŽƵŶƟŶŐ ŽŶ ƌĞĐŽƌĚ ďLJ ƚŚĞ ŽĂƌĚ ŽĨ ŝƌĞĐƚŽƌƐ͕ ŶŽŶĞ ŽĨ ƚŚĞ ƉŽůŝĐŝĞƐ ƵƐĞĚ ĂŶĚ ƌĞĂƐŽŶĂďůĞŶĞƐƐ ŽĨ ƚŚĞ ĂĐĐŽƵŶƟŶŐ ĞƐƟŵĂƚĞƐ ŝƌĞĐƚŽƌƐŝƐĚŝƐƋƵĂůŝĮĞĚĂƐŽŶϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ͕ĨƌŽŵ ŵĂĚĞ ďLJ ŵĂŶĂŐĞŵĞŶƚ͕ ĂƐ ǁĞůů ĂƐ ĞǀĂůƵĂƟŶŐ ƚŚĞ ŽǀĞƌĂůů ďĞŝŶŐĂƉƉŽŝŶƚĞĚĂƐĂŝƌĞĐƚŽƌŝŶƚĞƌŵƐŽĨĐůĂƵƐĞ;ŐͿŽĨ ƉƌĞƐĞŶƚĂƟŽŶŽĨƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ ƐƵďͲƐĞĐƟŽŶ;ϭͿŽĨƐĞĐƟŽŶϮϳϰŽĨƚŚĞĐƚ͘ tĞďĞůŝĞǀĞƚŚĂƚƚŚĞĂƵĚŝƚĞǀŝĚĞŶĐĞǁĞŚĂǀĞŽďƚĂŝŶĞĚŝƐƐƵĸĐŝĞŶƚ ĂŶĚĂƉƉƌŽƉƌŝĂƚĞƚŽƉƌŽǀŝĚĞĂďĂƐŝƐĨŽƌŽƵƌĂƵĚŝƚŽƉŝŶŝŽŶ͘ &ŽƌS. S. KOTHARI MEHTA & COMPANY OPINION ŚĂƌƚĞƌĞĚĐĐŽƵŶƚĂŶƚƐ /ŶŽƵƌŽƉŝŶŝŽŶĂŶĚƚŽƚŚĞďĞƐƚŽĨŽƵƌŝŶĨŽƌŵĂƟŽŶĂŶĚĂĐĐŽƌĚŝŶŐ &ŝƌŵZĞŐŝƐƚƌĂƟŽŶEŽ͘ϬϬϬϳϱϲE ƚŽ ƚŚĞ ĞdžƉůĂŶĂƟŽŶƐ ŐŝǀĞŶ ƚŽ ƵƐ͕ ƚŚĞ ƐĂŝĚ ĂĐĐŽƵŶƚƐ ŐŝǀĞ ƚŚĞ ŝŶĨŽƌŵĂƟŽŶ ƌĞƋƵŝƌĞĚ ďLJ ƚŚĞ Đƚ͕ ŝŶ ƚŚĞ ŵĂŶŶĞƌ ƐŽ ƌĞƋƵŝƌĞĚ ĂŶĚŐŝǀĞĂƚƌƵĞĂŶĚĨĂŝƌǀŝĞǁŝŶĐŽŶĨŽƌŵŝƚLJǁŝƚŚƚŚĞĂĐĐŽƵŶƟŶŐ ƉƌŝŶĐŝƉůĞƐŐĞŶĞƌĂůůLJĂĐĐĞƉƚĞĚŝŶ/ŶĚŝĂ͗ K. K. Tulshan WůĂĐĞ͗EĞǁĞůŚŝ WĂƌƚŶĞƌ ŝͿ /ŶƚŚĞĐĂƐĞŽĨƚŚĞĂůĂŶĐĞ^ŚĞĞƚ͕ŽĨƚŚĞƐƚĂƚĞŽĨĂīĂŝƌƐŽĨ ƚŚĞŽŵƉĂŶLJĂƐĂƚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ͖ ĂƚĞ͗ϮϱƚŚƉƌŝů͕ϮϬϭϯ DĞŵďĞƌƐŚŝƉEŽ͘ϴϱϬϯϯ

136 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Annexure Re: Jindal Steel & Power Limited Referred to in clause 1 of paragraph on ‘Report on Other Legal and Regulatory Requirements of our report of even date,

ϭ͘ ;ĂͿ dŚĞŽŵƉĂŶLJŚĂƐŵĂŝŶƚĂŝŶĞĚƉƌŽƉĞƌƌĞĐŽƌĚƐƐŚŽǁŝŶŐ ĂƵĚŝƟŶŐ ƉƌĂĐƟĐĞƐ ŝŶ /ŶĚŝĂ͕ ǁĞ ŚĂǀĞ ŶĞŝƚŚĞƌ ĐŽŵĞ ĂĐƌŽƐƐ ĨƵůů ƉĂƌƟĐƵůĂƌƐ ŝŶĐůƵĚŝŶŐ ƋƵĂŶƟƚĂƟǀĞ ĚĞƚĂŝůƐ ĂŶĚ ŶŽƌ ŚĂǀĞ ǁĞ ďĞĞŶ ŝŶĨŽƌŵĞĚ ŽĨ ĂŶLJ ŝŶƐƚĂŶĐĞ ŽĨ Ă ŵĂũŽƌ ƐŝƚƵĂƟŽŶŽĨĮdžĞĚĂƐƐĞƚƐ͘ ǁĞĂŬŶĞƐƐŝŶƚŚĞĂĨŽƌĞƐĂŝĚŝŶƚĞƌŶĂůĐŽŶƚƌŽůƐLJƐƚĞŵƐ͘  ;ďͿ dŚĞ ŽŵƉĂŶLJ ŚĂƐ Ă ƉŚĂƐĞĚ ƉƌŽŐƌĂŵŵĞ ŽĨ ƉŚLJƐŝĐĂů ϱ͘ ;ĂͿ dŽ ƚŚĞ ďĞƐƚ ŽĨ ŽƵƌ ŬŶŽǁůĞĚŐĞ ĂŶĚ ĂĐĐŽƌĚŝŶŐ ƚŽ ƚŚĞ ǀĞƌŝĮĐĂƟŽŶŽĨŝƚƐĮdžĞĚĂƐƐĞƚƐǁŚŝĐŚ͕ŝŶŽƵƌŽƉŝŶŝŽŶ͕ŝƐ ŝŶĨŽƌŵĂƟŽŶ ĂŶĚ ĞdžƉůĂŶĂƟŽŶƐ ŐŝǀĞŶ ƚŽ ƵƐ͕ ǁĞ ĂƌĞ ƌĞĂƐŽŶĂďůĞŚĂǀŝŶŐƌĞŐĂƌĚƚŽƚŚĞƐŝnjĞŽĨƚŚĞŽŵƉĂŶLJ ŽĨ ƚŚĞ ŽƉŝŶŝŽŶ ƚŚĂƚ ƚŚĞ ƉĂƌƟĐƵůĂƌƐ ŽĨ ĐŽŶƚƌĂĐƚƐ Žƌ ĂŶĚƚŚĞŶĂƚƵƌĞŽĨŝƚƐĂƐƐĞƚƐ͘ƐƉĂƌƚŽĨƚŚŝƐƉƌŽŐƌĂŵŵĞ͕ ĂƌƌĂŶŐĞŵĞŶƚƐƚŚĂƚŶĞĞĚƚŽďĞĞŶƚĞƌĞĚŝŶƚŽƚŚĞƌĞŐŝƐƚĞƌ ƚŚĞŵĂŶĂŐĞŵĞŶƚŚĂƐƉŚLJƐŝĐĂůůLJǀĞƌŝĮĞĚĐĞƌƚĂŝŶĮdžĞĚ ŵĂŝŶƚĂŝŶĞĚƵŶĚĞƌƐĞĐƟŽŶϯϬϭŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ ĂƐƐĞƚƐ ĚƵƌŝŶŐ ƚŚĞ LJĞĂƌ͘  ŝƐĐƌĞƉĂŶĐŝĞƐ ŶŽƟĐĞĚ ŽŶ ϭϵϱϲŚĂǀĞďĞĞŶƐŽĞŶƚĞƌĞĚ͘ ƐƵĐŚǀĞƌŝĮĐĂƟŽŶĂƐĐŽŵƉĂƌĞĚƚŽŬƌĞĐŽƌĚƐǁĞƌĞ  ;ďͿ /ŶŽƵƌŽƉŝŶŝŽŶĂŶĚĂĐĐŽƌĚŝŶŐƚŽƚŚĞŝŶĨŽƌŵĂƟŽŶĂŶĚ ŶŽƚŵĂƚĞƌŝĂů͕ĂŶĚŚĂǀĞďĞĞŶƉƌŽƉĞƌůLJĂĚũƵƐƚĞĚŝŶƚŚĞ ĞdžƉůĂŶĂƟŽŶƐ ŐŝǀĞŶ ƚŽ ƵƐ͕ ƚŚĞ ƚƌĂŶƐĂĐƟŽŶƐ ĞŶƚĞƌĞĚ ŬƐŽĨĂĐĐŽƵŶƚ͘ ŝŶƚŽŝŶƉƵƌƐƵĂŶĐĞŽĨĐŽŶƚƌĂĐƚƐŽƌĂƌƌĂŶŐĞŵĞŶƚƐ͕ǁŝƚŚ  ;ĐͿ &ŝdžĞĚ ĂƐƐĞƚƐ ĚŝƐƉŽƐĞĚ Žī ĚƵƌŝŶŐ ƚŚĞ LJĞĂƌ ǁĞƌĞ ŶŽƚ ǁŚŽŵƚƌĂŶƐĂĐƟŽŶƐĞdžĐĞĞĚŝŶŐƚŚĞǀĂůƵĞŽĨZƵƉĞĞƐĮǀĞ ƐƵďƐƚĂŶƟĂůƐŽĂƐƚŽŝŵƉĂĐƚŐŽŝŶŐĐŽŶĐĞƌŶƐƚĂƚƵƐŽĨƚŚĞ ůĂĐƐŝŶƌĞƐƉĞĐƚŽĨĞĂĐŚƉĂƌƚLJŚĂǀĞƚĂŬĞŶƉůĂĐĞĚƵƌŝŶŐ ŽŵƉĂŶLJ͘ ƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͕ĂƌĞĂƚƉƌŝĐĞƐǁŚŝĐŚĂƌĞƌĞĂƐŽŶĂďůĞ Ϯ͘ ;ĂͿ Ɛ ĞdžƉůĂŝŶĞĚ ƚŽ ƵƐ͕ ƉŚLJƐŝĐĂů ǀĞƌŝĮĐĂƟŽŶ ŚĂƐ ďĞĞŶ ŚĂǀŝŶŐƌĞŐĂƌĚƚŽƚŚĞƉƌĞǀĂŝůŝŶŐŵĂƌŬĞƚƉƌŝĐĞƐĂƚƚŚĞ ĐŽŶĚƵĐƚĞĚ ďLJ ƚŚĞ ŵĂŶĂŐĞŵĞŶƚ Ăƚ ƌĞĂƐŽŶĂďůĞ ƌĞůĞǀĂŶƚƟŵĞǁŚĞƌĞƐƵĐŚŵĂƌŬĞƚƉƌŝĐĞƐĂƌĞĂǀĂŝůĂďůĞ͘ ŝŶƚĞƌǀĂůƐ ŝŶ ƌĞƐƉĞĐƚ ŽĨ ĮŶŝƐŚĞĚ ŐŽŽĚƐ͕ ƐƚŽƌĞƐ ĂŶĚ ϲ͘ /Ŷ ƌĞƐƉĞĐƚ ŽĨ ĮdžĞĚ ĚĞƉŽƐŝƚƐ ĂĐĐĞƉƚĞĚ ĨƌŽŵ ƚŚĞ ƉƵďůŝĐ ŝŶ ƐƉĂƌĞƉĂƌƚƐĂŶĚƌĂǁŵĂƚĞƌŝĂůƐ͘&ƵƌƚŚĞƌ͕ƐƚŽĐŬƐŝŶƚŚĞ ĞĂƌůŝĞƌ LJĞĂƌƐ͕ ƚŚĞ ƉƌŽǀŝƐŝŽŶƐ ŽĨ ƐĞĐƟŽŶ ϱϴ ĂŶĚ ϱϴ Žƌ ƉŽƐƐĞƐƐŝŽŶ ĂŶĚ ĐƵƐƚŽĚLJ ŽĨ ƚŚŝƌĚ ƉĂƌƟĞƐ ĂŶĚ ƐƚŽĐŬ ĂŶLJŽƚŚĞƌƌĞůĞǀĂŶƚƉƌŽǀŝƐŝŽŶƐŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲ ŝŶƚƌĂŶƐŝƚĂƐĂƚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯŚĂǀĞďĞĞŶǀĞƌŝĮĞĚ ŝŶĐůƵĚŝŶŐ ƚŚĞ ŽŵƉĂŶŝĞƐ ;ĐĐĞƉƚĂŶĐĞ ŽĨ ĞƉŽƐŝƚƐͿ ZƵůĞƐ͕ ďLJ ƚŚĞ ŵĂŶĂŐĞŵĞŶƚ ǁŝƚŚ ƌĞĨĞƌĞŶĐĞ ƚŽ ĐŽŶĮƌŵĂƟŽŶ ϭϵϳϱ ŚĂǀĞ ďĞĞŶ ĐŽŵƉůŝĞĚ ǁŝƚŚ͘ tĞ ŚĂǀĞ ďĞĞŶ ŝŶĨŽƌŵĞĚ Žƌ ƐƚĂƚĞŵĞŶƚ ŽĨ ĂĐĐŽƵŶƚ Žƌ ĐŽƌƌĞƐƉŽŶĚĞŶĐĞ ǁŝƚŚ ƚŚĂƚŶŽKƌĚĞƌŚĂƐďĞĞŶƉĂƐƐĞĚďLJƚŚĞŽŵƉĂŶLJ>ĂǁŽĂƌĚ ƚŚĞ ƚŚŝƌĚ ƉĂƌƟĞƐ Žƌ ƐƵďƐĞƋƵĞŶƚ ƌĞĐĞŝƉƚƐ ŽĨ ŐŽŽĚƐ͘ ŽƌEĂƟŽŶĂůŽŵƉĂŶLJ>ĂǁdƌŝďƵŶĂůŽƌZĞƐĞƌǀĞĂŶŬŽĨ/ŶĚŝĂ /Ŷ ŽƵƌ ŽƉŝŶŝŽŶ͕ƚŚĞ ĨƌĞƋƵĞŶĐLJŽĨ ƐƵĐŚ ǀĞƌŝĮĐĂƟŽŶ ŝƐ ŽƌĂŶLJŽƵƌƚŽƌĂŶLJŽƚŚĞƌdƌŝďƵŶĂůŝŶƚŚŝƐƌĞŐĂƌĚ͘ ƌĞĂƐŽŶĂďůĞ͘ ϳ͘ /ŶŽƵƌŽƉŝŶŝŽŶ͕ƚŚĞŽŵƉĂŶLJŚĂƐĂŶŝŶƚĞƌŶĂůĂƵĚŝƚƐLJƐƚĞŵ  ;ďͿ dŚĞ ƉƌŽĐĞĚƵƌĞƐ ĨŽƌ ƚŚĞ ƉŚLJƐŝĐĂů ǀĞƌŝĮĐĂƟŽŶ ŽĨ ĐŽŵŵĞŶƐƵƌĂƚĞǁŝƚŚƚŚĞƐŝnjĞĂŶĚŶĂƚƵƌĞŽĨŝƚƐďƵƐŝŶĞƐƐ͘ ŝŶǀĞŶƚŽƌŝĞƐĨŽůůŽǁĞĚďLJƚŚĞŵĂŶĂŐĞŵĞŶƚĂƌĞ͕ŝŶŽƵƌ ŽƉŝŶŝŽŶ͕ƌĞĂƐŽŶĂďůĞĂŶĚĂĚĞƋƵĂƚĞŝŶƌĞůĂƟŽŶƚŽƚŚĞ ϴ͘ tĞ ŚĂǀĞ ďƌŽĂĚůLJ ƌĞǀŝĞǁĞĚ ƚŚĞ ĐŽƐƚ ĂĐĐŽƵŶƟŶŐ ƌĞĐŽƌĚƐ ƐŝnjĞŽĨƚŚĞŽŵƉĂŶLJĂŶĚƚŚĞŶĂƚƵƌĞŽĨŝƚƐďƵƐŝŶĞƐƐ͘ ŵĂŝŶƚĂŝŶĞĚ ďLJ ƚŚĞ ŽŵƉĂŶLJ ƉƵƌƐƵĂŶƚ ƚŽ ƚŚĞ ĐŽŵƉĂŶŝĞƐ ;ŽƐƚ ĐĐŽƵŶƟŶŐ ZĞĐŽƌĚƐͿ ZƵůĞƐ͕ ϮϬϭϭ ƉƌĞƐĐƌŝďĞĚ ďLJ  ;ĐͿ /Ŷ ŽƵƌ ŽƉŝŶŝŽŶ͕ ƚŚĞ ŽŵƉĂŶLJ ŝƐ ŵĂŝŶƚĂŝŶŝŶŐ ƉƌŽƉĞƌ ƚŚĞ ĞŶƚƌĂů 'ŽǀĞƌŶŵĞŶƚ  ƵŶĚĞƌ ƐĞĐƟŽŶ ϮϬϵ ;ϭͿ;ĚͿ ŽĨ ƌĞĐŽƌĚƐ ŽĨ ŝŶǀĞŶƚŽƌLJ͘ dŚĞ ĚŝƐĐƌĞƉĂŶĐŝĞƐ ŶŽƟĐĞĚ ŽŶ ƚŚĞ ŽŵƉĂŶŝĞƐ Đƚ͕ ϭϵϱϲ ĂŶĚ ĂƌĞ ŽĨ ƚŚĞ ŽƉŝŶŝŽŶ ƚŚĂƚ͕ ƉŚLJƐŝĐĂůǀĞƌŝĮĐĂƟŽŶŽĨŝŶǀĞŶƚŽƌLJĂƐĐŽŵƉĂƌĞĚƚŽŬ ƉƌŝŵĂ ĨĂĐŝĞ͕ ƚŚĞ ƉƌĞƐĐƌŝďĞĚ  ƌĞĐŽƌĚƐ ŚĂǀĞ ďĞĞŶ ŵĂĚĞ Θ ƌĞĐŽƌĚƐ ǁĞƌĞ ŶŽƚ ŵĂƚĞƌŝĂů ĂŶĚ ŚĂǀĞ ďĞĞŶ ƉƌŽƉĞƌůLJ ŵĂŝŶƚĂŝŶĞĚ͘tĞĂƌĞ͕ŚŽǁĞǀĞƌ͕ŶŽƚƌĞƋƵŝƌĞĚƚŽĐĂƌƌLJŽƵƚĂ ĚĞĂůƚǁŝƚŚŝŶƚŚĞŬƐŽĨĂĐĐŽƵŶƚ͘ ĚĞƚĂŝůĞĚĞdžĂŵŝŶĂƟŽŶŽĨƚŚĞƐĂŵĞ͘ ϯ͘ ;ĂͿ dŚĞŽŵƉĂŶLJŚĂƐŶĞŝƚŚĞƌŐƌĂŶƚĞĚŶŽƌƚĂŬĞŶĂŶLJůŽĂŶƐ͕ ϵ͘ ;ĂͿ /Ŷ ŽƵƌ ŽƉŝŶŝŽŶ ĂŶĚ ĂĐĐŽƌĚŝŶŐ ƚŽ ƚŚĞ ŝŶĨŽƌŵĂƟŽŶ ĂŶĚ ƐĞĐƵƌĞĚŽƌƵŶƐĞĐƵƌĞĚ͕ƚŽͬĨƌŽŵĐŽŵƉĂŶŝĞƐ͕ĮƌŵƐŽƌ ĞdžƉůĂŶĂƟŽŶƐŐŝǀĞŶƚŽƵƐĂŶĚĂĐĐŽƌĚŝŶŐƚŽƚŚĞƌĞĐŽƌĚƐ ŽƚŚĞƌƉĂƌƟĞƐůŝƐƚĞĚŝŶƚŚĞƌĞŐŝƐƚĞƌŵĂŝŶƚĂŝŶĞĚƵŶĚĞƌ ŽĨƚŚĞŽŵƉĂŶLJ͕ƵŶĚŝƐƉƵƚĞĚƐƚĂƚƵƚŽƌLJĚƵĞƐŝŶĐůƵĚŝŶŐ ƐĞĐƟŽŶϯϬϭŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲ͘ĐĐŽƌĚŝŶŐůLJ͕ WƌŽǀŝĚĞŶƚ &ƵŶĚ͕ /ŶǀĞƐƚŽƌ ĚƵĐĂƟŽŶ ĂŶĚ WƌŽƚĞĐƟŽŶ ĐůĂƵƐĞƐ;ŝŝŝͿ;ĂͿƚŽ;ŐͿŽĨƉĂƌĂŐƌĂƉŚϰŽĨZKĂƌĞŶŽƚ &ƵŶĚ͕ ŵƉůŽLJĞĞƐ ^ƚĂƚĞ /ŶƐƵƌĂŶĐĞ͕ /ŶĐŽŵĞ ƚĂdž͕ ^ĂůĞƐ ĂƉƉůŝĐĂďůĞ͘ ƚĂdž͕tĞĂůƚŚƚĂdž͕^ĞƌǀŝĐĞƚĂdž͕ƵƐƚŽŵĚƵƚLJ͕džĐŝƐĞĚƵƚLJ͕ ϰ͘ /Ŷ ŽƵƌ ŽƉŝŶŝŽŶ ĂŶĚ ĂĐĐŽƌĚŝŶŐ ƚŽ ƚŚĞ ŝŶĨŽƌŵĂƟŽŶ Θ ĞƐƐ ĂŶĚ ŽƚŚĞƌ ŵĂƚĞƌŝĂů ƐƚĂƚƵƚŽƌLJ ĚƵĞƐ͕ ǁŚĞƌĞǀĞƌ ĞdžƉůĂŶĂƟŽŶƐŐŝǀĞŶƚŽƵƐĚƵƌŝŶŐƚŚĞĐŽƵƌƐĞŽĨĂƵĚŝƚ͕ƚŚĞƌĞ ĂƉƉůŝĐĂďůĞ͕ ŚĂǀĞ ďĞĞŶ ƌĞŐƵůĂƌůLJ ĚĞƉŽƐŝƚĞĚ ǁŝƚŚ ƚŚĞ ĂƌĞĂĚĞƋƵĂƚĞŝŶƚĞƌŶĂůĐŽŶƚƌŽůƐLJƐƚĞŵƐĐŽŵŵĞŶƐƵƌĂƚĞǁŝƚŚ ĂƉƉƌŽƉƌŝĂƚĞĂƵƚŚŽƌŝƟĞƐĚƵƌŝŶŐƚŚĞLJĞĂƌĂŶĚƚŚĞƌĞĂƌĞ ƚŚĞƐŝnjĞŽĨƚŚĞŽŵƉĂŶLJĂŶĚƚŚĞŶĂƚƵƌĞŽĨŝƚƐďƵƐŝŶĞƐƐǁŝƚŚ ŶŽƐƵĐŚƵŶĚŝƐƉƵƚĞĚƐƚĂƚƵƚŽƌLJĚƵĞƐƉĂLJĂďůĞĨŽƌĂƉĞƌŝŽĚ ƌĞŐĂƌĚƚŽƉƵƌĐŚĂƐĞŽĨŝŶǀĞŶƚŽƌŝĞƐĂŶĚĮdžĞĚĂƐƐĞƚƐĂŶĚĨŽƌ ŽĨŵŽƌĞƚŚĂŶƐŝdžŵŽŶƚŚƐĨƌŽŵƚŚĞĚĂƚĞƚŚĞLJďĞĐĂŵĞ ƚŚĞ ƐĂůĞ ŽĨ ŐŽŽĚƐ ĂŶĚ ƐĞƌǀŝĐĞƐ͘  &ƵƌƚŚĞƌ͕ŽŶ ƚŚĞ ďĂƐŝƐ ŽĨ ƉĂLJĂďůĞĂƐĂƚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯĞdžĐĞƉƚĨŽƌĐŽůůĞĐƟŽŶŽĨ ŽƵƌĞdžĂŵŝŶĂƟŽŶŽĨƚŚĞŬƐĂŶĚƌĞĐŽƌĚƐŽĨƚŚĞŽŵƉĂŶLJ͕ ^ĂůĞƐƚĂdžǁŚŝĐŚŚĂǀĞďĞĞŶĐŽůůĞĐƚĞĚƉĞŶĚŝŶŐƌĞĐĞŝƉƚŽĨ ĐĂƌƌŝĞĚ ŽƵƚ ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ƚŚĞ ŐĞŶĞƌĂůůLJ ĂĐĐĞƉƚĞĚ ŶĞĐĞƐƐĂƌLJĐĞƌƟĮĐĂƚĞƐĨƌŽŵƚŚĞĐƵƐƚŽŵĞƌƐ͘

137 Annual Report 2012-13  ;ďͿ ĐĐŽƌĚŝŶŐƚŽƚŚĞŝŶĨŽƌŵĂƟŽŶĂŶĚĞdžƉůĂŶĂƟŽŶƐŐŝǀĞŶƚŽƵƐĂŶĚĂƐƉĞƌƚŚĞŬƐĂŶĚƌĞĐŽƌĚƐĞdžĂŵŝŶĞĚďLJƵƐ͕ƚŚĞƌĞĂƌĞŶŽĚƵĞƐ ŽĨ/ŶĐŽŵĞƚĂdž͕^ĂůĞƐƚĂdž͕tĞĂůƚŚƚĂdž͕^ĞƌǀŝĐĞƚĂdž͕ƵƐƚŽŵĚƵƚLJ͕džĐŝƐĞĚƵƚLJĂŶĚĞƐƐǁŚŝĐŚŚĂǀĞŶŽƚďĞĞŶĚĞƉŽƐŝƚĞĚŽŶĂĐĐŽƵŶƚ ŽĨĂŶLJĚŝƐƉƵƚĞ͕ĞdžĐĞƉƚƚŚĞĨŽůůŽǁŝŶŐǁŚŝĐŚŚĂǀĞŶŽƚďĞĞŶĚĞƉŽƐŝƚĞĚĂƐŽŶϯϭƐƚDĂƌĐŚ͕ϮϬϭϯŽŶĂĐĐŽƵŶƚŽĨĚŝƐƉƵƚĞƐĂƌĞŐŝǀĞŶ ďĞůŽǁ͗

Name of Statute Nature of Dues Amount Forum where dispute is pending Amount Period to which ` in Crore Deposited the amount ` in Crore relates ĞŶƚƌĂůdžĐŝƐĞĂŶĚ^Ăůƚ džĐŝƐĞƵƚLJ Ϭ͘Ϭϰ ƉƉĞůůĂƚĞŽŵŵŝƐƐŝŽŶĞƌ͕ZĂŝƉƵƌ E/> &zϭϭͲϭϮƚŽ Đƚ͕ϭϵϰϰ ϭϮͲϭϯ ϭϱϲ͘ϲϵ ^dd͕EĞǁĞůŚŝ ϭϯ͘ϵϯ &zƐϵϵͲϭϯ ϭ͘Ϭϯ ŚŚĂƫƐŐĂƌŚ,ŝŐŚŽƵƌƚ͕ŝůĂƐƉƵƌ E/> &zϵϰͲϵϱƚŽ ϬϳͲϬϴ Ϭ͘ϭϬ DĂĚŚLJĂWƌĂĚĞƐŚ,ŝŐŚŽƵƌƚ͕ E/> &zϵϱͲϵϲ :ĂďĂůƉƵƌ ĞŶƚƌĂů^ĂůĞƐdĂdžĐƚͬ ŶƚƌLJdĂdž ϰϴ͘ϰϲ ĞƉƵƚLJŽŵŵŝƐƐŝŽŶĞƌ͕ ϭϲ͘Ϭϲ &zϭϬͲϭϭ >ŽĐĂů^ĂůĞƐdĂdžĐƚͬ ŽŵŵĞƌĐŝĂůdĂdž;ƉƉĞĂůƐͿ͕ ŶƚƌLJdĂdž ZŽƵƌŬĞůĂ Ϭ͘Ϭϭ ĞƉƵƚLJŽŵŵŝƐƐŝŽŶĞƌ͕ Ϭ͘ϬϬ &zϬϲͲϬϳ ŽŵŵĞƌĐŝĂůƚĂdž;ƉƉĞĂůƐͿ͕ ƵƩĂĐŬ Ϭ͘ϭϱ ĚĚŝƟŽŶĂůŽŵŵŝƐƐŝŽŶĞƌ͕ Ϭ͘ϬϮ &zϬϳͲϬϴ ŽŵŵĞƌĐŝĂůƚĂdž;ƉƉĞĂůƐͿ͕ ƵƩĂĐŬ ĞŶƚƌĂů^ĂůĞƐdĂdžĐƚͬ ^ƚĂƚĞ^ĂůĞƐdĂdžͬ Ϭ͘ϮϬ ĞƉƵƚLJŽŵŵŝƐƐŝŽŶĞƌ͕ Ϭ͘Ϭϰ &zϬϲͲϬϳ sĂůƵĞĂĚĚĞĚdĂdž ŽŵŵĞƌĐŝĂůdĂdž;ƉƉĞĂůƐͿ͕ ƵƩĂĐŬ >ŽĐĂů^ĂůĞƐdĂdžĐƚͬ Ϭ͘ϲϬ ĚĚŝƟŽŶĂůŽŵŵŝƐƐŝŽŶĞƌ͕ Ϭ͘Ϭϵ &zϬϳͲϬϴ ŶƚƌLJdĂdž ŽŵŵĞƌĐŝĂůƚĂdž;ƉƉĞĂůƐͿ͕ ƵƩĂĐŬ ĞŶƚƌĂů^ĂůĞƐdĂdžĐƚͬ ĞŶƚƌĂů^ĂůĞƐ Ϭ͘ϰϱ KƌŝƐƐĂ,ŝŐŚŽƵƌƚ͕ƵƩĂĐŬ Ϭ͘ϰϱ &zϬϰͲϬϱ >ŽĐĂů^ĂůĞƐdĂdžĐƚͬ dĂdž Ϭ͘ϰϴ ĞƉƵƚLJŽŵŵŝƐƐŝŽŶĞƌ͕ Ϭ͘ϭϰ &zϬϱͲϬϲ ŽŵŵĞƌĐŝĂůdĂdž͕ƵƩĂĐŬ ŶƚƌLJdĂdž Ϭ͘Ϯϰ ĞƉƵƚLJŽŵŵŝƐƐŝŽŶĞƌ͕ Ϭ͘ϭϱ &zϬϲͲϬϳ ŽŵŵĞƌĐŝĂůdĂdž͕ZŽƵƌŬĞůĂ ŚĂƫƐŐĂƌŚ^ƚĂƚĞ'Žǀƚ͘ ŶĞƌŐLJ ϭϴϯ͘ϭϵ ,ŽŶŽƵƌĂďůĞ^ƵƉƌĞŵĞŽƵƌƚ E/> &zϬϰͲϬϱƚŽ >Ăǁ ĞǀĞƉůŽŵĞŶƚĞƐƐ ϭϮͲϭϯ ƵƐŝŶĞƐƐΘKƚŚĞƌ ĞƐƐ Ϯ͘ϵϰ KƌŝƐƐĂ,ŝŐŚŽƵƌƚ͕ƵƩĂĐŬ Ϭ͘Ϭϱ &zƐϬϴͲϭϯ ŽŶƐƚƌƵĐƟŽŶǁŽƌŬĞƌƐ ǁĞůĨĂƌĞĐĞƐƐĐƚ͕ϭϵϵϲ /ŶĐŽŵĞdĂdžĐƚ͕ϭϵϲϭ /ŶĐŽŵĞdĂdž ϭϭ͘ϯϴ WƵŶũĂďĂŶĚ,ĂƌLJĂŶĂ,ŝŐŚŽƵƌƚ E/> zϬϰͲϬϱ ϭϳϲ͘ϴϲ /ŶĐŽŵĞdĂdžƉƉĞůůĂƚĞdƌŝďƵŶĂů͕ Ϯ͘ϵϬ zϬϱͲϬϲƚŽ EĞǁĞůŚŝ ϬϴͲϬϵ ϰ͘ϳϱ ŽŵŵŝƐƐŝŽŶĞƌŽĨ/ŶĐŽŵĞdĂdž E/> zϬϱͲϬϲΘϬϳͲϬϴ ;ƉƉĞůĂƐͿ͕ZŽŚƚĂŬ

138 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

ϭϬ͘ dŚĞ ŽŵƉĂŶLJ ĚŽĞƐ ŶŽƚ ŚĂǀĞ ĂĐĐƵŵƵůĂƚĞĚ ůŽƐƐĞƐ ĂƐ Ăƚ ƚŚĞ ŽǀĞƌĂůůĞdžĂŵŝŶĂƟŽŶŽĨƚŚĞĂůĂŶĐĞ^ŚĞĞƚŽĨƚŚĞŽŵƉĂŶLJ͕ ĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͘dŚĞƌĞĂƌĞŶŽĐĂƐŚůŽƐƐĞƐĚƵƌŝŶŐƚŚĞ ƚŚĞĨƵŶĚƐƌĂŝƐĞĚďLJƚŚĞŽŵƉĂŶLJŽŶƐŚŽƌƚͲƚĞƌŵďĂƐŝƐŚĂǀĞ ĮŶĂŶĐŝĂůLJĞĂƌĂŶĚŝŶƚŚĞŝŵŵĞĚŝĂƚĞůLJƉƌĞĐĞĚŝŶŐĮŶĂŶĐŝĂůLJĞĂƌ͘ ŶŽƚďĞĞŶĂƉƉůŝĞĚĨŽƌůŽŶŐͲƚĞƌŵŝŶǀĞƐƚŵĞŶƚ͘ ϭϭ͘ ĐĐŽƌĚŝŶŐ ƚŽ ƚŚĞ ŝŶĨŽƌŵĂƟŽŶ ĂŶĚ ĞdžƉůĂŶĂƟŽŶƐ ŐŝǀĞŶ ƚŽ ϭϴ͘ dŚĞŽŵƉĂŶLJŚĂƐŶŽƚŵĂĚĞĂŶLJƉƌĞĨĞƌĞŶƟĂůĂůůŽƚŵĞŶƚŽĨ ƵƐĂŶĚĂƐƉĞƌƚŚĞŬƐĂŶĚƌĞĐŽƌĚƐĞdžĂŵŝŶĞĚďLJƵƐ͕ƚŚĞ ƐŚĂƌĞƐ ƚŽ ƉĂƌƟĞƐ ĂŶĚ ĐŽŵƉĂŶŝĞƐ ĐŽǀĞƌĞĚ ŝŶ ƚŚĞ ƌĞŐŝƐƚĞƌ ŽŵƉĂŶLJŚĂƐŶŽƚĚĞĨĂƵůƚĞĚŝŶƌĞƉĂLJŵĞŶƚŽĨĚƵĞƐƚŽĂŶLJ ŵĂŝŶƚĂŝŶĞĚƵŶĚĞƌƐĞĐƟŽŶϯϬϭŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲ͘ ĮŶĂŶĐŝĂůŝŶƐƟƚƵƟŽŶŽƌďĂŶŬŽƌĚĞďĞŶƚƵƌĞŚŽůĚĞƌƐ͘ ϭϵ͘ ĐĐŽƌĚŝŶŐƚŽƚŚĞŝŶĨŽƌŵĂƟŽŶĂŶĚĞdžƉůĂŶĂƟŽŶƐŐŝǀĞŶƚŽƵƐ ϭϮ͘ ĐĐŽƌĚŝŶŐƚŽƚŚĞŝŶĨŽƌŵĂƟŽŶĂŶĚĞdžƉůĂŶĂƟŽŶƐŐŝǀĞŶƚŽƵƐ͕ ĂŶĚŽŶƚŚĞďĂƐŝƐŽĨƚŚĞƌĞĐŽƌĚƐĞdžĂŵŝŶĞĚďLJƵƐ͕ƚŚĞŽŵƉĂŶLJ ƚŚĞŽŵƉĂŶLJŚĂƐŶŽƚŐƌĂŶƚĞĚĂŶLJůŽĂŶƐĂŶĚĂĚǀĂŶĐĞƐŽŶ ŚĂƐĐƌĞĂƚĞĚŶĞĐĞƐƐĂƌLJƐĞĐƵƌŝƟĞƐĨŽƌƚŚĞĚĞďĞŶƚƵƌĞƐŝƐƐƵĞĚ ƚŚĞďĂƐŝƐŽĨƐĞĐƵƌŝƚLJďLJǁĂLJŽĨƉůĞĚŐĞŽĨƐŚĂƌĞƐ͕ĚĞďĞŶƚƵƌĞƐ ŝŶĞĂƌůŝĞƌLJĞĂƌƐ͘ ĂŶĚŽƚŚĞƌƐĞĐƵƌŝƟĞƐ͘ ϮϬ͘ dŚĞŽŵƉĂŶLJŚĂƐŶŽƚƌĂŝƐĞĚĂŶLJŵŽŶĞLJďLJǁĂLJŽĨƉƵďůŝĐ ϭϯ͘ dŚĞŽŵƉĂŶLJĚŽĞƐŶŽƚĨĂůůǁŝƚŚŝŶƚŚĞĐĂƚĞŐŽƌLJŽĨŚŝƚĨƵŶĚͬ ŝƐƐƵĞĚƵƌŝŶŐƚŚĞLJĞĂƌƐ͘ EŝĚŚŝͬDƵƚƵĂůĞŶĞĮƚĨƵŶĚͬ^ŽĐŝĞƚLJĂŶĚŚĞŶĐĞƚŚĞƌĞůĂƚĞĚ Ϯϭ͘ ƵƌŝŶŐ ƚŚĞ ĐŽƵƌƐĞ ŽĨ ŽƵƌ ĞdžĂŵŝŶĂƟŽŶ ŽĨ ƚŚĞ ŬƐ ĂŶĚ ƌĞƉŽƌƟŶŐƌĞƋƵŝƌĞŵĞŶƚƐŽĨƚŚĞKƌĚĞƌĂƌĞŶŽƚĂƉƉůŝĐĂďůĞ͘ ƌĞĐŽƌĚƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ĐĂƌƌŝĞĚ ŽƵƚ ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ϭϰ͘ ĐĐŽƌĚŝŶŐƚŽƚŚĞŝŶĨŽƌŵĂƟŽŶĂŶĚĞdžƉůĂŶĂƟŽŶƐŐŝǀĞŶƚŽƵƐ͕ ƚŚĞŐĞŶĞƌĂůůLJĂĐĐĞƉƚĞĚĂƵĚŝƟŶŐƉƌĂĐƟĐĞƐŝŶ/ŶĚŝĂ͕ǁĞŚĂǀĞ ƚŚĞŽŵƉĂŶLJŝƐŶŽƚĚĞĂůŝŶŐŽƌƚƌĂĚŝŶŐŝŶƐŚĂƌĞƐ͕ƐĞĐƵƌŝƟĞƐ͕ ŶĞŝƚŚĞƌ ĐŽŵĞ ĂĐƌŽƐƐ ĂŶLJ ŝŶƐƚĂŶĐĞ ŽĨ ĨƌĂƵĚ ŽŶ Žƌ ďLJ ƚŚĞ ĚĞďĞŶƚƵƌĞƐĂŶĚŽƚŚĞƌŝŶǀĞƐƚŵĞŶƚƐĂŶĚŚĞŶĐĞƚŚĞƌĞůĂƚĞĚ ŽŵƉĂŶLJ͕ŶŽƟĐĞĚĂŶĚƌĞƉŽƌƚĞĚĚƵƌŝŶŐƚŚĞLJĞĂƌ͕ŶŽƌŚĂǀĞ ƌĞƉŽƌƟŶŐƌĞƋƵŝƌĞŵĞŶƚƐŽĨƚŚĞKƌĚĞƌĂƌĞŶŽƚĂƉƉůŝĐĂďůĞ͘ ǁĞďĞĞŶŝŶĨŽƌŵĞĚŽĨƐƵĐŚĐĂƐĞďLJƚŚĞŵĂŶĂŐĞŵĞŶƚ͘ ϭϱ͘ dŚĞ ŽŵƉĂŶLJ ŚĂƐ ŐŝǀĞŶ ŐƵĂƌĂŶƚĞĞƐ ĂŐĂŝŶƐƚ ůŽĂŶƐ ƚĂŬĞŶ ďLJŽƚŚĞƌƐĨƌŽŵďĂŶŬƐĂŶĚĮŶĂŶĐŝĂůŝŶƐƟƚƵƟŽŶƐ͖ƚŚĞƚĞƌŵƐ ĂŶĚ ĐŽŶĚŝƟŽŶƐ ŽĨ ƐƵĐŚ ŐƵĂƌĂŶƚĞĞƐ ĂƌĞ ŶŽƚ͕ ƉƌŝŵĂ ĨĂĐŝĞ͕ &ŽƌS. S. KOTHARI MEHTA & COMPANY ƉƌĞũƵĚŝĐŝĂůƚŽƚŚĞŝŶƚĞƌĞƐƚŽĨƚŚĞŽŵƉĂŶLJ͘ ŚĂƌƚĞƌĞĚĐĐŽƵŶƚĂŶƚƐ ϭϲ͘ /Ŷ ŽƵƌ ŽƉŝŶŝŽŶ ĂŶĚ ĂĐĐŽƌĚŝŶŐ ƚŽ ƚŚĞ ŝŶĨŽƌŵĂƟŽŶ ĂŶĚ &ŝƌŵZĞŐŝƐƚƌĂƟŽŶEŽ͘ϬϬϬϳϱϲE ĞdžƉůĂŶĂƟŽŶƐŐŝǀĞŶƚŽƵƐ͕ƚŚĞƚĞƌŵůŽĂŶƐƌĂŝƐĞĚĚƵƌŝŶŐƚŚĞ LJĞĂƌďLJƚŚĞŽŵƉĂŶLJŚĂǀĞďĞĞŶĂƉƉůŝĞĚĨŽƌƚŚĞƉƵƌƉŽƐĞ ĨŽƌǁŚŝĐŚƚŚĞƐĂŝĚůŽĂŶƐǁĞƌĞŽďƚĂŝŶĞĚ͕ǁŚĞƌĞƚŚĞůĞŶĚĞƌƐ ŚĂǀĞƐƟƉƵůĂƚĞĚƐƵĐŚĞŶĚƵƐĞ͘ K. K. Tulshan ϭϳ͘ ĐĐŽƌĚŝŶŐƚŽƚŚĞŝŶĨŽƌŵĂƟŽŶĂŶĚĞdžƉůĂŶĂƟŽŶƐŐŝǀĞŶƚŽƵƐ WůĂĐĞ͗EĞǁĞůŚŝ WĂƌƚŶĞƌ ĂŶĚĂƐƉĞƌƚŚĞŬƐĂŶĚƌĞĐŽƌĚƐĞdžĂŵŝŶĞĚďLJƵƐ͕ŽŶĂŶ ĂƚĞ͗ϮϱƚŚƉƌŝů͕ϮϬϭϯ DĞŵďĞƌƐŚŝƉEŽ͘ϴϱϬϯϯ

139 Annual Report 2012-13 Balance Sheet as at 31st March, 2013

;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ Note No. 31st March, 2013 31st March, 2012 I. EQUITY AND LIABILITIES (1) Shareholders’ Funds ;ĂͿ ^ŚĂƌĞĐĂƉŝƚĂů ϯ ϵϯ͘ϰϴ ϵϯ͘ϰϴ ;ďͿ ZĞƐĞƌǀĞƐĂŶĚƐƵƌƉůƵƐ ϰ ϭϮ͕Ϯϱϰ͘ϱϵ ϭϬ͕ϳϱϭ͘ϵϯ (2) EŽŶͲƵƌƌĞŶƚ>ŝĂďŝůŝƟĞƐ ;ĂͿ >ŽŶŐͲƚĞƌŵďŽƌƌŽǁŝŶŐƐ ϱ ϭϭ͕ϴϲϬ͘ϵϮ ϴ͕ϰϵϯ͘ϵϮ ;ďͿ ĞĨĞƌƌĞĚƚĂdžůŝĂďŝůŝƟĞƐ;EĞƚͿ ϯϭ ϭ͕Ϯϭϰ͘ϵϲ ϭ͕Ϭϲϳ͘ϴϭ ;ĐͿ KƚŚĞƌůŽŶŐͲƚĞƌŵůŝĂďŝůŝƟĞƐ ϲ ϱϲϬ͘ϱϴ ϭϰϭ͘Ϯϰ ;ĚͿ >ŽŶŐͲƚĞƌŵƉƌŽǀŝƐŝŽŶƐ ϳ ϮϬ͘ϵϰ ϭϴ͘ϳϮ (3) ƵƌƌĞŶƚ>ŝĂďŝůŝƟĞƐ ;ĂͿ ^ŚŽƌƚͲƚĞƌŵďŽƌƌŽǁŝŶŐƐ ϴ ϳ͕ϲϰϬ͘ϬϮ ϱ͕ϴϳϴ͘ϱϰ ;ďͿ dƌĂĚĞƉĂLJĂďůĞƐ ϵ ϲϮϴ͘ϮϬ ϵϵϴ͘ϯϭ ;ĐͿ KƚŚĞƌĐƵƌƌĞŶƚůŝĂďŝůŝƟĞƐ ϭϬ Ϯ͕ϱϴϰ͘ϯϵ ϯ͕ϲϲϭ͘ϱϯ ;ĚͿ ^ŚŽƌƚͲƚĞƌŵƉƌŽǀŝƐŝŽŶƐ ϭϭ Ϯ͕ϵϱϭ͘ϴϱ Ϯ͕ϰϱϮ͘ϲϯ Total 39,809.93 33,558.11 II. ASSETS (1) Non-Current Assets ;ĂͿ &ŝdžĞĚĂƐƐĞƚƐ ;ŝͿ dĂŶŐŝďůĞĂƐƐĞƚƐ ϭϮ ϭϰ͕ϭϰϮ͘ϭϴ ϭϭ͕ϱϯϮ͘ϯϬ ;ŝŝͿ /ŶƚĂŶŐŝďůĞĂƐƐĞƚƐ ϭϮ ϭϰ͘Ϭϭ ϭϲ͘ϳϭ ;ŝŝŝͿ ĂƉŝƚĂůǁŽƌŬͲŝŶͲƉƌŽŐƌĞƐƐ ϭϮ ϭϭ͕ϰϲϲ͘ϭϮ ϭϬ͕ϰϳϵ͘ϴϲ ;ŝǀͿ /ŶƚĂŶŐŝďůĞĂƐƐĞƚƐƵŶĚĞƌĚĞǀĞůŽƉŵĞŶƚ ϭϳ͘ϴϮ ϭϰ͘ϭϬ ;ďͿ EŽŶͲĐƵƌƌĞŶƚŝŶǀĞƐƚŵĞŶƚƐ ϭϯ ϭ͕ϯϯϬ͘ϳϮ ϭ͕ϰϭϮ͘ϭϳ ;ĐͿ >ŽŶŐƚĞƌŵůŽĂŶƐĂŶĚĂĚǀĂŶĐĞƐ ϭϰ ϭ͕ϮϮϱ͘ϰϲ ϵϵϳ͘ϭϬ ;ĚͿ KƚŚĞƌŶŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐ ϭϱ Ϭ͘ϱϱ ϰ͘ϲϯ (2) Current Assets ;ĂͿ /ŶǀĞŶƚŽƌŝĞƐ ϭϲ ϯ͕ϱϵϴ͘ϱϮ ϯ͕Ϭϱϭ͘ϯϭ ;ďͿ dƌĂĚĞƌĞĐĞŝǀĂďůĞƐ ϭϳ ϭ͕ϰϮϲ͘ϭϯ ϵϬϱ͘Ϭϲ ;ĐͿ ĂƐŚĂŶĚďĂŶŬďĂůĂŶĐĞƐ ϭϴ ϯϲ͘ϳϳ ϯϬ͘ϵϰ ;ĚͿ ^ŚŽƌƚͲƚĞƌŵůŽĂŶƐĂŶĚĂĚǀĂŶĐĞƐ ϭϵ ϱ͕ϵϰϯ͘ϱϰ ϰ͕ϴϬϲ͘Ϯϵ ;ĞͿ KƚŚĞƌĐƵƌƌĞŶƚĂƐƐĞƚƐ ϮϬ ϲϬϴ͘ϭϭ ϯϬϳ͘ϲϰ Total 39,809.93 33,558.11

^ŝŐŶŝĮĐĂŶƚĐĐŽƵŶƟŶŐWŽůŝĐŝĞƐ ϭΘϮ

dŚĞŶŽƚĞƐƌĞĨĞƌƌĞĚƚŽĂďŽǀĞĨŽƌŵĂŶŝŶƚĞŐƌĂůƉĂƌƚŽĨĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ /ŶƚĞƌŵƐŽĨŽƵƌƌĞƉŽƌƚŽĨĞǀĞŶĚĂƚĞ &ŽƌΘŽŶďĞŚĂůĨŽĨƚŚĞŽĂƌĚ For S. S. Kothari Mehta & Co. Naveen Jindal Ravi Uppal ŚĂƌƚĞƌĞĚĐĐŽƵŶƚĂŶƚƐ ŚĂŝƌŵĂŶ DĂŶĂŐŝŶŐŝƌĞĐƚŽƌΘK &ŝƌŵZĞŐŝƐƚƌĂƟŽŶEŽ͘ϬϬϬϳϱϲE /E͗ϬϬϬϬϭϱϮϯ /E͗ϬϬϬϮϱϵϳϬ

K. K. Tulshan Anand Goel Sushil K Maroo WĂƌƚŶĞƌ :ŽŝŶƚDĂŶĂŐŝŶŐŝƌĞĐƚŽƌ ĞƉƵƚLJDĂŶĂŐŝŶŐŝƌĞĐƚŽƌ DĞŵďĞƌƐŚŝƉEŽ͘ϴϱϬϯϯ /E͗ϬϬϬϬϭϲϯϱ /E͗ϬϬϬϱϰϭϬϭ WůĂĐĞ͗EĞǁĞůŚŝ K. Rajagopal T. K. Sadhu ĂƚĞĚ͗ϮϱƚŚƉƌŝů͕ϮϬϭϯ 'ƌŽƵƉ&KΘŝƌĞĐƚŽƌ ŽŵƉĂŶLJ^ĞĐƌĞƚĂƌLJ

140 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

^ƚĂƚĞŵĞŶƚŽĨWƌŽĮƚĂŶĚ>ŽƐƐ for the year ended 31st March, 2013

;`ŝŶƌŽƌĞͿ Year ended Year ended WĂƌƟĐƵůĂƌƐ Note No. 31st March, 2013 31st March, 2012 REVENUE ZĞǀĞŶƵĞĨƌŽŵŽƉĞƌĂƟŽŶƐ;ŐƌŽƐƐͿ Ϯϭ ϭϲ͕ϴϴϱ͘ϴϰ ϭϰ͕ϳϰϭ͘ϴϭ >ĞƐƐ͗džĐŝƐĞĚƵƚLJ ϭ͕ϵϯϭ͘ϭϰ ϭ͕ϰϬϳ͘ϴϲ ZĞǀĞŶƵĞĨƌŽŵŽƉĞƌĂƟŽŶƐ;ŶĞƚͿ ϭϰ͕ϵϱϰ͘ϳϬ ϭϯ͕ϯϯϯ͘ϵϱ KƚŚĞƌŝŶĐŽŵĞ ϮϮ ϭϱϵ͘Ϯϴ ϭϴϰ͘ϰϴ Total Revenue 15,113.98 13,518.43 EXPENSES ŽƐƚŽĨŵĂƚĞƌŝĂůƐĐŽŶƐƵŵĞĚ Ϯϯ ϰ͕ϵϰϯ͘ϯϬ ϰ͕ϱϮϵ͘ϴϰ WƵƌĐŚĂƐĞŽĨƐƚŽĐŬͲŝŶͲƚƌĂĚĞ Ϯϰ Ϯϴϲ͘ϱϴ ϰϱϮ͘ϳϱ ŚĂŶŐĞƐŝŶŝŶǀĞŶƚŽƌŝĞƐŽĨĮŶŝƐŚĞĚŐŽŽĚƐ͕ǁŽƌŬͲŝŶͲƉƌŽĐĞƐƐĂŶĚƐƚŽĐŬͲ Ϯϱ ;ϭϰϴ͘ϮϬͿ ;ϯϳϵ͘ϮϰͿ ŝŶͲƚƌĂĚĞ ŵƉůŽLJĞĞďĞŶĞĮƚƐĞdžƉĞŶƐĞ Ϯϲ ϰϰϳ͘ϴϵ ϯϴϱ͘ϰϰ &ŝŶĂŶĐĞĐŽƐƚƐ Ϯϳ ϴϮϬ͘ϳϳ ϱϯϲ͘ϳϳ ĞƉƌĞĐŝĂƟŽŶĂŶĚĂŵŽƌƟƐĂƟŽŶĞdžƉĞŶƐĞ ϭ͕Ϭϰϴ͘ϰϲ ϴϲϳ͘ϭϵ KƚŚĞƌĞdžƉĞŶƐĞƐ Ϯϴ ϱ͕ϰϴϲ͘ϲϴ ϰ͕ϮϴϮ͘ϲϳ Total Expenses 12,885.48 10,675.42 WƌŽĮƚďĞĨŽƌĞƚĂdž 2,228.50 2,843.01 dĂdžĞdžƉĞŶƐĞ͗ ;ϭͿƵƌƌĞŶƚƚĂdž ϰϴϴ͘ϴϬ ϱϰϮ͘ϴϴ ;ϮͿĞĨĞƌƌĞĚƚĂdž ϭϰϳ͘ϭϱ ϭϴϵ͘ϰϴ ϲϯϱ͘ϵϱ ϳϯϮ͘ϯϲ WƌŽĮƚĨŽƌƚŚĞLJĞĂƌ 1,592.55 2,110.65 ĂƌŶŝŶŐƐƉĞƌĞƋƵŝƚLJƐŚĂƌĞŽĨĨĂĐĞǀĂůƵĞŽĨ`ϭĞĂĐŚ ϯϮ ;ϭͿĂƐŝĐ;ŝŶ`Ϳ ϭϳ͘Ϭϰ ϮϮ͘ϱϴ ;ϮͿŝůƵƚĞĚ;ŝŶ`Ϳ ϭϳ͘Ϭϰ ϮϮ͘ϱϴ

^ŝŐŶŝĮĐĂŶƚĐĐŽƵŶƟŶŐWŽůŝĐŝĞƐ ϭΘϮ

dŚĞŶŽƚĞƐƌĞĨĞƌƌĞĚƚŽĂďŽǀĞĨŽƌŵĂŶŝŶƚĞŐƌĂůƉĂƌƚŽĨĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ  /ŶƚĞƌŵƐŽĨŽƵƌƌĞƉŽƌƚŽĨĞǀĞŶĚĂƚĞ &ŽƌΘŽŶďĞŚĂůĨŽĨƚŚĞŽĂƌĚ For S. S. Kothari Mehta & Co. Naveen Jindal Ravi Uppal ŚĂƌƚĞƌĞĚĐĐŽƵŶƚĂŶƚƐ ŚĂŝƌŵĂŶ DĂŶĂŐŝŶŐŝƌĞĐƚŽƌΘK &ŝƌŵZĞŐŝƐƚƌĂƟŽŶEŽ͘ϬϬϬϳϱϲE /E͗ϬϬϬϬϭϱϮϯ /E͗ϬϬϬϮϱϵϳϬ

K. K. Tulshan Anand Goel Sushil K Maroo WĂƌƚŶĞƌ :ŽŝŶƚDĂŶĂŐŝŶŐŝƌĞĐƚŽƌ ĞƉƵƚLJDĂŶĂŐŝŶŐŝƌĞĐƚŽƌ DĞŵďĞƌƐŚŝƉEŽ͘ϴϱϬϯϯ /E͗ϬϬϬϬϭϲϯϱ /E͗ϬϬϬϱϰϭϬϭ WůĂĐĞ͗EĞǁĞůŚŝ K. Rajagopal T. K. Sadhu ĂƚĞĚ͗ϮϱƚŚƉƌŝů͕ϮϬϭϯ 'ƌŽƵƉ&KΘŝƌĞĐƚŽƌ ŽŵƉĂŶLJ^ĞĐƌĞƚĂƌLJ

141 Annual Report 2012-13 Cash Flow Statement for the year ended 31st March, 2013

;`ŝŶƌŽƌĞͿ Year ended Year ended WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 A. ^,/E&>KtͬΈKhd&>KtΉ&ZKDKWZd/E'd/s/d/^ 2,228.50 2,843.01 NET PROFIT BEFORE TAX AND EXTRAORDINARY ITEMS ĚũƵƐƚŵĞŶƚĨŽƌ͗ ĞƉƌĞĐŝĂƟŽŶ ϭ͕Ϭϰϴ͘ϰϲ ϴϲϳ͘ϭϵ >ŽƐƐŽŶƐĂůĞŽĨĚǀĂŶĐĞƐͬ/ŶǀĞƐƚŵĞŶƚŝŶ^ƵďƐŝĚŝĂƌŝĞƐ Ϯϯϯ͘Ϭϯ ϭϲϳ͘ϮϬ >ŽƐƐŽŶ^ĂůĞŽĨ/ŶǀĞƐƚŵĞŶƚƐ Ͳ Ϭ͘Ϭϰ >ŽƐƐͬ;WƌŽĮƚͿŽŶ^ĂůĞŽĨ&ŝdžĞĚƐƐĞƚƐ ;ϰ͘ϬϯͿ ;ϱ͘ϳϯͿ WƌŽĮƚŽŶ^ĂůĞŽĨ/ŶǀĞƐƚŵĞŶƚƐ ;Ϯ͘ϰϳͿ ;Ϭ͘ϰϰͿ ŝǀŝĚĞŶĚ/ŶĐŽŵĞ ;ϭϯϬ͘ϬϲͿ ;ϭϯϬ͘ϬϲͿ >ŝĂďŝůŝƚLJͬWƌŽǀŝƐŝŽŶƐŶŽůŽŶŐĞƌƌĞƋƵŝƌĞĚǁƌŝƩĞŶďĂĐŬ ;ϭ͘ϭϯͿ ;ϳ͘ϴϵͿ WƌŽǀŝƐŝŽŶĨŽƌĚŝŵƵŶŝƟŽŶŝŶ/ŶǀĞƐƚŵĞŶƚƐǁƌŝƩĞŶŽī ϯϰϭ͘Ϭϵ ;ϭϭ͘ϱϰͿ ĂĚĞďƚƐͬWƌŽǀŝƐŝŽŶĨŽƌŽƵďƞƵůĚĞďƚƐ Ͳ Ϭ͘ϭϬ ŵƉůŽLJĞĞƐŽŵƉĞŶƐĂƟŽŶdžƉĞŶƐĞƐƵŶĚĞƌŵƉůŽLJĞĞƐ^ƚŽĐŬKƉƟŽŶ^ĐŚĞŵĞ Ͳ ;Ϭ͘ϴϯͿ /ŶƚĞƌĞƐƚdžƉĞŶƐĞ ϴϮϬ͘ϳϳ ϱϯϲ͘ϳϳ KƉĞƌĂƟŶŐWƌŽĮƚďĞĨŽƌĞtŽƌŬŝŶŐĂƉŝƚĂůŚĂŶŐĞƐ 4,534.16 4,257.82 ĚũƵƐƚŵĞŶƚĨŽƌ͗ /ŶǀĞŶƚŽƌŝĞƐ ;ϱϰϳ͘ϮϭͿ ;ϴϰϳ͘ϭϵͿ dƌĂĚĞZĞĐĞŝǀĂďůĞƐ ;ϱϮϭ͘ϬϳͿ ;ϭϲϳ͘ϵϰͿ KƚŚĞƌƵƌƌĞŶƚƐƐĞƚƐ ;ϵϬϯ͘ϬϭͿ ;ϯϵϯ͘ϱϰͿ /ŶĐŽŵĞdĂdžƉĂŝĚ ;ϱϬϰ͘ϯϲͿ ;ϱϲϬ͘ϲϭͿ KƚŚĞƌƵƌƌĞŶƚ>ŝĂďŝůŝƟĞƐ ;ϭ͕Ϭϯϳ͘ϬϯͿ ϲϭϱ͘ϱϮ EĞƚĂƐŚ/ŶŇŽǁͬ;KƵƞůŽǁͿĨƌŽŵKƉĞƌĂƟŶŐĐƟǀŝƟĞƐ 1,021.48 2,904.06 B. ^,/E&>KtͬΈKhd&>KtΉ&ZKD/Es^dDEdd/s/d/^ ĂƉŝƚĂůdžƉĞŶĚŝƚƵƌĞ ;ϯ͕ϵϲϮ͘ϵϭͿ ;ϱ͕ϭϮϮ͘ϴϮͿ ^ĂůĞWƌŽĐĞĞĚƐŽĨ&ŝdžĞĚƐƐĞƚƐ Ϯϴ͘ϮϬ ϱϱ͘ϰϰ ŝǀŝĚĞŶĚƌĞĐĞŝǀĞĚ Ͳ Ϯϰϳ͘ϭϭ >ŽĂŶƐΘĚǀĂŶĐĞƐ ;ϵϵ͘ϱϵͿ ϮϬϴ͘ϵϱ /ŶƚĞƌĞƐƚZĞĐĞŝǀĞĚ ϱϳ͘ϯϰ ϱϮ͘ϳϯ ;/ŶĐƌĞĂƐĞͿͬĞĐƌĞĂƐĞŝŶ/ŶǀĞƐƚŵĞŶƚƐ ;ϰϵϬ͘ϭϵͿ ;ϯϬϲ͘ϬϰͿ ^ŚĂƌĞĂƉƉůŝĐĂƟŽŶŵŽŶĞLJŐŝǀĞŶ ϭϬϬ͘ϲϮ ;ϭϮϴ͘ϮϭͿ EĞƚĂƐŚ/ŶŇŽǁͬ;KƵƞůŽǁͿĨƌŽŵ/ŶǀĞƐƟŶŐĐƟǀŝƟĞƐ (4,366.53) (4,992.84)

142 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Cash Flow Statement for the year ended 31st March, 2013

;`ŝŶƌŽƌĞͿ Year ended Year ended WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 C. ^,/E&>KtͬΈKhd&>KtΉ&ZKD&/EE/E'd/s/d/^ ^ƚĂƚĞ^ĂůĞƐdĂdž^ƵďƐŝĚLJ ϯϬ͘ϲϯ ϯϴ͘ϵϮ /ƐƐƵĞŽĨƋƵŝƚLJ^ŚĂƌĞƐ Ͳ ϯ͘ϴϰ tŽƌŬŝŶŐĂƉŝƚĂůŽƌƌŽǁŝŶŐƐĨƌŽŵĂŶŬƐ ϭ͕ϳϲϭ͘ϰϵ ϭ͕ϳϵϲ͘ϱϱ WƌŽĐĞĞĚƐĨƌŽŵKƚŚĞƌŽƌƌŽǁŝŶŐƐ ϵ͕ϮϬϱ͘Ϯϭ ϰ͕ϵϳϵ͘ϵϳ ZĞƉĂLJŵĞŶƚͬĚũƵƐƚŵĞŶƚŽĨďŽƌƌŽǁŝŶŐƐ ;ϱ͕ϵϮϭ͘ϯϵͿ ;ϯ͕ϱϬϱ͘ϯϳͿ ŝǀŝĚĞŶĚWĂŝĚ;ŝŶĐůƵĚŝŶŐƚĂdžƚŚĞƌĞŽŶͿ ;ϭϲϭ͘ϳϯͿ ;ϭϰϭ͘ϳϰͿ /ŶƚĞƌĞƐƚĂŶĚĮŶĂŶĐŝĂůĞdžƉĞŶƐĞƐ ;ϭ͕ϱϱϵ͘ϬϯͿ ;ϭ͕Ϭϵϵ͘ϱϱͿ EĞƚĂƐŚ/ŶŇŽǁͬ;KƵƞůŽǁͿĨƌŽŵ&ŝŶĂŶĐŝŶŐĐƟǀŝƟĞƐ 3,355.18 2,072.62 NET CHANGES IN CASH & CASH EQUIVALENTS (A+B+C) 10.13 (16.15) Cash & Cash equivalents (Opening Balance) 13.38 29.53 Cash & Cash equivalents (Closing Balance) 23.51 13.38

/ŶƚĞƌŵƐŽĨŽƵƌƌĞƉŽƌƚŽĨĞǀĞŶĚĂƚĞ &ŽƌΘŽŶďĞŚĂůĨŽĨƚŚĞŽĂƌĚ For S. S. Kothari Mehta & Co. Naveen Jindal Ravi Uppal ŚĂƌƚĞƌĞĚĐĐŽƵŶƚĂŶƚƐ ŚĂŝƌŵĂŶ DĂŶĂŐŝŶŐŝƌĞĐƚŽƌΘK &ŝƌŵZĞŐŝƐƚƌĂƟŽŶEŽ͘ϬϬϬϳϱϲE /E͗ϬϬϬϬϭϱϮϯ /E͗ϬϬϬϮϱϵϳϬ

K. K. Tulshan Anand Goel Sushil K Maroo WĂƌƚŶĞƌ :ŽŝŶƚDĂŶĂŐŝŶŐŝƌĞĐƚŽƌ ĞƉƵƚLJDĂŶĂŐŝŶŐŝƌĞĐƚŽƌ DĞŵďĞƌƐŚŝƉEŽ͘ϴϱϬϯϯ /E͗ϬϬϬϬϭϲϯϱ /E͗ϬϬϬϱϰϭϬϭ WůĂĐĞ͗EĞǁĞůŚŝ K. Rajagopal T. K. Sadhu ĂƚĞĚ͗ϮϱƚŚƉƌŝů͕ϮϬϭϯ 'ƌŽƵƉ&KΘŝƌĞĐƚŽƌ ŽŵƉĂŶLJ^ĞĐƌĞƚĂƌLJ

143 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

1. OVERVIEW ĂƩƌŝďƵƚĂďůĞĐŽƐƚƐŽĨďƌŝŶŐŝŶŐƚŚĞĂƐƐĞƚƚŽŝƚƐ  :ŝŶĚĂů ^ƚĞĞů Θ WŽǁĞƌ >ŝŵŝƚĞĚ ǁŚŝĐŚ ĐŽŵŵĞŶĐĞĚ ǁŽƌŬŝŶŐĐŽŶĚŝƟŽŶĨŽƌŝƚƐŝŶƚĞŶĚĞĚƵƐĞĂŶĚĂƌĞ ŽƉĞƌĂƟŽŶƐŝŶƚŚĞLJĞĂƌϭϵϵϭŝƐŽŶĞŽĨƚŚĞ/ŶĚŝĂ͛ƐůĞĂĚŝŶŐ ŶĞƚŽĨĂǀĂŝůĂďůĞĚƵƚLJͬƚĂdžĐƌĞĚŝƚƐ͘ ƐƚĞĞů ƉƌŽĚƵĐĞƌƐ ǁŝƚŚ ƐŝŐŶŝĮĐĂŶƚ ƉƌĞƐĞŶĐĞ ŝŶ ƐĞĐƚŽƌ ůŝŬĞ b) Intangible Assets ŵŝŶŝŶŐ͕ƉŽǁĞƌŐĞŶĞƌĂƟŽŶĂŶĚŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͘/ƚŝƐůŝƐƚĞĚŽŶ  /ŶƚĂŶŐŝďůĞĂƐƐĞƚƐĂƌĞƌĞĐŽŐŶŝƐĞĚŝŶĂĐĐŽƌĚĂŶĐĞ ƚŚĞ EĂƟŽŶĂů ^ƚŽĐŬ džĐŚĂŶŐĞ ŽĨ /ŶĚŝĂ ĂŶĚ ŽŵďĂLJ ^ƚŽĐŬ ǁŝƚŚ ƚŚĞ ĐƌŝƚĞƌŝĂ ůĂŝĚ ĚŽǁŶ ŝŶ ĐĐŽƵŶƟŶŐ džĐŚĂŶŐĞŝŶ/ŶĚŝĂ͘/ƚƐďƵƐŝŶĞƐƐŝƐƐƉƌĞĂĚĂĐƌŽƐƐ/ŶĚŝĂĂŶĚ ^ƚĂŶĚĂƌĚ;^ͲϮϲͿ͕ǁŚĞƌĞĂƐƚŚĞLJĂƌĞƐĞƉĂƌĂƚĞůLJ ŽǀĞƌƐĞĂƐ͘ dŚĞ ĐŽƌƉŽƌĂƚĞ ŽĸĐĞ ŝƐ ƐŝƚƵĂƚĞĚ ŝŶ EĞǁ ĞůŚŝ ŝĚĞŶƟĮĂďůĞ͕ ŵĞĂƐƵƌĂďůĞ ĂŶĚ ƚŚĞ ŽŵƉĂŶLJ ĂŶĚƚŚĞŵĂŶƵĨĂĐƚƵƌŝŶŐƉůĂŶƚƐŝŶ/ŶĚŝĂĂƌĞŝŶƚŚĞƐƚĂƚĞƐŽĨ ĐŽŶƚƌŽůƐ ƚŚĞ ĨƵƚƵƌĞ ďĞŶĞĮƚƐ ĂƌŝƐŝŶŐ ŽƵƚ ŽĨ ŚŚĂƫƐŐĂƌŚ͕ KĚŝƐŚĂ͕ :ŚĂƌŬŚĂŶĚ ĞƚĐ͘ dŚĞ ŽŵƉĂŶLJ ŚĂƐ ƚŚĞŵ͘/ŶƚĂŶŐŝďůĞĂƐƐĞƚƐĂƌĞƐƚĂƚĞĚĂƚĐŽƐƚůĞƐƐ ŐůŽďĂů ƉƌĞƐĞŶĐĞ ŝŶ ƵƐƚƌĂůŝĂ͕ ŽƚƐǁĂŶĂ͕ ŚŝŶĂ͕ >ŝďĞƌŝĂ͕ ĂŵŽƌƟƐĂƟŽŶĂŶĚŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ͕ŝĨĂŶLJ͘ DĂƵƌŝƚĂŶŝĂ͕ DŽnjĂŵďŝƋƵĞ͕ DĂĚĂŐĂƐĐĂƌ͕ /ŶĚŽŶĞƐŝĂ͕ ^ŽƵƚŚ ĨƌŝĐĂ͕^ƵůƚĂŶĂƚĞŽĨKŵĂŶ͕dĂŶnjĂŶŝĂĂŶĚĂŵďŝĂ͘dŚĞƌĞĂƌĞ c) Capital WŽƌŬͲŝŶͲProgress ƐĞǀĞƌĂůďƵƐŝŶĞƐƐŝŶŝƟĂƟǀĞƐƌƵŶŶŝŶŐƐŝŵƵůƚĂŶĞŽƵƐůLJĂĐƌŽƐƐ  džƉĞŶĚŝƚƵƌĞ ƌĞůĂƚĞĚ ƚŽ ĂŶĚ ŝŶĐƵƌƌĞĚ ĚƵƌŝŶŐ ĐŽŶƟŶĞŶƚƐ͘ ŝŵƉůĞŵĞŶƚĂƟŽŶ ŽĨ ŶĞǁͬĞdžƉĂŶƐŝŽŶͲĐƵŵͲ ŵŽĚĞƌŶŝƐĂƟŽŶ ƉƌŽũĞĐƚƐ ŝƐ ŝŶĐůƵĚĞĚ ƵŶĚĞƌ 2. SIGNIFICANT ACCOUNTING POLICIES ĐĂƉŝƚĂů ǁŽƌŬͲŝŶͲƉƌŽŐƌĞƐƐ ĂŶĚ ƚŚĞ ƐĂŵĞ ŝƐ ŝͿ ĂƐŝƐŽĨWƌĞƉĂƌĂƟŽŶŽĨ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ ĂůůŽĐĂƚĞĚƚŽƚŚĞƌĞƐƉĞĐƟǀĞƚĂŶŐŝďůĞĂƐƐĞƚŽŶ ĐŽŵƉůĞƟŽŶŽĨŝƚƐĐŽŶƐƚƌƵĐƟŽŶͬĞƌĞĐƟŽŶ͘  dŚĞ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ ĂƌĞ ƉƌĞƉĂƌĞĚ ƵŶĚĞƌ ƚŚĞ ŚŝƐƚŽƌŝĐĂů ĐŽƐƚ ĐŽŶǀĞŶƟŽŶ͕ ŽŶ ŐŽŝŶŐ ĐŽŶĐĞƌŶ ďĂƐŝƐ d) Intangible Assets under Development ĂŶĚŝŶƚĞƌŵƐŽĨƚŚĞĐĐŽƵŶƟŶŐ^ƚĂŶĚĂƌĚƐŶŽƟĮĞĚ  DŝŶĞƐ ĚĞǀĞůŽƉŵĞŶƚ ĞdžƉĞŶĚŝƚƵƌĞ ŝŶĐƵƌƌĞĚ ďLJ ŽŵƉĂŶŝĞƐ ;ĐĐŽƵŶƟŶŐ ^ƚĂŶĚĂƌĚƐͿ ZƵůĞƐ͕ ŝŶƌĞƐƉĞĐƚŽĨŶĞǁŝƌŽŶŽƌĞͬĐŽĂůĂŶĚůŝŬĞǁŝƐĞ ϮϬϬϲ ŝŶ ĐŽŵƉůŝĂŶĐĞ ǁŝƚŚ ^ĞĐƟŽŶ Ϯϭϭ;ϯͿ ŽĨ ƚŚĞ ŵŝŶĞƐ ŝƐ ƐŚŽǁŶ ƵŶĚĞƌ ͚/ŶƚĂŶŐŝďůĞ ĂƐƐĞƚƐ ŽŵƉĂŶŝĞƐ Đƚ͕ ϭϵϱϲ͘ dŚĞ ŽŵƉĂŶLJ ĨŽůůŽǁƐ ƚŚĞ ƵŶĚĞƌ ĚĞǀĞůŽƉŵĞŶƚ͛ ĂŶĚ ĂŵŽƌƟƐĞĚ ŽǀĞƌ Ă ŵĞƌĐĂŶƟůĞ ƐLJƐƚĞŵ ŽĨ ĂĐĐŽƵŶƟŶŐ ĂŶĚ ƌĞĐŽŐŶŝƐĞƐ ƉĞƌŝŽĚŽĨƚĞŶLJĞĂƌƐƐƚĂƌƟŶŐĨƌŽŵƚŚĞLJĞĂƌŽĨ ŝŶĐŽŵĞ ĂŶĚ ĞdžƉĞŶĚŝƚƵƌĞ ŽŶ ĂĐĐƌƵĂů ďĂƐŝƐ ƚŽ ƚŚĞ ĐŽŵŵĞŶĐĞŵĞŶƚŽĨĐŽŵŵĞƌĐŝĂůƉƌŽĚƵĐƟŽŶŽƌ ĞdžƚĞŶƚŵĞĂƐƵƌĂďůĞĂŶĚǁŚĞƌĞƚŚĞƌĞŝƐĐĞƌƚĂŝŶƚLJŽĨ ƚŚĞĨƵƚƵƌĞĞdžƉĞĐƚĞĚĞdžƚƌĂĐƟŽŶƉĞƌŝŽĚŽĨƚŚĞ ƵůƟŵĂƚĞƌĞĂůŝƐĂƟŽŶŽĨŝŶĐŽŵĞƐ͘ĐĐŽƵŶƟŶŐƉŽůŝĐŝĞƐ ƌĞƐĞƌǀĞƐďĂƐĞĚŽŶĂĐƚƵĂůĞdžƚƌĂĐƟŽŶƟůůĚĂƚĞ͕ ŶŽƚƐƉĞĐŝĮĐĂůůLJƌĞĨĞƌƌĞĚƚŽŽƚŚĞƌǁŝƐĞĂƌĞĐŽŶƐŝƐƚĞŶƚ ǁŚŝĐŚĞǀĞƌŝƐƐŚŽƌƚĞƌ͘ ĂŶĚ ŝŶ ĐŽŶƐŽŶĂŶĐĞ ǁŝƚŚ ƚŚĞ ŐĞŶĞƌĂůůLJ ĂĐĐĞƉƚĞĚ ĞͿ ĞƉƌĞĐŝĂƟŽŶĂŶĚŵŽƌƟƐĂƟŽŶ ĂĐĐŽƵŶƟŶŐƉƌŝŶĐŝƉůĞƐŝŶ/ŶĚŝĂ͘  ĞƉƌĞĐŝĂƟŽŶ ŽŶ ƚĂŶŐŝďůĞ ĂƐƐĞƚƐ ŝƐ ƉƌŽǀŝĚĞĚ ii) Use of EƐƟŵĂƚĞƐ ŽŶ ƐƚƌĂŝŐŚƚͲůŝŶĞ ŵĞƚŚŽĚ ;^>DͿ Ăƚ ƚŚĞ ƌĂƚĞƐ  dŚĞ ƉƌĞƉĂƌĂƟŽŶ ŽĨ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ ŝŶ ĂŶĚ ŝŶ ƚŚĞ ŵĂŶŶĞƌ ƐƉĞĐŝĮĞĚ ŝŶ ^ĐŚĞĚƵůĞ ĐŽŶĨŽƌŵŝƚLJ ǁŝƚŚ ŐĞŶĞƌĂůůLJ ĂĐĐĞƉƚĞĚ ĂĐĐŽƵŶƟŶŐ y/s ƚŽ ƚŚĞ ŽŵƉĂŶŝĞƐ Đƚ͕ ϭϵϱϲ͘ >ĞĂƐĞŚŽůĚ ƉƌŝŶĐŝƉůĞƐƌĞƋƵŝƌĞƐŵĂŶĂŐĞŵĞŶƚƚŽŵĂŬĞĞƐƟŵĂƚĞƐ ůĂŶĚ ŝƐ ĂŵŽƌƟƐĞĚ ŽǀĞƌ ƚŚĞ ƉĞƌŝŽĚ ŽĨ ůĞĂƐĞ͘ ĂŶĚ ĂƐƐƵŵƉƟŽŶƐ ƚŚĂƚ ĂīĞĐƚ ƚŚĞ ƌĞƉŽƌƚĞĚ ĂŵŽƵŶƚ /ŶƚŚĞĐĂƐĞŽĨĂƐƐĞƚƐǁŚĞƌĞŝŵƉĂŝƌŵĞŶƚůŽƐƐ ŽĨĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐĂŶĚĚŝƐĐůŽƐƵƌĞŽĨĐŽŶƟŶŐĞŶƚ ŝƐ ƌĞĐŽŐŶŝƐĞĚ͕ ƚŚĞ ƌĞǀŝƐĞĚ ĐĂƌƌLJŝŶŐ ĂŵŽƵŶƚ ůŝĂďŝůŝƟĞƐ ĂŶĚ ĐŽŵŵŝƚŵĞŶƚƐ Ăƚ ƚŚĞ ĞŶĚ ŽĨ ƚŚĞ ŝƐĚĞƉƌĞĐŝĂƚĞĚŽǀĞƌƚŚĞƌĞŵĂŝŶŝŶŐĞƐƟŵĂƚĞĚ ƌĞƉŽƌƟŶŐ ƉĞƌŝŽĚ ĂŶĚ ƌĞƐƵůƚƐ ŽĨ ŽƉĞƌĂƟŽŶƐ ĚƵƌŝŶŐ ƵƐĞĨƵůůŝĨĞŽĨƚŚĞĂƐƐĞƚ͘ ƚŚĞƌĞƉŽƌƟŶŐƉĞƌŝŽĚ͘ůƚŚŽƵŐŚƚŚĞƐĞĞƐƟŵĂƚĞƐĂƌĞ  ĞƌƚĂŝŶ ƉůĂŶƚ ĂŶĚ ŵĂĐŚŝŶĞƌLJ ŚĂǀĞ ďĞĞŶ ďĂƐĞĚ ƵƉŽŶ ƚŚĞ ŵĂŶĂŐĞŵĞŶƚ͛Ɛ ďĞƐƚ ŬŶŽǁůĞĚŐĞ ĐŽŶƐŝĚĞƌĞĚ ĂƐ ĐŽŶƟŶƵŽƵƐ ƉƌŽĐĞƐƐ ƉůĂŶƚ ŽĨĐƵƌƌĞŶƚĞǀĞŶƚƐĂŶĚĂĐƟŽŶƐ͕ĂĐƚƵĂůƌĞƐƵůƚƐĐŽƵůĚ ŽŶ ƚŚĞ ďĂƐŝƐ ŽĨ ƚĞĐŚŶŝĐĂů ĂƐƐĞƐƐŵĞŶƚ ĂŶĚ ĚŝīĞƌĨƌŽŵƚŚĞƐĞĞƐƟŵĂƚĞƐ͘ŝīĞƌĞŶĐĞďĞƚǁĞĞŶƚŚĞ ĚĞƉƌĞĐŝĂƟŽŶ ŽŶ ƚŚĞ ƐĂŵĞ ŝƐ ƉƌŽǀŝĚĞĚ ĨŽƌ ĂĐƚƵĂů ƌĞƐƵůƚ ĂŶĚ ĞƐƟŵĂƚĞƐ ĂƌĞ ƌĞĐŽŐŶŝƐĞĚ ŝŶ ƚŚĞ ĂĐĐŽƌĚŝŶŐůLJ͘ ƉĞƌŝŽĚŝŶǁŚŝĐŚƚŚĞƌĞƐƵůƚƐĂƌĞŬŶŽǁŶͬŵĂƚĞƌŝĂůŝƐĞĚ͘ ŝŝŝͿ &ŝdžĞĚƐƐĞƚƐͲĞƉƌĞĐŝĂƟŽŶĂŶĚŵŽƌƟƐĂƟŽŶ  /ŶƚĂŶŐŝďůĞ ƐƐĞƚƐ ĂƌĞ ĂŵŽƌƟƐĞĚ ŽŶ ƐƚƌĂŝŐŚƚͲ ůŝŶĞ ŵĞƚŚŽĚ ŽǀĞƌ ƚŚĞ ĞdžƉĞĐƚĞĚ ĚƵƌĂƟŽŶ ŽĨ a) Tangible Assets ďĞŶĞĮƚƐŶŽƚĞdžĐĞĞĚŝŶŐƚĞŶLJĞĂƌƐ͘  dĂŶŐŝďůĞ ƐƐĞƚƐ ĂƌĞ ƐƚĂƚĞĚ Ăƚ ĐŽƐƚ ůĞƐƐ ĂĐĐƵŵƵůĂƚĞĚ ĚĞƉƌĞĐŝĂƟŽŶ ĂŶĚ ŝŵƉĂŝƌŵĞŶƚ iv) Impairment of Assets ůŽƐƐĞƐ͕ ŝĨ ĂŶLJ͘ ŽƐƚƐ ŝŶĐůƵĚĞ ĐŽƐƚƐ ŽĨ  dŚĞ ĐĂƌƌLJŝŶŐ ĂŵŽƵŶƚ ŽĨ ĂƐƐĞƚƐ ŝƐ ƌĞǀŝĞǁĞĚ ĨŽƌ ĂĐƋƵŝƐŝƟŽŶƐ Žƌ ĐŽŶƐƚƌƵĐƟŽŶƐ͕ ŝŶĐůƵĚŝŶŐ ŝŵƉĂŝƌŵĞŶƚ Ăƚ ĞĂĐŚ ďĂůĂŶĐĞ ƐŚĞĞƚ ĚĂƚĞ ǁŚĞƌĞǀĞƌ ŝŶĐŝĚĞŶƚĂů ĞdžƉĞŶƐĞƐ ƚŚĞƌĞƚŽ ĂŶĚ ŽƚŚĞƌ ĞǀĞŶƚƐ Žƌ ĐŚĂŶŐĞƐ ŝŶ ĐŝƌĐƵŵƐƚĂŶĐĞƐ ŝŶĚŝĐĂƚĞ ƚŚĂƚ

144 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

ƚŚĞ ĐĂƌƌLJŝŶŐ ĂŵŽƵŶƚ ŵĂLJ ŶŽƚ ďĞ ƌĞĐŽǀĞƌĂďůĞ͘ Ŷ b) Inter-Segment Transfers ŝŵƉĂŝƌŵĞŶƚ ůŽƐƐ ŝƐ ƌĞĐŽŐŶŝƐĞĚ ĨŽƌ ƚŚĞ ĂŵŽƵŶƚ ĨŽƌ  dŚĞ ŽŵƉĂŶLJ ĂĐĐŽƵŶƚƐ ĨŽƌ ŝŶƚĞƌͲƐĞŐŵĞŶƚ ǁŚŝĐŚ ƚŚĞ ĂƐƐĞƚ͛Ɛ ĐĂƌƌLJŝŶŐ ĂŵŽƵŶƚ ĞdžĐĞĞĚƐ ŝƚƐ ƐĂůĞƐĂŶĚƚƌĂŶƐĨĞƌƐĂƐŝĨƚŚĞƐĂůĞƐŽƌƚƌĂŶƐĨĞƌƐ ƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚďĞŝŶŐƚŚĞŚŝŐŚĞƌŽĨƚŚĞĂƐƐĞƚƐ ǁĞƌĞƚŽƚŚŝƌĚƉĂƌƟĞƐĂƚĐƵƌƌĞŶƚŵĂƌŬĞƚƉƌŝĐĞƐ͘ ŶĞƚƐĞůůŝŶŐƉƌŝĐĞĂŶĚŝƚƐǀĂůƵĞŝŶƵƐĞ͘sĂůƵĞŝŶƵƐĞŝƐ ,ŽǁĞǀĞƌ͕ŝŶƚĞƌƐĞŐŵĞŶƚƚƌĂŶƐĨĞƌƐĨŽƌĐĂƉƟǀĞͬ ďĂƐĞĚŽŶƚŚĞƉƌĞƐĞŶƚǀĂůƵĞŽĨƚŚĞĞƐƟŵĂƚĞĚĨƵƚƵƌĞ ĐĂƉŝƚĂů ĐŽŶƐƵŵƉƟŽŶ ŝƐ ĂƐ ƉĞƌ ^Ͳϰ ;ŽƐƚ ĐĂƐŚ ŇŽǁƐ ƌĞůĂƟŶŐ ƚŽ ƚŚĞ ĂƐƐĞƚ͘ &Žƌ ƚŚĞ ƉƵƌƉŽƐĞ ĐĐŽƵŶƟŶŐ^ƚĂŶĚĂƌĚͲϰͿ͘ ŽĨ ĂƐƐĞƐƐŝŶŐ ŝŵƉĂŝƌŵĞŶƚ͕ ĂƐƐĞƚƐ ĂƌĞ ŐƌŽƵƉĞĚ Ăƚ ĐͿ ůůŽĐĂƟŽŶŽĨCommon Costs ƚŚĞ ůŽǁĞƐƚ ůĞǀĞůƐ ĨŽƌ ǁŚŝĐŚ ƚŚĞƌĞ ĂƌĞ ƐĞƉĂƌĂƚĞůLJ ŝĚĞŶƟĮĂďůĞĐĂƐŚŇŽǁƐ;ŝ͘Ğ͘ĐĂƐŚŐĞŶĞƌĂƟŶŐƵŶŝƚƐͿ͘  ŽŵŵŽŶĂůůŽĐĂďůĞĐŽƐƚƐĂƌĞĂůůŽĐĂƚĞĚƚŽĞĂĐŚ ƐĞŐŵĞŶƚŽŶƌĞĂƐŽŶĂďůĞďĂƐŝƐ͘  WƌĞǀŝŽƵƐůLJ ƌĞĐŽŐŶŝƐĞĚ ŝŵƉĂŝƌŵĞŶƚ ůŽƐƐĞƐ ĂƌĞ d) Unallocated Items ƌĞǀĞƌƐĞĚ ǁŚĞƌĞ ƚŚĞ ƌĞĐŽǀĞƌĂďůĞ ĂŵŽƵŶƚ ŝŶĐƌĞĂƐĞƐ ďĞĐĂƵƐĞ ŽĨ ĨĂǀŽƌĂďůĞ ĐŚĂŶŐĞƐ ŝŶ ƚŚĞ ĞƐƟŵĂƚĞƐ  /ƚ ŝŶĐůƵĚĞƐ ŐĞŶĞƌĂů ĂĚŵŝŶŝƐƚƌĂƟǀĞ ĞdžƉĞŶƐĞƐ͕ ƵƐĞĚ ƚŽ ĚĞƚĞƌŵŝŶĞ ƚŚĞ ƌĞĐŽǀĞƌĂďůĞ ĂŵŽƵŶƚ ƐŝŶĐĞ ŽƌƉŽƌĂƚĞ ĂŶĚ ŽƚŚĞƌ ŽĸĐĞ ĞdžƉĞŶƐĞƐ ĂŶĚ ƚŚĞůĂƐƚŝŵƉĂŝƌŵĞŶƚǁĂƐƌĞĐŽŐŶŝƐĞĚ͘ƌĞǀĞƌƐĂůŽĨ ŝŶĐŽŵĞƚŚĂƚĂƌŝƐĞĂƚƚŚĞĞŶƚĞƌƉƌŝƐĞůĞǀĞůĂŶĚ ĂŶĂƐƐĞƚ͛ƐŝŵƉĂŝƌŵĞŶƚůŽƐƐŝƐůŝŵŝƚĞĚƚŽŝƚƐĐĂƌƌLJŝŶŐ ƌĞůĂƚĞƚŽĞŶƚĞƌƉƌŝƐĞĂƐĂǁŚŽůĞ͕ĂŶĚǁŚŝĐŚĂƌĞ ĂŵŽƵŶƚƚŚĂƚǁŽƵůĚŚĂǀĞďĞĞŶĚĞƚĞƌŵŝŶĞĚ;ŶĞƚŽĨ ŶŽƚĂůůŽĐĂďůĞƚŽĂŶLJďƵƐŝŶĞƐƐƐĞŐŵĞŶƚ͘ ĚĞƉƌĞĐŝĂƟŽŶ Žƌ ĂŵŽƌƟƐĂƟŽŶͿ ŚĂĚ ŶŽ ŝŵƉĂŝƌŵĞŶƚ e) Segment Policies ůŽƐƐďĞĞŶƌĞĐŽŐŶŝƐĞĚŝŶƉƌŝŽƌLJĞĂƌƐ͘  dŚĞ ŽŵƉĂŶLJ ƉƌĞƉĂƌĞƐ ŝƚƐ ƐĞŐŵĞŶƚ ǀͿ ĐĐŽƵŶƟŶŐĨŽƌ>ĞĂƐĞƐ ŝŶĨŽƌŵĂƟŽŶŝŶĐŽŶĨŽƌŵŝƚLJǁŝƚŚƚŚĞĂĐĐŽƵŶƟŶŐ ƉŽůŝĐŝĞƐĂĚŽƉƚĞĚĨŽƌƉƌĞƉĂƌŝŶŐĂŶĚƉƌĞƐĞŶƟŶŐ a) &ŝŶĂŶĐĞ ůĞĂƐĞ ŝƐ ƌĞĐŽŐŶŝƐĞĚ ĂƐ ĂŶ ĂƐƐĞƚ ĂŶĚ ƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞŽŵƉĂŶLJĂƐĂ Ă ůŝĂďŝůŝƚLJ ƚŽ ƚŚĞ ůĞƐƐŽƌ Ăƚ ĨĂŝƌ ǀĂůƵĞ Ăƚ ƚŚĞ ǁŚŽůĞ͘ ŝŶĐĞƉƟŽŶŽĨƚŚĞůĞĂƐĞ͘ ǀŝŝŝͿ sĂůƵĂƟŽŶŽĨ/ŶǀĞŶƚŽƌŝĞƐ b) dŚĞ ůĞĂƐĞ ƉĂLJŵĞŶƚƐ ƵŶĚĞƌ ŽƉĞƌĂƟŶŐ ůĞĂƐĞ  ZĂǁ ŵĂƚĞƌŝĂůƐ ĂŶĚ ƐƚŽƌĞƐ Θ ƐƉĂƌĞƐ ĂƌĞ ǀĂůƵĞĚ Ăƚ ĂƐ ƉĞƌ ƌĞƐƉĞĐƟǀĞ ůĞĂƐĞ ĂŐƌĞĞŵĞŶƚƐ ĂƌĞ ůŽǁĞƌŽĨĐŽƐƚ͕ĐŽŵƉƵƚĞĚŽŶǁĞŝŐŚƚĞĚĂǀĞƌĂŐĞďĂƐŝƐ ƌĞĐŽŐŶŝƐĞĚ ĂƐ ĞdžƉĞŶƐĞ ŝŶ ƚŚĞ ƐƚĂƚĞŵĞŶƚ ŽĨ ŽƌŶĞƚƌĞĂůŝƐĂďůĞǀĂůƵĞ͘ŽƐƚŝŶĐůƵĚĞƐƚŚĞƉƵƌĐŚĂƐĞ ƉƌŽĮƚĂŶĚůŽƐƐďĂƐĞĚŽŶƚŚĞƟŵĞƉĂƩĞƌŶŽĨ ƉƌŝĐĞĂƐǁĞůůĂƐŝŶĐŝĚĞŶƚĂůĞdžƉĞŶƐĞƐ͘^ĐƌĂƉŝƐǀĂůƵĞĚ ƚŚĞƵƐĂŐĞďĞŶĞĮƚŽǀĞƌƚŚĞůĞĂƐĞƚĞƌŵ͘ Ăƚ ĞƐƟŵĂƚĞĚ ƌĞĂůŝƐĂďůĞ ǀĂůƵĞ͘ ,ŽǁĞǀĞƌ ŝŶ ĐĂƐĞ ŽĨ vi) Borrowing Cost ƌĂǁ ŵĂƚĞƌŝĂůƐ͕ ĐŽŵƉŽŶĞŶƚƐ͕ ƐƚŽƌĞƐ Θ ƐƉĂƌĞƐ ŚĞůĚ  ŽƌƌŽǁŝŶŐĐŽƐƚƌĞůĂƚĞĚƚŽĂƋƵĂůŝĨLJŝŶŐĂƐƐĞƚŝƐǁŽƌŬĞĚ ĨŽƌƵƐĞŝŶƚŚĞƉƌŽĚƵĐƟŽŶŽĨĮŶŝƐŚĞĚŐŽŽĚƐĂƌĞŶŽƚ ŽƵƚ ŽŶ ƚŚĞ ďĂƐŝƐ ŽĨ ĂĐƚƵĂů ƵƟůŝƐĂƟŽŶ ŽĨ ĨƵŶĚƐ ŽƵƚ ǁƌŝƩĞŶĚŽǁŶďĞůŽǁĐŽƐƚŝĨƚŚĞĮŶŝƐŚĞĚƉƌŽĚƵĐƚƐĂƌĞ ŽĨ ƉƌŽũĞĐƚ ƐƉĞĐŝĮĐ ůŽĂŶƐ ĂŶĚͬŽƌ ŽƚŚĞƌ ďŽƌƌŽǁŝŶŐƐ ĞdžƉĞĐƚĞĚƚŽďĞƐŽůĚĂƚŽƌĂďŽǀĞĐŽƐƚ͘ ƚŽƚŚĞĞdžƚĞŶƚŝĚĞŶƟĮĂďůĞǁŝƚŚƚŚĞƋƵĂůŝĨLJŝŶŐĂƐƐĞƚ  tŽƌŬͲŝŶͲƉƌŽĐĞƐƐŝƐǀĂůƵĞĚĂƚůŽǁĞƌŽĨĞƐƟŵĂƚĞĚĐŽƐƚ ĂŶĚŝƐĐĂƉŝƚĂůŝƐĞĚǁŝƚŚƚŚĞĐŽƐƚŽĨƋƵĂůŝĨLJŝŶŐĂƐƐĞƚ͘ ŽƌŶĞƚƌĞĂůŝƐĂďůĞǀĂůƵĞĂŶĚĮŶŝƐŚĞĚŐŽŽĚƐĂƌĞǀĂůƵĞĚ KƚŚĞƌ ďŽƌƌŽǁŝŶŐ ĐŽƐƚƐ ŝŶĐƵƌƌĞĚ ĚƵƌŝŶŐ ƚŚĞ ƉĞƌŝŽĚ ĂƚůŽǁĞƌŽĨǁĞŝŐŚƚĞĚĂǀĞƌĂŐĞĐŽƐƚŽƌŶĞƚƌĞĂůŝƐĂďůĞ ĂƌĞĐŚĂƌŐĞĚƚŽƐƚĂƚĞŵĞŶƚŽĨƉƌŽĮƚĂŶĚůŽƐƐ͘ ǀĂůƵĞ͘ŽƐƚĨŽƌƚŚŝƐƉƵƌƉŽƐĞŝŶĐůƵĚĞƐĚŝƌĞĐƚĐŽƐƚĂŶĚ ǀŝŝͿ ^ĞŐŵĞŶƚZĞƉŽƌƟŶŐ ĂƉƉƌŽƉƌŝĂƚĞĂĚŵŝŶŝƐƚƌĂƟǀĞĂŶĚŽƚŚĞƌŽǀĞƌŚĞĂĚƐ͘ ĂͿ /ĚĞŶƟĮĐĂƟŽŶŽĨSegments  EĞƚ ƌĞĂůŝƐĂďůĞ ǀĂůƵĞ ŝƐ ƚŚĞ ĞƐƟŵĂƚĞĚ ƐĞůůŝŶŐ ƉƌŝĐĞ Primary Segment ŝŶ ƚŚĞ ŽƌĚŝŶĂƌLJ ĐŽƵƌƐĞ ŽĨ ďƵƐŝŶĞƐƐ͕ ůĞƐƐ ĞƐƟŵĂƚĞĚ ĐŽƐƚƐŽĨĐŽŵƉůĞƟŽŶĂŶĚĞƐƟŵĂƚĞĚĐŽƐƚƐŶĞĐĞƐƐĂƌLJ  dŚĞ ŽŵƉĂŶLJ͛Ɛ ŽƉĞƌĂƟŶŐ ďƵƐŝŶĞƐƐĞƐ ĂƌĞ ƚŽŵĂŬĞƚŚĞƐĂůĞ͘ ŽƌŐĂŶŝƐĞĚĂŶĚŵĂŶĂŐĞĚƐĞƉĂƌĂƚĞůLJĂĐĐŽƌĚŝŶŐ ƚŽ ƚŚĞ ŶĂƚƵƌĞ ŽĨ ƉƌŽĚƵĐƚƐ ŵĂŶƵĨĂĐƚƵƌĞĚ ix) Inter-Division Transfers ĂŶĚ ƐĞƌǀŝĐĞƐ ƉƌŽǀŝĚĞĚ͕ ǁŝƚŚ ĞĂĐŚ ƐĞŐŵĞŶƚ  /ŶƚĞƌͲĚŝǀŝƐŝŽŶ ƚƌĂŶƐĨĞƌ ŽĨ ŐŽŽĚƐ͕ ĂƐ ŝŶĚĞƉĞŶĚĞŶƚ ƌĞƉƌĞƐĞŶƟŶŐ Ă ƐƚƌĂƚĞŐŝĐ ďƵƐŝŶĞƐƐ ƵŶŝƚ ƚŚĂƚ ŵĂƌŬĞƚĂďůĞƉƌŽĚƵĐƚƐƉƌŽĚƵĐĞĚďLJǀĂƌŝŽƵƐĚŝǀŝƐŝŽŶƐ ŽīĞƌƐĚŝīĞƌĞŶƚƉƌŽĚƵĐƚƐ͘ ĨŽƌ ĐĂƉƟǀĞ ĐŽŶƐƵŵƉƟŽŶ͕ ŝƐ ĂĐĐŽƵŶƚĞĚ ĨŽƌ Ăƚ ĂƉƉƌŽdžŝŵĂƚĞ ƉƌĞǀĂŝůŝŶŐ ŵĂƌŬĞƚ ƉƌŝĐĞ͘ dŚĞ ƐĂŵĞ ŝƐ Secondary Segment ƐŚŽǁŶĂƐĂĐŽŶƚƌĂŝƚĞŵŝŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨƉƌŽĮƚĂŶĚ  dŚĞ ŐĞŽŐƌĂƉŚŝĐĂů ƐĞŐŵĞŶƚƐ ŚĂǀĞ ďĞĞŶ ůŽƐƐ͘ ŶLJ ƵŶƌĞĂůŝƐĞĚ ƉƌŽĮƚ ŽŶ ƵŶƐŽůĚͬƵŶĐŽŶƐƵŵĞĚ ŝĚĞŶƟĮĞĚ ďĂƐĞĚ ŽŶ ƚŚĞ ůŽĐĂƟŽŶƐ ŽĨ ƚŚĞ ƐƚŽĐŬƐ ŝƐ ĞůŝŵŝŶĂƚĞĚ ǁŚŝůĞ ǀĂůƵŝŶŐ ƚŚĞ ŝŶǀĞŶƚŽƌŝĞƐ͘ ĐƵƐƚŽŵĞƌƐ͗ǁŝƚŚŝŶ/ŶĚŝĂĂŶĚŽƵƚƐŝĚĞ/ŶĚŝĂ͘ dŚĞǀĂůƵĞŽĨƐƵĐŚŝŶƚĞƌͲĚŝǀŝƐŝŽŶĂůƚƌĂŶƐĨĞƌŝƐŶĞƩĞĚ

145 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

ŽīĨƌŽŵƐĂůĞƐĂŶĚŽƉĞƌĂƟŽŶĂůŝŶĐŽŵĞĂŶĚĞdžƉĞŶƐĞƐ ƌĞƚƵƌŶĞĚ ĂƌĞ ĂĐĐŽƵŶƚĞĚ ĨŽƌ ŝŶ ƚŚĞ LJĞĂƌ ŽĨ ƵŶĚĞƌ ĐŽƐƚ ŽĨ ŵĂƚĞƌŝĂůƐ ĐŽŶƐƵŵĞĚ ĂŶĚ ŽƚŚĞƌ ƌĞƚƵƌŶ͘ ĞdžƉĞŶƐĞƐ͘ d) džƉŽƌƚƐĂůĞƐĂƌĞĂĐĐŽƵŶƚĞĚĨŽƌŽŶƚŚĞďĂƐŝƐŽĨ  /ŶƚĞƌͲĚŝǀŝƐŝŽŶĂůƚƌĂŶƐĨĞƌͬĐĂƉƟǀĞĐŽŶƐƵŵƉƟŽŶƌĞůĂƚĞĚ ƚŚĞĚĂƚĞŽĨďŝůůŽĨůĂĚŝŶŐͬĂŝƌǁĂLJƐďŝůů͘ ƚŽĮdžĞĚĂƐƐĞƚƐŝƐĂƚĐŽƐƚ͘ e) džƉŽƌƚ ďĞŶĞĮƚƐ ĂǀĂŝůĂďůĞ ƵŶĚĞƌ ƚŚĞ džƉŽƌƚ džͿ &ŽƌĞŝŐŶƵƌƌĞŶĐLJdƌĂŶƐĂĐƟŽŶƐ /ŵƉŽƌƚƉŽůŝĐLJŽĨƚŚĞ'ŽǀĞƌŶŵĞŶƚŽĨ/ŶĚŝĂĂƌĞ  &ŽƌĞŝŐŶ ĐƵƌƌĞŶĐLJ ƚƌĂŶƐĂĐƟŽŶƐ ĂƌĞ ƌĞĐŽƌĚĞĚ Ăƚ ĂĐĐŽƵŶƚĞĚ ĨŽƌ ŝŶ ƚŚĞ LJĞĂƌ ŽĨ ĞdžƉŽƌƚ͕ ƚŽ ƚŚĞ ƚŚĞ ƌĂƚĞ ŽĨ ĞdžĐŚĂŶŐĞ ƉƌĞǀĂŝůŝŶŐ Ăƚ ƚŚĞ ĚĂƚĞ ŽĨ ƚŚĞ ĞdžƚĞŶƚŵĞĂƐƵƌĂďůĞ͘ ƚƌĂŶƐĂĐƟŽŶ͘ DŽŶĞƚĂƌLJ ĨŽƌĞŝŐŶ ĐƵƌƌĞŶĐLJ ĂƐƐĞƚƐ ĂŶĚ f) /ŶĐŽŵĞ ĨƌŽŵ ĂǀŝĂƟŽŶ ĂŶĚ ŽƚŚĞƌ ƐĞƌǀŝĐĞƐ ŝƐ ůŝĂďŝůŝƟĞƐ ĂƌĞ ƚƌĂŶƐůĂƚĞĚ Ăƚ ƚŚĞ LJĞĂƌͲĞŶĚ ĞdžĐŚĂŶŐĞ ĂĐĐŽƵŶƚĞĚ ĨŽƌ Ăƚ ƚŚĞ ƟŵĞ ŽĨ ĐŽŵƉůĞƟŽŶ ŽĨ ƌĂƚĞƐĂŶĚƌĞƐƵůƚĂŶƚŐĂŝŶƐͬůŽƐƐĞƐĂƌĞƌĞĐŽŐŶŝƐĞĚŝŶ ƐĞƌǀŝĐĞĂŶĚďŝůůŝŶŐƚŚĞƌĞŽĨ͘ ƚŚĞƐƚĂƚĞŵĞŶƚŽĨƉƌŽĮƚΘůŽƐƐĨŽƌƚŚĞLJĞĂƌ͕ĞdžĐĞƉƚ ƚŽ ƚŚĞ ĞdžƚĞŶƚ ƚŚĂƚ ƚŚĞLJ ƌĞůĂƚĞ ƚŽ ;ĂͿ ŶĞǁ ƉƌŽũĞĐƚƐ xiii) Other Income Ɵůů ƚŚĞ ĚĂƚĞ ŽĨ ĐĂƉŝƚĂůŝƐĂƟŽŶ ǁŚŝĐŚ ĂƌĞ ĐĂƌƌŝĞĚ a) Claims Receivable ƚŽ ĐĂƉŝƚĂů ǁŽƌŬͲŝŶͲƉƌŽŐƌĞƐƐ ĂŶĚ ƚŚŽƐĞ ƌĞůĂƟŶŐ ƚŽ  dŚĞƋƵĂŶƚƵŵŽĨĂĐĐƌƵĂůƐŝŶƌĞƐƉĞĐƚŽĨĐůĂŝŵƐ ƚĂŶŐŝďůĞ ĂƐƐĞƚƐ ǁŚŝĐŚ ĂƌĞ ĂĚũƵƐƚĞĚ ƚŽ ƚŚĞ ĐĂƌƌLJŝŶŐ ƌĞĐĞŝǀĂďůĞƐƵĐŚĂƐĨƌŽŵZĂŝůǁĂLJƐ͕/ŶƐƵƌĂŶĐĞ͕ ĐŽƐƚ ŽĨ ƚŚĞ ƌĞƐƉĞĐƟǀĞ ĂƐƐĞƚƐ͖ ĂŶĚ ;ďͿ ĞdžĐŚĂŶŐĞ ůĞĐƚƌŝĐŝƚLJ͕ ƵƐƚŽŵƐ͕ džĐŝƐĞ ĂŶĚ ƚŚĞ ůŝŬĞ ĂƌĞ ĚŝīĞƌĞŶĐĞĂƌŝƐŝŶŐŽŶƚŚĞůŽĂŶƐƉƌŽǀŝĚĞĚƚŽĨŽƌĞŝŐŶ ĂĐĐŽƵŶƚĞĚĨŽƌŽŶĂĐĐƌƵĂůďĂƐŝƐƚŽƚŚĞĞdžƚĞŶƚ ƐƵďƐŝĚŝĂƌŝĞƐďĞŝŶŐŶŽŶͲŝŶƚĞŐƌĂůĨŽƌĞŝŐŶŽƉĞƌĂƟŽŶƐŝƐ ƚŚĞƌĞŝƐĐĞƌƚĂŝŶƚLJŽĨƵůƟŵĂƚĞƌĞĂůŝƐĂƟŽŶ͘ ĂĐĐƵŵƵůĂƚĞĚŝŶĨŽƌĞŝŐŶĐƵƌƌĞŶĐLJƚƌĂŶƐůĂƟŽŶƌĞƐĞƌǀĞ͘ b) Income from Investment  /Ŷ ĐĂƐĞ ŽĨ ĨŽƌǁĂƌĚ ĨŽƌĞŝŐŶ ĞdžĐŚĂŶŐĞ ĐŽŶƚƌĂĐƚƐ͕  /ŶĐŽŵĞĨƌŽŵ/ŶǀĞƐƚŵĞŶƚŝƐĂĐĐŽƵŶƚĞĚĨŽƌŽŶ ĞdžĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐĂƌĞĚĞĂůƚǁŝƚŚŝŶƚŚĞƐƚĂƚĞŵĞŶƚ ĂĐĐƌƵĂůďĂƐŝƐǁŚĞŶƚŚĞƌŝŐŚƚƚŽƌĞĐĞŝǀĞŝŶĐŽŵĞ ŽĨƉƌŽĮƚΘůŽƐƐŽǀĞƌƚŚĞůŝĨĞŽĨƚŚĞĐŽŶƚƌĂĐƚĞdžĐĞƉƚ ŝƐĞƐƚĂďůŝƐŚĞĚ͘ ƚŚŽƐĞƌĞůĂƟŶŐƚŽƚĂŶŐŝďůĞĂƐƐĞƚƐŝŶǁŚŝĐŚĐĂƐĞƚŚĞLJ ĂƌĞĐĂƉŝƚĂůŝƐĞĚǁŝƚŚƚŚĞĐŽƐƚŽĨƌĞƐƉĞĐƟǀĞƚĂŶŐŝďůĞ džŝǀͿ džĐŝƐĞƵƚLJ ĂƐƐĞƚƐ͘ EŽŶͲŵŽŶĞƚĂƌLJ ĨŽƌĞŝŐŶ ĐƵƌƌĞŶĐLJ ŝƚĞŵƐ ĂƌĞ  džĐŝƐĞƵƚLJůŝĂďŝůŝƚLJŽŶĮŶŝƐŚĞĚŐŽŽĚƐŵĂŶƵĨĂĐƚƵƌĞĚ ĐĂƌƌŝĞĚĂƚŚŝƐƚŽƌŝĐĂůĐŽƐƚ͘ ĂŶĚ ůLJŝŶŐ ŝŶ ƚŚĞ ĨĂĐƚŽƌLJ ŝƐ ĂĐĐŽƵŶƚĞĚ ĨŽƌ ĂŶĚ ƚŚĞ ĐŽƌƌĞƐƉŽŶĚŝŶŐ ĂŵŽƵŶƚ ŝƐ ĐŽŶƐŝĚĞƌĞĚ ĨŽƌ ǀĂůƵĂƟŽŶ xi) Investments ƚŚĞƌĞŽĨ͘  /ŶǀĞƐƚŵĞŶƚƐƚŚĂƚĂƌĞƌĞĂĚŝůLJƌĞĂůŝƐĂďůĞĂŶĚŝŶƚĞŶĚĞĚ ƚŽďĞŚĞůĚĨŽƌŶŽƚŵŽƌĞƚŚĂŶĂLJĞĂƌĂƌĞĐůĂƐƐŝĮĞĚ džǀͿ ŵƉůŽLJĞĞĞŶĞĮƚƐ ĂƐ ĐƵƌƌĞŶƚ ŝŶǀĞƐƚŵĞŶƚƐ͘ ůů ŽƚŚĞƌ ŝŶǀĞƐƚŵĞŶƚƐ ĂƌĞ  džƉĞŶƐĞƐ Θ ůŝĂďŝůŝƟĞƐ ŝŶ ƌĞƐƉĞĐƚ ŽĨ ĞŵƉůŽLJĞĞ ĐůĂƐƐŝĮĞĚ ĂƐ ůŽŶŐͲƚĞƌŵ ŝŶǀĞƐƚŵĞŶƚƐ͘ EŽŶͲĐƵƌƌĞŶƚ ďĞŶĞĮƚƐĂƌĞƌĞĐŽƌĚĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚĐĐŽƵŶƟŶŐ ŝŶǀĞƐƚŵĞŶƚƐ ĂƌĞ ĐĂƌƌŝĞĚ Ăƚ ĐŽƐƚ͘ WƌŽǀŝƐŝŽŶ ŝƐ ŵĂĚĞ ^ƚĂŶĚĂƌĚ;^ͿͲϭϱͲ͚ŵƉůŽLJĞĞĞŶĞĮƚƐ͛͘ ǁŚĞŶ͕ŝŶƚŚĞŽƉŝŶŝŽŶŽĨƚŚĞŵĂŶĂŐĞŵĞŶƚ͕ĚŝŵŝŶƵƟŽŶ a) Provident Fund ŝŶƚŚĞǀĂůƵĞŽĨŝŶǀĞƐƚŵĞŶƚŝƐŽƚŚĞƌƚŚĂŶƚĞŵƉŽƌĂƌLJŝŶ  dŚĞ ŽŵƉĂŶLJ ĐŽŶƚƌŝďƵƚĞƐ ƚŽ 'ŽǀĞƌŶŵĞŶƚ ŶĂƚƵƌĞ͘dŚĞƌĞĚƵĐƟŽŶŝŶĐĂƌƌLJŝŶŐĂŵŽƵŶƚŝƐƌĞǀĞƌƐĞĚ ĂĚŵŝŶŝƐƚĞƌĞĚĨƵŶĚĂƐǁĞůůĂƐWƌŽǀŝĚĞŶƚĨƵŶĚ ǁŚĞŶƚŚĞƌĞŝƐĂƌŝƐĞŝŶǀĂůƵĞŽĨŝŶǀĞƐƚŵĞŶƚƐŽƌŝĨƚŚĞ dƌƵƐƚ͘ dŚĞ ŝŶƚĞƌĞƐƚ ƌĂƚĞ ƉĂLJĂďůĞ ďLJ ƚŚĞ ƚƌƵƐƚ ƌĞĂƐŽŶ ĨŽƌ ƚŚĞ ƌĞĚƵĐƟŽŶ ŶŽ ůŽŶŐĞƌ ĞdžŝƐƚƐ͘ ƵƌƌĞŶƚ ƚŽ ďĞŶĞĮĐŝĂƌŝĞƐ ĞǀĞƌLJ LJĞĂƌ ŝƐ ďĞŝŶŐ ŶŽƟĮĞĚ ŝŶǀĞƐƚŵĞŶƚƐ ĂƌĞ ĐĂƌƌŝĞĚ Ăƚ ƚŚĞ ůŽǁĞƌ ŽĨ ĐŽƐƚ Žƌ ďLJ 'ŽǀĞƌŶŵĞŶƚ͘ dŚĞ ŽŵƉĂŶLJ ŵĂŬĞƐ ŐŽŽĚ ŵĂƌŬĞƚͬĨĂŝƌǀĂůƵĞ͘ ĚĞĮĐŝĞŶĐLJ͕ŝĨĂŶLJ͕ŝŶƚŚĞŝŶƚĞƌĞƐƚƌĂƚĞĚĞĐůĂƌĞĚ džŝŝͿ ZĞǀĞŶƵĞZĞĐŽŐŶŝƟŽŶ ďLJƚŚĞƚƌƵƐƚǀŝƐͲăͲǀŝƐƐƚĂƚƵƚŽƌLJƌĂƚĞ͘ a) ZĞǀĞŶƵĞĨƌŽŵƐĂůĞŽĨŐŽŽĚƐŝƐƌĞĐŽŐŶŝƐĞĚŽŶ ďͿ 'ƌĂƚƵŝƚLJ ƚƌĂŶƐĨĞƌ ŽĨ ƐŝŐŶŝĮĐĂŶƚ ƌŝƐŬƐ ĂŶĚ ƌĞǁĂƌĚƐ ŽĨ  'ƌĂƚƵŝƚLJŝƐĂƉŽƐƚĞŵƉůŽLJŵĞŶƚďĞŶĞĮƚĂŶĚŝƐ ŽǁŶĞƌƐŚŝƉƚŽƚŚĞďƵLJĞƌ͘ ŝŶƚŚĞ ŶĂƚƵƌĞ ŽĨ Ă ĚĞĮŶĞĚ ďĞŶĞĮƚ ƉůĂŶ͘dŚĞ b) 'ƌŽƐƐ ZĞǀĞŶƵĞ ĨƌŽŵ ŽƉĞƌĂƟŽŶƐ ĐŽŵƉƌŝƐĞƐ ůŝĂďŝůŝƚLJ ƌĞĐŽŐŶŝƐĞĚ ŝŶ ƚŚĞ ĂůĂŶĐĞ ^ŚĞĞƚ ŝŶ ŽĨ ƐĂůĞ ŽĨ ƉƌŽĚƵĐƚƐ ĂŶĚ ŽƚŚĞƌ ŽƉĞƌĂƟŶŐ ƌĞƐƉĞĐƚ ŽĨ ŐƌĂƚƵŝƚLJ ŝƐ ƚŚĞ ƉƌĞƐĞŶƚ ǀĂůƵĞ ŽĨ ŝŶĐŽŵĞǁŚŝĐŚĂůƐŽŝŶĐůƵĚĞƐĞdžƉŽƌƚŝŶĐĞŶƟǀĞƐ ƚŚĞĚĞĮŶĞĚďĞŶĞĮƚͬŽďůŝŐĂƟŽŶĂƚƚŚĞĂůĂŶĐĞ ĂŶĚ ĂǀŝĂƟŽŶ ŝŶĐŽŵĞ͘ ͚EĞƚ ZĞǀĞŶƵĞ ĨƌŽŵ ^ŚĞĞƚĚĂƚĞůĞƐƐƚŚĞĨĂŝƌǀĂůƵĞŽĨƉůĂŶĂƐƐĞƚƐ͕ ŽƉĞƌĂƟŽŶƐ͕͛ ŶĞƚ ŽĨ ĞdžĐŝƐĞ ĚƵƚLJ ĂŶĚ /ŶƚĞƌͲ ƚŽŐĞƚŚĞƌ ǁŝƚŚ ĂĚũƵƐƚŵĞŶƚ ĨŽƌ ƵŶƌĞĐŽŐŶŝƐĞĚ ĚŝǀŝƐŝŽŶĂůƚƌĂŶƐĨĞƌŝƐĂůƐŽĚŝƐĐůŽƐĞĚƐĞƉĂƌĂƚĞůLJ͘ ĂĐƚƵĂƌŝĂůŐĂŝŶƐŽƌůŽƐƐĞƐĂŶĚƉĂƐƚƐĞƌǀŝĐĞĐŽƐƚƐ͘ dŚĞ ĚĞĮŶĞĚ ďĞŶĞĮƚͬŽďůŝŐĂƟŽŶ ŝƐ ĐĂůĐƵůĂƚĞĚ c) ^ĂůĞƐ ĂƌĞ ŝŶĐůƵƐŝǀĞ ŽĨ ĞdžĐŝƐĞ ĚƵƚLJ ďƵƚ ŶĞƚ ŽĨ Ăƚ Žƌ ŶĞĂƌ ƚŚĞ ĂůĂŶĐĞ ^ŚĞĞƚ ĚĂƚĞ ďLJ ĂŶ ƌĞƚƵƌŶƐ͕ƌĞďĂƚĞƐ͕sdĂŶĚƐĂůĞƐƚĂdž͘WƌŽĚƵĐƚƐ ŝŶĚĞƉĞŶĚĞŶƚĐƚƵĂƌLJƵƐŝŶŐƚŚĞƉƌŽũĞĐƚĞĚƵŶŝƚ

146 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

ĐƌĞĚŝƚ ŵĞƚŚŽĚ͘ ĐƚƵĂƌŝĂů ŐĂŝŶƐ Žƌ ůŽƐƐĞƐ ĂƌĞ ĞŵďŽĚLJŝŶŐ ĞĐŽŶŽŵŝĐ ďĞŶĞĮƚƐ ǁŝůů ďĞ ƌĞƋƵŝƌĞĚ ƚŽ ŝŵŵĞĚŝĂƚĞůLJ ƌĞĐŽŐŶŝƐĞĚ ŝŶ ƚŚĞ ƐƚĂƚĞŵĞŶƚ ŽĨ ƐĞƩůĞƚŚĞŽďůŝŐĂƟŽŶ͘tŚĞƌĞŝƚŝƐŶŽƚƉƌŽďĂďůĞƚŚĂƚĂŶ ƉƌŽĮƚΘůŽƐƐĂŶĚŶŽƚĚĞĨĞƌƌĞĚ͘ ŽƵƞůŽǁŽĨƌĞƐŽƵƌĐĞƐĞŵďŽĚLJŝŶŐĞĐŽŶŽŵŝĐďĞŶĞĮƚƐ ǁŝůůďĞƌĞƋƵŝƌĞĚŽƌƚŚĞĂŵŽƵŶƚĐĂŶŶŽƚďĞĞƐƟŵĂƚĞĚ c) Compensated Absences ƌĞůŝĂďůLJ͕ƚŚĞŽďůŝŐĂƟŽŶŝƐĚŝƐĐůŽƐĞĚĂƐĂĐŽŶƟŶŐĞŶƚ  >ŝĂďŝůŝƚLJŝŶƌĞƐƉĞĐƚŽĨĐŽŵƉĞŶƐĂƚĞĚĂďƐĞŶĐĞƐ ůŝĂďŝůŝƚLJĂŶĚĐŽŵŵŝƚŵĞŶƚƐ͕ƵŶůĞƐƐƚŚĞƉƌŽďĂďŝůŝƚLJŽĨ ĚƵĞŽƌĞdžƉĞĐƚĞĚƚŽďĞĂǀĂŝůĞĚǁŝƚŚŝŶŽŶĞLJĞĂƌ ŽƵƞůŽǁŽĨƌĞƐŽƵƌĐĞƐĞŵďŽĚLJŝŶŐĞĐŽŶŽŵŝĐďĞŶĞĮƚƐ ĨƌŽŵ ƚŚĞ ĂůĂŶĐĞ ^ŚĞĞƚ ĚĂƚĞ ŝƐ ƌĞĐŽŐŶŝƐĞĚ ŝƐƌĞŵŽƚĞ͘ ŽŶ ƚŚĞ ďĂƐŝƐ ŽĨ ƵŶĚŝƐĐŽƵŶƚĞĚ ǀĂůƵĞ ŽĨ  WŽƐƐŝďůĞ ŽďůŝŐĂƟŽŶƐ͕ ǁŚŽƐĞ ĞdžŝƐƚĞŶĐĞ ǁŝůů ŽŶůLJ ďĞ ĞƐƟŵĂƚĞĚ ĂŵŽƵŶƚ ƌĞƋƵŝƌĞĚ ƚŽ ďĞ ƉĂŝĚ Žƌ ĐŽŶĮƌŵĞĚďLJƚŚĞŽĐĐƵƌƌĞŶĐĞŽƌŶŽŶͲŽĐĐƵƌƌĞŶĐĞŽĨ ĞƐƟŵĂƚĞĚ ǀĂůƵĞ ŽĨ ďĞŶĞĮƚ ĞdžƉĞĐƚĞĚ ƚŽ ďĞ ŽŶĞ Žƌ ŵŽƌĞ ƵŶĐĞƌƚĂŝŶ ĞǀĞŶƚƐ͕ ĂƌĞ ĂůƐŽ ĚŝƐĐůŽƐĞĚ ĂǀĂŝůĞĚďLJƚŚĞĞŵƉůŽLJĞĞƐ͘>ŝĂďŝůŝƚLJŝŶƌĞƐƉĞĐƚ ĂƐ ĐŽŶƟŶŐĞŶƚ ůŝĂďŝůŝƟĞƐ ĂŶĚ ĐŽŵŵŝƚŵĞŶƚƐ ƵŶůĞƐƐ ŽĨ ĐŽŵƉĞŶƐĂƚĞĚ ĂďƐĞŶĐĞƐ ďĞĐŽŵŝŶŐ ĚƵĞ Žƌ ƚŚĞƉƌŽďĂďŝůŝƚLJŽĨŽƵƞůŽǁŽĨƌĞƐŽƵƌĐĞƐĞŵďŽĚLJŝŶŐ ĞdžƉĞĐƚĞĚ ƚŽ ďĞ ĂǀĂŝůĞĚ ŵŽƌĞ ƚŚĂŶ ŽŶĞ LJĞĂƌ ĞĐŽŶŽŵŝĐďĞŶĞĮƚƐŝƐƌĞŵŽƚĞ͘ŽŶƟŶŐĞŶƚĂƐƐĞƚƐĂƌĞ ĂŌĞƌƚŚĞĂůĂŶĐĞ^ŚĞĞƚĚĂƚĞŝƐĞƐƟŵĂƚĞĚŽŶ ŶĞŝƚŚĞƌ ƌĞĐŽŐŶŝƐĞĚ ŶŽƌ ĚŝƐĐůŽƐĞĚ ŝŶ ƚŚĞ ĮŶĂŶĐŝĂů ƚŚĞďĂƐŝƐŽĨĂŶĂĐƚƵĂƌŝĂůǀĂůƵĂƟŽŶƉĞƌĨŽƌŵĞĚ ƐƚĂƚĞŵĞŶƚƐ͘ ďLJ ĂŶ ŝŶĚĞƉĞŶĚĞŶƚ ĐƚƵĂƌLJ ƵƐŝŶŐ ƚŚĞ ƉƌŽũĞĐƚĞĚƵŶŝƚĐƌĞĚŝƚŵĞƚŚŽĚ͘ xix) Earnings Per Share ĚͿ KƚŚĞƌ^ŚŽƌƚdĞƌŵĞŶĞĮƚƐ dŚĞ ĞĂƌŶŝŶŐƐ ĐŽŶƐŝĚĞƌĞĚ ŝŶ ĂƐĐĞƌƚĂŝŶŝŶŐ ƚŚĞ  džƉĞŶƐĞ ŝŶ ƌĞƐƉĞĐƚ ŽĨ ŽƚŚĞƌ ƐŚŽƌƚ ƚĞƌŵ ŽŵƉĂŶLJ͛Ɛ ĞĂƌŶŝŶŐƐ ƉĞƌ ƐŚĂƌĞ ;W^Ϳ ĐŽŵƉƌŝƐĞ ďĞŶĞĮƚƐ ŝƐ ƌĞĐŽŐŶŝƐĞĚ ŽŶ ƚŚĞ ďĂƐŝƐ ŽĨ ƚŚĞ ŽĨ ƚŚĞ ŶĞƚ ƉƌŽĮƚ ĂŌĞƌ ƚĂdž ĂƩƌŝďƵƚĂďůĞ ƚŽ ĞƋƵŝƚLJ ĂŵŽƵŶƚƉĂŝĚŽƌƉĂLJĂďůĞĨŽƌƚŚĞƉĞƌŝŽĚĚƵƌŝŶŐ ƐŚĂƌĞŚŽůĚĞƌƐ͘ dŚĞ ŶƵŵďĞƌ ŽĨ ƐŚĂƌĞƐ ƵƐĞĚ ŝŶ ǁŚŝĐŚƐĞƌǀŝĐĞƐĂƌĞƌĞŶĚĞƌĞĚďLJƚŚĞĞŵƉůŽLJĞĞ͘ ĐŽŵƉƵƟŶŐďĂƐŝĐW^ŝƐƚŚĞǁĞŝŐŚƚĞĚĂǀĞƌĂŐĞŶƵŵďĞƌ ŽĨ ƐŚĂƌĞƐ ŽƵƚƐƚĂŶĚŝŶŐ ĚƵƌŝŶŐ ƚŚĞ ƉĞƌŝŽĚ ĂĚũƵƐƚĞĚ xvi) Research and Development Expenditure ĨŽƌ ĞǀĞŶƚƐ ŽĨ ďŽŶƵƐ ŝƐƐƵĞ ƉŽƐƚ ƉĞƌŝŽĚ ĞŶĚ͕ ďŽŶƵƐ  ZĞƐĞĂƌĐŚĂŶĚĞǀĞůŽƉŵĞŶƚĞdžƉĞŶĚŝƚƵƌĞŶŽƚĨƵůĮůůŝŶŐ ĞůĞŵĞŶƚƐ ŝŶ ƌŝŐŚƚ ŝƐƐƵĞ ƚŽ ĞdžŝƐƟŶŐ ƐŚĂƌĞŚŽůĚĞƌƐ͕ ƚŚĞ ƌĞĐŽŐŶŝƟŽŶ ĐƌŝƚĞƌŝĂ ĂƐ ƐĞƚ ŽƵƚ ŝŶ ĐĐŽƵŶƟŶŐ ƐŚĂƌĞƐƉůŝƚ͕ĂŶĚƌĞǀĞƌƐĞƐŚĂƌĞƐƉůŝƚ;ĐŽŶƐŽůŝĚĂƟŽŶŽĨ ^ƚĂŶĚĂƌĚ ;^ͲϮϲͿ ͚/ŶƚĂŶŐŝďůĞ ƐƐĞƚƐ͛ ŝƐ ĐŚĂƌŐĞĚ ƐŚĂƌĞƐͿ͘dŚĞĚŝůƵƚĞĚW^ŝƐĐĂůĐƵůĂƚĞĚŽŶƚŚĞƐĂŵĞ ƚŽ ƚŚĞ ƐƚĂƚĞŵĞŶƚ ŽĨ ƉƌŽĮƚ ĂŶĚ ůŽƐƐ ǁŚŝůĞ ĐĂƉŝƚĂů ďĂƐŝƐĂƐďĂƐŝĐW^͕ĂŌĞƌĂĚũƵƐƟŶŐĨŽƌƚŚĞĞīĞĐƚŽĨ ĞdžƉĞŶĚŝƚƵƌĞŝƐĂĚĚĞĚƚŽƚŚĞĐŽƐƚŽĨĮdžĞĚĂƐƐĞƚƐŝŶ ƉŽƚĞŶƟĂůĚŝůƵƟǀĞĞƋƵŝƚLJƐŚĂƌĞƐƵŶůĞƐƐŝŵƉĂĐƚŝƐĂŶƟͲ ƚŚĞLJĞĂƌŝŶǁŚŝĐŚŝƚŝƐŝŶĐƵƌƌĞĚ͘ ĚŝůƵƟǀĞ͘ xvii) Taxes on Income xx) Financial DĞƌŝǀĂƟǀĞƐ WƌŽǀŝƐŝŽŶ ĨŽƌ ĐƵƌƌĞŶƚ ƚĂdž ŝƐ ŵĂĚĞ ĐŽŶƐŝĚĞƌŝŶŐ &ŽƌǁĂƌĚ ĐŽŶƚƌĂĐƚƐ͕ ŽƚŚĞƌ ƚŚĂŶ ƚŚŽƐĞ ĞŶƚĞƌĞĚ ŝŶƚŽ ǀĂƌŝŽƵƐ ĂůůŽǁĂŶĐĞƐ ĂŶĚ ďĞŶĞĮƚƐ ĂǀĂŝůĂďůĞ ƚŽ ƚŚĞ ƚŽ ŚĞĚŐĞ ĨŽƌĞŝŐŶ ĐƵƌƌĞŶĐLJ ƌŝƐŬ ŽŶ ƵŶĞdžĞĐƵƚĞĚ ŽŵƉĂŶLJƵŶĚĞƌƚŚĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚĞ/ŶĐŽŵĞdĂdž Įƌŵ ĐŽŵŵŝƚŵĞŶƚƐ Žƌ ŚŝŐŚůLJ ƉƌŽďĂďůĞ ĨŽƌĞĐĂƐƚ Đƚ͕ϭϵϲϭ͘ ƚƌĂŶƐĂĐƟŽŶƐ͕ ĂƌĞ ƚƌĞĂƚĞĚ ĂƐ ĨŽƌĞŝŐŶ ĐƵƌƌĞŶĐLJ  /Ŷ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ĐĐŽƵŶƟŶŐ ^ƚĂŶĚĂƌĚ ;^ͲϮϮͿ ƚƌĂŶƐĂĐƟŽŶƐ ĂŶĚ ĂĐĐŽƵŶƚĞĚ ĨŽƌ ĂƐ ƉĞƌ ĐĐŽƵŶƟŶŐ ͚ĐĐŽƵŶƟŶŐ ĨŽƌ dĂdžĞƐ ŽŶ /ŶĐŽŵĞ͕͛ ĚĞĨĞƌƌĞĚ ƚĂdžĞƐ ^ƚĂŶĚĂƌĚ;^ͲϭϭͿ͚dŚĞīĞĐƚƐŽĨŚĂŶŐĞƐŝŶ&ŽƌĞŝŐŶ ƌĞƐƵůƟŶŐ ĨƌŽŵ ƟŵŝŶŐ ĚŝīĞƌĞŶĐĞƐ ďĞƚǁĞĞŶ Ŭ džĐŚĂŶŐĞ ZĂƚĞƐ͛͘ džĐŚĂŶŐĞ ĚŝīĞƌĞŶĐĞƐ ĂƌŝƐŝŶŐ ŽŶ ĂŶĚ ƚĂdž ƉƌŽĮƚƐ ĂƌĞ ĂĐĐŽƵŶƚĞĚ ĨŽƌ Ăƚ ƚŚĞ ƚĂdž ƌĂƚĞ ƐƵĐŚĐŽŶƚƌĂĐƚƐĂƌĞƌĞĐŽŐŶŝƐĞĚŝŶƚŚĞƉĞƌŝŽĚŝŶǁŚŝĐŚ ƐƵďƐƚĂŶƟǀĞůLJĞŶĂĐƚĞĚďLJƚŚĞĂůĂŶĐĞ^ŚĞĞƚĚĂƚĞƚŽ ƚŚĞLJĂƌŝƐĞ͘ ƚŚĞĞdžƚĞŶƚƚŚĞƟŵŝŶŐĚŝīĞƌĞŶĐĞƐĂƌĞĞdžƉĞĐƚĞĚƚŽďĞ ůů ŽƚŚĞƌ ĚĞƌŝǀĂƟǀĞ ĐŽŶƚƌĂĐƚƐ͕ ŝŶĐůƵĚŝŶŐ ĨŽƌǁĂƌĚ ĐƌLJƐƚĂůůŝƐĞĚ͘ĞĨĞƌƌĞĚƚĂdžĂƐƐĞƚƐĂƌĞƌĞĐŽŐŶŝƐĞĚĂŶĚ ĐŽŶƚƌĂĐƚƐ ĞŶƚĞƌĞĚ ŝŶƚŽ ƚŽ ŚĞĚŐĞ ĨŽƌĞŝŐŶ ĐƵƌƌĞŶĐLJͬ ƌĞǀŝĞǁĞĚĂƚĞĂĐŚĂůĂŶĐĞ^ŚĞĞƚĚĂƚĞƚŽƚŚĞĞdžƚĞŶƚ ŝŶƚĞƌĞƐƚƌĂƚĞƌŝƐŬŽŶƵŶĞdžĞĐƵƚĞĚĮƌŵĐŽŵŵŝƚŵĞŶƚƐ ƚŚĞƌĞŝƐƌĞĂƐŽŶĂďůĞͬǀŝƌƚƵĂůĐĞƌƚĂŝŶƚLJŽĨƌĞĂůŝƐŝŶŐƐƵĐŚ ĂŶĚ ŚŝŐŚůLJ ƉƌŽďĂďůĞ ĨŽƌĞĐĂƐƚ ƚƌĂŶƐĂĐƟŽŶƐ͕ ĂƌĞ ĂƐƐĞƚƐĂŐĂŝŶƐƚĨƵƚƵƌĞƚĂdžĂďůĞŝŶĐŽŵĞ͘ ƌĞĐŽŐŶŝƐĞĚ ŝŶ ƚŚĞ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ Ăƚ ĨĂŝƌ  DŝŶŝŵƵŵ ůƚĞƌŶĂƚĞ dĂdž ;DdͿĐƌĞĚŝƚ ŝƐ ƌĞĐŽŐŶŝƐĞĚ ǀĂůƵĞ Ăƚ ĞĂĐŚ ƌĞƉŽƌƟŶŐ ĚĂƚĞ͕ ŝŶ ƉƵƌƐƵĂŶĐĞ ŽĨ ĂƐ ĂŶ ĂƐƐĞƚ ŽŶůLJ ǁŚĞŶ ĂŶĚ ƚŽ ƚŚĞ ĞdžƚĞŶƚ ƚŚĞƌĞ ŝƐ ƚŚĞ ĂŶŶŽƵŶĐĞŵĞŶƚ ŽĨ dŚĞ /ŶƐƟƚƵƚĞ ŽĨ ŚĂƌƚĞƌĞĚ ĐŽŶǀŝŶĐŝŶŐ ĞǀŝĚĞŶĐĞ ƚŚĂƚ ƚŚĞ ŽŵƉĂŶLJ ǁŝůů ƉĂLJ ĐĐŽƵŶƚĂŶƚƐ ŽĨ /ŶĚŝĂ ;//Ϳ ŽŶ ĐĐŽƵŶƟŶŐ ĨŽƌ ŶŽƌŵĂůŝŶĐŽŵĞƚĂdžĚƵƌŝŶŐƚŚĞƐƉĞĐŝĮĞĚƉĞƌŝŽĚ͘ ĞƌŝǀĂƟǀĞƐ͘ xviii) Provisions, CŽŶƟŶŐĞŶƚLŝĂďŝůŝƟĞƐ͕ xxi) Cash and Cash Equivalents CŽŵŵŝƚŵĞŶƚƐĂŶĚŽŶƟŶŐĞŶƚƐƐĞƚƐ  ĂƐŚ ĂŶĚ ĐĂƐŚ ĞƋƵŝǀĂůĞŶƚƐ ĐŽŶƐŝƐƚ ŽĨ ĐĂƐŚ͕ ďĂŶŬ WƌŽǀŝƐŝŽŶƐĂƌĞƌĞĐŽŐŶŝƐĞĚĨŽƌƉƌĞƐĞŶƚŽďůŝŐĂƟŽŶƐŽĨ ďĂůĂŶĐĞƐ ŝŶ ĐƵƌƌĞŶƚ ĂŶĚ ƐŚŽƌƚͲƚĞƌŵ ŚŝŐŚůLJ ůŝƋƵŝĚ ƵŶĐĞƌƚĂŝŶƟŵŝŶŐŽƌĂŵŽƵŶƚĂƌŝƐŝŶŐĂƐĂƌĞƐƵůƚŽĨĂ ŝŶǀĞƐƚŵĞŶƚƐƚŚĂƚĂƌĞƌĞĂĚŝůLJĐŽŶǀĞƌƟďůĞƚŽĐĂƐŚǁŝƚŚ ƉĂƐƚĞǀĞŶƚǁŚĞƌĞĂƌĞůŝĂďůĞĞƐƟŵĂƚĞĐĂŶďĞŵĂĚĞ ŽƌŝŐŝŶĂů ŵĂƚƵƌŝƟĞƐ ŽĨ ƚŚƌĞĞ ŵŽŶƚŚƐ Žƌ ůĞƐƐ Ăƚ ƚŚĞ ĂŶĚ ŝƚ ŝƐ ƉƌŽďĂďůĞ ƚŚĂƚ ĂŶ ŽƵƞůŽǁ ŽĨ ƌĞƐŽƵƌĐĞƐ ƟŵĞŽĨƉƵƌĐŚĂƐĞ͘

147 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 3. SHARE CAPITAL Authorised Ϯ͕ϬϬ͕ϬϬ͕ϬϬ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϮ͕ϬϬ͕ϬϬ͕ϬϬ͕ϬϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭĞĂĐŚ ϮϬϬ͘ϬϬ ϮϬϬ͘ϬϬ 200.00 200.00 /ƐƐƵĞĚ͕^ƵďƐĐƌŝďĞĚĂŶĚ&ƵůůLJWĂŝĚͲƵƉ ϵϯ͕ϰϴ͕ϯϯ͕ϴϭϴ;WƌĞǀŝŽƵƐLJĞĂƌϵϯ͕ϰϴ͕ϯϯ͕ϴϭϴͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭĞĂĐŚ ϵϯ͘ϰϴ ϵϯ͘ϰϴ Total Share Capital 93.48 93.48 (a) ZĞĐŽŶĐŝůŝĂƟŽŶ ŽĨ ƚŚĞ ŶƵŵďĞƌ ŽĨ ƐŚĂƌĞƐ ŽƵƚƐƚĂŶĚŝŶŐ Ăƚ ƚŚĞ ďĞŐŝŶŶŝŶŐ ĂŶĚ Ăƚ ƚŚĞ ĞŶĚ ŽĨ ƚŚĞƌĞƉŽƌƟŶŐ period WĂƌƟĐƵůĂƌƐ No. of Shares No. of Shares

ƋƵŝƚLJ^ŚĂƌĞƐŽƵƚƐƚĂŶĚŝŶŐĂƚƚŚĞďĞŐŝŶŶŝŶŐŽĨƚŚĞLJĞĂƌ ϵϯ͕ϰϴ͕ϯϯ͕ϴϭϴ ϵϯ͕ϰϮ͕ϲϵ͕Ϭϯϭ ĚĚ͗ƋƵŝƚLJ^ŚĂƌĞƐŝƐƐƵĞĚƵŶĚĞƌŵƉůŽLJĞĞƐ^ƚŽĐŬKƉƟŽŶ^ĐŚĞŵĞ Ͳ ϱ͕ϲϰ͕ϳϴϳ ƋƵŝƚLJ^ŚĂƌĞƐŽƵƚƐƚĂŶĚŝŶŐĂƚƚŚĞĐůŽƐĞŽĨƚŚĞLJĞĂƌ 93,48,33,818 93,48,33,818

ďͿ dĞƌŵƐͬƌŝŐŚƚƐĂƩĂĐŚĞĚƚŽĞƋƵŝƚLJƐŚĂƌĞƐ   dŚĞŽŵƉĂŶLJŚĂƐŽŶůLJŽŶĞĐůĂƐƐŽĨĞƋƵŝƚLJƐŚĂƌĞƐŚĂǀŝŶŐƉĂƌǀĂůƵĞŽĨ`ϭƉĞƌƐŚĂƌĞ͘ĂĐŚŚŽůĚĞƌŽĨĞƋƵŝƚLJƐŚĂƌĞŝƐĞŶƟƚůĞĚ ƚŽŽŶĞǀŽƚĞƉĞƌƐŚĂƌĞ͘dŚĞŽŵƉĂŶLJĚĞĐůĂƌĞƐĚŝǀŝĚĞŶĚƐŝŶ/ŶĚŝĂŶƌƵƉĞĞƐ͘dŚĞĚŝǀŝĚĞŶĚƉƌŽƉŽƐĞĚďLJƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐ ŝƐƐƵďũĞĐƚƚŽƚŚĞĂƉƉƌŽǀĂůŽĨƚŚĞ^ŚĂƌĞŚŽůĚĞƌƐŝŶƚŚĞĞŶƐƵŝŶŐŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐ͘  ƵƌŝŶŐƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ͕ƚŚĞĂŵŽƵŶƚŽĨƉĞƌƐŚĂƌĞĚŝǀŝĚĞŶĚƉƌŽƉŽƐĞĚ͕ƐƵďũĞĐƚƚŽĂƉƉƌŽǀĂůŽĨƐŚĂƌĞŚŽůĚĞƌƐ ŝŶĂŶŶƵĂůŐĞŶĞƌĂůŵĞĞƟŶŐ͕ĨŽƌĚŝƐƚƌŝďƵƟŽŶƚŽĞƋƵŝƚLJƐŚĂƌĞŚŽůĚĞƌƐŝƐ`ϭ͘ϲϬ;WƌĞǀŝŽƵƐzĞĂƌ`ϭ͘ϲϬͿ  /ŶƚŚĞĞǀĞŶƚŽĨůŝƋƵŝĚĂƟŽŶŽĨƚŚĞŽŵƉĂŶLJ͕ƚŚĞŚŽůĚĞƌƐŽĨĞƋƵŝƚLJƐŚĂƌĞƐǁŝůůďĞĞŶƟƚůĞĚƚŽƌĞĐĞŝǀĞĂƐƐĞƚƐŽĨƚŚĞŽŵƉĂŶLJ͘ dŚĞĚŝƐƚƌŝďƵƟŽŶǁŝůůďĞŝŶƉƌŽƉŽƌƟŽŶƚŽƚŚĞŶƵŵďĞƌŽĨĞƋƵŝƚLJƐŚĂƌĞƐŚĞůĚďLJƚŚĞƐŚĂƌĞŚŽůĚĞƌƐ͘ ĐͿ ŐŐƌĞŐĂƚĞŶƵŵďĞƌŽĨďŽŶƵƐƐŚĂƌĞƐŝƐƐƵĞĚ͕ƐŚĂƌĞƐŝƐƐƵĞĚĨŽƌĐŽŶƐŝĚĞƌĂƟŽŶŽƚŚĞƌƚŚĂŶĐĂƐŚĂŶĚƐŚĂƌĞƐ ďŽƵŐŚƚďĂĐŬĚƵƌŝŶŐƚŚĞƉĞƌŝŽĚŽĨĮǀĞLJĞĂƌƐŝŵŵĞĚŝĂƚĞůLJƉƌĞĐĞĚŝŶŐƚŚĞƌĞƉŽƌƟŶŐĚĂƚĞ͗  ƵƌŝŶŐĮǀĞLJĞĂƌƐŝŵŵĞĚŝĂƚĞůLJƉƌĞĐĞĞĚŝŶŐϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ͕ƚŚĞŽŵƉĂŶLJŚĂƐŶŽƚĂůůŽƚĞĚĂŶLJĞƋƵŝƚLJƐŚĂƌĞƐĂƐĨƵůůLJƉĂŝĚͲ ƵƉƉƵƌƐƵĂŶƚƚŽĐŽŶƚƌĂĐƚƐĨŽƌĐŽŶƐŝĚĞƌĂƟŽŶŽƚŚĞƌƚŚĂŶĐĂƐŚ͘  ƵƌŝŶŐĮǀĞLJĞĂƌƐŝŵŵĞĚŝĂƚĞůLJƉƌĞĐĞĞĚŝŶŐϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ͕ƚŚĞŽŵƉĂŶLJŚĂƐŶŽƚďŽƵŐŚƚďĂĐŬĂŶLJĞƋƵŝƚLJƐŚĂƌĞƐ͘  ƵƌŝŶŐƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϬ͕ƚŚĞŽŵƉĂŶLJĂůůŽƩĞĚϳϳ͕ϱϲ͕ϱϭ͕ϱϯϬĞƋƵŝƚLJƐŚĂƌĞƐĂƐĨƵůůLJƉĂŝĚďŽŶƵƐƐŚĂƌĞƐďLJ ĐĂƉŝƚĂůŝƐŝŶŐƐĞĐƵƌŝƟĞƐƉƌĞŵŝƵŵƌĞƐĞƌǀĞ͘  /ŶĂĚĚŝƟŽŶƚŚĞŽŵƉĂŶLJĂůůŽƩĞĚƚŚĞĨŽůůŽǁŝŶŐĞƋƵŝƚLJƐŚĂƌĞƐĚƵƌŝŶŐƚŚĞƉƌĞĐĞĚŝŶŐĮǀĞLJĞĂƌƐƵŶĚĞƌŝƚƐǀĂƌŝŽƵƐŵƉůŽLJĞĞƐ ^ƚŽĐŬKƉƟŽŶ^ĐŚĞŵĞƐ;ŶŽƚĞŶŽ͗ͲϯĨďĞůŽǁͿ

ƵƌŝŶŐƚŚĞLJĞĂƌĞŶĚĞĚ No. of Shares ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ Ͳ  ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ ϱ͕ϲϰ͕ϳϴϳ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϭ ϯϬ͕ϯϰ͕ϵϰϵ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϬ ϵ͕Ϯϵ͕ϴϲϵ ϯϭƐƚDĂƌĐŚ͕ϮϬϬϵ ϲ͕ϵϭ͕ϯϰϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϬϴ Ͳ  Total 52,20,948

148 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

d) ĞƚĂŝůƐŽĨƐŚĂƌĞŚŽůĚĞƌƐŚŽůĚŝŶŐŵŽƌĞƚŚĂŶϱйƐŚĂƌĞƐŝŶƚŚĞŽŵƉĂŶLJ Name of the Shareholder As at 31st March, 2013 As at 31st March, 2012 No. of Shares % holding No. of Shares % holding ƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭĞĂĐŚĨƵůůLJƉĂŝĚ 'ĂŐĂŶ/ŶĨƌĂĞŶĞƌŐLJ>ŝŵŝƚĞĚ ϲ͕ϲϵ͕ϱϰ͕ϬϲϬ ϳ͘ϭϲй ϲ͕ϲϵ͕ϱϰ͕ϬϲϬ ϳ͘ϭϲй KƉĞůŝŶĂ&ŝŶĂŶĐĞĂŶĚ/ŶǀĞƐƚŵĞŶƚ>ŝŵŝƚĞĚ ϳ͕ϵϴ͕ϯϴ͕ϵϲϬ ϴ͘ϱϰй ϳ͕ϵϴ͕ϯϴ͕ϵϲϬ ϴ͘ϱϰй ^ƵŶ/ŶǀĞƐƚŵĞŶƚ>ŝŵŝƚĞĚ ϴ͕ϲϵ͕ϳϴ͕ϵϰϬ ϵ͘ϯϬй ϴ͕ϲϵ͕ϳϴ͕ϵϰϬ ϵ͘ϯϬй

Ɛ ƉĞƌ ƌĞĐŽƌĚƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ͕ ŝŶĐůƵĚŝŶŐ ŝƚƐ ƌĞŐŝƐƚĞƌ ŽĨ ƐŚĂƌĞŚŽůĚĞƌƐͬŵĞŵďĞƌƐ ĂŶĚ ŽƚŚĞƌ ĚĞĐůĂƌĂƟŽŶƐ ƌĞĐĞŝǀĞĚ ĨƌŽŵ ƐŚĂƌĞŚŽůĚĞƌƐƌĞŐĂƌĚŝŶŐďĞŶĞĮĐŝĂůŝŶƚĞƌĞƐƚ͕ƚŚĞĂďŽǀĞƐŚĂƌĞŚŽůĚŝŶŐƌĞƉƌĞƐĞŶƚƐďŽƚŚůĞŐĂůĂŶĚďĞŶĞĮĐŝĂůŽǁŶĞƌƐŚŝƉŽĨƐŚĂƌĞƐ͘

e) Forfeited Shares ƐŚĂƌĞ;^ĞƌŝĞƐͲϭͿǁŚŝĐŚǁŽƵůĚǀĞƐƚĂŌĞƌϮLJĞĂƌƐ  WƵƌƐƵĂŶƚ ƚŽ ƚŚĞ ƌĞƐŽůƵƟŽŶ ƉĂƐƐĞĚ Ăƚ ƚŚĞ ĞdžƚƌĂ ĨƌŽŵ ƚŚĞ ĚĂƚĞ ŽĨ ŐƌĂŶƚ ƚŽ ƚŚĞ ĞdžƚĞŶƚ ŽĨ ϱϬй ŽƌĚŝŶĂƌLJ ŐĞŶĞƌĂů ŵĞĞƟŶŐ ĚĂƚĞĚ ϰƚŚ ^ĞƉƚĞŵďĞƌ͕ ;WĂƌƚ ϭͿ͕ ĂŌĞƌ ϯ LJĞĂƌƐ ĨƌŽŵ ƚŚĞ ĚĂƚĞ ŽĨ ŐƌĂŶƚ ϮϬϬϵ͕ ƚŚĞ ŽŵƉĂŶLJ ƌĞĐůĂƐƐŝĮĞĚ ƚŚĞ ĂƵƚŚŽƌŝƐĞĚ ƚŽƚŚĞĞdžƚĞŶƚŽĨϮϱй;WĂƌƚϮͿĂŶĚĂŌĞƌϰLJĞĂƌƐ ƐŚĂƌĞ ĐĂƉŝƚĂů ŽĨ ƚŚĞ ŽŵƉĂŶLJ ďLJ ĐĂŶĐĞůůĂƟŽŶ ŽĨ ĨƌŽŵ ƚŚĞ ĚĂƚĞ ŽĨ ŐƌĂŶƚ ƚŽ ƚŚĞ ĞdžƚĞŶƚ ŽĨ Ϯϱй ϭ͕ϬϬ͕ϬϬ͕ϬϬϬ WƌĞĨĞƌĞŶĐĞ ^ŚĂƌĞƐ ŽĨ ` ϭϬϬ ĞĂĐŚ ĂŶĚ ;WĂƌƚϯͿ͖ ƐŝŵƵůƚĂŶĞŽƵƐĐƌĞĂƟŽŶŽĨϭ͕ϬϬ͕ϬϬ͕ϬϬ͕ϬϬϬĨƌĞƐŚƋƵŝƚLJ ďͿ ϭ͕Ϯϵ͕ϱϱϬ ;KŶĞ ůĂĐ ƚǁĞŶƚLJ ŶŝŶĞ ƚŚŽƵƐĂŶĚ ` ^ŚĂƌĞƐ ŽĨ  ϭ ĞĂĐŚ ĂŶĚ ŝŶĐƌĞĂƐĞĚ ƚŚĞ ĂƵƚŚŽƌŝƐĞĚ ĮǀĞ ŚƵŶĚƌĞĚ ĮŌLJͿ ƐƚŽĐŬ ŽƉƟŽŶƐ ŽŶ ϮŶĚ ` ƐŚĂƌĞĐĂƉŝƚĂůƚŽ Ϯ͕ϬϬ͕ϬϬ͕ϬϬ͕ϬϬϬ͘  ^ĞƉƚĞŵďĞƌ͕ ϮϬϬϲ Ăƚ ĂŶ ĞdžĞƌĐŝƐĞ ƉƌŝĐĞ ŽĨ `  ŽŶƐĞƋƵĞŶƚůLJ͕ ƚŚĞ ŽŵƉĂŶLJ ŚĂĚ ĐĂŶĐĞůůĞĚ ϭ͕ϭϮϭͬͲƉĞƌƐŚĂƌĞ;^ĞƌŝĞƐͲ//ͿǁŚŝĐŚǁŽƵůĚ ϮϬ͕ϬϬ͕ϬϬϬƉƌĞĨĞƌĞŶĐĞƐŚĂƌĞƐŽĨ`ϭϬϬĞĂĐŚ;`ϱƉĂŝĚ ǀĞƐƚ ĂŌĞƌ Ϯ LJĞĂƌƐ ĨƌŽŵ ƚŚĞ ĚĂƚĞ ŽĨ ŐƌĂŶƚ ƚŽ ƵƉͿǁŚŝĐŚǁĞƌĞĨŽƌĞĨĞŝƚĞĚĞĂƌůŝĞƌ͘hƉŽŶĐĂŶĐĞůůĂƟŽŶ ƚŚĞĞdžƚĞŶƚŽĨϱϬй;WĂƌƚϭͿ͕ĂŌĞƌϯLJĞĂƌƐĨƌŽŵ ŽĨ ƐƵĐŚ ƐŚĂƌĞƐ͕ ƚŚĞ ĂŵŽƵŶƚ ŽĨ ` ϭ͕ϬϬ͕ϬϬ͕ϬϬϬ ǁĂƐ ƚŚĞĚĂƚĞŽĨŐƌĂŶƚƚŽƚŚĞĞdžƚĞŶƚŽĨϮϱй;WĂƌƚϮͿ ƚƌĂŶƐĨĞƌƌĞĚƚŽ'ĞŶĞƌĂůZĞƐĞƌǀĞ͘ ĂŶĚĂŌĞƌϰLJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞŽĨŐƌĂŶƚƚŽƚŚĞ ĞdžƚĞŶƚŽĨϮϱй;WĂƌƚϯͿ͖ĂŶĚ f) Shares Reserved for Issue under OƉƟŽŶƐ dŚĞ ĚĞƚĂŝůƐ ŽĨ ƐŚĂƌĞƐ ƌĞƐĞƌǀĞĚ ĨŽƌ ŝƐƐƵĞ ƵŶĚĞƌ ĐͿ ϭ͕ϯϲ͕ϵϱϬ ;KŶĞ ůĂĐ ƚŚŝƌƚLJ Ɛŝdž ƚŚŽƵƐĂŶĚ ŶŝŶĞ ŵƉůŽLJĞĞƐƚŽĐŬŽƉƟŽŶ;^KWͿƉůĂŶŽĨƚŚĞŽŵƉĂŶLJ ŚƵŶĚƌĞĚ ĮŌLJͿ ƐƚŽĐŬ ŽƉƟŽŶƐ ŽŶ ϮϳƚŚ Ɖƌŝů͕ ` ĂƌĞĂƐƵŶĚĞƌ͗ ϮϬϬϳ Ăƚ ĂŶ ĞdžĞƌĐŝƐĞ ƉƌŝĐĞ ŽĨ  ϭ͕ϴϭϵͬͲ ƉĞƌ ƐŚĂƌĞ ;^ĞƌŝĞƐͲ ///Ϳ ǁŚŝĐŚ ǁŽƵůĚ ǀĞƐƚ ĂŌĞƌ Ϯ  dŚĞŵƉůŽLJĞĞƐ^ƚŽĐŬKƉƟŽŶ^ĐŚĞŵĞͲϮϬϬϱ;^K^Ͳ LJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞŽĨŐƌĂŶƚƚŽƚŚĞĞdžƚĞŶƚŽĨ ϮϬϬϱͿ ǁĂƐ ĂƉƉƌŽǀĞĚ ďLJ ƚŚĞ ƐŚĂƌĞŚŽůĚĞƌƐ ŽĨ ƚŚĞ ϱϬй;WĂƌƚϭͿ͕ĂŌĞƌϯLJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞŽĨ ŽŵƉĂŶLJ ŝŶ ƚŚĞŝƌ ŶŶƵĂů 'ĞŶĞƌĂů DĞĞƟŶŐ ŚĞůĚ ŐƌĂŶƚƚŽƚŚĞĞdžƚĞŶƚŽĨϮϱй;WĂƌƚϮͿĂŶĚĂŌĞƌϰ ŽŶ ϮϱƚŚ :ƵůLJ͕ ϮϬϬϱ ĂŶĚ ĂŵĞŶĚĞĚ ďLJ ƐŚĂƌĞŚŽůĚĞƌƐ LJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞŽĨŐƌĂŶƚƚŽƚŚĞĞdžƚĞŶƚŽĨ ŽŶ ϮϳƚŚ ^ĞƉƚĞŵďĞƌ͕ ϮϬϬϲ͘ hŶĚĞƌ ^K^ͲϮϬϬϱ͕ Ă Ϯϱй;WĂƌƚϯͿ͘ ŵĂdžŝŵƵŵŽĨϭϭ͕ϬϬ͕ϬϬϬ;ůĞǀĞŶůĂĐƐͿĞƋƵŝƚLJƐŚĂƌĞƐ ŽĨ`ϱͬͲĞĂĐŚĐŽƵůĚďĞŐƌĂŶƚĞĚƚŽƚŚĞĞŵƉůŽLJĞĞƐ  WƵƌƐƵĂŶƚƚŽůĂƵƐĞϱ͘ϯ;ĨͿŽĨ^/;ŵƉůŽLJĞĞƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ĂŶĚ ŝƚƐ ƐƵďƐŝĚŝĂƌLJ ŽŵƉĂŶLJ;ŝĞƐͿ͘ ^ƚŽĐŬ KƉƟŽŶ ^ĐŚĞŵĞ ĂŶĚ ŵƉůŽLJĞĞƐ ^ƚŽĐŬ /ŶͲƉƌŝŶĐŝƉůĞĂƉƉƌŽǀĂůĨƌŽŵEĂƟŽŶĂů^ƚŽĐŬdžĐŚĂŶŐĞ WƵƌĐŚĂƐĞ^ĐŚĞŵĞͿ'ƵŝĚĞůŝŶĞƐ͕ϭϵϵϵĂŶĚƉĂƌĂ ŽĨ/ŶĚŝĂ>ŝŵŝƚĞĚ;E^ͿĂŶĚŽŵďĂLJ^ƚŽĐŬdžĐŚĂŶŐĞ ϭϴ ŽĨ ƚŚĞ ŵƉůŽLJĞĞƐ ^ƚŽĐŬ KƉƟŽŶ ^ĐŚĞŵĞ >ŝŵŝƚĞĚ ;^Ϳ ǁĂƐ ŐŝǀĞŶ ŽŶ ϭƐƚ &ĞďƌƵĂƌLJ͕ ϮϬϬϲ͘  Ͳ ϮϬϬϱ ŽĨ ƚŚĞ ŽŵƉĂŶLJ͕ ƚŚĞ ŽŵƉĞŶƐĂƟŽŶ ŽŵƉĞŶƐĂƟŽŶ ŽŵŵŝƩĞĞ ǁĂƐ ĐŽŶƐƟƚƵƚĞĚ ďLJ ƚŚĞ ŽŵŵŝƩĞĞ ŝƐ ĂƵƚŚŽƌŝƐĞĚ ƚŽ ŵĂŬĞ Ă ĨĂŝƌ ĂŶĚ ŽĂƌĚŽĨŝƌĞĐƚŽƌƐŽĨƚŚĞŽŵƉĂŶLJŝŶƚŚĞŝƌŵĞĞƟŶŐ ƌĞĂƐŽŶĂďůĞ ĂĚũƵƐƚŵĞŶƚ ƚŽ ƚŚĞ ŶƵŵďĞƌ ŽĨ ŚĞůĚ ŽŶ ϭϮƚŚ DĂLJ͕ ϮϬϬϱ ĨŽƌ ƚŚĞ ĂĚŵŝŶŝƐƚƌĂƟŽŶ ŽĨ ŽƉƟŽŶƐĂŶĚƚŽƚŚĞĞdžĞƌĐŝƐĞƉƌŝĐĞŝŶƌĞƐƉĞĐƚŽĨ ^K^ͲϮϬϬϱ͘ hŶĚĞƌ ^K^ͲϮϬϬϱ͕ ƚŚĞ ŽŵƉĞŶƐĂƟŽŶ ŽƉƟŽŶƐŐƌĂŶƚĞĚƚŽƚŚĞĞŵƉůŽLJĞĞƐƵŶĚĞƌƚŚĞ ŽŵŵŝƩĞĞŚĂƐŐƌĂŶƚĞĚƐƚŽĐŬŽƉƟŽŶƐĂƐĨŽůůŽǁƐ͗Ͳ ^ĐŚĞŵĞŝŶĐĂƐĞŽĨĐŽƌƉŽƌĂƚĞĂĐƟŽŶƐƐƵĐŚĂƐ ƌŝŐŚƚŝƐƐƵĞ͕ďŽŶƵƐŝƐƐƵĞ͕ŵĞƌŐĞƌĞƚĐ͘ ĂͿ ϴ͕ϱϵ͕ϰϬϬ ;ŝŐŚƚ ůĂĐƐ ĮŌLJ ŶŝŶĞ ƚŚŽƵƐĂŶĚ ĨŽƵƌ ŚƵŶĚƌĞĚͿ ƐƚŽĐŬ ŽƉƟŽŶƐ ŽŶ ϮϲƚŚ EŽǀĞŵďĞƌ͕  KŶ ϮϳƚŚ ĞĐĞŵďĞƌ͕ϮϬϬϳ͕ ƐƵďͲĚŝǀŝƐŝŽŶ ŽĨ ƚŚĞ ĨĂĐĞ ϮϬϬϱ Ăƚ ĂŶ ĞdžĞƌĐŝƐĞ ƉƌŝĐĞ ŽĨ ` ϭ͕ϬϭϰͬͲ ƉĞƌ ǀĂůƵĞ ŽĨ ĞĂĐŚ ĞƋƵŝƚLJ ƐŚĂƌĞ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ĨƌŽŵ

149 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

`ϱͬͲƚŽϱĞƋƵŝƚLJƐŚĂƌĞƐŽĨ`ϭͬͲĞĂĐŚǁĂƐĂƉƉƌŽǀĞĚ ĂͿ dŚĞ ŶƵŵďĞƌ ŽĨ ƵŶĞdžĞƌĐŝƐĞĚ ŽƉƟŽŶƐ ĂŶĚ ďLJ ƚŚĞ ƐŚĂƌĞŚŽůĚĞƌƐ ŝŶ ƚŚĞŝƌ 'ĞŶĞƌĂů DĞĞƟŶŐ͘ ŽƉƟŽŶƐ LJĞƚ ƚŽ ďĞ ŐƌĂŶƚĞĚ ŝƐ ŝŶĐƌĞĂƐĞĚ ďLJ dŚĞƌĞĂŌĞƌ͕ ƚŚĞ ŽŵƉĞŶƐĂƟŽŶ ŽŵŵŝƩĞĞ ŚĂƐ͕ ŝŶ ϱƟŵĞƐĐŽŶƐĞƋƵĞŶƚůLJŝŶĐƌĞĂƐŝŶŐƚŚĞŶƵŵďĞƌ ŝƚƐ ŵĞĞƟŶŐ ŚĞůĚ ŽŶ ϮϳƚŚ :ĂŶƵĂƌLJ͕ ϮϬϬϴ͕ ŵĂĚĞ ĂŶ ŽĨƵŶĞdžĞƌĐŝƐĞĚŽƉƟŽŶƐĂŶĚŽƉƟŽŶƐLJĞƚƚŽďĞ ĂĚũƵƐƚŵĞŶƚ ƚŽ ƚŚĞ ĞdžĞƌĐŝƐĞ ƉƌŝĐĞ ďLJ ƌĞĚƵĐŝŶŐ ŝƚ ŝŶ ŐƌĂŶƚĞĚĨƌŽŵϰϯ͕ϯϭ͕Ϭϯϰ;&ŽƌƚLJƚŚƌĞĞůĂĐƐƚŚŝƌƚLJ ĐĂƐĞŽĨ^ĞƌŝĞƐ/ƚŽ`ϮϬϯͬͲ^ĞƌŝĞƐ//ƚŽ`ϮϮϱͬͲĂŶĚ ŽŶĞƚŚŽƵƐĂŶĚƚŚŝƌƚLJĨŽƵƌͿƚŽϮ͕ϱϵ͕ϴϲ͕ϮϬϰ;dǁŽ ^ĞƌŝĞƐ///ƚŽ`ϯϲϰͬͲƉĞƌĞƋƵŝƚLJƐŚĂƌĞŽĨ`ϭͬͲĞĂĐŚ ĐƌŽƌĞ ĮŌLJ ŶŝŶĞ ůĂĐƐ ĞŝŐŚƚLJ Ɛŝdž ƚŚŽƵƐĂŶĚ ƚǁŽ ĂŶĚƚŽƚŚĞŶƵŵďĞƌŽĨŽƉƟŽŶƐďLJŝŶĐƌĞĂƐŝŶŐŝƚϱƟŵĞƐ ŚƵŶĚƌĞĚĨŽƵƌͿ͖ ƚŚĞŽƌŝŐŝŶĂůŐƌĂŶƚĐŽŶƐĞƋƵĞŶƚƚŽǁŚŝĐŚƚŚĞŶƵŵďĞƌ ďͿ dŚĞƉƌŝĐĞŽĨƵŶĞdžĞƌĐŝƐĞĚŽƉƟŽŶƐǁĂƐƌĞĚƵĐĞĚ ŽĨŵĂdžŝŵƵŵŽƉƟŽŶƐƚŚĂƚĐŽƵůĚďĞŝƐƐƵĞĚƵŶĚĞƌƚŚĞ ŝŶĐĂƐĞŽĨ^ĞƌŝĞƐ/ƚŽ`ϯϰͬͲ͕^ĞƌŝĞƐ//ƚŽ`ϯϴͬͲ ŵƉůŽLJĞĞƐ ^ƚŽĐŬ KƉƟŽŶ ^ĐŚĞŵĞͲϮϬϬϱ ŝŶĐƌĞĂƐĞĚ ĂŶĚ ^ĞƌŝĞƐ /// ƚŽ ` ϲϭͬͲ ƉĞƌ ĞƋƵŝƚLJ ƐŚĂƌĞ ŽĨ ƚŽ ϱϱ͕ϬϬ͕ϬϬϬ ;&ŝŌLJ ĮǀĞ ůĂĐƐͿ ΀ŽƌŝŐŝŶĂůůLJ ϭϭ͕ϬϬ͕ϬϬϬ `ϭͬͲĞĂĐŚ͘ ;ůĞǀĞŶůĂĐƐͿ΁     /ŶͲƉƌŝŶĐŝƉůĞ ĂƉƉƌŽǀĂů ĨŽƌ ůŝƐƟŶŐ ŽĨ ĂĚĚŝƟŽŶĂů  dŚĞƌĞĂŌĞƌ͕ƚŚĞĨŽůůŽǁŝŶŐĂůůŽƚŵĞŶƚƐŽĨĞƋƵŝƚLJƐŚĂƌĞƐ Ϯ͕ϭϲ͕ϱϱ͕ϭϳϬ ;dǁŽ ĐƌŽƌĞ ƐŝdžƚĞĞŶ ůĂĐƐ ĮŌLJ ǁĞƌĞ ŵĂĚĞ ƵŶĚĞƌ ^K^ͲϮϬϬϱ ŽŶ ƚŚĞ ĞdžĞƌĐŝƐĞ ŽĨ ĮǀĞ ƚŚŽƵƐĂŶĚ ŽŶĞ ŚƵŶĚƌĞĚ  ƐĞǀĞŶƚLJͿ ĞƋƵŝƚLJ ŽƉƟŽŶƐ͗Ͳ ƐŚĂƌĞƐǁĞƌĞŽďƚĂŝŶĞĚĨƌŽŵE^ĂŶĚ^͘ ĂͿ ϲ͕ϵϭ͕ϯϰϯ;^ŝdžůĂĐƐŶŝŶĞƚLJŽŶĞƚŚŽƵƐĂŶĚƚŚƌĞĞ  dŚĞƌĞĂŌĞƌ͕ƚŚĞĨŽůůŽǁŝŶŐĂůůŽƚŵĞŶƚƐŽĨĞƋƵŝƚLJ ŚƵŶĚƌĞĚ ĨŽƌƚLJ ƚŚƌĞĞͿ ĞƋƵŝƚLJ ƐŚĂƌĞƐ ŽĨ ` ϭͬͲ ƐŚĂƌĞƐ ǁĞƌĞ ŵĂĚĞ ƵŶĚĞƌ ^K^ͲϮϬϬϱ ŽŶ ĞĂĐŚ ǁĞƌĞ ĂůůŽƩĞĚ ŽŶ ϭϲƚŚ :ƵŶĞ͕ ϮϬϬϴ ŽŶ ĞdžĞƌĐŝƐĞŽĨŽƉƟŽŶƐ͗Ͳ ĞdžĞƌĐŝƐĞ ŽĨ ŽƉƟŽŶƐ ŐƌĂŶƚĞĚ ƵŶĚĞƌ WĂƌƚ ϭ ŽĨ ^ĞƌŝĞƐ/ŽĨ^K^ͲϮϬϬϱ͖  ϰ͕ϱϮ͕Ϯϰϲ ;&ŽƵƌ ůĂĐƐ ĮŌLJ ƚǁŽ ƚŚŽƵƐĂŶĚ ƚǁŽ ŚƵŶĚƌĞĚ ĨŽƌƚLJ ƐŝdžͿ ĞƋƵŝƚLJ ƐŚĂƌĞƐ ŽĨ  ` ϭͬͲ ďͿ ϱϳ͕ϭϯϲ ;&ŝŌLJ ƐĞǀĞŶ ƚŚŽƵƐĂŶĚ ŽŶĞ ŚƵŶĚƌĞĚ ĞĂĐŚǁĞƌĞĂůůŽƩĞĚŽŶϯϬƚŚ:ĂŶƵĂƌLJ͕ϮϬϭϬŽŶ ƚŚŝƌƚLJ ƐŝdžͿ ĞƋƵŝƚLJ ƐŚĂƌĞƐ ŽĨ ` ϭͬͲ ĞĂĐŚ ǁĞƌĞ ĞdžĞƌĐŝƐĞ ŽĨ ŽƉƟŽŶƐ ŐƌĂŶƚĞĚ ƵŶĚĞƌ ƉĂƌƚ ϭ ŽĨ ĂůůŽƩĞĚ ŽŶ ϭϯƚŚ Ɖƌŝů͕ ϮϬϬϵ ŽŶ ĞdžĞƌĐŝƐĞ ŽĨ ^ĞƌŝĞƐ///ŽĨ^K^ͲϮϬϬϱ͘ ŽƉƟŽŶƐ ŐƌĂŶƚĞĚ ƵŶĚĞƌ WĂƌƚ ϭ ŽĨ ^ĞƌŝĞƐ // ŽĨ ^K^ͲϮϬϬϱ͖  Ϯ͕ϱϮ͕ϬϬϲ ;dǁŽ ůĂĐƐ ĮŌLJ ƚǁŽ ƚŚŽƵƐĂŶĚ ƐŝdžͿ ĞƋƵŝƚLJ ƐŚĂƌĞƐ ŽĨ ` ϭͬͲ ĞĂĐŚ ǁĞƌĞ ĂůůŽƩĞĚ ĐͿ ϰ͕ϮϬ͕ϰϴϳ ;&ŽƵƌ ůĂĐƐ ƚǁĞŶƚLJ ƚŚŽƵƐĂŶĚ ĨŽƵƌ ŽŶ ϭϯƚŚ  Ɖƌŝů͕ ϮϬϭϬ ŽŶ ĞdžĞƌĐŝƐĞ ŽĨ ŽƉƟŽŶƐ ŚƵŶĚƌĞĚ ĞŝŐŚƚLJ ƐĞǀĞŶͿ ĞƋƵŝƚLJ ƐŚĂƌĞƐ ŽĨ ŐƌĂŶƚĞĚƵŶĚĞƌƉĂƌƚϮŽĨ^ĞƌŝĞƐ//ŽĨ^K^ͲϮϬϬϱ͘ `ϭͬͲĞĂĐŚǁĞƌĞĂůůŽƩĞĚŽŶϮϭƐƚ:ƵůLJ͕ϮϬϬϵŽŶ ĞdžĞƌĐŝƐĞ ŽĨ ŽƉƟŽŶƐ ŐƌĂŶƚĞĚ ƵŶĚĞƌ WĂƌƚ Ϯ ŽĨ  Ϯϰ͕ϱϲ͕ϵϮϮ;dǁĞŶƚLJĨŽƵƌůĂĐƐĮŌLJ^ŝdžƚŚŽƵƐĂŶĚ ^ĞƌŝĞƐ/ŽĨ^K^ͲϮϬϬϱ͘ ŶŝŶĞ ŚƵŶĚƌĞĚ ƚǁĞŶƚLJ ƚǁŽͿ ĞƋƵŝƚLJ ƐŚĂƌĞƐ ŽĨ `ϭͬͲĞĂĐŚǁĞƌĞĂůůŽƩĞĚŽŶϮϯƌĚ:ƵŶĞ͕ϮϬϭϬ  dŚĞ ƌĞŵĂŝŶŝŶŐ ϰϯ͕ϯϭ͕Ϭϯϰ ;&ŽƌƚLJ ƚŚƌĞĞ ůĂĐƐ ŽŶĞdžĞƌĐŝƐĞŽĨŽƉƟŽŶƐŐƌĂŶƚĞĚƵŶĚĞƌƉĂƌƚϯŽĨ ƚŚŝƌƚLJ ŽŶĞ ƚŚŽƵƐĂŶĚ ƚŚŝƌƚLJ ĨŽƵƌͿ ĞƋƵŝƚLJ ^ĞƌŝĞƐ/ŽĨ^K^ͲϮϬϬϱ͘ ƐŚĂƌĞƐ ŽĨ ` ϭͬͲ ĞĂĐŚ ǁĞƌĞ ĂǀĂŝůĂďůĞ ĨŽƌ ĂůůŽƚŵĞŶƚƵŶĚĞƌ^K^ͲϮϬϬϱĂŌĞƌƚŚĞĂďŽǀĞϯ  ϯ͕Ϯϲ͕ϬϮϭ ;dŚƌĞĞ ůĂĐƐ ƚǁĞŶƚLJ ^ŝdž ƚŚŽƵƐĂŶĚ ĂůůŽƚŵĞŶƚƐ͘ ƚǁĞŶƚLJŽŶĞͿĞƋƵŝƚLJƐŚĂƌĞƐŽĨ`ϭͬͲĞĂĐŚǁĞƌĞ ĂůůŽƩĞĚŽŶϭƐƚ&ĞďƌƵĂƌLJ͕ϮϬϭϭŽŶĞdžĞƌĐŝƐĞŽĨ  KŶ ϰƚŚ ^ĞƉƚĞŵďĞƌ͕ϮϬϬϵ͕ ŝƐƐƵĞ ŽĨ ϱ ĞƋƵŝƚLJ ƐŚĂƌĞƐ ŽƉƟŽŶƐŐƌĂŶƚĞĚƵŶĚĞƌƉĂƌƚϮŽĨ^ĞƌŝĞƐ///ŽĨ ŽĨ ` ϭͬͲ ĞĂĐŚ ĂƐ ďŽŶƵƐ ƐŚĂƌĞƐ ŽŶ ĞĂĐŚ ĞdžŝƐƟŶŐ ^K^ͲϮϬϬϱ͘ ĞƋƵŝƚLJƐŚĂƌĞŽĨƚŚĞŽŵƉĂŶLJǁĂƐĂƉƉƌŽǀĞĚďLJƚŚĞ ƐŚĂƌĞŚŽůĚĞƌƐŝŶƚŚĞŝƌ'ĞŶĞƌĂůDĞĞƟŶŐĂŶĚŽŶϭϵƚŚ  Ϯ͕ϰϬ͕ϱϲϰ ;dǁŽ ůĂĐƐ ĨŽƌƚLJ ƚŚŽƵƐĂŶĚ ĮǀĞ ^ĞƉƚĞŵďĞƌ͕ϮϬϬϵ͕ĨƵůůLJƉĂŝĚͲƵƉďŽŶƵƐƐŚĂƌĞƐǁĞƌĞ ŚƵŶĚƌĞĚƐŝdžƚLJĨŽƵƌͿĞƋƵŝƚLJƐŚĂƌĞƐŽĨ`ϭͬͲĞĂĐŚ ĂůůŽƩĞĚ͘ ǁĞƌĞĂůůŽƩĞĚŽŶϭϰƚŚƉƌŝů͕ϮϬϭϭŽŶĞdžĞƌĐŝƐĞ ŽĨŽƉƟŽŶƐŐƌĂŶƚĞĚƵŶĚĞƌƉĂƌƚϯŽĨ^ĞƌŝĞƐ//ŽĨ  dŚĞƌĞĂŌĞƌ͕ ƉƵƌƐƵĂŶƚ ƚŽ ĐůĂƵƐĞ ϱ͘ϯ ;ĨͿ ŽĨ ^/ ^K^ͲϮϬϬϱ͘ ;ŵƉůŽLJĞĞƐ ^ƚŽĐŬ KƉƟŽŶ ^ĐŚĞŵĞ ĂŶĚ ŵƉůŽLJĞĞƐ ^ƚŽĐŬWƵƌĐŚĂƐĞ^ĐŚĞŵĞͿ'ƵŝĚĞůŝŶĞƐ͕ϭϵϵϵĂŶĚƉĂƌĂ  ϯ͕Ϯϰ͕ϮϮϯ ;dŚƌĞĞ ůĂĐƐ ƚǁĞŶƚLJ ĨŽƵƌ ƚŚŽƵƐĂŶĚ ϭϴŽĨƚŚĞŵƉůŽLJĞĞƐ^ƚŽĐŬKƉƟŽŶ^ĐŚĞŵĞͲϮϬϬϱŽĨ ƚǁŽŚƵŶĚƌĞĚƚǁĞŶƚLJƚŚƌĞĞͿĞƋƵŝƚLJƐŚĂƌĞƐŽĨ ƚŚĞŽŵƉĂŶLJ͕ƚŚĞŽŵƉĞŶƐĂƟŽŶŽŵŵŝƩĞĞŚĂƐ͕ŝŶ `ϭͬͲĞĂĐŚǁĞƌĞĂůůŽƩĞĚŽŶϭϮƚŚĞĐĞŵďĞƌ͕ ŝƚƐ ŵĞĞƟŶŐ ŚĞůĚ ŽŶ ϯϭƐƚ KĐƚŽďĞƌ͕ϮϬϬϵ ŵĂĚĞ ƚŚĞ ϮϬϭϭ ŽŶ ĞdžĞƌĐŝƐĞ ŽĨ ŽƉƟŽŶƐ ŐƌĂŶƚĞĚ ƵŶĚĞƌ ĨŽůůŽǁŝŶŐĂĚũƵƐƚŵĞŶƚƐ͗Ͳ  ƉĂƌƚϯŽĨ^ĞƌŝĞƐ///ŽĨ^K^ͲϮϬϬϱ͘

150 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

dŚĞĞƚĂŝůƐŽĨ^K^ͲϮϬϬϱĂƌĞĂƐƵŶĚĞƌ͗ WĂƌƟĐƵůĂƌƐ ESOS-2005 Series-I Series-II Series-III ϭ 'ƌĂŶƚWƌŝĐĞʹZƵƉĞĞƐ ϯϰ ϯϴ ϲϭ Ϯ 'ƌĂŶƚĂƚĞ ϮϲƚŚEŽǀĞŵďĞƌ͕ϮϬϬϱ ϮŶĚ^ĞƉƚĞŵďĞƌ͕ϮϬϬϲ ϮϳƚŚƉƌŝů͕ϮϬϬϳ ϯ sĞƐƟŶŐĐŽŵŵĞŶĐĞƐŽŶ ϮϲƚŚEŽǀĞŵďĞƌ͕ϮϬϬϳ ϮŶĚ^ĞƉƚĞŵďĞƌ͕ϮϬϬϴ ϮϳƚŚƉƌŝů͕ϮϬϬϵ ϰ sĞƐƟŶŐ^ĐŚĞĚƵůĞ ϱϬйŽĨŐƌĂŶƚŽŶϮϲƚŚ ϱϬйŽĨŐƌĂŶƚŽŶϮŶĚ ϱϬйŽĨŐƌĂŶƚŽŶϮϳƚŚ EŽǀĞŵďĞƌ͕ϮϬϬϳ͕ ^ĞƉƚĞŵďĞƌ͕ϮϬϬϴ͕ Ɖƌŝů͕ϮϬϬϵ͕ƐƵďƐĞƋƵĞŶƚ ƐƵďƐĞƋƵĞŶƚϮϱйŽĨŐƌĂŶƚ ƐƵďƐĞƋƵĞŶƚϮϱйŽĨŐƌĂŶƚ ϮϱйŽĨŐƌĂŶƚŽŶϮϳƚŚ ŽŶϮϲƚŚEŽǀĞŵďĞƌ͕ϮϬϬϴ ŽŶϮŶĚ^ĞƉƚĞŵďĞƌ͕ϮϬϬϵ Ɖƌŝů͕ϮϬϭϬĂŶĚďĂůĂŶĐĞ ĂŶĚďĂůĂŶĐĞϮϱйŽĨŐƌĂŶƚ ĂŶĚďĂůĂŶĐĞϮϱйŽĨŐƌĂŶƚ ϮϱйŽĨŐƌĂŶƚŽŶϮϳƚŚ ŽŶϮϲƚŚEŽǀĞŵďĞƌ͕ϮϬϬϵ ŽŶϮŶĚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϬ Ɖƌŝů͕ϮϬϭϭ ϱ KƉƟŽŶŐƌĂŶƚĞĚĂŶĚŽƵƚƐƚĂŶĚŝŶŐĂƚ ͲͲͲ ƚŚĞďĞŐŝŶŶŝŶŐŽĨƚŚĞLJĞĂƌ ϲ KƉƟŽŶŐƌĂŶƚĞĚĚƵƌŝŶŐƚŚĞLJĞĂƌ Ͳ Ͳ Ͳ ;ĚƵĞƚŽďŽŶƵƐƐŚĂƌĞƐͿ ϳ KƉƟŽŶůĂƉƐĞĚĂŶĚͬŽƌǁŝƚŚĚƌĂǁŶ ͲͲͲ ĚƵƌŝŶŐƚŚĞƉĞƌŝŽĚ ϴ KƉƟŽŶĞdžĞƌĐŝƐĞĚĚƵƌŝŶŐƚŚĞLJĞĂƌ ͲͲͲ ĂŐĂŝŶƐƚǁŚŝĐŚƐŚĂƌĞƐǁĞƌĞĂůůŽƩĞĚ ϵ KƉƟŽŶƐŐƌĂŶƚĞĚĂŶĚŽƵƚƐƚĂŶĚŝŶŐĂƚ ͲͲͲ ƚŚĞĞŶĚŽĨƚŚĞLJĞĂƌŽĨǁŚŝĐŚ ͲKƉƟŽŶƐǀĞƐƚĞĚ ͲKƉƟŽŶƐLJĞƚƚŽďĞǀĞƐƚ

;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 4. RESERVES AND SURPLUS a) ^ĂůĞƐdĂdž^ƵďƐŝĚLJͬĂƉŝƚĂůZĞƐĞƌǀĞ ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ Ϯϯϳ͘ϲϳ ϭϵϴ͘ϳϱ ĚĚ͗ƵƌŝŶŐƚŚĞLJĞĂƌ ϯϬ͘ϲϯ ϯϴ͘ϵϮ ůŽƐŝŶŐĂůĂŶĐĞ 268.30 237.67 KŶĞŽĨƚŚĞŽŵƉĂŶLJ͛ƐĞdžƉĂŶƐŝŽŶƵŶŝƚƐĂƚZĂŝŐĂƌŚ;ŚŚĂƫƐŐĂƌŚͿŝƐĞůŝŐŝďůĞĨŽƌƐĂůĞƐƚĂdžĞdžĞŵƉƟŽŶŽǁŝŶŐƚŽŝƚƐŝŶǀĞƐƚŵĞŶƚ ŝŶĐĂƉŝƚĂůĂƐƐĞƚƐƵŶĚĞƌƚŚĞ^ƚĂƚĞŝŶĚƵƐƚƌŝĂůƉŽůŝĐLJǁŚŝĐŚĂŝŵƐƚŽǁĂƌĚƐƚŚĞŽďũĞĐƟǀĞŽĨŝŶĚƵƐƚƌŝĂůŝƐĂƟŽŶŽĨƚŚĞ^ƚĂƚĞĂŶĚ ĚĞǀĞůŽƉŵĞŶƚŽĨďĂĐŬǁĂƌĚĂƌĞĂƐ͘dŚĞƉĞƌŝŽĚŽĨĞdžĞŵƉƟŽŶŝƐůŝŶŬĞĚƚŽƚŚĞƋƵĂŶƚƵŵŽĨŝŶǀĞƐƚŵĞŶƚ͘dŚĞŽŵƉĂŶLJŚĂƐďĞĞŶ ĂĚǀŝƐĞĚƚŚĂƚƚŚĞĞůĞŵĞŶƚŽĨƐĂůĞƐƚĂdžŝŶĐůƵĚĞĚŝŶƚŚĞƐĂůĞƐƉƌŝĐĞŽĨƉƌŽĚƵĐƚƐƐŽůĚŽƵƚŽĨƚŚŝƐhŶŝƚŝƐŝŶƚŚĞŶĂƚƵƌĞŽĨƐĂůĞƐ ƚĂdžƐƵďƐŝĚLJŐƌĂŶƚĞĚďLJƚŚĞ^ƚĂƚĞ'ŽǀĞƌŶŵĞŶƚ͘ĐĐŽƌĚŝŶŐůLJ͕ƚŚĞƐĂŵĞĂŵŽƵŶƟŶŐƚŽ`ϯϬ͘ϲϯĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϯϴ͘ϵϮ ĐƌŽƌĞͿŚĂƐďĞĞŶĐƌĞĚŝƚĞĚĚƵƌŝŶŐƚŚĞLJĞĂƌƚŽ^ĂůĞƐdĂdž^ƵďƐŝĚLJZĞƐĞƌǀĞĐĐŽƵŶƚ͘dŚĞĐƵŵƵůĂƟǀĞĂŵŽƵŶƚĐƌĞĚŝƚĞĚƚŽ^ĂůĞƐdĂdž ^ƵďƐŝĚLJZĞƐĞƌǀĞĂĐĐŽƵŶƚƵƉƚŽϯϭƐƚDĂƌĐŚ͕ϮϬϭϯŝƐ`Ϯϲϲ͘ϳϰĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`Ϯϯϲ͘ϭϭĐƌŽƌĞͿ͘ b) ĂƉŝƚĂůZĞĚĞŵƉƟŽŶZĞƐĞƌǀĞ ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ ϳϬ͘ϬϬ ϳϬ͘ϬϬ ĚĚ͗ƵƌŝŶŐƚŚĞLJĞĂƌ Ͳ Ͳ ůŽƐŝŶŐĂůĂŶĐĞ 70.00 70.00 c) ^ĞĐƵƌŝƟĞƐWƌĞŵŝƵŵZĞƐĞƌǀĞ ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ ϭϮϮ͘ϳϮ ϭϭϴ͘ϵϯ ĚĚ͗ĚĚŝƟŽŶƐĚƵƌŝŶŐƚŚĞLJĞĂƌŽŶĂĐĐŽƵŶƚŽĨŵƉůŽLJĞĞƐ͛ƐƚŽĐŬŽƉƟŽŶ Ͳ Ϯ͘ϴϯ ƐĐŚĞŵĞƐ ĚĚ͗dƌĂŶƐĨĞƌƌĞĚĨƌŽŵƐŚĂƌĞŽƉƟŽŶƐŽƵƚƐƚĂŶĚŝŶŐĂĐĐŽƵŶƚ Ͳ Ϭ͘ϵϲ ůŽƐŝŶŐĂůĂŶĐĞ 122.72 122.72 EŽƚĞŶŽ͘Ͳϯ;ĨͿ

151 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 4. Z^Zs^E^hZW>h^ΈKEd͘Ή d) ĞďĞŶƚƵƌĞZĞĚĞŵƉƟŽŶZĞƐĞƌǀĞ ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ Ϯϱϰ͘ϬϬ ϭϱϭ͘ϬϬ ĚĚ͗dƌĂŶƐĨĞƌƌĞĚĨƌŽŵ^ƚĂƚĞŵĞŶƚŽĨWƌŽĮƚĂŶĚ>ŽƐƐ ϭϮϳ͘ϬϬ ϭϬϯ͘ϬϬ ůŽƐŝŶŐĂůĂŶĐĞ 381.00 254.00 e) ^ŚĂƌĞKƉƟŽŶKƵƚƐƚĂŶĚŝŶŐĐĐŽƵŶƚ ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ Ͳ ϭ͘ϳϵ >ĞƐƐ͗dƌĂŶƐĨĞƌƌĞĚƚŽƐĞĐƵƌŝƟĞƐƉƌĞŵŝƵŵƌĞƐĞƌǀĞ Ͳ ;Ϭ͘ϵϲͿ >ĞƐƐ͗ĞĨĞƌƌĞĚĞŵƉůŽLJĞĞƐƚŽĐŬĐŽŵƉĞŶƐĂƟŽŶ Ͳ ;Ϭ͘ϴϯͿ ůŽƐŝŶŐĂůĂŶĐĞ - - f) Other Reserves ĞŶƚƌĂůͬ^ƚĂƚĞ^ƵďƐŝĚLJZĞƐĞƌǀĞ ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ Ϭ͘ϭϮ Ϭ͘ϭϮ >ĞƐƐ͗dƌĂŶƐĨĞƌƚŽ'ĞŶĞƌĂůƌĞƐĞƌǀĞ Ͳ Ͳ ůŽƐŝŶŐĂůĂŶĐĞ 0.12 0.12 &ŽƌĞŝŐŶƵƌƌĞŶĐLJdƌĂŶƐůĂƟŽŶZĞƐĞƌǀĞ ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ ϭϯϵ͘ϵϳ ;ϭϳ͘ϬϵͿ ĚĚ͗ƵƌŝŶŐƚŚĞLJĞĂƌ ϯϮ͘ϯϳ ϭϱϳ͘Ϭϲ ůŽƐŝŶŐĂůĂŶĐĞ 172.34 139.97 General Reserve ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ ϭ͕ϭϴϬ͘ϰϬ ϵϲϬ͘ϰϬ ĚĚ͗dƌĂŶƐĨĞƌƌĞĚĨƌŽŵƐƚĂƚĞŵĞŶƚŽĨƉƌŽĮƚĂŶĚůŽƐƐ ϭϳϱ͘ϬϬ ϮϮϬ͘ϬϬ ůŽƐŝŶŐĂůĂŶĐĞ 1,355.40 1,180.40 g) ^ƵƌƉůƵƐŝŶ^ƚĂƚĞŵĞŶƚŽĨWƌŽĮƚĂŶĚ>ŽƐƐ ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ ϴ͕ϳϰϳ͘Ϭϱ ϳ͕ϭϭϮ͘Ϭϭ ĚĚ͗WƌŽĮƚĨŽƌƚŚĞLJĞĂƌ ϭ͕ϱϵϮ͘ϱϱ Ϯ͕ϭϭϬ͘ϲϱ >ĞƐƐ͗ƉƉƌŽƉƌŝĂƟŽŶƐ dƌĂŶƐĨĞƌƚŽĞďĞŶƚƵƌĞZĞĚĞŵƉƟŽŶZĞƐĞƌǀĞ ϭϮϳ͘ϬϬ ϭϬϯ͘ϬϬ dƌĂŶƐĨĞƌƚŽ'ĞŶĞƌĂůZĞƐĞƌǀĞ ϭϳϱ͘ϬϬ ϮϮϬ͘ϬϬ WƌŽƉŽƐĞĚĚŝǀŝĚĞŶĚŽŶĞƋƵŝƚLJƐŚĂƌĞƐ;ĂŵŽƵŶƚƉĞƌƐŚĂƌĞ ϭϰϵ͘ϱϳ ϭϰϵ͘ϰϲ `ϭ͘ϲϬ͕ƉƌĞǀŝŽƵƐLJĞĂƌ`ϭ͘ϲϬͿ ŽƌƉŽƌĂƚĞƚĂdžŽŶƉƌŽƉŽƐĞĚĚŝǀŝĚĞŶĚ ϯ͘ϯϮ ϯ͘ϭϱ EĞƚ^ƵƌƉůƵƐŝŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨWƌŽĮƚĂŶĚ>ŽƐƐ 9,884.71 8,747.05 Total Reserves & Surplus 12,254.59 10,751.93 dŚĞŽŵƉĂŶLJŚĂƐŵĂĚĞĂƉƌŽǀŝƐŝŽŶŽĨ`ϯ͘ϯϮĐƌŽƌĞŶĞƚŽĨƌĞǀĞƌƐĂůŽĨ`Ŷŝů;WƌĞǀŝŽƵƐLJĞĂƌ`ϯ͘ϭϱĐƌŽƌĞŶĞƚŽĨƌĞǀĞƌƐĂů ŽĨ`Ϭ͘ϬϮĐƌŽƌĞͿĨŽƌŽƌƉŽƌĂƚĞĚŝǀŝĚĞŶĚƚĂdžŽŶƚŚĞĂŵŽƵŶƚŽĨĚŝǀŝĚĞŶĚƉƌŽƉŽƐĞĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ĂŌĞƌĐŽŶƐŝĚĞƌŝŶŐƚŚĞƐĞƚͲŽīŽĨŝŶƚĞƌŝŵĚŝǀŝĚĞŶĚĚĞĐůĂƌĞĚďLJĂƐƵďƐŝĚŝĂƌLJĐŽŵƉĂŶLJĨŽƌƚŚĞƐĂŵĞĮŶĂŶĐŝĂůLJĞĂƌ͕ĂƐƉĞƌƚŚĞ ƉƌŽǀŝƐŝŽŶƐŽĨƐĞĐƟŽŶϭϭϱͲKŽĨƚŚĞ/ŶĐŽŵĞdĂdžĐƚ͕ϭϵϲϭ͘ /ŶƚŚĞLJĞĂƌϮϬϭϬͲϭϭ͕ĚŝǀŝĚĞŶĚƉƌŽƉŽƐĞĚƌĞůĂƟŶŐƚŽƚŚĞƐŚĂƌĞƐƵŶĚĞƌ^K^ǁĂƐŵĂĚĞŽŶƚŚĞďĂƐŝƐŽĨŽƉƟŽŶƐǀĞƐƚĞĚďƵƚ ŶŽƚĞdžĞƌĐŝƐĞĚƟůůƚŚĞĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͘WƌŽǀŝƐŝŽŶŵĂĚĞŝŶƌĞƐƉĞĐƚŽĨŽƉƟŽŶƐůĂƉƐĞĚĂŶĚŶŽƚĞdžĞƌĐŝƐĞĚŝŶƚŚĞLJĞĂƌ ϮϬϭϭͲϭϮŚĂĚďĞĞŶĂĚũƵƐƚĞĚǁŝƚŚƚŚĞĚŝǀŝĚĞŶĚƉƌŽƉŽƐĞĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚŽŶϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ͘

152 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

;`ŝŶƌŽƌĞͿ EŽŶͲƵƌƌĞŶƚWŽƌƟŽŶ ƵƌƌĞŶƚWŽƌƟŽŶ WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 31st March, 2013 31st March, 2012 5. >KE'ͳdZDKZZKt/E'^ a) Secured Long-term Borrowings i) Debentures ϵ͘ϴϬй^ĞĐƵƌĞĚZĞĚĞĞŵĂďůĞEŽŶ ϭ͕ϬϬϬ͘ϬϬ ϭ͕ϬϬϬ͘ϬϬ Ͳ Ͳ ŽŶǀĞƌƟďůĞĞďĞŶƚƵƌĞƐŽĨ ` ϭϬ͕ϬϬ͕ϬϬϬĞĂĐŚ ;WƌŝǀĂƚĞůLJƉůĂĐĞĚŝŶŝƟĂůůLJǁŝƚŚ>ŝĨĞ /ŶƐƵƌĂŶĐĞŽƌƉŽƌĂƟŽŶŽĨ/ŶĚŝĂͿ ϵ͘ϴϬй^ĞĐƵƌĞĚZĞĚĞĞŵĂďůĞEŽŶ ϲϮ͘ϬϬ ϲϮ͘ϬϬ Ͳ Ͳ ŽŶǀĞƌƟďůĞĞďĞŶƚƵƌĞƐŽĨ `ϭϬ͕ϬϬ͕ϬϬϬĞĂĐŚ ;WƌŝǀĂƚĞůLJƉůĂĐĞĚŝŶŝƟĂůůLJǁŝƚŚ^/ >ŝĨĞ/ŶƐƵƌĂŶĐĞŽŵƉĂŶLJ>ŝŵŝƚĞĚͿ ϴ͘ϱϬй^ĞĐƵƌĞĚZĞĚĞĞŵĂďůĞEŽŶ Ϯϱ͘ϬϬ Ϯϱ͘ϬϬ Ͳ Ͳ ŽŶǀĞƌƟďůĞĞďĞŶƚƵƌĞƐŽĨ `ϭϬ͕ϬϬ͕ϬϬϬĞĂĐŚ ;WƌŝǀĂƚĞůLJƉůĂĐĞĚŝŶŝƟĂůůLJǁŝƚŚ ///>ŽŵďĂƌĚ'ĞŶĞƌĂů/ŶƐƵƌĂŶĐĞ ŽŵƉĂŶLJ>ŝŵŝƚĞĚͿ ϴ͘ϱϬй^ĞĐƵƌĞĚZĞĚĞĞŵĂďůĞEŽŶ ϳϱ͘ϬϬ ϳϱ͘ϬϬ Ͳ Ͳ ŽŶǀĞƌƟďůĞĞďĞŶƚƵƌĞƐŽĨ `ϭϬ͕ϬϬ͕ϬϬϬĞĂĐŚ ;WƌŝǀĂƚĞůLJƉůĂĐĞĚŝŶŝƟĂůůLJǁŝƚŚ ///WƌƵĚĞŶƟĂů>ŝĨĞ/ŶƐƵƌĂŶĐĞ ŽŵƉĂŶLJ>ŝŵŝƚĞĚͿ ϵ͘ϴϬй^ĞĐƵƌĞĚZĞĚĞĞŵĂďůĞEŽŶ ϱϬϬ͘ϬϬ ϱϬϬ͘ϬϬ Ͳ Ͳ ŽŶǀĞƌƟďůĞĞďĞŶƚƵƌĞƐŽĨ `ϭϬ͕ϬϬ͕ϬϬϬĞĂĐŚ ;WƌŝǀĂƚĞůLJƉůĂĐĞĚŝŶŝƟĂůůLJǁŝƚŚ>ŝĨĞ /ŶƐƵƌĂŶĐĞŽƌƉŽƌĂƟŽŶŽĨ/ŶĚŝĂͿ 1,662.00 1,662.00 - - ii) dĞƌŵ>ŽĂŶƐĨƌŽŵĂŶŬƐ ϴ͕ϱϲϰ͘Ϯϭ ϰ͕ϲϵϲ͘ϲϵ ϴϱϬ͘ϴϬ ϯϭϲ͘ϵϳ iii) KƚŚĞƌ>ŽĂŶƐĨƌŽŵĂŶŬƐ ϭϰϵ͘ϵϮ ϭϳϳ͘ϯϮ Ͳ Ͳ 8,714.13 4,874.01 850.80 316.97 Secured Long-term Borrowings 10,376.13 6,536.01 850.80 316.97

153 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

DEBENTURES ƵŐƵƐƚ͕ ϮϬϬϵͿ͕ ` ϴϬ ĐƌŽƌĞ ;ϴƚŚ ^ĞƉƚĞŵďĞƌ͕ ϮϬϬϵͿ͕ ` ` ŝͿ ĞďĞŶƚƵƌĞƐ  ŽĨ ` ϭ͕ϬϬϬ ĐƌŽƌĞ ƉůĂĐĞĚ ŝŶŝƟĂůůLJ ǁŝƚŚ >ŝĨĞ ϴϬĐƌŽƌĞ;ϴƚŚKĐƚŽďĞƌ͕ϮϬϬϵͿ͕ ϴϬĐƌŽƌĞ;ϵƚŚEŽǀĞŵďĞƌ͕ ` ` /ŶƐƵƌĂŶĐĞŽƌƉŽƌĂƟŽŶŽĨ/ŶĚŝĂŽŶƉƌŝǀĂƚĞƉůĂĐĞŵĞŶƚďĂƐŝƐ ϮϬϬϵͿ͕ ϴϬĐƌŽƌĞ;ϴƚŚĞĐĞŵďĞƌ͕ϮϬϬϵͿĂŶĚ ϴϬĐƌŽƌĞ;ϴƚŚ ĂƌĞ ƌĞĚĞĞŵĂďůĞ Ăƚ ƉĂƌ ŝŶ Ϯ ĞƋƵĂů ĂŶŶƵĂů ŝŶƐƚĂůŵĞŶƚƐ Ăƚ :ĂŶƵĂƌLJ͕ϮϬϭϬͿ͘dŚĞĚĞďĞŶƚƵƌĞƐĂƌĞƐĞĐƵƌĞĚŽŶƉĂƌŝͲƉĂƐƐƵ ƚŚĞĞŶĚŽĨϵ͘ϱĂŶĚϭϬ͘ϱLJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞŽĨƌĞƐƉĞĐƟǀĞ ĐŚĂƌŐĞďĂƐŝƐďLJǁĂLJŽĨŵŽƌƚŐĂŐĞŽĨŝŵŵŽǀĂďůĞƉƌŽƉĞƌƟĞƐ ĂůůŽƚŵĞŶƚƐ ŝ͘Ğ͘ ` ϭϬϬ ĐƌŽƌĞ ;ϭϮƚŚ KĐƚŽďĞƌ͕ ϮϬϬϵͿ͕ ĂŶĚŚLJƉŽƚŚĞĐĂƟŽŶŽĨŵŽǀĂďůĞĮdžĞĚĂƐƐĞƚƐŽĨƚŚĞŽŵƉĂŶLJ ` ϭϱϬ ĐƌŽƌĞ ;ϮϮŶĚ KĐƚŽďĞƌ͕ ϮϬϬϵͿ͕ ` ϭϱϬ ĐƌŽƌĞ ;ϮϰƚŚ ŝŶĨĂǀŽƵƌŽĨƚŚĞĞďĞŶƚƵƌĞdƌƵƐƚĞĞƐ͘  EŽǀĞŵďĞƌ͕ϮϬϬϵͿ͕ ` ϭϱϬ ĐƌŽƌĞ ;ϮϰƚŚ ĞĐĞŵďĞƌ͕ϮϬϬϵͿ͕ ` ϭϱϬĐƌŽƌĞ;ϮϱƚŚ:ĂŶƵĂƌLJ͕ϮϬϭϬͿ͕`ϭϱϬĐƌŽƌĞ;ϭϵƚŚ&ĞďƌƵĂƌLJ͕ TERM LOANS ϮϬϭϬͿĂŶĚ`ϭϱϬĐƌŽƌĞ;ϮϲƚŚDĂƌĐŚ͕ϮϬϭϬͿ͘dŚĞĚĞďĞŶƚƵƌĞƐ ^ĞĐƵƌŝƚLJ ĂƌĞƐĞĐƵƌĞĚŽŶƉĂƌŝͲƉĂƐƐƵĐŚĂƌŐĞďĂƐŝƐďLJǁĂLJŽĨŵŽƌƚŐĂŐĞ ŝͿ >ŽĂŶƐŽĨ`ϵϳ͘ϵϴĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭϳϲ͘ϱϰĐƌŽƌĞͿĂƌĞ ŽĨ ŝŵŵŽǀĂďůĞ ƉƌŽƉĞƌƟĞƐ ĂŶĚ ŚLJƉŽƚŚĞĐĂƟŽŶ ŽĨ ŵŽǀĂďůĞ ƐĞĐƵƌĞĚďLJĞdžĐůƵƐŝǀĞĐŚĂƌŐĞŽŶĮdžĞĚĂƐƐĞƚƐĐƌĞĂƚĞĚƵŶĚĞƌ ĮdžĞĚĂƐƐĞƚƐĐƌĞĂƚĞĚͬƚŽďĞĐƌĞĂƚĞĚŽŶƚŚĞϲdžϭϯϱDtWŽǁĞƌ ^ƚĞĞůĞdžƉĂŶƐŝŽŶƉƌŽũĞĐƚĂƚZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ͖ WůĂŶƚWƌŽũĞĐƚĂƚŶŐƵů͕KĚŝƐŚĂŝŶĨĂǀŽƵƌŽĨƚŚĞĞďĞŶƚƵƌĞ dƌƵƐƚĞĞƐ͘ ŝŝͿ >ŽĂŶƐŽĨ`ϭϬϰ͘ϬϰĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭϱϬ͘ϰϬĐƌŽƌĞͿĂƌĞ ƐĞĐƵƌĞĚďLJĞdžĐůƵƐŝǀĞĐŚĂƌŐĞŽŶĮdžĞĚĂƐƐĞƚƐĐƌĞĂƚĞĚƵŶĚĞƌ ŝŝͿ ĞďĞŶƚƵƌĞƐƉůĂĐĞĚŝŶŝƟĂůůLJǁŝƚŚ^/>ŝĨĞ/ŶƐƵƌĂŶĐĞŽŵƉĂŶLJ WůĂƚĞDŝůůƉƌŽũĞĐƚĂƚZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ͖ >ŝŵŝƚĞĚŽŶƉƌŝǀĂƚĞƉůĂĐĞŵĞŶƚďĂƐŝƐĂƌĞƌĞĚĞĞŵĂďůĞĂƚƉĂƌŝŶ ϱĞƋƵĂůĂŶŶƵĂůŝŶƐƚĂůŵĞŶƚƐĐŽŵŵĞŶĐŝŶŐĨƌŽŵƚŚĞĞŶĚŽĨϴ ŝŝŝͿ >ŽĂŶƐŽĨ`ϰϮ͘ϴϲĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϳϳ͘ϭϰĐƌŽƌĞͿĂƌĞ LJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞŽĨĂůůŽƚŵĞŶƚŝ͘Ğ͘ϮϵƚŚĞĐĞŵďĞƌ͕ϮϬϬϵ͘ ƐĞĐƵƌĞĚďLJĞdžĐůƵƐŝǀĞĐŚĂƌŐĞŽŶĮdžĞĚĂƐƐĞƚƐĐƌĞĂƚĞĚƵŶĚĞƌ dŚĞ ĚĞďĞŶƚƵƌĞƐ ĂƌĞ ƐĞĐƵƌĞĚ ŽŶ ƉĂƌŝ ƉĂƐƐƵ ďĂƐŝƐ ďLJ ǁĂLJ ϯdžϮϱDtWŽǁĞƌWůĂŶƚĂƚZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ͖ ŽĨ ŵŽƌƚŐĂŐĞ ŽĨ ŝŵŵŽǀĂďůĞ ƉƌŽƉĞƌƟĞƐ ĂŶĚ ŚLJƉŽƚŚĞĐĂƟŽŶ ŝǀͿ >ŽĂŶƐŽĨ`Ϯϳϵϵ͘ϰϬĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`EŝůͿĂƌĞƐĞĐƵƌĞĚ ŽĨ ŵŽǀĂďůĞ ĂƐƐĞƚƐ ĐƌĞĂƚĞĚͬƚŽ ďĞ ĐƌĞĂƚĞĚ ŽŶ ƚŚĞ ϲdžϭϯϱ ďLJĞdžĐůƵƐŝǀĞĐŚĂƌŐĞŽŶĮdžĞĚĂƐƐĞƚƐĐƌĞĂƚĞĚͬƚŽďĞĐƌĞĂƚĞĚ DtWŽǁĞƌWůĂŶƚWƌŽũĞĐƚĂƚŶŐƵů͕KĚŝƐŚĂŝŶĨĂǀŽƵƌŽĨƚŚĞ ƵŶĚĞƌƚŚĞZ/ƉƌŽũĞĐƚĂƚŶŐƵů͕KĚŝƐŚĂ͖ ĞďĞŶƚƵƌĞdƌƵƐƚĞĞƐ͘    ǀͿ >ŽĂŶƐŽĨ`ϲϬϵ͘ϱϵĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϲϵϴ͘ϰϳĐƌŽƌĞͿĂƌĞ ŝŝŝͿ ĞďĞŶƚƵƌĞƐ  ƉůĂĐĞĚ ŝŶŝƟĂůůLJ ǁŝƚŚ /// >ŽŵďĂƌĚ 'ĞŶĞƌĂů ƐĞĐƵƌĞĚďLJĞdžĐůƵƐŝǀĞĐŚĂƌŐĞŽŶĮdžĞĚĂƐƐĞƚƐĐƌĞĂƚĞĚƵŶĚĞƌ /ŶƐƵƌĂŶĐĞ ŽŵƉĂŶLJ >ŝŵŝƚĞĚ ŽŶ ƉƌŝǀĂƚĞ ƉůĂĐĞŵĞŶƚ ďĂƐŝƐ ϮyϭϯϱDtWŽǁĞƌWůĂŶƚ;WŚĂƐĞͲϭͿĂƚŽŶŐĂŵĂƵŚĂ͕ZĂŝŐĂƌŚ͕ ĂƌĞƌĞĚĞĞŵĂďůĞĂƚƉĂƌĂƚƚŚĞĞŶĚŽĨϱLJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞ ŚŚĂƫƐŐĂƌŚ͖ ŽĨ ĂůůŽƚŵĞŶƚ ŝ͘Ğ͘ ϯƌĚ ĞĐĞŵďĞƌ͕ ϮϬϬϵ͘ dŚĞ ĚĞďĞŶƚƵƌĞƐ ĂƌĞ ƐĞĐƵƌĞĚ ŽŶ ƉĂƌŝͲƉĂƐƐƵ ďĂƐŝƐ ďLJ ǁĂLJ ŽĨ ŵŽƌƚŐĂŐĞ ŽĨ ǀŝͿ >ŽĂŶƐ ŽĨ ` ϲϴϬ͘Ϯϱ ĐƌŽƌĞ ;WƌĞǀŝŽƵƐ LJĞĂƌ ` ϰϱϬ͘ϬϬ ĐƌŽƌĞͿ ŝŵŵŽǀĂďůĞƉƌŽƉĞƌƟĞƐĂŶĚŚLJƉŽƚŚĞĐĂƟŽŶŽĨŵŽǀĂďůĞĮdžĞĚ ĂƌĞ ƐĞĐƵƌĞĚ ďLJ ĞdžĐůƵƐŝǀĞ ĐŚĂƌŐĞ ŽŶ ĮdžĞĚ ĂƐƐĞƚƐ ĐƌĞĂƚĞĚͬ ĂƐƐĞƚƐŽĨƚŚĞŽŵƉĂŶLJŝŶĨĂǀŽƵƌŽĨƚŚĞĞďĞŶƚƵƌĞdƌƵƐƚĞĞƐ͘ ƚŽďĞĐƌĞĂƚĞĚƵŶĚĞƌϮyϭϯϱDtWŽǁĞƌWůĂŶƚ;WŚĂƐĞͲϮͿĂƚ ŽŶŐĂŵĂƵŚĂ͕ZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ͖ ŝǀͿ ĞďĞŶƚƵƌĞƐ  ƉůĂĐĞĚ ŝŶŝƟĂůůLJ ǁŝƚŚ /// WƌƵĚĞŶƟĂů >ŝĨĞ /ŶƐƵƌĂŶĐĞ ŽŵƉĂŶLJ >ŝŵŝƚĞĚ ŽŶ ƉƌŝǀĂƚĞ ƉůĂĐĞŵĞŶƚ ďĂƐŝƐ ǀŝŝͿ >ŽĂŶƐŽĨ`ϯ͕ϭϱϰ͘ϱϱĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭ͕ϴϰϭ͘ϭϬĐƌŽƌĞͿ ĂƌĞƌĞĚĞĞŵĂďůĞĂƚƉĂƌĂƚƚŚĞĞŶĚŽĨϱLJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞ ĂƌĞƐĞĐƵƌĞĚďLJĞdžĐůƵƐŝǀĞĐŚĂƌŐĞŽŶĮdžĞĚĂƐƐĞƚƐĐƌĞĂƚĞĚͬƚŽ ŽĨ ĂůůŽƚŵĞŶƚ ŝ͘Ğ͘ ϯƌĚ ĞĐĞŵďĞƌ͕ ϮϬϬϵ͘ dŚĞ ĚĞďĞŶƚƵƌĞƐ ďĞĐƌĞĂƚĞĚƵŶĚĞƌϭ͘ϲDdW/ŶƚĞŐƌĂƚĞĚ^ƚĞĞůWůĂŶƚĂŶĚϭ͘ϱ ĂƌĞ ƐĞĐƵƌĞĚ ŽŶ ƉĂƌŝͲƉĂƐƐƵ ďĂƐŝƐ ďLJ ǁĂLJ ŽĨ ŵŽƌƚŐĂŐĞ ŽĨ DdWWůĂƚĞDŝůůƉƌŽũĞĐƚĂƚŶŐƵů͕KĚŝƐŚĂ͖ ŝŵŵŽǀĂďůĞƉƌŽƉĞƌƟĞƐĂŶĚŚLJƉŽƚŚĞĐĂƟŽŶŽĨŵŽǀĂďůĞĮdžĞĚ ǀŝŝŝͿ >ŽĂŶƐŽĨ`ϭ͕ϲϵϮ͘ϮϬĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭ͕ϯϳϬ͘ϬϬĐƌŽƌĞͿ ĂƐƐĞƚƐŽĨƚŚĞŽŵƉĂŶLJŝŶĨĂǀŽƵƌŽĨƚŚĞĞďĞŶƚƵƌĞdƌƵƐƚĞĞƐ͘ ĂƌĞ ƐĞĐƵƌĞĚͬƚŽ ďĞ ƐĞĐƵƌĞĚ ďLJ ĞdžĐůƵƐŝǀĞ ĐŚĂƌŐĞ ŽŶ ĮdžĞĚ ǀͿ ĞďĞŶƚƵƌĞƐ ŽĨ  ` ϱϬϬ ĐƌŽƌĞ ƉůĂĐĞĚ ŝŶŝƟĂůůLJ ǁŝƚŚ >ŝĨĞ ĂƐƐĞƚƐĐƌĞĂƚĞĚͬƚŽďĞĐƌĞĂƚĞĚƵŶĚĞƌϲdžϭϯϱDtWŽǁĞƌWůĂŶƚ /ŶƐƵƌĂŶĐĞ ŽƌƉŽƌĂƟŽŶ ŽĨ /ŶĚŝĂ ŽŶ ƉƌŝǀĂƚĞ ƉůĂĐĞŵĞŶƚ WƌŽũĞĐƚĂƚŶŐƵů͕KĚŝƐŚĂ͖ ďĂƐŝƐ ĂƌĞ ƌĞĚĞĞŵĂďůĞ Ăƚ ƉĂƌ ŝŶ Ϯ ĞƋƵĂů ĂŶŶƵĂů ŝdžͿ >ŽĂŶ ŽĨ ` Ϯϯϰ͘ϭϰ ĐƌŽƌĞ ;WƌĞǀŝŽƵƐ LJĞĂƌ ` ϮϱϬ͘ϬϬ ĐƌŽƌĞͿ ŝŶƐƚĂůŵĞŶƚƐ Ăƚ ƚŚĞ ĞŶĚ ŽĨ ϵ͘ϱ ĂŶĚ ϭϬ͘ϱ LJĞĂƌƐ ĨƌŽŵ ƚŚĞ ĂƌĞƐĞĐƵƌĞĚďLJƐƵďƐĞƌǀŝĞŶƚĐŚĂƌŐĞŽŶĮdžĞĚĂƐƐĞƚƐŽĨƚŚĞ ` ĚĂƚĞ ŽĨ ƌĞƐƉĞĐƟǀĞ ĂůůŽƚŵĞŶƚƐ ŝ͘Ğ͘  ϭϬϬ ĐƌŽƌĞ ;ϮϰƚŚ ŽŵƉĂŶLJ͘

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154 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

OTHER LOANS ŽĨ ŽƚŚĞƌ ŵŽǀĂďůĞ ĂŶĚ ŝŵŵŽǀĂďůĞ ĂƐƐĞƚƐ͖ ƚŚĞ ĐŚĂƌŐĞ ŽŶ ^ĞĐƵƌŝƚLJ ŝŵŵŽǀĞĂďůĞĂƐƐĞƚƐďĞŝŶŐĂŶƵŵďƌĞůůĂĐŚĂƌŐĞƵƉƚŽ`ϰϲϳ͘ϱϬ ŝͿ >ŽĂŶƐŽĨ`ϵϱ͘ϳϱĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭϯϱ͘ϱϱĐƌŽƌĞͿĂƌĞ ĐƌŽƌĞƚŽƐĞĐƵƌĞĐĂƐŚĐƌĞĚŝƚĨƌŽŵďĂŶŬƐĂŶĚŽƚŚĞƌůŽĂŶƐĂƐ ^ĞĐƵƌĞĚďLJŚLJƉŽƚŚĞĐĂƟŽŶďLJǁĂLJŽĨĮƌƐƚĐŚĂƌŐĞŽŶƐƚŽĐŬƐ ƉĞƌŶŽƚĞϴ;ĂͿ͘ ŽĨ ĮŶŝƐŚĞĚ ŐŽŽĚƐ͕ ƌĂǁ ŵĂƚĞƌŝĂů͕ ǁŽƌŬ ŝŶ ƉƌŽŐƌĞƐƐ͕ ƐƚŽƌĞƐ ŝŝͿ >ŽĂŶƐŽĨ`ϱϰ͘ϭϳĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϰϭ͘ϳϳĐƌŽƌĞͿĂƌĞ ĂŶĚƐƉĂƌĞƐĂŶĚŬĚĞďƚƐĂŶĚƐĞĐŽŶĚĐŚĂƌŐĞŝŶƌĞƐƉĞĐƚ ƐĞĐƵƌĞĚďLJŚLJƉŽƚŚĞĐĂƟŽŶŽĨŬĚĞďƚƐĂŶĚƐƚŽĐŬƐ͘

;`ŝŶƌŽƌĞͿ EŽŶͲƵƌƌĞŶƚWŽƌƟŽŶ ƵƌƌĞŶƚWŽƌƟŽŶ WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 31st March, 2013 31st March, 2012 b) Unsecured Long-term Borrowings i) Term Loans Unsecured Term Loans from Banks KƚŚĞƌ>ŽĂŶƐ ϰϮϴ͘Ϭϵ ϳϴϰ͘ϵϭ Ͳ Ͳ Unsecured Loans from Others &ŝdžĞĚĞƉŽƐŝƚƐĨƌŽŵƉƵďůŝĐ Ͳ ϲ͘Ϭϴ ϱ͘ϵϰ ϯϭ͘ϭϰ 428.09 790.99 5.94 31.14 ii) Other Loans & Advances džƚĞƌŶĂůŽŵŵĞƌĐŝĂůŽƌƌŽǁŝŶŐƐ ϭ͕Ϭϱϲ͘ϳϬ ϭ͕ϭϲϲ͘ϵϮ ϭϭϴ͘ϱϰ ϵϵϯ͘ϳϱ Unsecured Long-term 1,484.79 1,957.91 124.48 1,024.89 Borrowings 11,860.92 8,493.92 975.28 1,341.86 ŵŽƵŶƚĚŝƐĐůŽƐĞĚƵŶĚĞƌŽƚŚĞƌͲ Ͳ Ͳ ;ϵϲϵ͘ϯϰͿ ;ϭ͕ϯϰϭ͘ϴϲͿ ĐƵƌƌĞŶƚ>ŝĂďŝůŝƟĞƐ΀EŽƚĞŶŽ͘ͲϭϬ;ĂͿ΁ ŵŽƵŶƚĚŝƐĐůŽƐĞĚƵŶĚĞƌƐŚŽƌƚƚĞƌŵ Ͳ Ͳ ;ϱ͘ϵϰͿ Ͳ ďŽƌƌŽǁŝŶŐƐ΀EŽƚĞŶŽ͘Ͳϴ;ďͿ;ŝǀͿ΁ Total Long-term Borrowings 11,860.92 8,493.92 - -

;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 6. Kd,Z>KE'ͳdZD>//>/d/^ a) Others ^ĞĐƵƌŝƚLJĞƉŽƐŝƚƐĂŶĚĚǀĂŶĐĞƐ ϱϲϬ͘ϱϴ ϭϰϭ͘Ϯϰ dŽƚĂůKƚŚĞƌ>ŽŶŐͲƚĞƌŵ>ŝĂďŝůŝƟĞƐ 560.58 141.24

;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 7. >KE'ͳdZDWZKs/^/KE^ WƌŽǀŝƐŝŽŶĨŽƌŵƉůŽLJĞĞĞŶĞĮƚƐ 'ƌĂƚƵŝƚLJ ϭϭ͘ϱϴ ϴ͘ϯϰ KƚŚĞƌĚĞĮŶĞĚďĞŶĞĮƚƉůĂŶƐ΂EŽƚĞŶŽ͘Ͳϯϯ;ďͿ΃ ϵ͘ϯϲ ϭϬ͘ϯϴ Total Long-term Provisions 20.94 18.72

155 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 8. ^,KZdͳdZDKZZKt/E'^ aΉ Secured Short-term Borrowings &ƌŽŵĂŶŬƐ ĂƐŚƌĞĚŝƚĨƌŽŵĂŶŬƐ ϱϬϰ͘ϰϵ ϰϰϳ͘ϲϯ KƚŚĞƌ>ŽĂŶƐ ϲϵϲ͘ϴϬ Ϯϱϵ͘ϱϴ Secured Short-term Borrowings 1,201.29 707.21

ĂƐŚƌĞĚŝƚĨƌŽŵĂŶŬƐ ^ĞĐƵƌĞĚďLJŚLJƉŽƚŚĞĐĂƟŽŶďLJǁĂLJŽĨĮƌƐƚĐŚĂƌŐĞŽŶƐƚŽĐŬƐŽĨĮŶŝƐŚĞĚŐŽŽĚƐ͕ƌĂǁŵĂƚĞƌŝĂů͕ǁŽƌŬŝŶƉƌŽŐƌĞƐƐ͕ƐƚŽƌĞƐĂŶĚƐƉĂƌĞƐĂŶĚ ŬĚĞďƚƐĂŶĚƐĞĐŽŶĚĐŚĂƌŐĞŝŶƌĞƐƉĞĐƚŽĨŽƚŚĞƌŵŽǀĂďůĞĂŶĚŝŵŵŽǀĂďůĞĂƐƐĞƚƐ͖ƚŚĞĐŚĂƌŐĞŽŶŝŵŵŽǀĞĂďůĞĂƐƐĞƚƐďĞŝŶŐĂŶƵŵďƌĞůůĂ ĐŚĂƌŐĞƵƉƚŽ`ϰϲϳ͘ϱϬĐƌŽƌĞƚŽƐĞĐƵƌĞŽƚŚĞƌůŽĂŶƐĨƌŽŵďĂŶŬƐĂƐƉĞƌŶŽƚĞϱ;ĂͿ;ŝŝŝͿĂŶĚŽƚŚĞƌůŽĂŶƐƵŶĚĞƌŶŽƚĞϴ;ĂͿ͘dŚĞĐĂƐŚĐƌĞĚŝƚŝƐ ƌĞƉĂLJĂďůĞŽŶĚĞŵĂŶĚ͘ Other Loans ŝͿ >ŽĂŶƐ ŽĨ ` ϮϬϭ͘ϰϯ ĐƌŽƌĞ ;WƌĞǀŝŽƵƐ LJĞĂƌ ` Ϯϱϵ͘ϱϴ ĐƌŽƌĞͿ ĂƌĞ ^ĞĐƵƌĞĚ ďLJ ŚLJƉŽƚŚĞĐĂƟŽŶ ďLJ ǁĂLJ ŽĨ ĮƌƐƚ ĐŚĂƌŐĞ ŽŶ ƐƚŽĐŬƐŽĨĮŶŝƐŚĞĚŐŽŽĚƐ͕ƌĂǁŵĂƚĞƌŝĂů͕ǁŽƌŬŝŶƉƌŽŐƌĞƐƐ͕ƐƚŽƌĞƐĂŶĚƐƉĂƌĞƐĂŶĚŬĚĞďƚƐĂŶĚƐĞĐŽŶĚĐŚĂƌŐĞŝŶƌĞƐƉĞĐƚŽĨŽƚŚĞƌ ŵŽǀĂďůĞĂŶĚŝŵŵŽǀĂďůĞĂƐƐĞƚƐ͖ƚŚĞĐŚĂƌŐĞŽŶŝŵŵŽǀĞĂďůĞĂƐƐĞƚƐďĞŝŶŐĂŶƵŵďƌĞůůĂĐŚĂƌŐĞƵƉƚŽ`ϰϲϳ͘ϱϬĐƌŽƌĞƚŽƐĞĐƵƌĞŽƚŚĞƌ ůŽĂŶƐĨƌŽŵďĂŶŬƐĂƐƉĞƌŶŽƚĞϱ;ĂͿ;ŝŝŝͿĂŶĚĐĂƐŚĐƌĞĚŝƚĨƌŽŵďĂŶŬƐƵŶĚĞƌŶŽƚĞϴ;ĂͿ͘ ŝŝͿ >ŽĂŶƐŽĨ`Ϯϵϱ͘ϯϳĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌŶŝůͿĂƌĞƐĞĐƵƌĞĚďLJŚLJƉŽƚŚĞĐĂƟŽŶŽĨŬĚĞďƚƐĂŶĚƐƚŽĐŬƐ͘ ŝŝŝͿ >ŽĂŶƐŽĨ`ϮϬϬ͘ϬϬĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌŶŝůͿĂƌĞƐĞĐƵƌĞĚďLJƐďƐĞƌǀŝĞŶƚĐŚĂƌŐĞďLJǁĂLJŽĨŚLJƉŽƚŚĞĐĂƟŽŶŽĨĐƵƌƌĞŶƚĂƐƐĞƚƐ͘ ;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 b) Unsecured Short-term Borrowings i) &ƌŽŵĂŶŬƐ ^ŚŽƌƚdĞƌŵ>ŽĂŶƐ ϭ͕ϴϬϳ͘ϵϵ Ϯϱϳ͘Ϯϭ KƚŚĞƌ>ŽĂŶƐ ϭ͕ϳϲϭ͘Ϯϰ Ϯ͕ϮϬϳ͘ϱϲ 3,569.23 2,464.77 ii) Other Loans ϭ͕ϭϮϱ͘ϬϬ ϮϮϬ͘ϬϬ iii) >ŽĂŶƐĂŶĚĚǀĂŶĐĞƐĨƌŽŵZĞůĂƚĞĚWĂƌƟĞƐ /ŶƚĞƌŽƌƉŽƌĂƚĞĞƉŽƐŝƚƐ;ĨƌŽŵƐƵďƐŝĚŝĂƌLJͿ΂EŽƚĞŶŽ͘Ͳϯϲ;ďͿ΃ ϭ͕ϳϯϴ͘ϱϲ Ϯ͕ϰϴϲ͘ϱϲ iv) Fixed Deposits from Public ϱ͘ϵϰ Ͳ Unsecured Short-term Borrowings 6,438.73 5,171.33 Total Short-term Borrowings 7,640.02 5,878.54

;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 9. TRADE PAYABLES dƌĂĚĞWĂLJĂďůĞƐ ϲϮϴ͘ϮϬ ϵϵϴ͘ϯϭ dŽƚĂůdƌĂĚĞWĂLJĂďůĞƐ 628.20 998.31

dŚĞŽŵƉĂŶLJŚĂƐƐŽĨĂƌŶŽƚƌĞĐĞŝǀĞĚŝŶĨŽƌŵĂƟŽŶĨƌŽŵǀĞŶĚŽƌƐƌĞŐĂƌĚŝŶŐƚŚĞŝƌƐƚĂƚƵƐƵŶĚĞƌƚŚĞDŝĐƌŽ͕^ŵĂůůĂŶĚDĞĚŝƵŵŶƚĞƌƉƌŝƐĞƐ ;ĞǀĞůŽƉŵĞŶƚͿĐƚ͕ϮϬϬϲĂŶĚŚĞŶĐĞĚŝƐĐůŽƐƵƌĞƌĞůĂƟŶŐƚŽĂŵŽƵŶƚƐƵŶƉĂŝĚĂƐĂƚƚŚĞLJĞĂƌͲĞŶĚƚŽŐĞƚŚĞƌǁŝƚŚŝŶƚĞƌĞƐƚƉĂŝĚͬƉĂLJĂďůĞ ƵŶĚĞƌƚŚŝƐĐƚŚĂǀĞŶŽƚďĞĞŶŐŝǀĞŶ͘

156 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 10. OTHER CURRENT LIABILITIES a) ƵƌƌĞŶƚŵĂƚƵƌŝƟĞƐŽĨůŽŶŐͲƚĞƌŵĚĞďƚƐ ϵϲϵ͘ϯϰ ϭ͕ϯϰϭ͘ϴϲ b) /ŶƚĞƌĞƐƚĂĐĐƌƵĞĚďƵƚŶŽƚĚƵĞŽŶďŽƌƌŽǁŝŶŐƐ ϯϬ͘ϵϬ ϰϱ͘ϴϰ c) /ŶǀĞƐƚŽƌĚƵĐĂƟŽŶΘWƌŽƚĞĐƟŽŶ&ƵŶĚΎ hŶƉĂŝĚĚŝǀŝĚĞŶĚ ϳ͘ϱϬ ϭϲ͘ϱϬ hŶƉĂŝĚŵĂƚƵƌĞĚĚĞƉŽƐŝƚƐĂŶĚŝŶƚĞƌĞƐƚĂĐĐƌƵĞĚ Ϭ͘ϴϳ ϭ͘ϱϱ d) KƚŚĞƌWĂLJĂďůĞƐ ^ƚĂƚƵƚŽƌLJĚƵĞƐΎΎ ϱϰϴ͘ϵϰ ϰϳϮ͘Ϭϭ ĚǀĂŶĐĞĨƌŽŵĐƵƐƚŽŵĞƌĂŶĚŽƚŚĞƌƐ ϮϴϮ͘ϯϲ Ϯϴϵ͘ϳϯ ^ĞĐƵƌŝƚLJĚĞƉŽƐŝƚƐĂŶĚĂĚǀĂŶĐĞƐ ϭϱ͘ϰϬ ϭϯ͘Ϭϭ ƌĞĚŝƚŽƌƐĨŽƌĐĂƉŝƚĂůĞdžƉĞŶĚŝƚƵƌĞ ϯϵϮ͘ϵϴ ϵϯϲ͘ϬϬ KƵƚƐƚĂŶĚŝŶŐůŝĂďŝůŝƟĞƐĨŽƌĞdžƉĞŶƐĞƐ ϮϮϬ͘ϴϴ ϱϬϭ͘ϰϳ KƚŚĞƌƐ ϭϭϱ͘ϮϮ ϰϯ͘ϱϲ dŽƚĂůKƚŚĞƌƵƌƌĞŶƚ>ŝĂďŝůŝƟĞƐ 2,584.39 3,661.53 ΎdŚĞƌĞŝƐŶŽĂŵŽƵŶƚĚƵĞĂŶĚŽƵƚƐƚĂŶĚŝŶŐƚŽďĞĐƌĞĚŝƚĞĚƚŽ/ŶǀĞƐƚŽƌĚƵĐĂƟŽŶĂŶĚWƌŽƚĞĐƟŽŶ&ƵŶĚ ΎΎ/Ŷ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ĐĐŽƵŶƟŶŐ ^ƚĂŶĚĂƌĚ ;^ͲϮϵͿ ͚WƌŽǀŝƐŝŽŶƐ͕ ŽŶƟŶŐĞŶƚ >ŝĂďŝůŝƟĞƐ ĂŶĚ ŽŶƟŶŐĞŶƚ ƐƐĞƚƐ͛ ĂŶĚ ďĂƐĞĚ ŽŶ ŵĂŶĂŐĞŵĞŶƚ ĂƐƐĞƐƐŵĞŶƚ͕ ƚŚĞ ŽŵƉĂŶLJ ŚĂĚ ŵĂĚĞ Ă ƉƌŽǀŝƐŝŽŶ ĨŽƌ ĐŽŶƟŶŐĞŶĐŝĞƐ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ĚƵƟĞƐ ĂŶĚ ƚĂdžĞƐ ƉĂLJĂďůĞ ƵŶĚĞƌ ǀĂƌŝŽƵƐůĂǁƐ͘ƚƚŚĞďĞŐŝŶŶŝŶŐŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͕ƚŚĞƌĞǁĂƐĂŶŽƵƚƐƚĂŶĚŝŶŐƉƌŽǀŝƐŝŽŶŽĨ`ϭϱϲ͘ϬϮĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭϱϲ͘ϬϮ ĐƌŽƌĞͿŝŶĐůƵĚĞĚŝŶ͚KƚŚĞƌWĂLJĂďůĞƐ͛ǁŝƚŚŶŽƉƌŽǀŝƐŝŽŶͬƵƟůŝƐĂƟŽŶ͕ĂƚƚŚĞĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͕ƚŚĞƌĞŝƐĂŶŽƵƚƐƚĂŶĚŝŶŐƉƌŽǀŝƐŝŽŶŽĨ `ϭϱϲ͘ϬϮĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭϱϲ͘ϬϮĐƌŽƌĞͿ͘

;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 11. ^,KZdͳdZDWZKs/^/KE^ a) WƌŽǀŝƐŝŽŶĨŽƌŵƉůŽLJĞĞĞŶĞĮƚƐ >ĞĂǀĞŶĐĂƐŚŵĞŶƚ ϲϬ͘ϭϴ ϱϬ͘Ϯϭ 60.18 50.21 b) Other Provisions WƌŽǀŝƐŝŽŶ&ŽƌdĂdžĂƟŽŶͲ/ŶĐŽŵĞdĂdž Ϯ͕ϳϯϳ͘ϲϳ Ϯ͕Ϯϰϴ͘ϴϳ WƌŽǀŝƐŝŽŶ&ŽƌdĂdžĂƟŽŶͲtĞĂůƚŚdĂdž ϭ͘ϭϭ Ϭ͘ϴϭ WƌŽƉŽƐĞĚŝǀŝĚĞŶĚ ϭϰϵ͘ϱϳ ϭϰϵ͘ϱϳ ŽƌƉŽƌĂƚĞdĂdžKŶŝǀŝĚĞŶĚ ϯ͘ϯϮ ϯ͘ϭϳ 2,891.67 2,402.42 Total Short-term Provisions 2,951.85 2,452.63

157 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013 ϴϭ 2012 As at As at 2012 As at As at Ϭ͘ϭϰ ŝŶƌŽƌĞͿ ŝŶƌŽƌĞͿ ` ` 31st March, March,31st 31st March,31st ; ; 2013 As at As at 2013 As at As at ϭϭ͕ϰϲϲ͘ϭϮ ϭϬ͕ϰϳϵ͘ϴϲ 31st March, March, 31st 31st March, March, 31st Ͳ Ϯϭϭ͘ϱϱ ϭϵϳ͘Ϭϭ ϱ͘Ϯϯ ϭϵϬ͘ϳϵ ϮϮϱ͘Ϭϰ ϳ͘ϵϳ ϯϱ͘ϲϲ ϯϬ͘ϰϲ 2013 As at As at 2013 As at As at ϰϭ͘ϭϭ ϭϲ͘ϳϭ ϭϵ͘ϱϰ 1st April, 1st 31st March, March, 31st  Ϭ͘ϭϴ Ϭ͘ϲϲ Ϭ͘ϴϰ  ϭϱ͘ϵϴ ϯϯϱ͘ϰϭ ϯϬϵ͘ϳϳ  ϭϬϴ͘Ϭϲ ϭϭϭ͘ϲϱ ϭϭϭ͘ϱϮ Other Other Adjustments Adjustments Adjustments Adjustments Ϭ Ϭ͘ϬϮ Ϯϯϱ͘ϳϮ Ϯ͕Ϭϲϴ͘Ϯϳ ϭ͕ϱϳϰ͘ϰϭ ϬϬ Ϭ͘ϬϬ ϲϴ͘ϳϭ ϯϱϳ͘ϯϳ ϯϰϬ͘Ϭϳ ͘ϲϭ Ϭ͘ϬϬ Ϯϭ͘ϲϬ ϱϯ͘ϵϯ ϰϴ͘ϯϯ period For the For period For the For ϲ ϭϱ͘ϳϭ Ͳ ϱϬ͘ϱϳ Ϭ͘Ϭϭ ϵ͘Ϭϲ 2012 ϳϴϲ͘ϵϯ ϴϴϲ͘ϰϮ ϭϴ͘Ϭϵ ϯ͕ϲϱϱ͘Ϯϱ ϭϭ͕ϱϰϵ͘Ϭϭ ϭϬ͕ϬϬϬ͘ϰϮ 2012 As at As at ϳϱϳ͘Ϭϰ ϴϳϱ͘ϮϬ ϭϴ͘Ϭϵ ϯ͕ϲϭϰ͘ϭϰ ϭϭ͕ϱϯϮ͘ϯϬ ϵ͕ϵϴϬ͘ϴϴ Balance as at 1st April, 1st at 1st April, 1st ϯ ϯ͕ϮϮϭ͘Ϭϵ ϵϮϭ͘ϰϭ Ϭ͘ϱϴ ϰ͕ϭϰϭ͘ϵϮ ϭϬ͕ϳϳϳ͘ϰϭ ϴ͕ϲϵϱ͘ϱϱ 2013 As at As at 2013 As at As at 31st March, March, 31st 31st March, March, 31st Other Other Adjustments Adjustments Adjustments Adjustments Disposals/ Adjustments Adjustments Disposals/ ŶŐĂůůŽĐĂƟŽŶͬĐĂƉŝƚĂůŝƐĂƟŽŶĂŶĚĐĂƉŝƚĂůŐŽŽĚƐůLJŝŶŐŝŶƐƚŽƌĞƐͿ  Adjustments Adjustments 'ƌŽƐƐĂƌƌLJŝŶŐsĂůƵĞ ŵŽƌƟƐĂƟŽŶ EĞƚĂƌƌLJŝŶŐsĂůƵĞ 'ƌŽƐƐĂƌƌLJŝŶŐsĂůƵĞ ĞƉƌĞĐŝĂƟŽŶ EĞƚĂƌƌLJŝŶŐsĂůƵĞ ĚĚŝƟŽŶƐ ĚĚŝƟŽŶƐ 2012 As at As at ϭϯ͘Ϭϱ ϵ͘ϯϯ Ͳ Ͳ ϮϮ͘ϯϴ ϲ͘Ϯϰ Ϯ͘ϴϬ Ͳ ϵ͘Ϭϰ ϭϯ͘ϯϰ ϲ͘ 2012 As at As at 1st April, 1st 1st April, April, 1st FIXED ASSETS Assets Tangible >ĂŶĚ&ƌĞĞŚŽůĚ ϭϵϳ͘Ϭϭ ϭϱ͘ϳϭ ϭ͘ϭϳ Ͳ Ϯϭϭ͘ϱϱ Ͳ Ͳ Ͳ  WůĂŶƚĂŶĚƋƵŝƉŵĞŶƚ ϭϭ͕ϵϭϲ͘ϲϰ Ϯ͕ϲϮϴ͘ϯϴ ϭ͘ϰϬ ϯϳϱ͘ϳϭ ϭϰ͕ϵϭϵ͘ϯ >ĂŶĚ>ĞĂƐĞŚŽůĚ ϯϮϭ͘ϯϯ ϯϬ͘Ϭϲ Ͳ Ͳ ϯϱϭ͘ϯϵ ϭϭ͘ϱϲ ϰ͘ϰϮ Ͳ >ŝǀĞ^ƚŽĐŬƵŝůĚŝŶŐƐ Ϭ͘ϭϰ ϭ͕ϳϯϰ͘Ϭϱ ϱϮϴ͘ϭϭ Ͳ Ϭ͘Ϯϵ Ͳ ϰϮ͘ϭϮ Ϯ͕ϯϬϯ͘ϵϵ Ͳ ϭϱϵ͘ϲϰ ϳϲ͘ϭ Ϭ͘ϭϰ Ͳ Ͳ Ͳ Ͳ Ϭ͘ϭϰ ůĞĐƚƌŝĐĂů&ŝƫŶŐƐ ϯϴϵ͘ϳϴ ϯϱ͘ϴϬ Ϭ͘Ϭϯ Ϭ͘ϱϯ ϰϮϲ͘Ϭϴ ϰϵ͘ϳϭ ϭϵ͘ &ƵƌŶŝƚƵƌĞĂŶĚ&ŝdžƚƵƌĞƐ ϲϱ͘ϯϮ ϭϬ͘Ϯϭ Ϭ͘ϬϬ Ͳ ϳϱ͘ϱϯ ϭϲ͘ϵϵ ϰ sĞŚŝĐůĞƐ ϮϬϬ͘ϰϰ Ϯϰ͘ϬϬ ϰ͘ϲϬ ;Ϭ͘ϭϯͿ Ϯϭϵ͘ϳϭ ϴϴ͘ϵϮ ϮϬ͘ϱϵ ϭ͘ϰϱ ŝƌĐƌĂŌ Ϯϴϱ͘ϭϴ Ͳ Ϯϵ͘ϭϲ Ͳ Ϯϱϲ͘ϬϮ ϲϬ͘ϭϰ ϭϱ͘ϲϵ ϭϬ͘ϲϬ ϲ KĸĐĞĞƋƵŝƉŵĞŶƚ ϯϲ͘ϱϱ ϳ͘Ϯϳ Ϭ͘ϭϵ Ͳ ϰϯ͘ϲϯ ϲ͘Ϭϵ ϭ͘ϵϭ Ϭ͘Ϭϯ Total Total WƌĞǀŝŽƵƐzĞĂƌ ϭϮ͕ϳϯϳ͘ϵϮ 15,146.44 Ϯ͕ϭϱϬ͘Ϭϯ 3,279.54 ϲϳ͘ϴϭ 36.84 ϯϮϲ͘ϯϭ 418.23 ϭϱ͕ϭϰϲ͘ϰϱ 18,807.37 Ϯ͕ 3,614.14 1,063.73 12.68 4,665.19 14,142.18 11,532.30 Total Total 57.81 15.99 - - 73.80 41.11 18.68 - 59.79 14.01 16.71 ĞƐŝŐŶƐĂŶĚĚƌĂǁŝŶŐƐ Ϭ͘ϴϰ Ͳ Ͳ Ͳ Ϭ͘ϴϰ Ϭ͘Ϭϭ Ϭ͘ϭϳ Ͳ WƌĞǀŝŽƵƐzĞĂƌ ϰϵ͘ϰϯ ϴ͘ϯϴ Ͳ Ͳ ϱϳ͘ϴϭ Ϯϵ͘ϴϵ ϭϭ͘ϮϮ Ͳ  GRAND TOTAL GRAND TOTAL WƌĞǀŝŽƵƐzĞĂƌ 15,204.25 3,295.53 ϭϮ͕ϳϴϳ͘ϯϱ Ϯ͕ϭϱϴ͘ϰϭ 36.84 ϲϳ͘ϴϭ 418.23 18,881.17 ϯϮϲ͘ϯϭ 3,655.25 ϭϱ͕ϮϬϰ͘Ϯϲ 1,082.41 Ϯ͕ 12.68 4,724.98 14,156.19 11,549.01 ^ĞƌǀŝĐĞƐĂŶĚŽƉĞƌĂƟŶŐƌŝŐŚƚƐ ϰϯ͘ϵϮ ϲ͘ϲϲ Ͳ Ͳ ϱϬ͘ϱϴ ϯϰ͘ϴ ĂƉŝƚĂůǁŽƌŬŝŶƉƌŽŐƌĞƐƐ;ŝŶĐůƵĚŝŶŐƉƌĞͲŽƉĞƌĂƟǀĞĞdžƉĞŶƐĞƐƉĞŶĚŝ 12. Assets Intangible ŽŵƉƵƚĞƌƐŽŌǁĂƌĞͲŽƵŐŚƚŽƵƚ WĂƌƟĐƵůĂƌƐ WĂƌƟĐƵůĂƌƐ

158 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

EŽƚĞƐ͗ ĂͿ ^ƚĂƚĞŵĞŶƚ^ŚŽǁŝŶŐƚŚĞĚĞƚĂŝůƐŽĨWƌĞͲŽƉĞƌĂƟǀĞdžƉĞŶĚŝƚƵƌĞĂƐĂƚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ;`ŝŶƌŽƌĞͿ WĂƌƟĐƵůĂƌƐ Current Year Previous Year ŵŽƵŶƚďƌŽƵŐŚƚĨŽƌǁĂƌĚĨƌŽŵůĂƐƚLJĞĂƌ ϱϵϳ͘ϭϱ ϯϴϯ͘ϰϮ ĚĚ͗džƉĞŶƐĞƐĚƵƌŝŶŐƚŚĞzĞĂƌ WĞƌƐŽŶŶĞůdžƉĞŶƐĞƐ ϭϮϬ͘ϳϱ ϭϬϬ͘Ϭϵ ŽŶƐƵůƚĂŶĐLJŚĂƌŐĞƐ Ϯϰ͘ϭϭ ϲϴ͘Ϯϳ &ŝŶĂŶĐŝĂůdžƉĞŶƐĞƐ Ϭ͘ϭϳ ϭϭ͘ϰϳ &ŽƌĞŝŐŶdžĐŚĂŶŐĞ&ůƵĐƚƵĂƟŽŶƐ ;Ϯϯ͘ϴϱͿ Ϯϳ͘Ϯϲ ĞƉƌĞĐŝĂƟŽŶ ϯϯ͘ϵϰ ϭϵ͘Ϯϰ DŝƐĐĞůůĂŶĞŽƵƐdžƉĞŶƐĞƐ ϭϯϯ͘ϲϯ ϭϰϯ͘ϴϰ 885.90 753.59 >ĞƐƐ͗ĂƉŝƚĂůŝƐĞĚĂƐƉĂƌƚŽĨ WůĂŶƚΘŵĂĐŚŝŶĞƌLJ ϭϵϰ͘ϲϰ ϭϰϰ͘ϵϮ ƵŝůĚŝŶŐ Ϯϳ͘ϱϮ ϭϬ͘ϯϳ KƚŚĞƌĮdžĞĚĂƐƐĞƚƐ Ϭ͘ϵϯ ϭ͘ϭϱ Amount carried forward in CWIP 662.81 597.15

ĞƉƌĞĐŝĂƟŽŶĚƵƌŝŶŐƚŚĞLJĞĂƌŝŶĐůƵĚĞƐ`ϯϯ͘ϵϰĐƌŽƌĞ;ƉƌĞǀŝŽƵƐLJĞĂƌ`ϭϵ͘ϮϰĐƌŽƌĞͿƚƌĂŶƐĨĞƌƌĞĚƚŽƉƌĞͲŽƉĞƌĂƟǀĞĞdžƉĞŶƐĞƐ͘

ďͿ &ƌĞĞŚŽůĚůĂŶĚŝŶĐůƵĚĞƐ`ϱ͘ϴϱĐƌŽƌĞũŽŝŶƚůLJŽǁŶĞĚǁŝƚŚĂĐŽŵƉĂŶLJǁŝƚŚϱϬйƐŚĂƌĞĂŶĚƉĞŶĚŝŶŐƌĞŐŝƐƚƌĂƟŽŶ͘ ĐͿ ĂƉŝƚĂůǁŽƌŬͲŝŶͲƉƌŽŐƌĞƐƐŝŶĐůƵĚĞƐ`ϲϲϮ͘ϴϵĐƌŽƌĞ;ƉƌĞǀŝŽƵƐLJĞĂƌ`ϱϵϳ͘ϭϰĐƌŽƌĞͿďĞŝŶŐƉƌĞͲŽƉĞƌĂƟǀĞĞdžƉĞŶĚŝƚƵƌĞĂŶĚ`ϱϴϱ͘ϮϮ ĐƌŽƌĞ;ƉƌĞǀŝŽƵƐLJĞĂƌ`ϭ͕Ϭϳϵ͘ϰϬĐƌŽƌĞͿďĞŝŶŐĐĂƉŝƚĂůƐƚŽƌĞƐ͘ ĚͿ ĚĚŝƟŽŶƚŽĮdžĞĚĂƐƐĞƚƐŝŶĐůƵĚĞƐ`ϭϭ͘ϭϬĐƌŽƌĞ;ƉƌĞǀŝŽƵƐLJĞĂƌ`ϰ͘ϴϰĐƌŽƌĞͿĂŶĚĂĚĚŝƟŽŶƚŽĐĂƉŝƚĂůǁŽƌŬͲŝŶͲƉƌŽŐƌĞƐƐŝŶĐůƵĚĞƐ `ϯ͘ϮϰĐƌŽƌĞ;ƉƌĞǀŝŽƵƐLJĞĂƌ`Ϭ͘ϰϴĐƌŽƌĞͿďĞŝŶŐĞdžƉĞŶĚŝƚƵƌĞŝŶĐƵƌƌĞĚŽŶƌĞƐĞĂƌĐŚΘĚĞǀĞůŽƉŵĞŶƚĂĐƟǀŝƟĞƐ͘dŚĞĐĂƉŝƚĂůǁŽƌŬͲŝŶͲ ƉƌŽŐƌĞƐƐĂĐĐƵŵƵůĂƚĞĚďĂůĂŶĐĞĂƐŽŶϯϭƐƚDĂƌĐŚ͕ϭϯŝƐ`ϰ͘ϬϱĐƌŽƌĞ;ƉƌĞǀŝŽƵƐLJĞĂƌ`Ϭ͘ϴϰĐƌŽƌĞͿ͘ĚũƵƐƚŵĞŶƚƐŝŶĐůƵĚĞƐ`ϭ͘ϴϮĐƌŽƌĞ ŽĨĂƐƐĞƚƐĞĂƌůŝĞƌƵƐĞĚĨŽƌZΘĂĐƟǀŝƟĞƐŶŽǁƚƌĂŶƐĨĞƌƌĞĚƚŽŽƚŚĞƌƵŶŝƚƐ͘ ĞͿ ĚĚŝƟŽŶƐͬ;ĂĚũƵƐƚŵĞŶƚƐͿ ƚŽ ƉůĂŶƚ ĂŶĚ ŵĂĐŚŝŶĞƌLJͬĐĂƉŝƚĂů ǁŽƌŬͲŝŶͲƉƌŽŐƌĞƐƐ ŝŶĐůƵĚĞƐĂĚĚŝƟŽŶ ŽĨ ` ϭϯϬ͘ϬϬ ĐƌŽƌĞ ;ƉƌĞǀŝŽƵƐ LJĞĂƌ ĂĚĚŝƟŽŶŽĨ`ϯϯϮ͘ϮϮĐƌŽƌĞͿŽŶĂĐĐŽƵŶƚŽĨĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞŇƵĐƚƵĂƟŽŶŽŶůŽŶŐͲƚĞƌŵůŝĂďŝůŝƟĞƐƌĞůĂƟŶŐƚŽĂĐƋƵŝƐŝƟŽŶŽĨĮdžĞĚĂƐƐĞƚƐ ƉƵƌƐƵĂŶƚƚŽƚŚĞŶŽƟĮĐĂƟŽŶƐŝƐƐƵĞĚďLJƚŚĞDŝŶŝƐƚƌLJŽĨŽƌƉŽƌĂƚĞīĂŝƌƐƌĞůĂƟŶŐƚŽĐĐŽƵŶƟŶŐ^ƚĂŶĚĂƌĚ;^ͲϭϭͿ͚dŚĞīĞĐƚƐŽĨ ŚĂŶŐĞƐŝŶ&ŽƌĞŝŐŶdžĐŚĂŶŐĞZĂƚĞƐ͛͘ ĨͿ ŽƌƌŽǁŝŶŐĐŽƐƚŝŶĐƵƌƌĞĚĚƵƌŝŶŐƚŚĞLJĞĂƌĂŶĚĐĂƉŝƚĂůŝƐĞĚŝƐ`ϭϰϳ͘ϱϴĐƌŽƌĞ;ƉƌĞǀŝŽƵƐLJĞĂƌ`ϱϬ͘ϰϴĐƌŽƌĞͿ͘ŽƌƌŽǁŝŶŐĐŽƐƚŝŶĐƵƌƌĞĚ ĚƵƌŝŶŐƚŚĞLJĞĂƌĂŶĚƚƌĂŶƐĨĞƌƌĞĚƚŽĐĂƉŝƚĂůǁŽƌŬͲŝŶͲƉƌŽŐƌĞƐƐŝƐ`ϰϮϵ͘ϯϮĐƌŽƌĞ;ƉƌĞǀŝŽƵƐLJĞĂƌ`ϯϳϮ͘ϯϯĐƌŽƌĞͿ͘ ŐͿ džƉĞŶĚŝƚƵƌĞĚƵƌŝŶŐƚƌŝĂůƚƵŶƉĞƌŝŽĚŚĂƐďĞĞŶĐĂƉŝƚĂůŝƐĞĚͬĚĞĐĂƉŝƚĂŝƐĞĚǁŝƚŚĮdžĞĚĂƐƐĞƚƐĂƐƵŶĚĞƌ

159 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

;`ŝŶƌŽƌĞͿ WĂƌƟĐƵůĂƌƐ Current Year Previous Year Income ^ĂůĞƐ ϯϲ͘ϬϮ ϯϬ͘ϴϲ /ŶĐƌĞĂƐĞͬ;ĚĞĐƌĞĂƐĞͿŝŶƐƚŽĐŬ Ͳ Ͳ Total Income (A) 36.02 30.86 >ĞƐƐ͗džƉĞŶĚŝƚƵƌĞ ZĂǁŵĂƚĞƌŝĂůƐĐŽŶƐƵŵĞĚ ϭϳ͘ϱϴ Ͳ WŽǁĞƌΘĨƵĞů Ϯϳ͘ϲϱ ϭϭ͘ϵϰ WĞƌƐŽŶŶĞůĞdžƉĞŶƐĞƐ ϭ͘ϰϳ Ͳ ^ƚŽƌĞƐΘƐƉĂƌĞƉĂƌƚƐĐŽŶƐƵŵĞĚ Ϭ͘ϮϮ ϭ͘ϭϰ KƚŚĞƌƐ Ϭ͘Ϯϭ Ϭ͘ϭϲ Total Expenditure (B) 47.13 13.24 ;ͲͿWƌŽĮƚͬ;>ŽƐƐͿĚƵƌŝŶŐƚƌŝĂůƌƵŶƉĞƌŝŽĚĚƵƌŝŶŐƚŚĞĐƵƌƌĞŶƚĮŶĂŶĐŝĂůLJĞĂƌ (11.11) 17.62 ĞĐĂƉŝƚĂůŝƐĞĚͬ;ĐĂƉŝƚĂůŝƐĞĚͿǁŝƚŚƚŚĞĐŽƐƚŽĨĮdžĞĚĂƐƐĞƚƐ (11.11) 17.62

;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 13. EKEͳhZZEd/Es^dDEd^ i) Other than Trade Investments-Unquoted a.1) hŶƋƵŽƚĞĚĨƵůůLJƉĂŝĚͲƵƉĞƋƵŝƚLJƐŚĂƌĞƐŽĨĂƐƐŽĐŝĂƚĞĚĐŽŵƉĂŶŝĞƐ ŶŐƵů^ƵŬŝŶĚĂZĂŝůǁĂLJ>ŝŵŝƚĞĚ Ϭ͘Ϭϯ Ϭ͘Ϭϯ Ϯϱ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϮϱ͕ϬϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭϬĞĂĐŚ :/ŶĨƌĂWƌŝǀĂƚĞ>ŝŵŝƚĞĚ;ĂƌůŝĞƌŬŶŽǁŶĂƐ&/ŶĨƌĂWƌŝǀĂƚĞ Ϭ͘ϵϴ Ϭ͘ϬϬ >ŝŵŝƚĞĚͿ ϵ͕ϴϬ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϰ͕ϵϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭϬĞĂĐŚ :ŝŶĚĂů/ŶĨŽƐŽůƵƟŽŶƐ>ŝŵŝƚĞĚ Ͳ Ϭ͘ϬϮ E/>;WƌĞǀŝŽƵƐLJĞĂƌϮϰ͕ϳϱϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭϬĞĂĐŚ EĂůǁĂ^ƚĞĞůΘWŽǁĞƌ>ŝŵŝƚĞĚ Ϯ͘ϬϬ Ϯ͘ϬϬ ϮϬ͕ϬϬ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϮϬ͕ϬϬ͕ϬϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭϬĞĂĐŚ a.2) hŶƋƵŽƚĞĚƉĂƌƚůLJƉĂŝĚͲƵƉĞƋƵŝƚLJƐŚĂƌĞƐŽĨĂƐƐŽĐŝĂƚĞĚĐŽŵƉĂŶLJ ŶŐƵů^ƵŬŝŶĚĂZĂŝůǁĂLJ>ŝŵŝƚĞĚ ϭϬ͕ϰϵ͕ϳϱ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌEŝůͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭϬĞĂĐŚ͕ ϯϭ͘ϳϭ Ͳ `ϯ͘ϬϮƉĂŝĚƵƉͿ Sub Total (a) 34.72 2.05 b) hŶƋƵŽƚĞĚĨƵůůLJƉĂŝĚͲƵƉĞƋƵŝƚLJƐŚĂƌĞƐŽĨŝŶĐŽƌƉŽƌĂƚĞĚũŽŝŶƚ ventures :ŝŶĚĂů^LJŶĨƵĞůƐ>ŝŵŝƚĞĚ Ϭ͘ϳϬ Ϭ͘ϳϬ ϳ͕ϬϬ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϳ͕ϬϬ͕ϬϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭϬĞĂĐŚ ^ŚƌĞƐŚƚDŝŶŝŶŐĂŶĚDĞƚĂůƐWƌŝǀĂƚĞ>ŝŵŝƚĞĚ ϭ͘ϬϬ Ϭ͘Ϭϭ ϭϬ͕ϬϬ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϱ͕ϬϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭϬĞĂĐŚ

160 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 13. EKEͳhZZEd/Es^dDEd^ΈKEd͘Ή hƌƚĂŶEŽƌƚŚDŝŶŝŶŐŽŵƉĂŶLJ>ŝŵŝƚĞĚ ϱ͘ϵϱ Ϭ͘ϲϳ ϱϵ͕ϰϲ͕ϲϴϵ;WƌĞǀŝŽƵƐLJĞĂƌϲ͕ϲϲ͕ϲϴϵͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭϬĞĂĐŚ Sub Total (b) 7.65 1.38 c) hŶƋƵŽƚĞĚĨƵůůLJƉĂŝĚͲƵƉĞƋƵŝƚLJƐŚĂƌĞƐŽĨƐƵďƐŝĚŝĂƌLJͬƐƚĞƉĚŽǁŶ ƐƵďƐŝĚŝĂƌLJĐŽŵƉĂŶŝĞƐ ^ŬLJ,ŝŐŚKǀĞƌĞƐĂƐ>ŝŵŝƚĞĚ ϭϭϭ͘Ϭϯ Ͳ Ϯ͕Ϯϯ͕ϱϬ͕ϬϮϵ;WƌĞǀŝŽƵƐLJĞĂƌEŝůͿƋƵŝƚLJ^ŚĂƌĞƐŽĨh^ΨϭĞĂĐŚ :ŝŶĚĂůWŽǁĞƌ>ŝŵŝƚĞĚ ϴϲϳ͘Ϭϱ ϴϲϳ͘Ϭϱ ϭ͕ϯϬ͕Ϭϱ͕ϳϱ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϭ͕ϯϬ͕Ϭϱ͕ϳϱ͕ϬϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ `ϭϬĞĂĐŚ :ŝŶĚĂů^ƚĞĞůŽůŝǀŝĂ^͘͘ ϮϮϳ͘ϴϰ Ϯϲϵ͘ϰϳ ϯϯ͕ϰϱ͕ϲϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϰϮ͕ϱϯ͕ϱϭϭͿƋƵŝƚLJ^ŚĂƌĞƐŽĨŽůŝǀŝĂŶŽƐ ϭϬϬĞĂĐŚ :ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌ;DĂƵƌŝƟƵƐͿ>ŝŵŝƚĞĚ ϯϴϯ͘ϭϯ Ϯϯϭ͘ϴϯ ϳ͕ϱϬ͕ϬϬ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϱ͕ϬϬ͕ϬϬ͕ϬϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨh^ΨϭĞĂĐŚ ƩƵŶůŝ,LJĚƌŽůĞĐƚƌŝĐWŽǁĞƌŽŵƉĂŶLJ>ŝŵŝƚĞĚ Ϭ͘ϬϬ Ϭ͘ϬϬ ϭ;WƌĞǀŝŽƵƐLJĞĂƌϭͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭϬĞĂĐŚ ƚĂůŝŶ,LJĚƌŽůĞĐƚƌŝĐWŽǁĞƌŽŵƉĂŶLJ>ŝŵŝƚĞĚ Ϭ͘ϬϬ Ϭ͘ϬϬ ϭ;WƌĞǀŝŽƵƐLJĞĂƌϭͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭϬĞĂĐŚ <ĂŵĂůĂ,LJĚƌŽůĞĐƚƌŝĐWŽǁĞƌŽŵƉĂŶLJ>ŝŵŝƚĞĚ Ϭ͘ϬϬ Ϭ͘ϬϬ ;ĂƌůŝĞƌŬŶŽǁŶĂƐ^ƵďĂŶƐŝƌŝ,LJĚƌŽůĞĐƚƌŝĐWŽǁĞƌŽŵƉĂŶLJ>ŝŵŝƚĞĚͿ ϭ;WƌĞǀŝŽƵƐLJĞĂƌϭͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭϬĞĂĐŚ Sub Total (c) 1,589.05 1,368.35 d) hŶƋƵŽƚĞĚ/ŶǀĞƐƚŵĞŶƚŝŶ'ŽǀĞƌŶŵĞŶƚĂŶĚdƌƵƐƚ^ĞĐƵƌŝƟĞƐ EĂƟŽŶĂů^ĂǀŝŶŐĞƌƟĮĐĂƚĞƐΎ Ϭ͘Ϭϲ Ϭ͘Ϭϲ `ϲ͕ϭϬ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌ`ϲ͕ϭϬ͕ϬϬϬͿ Ύ΀WůĞĚŐĞĚǁŝƚŚ'ŽǀĞƌŶŵĞŶƚĚĞƉĂƌƚŵĞŶƚƐ`Ϭ͘ϬϲĐƌŽƌĞ;WƌĞǀŝŽƵƐ LJĞĂƌ`Ϭ͘ϬϲĐƌŽƌĞͿ΁ Sub Total (d) 0.06 0.06 e) Investment in Bonds ϴ͘ϭϱй///ͲϮϬϭϲŽŶĚ Ϭ͘ϱϬ Ϭ͘ϱϬ ϱ;WƌĞǀŝŽƵƐLJĞĂƌϱͿƵŶŝƚƐŽĨ`ϭϬ͕ϬϬ͕ϬϬϬĞĂĐŚ Sub Total (e) 0.50 0.50

161 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 13. EKEͳhZZEd/Es^dDEd^ΈKEd͘Ή f) hŶƋƵŽƚĞĚƋƵŝƚLJ^ŚĂƌĞƐ ƌĂŚĂŵƉƵƚƌĂĂƉŝƚĂůĂŶĚ&ŝŶĂŶĐĞ>ŝŵŝƚĞĚ ϭϵ͘ϮϬ ϭϵ͘ϮϬ ϭ͕ϵϮ͕ϬϬ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϭ͕ϵϮ͕ϬϬ͕ϬϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭϬ each :ŝŶĚĂů,ŽůĚŝŶŐ>ŝŵŝƚĞĚ ϭϰ͘ϰϴ ϭϰ͘ϰϴ Ϯϰ͕ϭϰ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϮϰ͕ϭϰ͕ϬϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭϬĞĂĐŚ :ŝŶĚĂůWĞƚƌŽůĞƵŵ>ŝŵŝƚĞĚ Ϭ͘Ϭϱ Ϭ͘Ϭϱ ϰϵ͕ϰϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϰϵ͕ϰϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭϬĞĂĐŚ :ŝŶĚĂůZĞdždžƉůŽƌĂƟŽŶWƌŝǀĂƚĞ>ŝŵŝƚĞĚ Ϭ͘Ϭϭ Ϭ͘Ϭϭ ϵ͕ϴϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϵ͕ϴϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭϬĞĂĐŚ ^ƚĂŝŶůĞƐƐ/ŶǀĞƐƚŵĞŶƚƐ>ŝŵŝƚĞĚ ϲ͘Ϭϱ ϲ͘Ϭϱ ϭϮ͕ϰϮ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϭϮ͕ϰϮ͕ϬϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ`ϭϬĞĂĐŚ yͲŽŶĞ^E, Ϭ͘Ϭϰ Ϭ͘Ϭϰ ϯϲ͕ϮϱϬ;WƌĞǀŝŽƵƐLJĞĂƌϯϲ͕ϮϱϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨDĂůĂLJƐŝĂŶ ZŝŶŐŐŝƚϭĞĂĐŚ Sub Total (f) 39.83 39.83 >ĞƐƐ͗WƌŽǀŝƐŝŽŶĨŽƌĚŝŵŝŶƵƟŽŶŝŶǀĂůƵĞŽĨ/ŶǀĞƐƚŵĞŶƚƐ ;ϯϰϭ͘ϬϵͿ Ͳ  Total Non-current Other Investment 1,330.72 1,412.17 Total Non-current Investment 1,330.72 1,412.17 ŐŐƌĞŐĂƚĞŬǀĂůƵĞͬŵĂƌŬĞƚǀĂůƵĞŽĨƋƵŽƚĞĚŝŶǀĞƐƚŵĞŶƚƐ Ͳ Ͳ ŐŐƌĞŐĂƚĞŬǀĂůƵĞŽĨƵŶƋƵŽƚĞĚŝŶǀĞƐƚŵĞŶƚƐ ϭ͕ϲϳϭ͘ϴϭ ϭ͕ϰϭϮ͘ϭϳ dŚĞŽŵƉĂŶLJŚĂƐƵŶƋƵŽƚĞĚŝŶǀĞƐƚŵĞŶƚƐŽĨ`ϭ͕ϲϳϭ͘ϮϱĐƌŽƌĞŝŶ ďŽĚŝĞƐĐŽƌƉŽƌĂƚĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭ͕ϰϭϭ͘ϲϭĐƌŽƌĞͿ͘ ŐŐƌĞŐĂƚĞƉƌŽǀŝƐŝŽŶĨŽƌĚŝŵŝŶƵƟŽŶŝŶǀĂůƵĞŽĨŝŶǀĞƐƚŵĞŶƚƐ ϯϰϭ͘Ϭϵ Ͳ

;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 14. >KE'ͳdZD>KE^ΘsE^ Unsecured, Considered Good ĂƉŝƚĂůĚǀĂŶĐĞƐ ϲϳϰ͘Ϭϱ ϲϮϵ͘ϵϴ ^ĞĐƵƌŝƚLJĞƉŽƐŝƚƐ ϵϮ͘ϲϯ ϭϮϰ͘ϲϯ KƚŚĞƌƐ ^ŚĂƌĞĂƉƉůŝĐĂƟŽŶŵŽŶĞLJ ϵϲ͘ϰϮ ϭϵϳ͘Ϭϰ KƚŚĞƌƐ ϯϲϮ͘ϯϲ ϰϱ͘ϰϱ

Total Unsecured Long-term Loans & Advances 1,225.46 997.10 Total Long-term Loans & Advances 1,225.46 997.10

162 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 15. Kd,ZEKEͳhZZEd^^d^ ĂŶŬďĂůĂŶĐĞƐΎ Ϭ͘ϱϱ ϰ͘ϲϯ Total Other Non Current Assets 0.55 4.63

ΎWůĞĚŐĞĚǁŝƚŚ'ŽǀĞƌŶŵĞŶƚĚĞƉĂƌƚŵĞŶƚƐĂŶĚKƚŚĞƌƐ`Ϭ͘ϱϱĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭ͘ϬϰĐƌŽƌĞͿ

;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 16. INVENTORIES a) Raw Materials /ŶǀĞŶƚŽƌŝĞƐ ϭ͕Ϯϳϴ͘ϯϰ ϴϲϯ͘ϭϯ 'ŽŽĚƐ/ŶƚƌĂŶƐŝƚ ϵϮ͘ϴϴ ϮϱϮ͘ϭϵ 1,371.22 1,115.32 b) tŽƌŬͲŝŶͲƉƌŽĐĞƐƐ tŽƌŬŝŶƉƌŽĐĞƐƐ ϭϵϮ͘ϵϯ ϭϳϵ͘Ϭϯ 192.93 179.03 c) Finished Goods /ŶǀĞŶƚŽƌŝĞƐ ϭ͕ϰϰϬ͘ϱϬ ϭ͕Ϯϳϵ͘ϭϳ 1,440.50 1,279.17 d) Stores & Spares /ŶǀĞŶƚŽƌŝĞƐ ϱϱϵ͘Ϯϵ ϰϯϴ͘ϲϵ 'ŽŽĚƐ/ŶdƌĂŶƐŝƚ Ϯϯ͘Ϯϳ Ϯϱ͘ϵϲ 582.56 464.65 e) Others ^ĐƌĂƉ ϭϭ͘ϯϭ ϭϯ͘ϭϰ 11.31 13.14 Total Inventories 3,598.52 3,051.31

163 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 17. TRADE RECEIVABLES a) Unsecured Exceeding Six Months ŽŶƐŝĚĞƌĞĚŐŽŽĚ ϵϯ͘ϳϬ ϰϰ͘ϰϱ ŽŶƐŝĚĞƌĞĚĚŽƵďƞƵů ϭ͘ϯϭ ϭ͘ϯϭ >ĞƐƐ͗WƌŽǀŝƐŝŽŶĨŽƌďĂĚĂŶĚĚŽƵďƞƵůĚĞďƚƐ ;ϭ͘ϯϭͿ ;ϭ͘ϯϭͿ Others ŽŶƐŝĚĞƌĞĚŐŽŽĚ ϭ͕ϯϯϮ͘ϰϯ ϴϲϬ͘ϲϭ ϭ͕ϰϮϲ͘ϭϯ ϵϬϱ͘Ϭϲ Total Unsecured Trade Receivable 1,426.13 905.06 Total Trade Receivable 1,426.13 905.06

;`ŝŶƌŽƌĞͿ EŽŶͲƵƌƌĞŶƚWŽƌƟŽŶ ƵƌƌĞŶƚWŽƌƟŽŶ WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 31st March, 2013 31st March, 2012 18. CASH & BANK BALANCES a) Cash & Cash Equivalents ĂƐŚŽŶŚĂŶĚ Ͳ Ͳ Ϭ͘ϴϲ ϭ͘ϭϬ ŚĞƋƵĞƐͬƌĂŌƐ/ŶŚĂŶĚ Ͳ Ͳ ϳ͘ϵϱ ϭ͘ϲϬ ĂŶŬĂůĂŶĐĞƐŝŶĐƵƌƌĞŶƚĂĐĐŽƵŶƚƐ Ͳ Ͳ ϭϰ͘ϲϲ ϭϬ͘ϱϬ ĞƉŽƐŝƚƐǁŝƚŚŽƌŝŐŝŶĂůŵĂƚƵƌŝƚLJŽĨůĞƐƐ Ͳ Ͳ Ͳ Ϭ͘ϭϲ ƚŚĂŶƚŚƌĞĞŵŽŶƚŚƐ KƚŚĞƌƐ Ͳ Ͳ Ϭ͘Ϭϰ Ϭ͘ϬϮ Total Cash & Cash Equivalents - - 23.51 13.38 b) KƚŚĞƌĂŶŬĂůĂŶĐĞƐ i) ĂŶŬƐǁŝƚŚĂƌŵĂƌŬĞĚĂůĂŶĐĞƐ Ͳ  Ͳ  Ͳ  Ͳ  ĂƌŵĂƌŬĞĚĨŽƌƵŶƉĂŝĚĚŝǀŝĚĞŶĚ Ͳ Ͳ ϳ͘ϱϬ ϭϲ͘ϱϬ ii) ĂŶŬƐĞƉŽƐŝƚƐ ĞƉŽƐŝƚƐǁŝƚŚŽƌŝŐŝŶĂůŵĂƚƵƌŝƚLJ Ͳ Ͳ ϱ͘ϳϲ ϭ͘Ϭϲ ƵƉƚŽƚǁĞůǀĞŵŽŶƚŚƐ ĞƉŽƐŝƚƐǁŝƚŚŽƌŝŐŝŶĂůŵĂƚƵƌŝƚLJ Ϭ͘ϱϱ ϰ͘ϲϯ Ͳ Ͳ ŵŽƌĞƚŚĂŶƚǁĞůǀĞŵŽŶƚŚƐ ŵŽƵŶƚĚŝƐĐůŽƐĞĚƵŶĚĞƌŽƚŚĞƌ ;Ϭ͘ϱϱͿ ;ϰ͘ϲϯͿ Ͳ ŶŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐ;EŽƚĞŶŽͲϭϱͿ dŽƚĂůĂƐŚΘĂŶŬĂůĂŶĐĞƐ - - 36.77 30.94

164 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

;`ŝŶƌŽƌĞͿ EŽŶͲƵƌƌĞŶƚWŽƌƟŽŶ ƵƌƌĞŶƚWŽƌƟŽŶ WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 31st March, 2013 31st March, 2012 19. ^,KZdͳdZD>KE^ΘsE^ a) Loans and Advances to ZĞůĂƚĞĚWĂƌƟĞƐ hŶƐĞĐƵƌĞĚ͕ĐŽŶƐŝĚĞƌĞĚŐŽŽĚ Ͳ Ͳ ϭ͕ϰϭϳ͘ϰϴ ϭ͕ϰϭϳ͘ϴϵ Ͳ  Ͳ  1,417.48 1,417.89 b) Loans and Advances to Others hŶƐĞĐƵƌĞĚ͕ĐŽŶƐŝĚĞƌĞĚŐŽŽĚΎ ϲϳϰ͘Ϭϱ ϲϮϵ͘ϵϴ ϵϲϲ͘ϲϱ ϲϰϲ͘Ϭϴ ŽƵďƞƵů Ͳ Ͳ ϱ͘ϳϲ ϱ͘ϳϲ >ĞƐƐ͗WƌŽǀŝƐŝŽŶĨŽƌĚŽƵďƞƵůĂĚǀĂŶĐĞƐ Ͳ Ͳ ;ϱ͘ϳϲͿ ;ϱ͘ϳϲͿ 674.05 629.98 966.65 646.08 c) ^ĞĐƵƌŝƚLJĞƉŽƐŝƚ Ͳ Ͳ ϭ͘ϲϬ ϭ͘Ϯϭ 1.60 1.21 d) Other Loans and Advances ĂůĂŶĐĞƐǁŝƚŚƐƚĂƚƵƚŽƌLJͬ Ͳ Ͳ ϴϴϲ͘Ϭϵ ϱϳϰ͘Ϭϯ ŐŽǀĞƌŶŵĞŶƚĂƵƚŚŽƌŝƟĞƐ ĚǀĂŶĐĞŝŶĐŽŵĞƚĂdžŝŶĐůƵĚŝŶŐd^ Ͳ Ͳ Ϯ͕ϲϳϭ͘ϳϮ Ϯ͕ϭϲϳ͘Ϭϴ Ͳ  Ͳ  3,557.81 2,741.11 ŵŽƵŶƚĚŝƐĐůŽƐĞĚƵŶĚĞƌůŽŶŐƚĞƌŵ ;ϲϳϰ͘ϬϱͿ ;ϲϮϵ͘ϵϴͿ Ͳ Ͳ ůŽĂŶƐΘĂĚǀĂŶĐĞƐ;EŽƚĞŶŽͲϭϰͿ Total Short-term Loans & Advances - - 5,943.54 4,806.29

ΎĚǀĂŶĐĞƐƌĞĐŽǀĞƌĂďůĞŝŶĐĂƐŚŽƌŝŶŬŝŶĚŽƌĨŽƌǀĂůƵĞƚŽďĞƌĞĐĞŝǀĞĚŝŶĐůƵĚĞƐEŝů;WƌĞǀŝŽƵƐLJĞĂƌ`Ϭ͘ϲϵĐƌŽƌĞͿďĞŝŶŐƚŚĞĂŵŽƵŶƚĚƵĞ ĨƌŽŵĚŝƌĞĐƚŽƌƐͬŽĸĐĞƌƐŽĨƚŚĞŽŵƉĂŶLJ͘

;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 20. OTHER CURRENT ASSETS WƌĞͲWĂŝĚĞdžƉĞŶƐĞƐ ϭ͘ϵϰ Ϯ͘ϯϰ /ŶƚĞƌĞƐƚƌĞĐĞŝǀĂďůĞŽŶƐŚŽƌƚƚĞƌŵůŽĂŶƐΘĂĚǀĂŶĐĞƐΎ ϯϲϴ͘ϳϯ ϮϴϬ͘Ϭϴ ŝǀŝĚĞŶĚƌĞĐĞŝǀĂďůĞ ϭϯϬ͘Ϭϲ Ͳ KƚŚĞƌƌĞĐĞŝǀĂďůĞƐ ϭϬϳ͘ϯϴ Ϯϱ͘ϮϮ Total Other Current Assets 608.11 307.64 Ύ/ŶĐůƵĚŝŶŐƌĞĐŽǀĞƌĂďůĞĨƌŽŵƌĞůĂƚĞĚƉĂƌƟĞƐ

165 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

;`ŝŶƌŽƌĞͿ Year ended Year ended WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 21. REVENUE FROM OPERATIONS a) Sale of Products &ŝŶŝƐŚĞĚŐŽŽĚƐ ϭϲ͕ϰϰϳ͘ϵϴ ϭϰ͕ϭϳϴ͘ϲϮ dƌĂĚĞĚŐŽŽĚƐ Ϯϴϭ͘ϴϰ ϰϯϵ͘ϰϵ /ŶƚĞƌͲĚŝǀŝƐŝŽŶƚƌĂŶƐĨĞƌ ϰ͕ϲϱϲ͘Ϭϲ Ϯ͕ϴϱϲ͘ϰϯ 21,385.88 17,474.54 b) KƚŚĞƌKƉĞƌĂƟŶŐZĞǀĞŶƵĞƐ ^ĐƌĂƉƐĂůĞ ϲϲ͘Ϭϴ ϰϯ͘ϴϳ džƉŽƌƚŝŶĐĞŶƟǀĞƐ ϲϴ͘ϵϭ ϯϵ͘ϲϭ ǀŝĂƟŽŶŝŶĐŽŵĞ ϭϳ͘Ϭϰ ϮϮ͘Ϯϱ KƚŚĞƌƐ ϯ͘ϵϵ ϭϳ͘ϵϳ 156.02 123.70 >ĞƐƐ͗/ŶƚĞƌͲĚŝǀŝƐŝŽŶƚƌĂŶƐĨĞƌ ;ϰ͕ϲϱϲ͘ϬϲͿ ;Ϯ͕ϴϱϲ͘ϰϯͿ dŽƚĂůZĞǀĞŶƵĞĨƌŽŵKƉĞƌĂƟŽŶƐ 16,885.84 14,741.81

;`ŝŶƌŽƌĞͿ Year ended Year ended WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 22. OTHER INCOME a) Dividend income on non-current investments ϭϯϬ͘Ϭϲ ϭϯϬ͘Ϭϲ ΀ŝŶĐůƵĚĞƐ`ϭϯϬ͘ϬϲĐƌŽƌĞĨƌŽŵĂƐƵďƐŝĚŝĂƌLJ ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭϯϬ͘ϬϲĐƌŽƌĞͿ΁ b) Net gain on sale of current investments Ϯ͘ϰϳ Ϭ͘ϰϰ c) KƚŚĞƌŶŽŶŽƉĞƌĂƟŶŐŝŶĐŽŵĞ WƌŽĮƚŽŶƐĂůĞͬƚƌĂŶƐĨĞƌŽĨĮdžĞĚĂƐƐĞƚƐ ϰ͘ϲϵ ϭϭ͘Ϭϲ >ŝĂďŝůŝƚLJͬƉƌŽǀŝƐŝŽŶƐŶŽůŽŶŐĞƌƌĞƋƵŝƌĞĚ͕ǁƌŝƩĞŶďĂĐŬ ϭ͘ϭϯ ϭϵ͘ϰϯ KƚŚĞƌƐ ϮϬ͘ϵϯ Ϯϯ͘ϰϵ Total Other Income 159.28 184.48 Total Revenue 17,045.12 14,926.29

166 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

;`ŝŶƌŽƌĞͿ Year ended Year ended WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 23. COST OF MATERIALS CONSUMED a) ZĂǁŵĂƚĞƌŝĂůĐŽŶƐƵŵĞĚ ϰ͕ϵϰϯ͘ϯϬ ϰ͕ϱϮϵ͘ϴϰ b) /ŶƚĞƌĚŝǀŝƐŝŽŶƚƌĂŶƐĨĞƌ ϰ͕ϲϱϲ͘Ϭϲ Ϯ͕ϴϱϲ͘ϰϯ ϵ͕ϱϵϵ͘ϯϲ ϳ͕ϯϴϲ͘Ϯϳ >ĞƐƐ͗/ŶƚĞƌĚŝǀŝƐŝŽŶƚƌĂŶƐĨĞƌ ;ϰ͕ϲϱϲ͘ϬϲͿ ;Ϯ͕ϴϱϲ͘ϰϯͿ Total Cost of Material Consumed 4,943.30 4,529.84

;`ŝŶƌŽƌĞͿ Year ended Year ended WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 24. WhZ,^K&^dK<ͳ/EͳdZ 286.58 452.75

;`ŝŶƌŽƌĞͿ Year ended Year ended WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 25. ,E'^/E/EsEdKZ/^K&&/E/^,'KK^͕tKZ<ͳ/E WZK^^E^dK<ͳ/EͳdZ KƉĞŶŝŶŐ^ƚŽĐŬͲ&ŝŶŝƐŚĞĚ'ŽŽĚƐ ϭ͕Ϯϳϵ͘ϭϳ ϴϳϮ͘ϱϬ ͲtŽƌŬŝŶWƌŽĐĞƐƐ ϭϳϵ͘Ϭϯ ϭϲϱ͘ϱϴ Ͳ^ĐƌĂƉ ϭϯ͘ϭϰ ϲ͘ϱϲ ϭ͕ϰϳϭ͘ϯϰ ϭ͕Ϭϰϰ͘ϲϰ ůŽƐŝŶŐ^ƚŽĐŬͲ&ŝŶŝƐŚĞĚ'ŽŽĚƐ ϭ͕ϰϰϬ͘ϱϬ ϭ͕Ϯϳϵ͘ϭϳ ͲtŽƌŬŝŶWƌŽĐĞƐƐ ϭϵϮ͘ϵϯ ϭϳϵ͘Ϭϯ Ͳ^ĐƌĂƉ ϭϭ͘ϯϭ ϭϯ͘ϭϰ ϭ͕ϲϰϰ͘ϳϰ ϭ͕ϰϳϭ͘ϯϰ EdΈ/EZ^ΉͬZ^/E^dK< (173.40) (426.70) džĐŝƐĞĚƵƚLJŽŶĂĐĐŽƵŶƚŽĨŝŶĐƌĞĂƐĞͬ;ĚĞĐƌĞĂƐĞͿ ŽŶƐƚŽĐŬŽĨĮŶŝƐŚĞĚŐŽŽĚƐ Ϯϱ͘ϮϬ ϰϳ͘ϰϲ dŽƚĂů;/ŶĐƌĞĂƐĞͿͬĞĐƌĞĂƐĞŝŶ^ƚŽĐŬ (148.20) (379.24)

;`ŝŶƌŽƌĞͿ Year ended Year ended WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 26. EMPLOYEE BENEFITS EXPENSE a) ^ĂůĂƌŝĞƐĂŶĚtĂŐĞƐ ϰϭϮ͘ϯϭ ϯϰϰ͘Ϯϰ b) ŽŶƚƌŝďƵƟŽŶƚŽWƌŽǀŝĚĞŶƚĂŶĚŽƚŚĞƌĨƵŶĚƐ ϭϵ͘Ϭϭ Ϯϳ͘ϭϱ c) ŵƉůŽLJĞĞƐĐŽŵƉĞŶƐĂƟŽŶĞdžƉĞŶƐĞƐƵŶĚĞƌŵƉůŽLJĞĞ^ƚŽĐŬKƉƟŽŶ Ͳ ;Ϭ͘ϴϯͿ ^ĐŚĞŵĞ΂EŽƚĞŶŽ͘ϰ;ĞͿ΃ d) ^ƚĂīǁĞůĨĂƌĞĞdžƉĞŶƐĞƐ ϭϲ͘ϱϳ ϭϰ͘ϴϴ dŽƚĂůŵƉůŽLJĞĞĞŶĞĮƚƐdžƉĞŶƐĞ 447.89 385.44

167 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

;`ŝŶƌŽƌĞͿ Year ended Year ended WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 27. FINANCE COST a) Interest Expense ĞďĞŶƚƵƌĞƐĂŶĚŽƚŚĞƌƚĞƌŵͲůŽĂŶƐ ϱϳϴ͘ϱϳ ϯϳϬ͘ϳϯ KƚŚĞƌƐ ϯϴϴ͘ϮϬ ϯϭϰ͘ϭϲ 966.77 684.89 b) >ĞƐƐ͗/ŶƚĞƌĞƐƚ/ŶĐŽŵĞ /ŶƚĞƌĞƐƚŽŶ/ŶƚĞƌͲĐŽƌƉŽƌĂƚĞĚĞƉŽƐŝƚƐ ;ϭϭϮ͘ϯϴͿ ;ϭϯϮ͘ϰϮͿ KƚŚĞƌƐ ;ϯϯ͘ϲϮͿ ;ϭϱ͘ϳϬͿ (146.00) (148.12) Total Finance Cost 820.77 536.77

;`ŝŶƌŽƌĞͿ Year ended Year ended WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 28. OTHER EXPENSES a) ŽŶƐƵŵƉƟŽŶŽĨƐƚŽƌĞƐĂŶĚƐƉĂƌĞƐ ϭ͕ϲϵϴ͘ϲϲ ϭ͕ϰϱϳ͘ϭϳ b) ŽŶƐƵŵƉƟŽŶŽĨƉŽǁĞƌĂŶĚĨƵĞů ϵϯϵ͘ϯϴ ϴϯϴ͘ϯϳ c) KƚŚĞƌŵĂŶƵĨĂĐƚƵƌŝŶŐĞdžƉĞŶƐĞƐ ϲϵϯ͘ϱϴ Ϯϱϵ͘ϲϲ d) ZĞƉĂŝƌĂŶĚDĂŝŶƚĞŶĂŶĐĞ WůĂŶƚĂŶĚŵĂĐŚŝŶĞƌLJ ϭϭϱ͘Ϯϰ ϭϰϬ͘ϵϵ ƵŝůĚŝŶŐ Ϯϴ͘ϵϰ ϯϱ͘ϲϳ KƚŚĞƌƐ ϭϮϲ͘ϲϴ ϭϭϮ͘ϵϵ e) ZŽLJĂůƚLJ ϭϴϱ͘ϯϰ ϭϳϮ͘ϵϲ f) ZĞŶƚΎ ϴ͘ϯϰ ϭϮ͘Ϯϳ g) ZĂƚĞƐĂŶĚdĂdžĞƐ Ϯϭ͘ϲϴ ϭϲ͘ϲϱ h) /ŶƐƵƌĂŶĐĞ ϭϲ͘ϳϲ ϭϰ͘ϰϲ i) WĂLJŵĞŶƚƚŽ^ƚĂƚƵƚŽƌLJƵĚŝƚŽƌƐ ƵĚŝƚĨĞĞƐ Ϭ͘ϱϬ Ϭ͘ϱϬ dĂdžĂƟŽŶŵĂƩĞƌƐ Ϭ͘ϭϬ Ϭ͘ϭϬ ŽŵƉĂŶLJůĂǁŵĂƩĞƌƐ Ͳ Ϭ͘Ϭϯ KƚŚĞƌƐĞƌǀŝĐĞƐ Ϭ͘ϭϯ Ϭ͘ϭϰ ZĞŝŵďƵƌƐĞŵĞŶƚŽĨĞdžƉĞŶƐĞƐ Ϭ͘Ϭϴ Ϭ͘Ϭϳ j) DŝƐĐĞůůĂŶĞŽƵƐĞdžƉĞŶƐĞƐ ϰϯϴ͘ϲϭ ϰϭϵ͘Ϭϱ ŬͿ >ŽƐƐĂƌŝƐŝŶŐĨƌŽŵďƵƐŝŶĞƐƐŝŶǀĞƐƚŵĞŶƚΎΎ Ϯϯϯ͘Ϭϯ ϭϲϳ͘ϮϬ l) WƌŽǀŝƐŝŽŶĨŽƌĚŝŵŝŶƵƟŽŶŝŶǀĂůƵĞŽĨďƵƐŝŶĞƐƐŝŶǀĞƐƚŵĞŶƚƐΎΎ ϯϰϭ͘Ϭϵ Ͳ m) ZĞƐĞĂƌĐŚĂŶĚĞǀĞůŽƉŵĞŶƚĞdžƉĞŶƐĞƐΎΎΎ ϭϰ͘Ϯϱ ϲ͘ϰϲ n) >ŽƐƐŽŶƐĂůĞͬĚŝƐĐĂƌĚŽĨĮdžĞĚĂƐƐĞƚƐ Ϭ͘ϲϲ ϱ͘ϯϯ o) ŽŶĂƟŽŶ ϰϭ͘ϲϲ ϴϳ͘ϵϴ

168 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

;`ŝŶƌŽƌĞͿ Year ended Year ended WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March, 2012 28. Kd,ZyWE^^ΈKEd͘Ή p) ŝƌĞĐƚŽƌƐƐŝƫŶŐĨĞĞƐ Ϭ͘ϭϴ Ϭ͘Ϭϴ q) ^ĞůůŝŶŐĞdžƉĞŶƐĞƐ ϰϮϬ͘ϬϮ ϯϰϵ͘ϵϭ r) ĂĚĚĞďƚƐͬƉƌŽǀŝƐŝŽŶĨŽƌĚŽƵďƞƵůĚĞďƚƐ Ͳ Ϭ͘ϭϬ s) &ŝŶĂŶĐŝĂůĞdžƉĞŶƐĞƐ ϵϱ͘ϱϴ ϭϯϵ͘Ϭϳ t) &ŽƌĞŝŐŶĞdžĐŚĂŶŐĞŇƵĐƚƵĂƟŽŶ;ŶĞƚͿ ϲϲ͘ϭϵ ϰϱ͘ϰϲ ΀ŶĞƚŽĨŝŶĐŽŵĞŽĨ`ϭϯϴ͘ϵϲĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϵϳ͘ϭϵĐƌŽƌĞͿ΁ Total Other Expenses 5,486.68 4,282.67

ΎdŚĞŽŵƉĂŶLJŚĂƐƉĂŝĚůĞĂƐĞƌĞŶƚĂůƐŽĨ`ϴ͘ϯϰĐƌŽƌĞ;ƉƌĞǀŝŽƵƐLJĞĂƌ`ϭϮ͘ϮϳĐƌŽƌĞͿƵŶĚĞƌĐĂŶĐĞůůĂďůĞŽƉĞƌĂƟŶŐůĞĂƐĞƐ͘dŚĞƌĞĂƌĞŶŽ ŶŽŶͲĐĂŶĐĞůůĂďůĞŽƉĞƌĂƟŶŐůĞĂƐĞƐ    ΎΎdžĐĞƉƟŽŶĂůŝƚĞŵ;ƌĞĨĞƌŶŽƚĞŶŽ͘ϯϰƚŽĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐͿ    ΎΎΎdžƉĞŶĚŝƚƵƌĞŽŶZĞƐĞĂƌĐŚĂŶĚĞǀĞůŽƉŵĞŶƚĂĐƟǀŝƟĞƐ͕ŝŶĐƵƌƌĞĚĚƵƌŝŶŐƚŚĞLJĞĂƌ͕ŝƐ`Ϯϴ͘ϱϳĐƌŽƌĞ;ŝŶĐůƵĚŝŶŐĐĂƉŝƚĂůĞdžƉĞŶĚŝƚƵƌĞŽĨ `ϭϰ͘ϯϮĐƌŽƌĞͿ;ƉƌĞǀŝŽƵƐLJĞĂƌ`ϴ͘ϵϳĐƌŽƌĞ͕ŝŶĐůƵĚŝŶŐĐĂƉŝƚĂůĞdžƉĞŶĚŝƚƵƌĞŽĨ`Ϯ͘ϱϭĐƌŽƌĞͿ

;`ŝŶƌŽƌĞͿ WĂƌƟĐƵůĂƌƐ Current Year Previous Year 29. CONTINGENT LIABILITIES AND COMMITMENTS I. ŽŶƟŶŐĞŶƚ>ŝĂďŝůŝƟĞƐŶŽƚƉƌŽǀŝĚĞĚĨŽƌŝŶƌĞƐƉĞĐƚŽĨ͗ ĞƐĐƌŝƉƟŽŶ ĂͿ 'ƵĂƌĂŶƚĞĞƐŝƐƐƵĞĚďLJƚŚĞŽŵƉĂŶLJ͛ƐĂŶŬĞƌƐŽŶďĞŚĂůĨŽĨƚŚĞ ϰϯϬ͘Ϭϱ ϯϳϲ͘ϬϮ ŽŵƉĂŶLJ ďͿ >ĞƩĞƌŽĨĐƌĞĚŝƚŽƉĞŶĞĚďLJďĂŶŬƐ ϳϴϲ͘ϳϮ ϲϮϴ͘ϵϬ ĐͿ ŽƌƉŽƌĂƚĞŐƵĂƌĂŶƚĞĞƐͬƵŶĚĞƌƚĂŬŝŶŐƐŝƐƐƵĞĚŽŶďĞŚĂůĨŽĨƚŚŝƌĚƉĂ ƌ Ɵ Ğ Ɛ ͘  ϱ͕Ϭϰϰ͘ϭϱ ϯ͕ϯϯϯ͘ϳϵ ĚͿ ŝƐƉƵƚĞĚdžĐŝƐĞƵƚLJĂŶĚKƚŚĞƌĚĞŵĂŶĚƐ ϵϯϳ͘ϭϳ ϳϴϬ͘ϵϲ ĞͿ &ƵƚƵƌĞůŝĂďŝůŝƚLJŽŶĂĐĐŽƵŶƚŽĨůĞĂƐĞƌĞŶƚĨŽƌƵŶĞdžƉŝƌĞĚƉĞƌŝŽĚ ϭϬ͘Ϭϱ ϭϯ͘ϭϱ ĨͿ ŽŶĚƐĞdžĞĐƵƚĞĚĨŽƌŵĂĐŚŝŶĞƌLJŝŵƉŽƌƚƐƵŶĚĞƌW'^ĐŚĞŵĞ ϯ͕Ϭϴϭ͘ϰϭ Ϯ͕ϳϳϯ͘ϮϮ ŐͿ /ŶĐŽŵĞdĂdžĚĞŵĂŶĚƐǁŚĞƌĞƚŚĞĐĂƐĞƐĂƌĞƉĞŶĚŝŶŐĂƚǀĂƌŝŽƵƐ ϭϵϭ͘ϵϰ ϭϴϳ͘ϳϲ ƐƚĂŐĞƐŽĨĂƉƉĞĂůǁŝƚŚƚŚĞĂƵƚŚŽƌŝƟĞƐ ŚͿ ůĂŝŵƐĂŐĂŝŶƐƚƚŚĞŽŵƉĂŶLJ͕ŶŽƚĂĐŬŶŽǁůĞĚŐĞĚĂƐĚĞďƚ ϯϲ͘ϭϲ Ͳ ŝͿ hŶĐĂůůĞĚůŝĂďŝůŝƚLJƚŽǁĂƌĚƐƉĂƌƚůLJƉĂŝĚƵƉƐŚĂƌĞƐ ϳϯ͘Ϯϳ Ͳ II. Commitments ƐƟŵĂƚĞĚĂŵŽƵŶƚŽĨĐŽŶƚƌĂĐƚƐƌĞŵĂŝŶŝŶŐƚŽďĞĞdžĞĐƵƚĞĚŽŶĐĂƉŝƚĂů 2,765.83 3,104.16 ĂĐĐŽƵŶƚĂŶĚŶŽƚƉƌŽǀŝĚĞĚĨŽƌ;ŶĞƚŽĨĂĚǀĂŶĐĞƐͿ

30. /ŶƚŚĞŽƉŝŶŝŽŶŽĨƚŚĞŽĂƌĚ͕ƵƌƌĞŶƚƐƐĞƚƐ͕>ŽĂŶƐĂŶĚĚǀĂŶĐĞƐŚĂǀĞĂǀĂůƵĞŽŶƌĞĂůŝƐĂƟŽŶŝŶƚŚĞŽƌĚŝŶĂƌLJĐŽƵƌƐĞŽĨďƵƐŝŶĞƐƐĂƚ ůĞĂƐƚĞƋƵĂůƚŽƚŚĞĂŵŽƵŶƚĂƚǁŚŝĐŚƚŚĞLJĂƌĞƐƚĂƚĞĚĂŶĚƉƌŽǀŝƐŝŽŶĨŽƌĂůůŬŶŽǁŶůŝĂďŝůŝƟĞƐŚĂƐďĞĞŶŵĂĚĞĂŶĚĐŽŶƐŝĚĞƌĞĚĂĚĞƋƵĂƚĞ͘ 31. ĂͿ WƌŽǀŝƐŝŽŶĨŽƌĐƵƌƌĞŶƚŝŶĐŽŵĞƚĂdžŚĂƐďĞĞŶŵĂĚĞĐŽŶƐŝĚĞƌŝŶŐǀĂƌŝŽƵƐďĞŶĞĮƚƐĂŶĚĂůůŽǁĂŶĐĞƐĂǀĂŝůĂďůĞƚŽƚŚĞŽŵƉĂŶLJ ƵŶĚĞƌƚŚĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚĞ/ŶĐŽŵĞdĂdžĐƚ͕ϭϵϲϭ͘  ďͿ DŽǀĞŵĞŶƚŽĨĚĞĨĞƌƌĞĚƚĂdžƉƌŽǀŝƐŝŽŶͬĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚĐĐŽƵŶƟŶŐ^ƚĂŶĚĂƌĚ;^ʹϮϮͿ͚ĐĐŽƵŶƟŶŐĨŽƌdĂdžĞƐŽŶ /ŶĐŽŵĞ͛ŝƐĂƐƵŶĚĞƌ͗

169 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

;`ŝŶƌŽƌĞͿ As on Charge/ As on Charge/ As on WĂƌƟĐƵůĂƌƐ 1st April, (Credit) 1st April, (Credit) 31st March, 2011 during 2011-12 2012 ĚƵƌŝŶŐƚŚĞLJĞĂƌ 2013 A. Deferred Tax Assets ĂͿ ŝƐĂůůŽǁĂŶĐĞƵͬƐϰϯͲŽĨƚŚĞ ;ϭϬϬ͘ϴϮͿ ;ϭϮ͘ϴϳͿ ;ϭϭϯ͘ϲϵͿ ;Ϯϱ͘ϵϰͿ ;ϭϯϵ͘ϲϯͿ /ŶĐŽŵĞdĂdžĐƚ͕ϭϵϲϭ ďͿ WƌŽǀŝƐŝŽŶĨŽƌĚŽƵďƞƵůĚĞďƚƐ ;ϭ͘ϱϭͿ ;Ϭ͘ϳϴͿ ;Ϯ͘ϮϵͿ Ͳ ;Ϯ͘ϮϵͿ ĐͿ WƌŽǀŝƐŝŽŶĨŽƌĚŝŵŝŶƵƟŽŶŝŶǀĂůƵĞŽĨ Ͳ Ͳ Ͳ ;ϭϭϰ͘ϬϯͿ ;ϭϭϰ͘ϬϯͿ ďƵƐŝŶĞƐƐŝŶǀĞƐƚŵĞŶƚƐ ĞĨĞƌƌĞĚdĂdžƐƐĞƚƐ ;ϭϬϮ͘ϯϯͿ ;ϭϯ͘ϲϱͿ ;ϭϭϱ͘ϵϴͿ ;ϭϯϵ͘ϵϳͿ ;Ϯϱϱ͘ϵϱͿ B. ĞĨĞƌƌĞĚdĂdž>ŝĂďŝůŝƟĞƐ ĂͿ ŝīĞƌĞŶĐĞďĞƚǁĞĞŶŬĂŶĚƚĂdž ϵϳϵ͘ϲϯ ϮϬϰ͘ϭϲ ϭ͕ϭϴϯ͘ϳϵ Ϯϴϳ͘ϭϮ ϭϰϳϬ͘ϵϭ ĚĞƉƌĞĐŝĂƟŽŶ ďͿ DŝƐĐĞůůĂŶĞŽƵƐdžƉĞŶĚŝƚƵƌĞ ϭ͘Ϭϯ ;ϭ͘ϬϯͿ Ͳ Ͳ Ͳ ĞĨĞƌƌĞĚdĂdž>ŝĂďŝůŝƟĞƐ ϵϴϬ͘ϲϲ ϮϬϯ͘ϭϯ ϭ͕ϭϴϯ͘ϳϵ Ϯϴϳ͘ϭϮ ϭ͕ϰϳϬ͘ϵϭ C. dŽƚĂůĞĨĞƌƌĞĚdĂdž>ŝĂďŝůŝƟĞƐ;EĞƚͿ 878.33 189.48 1,067.81 147.15 1,214.96

;`ŝŶƌŽƌĞ͕ĞdžĐĞƉƚƉĞƌƐŚĂƌĞĚĂƚĂͿ WĂƌƟĐƵůĂƌƐ Current Year Previous Year 32. ‘EARNINGS PER SHARE’, IN ACCORDANCE WITH ACCOUNTING ^dEZΈ^͵ϮϬΉ WƌŽĮƚĨŽƌƚŚĞLJĞĂƌĂŌĞƌƚĂdžĂƟŽŶ ϭ͕ϱϵϮ͘ϱϱ Ϯ͕ϭϭϬ͘ϲϱ WƌŽĮƚĂƩƌŝďƵƚĂďůĞƚŽŽƌĚŝŶĂƌLJƐŚĂƌĞŚŽůĚĞƌƐ ϭ͕ϱϵϮ͘ϱϱ Ϯ͕ϭϭϬ͘ϲϱ EƵŵďĞƌŽĨƋƵŝƚLJ^ŚĂƌĞƐ;ŝŶŶŽƐ͘Ϳ Ă Ϳ  /ƐƐƵĞĚĂŶĚƐƵďƐĐƌŝďĞĚ ϵϯ͕ϰϴ͕ϯϯ͕ϴϭϴ ϵϯ͕ϰϱ͕ϵϵ͕ϯϴϬ ďͿ EƵŵďĞƌŽĨƉŽƚĞŶƟĂůĞƋƵŝƚLJƐŚĂƌĞƐ;ƵŶĚĞƌŵƉůŽLJĞĞƐ͛ƐƚŽĐŬŽƉƟŽŶ Ͳ Ͳ ƐĐŚĞŵĞͿ dŽƚĂůŶƵŵďĞƌŽĨƐŚĂƌĞƐŝŶĐůƵĚŝŶŐƉŽƚĞŶƟĂůĞƋƵŝƚLJƐŚĂƌĞƐ ϵϯ͕ϰϴ͕ϯϯ͕ϴϭϴ ϵϯ͕ϰϱ͕ϵϵ͕ϯϴϬ ĂƐŝĐĞĂƌŶŝŶŐƐƉĞƌ^ŚĂƌĞ;`Ϳ ϭϳ͘Ϭϰ ϮϮ͘ϱϴ ŝůƵƚĞĚĞĂƌŶŝŶŐƐƉĞƌ^ŚĂƌĞ;`Ϳ ϭϳ͘Ϭϰ ϮϮ͘ϱϴ

;`ŝŶƌŽƌĞͿ Current Year Previous Year WĂƌƟĐƵůĂƌƐ 'ƌĂƚƵŝƚLJ Leave 'ƌĂƚƵŝƚLJ Leave Encashment Encashment 33. ‘EMPLOYEE BENEFITS’, IN ACCORDANCE WITH KhEd/E'^dEZΈ^ͳϭϱΉ A. ' ƌĂ ƚ Ƶ ŝ ƚ LJ  Θ  > Ğ Ă ǀ Ğ    Ŷ Đ Ă Ɛ Ś ŵ Ğ Ŷ ƚ  l ŽŵƉŽŶĞŶƚƐŽĨŵƉůŽLJĞƌdžƉĞŶƐĞ &ƵŶĚĞĚ EŽŶͲ&ƵŶĚĞĚ &ƵŶĚĞĚ EŽŶͲ&ƵŶĚĞĚ ϭ ƵƌƌĞŶƚ^ĞƌǀŝĐĞŽƐƚ ϱ͘Ϯϰ ϭϭ͘ϳϳ ϰ͘ϰϱ ϴ͘ϯϳ Ϯ /ŶƚĞƌĞƐƚŽƐƚ Ϯ͘ϰϵ ϰ͘Ϭϳ Ϯ͘ϮϬ Ϯ͘ϵϯ ϯ džƉĞĐƚĞĚZĞƚƵƌŶŽŶWůĂŶƐƐĞƚƐ ;Ϯ͘ϬϱͿ Ͳ ;ϭ͘ϲϯͿ Ͳ ϰ ƵƌƚĂŝůŵĞŶƚŽƐƚͬ;ƌĞĚŝƚͿ Ͳ Ͳ Ͳ Ͳ

170 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

;`ŝŶƌŽƌĞͿ Current Year Previous Year WĂƌƟĐƵůĂƌƐ 'ƌĂƚƵŝƚLJ Leave 'ƌĂƚƵŝƚLJ Leave Encashment Encashment 33. ‘EMPLOYEE BENEFITS’, IN ACCORDANCE WITH KhEd/E'^dEZΈ^ͳϭϱΉΈKEd͘Ή ϱ ^ĞƩůĞŵĞŶƚŽƐƚͬ;ƌĞĚŝƚͿ Ͳ Ͳ Ͳ Ͳ ϲ WĂƐƚ^ĞƌǀŝĐĞŽƐƚ Ϭ͘ϲϳ ϱ͘ϵϬ ;ϭ͘ϱϰͿ Ϯ͘ϭϰ ϳ ĐƚƵĂƌŝĂů>ŽƐƐĞƐͬ;'ĂŝŶƐͿ ϭ͘ϳϵ ;ϳ͘ϭϳͿ Ϭ͘ϱϴ ϰ͘ϴϭ ϴ dŽƚĂůĞdžƉĞŶƐĞƌĞĐŽŐŶŝƐĞĚŝŶƚŚĞ ϴ͘ϭϰ ϭϰ͘ϱϴ ϰ͘Ϭϲ ϭϴ͘Ϯϱ ^ƚĂƚĞŵĞŶƚŽĨWƌŽĮƚĂŶĚ>ŽƐƐ II ĐƚƵĂůZĞƚƵƌŶƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚ Ϯ͘ϭϮ Ͳ ϭ͘ϲϲ Ͳ March, 2013 lll EĞƚƐƐĞƚƐͬ;>ŝĂďŝůŝƚLJͿƌĞĐŽŐŶŝƐĞĚŝŶƚŚĞ Balance Sheet ϭ WƌĞƐĞŶƚǀĂůƵĞŽĨĞĮŶĞĚĞŶĞĮƚ ;ϯϳ͘ϴϯͿ ;ϲϬ͘ϭϴͿ ;ϯϬ͘ϰϱͿ ;ϱϬ͘ϮϭͿ KďůŝŐĂƟŽŶ Ϯ &ĂŝƌsĂůƵĞŽĨWůĂŶƐƐĞƚƐ Ϯϲ͘Ϯϲ Ͳ Ϯϭ͘ϰϰ Ͳ ϯ ^ƚĂƚƵƐ΂^ƵƌƉůƵƐͬ;ĞĮĐŝƚͿ΃;ϭͲϮͿ ;ϭϭ͘ϱϴͿ ;ϲϬ͘ϭϴͿ ;ϵ͘ϬϭͿ ;ϱϬ͘ϮϭͿ ϰ hŶƌĞĐŽŐŶŝƐĞĚWĂƐƚ^ĞƌǀŝĐĞŽƐƚ Ϭ͘ϬϬ Ͳ Ϭ͘ϲϳ Ͳ EĞƚƐƐĞƚƐͬ;>ŝĂďŝůŝƚLJͿƌĞĐŽŐŶŝƐĞĚŝŶ ;ϭϭ͘ϱϴͿ ;ϲϬ͘ϭϴͿ ;ϴ͘ϯϰͿ ;ϱϬ͘ϮϭͿ ƚŚĞĂůĂŶĐĞ^ŚĞĞƚ;ϯнϰͿ IV ŚĂŶŐĞŝŶĞĮŶĞĚĞŶĞĮƚKďůŝŐĂƟŽŶ;KͿ WƌĞƐĞŶƚsĂůƵĞŽĨKĂƚƚŚĞďĞŐŝŶŶŝŶŐŽĨƚŚĞ ;ϯϬ͘ϰϱͿ ;ϱϬ͘ϮϭͿ ;Ϯϲ͘ϯϬͿ ;ϯϲ͘ϵϴͿ LJĞĂƌ ϭ ƵƌƌĞŶƚ^ĞƌǀŝĐĞŽƐƚ ;ϱ͘ϮϰͿ ;ϭϭ͘ϳϳͿ ;ϰ͘ϰϱͿ ;ϴ͘ϯϳͿ Ϯ /ŶƚĞƌĞƐƚŽƐƚ ;Ϯ͘ϰϵͿ ;ϰ͘ϬϳͿ ;Ϯ͘ϮϬͿ ;Ϯ͘ϵϯͿ ϯ ƵƌƚĂŝůŵĞŶƚŽƐƚͬ;ƌĞĚŝƚͿ Ͳ Ͳ Ͳ Ͳ ϰ ^ĞƩůĞŵĞŶƚŽƐƚͬ;ƌĞĚŝƚͿ Ͳ Ͳ Ͳ Ͳ ϱ WůĂŶŵĞŶĚŵĞŶƚƐ Ͳ ;ϱ͘ϵϬͿ Ϯ͘Ϯϭ ;Ϯ͘ϭϰͿ ϲ ĐƋƵŝƐŝƟŽŶƐ Ϭ͘ϬϬ Ͳ ;Ϭ͘ϬϮͿ Ͳ ϳ ĐƚƵĂƌŝĂů;>ŽƐƐĞƐͿͬ'ĂŝŶƐ ;ϭ͘ϴϲͿ ϳ͘ϭϳ ;Ϭ͘ϲϮͿ ;ϰ͘ϴϭͿ ϴ ĞŶĞĮƚƐWĂŝĚ Ϯ͘Ϯϭ ϰ͘ϲϭ Ϭ͘ϵϯ ϱ͘Ϭϯ WƌĞƐĞŶƚsĂůƵĞŽĨKĂƚƚŚĞĞŶĚŽĨ ;ϯϳ͘ϴϯͿ ;ϲϬ͘ϭϴͿ ;ϯϬ͘ϰϱͿ ;ϱϬ͘ϮϭͿ ƚŚĞLJĞĂƌ V Change in Fair Value of Assets WůĂŶƐƐĞƚƐĂƚƚŚĞďĞŐŝŶŶŝŶŐŽĨƚŚĞ Ϯϭ͘ϰϰ Ͳ ϭϲ͘ϰϴ Ͳ LJĞĂƌ ϭ ĐƋƵŝƐŝƟŽŶĚũƵƐƚŵĞŶƚ Ϭ͘ϬϬ Ͳ Ϭ͘ϬϮ Ͳ Ϯ džƉĞĐƚĞĚZĞƚƵƌŶŽŶWůĂŶƐƐĞƚƐ Ϯ͘Ϭϱ Ͳ ϭ͘ϲϯ Ͳ ϯ ĐƚƵĂƌŝĂů;>ŽƐƐĞƐͿͬ'ĂŝŶƐ Ϭ͘Ϭϳ Ͳ Ϭ͘Ϭϯ Ͳ ϰ ĐƚƵĂůŽŵƉĂŶLJŽŶƚƌŝďƵƟŽŶ ϰ͘Ϯϵ Ͳ ϰ͘Ϯϭ ϱ͘Ϭϯ ϱ ĞŶĞĮƚWĂŝĚ ;ϭ͘ϲϬͿ Ͳ ;Ϭ͘ϵϯͿ ;ϱ͘ϬϯͿ WůĂŶƐƐĞƚƐĂƚƚŚĞĞŶĚŽĨƚŚĞLJĞĂƌ Ϯϲ͘Ϯϲ Ͳ Ϯϭ͘ϰϰ Ͳ Vl ĐƚƵĂƌŝĂůƐƐƵŵƉƟŽŶƐ ϭ ŝƐĐŽƵŶƚZĂƚĞ;йͿ ϴ͘ϬϬ ϴ͘ϬϬ ϴ͘ϱϬ ϴ͘ϱϬ Ϯ džƉĞĐƚĞĚZĞƚƵƌŶŽŶWůĂŶƐƐĞƚƐ;йͿ ϵ͘ϬϬ ϵ͘ϬϬ ϯ ^ĂůĂƌLJĞƐĐĂůĂƟŽŶƌĂƚĞ ϭϬ͘ϬϬ ϭϬ͘ϬϬ ϭϮ͘ϬϬ ϭϮ͘ϬϬ

171 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

'ƌĂƚƵŝƚLJ WĂƌƟĐƵůĂƌƐ 2012-13 2011-12 2010-11 2009-10 2008-09

VII džƉĞƌŝĞŶĐĞ,ŝƐƚŽƌLJ ϭ ĞĮŶĞĚďĞŶĞĮƚŽďůŝŐĂƟŽŶ ϯϳ͘ϴϯ ;ϯϬ͘ϱͿ ;Ϯϲ͘ϯͿ ;Ϯϭ͘ϭͿ ;ϵ͘ϱϭͿ Ϯ WůĂŶƐƐĞƚƐ Ϯϲ͘Ϯϲ Ϯϭ͘ϰϰ ϭϲ͘ϰϴ ϵ͘ϵϳ ϳ͘Ϭϰ ϯ ^ƵƌƉůƵƐͬ;ĞĮĐŝƚͿ ϭϭ͘ϱϴ ;ϵ͘ϬϭͿ ;ϵ͘ϴϮͿ ;ϭϭ͘ϮͿ ;Ϯ͘ϰϳͿ ϰ džƉĞƌŝĞŶĐĞ;>ŽƐƐͿͬ'ĂŝŶŽŶƉůĂŶůŝĂďŝůŝƟĞƐ ;Ϯ͘ϰϮͿ ;Ϭ͘ϲϮͿ ;Ϭ͘ϲϲͿ ;Ϭ͘ϮϮͿ Ϭ͘ϬϮ ϱ džƉĞƌŝĞŶĐĞ;>ŽƐƐͿͬ'ĂŝŶŽŶƉůĂŶĂƐƐĞƚƐ Ϭ͘Ϭϳ Ϭ͘Ϭϯ Ϭ͘ϭϮ ;Ϭ͘ϭͿ Ϭ͘Ϯϵ ϲ ĐƚƵĂƌŝĂů;>ŽƐƐͿͬ'ĂŝŶĚƵĞƚŽĐŚĂŶŐĞŽĨ Ϭ͘ϱϲ Ͳ ;ϭ͘ϭϴͿ Ϭ͘ϴϳ ;Ϭ͘ϰϰͿ ĂƐƐƵŵƉƟŽŶƐ

Leave Encashment WĂƌƟĐƵůĂƌƐ 2012-13 2011-12 2010-11 2009-10 2008-09 ϭ ĞĮŶĞĚďĞŶĞĮƚŽďůŝŐĂƟŽŶ ϲϬ͘ϭϴ ;ϱϬ͘ϮͿ ;ϯϳͿ ;ϯϭ͘ϵͿ ;Ϯϲ͘ϮͿ Ϯ WůĂŶƐƐĞƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ ϯ ^ƵƌƉůƵƐͬ;ĞĮĐŝƚͿ ϲϬ͘ϭϴ ;ϱϬ͘ϮͿ ;ϯϳͿ ;ϯϭ͘ϵͿ ;Ϯϲ͘ϮͿ ϰ džƉĞƌŝĞŶĐĞ;>ŽƐƐͿͬ'ĂŝŶŽŶƉůĂŶ ;ϴ͘ϮϲͿ ;ϰ͘ϴϭͿ ;ϭ͘ϵϰͿ ϰ͘ϵ ϲ͘ϭϮ ůŝĂďŝůŝƟĞƐ ϱ džƉĞƌŝĞŶĐĞ;>ŽƐƐͿͬ'ĂŝŶŽŶƉůĂŶĂƐƐĞƚƐ E͘͘ E͘͘ E͘͘ E͘͘ E͘͘ ϲ ĐƚƵĂƌŝĂů;>ŽƐƐͿͬ'ĂŝŶĚƵĞƚŽĐŚĂŶŐĞŽĨ ϭϱ͘ϰϮ Ͳ Ϯ͘Ϯϳ ;ϯ͘ϵͿ ;ϭ͘ϴͿ ĂƐƐƵŵƉƟŽŶƐ

B. Provident Fund  dŚĞŽŵƉĂŶLJĐŽŶƚƌŝďƵƚĞĚͬƉƌŽǀŝĚĞĚ`ϭϯ͘ϵϰĐƌŽƌĞĂŶĚ` ϮϮ͘ϵϳĐƌŽƌĞƚŽǁĂƌĚƐƉƌŽǀŝĚĞŶƚĨƵŶĚĚƵƌŝŶŐƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ ϮϬϭϯΘϯϭƐƚDĂƌĐŚ͕ϮϬϭϮƌĞƐƉĞĐƟǀĞůLJ͘  dŚĞ'ƵŝĚĂŶĐĞŽŶ/ŵƉůĞŵĞŶƟŶŐ^ϭϱ͕ŵƉůŽLJĞĞĞŶĞĮƚƐƐƚĂƚĞƐƚŚĂƚďĞŶĞĮƚƐŝŶǀŽůǀŝŶŐĞŵƉůŽLJĞƌĞƐƚĂďůŝƐŚĞĚƉƌŽǀŝĚĞŶƚĨƵŶĚƐ͕ ǁŚŝĐŚƌĞƋƵŝƌĞŝŶƚĞƌĞƐƚƐŚŽƌƞĂůůƐƚŽďĞƌĞĐŽŵƉĞŶƐĞĚĂƌĞƚŽďĞĐŽŶƐŝĚĞƌĞĚĂƐĚĞĮŶĞĚďĞŶĞĮƚƉůĂŶƐ͘dŚĞĐƚƵĂƌŝĂů^ŽĐŝĞƚLJŽĨ/ŶĚŝĂ ŚĂƐŝƐƐƵĞĚƚŚĞĮŶĂůŐƵŝĚĂŶĐĞĨŽƌŵĞĂƐƵƌĞŵĞŶƚŽĨƉƌŽǀŝĚĞŶƚĨƵŶĚůŝĂďŝůŝƟĞƐ͘dŚĞĂĐƚƵĂƌLJŚĂƐĂĐĐŽƌĚŝŶŐůLJƉƌŽǀŝĚĞĚĂǀĂůƵĂƟŽŶĂŶĚ ďĂƐĞĚŽŶƚŚĞďĞůŽǁĂƐƐƵŵƉƟŽŶƐŵĂĚĞĂƉƌŽǀŝƐŝŽŶŽĨ`ϵ͘ϯϲĐƌŽƌĞĂƐĂƚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ;WƌĞǀŝŽƵƐzĞĂƌ`ϭϬ͘ϯϴĐƌŽƌĞͿ͘

dŚĞĚĞƚĂŝůƐŽĨĨƵŶĚĂŶĚƉůĂŶĂƐƐĞƚƐƉŽƐŝƟŽŶĂƌĞŐŝǀĞŶďĞůŽǁ͗ As at 31st March, 2013 As at 31st March, 2012 WĂƌƟĐƵůĂƌƐ Provident Fund Interest Provident Fund Interest Guarantee Guarantee WůĂŶĂƐƐĞƚƐĂƚƉĞƌŝŽĚĞŶĚ͕ĂƚĨĂŝƌǀĂůƵĞ Ϯϭϰ͘ϴϴ ϭϳϮ͘ϲϯ WƌĞƐĞŶƚǀĂůƵĞŽĨďĞŶĞĮƚŽďůŝŐĂƟŽŶĂƚƉĞƌŝŽĚĞŶĚ Ϯϭϰ͘ϴϴ ϵ͘ϯϲ ϭϳϮ͘ϲϯ ϭϬ͘ϯϴ

ƐƐƵŵƉƟŽŶƐƵƐĞĚŝŶĚĞƚĞƌŵŝŶŝŶŐƚŚĞƉƌĞƐĞŶƚǀĂůƵĞŽďůŝŐĂƟŽŶŽĨƚŚĞŝŶƚĞƌĞƐƚƌĂƚĞŐƵĂƌĂŶƚĞĞƵŶĚĞƌĞƚĞƌŵŝŶŝƐƟĐƉƉƌŽĂĐŚ͗ 2012-13 2014 and 2011-12 2013 and WĂƌƟĐƵůĂƌƐ ƚŚĞƌĞĂŌĞƌ ƚŚĞƌĞĂŌĞƌ džƉĞĐƚĞĚZĞƚƵƌŶŽŶĂƐƐĞƚƐŽĨĞdžĞŵƉƚĞĚ ϴ͘ϰϬй ϴ͘ϰϬй ϴ͘ϮϬй ϴ͘ϮϬй ƉƌŽǀŝĚĞŶƚĨƵŶĚ džƉĞĐƚĞĚŐƵĂƌĂŶƚĞĞĚŝŶƚĞƌĞƐƚƌĂƚĞ ϴ͘ϲϬй ϴ͘ϲϬй ϴ͘ϲϬй ϴ͘ϲϬй ŝƐĐŽƵŶƚƌĂƚĞ ϴ͘ϬϬй ϴ͘ϱϬй

172 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

34. dŚĞŽŵƉĂŶLJŚĂƐŽǀĞƌƚŚĞLJĞĂƌƐ͕ĞdžƉĂŶĚĞĚŝƚƐƐƚĞĞů͕ƉŽǁĞƌ ƐĞŐŵĞŶƚƐĂƌĞŐĞŽŐƌĂƉŚŝĐĂůƐĞŐŵĞŶƚƐǁŚŝĐŚĂƌĞďĂƐĞĚŽŶ Θ ŵŝŶŝŶŐ ďƵƐŝŶĞƐƐĞƐ͕ ďŽƚŚ ŝŶ /ŶĚŝĂ ĂŶĚ ŝŶƚĞƌŶĂƟŽŶĂůůLJ͘ ƚŚĞƐĂůĞƐƚŽĐƵƐƚŽŵĞƌƐůŽĐĂƚĞĚŝŶ/ŶĚŝĂĂŶĚŽƵƚƐŝĚĞ/ŶĚŝĂ͘ dŚĞŽŵƉĂŶLJ͕ĂƐƉĂƌƚŽĨŐůŽďĂůĞdžƉĂŶƐŝŽŶŽĨŝƚƐĐŽƌĞƐƚĞĞů  ^ĞŐŵĞŶƚĂĐĐŽƵŶƟŶŐƉŽůŝĐŝĞƐĂƌĞŝŶůŝŶĞǁŝƚŚƚŚĞĂĐĐŽƵŶƟŶŐ ĂŶĚŵŝŶŝŶŐďƵƐŝŶĞƐƐĂŶĚŽŶďĞŝŶŐĂǁĂƌĚĞĚƚŚĞůDƵƚƵŶ /ƌŽŶ KƌĞ ĐŽŶƚƌĂĐƚ ;͞ŽŶƚƌĂĐƚ͟Ϳ ďLJ ƚŚĞ 'ŽǀĞƌŶŵĞŶƚ ŽĨ ƉŽůŝĐŝĞƐŽĨƚŚĞŽŵƉĂŶLJ͘/ŶĂĚĚŝƟŽŶ͕ƚŚĞĨŽůůŽǁŝŶŐƐƉĞĐŝĮĐ ŽůŝǀŝĂ͕ ŵĂĚĞ ƐƚƌĂƚĞŐŝĐ ďƵƐŝŶĞƐƐ ŝŶǀĞƐƚŵĞŶƚ ŝŶ ŽůŝǀŝĂ͕ ĂĐĐŽƵŶƟŶŐ ƉŽůŝĐŝĞƐ ŚĂǀĞ ďĞĞŶ ĨŽůůŽǁĞĚ ĨŽƌ ƐĞŐŵĞŶƚ ƚŚƌŽƵŐŚŝƚƐƐƵďƐŝĚŝĂƌŝĞƐŝŶŽůŝǀŝĂ͘/ŶǀŝĞǁŽĨǀĂƌŝŽƵƐƌĞĐĞŶƚ ƌĞƉŽƌƟŶŐ͗ ĚĞǀĞůŽƉŵĞŶƚƐ͕ ŝŶĐůƵĚŝŶŐ ƚĞƌŵŝŶĂƟŽŶ ŽĨ ƚŚĞ ĂĨŽƌĞƐĂŝĚ ĂͿ ^ĞŐŵĞŶƚ ƌĞǀĞŶƵĞ ŝŶĐůƵĚĞƐ ƐĂůĞƐ ĂŶĚ ŽƚŚĞƌ ŝŶĐŽŵĞ ŽŶƚƌĂĐƚǁŝƚŚƚŚĞŽůŝǀŝĂŶ'ŽǀĞƌŶŵĞŶƚ͕ƚŚĞĞŶƟƌĞďƵƐŝŶĞƐƐ ĚŝƌĞĐƚůLJ ŝĚĞŶƟĮĂďůĞ ǁŝƚŚͬĂůůŽĐĂďůĞ ƚŽ ƚŚĞ ƐĞŐŵĞŶƚ ŝŶǀĞƐƚŵĞŶƚŵĂĚĞďLJƚŚĞŽŵƉĂŶLJŝŶŽůŝǀŝĂŚĂĚŝŵƉĂŝƌĞĚ͘ ŝŶĐůƵĚŝŶŐŝŶƚĞƌͲƐĞŐŵĞŶƚƌĞǀĞŶƵĞ͘ ŽŶƐŝĚĞƌŝŶŐƚŚĞƐĂŵĞ͕ŝƚǁĂƐĚĞĐŝĚĞĚƚŽĚŝƐƉŽƐĞŽīϰϵй ŽĨ ƐƵĐŚ ŝŶǀĞƐƚŵĞŶƚ ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ƚŚĞ ƚĞƌŵƐ ŽĨ ƚŚĞ ďͿ džƉĞŶƐĞƐƚŚĂƚĂƌĞĚŝƌĞĐƚůLJŝĚĞŶƟĮĂďůĞǁŝƚŚͬĂůůŽĐĂďůĞ ƐĂŝĚŽŶƚƌĂĐƚŝŶŽƌĚĞƌƚŽƉƌĞǀĞŶƚĂŶLJĨƵƌƚŚĞƌďƵƐŝŶĞƐƐůŽƐƐ͘ ƚŽ ƐĞŐŵĞŶƚƐ ĂƌĞ ĐŽŶƐŝĚĞƌĞĚ ĨŽƌ ĚĞƚĞƌŵŝŶŝŶŐ ƚŚĞ ĐĐŽƌĚŝŶŐůLJ͕ŝŶŶŽƚĞϮϴ͞KƚŚĞƌĞdžƉĞŶƐĞƐ͟ŝŶƚŚĞ^ƚĂƚĞŵĞŶƚ ƐĞŐŵĞŶƚƌĞƐƵůƚƐ͘ ŽĨWƌŽĮƚĂŶĚ>ŽƐƐ͕͞>ŽƐƐĂƌŝƐŝŶŐĨƌŽŵďƵƐŝŶĞƐƐŝŶǀĞƐƚŵĞŶƚ͟ ŽĨ`Ϯϯϯ͘ϬϯĐƌŽƌĞƌĞƉƌĞƐĞŶƚƐůŽƐƐŽŶĚŝƐƉŽƐĂů͖ĂŶĚ`ϯϰϭ͘Ϭϵ ĐͿ džƉĞŶƐĞƐͬ/ŶĐŽŵĞƐǁŚŝĐŚƌĞůĂƚĞƐƚŽƚŚĞŽŵƉĂŶLJĂƐ ĐƌŽƌĞ͕ ĂƐ Ă ŵĂƩĞƌ ŽĨ ƉƌƵĚĞŶĐĞ͕ ƌĞƉƌĞƐĞŶƚƐ ͞WƌŽǀŝƐŝŽŶ ĂǁŚŽůĞĂŶĚŶŽƚĂůůŽĐĂďůĞƚŽƐĞŐŵĞŶƚƐĂƌĞŝŶĐůƵĚĞĚ ĨŽƌ ĚŝŵŝŶƵƟŽŶ ŝŶ ƚŚĞ ǀĂůƵĞ ŽĨ ďƵƐŝŶĞƐƐ ŝŶǀĞƐƚŵĞŶƚƐ͖͟ ŽĨ ƵŶĚĞƌ KƚŚĞƌ hŶͲĂůůŽĐĂďůĞ džƉĞŶĚŝƚƵƌĞ ;ŶĞƚ ŽĨ ĂĨŽƌĞƐĂŝĚ ďƵƐŝŶĞƐƐ ŝŶǀĞƐƚŵĞŶƚƐ͘ dŚĞ ƉƌĞǀŝŽƵƐ LJĞĂƌ ĮŐƵƌĞ hŶͲĂůůŽĐĂďůĞ/ŶĐŽŵĞͿ͘ ƌĞƉƌĞƐĞŶƚƐůŽƐƐŽŶĐĞƌƚĂŝŶŽƚŚĞƌŝŶǀĞƐƚŵĞŶƚ͘ ĚͿ ^ĞŐŵĞŶƚ ĂƐƐĞƚƐ ĂŶĚ ůŝĂďŝůŝƟĞƐ ŝŶĐůƵĚĞ ƚŚŽƐĞ ĚŝƌĞĐƚůLJ 35. Disclosure as RĞƋƵŝƌĞĚďLJĐĐŽƵŶƟŶŐ^ƚĂŶĚĂƌĚ;^ʹϭϳͿ ŝĚĞŶƟĮĂďůĞ ǁŝƚŚ ƌĞƐƉĞĐƟǀĞ ƐĞŐŵĞŶƚƐ͘ hŶͲĂůůŽĐĂďůĞ ͚^ĞŐŵĞŶƚZĞƉŽƌƟŶŐ͛ ĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐƌĞƉƌĞƐĞŶƚƚŚĞĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐ  dŚĞƉƌŝŵĂƌLJƌĞƉŽƌƚĂďůĞƐĞŐŵĞŶƚƐĂƌĞƚŚĞďƵƐŝŶĞƐƐƐĞŐŵĞŶƚƐ ƚŚĂƚƌĞůĂƚĞƚŽŽŵƉĂŶLJĂƐĂǁŚŽůĞĂŶĚŶŽƚĂůůŽĐĂďůĞ ŶĂŵĞůLJ/ƌŽŶΘ^ƚĞĞůĂŶĚWŽǁĞƌ͘dŚĞƐĞĐŽŶĚĂƌLJƌĞƉŽƌƚĂďůĞ ƚŽĂŶLJƐĞŐŵĞŶƚ͘

;`ŝŶƌŽƌĞͿ WĂƌƟĐƵůĂƌƐ Current Year Previous Year I. WƌŝŵĂƌLJ^ĞŐŵĞŶƚƐ;ƵƐŝŶĞƐƐ^ĞŐŵĞŶƚƐͿ 1. Segment Revenue ĂͿ /ƌŽŶΘ^ƚĞĞů ϭϱ͕ϴϳϱ͘ϵϮ ϭϰ͕ϭϯϭ͘ϯϰ ďͿ WŽǁĞƌ Ϯ͕Ϯϱϱ͘ϱϵ ϭ͕ϲϲϮ͘ϳϭ ĐͿ KƚŚĞƌƐ ϯϳϭ͘ϱϳ ϮϮϴ͘ϱϴ ^ƵďʹdŽƚĂů;'ƌŽƐƐͿ 18,503.08 16,022.63 >ĞƐƐ͗/ŶƚĞƌͲƐĞŐŵĞŶƚZĞǀĞŶƵĞ ϭ͕ϲϭϳ͘Ϯϰ ϭ͕ϮϴϬ͘ϴϮ EĞƚ^ĞŐŵĞŶƚZĞǀĞŶƵĞ 16,885.84 14,741.81 2. ^ĞŐŵĞŶƚZĞƐƵůƚƐ;WƌŽĮƚ;нͿͬ>ŽƐƐ;ͲͿďĞĨŽƌĞdĂdžĂŶĚŝŶƚĞƌĞƐƚĨƌŽŵĞĂĐŚ segment) ĂͿ /ƌŽŶΘ^ƚĞĞů ϯ͕Ϯϯϭ͘ϭϬ ϯ͕ϲϲϱ͘ϰϰ ďͿ WŽǁĞƌ ϴϵϴ͘ϯϬ ϲϬϱ͘ϯϭ ĐͿ KƚŚĞƌƐ ϯϳ͘ϭϬ Ϭ͘Ϭϯ ^ƵďʹdŽƚĂů 4,166.50 4,270.78 >ĞƐƐ͗/ŶƚĞƌĞƐƚ͕ĮŶĂŶĐŝĂůĞdžƉĞŶƐĞƐ ϵϮϬ͘ϵϬ ϲϴϮ͘ϲϳ KƚŚĞƌƵŶͲĂůůŽĐĂďůĞĞdžƉĞŶĚŝƚƵƌĞ;ŶĞƚŽĨƵŶͲĂůůŽĐĂďůĞŝŶĐŽŵĞͿ ϭ͕Ϭϭϳ͘ϭϬ ϳϰϱ͘ϭϬ WƌŽĮƚďĞĨŽƌĞdĂdž 2,228.50 2,843.01

173 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

;`ŝŶƌŽƌĞͿ WĂƌƟĐƵůĂƌƐ Current Year Previous Year WƌŽǀŝƐŝŽŶĨŽƌdĂdžĂƟŽŶ /ŶĐŽŵĞdĂdž ϰϴϴ͘ϴϬ ϱϰϮ͘ϴϴ ĞĨĞƌƌĞĚdĂdž ϭϰϳ͘ϭϱ ϭϴϵ͘ϰϴ WƌŽĮƚĨŽƌƚŚĞLJĞĂƌĂŌĞƌƚĂdž 1,592.55 2,110.65 3. KƚŚĞƌ/ŶĨŽƌŵĂƟŽŶ I Segment Assets ĂͿ /ƌŽŶΘ^ƚĞĞů ϭϳ͕ϳϱϯ͘ϲϮ ϭϰ͕ϴϬϲ͘ϬϮ ďͿ WŽǁĞƌ ϳ͕ϯϱϬ͘ϴϯ ϲ͕ϵϵϱ͘ϭϴ ĐͿ KƚŚĞƌƐ ϳϭϵ͘Ϯϴ ϲϵϬ͘ϳϯ ĚͿ hŶͲĂůůŽĐĂƚĞĚƐƐĞƚƐΎ ϭϯ͕ϵϴϲ͘ϮϬ ϭϭ͕Ϭϲϲ͘ϭϴ Total Assets 39,809.93 33,558.11 II ^ĞŐŵĞŶƚ>ŝĂďŝůŝƟĞƐ ĂͿ /ƌŽŶΘ^ƚĞĞů Ϯ͕ϵϲϲ͘ϯϬ ϭ͕ϵϮϭ͘ϴϭ ďͿ WŽǁĞƌ Ϯϭϱ͘ϴϰ ϭϮϵ͘ϭϰ ĐͿ KƚŚĞƌƐ ϭϲϴ͘Ϯϱ ϭϯϴ͘ϴϰ ĚͿ hŶͲĂůůŽĐĂƚĞĚ>ŝĂďŝůŝƟĞƐ ϰ͕ϲϭϲ͘ϰϳ ϰ͕ϳϱϲ͘Ϭϳ dŽƚĂů>ŝĂďŝůŝƟĞƐ 7,966.86 6,945.86 III ĂƉŝƚĂůdžƉĞŶĚŝƚƵƌĞ;/ŶĐůƵĚŝŶŐĂƉŝƚĂůǁŽƌŬŝŶƉƌŽŐƌĞƐƐͿ ĂͿ /ƌŽŶΘ^ƚĞĞů ϯ͕Ϯϲϱ͘ϲϬ ϯ͕ϰϱϯ͘ϳϱ ďͿ WŽǁĞƌ ϭ͕ϰϮϴ͘ϳϮ Ϯ͕ϰϭϵ͘ϴϬ ĐͿ KƚŚĞƌƐ ϱ͘ϳϬ ϭϯ͘ϭϰ Total 4,700.02 5,886.69 IV ĞƉƌĞĐŝĂƟŽŶΘŵŽƌƟƐĂƟŽŶdžƉĞŶƐĞƐ ĂͿ /ƌŽŶΘ^ƚĞĞů ϳϯϮ͘ϵϬ ϲϲϭ͘ϵϱ ďͿ WŽǁĞƌ Ϯϳϴ͘Ϭϱ ϭϲϴ͘ϱϬ ĐͿ KƚŚĞƌƐ ϯϳ͘ϱϭ ϯϲ͘ϳϰ Total 1,048.46 867.19 V EŽŶͲĂƐŚdžƉĞŶĚŝƚƵƌĞŽƚŚĞƌƚŚĂŶĞƉƌĞĐŝĂƟŽŶ ĂͿ /ƌŽŶΘ^ƚĞĞů Ͳ ;Ϭ͘ϳϯͿ ďͿ WŽǁĞƌ ͲͲ ĐͿ KƚŚĞƌƐ ϯϰϭ͘Ϭϵ ;ϭϭ͘ϱϰͿ Total 341.09 (12.27)

ΎhŶĂůůŽĐĂƚĞĚĂƐƐĞƚƐŝŶĐůƵĚĞĐĂƉŝƚĂůǁŽƌŬŝŶƉƌŽŐƌĞƐƐƌĞůĂƟŶŐƚŽŽŶŐŽŝŶŐƉƌŽũĞĐƚƐǁŝƚŚĐŽƌƌĞƐƉŽŶĚŝŶŐůŝĂďŝůŝƟĞƐƵŶĚĞƌƵŶĂůůŽĐĂƚĞĚ ůŝĂďŝůŝƟĞƐ͘

;`ŝŶƌŽƌĞͿ WĂƌƟĐƵůĂƌƐ Current Year Previous Year II. ^ĞĐŽŶĚĂƌLJ^ĞŐŵĞŶƚƐ;'ĞŽŐƌĂƉŚŝĐĂů^ĞŐŵĞŶƚƐͿ 1. ZĞǀĞŶƵĞďLJ'ĞŽŐƌĂƉŚŝĐĂůDĂƌŬĞƚ ĂͿ India ϭϱ͕Ϯϱϳ͘ϵϰ ϭϯ͕ϮϰϮ͘ϴϰ ďͿ KƵƚƐŝĚĞ/ŶĚŝĂ ϭ͕ϲϮϳ͘ϵϬ ϭ͕ϰϵϴ͘ϵϳ Total 16,885.84 14,741.81

2. All segments are located in India. Hence, no further disclosure is required.

174 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

36. /^>K^hZ^^ZYh/ZzKhEd/E'^dEZΈ^͵ϭϴΉ͚Z>dWZdz/^>K^hZ^͛

A. >ŝƐƚŽĨZĞůĂƚĞĚWĂƌƟĞƐĂŶĚZĞůĂƟŽŶƐŚŝƉƐ ϭϵ͘ :ŝŶĚĂůdĂŶnjĂŶŝĂ>ŝŵŝƚĞĚ a) Subsidiaries, Step down Subsidiaries ϮϬ͘ :ŝŶĚĂůĂŵďŝĂ>ŝŵŝƚĞĚ I. Subsidiaries Ϯϭ͘ :ŝŶĚĂůDŝŶŝŶŐ/ŶĚƵƐƚƌLJ>>;ĐĞĂƐĞĚƚŽ

ϭ͘ :ŝŶĚĂůWŽǁĞƌ>ŝŵŝƚĞĚ ĞdžŝƐƚĂƐƐƵďƐŝĚŝĂƌLJǁ͘Ğ͘ĨϲƚŚ ĞĐĞŵďĞƌ͕ϮϬϭϮͿ Ϯ͘ :ŝŶĚĂů^ƚĞĞůŽůŝǀŝĂ^ ϮϮ͘ :^W>DŽnjĂŵďŝƋƵĞDŝŶĞƌĂŝƐ> ϯ͘ :ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌ;DĂƵƌŝƟƵƐͿ >ŝŵŝƚĞĚ Ϯϯ͘ :ƵďůŝĞŶƚKǀĞƌƐĞĂƐ>ŝŵŝƚĞĚ ϰ͘ ^ŬLJŚŝŐŚKǀĞƌƐĞĂƐ>ŝŵŝƚĞĚ;ĞŵĞƌŐĞĚ Ϯϰ͘ KƐŚŽDĂĚĂŐĂƐĐĂƌ^Z> ĨƌŽŵ:^WD>Ϳ Ϯϱ͘ Wd:ŝŶĚĂůKǀĞƌƐĞĂƐ II. Subsidiaries of Jindal Power Limited Ϯϲ͘ ZŽůůŝŶŐ,ŝůůƐZĞƐŽƵƌĐĞƐ>>;hŶĚĞƌ ϭ͘ ƩƵŶůŝ,LJĚƌŽůĞĐƚƌŝĐWŽǁĞƌŽŵƉĂŶLJ ůŝƋƵŝĚĂƟŽŶͿ >ŝŵŝƚĞĚ Ϯϳ͘ ^ŚĂĚĞĞĚ/ƌŽŶΘ^ƚĞĞů>> Ϯ͘ ƚĂůŝŶ,LJĚƌŽůĞĐƚƌŝĐWŽǁĞƌŽŵƉĂŶLJ Ϯϴ͘ dĂďůĞƚůƵĞdƌĂĚĞĂŶĚ/ŶǀĞƐƚ;WƚLJͿ >ŝŵŝƚĞĚ >ŝŵŝƚĞĚ ϯ͘ :ŝŶĚĂů,LJĚƌŽWŽǁĞƌ>ŝŵŝƚĞĚ Ϯϵ͘ dƌĂŶƐƐŝĂDŝŶŝŶŐWƚĞ͘>ŝŵŝƚĞĚ ϰ͘ :ŝŶĚĂůWŽǁĞƌŝƐƚƌŝďƵƟŽŶ>ŝŵŝƚĞĚ ϯϬ͘ dƌĂŶƐƚůĂŶƟĐdƌĂĚŝŶŐ>ŝŵŝƚĞĚ ϱ͘ ŵďŝƟŽƵƐWŽǁĞƌdƌĂĚŝŶŐŽŵƉĂŶLJ ϯϭ͘ sŝƐŝŽŶKǀĞƌƐĞĂƐ>ŝŵŝƚĞĚ >ŝŵŝƚĞĚ;&ŽƌŵĞƌůLJ:ŝŶĚĂůWŽǁĞƌ ϯϮ͘ tŽƌƚŚKǀĞƌƐĞĂƐ>ŝŵŝƚĞĚ dƌĂĚŝŶŐŽŵƉĂŶLJ>ŝŵŝƚĞĚͿ ;DĞƌŐĞĚǁŝƚŚ:^WD>Ϳ ϲ͘ :ŝŶĚĂůWŽǁĞƌdƌĂŶƐŵŝƐƐŝŽŶ>ŝŵŝƚĞĚ ϯϯ͘ WĂŶĂĐŽƌĞ/ŶǀĞƐƚŵĞŶƚ>ŝŵŝƚĞĚ ϳ͘ <ĂŵĂůĂ,LJĚƌŽůĞĐƚƌŝĐWŽǁĞƌŽ͘>ƚĚ V. Others ;&ŽƌŵĞƌůLJ^ƵďĂŶƐŝƌŝ,LJĚƌŽůĞĐƚƌŝĐ ϭ͘ ĞůĚĞŵƉƌĞĞŶĚŝŵĞŶƚŽƐDŝŶĞŝƌŽƐ WŽǁĞƌŽŵƉĂŶLJ>ŝŵŝƚĞĚͿ >ŝŵŝƚĞĚ͕ĂƐƵďƐŝĚŝĂƌLJŽĨ:^W> III. Subsidiaries of Skyhigh Overseas Limited DŽnjĂŵďŝƋƵĞDŝŶĞƌĂŝƐ> ϭ͘ 'ĂƐƚŽ>ŝƋƵŝĚƐ/ŶƚĞƌŶĂƟŽŶĂů^͘ Ϯ͘ ĂƐƚĞƌŶ^ŽůŝĚ&ƵĞůƐ;WƚLJͿ>ŝŵŝƚĞĚ͕ IV. Subsidiaries of Jindal Steel & Power ĂƐƵďƐŝĚŝĂƌLJŽĨ:ŝŶĚĂůDŝŶŝŶŐΘ ;DĂƵƌŝƟƵƐͿ>ŝŵŝƚĞĚ džƉůŽƌĂƟŽŶ>ŝŵŝƚĞĚ ϭ͘ ŶĚƵƌŝŶŐKǀĞƌƐĞĂƐ/ŶĐ ϯ͘ Wd,/DŝŶŝŶŐ/ŶĚŽŶĞƐŝĂ͕ĂƐƵďƐŝĚŝĂƌLJ Ϯ͘ ,ĂƌŵŽŶLJKǀĞƌƐĞĂƐ>ŝŵŝƚĞĚ ŽĨ:ŝŶĚĂů/ŶǀĞƐƚŵĞŶƚ,ŽůĚŝŶŐ>ƚĚ ϯ͘ :ŝŶĨƌŝĐĂ>ŝŵŝƚĞĚ ϰ͘ Wd^ƵŵďĞƌ^ƵƌLJĂ'ĞŵŝůĂŶŐ͕Ă ƐƵďƐŝĚŝĂƌLJŽĨWd͘,/DŝŶŝŶŐ/ŶĚŽŶĞƐŝĂ ϰ͘ :ŝŶĚĂůĨƌŝĐĂ/ŶǀĞƐƚŵĞŶƚƐ;WƚLJͿ>ŝŵŝƚĞĚ ϱ͘ WdDĂƌƵǁĂŝĂƌĂďĂĚŝ͕ĂƐƵďƐŝĚŝĂƌLJ ϱ͘ :ŝŶĚĂůĨƌŝĐĂ>ŝďĞƌŝĂ>ŝŵŝƚĞĚ ŽĨWd͘,/DŝŶŝŶŐ/ŶĚŽŶĞƐŝĂ ϲ͘ :ŝŶĚĂůĨƌŝĐĂ^ ϲ͘ :ŝŶĚĂůDŝŶŝŶŐ;WƚLJͿ>ŝŵŝƚĞĚ͕ĂƐƵďƐŝĚŝĂƌLJ ϳ͘ :ŝŶĚĂůŽƚƐǁĂŶĂ;WƚLJͿ>ŝŵŝƚĞĚ ŽĨĂƐƚĞƌŶ^ŽůŝĚ&ƵĞůƐ;WƚLJͿ>ŝŵŝƚĞĚ ϴ͘ :ŝŶĚĂůƌĂƐŝůDŝŶĞƌĂĕĆŽ^ͬ ϳ͘ ŽŶͲdĞƌƌĂDŝŶŝŶŐ;WƚLJͿ>ŝŵŝƚĞĚ͕Ă ϵ͘ :ŝŶĚĂů;s/Ϳ>ƚĚ ƐƵďƐŝĚŝĂƌLJŽĨ:ŝŶĚĂů;s/Ϳ>ƚĚ ϭϬ͘ :ŝŶĚĂů/ŶǀĞƐƟŵĞŶƚŽƐ> ϴ͘ /;ĂƌďĂĚŽƐͿ,ŽůĚŝŶŐŽƌƉ͕Ă ƐƵďƐŝĚŝĂƌLJŽĨ:ŝŶĚĂů;s/Ϳ>ƚĚ ϭ ϭ ͘  :ŝŶĚĂů/ŶǀĞƐƚŵĞŶƚ,ŽůĚŝŶŐ>ŝŵŝƚĞĚ ϵ͘ /ŶĞƌŐLJ;ĂŚĂŵĂƐͿ>ŝŵŝƚĞĚ͕Ă ϭϮ͘ :ŝŶĚĂůDĂĚĂŐĂƐĐĂƌ^Z> ƐƵďƐŝĚŝĂƌLJŽĨ:ŝŶĚĂů;s/Ϳ>ƚĚ ϭϯ͘ :ŝŶĚĂůDŝŶŝŶŐΘdžƉůŽƌĂƟŽŶ>ŝŵŝƚĞĚ ϭϬ͘ :ŝŶĚĂůŶĞƌŐLJ;ŽƚƐǁĂŶĂͿWƚLJ>ŝŵŝƚĞĚ͕Ă ϭϰ͘ :ŝŶĚĂůDŝŶŝŶŐEĂŵŝďŝĂ;WƚLJͿ>ŝŵŝƚĞĚ ƐƵďƐŝĚŝĂƌLJŽĨ:ŝŶĚĂů;s/Ϳ>ƚĚ ϭϱ͘ :ŝŶĚĂůWŽǁĞƌ>>;ĐĞĂƐĞĚƚŽĞdžŝƐƚĂƐ ϭϭ͘ :ŝŶĚĂůŶĞƌŐLJ;^ͿWƚLJ>ŝŵŝƚĞĚ͕Ă ƐƵďƐŝĚŝĂƌLJǁ͘Ğ͘ĨϲƚŚĞĐĞŵďĞƌ͕ϮϬϭϮͿ ƐƵďƐŝĚŝĂƌLJŽĨ:ŝŶĚĂů;s/Ϳ>ƚĚ ϭϲ͘ :ŝŶĚĂů^ƚĞĞůΘDŝŶĞƌĂůƐŝŵďĂďǁĞ ϭϮ͘ /dƌĂŶƐĂĨƌŝĐĂ;ĂƌďĂĚŽƐͿŽƌƉ͕Ă >ŝŵŝƚĞĚ ƐƵďƐŝĚŝĂƌLJŽĨ:ŝŶĚĂů;s/Ϳ>ƚĚ ϭϳ͘ :ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌ;Ϳ>ŝŵŝƚĞĚ ϭϯ͘ :ŝŶĚĂůZĞƐŽƵƌĐĞƐ;ŽƚƐǁĂŶĂͿWƚLJ ϭϴ͘ :ŝŶĚĂů^ƚĞĞůĂŶĚWŽǁĞƌ;ƵƐƚƌĂůŝĂͿWƚLJ >ŝŵŝƚĞĚ͕ĂƐƵďƐŝĚŝĂƌLJŽĨ/dƌĂŶƐĂĨƌŝĐĂ >ŝŵŝƚĞĚ ;ĂƌďĂĚŽƐͿŽƌƉ

175 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

36. /^>K^hZ^^ZYh/ZzKhEd/E'^dEZΈ^͵ϭϴΉ͚Z>dWZdz/^>K^hZ^͛ΈKEd͘Ή

ϭϰ͘ dƌĂŶƐĨƌŝĐĂZĂŝů;WƚLJͿ>ŝŵŝƚĞĚ͕ c) Joint Ventures ĂƐƵďƐŝĚŝĂƌLJŽĨ/dƌĂŶƐĂĨƌŝĐĂ ϭ͘ :ŝŶĚĂů^LJŶĨƵĞůƐ>ŝŵŝƚĞĚ ;ĂƌďĂĚŽƐͿŽƌƉ Ϯ͘ ^ŚƌĞƐŚƚDŝŶŝŶŐĂŶĚDĞƚĂůƐWƌŝǀĂƚĞ>ŝŵŝƚĞĚ ϭϱ͘ ^ĂĚͲůĞĐ;WƚLJͿ>ŝŵŝƚĞĚ͕ĂƐƵďƐŝĚŝĂƌLJŽĨ ϯ͘ hƌƚĂŶEŽƌƚŚDŝŶŝŶŐWƌŝǀĂƚĞ>ŝŵŝƚĞĚ :ŝŶĚĂůĞŶĞƌŐLJ;^ͿƉƚLJ>ƚĚ d) <ĞLJDĂŶĂŐĞŵĞŶƚWĞƌƐŽŶŶĞů ϭϲ͘ /;ĂƌďĂĚŽƐͿDŝŶŝŶŐŽƌƉ͕ĂƐƵďƐŝĚŝĂƌLJ ŽĨ/;ĂƌĂĚŽƐͿ,ŽůĚŝŶŐŽƌƉ ϭ͘ ^ŚƌŝEĂǀĞĞŶ:ŝŶĚĂů ϭϳ͘ /;ĂƌďĂĚŽƐͿŶĞƌŐLJŽƌƉ͕ĂƐƵďƐŝĚŝĂƌLJ Ϯ ͘ ^ Ś ƌ ŝ  Z Ă ǀ ŝ  h Ɖ Ɖ Ă ů   ; ǁ ͘ Ğ ͘ Ĩ͘  ϭ Ɛ ƚ  K Đ ƚ Ž ď Ğ ƌ͕  Ϯ Ϭ ϭ Ϯ Ϳ  ŽĨ/;ĂƌĂĚŽƐͿ,ŽůĚŝŶŐŽƌƉ ϯ͘ ^ŚƌŝŶĂŶĚ'ŽĞů ϭϴ͘ DĞĞƉŽŶŐZĞƐŽƵƌĐĞƐ;DĂƵƌŝƚƵƐͿ;WƚLJͿ ϰ͘ ^ŚƌŝsŝŬƌĂŶƚ'ƵũƌĂů;ƵƉƚŽϵƚŚEŽǀĞŵďĞƌ͕ >ŝŵŝƚĞĚ͕ĂƐƵďƐŝĚŝĂƌLJŽĨ/;ĂƌďĂĚŽƐͿ ϮϬϭϮͿ DŝŶŝŶŐŽƌƉ ϱ͘ ^Śƌŝ<^ĂƌĂŽŐŝ;ǁ͘Ğ͘Ĩ͘ϵƚŚEŽǀĞŵďĞƌ͕ϮϬϭϮͿ ϭϵ͘ DĞĞƉŽŶŐZĞƐŽƵƌĐĞƐ;WƚLJͿ>ŝŵŝƚĞĚ͕ ϲ͘ ^ŚƌŝEĂƵƐŚĂĚŬŚƚĂƌŶƐĂƌŝ;ƵƉƚŽϯϬƚŚ ĂƐƵďƐŝĚŝĂƌLJŽĨDĞĞƉŽŶŐZĞƐŽƵƌĐĞƐ Ɖƌŝů͕ϮϬϭϮͿ ;DĂƵƌŝƚƵƐͿ;WƚLJͿ>ŝŵŝƚĞĚ ϳ͘ ^ŚƌŝD͘>͘'ƵƉƚĂ;ǁ͘Ğ͘Ĩ͘ϮϳƚŚƉƌŝů͕ϮϬϭϮƵƉƚŽ ϮϬ͘ DĞĞƉŽŶŐŶĞƌŐLJ;DĂƵƌŝƚƵƐͿ;WƚLJͿ ϵƚŚEŽǀĞŵďĞƌ͕ϮϬϭϮͿ >ŝŵŝƚĞĚ͕ĂƐƵďƐŝĚŝĂƌLJŽĨ/;ĂƌďĂĚŽƐͿ e) ŶƚĞƌƉƌŝƐĞƐŽǀĞƌǁŚŝĐŚ<ĞLJDĂŶĂŐĞŵĞŶƚ ŶĞƌŐLJŽƌƉ WĞƌƐŽŶŶĞůĂŶĚƚŚĞŝƌƌĞůĂƟǀĞƐĞdžĞƌĐŝƐĞƐŝŐŶŝĮĐĂŶƚ Ϯϭ͘ DĞĞƉŽŶŐŶĞƌŐLJ;WƚLJͿ>ŝŵŝƚĞĚ͕ ŝŶŇƵĞŶĐĞĂŶĚǁŝƚŚǁŚŽŵƚƌĂŶƐĂĐƟŽŶƐŚĂǀĞ ĂƐƵďƐŝĚŝĂƌLJŽĨDĞĞƉŽŶŐŶĞƌŐLJ ƚĂŬĞŶƉůĂĐĞĚƵƌŝŶŐƚŚĞLJĞĂƌ ;DĂƵƌŝƚƵƐͿ;WƚLJͿ>ŝŵŝƚĞĚ ϭ͘ :^t^ƚĞĞů>ŝŵŝƚĞĚ ϮϮ͘ DĞĞƉŽŶŐ^ĞƌǀŝĐĞ;WƚLJͿ>ŝŵŝƚĞĚ͕Ă Ϯ͘ :^tŶĞƌŐLJ>ŝŵŝƚĞĚ ƐƵďƐŝĚŝĂƌLJŽĨDĞĞƉŽŶŐŶĞƌŐLJ;WƚLJͿ >ŝŵŝƚĞĚ ϯ͘ :ŝŶĚĂů^Ăǁ>ƚĚ͘ Ϯϯ͘ DĞĞƉŽŶŐtĂƚĞƌ;WƚLJͿ>ŝŵŝƚĞĚ͕Ă ϰ͘ :ŝŶĚĂů^ƚĂŝŶůĞƐƐ>ƚĚ͘ ƐƵďƐŝĚŝĂƌLJŽĨDĞĞƉŽŶŐŶĞƌŐLJ;WƚLJͿ ϱ͘ /ŶĚŝĂ&ůLJƐĂĨĞǀŝĂƟŽŶ>ŝŵŝƚĞĚ >ŝŵŝƚĞĚ ϲ͘ :ŝŶĚĂůZĞĂůŝƚLJWǀƚ͘>ƚĚ͘ Ϯϰ͘ ŽƌĞŵďŝƟŽŶ>ƚĚ͕ĂƐƵďƐŝĚŝĂƌLJŽĨ ϳ͘ dƌŝ^ŚĂŬƟZĞĂůƐƚĂƚĞWǀƚ͘>ŝŵŝƚĞĚ WĂŶĂĐŽƌĞ/ŶǀĞƐƚŵĞŶƚ>ƚĚ ϴ͘ ďŚŝŶĂŶĚĂŶ/ŶǀĞƐƚŵĞŶƚƐ>ƚĚ͘ Ϯϱ͘ ŽƌĞ&ŽƌƚĞ>ƚĚ͕ĂƐƵďƐŝĚŝĂƌLJŽĨ ϵ͘ :ŝŶĚĂů^LJƐƚĞŵWǀƚ͘>ƚĚ͘ WĂŶĂĐŽƌĞ/ŶǀĞƐƚŵĞŶƚ>ƚĚ ϭϬ͘ 'ĂŐĂŶ/ŶĨƌĂĞŶĞƌŐLJ>ƚĚ͘ Ϯϲ͘ ŽƌĞ/ŶƚĞŐƌŝƚLJ>ƚĚ͕ĂƐƵďƐŝĚŝĂƌLJŽĨ WĂŶĂĐŽƌĞ/ŶǀĞƐƚŵĞŶƚ>ƚĚ ϭϭ͘ ŽůŽƌĂĚŽdƌĂĚŝŶŐŽ͘>ƚĚ͘ Ϯϳ͘ ŽƌĞsŝƐŝŽŶ>ƚĚ͕ĂƐƵďƐŝĚŝĂƌLJŽĨ ϭϮ͘ EĂůǁĂŶŐŝŶĞĞƌŝŶŐŽ͘>ƚĚ͘ WĂŶĂĐŽƌĞ/ŶǀĞƐƚŵĞŶƚ>ƚĚ ϭϯ͘ KƉĞůŝŶĂ&ŝŶĂŶĐĞĂŶĚ/ŶǀĞƐƚŵĞŶƚ>ŝŵŝƚĞĚ b) Associates ϭϰ͘ :ŝŶĚĂů/ŶĚƵƐƚƌŝĞƐ>ŝŵŝƚĞĚ ϭ͘ ŶŐƵů^ƵŬŝŶĚĂZĂŝůǁĂLJ>ŝŵŝƚĞĚ ϭϱ͘ :ŝŶĚĂůŽĂůWǀƚ͘>ŝŵŝƚĞĚ Ϯ͘ 'ƵũĂƌĂƚEZŽŬŝŶŐŽĂů>ŝŵŝƚĞĚ ϭϲ͘ DŝŶĞƌĂůƐDĂŶĂŐĞŵĞŶƚ^ĞƌǀŝĐĞƐ;/ŶĚŝĂͿWǀƚ͘ ϯ͘ :&Ăď/ŶĨƌĂWƌŝǀĂƚĞ>ŝŵŝƚĞĚ >ƚĚ͘ ϰ͘ :ŝŶĚĂů/ŶĨŽƐŽůƵƟŽŶƐ>ŝŵŝƚĞĚ;ĐĞĂƐĞĚƚŽĞdžŝƐƚ ϭϳ͘ zEK&ŝŶǀĞƐƚWǀƚ͘>ƚĚ͘ ĂƐƐƵďƐŝĚŝĂƌLJǁ͘Ğ͘ĨϮϰƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϭϮͿ ϭϴ͘ :ŝŶĚĂůZĞdždžƉůŽƌĂƟŽŶWǀƚ͘>ƚĚ͘ ϱ͘ <ŽůĞŬŽZĞƐŽƵƌĐĞƐ ϭϵ͘ ŝƌWůĂŶƚĂƟŽŶƐWǀƚ>ƚĚ ϲ͘ EĂůǁĂ^ƚĞĞůΘWŽǁĞƌ>ŝŵŝƚĞĚ ϮϬ͘ EĂůǁĂ/ŶǀĞƐƚŵĞŶƚ>ƚĚ͘ ϳ͘ WĂŶĂĐŽƌĞ^ŚŝƉƉŝŶŐWƚĞ>ƚĚ͕^ŝŶŐĂƉŽƌĞ Ϯϭ͘ ZŽŚŝƚdŽǁĞƌƐƵŝůĚŝŶŐƐ>ƚĚ ϴ͘ WƌŽĚŝƐLJŶĞ;WƚLJͿ>ƚĚ ϮϮ͘ hƩĂŵsŝĚLJƵƚdƌĂŶƐŵŝƐƐŝŽŶWǀƚ>ƚĚ ϵ͘ ^ƵŶŐƵ^ƵŶŐƵWƚLJ>ŝŵŝƚĞĚ Ϯϯ͘ /ŶĚŝĂsĞŶƚƵƌĞĚǀŝƐŽƌƐWǀƚ͘>ƚĚ͘ Ϯϰ ŽŶĂŶĂnjĂdƌĂĚŝŶŐŽŵƉĂŶLJWƌŝǀĂƚĞ>ŝŵŝƚĞĚ

176 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

B dƌĂŶƐĂĐƟŽŶƐǁŝƚŚZĞůĂƚĞĚWĂƌƟĞƐ ;`ŝŶƌŽƌĞͿ ĞƐĐƌŝƉƟŽŶ Subsidiaries, Step <ĞLJDĂŶĂŐĞŵĞŶƚ Enterprises controlled down Subsidiaries, Personnel ďLJ<ĞLJDĂŶĂŐĞŵĞŶƚ Associates and Joint personnel and their ventures ƌĞůĂƟǀĞƐ Current Previous Current Previous Current Previous Year Year Year Year Year Year WƵƌĐŚĂƐĞŽĨ'ŽŽĚƐͬ^ĞƌǀŝĐĞƐ ϭ͕ϰϱϯ͘Ϭϳ ϭ͕ϲϰϴ͘ϯϯ ϱϲ͘ϭϮ ϯϳ͘ϱϬ ^ĂůĞƐŽĨ'ŽŽĚƐ;ŝŶĐů͘ĐĂƉŝƚĂůŐŽŽĚƐͿ ϱϮϵ͘Ϭϳ ϰϰϭ͘ϵϴ ϭ͕Ϭϯϱ͘ϰϮ ϭ͕ϬϲϮ͘ϳϳ ZĞŶĚĞƌŝŶŐŽĨ^ĞƌǀŝĐĞƐ ϳ͘ϵϴ ϲ͘ϰϵ Ϯ͘ϭϳ Ϯ͘ϴϵ ^ĂůĞŽĨ/ŶǀĞƐƚŵĞŶƚƐ ϭϭϭ͘ϭϴ Ͳ /ŶǀĞƐƚŵĞŶƚŝŶƋƵŝƚLJ^ŚĂƌĞƐͬ ϱϴϵ͘ϳϯ ϯϬϳ͘ϵϯ ƉƌĞĨĞƌĞŶĐĞƐŚĂƌĞƐ ĚǀĂŶĐĞĂŐĂŝŶƐƚƐŚĂƌĞ ϭϰϯ͘ϳϰ ϭϬϬ͘ϳϯ ϯϯ͘ϮϬ ƉƉůŝĐĂƟŽŶŵŽŶĞLJ KƚŚĞƌĚǀĂŶĐĞƐŐŝǀĞŶͬ;ƚĂŬĞŶͿ ϰϳ͘ϴϮ ;Ϭ͘ϲϵͿ Ϭ͘ϲϵ ;ϯϰ͘ϯϳͿ ;ϭϴ͘ϰϮͿ ^ĞĐƵƌŝƚLJĞƉŽƐŝƚ'ŝǀĞŶͬ;ƚĂŬĞŶͿ ;Ϭ͘ϱϬͿ Ϭ͘ϳϱ ϱϬ͘ϬϬ ZĞŶƚĂŶĚŽƚŚĞƌĞdžƉĞŶƐĞƐWĂŝĚ ϲ͘ϰϭ Ͳ Ϭ͘Ϯϰ /ŶƚĞƌĞƐƚƌĞĐĞŝǀĞĚͬ;ƉĂŝĚͿ΂ŶĞƚ΃ ;ϮϭϮ͘ϱϱͿ ;ϭϱϴ͘ϱϵͿ ϯϰ͘Ϯϵ ϯϵ͘ϯϴ ŝǀŝĚĞŶĚƌĞĐĞŝǀĞĚͬ;ƉĂŝĚͿ ϭϯϬ͘Ϭϲ ϭϯϬ͘Ϭϲ ZĞŵƵŶĞƌĂƟŽŶΎ ϲϯ͘Ϭϰ ϴϬ͘ϭϮ >ĞĂƐĞƌĞŶƚƌĞĐĞŝǀĞĚ Ϯ͘ϰϭ ϯ͘ϬϬ ,ŝƌĞĐŚĂƌŐĞƐƉĂŝĚ ϯϳ͘ϴϬ Ϯϳ͘ϯϴ 'ƵĂƌĂŶƚĞĞƐͬŽƌƉŽƌĂƚĞŐƵĂƌĂŶƚĞĞƐ ;ϭ͕ϴϵϳ͘ϵϭͿ ;ϭϰϯ͘ϯϭͿ ŽďƚĂŝŶĞĚͬ;ŐŝǀĞŶͿ /ŶƚĞƌĐŽƌƉŽƌĂƚĞĚĞƉŽƐŝƚƐŐŝǀĞŶ ϴϱϯ͘ϰϱ ϮϬϴ͘ϭϱ ϴ͘ϲϰ /ŶƚĞƌŽƌƉŽƌĂƚĞĚĞƉŽƐŝƚƐ ϳϰϯ͘ϯϴ ;ϭϴϳ͘ϱϬͿ ϯϯ͘ϮϬ ;ϯϯ͘ϬϰͿ ZĞƉĂŝĚͬĚũƵƐƚĞĚ /ŶƚĞƌŽƌƉŽƌĂƚĞĚĞƉŽƐŝƚƐǁƌŝƩĞŶŽī Ϯϯ͘ϳϯ ;ϱϭ͘ϯϬͿ /ŶƚĞƌĐŽƌƉŽƌĂƚĞĚĞƉŽƐŝƚƐƚĂŬĞŶ ϴϳϭ͘ϬϬ ϭ͕ϲϴϴ͘ϬϬ /ŶƚĞƌĐŽƌƉŽƌĂƚĞĚĞƉŽƐŝƚƐƌĞĨƵŶĚĞĚ ϭ͕ϲϭϵ͘ϬϬ ϳϮϬ͘ϬϬ KƵƚƐƚĂŶĚŝŶŐĂůĂŶĐĞĂƚƚŚĞLJĞĂƌĞŶĚ /ŶǀĞƐƚŵĞŶƚŝŶƋƵŝƚLJƐŚĂƌĞƐ ϭ͕ϲϯϭ͘ϰϭ ϭ͕ϯϳϭ͘ϳϳ 'ƵĂƌĂŶƚĞĞƐKƵƚƐƚĂŶĚŝŶŐ ϰ͕ϴϱϭ͘ϱϭ ϯ͕ϭϴϵ͘ϲϱ ϭϲ͘ϲϲ /ŶƚĞƌŽƌƉŽƌĂƚĞĞƉŽƐŝƚƐdĂŬĞŶ ϭ͕ϳϯϴ͘ϱϲ Ϯ͕ϰϴϲ͘ϱϲ ĚǀĂŶĐĞͬƐĞĐƵƌŝƚLJĚĞƉŽƐŝƚ;ƚĂŬĞŶĨƌŽŵͿͬ ;Ϭ͘ϱϬͿ Ͳ ϴ͘ϱϬ ŐŝǀĞŶƚŽĐƵƐƚŽŵĞƌΘKƚŚĞƌƐ >ŽĂŶƐĂŶĚĚǀĂŶĐĞƐ;ŝŶĐůƵĚŝŶŐ/ŶƚĞƌĞƐƚͿ ϭ͕ϯϭϭ͘ϲϱ ϭ͕ϭϵϮ͘ϲϭ Ϭ͘ϲϵ ϯϳϵ͘Ϭϱ ϰϴϳ͘ϯϵ ĚǀĂŶĐĞĂŐĂŝŶƐƚ^ŚĂƌĞ ϱϴ͘ϮϮ ϵϳ͘Ϭϰ ϯϯ͘ϮϬ ƉƉůŝĐĂƟŽŶŵŽŶĞLJ ĞďƚŽƌƐͲƌ͘ĂůĂŶĐĞ ϭϬϬ͘Ϯϯ ϭϲ͘ϱϳ ϭϱϲ͘ϯϲ ϭϭϵ͘ϮϮ ƌ͘ĂůĂŶĐĞ ϲ͘ϱϵ Ͳ Ϭ͘ϰϬ Ͳ ƌĞĚŝƚŽƌƐͲƌ͘ĂůĂŶĐĞ ϭϰ͘ϴϱ Ϯϴ͘ϴϴ ϭϬϴ͘ϱϮ ϳ͘Ϭϰ ƌ͘ĂůĂŶĐĞ ϲϰ͘ϲϭ ϭϯϮ͘Ϭϵ ϲ͘ϭϲ Ϯ͘Ϯϱ

ΎZĞůĂƚĞĚWĂƌƚLJƌĞŵƵŶĞƌĂƟŽŶŝŶĐůƵĚĞƐ`Ϭ͘ϮϲĐƌŽƌĞ;ƉƌĞǀŝŽƵƐLJĞĂƌ`Ϭ͘ϮϰĐƌŽƌĞͿƉĂŝĚƚŽƌĞůĂƟǀĞƐŽĨ<ĞLJDĂŶĂŐĞŵĞŶƚWĞƌƐŽŶŶĞů͘

177 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

C ŝƐĐůŽƐƵƌĞŝŶƌĞƐƉĞĐƚŽĨŵĂƚĞƌŝĂůƌĞůĂƚĞĚƉĂƌƚLJƚƌĂŶƐĂĐƟŽŶƐĚƵƌŝŶŐƚŚĞLJĞĂƌ 1 DĂƚĞƌŝĂůƚƌĂŶƐĂĐƟŽŶƐǁŝƚŚ^ƵďƐŝĚŝĂƌŝĞƐ͕^ƚĞƉŽǁŶ^ƵďƐŝĚŝĂƌŝĞƐĂŶĚƐƐŽĐŝĂƚĞƐ ;`ŝŶƌŽƌĞͿ Name of Related Jindal Jindal Jindal Steel Jindal Steel Shadeed ^ŬLJŚŝŐŚ Nalwa Steel indal WĂƌƚLJ Power Mozambique & power Bolivia Iron & Overseas & Power Mining Limited Minerals LDA ;DĂƵƌŝƟƵƐͿ Steel, Oman Limited Limited ^;WƚLJͿ Limited Limited ZĞůĂƟŽŶƐŚŝƉ Year ^ƵďƐŝĚŝĂƌLJ ^ƵďƐŝĚŝĂƌLJ ^ƵďƐŝĚŝĂƌLJ ^ƵďƐŝĚŝĂƌLJ ^ƵďƐŝĚŝĂƌLJ ^ƵďƐŝĚŝĂƌLJ Associate ^ƵďƐŝĚŝĂƌLJ WƵƌĐŚĂƐĞŽĨ'ŽŽĚƐͬ ϮϬϭϮͲϭϯ ϮϬϱ͘Ϯϲ Ͳ  Ͳ  Ͳ  ϱϯϴ͘ϭϮ Ͳ  ϱϭϴ͘Ϯϳ ϭϳϬ͘Ϭϰͮ ^ĞƌǀŝĐĞƐ ϮϬϭϭͲϭϮ Ϯϯϴ͘ϳϱ Ͳ  Ͳ  Ͳ  ϴϲϴ͘ϯϳ Ͳ  ϯϵϲ͘ϴϯ ϭϯϵ͘ϴϭ ^ĂůĞŽĨ'ŽŽĚƐ ϮϬϭϮͲϭϯ ϭϵϰ͘Ϭϱ ϲ͘ϱϱ Ͳ Ͳ ϭϯϰ͘ϵϯ Ͳ ϭϵϯ͘Ϭϳ  Ͳ  ϮϬϭϭͲϭϮ ϲϯ͘ϲϱ Ͳ Ͳ Ͳ ϭϮ͘ϲϵ Ͳ ϯϲϭ͘ϵϭ ϭ͘ϲϳ ^ĂůĞŽĨŝŶǀĞƐƚŵĞŶƚ ϮϬϭϮͲϭϯ Ͳ ϭϭϭ͘Ϭϯ Ͳ Ͳ Ͳ Ͳ Ͳ ϮϬϭϭͲϭϮ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ ZĞŶĚĞƌŝŶŐŽĨƐĞƌǀŝĐĞƐ ϮϬϭϮͲϭϯ ϳ͘ϵϴ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  ϮϬϭϭͲϭϮ ϲ͘Ϭϵ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ /ŶǀĞƐƚŵĞŶƚŽĨƋƵŝƚLJ ϮϬϭϮͲϭϯ Ͳ Ͳ ϮϲϮ͘ϯϯ ϭϳϳ͘Ϯϴ Ͳ ϭϭϭ͘Ϭ ϯ  Ͳ  Ͳ  ϮϬϭϭͲϭϮ Ͳ Ͳ ϭϱϮ͘ϰϳ ϲϳ͘ϰϲ Ͳ Ͳ Ͳ Ͳ ĚǀĂŶĐĞĂŐĂŝŶƐƚ ϮϬϭϮͲϭϯ Ͳ Ͳ Ͳ ϭϮϰ͘ϵϬ Ͳ Ͳ Ͳ Ͳ ƐŚĂƌĞĂƉƉůŝĐĂƟŽŶ ϮϬϭϭͲϭϮ Ͳ Ͳ Ͳ ϴϭ͘ϯϰ Ͳ Ͳ Ͳ Ͳ money KƚŚĞƌĂĚǀĂŶĐĞƐŐŝǀĞŶ ϮϬϭϮͲϭϯ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  ϮϬϭϭͲϭϮ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ ϰϳ͘ϱϬ Ͳ /ŶƚĞƌĞƐƚƌĞĐĞŝǀĞĚ ϮϬϭϮͲϭϯ Ͳ Ͳ ϯϯ͘Ϯϱ Ͳ Ͳ Ͳ Ͳ Ͳ ϮϬϭϭͲϭϮ Ͳ Ͳ ϲϯ͘Ϯϵ Ͳ Ͳ Ͳ Ͳ Ͳ /ŶƚĞƌĞƐƚƉĂŝĚ ϮϬϭϮͲϭϯ Ϯϰϱ͘ϴϬ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ ϮϬϭϭͲϭϮ ϮϮϮ͘ϯϱ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ ŝǀŝĚĞŶĚZĞĐĞŝǀĞĚ ϮϬϭϮͲϭϯ ϭϯϬ͘Ϭϲ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  ϮϬϭϭͲϭϮ ϭϯϬ͘Ϭϲ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ ŽƌƉŽƌĂƚĞŐƵĂƌĂŶƚĞĞͬ ϮϬϭϮͲϭϯ Ͳ Ͳ ϭ͕ϲϭϱ͘ϯϲ Ͳ ϮϴϮ͘ϱϱ Ͳ Ͳ Ͳ 'ƵĂƌĂŶƚĞĞŽďƚĂŝŶĞĚͬ ϮϬϭϭͲϭϮ Ͳ Ͳ Ϯϱ͘ϱϴ ϵϵ͘ϯϭ Ͳ Ͳ Ͳ ϭϴ͘ϰϮ ;ŐŝǀĞŶͿ /ŶƚĞƌĐŽƌƉŽƌĂƚĞ ϮϬϭϮͲϭϯ Ͳ Ͳ ϴϱϭ͘ϭϳ Ͳ Ͳ Ͳ Ͳ Ͳ ĚĞƉŽƐŝƚƐŐŝǀĞŶ ϮϬϭϭͲϭϮ Ͳ Ͳ ϮϬϬ͘ϰϵ Ͳ Ͳ Ͳ Ͳ Ͳ /ŶƚĞƌĐŽƌƉŽƌĂƚĞ ϮϬϭϮͲϭϯ Ͳ ;ϳϯϵ͘ϭϴͿ Ͳ Ͳ Ͳ Ͳ Ͳ ĚĞƉŽƐŝƚƐƌĞƉĂŝĚͬ ϮϬϭϭͲϭϮ Ͳ Ͳ ;ϵϵ͘ϰϱͿ Ͳ Ͳ Ͳ Ͳ Ͳ ĂĚũƵƐƚĞĚ /ŶƚĞƌĐŽƌƉŽƌĂƚĞ ϮϬϭϮͲϭϯ Ͳ Ͳ ;Ϯϯ͘ϳϯͿ Ͳ Ͳ Ͳ Ͳ Ͳ ĚĞƉŽƐŝƚƐǁƌŝƩĞŶŽī ϮϬϭϭͲϭϮ Ͳ Ͳ ;ϱϭ͘ϯϬͿ Ͳ Ͳ Ͳ Ͳ Ͳ /ŶƚĞƌĐŽƌƉŽƌĂƚĞ ϮϬϭϮͲϭϯ ϴϳϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ ĚĞƉŽƐŝƚƐƚĂŬĞŶ ϮϬϭϭͲϭϮ ϭ͕ϲϴϴ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ /ŶƚĞƌĐŽƌƉŽƌĂƚĞ ϮϬϭϮͲϭϯ ϭ͕ϲϭϵ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ ĚĞƉŽƐŝƚƐƌĞĨƵŶĚĞĚ ϮϬϭϭͲϭϮ ϳϮϬ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ

178 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

2 DĂƚĞƌŝĂůƚƌĂŶƐĂĐƟŽŶƐǁŝƚŚŶƚĞƌƉƌŝƐĞƐĐŽŶƚƌŽůůĞĚďLJ<ĞLJDĂŶĂŐĞŵĞŶƚWĞƌƐŽŶŶĞůĂŶĚͬŽƌƚŚĞŝƌƌĞůĂƟǀĞƐ ;`ŝŶƌŽƌĞͿ Name of Year JSW Steel :^tŶĞƌŐLJ Jindal Jindal Saw Jindal dƌŝ^ŚĂŬƟ Minerals India ZĞůĂƚĞĚWĂƌƚLJ Ltd. Mumbai Limited Stainless Limited ZĞĂůŝƚLJ Real Estate Management &ůLJƐĂĨĞ ͬĞůůĂƌLJ Ltd. Hissar/ Pvt. Ltd. Pvt. Ltd. Service (India) ǀŝĂƟŽŶ Jajpur Pvt. Ltd. Limited WƵƌĐŚĂƐĞŽĨ ϮϬϭϮͲϭϯ ϯϮ͘ϬϮ Ͳ ϲ͘ϲϳ ϭϳ͘ϰϮ Ͳ Ͳ Ͳ Ͳ 'ŽŽĚƐͬ^ĞƌǀŝĐĞƐ ϮϬϭϭͲϭϮ Ϯϲ͘ϳϮ Ͳ ϲ͘ϯϳ ϰ͘ϯϱ Ͳ Ͳ Ͳ Ͳ ^ĂůĞŽĨ'ŽŽĚƐ ϮϬϭϮͲϭϯ Ϯϳϯ͘ϰϯ Ϭ͘ϵϭ ϯϲ͘Ϭϱ ϳϭϱ͘ϳϬ ϴ͘ϭϴ Ͳ ϭ͘ϭϰ Ͳ ϮϬϭϭͲϭϮ Ϯϯϰ͘ϭϲ ϯ͘ϲϭ ϯϯ͘ϱϮ ϳϴϳ͘ϴϮ Ϭ͘ϭϵ Ͳ Ͳ Ͳ ZĞŶĚĞƌŝŶŐŽĨ ϮϬϭϮͲϭϯ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ ƐĞƌǀŝĐĞƐ ϮϬϭϭͲϭϮ Ͳ Ͳ Ϭ͘Ϭϰ Ϭ͘ϱϭ Ϭ͘ϳϵ Ͳ Ͳ Ͳ ĚǀĂŶĐĞ ϮϬϭϮͲϭϯ Ͳ Ͳ Ͳ Ͳ Ͳ ϯϯ͘ϮϬ Ͳ Ͳ ĂŐĂŝŶƐƚƐŚĂƌĞ ϮϬϭϭͲϭϮ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ ĂƉƉůŝĐĂƟŽŶ money KƚŚĞƌĂĚǀĂŶĐĞƐ ϮϬϭϮͲϭϯ ϭϲ͘ϬϬ Ͳ Ͳ Ϭ͘ϮϬ ;Ϭ͘ϱϳͿ ;ϱϬ͘ϬϬͿ ŐŝǀĞŶͬ;ƚĂŬĞŶͿ ϮϬϭϭͲϭϮ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ ;ϭϴ͘ϰϳͿ ^ĞĐƵƌŝƚLJĞƉŽƐŝƚ ϮϬϭϮͲϭϯ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ 'ŝǀĞŶ ϮϬϭϭͲϭϮ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ ϱϬ͘ϬϬ Ͳ /ŶƚĞƌĞƐƚ ϮϬϭϮͲϭϯ Ϭ͘ϬϮ ϭ͘ϵϱ ϯϮ͘ϯϯ Ͳ Ͳ ƌĞĐĞŝǀĞĚ ϮϬϭϭͲϭϮ Ϭ͘ϱϱ Ͳ Ͳ Ͳ ϯϱ͘ϵϬ Ϯ͘ϵϰ Ͳ Ͳ >ĞĂƐĞZĞŶƚ ϮϬϭϮͲϭϯ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ϯ͘ϰϭ ZĞĐĞŝǀĞĚ ϮϬϭϭͲϭϮ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ ϯ͘ϬϬ ,ŝƌĞŚĂƌŐĞƐ ϮϬϭϮͲϭϯ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ ϯϳ͘ϴϬ WĂŝĚ ϮϬϭϭͲϭϮ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ϯϳ͘Ϯϵ /ŶƚĞƌŽƌƉŽƌĂƚĞ ϮϬϭϮͲϭϯ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ ĚĞƉŽƐŝƚƐŐŝǀĞŶ ϮϬϭϭͲϭϮ Ͳ Ͳ Ͳ Ͳ Ͳ ϴ͘ϲϰ Ͳ Ͳ /ŶƚĞƌŽƌƉŽƌĂƚĞ ϮϬϭϮͲϭϯ Ͳ Ͳ Ͳ Ͳ Ͳ ;ϯϯ͘ϮϬͿ Ͳ Ͳ ĚĞƉŽƐŝƚƐƌĞƉĂŝĚͬ ϮϬϭϭͲϭϮ Ͳ Ͳ Ͳ Ͳ ;ϯϯ͘ϬϰͿ Ͳ Ͳ Ͳ ĂĚũƵƐƚĞĚ

3 DĂƚĞƌŝĂůdƌĂŶƐĂĐƟŽŶƐǁŝƚŚ<ĞLJDĂŶĂŐĞŵĞŶƚWĞƌƐŽŶŶĞů WĂƌƟĐƵůĂƌƐ Year Shri Shri Ravi Shri Shri DK Shri Shri Shri ML Naveen Uppal Anand Saraogi sŝŬƌĂŶƚ Naushad Gupta Jindal Goel Gujral ŬŚƚĞƌ Ansari ZĞŵƵŶĞƌĂƟŽŶ ϮϬϭϮͲϭϯ ϱϰ͘ϵϴ ϯ͘ϬϮ Ϯ͘ϲϰ Ϭ͘ϰϭ ϭ͘ϯϮ Ϭ͘Ϯϱ Ϭ͘ϭϲ ϮϬϭϭͲϭϮ ϳϯ͘ϰϮ Ͳ Ϯ͘ϰϲ Ͳ Ϯ͘ϵϴ ϭ͘ϬϮ Ͳ >ŽĂŶƐĂŶĚ ϮϬϭϮͲϭϯ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ ĂĚǀĂŶĐĞƐŐŝǀĞŶ ϮϬϭϭͲϭϮ Ϭ͘ϭϴ Ͳ Ϭ͘ϱϬ Ͳ Ϭ͘Ϭϭ Ͳ Ͳ

179 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

37. DISCLOSURE AS PER CLAUSE 32 OF LISTING AGREEMENT >ŽĂŶƐĂŶĚĚǀĂŶĐĞƐŝŶƚŚĞŶĂƚƵƌĞŽĨ>ŽĂŶƐŐŝǀĞŶƚŽ^ƵďƐŝĚŝĂƌŝĞƐ͕ƐƐŽĐŝĂƚĞƐĂŶĚKƚŚĞƌƐ͗ ;`ŝŶƌŽƌĞͿ EĂŵĞŽĨƚŚĞŽŵƉĂŶLJ ZĞůĂƟŽŶƐŚŝƉ Amount outstanding Maximum balance outstanding As at 31st As at 31st during during March, 2013 March, 2012 ƚŚĞLJĞĂƌ ƚŚĞLJĞĂƌ :ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌ ^ƵďƐŝĚŝĂƌLJ ϭ͕Ϭϯϴ͘ϱϴ ϵϰϯ͘ϵϳ ϭ͕ϬϳϬ͘ϱϰ ϭ͕ϭϯϬ͘ϴϳ ;DĂƵƌŝƟƵƐͿ>ŝŵŝƚĞĚ :&ĂďŝŶĨƌĂWƌŝǀĂƚĞ>ŝŵŝƚĞĚ ƐƐŽĐŝĂƚĞ Ͳ ϳ͘ϮϮ ϳ͘ϮϮ ϳ͘ϮϮ ;ĂƌůŝĞƌŬŶŽǁŶĂƐ&ŝŶĨƌĂ WƌŝǀĂƚĞ>ŝŵŝƚĞĚͿ

EŽƚĞƐ͗ ĂͿ ůůƚŚĞĂďŽǀĞůŽĂŶƐĂŶĚĂĚǀĂŶĐĞƐŝŶƚŚĞŶĂƚƵƌĞŽĨůŽĂŶĂƌĞŝŶƚĞƌĞƐƚďĞĂƌŝŶŐ͘ ďͿ EŽŶĞŽĨƚŚĞůŽĂŶĞĞƐŚĂǀĞ͕ƉĞƌƐĞ͕ŵĂĚĞŝŶǀĞƐƚŵĞŶƚƐŝŶƐŚĂƌĞƐŽĨƚŚĞŽŵƉĂŶLJ͘ 38. FINANCIAL AND DERIVATIVE INSTRUMENTS

ĂͿ ĞƌŝǀĂƟǀĞƐĐŽŶƚƌĂĐƚƐĞŶƚĞƌĞĚŝŶƚŽďLJƚŚĞŽŵƉĂŶLJĂŶĚŽƵƚƐƚĂŶĚŝŶŐĂƐŽŶϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ͕ĨŽƌŚĞĚŐŝŶŐĐƵƌƌĞŶĐLJĂŶĚ ŝŶƚĞƌĞƐƚƌĂƚĞƌĞůĂƚĞĚƌŝƐŬƐ͗  EŽŵŝŶĂůĂŵŽƵŶƚƐŽĨĚĞƌŝǀĂƟǀĞĐŽŶƚƌĂĐƚƐĞŶƚĞƌĞĚŝŶƚŽďLJƚŚĞŽŵƉĂŶLJĂŶĚŽƵƚƐƚĂŶĚŝŶŐŝƐ`ϰϳϯ͘ϱϲĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ `ϯ͕ϳϲϰ͘ϳϬĐƌŽƌĞͿ͘ĂƚĞŐŽƌLJǁŝƐĞďƌĞĂŬͲƵƉŝƐŐŝǀĞŶďĞůŽǁ͗

;`ŝŶƌŽƌĞͿ WĂƌƟĐƵůĂƌƐ Current Year Previous Year /ŶƚĞƌĞƐƚƌĂƚĞ^ǁĂƉƐ Ϯϭϳ͘ϳϰ E/> ;h^ΨĞƋƵŝǀĂůĞŶƚ ϰϬ͘ϴϴŵŝůůŝŽŶͿ KƉƟŽŶƐ ϰϳ͘ϵϰ E/> ;h^Ψϵ͘ϬϬŵŝůůŝŽŶͿ &ŽƌǁĂƌĚŽŶƚƌĂĐƚƐ ϰϳϯ͘ϱϲ ϯ͕ϰϵϵ͘ϬϮ ;h^ΨĞƋƵŝǀĂůĞŶƚ ;h^ΨĞƋƵŝǀĂůĞŶƚ ϴϰ͘ϮϲŵŝůůŝŽŶͿ ϳϬϬ͘ϲϯŵŝůůŝŽŶͿ

ďͿ dŚĞƉƌŝŶĐŝƉĂůĐŽŵƉŽŶĞŶƚŽĨĨŽƌĞŝŐŶĐƵƌƌĞŶĐLJůŽĂŶƐͬĚĞďƚƐŶŽƚŚĞĚŐĞĚďLJĚĞƌŝǀĂƟǀĞŝŶƐƚƌƵŵĞŶƚƐĂŵŽƵŶƚƚŽ`ϰ͕Ϭϰϰ͘ϵϱĐƌŽƌĞ ;WƌĞǀŝŽƵƐLJĞĂƌ`Ϯ͕Ϯϰϴ͘ϮϮĐƌŽƌĞͿǁŚŝĐŚŝŶƌĞƐƉĞĐƟǀĞĐƵƌƌĞŶĐŝĞƐŝƐĂƐƵŶĚĞƌ͗ WĂƌƟĐƵůĂƌƐ Current Year Previous Year h^ŽůůĂƌƐ ϲϮϭ͘ϮϴŵŝůůŝŽŶ ϭϯϴ͘ϱϰŵŝůůŝŽŶ :ĂƉĂŶĞƐĞzĞŶ ϲ͕ϭϲϭ͘ϱϱŵŝůůŝŽŶ ϭϵ͕ϱϳϳ͘ϴϳŵŝůůŝŽŶ ƵƌŽ ϰϰ͘ϱϳŵŝůůŝŽŶ ϰϲ͘ϰϮŵŝůůŝŽŶ

ĐͿ /ŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞĂĐĐŽƵŶƟŶŐƉŽůŝĐLJŽŶĮŶĂŶĐŝĂůĚĞƌŝǀĂƟǀĞŝŶƐƚƌƵŵĞŶƚƐ͕ĚƵƌŝŶŐƚŚĞLJĞĂƌ͕ƚŚĞŽŵƉĂŶLJŚĂƐƌĞĐŽŐŶŝƐĞĚ ŵĂƌŬƚŽŵĂƌŬĞƚůŽƐƐĞƐŽĨ`Eŝů;WƌĞǀŝŽƵƐLJĞĂƌ`ϰϭ͘ϬϯĐƌŽƌĞͿ͘

180 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

39. INTEREST IN JOINT VENTURES

dŚĞŽŵƉĂŶLJ͛ƐŝŶƚĞƌĞƐƚĂƐĂǀĞŶƚƵƌĞƌ͕ŝŶũŽŝŶƚůLJĐŽŶƚƌŽůůĞĚĞŶƟƟĞƐ;/ŶĐŽƌƉŽƌĂƚĞĚ:ŽŝŶƚsĞŶƚƵƌĞƐͿŝƐĂƐƵŶĚĞƌ͗

ŽƵŶƚƌLJŽĨ Percentage of Percentage of WĂƌƟĐƵůĂƌƐ /ŶĐŽƌƉŽƌĂƟŽŶ ownership interest as ownership interest as at 31st March, 2013 at 31st March, 2012 :ŝŶĚĂů^LJŶĨƵĞůƐ>ŝŵŝƚĞĚ India ϳϬ͘ϬϬ ϳϬ͘ϬϬ ^ŚƌĞƐŚƚDŝŶŝŶŐĂŶĚDĞƚĂůƐWƌŝǀĂƚĞ>ŝŵŝƚĞĚ India ϱϬ͘ϬϬ ϱϬ͘ϬϬ hƌƚĂŶEŽƌƚŚDŝŶŝŶŐŽŵƉĂŶLJ>ŝŵŝƚĞĚ India ϲϲ͘ϲϳ ϲϲ͘ϲϳ

 dŚĞŽŵƉĂŶLJ͛ƐŝŶƚĞƌĞƐƚƐŝŶƚŚĞĂďŽǀĞ:ŽŝŶƚsĞŶƚƵƌĞƐŝƐƌĞƉŽƌƚĞĚĂƐEŽŶͲƵƌƌĞŶƚ/ŶǀĞƐƚŵĞŶƚƐ;EŽƚĞͲϭϯͿĂŶĚƐƚĂƚĞĚĂƚĐŽƐƚ͘,ŽǁĞǀĞƌ͕ ƚŚĞ ŽŵƉĂŶLJ͛Ɛ ƐŚĂƌĞ ŽĨ ĂƐƐĞƚƐ͕ ůŝĂďŝůŝƟĞƐ͕ ŝŶĐŽŵĞ ĂŶĚ ĞdžƉĞŶƐĞƐ͕ ĞƚĐ͘ ;ĞĂĐŚ ǁŝƚŚŽƵƚ ĞůŝŵŝŶĂƟŽŶ ŽĨ ƚŚĞ ĞīĞĐƚ ŽĨ ƚƌĂŶƐĂĐƟŽŶƐ ďĞƚǁĞĞŶƚŚĞŽŵƉĂŶLJĂŶĚƚŚĞũŽŝŶƚǀĞŶƚƵƌĞƐͿƌĞůĂƚĞĚƚŽŝƚƐŝŶƚĞƌĞƐƚŝŶƚŚĞ:ŽŝŶƚsĞŶƚƵƌĞƐĂƌĞ͗  ;`ŝŶƌŽƌĞͿ As at As at WĂƌƟĐƵůĂƌƐ 31st March, 2013 31st March. 2012 I. >ŝĂďŝůŝƟĞƐ

ϭ͘ ƵƌƌĞŶƚůŝĂďŝůŝƟĞƐ ĂͿ ^ŚŽƌƚƚĞƌŵďŽƌƌŽǁŝŶŐƐ Ͳ Ͳ KƚŚĞƌĐƵƌƌĞŶƚůŝĂďŝůŝƟĞƐ Ͳ ϭ͘ϳϭ II. Assets Ϯ͘ EŽŶͲƵƌƌĞŶƚƐƐĞƚƐ ĂͿ &ŝdžĞĚƐƐĞƚƐ &ŝdžĞĚƐƐĞƚƐ ϭ͘ϯϰ Ϭ͘ϬϮ /ŶƚĂŶŐŝďůĞĂƐƐĞƚƐƵŶĚĞƌĚĞǀĞůŽƉŵĞŶƚ ϰϲ͘ϭϵ ϭϲ͘ϵϭ ďͿ >ŽŶŐƚĞƌŵůŽĂŶƐΘĂĚǀĂŶĐĞƐ ϭ͘ϯϴ ϭ͘ϯϱ ĐͿ KƚŚĞƌŶŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐ ϭ͘ϯϵ Ͳ ϯ͘ ƵƌƌĞŶƚƐƐĞƚƐ ĂƐŚΘĐĂƐŚĞƋƵŝǀĂůĞŶƚƐ ϯ͘Ϯϭ Ϭ͘ϮϮ ^ŚŽƌƚƚĞƌŵůŽĂŶƐΘĂĚǀĂŶĐĞƐ Ϭ͘ϭϰ Ͳ KƚŚĞƌĐƵƌƌĞŶƚĂƐƐĞƚƐ Ϭ͘Ϭϵ Ϭ͘Ϯϲ

181 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

40. ADDITIONAL INFORMATION a) Installed CĂƉĂĐŝƚLJ

Sl. No. WĂƌƟĐƵůĂƌƐ Unit Current Year Previous Year AT RAIGARH ϭ ^ƉŽŶŐĞ/ƌŽŶ D͘d͘ ϭϯ͕ϳϬ͕ϬϬϬ ϭϯ͕ϳϬ͕ϬϬϬ Ϯ DŝůĚ^ƚĞĞů D͘d͘ ϯϬ͕ϬϬ͕ϬϬϬ ϯϬ͕ϬϬ͕ϬϬϬ ϯ &ĞƌƌŽůůŽLJƐ D͘d͘ ϯϲ͕ϬϬϬ ϯϲ͕ϬϬϬ ϰ WŽǁĞƌ Dt ϴϵϯ ϴϵϯ ϱ ,ŽƚDĞƚĂůͬWŝŐ/ƌŽŶ D͘d͘ ϭϲ͕ϳϬ͕ϬϬϬ ϭϲ͕ϳϬ͕ϬϬϬ ϲ ZĂŝůΘhŶŝǀĞƌƐĂůĞĂŵDŝůů D͘d͘ ϳ͕ϱϬ͕ϬϬϬ ϳ͕ϱϬ͕ϬϬϬ ϳ WůĂƚĞDŝůů D͘d͘ ϭϬ͕ϬϬ͕ϬϬϬ ϭϬ͕ϬϬ͕ϬϬϬ ϴ &ĂďƌŝĐĂƚĞĚ^ƚƌƵĐƚƵƌĞƐ D͘d͘ ϭ͕ϮϬ͕ϬϬϬ ϭ͕ϮϬ͕ϬϬϬ ϵ ĞŵĞŶƚWůĂŶƚ D͘d͘ ϱ͕ϬϬ͕ϬϬϬ ϱ͕ϬϬ͕ϬϬϬ ϭϬ DĞĚŝƵŵΘ>ŝŐŚƚ^ĞĐƟŽŶDŝůů D͘d͘ ϲ͕ϬϬ͕ϬϬϬ ϲ͕ϬϬ͕ϬϬϬ AT RAIPUR ϭϭ DĂĐŚŝŶĞƌLJĂŶĚĂƐƟŶŐƐ D͘d͘ ϭϭ͕ϱϬϬ ϭϭ͕ϱϬϬ ϭϮ /ŶŐŽƚƐ D͘d͘ ϯϬ͕ϬϬϬ ϯϬ͕ϬϬϬ ϭϯ &ĂƐƟŶŐƐ D͘d͘ ϯ͕ϬϬϬ ϯ͕ϬϬϬ AT BARBIL ϭϰ WĞůůĞƟƐĂƟŽŶWůĂŶƚ D͘d͘ ϰϱ͕ϬϬ͕ϬϬϬ ϰϱ͕ϬϬ͕ϬϬϬ AT SATARA (MAHARASHTRA) ϭϱ tŝŶĚŶĞƌŐLJ Dt Ϯϰ Ϯϰ AT PATRATU ϭϲ tŝƌĞZŽĚ D͘d͘ ϲ͕ϬϬ͕ϬϬϬ ϲ͕ϬϬ͕ϬϬϬ ϭϳ ĂƌDŝůů D͘d͘ ϭϬ͕ϬϬ͕ϬϬϬ ϭϬ͕ϬϬ͕ϬϬϬ AT ANGUL ϭϴ WŽǁĞƌ Dt ϱϰϬ ϮϳϬ ϭϵ &ĂďƌŝĐĂƚĞĚ^ƚƌƵĐƚƵƌĞƐ D͘d ϴϰ͕ϬϬϬ ϰϬ͕ϬϬϬ ϮϬ WůĂƚĞDŝůů D͘d͘ ϭϱ͕ϬϬ͕ϬϬϬ Ͳ

EŽƚĞ͗/ŶƐƚĂůůĞĚĐĂƉĂĐŝƚLJŝƐĂƐĐĞƌƟĮĞĚďLJƚŚĞŵĂŶĂŐĞŵĞŶƚĂŶĚƌĞůŝĞĚƵƉŽŶďLJƚŚĞĂƵĚŝƚŽƌƐďĞŝŶŐĂƚĞĐŚŶŝĐĂůŵĂƩĞƌ͘ ďͿ ZĂǁDĂƚĞƌŝĂůŽŶƐƵŵƉƟŽŶ ;ŵŽƵŶƚ`ŝŶƌŽƌĞͿ Sl. No. WĂƌƟĐƵůĂƌƐ Unit Current Year Previous Year YƵĂŶƟƚLJ Amount YƵĂŶƟƚLJ Amount ϭ /ƌŽŶKƌĞ D͘d͘ ϳϬ͕ϳϭ͕ϬϮϲ ϭ͕ϳϲϭ͘ϴϳ ϲϱ͕ϱϰ͕ϰϴϬ ϭ͕ϯϵϳ͘Ϭϵ Ϯ ŽŬŝŶŐŽĂů D͘d͘ ϭϬ͕ϲϴ͕ϳϱϱ ϭ͕ϰϭϭ͘ϳϴ ϭϬ͕ϳϬ͕ϱϴϳ ϭ͕ϯϲϭ͘Ϭϰ ϯ ,ŽƚƌŝƋƵĞƩĞĚ/ƌŽŶ D͘d͘ ϯ͕ϭϳ͕ϳϯϵ ϳϮϳ͘ϴϵ Ϯ͕ϵϯ͕ϴϴϲ ϳϬϭ͘ϭϯ ϰ KƚŚĞƌƐ D͘d͘ Ͳ ϭ͕Ϭϰϭ͘ϳϲ Ͳ ϭ͕ϬϳϬ͘ϱϴ 4,943.30 4,529.84

182 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

ĐͿ YƵĂŶƟƚĂƟǀĞ/ŶĨŽƌŵĂƟŽŶŽĨ^ƚŽĐŬŽĨDĂŶƵĨĂĐƚƵƌĞĚ&ŝŶŝƐŚĞĚ'ŽŽĚƐ ;ŵŽƵŶƚ`ŝŶƌŽƌĞͿ Sl. No. WĂƌƟĐƵůĂƌƐ Unit KƉĞŶŝŶŐ^ƚŽĐŬ KƉĞŶŝŶŐ^ƚŽĐŬ ůŽƐŝŶŐ^ƚŽĐŬ As At 1st April, 2011 As At 1st April, 2012 As At 31st March, 2013 YƵĂŶƟƚLJ ŵŽƵŶƚ YƵĂŶƟƚLJ ŵŽƵŶƚ YƵĂŶƟƚLJ Amount ϭ ^ƉŽŶŐĞ/ƌŽŶ D͘d͘ ϭϬ͕ϵϮϵ ϵ͘Ϭϲ Ϯ͕ϱϵϱ ϭ͘ϴϭ ϯ͕ϲϭϱ ϯ͘ϭϮ Ϯ D͘^͘ZŽƵŶĚ D͘d͘ ϯϰ͕ϰϴϴ ϳϵ͘Ϭϱ ϭϭ͕Ϭϭϯ ϯϯ͘ϴϳ ϵ͕Ϭϵϰ Ϯϲ͘Ϭϲ ϯ ,͘͘&ĞƌƌŽŚƌŽŵĞͬ D͘d͘ ϭ͕ϴϭϮ ϵ͘ϰϮ ϭ͕ϭϵϱ ϱ͘ϵϴ Ϯϳϰ ϭ͘ϮϮ ^ŝůŝĐŽDĂŶŐŶĞƐĞ ϰ ,ŽƚDĞƚĂůͬWŝŐ/ƌŽŶ D͘d͘ ϯϯ͕Ϭϲϰ ϱϱ͘ϲϰ Ϯϴ Ϭ͘Ϭϲ Ͳ Ͳ ϱ WĂƌĂůůĞů&ůĂŶŐĞĞĂŵͬ D͘d͘ ϰϯ͕ϳϮϴ ϭϭϭ͘Ϭϭ ϱϰ͕ϰϴϵ ϭϳϭ͘ϰϭ ϰϲ͕ϭϱϬ ϭϲϱ͘Ϯϲ ŽůƵŵŶƐ ϲ KƚŚĞƌ&ŝŶŝƐŚĞĚ^ƚĞĞů D͘d͘ ϭϲ͕ϲϭϭ ϰϱ͘ϰϬ ϵ͕ϰϳϴ Ϯϵ͘ϴϮ ϭϯ͕ϰϱϬ ϰϵ͘ϰϭ WƌŽĚƵĐƚƐ ϳ KƚŚĞƌ^Ğŵŝ^ƚĞĞů D͘d͘ ϳϬ͕ϳϴϴ ϭϱϴ͘Ϭϯ ϴϮ͕ϯϭϳ Ϯϭϱ͘ϴϳ ϲϴ͕ϳϭϮ ϭϵϴ͘ϳϴ WƌŽĚƵĐƚƐ ϴ DĂĐŚŝŶĞƌŝĞƐ D͘d͘ ϲϴϱ ϱ͘ϭϲ ϭ͕ϭϱϲ ϭϰ͘ϭϴ Ϯ͕ϱϴϰ ϯϰ͘ϴϳ ϵ hŶŝǀĞƌƐĂůWůĂƚĞͬŽŝů D͘d͘ ϱϴ͕ϮϰϮ ϭϰϰ͘ϲϬ ϵϳ͕ϯϳϳ ϯϭϯ͘Ϯϯ ϵϳ͕ϳϯϰ ϯϰϵ͘ϵϴ ϭϬ tŝƌĞZŽĚ D͘d͘ Ϯϳ͕ϰϱϭ ϴϱ͘ϲϬ ϮϮ͕ϲϳϭ ϳϳ͘ϴϴ ϯϳ͕ϳϱϲ ϭϯϰ͘ϬϮ ϭϭ ĂƌƐ D͘d͘ ϭϬϲ Ϭ͘ϰϯ ϮϬ͕ϭϯϵ ϲϳ͘ϵϮ ϰϭ͕ϳϮϮ ϭϱϰ͘ϬϮ ϭϮ &ĂďƌŝĐĂƚĞĚ^ƚƌƵĐƚƵƌĞƐ D͘d͘ ϳ͕ϱϰϬ Ϯϳ͘ϳϰ ϲ͕ϰϵϯ ϯϯ͘ϯϳ ϭϬ͕ϳϭϰ ϱϲ͘ϰϵ ϭϯ ĞŵĞŶƚ D͘d͘ ϯ͕ϴϲϭ ϭ͘ϭϱ Ϯ͕Ϭϴϯ Ϭ͘ϲϴ ϱ͕Ϭϴϱ ϭ͘ϲϭ ϭϰ DĞĚŝƵŵΘ>ŝŐŚƚ D͘d͘ ϭϲ͕ϳϬϯ ϱϱ͘ϳϰ ϰϲ͕Ϭϴϰ ϭϱϳ͘Ϯϯ ϰϮ͕Ϭϵϯ ϭϰϵ͘ϳϵ ^ĞĐƟŽŶƐ ϭϱ /ƌŽŶKƌĞWĞůůĞƚƐ D͘d͘ Ϯ͕ϯϱ͕Ϭϳϲ ϯϬ͘ϲϮ ϮϮ͕ϯϱϮ ϭϭ͘ϰϯ ϭ͕ϯϳ͕Ϭϵϱ ϳϲ͘ϳϬ ϭϲ KƚŚĞƌƐ Ͳ ϱϯ͘ϴϱ Ͳ ϭϰϰ͘ϰϯ Ͳ ϯϵ͘ϭϳ 872.50 1,279.17 1,440.50

ĚͿ WƌŽĚƵĐƟŽŶ Sl. No. WĂƌƟĐƵůĂƌƐ Unit Current Year Previous Year YƵĂŶƟƚLJ YƵĂŶƟƚLJ ϭ ^ƉŽŶŐĞ/ƌŽŶ D͘d͘ ϭϯ͕ϭϵ͕ϵϳϲ ϭϯ͕ϭϵ͕ϵϰϬ Ϯ D͘^͘ZŽƵŶĚ D͘d͘ ϰ͕Ϭϯ͕ϬϬϳ ϰ͕ϴϮ͕ϰϵϲ ϯ ,͘͘&ĞƌƌŽŚƌŽŵĞͬ^ŝůŝĐŽDĂŶŐŶĞƐĞ D͘d͘ ϯϯ͕ϴϰϬ ϮϮ͕ϲϲϯ ϰ WŽǁĞƌ DŝůůŝŽŶŝŐŚƚ^ĞĐƟŽŶƐ D͘d͘ Ϯ͕ϳϭ͕ϲϯϲ ϭ͕ϴϱ͕ϳϴϴ ϭϲ /ƌŽŶKƌĞWĞůůĞƚƐ D͘d͘ ϰϬ͕ϰϮ͕ϬϮϱ ϯϳ͕ϯϲ͕ϵϭϱ ϭϳ tŝŶĚŶĞƌŐLJ DŝůůŝŽŶ

183 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

ĞͿ /ƚĞŵƐƵƐĞĚĨŽƌ/ŶƚĞƌŶĂůͬĂƉƟǀĞŽŶƐƵŵƉƟŽŶĚƵƌŝŶŐƚŚĞLJĞĂƌ Sl. No. WĂƌƟĐƵůĂƌƐ Unit Current Year Previous Year YƵĂŶƟƚLJ YƵĂŶƟƚLJ ϭ ^ƉŽŶŐĞ/ƌŽŶ D͘d͘ ϭϮ͕ϵϭ͕ϳϱϮ ϭϮ͕ϰϵ͕ϴϭϳ Ϯ D͘^͘ZŽƵŶĚ D͘d͘ ϳϱϮ ϭϴϭ ϯ ,͘͘&ĞƌƌŽŚƌŽŵĞͬ^ŝůŝĐŽDĂŶŐŶĞƐĞ D͘d͘ ϯϰ͕ϳϲϭ Ϯϯ͕ϮϴϬ ϰ WŽǁĞƌ DŝůůŝŽŶŝŐŚƚ^ĞĐƟŽŶƐ D͘d͘ ϲ͕Ϯϳϲ ϱ͕ϱϵϰ ϭϯ tŝƌĞZŽĚ D͘d͘ ϲ͕ϯϮϲ ϴϬ ϭϰ ĂƌƐ D͘d͘ ϳ͕ϱϳϱ ϰϳ ĨͿ ^ĂůĞƐ͕/ŶƚĞƌͲĚŝǀŝƐŝŽŶĂůdƌĂŶƐĨĞƌƐΘKƚŚĞƌKƉĞƌĂƟŽŶƐ  /Ϳ ^ĂůĞƐ͗ ;ŵŽƵŶƚ`ŝŶƌŽƌĞͿ Sl. No. WĂƌƟĐƵůĂƌƐ Unit Current Year Previous Year YƵĂŶƟƚLJ Amount YƵĂŶƟƚLJ Amount i. Manufactured Finished Goods ϭ ^ƉŽŶŐĞ/ƌŽŶ D͘d͘ Ϯϳ͕ϭϵϵ ϱϵ͘ϴϭ ϳϴ͕ϰϱϳ ϭϴϭ͘ϰϵ Ϯ D͘^͘ZŽƵŶĚ D͘d͘ ϰ͕Ϭϰ͕ϭϳϰ ϭ͕ϱϱϯ͘ϲϰ ϱ͕Ϭϱ͕ϳϵϬ ϭ͕ϵϯϭ͘ϰϬ ϯ ,͘͘&ĞƌƌŽŚƌŽŵĞ D͘d͘ Ͳ Ͳ Ͳ Ͳ ϰ WŽǁĞƌ DŝůůŝŽŶŝŐŚƚ^ĞĐƟŽŶƐ D͘d͘ Ϯ͕ϲϮ͕ϰϮϬ ϭ͕ϭϳϭ͘ϳϳ ϭ͕ϱϬ͕ϲϬϰ ϲϭϬ͘ϯϮ ϭϳ /ƌŽŶKƌĞWĞůůĞƚƐ D͘d͘ Ϯ͕ϬϮϮ͘Ϯϳ ϮϬ͕Ϯϴ͕ϯϯϬ ϭ͕ϴϵϴ͘ϭϮ Ϯϭ͕ϭϮ͕ϭϱϴ ϭϴ tŝŶĚŶĞƌŐLJ DŝůůŝŽŶ

184 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

//Ϳ /ŶƚĞƌͲĚŝǀŝƐŝŽŶĂůdƌĂŶƐĨĞƌƐ͗ ;`ŝŶƌŽƌĞͿ Sl. No. WĂƌƟĐƵůĂƌƐ Unit Current Year Previous Year YƵĂŶƟƚLJ Amount YƵĂŶƟƚLJ Amount i. Manufactured Finished Goods ϭ ^ƉŽŶŐĞ/ƌŽŶ D͘d͘ ϱ Ϭ͘Ϭϭ Ͳ Ͳ Ϯ WŽǁĞƌ DŝůůŝŽŶŝŐŚƚ^ĞĐƟŽŶƐ D͘d͘ ϲ͕ϵϯϭ Ϯϰ͘ϲϳ ϮϬϵ Ϭ͘ϲϵ ϭϱ /ƌŽŶKƌĞWĞůůĞƚƐ D͘d͘ ϭϴ͕ϭϱ͕ϭϮϰ ϴϱϬ͘ϲϮ ϭϵ͕Ϯϭ͕ϯϬϴ ϳϯϮ͘Ϯϰ ϭϲ KƚŚĞƌƐ Ͳ ϰϬ͘ϭϱ Ͳ ϭϱ͘Ϭϭ Total 4,652.62 2,853.65 ii) Traded Goods ϭ WŽǁĞƌ DŝůůŝŽŶ

///Ϳ KƚŚĞƌKƉĞƌĂƟŶŐZĞǀĞŶƵĞƐ͗ ;`ŝŶƌŽƌĞͿ Sl. No. WĂƌƟĐƵůĂƌƐ Current Year Previous Year ϭ ^ĐƌĂƉ^ĂůĞ ϲϲ͘Ϭϴ ϰϯ͘ϴϳ Ϯ džƉŽƌƚ/ŶĐĞŶƟǀĞƐ ϲϴ͘ϵϭ ϯϵ͘ϲϭ ϯ ǀŝĂƟŽŶ/ŶĐŽŵĞ ϭϳ͘Ϭϰ ϮϮ͘Ϯϱ ϰ KƚŚĞƌƐ ϯ͘ϵϵ ϭϳ͘ϵϳ Total 156.02 123.70 Total (i + ii + iii) 21,541.90 17,598.24

185 Annual Report 2012-13 Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

ŐͿ ^ĂůĞƐŝŶĐůƵĚĞŐŽŽĚƐŝƐƐƵĞĚĨŽƌWƌŽũĞĐƚƐͬĂƉƟǀĞ;ŝŶĐůƵĚŝŶŐƚƌŝĂůƌƵŶƉĞƌŝŽĚͿ͗ ;ŵŽƵŶƚ`ŝŶƌŽƌĞͿ Sl. No. WĂƌƟĐƵůĂƌƐ Unit Current Year Previous Year YƵĂŶƟƚLJ Amount YƵĂŶƟƚLJ Amount ϭ D͘^͘ZŽƵŶĚ D͘d͘ Ͳ Ͳ Ͳ Ͳ Ϯ WŽǁĞƌ DŝůůŝŽŶŝŐŚƚ^ĞĐƟŽŶƐ D͘d͘ ϲ͕ϯϱϮ Ϯϳ͘ϭϭ Ϯϯ͕ϭϱϮ ϴϯ͘ϳϱ ϭϭ DĂĐŚŝŶĞƌŝĞƐ D͘d͘ ϱ͕ϲϱϯ ϵϲ͘ϴϮ ϱ͕Ϭϯϱ ϴϭ͘ϳϳ ϭϮ tŝƌĞƌŽĚ D͘d͘ Ͳ Ͳ ϰϮ Ϭ͘ϭϯ ϭϯ ĂƌƐ D͘d͘ ϳ͕ϯϳϲ Ϯϲ͘ϲϲ Ϯ͕ϴϰϱ ϭϭ͘Ϯϰ ϭϰ KƚŚĞƌƐ Ͳ ϭϵϬ͘ϭϰ Ͳ ϱϳ͘Ϯϳ Total 831.28 753.03

ŚͿ ͘/͘&͘sĂůƵĞŽĨ/ŵƉŽƌƚƐ͗ ;`ŝŶƌŽƌĞͿ Sl. No. WĂƌƟĐƵůĂƌƐ Current Year Previous Year ϭ ZĂǁDĂƚĞƌŝĂůΘ&ƵĞů Ϯ͕ϱϯϬ͘ϰϱ Ϯ͕ϵϱϮ͘ϭϴ Ϯ ŽŵƉŽŶĞŶƚƐΘ^ƉĂƌĞWĂƌƚƐ Ϯϰϴ͘ϳϰ ϭϳϭ͘ϵϴ ϯ ĂƉŝƚĂů'ŽŽĚƐΘKƚŚĞƌƐ ϲϳϯ͘ϳϴ ϴϲϱ͘ϮϮ Total 3,452.97 3,989.38

ŝͿ ƌĞĂŬƵƉŽĨĐŽŶƐƵŵƉƟŽŶŽĨZĂǁDĂƚĞƌŝĂůƐĂŶĚ^ƚŽƌĞƐΘ^ƉĂƌĞƐŝŶƚŽŝŵƉŽƌƚĞĚĂŶĚŝŶĚŝŐĞŶŽƵƐ͗ ;ŵŽƵŶƚ`ŝŶƌŽƌĞͿ Sl. No. WĂƌƟĐƵůĂƌƐ Current Year Previous Year Amount % Amount % a) Raw Materials ŝͿ /ŵƉŽƌƚĞĚ;ŝŶĐůƵĚŝŶŐƉƵƌĐŚĂƐĞĚƚŚƌŽƵŐŚ Ϯ͕ϮϳϮ͘ϵϴ ϰϱ͘ϵϴ Ϯ͕ϯϭϯ͘ϴϴ ϱϭ͘Ϭϴ ĐĂŶĂůŝƐŝŶŐĂŐĞŶĐŝĞƐ͕,ŝŐŚ^ĞĂ^ĂůĞƐΘŽƚŚĞƌƐͿ ŝŝͿ /ŶĚŝŐĞŶŽƵƐ Ϯ͕ϲϳϬ͘ϯϮ ϱϰ͘ϬϮ Ϯ͕Ϯϭϱ͘ϵϲ ϰϴ͘ϵϮ 4,943.30 100.00 4,529.84 100.00 b) Stores and Spares ŝͿ /ŵƉŽƌƚĞĚ;ŝŶĐůƵĚŝŶŐƉƵƌĐŚĂƐĞĚƚŚƌŽƵŐŚ ϯϲϮ͘ϱϭ Ϯϭ͘ϯϰ ϭϴϱ͘ϲϴ ϭϮ͘ϳϰ ĐĂŶĂůŝƐŝŶŐĂŐĞŶĐŝĞƐ͕,ŝŐŚ^ĞĂ^ĂůĞƐΘŽƚŚĞƌƐͿ ŝŝͿ /ŶĚŝŐĞŶŽƵƐ ϭ͕ϯϯϲ͘ϭϱ ϳϴ͘ϲϲ ϭ͕Ϯϳϭ͘ϰϵ ϴϳ͘Ϯϲ 1,698.66 100.00 1,457.17 100.00 c) ŽŬĞĂŶĚŽĂů ŝͿ /ŵƉŽƌƚĞĚ;ŝŶĐůƵĚŝŶŐƉƵƌĐŚĂƐĞĚƚŚƌŽƵŐŚ ϰϬϵ͘ϵϵ ϲϮ͘ϲϳ ϰϭϯ͘Ϭϳ ϳϯ͘Ϯϯ ĐĂŶĂůŝƐŝŶŐĂŐĞŶĐŝĞƐ͕,ŝŐŚ^ĞĂ^ĂůĞƐΘŽƚŚĞƌƐͿ ŝŝͿ /ŶĚŝŐĞŶŽƵƐ Ϯϰϰ͘ϭϳ ϯϳ͘ϯϯ ϭϱϬ͘ϵϵ Ϯϲ͘ϳϳ 654.16 100.00 564.06 100.00

186 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

Notes ƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚMarch, 2013

ũͿ džƉĞŶĚŝƚƵƌĞŝŶ&ŽƌĞŝŐŶƵƌƌĞŶĐLJ;ƐZĞŵŝƩĞĚͿ͗

;`ŝŶƌŽƌĞͿ Sl. No. WĂƌƟĐƵůĂƌƐ Current Year Previous Year ϭ dƌĂǀĞůůŝŶŐ Ϯ͘Ϭϲ Ϭ͘ϲϬ Ϯ /ŶƚĞƌĞƐƚΘƌƌĂŶŐĞŵĞŶƚŚĂƌŐĞƐ ϭϭϴ͘ϴϰ ϵϮ͘Ϯϴ ϯ ŝǀŝĚĞŶĚΎ ϭϭ͘ϱϰ ϵ͘ϳϴ ϰ dĞĐŚŶŝĐĂů<ŶŽǁŚŽǁ&ĞĞƐ ϭϯ͘ϱϲ ϱϵ͘ϴϰ ϱ KƚŚĞƌƐ ϯϭ͘ϯϱ ϵϰ͘ϯϯ Total 177.35 256.83

ΎdŽƚĂů ŶƵŵďĞƌ ŽĨ ŶŽŶ ƌĞƐŝĚĞŶƚ ƐŚĂƌĞŚŽůĚĞƌƐ ƚŽ ǁŚŽŵ ĚŝǀŝĚĞŶĚ ƉĂŝĚ ĚƵƌŝŶŐ ĐƵƌƌĞŶƚ ĮŶĂŶĐŝĂů LJĞĂƌ ĨŽƌ ƚŚĞ LJĞĂƌ ĞŶĚĞĚ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ͗ϰϯ͖ŶƵŵďĞƌŽĨƐŚĂƌĞƐ͗ϳ͕Ϯϭ͕ϳϯ͕ϯϰϰ͘ ŬͿ ĂƌŶŝŶŐƐŝŶ&ŽƌĞŝŐŶƵƌƌĞŶĐLJ ;`ŝŶƌŽƌĞͿ Sl. No. ĂƌŶŝŶŐƐ/Ŷ&ŽƌĞŝŐŶƵƌƌĞŶĐLJ Current Year Previous Year ϭ &KsĂůƵĞŽĨdžƉŽƌƚ^ĂůĞƐ ϭ͕ϱϵϴ͘ϱϯ ϭ͕ϰϮϴ͘ϴϰ Ϯ KƚŚĞƌƐ ϮϮ͘ϲϬ Ͳ Total 1,621.13 1,428.84

ϰϭ͘ WƌĞǀŝŽƵƐLJĞĂƌĮŐƵƌĞƐŚĂǀĞďĞĞŶƌĞŐƌŽƵƉĞĚͬƌĞĐĂƐƚǁŚĞƌĞǀĞƌĐŽŶƐŝĚĞƌĞĚŶĞĐĞƐƐĂƌLJƚŽĨĂĐŝůŝƚĂƚĞĐŽŵƉĂƌŝƐŽŶ͘

187 Annual Report 2012-13 ^ƚĂƚĞŵĞŶƚƉƵƌƐƵĂŶƚƚŽĞdžĞŵƉƟŽŶƵŶĚĞƌ^ĞĐƟŽŶϮϭϴ;ϴͿ of the Companies Act, 1956 and General Circular no: 2/2011 date 8th February, 2011 ƌĞůĂƟŶŐƚŽSubsidiary Companies

S.No EĂŵĞŽĨƚŚĞƐƵďƐŝĚŝĂƌLJĐŽŵƉĂŶŝĞƐ ƵƌƌĞŶĐLJ Issued & Reserves Total Assets Total Investments Total Turnover WƌŽĮƚͬ Provision for WƌŽĮƚͬ;>ŽƐƐͿ Proposed Subscribed >ŝĂďŝůŝƟĞƐ (Loss) before dĂdžĂƟŽŶ ĂŌĞƌdĂdžĂƟŽŶ Dividend Share Capital dĂdžĂƟŽŶ Long Term Current ϭ :ŝŶĚĂůWŽǁĞƌ>ŝŵŝƚĞĚ `ŝŶƌŽƌĞ ϭ͕ϯϰϴ͘ϴϬ ϳ͕ϲϴϯ͘ϴϰ ϭϯ͕ϯϳϰ͘ϯϰ ϭϯ͕ϯϳϰ͘ϯϰ ϭ͘ϯϱ Ͳ ϭ͘ϯϱ Ϯ͕ϱϬϵ͘ϲϲ ϭ͕ϯϵϮ͘ϰϱ Ϯϳϵ͘ϱϬ ϭ͕ϭϭϮ͘ϵϱ Ͳ Ϯ ƩƵŶůŝ,LJĚƌŽůĞĐƚƌŝĐWŽǁĞƌŽŵƉĂŶLJ>ŝŵŝƚĞĚ `ŝŶƌŽƌĞ ϭ͘ϬϬ Ͳ ϮϮ͘ϴϵ ϮϮ͘ϴϵ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϯ ƚĂůŝŶ,LJĚƌŽůĞĐƚƌŝĐWŽǁĞƌŽŵƉĂŶLJ>ŝŵŝƚĞĚ `ŝŶƌŽƌĞ ϭ͘ϬϬ Ͳ ϯϭϬ͘ϳϱ ϯϭϬ͘ϳϱ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϰ <ĂŵĂůĂ,LJĚƌŽůĞĐƚƌŝĐWŽǁĞƌŽŵƉĂŶLJ>ŝŵŝƚĞĚ `ŝŶƌŽƌĞ ϭ͘ϬϬ Ͳ Ϯϭϴ͘ϵϳ Ϯϭϴ͘ϵϳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϱ :ŝŶĚĂůWŽǁĞƌdƌĂŶƐŵŝƐƐŝŽŶ>ŝŵŝƚĞĚ `ŝŶƌŽƌĞ Ϭ͘Ϭϴ Ͳ Ϭ͘Ϭϴ Ϭ͘Ϭϴ Ϭ͘ϬϬ Ͳ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϲ :ŝŶĚĂů,LJĚƌŽWŽǁĞƌ>ŝŵŝƚĞĚ `ŝŶƌŽƌĞ Ϭ͘Ϭϴ Ͳ Ϭ͘Ϭϴ Ϭ͘Ϭϴ Ϭ͘ϬϬ Ͳ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϳ :ŝŶĚĂůWŽǁĞƌŝƐƚƌŝďƵƟŽŶ>ŝŵŝƚĞĚ `ŝŶƌŽƌĞ Ϭ͘Ϭϱ Ͳ Ϭ͘Ϭϱ Ϭ͘Ϭϱ Ϭ͘ϬϬ Ͳ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϴ ŵďŝƟŽƵƐWŽǁĞƌdƌĂĚŝŶŐŽŵƉĂŶLJ>ŝŵŝƚĞĚ `ŝŶƌŽƌĞ ϳ͘ϲϬ Ϭ͘ϳϳ ϴ͘ϴϳ ϴ͘ϴϳ Ϭ͘Ϭϭ Ϭ͘ϬϬ Ϭ͘Ϭϭ Ϭ͘ϱϭ Ϭ͘ϭϰ Ϭ͘Ϭϰ Ϭ͘ϭϬ Ͳ ϵ hƌƚĂŶEŽƌƚŚDŝŶŝŶŐŽŵƉĂŶLJ>ŝŵŝƚĞĚ `ŝŶƌŽƌĞ ϴ͘ϵϮ Ͳ ϭϭ͘Ϯϵ ϭϭ͘Ϯϵ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϭϬ :ŝŶĚĂů^LJŶĨƵĞůƐ>ŝŵŝƚĞĚ `ŝŶƌŽƌĞ ϭ͘ϬϬ Ͳ ϲϮ͘ϴϬ ϲϮ͘ϴϬ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϭϭ :ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌ;DĂƵƌŝƟƵƐͿ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ ϳϱ͘ϬϬ Ϯϳ͘Ϭϭ ϭ͕ϭϯϯ͘ϴϳ ϭ͕ϭϯϯ͘ϴϳ ϲϯ͘Ϯϲ ϯϵ͘ϲϯ ϭϬϮ͘ϴϴ Ͳ Ϯ͘Ϯϰ Ͳ Ϯ͘Ϯϰ Ͳ `ŝŶƌŽƌĞ ϰϬϳ͘ϵϮ ϭϰϲ͘ϴϴ ϲ͕ϭϲϳ͘Ϭϭ ϲ͕ϭϲϳ͘Ϭϭ ϯϰϰ͘Ϭϰ Ϯϭϱ͘ϱϰ ϱϱϵ͘ϱϴ Ͳ ϭϮ͘ϭϲ Ͳ ϭϮ͘ϭϲ Ͳ ϭϮ dƌĂŶƐƚůĂŶƟĐdƌĂĚŝŶŐ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ϰ͘ϲϯ ϰ͘ϲϯ ϰ͘ϲϯ Ͳ Ͳ Ͳ Ͳ Ϭ͘Ϭϭ Ͳ Ϭ͘Ϭϭ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ Ϯϱ͘ϭϵ Ϯϱ͘ϭϵ Ϯϱ͘ϭϵ Ͳ Ͳ Ͳ Ͳ Ϭ͘Ϭϯ Ͳ Ϭ͘Ϭϯ Ͳ ϭϯ Wd:ŝŶĚĂůKǀĞƌƐĞĂƐ /ZŝŶDŝůůŝŽŶ ϴϳϵ͘ϭϬ ;ϯϱ͕ϴϬϲ͘ϳϱͿ ϭϭϭ͕ϭϴϮ͘ϲϭ ϭϭϭ͕ϭϴϮ͘ϲϭ Ͳ Ͳ Ͳ Ͳ ;ϭϳ͕ϳϳϴ͘ϭϱͿ Ͳ ;ϭϳ͕ϳϳϴ͘ϭϱͿ Ͳ  `ŝŶƌŽƌĞ Ϭ͘ϰϵ ;ϭϵ͘ϵϰͿ ϲϭ͘ϵϭ ϲϭ͘ϵϭ Ͳ Ͳ Ͳ Ͳ ;ϵ͘ϵϬͿ Ͳ ;ϵ͘ϵϬͿ Ͳ ϭϰ Wd,/DŝŶŝŶŐ /ZŝŶDŝůůŝŽŶ ϭ͕ϬϬϬ͘ϬϬ ;ϮϮϵ͘ϬϲͿ ϭϮϮ͕ϰϵϬ͘ϳϯ ϭϮϮ͕ϰϵϬ͘ϳϯ Ͳ Ͳ Ͳ Ͳ ;ϮϮϵ͘ϬϲͿ Ͳ ;ϮϮϵ͘ϬϲͿ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϱϲ ;Ϭ͘ϭϯͿ ϲϴ͘ϮϬ ϲϴ͘ϮϬ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϭϯͿ Ͳ ;Ϭ͘ϭϯͿ Ͳ ϭϱ WdDZht/Z/ /ZŝŶDŝůůŝŽŶ ϭ͕ϬϬϬ͘ϬϬ ;ϳϬϱ͘ϬϯͿ ϭ͕ϴϱϭ͘ϱϵ ϭ͕ϴϱϭ͘ϱϵ Ͳ Ͳ Ͳ Ͳ ;ϳϬϱ͘ϬϯͿ Ͳ ;ϳϬϱ͘ϬϯͿ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϱϲ ;Ϭ͘ϯϵͿ ϭ͘Ϭϯ ϭ͘Ϭϯ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϯϵͿ Ͳ ;Ϭ͘ϯϵͿ Ͳ ϭϲ Wd^hDZ^hZz'D/>E' /ZŝŶDŝůůŝŽŶ ϭϮϱ͘ϬϬ ;Ϯϭ͕ϯϵϯ͘ϯϱͿ ϮϮ͕ϯϯϵ͘Ϭϯ ϮϮ͕ϯϯϵ͘Ϭϯ Ͳ Ͳ Ͳ Ͳ ;ϵ͕ϯϵϬ͘ϬϲͿ Ͳ ;ϵ͕ϯϵϬ͘ϬϲͿ Ͳ `ŝŶƌŽƌĞ Ϭ͘Ϭϳ ;ϭϭ͘ϵϭͿ ϭϮ͘ϰϰ ϭϮ͘ϰϰ Ͳ Ͳ Ͳ Ͳ ;ϱ͘ϮϯͿ Ͳ ;ϱ͘ϮϯͿ Ͳ ϭϳ sŝƐŝŽŶKǀĞƌƐĞĂƐ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϭ͘ϬϭͿ ϰ͘ϯϬ ϰ͘ϯϬ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϬϬͿ Ͳ ;Ϭ͘ϬϬͿ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;Ϭ͘ϬϲͿ Ϯϯ͘ϯϲ Ϯϯ͘ϯϲ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϬϭͿ Ͳ ;Ϭ͘ϬϭͿ Ͳ ϭϴ :ƵďŝůŝĂŶƚKǀĞƌƐĞĂƐ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϭ͘ϬϭͿ ϰ͘ϯϬ ϰ͘ϯϬ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϬϬͿ Ͳ ;Ϭ͘ϬϬͿ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;Ϭ͘ϬϲͿ Ϯϯ͘ϯϳ Ϯϯ͘ϯϳ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϬϭͿ Ͳ ;Ϭ͘ϬϭͿ Ͳ ϭϵ ^ŬLJŚŝŐŚKǀĞƌƐĞĂƐ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ ϮϮ͘ϯϱ ;Ϭ͘ϬϭͿ ϮϮ͘ϯϵ ϮϮ͘ϯϵ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϬϬͿ Ͳ ;Ϭ͘ϬϬͿ Ͳ `ŝŶƌŽƌĞ ϭϮϭ͘ϱϲ ;Ϭ͘ϬϲͿ ϭϮϭ͘ϳϴ ϭϮϭ͘ϳϴ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϬϭͿ Ͳ ;Ϭ͘ϬϭͿ Ͳ ϮϬ ,ĂƌŵŽŶLJKǀĞƌƐĞĂƐ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϭ͘ϬϭͿ ϰϭ͘ϴϬ ϰϭ͘ϴϬ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϬϬͿ Ͳ ;Ϭ͘ϬϬͿ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;Ϭ͘ϬϲͿ ϮϮϳ͘ϯϰ ϮϮϳ͘ϯϰ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϬϭͿ Ͳ ;Ϭ͘ϬϭͿ Ͳ Ϯϭ :ŝŶĚĂů^ƚĞĞůŽůŝǀŝĂ^ KŝŶDŝůůŝŽŶ ϲϱϱ͘ϵϵ ;ϴϰ͘ϴϲͿ ϱϳϯ͘ϲϳ ϱϳϯ͘ϲϳ Ϭ͘ϬϬ Ͳ Ϭ͘ϬϬ Ͳ ;ϯϮ͘ϬϱͿ Ͳ ;ϯϮ͘ϬϱͿ Ͳ `ŝŶƌŽƌĞ ϱϭϮ͘ϯϯ ;ϲϲ͘ϮϳͿ ϰϰϴ͘Ϭϰ ϰϰϴ͘Ϭϰ Ϭ͘ϬϬ Ͳ Ϭ͘ϬϬ Ͳ ;Ϯϱ͘ϬϯͿ Ͳ ;Ϯϱ͘ϬϯͿ Ͳ ϮϮ 'ĂƐƚŽ>ŝƋƵŝĚ/ŶƚĞƌŶĂƟŽŶĂů^ KŝŶDŝůůŝŽŶ ϭϰϭ͘ϮϬ ϭ͘ϲϮ ϭϰϲ͘ϰϮ ϭϰϲ͘ϰϮ Ϭ͘ϬϮ Ͳ Ϭ͘ϬϮ Ͳ Ͳ Ͳ Ͳ Ͳ `ŝŶƌŽƌĞ ϭϭϬ͘Ϯϳ ϭ͘Ϯϲ ϭϭϰ͘ϯϱ ϭϭϰ͘ϯϱ Ϭ͘ϬϮ Ͳ Ϭ͘ϬϮ Ͳ Ͳ Ͳ  Ͳ  Ͳ  Ϯϯ :^W>DŽnjĂŵďŝƋƵĞDŝŶĞƌĂŝƐ> DEŝŶDŝůůŝŽŶ Ϭ͘ϬϮ ;ϲϲ͘ϱϭͿ ϯ͕ϯϵϰ͘ϭϵ ϯ͕ϯϵϰ͘ϭϵ Ϭ͘Ϭϯ Ͳ Ϭ͘Ϭϯ Ͳ ;ϯϱ͘ϱϯͿ Ͳ ;ϯϱ͘ϱϯͿ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;ϭϮ͘ϬϲͿ ϲϭϱ͘ϯϯ ϲϭϱ͘ϯϯ Ϭ͘Ϭϭ Ͳ Ϭ͘Ϭϭ Ͳ ;ϲ͘ϰϰͿ Ͳ ;ϲ͘ϰϰͿ Ͳ Ϯϰ ŶĚƵƌŝŶŐKǀĞƌƐĞĂƐ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ Ϭ͘Ϭϱ ;Ϯ͘ϱϯͿ ϭϮ͘ϳϴ ϭϮ͘ϳϴ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϬϱͿ Ͳ ;Ϭ͘ϬϱͿ Ͳ `ŝŶƌŽƌĞ Ϭ͘Ϯϳ ;ϭϯ͘ϳϱͿ ϲϵ͘ϱϭ ϲϵ͘ϱϭ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϮϵͿ Ͳ ;Ϭ͘ϮϵͿ Ͳ Ϯϱ :ŝŶĚĂůDŝŶŝŶŐΘdžƉůŽƌĂƟŽŶ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ Ϭ͘ϬϬ Ϯ͘ϭϱ ϭϯ͘ϴϯ ϭϯ͘ϴϯ ϭϭ͘ϳϭ Ͳ ϭϭ͘ϳϭ Ͳ Ϭ͘ϬϬ Ͳ Ϭ͘ϬϬ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ϭϭ͘ϲϵ ϳϱ͘Ϯϯ ϳϱ͘Ϯϯ ϲϯ͘ϲϴ Ͳ ϲϯ͘ϲϴ Ͳ Ϭ͘Ϭϭ Ͳ Ϭ͘Ϭϭ Ͳ Ϯϲ :ŝŶĚĂů/ŶǀĞƐƚŵĞŶƚ,ŽůĚŝŶŐƐ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϭ͘ϬϭͿ Ϯ͘ϰϮ Ϯ͘ϰϮ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϬϬͿ Ͳ ;Ϭ͘ϬϬͿ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;Ϭ͘ϬϲͿ ϭϯ͘ϭϰ ϭϯ͘ϭϰ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϬϭͿ Ͳ ;Ϭ͘ϬϭͿ Ͳ Ϯϳ :ŝŶĚĂůĨƌŝĐĂ/ŶǀĞƐƚŵĞŶƚƐ;WƚLJͿ>ƚĚ ZŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;ϳ͘ϮϲͿ ϳϳ͘ϱϴ ϳϳ͘ϱϴ ϯ͘Ϭϳ Ͳ ϯ͘Ϭϳ ϭϰ͘ϭϵ ;ϯ͘ϲϴͿ Ͳ ;ϯ͘ϲϴͿ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;ϰ͘ϮϳͿ ϰϱ͘ϲϬ ϰϱ͘ϲϬ ϭ͘ϴϬ Ͳ ϭ͘ϴϬ ϴ͘ϯϰ ;Ϯ͘ϭϲͿ Ͳ ;Ϯ͘ϭϲͿ Ͳ Ϯϴ KƐŚŽDĂĚĂŐĂƐĐĂƌ^Z> D'ŝŶDŝůůŝŽŶ ϯ͘ϬϬ ;ϱϴϱ͘ϱϳͿ ϯ͕ϰϲϳ͘Ϯϯ ϯ͕ϰϲϳ͘Ϯϯ Ͳ Ͳ Ͳ Ͳ ;ϰ͘ϵϳͿ Ϭ͘ϳϲ ;ϱ͘ϳϯͿ Ͳ `ŝŶƌŽƌĞ Ϭ͘Ϭϭ ;ϭ͘ϰϮͿ ϴ͘ϰϯ ϴ͘ϰϯ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϬϭͿ Ϭ͘ϬϬ ;Ϭ͘ϬϭͿ Ͳ Ϯϵ :ŝŶĚĂůDĂĚĂŐĂƐĐĂƌ^Z> D'ŝŶDŝůůŝŽŶ ϯ͘ϬϬ ;ϱϮϭ͘ϬϰͿ ϯ͕ϭϱϮ͘ϴϴ ϯ͕ϭϱϮ͘ϴϴ Ͳ Ͳ Ͳ Ͳ ;ϭϰϴ͘ϯϭͿ Ϯ͘ϴϯ ;ϭϱϭ͘ϭϰͿ Ͳ `ŝŶƌŽƌĞ Ϭ͘Ϭϭ ;ϭ͘ϮϳͿ ϳ͘ϲϲ ϳ͘ϲϲ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϯϲͿ Ϭ͘Ϭϭ ;Ϭ͘ϯϳͿ Ͳ ϯϬ :ŝŶĚĂů/ŶǀĞƐƟŵĞŶƚŽƐ>ŝŵŝƚĂĚĂ DEŝŶDŝůůŝŽŶ Ϭ͘ϬϮ Ͳ ϭ͘ϵϭ ϭ͘ϵϭ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ Ͳ Ϭ͘ϯϱ Ϭ͘ϯϱ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϯϭ ĞůĚĞŵƉƌĞĞŶĚŝŵĞŶƚŽƐDŝŶĞŝƌŽƐ>ƚĚ͘ DEŝŶDŝůůŝŽŶ Ϭ͘Ϭϯ Ͳ Ϭ͘ϱϵ Ϭ͘ϱϵ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ `ŝŶƌŽƌĞ Ϭ͘Ϭϭ Ͳ Ϭ͘ϭϭ Ϭ͘ϭϭ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϯϮ ĂƐƚĞƌŶ^ŽůŝĚ&ƵĞůƐWƚLJ͘>ƚĚ͘ ZŝŶDŝůůŝŽŶ Ϭ͘ϬϮ ;Ϯ͘ϲϬͿ Ϯϱϴ͘ϰϵ Ϯϱϴ͘ϰϵ Ϭ͘ϵϲ Ͳ Ϭ͘ϵϲ Ͳ ;ϴ͘ϭϳͿ Ͳ ;ϴ͘ϭϳͿ Ͳ `ŝŶƌŽƌĞ Ϭ͘Ϭϭ ;ϭ͘ϱϯͿ ϭϱϭ͘ϵϱ ϭϱϭ͘ϵϱ Ϭ͘ϱϲ Ͳ Ϭ͘ϱϲ Ͳ ;ϰ͘ϴϬͿ Ͳ ;ϰ͘ϴϬͿ Ͳ ϯϯ :ŝŶĚĂůDŝŶŝŶŐ^;WdzͿ>ƚĚ͘ ZŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ϴϭ͘Ϯϴ ϯϳϴ͘ϰϵ ϯϳϴ͘ϰϵ Ͳ Ͳ Ͳ ϱϰϲ͘ϰϭ ϮϬ͘ϴϭ ϱ͘ϴϯ ϭϰ͘ϵϴ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ϰϳ͘ϳϴ ϮϮϮ͘ϱϬ ϮϮϮ͘ϱϬ Ͳ Ͳ Ͳ ϯϮϭ͘Ϯϭ ϭϮ͘Ϯϯ ϯ͘ϰϮ ϴ͘ϴϭ Ͳ ϯϰ :ŝŶĚĂůƌĂƐŝůDŝŶĞƌĂĐĂŽ^͘ Z>ŝŶDŝůůŝŽŶ Ϭ͘ϰϭ ;Ϭ͘ϯϭͿ Ϭ͘ϱϭ Ϭ͘ϱϭ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϬϱͿ Ͳ ;Ϭ͘ϬϱͿ Ͳ `ŝŶƌŽƌĞ ϭ͘ϭϭ ;Ϭ͘ϴϰͿ ϭ͘ϯϴ ϭ͘ϯϴ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϭϰͿ Ͳ ;Ϭ͘ϭϰͿ Ͳ ϯϱ ^ŚĂĚĞĞĚ/ƌŽŶΘ^ƚĞĞůŽ͘>> h^ΨŝŶDŝůůŝŽŶ Ϯ͘ϲϬ ϳϯ͘ϰϵ ϳϳϬ͘ϳϬ ϳϳϬ͘ϳϬ Ͳ Ͳ Ͳ ϱϯϯ͘ϰϮ ϲϵ͘ϵϯ Ͳ ϲϵ͘ϵϯ Ͳ `ŝŶƌŽƌĞ ϭϰ͘ϭϯ ϯϵϵ͘ϳϭ ϰ͕ϭϵϭ͘ϳϴ ϰ͕ϭϵϭ͘ϳϴ Ͳ Ͳ Ͳ Ϯ͕ϵϬϭ͘Ϯϯ ϯϴϬ͘ϯϰ Ͳ ϯϴϬ͘ϯϰ Ͳ ϯϲ :ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌ;ƵƐƚƌĂůŝĂͿWƚLJ>ŝŵŝƚĞĚ h^ΨŝŶ Ϭ͘ϬϬ ϭ͘ϱϰ ϱϲ͘ϯϰ ϱϲ͘ϯϰ ϱϰ͘Ϯϳ Ͳ ϱϰ͘Ϯϳ Ͳ Ϯ͘ϯϮ Ͳ Ϯ͘ϯϮ Ͳ DŝůůŝŽŶ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ϴ͘ϳϯ ϯϭϵ͘ϰϴ ϯϭϵ͘ϰϴ ϯϬϳ͘ϳϰ Ͳ ϯϬϳ͘ϳϰ Ͳ ϭϯ͘ϭϯ Ͳ ϭϯ͘ϭϯ Ͳ ϯϳ :ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌŝŵďĂďǁĞ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;ϭ͘ϯϱͿ Ϭ͘ϬϮ Ϭ͘ϬϮ Ͳ Ͳ Ͳ Ͳ Ϭ͘Ϭϭ Ͳ Ϭ͘Ϭϭ Ͳ `ŝŶƌŽƌĞ Ϭ͘Ϭϭ ;ϳ͘ϯϮͿ Ϭ͘Ϭϵ Ϭ͘Ϭϵ Ͳ Ͳ Ͳ Ͳ Ϭ͘Ϭϯ Ͳ Ϭ͘Ϭϯ Ͳ ϯϴ :ŝŶĚĂůdĂŶnjĂŶŝĂ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ Ϭ͘Ϭϭ ;ϭ͘ϲϱͿ Ϭ͘ϯϮ Ϭ͘ϯϮ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϳϱͿ Ͳ ;Ϭ͘ϳϱͿ Ͳ `ŝŶƌŽƌĞ Ϭ͘Ϭϯ ;ϴ͘ϵϳͿ ϭ͘ϳϮ ϭ͘ϳϮ Ͳ Ͳ Ͳ Ͳ ;ϰ͘ϬϲͿ Ͳ ;ϰ͘ϬϲͿ Ͳ ϯϵ :ŝŶĚĂůĂŵďŝĂ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;ϭ͘ϯϱͿ Ϭ͘ϳϯ Ϭ͘ϳϯ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϬϲͿ Ͳ ;Ϭ͘ϬϲͿ Ͳ `ŝŶƌŽƌĞ Ϭ͘Ϭϭ ;ϳ͘ϯϰͿ ϯ͘ϵϱ ϯ͘ϵϱ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϯϮͿ Ͳ ;Ϭ͘ϯϮͿ Ͳ ϰϬ :ŝŶĨƌŝĐĂ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϭ͘ϴϭͿ Ϭ͘ϳϬ Ϭ͘ϳϬ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϲϲͿ Ͳ ;Ϭ͘ϲϲͿ Ͳ `ŝŶƌŽƌĞ Ϭ͘Ϭϭ ;ϰ͘ϯϵͿ ϯ͘ϳϴ ϯ͘ϳϴ Ͳ Ͳ Ͳ Ͳ ;ϯ͘ϱϵͿ Ͳ ;ϯ͘ϱϵͿ Ͳ ϰϭ :/E>s/>/D/d h^ΨŝŶDŝůůŝŽŶ ϱϴ͘ϱϬ Ͳ ϭϳϵ͘ϵϮ ϭϳϵ͘ϵϮ ϭϲϴ͘ϳϲ Ͳ  ϭϲϴ͘ϳϲ Ͳ Ͳ Ͳ Ͳ Ͳ `ŝŶƌŽƌĞ ϯϭϮ͘ϯϲ Ͳ ϵϲϬ͘ϲϴ ϵϲϬ͘ϲϴ ϵϬϭ͘Ϭϵ Ͳ ϵϬϭ͘Ϭϵ Ͳ Ͳ Ͳ  Ͳ  Ͳ 

188 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements Standalone

^ƚĂƚĞŵĞŶƚƉƵƌƐƵĂŶƚƚŽĞdžĞŵƉƟŽŶƵŶĚĞƌ^ĞĐƟŽŶϮϭϴ;ϴͿ of the Companies Act, 1956 and General Circular no: 2/2011 date 8th February, 2011 ƌĞůĂƟŶŐƚŽSubsidiary Companies

S.No EĂŵĞŽĨƚŚĞƐƵďƐŝĚŝĂƌLJĐŽŵƉĂŶŝĞƐ ƵƌƌĞŶĐLJ Issued & Reserves Total Assets Total Investments Total Turnover WƌŽĮƚͬ Provision for WƌŽĮƚͬ;>ŽƐƐͿ Proposed Subscribed >ŝĂďŝůŝƟĞƐ (Loss) before dĂdžĂƟŽŶ ĂŌĞƌdĂdžĂƟŽŶ Dividend Share Capital dĂdžĂƟŽŶ Long Term Current ϰϮ /ŶĞƌŐLJ;ĂŚĂŵĂƐͿ>ŝŵŝƚĞĚ ŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;ϭ͘ϵϯͿ Ϭ͘Ϭϭ Ϭ͘Ϭ ϭ Ͳ Ͳ Ͳ  Ͳ Ͳ  Ͳ  Ͳ  Ͳ `ŝŶƌŽƌĞ Ϭ͘Ϭϯ ;ϭϬ͘ϯϯͿ Ϭ͘Ϭϰ Ϭ͘Ϭϰ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϰϯ /;ĂƌďĂĚŽƐͿŶĞƌŐLJŽƌƉ ŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϭ͘ϬϮͿ Ϭ͘ϬϬ Ϭ͘ϬϬ Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;Ϭ͘ϭϮͿ Ϭ͘ϬϬ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  ϰϰ /;ĂƌďĂĚŽƐͿDŝŶŝŶŐŽƌƉ ŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϯϯ͘ϵϮͿ ϭϴ͘Ϯϳ ϭϴ͘ Ϯ ϳ Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;ϭϮϳ͘ϳϬͿ ϵϳ͘ϱϵ ϵϳ͘ϱϵ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϰϱ /;ĂƌďĂĚŽƐͿ,ŽůĚŝŶŐƐŽƌƉ ŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϭ͘ϬϮͿ Ϭ͘ϬϬ Ϭ͘Ϭ Ϭ Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;Ϭ͘ϭϮͿ Ϭ͘ϬϬ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  ϰϲ //ŶƚĞƌŶĂƟŽŶĂůĂƌďĂĚŽƐŽƌƉ ŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϭ͘ϬϱͿ Ϭ͘Ϯϵ Ϭ͘Ϯϵ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;Ϭ͘ϮϲͿ ϭ͘ϱϳ ϭ͘ϱϳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  ϰϳ /dƌĂŶƐĂĨƌŝĐĂ;ĂƌďĂĚŽƐͿŽƌƉ ŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϭ͘ϬϭͿ Ϭ͘ϬϬ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;Ϭ͘ϬϱͿ Ϭ͘ϬϬ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  ϰϴ DĞĞƉŽŶŐŶĞƌŐLJ;DĂƵƌŝƟƵƐͿWƚLJ>ŝŵŝƚĞĚ ŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϭ͘ϬϲͿ Ϭ͘ϬϬ Ϭ͘ϬϬ Ϭ͘ϬϬ Ͳ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;Ϭ͘ϯϬͿ Ϭ͘Ϭϯ Ϭ͘Ϭϯ Ϭ͘ϬϬ Ͳ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ  ϰϵ DĞĞƉŽŶŐZĞƐŽƵƌĐĞƐ;DĂƵƌŝƟƵƐͿWƚLJ>ŝŵŝƚĞĚ ŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϭ͘ϬϲͿ Ϭ͘ϬϬ Ϭ͘ϬϬ Ϭ͘ϬϬ Ͳ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;Ϭ͘ϯϬͿ Ϭ͘Ϭϯ Ϭ͘Ϭϯ Ϭ͘ϬϬ Ͳ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ  ϱϬ :ŝŶĚĂůŶĞƌŐLJ^Ă;WƚLJͿ>ŝŵŝƚĞĚ ZŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;ϰϱ͘ϳϬͿ ϯϬϬ͘Ϭϲ ϯϬϬ͘Ϭϲ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;Ϯϲ͘ϴϳͿ ϭϳϲ͘ϯϵ ϭϳϲ͘ϯϵ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϱϭ ŽŶͲdĞƌƌĂDŝŶŝŶŐ;WƚLJͿ>ŝŵŝƚĞĚ ZŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϭ͘ϬϭͿ Ϭ͘ϬϬ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;Ϭ͘ϬϬͿ Ϭ͘ϬϬ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  ϱϮ ^ĂĚͲůĞĐ;WƚLJͿ>ŝŵŝƚĞĚ ZŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϭ͘ϬϭͿ Ϭ͘ϬϬ Ϭ͘ϬϬ Ͳ Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;Ϭ͘ϬϭͿ Ϭ͘ϬϬ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  ϱϯ :ŝŶĚĂůŶĞƌŐLJ;ŽƚƐǁĂŶĂͿWƚLJ>ŝŵŝƚĞĚ tW/ŶDŝůůŝŽŶ Ϭ͘ϬϬ ;ϴ͘ϳϯͿ Ϯϴ͘ϯϯ Ϯϴ͘ϯϯ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;ϱ͘ϳϰͿ ϭϴ͘ϲϱ ϭϴ͘ϲϱ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  Ͳ  ϱϰ :ŝŶĚĂůZĞƐŽƵƌĐĞƐ;ŽƚƐǁĂŶĂͿWƚLJ>ŝŵŝƚĞĚ tW/ŶDŝůůŝŽŶ Ϭ͘ϬϬ ;ϰϵ͘ϴϮͿ ϯϰϮ͘ϯϴ ϯϰϮ͘ϯϴ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;ϯϮ͘ϳϵͿ ϮϮϱ͘ϯϯ ϮϮϱ͘ϯϯ Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  ϱϱ DĞĞƉŽŶŐŶĞƌŐLJ;WƚLJͿ>ŝŵŝƚĞĚ tW/ŶDŝůůŝŽŶ Ϭ͘ϬϬ Ϭ͘ϯϯ ϯϱϭ͘ϵϭ ϯϱϭ͘ϵϭ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ Ϭ͘Ϯϭ Ϯϯϭ͘ϲϬ Ϯϯϭ͘ϲϬ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  Ͳ  ϱϲ DĞĞƉŽŶŐZĞƐŽƵƌĐĞƐ;WƚLJͿ>ŝŵŝƚĞĚ tW/ŶDŝůůŝŽŶ Ϭ͘ϬϬ ;ϭϵ͘ϰϯͿ Ϯϳϯ͘ϰϯ Ϯϳϯ͘ϰϯ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;ϭϮ͘ϳϵͿ ϭϳϵ͘ϵϲ ϭϳϵ͘ϵϲ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϱϳ DĞĞƉŽŶŐ^ĞƌǀŝĐĞ;WƚLJͿ>ŝŵŝƚĞĚ tW/ŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϭ͘ϬϲͿ ϭ͘ϰϲ ϭ͘ ϰ ϲ Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;Ϭ͘ϬϰͿ Ϭ͘ϵϲ Ϭ͘ϵϲ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  ϱϴ DĞĞƉŽŶŐtĂƚĞƌ;WƚLJͿ>ŝŵŝƚĞĚ tW/ŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϭ͘ϭϱͿ ϭϴ͘ϱϳ ϭϴ͘ ϱ ϳ Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;Ϭ͘ϭϬͿ ϭϮ͘ϮϮ ϭϮ͘ϮϮ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϱϵ dƌĂŶƐĨƌŝĐĂůZĂŝů;WƚLJͿ>ŝŵŝƚĞĚ tW/ŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϭ͘ϬϮͿ Ϭ͘ϬϬ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;Ϭ͘ϬϮͿ Ϭ͘ϬϬ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  ϲϬ WĂŶĂĐŽƌĞ/ŶǀĞƐƚŵĞŶƚ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ Ϭ͘ϬϮ Ϭ͘ϬϮ Ϯϳ͘ϰϵ Ϯϳ͘ϰϵ Ϭ͘ϬϬ Ͳ Ϭ͘ϬϬ ϰ͘ϳϭ Ϭ͘ϬϮ Ͳ Ϭ͘ϬϮ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϭϭ Ϭ͘ϭϭ ϭϰϵ͘ϱϭ ϭϰϵ͘ϱϭ Ϭ͘Ϭϭ Ͳ Ϭ͘Ϭϭ Ϯϱ͘ϲϭ Ϭ͘ϭϭ Ͳ Ϭ͘ϭϭ Ͳ ϲϭ ŽƌĞŵďŝƟŽŶ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ Ϭ͘ϬϬ Ͳ ϭ͘ϴϱ ϭ͘ϴϱ Ͳ Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  `ŝŶƌŽƌĞ Ϭ͘ϬϬ Ͳ ϭϬ͘Ϭϲ ϭϬ͘Ϭϲ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϲϮ ŽƌĞ&ŽƌƚĞ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ Ϭ͘ϬϬ Ͳ ϰ͘Ϭϱ ϰ͘Ϭϱ Ͳ Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  `ŝŶƌŽƌĞ Ϭ͘ϬϬ Ͳ ϮϮ͘Ϭϭ ϮϮ͘Ϭϭ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϲϯ ŽƌĞ/ŶƚĞŐƌŝƚLJ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ Ϭ͘ϬϬ Ͳ ϰ͘Ϭϱ ϰ͘Ϭϱ Ͳ Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  `ŝŶƌŽƌĞ Ϭ͘ϬϬ Ͳ ϮϮ͘Ϭϭ ϮϮ͘Ϭϭ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϲϰ ŽƌĞsŝƐŝŽŶ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ Ϭ͘ϬϬ Ͳ ϭ͘ϴϱ ϭ͘ϴϱ Ͳ Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  `ŝŶƌŽƌĞ Ϭ͘ϬϬ Ͳ ϭϬ͘Ϭϲ ϭϬ͘Ϭϲ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϲϱ :ŝŶĚĂůDŝŶŝŶŐEĂŵŝďŝĂ;WƚLJͿ>ŝŵŝƚĞĚ EŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϯ͘ϬϳͿ Ϯ͘Ϭϵ Ϯ͘Ϭϵ Ͳ Ͳ Ͳ Ͳ ;Ϯ͘ϬϳͿ Ͳ ;Ϯ͘ϬϳͿ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;ϭ͘ϮϱͿ ϭ͘Ϯϲ ϭ͘Ϯϲ Ͳ Ͳ Ͳ Ͳ ;ϭ͘ϮϱͿ Ͳ ;ϭ͘ϮϱͿ Ͳ ϲϲ :ŝŶĚĂůŽƚƐǁĂŶĂ;WƚLJͿ>ƚĚ͘ tW/ŶDŝůůŝŽŶ Ϭ͘ϬϬ ;ϭ͘ϭϵͿ ϭ͘Ϯϱ ϭ͘Ϯϱ Ͳ Ͳ Ͳ Ͳ ;ϭ͘ϭϵͿ Ͳ ;ϭ͘ϭϵͿ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ ;Ϭ͘ϳϴͿ Ϭ͘ϴϮ Ϭ͘ϴϮ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϳϴͿ Ͳ ;Ϭ͘ϳϴͿ Ͳ ϲϳ dĂďůĞƚůƵĞdƌĂĚĞŶĚ/ŶǀĞƐƚ;WƚLJͿ>ŝŵŝƚĞĚ ZŝŶDŝůůŝŽŶ Ϭ͘ϬϬ Ͳ Ϭ͘ϬϬ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ `ŝŶƌŽƌĞ Ϭ͘ϬϬ Ͳ Ϭ͘ϬϬ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ  Ͳ  ϲϴ dƌĂŶƐƐŝĂDŝŶŝŶŐWƚĞ͘>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ Ϭ͘ϬϬ ;Ϭ͘ϬϭͿ Ϭ͘ϬϬ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϬϭͿ Ͳ ;Ϭ͘ϬϭͿ Ͳ /EZŝŶƌŽƌĞ Ϭ͘ϬϬ ;Ϭ͘ϬϲͿ Ϭ͘ϬϬ Ϭ͘ϬϬ Ͳ Ͳ Ͳ Ͳ ;Ϭ͘ϬϲͿ Ͳ ;Ϭ͘ϬϲͿ Ͳ ϲϵ :ŝŶĚĂůĨƌŝĐĂ>ŝďĞƌŝĂ>ƚĚ h^ΨŝŶDŝůůŝŽŶ Ϭ͘ϬϬ Ͳ Ϭ͘Ϭϴ Ϭ͘Ϭϴ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ /EZŝŶƌŽƌĞ Ϭ͘ϬϬ Ͳ Ϭ͘ϰϮ Ϭ͘ϰϮ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ ϳϬ :ŝŶĚĂůĨƌŝĐĂ^Ă h^ΨŝŶDŝůůŝŽŶ ͲͲͲͲͲͲͲͲͲ Ͳ ͲͲ /EZŝŶƌŽƌĞ ͲͲͲͲͲͲͲͲͲ Ͳ ͲͲ ϳϭ :ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌ;ĐͿ>ŝŵŝƚĞĚ h^ΨŝŶDŝůůŝŽŶ ͲͲͲͲͲͲͲͲͲ Ͳ ͲͲ /EZŝŶƌŽƌĞ ͲͲͲͲͲͲͲͲͲ Ͳ ͲͲ

ΎdžĐŚĂŶŐĞZĂƚĞĂƐŽŶϯϭ͘Ϭϯ͘ϮϬϭϯ͗h^Ψϭс`ϱϰ͘ϯϴϵϯ/Zϭс` Ϭ͘ϬϬϱϱϲϴKϭс` ϳ͘ϴϭDEdϭс` Ϭ͘ϬϯϴϵϴDEϭс` ϭ͘ϴϭϮϵZϭс`ϱ͘ϴϳϴϱD'ϭс` Ϭ͘ϬϮϰϯhϭс` ϱϲ͘ϳϬϲϮZ>ϭс` Ϯϲ͘ϵϯϴϳtWϭс` ϲ͘ϱϴϭϰϭс` ϱϯ͘ϯϵϱϱEϭс ` ϲ͘Ϭϰϯϯϴ

189 Annual Report 2012-13 Independent Auditors’ Report to the Board of Directors of Jindal Steel & Power Limited

tĞ ŚĂǀĞ ĂƵĚŝƚĞĚ ƚŚĞ ĂĐĐŽŵƉĂŶLJŝŶŐ ĐŽŶƐŽůŝĚĂƚĞĚ ĮŶĂŶĐŝĂů An audit involves performing procedures to obtain audit evidence statements of Jindal Steel & Power Limited (the ‘Company’) and ĂďŽƵƚƚŚĞĂŵŽƵŶƚƐĂŶĚĚŝƐĐůŽƐƵƌĞƐŝŶƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂů its subsidiaries, joint ventures and associates (together referred ƐƚĂƚĞŵĞŶƚƐ͘ dŚĞ ƉƌŽĐĞĚƵƌĞƐ ƐĞůĞĐƚĞĚ ĚĞƉĞŶĚ ŽŶ ƚŚĞ ĂƵĚŝƚŽƌ͛Ɛ to as the ‘Group’) which comprise the consolidated Balance Sheet judgment, including the assessment of the risks of the material ĂƐĂƚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ͕ĂŶĚƚŚĞĐŽŶƐŽůŝĚĂƚĞĚ^ƚĂƚĞŵĞŶƚŽĨWƌŽĮƚ ŵŝƐƐƚĂƚĞŵĞŶƚŽĨƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ǁŚĞƚŚĞƌ and Loss and the consolidated Cash Flow Statement for the year ĚƵĞƚŽĨƌĂƵĚŽƌĞƌƌŽƌ͘/ŶŵĂŬŝŶŐƚŚŽƐĞƌŝƐŬĂƐƐĞƐƐŵĞŶƚƐ͕ƚŚĞĂƵĚŝƚŽƌ then ended, and Notes to Consolidated Financial Statements ĐŽŶƐŝĚĞƌƐŝŶƚĞƌŶĂůĐŽŶƚƌŽůƌĞůĞǀĂŶƚƚŽƚŚĞŽŵƉĂŶLJ͛ƐƉƌĞƉĂƌĂƟŽŶ ĐŽŵƉƌŝƐŝŶŐŽĨĂƐƵŵŵĂƌLJŽĨƐŝŐŶŝĮĐĂŶƚĂĐĐŽƵŶƟŶŐƉŽůŝĐŝĞƐĂŶĚ ĂŶĚƉƌĞƐĞŶƚĂƟŽŶŽĨƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƚŚĂƚ ŽƚŚĞƌĞdžƉůĂŶĂƚŽƌLJŝŶĨŽƌŵĂƟŽŶ͘ give a true and fair view in order to design audit procedures ƚŚĂƚĂƌĞĂƉƉƌŽƉƌŝĂƚĞŝŶƚŚĞĐŝƌĐƵŵƐƚĂŶĐĞƐ͘ŶĂƵĚŝƚĂůƐŽŝŶĐůƵĚĞƐ MANAGEMENT’S RESPONSIBILITY FOR THE ĞǀĂůƵĂƟŶŐ ƚŚĞ ĂƉƉƌŽƉƌŝĂƚĞŶĞƐƐ ŽĨ ĂĐĐŽƵŶƟŶŐ ƉŽůŝĐŝĞƐ ƵƐĞĚ CONSOLIDATED FINANCIAL STATEMENTS ĂŶĚ ƚŚĞ ƌĞĂƐŽŶĂďůĞŶĞƐƐ ŽĨ ƚŚĞ ĂĐĐŽƵŶƟŶŐ ĞƐƟŵĂƚĞƐ ŵĂĚĞ ďLJ DĂŶĂŐĞŵĞŶƚ ŝƐ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ƚŚĞ ƉƌĞƉĂƌĂƟŽŶ ŽĨ ƚŚĞƐĞ ŵĂŶĂŐĞŵĞŶƚ͕ ĂƐ ǁĞůů ĂƐ ĞǀĂůƵĂƟŶŐ ƚŚĞ ŽǀĞƌĂůů ƉƌĞƐĞŶƚĂƟŽŶ ŽĨ ĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƚŚĂƚŐŝǀĞĂƚƌƵĞĂŶĚĨĂŝƌǀŝĞǁ ƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ ŽĨ ƚŚĞ ĐŽŶƐŽůŝĚĂƚĞĚ ĮŶĂŶĐŝĂů ƉŽƐŝƟŽŶ͕ ĐŽŶƐŽůŝĚĂƚĞĚ ĮŶĂŶĐŝĂů ƉĞƌĨŽƌŵĂŶĐĞ ĂŶĚ ĐŽŶƐŽůŝĚĂƚĞĚ ĐĂƐŚ ŇŽǁƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ŝŶ tĞďĞůŝĞǀĞƚŚĂƚƚŚĞĂƵĚŝƚĞǀŝĚĞŶĐĞǁĞŚĂǀĞŽďƚĂŝŶĞĚŝƐƐƵĸĐŝĞŶƚ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ĂĐĐŽƵŶƟŶŐ ƉƌŝŶĐŝƉůĞƐ ŐĞŶĞƌĂůůLJ ĂĐĐĞƉƚĞĚ ŝŶ ĂŶĚĂƉƉƌŽƉƌŝĂƚĞƚŽƉƌŽǀŝĚĞĂďĂƐŝƐĨŽƌŽƵƌĂƵĚŝƚŽƉŝŶŝŽŶ͘ /ŶĚŝĂŵŽƌĞƉĂƌƟĐƵůĂƌůLJŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐŽĨ OPINION ĐĐŽƵŶƟŶŐ^ƚĂŶĚĂƌĚ;^ͿϮϭ͕ŽŶƐŽůŝĚĂƚĞĚ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ͕ /ŶŽƵƌŽƉŝŶŝŽŶĂŶĚƚŽƚŚĞďĞƐƚŽĨŽƵƌŝŶĨŽƌŵĂƟŽŶĂŶĚĂĐĐŽƌĚŝŶŐ ĐĐŽƵŶƟŶŐ ^ƚĂŶĚĂƌĚ ;^Ϳ Ϯϯ͕ ĐĐŽƵŶƟŶŐ ĨŽƌ /ŶǀĞƐƚŵĞŶƚƐ ŝŶ ƚŽ ƚŚĞ ĞdžƉůĂŶĂƟŽŶƐ ŐŝǀĞŶ ƚŽ ƵƐ͕ ƚŚĞ ĐŽŶƐŽůŝĚĂƚĞĚ ĮŶĂŶĐŝĂů ƐƐŽĐŝĂƚĞƐŝŶŽŶƐŽůŝĚĂƚĞĚ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĂŶĚĐĐŽƵŶƟŶŐ statements give a true and fair view in conformity with the ^ƚĂŶĚĂƌĚ;^ͿϮϳ͕&ŝŶĂŶĐŝĂůZĞƉŽƌƟŶŐŽĨ/ŶƚĞƌĞƐƚƐŝŶ:ŽŝŶƚsĞŶƚƵƌĞƐ ĂĐĐŽƵŶƟŶŐƉƌŝŶĐŝƉůĞƐŐĞŶĞƌĂůůLJĂĐĐĞƉƚĞĚŝŶ/ŶĚŝĂ͗ ĂƐŶŽƟĮĞĚƵŶĚĞƌƚŚĞŽŵƉĂŶŝĞƐ;ĐĐŽƵŶƟŶŐ^ƚĂŶĚĂƌĚƐͿZƵůĞƐ͕ ϮϬϬϲ͘dŚŝƐƌĞƐƉŽŶƐŝďŝůŝƚLJŝŶĐůƵĚĞƐƚŚĞĚĞƐŝŐŶ͕ŝŵƉůĞŵĞŶƚĂƟŽŶĂŶĚ a) In the case of the consolidated Balance Sheet, of the state ŵĂŝŶƚĞŶĂŶĐĞŽĨŝŶƚĞƌŶĂůĐŽŶƚƌŽůƐƌĞůĞǀĂŶƚƚŽƚŚĞƉƌĞƉĂƌĂƟŽŶĂŶĚ ŽĨĂīĂŝƌƐŽĨƚŚĞŽŵƉĂŶLJĂƐĂƚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ͖ ƉƌĞƐĞŶƚĂƟŽŶŽĨƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƚŚĂƚŐŝǀĞ ďͿ /ŶƚŚĞĐĂƐĞŽĨƚŚĞĐŽŶƐŽůŝĚĂƚĞĚ^ƚĂƚĞŵĞŶƚŽĨWƌŽĮƚĂŶĚ>ŽƐƐ͕ a true and fair view and are free from material misstatements, ŽĨƚŚĞƉƌŽĮƚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚŽŶƚŚĂƚĚĂƚĞ͖ĂŶĚ ǁŚĞƚŚĞƌĚƵĞƚŽĨƌĂƵĚŽƌĞƌƌŽƌ͘ c) In the case of the consolidated Cash Flow Statement, of the AUDITOR’S RESPONSIBILITY ĐĂƐŚŇŽǁƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚŽŶƚŚĂƚĚĂƚĞ͘ Our responsibility is to express an opinion on these consolidated ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ ďĂƐĞĚ ŽŶ ŽƵƌ ĂƵĚŝƚ͘ tĞ ĐŽŶĚƵĐƚĞĚ ŽƵƌ EMPHASIS OF MATTER ĂƵĚŝƚ ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ƚŚĞ ^ƚĂŶĚĂƌĚƐ ŽŶ ƵĚŝƟŶŐ ŝƐƐƵĞĚ ďLJ tĞ ĚƌĂǁ ĂƩĞŶƟŽŶ ƚŽ ƐƵď ŶŽƚĞ ;ĂͿ ŽĨ EŽƚĞ ϰ ŽĨ ĐŽŶƐŽůŝĚĂƚĞĚ ƚŚĞ/ŶƐƟƚƵƚĞŽĨŚĂƌƚĞƌĞĚĐĐŽƵŶƚĂŶƚƐŽĨ/ŶĚŝĂ͘dŚŽƐĞ^ƚĂŶĚĂƌĚƐ ĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƌĞŐĂƌĚŝŶŐĂĐĐŽƵŶƟŶŐĨŽƌƐĂůĞƐƚĂdžŝŶĐůƵĚĞĚ ƌĞƋƵŝƌĞƚŚĂƚǁĞĐŽŵƉůLJǁŝƚŚĞƚŚŝĐĂůƌĞƋƵŝƌĞŵĞŶƚƐĂŶĚƉůĂŶĂŶĚ in the sales price of products sold out of sales tax exempted perform the audit to obtain reasonable assurance about whether ƵŶŝƚ ƵŶĚĞƌ ^ĂůĞƐ dĂdž ^ƵďƐŝĚLJͬ ĂƉŝƚĂů ZĞƐĞƌǀĞ ĐĐŽƵŶƚ ŝŶ ƚŚĞ ƚŚĞ ĐŽŶƐŽůŝĚĂƚĞĚ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ ĂƌĞ ĨƌĞĞ ĨƌŽŵ ŵĂƚĞƌŝĂů ĐŝƌĐƵŵƐƚĂŶĐĞƐ ĂƐ ĞdžƉůĂŝŶĞĚ ŝŶ ƚŚĞ ŶŽƚĞ͘ KƵƌ ŽƉŝŶŝŽŶ ŝƐ ŶŽƚ ŵŝƐƐƚĂƚĞŵĞŶƚ͘ ƋƵĂůŝĮĞĚŝŶƚŚŝƐŵĂƩĞƌ͘

190 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Independent Auditors’ Report to the Board of Directors of Jindal Steel & Power Limited

OTHER MATTERS ũŽŝŶƚ ǀĞŶƚƵƌĞƐ ĂŶĚ ĂƐƐŽĐŝĂƚĞƐ ŝŶ ƚŚĞƐĞ ĐŽŶƐŽůŝĚĂƚĞĚ ĮŶĂŶĐŝĂů tĞĂƵĚŝƚĞĚƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨ͗ ƐƚĂƚĞŵĞŶƚƐ͘

Ͳ ŽŶĞ ũŽŝŶƚ ǀĞŶƚƵƌĞ͕ ǁŚŽƐĞ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ ƌĞŇĞĐƚ ƚŚĞ &ƵƌƚŚĞƌ͕ŝŶƚŚĞĐĂƐĞŽĨĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨ͗ Group’s share of total assets (net) of `ϭ͘ϬϬĐƌŽƌĞĂƐĂƚϯϭƐƚ Ͳ ĮŌLJ ĨŽƵƌ ƐƵďƐŝĚŝĂƌŝĞƐ͕ ǁŚŽƐĞ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ ƌĞŇĞĐƚ March, 2013, total revenues of ` E/>ĂŶĚŶĞƚĐĂƐŚŝŶŇŽǁƐ the Group’s share of total assets (net) of `ϳϴϳ͘ϳϳĐƌŽƌĞĂƐ ĂŵŽƵŶƟŶŐƚŽ`;Ϭ͘ϬϭͿĐƌŽƌĞĨŽƌƚŚĞLJĞĂƌƚŚĞŶĞŶĚĞĚ͖ at 31st March, 2013, total revenues of ` Ϯϲ͘ϳϰĐƌŽƌĞĂŶĚ Ͳ ŽŶĞ ĂƐƐŽĐŝĂƚĞ ǁŚŽƐĞ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ ƌĞŇĞĐƚ ƚŚĞ ŶĞƚĐĂƐŚŝŶŇŽǁƐĂŵŽƵŶƟŶŐƚŽ` ;Ϭ͘ϲϴͿĐƌŽƌĞĨŽƌƚŚĞLJĞĂƌ 'ƌŽƵƉ͛ƐƐŚĂƌĞŽĨƉƌŽĮƚƵƉƚŽϯϭƐƚDĂƌĐŚ͕ϮϬϭϯŽĨ`Ϯϭϭ͘ϲϱ ƚŚĞŶĞŶĚĞĚ͖ ĐƌŽƌĞĂŶĚƚŚĞ'ƌŽƵƉ͛ƐƐŚĂƌĞŽĨƉƌŽĮƚŽĨ` ϯϰ͘ϲϴĐƌŽƌĞĨŽƌƚŚĞ Ͳ ƐĞǀĞŶ ĂƐƐŽĐŝĂƚĞƐ ǁŚŽƐĞ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ ƌĞŇĞĐƚ ƚŚĞ LJĞĂƌĞŶĚĞĚŽŶƚŚĂƚĚĂƚĞ͖ 'ƌŽƵƉ͛Ɛ ƐŚĂƌĞ ŽĨ ƉƌŽĮƚ ƵƉƚŽ ϯϭƐƚ DĂƌĐŚ͕ ϮϬϭϯ ŽĨ ` ϱ͘ϯϮ ĂƐĐŽŶƐŝĚĞƌĞĚŝŶƚŚĞƐĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ ĐƌŽƌĞĂŶĚƚŚĞ'ƌŽƵƉ͛ƐƐŚĂƌĞŽĨƉƌŽĮƚŽĨ` ϱ͘ϱϮĐƌŽƌĞĨŽƌƚŚĞ LJĞĂƌĞŶĚĞĚŽŶƚŚĂƚĚĂƚĞ͖ tĞĚŝĚŶŽƚĂƵĚŝƚƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨ͗ ĂƐ ĐŽŶƐŝĚĞƌĞĚ ŝŶ ƚŚĞƐĞ ĐŽŶƐŽůŝĚĂƚĞĚ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ͕ ƚŚĞ Ͳ ŶŝŶĞƚĞĞŶ ƐƵďƐŝĚŝĂƌŝĞƐ͕ ǁŚŽƐĞ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ ƌĞŇĞĐƚ ĮŐƵƌĞƐ ĂŶĚ ŽƚŚĞƌ ƌĞůĂƚĞĚ ŝŶĨŽƌŵĂƟŽŶ ƵƐĞĚ ĨŽƌ ĐŽŶƐŽůŝĚĂƟŽŶ the Group’s share of total assets (net) of `ϭϯ͕ϲϴϯ͘ϯϲĐƌŽƌĞ ĂƌĞ ďĂƐĞĚ ŽŶ ƚŚĞ ŵĂŶĂŐĞŵĞŶƚ͛Ɛ ĞƐƟŵĂƚĞ ĂŶĚ ĂƌĞ͕ ƚŚĞƌĞĨŽƌĞ͕ as at 31st March, 2013, total revenues of ` ϱ͕ϴϵϲ͘ϴϮĐƌŽƌĞ ƵŶĂƵĚŝƚĞĚ͘ ĂŶĚ ŶĞƚ ĐĂƐŚ ŝŶŇŽǁƐ ĂŵŽƵŶƟŶŐ ƚŽ ` ϯϬ͘ϰϱ ĐƌŽƌĞ ĨŽƌ ƚŚĞ LJĞĂƌƚŚĞŶĞŶĚĞĚ͖ KƵƌ ŽƉŝŶŝŽŶ ŝƐ ŶŽƚ ƋƵĂůŝĮĞĚ ŝŶ ƌĞƐƉĞĐƚ ŽĨ ƚŚĞ ĂĨŽƌĞƐĂŝĚ ͚KƚŚĞƌ DĂƩĞƌƐ͛͘ Ͳ ƚǁŽũŽŝŶƚǀĞŶƚƵƌĞƐ͕ǁŚŽƐĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƌĞŇĞĐƚƚŚĞ ` Group’s share of total assets (net) of ϲ͘ϲϱĐƌŽƌĞĂƐĂƚϯϭƐƚ For S. S. KOTHARI MEHTA & COMPANY March, 2013, total revenues of ` E/>ĂŶĚŶĞƚĐĂƐŚŝŶŇŽǁƐ Chartered Accountants ĂŵŽƵŶƟŶŐƚŽ` Ϯ͘ϵϵĐƌŽƌĞĨŽƌƚŚĞLJĞĂƌƚŚĞŶĞŶĚĞĚ͖ &ŝƌŵZĞŐŝƐƚƌĂƟŽŶEŽ͘ϬϬϬϳϱϲE ĂƐĐŽŶƐŝĚĞƌĞĚŝŶƚŚĞƐĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘dŚĞƐĞ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ ĂŶĚ ŽƚŚĞƌ ƌĞůĂƚĞĚ ĮŶĂŶĐŝĂů ŝŶĨŽƌŵĂƟŽŶ have been audited by other auditors whose reports have been K. K. Tulshan furnished to us by the management, and our opinion is based WůĂĐĞ͗EĞǁĞůŚŝ Partner solely on the report of the other auditors, in so far as it relates ĂƚĞ͗ϮϱƚŚƉƌŝů͕ϮϬϭϯ DĞŵďĞƌƐŚŝƉEŽ͘ϴϱϬϯϯ to the amounts included in respect of these subsidiaries,

191 Annual Report 2012-13 ŽŶƐŽůŝĚĂƚĞĚĂůĂŶĐĞ^ŚĞĞƚ as at 31st March, 2013

(` in Crore) A s a t A s a t WĂƌƟĐƵůĂƌƐ Note No. ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ I. EQUITY AND LIABILITIES (1) Shareholders’ Funds (a) Share Capital 3 ϵϯ͘ϰϴ ϵϯ͘ϰϴ (b) Reserves and Surplus ϰ Ϯϭ͕ϭϱϴ͘ϳϴ ϭϴ͕Ϭϭϳ͘ϲϮ ;ϮͿ Minority Interest ϱϱϳ͘Ϯϳ ϯϬϳ͘ϭϬ (3) EŽŶͲƵƌƌĞŶƚ>ŝĂďŝůŝƟĞƐ (a) Long-term Borrowings ϱ ϭϱ͕ϰϬϭ͘ϲϰ ϭϭ͕ϭϳϵ͘ϲϯ (b) ĞĨĞƌƌĞĚdĂdž>ŝĂďŝůŝƟĞƐ;EĞƚͿ 32 ϭ͕ϯϯϲ͘ϱϰ ϭ͕ϭϵϭ͘ϵϱ (c) KƚŚĞƌ>ŽŶŐͲƚĞƌŵ>ŝĂďŝůŝƟĞƐ 6 ϱϲϭ͘ϳϵ ϭϰϮ͘Ϭϲ (d) Long-term Provisions 7 ϯϮ͘ϳϭ ϯϯ͘ϱϰ (4) ƵƌƌĞŶƚ>ŝĂďŝůŝƟĞƐ (a) Short-term Borrowings ϴ ϴ͕Ϯϰϳ͘ϭϴ ϰ͕ϱϲϵ͘ϯϭ (b) dƌĂĚĞWĂLJĂďůĞƐ ϵ ϭ͕ϯϵϴ͘ϮϬ ϭ͕Ϯϱϭ͘ϯϲ (c) KƚŚĞƌƵƌƌĞŶƚ>ŝĂďŝůŝƟĞƐ 10 ϯ͕ϰϬϭ͘Ϯϱ ϰ͕ϭϭϬ͘ϭϲ (d) Short-term Provisions 11 ϰ͕ϴϴϯ͘ϴϬ ϰ͕ϭϭϭ͘ϯϯ Total ϱϳ͕ϬϳϮ͘ϲϰ ϰϱ͕ϬϬϳ͘ϱϰ II. ASSETS (1) Non-Current Assets (a) Fixed Assets (i) dĂŶŐŝďůĞƐƐĞƚƐ 12 ϭϵ͕Ϯϱϰ͘ϱϱ ϭϲ͕ϰϲϮ͘ϲϯ (ii) Intangible Assets -Intangible Assets 12 ϮϬ͘ϭϬ ϯϭ͘ϯϵ Ͳ'ŽŽĚǁŝůůŽŶŽŶƐŽůŝĚĂƟŽŶ ϭϱϰ͘Ϯϱ ϵϭ͘ϳϲ (iii) Capital Work-in-Progress 12 ϭϴ͕ϬϴϮ͘ϴϰ ϭϯ͕ϰϳϮ͘Ϭϱ (iv) /ŶƚĂŶŐŝďůĞĂƐƐĞƚƐhŶĚĞƌĞǀĞůŽƉŵĞŶƚ ϭ͕ϭϰϳ͘ϰϱ ϭϳϵ͘ϵϬ (b) Non-current investments 13 ϴϬϴ͘ϴϲ ϯϳϳ͘ϲϮ (c) Long-term Loans and Advances ϭϰ Ϯ͕ϰϮϭ͘ϰϯ Ϯ͕ϭϴϬ͘ϵϰ (d) Other Non-Current Assets ϭϱ ϭ͘ϵϱ ϭϰ͘Ϯϰ ;ϮͿ Current Assets (a) Inventories 16 ϰ͕ϱϮϰ͘ϭϳ ϯ͕ϱϳϵ͘ϱϯ (b) dƌĂĚĞZĞĐĞŝǀĂďůĞƐ 17 ϭ͕ϵϱϰ͘ϭϯ ϭ͕ϯϬϲ͘ϳϱ (c) Cash and Cash Balances ϭϴ ϮϬϬ͘ϭϯ ϭϰϵ͘Ϯϭ (d) Short-term Loans and Advances ϭϵ ϴ͕Ϭϳϴ͘ϳϵ ϲ͕ϵϮϳ͘Ϯϭ (e) Other Current Assets 20 ϰϮϯ͘ϵϵ Ϯϯϰ͘ϯϭ Total ϱϳ͕ϬϳϮ͘ϲϰ ϰϱ͕ϬϬϳ͘ϱϰ

KǀĞƌǀŝĞǁΘ^ŝŐŶŝĮĐĂŶƚĐĐŽƵŶƟŶŐWŽůŝĐŝĞƐ 1 & 2

dŚĞŶŽƚĞƐƌĞĨĞƌƌĞĚƚŽĂďŽǀĞĨŽƌŵĂŶŝŶƚĞŐƌĂůƉĂƌƚŽĨĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ In terms of our report of even date For & on behalf of the Board For S. S. Kothari Mehta & Co. Naveen Jindal Ravi Uppal Chartered Accountants Chairman DĂŶĂŐŝŶŐŝƌĞĐƚŽƌΘK &ŝƌŵZĞŐŝƐƚƌĂƟŽŶEŽ͘ϬϬϬϳϱϲE /E͗ϬϬϬϬϭϱϮϯ /E͗ϬϬϬϮϱϵϳϬ

K. K. Tulshan Anand Goel Sushil K Maroo Partner :ŽŝŶƚDĂŶĂŐŝŶŐŝƌĞĐƚŽƌ ĞƉƵƚLJDĂŶĂŐŝŶŐŝƌĞĐƚŽƌ DĞŵďĞƌƐŚŝƉEŽ͘ϴϱϬϯϯ /E͗ϬϬϬϬϭϲϯϱ /E͗ϬϬϬϱϰϭϬϭ WůĂĐĞ͗EĞǁĞůŚŝ K. Rajagopal T. K. Sadhu ĂƚĞĚ͗ϮϱƚŚƉƌŝů͕ϮϬϭϯ 'ƌŽƵƉ&KΘŝƌĞĐƚŽƌ Company Secretary

192 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

ŽŶƐŽůŝĚĂƚĞĚ^ƚĂƚĞŵĞŶƚŽĨWƌŽĮƚĂŶĚ>ŽƐƐ for the year ended 31st March, 2013

(` in Crore) For the year ended For the year ended WĂƌƟĐƵůĂƌƐ Note No. ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ REVENUE ZĞǀĞŶƵĞĨƌŽŵŽƉĞƌĂƟŽŶƐ;ŐƌŽƐƐͿ 21 Ϯϭ͕ϳϯϳ͘ϵϯ ϭϵ͕ϲϭϲ͘ϰϲ >ĞƐƐ͗džĐŝƐĞĚƵƚLJ ϭ͕ϵϯϭ͘ϭϱ ϭ͕ϰϬϳ͘ϴϲ ZĞǀĞŶƵĞĨƌŽŵŽƉĞƌĂƟŽŶƐ;ŶĞƚͿ ϭϵ͕ϴϬϲ͘ϳϴ ϭϴ͕ϮϬϴ͘ϲϬ Other Income 22 ϭϯϲ͘ϰϮ ϭϰϭ͘ϵϰ Total Revenue ϭϵ͕ϵϰϯ͘ϮϬ ϭϴ͕ϯϱϬ͘ϱϰ EXPENSES Cost of materials consumed 23 ϲ͕ϯϬϲ͘ϴϵ ϱ͕ϰϲϬ͘ϯϴ WƵƌĐŚĂƐĞŽĨ^ƚŽĐŬͲŝŶͲdƌĂĚĞ Ϯϰ ϵϭ͘ϭϲ Ϯϭϳ͘ϭϴ ŚĂŶŐĞƐŝŶŝŶǀĞŶƚŽƌŝĞƐŽĨĮŶŝƐŚĞĚŐŽŽĚƐ͕ǁŽƌŬͲŝŶͲƉƌŽĐĞƐƐĂŶĚ Ϯϱ ;Ϯϰϳ͘ϬϴͿ ;ϯϲϲ͘ϰϲͿ stock-in-trade ŵƉůŽLJĞĞďĞŶĞĮƚƐĞdžƉĞŶƐĞ 26 ϲϰϭ͘ϰϵ ϱϵϭ͘Ϯϵ Finance costs 27 ϳϱϴ͘ϭϲ ϯϲϬ͘Ϭϰ ĞƉƌĞĐŝĂƟŽŶĂŶĚĂŵŽƌƟƐĂƟŽŶĞdžƉĞŶƐĞ ϭ͕ϱϯϵ͘ϮϮ ϭ͕ϯϴϲ͘ϰϳ Other expenses Ϯϴ ϳ͕Ϭϭϵ͘ϵϭ ϱ͕ϱϭϯ͘Ϭϰ Total Expenses ϭϲ͕ϭϬϵ͘ϳϱ ϭϯ͕ϭϲϭ͘ϵϰ WƌŽĮƚďĞĨŽƌĞƚĂdž ϯ͕ϴϯϯ͘ϰϱ ϱ͕ϭϴϴ͘ϲϬ dĂdžĞdžƉĞŶƐĞ͗ (1) Current tax ϳϳϳ͘Ϯϰ ϵϵϵ͘ϴϳ ;ϮͿĞĨĞƌƌĞĚƚĂdž ϭϰϰ͘ϱϵ ϭϴϲ͘ϰϳ Total Tax Expenses ϵϮϭ͘ϴϯ ϭ͕ϭϴϲ͘ϯϰ WƌŽĮƚĂŌĞƌƚĂdž Ϯ͕ϵϭϭ͘ϲϮ ϰ͕ϬϬϮ͘Ϯϲ ͲĚĚͬ;>ĞƐƐͿ͗^ŚĂƌĞŝŶƉƌŽĮƚͬ;ůŽƐƐͿŽĨƐƐŽĐŝĂƚĞƐ ϰϬ͘ϮϬ ϮϬ͘Ϭϯ ͲĚĚͬ;>ĞƐƐͿ͗DŝŶŽƌŝƚLJ/ŶƚĞƌĞƐƚ ;ϰϭ͘ϳϭͿ ;ϱϳ͘ϰϬͿ WƌŽĮƚĨŽƌƚŚĞLJĞĂƌ Ϯ͕ϵϭϬ͘ϭϭ ϯ͕ϵϲϰ͘ϴϵ ĂƌŶŝŶŐƐƉĞƌĞƋƵŝƚLJƐŚĂƌĞŽĨĨĂĐĞǀĂůƵĞŽĨ` 1 each 33 (1) Basic (in `) ϯϭ͘ϭϯ ϰϮ͘ϰϮ ;ϮͿŝůƵƚĞĚ;ŝŶ`) ϯϭ͘ϭϯ ϰϮ͘ϰϮ

KǀĞƌǀŝĞǁΘ^ŝŐŶŝĮĐĂŶƚĐĐŽƵŶƟŶŐWŽůŝĐŝĞƐ 1 & 2

dŚĞĂĐĐŽŵƉĂŶLJŝŶŐŶŽƚĞƐĨŽƌŵĂŶŝŶƚĞŐƌĂůƉĂƌƚŽĨĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ In terms of our report of even date For & on behalf of the Board For S. S. Kothari Mehta & Co. Naveen Jindal Ravi Uppal Chartered Accountants Chairman DĂŶĂŐŝŶŐŝƌĞĐƚŽƌΘK &ŝƌŵZĞŐŝƐƚƌĂƟŽŶEŽ͘ϬϬϬϳϱϲE /E͗ϬϬϬϬϭϱϮϯ /E͗ϬϬϬϮϱϵϳϬ

K. K. Tulshan Anand Goel Sushil K Maroo Partner :ŽŝŶƚDĂŶĂŐŝŶŐŝƌĞĐƚŽƌ ĞƉƵƚLJDĂŶĂŐŝŶŐŝƌĞĐƚŽƌ DĞŵďĞƌƐŚŝƉEŽ͘ϴϱϬϯϯ /E͗ϬϬϬϬϭϲϯϱ /E͗ϬϬϬϱϰϭϬϭ WůĂĐĞ͗EĞǁĞůŚŝ K. Rajagopal T. K. Sadhu ĂƚĞĚ͗ϮϱƚŚƉƌŝů͕ϮϬϭϯ 'ƌŽƵƉ&KΘŝƌĞĐƚŽƌ Company Secretary

193 Annual Report 2012-13 ŽŶƐŽůŝĚĂƚĞĚĂƐŚ&ůŽǁ^ƚĂƚĞŵĞŶƚ for the year ended 31st March, 2013

(` in Crore) For the year ended For the year ended WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ A. ^,/E&>KtͬΈKhd&>KtΉ&ZKDKWZd/E'd/s/d/^Ed ϯ͕ϴϯϯ͘ϰϱ ϱ͕ϭϴϴ͘ϲϬ PROFIT BEFORE TAX AND EXTRAORDINARY ITEMS ĚũƵƐƚŵĞŶƚĨŽƌ͗ ĞƉƌĞĐŝĂƟŽŶ ϭ͕ϱϯϵ͘ϮϮ ϭ͕ϯϴϲ͘ϰϳ >ŽƐƐͬĚŝŵŝŶƵƟŽŶĂƌŝƐŝŶŐĨƌŽŵďƵƐŝŶĞƐƐŝŶǀĞƐƚŵĞŶƚ ϱϳϰ͘ϭϮ ϵϯ͘ϲϮ WƌĞŵŝƵŵŽŶ/ŶǀĞƐƚŵĞŶƚǁƌŝƩĞŶŽī - Ϭ͘Ϭϰ >ŽƐƐͬ;WƌŽĮƚͿŽŶ^ĂůĞŽĨ&ŝdžĞĚƐƐĞƚƐ ;ϯ͘ϲϮͿ ;ϱ͘ϳϮͿ >ŽƐƐͬ;WƌŽĮƚͿŽŶ^ĂůĞŽĨ/ŶǀĞƐƚŵĞŶƚƐ ;ϲϴ͘ϱϵͿ ;ϭ͘ϱϳͿ ŝǀŝĚĞŶĚ/ŶĐŽŵĞ ;Ϭ͘ϮϱͿ ;Ϭ͘ϭϯͿ >ŝĂďŝůŝƚLJͬWƌŽǀŝƐŝŽŶƐŶŽůŽŶŐĞƌƌĞƋƵŝƌĞĚǁƌŝƩĞŶďĂĐŬ ;ϭ͘ϭϯͿ ;ϳ͘ϴϵͿ WƌŽǀŝƐŝŽŶĨŽƌĚŝŵƵŶŝƟŽŶŝŶ/ŶǀĞƐƚŵĞŶƚƐǁƌŝƩĞŶďĂĐŬ - ;ϭϭ͘ϱϰͿ WƌŽǀŝƐŝŽŶĨŽƌĚŽƵďƞƵůĚĞďƚƐ - Ϭ͘ϭϬ DŝƐĐĞůůĂŶĞŽƵƐĞdžƉĞŶĚŝƚƵƌĞǁƌŝƩĞŶŽīĚƵƌŝŶŐƚŚĞLJĞĂƌ - ϭ͘ϱϲ ŵƉůŽLJĞĞƐŽŵƉĞŶƐĂƟŽŶdžƉĞŶƐĞƐƵŶĚĞƌŵƉůŽLJĞĞƐ^ƚŽĐŬKƉƟŽŶ^ĐŚĞŵĞ - ;Ϭ͘ϴϯͿ /ŶƚĞƌĞƐƚdžƉĞŶƐĞ ϳϱϴ͘ϭϲ ϯϲϬ͘Ϭϰ KƉĞƌĂƟŶŐWƌŽĮƚďĞĨŽƌĞtŽƌŬŝŶŐĂƉŝƚĂůŚĂŶŐĞƐ ϲ͕ϲϯϭ͘ϯϲ ϳ͕ϬϬϮ͘ϳϱ ĚũƵƐƚŵĞŶƚĨŽƌ͗ Inventories ;ϵϰϰ͘ϲϰͿ ;ϴϬϲ͘ϭϬͿ ^ƵŶĚƌLJĞďƚŽƌƐ ;ϲϰϳ͘ϯϴͿ ;ϭϱϯ͘ϬϱͿ Other Current Assets ;ϵϮϲ͘ϳϰͿ ;ϭ͕ϱϳϴ͘ϮϱͿ /ŶĐŽŵĞdĂdžƉĂŝĚ ;ϳϴϴ͘ϯϱͿ ;ϭ͕ϬϰϮ͘ϭϰͿ KƚŚĞƌƵƌƌĞŶƚ>ŝĂďŝůŝƟĞƐ ϭϵϴ͘Ϭϱ ϰϵϴ͘ϴϴ EĞƚĂƐŚ/ŶŇŽǁͬ;KƵƞůŽǁͿĨƌŽŵKƉĞƌĂƟŶŐĐƟǀŝƟĞƐ ϯ͕ϱϮϮ͘ϯϬ ϯ͕ϵϮϮ͘Ϭϵ B. ^,/E&>KtͬΈKhd&>KtΉ&ZKD/Es^dDEdd/s/d/^ ĂƉŝƚĂůdžƉĞŶĚŝƚƵƌĞ ;ϴ͕ϰϬϭ͘ϮϰͿ ;ϲ͕ϬϲϬ͘ϯϴͿ Sale Proceeds of Fixed Assets ϮϮ͘ϭϲ ϴϭ͘ϱϵ ŝǀŝĚĞŶĚƌĞĐĞŝǀĞĚ Ϭ͘Ϯϱ Ϭ͘ϭϯ /ŶƚĂŶŐŝďůĞĂƐƐĞƚƐhŶĚĞƌĞǀĞůŽƉŵĞŶƚ ;ϵϲϳ͘ϱϱͿ ;ϭϲϭ͘ϬϱͿ Interest Received ϭϬϲ͘ϱϭ ϭϭϰ͘Ϭϰ ;/ŶĐƌĞĂƐĞͿͬĞĐƌĞĂƐĞŝŶ/ŶǀĞƐƚŵĞŶƚƐ ;ϯϲϮ͘ϲϱͿ ;ϳϵ͘ϳϰͿ ^ŚĂƌĞƉƉůŝĐĂƟŽŶDŽŶĞLJŐŝǀĞŶ ϳϰ͘ϰϲ ;ϳϱ͘ϮϲͿ ;/ŶĐƌĞĂƐĞͿͬĞĐƌĞĂƐĞŝŶ'ŽŽĚǁŝůů ;ϲϮ͘ϰϵͿ ϭϬ͘Ϭϭ EĞƚĂƐŚ/ŶŇŽǁͬ;KƵƞůŽǁͿĨƌŽŵ/ŶǀĞƐƟŶŐĐƟǀŝƟĞƐ ;ϵ͕ϱϵϬ͘ϱϱͿ ;ϲ͕ϭϳϬ͘ϲϲͿ

194 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

ŽŶƐŽůŝĚĂƚĞĚĂƐŚ&ůŽǁ^ƚĂƚĞŵĞŶƚ for the year ended 31st March, 2013

(` in Crore) For the year ended For the year ended WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ C. ^,/E&>KtͬΈKhd&>KtΉ&ZKD&/EE/E'd/s/d/^ ^ƚĂƚĞ^ĂůĞƐdĂdž^ƵďƐŝĚLJ ϯϬ͘ϲϯ ϯϴ͘ϵϮ ĂƉŝƚĂůZĞƐĞƌǀĞŽŶĂĐƋƵŝƐŝƟŽŶŽĨ^ƵďƐŝĚŝĂƌLJ Ϯϴϭ͘ϯϱ - /ƐƐƵĞŽĨƋƵŝƚLJ^ŚĂƌĞƐ - ϯ͘ϴϰ Proceeds from Other Borrowings ϵ͕ϯϰϳ͘ϰϮ ϵ͕ϰϭϯ͘ϯϯ Working Capital Borrowings from Banks ϲ͕ϭϬϲ͘ϴϭ Ϯ͕ϭϰϭ͘Ϭϭ ZĞƉĂLJŵĞŶƚͬĚũƵƐƚŵĞŶƚŽĨŽƌƌŽǁŝŶŐƐ ;ϳ͕ϵϮϲ͘ϴϴͿ ;ϴ͕Ϯϰϵ͘ϵϭͿ ŝǀŝĚĞŶĚWĂŝĚ;ŝŶĐůƵĚŝŶŐƚĂdžƚŚĞƌĞŽŶͿ ;ϭϱϲ͘ϵϭͿ ;ϭϵϮ͘ϰϴͿ /ŶƚĞƌĞƐƚĂŶĚĮŶĂŶĐŝĂůĞdžƉĞŶƐĞƐƉĂŝĚ ;ϭ͕ϱϳϭ͘ϮϵͿ ;ϵϭϵ͘ϮϵͿ EĞƚĂƐŚ/ŶŇŽǁͬ;KƵƞůŽǁͿĨƌŽŵ&ŝŶĂŶĐŝŶŐĐƟǀŝƟĞƐ ϲ͕ϭϭϭ͘ϭϯ Ϯ͕Ϯϯϱ͘ϰϮ NET CHANGES IN CASH & CASH EQUIVALENTS (A+B+C) ϰϮ͘ϴϴ (13.15) ĂƐŚΘĂƐŚƋƵŝǀĂůĞŶƚƐ;KƉĞŶŝŶŐĂůĂŶĐĞͿ ϭϯϭ͘ϲϲ 144.81 ĂƐŚΘĂƐŚƋƵŝǀĂůĞŶƚƐ;ůŽƐŝŶŐĂůĂŶĐĞͿ 174.54 ϭϯϭ͘ϲϲ

EŽƚĞ͗ dŚĞĮŐƵƌĞƐŚĂǀĞďĞĞŶƌĞŐƌŽƵƉĞĚͬƌĞĂƌƌĂŶŐĞĚ͕ǁŚĞƌĞǀĞƌŶĞĐĞƐƐĂƌLJ͕ĨŽƌĐŽŵƉĂƌŝƐŽŶƉƵƌƉŽƐĞƐ

In terms of our report of even date For & on behalf of the Board For S. S. Kothari Mehta & Co. Naveen Jindal Ravi Uppal Chartered Accountants Chairman DĂŶĂŐŝŶŐŝƌĞĐƚŽƌΘK &ŝƌŵZĞŐŝƐƚƌĂƟŽŶEŽ͘ϬϬϬϳϱϲE /E͗ϬϬϬϬϭϱϮϯ /E͗ϬϬϬϮϱϵϳϬ

K. K. Tulshan Anand Goel Sushil K Maroo Partner :ŽŝŶƚDĂŶĂŐŝŶŐŝƌĞĐƚŽƌ ĞƉƵƚLJDĂŶĂŐŝŶŐŝƌĞĐƚŽƌ DĞŵďĞƌƐŚŝƉEŽ͘ϴϱϬϯϯ /E͗ϬϬϬϬϭϲϯϱ /E͗ϬϬϬϱϰϭϬϭ WůĂĐĞ͗EĞǁĞůŚŝ K. Rajagopal T. K. Sadhu ĂƚĞĚ͗ϮϱƚŚƉƌŝů͕ϮϬϭϯ 'ƌŽƵƉ&KΘŝƌĞĐƚŽƌ Company Secretary

195 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

1. OVERVIEW ŝŝŝͿ WƌŝŶĐŝƉůĞƐŽĨŽŶƐŽůŝĚĂƟŽŶ Jindal Steel & Power Limited which commenced  dŚĞ ŽŶƐŽůŝĚĂƚĞĚ &ŝŶĂŶĐŝĂů ^ƚĂƚĞŵĞŶƚƐ ƌĞůĂƚĞ ƚŽ ŽƉĞƌĂƟŽŶƐŝŶƚŚĞLJĞĂƌϭϵϵϭŝƐŽŶĞŽĨƚŚĞ/ŶĚŝĂ͛ƐůĞĂĚŝŶŐ Jindal Steel & Power Limited (“the Company”) and its ƐƚĞĞů ƉƌŽĚƵĐĞƌƐ ǁŝƚŚ ƐŝŐŶŝĮĐĂŶƚ ƉƌĞƐĞŶĐĞ ŝŶ ƐĞĐƚŽƌ ůŝŬĞ ƐƵďƐŝĚŝĂƌLJ͕:ŽŝŶƚsĞŶƚƵƌĞĂŶĚƐƐŽĐŝĂƚĞĐŽŵƉĂŶŝĞƐ͘ ŵŝŶŝŶŐ͕ƉŽǁĞƌŐĞŶĞƌĂƟŽŶĂŶĚŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͘/ƚŝƐůŝƐƚĞĚŽŶ dŚĞ ŽŶƐŽůŝĚĂƚĞĚ &ŝŶĂŶĐŝĂů ^ƚĂƚĞŵĞŶƚƐ ŚĂǀĞ ďĞĞŶ ƚŚĞ EĂƟŽŶĂů ^ƚŽĐŬ džĐŚĂŶŐĞ ŽĨ /ŶĚŝĂ ĂŶĚ ŽŵďĂLJ ^ƚŽĐŬ ƉƌĞƉĂƌĞĚŽŶƚŚĞĨŽůůŽǁŝŶŐďĂƐŝƐ͗ džĐŚĂŶŐĞŝŶ/ŶĚŝĂ͘/ƚƐďƵƐŝŶĞƐƐŝƐƐƉƌĞĂĚĂĐƌŽƐƐ/ŶĚŝĂĂŶĚ a) dŚĞ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ŽǀĞƌƐĞĂƐ͘ dŚĞ ĐŽƌƉŽƌĂƚĞ ŽĸĐĞ ŝƐ ƐŝƚƵĂƚĞĚ ŝŶ EĞǁ ĞůŚŝ and its subsidiaries have been consolidated and the manufacturing plants in India are in the states on a line by line basis by adding together ŽĨ ŚŚĂƫƐŐĂƌŚ͕ KĚŝƐŚĂ͕ :ŚĂƌŬŚĂŶĚ ĞƚĐ͘ dŚĞ ŽŵƉĂŶLJ ŬǀĂůƵĞŽĨůŝŬĞŝƚĞŵƐŽĨĂƐƐĞƚƐ͕ůŝĂďŝůŝƟĞƐ͕ has global presence in Australia, Botswana, China, ŝŶĐŽŵĞ ĂŶĚ ĞdžƉĞŶƐĞƐ ĂŌĞƌ ĨƵůůLJ ĞůŝŵŝŶĂƟŶŐ >ŝďĞƌŝĂ͕ DĂƵƌŝƚĂŶŝĂ͕ DŽnjĂŵďŝƋƵĞ͕ DĂĚĂŐĂƐĐĂƌ͕ EĂŵŝďŝĂ͕ ŝŶƚĞƌͲĐŽŵƉĂŶLJƚƌĂŶƐĂĐƟŽŶƐ͕ďĂůĂŶĐĞƐĂŶĚƚŚĞ /ŶĚŽŶĞƐŝĂ͕^ŽƵƚŚĨƌŝĐĂ͕^ƵůƚĂŶĂƚĞŽĨKŵĂŶ͕dĂŶnjĂŶŝĂĂŶĚ ƵŶƌĞĂůŝƐĞĚƉƌŽĮƚŽƌůŽƐƐĞƐŽŶŝŶƚĞƌͲĐŽŵƉĂŶLJ ĂŵďŝĂ͘ dŚĞƌĞ ĂƌĞ ƐĞǀĞƌĂů ďƵƐŝŶĞƐƐ ŝŶŝƟĂƟǀĞƐ ƌƵŶŶŝŶŐ ƚƌĂŶƐĂĐƟŽŶƐĂƐƉĞƌĐĐŽƵŶƟŶŐ^ƚĂŶĚĂƌĚ;^Ͳ ƐŝŵƵůƚĂŶĞŽƵƐůLJĂĐƌŽƐƐĐŽŶƟŶĞŶƚƐ͘ 21) ‘Consolidated Financial Statements’, and are presented to the extent possible, in the Ϯ͘ ^/'E/&/EdKhEd/E'WK>//^ same manner as the Company’s independent ĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ i) ĂƐŝƐŽĨWƌĞƉĂƌĂƟŽŶŽĨ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ  dŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƌĞƉƌĞƉĂƌĞĚ b) In case of foreign subsidiaries, being non- ƵŶĚĞƌ ƚŚĞ ŚŝƐƚŽƌŝĐĂů ĐŽƐƚ ĐŽŶǀĞŶƟŽŶ͕ ŽŶ ŐŽŝŶŐ ŝŶƚĞŐƌĂů ŽƉĞƌĂƟŽŶƐ͕ ƌĞǀĞŶƵĞ ŝƚĞŵƐ ĂƌĞ ĐŽŶĐĞƌŶ ďĂƐŝƐ ĂŶĚ ŝŶ ƚĞƌŵƐ ŽĨ ƚŚĞ ĐĐŽƵŶƟŶŐ consolidated at the average exchange rate ^ƚĂŶĚĂƌĚƐ ŶŽƟĮĞĚ ďLJ ŽŵƉĂŶŝĞƐ ;ĐĐŽƵŶƟŶŐ ƉƌĞǀĂŝůŝŶŐ ĚƵƌŝŶŐ ƚŚĞ LJĞĂƌ͘ ůů ĂƐƐĞƚƐ ĂŶĚ ^ƚĂŶĚĂƌĚͿ ZƵůĞƐ͕ ϮϬϬϲ ŝŶ ĐŽŵƉůŝĂŶĐĞ ǁŝƚŚ ^ĞĐƟŽŶ ůŝĂďŝůŝƟĞƐĂƌĞĐŽŶǀĞƌƚĞĚĂƚƚŚĞĞdžĐŚĂŶŐĞƌĂƚĞƐ Ϯϭϭ;ϯͿŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲ͘dŚĞŽŵƉĂŶLJ prevailing at the end of the year and exchange ĨŽůůŽǁƐ ƚŚĞ ŵĞƌĐĂŶƟůĞ ƐLJƐƚĞŵ ŽĨ ĂĐĐŽƵŶƟŶŐ ĂŶĚ ĚŝīĞƌĞŶĐĞƐĂƌŝƐŝŶŐƚŚĞƌĞŽŶĂƌĞƌĞĐŽŐŶŝƐĞĚŝŶ recognises income and expenditure on accrual ƚŚĞĨŽƌĞŝŐŶĐƵƌƌĞŶĐLJƚƌĂŶƐůĂƟŽŶƌĞƐĞƌǀĞ͘ basis to the extent measurable and where there ĐͿ dŚĞĚŝīĞƌĞŶĐĞďĞƚǁĞĞŶƚŚĞĐŽƐƚŽĨŝŶǀĞƐƚŵĞŶƚ ŝƐ ĐĞƌƚĂŝŶƚLJ ŽĨ ƵůƟŵĂƚĞ ƌĞĂůŝƐĂƟŽŶ ŝŶ ƌĞƐƉĞĐƚ ŽĨ in the subsidiaries and joint ventures and the ŝŶĐŽŵĞƐ͘ĐĐŽƵŶƟŶŐƉŽůŝĐŝĞƐŶŽƚƐƉĞĐŝĮĐĂůůLJƌĞĨĞƌƌĞĚ ŽŵƉĂŶLJ͛ƐƐŚĂƌĞŽĨŶĞƚĂƐƐĞƚƐĂƚƚŚĞƟŵĞŽĨ to otherwise are consistent and in consonance with ĂĐƋƵŝƐŝƟŽŶ ŽĨ ƐŚĂƌĞƐ ŝŶ ƚŚĞ ƐƵďƐŝĚŝĂƌŝĞƐ ĂŶĚ ƚŚĞ ŐĞŶĞƌĂůůLJ ĂĐĐĞƉƚĞĚ ĂĐĐŽƵŶƟŶŐ ƉƌŝŶĐŝƉůĞƐ ŝŶ ũŽŝŶƚ ǀĞŶƚƵƌĞƐ ŝƐ ƌĞĐŽŐŶŝƐĞĚ ŝŶ ƚŚĞ ĮŶĂŶĐŝĂů /ŶĚŝĂ͘dŚĞĂĐĐŽƵŶƟŶŐƉŽůŝĐŝĞƐŚĂǀĞďĞĞŶĐŽŶƐŝƐƚĞŶƚůLJ statements as goodwill or capital reserve as the applied by the Group and are consistent with those ĐĂƐĞŵĂLJďĞ͘ ƵƐĞĚŝŶƉƌĞǀŝŽƵƐLJĞĂƌ͘ d) DŝŶŽƌŝƚLJ /ŶƚĞƌĞƐƚ͛Ɛ ƐŚĂƌĞ ŽĨ ŶĞƚ ƉƌŽĮƚ ŽĨ ii) Use of EƐƟŵĂƚĞƐ consolidated subsidiaries for the year is  dŚĞ ƉƌĞƉĂƌĂƟŽŶ ŽĨ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ ŝŶ ŝĚĞŶƟĮĞĚ ĂŶĚ ĂĚũƵƐƚĞĚ ĂŐĂŝŶƐƚ ƚŚĞ ŝŶĐŽŵĞ of the group in order to arrive at the net ĐŽŶĨŽƌŵŝƚLJ ǁŝƚŚ ŐĞŶĞƌĂůůLJ ĂĐĐĞƉƚĞĚ ĂĐĐŽƵŶƟŶŐ ƉƌŝŶĐŝƉůĞƐƌĞƋƵŝƌĞƐŵĂŶĂŐĞŵĞŶƚƚŽŵĂŬĞĞƐƟŵĂƚĞƐ ŝŶĐŽŵĞ ĂƩƌŝďƵƚĂďůĞ ƚŽ ƚŚĞ ƐŚĂƌĞŚŽůĚĞƌƐ ŽĨ ƚŚĞŽŵƉĂŶLJ͘ ĂŶĚ ĂƐƐƵŵƉƟŽŶƐ ƚŚĂƚ ĂīĞĐƚ ƚŚĞ ƌĞƉŽƌƚĞĚ ĂŵŽƵŶƚ ŽĨĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐĂŶĚĚŝƐĐůŽƐƵƌĞŽĨĐŽŶƟŶŐĞŶƚ e) Minority’s interest in the net assets of the ůŝĂďŝůŝƟĞƐ ĂŶĚ ĐŽŵŵŝƚŵĞŶƚƐ Ăƚ ƚŚĞ ĞŶĚ ŽĨ ƚŚĞ ĐŽŶƐŽůŝĚĂƚĞĚ ƐƵďƐŝĚŝĂƌŝĞƐ ŝƐ ŝĚĞŶƟĮĞĚ ĂŶĚ ƌĞƉŽƌƟŶŐ ƉĞƌŝŽĚ ĂŶĚ ƌĞƐƵůƚƐ ŽĨ ŽƉĞƌĂƟŽŶƐ ĚƵƌŝŶŐ presented in the consolidated balance sheet ƚŚĞƌĞƉŽƌƟŶŐƉĞƌŝŽĚ͘ůƚŚŽƵŐŚƚŚĞƐĞĞƐƟŵĂƚĞƐĂƌĞ ƐĞƉĂƌĂƚĞůLJ ĨƌŽŵ ůŝĂďŝůŝƟĞƐ ĂŶĚ ƚŚĞ ĞƋƵŝƚLJ ŽĨ based upon the management’s best knowledge ƚŚĞŽŵƉĂŶLJ͛ƐƐŚĂƌĞŚŽůĚĞƌƐ͘ ŽĨĐƵƌƌĞŶƚĞǀĞŶƚƐĂŶĚĂĐƟŽŶƐ͕ĂĐƚƵĂůƌĞƐƵůƚƐĐŽƵůĚ f) Minority’s interest in the net assets of ĚŝīĞƌĨƌŽŵƚŚĞƐĞĞƐƟŵĂƚĞƐ͘ŝīĞƌĞŶĐĞďĞƚǁĞĞŶƚŚĞ consolidated subsidiaries consists of the ĂĐƚƵĂů ƌĞƐƵůƚ ĂŶĚ ĞƐƟŵĂƚĞƐ ĂƌĞ ƌĞĐŽŐŶŝƐĞĚ ŝŶ ƚŚĞ ĂŵŽƵŶƚ ŽĨ ĞƋƵŝƚLJ ĂƩƌŝďƵƚĂďůĞ ƚŽ ŵŝŶŽƌŝƟĞƐ ƉĞƌŝŽĚŝŶǁŚŝĐŚƚŚĞƌĞƐƵůƚƐĂƌĞŬŶŽǁŶͬŵĂƚĞƌŝĂůŝƐĞĚ͘ on which investment in a subsidiary is made

196 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

ĂŶĚƚŚĞŵŝŶŽƌŝƟĞƐ͛ƐŚĂƌĞŽĨŵŽǀĞŵĞŶƚƐŝŶƚŚĞ i) Investments other than in subsidiaries, ĞƋƵŝƚLJ ƐŝŶĐĞ ƚŚĞ ĚĂƚĞ ƚŚĞ ƉĂƌĞŶƚ ƐƵďƐŝĚŝĂƌLJ associates and joint ventures have been ƌĞůĂƟŽŶƐŚŝƉĐŽŵĞƐŝŶƚŽĞdžŝƐƚĞŶĐĞ͘ ĂĐĐŽƵŶƚĞĚ ĂƐ ƉĞƌ ĐĐŽƵŶƟŶŐ ^ƚĂŶĚĂƌĚ ;^ͲϭϯͿ͚ĐĐŽƵŶƟŶŐĨŽƌŝŶǀĞƐƚŵĞŶƚƐ͛͘ g) Investment in associate companies have ďĞĞŶĂĐĐŽƵŶƚĞĚĨŽƌ͕ďLJƵƐŝŶŐĞƋƵŝƚLJŵĞƚŚŽĚ j)  ƐĨĂƌĂƐƉŽƐƐŝďůĞ͕ƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂů ǁŚĞƌĞďLJ ŝŶǀĞƐƚŵĞŶƚ ŝƐ ŝŶŝƟĂůůLJ ƌĞĐŽƌĚĞĚ Ăƚ statements are prepared using uniform cost and the carrying amount is adjusted ĂĐĐŽƵŶƟŶŐ ƉŽůŝĐŝĞƐ ĨŽƌ ůŝŬĞ ƚƌĂŶƐĂĐƟŽŶƐ ĂŶĚ ƚŚĞƌĞĂŌĞƌ ĨŽƌ ƉŽƐƚ ĂĐƋƵŝƐŝƟŽŶ ĐŚĂŶŐĞ ŝŶ other events in similar circumstances and the Company’s share of net assets of the are presented in the same manner as the ĂƐƐŽĐŝĂƚĞ͕ŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞĐĐŽƵŶƟŶŐ ŽŵƉĂŶLJ͛ƐƐĞƉĂƌĂƚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ ^ƚĂŶĚĂƌĚ ;^ͲϮϯͿ ͚ĐĐŽƵŶƟŶŐ ĨŽƌ /ŶǀĞƐƚŵĞŶƚ ŬͿ Figures pertaining to the subsidiaries, in Associates in Consolidated Financial associates and joint ventures have been ^ƚĂƚĞŵĞŶƚƐ͛͘ ƌĞͲĐůĂƐƐŝĮĞĚ ǁŚĞƌĞǀĞƌ ŶĞĐĞƐƐĂƌLJ ƚŽ ďƌŝŶŐ h) /ŶƚĞƌĞƐƚƐ ŝŶ :ŽŝŶƚ sĞŶƚƵƌĞƐ ŚĂǀĞ ďĞĞŶ them in line with the parent company’s ĂĐĐŽƵŶƚĞĚ ďLJ ƵƐŝŶŐ ƚŚĞ ƉƌŽƉŽƌƟŽŶĂƚĞ ĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ ĐŽŶƐŽůŝĚĂƟŽŶ ŵĞƚŚŽĚ ĂƐ ƉĞƌ ĐĐŽƵŶƟŶŐ  dŚĞ ůŝƐƚ ŽĨ ƐƵďƐŝĚŝĂƌŝĞƐ͕ ĂƐƐŽĐŝĂƚĞƐ ĂŶĚ ^ƚĂŶĚĂƌĚ ;^ͲϮϳͿ ͚&ŝŶĂŶĐŝĂů ZĞƉŽƌƟŶŐ ŽĨ joint ventures which are included in the /ŶƚĞƌĞƐƚƐŝŶ:ŽŝŶƚsĞŶƚƵƌĞƐ͛͘ ĐŽŶƐŽůŝĚĂƟŽŶ ĂŶĚ ƚŚĞ ŽŵƉĂŶLJ͛Ɛ ŚŽůĚŝŶŐƐ ƚŚĞƌĞŝŶĂƌĞĂƐƵŶĚĞƌ͗

1 dŚĞƐƵďƐŝĚŝĂƌLJĐŽŵƉĂŶŝĞƐĐŽŶƐŝĚĞƌĞĚŝŶƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƌĞ͗

Name of Subsidiary ŽƵŶƚƌLJŽĨ/ŶĐŽƌƉŽƌĂƟŽŶ WƌŽƉŽƌƟŽŶŽĨKǁŶĞƌƐŚŝƉ;йͿĂƐŽŶ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ ƩƵŶůŝ,LJĚƌŽůĞĐƚƌŝĐWŽǁĞƌŽŵƉĂŶLJ>ŝŵŝƚĞĚ India ϳϰ͘ϬϬ ϳϰ͘ϬϬ ŵďŝƟŽƵƐWŽǁĞƌdƌĂĚŝŶŐŽŵƉĂŶLJ>ŝŵŝƚĞĚΎ India ϳϵ͘ϯϰ ϳϵ͘ϯϰ ĞůĚĞŵƉƌĞĞŶĚŝŵĞŶƚŽƐDŝŶĞŝƌŽƐ>ŝŵŝƚĞĚ DŽnjĂŵďŝƋƵĞ ϭϬϬ͘ϬϬ ϭϬϬ͘ϬϬ ŽŶͲdĞƌƌĂDŝŶŝŶŐ;WƚLJͿ>ŝŵŝƚĞĚ South Africa ϭϬϬ͘ϬϬ - /;ĂƌĂĚŽƐͿ,ŽůĚŝŶŐŽƌƉ Barbados ϭϬϬ͘ϬϬ - /;ĂƌďĂĚŽƐͿŶĞƌŐLJŽƌƉ Barbados ϭϬϬ͘ϬϬ - CIC (Barbados) Mining Corp Barbados ϭϬϬ͘ϬϬ - /ŶĞƌŐLJ;ĂŚĂŵĂƐͿ>ŝŵŝƚĞĚ Bahamas ϭϬϬ͘ϬϬ - /dƌĂŶƐĂĨƌŝĐĂ;ĂƌďĂĚŽƐͿŽƌƉ Barbados ϭϬϬ͘ϬϬ - ŽƌĞŵďŝƟŽŶ>ƚĚ Marshall Island ϭϬϬ͘ϬϬ - Core Forte Ltd Marshall Island ϭϬϬ͘ϬϬ - Core Integrity Ltd Marshall Island ϭϬϬ͘ϬϬ - ŽƌĞsŝƐŝŽŶ>ƚĚ Marshall Island ϭϬϬ͘ϬϬ - ĂƐƚĞƌŶ^ŽůŝĚ&ƵĞůƐ;WƚLJͿ>ŝŵŝƚĞĚ South Africa ϭϬϬ͘ϬϬ ϭϬϬ͘ϬϬ ŶĚƵƌŝŶŐKǀĞƌƐĞĂƐ>ŝŵŝƚĞĚ DĂƵƌŝƟƵƐ ϭϬϬ͘ϬϬ ϭϬϬ͘ϬϬ ƚĂůŝŶ,LJĚƌŽůĞĐƚƌŝĐWŽǁĞƌŽŵƉĂŶLJ>ŝŵŝƚĞĚ India ϳϰ͘ϬϬ ϳϰ͘ϬϬ 'ĂƐƚŽ>ŝƋƵŝĚƐ/ŶƚĞƌŶĂƟŽŶĂů^͘͘ Bolivia ϴϳ͘ϱϲ ϴϳ͘ϱϲ ,ĂƌŵŽŶLJKǀĞƌƐĞĂƐ>ŝŵŝƚĞĚ DĂƵƌŝƟƵƐ ϭϬϬ͘ϬϬ ϭϬϬ͘ϬϬ Jin Africa Limited Zambia ϵϬ͘ϬϬ ϵϬ͘ϬϬ :ŝŶĚĂů;s/Ϳ>ƚĚ s/ ϭϬϬ͘ϬϬ - Jindal Africa Investments (Pty) Limited South Africa ϭϬϬ͘ϬϬ ϭϬϬ͘ϬϬ

197 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

Name of Subsidiary ŽƵŶƚƌLJŽĨ/ŶĐŽƌƉŽƌĂƟŽŶ WƌŽƉŽƌƟŽŶŽĨKǁŶĞƌƐŚŝƉ;йͿĂƐŽŶ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ Jindal Africa Liberia Limited Liberia ϭϬϬ͘ϬϬ - Jindal Africa SA Guienea ϭϬϬ͘ϬϬ - :ŝŶĚĂůŽƚƐǁĂŶĂWƚLJ͘>ƚĚ͘ Botswana ϭϬϬ͘ϬϬ - :ŝŶĚĂůƌĂƐŝůDŝŶĞƌĂĐĂŽ^͘͘ Brasil ϭϬϬ͘ϬϬ ϭϬϬ͘ϬϬ :ŝŶĚĂůŶĞƌŐLJ;ŽƚƐǁĂŶĂͿWƚLJ>ŝŵŝƚĞĚ Botswana ϭϬϬ͘ϬϬ - :ŝŶĚĂůŶĞƌŐLJ;^ͿWƚLJ>ŝŵŝƚĞĚ South Africa ϭϬϬ͘ϬϬ - :ŝŶĚĂů,LJĚƌŽWŽǁĞƌ>ŝŵŝƚĞĚ India ϵϴ͘ϴϬ ϵϴ͘ϴϬ :ŝŶĚĂů/ŶĨŽƐŽůƵƟŽŶƐ>ŝŵŝƚĞĚΛ India - ϵϵ͘ϬϬ :ŝŶĚĂů/ŶǀĞƐƟŵĞŶƚŽƐ> DŽnjĂŵďŝƋƵĞ ϭϬϬ͘ϬϬ ϭϬϬ͘ϬϬ :ŝŶĚĂů/ŶǀĞƐƚŵĞŶƚ,ŽůĚŝŶŐƐ>ŝŵŝƚĞĚ DĂƵƌŝƟƵƐ ϭϬϬ͘ϬϬ ϭϬϬ͘ϬϬ Jindal Madagascar SARL Madagascar ϭϬϬ͘ϬϬ ϭϬϬ͘ϬϬ :ŝŶĚĂůDŝŶŝŶŐΘdžƉůŽƌĂƟŽŶ>ŝŵŝƚĞĚ DĂƵƌŝƟƵƐ ϭϬϬ͘ϬϬ ϭϬϬ͘ϬϬ Jindal Mining (Pty) Ltd South Africa ϳϰ͘ϬϬ ϳϰ͘ϬϬ Jindal Mining Industry LLC Mongolia - ϭϬϬ͘ϬϬ Jindal Mining Namibia (Pty) Limited Namibia ϭϬϬ͘ϬϬ - :ŝŶĚĂůWŽǁĞƌŝƐƚƌŝďƵƟŽŶ>ŝŵŝƚĞĚ India ϵϴ͘ϴϬ ϵϴ͘ϴϬ Jindal Power Limited India ϵϲ͘ϰϯ ϵϲ͘ϰϯ Jindal Power LLC Mongolia - ϭϬϬ͘ϬϬ :ŝŶĚĂůWŽǁĞƌdƌĂŶƐŵŝƐƐŝŽŶ>ŝŵŝƚĞĚ India ϵϴ͘ϴϬ ϵϴ͘ϴϬ Jindal Resources (Botswana) Pty Limited Botswana ϭϬϬ͘ϬϬ - Jindal Steel & Power (Australia) Pty Limited Australia ϭϬϬ͘ϬϬ ϭϬϬ͘ϬϬ Jindal Steel & Power (BC) Limited ƌŝƟƐŚŽůƵŵďŝĂ ϭϬϬ͘ϬϬ - :ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌ;DĂƵƌŝƟƵƐͿ>ŝŵŝƚĞĚ DĂƵƌŝƟƵƐ ϭϬϬ͘ϬϬ ϭϬϬ͘ϬϬ Jindal Steel & Power Zimbabwe Limited Zimbabwe ϭϬϬ͘ϬϬ ϭϬϬ͘ϬϬ :ŝŶĚĂů^ƚĞĞůŽůŝǀŝĂ^͘͘ Bolivia ϱϭ͘ϬϬ ϵϵ͘ϵϵ :ŝŶĚĂůdĂŶnjĂŶŝĂ>ŝŵŝƚĞĚ dĂŶnjĂŶŝĂ ϭϬϬ͘ϬϬ ϭϬϬ͘ϬϬ Jindal Zambia Limited Zambia ϵϴ͘ϬϬ ϵϴ͘ϬϬ :^W>DŽnjĂŵďŝƋƵĞDŝŶĞƌĂŝƐ> DŽnjĂŵďŝƋƵĞ ϵϳ͘ϱϬ ϵϳ͘ϱϬ Jubilant Overseas Limited DĂƵƌŝƟƵƐ ϭϬϬ͘ϬϬ ϭϬϬ͘ϬϬ <ĂŵĂůĂ,LJĚƌŽůĞĐƚƌŝĐWŽǁĞƌŽŵƉĂŶLJ India ϳϰ͘ϬϬ ϳϰ͘ϬϬ >ŝŵŝƚĞĚΎΎ DĞĞƉŽŶŐŶĞƌŐLJ;DĂƵƌŝƚƵƐͿ;WƚLJͿ>ŝŵŝƚĞĚ DĂƵƌŝƟƵƐ ϭϬϬ͘ϬϬ - DĞĞƉŽŶŐŶĞƌŐLJ;WƚLJͿ>ŝŵŝƚĞĚ Botswana ϭϬϬ͘ϬϬ - Meepong Resources (Mauritus) (Pty) Limited DĂƵƌŝƟƵƐ ϭϬϬ͘ϬϬ - Meepong Resources (Pty) Limited Botswana ϭϬϬ͘ϬϬ - Meepong Service (Pty) Limited Botswana ϭϬϬ͘ϬϬ - Meepong Water (Pty) Limited Botswana ϭϬϬ͘ϬϬ - Osho Madagascar SARL Madagascar ϵϵ͘ϯϯ ϵϵ͘ϯϯ

198 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

Name of Subsidiary ŽƵŶƚƌLJŽĨ/ŶĐŽƌƉŽƌĂƟŽŶ WƌŽƉŽƌƟŽŶŽĨKǁŶĞƌƐŚŝƉ;йͿĂƐŽŶ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ WĂŶĂĐŽƌĞ/ŶǀĞƐƚŵĞŶƚ>ƚĚ͕DĂƵƌŝƟƵƐ DĂƵƌŝƟƵƐ ϱϬ͘Ϭϭ - Wd,/DŝŶŝŶŐŝŶĚŽŶĞƐŝĂ Indonesia ϵϵ͘ϬϬ - Wd:ŝŶĚĂůKǀĞƌƐĞĂƐ Indonesia ϵϵ͘ϬϬ ϵϵ͘ϬϬ Wd͘DĂƌƵǁĂŝĂƌĂďĂĚŝ Indonesia ϳϱ͘ϬϬ - Wd͘^ƵŵďĞƌ^ƵƌLJĂ'ĞŵŝůĂŶŐ Indonesia ϵϵ͘ϮϬ - ZŽůůŝŶŐ,ŝůůƐZĞƐŽƵƌĐĞƐ>> Mongolia - ϭϬϬ͘ϬϬ ^ĂĚͲůĞĐ;WƚLJͿ>ŝŵŝƚĞĚ South Africa ϭϬϬ͘ϬϬ - ^ŚĂĚĞĞĚ/ƌŽŶΘ^ƚĞĞůŽ͘>> Oman ϵϵ͘ϵϵ ϵϵ͘ϵϵ Skyhigh Overseas Limited DĂƵƌŝƟƵƐ ϭϬϬ͘ϬϬ ϭϬϬ͘ϬϬ dĂďůĞƚůƵĞdƌĂĚĞĂŶĚ/ŶǀĞƐƚ;WƚLJͿ>ŝŵŝƚĞĚ Namibia ϭϬϬ͘ϬϬ - dƌĂŶƐĨƌŝĐĂZĂŝů;WƚLJͿ>ŝŵŝƚĞĚ Botswana ϭϬϬ͘ϬϬ - dƌĂŶƐƐŝĂDŝŶŝŶŐWƚĞ͘>ŝŵŝƚĞĚ Singapore ϭϬϬ͘ϬϬ - dƌĂŶƐƚůĂŶƟĐdƌĂĚŝŶŐ>ŝŵŝƚĞĚ Guernsey ϭϬϬ͘ϬϬ ϭϬϬ͘ϬϬ sŝƐŝŽŶKǀĞƌƐĞĂƐ>ŝŵŝƚĞĚ DĂƵƌŝƟƵƐ ϭϬϬ͘ϬϬ ϭϬϬ͘ϬϬ Worth Overseas Limited DĂƵƌŝƟƵƐ - ϭϬϬ͘ϬϬ

Ϯ͘ dŚĞĂƐƐŽĐŝĂƚĞĐŽŵƉĂŶŝĞƐĐŽŶƐŝĚĞƌĞĚŝŶĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƌĞ͗

EĂŵĞŽĨƐƐŽĐŝĂƚĞ ŽƵŶƚƌLJŽĨ/ŶĐŽƌƉŽƌĂƟŽŶ WƌŽƉŽƌƟŽŶŽĨKǁŶĞƌƐŚŝƉ;йͿĂƐŽŶ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ Angul Sukinda Railway Limited India ϯϮ͘ϭϬ Ϯϱ͘ϬϬ JB FabInfra Private Limited India ϰϵ͘ϬϬ ϰϵ͘ϬϬ 'ƵũĂƌĂƚEZŽŬŝŶŐŽĂů>ŝŵŝƚĞĚ Australia ϯϭ͘ϰϵ - Koleko Resources South Africa ϰϯ͘ϬϬ - Nalwa Steel & Power Limited India ϰϬ͘ϬϬ ϰϬ͘ϬϬ Panacore shiping Pte Ltd , Singapore Singapore ϰϬ͘ϬϬ - Prodisyne (Pty) Ltd South Africa Ϯϱ͘ϬϬ - Sungu Sungu Pty Limited South Africa ϯϯ͘ϬϬ -

ϯ͘ dŚĞũŽŝŶƚǀĞŶƚƵƌĞĐŽŵƉĂŶŝĞƐĐŽŶƐŝĚĞƌĞĚŝŶĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƌĞ͗

Name of Joint Venture ŽƵŶƚƌLJŽĨ/ŶĐŽƌƉŽƌĂƟŽŶ WƌŽƉŽƌƟŽŶŽĨKǁŶĞƌƐŚŝƉ;йͿĂƐŽŶ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ Jindal Synfuels Limited India ϳϬ͘ϬϬ ϳϬ͘ϬϬ Shresht Mining and Metals Private Limited India ϱϬ͘ϬϬ ϱϬ͘ϬϬ Urtan North Mining Company Limited India ϲϲ͘ϲϳ ϲϲ͘ϲϳ

ΛŽŶƚƌŽůĞdžŝƐƚƐŝŶĚŝƌĞĐƚůLJƚŚƌŽƵŐŚƐƵďƐŝĚŝĂƌLJ ΎĂƌůŝĞƌŬŶŽǁŶĂƐ:ŝŶĚĂůWŽǁĞƌdƌĂĚŝŶŐŽŵƉĂŶLJ>ŝŵŝƚĞĚ ΎΎĂƌůŝĞƌŬŶŽǁŶĂƐ^ƵďĂŶƐŝƌŝ,LJĚƌŽůĞĐƚƌŝĐWŽǁĞƌŽ͘>ŝŵŝƚĞĚ

199 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

iv) Other AĐĐŽƵŶƟŶŐPŽůŝĐŝĞƐ ĚĞƉƌĞĐŝĂƟŽŶ ŽŶ ƚŚĞ ƐĂŵĞ ŝƐ ƉƌŽǀŝĚĞĚ ĨŽƌ  dŚĞƐĞ ĂƌĞ ƐĞƚ ŽƵƚ ƵŶĚĞƌ ͞^ŝŐŶŝĮĐĂŶƚ ĐĐŽƵŶƟŶŐ ĂĐĐŽƌĚŝŶŐůLJ͘ WŽůŝĐŝĞƐ͟ ĂƐ ŐŝǀĞŶ ŝŶ ƚŚĞ ƐƚĂŶĚĂůŽŶĞ ĮŶĂŶĐŝĂů In case of Jindal Power Limited, a subsidiary, ƐƚĂƚĞŵĞŶƚƐŽĨ:ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌ>ŝŵŝƚĞĚ͘ ƚĂŶŐŝďůĞ ĂƐƐĞƚƐ ĂƌĞ ĚĞƉƌĞĐŝĂƚĞĚ ŽŶ ǁƌŝƩĞŶ v) &ŝdžĞĚƐƐĞƚƐͲĞƉƌĞĐŝĂƟŽŶĂŶĚŵŽƌƟƐĂƟŽŶ ĚŽǁŶǀĂůƵĞŵĞƚŚŽĚ;tsͿĂƚƚŚĞƌĂƚĞƐĂŶĚ ŝŶƚŚĞŵĂŶŶĞƌƐƉĞĐŝĮĞĚŝŶ^ĐŚĞĚƵůĞy/sƚŽƚŚĞ a) Tangible Assets ŽŵƉĂŶŝĞƐĐƚ͕ϭϵϱϲ͘  dĂŶŐŝďůĞ ƐƐĞƚƐ ĂƌĞ ƐƚĂƚĞĚ Ăƚ ĐŽƐƚ ůĞƐƐ ĂĐĐƵŵƵůĂƚĞĚ ĚĞƉƌĞĐŝĂƟŽŶ ĂŶĚ ŝŵƉĂŝƌŵĞŶƚ In case of foreign subsidiaries, tangible assets ůŽƐƐĞƐ͕ ŝĨ ĂŶLJ͘ ŽƐƚƐ ŝŶĐůƵĚĞ ĐŽƐƚƐ ŽĨ are depreciated on straight-line method ĂĐƋƵŝƐŝƟŽŶƐ Žƌ ĐŽŶƐƚƌƵĐƟŽŶƐ͕ ŝŶĐůƵĚŝŶŐ ;^>DͿďĂƐĞĚƵƉŽŶĞƐƟŵĂƚĞĚƵƐĞĨƵůůŝĨĞŽĨƚŚĞ incidental expenses thereto and other ĂƐƐĞƚƐ͘ dŚĞ ĚĞƉƌĞĐŝĂƟŽŶ ƌĂƚĞƐ ƐŽ ĐŽŵƉƵƚĞĚ ĂƩƌŝďƵƚĂďůĞĐŽƐƚƐŽĨďƌŝŶŐŝŶŐƚŚĞĂƐƐĞƚƚŽŝƚƐ ĚŽŶŽƚƐƵďƐƚĂŶƟĂůůLJĂŶĚŵĂƚĞƌŝĂůůLJĚŝīĞƌĨƌŽŵ ǁŽƌŬŝŶŐĐŽŶĚŝƟŽŶĨŽƌŝƚƐŝŶƚĞŶĚĞĚƵƐĞĂŶĚĂƌĞ ƚŚĞƌĂƚĞƐĂĚŽƉƚĞĚďLJƚŚĞƉĂƌĞŶƚĐŽŵƉĂŶLJ͘ ŶĞƚŽĨĂǀĂŝůĂďůĞĚƵƚLJͬƚĂdžĐƌĞĚŝƚƐ͘  /ŶƚĂŶŐŝďůĞ ƐƐĞƚƐ ĂƌĞ ĂŵŽƌƟƐĞĚ ŽŶ ƐƚƌĂŝŐŚƚͲ b) Intangible Assets ůŝŶĞŵĞƚŚŽĚ;^>DͿŽǀĞƌƚŚĞĞdžƉĞĐƚĞĚĚƵƌĂƟŽŶ Intangible assets are recognised in accordance ŽĨďĞŶĞĮƚƐŶŽƚĞdžĐĞĞĚŝŶŐƚĞŶLJĞĂƌƐ͘ ǁŝƚŚ ƚŚĞ ĐƌŝƚĞƌŝĂ ůĂŝĚ ĚŽǁŶ ŝŶ ĐĐŽƵŶƟŶŐ vi) Impairment of Assets Standard (AS-26), whereas they are separately  dŚĞ ĐĂƌƌLJŝŶŐ ĂŵŽƵŶƚ ŽĨ ĂƐƐĞƚƐ ŝƐ ƌĞǀŝĞǁĞĚ ĨŽƌ ŝĚĞŶƟĮĂďůĞ͕ ŵĞĂƐƵƌĂďůĞ ĂŶĚ ƚŚĞ ŽŵƉĂŶLJ impairment at each balance sheet date wherever ĐŽŶƚƌŽůƐ ƚŚĞ ĨƵƚƵƌĞ ďĞŶĞĮƚƐ ĂƌŝƐŝŶŐ ŽƵƚ ŽĨ events or changes in circumstances indicate that ƚŚĞŵ͘/ŶƚĂŶŐŝďůĞĂƐƐĞƚƐĂƌĞƐƚĂƚĞĚĂƚĐŽƐƚůĞƐƐ ƚŚĞ ĐĂƌƌLJŝŶŐ ĂŵŽƵŶƚ ŵĂLJ ŶŽƚ ďĞ ƌĞĐŽǀĞƌĂďůĞ͘ Ŷ ĂŵŽƌƟƐĂƟŽŶĂŶĚŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ͕ŝĨĂŶLJ͘ impairment loss is recognised for the amount for ĐͿ ĂƉŝƚĂůWŽƌŬͲŝŶͲProgress which the asset’s carrying amount exceeds its recoverable amount being the higher of the assets  džƉĞŶĚŝƚƵƌĞ ƌĞůĂƚĞĚ ƚŽ ĂŶĚ ŝŶĐƵƌƌĞĚ ĚƵƌŝŶŐ ŝŵƉůĞŵĞŶƚĂƟŽŶ ŽĨ ŶĞǁͬĞdžƉĂŶƐŝŽŶͲĐƵŵͲ ŶĞƚƐĞůůŝŶŐƉƌŝĐĞĂŶĚŝƚƐǀĂůƵĞŝŶƵƐĞ͘sĂůƵĞŝŶƵƐĞŝƐ ŵŽĚĞƌŶŝƐĂƟŽŶ ƉƌŽũĞĐƚƐ ŝƐ ŝŶĐůƵĚĞĚ ƵŶĚĞƌ ďĂƐĞĚŽŶƚŚĞƉƌĞƐĞŶƚǀĂůƵĞŽĨƚŚĞĞƐƟŵĂƚĞĚĨƵƚƵƌĞ capital work-in-progress and the same is ĐĂƐŚ ŇŽǁƐ ƌĞůĂƟŶŐ ƚŽ ƚŚĞ ĂƐƐĞƚ͘ &Žƌ ƚŚĞ ƉƵƌƉŽƐĞ of assessing impairment, assets are grouped at ĂůůŽĐĂƚĞĚƚŽƚŚĞƌĞƐƉĞĐƟǀĞƚĂŶŐŝďůĞĂƐƐĞƚƐŽŶ the lowest levels for which there are separately ĐŽŵƉůĞƟŽŶŽĨŝƚƐĐŽŶƐƚƌƵĐƟŽŶͬĞƌĞĐƟŽŶ͘ ŝĚĞŶƟĮĂďůĞĐĂƐŚŇŽǁƐ;ŝ͘Ğ͘ĐĂƐŚŐĞŶĞƌĂƟŶŐƵŶŝƚƐͿ͘ d) Intangible Assets under Development Previously recognised impairment losses are Mines development expenditure incurred reversed where the recoverable amount increases ŝŶƌĞƐƉĞĐƚŽĨŶĞǁŝƌŽŶŽƌĞͬĐŽĂůĂŶĚůŝŬĞǁŝƐĞ ďĞĐĂƵƐĞ ŽĨ ĨĂǀŽƌĂďůĞ ĐŚĂŶŐĞƐ ŝŶ ƚŚĞ ĞƐƟŵĂƚĞƐ mines is shown under ‘Intangible assets used to determine the recoverable amount since ƵŶĚĞƌ ĚĞǀĞůŽƉŵĞŶƚ͛ ĂŶĚ ĂŵŽƌƟƐĞĚ ŽǀĞƌ Ă ƚŚĞ ůĂƐƚ ŝŵƉĂŝƌŵĞŶƚ ǁĂƐ ƌĞĐŽŐŶŝƐĞĚ͘  ƌĞǀĞƌƐĂů ŽĨ ƉĞƌŝŽĚŽĨƚĞŶLJĞĂƌƐƐƚĂƌƟŶŐĨƌŽŵƚŚĞLJĞĂƌŽĨ an asset’s impairment loss is limited to its carrying ĐŽŵŵĞŶĐĞŵĞŶƚŽĨĐŽŵŵĞƌĐŝĂůƉƌŽĚƵĐƟŽŶŽƌ amount that would have been determined (net of ƚŚĞĨƵƚƵƌĞĞdžƉĞĐƚĞĚĞdžƚƌĂĐƟŽŶƉĞƌŝŽĚŽĨƚŚĞ ĚĞƉƌĞĐŝĂƟŽŶ Žƌ ĂŵŽƌƟƐĂƟŽŶͿ ŚĂĚ ŶŽ ŝŵƉĂŝƌŵĞŶƚ ƌĞƐĞƌǀĞƐďĂƐĞĚŽŶĂĐƚƵĂůĞdžƚƌĂĐƟŽŶƟůůĚĂƚĞ͕ ůŽƐƐďĞĞŶƌĞĐŽŐŶŝƐĞĚŝŶƉƌŝŽƌLJĞĂƌƐ͘ ǁŚŝĐŚĞǀĞƌŝƐƐŚŽƌƚĞƌ͘ ǀŝŝͿ ĐĐŽƵŶƟŶŐĨŽƌ>ĞĂƐĞƐ ĞͿ ĞƉƌĞĐŝĂƟŽŶĂŶĚŵŽƌƟƐĂƟŽŶ a) Finance lease, is recognised as an asset and  ĞƉƌĞĐŝĂƟŽŶ ŽŶ ƚĂŶŐŝďůĞ ĂƐƐĞƚƐ ŝƐ ƉƌŽǀŝĚĞĚ a liability to the lessor at fair value at the on straight-line method (SLM) at the rates ŝŶĐĞƉƟŽŶŽĨƚŚĞůĞĂƐĞ͘ ĂŶĚ ŝŶ ƚŚĞ ŵĂŶŶĞƌ ƐƉĞĐŝĮĞĚ ŝŶ ^ĐŚĞĚƵůĞ y/s ƚŽ ƚŚĞ ŽŵƉĂŶŝĞƐ Đƚ͕ ϭϵϱϲ͘ >ĞĂƐĞŚŽůĚ b) dŚĞ ůĞĂƐĞ ƉĂLJŵĞŶƚƐ ƵŶĚĞƌ ŽƉĞƌĂƟŶŐ ůĞĂƐĞ ůĂŶĚ ŝƐ ĂŵŽƌƟƐĞĚ ŽǀĞƌ ƚŚĞ ƉĞƌŝŽĚ ŽĨ ůĞĂƐĞ͘ ĂƐ ƉĞƌ ƌĞƐƉĞĐƟǀĞ ůĞĂƐĞ ĂŐƌĞĞŵĞŶƚƐ ĂƌĞ In the case of assets where impairment loss recognised as expense in the statement of is recognised, the revised carrying amount ƉƌŽĮƚĂŶĚůŽƐƐŽŶĂƐƚƌĂŝŐŚƚůŝŶĞďĂƐŝƐŽǀĞƌƚŚĞ ŝƐĚĞƉƌĞĐŝĂƚĞĚŽǀĞƌƚŚĞƌĞŵĂŝŶŝŶŐĞƐƟŵĂƚĞĚ ůĞĂƐĞƚĞƌŵ͘ ƵƐĞĨƵůůŝĨĞŽĨƚŚĞĂƐƐĞƚ͘ ǀŝŝŝͿ ŽƌƌŽǁŝŶŐŽƐƚ Certain plant and machinery have been  ŽƌƌŽǁŝŶŐĐŽƐƚƌĞůĂƚĞĚƚŽĂƋƵĂůŝĨLJŝŶŐĂƐƐĞƚŝƐǁŽƌŬĞĚ ĐŽŶƐŝĚĞƌĞĚ ĂƐ ĐŽŶƟŶƵŽƵƐ ƉƌŽĐĞƐƐ ƉůĂŶƚ ŽƵƚ ŽŶ ƚŚĞ ďĂƐŝƐ ŽĨ ĂĐƚƵĂů ƵƟůŝƐĂƟŽŶ ŽĨ ĨƵŶĚƐ ŽƵƚ on the basis of technical assessment and ŽĨ ƉƌŽũĞĐƚ ƐƉĞĐŝĮĐ ůŽĂŶƐ ĂŶĚͬŽƌ ŽƚŚĞƌ ďŽƌƌŽǁŝŶŐƐ

200 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

ƚŽƚŚĞĞdžƚĞŶƚŝĚĞŶƟĮĂďůĞǁŝƚŚƚŚĞƋƵĂůŝĨLJŝŶŐĂƐƐĞƚ at lower of weighted average cost or net realisable ĂŶĚŝƐĐĂƉŝƚĂůŝƐĞĚǁŝƚŚƚŚĞĐŽƐƚŽĨƋƵĂůŝĨLJŝŶŐĂƐƐĞƚ͘ ǀĂůƵĞ͘ŽƐƚĨŽƌƚŚŝƐƉƵƌƉŽƐĞŝŶĐůƵĚĞƐĚŝƌĞĐƚĐŽƐƚĂŶĚ Other borrowing costs incurred during the period ĂƉƉƌŽƉƌŝĂƚĞĂĚŵŝŶŝƐƚƌĂƟǀĞĂŶĚŽƚŚĞƌŽǀĞƌŚĞĂĚƐ͘ ĂƌĞĐŚĂƌŐĞĚƚŽƐƚĂƚĞŵĞŶƚŽĨƉƌŽĮƚĂŶĚůŽƐƐ͘  EĞƚ ƌĞĂůŝƐĂďůĞ ǀĂůƵĞ ŝƐ ƚŚĞ ĞƐƟŵĂƚĞĚ ƐĞůůŝŶŐ ƉƌŝĐĞ ŝdžͿ ^ĞŐŵĞŶƚZĞƉŽƌƟŶŐ ŝŶ ƚŚĞ ŽƌĚŝŶĂƌLJ ĐŽƵƌƐĞ ŽĨ ďƵƐŝŶĞƐƐ͕ ůĞƐƐ ĞƐƟŵĂƚĞĚ ĂͿ /ĚĞŶƟĮĐĂƟŽŶŽĨ^ĞŐŵĞŶƚƐ ĐŽƐƚƐŽĨĐŽŵƉůĞƟŽŶĂŶĚĞƐƟŵĂƚĞĚĐŽƐƚƐŶĞĐĞƐƐĂƌLJ ƚŽŵĂŬĞƚŚĞƐĂůĞ͘ Primary Segment  dŚĞ ŽŵƉĂŶLJ͛Ɛ ŽƉĞƌĂƟŶŐ ďƵƐŝŶĞƐƐĞƐ ĂƌĞ xi) Inter-Division Transfers organised and managed separately according Inter-division transfer of goods, as independent to the nature of products manufactured marketable products produced by various divisions and services provided, with each segment ĨŽƌ ĐĂƉƟǀĞ ĐŽŶƐƵŵƉƟŽŶ͕ ŝƐ ĂĐĐŽƵŶƚĞĚ ĨŽƌ Ăƚ ƌĞƉƌĞƐĞŶƟŶŐ Ă ƐƚƌĂƚĞŐŝĐ ďƵƐŝŶĞƐƐ ƵŶŝƚ ƚŚĂƚ ĂƉƉƌŽdžŝŵĂƚĞ ƉƌĞǀĂŝůŝŶŐ ŵĂƌŬĞƚ ƉƌŝĐĞ͘ dŚĞ ƐĂŵĞ ŽīĞƌƐĚŝīĞƌĞŶƚƉƌŽĚƵĐƚƐ͘ is shown as a contra item in the statement of ƉƌŽĮƚ ĂŶĚ ůŽƐƐ͘ ŶLJ ƵŶƌĞĂůŝƐĞĚ ƉƌŽĮƚ ŽŶ ƵŶƐŽůĚͬ Secondary Segment unconsumed stocks is eliminated while valuing  dŚĞ ŐĞŽŐƌĂƉŚŝĐĂů ƐĞŐŵĞŶƚƐ ŚĂǀĞ ďĞĞŶ ƚŚĞŝŶǀĞŶƚŽƌŝĞƐ͘dŚĞǀĂůƵĞŽĨƐƵĐŚŝŶƚĞƌͲĚŝǀŝƐŝŽŶĂů ŝĚĞŶƟĮĞĚ ďĂƐĞĚ ŽŶ ƚŚĞ ůŽĐĂƟŽŶƐ ŽĨ ƚŚĞ ƚƌĂŶƐĨĞƌ ŝƐ ŶĞƩĞĚ Žī ĨƌŽŵ ƐĂůĞƐ ĂŶĚ ŽƉĞƌĂƟŽŶĂů ĐƵƐƚŽŵĞƌƐ͗ǁŝƚŚŝŶ/ŶĚŝĂĂŶĚŽƵƚƐŝĚĞ/ŶĚŝĂ͘ income and expenses under cost of materials b) Inter-Segment Transfers ĐŽŶƐƵŵĞĚĂŶĚŽƚŚĞƌĞdžƉĞŶƐĞƐ͘  dŚĞ ŽŵƉĂŶLJ ĂĐĐŽƵŶƚƐ ĨŽƌ ŝŶƚĞƌͲƐĞŐŵĞŶƚ  /ŶƚĞƌͲĚŝǀŝƐŝŽŶĂů ƚƌĂŶƐĨĞƌͬĐĂƉƟǀĞ ĐŽŶƐƵŵƉƟŽŶ sales and transfers as if the sales or transfers ƌĞůĂƚĞĚƚŽĮdžĞĚĂƐƐĞƚƐŝƐĂƚĐŽƐƚ͘ ǁĞƌĞƚŽƚŚŝƌĚƉĂƌƟĞƐĂƚĐƵƌƌĞŶƚŵĂƌŬĞƚƉƌŝĐĞƐ͘ džŝŝͿ &ŽƌĞŝŐŶƵƌƌĞŶĐLJdƌĂŶƐĂĐƟŽŶƐ ,ŽǁĞǀĞƌ͕ŝŶƚĞƌƐĞŐŵĞŶƚƚƌĂŶƐĨĞƌƐĨŽƌĐĂƉƟǀĞͬ ĐĂƉŝƚĂů ĐŽŶƐƵŵƉƟŽŶ ŝƐ ĂƐ ƉĞƌ ^Ͳϰ ;ŽƐƚ  &ŽƌĞŝŐŶ ĐƵƌƌĞŶĐLJ ƚƌĂŶƐĂĐƟŽŶƐ ĂƌĞ ƌĞĐŽƌĚĞĚ Ăƚ the rate of exchange prevailing at the date of the ĐĐŽƵŶƟŶŐ^ƚĂŶĚĂƌĚͲϰͿ͘ ƚƌĂŶƐĂĐƟŽŶ͘ DŽŶĞƚĂƌLJ ĨŽƌĞŝŐŶ ĐƵƌƌĞŶĐLJ ĂƐƐĞƚƐ ĂŶĚ ĐͿ ůůŽĐĂƟŽŶŽĨCommon Costs ůŝĂďŝůŝƟĞƐ ĂƌĞ ƚƌĂŶƐůĂƚĞĚ Ăƚ ƚŚĞ LJĞĂƌͲĞŶĚ ĞdžĐŚĂŶŐĞ Common allocable costs are allocated to each ƌĂƚĞƐĂŶĚƌĞƐƵůƚĂŶƚŐĂŝŶƐͬůŽƐƐĞƐĂƌĞƌĞĐŽŐŶŝƐĞĚŝŶ ƐĞŐŵĞŶƚŽŶƌĞĂƐŽŶĂďůĞďĂƐŝƐ͘ ƚŚĞƐƚĂƚĞŵĞŶƚŽĨƉƌŽĮƚΘůŽƐƐĨŽƌƚŚĞLJĞĂƌ͕ĞdžĐĞƉƚ ƚŽƚŚĞĞdžƚĞŶƚƚŚĂƚƚŚĞLJƌĞůĂƚĞƚŽ;ĂͿŶĞǁƉƌŽũĞĐƚƐƟůů ĚͿ hŶĂůůŽĐĂƚĞĚItems ƚŚĞĚĂƚĞŽĨĐĂƉŝƚĂůŝƐĂƟŽŶǁŚŝĐŚĂƌĞĐĂƌƌŝĞĚƚŽĐĂƉŝƚĂů  /ƚ ŝŶĐůƵĚĞƐ ŐĞŶĞƌĂů ĂĚŵŝŶŝƐƚƌĂƟǀĞ ĞdžƉĞŶƐĞƐ͕ ǁŽƌŬͲŝŶͲƉƌŽŐƌĞƐƐ ĂŶĚ ƚŚŽƐĞ ƌĞůĂƟŶŐ ƚŽ ƚĂŶŐŝďůĞ ŽƌƉŽƌĂƚĞ ĂŶĚ ŽƚŚĞƌ ŽĸĐĞ ĞdžƉĞŶƐĞƐ ĂŶĚ assets which are adjusted to the carrying cost of the income that arise at the enterprise level and ƌĞƐƉĞĐƟǀĞĂƐƐĞƚƐ͖ĂŶĚ;ďͿĞdžĐŚĂŶŐĞĚŝīĞƌĞŶĐĞĂƌŝƐŝŶŐ relate to enterprise as a whole, and which are on the loans provided to foreign subsidiaries being ŶŽƚĂůůŽĐĂďůĞƚŽĂŶLJďƵƐŝŶĞƐƐƐĞŐŵĞŶƚ͘ ŶŽŶͲŝŶƚĞŐƌĂů ĨŽƌĞŝŐŶ ŽƉĞƌĂƟŽŶƐ ŝƐ ĂĐĐƵŵƵůĂƚĞĚ ŝŶ ĞͿ ^ĞŐŵĞŶƚWŽůŝĐŝĞƐ ĨŽƌĞŝŐŶĐƵƌƌĞŶĐLJƚƌĂŶƐůĂƟŽŶƌĞƐĞƌǀĞ͘  dŚĞ ŽŵƉĂŶLJ ƉƌĞƉĂƌĞƐ ŝƚƐ ƐĞŐŵĞŶƚ In case of forward foreign exchange contracts, ŝŶĨŽƌŵĂƟŽŶŝŶĐŽŶĨŽƌŵŝƚLJǁŝƚŚƚŚĞĂĐĐŽƵŶƟŶŐ ĞdžĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐĂƌĞĚĞĂůƚǁŝƚŚŝŶƚŚĞƐƚĂƚĞŵĞŶƚ ƉŽůŝĐŝĞƐĂĚŽƉƚĞĚĨŽƌƉƌĞƉĂƌŝŶŐĂŶĚƉƌĞƐĞŶƟŶŐ ŽĨƉƌŽĮƚΘůŽƐƐŽǀĞƌƚŚĞůŝĨĞŽĨƚŚĞĐŽŶƚƌĂĐƚĞdžĐĞƉƚ ƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞŽŵƉĂŶLJĂƐĂ ƚŚŽƐĞƌĞůĂƟŶŐƚŽƚĂŶŐŝďůĞĂƐƐĞƚƐŝŶǁŚŝĐŚĐĂƐĞƚŚĞLJ ǁŚŽůĞ͘ ĂƌĞĐĂƉŝƚĂůŝƐĞĚǁŝƚŚƚŚĞĐŽƐƚŽĨƌĞƐƉĞĐƟǀĞƚĂŶŐŝďůĞ džͿ sĂůƵĂƟŽŶŽĨ/ŶǀĞŶƚŽƌŝĞƐ ĂƐƐĞƚƐ͘ EŽŶͲŵŽŶĞƚĂƌLJ ĨŽƌĞŝŐŶ ĐƵƌƌĞŶĐLJ ŝƚĞŵƐ ĂƌĞ ĐĂƌƌŝĞĚĂƚŚŝƐƚŽƌŝĐĂůĐŽƐƚ͘ Raw materials and stores & spares are valued at lower of cost, computed on weighted average basis In case of foreign subsidiaries, with non-integral ŽƌŶĞƚƌĞĂůŝƐĂďůĞǀĂůƵĞ͘ŽƐƚŝŶĐůƵĚĞƐƚŚĞƉƵƌĐŚĂƐĞ ĨŽƌĞŝŐŶŽƉĞƌĂƟŽŶƐ͕ƌĞǀĞŶƵĞŝƚĞŵƐĂƌĞĐŽŶǀĞƌƚĞĚĂƚ ƉƌŝĐĞĂƐǁĞůůĂƐŝŶĐŝĚĞŶƚĂůĞdžƉĞŶƐĞƐ͘^ĐƌĂƉŝƐǀĂůƵĞĚ ƚŚĞĂǀĞƌĂŐĞƌĂƚĞƉƌĞǀĂŝůŝŶŐĚƵƌŝŶŐƚŚĞLJĞĂƌ͘ůůĂƐƐĞƚƐ Ăƚ ĞƐƟŵĂƚĞĚ ƌĞĂůŝƐĂďůĞ ǀĂůƵĞ͘ ,ŽǁĞǀĞƌ ŝŶ ĐĂƐĞ ŽĨ ĂŶĚůŝĂďŝůŝƟĞƐĂƌĞĐŽŶǀĞƌƚĞĚĂƚƚŚĞƌĂƚĞƐƉƌĞǀĂŝůŝŶŐ raw materials, components, stores & spares held ĂƚƚŚĞĞŶĚŽĨƚŚĞLJĞĂƌ͘džĐŚĂŶŐĞĚŝīĞƌĞŶĐĞĂƌŝƐŝŶŐ ĨŽƌƵƐĞŝŶƚŚĞƉƌŽĚƵĐƟŽŶŽĨĮŶŝƐŚĞĚŐŽŽĚƐĂƌĞŶŽƚ on conversion is recognised in Foreign Currency ǁƌŝƩĞŶĚŽǁŶďĞůŽǁĐŽƐƚŝĨƚŚĞĮŶŝƐŚĞĚƉƌŽĚƵĐƚƐĂƌĞ dƌĂŶƐůĂƟŽŶZĞƐĞƌǀĞ͘ ĞdžƉĞĐƚĞĚƚŽďĞƐŽůĚĂƚŽƌĂďŽǀĞĐŽƐƚ͘ xiii) Investments  tŽƌŬͲŝŶͲƉƌŽĐĞƐƐŝƐǀĂůƵĞĚĂƚůŽǁĞƌŽĨĞƐƟŵĂƚĞĚĐŽƐƚ Investments that are readily realisable and intended ŽƌŶĞƚƌĞĂůŝƐĂďůĞǀĂůƵĞĂŶĚĮŶŝƐŚĞĚŐŽŽĚƐĂƌĞǀĂůƵĞĚ ƚŽďĞŚĞůĚĨŽƌŶŽƚŵŽƌĞƚŚĂŶĂLJĞĂƌĂƌĞĐůĂƐƐŝĮĞĚ

201 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

ĂƐ ĐƵƌƌĞŶƚ ŝŶǀĞƐƚŵĞŶƚƐ͘ ůů ŽƚŚĞƌ ŝŶǀĞƐƚŵĞŶƚƐ ĂƌĞ džǀŝŝͿ ŵƉůŽLJĞĞĞŶĞĮƚƐ ĐůĂƐƐŝĮĞĚ ĂƐ ůŽŶŐͲƚĞƌŵ ŝŶǀĞƐƚŵĞŶƚƐ͘ EŽŶͲĐƵƌƌĞŶƚ  džƉĞŶƐĞƐ Θ ůŝĂďŝůŝƟĞƐ ŝŶ ƌĞƐƉĞĐƚ ŽĨ ĞŵƉůŽLJĞĞ ŝŶǀĞƐƚŵĞŶƚƐ ĂƌĞ ĐĂƌƌŝĞĚ Ăƚ ĐŽƐƚ͘ WƌŽǀŝƐŝŽŶ ŝƐ ŵĂĚĞ ďĞŶĞĮƚƐĂƌĞƌĞĐŽƌĚĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚĐĐŽƵŶƟŶŐ ǁŚĞŶ͕ŝŶƚŚĞŽƉŝŶŝŽŶŽĨƚŚĞŵĂŶĂŐĞŵĞŶƚ͕ĚŝŵŝŶƵƟŽŶ ^ƚĂŶĚĂƌĚ;^ͲϭϱͿ͚ŵƉůŽLJĞĞĞŶĞĮƚƐ͛ in the value of investment is other than temporary in ŶĂƚƵƌĞ͘dŚĞƌĞĚƵĐƟŽŶŝŶĐĂƌƌLJŝŶŐĂŵŽƵŶƚŝƐƌĞǀĞƌƐĞĚ a) Provident Fund when there is a rise in value of investments or if the  dŚĞ ŽŵƉĂŶLJ ĐŽŶƚƌŝďƵƚĞƐ ƚŽ 'ŽǀĞƌŶŵĞŶƚ ƌĞĂƐŽŶ ĨŽƌ ƚŚĞ ƌĞĚƵĐƟŽŶ ŶŽ ůŽŶŐĞƌ ĞdžŝƐƚƐ͘ ƵƌƌĞŶƚ administered fund as well as Provident fund investments are carried at the lower of cost or dƌƵƐƚ͘ dŚĞ ŝŶƚĞƌĞƐƚ ƌĂƚĞ ƉĂLJĂďůĞ ďLJ ƚŚĞ ƚƌƵƐƚ ŵĂƌŬĞƚͬĨĂŝƌǀĂůƵĞ͘ ƚŽ ďĞŶĞĮĐŝĂƌŝĞƐ ĞǀĞƌLJ LJĞĂƌ ŝƐ ďĞŝŶŐ ŶŽƟĮĞĚ ďLJ 'ŽǀĞƌŶŵĞŶƚ͘ dŚĞ ŽŵƉĂŶLJ ŵĂŬĞƐ ŐŽŽĚ džŝǀͿ ZĞǀĞŶƵĞZĞĐŽŐŶŝƟŽŶ ĚĞĮĐŝĞŶĐLJ͕ŝĨĂŶLJ͕ŝŶƚŚĞŝŶƚĞƌĞƐƚƌĂƚĞĚĞĐůĂƌĞĚ a) Revenue from sale of goods is recognised on ďLJƚŚĞƚƌƵƐƚǀŝƐͲăͲǀŝƐƐƚĂƚƵƚŽƌLJƌĂƚĞ͘ ƚƌĂŶƐĨĞƌ ŽĨ ƐŝŐŶŝĮĐĂŶƚ ƌŝƐŬƐ ĂŶĚ ƌĞǁĂƌĚƐ ŽĨ ŽǁŶĞƌƐŚŝƉƚŽƚŚĞďƵLJĞƌ͘ b) Gratuity  'ƌĂƚƵŝƚLJŝƐĂƉŽƐƚĞŵƉůŽLJŵĞŶƚďĞŶĞĮƚĂŶĚŝƐ b) 'ƌŽƐƐ ZĞǀĞŶƵĞ ĨƌŽŵ ŽƉĞƌĂƟŽŶƐ ĐŽŵƉƌŝƐĞƐ ŝŶƚŚĞ ŶĂƚƵƌĞ ŽĨ Ă ĚĞĮŶĞĚ ďĞŶĞĮƚ ƉůĂŶ͘dŚĞ ŽĨ ƐĂůĞ ŽĨ ƉƌŽĚƵĐƚƐ ĂŶĚ ŽƚŚĞƌ ŽƉĞƌĂƟŶŐ liability recognised in the Balance Sheet in ŝŶĐŽŵĞǁŚŝĐŚĂůƐŽŝŶĐůƵĚĞƐĞdžƉŽƌƚŝŶĐĞŶƟǀĞƐ respect of gratuity is the present value of ĂŶĚ ĂǀŝĂƟŽŶ ŝŶĐŽŵĞ͘ ͚EĞƚ ZĞǀĞŶƵĞ ĨƌŽŵ ƚŚĞĚĞĮŶĞĚďĞŶĞĮƚͬŽďůŝŐĂƟŽŶĂƚƚŚĞĂůĂŶĐĞ ŽƉĞƌĂƟŽŶƐ͕͛ ŶĞƚ ŽĨ ĞdžĐŝƐĞ ĚƵƚLJ ĂŶĚ /ŶƚĞƌͲ Sheet date less the fair value of plan assets, ĚŝǀŝƐŝŽŶĂůƚƌĂŶƐĨĞƌŝƐĂůƐŽĚŝƐĐůŽƐĞĚƐĞƉĂƌĂƚĞůLJ͘ together with adjustment for unrecognised ĐͿ Sales are inclusive of excise duty but net of ĂĐƚƵĂƌŝĂůŐĂŝŶƐŽƌůŽƐƐĞƐĂŶĚƉĂƐƚƐĞƌǀŝĐĞĐŽƐƚƐ͘ ƌĞƚƵƌŶƐ͕ƌĞďĂƚĞƐ͕sdĂŶĚƐĂůĞƐƚĂdž͘WƌŽĚƵĐƚƐ dŚĞ ĚĞĮŶĞĚ ďĞŶĞĮƚͬŽďůŝŐĂƟŽŶ ŝƐ ĐĂůĐƵůĂƚĞĚ returned are accounted for in the year of at or near the Balance Sheet date by an ƌĞƚƵƌŶ͘ independent Actuary using the projected unit ĐƌĞĚŝƚ ŵĞƚŚŽĚ͘ ĐƚƵĂƌŝĂů ŐĂŝŶƐ Žƌ ůŽƐƐĞƐ ĂƌĞ d) džƉŽƌƚƐĂůĞƐĂƌĞĂĐĐŽƵŶƚĞĚĨŽƌŽŶƚŚĞďĂƐŝƐŽĨ immediately recognised in the statement of ƚŚĞĚĂƚĞŽĨďŝůůŽĨůĂĚŝŶŐͬĂŝƌǁĂLJƐďŝůů͘ ƉƌŽĮƚΘůŽƐƐĂŶĚŶŽƚĚĞĨĞƌƌĞĚ͘ e) džƉŽƌƚ ďĞŶĞĮƚƐ ĂǀĂŝůĂďůĞ ƵŶĚĞƌ ƚŚĞ džƉŽƌƚ A Import policy of the Government of India are ĐͿ ŽŵƉĞŶƐĂƚĞĚ ďƐĞŶĐĞƐ accounted for in the year of export, to the Liability in respect of compensated absences ĞdžƚĞŶƚŵĞĂƐƵƌĂďůĞ͘ due or expected to be availed within one year from the Balance Sheet date is recognised f) /ŶĐŽŵĞ ĨƌŽŵ ĂǀŝĂƟŽŶ ĂŶĚ ŽƚŚĞƌ ƐĞƌǀŝĐĞƐ ŝƐ on the basis of undiscounted value of ĂĐĐŽƵŶƚĞĚ ĨŽƌ Ăƚ ƚŚĞ ƟŵĞ ŽĨ ĐŽŵƉůĞƟŽŶ ŽĨ ĞƐƟŵĂƚĞĚ ĂŵŽƵŶƚ ƌĞƋƵŝƌĞĚ ƚŽ ďĞ ƉĂŝĚ Žƌ ƐĞƌǀŝĐĞĂŶĚďŝůůŝŶŐƚŚĞƌĞŽĨ͘ ĞƐƟŵĂƚĞĚ ǀĂůƵĞ ŽĨ ďĞŶĞĮƚ ĞdžƉĞĐƚĞĚ ƚŽ ďĞ džǀͿ KƚŚĞƌ/ŶĐŽŵĞ ĂǀĂŝůĞĚďLJƚŚĞĞŵƉůŽLJĞĞƐ͘>ŝĂďŝůŝƚLJŝŶƌĞƐƉĞĐƚ of compensated absences becoming due or a) Claims R ĞĐĞŝǀĂďůĞ expected to be availed more than one year  dŚĞƋƵĂŶƚƵŵŽĨĂĐĐƌƵĂůƐŝŶƌĞƐƉĞĐƚŽĨĐůĂŝŵƐ ĂŌĞƌƚŚĞĂůĂŶĐĞ^ŚĞĞƚĚĂƚĞŝƐĞƐƟŵĂƚĞĚŽŶ receivable such as from Railways, Insurance, ƚŚĞďĂƐŝƐŽĨĂŶĂĐƚƵĂƌŝĂůǀĂůƵĂƟŽŶƉĞƌĨŽƌŵĞĚ ůĞĐƚƌŝĐŝƚLJ͕ ƵƐƚŽŵƐ͕ džĐŝƐĞ ĂŶĚ ƚŚĞ ůŝŬĞ ĂƌĞ by an independent Actuary using the accounted for on accrual basis to the extent ƉƌŽũĞĐƚĞĚƵŶŝƚĐƌĞĚŝƚŵĞƚŚŽĚ͘ ƚŚĞƌĞŝƐĐĞƌƚĂŝŶƚLJŽĨƵůƟŵĂƚĞƌĞĂůŝƐĂƟŽŶ͘ d) Other Short Term BĞŶĞĮƚƐ ďͿ /ŶĐŽŵĞĨƌŽŵ/ŶǀĞƐƚŵĞŶƚ  džƉĞŶƐĞ ŝŶ ƌĞƐƉĞĐƚ ŽĨ ŽƚŚĞƌ ƐŚŽƌƚ ƚĞƌŵ Income from Investment is accounted for on ďĞŶĞĮƚƐ ŝƐ ƌĞĐŽŐŶŝƐĞĚ ŽŶ ƚŚĞ ďĂƐŝƐ ŽĨ ƚŚĞ accrual basis when the right to receive income amount paid or payable for the period during ŝƐĞƐƚĂďůŝƐŚĞĚ͘ ǁŚŝĐŚƐĞƌǀŝĐĞƐĂƌĞƌĞŶĚĞƌĞĚďLJƚŚĞĞŵƉůŽLJĞĞ͘ džǀŝͿ džĐŝƐĞƵƚLJ e) Overseas subsidiaries and their step down  džĐŝƐĞƵƚLJůŝĂďŝůŝƚLJŽŶĮŶŝƐŚĞĚŐŽŽĚƐŵĂŶƵĨĂĐƚƵƌĞĚ subsidiaries are recognising employee and lying in the factory is accounted for and the ďĞŶĞĮƚƐŽĨƚŚĞŶĂƚƵƌĞƌĞĨĞƌƌĞĚĂďŽǀĞĂƐƉĞƌ ĐŽƌƌĞƐƉŽŶĚŝŶŐ ĂŵŽƵŶƚ ŝƐ ĐŽŶƐŝĚĞƌĞĚ ĨŽƌ ǀĂůƵĂƟŽŶ applicable local laws of the country in which ƚŚĞƌĞŽĨ͘ ƚŚĞLJŚĂǀĞďĞĞŶŝŶĐŽƌƉŽƌĂƚĞĚͬŽƉĞƌĂƟŶŐ͘

202 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

xviii) ZĞƐĞĂƌĐŚĂŶĚĞǀĞůŽƉŵĞŶƚdžƉĞŶĚŝƚƵƌĞ ŽƵƞůŽǁŽĨƌĞƐŽƵƌĐĞƐĞŵďŽĚLJŝŶŐĞĐŽŶŽŵŝĐďĞŶĞĮƚƐ  ZĞƐĞĂƌĐŚĂŶĚĞǀĞůŽƉŵĞŶƚĞdžƉĞŶĚŝƚƵƌĞŶŽƚĨƵůĮůůŝŶŐ ŝƐƌĞŵŽƚĞ͘ ƚŚĞ ƌĞĐŽŐŶŝƟŽŶ ĐƌŝƚĞƌŝĂ ĂƐ ƐĞƚ ŽƵƚ ŝŶ ĐĐŽƵŶƟŶŐ  WŽƐƐŝďůĞ ŽďůŝŐĂƟŽŶƐ͕ ǁŚŽƐĞ ĞdžŝƐƚĞŶĐĞ ǁŝůů ŽŶůLJ ďĞ Standard (AS-26) ‘ Intangible Assets’ is charged ĐŽŶĮƌŵĞĚďLJƚŚĞŽĐĐƵƌƌĞŶĐĞŽƌŶŽŶͲŽĐĐƵƌƌĞŶĐĞŽĨ ƚŽ ƚŚĞ ƐƚĂƚĞŵĞŶƚ ŽĨ ƉƌŽĮƚ ĂŶĚ ůŽƐƐ ǁŚŝůĞ ĐĂƉŝƚĂů one or more uncertain events, are also disclosed ĞdžƉĞŶĚŝƚƵƌĞŝƐĂĚĚĞĚƚŽƚŚĞĐŽƐƚŽĨĮdžĞĚĂƐƐĞƚƐŝŶ ĂƐ ĐŽŶƟŶŐĞŶƚ ůŝĂďŝůŝƟĞƐ ĂŶĚ ĐŽŵŵŝƚŵĞŶƚƐ ƵŶůĞƐƐ ƚŚĞLJĞĂƌŝŶǁŚŝĐŚŝƚŝƐŝŶĐƵƌƌĞĚ͘ ƚŚĞƉƌŽďĂďŝůŝƚLJŽĨŽƵƞůŽǁŽĨƌĞƐŽƵƌĐĞƐĞŵďŽĚLJŝŶŐ džŝdžͿ dĂdžĞƐŽŶ/ŶĐŽŵĞ ĞĐŽŶŽŵŝĐďĞŶĞĮƚƐŝƐƌĞŵŽƚĞ͘ a) Current Tax  ŽŶƟŶŐĞŶƚ ĂƐƐĞƚƐ ĂƌĞ ŶĞŝƚŚĞƌ ƌĞĐŽŐŶŝƐĞĚ ŶŽƌ I) Indian Companies: ĚŝƐĐůŽƐĞĚŝŶƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ Provision for current tax is made xxi) Earnings Per Share considering various allowances and  dŚĞ ĞĂƌŶŝŶŐƐ ĐŽŶƐŝĚĞƌĞĚ ŝŶ ĂƐĐĞƌƚĂŝŶŝŶŐ ƚŚĞ ďĞŶĞĮƚƐ ĂǀĂŝůĂďůĞ ƚŽ ƚŚĞ ŽŵƉĂŶLJ ŽŵƉĂŶLJ͛Ɛ ĞĂƌŶŝŶŐƐ ƉĞƌ ƐŚĂƌĞ ;W^Ϳ ĐŽŵƉƌŝƐĞ ƵŶĚĞƌƚŚĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚĞ/ŶĐŽŵĞdĂdž ŽĨ ƚŚĞ ŶĞƚ  ƉƌŽĮƚ ĂŌĞƌ ƚĂdž ĂƩƌŝďƵƚĂďůĞ ƚŽ ĞƋƵŝƚLJ Đƚ͕ϭϵϲϭ͘ ƐŚĂƌĞŚŽůĚĞƌƐ͘ dŚĞ ŶƵŵďĞƌ ŽĨ ƐŚĂƌĞƐ ƵƐĞĚ ŝŶ II) Foreign Companies: ĐŽŵƉƵƟŶŐďĂƐŝĐW^ŝƐƚŚĞǁĞŝŐŚƚĞĚĂǀĞƌĂŐĞŶƵŵďĞƌ Foreign subsidiaries and associates of shares outstanding during the period adjusted recognise tax liability in accordance for events of bonus issue post period end, bonus ǁŝƚŚƚŚĞĂƉƉůŝĐĂďůĞůŽĐĂůůĂǁƐ͘ ĞůĞŵĞŶƚƐ ŝŶ ƌŝŐŚƚ ŝƐƐƵĞ ƚŽ ĞdžŝƐƟŶŐ ƐŚĂƌĞŚŽůĚĞƌƐ͕ ƐŚĂƌĞƐƉůŝƚ͕ĂŶĚƌĞǀĞƌƐĞƐŚĂƌĞƐƉůŝƚ;ĐŽŶƐŽůŝĚĂƟŽŶŽĨ b) Deferred Tax ƐŚĂƌĞƐͿ͘dŚĞĚŝůƵƚĞĚW^ŝƐĐĂůĐƵůĂƚĞĚŽŶƚŚĞƐĂŵĞ  /Ŷ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ĐĐŽƵŶƟŶŐ ^ƚĂŶĚĂƌĚ ďĂƐŝƐĂƐďĂƐŝĐW^͕ĂŌĞƌĂĚũƵƐƟŶŐĨŽƌƚŚĞĞīĞĐƚŽĨ ;^ͲϮϮͿ ͚ĐĐŽƵŶƟŶŐ ĨŽƌ dĂdžĞƐ ŽŶ /ŶĐŽŵĞ͕͛ ƉŽƚĞŶƟĂů ĚŝůƵƟǀĞ ĞƋƵŝƚLJ ƐŚĂƌĞƐ ƵŶůĞƐƐ ŝŵƉĂĐƚ ŝƐ ĚĞĨĞƌƌĞĚ ƚĂdžĞƐ ƌĞƐƵůƟŶŐ ĨƌŽŵ ƟŵŝŶŐ ĂŶƟͲĚŝůƵƟǀĞ͘ ĚŝīĞƌĞŶĐĞƐďĞƚǁĞĞŶŬĂŶĚƚĂdžƉƌŽĮƚƐĂƌĞ dždžŝŝͿ &ŝŶĂŶĐŝĂůĞƌŝǀĂƟǀĞƐ ĂĐĐŽƵŶƚĞĚ ĨŽƌ Ăƚ ƚŚĞ ƚĂdž ƌĂƚĞ ƐƵďƐƚĂŶƟǀĞůLJ enacted by the Balance Sheet date to the Forward contracts, other than those entered into ĞdžƚĞŶƚ ƚŚĞ ƟŵŝŶŐ ĚŝīĞƌĞŶĐĞƐ ĂƌĞ ĞdžƉĞĐƚĞĚ to hedge foreign currency risk on unexecuted ƚŽ ďĞ ĐƌLJƐƚĂůůŝƐĞĚ͘ ĞĨĞƌƌĞĚ ƚĂdž ĂƐƐĞƚƐ ĂƌĞ Įƌŵ ĐŽŵŵŝƚŵĞŶƚƐ Žƌ ŚŝŐŚůLJ ƉƌŽďĂďůĞ ĨŽƌĞĐĂƐƚ recognised and reviewed at each Balance ƚƌĂŶƐĂĐƟŽŶƐ͕ ĂƌĞ ƚƌĞĂƚĞĚ ĂƐ ĨŽƌĞŝŐŶ ĐƵƌƌĞŶĐLJ ^ŚĞĞƚĚĂƚĞƚŽƚŚĞĞdžƚĞŶƚƚŚĞƌĞŝƐƌĞĂƐŽŶĂďůĞͬ ƚƌĂŶƐĂĐƟŽŶƐ ĂŶĚ ĂĐĐŽƵŶƚĞĚ ĨŽƌ ĂƐ ƉĞƌ ĐĐŽƵŶƟŶŐ virtual certainty of realising such assets ^ƚĂŶĚĂƌĚ;^ͲϭϭͿ͚dŚĞīĞĐƚƐŽĨŚĂŶŐĞƐŝŶ&ŽƌĞŝŐŶ against future taxable income džĐŚĂŶŐĞ ZĂƚĞƐ͛͘ džĐŚĂŶŐĞ ĚŝīĞƌĞŶĐĞƐ ĂƌŝƐŝŶŐ ŽŶ such contracts are recognised in the period in which ĐͿ DŝŶŝŵƵŵůƚĞƌŶĂƚĞdĂdž ƚŚĞLJĂƌŝƐĞ͘  DŝŶŝŵƵŵ ůƚĞƌŶĂƚĞ dĂdž ;DdͿ ĐƌĞĚŝƚ ŝƐ recognised as an asset only when and to the  ůů ŽƚŚĞƌ ĚĞƌŝǀĂƟǀĞ ĐŽŶƚƌĂĐƚƐ͕ ŝŶĐůƵĚŝŶŐ ĨŽƌǁĂƌĚ extent there is convincing evidence that the ĐŽŶƚƌĂĐƚƐ ĞŶƚĞƌĞĚ ŝŶƚŽ ƚŽ ŚĞĚŐĞ ĨŽƌĞŝŐŶ ĐƵƌƌĞŶĐLJͬ Company will pay normal income tax during ŝŶƚĞƌĞƐƚƌĂƚĞƌŝƐŬŽŶƵŶĞdžĞĐƵƚĞĚĮƌŵĐŽŵŵŝƚŵĞŶƚƐ ĂŶĚ ŚŝŐŚůLJ ƉƌŽďĂďůĞ ĨŽƌĞĐĂƐƚ ƚƌĂŶƐĂĐƟŽŶƐ͕ ĂƌĞ ƚŚĞƐƉĞĐŝĮĞĚƉĞƌŝŽĚ͘ ƌĞĐŽŐŶŝƐĞĚ ŝŶ ƚŚĞ ĮŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ Ăƚ ĨĂŝƌ dždžͿ WƌŽǀŝƐŝŽŶƐ͕CŽŶƟŶŐĞŶƚLŝĂďŝůŝƟĞƐ͕ ǀĂůƵĞ Ăƚ ĞĂĐŚ ƌĞƉŽƌƟŶŐ ĚĂƚĞ͕ ŝŶ ƉƵƌƐƵĂŶĐĞ ŽĨ Commitments and CŽŶƟŶŐĞŶƚAssets ƚŚĞ ĂŶŶŽƵŶĐĞŵĞŶƚ ŽĨ dŚĞ /ŶƐƟƚƵƚĞ ŽĨ ŚĂƌƚĞƌĞĚ  WƌŽǀŝƐŝŽŶƐĂƌĞƌĞĐŽŐŶŝƐĞĚĨŽƌƉƌĞƐĞŶƚŽďůŝŐĂƟŽŶƐŽĨ ĐĐŽƵŶƚĂŶƚƐ ŽĨ /ŶĚŝĂ ;//Ϳ ŽŶ ĐĐŽƵŶƟŶŐ ĨŽƌ ƵŶĐĞƌƚĂŝŶƟŵŝŶŐŽƌĂŵŽƵŶƚĂƌŝƐŝŶŐĂƐĂƌĞƐƵůƚŽĨĂ ĞƌŝǀĂƟǀĞƐ͘ ƉĂƐƚĞǀĞŶƚǁŚĞƌĞĂƌĞůŝĂďůĞĞƐƟŵĂƚĞĐĂŶďĞŵĂĚĞ xxiii) Cash and Cash Equivalents ĂŶĚ ŝƚ ŝƐ ƉƌŽďĂďůĞ ƚŚĂƚ ĂŶ ŽƵƞůŽǁ ŽĨ ƌĞƐŽƵƌĐĞƐ  ĂƐŚ ĂŶĚ ĐĂƐŚ ĞƋƵŝǀĂůĞŶƚƐ ĐŽŶƐŝƐƚ ŽĨ ĐĂƐŚ͕ ďĂŶŬ ĞŵďŽĚLJŝŶŐ ĞĐŽŶŽŵŝĐ ďĞŶĞĮƚƐ ǁŝůů ďĞ ƌĞƋƵŝƌĞĚ ƚŽ ďĂůĂŶĐĞƐ ŝŶ ĐƵƌƌĞŶƚ ĂŶĚ ƐŚŽƌƚͲƚĞƌŵ ŚŝŐŚůLJ ůŝƋƵŝĚ ƐĞƩůĞƚŚĞŽďůŝŐĂƟŽŶ͘tŚĞƌĞŝƚŝƐŶŽƚƉƌŽďĂďůĞƚŚĂƚĂŶ ŝŶǀĞƐƚŵĞŶƚƐƚŚĂƚĂƌĞƌĞĂĚŝůLJĐŽŶǀĞƌƟďůĞƚŽĐĂƐŚǁŝƚŚ ŽƵƞůŽǁŽĨƌĞƐŽƵƌĐĞƐĞŵďŽĚLJŝŶŐĞĐŽŶŽŵŝĐďĞŶĞĮƚƐ ŽƌŝŐŝŶĂů ŵĂƚƵƌŝƟĞƐ ŽĨ ƚŚƌĞĞ ŵŽŶƚŚƐ Žƌ ůĞƐƐ Ăƚ ƚŚĞ ǁŝůůďĞƌĞƋƵŝƌĞĚŽƌƚŚĞĂŵŽƵŶƚĐĂŶŶŽƚďĞĞƐƟŵĂƚĞĚ ƟŵĞŽĨƉƵƌĐŚĂƐĞ͘ ƌĞůŝĂďůLJ͕ƚŚĞŽďůŝŐĂƟŽŶŝƐĚŝƐĐůŽƐĞĚĂƐĂĐŽŶƟŶŐĞŶƚ liability and commitments, unless the probability of

203 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 3. SHARE CAPITAL Authorised Ϯ͕ϬϬ͕ϬϬ͕ϬϬ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϮ͕ϬϬ͕ϬϬ͕ϬϬ͕ϬϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ` 1 each ϮϬϬ͘ϬϬ ϮϬϬ͘ϬϬ ϮϬϬ͘ϬϬ ϮϬϬ͘ϬϬ /ƐƐƵĞĚ͕^ƵďƐĐŝďĞĚĂŶĚ&ƵůůLJWĂŝĚͲƵƉ ϵϯ͕ϰϴ͕ϯϯ͕ϴϭϴ;WƌĞǀŝŽƵƐLJĞĂƌϵϯ͕ϰϴ͕ϯϯ͕ϴϭϴͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ` 1 each ϵϯ͘ϰϴ ϵϯ͘ϰϴ Total Share Capital 93.48 93.48

(a) ZĞĐŽŶĐŝůŝĂƟŽŶŽĨƚŚĞŶƵŵďĞƌŽĨƐŚĂƌĞƐŽƵƚƐƚĂŶĚŝŶŐĂƚƚŚĞďĞŐŝŶŶŝŶŐĂŶĚĂƚƚŚĞĞŶĚŽĨƚŚĞƌĞƉŽƌƟŶŐƉĞƌŝŽĚ͗ WĂƌƟĐƵůĂƌƐ No. of Shares No. of Shares ƋƵŝƚLJ^ŚĂƌĞƐŽƵƚƐƚĂŶĚŝŶŐĂƚƚŚĞďĞŐŝŶŶŝŶŐŽĨƚŚĞLJĞĂƌ ϵϯ͕ϰϴ͕ϯϯ͕ϴϭϴ ϵϯ͕ϰϮ͕ϲϵ͕Ϭϯϭ ĚĚ͗ƋƵŝƚLJ^ŚĂƌĞƐŝƐƐƵĞĚƵŶĚĞƌĞŵƉůŽLJĞĞƐƐƚŽĐŬŽƉƟŽŶƐĐŚĞŵĞ - ϱ͕ϲϰ͕ϳϴϳ ƋƵŝƚLJ^ŚĂƌĞƐŽƵƚƐƚĂŶĚŝŶŐĂƚƚŚĞĐůŽƐĞŽĨƚŚĞLJĞĂƌ ϵϯ͕ϰϴ͕ϯϯ͕ϴϭϴ ϵϯ͕ϰϴ͕ϯϯ͕ϴϭϴ

ďͿ dĞƌŵƐͬƌŝŐŚƚƐĂƩĂĐŚĞĚƚŽĞƋƵŝƚLJƐŚĂƌĞƐ  dŚĞŽŵƉĂŶLJŚĂƐŽŶůLJŽŶĞĐůĂƐƐŽĨĞƋƵŝƚLJƐŚĂƌĞƐŚĂǀŝŶŐƉĂƌǀĂůƵĞŽĨ`ϭƉĞƌƐŚĂƌĞ͘ĂĐŚŚŽůĚĞƌŽĨĞƋƵŝƚLJƐŚĂƌĞŝƐĞŶƟƚůĞĚ ƚŽŽŶĞǀŽƚĞƉĞƌƐŚĂƌĞ͘dŚĞŽŵƉĂŶLJĚĞĐůĂƌĞƐĚŝǀŝĚĞŶĚƐŝŶ/ŶĚŝĂŶƌƵƉĞĞƐ͘dŚĞĚŝǀŝĚĞŶĚƉƌŽƉŽƐĞĚďLJƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐ ŝƐƐƵďũĞĐƚƚŽƚŚĞĂƉƉƌŽǀĂůŽĨƚŚĞ^ŚĂƌĞŚŽůĚĞƌƐŝŶƚŚĞĞŶƐƵŝŶŐŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐ͘  ƵƌŝŶŐƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚϮϬϭϯ͕ƚŚĞĂŵŽƵŶƚŽĨƉĞƌƐŚĂƌĞĚŝǀŝĚĞŶĚƉƌŽƉŽƐĞĚ͕ƐƵďũĞĐƚƚŽĂƉƉƌŽǀĂůŽĨƐŚĂƌĞŚŽůĚĞƌƐ ŝŶĂŶŶƵĂůŐĞŶĞƌĂůŵĞĞƟŶŐ͕ĨŽƌĚŝƐƚƌŝďƵƟŽŶƚŽĞƋƵŝƚLJƐŚĂƌĞŚŽůĚĞƌƐŝƐ`ϭ͘ϲϬ;WƌĞǀŝŽƵƐzĞĂƌ`ϭ͘ϲϬͿ  /ŶƚŚĞĞǀĞŶƚŽĨůŝƋƵŝĚĂƟŽŶŽĨƚŚĞŽŵƉĂŶLJ͕ƚŚĞŚŽůĚĞƌƐŽĨĞƋƵŝƚLJƐŚĂƌĞƐǁŝůůďĞĞŶƟƚůĞĚƚŽƌĞĐĞŝǀĞĂƐƐĞƚƐŽĨƚŚĞŽŵƉĂŶLJ͘ dŚĞĚŝƐƚƌŝďƵƟŽŶǁŝůůďĞŝŶƉƌŽƉŽƌƟŽŶƚŽƚŚĞŶƵŵďĞƌŽĨĞƋƵŝƚLJƐŚĂƌĞƐŚĞůĚďLJƚŚĞƐŚĂƌĞŚŽůĚĞƌƐ͘ ĐͿ ŐŐƌĞŐĂƚĞŶƵŵďĞƌŽĨďŽŶƵƐƐŚĂƌĞƐŝƐƐƵĞĚ͕ƐŚĂƌĞƐŝƐƐƵĞĚĨŽƌĐŽŶƐŝĚĞƌĂƟŽŶŽƚŚĞƌƚŚĂŶĐĂƐŚĂŶĚƐŚĂƌĞƐďŽƵŐŚƚďĂĐŬ ĚƵƌŝŶŐƚŚĞƉĞƌŝŽĚŽĨĮǀĞLJĞĂƌƐŝŵŵĞĚŝĂƚĞůLJƉƌĞĐĞĚŝŶŐƚŚĞƌĞƉŽƌƟŶŐĚĂƚĞ͗     ƵƌŝŶŐĮǀĞLJĞĂƌƐŝŵŵĞĚŝĂƚĞůLJƉƌĞĐĞĞĚŝŶŐϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ͕ƚŚĞŽŵƉĂŶLJŚĂƐŶŽƚĂůůŽƚĞĚĂŶLJĞƋƵŝƚLJƐŚĂƌĞƐĂƐĨƵůůLJƉĂŝĚͲƵƉ ƉƵƌƐƵĂŶƚƚŽĐŽŶƚƌĂĐƚƐĨŽƌĐŽŶƐŝĚĞƌĂƟŽŶŽƚŚĞƌƚŚĂŶĐĂƐŚ͘  ƵƌŝŶŐĮǀĞLJĞĂƌƐŝŵŵĞĚŝĂƚĞůLJƉƌĞĐĞĞĚŝŶŐϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ͕ƚŚĞŽŵƉĂŶLJŚĂƐŶŽƚďŽƵŐŚƚďĂĐŬĂŶLJĞƋƵŝƚLJƐŚĂƌĞƐ͘  ƵƌŝŶŐƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϬ͕ƚŚĞŽŵƉĂŶLJĂůůŽƩĞĚϳϳ͕ϱϲ͕ϱϭ͕ϱϯϬĞƋƵŝƚLJƐŚĂƌĞƐĂƐĨƵůůLJƉĂŝĚďŽŶƵƐƐŚĂƌĞƐďLJ ĐĂƉŝƚĂůŝƐŝŶŐƐĞĐƵƌŝƟĞƐƉƌĞŵŝƵŵƌĞƐĞƌǀĞ͘ /Ŷ ĂĚĚŝƟŽŶ ƚŚĞ ŽŵƉĂŶLJ ŚĂƐ ĂůůŽƩĞĚ ƚŚĞ ĨŽůůŽǁŝŶŐ ĞƋƵŝƚLJ ƐŚĂƌĞƐ ĚƵƌŝŶŐ ƚŚĞ ƉƌĞĐĞĚŝŶŐ ĮǀĞ LJĞĂƌƐ ƵŶĚĞƌ ŝƚƐ ǀĂƌŝŽƵƐ ŵƉůŽLJĞĞƐ^ƚŽĐŬŽƉƟŽŶƐĐŚĞŵĞƐ;EŽƚĞŶŽ͘ͲϯĨďĞůŽǁͿ During the year ended No. of Shares 31st March, 2013 - 31st March, 2012 ϱ͕ϲϰ͕ϳϴϳ 31st March, 2011 ϯϬ͕ϯϰ͕ϵϰϵ 31st March, 2010 ϵ͕Ϯϵ͕ϴϲϵ ϯϭƐƚDĂƌĐŚ͕ϮϬϬϵ ϲ͕ϵϭ͕ϯϰϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϬϴ - Total ϱϮ͕ϮϬ͕ϵϰϴ

204 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

d) ĞƚĂŝůƐŽĨƐŚĂƌĞŚŽůĚĞƌƐŚŽůĚŝŶŐŵŽƌĞƚŚĂŶϱйƐŚĂƌĞƐŝŶƚŚĞŽŵƉĂŶLJ Name of the shareholder ƐĂƚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ƐĂƚϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ No. of Shares йŚŽůĚŝŶŐ No. of Shares йŚŽůĚŝŶŐ Equity Shares of `ϭĞĂĐŚĨƵůůLJƉĂŝĚ Gagan Infraenergy Limited ϲϲ͕ϵϱϰ͕ϬϲϬ ϳ͘ϭϲй ϲϲ͕ϵϱϰ͕ϬϲϬ ϳ͘ϭϲй Opelina Finance and Investment Limited ϳϵ͕ϴϯϴ͕ϵϲϬ ϴ͘ϱϰй ϳϵ͕ϴϯϴ͕ϵϲϬ ϴ͘ϱϰй Sun Investment Limited ϴϲ͕ϵϳϴ͕ϵϰϬ ϵ͘ϯϬй ϴϲ͕ϵϳϴ͕ϵϰϬ ϵ͘ϯϬй

ƐƉĞƌƌĞĐŽƌĚƐŽĨƚŚĞŽŵƉĂŶLJ͕ŝŶĐůƵĚŝŶŐŝƚƐƌĞŐŝƐƚĞƌŽĨƐŚĂƌĞŚŽůĚĞƌƐͬŵĞŵďĞƌƐĂŶĚŽƚŚĞƌĚĞĐůĂƌĂƟŽŶƐƌĞĐĞŝǀĞĚĨƌŽŵƐŚĂƌĞŚŽůĚĞƌƐ ƌĞŐĂƌĚŝŶŐďĞŶĞĮĐŝĂůŝŶƚĞƌĞƐƚ͕ƚŚĞĂďŽǀĞƐŚĂƌĞŚŽůĚŝŶŐƌĞƉƌĞƐĞŶƚƐďŽƚŚůĞŐĂůĂŶĚďĞŶĞĮĐŝĂůŽǁŶĞƌƐŚŝƉƐŽĨƐŚĂƌĞƐ͘

e) Forfeited Shares ƐŚĂƌĞ ;^ĞƌŝĞƐͲϭͿ ǁŚŝĐŚ ǁŽƵůĚ ǀĞƐƚ ĂŌĞƌ Ϯ  WƵƌƐƵĂŶƚ ƚŽ ƚŚĞ ƌĞƐŽůƵƟŽŶ ƉĂƐƐĞĚ Ăƚ ƚŚĞ ĞdžƚƌĂ years from the date of grant to the extent of ŽƌĚŝŶĂƌLJ ŵĞĞƟŶŐ ĚĂƚĞĚ ϰƚŚ ^ĞƉƚĞŵďĞƌ ϮϬϬϵ͕ ƚŚĞ ϱϬй;WĂƌƚϭͿ͕ĂŌĞƌϯLJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞŽĨ ŽŵƉĂŶLJ ƌĞĐůĂƐƐŝĮĞĚ ƚŚĞ ĂƵƚŚŽƌŝƐĞĚ ƐŚĂƌĞ ĐĂƉŝƚĂů ŐƌĂŶƚƚŽƚŚĞĞdžƚĞŶƚŽĨϮϱй;WĂƌƚϮͿĂŶĚĂŌĞƌϰ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ďLJ ĐĂŶĐĞůůĂƟŽŶ ŽĨ ϭ͕ϬϬ͕ϬϬ͕ϬϬϬ years from the date of grant to the extent of Preference Shares of ` 100 each and simultaneous Ϯϱй;WĂƌƚϯͿ͖

ĐƌĞĂƟŽŶ ŽĨ ϭ͕ϬϬ͕ϬϬ͕ϬϬ͕ϬϬϬ ĨƌĞƐŚ ƋƵŝƚLJ ^ŚĂƌĞƐ ŽĨ ďͿ  ϭ͕Ϯϵ͕ϱϱϬ ;KŶĞ ůĂĐ ƚǁĞŶƚLJ ŶŝŶĞ ƚŚŽƵƐĂŶĚ ` 1 each and increased the authorised share capital ĮǀĞ ŚƵŶĚƌĞĚ ĮŌLJͿ ƐƚŽĐŬ ŽƉƟŽŶƐ ŽŶ ϮŶĚ ` to Ϯ͕ϬϬ͕ϬϬ͕ϬϬ͕ϬϬϬ͘ September, 2006 at an exercise price of  ŽŶƐĞƋƵĞŶƚůLJ͕ ƚŚĞ ŽŵƉĂŶLJ ŚĂĚ ĐĂŶĐĞůůĞĚ `ϭ͕ϭϮϭͬͲƉĞƌƐŚĂƌĞ;^ĞƌŝĞƐͲ//ͿǁŚŝĐŚǁŽƵůĚ 20,00,000 preference shares of ` 100 each (`ϱƉĂŝĚ ǀĞƐƚ ĂŌĞƌ Ϯ LJĞĂƌƐ ĨƌŽŵ ƚŚĞ ĚĂƚĞ ŽĨ ŐƌĂŶƚ ƚŽ ƵƉͿǁŚŝĐŚǁĞƌĞĨŽƌĞĨĞŝƚĞĚĞĂƌůŝĞƌ͘hƉŽŶĐĂŶĐĞůůĂƟŽŶ ƚŚĞĞdžƚĞŶƚŽĨϱϬй;WĂƌƚϭͿ͕ĂŌĞƌϯLJĞĂƌƐĨƌŽŵ of such shares, the amount of ` 1,00,00,000 was ƚŚĞĚĂƚĞŽĨŐƌĂŶƚƚŽƚŚĞĞdžƚĞŶƚŽĨϮϱй;WĂƌƚϮͿ ƚƌĂŶƐĨĞƌƌĞĚƚŽ'ĞŶĞƌĂůZĞƐĞƌǀĞ͘ ĂŶĚĂŌĞƌϰLJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞŽĨŐƌĂŶƚƚŽƚŚĞ ĞdžƚĞŶƚŽĨϮϱй;WĂƌƚϯͿ͖ĂŶĚ  f) Shares Reserved for Issue under OƉƟŽŶƐ  dŚĞ ĚĞƚĂŝůƐ ŽĨ ƐŚĂƌĞƐ ƌĞƐĞƌǀĞĚ ĨŽƌ ŝƐƐƵĞ ƵŶĚĞƌ ĐͿ ϭ͕ϯϲ͕ϵϱϬ ;KŶĞ ůĂĐ ƚŚŝƌƚLJ Ɛŝdž ƚŚŽƵƐĂŶĚ ŶŝŶĞ ŵƉůŽLJĞĞƐƚŽĐŬŽƉƟŽŶ;^KWͿƉůĂŶŽĨƚŚĞŽŵƉĂŶLJ ŚƵŶĚƌĞĚ ĮŌLJͿ ƐƚŽĐŬ ŽƉƟŽŶƐ ŽŶ ϮϳƚŚ Ɖƌŝů͕ ` ĂƌĞĂƐƵŶĚĞƌ͗    2007 at an exercise price of  ϭ͕ϴϭϵͬͲ ƉĞƌ ƐŚĂƌĞ ;^ĞƌŝĞƐͲ ///Ϳ ǁŚŝĐŚ ǁŽƵůĚ ǀĞƐƚ ĂŌĞƌ Ϯ  dŚĞŵƉůŽLJĞĞƐ^ƚŽĐŬKƉƟŽŶ^ĐŚĞŵĞͲϮϬϬϱ;^K^Ͳ years from the date of grant to the extent of ϮϬϬϱͿ ǁĂƐ ĂƉƉƌŽǀĞĚ ďLJ ƚŚĞ ƐŚĂƌĞŚŽůĚĞƌƐ ŽĨ ƚŚĞ ϱϬй;WĂƌƚϭͿ͕ĂŌĞƌϯLJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞŽĨ ŽŵƉĂŶLJ ŝŶ ƚŚĞŝƌ ŶŶƵĂů 'ĞŶĞƌĂů DĞĞƟŶŐ ŚĞůĚ ŐƌĂŶƚƚŽƚŚĞĞdžƚĞŶƚŽĨϮϱй;WĂƌƚϮͿĂŶĚĂŌĞƌϰ ŽŶ ϮϱƚŚ :ƵůLJ͕ ϮϬϬϱ ĂŶĚ ĂŵĞŶĚĞĚ ďLJ ƐŚĂƌĞŚŽůĚĞƌƐ years from the date of grant to the extent of ŽŶ ϮϳƚŚ ^ĞƉƚĞŵďĞƌ͕ ϮϬϬϲ͘ hŶĚĞƌ ^K^ͲϮϬϬϱ͕ Ă Ϯϱй;WĂƌƚϯͿ͘ ŵĂdžŝŵƵŵŽĨϭϭ͕ϬϬ͕ϬϬϬ;ůĞǀĞŶůĂĐƐͿĞƋƵŝƚLJƐŚĂƌĞƐ of `ϱͬͲĞĂĐŚĐŽƵůĚďĞŐƌĂŶƚĞĚƚŽƚŚĞĞŵƉůŽLJĞĞƐ  WƵƌƐƵĂŶƚƚŽůĂƵƐĞϱ͘ϯ;ĨͿŽĨ^/;ŵƉůŽLJĞĞƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ĂŶĚ ŝƚƐ ƐƵďƐŝĚŝĂƌLJ ŽŵƉĂŶLJ;ŝĞƐͿ͘ ^ƚŽĐŬ KƉƟŽŶ ^ĐŚĞŵĞ ĂŶĚ ŵƉůŽLJĞĞƐ ^ƚŽĐŬ /ŶͲƉƌŝŶĐŝƉůĞĂƉƉƌŽǀĂůĨƌŽŵEĂƟŽŶĂů^ƚŽĐŬdžĐŚĂŶŐĞ WƵƌĐŚĂƐĞ^ĐŚĞŵĞͿ'ƵŝĚĞůŝŶĞƐ͕ϭϵϵϵĂŶĚƉĂƌĂ ŽĨ/ŶĚŝĂ>ŝŵŝƚĞĚ;E^ͿĂŶĚŽŵďĂLJ^ƚŽĐŬdžĐŚĂŶŐĞ ϭϴ ŽĨ ƚŚĞ ŵƉůŽLJĞĞƐ ^ƚŽĐŬ KƉƟŽŶ ^ĐŚĞŵĞ >ŝŵŝƚĞĚ ;^Ϳ ǁĂƐ ŐŝǀĞŶ ŽŶ ϭƐƚ &ĞďƌƵĂƌLJ͕ ϮϬϬϲ͘  ͲϮϬϬϱ ŽĨ ƚŚĞ ŽŵƉĂŶLJ͕ ƚŚĞ ŽŵƉĞŶƐĂƟŽŶ ŽŵƉĞŶƐĂƟŽŶ ŽŵŵŝƩĞĞ ǁĂƐ ĐŽŶƐƟƚƵƚĞĚ ďLJ ƚŚĞ ŽŵŵŝƩĞĞ ŝƐ ĂƵƚŚŽƌŝƐĞĚ ƚŽ ŵĂŬĞ Ă ĨĂŝƌ ĂŶĚ ŽĂƌĚŽĨŝƌĞĐƚŽƌƐŽĨƚŚĞŽŵƉĂŶLJŝŶƚŚĞŝƌŵĞĞƟŶŐ reasonable adjustment to the number of ŚĞůĚ ŽŶ ϭϮƚŚ DĂLJ͕ ϮϬϬϱ ĨŽƌ ƚŚĞ ĂĚŵŝŶŝƐƚƌĂƟŽŶ ŽĨ ŽƉƟŽŶƐĂŶĚƚŽƚŚĞĞdžĞƌĐŝƐĞƉƌŝĐĞŝŶƌĞƐƉĞĐƚŽĨ ^K^ͲϮϬϬϱ͘ hŶĚĞƌ ^K^ͲϮϬϬϱ͕ ƚŚĞ ŽŵƉĞŶƐĂƟŽŶ ŽƉƟŽŶƐŐƌĂŶƚĞĚƚŽƚŚĞĞŵƉůŽLJĞĞƐƵŶĚĞƌƚŚĞ ŽŵŵŝƩĞĞ ŚĂƐ ŐƌĂŶƚĞĚ ƐƚŽĐŬ ŽƉƟŽŶƐ ĂƐ ^ĐŚĞŵĞŝŶĐĂƐĞŽĨĐŽƌƉŽƌĂƚĞĂĐƟŽŶƐƐƵĐŚĂƐ ĨŽůůŽǁƐ͗Ͳ ƌŝŐŚƚŝƐƐƵĞ͕ďŽŶƵƐŝƐƐƵĞ͕ŵĞƌŐĞƌĞƚĐ͘ ĂͿ ϴ͕ϱϵ͕ϰϬϬ ;ŝŐŚƚ ůĂĐƐ ĮŌLJ ŶŝŶĞ ƚŚŽƵƐĂŶĚ ĨŽƵƌ  KŶ ϮϳƚŚ ĞĐĞŵďĞƌ͕ϮϬϬϳ͕ ƐƵďͲĚŝǀŝƐŝŽŶ ŽĨ ƚŚĞ ĨĂĐĞ ŚƵŶĚƌĞĚͿ ƐƚŽĐŬ ŽƉƟŽŶƐ ŽŶ ϮϲƚŚ EŽǀĞŵďĞƌ͕ ǀĂůƵĞ ŽĨ ĞĂĐŚ ĞƋƵŝƚLJ ƐŚĂƌĞ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ĨƌŽŵ ϮϬϬϱ Ăƚ ĂŶ ĞdžĞƌĐŝƐĞ ƉƌŝĐĞ ŽĨ  ` ϭ͕ϬϭϰͬͲ ƉĞƌ `ϱͬͲƚŽϱĞƋƵŝƚLJƐŚĂƌĞƐŽĨ`ϭͬͲĞĂĐŚǁĂƐĂƉƉƌŽǀĞĚ

205 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

ďLJ ƚŚĞ ƐŚĂƌĞŚŽůĚĞƌƐ ŝŶ ƚŚĞŝƌ 'ĞŶĞƌĂů DĞĞƟŶŐ͘ ƟŵĞƐ ŽŶƐĞƋƵĞŶƚůLJ ŝŶĐƌĞĂƐŝŶŐ ƚŚĞ ŶƵŵďĞƌ dŚĞƌĞĂŌĞƌ͕ ƚŚĞ ŽŵƉĞŶƐĂƟŽŶ ŽŵŵŝƩĞĞ ŚĂƐ͕ ŝŶ ŽĨƵŶĞdžĞƌĐŝƐĞĚŽƉƟŽŶƐĂŶĚŽƉƟŽŶƐLJĞƚƚŽďĞ ŝƚƐ ŵĞĞƟŶŐ ŚĞůĚ ŽŶ ϮϳƚŚ :ĂŶƵĂƌLJ͕ ϮϬϬϴ͕ ŵĂĚĞ ĂŶ ŐƌĂŶƚĞĚĨƌŽŵϰϯ͕ϯϭ͕Ϭϯϰ;&ŽƌƚLJƚŚƌĞĞůĂĐƐƚŚŝƌƚLJ adjustment to the exercise price by reducing it in case ŽŶĞƚŚŽƵƐĂŶĚƚŚŝƌƚLJĨŽƵƌͿƚŽϮ͕ϱϵ͕ϴϲ͕ϮϬϰ;dǁŽ of Series I to `ϮϬϯͬͲ^ĞƌŝĞƐ//ƚŽ`ϮϮϱͬͲĂŶĚ^ĞƌŝĞƐ/// ĐƌŽƌĞ ĮŌLJ ŶŝŶĞ ůĂĐƐ ĞŝŐŚƚLJ Ɛŝdž ƚŚŽƵƐĂŶĚ ƚǁŽ to `ϯϲϰͬͲƉĞƌĞƋƵŝƚLJƐŚĂƌĞŽĨ`ϭͬͲĞĂĐŚĂŶĚƚŽƚŚĞ ŚƵŶĚƌĞĚĨŽƵƌͿ͖   ŶƵŵďĞƌŽĨŽƉƟŽŶƐďLJŝŶĐƌĞĂƐŝŶŐŝƚϱƟŵĞƐƚŚĞŽƌŝŐŝŶĂů ŐƌĂŶƚĐŽŶƐĞƋƵĞŶƚƚŽǁŚŝĐŚƚŚĞŶƵŵďĞƌŽĨŵĂdžŝŵƵŵ ďͿ dŚĞƉƌŝĐĞŽĨƵŶĞdžĞƌĐŝƐĞĚŽƉƟŽŶƐǁĂƐƌĞĚƵĐĞĚ in case of Series I to ` ` ŽƉƟŽŶƐ ƚŚĂƚ ĐŽƵůĚ ďĞ ŝƐƐƵĞĚ ƵŶĚĞƌ ƚŚĞ ŵƉůŽLJĞĞƐ ϯϰͬͲ͕^ĞƌŝĞƐ//ƚŽ ϯϴͬͲ ` ^ƚŽĐŬ KƉƟŽŶ ^ĐŚĞŵĞͲϮϬϬϱ ŝŶĐƌĞĂƐĞĚ ƚŽ ϱϱ͕ϬϬ͕ϬϬϬ and Series III to  ϲϭͬͲ ƉĞƌ ĞƋƵŝƚLJ ƐŚĂƌĞ ŽĨ ` ;&ŝŌLJĮǀĞůĂĐƐͿ΀ŽƌŝŐŝŶĂůůLJϭϭ͕ϬϬ͕ϬϬϬ;ůĞǀĞŶůĂĐƐͿ΁ ϭͬͲĞĂĐŚ͘  dŚĞƌĞĂŌĞƌ͕ƚŚĞĨŽůůŽǁŝŶŐĂůůŽƚŵĞŶƚƐŽĨĞƋƵŝƚLJƐŚĂƌĞƐ  /ŶͲƉƌŝŶĐŝƉůĞ ĂƉƉƌŽǀĂů ĨŽƌ ůŝƐƟŶŐ ŽĨ ĂĚĚŝƟŽŶĂů ǁĞƌĞ ŵĂĚĞ ƵŶĚĞƌ ^K^ͲϮϬϬϱ ŽŶ ƚŚĞ ĞdžĞƌĐŝƐĞ ŽĨ Ϯ͕ϭϲ͕ϱϱ͕ϭϳϬ ;dǁŽ ĐƌŽƌĞ ƐŝdžƚĞĞŶ ůĂĐƐ ĮŌLJ ŽƉƟŽŶƐ͗Ͳ    ĮǀĞ ƚŚŽƵƐĂŶĚ ŽŶĞ ŚƵŶĚƌĞĚ  ƐĞǀĞŶƚLJͿ ĞƋƵŝƚLJ ƐŚĂƌĞƐǁĞƌĞŽďƚĂŝŶĞĚĨƌŽŵE^ĂŶĚ^Ɛ͘ ĂͿϲ͕ϵϭ͕ϯϰϯ;^ŝdžůĂĐƐŶŝŶĞƚLJŽŶĞƚŚŽƵƐĂŶĚƚŚƌĞĞ ŚƵŶĚƌĞĚ ĨŽƌƚLJ ƚŚƌĞĞͿ ĞƋƵŝƚLJ ƐŚĂƌĞƐ ŽĨ ` ϭͬͲ  dŚĞƌĞĂŌĞƌ͕ƚŚĞĨŽůůŽǁŝŶŐĂůůŽƚŵĞŶƚƐŽĨĞƋƵŝƚLJ ĞĂĐŚǁĞƌĞĂůůŽƩĞĚŽŶϭϲƚŚ:ƵŶĞ͕ϮϬϬϴŽŶ ƐŚĂƌĞƐ ǁĞƌĞ ŵĂĚĞ ƵŶĚĞƌ ^K^ͲϮϬϬϱ ŽŶ ĞdžĞƌĐŝƐĞ ŽĨ ŽƉƟŽŶƐ ŐƌĂŶƚĞĚ ƵŶĚĞƌ WĂƌƚ ϭ ŽĨ ĞdžĞƌĐŝƐĞŽĨŽƉƟŽŶƐ͗Ͳ ^ĞƌŝĞƐ/ŽĨ^K^ϮϬϬϱ͖  ϰ͕ϱϮ͕Ϯϰϲ ;&ŽƵƌ ůĂĐƐ ĮŌLJ ƚǁŽ ƚŚŽƵƐĂŶĚ ƚǁŽ ďͿϱϳ͕ϭϯϲ ;&ŝŌLJ ƐĞǀĞŶ ƚŚŽƵƐĂŶĚ ŽŶĞ ŚƵŶĚƌĞĚ ŚƵŶĚƌĞĚĨŽƌƚLJƐŝdžͿĞƋƵŝƚLJƐŚĂƌĞƐŽĨ`ϭͬͲĞĂĐŚ ƚŚŝƌƚLJ ƐŝdžͿ ĞƋƵŝƚLJ ƐŚĂƌĞƐ ŽĨ ` ϭͬͲ ĞĂĐŚ ǁĞƌĞ ǁĞƌĞ ĂůůŽƩĞĚ ŽŶ ϯϬƚŚ  :ĂŶƵĂƌLJ͕ ϮϬϭK ŽŶ ĂůůŽƩĞĚ ŽŶ ϭϯƚŚ Ɖƌŝů͕ ϮϬϬϵ ŽŶ ĞdžĞƌĐŝƐĞ ŽĨ ĞdžĞƌĐŝƐĞ ŽĨ ŽƉƟŽŶƐ ŐƌĂŶƚĞĚ ƵŶĚĞƌ ƉĂƌƚ ϭ ŽĨ ŽƉƟŽŶƐ ŐƌĂŶƚĞĚ ƵŶĚĞƌ WĂƌƚ ϭ ŽĨ ^ĞƌŝĞƐ // ŽĨ ^ĞƌŝĞƐ///ŽĨ^K^ϮϬϬϱ͘ ^K^ϮϬϬϱ͖    Ϯ͕ϱϮ͕ϬϬϲ ;dǁŽ ůĂĐƐ ĮŌLJ ƚǁŽ ƚŚŽƵƐĂŶĚ ƐŝdžͿ ĐͿ   ϰ͕ϮϬ͕ϰϴϳ ;&ŽƵƌ ůĂĐƐ ƚǁĞŶƚLJ ƚŚŽƵƐĂŶĚ ĨŽƵƌ ĞƋƵŝƚLJ ƐŚĂƌĞƐ ŽĨ ` ϭͬͲ ĞĂĐŚ ǁĞƌĞ ĂůůŽƩĞĚ ŚƵŶĚƌĞĚ ĞŝŐŚƚLJ ƐĞǀĞŶͿ ĞƋƵŝƚLJ ƐŚĂƌĞƐ ŽĨ ŽŶ ϭϯƚŚ  Ɖƌŝů͕ ϮϬϭK ŽŶ ĞdžĞƌĐŝƐĞ ŽĨ ŽƉƟŽŶƐ ` ϭͬͲĞĂĐŚǁĞƌĞĂůůŽƩĞĚŽŶϮϭƐƚ:ƵůLJ͕ϮϬϬϵŽŶ ŐƌĂŶƚĞĚ ƵŶĚĞƌ ƉĂƌƚ Ϯ ŽĨ ^ĞƌŝĞƐ // ŽĨ ^K^ ĞdžĞƌĐŝƐĞ ŽĨ ŽƉƟŽŶƐ ŐƌĂŶƚĞĚ ƵŶĚĞƌ WĂƌƚ Ϯ ŽĨ ϮϬϬϱ͘   ^ĞƌŝĞƐ/ŽĨ^K^ϮϬϬϱ͘   Ϯϰ͕ϱϲ͕ϵϮϮ;dǁĞŶƚLJĨŽƵƌůĂĐƐĮŌLJ^ŝdžƚŚŽƵƐĂŶĚ  dŚĞ ƌĞŵĂŝŶŝŶŐ ϰϯ͕ϯϭ͕Ϭϯϰ ;&ŽƌƚLJ ƚŚƌĞĞ ůĂĐƐ ŶŝŶĞ ŚƵŶĚƌĞĚ ƚǁĞŶƚLJ ƚǁŽͿ ĞƋƵŝƚLJ ƐŚĂƌĞƐ ŽĨ ƚŚŝƌƚLJ ŽŶĞ ƚŚŽƵƐĂŶĚ ƚŚŝƌƚLJ ĨŽƵƌͿ ĞƋƵŝƚLJ `ϭͬͲĞĂĐŚǁĞƌĞĂůůŽƩĞĚŽŶϮϯƌĚ:ƵŶĞ͕ϮϬϭϬ shares of ` ϭͬͲ ĞĂĐŚ ǁĞƌĞ ĂǀĂŝůĂďůĞ ĨŽƌ ŽŶĞdžĞƌĐŝƐĞŽĨŽƉƟŽŶƐŐƌĂŶƚĞĚƵŶĚĞƌƉĂƌƚϯŽĨ ĂůůŽƚŵĞŶƚƵŶĚĞƌ^K^ͲϮϬϬϱĂŌĞƌƚŚĞĂďŽǀĞϯ ^ĞƌŝĞƐ/ŽĨ^K^ϮϬϬϱ͘ ĂůůŽƚŵĞŶƚƐ͘  ϯ͕Ϯϲ͕ϬϮϭ ;dŚƌĞĞ ůĂĐƐ ƚǁĞŶƚLJ ^ŝdž ƚŚŽƵƐĂŶĚ  KŶ ϰƚŚ ^ĞƉƚĞŵďĞƌ͕ϮϬϬϵ͕ ŝƐƐƵĞ ŽĨ ϱ ĞƋƵŝƚLJ ƐŚĂƌĞƐ ƚǁĞŶƚLJŽŶĞͿĞƋƵŝƚLJƐŚĂƌĞƐŽĨ`ϭͬͲĞĂĐŚǁĞƌĞ of ` ϭͬͲ ĞĂĐŚ ĂƐ ďŽŶƵƐ ƐŚĂƌĞƐ ŽŶ ĞĂĐŚ ĞdžŝƐƟŶŐ ĂůůŽƩĞĚŽŶϬϭƐƚ&ĞďƌƵĂƌLJ͕ϮϬϭϭŽŶĞdžĞƌĐŝƐĞ ĞƋƵŝƚLJƐŚĂƌĞŽĨƚŚĞŽŵƉĂŶLJǁĂƐĂƉƉƌŽǀĞĚďLJƚŚĞ ŽĨŽƉƟŽŶƐŐƌĂŶƚĞĚƵŶĚĞƌƉĂƌƚϮŽĨ^ĞƌŝĞƐ///ŽĨ ƐŚĂƌĞŚŽůĚĞƌƐŝŶƚŚĞŝƌ'ĞŶĞƌĂůDĞĞƟŶŐĂŶĚŽŶϭϵƚŚ ^K^ϮϬϬϱ͘  ^ĞƉƚĞŵďĞƌ͕ϮϬϬϵ͕ĨƵůůLJƉĂŝĚͲƵƉďŽŶƵƐƐŚĂƌĞƐǁĞƌĞ ĂůůŽƩĞĚ͘     Ϯ͕ϰϬ͕ϱϲϰ ;dǁŽ ůĂĐƐ ĨŽƌƚLJ ƚŚŽƵƐĂŶĚ ĮǀĞ `  dŚĞƌĞĂŌĞƌ͕ ƉƵƌƐƵĂŶƚ ƚŽ ĐůĂƵƐĞ ϱ͘ϯ ;ĨͿ ŽĨ ^/ ŚƵŶĚƌĞĚƐŝdžƚLJĨŽƵƌͿĞƋƵŝƚLJƐŚĂƌĞƐŽĨ ϭͬͲĞĂĐŚ ;ŵƉůŽLJĞĞƐ ^ƚŽĐŬ KƉƟŽŶ ^ĐŚĞŵĞ ĂŶĚ ŵƉůŽLJĞĞƐ ǁĞƌĞĂůůŽƩĞĚŽŶϭϰƚŚƉƌŝů͕ϮϬϭϭŽŶĞdžĞƌĐŝƐĞ ^ƚŽĐŬWƵƌĐŚĂƐĞ^ĐŚĞŵĞͿ'ƵŝĚĞůŝŶĞƐ͕ϭϵϵϵĂŶĚƉĂƌĂ ŽĨŽƉƟŽŶƐŐƌĂŶƚĞĚƵŶĚĞƌƉĂƌƚϯŽĨ^ĞƌŝĞƐ//ŽĨ ϭϴŽĨƚŚĞŵƉůŽLJĞĞƐ^ƚŽĐŬKƉƟŽŶ^ĐŚĞŵĞͲϮϬϬϱŽĨ ^K^ϮϬϬϱ͘ ƚŚĞŽŵƉĂŶLJ͕ƚŚĞŽŵƉĞŶƐĂƟŽŶŽŵŵŝƩĞĞŚĂƐ͕ŝŶ  ϯ͕Ϯϰ͕ϮϮϯ;dŚƌĞĞůĂĐƐƚǁĞŶƚLJĨŽƵƌƚŚŽƵƐĂŶĚƚǁŽ ŝƚƐ ŵĞĞƟŶŐ ŚĞůĚ ŽŶ ϯϭƐƚ KĐƚŽďĞƌ͕ϮϬϬϵ ŵĂĚĞ ƚŚĞ ŚƵŶĚƌĞĚ ƚǁĞŶƚLJ ƚŚƌĞĞͿ ĞƋƵŝƚLJ ƐŚĂƌĞƐ ŽĨ ` ϭͬͲ ĨŽůůŽǁŝŶŐĂĚũƵƐƚŵĞŶƚƐ͗Ͳ   ĞĂĐŚ ǁĞƌĞ ĂůůŽƩĞĚ ŽŶ ϭϮƚŚ  ĞĐĞŵďĞƌ͕ ϮϬϭϭ ĂͿ dŚĞ ŶƵŵďĞƌ ŽĨ ƵŶĞdžĞƌĐŝƐĞĚ ŽƉƟŽŶƐ ĂŶĚ ŽŶĞdžĞƌĐŝƐĞŽĨŽƉƟŽŶƐŐƌĂŶƚĞĚƵŶĚĞƌƉĂƌƚϯŽĨ ŽƉƟŽŶƐ LJĞƚ ƚŽ ďĞ ŐƌĂŶƚĞĚ ŝƐ ŝŶĐƌĞĂƐĞĚ ďLJ ϱ ^ĞƌŝĞƐ///ŽĨ^K^ϮϬϬϱ͘

206 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

dŚĞĞƚĂŝůƐŽĨ^K^ͲϮϬϬϱĂƌĞĂƐƵŶĚĞƌ͗ WĂƌƟĐƵůĂƌƐ ^K^ͲϮϬϬϱ Series-I Series-II Series-III 1 Grant Price – Rupees ϯϰ ϯϴ 61 2 'ƌĂŶƚĂƚĞ ϮϲƚŚEŽǀĞŵďĞƌ͕ϮϬϬϱ 2nd September, 2006 27th April, 2007 3 sĞƐƟŶŐĐŽŵŵĞŶĐĞƐŽŶ 26th November, 2007 ϮŶĚ^ĞƉƚĞŵďĞƌ͕ϮϬϬϴ ϮϳƚŚƉƌŝů͕ϮϬϬϵ ϰ sĞƐƟŶŐ^ĐŚĞĚƵůĞ ϱϬйŽĨŐƌĂŶƚŽŶϮϲƚŚ ϱϬйŽĨŐƌĂŶƚŽŶϮŶĚ ϱϬйŽĨŐƌĂŶƚŽŶϮϳƚŚ November, 2007, ^ĞƉƚĞŵďĞƌ͕ϮϬϬϴ͕ Ɖƌŝů͕ϮϬϬϵ͕ƐƵďƐĞƋƵĞŶƚ ƐƵďƐĞƋƵĞŶƚϮϱйŽĨŐƌĂŶƚ ƐƵďƐĞƋƵĞŶƚϮϱйŽĨ ϮϱйŽĨŐƌĂŶƚŽŶϮϳƚŚ ŽŶϮϲƚŚEŽǀĞŵďĞƌ͕ϮϬϬϴ ŐƌĂŶƚŽŶϬϮ͘Ϭϵ͘ϮϬϬϵĂŶĚ April, 2010 and balance ĂŶĚďĂůĂŶĐĞϮϱйŽĨŐƌĂŶƚ ďĂůĂŶĐĞϮϱйŽĨŐƌĂŶƚŽŶ ϮϱйŽĨŐƌĂŶƚŽŶϮϳƚŚ ŽŶϮϲƚŚEŽǀĞŵďĞƌ͕ϮϬϬϵ 2nd September, 2010 April, 2011 ϱ KƉƟŽŶŐƌĂŶƚĞĚĂŶĚŽƵƚƐƚĂŶĚŝŶŐĂƚ - - - the beginning of the year 6 KƉƟŽŶŐƌĂŶƚĞĚĚƵƌŝŶŐƚŚĞLJĞĂƌ - - - (due to bonus shares) 7 KƉƟŽŶůĂƉƐĞĚĂŶĚͬŽƌǁŝƚŚĚƌĂǁŶ -- - during the period ϴ KƉƟŽŶĞdžĞƌĐŝƐĞĚĚƵƌŝŶŐƚŚĞLJĞĂƌ - - - ĂŐĂŝŶƐƚǁŚŝĐŚƐŚĂƌĞƐǁĞƌĞĂůůŽƩĞĚ ϵ KƉƟŽŶŐƌĂŶƚĞĚĂŶĚŽƵƚƐƚĂŶĚŝŶŐĂƚ --- the end of the year of which ͲKƉƟŽŶƐǀĞƐƚĞĚ ͲKƉƟŽŶƐLJĞƚƚŽǀĞƐƚ

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 4. RESERVES AND SURPLUS a) Sales Tax Subsidy/Capital Reserve ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ ϯϯϴ͘Ϭϳ Ϯϵϵ͘ϭϱ ĚĚ͗ƵƌŝŶŐƚŚĞLJĞĂƌ ϯϬ͘ϲϯ ϯϴ͘ϵϮ Closing Balance ϯϲϴ͘ϳϬ ϯϯϴ͘Ϭϳ KŶĞŽĨƚŚĞŽŵƉĂŶLJ͛ƐĞdžƉĂŶƐŝŽŶƵŶŝƚƐĂƚZĂŝŐĂƌŚ;ŚŚĂƫƐŐĂƌŚͿŝƐĞůŝŐŝďůĞĨŽƌƐĂůĞƐƚĂdžĞdžĞŵƉƟŽŶŽǁŝŶŐƚŽŝƚƐŝŶǀĞƐƚŵĞŶƚ ŝŶĐĂƉŝƚĂůĂƐƐĞƚƐƵŶĚĞƌƚŚĞ^ƚĂƚĞŝŶĚƵƐƚƌŝĂůƉŽůŝĐLJǁŚŝĐŚĂŝŵƐƚŽǁĂƌĚƐƚŚĞŽďũĞĐƟǀĞŽĨŝŶĚƵƐƚƌŝĂůŝƐĂƟŽŶŽĨƚŚĞ^ƚĂƚĞĂŶĚ ĚĞǀĞůŽƉŵĞŶƚŽĨďĂĐŬǁĂƌĚĂƌĞĂƐ͘dŚĞƉĞƌŝŽĚŽĨĞdžĞŵƉƟŽŶŝƐůŝŶŬĞĚƚŽƚŚĞƋƵĂŶƚƵŵŽĨŝŶǀĞƐƚŵĞŶƚ͘dŚĞŽŵƉĂŶLJŚĂƐďĞĞŶ advised that the element of sales tax included in the sales price of products sold out of this Unit is in the nature of sales tax ƐƵďƐŝĚLJŐƌĂŶƚĞĚďLJƚŚĞ^ƚĂƚĞ'ŽǀĞƌŶŵĞŶƚ͘ĐĐŽƌĚŝŶŐůLJ͕ƚŚĞƐĂŵĞĂŵŽƵŶƟŶŐƚŽ`ϯϬ͘ϲϯĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϯϴ͘ϵϮĐƌŽƌĞͿ ŚĂƐďĞĞŶĐƌĞĚŝƚĞĚĚƵƌŝŶŐƚŚĞLJĞĂƌƚŽ^ĂůĞƐdĂdž^ƵďƐŝĚLJZĞƐĞƌǀĞĐĐŽƵŶƚ͘dŚĞĐƵŵƵůĂƟǀĞĂŵŽƵŶƚĐƌĞĚŝƚĞĚƚŽ^ĂůĞƐdĂdž^ƵďƐŝĚLJ Reserve account up to 31st March, 2013 is `Ϯϲϲ͘ϳϰĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`Ϯϯϲ͘ϭϭĐƌŽƌĞͿ͘ b) ĂƉŝƚĂůZĞĚĞŵƉƟŽŶZĞƐĞƌǀĞ ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ ϳϬ͘ϬϬ ϳϬ͘ϬϬ ĚĚ͗ƵƌŝŶŐƚŚĞLJĞĂƌ - - Closing Balance ϳϬ͘ϬϬ ϳϬ͘ϬϬ

207 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 4. Z^Zs^E^hZW>h^ΈKEd͘Ή ĐͿ ^ĞĐƵƌŝƟĞƐWƌĞŵŝƵŵZĞƐĞƌǀĞ ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ ϭϮϳ͘ϮϮ ϭϮϯ͘ϰϯ ĚĚ͗ĚĚŝƟŽŶƐĚƵƌŝŶŐƚŚĞLJĞĂƌŽŶĂĐĐŽƵŶƚŽĨŵƉůŽLJĞĞƐ͛ƐƚŽĐŬŽƉƟŽŶ - Ϯ͘ϴϯ schemes ĚĚ͗dƌĂŶƐĨĞƌƌĞĚĨƌŽŵ^ƚŽĐŬŽƉƟŽŶƐKƵƚƐƚĂŶĚŝŶŐĂĐĐŽƵŶƚ - Ϭ͘ϵϲ Closing Balance ϭϮϳ͘ϮϮ ϭϮϳ͘ϮϮ EŽƚĞŶŽ͘Ͳϯ;ĨͿ d) ĞďĞŶƚƵƌĞZĞĚĞŵƉƟŽŶZĞƐĞƌǀĞ ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ ϱϬϰ͘ϬϬ ϭϱϭ͘ϬϬ ĚĚ͗dƌĂŶƐĨĞƌƌĞĚĨƌŽŵƐƵƌƉůƵƐŝŶ^ƚĂƚĞŵĞŶƚŽĨWƌŽĮƚĂŶĚ>ŽƐƐ ϭϮϳ͘ϬϬ ϯϱϯ͘ϬϬ >ĞƐƐ͗dƌĂŶƐĨĞƌƌĞĚƚŽƐƵƌƉůƵƐŝŶ^ƚĂƚĞŵĞŶƚŽĨWƌŽĮƚĂŶĚ>ŽƐƐ ;ϭϯϳ͘ϱϬͿ - Closing Balance ϰϵϯ͘ϱϬ ϱϬϰ͘ϬϬ e) ^ŚĂƌĞKƉƟŽŶKƵƚƐƚĂŶĚŝŶŐĐĐŽƵŶƚ ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ - ϭ͘ϳϵ >ĞƐƐ͗dƌĂŶƐĨĞƌƌĞĚƚŽƐĞĐƵƌŝƟĞƐƉƌĞŵŝƵŵƌĞƐĞƌǀĞ - ;Ϭ͘ϵϲͿ >ĞƐƐ͗ĞĨĞƌƌĞĚĞŵƉůŽLJĞĞƐƚŽĐŬĐŽŵƉĞŶƐĂƟŽŶ - ;Ϭ͘ϴϯͿ Closing Balance - - f) Other Reserves ĂƉŝƚĂůZĞƐĞƌǀĞŽŶŽŶƐŽůŝĚĂƟŽŶ ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ ϰϯϯ͘ϲϮ ϰϯϯ͘ϲϮ ĚĚ͗ƵƌŝŶŐƚŚĞLJĞĂƌ Ϯϴϭ͘ϯϱ - Closing Balance 714.97 ϰϯϯ͘ϲϮ ZĞǀĂůƵĂƟŽŶZĞƐĞƌǀĞ ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ ;Ϭ͘ϬϭͿ ;Ϭ͘ϬϭͿ ĚĚ͗ƵƌŝŶŐƚŚĞLJĞĂƌ Ϭ͘Ϭϭ - Closing Balance - ;Ϭ͘ϬϭͿ Central/State Subsidy Reserve ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ Ϭ͘ϭϮ Ϭ͘ϭϮ >ĞƐƐ͗dƌĂŶƐĨĞƌƚŽ'ĞŶĞƌĂůƌĞƐĞƌǀĞ - - Closing Balance Ϭ͘ϭϮ Ϭ͘ϭϮ &ŽƌĞŝŐŶƵƌƌĞŶĐLJdƌĂŶƐůĂƟŽŶZĞƐĞƌǀĞ ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ ϭϵϬ͘ϵϲ ϭϲ͘ϳϮ ĚĚ͗ƵƌŝŶŐƚŚĞLJĞĂƌ ϵϴ͘ϲϱ ϭϳϰ͘Ϯϰ Closing Balance Ϯϴϵ͘ϲϭ ϭϵϬ͘ϵϲ General Reserve ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ ϭ͕ϭϴϰ͘ϱϵ ϵϲϮ͘Ϭϱ ĚĚ͗dƌĂŶƐĨĞƌƌĞĚĨƌŽŵ^ƚĂƚĞŵĞŶƚŽĨWƌŽĮƚĂŶĚ>ŽƐƐ ϭϳϱ͘ϬϬ ϮϮϮ͘ϱϰ Closing Balance ϭ͕ϯϱϵ͘ϱϵ ϭ͕ϭϴϰ͘ϱϵ

208 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 4. Z^Zs^E^hZW>h^ΈKEd͘Ή g) ^ƵƌƉůƵƐŝŶ^ƚĂƚĞŵĞŶƚŽĨWƌŽĮƚĂŶĚ>ŽƐƐ ƐƉĞƌůĂƐƚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ ϭϱ͕ϭϲϵ͘Ϭϱ ϭϭ͕ϵϱϵ͘ϬϬ ĚĚ͗ƵƌŝŶŐƚŚĞLJĞĂƌ Ϯ͕ϵϭϬ͘ϭϭ ϯ͕ϵϲϰ͘ϵϬ >ĞƐƐ͗ƉƉƌŽƉƌŝĂƟŽŶƐ - ͲdƌĂŶƐĨĞƌƚŽĞďĞŶƚƵƌĞZĞĚĞŵƉƟŽŶZĞƐĞƌǀĞ ϭϮϳ͘ϬϬ ϯϱϯ͘ϬϬ ͲdƌĂŶƐĨĞƌĨƌŽŵĞďĞŶƚƵƌĞZĞĚĞŵƉƟŽŶZĞƐĞƌǀĞ ;ϭϯϳ͘ϱϬͿ - ͲdƌĂŶƐĨĞƌƚŽ'ĞŶĞƌĂůZĞƐĞƌǀĞ ϭϳϱ͘ϬϬ ϮϮϮ͘ϱϰ ͲWƌŽƉŽƐĞĚĚŝǀŝĚĞŶĚŽŶĞƋƵŝƚLJƐŚĂƌĞƐΛ`ϭ͘ϲϬƉĞƌƐŚĂƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ ϭϰϵ͘ϱϳ ϭϰϵ͘ϰϲ Λ` ϭ͘ϲϬƉĞƌƐŚĂƌĞͿ - Corporate tax on proposed dividend ϯ͘ϯϮ ϯ͘ϭϱ Ͳ/ŶƚĞƌŝŵŝǀŝĚĞŶĚŽŶƋƵŝƚLJ^ŚĂƌĞƐͲLJƐƵďƐŝĚŝĂƌLJ ϰ͘ϴϮ ϰ͘ϴϮ ͲŽƌƉŽƌĂƚĞdĂdžŽŶ/ŶƚĞƌŝŵŝǀŝĚĞŶĚͲLJƐƵďƐŝĚŝĂƌLJ Ϯϭ͘ϴϴ Ϯϭ͘ϴϴ EĞƚ^ƵƌƉůƵƐŝŶƚŚĞ^ƚĂƚĞŵĞŶƚŽĨWƌŽĮƚĂŶĚ>ŽƐƐ ϭϳ͕ϳϯϱ͘Ϭϳ ϭϱ͕ϭϲϵ͘Ϭϱ Total Reserves & Surplus Ϯϭ͕ϭϱϴ͘ϳϴ ϭϴ͕Ϭϭϳ͘ϲϮ

dŚĞŽŵƉĂŶLJŚĂƐŵĂĚĞĂƉƌŽǀŝƐŝŽŶŽĨ`ϯ͘ϯϮĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϯ͘ϭϱĐƌŽƌĞͿŶĞƚŽĨƌĞǀĞƌƐĂůŽĨ` NIL (Previous year `Ϭ͘ϬϮĐƌŽƌĞͿĨŽƌĐŽƌƉŽƌĂƚĞĚŝǀŝĚĞŶĚƚĂdžŽŶƚŚĞĂŵŽƵŶƚŽĨĚŝǀŝĚĞŶĚƉƌŽƉŽƐĞĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯĂŌĞƌ ĐŽŶƐŝĚĞƌŝŶŐƚŚĞƐĞƚͲŽīŽĨŝŶƚĞƌŝŵĚŝǀŝĚĞŶĚĚĞĐůĂƌĞĚďLJĂƐƵďƐŝĚŝĂƌLJŽŵƉĂŶLJĨŽƌƚŚĞƐĂŵĞĮŶĂŶĐŝĂůLJĞĂƌ͕ĂƐƉĞƌƚŚĞ ƉƌŽǀŝƐŝŽŶƐŽĨƐĞĐƟŽŶϭϭϱͲKŽĨƚŚĞ/ŶĐŽŵĞdĂdžĐƚ͕ϭϵϲϭ͘ /ŶƚŚĞLJĞĂƌϮϬϭϬͲϭϭ͕ĚŝǀŝĚĞŶĚƉƌŽƉŽƐĞĚƌĞůĂƟŶŐƚŽƚŚĞƐŚĂƌĞƐƵŶĚĞƌ^K^ǁĂƐŵĂĚĞŽŶƚŚĞďĂƐŝƐŽĨŽƉƟŽŶƐǀĞƐƚĞĚďƵƚ ŶŽƚĞdžĞƌĐŝƐĞĚƟůůƚŚĞĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͘WƌŽǀŝƐŝŽŶŵĂĚĞŝŶƌĞƐƉĞĐƚŽĨŽƉƟŽŶƐůĂƉƐĞĚĂŶĚŶŽƚĞdžĞƌĐŝƐĞĚŝŶƚŚĞLJĞĂƌ ϮϬϭϭͲϭϮŚĂĚďĞĞŶĂĚũƵƐƚĞĚǁŝƚŚƚŚĞĚŝǀŝĚĞŶĚƉƌŽƉŽƐĞĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚŽŶϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ͘

(` in Crore) EŽŶͲƵƌƌĞŶƚWŽƌƟŽŶ ƵƌƌĞŶƚWŽƌƟŽŶ WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 5. >KE'ͳdZDKZZKt/E'^ a) ^ĞĐƵƌĞĚ>ŽŶŐͲƚĞƌŵBŽƌƌŽǁŝŶŐƐ i) Debentures ϵ͘ϴϬй^ĞĐƵƌĞĚZĞĚĞĞŵĂďůĞEŽŶ ϭ͕ϬϬϬ͘ϬϬ ϭ͕ϬϬϬ͘ϬϬ - - ŽŶǀĞƌƟďůĞĞďĞŶƚƵƌĞƐŽĨ ` 10,00,000 each ;WƌŝǀĂƚĞůLJƉůĂĐĞĚŝŶŝƟĂůůLJǁŝƚŚ >ŝĨĞ/ŶƐƵƌĂŶĐĞŽƌƉŽƌĂƟŽŶŽĨ India) ϵ͘ϴϬй^ĞĐƵƌĞĚZĞĚĞĞŵĂďůĞEŽŶ ϲϮ͘ϬϬ ϲϮ͘ϬϬ - - ŽŶǀĞƌƟďůĞĞďĞŶƚƵƌĞƐŽĨ ` 10,00,000 each ;WƌŝǀĂƚĞůLJƉůĂĐĞĚŝŶŝƟĂůůLJǁŝƚŚ^/ Life Insurance Company Limited)

209 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) EŽŶͲƵƌƌĞŶƚWŽƌƟŽŶ ƵƌƌĞŶƚWŽƌƟŽŶ WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 5. >KE'ͳdZDKZZKt/E'^ΈKEd͘Ή ϴ͘ϱϬй^ĞĐƵƌĞĚZĞĚĞĞŵĂďůĞEŽŶ Ϯϱ͘ϬϬ Ϯϱ͘ϬϬ - - ŽŶǀĞƌƟďůĞĞďĞŶƚƵƌĞƐŽĨ ` 10,00,000 each ;WƌŝǀĂƚĞůLJƉůĂĐĞĚŝŶŝƟĂůůLJǁŝƚŚ ICICI Lombard General Insurance Company Limited) ϴ͘ϱϬй^ĞĐƵƌĞĚZĞĚĞĞŵĂďůĞEŽŶ ϳϱ͘ϬϬ ϳϱ͘ϬϬ - - ŽŶǀĞƌƟďůĞĞďĞŶƚƵƌĞƐŽĨ ` 10,00,000 each ;WƌŝǀĂƚĞůLJƉůĂĐĞĚŝŶŝƟĂůůLJǁŝƚŚ ///WƌƵĚĞŶƟĂů>ŝĨĞ/ŶƐƵƌĂŶĐĞ Company Limited) ϵ͘ϴϬй^ĞĐƵƌĞĚZĞĚĞĞŵĂďůĞEŽŶ ϱϬϬ͘ϬϬ ϱϬϬ͘ϬϬ - - ŽŶǀĞƌƟďůĞĞďĞŶƚƵƌĞƐŽĨ ` 10,00,000 each ;WƌŝǀĂƚĞůLJƉůĂĐĞĚŝŶŝƟĂůůLJǁŝƚŚ >ŝĨĞ/ŶƐƵƌĂŶĐĞŽƌƉŽƌĂƟŽŶŽĨ India) ϭ͕ϲϲϮ͘ϬϬ ϭ͕ϲϲϮ͘ϬϬ - - ii) dĞƌŵ>ŽĂŶƐĨƌŽŵĂŶŬƐ ϭϭ͕ϵϲϯ͘Ϯϰ ϳ͕ϭϮϲ͘ϲϮ ϴϱϬ͘ϴϬ ϯϭϲ͘ϵϳ - - iii) KƚŚĞƌ>ŽĂŶƐĨƌŽŵĂŶŬƐ ϭϰϵ͘ϵϮ ϭϳϳ͘ϯϮ - -

ϭϮ͕ϭϭϯ͘ϭϲ ϳ͕ϯϬϯ͘ϵϰ ϴϱϬ͘ϴϬ ϯϭϲ͘ϵϳ ^ĞĐƵƌĞĚ>ŽŶŐƚĞƌŵďŽƌƌŽǁŝŶŐƐ ϭϯ͕ϳϳϱ͘ϭϲ ϴ͕ϵϲϱ͘ϵϰ ϴϱϬ͘ϴϬ ϯϭϲ͘ϵϳ

DEBENTURES ŝŝͿ ĞďĞŶƚƵƌĞƐƉůĂĐĞĚŝŶŝƟĂůůLJǁŝƚŚ^/>ŝĨĞ/ŶƐƵƌĂŶĐĞŽŵƉĂŶLJ ŝͿ ĞďĞŶƚƵƌĞƐ ŽĨ ` ϭ͕ϬϬϬ ĐƌŽƌĞ ƉůĂĐĞĚ ŝŶŝƟĂůůLJ ǁŝƚŚ >ŝĨĞ Limited on private placement basis are redeemable at par in /ŶƐƵƌĂŶĐĞŽƌƉŽƌĂƟŽŶŽĨ/ŶĚŝĂŽŶƉƌŝǀĂƚĞƉůĂĐĞŵĞŶƚďĂƐŝƐ ϱĞƋƵĂůĂŶŶƵĂůŝŶƐƚĂůŵĞŶƚƐĐŽŵŵĞŶĐŝŶŐĨƌŽŵƚŚĞĞŶĚŽĨϴ ĂƌĞ ƌĞĚĞĞŵĂďůĞ Ăƚ ƉĂƌ ŝŶ Ϯ ĞƋƵĂů ĂŶŶƵĂů ŝŶƐƚĂůŵĞŶƚƐ Ăƚ LJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞŽĨĂůůŽƚŵĞŶƚŝ͘Ğ͘ϮϵƚŚĞĐĞŵďĞƌ͕ϮϬϬϵ͘ ƚŚĞĞŶĚŽĨϵ͘ϱĂŶĚϭϬ͘ϱLJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞŽĨƌĞƐƉĞĐƟǀĞ dŚĞ ĚĞďĞŶƚƵƌĞƐ ĂƌĞ ƐĞĐƵƌĞĚ ŽŶ ƉĂƌŝ ƉĂƐƐƵ ďĂƐŝƐ ďLJ ǁĂLJ ĂůůŽƚŵĞŶƚƐŝ͘Ğ͘`ϭϬϬĐƌŽƌĞ;ϭϮƚŚKĐƚŽďĞƌ͕ϮϬϬϵͿ͕`ϭϱϬĐƌŽƌĞ ŽĨ ŵŽƌƚŐĂŐĞ ŽĨ ŝŵŵŽǀĂďůĞ ƉƌŽƉĞƌƟĞƐ ĂŶĚ ŚLJƉŽƚŚĞĐĂƟŽŶ ;ϮϮŶĚKĐƚŽďĞƌ͕ϮϬϬϵͿ͕`ϭϱϬĐƌŽƌĞ;ϮϰƚŚEŽǀĞŵďĞƌ͕ϮϬϬϵͿ͕ ŽĨ ŵŽǀĂďůĞ ĂƐƐĞƚƐ ĐƌĞĂƚĞĚͬƚŽ ďĞ ĐƌĞĂƚĞĚ ŽŶ ƚŚĞ ϲdžϭϯϱ ` ϭϱϬ ĐƌŽƌĞ ;ϮϰƚŚ ĞĐĞŵďĞƌ͕ ϮϬϬϵͿ͕ ` ϭϱϬ ĐƌŽƌĞ ;ϮϱƚŚ MW Power Plant Project at Angul, Odisha in favour of the January, 2010), ` ϭϱϬ ĐƌŽƌĞ ;ϭϵƚŚ &ĞďƌƵĂƌLJ͕ ϮϬϭϬͿ ĂŶĚ ĞďĞŶƚƵƌĞdƌƵƐƚĞĞƐ͘    `  ϭϱϬ ĐƌŽƌĞ ;ϮϲƚŚ DĂƌĐŚ͕ ϮϬϭϬͿ͘ dŚĞ ĚĞďĞŶƚƵƌĞƐ ĂƌĞ ŝŝŝͿ ĞďĞŶƚƵƌĞƐ  ƉůĂĐĞĚ ŝŶŝƟĂůůLJ ǁŝƚŚ /// >ŽŵďĂƌĚ 'ĞŶĞƌĂů secured on pari-passu charge basis by way of mortgage Insurance Company Limited on private placement basis ŽĨ ŝŵŵŽǀĂďůĞ ƉƌŽƉĞƌƟĞƐ ĂŶĚ ŚLJƉŽƚŚĞĐĂƟŽŶ ŽĨ ŵŽǀĂďůĞ ĂƌĞƌĞĚĞĞŵĂďůĞĂƚƉĂƌĂƚƚŚĞĞŶĚŽĨϱLJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞ ĮdžĞĚĂƐƐĞƚƐĐƌĞĂƚĞĚͬƚŽďĞĐƌĞĂƚĞĚŽŶƚŚĞϲdžϭϯϱDtWŽǁĞƌ ŽĨ ĂůůŽƚŵĞŶƚ ŝ͘Ğ͘ ϯƌĚ ĞĐĞŵďĞƌ͕ ϮϬϬϵ͘ dŚĞ ĚĞďĞŶƚƵƌĞƐ WůĂŶƚWƌŽũĞĐƚĂƚŶŐƵů͕KĚŝƐŚĂŝŶĨĂǀŽƵƌŽĨƚŚĞĞďĞŶƚƵƌĞ are secured on pari-passu basis by way of mortgage of dƌƵƐƚĞĞƐ͘    ŝŵŵŽǀĂďůĞ ƉƌŽƉĞƌƟĞƐ ĂŶĚ ŚLJƉŽƚŚĞĐĂƟŽŶ ŽĨ ŵŽǀĂďůĞ ĮdžĞĚĂƐƐĞƚƐŽĨƚŚĞŽŵƉĂŶLJŝŶĨĂǀŽƵƌŽĨƚŚĞĞďĞŶƚƵƌĞ dƌƵƐƚĞĞƐ͘   

210 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

ŝǀͿ ĞďĞŶƚƵƌĞƐ ƉůĂĐĞĚ ŝŶŝƟĂůůLJ ǁŝƚŚ /// WƌƵĚĞŶƟĂů >ŝĨĞ iii) Loans of `ϰϮ͘ϴϲĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϳϳ͘ϭϰĐƌŽƌĞͿĂƌĞ Insurance Company Limited on private placement basis ƐĞĐƵƌĞĚďLJĞdžĐůƵƐŝǀĞĐŚĂƌŐĞŽŶĮdžĞĚĂƐƐĞƚƐĐƌĞĂƚĞĚƵŶĚĞƌ ĂƌĞƌĞĚĞĞŵĂďůĞĂƚƉĂƌĂƚƚŚĞĞŶĚŽĨϱLJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞ ϯdžϮϱDtWŽǁĞƌWůĂŶƚĂƚZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ͖ ŽĨ ĂůůŽƚŵĞŶƚ ŝ͘Ğ͘ ϯƌĚ ĞĐĞŵďĞƌ͕ ϮϬϬϵ͘ dŚĞ ĚĞďĞŶƚƵƌĞƐ iv) Loans of ` ` NIL) are secured are secured on pari-passu basis by way of mortgage of Ϯ͕ϳϵϵ͘ϰϬĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ ďLJĞdžĐůƵƐŝǀĞĐŚĂƌŐĞŽŶĮdžĞĚĂƐƐĞƚƐĐƌĞĂƚĞĚͬƚŽďĞĐƌĞĂƚĞĚ ŝŵŵŽǀĂďůĞ ƉƌŽƉĞƌƟĞƐ ĂŶĚ ŚLJƉŽƚŚĞĐĂƟŽŶ ŽĨ ŵŽǀĂďůĞ ĮdžĞĚ ĂƐƐĞƚƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ŝŶ ĨĂǀŽƵƌ ŽĨ ƚŚĞ ĞďĞŶƚƵƌĞ ƵŶĚĞƌƚŚĞZ/ƉƌŽũĞĐƚĂƚŶŐƵů͕KĚŝƐŚĂ͖ dƌƵƐƚĞĞƐ͘    v) Loans of `ϲϬϵ͘ϱϵĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϲϵϴ͘ϰϳĐƌŽƌĞͿĂƌĞ ǀͿ ĞďĞŶƚƵƌĞƐ ŽĨ ` ϱϬϬ ĐƌŽƌĞ ƉůĂĐĞĚ ŝŶŝƟĂůůLJ ǁŝƚŚ >ŝĨĞ ƐĞĐƵƌĞĚďLJĞdžĐůƵƐŝǀĞĐŚĂƌŐĞŽŶĮdžĞĚĂƐƐĞƚƐĐƌĞĂƚĞĚƵŶĚĞƌ /ŶƐƵƌĂŶĐĞŽƌƉŽƌĂƟŽŶŽĨ/ŶĚŝĂŽŶƉƌŝǀĂƚĞƉůĂĐĞŵĞŶƚďĂƐŝƐ ϮyϭϯϱDtWŽǁĞƌWůĂŶƚ;WŚĂƐĞͲϭͿĂƚŽŶŐĂŵĂƵŚĂ͕ZĂŝŐĂƌŚ͕ ĂƌĞ ƌĞĚĞĞŵĂďůĞ Ăƚ ƉĂƌ ŝŶ Ϯ ĞƋƵĂů ĂŶŶƵĂů ŝŶƐƚĂůŵĞŶƚƐ Ăƚ ŚŚĂƫƐŐĂƌŚ͖    ƚŚĞĞŶĚŽĨϵ͘ϱĂŶĚϭϬ͘ϱLJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞŽĨƌĞƐƉĞĐƟǀĞ vi) Loans of ` ϲϴϬ͘Ϯϱ ĐƌŽƌĞ ;WƌĞǀŝŽƵƐ LJĞĂƌ ` ϰϱϬ͘ϬϬ ĐƌŽƌĞͿ ` ` ĂůůŽƚŵĞŶƚƐŝ͘Ğ͘ ϭϬϬĐƌŽƌĞ;ϮϰƚŚƵŐƵƐƚ͕ϮϬϬϵͿ͕ ϴϬĐƌŽƌĞ ĂƌĞ ƐĞĐƵƌĞĚ ďLJ ĞdžĐůƵƐŝǀĞ ĐŚĂƌŐĞ ŽŶ ĮdžĞĚ ĂƐƐĞƚƐ ĐƌĞĂƚĞĚͬ ;ϴƚŚ ^ĞƉƚĞŵďĞƌ͕ ϮϬϬϵͿ͕ ` ϴϬ ĐƌŽƌĞ ;ϴƚŚ KĐƚŽďĞƌ͕ ϮϬϬϵͿ͕ ƚŽďĞĐƌĞĂƚĞĚƵŶĚĞƌϮyϭϯϱDtWŽǁĞƌWůĂŶƚ;WŚĂƐĞͲϮͿĂƚ `ϴϬĐƌŽƌĞ;ϵƚŚEŽǀĞŵďĞƌ͕ϮϬϬϵͿ͕`ϴϬĐƌŽƌĞ;ϴƚŚĞĐĞŵďĞƌ͕ ŽŶŐĂŵĂƵŚĂ͕ZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ͖  ϮϬϬϵͿĂŶĚ`ϴϬĐƌŽƌĞ;ϴƚŚ:ĂŶƵĂƌLJ͕ϮϬϭϬͿ͘dŚĞĚĞďĞŶƚƵƌĞƐ are secured on pari-passu charge basis by way of mortgage vii) Loans of `ϯ͕ϭϱϰ͘ϱϱĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭ͕ϴϰϭ͘ϭϬĐƌŽƌĞͿ ŽĨ ŝŵŵŽǀĂďůĞ ƉƌŽƉĞƌƟĞƐ ĂŶĚ ŚLJƉŽƚŚĞĐĂƟŽŶ ŽĨ ŵŽǀĂďůĞ ĂƌĞƐĞĐƵƌĞĚďLJĞdžĐůƵƐŝǀĞĐŚĂƌŐĞŽŶĮdžĞĚĂƐƐĞƚƐĐƌĞĂƚĞĚͬƚŽ ĮdžĞĚ ĂƐƐĞƚƐŽĨ ƚŚĞŽŵƉĂŶLJ  ŝŶĨĂǀŽƵƌ ŽĨ ƚŚĞĞďĞŶƚƵƌĞ ďĞĐƌĞĂƚĞĚƵŶĚĞƌϭ͘ϲDdW/ŶƚĞŐƌĂƚĞĚ^ƚĞĞůWůĂŶƚĂŶĚϭ͘ϱ dƌƵƐƚĞĞƐ͘    DdWWůĂƚĞDŝůůƉƌŽũĞĐƚĂƚŶŐƵů͕KĚŝƐŚĂ͖ 

TERM LOANS viii) Loans of `ϭ͕ϲϵϮ͘ϮϬĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭ͕ϯϳϬ͘ϬϬĐƌŽƌĞͿ i) Loans of `ϵϳ͘ϵϴĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭϳϲ͘ϱϰĐƌŽƌĞͿĂƌĞ ĂƌĞ ƐĞĐƵƌĞĚͬƚŽ ďĞ ƐĞĐƵƌĞĚ ďLJ ĞdžĐůƵƐŝǀĞ ĐŚĂƌŐĞ ŽŶ ĮdžĞĚ ƐĞĐƵƌĞĚďLJĞdžĐůƵƐŝǀĞĐŚĂƌŐĞŽŶĮdžĞĚĂƐƐĞƚƐĐƌĞĂƚĞĚƵŶĚĞƌ ĂƐƐĞƚƐĐƌĞĂƚĞĚͬƚŽďĞĐƌĞĂƚĞĚƵŶĚĞƌϲdžϭϯϱDtWŽǁĞƌWůĂŶƚ ^ƚĞĞůĞdžƉĂŶƐŝŽŶƉƌŽũĞĐƚĂƚZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ͖ WƌŽũĞĐƚĂƚŶŐƵů͕KĚŝƐŚĂ͖ ii) Loans of ` ϭϬϰ͘ϬϰĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭϱϬ͘ϰϬĐƌŽƌĞͿĂƌĞ ix) Loan of ` Ϯϯϰ͘ϭϰ ĐƌŽƌĞ ;WƌĞǀŝŽƵƐ LJĞĂƌ ` ϮϱϬ͘ϬϬ ĐƌŽƌĞͿ ƐĞĐƵƌĞĚďLJĞdžĐůƵƐŝǀĞĐŚĂƌŐĞŽŶĮdžĞĚĂƐƐĞƚƐĐƌĞĂƚĞĚƵŶĚĞƌ ĂƌĞ ƐĞĐƵƌĞĚ ďLJ ƐƵďƐĞƌǀŝĞŶƚ ĐŚĂƌŐĞ ŽŶ ĮdžĞĚ ĂƐƐĞƚƐ ŽĨ ƚŚĞ WůĂƚĞDŝůůƉƌŽũĞĐƚĂƚZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ͖ ŽŵƉĂŶLJ͖   

ZĞƉĂLJŵĞŶƚƐĂŶĚ/ŶƚĞƌĞƐƚƌĂƚĞƐĨŽƌƚŚĞĂďŽǀĞdĞƌŵ>ŽĂŶƐĂƌĞĂƐĨŽůůŽǁƐ͗

Year ϮϬϭϯͲϭϰ ϮϬϭϰͲϭϱ ϮϬϭϱͲϭϲ ϮϬϭϲͲϭϳΘďŽǀĞ Amount ϴϱϬ͘ϴϬ ϭ͕ϰϯϰ͘Ϯϯ ϭ͕ϯϱϲ͘ϵϵ ϱ͕ϳϳϮ͘ϵϵ

dŚĞŝŶƚĞƌĞƐƚƌĂƚĞĨŽƌƚŚĞĂďŽǀĞƚĞƌŵůŽĂŶƐǀĂƌŝĞƐĨƌŽŵϴ͘ϰϭйƚŽϭϯ͘ϮϱйƉ͘Ă

TERM LOANS (in foreign subsidiaries) Repayment SĐŚĞĚƵůĞ    i) Loan of ` Ϯ͕ϱϴϯ͘ϰϵĐƌŽƌĞ;WƌĞǀŝŽƵƐzĞĂƌ`Ϯ͕ϰϮϵ͘ϵϯĐƌŽƌĞͿ ϱϬйĂƚƚŚĞĞŶĚŽĨϰ͘ϱLJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞŽĨĮƌƐƚĚŝƐďƵƌƐĞŵĞŶƚ ŝƐƐĞĐƵƌĞĚďLJĮƌƐƚƌĂŶŬŝŶŐůĞŐĂůĐŚĂƌŐĞŝŶƌĞƐƉĞĐƚŽĨĂůůƚŚĞ ŽĨ ůŽĂŶ ĂŶĚ ƚŚĞ ďĂůĂŶĐĞ ϱϬй Ăƚ ƚŚĞ ĞŶĚ ŽĨ ϱ LJĞĂƌƐ ĨƌŽŵ ĮƌƐƚ ĚŝƐďƵƌƐĞŵĞŶƚ͘ ĮdžĞĚ ĂƐƐĞƚƐ ŽĨ ^ŚĂĚĞĞĚ /ƌŽŶ Θ ^ƚĞĞů >> ϭ͘ϱ DdW ,Žƚ ďƌŝƋƵĞƩĞĚ /ƌŽŶ WƌŽũĞĐƚ Ăƚ ^ŽŚĂƌ͕ KŵĂŶ͕ ĂŶĚ ĂƐƐŝŐŶŵĞŶƚ ii) Loan of `ϴϭϱ͘ϱϰĐƌŽƌĞ;WƌĞǀŝŽƵƐzĞĂƌ` NIL) is secured by ŽĨ /ŶƚĞƌĐŽƌƉŽƌĂƚĞ ůŽĂŶƐ ŽĨ h^Ψ ϰϳϱ ŵŝůůŝŽŶ ŐƌĂŶƚĞĚ ďLJ ĮƌƐƚƌĂŶŬŝŶŐƉůĞĚŐĞŽĨϰϵйƐŚĂƌĞĐĂƉŝƚĂůŽĨ:ŝŶĚĂůDŝŶŝŶŐ^ :ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌ;DĂƵƌŝƟƵƐͿ>ŝŵŝƚĞĚƚŽ^ŚĂĚĞĞĚ/ƌŽŶΘ (Pty) Limited held by the Company through its step down Steel LLC in favour of the lenders with further lien on the ƐƵďƐŝĚŝĂƌŝĞƐdŚĞĂďŽǀĞůŽĂŶŚĂƐďĞĞŶĨƵƌƚŚĞƌŐƵĂƌĂŶƚĞĞĚ ďLJƚŚĞ͞ŽŵƉĂŶLJ͘͟ designated account used for repayment of loan by Shadeed /ƌŽŶ Θ ^ƚĞĞů >>  ƚŽ :ŝŶĚĂů ^ƚĞĞů Θ WŽǁĞƌ ;DĂƵƌŝƟƵƐͿ Repayment SĐŚĞĚƵůĞ >ŝŵŝƚĞĚ͘dŚĞ ĂďŽǀĞ ůŽĂŶ ŚĂƐ ďĞĞŶ ĨƵƌƚŚĞƌ ŐƵĂƌĂŶƚĞĞĚ ďLJ ZĞƉĂLJĂďůĞŝŶϯĞƋƵĂůƐĞŵŝĂŶŶƵĂůŝŶƐƚĂůŵĞŶƚƐĐŽŵŵĞŶĐŝŶŐĨƌŽŵ ƚŚĞ͞ŽŵƉĂŶLJ͘͟    ƚŚĞĞŶĚŽĨϰƚŚLJĞĂƌĨƌŽŵƚŚĞĚĂƚĞŽĨĮƌƐƚĚŝƐďƵƌƐĞŵĞŶƚ

211 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

OTHER LOANS ŽĨ ŽƚŚĞƌ ŵŽǀĂďůĞ ĂŶĚ ŝŵŵŽǀĂďůĞ ĂƐƐĞƚƐ͖ ƚŚĞ ĐŚĂƌŐĞ ŽŶ ` ^ĞĐƵƌŝƚLJ    immoveable assets being an umbrella charge upto ϰϲϳ͘ϱϬ i) Loans of `ϵϱ͘ϳϱĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭϯϱ͘ϱϱĐƌŽƌĞͿĂƌĞ crore to secure cash credit from banks and other loans as ^ĞĐƵƌĞĚďLJŚLJƉŽƚŚĞĐĂƟŽŶďLJǁĂLJŽĨĮƌƐƚĐŚĂƌŐĞŽŶƐƚŽĐŬƐ ƉĞƌŶŽƚĞϴ;ĂͿ͘ ŽĨ ĮŶŝƐŚĞĚ ŐŽŽĚƐ͕ ƌĂǁ ŵĂƚĞƌŝĂů͕ ǁŽƌŬ ŝŶ ƉƌŽŐƌĞƐƐ͕ ƐƚŽƌĞƐ ii) Loans of ` ϱϰ͘ϭϳ ĐƌŽƌĞ ;WƌĞǀŝŽƵƐ LJĞĂƌ ` ϰϭ͘ϳϳ ĐƌŽƌĞͿ ĂƌĞ and spares and book debts and second charge in respect ƐĞĐƵƌĞĚďLJŚLJƉŽƚŚĞĐĂƟŽŶŽĨŬĚĞďƚƐĂŶĚƐƚŽĐŬƐ͘

5. >KE'ͳdZDKZZKt/E'^ΈKEd͘Ή (` in Crore) EŽŶͲƵƌƌĞŶƚWŽƌƟŽŶ ƵƌƌĞŶƚWŽƌƟŽŶ WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ b) hŶƐĞĐƵƌĞĚ>ŽŶŐͲƚĞƌŵŽƌƌŽǁŝŶŐƐ i) Term Loans Unsecured Term Loans from Banks Other Loans ϱϲϵ͘ϳϴ ϭ͕ϬϰϬ͘ϲϵ - - Unsecured Term Loans from Others &ŝdžĞĚĞƉŽƐŝƚƐĨƌŽŵWƵďůŝĐ - ϲ͘Ϭϴ ϱ͘ϵϰ ϯϭ͘ϭϰ ϱϲϵ͘ϳϴ ϭ͕Ϭϰϲ͘ϳϳ 5.94 31.14 ii) KƚŚĞƌ>ŽĂŶƐΘĚǀĂŶĐĞƐ džƚĞƌŶĂůŽŵŵĞƌĐŝĂů ϭ͕Ϭϱϲ͘ϳϬ ϭ͕ϭϲϲ͘ϵϮ ϭϭϴ͘ϱϰ ϵϵϯ͘ϳϱ Borrowings ϭ͕Ϭϱϲ͘ϳϬ ϭ͕ϭϲϲ͘ϵϮ 118.54 993.75 hŶƐĞĐƵƌĞĚ>ŽŶŐͲƚĞƌŵ ϭ͕ϲϮϲ͘ϰϴ Ϯ͕Ϯϭϯ͘ϲϵ ϭϮϰ͘ϰϴ ϭ͕ϬϮϰ͘ϴϵ ŽƌƌŽǁŝŶŐƐ dŽƚĂů>ŽŶŐͲdĞƌŵŽƌƌŽǁŝŶŐƐ ϭϱ͕ϰϬϭ͘ϲϰ ϭϭ͕ϭϳϵ͘ϲϯ ϵϳϱ͘Ϯϴ ϭ͕ϯϰϭ͘ϴϲ Amount disclosed under other- - - ;ϵϲϵ͘ϯϰͿ ;ϭ͕ϯϰϭ͘ϴϲͿ ĐƵƌƌĞŶƚ>ŝĂďŝůŝƟĞƐ΀EŽƚĞŶŽ͘ͲϭϬ;ĂͿ΁ Amount disclosed under short term - - ;ϱ͘ϵϰͿ - ďŽƌƌŽǁŝŶŐƐ΀EŽƚĞŶŽ͘Ͳϴ;ďͿ;ŝŝŝͿ΁ dŽƚĂů>ŽŶŐͲdĞƌŵŽƌƌŽǁŝŶŐƐ ϭϱ͕ϰϬϭ͘ϲϰ ϭϭ͕ϭϳϵ͘ϲϯ - -

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ ϲ͘ Kd,Z>KE'ͳdZD>//>/d/^ ^ĞĐƵƌŝƚLJĞƉŽƐŝƚƐĂŶĚĚǀĂŶĐĞƐ ϱϲϭ͘ϳϵ ϭϰϮ͘Ϭϲ dŽƚĂůKƚŚĞƌ>ŽŶŐͲdĞƌŵ>ŝĂďŝůŝƟĞƐ ϱϲϭ͘ϳϵ ϭϰϮ͘Ϭϲ

212 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 7. >KE'ͳdZDWZKs/^/KE^ WƌŽǀŝƐŝŽŶĨŽƌŵƉůŽLJĞĞĞŶĞĮƚƐ Gratuity ϭϭ͘ϱϴ ϭϬ͘ϲϭ KƚŚĞƌĚĞĮŶĞĚďĞŶĞĮƚƉůĂŶƐ΂EŽƚĞŶŽ͘Ͳϯϰ;ďͿ΃ ϵ͘ϯϲ ϭϬ͘ϯϴ >ĞĂǀĞŶĐĂƐŚŵĞŶƚ ϭϭ͘ϳϳ ϭϮ͘ϱϱ Total Long-term Provisions ϯϮ͘ϳϭ 33.54

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 8. ^,KZdͳdZDKZZKt/E'^ a) ^ĞĐƵƌĞĚ^ŚŽƌƚͲƚĞƌŵŽƌƌŽǁŝŶŐƐ &ƌŽŵĂŶŬƐ Cash Credit from Banks ϱϭϵ͘ϴϳ ϰϰϳ͘ϲϯ Other Loans ϲϵϲ͘ϴϬ Ϯϱϵ͘ϱϴ ϭ͕Ϯϭϲ͘ϲϳ ϳϬϳ͘Ϯϭ ^ĞĐƵƌĞĚ^ŚŽƌƚͲƚĞƌŵŽƌƌŽǁŝŶŐƐ ϭ͕Ϯϭϲ͘ϲϳ ϳϬϳ͘Ϯϭ Cash CƌĞĚŝƚĨƌŽŵĂŶŬƐ ^ĞĐƵƌĞĚďLJŚLJƉŽƚŚĞĐĂƟŽŶďLJǁĂLJŽĨĮƌƐƚĐŚĂƌŐĞŽŶƐƚŽĐŬƐŽĨĮŶŝƐŚĞĚŐŽŽĚƐ͕ƌĂǁŵĂƚĞƌŝĂů͕ǁŽƌŬŝŶƉƌŽŐƌĞƐƐ͕ƐƚŽƌĞƐĂŶĚƐƉĂƌĞƐ ĂŶĚŬĚĞďƚƐĂŶĚƐĞĐŽŶĚĐŚĂƌŐĞŝŶƌĞƐƉĞĐƚŽĨŽƚŚĞƌŵŽǀĂďůĞĂŶĚŝŵŵŽǀĂďůĞĂƐƐĞƚƐ͖ƚŚĞĐŚĂƌŐĞŽŶŝŵŵŽǀĞĂďůĞĂƐƐĞƚƐďĞŝŶŐĂŶ umbrella charge upto `ϰϲϳ͘ϱϬĐƌŽƌĞƚŽƐĞĐƵƌĞŽƚŚĞƌůŽĂŶƐĨƌŽŵďĂŶŬƐĂƐƉĞƌŶŽƚĞϱ;ĂͿ;ŝŝŝͿĂŶĚŽƚŚĞƌůŽĂŶƐƵŶĚĞƌŶŽƚĞϴ;ĂͿ͘dŚĞĐĂƐŚ ĐƌĞĚŝƚŝƐƌĞƉĂLJĂďůĞŽŶĚĞŵĂŶĚ͘ Other Loans i) Loans of `ϮϬϭ͘ϰϯĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ` Ϯϱϵ͘ϱϴĐƌŽƌĞͿĂƌĞ^ĞĐƵƌĞĚďLJŚLJƉŽƚŚĞĐĂƟŽŶďLJǁĂLJŽĨĮƌƐƚĐŚĂƌŐĞŽŶƐƚŽĐŬƐŽĨĮŶŝƐŚĞĚ goods, raw material, work in progress, stores and spares and book debts and second charge in respect of other movable and ŝŵŵŽǀĂďůĞĂƐƐĞƚƐ͖ƚŚĞĐŚĂƌŐĞŽŶŝŵŵŽǀĞĂďůĞĂƐƐĞƚƐďĞŝŶŐĂŶƵŵďƌĞůůĂĐŚĂƌŐĞƵƉƚŽ`ϰϲϳ͘ϱϬĐƌŽƌĞƚŽƐĞĐƵƌĞŽƚŚĞƌůŽĂŶƐĨƌŽŵ ďĂŶŬƐĂƐƉĞƌŶŽƚĞϱ;ĂͿ;ŝŝŝͿĂŶĚĐĂƐŚĐƌĞĚŝƚĨƌŽŵďĂŶŬƐƵŶĚĞƌŶŽƚĞϴ;ĂͿ͘ ii) Loans of `Ϯϵϱ͘ϯϳĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌŶŝůͿĂƌĞƐĞĐƵƌĞĚďLJŚLJƉŽƚŚĞĐĂƟŽŶŽĨŬĚĞďƚƐĂŶĚƐƚŽĐŬƐ͘ iii) Loans of `ϮϬϬ͘ϬϬĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌŶŝůͿĂƌĞƐĞĐƵƌĞĚďLJƐďƐĞƌǀŝĞŶƚĐŚĂƌŐĞďLJǁĂLJŽĨŚLJƉŽƚŚĞĐĂƟŽŶŽĨĐƵƌƌĞŶƚĂƐƐĞƚƐ͘ (` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ b) hŶƐĞĐƵƌĞĚ^ŚŽƌƚͲƚĞƌŵŽƌƌŽǁŝŶŐƐ i) Debentures ZĞĚĞĞŵĂďůĞEŽŶŽŶǀĞƌƟďůĞĞďĞŶƚƵƌĞƐ ϰϱϬ͘ϬϬ ϭ͕ϬϬϬ͘ϬϬ ϰϱϬ͘ϬϬ ϭ͕ϬϬϬ͘ϬϬ ii) &ƌŽŵĂŶŬƐ ^ŚŽƌƚdĞƌŵůŽĂŶƐ Ϯ͕ϴϯϬ͘ϰϯ ϯϬϯ͘ϯϮ Other Loans ϭ͕ϳϲϭ͘Ϯϱ Ϯ͕ϮϬϳ͘ϱϲ ϰ͕ϱϵϭ͘ϲϴ Ϯ͕ϱϭϬ͘ϴϴ

213 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ b) hŶƐĞĐƵƌĞĚ^ŚŽƌƚͲƚĞƌŵŽƌƌŽǁŝŶŐƐ;ŽŶƚĚ͘Ϳ iii) From Others &ŝdžĞĚĞƉŽƐŝƚƐĨƌŽŵWƵďůŝĐ ϱ͘ϵϰ - Other Loans ϭ͕ϵϴϮ͘ϴϵ ϯϱϭ͘ϮϮ ϭ͕ϵϴϴ͘ϴϯ ϯϱϭ͘ϮϮ hŶƐĞĐƵƌĞĚ^ŚŽƌƚͲƚĞƌŵŽƌƌŽǁŝŶŐƐ ϳ͕ϬϯϬ͘ϱϭ ϯ͕ϴϲϮ͘ϭϬ dŽƚĂů^ŚŽƌƚͲƚĞƌŵŽƌƌŽǁŝŶŐƐ ϴ͕Ϯϰϳ͘ϭϴ ϰ͕ϱϲϵ͘ϯϭ

Debentures dŚĞĨŽůůŽǁŝŶŐƵŶƐĞĐƵƌĞĚƌĞĚĞĞŵĂďůĞŶŽŶĐŽŶǀĞƌƟďůĞĚĞďĞŶƚƵƌĞƐĂƌĞƉƌŝǀĂƚĞůLJƉůĂĐĞĚĂŶĚĂƌĞƌĞĚĞĞŵĂďůĞĂƚWĂƌĂƚƚŚĞĞŶĚŽĨϮ LJĞĂƌƐĨƌŽŵƚŚĞƌĞƐƉĞĐƟǀĞĚĂƚĞŽĨĂůůŽƚŵĞŶƚ͘dŚĞĂůůͬWƵƚŽƉƟŽŶĐĂŶďĞĞdžĞƌĐŝƐĞĚďLJƚŚĞĞŝƚŚĞƌƉĂƌƚLJĂŌĞƌƐŝdžŵŽŶƚŚƐĨƌŽŵƚŚĞ ƌĞƐƉĞĐƟǀĞĚĂƚĞŽĨĂůůŽƚŵĞŶƚƐ͘ a) E/>;WƌĞǀŝŽƵƐLJĞĂƌϯ͕ϱϬϬŶŽƐ͘ͿϭϬ͘ϮϱйEŽŶŽŶǀĞƌƟďĞĚĞďĞŶƚƵƌĞƐŽĨ` 10,00,000 each b) E/>;WƌĞǀŝŽƵƐLJĞĂƌϯ͕ϳϱϬŶŽƐ͘ͿϭϬ͘ϳϬйEŽŶŽŶǀĞƌƟďĞĚĞďĞŶƚƵƌĞƐŽĨ` 10,00,000 each c) E/>;WƌĞǀŝŽƵƐLJĞĂƌϭ͕ϱϬϬŶŽƐ͘ͿϭϬ͘ϱϱйEŽŶŽŶǀĞƌƟďĞĚĞďĞŶƚƵƌĞƐŽĨ` 10,00,000 each d) E/>;WƌĞǀŝŽƵƐLJĞĂƌϭ͕ϮϱϬŶŽƐ͘ͿϭϬ͘ϱϱйEŽŶŽŶǀĞƌƟďĞĚĞďĞŶƚƵƌĞƐŽĨ` 10,00,000 each e) ϰ͕ϱϬϬŶŽƐ͘;WƌĞǀŝŽƵƐLJĞĂƌE/>ͿϭϬ͘ϬϬйEŽŶŽŶǀĞƌƟďĞĚĞďĞŶƚƵƌĞƐŽĨ` 10,00,000 each (date of allotment 30th July, 2012)

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 9. TRADE PAYABLES dƌĂĚĞWĂLJĂďůĞƐ ϭ͕ϯϵϴ͘ϮϬ ϭ͕Ϯϱϭ͘ϯϲ Total Trade Payables ϭ͕ϯϵϴ͘ϮϬ ϭ͕Ϯϱϭ͘ϯϲ

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ ϭϬ͘ OTHER CURRENT LIABILITIES a) ƵƌƌĞŶƚŵĂƚƵƌŝƟĞƐŽĨůŽŶŐƚĞƌŵĚĞďƚƐ ϵϲϵ͘ϯϰ ϭ͕ϯϰϭ͘ϴϲ b) Interest accrued but not due on borrowings ϭϭϯ͘ϰϰ ϳϰ͘ϰϯ ĐͿ /ŶǀĞƐƚŽƌĚƵĐĂƟŽŶΘWƌŽƚĞĐƟŽŶ&ƵŶĚΎ Unpaid dividend ϭϮ͘ϯϯ ϭϲ͘ϱϬ Unpaid matured deposits and interest accrued Ϭ͘ϴϳ ϭ͘ϱϱ d) KƚŚĞƌWĂLJĂďůĞƐΎΎ Statutory dues ϱϲϳ͘ϭϱ ϱϭϱ͘ϵϯ Advance from customer and others ϮϴϮ͘ϲϳ ϮϵϬ͘Ϭϳ Security deposits and advances ϭϱ͘ϰϬ ϭϯ͘Ϭϭ Creditors for capital expenditure ϱϲϳ͘ϱϬ ϭ͕Ϭϭϲ͘ϭϰ

214 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ ϭϬ͘ Kd,ZhZZEd>//>/d/^ΈKEd͘Ή KƵƚƐƚĂŶĚŝŶŐůŝĂďŝůŝƟĞƐĨŽƌĞdžƉĞŶƐĞƐ ϮϮϭ͘ϱϯ ϱϬϭ͘ϰϳ Others ϲϱϭ͘ϬϮ ϯϯϵ͘ϮϬ ϯ͕ϰϬϭ͘Ϯϱ ϰ͕ϭϭϬ͘ϭϲ dŽƚĂůKƚŚĞƌƵƌƌĞŶƚ>ŝĂďŝůŝƟĞƐ ϯ͕ϰϬϭ͘Ϯϱ ϰ͕ϭϭϬ͘ϭϲ

ΎdŚĞƌĞŝƐŶŽĂŵŽƵŶƚĚƵĞĂŶĚŽƵƚƐƚĂŶĚŝŶŐƚŽďĞĐƌĞĚŝƚĞĚƚŽ/ŶǀĞƐƚŽƌĚƵĐĂƟŽŶĂŶĚWƌŽƚĞĐƟŽŶ&ƵŶĚ ΎΎ/Ŷ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ĐĐŽƵŶƟŶŐ ^ƚĂŶĚĂƌĚ ;^ͲϮϵͿ ͚WƌŽǀŝƐŝŽŶƐ͕ ŽŶƟŶŐĞŶƚ >ŝĂďŝůŝƟĞƐ ĂŶĚ ŽŶƟŶŐĞŶƚ ƐƐĞƚƐ͛ ĂŶĚ ďĂƐĞĚ ŽŶ ŵĂŶĂŐĞŵĞŶƚ ĂƐƐĞƐƐŵĞŶƚ͕ ƚŚĞ ŽŵƉĂŶLJ ŚĂĚ ŵĂĚĞ Ă ƉƌŽǀŝƐŝŽŶ ĨŽƌ ĐŽŶƟŶŐĞŶĐŝĞƐ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ĚƵƟĞƐ ĂŶĚ ƚĂdžĞƐ ƉĂLJĂďůĞ ƵŶĚĞƌ ǀĂƌŝŽƵƐůĂǁƐ͘ƚƚŚĞďĞŐŝŶŶŝŶŐŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͕ƚŚĞƌĞǁĂƐĂŶŽƵƚƐƚĂŶĚŝŶŐƉƌŽǀŝƐŝŽŶŽĨ`ϭϱϲ͘ϬϮĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭϱϲ͘ϬϮ ĐƌŽƌĞͿŝŶĐůƵĚĞĚŝŶ͚KƚŚĞƌWĂLJĂďůĞƐ͛ǁŝƚŚŶŽƉƌŽǀŝƐŝŽŶͬƵƟůŝƐĂƟŽŶ͕ĂƚƚŚĞĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͕ƚŚĞƌĞŝƐĂŶŽƵƚƐƚĂŶĚŝŶŐƉƌŽǀŝƐŝŽŶŽĨ `ϭϱϲ͘ϬϮĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭϱϲ͘ϬϮĐƌŽƌĞͿ͘

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 11. ^,KZdͳdZDWZKs/^/KE^ a) WƌŽǀŝƐŝŽŶĨŽƌŵƉůŽLJĞĞĞŶĞĮƚƐ >ĞĂǀĞŶĐĂƐŚŵĞŶƚ ϲϮ͘Ϯϲ ϱϮ͘ϲϯ ϲϮ͘Ϯϲ ϱϮ͘ϲϯ b) Other Provisions WƌŽǀŝƐŝŽŶ&ŽƌdĂdžĂƟŽŶͲ/ŶĐŽŵĞdĂdž ϰ͕ϲϲϳ͘ϱϰ ϯ͕ϵϬϱ͘ϭϱ WƌŽǀŝƐŝŽŶ&ŽƌdĂdžĂƟŽŶͲtĞĂůƚŚdĂdž ϭ͘ϭϭ Ϭ͘ϴϭ WƌŽƉŽƐĞĚŝǀŝĚĞŶĚ ϭϰϵ͘ϱϳ ϭϰϵ͘ϱϳ ŽƌƉŽƌĂƚĞdĂdžKŶŝǀŝĚĞŶĚ ϯ͘ϯϮ ϯ͘ϭϳ ϰ͕ϴϮϭ͘ϱϰ ϰ͕Ϭϱϴ͘ϳϬ Total Short-term Provisions ϰ͕ϴϴϯ͘ϴϬ ϰ͕ϭϭϭ͘ϯϯ

215 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϮϬϭϮ ϮϬϭϮ 31.39 in Crore) in Crore) ` ` ( ( ϯϭƐƚDĂƌĐŚ͕ ϯϭƐƚDĂƌĐŚ͕ ĂůĂŶĐĞĂƐĂƚ ĂůĂŶĐĞĂƐĂƚ

͘ϵϱ ϱϵ͘ϯϭ ϮϬϭϯ Ϭ͘ϰϵ Ϭ͘ϭϰ ϮϬϭϯ ͕ϬϴϮ͘ϴϰ ϭϯ͕ϰϳϮ͘Ϭϱ Ϯϯϰ͘ϰϭ Ϯϭϵ͘ϴϲ Net Carrying Value Carrying Value Net Net Carrying Value Carrying Value Net ϯϭƐƚDĂƌĐŚ͕ ϯϭƐƚDĂƌĐŚ͕ ĂůĂŶĐĞĂƐĂƚ ĂůĂŶĐĞĂƐĂƚ

ϮϬϭϯ Ϭ͘ϭϴ Ϭ͘ϲϲ Ϭ͘ϴϯ ϮϬϭϯ ϭϴ͘ϯϮ ϭϵ͘ϰϮ Ϯϭ͘ϰϵ ϱϬ͘ϱϲ Ϭ͘ϬϮ ϵ͘Ϭϳ ϲϵ͘Ϭϲ ϮϬ͘ϭϬ ϮϮ͘ϴϵ ϰϴϴ͘ϮϬ ϰϬϮ͘ϲϵ ϱϮϭ͘ϰϲ Ϯ͕ϵϮϬ͘ϵϭ Ϯ͕ϯϭϮ͘ϲϮ ϳ͕ϰϮϴ͘ϱϰ ϭϵ͕Ϯϳϰ͘ϲϱ ϭϲ͕ϰϵϰ͘ϬϮ ϳ͕ϯϱϵ͘ϰϴ ϭϵ͕Ϯϱϰ͘ϱϱ ϭϲ͕ϰϲϮ͘ϲϯ ϯϭƐƚDĂƌĐŚ͕ ϯϭƐƚDĂƌĐŚ͕ ĂůĂŶĐĞĂƐĂƚ ĂůĂŶĐĞĂƐĂƚ - - - - - ϰ ϭϯϬ͘ϱϰ ϭϯϯ͘ϯϱ ϭϮϳ͘ϭϴ Ϭϱ ϮϮ͘Ϭϵ ϱϭ͘ϱϳ ϰϯ͘Ϭϲ 19.71 Other 19.71 Other Adjustments Adjustments Adjustments Adjustments ϭϵ ϰ͘ϯϬ ϭϮϴ͘ϯϮ ϳϴϳ͘ϭϬ ϳϲϴ͘ϲϳ ͘ϱϵ ϯ͘ϭϱ Ϯϵ͘Ϯϰ ϱ͕ϴϯϲ͘Ϭϯ ϭϲ͕ϰϵϰ͘ϬϮ ϭϰ͕ϴϰϯ͘ϱϭ Ϭ͘Ϭϲ Ϯϵ͘Ϯϰ ϱ͕ϳϵϬ͘ϲϬ ϭϲ͕ϰϲϮ͘ϲϯ ϭϰ͕ϴϭϬ͘ϲϵ ŵŽƌƟƐĂƟŽŶ ĞƉƌĞĐŝĂƟŽŶ Ϯϯ͘ϲϯ period for the for period for the for ŵŽƌƟƐĂƟŽŶ ĞƉƌĞĐŝĂƟŽŶ

------ϲ͘Ϭϯ ϭ͕ϲϭϮ͘ϮϮ ϮϬϭϮ ϮϬϭϮ 45.43 ϭƐƚƉƌŝů͕ ĂůĂŶĐĞĂƐ ĂƚϭƐƚƉƌŝů͕ ĂůĂŶĐĞĂƐĂƚ

ϴ ϱ͕Ϭϵϰ͘Ϭϴ ϭ͕ϯϰϳ͘ϯϭ Ϭ͘ϴϳ ϲ͕ϰϰϬ͘ϱϮ ϭϰ͕ϯϳϵ͘ϰϲ ϭϮ͕ϯϬϰ͘Ϭϲ Ϭ͘ϴϰ Ϭ͘Ϭϭ Ϭ͘ϭϳ ϮϬϭϯ Ϭ͘ϰϵ ϮϬϭϯ ϳϲ͘ϴϮ ϯϮ͘ϯϰ ϭϯ͘Ϭϵ ϰϱ͘ϰϯ ϯϭ͘ϯϵ ϯϮ͘ϴϮ ϱϬ͘ϱϴ ϯϰ͘ϴϱ ϭϱ͘ϳϭ ϴϵ͘ϭϲ Ϯϱϲ͘ϬϮ ϲϬ͘ϭϰ ϭϱ͘ϴϮ ϭϮ͘Ϭϱ ϲϯ͘ϵϭ ϭϵϮ͘ϭϭ ϮϮϱ͘Ϭϰ ϯϭƐƚDĂƌĐŚ͕ ϯϭƐƚDĂƌĐŚ͕ ĂůĂŶĐĞĂƐĂƚ ĂůĂŶĐĞĂƐĂƚ - ;ϴ͘ϴϭͿ ϯϳ͘ϳϰ ϭϬ͘ϱϳ ϳ͘ϳϱ Other ;Ϭ͘ϬϯͿ ϱϭϭ͘Ϭϵ ϭϲ͘ϲϵ ϲ͘ϮϬ Other Adjustments Adjustments Adjustments ------(8.81) ŐĂůůŽĐĂƟŽŶͬĐĂƉŝƚĂůŝƐĂƟŽŶĂŶĚĐĂƉŝƚĂůŐŽŽĚƐůLJŝŶŐŝŶƐƚŽƌĞƐͿ ϭϴ Ϯϵ͘ϭϲ Disposals/ Disposals/ Adjustments Adjustments Adjustments Adjustments Gross Carrying Value Carrying Value Gross Gross Carrying Value Carrying Value Gross - - - - ĚĚŝƟŽŶƐ ĚĚŝƟŽŶƐ

ϮϬϭϮ Ϭ͘ϭϰ Ϭ͘ϯϱ ϮϬϭϮ ϯϮ͘Ϭϲ ϭϰ͘ϰϵ ϰϯ͘ϵϮ ϲ͘ϲϲ ϳϲ͘ϴϮ Ϯϭ͘ϭϱ ϴϯ͘ϳϳ ϭϰ͘ϭϰ Ϭ͘ϭϱ ;ϭ͘ϬϲͿ ϵϲ͘ϳϬ Ϯϰ͘ϰϲ ϱ͘ϯϳ Ϭ͘Ϭϴ Ϯϵ͘ϳϱ ϲϲ Ϯϭϵ͘ϴϲ ϭϱ͘ϴϳ ϭ͘ϭϳ ;Ϭ͘ϭϱͿ Ϯϯϰ͘ϰϭ ϰϭϵ͘ϯϴ ϵϭ͘ϳϰ Ϯ͕ϳϬϱ͘ϲϱ ϲϵϵ͘ϯϮ Ϭ͘ϯϬ ϯϳ͘ϳϬ ϯ͕ϰϰϮ͘ϯϳ ϯϵϯ͘Ϭϯ ϭϮϴ͘ϰϱ Ϭ͘ϬϮ ϭϵ͕Ϯϳϱ͘ϲϯ Ϯ͕ϴϯϯ͘ϮϮ ϭϬϱ͘ϭϭ ϯϮϲ͘ϯϭ ϮϮ͕ϯϯϬ͘Ϭϱ ϰ͕ϰϯϮ͘ϭϮ ϭ͕ϰϯ ϮϮ͕Ϯϱϯ͘Ϯϯ ϰ͕ϬϬϲ͘ϲϳ ϯϴ͘Ϯϰ ϯϵϮ͘ϯϳ Ϯϲ͕ϲϭϰ͘Ϭϯ ϱ͕ϳϵϬ͘ϲϬ ϭ͕ϱϴϴ ϭϵ͕ϮϭϬ͘ϰϳ Ϯ͕ϴϮϭ͘ϱϲ ϭϬϱ͘ϭϭ ϯϮϲ͘ϯϭ ϮϮ͕Ϯϱϯ͘Ϯϯ ϰ͕ϯϵϵ͘ϳϴ ϭ͕ϰϮ ĂƚϭƐƚƉƌŝů͕ ĂƚϭƐƚƉƌŝů͕ FIXED ASSETS FIXED Tangible Assets Tangible Land Freehold WůĂŶƚĂŶĚƋƵŝƉŵĞŶƚ ϭϳ͕ϯϵϴ͘ϭϰ ϯ͕Ϭϲϰ͘ϵϳ ϭ͘ϰϬ ϯϱϴ͘Ϯϳ ϮϬ͕ϴϭϵ͘ϵ Land Leasehold Live Stock Live Buildings ůĞĐƚƌŝĐĂů&ŝƫŶŐƐ ϴϰϵ͘ϭϬ ϲϱ͘ϵϲ Ϭ͘Ϭϯ Ϭ͘ϯϵ ϵϭϱ͘ϰϮ ϴϬ͘ϰϯ ϱϮ͘ Furniture and Fixtures Furniture sĞŚŝĐůĞƐ ϮϯϮ͘ϰϴ ϯϵ͘ϳϳ ϱ͘ϲϬ ;Ϯ͘ϳϲͿ Ϯϲϯ͘ϴϵ ϭϬϱ͘ϯϬ Ϯϳ͘ϱϴ Ϯ͘ϯ ŝƌƌĂŌ;KǁŶĞĚͿ Ϯϴϱ͘ϭϴ KĸĐĞĞƋƵŝƉŵĞŶƚ ϱϵ͘ϱϯ ϭϰ͘ϱϱ Ϭ͘ϰϯ Ϭ͘Ϭϭ ϳϯ͘ϲϲ ϭϲ͘ϰϳ ϱ͘ϲϳ Ϭ͘ Previous Year Previous Total Total Intangible Assets Intangible ŽŵƉƵƚĞƌƐŽŌǁĂƌĞͲŽƵŐŚƚ out ^ĞƌǀŝĐĞƐĂŶĚŽƉĞƌĂƟŶŐ rights WƌĞǀŝŽƵƐzĞĂƌ ϲϱ͘ϭϲ ϭϭ͘ϲϲ Total Total ĞƐŝŐŶƐĂŶĚĚƌĂǁŝŶŐƐ Ϭ͘ϴϰ dŽƚĂůůŽĐŬ Year Previous ϮϮ͕ϯϯϬ͘Ϭϱ ϰ͕ϬϮϳ͘ϴϮ ϯϴ͘Ϯϰ ϯϴϯ͘ϱϲ Ϯϲ͕ϳϬϯ͘ϭϵ ϱ͕ϴϯ WĂƌƟĐƵůĂƌƐ ĂůĂŶĐĞĂƐ W/d>tKZ</EWZK'Z^^;/ŶĐůƵĚŝŶŐƉƌĞͲŽƉĞƌĂƟǀĞĞdžƉĞŶƐĞƐƉĞŶĚŝŶ ϭϮ͘ WĂƌƟĐƵůĂƌƐ ĂůĂŶĐĞĂƐ

216 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

EŽƚĞƐ͗ a) ^ƚĂƚĞŵĞŶƚ^ŚŽǁŝŶŐƚŚĞĚĞƚĂŝůƐŽĨWƌĞͲŽƉĞƌĂƟǀĞdžƉĞŶĚŝƚƵƌĞĂƐŽŶϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ (` in Crore) Total ĞƐĐƌŝƉƟŽŶ ϮϬϭϮͲϭϯ ϮϬϭϭͲϭϮ ŵŽƵŶƚďƌŽƵŐŚƚĨŽƌǁĂƌĚĨƌŽŵůĂƐƚLJĞĂƌ ϭ͕ϰϵϮ͘ϳϲ ϭ͕Ϭϵϱ͘ϵϲ ĚĚ͗džƉĞŶƐĞƐĚƵƌŝŶŐƚŚĞzĞĂƌ WĞƌƐŽŶŶĞůdžƉĞŶƐĞƐ ϭϳϵ͘ϯϳ ϭϮϳ͘Ϯϴ Consultancy Charges ϰϰ͘Ϯϳ ϴϳ͘ϳϵ &ŝŶĂŶĐŝĂůdžƉĞŶƐĞƐ Ϯϵ͘ϯϭ ϭϮϬ͘ϵϱ &ŽƌĞŝŐŶdžĐŚĂŶŐĞ&ůƵĐƚƵĂƟŽŶƐ ϭϭ͘ϴϴ ϯϰ͘Ϭϭ ĞƉƌĞĐŝĂƟŽŶ ϰϳ͘ϯϵ Ϯϰ͘ϱϮ džƉĞŶƐĞƐƌĞůĂƚĞĚƚŽŵŝŶŝŶŐΘdžƉůŽƌĂƟŽŶ - - DŝƐĐĞůůĂŶĞŽƵƐdžƉĞŶƐĞƐ ϮϬϮ͘Ϯϱ ϭϳϬ͘ϴϲ Ϯ͕ϬϬϳ͘Ϯϯ ϭ͕ϲϲϭ͘ϯϳ >ĞƐƐ͗ĂƉŝƚĂůŝƐĞĚĂƐƉĂƌƚŽĨ Plant & machinery Ϯϰϱ͘Ϯϵ ϭϱϰ͘ϱϯ Building Ϯϳ͘ϱϮ ϭϬ͘ϯϳ KƚŚĞƌĮdžĞĚĂƐƐĞƚƐ Ϯ͘Ϯϴ ϯ͘ϳϭ ŵŽƵŶƚĐĂƌƌŝĞĚĨŽƌǁĂƌĚŝŶt/W ϭ͕ϳϯϮ͘ϭϰ ϭ͕ϰϵϮ͘ϳϲ

ĞƉƌĞĐŝĂƟŽŶĚƵƌŝŶŐƚŚĞLJĞĂƌŝŶĐůƵĚĞƐ`ϰϳ͘ϯϵĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ` Ϯϰ͘ϱϮĐƌŽƌĞͿƚƌĂŶƐĨĞƌƌĞĚƚŽƉƌĞͲŽƉĞƌĂƟǀĞĞdžƉĞŶƐĞƐ͘ b) Freehold land includes `ϱ͘ϴϱĐƌŽƌĞũŽŝŶƚůLJŽǁŶĞĚǁŝƚŚƚŚĞŽŵƉĂŶLJǁŝƚŚϱϬйƐŚĂƌĞĂŶĚƉĞŶĚŝŶŐƌĞŐŝƐƚƌĂƟŽŶ͘  c) Capital Work in Progress includes ` ϭ͕ϳϯϮ͘ϭϰ ĐƌŽƌĞ ;WƌĞǀŝŽƵƐ LJĞĂƌ ` ϭ͕ϰϵϮ͘ϳϲ ĐƌŽƌĞͿ ďĞŝŶŐ WƌĞͲŽƉĞƌĂƟǀĞ džƉĞŶĚŝƚƵƌĞ ĂŶĚ `ϱϴϱ͘ϮϮĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ` ϭ͕Ϭϳϵ͘ϰϬĐƌŽƌĞͿĂƉŝƚĂůƐƚŽƌĞƐ͘ ĚͿ ĚĚŝƟŽŶƚŽ&ŝdžĞĚƐƐĞƚƐŝŶĐůƵĚĞƐ`ϭϭ͘ϭϬĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϰ͘ϴϰĐƌŽƌĞͿĂŶĚĂĚĚŝƟŽŶƚŽĂƉŝƚĂůtŽƌŬŝŶWƌŽŐƌĞƐƐŝŶĐůƵĚĞƐ`ϯ͘Ϯϰ crore (Previous year `Ϭ͘ϰϴĐƌŽƌĞͿďĞŝŶŐĞdžƉĞŶĚŝƚƵƌĞŝŶĐƵƌƌĞĚŽŶZĞƐĞĂƌĐŚΘĞǀĞůŽƉŵĞŶƚĐƟǀŝƟĞƐ͘dŚĞĂƉŝƚĂůtŽƌŬŝŶWƌŽŐƌĞƐƐ accumulated balance as on 31st March, 2013 is `ϰ͘ϬϱĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`Ϭ͘ϴϰĐƌŽƌĞͿ͘ĚũƵƐƚŵĞŶƚƐŝŶĐůƵĚĞ`ϭ͘ϴϮĐƌŽƌĞŽĨ ĂƐƐĞƚĞĂƌůŝĞƌƵƐĞĚĨŽƌZΘĂĐƟǀŝƟĞƐŶŽǁƚƌĂŶƐĨĞƌĞĚƚŽŽƚŚĞƌƵŶŝƚƐ͘ ĞͿ ĚĚŝƟŽŶƐͬ;ĚũƵƐƚŵĞŶƚƐͿƚŽWůĂŶƚĂŶĚDĂĐŚŝŶĞƌLJͬĂƉŝƚĂůǁŽƌŬͲŝŶͲƉƌŽŐƌĞƐƐŝŶĐůƵĚĞƐĂĚĚŝƟŽŶŽĨ`ϭϯϬ͘ϬϬĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ ĂĚĚŝƟŽŶŽĨ`ϯϯϮ͘ϮϮĐƌŽƌĞͿŽŶĂĐĐŽƵŶƚŽĨĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞŇƵĐƚƵĂƟŽŶŽŶůŽŶŐͲƚĞƌŵůŝĂďŝůŝƟĞƐƌĞůĂƟŶŐƚŽĂĐƋƵŝƐŝƟŽŶŽĨ&ŝdžĞĚ ƐƐĞƚƐƉƵƌƐƵĂŶƚƚŽƚŚĞŶŽƟĮĐĂƟŽŶƐŝƐƐƵĞĚďLJƚŚĞDŝŶŝƐƚƌLJŽĨŽƌƉŽƌĂƚĞīĂŝƌƐƌĞůĂƟŶŐƚŽĐĐŽƵŶƟŶŐ^ƚĂŶĚĂƌĚ;^ͲϭϭͿ͚dŚĞ īĞĐƚƐŽĨŚĂŶŐĞƐŝŶ&ŽƌĞŝŐŶdžĐŚĂŶŐĞZĂƚĞƐ͛͘ f) Borrowing cost incurred during the year and capitalised is `ϭϰϳ͘ϱϴĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϱϬ͘ϰϴĐƌŽƌĞͿ͘ŽƌƌŽǁŝŶŐĐŽƐƚŝŶĐƵƌƌĞĚ during the year and transferred to Capital Work in Progress is `ϰϮϵ͘ϯϭĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϯϳϮ͘ϯϯĐƌŽƌĞͿ͘ ŐͿ /ŶĂƐƵďƐŝĚŝĂƌLJ͕ĚĞƉƌĞĐŝĂƟŽŶŽŶŽĂů,ĂŶĚůŝŶŐWůĂŶƚĂŵŽƵŶƟŶŐƚŽ`Ϯϱ͘ϲϭĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϮϮ͘ϭϳĐƌŽƌĞͿŚĂƐďĞĞŶĐŽŶƐŝĚĞƌĞĚ ƐĞƉĂƌĂƚĞůLJŝŶƚŚĞ^ƚĂƚĞŵĞŶƚŽĨƉƌŽĮƚΘůŽƐƐ͘ ŚͿ džƉĞŶĚŝƚƵƌĞĚƵƌŝŶŐdƌŝĂůZƵŶƉĞƌŝŽĚŚĂƐďĞĞŶĐĂƉŝƚĂůŝƐĞĚͬĚĞĐĂƉŝƚĂŝƐĞĚĂƐ&ŝdžĞĚƐƐĞƚƐĂƐƵŶĚĞƌ

217 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) Total ĞƐĐƌŝƉƟŽŶ Current Year Previous Year Income Sales ϯϲ͘ϬϮ ϯϬ͘ϴϲ /ŶĐƌĞĂƐĞͬ;ĚĞĐƌĞĂƐĞͿŝŶƐƚŽĐŬ - - dŽƚĂů/ŶĐŽŵĞ;Ϳ ϯϲ͘ϬϮ ϯϬ͘ϴϲ >ĞƐƐ͗džƉĞŶĚŝƚƵƌĞ Raw materials consumed ϭϳ͘ϱϴ - Power & fuel Ϯϳ͘ϲϱ ϭϭ͘ϵϰ Personnel expenses ϭ͘ϰϳ Ϭ͘ϰϬ Stores & spare parts consumed Ϭ͘ϮϮ ϭ͘ϭϰ Repairs & maintenance - Ϭ͘ϬϮ Others Ϭ͘Ϯϭ Ϭ͘ϭϲ Total Expenditure (B) 47.13 ϭϯ͘ϲϲ ;ͲͿWƌŽĮƚͬ;>ŽƐƐͿĚƵƌŝŶŐƚƌŝĂůƌƵŶƉĞƌŝŽĚĚƵƌŝŶŐƚŚĞĐƵƌƌĞŶƚĮŶĂŶĐŝĂůLJĞĂƌ ;ϭϭ͘ϭϭͿ ϭϳ͘ϮϬ Total (11.11) ϭϳ͘ϮϬ ĞĐĂƉŝƚĂůŝƐĞĚͬĐĂƉŝƚĂůŝƐĞĚǁŝƚŚƚŚĞĐŽƐƚŽĨĮdžĞĚĂƐƐĞƚƐ ;ϭϭ͘ϭϭͿ ϭϳ͘ϮϬ

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 13. EKEͳhZZEd/Es^dDEd^ i) Trade Investments A) YƵŽƚĞĚ&ƵůůLJWĂŝĚͲhƉƋƵŝƚLJ^ŚĂƌĞƐŽĨƐƐŽĐŝĂƚĞŽŵƉĂŶŝĞƐ i) 'ƵũĂƌĂƚEZŽŬŝŶŐŽĂů>ŝŵŝƚĞĚ ϰϲϴ͘Ϭϳ - ϰϯ͕ϯϯ͕ϭϯ͕ϴϳϮ;WƌĞǀŝŽƵƐLJĞĂƌ͞E/>͟ͿĨƵůůLJƉĂŝĚKƌĚŝŶĂƌLJ Shares ĚĚͬ;>ĞƐƐͿ͗^ŚĂƌĞŝŶWƌŽĮƚͬ;>ŽƐƐͿͲWƌŝŽƌLJĞĂƌƐ - - ĚĚͬ;>ĞƐƐͿ͗^ŚĂƌĞŝŶWƌŽĮƚͬ;>ŽƐƐͿͲƵƌƌĞŶƚLJĞĂƌ ϰ͘ϲϵ - B) Others Quoted Equity Shares i) ,ǁĂŶŐĞŽůůŝĞƌLJ Ϭ͘ϰϳ Ϭ͘ϰϳ ϰ͕ϰϬ͕ϲϴϬ;WƌĞǀŝŽƵƐLJĞĂƌϰ͕ϰϬ͕ϲϴϬͿĨƵůůLJƉĂŝĚKƌĚŝŶĂƌLJ^ŚĂƌĞƐ ii) ZŽĐŬůĂŶĚƐZŝĐŚĮĞůĚƐ>ŝŵŝƚĞĚ - ϭϱϯ͘ϲϰ E/>;WƌĞǀŝŽƵƐLJĞĂƌϵ͕ϴϮ͕ϴϵ͕ϵϰϰͿĨƵůůLJƉĂŝĚKƌĚŝŶĂƌLJ^ŚĂƌĞƐ iii) Carabella Resources Limited ϭϰ͘ϯϵ - ϲϲ͕ϵϴ͕ϰϬϭ;WƌĞǀŝŽƵƐLJĞĂƌ͞E/>͟ͿĨƵůůLJƉĂŝĚKƌĚŝŶĂƌLJ^ŚĂƌĞƐ vi) ĨƌŝĐĂŶŶĞƌŐLJZĞƐŽƵƌĐĞƐ>ŝŵŝƚĞĚ Ϭ͘Ϭϴ - 1,00,000 (Previous year “NIL” ) fully paid Ordinary Shares v) ǀŝǀĂŽƌƉŽƌĂƟŽŶ>ŝŵŝƚĞĚ Ϭ͘Ϭϴ - 1,00,000 (Previous year “NIL” ) fully paid Ordinary Shares vi) ,ŽĚŐĞƐZĞƐŽƵƌĐĞƐ>ŝŵŝƚĞĚ Ϭ͘Ϭϴ - 1,00,000 (Previous year “NIL” ) fully paid Ordinary Shares vii) Nimrodel Resources Limited Ϭ͘Ϭϭ - 1,00,000 (Previous year “NIL” ) fully paid Ordinary Shares viii) Apollo Minerals Limited ϳ͘ϴϱ - ϯ͕ϱϬ͕ϬϬ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌ͞E/>͟ͿĨƵůůLJƉĂŝĚKƌĚŝŶĂƌLJ^ŚĂƌĞƐ dŽƚĂůEŽŶͲĐƵƌƌĞŶƚdƌĂĚĞ/ŶǀĞƐƚŵĞŶƚ ϰϵϱ͘ϳϮ 154.11

218 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 13. EKEͳhZZEd/Es^dDEd^ΈKEd͘Ή ii) Other Investments A) hŶƋƵŽƚĞĚ&ƵůůLJWĂŝĚͲhƉƋƵŝƚLJ^ŚĂƌĞƐŽĨƐƐŽĐŝĂƚĞŽŵƉĂŶŝĞƐ i) &ƵůůLJƉĂŝĚƵƉƋƵŝƚLJ^ŚĂƌĞƐŽĨŶŐƵů^ƵŬŝŶĚĂZĂŝůǁĂLJ>ŝŵŝƚĞĚ Ϭ͘Ϭϯ Ϭ͘Ϭϯ Ϯϱ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϮϱ͕ϬϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ` 10 each ĚĚͬ;>ĞƐƐͿ͗^ŚĂƌĞŝŶWƌŽĮƚͬ;>ŽƐƐͿͲWƌŝŽƌLJĞĂƌƐ - - ĚĚͬ;>ĞƐƐͿ͗^ŚĂƌĞŝŶWƌŽĮƚͬ;>ŽƐƐͿͲƵƌƌĞŶƚLJĞĂƌ - - ii) &ƵůůLJƉĂŝĚƵƉƋƵŝƚLJ^ŚĂƌĞƐŽĨ:/ŶĨƌĂWƌŝǀĂƚĞ>ŝŵŝƚĞĚ Ϭ͘ϵϴ Ϭ͘ϬϬ ϵ͕ϴϬ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϰ͕ϵϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ` 10 each ĚĚͬ;>ĞƐƐͿ͗^ŚĂƌĞŝŶWƌŽĮƚͬ;>ŽƐƐͿͲWƌŝŽƌLJĞĂƌƐ ;Ϭ͘ϮϬͿ - ĚĚͬ;>ĞƐƐͿ͗^ŚĂƌĞŝŶWƌŽĮƚͬ;>ŽƐƐͿͲƵƌƌĞŶƚLJĞĂƌ Ϭ͘ϲϲ ;Ϭ͘ϮϬͿ iii) &ƵůůLJƉĂŝĚƵƉƋƵŝƚLJ^ŚĂƌĞƐŽĨEĂůǁĂ^ƚĞĞůΘWŽǁĞƌ>ŝŵŝƚĞĚ Ϯ͘ϬϬ Ϯ͘ϬϬ ϮϬ͕ϬϬ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϮϬ͕ϬϬ͕ϬϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ` 10 each ĚĚͬ;>ĞƐƐͿ͗^ŚĂƌĞŝŶWƌŽĮƚͬ;>ŽƐƐͿͲWƌŝŽƌLJĞĂƌƐ ϭϳϲ͘ϵϳ ϭϱϲ͘ϳϰ ĚĚͬ;>ĞƐƐͿ͗^ŚĂƌĞŝŶWƌŽĮƚͬ;>ŽƐƐͿͲƵƌƌĞŶƚLJĞĂƌ ϯϰ͘ϲϴ ϮϬ͘Ϯϯ iv) Panacore shiping pte Ltd , Singapore Ϭ͘ϬϬ - ϰϬ;WƌĞǀŝŽƵƐzĞĂƌE/>ͿĨƵůůLJƉĂŝĚKƌĚŝŶĂƌLJ^ŚĂƌĞƐ ĚĚͬ;>ĞƐƐͿ͗^ŚĂƌĞŝŶWƌŽĮƚͬ;>ŽƐƐͿͲWƌŝŽƌLJĞĂƌƐ - - ĚĚͬ;>ĞƐƐͿ͗^ŚĂƌĞŝŶWƌŽĮƚͬ;>ŽƐƐͿͲƵƌƌĞŶƚLJĞĂƌ Ϭ͘ϭϳ - v) Koleko Resources Ϭ͘ϲϰ - ϯϰϬ;WƌĞǀŝŽƵƐzĞĂƌE/>ͿĨƵůůLJƉĂŝĚKƌĚŝŶĂƌLJ^ŚĂƌĞƐ ĚĚͬ;>ĞƐƐͿ͗^ŚĂƌĞŝŶWƌŽĮƚͬ;>ŽƐƐͿͲWƌŝŽƌLJĞĂƌƐ - - ĚĚͬ;>ĞƐƐͿ͗^ŚĂƌĞŝŶWƌŽĮƚͬ;>ŽƐƐͿͲƵƌƌĞŶƚLJĞĂƌ - - vi) Prodisyne (pty) Ltd ϭ͘Ϯϭ - ϱϬ;WƌĞǀŝŽƵƐzĞĂƌE/>ͿĨƵůůLJƉĂŝĚKƌĚŝŶĂƌLJ^ŚĂƌĞƐ ĚĚͬ;>ĞƐƐͿ͗^ŚĂƌĞŝŶWƌŽĮƚͬ;>ŽƐƐͿͲWƌŝŽƌLJĞĂƌƐ - - ĚĚͬ;>ĞƐƐͿ͗^ŚĂƌĞŝŶWƌŽĮƚͬ;>ŽƐƐͿͲƵƌƌĞŶƚLJĞĂƌ - - Ϯϭϳ͘ϭϰ ϭϳϴ͘ϴϬ B) hŶƋƵŽƚĞĚWĂƌƚůLJWĂŝĚͲhƉƋƵŝƚLJ^ŚĂƌĞƐŽĨƐƐŽĐŝĂƚĞŽŵƉĂŶŝĞƐ i) Angul Sukinda Railway Limited ϯϭ͘ϳϭ - ϭϬ͕ϰϵ͕ϳϱ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌE/>ͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ` 10 each, `ϯ͘ϬϮƉĂŝĚƵƉ ĚĚͬ;>ĞƐƐͿ͗^ŚĂƌĞŝŶWƌŽĮƚͬ;>ŽƐƐͿͲWƌŝŽƌLJĞĂƌƐ - - ĚĚͬ;>ĞƐƐͿ͗^ŚĂƌĞŝŶWƌŽĮƚͬ;>ŽƐƐͿͲƵƌƌĞŶƚLJĞĂƌ - - 31.71 - C) hŶƋƵŽƚĞĚ/ŶǀĞƐƚŵĞŶƚ/Ŷ'ŽǀĞƌŶŵĞŶƚĂŶĚdƌƵƐƚ^ĞĐƵƌŝƟĞƐ EĂƟŽŶĂů^ĂǀŝŶŐĞƌƟĮĐĂƚĞƐΎ Ϭ͘Ϭϲ Ϭ͘Ϭϲ 6,10,000 (Previous year ` 6,10,000) Ύ΀WůĞĚŐĞĚǁŝƚŚ'ŽǀĞƌŶŵĞŶƚĚĞƉĂƌƚŵĞŶƚƐ`Ϭ͘ϬϲĐƌŽƌĞ;WƌĞǀŝŽƵƐ Ϭ͘Ϭϲ Ϭ͘Ϭϲ year `Ϭ͘ϬϲĐƌŽƌĞͿ΁ D) Investment In Bonds ϴ͘ϭϱй///ͲϮϬϭϲŽŶĚ Ϭ͘ϱϬ Ϭ͘ϱϬ ϱ;WƌĞǀŝŽƵƐLJĞĂƌϱͿhŶŝƚƐŽĨ` 10,00,000 each Ϭ͘ϱϬ Ϭ͘ϱϬ E) Unquoted Fully Paid Up Equity Shares Brahamputra Capital and Finance Limited ϭϵ͘ϮϬ ϭϵ͘ϮϬ ϭ͕ϵϮ͕ϬϬ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϭ͕ϵϮ͕ϬϬ͕ϬϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ` 10 each /ŶĚŝĂŶŶĞƌŐLJdžĐŚĂŶŐĞ>ŝŵŝƚĞĚ ϭ͘Ϯϱ ϭ͘Ϯϱ

219 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 13. EKEͳhZZEd/Es^dDEd^ΈKEd͘Ή ϭϮ͕ϱϬ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϭϮ͕ϱϬ͕ϬϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ` 10 each :ŝŶĚĂů,ŽůĚŝŶŐ>ŝŵŝƚĞĚ ϭϰ͘ϰϴ ϭϰ͘ϰϴ Ϯϰ͕ϭϰ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϮϰ͕ϭϰ͕ϬϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ` 10 each Jindal Petroleum Limited Ϭ͘Ϭϱ Ϭ͘Ϭϱ ϰϵ͕ϰϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϰϵ͕ϰϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ` 10 each :ŝŶĚĂůZĞdždžƉůŽƌĂƟŽŶWƌŝǀĂƚĞ>ŝŵŝƚĞĚ Ϭ͘Ϭϭ Ϭ͘Ϭϭ ϵ͕ϴϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϵ͕ϴϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ` 10 each Stainless Investments Limited ϲ͘Ϭϱ ϲ͘Ϭϱ ϭϮ͕ϰϮ͕ϬϬϬ;WƌĞǀŝŽƵƐLJĞĂƌϭϮ͕ϰϮ͕ϬϬϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ` 10 each Sungu-Sungu (Pty) Limited ϮϮ͘ϱϯ ϯ͘ϱϴ ϯϯϬ;WƌĞǀŝŽƵƐzĞĂƌϱϬͿĨƵůůLJƉĂŝĚKƌĚŝŶĂƌLJ^ŚĂƌĞƐ Synergy Infrastructure Private Limited Ϭ͘Ϭϭ Ϭ͘Ϭϭ ϵϲϬ;WƌĞǀŝŽƵƐzĞĂƌϵϲϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ` 100 each yͲŽŶĞ^E, Ϭ͘Ϭϰ Ϭ͘Ϭϰ ϯϲ͕ϮϱϬ;WƌĞǀŝŽƵƐLJĞĂƌϯϲ͕ϮϱϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨDĂůĂLJƐŝĂŶZŝŶŐŐŝƚϭĞĂĐŚ :ŝŶĚĂů/ŶĨŽƐŽůƵƟŽŶƐ>ŝŵŝƚĞĚ Ϭ͘ϭϬ - ϵϱ͕ϬϬϬ;WƌĞǀŝŽƵƐzĞĂƌϮϰ͕ϳϱϬͿƋƵŝƚLJ^ŚĂƌĞƐŽĨ` 10 each ϲϯ͘ϳϮ ϰϰ͘ϲϳ F) KƚŚĞƌ/ŶǀĞƐƚŵĞŶƚƐ;>ŝĐĞŶĐĞƐΘdĞůĞĐŽŵ^ŽĐŝĞƚLJͿ Ϭ͘Ϭϭ Ϭ͘Ϭϭ G) >ĞƐƐ͗WƌŽǀŝƐŝŽŶĨŽƌŝŵŝŶƵƟŽŶŽĨ/ŶǀĞƐƚŵĞŶƚƐ - ;Ϭ͘ϱϯͿ dŽƚĂůEŽŶͲĐƵƌƌĞŶƚKƚŚĞƌ/ŶǀĞƐƚŵĞŶƚ 313.14 ϮϮϯ͘ϱϭ dŽƚĂůEŽŶͲĐƵƌƌĞŶƚ/ŶǀĞƐƚŵĞŶƚ ϴϬϴ͘ϴϲ ϯϳϳ͘ϲϮ

ŐŐƌĞŐĂƚĞŬǀĂůƵĞŽĨƋƵŽƚĞĚŝŶǀĞƐƚŵĞŶƚƐ ϰϵϱ͘ϳϮ 154.11 DĂƌŬĞƚǀĂůƵĞŽĨƋƵŽƚĞĚŝŶǀĞƐƚŵĞŶƚƐ 519.49 ϭϲϰ͘ϵϱ ŐŐƌĞŐĂƚĞŬǀĂůƵĞŽĨƵŶƋƵŽƚĞĚŝŶǀĞƐƚŵĞŶƚƐ 313.14 ϮϮϯ͘ϱϭ dŚĞŽŵƉĂŶLJŚĂƐƵŶƋƵŽƚĞĚŝŶǀĞƐƚŵĞŶƚƐŽĨ`ϯϭϮ͘ϱϴĐƌŽƌĞŝŶ bodies corporate (Previous year `ϭϵϵ͘ϴϱĐƌŽƌĞͿ͘ ŐŐƌĞŐĂƚĞƉƌŽǀŝƐŝŽŶĨŽƌĚŝŵŝŶƵƟŽŶŝŶǀĂůƵĞŽĨŝŶǀĞƐƚŵĞŶƚƐ - ;Ϭ͘ϱϯͿ

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 14. >KE'ͳdZD>KE^ΘsE^ hŶƐĞĐƵƌĞĚ͕ŽŶƐŝĚĞƌĞĚ'ŽŽĚ a) Capital Advances ϭ͕ϴϮϭ͘ϬϮ ϭ͕ϳϴϭ͘ϲϲ b) ^ĞĐƵƌŝƚLJĞƉŽƐŝƚƐ ϵϱ͘ϲϬ ϭϲϲ͘ϯϳ c) Others ^ŚĂƌĞĂƉƉůŝĐĂƟŽŶŵŽŶĞLJ ϱϱ͘ϯϭ ϭϮϵ͘ϳϳ Others ϰϰϵ͘ϱϬ ϭϬϯ͘ϭϰ dŽƚĂůhŶƐĞĐƵƌĞĚ>ŽŶŐͲƚĞƌŵ>ŽĂŶƐΘĚǀĂŶĐĞƐ Ϯ͕ϰϮϭ͘ϰϯ Ϯ͕ϭϴϬ͘ϵϰ dŽƚĂů>ŽŶŐͲƚĞƌŵ>ŽĂŶƐΘĚǀĂŶĐĞƐ Ϯ͕ϰϮϭ͘ϰϯ Ϯ͕ϭϴϬ͘ϵϰ

220 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 15. Kd,ZEKEͳhZZEd^^d^ Bank balances ϭ͘ϵϱ ϭϰ͘Ϯϰ Total Other Non Current Assets 1.95 ϭϰ͘Ϯϰ

Ύ΀WůĞĚŐĞĚǁŝƚŚ'ŽǀĞƌŶŵĞŶƚĚĞƉĂƌƚŵĞŶƚƐĂŶĚKƚŚĞƌƐ` Ϭ͘ϱϲĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭ͘ϬϱĐƌŽƌĞͿ΁

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ ϭϲ͘ INVENTORIES a) ZĂǁDĂƚĞƌŝĂůƐ Inventories ϭ͕ϱϮϬ͘ϭϮ ϵϴϭ͘ϱϱ 'ŽŽĚƐ/ŶdƌĂŶƐŝƚ ϵϮ͘ϴϴ ϮϱϮ͘ϭϵ ϭ͕ϲϭϯ͘ϬϬ ϭ͕Ϯϯϯ͘ϳϰ b) tŽƌŬͲŝŶͲƉƌŽĐĞƐƐ Work in process ϮϬϬ͘ϱϭ ϭϳϵ͘Ϭϯ ϮϬϬ͘ϱϭ ϭϳϵ͘Ϭϯ ĐͿ Finished Goods Inventories ϭ͕ϳϲϭ͘ϯϱ ϭ͕ϱϬϲ͘ϭϬ ϭ͕ϳϲϭ͘ϯϱ ϭ͕ϱϬϲ͘ϭϬ d) Stores & Spares Inventories ϴϵϯ͘ϮϮ ϱϵϳ͘ϰϯ 'ŽŽĚƐ/ŶdƌĂŶƐŝƚ Ϯϯ͘Ϯϳ Ϯϱ͘ϵϲ ϵϭϲ͘ϰϵ ϲϮϯ͘ϯϵ e) Others Scrap ϯϮ͘ϴϮ ϯϳ͘Ϯϳ ϯϮ͘ϴϮ ϯϳ͘Ϯϳ Total Inventories ϰ͕ϱϮϰ͘ϭϳ ϯ͕ϱϳϵ͘ϱϯ

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 17. TRADE RECEIVABLES hŶƐĞĐƵƌĞĚ džĐĞĞĚŝŶŐ^ŝdžDŽŶƚŚƐ Accounts Receivable Considered Good ϭϲϯ͘ϯϬ ϭϯϬ͘ϵϱ ŽŶƐŝĚĞƌĞĚŽƵďƞƵů ϭ͘ϯϭ ϭ͘ϯϭ >ĞƐƐ͗WƌŽǀŝƐŝŽŶĨŽƌďĂĚĂŶĚĚŽƵďƞƵůĚĞďƚƐ ;ϭ͘ϯϭͿ ;ϭ͘ϯϭͿ Others Considered good ϭ͕ϳϵϬ͘ϴϯ ϭ͕ϭϳϱ͘ϴϬ ϭ͕ϵϱϰ͘ϭϯ ϭ͕ϯϬϲ͘ϳϱ dŽƚĂůhŶƐĞĐƵƌĞĚdƌĂĚĞZĞĐĞŝǀĂďůĞ ϭ͕ϵϱϰ͘ϭϯ ϭ͕ϯϬϲ͘ϳϱ dŽƚĂůdƌĂĚĞZĞĐĞŝǀĂďůĞ ϭ͕ϵϱϰ͘ϭϯ ϭ͕ϯϬϲ͘ϳϱ

221 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) EŽŶͲƵƌƌĞŶƚWŽƌƟŽŶ ƵƌƌĞŶƚWŽƌƟŽŶ WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 18. CASH & BANK BALANCES a) Cash & Cash Equivalents Cash on hand - - ϭ͘ϰϮ Ϯ͘ϭϲ ŚĞƋƵĞƐͬƌĂŌƐ/ŶŚĂŶĚ - - ϴ͘Ϭϴ ϭ͘ϳϯ Bank Balances in current accounts - - ϭϲϱ͘ϬϬ ϭϮϳ͘ϱϴ ĞƉŽƐŝƚƐǁŝƚŚŽƌŝŐŝŶĂůŵĂƚƵƌŝƚLJŽĨůĞƐƐ - - - Ϭ͘ϭϲ than three months Others - - Ϭ͘Ϭϰ Ϭ͘ϬϮ Total Cash & Cash Equivalents - - 174.54 ϭϯϭ͘ϲϱ b) KƚŚĞƌĂŶŬĂůĂŶĐĞƐ i) ĂŶŬƐǁŝƚŚĂƌŵĂƌŬĞĚďĂůĂŶĐĞƐ ĂƌŵĂƌŬĞĚĨŽƌƵŶƉĂŝĚĚŝǀŝĚĞŶĚ - - ϭϮ͘ϯϯ ϭϲ͘ϱϬ ii) ĂŶŬƐĞƉŽƐŝƚƐ ĞƉŽƐŝƚƐǁŝƚŚŽƌŝŐŝŶĂůŵĂƚƵƌŝƚLJ - - ϭϯ͘Ϯϲ ϭ͘Ϭϲ upto twelve months ĞƉŽƐŝƚƐǁŝƚŚŽƌŝŐŝŶĂůŵĂƚƵƌŝƚLJ ϭ͘ϵϱ ϭϰ͘Ϯϰ - - more than twelve months Amount disclosed under other ;ϭ͘ϵϱͿ ;ϭϰ͘ϮϰͿ - - ŶŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐ;EŽƚĞŶŽͲϭϱͿ dŽƚĂůKƚŚĞƌĂŶŬĂůĂŶĐĞƐ - - Ϯϱ͘ϱϵ ϭϳ͘ϱϲ dŽƚĂůĂƐŚΘĂŶŬĂůĂŶĐĞƐ - - ϮϬϬ͘ϭϯ ϭϰϵ͘Ϯϭ

(` in Crore) EŽŶͲƵƌƌĞŶƚWŽƌƟŽŶ ƵƌƌĞŶƚWŽƌƟŽŶ WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 19. SHORT TERM LOANS & ADVANCES a) >ŽĂŶƐĂŶĚĚǀĂŶĐĞƐ to Related Party Unsecured, considered good - - ϯϳϴ͘ϲϯ ϰϳϭ͘ϵϱ - - ϯϳϴ͘ϲϯ 471.95 b) >ŽĂŶƐĂŶĚĚǀĂŶĐĞƐƚŽŽƚŚĞƌƐ hŶƐĞĐƵƌĞĚ͕ĐŽŶƐŝĚĞƌĞĚŐŽŽĚΎ ϭ͕ϴϮϭ͘ϬϮ ϭ͕ϳϴϭ͘ϲϲ Ϯ͕ϭϭϰ͘Ϯϲ ϭ͕ϵϴϱ͘ϴϴ ŽƵďƞƵů - - ϱ͘ϳϲ ϱ͘ϳϲ >ĞƐƐ͗WƌŽǀŝƐŝŽŶĨŽƌĚŽƵďƞƵůĂĚǀĂŶĐĞƐ - - ;ϱ͘ϳϲͿ ;ϱ͘ϳϲͿ ϭ͕ϴϮϭ͘ϬϮ ϭ͕ϳϴϭ͘ϲϲ Ϯ͕ϭϭϰ͘Ϯϲ ϭ͕ϵϴϱ͘ϴϴ ĐͿ ^ĞĐƵƌŝƚLJĞƉŽƐŝƚ - - ϭϯ͘ϴϰ ϳ͘ϭϮ - - 13.84 ϳ͘ϭϮ

222 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) EŽŶͲƵƌƌĞŶƚWŽƌƟŽŶ ƵƌƌĞŶƚWŽƌƟŽŶ WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ 19. ^,KZdͳdZD>KE^Θ sE^ΈKEd͘Ή d) KƚŚĞƌ>ŽĂŶƐĂŶĚĚǀĂŶĐĞƐ - ĂůĂŶĐĞƐǁŝƚŚƐƚĂƚƵƚŽƌLJͬŐŽǀĞƌŶŵĞŶƚ - - ϵϰϰ͘ϱϱ ϲϬϳ͘ϵϵ ĂƵƚŚŽƌŝƟĞƐ ĚǀĂŶĐĞŝŶĐŽŵĞƚĂdžŝŶĐůƵĚŝŶŐd^ - - ϰ͕ϲϮϳ͘ϱϭ ϯ͕ϴϱϰ͘Ϯϳ - - ϱ͕ϱϳϮ͘Ϭϲ ϰ͕ϰϲϮ͘Ϯϲ Amount disclosed under long-term ;ϭ͕ϴϮϭ͘ϬϮͿ ;ϭ͕ϳϴϭ͘ϲϲͿ - - ůŽĂŶƐΘĂĚǀĂŶĐĞƐ;EŽƚĞŶŽͲϭϰͿ ΎĚǀĂŶĐĞƐƌĞĐŽǀĞƌĂďůĞŝŶĐĂƐŚŽƌ in kind or for value to be received includes ` NIL (Previous year `Ϭ͘ϴϮ crore) being the amount due from ĚŝƌĞĐƚŽƌƐͬŽĸĐĞƌƐŽĨƚŚĞŽŵƉĂŶLJ͘ dŽƚĂů^ŚŽƌƚͲƚĞƌŵ>ŽĂŶƐΘĚǀĂŶĐĞƐ - - ϴ͕Ϭϳϴ͘ϳϵ ϲ͕ϵϮϳ͘Ϯϭ

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ ϮϬ͘ OTHER CURRENT ASSETS a) Pre-Paid expenses ϳϱ͘ϱϴ ϱϲ͘ϲϱ b) /ŶƚĞƌĞƐƚƌĞĐĞŝǀĂďůĞŽŶƐŚŽƌƚƚĞƌŵůŽĂŶƐΘĂĚǀĂŶĐĞƐΎ Ϯϯϵ͘ϰϬ ϭϰϴ͘Ϭϭ ĐͿ Other receivables ϭϬϵ͘Ϭϭ Ϯϵ͘ϲϱ Total Other Current Assets ϰϮϯ͘ϵϵ Ϯϯϰ͘ϯϭ Ύ/ŶĐůƵĚŝŶŐƌĞĐŽǀĞƌĂďůĞĨƌŽŵƌĞůĂƚĞĚƉĂƌƟĞƐ

(` in Crore) For the year ended For the year ended WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ Ϯϭ͘ REVENUE FROM OPERATIONS a) ^ĂůĞŽĨWƌŽĚƵĐƚƐ Finished goods Ϯϭ͕ϰϮϴ͘ϲϯ ϭϵ͕ϮϰϬ͘ϵϲ dƌĂĚĞĚŐŽŽĚƐ ϱϲ͘ϱϬ Ϯϱϳ͘ϴϵ Inter-division transfer ϰ͕ϲϱϲ͘Ϭϲ Ϯ͕ϴϱϲ͘ϰϯ Ϯϲ͕ϭϰϭ͘ϭϵ ϮϮ͕ϯϱϱ͘Ϯϴ b) KƚŚĞƌKƉĞƌĂƟŶŐZĞǀĞŶƵĞƐ dƌĂŶƐŵŝƐƐŝŽŶŚĂƌŐĞƐΎ ϴϵ͘Ϯϰ - Scrap sale ϲϲ͘Ϭϴ ϰϯ͘ϴϳ džƉŽƌƚŝŶĐĞŶƟǀĞƐ ϲϴ͘ϵϭ ϯϵ͘ϲϭ

223 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) For the year ended For the year ended WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ Ϯϭ͘ ZsEh&ZKDKWZd/KE^ΈKEd͘Ή ǀŝĂƟŽŶŝŶĐŽŵĞ ϭϳ͘Ϭϰ ϭϲ͘ϭϲ Others ϭϭ͘ϱϯ ϭϳ͘ϵϳ ϮϱϮ͘ϴϬ ϭϭϳ͘ϲϭ >ĞƐƐ͗/ŶƚĞƌĚŝǀŝƐŝŽŶdƌĂŶƐĨĞƌ ;ϰ͕ϲϱϲ͘ϬϲͿ ;Ϯ͕ϴϱϲ͘ϰϯͿ dŽƚĂůZĞǀĞŶƵĞĨƌŽŵKƉĞƌĂƟŽŶƐ Ϯϭ͕ϳϯϳ͘ϵϯ ϭϵ͕ϲϭϲ͘ϰϲ ΎŝŶĐůƵĚĞƐ/ŶĐŽŵĞƉĞƌƚĂŝŶŝŶŐƚŽƉƌĞǀŝŽƵƐLJĞĂƌ`ϰϮ͘ϲϰĐƌŽƌĞ

(` in Crore) For the year ended For the year ended WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ ϮϮ͘ OTHER INCOME a) ŝǀŝĚĞŶĚ/ŶĐŽŵĞ Ϭ͘Ϯϱ Ϭ͘ϭϯ b) Net gain on sale of investments ϲϴ͘ϱϵ ϭ͘ϱϳ ĐͿ KƚŚĞƌEŽŶKƉĞƌĂƟŶŐ/ŶĐŽŵĞ WƌŽĮƚKŶƐĂůĞͬƚƌĂŶƐĨĞƌŽĨĮdžĞĚĂƐƐĞƚƐ ϰ͘ϳϱ ϭϭ͘Ϭϲ >ŝĂďŝůŝƚLJͬƉƌŽǀŝƐŝŽŶƐŶŽůŽŶŐĞƌƌĞƋƵŝƌĞĚ͕ǁƌŝƩĞŶďĂĐŬ ϭ͘ϭϯ ϭϵ͘ϰϯ Others ϲϭ͘ϳϬ ϭϬϵ͘ϳϱ dŽƚĂůKƚŚĞƌ/ŶĐŽŵĞ ϭϯϲ͘ϰϮ 141.94

(` in Crore) For the year ended For the year ended WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ Ϯϯ͘ COST OF MATERIALS CONSUMED a) Raw material consumed ϲ͕ϯϬϲ͘ϴϵ ϱ͕ϰϲϬ͘ϯϴ b) /ŶƚĞƌŝǀŝƐŝŽŶdƌĂŶƐĨĞƌ ϰ͕ϲϱϲ͘Ϭϲ Ϯ͕ϴϱϲ͘ϰϯ ϭϬ͕ϵϲϮ͘ϵϱ ϴ͕ϯϭϲ͘ϴϭ >ĞƐƐ͗/ŶƚĞƌŝǀŝƐŝŽŶƚƌĂŶƐĨĞƌ ;ϰ͕ϲϱϲ͘ϬϲͿ ;Ϯ͕ϴϱϲ͘ϰϯͿ Total Cost of Material Consumed ϲ͕ϯϬϲ͘ϴϵ ϱ͕ϰϲϬ͘ϯϴ

(` in Crore) For the year ended For the year ended WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ Ϯϰ͘ WhZ,^K&^dK<ͳ/EͳdZ ϵϭ͘ϭϲ Ϯϭϳ͘ϭϴ

224 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) For the year ended For the year ended WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ Ϯϱ͘ ,E'^/E/EsEdKZ/^K&&/E/^,'KK^͕ tKZ<ͳ/EͳWZK^^E^dK<ͳ/EͳdZ Opening Stock - Finished Goods ϭ͕ϱϬϲ͘ϭϬ ϭ͕ϭϯϲ͘ϯϰ - Work in Process ϭϳϵ͘Ϭϯ ϭϲϱ͘ϱϴ - Scrap ϯϳ͘Ϯϳ ϲ͘ϱϲ ϭ͕ϳϮϮ͘ϰϬ ϭ͕ϯϬϴ͘ϰϴ

Closing Stock - Finished Goods ϭ͕ϳϲϭ͘ϯϱ ϭ͕ϱϬϲ͘ϭϬ - Work in Process ϮϬϬ͘ϱϭ ϭϳϵ͘Ϭϯ - Scrap ϯϮ͘ϴϮ ϯϳ͘Ϯϳ ϭ͕ϵϵϰ͘ϲϴ ϭ͕ϳϮϮ͘ϰϬ

EdΈ/EZ^ΉͬZ^/E^dK< ;ϮϳϮ͘ϮϴͿ ;ϰϭϯ͘ϵϮͿ džĐŝƐĞĚƵƚLJŽŶĂĐĐŽƵŶƚŽĨŝŶĐƌĞĂƐĞͬ;ĚĞĐƌĞĂƐĞͿŽŶƐƚŽĐŬŽĨ ĮŶŝƐŚĞĚŐŽŽĚƐ Ϯϱ͘ϮϬ ϰϳ͘ϰϲ dŽƚĂů;/ŶĐƌĞĂƐĞͿͬĞĐƌĞĂƐĞŝŶ^ƚŽĐŬ ;Ϯϰϳ͘ϬϴͿ ;ϯϲϲ͘ϰϲͿ

(` in Crore) For the year ended For the year ended WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ Ϯϲ͘ EMPLOYEE BENEFIT EXPENSES a) Salaries and Wages ϱϴϵ͘ϴϳ ϱϮϵ͘ϰϮ b) ŽŶƚƌŝďƵƟŽŶƚŽWƌŽǀŝĚĞŶƚĂŶĚŽƚŚĞƌĨƵŶĚƐ Ϯϰ͘ϵϵ ϯϲ͘ϭϰ ĐͿ ŵƉůŽLJĞĞƐĐŽŵƉĞŶƐĂƟŽŶĞdžƉĞŶƐĞƐƵŶĚĞƌŵƉůŽLJĞĞ^ƚŽĐŬKƉƟŽŶ - ;Ϭ͘ϴϯͿ ^ĐŚĞŵĞ΂EŽƚĞŶŽ͘Ͳϰ;ĞͿ΃ d) ^ƚĂīǁĞůĨĂƌĞĞdžƉĞŶƐĞƐ Ϯϲ͘ϲϯ Ϯϲ͘ϱϲ dŽƚĂůŵƉůŽLJĞĞĞŶĞĮƚdžƉĞŶƐĞƐ ϲϰϭ͘ϰϵ ϱϵϭ͘Ϯϵ

(` in Crore) For the year ended For the year ended WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ Ϯϳ͘ FINANCE COST a) Interest Expense ĞďĞŶƚƵƌĞƐĂŶĚŽƚŚĞƌƚĞƌŵͲůŽĂŶƐ ϴϬϰ͘ϳϱ ϯϳϭ͘ϭϭ Others ϭϱϭ͘ϯϭ ϭϲϮ͘ϭϭ ϵϱϲ͘Ϭϲ ϱϯϯ͘ϮϮ b) >ĞƐƐ͗/ŶƚĞƌĞƐƚ/ŶĐŽŵĞ Interest on Inter-corporate deposits ;ϭϱϱ͘ϯϲͿ ;ϵϵ͘ϮϯͿ Others ;ϰϮ͘ϱϰͿ ;ϳϯ͘ϵϱͿ ;ϭϵϳ͘ϵϬͿ (173.18)

dŽƚĂů&ŝŶĂŶĐĞŽƐƚ ϳϱϴ͘ϭϲ ϯϲϬ͘Ϭϰ

225 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) For the year ended For the year ended WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ Ϯϴ͘ OTHER EXPENSES a) ŽŶƐƵŵƉƟŽŶŽĨƐƚŽƌĞƐĂŶĚƐƉĂƌĞƐ ϭ͕ϳϱϱ͘ϴϵ ϭ͕ϰϵϭ͘Ϯϱ b) ŽŶƐƵŵƉƟŽŶŽĨƉŽǁĞƌĂŶĚĨƵĞů ϭ͕ϰϯϳ͘ϵϱ ϭ͕ϭϮϵ͘ϳϳ ĐͿ Other manufacturing expenses ϵϰϮ͘ϵϱ ϰϵϳ͘Ϯϭ d) Repair and Maintenance -Plant and machinery ϭϱϱ͘Ϭϵ ϭϳϮ͘ϰϯ -Building ϯϮ͘ϳϴ ϰϰ͘ϭϬ -Others ϭϱϲ͘ϰϯ ϭϰϵ͘ϭϵ e) Royalty ϭϴϲ͘ϭϲ ϭϴϬ͘ϴϵ f) ZĞŶƚΎ Ϯϳ͘ϱϭ ϭϳ͘ϲϯ g) ZĂƚĞƐĂŶĚdĂdžĞƐΎΎ ϭϰϭ͘ϳϯ Ϯϰ͘Ϭϵ h) Insurance Ϯϵ͘Ϯϱ ϮϮ͘ϴϬ i) Payment to Statutory Auditors - -Audit fees ϭ͘ϭϮ ϭ͘Ϯϲ ͲdĂdžĂƟŽŶŵĂƩĞƌƐ Ϭ͘ϭϴ Ϭ͘ϭϬ ͲŽŵƉĂŶLJůĂǁŵĂƩĞƌƐ - Ϭ͘Ϭϯ -Other services Ϭ͘Ϭϴ Ϭ͘ϭϰ -Reimbursement of expenses Ϭ͘Ϭϴ Ϭ͘Ϭϳ j) Miscellaneous expenses ϲϰϳ͘ϳϮ ϲϵϮ͘ϵϲ ŬͿ >ŽƐƐͬĚŝŵŝŶƵƟŽŶĂƌŝƐŝŶŐĨƌŽŵďƵƐŝŶĞƐƐŝŶǀĞƐƚŵĞŶƚΎΎΎ ϱϳϰ͘ϭϮ ϵϯ͘ϲϮ l) ZĞƐĞĂƌĐŚΘĞǀĞůŽƉŵĞŶƚĞdžƉĞŶƐĞƐΎΎΎΎ ϭϰ͘Ϯϱ ϲ͘ϰϲ m) >ŽƐƐŽŶƐĂůĞͬĚŝƐĐĂƌĚŽĨĮdžĞĚĂƐƐĞƚƐ ϭ͘ϭϯ ϱ͘ϯϰ n) ŽŶĂƟŽŶ ϳϮ͘ϭϮ ϭϬϵ͘ϯϳ o) ŝƌĞĐƚŽƌƐƐŝƫŶŐĨĞĞƐ Ϭ͘ϭϴ Ϭ͘Ϭϴ p) Selling expenses ϲϳϴ͘ϰϴ ϲϳϭ͘ϴϳ q) Prior Period Adjustment - - r) ĂĚĚĞďƚƐͬƉƌŽǀŝƐŝŽŶĨŽƌĚŽƵďƞƵůĚĞďƚƐ - Ϭ͘ϭϬ s) DŝƐĐĞůůĂŶĞŽƵƐdžƉĞŶĚŝƚƵƌĞǁƌŝƩĞŶŽī - ϭ͘ϱϲ t) Financial expenses ϭϭϬ͘ϲϯ ϭϲϯ͘ϯϭ u) &ŽƌĞŝŐŶĞdžĐŚĂŶŐĞŇƵĐƚƵĂƟŽŶ;ŶĞƚͿ ϱϰ͘Ϭϴ ϯϳ͘ϰϭ ΀ŶĞƚŽĨŝŶĐŽŵĞŽĨ`ϭϲϱ͘ϭϳĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭϬϱ͘ϬϰĐƌŽƌĞͿ΁ Total Other Expenses ϳ͕Ϭϭϵ͘ϵϭ ϱ͕ϱϭϯ͘Ϭϰ ΎdŚĞŽŵƉĂŶLJŚĂƐƉĂŝĚůĞĂƐĞƌĞŶƚĂůƐŽĨ`Ϯϳ͘ϱϭĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ`ϭϳ͘ϲϯĐƌŽƌĞͿƵŶĚĞƌĐĂŶĐĞůůĂďůĞŽƉĞƌĂƟŶŐůĞĂƐĞƐ͘dŚĞƌĞĂƌĞŶŽ ŶŽŶͲĐĂŶĐĞůůĂďůĞŽƉĞƌĂƟŶŐůĞĂƐĞƐ͘  ΎΎƵƌŝŶŐƚŚĞLJĞĂƌ:ŝŶĚĂůWŽǁĞƌ>ŝŵŝƚĞĚ͕ĂƐƵďƐŝĚŝĂƌLJĐŽŵƉĂŶLJ͕ĂƐĂŵĂƩĞƌŽĨƉƌƵĚĞŶĐĞ͕ƌĞĐŽŐŶŝƐĞĚĂŶĞdžƉĞŶƐĞĨŽƌĞůĞĐƚƌŝĐŝƚLJĚƵƚLJŽĨ `ϭϬϴ͘ϮϭĐƌŽƌĞƵƉƚŽϯϭƐƚDĂƌĐŚ͕ϮϬϭϯĂŐĂŝŶƐƚĚŝƐƉƵƚĞĚĚĞŵĂŶĚŵĂĚĞďLJƚŚĞ'ŽǀĞƌŶŵĞŶƚŽĨŚŚĂƫƐŐĂƌŚ͘/ŶƚĞƌĞƐƚƚŚĞƌĞŽŶŽĨ` ϯϮ͘ϲϭ ĐƌŽƌĞŚĂǀĞďĞĞŶŝŶĐůƵĚĞĚŝŶ&ŝŶĂŶĐĞĐŽƐƚ͘  ΎΎΎŶĞdžĐĞƉƟŽŶĂůŝƚĞŵ;EŽƚĞEŽ͘ϯϱƚŽŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐͿ  ΎΎΎΎdžƉĞŶĚŝƚƵƌĞŽŶƌĞƐĞĂƌĐŚΘĚĞǀĞůŽƉŵĞŶƚĂĐƟǀŝƟĞƐ͕ŝŶĐƵƌƌĞĚĚƵƌŝŶŐƚŚĞLJĞĂƌ͕ŝƐ`Ϯϴ͘ϱϳĐƌŽƌĞ;ŝŶĐůƵĚŝŶŐĐĂƉŝƚĂůĞdžƉĞŶĚŝƚƵƌĞŽĨ `ϭϰ͘ϯϮĐƌŽƌĞͿ;ƉƌĞǀŝŽƵƐLJĞĂƌ`ϴ͘ϵϳĐƌŽƌĞ͕ŝŶĐůƵĚŝŶŐĐĂƉŝƚĂůĞdžƉĞŶĚŝƚƵƌĞŽĨ`Ϯ͘ϱϭĐƌŽƌĞͿ

226 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) WĂƌƟĐƵůĂƌƐ Current Year Previous Year Ϯϵ͘ CONTINGENT LIABILITIES AND COMMITMENTS I. ŽŶƟŶŐĞŶƚ>ŝĂďŝůŝƟĞƐŶŽƚƉƌŽǀŝĚĞĚĨŽƌŝŶƌĞƐƉĞĐƚŽĨ͗ ĞƐĐƌŝƉƟŽŶ a) Guarantees issued by the Company’s Bankers on behalf of the ϰϲϱ͘ϵϬ ϰϭϵ͘ϴϬ Company b) >ĞƩĞƌŽĨĐƌĞĚŝƚŽƉĞŶĞĚďLJďĂŶŬƐ ϭ͕Ϭϯϴ͘ϱϭ ϲϯϱ͘ϱϮ c) ŽƌƉŽƌĂƚĞŐƵĂƌĂŶƚĞĞƐͬƵŶĚĞƌƚĂŬŝŶŐƐŝƐƐƵĞĚŽŶďĞŚĂůĨŽĨƚŚŝƌĚƉĂƌƟĞƐ͘ Ϯϴϯ͘ϱϳ ϯϮϮ͘ϱϯ d) ŝƐƉƵƚĞĚdžĐŝƐĞƵƚLJĂŶĚKƚŚĞƌĚĞŵĂŶĚƐ ϵϯϳ͘ϭϳ ϴϲϵ͘Ϯϯ e) Future liability on account of lease rent for unexpired period ϮϴϬ͘ϰϳ ϯϵ͘ϯϬ f) ŽŶĚƐĞdžĞĐƵƚĞĚĨŽƌŵĂĐŚŝŶĞƌLJŝŵƉŽƌƚƐƵŶĚĞƌW'^ĐŚĞŵĞ ϯ͕Ϭϴϭ͘ϰϭ Ϯ͕ϳϳϯ͘ϮϮ g) /ŶĐŽŵĞdĂdžĚĞŵĂŶĚƐǁŚĞƌĞƚŚĞĐĂƐĞƐĂƌĞƉĞŶĚŝŶŐĂƚǀĂƌŝŽƵƐ ϭϵϭ͘ϵϰ ϭϴϳ͘ϳϲ ƐƚĂŐĞƐŽĨĂƉƉĞĂůǁŝƚŚƚŚĞĂƵƚŚŽƌŝƟĞƐ h) Claims against the Company, not acknowledged as debt ϳϮ͘ϱϮ ϭϳ͘Ϭϯ i) Uncalled liability towards partly paid up shares ϳϯ͘Ϯϳ - II. Commitments ƐƟŵĂƚĞĚĂŵŽƵŶƚŽĨĐŽŶƚƌĂĐƚƐƌĞŵĂŝŶŝŶŐƚŽďĞĞdžĞĐƵƚĞĚŽŶĐĂƉŝƚĂů ϴ͕ϰϬϯ͘ϭϳ ϭϭ͕ϵϴϭ͘ϬϮ account and not provided for (net of advances)

:ŝŶĚĂůWŽǁĞƌ>ŝŵŝƚĞĚ͕ĂƐƵďƐŝĚŝĂƌLJĐŽŵƉĂŶLJ͕ŚĂƐĨŽƌĂƉƌŽũĞĐƚŝŶƚŚĞ<ĂƚŚŵĂŶĚƵsĂůůĞLJ͕EĞƉĂů͕ĐŽŵŵŝƩĞĚƚŽƐƵďƐĐƌŝďĞ ϰϴйĞƋƵŝƚLJĐĂƉŝƚĂůŝŶ:ŽŝŶƚsĞŶƚƵƌĞĐŽŵƉĂŶLJŶĂŵĞůLJ^LJŶĞƌŐLJ/ŶĨƌĂƐƚƌƵĐƚƵƌĞWǀƚ͘>ƚĚ͘ĂŵŽƵŶƟŶŐƚŽ`ϭ͘ϳϵĐƌŽƌĞ;EĞƉĂůŝ ZƵƉĞĞƐϮ͘ϴϲĐƌŽƌĞͿ͘,ŽǁĞǀĞƌƚŚĞŽŵƉĂŶLJŚĂƐŵĂĚĞĂŶŝŶǀĞƐƚŵĞŶƚŽĨ`Ϭ͘ϬϭĐƌŽƌĞ;EĞƉĂůŝƌƵƉĞĞƐϬ͘ϬϮĐƌŽƌĞͿ͘

ϯϬ͘ :ŝŶĚĂůWŽǁĞƌ>ŝŵŝƚĞĚ͕ĂƐƵďƐŝĚŝĂƌLJĐŽŵƉĂŶLJ͕ŝƐĂƚĂĚǀĂŶĐĞƐƚĂŐĞŽĨŝŵƉůĞŵĞŶƚĂƟŽŶŽĨϮϰϬϬDt;ϰyϲϬϬDtͿdŚĞƌŵĂůWŽǁĞƌ WůĂŶƚĂƚdĂŵŶĂƌ͕ZĂŝŐĂƌŚŝŶƚŚĞƐƚĂƚĞŽĨŚŚĂƫƐŐĂƌŚ͘&ƵƌƚŚĞƌƚŚĞŽŵƉĂŶLJŚĂƐŝŶŝƟĂƚĞĚǁŽƌŬŽŶϭϯϮϬDt;ϮyϲϲϬDtͿdŚĞƌŵĂů WŽǁĞƌWƌŽũĞĐƚůŽĐĂƚĞĚĂƚWĂƚƌĂƚƵĂŶĚĂůƐŽĂŶŽƚŚĞƌdŚĞƌŵĂůWŽǁĞƌWƌŽũĞĐƚŽĨϭϯϮϬDt;ϮyϲϲϬDtͿůŽĐĂƚĞĚĂƚ'ŽĚĚĂŝŶƚŚĞƐƚĂƚĞ ŽĨ:ŚĂƌŬŚĂŶĚ͘ 31. /ŶƚŚĞŽƉŝŶŝŽŶŽĨƚŚĞŽĂƌĚ͕ƵƌƌĞŶƚƐƐĞƚƐ͕>ŽĂŶƐĂŶĚĚǀĂŶĐĞƐŚĂǀĞĂǀĂůƵĞŽŶƌĞĂůŝƐĂƟŽŶŝŶƚŚĞŽƌĚŝŶĂƌLJĐŽƵƌƐĞŽĨďƵƐŝŶĞƐƐĂƚ ůĞĂƐƚĞƋƵĂůƚŽƚŚĞĂŵŽƵŶƚĂƚǁŚŝĐŚƚŚĞLJĂƌĞƐƚĂƚĞĚĂŶĚƉƌŽǀŝƐŝŽŶĨŽƌĂůůŬŶŽǁŶůŝĂďŝůŝƟĞƐŚĂƐďĞĞŶŵĂĚĞĂŶĚĐŽŶƐŝĚĞƌĞĚĂĚĞƋƵĂƚĞ͘

ϯϮ͘ ĂͿ WƌŽǀŝƐŝŽŶĨŽƌĐƵƌƌĞŶƚŝŶĐŽŵĞƚĂdžŚĂƐďĞĞŶŵĂĚĞĐŽŶƐŝĚĞƌŝŶŐǀĂƌŝŽƵƐďĞŶĞĮƚƐĂŶĚĂůůŽǁĂŶĐĞƐĂǀĂŝůĂďůĞƚŽƚŚĞŽŵƉĂŶLJ ƵŶĚĞƌƚŚĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚĞ/ŶĐŽŵĞdĂdžĐƚ͕ϭϵϲϭ͘ b) Movement of deferredƚĂdžƉƌŽǀŝƐŝŽŶͬĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚĐĐŽƵŶƟŶŐ^ƚĂŶĚĂƌĚ;^ͲϮϮͿ͚ĐĐŽƵŶƟŶŐĨŽƌdĂdžĞƐŽŶ /ŶĐŽŵĞ͛ŝƐĂƐƵŶĚĞƌ͗

227 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) As on Charge/ As on Charge/ As on WĂƌƟĐƵůĂƌƐ ϭƐƚƉƌŝů͕ (Credit) during ϭƐƚƉƌŝů͕ (Credit) during ϯϭƐƚDĂƌĐŚ͕ ϮϬϭϭ ϮϬϭϭͲϭϮ ϮϬϭϮ the year ϮϬϭϯ A. Deferred Tax Assets a) ŝƐĂůůŽǁĂŶĐĞƵͬƐϰϯͲŽĨƚŚĞ ;ϭϬϬ͘ϴϮͿ ;ϭϯ͘ϰϬͿ ;ϭϭϰ͘ϮϮͿ ;Ϯϱ͘ϰϬͿ ;ϭϯϵ͘ϲϮͿ /ŶĐŽŵĞdĂdžĐƚ͕ϭϵϲϭ b) WƌŽǀŝƐŝŽŶĨŽƌŽƵďƞƵůĞďƚŽƌƐ ;ϭ͘ϱϭͿ ;Ϭ͘ϳϵͿ ;Ϯ͘ϯϬͿ - ;Ϯ͘ϯϬͿ c) WƌŽǀŝƐŝŽŶĨŽƌĚŝŵƵŶŝƟŽŶŝŶǀĂůƵĞŽĨ ---;ϭϭϰ͘ϬϯͿ ;ϭϭϰ͘ϬϯͿ Investments Total Deferred Tax Assets ;ϭϬϮ͘ϯϯͿ (14.19) ;ϭϭϲ͘ϱϮͿ (139.43) ;Ϯϱϱ͘ϵϱͿ B. ĞĨĞƌƌĞĚdĂdž>ŝĂďŝůŝƟĞƐ a) ŝīĞƌĞŶĐĞďĞƚǁĞĞŶŽŽŬĂŶĚdĂdž ϭ͕ϭϬϲ͘ϳϴ ϮϬϭ͘ϲϵ ϭ͕ϯϬϴ͘ϰϳ ϮϴϮ͘ϴϴ ϭ͕ϱϵϭ͘ϯϱ ĞƉƌĞĐŝĂƟŽŶ b) DŝƐĐĞůůĂŶĞŽƵƐdžƉĞŶĚŝƚƵƌĞǁƌŝƩĞŶŽī ϭ͘Ϭϯ ;ϭ͘ϬϯͿ - ϭ͘ϭϰ ϭ͘ϭϰ dŽƚĂůĞĨĞƌƌĞĚdĂdž>ŝĂďŝůŝƟĞƐ ϭ͕ϭϬϳ͘ϴϭ ϮϬϬ͘ϲϲ ϭ͕ϯϬϴ͘ϰϳ Ϯϴϰ͘ϬϮ ϭ͕ϱϵϮ͘ϰϵ C. Total Deferred Tax (Net) ϭ͕ϬϬϱ͘ϰϴ ϭϴϲ͘ϰϳ ϭ͕ϭϵϭ͘ϵϱ 144.59 ϭ͕ϯϯϲ͘ϱϰ

(` in Crore, except per share data) WĂƌƟĐƵůĂƌƐ Current Year Previous Year 33. ͚ZE/E'^WZ^,Z͕͛/EKZEt/d,KhEd/E' ^dEZΈ^ͳϮϬΉ͗ WƌŽĮƚĨŽƌƚŚĞLJĞĂƌĂŌĞƌdĂdžĂƟŽŶ Ϯ͕ϵϭϭ͘ϲϮ ϰ͕ϬϬϮ͘Ϯϲ WƌŽĮƚĂƩƌŝďƵƚĂďůĞƚŽŽƌĚŝŶĂƌLJƐŚĂƌĞŚŽůĚĞƌƐ Ϯ͕ϵϭϭ͘ϲϮ ϰ͕ϬϬϮ͘Ϯϲ ĚĚ͗^ŚĂƌĞŽĨWƌŽĮƚŽĨƐƐŽĐŝĂƚĞƐ ϰϬ͘ϮϬ ϮϬ͘Ϭϯ >ĞƐƐ͗DŝŶŽƌŝƚLJ/ŶƚĞƌĞƐƚ ;ϰϭ͘ϳϭͿ ;ϱϳ͘ϰϬͿ WƌŽĮƚĂƩƌŝďƵƚĂďůĞƚŽKƌĚŝŶĂƌLJƐŚĂƌĞŚŽůĚĞƌƐ;ŽŶƐŽůŝĚĂƚĞĚͿ Ϯ͕ϵϭϬ͘ϭϭ ϯ͕ϵϲϰ͘ϴϵ Number of Equity Shares (in nos.) a) Issued and subscribed ϵϯ͕ϰϴ͕ϯϯ͕ϴϭϴ ϵϯ͕ϰϱ͕ϵϵ͕ϯϴϬ b) EƵŵďĞƌŽĨƉŽƚĞŶƟĂůĞƋƵŝƚLJ^ŚĂƌĞƐ;ƵŶĚĞƌŵƉůŽLJĞĞƐ͛ƐƚŽĐŬŽƉƟŽŶƐĐŚĞŵĞͿ -- dŽƚĂůŶŽ͘ŽĨƐŚĂƌĞƐŝŶĐůƵĚŝŶŐƉŽƚĞŶƟĂůĞƋƵŝƚLJƐŚĂƌĞƐ ϵϯ͕ϰϴ͕ϯϯ͕ϴϭϴ ϵϯ͕ϰϱ͕ϵϵ͕ϯϴϬ Basic earnings per Share (`) ϯϭ͘ϭϯ ϰϮ͘ϰϮ ŝůƵƚĞĚĞĂƌŶŝŶŐƐƉĞƌ^ŚĂƌĞ;`) ϯϭ͘ϭϯ ϰϮ͘ϰϮ

228 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) Current Year Previous Year WĂƌƟĐƵůĂƌƐ Gratuity Leave Gratuity Leave ŶĐĂƐŚŵĞŶƚ ŶĐĂƐŚŵĞŶƚ 34. ͚DW>KzE&/d^͕͛/EKZEt/d, KhEd/E'^dEZΈ^ͳϭϱΉ A. 'ƌĂƚƵŝƚLJΘ>ĞĂǀĞŶĐĂƐŚŵĞŶƚ I Components of Employer Expense Funded Non-Funded Funded Non-Funded 1 Current Service Cost ϱ͘Ϯϰ ϭϱ͘ϵϭ ϳ͘ϰϮ ϭϭ͘ϵϴ 2 Interest Cost Ϯ͘ϰϵ ϱ͘ϭϮ Ϯ͘ϳϰ ϯ͘ϳϰ 3 džƉĞĐƚĞĚZĞƚƵƌŶŽŶWůĂŶƐƐĞƚƐ ;Ϯ͘ϬϱͿ - ;Ϯ͘ϯϮͿ - ϰ ƵƌƚĂŝůŵĞŶƚŽƐƚͬ;ƌĞĚŝƚͿ ϱ ^ĞƩůĞŵĞŶƚŽƐƚͬ;ƌĞĚŝƚͿ 6 Past Service Cost Ϭ͘ϲϳ ϰ͘ϯϱ ;ϭ͘ϰϰͿ Ϯ͘ϭϰ 7 ĐƚƵĂƌŝĂů>ŽƐƐĞƐͬ;'ĂŝŶƐͿ ϭ͘ϳϵ ;ϭϭ͘ϭϴͿ Ϭ͘Ϯϭ ϰ͘ϰϵ ϴ dŽƚĂůĞdžƉĞŶƐĞƌĞĐŽŐŶŝƐĞĚŝŶƚŚĞWƌŽĮƚĂŶĚ ϴ͘ϭϰ ϭϰ͘Ϯϭ ϲ͘ϲϬ ϮϮ͘ϯϱ Loss Account II ĐƚƵĂůZĞƚƵƌŶƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ Ϯ͘ϭϮ - ϭ͘ϲϲ - III EĞƚƐƐĞƚƐͬ;>ŝĂďŝůŝƚLJͿƌĞĐŽŐŶŝƐĞĚŝŶƚŚĞĂůĂŶĐĞ Sheet 1 WƌĞƐĞŶƚǀĂůƵĞŽĨĞĮŶĞĚĞŶĞĮƚKďůŝŐĂƟŽŶ ;ϯϴ͘ϴϯͿ ;ϰϴ͘ϲϵͿ ;ϰϬ͘ϮϭͿ ;ϲϰ͘ϬϭͿ 2 &ĂŝƌsĂůƵĞŽĨWůĂŶƐƐĞƚƐ Ϯϲ͘Ϯϲ - ϯϭ͘ϲϯ - 3 ^ƚĂƚƵƐ΂^ƵƌƉůƵƐͬ;ĞĮĐŝƚͿ΃;ϭͲϮͿ ;ϭϭ͘ϱϴͿ ;ϳϭ͘ϲϳͿ ;ϴ͘ϱϲͿ ;ϲϰ͘ϬϭͿ ϰ Unrecognised Past Service Cost - - Ϭ͘ϴϴ - EĞƚƐƐĞƚƐͬ;>ŝĂďŝůŝƚLJͿƌĞĐŽŐŶŝƐĞĚŝŶƚŚĞ ;ϭϭ͘ϱϴͿ ;ϳϭ͘ϲϳͿ ;ϳ͘ϲϴͿ ;ϲϰ͘ϬϭͿ ĂůĂŶĐĞ^ŚĞĞƚ;ϯнϰͿ IV ŚĂŶŐĞŝŶĞĮŶĞĚĞŶĞĮƚKďůŝŐĂƟŽŶ;KͿ WƌĞƐĞŶƚsĂůƵĞŽĨKĂƚƚŚĞďĞŐŝŶŶŝŶŐŽĨƚŚĞLJĞĂƌ ;ϯϬ͘ϰϱͿ ;ϯϳ͘ϯϯͿ ;ϯϮ͘ϳϭͿ ;ϰϳ͘ϯϬͿ 1 Current Service Cost ;ϱ͘ϮϰͿ ;ϳ͘ϲϯͿ ;ϳ͘ϰϭͿ ;ϭϭ͘ϵϴͿ 2 Interest Cost ;Ϯ͘ϰϵͿ ;ϯ͘ϬϮͿ ;Ϯ͘ϳϰͿ ;ϯ͘ϳϰͿ 3 ƵƌƚĂŝůŵĞŶƚŽƐƚͬ;ƌĞĚŝƚͿ ---- ϰ ^ĞƩůĞŵĞŶƚŽƐƚͬ;ƌĞĚŝƚͿ ---- ϱ Plan Amendments - ;ϳ͘ϰϱͿ Ϯ͘Ϯϭ ;Ϯ͘ϭϰͿ 6 ĐƋƵŝƐŝƟŽŶƐ - ;Ϭ͘ϱϴͿ ;Ϭ͘ϲϵͿ 7 ĐƚƵĂƌŝĂů;>ŽƐƐĞƐͿͬ'ĂŝŶƐ ;ϭ͘ϴϲͿ ϯ͘ϭϲ ;Ϭ͘ϬϲͿ ;ϰ͘ϰϵͿ ϴ ĞŶĞĮƚƐWĂŝĚ Ϯ͘Ϯϭ ϯ͘ϱϵ ϭ͘Ϭϴ ϲ͘ϯϯ WƌĞƐĞŶƚsĂůƵĞŽĨKĂƚƚŚĞĞŶĚŽĨƚŚĞLJĞĂƌ ;ϯϳ͘ϴϯͿ ;ϰϴ͘ϲϵͿ ;ϰϬ͘ϮϭͿ ;ϲϰ͘ϬϭͿ V Change in Fair Value of Assets Plan Assets at the beginning of the year Ϯϭ͘ϰϰ - Ϯϭ͘ϳϬ - 1 ĐƋƵŝƐŝƟŽŶĚũƵƐƚŵĞŶƚ --;Ϭ͘ϭϬͿ - 2 džƉĞĐƚĞĚZĞƚƵƌŶŽŶWůĂŶƐƐĞƚƐ Ϯ͘Ϭϱ - Ϯ͘ϯϮ - 3 ĐƚƵĂƌŝĂů;>ŽƐƐĞƐͿͬ'ĂŝŶƐ Ϭ͘Ϭϳ - ;Ϭ͘ϭϴͿ - ϰ ĐƚƵĂůŽŵƉĂŶLJŽŶƚƌŝďƵƟŽŶ ϰ͘Ϯϵ - ϴ͘ϵϳ ϲ͘ϯϯ ϱ ĞŶĞĮƚWĂŝĚ ;ϭ͘ϲϬͿ - ;ϭ͘ϬϴͿ ;ϲ͘ϯϯͿ Plan Assets at the end of the year Ϯϲ͘Ϯϲ - ϯϭ͘ϲϯ - VI ĐƚƵĂƌŝĂůƐƐƵŵƉƟŽŶƐ 1 ŝƐĐŽƵŶƚZĂƚĞ;йͿ ϴ ϴ ϴ͘ϱ ϴ͘ϱ 2 džƉĞĐƚĞĚZĞƚƵƌŶŽŶWůĂŶƐƐĞƚƐ;йͿ ϵ ϵ 3 ^ĂůĂƌLJĞƐĐĂůĂƟŽŶƌĂƚĞ 10 10 12 12

229 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

Gratuity WĂƌƟĐƵůĂƌƐ ϮϬϭϮͲϭϯ ϮϬϭϭͲϭϮ ϮϬϭϬͲϭϭ ϮϬϬϵͲϭϬ ϮϬϬϴͲϬϵ VI džƉĞƌŝĞŶĐĞ,ŝƐƚŽƌLJ 1 ĞĮŶĞĚďĞŶĞĮƚŽďůŝŐĂƟŽŶ ϯϳ͘ϴϯ ;ϯϬ͘ϱϬͿ ;Ϯϲ͘ϯϬͿ ;Ϯϭ͘ϭϬͿ ;ϵ͘ϱϭͿ 2 Plan Assets Ϯϲ͘Ϯϲ Ϯϭ͘ϰϰ ϭϲ͘ϰϴ ϵ͘ϵϳ ϳ͘Ϭϰ 3 ^ƵƌƉůƵƐͬ;ĞĮĐŝƚͿ ϭϭ͘ϱϴ ;ϵ͘ϬϭͿ ;ϵ͘ϴϮͿ ;ϭϭ͘ϮϬͿ ;Ϯ͘ϰϳͿ ϰ džƉĞƌŝĞŶĐĞ;>ŽƐƐͿͬ'ĂŝŶŽŶƉůĂŶůŝĂďŝůŝƟĞƐ ;Ϯ͘ϰϮͿ ;Ϭ͘ϲϮͿ ;Ϭ͘ϲϲͿ ;Ϭ͘ϮϮͿ Ϭ͘ϬϮ ϱ džƉĞƌŝĞŶĐĞ;>ŽƐƐͿͬ'ĂŝŶŽŶƉůĂŶĂƐƐĞƚƐ Ϭ͘Ϭϳ Ϭ͘Ϭϯ Ϭ͘ϭϮ ;Ϭ͘ϭϬͿ Ϭ͘Ϯϵ 6 ĐƚƵĂƌŝĂů;>ŽƐƐͿͬ'ĂŝŶĚƵĞƚŽĐŚĂŶŐĞŽĨ Ϭ͘ϱϲ - ;ϭ͘ϭϴͿ Ϭ͘ϴϳ ;Ϭ͘ϰϰͿ ĂƐƐƵŵƉƟŽŶƐ

>ĞĂǀĞŶĐĂƐŚŵĞŶƚ WĂƌƟĐƵůĂƌƐ ϮϬϭϮͲϭϯ ϮϬϭϭͲϭϮ ϮϬϭϬͲϭϭ ϮϬϬϵͲϭϬ ϮϬϬϴͲϬϵ 1 ĞĮŶĞĚďĞŶĞĮƚŽďůŝŐĂƟŽŶ ϲϬ͘ϭϴ ;ϱϬ͘ϮϬͿ ;ϯϳ͘ϬϬͿ ;ϯϭ͘ϵϬͿ ;Ϯϲ͘ϮϬͿ 2 Plan Assets - - - - - 3 ^ƵƌƉůƵƐͬ;ĞĮĐŝƚͿ ϲϬ͘ϭϴ ;ϱϬ͘ϮϬͿ ;ϯϳ͘ϬϬͿ ;ϯϭ͘ϵϬͿ ;Ϯϲ͘ϮϬͿ ϰ džƉĞƌŝĞŶĐĞ;>ŽƐƐͿͬ'ĂŝŶŽŶƉůĂŶůŝĂďŝůŝƟĞƐ ;ϴ͘ϮϲͿ ;ϰ͘ϴϭͿ ;ϭ͘ϵϰͿ ϰ͘ϵϬ ϲ͘ϭϮ ϱ džƉĞƌŝĞŶĐĞ;>ŽƐƐͿͬ'ĂŝŶŽŶƉůĂŶĂƐƐĞƚƐ E͘͘ E͘͘ E͘͘ E͘͘ E͘͘ 6 ĐƚƵĂƌŝĂů;>ŽƐƐͿͬ'ĂŝŶĚƵĞƚŽĐŚĂŶŐĞŽĨ ϭϱ͘ϰϮ - Ϯ͘Ϯϳ ;ϯ͘ϵϬͿ ;ϭ͘ϴϬͿ ĂƐƐƵŵƉƟŽŶƐ

B. PROVIDENT FUND

 dŚĞŽŵƉĂŶLJĐŽŶƚƌŝďƵƚĞĚͬƉƌŽǀŝĚĞĚ`ϭϯ͘ϵϰĐƌŽƌĞĂŶĚ` ϮϮ͘ϵϳĐƌŽƌĞƚŽǁĂƌĚƐƉƌŽǀŝĚĞŶƚĨƵŶĚĚƵƌŝŶŐƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ ϮϬϭϯΘϯϭƐƚDĂƌĐŚ͕ϮϬϭϮƌĞƐƉĞĐƟǀĞůLJ͘  dŚĞ'ƵŝĚĂŶĐĞŽŶ/ŵƉůĞŵĞŶƟŶŐ^ϭϱ͕ŵƉůŽLJĞĞĞŶĞĮƚƐƐƚĂƚĞƐƚŚĂƚďĞŶĞĮƚƐŝŶǀŽůǀŝŶŐĞŵƉůŽLJĞƌĞƐƚĂďůŝƐŚĞĚƉƌŽǀŝĚĞŶƚĨƵŶĚƐ͕ ǁŚŝĐŚƌĞƋƵŝƌĞŝŶƚĞƌĞƐƚƐŚŽƌƞĂůůƐƚŽďĞƌĞĐŽŵƉĞŶƐĞĚĂƌĞƚŽďĞĐŽŶƐŝĚĞƌĞĚĂƐĚĞĮŶĞĚďĞŶĞĮƚƉůĂŶƐ͘dŚĞĐƚƵĂƌŝĂů^ŽĐŝĞƚLJŽĨ/ŶĚŝĂ ŚĂƐŝƐƐƵĞĚƚŚĞĮŶĂůŐƵŝĚĂŶĐĞĨŽƌŵĞĂƐƵƌĞŵĞŶƚŽĨƉƌŽǀŝĚĞŶƚĨƵŶĚůŝĂďŝůŝƟĞƐ͘dŚĞĂĐƚƵĂƌLJŚĂƐĂĐĐŽƌĚŝŶŐůLJƉƌŽǀŝĚĞĚĂǀĂůƵĂƟŽŶĂŶĚ ďĂƐĞĚŽŶƚŚĞďĞůŽǁĂƐƐƵŵƉƟŽŶƐŵĂĚĞĂƉƌŽǀŝƐŝŽŶŽĨ`ϵ͘ϯϲĐƌŽƌĞĂƐĂƚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ;WƌĞǀŝŽƵƐzĞĂƌ`ϭϬ͘ϯϴĐƌŽƌĞͿ͘

dŚĞĚĞƚĂŝůƐŽĨĨƵŶĚĂŶĚƉůĂŶĂƐƐĞƚƐƉŽƐŝƟŽŶĂƌĞŐŝǀĞŶďĞůŽǁ͗ WĂƌƟĐƵůĂƌƐ ƐĂƚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ƐĂƚϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ Providend Interest Providend Interest Fund Guarantee Fund Guarantee Plan assets at period end, at fair value Ϯϭϰ͘ϴϴ ϭϳϮ͘ϲϯ WƌĞƐĞŶƚǀĂůƵĞŽĨďĞŶĞĮƚŽďůŝŐĂƟŽŶĂƚƉĞƌŝŽĚĞŶĚ Ϯϭϰ͘ϴϴ ϵ͘ϯϲ ϭϳϮ͘ϲϯ ϭϬ͘ϯϴ

ƐƐƵŵƉƟŽŶƐƵƐĞĚŝŶĚĞƚĞƌŵŝŶŝŶŐƚŚĞƉƌĞƐĞŶƚǀĂůƵĞŽďůŝŐĂƟŽŶŽĨƚŚĞŝŶƚĞƌĞƐƚƌĂƚĞŐƵĂƌĂŶƚĞĞƵŶĚĞƌĞƚĞƌŵŝŶŝƐƟĐƉƉƌŽĂĐŚ͗ WĂƌƟĐƵůĂƌƐ ϮϬϭϮͲϭϯ ϮϬϭϰĂŶĚ ϮϬϭϭͲϭϮ ϮϬϭϯĂŶĚ ƚŚĞƌĞĂŌĞƌ ƚŚĞƌĞĂŌĞƌ džƉĞĐƚĞĚZĞƚƵƌŶŽŶĂƐƐĞƚƐŽĨ ϴ͘ϰϬй ϴ͘ϰϬй ϴ͘ϮϬй ϴ͘ϮϬй exempted provident fund džƉĞĐƚĞĚŐƵĂƌĂŶƚĞĞĚŝŶƚĞƌĞƐƚƌĂƚĞ ϴ͘ϲϬй ϴ͘ϲϬй ϴ͘ϲϬй ϴ͘ϲϬй ŝƐĐŽƵŶƚƌĂƚĞ ϴ͘ϬϬй ϴ͘ϱϬй

230 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

35.  dŚĞŽŵƉĂŶLJŚĂƐŽǀĞƌƚŚĞLJĞĂƌƐ͕ĞdžƉĂŶĚĞĚŝƚƐƐƚĞĞů͕ƉŽǁĞƌ ƚŚĞƐĂůĞƐƚŽĐƵƐƚŽŵĞƌƐůŽĐĂƚĞĚŝŶ/ŶĚŝĂĂŶĚŽƵƚƐŝĚĞ/ŶĚŝĂ͘ Θ ŵŝŶŝŶŐ ďƵƐŝŶĞƐƐĞƐ͕ ďŽƚŚ ŝŶ /ŶĚŝĂ ĂŶĚ ŝŶƚĞƌŶĂƟŽŶĂůůLJ͘  ^ĞŐŵĞŶƚĂĐĐŽƵŶƟŶŐƉŽůŝĐŝĞƐĂƌĞŝŶůŝŶĞǁŝƚŚƚŚĞĂĐĐŽƵŶƟŶŐ dŚĞŽŵƉĂŶLJ͕ĂƐƉĂƌƚŽĨŐůŽďĂůĞdžƉĂŶƐŝŽŶŽĨŝƚƐĐŽƌĞƐƚĞĞů ƉŽůŝĐŝĞƐŽĨƚŚĞŽŵƉĂŶLJ͘/ŶĂĚĚŝƟŽŶ͕ƚŚĞĨŽůůŽǁŝŶŐƐƉĞĐŝĮĐ ĂŶĚŵŝŶŝŶŐďƵƐŝŶĞƐƐĂŶĚŽŶďĞŝŶŐĂǁĂƌĚĞĚƚŚĞůDƵƚƵŶ ĂĐĐŽƵŶƟŶŐ ƉŽůŝĐŝĞƐ ŚĂǀĞ ďĞĞŶ ĨŽůůŽǁĞĚ ĨŽƌ ƐĞŐŵĞŶƚ Iron Ore contract (“Contract”) by the Government of ƌĞƉŽƌƟŶŐ͗ Bolivia, made strategic business investment in Bolivia, ƚŚƌŽƵŐŚŝƚƐƐƵďƐŝĚŝĂƌŝĞƐŝŶŽůŝǀŝĂ͘/ŶǀŝĞǁŽĨǀĂƌŝŽƵƐƌĞĐĞŶƚ a) Segment revenue includes sales and other income ĚĞǀĞůŽƉŵĞŶƚƐ͕ ŝŶĐůƵĚŝŶŐ ƚĞƌŵŝŶĂƟŽŶ ŽĨ ƚŚĞ ĂĨŽƌĞƐĂŝĚ ĚŝƌĞĐƚůLJ ŝĚĞŶƟĮĂďůĞ ǁŝƚŚͬĂůůŽĐĂďůĞ ƚŽ ƚŚĞ ƐĞŐŵĞŶƚ ŽŶƚƌĂĐƚǁŝƚŚƚŚĞŽůŝǀŝĂŶ'ŽǀĞƌŶŵĞŶƚ͕ƚŚĞĞŶƟƌĞďƵƐŝŶĞƐƐ ŝŶĐůƵĚŝŶŐŝŶƚĞƌͲƐĞŐŵĞŶƚƌĞǀĞŶƵĞ͘ ŝŶǀĞƐƚŵĞŶƚŵĂĚĞďLJƚŚĞŽŵƉĂŶLJŝŶŽůŝǀŝĂŚĂĚŝŵƉĂŝƌĞĚ͘ ďͿ džƉĞŶƐĞƐƚŚĂƚĂƌĞĚŝƌĞĐƚůLJŝĚĞŶƟĮĂďůĞǁŝƚŚͬĂůůŽĐĂďůĞ ŽŶƐŝĚĞƌŝŶŐƚŚĞƐĂŵĞ͕ŝƚǁĂƐĚĞĐŝĚĞĚƚŽĚŝƐƉŽƐĞŽīϰϵй to segments are considered for determining the of such investment in accordance with the terms of the ƐĞŐŵĞŶƚƌĞƐƵůƚƐ͘ ƐĂŝĚŽŶƚƌĂĐƚŝŶŽƌĚĞƌƚŽƉƌĞǀĞŶƚĂŶLJĨƵƌƚŚĞƌďƵƐŝŶĞƐƐůŽƐƐ͘ ĐĐŽƌĚŝŶŐůLJ͕ŝŶŶŽƚĞϮϴ͞KƚŚĞƌĞdžƉĞŶƐĞƐ͟ŝŶƚŚĞ^ƚĂƚĞŵĞŶƚ ĐͿ džƉĞŶƐĞƐͬ/ŶĐŽŵĞƐǁŚŝĐŚƌĞůĂƚĞƐƚŽƚŚĞŽŵƉĂŶLJĂƐ ŽĨWƌŽĮƚĂŶĚ>ŽƐƐ͕͞>ŽƐƐĂƌŝƐŝŶŐĨƌŽŵďƵƐŝŶĞƐƐŝŶǀĞƐƚŵĞŶƚ͟ a whole and not allocable to segments are included of `Ϯϯϯ͘ϬϯĐƌŽƌĞƌĞƉƌĞƐĞŶƚƐůŽƐƐŽŶĚŝƐƉŽƐĂů͖ĂŶĚ`ϯϰϭ͘Ϭϵ ƵŶĚĞƌ KƚŚĞƌ hŶͲĂůůŽĐĂďůĞ džƉĞŶĚŝƚƵƌĞ ;ŶĞƚ ŽĨ hŶͲ ĐƌŽƌĞ͕ĂƐĂŵĂƩĞƌŽĨƉƌƵĚĞŶĐĞ͕ƌĞƉƌĞƐĞŶƚƐǀĂƌŝŽƵƐĂƐƐĞƚƐ͖ ĂůůŽĐĂďůĞ/ŶĐŽŵĞͿ͘ ŽĨĂĨŽƌĞƐĂŝĚďƵƐŝŶĞƐƐŝŶǀĞƐƚŵĞŶƚƐ͘dŚĞƉƌĞǀŝŽƵƐLJĞĂƌĮŐƵƌĞ ĚͿ ^ĞŐŵĞŶƚ ĂƐƐĞƚƐ ĂŶĚ ůŝĂďŝůŝƟĞƐ ŝŶĐůƵĚĞ ƚŚŽƐĞ ĚŝƌĞĐƚůLJ ƌĞƉƌĞƐĞŶƚƐůŽƐƐŽŶĐĞƌƚĂŝŶŽƚŚĞƌŝŶǀĞƐƚŵĞŶƚ͘ ŝĚĞŶƟĮĂďůĞ ǁŝƚŚ ƌĞƐƉĞĐƟǀĞ ƐĞŐŵĞŶƚƐ͘ hŶͲĂůůŽĐĂďůĞ ϯϲ͘ ŝƐĐůŽƐƵƌĞ ĂƐ RĞƋƵŝƌĞĚ ďLJ ĐĐŽƵŶƟŶŐ ^ƚĂŶĚĂƌĚ ;^ͲϭϳͿ ĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐƌĞƉƌĞƐĞŶƚƚŚĞĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐ ͚^ĞŐŵĞŶƚZĞƉŽƌƟŶŐ͛ that relate to Company as a whole and not allocable ƚŽĂŶLJƐĞŐŵĞŶƚ͘  dŚĞƉƌŝŵĂƌLJƌĞƉŽƌƚĂďůĞƐĞŐŵĞŶƚƐĂƌĞƚŚĞďƵƐŝŶĞƐƐƐĞŐŵĞŶƚƐ ŶĂŵĞůLJ/ƌŽŶΘ^ƚĞĞůĂŶĚWŽǁĞƌ͘dŚĞƐĞĐŽŶĚĂƌLJƌĞƉŽƌƚĂďůĞ segments are geographical segments which are based on

(` in Crore) WĂƌƟĐƵůĂƌƐ Current Year Previous Year I. Primary Segments (Business Segments) 1 Segment Revenue a) Iron & Steel ϭϴ͕Ϯϯϳ͘Ϯϲ ϭϱ͕ϴϵϯ͘Ϯϭ b) Power ϰ͕ϱϱϵ͘ϵϲ ϰ͕ϰϲϰ͘ϯϮ c) Others ϱϱϳ͘ϵϱ ϱϯϵ͘ϳϱ Sub Total (Gross) Ϯϯ͕ϯϱϱ͘ϭϳ ϮϬ͕ϴϵϳ͘Ϯϴ >ĞƐƐ͗/ŶƚĞƌͲƐĞŐŵĞŶƚZĞǀĞŶƵĞ ϭ͕ϲϭϳ͘Ϯϰ ϭ͕ϮϴϬ͘ϴϮ Net Segment Revenue Ϯϭ͕ϳϯϳ͘ϵϯ ϭϵ͕ϲϭϲ͘ϰϲ Ϯ Segment Results -- ;WƌŽĮƚ;нͿͬ>ŽƐƐ;ͲͿďĞĨŽƌĞƚĂdžĂŶĚŝŶƚĞƌĞƐƚĨƌŽŵĞĂĐŚƐĞŐŵĞŶƚͿ a) Iron & Steel ϯ͕ϵϭϱ͘ϰϰ ϯ͕ϵϮϯ͘ϮϮ b) Power Ϯ͕ϯϳϴ͘ϴϲ Ϯ͕ϲϱϯ͘ϱϯ c) Others ;ϲ͘ϳϭͿ ;ϭϳϯ͘ϲϯͿ Sub Total ϲ͕Ϯϴϳ͘ϱϵ ϲ͕ϰϬϯ͘ϭϮ

231 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) WĂƌƟĐƵůĂƌƐ Current Year Previous Year >ĞƐƐ͗/ŶƚĞƌĞƐƚ͕ĮŶĂŶĐŝĂůĞdžƉĞŶƐĞƐ ϴϱϴ͘Ϯϴ ϱϮϵ͘ϲϭ Other un-allocable expenditure (net of un-allocable income) ϭ͕ϱϵϱ͘ϴϲ ϲϴϰ͘ϵϭ WƌŽĮƚďĞĨŽƌĞƚĂdž ϯ͕ϴϯϯ͘ϰϱ ϱ͕ϭϴϴ͘ϲϬ WƌŽǀŝƐŝŽŶ&ŽƌdĂdžĂƟŽŶ /ŶĐŽŵĞdĂdž ϳϳϳ͘Ϯϰ ϵϵϵ͘ϴϳ ĞīĞƌĞĚdĂdž ϭϰϰ͘ϱϵ ϭϴϲ͘ϰϳ WƌŽĮƚĨŽƌƚŚĞLJĞĂƌĂŌĞƌƚĂdž Ϯ͕ϵϭϭ͘ϲϮ ϰ͕ϬϬϮ͘Ϯϲ 3 KƚŚĞƌ/ŶĨŽƌŵĂƟŽŶ -- I Segment Assets a) Iron & Steel ϮϮ͕Ϭϭϲ͘ϵϬ ϭϳ͕ϳϰϬ͘Ϭϰ b) Power ϭϯ͕ϴϳϮ͘ϭϳ ϭϬ͕ϯϯϮ͘ϰϭ c) Others Ϯ͕ϲϭϬ͘ϯϮ ϯ͕Ϭϲϵ͘ϵϮ d) hŶͲĂůůŽĐĂƚĞĚƐƐĞƚƐΎ ϭϴ͕ϱϳϯ͘Ϯϲ ϭϯ͕ϴϲϱ͘ϭϳ Total Assets ϱϳ͕ϬϳϮ͘ϲϰ ϰϱ͕ϬϬϳ͘ϱϰ II ^ĞŐŵĞŶƚ>ŝĂďŝůŝƟĞƐ a) Iron & Steel ϯ͕Ϭϰϱ͘Ϭϯ ϭ͕ϵϱϲ͘ϴϱ b) Power ϱϱϳ͘Ϭϲ ϰϮϭ͘Ϭϱ c) Others Ϯϴϲ͘ϳϳ Ϯϳϵ͘ϰϮ d) hŶͲĂůůŽĐĂƚĞĚ>ŝĂďŝůŝƟĞƐ ϲ͕ϳϱϲ͘ϭϬ ϲ͕ϳϴϴ͘ϳϯ dŽƚĂů>ŝĂďŝůŝƟĞƐ ϭϬ͕ϲϰϰ͘ϵϲ ϵ͕ϰϰϲ͘Ϭϱ III ĂƉŝƚĂůdžƉĞŶĚŝƚƵƌĞ;/ŶĐůƵĚŝŶŐĂƉŝƚĂůǁŽƌŬŝŶWƌŽŐƌĞƐƐͿ a) Iron & Steel ϯ͕ϵϵϭ͘ϱϮ ϯ͕ϱϯϬ͘Ϯϵ b) Power ϰ͕ϱϮϱ͘ϲϵ Ϯ͕ϴϭϵ͘ϯϰ c) Others ϱϬϰ͘ϵϳ Ϯϱϴ͘Ϭϭ Total ϵ͕ϬϮϮ͘ϭϳ ϲ͕ϲϬϳ͘ϲϰ IV ĞƉƌĞĐŝĂƟŽŶ a) Iron & Steel ϴϲϮ͘ϰϳ ϳϲϳ͘ϭϯ b) Power ϱϴϴ͘ϳϭ ϱϯϱ͘ϰϮ c) Others ϴϴ͘Ϭϰ ϴϯ͘ϵϮ Total ϭ͕ϱϯϵ͘ϮϮ ϭ͕ϯϴϲ͘ϰϳ V EŽŶĂƐŚdžƉĞŶĚŝƚƵƌĞŽƚŚĞƌƚŚĂŶĞƉƌĞĐŝĂƟŽŶ a) Iron & Steel - ;Ϭ͘ϳϯͿ b) Power -- c) Others ϯϰϭ͘Ϭϵ ϵϱ͘Ϯϴ Total ϯϰϭ͘Ϭϵ 94.55

ΎhŶĂůůŽĐĂƚĞĚĂƐƐĞƚƐŝŶĐůƵĚĞĐĂƉŝƚĂůǁŽƌŬŝŶƉƌŽŐƌĞƐƐƌĞůĂƟŶŐƚŽŽŶŐŽŝŶŐƉƌŽũĞĐƚƐǁŝƚŚĐŽƌƌĞƐƉŽŶĚŝŶŐůŝĂďŝůŝƟĞƐƵŶĚĞƌƵŶĂůůŽĐĂƚĞĚ ůŝĂďŝůŝƟĞƐ͘

232 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

(` in Crore) WĂƌƟĐƵůĂƌƐ Current Year Previous Year II. ^ĞĐŽŶĚĂƌLJ^ĞŐŵĞŶƚƐ;'ĞŽŐƌĂƉŚŝĐĂů^ĞŐŵĞŶƚƐͿ 1. ZĞǀĞŶƵĞďLJ'ĞŽŐƌĂƉŚŝĐĂůDĂƌŬĞƚ a) India ϭϳ͕ϱϱϱ͘ϭϵ ϭϲ͕Ϭϯϳ͘ϱϱ b) Outside India ϰ͕ϭϴϮ͘ϳϰ ϯ͕ϱϳϴ͘ϵϭ Total Ϯϭ͕ϳϯϳ͘ϵϯ ϭϵ͕ϲϭϲ͘ϰϲ

37. /^>K^hZ^^ZYh/ZzKhEd/E'^dEZΈ^ͳϭϴΉ͚Z>dWZdz/^>K^hZ^͛ dŚĞŶĂŵĞƐŽĨƌĞůĂƚĞĚƉĂƌƟĞƐǁŚĞƌĞĐŽŶƚƌŽůĞdžŝƐƚĂŶĚͬŽƌǁŝƚŚǁŚŽŵƚƌĂŶƐĂĐƟŽŶƐŚĂǀĞƚĂŬĞŶƉůĂĐĞĚƵƌŝŶŐƚŚĞLJĞĂƌĂŶĚ ĚĞƐĐƌŝƉƟŽŶŽĨƌĞůĂƟŽŶƐŚŝƉĂƐŝĚĞŶƟĮĞĚĂŶĚĐĞƌƟĮĞĚďLJƚŚĞŵĂŶĂŐĞŵĞŶƚĂƌĞ͗ A. >ŝƐƚŽĨZĞůĂƚĞĚWĂƌƟĞƐĂŶĚZĞůĂƟŽŶƐŚŝƉƐ a) ƐƐŽĐŝĂƚĞƐ 1 Angul Sukinda Railway Limited 2 'ƵũĂƌĂƚEZŽŬŝŶŐŽĂů>ŝŵŝƚĞĚ 3 JB FabInfra Private Limited ϰ Koleko Resources ϱ Nalwa Steel & Power Limited 6 Panacore Shiping Pte Ltd , Singapore 7 Prodisyne (Pty) Ltd ϴ Sungu Sungu Pty Limited b) Joint Ventures 1 Jindal Synfuels Limited 2 Shresht Mining and Metals Private Limited 3 Urtan North Mining Private Limited ĐͿ Key Management Personnel 1 Shri Naveen Jindal 2 ^ŚƌŝZĂǀŝhƉƉĂů;ǁ͘Ğ͘Ĩ͘Ϭϭ͘ϭϬ͘ϮϬϭϮͿ 3 Shri Anand Goel ϰ ^ŚƌŝsŝŬƌĂŶƚ'ƵũƌĂů;ƵƉƚŽϬϵ͘ϭϭ͘ϮϬϭϮͿ ϱ ^Śƌŝ<^ĂƌĂŽŐŝ;ǁ͘Ğ͘Ĩ͘Ϭϵ͘ϭϭ͘ϮϬϭϮͿ 6 ^ŚƌŝEĂƵƐŚĂĚŬŚƚĂƌŶƐĂƌŝ;ƵƉƚŽϯϬ͘Ϭϰ͘ϮϬϭϮͿ 7 ^ŚƌŝD͘>͘'ƵƉƚĂ;ǁ͘Ğ͘Ĩ͘Ϯϳ͘Ϭϰ͘ϮϬϭϮƵƉƚŽϬϵ͘ϭϭ͘ϮϬϭϮͿ d) ŶƚĞƌƉƌŝƐĞƐŽǀĞƌǁŚŝĐŚ<ĞLJDĂŶĂŐĞŵĞŶƚWĞƌƐŽŶŶĞůĂŶĚƚŚĞŝƌƌĞůĂƟǀĞƐĞdžĞƌĐŝƐĞƐŝŐŶŝĮĐĂŶƚŝŶŇƵĞŶĐĞĂŶĚǁŝƚŚ ǁŚŽŵƚƌĂŶƐĂĐƟŽŶƐŚĂǀĞƚĂŬĞŶƉůĂĐĞĚƵƌŝŶŐƚŚĞLJĞĂƌ 1 JSW Steel Limited 2 :^tŶĞƌŐLJ>ŝŵŝƚĞĚ 3 Jindal Saw Limited ϰ Jindal Stainless Limited ϱ /ŶĚŝĂ&ůLJƐĂĨĞǀŝĂƟŽŶ>ŝŵŝƚĞĚ 6 Jindal Realty Private Limited

233 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

37. /^>K^hZ^^ZYh/ZzKhEd/E'^dEZΈ^ͳϭϴΉ͚Z>dWZdz/^>K^hZ^͛ ΈKEd͘Ή 7 dƌŝ^ŚĂŬƟZĞĂůƐƚĂƚĞWƌŝǀĂƚĞ>ŝŵŝƚĞĚ ϴ Abhinandan Investments Limited ϵ Jindal System Private Limited 10 Gagan Infraenergy Limited 11 ŽůŽƌĂĚŽdƌĂĚŝŶŐŽ͘>ŝŵŝƚĞĚ 12 EĂůǁĂŶŐŝŶĞĞƌŝŶŐŽ͘>ŝŵŝƚĞĚ 13 Opelina Finance and Investment Limited ϭϰ Jindal Industries Limited ϭϱ Jindal Coal Private Limited 16 Minerals Management Services (India) Private Limited 17 zEK&ŝŶǀĞƐƚWƌŝǀĂƚĞ>ŝŵŝƚĞĚ ϭϴ :ŝŶĚĂůZĞdždžƉůŽƌĂƟŽŶWƌŝǀĂƚĞ>ŝŵŝƚĞĚ ϭϵ ŝƌWůĂŶƚĂƟŽŶƐWƌŝǀĂƚĞ>ŝŵŝƚĞĚ 20 Nalwa Investment Limited 21 ZŽŚŝƚdŽǁĞƌƐƵŝůĚŝŶŐƐ>ŝŵŝƚĞĚ 22 hƩĂŵsŝĚLJƵƚdƌĂŶƐŵŝƐƐŝŽŶWƌŝǀĂƚĞ>ŝŵŝƚĞĚ 23 /ŶĚŝĂsĞŶƚƵƌĞĚǀŝƐŽƌƐWƌŝǀĂƚĞ>ŝŵŝƚĞĚ Ϯϰ ŽŶĂŶĂnjĂdƌĂĚŝŶŐŽŵƉĂŶLJWƌŝǀĂƚĞ>ŝŵŝƚĞĚ

B dƌĂŶƐĂĐƟŽŶƐǁŝƚŚZĞůĂƚĞĚWĂƌƟĞƐ (` in Crore) ĞƐĐƌŝƉƟŽŶ ƐƐŽĐŝĂƚĞƐĂŶĚ:ŽŝŶƚ Key Management ŶƚĞƌƉƌŝƐĞƐĐŽŶƚƌŽůůĞĚ ventures Personnel by Key Management personnel and their ƌĞůĂƟǀĞƐ Current Previous Current Previous Current Previous Year Year Year Year Year Year WƵƌĐŚĂƐĞŽĨ'ŽŽĚƐͬ^ĞƌǀŝĐĞƐ ϱϯϰ͘ϬϬ ϯϵϲ͘ϴϯ --ϵϳ͘ϵϮ ϯϳ͘ϱϬ ^ĂůĞƐŽĨ'ŽŽĚƐ;ŝŶĐů͘ĐĂƉŝƚĂůŐŽŽĚƐͿ ϭϵϯ͘ϱϰ ϯϲϯ͘Ϭϯ --ϭ͕Ϭϯϱ͘ϰϮ ϭ͕ϬϳϮ͘Ϭϴ Rendering of Services - - - - Ϯ͘ϭϳ Ϯ͘ϴϵ Sale of Investments ------/ŶǀĞƐƚŵĞŶƚŝŶƋƵŝƚLJ^ŚĂƌĞƐͬƉƌĞĨĞƌĞŶĐĞ ϯϴ͘ϵϱ ϭϵ͘ϯϵ ---- shares ĚǀĂŶĐĞĂŐĂŝŶƐƚƐŚĂƌĞƉƉůŝĐĂƟŽŶ ϭϴ͘ϴϰ ---ϯϯ͘ϮϬ - money KƚŚĞƌĚǀĂŶĐĞƐŐŝǀĞŶͬ;ƚĂŬĞŶͿ - ϰϳ͘ϴϮ - Ϭ͘ϴϵ ;ϯϰ͘ϯϳͿ ;ϭϴ͘ϰϮͿ ^ĞĐƵƌŝƚLJĞƉŽƐŝƚ'ŝǀĞŶͬ;ƚĂŬĞŶͿ ;Ϭ͘ϱϬͿ ---Ϭ͘ϳϱ ϱϬ͘ϬϬ Rent and other expenses Paid ϲ͘ϰϭ ---Ϭ͘Ϯϰ Ϭ͘Ϭϵ /ŶƚĞƌĞƐƚƌĞĐĞŝǀĞĚͬ;ƉĂŝĚͿ΂ŶĞƚ΃ - Ϭ͘ϰϳ --ϯϰ͘Ϯϵ ϯϵ͘ϯϴ ŝǀŝĚĞŶĚƌĞĐĞŝǀĞĚͬ;ƉĂŝĚͿ ----;ϭϮ͘ϳϳͿ - ZĞŵƵŶĞƌĂƟŽŶΎ --ϲϯ͘Ϭϰ ϴϳ͘ϲϵ -- Lease rent received - - - - Ϯ͘ϰϭ ϯ͘ϬϬ

234 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

B dƌĂŶƐĂĐƟŽŶƐǁŝƚŚZĞůĂƚĞĚWĂƌƟĞƐ;ŽŶƚĚ͘Ϳ (` in Crore) ĞƐĐƌŝƉƟŽŶ ƐƐŽĐŝĂƚĞƐĂŶĚ:ŽŝŶƚ Key Management ŶƚĞƌƉƌŝƐĞƐĐŽŶƚƌŽůůĞĚ ventures Personnel by Key Management personnel and their ƌĞůĂƟǀĞƐ Current Previous Current Previous Current Previous Year Year Year Year Year Year ,ŝƌĞĐŚĂƌŐĞƐƉĂŝĚ -----Ϯϳ͘Ϯϵ 'ƵĂƌĂŶƚĞĞƐͬŽƌƉŽƌĂƚĞŐƵĂƌĂŶƚĞĞƐ ------ŽďƚĂŝŶĞĚͬ;ŐŝǀĞŶͿ Inter corporate deposits given Ϯ͘Ϯϴ ;ϳ͘ϲϲͿ ---ϴ͘ϲϰ /ŶƚĞƌŽƌƉŽƌĂƚĞĚĞƉŽƐŝƚƐZĞƉĂŝĚͬ ϰ͘ϮϬ ---ϯϯ͘ϮϬ ;ϯϯ͘ϬϰͿ Adjusted /ŶƚĞƌŽƌƉŽƌĂƚĞĚĞƉŽƐŝƚƐǁƌŝƩĞŶŽī/ŶƚĞƌ ------corporate deposits taken ------Inter corporate deposits refunded ------KƵƚƐƚĂŶĚŝŶŐĂůĂŶĐĞĂƚƚŚĞLJĞĂƌĞŶĚ ------/ŶǀĞƐƚŵĞŶƚŝŶƋƵŝƚLJƐŚĂƌĞƐ ϰϮ͘ϯϱ ϯ͘ϰϬ ---- Guarantees Outstanding ϳϵ͘Ϭϴ ϳϵ͘Ϭϴ ---ϭϲ͘ϲϲ /ŶƚĞƌŽƌƉŽƌĂƚĞĞƉŽƐŝƚƐdĂŬĞŶ ------ĚǀĂŶĐĞͬƐĞĐƵƌŝƚLJĚĞƉŽƐŝƚ;ƚĂŬĞŶĨƌŽŵͿͬ ;Ϭ͘ϱϬͿ ---ϴ͘ϱϬ - given to customer & Others Loans and Advances (including Interest) ϰϳ͘ϱϬ ϱϲ͘ϵϱ - Ϭ͘ϴϮ ϯϳϵ͘Ϭϱ ϰϴϳ͘ϯϵ ĚǀĂŶĐĞĂŐĂŝŶƐƚ^ŚĂƌĞƉƉůŝĐĂƟŽŶ ϱϲ͘Ϭϭ ϰϮ͘ϰϱ --ϯϯ͘ϮϬ - money ĞďƚŽƌƐͲƌ͘ĂůĂŶĐĞ Ϭ͘ϬϬ Ϭ͘ϳϯ --ϭϱϲ͘ϯϲ ϭϭϵ͘ϮϮ ƌ͘ĂůĂŶĐĞ ----Ϭ͘ϰϬ - ƌĞĚŝƚŽƌƐͲƌ͘ĂůĂŶĐĞ ϭϰ͘ϴϱ ϴ͘ϯϵ --ϭϬϴ͘ϱϮ ϳ͘Ϭϰ ƌ͘ĂůĂŶĐĞ Ϯϵ͘ϯϬ ϰ͘ϰϯ --ϲ͘ϭϲ Ϯ͘Ϯϱ

ΎZĞůĂƚĞĚWĂƌƚLJƌĞŵƵŶĞƌĂƟŽŶŝŶĐůƵĚĞƐ`Ϭ͘ϮϲĐƌŽƌĞ;ƉƌĞǀŝŽƵƐLJĞĂƌ`Ϭ͘ϮϰĐƌŽƌĞͿƉĂŝĚƚŽƌĞůĂƟǀĞƐŽĨ<ĞLJDĂŶĂŐĞŵĞŶƚWĞƌƐŽŶŶĞů

C ŝƐĐůŽƐƵƌĞŝŶƌĞƐƉĞĐƚŽĨŵĂƚĞƌŝĂůƌĞůĂƚĞĚƉĂƌƚLJƚƌĂŶƐĂĐƟŽŶƐĚƵƌŝŶŐƚŚĞLJĞĂƌ 1 DĂƚĞƌŝĂůdƌĂŶƐĂĐƟŽŶƐǁŝƚŚƐƐŽĐŝĂƚĞƐ (` in Crore) Name of Related Party EĂůǁĂ^ƚĞĞůΘ WŽǁĞƌ>ŝŵŝƚĞĚ ZĞůĂƟŽŶƐŚŝƉ Year ƐƐŽĐŝĂƚĞ WƵƌĐŚĂƐĞŽĨ'ŽŽĚƐͬ^ĞƌǀŝĐĞƐ 2012-13 ϱϭϴ͘Ϯϳ 2011-12 ϯϵϲ͘ϴϯ Sale of Goods 2012-13 ϭϵϯ͘Ϭϳ 2011-12 ϯϲϭ͘ϵϭ Other advances given 2012-13 - 2011-12 ϰϳ͘ϱϬ

235 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

Ϯ DĂƚĞƌŝĂůƚƌĂŶƐĂĐƟŽŶƐǁŝƚŚŶƚĞƌƉƌŝƐĞƐĐŽŶƚƌŽůůĞĚďLJ<ĞLJDĂŶĂŐĞŵĞŶƚWĞƌƐŽŶŶĞůĂŶĚͬŽƌƚŚĞŝƌƌĞůĂƟǀĞƐ (` in Crore) Name of Year JSW Steel JSW Energy Jindal :ŝŶĚĂů^Ăǁ Jindal dƌŝ^ŚĂŬƟ Minerals India Related Party Ltd. Mumbai Limited Stainless Limited Reality Real Estate Management Flysafe /Bellary Ltd. Hissar/ Pvt. Ltd. Pvt. Ltd. ^ĞƌǀŝĐĞ;/ŶĚŝĂͿ ǀŝĂƟŽŶ Jajpur Pvt. Ltd. Limited Purchase of 2012-13 ϯϮ͘ϬϮ - ϲ͘ϲϳ Ϯϭ͘ϰϯ - - - - 'ŽŽĚƐͬ^ĞƌǀŝĐĞƐ 2011-12 Ϯϲ͘ϳϮ - ϲ͘ϯϳ ϰ͘ϯϱ - - - - Sale of Goods 2012-13 Ϯϳϯ͘ϰϯ Ϭ͘ϵϭ ϯϲ͘Ϭϱ ϳϭϱ͘ϳϬ ϴ͘ϭϴ - ϭ͘ϭϰ - 2011-12 Ϯϯϰ͘ϭϲ ϯ͘ϲϭ ϯϯ͘ϱϮ ϳϴϳ͘ϴϮ Ϭ͘ϭϵ - - - Rendering of 2012-13 ------services 2011-12 - - Ϭ͘Ϭϰ Ϭ͘ϱϭ Ϭ͘ϳϵ - - - Advance 2012-13 - - - - - ϯϯ͘ϮϬ - - against share 2011-12 ------ĂƉƉůŝĐĂƟŽŶ money Other advances 2012-13 ϭϲ͘ϬϬ - - Ϭ͘ϮϬ ;Ϭ͘ϱϳͿ ;ϱϬ͘ϬϬͿ ŐŝǀĞŶͬ;ƚĂŬĞŶͿ 2011-12 ------;ϭϴ͘ϰϳͿ ^ĞĐƵƌŝƚLJĞƉŽƐŝƚ 2012-13 ------Given 2011-12 ------ϱϬ͘ϬϬ - Interest 2012-13 Ϭ͘ϬϮ ϭ͘ϵϱ ϯϮ͘ϯϯ - - received 2011-12 Ϭ͘ϱϱ - - - ϯϱ͘ϵϬ Ϯ͘ϵϰ - - Lease Rent 2012-13 ------Ϯ͘ϰϭ Received 2011-12 ------ϯ͘ϬϬ ,ŝƌĞŚĂƌŐĞƐ 2012-13 ------ϯϳ͘ϴϬ Paid 2011-12 ------Ϯϳ͘Ϯϵ Inter Corporate 2012-13 ------deposits given 2011-12 - - - - - ϴ͘ϲϰ - - Inter Corporate 2012-13 - - - - - ;ϯϯ͘ϮϬͿ - - ĚĞƉŽƐŝƚƐƌĞƉĂŝĚͬ 2011-12 - - - - ;ϯϯ͘ϬϰͿ - - - adjusted

3 DĂƚĞƌŝĂůdƌĂŶƐĂĐƟŽŶƐǁŝƚŚ<ĞLJDĂŶĂŐĞŵĞŶƚWĞƌƐŽŶŶĞů WĂƌƟĐƵůĂƌƐ Year Shri Shri Ravi Shri Shri DK Shri Shri Shri ML Naveen Uppal Anand Saraogi sŝŬƌĂŶƚ Naushad Gupta Jindal Goel Gujral ŬŚƚĞƌ Ansari ZĞŵƵŶĞƌĂƟŽŶ 2012-13 ϱϰ͘ϵϴ ϯ͘ϬϮ Ϯ͘ϲϰ Ϭ͘ϰϭ ϭ͘ϯϮ Ϭ͘Ϯϱ Ϭ͘ϭϲ 2011-12 ϳϯ͘ϰϮ - Ϯ͘ϰϲ - Ϯ͘ϵϴ ϭ͘ϬϮ - Loans and 2012-13 ------advances given 2011-12 Ϭ͘ϭϴ - Ϭ͘ϱϬ - Ϭ͘Ϭϭ - -

236 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ŽŶƐŽůŝĚĂƚĞĚ

Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

38. /^>K^hZ^WZ>h^ϯϮK&>/^d/E''ZDEd >ŽĂŶƐĂŶĚĚǀĂŶĐĞƐŝŶƚŚĞŶĂƚƵƌĞŽĨ>ŽĂŶƐŐŝǀĞŶƚŽƐƐŽĐŝĂƚĞƐĂŶĚKƚŚĞƌƐ͗ (` in Crore) WĂƌƟĐƵůĂƌƐ ZĞůĂƟŽŶƐŚŝƉ Amount Outstanding DĂdžŝŵƵŵĂůĂŶĐĞKƵƚƐƚĂŶĚŝŶŐ Name of the Company As at 31st As at 31st during during DĂƌĐŚ͕ϮϬϭϯ March, 2012 the year previous year JB Fab infra Private Limited Associate - ϳ͘ϮϮ ϳ͘ϮϮ ϳ͘ϮϮ

EŽƚĞƐ͗ ĂͿ ůůƚŚĞĂďŽǀĞůŽĂŶƐĂŶĚĂĚǀĂŶĐĞƐŝŶƚŚĞŶĂƚƵƌĞŽĨůŽĂŶĂƌĞŝŶƚĞƌĞƐƚďĞĂƌŝŶŐ͘ ďͿ EŽŶĞŽĨƚŚĞůŽĂŶĞĞƐŚĂǀĞ͕ƉĞƌƐĞ͕ŵĂĚĞŝŶǀĞƐƚŵĞŶƚƐŝŶƐŚĂƌĞƐŽĨƚŚĞŽŵƉĂŶLJ͘

39. FINANCIAL AND DERIVATIVE INSTRUMENTS

ĂͿ ĞƌŝǀĂƟǀĞƐĐŽŶƚƌĂĐƚƐĞŶƚĞƌĞĚŝŶƚŽďLJƚŚĞŽŵƉĂŶLJĂŶĚŽƵƚƐƚĂŶĚŝŶŐĂƐŽŶϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ͕ĨŽƌŚĞĚŐŝŶŐĐƵƌƌĞŶĐLJĂŶĚ ŝŶƚĞƌĞƐƚƌĂƚĞƌĞůĂƚĞĚƌŝƐŬƐ͗  EŽŵŝŶĂůĂŵŽƵŶƚƐŽĨĚĞƌŝǀĂƟǀĞĐŽŶƚƌĂĐƚƐĞŶƚĞƌĞĚŝŶƚŽďLJƚŚĞŽŵƉĂŶLJĂŶĚŽƵƚƐƚĂŶĚŝŶŐŝƐ`ϰϳϯ͘ϱϲĐƌŽƌĞ;WƌĞǀŝŽƵƐLJĞĂƌ `ϯ͕ϳϲϰ͘ϳϬĐƌŽƌĞͿ͘ĂƚĞŐŽƌLJǁŝƐĞďƌĞĂŬͲƵƉŝƐŐŝǀĞŶďĞůŽǁ͗

(` in Crore) WĂƌƟĐƵůĂƌƐ Current Year Previous Year Interest rate Swaps NIL Ϯϭϳ͘ϳϰ ;h^ΨĞƋƵŝǀĂůĞŶƚ ϰϬ͘ϴϴMillion) KƉƟŽŶƐ NIL ϰϳ͘ϵϰ ;h^Ψϵ͘ϬϬMillion) Forward Contracts ϰϳϯ͘ϱϲ ϯ͕ϰϵϵ͘ϬϮ ;h^ΨĞƋƵŝǀĂůĞŶƚ ;h^ΨĞƋƵŝǀĂůĞŶƚ ϴϰ͘ϮϲMillion) ϳϬϬ͘ϲϯMillion)

ďͿ dŚĞƉƌŝŶĐŝƉĂůĐŽŵƉŽŶĞŶƚŽĨĨŽƌĞŝŐŶĐƵƌƌĞŶĐLJůŽĂŶƐͬĚĞďƚƐŶŽƚŚĞĚŐĞĚďLJĚĞƌŝǀĂƟǀĞŝŶƐƚƌƵŵĞŶƚƐĂŵŽƵŶƚƚŽ`ϰϬϰϰ͘ϵϱĐƌŽƌĞ (Previous year `Ϯ͕Ϯϰϴ͘ϮϮĐƌŽƌĞͿǁŚŝĐŚŝŶƌĞƐƉĞĐƟǀĞĐƵƌƌĞŶĐŝĞƐŝƐĂƐƵŶĚĞƌ͗

WĂƌƟĐƵůĂƌƐ Current Year Previous Year h^ŽůůĂƌƐ ϲϮϭ͘ϮϴMillion ϭϯϴ͘ϱϰMillion :ĂƉĂŶĞƐĞzĞŶ ϲ͕ϭϲϭ͘ϱϱMillion ϭϵ͕ϱϳϳ͘ϴϳMillion ƵƌŽ ϰϰ͘ϱϳMillion ϰϲ͘ϰϮMillion

ĐͿ /ŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞĂĐĐŽƵŶƟŶŐƉŽůŝĐLJŽŶĮŶĂŶĐŝĂůĚĞƌŝǀĂƟǀĞŝŶƐƚƌƵŵĞŶƚƐ͕ĚƵƌŝŶŐƚŚĞLJĞĂƌ͕ƚŚĞŽŵƉĂŶLJŚĂƐƌĞĐŽŐŶŝƐĞĚ mark to market losses of ` Nil (Previous year `ϰϭ͘ϬϯĐƌŽƌĞͿ͘

237 Annual Report 2012-13 Notes ƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂƚĂŶĚĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ

ϰϬ͘ /EdZ^d/E:K/EdsEdhZ^ dŚĞŽŵƉĂŶLJ͛ƐŝŶƚĞƌĞƐƚĂƐĂǀĞŶƚƵƌĞƌ͕ŝŶũŽŝŶƚůLJĐŽŶƚƌŽůůĞĚĞŶƟƟĞƐ;/ŶĐŽƌƉŽƌĂƚĞĚ:ŽŝŶƚsĞŶƚƵƌĞƐͿŝƐĂƐƵŶĚĞƌ͗

WĂƌƟĐƵůĂƌƐ Country of WĞƌĐĞŶƚĂŐĞŽĨ WĞƌĐĞŶƚĂŐĞŽĨ /ŶĐŽƌƉŽƌĂƟŽŶ ŽǁŶĞƌƐŚŝƉŝŶƚĞƌĞƐƚĂƐ ŽǁŶĞƌƐŚŝƉŝŶƚĞƌĞƐƚĂƐ ĂƚϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ĂƚϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ Jindal Synfuels Limited India ϳϬ͘ϬϬ ϳϬ͘ϬϬ Shresht Mining and Metals Private Limited India ϱϬ͘ϬϬ ϱϬ͘ϬϬ Urtan North Mining Company Limited India ϲϲ͘ϲϳ ϲϲ͘ϲϳ

 dŚĞŽŵƉĂŶLJ͛ƐŝŶƚĞƌĞƐƚƐŝŶƚŚĞĂďŽǀĞ:ŽŝŶƚsĞŶƚƵƌĞƐŝƐƐƚĂƚĞĚĂƚĐŽƐƚ͘,ŽǁĞǀĞƌ͕ƚŚĞŽŵƉĂŶLJ͛ƐƐŚĂƌĞŽĨĂƐƐĞƚƐ͕ůŝĂďŝůŝƟĞƐ͕ŝŶĐŽŵĞ ĂŶĚĞdžƉĞŶƐĞƐ͕ĞƚĐ͘;ĞĂĐŚǁŝƚŚŽƵƚĞůŝŵŝŶĂƟŽŶŽĨƚŚĞĞīĞĐƚŽĨƚƌĂŶƐĂĐƟŽŶƐďĞƚǁĞĞŶƚŚĞŽŵƉĂŶLJĂŶĚƚŚĞũŽŝŶƚǀĞŶƚƵƌĞƐͿƌĞůĂƚĞĚ ƚŽŝƚƐŝŶƚĞƌĞƐƚŝŶƚŚĞ:ŽŝŶƚsĞŶƚƵƌĞƐĂŶĚŝŶĐůƵĚĞĚŝŶƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƌĞ͗

(` in Crore) As at As at WĂƌƟĐƵůĂƌƐ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϯ ϯϭƐƚDĂƌĐŚ͕ϮϬϭϮ I. >ŝĂďŝůŝƟĞƐ

ϭ͘ ƵƌƌĞŶƚůŝĂďŝůŝƟĞƐ a) Short term borrowings - - b) KƚŚĞƌĐƵƌƌĞŶƚůŝĂďŝůŝƟĞƐ - ϭ͘ϳϭ II. Assets Ϯ͘ Non-Current Assets a) Fixed Assets Fixed Assets ϭ͘ϯϰ Ϭ͘ϬϮ Intangible assets under development ϰϲ͘ϭϵ ϭϲ͘ϵϭ b) Long term loans & advances ϭ͘ϯϴ ϭ͘ϯϱ c) Other non-current assets ϭ͘ϯϵ - ϯ͘ Current Assets ĂƐŚΘĐĂƐŚĞƋƵŝǀĂůĞŶƚƐ ϯ͘Ϯϭ Ϭ͘ϮϮ Short term loans & advances Ϭ͘ϭϰ - Other current assets Ϭ͘Ϭϵ Ϭ͘Ϯϲ

238 Jindal Steel & Power Limited Jindal Steel & Power Limited ZĞŐĚ͘KĸĐĞ͗K͘W͘:ŝŶĚĂůDĂƌŐ͕,ŝƐĂƌʹϭϮϱϬϬϱ;,ĂƌLJĂŶĂͿ

ATTENDANCE SLIP

͘W/Ύ &ŽůŝŽEŽ͘

ůŝĞŶƚ/Ύ

IͬtĞŚĞƌĞďLJƌĞĐŽƌĚŵLJͬŽƵƌƉƌĞƐĞŶĐĞĂƚƚŚĞϯϰƚŚŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐŽĨƚŚĞŽŵƉĂŶLJĂƚŝƚƐZĞŐŝƐƚĞƌĞĚKĸĐĞĂƚK͘W͘:ŝŶĚĂůDĂƌŐ͕ ,ŝƐĂƌʹϭϮϱϬϬϱ;,ĂƌLJĂŶĂͿŽŶDŽŶĚĂLJ͕ƚŚĞϯϬƚŚĚĂLJŽĨ^ĞƉƚĞŵďĞƌ͕ϮϬϭϯĂƚϭϮ͘ϬϬEŽŽŶ͘

EĂŵĞŽĨƚŚĞƐŚĂƌĞŚŽůĚĞƌ______;ŝŶďůŽĐŬůĞƩĞƌƐͿ Note: Signature of the Shareholder / Proxy zŽƵĂƌĞƌĞƋƵĞƐƚĞĚƚŽƐŝŐŶĂŶĚŚĂŶĚƚŚŝƐŽǀĞƌĂƚƚŚĞĞŶƚƌĂŶĐĞ͘ /ĨLJŽƵĂƌĞĂƩĞŶĚŝŶŐƚŚĞŵĞĞƟŶŐŝŶƉĞƌƐŽŶŽƌďLJƉƌŽdžLJLJŽƵƌĐŽƉLJŽĨŶŽƟĐĞŵĂLJƉůĞĂƐĞďĞďƌŽƵŐŚƚďLJLJŽƵŽƌLJŽƵƌƉƌŽdžLJĨŽƌƌĞĨĞƌĞŶĐĞĂƚ ƚŚĞŵĞĞƟŶŐ͘ ΎƉƉůŝĐĂďůĞĨŽƌ/ŶǀĞƐƚŽƌƐŚŽůĚŝŶŐƐŚĂƌĞƐŝŶĚĞŵĂƚĨŽƌŵ͘

Jindal Steel & Power Limited ZĞŐĚ͘KĸĐĞ͗K͘W͘:ŝŶĚĂůDĂƌŐ͕,ŝƐĂƌʹϭϮϱϬϬϱ;,ĂƌLJĂŶĂͿ

PROXY FORM

͘W/Ύ &ŽůŝŽEŽ͘

ůŝĞŶƚ/Ύ

/ͬǁĞ ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ ŽĨ  ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ ŝŶ ƚŚĞ ĚŝƐƚƌŝĐƚŽĨͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺďĞŝŶŐĂŵĞŵďĞƌͬŵĞŵďĞƌƐŽĨƚŚĞĂďŽǀĞŶĂŵĞĚŽŵƉĂŶLJŚĞƌĞďLJĂƉƉŽŝŶƚ ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺŽĨͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺŝŶƚŚĞĚŝƐƚƌŝĐƚŽĨͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺŽƌ ĨĂůůŝŶŐŚŝŵͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺŽĨͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺŝŶƚŚĞĚŝƐƚƌŝĐƚŽĨͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ ĂƐŵLJͬŽƵƌƉƌŽdžLJƚŽǀŽƚĞĨŽƌŵĞͬƵƐŽŶŵLJͬŽƵƌďĞŚĂůĨĂƚƚŚĞϯϰƚŚŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐƚŽďĞŚĞůĚĂƚŝƚƐZĞŐŝƐƚĞƌĞĚKĸĐĞĂƚ K͘W͘:ŝŶĚĂůDĂƌŐ͕,ŝƐĂƌʹϭϮϱϬϬϱ;,ĂƌLJĂŶĂͿŽŶDŽŶĚĂLJ͕ƚŚĞϯϬƚŚĚĂLJŽĨ^ĞƉƚĞŵďĞƌ͕ϮϬϭϯĂƚϭϮ͘ϬϬŶŽŽŶ͘ ĸdžϯϬWƐ͘ ^ŝŐŶĞĚƚŚŝƐ͙͙͙͙͙͙͙͙͙͙͙͙͙͘ĚĂLJŽĨ͙͙͙͙͙͙͙͙͙͙͙͘͘ϮϬϭϯ ZĞǀĞŶƵĞ ^ƚĂŵƉ Notes: ^ŝŐŶĂƚƵƌĞ ϭ͘ dŚŝƐĨŽƌŵƐŚŽƵůĚďĞƐŝŐŶĞĚĂĐƌŽƐƐƚŚĞƐƚĂŵƉĂƐƉĞƌƐƉĞĐŝŵĞŶƐŝŐŶĂƚƵƌĞƌĞŐŝƐƚĞƌĞĚǁŝƚŚƚŚĞŽŵƉĂŶLJ͘ Ϯ͘ dŚĞ WƌŽdžLJ͕ ƚŽ ďĞ ĞīĞĐƟǀĞ͕ ƐŚŽƵůĚ ďĞ ĚĞƉŽƐŝƚĞĚ Ăƚ ƚŚĞ ƌĞŐŝƐƚĞƌĞĚ ŽĸĐĞ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ŶŽƚ ůĞƐƐ ƚŚĂŶ ϰϴ ŚŽƵƌƐ ďĞĨŽƌĞ ƚŚĞ ĐŽŵŵĞŶĐĞŵĞŶƚŽĨƚŚĞŵĞĞƟŶŐ͘ ϯ͘ ƉƌŽdžLJŶĞĞĚŶŽƚďĞĂŵĞŵďĞƌŽĨƚŚĞŽŵƉĂŶLJ͘ ϰ͘ dŚŝƐĨŽƌŵŝƐƚŽďĞƵƐĞĚŝŶĨĂǀŽƵƌŽĨͬĂŐĂŝŶƐƚƚŚĞƌĞƐŽůƵƟŽŶ͘hŶůĞƐƐŽƚŚĞƌǁŝƐĞĚŝƌĞĐƚĞĚ͕ƚŚĞƉƌŽdžLJǁŝůůǀŽƚĞĂƐŚĞƚŚŝŶŬƐĮƚ͘ ΎƉƉůŝĐĂďůĞĨŽƌ/ŶǀĞƐƚŽƌƐŚŽůĚŝŶŐƐŚĂƌĞƐŝŶĚĞŵĂƚĨŽƌŵ͘

Jindal Panther TMT Rebars

Recently launched CORPORATE OFFICE Jindal Centre, Scan this code with a 12, Bhikaiji Cama Place, QR reader app on your New Delhi - 110066, India smartphone or tablet and get a hyperlink to the mobile internet REGISTERED OFFICE O.P. Jindal Marg, Hisar - 125005 Haryana, India Tel: +91 1662 222471-84 Fax: +91 1662 220476

EEyhZ͵s Business Responsibility Report

SECTION A 'EZ>/E&KZDd/KEKhdd,KDWEz

ϭ͘ ŽƌƉŽƌĂƚĞ/ĚĞŶƟƚLJEƵŵďĞƌ;/EͿ 3. Registered Address ϱ͘ ͲŵĂŝů/Ě of the Company  K͘W͘:/E>DZ'͕,/^ZͲϭϮϱϬϬϱ͕  ƐƵƐƚĂŝŶĂďŝůŝƚLJΛũŝŶĚĂůƐƚĞĞů͘ĐŽŵ  >ϮϳϭϬϱ,ZϭϵϳϵW>ϬϬϵϵϭϯ ,ZzE͕/ŶĚŝĂ Ϯ͘ EĂŵĞŽĨƚŚĞŽŵƉĂŶLJ 4. Website 6. Financial Year Reported Jindal Steel & Power Limited ǁǁǁ͘ũŝŶĚĂůƐƚĞĞůƉŽǁĞƌ͘ĐŽŵ 2012-13

ϳ͘ ^ĞĐƚŽƌ;ƐͿƚŚĂƚƚŚĞŽŵƉĂŶLJŝƐĞŶŐĂŐĞĚŝŶ;ŝŶĚƵƐƚƌŝĂůĂĐƟǀŝƚLJĐŽĚĞͲǁŝƐĞͿ

Group Class ĞƐĐƌŝƉƟŽŶ 241 2410 DĂŶƵĨĂĐƚƵƌŝŶŐŽĨ^ƚĞĞů 351 3510 'ĞŶĞƌĂƟŽŶŽĨWŽǁĞƌ ƐƉĞƌĐůĂƐƐŝĮĐĂƟŽŶƵŶĚĞƌEĂƟŽŶĂů/ŶĚƵƐƚƌŝĂůůĂƐƐŝĮĐĂƟŽŶ;ϮϬϬϴͿ͕ĞŶƚƌĂů^ƚĂƟƐƟĐĂůKƌŐĂŶŝƐĂƟŽŶ͕DŝŶŝƐƚƌLJŽĨ^ƚĂƟƐƟĐƐĂŶĚ WƌŽŐƌĂŵŵĞ/ŵƉůĞŵĞŶƚĂƟŽŶ͕'ŽǀĞƌŶŵĞŶƚŽĨ/ŶĚŝĂ͕EĞǁĞůŚŝ

8. List three key products/services that the Company manufactures/ provides (as in balance sheet) WůĂƚĞƐΘŽŝůƐപപ WĂƌĂůůĞů&ůĂŶŐĞĞĂŵƐĂŶĚŽůƵŵŶƐപപ MS Rounds ϵ͘ dŽƚĂůŶƵŵďĞƌŽĨůŽĐĂƟŽŶƐǁŚĞƌĞďƵƐŝŶĞƐƐĂĐƟǀŝƚLJŝƐƵŶĚĞƌƚĂŬĞŶďLJƚŚĞŽŵƉĂŶLJ ŝ͘ EƵŵďĞƌŽĨ/ŶƚĞƌŶĂƟŽŶĂů>ŽĐĂƟŽŶƐ;WƌŽǀŝĚĞĚĞƚĂŝůƐŽĨŵĂũŽƌϱͿ  dŚĞŵĂũŽƌŝŶƚĞƌŶĂƟŽŶĂůůŽĐĂƟŽŶƐǁŚĞƌĞ:^W>ŚĂƐďƵƐŝŶĞƐƐĂĐƟǀŝƚLJ͕ƚŚƌŽƵŐŚŝƚƐƐƵďƐŝĚŝĂƌŝĞƐĂŶĚƐƚĞƉͲĚŽǁŶƐƵďƐŝĚŝĂƌŝĞƐ͕ĂƌĞ KŵĂŶ͕^ŽƵƚŚĨƌŝĐĂ͕DŽnjĂŵďŝƋƵĞĂŶĚŽƚƐǁĂŶĂ͘ ŝŝ͘ EƵŵďĞƌŽĨEĂƟŽŶĂů>ŽĐĂƟŽŶƐ ϭ͘ WůĂŶƚƐ͗ State/Union Territory ŚŚĂƫƐŐĂƌŚ KĚŝƐŚĂ :ŚĂƌŬŚĂŶĚ ZĂŝŐĂƌŚ͕ZĂŝƉƵƌ͕ŽŶŐĂŵĂŚƵĂ ŶŐƵů͕Ăƌďŝů͕dĞŶƐĂ Patratu Ϯ͘ DĂƌŬĞƟŶŐKĸĐĞƐ͗  'ƵƌŐĂŽŶ͕ ZĂŝƉƵƌ͕ ŚŽƉĂů͕ ŚĂŶĚŝŐĂƌŚ͕ <ŽĐŚŝ͕ <ŽůŬĂƚĂ͕ :ĂŵƐŚĞĚƉƵƌ͕ ĂŶŐĂůŽƌĞ͕ <ĂŶƉƵƌ͕ DƵŵďĂŝ͕ ŚƵďĂŶĞƐŚǁĂƌ͕ ŚĞŶŶĂŝ͕:ĂŝƉƵƌ͕,LJĚĞƌĂďĂĚ͕>ƵĚŚŝĂŶĂ͕ŚŵĞĚĂďĂĚ͕WƵŶĞ͕EĂŐƉƵƌ͕WĂƚŶĂ͕'ŚĂnjŝĂďĂĚ͕&ĂƌŝĚĂďĂĚĂŶĚsŝnjĂŐ͘

122 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ƵƐŝŶĞƐƐZĞƐƉŽŶƐŝďŝůŝƚLJZĞƉŽƌƚ

ϭϬ͘ DĂƌŬĞƚƐƐĞƌǀĞĚďLJƚŚĞŽŵƉĂŶLJʹ>ŽĐĂůͬ^ƚĂƚĞͬEĂƟŽŶĂůͬ/ŶƚĞƌŶĂƟŽŶĂůͬ  tĞŚĂǀĞĂŐůŽďĂůĨŽŽƚƉƌŝŶƚƚŚĂƚƐĞƌǀĞƐďŽƚŚEĂƟŽŶĂůĂŶĚ/ŶƚĞƌŶĂƟŽŶĂůŵĂƌŬĞƚƐ͘

SECTION B &/EE/>d/>^K&d,KDWEz

ϭ͘ WĂŝĚƵƉĂƉŝƚĂů 2. Total Turnover ϯ͘ dŽƚĂůWƌŽĮƚŌĞƌdĂdžĞƐ  ༤ϵϯ͘ϰϴĐƌŽƌĞ  ༤ϭϱ͕ϭϭϯ͘ϵϴĐƌŽƌĞ  ༤ϭ͕ϱϵϮ͘ϱϱĐƌŽƌĞ

ϰ͘ dŽƚĂů^ƉĞŶĚŝŶŐŽŶŽƌƉŽƌĂƚĞ^ŽĐŝĂůZĞƐƉŽŶƐŝďŝůŝƚLJ;^ZͿĂƐƉĞƌĐĞŶƚĂŐĞŽĨƉƌŽĮƚĂŌĞƌƚĂdž;йͿ  KƵƌƚŽƚĂůƐƉĞŶĚŝŶŐŽŶ^ZŝƐ༤ϵϵ͘ϭϰĐƌŽƌĞǁŚŝĐŚŝƐϲ͘ϮϮйŽĨŽƵƌWd͘ ϱ͘ >ŝƐƚŽĨĂĐƟǀŝƟĞƐŝŶǁŚŝĐŚĞdžƉĞŶĚŝƚƵƌĞŝŶϰĂďŽǀĞŚĂƐďĞĞŶŝŶĐƵƌƌĞĚ

ŽŵŵƵŶŝƚLJ ^Ŭŝůů ,ĞĂůƚŚ ĚƵĐĂƟŽŶ /ŶĨƌĂƐƚƌƵĐƚƵƌĞ ĞǀĞůŽƉŵĞŶƚ

Sports EĂƚƵƌĂů ^ƵƐƚĂŝŶĂďůĞ Women ŝƐĂƐƚĞƌ and Cultural ZĞƐŽƵƌĐĞƐ >ŝǀĞůŝŚŽŽĚ ŵƉŽǁĞƌŵĞŶƚ ZĞůŝĞĨ Bonding Management

SECTION C Kd,Zd/>^

1. Does the Company have any Subsidiary Company/ Companies? zĞƐ͘ Ϯ͘ ŽƚŚĞ^ƵďƐŝĚŝĂƌLJŽŵƉĂŶLJͬŽŵƉĂŶŝĞƐƉĂƌƟĐŝƉĂƚĞŝŶƚŚĞZ/ŶŝƟĂƟǀĞƐŽĨƚŚĞƉĂƌĞŶƚŽŵƉĂŶLJ͍/ĨLJĞƐ͕ƚŚĞŶŝŶĚŝĐĂƚĞƚŚĞŶƵŵďĞƌŽĨ such subsidiary Company(s).  EŽ͘ĂĐŚƐƵďƐŝĚŝĂƌLJĐŽŵƉĂŶLJŚĂƐŝŶĚĞƉĞŶĚĞŶƚďƵƐŝŶĞƐƐƌĞƐƉŽŶƐŝďŝůŝƚLJŝŶŝƟĂƟǀĞƐ͘ ϯ͘ ŽĂŶLJŽƚŚĞƌĞŶƟƚLJͬĞŶƟƟĞƐ;Ğ͘Ő͘ƐƵƉƉůŝĞƌƐ͕ĚŝƐƚƌŝďƵƚŽƌƐĞƚĐ͘ͿƚŚĂƚƚŚĞŽŵƉĂŶLJĚŽĞƐďƵƐŝŶĞƐƐǁŝƚŚ͕ƉĂƌƟĐŝƉĂƚĞŝŶƚŚĞZ ŝŶŝƟĂƟǀĞƐŽĨƚŚĞŽŵƉĂŶLJ͍/ĨLJĞƐ͕ƚŚĞŶŝŶĚŝĐĂƚĞƚŚĞƉĞƌĐĞŶƚĂŐĞŽĨƐƵĐŚĞŶƟƚLJͬĞŶƟƟĞƐ͍΀>ĞƐƐƚŚĂŶϯϬй͕ϯϬͲϲϬй͕DŽƌĞƚŚĂŶ ϲϬй΁ EŽ͘

SECTION D Z/E&KZDd/KE

1. Details of Director/Directors responsible for BR ĂͿ ĞƚĂŝůƐŽĨƚŚĞŝƌĞĐƚŽƌͬŝƌĞĐƚŽƌƐƌĞƐƉŽŶƐŝďůĞĨŽƌŝŵƉůĞŵĞŶƚĂƟŽŶŽĨƚŚĞZƉŽůŝĐLJͬƉŽůŝĐŝĞƐ Sr. WĂƌƟĐƵůĂƌƐ Details EŽ͘ ϭ͘ /EEƵŵďĞƌ ϬϬϬϮϱϵϳϬ Ϯ͘ EĂŵĞ ^ŚƌŝZĂǀŝhƉƉĂů ϯ͘ ĞƐŝŐŶĂƟŽŶ DĂŶĂŐŝŶŐŝƌĞĐƚŽƌΘK ďͿ ĞƚĂŝůƐŽĨƚŚĞZŚĞĂĚ Sr. WĂƌƟĐƵůĂƌƐ Details EŽ͘ ϭ͘ /EEƵŵďĞƌ;ŝĨĂƉƉůŝĐĂďůĞͿ E Ϯ͘ EĂŵĞ ^ŚƌŝZĂũĞĞǀŚĂĚĂƵƌŝĂ ϯ͘ ĞƐŝŐŶĂƟŽŶ ŝƌĞĐƚŽƌͲ,Z ϰ͘ dĞůĞƉŚŽŶĞEƵŵďĞƌ ϬϭϭͲϰϭϰϲϮϰϬϲ ϱ͘ ͲŵĂŝů/Ě ƌĂũĞĞǀ͘ďŚĂĚĂƵƌŝĂΛũŝŶĚĂůƐƚĞĞů͘ĐŽŵ

123 Annual Report 2012-13 Ě^Z WϵͲ ŶƐŝĚĞƌ sĂůƵĞ Customer Customer

WϴͲ 'ƌŽǁƚŚ Inclusive Inclusive

WϳͲ WŽůŝĐLJ Advocacy ƵƐͬƉŽůŝĐŝĞƐ͘ĂƐƉdž͘ ŽĂůůĞŵƉůŽLJĞĞƐ͘ ŐŽǀĞƌŶĂŶĐĞ͘ĂƐƉdž͘ WϲͲ Environment WƌĞǀĞŶƟŽŶŽĨ/ŶƐŝĚĞƌdƌĂĚŝŶŐĂƌĞĂǀĂŝůĂďůĞŽŶ

WϱͲ Rights ,ƵŵĂŶ ŽĚĞŽĨ/ŶƚĞƌŶĂůWƌŽĐĞĚƵƌĞƐĂŶĚŽŶĚƵĐƚĨŽƌWƌĞǀĞŶƟŽŶŽĨ/ ƚWŽůŝĐLJ͕dŽƚĂůWƌŽĚƵĐƟǀŝƚLJDĂŶĂŐĞŵĞŶƚWŽůŝĐLJ͕ŶĞƌŐLJWŽůŝĐLJĂŶ WϰͲ Stakeholder Stakeholder Engagement WϯͲ ǁĞůůͲďĞŝŶŐ Employee’s Employee’s ŚƩƉ͗ͬͬǁǁǁ͘ũŝŶĚĂůƐƚĞĞůƉŽǁĞƌ͘ĐŽŵͬŝŶǀĞƐƚŽƌƐͬĐŽƌƉŽƌĂƚĞͲ KƚŚĞƌƉŽůŝĐŝĞƐĂƌĞĂǀĂŝůĂďůĞŽŶƚŚĞŝŶƚƌĂŶĞƚĂŶĚĂƌĞĂǀĂŝůĂďůĞƚ

WŽůŝĐLJĂƌĞĂǀĂŝůĂďůĞŽŶŚƩƉ͗ͬͬǁǁǁ͘ũŝŶĚĂůƐƚĞĞůƉŽǁĞƌ͘ĐŽŵͬĂďŽƵƚͲ ŶĚŽĨƚŚŝƐƚĂďůĞ͘ WϮͲ WƌŽĚƵĐƚ Life Cycle Cycle Life Sustainability dƌĂĚŝŶŐŝŶ^ŚĂƌĞƐ͕ĂŶĚŽĚĞŽĨŽƌƉŽƌĂƚĞŝƐĐůŽƐƵƌĞWƌĂĐƟĐĞĨŽƌ

zz z zz z z z zzzzzz zzzzzz z zzzzEz z z z zzzzzz E E E EEEEEE and ƚŚŝĐƐ͕ ŽĚĞŽĨŽŶĚƵĐƚĨŽƌŽĂƌĚŽĨŝƌĞĐƚŽƌƐĂŶĚ^ĞŶŝŽƌDĂŶĂŐĞŵĞŶƚ͕ Transparency Transparency Accountability YƵĂůŝƚLJWŽůŝĐLJ͕^ĂĨĞƚLJĂŶĚKĐĐƵƉĂƟŽŶĂů,ĞĂůƚŚWŽůŝĐLJ͕ŶǀŝƌŽŶŵĞŶ 3

2

1 ŽĞƐƚŚĞŽŵƉĂŶLJŚĂǀĞĂ ƐƉĞĐŝĮĞĚĐŽŵŵŝƩĞĞŽĨƚŚĞ ŽĂƌĚͬŝƌĞĐƚŽƌͬKĸĐŝĂůƚŽ ŽǀĞƌƐĞĞƚŚĞŝŵƉůĞŵĞŶƚĂƟŽŶŽĨ ƚŚĞƉŽůŝĐLJ͍ ŽLJŽƵŚĂǀĞƉŽůŝĐLJͬƉŽůŝĐŝĞƐĨŽƌ͘͘͘ ,ĂƐƚŚĞƉŽůŝĐLJďĞĞŶĨŽƌŵƵůĂƚĞĚ ŝŶĐŽŶƐƵůƚĂƟŽŶǁŝƚŚƚŚĞƌĞůĞǀĂŶƚ ƐƚĂŬĞŚŽůĚĞƌƐ͍ ŽĞƐƚŚĞƉŽůŝĐLJĐŽŶĨŽƌŵƚŽ ĂŶLJŶĂƟŽŶĂůͬŝŶƚĞƌŶĂƟŽŶĂů ƐƚĂŶĚĂƌĚƐ͍/ĨLJĞƐ͕ƐƉĞĐŝĨLJ͍ ,ĂƐƚŚĞƉŽůŝĐLJďĞĞŶĂƉƉƌŽǀĞĚ ďLJƚŚĞŽĂƌĚ͍/ĨLJĞƐ͕ŚĂƐŝƚďĞĞŶ ƐŝŐŶĞĚďLJDͬŽǁŶĞƌͬKͬ ĂƉƉƌŽƉƌŝĂƚĞŽĂƌĚŝƌĞĐƚŽƌ͍ /ŶĚŝĐĂƚĞƚŚĞůŝŶŬĨŽƌƚŚĞƉŽůŝĐLJƚŽ ďĞǀŝĞǁĞĚŽŶůŝŶĞ͍ YƵĞƐƟŽŶƐ WϭͲ 1 2 3 Sl. EŽ͘ 5 ϲ 4 Ϯ͘ WƌŝŶĐŝƉůĞͲǁŝƐĞ;ĂƐƉĞƌEs'ƐͿZWŽůŝĐLJͬƉŽůŝĐŝĞƐ;ZĞƉůLJŝŶzͬEͿ͗  dŚĞůŝƐƚŽĨƉŽůŝĐŝĞƐǁŚŝĐŚĂĚĚƌĞƐƐƚŚĞƐĞƉƌŝŶĐŝƉůĞƐŝƐŵĂƉƉĞĚĂƚƚŚĞĞ

124 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ƵƐŝŶĞƐƐZĞƐƉŽŶƐŝďŝůŝƚLJZĞƉŽƌƚ WϵͲ sĂůƵĞ Customer Customer WϴͲ 'ƌŽǁƚŚ Inclusive Inclusive

WϳͲ WŽůŝĐLJ Advocacy WϲͲ Environment ĞĚďLJĞŝƚŚĞƌŝƌĞĐƚŽƌ,ZŽƌDͬK͘

ůŐƵŝĚĞůŝŶĞƐƉƌŽǀŝĚĞĚďLJǀĂƌŝŽƵƐŵŝŶŝƐƚƌŝĞƐ͘ WϱͲ Rights ,ƵŵĂŶ WϰͲ Stakeholder Stakeholder Engagement WϯͲ ǁĞůůͲďĞŝŶŐ Employee’s Employee’s

WϮͲ ĚŽƉĞŶŚŽƵƐĞĂŶĚƚŽǁŶŚĂůůƐĞƐƐŝŽŶƐǁĞƌĞĐŽŶĚƵĐƚĞĚ͘ ƉƌĂĐƟĐĞƐĂŶĚĂƌĞĂůƐŽŝŶůŝŶĞǁŝƚŚƌĞůĞǀĂŶƚŶĂƟŽŶĂ WƌŽĚƵĐƚ Life Cycle Cycle Life Sustainability

ƉƌŽǀĞĚďLJƚŚĞƌĞƐƉĞĐƟǀĞŽĂƌĚŽŵŵŝƩĞĞ͘dŚĞƉŽůŝĐLJŝƐƚŚĞŶƐŝŐŶ zz zz z zz z z zzzzzz z z zzzzzz zzzzzz E EEzEzz and ƚŚŝĐƐ͕ Transparency Transparency Accountability YƵĞƐƟŽŶƐ WϭͲ ƐƚƌƵĐƚƵƌĞƚŽŝŵƉůĞŵĞŶƚƚŚĞƉŽůŝĐLJͬ ƉŽůŝĐŝĞƐ͍ ƌĞĚƌĞƐƐĂůŵĞĐŚĂŶŝƐŵƌĞůĂƚĞĚƚŽƚŚĞ ƉŽůŝĐLJͬƉŽůŝĐŝĞƐƚŽĂĚĚƌĞƐƐƐƚĂŬĞŚŽůĚĞƌƐ͛ ŐƌŝĞǀĂŶĐĞƐƌĞůĂƚĞĚƚŽƚŚĞƉŽůŝĐLJͬ ƉŽůŝĐŝĞƐ͍ ,ĂƐƚŚĞŽŵƉĂŶLJĐĂƌƌŝĞĚŽƵƚ ŝŶĚĞƉĞŶĚĞŶƚĂƵĚŝƚͬĞǀĂůƵĂƟŽŶŽĨƚŚĞ ǁŽƌŬŝŶŐŽĨƚŚŝƐƉŽůŝĐLJďLJĂŶŝŶƚĞƌŶĂůŽƌ ĞdžƚĞƌŶĂůĂŐĞŶĐLJ͍ ,ĂƐƚŚĞƉŽůŝĐLJďĞĞŶĨŽƌŵĂůůLJ ĐŽŵŵƵŶŝĐĂƚĞĚƚŽĂůůƌĞůĞǀĂŶƚŝŶƚĞƌŶĂů ĂŶĚĞdžƚĞƌŶĂůƐƚĂŬĞŚŽůĚĞƌƐ͍ Sl. EŽ͘ ϴ ŽĞƐƚŚĞŽŵƉĂŶLJŚĂǀĞŝŶͲŚŽƵƐĞ ϵ ŽĞƐƚŚĞŽŵƉĂŶLJŚĂǀĞĂŐƌŝĞǀĂŶĐĞ 10 7 ϭ tŚŝůĞĨŽƌŵƵůĂƟŶŐƚŚĞƉŽůŝĐŝĞƐ͕ƚŽƉŵĂŶĂŐĞŵĞŶƚǁĂƐĐŽŶƐƵůƚĞĚĂŶ Ϯ dŚĞƉŽůŝĐŝĞƐĚƌĂǁŝŶƐƉŝƌĂƟŽŶĨƌŽŵŶĂƟŽŶĂůĂŶĚŝŶƚĞƌŶĂƟŽŶĂůďĞƐƚ ϯ WŽůŝĐŝĞƐĂƌĞƌĞǀŝĞǁĞĚďLJƚŚĞŽĂƌĚŵĞŵďĞƌƐĂŶĚĂƉ

ϭϮϱ Annual Report 2012-13 ůůƚŚĞƉŽůŝĐŝĞƐŝŶ:^W>ĂƌĞĐĂƌǀĞĚĨƌŽŵŽƵƌ'ƵŝĚŝŶŐWƌŝŶĐŝƉůĞƐĂŶĚŽƌĞsĂůƵĞƐ͘dŚĞƐĞƉŽůŝĐŝĞƐĂƌĞŵĂƉƉĞĚƚŽĞĂĐŚƉƌŝŶĐŝƉůĞŚĞƌĞƵŶĚĞƌ͗

WƌŝŶĐŝƉůĞ ƉƉůŝĐĂďůĞ:^W>͛ƐƉŽůŝĐŝĞƐ WZ/E/W>ϭ Ă͘ 'ƌŽƵƉŽĚĞŽĨŽŶĚƵĐƚ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚĐŽŶĚƵĐƚĂŶĚŐŽǀĞƌŶƚŚĞŵƐĞůǀĞƐǁŝƚŚƚŚŝĐƐ͕ ď͘ ŽĚĞŽĨŽŶĚƵĐƚĨŽƌŽĂƌĚŽĨŝƌĞĐƚŽƌƐĂŶĚ^ĞŶŝŽƌ dƌĂŶƐƉĂƌĞŶĐLJĂŶĚĐĐŽƵŶƚĂďŝůŝƚLJ Management Đ͘ ŽĚĞŽĨŽƌƉŽƌĂƚĞŝƐĐůŽƐƵƌĞWƌĂĐƟĐĞĨŽƌ WƌĞǀĞŶƟŽŶŽĨ/ŶƐŝĚĞƌdƌĂĚŝŶŐ Ě͘ ŽĚĞŽĨ/ŶƚĞƌŶĂůWƌŽĐĞĚƵƌĞƐĂŶĚŽŶĚƵĐƚĨŽƌ WƌĞǀĞŶƟŽŶŽĨ/ŶƐŝĚĞƌdƌĂĚŝŶŐŝŶ^ŚĂƌĞƐŽĨdŚĞ ŽŵƉĂŶLJ Ğ͘ 'ƌŽƵƉtŚŝƐƚůĞůŽǁĞƌWŽůŝĐLJ WZ/E/W>Ϯ Ă͘ ŶǀŝƌŽŶŵĞŶƚWŽůŝĐLJ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƉƌŽǀŝĚĞŐŽŽĚƐĂŶĚƐĞƌǀŝĐĞƐƚŚĂƚĂƌĞƐĂĨĞĂŶĚ ď͘ YƵĂůŝƚLJWŽůŝĐLJ ĐŽŶƚƌŝďƵƚĞƚŽƐƵƐƚĂŝŶĂďŝůŝƚLJƚŚƌŽƵŐŚŽƵƚƚŚĞŝƌůŝĨĞĐLJĐůĞ Đ͘ dŽƚĂůWƌŽĚƵĐƟǀŝƚLJDĂŶĂŐĞŵĞŶƚWŽůŝĐLJ WZ/E/W>ϯ Ă͘ 'ƌŽƵƉŽĚĞŽĨŽŶĚƵĐƚ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƉƌŽŵŽƚĞƚŚĞǁĞůůͲďĞŝŶŐŽĨĂůůĞŵƉůŽLJĞĞƐ ď͘ ŽĚĞŽĨŽŶĚƵĐƚĨŽƌŽĂƌĚŽĨŝƌĞĐƚŽƌƐĂŶĚ^ĞŶŝŽƌ Management Đ͘ 'ƌŽƵƉtŚŝƐƚůĞůŽǁĞƌWŽůŝĐLJ Ě͘ ^ĂĨĞƚLJΘKĐĐƵƉĂƟŽŶĂů,ĞĂůƚŚWŽůŝĐLJ Ğ͘ ŶǀŝƌŽŶŵĞŶƚWŽůŝĐLJ WZ/E/W>ϰ Ă͘ 'ƌŽƵƉŽĚĞŽĨŽŶĚƵĐƚ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƌĞƐƉĞĐƚƚŚĞŝŶƚĞƌĞƐƚƐŽĨ͕ĂŶĚďĞƌĞƐƉŽŶƐŝǀĞƚŽǁĂƌĚƐ ď͘ ^ZWŽůŝĐLJ ĂůůƐƚĂŬĞŚŽůĚĞƌƐ͕ĞƐƉĞĐŝĂůůLJƚŚŽƐĞǁŚŽĂƌĞĚŝƐĂĚǀĂŶƚĂŐĞĚ͕ǀƵůŶĞƌĂďůĞ and marginalised WZ/E/W>ϱ Ă͘ 'ƌŽƵƉŽĚĞŽĨŽŶĚƵĐƚ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƌĞƐƉĞĐƚĂŶĚƉƌŽŵŽƚĞŚƵŵĂŶƌŝŐŚƚƐ ď͘ 'ƌŽƵƉtŚŝƐƚůĞůŽǁĞƌWŽůŝĐLJ Đ͘ ^ĂĨĞƚLJΘKĐĐƵƉĂƟŽŶĂů,ĞĂůƚŚWŽůŝĐLJ WZ/E/W>ϲ Ă͘ ŽĚĞŽĨŽŶĚƵĐƚĨŽƌŽĂƌĚŽĨŝƌĞĐƚŽƌƐĂŶĚ^ĞŶŝŽƌ Management

ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƌĞƐƉĞĐƚ͕ƉƌŽƚĞĐƚ͕ĂŶĚŵĂŬĞĞīŽƌƚƐƚŽƌĞƐƚŽƌĞƚŚĞ ď͘ ŶǀŝƌŽŶŵĞŶƚWŽůŝĐLJ ĞŶǀŝƌŽŶŵĞŶƚ Đ͘ ŶĞƌŐLJWŽůŝĐLJ Ě͘ 'ƌŽƵƉŽĚĞŽĨŽŶĚƵĐƚ WZ/E/W>ϳ Ă͘ 'ƌŽƵƉŽĚĞŽĨŽŶĚƵĐƚ ƵƐŝŶĞƐƐĞƐ͕ǁŚĞŶĞŶŐĂŐĞĚŝŶŝŶŇƵĞŶĐŝŶŐƉƵďůŝĐĂŶĚƌĞŐƵůĂƚŽƌLJƉŽůŝĐLJ͕ ƐŚŽƵůĚĚŽƐŽŝŶĂƌĞƐƉŽŶƐŝďůĞŵĂŶŶĞƌ WZ/E/W>ϴ Ă͘ ^ZWŽůŝĐLJ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƐƵƉƉŽƌƚŝŶĐůƵƐŝǀĞŐƌŽǁƚŚĂŶĚĞƋƵŝƚĂďůĞĚĞǀĞůŽƉŵĞŶƚ WZ/E/W>ϵ Ă͘ YƵĂůŝƚLJWŽůŝĐLJ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚĞŶŐĂŐĞǁŝƚŚĂŶĚƉƌŽǀŝĚĞǀĂůƵĞƚŽƚŚĞŝƌĐƵƐƚŽŵĞƌƐ ď͘ 'ƌŽƵƉŽĚĞŽĨŽŶĚƵĐƚ ĂŶĚĐŽŶƐƵŵĞƌƐŝŶĂƌĞƐƉŽŶƐŝďůĞŵĂŶŶĞƌ

126 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ƵƐŝŶĞƐƐZĞƐƉŽŶƐŝďŝůŝƚLJZĞƉŽƌƚ

Ϯ͘ /ĨĂŶƐǁĞƌƚŽ^͘EŽ͘ϭĂŐĂŝŶƐƚĂŶLJƉƌŝŶĐŝƉůĞ͕ŝƐ͚EŽ͕͛ƉůĞĂƐĞĞdžƉůĂŝŶǁŚLJ͗

Sl. YƵĞƐƟŽŶƐ Wϭ WϮ Wϯ Wϰ Wϱ Wϲ Wϳ Wϴ Wϵ EŽ͘ 1 dŚĞ ŽŵƉĂŶLJ ŚĂƐ ŶŽƚ ƵŶĚĞƌƐƚŽŽĚ ƚŚĞWƌŝŶĐŝƉůĞƐ 2 dŚĞ ŽŵƉĂŶLJ ŝƐ ŶŽƚ Ăƚ Ă ƐƚĂŐĞ ǁŚĞƌĞ ŝƚ ĮŶĚƐ ŝƚƐĞůĨ ŝŶ Ă ƉŽƐŝƟŽŶ ƚŽ ĨŽƌŵƵůĂƚĞ ĂŶĚ ŝŵƉůĞŵĞŶƚ ƚŚĞ ƉŽůŝĐŝĞƐŽŶƐƉĞĐŝĮĞĚƉƌŝŶĐŝƉůĞƐ 3 dŚĞ ŽŵƉĂŶLJ ĚŽĞƐ ŶŽƚ ŚĂǀĞ EŽƚƉƉůŝĐĂďůĞ ĮŶĂŶĐŝĂů Žƌ ŵĂŶƉŽǁĞƌ ƌĞƐŽƵƌĐĞƐ ĂǀĂŝůĂďůĞĨŽƌƚŚĞƚĂƐŬ 4 /ƚŝƐƉůĂŶŶĞĚƚŽďĞĚŽŶĞǁŝƚŚŝŶŶĞdžƚ ϲŵŽŶƚŚƐ 5 /ƚŝƐƉůĂŶŶĞĚƚŽďĞĚŽŶĞǁŝƚŚŝŶƚŚĞ ŶĞdžƚϭLJĞĂƌ ϲ ŶLJŽƚŚĞƌƌĞĂƐŽŶ;ƉůĞĂƐĞƐƉĞĐŝĨLJͿ

3. Governance related to BR /ŶĚŝĐĂƚĞƚŚĞĨƌĞƋƵĞŶĐLJǁŝƚŚǁŚŝĐŚƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐ͕ŽŵŵŝƩĞĞŽĨƚŚĞŽĂƌĚŽƌKƚŽĂƐƐĞƐƐƚŚĞZƉĞƌĨŽƌŵĂŶĐĞŽĨ ƚŚĞŽŵƉĂŶLJ͘  dŚĞŽĂƌĚŽŵŵŝƩĞĞƐŵĞĞƚŽŶĐĞĞǀĞƌLJƋƵĂƌƚĞƌƚŽĂƐƐĞƐƐƚŚĞZƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚĞŽŵƉĂŶLJ͘ ŽĞƐƚŚĞŽŵƉĂŶLJƉƵďůŝƐŚĂZŽƌĂ^ƵƐƚĂŝŶĂďŝůŝƚLJZĞƉŽƌƚ͍tŚĂƚŝƐƚŚĞŚLJƉĞƌůŝŶŬĨŽƌǀŝĞǁŝŶŐƚŚŝƐƌĞƉŽƌƚ͍,ŽǁĨƌĞƋƵĞŶƚůLJ ŝƚŝƐƉƵďůŝƐŚĞĚ͍  dŚŝƐŝƐƚŚĞĮƌƐƚŶŶƵĂůƵƐŝŶĞƐƐZĞƐƉŽŶƐŝďŝůŝƚLJZĞƉŽƌƚ͘dŚŝƐŝƐďĞŝŶŐƉƵďůŝƐŚĞĚĂƐƉĂƌƚŽĨƚŚĞŶŶƵĂůZĞƉŽƌƚĂŶĚŝƐĂǀĂŝůĂďůĞĂƚ ƚŚĞŽŵƉĂŶLJ͛ƐǁĞďƐŝƚĞǁǁǁ͘ũŝŶĚĂůƐƚĞĞůƉŽǁĞƌ͘ĐŽŵ͘

SECTION E WZ/E/W>ͳt/^WZ&KZDE

WZ/E/W>ϭ Businesses should conduct and govern ŝŶƉůĂĐĞƚŽĞŶƐƵƌĞĐŽŶĮĚĞŶƟĂůŝƚLJĂŶĚƉƌŽƚĞĐƚƚŚĞǁŚŝƐƚůĞ ƚŚĞŵƐĞůǀĞƐǁŝƚŚƚŚŝĐƐ͕dƌĂŶƐƉĂƌĞŶĐLJĂŶĚ ďůŽǁĞƌ ĨƌŽŵ ĂŶLJ ĨŽƌŵ ŽĨ ŚĂƌĂƐƐŵĞŶƚͬǀŝĐƟŵŝƐĂƟŽŶ͘ dŚĞ Accountability ƉŽůŝĐLJĐŽǀĞƌƐŝŶƐƚĂŶĐĞƐƉĞƌƚĂŝŶŝŶŐƚŽŶĞŐůŝŐĞŶĐĞŝŵƉĂĐƟŶŐ ƉƵďůŝĐ ŚĞĂůƚŚ ĂŶĚ ƐĂĨĞƚLJ͕ ĐƌŝŵŝŶĂů ŽīĞŶĐĞ ĂŶĚ ƵŶĞƚŚŝĐĂůͬ ϭ͘ ŽĞƐƚŚĞƉŽůŝĐLJƌĞůĂƟŶŐƚŽĞƚŚŝĐƐ͕ďƌŝďĞƌLJĂŶĚĐŽƌƌƵƉƟŽŶ ĨĂǀŽƵƌĞĚͬďŝĂƐĞĚďĞŚĂǀŝŽƵƌĞƚĐ͘ ĐŽǀĞƌ ŽŶůLJ ƚŚĞ ŽŵƉĂŶLJ͍ zĞƐͬEŽ͘ ŽĞƐ ŝƚ ĞdžƚĞŶĚ Ϯ͘ ,Žǁ ŵĂŶLJ ƐƚĂŬĞŚŽůĚĞƌ ĐŽŵƉůĂŝŶƚƐ ŚĂǀĞ ďĞĞŶ ƌĞĐĞŝǀĞĚ ƚŽ ƚŚĞ 'ƌŽƵƉͬ:ŽŝŶƚ sĞŶƚƵƌĞƐͬ^ƵƉƉůŝĞƌƐͬŽŶƚƌĂĐƚŽƌƐͬ ŝŶ ƚŚĞ ƉĂƐƚ ĮŶĂŶĐŝĂů LJĞĂƌ ĂŶĚ ǁŚĂƚ ƉĞƌĐĞŶƚĂŐĞ ǁĂƐ E'KƐͬKƚŚĞƌƐ͍ ƐĂƟƐĨĂĐƚŽƌŝůLJƌĞƐŽůǀĞĚďLJƚŚĞŵĂŶĂŐĞŵĞŶƚ͍  ƚ :^W>͕ ƚŚĞ ƉƌŝŶĐŝƉůĞƐ ŽĨ ĞƚŚŝĐƐ ĂŶĚ ƚƌĂŶƐƉĂƌĞŶĐLJ ĂƌĞ  Ϯϴ ĐŽŵƉůĂŝŶƚƐ ǁĞƌĞ ƌĞĐĞŝǀĞĚ ĨƌŽŵ ƚŚĞ ŽŵƉĂŶLJ͚Ɛ ĂĚŽƉƚĞĚ ĂĐƌŽƐƐ ƚŚĞ ŽƌŐĂŶŝƐĂƟŽŶ ƚŚƌŽƵŐŚ ŽƵƌ ƉŽůŝĐŝĞƐ ƐŚĂƌĞŚŽůĚĞƌƐͬŝŶǀĞƐƚŽƌƐ ŝŶ ϮϬϭϮͲϭϯ ĂŶĚ Ăůů ƚŚĞƐĞ ǁĞƌĞ ƉĞƌƚĂŝŶŝŶŐ ƚŽ ƚŚŝƐ ƉƌŝŶĐŝƉůĞ͘ dŚĞƐĞ ƉŽůŝĐŝĞƐ ĂƌĞ ĂƉƉůŝĐĂďůĞ ƌĞƐŽůǀĞĚďLJ:^W>ŝŶƚŚĞƐĂŵĞLJĞĂƌ͘ƉĂƌƚĨƌŽŵƚŚĞƐĞ͕ǁĞĚŝĚ ƚŽĂůůĞŵƉůŽLJĞĞƐĂŶĚŽĸĐĞƌƐŽĨ:^W>͕ĂŶĚŝƚƐƐƵďƐŝĚŝĂƌŝĞƐ͘ ŶŽƚƌĞĐĞŝǀĞĂŶLJĐŽŵƉůĂŝŶƚƐŝŶϮϬϭϮͲϭϯ͘ ƚŚŝĐĂů ƌĞƋƵŝƌĞŵĞŶƚƐ ĂƌĞ ŝŵƉŽƐĞĚ ŽŶ ƐƵƉƉůŝĞƌƐ ĂŶĚ ĐŽŶƚƌĂĐƚŽƌƐ ƚŚƌŽƵŐŚ ĂƉƉƌŽƉƌŝĂƚĞ ĐůĂƵƐĞƐ ŝŶ ŽƵƌ ĐŽŶƚƌĂĐƚƐ WZ/E/W>Ϯ Businesses should provide goods and ǁŚŝĐŚƚŚĞĐŽƵŶƚĞƌƉĂƌƚLJŝƐŽďůŝŐĂƚĞĚƚŽĨŽůůŽǁ͘dŚĞƐĞĐůĂƵƐĞƐ services that are safe and contribute to ƉƌŽŚŝďŝƚ ĞŵƉůŽLJŵĞŶƚ ŽĨ ĐŚŝůĚ ůĂďŽƵƌ͕ ĚŝƐĐƌŝŵŝŶĂƟŽŶ ĂŶĚ sustainability throughout their life cycle ŽƚŚĞƌĐŽƌƌƵƉƟǀĞƉƌĂĐƟĐĞƐ͘ ϭ͘ >ŝƐƚƵƉƚŽϯŽĨLJŽƵƌƉƌŽĚƵĐƚƐŽƌƐĞƌǀŝĐĞƐǁŚŽƐĞĚĞƐŝŐŶŚĂƐ  dŚĞ'ƌŽƵƉtŚŝƐƚůĞůŽǁĞƌWŽůŝĐLJĞdžƚĞŶĚƐŽƵƌĐŽŵŵŝƚŵĞŶƚ ŝŶĐŽƌƉŽƌĂƚĞĚƐŽĐŝĂůŽƌĞŶǀŝƌŽŶŵĞŶƚĂůĐŽŶĐĞƌŶƐ͕ƌŝƐŬƐĂŶĚͬ ƚŽ ŚŝŐŚ ƐƚĂŶĚĂƌĚƐ ŽĨ ĞƚŚŝĐĂů ĂŶĚ ƉƌŽĨĞƐƐŝŽŶĂů ĐŽŶĚƵĐƚ ďLJ ŽƌŽƉƉŽƌƚƵŶŝƟĞƐ͘ ƉƌŽǀŝĚŝŶŐ ĞŵƉůŽLJĞĞƐ Ă ĨĂŝƌ ĂŶĚ ƚƌĂŶƐƉĂƌĞŶƚ ƉůĂƞŽƌŵ ĨŽƌ Parallel Flange Beams and Columns- JSPL pioneered the ƌĂŝƐŝŶŐƚŚĞŝƌĐŽŶĐĞƌŶƐ͘^ƵĸĐŝĞŶƚŵĞĐŚĂŶŝƐŵƐŚĂǀĞďĞĞŶƉƵƚ ƉƌŽĚƵĐƟŽŶŽĨŵĞĚŝƵŵĂŶĚŚĞĂǀLJ,ŽƚZŽůůĞĚWĂƌĂůůĞů&ůĂŶŐĞ

127 Annual Report 2012-13 ĞĂŵƐĂŶĚŽůƵŵŶ^ĞĐƟŽŶƐŝŶ/ŶĚŝĂĂŶĚŝƐĂůƐŽƚŚĞůĞĂĚŝŶŐ  :^W> ĂůƐŽ ĞŶŐĂŐĞƐ ǁŝƚŚ ůŽĐĂů ĐŽŶƚƌĂĐƚŽƌƐ ĨŽƌ ŚŝƌŝŶŐ ŽĨ ƐƵƉƉůŝĞƌŝŶ/ŶĚŝĂ͘ƵĞƚŽƚŚĞŚŝŐŚĞƌůŽĂĚĐĂƌƌLJŝŶŐĐĂƉĂĐŝƚLJ͕ ĞƋƵŝƉŵĞŶƚ ;Ğ͘Ő͘ :͕ ŵŝŶŝŶŐ ĞƋƵŝƉŵĞŶƚ͕ ĚŽnjĞƌƐ͕ ƚƌĂĐƚŽƌƐ͕ ƚŚĞƐĞ ƐĞĐƟŽŶƐ ĞŶĂďůĞ ƐĂǀŝŶŐƐ ŝŶ ƐƚĞĞů ĐŽŶƐƵŵƉƟŽŶ ĚƵŵƉĞƌƐ͕ ĞƚĐ͘Ϳ ĂŶĚ ǁŽƌŬĞƌƐ ĨŽƌ ƚŚĞ ĐŽŶƐƚƌƵĐƟŽŶ ĂŶĚ ĂŶĚ ƉƌŽǀŝĚĞ ƵůƟŵĂƚĞ ĚĞƐŝŐŶ ŇĞdžŝďŝůŝƚLJ ƚŽ ƚŚĞ ƐƚƌƵĐƚƵƌĂů ŽƉĞƌĂƟŽŶ ŽĨ ŝƚƐ ƉůĂŶƚƐ͘ DŝŶŽƌ ĨĂďƌŝĐĂƟŽŶ ǁŽƌŬƐ ĂŶĚ ĚĞƐŝŐŶĞƌƐ͘dŚŝƐĂůƐŽƌĞƐƵůƚƐŝŶƌĞĚƵĐĞĚĞŶĞƌŐLJĐŽŶƐƵŵƉƟŽŶ ŵĂƚĞƌŝĂůƐ ĂƌĞ ĂůƐŽ ƐŽƵƌĐĞĚ ĨƌŽŵ ůŽĐĂů ƐƵƉƉůŝĞƌƐ͘ :^W> ŝŶƚƌĂŶƐƉŽƌƚĂƟŽŶĂŶĚĐŽŶƐƚƌƵĐƟŽŶ͘ ĐŽŶƟŶƵŽƵƐůLJ ƚĂŬĞƐ ƐƚĞƉƐ ƚŽ ďƵŝůĚ ĂŶĚ ŝŵƉƌŽǀĞ ƚŚĞ ƐŬŝůůƐ Ϯ͘ &Žƌ ĞĂĐŚ ƐƵĐŚ ƉƌŽĚƵĐƚ͕ ƉƌŽǀŝĚĞ ƚŚĞ ĨŽůůŽǁŝŶŐ ĚĞƚĂŝůƐ ŝŶ ĂŶĚĐĂƉĂĐŝƚLJŽĨƚŚĞůŽĐĂůĐŽŶƚƌĂĐƚŽƌƐ͘sĞŶĚŽƌĚĞǀĞůŽƉŵĞŶƚ ƌĞƐƉĞĐƚŽĨƌĞƐŽƵƌĐĞƵƐĞ;ĞŶĞƌŐLJ͕ǁĂƚĞƌ͕ƌĂǁŵĂƚĞƌŝĂůĞƚĐ͘Ϳ ƉƌŽŐƌĂŵŵĞƐ ĂƌĞ ĞŶĐŽƵƌĂŐĞĚ ĨŽƌ ƚŚĞ ůŽĐĂů ƐƵƉƉůŝĞƌƐ ĂŶĚ ƉĞƌƵŶŝƚŽĨƉƌŽĚƵĐƚ;ŽƉƟŽŶĂůͿ͘ ĂƌĞ ĐŽŶĚƵĐƚĞĚ ŽŶ Ă ƉĞƌŝŽĚŝĐ ďĂƐŝƐ͕ ĚĞƉĞŶĚŝŶŐ ƵƉŽŶ ƚŚĞ ŝŶƚĞƌĂĐƟŽŶƐǁŝƚŚƚŚĞǀĞŶĚŽƌƐ͘  dŚĞ ƉƌŽĚƵĐƚ ͞WĂƌĂůůĞů &ůĂŶŐĞ ĞĂŵƐ ĂŶĚ ŽůƵŵŶƐ͟ ŝƐ ŵĂŶƵĨĂĐƚƵƌĞĚ Ăƚ ŽŶůLJ ŽŶĞ ŽĨ ŽƵƌ ĨĂĐŝůŝƟĞƐ͘ dŚĞ ĞŶĞƌŐLJ  ůůŽƵƌƉůĂŶƚƐƉƌŽĐƵƌĞǀĞŐĞƚĂďůĞƐĂŶĚŽƚŚĞƌĨŽŽĚŝƚĞŵƐĨƌŽŵ ĂŶĚ ǁĂƚĞƌ ĐŽŶƐƵŵƉƟŽŶ ƉĞƌ ƚŽŶŶĞ ŽĨ ĐƌƵĚĞ ƐƚĞĞů ;ƚĐƐͿ ůŽĐĂůƉƌŽĚƵĐĞƌƐĂŶĚǀĞŶĚŽƌƐ͘:^W>ĂůƐŽĞŶŐĂŐĞƐǁŝƚŚƚŚĞƐĞ ƉƌŽĚƵĐƟŽŶĨŽƌƚŚĂƚĞŶƟƌĞĨĂĐŝůŝƚLJŝƐ͗ ůŽĐĂů ǀĞŶĚŽƌƐ ŝŶ ĐĂƉĂĐŝƚLJ ďƵŝůĚŝŶŐ ĂŶĚ ƐŬŝůů ƵƉŐƌĂĚĂƟŽŶ ĂĐƟǀŝƟĞƐ͘/Ŷ:^W>ƚŽǁŶƐŚŝƉƐ͕ůŽĐĂůĨĂƌŵĞƌƐ͕ƵŶĚĞƌƚŚĞĂĞŐŝƐ 2011-12 ϮϬϭϮͲϭϯ ŽĨůŽĐĂů&ĂƌŵĞƌůƵďƐ͕ŚĂǀĞďĞĞŶƉƌŽǀŝĚĞĚĐŽƵŶƚĞƌƐĨŽƌƐĂůĞ ŶĞƌŐLJ;':ͬƚĐƐͿ Ϯϵ͘ϱϴ ϯϬ͘ϭϯ ŽĨǀĞŐĞƚĂďůĞƐĂŶĚĨĂƌŵƉƌŽĚƵĐĞ͘ tĂƚĞƌ;<ŝůŽůŝƚƌĞƐͬƚĐƐͿ Ϯ͘ϱϳ Ϯ͘ϯϰ  /ŶƐŽŵĞŽĨŽƵƌƉůĂŶƚƐ͕ŵŝůŬĂŶĚŵŝůŬƉƌŽĚƵĐƚƐĨŽƌƚŚĞĐŽůŽŶLJ͕ ŐƵĞƐƚŚŽƵƐĞ͕ĐĂŶƚĞĞŶƐ͕ĞƚĐ͘ĂƌĞƐŽƵƌĐĞĚĨƌŽŵƚŚĞůŽĐĂů^ĞůĨ 3. Does the Company have procedures in place for ,ĞůƉ 'ƌŽƵƉƐ ;^,'ƐͿ ƌƵŶ ďLJ ǁŽŵĞŶ͘ dŚĞƐĞ ^,'Ɛ ǁĞƌĞ ƐƵƐƚĂŝŶĂďůĞ ƐŽƵƌĐŝŶŐ ;ŝŶĐůƵĚŝŶŐ ƚƌĂŶƐƉŽƌƚĂƟŽŶͿ͍  /Ĩ LJĞƐ͕ ĂůƐŽ ƉƌŽǀŝĚĞĚ ƚƌĂŝŶŝŶŐƐ ŽŶ ůŝǀĞƐƚŽĐŬ ŵĂŶĂŐĞŵĞŶƚ͕ ďĞƐƚ ǁŚĂƚƉĞƌĐĞŶƚĂŐĞŽĨLJŽƵƌŝŶƉƵƚƐǁĂƐƐŽƵƌĐĞĚƐƵƐƚĂŝŶĂďůLJ͍ ƉƌĂĐƟĐĞƐ͕ ĞƚĐ͘ :^W> ŚĂƐ ĂůƐŽ ƐƵƉƉŽƌƚĞĚ ƚŚĞ ĚĞǀĞůŽƉŵĞŶƚ ůƐŽ͕ƉƌŽǀŝĚĞĚĞƚĂŝůƐƚŚĞƌĞŽĨ͕ŝŶĂďŽƵƚϱϬǁŽƌĚƐŽƌƐŽ͘ ŽĨ ŝƌƌŝŐĂƟŽŶ ĂŶĚ ĂŐƌŝĐƵůƚƵƌĞ ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ŝŶ ƚŚĞ ůŽĐĂů  zĞƐ͕ :^W> ŚĂƐ ƉƵƚ ŝŶ ƉůĂĐĞ ƉƌŽĐĞĚƵƌĞƐ ĨŽƌ ƐŽƵƌĐŝŶŐ ŝŶƉƵƚƐ ĐŽŵŵƵŶŝƟĞƐ͘ dŚƵƐ͕ :^W> ŚĂƐ ŚĞůƉĞĚ ĐƌĞĂƚĞ Ă ƐƵĐĐĞƐƐĨƵů ƐƵƐƚĂŝŶĂďůLJ ĂŶĚ ŝƐ ĂůƐŽ ůŽŽŬŝŶŐ Ăƚ ĨƵƌƚŚĞƌ ŝŶĐŽƌƉŽƌĂƟŶŐ ďƵƐŝŶĞƐƐŵŽĚĞů͕ǁŚŝĐŚƐƚƌĂƚĞŐŝĐĂůůLJďĞŶĞĮƚƐƵƐĂƐǁĞůůĂƐ ƐƵƐƚĂŝŶĂďŝůŝƚLJ ŝŶ ŝƚƐ ƐƵƉƉůLJ ĐŚĂŝŶ͘ /Ŷ ƚŚĞ ĂƌĞĂ ŽĨ ĞƚŚŝĐĂů ƚŚĞůŽĐĂůĐŽŵŵƵŶŝƟĞƐ͘ ƐŽƵƌĐŝŶŐ͕ :^W> ƌĞƋƵŝƌĞƐ ŝƚƐ ƐƵƉƉůŝĞƌƐ ŝŶĐůƵĚŝŶŐ ůĂďŽƵƌ 5. Does the Company have a mechanism to recycle products ĐŽŶƚƌĂĐƚŽƌƐƚŽĨŽůůŽǁŐƵŝĚĞůŝŶĞƐƉĞƌƚĂŝŶŝŶŐƚŽŚƵŵĂŶƌŝŐŚƚƐ ůŝŬĞ ĐŚŝůĚ ůĂďŽƵƌ͕ ǁŽƌŬŝŶŐ ŚŽƵƌƐ͕ ŽĐĐƵƉĂƟŽŶĂů ŚĞĂůƚŚ ĂŶĚ ĂŶĚǁĂƐƚĞ͍/ĨLJĞƐ͕ǁŚĂƚŝƐƚŚĞƉĞƌĐĞŶƚĂŐĞŽĨƌĞĐLJĐůŝŶŐŽĨ ƐĂĨĞƚLJ͘ŽŵƉůŝĂŶĐĞĂŐĂŝŶƐƚƚŚĞƐĞŽďůŝŐĂƟŽŶƐŝƐĐŽŶƟŶƵŽƵƐůLJ ƉƌŽĚƵĐƚƐĂŶĚǁĂƐƚĞ;ƐĞƉĂƌĂƚĞůLJĂƐфϱй͕ϱͲϭϬй͕хϭϬйͿ͘ ŵŽŶŝƚŽƌĞĚďLJŽƵƌƚĞĂŵƐĂŶĚƚŚĞĐŽŶƚƌĂĐƚŽƌŝƐƌĞƉƌŝŵĂŶĚĞĚ  zĞƐ͕ :^W> ŚĂƐ ĂĚŽƉƚĞĚ ƚŚĞ ϯ ͞Z͟Ɛ ;ZĞĚƵĐĞ͕ ZĞƵƐĞ ĂŶĚ ŝŶĐĂƐĞŽĨĂǀŝŽůĂƟŽŶ͘dŚĞƐƵƉƉůŝĞƌƐĂůƐŽŚĂǀĞƚŽĐŽŵƉůLJǁŝƚŚ ZĞĐLJĐůĞͿŝŶŝƚƐŽƉĞƌĂƟŽŶƐĂŶĚŵĂŬĞƐĂůůƉŽƐƐŝďůĞĞīŽƌƚƐƚŽ ĞŶǀŝƌŽŶŵĞŶƚĂůƌĞƋƵŝƌĞŵĞŶƚƐůŝŬĞ/^KϭϰϬϬϭĐĞƌƟĮĐĂƟŽŶ͘ ŵŝŶŝŵŝƐĞ ǁĂƐƚĞ ĂŶĚ ŵĂdžŝŵŝƐĞ ƌĞƵƐĞ ĂŶĚ ƌĞĐLJĐůŝŶŐ͘ :^W>  ƚ ŽŶĞ ŽĨ ŽƵƌ ƵƉĐŽŵŝŶŐ ƉůĂŶƚƐ͕ ǁĞ ƌĞƋƵŝƌĞ Ăůů ƐƵƉƉůŝĞƌƐͬ ŚĂƐůĂŝĚĚŽǁŶƐLJƐƚĞŵĂƟĐƉƌŽĐĞĚƵƌĞƐƚŽŝĚĞŶƟĨLJ͕ƐĞŐƌĞŐĂƚĞ͕ ĐŽŶƚƌĂĐƚŽƌƐͬǀĞŶĚŽƌƐ ƚŽ ĨŽůůŽǁ ^ ϴϬϬϬ ŐƵŝĚĞůŝŶĞƐ͘ dŚĞƐĞ ĂŶĂůLJƐĞ ƚŚĞ ĐŚĞŵŝĐĂůͬ ƉŚLJƐŝĐĂů ĐŽŵƉŽƐŝƟŽŶ ŽĨ ǁĂƐƚĞ ĂŶĚ ŐƵŝĚĞůŝŶĞƐ ƉĞƌƚĂŝŶ ƚŽ ĐƌŝƟĐĂů ĂƐƉĞĐƚƐ ŽĨ ŚƵŵĂŶ ƌŝŐŚƚƐ ƵƐĞŝƚďĂĐŬŝŶƚŚĞƉƌŽĐĞƐƐ͘ ůŝŬĞ ĐŚŝůĚ ůĂďŽƵƌ͕ ĨŽƌĐĞĚ ĂŶĚ ĐŽŵƉƵůƐŽƌLJ ůĂďŽƵƌ͕ ŚĞĂůƚŚ  ϭϬϬ й ŽĨ ǁĂƐƚĞǁĂƚĞƌ ŐĞŶĞƌĂƚĞĚ ĚƵƌŝŶŐ ƚŚĞ ŽƉĞƌĂƟŽŶƐ ŝƐ ĂŶĚ ƐĂĨĞƚLJ͕ ĨƌĞĞĚŽŵ ŽĨ ĂƐƐŽĐŝĂƟŽŶ ĂŶĚƌŝŐŚƚ ƚŽ ĐŽůůĞĐƟǀĞ ƚƌĞĂƚĞĚ ŝŶ ŋƵĞŶƚ dƌĞĂƚŵĞŶƚ WůĂŶƚ ;dWͿ ĂŶĚ ƵƟůŝƐĞĚ ĨŽƌ ďĂƌŐĂŝŶŝŶŐ͕ ĚŝƐĐƌŝŵŝŶĂƟŽŶ͕ ĚŝƐĐŝƉůŝŶĂƌLJ ƉƌĂĐƟĐĞƐ͕ ĂŶĚ ĂĐƟǀŝƟĞƐ ƐƵĐŚ ĂƐ ĚƵƐƚ ƐƵƉƉƌĞƐƐŝŽŶ͕ ŚŽƌƟĐƵůƚƵƌĞ͕ ĞƚĐ͘ ϭϬϬ ƌĞŵƵŶĞƌĂƟŽŶĂŶĚǁŽƌŬŝŶŐŚŽƵƌƐ͘ йŽĨƚŚĞŽƌŐĂŶŝĐǁĂƐƚĞŐĞŶĞƌĂƚĞĚĂƚ:^W>ŝƐĐŽŶǀĞƌƚĞĚŝŶƚŽ  tĞĂƌĞĂůƐŽƉůĂŶŶŝŶŐƚŽĐŽŶƐƚƌƵĐƚĂϮϭϬŬŵůŽŶŐƉŝƉĞůŝŶĞ ŵĂŶƵƌĞ ĂŶĚ ƵƟůŝƐĞĚ ŝŶͲŚŽƵƐĞ͘ ƚ ŽŶĞ ŽĨ ŽƵƌ ƉůĂŶƚƐ͕ ƚŚĞ ĨŽƌƚƌĂŶƐƉŽƌƟŶŐŝƌŽŶŽƌĞŝŶƐůƵƌƌLJĨŽƌŵĚŝƌĞĐƚůLJĨƌŽŵ ƚŚĞ ŽŵƉĂŶLJ ŚĂƐ ŝŶƐƚĂůůĞĚ Ă ϯ dW ďŝŽͲŵĞƚŚĂŶĂƟŽŶ ƉůĂŶƚ ƚŽ ƐŽƵƌĐĞ ƚŽ ŽŶĞ ŽĨ ŽƵƌ ŶĞǁ ƉůĂŶƚƐ͘ dŚĞ ƉŝƉĞůŝŶĞ ǁŝůů ĞŶƚĂŝů ŐĞŶĞƌĂƚĞďŝŽŐĂƐĨƌŽŵŽƌŐĂŶŝĐǁĂƐƚĞƐ͘ ĞŶǀŝƌŽŶŵĞŶƚĂůďĞŶĞĮƚƐďLJĂǀŽŝĚŝŶŐĚƵƐƚĂŶĚŶŽŝƐĞƉŽůůƵƟŽŶ  dŚĞ ŇLJ ĂƐŚ ŐĞŶĞƌĂƚĞĚ ŝŶ ŽƵƌ ƉůĂŶƚƐ ŝƐ ƵƟůŝƐĞĚ ĞŝƚŚĞƌ ŝŶ ĂŶĚǁŝůůƚŚƵƐƉŽƐŝƟǀĞůLJŝŵƉĂĐƚƚŚĞůŽĐĂůĐŽŵŵƵŶŝƟĞƐ͘ ďĂĐŬ ĮůůŝŶŐ ŽĨ ƚŚĞ ĐŽĂů ŵŝŶĞ Žƌ ŝŶ Đŝǀŝů ǁŽƌŬƐ Žƌ ďƌŝĐŬ ϰ͘ ,ĂƐ ƚŚĞ ŽŵƉĂŶLJ ƚĂŬĞŶ ĂŶLJ ƐƚĞƉƐ ƚŽ ƉƌŽĐƵƌĞ ŐŽŽĚƐ ŵĂŶƵĨĂĐƚƵƌŝŶŐ͘ ϭϬϬ й ŽĨ ƚŚĞ ŽǀĞƌďƵƌĚĞŶ ŐĞŶĞƌĂƚĞĚ ĂŶĚ ƐĞƌǀŝĐĞƐ ĨƌŽŵ ůŽĐĂů Θ ƐŵĂůů ƉƌŽĚƵĐĞƌƐ͕ ŝŶĐůƵĚŝŶŐ ĨƌŽŵƚŚĞŝƌŽŶŽƌĞŵŝŶĞŝƐƵƟůŝƐĞĚŝŶƌĞĐůĂŝŵŝŶŐƚŚĞŵŝŶĞĚ ĐŽŵŵƵŶŝƟĞƐ ƐƵƌƌŽƵŶĚŝŶŐ ƚŚĞŝƌ ƉůĂĐĞ ŽĨ ǁŽƌŬ͍ /Ĩ LJĞƐ͕ ĂƌĞĂƐ͕ǁŚŝĐŚĂƌĞƚŚĞŶƵƟůŝƐĞĚĨŽƌƉůĂŶƚĂƟŽŶĂĐƟǀŝƟĞƐ͘dŚĞ ǁŚĂƚƐƚĞƉƐŚĂǀĞďĞĞŶƚĂŬĞŶƚŽŝŵƉƌŽǀĞƚŚĞŝƌĐĂƉĂĐŝƚLJĂŶĚ ůĞŌŽǀĞƌͬďLJͲƉƌŽĚƵĐƚƐƐƵĐŚĂƐŵŝůůƐĐĂůĞ͕ŵĞƚĂůĐŚŝƉƐĂŶĚƐůĂŐ capability of local and small vendors? ĂƌĞƌĞĐLJĐůĞĚĂƐƌĂǁŵĂƚĞƌŝĂůƐĨŽƌǀĂƌŝŽƵƐƉƌŽĐĞƐƐĞƐ͘KƚŚĞƌ  zĞƐ͕ :^W> ǀĂůƵĞƐ ůŽĐĂů ƉƌŽĐƵƌĞŵĞŶƚ ĂŶĚ ƚĂŬĞƐ ƐƚĞƉƐ ƚŽ ŚĂnjĂƌĚŽƵƐǁĂƐƚĞƐ͕ǁŚŝĐŚĐĂŶŶŽƚďĞƌĞĐLJĐůĞĚ͕ĂƌĞĚŝƐƉŽƐĞĚͲ ƉƌŽĐƵƌĞŐŽŽĚƐĂŶĚƐĞƌǀŝĐĞƐĨƌŽŵůŽĐĂůΘƐŵĂůůƉƌŽĚƵĐĞƌƐ ŽīƚŚƌŽƵŐŚĂƵƚŚŽƌŝƐĞĚƌĞĐLJĐůĞƌƐ͘ ĂŶĚ ǀĞŶĚŽƌƐ ƐƉĞĐŝĮĐĂůůLJ ƌĞůĂƚĞĚ ƚŽ ŚŝƌŝŶŐ ŽĨ ĞƋƵŝƉŵĞŶƚ ĂŶĚ ƐĞƌǀŝĐĞƐ ĂŶĚ ƉƌŽĐƵƌĞŵĞŶƚ ŽĨ ŵŝŶŽƌ ƌĂǁ ŵĂƚĞƌŝĂůƐ͕ ƐƚĂƟŽŶĂƌLJŝƚĞŵƐĂŶĚĨŽŽĚƐƵƉƉůŝĞƐ͘

128 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ƵƐŝŶĞƐƐZĞƐƉŽŶƐŝďŝůŝƚLJZĞƉŽƌƚ

WZ/E/W>ϯ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƉƌŽŵŽƚĞƚŚĞǁĞůůͲďĞŝŶŐ ϱ͘ ŽLJŽƵŚĂǀĞĂŶĞŵƉůŽLJĞĞĂƐƐŽĐŝĂƟŽŶƚŚĂƚŝƐƌĞĐŽŐŶŝƐĞĚ by management? of all employees  :ŝŶĚĂů ^ƚĞĞů Θ WŽǁĞƌ &ĂĐƚŽƌLJ tŽƌŬĞƌƐ hŶŝŽŶ Ăƚ ϭ͘ WůĞĂƐĞŝŶĚŝĐĂƚĞƚŚĞdŽƚĂůŶƵŵďĞƌŽĨĞŵƉůŽLJĞĞƐ͘ ZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ͕ĞdžŝƐƟŶŐƐŝŶĐĞϭϵϵϰ͘  ϳ͕ϰϴϴ  :ŝŶĚĂů^ƚĞĞůΘWŽǁĞƌDĂnjĚŽŽƌ^ĂŶŐŚĂ͕Ăƚ^ĂŶŬĞƌũĂŶŐĂ͕ ŝƐƚ͘ ŶŐƵů͕ KĚŝƐŚĂ͕ ĞdžŝƐƟŶŐ ƐŝŶĐĞ ^ĞƉƚĞŵďĞƌ ϮϬϭϬ Ϯ͘ WůĞĂƐĞŝŶĚŝĐĂƚĞƚŚĞdŽƚĂůŶƵŵďĞƌŽĨĞŵƉůŽLJĞĞƐŚŝƌĞĚŽŶ ;ĨŽƌĐŽŶƚƌĂĐƚǁŽƌŬĞƌƐͿ͘ temporary/contractual/casual basis. 740  :ŝŶĚĂů DĂnjĚŽŽƌ ^ĂďŚĂ͕ Ăƚ ĂĚŬĞƌũĂŶŐĂ͕ ŝƐƚ͘ ŶŐƵů͕ KĚŝƐŚĂ͕ ĞdžŝƐƟŶŐ ƐŝŶĐĞ EŽǀĞŵďĞƌ ϮϬϭϭ ;ĨŽƌ ĐŽŶƚƌĂĐƚ ϯ͘ WůĞĂƐĞŝŶĚŝĐĂƚĞƚŚĞEƵŵďĞƌŽĨƉĞƌŵĂŶĞŶƚǁŽŵĞŶĞŵƉůŽLJĞĞƐ͘ ǁŽƌŬĞƌƐͿ͘  Ϯϵϵ 6. What percentage of your permanent employees is ϰ͘ WůĞĂƐĞ ŝŶĚŝĐĂƚĞ ƚŚĞ EƵŵďĞƌ ŽĨ ƉĞƌŵĂŶĞŶƚ ĞŵƉůŽLJĞĞƐ ŵĞŵďĞƌƐŽĨƚŚŝƐƌĞĐŽŐŶŝƐĞĚĞŵƉůŽLJĞĞĂƐƐŽĐŝĂƟŽŶ͍ ǁŝƚŚĚŝƐĂďŝůŝƟĞƐ͘  ϭϬϬйĂƚZĂŝŐĂƌŚ͕ŚŚĂƫƐŐĂƌŚ;EŽŶͲdžĞĐƵƟǀĞWĞƌŵĂŶĞŶƚ 5 ŵƉůŽLJĞĞƐͿ

ϳ͘ WůĞĂƐĞŝŶĚŝĐĂƚĞƚŚĞEƵŵďĞƌŽĨĐŽŵƉůĂŝŶƚƐƌĞůĂƟŶŐƚŽĐŚŝůĚůĂďŽƵƌ͕ĨŽƌĐĞĚůĂďŽƵƌ͕ŝŶǀŽůƵŶƚĂƌLJůĂďŽƵƌ͕ƐĞdžƵĂůŚĂƌĂƐƐŵĞŶƚŝŶƚŚĞ ůĂƐƚĮŶĂŶĐŝĂůLJĞĂƌĂŶĚƉĞŶĚŝŶŐ͕ĂƐŽŶƚŚĞĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͘ ^͘EŽ͘ Category EŽŽĨĐŽŵƉůĂŝŶƚƐĮůĞĚĚƵƌŝŶŐ EŽŽĨĐŽŵƉůĂŝŶƚƐƉĞŶĚŝŶŐĂƐ ƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ ŽŶĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ ϭ͘ ŚŝůĚůĂďŽƵƌͬĨŽƌĐĞĚůĂďŽƵƌͬŝŶǀŽůƵŶƚĂƌLJůĂďŽƵƌ Eŝů Eŝů Ϯ͘ ^ĞdžƵĂůŚĂƌĂƐƐŵĞŶƚ Eŝů Eŝů ϯ͘ ŝƐĐƌŝŵŝŶĂƚŽƌLJĞŵƉůŽLJŵĞŶƚ Eŝů Eŝů

ϴ͘ tŚĂƚƉĞƌĐĞŶƚĂŐĞŽĨLJŽƵƌƵŶĚĞƌŵĞŶƟŽŶĞĚĞŵƉůŽLJĞĞƐǁĞƌĞŐŝǀĞŶƐĂĨĞƚLJΘƐŬŝůůƵƉŐƌĂĚĂƟŽŶƚƌĂŝŶŝŶŐŝŶƚŚĞůĂƐƚLJĞĂƌ͍ WĂƌƟĐƵůĂƌƐ й WĞƌŵĂŶĞŶƚŵƉůŽLJĞĞƐ 75 WĞƌŵĂŶĞŶƚtŽŵĞŶŵƉůŽLJĞĞƐ ϳϵ ĂƐƵĂůͬdĞŵƉŽƌĂƌLJͬŽŶƚƌĂĐƚƵĂůŵƉůŽLJĞĞƐ 100 ŵƉůŽLJĞĞƐǁŝƚŚŝƐĂďŝůŝƟĞƐ 100

WZ/E/W>ϰ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƌĞƐƉĞĐƚƚŚĞŝŶƚĞƌĞƐƚƐŽĨ͕ ĂŶĚďĞƌĞƐƉŽŶƐŝǀĞƚŽǁĂƌĚƐĂůůƐƚĂŬĞŚŽůĚĞƌƐ͕ ĞƐƉĞĐŝĂůůLJƚŚŽƐĞǁŚŽĂƌĞĚŝƐĂĚǀĂŶƚĂŐĞĚ͕ vulnerable and marginalised

ϭ͘ ,ĂƐ ƚŚĞ ŽŵƉĂŶLJ ŵĂƉƉĞĚ ŝƚƐ ŝŶƚĞƌŶĂů ĂŶĚ ĞdžƚĞƌŶĂů stakeholders?  zĞƐ͕:^W>ŚĂƐŵĂƉƉĞĚŝƚƐŝŶƚĞƌŶĂůĂŶĚĞdžƚĞƌŶĂůƐƚĂŬĞŚŽůĚĞƌƐ ĂŶĚ ŚĂƐ ƌĞĐŽŐŶŝƐĞĚ ĞŵƉůŽLJĞĞƐ͕ ĐƵƐƚŽŵĞƌƐ͕ ƐŚĂƌĞŚŽůĚĞƌƐͬ ŝŶǀĞƐƚŽƌƐ͕ ŐŽǀĞƌŶŵĞŶƚƐ ĂŶĚ ƌĞŐƵůĂƚŽƌLJ ĂƵƚŚŽƌŝƟĞƐ͕ ĐŽŵŵƵŶŝƟĞƐ ƐƵƌƌŽƵŶĚŝŶŐ ŽƵƌ ŽƉĞƌĂƟŽŶƐ ;ŝŶĐůƵĚŝŶŐ ĚŝƐƉůĂĐĞĚ ĨĂŵŝůŝĞƐͿ͕ ďƵƐŝŶĞƐƐ ƉĂƌƚŶĞƌƐ ;ƐƵƉƉůŝĞƌƐ͕ ĚŝƐƚƌŝďƵƚŽƌƐ͕ĐŽŶƚƌĂĐƚŽƌƐ͕ƐƚŽĐŬLJĂƌĚŽƉĞƌĂƚŽƌƐĞƚĐ͘Ϳ͕ƉĂƌƚŶĞƌ E'KƐ͕ŵĞĚŝĂ͕ĂŶĚŝŶĚƵƐƚƌLJĂŶĚƚƌĂĚĞĂƐƐŽĐŝĂƟŽŶƐĂƐŝƚƐŬĞLJ ƐƚĂŬĞŚŽůĚĞƌƐ͘ Ϯ͘ KƵƚ ŽĨ ƚŚĞ ĂďŽǀĞ͕ ŚĂƐ ƚŚĞ ŽŵƉĂŶLJ ŝĚĞŶƟĮĞĚ ƚŚĞ ĚŝƐĂĚǀĂŶƚĂŐĞĚ͕ǀƵůŶĞƌĂďůĞΘŵĂƌŐŝŶĂůŝƐĞĚƐƚĂŬĞŚŽůĚĞƌƐ͍  zĞƐ͕ :^W> ŚĂƐ ŝĚĞŶƟĮĞĚ ĚŝƐĂĚǀĂŶƚĂŐĞĚ͕ ǀƵůŶĞƌĂďůĞ Θ ŵĂƌŐŝŶĂůŝƐĞĚƐƚĂŬĞŚŽůĚĞƌƐ͘

129 Annual Report 2012-13 ϯ͘ ƌĞ ƚŚĞƌĞ ĂŶLJ ƐƉĞĐŝĂů ŝŶŝƟĂƟǀĞƐ ƚĂŬĞŶ ďLJ ƚŚĞ ŽŵƉĂŶLJ ƚŽ ĞŶŐĂŐĞ ǁŝƚŚ ƚŚĞ ĚŝƐĂĚǀĂŶƚĂŐĞĚ͕ ǀƵůŶĞƌĂďůĞ ĂŶĚ ŵĂƌŐŝŶĂůŝƐĞĚ ƐƚĂŬĞŚŽůĚĞƌƐ͍/ĨƐŽ͕ƉƌŽǀŝĚĞĚĞƚĂŝůƐƚŚĞƌĞŽĨ͕ŝŶĂďŽƵƚϱϬǁŽƌĚƐŽƌƐŽ͘  zĞƐ͕ ĂƐ ƉĂƌƚ ŽĨ ŽƵƌ ŽƌƉŽƌĂƚĞ ^ŽĐŝĂů ZĞƐƉŽŶƐŝďŝůŝƚLJ ;^ZͿ ŝŶŝƟĂƟǀĞƐ͕ ǁĞ ƵŶĚĞƌƚĂŬĞ ĂĐƟǀŝƟĞƐ ĨŽƌ ƚŚĞ ďĞŶĞĮƚ ŽĨ ƚŚĞ ŝĚĞŶƟĮĞĚ ĚŝƐĂĚǀĂŶƚĂŐĞĚƐƚĂŬĞŚŽůĚĞƌŐƌŽƵƉƐ͘&ĞǁŝŶŝƟĂƟǀĞƐĂƌĞůŝƐƚĞĚďĞůŽǁ͗

Stakeholder Group

DŝŐƌĂŶƚtŽƌŬĞƌƐ Women

/ŶŝƟĂƟǀĞƐ /ŶŝƟĂƟǀĞƐ

 ǁĂƌĞŶĞƐƐŽŶ,ĞĂůƚŚƌĞůĂƚĞĚŝƐƐƵĞƐĂŶĚƐĂŶŝƚĂƟŽŶ  &ŽƌŵŝŶŐŶĞǁƐĞůĨͲŚĞůƉŐƌŽƵƉƐ;^,'ƐͿĂŶĚƐƚƌĞŶŐƚŚĞŶŝŶŐ ĞdžŝƐƟŶŐŽŶĞƐ  sŽůƵŶƚĂƌLJ,/sͬ/^ƚĞƐƟŶŐ  ^ŬŝůůĚĞǀĞůŽƉŵĞŶƚĂŶĚŝŶĐŽŵĞŐĞŶĞƌĂƟŽŶĂĐƟǀŝƟĞƐůŝŬĞ  ĂƌĂŵďŚͲ WƌĞƐĐŚŽŽů ƉƌŽŐƌĂŵŵĞ ĨŽƌ ŵŝŐƌĂŶƚ ǁŽƌŬĞƌƐ͛ ƚĂŝůŽƌŝŶŐ͕ ƐƟƚĐŚŝŶŐ͕ ƉƌĞƉĂƌŝŶŐ ũƵƚĞ ƉƌŽĚƵĐƚƐ͕ ĂŐĂƌďĂƫ ĐŚŝůĚƌĞŶ ŵĂŬŝŶŐĞƚĐ͘  /ŶĐƌĞĂƐŝŶŐĂĐĐĞƐƐƚŽĐƌĞĚŝƚ Girl Child  ,ĞĂůƚŚ ĐĂŵƉƐ ŝŶĐůƵĚŝŶŐ ƉƌŽŐƌĂŵŵĞƐ ĨŽƌ ƉƌĞŐŶĂŶƚ women and mothers /ŶŝƟĂƟǀĞƐ

 <ŝƐŚŽƌŝĞdžƉƌĞƐƐͲĚŽůĞƐĐĞŶƚĂŶĂĞŵŝĂĐŽŶƚƌŽůůŝŶŐƉƌŽŐƌĂŵŵĞ ŝīĞƌĞŶƚůLJͲĂďůĞĚ/ŶĚŝǀŝĚƵĂůƐ  <ŝƐŚŽƌŝ DĂŶĚĂůƐ Ͳ ZĞƉƌŽĚƵĐƟǀĞ ŚĞĂůƚŚ ĂŶĚ ƉĞƌƐŽŶĂů ŚLJŐŝĞŶĞĂǁĂƌĞŶĞƐƐƉƌŽŐƌĂŵŵĞ /ŶŝƟĂƟǀĞƐ

 ,ĞĂůƚŚĂŶĚŶƵƚƌŝƟŽŶĂǁĂƌĞŶĞƐƐĐĂŵƉƐ  ƐŚĂ ĐĞŶƚƌĞƐ ʹ WƌŽǀŝĚŝŶŐ ĐŚŝůĚƌĞŶ ǁŝƚŚ ƐƉĞĐŝĂů ŶĞĞĚƐ  ^ĐŚŽůĂƌƐŚŝƉƉƌŽŐƌĂŵŵĞƐ Ă ƉůĂƞŽƌŵ ƚŽ ĂĐĐĞƐƐ ĐŽŵŵƵŶŝƚLJ ďĂƐĞĚ ƌĞŚĂďŝůŝƚĂƟŽŶ ƐĞƌǀŝĐĞƐ  ŽƵŶƐĞůůŝŶŐĨŽƌĨĂŵŝůŝĞƐĂŶĚƉĂƌĞŶƚƐ

dƌŝďĂůWĞŽƉůĞ  ĂŵƉƐĨŽƌƌĂŝƐŝŶŐĂǁĂƌĞŶĞƐƐĂŶĚǀŽĐĂƟŽŶĂůĐŽƵƌƐĞƐ

/ŶŝƟĂƟǀĞƐ Elderly  ŝƌŽŚĂƌ dƌŝďĂů ĞǀĞůŽƉŵĞŶƚ  ƉƌŽŐƌĂŵŵĞ Ăƚ WĂƚƌĂƚƵ͕ :ŚĂƌŬŚĂŶĚ ʹ ĞǀĞůŽƉŵĞŶƚ ŽƌŝĞŶƚĞĚ ĂĐƟǀŝƟĞƐ ǁŝƚŚ /ŶŝƟĂƟǀĞƐ ĨŽĐƵƐĞĚ ŝŶŝƟĂƟǀĞƐ ĨŽƌ ǁŽŵĞŶ͕ ĐŚŝůĚƌĞŶ ĂŶĚ ŵĂƌŐŝŶĂů ĚĂŝƌLJĨĂƌŵĞƌƐ  ,ĞĂůƚŚĐĂŵƉƐ

WZ/E/W>ϱ Businesses should respect and promote ĂƐƉĞĐƚƐ ŽĨ ĚŝƐĐƌŝŵŝŶĂƟŽŶ ĂŶĚ ŚĂƌĂƐƐŵĞŶƚ ĂŶĚ ƌĞŝŶĨŽƌĐĞƐ human rights :^W>͛ƐǀĂůƵĞŽĨďĞŝŶŐĂŶĞƋƵĂůŽƉƉŽƌƚƵŶŝƚLJĞŵƉůŽLJĞƌŝŶĂůů ĂƐƉĞĐƚƐ͘tĞŚĂǀĞnjĞƌŽƚŽůĞƌĂŶĐĞĨŽƌĚŝƐĐƌŝŵŝŶĂƟŽŶďĂƐĞĚ ŽŶ ĂŶLJ ŐƌŽƵŶĚƐ͘ ůů ŽƵƌ ƉĂƌƚŶĞƌƐ ;ƐƵƉƉůŝĞƌƐ͕ ĐŽŶƚƌĂĐƚŽƌƐ͕ 1. Does the policy of the Company on human rights cover E'KƐͿ ĂƌĞ ĐŽŶƚƌĂĐƚƵĂůůLJ ŽďůŝŐĞĚ ƚŽ ƌĞƐƉĞĐƚ ŚƵŵĂŶ ƌŝŐŚƚƐ ŽŶůLJƚŚĞŽŵƉĂŶLJŽƌĞdžƚĞŶĚƚŽƚŚĞ'ƌŽƵƉͬ:ŽŝŶƚsĞŶƚƵƌĞƐͬ ǁŚŝĐŚ ĂŵŽŶŐ ŽƚŚĞƌ ĂƐƉĞĐƚƐ ƉƌŽŚŝďŝƚ ĐŚŝůĚ ĞŵƉůŽLJŵĞŶƚ͕ ^ƵƉƉůŝĞƌƐͬŽŶƚƌĂĐƚŽƌƐͬE'KƐͬKƚŚĞƌƐ͍ ŐƵĂƌĂŶƚĞĞƐŵŝŶŝŵƵŵǁĂŐĞƐĂŶĚƐƉĞĐŝĮĞƐŽƚŚĞƌĞŵƉůŽLJĞĞ  dŚĞ ŝƐƐƵĞƐ ƌĞůĂƚĞĚ ƚŽ ŚƵŵĂŶ ƌŝŐŚƚƐ ĂƌĞ ĐŽǀĞƌĞĚ ƵŶĚĞƌ ǁĞůĨĂƌĞƌĞŐƵůĂƟŽŶƐƉĞƌƚĂŝŶŝŶŐƚŽǁĂŐĞƐĂŶĚǁŽƌŬŝŶŐŚŽƵƌƐ͘ ŽƵƌ'ƌŽƵƉŽĚĞŽĨŽŶĚƵĐƚ͕'ƌŽƵƉtŚŝƐƚůĞůŽǁĞƌWŽůŝĐLJ  tĞ ĂƌĞ ĐŽŵŵŝƩĞĚ ƚŽ ƉƌŽǀŝĚŝŶŐ ƐĂĨĞ ĂŶĚ ŚĞĂůƚŚLJ ǁŽƌŬ ĂŶĚ ^ĂĨĞƚLJ Θ KĐĐƵƉĂƟŽŶĂů ,ĞĂůƚŚ WŽůŝĐLJ ĂŶĚ ĂƌĞ ĂůƐŽ ĞŶǀŝƌŽŶŵĞŶƚ ĨŽƌ Ăůů ŽƵƌ ĞŵƉůŽLJĞĞƐ ƚŚƌŽƵŐŚ ŽƵƌ ^ĂĨĞƚLJ ĞŵďĞĚĚĞĚ ŝŶ ŽƵƌ ĐŽƌƉŽƌĂƚĞ 'ƵŝĚŝŶŐ WƌŝŶĐŝƉůĞƐ͘ dŚĞƐĞ Θ KĐĐƵƉĂƟŽŶĂů ,ĞĂůƚŚ WŽůŝĐLJ ǁŚŝĐŚ ĐŽǀĞƌƐ Ăůů ĂƐƉĞĐƚƐ ŽĨ ƉŽůŝĐŝĞƐĂƌĞĂƉƉůŝĐĂďůĞƚŽĂůůĞŵƉůŽLJĞĞƐĂŶĚŽĸĐĞƌƐŽĨ:^W> ŽĐĐƵƉĂƟŽŶĂů ŚĞĂůƚŚ ĂŶĚ ƐĂĨĞƚLJ ŚĂnjĂƌĚƐ͘ ůů ĐŽŶƚƌĂĐƚŽƌƐ ĂŶĚŝƚƐƐƵďƐŝĚŝĂƌŝĞƐ͘dŚĞ'ƌŽƵƉŽĚĞŽĨŽŶĚƵĐƚĐŽǀĞƌƐĂůů ĂŶĚ ƚŚĞŝƌ ůĂďŽƵƌĞƌƐ ĂƌĞ ĂůƐŽ ƌĞƋƵŝƌĞĚ ƚŽ ĂďŝĚĞ ďLJ ƚŚĞ

130 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ƵƐŝŶĞƐƐZĞƐƉŽŶƐŝďŝůŝƚLJZĞƉŽƌƚ

ƐĂĨĞƚLJƉƌŝŶĐŝƉůĞƐĂƉƉůŝĐĂďůĞĂƚĞĂĐŚƉůĂŶƚůŽĐĂƟŽŶ͘ůůŽƵƌ ϱ͘ ,ĂƐ ƚŚĞ ŽŵƉĂŶLJ ƵŶĚĞƌƚĂŬĞŶ ĂŶLJ ŽƚŚĞƌ ŝŶŝƟĂƟǀĞƐ ĨĂĐŝůŝƟĞƐĂƌĞK,^^ͲϭϴϬϬϭĐĞƌƟĮĞĚ͘/ŶĂĚĚŝƟŽŶ͕ĂƚŽŶĞŽĨ ŽŶ ʹ ĐůĞĂŶ ƚĞĐŚŶŽůŽŐLJ͕ ĞŶĞƌŐLJ ĞĸĐŝĞŶĐLJ͕ ƌĞŶĞǁĂďůĞ ŽƵƌƵƉĐŽŵŝŶŐĨĂĐŝůŝƟĞƐ͕ĂůůĐŽŶƚƌĂĐƚŽƌƐŚĂǀĞƚŽĨŽůůŽǁƚŚĞ^ ĞŶĞƌŐLJ͕ ĞƚĐ͍͘  zͬE͘ /Ĩ LJĞƐ͕ ƉůĞĂƐĞ ŐŝǀĞ ŚLJƉĞƌůŝŶŬ ĨŽƌ ǁĞď ϴϬϬϬŐƵŝĚĞůŝŶĞƐ͘ page etc. Ϯ͘ ,ŽǁŵĂŶLJƐƚĂŬĞŚŽůĚĞƌĐŽŵƉůĂŝŶƚƐŚĂǀĞďĞĞŶƌĞĐĞŝǀĞĚŝŶ  zĞƐ͕:^W>ĐŽŶƟŶƵŽƵƐůLJƐƚƌŝǀĞƐƚŽŝŵƉƌŽǀĞĞŶĞƌŐLJĞĸĐŝĞŶĐLJ ƚŚĞƉĂƐƚĮŶĂŶĐŝĂůLJĞĂƌĂŶĚǁŚĂƚƉĞƌĐĞŶƚǁĂƐƐĂƟƐĨĂĐƚŽƌŝůLJ ĂŶĚŝŵƉůĞŵĞŶƚƌĞŶĞǁĂďůĞĞŶĞƌŐLJŝŶŝƟĂƟǀĞƐĂƚŝƚƐĞdžŝƐƟŶŐ resolved by the management? ĨĂĐŝůŝƟĞƐ͘ ŶĞƌŐLJ ŝƐ ĂůƐŽ ŽŶĞ ŽĨ ƚŚĞ ŵŽƐƚ ŝŵƉŽƌƚĂŶƚ  EŽ ĐŽŵƉůĂŝŶƚƐ ƉĞƌƚĂŝŶŝŶŐ ƚŽ ŚƵŵĂŶ ƌŝŐŚƚƐ ǀŝŽůĂƟŽŶ ǁĞƌĞ ĐŽŶƐŝĚĞƌĂƟŽŶƐŝŶƚŚĞĚĞƐŝŐŶŽĨŽƵƌƵƉĐŽŵŝŶŐƉůĂŶƚƐ͘dŚĞ ƌĞĐĞŝǀĞĚĨƌŽŵƐƚĂŬĞŚŽůĚĞƌƐŝŶƚŚĞƌĞƉŽƌƟŶŐƉĞƌŝŽĚ͘ ŽŵƉĂŶLJ ŚĂƐ ŝŶǀĞƐƚĞĚ ŝŶ Ă Ϯϰ Dt ǁŝŶĚ ƉŽǁĞƌ ƉƌŽũĞĐƚ͕ ǁŚŝĐŚ ƐƵƉƉůŝĞƐ ƌĞŶĞǁĂďůĞ ĞŶĞƌŐLJ ƚŽ ƚŚĞ ƐƚĂƚĞ ŐƌŝĚ ŽĨ WZ/E/W>ϲ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƌĞƐƉĞĐƚ͕ƉƌŽƚĞĐƚ͕ĂŶĚ DĂŚĂƌĂƐŚƚƌĂ͘ŶĞƌŐLJĞĸĐŝĞŶƚĂŶĚƌĞŶĞǁĂďůĞĞŶĞƌŐLJďĂƐĞĚ ŵĂŬĞĞīŽƌƚƐƚŽƌĞƐƚŽƌĞƚŚĞĞŶǀŝƌŽŶŵĞŶƚ ůŝŐŚƟŶŐŝŶŝƟĂƟǀĞƐŚĂǀĞďĞĞŶƵŶĚĞƌƚĂŬĞŶĂƚĂůůůŽĐĂƟŽŶƐ͘  ƚ ŽŶĞ ŽĨ ŽƵƌ ƉůĂŶƚƐ͕ ĞůĞĐƚƌŝĐŝƚLJ ŝƐ ďĞŝŶŐ ŐĞŶĞƌĂƚĞĚ ďLJ ϭ͘ ŽĞƐ ƚŚĞ ƉŽůŝĐLJ ƌĞůĂƚĞĚ ƚŽ WƌŝŶĐŝƉůĞ ϲ ĐŽǀĞƌ ŽŶůLJ ƚŚĞ ƌĞĐŽǀĞƌŝŶŐƚŚĞǁĂƐƚĞŚĞĂƚŝŶŇƵĞŐĂƐĞƐŽĨĐŽŬĞŽǀĞŶƐĂŶĚZ/ ŽŵƉĂŶLJ Žƌ ĞdžƚĞŶĚ ƚŽ ƚŚĞ 'ƌŽƵƉͬ:ŽŝŶƚ sĞŶƚƵƌĞƐͬ ŬŝůŶƐ͘KƚŚĞƌĞŶĞƌŐLJĞĸĐŝĞŶĐLJŝŶŝƟĂƟǀĞƐŝŶĐůƵĚĞŝŶƐƚĂůůĂƟŽŶŽĨ ^ƵƉƉůŝĞƌƐͬŽŶƚƌĂĐƚŽƌƐͬE'KƐͬŽƚŚĞƌƐ͘ ǀĂƌŝĂďůĞĨƌĞƋƵĞŶĐLJĚƌŝǀĞƐ͕ŝŶƐƚĂůůĂƟŽŶŽĨůŝŐŚƟŶŐĞŶĞƌŐLJƐĂǀĞƌƐ  zĞƐ͕:^W>ŚĂƐĂĚŽƉƚĞĚĂŶŶǀŝƌŽŶŵĞŶƚWŽůŝĐLJ͘tŝƚŚƌĞƐƉĞĐƚ ĂŶĚĞŶĞƌŐLJĞĸĐŝĞŶƚůĂŵƉƐ͕ĚŽǁŶƐŝnjŝŶŐŽĨŽǀĞƌƐŝnjĞĚƉƵŵƉƐ ƚŽ ƚŚĞ ƐƵƉƉůŝĞƌƐ ĂŶĚ ĐŽŶƚƌĂĐƚŽƌƐ͕ ĞŶǀŝƌŽŶŵĞŶƚĂů ƌƵůĞƐ ĂŶĚŵŽƚŽƌƐ͕ŵŽĚŝĮĐĂƟŽŶŽĨǁŚĂƌĨĚŝƐĐŚĂƌŐĞŵĞĐŚĂŶŝƐŵŝŶ ΘƌĞŐƵůĂƟŽŶƐĂƌĞĐůĞĂƌůLJƐƚĂƚĞĚŝŶƚŚĞŐĞŶĞƌĂůƚĞƌŵƐĂŶĚ ĐŽŬĞŽǀĞŶƉůĂŶƚ͕ƐĞŐƌĞŐĂƟŽŶŽĨĐŽŬĞƉƌŽĚƵĐƚƐďLJĐŽŬĞƌŽƵƚĞ ĐŽŶĚŝƟŽŶƐŽĨƚŚĞŽƌĚĞƌͬĐŽŶƚƌĂĐƚ͘ ŵŽĚŝĮĐĂƟŽŶƐŝŶĐŽŬĞŽǀĞŶƉůĂŶƚ͕ĂŶĚŝŶƐƚĂůůĂƟŽŶŽĨŽŶůŝŶĞ Ϯ͘ ŽĞƐƚŚĞŽŵƉĂŶLJŚĂǀĞƐƚƌĂƚĞŐŝĞƐͬŝŶŝƟĂƟǀĞƐƚŽĂĚĚƌĞƐƐ ŶƵĐůĞŽŶŝĐŵŽŝƐƚƵƌĞƚƌĂŶƐŵŝƩĞƌŝŶĐŽŬĞďƵŶŬĞƌƐŝŶŽƌĚĞƌƚŽ ŐůŽďĂů ĞŶǀŝƌŽŶŵĞŶƚĂů ŝƐƐƵĞƐ ƐƵĐŚ ĂƐ ĐůŝŵĂƚĞ ĐŚĂŶŐĞ͕ ƌĞĚƵĐĞĐŽŬĞĐŽŶƐƵŵƉƟŽŶŝŶďůĂƐƚĨƵƌŶĂĐĞ͘ƉĂƌƚĨƌŽŵƚŚĞ ŐůŽďĂů ǁĂƌŵŝŶŐ͕ ĞƚĐ͍͘ zͬE͘ /Ĩ LJĞƐ͕ ƉůĞĂƐĞ ŐŝǀĞ ŚLJƉĞƌůŝŶŬ ŇƵĞŐĂƐĞƐ͕ŽƚŚĞƌƉƌŽĐĞƐƐǁĂƐƚĞƐĂƌĞďĞŝŶŐƵƐĞĚŝŶĚŝīĞƌĞŶƚ ĨŽƌǁĞďƉĂŐĞĞƚĐ͘ ǁĂLJƐ͕Ğ͘Ő͘ŇLJĂƐŚŝƐƵƐĞĚŝŶďƌŝĐŬŵĂŬŝŶŐ͘ůĂƐƚĨƵƌŶĂĐĞŐĂƐ͕  zĞƐ͕ :^W> ĐŽŶƟŶƵŽƵƐůLJ ĞdžƉůŽƌĞƐ ƉŽƐƐŝďŝůŝƚLJ ŽĨ ƉƌŽĐĞƐƐ ǁŚŝĐŚŝƐĂďLJƉƌŽĚƵĐƚ͕ŝƐďĞŝŶŐƵƟůŝƐĞĚƚŽƌĞĚƵĐĞĨƵƌŶĂĐĞŽŝů ŝŵƉƌŽǀĞŵĞŶƚƐ ĂŶĚ ŝŶǀĞƐƚŵĞŶƚ ŝŶ ŶĞǁ ƚĞĐŚŶŽůŽŐŝĞƐ ĨŽƌ ĐŽŶƐƵŵƉƟŽŶ͘ĂƩĞƌLJŽƉĞƌĂƚĞĚǀĞŚŝĐůĞƐĂƌĞďĞŝŶŐƵƟůŝƐĞĚĨŽƌ ƌĞĚƵĐŝŶŐ ŽƵƌ ĞŶǀŝƌŽŶŵĞŶƚĂů ĨŽŽƚƉƌŝŶƚ ƚŽ ĂĚĚƌĞƐƐ ŐůŽďĂů ŵĂƚĞƌŝĂůƚƌĂŶƐƉŽƌƚŝŶƚŚĞƉůĂŶƚ͘ ǁĂƌŵŝŶŐ͘ DĂŶLJ ƐƵĐŚ ŝŶƚĞƌǀĞŶƟŽŶƐ ŚĂǀĞ ĂůƌĞĂĚLJ ďĞĞŶ  KƵƌƵƉĐŽŵŝŶŐƉůĂŶƚƐĂƌĞĞŵƉůŽLJŝŶŐǀĂƌŝŽƵƐĐŽŶƚĞŵƉŽƌĂƌLJ ŝŵƉůĞŵĞŶƚĞĚŽƌĂƌĞďĞŝŶŐŝŵƉůĞŵĞŶƚĞĚĂƚŽƵƌƉůĂŶƚƐ͘tĞ ƚĞĐŚŶŽůŽŐŝĞƐ ƚŽ ƌĞĚƵĐĞ ',' ĞŵŝƐƐŝŽŶƐ ŝŶĐůƵĚŝŶŐ dŽƉ ĂƌĞĐƵƌƌĞŶƚůLJĨŽƌŵƵůĂƟŶŐĂĐŽŵƉƌĞŚĞŶƐŝǀĞĂĐƟŽŶƉůĂŶŽŶ ZĞĐŽǀĞƌLJ dƵƌďŝŶĞƐ͕ ŽŬĞ ƌLJ YƵĞŶĐŚŝŶŐ͕ ĂŶĚ ƵƐĞ ŽĨ ĐůŝŵĂƚĞ ĐŚĂŶŐĞ ĨŽƌ ĚĞǀĞůŽƉŝŶŐ Ă ůŽǁ ĐĂƌďŽŶ ƐƚƌĂƚĞŐLJ ƚŽ ƐLJŶƚŚĞƟĐŐĂƐ͘tĞĂƌĞĂůƐŽƉůĂŶŶŝŶŐƚŽĐŽŶƐƚƌƵĐƚĂϮϭϬŬŵ ƐƵƉƉůĞŵĞŶƚ ŽƵƌ ĞdžŝƐƟŶŐ ĞīŽƌƚƐ͘ &Žƌ ƚŚĞ ƐĂŵĞ͕ ǁĞ ŚĂǀĞ ůŽŶŐƉŝƉĞůŝŶĞĨŽƌƚƌĂŶƐƉŽƌƟŶŐŝƌŽŶŽƌĞŝŶƐůƵƌƌLJĨŽƌŵĚŝƌĞĐƚůLJ ĐĂƌƌŝĞĚ ŽƵƚ ĐĂƌďŽŶ ĨŽŽƚͲƉƌŝŶƟŶŐ ĂĐƌŽƐƐ Ăůů ŽƵƌ ŽƉĞƌĂƟŽŶƐ ĨƌŽŵ ƚŚĞ ƐŽƵƌĐĞ ƚŽ ŽŶĞ ŽĨ ŽƵƌ ŶĞǁ ƉůĂŶƚƐ͘ dŚĞ ƉŝƉĞůŝŶĞ ĂŶĚĂƌĞĐƵƌƌĞŶƚůLJĚĞǀĞůŽƉŝŶŐĂƌŽĂĚŵĂƉĨŽƌŝŵƉůĞŵĞŶƚĂƟŽŶ ǁŝůů ĞŶƚĂŝů ĞŶǀŝƌŽŶŵĞŶƚĂů ďĞŶĞĮƚƐ ďLJ ƌĞĚƵĐŝŶŐ ĞŶĞƌŐLJ ŽĨĞŶĞƌŐLJĞĸĐŝĞŶĐLJĂŶĚƌĞŶĞǁĂďůĞĞŶĞƌŐLJŝŶŝƟĂƟǀĞƐ͘ ĐŽŶƐƵŵƉƟŽŶ ĂŶĚ ĂǀŽŝĚŝŶŐ ĚƵƐƚ ĂŶĚ ŶŽŝƐĞ ƉŽůůƵƟŽŶ͕ ĂŶĚ ϯ͘ ŽĞƐ ƚŚĞ ŽŵƉĂŶLJ ŝĚĞŶƟĨLJ ĂŶĚ ĂƐƐĞƐƐ ƉŽƚĞŶƟĂů ǁŝůů ĂůƐŽ ůĞĂĚ ƚŽ ĂǀŽŝĚĂŶĐĞ ŽĨ ƉŽƚĞŶƟĂů ŐƌĞĞŶŚŽƵƐĞ ŐĂƐ ĞŶǀŝƌŽŶŵĞŶƚĂůƌŝƐŬƐ͍zͬE ĞŵŝƐƐŝŽŶƐĨƌŽŵĂŶLJĂůƚĞƌŶĂƟǀĞŵŽĚĞŽĨƚƌĂŶƐƉŽƌƚĂƟŽŶƚŚĂƚ  zĞƐ͕ĂƐƉĂƌƚŽĨŽƵƌ/^KϭϰϬϬϭ͕/^KϵϬϬϭĂŶĚK,^^ϭϴϬϬϭ ǁŽƵůĚŚĂǀĞďĞĞŶƵƐĞĚŝŶƉůĂĐĞŽĨƚŚĞƉƌŽƉŽƐĞĚƉŝƉĞůŝŶĞ͘ ĐĞƌƟĮĐĂƟŽŶƐ͕ ǁĞ ƵŶĚĞƌƚĂŬĞ ĐŽŶƟŶƵŽƵƐ ĂƐƐĞƐƐŵĞŶƚ 6. Is the Emissions/Waste generated by the Company ŽĨ ƚŚĞ ƉŽƚĞŶƟĂů ĞŶǀŝƌŽŶŵĞŶƚĂů ƌŝƐŬƐ͘ dŚĞ ŽŵƉĂŶLJ ǁŝƚŚŝŶƚŚĞƉĞƌŵŝƐƐŝďůĞůŝŵŝƚƐŐŝǀĞŶďLJWͬ^WĨŽƌƚŚĞ ƵŶĚĞƌƚĂŬĞƐĞdžƚĞƌŶĂůĂƵĚŝƚƐƵŶĚĞƌ/^KϭϰϬϬϭƚŽĂƐƐĞƐƐƚŚĞ ĮŶĂŶĐŝĂůLJĞĂƌďĞŝŶŐƌĞƉŽƌƚĞĚ͍ ŝŵƉůĞŵĞŶƚĂƟŽŶŽĨŝƚƐĞŶǀŝƌŽŶŵĞŶƚƌĞůĂƚĞĚĂĐƟǀŝƟĞƐ͘  zĞƐ͕ ƚŚĞ ĞŵŝƐƐŝŽŶƐͬǁĂƐƚĞ ŐĞŶĞƌĂƚĞĚ ďLJ ƚŚĞ ŽŵƉĂŶLJ Ăƚ Ăůů 4. Does the Company have any project related to Clean ůŽĐĂƟŽŶƐŝƐǁŝƚŚŝŶƚŚĞƉĞƌŵŝƐƐŝďůĞůŝŵŝƚƐŐŝǀĞŶďLJWͬ^W͘ ĞǀĞůŽƉŵĞŶƚ DĞĐŚĂŶŝƐŵ͍ /Ĩ LJĞƐ͕ ǁŚĞƚŚĞƌ ĂŶLJ ϳ͘ EƵŵďĞƌŽĨƐŚŽǁĐĂƵƐĞͬůĞŐĂůŶŽƟĐĞƐƌĞĐĞŝǀĞĚĨƌŽŵWͬ ĞŶǀŝƌŽŶŵĞŶƚĂůĐŽŵƉůŝĂŶĐĞƌĞƉŽƌƚŝƐĮůĞĚ͍ ^WǁŚŝĐŚĂƌĞƉĞŶĚŝŶŐ;ŝ͘Ğ͘ŶŽƚƌĞƐŽůǀĞĚƚŽƐĂƟƐĨĂĐƟŽŶͿ  zĞƐ͕:^W>ŚĂƐĂϮϰDtǁŝŶĚƉŽǁĞƌƉƌŽũĞĐƚƌĞŐŝƐƚĞƌĞĚĂƐ as on end of Financial Year. ĂůĞĂŶĞǀĞůŽƉŵĞŶƚDĞĐŚĂŶŝƐŵƉƌŽũĞĐƚĂĐƟǀŝƚLJ;hE&  ƚ ƚŚĞ ĞŶĚ ŽĨ &z ϮϬϭϮͲϭϯ͕ ƚŚĞƌĞ ĂƌĞ Ϯ ƉĞŶĚŝŶŐ ĐĂƐĞƐ ƌĞĨĞƌĞŶĐĞŶƵŵďĞƌϱϴϲϰͿ͘dŚĞƉƌŽũĞĐƚŐĞŶĞƌĂƚĞƐĞůĞĐƚƌŝĐŝƚLJ ǁŝƚŚ^W͘ ĨƌŽŵĂƌĞŶĞǁĂďůĞĞŶĞƌŐLJƐŽƵƌĐĞ;ǁŝŶĚͿ͘dŚƵƐ͕ƚŚĞƉƌŽũĞĐƚ ĂĐƟǀŝƚLJ ŚĞůƉƐ ŝŶ ƌĞĚƵĐŝŶŐ ĚĞƉĞŶĚĞŶĐĞ ŽŶ ĨŽƐƐŝů ĨƵĞůƐ ĨŽƌ ŐĞŶĞƌĂƟŶŐƚŚĞĞƋƵŝǀĂůĞŶƚĂŵŽƵŶƚŽĨĞůĞĐƚƌŝĐŝƚLJ͘dŚĞƉƌŽũĞĐƚ

ĂĐƟǀŝƚLJǁŝůůƌĞĚƵĐĞϯϴ͕ϰϱϵƚK 2Ğ','ĞŵŝƐƐŝŽŶƐƉĞƌĂŶŶƵŵ Ɵůů:ƵůLJϮϬϮϮ͘

131 Annual Report 2012-13 WZ/E/W>ϳ ƵƐŝŶĞƐƐĞƐ͕ǁŚĞŶĞŶŐĂŐĞĚŝŶŝŶŇƵĞŶĐŝŶŐ WZ/E/W>ϴ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚƐƵƉƉŽƌƚŝŶĐůƵƐŝǀĞŐƌŽǁƚŚ ƉƵďůŝĐĂŶĚƌĞŐƵůĂƚŽƌLJƉŽůŝĐLJ͕ƐŚŽƵůĚĚŽƐŽŝŶ and equitable development a responsible manner ϭ͘ ŽĞƐƚŚĞŽŵƉĂŶLJŚĂǀĞƐƉĞĐŝĮĞĚƉƌŽŐƌĂŵŵĞƐͬŝŶŝƟĂƟǀĞƐͬ 1. Is your Company a member of any trade and chamber or ƉƌŽũĞĐƚƐŝŶƉƵƌƐƵŝƚŽĨƚŚĞƉŽůŝĐLJƌĞůĂƚĞĚƚŽWƌŝŶĐŝƉůĞϴ͍/ĨLJĞƐ ĂƐƐŽĐŝĂƟŽŶ͍/ĨzĞƐ͕EĂŵĞŽŶůLJƚŚŽƐĞŵĂũŽƌŽŶĞƐƚŚĂƚLJŽƵƌ details thereof. ďƵƐŝŶĞƐƐĚĞĂůƐǁŝƚŚ͘  zĞƐ͘ :^W> ĞŶĚŽƌƐĞƐ ƚŚĞ ƚĞŶĞƚƐ ŽĨ ŝŶĐůƵƐŝǀĞ ŐƌŽǁƚŚ ĂŶĚ  zĞƐ͕:^W>ŝƐĂŵĞŵďĞƌŽĨƐĞǀĞƌĂůŝŶĚƵƐƚƌŝĂůĂŶĚƚƌĂĚĞďŽĚŝĞƐ͘ ĞƋƵŝƚĂďůĞ ĚĞǀĞůŽƉŵĞŶƚ ƚŚƌŽƵŐŚ ŝƚƐ ŽƌƉŽƌĂƚĞ ^ŽĐŝĂů dŚĞƐĞĂƌĞůŝƐƚĞĚďĞůŽǁ͗ ZĞƐƉŽŶƐŝďŝůŝƚLJ ;^ZͿ ŝŶŝƟĂƟǀĞƐ͘ dŚĞƐĞ ƚĞŶĞƚƐ ĐŽŶƐƟƚƵƚĞ ĂͿ ŽŶĨĞĚĞƌĂƟŽŶŽĨ/ŶĚŝĂŶ/ŶĚƵƐƚƌLJ;//Ϳ ĂŶŝŶƚĞŐƌĂůƉĂƌƚŽĨŽƵƌĐŽƌƉŽƌĂƚĞ͞ŽƌĞsĂůƵĞƐ͘͟tĞĮƌŵůLJ ďĞůŝĞǀĞ ƚŚĂƚ ŝŵƉƌŽǀŝŶŐ ƚŚĞ ƋƵĂůŝƚLJ ŽĨ ůŝĨĞ ŽĨ ĐŽŵŵƵŶŝƟĞƐ ďͿ &ĞĚĞƌĂƟŽŶ ŽĨ /ŶĚŝĂŶ ŚĂŵďĞƌƐ ŽĨ ŽŵŵĞƌĐĞ ĂŶĚ ƐƵƌƌŽƵŶĚŝŶŐŽƵƌŽƉĞƌĂƟŽŶƐŝƐĂŶĞĐĞƐƐĂƌLJĐŽŵƉŽŶĞŶƚ ŽĨ /ŶĚƵƐƚƌLJ;&//Ϳ ŽƵƌŐƌŽǁƚŚƐƚŽƌLJ͘dŚĞƐĂŵĞŝƐĞŶƐŚƌŝŶĞĚŝŶŽƵƌ^ZƉŽůŝĐLJ͘ ĐͿ ƐƐŽĐŝĂƚĞĚŚĂŵďĞƌƐŽĨŽŵŵĞƌĐĞĂŶĚ/ŶĚƵƐƚƌLJŽĨ dŚĞ ĞīĞĐƟǀĞŶĞƐƐ ĂŶĚ ŝŵƉůĞŵĞŶƚĂƟŽŶ ŽĨ ƚŚŝƐ ƉŽůŝĐLJ ŝƐ /ŶĚŝĂ;^^K,DͿ ĞŶƐƵƌĞĚ ďLJ ĞdžƚĞŶĚŝŶŐ ƚŚĞ ŐŽǀĞƌŶĂŶĐĞ ƌĞƐƉŽŶƐŝďŝůŝƚLJ ƚŽ ĚͿ &ĞĚĞƌĂƟŽŶŽĨ/ŶĚŝĂŶDŝŶĞƌĂů/ŶĚƵƐƚƌŝĞƐ;&/D/Ϳ ƚŚĞŽŵƉĂŶLJ͛ƐŽĂƌĚƚŚƌŽƵŐŚƚŚĞ,ĞĂůƚŚ͕^ĂĨĞƚLJ͕^ZĂŶĚ ĞͿ ^ƚĞĞů&ƵƌŶĂĐĞƐƐŽĐŝĂƟŽŶŽĨ/ŶĚŝĂ;^&/Ϳ ŶǀŝƌŽŶŵĞŶƚŽŵŵŝƩĞĞ͘dŚŝƐŽĂƌĚůĞǀĞůĐŽŵŵŝƩĞĞŵĞĞƚƐ ƋƵĂƌƚĞƌůLJ ƚŽ ŵŽŶŝƚŽƌ ƚŚĞ ƉůĂŶƐ͕ ĂĐƟŽŶƐ ĂŶĚ ŽƵƚĐŽŵĞƐ ŽĨ ĨͿ ^ƉŽŶŐĞ/ƌŽŶDĂŶƵĨĂĐƚƵƌĞƌƐƐƐŽĐŝĂƟŽŶ;^/DͿ ŽƵƌ ^Z ƉƌŽŐƌĂŵŵĞƐ͘ dŚĞƐĞ ƉƌŽŐƌĂŵŵĞƐ ĂƌĞ ŵĂŶĂŐĞĚ ŐͿ ƐƐŽĐŝĂƟŽŶŽĨWŽǁĞƌWƌŽĚƵĐĞƌƐ;WWͿ ďLJƉƌŽĨĞƐƐŝŽŶĂů^ZƚĞĂŵƐƐƚĂƟŽŶĞĚĂƚĞĂĐŚŽĨŽƵƌƉůĂŶƚ Ϯ͘ ,ĂǀĞLJŽƵĂĚǀŽĐĂƚĞĚͬůŽďďŝĞĚƚŚƌŽƵŐŚĂďŽǀĞĂƐƐŽĐŝĂƟŽŶƐ ůŽĐĂƟŽŶƐĂŶĚďƌŽĂĚůLJƉĞƌƚĂŝŶƚŽĂƌĞĂƐůŝŬĞ͗ for the advancement or improvement of public good? Yes/  ,ĞĂůƚŚ EŽ͖ŝĨLJĞƐƐƉĞĐŝĨLJƚŚĞďƌŽĂĚĂƌĞĂƐ;ĚƌŽƉďŽdž͗'ŽǀĞƌŶĂŶĐĞĂŶĚ ĚŵŝŶŝƐƚƌĂƟŽŶ͕ĐŽŶŽŵŝĐZĞĨŽƌŵƐ͕/ŶĐůƵƐŝǀĞĞǀĞůŽƉŵĞŶƚ  ĚƵĐĂƟŽŶ WŽůŝĐŝĞƐ͕ŶĞƌŐLJƐĞĐƵƌŝƚLJ͕tĂƚĞƌ͕&ŽŽĚ^ĞĐƵƌŝƚLJ͕^ƵƐƚĂŝŶĂďůĞ  zŽƵƚŚĞǀĞůŽƉŵĞŶƚ ƵƐŝŶĞƐƐWƌŝŶĐŝƉůĞƐ͕KƚŚĞƌƐͿ͘  ^ƵƐƚĂŝŶĂďůĞ>ŝǀĞůŝŚŽŽĚ  :^W>ŝƐƉĂƌƚŽĨǀĂƌŝŽƵƐĐŽŵŵŝƩĞĞƐůŝŬĞƉŽǁĞƌĐŽŵŵŝƩĞĞ͕  tŽŵĞŶ͛ƐŵƉŽǁĞƌŵĞŶƚ ƐƚĞĞůĐŽŵŵŝƩĞĞ͕ŵŝŶŝŶŐĐŽŵŵŝƩĞĞĞƚĐ͘ǁŝƚŚŝŶƚŚĞĂďŽǀĞ ůŝƐƚĞĚŝŶĚƵƐƚƌŝĂůĂŶĚƚƌĂĚĞďŽĚŝĞƐ͘tĞƉĂƌƟĐŝƉĂƚĞŝŶƐĞŵŝŶĂƌƐ  ^ŬŝůůĞǀĞůŽƉŵĞŶƚ ĂŶĚ ĐŽŶĨĞƌĞŶĐĞƐ ŽƌŐĂŶŝƐĞĚ ďLJ ƚŚĞƐĞ ďŽĚŝĞƐ ĂŶĚ ƉƌŽǀŝĚĞ  ^ƚƌĞŶŐƚŚĞŶŝŶŐ>ŽĐĂů/ŶƐƟƚƵƟŽŶƐ ŽƵƌ ŝŶƉƵƚƐ ŽŶ ǀĂƌŝŽƵƐ ŝƐƐƵĞƐ ŝŶĐůƵĚŝŶŐ ĂĚǀĂŶĐĞŵĞŶƚͬ  EĂƚƵƌĂůZĞƐŽƵƌĐĞDĂŶĂŐĞŵĞŶƚ ŝŵƉƌŽǀĞŵĞŶƚŽĨƉƵďůŝĐŐŽŽĚďƵƚǁĞĚŽŶŽƚůŽďďLJĨŽƌĂŶLJ  ŝƐĂƐƚĞƌZĞůŝĞĨ ƐƉĞĐŝĮĐ ŝƐƐƵĞ͘ /Ŷ ƚŚĞ ƉĂƐƚ͕ ǁĞ ŚĂǀĞ ƉĂƌƟĐŝƉĂƚĞĚ ŝŶ ƚŚĞ ĨŽůůŽǁŝŶŐĨŽƌƵŵƐƉĞƌƚĂŝŶŝŶŐƚŽĂĚǀĂŶĐĞŵĞŶƚͬŝŵƉƌŽǀĞŵĞŶƚ  >ŝǀĞƐƚŽĐŬDĂŶĂŐĞŵĞŶƚ ŽĨƉƵďůŝĐŐŽŽĚ͗  ŽŵŵƵŶŝƚLJ/ŶĨƌĂƐƚƌƵĐƚƵƌĞĞǀĞůŽƉŵĞŶƚ  ŶĞƌŐLJ^ĞĐƵƌŝƚLJ  ^ƉŽƌƚƐ͕ƌƚĂŶĚƵůƚƵƌĞZĞůĂƚĞĚ  ^ƵƐƚĂŝŶĂďůĞƵƐŝŶĞƐƐWƌŝŶĐŝƉůĞƐ  'ŽǀĞƌŶĂŶĐĞ  ^ĂĨĞƚLJĂŶĚ^ŬŝůůĞǀĞůŽƉŵĞŶƚ

132 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ƵƐŝŶĞƐƐZĞƐƉŽŶƐŝďŝůŝƚLJZĞƉŽƌƚ

Ϯ͘ ƌĞƚŚĞƉƌŽŐƌĂŵŵĞƐͬƉƌŽũĞĐƚƐƵŶĚĞƌƚĂŬĞŶƚŚƌŽƵŐŚŝŶͲŚŽƵƐĞƚĞĂŵͬŽǁŶĨŽƵŶĚĂƟŽŶͬĞdžƚĞƌŶĂůE'KͬŐŽǀĞƌŶŵĞŶƚƐƚƌƵĐƚƵƌĞƐͬĂŶLJ ŽƚŚĞƌŽƌŐĂŶŝƐĂƟŽŶ͍  dŚĞŽŶƵƐŽĨĚĞƐŝŐŶŝŶŐĂŶĚĚĞůŝǀĞƌŝŶŐƚŚĞ^ZŝŶŝƟĂƟǀĞƐůŝĞƐǁŝƚŚƚŚĞŝŶͲŚŽƵƐĞ^ZƚĞĂŵƐĚĞƉůŽLJĞĚĂƚĞĂĐŚŽĨŽƵƌƉůĂŶƚůŽĐĂƟŽŶƐ͘ ĂƐĞĚŽŶƚŚĞƌĞƋƵŝƌĞŵĞŶƚŽĨĞĂĐŚŝŶŝƟĂƟǀĞ͕ĞdžƚĞƌŶĂůE'KƐĂƌĞĂůƐŽďƌŽƵŐŚƚŽŶďŽĂƌĚƚŽƐƵƉƉůĞŵĞŶƚƚŚĞŝŶͲŚŽƵƐĞƐŬŝůůƐĂǀĂŝůĂďůĞ͘ DĂŶLJŽĨŽƵƌŝŶŝƟĂƟǀĞƐĂƌĞůŝŶŬĞĚǁŝƚŚĞdžŝƐƟŶŐŐŽǀĞƌŶŵĞŶƚƐĐŚĞŵĞƐ;ĞŝƚŚĞƌƐƵƉƉůĞŵĞŶƟŶŐŽƌĐŽŵƉůĞŵĞŶƟŶŐƚŚĞƐĐŚĞŵĞͿĂŶĚ ƌĞƋƵŝƌĞƉĂƌƚŶĞƌŝŶŐǁŝƚŚƌĞƐƉĞĐƟǀĞŐŽǀĞƌŶŵĞŶƚĂŐĞŶĐŝĞƐŝŶǀŽůǀĞĚ͘ĨĞǁĞdžĂŵƉůĞƐŽĨŽƵƌĐŽůůĂďŽƌĂƟǀĞĞīŽƌƚƐĂƌĞŐŝǀĞŶďĞůŽǁ͗

Area WĂƌƚŶĞƌ/ŶǀŽůǀĞĚ ,ĞĂůƚŚ ZĞĚƌŽƐƐ^ŽĐŝĞƚLJ͕ŝƐƚƌŝĐƚůŽŽĚĂŶŬƐ͕ŝƐƚƌŝĐƚ,ĞĂůƚŚĚŵŝŶŝƐƚƌĂƟŽŶ͕/ŶƚĞŐƌĂƚĞĚŚŝůĚ ĞǀĞůŽƉŵĞŶƚ^ĐŚĞŵĞ;/^Ϳ͕ŝůůĂ^ǁĂƐƚŚĂ^ĂŵŝƟ;^^Ϳ͕EĂƟŽŶĂůZƵƌĂů,ĞĂůƚŚDŝƐƐŝŽŶ ;EZ,DͿ͕ EĂƟŽŶĂů sĞĐƚŽƌ ŽƌŶĞ ŝƐĞĂƐĞƐ ŽŶƚƌŽů WƌŽŐƌĂŵ ;EsWͿ͕ /ŶƚĞŐƌĂƚĞĚ ŽƵŶƐĞůůŝŶŐĂŶĚdĞƐƟŶŐĞŶƚĞƌ;/dͿ͕EĂƟŽŶĂů/^ŽŶƚƌŽůKƌŐĂŶŝƐĂƟŽŶ͕ŝƐƚƌŝĐƚ/^ WƌĞǀĞŶƟŽŶĂŶĚŽŶƚƌŽůhŶŝƚ;WhͿ

ĚƵĐĂƟŽŶ ĞƉƚ͘ŽĨ^ĐŚŽŽůĂŶĚDĂƐƐĚƵĐĂƟŽŶ͕^ĂƌǀĂ^ŚŝŬƐŚĂďŚŝLJĂŶ͕^ƚĂƚĞZĞƐŽƵƌĐĞĞŶƚƌĞ͕ ŝůůĂ^ĂŬƐŚĂƌĂƚĂDŝƐƐŝŽŶ͕>ŽĐĂůǁĞůĨĂƌĞƐŽĐŝĞƟĞƐ

Sustainable Livelihood KĸĐĞ ŽĨ ŚŝĞĨ ŝƐƚƌŝĐƚ sĞƚĞƌĂŶĂƌLJ KĸĐĞƌ͕ KĸĐĞ ŽĨ ƐƐŝƐƚĂŶƚ ŝƌĞĐƚŽƌ ŽĨ &ŝƐŚĞƌŝĞƐ͕ KĸĐĞ ŽĨ ŝƐƚƌŝĐƚ ,ŽƌƟĐƵůƚƵƌĂů KĸĐĞƌ͕ ŝƐƚƌŝĐƚ ZƵƌĂů ĞǀĞůŽƉŵĞŶƚ ƵƚŚŽƌŝƚLJ͕ ŝƐƚƌŝĐƚ ŐƌŝĐƵůƚƵƌĞKĸĐĞ͕<ƌŝƐŚŝsŝŐLJĂŶ<ĞŶĚƌĂ͕:ĂŶ^ŚŝŬƐŚĂ^ĂŶƐƚŚĂŶ

Community Infrastructure ŝƐƚƌŝĐƚĚŵŝŶŝƐƚƌĂƟŽŶ͕ŝƐƚƌŝĐƚZƵƌĂůĞǀĞůŽƉŵĞŶƚƵƚŚŽƌŝƚLJ͕ZƵƌĂůtĞůĨĂƌĞ^ŽĐŝĞƟĞƐ͕ Development ^ƚĂƚĞůĞĐƚƌŝĐŝƚLJŽĂƌĚ͕WƵďůŝĐtŽƌŬƐĞƉĂƌƚŵĞŶƚ

^ƉŽƌƚƐ͕ƌƚĂŶĚƵůƚƵƌĞZĞůĂƚĞĚ KůLJŵƉŝĐƐƐŽĐŝĂƟŽŶ͕ƌŝĐŬĞƚƐƐŽĐŝĂƟŽŶƐ͕ŝƌĞĐƚŽƌĂƚĞŽĨ^ƉŽƌƚƐ͕ŝƐƚƌŝĐƚ^ƉŽƌƚƐKĸĐĞ͕ zŽƵƚŚ,ŽƐƚĞůƐƐŽĐŝĂƟŽŶ͕ŝƐƚƌŝĐƚƚŚůĞƟĐƐƐŽĐŝĂƟŽŶ

EĂƚƵƌĂůZĞƐŽƵƌĐĞDĂŶĂŐĞŵĞŶƚ tĂƚĞƌƐŚĞĚDĂŶĂŐĞŵĞŶƚWƌŽŐƌĂŵŵĞŝŶĐŽůůĂďŽƌĂƟŽŶǁŝƚŚEĂƟŽŶĂůĂŶŬĨŽƌŐƌŝĐƵůƚƵƌĞ ĂŶĚZƵƌĂůĞǀĞůŽƉŵĞŶƚ;EZͿ͕ŐƌŝĐƵůƚƵƌĂů&ŝŶĂŶĐĞŽƌƉŽƌĂƟŽŶ;&Ϳ͕&ŽƵŶĚĂƟŽŶ ĨŽƌĐŽůŽŐŝĐĂů^ĞĐƵƌŝƚLJ;&^Ϳ

ϯ͘ ,ĂǀĞLJŽƵĚŽŶĞĂŶLJŝŵƉĂĐƚĂƐƐĞƐƐŵĞŶƚŽĨLJŽƵƌŝŶŝƟĂƟǀĞ͍  zĞƐ͕:^W>ŚĂƐƵŶĚĞƌƚĂŬĞŶŝŵƉĂĐƚĂƐƐĞƐƐŵĞŶƚŽĨŝƚƐ^ZŝŶŝƟĂƟǀĞƐǁŝƚŚƚŚĞŚĞůƉŽĨƚŚŝƌĚƉĂƌƚLJĐŽŶƐƵůƚĂŶƚƐ͘dŚĞŝŵƉĂĐƚĂƐƐĞƐƐŵĞŶƚ ƐƚƵĚŝĞƐĂůůŽǁƵƐƚŽŐĂƵŐĞƚŚĞĞĸĐĂĐLJŽĨŽƵƌƉƌŽŐƌĂŵŵĞƐ͕ƵŶĚĞƌƐƚĂŶĚƚŚĞŇŽǁŽĨďĞŶĞĮƚƐƚŽƚŚĞĐŽŵŵƵŶŝƟĞƐĂŶĚƚŽŐĂŝŶƵƐĞĨƵů ŝŶƐŝŐŚƚƐĨŽƌŝŵƉƌŽǀŝŶŐƚŚĞƉƌŽŐƌĂŵŵĞƐƉĞĐŝĮĐĂƟŽŶƐŽĨĨƵƚƵƌĞŝŶƚĞƌǀĞŶƟŽŶƐ͘dŚĞŽƵƚĐŽŵĞƐŽĨƚŚĞƐĞƐƚƵĚŝĞƐƐŚĞĚůŝŐŚƚŽŶĂĐƟǀŝƟĞƐ ƚŚĂƚĂƌĞŵŽƐƚǀĂůƵĞĚďLJĐŽŵŵƵŶŝƟĞƐ͕ĚŝƌĞĐƚĂŶĚŝŶĚŝƌĞĐƚŝŵƉĂĐƚƐŽĨƚŚĞŝŶŝƟĂƟǀĞƐ͕ŝŵƉĂĐƚŽŶůŝǀĞůŝŚŽŽĚƉĂƩĞƌŶƐ͕ƚƌĞŶĚŝŶĂǀĞƌĂŐĞ ŚŽƵƐĞŚŽůĚŝŶĐŽŵĞ͕ŵŝŐƌĂƟŽŶƉĂƩĞƌŶƐ͕ƐŽĐŝĂůůLJƌĞůĞǀĂŶƚǀĂƌŝĂďůĞƐůŝŬĞĐŚŝůĚŵĂƌƌŝĂŐĞĂŶĚǁŽŵĞŶ͛ƐƉĂƌƟĐŝƉĂƟŽŶ͕ŝŵƉĂĐƚŽŶƐĐŚŽŽů ĚƌŽƉŽƵƚƌĂƚĞƐĂŵŽŶŐƐƚŽƚŚĞƌƚŚŝŶŐƐ͘

133 Annual Report 2012-13 ϰ͘ tŚĂƚŝƐLJŽƵƌŽŵƉĂŶLJ͛ƐĚŝƌĞĐƚĐŽŶƚƌŝďƵƟŽŶƚŽĐŽŵŵƵŶŝƚLJĚĞǀĞůŽƉŵĞŶƚƉƌŽũĞĐƚƐͲŵŽƵŶƚŝŶ/EZĂŶĚƚŚĞĚĞƚĂŝůƐŽĨƚŚĞƉƌŽũĞĐƚƐ undertaken?  :^W>͛ƐĚŝƌĞĐƚĐŽŶƚƌŝďƵƟŽŶƚŽǁĂƌĚƐĐŽŵŵƵŶŝƚLJĚĞǀĞůŽƉŵĞŶƚƉƌŽũĞĐƚƐĚƵƌŝŶŐƚŚĞƌĞƉŽƌƟŶŐƉĞƌŝŽĚ;ϮϬϭϮͲϭϯͿŝƐ༤ϵϵ͘ϭϰĐƌŽƌĞ͘ĞƚĂŝůƐ ŽĨƐŽŵĞŽĨŽƵƌĐŽŵŵƵŶŝƚLJŝŶŝƟĂƟǀĞƐĂƌĞŐŝǀĞŶďĞůŽǁ͗

Area /ŶƚĞƌǀĞŶƟŽŶƐ ,ĞĂůƚŚ KƌŐĂŶŝƐŝŶŐŚĞĂůƚŚĐĂŵƉƐĂŶĚƌĞŶŽǀĂƟŽŶŽĨĐůŝŶŝĐƐ ĚĚƌĞƐƐŝŶŐĂĚŽůĞƐĐĞŶƚĂŶĂĞŵŝĂ ůŽŽĚĚŽŶĂƟŽŶĐĂŵƉƐĂŶĚŵĞĚŝĐŝŶĞĚŝƐƚƌŝďƵƟŽŶĚƌŝǀĞƐ DŽďŝůĞ,ĞĂůƚŚhŶŝƚ ^ĂŶŝƚĂƟŽŶ WƌĞǀĞŶƟǀĞƐĞƌǀŝĐĞƐůŝŬĞĨĂŵŝůLJƉůĂŶŶŝŶŐĐĂŵƉƐĂŶĚŚĞĂůƚŚͲƌĞůĂƚĞĚ awareness programmes /ŵƉƌŽǀŝŶŐŚĞĂůƚŚƌĞůĂƚĞĚŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ĚƵĐĂƟŽŶ ^ƵƉƉŽƌƟŶŐƚĞĂĐŚĞƌƐ ŶŚĂŶĐŝŶŐƋƵĂůŝƚLJŽĨĞĚƵĐĂƟŽŶƚŚƌŽƵŐŚŝŶĨƌĂƐƚƌƵĐƚƵƌĞƐƵƉƉŽƌƚ sŝůůĂŐĞĐĂŵƉƐĨŽƌŝŶĐƌĞĂƐŝŶŐƐĐŚŽŽůĞŶƌŽůŵĞŶƚ &ŝŶĂŶĐŝĂůĂƐƐŝƐƚĂŶĐĞƚŚƌŽƵŐŚƐĐŚŽůĂƌƐŚŝƉƐ ZĞŶŽǀĂƟŽŶŽĨĂŶŐĂŶǁĂĚŝĐĞŶƚƌĞƐ ŝƐƚƌŝďƵƟŽŶŽĨƚĞdžƚŬƐ ĚƵůƚĞĚƵĐĂƟŽŶ Community Infrastructure Development WƌŽǀŝƐŝŽŶŽĨƐĂĨĞĚƌŝŶŬŝŶŐǁĂƚĞƌƚŚƌŽƵŐŚƉŝƉĞĚǁĂƚĞƌƐƵƉƉůLJ͕ŚĂŶĚƉƵŵƉƐ ĂŶĚǁĂƚĞƌƚĂŶŬĞƌƐ ZŽĂĚĚĞǀĞůŽƉŵĞŶƚ sŝůůĂŐĞĞůĞĐƚƌŝĮĐĂƟŽŶ͕ƐŽůĂƌůŝŐŚƟŶŐ KƚŚĞƌĐŽŵŵƵŶŝƚLJŝŶĨƌĂƐƚƌƵĐƚƵƌĞůŝŬĞƚĞŵƉůĞƐ͕ĐŽŵŵƵŶŝƚLJŚĂůůƐĂŶĚ ŵĂŝŶƚĂŝŶŝŶŐŐƌĞĞŶĐŽǀĞƌ Skill Development /d/ĨŽƌŵĂƚƌŝĐƵůĂƚĞƐΘDŽĚƵůĂƌŵƉůŽLJĂďůĞƐĐŚĞŵĞĨŽƌŶŽŶͲŵĂƚƌŝĐƵůĂƚĞƐ sŽĐĂƟŽŶĂůĐŽƵƌƐĞƐůŝŬĞƚĂŝůŽƌŝŶŐ͕ĞŵďƌŽŝĚĞƌLJ͕ƉĂƉĞƌƉƌŽĚƵĐƚƐĂŶĚĐĂŶĚůĞ ŵĂŬŝŶŐ Sustainable Livelihood &ĂƌŵĂŶĚŶŽŶͲĨĂƌŵďĂƐĞĚĂĐƟǀŝƟĞƐ DŝĐƌŽͲĐƌĞĚŝƚƐĐŚĞŵĞƐ >ŝǀĞƐƚŽĐŬŵĂŶĂŐĞŵĞŶƚĂŶĚĂŶŝŵĂůǀĂĐĐŝŶĂƟŽŶĚƌŝǀĞƐ WŝƐĐŝĐƵůƚƵƌĞĂŶĚĨƌĞƐŚǁĂƚĞƌƉƌĂǁŶĐƵůƟǀĂƟŽŶŝŶĐůƵĚŝŶŐĐĂƉĂĐŝƚLJďƵŝůĚŝŶŐ ^ƉŽƌƚƐ͕ƌƚĂŶĚƵůƚƵƌĞŽŶĚŝŶŐ sŝůůĂŐĞ͕ŝŶƚĞƌͲǀŝůůĂŐĞĂŶĚĚŝƐƚƌŝĐƚͲůĞǀĞůĐŽĂĐŚŝŶŐĂŶĚƚŽƵƌŶĂŵĞŶƚƐ /ŶĨƌĂƐƚƌƵĐƚƵƌĞĂŶĚƐƉŽƌƚƐĞƋƵŝƉŵĞŶƚƐƵƉƉŽƌƚƚŽǀŝůůĂŐĞLJŽƵƚŚ WƌŽŵŽƟŽŶŽĨůŽĐĂůĐƵůƚƵƌĂůĂŶĚĨŽůŬŐƌŽƵƉƐ EĂƚƵƌĂůZĞƐŽƵƌĐĞDĂŶĂŐĞŵĞŶƚ ŽŵŵƵŶŝƚLJƉůĂŶƚĂƟŽŶĂŶĚĚĞǀĞůŽƉŵĞŶƚŽĨǁĂƚĞƌďŽĚŝĞƐ tĂƚĞƌƐŚĞĚĚĞǀĞůŽƉŵĞŶƚ tŽŵĞŶ͛ƐŵƉŽǁĞƌŵĞŶƚ ^ĞůĨͲ,ĞůƉ'ƌŽƵƉĨŽƌŵĂƟŽŶĂŶĚŵŝĐƌŽĐƌĞĚŝƚƐĐŚĞŵĞƐ ^ŬŝůůďƵŝůĚŝŶŐĂĐƟǀŝƟĞƐ ,ĞĂůƚŚƌĞůĂƚĞĚĂǁĂƌĞŶĞƐƐĐĂŵƉĂŝŐŶƐ Disaster Relief &ůŽŽĚ͕ĮƌĞĂŶĚƐƚŽƌŵƌĞůŝĞĨ

134 Jindal Steel & Power Limited JSPL at a Glance KƉĞƌĂƟŽŶĂůZĞǀŝĞǁ Statutory Reports Financial Statements ƵƐŝŶĞƐƐZĞƐƉŽŶƐŝďŝůŝƚLJZĞƉŽƌƚ

ϱ͘ ,ĂǀĞ LJŽƵ ƚĂŬĞŶ ƐƚĞƉƐ ƚŽ ĞŶƐƵƌĞ ƚŚĂƚ ƚŚŝƐ ĐŽŵŵƵŶŝƚLJ 4. Did your Company carry out any consumer survey/ ĚĞǀĞůŽƉŵĞŶƚ ŝŶŝƟĂƟǀĞ ŝƐ ƐƵĐĐĞƐƐĨƵůůLJ ĂĚŽƉƚĞĚ ďLJ ƚŚĞ ĐŽŶƐƵŵĞƌƐĂƟƐĨĂĐƟŽŶƚƌĞŶĚƐ͍ ĐŽŵŵƵŶŝƚLJ͍WůĞĂƐĞĞdžƉůĂŝŶŝŶϱϬǁŽƌĚƐ͕ŽƌƐŽ͘  zĞƐ͕ƚŚĞŽŵƉĂŶLJĐĂƌƌŝĞƐŽƵƚĐƵƐƚŽŵĞƌƐĂƟƐĨĂĐƟŽŶƐƵƌǀĞLJƐ  ^ƵĐĐĞƐƐĨƵů ĂĚŽƉƟŽŶ ŽĨ ĐŽŵŵƵŶŝƚLJ ŝŶŝƟĂƟǀĞƐ ŝƐ ĞŶƐƵƌĞĚ ƚŽ ƵŶĚĞƌƐƚĂŶĚ ĐƵƐƚŽŵĞƌ ĐŽŶĐĞƌŶƐ ĂŶĚ ĞŵĞƌŐŝŶŐ ƚƌĞŶĚƐ͘ ďLJ ĐŽŶƟŶƵŽƵƐůLJ ĞŶŐĂŐŝŶŐ ǁŝƚŚ ƚŚĞ ĐŽŵŵƵŶŝƟĞƐ Ăƚ ĞǀĞƌLJ ZĞƉƵƚĞĚ ƚŚŝƌĚ ƉĂƌƚLJ ŵĂƌŬĞƚ ƌĞƐĞĂƌĐŚ ĮƌŵƐ ĂƌĞ ĞŶƚƌƵƐƚĞĚ ƐƚĂŐĞ ŽĨ ƚŚĞ ƉƌŽŐƌĂŵŵĞ͕ ƌŝŐŚƚ ĨƌŽŵ ŝŶĐĞƉƟŽŶ ƚŽ ŝƚƐ ƚŽĐĂƌƌLJŽƵƚƚŚĞƐĞƐƵƌǀĞLJƐ͘KƵƌƐĂůĞƐƚĞĂŵĂůƐŽŝŶƚĞƌĂĐƚƐ ĞdžĞĐƵƟŽŶ͘ ůů ƉƌŽŐƌĂŵŵĞƐ ĂƌĞ ĚĞǀĞůŽƉĞĚ ŝŶ ĐŽŶƐƵůƚĂƟŽŶ ǁŝƚŚ ƐƉĞĐŝĮĐ ĐƵƐƚŽŵĞƌ ŐƌŽƵƉƐ ůŝŬĞ ĂƌĐŚŝƚĞĐƚƐ͕ ĂƵƚŽŵŽďŝůĞ ǁŝƚŚ ƚŚĞ ĐŽŵŵƵŶŝƟĞƐ ƵƐŝŶŐ ƚĞĐŚŶŝƋƵĞƐ ůŝŬĞ WĂƌƟĐŝƉĂƚŽƌLJ ĐŽŵƉĂŶŝĞƐ͕ĞƚĐ͘ƚŽĂĚĚƌĞƐƐƚŚĞŝƌƐƉĞĐŝĮĐŶĞĞĚƐ͘ ZƵƌĂů ƉƉƌĂŝƐĂů ;WZͿ͕ EĞĞĚͲWƌŽĮůĞ ŶĂůLJƐŝƐ ĂŶĚ EĞĞĚͲ ƉƌŝŽƌŝƟƐĂƟŽŶ͘ŽŵŵƵŶŝƟĞƐĂƌĞĂůƐŽŝŶǀŽůǀĞĚŝŶĚĞůŝǀĞƌLJĂƐ &ŽƌΘŽŶďĞŚĂůĨŽĨƚŚĞŽĂƌĚ ǁĞůůĂƐŵŽŶŝƚŽƌŝŶŐƉŚĂƐĞƐŽĨƚŚĞƉƌŽŐƌĂŵŵĞƐ͘/ƚŝƐĂůǁĂLJƐ ŽƵƌĞŶĚĞĂǀŽƵƌƚŽŝŶĚƵĐĞŽǁŶĞƌƐŚŝƉĂŵŽŶŐƐƚĐŽŵŵƵŶŝƟĞƐ WůĂĐĞ͗EĞǁĞůŚŝ EĂǀĞĞŶ:ŝŶĚĂů ǁŝƚŚ:^W>ƉůĂLJŝŶŐƚŚĞƌŽůĞŽĨĂĨĂĐŝůŝƚĂƚŽƌ͘ŽŵŵƵŶŝƚLJďĂƐĞĚ ĂƚĞĚ͗ϮϱƚŚƉƌŝů͕ϮϬϭϯ Chairman ŽƌŐĂŶŝƐĂƟŽŶƐ ůŝŬĞ ǀŝůůĂŐĞ ĚĞǀĞůŽƉŵĞŶƚ ĐŽŵŵŝƩĞĞƐ ĂƌĞ ĨŽƌŵĞĚĂŶĚĂƌĞŐŝǀĞŶƌĞƐƉŽŶƐŝďŝůŝƟĞƐĨŽƌŵĂŶĂŐŝŶŐĐĞƌƚĂŝŶ ĂƐƉĞĐƚƐŽĨƚŚĞƉƌŽŐƌĂŵŵĞƐǁŝƚŚĚƵĞĂƐƐŝƐƚĂŶĐĞĨƌŽŵŽƵƌ ĮĞůĚƚĞĂŵƐ͘

WZ/E/W>ϵ ƵƐŝŶĞƐƐĞƐƐŚŽƵůĚĞŶŐĂŐĞǁŝƚŚĂŶĚƉƌŽǀŝĚĞ value to their customers and consumers in a responsible manner

1. What percentage of customer complaints/consumer ĐĂƐĞƐĂƌĞƉĞŶĚŝŶŐĂƐŽŶƚŚĞĞŶĚŽĨĮŶĂŶĐŝĂůLJĞĂƌ͘  ϵйĐŽŶƐƵŵĞƌĐŽŵƉůĂŝŶƚƐǁĞƌĞƉĞŶĚŝŶŐĂƐŽŶƚŚĞĞŶĚŽĨ ĮŶĂŶĐŝĂůLJĞĂƌϮϬϭϮͲϭϯ͘ƚŽƚĂůŽĨϭϴϳĐŽŶƐƵŵĞƌĐŽŵƉůĂŝŶƚƐ ǁĞƌĞ ƌĞĐĞŝǀĞĚ ĚƵƌŝŶŐ ϮϬϭϮͲϭϯ ĂŶĚ ϭϳϬ ŽĨ ƚŚĞƐĞ ǁĞƌĞ ƌĞƐŽůǀĞĚ͖ƚŚŝƐŝŶĐůƵĚĞƐϴϲĐŽŵƉůĂŝŶƚƐƚŚĂƚǁĞƌĞƚƌĞĂƚĞĚĂƐ ĨĞĞĚďĂĐŬ͘  ƐŽŶƚŚĞĞŶĚŽĨƚŚĞ&zϭϮͲϭϯ͕ŽŶůLJϭ;ŽŶĞͿĐŽŶƐƵŵĞƌĐĂƐĞŝƐ ƌĞŐŝƐƚĞƌĞĚĂŐĂŝŶƐƚ:^W>ĂŶĚŝƐƉĞŶĚŝŶŐ͘ Ϯ͘ ŽĞƐ ƚŚĞ ŽŵƉĂŶLJ ĚŝƐƉůĂLJ ƉƌŽĚƵĐƚ ŝŶĨŽƌŵĂƟŽŶ ŽŶ ƚŚĞ ƉƌŽĚƵĐƚ ůĂďĞů͕ ŽǀĞƌ ĂŶĚ ĂďŽǀĞ ǁŚĂƚ ŝƐ ŵĂŶĚĂƚĞĚ ĂƐ ƉĞƌ ůŽĐĂů ůĂǁƐ͍ zĞƐͬEŽͬEͬ͘͘ZĞŵĂƌŬƐ ;ĂĚĚŝƟŽŶĂů ŝŶĨŽƌŵĂƟŽŶͿ  :^W>͛ƐƐƚĞĞůƉƌŽĚƵĐƚƐĚŽŶŽƚŚĂǀĞĂŶLJŵĂŶĚĂƚŽƌLJůĂďĞůůŝŶŐ ƌĞƋƵŝƌĞŵĞŶƚƐ͘ ,ŽǁĞǀĞƌ͕ ŝŶ ŽƌĚĞƌ ƚŽ ĐŽŶǀĞLJ ƵƐĞĨƵů ŝŶĨŽƌŵĂƟŽŶƚŽĐƵƐƚŽŵĞƌƐ͕:^W>͛ƐƉƌŽĚƵĐƚƐďĞĂƌŝŶĨŽƌŵĂƟŽŶ ůĂďĞůƐ ƉƌŽǀŝĚŝŶŐ ĚĞƚĂŝůƐ ĂďŽƵƚ ƐƉĞĐŝĮĐĂƟŽŶƐ͕ ƐŝnjĞƐ ĂŶĚ ƋƵĂůŝƚLJ ŽĨ ƚŚĞ ƌĞƐƉĞĐƟǀĞ ƉƌŽĚƵĐƚ͘ ŐĂŝŶƐƚ ĞǀĞƌLJ ƐĂůĞ͕ ĐƵƐƚŽŵĞƌƐ ĂƌĞ ƉƌŽǀŝĚĞĚ ǁŝƚŚ ƚĞƐƚ ĐĞƌƟĮĐĂƚĞƐ ŝƐƐƵĞĚ ďLJ ĐĞƌƟĮĞĚ ƚŚŝƌĚ ƉĂƌƟĞƐ ƚŚĂƚ ĐŽŶƚĂŝŶ ƋƵĂůŝƚLJ ƉĂƌĂŵĞƚĞƌƐ ĂƐ ǁĞůůĂƐƚŚĞĐŚĞŵŝĐĂůĂŶĚƉŚLJƐŝĐĂůƉƌŽƉĞƌƟĞƐŽĨƚŚĞƉƌŽĚƵĐƚ͘ dŚĞĂďŽǀĞŝŶĨŽƌŵĂƟŽŶŝƐĂůƐŽĂǀĂŝůĂďůĞŝŶƉƌŽĚƵĐƚďƌŽĐŚƵƌĞƐ ƚŚĂƚĂƌĞŐŝǀĞŶƚŽĐƵƐƚŽŵĞƌƐ͘ ϯ͘ /Ɛ ƚŚĞƌĞ ĂŶLJ ĐĂƐĞ ĮůĞĚ ďLJ ĂŶLJ ƐƚĂŬĞŚŽůĚĞƌ ĂŐĂŝŶƐƚ ƚŚĞ ŽŵƉĂŶLJ ƌĞŐĂƌĚŝŶŐ ƵŶĨĂŝƌ ƚƌĂĚĞ ƉƌĂĐƟĐĞƐ͕ ŝƌƌĞƐƉŽŶƐŝďůĞ ĂĚǀĞƌƟƐŝŶŐĂŶĚͬŽƌĂŶƟͲĐŽŵƉĞƟƟǀĞďĞŚĂǀŝŽƵƌĚƵƌŝŶŐƚŚĞ ůĂƐƚĮǀĞLJĞĂƌƐĂŶĚƉĞŶĚŝŶŐĂƐŽŶĞŶĚŽĨĮŶĂŶĐŝĂůLJĞĂƌ͍  EŽĐĂƐĞŚĂƐďĞĞŶĮůĞĚďLJƐƚĂŬĞŚŽůĚĞƌƐĂŐĂŝŶƐƚƚŚĞŽŵƉĂŶLJ ƌĞŐĂƌĚŝŶŐ ƵŶĨĂŝƌ ƚƌĂĚĞ ƉƌĂĐƟĐĞƐ͕ ŝƌƌĞƐƉŽŶƐŝďůĞ ĂĚǀĞƌƟƐŝŶŐ ĂŶĚ ĂŶƟͲĐŽŵƉĞƟƟǀĞ ďĞŚĂǀŝŽƵƌ ĚƵƌŝŶŐ ƚŚĞ ůĂƐƚ ĮǀĞ LJĞĂƌƐ ĂŶĚ ŶŽ ƐƵĐŚ ĐĂƐĞƐ ƌĞŵĂŝŶ ƉĞŶĚŝŶŐ ĂƐ ŽĨ ĞŶĚ ŽĨ ĮŶĂŶĐŝĂů LJĞĂƌϮϬϭϮͲϭϯ͘

ϭϯϱ Annual Report 2012-13