Description
Mangalore Refinery & Petrochemicals Limited (MRPL) Annual Report 2011-12
1
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
ß0AP0 0F 0|PE6T0P$
S|r| Sud||r Vasudeva
S|r| P.P. upad|ya
S|r| V|s|ru AgraWa|
S|r| V|ve| Kurar
S|r| K. Vura||
0r. A.K.Ral|
S|r|.6 Rav|rdraral|
0r. 0. C|ardrase||arar
S|r| A.K. lazar||a
S|r| K.S. Jaresl|r
C|a|rrar
Varag|rg 0|reclor & 0|reclor (Tec|r|ca|)
0|reclor (F|rarce)
0|reclor
0|reclor
lrdeperderl 0|reclor
lrdeperderl 0|reclor
lrdeperderl 0|reclor
Spec|a| lrv|lee
Spec|a| |rv|lee
60HPANY $E6PETAPY
S|r| 0|res| V|s|ra
$0L|6|T0P$ & A0V06ATE$
V/s. Vu||a & Vu||a & Cra|g|e 6|url & Caroe, So||c|lors.
V/s. A|aya Lega|, Advocales.
PE0|$TEPE0 0FF|6E
Vudapadav, Kul|el|oor,
P.0 V|a Kal|pa||a,
Varga|ore- 5/5 030, Karrala|a
Te|. |o.: 0824-22/0400
weos|le.: WWW.rrp|.co.|r
J0|NT $TATuT0PY Au0|T0P$
V/s. Va|araj |.R. Sures| & Co,
C|arlered Accourlarls
V/s. 0opa|a|yer & Suorarar|ar,
C|arlered Accourlarls
60$T Au0|T0P
V/s. Vus|o & Assoc|ales
Cosl Accourlarls
ßANKEP$
Slale 6ar| ol lrd|a,
6ar| ol 6aroda,
Purjao |al|ora| 6ar|,
ur|led 6ar| ol lrd|a,
Carara 6ar|,
Corporal|or 6ar|,
l06l 6ar| Lld,
C|l|oar| |.A
60NTENT$ PA0E N0.
0|reclors'Reporl....................................................... 2
Varagererl0|scuss|orardAra|ys|sReporl........................................ 9
C&A0'sCorrerls...................................................... 11
Aud|lors'Reporl..................................................... 12
6a|arceS|eel....................................................... 14
Prol|l&LossAccourl................................................... 15
Cas|F|oWSlalererl.................................................... 1o
|oles................................................................ 1/
Reporl or Corporale 0overrarce............................................................................. 35
Reporl or Secrelar|a| Aud|l........................................................................................ 42
|ol|ce lor Arrua| 0erera| Veel|rg............................................................................ 44
Aoslracl ol Terrs ard Cord|l|ors ol Appo|rlrerl ol 0(T) ard 0(F) ....................... 45
F|veYearPerlorrarceal0|arce.............................................. 4o
|NVE$T0P PELAT|0N 6ELL
HAN0AL0PE PEF|NEPY AN0 PETP06hEH|6AL$ L|H|TE0
z Vudapadav, Kul|el|oor,
P.0 V|a Kal|pa||a,
Varga|ore- 5/5 030, Karrala|a
Te|. |o.: 0824-22/0400, Fax |o.: 0824-22/1404
z L0F, Vercarl||e louse
15,K.0.Varg,|eW0e|||?110001
Te| : 011-234o3100 Fax : 011-234o3201
E-ra||: |rveslorCrrp||rd|a.cor
weos|le.: WWW.rrp|.co.|r
z H|s. L|NK |NT|HE |N0|A PVT.LT0 [P&T Agent)
C-13 Parra|a| S||| V|||s Corpourd,
L.6.S Varg, 6|ardup (wesl),
Vuroa|- 400 0/8
Te|.: 022-259o3838 / 2594o9/0
Fax |o.: 022-2594o9o9
E-ra||: rrp||rcC||r||rl|re.co.|r
weos|le.: WWW.||r||rl|re.co.|r
2
Annua| Peport 2011-12
0ear Veroers,
0r oe|a|l ol l|e 6oard ol 0|reclors, l la|e p|easure |r preserl|rg l|e 24
l|
Arrua|
reporl or l|e perlorrarce ol your corpary, logel|er W|l| l|e Aud|l reporl ard
Aud|led accourl lor l|e year erded 31/03/2012.
ll |s a raller ol |rrerse sal|slacl|or l|al l|e perlorrarce ol your corpary ool|
or l|e P|ys|ca| as We|| as F|sca| pararelers crealed cerla|r reW oerc|rar|s ol
exce||erce dur|rg l|e year 2011-12.
Vajor ||g|||g|ls ol your Corpary's perlorrarce dur|rg l|e year are erureraled
oe|oW:
1. l|g|esl ever Rel|rery crude l|rupul al 12.82 VVTPA.
2. l|g|esl ever Turrover al ` 5/2,0o8 V||||or.
3. l|g|esl ever Exporl Turrover al ` 234,183 V||||or.
4. LoWesl ever Erergy corsurpl|or |rdex ol 5/.92 V6|.
5. |arep|ale capac|ly ol l|e rel|rery |as oeer er|arced lo 15 VVTPA W|l|
successlu| corr|ss|or|rg ol 3 VVTPA Crude ard Vaccur 0|sl|||al|or ur|l lll
(C0u&V0u lll) ol P|ase-lll projecl or 29/03/2012.
o. w|l| Corr|ss|or|rg ol C0u ard V0u-lll oelore 31/03/2012 your Corpary |s
e||g|o|e lor oerel|ls urder Secl|or 80(l6) ol l|e lrcore Tax Acl, 19o2 lor P|ase-
lll projecl.
/. 0overrrerl ol Karrala|a |as sarcl|ored ar allracl|ve Tax lrcerl|ve pac|age
lor l|e P|ase-lll projecl.
8. 0|ese| lydro Trealer/ lydroger 0ereral|or/ Co|er 0as 0|| lydro Trealer ur|ls
Were rec|ar|ca||y corp|eled oelore 31/03/2012.
9. 0PEAdjudgedperlorrarceolyourcorparyas¯Exce||erl¨lorl|eyear2010-
11 aga|rsl l|e Vou largel.
1.1 F|NAN6|AL PEPF0PHAN6E
(` lr V||||or)
Year ended
31
st
Harch, 2012
Year ended
31
st
Harch, 2011
Turnover 5I2,0ê8 43I,23ê
Prol|l oelore 0eprec|al|or
lrleresl ard Tax
19,o08 22,332
lrleresl ard F|rarce C|arges 2,0o/ 1,04/
0ross Prol|l aller |rleresl oul oelore
0eprec|al|or ard Tax
1/,541 21,285
0eprec|al|or ard Arorl|zal|ors 4,339 3,914
Prof|t ßefore Tax 13,202 1I,3I1
Prov|s|or lor Taxal|or 4,11o 5,o05
Prof|t after Tax 9,08ê 11,Iêê
6a|arce ol Prol|l/(Loss) oroug|l lorWard
lror prev|ous year
42,998 33,959
$urp|us ava||ab|e for appropr|at|on 52,0I4 45,I2I
Appropr|at|ons:
Proposed d|v|derd or Prelererce
S|ares (` 9,18o)
0.000 0.00
Proposed 0|v|derd or Equ|ly S|ares 1,/53 2,103
Tax or 0|v|derd 284 341
Trarsler lo Cap|la| Rederpl|or Reserve 4o -
Trarsler lo 0erera| reserve - 295
ßa|ance carr|ed to ßa|ance $heet 49,991 42,988
1.2 0|V|0EN0
T|e 6oard ol 0|reclors ol your corpary |s p|eased lo recorrerd d|v|derd
payoul ol 10º (` 1/- per equ|ly s|are) ol ` 10/- eac| lu||y pa|d-up |r v|eW ol
l|e orgo|rg projecl |rveslrerl ard l|e reduced prol|lao|||ly. T||s W||| aosoro `
2,03o V||||or |rc|ud|rg ` 284 V||||or as d|v|derd d|slr|oul|or lax.
0|PE6T0P$'PEP0PT
1.3 0PEPAT|0NAL PEPF0PHAN6E
T|e l|g|esl ever Rel|rery l|rupul Was 12.82 VVTPA lor l|e year 2011-12
corpared lo 12.o4 VVTPA dur|rg l|e prev|ous year. 0ur|rg l|e |asl l|sca|, your
Corpary|ascorp|eledl|erevarpol|lsC0u/V0u?lur|lasWe||aslydro
Crac|er ur|l-ll. Your corpary, |eep|rg |r v|eW l|e process requ|rererl ard lo
ra|rla|r ||g| ul|||zal|or ol |ls assels, |as p|arred l|ese revarps a|org W|l| l|e
lurrarourd s|uldoWrs dur|rg l|e year 2011-12. 0ur|rg l|e year 2011-12, your
corpary |as processed l|ree reW crudes |.e., Agoar|, C0C0, Ve|||la| ard
corl|rues lo expard |ls crude oas|el.
1.4 EXP0PT$
Your corpary |as ac||eved ||g|esl ever exporl lurrover ol ` 234,183 V||||or
dur|rg l|e year 2011-12 oy exporl|rg producls |||e Volor Sp|r|l (VS), |ap|l|a,
V|xed Xy|ere, l|g| Speed 0|ese| (lS0), Jel lue| ard Fue| 0|| (F0).
Your Corpary corl|rues lo |ave l|e Terr exporl corlracl lor l|e supp|y ol
pelro|eur producls lo Vaur|l|us W|l| l|e Slale Trad|rg Corporal|or (STC),
Vaur|l|us.
lr l|e g|ooa| corpel|l|ve rar|el, your corpary |as secured |ls p|ace oy
exporl|rg l|e pelro|eur producls ard corl|rues lo exp|ore opporlur|l|es lor |ls
groWl|.
1.5 $AFETY PEPF0PHAN6E
T|e year 2011-12 W|lressed successlu| ard sale corr|ss|or|rg ol C0u/V0u-
lll ol P|ase-lll. Your corpary |as a|so recorded |orgesl acc|derl lree per|od
ol 1oo2 days dur|rg l|e year oy surpass|rg prev|ous oesl record ol 1301 days
dur|rg l|e year.
Your corpary |s corr|lled loWards |rparl|rg corl|ruous lra|r|rg |r l|re &
salely pracl|ces. 0ur|rg l|e year urder rev|eW, 885 |os. ol P|arl erp|oyees
ard /,184 |os. ol corlracl erp|oyees Were lra|red |r F|re ard lrduslr|a| Salely.
Erp|oyees ol your corpary Were a|so lra|red or salely aspecls ard pracl|ces
dur|rg l|e year.
Your corpary |as corducled Vu|l|d|sc|p||rary lrlerra| Salely Aud|l ard
0lS0 exlerra| surpr|se aud|l Was a|so corducled dur|rg l|e year ard |ls
recorrerdal|ors are oe|rg corp||ed W|l|.
1.ê ENV|P0NHENT HANA0EHENT
Your corpary oe||eves |r ¯Perlorr oeyord Corp||arce¨ lor Prolecl|or ol
l|e Erv|rorrerl. Your Corpary |s lS0 14001:2004 cerl|l|ed corpary,
aul|erl|caled oy TuV R|e|r|ard.
Your Corpary |as urderla|er lo||oW|rg rajor |r|l|al|ves lor 0reerer
Erv|rorrerl dur|rg l|e |asl l|sca| :
? wel A|r 0x|dal|or ur|l |s urder lr|a| lo lreal Sperl Causl|c ard lo |rprove
l|e wwTP perlorrarce.
? Ar advarced Reverse 0sros|s P|arl |s oe|rg corr|ss|ored lor
rax|r|z|rg l|e quarl|ly ol lrealed ell|uerl recyc|e.
? Cordersale Recovery ur|l corr|ss|ored |r C0u-1 resu|l|rg reducl|or |r
lres| Waler corsurpl|or. S|r||ar ur|ls are p|arred lor ol|er process ur|ls
as We||.
? Secord corl|ruous aro|erl a|r qua||ly ror|lor|rg sysler Was |rsla||ed |r
l|e rel|rery lo ror|lor l|e aro|erl a|r qua||ly.
? Ar exlerra| agercy ror|lors Aro|erl A|r 0ua||ly al / |ocal|ors |r ard
arourd l|e rel|rery.
? A C|osed 6|orered|al|or ur|l |s oe|rg corr|ss|ored |r l|e rel|rery lo
lreal o||y s|udge gereraled |r l|e rel|rery.
? V0C Er|ss|or ror|lor|rg |s oe|rg dore al /4,000 po|rls |r l|e rel|rery
l|roug| repuled agercy ard correcl|ve reasures la|er lo ellecl|ve|y
r|r|r|ze l|e sare.
? Corrur|ly aWareress prograrre Was orgar|zed |r l|e re|g|oor|rg
v|||ages |r assoc|al|or W|l| Karrala|a Slale Po||ul|or Corlro| 6oard.
? lr a ur|que parlrers||p W|l| Karrala|a Foresl 0eparlrerl, your corpary
|s deve|op|rg greer oe|l |r 120 acres ol |ard. As a l|rsl slage, 40,000
sap||rgs are oe|rg groWr |r ar olls|le rursery oy l|e Foresl 0eparlrerl,
W||c| W||| oe |aler lrarsp|arled |r l|e greer oe|l.
3
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
1.ê.1 Env|ronmenta| Performance:
Your corpary corl|rues lo corp|y W|l| l|e Erv|rorrerla| Regu|al|ors ard
a|so ra||rg |ls oesl ellorls lor prolecl|or ol erv|rorrerl oy la||rg var|ous
sleps.
Fo||oW|rg rajor acl|ors Were la|er lo preverl Waler ard a|r po||ul|or.
water:
x Ell|uerl lrealrerl p|arl operal|or Was rorra| l|roug|oul l|e year.
x Trealed ell|uerl qua||ly Was We|| W|l||r l|e prescr|oed ||r|ls.
x SeaWaler qua||ly ror|lor|rg carr|ed oul oy V/s. Co||ege ol F|s|er|es
|rd|cales ro adverse ellecl or l|e rar|re erv|rorrerl due lo lrealed
ell|uerl d|sc|arge.
x Average lrealed ell|uerl recyc|e lo coo||rg loWers dur|rg l|e year Was
aooul /4º
x Trealed ell|uerl aller rax|rur recyc|e ard W|l||r l|e sl|pu|aled slardards
are d|sc|arged |rlo sea al a d|slarce ol /00 r ard al a depl| ol o.5r
l|roug| d|llusers lor rax|rur d|spers|or & d||ul|ors. lrdeperderl
goverrrerl agercy ror|lors l|e rar|re eco|ogy al l|e oulla|| po|rl |r l|e
sea or a lorlr|g|l oas|s. T||| dale l|ere |as oeer ro adverse ellecl or l|e
rar|re eco-sysler.
x Coo||rg loWers are operaled al grealer l|ar o Cyc|es ol corcerlral|or,
l||s reasure |as oroug|l doWr l|e coo||rg loWer o|oW doWr. Rel|rery
pracl|ces l|e cascade o|oW doWr sysler |r l|e coo||rg loWers lo corserve
Waler ard c|er|ca|s.
A|r:
x Var|ous erergy corserval|or sc|eres are |rp|ererled lor reduc|rg a|r
er|ss|or.
x ul|||zal|or ol |oW su|p|ur (|ess l|ar 1º S) lue| o|| |r lurraces, W|l| average
su|p|ur corlerl, |ess l|ar 1º ra|rla|red |rlo lue| o||.
x Vax|rur ul|||zal|or ol u|lra LoW Su|p|ur Fue| 0as (|ess l|ar 10 ppr S) |r
lurraces.
x SRu ur|ls are rurr|rg W|l| rore l|ar 99º ell|c|ercy.
x Aro|erl a|r qua||ly ror|lor|rg oe|rg dore |rs|de ard ouls|de l|e Rel|rery
oy repuled exlerra| agercy as per rev|sed |al|ora| Aro|erl A|r 0ua||ly
Vor|lor|rg Slardard sel oy V|r|slry ol Erv|rorrerl & Foresls (VoEF).
x Regu|ar ror|lor|rg |as r|r|r|zed l|ar|rg.
x 0a||y average Su|p|ur d|ox|de er|ss|ors lror l|e rel|rery |epl oereal|
l|e prescr|oed ||r|ls ol 40.0 T/day.
1.ê.2 $o||d waste Hanagement and |mp|ementat|on of $upreme 6ourt
Hon|tor|ng 6omm|ttee [$6H6) Pecommendat|ons:
x 125 VT ol sperl acl|valed caroor Was d|sposed oll.
x 6|orered|al|or ol 2000 Torres ol o||y s|udge |as oeer corp|eled
successlu||y.
1.ê.3 No|se Po||ut|on 6ontro|:
Acousl|c erc|osures are prov|ded lor 00 sels al Sarapady ard APVC purp|rg
slal|or.
1.ê.4 Future P|ans:
x ul|||zal|or ol L|qu|l|ed |alura| 0as (L|0) as a|lerral|ve lue| |r l|e Rel|rery.
x VapourrecoverySyslerlor||g|l|ydrocaroorsloragelar|s|rP|ase?lll
Rel|rery Projecl.
x V0C Recovery sysler |r wasle waler Trealrerl P|arl (wwTP) ol P|ase- lll.
1.I HAPKET|N0
0omest|c Harket|ng of Products
Your Corpary corl|rues lo |rcrease |ls rar|el s|are |r l|e d|recl sa|es
segrerl ol pelro|eur producls |r l|e slale ol Karrala|a ard |ls adjo|r|rg slales.
T|e d|recl sa|es lurr over dur|rg l|e year Was ` 2/,552 V||||or corpared lo `
22,912 V||||or |r l|e prev|ous l|sca|.
0ur|rg l|e year 6|lurer sa|es Was |rcreased lo 293 TVT lror 248 TVT so|d
dur|rg l|e prev|ous year, reg|sler|rg a groWl| ol 18º, Furrace 0|| sa|es Was
|rcreased lo 14o TVT dur|rg l|e year lror 99 TVT so|d dur|rg l|e prev|ous
year, reg|sler|rg a groWl| ol 4/º ard V|xed Xy|ere sa|es Was a|so |rcreased
oy l|reelo|d dur|rg l|e year.
1.I.1 Peta|| 0perat|ons
Keep|rg |r v|eW l|e urder recover|es |r rela|| rar|el|rg ol aulo-lue|s, your
corpary corl|rues lo adopl a ror aggress|ve approac| W|l| |ls r|r|scu|e
preserce |r l|e rela|| rar|el|rg.
1.I.2 NeW Products Harket|ng P|an
Your corpary |s sell|rg up a Po|ypropy|ere (PP) p|arl W|l| l|e capac|ly ol
440 KTPA, |rlegraled W|l| P|ase- lll expars|or ol rel|rery corp|ex W|l| ar
|rveslrerl ol ` 18,03/.8 V||||or lor supp|y|rg lo doWrslrear process|rg
|rduslry. 0ela||ed ous|ress p|ar lor sa|e ol Po|ypropy|ere |r doresl|c rar|el |s
oe|rg l|ra||zed. Slorage |rlraslruclure lor Po|ypropy|ere |s oe|rg deve|oped al
lassar |r l|e Slale ol Karrala|a.
Your corpary |s a|so sell|rg up a 0e|ayed Co|er ur|l (0Cu) |r |ls P|ase- lll
expars|or projecl, W||c| W||| produce Pelco|e, a reW producl |r l|e producl
oas|el. 0ela||ed ous|ress p|ar |s oe|rg l|ra||zed lor sa|e ol Pelco|e lo rajor
lrduslr|a| corsurers |r Soul|err lrd|a.
1.I.3 Jo|nt Ventures
Your Corpary |s |r Jo|rl Verlure (JV) W|l| S|e|| 6.V. |el|er|ard |roWr as
S|e|| VRPL Av|al|or Fue| Serv|ces Pr|vale L|r|led (SVAFSPL) W||c| supp||es
Av|al|or Turo|re Fue| (ATF) lo ool| doresl|c ard |rlerral|ora| a|r||res al lrd|ar
a|rporls.
SVAFSPL |s aggress|ve|y acqu|r|rg rar|el s|are |r ool| doresl|c ard
|rlerral|ora| a|r||res al lrd|ar a|rporls. ll |as correrced |ls relue|||rg
operal|ors al Varga|ore a|rporl.
Your corpary corl|rues lo |o|d 50º equ|ly |r l|e Jo|rl Verlures oy |o|d|rg 15
V||||or equ|ly s|ares Worl| ol ` 150 V||||or.
Turrover ol l||s JV Corpary Was ` 5,1/3.48 V||||or dur|rg l|e year aga|rsl
` 2,8o/.03 V||||or dur|rg l|e prev|ous year ard l|e Pre-lax prol|l ol ` 181.59
V||||or dur|rg l|e year aga|rsl ` 13o.28 V||||or dur|rg l|e prev|ous year.
T|e JV Corpary dec|ared |ls ra|der d|v|derd ol ` 1 per equ|ly s|are ol ` 10
eac| lu||y pa|d dur|rg l|e year.
2. AwAP0$ AN0 PE600N|T|0N:
Your corpary |as oeer recogr|zed lor |ls exce||erce |r a|| ol |ls operal|ora|
areas ard rece|ved lo||oW|rg aWards dur|rg l|e year:
? wor l|e ¯urral|a Sura|s|a Puras|ara¨ aWard ? 2011 corlerred oy
|al|ora|SalelyCourc||?Karrala|aC|aplerlor0ulslard|rgPerlorrarce
|r Salely Varagererl Syslers.
? ¨Exce||erl¨ Vou ral|rg rece|ved lror 0eparlrerl ol Puo||c Erlerpr|se,
0overrrerl ol lrd|a lor l|e year 2010-11.
? Secured secord pr|ze lor oulslard|rg perlorrarce |r l|e area ol l|rd|
|rp|ererlal|or lor l|e year 2010-2011 oy l|e ToWr 0ll|c|a| Larguage
Corr|llee (T0LlC), Varga|ore.
? wor 6T- STAR PSu Exce||erce aWard 2012 lor Exce||erce |r Var|el
Cap|la||zal|or.
? wor0lS0'VoslCors|slarlPerlorrer(Rel|rer|es)'AWardlor2009-10
3. 6PE0|T PP0F|LE
3.1 lCRAL|r|led|asreall|rredlssuerRal|rg¯lrAAA¨(prorourcedlRTr|p|eA)lo
your corpary. T||s ral|rg |rd|cales l|e ||g|esl cred|l qua||ly ral|rg ass|gred oy
lCRA ard l|e raled erl|ly |.e., W||c| carr|es l|e |oWesl cred|l r|s|.
3.2 lCRA |as reall|rred l|e ral|rg ass|gred lo l|e ` 15,000 V||||or Furd- 6ased
||r|lsolyourcorparyal¯[lCRA|AAA¨(prorourcedlCRATr|p|eA).T|eoul|oo|
orl|eral|rg|s¯Slao|e¨.
3.3 lCRA |as a|so reall|rred l|e ral|rg reass|gred lo l|e ` 55,000 V||||or |or-
Furdoased||r|lsolyourcorparyal¯[lCRA|A1÷¨(prorourcedaslCRAAore
p|us).
3.4 lCRA|asreall|rred¯[lCRA|A1÷¨(prorourcedaslCRAAorep|us).T||sral|rg
|rd|cales l|e very slrorg degree ol salely regard|rg l|re|y payrerl ol l|rarc|a|
oo||gal|ors |.e., W||c| carr|es l|e |oWesl cred|l r|s|.
3.5 CRlSlL|asreall|rred¯[CCRAAA|(prorourcedasCCRTr|p|eA).T||sral|rg
|rd|cales ||g|esl degree ol slrergl| W|l| regard lo |oror|rg deol oo||gal|ors oy
your corpary.
4
Annua| Peport 2011-12
4. F|NAN6|AL A660uNT|N0
T|e l|rarc|a| slalererls |ave oeer prepared |r accordarce W|l| l|e 0erera||y
Accepled Accourl|rg Pr|rc|p|es (0AAP) ard |r corp||arce W|l| a|| app||cao|e
accourl|rg slardards ard as per l|e gu|darce role or accourl|rg lor acl|v|l|es
ol l|e corpary |ssued oy T|e lrsl|lule ol C|arlered Accourlarls ol lrd|a (lCAl)
ard prov|s|ors ol l|e Corpar|es Acl, 195o. T|e l|rarc|a| slalererls |ave oeer
prepared urder l|e Rev|sed Sc|edu|e Vl lorral ol l|e Corpar|es Acl, 195o
pursuarl lo rol|l|cal|or ol V|r|slry ol Corporale Alla|rs (VCA), 0overrrerl ol
lrd|a.
5. |NTEPNAL 60NTP0L $Y$TEH
Your corpary rera|rs corr|lled lo ersure ar ellecl|ve |rlerra| corlro|
erv|rorrerl l|al prov|des assurarce or l|e ell|c|ercy ol operal|ors ard
secur|ly ol assels.
lrlerra| aud|l deparlrerl lurcl|ors urder l|e superv|s|or ol l|e Aud|l
Corr|llee c|a|red oy ar lrdeperderl 0|reclor. Your corpary |as a We||
eslao||s|ed |rlerra| corlro| rev|eW rec|ar|sr W||c| assures ellecl|ve |rlerra|
corlro| erv|rorrerl lo l|e Aud|l Corr|llee ard 6oard ol 0|reclors.
ê. PP0JE6T$
ê.1 Phase-||| Pef|nery Expans|on and up gradat|on Pro[ect
As you are aWare l|al your corpary |s |rp|ererl|rg P|ase-lll rel|rery
expars|or ard up gradal|or projecl al ar esl|raled cosl ol ` 121,o00 V||||or,
W||c| W||| dr|ve l|e lulure groWl| ol l|e corpary.
Vajor ||g|||g|ls ol P|ase-lll rel|rery expars|or ard up gradal|or projecl are as
urder:
? w|l| l|e |rcreased capac|ly ol 15 VVTPA your corpary |s We|| p|aced |r
l|e rar|el v|s-e-v|s |ls peers |r l|e lrduslry.
? Your corpary |s l|e secord rel|rery |r l|e courlry, capao|e ol process|rg
||g| TA| crudes.
? T|e'|e|sorCorp|ex|lylrdex'oll|erel|reryolyourcorparyer|arced
lo approx|rale|y 9.0 lror o.0.
? T|e 0|sl|||ale y|e|d ol l|e rel|rery W||| oe |rcreased oy approx|rale|y 80º.
? Your corpary W||| produce va|ue added producls |||e Propy|ere lror l|e
|oW va|ue o|ac| o||.
? T|e 0|ese| lydro Trealer (0l0T) ol l|e rel|rery ol your corpary W|||
corverl l|e l|g| Speed 0|ese| (lS0) |rlo Euro ?lll, lV ardV grade lor
doresl|c ard g|ooa| rar|el.
T|e P|ase-lll projecl |s oe|rg execuled |r |yor|d rode cors|sl|rg ol var|ous
rodes ol execul|or v|z., Erg|reer|rg, Procurererl ard Corslrucl|or
Varagererl (EPCV), 0per 6oo| Execul|or (06E) ard Lurp Sur Turr
Key (LSTK). V/S Erg|reers lrd|a L|r|led (ElL) |s l|e Projecl Varagererl
Corsu|larl. V/S Jacoo |s l|e EPCV Corlraclor lor l|e C0u/V0u ard V/S
ElL |s l|e corlraclor lor Pelro F|u|d|zed Cala|yl|c Crac||rg ur|l (PFCCu) ard
Su|p|ur Recovery ur|l (SRu) W||c| are execuled urder 06E ard LSTK.
Your corpary |as ac||eved ar overa|| progress ol 95./º aga|rsl sc|edu|ed
largel ol 100º as ol 15/0//2012 |r P|ase-lll projecl ard |s |r l|e process ol
progress|ve corr|ss|or|rg ol l|e lo||oW|rg rajor ur|ls:-
(|) lydroger 0ereral|or ur|l (l0u)
(||) 0|ese| lydro Trealer ur|l (0l0T)
(|||) Su|p|ur Recovery ur|l (SRu)
(|v) Capl|ve PoWer P|arl (CPP)
(v) Pelro F|u|d|zed Cala|yl|c Crac||rg ur|l (PFCCu)
(v|) 0e|ayed Co|er ur|l ( 0Cu)
(v||) Co|er 0as 0|| lydro Trealer ur|l (ClTu)
T|e crude Was cul |rlo C0u ard V0u ol P|ase-lll or 25/03/2012 aller
rec|ar|ca| corp|el|or ol recessary l|re Waler relWor|, l|are relWor|, ul|||l|es
corlro| syslers ard var|ous l|r|s|ed producls Were rouled lo respecl|ve slorage
lar|s or 29/03/2012.
lydroger 0ereral|or ur|l (l0u) Was succuslu||y corr|ss|ored or 18/0//2012
TWo crude slorage lar|s eac| |av|rg o0,000 r3 capac|ly Were corr|ss|ored
or 30/3/2012 lo er|arce l|e crude slorage capac|ly ol l|e rel|rery ol your
corpary.
wel A|r 0x|dal|or ur|l, a parl ol l|e aux|||ary ur|ls/lac|||l|es Was corr|ss|ored
or 13/12/2011.
T|e P|ase-lll projecl |as lydrocaroor slrears |rlercorrecl|ors W|l| l|e
ex|sl|rg P|ase- l & ll ol l|e rel|rery ol your corpary. Revarp ol l|e ex|sl|rg
lydro Crac|er ur|ls (lCu-1 ard lCu-2) |as oeer successlu||y corp|eled ard
corr|ss|ored dur|rg Vay, 2012.
Your corpary |s p|eased lo |rlorr l|al l|e 0overrrerl ol Karrala|a |as g|ver
ar allracl|ve |rcerl|ve pac|age cors|sl|rg ol lo||oW|rg l|sca| oerel|ls lor P|ase-
lll projecl:
? Exerpl|or lror payrerl ol Erlry Tax or p|arl ard rac||rery ard cap|la|
goods dur|rg l|e |r|l|a| per|od ol 4 years lror l|e dale ol corrercererl
ol projecl |rp|ererlal|or.
? Exerpl|or lror payrerl ol Erlry Tax or l|e crude o|| l|rupul |r P|ase-lll
lor 15 years lror l|e slarl ol correrc|a| producl|or ol l|e P|ase-lll.
? Exerpl|or lror Cerlra| Sa|e Tax lor 15 years lror l|e dale ol
corrercererl ol correrc|a| producl|or lor a|| l|e |rlerslale sa|es.
? lrleresl lree soll |oar al l|e rale ol 100º ol e||g|o|e gross VAT lor l|rsl
3 years ard o0º ol e||g|o|e gross VAT or l|e sa|e ol Po|ypropy|ere,
Pelro|eur Co|e, LSlS, |ap|l|a, LP0 (|rcrererla| producl|or), V|xed
Xy|eres ard relorrale lo ror SEZ ur|ls lor rexl 12 years lo oe repa|d
aller 15 years oy 15 equa| arrua| |rsla||rerls ||r|led lo ` 5000 V||||or per
arrur.
T|e P|ase-lll projecl ol your corpary |s roW e||g|o|e lor lrcore Tax oerel|l
urder Secl|or 80(l6) ol l|e lrcore Tax Acl, 19o2 as |l |as successlu||y
corr|ss|ored C0u ard V0u ol P|ase-lll projecl or 29/03/2012 oelore l|e
sursel dead||re ol 31/03/2012 .T||s oerel|l W||| p|ace your corpary |r a oeller
pos|l|or lor corpel|rg W|l| |ls peers |r l|e rar|el.
lydroger 0ereral|or (l0), 0|ese| lydro Trealer (0l0T), ard Co|er 0as 0||
lydro Trealer (ClT) ur|ls a|org W|l| re|aled ul|||l|es Were a|so rec|ar|ca||y
corp|eled oelore Varc| 2012. T|e pre-corr|ss|or|rg acl|v|l|es ol l|ese ur|ls
are rear|rg corp|el|or oy exlerd|rg slear ard poWer lror l|e ex|sl|rg lac|||l|es
ol P|ase-l ard P|ase-ll due lo de|ay |r corr|ss|or|rg ol Capl|ve PoWer P|arl
(CPP) ol P|ase -lll oy |ls LSTK corlraclor ( V/s 6lEL). ll |s expecled l|al V/s
6lEL W||| oe ao|e lo corr|ss|or CPP ol P|ase-lll oy l|e erd ol Sepleroer
2012 as assured oy |l.
ê.2 Po|ypropy|ene Pro[ect
As you are aWare l|al your corpary |s sell|rg up a Po|ypropy|ere (PP) ur|l
|rlegraled W|l| l|e P|ase-lll projecl al ar esl|raled Capex ol ` 18,03/.8
V||||or. V/s. Erg|reers lrd|a L|r|led (ElL) |as oeer ergaged lo |rp|ererl
l||s projecl urder 06E corverlao|e lo LSTK rel|odo|ogy ard V/s. |ovo|er
Tec|ro|ogy, 0errary |as oeer se|ecled as l|e ||cersor lor l|e sare.
Projecl 0|sp|aced Far|||es (P0F) proo|ers |ad de|ayed l|e s|le Wor| W||c|
resu|led |r s||ll|rg l|e |ocal|or ol l||s projecl. Fres| erv|rorrerla| c|eararce
|as oeer oola|red lror l|e V|r|slry ol Erv|rorrerl ard Foresl (VoEF) due lo
s||ll|rg ol l|e |ocal|or.
Po|ypropy|ere Projecl |as ac||eved ar overa|| progress ol 82.2º aga|rsl
sc|edu|ed largel ol 9/./º as ol 15/0//2012. Cosl corr|lrerl rade lor l||s
projecl Was ` 12,9/o.o V||||or ard l|e curu|al|ve experd|lure |rcurred Was
` 5,492.1 V||||or as ol 31/03/2012.
ê.3 $|ng|e Po|nt Hoor|ng ($PH) Pro[ect
Your corpary |s sell|rg up S|rg|e Po|rl Voor|rg (SPV) projecl a|org W|l|
coasla| ooosler purp|rg slal|or W|l||r l|e porl ||r|ls al a |ocal|or ol 1o
|||orelers |rs|de l|e sea (l|g|-Seas) |av|rg drall ava||ao|||ly ol 30 relers lor
|ard||rg Very Large Crude Carr|er (VLCC) al ar esl|raled cosl ol ` 10,440
V||||or.
SPV lac|||ly W||| |ave lo||oW|rg advarlages:
a. use ol VLCC W||| reduce l|e average lre|g|l cosl ol crude.
o. F|ex|o|||ly lo rece|ve opporlur|ly crudes lror wesl Alr|car ard Lal|r
Arer|car courlr|es.
c. 0e-corgesl|or ol ex|sl|rg jell|es al |eW Varga|ore Porl Trusl (|VPT) W|||
resu|l |r |ard||rg rore pelro|eur producls.
d. Crude W||| oe purped lo l|e lrd|ar Slraleg|c Pelro|eur Reserve L|r|led
(lSPRL) urdergrourd caverr lor slorage ol Crude o|| al Varga|ore ard Padur.
5
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
S|rg|e Po|rl Voor|rg (SPV) projecl |as ac||eved ar overa|| progress ol 95.oº
aga|rsl l|e sc|edu|ed largel ol 100º as ol 15/0//2012 ard |s expecled lo
correrce lr|a| operal|or oy l|e erd ol Sepleroer, 2012.
ê.4 Future Pro[ects for 0roWth
0ur|rg 0|ooa| lrveslors Veel or /
l|
& 8
l|
Jure, 2012 al 6erga|uru, your
corpary |as s|gred a Verorardur ol urderslard|rg W|l| l|e 0overrrerl
ol Karrala|a lor sell|rg up a L|rear A||y| 6erzere P|arl (a raW raler|a| lo
rarulaclure 0elergerls) ard lo expard |ls rel|r|rg capac|ly lo 21 VVTPA
suojecl lo lec|ro- ecoror|c v|ao|||ly ard ava||ao|||ly ol requ|red |rlraslruclure al
Varga|ore W|l| ar approx|rale |rveslrerl ol ` 85,000 V||||or.
I. 60N$EPVAT|0N 0F ENEP0Y, TE6hN0L00Y Aß$0PPT|0N AN0
F0PE|0N EX6hAN0E EAPN|N0$ & 0uT00
T|e add|l|ora| |rlorral|or requ|red lo oe d|sc|osed pursuarl lo Secl|or 21/(1)
(e) ol l|e Corpar|es Acl,195o read W|l| l|e Corpar|es (0|sc|osure ol
Parl|cu|ars |r l|e Reporl ol 0|reclors) Ru|es, 1988 W|l| respecl lo corserval|or
ol erergy, lec|ro|ogy aosorpl|or ard lore|gr exc|arge earr|rgs & oulgo are
lurr|s|ed|r'Arrexure-l'W||c|lorrsparloll||sReporl.
8. PAPT|6uLAP$ 0F EHPL0YEE$
Your corpary oe|rg a goverrrerl corpary |s exerpled lror d|sc|osure ol
parl|cu|ars ol erp|oyees urder Secl|or 21/(2A) ol l|e Corpar|es Acl, 195o,
ard l|e Parl|cu|ars ol Erp|oyees Arerdrerl Ru|es, 2011.
9. P|0hT T0 |NF0PHAT|0N A6T, 2005
Your corpary |as a RTl rarua| posled |r l|e Weos|le WWW.rrp|.co.|r.
0ur|rg l|e year 8/ app||cal|ors Were rece|ved, oul ol W||c| 82 Were d|sposed
oll oelore 31/03/2012 ard oa|arce 5 app||cal|ors d|sposed oll aller 01/04/2012.
10. huHAN PE$0uP6E$
x 0ur|rg l|e year 2011-12, your corpary corl|rued lo erjoy cord|a| ard
|arror|ous re|al|ors W|l| l|e co||ecl|ves ard as ev|derce lo l|e sare rol
a s|rg|e rar-|our Was |osl or accourl ol ary |rduslr|a| d|sluroarce.
x Your corpary |as recru|led 1o8 erp|oyees |rc|ud|rg 13 Worer erp|oyees
dur|rg l|e year 2011-12, oul ol l|ese 20 erp|oyees are Sc|edu|e Casle
(SC), 12 Sc|edu|e Tr|oe (ST) ard 1 P|ys|ca||y C|a||erged (PC).
x Tola| erp|oyee slrergl| as or 31/03/2012 Was 1500 |rc|ud|rg 104 Worer
erp|oyees, oul ol l|ese erp|oyees, 59/ are lror Varagererl cadre
W|ereas 903 are lror |or-Varagererl cadre. T|e ruroer ol erp|oyees
oe|org|rg lo SC/ST calegor|es are 129 ard P|ys|ca||y C|a||erged are 5.
x 0ur|rg l|e year 2011-12, your corpary devoled 5095 rar-days lor
Tra|r|rg, 0eve|oprerl ard Learr|rg W||c| arourls lo ar average 3.45
rar-days per erp|oyee. T||s |rc|udes lurcl|ora|, deve|oprerla| ard
spec|a| lra|r|rg progrars cover|rg l|e erl|re speclrur ol erp|oyees.
11. 0FF|6|AL LAN0uA0E [0L)
Your corpary corl|rues lo |rp|ererl 0ll|c|a| Larguage (0L) Po||cy as per
l|e Arrua| Prograrre prescr|oed oy l|e 0eparlrerl ol 0ll|c|a| Larguage,
V|r|slry ol lore Alla|rs, 0overrrerl ol lrd|a, |r l||s regard lo||oW|rg sleps
Were urderla|er dur|rg l|e year.
x Per|od|ca| reporls are serl lo a|| l|e 0overrrerl agerc|es |rc|ud|rg
Adr|r|slral|ve V|r|slry, V|r|slry ol Pelro|eur ard |alura| 0as (VoP&|0)
||g|||g|l|rg l|e progress rade |r prorol|or ol l|rd|.
x l|rd| Wor|s|ops ard l|rd| c|asses rare|y Praood|, Praveer ard Pragya
are orgar|zed or a regu|ar oas|s.
x Spec|a| ellorls Were rade lo acl|vale ur|code lac|||l|es or a|| l|e corpulers
used |r l|e oll|ce lor |rcreas|rg l|e corresporderce |r 0L.
x To rol|vale erp|oyees, |rcerl|ve sc|eres suc| as cas| aWard ard
persora| pay |s |rlroduced.
x Ar 0L |rspecl|or ol var|ous deparlrerls ard oll|ces Was carr|ed oul.
l|rd| Forlr|g|l Was ce|eoraled ard rary l|rd| corpel|l|ors suc| as l|rd|
d|clal|or, lardWr|l|rg, Adr|r-0|ossary, speec| elc. Were corducled lor l|e
erp|oyees ard l|e|r lar||y reroers dur|rg l|e year.
Corpel|l|ors are a|so |e|d |r l|rd| |arguage lor erp|oyees ard l|e|r lar||y
reroers dur|rg |al|ora| Salely 0ay, Erv|rorrerl 0ay, Secur|ly aWareress
Wee| ard V|g||arce aWareress Wee|.
l|rd| lasya Kav| Sarre|ar Was |e|d or 30/03/2012, 5 |al|ora| |eve| er|rerl
l|rd| poels lror d|llererl parls ol l|e courlry parl|c|paled |r l||s prograrre
orgar|zed oy your corpary.
0ll|c|a| Larguage lrp|ererlal|or Corr|llee (0LlC) reel|rgs, Were |e|d or
quarler|y oas|s urder l|e c|a|rrars||p ol Varag|rg 0|reclor. A|| oul ellorls are
oe|rg rade lo prorole 0L |r your corpary.
Your corpary |as oeer aWarded l|rsl pr|ze lor oulslard|rg perlorrarce
|r l|rd| |rp|ererlal|or lor l|e year 2011-12 oy l|e ToWr 0ll|c|a| Larguage
lrp|ererlal|or Corr|llee (T0LlC), Varga|ore. Your corpary a|so Wor e|g|l
pr|zes ard slood Secord al l|e T0LlC |eve| corpel|l|ors.
12. V|0|LAN6E FuN6T|0N
Your corpary |as deve|oped a slruclured rec|ar|sr ol v|g||arce lurcl|ors
ard |ls pracl|ces are locused loWards creal|or ol va|ue lor a|| l|e sla|e|o|ders.
T|e pracl|ces |rvo|ve ru|l|-|ayer c|ec|s ard oa|arces lo |rprove lrarsparercy.
V|g||arce aWareress ard preverl|ve v|g||arce acl|v|l|es Were corl|ruous|y
carr|ed oul dur|rg l|e year. 0u|de||res ol Cerlra| V|g||arce Corr|ss|or are
oe|rg lo||oWed. 0ll|cers |r sers|l|ve posls are rolaled regu|ar|y.
w||sl|e 6|oWer Po||cy lor erp|oyees |s |r p|ace W||c| ersures l|al a geru|re
W||sl|e o|oWer |s grarled due prolecl|or lror ary v|cl|r|zal|or. lr corp||arce
W|l| CVC |rslrucl|or, your corpary |as |rp|ererled a corp|a|rl |ard||rg
po||cy |r W||c| a|| corp|a|rls rece|ved lror var|ous sources car gel recorded
ard car oe exar|red oy v|g||arce. Furl|er, |r ||re W|l| CVC |rslrucl|or, your
corpary |as ac||eved very ||g| corp||arce |eve| W|l| regard lo e-payrerl
ard e-lerder.
Leverag|rg ol lec|ro|ogy lo er|arce lrarsparercy |as oeer a l|rusl area
ol acl|or |r W||c| v|g||arce |as p|ayed a cala|yl|c ro|e. T|e Weos|le ol l|e
corpary d|sp|ays doWr|oadao|e lerder docurerl, puo||cal|or ol |rlorral|or
ol Wor|s aWarded or ror|ral|or oas|s, puo||cal|or ol posl aWard |rlorral|or ol
corlracls.
13. $E6uP|TY HEA$uPE$
Your corpary corl|rues lo |rprove l|e secur|ly reasures al l|e rel|rery. T|e
lo||oW|rg sleps Were la|er lo |rprove l|e secur|ly dur|rg l|e year:
13.1 6|$F |nduct|on
V|r|slry ol lore Alla|rs (VlA) |as approved |rducl|or ol 200 ClSF persorre|
lor secur|ly ol l|e rel|rery. A 0u|c| Reacl|or Tear (0RT) lear cors|sl|rg ol 22
ClSF persorre| Was |rducled lo guard l|e rel|rery. Corslrucl|or ol ar exc|us|ve
ToWrs||p lor ClSF persorre| |s urderWay al a cosl ol ` 320 V||||or ard |s
sc|edu|ed lor corp|el|or |r Apr||, 2013. T|e secord p|ase ol ClSF |rducl|or
W|l| ar add|l|ora| 80 persorre| |s expecled lo la|e p|ace oy Sepleroer, 2012.
T|e rera|r|rg ClSF rarpoWer W||| oe |rducled aller corp|el|or ol ClSF
ToWrs||p.
13.2 66TV $urve|||ance
T|e rel|rery |s urder surve|||arce ol slale-ol-l|e arl CCTV |elWor| des|gred lo
cover a|| l|e access corlro| gales ard ol|er slraleg|c |ocal|ors.
13.3 Access 6ontro|
Access lo rel|rery area |s corlro||ed oy corpuler|sed Srarl Card & Varua|
Pass sysler lor corlracl |aoourers ard RFl0 srarl card lor erp|oyees. Access
corlro| lo l|e rel|rery area |s oe|rg |rproved oy corp|el|or ol l|e proposed
reW rel|rery gale ard secur|ly ou||d|rg. T|e secur|ly ou||d|rg W||| oe equ|pped
W|l| ru|l|-zore rela| deleclors ard X-ray oaggage scarrers. T||s gale W|||
a|so |ave lurrsl||es corlro||ed l|roug| o|o-relr|c card readers lor slr|cl access
corlro| lo rel|rery area. Arl|-ve||c|e |rlrus|or syslers |||e Tyre R|ppers are a|so
oe|rg p|arred lo oe |rsla||ed al rel|rery gales. Var|el|rg operal|or ard secur|ly
|rlraslruclure |s oe|rg ou||l |r l|e |oWer p|aleau ol l|e Rel|rery.
13.4 |ß Pecommendat|ons
A lear lror lrduslr|a| Secur|ly 6rarc| ol lrle|||gerce 6ureau (l6) v|s|ls
l|e rel|rery ol your corpary orce |r every lWo years lo |rspecl secur|ly
arrargererls, |derl|ly grey area ard recorrerd / suggesl |rprovererls.
A|| l|e recorrerdal|ors g|ver oy l|e l6 |r l|e year 2008 |ave oeer
corp||ed. T|e |asl l6 |rspecl|or Was carr|ed oul dur|rg 0eceroer, 2010 ard
oul ol 30 Recorrerdal|ors, rajor|ly |ave oeer corp||ed. T|e rera|r|rg
recorrerdal|ors are urder vary|rg slages ol corp||arce.
13.5 $ecur|ty Aud|t by 0N06
C||el ol Secur|ly, 0|| ard |alura| 0as Corporal|or (0|0C), carr|es oul
per|od|ca| rev|eW ol secur|ly ol l|e rel|rery oes|des per|od|ca| secur|ly aud|ls,
ard recorrerds lor |rprovererl W||c| are |rp|ererled.
o
Annua| Peport 2011-12
13.ê Hock 0r|||s
A ¯Prolecl|or Sc|ere¨ lo saleguard l|e rel|rery ol your corpary lror l|e
everls ol slr||e, |aW & order s|lual|or |ave oeer l|ra||zed W|l| l|e d|slr|cl
Corr|ss|orer ard Po||ce Corr|ss|orer, Varga|ore. Regu|ar secur|ly roc|
dr|||s ard d|slr|cl |eve| secur|ly exerc|ses are corducled jo|rl|y W|l| Slale Po||ce
ard Coasl 0uards. Your corpary |s acl|ve|y |rvo|ved |r l|e coasla| secur|ly
exerc|ses corducled al l|e coasla| area jo|rl|y W|l| Coasl 0uard.
14. 60PP0PATE $06|AL PE$P0N$|ß|L|TY [6$P) |N|T|AT|VE$
Your corpary's CSR |r|l|al|ve corl|rues lo oe |rl|uerced oy l|e reeds ard
corcerrs ol l|e corrur|ly res|d|rg |r l|e c|ose prox|r|ly ol l|e rel|rery.
T|eCSR|r|l|al|veolyourcorpary|roWras¯Sarra|s|ar¨|ave5areasW|l|
a v|s|or lo prolecl, preserve ard prorole peop|e, peace ard progress |r ard
arourd ol l|e rel|rery as urder.
x S|||s|ara Sarra|s|ar,
x Arogya Sarra|s|ar
x 6a|ujar Sarra|s|ar
x Pra|r|l|| Sarra|s|ar
x Sars|r|l|| Sarra|s|ar
w|l| l|ese oojecl|ves, your corpary |as |rp|ererled ruroer ol CSR
sc|eres dur|rg l|e year. T|e rajor sc|eres covered urder l|e CSR acl|v|l|es
dur|rg l|e year |rc|udes corslrucl|or ol corrur|ly |a||, Road asp|a|l|rg, r|d-
day rea| lo sc|oo| sluderls, corslrucl|or ol sc|oo| ou||d|rg, lo||el o|oc|s lor
sc|oo|s, sc|o|ars||p lor rer|lor|ous sluderls |rc|ud|rg SC/ST sluderls, add
or lac|||l|es lo SC/ST corrur|ly, se|l erp|oyrerl lra|r|rg lor Worer, lree
d|slr|oul|or ol seW|rg rac||res lo Worer , corslrucl|or ol ArgarWad|, arl|l|c|a|
||ro carp, rega red|ca| carp ard rurr|rg a lree pr|rary |ea|l| cerlre.
T|e ra|r l|rusl areas W|ere your corpary |as la|er var|ous |r|l|al|ves are |r
||re W|l| 0PE gu|de||res ard |as sperl ` 240 V||||or |r var|ous CSR sc|eres
dur|rg |asl 4 years.
15. 0|PE6T0P$
0ur|rg l|e year lo||oW|rg c|arges loo| p|ace |r 6oard ol 0|reclors ol your
corpary:
15.1 l, S|r| Sud||r Vasudeva loo| over as C|a|rrar ol your Corpary lror
03/10/2011.
15.2 S|r| V|s|ru AgraWa| |as assured l|e oll|ce ol 0|reclor (F|rarce) W|l| ellecl
lror 01/04/2011 pursuarl lo ||s appo|rlrerl as 0|reclor (F|rarce) ol VRPL oy
l|e V|r|slry ol Pelro|eur & |alura| 0as (VoP&|0), 0overrrerl ol lrd|a.
15.3 S|r| 0.K.Sarral |as res|gred or 1o/09/2011 lror l|e 6oard corsequerl upor
||s appo|rlrerl as Varag|rg 0|reclor ol 0|0C V|des| L|r|led (0VL).
15.4 T|e ror|ral|or ol S|r| A.K.lazar||a, ard S|r| K.S.Jaresl|r, Was W|l|draWr
oy 0|0C l|e parerl corpary W|l| ellecl lror 31/10/2011 lor opl|r|z|rg
l|e slrergl| ol l|e 6oard |r corp||arce W|l| C|ause 3.1.3 ol l|e rardalory
gu|de||res ol corporale goverrarce lor Cerlra| Puo||c Seclor Erlerpr|ses
(CPSE) |ssued oy 0eparlrerl ol Puo||c Erlerpr|ses (0PE), 0overrrerl
ol lrd|a. S|r| A.K.lazar||a ard S|r| K.S.Jaresl|r are corl|ru|rg as spec|a|
|rv|lees or l|e 6oard ol l|e corpary.
15.5 S|r| u.K. 6asu, Forrer Varag|rg 0|reclor superarrualed lror l|e serv|ces ol
VRPL or 30/0o/2012 ard res|gred lror l|e 6oard ol l|e corpary W|l| ellecl
lror 01/0//2012.
15.o S|r| P.P. upad|ya, |as assured l|e oll|ce ol Varag|rg 0|reclor W|l|
add|l|ora| c|arge ol 0|reclor (Tec|r|ca|) VRPL W.e.l. 01/0//2012, pursuarl
lo ||s appo|rlrerl as Varag|rg 0|reclor ard add|ll|ora| c|arge ol 0|reclor
(Tec|r|ca|) ol VRPL oy l|e V|r|slry ol Pelro|eur & |alura| 0as (VoP&|0),
0overrrerl ol lrd|a.
15./ T|e 6oard W|s|es lo p|ace or records |ls apprec|al|or lor l|e serv|ces rerdered
oy S|r| u.K. 6asu as Varag|rg 0|reclor ard S|r| 0.K.Sarral as 0|reclor dur|rg
l|e|r lerure or l|e 6oard ol l|e Corpary.
15.8 lr accordarce W|l| l|e prov|s|ors ol l|e Corpar|es Acl, 195o ard Arl|c|es
ol Assoc|al|or ol l|e Corpary, 0r. A.K. Ral| W||| rel|re oy rolal|or al l|e 24
l|
Arrua| 0erera| Veel|rg ol l|e Corpary. 0r. A.K. Ral|, oe|rg e||g|o|e, ollers
||rse|l lor re-appo|rlrerl as 0|reclor ol l|e corpary.
15.9 0r. 0.C|ardrase||arar Was ror|raled oy 0|0C pursuarl lo c|ause o.1 ol
l|e gu|de||res or corporale goverrarce lor CPSEs ard Was appo|rled as ar
add|l|ora| 0|reclor W|l| ellecl lror 10/01/2012 oy l|e 6oard ol 0|reclors W|o
vacales ||s oll|ce as Add|l|ora| 0|reclor ard oe|rg e||g|o|e ollers ||rse|l lor re-
appo|rlrerl as a 0|reclor |r l|e 24
l|
Arrua| 0erera| Veel|rg.
15.10 6r|el resure ol l|e 0|reclors see||rg appo|rlrerl / re-appo|rlrerl, logel|er
W|l| l|e ralure ol l|e|r experl|se |r spec|l|c lurcl|ora| areas, l|e rares
ol l|e corpar|es |r W||c| l|ey |o|d l|e d|reclors||p ard l|e reroers||p /
c|a|rrars||p ol corr|llees ol l|e 6oard, ard l|e|r s|are|o|d|rg |r l|e
Corpary are lurr|s|ed |r l|e Arrexure lo l|e A0V rol|ce.
15.11 Your Corpary |as corp||ed W|l| a|| l|e rardalory prov|s|ors ol c|ause 49
ol l|e L|sl|rg Agreererl re|al|rg lo l|e corporale goverrarce requ|rererls
ard rardalory gu|de||res or corporale goverrarce lor CPSEs |ssued oy
0eparlrerl ol Puo||c Erlerpr|se (0PE), 0overrrerl ol lrd|a excepl |av|rg
requ|s|le ruroer ol lrdeperderl 0|reclors or l|e 6oard ol l|e Corpary. T|ere
are l|ree lrdeperderl 0|reclors or l|e 6oard ol your corpary corsl|lul|rg 1/3
rd
ol |ls slrergl|. T|e corpary |s pursu|rg W|l| V|r|slry ol Pelro|eur ard |alura|
0as (VoP&|0), 0overrrerl ol lrd|a lor appo|rlrerl ol requ|s|le ruroer ol
lrdeperderl 0|reclors. T|e Arrua| Reporl corla|rs a separale secl|or or
corporale goverrarce, W||c| lorrs parl ol l||s reporl.
1ê. 0|PE6T0P$'PE$P0N$|ß|L|TY$TATEHENT
Pursuarl lo l|e requ|rererl urder secl|or 21/ (2AA) ol l|e Corpar|es Acl,
195o,W|l|respecllo0|reclors'respors|o|||lyslalererl,|l|s|ereoycorl|rred
l|al:
|) lr l|e preparal|or ol l|e Arrua| Accourls, l|e app||cao|e accourl|rg
slardards |ave oeer lo||oWed ard l|al l|ere are ro raler|a| deparlures
lror l|e sare.
||) T|e 0|reclors |ave se|ecled suc| accourl|rg po||c|es ard app||ed l|er
cors|slerl|y ard rade judgrerls ard esl|rales l|al are reasorao|e ard
pruderl, so as lo g|ve a lrue ard la|r v|eW ol l|e slale ol alla|rs ol l|e
corpary as al 31
sl
Varc|,2012 ard l|e Prol|l & Loss ol l|e corpary lor
l|e year erded or l|al dale.
|||) T|e 0|reclors |ave la|er proper ard sull|c|erl care lor l|e ra|rlerarce
ol adequale accourl|rg records |r accordarce W|l| l|e prov|s|ors ol l|e
Corpar|es Acl, 195o, lor saleguard|rg l|e assels ol l|e corpary ard lor
preverl|rg ard delecl|rg lraud ard ol|er |rregu|ar|l|es, ard
|v) T|e 0|reclors |ave prepared l|e Arrua| Accourls ol l|e Corpary or a
¯go|rgcorcerr¨oas|s.
1I. F|XE0 0EP0$|T
Your Corpary |as rol accepled ary l|xed depos|l dur|rg l|e year lror l|e
puo||c.
18. 60PP0PATE 00VEPNAN6E
18.1 Your Corpary |as corp||ed W|l| a|| l|e rardalory prov|s|ors ol C|ause 49
ol l|e L|sl|rg Agreererl re|al|rg lo l|e corporale goverrarce requ|rererls
ard rardalory gu|de||res or corporale goverrarce lor CPSEs |ssued oy 0PE,
0overrrerl ol lrd|a excepl |av|rg requ|s|le ruroer ol lrdeperderl 0|reclors
or l|e 6oard ol l|e Corpary. T|ere are l|ree lrdeperderl 0|reclors or
l|e 6oard ol your corpary corsl|lul|rg 1/3
rd
ol |ls slrergl|. T|e corpary |s
pursu|rg W|l| V|r|slry ol Pelro|eur ard |alura| 0as (VoP&|0), 0overrrerl
ol lrd|a lor appo|rlrerl ol requ|s|le ruroer ol lrdeperderl 0|reclors.
18.2 T|e Arrua| Reporl corla|rs a separale secl|or or Corporale 0overrarce,
W||c| lorrs parl ol l||s reporl.
18.3 Your Corpary |s ||sled W|l| l|e 6oroay Sloc| Exc|arge L|r|led ard |al|ora|
Sloc| Exc|arge L|r|led.
18.4 Pursuarl lo C|ause 49 ol l|e L|sl|rg Agreererl W|l| Sloc| Exc|arges, your
Corpary |as oola|red l|e Cerl|l|cale lror l|e Jo|rl Slalulory Aud|lors ol l|e
Corpary, lor Corp||arce ol Corporale 0overrarce W||c| |s arrexed lo ard
lorrs parl ol l||s reporl.
18.5 As a reasure ol good corporale goverrarce, your Corpary |as ergaged V/s
u||as Kurar Ve||rarogaru & Assoc|ales Pracl|c|rg Corpary Secrelar|es lor
corducl|rg Arrua| Secrelar|a| Corp||arce Aud|l lor l|e year 2011-2012. V/s.
u||as Kurar Ve||rarogaru & Assoc|ales, Pracl|c|rg Corpary Secrelar|es
|ave |ssued Arrua| Secrelar|a| Corp||arce Aud|l Reporl lor l|e year 2011-12
W||c| lorrs parl ol l||s reporl.
/
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
18.o C|a|rrar speec| al l|e 24
l|
Arrua| 0erera| Veel|rg (A0V) W||| oe d|slr|ouled
lo s|are|o|ders dur|rg l|e reel|rg ard W||| oe puo||s|ed |r l|e |ead|rg reWs
papers.
18./ Your Corpary |as despalc|ed a copy ol Arrua| Reporl cors|sl|rg ol 0|reclors
Reporl, Aud|lors Reporl, 6a|arce S|eel ard Prol|l & Loss Slalererl ard ol|er
docurerls as requ|red lo oe serl urder l|e prov|s|ors ol Corpar|es Acl 195o
lo a||, |ls reroers as or l|e records dale |.e. 13.0/.2012 pursuarl lo Secl|or
219 ard l|e Corpar|es Acl, 195o.
19. HANA0EHENT 0|$6u$$|0N AN0 ANALY$|$ PEP0PT
lr lerrs ol C|ause 49 (lV) (F) ol l|e L|sl|rg Agreererl W|l| l|e Sloc|
Exc|arges, l|e Varagererl 0|scuss|or ard Ara|ys|s Reporl |ave oeer
allac|ed ard lorrs parl ol l||s reporl.
20. Au0|T0P$
20.1 V/s. Va|araj |. R. Sures| & Co., C|erra| ard V/s. 0opa|a|yer ard
Suorarar|ar, Co|roalore |ave oeer appo|rled as jo|rl Slalulory Aud|lors ol
l|e Corpary lor l|e F|rarc|a| Year 2011-12 oy Corplro||er & Aud|lor 0erera|
ol lrd|a (C&A0).
20.2 T|e reporl ol l|e C&A0 al Arrexure lll lorrs parl ol l||s Reporl.
20.3 Parl|cu|ars ol l|e Cosl Aud|lor lor l|e l|rarc|a| year 2011-12
(a) V/s. Vus|o ard Assoc|ales, Cosl Accourlarls |as oeer appo|rled as Cosl
Aud|lor lor l|e year 2011-12.
(o) Cosl Aud|l reporl lor l|e year 2011-12 W||| oe l||ed oelore l|e due dale |.e.
2//09/2011.
ANNEXuPE-|T0ThE0|PE6T0P'$PEP0PT
A. 60N$EPVAT|0N 0F ENEP0Y
Your corpary corl|rued |ls erp|as|s or erergy corserval|or l|roug|
operal|ora| opl|r|zal|or, corl|ruous ror|lor|rg ard |rp|ererlal|or ol severa|
erergy corserval|or sc|eres
a. Vajor erergy corserval|or reasures la|er dur|rg l|e year
|) Add|l|ora| |rlercorrecl|or oelWeer P|ase-1 & P|ase-2 LoW Pressure
slear |eaders lor oeller slear d|slr|oul|or & r|r|r|z|rg |rlerr|llerl LP
slear verl|rg.
||) Cerar|c coal|rg carr|ed oul lor V6u-1, lCu-1 |ealers, W||c| resu|led |r
|esser Spec|l|c Fue| corsurpl|ors.
|||) C0u-1 ard V0u-1 |ealers prov|ded W|l| Relraclory Vodu|es lor oeller
|eal recovery.
|v) 0r||re c|er|ca| c|ear|rg ol C0u-1, V0u-1 ard V0u-2 lurraces Were
carr|ed oul. T||s resu|led |r oeller |eal recovery ard a|so |e|ped |r
|rcreas|rg l|roug|puls |r ool| ur|ls.
v) Adsoroerls ol PSA ur|l Were c|arged |r lydroger 0ereral|or ur|l-1
W||c| |rproved lydroger recovery |r l||s ur|l.
v|) Slear Cordersale Recovery sc|eres |rp|ererled |r C0u-1 ard C0u
?2ur|ls.
o. Add|l|ora| |rveslrerls ard proposa|s, |l ary, oe|rg |rp|ererled/ urder
cors|deral|or lor reducl|or ol corsurpl|or ol erergy / resources
|) Repa|r & Va|rlerarce ol slear ||res |rsu|al|or ard slear lraps.
||) Slear Cordersale Recovery |r V6u-l ard lCu-1 ur|ls.
|||) S|op recyc||rg prov|s|or W|l| coa|escer |r C0u-1 & V6u-2 ur|ls.
|v) Rep|ac|rg C0u2 A|r Pre-lealer lor oeller |eal recovery lror l|ue gas.
c. T|e reasures (a) aoove resu|led |r erergy corsurpl|or reducl|or oy approx
o200 VT/Year, equ|va|erl lo a rel sav|rg ol approx. ` 20o V||||or/year, W|l| ar
|rveslrerl ol approx|rale|y ` 133 V||||or.
21. A6KN0wLE00EHENT
21.1 Your 0|reclors s|rcere|y l|ar| l|e 0overrrerl ol lrd|a (0ol), V|r|slry ol
Pelro|eur ard |alura| 0as (VoP&|0), V|r|slry ol F|rarce (VoF), V|r|slry ol
Corporale Alla|rs (VCA), 0eparlrerl ol Puo||c Erlerpr|se (0PE), V|r|slry ol
Erv|rorrerl ard Foresl (VoEF), V|r|slry ol Exlerra| Alla|rs (VEA), V|r|slry
ol S||pp|rg (VoS), V|r|slry ol lore Alla|rs (VlA) ol|er V|r|slr|es ard
0eparlrerls ol l|e Cerlra| 0overrrerl ard l|e 0overrrerl ol Karrala|a, lor
l|e|r va|uao|e supporl, gu|darce ard corl|rued co-operal|or.
21.2 Your 0|reclors gralelu||y ac|roW|edge supporl ard d|recl|or prov|ded oy l|e
parerl corpary, 0|| ard |alura| 0as Corporal|or L|r|led (0|0C) ard l|e
supporl ol l|rduslar Pelro|eur Corporal|or L|r|led (lPCL), as Prorolers ol
l|e corpary.
21.3 Your 0|reclors W|s| lo l|ar| l|e s|are|o|ders lor l|e corl|rued corl|derce
reposed or l|e|r Corpary.
21.4 Your 0|reclors ac|roW|edge l|e corl|ru|rg co-operal|or ard supporl rece|ved
lror |eW Varga|ore Porl Trusl, F|rarc|a| lrsl|lul|ors, 6ar|s ard a|| ol|er
sla|e|o|ders suc| as supp||ers ol crude o||, verdors, corlraclors, lrarsporlers.
21.5 Your 0|reclors recogr|ze l|e palrorage exlerded oy l|e va|ued cuslorers lor
l|e producls ol l|e corpary ard pror|se lo prov|de l|er l|e oesl sal|slacl|or.
21.o Your 0|reclors W|s| lo p|ace or record l|e|r s|rcere apprec|al|or ol l|e
susla|red ard ded|caled ellorls pul |r oy a|| l|e erp|oyees co||ecl|ve|y ard
corcerled|yasaTear|roWras¯TearVRPL¨.
For ard or oe|a|l ol l|e 6oard
P|ace : |eW 0e||| [$udh|r Vasudeva)
0ale : 3
rd
Augusl, 2012 6ha|rman
d. Fue| & Loss |r l|e rel|rery lor l|e year 2011-12 Was o./5º, W|ereas |l Was
o.85º |r 2010-11.T|e rel|rery ac||eved l|e |oWesl ever erergy |rdex (V6Tu/
66L/|R0F) ol 5/.92 lor l|e year 2011-12, |rprov|rg upor l|e prev|ous oesl ol
58.13 lor l|e year 2010-11.
HPPL'sEnergyperformancedur|ngthe|astfouryears|sasfo||oWs
Year 6rude throughput,
HHTPA
[Net 6rude ßas|s)
6omp|ex|ty,
NP0F
[6hT method)
Energy |ndex,
HßN [HßTu|ßb||
NP0F)
2011-12 12.818 5.48/ 5/.92 ¯
2010-11 12.o39 5.585 58.13
2009-10 12.49/ 5.3/1 58.2/
2008-09 12.58o 5.2// 59.0/
¯Exc|ud|rg?P|ase-lll
F0PH?A
Tola| Erergy corsurpl|or ard Erergy corsurpl|or per ur|l ol producl|or:
A) PoWer and Fue| 6onsumpt|on 6urrent Year Prev|ous year
2011-12 2010-11
1 E|eclr|c|ly
a) Purc|ased
ur|l (V||||or Kwl) 20./5 19.52
Tola| Arourl (` V||||or) 118.99 114./o
Rale / ur|l (` /Kwl) ¯ 5./3 5.88
¯ lrc|udes derard c|arges ol `13.18 V||||or (` 18.58 V||||or lor 2010-11)
T|e ur|l cosl per Kwl exc|ud|rg 0erard c|arges |s ` 5.10 (` 4.90 lor 2010-
11)
8
Annua| Peport 2011-12
A) PoWer and Fue| 6onsumpt|on 6urrent Year Prev|ous year
2011-12 2010-11
o) 0Wr 0ereral|or
|) T|roug| 0|ese| 0ereralor
(al Sarpady)
ur|l (V||||or Kwl) 0.10 0.08
ur|l per |lr. ol 0|ese| (Kwl/|lr.) 2.99 3.2/
Cosl / ur|l (` /Kwl) 1o.02 10./1
||) T|roug| Slear luro|re gereralor
ur|l (V||||or Kwl) o12.01 o13.89
ur|l per ||ler ol Fue| 0|| (Kwl/|lr) ¯ 1.99 1.99
Cosl / ur|l (` /Kwl) ¯ 1o.18 11.8
¯ lrc|udes co gereraled Slear cosl
2 Fue| 0||
0uarl|ly(VT)(0||÷0as) 8,21,224 8,23,185
Tola| Arourl (` lr V||||or) 2/,o49.3/ 20,22o.o/
Average Rale (` /VT) 33,oo8.49 24,5/1.24
3 0l|ers / lrlerra| 0ereral|or
0|ese| (al Sarapady)
0uarl|ly (KL) 33.09 22.99
Tola| Cosl (` V||||or) 1.59 0.8
Rale (` /KL) 4/,911 34,990
4 Corsurpl|or per ur|l producl|or
Tola| crude processed (TPA) 1,28,1/,590 1,2o,38,942
Tola| Fue| Corsured (TPA)
(|rc|udes lue| ard |oss)
8,o5,043 8,oo,08/
Tola| E|eclr|c|ly (V||||or Kwl)
(aller deducl|rg exlerra| supp|y)
o32./o o2/./
Fue| Corsurpl|or, VT/ VT ol
Crude processed (º)
o./5 o.85
E|eclr|c|ly Corsurpl|or, Kwl /
VT ol Crude processed
49.3/ 49.oo
F0PH - ß
A) Pesearch and 0eve|opment [P&0)
1. $pec|f|c Areas |n Wh|ch P&0 carr|ed out by the company 2011-2012:
x 6rude Assay
Crude Assay Was carr|ed oul us|rg T6P apparalus:
Azar|
Aserg
Arlor
Agoar|
x Exper|ment on Po|ymer Hod|f|ed ß|tumen:
Exper|rerls Were carr|ed oul lo sludy l|e slao|||ly ol po|yrer rod|l|ed
6|lurer W|l| var|ous po|yrers ard deve|oped a lorru|al|or lor Slyrere-
6ulad|ere po|yrer rod|l|ed 6|lurer.
x Exper|ments on method deve|opment us|ng |on chromatography
Exper|rerls Were carr|ed oul or sperl causl|c ard a rel|od deve|oped
lor l|e delerr|ral|or ol su|p|ale ard l||osu|p|ale corlerl oy us|rg lor
c|roralograp|y.
x Add|t|ves Eva|uat|on
Add|l|ves Were eva|ualed lor |rprov|rg l|e 0|ese| Luor|c|ly ard l
2
S
Scaverg|rg |r exporl grade lue| o||.
x 0round Water ana|ys|s
Exper|rerls Were carr|ed oul lo assess l|e lrace rela| |eve|s |r grourd
Waler sarp|es co||ecled lror oore-We||s |r ard arourd l|e rel|rery.
2. ßenef|ts der|ved as a resu|t of the above P&0
x Assay ol var|ous crude |e|ped operal|or lo opl|r|ze ur|l-operal|rg
cord|l|ors lo rax|r|ze producl y|e|d ard producl qua||ly.
x Exper|rerls or po|yrer rod|l|ed o|lurer |as |e|ped lo ra|e va|ue
added producls lorr 6|lurer.
x Add|l|ve eva|ua |or |as |e|ped operal|or ur|ls lo opl|r|ze l|e dosage
|eve|s
x 0rourd Waler lrace rela| ara|ys|s |as |e|ped lo deve|op a oase ||re dala
or lrace rela|s |r rel|rery area.
3. Future p|an of Act|on
x To deve|op a lorru|al|or lor o|lurer eru|s|or.
x Tosludycorros|orardell|c|ercyolcorros|or|r||o|lorus|rgPolerl|oslal?
0a|varoslal lrslrurerl.
x Sludy or FCC cala|ysl.
4. Expend|ture on P&0
x Cap|la| : ` 11.25 V||||or
x Recurr|rg : ` 2.91 V||||ors
x Tola| : ` 14.1o V||||ors
6) Techno|ogy Absorpt|on, Adaptat|on & |nnovat|on
|) Ellorls, |r or|el, rade loWards lec|ro|ogy aosorpl|or, adaplal|or ard
|rroval|or.
a) Tec|ro|og|es lor process ur|ls ol P|ase-1 & 2 |ave oeer lu||y
aosoroed.
o) C0u1 ur|l |as oeer revarped W|l| pre-l|as| co|urr lo er|arce ur|l
capac|ly lror 3.o9 lo 4.8 VVTPA W|l|oul c|arg|rg l|e lurrace duly.
T|e revarped ur|l Was corr|ss|ored |r 0clooer 2011.
c) lCu1 ur|l |as oeer revarped lor erao||rg orce-l|roug| rode
operal|or lo leed upcor|rg PFCC ur|l |r P|ase-lll. T|e revarped
ur|l Was re-corr|ss|ored |r 0clooer 2011.
d) 0as 0|| lydro 0e-su|p|ur|sal|or (00l0S) ur|l capac|ly revarp
corp|eled dur|rg Apr||, 2010 |as |rproved l|e Rel|rery capao|||ly ol
produc|rg Euro-lll & Euro-lV grade 0|ese|.
||) 6erel|ls der|ved as a resu|l ol l|e aoove ellorls, e.g., producl |rprovererl,
cosl reducl|or, producl deve|oprerl, |rporl suosl|lul|or, elc.
Rel|rery l|roug|pul susla|red al 12.818 VVTPA W|||e reel|rg c|ear lue|
spec|l|cal|ors, W||c| requ|red ||g|er corp|ex|ly operal|ors.
00l0S ur|l capac|ly revarp |as |rproved l|e Rel|rery capao|||ly ol
produc|rgEuro?lll&Euro-lVgrade0|ese|.
|||) lr case ol |rporled lec|ro|ogy (|rporled dur|rg |asl 5 years rec|ored
lror l|e oeg|rr|rg ol l|e l|rarc|a| year), lo||oW|rg |rlorral|or |s lurr|s|ed.
a) Tec|ro|ogy |rporled
00l0S ur|l capac|ly revarp, lCu-1 revarp lo orce-l|roug| rode
o) Year ol |rporl
2008-09, 2010-11
c) las lec|ro|ogy oeer lu||y aosoroed?
Yes.
d) ll rol lu||y aosoroed, areas W|ere l||s |as rol la|er p|ace, reasors
l|erelore ard lulure p|ars ol acl|or.
|ol app||cao|e.
6) F0PE|0N EX6hAN0E EAPN|N0$ AN0 0uT00
(` lr V||||ors)
F|nanc|a|
Year
2011- 2012
F|nanc|a|
Year
2010- 2011
Fore|grExc|argeEarr|rgs?
a) F06 va|ue ol exporls 234,183.24 14o,024./1
o) 0epulal|or ol spec|a||sl - o.8/
Fore|gr Exc|arge 0ulgo 4/8,058.81 30/,3o2.34
9
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
HANA0EHENT 0|$6u$$|0N AN0 ANALY$|$ PEP0PT ANNEXuPE - ||
1. Economy 0verv|eW
Accord|rg lo l|e lrlerral|ora| Vorelary Furd (lVF), l|e g|ooa| ecorory ray
corl|rue lo rera|r or l|e |oWer s|de W|l| l|e expecled groWl| lo l|e lure ol
3.5º dur|rg 2012.
0|ooa| o|| derard W||| groW oy |ess l|ar 1 º |r 2012 as per lrlerral|ora|
Erergy Agercy (lEA). ll |s expecled l|al g|ooa| erergy corsurpl|or groWl|
W||| rera|r approx|rale|y 1.oº per arrur |r l|e rear lulure due lo s|oW
groWl| ol l|e g|ooa| ecorory.
T|e groWl| corslra|rls |r l|e Wa|e ol s|oW pace ol l|sca| corso||dal|or,
Worser|rg exlerra| seclor s|lual|or, |rl|al|orary pressures ard lrererdous
racroecoror|c lurdarerla| & slruclura| pressures |as rade lrd|a's
ecoror|c groWl| |oWer l|ar projecled groWl|. T|e 0ross 0oresl|c Producl
(00P) groWl| |s projecled al o.9 º |r 2012 |oWer l|ar as aga|rsl l|e /.1 º |r
2011.
2. |ndustry 0verv|eW
0|ooa| urcerla|rl|es coup|ed W|l| la|||rg Rupee va|ue aga|rsl uS0 ard l|e
vo|al||e crude o|| pr|ces pose urprecederled c|a||erges lo l|e lrd|ar rel|r|rg
|rduslry. T|e erergerce ol reW ep|cerlers ol ecoror|c groWl|, slr|cler
erv|rorrerla| rorrs ard ava||ao|||ly ol |rproved lue| lec|ro|og|es, |ave
corpe||ed l|e lrd|ar rel|r|rg |rduslry lo evo|ve a |org lerr susla|rao|e
slralegy.
T|e s|gr|l|carl add|l|ora| rel|r|rg capac|ly |r lrd|a, C||ra ard l|e V|dd|e Easl
|as resu|led |r |rcreased derard lor |eav|er crude o|| ard |rcreased producl
ava||ao|||ly.
lrcreas|rg ava||ao|||ly ol ralura| gas |as resu|led |r rap|l|a/lue| o|| oe|rg
rep|aced oy ralura| gas lor pelroc|er|ca|, lerl|||zer leedsloc| ard lor |eal|rg.
Suos|d|zed d|ese| ava||ao|||ly |r l|e courlry |as |rcreased |ls corsurpl|or
corpared lo rolor sp|r|l. T|ese c|arges |r corsurpl|or pallerr ol l|e
pelro|eur producls s||lls derard lror ||g|l d|sl|||ales lo r|dd|e d|sl|||ales.
Ar|d l|ese s||ll|rg lrerds, lrd|ar Rel|rers are expecled lo oe oerel|led |r l|e
|org rur ard are oeller pos|l|ored lo adapl lo l|e c|arg|rg lrerds |r producl
usage due lo prox|r|ly lo ||g| groWl| rar|el, re|al|ve|y corp|ex p|arls ard
|rcreas|rg verl|ca| |rlegral|or.
Your corpary |as ac||eved ||g|esl ever rel|rery l|rupul ol 12.82 VVT
dur|rg l|e year 2011-12 corpared lo 12.o4 VVT dur|rg l|e prev|ous year
ard |||e|y lo |rcrease |ls l|rupul |r v|eW ol er|arced capac|ly ol 15 VVTPA.
Product|on by your company dur|ng the year 2011-12.
PP00u6T un|ts |n HT
LP0 289083
H $ 1010525
H|XE0 XYLENE 155o25
NAPThA 1142/o9
$ K 0 3234/0
h $ 0 - PEF|NEPY 518/140
A T F 1195/38
V00 8/249
F 0 2192380
L $ h $ 1282o
A$PhALT 24o1o5
6PHß 43o91
$uLPhuP o588o
T0TAL 1195254I
lrd|a |s a rel exporler ol pelro|eur producls. lrd|ar rel|rers |ave oeer
verlur|rg |rlo cap|la| |rveslrerl |r doWrslrear lo corverl |egal|ve/|oW
rarg|r producls |||e rap|l|a, lo produce ||g|er va|ue added producls.
|nd|a'sconsumpt|on&product|onpatternofpetro|eumproductsdur|ng
2011-12.
PP00u6T 6onsumpt|on[000'HT) Product|on[000'HT)
LP0 153o/ 9554
H$ 14993 2/20/
Naphtha 11188 18/0/
ATF 553o 100o1
$K0 8229 8019
h$0 o4/53 82929
T0TAL 14I991 15ê4II
lrlerral|ora| crude o|| pr|ces |as oeer or a ro||er-coasler r|de over l|e pasl
lWo year oW|rg lo geo-po||l|ca| deve|oprerls suc| as l|e c|v|| urresl |r L|oya
ard dead|oc| over lrar's ruc|ear p|ars. T|e pr|ce ol o||, W||c| averaged
arourd $80 |r 2010, c||roed lo $110 per oarre| |r 2011 ard lurl|er lo $125 |r
Varc| 2012. loWever, |l le|| s|arp|y |r Apr|| ard Vay, l||s year ard reac|ed
|eve|s oe|oW $ 100 per oarre| |r l|e l|rsl lWo Wee|s ol Jure, 2012.
T|e crude o|| |rporl over l|e year |as oeer groW|rg due lo |rcreased rel|r|rg
capac|l|es ard |s expecled lo groW lurl|er |r lulure as l|ere |s slagral|or |r
l|e doresl|c producl|or ard reW l|rd|rgs.
10
Annua| Peport 2011-12
6rude|mportsby|nd|a:[000'HT):
3. 0pportun|t|es & Threat
Erergy |s esserl|a| lor ecoror|c groWl| ard |r aoserce ol v|ao|e a|lerral|ves;
corsurpl|or/ derard lor pelro|eur producls |s expecled lo r|se. 0roWl| |r
rel|rery capac|ly add|l|or |s expecled lo oulpace groWl| |r derard ard W|||
|eep a c|ec| or operal|rg vo|ures. 0erard |r Europe ard uS |s expecled
lo s|r|r| or al oesl slay urc|arged. Europear rel|rers are a|ready lac|rg l|e
orurl ol ecoror|c s|oWdoWr ard ||g| o|| pr|ces. T|e year 2011-12 W|lressed
severa| rel|rery c|osures |r Europe ard uS. T|ese c|osures W||| |rcrease l|e
ourder or rel|rers al As|a ard V|dd|e Easl.
Ererg|rg ecoror|es, espec|a||y |r As|a, ray lee| pressure lror l|e s|ugg|s|
Europear ecorory, ard are |||e|y lo see sore s|oWdoWr |r derard groWl|.
Al a l|re W|er |rl|al|orary pressure |as roderaled, C||ra ard lrd|a cou|d
ease rorelary po||c|es lo ooosl ecoror|c groWl| lo ra|rla|r a slrorg oul|oo|
lor Pelro|eur producls groWl| |r l|e reg|or. V|dd|e d|sl|||ale seclor W|||
rera|r l|e dr|ver lor As|ar rel|r|rg rarg|rs; Suos|dy or d|ese| |r ererg|rg
ecoror|es |r As|a W||| s||e|d l|e rela|| corsurers lror ||g| ard vo|al||e o||
pr|ces, supporl|rg slrorg derard groWl|. Recorslrucl|or Wor| |r Japar |s
a|so|||e|yloprov|delurl|erooosl|rderard.As|a'slue|o||rar|el|aseased
due lo ar |rcrease |r l|e arr|va| ol rore our|er- grade lue| supp||es lror l|e
V|dd|e Easl. 0vera||, l|e oul|oo| lor As|ar rel|r|rg |rduslr|es corl|rues lo
rera|r pos|l|ve.
lr lrd|a, rel|rery ous|ress |s oas|ca||y uS 0o||ar (uS0) dor|raled. T|e pr|ces
lor ool| l|e crude o|| ard producls are oased or |rlerral|ora| quole s|rce
ool| l|ese are do||ar deror|raled, exc|arge l|uclual|or |r Rupee 0o||ar rale
are auloral|ca||y laclored ard prov|des a ralura| |edge aga|rsl exc|arge
rale vo|al|||ly |r rorra| course. loWever, sudder ard loo ruc| l|uclual|or
causes |rpacl.
ll Was a year |r W||c| C0u/V0u ol P|ase-lll projecl Was successlu||y
corr|ss|ored ard ol|er ur|ls are oe|rg progress|ve|y corr|ss|ored. C0u-l
deooll|erec||rg ard revarp ol ool| lydro Crac|er ur|ls (lCu) |as a|so
oeer corp|eled. Your corpary |s sell|rg up a Po|ypropy|ere p|arl ard a
SPVlac|||lylosusla|ryourCorpary'scorpel|l|veadvarlage.
4. P|sks & 6oncerns
Your Corpary operales |r a ous|ress erv|rorrerl l|al |s c|aracler|zed
oy |rcreas|rg g|ooa||zal|or, |rlers|ly|rg corpel|l|or ard rore corp|ex
lec|ro|og|es. T|ese c|aracler|sl|cs |ave l|e|r oWr sels ol r|s|s ard corcerrs
W||c| your corpary laclors |r |ls ous|ress. Rel|rer|es are suscepl|o|e lo l|e
r|s| ol l|re|y supp|y ol crude o|| lor srool| producl|or lo avo|d s|orlage
ol crude W||c| ray resu|l |rlo reducl|or |r l|rupul. Crude Supp|y r|s| ray
oe caused due lo ary slressed geo po||l|ca| s|lual|or W|l| l|e supp||er
ral|or, ror-ava||ao|||ly ol su|lao|e vesse| ard reducl|or ol crude supp|y oy
0rgar|zal|or ol l|e Pelro|eur Exporl|rg Courlr|es (0PEC).
Your Corpary |as oeer corl|ruous|y d|vers|ly|rg l|e sources ol procurererl
ol crude oy add|rg rore courlr|es ard crude. Your corpary |r|l|a||y |ad or|y
lerr corlracls W|l| lrar ard al preserl crude are oe|rg procured lror SAu0l
ARAVC0 (|al|ora| 0|| Corpary ol K|rgdor ol Saud| Arao|a), A0|0C
(|al|ora| 0|| Corpary ol 0overrrerl ol Aou 0|ao|), |l0C (|al|ora| 0||
Corpary ol lrar) ard KuWa|l Pelro|eur Corporal|or (KPC).6oroay l|g|,
|||e o|erd ard Sa||a||r Crude lror 0|0C 0roup Corpar|es are a|so
procuredorarr's|ergl|oas|s.0ur|rgl|eyear2011-12,yourcorpary|as
processed l|ree reW crudes |.e., Agoar|, C0C0, Ve|||la| ard corl|rues lo
expard |ls crude oas|el.
T|e lrd|ar Rupee (l|R) deprec|aled oy rear|y 20º aga|rsl l|e uS 0o||ar
(uS0) dur|rg l|e year 2011-12. Your Corpary |s a|so exposed lo l|e r|s|
ol vo|al|||ly |r |rlerral|ora| pr|ces ol crude o|| ard pelro|eur producls a|org
W|l| lore|gr exc|arge vo|al|||ly W||c| cou|d |rpacl l|e |rporl ol crude or
lerr oas|s as aga|rsl ouy|rg crude |r spol rar|el or rorl| lo rorl| oas|s,
ersur|rg l|rr supp|y ol crude lo |ls rel|rery. Your corpary |rporls arourd
80º ol |ls requ|rererl ol crude o|| ard |s preserl|y exporl|rg approx|rale|y
4/º ol l|e lola| producl|or vo|ure W|ere sa|e proceeds are rea||zed |r uS0
ard ever |r case ol doresl|c sa|es W|ere l|e sa|e pr|ces are oased or
lrade/ |rporl par|ly pr|ces der|ved lror producl pr|ces |r lrlerral|ora| rar|el
corverled lror uS0, l|ere |s a ralura| |edge lo a |arge exlerl. loWever
sudder l|uclual|ors |r crude ard producl pr|ces W||| |ave s|gr|l|carl ellecl or
l|e rarg|rs ol l|e corpary.
Pr|ce ol rajor producls (Pelro| ard 0|ese|) |r 0oresl|c Sa|es |s oased or
TradePar|lyPr|ces(80ºlrporlPar|lyPr|ce÷20ºExporlPar|lypr|rc|p|es),
W||c| |s l|xed oased or l|e producl pr|ces ol preced|rg lorlr|g|l, lerce ary
l|uclual|or |r l|e |rlerral|ora| crude pr|ces gels caplured |r l|e sa|e pr|ce lo a
|arge exlerl so |org as l|e pr|ces ol producls lo||oW l|e sare pallerr as l|al
ol l|uclual|or |r crude o|| pr|ces.
Your corpary exporls |ls rajor producls |||e lS0, ATF ard VX urder
lerder or average ol l|e rorl| pr|ces, W||c| reduces l|e r|s| ol |rlra rorl|
pr|ce l|uclual|ors. Exporls ol F0 & |ap|l|a are ever|y spread over l|e year
l|ereoy averag|rg l|e ga|rs/|osses ol 5 days pr|c|rg lo Vorl||y Average
Pr|c|rg lor la||rg care ol l|uclual|ors ol l|e pr|ces dur|rg l|e rorl|.
|or ava||ao|||ly ol su|lao|e vesse| lor corl|rred |ay days resu|l|rg |r s|orlage
ol crude ard reducl|or |r l|rupul/ ror ||ll|rg c|a|r lror supp||ers, parl|cu|ar|y
|r case ol lrar|ar crude purc|ases, |oWever opl|ors are ava||ao|e lo ||ll
lrar|ar crude o|| or ClF oas|s |r l|e lrar|ar vesse|s W||c| ray r|l|gale l|e
r|s| ol crude supp|y. C|arler|rg ol vesse|s ol your corpary |s oe|rg dore oy
TRA|SClART (V|r|slry ol S||pp|rg, 0overrrerl ol lrd|a). Your corpary
|s corl|ruous|y ror|lor|rg ard coord|ral|rg W|l| TRA|SClART ard s||p-
oWrers lo |derl|ly ard l|ra||ze su|lao|e vesse|s We|| |r advarce ard |ave oeer
ao|e lo rarage ||ll|rg ol a|| corlracled/ spol crude parce|s.
Your corpary |s lac|rg d|ll|cu|ly |r rer|ll|rg l|e payrerls lor l|e |rporl ol
crude o|| lror lrar due lo Europear ur|or (Eu) sarcl|ors ard d|srarl||rg ol
As|ar C|ear|rg ur|or (ACu) oy Reserve 6ar| ol lrd|a (R6l) W|l| ellecl lror
23rd 0eceroer 2010.lrd|a |as oeer g|ver Wa|ver oy uS lror l|e sarcl|ors
aga|rsl lrar or par W|l| courlr|es |||e Japar, Tur|ey ard Soul| Korea W|o
are a|| |rporlers ol lrar|ar 0|| lo overcore l||s cr|s|s. 0ue lo l|e |rperd|rg
Eu sarcl|ors l|real or lrar, |l cou|d oe poss|o|e l|al vesse|s Wou|d rol oe
ava||ao|e W|l| 3rd parly |rsurarce cover lror P&l c|uos, rosl|y oased oul ol
Europe W|er ca|||rg lrar|ar porls. T||s ray allecl ava||ao|||ly ol lorrage lo
|oad cargoes lror lrar ool| lror l|e C0A |o|ders ard spol rar|el.
lrsurarce cover lor l|e lrar|ar crude up-||llrerl |s preserl|y arrarged
l|roug| l|e |al|ora| lrar|ar 0|| Corpary (|l0C), lor W||c|, l|e payrerl
|s oe|rg rer|lled lo |l0C, |r l|e ex|sl|rg payrerl rel|odo|ogy lor crude
o|| purc|ases.Your corpary |s |r l|e process ol evo|v|rg a|lerral|ve
arrargererl lor sourc|rg crude W|l| l|e |e|p ol l|e ol|er |rduslry reroers
urder l|e gu|darce ol V|r|slry ol Pelro|eur ard |alura| 0as (VoP&|0), |r
case l|e uS ard Europear ur|or sarcl|ors are lu||y lurcl|ora| ard sourc|rg
ol lrar crude oecores d|ll|cu|l.
Your corpary |as perce|ved r|s| as regards lo supp|y ol ul|||l|es v|z. slear
ard poWer lror l|e Capl|ve PoWer P|arl (CPP) ol l|e P|ase-lll ur|l oe|rg
ou||l oy V/s 6lEL due lo corl|ruous de|ay. Your corpary cou|d rur parl ol
l|e ur|ls ol l|e P|ase-lll W|l| l|e exlerded slear ard poWer lac|||l|es lror
P|ase-l ard P|ase-ll lac|||l|es ol l|e rel|rery.
Pelro F|u|d|zed Cala|yl|c Crac||rg ur|l (PFCCu) ard 0e|ayed Co|er ur|l
(0Cu) W||c| are rarg|r dr|vers ol your corpary car oe corr|ss|ored or|y
orava||ao|||lyolslearardpoWerlror6lEL'sCapl|vePoWerP|arl(CPP)
ol l|e P|ase-lll.
Your corpary a|so perce|ved cerla|r r|s| as regards lo |rlraslruclure
deve|oped oy Varga|ore SEZ (VSEZ) L|r|led W||c| cou|d |rpacl l|e srool|
operal|or ol P|ase-lll lac|||l|es. T|e P|ase-lll projecl Was |rp|ererled oased
or l|e assurarce oy VSEZ L|r|led lor supp|y|rg raW Waler l|roug| p|pe||re,
|rlraslruclure lor ell|uerl d|sposa|, corr|dor lor rovererl ol lruc|s ard ol|er
ve||c|es, A|| l|ese lac|||l|es requ|red lo oe deve|oped oy VSEZ L|r|led lor
srool| lurcl|or|rg ol var|ous ur|ls ol P|ase-lll projecl. loWever, your
corpary |s expecl|rg de|ays lor l|ese upcor|rg lac|||l|es ard |rlraslruclure
oy VSEZ W||c| cou|d |rpacl l|e operal|or ol ur|l ol P|ase-lll.
Your corpary |s corcerred or l|re|y deve|oprerl ol |rlraslruclure lor
rar|el|rg ol var|ous reW producls |||e Pel co|e ard po|ypropy|ere. Your
corpary |s a|so corcerred or var|ous regal|ve laclors |||e s|orlage ol Waler,
11
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
60HHENT$ 0F ThE 60HPTP0LLEP AN0 Au0|T0P 0ENEPAL 0F |N0|A uN0EP $E6T|0N ê19[4) 0F ThE 60HPAN|E$ A6T, 195ê 0N ThE A660uNT$ 0F
HAN0AL0PE PEF|NEPY AN0 PETP06hEH|6AL$ L|H|TE0, HAN0AL0PE F0P ThE YEAP EN0E0 31 HAP6h, 2012.
T|e preparal|or ol l|rarc|a| slalererls ol Varga|ore Rel|rery ard Pelroc|er|ca|s L|r|led, Varga|ore lor l|e year erded 31 Varc|, 2012 |r accordarce W|l| l|e l|rarc|a|
reporl|rg lrareWor| prescr|oed urder l|e Corpar|es Acl, 195o |s l|e respors|o|||ly ol l|e raragererl ol l|e corpary. T|e slalulory aud|lors appo|rled oy l|e Corplro||er
ard Aud|lor 0erera| ol lrd|a urder Secl|or o19(2) ol l|e Corpar|es Acl, 195o |s respors|o|e lor express|rg op|r|or or l|ese l|rarc|a| slalererls urder Secl|or 22/ ol l|e
Corpar|es Acl, 195o oased or |rdeperderl aud|l |r accordarce W|l| l|e aud|l|rg ard assurarce slardards prescr|oed oy l|e|r proless|ora| oody, l|e lrsl|lule ol C|arlered
Accourlarls ol lrd|a. T||s |s slaled lo |ave oeer dore oy l|er v|de l|e|r Aud|l Reporl daled 23.5.2012.
l, or oe|a|l ol l|e Corplro||er ard Aud|lor 0erera| ol lrd|a, |ave corducled a supp|ererlary aud|l urder Secl|or o19(3)(o) ol l|e Corpar|es Acl, 195o ol l|e l|rarc|a|
slalererls ol Varga|ore Rel|rery ard Pelroc|er|ca|s L|r|led, Varga|ore lor l|e year erded 31 Varc|, 2012. T||s supp|ererlary aud|l |as oeer carr|ed oul |rdeperderl|y
W|l|oul access lo l|e Wor||rg papers ol l|e slalulory aud|lor ard |s ||r|led pr|rar||y lo |rqu|r|es ol l|e slalulory aud|lor ard corpary persorre| ard a se|ecl|ve exar|ral|or ol
sore ol l|e accourl|rg records. 0r l|e oas|s ol ry aud|l, rol||rg s|gr|l|carl |as core lo ry |roW|edge W||c| Wou|d g|ve r|se lo ary correrl upor or supp|ererl lo Slalulory
Aud|lor'sreporlurderSecl|oro19(4)oll|eCorpar|esAcl,195o.
[$. PAJAN|)
P|ace : C|erra| Pr|rc|pa| 0|reclor 0l Correrc|a| Aud|l
0ale : 10
l|
Ju|y, 2012 Ard Ex-0ll|c|o Veroer Aud|l 6oard, C|erra|
dep|eled reservo|rs due lo poor rorsoor ard ol|er ralura| ca|ar|l|es W||c|
cou|d |rpacl l|e operal|or ol l|e rel|rery.
loWever, your corpary |as la|er a corpre|ers|ve rega r|s| |rsurarce
cover lor |ls assel lo saleguard l|er lror l|ese urloreseer r|s|s as We|| as
|oss ol prol|l due lo ous|ress |rlerrupl|ors.
Your Corpary |as lorru|aled a We||-del|red po||cy lrareWor| |rc|ud|rg
|rp|ererlal|or procedure ard ror|lor|rg rec|ar|sr lor l|e r|s|
raragererl sysler |r p|ace. R|s| Varagers are eva|ual|rg l|e |derl|l|ed
r|s|s or quarler|y oas|s ard |derl|ly|rg reW r|s|s W|l| l|e r|l|gal|or reasures.
T|e r|s| erv|rorrerl ol your corpary |s oe|rg re-assessed oy lrdeperderl
R|s| Varagererl corsu|larcy ol lrlerral|ora| repule.
5. $trateg|c ßus|ness Pursu|ts & Future 0ut|ook
Your corpary |s |rp|ererl|rg P|ase-lll rel|rery expars|or ard up gradal|or
projecl ard |as ac||eved ar overa|| progress ol 95./º as ol 15/0//2012.
T|e rarep|ale capac|ly ol l|e rel|rery |as oeer er|arced lo 15 VVTPA or
29/03/2012 oy successlu| corr|ss|or|rg ol 3 VVTPA Crude ard Vaccur
0|sl|||al|or ur|l dur|rg l|e year 2011-2012.
T|e ol|er ur|ls ol P|ase-lll projecl v|z. lydroger 0ereral|or ur|l (l0u),
0|ese| lydro Trealer ur|l (0l0Tu), Su|p|ur Recovery ur|l (SRu), Capl|ve
PoWer P|arl (CPP), Pelro F|u|d|zed Cala|yl|c Crac||rg ur|l (PFCCu),
0e|ayed Co|er ur|l (0Cu), ard Co|er 0as 0|| lydro Trealer ur|l (ClTu)
are oe|rg progress|ve|y corr|ss|ored. Your corpary W||| oe oerel|led W|l|
l|e corr|ss|or|rg ol l|ese ur|ls oy produc|rg va|ue added producls |||e
Propy|erelrorl|e|oWva|ueo|ac|o||,produc|rgEuro?lll,lVardVgrade
ol l|g| Speed 0|ese| (lS0) ard d|sl|||ale y|e|d ol l|e rel|rery W||| go oeyord
80º .
Your Corpary |s sell|rg up a Po|ypropy|ere p|arl |rlegraled W|l| P|ase-
lll projecl lor ready ava||ao|||ly ol raW raler|a| lo doWrslrear process|rg
|rduslry ard |as ac||eved ar overa|| progress ol 82.2º as ol 15/0//2012.
Your corpary |s sell|rg up a Po|ypropy|ere (PP) p|arl W|l| l|e capac|ly ol
440 KTPA, |rlegraled W|l| P|ase- lll expars|or ol rel|rery corp|ex W|l| ar
|rveslrerl ol ` 18,03/.8 V||||or lor supp|y|rg lo doWrslrear process|rg
|rduslry. 0ela||ed ous|ress p|ar lor sa|e ol Po|ypropy|ere |r doresl|c rar|el
|s oe|rg l|ra||zed. Slorage lrlraslruclure lor Po|ypropy|ere |s oe|rg deve|oped
al lassar |r l|e Slale ol Karrala|a.
Keep|rg |r v|eW l|e urder recover|es |r rela|| rar|el|rg ol aulo-lue|s, your
corpary corl|rues lo adopl a ror aggress|ve approac| W|l| |ls r|r|scu|e
preserce |r l|e rela|| rar|el|rg.
Your corpary |s a|so sell|rg up a S|rg|e Po|rl Voor|rg (SPV) lac|||ly a|org
Coasla| 6oosler purp|rg slal|or W|l||r |eW Varga|ore Porl ||r|ls al a
|ocal|or ol 1o |||orelers |rs|de l|e sea, W||c| Wou|d rece|ve o|gger vesse|s
(VLCC) lor ava|||rg oerel|l ol lre|g|l or lrarsporlal|or ol crude o||. w|l| SPV,
your corpary car source opporlur|ly crudes lror wesl Alr|car ard Lal|r
Arer|car courlr|es. 0e-corgesl|or ol ex|sl|rg jell|es al |eW Varga|ore Porl
Trusl (|VPT) W||| oe ul|||zed lor |ard||rg rore pelro|eur producls. T|roug|
l|e SPV lac|||ly, crude W||| oe purped lo l|e lrd|ar Slraleg|c Pelro|eur
Reserve L|r|led (lSPRL) urdergrourd caverr lor slorage ol Crude o||, |s
|||e|y lo oe operal|ora| or|y oy 2013-14. Fu|| oerel|l ol SPV lac|||ly W||| oe
ava||ao|e or|y aller lSPRL |s operal|ora|.
Yourcorpary'srarg|rsareexpecledlo|rcreases|gr|l|carl|yW|l|operal|or
ol a|| l|e aoove lac|||l|es. 0overrrerl ol Karrala|a |as a|so g|ver allracl|ve
|rcerl|ve pac|age |||e erlry lax exerpl|or, sa|es lax exerpl|or; Wa|ver ol
VAT or P|ase-lll W||c| W||| |rcrease l|e prol|l rarg|rs.
0ur|rg 0|ooa| lrveslors Veel or /
l|
& 8
l|
Jure, 2012 al 6erga|uru, your
corpary |as s|gred a Verorardur ol urderslard|rg W|l| l|e 0overrrerl
ol Karrala|a lor sell|rg up a L|rear A||y| 6erzere P|arl, a raW raler|a| lo
rarulaclure 0elergerls ard lo expard |ls Rel|r|rg capac|ly lo 21 VVTPA
suojecl lo lec|ro- ecoror|c v|ao|||ly ard ava||ao|||ly ol requ|red |rlraslruclure
al Varga|ore W|l| ar approx|rale |rveslrerl ol ` 85,000 V||||or.
o. |nterna| 6ontro| $ystems
Your corpary rera|rs corr|lled lo ersure ar ellecl|ve |rlerra| corlro|
erv|rorrerl l|al prov|des assurarce or l|e ell|c|ercy ol operal|ors ard
secur|ly ol assels. lrlerra| aud|l deparlrerl lurcl|ors urder l|e superv|s|or
ol l|e Aud|l corr|llee c|a|red oy ar lrdeperderl 0|reclor. Your corpary
|as a We|| eslao||s|ed |rlerra| corlro| rev|eW rec|ar|sr W||c| assures
ellecl|ve |rlerra| corlro| erv|rorrerl lo l|e Aud|l corr|llee ard 6oard ol
0|reclors.
Aparl lror l|e aoove, l|e Corpary's V|g||arce 0eparlrerl |as oeer
carry|rg oul var|ous v|g||arce acl|v|l|es oy rears ol |rspecl|ors, dela||ed
exar|ral|ors, sludy ol rajor Wor| orders/ purc|ase orders, scrul|ry ol
deered s|rg|e lerders ard lerders or ror|ral|or oas|s
/. Performance
0ur|rg l|e l|rarc|a| year 2011-12 your Corpary |as ac||eved reW |e|g|ls
ol perlorrarce ool| or p|ys|ca| ard l|rarc|a| pararelers ard surpassed |ls
pasl perlorrarce oy sell|rg up a reW oerc| rar|.
Your corpary ac||eved ||g|esl ever rel|rery crude l|rupul al 12.82 VVT
aga|rsl 12.o4 VVT dur|rg l|e prev|ous year, Turrover al ` 5/2,0o8 V||||or
aga|rsl ` 43/,23o V||||or dur|rg l|e prev|ous year, Exporl Turrover al
` 234,183 V||||or aga|rsl ` 14o,042 V||||or dur|rg l|e prev|ous year ard
ac||eved |oWesl ever erergy corsurpl|or |rdex ol 5/.92 V6|.
8. human Pesources
0ur|rg l|e year 2011-12, your corpary corl|rued lo erjoy cord|a| ard
|arror|ous re|al|ors W|l| l|e co||ecl|ves ard as ev|derce lo l|e sare rol a
s|rg|e rar-|our Was |osl or accourl ol ary |rduslr|a| d|sluroarce.
T|e ruroer ol erp|oyees as or 31/03/2012 Was 1500 |rc|ud|rg 104 Worer
erp|oyees, 0ul ol l|ese erp|oyees 59/ are lror Varagererl cadre
W|ereas 903 are lror |or-Varagererl cadre. T|e ruroer ol Erp|oyees
oe|org|rg lo SC/ST calegor|es are 129 ard PC are 5.
9. 6aut|onary $tatement
Slalererls |r l|e Varagererl 0|scuss|or ard Ara|ys|s ard 0|reclors
Reporldescr|o|rgl|eCorpary'soojecl|ves,projecl|orsardesl|rales,are
lorWard-|oo||rg slalererls ard progress|ve W|l||r l|e rear|rg ol app||cao|e
|aWs ard regu|al|ors. Aclua| resu|ls ray vary lror l|ose expressed or
|rp||ed, deperd|rg upor ecoror|c cord|l|ors, 0overrrerl Po||c|es ard
ol|er |rc|derla| laclors. Readers are caul|ored rol lo p|ace urdue re||arce
or l|e lorWard |oo||rg slalererls.
ANNEXuPE - |||
12
Annua| Peport 2011-12
Au0|T0P$'PEP0PT
7R
7KH0HPEHUVRI0DQJDORUH5HILQHU\DQG3HWURFKHPLFDOV/LPLWHG
1. we |ave aud|led l|e allac|ed 6a|arce S|eel ol 0DQJDORUH 5HILQHU\ DQG
3HWURFKHPLFDOV /LPLWHG as al 31
sl
Varc|, 2012, l|e Slalererl ol Prol|l ard
Loss ard a|so l|e Cas| F|oW slalererl lor l|e year erded or l|al dale arrexed
l|erelo. T|ese l|rarc|a| slalererls are l|e respors|o|||ly ol l|e corpary's
raragererl. 0ur respors|o|||ly |s lo express ar op|r|or or l|ese l|rarc|a|
slalererls oased or our aud|l.
2. we corducled our aud|l |r accordarce W|l| l|e aud|l|rg slardards gerera||y
accepled |r lrd|a. T|ose Slardards requ|re l|al We p|ar ard perlorr l|e
aud|l lo oola|r reasorao|e assurarce W|el|er l|e l|rarc|a| slalererls are
lree ol raler|a| r|sslalererl. Ar aud|l |rc|udes exar|r|rg, or a lesl oas|s,
ev|derce supporl|rg l|e arourls ard d|sc|osures |r l|e l|rarc|a| slalererls.
Ar aud|l a|so |rc|udes assess|rg l|e accourl|rg pr|rc|p|es used ard s|gr|l|carl
esl|rales rade oy raragererl, as We|| as eva|ual|rg l|e overa|| l|rarc|a|
slalererl preserlal|or. we oe||eve l|al our aud|l prov|des a reasorao|e oas|s
lor our op|r|or.
3. As requ|red oy l|e Corpar|es (Aud|lor's Reporl) 0rder, 2003 |ssued oy
l|e 0overrrerl ol lrd|a |r lerrs ol suo-secl|or (4A) ol Secl|or 22/ ol l|e
Corpar|es Acl, 195o.
we erc|ose |r l|e Arrexure a slalererl or l|e rallers spec|l|ed |r paragrap|s
4 ard 5 ol l|e sa|d 0rder.
Furl|er lo our correrls |r l|e Arrexure relerred urder Paragrap| (3) aoove,
We reporl l|al:
|. we |ave oola|red a|| l|e |rlorral|or ard exp|aral|ors, W||c| lo l|e oesl
ol our |roW|edge ard oe||el Were recessary lor l|e purposes ol our aud|l;
||. lr our op|r|or. Proper ooo|s ol accourl as requ|red oy |aW |ave oeer |epl
oy l|e corpary so lar as appears lror our exar|ral|or ol l|ose ooo|s.
|||. T|e 6a|arce S|eel, Slalererl ol Prol|l ard Loss ard Cas| F|oW slalererl
dea|l W|l| oy l||s reporl are |r agreererl W|l| l|e ooo|s ol accourl.
|v. lr our op|r|or, l|e 6a|arce S|eel, Slalererl ol Prol|l ard Loss ard
Cas| F|oW slalererl dea|l W|l| oy l||s reporl corp|y W|l| l|e accourl|rg
slardards relerred lo |r suo-secl|or (3C) ol secl|or 211 ol l|e Corpar|es
Acl, 195o ard W|l|oul qua||ly|rg our op|r|or relererce |s draWr lo role ro
30.05 or AS-1/ Segrerl Reporl|rg.
v. 6e|rg a 0overrrerl Corpary Prov|s|or ol C|ause (g) ol Suo-secl|or
(1) ol Secl|or 2/4 ol l|e Corpar|es Acl, 195o, |s rol app||cao|e as per
rol|l|cal|or ro. 0SR 829(E) daled 0clooer 21, 2003, |ssued oy l|e V|r|slry
ol Corporale Alla|rs.
v|. lr our op|r|or, ard lo l|e oesl ol our |rlorral|or ard accord|rg lo l|e
exp|aral|ors g|ver lo us, l|e sa|d accourls read logel|er W|l| l|e
s|gr|l|carl accourl|rg po||c|es ard roles l|ereor g|ve l|e |rlorral|or
requ|red oy l|e Corpar|es Acl, 195o |r l|e rarrer so requ|red ard g|ve
a lrue ard la|r v|eW |r corlorr|ly W|l| l|e accourl|rg pr|rc|p|es gerera||y
accepled |r lrd|a:
a. |r l|e case ol l|e 6a|arce S|eel, ol l|e slale ol alla|rs ol l|e corpary
as al 31sl Varc|, 2012;
o. |r l|e case ol l|e Slalererl ol Prol|l ard Loss, ol l|e prol|l lor l|e
year erded or l|al dale; ard
c. |r l|e case ol l|e Cas| F|oW slalererl, ol l|e cas| l|oWs lor l|e year
erded or l|al dale.
For HAhAPAJ N.P.$uPE$h & 60 For 00PALA|YEP AN0 $ußPAHAN|AN
C|arlered Accourlarls C|arlered Accourlarls
F|rr Reg|slral|or |o 001931S F|rr Reg|slral|or |o 0009o0S
6.A. N.P.$uPE$h 6.A. $.$uN0AP
Parlrer Parlrer
Veroers||p |o. 021oo1 Veroers||p |o.202/25
P|ace: |eW 0e|||
0ale: 23
rd
Vay, 2012.
Peferred tc in paragraph J cf cur repcrt cf even date
(|) a) T|e Corpary |as ra|rla|red proper records, s|oW|rg lu|| parl|cu|ars,
|rc|ud|rg quarl|lal|ve dela||s ard s|lual|or ol l|xed assels.
o) A|| l|e assels |ave rol oeer p|ys|ca||y ver|l|ed oy l|e raragererl
dur|rg l|e year oul l|ere |s a regu|ar prograrre ol ver|l|cal|or, W||c|,
|r our op|r|or, |s reasorao|e |av|rg regard lo l|e s|ze ol l|e corpary
ard l|e ralure ol |ls assels. |o raler|a| d|screparc|es |ave oeer
rol|ced or suc| ver|l|cal|or.
c) lr our op|r|or ard accord|rg lo l|e exp|aral|ors g|ver lo us, l|e
Corpary |as rol d|sposed oll suoslarl|a| parl ol l|xed assels, dur|rg
l|e year ard l|e 0o|rg Corcerr Corcepl ol l|e Corpary |as rol
oeer allecled.
(||) a) we are |rlorred l|al l|e |rverlor|es ol slores ard spares are p|ys|ca||y
ver|l|ed, dur|rg l|e year, oy l|e raragererl or a corl|ru|rg oas|s as
per prograrre ol perpelua| |rverlory. lrverlor|es ol ol|er |lers |ave
oeer p|ys|ca||y ver|l|ed al l|e year erd, l|e lrequercy ol W||c|, |r our
op|r|or |s reasorao|e, |av|rg regard lo l|e s|ze ol l|e corpary ard
ralure ol |ls ous|ress.
o) lr our op|r|or ard accord|rg lo l|e exp|aral|or g|ver lo us, l|e
procedures ol p|ys|ca| ver|l|cal|or ol |rverlory lo||oWed oy l|e
raragererl are reasorao|e ard adequale |r re|al|or lo l|e s|ze ol
l|e corpary ard l|e ralure ol |ls ous|ress.
c) T|e corpary |s ra|rla|r|rg proper records ol |rverlory.T|e
d|screparc|es rol|ced or ver|l|cal|or oy l|e Varagererl oelWeer l|e
p|ys|ca| sloc| ard ooo| records |ave oeer proper|y dea|l W|l| |r l|e
ooo|s ol accourl ard Were rol raler|a|.
(|||) (a) T|e Corpary |as rol grarled ary |oars, secured or ursecured lo
corpar|es, l|rrs or ol|er parl|es covered |r l|e reg|sler ra|rla|red
urder secl|or 301 ol l|e Corpar|es Acl, 195o.
(o) T|e Corpary |as rol la|er ary |oars, secured or ursecured lror
corpar|es, l|rrs or ol|er parl|es covered |r l|e reg|sler ra|rla|red
urder secl|or 301 ol l|e Corpar|es Acl, 195o.
(|v) lr our op|r|or ard accord|rg lo l|e |rlorral|or ard exp|aral|ors g|ver lo
us, l|ere |s ar adequale |rlerra| corlro| sysler corrersurale W|l| l|e s|ze
ol l|e corpary ard ralure ol |ls ous|ress, W|l| regard lo l|e purc|ases ol
|rverlory, l|xed assels ard W|l| regard lo l|e sa|e ol goods ard serv|ces.
0ur|rg l|e course ol our aud|l, We |ave rol ooserved ary corl|ru|rg la||ure lo
correcl rajor Wea|resses |r |rlerra| corlro| sysler ol l|e corpary.
(v) Accord|rg lo l|e |rlorral|or ard exp|aral|or g|ver lo us
(a) parl|cu|ars ol corlracls or arrargererls relerred lo |r Secl|or 301
ol l|e Corpar|es Acl,195o |ave oeer erlered |rlo ard l|e reg|sler
requ|red lo oe ra|rla|red urder l|al Secl|or.
(o) lrarsacl|ors rade |r pursuarce ol suc| corlracls or arrargererls
|ave oeer rade al pr|ces W||c| are reasorao|e |av|rg regard lo l|e
preva|||rg rar|el pr|ce al l|e re|evarl l|re.
13
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
(v|) Accord|rg lo l|e |rlorral|or ard exp|aral|ors g|ver lo us, l|e Corpary |as
rol accepled ary depos|ls lror l|e puo||c dur|rg l|e year ard |erce l|e
d|recl|ves |ssued oy l|e Reserve 6ar| ol lrd|a ard prov|s|ors ol secl|ors
58A, 58AA or ary ol|er re|evarl prov|s|ors ol l|e Corpar|es Acl, 195o ard
l|e ru|es lrared l|ere urder are rol app||cao|e.
(v||) lr our 0p|r|or, l|e Corpary |as ar |rlerra| aud|l sysler corrersurale
W|l| l|e s|ze ard ralure ol |ls ous|ress.
(v|||) we |ave oroad|y rev|eWed l|e Cosl Records ra|rla|red oy l|e Corpary
pursuarl lo l|e Corpar|es (Cosl Accourl|rg Records) Ru|es. 2011
prescr|oed oy l|e Cerlra| 0overrrerl urder secl|or 209 (1) (d) ol l|e
Corpar|es Acl 195o, lor ra|rlerarce ol Cosl Records ard We are ol l|e
op|r|or l|al pr|ra lac|e l|e prescr|oed accourls ard records |ave oeer
rade ard ra|rla|red.
Name of the $tatue Nature of the 0ues Tota| Amount
[` H||||ons)
Per|od to Wh|ch
the amount re|ates
[F|nanc|a| Year)
Forum Where the d|spute |s pend|ng
T|e Karrala|a Sa|es Tax Acl, 195// Cerlra| Sa|es lax Acl,
195o/ T|e Karrala|a Tax or Erlry ol 0oods Acl, 19/9.
Sa|es Tax/ Erlry Tax/
lrleresl ard Pera|ly
321.49 1993-94 lo 1998-99 Assessrerl are perd|rg oelore l|e
Assess|rg Aul|or|l|es
lrcore Tax Acl, 19o1 lrcore Tax / lrleresl /
Pera|ly
122.48 2005-0o lrcore Tax Appe||ale Aul|or|ly ard
Corr|ss|orer ol lrcore Tax(Appea|s)
Cerlra| Exc|se Acl, 1944 Cerlra| Exc|se 0uly/
Serv|ce Tax/ lrleresl/
Pera|ly
4o1.09 199o-9/ lo 2011-12 Cerlra| Exc|se Appe||ale Aul|or|l|es/
V|r|slry ol F|rarce, 0overrrerl ol
lrd|a.
T|e Cuslors Acl, 19o2 Cuslors 0uly/lrleresl/
Pera|ly
o4/.54 1998-99 lo 2009-10 Cuslors Appe||ale Aul|or|l|es.
(x) T|e Corpary |as ro accuru|aled |osses al al 31sl Varc| 2012.T|e Corpary |as rol |rcurred cas| |osses dur|rg l|e year ard |r l|e |rred|ale|y preced|rg F|rarc|a|
Year.
(x|) Accord|rg lo |rlorral|or ard exp|aral|ors g|ver lo us ard as per our ver|l|cal|or ol l|e records ol l|e corpary, l|e corpary |as rol delau|led |r repayrerl ol dues lo
l|e l|rarc|a| |rsl|lul|ors ard oar|s.
(x||) T|e Corpary |as rol grarled ary |oars or advarces or l|e oas|s ol l|e secur|ly oy Way ol p|edge ol s|are, deoerlure ard ol|er secur|l|es.
(x|||) S|rce l|e corpary |s rol a C||l Furd/ ||d||/ Vulua| 6erel|l Furd/ Soc|ely, l|e re|aled reporl|rg requ|rererls are rol app||cao|e.
(x|v) T|e Corpary Was dea||rg |r Vulua| Furd lrveslrerls dur|rg l|e Year. Proper Records ol Trarsacl|ors ard Corlracls |ave oeer ra|rla|red ard l|re|y erlr|es |ave
oeer rade. T|e sa|d |rveslrerls |ave oeer |e|d oy l|e corpary |r |ls oWr rare.
(xv) Accord|rg lo l|e |rlorral|or ard exp|aral|ors g|ver lo us, l|e lerrs ard cord|l|ors ol l|e 0uararlees g|ver oy l|e Corpary, lor l|e |oars la|er oy |eW Varga|ore Porl
Trusl lror 6ar|s ard F|rarc|a| lrsl|lul|ors, are rol prejud|c|a| lo l|e lrleresl ol l|e Corpary. Excepl lor l|e aoove, l|e Corpary |as rol g|ver ary guararlee, lor |oars
la|er oy ol|ers, lror oar|s or l|rarc|a| |rsl|lul|ors.
(xv|) Accord|rg lo l|e |rlorral|or ard exp|aral|ors g|ver lo us, l|e corpary |as ava||ed lerr |oars dur|rg l|e year ard l|e sare |ave oeer app||ed lor l|e purpose lor W||c|
l|e Loars Were oola|red excepl Rs.o40 V||||or ava||ed al l|e erd ol l|e year |rvesled |r depos|ls W|l| oar|s.
(xv||) Accord|rg lo l|e |rlorral|or ard exp|aral|ors g|ver lo us ard or ar overa|| exar|ral|or ol l|e F|rarc|a| Slalererls ol l|e Corpary We reporl l|al l|e lurds ra|sed or
s|orl lerr oas|s |ave rol oeer ul|||zed lor |org lerr |rveslrerl.
(xv|||) 0ur|rg l|e year l|e Corpary |as rol rade ary prelererl|a| a||olrerl ol s|ares .
(x|x) T|e Corpary |as ro oulslard|rg deoerlures al l|e erd ol l|e year.
(xx) T|e Corpary |as rol ra|sed ary rorey oy puo||c |ssues dur|rg l|e year.
(xx|) Accord|rg lo l|e |rlorral|or ard exp|aral|or g|ver lo us, ro lraud or or oy l|e Corpary |as oeer rol|ced or reporled dur|rg l|e year.
(|x) a) Accord|rg lo l|e |rlorral|or ard exp|aral|ors g|ver lo us ard as per
l|e records ol l|e corpary, l|e Corpary |as oeer gerera||y regu|ar
|r depos|l|rg urd|spuled slalulory dues |rc|ud|rg Prov|derl Furd,
lrveslorEducal|orardProlecl|orFurd,Erp|oyee'sSlalelrsurarce,
lrcore Tax, Sa|es Tax,wea|l| Tax,Serv|ce Tax,Cuslors 0uly,Exc|se
0uly ard ol|er slalulory dues W|l| l|e appropr|ale aul|or|l|es dur|rg
l|e year. T|ere are ro arrears ol urd|spuled slalulory dues ol raler|a|
ralure oulslard|rg lor a per|od ol rore l|ar o rorl|s, lror l|e dale
or W||c| l|ey oecare payao|e.
o) Accord|rg lo l|e |rlorral|or ard exp|aral|ors g|ver lo us ard as per
our ver|l|cal|or ol records ol l|e corpary, l|e d|spuled arourls ol lax
W||c| are rol depos|led W|l| appropr|ale aul|or|l|es as al 31sl Varc|
2012, are as lo||oWs:
For HAhAPAJ N.P.$uPE$h & 6o
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 001931S
For 00PALA|YEP AN0 $ußPAHAN|AN
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 0009o0S
6A N P $uPE$h
Parlrer
Veroers||p |o. 021oo1
6A $. $uN0AP
Parlrer
Veroers||p |o. 202/25
|eW 0e||| : 23
rd
Vay, 2012
14
Annua| Peport 2011-12
ßALAN6E $hEET A$ AT 31$T HAP6h 2012
[ ` |n H||||on)
Part|cu|ars Note No. A$ AT
31st Harch 2012
A$ AT
31st Harch 2011
l. E0u|TY AN0 L|Aß|L|T|E$
1 $hareho|ders'funds
(a) S|are cap|la| 2 1/,5/2.5/ 1/,o18.50
(o) Reserves ard Surp|us 3 54,/19.3/ 4/,o/0.51
2 Non-current ||ab|||t|es
(a) Lorg-lerr oorroW|rgs 4 38,919.12 10,o5o.o/
(o) 0elerred lax ||ao|||l|es (|el) 5 4,531.40 3,4/1.o4
(c) 0l|er Lorg lerr ||ao|||l|es ê 20.29 33.59
(d) Lorg-lerr prov|s|ors I 288.o/ 234./9
3 6urrent ||ab|||t|es
(a) S|orl-lerr oorroW|rgs 8 18,59/.93 599.03
(o) Trade payao|es 9 111,04o.o0 88,922.12
(c) 0l|er currerl ||ao|||l|es 10 12,819.35 11,012.05
(d) S|orl-lerr prov|s|ors 11 3,045.o2 4,/92.42
T0TAL 2ê1,5ê0.92 185,011.32
ll. A$$ET$
Non-current assets
1 (a) F|xed assels 12
(|) Targ|o|e assels 40,525.04 30,818.54
(||) lrlarg|o|e assels /3.39 //.o3
(|||) Cap|la| Wor|-|r-progress /0,891./4 39,953.35
(o) |or-currerl |rveslrerls 13 150.02 150.02
(c) Lorg-lerr |oars ard advarces 14 /,530.51 15,o13.0o
(d) 0l|er ror-currerl assels 15 21.40 13.04
2 6urrent assets
(a) Currerl |rveslrerls 1ê 2/2./8 2/2./8
(o) lrverlor|es 1I /8,1/5./o 40,9/3.84
(c) Trade rece|vao|es 18 34,592.oo 25,300.80
(d) Cas| ard 6ar| oa|arces 19 22,34/.1o 24,o/o.48
(e) S|orl-lerr |oars ard advarces 20 5,/o1.20 o,582.o2
(l) 0l|er currerl assels 21 1,219.2o 5/9.1o
T0TAL 2ê1,5ê0.92 185,011.32
S|gr|l|carl Accourl|rg Po||c|es 1
0l|er 0|sc|osure 30
See accorpary|rg roles lo l|e F|rarc|a| Slalererls
As per our report of even date attached For and on beha|f of the ßoard
For HAhAPAJ N.P.$uPE$h & 6o
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 001931S
For 00PALA|YEP AN0 $ußPAHAN|AN
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 0009o0S
$u0h|P VA$u0EVA
C|a|rrar
6A N P $uPE$h
Parlrer
Veroers||p |o. 021oo1
6A $. $uN0AP
Parlrer
Veroers||p |o. 202/25
u. K. ßA$u
Varag|rg 0|reclor
|eW 0e||| : 23
rd
Vay, 2012 0|NE$h H|$hPA
Corpary Secrelary
V|$hNu A0PAwAL
0|reclor (F|rarce)
15
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
As per our report of even date attached For and on beha|f of the ßoard
For HAhAPAJ N.P.$uPE$h & 6o
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 001931S
For 00PALA|YEP AN0 $ußPAHAN|AN
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 0009o0S
$u0h|P VA$u0EVA
C|a|rrar
6A N P $uPE$h
Parlrer
Veroers||p |o. 021oo1
6A $. $uN0AP
Parlrer
Veroers||p |o. 202/25
u. K. ßA$u
Varag|rg 0|reclor
|eW 0e||| : 23
rd
Vay, 2012 0|NE$h H|$hPA
Corpary Secrelary
V|$hNu A0PAwAL
0|reclor (F|rarce)
$TATEHENT 0F PP0F|T AN0 L0$$ A660uNT F0P ThE YEAP EN0E0 31$T HAP6h, 2012
[ ` |n H||||on)
Part|cu|ars Pefer Note
No.
For the year ended
31.03.2012
For the year ended
31.03.2011
l. Reverue lror operal|ors 22 5/2,13o.88 43/,304.5/
Less: Exc|se 0uly 34,434.12 48,435.oo
|el Reverue lror 0peral|ors 53/,/02./o 388,8o8.91
ll. 0l|er |rcore 23 3,4/3./o 2,103.83
lll. Tota| Pevenue [| + ||) 541,1Iê.52 390,9I2.I4
lV. Experses:
Cosl ol raler|a|s corsured (Reler role 30.14) 512,3o/.50 3/2,193.3/
lrcrease (-) / decrease lr sloc| 24 -1,502.05 -8,152./1
Erp|oyee oerel|ls experse 25 1,o0o.42 1,845.35
F|rarce cosls 2ê 2,0oo.// 1,04o.54
0eprec|al|or ard arorl|zal|or experse 2I 4,338./3 3,914.19
0l|er experses 28 9,09/.12 2,/55.18
Tota| expenses 52I,9I4.49 3I3,ê01.92
V. Prof|t before except|ona| and extraord|nary |tems and tax [|||-|V) 13,202.03 1I,3I0.82
Vl. Excepl|ora| |lers - -
Vll. Prof|t before extraord|nary |tems and tax [V - V|) 13,202.03 1I,3I0.82
Vlll. Exlraord|rary llers - -
lX. Prof|t before tax [V||- V|||) 13,202.03 1I,3I0.82
X Tax experse:
(1) Currerl lax 3,042.2/ 8,/80.50
(2) Pr|or Year's Tax adjuslrerls 14.23 -45.43
(3) 0elerred lax 1,059./5 -3,130.58
Xl Prof|t [Loss) for the year [|X - X) 9,085.I8 11,Iêê.33
Xll Earr|rgs per equ|ly s|are: 29
(1) 6as|c 5.18 o./1
(2) 0||uled 4.94 o.21
S|gr|l|carl Accourl|rg Po||c|es 1
0l|er 0|sc|osure 30
See accorpary|rg roles lo l|e F|rarc|a| Slalererls
1o
Annua| Peport 2011-12
[` |n H||||on)
For the year ended
31.03.2012
For l|e year erded
31.03.2011
A. 6A$h FL0w FP0H 0PEPAT|N0 A6T|V|T|E$ :
Prof|t ßefore Tax 13,202.03 1I,3I0.82
Ad[ustments for :
- 0eprec|al|or / Arorl|sal|or 4,393.80 3,930.30
- Loss/ (Prol|l) or sa|e ol F|xed Assels 12.oo 18.31
- Prov|s|ors wr|ller oac| (o1.10) (201.3o)
- Prov|s|or lor 0ouollu| 0eols/ Advarces - 10o.53
- Prov|s|or lor |or-Vov|rg lrverlory/ Sloc| Loss 1.o8 0.40
- lrleresl Experse 2,0oo.// 1,04o.54
- lrleresl/ 0|v|derd lrcore (3,241.2o) (1,848.o8)
0perat|ng Prof|t before work|ng 6ap|ta| changes 1ê,3I4.58 20,422.8ê
Adjuslrerl lor :
- Trade ard ol|er rece|vao|es (1,3o5.93) (14,o09./4)
- lrverlor|es (3/,203.o5) (9,830.o9)
- Trade payao|e ard prov|s|ors 19,959.88 31,o/3.90
Cas| gereraled lror operal|ors (2,235.12) 2/,o5o.33
- 0|recl laxes pa|d (rel ol relurds) (4,322.5o) (8,212.21)
Cas| l|oW oelore Pr|or Per|od |lers (o,55/.o8) 19,444.12
- Pr|or Per|od |lers (cas| |lers) (33.25) (20.35)
Net 6ash f|oW from 0perat|ng Act|v|t|es [a) [ê,590.93) 19,423.II
ß. 6A$h FL0w FP0H |NVE$T|N0 A6T|V|T|E$
Purc|ase ol F|xed assels (32,o48.92) (35,o23.01)
Sa|e ol F|xed assels 13.04 o.84
lrleresl/ 0|v|derd lrcore rece|ved 3,285.9o 2,o23.8/
lrveslrerl |r Assoc|ale/ Jo|rl verlure corpar|es - -
Tax Pa|d or lrleresl lrcore (292.o5) (219.93)
Net 6ash f|oW from |nvest|ng Act|v|t|es [b) [29,ê42.5I) [33,212.23)
6. 6A$h FL0w FP0H F|NAN6|N0 A6T|V|T|E$
Proceeds lror lssue ol S|are Cap|la| (45.93) -
Proceeds lror Lorg Terr 6orroW|rgs 28,2o2.45 0.00
Proceeds lror S|orl Terr 6orroW|rgs 1/,998.91 (1,394.22)
lrleresl ard F|rarce c|arges pa|d (2,0o5.o3) (1,04o.53)
0|v|derd ard 0|v|derd lax pa|d (2,444.31) (2,452.43)
Net 6ash f|oW from F|nanc|ng Act|v|t|es [c) 41,I05.49 [4,893.18)
-Net |ncrease | [0ecrease) |n 6ash and 6ash Equ|va|ents [a+b+c) 5,4I1.99 (18,o81.o4)
6ash and 6ash Equ|va|ents as at the beg|nn|ng of the year 1ê,ê98.10 35,3/9./4
6ash and 6ash Equ|va|ents as at the end of the year 22,1I0.09 1o,o98.10
5,4I1.99 (18,o81.o4)
1) Cas| ard Cas| Equ|va|erls
Cas| oa|arces |rc|ud|rg |rpresl 0./8 0.20
C|eques or lard - -
6ar| 6a|arces W|l| Sc|edu|e 6ar|s¯¯ 22,1o9.31 1o,o9/.90
22,1I0.09 1o,o98.10
¯¯ Exc|udes oa|arces |r currerl accourl/depos|l accourl ol |rleresl Warrarl/relurd accourls, urder ||er, p|edge W|l| oar|s / 0ovl. aul|or|l|es ` 1//.0/ (Prev|ous Year
` /,9/8.38 V||||or )
2) Prev|ous Year's l|gures |ave oeer re-grouped/ re-arrarged W|ereever recessary lo corlorr lo l|e currerl year's preserlal|or.
6A$h FL0w $TATEHENT F0P ThE YEAP EN0E0 31$T HAP6h, 2012
As per our report of even date attached For and on beha|f of the ßoard
For HAhAPAJ N.P.$uPE$h & 6o
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 001931S
For 00PALA|YEP AN0 $ußPAHAN|AN
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 0009o0S
$u0h|P VA$u0EVA
C|a|rrar
6A N P $uPE$h
Parlrer
Veroers||p |o. 021oo1
6A $. $uN0AP
Parlrer
Veroers||p |o. 202/25
u. K. ßA$u
Varag|rg 0|reclor
|eW 0e||| : 23
rd
Vay, 2012 0|NE$h H|$hPA
Corpary Secrelary
V|$hNu A0PAwAL
0|reclor (F|rarce)
1/
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
N0TE 1
$|0N|F|6ANT A660uNT|N0 P0L|6|E$
1 Account|ng 6onvent|ons and ßas|s of Presentat|on | Account|ng
1.1 T|e l|rarc|a| slalererls are prepared urder l|e ||slor|ca| cosl
corverl|or, |r accordarce W|l| l|e 0erera||y Accepled Accourl|rg
Pr|rc|p|es (0AAP), l|e prov|s|ors ol l|e Corpar|es Acl, 195o ard
l|e Accourl|rg Slardards |ssued urder l|e Corpar|es (Accourl|rg
Slardards) Ru|es, 200o
1.2 A|| |rcore ard experses lo l|e exlerl cors|dered rece|vao|e / payao|e
W|l| reasorao|e cerla|rly are accourled lor or accrua| oas|s.
2 use of Est|mates
T|e preparal|or ol l|rarc|a| slalererls requ|res esl|rales ard assurpl|ors
lo oe rade l|al allecl l|e reporled arourl ol assels ard ||ao|||l|es or l|e
dale ol l|e l|rarc|a| slalererls ard l|e reporled arourl ol reverues ard
experses dur|rg l|e reporl|rg per|od. T|e d|llererce oelWeer l|e aclua|
resu|ls ard esl|rales are recogr|sed |r l|e per|od |r W||c| l|e resu|ls are
|roWr / raler|a||sed.
3 6ash F|oW $tatement
Cas| F|oW Slalererl |as oeer prepared |r accordarce W|l| l|e |rd|recl
rel|od prescr|oed |r Accourl|rg Slardard - 3 |ssued urder l|e Corpar|es
(Accourl|rg Slardards) Ru|es, 200o ard as requ|red oy l|e Secur|l|es ard
Exc|arge 6oard ol lrd|a.
4 F|xed Assets
4.1 Lard |s slaled al ||slor|ca| cosl |ess arorl|sal|or W|erever app||cao|e.
4.2 0l|er F|xed assels are slaled al ||slor|ca| cosl |ess accuru|aled
deprec|al|or/ Arorl|sal|or ard |rpa|rrerl.
4.3 Spares rece|ved a|org W|l| l|e P|arl or Equ|prerl ard l|ose
purc|ased suosequerl|y lor spec|l|c rac||rery ard |av|rg |rregu|ar
use are cap|la||sed.
4.4 0ur|rg l|e per|od ol corslrucl|or, d|recl|y |derl|l|ao|e experses are
cap|la||sed al l|e l|rsl |rslarce ard a|| ol|er a||ocao|e experses are
cap|la||sed proporl|orale|y or l|e oas|s ol l|e va|ue ol l|e assels.
4.5 Cosl lor l||s purpose |rc|udes purc|ase pr|ces, dul|es (rel ol cerval),
laxes, |rc|derla| experses, erecl|or / corr|ss|or|rg experses,
lec|r|ca| |roW|oW lee, proless|ora| lee, |rleresl uplo l|e dale l|e
assel |s pul lo use ard exc|arge rale d|llererces ar|s|rg or |org
lerr lore|gr currercy rorelary |lers |r so lar as l|ey re|ale lo l|e
acqu|s|l|or ol deprec|ao|e assels elc.
5 |mpa|rment
lrpa|rrerl ol cas| gereral|rg ur|ls / assels |s ascerla|red ard cors|dered
W|ere l|e carry|rg cosl exceeds l|e recoverao|e arourl oe|rg l|e ||g|er ol
rel rea||sao|e arourl ard va|ue |r use.
ê 0eprec|at|on | Amort|sat|on
o.1 0eprec|al|or or F|xed Assels (|rc|ud|rg l|ose la|er or |ease) |s
prov|ded or Slra|g|l L|re Vel|od, al l|e rales ard |r l|e rarrer
spec|l|ed |r Sc|edu|e XlV lo l|e Corpar|es Acl, 195o.
o.2 Cosl ol |ease|o|d |ard |s arorl|sed over l|e |ease per|od. Cosl ol
|ease|o|d |ards W|ere l|e lrarsler ol oWrers||p lo l|e corpary or
exp|ry ol l|e |ease per|od |s everlua||y cerla|r are rol arorl|sed.
N0TE$
o.3 0eprec|al|or or arourls cap|la||sed or accourl ol lore|gr exc|arge
l|uclual|or |s prov|ded prospecl|ve|y over res|dua| ||le ol l|e assels.
o.4 0eprec|al|or or spares, |av|rg |rregu|ar use ard purc|ased
suosequerl lo l|e |rsla||al|or ol spec|l|c rac||rery |s prov|ded
prospecl|ve|y over res|dua| ||le ol l|e spec|l|c rac||rery ard Wr|ller
doWr va|ue ol l|e spare |s c|arged lo Prol|l ard Loss Accourl as ard
W|er rep|aced.
I |ntang|b|e Assets:
Cosl |rcurred or |rlarg|o|e assel, resu|l|rg |r lulure ecoror|c oerel|ls are
cap|la||sed as |rlarg|o|e assels ard arorl|sed or equaled oas|s over l|e
esl|raled uselu| ||le ol suc| assels.
8 |nvestments
8.1 Lorg lerr |rveslrerls are va|ued al cosl. Prov|s|or |s rade lor ary
d|r|rul|or, ol|er l|ar lerporary |r l|e accourls.
8.2 Currerl lrveslrerls are va|ued al |oWer ol cosl ard la|r va|ue.
9 |nventor|es
lrverlor|es are va|ued al |oWer ol cosl ard rel rea||sao|e va|ue. Cosl ol
|rverlor|es corpr|ses ol purc|ase cosl ard ol|er cosls |rcurred |r or|rg|rg
|rverlor|es lo l|e|r preserl |ocal|or ard cord|l|or. T|e cosl |as oeer
delerr|red as urder:
9.1 RaW raler|a| - or F|rsl |r F|rsl oul (FlF0) oas|s.
9.2 F|r|s|ed Producls - al RaW raler|a| ,Corvers|or cosl ard exc|se duly.
9.3 Sloc|-|r-Process - al RaW raler|a| ard Proporl|orale Corvers|or
cosl.
9.4 Slores, Spares ard ol|er lrad|rg 0oods - or We|g|led average cosl
oas|s
10 Pevenue Pecogn|t|on
10.1 Sa|es are recogr|sed or lrarsler ol cuslody lo cuslorers ard |rc|udes
a|| slalulory |ev|es excepl Va|ue Added Tax (VAT) ard |s rel ol
d|scourls.
10.2 0|v|derd |rcore |s recogr|sed W|er l|e r|g|l lo rece|ve l|e d|v|derd
|s eslao||s|ed.
10.3 lrleresl |rcore |s recogr|sed or a l|re proporl|or oas|s
10.4 Reverue lror sa|e ol scrap are recogr|sed or lrarsler ol cuslody lo
cuslorers.
10.5 Reverue |r respecl ol L|qu|daled 0arages lror corlraclors/ supp||ers
|s recogr|sed W|er delerr|red as rol payao|e.
10.o Exc|se duly recovery lror cuslorer |s deducled lror Turrover (gross).
Exc|se duly d|llererl|a| oelWeer c|os|rg ard oper|rg sloc| ol exc|sao|e
goods |s |rc|uded urder ol|er experses.
11 6|a|ms
11.1 C|a|rs/Surrerders or/lo Pelro|eur P|arr|rg ard Ara|ys|s Ce||,
0overrrerl ol lrd|a are ooo|ed or'|r pr|rc|p|e acceplarce' l|ereol
or l|e oas|s ol ava||ao|e |rslrucl|ors/c|ar|l|cal|ors suojecl lo l|ra|
adjuslrerls, as sl|pu|aled.
18
Annua| Peport 2011-12
11.2 lrsurarce C|a|rs
11.2.1 lr case ol lola| |oss ol assel, or |rl|ral|or lo l|e |rsurer, e|l|er l|e
carry|rg cosl ol l|e assel or |rsurarce va|ue (suojecl lo deducl|o|e
excess) W||c|ever |s |oWer |s lrealed as c|a|rs recoverao|e lror
|rsurarce corpary. lr case |rsurarce c|a|r |s |ess l|ar l|e carry|rg
cosl ol l|e assel, l|e d|llererce |s c|arged lo Prol|l ard Loss
accourl.
11.2.2 lr case ol parl|a| or ol|er |osses, experd|lure |rcurred / payrerls
rade lo pul suc| assels oac| |rlo use, lo reel l|e l||rd parly or ol|er
||ao|||l|es (Less deducl|o|e excess) |l ary, are accourled lor as c|a|rs
rece|vao|e lror |rsurarce corpary. lrsurarce Po||cy 0educl|o|e
Excess are expersed |r l|e year l|e correspord|rg experd|lure |s
|rcurred'
11.2.3 As ard W|er c|a|rs are l|ra||y rece|ved lror l|e |rsurarce corpary,
l|e d|llererce, |l ary, oelWeer l|e c|a|r rece|vao|e lror |rsurarce
corpary ard c|a|rs rece|ved |s adjusled lo Prol|l ard Loss
accourl
11.3 A|| ol|er c|a|rs ard prov|s|ors are ooo|ed or l|e rer|ls ol eac| case.
12 Fore|gn 6urrency Transact|ons
12.1 Fore|gr Currercy Trarsacl|ors are accourled lor al l|e exc|arge
rales preva|||rg or l|e dale ol l|e lrarsacl|ors.
12.2 T|e lore|gr currercy assels / ||ao|||l|es ol rorelary |lers are lrars|aled
us|rg l|e exc|arge rales preva|||rg or l|e reporl|rg dale.
12.3 T|e exc|arge d|llererces or lrars|al|or ol lore|gr currercy
lrarsacal|ors or l|e reporl|rg dale are recogr|sed as |rcore or
experse ard adjusled lo l|e prol|l ard |oss accourl excepl exc|arge
d|llererces ar|s|rg or reporl|rg ol |org lerr lore|gr currercy rorelary
|lers |r so lar as l|ey re|ale lo l|e acqu|s|l|or ol deprec|ao|e cap|la|
assels are added lo /or deducled lror cosl ol l|e assels.
12.4 T|e rar| lo rar|el |osses (rel) |r respecl ol ur-exp|red lorWard
corlracls erlered |rlo lo |edge l|e r|s| ol c|arges |r lore|gr currercy
exc|arge rales or lulure exporl sa|es aga|rsl l|e ex|sl|rg corlracl are
recogr|sed |r l|e prol|l ard |oss accourl.
13 Emp|oyee ßenef|ts
13.1 A|| s|orl lerr erp|oyee oerel|ls are recogr|sed al l|e|r urd|scourled
arourl |r l|e accourl|rg per|od |r W||c| l|ey are |rcurred. Erp|oyee
6erel|ls urder del|red corlr|oul|or p|ars corpr|s|rg prov|derl
lurd ard superarrual|or lurd are recogr|sed or l|e urd|scourled
oo||gal|ors ol l|e corpary lo corlr|oule lo l|e p|ar. T|e sare |s pa|d
lo Prov|derl Furd Trusl aul|or|l|es ard lo L|le lrsurarce Corporal|or
ol lrd|a respecl|ve|y, W||c| are expersed dur|rg l|e year
13.2 Erp|oyee oerel|ls urder del|red oerel|l p|ars corpr|s|rg ol 0ralu|ly,
|eave ercas|rerl, |org serv|ce ero|er, posl rel|rererl red|ca|
oerel|ls ard ol|er |org lerr rel|rererl oerel|ls are recogr|sed oased
or l|e preserl va|ue ol del|red oerel|l oo||gal|or, W||c| |s corpuled
or l|e oas|s ol acluar|a| va|ual|or us|rg l|e Projecled ur|l Cred|l
Vel|od. Acluar|a| ||ao|||ly |r excess ol respecl|ve p|ar assels |r respecl
ol gralu|ly |s recogr|sed dur|rg l|e year.
13.3 Acluar|a| ga|rs ard |osses are recogr|sed |r l|e Prol|l ard Loss
accourl as |rcore or experses.
13.4 urd|scourled arourl ol s|orl-lerr ||ao|||ly or accourl ol ur-ava||ed
|eave |s delerr|red ard prov|ded lor al l|e year erd.
13.5 Prov|s|or lor 0ralu|ly as per acluar|a| va|ual|or |s lurded W|l| a
separale lrusl.
14 Leases
14.1 Lease rerla|s |r respecl ol l|rarce |ease are segregaled |rlo cosl
ol assels ard |rleresl corporerl oy app|y|rg l|e |rp||c|l rale ol
relurr.
14.2 Assels acqu|red or |ease W|ere a s|gr|l|carl porl|or ol l|e r|s|s ard
reWards ol oWrers||p are rela|red oy l|e |essor are c|ass|l|ed as
operal|rg |eases. Lease rerla|s are c|arged lo l|e Prol|l ard Loss
Accourl or accrua| oas|s.
15 ßorroW|ng 6osts
6orroW|rg cosls l|al are allr|oulao|e lo acqu|s|l|or, corslrucl|or or producl|or
ol qua||ly|rg assels, are cap|la||sed as parl ol l|e cosl ol suc| assels. A
qua||ly|rg assel |s ar assel l|al recessar||y la|es a suoslarl|a| per|od ol l|re
lo gel ready lor |rlerded use. A|| ol|er oorroW|rg cosls are c|arged lo l|e
Prol|l ard Loss Accourl.
1ê Pesearch and 0eve|opment expend|ture
Cap|la| experd|lure or Researc| ard 0eve|oprerl |s cap|la||sed urder l|e
respecl|ve l|xed assels. Reverue experd|lure l|ereor |s c|arged lo Prol|l
ard Loss accourl.
1I Taxes on |ncome
1/.1 Currerl lax |s delerr|red or l|e oas|s ol laxao|e |rcore corpuled |r
accordarce W|l| l|e prov|s|ors ol l|e lrcore Tax Acl, 19o1.
1/.2 0elerred lax |s recogr|sed or l|r|rg d|llererces oelWeer laxao|e ard
accourl|rg |rcore/experd|lure l|al or|g|rales |r ore per|od ard are
capao|e ol reversa| |r ore or rore suosequerl per|od(s). 0elerred Tax
Assel |s recogr|sed or l|e oas|s ol v|rlua|/reasorao|e cerla|rly aooul
|ls rea||sao|||ly, as app||cao|e.
18 Prov|s|ons, 6ont|ngent L|ab|||t|es and 6ont|ngent Assets
Prov|s|ors |rvo|v|rg suoslarl|a| degree ol esl|ral|or |r reasurererl are
recogr|sed W|er l|ere |s a preserl oo||gal|or as a resu|l ol pasl everls ard
|l |s prooao|e l|al l|ere W||| oe ar oull|oW ol resources. Corl|rgerl ||ao|||l|es,
|l raler|a|, are d|sc|osed oy Way ol roles. Corl|rgerl Assels are re|l|er
recogr|sed ror d|sc|osed |r l|e l|rarc|a| slalererls. .
19
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
N0TE 2 $hAPE 6AP|TAL
2.1 0eta||s of Author|sed, |ssued and $ubscr|bed and Pa|d up share cap|ta|
2.1.1 Equ|ty $hare 6ap|ta| A$ AT 31st Harch 2012 A$ AT 31st Harch 2011
Number ` |n H||||on Number ` |n H||||on
Author|sed
Equ|ly S|ares ol ` 10 eac| 1,900,000,000 19,000.00 1,900,000,000 19,000
Redeerao|e Prelererce S|ares C 0.01º |or Curu|al|ve, ` 5 eac|
(Prev|ous Year ` 10 eac|)
100,000,000 1,000 100,000,000 1,000
Tota| 2,000,000,000 20,000.00 2,000,000,000 20,000
2.1.2 Equ|ty $hare 6ap|ta|
|ssued $ubscr|bed & Pa|d up
Equ|ly S|ares ol ` 10 eac| 1,/52,598,/// 1/,525.99 1,/52,598,/// 1/,525.99
Forfe|ted $hares 0.o5 0.o5
Tota| 1,/52,598,/// 1/,52o.o4 1,/52,598,/// 1/,52o.o4
2.1.3 Preference $hare 6ap|ta|
|ssued $ubscr|bed & Pa|d up
0.01º |or Curu|al|ve, Redeerao|e Prelererce S|ares ol ` 5 eac|
(Prev|ous Year ` 10 eac|)
9,18o,242 45.93 9,18o,242 91.8o
Tota| 9,18o,242 45.93 9,18o,242 91.8o
2.1.4 Tota| |ssued, $ubscr|bed & pa|d up [2.1.2+2.1.3) 1,/o1,/85,019 1/,5/2.5/ 1,/o1,/85,019 1/,o18.50
2.2 Peconc|||at|on of shares
2.2.1 Equ|ty $hares
S|ares oulslard|rg al l|e oeg|rr|rg ol l|e year 1,/52,598,/// 1/,525.99 1,/52,598,/// 1/,525.99
S|ares oulslard|rg al l|e erd ol l|e year 1,/52,598,/// 1/,525.99 1,/52,598,/// 1/,525.99
2.2.2 Preference $hares
S|ares oulslard|rg al l|e oeg|rr|rg ol l|e year 9,18o,242 91.8o 9,18o,242 91.8o
S|ares redeered dur|rg l|e year - 45.93 - -
S|ares oulslard|rg al l|e erd ol l|e year 9,18o,242 45.93 9,18o,242 91.8o
2.3 P|ghts, preferences and restr|ct|ons attached
Part|cu|ars Equ|ty $hares Preference $hares
0|slr|oul|or ol 0|v|derd As approved oy S|are|o|ders |r A0V F|xed C 0.01º or Face Va|ue
Repayrerl ol Cap|la| |ol F|xed Rederpl|or |r lWo Equa| lrsla||rerl (1sl Ju|y 2011 ard 1sl Ju|y 2012)
2.4 $hares he|d by ho|d|ng or u|t|mate ho|d|ng company or |ts subs|d|ar|es or assoc|ates
1,255,354,09/ Equ|ly S|ares (1,255,354,09/ Equ|ly S|ares ) are |e|d oy 0|0C L|r|led, l|e |o|d|rg corpary.
2.5 0eta||s of shareho|ders ho|d|ng more than 5º of tota| shares
2.5.1 Equ|ty $hares
Name of $hareho|der A$ AT 31st Harch 2012 A$ AT 31st Harch 2011
No. of $hares
he|d
º of ho|d|ng No. of $hares
he|d
º of ho|d|ng
0|| ard |alura| 0as Corporal|or L|r|led 1,255,354,09/ /1.o3º 1,255,354,09/ /1.o3º
l|rduslar Pelro|eur Corporal|or L|r|led 29/,153,518 1o.9oº 29/,153,518 1o.9oº
2.5.2 Preference $hares
lFCl L|r|led /,148,949 //.82º /,148,949 //.82º
Slale 6ar| ol lyderaoad 2,03/,293 22.18º 2,03/,293 22.18º
2.ê No shares are reserved for |ssue under opt|ons and contracts|comm|tments for the sa|e of shares|d|s|nvestment
20
Annua| Peport 2011-12
2.I 6onvert|b|e secur|t|es to equ|ty or preference shares
Name of the secur|ty No. of secur|t|es Terms of convers|on As At
31$t Harch 2012
As At
31$t Harch 2011
No of $hares No of $hares
Zero Coupor 6ord 142,809,235 Corverl|o|e |rlo Equ|ly S|ares ol ` 10 eac| al par upor delua|l
|r repayrarl ol pr|rc|p|e or |rleresl.
/1,404,o18 142,809,235
2.8 Forfe|ted $hares
A$ AT 31st Harch 2012 A$ AT 31st Harch 2011
No. of $hares Forfe|ted Amount pa|d up |n ` H||||on No. of $hares Forfe|ted Amount pa|d up |n ` H||||on
- 0.ê5 - 0.ê5
N0TE 3 PE$EPVE$ AN0 $uPPLu$
Part|cu|ars A$ AT 31st
Harch 2012
` |n H||||on
A$ AT 31st
Harch 2011
` |n H||||on
3.1 6ap|ta| Pedempt|on Peserve [Pefer Note a)
Trarsler lror Prol|l ard Loss accourl 45.93 -
3.2 $ecur|t|es Prem|um Account
As per Lasl 6a|arce S|eel 3,490.53 3,490.53
3.3 0enera| Peserve
As per Lasl 6a|arce S|eel 1,192.00 89/.00
Add : Currerl Year Trarsler - 295.00
6|os|ng ßa|ance 1,192.00 1,192.00
3.4 Prof|t and Loss Account
As per Lasl 6a|arce S|eel 42,98/.98 33,959.49
Add : Prol|l lor l|e year 9,085./8 11,/oo.33
Add : Excess Prov|s|or lor 0|v|derd |r ear||er Years - 1.4/
Less : Trarsler lo Cap|la| Rederpl|or Reserves 45.93 -
Less : Trarsler lo 0erera| Reserves - 295.00
Less : Proposed 0|v|derds or
Equ|ly 0|v|derd (C ` 1.00 per s|are (Prev|ous year ` 1.20 per s|are)) 1,/52.o0 2,103.12
Prelererce 0|v|derd (F|xed C 0.01º or Face Va|ue ol eac| S|are) 0.00 0.01
Tax or 0|v|derd 284.32 341.18
6|os|ng ßa|ance 49,990.91 42,98I.98
Tota| 54,I19.3I 4I,êI0.51
Notes
a Cap|la| rederpl|or Reserve crealed or Rederpl|or ol Prelererce s|are cap|la| ol ` 45.93 V||||or dur|rg 2011-12.
N0TE 4 L0N0 TEPH ß0PP0w|N0$
4.1 $E6uPE0
Term |oans : From ßanks
4.1.1 Pupee term Loan [Pefer Note a) - /14.05
(Terr Loar |rc|ud|rg currerl ralur|l|es v|de |ole 10 are Secured 6y Equ|lao|e rorlgage over l|e |rrovao|e
properl|es, ool| preserl & lulure ard a|so oy |ypol|ecal|or over l|e preserl ard lulure rovao|e properl|es. T|ese
Rupee Terr Loars are corverl|o|e |rlo Equ|ly S|ares |r case ol delau|l |r repayrerl ol |oars.)
4.1.2 Externa| 6ommerc|a| ßorroW|ng [E6ß) [Pefer Note b) 2,5/o.50 -
(Secured oy l|rsl par| passu C|arge over |rrovao|e l|xed assels ard l|rsl rar||rg par| passu c|arge over rovao|e
l|xed assels ool| preserl ard lulure.C|arge/secur|ly |s |r l|e process ol oe|rg crealed)
Terms of Pepayment:
0ur|rg 2015-1o : ` 38o.4/ V||||or
0ur|rg 201o-1/ : ` o44.13 V||||or
0ur|rg 201/-18 : ` //2.95 V||||or
0ur|rg 2018-19 : ` //2.95 V||||or
2,5Iê.50 I14.05
21
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
Part|cu|ars A$ AT 31st
Harch 2012
` |n H||||on
A$ AT 31st
Harch 2011
` |n H||||on
4.2 uN$E6uPE0
4.2.1 From 0thers : Term Loan from 0|0ß [Pefer Note c)
Terms of Pepayment: 4,000.00 -
0ur|rg 2013-14 : ` 1,000.00 V||||or
0ur|rg 2014-15 : ` 1,000.00 V||||or
0ur|rg 2015-1o : ` 1,000.00 V||||or
0ur|rg 201o-1/ : ` 1,000.00 V||||or
4.2.2 0eferred payment ||ab|||t|es [Pefer Note d) 2,/42.o2 2,/42.o2
Terms of Pepayment:
0ur|rg 2014-15 : ` 134.34 V||||or
0ur|rg 2015-1o : ` 555.83 V||||or
0ur|rg 201o-1/ : ` 458.1/ V||||or
0ur|rg 201/-18 : ` 530.30 V||||or
0ur|rg 2018-19 : ` 400.00 V||||or
0ur|rg 2019-20 : ` 400.00 V||||or
0ur|rg 2020-21 : ` 2o3.98 V||||or
4.2.3 Loans and advances from re|ated part|es [Pefer Note e)
Loan 1 3,o00.00 /,200.00
Loan 2 2o,000.00 -
Terms of Pepayment:
Loan 1
0ur|rg 2012-13 : ` 3,o00.00 V||||or
0ur|rg 2013-14 : ` 3,o00.00 V||||or
Loan 2
0ur|rg 2013-14 : ` 928.o0 V||||or
0ur|rg 2014-15 : ` 3,/14.30 V||||or
0ur|rg 2015-1o : ` 3,/14.30 V||||or
0ur|rg 201o-1/ : ` 3,/14.30 V||||or
0ur|rg 201/-18 : ` 3,/14.30 V||||or
0ur|rg 2018-19 : ` 3,/14.30 V||||or
0ur|rg 2019-20 : ` 3,/14.30 V||||or
0ur|rg 2020-21 : ` 2,/85.o0 V||||or
3ê,342.ê2 9,942.ê2
Tota| 38,919.12 10,ê5ê.êI
Notes:
a Rupee Terr Loar lror oar|s represerls ZER0 Coupor Loar (||| lrleresl rale) .
b T|e |rleresl rale lor EC6 |s Ll60R 0./3o8 pcl. p.a p|us rarg|r 3.30 pcl.
c T|e |rleresl rale lor 0l06 lerr |oar are 8.89 º ard 9.04º or ` 3,o50.00 V||||or ard ` 350.00 V||||or respecl|ve|y.
d 0elerred Payrerl ||ao|||ly represerl|rg Sa|es Tax delerrerl |s W|l| ||| lrleresl rale .
e T|e |rleresl rale or Terr |oar lror re|aled Parl|es |.e 0|0C are /.00 º ard 10.90 º (S6AR r|rus 3.85º) or `
3,o00.00 V||||or ard ` 2o,000.00 V||||or respecl|ve|y.
N0TE 5 0EFEPPE0 TAX L|Aß|L|T|E$ [NET)
The 6ompany has 0eferred Tax L|ab|||t|es as at 31st Harch 2012 of ` 4,531.40 H||||on[ Prev|ous Year ` 3,4I1.ê4
H||||on). The ßreakup of 0eferred Tax L|ab|||t|es |s as under:
5.1 0eferred Tax L|ab|||t|es
w0V 0|llererce or Assels o,1o2.2/ o,414.05
Tota| 5.1 ê,1ê2.2I ê,414.05
22
Annua| Peport 2011-12
Part|cu|ars A$ AT 31st
Harch 2012
` |n H||||on
A$ AT 31st
Harch 2011
` |n H||||on
5.2 0eferred Tax Assets
436 0|sa||oWarces 1,395.15 2,o90.33
0l|ers 235./2 252.08
Tota| 5.2 1,ê30.8I 2,942.41
Net 0eferred Tax L|ab|||t|es [5.1-5.2) 4,531.40 3,4I1.ê4
N0TE ê 0ThEP L0N0 TEPH L|Aß|L|T|E$
0ther L|ab|||t|es 20.29 33.59
Tota| 20.29 33.59
N0TE I L0N0 TEPH PP0V|$|0N$
Emp|oyee ßenef|ts
Leave Ercas|rerl (urlurded) (Reler |ole 30.11.01) 251.51 212.2o
Posl rel|rererl Ved|ca| ard 0l|er 6erel|ls (urlurded) (Reler |ole 30.11.01) 3/.1o 22.53
Tota| 288.êI 234.I9
N0TE 8 $h0PT TEPH ß0PP0w|N0$
8.1 $ecured
$hort term Loan From ßanks : work|ng 6ap|ta| 4/.13 599.03
(Secured oy Way ol |ypol|ecal|or ol Corpary's sloc|s ol raW raler|a|s, l|r|s|ed goods, sloc|-|r-process, slores,
spares, corporerls, ooo| deols, oulslard|rg roreys rece|vao|e, c|a|r, o|||s, corlracls, ergagererls, secur|l|es,
ool| preserl ard lulure ard lurl|er secured/lo oe secured oy res|dua| c|arge or Corpary's |rrovao|e ard rovao|e
properl|es(save ard excepl Currerl Assels) ool| preserl ard lulure, rar||rg par| passu |rler se ard |rc|ud|rg a ||er
over Corpary's F|xed 0epos|l arourl|rg lo ||| (Prev|ous Year ` /,830.00 V||||or))
4I.13 599.03
8.2 unsecured : Externa| borroW|ng
S|orl lerr Loar Fror 6ar|s : 6uyers Cred|l 18,550.80 -
18,550.80 -
Tota| 18,59I.93 599.03
N0TE 9 TPA0E PAYAßLE$
Trade Payab|es
0ulslard|rg dues lo V|cro & Sra|| Erlerpr|ses - -
0ulslard|rg dues lo ol|er l|ar V|cro & Sra|| Erlerpr|ses 111,04o.o0 88,922.12
Tota| 111,04ê.ê0 88,922.12
N0TE 10 0ThEP 6uPPENT L|Aß|L|T|E$
Currerl ralur|l|es ol |org-lerr deol (Secured) (Reler role 4.1.1) /14.05 /14.05
Currerl ralur|l|es ol |org-lerr deol (urSecured) 3,o00.00 3,o00.00
urpa|d d|v|derds (Reler |ole a) 155./9 12/./5
lrleresl or Valured 0eoerlures (Reler |ole o) 0.19 0.19
0epos|ls lror Supp||ers/Corlraclors/0l|ers 90.15 /5.53
L|ao|||ly lor 0ralu|ly (Reler role c) 32.1o o9.04
Payao|e aga|rsl Cap|la| goods 3,113.01 1,291.0o
L|ao|||ly lor Slalulory Payrerls o3o.4o 4o1.99
L|ao|||ly lor Erp|oyees 238.18 31/.o2
lrleresl Accrued oul rol due /0.00 -
Payao|e lo 0|| Corpar|es or relurd lror Correrc|a| laxes 2,884.48 2,884.48
0l|ers payao|es 1,284.88 1,4/0.34
Tota| 12,819.35 11,012.05
Notes
a |o arourl |s due lor payrerl lo lrveslor Educal|or Prolecl|or Furd.
o Prov|s|or lor lrleresl loWards d|spuled C|a|rs
c |el ol arourl rece|vao|e lror 0ralu|ly lrusl
23
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
Part|cu|ars A$ AT 31st
Harch 2012
` |n H||||on
A$ AT 31st
Harch 2011
` |n H||||on
N0TE 11 $h0PT TEPH PP0V|$|0N$
11.1 Emp|oyee ßenef|ts
For Leave (urlurded) (Reler |ole 30.11.01) 38.o8 31.55
For Posl rel|rererl Ved|ca| ard 0l|er 6erel|ls (urlurded) (Reler |ole 30.11.01) 5.05 0.49
For Sa|ary & 0l|er Re|roursererls 31.22 1o./2
11.2 0thers
For Taxal|or (|el ol Advarce Tax) 219.84 1,034.83
For 0|v|derd 1,/52.o0 2,103.13
For Corporale 0|v|derd Tax 284.32 341.18
0l|ers (Reler |ole a) /13.91 1,2o4.52
Tota| 3,045.ê2 4,I92.42
|oles
T|e corpary |ad recogr|sed ||ao|||ly oased or suoslarl|a| degree ol esl|ral|or lor exc|se duly payao|e or c|earerce
ol goods |y|rg |r sloc| as or 31sl rarc| 2012 ard lor 31sl rarc| 2011 lor ` o92./1 V||||or ard ` 1,241./2 V||||or
respecl|ve|y
N0TE 12 F|XE0 A$$ET$
F|xed Assetst Pefer
Note
usefu| 0ross ß|ock 0eprec|at|on| Amort|sat|on Net ß|ock
L|fe |n
Years
As at
01-04-2011
Add|t|ons 0educt|ons|
Ad[ustments
As at
31-03-2012
As at
01-04-2011
6harge for
the year
0educt|ons|
Ad[ustments
As at
31-03-2012
As at
31-03-2012
As at
31-03-2011
` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on
12.1 Tang|b|e Assets
Lard : Free|o|d 1/.o5 - - 1/.o5 - - - - 1/.o5 1/.o5
Lard urder |ease a , o 2o8.o1 0.o3 - 2o9.24 0.45 0.08 - 0.53 2o8./1 2o8.1o
6u||d|rgs 2,932.24 410.20 - 3,342.44 o/0.81 59.31 - /30.12 2,o12.32 2,2o1.43
P|arl ard Equ|prerl c , d /2,39/.05 13,o/4.58 48.oo 8o,022.9/ 44,41/.5/ 4,2/9./4 3/.9o 48,o59.35 3/,3o3.o3 2/,9/9.48
Furr|lure ard F|xlures 115.o2 5.9/ 1.18 120.41 o1.58 8.0/ 0.9o o8.o9 51./2 54.04
Ve||c|es 22o./0 5.2/ 30.8/ 201.10 oo.88 19.84 12.45 /4.2/ 12o.83 159.82
Assets not |n use he|d for 0|sposa| e - - - -
Lard : Free|o|d //.9o - - //.9o - - - - //.9o //.9o
0l|ers 2.58 3.93 0.11 o.40 2.58 0.33 2./3 0.18 o.22 -
Tota| Tang|b|e Assets Iê,038.41 14,100.58 80.82 90,058.1I 45,219.8I 4,3êI.3I 54.10 49,533.14 40,525.04 30,818.54
12.2 |ntang|b|e Assets
- -
0oodW||| l 10 20.13 - - 20.13 8.05 2.01 - 10.0o 10.0/ 12.08
Corpuler sollWare 10 4.4/ - - 4.4/ 1.44 0.45 - 1.89 2.58 3.03
Corpuler sollWare 3 o9.82 25.4o - 95.28 11.58 25.39 - 3o.9/ 58.31 58.24
Corpuler sollWare / 0.81 - - 0.81 0.21 0.12 - 0.33 0.48 0.o0
Corpuler sollWare 4 /.39 - - /.39 3./1 1./3 - 5.44 1.95 3.o8
L|cerses ard lrarc||se 3 5o.50 - - 5o.50 5o.50 - - 5o.50 - -
Tota| |ntang|b|e Assets 159.12 25.4ê - 184.58 81.49 29.I0 - 111.19 I3.39 II.ê3
Tota| Iê,19I.53 14,12ê.04 80.82 90,242.I5 45,301.3ê 4,39I.0I 54.10 49,ê44.33 40,598.43 30,89ê.1I
Prev|ous Year I4,351.ê5 1,929.ê4 83.Iê Iê,19I.53 41,428.08 3,931.89 58.ê1 45,301.3ê 30,89ê.1I 32,923.5I
12.3 6ap|ta| work |n Progress g - - - - /0,891./4 39,953.35
Tota| - - - - - - - - I0,891.I4 39,953.35
|oles
a. lrc|udes ` 2o1.50 V||||or (Prev|ous Year ` 2o0.8/ V||||or) W||c| |as rol oeer arorl|sed |r v|eW ol l|e lacl l|al everlua||y l|e oWrers||p W||| gel lrarslerred lo l|e
Corpary or exp|ry ol l|e |ease per|od, ol W||c| ` 11.52 V||||or (Prev|ous Year ` 11.52 V||||or) |s |r l|e process oe|rg surrerdered lo Corpelerl Aul|or|ly. |el 6|oc|
` 11.52 V||||or (Prev|ous Year ` 11.52 V||||or) .
o. lrc|udes |ard va|ue ` 29.99 V||||or (Prev|ous Year ` 29.99 V||||or), W||c| |s |r possess|or ol l|e corpary loWards W||c| lorra| |ease deeds are yel lo oe execuled .
|el 6|oc| ` 29.92 V||||or (Prev|ous Year ` 29.92 V||||or)
c. lrc|udes ` /82.98 V||||or (Prev|ous Year ` /82.98 V||||or) oe|rg Corpary's s|are ol ar assel jo|rl|y oWred W|l| arol|er Corpary. |el 6|oc| ` 120./3 V||||or
(Prev|ous Year ` 1o2.0/ V||||or).
d. lrc|udes 0ll|ce Equ|prerls
e. Assels rol |r use ard |e|d lor sa|e |s s|oWr al |oWer ol cosl or esl|raled rea||sao|e va|ue.
l. Represerls cors|deral|or lor purc|ase ol ous|ress (||lroger P|arl) |r excess ol ooo| va|ue ol rel assels acqu|red.
24
Annua| Peport 2011-12
g) Cap|la| wor| lr Progress (lrc|ud|rg Projecl experses lo oe Cap|la||sed appropr|ale|y) ( ` |n H||||on)
Part|cu|ars A$ AT A$ AT A$ AT A$ AT
31|03|2012 31|03|2012 31|03|2011 31|03|2011
Cap|la| wor|-|r-Progress 82,913.95 40,9o2.3o
Projecl experd|lure lo oe Cap|la||sed appropr|ale|y
Sa|ar|es, wages & 0ralu|ly 499./2 330.2o
Corlr|oul|or lo P.F & Superarrual|or Furd o3.81 43.14
Slall we|lare Experses 0.41 0.41
Rales & Taxes 2.// 1.o1
lrsurarce 3o1.99 292.1o
V|sce||areous Experses 132.4o 82.11
ERV Loss/ (ga|r) 2o.14 0.01
lrleresl ard F|rarce Cosl 889.5o -
0eprec|al|or 8.02 1,984.88 4./5 /54.45
Tota| [a+b) 84,898.83 41,/1o.81
Less : Amount 6ap|ta||sed to F|xed assets dur|ng the year 14,00/.09 1,/o3.4o
Net 6ap|ta| work-|n-Progress /0,891./4 39,953.35
h) 0eprec|at|on prov|ded dur|ng the year |nc|udes:
|) C|arged lo Prol|l & Loss Accourl : ` 4,338./3 V||||or ( Prev|ous Year ` 3,914.19 V||||or)
||) C|arged lo Adjuslrerls re|aled lo Pr|or Per|od (|el) : ` 55.0/ ( Prev|ous Year ` 1o.11 V||||or)
|||) C|arged lo Cap|la| wor| |r Progress: ` 3.2/ V||||or ( Prev|ous Year ` 1.59 V||||or)
N0TE 13 N0N 6uPPENT |NVE$THENT$
Part|cu|ars A$ AT 31st
Harch 2012
A$ AT 31st
Harch 2011
` |n H||||on ` |n H||||on
Trade |nvestments
|nvestment |n Equ|ty |nstruments : unquoted at 6ost
S|e|| VRPL Av|al|or Fue|s ard Serv|ces Pvl. Lld.(1,50,00,000 Equ|ly S|ares ol ` 10 eac| lu||y pa|d (Prev|ous year ` 10 eac|))
(Reler |ole a)
150.00 150.00
0|0C Varga|ore Pelroc|er|ca|s Lld.(1,500 Equ|ly S|ares ol ` 10 eac| lu||y pa|d (Prev|ous year ` 10 eac|)) (Reler |ole o) 0.02 0.02
Tota| 150.02 150.02
|oles
a S|e|| VRPL Av|al|or Fue|s ard Serv|ces Pvl. Lld. Jo|rl Verlure
o 0|0C Varga|ore Pelroc|er|ca|s Lld. Assoc|ale
N0TE 14 L0N0 TEPH L0AN$ AN0 A0VAN6E$
[unsecured and 6ons|dered good un|ess and otherW|se stated)
Part|cu|ars A$ AT 31st Harch 2012 A$ AT 31st Harch 2011
` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on
14.1 To re|ated Party
Advarce loWards Equ|ly s|are o00.98 o00.98
14.2 0thers
Cap|la| Advarce o,/55.03 14,839.4o
Advarce loWards Equ|ly s|are
Erp|oyee Advarce
Secured, cors|dered good (Reler |ole a) 119.21 112.o9
Secured, cors|dered 0ouollu|| (Reler |ole a) 0.81 0.81
Less: Prov|s|or lor douollu| |oars ard advarces 0.81 119.21 0.81 112.o9
0epos|ls W|l| Cuslor, Porl elc 0.01 0.01
0epos|l W|l| 0l|ers
ursecured, cors|dered good 55.28 59.92
ursecured, cors|dered douollu|| 4.35 4.35
Less: Prov|s|or lor douollu| |oars ard advarces 4.35 55.28 4.35 59.92
Tota| I,530.51 15,ê13.0ê
25
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
|oles
a Represerls secured |oars |av|rg repayrerl sc|edu|e ol rore l|ar / years
Erp|oyee Advarce slaled aoove |rc|udes : A$ AT 31st Harch
2012
` |n H||||on
A$ AT 31st Harch
2011
` |n H||||on
0|reclors 1.23 -
Tota| 1.23 -
N0TE 15 0ThEP N0N 6uPPENT A$$ET$
Part|cu|ars A$ AT 31st
Harch 2012
A$ AT 31st
Harch 2011
` |n H||||on ` |n H||||on
Accrued lnterest 0n EmpIcyees Lcan scheme 21.40 13.04
TctaI 21.40 13.04
N0TE 1ê 6uPPENT |NVE$THENT$
Non Trade
|nvestment |n government secur|t|es : unquoted at cost
Iº 00| 0|| ßonds,2012 2/2./8 2/2./8
(2/,2/8 oords ol ` 10,000 eac| lu||y pa|d (Prev|ous year ` 10,000 eac|))
Tota| 2I2.I8 2I2.I8
Note 1I |NVENT0P|E$
Part|cu|ars A$ AT 31st Harch 2012 A$ AT 31st Harch 2011
` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on
RaW Valer|a|s 19,430.50 /,382.23
RaW Valer|a| |r lrars|l 35,1/9.34 54,o09.84 12,035.34 19,41/.5/
wor|-|r-progress 1,9o1.45 2,414./9
F|r|s|ed goods 19,92/.90 1/,9/2.51
Less : Prov|s|or lor Sloc| Loss 5.91 19,921.99 o.98 1/,9o5.53
Slores ard spares 1,o38.8/ 1,218.08
Slores ard spares |r lrars|l 129.09 43.9/
Less : Prov|s|or lor S|oW/|or Vov|rg lrverlor|es 85.48 1,o82.48 8o.10 1,1/5.95
Tota| I8,1I5.Iê 40,9I3.84
N0TE 18 TPA0E PE6E|VAßLE$
Trade Pece|vab|es [unsecured) A$ AT 31st
Harch 2012
A$ AT 31st
Harch 2011
` |n H||||on ` |n H||||on
0ue lor a per|od |ess l|ar s|x rorl|s
Cors|dered good 32,205.o0 23,o45.5/
Cors|dered douollu| 12.o2 20.43
Less: Prov|s|or lor douollu| deols 12.o2 20.43
32,205.o0 23,o45.5/
0ue lor a per|od exceed|rg s|x rorl|s
Cors|dered good 2,38/.0o 1,o55.23
Cors|dered douollu| o1/.33 o40.22
Less: Prov|s|or lor douollu| deols o1/.33 o40.22
2,38/.0o 1,o55.23
Tota| [Pefer note a) 34,592.êê 25,300.80
2o
Annua| Peport 2011-12
A$ AT 31st
Harch 2012
A$ AT 31st
Harch 2011
|oles ` |n H||||on ` |n H||||on
a Aoove |rc|udes ` /80.00 V||||or (Prev|ous year ` 420.92 V||||or) oac|ed oy 6ar| 0uararlee.
Trade Rece|vao|e slaled aoove |rc|ude deols due oy:
Pr|vale Corpary |r W||c| 0|reclor ol l|e corpary |s a 0|reclor 40/./3 283.12
40/./3 283.12
N0TE 19 6A$h AN0 ßANK ßALAN6E$
Part|cu|ars A$ AT 31st Harch 2012 A$ AT 31st Harch 2011
` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on
19.1 6ash & 6ash Equ|va|ents
ßa|ances w|th ßanks
Currerl Accourls 9.89 2.45
0epos|l Accourls : uplo 3 Vorl|s Valur|ly 1o,4o9.42 1o,4/9.31 4,1/0.00 4,1/2.45
Cas| or lard |rc|ud|rg lrpresl (Reler |ole a) 0./8 0.20
lrveslrerl |r uTl Vulua| Furds - 525.45
19.2 0ther ßank ba|ances
0epos|l Accourls : oeyord 3 lo 12 rorl|s ralur|ly 5,o90.00 12,000.00
urpa|d lrleresl or deoerlures Accourl 0.19 0.19
urpa|d 0|v|derd Accourl 155./9 12/./4
Erp|oyee 6erevo|erl Furd 4.8/ 4.24
0epos|l W|l| 6ar|s as secur|ly depos|l ard as secur|ly aga|rsl l|e
oorroW|rg
1o.22 5,8o/.0/ /,84o.21 19,9/8.38
22,34I.1ê 24,êIê.48
|oles
lrc|udes 0o|d Co|rs va|ued ` 0.0o V||||or (Prev|ous year ` 0.01 V||||or)
N0TE 20 $h0PT TEPH L0AN$ AN0 A0VAN6E$
[unsecured and 6ons|dered good un|ess and otherW|se stated)
Part|cu|ars A$ AT
31.03.2012
` |n H||||on
A$ AT
31.03.2011
` |n H||||on
20.1 To re|ated party
0l|er Advarces 25.0o -
20.2 To others
6a|arce W|l| Cuslor, Porl, Trusl elc. 3,0o3.05 3,/10.o4
Secur|ly 0epos|ls W|l| Cuslorer /.52 /.52
Advarce lo Erp|oyees o4.3/ 30.04
0l|er 0epos|ls 2,o01.20 2,834.42
Tota| 5,Iê1.20 ê,582.ê2
Advarce lo Erp|oyees slaled aoove |rc|udes :
0l|er oll|cers ol l|e Corpary 0.43 0.4/
Tota| 0.43 0.4I
N0TE 21 0ThEP 6uPPENT A$$ET$
0l|er currerl assels
lrleresl Accrued oul rol due or F|xed 0epos|ls 218.32 2I1.39
C|a|r Rece|vao|e lror lrsurarce Corpary 0.02 ê3.2ê
lrcore Tax Pa|d urder 0|spules 1,000.92 244.51
Tota| 1,219.2ê 5I9.1ê
2/
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
N0TE 22 PEVENuE FP0H 0PEPAT|0N$ ` |n H||||on
Part|cu|ars For the year
ended
31.03.2012
For l|e year
erded
31.03.2011
22.1 $a|e of products 5I2,0êI.55 43I,23ê.5ê
22.2 0ther operat|ng revenues
Sa|e 0l Scrap 21.43 33.o0
lrcore Fror Rela|| 0ul|el 0.o/ 2.21
0epulal|or Serv|ces lo ol|er Corpary - o.8/
Terder lorr Sa|e 0./9 0.91
L|qu|daled 0arages 38.2/ 9./0
Taxao|e Serv|ces 8.1/ 14./2
Tota| ê9.33 ê8.01
Tota| 5I2,13ê.88 43I,304.5I
N0TE 23 0ThEP |N60HE
23.1 |nterest |ncome
0r 6ar| 0epos|l (Tax 0educled al Source ` 2/4.25 V||||or (Prev|ous Year ` 219.2o V||||or) 2,58o.34 1,293.89
0r lrler Corporale 0epos|l (Tax 0educled al Source ` 18.40 V||||or (Prev|ous Year |||) 184.03 -
0r |VPT Loar (Tax 0educled al source ||| (Prev|ous Year ` 0.o/ V||||or) - o.o8
Fror 0|recl Var|el|rg Cuslorer 4/./8 24.84
0r Corlraclor Voo|||sal|or Advarce /1.8/ 1o1.o9
0r Erp|oyees Loar Sc|ere 11.94 8.40
0r 0|| 6ords 19.09 19.09
0r 0l|ers 0./5 0.08
Tota| 2,921.80 1,514.êI
23.2 0|v|dend |ncome
0|v|derd rece|ved or uTl lrveslrerls 319.4ê 334.01
23.3 0ther non-operat|ng |ncome
L|ao|||ly ro |orger requ|red Wr|ller oac| 28.10 //.51
Excess Prov|s|ors Wr|ller oac| 33.00 123.85
Recover|es lror Erp|oyee 4.32 3.4/
lrsurarce C|a|r 88.4o -
V|sce||areous Rece|pls /8.o2 50.32
Tota| 232.50 255.15
Tota| 3,4I3.Iê 2,103.83
N0TE 24 |N6PEA$E [-) | 0E6PEA$E |N $T06K
24.1 6|os|ng $tock of:
F|r|s|ed 0oods 19,92/.90 1/,9/2.51
lrlerred|ale Sloc| 1,9o1.45 2,414./9
Tota| 6|os|ng $tock 21,889.35 20,38I.30
24.2 0pen|ng $tock of:
F|r|s|ed 0oods 1/,9/2.51 11,143.o/
lrlerred|ale Sloc| 2,414./9 1,090.92
Tota| 0pen|ng $tock 20,38I.30 12,234.59
|ncrease [-) | 0ecrease |n $tock -1,502.05 -8,152.I1
N0TE 25 EHPL0YEE ßENEF|T EXPEN$E$
Sa|ar|es ard wages 1,234.90 1,450.o/
Corlr|oul|or lo Prov|derl ard 0l|er Furds 149.99 1o/.35
Slall we|lare Experses /o.81 o8.28
Prov|s|or lor Leave /o.44 8/.21
Prov|s|or lor 0ralu|ly 32.o5 /1.2o
Prov|s|or lor Posl - Rel|rererl, Ved|ca| ard ol|er |org lerr oerel|ls 35.o3 0.58
Tota| 1,o0o.42 1,845.35
28
Annua| Peport 2011-12
Part|cu|ars For the year
ended
31.03.2012
For l|e year
erded
31.03.2011
N0TE 2ê F|NAN6E 60$T
|nterest expense 1,332.2o 1,039.1o
0ther borroW|ng costs 5o1.10 /.38
Net[0a|n)| Loss on Fore|gn 6urrency transact|ons and trans|at|on
Exc|arge (ga|r)/ |oss (rel) 1/3.41 -
Tota| 2,0êê.II 1,04ê.54
N0TE 2I 0EPPE6|AT|0N AN0 AH0PT|$AT|0N EXPEN$E
0r Targ|o|e Assels 4,309.03 3,8o0.5o
0r lrlarg|o|e Assels 29./0 53.o3
Tota| 4,338.I3 3,914.19
N0TE 28 0ThEP EXPEN$E$
Part|cu|ars For the Year ended 31.03.2012 For the Year ended 31.03.2011
` |n H||||on ` |n H||||on
28.1 0ther Expenses
PoWer & Fue| 2/,/o9.09 20,34o.93
Less : 0Wr Corsurpl|or 2/,o49.3/ 119./2 20,22o./2 120.21
Repa|rs ard Va|rlerarce
P|arl ard Vac||rery /90.49 /28.53
6u||d|rg 34.o3 9.3/
0l|ers 1/3.91 999.03 121.8/ 859.//
Slores, Spares ard C|er|ca| Corsured 950.11 /3/.39
Less : S|oWr urder 0l|er leads 413.19 53o.92 290.33 44/.0o
Pac||rg Valer|a| Corsured 91.3/ 85.o0
Rerl 5/.8o o2./1
lrsurarce 91.59 /5.31
Rales ard Taxes 523./5 o10.42
Exc|se 0uly or Sloc| (|el) -o0o.1o -118.0o
Exc|arge Rale F|uclual|or Loss o,482.20 -184.48
0|reclor's S|ll|rg Fees 0.80 0.8o
Loss or Sa|e ol F|xed Assels 11.3/ /.34
V|sce||areous Experses /o5.1/ o85./o
Tota| 9,0/3.o2 2,o52.50
28.2 Prov|s|on and wr|te 0ffs
For 0ouollu| 0eols - 10o.53
For S|oW/|or Vov|rg lrverlory 1.o8 0.39
Tota| 1.o8 10o.92
28.3 Pr|or Per|od |tems [Net)
0eprec|al|or(|el) 55.0/ 1o.11
Repa|rs ard Va|rlerarce o./5 -
Rerl - 0.34
Sa|ary & wages 0.8o -32.49
V|sce||areous Experses -1.o5 -1.48
Sa|es 2.0o 13.28
0l|ers -41.2/ -0.00
Tota| 21.82 -4.24
29
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
Part|cu|ars For the Year ended 31.03.2012 For the Year ended 31.03.2011
` |n H||||on ` |n H||||on
0rand Tota| [28.1+28.2+28.3) 9,09/.12 2,/55.18
N0TE 29 EAPN|N0$ PEP E0u|TY $hAPE
Part|cu|ars For the Year
ended 31.03.2012
For the Year
ended 31.03.2011
Numerator : Net Prof|t [` |n H||||on)
6as|c 9,085./8 11,/oo.33
0||uled 9,085./8 11,/oo.33
0enom|nator : Average number of Equ|ty $hares outstand|ng dur|ng the year
6as|c 1,/52,598,/// 1,/52,598,///
0||uled 1,83/,898,o33 1,895,408,012
Nom|na| va|ue Per $hare
Earn|ngs Per $hare [|n ` )
6as|c (`) 5.18 o./1
0||uled (`) 4.94 o.21
Peconc|||at|on of ßas|c and 0||uted Earn|ng Per $hare
|el Prol|l ( ` |r V||||or) 9,085./8 11,/oo.33
Add : lrleresl or d||uled porl|or ol |oars (|el ol Tax) ( ` |r V||||or) - -
Tota| 9,085.I8 11,Iêê.33
Average |o ol Equ|ly S|ares 1,/52,598,/// 1,/52,598,///
|uroer ol S|are |r respecl ol |oars |av|rg corvers|or c|ause 85,299,85o 142,809,235
Average |o ol Equ|ly S|ares lor 0||uled Earr|rgs per s|are 1,83/,898,o33 1,895,408,012
Note 30 0ther 0|sc|osures
30.01 Account|ng for Pesearch & 0eve|opment [A$-8)
T|e corpary dur|rg l|e year |as carr|ed oul acl|v|l|es re|al|rg lo sludy
ol Crude Assay, 0rgar|c C||or|de ard PV6 Tesl|rg, lCP-VS ara|ys|s,
lor-C|rorolograp|y as a parl ol |ls R & 0 acl|v|l|es ard |as |rcurred
experd|lure as rerl|ored oe|oW.
[` |n H||||on)
Part|cu|ars Pevenue
Expend|ture
6ap|ta|
Expend|ture
Tota|
R & 0 Experd|lure 2.91 11.25 14.1o
(1.11) (|||) (1.11)
|ole: F|gures |r orac|els represerl prev|ous year l|gure.
30.02 Effects of changes |n Fore|gn Exchange Pates [A$ 11)
Pursuarl lo |ol|l|cal|or ro. 0.S.R.(914)E daled 29l| 0eceroer 2011,
|ssued oy VCA, lror l|e currerl l|rarc|a| year, l|e Corpary |as opled
lo adjusl exc|arge d|llererces ar|s|rg or reporl|rg ol |org lerr lore|gr
currercy rorelary |lers, |r so lar as l|ey re|ale lo l|e acqu|s|l|or ol
deprec|ao|e assels, aga|rsl l|e cosl ol suc| assels ard deprec|ale l|e
sa|d adjuslrerl over l|e oa|arce ||le ol l|e assel. lad l|e opl|or rol
oeer exerc|sed, l|e d|llererce arourl|rg lo ` 2o.14 r||||or or |org lerr
lore|gr currercy rorelary |lers re|al|rg lo deprec|ao|e assels Wou|d
|ave oeer c|arged lo Prol|l ard Loss Accourl ard Cap|la| wor| |r
Progress Wou|d |ave oeer |esser lo l|al exlerl.
30.03 Emp|oyee ßenef|ts [A$-15)
30.03.01 ßr|ef 0escr|pt|on: A genera| descr|pt|on on the type of 0ef|ned
ßenef|t P|ans are as fo||oWs:
a Earned Leave ßenef|t [EL):
Accrua|?32daysperyear
Accuru|al|or up lo 300 days a||oWed
EL accuru|aled |r excess ol 15 days |s a||oWed lor ercas|rerl W|||e |r
serv|ce prov|ded l|e EL ercas|ed |s rol |ess l|ar 5 days.
b $|ck Leave [$L):
Accrua|?10daysperyear
Ercas|rerl W|||e |r serv|ce |s rol a||oWed
Ercas|rerl or rel|rererl |s perr|lled ard erl|re accuru|al|or |s
a||oWed lor ercas|rerl
c 0ratu|ty:
15 days sa|ary lor every corp|eled year ol serv|ce. Vesl|rg per|od |s 5
years ard l|e payrerl |s reslr|cled lo ` 1 r||||or.
d Long $erv|ce Emb|em:
0r corp|el|or ol eac| r||eslore ol serv|ce lror l|e dale ol jo|r|rg
ard a|so al l|e l|re ol rel|rererl, erp|oyees W||| oe g|lled W|l| 0o|d
Co|r, We|g|l deperds or l|e r||eslore ol serv|ce corp|eled.
30
Annua| Peport 2011-12
e Post Pet|rement Hed|ca| ßenef|ts:
Aller rel|rererl, or payrerl ol ore l|re |urp sur corlr|oul|or,l|e
superarualed erp|oyee ard ||s/|er deperderl spouse ard
deperderl parerls W||| oe covered lor red|ca| oerel|l as per l|e
ru|es ol l|e Corpary.
f Pet|rement ßenef|ts:
Al l|e l|re ol superarrual|or, erp|oyees are erl|l|ed lor
re|roursererl ol experses loWards lrave|, lrarsporlal|or ol persora|
ellecls lror l|e|r p|ace ol rel|rererl lo l|e reW |ocal|or uplo cerla|r
||r|ls deperd|rg or l|e des|gral|or ol l|e erp|oyee al l|e l|re ol
rel|rererlardorerorl|'ssa|aryassell||rga||oWarce.
30.03.02 The fo||oW|ng contr|but|ons to 0ef|ned 6ontr|but|ons P|ans are
treated as expenses dur|ng the year:
[` |n H||||on)
0ef|ned 6ontr|but|on
P|an
Expenses
recogn|sed
dur|ng 2011-12
6ontr|but|on to
Key Hanagement
Personne|
Erp|oyer'scorlr|oul|orlo
Prov|derl Furd
92.99
(120.5/)
[45.24|
0.4/
(0.33)
[0.21|
Erp|oyer'scorlr|oul|orlo
Superarrual|or Furd
55.0/
(44.o8)
[3/.43|
0.59
(0.41)
[0.2/|
30.03.03 The amount recogn|sed |n the ßa|ance $heet for next Emp|oyment
ßenef|t P|ans are as fo||oW:
[` |n H||||on)
$|
No.
Part|cu|ars 0ratu|ty
[Funded)
Post
Pet|rement
Hed|ca| ßenef|t
[unfunded)
0ther
Pet|rement
ßenef|ts
[unfunded)
1 Preserl va|ue ol
Furded 0o||gal|or
294.21
(254.34)
[1/5.15|
- -
2 Fa|r Va|ue ol P|ar
Assel
2o1.55
(183.09)
[144.3o|
- -
3 Preserl Va|ue
ol urlurded
0o||gal|or
- 35.o0
(1o./4)
[1o./4|
o.o1
(o.04)
[o.28|
4 urrecogr|sed Pasl
Serv|ce Cosl
- - -
5 |el L|ao|||ly 32.oo
(/1.25)
[30./9|
35.o0
(1o./4)
[1o./4|
o.o1
(o.04)
[o.28|
30.03.04 The amount |nc|uded |n the fa|r va|ue of p|an assets of gratu|ty
fund are as fo||oWs:
0ef|ned 6ontr|but|on P|an 2011-12 2010-11 2009-10
Reporl|rg Erlerpr|se's oWr l|rarc|a|
|rslrurerls
||| (|||) [||||
Ary Properly occup|ed oy, or ol|er
assels used oy l|e reporl|rg erlerpr|se
||| (|||) [||||
30.03.05 Peconc|||at|on shoW|ng the movements dur|ng the per|od |n the
net ||ab|||ty recogn|sed |n the ba|ance sheet:
[` |n H||||on)
$|.
No.
Part|cu|ars 0ratu|ty
[Funded)
Post
Pet|rement
Hed|ca|
ßenef|ts
0ther
Pet|rement
ßenef|ts
1 0per|rg del|red
oerel|l oo||gal|or
254.34
(1/5.15)
[135.2/|
1o./4
(1o./4)
[8.08|
o.04
(o.28)
[5.o4|
2 Serv|ce Cosl 20.81
(15.25)
[12.55|
18.3o
(1.01)
[0.4o|
0.19
(0.1/)
[0.13|
3 lrleresl Cosl 20.98
(14.93)
[11.41|
1.38
(1.35)
[0.o4|
0.50
(0.4o)
[0.44|
4 Acluar|a| Losses /
(0a|rs)
8.89
(5o.o3)
[1o.94|
-0.o5
(-0./2)
[8.13|
0.14
(0.4o)
[0.21|
5 L|ao|||ly lrarsler |r 0.3o
|||
[0.12|
- -
o 6erel|ls pa|d -11.18
(-/.o2)
[-1.14|
-0.23
(-1.o4)
[-0.58|
-0.2o
(-1.33)
[-0.14|
/ C|os|rg del|red
oerel|l oo||gal|or
294.21
(254.34)
[1/5.15|
35.o0
(1o./4)
[1o./4|
o.o1
(o.04)
[o.28|
30.03.0ê The tota| expenses recogn|sed |n the statement of prof|t and |oss
are as fo||oWs:
[` |n H||||on)
$|
No.
Part|cu|ars 0ratu|ty
[Funded)
Post
Pet|rement
Hed|ca|
ßenef|ts
0ther
Pet|rement
ßenef|ts
1 Currerl Serv|ce
Cosl
20.81
(15.25)
[12.55|
1.13
(1.01)
[0.4o|
0.20
(0.1/)
[0.13|
2 lrleresl or
oo||gal|or
20.98
(14.93)
[11.41|
1.38
(1.35)
[0.o4|
0.50
(0.4o)
[0.44|
3 Expecled relurr or
p|ar assels
-1o.48
(-15.42)
[-10./8|
- -
4 |el acluar|a|
|osses / (ga|rs)
recogr|sed |r l|e
year
4.82
(5o.50)
[1/.o1|
-0.o4
(-0./2)
[8.13|
0.14
(0.4o)
[0.21|
5 Pasl Serv|ce Cosl -
(-)
[-|
1/.22
(-)
[-|
-
(-)
[-|
o Losses / (0a|rs)
or curla||rerls
ard sell|ererls
- - -
/ Tola| |rc|uded |r
'erp|oyeeoerel|l
experses'.
30.13
(/1.2o)
[30./9|
19.09
(1.o4)
[9.23|
0.84
(1.09)
[0./8|
8 Aclua| relurr or
p|ar assels
20.55
(15.5o)
[10.11|
- -
31
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
30.03.0I $tatement of Peconc|||at|on of ba|ance of Fa|r va|ue of P|an Assets
|n respect of 0ratu|ty :-
[` |n H||||on)
$|
No.
Part|cu|ars 31.03.2012 31.03.2011 31.03.2010
1 Fa|r Va|ue ol P|ar
Assels al l|e
oeg|rr|rg ol l|e
per|od
183.09 144.3o 81.5
2 Expecled relurr or
p|ar assels
1o.48 15.42 10./8
3 Corlr|oul|ors o8./4 30./9 53./o
4 Trarsler lror ol|er
Corpary
0.3o ||| 0.12
5 (Trarsler lo ol|er
Corpary)
||| ||| |||
o (6erel|l Pa|d) (11.18) (/.o2) (1.14)
/ Acluar|a| ga|rs/
(|osses) or P|ar
Assels
4.0/ 0.14 (0.o/)
8 Fa|r Va|ue ol P|ar
Assels al l|e erd ol
l|e per|od
2o1.55 183.09 144.3o
30.03.08 0ther d|sc|osures
[` |n H||||on)
0ratu|ty 31.03.2012 31.03.2011 31.03.2010 31.03.2009 31.03.2008
Preserl va|ue ol
Furded oo||gal|or
as al l|e erd ol l|e
per|od
294.21 254.34 1/5.15 140.25 /8.41
Fa|r va|ue ol p|ar
assels as al l|e erd
ol l|e per|od
2o1.55 183.09 144.3o 81.5 5o.2/
Surp|us/(0el|c|l) 32.oo /1.25 30./9 58./5 22.14
Exper|erce
Adjuslrerl or p|ar
||ao|||l|es |oss/(ga|rs)
24.33 o5.3/ 22.95 -4.o4 10.o4
Exper|erce
Adjuslrerl or p|ar
assels (|oss) /ga|rs
4.0/ 0.14 (0.o/) 0.98 0
Posl rel|rererl
Ved|ca| 6erel|ls
31.03.2012 31.03.2011 31.03.2010 31.03.2009 31.03.2008
Preserl va|ue ol
urlurded oo||gal|or
as al l|e erd ol l|e
per|od
35.o0 1o./4 1o./4 8.08 o./8
Exper|erce
Adjuslrerl or p|ar
||ao|||l|es (|oss)/ga|r
1.29 -0.28 8.o4 0.3o -0.44
0l|er Rel|rererl
6erel|ls
31.03.2012 31.03.2011 31.03.2010 31.03.2009 31.03.2008
Preserl va|ue ol
urlurded oo||gal|or
as al l|e erd ol l|e
per|od
o.o1 o.04 o.28 5.o4 5.15
Exper|erce
Adjuslrerl or p|ar
||ao|||l|es (|oss)/ga|r
0.28 0.5o 0./9 0.45 0.4o
30.03.09 Pr|nc|pa| actuar|a| assumpt|ons at the ba|ance sheet date
[expressed as We|ghted averages):
$|.
No.
Part|cu|ars 0ratu|ty
[Funded)
Post
Pet|rement
Hed|ca|
ßenef|ts
0ther
Pet|rement
ßenef|ts
1 0|scourl Rale 8./5º
(8.25º)
[8.00º|
8./5º
(8.25º)
[8.00º|
8./5º
(8.25º)
[8.00º|
2 Expecled relurr
or p|ar assels
prev|ous
9.00º - -
3 Expecled relurr or
p|ar assels Currerl
9.00º - -
4 Arrua| |rcrease |r
prer|ur ol red
c|a|r po||cy
- |A
(5.00º)
[5.00º|
-
5 Arrua| |rcrease |r
Sa|ary
5.00º
(5.00º)
[5.00º|
- 5.00º
(5.00º)
[5.00º|
30.03.10 0ratu|ty [Funded) 0ef|ned ßenef|t 0b||gat|on - 6ategory of P|an
Assets
[` |n H||||on)
$|.
No.
Part|cu|ars 2011-12 2010-11 2009-10
1 0overrrerl ol lrd|a
6ords
129.9o 88.18 o/.54
49.o9º 48.1/º 4o./9º
2 Corporale 6ords 120.83 88.48 /3.08
4o.20º 48.32º 50.o2º
3 0l|ers 10./o o.43 3./4
4.11º 3.51º 2.59º
Tola| 2o1.55
100.00º
183.09
100.00º
144.3o
100.00º
30.03.11 $ens|t|v|ty of Post Pet|rement Hed|ca| Expenses
[` |n H||||on)
$|.
No.
Part|cu|ars 2011-12 2010-11 2009-10
1 C|arge |r L|ao|||ly
lor 1º |rcrease |r
d|scourl rale
-1./1 -0.80 -0.80
2 C|arge |r L|ao|||ly
lor 1º decrease |r
d|scourl rale
1.94 0.91 0.91
3 C|arge |r Serv|ce
Cosl lor 1º |rcrease |r
d|scourl rale
-0.0o -0.0o -0.0o
4 C|arge |r Serv|ce Cosl
lor 1º decrease |r
d|scourl rale
0.12 0.12 0.12
|ole: F|gures |r parerl|es|s ( ) represerls l|gure ol 2010-11 ard [ |
represerls l|gures ol 2009-10
32
Annua| Peport 2011-12
30.04 ßorroW|ng 6osts [A$-1ê)
Arourl ol oorroW|rg cosls cap|la||sed dur|rg l|e year ` 889.5o r||||or
( Prev|ous year |||)
30.05 $egment Peport|ng [A$ 1I)
T|e Corpary |s ergaged |r l|e ous|ress ol rel|r|rg crude o||, a||
acl|v|l|es ol l|e Corpary revo|ve arourd l||s ous|ress ard l|e
operal|ors are |r lrd|a. As suc| l|ere |s ro ol|er reporlao|e segrerl
asdel|redoyl|eAccourl|rgSlardard1/?SegrerlReporl|rg|ssued
urder T|e Corpar|es (Accourl|rg Slardards ) Ru|es, 200o. T|e
c|ar|l|cal|or soug|l lor oy l|e Corpary or l|e EAC op|r|or |s urder
cors|deral|or oy lCAl ard |erce segrerl reporl|rg |s rol rade.
30.0ê Pe|ated Party 0|sc|osure [A$-18)
30.0ê.01 T|e Corpary |s a slale corlro||ed erlerpr|se ard l|e lrarsacl|ors W|l|
ol|er slale corlro||ed erlerpr|ses are rol requ|red lo oe d|sc|osed as
per AS-18.
30.0ê.02 Key Hanagement Personne|:
(|) S|r|. u.K.6asu, Varag|rg 0|reclor
(||) S|r| P.P.upad|ya, 0|reclor (Tec|r|ca|)
(|||) S|r| V|s|ru AgraWa|, 0|reclor (F|rarce)
30.0ê.03 Pe|ated Party deta||s:
[` |n H||||on)
Part|cu|ars 0N06
Hanga|ore
Petrochem|ca|s
L|m|ted
$he|| HPPL
Av|at|on Fue|s
& $erv|ces
Pvt. L|m|ted
Hanga|am
Peta||
$erv|ces
L|m|ted
Hanga|ore
$EZ
L|m|ted
Petronet
Hhß
L|m|ted
Re|al|ors||p Assoc|ale Jo|rl Verlure Jo|rl
Verlure
Assoc|ale Assoc|ale
Sa|e ol Producls |||
(|||)
4,o4/.31
(245/.04)
|||
(|||)
|||
(|||)
|||
(|||)
Trarsporlal|or c|arges
payao|e
|||
(|||)
|||
(|||)
|||
(|||)
|||
(|||)
-3/.9o
(124.34)
Re|roursererl ol
experd|lure oy VRPL
|||
(/9.50)
|||
(|||)
|||
(|||)
-2.38
(1o1.o8)
|||
(|||)
Sa|ary ard ol|er
eslao||s|rerl re|aled
experses |rcurred oy
VRPL re|roursao|e oy JV/
Assoc|ale.
18.40
(3o.50)
0./8
(1.44)
|||
(|||)
3.82
(9.54)
24.08
(188.35)
Advarce aga|rsl Equ|ly
|rveslrerl |r JV /
Assoc|ales
599.99
(599.99)
|||
(|||)
1.00
(1.00)
|||
(|||)
|||
(|||)
Arourl rece|vao|e as or
31sl Varc| 2012.
25.0o
(|||)
408.4/
(2/2.13)
|||
(|||)
844.23
(/12.42)
|||
(|||)
Arourl payao|e as or 31sl
Varc|, 2012.
|||
(2/.42)
|||
(|||)
|||
(|||)
|||
(|||)
8.55
(83.09)
|ole : F|gures |r orac|els represerl prev|ous year l|gure.
30.0I Leases [A$-19)
30.0I.01 T|e corpary |as la|er var|ous prer|ses urder carce||ao|e operal|rg
|ease.
30.0I.02 T|ese |ease agreererls are rorra||y rereWed or exp|ry ol l|e lerr.
30.0I.03 Lease rerla| experses lor l|e year erded 31
sl
Varc|, 2012 |r respecl
ol aoove operal|rg |eases are ` 34./5 V||||or (pre. year ` 44.22 V||||or)
30.08 Account|ng for taxes on |ncome[A$-22)
30.08.01 T|e corpary |as correrced correrc|a| rel|r|rg ol crude o|| lror
|ls P|ase lll rel|rery dur|rg l|e year ard accord|rg|y |s erl|l|ed lo l|e
deducl|or u/s 80 l6 ol l|e lrcore Tax Acl,19o1.
30.09 F|nanc|a| Peport|ng of |nterests |n Jo|nt Ventures [A$-2I)
[` |n H||||on)
Part|cu|ars $he|| HPPL Av|at|on Fue|
$erv|ces Pvt. L|m|ted
Hanga|am Peta||
$erv|ces L|m|ted
Proporl|or ol l|e oWrers||p
|rleresl
50º 45º
Courlry ol |rcorporal|or lrd|a lrd|a
Aggregate amount of |nterest |n
Jo|ntVenture[HPPL'sshare)
2011-12
[Aud|ted)
2010-11
[Aud|ted)
2011-12 * un
aud|ted $ee
Note be|oW
2010-11
[Aud|ted)
Assels 8o4.98 1,05/.99 0.91 0.91
L|ao|||l|es o12.15 852.95 0.01 0.01
lrcore 2o35.55 1455.59 - |||
Experd|lure |rc|ud|rg Tax
Experses
2,5/0.33 1,400.85 - 0.01
Corl|rgerl L|ao|||l|es ||| ||| - |||
Cap|la| Corr|lrerls ||| ||| - |||
¯ T|ere |s ro lrarsacl|or |r l||s corpary dur|rg l|e year 2011-12
30.10 Prov|s|ons, 6ont|ngent L|ab|||t|es and 6ont|ngent Assets [A$ -29)
30.10.01 Hovement |n Prov|s|ons
[` |n H||||on)
Year 2011-12 2010-11
Part|cu|ars 0ebtors 0thers 0ebtors 0thers
0per|rg 6a|arce oo0.o5 98.25 o0/.50 9/.85
Add : Prov|s|or rade
dur|rg l|e year
- 1.o8 10o.53 0.40
Less: Prov|s|or Wr|ller
oac| / rec|ass|l|ed /
reducl|or dur|rg year
30./0 3.38 53.38 -
C|os|rg 6a|arce o29.95 9o.55 oo0.o5 98.25
30.11 Prov|s|ons, 6ont|ngent
L|ab|||t|es and 6ont|ngent
Assets [A$ -29)
30.11.01 Emp|oyee ßenef|ts
[` |n H||||on)
Year 2011-12 2010-11
Part|cu|ars Leave 0ther
benef|ts
Leave 0ther
benef|ts
0per|rg 6a|arce 243.81 41.o8 180.38 42.20
Add : Prov|s|or rade
dur|rg l|e year
/o.44 3o.49 8/.20 0.59
Less: Prov|s|or Wr|ller
oac| / rec|ass|l|ed /
reducl|or dur|rg year
30.0o 2.05 23.// 1.11
C|os|rg 6a|arce 290.19 /o.12 243.81 41.o8
33
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
30.11.02 6ont|ngent L|ab|||t|es not prov|ded for |n respect of :
a Corporale 0uararlee g|ver oy l|e Corpary loWards |oar ol ` 3,3/2.30 V||||or
sarcl|ored oy cerla|r oar|ers / l|rarc|a| |rsl|lul|ors lo |eW Varga|ore Porl Trusl
(|VPT) lor corslrucl|or ol Jell|es. Arourl oulslard|rg as al l|e c|ose ol l|e year
erded 31
sl
Varc|, 2012, aller adjusl|rg l|e repayrerl rade oy |VPT |s ` |||
(Prev|ous Year ` |||).
b C|a|rs aga|rsl l|e Corpary rol ac|roW|edged as deol :
[` |n H||||on)
$r.
No.
Part|cu|ars As on
31.03.2012
As on
31.03.2011
1 C|a|rs ol Corlraclors / verdors |r Aro|lral|or
/ Courl
Sore ol l|e corlraclors lor supp|y ard |rsla||al|or
ol equ|prerl |ave |odged c|a|rs or l|e corpary
see||rg rev|s|or ol l|re ol corp|el|or W|l|oul
||qu|daled darages, exlerded slay corpersal|or
ard exlra c|a|rs elc., W||c| are corlesled oy
l|e corpary as rol adr|ss|o|e |r lerrs ol l|e
prov|s|ors ol l|e respecl|ve corlracls. lr case ol
urlavourao|e aWards l|e arourl payao|e Wou|d
oe cap|la||sed ` 30o./3 r||||or / Re|roursao|e `
3/.o3r||||or[Prev|ousyear` 314./4 r||||or ard
`3/./3r||||orrespecl|ve|y|
344.3o 352.4/
2 C|a|rs / courler c|a|rs ol Cuslorers
(a) T|e corpary |ad gore |rlo ar |rlerral|ora|
aro|lral|or al Lordor aga|rsl ore ol |ls exporl
cuslorers. T|e aro|lral|or Tr|oura| |as d|sr|ssed
l|e corpary's c|a|rs re|al|rg lo l|roug|pul |oss
ard ror-lu|| l|||rerl ol corlraclua| oo||gal|ors ard
|asorderedl|ecorparylooearl|ecuslorer's
advocale cosl a|org W|l| relurd ol parl ol ad|oc
arourl pa|d oy l|e cuslorer a|org W|l| |rleresl.
T|e corpary |as prelerred ar appea| |r l|e
Vuroa| l|g| Courl aga|rsl l||s aro|lra| aWard. lr
case ol urlavourao|e aWard l|e arourl payao|e
Wou|d oe deo|led lo Prol|l & Loss Accourl.
18.85 1o.1/
(o) 0re ol l|e cuslorers |as |odged a c|a|r lor
darages lor pre-c|osure ol l|e corlracl. T|e
corpary |as d|spuled l|e c|a|r oas|s Force
Vajure cord|l|or. lr case ol ror acceplarce ol
l|e slard la|er oy l|e corpary l|e arourl W|||
oe deo|led lo l|e Prol|l & Loss accourl.
85.20 85.20
3 0l|ers
(a) T|e |eW Varga|ore Porl Trusl (|VPT) |as
c|a|red lror l|e corpary rol|l|ed W|arlage
c|arges lor |ard||rg cargo al o|| oerl|s. T|e
corpary |as c|a|red l|al Verorardur ol
urderslard|rg, or corp|el|or prov|des lor
rulua||y agreeao|e rale suojecl lo V|r|slry
ol S||pp|rg approva|. T|e |ssue |s oelore l|e
V|r|sler ol S||pp|rg. T|e d|llererl|a| arourl
oelWeer l|e rol|l|ed W|arlage rale ard l|e
W|arlage rale oe|rg pa|d oy l|e corpary, |l
ary, W||| oe deo|led / cred|led lo l|e Prol|l & Loss
Accourl |r l|e year ol suc| sell|ererl.
1,288.0/ o0o.42
(o) T||s represerls l|e polerl|a| ||ao|||ly W||c| l|e
corpary |as urderla|er loWards re|roursererl
lo |essors |r case ol ary ||ao|||ly |r l|e|r respecl|ve
lax assessrerls. lr case ol ary c|a|r oy |essors
l|e sare W||| oe deo|led lo Prol|l & Loss Accourl.
133.o/ 133.o/
(c) T|e c|a|r ol Varga|ore SEZ Lld. over ard aoove
l|e advarce pa|d lor |ard ard re|ao|||lal|or &
resell|ererl Wor|.
3/.43 -
Tota| 1,90I.58 1,193.93
lr respecl ol a|| l|ese c|a|rs, W||c| are oe|rg corlesled oy l|e corpary as rol adr|ss|o|e, |l
|s rol pracl|cao|e lo ra|e a rea||sl|c esl|rale ol l|e oull|oW ol resource, |l ary, lor sell|ererl ol
suc| c|a|r perd|rg reso|ul|or / aWard lror Aro|lralors / Courl.
30.11.03 0|sputed tax | 0uty demands pend|ng |n appea|:
a) lrcore Tax: ` 1123.40 V||||or (Prev|ous Year ` 3/3.90 V||||or).
(aga|rsl l||s ` 1000.92 V||||or |s adjusled / pa|d urder prolesl ard
|s |rc|uded urder |oars & advarces. |ole 21)
b) Correrc|a| Tax: ` 321.49 V||||or (Prev|ous Year ` 121/.84
V||||or) ? |rc|udes ` 321.49 V||||or (Prev|ous Year ` 524.8/
V||||or) re|al|rg lo projecls.
c) Exc|se 0uly: ` 488.10 V||||or (Prev|ous Year ` 3o0.2o V||||or).
(aga|rsl l||s ` 2/.01 V||||or |s pa|d urder prolesl ard |s |rc|uded
urder |oars & advarces |ole -20)
d) Cuslors 0uly: ` o4/.54 V||||or (prev|ous year ` 130.19 V||||or).
30.11.04 a) T|e esl|raled arourl ol corlracls rera|r|rg lo oe execuled
or cap|la| accourl ard rol prov|ded lor (rel ol advarces)
` 31,185.31 V||||or (Prev|ous Year ` 5/,52/./o V||||or).
b) 0l|er corr|lrerls
|) EC6 Loar lo oe ava||ed uS0 200 r||||or
||)0|0C Loar lo oe ava||ed ` 24000 r||||or
|||)Perd|rg corr|lrerl or accourl ol Rel|rery perlorrarce
|rprovererl prograrre oy V·s.S|e|| 0|ooa| lrlerral|ora|
So|ul|or
(V·s.S|e|| 0lS) uS0 0.50 V||||or uS0
30.12 Fore|gn Exchange exposures
30.12.01 Exposures not hedged by 0er|vat|ve |nstruments or otherW|se
[net):
[` |n H||||on)
Part|cu|ars. 2011-2012 2010-2011
Fore|gn
6urrency
Equ|va|ent
Pupees
Fore|gn
6urrency
Equ|va|ent
Pupees
lrporls uS0 2,4/o.18 12/,59/.5o 1,548.58 o9,902.90
Cred|lors uS0 0.03 1.55 0.01 0.32
Exporls uS0 200./9 10,222.22 211.43 9,351.55
Loars uS0 410.00 21,12/.30 ||| |||
30.12.02 Va|ue of |mports on 6|F bas|s:
[` |n H||||on)
Part|cu|ars 2011-2012 2010-2011
Cap|la| 0oods 139o.91 0./o
RaW raler|a|s 4/o,18o.50 30o,59o.89
Slores, Spares & C|er|ca|s 31o.25 o59.35
30.12.03 Expend|ture |n Fore|gn 6urrency: [` |n H||||on)
lrleresl /3.30 |||
0l|ers 85.85 105.34
30.12.04 Earn|ngs |n Fore|gn 6urrency [` |n H||||on)
Exporls (F06 Va|ue) 234,183.24 14o,024./1
0epulal|or ol Spec|a||sls ||| o.8/
34
Annua| Peport 2011-12
30.13 Aud|tor'sPemunerat|on:
As Aud|lor 1.50 1.50
For laxal|or Valers 0.38 0.38
For Corpary |aW Vallers 0.03 0.03
For Cerl|l|cal|or Fees 1.o0 0.85
For ol|er serv|ces 0.20 0.20
Re|roursererl ol Experses 1./1 1.o3
30.14 6onsumpt|on of PaW Hater|a|s, Trad|ng 0oods, $tores, $pares
and 6hem|ca|s
[` |n H||||on)
Part|cu|ars
2011-2012 2010-2011
Va|ue |n `
H||||on
[º) Va|ue |n `
H||||on
[º)
RaW Valer|a|:
Crude 0||
lrporled 444,149.4/ 8o.o9º 320,131.12 8o.01º
lrd|gerous o8,100.0/ 13.29º 51,9o4.o5 13.9oº
CRV6 Vod|l|er
Cosl
lrporled
lrd|gerous 11/.82 0.02º 9/.o0 0.03º
Tota| 512,3êI.35 100.00º 3I2,193.3I 100.00º
Slores, Spares
ard C|er|ca|s
(0ross)
lrporled 40/.0/ 42.84º 382.12 51.82º
lrd|gerous 543.04 5/.1oº 355.2/ 48.18º
Tota| 950.11 100.00º I3I.39 100.00º
30.15 The deta||s about Non-res|dent shareho|ders are as fo||oWs:
Part|cu|ars As on
31.03.12
As on
31.03.11
|uroer ol |or-res|derl s|are|o|ders 20,434 22,415
|o. ol s|ares |e|d oy |or-res|derl
s|are|o|ders
2o,44/,524 28,201,o/5
0|v|derd rer|lled lo |or-res|derl
s|are|o|ders dur|rg l|e year
` 42.42
V||||or
` 33.84
V||||or
30.1ê Loans and Advances :
Loars ard advarces (|ole 20) |rc|ude relurd c|a|rs lor Cuslor 0uly
or projecl |rporls ` 3/8./1.V||||or (Prev|ous year ` 3/8./1V||||or) ard
Correrc|a| Taxes ` 548.48 V||||or (prev|ous year ` 4/o.34 V||||or).
A lurl|er relurd due loWards Correrc|a| Taxes ` 2,884.43 V||||or |s
a|so |rc|uded l|ere|r lor W||c| l|ere |s a ralc||rg ||ao|||ly lo pay lo
cuslorers or rece|pl ol l|e relurd W||c| |s |rc|uded urder ol|er currerl
||ao|||l|es - ||ao|||ly lor slalulory payrerls( |ole 10).
30.1I 6ommerc|a| Tax |ncent|ves:
30.1I.01 The 6ompany, as per the 0overnment of Karnataka not|f|cat|on, |s
ent|t|ed to $a|es Tax deferment |oan as fo||oWs:
Pef|nery
Pro[ect
Amount [` |n H||||on) Ava||ment per|od
P|ase l (3
VVTPA)
400.00 per arrur 11 years lror l|e dale
ol |ssue ol rol|l|cal|or
v|z, 29l| Augusl 1998
P|ase ll (o
VVTPA)
2,500.00 per arrur * 14 years lror l|e dale
ol |ssue ol rol|l|cal|or
v|z., 14l| Augusl 2000
* Car a|so oe ava||ed as exerpl|or ol CST.
30.1I.02 T|e Sa|es lax delerrerl |oar s|oWr urder ursecured Loars (|ole-4
) |rc|udes a sur ol ` 290.1/ V||||or (Prev|ous Year ` 290.1/ V||||or)
re|al|rg lo CST or exc|se duly |rc|uded urder relurd lror Correrc|a|
Tax 0eparlrerl ( |ole 20) lor l|e years 2000-01ard 2001-02, W||c|
Were ear||er pa|d urder prolesl ard are roW oe|rg c|a|red as sa|es lax
delerrerl |oar oy l|e Corpary.
30.18 T|e Corpary |s yel lo rece|ve resporse lor |ls corl|rral|or |ellers
lror sore ol l|e lrade rece|vao|es , Loars ard Advarces ard lrade
payao|es. Recorc|||al|or ard adjuslrerl W||| oe ellecled or rece|pl
ol corl|rral|ors, W||c| |r l|e op|r|or ol l|e raragererl W||| rol oe
s|gr|l|carl.
30.19 Fo||oW|ng expenses are |nc|uded under other heads of expenses
lrsurarce c|arges arourl|rg lo ` 20.22 V||||or (Prev|ous year ` 1/.13
V||||or) re|al|rg lo crude purc|ase ard slall We|lare |as oeer c|arged
urder respecl|ve |eads.
30.20 0ues to H|cro, $ma|| & Hed|um enterpr|ses:
T|e c|ass|l|cal|or ol l|e supp||ers urder V|cro, Sra|| ard Ved|ur
Erlerpr|ses 0eve|oprerl Acl, 200o |s rade or l|e oas|s ol |rlorral|or
rade ava||ao|e lo l|e corpary. T|e Corpary |as re|l|er pa|d ary
|rleresl |r l|e lerrs Secl|or 1o ol l|e aoove sa|d Acl ror ary |rleresl
rera|r urpa|d ard ro payrerls Were rade oeyord l|e 'appo|rled
dale' lo suc| erlerpr|ses dur|rg l|e year erded 31.03.2012. Arourl
oulslard|rg lo l|ese erlerpr|ses lor l|e year erded 31
sl
Varc|, 2012 |s
` ||| (Prev|ous year: ` |||)
30.21 T|e l|rarc|a| slalererls lor l|e year erded Varc|, 31,2011 |ad
oeer prepared as per l|e l|er app||cao|e , pre Rev|sed S|edu|e Vl lo
l|e Corpar|es Acl,195o . Corsequerl lo l|e rol|l|cal|or ol Rev|sed
Sc|edu|e Vl urder l|e Corpar|es Acl,195o, l|e l|rarc|a| slalererls
lor l|e year erded Varc|,31,2012 are prepared as per Rev|sed
Sc|edu|e Vl. Accord|rg|y, l|e prev|ous year's l|gures |ave a|so oeer
rec|ass|l|ed lo corlorr lo l||s year's c|ass|l|cal|or. T|e adopl|or ol
Rev|sed Sc|edu|e Vl lor prev|ous year's l|gures does rol |rpacl
recogr|l|or ard reasurrerl pr|rc|p|es lo||oWed lor preparal|or ol
l|rarc|a| slalererls.
As per our report of even date attached For and on beha|f of the ßoard
For HAhAPAJ N.P.$uPE$h & 6o
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 001931S
For 00PALA|YEP AN0 $ußPAHAN|AN
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 0009o0S
$u0h|P VA$u0EVA
C|a|rrar
6A N P $uPE$h
Parlrer
Veroers||p |o. 021oo1
6A $. $uN0AP
Parlrer
Veroers||p |o. 202/25
u. K. ßA$u
Varag|rg 0|reclor
|eW 0e||| : 23
rd
Vay, 2012 0|NE$h H|$hPA
Corpary Secrelary
V|$hNu A0PAwAL
0|reclor (F|rarce)
35
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
Corporale 0overrarce |s oased or pr|rc|p|es ol corducl|rg ous|ress W|l| a|| |rlegr|ly ard la|rress, oe|rg lrarsparerl W|l| regard lo a|| lrarsacl|ors ra||rg a|| d|sc|osures,
corp|y|rg W|l| |aWs ol |ard, accourlao|||ly ard respors|o|||ly loWards l|e s|are|o|ders ard corr|lrerl lo corducl l|e ous|ress |r ar el||ca| rarrer.
we al VRPL are corr|lled lo good goverrarce pracl|ces l|al creale |org-lerr susla|rao|e va|ue lor |ls sla|e|o|ders. 0ur Corporale 0overrarce lrareWor| |s oased or l|e
lo||oW|rg pr|rc|p|es:
? Ersur|rgrax|rurd|sc|osureol|rlorral|orlol|e6oard/Corr|lleesoll|e6oardlorrear|rglu|ardlocusedd|scuss|ors|rreel|rgs;
? Corr|lledloalrarsparerlsyslerardva|ues;
? 0peral|rg|rasourdsyslerol|rlerra|corlro|W|l|al|ruslor|rlegr|lyardaccourlao|||ly;
? Ersur|rgl|re|yardadequaled|sc|osureola||raler|a||rlorral|orloa||Sla|e|o|ders;
? Ersur|rgcorp||arceolapp||cao|e|aWs,gu|de||res,ru|esardregu|al|ors;
? Corr|lledlorequ|lao|eardla|rlrealrerlloa|||lssla|e|o|dersardsoc|elyal|arge.
1) ß0AP0 0F 0|PE6T0P$:
A) 60HP0$|T|0N 0F 0|PE6T0P$ A$ 0N 31|03|2012
Execul|ve 0|reclors : 3
|or Execul|ve 0|reclors : o
lrc|ud|rg T|ree lrdeperderl 0|reclors)
(|) ß0AP0 0F 0|PE6T0P$ A$ 0N 31.03.2012
0|rector Execut|ve| Non-Execut|ve 6ategory No. of other 0|rectorsh|p No. of outs|de 6omm|ttees
Pub||c Pr|vate Hember 6ha|rman
S|r| Sud||r Vasudeva C|a|rrar |or-Execul|ve ProrolerCorpary's0|reclor / 1 - -
S|r| u.K. 6asu Execul|ve Varag|rg 0|reclor 2 1 - 1
S|r| P.P. upad|ya Execul|ve 0|reclor (Tec|r|ca|) 1 - 1 -
S|r| V|s|ru AgraWa| Execul|ve 0|reclor (F|rarce) 1 1 - -
S|r| V|ve| Kurar |or-Execul|ve 0overrrerl 0|reclor 1 - - 1
S|r| K. Vura|| |or-Execul|ve ProrolerCorpary's0|reclor 5 - - -
0r. A.K.Ral| |or-Execul|ve lrdeperderl 0|reclor 2 - 3 3
S|r|.6 Rav|rdraral| |or-Execul|ve lrdeperderl 0|reclor 3 - 1 -
0r. 0. C|ardrase||arar |or-Execul|ve lrdeperderl 0|reclor 3 1 - 1
ßP|EF PE$uHE 0F ß0AP0 0F 0|PE6T0P$ [0uAL|F|6AT|0N| EXPEPT|$E |N TEPH$ 0F 6LAu$E 49 [0) 0F ThE L|$T|N0 A0PEEHENT)
0|rector ßr|ef Pesume [0ua||f|cat|on| Expert|se) Name of the other 6ompan|es|F|rms Where
0|rectorsh|p he|d
S|r| Sud||r Vasudeva S|r| Sud||r Vasudeva |s a|so C|a|rrar & Varag|rg 0|reclor |r 0|0C. le |s a C|er|ca| Erg|reer ard a Varagererl
0raduale. le jo|red 0|0C as ar execul|ve lra|ree |r l|e l|rsl oalc|, 19/o, ard aller lopp|rg |r l|e oalc| |e Wor|ed ||s Way up,
W|l| rajor|ly ol ||s ass|grrerls |r olls|ore o|| l|e|d. KroWr across 0|0C lor ||s lear raragererl capao|||l|es, S|r| Sud||r
Vasudeva oelore la||rg over as a C & |0 Was 0|reclor olls|ore.
1. 0|| ard |alura| 0as Corporal|or L|r|led.
2. 0|0C V|des| L|r|led.
3. PaWar lars le||coplers L|r|led.
4. 0|0C Pelro- add|l|ors L|r|led.
5. Varga|ore SEZ L|r|led.
ê. 0|0C Tr|pura PoWer Corpary L|r|led.
I. Pelrorel L|0 L|r|led.
8. 0|0C Varga|ore Pelroc|er|ca|s L|r|led.
S|r| u.K. 6asu S|r| ullar Kurar 6asu, a C|er|ca| Erg|reer, carr|es W|l| ||r over 3 decades ol proless|ora| exper|erce |r Rel|rery 0peral|ors
&Varagererl|rlrd|a'sloreroslForlure0|ooa|2000||corpary-lrd|ar0||Corporal|orLld.
S|r| u K 6asu rade ||s rar| |r lrd|ar 0|| & |r l|e lrd|ar 0|| Rel|r|rg Seclor l|roug| ||s corlr|oul|or dur|rg 'corslrucl|or lo
corr|ss|or|rg' ol Val|ura Rel|rery's Capac|ly Augrerlal|or Projecl, ard l|al ol Par|pal Rel|rery. le a|so served |r var|ous
capac|l|es |r lrd|ar 0|| Rel|rery leadquarlers ard |r l|e rel|rer|es al Val|ura, la|d|a, 6araur|, Par|pal ard 0ujaral rarg|rg
lror l|e corpary's |argesl lo l|e rosl roderr.
1. S|e|| VRPL Av|al|or Fue| ard Serv|ces Pr|vale L|r|led.
2. 0|0C Varga|ore Pelroc|er|ca|s L|r|led.
3. Pelrorel Vl6 L|r|led.
S|r| P.P. upad|ya S|r| P.P.upad|ya |s a C|er|ca| Erg|reer ard |o|ds Vaslers |r Erg|reer|rg |r C|er|ca| P|arl 0es|gr.
S|r|P.P.upad|yaslarled||sproless|ora|career|rlrd|a'sloreroslForlure0|ooa|2000||Corpary?lrd|ar0||Corporal|or
L|r|led |r 19/8 ard served lor rear|y 15 years oelore |e jo|red Varga|ore Rel|rery ard Pelroc|er|ca|s L|r|led |r 1993 ard
p|ayed v|la| ro|e |r sleer|rg VRPL lo urprecederled |e|g|ls |r l|e rel|rery perlorrarce.
S|r| P.P.upad|ya carr|es W|l| ||r over 3 decades ol proless|ora| exper|erce |r Rel|rery 0peral|or ard Varagererl.
1. Pelrorel Vl6 L|r|led.
S|r| V|s|ru AgraWa| S|r| V|s|ru AgraWa| |s a le||oW reroer ol l|e lrsl|lule ol C|arlered Accourlarls ol lrd|a ard |as over 30 years ol lurcl|ora|
exper|erce |r F|rarce ard Accourls, Correrc|a|, lrlerral|ora| Trade, Treasury, Corporale F|rarce, Var|el|rg, Varagererl
lrlorral|orSyslers?Pr|rar||y|r0||Seclor(ool||rdoWrslrearardupslrearseclor).
le Was |rslrurerla| |r ac||ev|rg rary r||e-slores |r l0CL ard 0|0C. le |as gol cred|l lo ||s accourl |r corlr|oul|rg
deve|oprerl ol var|ous syslers ard procedures ard var|ous sysler sollWare lor upgraded corpuler|zal|or.
1. S|e|| VRPL Av|al|or Fue|s ard Serv|ces Pr|vale L|r|led.
2. Varga|ore SEZ L|r|led.
60PP0PATE 00VEPNAN6E PEP0PT F0P ThE YEAP 2011-2012
3o
Annua| Peport 2011-12
S|r| V|ve| Kurar S|r| V|ve| Kurar |s ar l.A.S 0ll|cer ard Jo|rl Secrelary (V0P & |0) ard |as over 1/ years exper|erce |r Puo||c Alla|rs |av|rg
|e|d d|llererl adr|r|slral|ve posls |r wesl 6erga|. le |as Wor|ed W|l| wesl 6erga| Rura| Erergy 0eve|oprerl Corporal|or
L|r|led as Execul|ve 0|reclor. le |as des|gred ard |rp|ererled |rroval|ve sc|eres lor poWer d|slr|oul|or |r l|e courlrys|de
as a parl ol PoWer Seclor relorrs |r l|e courlry.
1. 0|0C V|des| L|r|led
S|r| K. Vura|| S|r| K Vura|| |s 0|reclor (Rel|rer|es) lPCL. le |s a C|er|ca| Erg|reer |av|rg W|de exper|erce |r rel|rery operal|ors. 0ur|rg
||s |org career sparr|rg rore l|ar 30 years, |e |as |ard|ed var|ous cr|l|ca| pos|l|ors |rc|ud|rg as |ead ol ool| l|e rel|rer|es
ol lPCL al Vuroa| ard V|sa||apalrar.
1. l|rduslar Pelro|eur Corporal|or L|r|led.
2. lPCL - V|lla| Erergy L|r|led.
3. lPCL - 6|o Fue|s L|r|led.
4. Creda - lPCL 6|o Fue|s L|r|led.
5. Pr|ze Pelro|eur Corpary L|r|led.
0r. A.K.Ral| Preserl|y, 0r.A.K.Ral| |s C|a|rrar ard Prolessor ol Cerlre lor C0 & SR al lVl, |eW 0e|||. le Was ar lAS 0ll|cer |as pul |r
over 35 years ol serv|ce |r l|e 0overrrerl ol lrd|a. le |as served as a 0|reclor |r SAlL, Rl|L, |V0C, Kl0CL ard VEC0|
dur|rg ||s lerure as Add|l|ora| Secrelary ard F|rarc|a| Adv|sor |r l|e V|r|slry ol Slee|, Secrelary V|r|slry ol lR0 00l. le Was
l|earc||lecloll|e|ardrar|o|||¯R|g|lolC|||drerloFreeardCorpu|soryEducal|or6|||,2008¨.
1. Coa| lrd|a L|r|led.
2. Va|arad| Coa|l|e|d L|r|led.
S|r|.6 Rav|rdraral| S|r| 6. Rav|rdraral|, a Vec|ar|ca| Erg|reer, |s l|e ror|ree d|reclor ol l06l 6ar| Lld. (l06l), ore ol l|e sporsors ol Arc||. S|r|
6. Rav|rdraral| preserl|y |o|ds l|e pos|l|or ol Execul|ve 0|reclor ol l06l.
le jo|red l06l |r 1982 as lrduslr|a| F|rarce 0ll|cer. l|s s|gr|l|carl corlr|oul|or |r l|e Corporale F|rarce 0eparlrerl ard |r l|e
Projecl Appra|sa| 0eparlrerl al lead 0ll|ce |ard||rg var|ous |rduslr|a| / |rlraslruclure projecls or ||s porllo||o saW ||r rap|d|y
c||ro|rg l|e corporale |adder .le |eaded l|e Soul|err Reg|ora| 0ll|ce ol l06l, l|s |eaders||p ol l|e Soul|err Zore ersured
p|erorera| ous|ress groWl| |r l|al zore.
1. l06l lrlral|r L|r|led.
2. Sloc| lo|d|rg Corporal|or ol lrd|a L|r|led.
3. Assel Recorslrucl|or Corpary (l) L|r|led.
0r. 0. C|ardrase||arar 0r. 0. C|ardrase||arar |s a Prolessor |r l|e 0eparlrerl ol Earl| Sc|erces, lrd|ar lrsl|lule ol Tec|ro|ogy 6oroay. le
oola|red ||s V.Sc. degree |r App||ed 0eo|ogy |r 19/2 ard P|.0. (T|es|s: Teclor|sr ard Vo|car|sr ol l|e 0ecar Traps)
|r 19/9. le |s Wor||rg |r l|e l|e|ds ol vo|caro|ogy, grourdWaler po||ul|or ard geol|err|cs over l|e pasl 30 years. w|l| ||s
vasl exper|erce |r geol|err|cs, lrd|ar lrsl|lule ol Tec|ro|ogy 6oroay ercouraged ||r lo |rcuoale V/s 0eoSyrd|cale PoWer
Pr|vale Lld., l|e or|y geol|erra| corpary |r lrd|a. le |s currerl|y l|e C|a|rrar ol V/s 0eoSyrd|cale PoWer Pr|vale Lld, lrd|a.
le |s a|so a reroer ol l|e Adv|sory corr|llee ol l|e 0|0C Erergy Cerlre.
1. 0eosyrd|cale PoWer Pr|vale L|r|led.
2. lrd|ar Rare Earl|s L|r|led.
3. weslerr Coa|l|e|ds L|r|led.
4. 0|| ard |alura| 0as Corporal|or L|r|led.
Note: Al preserl l|ere are T|ree lrdeperderl 0|reclors or l|e 6oard W||c| corsl|lule 1/3
rd
ol 6oard slrergl|. T|e corpary |as la|er up W|l| V|r|slry ol Pelro|eur ard
|alura| 0as (V0P&|0) 0overrrerl ol lrd|a lor appo|rlrerl ol requ|s|le ruroer ol |rdeperderl 0|reclors lo corp|y W|l| l|e requ|rererl ol C|ause 49 (l) (A) (||) ol l|e ||sl|rg
agreererl.
(||) PA$T 0|PE6T0P$
0|rector Execut|ve| Non-Execut|ve 6ategory No. of other 0|rectorsh|p No. of outs|de 6omm|ttees
Pub||c Pr|vate Hember 6ha|rman
S|r| A.K.lazar||a |or-Execul|ve ProrolerCorpary's0|reclor / - - -
S|r| 0.K.Sarral |or-Execul|ve ProrolerCorpary's0|reclor / - 3 -
S|r| K.S. Jaresl|r |or-Execul|ve ProrolerCorpary's0|reclor 4 - 2 -
(|||) 6hAN0E$ |N ThE ß0AP0 0F 0|PE6T0P$ 0uP|N0 2011-2012
0|rector 0ate of Appo|ntment 0ate of 6essat|on Pemarks
S|r| V|s|ru AgraWa| 01/04/2011 |ol App||cao|e Pursuarl lo order daled 01/04/2011 oy V|r|slry ol Pelro|eur & |alura| 0as, (VoP&|0),
0overrrerl ol lrd|a S|r| V|s|ru AgraWa| Was appo|rled as 0|reclor (F|rarce).
S|r| 0. K. Sarral 29/0//2010 1o/09/2011 Res|gred lror l|e 6oard ol VRPL corsequerl upor ||s appo|rlrerl as Varag|rg 0|reclor or
l|e 6oard ol 0|0C V|des| L|r|led.
S|r| K.S Jaresl|r 2o/09/2011 31/10/2011 0|0C |ad ror|raled S|r| K.S.Jaresl|r as a 0|reclor or l|e 6oard |r p|ace ol S|r| 0.K.Sarral
lo l||| l|e casua| vacarcy.
T|e ror|ral|or ol S|r| K.S.Jaresl|r as a 0|reclor |as oeer W|l|draWr oy 0|0C l|e parerl
corpary, lror l|e 6oard ol VRPL lor opl|r|z|rg l|e slrergl| ol l|e 6oard |r corp||arce W|l|
C|ause 3.1.3 ol l|e rardalory 0u|de||res ol Corporale 0overrarce lor Cerlra| Puo||c Seclor
Erlerpr|ses (CPSE) |ssued oy 0eparlrerl ol Puo||c Erlerpr|ses (0PE), 0overrrerl ol lrd|a S|r|
K.S Jaresl|r |s corl|ru|rg as spec|a| |rv|lee or l|e 6oard.
S|r| A.K.lazar||a 01/02/2011 31/10/2011 0|0C |ad ror|raled S|r| A.K.lazar||a as a C|a|rrar / 0|reclor or l|e 6oard |r p|ace ol S|r|
R.S.S|arra corsequerl upor ||s superarrual|or lror l|e serv|ces ol 0|0C.
T|e ror|ral|or ol S|r| A.K.lazar||e as a 0|reclor |as oeer W|l|draWr oy 0|0C l|e parerl
corpary, lror l|e 6oard ol VRPL lor opl|r|z|rg l|e slrergl| ol l|e 6oard |r corp||arce W|l|
C|ause 3.1.3 ol l|e rardalory 0u|de||res ol Corporale 0overrarce lor Cerlra| Puo||c Seclor
Erlerpr|ses (CPSE) |ssued oy 0eparlrerl ol Puo||c Erlerpr|ses (0PE), 0overrrerl ol lrd|a S|r|
A.K.lazar||a |s corl|ru|rg as spec|a| |rv|lee or l|e 6oard.
0r. 0.
C|ardrase||arar
10/01/2012 |ol App||cao|e Pursuarl lo l|e ror|ral|or ol 0|0C l|e parerl corpary, |r lerrs ol C|ause o.1 ol l|e 0u|de||res
or Corporale 0overrarce ol Cerlra| Puo||c Seclor Erlerpr|ses (CPSE) |ssued oy 0eparlrerl ol
Puo||c Erlerpr|ses (0PE), 0overrrerl ol lrd|a 0r. 0. C|ardrase||arar |as oeer appo|rled as
lrdeperderl 0|reclor
3/
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
(|v) 6hAN0E$ |N ThE ß0AP0 0F 0|PE6T0P$ AFTEP 31|03|2012
? S|r| u.K. 6asu, Varag|rg 0|reclor |as oeer superarrualed lror l|e
serv|ces or 30/0o/2012.
? S|r|P.P.upad|ya|asassuredl|ec|argeolVarag|rg0|reclorW.e.l.
01/0//2012.
A) ATTEN0AN6E 0F 0|PE6T0P$ AT ThE ß0AP0 HEET|N0 hEL0 0uP|N0
ThE F|NAN6|AL YEAP 2011-12 AN0 23
rd
ANNuAL 0ENEPAL HEET|N0
hEL0 0N 2I|08|2011
[|) 0ETA|L$ 0F ß0AP0 HEET|N0$ hEL0 0uP|N0 ThE F|NAN6|AL YEAP
2011-12.
0ate of meet|ng Heet|ng no. P|ace
30.04.2011 1o0 Varga|ore
20.05.2011 1o1 |eW 0e|||
23.0o.2011 1o2 |eW 0e|||
2o.0/.2011 1o3 |eW 0e|||
2/.08.2011 1o4 Varga|ore
2o.09.2011 1o5 |eW 0e|||
21.10.2011 1oo |eW 0e|||
25.11.2011 1o/ Vuroa|
24.01.2012 1o8 |eW 0e|||
10.03.2012 1o9 |eW 0e|||
Note: 0ur|rg l|e year 2011-12 lola| 10 6oard Veel|rgs Were |e|d.
(||) ATTEN0AN6E 0F 0|PE6T0P$ 0uP|N0 ThE YEAP 2011-12.
0|rector No. of ßoard
Heet|ngs attended
Attended Last A0H
S|r| Sud||r Vasudeva 10 Yes
S|r| u.K 6asu 10 Yes
S|r| P.P. upad|ya 10 Yes
S|r| V|s|ru AgraWa| 9 Yes
S|r| V|ve| Kurar / |o
S|r| K. Vura|| o Yes
S|r| 6. Rav|rdraral| 9 Yes
0r. A. K. Ral| 9 Yes
0r. 0. C|ardrase||arar 2 |o
(|||) ATTEN0AN6E 0F ThE PA$T 0|PE6T0P$ 0uP|N0 ThE YEAP 2011-12.
0|rector No. of ßoard Heet|ngs
attended
Attended Last A0H
S|r| 0.K. Sarral 3 |o
S|r| A.K. lazar||a / Yes
S|r| K S Jaresl|r 1 |o
S|r| 0. K. Sarral |as res|gred lror l|e 6oard ol VRPL corsequerl upor ||s
appo|rlrerl as Varag|rg 0|reclor or l|e 6oard ol 0|0C V|des| L|r|led.
T|e ror|ral|or ol S|r| A.K.lazar||a, ard S|r| K.S.Jaresl|r, Was W|l|draWr
oy 0|0C l|e parerl corpary W|l| ellecl lror 31/10/2011 lor opl|r|z|rg
l|e slrergl| ol l|e 6oard |r corp||arce W|l| C|ause 3.1.3 ol l|e rardalory
0u|de||res ol Corporale 0overrarce lor Cerlra| Puo||c Seclor Erlerpr|ses
(CPSE) |ssued oy 0eparlrerl ol Puo||c Erlerpr|ses (0PE), 0overrrerl ol
lrd|a. S|r| A.K.lazar||a ard S|r| K.S.Jaresl|r are corl|ru|rg as spec|a|
|rv|lees or l|e 6oard ol l|e corpary.
2) Au0|T 60HH|TTEE
(|) TEPH$ 0F PEFEPEN6E:
T|e Aud|l Corr|llee Was corsl|luled or l|e lerrs ol relererce as prescr|oed
urder Secl|or 292A ol l|e Corpar|es Acl, 195o , C|ause 49 ol l|e L|sl|rg
Agreererl W|l| l|e Sloc| Exc|arges, ard 0u|de||res or Corporale
0overrarce lor Cerlra| Puo||c Seclor Erlerpr|se |ssued oy 0eparlrerl ol
Puo||c Erlerpr|se (0PE)., 0overrrerl ol lrd|a.
(||) 60HP0$|T|0N 0F Au0|T 60HH|TTEE A$ 0N 31.03.2012
Hembers of Aud|t 6omm|tte 6ategory
S|r| 6. Rav|rdraral| C|a|rrar (lrdeperderl 0|reclor)
0r. A.K. Ral| Veroer (lrdeperderl 0|reclor)
0r. 0. C|ardrase||arar Veroer (lrdeperderl 0|reclor) ¯
S|r| K. Vura|| Veroer
¯ 0r. 0. C|ardrase||arar |as oeer |rducled |r lo Aud|l Corr|llee as a Veroer
W.e.l. 0/.02.2012.
Note:
? T|eCorparycorp||esW|l|l|erequ|rererlolC|ause49(ll)(A)oll|e||sl|rg
agreererl as regards lo corsl|lul|or ol l|e aud|l corr|llee.
? 0|reclor(F|rarce),0|reclor(Tec|r|ca|)ard0erera|Varager(lrlerra|Aud|l)
are l|e perrarerl |rv|lees lo l|e Aud|l Corr|llee reel|rgs.
? CorparySecrelary|sl|eSecrelarylol|eAud|lCorr|llee.
? SlaluloryAud|lorsarespec|a||rv|leeW|||erev|eW|rgl|el|rarc|a|accourlsoy
l|e Aud|l Corr|llee
(|||) 0ETA|L$ 0F ThE Au0|T 60HH|TTEE HEET|N0 hEL0 0uP|N0 ThE
F|NAN6|AL YEAP 2011-12
0ate of Heet|ng Heet|ng no. No. of members
attended
20.05.2011 4/ 4
2o.0/.2011 48 4
2o.08.2011 49 3
21.10.2011 50 2
24.01.2012 51 2
Note: 0ur|rg l|e year 2011-12 lola| 5 Aud|l Corr|llee Veel|rgs Were |e|d.
(|v) ATTEN0EN6E |N Au0|T 60HH|TTEE HEET|N0$.
Hembers of Aud|t 6omm|tte No. of Heet|ngs
attended
Pemarks
S|r| 6. Rav|rdraral|
4
S|r| Sud||r Vasudeva
2 Pasl reroer
S|r| K. Vura||
4
0r. A. K. Ral|
5
0r. 0. C|ardrase||arar
|eW reroer s|rce
10/01/2012
3) PEHuNEPAT|0N 60HH|TTEE:
VRPL oe|rg a 0overrrerl Corpary ard CPSE, appo|rlrerl, lerrs ard
cord|l|ors ol rerureral|or ol Varag|rg 0|reclors ard Furcl|ora| 0|reclors
(w|o|e-l|re 0|reclors) are delerr|red oy l|e 0overrrerl ol lrd|a
Pursuarl lo C|ause 49 ol l|e L|sl|rg Agreererl ard a|so oy 0PE gu|de||res
or Corporale 0overrarce lor CPSE, l|e Corpary |as corsl|luled a
Rerureral|or Corr|llee |r Apr|| 2009. 0ur|rg l|e year 2011-12 lola| 3
Rerureral|or Corr|llee Veel|rgs Were |e|d. T|e Corr|llee corpr|ses
lo||oW|rg 0|reclors as or 31/03/2012:
Hembers of Pemunerat|on 6omm|ttee
Attendance of
Hembers
0r. A.K. Ral| C|a|rrar (lrdeperderl 0|reclor) 3
S|r| 6. Rav|rdraral| Veroer (lrdeperderl 0|reclor) 3
S|r| V|ve| Kurar Veroer (0overrrerl 0|reclor) 2
T|e Corpary pays l|e s|ll|rg lees or|y lo lrdeperderl 0|reclors lor allerd|rg
l|e 6oard Suo-Corr|llee ard 6oard reel|rgs.
38
Annua| Peport 2011-12
[|) 0ETA|L$ 0F PEHuNEPAT|0N [$|TT|N0 FEE$) PA|0 T0 ThE
|N0EPEN0ENT0|PE6T0P$0uP|N0FY2011?12:
|ndependent 0|rectors $|tt|ng Fees [`)
S|r| 6. Rav|rdraral| 3,45,000
0r. A. K. Ral| 4,20,000
0r. 0.C|ardrase||arar 30,000
[||) 0ETA|L$ 0F PEHuNEPAT|0N PA|0 T0 HANA0|N0 0|PE6T0P,
0|PE6T0P [F|NAN6E) AN0 0|PE6T0P [TE6hN|6AL) 0uP|N0 FY 2011-
12 0N PA|0 ßA$|$ :
(Arourl |r `)
Part|cu|ars Hanag|ng
0|rector
0|rector
[Techn|ca|)
0|rector
[F|nance)
Tota|
Sa|ar|es ard
A||oWarces
35,o4,/81 24,12,//8 1/,/4,1o/ //,51,/2o
Corlr|oul|or lo PF &
0l|er Furds
3,95,o35 3,39,o9/ 3,24,o4/ 10,59,952
0l|er Perqu|s|les &
6erel|ls
2,o9,081 - - -
Tota| 42,29,49I 2I,52,448 20,98,814 90,80,I59
$erv|ce 6ontract 5 years or l|e dale ol superarrual|or
W||c|ever |s ear||er
|ol|ce per|od T|ree Vorl|s |ol|ce or or payrerl ol
l|ree rorl|s sa|ary |r ||eu l|ereol.
Severarce lees |ol App||cao|e
Sloc| 0pl|ors dela||s (|l ary) |ol App||cao|e
w|el|er |ssued al d|scourl |ol App||cao|e
Per|od over W||c| |l |s accrued
ard |s exerc|sao|e
|ol App||cao|e
[|||) 0|PE6T0P'$$hAPEh0L0|N0:
T|e lo||oW|rg 0|reclors are |o|d|rg Equ|ly s|ares ol l|e Corpary as or
31/03/2012:
Name of the 0|rector No. of $hares he|d
S|r| Sud||r Vasudeva 300
S|r| V|s|ru AgraWa| 50
4) $hAPEh0L0EP$'||NVE$T0P$'0P|EVAN6E60HH|TTEE
(|) T|eCorpary|ascorsl|luledS|are|o|ders'/lrveslors'0r|evarceCorr|llee
pursuarl lo C|ause 49(lV) (0) (|||) ol L|sl|rg Agreererl ard 0u|de||res |ssued
oy SE6l.
60HP0$|T|0N 0F $hAPEh0L0EP$'| |NVE$T0P$' 0P|EVAN6E
60HH|TTEE A$ 0N 31|03|2012.
Hembersof$hareho|ders'||nvestors'
0r|evance 6omm|ttee
6ategory
S|r| 6. Rav|rdraral| C|a|rrar
(lrdeperderl 0|reclor)
S|r| u.K. 6asu Veroer
S|r| P.P. upad|ya Veroer
S|r| V|s|ru AgraWa| Veroer
0r. A.K. Ral| Veroer (lrdeperderl 0|reclor)
0r. 0. C|ardrase||arar Veroer (lrdeperderl 0|reclor)
(||) A S|are Trarsler Corr|llee |s corsl|luled lo approve lrarsler, lrarsr|ss|or,
0eraler|a||zal|or, reraler|a||zal|or elc.
|ole:
? |areard0es|gral|oroll|eCorp||arceoll|cer:S|r|0|res|V|s|ra,
Corpary Secrelary.
? |o.olS|are|o|der'scorp|a|rlsrece|veddur|rgl|eFY2011-2012:101
? |o.olcorp|a|rlsrera|rsurreso|veddur|rgl|eFY2011-2012:|lL
? |o.olperd|rgs|arelrarslersasor31/03/2012:|lL
5) 0ETA|L$ 0F 0ENEPAL ß00Y HEET|N0$
(|) Local|or, p|ace ard l|re W|ere |asl 3 A0Vs Were |e|d
Year Locat|on 0ate T|me
2011 Reg|slered 0ll|ce ol l|e Corpary
Vudapadav,Kul|el|oorP.0.V|a
Kal|pa||a,Varga|ore?5/5030
2//08/2011 4.00 p.r
2010 Reg|slered 0ll|ce ol l|e Corpary
Vudapadav, Kul|el|oor P.0.V|a
Kal|pa||a,Varga|ore?5/5030
04/09/2010 3.30 p.r
2009 Reg|slered 0ll|ce ol l|e Corpary
Vudapadav, Kul|el|oor P.0.V|a
Kal|pa||a,Varga|ore?5/5030
19/09/2009 3.30 p.r
(||) w|el|er ary spec|a| reso|ul|ors passed |r l|e prev|ous 3 A0Vs?
0re spec|a| reso|ul|or Was passed |r l|e 21
sl
A0V lor:
a. lrcreas|rg l|e ruroer ol 0|reclors |r VRPL 6oard lror 12 lo 1o, ard
o. 0ecreas|rg l|e ruroer ol |or|ree 0|reclors ol 0|0C lror 2 lo 1 lor
l|e purpose ol 0uorur lor l|e 6oard Veel|rg
0re spec|a| reso|ul|or Was passed |r l|e 22
rd
A0V lor:
Appo|rlrerl ol 0r. A.K. Ral| as lrdeperderl 0|reclor ol l|e corpary ||ao|e lo
rel|re oy rolal|or
(|||) Ary spec|a| reso|ul|ors Were pul l|roug| Posla| oa||ol |asl year:
|o spec|a| reso|ul|or Was pul l|roug| posla| oa||ol |r l|e |asl A0V.
(|v) Persors W|o corducled l|e Posla| 6a||ol exerc|se:
|ol App||cao|e.
(v) Procedure lor Posla| 6a||ol:
|ol App||cao|e.
ê) 0|$6L0$uPE$:
(|) HATEP|ALLY $|0N|F|6ANT PELATE0 PAPTY TPAN$A6T|0N$:
(a) T|e Corpary |s a Slale corlro||ed erlerpr|se ard l|ere are ro
lrarsacl|ors lo oe d|sc|osed as per l|e Accourl|rg Slardard 18 (AS
- 18) ol Re|aled Parly 0|sc|osures |ssued oy l|e lrsl|lule ol C|arlered
Accourlarlsollrd|aexcepl'o'ard'c'rerl|oredoe|oW.
(o) Key Varagererl Persorre|:
w|o|e-l|re 0|reclors:
S|r| u.K 6asu : Varag|rg 0|reclor
S|r| P.P. upad|ya : 0|reclor (Tec|r|ca|)
S|r| V|s|ru AgraWa| : 0|reclor (F|rarce)
0eta||s of Transact|ons dur|ng f|nanc|a| year 2011-2012:
T|e Rerureral|or pa|d lo Varag|rg 0|reclor, 0|reclor (Tec|r|ca|) ard
0|reclor (F|rarce) lor l|e FY 2011-12.
? Sa|ar|es ard A||oWarces ` //,51,/2o V||||or |rc|ud|rg
Perlorrarce Re|aled Pay as per 0eparlrerl ol Puo||c
Erlerpr|se gu|de||re daled 9
l|
Feo, 2009.
? Corlr|oul|or lo Prov|derl Furd ` 10,59,952 V||||or.
? 0l|er perqu|s|le ard oerel|ls ` 2,o9,081 V||||or.
(Exc|ud|rg accrued |eave sa|ary ard gralu|ly s|rce l|e sare |s rol ava||ao|e lor
|rd|v|dua| erp|oyees)
39
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
(c) Enterpr|ses |n Wh|ch s|gn|f|cant |nf|uence |s exerc|sed:
Name Pe|at|onsh|p Nature of Transact|on
0|0C Varga|ore
Pelroc|er|ca|s L|r|led
Assoc|ale 0ela||s lurr|s|ed |r
|ole-30 (|oles lo
Accourls)
S|e|| VRPL Av|al|or Fue|
& Serv|ces Pr|vale L|r|led.
Jo|rl Verlure
Varga|ar Rela|| Serv|ces
L|r|led
Jo|rl Verlure
Varga|ore SEZ L|r|led Assoc|ale
(||) 0ela||s ol ror-corp||arce oy l|e corpary, pera|l|es, slr|clures |rposed oy
l|e Sloc| Exc|arge or SE6l or ary aul|or|ly or ary raller re|aled lo cap|la|
rar|els dur|rg |asl 3 years: |lL
(|||) Non- Handatory Pequ|rements:
a) T|eCorparyra|rla|rsaC|a|rrar'soll|ceal|lsexperse.
o) VRPL oe|rg a 0overrrerl Corpary, appo|rlrerl ard lerrs ard
cord|l|ors ol rerureral|or ol Execul|ve 0|reclors (W|o|e-l|re d|reclors)
are delerr|red oy l|e Pres|derl ol lrd|a excepl l|e Perlorrarce
Re|aled Pay W||c| |s approved oy l|e Rerureral|or Corr|llee W|l||r
l|e ||r|ls l|xed urder 0PE 0u|de||res.
c) Asl|eCorpary's0uarler|y/la|lYear|yF|rarc|a|resu|lsared|sp|ayed
or l|e Weos|le ol l|e corpary, l|e |a|l-year|y reporl |s rol serl lo eac|
S|are|o|ders res|derce.
d) T|ere are ro qua||l|cal|ors |r l|e Aud|lor's reporl or l|e l|rarc|a|
slalererls lo l|e s|are|o|ders ol l|e Corpary.
e) T|ere |s ro lorra| po||cy al preserl lor lra|r|rg ol l|e 6oard reroers
ol l|e Corpary as l|e reroers ol l|e 6oard are er|rerl ard
exper|erced proless|ora|s. loWever, l|e corpary |s p|arr|rg lo
corducl su|lao|e lra|r|rg lor 6oard Veroers.
l) T|ere |s ro lorra| rec|ar|sr ex|sl|rg |r perlorrarce eva|ual|or ol
ror-execul|ve d|reclors.
g) w||sl|e 6|oWer Po||cy: T|e Corpary |as lorru|aled a w||sl|e 6|oWer
po||cy W||c| |as oeer approved oy l|e 6oard.
|) T|e corpary rardalor||y corp||es W|l| a|| l|e Accourl|rg Slardards
|ssued oy lCAl lror l|re lo l|re excepl Accourl|rg Slardard-1/
Segrerl Reporl|rg, |r respecl ol W||c| relererce |as oeer rade lo
l|e Experl Adv|sory Corr|llee ol l|e lCAl.
(|v) 600E 0F 60N0u6T F0P HEHßEP$ 0F ThE ß0AP0 AN0 $EN|0P
HANA0EHENT
T|e 6oard al |ls reel|rg |e|d or 30/01/200o, |as adopled a Code ol Corducl
('Code') lor Veroers ol l|e 6oard ard Ser|or Varagererl.T||s Code |s a
corpre|ers|ve code app||cao|e lo Execul|ve ard |or-execul|ve 0|reclors as
We|| as reroers ol l|e Ser|or Varagererl |.e. Varager|a| Persorre| al l|e
|eve| ol 0roup 0erera| Varager ard aoove ol l|e Corpary. A copy ol l|e
Code|asoeerp|acedorl|eCorpary'sWeos|leWWW.rrp|.co.|r
T|e Code |as oeer c|rcu|aled lo a|| l|e reroers ol l|e 6oard ard Ser|or
Varagererl ard corp||arce ol l|e sare |as oeer all|rred oy l|er. A
dec|aral|or s|gred oy Varag|rg 0|reclor |s g|ver oe|oW:
| hereby conf|rm that:
The 6ompany has obta|ned aff|rmat|on from a|| the members of the
ßoard and $en|or Hanagement that they have comp||ed W|th the 6ode
of 6onduct for Hembers of ßoard and $en|or Hanagement, |n respect of
the f|nanc|a| year 2011-12.
P.P. upadhya
Hanag|ng 0|rector
(v) HPPL 600E 0N |N$|0EP TPA0|N0
lr pursuarce ol l|e Secur|l|es ard Exc|arge 6oard ol lrd|a (Pro||o|l|or ol
lrs|der Trad|rg) (Arerdrerl) Regu|al|ors, 2008 l|e 6oard |as approved l|e
arerded ¯Code ol Corducl lor Preverl|or ol lrs|derTrad|rg¨.T||s Code |s
lo||oWed oy a|| 0es|graled Erp|oyees ol l|e Corpary.
(v|) 6E0 & 6F0 6EPT|F|6AT|0N
lr lerrs ol rev|sed C|ause 49 ol l|e L|sl|rg Agreererl, l|e cerl|l|cal|or oy
l|e CE0 & CF0 or l|e l|rarc|a| slalererls ard |rlerra| corlro|s re|al|rg lo
l|rarc|a| reporl|rg |as oeer oola|red.
I) HEAN$ 0F 60HHuN|6AT|0N:
|) 0uarler|y Resu|ls : 0uarler|y Resu|ls ol l|e Corpary
are puo||s|ed |r 6us|ress Slardard
(Erg||s|),udayavar| -Var|pa| (Karrada)
ard are a|so d|sp|ayed |r l|e Corpary's
Weos|le WWW.rrp|.co.|r
||) |eWs Re|eases,
Preserlal|ors, elc
: 0ll|c|a| reWs re|eases ard 0ll|c|a| Ved|a
Re|eases are serl lo l|e Sloc| Exc|arges.
|||) Preserlal|or lo
lrsl|lul|ora| lrveslors
/Ara|ysls.
: |o
|v) weos|le : T|e Corpary's Weos|le WWW.rrp|.co.|r
corla|rs a separale ded|caled secl|or
'lrveslor Serv|ces' W|ere s|are|o|ders
|rlorral|or |s ava||ao|e. T|e Arrua|
Reporl ol l|e Corpary |s a|so ava||ao|e
or l|e Weos|le |r a user-lr|erd|y ard
doWr|oadao|e lorr.
v) Arrua| Reporl : Arrua| Reporl corla|r|rg, |rler-a||a,
Aud|led Arrua| Accourls, Corso||daled
F|rarc|a| Slalererls, 0|reclor's Reporl,
Aud|lor's Reporl ard ol|er erl|l|ed
l|erelo. T|e Varagererl 0|scuss|or ard
Ara|ys|s (V0A) Reporl lorrs parl ol l|e
Arrua| Reporl ard |s d|sp|ayed or l|e
Corpary's Weos|le WWW.rrp|.co.|r
v|) C|a|rrar's
Corrur|que
: Pr|rled copy ol l|e C|a|rrar's Speec|
|s d|slr|ouled lo a|| l|e s|are|o|ders al
l|e Arrua| 0erera| Veel|rgs. T|e sare
|s a|so p|aced or l|e Weos|le ol l|e
Corpary ard serl lo Sloc| Exc|arges
ard puo||s|ed |r |ead|rg |eWspapers.
v||) Rer|rder lo lrveslors : Rer|rders lor urc|a|red s|ares, urpa|d
d|v|derd/urpa|d |rleresl or rederpl|or
arourl or deoerlures are serl lo l|e
s|are|o|ders/deoerlure |o|ders as per
records every year.
v|||) Corporale F|||rg
ard 0|sser|ral|or
Sysler(CF0S)
: T|e CF0S porla| jo|rl|y oWred, raraged
ard ra|rla|red oy 6SE ard |SE |s a
s|rg|e source lo v|eW |rlorral|or l||ed
oy ||sled corpar|es. A|| d|sc|osures ard
corrur|cal|ors lo 6SE & |SE are l||ed
e|eclror|ca||y l|roug| l|e CF0S porla| ard
|ard cop|es ol l|e sa|d d|sc|osures ard
corresporderce are a|so l||ed
|x) |SE E|eclror|c
App||cal|or
Process|rg Sysler
(|EAPS)
: T|e |EAPS |s Weo oased app||cal|or
des|gred oy |SE lor corporale, T|e
S|are|o|d|rg Pallerr ard Corporale
0overrarce Reporl are a|so l||ed
e|eclror|ca||y or |EAPS.
40
Annua| Peport 2011-12
x) SE6l Corp|a|rls
Redress Sysler (
SC0RES)
: T|e |rveslors corp|a|rls are processed
|r a cerlra||zed Weo oased corp|a|rls
are processed |r a cerlra||zed Weo oased
corp|a|rls redress sysler. T|e sa||erl
lealures ol l||s sysler are: Cerlra||zed
dalaoase ol a|| corp|a|rls, or||re up|oad
ol Acl|or Ta|er Reporls (ATRs) oy l|e
corcerred corpar|es ard or||re v|eW|rg
oy |rveslors ol acl|ors la|er or l|e
corp|a|rl ard |ls currerl slalus.
x|) 0es|graled Exc|us|ve
era||-|d
: T|e Corpary |as des|graled l|e
lo||oW|rg e-ra||-|ds exc|us|ve|y lor |rveslor
serv|c|rg.
a) For quer|es or Arrua| Reporl-
|rveslorCrrp||rd|a.cor
o) For quer|es |r respecl ol s|ares |r
p|ys|ca| rode- rrp||rcC||r||rl|re.co.|r
8) 0ENEPAL $hAPEh0L0EP$ |NF0PHAT|0N
24
th
ANNuAL 0ENEPAL HEET|N0
(|) Corpary Reg|slral|or
0ela||s
: T|e Corpary |s reg|slered |r l|e Slale ol
Karrala|a, lrd|a. T|e Corporale lderl|ly
|uroer (Cl|) a||olled lo l|e Corpary
oy l|e V|r|slry ol Corporale Alla|rs
(VCA) |s L85110KA198800l008959
(||) 0ay, 0ale, T|re ard
Verue
: 15
l|
Sepleroer, 2012, Salurday al 4.00
p.r, Reg|slered 0ll|ce: Vudapadav,
Kul|el|oor P.0.V|a Kal|pa||a, Varga|ore
?5/5030
(|||)
(|v)
(v)
F|rarc|a| Year
0ale ol 6oo| C|osure
0|v|derd Payrerl 0ale
:
:
01/04/2011 lo 31/03/2012.
14
l|
Ju|y 2012, Salurday, lo 28
l|
Ju|y
2012, Salurday (ool| days |rc|us|ve) lor
payrerl ol d|v|derd. 0|v|derd W||| oe
pa|d or|y aller oola|r|rg approva| oy l|e
S|are|o|ders al l|e 24
l|
Arrua| 0erera|
Veel|rg lo oe |e|d or 15
l|
Sepleroer,
2012.
(v|) L|sl|rg or Sloc| Exc|arge
A) Equ|ly S|ares : 1) 6oroay Sloc| Exc|arge L|r|led
P||roze Jeejeeo|oy ToWers,0a|a|
Slreel, Vuroa|- 400 001
Scr|p Code: 500109
2) T|e |al|ora| Sloc| Exc|arge ol
lrd|a L|r|led, Exc|arge P|aza,
6ardra (E), Vuroa| - 400 051
Trad|rg Syroo|: VRPL
lSl|: l|E103A01014
6) Payrerl ol L|sl|rg
Fees
: Arrua| ||sl|rg lee lor l|e year 2012-13
|as oeer pa|d oy l|e Corpary lo 6SE
ard |SE.
C) Payrerl ol
0epos|lory Fees
: Arrua| Cuslody/ lssuer lee lor l|e year
2012-13 |as oeer pa|d oy l|e Corpary
lo |S0L ard C0SL.
(v||) 6r|el Resure ol a|| 0|reclors rerl|or|rg qua||l|cal|or, experl|se, rares ol
l|e corpar|es |r W||c| l|ey |o|d C|a|rrars||p/ 0|reclors||p |r l|e 6oard
ard C|a|rrars||p/ 0|reclors||p |r l|e 6oard suo- corr|llees, s|are|o|d|rg
|r l|ese corpar|es ard re|al|ors||p oelWeer d|reclor LQWHUVH pursuarl lo
C|ause 49 ol L|sl|rg agreererl W|l| Sloc| exc|arges are prov|ded |r l||s
reporl W||c| lorrs parl ol l|e Arrua| Reporl.
(v|||) Var|el Pr|ce 0ala
Honth
[2011-2012)
Nat|ona| $tock
Exchange
ßombay $tock
Exchange
h|gh (`) LoW (`) h|gh (`) LoW (`)
Apr|| 2011 /o.4 o4.25 /o.50 o4.25
Vay 2011 /o.o5 o/.85 /o.o5 o/.90
Jure 2011 80.o /1 80.o0 /1.10
Ju|y' 2011 84.5 /o.8 84./5 /o.50
Augusl 2011 80.3 5/./ 80.20 5/.50
Sepleroer 2011 o9./5 o1.1 o9.90 o1.35
0clooer 2011 o/.9 58.1 o/.40 59.05
|overoer 2011 oo.9 5o.2 o5.00 58.45
0eceroer 2011 o9 49.3 o3.15 50.00
Jaruary 2012 o2.2 50.25 o2.90 51.00
Feoruary 2012 /3.95 o0.2 /4./5 o0.00
Varc| 2012 /2.45 58.3 /2.40 58.25
(|x) Perlorrarce |r corpar|sor lo oroad oased |rd|ces suc| as |SE |lFTY ard
6SE Sersex:
|SE (|lFTY) 2011-12
6SE SE|SEX 2011-12
(x) Reg|slrar ard Trarsler Agerl: V/s L|r| lrl|re lrd|a Pr|vale L|r|led., C - 13,
Parra|a|S|||V|||sCorpourd,L.6.SVarg,6|ardup(w),Vuroa|?4000/8
|ave oeer appo|rled as Corpary's R&T Agerl W.e.l 1/1/2010. Ear||er, V/s
VCS Lld Was our R&T Agerl uplo 31/12/09 as per l|e lerrs ol corlracl ol
appo|rlrerl.
30º
20º
10º
0º
-10º
-20º
-30º
Apr||
Vay
Jure
Ju|y
Aug
3epl
0cl
|ov
0ec
Jar
Feo
Varc|
|3E(|lFTY) VRPL
30º
20º
10º
0º
-10º
-20º
-30º
Apr||
Vay
Jure
Ju|y
Aug
3epl
0cl
|ov
0ec
Jar
Feo
Varc|
63E3ersex VRPL
41
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
(x|) S|are lrarsler sysler:
T|es|arelrarslerWor||soe|rg|ard|edoyCorpary'sR&Tagerls,V/s.L|r|lrl|relrd|aPvlLld.,W|oa|so|av|rgcorrecl|v|lyW|l|l|edepos|lory'sv|z.|S0Lard
C0SL. T|e lrarslers are approved oy l|e S|are lrarsler Corr|llee or Wee||y oas|s. S|are lrarslers are reg|slered ard d|spalc|ed W|l||r a per|od ol 30 days lror l|e
dale ol rece|pl prov|ded l|ey are corp|ele |r a|| respecls.
(x||) 0|slr|oul|or ol S|are|o|d|rg as or 31/03/2012.
No. of Equ|ty $hares he|d No. of shareho|ders ho|d|ng shares |n No. of shares he|d |n º of Equ|ty cap|ta| he|d |n
Phys|ca| Form 0emat Form Phys|ca| Form 0emat Form Phys|ca| Form 0emat Form
1-500 244489 24931/ 435/85o/ 43203589 2.49 2.4/
501-1000 10o1 15205 815025 1215o/99 0.05 0.o9
1001-2000 190 5385 2//50/ 8141413 0.02 0.4o
2001-3000 28 0.144/ /0325 3o98982 0 0.21
3001-4000 10 519 35208 18/0/5/ 0 0.11
4001-5000 1o 4o0 /5450 21/0849 0 0.12
5001-10000 12 59o 88150 42939// 0.01 0.25
10001 & aoove 8 410 24//00 1o318/44/9 0.01 93.11
Tota| 245814 2I3339 4518I932 1I0I410845 2.58 9I.42
(x|||) S|are|o|d|rg Pallerr as or 31/03/2012.
Part|cu|ars No. of $hares Percentage
0|| ard |alura| 0as Corporal|or Lld. 125535409/ /1.o2
l|rduslar Pelro|eur Corporal|or Lld. 29/153518 1o.9o
Res|derl lrd|v|dua|s 1151o934o o.5/
|or Res|derl lrd|v|dua|s 8/44814 0.5
0oresl|c Corpar|es 15255884 0.8/
0verseas Corporale 6od|es 1//02/10 1.01
0lC & Suos|d|ar|es/6ar|s & F|rarc|a| lrsl|lul|ors/Vulua| Furds 43202453 2.4/
Cerlra|/Slale 0ovl. lrsl|lul|ors 2/00 0
Trusls 13255 0
Tota| 1I52598III 100
(x|v) 0eraler|a||zal|or ol S|ares ard ||qu|d|ly
As or 31
sl
Varc| 2012, 1/0,/4,10,845 equ|ly s|ares represerl|rg 9/.42 º, |s |r deraler|a||zed lorr.
6ol| l|e prorolers, 0|0C ard lPCL |o|d|rgs are |r deraler|a||zed lorr pursuarl lo SE6l c|rcu|ar daled 1/.0o.2011.
(xv) urc|a|red/urde||vered S|ares
$|.
No
Part|cu|ars No. of
shareho|ders
No. of shares
1 Aggregale ruroer ol s|are|o|ders W|ose s|ares Were |y|rg urde||vered / urc|a|red al l|e oeg|rr|rg ol l|e year; 10098 1198/25
2 |uroer ol s|are|o|ders W|o approac|ed l|e corpary lor l|e|r urde||vered s|ares dur|rg l|e year; 8/4 1/3/00
3 |uroer ol s|are|o|ders lo W|or urde||vered s|ares Were relurred / re-posled dur|rg l|e year; 8/4 1/3/00
4 Aggregaleruroerols|are|o|dersardl|eoulslard|rgs|ares|rl|e¯urc|a|redS|areSusperseAccourl¨|y|rgall|eerd
ol l|e year;
9224 1025025
(xv|) 0ulslard|rg 00R/ A0R/ warrarls or ary corverl|o|e |rslrurerls, corvers|or dale ard |rpacl or equ|ly: |lL
(xv||) P|arl Local|or : Vudapadav, Kul|el|oor P.0.V|a Kal|pa||a, Varga|ore-5/5 030, Karrala|a.
(xv|||) Address lor Corresporderce:
PE0|$TEPE0 0FF|6E AN0 |NVE$T0P PELAT|0N$ 6ELL:
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted [HPPL)
Vudapadav, Kul|el|oor, P.0.V|a Kal|pa||a, Varga|ore-5/5 030, Karrala|a.
Te|e.|o.:0824-22/0400 Fax |o.: 0824-22/1404
Era||: |rveslorCrrp||rd|a.cor
weos|le: WWW.rrp|.co.|r
H|$ L|nk |nt|me |nd|a Pr|vate L|m|ted, [P&T Agent)
u|lT: VRPL C - 13, Parra|a| S||| V|||s Corpourd,
L. 6. S. Varg, 6|ardup (wesl), Vuroa| - 400 0/8.
Te|e. |o.: 2594o9/0, 259o3838, Fax |o.: 2594o9o9
Era||: rrp||rcC||r||rl|re.co.|r
weos|le.: WWW.||r||rl|re.co.|r
42
Annua| Peport 2011-12
To,
T|e 6oard ol 0|reclors,
Varga|ore Rel|rery ard Pelroc|er|ca|s Lld.
we |ave exar|red l|e reg|slers, records ard docurerls ol Varga|ore Rel|rery ard Pelroc|er|ca|s Lld. (l|e Corpary) lor l|e l|rarc|a| year erded or 31.3.2012 accord|rg
lo l|e prov|s|ors ol:
? T|e Corpar|es Acl, 195o ard Ru|es rade urder l|e Acl;
? T|e 0epos|lor|es Acl, 199o ard l|e Regu|al|ors ard 6ye-|aWs lrared urder l|e Acl;
? T|e Secur|l|es ard Exc|arge 6oard ol lrd|a (Suoslarl|a| Acqu|s|l|or ol S|ares ard la|eovers) Regu|al|ors, 199/;
? T|e Secur|l|es ard Exc|arge 6oard ol lrd|a (Pro||o|l|or ol lrs|der Trad|rg) Regu|al|ors, 1992;
? T|e Equ|ly L|sl|rg Agreererls W|l| l|e 6oroay Sloc| Exc|arge Lld. ard l|e |al|ora| Sloc| Exc|arge ol lrd|a Lld. ard
? 0u|de||res or Corporale 0overrarce lor Cerlra| Puo||c Seclor Erlerpr|ses as sl|pu|aled |r l|e 0.V.|o 18(8)/2005-0V daled 14
l|
Vay, 2010 ol l|e V|r|slry ol leavy
lrduslr|esardPuo||cErlerpr|ses,0overrrerlollrd|a(¯l|e0PE0u|de||resorCorporale0overrarce¨).
6ased or our exar|ral|or ard ver|l|cal|or ol records produced lo us ard accord|rg lo l|e |rlorral|or ard exp|aral|ors g|ver lo us oy l|e Corpary, |r our op|r|or:
1. wereporll|all|eCorpary|ascorp||edW|l|l|eprov|s|orsoll|eCorpar|esAcl,195o(¯l|eAcl¨)ardRu|esradeurderl|eAclardl|eVerorardurardArl|c|es
ol Assoc|al|or ol l|e Corpary W|l| regard lo:
a. Va|rlerarce ol slalulory reg|slers ard docurerls ard ra||rg recessary erlr|es l|ere|r;
o. F|||rg ol l|e requ|s|le lorrs ard relurrs W|l| l|e Reg|slrar ol Corpar|es, Karrala|a, 6arga|ore W|l||r l|e l|re prescr|oed urder l|e Acl ard l|e Ru|es rade
l|ereurder.
$E6PETAP|AL Au0|T PEP0PT
Au0|T0P'$6EPT|F|6ATE0N60HPL|AN6E0F60N0|T|0N$0F60PP0PATE00VEPNAN6E
T|e Veroers,
Varga|ore Rel|rery ard Pelroc|er|ca|s L|r|led
Varga|ore.
we |ave exar|red l|e corp||arce ol cord|l|ors ol Corporale 0overrarce oy V/s. Varga|ore Rel|rery ard Pelroc|er|ca|s L|r|led lor l|e year erded
31
sl
Varc|, 2012, as sl|pu|aled |r C|ause 49 ol l|e L|sl|rg Agreererl ol l|e sa|d Corpary W|l| sloc| exc|arge(s).
T|e corp||arce ol cord|l|ors ol Corporale 0overrarce |s l|e respors|o|||ly ol l|e Varagererl. 0ur exar|ral|or Was ||r|led lo procedures ard
|rp|ererlal|or l|ereol, adopled oy l|e Corpary lor ersur|rg l|e corp||arce ol l|e cord|l|ors ol l|e Corporale 0overrarce. ll |s re|l|er ard aud|l ror ar
express|or ol op|r|or or l|e l|rarc|a| slalererls ol l|e corpary.
lr our op|r|or ard lo l|e oesl ol our |rlorral|or ard accord|rg lo l|e exp|arl|ors g|ver lo us ard l|e represerlal|or rade oy l|e Varagererl, We cerl|ly
l|al l|e Corpary |as corp||ed W|l| l|e cord|l|ors ol Corporale 0overrarce as sl|pu|aled |r C|ause 49 ol l|e aoove rerl|ored L|sl|rg Agreererl excepl
re|al|rg lo appo|rlrerl ol lrdeperderl 0|reclors ol|er l|ar goverrererl ror|rees or l|e 6oard/Aud|l corr|llee ol l|e corpary, W||c| |s oe|rg pursued
W|l| l|e V|r|slry ol Pelro|eur ard |alura| 0as, 0overrrerl ol lrd|a.
we slale l|al ro |rveslor gr|evarce |s perd|rg W|l| l|e corpary as al 31
sl
Varc|, 2012 lor a per|od exceed|rg ore rorl| aga|rsl l|e Corpary as per l|e
records ra|rla|red ard cerl|l|ed oy l|e Corpary/Reg|slrar ard Trarsler Agerls ol l|e Corpary.
we lurl|er slale l|al suc| corp||arce |s re|l|er ar assurarce as lo l|e lulure v|ao|||ly ol l|e corpary ror l|e ell|c|ercy or ellecl|veress W|l| W||c| l|e
raragererl |as corducled l|e alla|rs ol l|e corpary.
For HAhAPAJ N.P.$uPE$h & 6o
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 001931S
For 00PALA|YEP AN0 $ußPAHAN|AN
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 0009o0S
6A N P $uPE$h
Parlrer
Veroers||p |o. 021oo1
6A $. $uN0AP
Parlrer
Veroers||p |o. 202/25
|eW 0e||| : 23
rd
Vay, 2012
43
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
c. Serv|ce ol docurerls oy l|e Corpary or |ls reroers ard l|e Reg|slrar ol Corpar|es.
d. C|osure ol Reg|sler ol Veroers ard S|are Trarsler 6oo|s ol l|e Corpary.
e. |ol|ce ol 6oard Veel|rgs ard Corr|llee reel|rgs ol 0|reclors;
l. Corver|rg ard |o|d|rg ol l|e reel|rgs ol 0|reclors ard Corr|llees ol 0|reclors |rc|ud|rg pass|rg ol reso|ul|ors oy c|rcu|al|or;
g. T|e 23
rd
Arrua| 0erera| Veel|rg |e|d or 2/
l|
Augusl 2011.
|. Record|rg ard ra|rlerarce ol l|e r|rules ol l|e proceed|rgs ol 0erera| Veel|rgs ard Veel|rgs ol l|e 6oard ard corr|llees l|ereol.
|. Corsl|lul|or ol 6oard ol 0|reclors ard appo|rlrerl, rel|rererl ard re-appo|rlrerl ol d|reclors;
j. Appo|rlrerl ol C|a|rrar ard Varag|rg 0|reclor, w|o|e T|re 0|reclors ard ror-execul|ve 0|reclors ard l|e|r rerureral|or.
|. T|e 0|reclors d|sc|osed l|e|r |rleresls ard corcerrs |r corlracls ard arrargererls, s|are|o|d|rgs ard d|reclors||ps |r ol|er corpar|es ard |rleresls |r ol|er
erl|l|es ard l|e|r d|sc|osures |ave oeer roled ard recorded oy l|e 6oard.
|. Trarsler ard lrarsr|ss|or ol s|ares W|l||r l|e sl|pu|aled l|re ard |ssue ard de||very ol or|g|ra| ard dup||cale cerl|l|cales ol s|ares; deraler|a||zal|or/
reraler|a||zal|or ol s|ares;
r. 0ec|aral|or ard payrerl ol d|v|derd lo Equ|ly s|are|o|ders ard Prelererce S|are|o|ders.
r. T|e Corpary Was rol requ|red lo lrarsler ary arourl lo l|e lrveslor Educal|or ard Prolecl|or Furd dur|rg l|e currerl l|rarc|a| year;
o. lrveslrerlolCorpary'slurds|rc|ud|rg|rlercorporale|oarsard|rveslrerls.
p. Appo|rlrerl ard payrerl ol rerureral|or lo Slalulory Aud|lors.
q. Appo|rlrerl ol Cosl Aud|lors urder Secl|or 2336 ol l|e Acl.
r. T|e Corpary Was rol requ|red lo |eep |r aoeyarce r|g|ls lo d|v|derd dec|ared al l|e Arrua| 0erera| Veel|rg |e|d or 2/
l|
Augusl, 2011 as l|ere Was ro perd|rg
reg|slral|or ol lrarsler ol s|ares.
s. T|e Corpary |as rol |rv|led/accepled ary depos|ls la|||rg W|l||r l|e purv|eW ol Secl|or 58A ol l|e Acl dur|rg l|e l|rarc|a| year.
l. T|e Corpary |as rol rade ary secured oorroW|rgs dur|rg l|e l|rarc|a| year erded or 31
sl
Varc|, 2012.
u. T|e Corpary |as rol ooug|l oac| ary s|ares dur|rg l|e l|rarc|a| year.
v. T|e Corpary |as rol a|lered ary prov|s|ors ol |ls Verorardur ol Assoc|al|or or Arl|c|es ol Assoc|al|or dur|rg l|e l|rarc|a| year.
W. T|eCorpary|ascrealedaTrusl,rare|y,l|eProv|derlFurdolVRPLlor|lserp|oyees.T|eCorpary|asdepos|ledool|l|eerp|oyees'arderp|oyer's
corlr|oul|or W|l| l|e aoove Trusl W|l||r l|e prescr|oed l|re pursuarl lo Secl|or 418 ol l|e Acl.
x. T|ere Was ro prosecul|or |r|l|aled aga|rsl or s|oW cause rol|ce rece|ved oy l|e Corpary ard ro l|res or ary ol|er pur|s|rerl Was |rposed or l|e Corpary,
|ls 0|reclors ard oll|cers dur|rg l|e l|rarc|a| year lor ary ollerces urder l|e Acl.
2. we lurl|er reporl l|al l|e Corpary |as corp||ed W|l| l|e prov|s|ors ol l|e 0epos|lor|es Acl, 199o ard Regu|al|ors lrared l|ere urder W|l| regard lo deraler|a||zal|or/
reraler|a||sal|or ol secur|l|es ard recorc|||al|or ol records ol deraler|a||zed secur|l|es W|l| a|| secur|l|es |ssued oy l|e Corpary.
3. we lurl|er reporl l|al:
|. T|e Corpary |as corp||ed W|l| l|e requ|rererls ol Equ|ly L|sl|rg Agreererls erlered |rlo W|l| l|e 6oroay Sloc| Exc|arge Lld ard l|e |al|ora| Sloc|
Exc|arge ol lrd|a Lld. excepl l|al l|e 6oard ol 0|reclors does rol corpr|se ol l|e requ|red ruroer ol |rdeperderl d|reclors as per c|ause 49(l)(A)(||) ol l|e L|sl|rg
Agreererls.
||. T|e Corpary |as corp||ed W|l| l|e prov|s|ors ol Secur|l|es ard Exc|arge 6oard ol lrd|a (Suoslarl|a| Acqu|s|l|or ol S|ares ard Ta|eovers) Regu|al|ors, 199/
W|l| regard lo d|sc|osures ard ra|rlerarce ol records requ|red urder l|e Regu|al|ors.
|||. T|e Corpary |as corp||ed W|l| l|e prov|s|ors ol Secur|l|es ard Exc|arge 6oard ol lrd|a (Pro||o|l|or ol lrs|der Trad|rg) Regu|al|ors, 1992 W|l| regard lo
d|sc|osures ard ra|rlerarce ol records requ|red urder l|e Regu|al|ors.
4. lr our op|r|or ard lo l|e oesl ol our |rlorral|or ard accord|rg lo exp|aral|ors g|ver lo us oy l|e raragererl, We cerl|ly l|al, excepl l|e corpos|l|or ol l|e 6oard ol
0|reclors W|l| regard lo |rdeperderl 0|reclors, l|e Corpary |as corp||ed W|l| l|e 0PE gu|de||res or Corporale 0overrarce.
For u||as Kumar He||namogaru & Assoc|ates
Pracl|s|rg Corpary Secrelar|es
u||as Kumar He||namogaru
0ale: 18/0o/2012 Propr|elor
P|ace: Varga|ore CP |o. oo40
44
Annua| Peport 2011-12
N0TE$:
1. A member ent|t|ed to attend and vote at the Annua| 0enera| Heet|ng |s ent|t|ed to appo|nt a proxy
to attend and vote |nstead of h|mse|f and the proxy need not be a member of the company. The
proxy form shou|d be |odged W|th the company at |ts reg|stered off|ce, not |ater than forty-e|ght
hours before the t|me of commencement of the Annua| 0enera| Heet|ng.
2. Corporale reroers |rlerd|rg lo serd l|e|r aul|or|zed represerlal|ves lo allerd l|e Veel|rg
are requesled lo serd l|e|r ror|ral|or |eller approved oy corpelerl aul|or|ly aul|or|z|rg l|e|r
represerlal|ve lo allerd ard vole or l|e|r oe|a|l al l|e Veel|rg.
3. lr lerrs ol Arl|c|e 151 lo 153 ol l|e Arl|c|es ol Assoc|al|or ol l|e corpary, read W|l| Secl|or 25o ol l|e
Corpar|es Acl, 195o 0r. A.K.Ral| rel|res oy rolal|or |r l|e ersu|rg reel|rg ard oe|rg e||g|o|e ollers
||rse|l lor re-appo|rlrerl.
4. lr respecl ol appo|rlrerl/ re- appo|rlrerl ol l|e 0|reclors, a or|el resure corla|r|rg dela||s ol l|e
corcerred 0|reclors |s arrexed lo l||s rol|ce lor l|e |rlorral|or ol Veroers.
5. lr case ol jo|rl |o|ders allerd|rg l|e reel|rg ary suc| jo|rl |o|ders W|o |s ||g|er |r l|e order ol rares
|r l|e Reg|sler ol Veroers W||| oe erl|l|ed lo vole.
o. T|e Corpary |as rol|l|ed l|al l|e Reg|sler ol Veroers ard S|are Trarsler 6oo|s ol l|e Corpary W|||
rera|r c|osed lror 14
l|
Ju|y, 2012 lo 28
l|
Ju|y, 2012 (6ol| days |rc|us|ve) lor l|e purpose ol delerr|r|rg
l|e reroers e||g|o|e lor d|v|derd.
/. 0|v|derd or Equ|ly S|ares as recorrerded oy l|e 6oard ol 0|reclors, |l dec|ared al l|e reel|rg, W|||
oe payao|e lo l|ose reroers, W|ose rares appear or l|e Reg|sler ol Veroers ol l|e Corpary, aller
g|v|rg ellecl lo va||d s|are lrarslers |r p|ys|ca| lorr |odged W|l| l|e corpary al l|e c|ose ol ous|ress
|ours or 13
l|
Ju|y,2012 ard lo l|e oerel|c|a| oWrers as per l|e ||sls lurr|s|ed oy |S0L ard C0SL al l|e
c|ose ol ous|ress |ours or 13
l|
Ju|y. 2012
8. Re|evarl docurerls relerred lo |r l|e accorpary|rg |ol|ce are oper lor |rspecl|or oy l|e reroers al
l|e Reg|slered 0ll|ce ol l|e Corpary or a|| Wor||rg days dur|rg l|e ous|ress |ours ol l|e Corpary, up
lo l|e dale ol l|e Arrua| 0erera| Veel|rg.
9. Veroers are requesled lo prov|de l|e|r Fo||o |uroer a|org W|l| 6ar| Accourl |uroer, |are ard
Address ol l|e 6ar|/6rarc| lo V/s. L|r| lrl|re, Vuroa|, R&T Agerl ol l|e Corpary al C-13, Parra|a|
S||| V|||s Corpourd, L.6.S Varg, 6|ardup (wesl), Vuroa| ? 4000/8, |r respecl ol s|ares |e|d |r
p|ys|ca| rode ard lo l|e|r respecl|ve 0Ps lor s|ares |e|d |r 0eral rode lo erao|e l|e Corpary lo pay
l|e d|v|derd accord|rg|y.
10. Veroers |o|d|rg s|ares |r 0eral lorr are requesled lo |rl|rale |rred|ale|y ary c|arge |r l|e|r
address or oar| rardales lo l|e|r 0epos|lory Parl|c|parls W|l| W|or l|ey are ra|rla|r|rg l|e|r deral
|0TlCE |s |ereoy g|ver l|al l|e 24
l|
Arrua| 0erera| Veel|rg ol l|e Veroers ol
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted W||| oe |e|d al l|e Reg|slered
oll|ce ol l|e Corpary al Vudapadav, Kul|e|oor, P.0 V|a- Kal|pa||a, Varga|ore-5/5
030 or $aturday, 15
th
$eptember, 2012 at 4.00 p.m, lo lrarsacl, W|l| or W|l|oul
rod|l|cal|ors, as ray oe perr|ss|o|e, l|e lo||oW|rg ous|ress:
0P0|NAPY ßu$|NE$$
1. To rece|ve, cors|der ard adopl l|e aud|led 6a|arce S|eel as al 31
sl
Varc|,2012, l|e Slalererl ol Prol|l ard Loss lor l|e year erded or l|al dale
|rc|ud|rg Sc|edu|es l|erelo ard l|e reporls ol l|e 6oard ol 0|reclors, Aud|lors
ard Corplro||er ard Aud|lor 0erera| ol lrd|a l|ereor.
2. To corl|rr l|e payrerl ol 0|v|derd or Prelererce S|ares lor l|e F|rarc|a|
Year erded 31
sl
Varc|, 2012.
3. To dec|are 0|v|derd or Equ|ly S|ares lor l|e F|rarc|a| Year erded 31
sl
Varc|,
2012.
4. To appo|rl a 0|reclor |r p|ace ol 0r. A.K.Ral| W|o rel|res lror oll|ce oy rolal|or
ard oe|rg e||g|o|e ollers ||rse|l lor re-appo|rlrerl.
5. To l|x ard / or lo delerr|re l|e payrerl ol rerureral|or lo l|e Jo|rl Slalulory
Aud|lors ol l|e Corpary lo oe appo|rled oy l|e Corplro||er ard Aud|lor
0erera| ol lrd|a lor aud|l|rg l|e accourls ol l|e Corpary lor l|e F|rarc|a|
Year 2012-13.
$PE6|AL ßu$|NE$$
o. To appo|rl 0r. 0.C|ardrase||arar, W|o Was appo|rled as ar Add|l|ora|
0|reclor lror 10/01/2012, pursuarl lo Arl|c|e 140 ol l|e Corpary's Arl|c|es
ol Assoc|al|or ard W|o |o|ds oll|ce as Add|l|ora| 0|reclor urder l|e sa|d
arl|c|e ard secl|or 2o0 ol l|e Corpar|es Acl, 195o or|y up lo l|e dale ol l||s
reel|rg ard |r respecl ol W|or l|e Corpary |as rece|ved a rol|ce a|org
W|l| a depos|l ol ` 500/- pursuarl lo Secl|or 25/ ol l|e Corpar|es Acl, 195o
lror a reroer s|gr|ly|rg ||s |rlerl|or lo propose 0r. 0.C|ardrase||arar as a
card|dale lor l|e oll|ce ol 0|reclor ol l|e Corpary, ard |r l|al oe|a|l, lo cors|der
ard |l l|oug|l l|l, lo pass l|e lo||oW|rg reso|ul|or as ar ord|rary reso|ul|or:.
A0H N0T|6E
ßuy-back of
shares
¯PE$0LVE0 ThAT pursuarl lo l|e prov|s|ors ol Secl|or 25/, 2o0 ard
a|| ol|er app||cao|e prov|s|ors, |l ary, ol l|e Corpar|es Acl, 195o, 0r.
0.C|ardrase||arar oe ard |s |ereoy e|ecled ard appo|rled as a 0|reclor ol
l|eCorpary||ao|elorel|reoyrolal|or.¨
/. To cors|der ard, |l l|oug|l l|l, lo pass l|e lo||oW|rg reso|ul|or as a spec|a|
reso|ul|or:
¯PE$0LVE0 ThAT pursuarl lo Secl|or 31 ard ol|er app||cao|e prov|s|ors, |l
ary, ol l|e Corpar|es Acl, 195o, Arl|c|e 2/(1) ol Arl|c|es ol Assoc|al|or ol l|e
Corpary, oe ard |s |ereoy de|eled ard suosl|luled oy l|e lo||oW|rg:
¯|olW|l|slard|rg aryl||rg corla|red |r l|e Arl|c|es, l|e
Corpary s|a|| |ave l|e poWer lo purc|ase ary ol |ls oWr
s|ares or ol|er spec|l|ed secur|l|es as |l ray cors|der
recessary suojecl lo suc| ||r|ls upor suc| lerrs ard
cord|l|ors ard |r accordarce W|l| l|e prov|s|ors ol Secl|ors
//A, //6 ard ol|er app||cao|e prov|s|ors ol l|e Corpar|es
Acl, 195o lor l|e l|re oe|rg |r lorce ard l|e correspord|rg
prov|s|ors, ru|es, regu|al|ors ard gu|de||res or 6uy-oac| ol
Secur|l|es prescr|oed oy l|e Secur|l|es ard Exc|arge 6oard
ol lrd|a (SE6l) ard/or oy l|e Cerlra| 0overrrerl prov|ded
l|al,rol||rg |ere|r corla|red s|a|| oe deered lo allecl l|e
prov|s|ors ol Secl|ors 100 lo 104 ard Secl|or 402 ol l|e Acl
|rsolarasardlol|eexlerll|eyareapp||cao|e.¨
6y 0rder ol l|e 6oard
0|NE$h H|$hPA
3
rd
Ju|y, 2012 Corpary Secrelary
Peg|stered off|ce
Varga|ore Rel|rery ard Pelroc|er|ca|s L|r|led
Vudapadav,Kul|el|oorP.0V|aKal|pa||a,Varga|ore?5/5030
accourls. Veroers |o|d|rg s|ares |r p|ys|ca| lorr are requesled lo adv|se ary c|arge |r l|e|r address
|rred|ale|y lo l|e Corpary/ R&T Agerls, V/s L|r| lrl|re, Vuroa|.
11. T|e Secur|l|es ard Exc|arge 6oard ol lrd|a (SE6l) |as rardaled l|e suor|ss|or ol Perrarerl
Accourl |uroer (PA|) oy every parl|c|parl |r secur|l|es rar|el. Veroers |o|d|rg s|ares |r 0eral
lorr are, l|erelore, requesled lo suor|l l|e PA| lo l|e|r 0epos|lory Parl|c|parls W|l| W|or l|ey are
ra|rla|r|rg l|e|r deral accourls. Veroers |o|d|rg s|ares |r p|ys|ca| lorr car suor|l l|e|r PA| dela||s
lo l|e Corpary/ R&T Agerls, V/s L|r| lrl|re, Vuroa|.
12. Veroers |o|d|rg rore l|ar ore S|are Cerl|l|cale |r l|e sare rare urder d|llererl Ledger Fo||os are
requesled lo app|y lor corso||dal|or ol suc| lo||os ard serd l|e re|evarl s|are cerl|l|cale lo l|e sa|d
Reg|slrars.
13. T|e Corpary |as erlered |rlo ar Agreererl W|l| ool| l|e 0epos|lor|es v|z. |al|ora| Secur|l|es
0epos|lory L|r|led (|S0L) ard Cerlra| 0epos|lory Serv|ces (lrd|a) L|r|led (C0SL) lor cuslody ard
0eraler|a||zal|or ol secur|l|es. Veroers car ava|| ol l|e depos|lory lac|||l|es oy approac||rg ary ol l|e
0epos|lory Parl|c|parls ol |S0L or C0SL.
T|e Corpar|es (Arerdrerl) Acl, 1999 exlerded l|e ror|ral|or lac|||ly lo |rd|v|dua|s |o|d|rg s|ares
|r Corpar|es. Veroers |o|d|rg s|ares |r p|ys|ca| lorr ard |r parl|cu|ar W|ose |o|d|rg |s |r s|rg|e
rare, are requesled lo ava|| ol l|e aoove lac|||ly oy lurr|s||rg lo l|e Corpary l|e parl|cu|ars ol l|e|r
ror|ral|or. Veroers car doWr|oad prescr|oed |or|ral|or Forr al ¯lrveslor Serv|ces¨ ||r| ol l|e
Corpary Weos|le |.e. WWW.rrp|.co.|r.
14. Veroers are requesled lo reg|sler/ updale l|e|r era|| address W|l| l|e corpary oy serd|rg a Wr|ller
requesl du|y s|gred oy l|e reroer lo l|e V/s. L|r| lrl|re, Vuroa|, R&T Agerl ol l|e Corpary lor
rece|v|rg corrur|cal|or l|roug| l|e|r era|| address. Veroers ray a|so reg|sler / updale l|e|r era||
address W|l| l|e|r depos|lor|es.
15. T|e Corpary |as ||sled |ls s|ares al l|e 6oroay Sloc| Exc|arge L|r|led ard l|e |al|ora| Sloc|
Exc|arge ol lrd|a L|r|led. L|sl|rg lees |ave oeer pa|d lo ool| l|e Sloc| Exc|arges lor l|e l|rarc|a| year
2012-2013.
1o. T|e V|r|slry ol Corporale Alla|rs (v|de c|rcu|ar |os. 1//2011 ard 18/2011 daled Apr|| 21 ard Apr||
29, 2011 respecl|ve|y) |as urderla|er a '0reer |r|l|al|ve |r Corporale 0overrarce' ard a||oWed
corpar|es lo s|are docurerls W|l| |ls s|are|o|ders l|roug| e|eclror|c rode. Veroers are requesled
lo supporl l||s greer |r|l|al|ve oy reg|sler|rg/updal|rg l|e|r e-ra|| addresses, |r respecl ol s|ares |e|d
|r deraler|a||zed lorr W|l| l|e|r respecl|ve 0epos|lory Parl|c|parls ard |r respecl ol s|ares |e|d |r
p|ys|ca|lorr,W|l|l|eCorpary'sR&TAgerl,V/sL|r|lrl|re,Vuroa|.
45
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
ANNEXuPE T0 ThE N0T|6E
EXPLANAT0PY $TATEHENT PuP$uANT T0 $E6T|0N 1I3[2) 0F ThE 60HPAN|E$ A6T, 195ê
T|e lo||oW|rg Exp|aralory Slalererl sels oul a|| raler|a| lacls re|al|rg lo l|e Spec|a| 6us|ress rerl|ored |r l|e accorpary|rg |ol|ce:
|tem No.ê
0r. 0.C|ardrase||arar, |or-oll|c|a| parl-l|re lrdeperderl 0|reclor or l|e 6oard ol 0|0C (l|e parerl Corpary) Was ror|raled oy 0|0C |r lerrs ol C|ause o.1 ol l|e 0u|de||res or Corporale 0overrarce ol Cerlra|
Puo||c Seclor Erlerpr|ses (CPSE) |ssued oy 0eparlrerl ol Puo||c Erlerpr|ses (0PE), 0overrrerl ol lrd|a. 0r 0. C|ardrase||arar W|o Was appo|rled as ar Add|l|ora| 0|reclor W.e.l. 10.01.2012 urder Arl|c|e 140 ol
Arl|c|es ol Assoc|al|or ol l|e Corpary read W|l| Secl|or 2o0 ol l|e Corpar|es Acl, 195o. 0r. 0.C|ardrase||arar |o|ds oll|ce up lo l|e dale ol l|e ersu|rg Arrua| 0erera| Veel|rg. T|e Corpary |as rece|ved a rol|ce
logel|er W|l| a depos|l ol Rs.500/- lror a reroer urder Secl|or 25/ ol l|e Corpar|es Acl, 195o, propos|rg ||s card|dalure lor l|e oll|ce ol 0|reclor. Accord|rg|y, l|e 0|reclors recorrerd l|e reso|ul|or sel oul |r l||s
|ler lor your approva|. |ore ol l|e 0|reclors, excepl 0r. 0.C|ardrase||arar |s corcerred or |rleresled |r l||s reso|ul|or.
|tem No. I
VRPL, oe|rg a ||sled Cerlra| Puo||c Seclor Erlerpr|se (CPSE) s|a|| ao|de oy l|e gu|de||res |ssued oy 0ovl. ol lrd|a lror l|re lo l|re. Pursuarl lo 0ll|ce Verorardur |o.0PE/14(24)/2011-F|r daled 2o
l|
Varc|, 2012
0eparlrerl ol Puo||c Erlerpr|se, 0overrrerl ol lrd|a, |as adv|sed a|| CPSEs lo arerd l|e|r Arl|c|es ol Assoc|al|or lo prov|de lor ouyoac| ol s|ares, |l suc| prov|s|or does rol ex|sl |r l|e|r Arl|c|es. S|rce l|e ex|sl|rg
Arl|c|es ol Assoc|al|or ol your Corpary does rol corla|r ary prov|s|ors re|al|rg lo ouyoac| ol s|ares, l|e Arl|c|es ol Assoc|al|or are proposed lo oe arerded lo prov|de lor ouyoac| ol s|ares. Accord|rg|y, l|e ex|sl|rg
Arl|c|e 2/(1) |s proposed lo oe de|eled ard s|a|| oe suosl|luled |r l|e rarrer sel oul |r |ler / ol l|e accorpary|rg |ol|ce.
Your 0|reclors recorrerd l|e Spec|a| Reso|ul|or lor l|e approva| ol l|e reroers. |ore ol l|e 0|reclors are |rleresled or corcerred |r l||s reso|ul|or.
Cop|es ol l|e Verorardur ard Arl|c|es ol Assoc|al|or ol l|e Corpary are ava||ao|e lor |rspecl|or oy l|e reroers dur|rg ous|ress |ours or ary Wor||rg day uplo l|e dale ol l|e Arrua| 0erera| Veel|rg.
0ETAlL$0FThE0lPECT0P$'$EEKlhCAPP0lhTHEhT/PEAPP0lhTHEhTATThE24
th
Ahh0ALCEhEPALHEETlhC
Name of 0|rector 0r.A.K.Path 0r. 0.6handrasekharam
0ale ol 6|rl| 09-01-1949 14-03-1948
0ale ol Appo|rlrerl/ Reappo|rlrerl 1o-02-2010 10-01-2012
Experl|se |r spec|l|c lurcl|ora| areas Preserl|y, 0r.A.K.Ral| |s C|a|rrar ard Prolessor ol Cerlre lor C0 & SR al lVl,
|eW 0e|||. le Was ar lAS 0ll|cer ard |as pul |r over 35 years ol serv|ce |r l|e
0overrrerl ol lrd|a. le |as served as a 0|reclor |r SAlL, Rl|L, |V0C, Kl0CL
ard VEC0| dur|rg ||s lerure as Add|l|ora| Secrelary ard F|rarc|a| Adv|sor |r
l|e V|r|slry ol Slee|, Secrelary, V|r|slry ol lR0, 0overrrerl ol lrd|a. le Was l|e
arc||lecloll|e|ardrar|o|||¯R|g|lolC|||drerloFreeardCorpu|soryEducal|or
6|||,2008¨.
0r. 0. C|ardrase||arar |s a Prolessor |r l|e 0eparlrerl ol Earl| Sc|erces, lrd|ar
lrsl|lule ol Tec|ro|ogy 6oroay. le oola|red ||s V.Sc. degree |r App||ed 0eo|ogy
|r 19/2 ard P|.0. (T|es|s: Teclor|sr ard Vo|car|sr ol l|e 0ecar Traps) |r 19/9.
le |s Wor||rg |r l|e l|e|ds ol vo|caro|ogy, grourdWaler po||ul|or ard geol|err|cs
over l|e pasl 30 years. w|l| ||s vasl exper|erce |r geol|err|cs, lrd|ar lrsl|lule
ol Tec|ro|ogy 6oroay ercouraged ||r lo |rcuoale V/s 0eoSyrd|cale PoWer
Pr|vale Lld., l|e or|y geol|erra| corpary |r lrd|a. le |s currerl|y l|e C|a|rrar
ol V/s 0eoSyrd|cale PoWer Pr|vale Lld, lrd|a. le |s a|so a reroer ol l|e Adv|sory
corr|llee ol l|e 0|0C Erergy Cerlre.
0ua||l|cal|or 0oclorale 0egree |r 6us|ress Adr|r|slral|or. V.Sc 19/2 llT 6oroay App||ed 0eo|ogy, P|.0 19/9 llT 6oroay (T|es|s: Teclor|sr
ard Vo|car|sr ol l|e 0eccar Traps)
L|sl ol ouls|de 0|reclors||ps |e|d. 1. Coa| lrd|a L|r|led 1. 0eosyrd|cale PoWer Pr|vale L|r|led
2. Va|arad| Coa|l|e|ds L|r|led 2. lrd|ar Rare Earl|s L|r|led
3. weslerr Coa|l|e|d L|r|led
4. 0|| ard |alura| 0as Corporal|or L|r|led
C|a|rrar/ Veroer ol l|e Corr|llees ol l|e
6oard ol 0|reclors ol l|e Corpary
1. Aud|l Corr|llee- Veroer 1. Aud|l Corr|llee- Veroer
2. S|are|o|ders/ |rveslor 0r|evarce Corr|llee- Veroer 2. S|are|o|ders/ lrveslor 0r|evarce Corr|llee - Veroer
3. lurar Resource Varagererl Corr|llee- C|a|rrar
4. Rerureral|or Corr|llee- C|a|rrar
C|a|rrar/ Veroer ol l|e Corr|llees ol 0|reclor
ol ol|er Corpar|es |r W||c| |e |s a 0|reclor
1. Coa| lrd|a L|r|led
Aud|l Corr|llee (Veroer)
1. 0|| ard |alura| 0as Corporal|or L|r|led
Aud|l Corr|llee (Veroer)
1. Va|arad| Coa|l|e|ds L|r|led - Aud|l Corr|llee (Veroer)
1. Coa| lrd|a L|r|led
Corporale 0overrarce Corr|llee (C|a|rrar)
4. Va|arad| Coa|l|e|ds L|r|led
Corporale 0overrarce Corr|llee (C|a|rrar)
5. Coa| lrd|a L|r|led
lrveslor 0r|evarce Corr|llee (C|a|rrar)
o. Va|arad| Coa|l|e|ds L|r|led
lurar Resource Varagererl Corr|llee (Veroer)
S|are|o|d|rg |r VRPL as or 31
sl
Varc|, 2012 ||| |||
A6$TPACT 0F TEPH$ 0F APP0lhTHEhT 0F $hPl P.P.0PA0hYA, 0lPECT0P (TEChhlCAL) Ah0 $hPl Vl$hh0 ACPAWAL, 0lPECT0P (FlhAhCE) 0F ThE
C0HPAhYP0P$0AhTT0$ECTl0hJ020FThEC0HPAhlE$ACT,195ô
a) Pay: lr l|e pay sca|e ol ` o5,000?/5,000.
o) 0.A: lr accordarce W|l| reW l0A sc|ere spe|l oul |r l|e 0epl. ol Puo||c Erlerpr|se, 0V daled 2o.11.2008 ard 02.04.2009.
c) Res|derl|a|accorrodal|or:Corpary'soWraccorrodal|or.
d) Corveyarce: Erl|l|ed lor l|e slall car lor pr|vale use up lo 1000 |r al 0e|||, C|erra|, Ko||ala, 6arga|ore, & lyderaoad ard /50 Kr a|| ol|er c|l|es.
e) 0l|ers: Leave, Corlr|oulory Prov|derl Furd, 0ralu|ly, producl|v|ly L|r|ed lrcerl|ves, Ved|ca| lac|||l|es, lrave| a||oWarce, Leave lrave| Corcess|or, 0|sao|||ly |eave, lWo C|uo reroers||p elc. |r accordarce W|l| VRPL ru|es.
l) Per|od: 5 years or l||| l|e superarrual|or or url|| lurl|er orders W||c|ever |s ear||er. Terr|ral|or W|l| 3 rorl|s rol|ce lror e|l|er s|de or or payrerl ol l|ree rorl|s sa|ary |r ||eu l|ereol.
4o
Annua| Peport 2011-12
F|VE YEAP PEPF0PHAN6E AT A 0LAN6E
[` |n H||||on)
2011-12 2010-11 2009-10 2008-09 200I-08
what we 0We
S|are Cap|la| 1/,5/2.5/ 1/,o18.50 1/,o18.50 1/,o18.31 1/,o18.21
Reserves 54,/19.3/ 4/,o/0.51 38,34/.02 29,o/5.o8 20,211.22
Net worth I2,291.94 ê5,289.01 55,9ê5.52 4I,293.99 3I,829.43
6orroW|rgs o1,831.10 15,5o9./5 1o,9o3.9/ 19,8o8.04 20,580.o8
0elerred Tax L|ao|||ly 4,531.40 3,4/1.o4 o,o02.22 5,o85.53 5,30/./9
T0TAL 138,ê54.44 84,330.40 I9,531.I1 I2,84I.5ê ê3,I1I.90
what we 0Wn
F|xed Assels (lrc|ud|rg Cap|la| wlP) 1o1,134.49 130,8/1.85 92,954.50 /8,390.04 /5,053.0/
Less : 0eprec|al|or 49,o44.32 45,301.3o 41,428.08 3/,oo1.38 33,988.12
111,490.1I 85,5I0.49 51,52ê.42 40,I28.êê 41,0ê4.95
lrveslrerls 422.80 948.25 1o,23o.o2 o,428.93 o,451.3o
|el Currerl Assels 2o,/41.4/ (2,188.34) 11,/o8.o/ 25,o89.9/ 1o,201.59
T0TAL 138,ê54.44 84,330.40 I9,531.I1 I2,84I.5ê ê3,I1I.90
|ncome
Sa|es (|el 0l Exc|se 0uly) 53/,o33.43 389,5oo./3 318,851./4 382,43/.41 325,/51.28
0l|er lrcore 3,543.09 2,1/1.83 2,915.12 1,8oo.41 /40./3
Exc|arge F|uclual|or (rel) : 0a|r - 184.48 3,903.9/ - 1,3/4.8o
lrcrease/ (0ecrease) |r sloc|s 1,502.05 8,152./1 2,958.// (5,9o8.5o) 1,048.01
T0TAL 542,êI8.5I 400,0I5.I5 328,ê29.ê0 3I8,335.2ê 328,914.88
Expend|ture
RaW Valer|a|s 512,3o/.50 3/2,193.3/ 302,308./4 345,12/.oo 300,840.43
0peral|rg experses 2,431.o1 2,2/0.15 1,o/9./o 1,280.2o 1,335.52
Sa|es Tax & Exc|se 0uly or Sloc|s (rel) (o0o.1o) o4/.// 894.23 559.01 2,242.82
Sa|ar|es & 0l|er Experses 1,o0o.42 1,845.35 958.95 1,130.30 1,248.1/
Exc|arge F|uclual|or (rel) : Loss o,482.20 - - o,104.9o -
Adr|r|slral|or & 0l|er Experses /89.4/ /8o.2/ 821.22 /58.83 oo2.04
lrleresl 2,0oo.// 1,043./3 1,154.98 1,434.51 1,4/5.89
0eprec|al|or 4,338./3 3,914.19 3,893.2/ 3,823.1o 3,//8.18
T0TAL 529,4Iê.54 382,I00.83 311,I11.15 3ê0,218.ê9 311,583.05
Prof|t ßefore Tax 13202.03 1I3I4.92 1ê918.45 1811ê.5I 1I331.83
Prov|s|or lor Taxal|or 4,11o.25 5,o08.59 5,/94.o8 o,191.13 4,o09.55
Prof|t After Tax 9085.I8 11Iêê.33 11123.II 11925.44 12I22.28
0|v|derd 1,/52.o0 2,103.13 2,103.13 2,103.49 2,103.49
0|v|derd 0|slr|oul|or Tax 284.32 341.18 349.30 35/.49 35/.49
0RV ($/oo|) 5.o0 5.9o 5.51 5.38 o.92
V|dd|e 0|sl|||ale Y|e|d (|r º) 53.00 53.09 54.23 52.39 52./9
Cap|la| Experd|lure 30,2o2.o4 39,89o./8 14,139.1o 2,813.92 933.09
HAN0AL0PE PEF|NEPY AN0 PETP06hEH|6AL$ L|H|TE0
Peg|stered 0ff|ce : Vudapadav, Kul|el|oor P.0. V|a. Kal|pa||a, Varga|ore - 5/5 030, Karrala|a.
ATTEN0AN6E $L|P
24
th
Annua| 0enera| Heet|ng
15
th
$eptember, 2012
Pegd. Fo||o No.
*0.P |d
No. of $hares he|d *6||ent |d
l cerl|ly l|al l ar a reg|slered S|are|o|der/ Proxy lor l|e Reg|slered S|are|o|der ol l|e Corpary.
l |ereoy record ry preserce al l|e 24
l|
Arrua| 0erera| Veel|rg ol l|e Corpary |e|d or $aturday, 15
th
$eptember, 2012 at 4.00 p.m al Vudapadav, Kul|el|oor P.0. V|a.
Kal|pa||a , Varga|ore - 5/5 030, Karrala|a.
Hembers'|Proxy'sName|nß|ockLetters Hembers'|Proxy's$|gnature
|ole : P|ease l||| l||s Allerdarce S||p ard lA|0 lT 0VER AT TlE E|TRA|CE 0F TlE VEETl|0 lALL
¯App||cao|e lor |rveslors |o|d|rg s|ares |r e|eclror|c lorr.
HAN0AL0PE PEF|NEPY AN0 PETP06hEH|6AL$ L|H|TE0
Peg|stered 0ff|ce : Vudapadav, Kul|el|oor P.0. V|a. Kal|pa||a, Varga|ore 5/5 030, Karrala|a.
F0PH 0F PP0XY
24
th
Annua| 0enera| Heet|ng
15
th
$eptember, 2012
Pegd. Fo||o No. *0.P |d
No. of $hares he|d *6||ent |d
l/we ol
oe|rg a Veroer /Veroers ol l|e aoove rared Corpary |ereoy appo|rl ol
or la|||rg ||r ol as
ry/our proxy lo vole lor re/us or ry/our oe|a|l al l|e TWerly Fourl| Arrua| 0erera| Veel|rg ol l|e Corpary lo o e |e|d or $aturday, 15
th
$eptember, 2012 at 4.00 p.m
ard al ary adjourrrerl l|ereol.
S|gred l||s day ol 2012. (S|gralure)
¯App||cao|e lor |rveslors |o|d|rg s|ares |r e|eclror|c lorr.
|ole: T||s lorr |r order lo oe ellecl|ve s|ou|d oe du|y slarped, corp|eled ard s|gred ard rusl oe depos|led al l|e Reg|slered 0ll|ce ol l|e Corpary, rol |ess l|ar 48 |ours
oelore l|e l|re ol corrercererl ol l|e reel|rg.
All|x ` 1
Reverue
Slarp
doc_662702912.pdf
Mangalore Refinery & Petrochemicals Limited (MRPL) Annual Report 2011-12
1
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
ß0AP0 0F 0|PE6T0P$
S|r| Sud||r Vasudeva
S|r| P.P. upad|ya
S|r| V|s|ru AgraWa|
S|r| V|ve| Kurar
S|r| K. Vura||
0r. A.K.Ral|
S|r|.6 Rav|rdraral|
0r. 0. C|ardrase||arar
S|r| A.K. lazar||a
S|r| K.S. Jaresl|r
C|a|rrar
Varag|rg 0|reclor & 0|reclor (Tec|r|ca|)
0|reclor (F|rarce)
0|reclor
0|reclor
lrdeperderl 0|reclor
lrdeperderl 0|reclor
lrdeperderl 0|reclor
Spec|a| lrv|lee
Spec|a| |rv|lee
60HPANY $E6PETAPY
S|r| 0|res| V|s|ra
$0L|6|T0P$ & A0V06ATE$
V/s. Vu||a & Vu||a & Cra|g|e 6|url & Caroe, So||c|lors.
V/s. A|aya Lega|, Advocales.
PE0|$TEPE0 0FF|6E
Vudapadav, Kul|el|oor,
P.0 V|a Kal|pa||a,
Varga|ore- 5/5 030, Karrala|a
Te|. |o.: 0824-22/0400
weos|le.: WWW.rrp|.co.|r
J0|NT $TATuT0PY Au0|T0P$
V/s. Va|araj |.R. Sures| & Co,
C|arlered Accourlarls
V/s. 0opa|a|yer & Suorarar|ar,
C|arlered Accourlarls
60$T Au0|T0P
V/s. Vus|o & Assoc|ales
Cosl Accourlarls
ßANKEP$
Slale 6ar| ol lrd|a,
6ar| ol 6aroda,
Purjao |al|ora| 6ar|,
ur|led 6ar| ol lrd|a,
Carara 6ar|,
Corporal|or 6ar|,
l06l 6ar| Lld,
C|l|oar| |.A
60NTENT$ PA0E N0.
0|reclors'Reporl....................................................... 2
Varagererl0|scuss|orardAra|ys|sReporl........................................ 9
C&A0'sCorrerls...................................................... 11
Aud|lors'Reporl..................................................... 12
6a|arceS|eel....................................................... 14
Prol|l&LossAccourl................................................... 15
Cas|F|oWSlalererl.................................................... 1o
|oles................................................................ 1/
Reporl or Corporale 0overrarce............................................................................. 35
Reporl or Secrelar|a| Aud|l........................................................................................ 42
|ol|ce lor Arrua| 0erera| Veel|rg............................................................................ 44
Aoslracl ol Terrs ard Cord|l|ors ol Appo|rlrerl ol 0(T) ard 0(F) ....................... 45
F|veYearPerlorrarceal0|arce.............................................. 4o
|NVE$T0P PELAT|0N 6ELL
HAN0AL0PE PEF|NEPY AN0 PETP06hEH|6AL$ L|H|TE0
z Vudapadav, Kul|el|oor,
P.0 V|a Kal|pa||a,
Varga|ore- 5/5 030, Karrala|a
Te|. |o.: 0824-22/0400, Fax |o.: 0824-22/1404
z L0F, Vercarl||e louse
15,K.0.Varg,|eW0e|||?110001
Te| : 011-234o3100 Fax : 011-234o3201
E-ra||: |rveslorCrrp||rd|a.cor
weos|le.: WWW.rrp|.co.|r
z H|s. L|NK |NT|HE |N0|A PVT.LT0 [P&T Agent)
C-13 Parra|a| S||| V|||s Corpourd,
L.6.S Varg, 6|ardup (wesl),
Vuroa|- 400 0/8
Te|.: 022-259o3838 / 2594o9/0
Fax |o.: 022-2594o9o9
E-ra||: rrp||rcC||r||rl|re.co.|r
weos|le.: WWW.||r||rl|re.co.|r
2
Annua| Peport 2011-12
0ear Veroers,
0r oe|a|l ol l|e 6oard ol 0|reclors, l la|e p|easure |r preserl|rg l|e 24
l|
Arrua|
reporl or l|e perlorrarce ol your corpary, logel|er W|l| l|e Aud|l reporl ard
Aud|led accourl lor l|e year erded 31/03/2012.
ll |s a raller ol |rrerse sal|slacl|or l|al l|e perlorrarce ol your corpary ool|
or l|e P|ys|ca| as We|| as F|sca| pararelers crealed cerla|r reW oerc|rar|s ol
exce||erce dur|rg l|e year 2011-12.
Vajor ||g|||g|ls ol your Corpary's perlorrarce dur|rg l|e year are erureraled
oe|oW:
1. l|g|esl ever Rel|rery crude l|rupul al 12.82 VVTPA.
2. l|g|esl ever Turrover al ` 5/2,0o8 V||||or.
3. l|g|esl ever Exporl Turrover al ` 234,183 V||||or.
4. LoWesl ever Erergy corsurpl|or |rdex ol 5/.92 V6|.
5. |arep|ale capac|ly ol l|e rel|rery |as oeer er|arced lo 15 VVTPA W|l|
successlu| corr|ss|or|rg ol 3 VVTPA Crude ard Vaccur 0|sl|||al|or ur|l lll
(C0u&V0u lll) ol P|ase-lll projecl or 29/03/2012.
o. w|l| Corr|ss|or|rg ol C0u ard V0u-lll oelore 31/03/2012 your Corpary |s
e||g|o|e lor oerel|ls urder Secl|or 80(l6) ol l|e lrcore Tax Acl, 19o2 lor P|ase-
lll projecl.
/. 0overrrerl ol Karrala|a |as sarcl|ored ar allracl|ve Tax lrcerl|ve pac|age
lor l|e P|ase-lll projecl.
8. 0|ese| lydro Trealer/ lydroger 0ereral|or/ Co|er 0as 0|| lydro Trealer ur|ls
Were rec|ar|ca||y corp|eled oelore 31/03/2012.
9. 0PEAdjudgedperlorrarceolyourcorparyas¯Exce||erl¨lorl|eyear2010-
11 aga|rsl l|e Vou largel.
1.1 F|NAN6|AL PEPF0PHAN6E
(` lr V||||or)
Year ended
31
st
Harch, 2012
Year ended
31
st
Harch, 2011
Turnover 5I2,0ê8 43I,23ê
Prol|l oelore 0eprec|al|or
lrleresl ard Tax
19,o08 22,332
lrleresl ard F|rarce C|arges 2,0o/ 1,04/
0ross Prol|l aller |rleresl oul oelore
0eprec|al|or ard Tax
1/,541 21,285
0eprec|al|or ard Arorl|zal|ors 4,339 3,914
Prof|t ßefore Tax 13,202 1I,3I1
Prov|s|or lor Taxal|or 4,11o 5,o05
Prof|t after Tax 9,08ê 11,Iêê
6a|arce ol Prol|l/(Loss) oroug|l lorWard
lror prev|ous year
42,998 33,959
$urp|us ava||ab|e for appropr|at|on 52,0I4 45,I2I
Appropr|at|ons:
Proposed d|v|derd or Prelererce
S|ares (` 9,18o)
0.000 0.00
Proposed 0|v|derd or Equ|ly S|ares 1,/53 2,103
Tax or 0|v|derd 284 341
Trarsler lo Cap|la| Rederpl|or Reserve 4o -
Trarsler lo 0erera| reserve - 295
ßa|ance carr|ed to ßa|ance $heet 49,991 42,988
1.2 0|V|0EN0
T|e 6oard ol 0|reclors ol your corpary |s p|eased lo recorrerd d|v|derd
payoul ol 10º (` 1/- per equ|ly s|are) ol ` 10/- eac| lu||y pa|d-up |r v|eW ol
l|e orgo|rg projecl |rveslrerl ard l|e reduced prol|lao|||ly. T||s W||| aosoro `
2,03o V||||or |rc|ud|rg ` 284 V||||or as d|v|derd d|slr|oul|or lax.
0|PE6T0P$'PEP0PT
1.3 0PEPAT|0NAL PEPF0PHAN6E
T|e l|g|esl ever Rel|rery l|rupul Was 12.82 VVTPA lor l|e year 2011-12
corpared lo 12.o4 VVTPA dur|rg l|e prev|ous year. 0ur|rg l|e |asl l|sca|, your
Corpary|ascorp|eledl|erevarpol|lsC0u/V0u?lur|lasWe||aslydro
Crac|er ur|l-ll. Your corpary, |eep|rg |r v|eW l|e process requ|rererl ard lo
ra|rla|r ||g| ul|||zal|or ol |ls assels, |as p|arred l|ese revarps a|org W|l| l|e
lurrarourd s|uldoWrs dur|rg l|e year 2011-12. 0ur|rg l|e year 2011-12, your
corpary |as processed l|ree reW crudes |.e., Agoar|, C0C0, Ve|||la| ard
corl|rues lo expard |ls crude oas|el.
1.4 EXP0PT$
Your corpary |as ac||eved ||g|esl ever exporl lurrover ol ` 234,183 V||||or
dur|rg l|e year 2011-12 oy exporl|rg producls |||e Volor Sp|r|l (VS), |ap|l|a,
V|xed Xy|ere, l|g| Speed 0|ese| (lS0), Jel lue| ard Fue| 0|| (F0).
Your Corpary corl|rues lo |ave l|e Terr exporl corlracl lor l|e supp|y ol
pelro|eur producls lo Vaur|l|us W|l| l|e Slale Trad|rg Corporal|or (STC),
Vaur|l|us.
lr l|e g|ooa| corpel|l|ve rar|el, your corpary |as secured |ls p|ace oy
exporl|rg l|e pelro|eur producls ard corl|rues lo exp|ore opporlur|l|es lor |ls
groWl|.
1.5 $AFETY PEPF0PHAN6E
T|e year 2011-12 W|lressed successlu| ard sale corr|ss|or|rg ol C0u/V0u-
lll ol P|ase-lll. Your corpary |as a|so recorded |orgesl acc|derl lree per|od
ol 1oo2 days dur|rg l|e year oy surpass|rg prev|ous oesl record ol 1301 days
dur|rg l|e year.
Your corpary |s corr|lled loWards |rparl|rg corl|ruous lra|r|rg |r l|re &
salely pracl|ces. 0ur|rg l|e year urder rev|eW, 885 |os. ol P|arl erp|oyees
ard /,184 |os. ol corlracl erp|oyees Were lra|red |r F|re ard lrduslr|a| Salely.
Erp|oyees ol your corpary Were a|so lra|red or salely aspecls ard pracl|ces
dur|rg l|e year.
Your corpary |as corducled Vu|l|d|sc|p||rary lrlerra| Salely Aud|l ard
0lS0 exlerra| surpr|se aud|l Was a|so corducled dur|rg l|e year ard |ls
recorrerdal|ors are oe|rg corp||ed W|l|.
1.ê ENV|P0NHENT HANA0EHENT
Your corpary oe||eves |r ¯Perlorr oeyord Corp||arce¨ lor Prolecl|or ol
l|e Erv|rorrerl. Your Corpary |s lS0 14001:2004 cerl|l|ed corpary,
aul|erl|caled oy TuV R|e|r|ard.
Your Corpary |as urderla|er lo||oW|rg rajor |r|l|al|ves lor 0reerer
Erv|rorrerl dur|rg l|e |asl l|sca| :
? wel A|r 0x|dal|or ur|l |s urder lr|a| lo lreal Sperl Causl|c ard lo |rprove
l|e wwTP perlorrarce.
? Ar advarced Reverse 0sros|s P|arl |s oe|rg corr|ss|ored lor
rax|r|z|rg l|e quarl|ly ol lrealed ell|uerl recyc|e.
? Cordersale Recovery ur|l corr|ss|ored |r C0u-1 resu|l|rg reducl|or |r
lres| Waler corsurpl|or. S|r||ar ur|ls are p|arred lor ol|er process ur|ls
as We||.
? Secord corl|ruous aro|erl a|r qua||ly ror|lor|rg sysler Was |rsla||ed |r
l|e rel|rery lo ror|lor l|e aro|erl a|r qua||ly.
? Ar exlerra| agercy ror|lors Aro|erl A|r 0ua||ly al / |ocal|ors |r ard
arourd l|e rel|rery.
? A C|osed 6|orered|al|or ur|l |s oe|rg corr|ss|ored |r l|e rel|rery lo
lreal o||y s|udge gereraled |r l|e rel|rery.
? V0C Er|ss|or ror|lor|rg |s oe|rg dore al /4,000 po|rls |r l|e rel|rery
l|roug| repuled agercy ard correcl|ve reasures la|er lo ellecl|ve|y
r|r|r|ze l|e sare.
? Corrur|ly aWareress prograrre Was orgar|zed |r l|e re|g|oor|rg
v|||ages |r assoc|al|or W|l| Karrala|a Slale Po||ul|or Corlro| 6oard.
? lr a ur|que parlrers||p W|l| Karrala|a Foresl 0eparlrerl, your corpary
|s deve|op|rg greer oe|l |r 120 acres ol |ard. As a l|rsl slage, 40,000
sap||rgs are oe|rg groWr |r ar olls|le rursery oy l|e Foresl 0eparlrerl,
W||c| W||| oe |aler lrarsp|arled |r l|e greer oe|l.
3
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
1.ê.1 Env|ronmenta| Performance:
Your corpary corl|rues lo corp|y W|l| l|e Erv|rorrerla| Regu|al|ors ard
a|so ra||rg |ls oesl ellorls lor prolecl|or ol erv|rorrerl oy la||rg var|ous
sleps.
Fo||oW|rg rajor acl|ors Were la|er lo preverl Waler ard a|r po||ul|or.
water:
x Ell|uerl lrealrerl p|arl operal|or Was rorra| l|roug|oul l|e year.
x Trealed ell|uerl qua||ly Was We|| W|l||r l|e prescr|oed ||r|ls.
x SeaWaler qua||ly ror|lor|rg carr|ed oul oy V/s. Co||ege ol F|s|er|es
|rd|cales ro adverse ellecl or l|e rar|re erv|rorrerl due lo lrealed
ell|uerl d|sc|arge.
x Average lrealed ell|uerl recyc|e lo coo||rg loWers dur|rg l|e year Was
aooul /4º
x Trealed ell|uerl aller rax|rur recyc|e ard W|l||r l|e sl|pu|aled slardards
are d|sc|arged |rlo sea al a d|slarce ol /00 r ard al a depl| ol o.5r
l|roug| d|llusers lor rax|rur d|spers|or & d||ul|ors. lrdeperderl
goverrrerl agercy ror|lors l|e rar|re eco|ogy al l|e oulla|| po|rl |r l|e
sea or a lorlr|g|l oas|s. T||| dale l|ere |as oeer ro adverse ellecl or l|e
rar|re eco-sysler.
x Coo||rg loWers are operaled al grealer l|ar o Cyc|es ol corcerlral|or,
l||s reasure |as oroug|l doWr l|e coo||rg loWer o|oW doWr. Rel|rery
pracl|ces l|e cascade o|oW doWr sysler |r l|e coo||rg loWers lo corserve
Waler ard c|er|ca|s.
A|r:
x Var|ous erergy corserval|or sc|eres are |rp|ererled lor reduc|rg a|r
er|ss|or.
x ul|||zal|or ol |oW su|p|ur (|ess l|ar 1º S) lue| o|| |r lurraces, W|l| average
su|p|ur corlerl, |ess l|ar 1º ra|rla|red |rlo lue| o||.
x Vax|rur ul|||zal|or ol u|lra LoW Su|p|ur Fue| 0as (|ess l|ar 10 ppr S) |r
lurraces.
x SRu ur|ls are rurr|rg W|l| rore l|ar 99º ell|c|ercy.
x Aro|erl a|r qua||ly ror|lor|rg oe|rg dore |rs|de ard ouls|de l|e Rel|rery
oy repuled exlerra| agercy as per rev|sed |al|ora| Aro|erl A|r 0ua||ly
Vor|lor|rg Slardard sel oy V|r|slry ol Erv|rorrerl & Foresls (VoEF).
x Regu|ar ror|lor|rg |as r|r|r|zed l|ar|rg.
x 0a||y average Su|p|ur d|ox|de er|ss|ors lror l|e rel|rery |epl oereal|
l|e prescr|oed ||r|ls ol 40.0 T/day.
1.ê.2 $o||d waste Hanagement and |mp|ementat|on of $upreme 6ourt
Hon|tor|ng 6omm|ttee [$6H6) Pecommendat|ons:
x 125 VT ol sperl acl|valed caroor Was d|sposed oll.
x 6|orered|al|or ol 2000 Torres ol o||y s|udge |as oeer corp|eled
successlu||y.
1.ê.3 No|se Po||ut|on 6ontro|:
Acousl|c erc|osures are prov|ded lor 00 sels al Sarapady ard APVC purp|rg
slal|or.
1.ê.4 Future P|ans:
x ul|||zal|or ol L|qu|l|ed |alura| 0as (L|0) as a|lerral|ve lue| |r l|e Rel|rery.
x VapourrecoverySyslerlor||g|l|ydrocaroorsloragelar|s|rP|ase?lll
Rel|rery Projecl.
x V0C Recovery sysler |r wasle waler Trealrerl P|arl (wwTP) ol P|ase- lll.
1.I HAPKET|N0
0omest|c Harket|ng of Products
Your Corpary corl|rues lo |rcrease |ls rar|el s|are |r l|e d|recl sa|es
segrerl ol pelro|eur producls |r l|e slale ol Karrala|a ard |ls adjo|r|rg slales.
T|e d|recl sa|es lurr over dur|rg l|e year Was ` 2/,552 V||||or corpared lo `
22,912 V||||or |r l|e prev|ous l|sca|.
0ur|rg l|e year 6|lurer sa|es Was |rcreased lo 293 TVT lror 248 TVT so|d
dur|rg l|e prev|ous year, reg|sler|rg a groWl| ol 18º, Furrace 0|| sa|es Was
|rcreased lo 14o TVT dur|rg l|e year lror 99 TVT so|d dur|rg l|e prev|ous
year, reg|sler|rg a groWl| ol 4/º ard V|xed Xy|ere sa|es Was a|so |rcreased
oy l|reelo|d dur|rg l|e year.
1.I.1 Peta|| 0perat|ons
Keep|rg |r v|eW l|e urder recover|es |r rela|| rar|el|rg ol aulo-lue|s, your
corpary corl|rues lo adopl a ror aggress|ve approac| W|l| |ls r|r|scu|e
preserce |r l|e rela|| rar|el|rg.
1.I.2 NeW Products Harket|ng P|an
Your corpary |s sell|rg up a Po|ypropy|ere (PP) p|arl W|l| l|e capac|ly ol
440 KTPA, |rlegraled W|l| P|ase- lll expars|or ol rel|rery corp|ex W|l| ar
|rveslrerl ol ` 18,03/.8 V||||or lor supp|y|rg lo doWrslrear process|rg
|rduslry. 0ela||ed ous|ress p|ar lor sa|e ol Po|ypropy|ere |r doresl|c rar|el |s
oe|rg l|ra||zed. Slorage |rlraslruclure lor Po|ypropy|ere |s oe|rg deve|oped al
lassar |r l|e Slale ol Karrala|a.
Your corpary |s a|so sell|rg up a 0e|ayed Co|er ur|l (0Cu) |r |ls P|ase- lll
expars|or projecl, W||c| W||| produce Pelco|e, a reW producl |r l|e producl
oas|el. 0ela||ed ous|ress p|ar |s oe|rg l|ra||zed lor sa|e ol Pelco|e lo rajor
lrduslr|a| corsurers |r Soul|err lrd|a.
1.I.3 Jo|nt Ventures
Your Corpary |s |r Jo|rl Verlure (JV) W|l| S|e|| 6.V. |el|er|ard |roWr as
S|e|| VRPL Av|al|or Fue| Serv|ces Pr|vale L|r|led (SVAFSPL) W||c| supp||es
Av|al|or Turo|re Fue| (ATF) lo ool| doresl|c ard |rlerral|ora| a|r||res al lrd|ar
a|rporls.
SVAFSPL |s aggress|ve|y acqu|r|rg rar|el s|are |r ool| doresl|c ard
|rlerral|ora| a|r||res al lrd|ar a|rporls. ll |as correrced |ls relue|||rg
operal|ors al Varga|ore a|rporl.
Your corpary corl|rues lo |o|d 50º equ|ly |r l|e Jo|rl Verlures oy |o|d|rg 15
V||||or equ|ly s|ares Worl| ol ` 150 V||||or.
Turrover ol l||s JV Corpary Was ` 5,1/3.48 V||||or dur|rg l|e year aga|rsl
` 2,8o/.03 V||||or dur|rg l|e prev|ous year ard l|e Pre-lax prol|l ol ` 181.59
V||||or dur|rg l|e year aga|rsl ` 13o.28 V||||or dur|rg l|e prev|ous year.
T|e JV Corpary dec|ared |ls ra|der d|v|derd ol ` 1 per equ|ly s|are ol ` 10
eac| lu||y pa|d dur|rg l|e year.
2. AwAP0$ AN0 PE600N|T|0N:
Your corpary |as oeer recogr|zed lor |ls exce||erce |r a|| ol |ls operal|ora|
areas ard rece|ved lo||oW|rg aWards dur|rg l|e year:
? wor l|e ¯urral|a Sura|s|a Puras|ara¨ aWard ? 2011 corlerred oy
|al|ora|SalelyCourc||?Karrala|aC|aplerlor0ulslard|rgPerlorrarce
|r Salely Varagererl Syslers.
? ¨Exce||erl¨ Vou ral|rg rece|ved lror 0eparlrerl ol Puo||c Erlerpr|se,
0overrrerl ol lrd|a lor l|e year 2010-11.
? Secured secord pr|ze lor oulslard|rg perlorrarce |r l|e area ol l|rd|
|rp|ererlal|or lor l|e year 2010-2011 oy l|e ToWr 0ll|c|a| Larguage
Corr|llee (T0LlC), Varga|ore.
? wor 6T- STAR PSu Exce||erce aWard 2012 lor Exce||erce |r Var|el
Cap|la||zal|or.
? wor0lS0'VoslCors|slarlPerlorrer(Rel|rer|es)'AWardlor2009-10
3. 6PE0|T PP0F|LE
3.1 lCRAL|r|led|asreall|rredlssuerRal|rg¯lrAAA¨(prorourcedlRTr|p|eA)lo
your corpary. T||s ral|rg |rd|cales l|e ||g|esl cred|l qua||ly ral|rg ass|gred oy
lCRA ard l|e raled erl|ly |.e., W||c| carr|es l|e |oWesl cred|l r|s|.
3.2 lCRA |as reall|rred l|e ral|rg ass|gred lo l|e ` 15,000 V||||or Furd- 6ased
||r|lsolyourcorparyal¯[lCRA|AAA¨(prorourcedlCRATr|p|eA).T|eoul|oo|
orl|eral|rg|s¯Slao|e¨.
3.3 lCRA |as a|so reall|rred l|e ral|rg reass|gred lo l|e ` 55,000 V||||or |or-
Furdoased||r|lsolyourcorparyal¯[lCRA|A1÷¨(prorourcedaslCRAAore
p|us).
3.4 lCRA|asreall|rred¯[lCRA|A1÷¨(prorourcedaslCRAAorep|us).T||sral|rg
|rd|cales l|e very slrorg degree ol salely regard|rg l|re|y payrerl ol l|rarc|a|
oo||gal|ors |.e., W||c| carr|es l|e |oWesl cred|l r|s|.
3.5 CRlSlL|asreall|rred¯[CCRAAA|(prorourcedasCCRTr|p|eA).T||sral|rg
|rd|cales ||g|esl degree ol slrergl| W|l| regard lo |oror|rg deol oo||gal|ors oy
your corpary.
4
Annua| Peport 2011-12
4. F|NAN6|AL A660uNT|N0
T|e l|rarc|a| slalererls |ave oeer prepared |r accordarce W|l| l|e 0erera||y
Accepled Accourl|rg Pr|rc|p|es (0AAP) ard |r corp||arce W|l| a|| app||cao|e
accourl|rg slardards ard as per l|e gu|darce role or accourl|rg lor acl|v|l|es
ol l|e corpary |ssued oy T|e lrsl|lule ol C|arlered Accourlarls ol lrd|a (lCAl)
ard prov|s|ors ol l|e Corpar|es Acl, 195o. T|e l|rarc|a| slalererls |ave oeer
prepared urder l|e Rev|sed Sc|edu|e Vl lorral ol l|e Corpar|es Acl, 195o
pursuarl lo rol|l|cal|or ol V|r|slry ol Corporale Alla|rs (VCA), 0overrrerl ol
lrd|a.
5. |NTEPNAL 60NTP0L $Y$TEH
Your corpary rera|rs corr|lled lo ersure ar ellecl|ve |rlerra| corlro|
erv|rorrerl l|al prov|des assurarce or l|e ell|c|ercy ol operal|ors ard
secur|ly ol assels.
lrlerra| aud|l deparlrerl lurcl|ors urder l|e superv|s|or ol l|e Aud|l
Corr|llee c|a|red oy ar lrdeperderl 0|reclor. Your corpary |as a We||
eslao||s|ed |rlerra| corlro| rev|eW rec|ar|sr W||c| assures ellecl|ve |rlerra|
corlro| erv|rorrerl lo l|e Aud|l Corr|llee ard 6oard ol 0|reclors.
ê. PP0JE6T$
ê.1 Phase-||| Pef|nery Expans|on and up gradat|on Pro[ect
As you are aWare l|al your corpary |s |rp|ererl|rg P|ase-lll rel|rery
expars|or ard up gradal|or projecl al ar esl|raled cosl ol ` 121,o00 V||||or,
W||c| W||| dr|ve l|e lulure groWl| ol l|e corpary.
Vajor ||g|||g|ls ol P|ase-lll rel|rery expars|or ard up gradal|or projecl are as
urder:
? w|l| l|e |rcreased capac|ly ol 15 VVTPA your corpary |s We|| p|aced |r
l|e rar|el v|s-e-v|s |ls peers |r l|e lrduslry.
? Your corpary |s l|e secord rel|rery |r l|e courlry, capao|e ol process|rg
||g| TA| crudes.
? T|e'|e|sorCorp|ex|lylrdex'oll|erel|reryolyourcorparyer|arced
lo approx|rale|y 9.0 lror o.0.
? T|e 0|sl|||ale y|e|d ol l|e rel|rery W||| oe |rcreased oy approx|rale|y 80º.
? Your corpary W||| produce va|ue added producls |||e Propy|ere lror l|e
|oW va|ue o|ac| o||.
? T|e 0|ese| lydro Trealer (0l0T) ol l|e rel|rery ol your corpary W|||
corverl l|e l|g| Speed 0|ese| (lS0) |rlo Euro ?lll, lV ardV grade lor
doresl|c ard g|ooa| rar|el.
T|e P|ase-lll projecl |s oe|rg execuled |r |yor|d rode cors|sl|rg ol var|ous
rodes ol execul|or v|z., Erg|reer|rg, Procurererl ard Corslrucl|or
Varagererl (EPCV), 0per 6oo| Execul|or (06E) ard Lurp Sur Turr
Key (LSTK). V/S Erg|reers lrd|a L|r|led (ElL) |s l|e Projecl Varagererl
Corsu|larl. V/S Jacoo |s l|e EPCV Corlraclor lor l|e C0u/V0u ard V/S
ElL |s l|e corlraclor lor Pelro F|u|d|zed Cala|yl|c Crac||rg ur|l (PFCCu) ard
Su|p|ur Recovery ur|l (SRu) W||c| are execuled urder 06E ard LSTK.
Your corpary |as ac||eved ar overa|| progress ol 95./º aga|rsl sc|edu|ed
largel ol 100º as ol 15/0//2012 |r P|ase-lll projecl ard |s |r l|e process ol
progress|ve corr|ss|or|rg ol l|e lo||oW|rg rajor ur|ls:-
(|) lydroger 0ereral|or ur|l (l0u)
(||) 0|ese| lydro Trealer ur|l (0l0T)
(|||) Su|p|ur Recovery ur|l (SRu)
(|v) Capl|ve PoWer P|arl (CPP)
(v) Pelro F|u|d|zed Cala|yl|c Crac||rg ur|l (PFCCu)
(v|) 0e|ayed Co|er ur|l ( 0Cu)
(v||) Co|er 0as 0|| lydro Trealer ur|l (ClTu)
T|e crude Was cul |rlo C0u ard V0u ol P|ase-lll or 25/03/2012 aller
rec|ar|ca| corp|el|or ol recessary l|re Waler relWor|, l|are relWor|, ul|||l|es
corlro| syslers ard var|ous l|r|s|ed producls Were rouled lo respecl|ve slorage
lar|s or 29/03/2012.
lydroger 0ereral|or ur|l (l0u) Was succuslu||y corr|ss|ored or 18/0//2012
TWo crude slorage lar|s eac| |av|rg o0,000 r3 capac|ly Were corr|ss|ored
or 30/3/2012 lo er|arce l|e crude slorage capac|ly ol l|e rel|rery ol your
corpary.
wel A|r 0x|dal|or ur|l, a parl ol l|e aux|||ary ur|ls/lac|||l|es Was corr|ss|ored
or 13/12/2011.
T|e P|ase-lll projecl |as lydrocaroor slrears |rlercorrecl|ors W|l| l|e
ex|sl|rg P|ase- l & ll ol l|e rel|rery ol your corpary. Revarp ol l|e ex|sl|rg
lydro Crac|er ur|ls (lCu-1 ard lCu-2) |as oeer successlu||y corp|eled ard
corr|ss|ored dur|rg Vay, 2012.
Your corpary |s p|eased lo |rlorr l|al l|e 0overrrerl ol Karrala|a |as g|ver
ar allracl|ve |rcerl|ve pac|age cors|sl|rg ol lo||oW|rg l|sca| oerel|ls lor P|ase-
lll projecl:
? Exerpl|or lror payrerl ol Erlry Tax or p|arl ard rac||rery ard cap|la|
goods dur|rg l|e |r|l|a| per|od ol 4 years lror l|e dale ol corrercererl
ol projecl |rp|ererlal|or.
? Exerpl|or lror payrerl ol Erlry Tax or l|e crude o|| l|rupul |r P|ase-lll
lor 15 years lror l|e slarl ol correrc|a| producl|or ol l|e P|ase-lll.
? Exerpl|or lror Cerlra| Sa|e Tax lor 15 years lror l|e dale ol
corrercererl ol correrc|a| producl|or lor a|| l|e |rlerslale sa|es.
? lrleresl lree soll |oar al l|e rale ol 100º ol e||g|o|e gross VAT lor l|rsl
3 years ard o0º ol e||g|o|e gross VAT or l|e sa|e ol Po|ypropy|ere,
Pelro|eur Co|e, LSlS, |ap|l|a, LP0 (|rcrererla| producl|or), V|xed
Xy|eres ard relorrale lo ror SEZ ur|ls lor rexl 12 years lo oe repa|d
aller 15 years oy 15 equa| arrua| |rsla||rerls ||r|led lo ` 5000 V||||or per
arrur.
T|e P|ase-lll projecl ol your corpary |s roW e||g|o|e lor lrcore Tax oerel|l
urder Secl|or 80(l6) ol l|e lrcore Tax Acl, 19o2 as |l |as successlu||y
corr|ss|ored C0u ard V0u ol P|ase-lll projecl or 29/03/2012 oelore l|e
sursel dead||re ol 31/03/2012 .T||s oerel|l W||| p|ace your corpary |r a oeller
pos|l|or lor corpel|rg W|l| |ls peers |r l|e rar|el.
lydroger 0ereral|or (l0), 0|ese| lydro Trealer (0l0T), ard Co|er 0as 0||
lydro Trealer (ClT) ur|ls a|org W|l| re|aled ul|||l|es Were a|so rec|ar|ca||y
corp|eled oelore Varc| 2012. T|e pre-corr|ss|or|rg acl|v|l|es ol l|ese ur|ls
are rear|rg corp|el|or oy exlerd|rg slear ard poWer lror l|e ex|sl|rg lac|||l|es
ol P|ase-l ard P|ase-ll due lo de|ay |r corr|ss|or|rg ol Capl|ve PoWer P|arl
(CPP) ol P|ase -lll oy |ls LSTK corlraclor ( V/s 6lEL). ll |s expecled l|al V/s
6lEL W||| oe ao|e lo corr|ss|or CPP ol P|ase-lll oy l|e erd ol Sepleroer
2012 as assured oy |l.
ê.2 Po|ypropy|ene Pro[ect
As you are aWare l|al your corpary |s sell|rg up a Po|ypropy|ere (PP) ur|l
|rlegraled W|l| l|e P|ase-lll projecl al ar esl|raled Capex ol ` 18,03/.8
V||||or. V/s. Erg|reers lrd|a L|r|led (ElL) |as oeer ergaged lo |rp|ererl
l||s projecl urder 06E corverlao|e lo LSTK rel|odo|ogy ard V/s. |ovo|er
Tec|ro|ogy, 0errary |as oeer se|ecled as l|e ||cersor lor l|e sare.
Projecl 0|sp|aced Far|||es (P0F) proo|ers |ad de|ayed l|e s|le Wor| W||c|
resu|led |r s||ll|rg l|e |ocal|or ol l||s projecl. Fres| erv|rorrerla| c|eararce
|as oeer oola|red lror l|e V|r|slry ol Erv|rorrerl ard Foresl (VoEF) due lo
s||ll|rg ol l|e |ocal|or.
Po|ypropy|ere Projecl |as ac||eved ar overa|| progress ol 82.2º aga|rsl
sc|edu|ed largel ol 9/./º as ol 15/0//2012. Cosl corr|lrerl rade lor l||s
projecl Was ` 12,9/o.o V||||or ard l|e curu|al|ve experd|lure |rcurred Was
` 5,492.1 V||||or as ol 31/03/2012.
ê.3 $|ng|e Po|nt Hoor|ng ($PH) Pro[ect
Your corpary |s sell|rg up S|rg|e Po|rl Voor|rg (SPV) projecl a|org W|l|
coasla| ooosler purp|rg slal|or W|l||r l|e porl ||r|ls al a |ocal|or ol 1o
|||orelers |rs|de l|e sea (l|g|-Seas) |av|rg drall ava||ao|||ly ol 30 relers lor
|ard||rg Very Large Crude Carr|er (VLCC) al ar esl|raled cosl ol ` 10,440
V||||or.
SPV lac|||ly W||| |ave lo||oW|rg advarlages:
a. use ol VLCC W||| reduce l|e average lre|g|l cosl ol crude.
o. F|ex|o|||ly lo rece|ve opporlur|ly crudes lror wesl Alr|car ard Lal|r
Arer|car courlr|es.
c. 0e-corgesl|or ol ex|sl|rg jell|es al |eW Varga|ore Porl Trusl (|VPT) W|||
resu|l |r |ard||rg rore pelro|eur producls.
d. Crude W||| oe purped lo l|e lrd|ar Slraleg|c Pelro|eur Reserve L|r|led
(lSPRL) urdergrourd caverr lor slorage ol Crude o|| al Varga|ore ard Padur.
5
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
S|rg|e Po|rl Voor|rg (SPV) projecl |as ac||eved ar overa|| progress ol 95.oº
aga|rsl l|e sc|edu|ed largel ol 100º as ol 15/0//2012 ard |s expecled lo
correrce lr|a| operal|or oy l|e erd ol Sepleroer, 2012.
ê.4 Future Pro[ects for 0roWth
0ur|rg 0|ooa| lrveslors Veel or /
l|
& 8
l|
Jure, 2012 al 6erga|uru, your
corpary |as s|gred a Verorardur ol urderslard|rg W|l| l|e 0overrrerl
ol Karrala|a lor sell|rg up a L|rear A||y| 6erzere P|arl (a raW raler|a| lo
rarulaclure 0elergerls) ard lo expard |ls rel|r|rg capac|ly lo 21 VVTPA
suojecl lo lec|ro- ecoror|c v|ao|||ly ard ava||ao|||ly ol requ|red |rlraslruclure al
Varga|ore W|l| ar approx|rale |rveslrerl ol ` 85,000 V||||or.
I. 60N$EPVAT|0N 0F ENEP0Y, TE6hN0L00Y Aß$0PPT|0N AN0
F0PE|0N EX6hAN0E EAPN|N0$ & 0uT00
T|e add|l|ora| |rlorral|or requ|red lo oe d|sc|osed pursuarl lo Secl|or 21/(1)
(e) ol l|e Corpar|es Acl,195o read W|l| l|e Corpar|es (0|sc|osure ol
Parl|cu|ars |r l|e Reporl ol 0|reclors) Ru|es, 1988 W|l| respecl lo corserval|or
ol erergy, lec|ro|ogy aosorpl|or ard lore|gr exc|arge earr|rgs & oulgo are
lurr|s|ed|r'Arrexure-l'W||c|lorrsparloll||sReporl.
8. PAPT|6uLAP$ 0F EHPL0YEE$
Your corpary oe|rg a goverrrerl corpary |s exerpled lror d|sc|osure ol
parl|cu|ars ol erp|oyees urder Secl|or 21/(2A) ol l|e Corpar|es Acl, 195o,
ard l|e Parl|cu|ars ol Erp|oyees Arerdrerl Ru|es, 2011.
9. P|0hT T0 |NF0PHAT|0N A6T, 2005
Your corpary |as a RTl rarua| posled |r l|e Weos|le WWW.rrp|.co.|r.
0ur|rg l|e year 8/ app||cal|ors Were rece|ved, oul ol W||c| 82 Were d|sposed
oll oelore 31/03/2012 ard oa|arce 5 app||cal|ors d|sposed oll aller 01/04/2012.
10. huHAN PE$0uP6E$
x 0ur|rg l|e year 2011-12, your corpary corl|rued lo erjoy cord|a| ard
|arror|ous re|al|ors W|l| l|e co||ecl|ves ard as ev|derce lo l|e sare rol
a s|rg|e rar-|our Was |osl or accourl ol ary |rduslr|a| d|sluroarce.
x Your corpary |as recru|led 1o8 erp|oyees |rc|ud|rg 13 Worer erp|oyees
dur|rg l|e year 2011-12, oul ol l|ese 20 erp|oyees are Sc|edu|e Casle
(SC), 12 Sc|edu|e Tr|oe (ST) ard 1 P|ys|ca||y C|a||erged (PC).
x Tola| erp|oyee slrergl| as or 31/03/2012 Was 1500 |rc|ud|rg 104 Worer
erp|oyees, oul ol l|ese erp|oyees, 59/ are lror Varagererl cadre
W|ereas 903 are lror |or-Varagererl cadre. T|e ruroer ol erp|oyees
oe|org|rg lo SC/ST calegor|es are 129 ard P|ys|ca||y C|a||erged are 5.
x 0ur|rg l|e year 2011-12, your corpary devoled 5095 rar-days lor
Tra|r|rg, 0eve|oprerl ard Learr|rg W||c| arourls lo ar average 3.45
rar-days per erp|oyee. T||s |rc|udes lurcl|ora|, deve|oprerla| ard
spec|a| lra|r|rg progrars cover|rg l|e erl|re speclrur ol erp|oyees.
11. 0FF|6|AL LAN0uA0E [0L)
Your corpary corl|rues lo |rp|ererl 0ll|c|a| Larguage (0L) Po||cy as per
l|e Arrua| Prograrre prescr|oed oy l|e 0eparlrerl ol 0ll|c|a| Larguage,
V|r|slry ol lore Alla|rs, 0overrrerl ol lrd|a, |r l||s regard lo||oW|rg sleps
Were urderla|er dur|rg l|e year.
x Per|od|ca| reporls are serl lo a|| l|e 0overrrerl agerc|es |rc|ud|rg
Adr|r|slral|ve V|r|slry, V|r|slry ol Pelro|eur ard |alura| 0as (VoP&|0)
||g|||g|l|rg l|e progress rade |r prorol|or ol l|rd|.
x l|rd| Wor|s|ops ard l|rd| c|asses rare|y Praood|, Praveer ard Pragya
are orgar|zed or a regu|ar oas|s.
x Spec|a| ellorls Were rade lo acl|vale ur|code lac|||l|es or a|| l|e corpulers
used |r l|e oll|ce lor |rcreas|rg l|e corresporderce |r 0L.
x To rol|vale erp|oyees, |rcerl|ve sc|eres suc| as cas| aWard ard
persora| pay |s |rlroduced.
x Ar 0L |rspecl|or ol var|ous deparlrerls ard oll|ces Was carr|ed oul.
l|rd| Forlr|g|l Was ce|eoraled ard rary l|rd| corpel|l|ors suc| as l|rd|
d|clal|or, lardWr|l|rg, Adr|r-0|ossary, speec| elc. Were corducled lor l|e
erp|oyees ard l|e|r lar||y reroers dur|rg l|e year.
Corpel|l|ors are a|so |e|d |r l|rd| |arguage lor erp|oyees ard l|e|r lar||y
reroers dur|rg |al|ora| Salely 0ay, Erv|rorrerl 0ay, Secur|ly aWareress
Wee| ard V|g||arce aWareress Wee|.
l|rd| lasya Kav| Sarre|ar Was |e|d or 30/03/2012, 5 |al|ora| |eve| er|rerl
l|rd| poels lror d|llererl parls ol l|e courlry parl|c|paled |r l||s prograrre
orgar|zed oy your corpary.
0ll|c|a| Larguage lrp|ererlal|or Corr|llee (0LlC) reel|rgs, Were |e|d or
quarler|y oas|s urder l|e c|a|rrars||p ol Varag|rg 0|reclor. A|| oul ellorls are
oe|rg rade lo prorole 0L |r your corpary.
Your corpary |as oeer aWarded l|rsl pr|ze lor oulslard|rg perlorrarce
|r l|rd| |rp|ererlal|or lor l|e year 2011-12 oy l|e ToWr 0ll|c|a| Larguage
lrp|ererlal|or Corr|llee (T0LlC), Varga|ore. Your corpary a|so Wor e|g|l
pr|zes ard slood Secord al l|e T0LlC |eve| corpel|l|ors.
12. V|0|LAN6E FuN6T|0N
Your corpary |as deve|oped a slruclured rec|ar|sr ol v|g||arce lurcl|ors
ard |ls pracl|ces are locused loWards creal|or ol va|ue lor a|| l|e sla|e|o|ders.
T|e pracl|ces |rvo|ve ru|l|-|ayer c|ec|s ard oa|arces lo |rprove lrarsparercy.
V|g||arce aWareress ard preverl|ve v|g||arce acl|v|l|es Were corl|ruous|y
carr|ed oul dur|rg l|e year. 0u|de||res ol Cerlra| V|g||arce Corr|ss|or are
oe|rg lo||oWed. 0ll|cers |r sers|l|ve posls are rolaled regu|ar|y.
w||sl|e 6|oWer Po||cy lor erp|oyees |s |r p|ace W||c| ersures l|al a geru|re
W||sl|e o|oWer |s grarled due prolecl|or lror ary v|cl|r|zal|or. lr corp||arce
W|l| CVC |rslrucl|or, your corpary |as |rp|ererled a corp|a|rl |ard||rg
po||cy |r W||c| a|| corp|a|rls rece|ved lror var|ous sources car gel recorded
ard car oe exar|red oy v|g||arce. Furl|er, |r ||re W|l| CVC |rslrucl|or, your
corpary |as ac||eved very ||g| corp||arce |eve| W|l| regard lo e-payrerl
ard e-lerder.
Leverag|rg ol lec|ro|ogy lo er|arce lrarsparercy |as oeer a l|rusl area
ol acl|or |r W||c| v|g||arce |as p|ayed a cala|yl|c ro|e. T|e Weos|le ol l|e
corpary d|sp|ays doWr|oadao|e lerder docurerl, puo||cal|or ol |rlorral|or
ol Wor|s aWarded or ror|ral|or oas|s, puo||cal|or ol posl aWard |rlorral|or ol
corlracls.
13. $E6uP|TY HEA$uPE$
Your corpary corl|rues lo |rprove l|e secur|ly reasures al l|e rel|rery. T|e
lo||oW|rg sleps Were la|er lo |rprove l|e secur|ly dur|rg l|e year:
13.1 6|$F |nduct|on
V|r|slry ol lore Alla|rs (VlA) |as approved |rducl|or ol 200 ClSF persorre|
lor secur|ly ol l|e rel|rery. A 0u|c| Reacl|or Tear (0RT) lear cors|sl|rg ol 22
ClSF persorre| Was |rducled lo guard l|e rel|rery. Corslrucl|or ol ar exc|us|ve
ToWrs||p lor ClSF persorre| |s urderWay al a cosl ol ` 320 V||||or ard |s
sc|edu|ed lor corp|el|or |r Apr||, 2013. T|e secord p|ase ol ClSF |rducl|or
W|l| ar add|l|ora| 80 persorre| |s expecled lo la|e p|ace oy Sepleroer, 2012.
T|e rera|r|rg ClSF rarpoWer W||| oe |rducled aller corp|el|or ol ClSF
ToWrs||p.
13.2 66TV $urve|||ance
T|e rel|rery |s urder surve|||arce ol slale-ol-l|e arl CCTV |elWor| des|gred lo
cover a|| l|e access corlro| gales ard ol|er slraleg|c |ocal|ors.
13.3 Access 6ontro|
Access lo rel|rery area |s corlro||ed oy corpuler|sed Srarl Card & Varua|
Pass sysler lor corlracl |aoourers ard RFl0 srarl card lor erp|oyees. Access
corlro| lo l|e rel|rery area |s oe|rg |rproved oy corp|el|or ol l|e proposed
reW rel|rery gale ard secur|ly ou||d|rg. T|e secur|ly ou||d|rg W||| oe equ|pped
W|l| ru|l|-zore rela| deleclors ard X-ray oaggage scarrers. T||s gale W|||
a|so |ave lurrsl||es corlro||ed l|roug| o|o-relr|c card readers lor slr|cl access
corlro| lo rel|rery area. Arl|-ve||c|e |rlrus|or syslers |||e Tyre R|ppers are a|so
oe|rg p|arred lo oe |rsla||ed al rel|rery gales. Var|el|rg operal|or ard secur|ly
|rlraslruclure |s oe|rg ou||l |r l|e |oWer p|aleau ol l|e Rel|rery.
13.4 |ß Pecommendat|ons
A lear lror lrduslr|a| Secur|ly 6rarc| ol lrle|||gerce 6ureau (l6) v|s|ls
l|e rel|rery ol your corpary orce |r every lWo years lo |rspecl secur|ly
arrargererls, |derl|ly grey area ard recorrerd / suggesl |rprovererls.
A|| l|e recorrerdal|ors g|ver oy l|e l6 |r l|e year 2008 |ave oeer
corp||ed. T|e |asl l6 |rspecl|or Was carr|ed oul dur|rg 0eceroer, 2010 ard
oul ol 30 Recorrerdal|ors, rajor|ly |ave oeer corp||ed. T|e rera|r|rg
recorrerdal|ors are urder vary|rg slages ol corp||arce.
13.5 $ecur|ty Aud|t by 0N06
C||el ol Secur|ly, 0|| ard |alura| 0as Corporal|or (0|0C), carr|es oul
per|od|ca| rev|eW ol secur|ly ol l|e rel|rery oes|des per|od|ca| secur|ly aud|ls,
ard recorrerds lor |rprovererl W||c| are |rp|ererled.
o
Annua| Peport 2011-12
13.ê Hock 0r|||s
A ¯Prolecl|or Sc|ere¨ lo saleguard l|e rel|rery ol your corpary lror l|e
everls ol slr||e, |aW & order s|lual|or |ave oeer l|ra||zed W|l| l|e d|slr|cl
Corr|ss|orer ard Po||ce Corr|ss|orer, Varga|ore. Regu|ar secur|ly roc|
dr|||s ard d|slr|cl |eve| secur|ly exerc|ses are corducled jo|rl|y W|l| Slale Po||ce
ard Coasl 0uards. Your corpary |s acl|ve|y |rvo|ved |r l|e coasla| secur|ly
exerc|ses corducled al l|e coasla| area jo|rl|y W|l| Coasl 0uard.
14. 60PP0PATE $06|AL PE$P0N$|ß|L|TY [6$P) |N|T|AT|VE$
Your corpary's CSR |r|l|al|ve corl|rues lo oe |rl|uerced oy l|e reeds ard
corcerrs ol l|e corrur|ly res|d|rg |r l|e c|ose prox|r|ly ol l|e rel|rery.
T|eCSR|r|l|al|veolyourcorpary|roWras¯Sarra|s|ar¨|ave5areasW|l|
a v|s|or lo prolecl, preserve ard prorole peop|e, peace ard progress |r ard
arourd ol l|e rel|rery as urder.
x S|||s|ara Sarra|s|ar,
x Arogya Sarra|s|ar
x 6a|ujar Sarra|s|ar
x Pra|r|l|| Sarra|s|ar
x Sars|r|l|| Sarra|s|ar
w|l| l|ese oojecl|ves, your corpary |as |rp|ererled ruroer ol CSR
sc|eres dur|rg l|e year. T|e rajor sc|eres covered urder l|e CSR acl|v|l|es
dur|rg l|e year |rc|udes corslrucl|or ol corrur|ly |a||, Road asp|a|l|rg, r|d-
day rea| lo sc|oo| sluderls, corslrucl|or ol sc|oo| ou||d|rg, lo||el o|oc|s lor
sc|oo|s, sc|o|ars||p lor rer|lor|ous sluderls |rc|ud|rg SC/ST sluderls, add
or lac|||l|es lo SC/ST corrur|ly, se|l erp|oyrerl lra|r|rg lor Worer, lree
d|slr|oul|or ol seW|rg rac||res lo Worer , corslrucl|or ol ArgarWad|, arl|l|c|a|
||ro carp, rega red|ca| carp ard rurr|rg a lree pr|rary |ea|l| cerlre.
T|e ra|r l|rusl areas W|ere your corpary |as la|er var|ous |r|l|al|ves are |r
||re W|l| 0PE gu|de||res ard |as sperl ` 240 V||||or |r var|ous CSR sc|eres
dur|rg |asl 4 years.
15. 0|PE6T0P$
0ur|rg l|e year lo||oW|rg c|arges loo| p|ace |r 6oard ol 0|reclors ol your
corpary:
15.1 l, S|r| Sud||r Vasudeva loo| over as C|a|rrar ol your Corpary lror
03/10/2011.
15.2 S|r| V|s|ru AgraWa| |as assured l|e oll|ce ol 0|reclor (F|rarce) W|l| ellecl
lror 01/04/2011 pursuarl lo ||s appo|rlrerl as 0|reclor (F|rarce) ol VRPL oy
l|e V|r|slry ol Pelro|eur & |alura| 0as (VoP&|0), 0overrrerl ol lrd|a.
15.3 S|r| 0.K.Sarral |as res|gred or 1o/09/2011 lror l|e 6oard corsequerl upor
||s appo|rlrerl as Varag|rg 0|reclor ol 0|0C V|des| L|r|led (0VL).
15.4 T|e ror|ral|or ol S|r| A.K.lazar||a, ard S|r| K.S.Jaresl|r, Was W|l|draWr
oy 0|0C l|e parerl corpary W|l| ellecl lror 31/10/2011 lor opl|r|z|rg
l|e slrergl| ol l|e 6oard |r corp||arce W|l| C|ause 3.1.3 ol l|e rardalory
gu|de||res ol corporale goverrarce lor Cerlra| Puo||c Seclor Erlerpr|ses
(CPSE) |ssued oy 0eparlrerl ol Puo||c Erlerpr|ses (0PE), 0overrrerl
ol lrd|a. S|r| A.K.lazar||a ard S|r| K.S.Jaresl|r are corl|ru|rg as spec|a|
|rv|lees or l|e 6oard ol l|e corpary.
15.5 S|r| u.K. 6asu, Forrer Varag|rg 0|reclor superarrualed lror l|e serv|ces ol
VRPL or 30/0o/2012 ard res|gred lror l|e 6oard ol l|e corpary W|l| ellecl
lror 01/0//2012.
15.o S|r| P.P. upad|ya, |as assured l|e oll|ce ol Varag|rg 0|reclor W|l|
add|l|ora| c|arge ol 0|reclor (Tec|r|ca|) VRPL W.e.l. 01/0//2012, pursuarl
lo ||s appo|rlrerl as Varag|rg 0|reclor ard add|ll|ora| c|arge ol 0|reclor
(Tec|r|ca|) ol VRPL oy l|e V|r|slry ol Pelro|eur & |alura| 0as (VoP&|0),
0overrrerl ol lrd|a.
15./ T|e 6oard W|s|es lo p|ace or records |ls apprec|al|or lor l|e serv|ces rerdered
oy S|r| u.K. 6asu as Varag|rg 0|reclor ard S|r| 0.K.Sarral as 0|reclor dur|rg
l|e|r lerure or l|e 6oard ol l|e Corpary.
15.8 lr accordarce W|l| l|e prov|s|ors ol l|e Corpar|es Acl, 195o ard Arl|c|es
ol Assoc|al|or ol l|e Corpary, 0r. A.K. Ral| W||| rel|re oy rolal|or al l|e 24
l|
Arrua| 0erera| Veel|rg ol l|e Corpary. 0r. A.K. Ral|, oe|rg e||g|o|e, ollers
||rse|l lor re-appo|rlrerl as 0|reclor ol l|e corpary.
15.9 0r. 0.C|ardrase||arar Was ror|raled oy 0|0C pursuarl lo c|ause o.1 ol
l|e gu|de||res or corporale goverrarce lor CPSEs ard Was appo|rled as ar
add|l|ora| 0|reclor W|l| ellecl lror 10/01/2012 oy l|e 6oard ol 0|reclors W|o
vacales ||s oll|ce as Add|l|ora| 0|reclor ard oe|rg e||g|o|e ollers ||rse|l lor re-
appo|rlrerl as a 0|reclor |r l|e 24
l|
Arrua| 0erera| Veel|rg.
15.10 6r|el resure ol l|e 0|reclors see||rg appo|rlrerl / re-appo|rlrerl, logel|er
W|l| l|e ralure ol l|e|r experl|se |r spec|l|c lurcl|ora| areas, l|e rares
ol l|e corpar|es |r W||c| l|ey |o|d l|e d|reclors||p ard l|e reroers||p /
c|a|rrars||p ol corr|llees ol l|e 6oard, ard l|e|r s|are|o|d|rg |r l|e
Corpary are lurr|s|ed |r l|e Arrexure lo l|e A0V rol|ce.
15.11 Your Corpary |as corp||ed W|l| a|| l|e rardalory prov|s|ors ol c|ause 49
ol l|e L|sl|rg Agreererl re|al|rg lo l|e corporale goverrarce requ|rererls
ard rardalory gu|de||res or corporale goverrarce lor CPSEs |ssued oy
0eparlrerl ol Puo||c Erlerpr|se (0PE), 0overrrerl ol lrd|a excepl |av|rg
requ|s|le ruroer ol lrdeperderl 0|reclors or l|e 6oard ol l|e Corpary. T|ere
are l|ree lrdeperderl 0|reclors or l|e 6oard ol your corpary corsl|lul|rg 1/3
rd
ol |ls slrergl|. T|e corpary |s pursu|rg W|l| V|r|slry ol Pelro|eur ard |alura|
0as (VoP&|0), 0overrrerl ol lrd|a lor appo|rlrerl ol requ|s|le ruroer ol
lrdeperderl 0|reclors. T|e Arrua| Reporl corla|rs a separale secl|or or
corporale goverrarce, W||c| lorrs parl ol l||s reporl.
1ê. 0|PE6T0P$'PE$P0N$|ß|L|TY$TATEHENT
Pursuarl lo l|e requ|rererl urder secl|or 21/ (2AA) ol l|e Corpar|es Acl,
195o,W|l|respecllo0|reclors'respors|o|||lyslalererl,|l|s|ereoycorl|rred
l|al:
|) lr l|e preparal|or ol l|e Arrua| Accourls, l|e app||cao|e accourl|rg
slardards |ave oeer lo||oWed ard l|al l|ere are ro raler|a| deparlures
lror l|e sare.
||) T|e 0|reclors |ave se|ecled suc| accourl|rg po||c|es ard app||ed l|er
cors|slerl|y ard rade judgrerls ard esl|rales l|al are reasorao|e ard
pruderl, so as lo g|ve a lrue ard la|r v|eW ol l|e slale ol alla|rs ol l|e
corpary as al 31
sl
Varc|,2012 ard l|e Prol|l & Loss ol l|e corpary lor
l|e year erded or l|al dale.
|||) T|e 0|reclors |ave la|er proper ard sull|c|erl care lor l|e ra|rlerarce
ol adequale accourl|rg records |r accordarce W|l| l|e prov|s|ors ol l|e
Corpar|es Acl, 195o, lor saleguard|rg l|e assels ol l|e corpary ard lor
preverl|rg ard delecl|rg lraud ard ol|er |rregu|ar|l|es, ard
|v) T|e 0|reclors |ave prepared l|e Arrua| Accourls ol l|e Corpary or a
¯go|rgcorcerr¨oas|s.
1I. F|XE0 0EP0$|T
Your Corpary |as rol accepled ary l|xed depos|l dur|rg l|e year lror l|e
puo||c.
18. 60PP0PATE 00VEPNAN6E
18.1 Your Corpary |as corp||ed W|l| a|| l|e rardalory prov|s|ors ol C|ause 49
ol l|e L|sl|rg Agreererl re|al|rg lo l|e corporale goverrarce requ|rererls
ard rardalory gu|de||res or corporale goverrarce lor CPSEs |ssued oy 0PE,
0overrrerl ol lrd|a excepl |av|rg requ|s|le ruroer ol lrdeperderl 0|reclors
or l|e 6oard ol l|e Corpary. T|ere are l|ree lrdeperderl 0|reclors or
l|e 6oard ol your corpary corsl|lul|rg 1/3
rd
ol |ls slrergl|. T|e corpary |s
pursu|rg W|l| V|r|slry ol Pelro|eur ard |alura| 0as (VoP&|0), 0overrrerl
ol lrd|a lor appo|rlrerl ol requ|s|le ruroer ol lrdeperderl 0|reclors.
18.2 T|e Arrua| Reporl corla|rs a separale secl|or or Corporale 0overrarce,
W||c| lorrs parl ol l||s reporl.
18.3 Your Corpary |s ||sled W|l| l|e 6oroay Sloc| Exc|arge L|r|led ard |al|ora|
Sloc| Exc|arge L|r|led.
18.4 Pursuarl lo C|ause 49 ol l|e L|sl|rg Agreererl W|l| Sloc| Exc|arges, your
Corpary |as oola|red l|e Cerl|l|cale lror l|e Jo|rl Slalulory Aud|lors ol l|e
Corpary, lor Corp||arce ol Corporale 0overrarce W||c| |s arrexed lo ard
lorrs parl ol l||s reporl.
18.5 As a reasure ol good corporale goverrarce, your Corpary |as ergaged V/s
u||as Kurar Ve||rarogaru & Assoc|ales Pracl|c|rg Corpary Secrelar|es lor
corducl|rg Arrua| Secrelar|a| Corp||arce Aud|l lor l|e year 2011-2012. V/s.
u||as Kurar Ve||rarogaru & Assoc|ales, Pracl|c|rg Corpary Secrelar|es
|ave |ssued Arrua| Secrelar|a| Corp||arce Aud|l Reporl lor l|e year 2011-12
W||c| lorrs parl ol l||s reporl.
/
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
18.o C|a|rrar speec| al l|e 24
l|
Arrua| 0erera| Veel|rg (A0V) W||| oe d|slr|ouled
lo s|are|o|ders dur|rg l|e reel|rg ard W||| oe puo||s|ed |r l|e |ead|rg reWs
papers.
18./ Your Corpary |as despalc|ed a copy ol Arrua| Reporl cors|sl|rg ol 0|reclors
Reporl, Aud|lors Reporl, 6a|arce S|eel ard Prol|l & Loss Slalererl ard ol|er
docurerls as requ|red lo oe serl urder l|e prov|s|ors ol Corpar|es Acl 195o
lo a||, |ls reroers as or l|e records dale |.e. 13.0/.2012 pursuarl lo Secl|or
219 ard l|e Corpar|es Acl, 195o.
19. HANA0EHENT 0|$6u$$|0N AN0 ANALY$|$ PEP0PT
lr lerrs ol C|ause 49 (lV) (F) ol l|e L|sl|rg Agreererl W|l| l|e Sloc|
Exc|arges, l|e Varagererl 0|scuss|or ard Ara|ys|s Reporl |ave oeer
allac|ed ard lorrs parl ol l||s reporl.
20. Au0|T0P$
20.1 V/s. Va|araj |. R. Sures| & Co., C|erra| ard V/s. 0opa|a|yer ard
Suorarar|ar, Co|roalore |ave oeer appo|rled as jo|rl Slalulory Aud|lors ol
l|e Corpary lor l|e F|rarc|a| Year 2011-12 oy Corplro||er & Aud|lor 0erera|
ol lrd|a (C&A0).
20.2 T|e reporl ol l|e C&A0 al Arrexure lll lorrs parl ol l||s Reporl.
20.3 Parl|cu|ars ol l|e Cosl Aud|lor lor l|e l|rarc|a| year 2011-12
(a) V/s. Vus|o ard Assoc|ales, Cosl Accourlarls |as oeer appo|rled as Cosl
Aud|lor lor l|e year 2011-12.
(o) Cosl Aud|l reporl lor l|e year 2011-12 W||| oe l||ed oelore l|e due dale |.e.
2//09/2011.
ANNEXuPE-|T0ThE0|PE6T0P'$PEP0PT
A. 60N$EPVAT|0N 0F ENEP0Y
Your corpary corl|rued |ls erp|as|s or erergy corserval|or l|roug|
operal|ora| opl|r|zal|or, corl|ruous ror|lor|rg ard |rp|ererlal|or ol severa|
erergy corserval|or sc|eres
a. Vajor erergy corserval|or reasures la|er dur|rg l|e year
|) Add|l|ora| |rlercorrecl|or oelWeer P|ase-1 & P|ase-2 LoW Pressure
slear |eaders lor oeller slear d|slr|oul|or & r|r|r|z|rg |rlerr|llerl LP
slear verl|rg.
||) Cerar|c coal|rg carr|ed oul lor V6u-1, lCu-1 |ealers, W||c| resu|led |r
|esser Spec|l|c Fue| corsurpl|ors.
|||) C0u-1 ard V0u-1 |ealers prov|ded W|l| Relraclory Vodu|es lor oeller
|eal recovery.
|v) 0r||re c|er|ca| c|ear|rg ol C0u-1, V0u-1 ard V0u-2 lurraces Were
carr|ed oul. T||s resu|led |r oeller |eal recovery ard a|so |e|ped |r
|rcreas|rg l|roug|puls |r ool| ur|ls.
v) Adsoroerls ol PSA ur|l Were c|arged |r lydroger 0ereral|or ur|l-1
W||c| |rproved lydroger recovery |r l||s ur|l.
v|) Slear Cordersale Recovery sc|eres |rp|ererled |r C0u-1 ard C0u
?2ur|ls.
o. Add|l|ora| |rveslrerls ard proposa|s, |l ary, oe|rg |rp|ererled/ urder
cors|deral|or lor reducl|or ol corsurpl|or ol erergy / resources
|) Repa|r & Va|rlerarce ol slear ||res |rsu|al|or ard slear lraps.
||) Slear Cordersale Recovery |r V6u-l ard lCu-1 ur|ls.
|||) S|op recyc||rg prov|s|or W|l| coa|escer |r C0u-1 & V6u-2 ur|ls.
|v) Rep|ac|rg C0u2 A|r Pre-lealer lor oeller |eal recovery lror l|ue gas.
c. T|e reasures (a) aoove resu|led |r erergy corsurpl|or reducl|or oy approx
o200 VT/Year, equ|va|erl lo a rel sav|rg ol approx. ` 20o V||||or/year, W|l| ar
|rveslrerl ol approx|rale|y ` 133 V||||or.
21. A6KN0wLE00EHENT
21.1 Your 0|reclors s|rcere|y l|ar| l|e 0overrrerl ol lrd|a (0ol), V|r|slry ol
Pelro|eur ard |alura| 0as (VoP&|0), V|r|slry ol F|rarce (VoF), V|r|slry ol
Corporale Alla|rs (VCA), 0eparlrerl ol Puo||c Erlerpr|se (0PE), V|r|slry ol
Erv|rorrerl ard Foresl (VoEF), V|r|slry ol Exlerra| Alla|rs (VEA), V|r|slry
ol S||pp|rg (VoS), V|r|slry ol lore Alla|rs (VlA) ol|er V|r|slr|es ard
0eparlrerls ol l|e Cerlra| 0overrrerl ard l|e 0overrrerl ol Karrala|a, lor
l|e|r va|uao|e supporl, gu|darce ard corl|rued co-operal|or.
21.2 Your 0|reclors gralelu||y ac|roW|edge supporl ard d|recl|or prov|ded oy l|e
parerl corpary, 0|| ard |alura| 0as Corporal|or L|r|led (0|0C) ard l|e
supporl ol l|rduslar Pelro|eur Corporal|or L|r|led (lPCL), as Prorolers ol
l|e corpary.
21.3 Your 0|reclors W|s| lo l|ar| l|e s|are|o|ders lor l|e corl|rued corl|derce
reposed or l|e|r Corpary.
21.4 Your 0|reclors ac|roW|edge l|e corl|ru|rg co-operal|or ard supporl rece|ved
lror |eW Varga|ore Porl Trusl, F|rarc|a| lrsl|lul|ors, 6ar|s ard a|| ol|er
sla|e|o|ders suc| as supp||ers ol crude o||, verdors, corlraclors, lrarsporlers.
21.5 Your 0|reclors recogr|ze l|e palrorage exlerded oy l|e va|ued cuslorers lor
l|e producls ol l|e corpary ard pror|se lo prov|de l|er l|e oesl sal|slacl|or.
21.o Your 0|reclors W|s| lo p|ace or record l|e|r s|rcere apprec|al|or ol l|e
susla|red ard ded|caled ellorls pul |r oy a|| l|e erp|oyees co||ecl|ve|y ard
corcerled|yasaTear|roWras¯TearVRPL¨.
For ard or oe|a|l ol l|e 6oard
P|ace : |eW 0e||| [$udh|r Vasudeva)
0ale : 3
rd
Augusl, 2012 6ha|rman
d. Fue| & Loss |r l|e rel|rery lor l|e year 2011-12 Was o./5º, W|ereas |l Was
o.85º |r 2010-11.T|e rel|rery ac||eved l|e |oWesl ever erergy |rdex (V6Tu/
66L/|R0F) ol 5/.92 lor l|e year 2011-12, |rprov|rg upor l|e prev|ous oesl ol
58.13 lor l|e year 2010-11.
HPPL'sEnergyperformancedur|ngthe|astfouryears|sasfo||oWs
Year 6rude throughput,
HHTPA
[Net 6rude ßas|s)
6omp|ex|ty,
NP0F
[6hT method)
Energy |ndex,
HßN [HßTu|ßb||
NP0F)
2011-12 12.818 5.48/ 5/.92 ¯
2010-11 12.o39 5.585 58.13
2009-10 12.49/ 5.3/1 58.2/
2008-09 12.58o 5.2// 59.0/
¯Exc|ud|rg?P|ase-lll
F0PH?A
Tola| Erergy corsurpl|or ard Erergy corsurpl|or per ur|l ol producl|or:
A) PoWer and Fue| 6onsumpt|on 6urrent Year Prev|ous year
2011-12 2010-11
1 E|eclr|c|ly
a) Purc|ased
ur|l (V||||or Kwl) 20./5 19.52
Tola| Arourl (` V||||or) 118.99 114./o
Rale / ur|l (` /Kwl) ¯ 5./3 5.88
¯ lrc|udes derard c|arges ol `13.18 V||||or (` 18.58 V||||or lor 2010-11)
T|e ur|l cosl per Kwl exc|ud|rg 0erard c|arges |s ` 5.10 (` 4.90 lor 2010-
11)
8
Annua| Peport 2011-12
A) PoWer and Fue| 6onsumpt|on 6urrent Year Prev|ous year
2011-12 2010-11
o) 0Wr 0ereral|or
|) T|roug| 0|ese| 0ereralor
(al Sarpady)
ur|l (V||||or Kwl) 0.10 0.08
ur|l per |lr. ol 0|ese| (Kwl/|lr.) 2.99 3.2/
Cosl / ur|l (` /Kwl) 1o.02 10./1
||) T|roug| Slear luro|re gereralor
ur|l (V||||or Kwl) o12.01 o13.89
ur|l per ||ler ol Fue| 0|| (Kwl/|lr) ¯ 1.99 1.99
Cosl / ur|l (` /Kwl) ¯ 1o.18 11.8
¯ lrc|udes co gereraled Slear cosl
2 Fue| 0||
0uarl|ly(VT)(0||÷0as) 8,21,224 8,23,185
Tola| Arourl (` lr V||||or) 2/,o49.3/ 20,22o.o/
Average Rale (` /VT) 33,oo8.49 24,5/1.24
3 0l|ers / lrlerra| 0ereral|or
0|ese| (al Sarapady)
0uarl|ly (KL) 33.09 22.99
Tola| Cosl (` V||||or) 1.59 0.8
Rale (` /KL) 4/,911 34,990
4 Corsurpl|or per ur|l producl|or
Tola| crude processed (TPA) 1,28,1/,590 1,2o,38,942
Tola| Fue| Corsured (TPA)
(|rc|udes lue| ard |oss)
8,o5,043 8,oo,08/
Tola| E|eclr|c|ly (V||||or Kwl)
(aller deducl|rg exlerra| supp|y)
o32./o o2/./
Fue| Corsurpl|or, VT/ VT ol
Crude processed (º)
o./5 o.85
E|eclr|c|ly Corsurpl|or, Kwl /
VT ol Crude processed
49.3/ 49.oo
F0PH - ß
A) Pesearch and 0eve|opment [P&0)
1. $pec|f|c Areas |n Wh|ch P&0 carr|ed out by the company 2011-2012:
x 6rude Assay
Crude Assay Was carr|ed oul us|rg T6P apparalus:
Azar|
Aserg
Arlor
Agoar|
x Exper|ment on Po|ymer Hod|f|ed ß|tumen:
Exper|rerls Were carr|ed oul lo sludy l|e slao|||ly ol po|yrer rod|l|ed
6|lurer W|l| var|ous po|yrers ard deve|oped a lorru|al|or lor Slyrere-
6ulad|ere po|yrer rod|l|ed 6|lurer.
x Exper|ments on method deve|opment us|ng |on chromatography
Exper|rerls Were carr|ed oul or sperl causl|c ard a rel|od deve|oped
lor l|e delerr|ral|or ol su|p|ale ard l||osu|p|ale corlerl oy us|rg lor
c|roralograp|y.
x Add|t|ves Eva|uat|on
Add|l|ves Were eva|ualed lor |rprov|rg l|e 0|ese| Luor|c|ly ard l
2
S
Scaverg|rg |r exporl grade lue| o||.
x 0round Water ana|ys|s
Exper|rerls Were carr|ed oul lo assess l|e lrace rela| |eve|s |r grourd
Waler sarp|es co||ecled lror oore-We||s |r ard arourd l|e rel|rery.
2. ßenef|ts der|ved as a resu|t of the above P&0
x Assay ol var|ous crude |e|ped operal|or lo opl|r|ze ur|l-operal|rg
cord|l|ors lo rax|r|ze producl y|e|d ard producl qua||ly.
x Exper|rerls or po|yrer rod|l|ed o|lurer |as |e|ped lo ra|e va|ue
added producls lorr 6|lurer.
x Add|l|ve eva|ua |or |as |e|ped operal|or ur|ls lo opl|r|ze l|e dosage
|eve|s
x 0rourd Waler lrace rela| ara|ys|s |as |e|ped lo deve|op a oase ||re dala
or lrace rela|s |r rel|rery area.
3. Future p|an of Act|on
x To deve|op a lorru|al|or lor o|lurer eru|s|or.
x Tosludycorros|orardell|c|ercyolcorros|or|r||o|lorus|rgPolerl|oslal?
0a|varoslal lrslrurerl.
x Sludy or FCC cala|ysl.
4. Expend|ture on P&0
x Cap|la| : ` 11.25 V||||or
x Recurr|rg : ` 2.91 V||||ors
x Tola| : ` 14.1o V||||ors
6) Techno|ogy Absorpt|on, Adaptat|on & |nnovat|on
|) Ellorls, |r or|el, rade loWards lec|ro|ogy aosorpl|or, adaplal|or ard
|rroval|or.
a) Tec|ro|og|es lor process ur|ls ol P|ase-1 & 2 |ave oeer lu||y
aosoroed.
o) C0u1 ur|l |as oeer revarped W|l| pre-l|as| co|urr lo er|arce ur|l
capac|ly lror 3.o9 lo 4.8 VVTPA W|l|oul c|arg|rg l|e lurrace duly.
T|e revarped ur|l Was corr|ss|ored |r 0clooer 2011.
c) lCu1 ur|l |as oeer revarped lor erao||rg orce-l|roug| rode
operal|or lo leed upcor|rg PFCC ur|l |r P|ase-lll. T|e revarped
ur|l Was re-corr|ss|ored |r 0clooer 2011.
d) 0as 0|| lydro 0e-su|p|ur|sal|or (00l0S) ur|l capac|ly revarp
corp|eled dur|rg Apr||, 2010 |as |rproved l|e Rel|rery capao|||ly ol
produc|rg Euro-lll & Euro-lV grade 0|ese|.
||) 6erel|ls der|ved as a resu|l ol l|e aoove ellorls, e.g., producl |rprovererl,
cosl reducl|or, producl deve|oprerl, |rporl suosl|lul|or, elc.
Rel|rery l|roug|pul susla|red al 12.818 VVTPA W|||e reel|rg c|ear lue|
spec|l|cal|ors, W||c| requ|red ||g|er corp|ex|ly operal|ors.
00l0S ur|l capac|ly revarp |as |rproved l|e Rel|rery capao|||ly ol
produc|rgEuro?lll&Euro-lVgrade0|ese|.
|||) lr case ol |rporled lec|ro|ogy (|rporled dur|rg |asl 5 years rec|ored
lror l|e oeg|rr|rg ol l|e l|rarc|a| year), lo||oW|rg |rlorral|or |s lurr|s|ed.
a) Tec|ro|ogy |rporled
00l0S ur|l capac|ly revarp, lCu-1 revarp lo orce-l|roug| rode
o) Year ol |rporl
2008-09, 2010-11
c) las lec|ro|ogy oeer lu||y aosoroed?
Yes.
d) ll rol lu||y aosoroed, areas W|ere l||s |as rol la|er p|ace, reasors
l|erelore ard lulure p|ars ol acl|or.
|ol app||cao|e.
6) F0PE|0N EX6hAN0E EAPN|N0$ AN0 0uT00
(` lr V||||ors)
F|nanc|a|
Year
2011- 2012
F|nanc|a|
Year
2010- 2011
Fore|grExc|argeEarr|rgs?
a) F06 va|ue ol exporls 234,183.24 14o,024./1
o) 0epulal|or ol spec|a||sl - o.8/
Fore|gr Exc|arge 0ulgo 4/8,058.81 30/,3o2.34
9
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
HANA0EHENT 0|$6u$$|0N AN0 ANALY$|$ PEP0PT ANNEXuPE - ||
1. Economy 0verv|eW
Accord|rg lo l|e lrlerral|ora| Vorelary Furd (lVF), l|e g|ooa| ecorory ray
corl|rue lo rera|r or l|e |oWer s|de W|l| l|e expecled groWl| lo l|e lure ol
3.5º dur|rg 2012.
0|ooa| o|| derard W||| groW oy |ess l|ar 1 º |r 2012 as per lrlerral|ora|
Erergy Agercy (lEA). ll |s expecled l|al g|ooa| erergy corsurpl|or groWl|
W||| rera|r approx|rale|y 1.oº per arrur |r l|e rear lulure due lo s|oW
groWl| ol l|e g|ooa| ecorory.
T|e groWl| corslra|rls |r l|e Wa|e ol s|oW pace ol l|sca| corso||dal|or,
Worser|rg exlerra| seclor s|lual|or, |rl|al|orary pressures ard lrererdous
racroecoror|c lurdarerla| & slruclura| pressures |as rade lrd|a's
ecoror|c groWl| |oWer l|ar projecled groWl|. T|e 0ross 0oresl|c Producl
(00P) groWl| |s projecled al o.9 º |r 2012 |oWer l|ar as aga|rsl l|e /.1 º |r
2011.
2. |ndustry 0verv|eW
0|ooa| urcerla|rl|es coup|ed W|l| la|||rg Rupee va|ue aga|rsl uS0 ard l|e
vo|al||e crude o|| pr|ces pose urprecederled c|a||erges lo l|e lrd|ar rel|r|rg
|rduslry. T|e erergerce ol reW ep|cerlers ol ecoror|c groWl|, slr|cler
erv|rorrerla| rorrs ard ava||ao|||ly ol |rproved lue| lec|ro|og|es, |ave
corpe||ed l|e lrd|ar rel|r|rg |rduslry lo evo|ve a |org lerr susla|rao|e
slralegy.
T|e s|gr|l|carl add|l|ora| rel|r|rg capac|ly |r lrd|a, C||ra ard l|e V|dd|e Easl
|as resu|led |r |rcreased derard lor |eav|er crude o|| ard |rcreased producl
ava||ao|||ly.
lrcreas|rg ava||ao|||ly ol ralura| gas |as resu|led |r rap|l|a/lue| o|| oe|rg
rep|aced oy ralura| gas lor pelroc|er|ca|, lerl|||zer leedsloc| ard lor |eal|rg.
Suos|d|zed d|ese| ava||ao|||ly |r l|e courlry |as |rcreased |ls corsurpl|or
corpared lo rolor sp|r|l. T|ese c|arges |r corsurpl|or pallerr ol l|e
pelro|eur producls s||lls derard lror ||g|l d|sl|||ales lo r|dd|e d|sl|||ales.
Ar|d l|ese s||ll|rg lrerds, lrd|ar Rel|rers are expecled lo oe oerel|led |r l|e
|org rur ard are oeller pos|l|ored lo adapl lo l|e c|arg|rg lrerds |r producl
usage due lo prox|r|ly lo ||g| groWl| rar|el, re|al|ve|y corp|ex p|arls ard
|rcreas|rg verl|ca| |rlegral|or.
Your corpary |as ac||eved ||g|esl ever rel|rery l|rupul ol 12.82 VVT
dur|rg l|e year 2011-12 corpared lo 12.o4 VVT dur|rg l|e prev|ous year
ard |||e|y lo |rcrease |ls l|rupul |r v|eW ol er|arced capac|ly ol 15 VVTPA.
Product|on by your company dur|ng the year 2011-12.
PP00u6T un|ts |n HT
LP0 289083
H $ 1010525
H|XE0 XYLENE 155o25
NAPThA 1142/o9
$ K 0 3234/0
h $ 0 - PEF|NEPY 518/140
A T F 1195/38
V00 8/249
F 0 2192380
L $ h $ 1282o
A$PhALT 24o1o5
6PHß 43o91
$uLPhuP o588o
T0TAL 1195254I
lrd|a |s a rel exporler ol pelro|eur producls. lrd|ar rel|rers |ave oeer
verlur|rg |rlo cap|la| |rveslrerl |r doWrslrear lo corverl |egal|ve/|oW
rarg|r producls |||e rap|l|a, lo produce ||g|er va|ue added producls.
|nd|a'sconsumpt|on&product|onpatternofpetro|eumproductsdur|ng
2011-12.
PP00u6T 6onsumpt|on[000'HT) Product|on[000'HT)
LP0 153o/ 9554
H$ 14993 2/20/
Naphtha 11188 18/0/
ATF 553o 100o1
$K0 8229 8019
h$0 o4/53 82929
T0TAL 14I991 15ê4II
lrlerral|ora| crude o|| pr|ces |as oeer or a ro||er-coasler r|de over l|e pasl
lWo year oW|rg lo geo-po||l|ca| deve|oprerls suc| as l|e c|v|| urresl |r L|oya
ard dead|oc| over lrar's ruc|ear p|ars. T|e pr|ce ol o||, W||c| averaged
arourd $80 |r 2010, c||roed lo $110 per oarre| |r 2011 ard lurl|er lo $125 |r
Varc| 2012. loWever, |l le|| s|arp|y |r Apr|| ard Vay, l||s year ard reac|ed
|eve|s oe|oW $ 100 per oarre| |r l|e l|rsl lWo Wee|s ol Jure, 2012.
T|e crude o|| |rporl over l|e year |as oeer groW|rg due lo |rcreased rel|r|rg
capac|l|es ard |s expecled lo groW lurl|er |r lulure as l|ere |s slagral|or |r
l|e doresl|c producl|or ard reW l|rd|rgs.
10
Annua| Peport 2011-12
6rude|mportsby|nd|a:[000'HT):
3. 0pportun|t|es & Threat
Erergy |s esserl|a| lor ecoror|c groWl| ard |r aoserce ol v|ao|e a|lerral|ves;
corsurpl|or/ derard lor pelro|eur producls |s expecled lo r|se. 0roWl| |r
rel|rery capac|ly add|l|or |s expecled lo oulpace groWl| |r derard ard W|||
|eep a c|ec| or operal|rg vo|ures. 0erard |r Europe ard uS |s expecled
lo s|r|r| or al oesl slay urc|arged. Europear rel|rers are a|ready lac|rg l|e
orurl ol ecoror|c s|oWdoWr ard ||g| o|| pr|ces. T|e year 2011-12 W|lressed
severa| rel|rery c|osures |r Europe ard uS. T|ese c|osures W||| |rcrease l|e
ourder or rel|rers al As|a ard V|dd|e Easl.
Ererg|rg ecoror|es, espec|a||y |r As|a, ray lee| pressure lror l|e s|ugg|s|
Europear ecorory, ard are |||e|y lo see sore s|oWdoWr |r derard groWl|.
Al a l|re W|er |rl|al|orary pressure |as roderaled, C||ra ard lrd|a cou|d
ease rorelary po||c|es lo ooosl ecoror|c groWl| lo ra|rla|r a slrorg oul|oo|
lor Pelro|eur producls groWl| |r l|e reg|or. V|dd|e d|sl|||ale seclor W|||
rera|r l|e dr|ver lor As|ar rel|r|rg rarg|rs; Suos|dy or d|ese| |r ererg|rg
ecoror|es |r As|a W||| s||e|d l|e rela|| corsurers lror ||g| ard vo|al||e o||
pr|ces, supporl|rg slrorg derard groWl|. Recorslrucl|or Wor| |r Japar |s
a|so|||e|yloprov|delurl|erooosl|rderard.As|a'slue|o||rar|el|aseased
due lo ar |rcrease |r l|e arr|va| ol rore our|er- grade lue| supp||es lror l|e
V|dd|e Easl. 0vera||, l|e oul|oo| lor As|ar rel|r|rg |rduslr|es corl|rues lo
rera|r pos|l|ve.
lr lrd|a, rel|rery ous|ress |s oas|ca||y uS 0o||ar (uS0) dor|raled. T|e pr|ces
lor ool| l|e crude o|| ard producls are oased or |rlerral|ora| quole s|rce
ool| l|ese are do||ar deror|raled, exc|arge l|uclual|or |r Rupee 0o||ar rale
are auloral|ca||y laclored ard prov|des a ralura| |edge aga|rsl exc|arge
rale vo|al|||ly |r rorra| course. loWever, sudder ard loo ruc| l|uclual|or
causes |rpacl.
ll Was a year |r W||c| C0u/V0u ol P|ase-lll projecl Was successlu||y
corr|ss|ored ard ol|er ur|ls are oe|rg progress|ve|y corr|ss|ored. C0u-l
deooll|erec||rg ard revarp ol ool| lydro Crac|er ur|ls (lCu) |as a|so
oeer corp|eled. Your corpary |s sell|rg up a Po|ypropy|ere p|arl ard a
SPVlac|||lylosusla|ryourCorpary'scorpel|l|veadvarlage.
4. P|sks & 6oncerns
Your Corpary operales |r a ous|ress erv|rorrerl l|al |s c|aracler|zed
oy |rcreas|rg g|ooa||zal|or, |rlers|ly|rg corpel|l|or ard rore corp|ex
lec|ro|og|es. T|ese c|aracler|sl|cs |ave l|e|r oWr sels ol r|s|s ard corcerrs
W||c| your corpary laclors |r |ls ous|ress. Rel|rer|es are suscepl|o|e lo l|e
r|s| ol l|re|y supp|y ol crude o|| lor srool| producl|or lo avo|d s|orlage
ol crude W||c| ray resu|l |rlo reducl|or |r l|rupul. Crude Supp|y r|s| ray
oe caused due lo ary slressed geo po||l|ca| s|lual|or W|l| l|e supp||er
ral|or, ror-ava||ao|||ly ol su|lao|e vesse| ard reducl|or ol crude supp|y oy
0rgar|zal|or ol l|e Pelro|eur Exporl|rg Courlr|es (0PEC).
Your Corpary |as oeer corl|ruous|y d|vers|ly|rg l|e sources ol procurererl
ol crude oy add|rg rore courlr|es ard crude. Your corpary |r|l|a||y |ad or|y
lerr corlracls W|l| lrar ard al preserl crude are oe|rg procured lror SAu0l
ARAVC0 (|al|ora| 0|| Corpary ol K|rgdor ol Saud| Arao|a), A0|0C
(|al|ora| 0|| Corpary ol 0overrrerl ol Aou 0|ao|), |l0C (|al|ora| 0||
Corpary ol lrar) ard KuWa|l Pelro|eur Corporal|or (KPC).6oroay l|g|,
|||e o|erd ard Sa||a||r Crude lror 0|0C 0roup Corpar|es are a|so
procuredorarr's|ergl|oas|s.0ur|rgl|eyear2011-12,yourcorpary|as
processed l|ree reW crudes |.e., Agoar|, C0C0, Ve|||la| ard corl|rues lo
expard |ls crude oas|el.
T|e lrd|ar Rupee (l|R) deprec|aled oy rear|y 20º aga|rsl l|e uS 0o||ar
(uS0) dur|rg l|e year 2011-12. Your Corpary |s a|so exposed lo l|e r|s|
ol vo|al|||ly |r |rlerral|ora| pr|ces ol crude o|| ard pelro|eur producls a|org
W|l| lore|gr exc|arge vo|al|||ly W||c| cou|d |rpacl l|e |rporl ol crude or
lerr oas|s as aga|rsl ouy|rg crude |r spol rar|el or rorl| lo rorl| oas|s,
ersur|rg l|rr supp|y ol crude lo |ls rel|rery. Your corpary |rporls arourd
80º ol |ls requ|rererl ol crude o|| ard |s preserl|y exporl|rg approx|rale|y
4/º ol l|e lola| producl|or vo|ure W|ere sa|e proceeds are rea||zed |r uS0
ard ever |r case ol doresl|c sa|es W|ere l|e sa|e pr|ces are oased or
lrade/ |rporl par|ly pr|ces der|ved lror producl pr|ces |r lrlerral|ora| rar|el
corverled lror uS0, l|ere |s a ralura| |edge lo a |arge exlerl. loWever
sudder l|uclual|ors |r crude ard producl pr|ces W||| |ave s|gr|l|carl ellecl or
l|e rarg|rs ol l|e corpary.
Pr|ce ol rajor producls (Pelro| ard 0|ese|) |r 0oresl|c Sa|es |s oased or
TradePar|lyPr|ces(80ºlrporlPar|lyPr|ce÷20ºExporlPar|lypr|rc|p|es),
W||c| |s l|xed oased or l|e producl pr|ces ol preced|rg lorlr|g|l, lerce ary
l|uclual|or |r l|e |rlerral|ora| crude pr|ces gels caplured |r l|e sa|e pr|ce lo a
|arge exlerl so |org as l|e pr|ces ol producls lo||oW l|e sare pallerr as l|al
ol l|uclual|or |r crude o|| pr|ces.
Your corpary exporls |ls rajor producls |||e lS0, ATF ard VX urder
lerder or average ol l|e rorl| pr|ces, W||c| reduces l|e r|s| ol |rlra rorl|
pr|ce l|uclual|ors. Exporls ol F0 & |ap|l|a are ever|y spread over l|e year
l|ereoy averag|rg l|e ga|rs/|osses ol 5 days pr|c|rg lo Vorl||y Average
Pr|c|rg lor la||rg care ol l|uclual|ors ol l|e pr|ces dur|rg l|e rorl|.
|or ava||ao|||ly ol su|lao|e vesse| lor corl|rred |ay days resu|l|rg |r s|orlage
ol crude ard reducl|or |r l|rupul/ ror ||ll|rg c|a|r lror supp||ers, parl|cu|ar|y
|r case ol lrar|ar crude purc|ases, |oWever opl|ors are ava||ao|e lo ||ll
lrar|ar crude o|| or ClF oas|s |r l|e lrar|ar vesse|s W||c| ray r|l|gale l|e
r|s| ol crude supp|y. C|arler|rg ol vesse|s ol your corpary |s oe|rg dore oy
TRA|SClART (V|r|slry ol S||pp|rg, 0overrrerl ol lrd|a). Your corpary
|s corl|ruous|y ror|lor|rg ard coord|ral|rg W|l| TRA|SClART ard s||p-
oWrers lo |derl|ly ard l|ra||ze su|lao|e vesse|s We|| |r advarce ard |ave oeer
ao|e lo rarage ||ll|rg ol a|| corlracled/ spol crude parce|s.
Your corpary |s lac|rg d|ll|cu|ly |r rer|ll|rg l|e payrerls lor l|e |rporl ol
crude o|| lror lrar due lo Europear ur|or (Eu) sarcl|ors ard d|srarl||rg ol
As|ar C|ear|rg ur|or (ACu) oy Reserve 6ar| ol lrd|a (R6l) W|l| ellecl lror
23rd 0eceroer 2010.lrd|a |as oeer g|ver Wa|ver oy uS lror l|e sarcl|ors
aga|rsl lrar or par W|l| courlr|es |||e Japar, Tur|ey ard Soul| Korea W|o
are a|| |rporlers ol lrar|ar 0|| lo overcore l||s cr|s|s. 0ue lo l|e |rperd|rg
Eu sarcl|ors l|real or lrar, |l cou|d oe poss|o|e l|al vesse|s Wou|d rol oe
ava||ao|e W|l| 3rd parly |rsurarce cover lror P&l c|uos, rosl|y oased oul ol
Europe W|er ca|||rg lrar|ar porls. T||s ray allecl ava||ao|||ly ol lorrage lo
|oad cargoes lror lrar ool| lror l|e C0A |o|ders ard spol rar|el.
lrsurarce cover lor l|e lrar|ar crude up-||llrerl |s preserl|y arrarged
l|roug| l|e |al|ora| lrar|ar 0|| Corpary (|l0C), lor W||c|, l|e payrerl
|s oe|rg rer|lled lo |l0C, |r l|e ex|sl|rg payrerl rel|odo|ogy lor crude
o|| purc|ases.Your corpary |s |r l|e process ol evo|v|rg a|lerral|ve
arrargererl lor sourc|rg crude W|l| l|e |e|p ol l|e ol|er |rduslry reroers
urder l|e gu|darce ol V|r|slry ol Pelro|eur ard |alura| 0as (VoP&|0), |r
case l|e uS ard Europear ur|or sarcl|ors are lu||y lurcl|ora| ard sourc|rg
ol lrar crude oecores d|ll|cu|l.
Your corpary |as perce|ved r|s| as regards lo supp|y ol ul|||l|es v|z. slear
ard poWer lror l|e Capl|ve PoWer P|arl (CPP) ol l|e P|ase-lll ur|l oe|rg
ou||l oy V/s 6lEL due lo corl|ruous de|ay. Your corpary cou|d rur parl ol
l|e ur|ls ol l|e P|ase-lll W|l| l|e exlerded slear ard poWer lac|||l|es lror
P|ase-l ard P|ase-ll lac|||l|es ol l|e rel|rery.
Pelro F|u|d|zed Cala|yl|c Crac||rg ur|l (PFCCu) ard 0e|ayed Co|er ur|l
(0Cu) W||c| are rarg|r dr|vers ol your corpary car oe corr|ss|ored or|y
orava||ao|||lyolslearardpoWerlror6lEL'sCapl|vePoWerP|arl(CPP)
ol l|e P|ase-lll.
Your corpary a|so perce|ved cerla|r r|s| as regards lo |rlraslruclure
deve|oped oy Varga|ore SEZ (VSEZ) L|r|led W||c| cou|d |rpacl l|e srool|
operal|or ol P|ase-lll lac|||l|es. T|e P|ase-lll projecl Was |rp|ererled oased
or l|e assurarce oy VSEZ L|r|led lor supp|y|rg raW Waler l|roug| p|pe||re,
|rlraslruclure lor ell|uerl d|sposa|, corr|dor lor rovererl ol lruc|s ard ol|er
ve||c|es, A|| l|ese lac|||l|es requ|red lo oe deve|oped oy VSEZ L|r|led lor
srool| lurcl|or|rg ol var|ous ur|ls ol P|ase-lll projecl. loWever, your
corpary |s expecl|rg de|ays lor l|ese upcor|rg lac|||l|es ard |rlraslruclure
oy VSEZ W||c| cou|d |rpacl l|e operal|or ol ur|l ol P|ase-lll.
Your corpary |s corcerred or l|re|y deve|oprerl ol |rlraslruclure lor
rar|el|rg ol var|ous reW producls |||e Pel co|e ard po|ypropy|ere. Your
corpary |s a|so corcerred or var|ous regal|ve laclors |||e s|orlage ol Waler,
11
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
60HHENT$ 0F ThE 60HPTP0LLEP AN0 Au0|T0P 0ENEPAL 0F |N0|A uN0EP $E6T|0N ê19[4) 0F ThE 60HPAN|E$ A6T, 195ê 0N ThE A660uNT$ 0F
HAN0AL0PE PEF|NEPY AN0 PETP06hEH|6AL$ L|H|TE0, HAN0AL0PE F0P ThE YEAP EN0E0 31 HAP6h, 2012.
T|e preparal|or ol l|rarc|a| slalererls ol Varga|ore Rel|rery ard Pelroc|er|ca|s L|r|led, Varga|ore lor l|e year erded 31 Varc|, 2012 |r accordarce W|l| l|e l|rarc|a|
reporl|rg lrareWor| prescr|oed urder l|e Corpar|es Acl, 195o |s l|e respors|o|||ly ol l|e raragererl ol l|e corpary. T|e slalulory aud|lors appo|rled oy l|e Corplro||er
ard Aud|lor 0erera| ol lrd|a urder Secl|or o19(2) ol l|e Corpar|es Acl, 195o |s respors|o|e lor express|rg op|r|or or l|ese l|rarc|a| slalererls urder Secl|or 22/ ol l|e
Corpar|es Acl, 195o oased or |rdeperderl aud|l |r accordarce W|l| l|e aud|l|rg ard assurarce slardards prescr|oed oy l|e|r proless|ora| oody, l|e lrsl|lule ol C|arlered
Accourlarls ol lrd|a. T||s |s slaled lo |ave oeer dore oy l|er v|de l|e|r Aud|l Reporl daled 23.5.2012.
l, or oe|a|l ol l|e Corplro||er ard Aud|lor 0erera| ol lrd|a, |ave corducled a supp|ererlary aud|l urder Secl|or o19(3)(o) ol l|e Corpar|es Acl, 195o ol l|e l|rarc|a|
slalererls ol Varga|ore Rel|rery ard Pelroc|er|ca|s L|r|led, Varga|ore lor l|e year erded 31 Varc|, 2012. T||s supp|ererlary aud|l |as oeer carr|ed oul |rdeperderl|y
W|l|oul access lo l|e Wor||rg papers ol l|e slalulory aud|lor ard |s ||r|led pr|rar||y lo |rqu|r|es ol l|e slalulory aud|lor ard corpary persorre| ard a se|ecl|ve exar|ral|or ol
sore ol l|e accourl|rg records. 0r l|e oas|s ol ry aud|l, rol||rg s|gr|l|carl |as core lo ry |roW|edge W||c| Wou|d g|ve r|se lo ary correrl upor or supp|ererl lo Slalulory
Aud|lor'sreporlurderSecl|oro19(4)oll|eCorpar|esAcl,195o.
[$. PAJAN|)
P|ace : C|erra| Pr|rc|pa| 0|reclor 0l Correrc|a| Aud|l
0ale : 10
l|
Ju|y, 2012 Ard Ex-0ll|c|o Veroer Aud|l 6oard, C|erra|
dep|eled reservo|rs due lo poor rorsoor ard ol|er ralura| ca|ar|l|es W||c|
cou|d |rpacl l|e operal|or ol l|e rel|rery.
loWever, your corpary |as la|er a corpre|ers|ve rega r|s| |rsurarce
cover lor |ls assel lo saleguard l|er lror l|ese urloreseer r|s|s as We|| as
|oss ol prol|l due lo ous|ress |rlerrupl|ors.
Your Corpary |as lorru|aled a We||-del|red po||cy lrareWor| |rc|ud|rg
|rp|ererlal|or procedure ard ror|lor|rg rec|ar|sr lor l|e r|s|
raragererl sysler |r p|ace. R|s| Varagers are eva|ual|rg l|e |derl|l|ed
r|s|s or quarler|y oas|s ard |derl|ly|rg reW r|s|s W|l| l|e r|l|gal|or reasures.
T|e r|s| erv|rorrerl ol your corpary |s oe|rg re-assessed oy lrdeperderl
R|s| Varagererl corsu|larcy ol lrlerral|ora| repule.
5. $trateg|c ßus|ness Pursu|ts & Future 0ut|ook
Your corpary |s |rp|ererl|rg P|ase-lll rel|rery expars|or ard up gradal|or
projecl ard |as ac||eved ar overa|| progress ol 95./º as ol 15/0//2012.
T|e rarep|ale capac|ly ol l|e rel|rery |as oeer er|arced lo 15 VVTPA or
29/03/2012 oy successlu| corr|ss|or|rg ol 3 VVTPA Crude ard Vaccur
0|sl|||al|or ur|l dur|rg l|e year 2011-2012.
T|e ol|er ur|ls ol P|ase-lll projecl v|z. lydroger 0ereral|or ur|l (l0u),
0|ese| lydro Trealer ur|l (0l0Tu), Su|p|ur Recovery ur|l (SRu), Capl|ve
PoWer P|arl (CPP), Pelro F|u|d|zed Cala|yl|c Crac||rg ur|l (PFCCu),
0e|ayed Co|er ur|l (0Cu), ard Co|er 0as 0|| lydro Trealer ur|l (ClTu)
are oe|rg progress|ve|y corr|ss|ored. Your corpary W||| oe oerel|led W|l|
l|e corr|ss|or|rg ol l|ese ur|ls oy produc|rg va|ue added producls |||e
Propy|erelrorl|e|oWva|ueo|ac|o||,produc|rgEuro?lll,lVardVgrade
ol l|g| Speed 0|ese| (lS0) ard d|sl|||ale y|e|d ol l|e rel|rery W||| go oeyord
80º .
Your Corpary |s sell|rg up a Po|ypropy|ere p|arl |rlegraled W|l| P|ase-
lll projecl lor ready ava||ao|||ly ol raW raler|a| lo doWrslrear process|rg
|rduslry ard |as ac||eved ar overa|| progress ol 82.2º as ol 15/0//2012.
Your corpary |s sell|rg up a Po|ypropy|ere (PP) p|arl W|l| l|e capac|ly ol
440 KTPA, |rlegraled W|l| P|ase- lll expars|or ol rel|rery corp|ex W|l| ar
|rveslrerl ol ` 18,03/.8 V||||or lor supp|y|rg lo doWrslrear process|rg
|rduslry. 0ela||ed ous|ress p|ar lor sa|e ol Po|ypropy|ere |r doresl|c rar|el
|s oe|rg l|ra||zed. Slorage lrlraslruclure lor Po|ypropy|ere |s oe|rg deve|oped
al lassar |r l|e Slale ol Karrala|a.
Keep|rg |r v|eW l|e urder recover|es |r rela|| rar|el|rg ol aulo-lue|s, your
corpary corl|rues lo adopl a ror aggress|ve approac| W|l| |ls r|r|scu|e
preserce |r l|e rela|| rar|el|rg.
Your corpary |s a|so sell|rg up a S|rg|e Po|rl Voor|rg (SPV) lac|||ly a|org
Coasla| 6oosler purp|rg slal|or W|l||r |eW Varga|ore Porl ||r|ls al a
|ocal|or ol 1o |||orelers |rs|de l|e sea, W||c| Wou|d rece|ve o|gger vesse|s
(VLCC) lor ava|||rg oerel|l ol lre|g|l or lrarsporlal|or ol crude o||. w|l| SPV,
your corpary car source opporlur|ly crudes lror wesl Alr|car ard Lal|r
Arer|car courlr|es. 0e-corgesl|or ol ex|sl|rg jell|es al |eW Varga|ore Porl
Trusl (|VPT) W||| oe ul|||zed lor |ard||rg rore pelro|eur producls. T|roug|
l|e SPV lac|||ly, crude W||| oe purped lo l|e lrd|ar Slraleg|c Pelro|eur
Reserve L|r|led (lSPRL) urdergrourd caverr lor slorage ol Crude o||, |s
|||e|y lo oe operal|ora| or|y oy 2013-14. Fu|| oerel|l ol SPV lac|||ly W||| oe
ava||ao|e or|y aller lSPRL |s operal|ora|.
Yourcorpary'srarg|rsareexpecledlo|rcreases|gr|l|carl|yW|l|operal|or
ol a|| l|e aoove lac|||l|es. 0overrrerl ol Karrala|a |as a|so g|ver allracl|ve
|rcerl|ve pac|age |||e erlry lax exerpl|or, sa|es lax exerpl|or; Wa|ver ol
VAT or P|ase-lll W||c| W||| |rcrease l|e prol|l rarg|rs.
0ur|rg 0|ooa| lrveslors Veel or /
l|
& 8
l|
Jure, 2012 al 6erga|uru, your
corpary |as s|gred a Verorardur ol urderslard|rg W|l| l|e 0overrrerl
ol Karrala|a lor sell|rg up a L|rear A||y| 6erzere P|arl, a raW raler|a| lo
rarulaclure 0elergerls ard lo expard |ls Rel|r|rg capac|ly lo 21 VVTPA
suojecl lo lec|ro- ecoror|c v|ao|||ly ard ava||ao|||ly ol requ|red |rlraslruclure
al Varga|ore W|l| ar approx|rale |rveslrerl ol ` 85,000 V||||or.
o. |nterna| 6ontro| $ystems
Your corpary rera|rs corr|lled lo ersure ar ellecl|ve |rlerra| corlro|
erv|rorrerl l|al prov|des assurarce or l|e ell|c|ercy ol operal|ors ard
secur|ly ol assels. lrlerra| aud|l deparlrerl lurcl|ors urder l|e superv|s|or
ol l|e Aud|l corr|llee c|a|red oy ar lrdeperderl 0|reclor. Your corpary
|as a We|| eslao||s|ed |rlerra| corlro| rev|eW rec|ar|sr W||c| assures
ellecl|ve |rlerra| corlro| erv|rorrerl lo l|e Aud|l corr|llee ard 6oard ol
0|reclors.
Aparl lror l|e aoove, l|e Corpary's V|g||arce 0eparlrerl |as oeer
carry|rg oul var|ous v|g||arce acl|v|l|es oy rears ol |rspecl|ors, dela||ed
exar|ral|ors, sludy ol rajor Wor| orders/ purc|ase orders, scrul|ry ol
deered s|rg|e lerders ard lerders or ror|ral|or oas|s
/. Performance
0ur|rg l|e l|rarc|a| year 2011-12 your Corpary |as ac||eved reW |e|g|ls
ol perlorrarce ool| or p|ys|ca| ard l|rarc|a| pararelers ard surpassed |ls
pasl perlorrarce oy sell|rg up a reW oerc| rar|.
Your corpary ac||eved ||g|esl ever rel|rery crude l|rupul al 12.82 VVT
aga|rsl 12.o4 VVT dur|rg l|e prev|ous year, Turrover al ` 5/2,0o8 V||||or
aga|rsl ` 43/,23o V||||or dur|rg l|e prev|ous year, Exporl Turrover al
` 234,183 V||||or aga|rsl ` 14o,042 V||||or dur|rg l|e prev|ous year ard
ac||eved |oWesl ever erergy corsurpl|or |rdex ol 5/.92 V6|.
8. human Pesources
0ur|rg l|e year 2011-12, your corpary corl|rued lo erjoy cord|a| ard
|arror|ous re|al|ors W|l| l|e co||ecl|ves ard as ev|derce lo l|e sare rol a
s|rg|e rar-|our Was |osl or accourl ol ary |rduslr|a| d|sluroarce.
T|e ruroer ol erp|oyees as or 31/03/2012 Was 1500 |rc|ud|rg 104 Worer
erp|oyees, 0ul ol l|ese erp|oyees 59/ are lror Varagererl cadre
W|ereas 903 are lror |or-Varagererl cadre. T|e ruroer ol Erp|oyees
oe|org|rg lo SC/ST calegor|es are 129 ard PC are 5.
9. 6aut|onary $tatement
Slalererls |r l|e Varagererl 0|scuss|or ard Ara|ys|s ard 0|reclors
Reporldescr|o|rgl|eCorpary'soojecl|ves,projecl|orsardesl|rales,are
lorWard-|oo||rg slalererls ard progress|ve W|l||r l|e rear|rg ol app||cao|e
|aWs ard regu|al|ors. Aclua| resu|ls ray vary lror l|ose expressed or
|rp||ed, deperd|rg upor ecoror|c cord|l|ors, 0overrrerl Po||c|es ard
ol|er |rc|derla| laclors. Readers are caul|ored rol lo p|ace urdue re||arce
or l|e lorWard |oo||rg slalererls.
ANNEXuPE - |||
12
Annua| Peport 2011-12
Au0|T0P$'PEP0PT
7R
7KH0HPEHUVRI0DQJDORUH5HILQHU\DQG3HWURFKHPLFDOV/LPLWHG
1. we |ave aud|led l|e allac|ed 6a|arce S|eel ol 0DQJDORUH 5HILQHU\ DQG
3HWURFKHPLFDOV /LPLWHG as al 31
sl
Varc|, 2012, l|e Slalererl ol Prol|l ard
Loss ard a|so l|e Cas| F|oW slalererl lor l|e year erded or l|al dale arrexed
l|erelo. T|ese l|rarc|a| slalererls are l|e respors|o|||ly ol l|e corpary's
raragererl. 0ur respors|o|||ly |s lo express ar op|r|or or l|ese l|rarc|a|
slalererls oased or our aud|l.
2. we corducled our aud|l |r accordarce W|l| l|e aud|l|rg slardards gerera||y
accepled |r lrd|a. T|ose Slardards requ|re l|al We p|ar ard perlorr l|e
aud|l lo oola|r reasorao|e assurarce W|el|er l|e l|rarc|a| slalererls are
lree ol raler|a| r|sslalererl. Ar aud|l |rc|udes exar|r|rg, or a lesl oas|s,
ev|derce supporl|rg l|e arourls ard d|sc|osures |r l|e l|rarc|a| slalererls.
Ar aud|l a|so |rc|udes assess|rg l|e accourl|rg pr|rc|p|es used ard s|gr|l|carl
esl|rales rade oy raragererl, as We|| as eva|ual|rg l|e overa|| l|rarc|a|
slalererl preserlal|or. we oe||eve l|al our aud|l prov|des a reasorao|e oas|s
lor our op|r|or.
3. As requ|red oy l|e Corpar|es (Aud|lor's Reporl) 0rder, 2003 |ssued oy
l|e 0overrrerl ol lrd|a |r lerrs ol suo-secl|or (4A) ol Secl|or 22/ ol l|e
Corpar|es Acl, 195o.
we erc|ose |r l|e Arrexure a slalererl or l|e rallers spec|l|ed |r paragrap|s
4 ard 5 ol l|e sa|d 0rder.
Furl|er lo our correrls |r l|e Arrexure relerred urder Paragrap| (3) aoove,
We reporl l|al:
|. we |ave oola|red a|| l|e |rlorral|or ard exp|aral|ors, W||c| lo l|e oesl
ol our |roW|edge ard oe||el Were recessary lor l|e purposes ol our aud|l;
||. lr our op|r|or. Proper ooo|s ol accourl as requ|red oy |aW |ave oeer |epl
oy l|e corpary so lar as appears lror our exar|ral|or ol l|ose ooo|s.
|||. T|e 6a|arce S|eel, Slalererl ol Prol|l ard Loss ard Cas| F|oW slalererl
dea|l W|l| oy l||s reporl are |r agreererl W|l| l|e ooo|s ol accourl.
|v. lr our op|r|or, l|e 6a|arce S|eel, Slalererl ol Prol|l ard Loss ard
Cas| F|oW slalererl dea|l W|l| oy l||s reporl corp|y W|l| l|e accourl|rg
slardards relerred lo |r suo-secl|or (3C) ol secl|or 211 ol l|e Corpar|es
Acl, 195o ard W|l|oul qua||ly|rg our op|r|or relererce |s draWr lo role ro
30.05 or AS-1/ Segrerl Reporl|rg.
v. 6e|rg a 0overrrerl Corpary Prov|s|or ol C|ause (g) ol Suo-secl|or
(1) ol Secl|or 2/4 ol l|e Corpar|es Acl, 195o, |s rol app||cao|e as per
rol|l|cal|or ro. 0SR 829(E) daled 0clooer 21, 2003, |ssued oy l|e V|r|slry
ol Corporale Alla|rs.
v|. lr our op|r|or, ard lo l|e oesl ol our |rlorral|or ard accord|rg lo l|e
exp|aral|ors g|ver lo us, l|e sa|d accourls read logel|er W|l| l|e
s|gr|l|carl accourl|rg po||c|es ard roles l|ereor g|ve l|e |rlorral|or
requ|red oy l|e Corpar|es Acl, 195o |r l|e rarrer so requ|red ard g|ve
a lrue ard la|r v|eW |r corlorr|ly W|l| l|e accourl|rg pr|rc|p|es gerera||y
accepled |r lrd|a:
a. |r l|e case ol l|e 6a|arce S|eel, ol l|e slale ol alla|rs ol l|e corpary
as al 31sl Varc|, 2012;
o. |r l|e case ol l|e Slalererl ol Prol|l ard Loss, ol l|e prol|l lor l|e
year erded or l|al dale; ard
c. |r l|e case ol l|e Cas| F|oW slalererl, ol l|e cas| l|oWs lor l|e year
erded or l|al dale.
For HAhAPAJ N.P.$uPE$h & 60 For 00PALA|YEP AN0 $ußPAHAN|AN
C|arlered Accourlarls C|arlered Accourlarls
F|rr Reg|slral|or |o 001931S F|rr Reg|slral|or |o 0009o0S
6.A. N.P.$uPE$h 6.A. $.$uN0AP
Parlrer Parlrer
Veroers||p |o. 021oo1 Veroers||p |o.202/25
P|ace: |eW 0e|||
0ale: 23
rd
Vay, 2012.
Peferred tc in paragraph J cf cur repcrt cf even date
(|) a) T|e Corpary |as ra|rla|red proper records, s|oW|rg lu|| parl|cu|ars,
|rc|ud|rg quarl|lal|ve dela||s ard s|lual|or ol l|xed assels.
o) A|| l|e assels |ave rol oeer p|ys|ca||y ver|l|ed oy l|e raragererl
dur|rg l|e year oul l|ere |s a regu|ar prograrre ol ver|l|cal|or, W||c|,
|r our op|r|or, |s reasorao|e |av|rg regard lo l|e s|ze ol l|e corpary
ard l|e ralure ol |ls assels. |o raler|a| d|screparc|es |ave oeer
rol|ced or suc| ver|l|cal|or.
c) lr our op|r|or ard accord|rg lo l|e exp|aral|ors g|ver lo us, l|e
Corpary |as rol d|sposed oll suoslarl|a| parl ol l|xed assels, dur|rg
l|e year ard l|e 0o|rg Corcerr Corcepl ol l|e Corpary |as rol
oeer allecled.
(||) a) we are |rlorred l|al l|e |rverlor|es ol slores ard spares are p|ys|ca||y
ver|l|ed, dur|rg l|e year, oy l|e raragererl or a corl|ru|rg oas|s as
per prograrre ol perpelua| |rverlory. lrverlor|es ol ol|er |lers |ave
oeer p|ys|ca||y ver|l|ed al l|e year erd, l|e lrequercy ol W||c|, |r our
op|r|or |s reasorao|e, |av|rg regard lo l|e s|ze ol l|e corpary ard
ralure ol |ls ous|ress.
o) lr our op|r|or ard accord|rg lo l|e exp|aral|or g|ver lo us, l|e
procedures ol p|ys|ca| ver|l|cal|or ol |rverlory lo||oWed oy l|e
raragererl are reasorao|e ard adequale |r re|al|or lo l|e s|ze ol
l|e corpary ard l|e ralure ol |ls ous|ress.
c) T|e corpary |s ra|rla|r|rg proper records ol |rverlory.T|e
d|screparc|es rol|ced or ver|l|cal|or oy l|e Varagererl oelWeer l|e
p|ys|ca| sloc| ard ooo| records |ave oeer proper|y dea|l W|l| |r l|e
ooo|s ol accourl ard Were rol raler|a|.
(|||) (a) T|e Corpary |as rol grarled ary |oars, secured or ursecured lo
corpar|es, l|rrs or ol|er parl|es covered |r l|e reg|sler ra|rla|red
urder secl|or 301 ol l|e Corpar|es Acl, 195o.
(o) T|e Corpary |as rol la|er ary |oars, secured or ursecured lror
corpar|es, l|rrs or ol|er parl|es covered |r l|e reg|sler ra|rla|red
urder secl|or 301 ol l|e Corpar|es Acl, 195o.
(|v) lr our op|r|or ard accord|rg lo l|e |rlorral|or ard exp|aral|ors g|ver lo
us, l|ere |s ar adequale |rlerra| corlro| sysler corrersurale W|l| l|e s|ze
ol l|e corpary ard ralure ol |ls ous|ress, W|l| regard lo l|e purc|ases ol
|rverlory, l|xed assels ard W|l| regard lo l|e sa|e ol goods ard serv|ces.
0ur|rg l|e course ol our aud|l, We |ave rol ooserved ary corl|ru|rg la||ure lo
correcl rajor Wea|resses |r |rlerra| corlro| sysler ol l|e corpary.
(v) Accord|rg lo l|e |rlorral|or ard exp|aral|or g|ver lo us
(a) parl|cu|ars ol corlracls or arrargererls relerred lo |r Secl|or 301
ol l|e Corpar|es Acl,195o |ave oeer erlered |rlo ard l|e reg|sler
requ|red lo oe ra|rla|red urder l|al Secl|or.
(o) lrarsacl|ors rade |r pursuarce ol suc| corlracls or arrargererls
|ave oeer rade al pr|ces W||c| are reasorao|e |av|rg regard lo l|e
preva|||rg rar|el pr|ce al l|e re|evarl l|re.
13
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
(v|) Accord|rg lo l|e |rlorral|or ard exp|aral|ors g|ver lo us, l|e Corpary |as
rol accepled ary depos|ls lror l|e puo||c dur|rg l|e year ard |erce l|e
d|recl|ves |ssued oy l|e Reserve 6ar| ol lrd|a ard prov|s|ors ol secl|ors
58A, 58AA or ary ol|er re|evarl prov|s|ors ol l|e Corpar|es Acl, 195o ard
l|e ru|es lrared l|ere urder are rol app||cao|e.
(v||) lr our 0p|r|or, l|e Corpary |as ar |rlerra| aud|l sysler corrersurale
W|l| l|e s|ze ard ralure ol |ls ous|ress.
(v|||) we |ave oroad|y rev|eWed l|e Cosl Records ra|rla|red oy l|e Corpary
pursuarl lo l|e Corpar|es (Cosl Accourl|rg Records) Ru|es. 2011
prescr|oed oy l|e Cerlra| 0overrrerl urder secl|or 209 (1) (d) ol l|e
Corpar|es Acl 195o, lor ra|rlerarce ol Cosl Records ard We are ol l|e
op|r|or l|al pr|ra lac|e l|e prescr|oed accourls ard records |ave oeer
rade ard ra|rla|red.
Name of the $tatue Nature of the 0ues Tota| Amount
[` H||||ons)
Per|od to Wh|ch
the amount re|ates
[F|nanc|a| Year)
Forum Where the d|spute |s pend|ng
T|e Karrala|a Sa|es Tax Acl, 195// Cerlra| Sa|es lax Acl,
195o/ T|e Karrala|a Tax or Erlry ol 0oods Acl, 19/9.
Sa|es Tax/ Erlry Tax/
lrleresl ard Pera|ly
321.49 1993-94 lo 1998-99 Assessrerl are perd|rg oelore l|e
Assess|rg Aul|or|l|es
lrcore Tax Acl, 19o1 lrcore Tax / lrleresl /
Pera|ly
122.48 2005-0o lrcore Tax Appe||ale Aul|or|ly ard
Corr|ss|orer ol lrcore Tax(Appea|s)
Cerlra| Exc|se Acl, 1944 Cerlra| Exc|se 0uly/
Serv|ce Tax/ lrleresl/
Pera|ly
4o1.09 199o-9/ lo 2011-12 Cerlra| Exc|se Appe||ale Aul|or|l|es/
V|r|slry ol F|rarce, 0overrrerl ol
lrd|a.
T|e Cuslors Acl, 19o2 Cuslors 0uly/lrleresl/
Pera|ly
o4/.54 1998-99 lo 2009-10 Cuslors Appe||ale Aul|or|l|es.
(x) T|e Corpary |as ro accuru|aled |osses al al 31sl Varc| 2012.T|e Corpary |as rol |rcurred cas| |osses dur|rg l|e year ard |r l|e |rred|ale|y preced|rg F|rarc|a|
Year.
(x|) Accord|rg lo |rlorral|or ard exp|aral|ors g|ver lo us ard as per our ver|l|cal|or ol l|e records ol l|e corpary, l|e corpary |as rol delau|led |r repayrerl ol dues lo
l|e l|rarc|a| |rsl|lul|ors ard oar|s.
(x||) T|e Corpary |as rol grarled ary |oars or advarces or l|e oas|s ol l|e secur|ly oy Way ol p|edge ol s|are, deoerlure ard ol|er secur|l|es.
(x|||) S|rce l|e corpary |s rol a C||l Furd/ ||d||/ Vulua| 6erel|l Furd/ Soc|ely, l|e re|aled reporl|rg requ|rererls are rol app||cao|e.
(x|v) T|e Corpary Was dea||rg |r Vulua| Furd lrveslrerls dur|rg l|e Year. Proper Records ol Trarsacl|ors ard Corlracls |ave oeer ra|rla|red ard l|re|y erlr|es |ave
oeer rade. T|e sa|d |rveslrerls |ave oeer |e|d oy l|e corpary |r |ls oWr rare.
(xv) Accord|rg lo l|e |rlorral|or ard exp|aral|ors g|ver lo us, l|e lerrs ard cord|l|ors ol l|e 0uararlees g|ver oy l|e Corpary, lor l|e |oars la|er oy |eW Varga|ore Porl
Trusl lror 6ar|s ard F|rarc|a| lrsl|lul|ors, are rol prejud|c|a| lo l|e lrleresl ol l|e Corpary. Excepl lor l|e aoove, l|e Corpary |as rol g|ver ary guararlee, lor |oars
la|er oy ol|ers, lror oar|s or l|rarc|a| |rsl|lul|ors.
(xv|) Accord|rg lo l|e |rlorral|or ard exp|aral|ors g|ver lo us, l|e corpary |as ava||ed lerr |oars dur|rg l|e year ard l|e sare |ave oeer app||ed lor l|e purpose lor W||c|
l|e Loars Were oola|red excepl Rs.o40 V||||or ava||ed al l|e erd ol l|e year |rvesled |r depos|ls W|l| oar|s.
(xv||) Accord|rg lo l|e |rlorral|or ard exp|aral|ors g|ver lo us ard or ar overa|| exar|ral|or ol l|e F|rarc|a| Slalererls ol l|e Corpary We reporl l|al l|e lurds ra|sed or
s|orl lerr oas|s |ave rol oeer ul|||zed lor |org lerr |rveslrerl.
(xv|||) 0ur|rg l|e year l|e Corpary |as rol rade ary prelererl|a| a||olrerl ol s|ares .
(x|x) T|e Corpary |as ro oulslard|rg deoerlures al l|e erd ol l|e year.
(xx) T|e Corpary |as rol ra|sed ary rorey oy puo||c |ssues dur|rg l|e year.
(xx|) Accord|rg lo l|e |rlorral|or ard exp|aral|or g|ver lo us, ro lraud or or oy l|e Corpary |as oeer rol|ced or reporled dur|rg l|e year.
(|x) a) Accord|rg lo l|e |rlorral|or ard exp|aral|ors g|ver lo us ard as per
l|e records ol l|e corpary, l|e Corpary |as oeer gerera||y regu|ar
|r depos|l|rg urd|spuled slalulory dues |rc|ud|rg Prov|derl Furd,
lrveslorEducal|orardProlecl|orFurd,Erp|oyee'sSlalelrsurarce,
lrcore Tax, Sa|es Tax,wea|l| Tax,Serv|ce Tax,Cuslors 0uly,Exc|se
0uly ard ol|er slalulory dues W|l| l|e appropr|ale aul|or|l|es dur|rg
l|e year. T|ere are ro arrears ol urd|spuled slalulory dues ol raler|a|
ralure oulslard|rg lor a per|od ol rore l|ar o rorl|s, lror l|e dale
or W||c| l|ey oecare payao|e.
o) Accord|rg lo l|e |rlorral|or ard exp|aral|ors g|ver lo us ard as per
our ver|l|cal|or ol records ol l|e corpary, l|e d|spuled arourls ol lax
W||c| are rol depos|led W|l| appropr|ale aul|or|l|es as al 31sl Varc|
2012, are as lo||oWs:
For HAhAPAJ N.P.$uPE$h & 6o
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 001931S
For 00PALA|YEP AN0 $ußPAHAN|AN
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 0009o0S
6A N P $uPE$h
Parlrer
Veroers||p |o. 021oo1
6A $. $uN0AP
Parlrer
Veroers||p |o. 202/25
|eW 0e||| : 23
rd
Vay, 2012
14
Annua| Peport 2011-12
ßALAN6E $hEET A$ AT 31$T HAP6h 2012
[ ` |n H||||on)
Part|cu|ars Note No. A$ AT
31st Harch 2012
A$ AT
31st Harch 2011
l. E0u|TY AN0 L|Aß|L|T|E$
1 $hareho|ders'funds
(a) S|are cap|la| 2 1/,5/2.5/ 1/,o18.50
(o) Reserves ard Surp|us 3 54,/19.3/ 4/,o/0.51
2 Non-current ||ab|||t|es
(a) Lorg-lerr oorroW|rgs 4 38,919.12 10,o5o.o/
(o) 0elerred lax ||ao|||l|es (|el) 5 4,531.40 3,4/1.o4
(c) 0l|er Lorg lerr ||ao|||l|es ê 20.29 33.59
(d) Lorg-lerr prov|s|ors I 288.o/ 234./9
3 6urrent ||ab|||t|es
(a) S|orl-lerr oorroW|rgs 8 18,59/.93 599.03
(o) Trade payao|es 9 111,04o.o0 88,922.12
(c) 0l|er currerl ||ao|||l|es 10 12,819.35 11,012.05
(d) S|orl-lerr prov|s|ors 11 3,045.o2 4,/92.42
T0TAL 2ê1,5ê0.92 185,011.32
ll. A$$ET$
Non-current assets
1 (a) F|xed assels 12
(|) Targ|o|e assels 40,525.04 30,818.54
(||) lrlarg|o|e assels /3.39 //.o3
(|||) Cap|la| Wor|-|r-progress /0,891./4 39,953.35
(o) |or-currerl |rveslrerls 13 150.02 150.02
(c) Lorg-lerr |oars ard advarces 14 /,530.51 15,o13.0o
(d) 0l|er ror-currerl assels 15 21.40 13.04
2 6urrent assets
(a) Currerl |rveslrerls 1ê 2/2./8 2/2./8
(o) lrverlor|es 1I /8,1/5./o 40,9/3.84
(c) Trade rece|vao|es 18 34,592.oo 25,300.80
(d) Cas| ard 6ar| oa|arces 19 22,34/.1o 24,o/o.48
(e) S|orl-lerr |oars ard advarces 20 5,/o1.20 o,582.o2
(l) 0l|er currerl assels 21 1,219.2o 5/9.1o
T0TAL 2ê1,5ê0.92 185,011.32
S|gr|l|carl Accourl|rg Po||c|es 1
0l|er 0|sc|osure 30
See accorpary|rg roles lo l|e F|rarc|a| Slalererls
As per our report of even date attached For and on beha|f of the ßoard
For HAhAPAJ N.P.$uPE$h & 6o
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 001931S
For 00PALA|YEP AN0 $ußPAHAN|AN
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 0009o0S
$u0h|P VA$u0EVA
C|a|rrar
6A N P $uPE$h
Parlrer
Veroers||p |o. 021oo1
6A $. $uN0AP
Parlrer
Veroers||p |o. 202/25
u. K. ßA$u
Varag|rg 0|reclor
|eW 0e||| : 23
rd
Vay, 2012 0|NE$h H|$hPA
Corpary Secrelary
V|$hNu A0PAwAL
0|reclor (F|rarce)
15
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
As per our report of even date attached For and on beha|f of the ßoard
For HAhAPAJ N.P.$uPE$h & 6o
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 001931S
For 00PALA|YEP AN0 $ußPAHAN|AN
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 0009o0S
$u0h|P VA$u0EVA
C|a|rrar
6A N P $uPE$h
Parlrer
Veroers||p |o. 021oo1
6A $. $uN0AP
Parlrer
Veroers||p |o. 202/25
u. K. ßA$u
Varag|rg 0|reclor
|eW 0e||| : 23
rd
Vay, 2012 0|NE$h H|$hPA
Corpary Secrelary
V|$hNu A0PAwAL
0|reclor (F|rarce)
$TATEHENT 0F PP0F|T AN0 L0$$ A660uNT F0P ThE YEAP EN0E0 31$T HAP6h, 2012
[ ` |n H||||on)
Part|cu|ars Pefer Note
No.
For the year ended
31.03.2012
For the year ended
31.03.2011
l. Reverue lror operal|ors 22 5/2,13o.88 43/,304.5/
Less: Exc|se 0uly 34,434.12 48,435.oo
|el Reverue lror 0peral|ors 53/,/02./o 388,8o8.91
ll. 0l|er |rcore 23 3,4/3./o 2,103.83
lll. Tota| Pevenue [| + ||) 541,1Iê.52 390,9I2.I4
lV. Experses:
Cosl ol raler|a|s corsured (Reler role 30.14) 512,3o/.50 3/2,193.3/
lrcrease (-) / decrease lr sloc| 24 -1,502.05 -8,152./1
Erp|oyee oerel|ls experse 25 1,o0o.42 1,845.35
F|rarce cosls 2ê 2,0oo.// 1,04o.54
0eprec|al|or ard arorl|zal|or experse 2I 4,338./3 3,914.19
0l|er experses 28 9,09/.12 2,/55.18
Tota| expenses 52I,9I4.49 3I3,ê01.92
V. Prof|t before except|ona| and extraord|nary |tems and tax [|||-|V) 13,202.03 1I,3I0.82
Vl. Excepl|ora| |lers - -
Vll. Prof|t before extraord|nary |tems and tax [V - V|) 13,202.03 1I,3I0.82
Vlll. Exlraord|rary llers - -
lX. Prof|t before tax [V||- V|||) 13,202.03 1I,3I0.82
X Tax experse:
(1) Currerl lax 3,042.2/ 8,/80.50
(2) Pr|or Year's Tax adjuslrerls 14.23 -45.43
(3) 0elerred lax 1,059./5 -3,130.58
Xl Prof|t [Loss) for the year [|X - X) 9,085.I8 11,Iêê.33
Xll Earr|rgs per equ|ly s|are: 29
(1) 6as|c 5.18 o./1
(2) 0||uled 4.94 o.21
S|gr|l|carl Accourl|rg Po||c|es 1
0l|er 0|sc|osure 30
See accorpary|rg roles lo l|e F|rarc|a| Slalererls
1o
Annua| Peport 2011-12
[` |n H||||on)
For the year ended
31.03.2012
For l|e year erded
31.03.2011
A. 6A$h FL0w FP0H 0PEPAT|N0 A6T|V|T|E$ :
Prof|t ßefore Tax 13,202.03 1I,3I0.82
Ad[ustments for :
- 0eprec|al|or / Arorl|sal|or 4,393.80 3,930.30
- Loss/ (Prol|l) or sa|e ol F|xed Assels 12.oo 18.31
- Prov|s|ors wr|ller oac| (o1.10) (201.3o)
- Prov|s|or lor 0ouollu| 0eols/ Advarces - 10o.53
- Prov|s|or lor |or-Vov|rg lrverlory/ Sloc| Loss 1.o8 0.40
- lrleresl Experse 2,0oo.// 1,04o.54
- lrleresl/ 0|v|derd lrcore (3,241.2o) (1,848.o8)
0perat|ng Prof|t before work|ng 6ap|ta| changes 1ê,3I4.58 20,422.8ê
Adjuslrerl lor :
- Trade ard ol|er rece|vao|es (1,3o5.93) (14,o09./4)
- lrverlor|es (3/,203.o5) (9,830.o9)
- Trade payao|e ard prov|s|ors 19,959.88 31,o/3.90
Cas| gereraled lror operal|ors (2,235.12) 2/,o5o.33
- 0|recl laxes pa|d (rel ol relurds) (4,322.5o) (8,212.21)
Cas| l|oW oelore Pr|or Per|od |lers (o,55/.o8) 19,444.12
- Pr|or Per|od |lers (cas| |lers) (33.25) (20.35)
Net 6ash f|oW from 0perat|ng Act|v|t|es [a) [ê,590.93) 19,423.II
ß. 6A$h FL0w FP0H |NVE$T|N0 A6T|V|T|E$
Purc|ase ol F|xed assels (32,o48.92) (35,o23.01)
Sa|e ol F|xed assels 13.04 o.84
lrleresl/ 0|v|derd lrcore rece|ved 3,285.9o 2,o23.8/
lrveslrerl |r Assoc|ale/ Jo|rl verlure corpar|es - -
Tax Pa|d or lrleresl lrcore (292.o5) (219.93)
Net 6ash f|oW from |nvest|ng Act|v|t|es [b) [29,ê42.5I) [33,212.23)
6. 6A$h FL0w FP0H F|NAN6|N0 A6T|V|T|E$
Proceeds lror lssue ol S|are Cap|la| (45.93) -
Proceeds lror Lorg Terr 6orroW|rgs 28,2o2.45 0.00
Proceeds lror S|orl Terr 6orroW|rgs 1/,998.91 (1,394.22)
lrleresl ard F|rarce c|arges pa|d (2,0o5.o3) (1,04o.53)
0|v|derd ard 0|v|derd lax pa|d (2,444.31) (2,452.43)
Net 6ash f|oW from F|nanc|ng Act|v|t|es [c) 41,I05.49 [4,893.18)
-Net |ncrease | [0ecrease) |n 6ash and 6ash Equ|va|ents [a+b+c) 5,4I1.99 (18,o81.o4)
6ash and 6ash Equ|va|ents as at the beg|nn|ng of the year 1ê,ê98.10 35,3/9./4
6ash and 6ash Equ|va|ents as at the end of the year 22,1I0.09 1o,o98.10
5,4I1.99 (18,o81.o4)
1) Cas| ard Cas| Equ|va|erls
Cas| oa|arces |rc|ud|rg |rpresl 0./8 0.20
C|eques or lard - -
6ar| 6a|arces W|l| Sc|edu|e 6ar|s¯¯ 22,1o9.31 1o,o9/.90
22,1I0.09 1o,o98.10
¯¯ Exc|udes oa|arces |r currerl accourl/depos|l accourl ol |rleresl Warrarl/relurd accourls, urder ||er, p|edge W|l| oar|s / 0ovl. aul|or|l|es ` 1//.0/ (Prev|ous Year
` /,9/8.38 V||||or )
2) Prev|ous Year's l|gures |ave oeer re-grouped/ re-arrarged W|ereever recessary lo corlorr lo l|e currerl year's preserlal|or.
6A$h FL0w $TATEHENT F0P ThE YEAP EN0E0 31$T HAP6h, 2012
As per our report of even date attached For and on beha|f of the ßoard
For HAhAPAJ N.P.$uPE$h & 6o
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 001931S
For 00PALA|YEP AN0 $ußPAHAN|AN
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 0009o0S
$u0h|P VA$u0EVA
C|a|rrar
6A N P $uPE$h
Parlrer
Veroers||p |o. 021oo1
6A $. $uN0AP
Parlrer
Veroers||p |o. 202/25
u. K. ßA$u
Varag|rg 0|reclor
|eW 0e||| : 23
rd
Vay, 2012 0|NE$h H|$hPA
Corpary Secrelary
V|$hNu A0PAwAL
0|reclor (F|rarce)
1/
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
N0TE 1
$|0N|F|6ANT A660uNT|N0 P0L|6|E$
1 Account|ng 6onvent|ons and ßas|s of Presentat|on | Account|ng
1.1 T|e l|rarc|a| slalererls are prepared urder l|e ||slor|ca| cosl
corverl|or, |r accordarce W|l| l|e 0erera||y Accepled Accourl|rg
Pr|rc|p|es (0AAP), l|e prov|s|ors ol l|e Corpar|es Acl, 195o ard
l|e Accourl|rg Slardards |ssued urder l|e Corpar|es (Accourl|rg
Slardards) Ru|es, 200o
1.2 A|| |rcore ard experses lo l|e exlerl cors|dered rece|vao|e / payao|e
W|l| reasorao|e cerla|rly are accourled lor or accrua| oas|s.
2 use of Est|mates
T|e preparal|or ol l|rarc|a| slalererls requ|res esl|rales ard assurpl|ors
lo oe rade l|al allecl l|e reporled arourl ol assels ard ||ao|||l|es or l|e
dale ol l|e l|rarc|a| slalererls ard l|e reporled arourl ol reverues ard
experses dur|rg l|e reporl|rg per|od. T|e d|llererce oelWeer l|e aclua|
resu|ls ard esl|rales are recogr|sed |r l|e per|od |r W||c| l|e resu|ls are
|roWr / raler|a||sed.
3 6ash F|oW $tatement
Cas| F|oW Slalererl |as oeer prepared |r accordarce W|l| l|e |rd|recl
rel|od prescr|oed |r Accourl|rg Slardard - 3 |ssued urder l|e Corpar|es
(Accourl|rg Slardards) Ru|es, 200o ard as requ|red oy l|e Secur|l|es ard
Exc|arge 6oard ol lrd|a.
4 F|xed Assets
4.1 Lard |s slaled al ||slor|ca| cosl |ess arorl|sal|or W|erever app||cao|e.
4.2 0l|er F|xed assels are slaled al ||slor|ca| cosl |ess accuru|aled
deprec|al|or/ Arorl|sal|or ard |rpa|rrerl.
4.3 Spares rece|ved a|org W|l| l|e P|arl or Equ|prerl ard l|ose
purc|ased suosequerl|y lor spec|l|c rac||rery ard |av|rg |rregu|ar
use are cap|la||sed.
4.4 0ur|rg l|e per|od ol corslrucl|or, d|recl|y |derl|l|ao|e experses are
cap|la||sed al l|e l|rsl |rslarce ard a|| ol|er a||ocao|e experses are
cap|la||sed proporl|orale|y or l|e oas|s ol l|e va|ue ol l|e assels.
4.5 Cosl lor l||s purpose |rc|udes purc|ase pr|ces, dul|es (rel ol cerval),
laxes, |rc|derla| experses, erecl|or / corr|ss|or|rg experses,
lec|r|ca| |roW|oW lee, proless|ora| lee, |rleresl uplo l|e dale l|e
assel |s pul lo use ard exc|arge rale d|llererces ar|s|rg or |org
lerr lore|gr currercy rorelary |lers |r so lar as l|ey re|ale lo l|e
acqu|s|l|or ol deprec|ao|e assels elc.
5 |mpa|rment
lrpa|rrerl ol cas| gereral|rg ur|ls / assels |s ascerla|red ard cors|dered
W|ere l|e carry|rg cosl exceeds l|e recoverao|e arourl oe|rg l|e ||g|er ol
rel rea||sao|e arourl ard va|ue |r use.
ê 0eprec|at|on | Amort|sat|on
o.1 0eprec|al|or or F|xed Assels (|rc|ud|rg l|ose la|er or |ease) |s
prov|ded or Slra|g|l L|re Vel|od, al l|e rales ard |r l|e rarrer
spec|l|ed |r Sc|edu|e XlV lo l|e Corpar|es Acl, 195o.
o.2 Cosl ol |ease|o|d |ard |s arorl|sed over l|e |ease per|od. Cosl ol
|ease|o|d |ards W|ere l|e lrarsler ol oWrers||p lo l|e corpary or
exp|ry ol l|e |ease per|od |s everlua||y cerla|r are rol arorl|sed.
N0TE$
o.3 0eprec|al|or or arourls cap|la||sed or accourl ol lore|gr exc|arge
l|uclual|or |s prov|ded prospecl|ve|y over res|dua| ||le ol l|e assels.
o.4 0eprec|al|or or spares, |av|rg |rregu|ar use ard purc|ased
suosequerl lo l|e |rsla||al|or ol spec|l|c rac||rery |s prov|ded
prospecl|ve|y over res|dua| ||le ol l|e spec|l|c rac||rery ard Wr|ller
doWr va|ue ol l|e spare |s c|arged lo Prol|l ard Loss Accourl as ard
W|er rep|aced.
I |ntang|b|e Assets:
Cosl |rcurred or |rlarg|o|e assel, resu|l|rg |r lulure ecoror|c oerel|ls are
cap|la||sed as |rlarg|o|e assels ard arorl|sed or equaled oas|s over l|e
esl|raled uselu| ||le ol suc| assels.
8 |nvestments
8.1 Lorg lerr |rveslrerls are va|ued al cosl. Prov|s|or |s rade lor ary
d|r|rul|or, ol|er l|ar lerporary |r l|e accourls.
8.2 Currerl lrveslrerls are va|ued al |oWer ol cosl ard la|r va|ue.
9 |nventor|es
lrverlor|es are va|ued al |oWer ol cosl ard rel rea||sao|e va|ue. Cosl ol
|rverlor|es corpr|ses ol purc|ase cosl ard ol|er cosls |rcurred |r or|rg|rg
|rverlor|es lo l|e|r preserl |ocal|or ard cord|l|or. T|e cosl |as oeer
delerr|red as urder:
9.1 RaW raler|a| - or F|rsl |r F|rsl oul (FlF0) oas|s.
9.2 F|r|s|ed Producls - al RaW raler|a| ,Corvers|or cosl ard exc|se duly.
9.3 Sloc|-|r-Process - al RaW raler|a| ard Proporl|orale Corvers|or
cosl.
9.4 Slores, Spares ard ol|er lrad|rg 0oods - or We|g|led average cosl
oas|s
10 Pevenue Pecogn|t|on
10.1 Sa|es are recogr|sed or lrarsler ol cuslody lo cuslorers ard |rc|udes
a|| slalulory |ev|es excepl Va|ue Added Tax (VAT) ard |s rel ol
d|scourls.
10.2 0|v|derd |rcore |s recogr|sed W|er l|e r|g|l lo rece|ve l|e d|v|derd
|s eslao||s|ed.
10.3 lrleresl |rcore |s recogr|sed or a l|re proporl|or oas|s
10.4 Reverue lror sa|e ol scrap are recogr|sed or lrarsler ol cuslody lo
cuslorers.
10.5 Reverue |r respecl ol L|qu|daled 0arages lror corlraclors/ supp||ers
|s recogr|sed W|er delerr|red as rol payao|e.
10.o Exc|se duly recovery lror cuslorer |s deducled lror Turrover (gross).
Exc|se duly d|llererl|a| oelWeer c|os|rg ard oper|rg sloc| ol exc|sao|e
goods |s |rc|uded urder ol|er experses.
11 6|a|ms
11.1 C|a|rs/Surrerders or/lo Pelro|eur P|arr|rg ard Ara|ys|s Ce||,
0overrrerl ol lrd|a are ooo|ed or'|r pr|rc|p|e acceplarce' l|ereol
or l|e oas|s ol ava||ao|e |rslrucl|ors/c|ar|l|cal|ors suojecl lo l|ra|
adjuslrerls, as sl|pu|aled.
18
Annua| Peport 2011-12
11.2 lrsurarce C|a|rs
11.2.1 lr case ol lola| |oss ol assel, or |rl|ral|or lo l|e |rsurer, e|l|er l|e
carry|rg cosl ol l|e assel or |rsurarce va|ue (suojecl lo deducl|o|e
excess) W||c|ever |s |oWer |s lrealed as c|a|rs recoverao|e lror
|rsurarce corpary. lr case |rsurarce c|a|r |s |ess l|ar l|e carry|rg
cosl ol l|e assel, l|e d|llererce |s c|arged lo Prol|l ard Loss
accourl.
11.2.2 lr case ol parl|a| or ol|er |osses, experd|lure |rcurred / payrerls
rade lo pul suc| assels oac| |rlo use, lo reel l|e l||rd parly or ol|er
||ao|||l|es (Less deducl|o|e excess) |l ary, are accourled lor as c|a|rs
rece|vao|e lror |rsurarce corpary. lrsurarce Po||cy 0educl|o|e
Excess are expersed |r l|e year l|e correspord|rg experd|lure |s
|rcurred'
11.2.3 As ard W|er c|a|rs are l|ra||y rece|ved lror l|e |rsurarce corpary,
l|e d|llererce, |l ary, oelWeer l|e c|a|r rece|vao|e lror |rsurarce
corpary ard c|a|rs rece|ved |s adjusled lo Prol|l ard Loss
accourl
11.3 A|| ol|er c|a|rs ard prov|s|ors are ooo|ed or l|e rer|ls ol eac| case.
12 Fore|gn 6urrency Transact|ons
12.1 Fore|gr Currercy Trarsacl|ors are accourled lor al l|e exc|arge
rales preva|||rg or l|e dale ol l|e lrarsacl|ors.
12.2 T|e lore|gr currercy assels / ||ao|||l|es ol rorelary |lers are lrars|aled
us|rg l|e exc|arge rales preva|||rg or l|e reporl|rg dale.
12.3 T|e exc|arge d|llererces or lrars|al|or ol lore|gr currercy
lrarsacal|ors or l|e reporl|rg dale are recogr|sed as |rcore or
experse ard adjusled lo l|e prol|l ard |oss accourl excepl exc|arge
d|llererces ar|s|rg or reporl|rg ol |org lerr lore|gr currercy rorelary
|lers |r so lar as l|ey re|ale lo l|e acqu|s|l|or ol deprec|ao|e cap|la|
assels are added lo /or deducled lror cosl ol l|e assels.
12.4 T|e rar| lo rar|el |osses (rel) |r respecl ol ur-exp|red lorWard
corlracls erlered |rlo lo |edge l|e r|s| ol c|arges |r lore|gr currercy
exc|arge rales or lulure exporl sa|es aga|rsl l|e ex|sl|rg corlracl are
recogr|sed |r l|e prol|l ard |oss accourl.
13 Emp|oyee ßenef|ts
13.1 A|| s|orl lerr erp|oyee oerel|ls are recogr|sed al l|e|r urd|scourled
arourl |r l|e accourl|rg per|od |r W||c| l|ey are |rcurred. Erp|oyee
6erel|ls urder del|red corlr|oul|or p|ars corpr|s|rg prov|derl
lurd ard superarrual|or lurd are recogr|sed or l|e urd|scourled
oo||gal|ors ol l|e corpary lo corlr|oule lo l|e p|ar. T|e sare |s pa|d
lo Prov|derl Furd Trusl aul|or|l|es ard lo L|le lrsurarce Corporal|or
ol lrd|a respecl|ve|y, W||c| are expersed dur|rg l|e year
13.2 Erp|oyee oerel|ls urder del|red oerel|l p|ars corpr|s|rg ol 0ralu|ly,
|eave ercas|rerl, |org serv|ce ero|er, posl rel|rererl red|ca|
oerel|ls ard ol|er |org lerr rel|rererl oerel|ls are recogr|sed oased
or l|e preserl va|ue ol del|red oerel|l oo||gal|or, W||c| |s corpuled
or l|e oas|s ol acluar|a| va|ual|or us|rg l|e Projecled ur|l Cred|l
Vel|od. Acluar|a| ||ao|||ly |r excess ol respecl|ve p|ar assels |r respecl
ol gralu|ly |s recogr|sed dur|rg l|e year.
13.3 Acluar|a| ga|rs ard |osses are recogr|sed |r l|e Prol|l ard Loss
accourl as |rcore or experses.
13.4 urd|scourled arourl ol s|orl-lerr ||ao|||ly or accourl ol ur-ava||ed
|eave |s delerr|red ard prov|ded lor al l|e year erd.
13.5 Prov|s|or lor 0ralu|ly as per acluar|a| va|ual|or |s lurded W|l| a
separale lrusl.
14 Leases
14.1 Lease rerla|s |r respecl ol l|rarce |ease are segregaled |rlo cosl
ol assels ard |rleresl corporerl oy app|y|rg l|e |rp||c|l rale ol
relurr.
14.2 Assels acqu|red or |ease W|ere a s|gr|l|carl porl|or ol l|e r|s|s ard
reWards ol oWrers||p are rela|red oy l|e |essor are c|ass|l|ed as
operal|rg |eases. Lease rerla|s are c|arged lo l|e Prol|l ard Loss
Accourl or accrua| oas|s.
15 ßorroW|ng 6osts
6orroW|rg cosls l|al are allr|oulao|e lo acqu|s|l|or, corslrucl|or or producl|or
ol qua||ly|rg assels, are cap|la||sed as parl ol l|e cosl ol suc| assels. A
qua||ly|rg assel |s ar assel l|al recessar||y la|es a suoslarl|a| per|od ol l|re
lo gel ready lor |rlerded use. A|| ol|er oorroW|rg cosls are c|arged lo l|e
Prol|l ard Loss Accourl.
1ê Pesearch and 0eve|opment expend|ture
Cap|la| experd|lure or Researc| ard 0eve|oprerl |s cap|la||sed urder l|e
respecl|ve l|xed assels. Reverue experd|lure l|ereor |s c|arged lo Prol|l
ard Loss accourl.
1I Taxes on |ncome
1/.1 Currerl lax |s delerr|red or l|e oas|s ol laxao|e |rcore corpuled |r
accordarce W|l| l|e prov|s|ors ol l|e lrcore Tax Acl, 19o1.
1/.2 0elerred lax |s recogr|sed or l|r|rg d|llererces oelWeer laxao|e ard
accourl|rg |rcore/experd|lure l|al or|g|rales |r ore per|od ard are
capao|e ol reversa| |r ore or rore suosequerl per|od(s). 0elerred Tax
Assel |s recogr|sed or l|e oas|s ol v|rlua|/reasorao|e cerla|rly aooul
|ls rea||sao|||ly, as app||cao|e.
18 Prov|s|ons, 6ont|ngent L|ab|||t|es and 6ont|ngent Assets
Prov|s|ors |rvo|v|rg suoslarl|a| degree ol esl|ral|or |r reasurererl are
recogr|sed W|er l|ere |s a preserl oo||gal|or as a resu|l ol pasl everls ard
|l |s prooao|e l|al l|ere W||| oe ar oull|oW ol resources. Corl|rgerl ||ao|||l|es,
|l raler|a|, are d|sc|osed oy Way ol roles. Corl|rgerl Assels are re|l|er
recogr|sed ror d|sc|osed |r l|e l|rarc|a| slalererls. .
19
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
N0TE 2 $hAPE 6AP|TAL
2.1 0eta||s of Author|sed, |ssued and $ubscr|bed and Pa|d up share cap|ta|
2.1.1 Equ|ty $hare 6ap|ta| A$ AT 31st Harch 2012 A$ AT 31st Harch 2011
Number ` |n H||||on Number ` |n H||||on
Author|sed
Equ|ly S|ares ol ` 10 eac| 1,900,000,000 19,000.00 1,900,000,000 19,000
Redeerao|e Prelererce S|ares C 0.01º |or Curu|al|ve, ` 5 eac|
(Prev|ous Year ` 10 eac|)
100,000,000 1,000 100,000,000 1,000
Tota| 2,000,000,000 20,000.00 2,000,000,000 20,000
2.1.2 Equ|ty $hare 6ap|ta|
|ssued $ubscr|bed & Pa|d up
Equ|ly S|ares ol ` 10 eac| 1,/52,598,/// 1/,525.99 1,/52,598,/// 1/,525.99
Forfe|ted $hares 0.o5 0.o5
Tota| 1,/52,598,/// 1/,52o.o4 1,/52,598,/// 1/,52o.o4
2.1.3 Preference $hare 6ap|ta|
|ssued $ubscr|bed & Pa|d up
0.01º |or Curu|al|ve, Redeerao|e Prelererce S|ares ol ` 5 eac|
(Prev|ous Year ` 10 eac|)
9,18o,242 45.93 9,18o,242 91.8o
Tota| 9,18o,242 45.93 9,18o,242 91.8o
2.1.4 Tota| |ssued, $ubscr|bed & pa|d up [2.1.2+2.1.3) 1,/o1,/85,019 1/,5/2.5/ 1,/o1,/85,019 1/,o18.50
2.2 Peconc|||at|on of shares
2.2.1 Equ|ty $hares
S|ares oulslard|rg al l|e oeg|rr|rg ol l|e year 1,/52,598,/// 1/,525.99 1,/52,598,/// 1/,525.99
S|ares oulslard|rg al l|e erd ol l|e year 1,/52,598,/// 1/,525.99 1,/52,598,/// 1/,525.99
2.2.2 Preference $hares
S|ares oulslard|rg al l|e oeg|rr|rg ol l|e year 9,18o,242 91.8o 9,18o,242 91.8o
S|ares redeered dur|rg l|e year - 45.93 - -
S|ares oulslard|rg al l|e erd ol l|e year 9,18o,242 45.93 9,18o,242 91.8o
2.3 P|ghts, preferences and restr|ct|ons attached
Part|cu|ars Equ|ty $hares Preference $hares
0|slr|oul|or ol 0|v|derd As approved oy S|are|o|ders |r A0V F|xed C 0.01º or Face Va|ue
Repayrerl ol Cap|la| |ol F|xed Rederpl|or |r lWo Equa| lrsla||rerl (1sl Ju|y 2011 ard 1sl Ju|y 2012)
2.4 $hares he|d by ho|d|ng or u|t|mate ho|d|ng company or |ts subs|d|ar|es or assoc|ates
1,255,354,09/ Equ|ly S|ares (1,255,354,09/ Equ|ly S|ares ) are |e|d oy 0|0C L|r|led, l|e |o|d|rg corpary.
2.5 0eta||s of shareho|ders ho|d|ng more than 5º of tota| shares
2.5.1 Equ|ty $hares
Name of $hareho|der A$ AT 31st Harch 2012 A$ AT 31st Harch 2011
No. of $hares
he|d
º of ho|d|ng No. of $hares
he|d
º of ho|d|ng
0|| ard |alura| 0as Corporal|or L|r|led 1,255,354,09/ /1.o3º 1,255,354,09/ /1.o3º
l|rduslar Pelro|eur Corporal|or L|r|led 29/,153,518 1o.9oº 29/,153,518 1o.9oº
2.5.2 Preference $hares
lFCl L|r|led /,148,949 //.82º /,148,949 //.82º
Slale 6ar| ol lyderaoad 2,03/,293 22.18º 2,03/,293 22.18º
2.ê No shares are reserved for |ssue under opt|ons and contracts|comm|tments for the sa|e of shares|d|s|nvestment
20
Annua| Peport 2011-12
2.I 6onvert|b|e secur|t|es to equ|ty or preference shares
Name of the secur|ty No. of secur|t|es Terms of convers|on As At
31$t Harch 2012
As At
31$t Harch 2011
No of $hares No of $hares
Zero Coupor 6ord 142,809,235 Corverl|o|e |rlo Equ|ly S|ares ol ` 10 eac| al par upor delua|l
|r repayrarl ol pr|rc|p|e or |rleresl.
/1,404,o18 142,809,235
2.8 Forfe|ted $hares
A$ AT 31st Harch 2012 A$ AT 31st Harch 2011
No. of $hares Forfe|ted Amount pa|d up |n ` H||||on No. of $hares Forfe|ted Amount pa|d up |n ` H||||on
- 0.ê5 - 0.ê5
N0TE 3 PE$EPVE$ AN0 $uPPLu$
Part|cu|ars A$ AT 31st
Harch 2012
` |n H||||on
A$ AT 31st
Harch 2011
` |n H||||on
3.1 6ap|ta| Pedempt|on Peserve [Pefer Note a)
Trarsler lror Prol|l ard Loss accourl 45.93 -
3.2 $ecur|t|es Prem|um Account
As per Lasl 6a|arce S|eel 3,490.53 3,490.53
3.3 0enera| Peserve
As per Lasl 6a|arce S|eel 1,192.00 89/.00
Add : Currerl Year Trarsler - 295.00
6|os|ng ßa|ance 1,192.00 1,192.00
3.4 Prof|t and Loss Account
As per Lasl 6a|arce S|eel 42,98/.98 33,959.49
Add : Prol|l lor l|e year 9,085./8 11,/oo.33
Add : Excess Prov|s|or lor 0|v|derd |r ear||er Years - 1.4/
Less : Trarsler lo Cap|la| Rederpl|or Reserves 45.93 -
Less : Trarsler lo 0erera| Reserves - 295.00
Less : Proposed 0|v|derds or
Equ|ly 0|v|derd (C ` 1.00 per s|are (Prev|ous year ` 1.20 per s|are)) 1,/52.o0 2,103.12
Prelererce 0|v|derd (F|xed C 0.01º or Face Va|ue ol eac| S|are) 0.00 0.01
Tax or 0|v|derd 284.32 341.18
6|os|ng ßa|ance 49,990.91 42,98I.98
Tota| 54,I19.3I 4I,êI0.51
Notes
a Cap|la| rederpl|or Reserve crealed or Rederpl|or ol Prelererce s|are cap|la| ol ` 45.93 V||||or dur|rg 2011-12.
N0TE 4 L0N0 TEPH ß0PP0w|N0$
4.1 $E6uPE0
Term |oans : From ßanks
4.1.1 Pupee term Loan [Pefer Note a) - /14.05
(Terr Loar |rc|ud|rg currerl ralur|l|es v|de |ole 10 are Secured 6y Equ|lao|e rorlgage over l|e |rrovao|e
properl|es, ool| preserl & lulure ard a|so oy |ypol|ecal|or over l|e preserl ard lulure rovao|e properl|es. T|ese
Rupee Terr Loars are corverl|o|e |rlo Equ|ly S|ares |r case ol delau|l |r repayrerl ol |oars.)
4.1.2 Externa| 6ommerc|a| ßorroW|ng [E6ß) [Pefer Note b) 2,5/o.50 -
(Secured oy l|rsl par| passu C|arge over |rrovao|e l|xed assels ard l|rsl rar||rg par| passu c|arge over rovao|e
l|xed assels ool| preserl ard lulure.C|arge/secur|ly |s |r l|e process ol oe|rg crealed)
Terms of Pepayment:
0ur|rg 2015-1o : ` 38o.4/ V||||or
0ur|rg 201o-1/ : ` o44.13 V||||or
0ur|rg 201/-18 : ` //2.95 V||||or
0ur|rg 2018-19 : ` //2.95 V||||or
2,5Iê.50 I14.05
21
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
Part|cu|ars A$ AT 31st
Harch 2012
` |n H||||on
A$ AT 31st
Harch 2011
` |n H||||on
4.2 uN$E6uPE0
4.2.1 From 0thers : Term Loan from 0|0ß [Pefer Note c)
Terms of Pepayment: 4,000.00 -
0ur|rg 2013-14 : ` 1,000.00 V||||or
0ur|rg 2014-15 : ` 1,000.00 V||||or
0ur|rg 2015-1o : ` 1,000.00 V||||or
0ur|rg 201o-1/ : ` 1,000.00 V||||or
4.2.2 0eferred payment ||ab|||t|es [Pefer Note d) 2,/42.o2 2,/42.o2
Terms of Pepayment:
0ur|rg 2014-15 : ` 134.34 V||||or
0ur|rg 2015-1o : ` 555.83 V||||or
0ur|rg 201o-1/ : ` 458.1/ V||||or
0ur|rg 201/-18 : ` 530.30 V||||or
0ur|rg 2018-19 : ` 400.00 V||||or
0ur|rg 2019-20 : ` 400.00 V||||or
0ur|rg 2020-21 : ` 2o3.98 V||||or
4.2.3 Loans and advances from re|ated part|es [Pefer Note e)
Loan 1 3,o00.00 /,200.00
Loan 2 2o,000.00 -
Terms of Pepayment:
Loan 1
0ur|rg 2012-13 : ` 3,o00.00 V||||or
0ur|rg 2013-14 : ` 3,o00.00 V||||or
Loan 2
0ur|rg 2013-14 : ` 928.o0 V||||or
0ur|rg 2014-15 : ` 3,/14.30 V||||or
0ur|rg 2015-1o : ` 3,/14.30 V||||or
0ur|rg 201o-1/ : ` 3,/14.30 V||||or
0ur|rg 201/-18 : ` 3,/14.30 V||||or
0ur|rg 2018-19 : ` 3,/14.30 V||||or
0ur|rg 2019-20 : ` 3,/14.30 V||||or
0ur|rg 2020-21 : ` 2,/85.o0 V||||or
3ê,342.ê2 9,942.ê2
Tota| 38,919.12 10,ê5ê.êI
Notes:
a Rupee Terr Loar lror oar|s represerls ZER0 Coupor Loar (||| lrleresl rale) .
b T|e |rleresl rale lor EC6 |s Ll60R 0./3o8 pcl. p.a p|us rarg|r 3.30 pcl.
c T|e |rleresl rale lor 0l06 lerr |oar are 8.89 º ard 9.04º or ` 3,o50.00 V||||or ard ` 350.00 V||||or respecl|ve|y.
d 0elerred Payrerl ||ao|||ly represerl|rg Sa|es Tax delerrerl |s W|l| ||| lrleresl rale .
e T|e |rleresl rale or Terr |oar lror re|aled Parl|es |.e 0|0C are /.00 º ard 10.90 º (S6AR r|rus 3.85º) or `
3,o00.00 V||||or ard ` 2o,000.00 V||||or respecl|ve|y.
N0TE 5 0EFEPPE0 TAX L|Aß|L|T|E$ [NET)
The 6ompany has 0eferred Tax L|ab|||t|es as at 31st Harch 2012 of ` 4,531.40 H||||on[ Prev|ous Year ` 3,4I1.ê4
H||||on). The ßreakup of 0eferred Tax L|ab|||t|es |s as under:
5.1 0eferred Tax L|ab|||t|es
w0V 0|llererce or Assels o,1o2.2/ o,414.05
Tota| 5.1 ê,1ê2.2I ê,414.05
22
Annua| Peport 2011-12
Part|cu|ars A$ AT 31st
Harch 2012
` |n H||||on
A$ AT 31st
Harch 2011
` |n H||||on
5.2 0eferred Tax Assets
436 0|sa||oWarces 1,395.15 2,o90.33
0l|ers 235./2 252.08
Tota| 5.2 1,ê30.8I 2,942.41
Net 0eferred Tax L|ab|||t|es [5.1-5.2) 4,531.40 3,4I1.ê4
N0TE ê 0ThEP L0N0 TEPH L|Aß|L|T|E$
0ther L|ab|||t|es 20.29 33.59
Tota| 20.29 33.59
N0TE I L0N0 TEPH PP0V|$|0N$
Emp|oyee ßenef|ts
Leave Ercas|rerl (urlurded) (Reler |ole 30.11.01) 251.51 212.2o
Posl rel|rererl Ved|ca| ard 0l|er 6erel|ls (urlurded) (Reler |ole 30.11.01) 3/.1o 22.53
Tota| 288.êI 234.I9
N0TE 8 $h0PT TEPH ß0PP0w|N0$
8.1 $ecured
$hort term Loan From ßanks : work|ng 6ap|ta| 4/.13 599.03
(Secured oy Way ol |ypol|ecal|or ol Corpary's sloc|s ol raW raler|a|s, l|r|s|ed goods, sloc|-|r-process, slores,
spares, corporerls, ooo| deols, oulslard|rg roreys rece|vao|e, c|a|r, o|||s, corlracls, ergagererls, secur|l|es,
ool| preserl ard lulure ard lurl|er secured/lo oe secured oy res|dua| c|arge or Corpary's |rrovao|e ard rovao|e
properl|es(save ard excepl Currerl Assels) ool| preserl ard lulure, rar||rg par| passu |rler se ard |rc|ud|rg a ||er
over Corpary's F|xed 0epos|l arourl|rg lo ||| (Prev|ous Year ` /,830.00 V||||or))
4I.13 599.03
8.2 unsecured : Externa| borroW|ng
S|orl lerr Loar Fror 6ar|s : 6uyers Cred|l 18,550.80 -
18,550.80 -
Tota| 18,59I.93 599.03
N0TE 9 TPA0E PAYAßLE$
Trade Payab|es
0ulslard|rg dues lo V|cro & Sra|| Erlerpr|ses - -
0ulslard|rg dues lo ol|er l|ar V|cro & Sra|| Erlerpr|ses 111,04o.o0 88,922.12
Tota| 111,04ê.ê0 88,922.12
N0TE 10 0ThEP 6uPPENT L|Aß|L|T|E$
Currerl ralur|l|es ol |org-lerr deol (Secured) (Reler role 4.1.1) /14.05 /14.05
Currerl ralur|l|es ol |org-lerr deol (urSecured) 3,o00.00 3,o00.00
urpa|d d|v|derds (Reler |ole a) 155./9 12/./5
lrleresl or Valured 0eoerlures (Reler |ole o) 0.19 0.19
0epos|ls lror Supp||ers/Corlraclors/0l|ers 90.15 /5.53
L|ao|||ly lor 0ralu|ly (Reler role c) 32.1o o9.04
Payao|e aga|rsl Cap|la| goods 3,113.01 1,291.0o
L|ao|||ly lor Slalulory Payrerls o3o.4o 4o1.99
L|ao|||ly lor Erp|oyees 238.18 31/.o2
lrleresl Accrued oul rol due /0.00 -
Payao|e lo 0|| Corpar|es or relurd lror Correrc|a| laxes 2,884.48 2,884.48
0l|ers payao|es 1,284.88 1,4/0.34
Tota| 12,819.35 11,012.05
Notes
a |o arourl |s due lor payrerl lo lrveslor Educal|or Prolecl|or Furd.
o Prov|s|or lor lrleresl loWards d|spuled C|a|rs
c |el ol arourl rece|vao|e lror 0ralu|ly lrusl
23
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
Part|cu|ars A$ AT 31st
Harch 2012
` |n H||||on
A$ AT 31st
Harch 2011
` |n H||||on
N0TE 11 $h0PT TEPH PP0V|$|0N$
11.1 Emp|oyee ßenef|ts
For Leave (urlurded) (Reler |ole 30.11.01) 38.o8 31.55
For Posl rel|rererl Ved|ca| ard 0l|er 6erel|ls (urlurded) (Reler |ole 30.11.01) 5.05 0.49
For Sa|ary & 0l|er Re|roursererls 31.22 1o./2
11.2 0thers
For Taxal|or (|el ol Advarce Tax) 219.84 1,034.83
For 0|v|derd 1,/52.o0 2,103.13
For Corporale 0|v|derd Tax 284.32 341.18
0l|ers (Reler |ole a) /13.91 1,2o4.52
Tota| 3,045.ê2 4,I92.42
|oles
T|e corpary |ad recogr|sed ||ao|||ly oased or suoslarl|a| degree ol esl|ral|or lor exc|se duly payao|e or c|earerce
ol goods |y|rg |r sloc| as or 31sl rarc| 2012 ard lor 31sl rarc| 2011 lor ` o92./1 V||||or ard ` 1,241./2 V||||or
respecl|ve|y
N0TE 12 F|XE0 A$$ET$
F|xed Assetst Pefer
Note
usefu| 0ross ß|ock 0eprec|at|on| Amort|sat|on Net ß|ock
L|fe |n
Years
As at
01-04-2011
Add|t|ons 0educt|ons|
Ad[ustments
As at
31-03-2012
As at
01-04-2011
6harge for
the year
0educt|ons|
Ad[ustments
As at
31-03-2012
As at
31-03-2012
As at
31-03-2011
` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on
12.1 Tang|b|e Assets
Lard : Free|o|d 1/.o5 - - 1/.o5 - - - - 1/.o5 1/.o5
Lard urder |ease a , o 2o8.o1 0.o3 - 2o9.24 0.45 0.08 - 0.53 2o8./1 2o8.1o
6u||d|rgs 2,932.24 410.20 - 3,342.44 o/0.81 59.31 - /30.12 2,o12.32 2,2o1.43
P|arl ard Equ|prerl c , d /2,39/.05 13,o/4.58 48.oo 8o,022.9/ 44,41/.5/ 4,2/9./4 3/.9o 48,o59.35 3/,3o3.o3 2/,9/9.48
Furr|lure ard F|xlures 115.o2 5.9/ 1.18 120.41 o1.58 8.0/ 0.9o o8.o9 51./2 54.04
Ve||c|es 22o./0 5.2/ 30.8/ 201.10 oo.88 19.84 12.45 /4.2/ 12o.83 159.82
Assets not |n use he|d for 0|sposa| e - - - -
Lard : Free|o|d //.9o - - //.9o - - - - //.9o //.9o
0l|ers 2.58 3.93 0.11 o.40 2.58 0.33 2./3 0.18 o.22 -
Tota| Tang|b|e Assets Iê,038.41 14,100.58 80.82 90,058.1I 45,219.8I 4,3êI.3I 54.10 49,533.14 40,525.04 30,818.54
12.2 |ntang|b|e Assets
- -
0oodW||| l 10 20.13 - - 20.13 8.05 2.01 - 10.0o 10.0/ 12.08
Corpuler sollWare 10 4.4/ - - 4.4/ 1.44 0.45 - 1.89 2.58 3.03
Corpuler sollWare 3 o9.82 25.4o - 95.28 11.58 25.39 - 3o.9/ 58.31 58.24
Corpuler sollWare / 0.81 - - 0.81 0.21 0.12 - 0.33 0.48 0.o0
Corpuler sollWare 4 /.39 - - /.39 3./1 1./3 - 5.44 1.95 3.o8
L|cerses ard lrarc||se 3 5o.50 - - 5o.50 5o.50 - - 5o.50 - -
Tota| |ntang|b|e Assets 159.12 25.4ê - 184.58 81.49 29.I0 - 111.19 I3.39 II.ê3
Tota| Iê,19I.53 14,12ê.04 80.82 90,242.I5 45,301.3ê 4,39I.0I 54.10 49,ê44.33 40,598.43 30,89ê.1I
Prev|ous Year I4,351.ê5 1,929.ê4 83.Iê Iê,19I.53 41,428.08 3,931.89 58.ê1 45,301.3ê 30,89ê.1I 32,923.5I
12.3 6ap|ta| work |n Progress g - - - - /0,891./4 39,953.35
Tota| - - - - - - - - I0,891.I4 39,953.35
|oles
a. lrc|udes ` 2o1.50 V||||or (Prev|ous Year ` 2o0.8/ V||||or) W||c| |as rol oeer arorl|sed |r v|eW ol l|e lacl l|al everlua||y l|e oWrers||p W||| gel lrarslerred lo l|e
Corpary or exp|ry ol l|e |ease per|od, ol W||c| ` 11.52 V||||or (Prev|ous Year ` 11.52 V||||or) |s |r l|e process oe|rg surrerdered lo Corpelerl Aul|or|ly. |el 6|oc|
` 11.52 V||||or (Prev|ous Year ` 11.52 V||||or) .
o. lrc|udes |ard va|ue ` 29.99 V||||or (Prev|ous Year ` 29.99 V||||or), W||c| |s |r possess|or ol l|e corpary loWards W||c| lorra| |ease deeds are yel lo oe execuled .
|el 6|oc| ` 29.92 V||||or (Prev|ous Year ` 29.92 V||||or)
c. lrc|udes ` /82.98 V||||or (Prev|ous Year ` /82.98 V||||or) oe|rg Corpary's s|are ol ar assel jo|rl|y oWred W|l| arol|er Corpary. |el 6|oc| ` 120./3 V||||or
(Prev|ous Year ` 1o2.0/ V||||or).
d. lrc|udes 0ll|ce Equ|prerls
e. Assels rol |r use ard |e|d lor sa|e |s s|oWr al |oWer ol cosl or esl|raled rea||sao|e va|ue.
l. Represerls cors|deral|or lor purc|ase ol ous|ress (||lroger P|arl) |r excess ol ooo| va|ue ol rel assels acqu|red.
24
Annua| Peport 2011-12
g) Cap|la| wor| lr Progress (lrc|ud|rg Projecl experses lo oe Cap|la||sed appropr|ale|y) ( ` |n H||||on)
Part|cu|ars A$ AT A$ AT A$ AT A$ AT
31|03|2012 31|03|2012 31|03|2011 31|03|2011
Cap|la| wor|-|r-Progress 82,913.95 40,9o2.3o
Projecl experd|lure lo oe Cap|la||sed appropr|ale|y
Sa|ar|es, wages & 0ralu|ly 499./2 330.2o
Corlr|oul|or lo P.F & Superarrual|or Furd o3.81 43.14
Slall we|lare Experses 0.41 0.41
Rales & Taxes 2.// 1.o1
lrsurarce 3o1.99 292.1o
V|sce||areous Experses 132.4o 82.11
ERV Loss/ (ga|r) 2o.14 0.01
lrleresl ard F|rarce Cosl 889.5o -
0eprec|al|or 8.02 1,984.88 4./5 /54.45
Tota| [a+b) 84,898.83 41,/1o.81
Less : Amount 6ap|ta||sed to F|xed assets dur|ng the year 14,00/.09 1,/o3.4o
Net 6ap|ta| work-|n-Progress /0,891./4 39,953.35
h) 0eprec|at|on prov|ded dur|ng the year |nc|udes:
|) C|arged lo Prol|l & Loss Accourl : ` 4,338./3 V||||or ( Prev|ous Year ` 3,914.19 V||||or)
||) C|arged lo Adjuslrerls re|aled lo Pr|or Per|od (|el) : ` 55.0/ ( Prev|ous Year ` 1o.11 V||||or)
|||) C|arged lo Cap|la| wor| |r Progress: ` 3.2/ V||||or ( Prev|ous Year ` 1.59 V||||or)
N0TE 13 N0N 6uPPENT |NVE$THENT$
Part|cu|ars A$ AT 31st
Harch 2012
A$ AT 31st
Harch 2011
` |n H||||on ` |n H||||on
Trade |nvestments
|nvestment |n Equ|ty |nstruments : unquoted at 6ost
S|e|| VRPL Av|al|or Fue|s ard Serv|ces Pvl. Lld.(1,50,00,000 Equ|ly S|ares ol ` 10 eac| lu||y pa|d (Prev|ous year ` 10 eac|))
(Reler |ole a)
150.00 150.00
0|0C Varga|ore Pelroc|er|ca|s Lld.(1,500 Equ|ly S|ares ol ` 10 eac| lu||y pa|d (Prev|ous year ` 10 eac|)) (Reler |ole o) 0.02 0.02
Tota| 150.02 150.02
|oles
a S|e|| VRPL Av|al|or Fue|s ard Serv|ces Pvl. Lld. Jo|rl Verlure
o 0|0C Varga|ore Pelroc|er|ca|s Lld. Assoc|ale
N0TE 14 L0N0 TEPH L0AN$ AN0 A0VAN6E$
[unsecured and 6ons|dered good un|ess and otherW|se stated)
Part|cu|ars A$ AT 31st Harch 2012 A$ AT 31st Harch 2011
` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on
14.1 To re|ated Party
Advarce loWards Equ|ly s|are o00.98 o00.98
14.2 0thers
Cap|la| Advarce o,/55.03 14,839.4o
Advarce loWards Equ|ly s|are
Erp|oyee Advarce
Secured, cors|dered good (Reler |ole a) 119.21 112.o9
Secured, cors|dered 0ouollu|| (Reler |ole a) 0.81 0.81
Less: Prov|s|or lor douollu| |oars ard advarces 0.81 119.21 0.81 112.o9
0epos|ls W|l| Cuslor, Porl elc 0.01 0.01
0epos|l W|l| 0l|ers
ursecured, cors|dered good 55.28 59.92
ursecured, cors|dered douollu|| 4.35 4.35
Less: Prov|s|or lor douollu| |oars ard advarces 4.35 55.28 4.35 59.92
Tota| I,530.51 15,ê13.0ê
25
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
|oles
a Represerls secured |oars |av|rg repayrerl sc|edu|e ol rore l|ar / years
Erp|oyee Advarce slaled aoove |rc|udes : A$ AT 31st Harch
2012
` |n H||||on
A$ AT 31st Harch
2011
` |n H||||on
0|reclors 1.23 -
Tota| 1.23 -
N0TE 15 0ThEP N0N 6uPPENT A$$ET$
Part|cu|ars A$ AT 31st
Harch 2012
A$ AT 31st
Harch 2011
` |n H||||on ` |n H||||on
Accrued lnterest 0n EmpIcyees Lcan scheme 21.40 13.04
TctaI 21.40 13.04
N0TE 1ê 6uPPENT |NVE$THENT$
Non Trade
|nvestment |n government secur|t|es : unquoted at cost
Iº 00| 0|| ßonds,2012 2/2./8 2/2./8
(2/,2/8 oords ol ` 10,000 eac| lu||y pa|d (Prev|ous year ` 10,000 eac|))
Tota| 2I2.I8 2I2.I8
Note 1I |NVENT0P|E$
Part|cu|ars A$ AT 31st Harch 2012 A$ AT 31st Harch 2011
` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on
RaW Valer|a|s 19,430.50 /,382.23
RaW Valer|a| |r lrars|l 35,1/9.34 54,o09.84 12,035.34 19,41/.5/
wor|-|r-progress 1,9o1.45 2,414./9
F|r|s|ed goods 19,92/.90 1/,9/2.51
Less : Prov|s|or lor Sloc| Loss 5.91 19,921.99 o.98 1/,9o5.53
Slores ard spares 1,o38.8/ 1,218.08
Slores ard spares |r lrars|l 129.09 43.9/
Less : Prov|s|or lor S|oW/|or Vov|rg lrverlor|es 85.48 1,o82.48 8o.10 1,1/5.95
Tota| I8,1I5.Iê 40,9I3.84
N0TE 18 TPA0E PE6E|VAßLE$
Trade Pece|vab|es [unsecured) A$ AT 31st
Harch 2012
A$ AT 31st
Harch 2011
` |n H||||on ` |n H||||on
0ue lor a per|od |ess l|ar s|x rorl|s
Cors|dered good 32,205.o0 23,o45.5/
Cors|dered douollu| 12.o2 20.43
Less: Prov|s|or lor douollu| deols 12.o2 20.43
32,205.o0 23,o45.5/
0ue lor a per|od exceed|rg s|x rorl|s
Cors|dered good 2,38/.0o 1,o55.23
Cors|dered douollu| o1/.33 o40.22
Less: Prov|s|or lor douollu| deols o1/.33 o40.22
2,38/.0o 1,o55.23
Tota| [Pefer note a) 34,592.êê 25,300.80
2o
Annua| Peport 2011-12
A$ AT 31st
Harch 2012
A$ AT 31st
Harch 2011
|oles ` |n H||||on ` |n H||||on
a Aoove |rc|udes ` /80.00 V||||or (Prev|ous year ` 420.92 V||||or) oac|ed oy 6ar| 0uararlee.
Trade Rece|vao|e slaled aoove |rc|ude deols due oy:
Pr|vale Corpary |r W||c| 0|reclor ol l|e corpary |s a 0|reclor 40/./3 283.12
40/./3 283.12
N0TE 19 6A$h AN0 ßANK ßALAN6E$
Part|cu|ars A$ AT 31st Harch 2012 A$ AT 31st Harch 2011
` |n H||||on ` |n H||||on ` |n H||||on ` |n H||||on
19.1 6ash & 6ash Equ|va|ents
ßa|ances w|th ßanks
Currerl Accourls 9.89 2.45
0epos|l Accourls : uplo 3 Vorl|s Valur|ly 1o,4o9.42 1o,4/9.31 4,1/0.00 4,1/2.45
Cas| or lard |rc|ud|rg lrpresl (Reler |ole a) 0./8 0.20
lrveslrerl |r uTl Vulua| Furds - 525.45
19.2 0ther ßank ba|ances
0epos|l Accourls : oeyord 3 lo 12 rorl|s ralur|ly 5,o90.00 12,000.00
urpa|d lrleresl or deoerlures Accourl 0.19 0.19
urpa|d 0|v|derd Accourl 155./9 12/./4
Erp|oyee 6erevo|erl Furd 4.8/ 4.24
0epos|l W|l| 6ar|s as secur|ly depos|l ard as secur|ly aga|rsl l|e
oorroW|rg
1o.22 5,8o/.0/ /,84o.21 19,9/8.38
22,34I.1ê 24,êIê.48
|oles
lrc|udes 0o|d Co|rs va|ued ` 0.0o V||||or (Prev|ous year ` 0.01 V||||or)
N0TE 20 $h0PT TEPH L0AN$ AN0 A0VAN6E$
[unsecured and 6ons|dered good un|ess and otherW|se stated)
Part|cu|ars A$ AT
31.03.2012
` |n H||||on
A$ AT
31.03.2011
` |n H||||on
20.1 To re|ated party
0l|er Advarces 25.0o -
20.2 To others
6a|arce W|l| Cuslor, Porl, Trusl elc. 3,0o3.05 3,/10.o4
Secur|ly 0epos|ls W|l| Cuslorer /.52 /.52
Advarce lo Erp|oyees o4.3/ 30.04
0l|er 0epos|ls 2,o01.20 2,834.42
Tota| 5,Iê1.20 ê,582.ê2
Advarce lo Erp|oyees slaled aoove |rc|udes :
0l|er oll|cers ol l|e Corpary 0.43 0.4/
Tota| 0.43 0.4I
N0TE 21 0ThEP 6uPPENT A$$ET$
0l|er currerl assels
lrleresl Accrued oul rol due or F|xed 0epos|ls 218.32 2I1.39
C|a|r Rece|vao|e lror lrsurarce Corpary 0.02 ê3.2ê
lrcore Tax Pa|d urder 0|spules 1,000.92 244.51
Tota| 1,219.2ê 5I9.1ê
2/
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
N0TE 22 PEVENuE FP0H 0PEPAT|0N$ ` |n H||||on
Part|cu|ars For the year
ended
31.03.2012
For l|e year
erded
31.03.2011
22.1 $a|e of products 5I2,0êI.55 43I,23ê.5ê
22.2 0ther operat|ng revenues
Sa|e 0l Scrap 21.43 33.o0
lrcore Fror Rela|| 0ul|el 0.o/ 2.21
0epulal|or Serv|ces lo ol|er Corpary - o.8/
Terder lorr Sa|e 0./9 0.91
L|qu|daled 0arages 38.2/ 9./0
Taxao|e Serv|ces 8.1/ 14./2
Tota| ê9.33 ê8.01
Tota| 5I2,13ê.88 43I,304.5I
N0TE 23 0ThEP |N60HE
23.1 |nterest |ncome
0r 6ar| 0epos|l (Tax 0educled al Source ` 2/4.25 V||||or (Prev|ous Year ` 219.2o V||||or) 2,58o.34 1,293.89
0r lrler Corporale 0epos|l (Tax 0educled al Source ` 18.40 V||||or (Prev|ous Year |||) 184.03 -
0r |VPT Loar (Tax 0educled al source ||| (Prev|ous Year ` 0.o/ V||||or) - o.o8
Fror 0|recl Var|el|rg Cuslorer 4/./8 24.84
0r Corlraclor Voo|||sal|or Advarce /1.8/ 1o1.o9
0r Erp|oyees Loar Sc|ere 11.94 8.40
0r 0|| 6ords 19.09 19.09
0r 0l|ers 0./5 0.08
Tota| 2,921.80 1,514.êI
23.2 0|v|dend |ncome
0|v|derd rece|ved or uTl lrveslrerls 319.4ê 334.01
23.3 0ther non-operat|ng |ncome
L|ao|||ly ro |orger requ|red Wr|ller oac| 28.10 //.51
Excess Prov|s|ors Wr|ller oac| 33.00 123.85
Recover|es lror Erp|oyee 4.32 3.4/
lrsurarce C|a|r 88.4o -
V|sce||areous Rece|pls /8.o2 50.32
Tota| 232.50 255.15
Tota| 3,4I3.Iê 2,103.83
N0TE 24 |N6PEA$E [-) | 0E6PEA$E |N $T06K
24.1 6|os|ng $tock of:
F|r|s|ed 0oods 19,92/.90 1/,9/2.51
lrlerred|ale Sloc| 1,9o1.45 2,414./9
Tota| 6|os|ng $tock 21,889.35 20,38I.30
24.2 0pen|ng $tock of:
F|r|s|ed 0oods 1/,9/2.51 11,143.o/
lrlerred|ale Sloc| 2,414./9 1,090.92
Tota| 0pen|ng $tock 20,38I.30 12,234.59
|ncrease [-) | 0ecrease |n $tock -1,502.05 -8,152.I1
N0TE 25 EHPL0YEE ßENEF|T EXPEN$E$
Sa|ar|es ard wages 1,234.90 1,450.o/
Corlr|oul|or lo Prov|derl ard 0l|er Furds 149.99 1o/.35
Slall we|lare Experses /o.81 o8.28
Prov|s|or lor Leave /o.44 8/.21
Prov|s|or lor 0ralu|ly 32.o5 /1.2o
Prov|s|or lor Posl - Rel|rererl, Ved|ca| ard ol|er |org lerr oerel|ls 35.o3 0.58
Tota| 1,o0o.42 1,845.35
28
Annua| Peport 2011-12
Part|cu|ars For the year
ended
31.03.2012
For l|e year
erded
31.03.2011
N0TE 2ê F|NAN6E 60$T
|nterest expense 1,332.2o 1,039.1o
0ther borroW|ng costs 5o1.10 /.38
Net[0a|n)| Loss on Fore|gn 6urrency transact|ons and trans|at|on
Exc|arge (ga|r)/ |oss (rel) 1/3.41 -
Tota| 2,0êê.II 1,04ê.54
N0TE 2I 0EPPE6|AT|0N AN0 AH0PT|$AT|0N EXPEN$E
0r Targ|o|e Assels 4,309.03 3,8o0.5o
0r lrlarg|o|e Assels 29./0 53.o3
Tota| 4,338.I3 3,914.19
N0TE 28 0ThEP EXPEN$E$
Part|cu|ars For the Year ended 31.03.2012 For the Year ended 31.03.2011
` |n H||||on ` |n H||||on
28.1 0ther Expenses
PoWer & Fue| 2/,/o9.09 20,34o.93
Less : 0Wr Corsurpl|or 2/,o49.3/ 119./2 20,22o./2 120.21
Repa|rs ard Va|rlerarce
P|arl ard Vac||rery /90.49 /28.53
6u||d|rg 34.o3 9.3/
0l|ers 1/3.91 999.03 121.8/ 859.//
Slores, Spares ard C|er|ca| Corsured 950.11 /3/.39
Less : S|oWr urder 0l|er leads 413.19 53o.92 290.33 44/.0o
Pac||rg Valer|a| Corsured 91.3/ 85.o0
Rerl 5/.8o o2./1
lrsurarce 91.59 /5.31
Rales ard Taxes 523./5 o10.42
Exc|se 0uly or Sloc| (|el) -o0o.1o -118.0o
Exc|arge Rale F|uclual|or Loss o,482.20 -184.48
0|reclor's S|ll|rg Fees 0.80 0.8o
Loss or Sa|e ol F|xed Assels 11.3/ /.34
V|sce||areous Experses /o5.1/ o85./o
Tota| 9,0/3.o2 2,o52.50
28.2 Prov|s|on and wr|te 0ffs
For 0ouollu| 0eols - 10o.53
For S|oW/|or Vov|rg lrverlory 1.o8 0.39
Tota| 1.o8 10o.92
28.3 Pr|or Per|od |tems [Net)
0eprec|al|or(|el) 55.0/ 1o.11
Repa|rs ard Va|rlerarce o./5 -
Rerl - 0.34
Sa|ary & wages 0.8o -32.49
V|sce||areous Experses -1.o5 -1.48
Sa|es 2.0o 13.28
0l|ers -41.2/ -0.00
Tota| 21.82 -4.24
29
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
Part|cu|ars For the Year ended 31.03.2012 For the Year ended 31.03.2011
` |n H||||on ` |n H||||on
0rand Tota| [28.1+28.2+28.3) 9,09/.12 2,/55.18
N0TE 29 EAPN|N0$ PEP E0u|TY $hAPE
Part|cu|ars For the Year
ended 31.03.2012
For the Year
ended 31.03.2011
Numerator : Net Prof|t [` |n H||||on)
6as|c 9,085./8 11,/oo.33
0||uled 9,085./8 11,/oo.33
0enom|nator : Average number of Equ|ty $hares outstand|ng dur|ng the year
6as|c 1,/52,598,/// 1,/52,598,///
0||uled 1,83/,898,o33 1,895,408,012
Nom|na| va|ue Per $hare
Earn|ngs Per $hare [|n ` )
6as|c (`) 5.18 o./1
0||uled (`) 4.94 o.21
Peconc|||at|on of ßas|c and 0||uted Earn|ng Per $hare
|el Prol|l ( ` |r V||||or) 9,085./8 11,/oo.33
Add : lrleresl or d||uled porl|or ol |oars (|el ol Tax) ( ` |r V||||or) - -
Tota| 9,085.I8 11,Iêê.33
Average |o ol Equ|ly S|ares 1,/52,598,/// 1,/52,598,///
|uroer ol S|are |r respecl ol |oars |av|rg corvers|or c|ause 85,299,85o 142,809,235
Average |o ol Equ|ly S|ares lor 0||uled Earr|rgs per s|are 1,83/,898,o33 1,895,408,012
Note 30 0ther 0|sc|osures
30.01 Account|ng for Pesearch & 0eve|opment [A$-8)
T|e corpary dur|rg l|e year |as carr|ed oul acl|v|l|es re|al|rg lo sludy
ol Crude Assay, 0rgar|c C||or|de ard PV6 Tesl|rg, lCP-VS ara|ys|s,
lor-C|rorolograp|y as a parl ol |ls R & 0 acl|v|l|es ard |as |rcurred
experd|lure as rerl|ored oe|oW.
[` |n H||||on)
Part|cu|ars Pevenue
Expend|ture
6ap|ta|
Expend|ture
Tota|
R & 0 Experd|lure 2.91 11.25 14.1o
(1.11) (|||) (1.11)
|ole: F|gures |r orac|els represerl prev|ous year l|gure.
30.02 Effects of changes |n Fore|gn Exchange Pates [A$ 11)
Pursuarl lo |ol|l|cal|or ro. 0.S.R.(914)E daled 29l| 0eceroer 2011,
|ssued oy VCA, lror l|e currerl l|rarc|a| year, l|e Corpary |as opled
lo adjusl exc|arge d|llererces ar|s|rg or reporl|rg ol |org lerr lore|gr
currercy rorelary |lers, |r so lar as l|ey re|ale lo l|e acqu|s|l|or ol
deprec|ao|e assels, aga|rsl l|e cosl ol suc| assels ard deprec|ale l|e
sa|d adjuslrerl over l|e oa|arce ||le ol l|e assel. lad l|e opl|or rol
oeer exerc|sed, l|e d|llererce arourl|rg lo ` 2o.14 r||||or or |org lerr
lore|gr currercy rorelary |lers re|al|rg lo deprec|ao|e assels Wou|d
|ave oeer c|arged lo Prol|l ard Loss Accourl ard Cap|la| wor| |r
Progress Wou|d |ave oeer |esser lo l|al exlerl.
30.03 Emp|oyee ßenef|ts [A$-15)
30.03.01 ßr|ef 0escr|pt|on: A genera| descr|pt|on on the type of 0ef|ned
ßenef|t P|ans are as fo||oWs:
a Earned Leave ßenef|t [EL):
Accrua|?32daysperyear
Accuru|al|or up lo 300 days a||oWed
EL accuru|aled |r excess ol 15 days |s a||oWed lor ercas|rerl W|||e |r
serv|ce prov|ded l|e EL ercas|ed |s rol |ess l|ar 5 days.
b $|ck Leave [$L):
Accrua|?10daysperyear
Ercas|rerl W|||e |r serv|ce |s rol a||oWed
Ercas|rerl or rel|rererl |s perr|lled ard erl|re accuru|al|or |s
a||oWed lor ercas|rerl
c 0ratu|ty:
15 days sa|ary lor every corp|eled year ol serv|ce. Vesl|rg per|od |s 5
years ard l|e payrerl |s reslr|cled lo ` 1 r||||or.
d Long $erv|ce Emb|em:
0r corp|el|or ol eac| r||eslore ol serv|ce lror l|e dale ol jo|r|rg
ard a|so al l|e l|re ol rel|rererl, erp|oyees W||| oe g|lled W|l| 0o|d
Co|r, We|g|l deperds or l|e r||eslore ol serv|ce corp|eled.
30
Annua| Peport 2011-12
e Post Pet|rement Hed|ca| ßenef|ts:
Aller rel|rererl, or payrerl ol ore l|re |urp sur corlr|oul|or,l|e
superarualed erp|oyee ard ||s/|er deperderl spouse ard
deperderl parerls W||| oe covered lor red|ca| oerel|l as per l|e
ru|es ol l|e Corpary.
f Pet|rement ßenef|ts:
Al l|e l|re ol superarrual|or, erp|oyees are erl|l|ed lor
re|roursererl ol experses loWards lrave|, lrarsporlal|or ol persora|
ellecls lror l|e|r p|ace ol rel|rererl lo l|e reW |ocal|or uplo cerla|r
||r|ls deperd|rg or l|e des|gral|or ol l|e erp|oyee al l|e l|re ol
rel|rererlardorerorl|'ssa|aryassell||rga||oWarce.
30.03.02 The fo||oW|ng contr|but|ons to 0ef|ned 6ontr|but|ons P|ans are
treated as expenses dur|ng the year:
[` |n H||||on)
0ef|ned 6ontr|but|on
P|an
Expenses
recogn|sed
dur|ng 2011-12
6ontr|but|on to
Key Hanagement
Personne|
Erp|oyer'scorlr|oul|orlo
Prov|derl Furd
92.99
(120.5/)
[45.24|
0.4/
(0.33)
[0.21|
Erp|oyer'scorlr|oul|orlo
Superarrual|or Furd
55.0/
(44.o8)
[3/.43|
0.59
(0.41)
[0.2/|
30.03.03 The amount recogn|sed |n the ßa|ance $heet for next Emp|oyment
ßenef|t P|ans are as fo||oW:
[` |n H||||on)
$|
No.
Part|cu|ars 0ratu|ty
[Funded)
Post
Pet|rement
Hed|ca| ßenef|t
[unfunded)
0ther
Pet|rement
ßenef|ts
[unfunded)
1 Preserl va|ue ol
Furded 0o||gal|or
294.21
(254.34)
[1/5.15|
- -
2 Fa|r Va|ue ol P|ar
Assel
2o1.55
(183.09)
[144.3o|
- -
3 Preserl Va|ue
ol urlurded
0o||gal|or
- 35.o0
(1o./4)
[1o./4|
o.o1
(o.04)
[o.28|
4 urrecogr|sed Pasl
Serv|ce Cosl
- - -
5 |el L|ao|||ly 32.oo
(/1.25)
[30./9|
35.o0
(1o./4)
[1o./4|
o.o1
(o.04)
[o.28|
30.03.04 The amount |nc|uded |n the fa|r va|ue of p|an assets of gratu|ty
fund are as fo||oWs:
0ef|ned 6ontr|but|on P|an 2011-12 2010-11 2009-10
Reporl|rg Erlerpr|se's oWr l|rarc|a|
|rslrurerls
||| (|||) [||||
Ary Properly occup|ed oy, or ol|er
assels used oy l|e reporl|rg erlerpr|se
||| (|||) [||||
30.03.05 Peconc|||at|on shoW|ng the movements dur|ng the per|od |n the
net ||ab|||ty recogn|sed |n the ba|ance sheet:
[` |n H||||on)
$|.
No.
Part|cu|ars 0ratu|ty
[Funded)
Post
Pet|rement
Hed|ca|
ßenef|ts
0ther
Pet|rement
ßenef|ts
1 0per|rg del|red
oerel|l oo||gal|or
254.34
(1/5.15)
[135.2/|
1o./4
(1o./4)
[8.08|
o.04
(o.28)
[5.o4|
2 Serv|ce Cosl 20.81
(15.25)
[12.55|
18.3o
(1.01)
[0.4o|
0.19
(0.1/)
[0.13|
3 lrleresl Cosl 20.98
(14.93)
[11.41|
1.38
(1.35)
[0.o4|
0.50
(0.4o)
[0.44|
4 Acluar|a| Losses /
(0a|rs)
8.89
(5o.o3)
[1o.94|
-0.o5
(-0./2)
[8.13|
0.14
(0.4o)
[0.21|
5 L|ao|||ly lrarsler |r 0.3o
|||
[0.12|
- -
o 6erel|ls pa|d -11.18
(-/.o2)
[-1.14|
-0.23
(-1.o4)
[-0.58|
-0.2o
(-1.33)
[-0.14|
/ C|os|rg del|red
oerel|l oo||gal|or
294.21
(254.34)
[1/5.15|
35.o0
(1o./4)
[1o./4|
o.o1
(o.04)
[o.28|
30.03.0ê The tota| expenses recogn|sed |n the statement of prof|t and |oss
are as fo||oWs:
[` |n H||||on)
$|
No.
Part|cu|ars 0ratu|ty
[Funded)
Post
Pet|rement
Hed|ca|
ßenef|ts
0ther
Pet|rement
ßenef|ts
1 Currerl Serv|ce
Cosl
20.81
(15.25)
[12.55|
1.13
(1.01)
[0.4o|
0.20
(0.1/)
[0.13|
2 lrleresl or
oo||gal|or
20.98
(14.93)
[11.41|
1.38
(1.35)
[0.o4|
0.50
(0.4o)
[0.44|
3 Expecled relurr or
p|ar assels
-1o.48
(-15.42)
[-10./8|
- -
4 |el acluar|a|
|osses / (ga|rs)
recogr|sed |r l|e
year
4.82
(5o.50)
[1/.o1|
-0.o4
(-0./2)
[8.13|
0.14
(0.4o)
[0.21|
5 Pasl Serv|ce Cosl -
(-)
[-|
1/.22
(-)
[-|
-
(-)
[-|
o Losses / (0a|rs)
or curla||rerls
ard sell|ererls
- - -
/ Tola| |rc|uded |r
'erp|oyeeoerel|l
experses'.
30.13
(/1.2o)
[30./9|
19.09
(1.o4)
[9.23|
0.84
(1.09)
[0./8|
8 Aclua| relurr or
p|ar assels
20.55
(15.5o)
[10.11|
- -
31
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
30.03.0I $tatement of Peconc|||at|on of ba|ance of Fa|r va|ue of P|an Assets
|n respect of 0ratu|ty :-
[` |n H||||on)
$|
No.
Part|cu|ars 31.03.2012 31.03.2011 31.03.2010
1 Fa|r Va|ue ol P|ar
Assels al l|e
oeg|rr|rg ol l|e
per|od
183.09 144.3o 81.5
2 Expecled relurr or
p|ar assels
1o.48 15.42 10./8
3 Corlr|oul|ors o8./4 30./9 53./o
4 Trarsler lror ol|er
Corpary
0.3o ||| 0.12
5 (Trarsler lo ol|er
Corpary)
||| ||| |||
o (6erel|l Pa|d) (11.18) (/.o2) (1.14)
/ Acluar|a| ga|rs/
(|osses) or P|ar
Assels
4.0/ 0.14 (0.o/)
8 Fa|r Va|ue ol P|ar
Assels al l|e erd ol
l|e per|od
2o1.55 183.09 144.3o
30.03.08 0ther d|sc|osures
[` |n H||||on)
0ratu|ty 31.03.2012 31.03.2011 31.03.2010 31.03.2009 31.03.2008
Preserl va|ue ol
Furded oo||gal|or
as al l|e erd ol l|e
per|od
294.21 254.34 1/5.15 140.25 /8.41
Fa|r va|ue ol p|ar
assels as al l|e erd
ol l|e per|od
2o1.55 183.09 144.3o 81.5 5o.2/
Surp|us/(0el|c|l) 32.oo /1.25 30./9 58./5 22.14
Exper|erce
Adjuslrerl or p|ar
||ao|||l|es |oss/(ga|rs)
24.33 o5.3/ 22.95 -4.o4 10.o4
Exper|erce
Adjuslrerl or p|ar
assels (|oss) /ga|rs
4.0/ 0.14 (0.o/) 0.98 0
Posl rel|rererl
Ved|ca| 6erel|ls
31.03.2012 31.03.2011 31.03.2010 31.03.2009 31.03.2008
Preserl va|ue ol
urlurded oo||gal|or
as al l|e erd ol l|e
per|od
35.o0 1o./4 1o./4 8.08 o./8
Exper|erce
Adjuslrerl or p|ar
||ao|||l|es (|oss)/ga|r
1.29 -0.28 8.o4 0.3o -0.44
0l|er Rel|rererl
6erel|ls
31.03.2012 31.03.2011 31.03.2010 31.03.2009 31.03.2008
Preserl va|ue ol
urlurded oo||gal|or
as al l|e erd ol l|e
per|od
o.o1 o.04 o.28 5.o4 5.15
Exper|erce
Adjuslrerl or p|ar
||ao|||l|es (|oss)/ga|r
0.28 0.5o 0./9 0.45 0.4o
30.03.09 Pr|nc|pa| actuar|a| assumpt|ons at the ba|ance sheet date
[expressed as We|ghted averages):
$|.
No.
Part|cu|ars 0ratu|ty
[Funded)
Post
Pet|rement
Hed|ca|
ßenef|ts
0ther
Pet|rement
ßenef|ts
1 0|scourl Rale 8./5º
(8.25º)
[8.00º|
8./5º
(8.25º)
[8.00º|
8./5º
(8.25º)
[8.00º|
2 Expecled relurr
or p|ar assels
prev|ous
9.00º - -
3 Expecled relurr or
p|ar assels Currerl
9.00º - -
4 Arrua| |rcrease |r
prer|ur ol red
c|a|r po||cy
- |A
(5.00º)
[5.00º|
-
5 Arrua| |rcrease |r
Sa|ary
5.00º
(5.00º)
[5.00º|
- 5.00º
(5.00º)
[5.00º|
30.03.10 0ratu|ty [Funded) 0ef|ned ßenef|t 0b||gat|on - 6ategory of P|an
Assets
[` |n H||||on)
$|.
No.
Part|cu|ars 2011-12 2010-11 2009-10
1 0overrrerl ol lrd|a
6ords
129.9o 88.18 o/.54
49.o9º 48.1/º 4o./9º
2 Corporale 6ords 120.83 88.48 /3.08
4o.20º 48.32º 50.o2º
3 0l|ers 10./o o.43 3./4
4.11º 3.51º 2.59º
Tola| 2o1.55
100.00º
183.09
100.00º
144.3o
100.00º
30.03.11 $ens|t|v|ty of Post Pet|rement Hed|ca| Expenses
[` |n H||||on)
$|.
No.
Part|cu|ars 2011-12 2010-11 2009-10
1 C|arge |r L|ao|||ly
lor 1º |rcrease |r
d|scourl rale
-1./1 -0.80 -0.80
2 C|arge |r L|ao|||ly
lor 1º decrease |r
d|scourl rale
1.94 0.91 0.91
3 C|arge |r Serv|ce
Cosl lor 1º |rcrease |r
d|scourl rale
-0.0o -0.0o -0.0o
4 C|arge |r Serv|ce Cosl
lor 1º decrease |r
d|scourl rale
0.12 0.12 0.12
|ole: F|gures |r parerl|es|s ( ) represerls l|gure ol 2010-11 ard [ |
represerls l|gures ol 2009-10
32
Annua| Peport 2011-12
30.04 ßorroW|ng 6osts [A$-1ê)
Arourl ol oorroW|rg cosls cap|la||sed dur|rg l|e year ` 889.5o r||||or
( Prev|ous year |||)
30.05 $egment Peport|ng [A$ 1I)
T|e Corpary |s ergaged |r l|e ous|ress ol rel|r|rg crude o||, a||
acl|v|l|es ol l|e Corpary revo|ve arourd l||s ous|ress ard l|e
operal|ors are |r lrd|a. As suc| l|ere |s ro ol|er reporlao|e segrerl
asdel|redoyl|eAccourl|rgSlardard1/?SegrerlReporl|rg|ssued
urder T|e Corpar|es (Accourl|rg Slardards ) Ru|es, 200o. T|e
c|ar|l|cal|or soug|l lor oy l|e Corpary or l|e EAC op|r|or |s urder
cors|deral|or oy lCAl ard |erce segrerl reporl|rg |s rol rade.
30.0ê Pe|ated Party 0|sc|osure [A$-18)
30.0ê.01 T|e Corpary |s a slale corlro||ed erlerpr|se ard l|e lrarsacl|ors W|l|
ol|er slale corlro||ed erlerpr|ses are rol requ|red lo oe d|sc|osed as
per AS-18.
30.0ê.02 Key Hanagement Personne|:
(|) S|r|. u.K.6asu, Varag|rg 0|reclor
(||) S|r| P.P.upad|ya, 0|reclor (Tec|r|ca|)
(|||) S|r| V|s|ru AgraWa|, 0|reclor (F|rarce)
30.0ê.03 Pe|ated Party deta||s:
[` |n H||||on)
Part|cu|ars 0N06
Hanga|ore
Petrochem|ca|s
L|m|ted
$he|| HPPL
Av|at|on Fue|s
& $erv|ces
Pvt. L|m|ted
Hanga|am
Peta||
$erv|ces
L|m|ted
Hanga|ore
$EZ
L|m|ted
Petronet
Hhß
L|m|ted
Re|al|ors||p Assoc|ale Jo|rl Verlure Jo|rl
Verlure
Assoc|ale Assoc|ale
Sa|e ol Producls |||
(|||)
4,o4/.31
(245/.04)
|||
(|||)
|||
(|||)
|||
(|||)
Trarsporlal|or c|arges
payao|e
|||
(|||)
|||
(|||)
|||
(|||)
|||
(|||)
-3/.9o
(124.34)
Re|roursererl ol
experd|lure oy VRPL
|||
(/9.50)
|||
(|||)
|||
(|||)
-2.38
(1o1.o8)
|||
(|||)
Sa|ary ard ol|er
eslao||s|rerl re|aled
experses |rcurred oy
VRPL re|roursao|e oy JV/
Assoc|ale.
18.40
(3o.50)
0./8
(1.44)
|||
(|||)
3.82
(9.54)
24.08
(188.35)
Advarce aga|rsl Equ|ly
|rveslrerl |r JV /
Assoc|ales
599.99
(599.99)
|||
(|||)
1.00
(1.00)
|||
(|||)
|||
(|||)
Arourl rece|vao|e as or
31sl Varc| 2012.
25.0o
(|||)
408.4/
(2/2.13)
|||
(|||)
844.23
(/12.42)
|||
(|||)
Arourl payao|e as or 31sl
Varc|, 2012.
|||
(2/.42)
|||
(|||)
|||
(|||)
|||
(|||)
8.55
(83.09)
|ole : F|gures |r orac|els represerl prev|ous year l|gure.
30.0I Leases [A$-19)
30.0I.01 T|e corpary |as la|er var|ous prer|ses urder carce||ao|e operal|rg
|ease.
30.0I.02 T|ese |ease agreererls are rorra||y rereWed or exp|ry ol l|e lerr.
30.0I.03 Lease rerla| experses lor l|e year erded 31
sl
Varc|, 2012 |r respecl
ol aoove operal|rg |eases are ` 34./5 V||||or (pre. year ` 44.22 V||||or)
30.08 Account|ng for taxes on |ncome[A$-22)
30.08.01 T|e corpary |as correrced correrc|a| rel|r|rg ol crude o|| lror
|ls P|ase lll rel|rery dur|rg l|e year ard accord|rg|y |s erl|l|ed lo l|e
deducl|or u/s 80 l6 ol l|e lrcore Tax Acl,19o1.
30.09 F|nanc|a| Peport|ng of |nterests |n Jo|nt Ventures [A$-2I)
[` |n H||||on)
Part|cu|ars $he|| HPPL Av|at|on Fue|
$erv|ces Pvt. L|m|ted
Hanga|am Peta||
$erv|ces L|m|ted
Proporl|or ol l|e oWrers||p
|rleresl
50º 45º
Courlry ol |rcorporal|or lrd|a lrd|a
Aggregate amount of |nterest |n
Jo|ntVenture[HPPL'sshare)
2011-12
[Aud|ted)
2010-11
[Aud|ted)
2011-12 * un
aud|ted $ee
Note be|oW
2010-11
[Aud|ted)
Assels 8o4.98 1,05/.99 0.91 0.91
L|ao|||l|es o12.15 852.95 0.01 0.01
lrcore 2o35.55 1455.59 - |||
Experd|lure |rc|ud|rg Tax
Experses
2,5/0.33 1,400.85 - 0.01
Corl|rgerl L|ao|||l|es ||| ||| - |||
Cap|la| Corr|lrerls ||| ||| - |||
¯ T|ere |s ro lrarsacl|or |r l||s corpary dur|rg l|e year 2011-12
30.10 Prov|s|ons, 6ont|ngent L|ab|||t|es and 6ont|ngent Assets [A$ -29)
30.10.01 Hovement |n Prov|s|ons
[` |n H||||on)
Year 2011-12 2010-11
Part|cu|ars 0ebtors 0thers 0ebtors 0thers
0per|rg 6a|arce oo0.o5 98.25 o0/.50 9/.85
Add : Prov|s|or rade
dur|rg l|e year
- 1.o8 10o.53 0.40
Less: Prov|s|or Wr|ller
oac| / rec|ass|l|ed /
reducl|or dur|rg year
30./0 3.38 53.38 -
C|os|rg 6a|arce o29.95 9o.55 oo0.o5 98.25
30.11 Prov|s|ons, 6ont|ngent
L|ab|||t|es and 6ont|ngent
Assets [A$ -29)
30.11.01 Emp|oyee ßenef|ts
[` |n H||||on)
Year 2011-12 2010-11
Part|cu|ars Leave 0ther
benef|ts
Leave 0ther
benef|ts
0per|rg 6a|arce 243.81 41.o8 180.38 42.20
Add : Prov|s|or rade
dur|rg l|e year
/o.44 3o.49 8/.20 0.59
Less: Prov|s|or Wr|ller
oac| / rec|ass|l|ed /
reducl|or dur|rg year
30.0o 2.05 23.// 1.11
C|os|rg 6a|arce 290.19 /o.12 243.81 41.o8
33
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
30.11.02 6ont|ngent L|ab|||t|es not prov|ded for |n respect of :
a Corporale 0uararlee g|ver oy l|e Corpary loWards |oar ol ` 3,3/2.30 V||||or
sarcl|ored oy cerla|r oar|ers / l|rarc|a| |rsl|lul|ors lo |eW Varga|ore Porl Trusl
(|VPT) lor corslrucl|or ol Jell|es. Arourl oulslard|rg as al l|e c|ose ol l|e year
erded 31
sl
Varc|, 2012, aller adjusl|rg l|e repayrerl rade oy |VPT |s ` |||
(Prev|ous Year ` |||).
b C|a|rs aga|rsl l|e Corpary rol ac|roW|edged as deol :
[` |n H||||on)
$r.
No.
Part|cu|ars As on
31.03.2012
As on
31.03.2011
1 C|a|rs ol Corlraclors / verdors |r Aro|lral|or
/ Courl
Sore ol l|e corlraclors lor supp|y ard |rsla||al|or
ol equ|prerl |ave |odged c|a|rs or l|e corpary
see||rg rev|s|or ol l|re ol corp|el|or W|l|oul
||qu|daled darages, exlerded slay corpersal|or
ard exlra c|a|rs elc., W||c| are corlesled oy
l|e corpary as rol adr|ss|o|e |r lerrs ol l|e
prov|s|ors ol l|e respecl|ve corlracls. lr case ol
urlavourao|e aWards l|e arourl payao|e Wou|d
oe cap|la||sed ` 30o./3 r||||or / Re|roursao|e `
3/.o3r||||or[Prev|ousyear` 314./4 r||||or ard
`3/./3r||||orrespecl|ve|y|
344.3o 352.4/
2 C|a|rs / courler c|a|rs ol Cuslorers
(a) T|e corpary |ad gore |rlo ar |rlerral|ora|
aro|lral|or al Lordor aga|rsl ore ol |ls exporl
cuslorers. T|e aro|lral|or Tr|oura| |as d|sr|ssed
l|e corpary's c|a|rs re|al|rg lo l|roug|pul |oss
ard ror-lu|| l|||rerl ol corlraclua| oo||gal|ors ard
|asorderedl|ecorparylooearl|ecuslorer's
advocale cosl a|org W|l| relurd ol parl ol ad|oc
arourl pa|d oy l|e cuslorer a|org W|l| |rleresl.
T|e corpary |as prelerred ar appea| |r l|e
Vuroa| l|g| Courl aga|rsl l||s aro|lra| aWard. lr
case ol urlavourao|e aWard l|e arourl payao|e
Wou|d oe deo|led lo Prol|l & Loss Accourl.
18.85 1o.1/
(o) 0re ol l|e cuslorers |as |odged a c|a|r lor
darages lor pre-c|osure ol l|e corlracl. T|e
corpary |as d|spuled l|e c|a|r oas|s Force
Vajure cord|l|or. lr case ol ror acceplarce ol
l|e slard la|er oy l|e corpary l|e arourl W|||
oe deo|led lo l|e Prol|l & Loss accourl.
85.20 85.20
3 0l|ers
(a) T|e |eW Varga|ore Porl Trusl (|VPT) |as
c|a|red lror l|e corpary rol|l|ed W|arlage
c|arges lor |ard||rg cargo al o|| oerl|s. T|e
corpary |as c|a|red l|al Verorardur ol
urderslard|rg, or corp|el|or prov|des lor
rulua||y agreeao|e rale suojecl lo V|r|slry
ol S||pp|rg approva|. T|e |ssue |s oelore l|e
V|r|sler ol S||pp|rg. T|e d|llererl|a| arourl
oelWeer l|e rol|l|ed W|arlage rale ard l|e
W|arlage rale oe|rg pa|d oy l|e corpary, |l
ary, W||| oe deo|led / cred|led lo l|e Prol|l & Loss
Accourl |r l|e year ol suc| sell|ererl.
1,288.0/ o0o.42
(o) T||s represerls l|e polerl|a| ||ao|||ly W||c| l|e
corpary |as urderla|er loWards re|roursererl
lo |essors |r case ol ary ||ao|||ly |r l|e|r respecl|ve
lax assessrerls. lr case ol ary c|a|r oy |essors
l|e sare W||| oe deo|led lo Prol|l & Loss Accourl.
133.o/ 133.o/
(c) T|e c|a|r ol Varga|ore SEZ Lld. over ard aoove
l|e advarce pa|d lor |ard ard re|ao|||lal|or &
resell|ererl Wor|.
3/.43 -
Tota| 1,90I.58 1,193.93
lr respecl ol a|| l|ese c|a|rs, W||c| are oe|rg corlesled oy l|e corpary as rol adr|ss|o|e, |l
|s rol pracl|cao|e lo ra|e a rea||sl|c esl|rale ol l|e oull|oW ol resource, |l ary, lor sell|ererl ol
suc| c|a|r perd|rg reso|ul|or / aWard lror Aro|lralors / Courl.
30.11.03 0|sputed tax | 0uty demands pend|ng |n appea|:
a) lrcore Tax: ` 1123.40 V||||or (Prev|ous Year ` 3/3.90 V||||or).
(aga|rsl l||s ` 1000.92 V||||or |s adjusled / pa|d urder prolesl ard
|s |rc|uded urder |oars & advarces. |ole 21)
b) Correrc|a| Tax: ` 321.49 V||||or (Prev|ous Year ` 121/.84
V||||or) ? |rc|udes ` 321.49 V||||or (Prev|ous Year ` 524.8/
V||||or) re|al|rg lo projecls.
c) Exc|se 0uly: ` 488.10 V||||or (Prev|ous Year ` 3o0.2o V||||or).
(aga|rsl l||s ` 2/.01 V||||or |s pa|d urder prolesl ard |s |rc|uded
urder |oars & advarces |ole -20)
d) Cuslors 0uly: ` o4/.54 V||||or (prev|ous year ` 130.19 V||||or).
30.11.04 a) T|e esl|raled arourl ol corlracls rera|r|rg lo oe execuled
or cap|la| accourl ard rol prov|ded lor (rel ol advarces)
` 31,185.31 V||||or (Prev|ous Year ` 5/,52/./o V||||or).
b) 0l|er corr|lrerls
|) EC6 Loar lo oe ava||ed uS0 200 r||||or
||)0|0C Loar lo oe ava||ed ` 24000 r||||or
|||)Perd|rg corr|lrerl or accourl ol Rel|rery perlorrarce
|rprovererl prograrre oy V·s.S|e|| 0|ooa| lrlerral|ora|
So|ul|or
(V·s.S|e|| 0lS) uS0 0.50 V||||or uS0
30.12 Fore|gn Exchange exposures
30.12.01 Exposures not hedged by 0er|vat|ve |nstruments or otherW|se
[net):
[` |n H||||on)
Part|cu|ars. 2011-2012 2010-2011
Fore|gn
6urrency
Equ|va|ent
Pupees
Fore|gn
6urrency
Equ|va|ent
Pupees
lrporls uS0 2,4/o.18 12/,59/.5o 1,548.58 o9,902.90
Cred|lors uS0 0.03 1.55 0.01 0.32
Exporls uS0 200./9 10,222.22 211.43 9,351.55
Loars uS0 410.00 21,12/.30 ||| |||
30.12.02 Va|ue of |mports on 6|F bas|s:
[` |n H||||on)
Part|cu|ars 2011-2012 2010-2011
Cap|la| 0oods 139o.91 0./o
RaW raler|a|s 4/o,18o.50 30o,59o.89
Slores, Spares & C|er|ca|s 31o.25 o59.35
30.12.03 Expend|ture |n Fore|gn 6urrency: [` |n H||||on)
lrleresl /3.30 |||
0l|ers 85.85 105.34
30.12.04 Earn|ngs |n Fore|gn 6urrency [` |n H||||on)
Exporls (F06 Va|ue) 234,183.24 14o,024./1
0epulal|or ol Spec|a||sls ||| o.8/
34
Annua| Peport 2011-12
30.13 Aud|tor'sPemunerat|on:
As Aud|lor 1.50 1.50
For laxal|or Valers 0.38 0.38
For Corpary |aW Vallers 0.03 0.03
For Cerl|l|cal|or Fees 1.o0 0.85
For ol|er serv|ces 0.20 0.20
Re|roursererl ol Experses 1./1 1.o3
30.14 6onsumpt|on of PaW Hater|a|s, Trad|ng 0oods, $tores, $pares
and 6hem|ca|s
[` |n H||||on)
Part|cu|ars
2011-2012 2010-2011
Va|ue |n `
H||||on
[º) Va|ue |n `
H||||on
[º)
RaW Valer|a|:
Crude 0||
lrporled 444,149.4/ 8o.o9º 320,131.12 8o.01º
lrd|gerous o8,100.0/ 13.29º 51,9o4.o5 13.9oº
CRV6 Vod|l|er
Cosl
lrporled
lrd|gerous 11/.82 0.02º 9/.o0 0.03º
Tota| 512,3êI.35 100.00º 3I2,193.3I 100.00º
Slores, Spares
ard C|er|ca|s
(0ross)
lrporled 40/.0/ 42.84º 382.12 51.82º
lrd|gerous 543.04 5/.1oº 355.2/ 48.18º
Tota| 950.11 100.00º I3I.39 100.00º
30.15 The deta||s about Non-res|dent shareho|ders are as fo||oWs:
Part|cu|ars As on
31.03.12
As on
31.03.11
|uroer ol |or-res|derl s|are|o|ders 20,434 22,415
|o. ol s|ares |e|d oy |or-res|derl
s|are|o|ders
2o,44/,524 28,201,o/5
0|v|derd rer|lled lo |or-res|derl
s|are|o|ders dur|rg l|e year
` 42.42
V||||or
` 33.84
V||||or
30.1ê Loans and Advances :
Loars ard advarces (|ole 20) |rc|ude relurd c|a|rs lor Cuslor 0uly
or projecl |rporls ` 3/8./1.V||||or (Prev|ous year ` 3/8./1V||||or) ard
Correrc|a| Taxes ` 548.48 V||||or (prev|ous year ` 4/o.34 V||||or).
A lurl|er relurd due loWards Correrc|a| Taxes ` 2,884.43 V||||or |s
a|so |rc|uded l|ere|r lor W||c| l|ere |s a ralc||rg ||ao|||ly lo pay lo
cuslorers or rece|pl ol l|e relurd W||c| |s |rc|uded urder ol|er currerl
||ao|||l|es - ||ao|||ly lor slalulory payrerls( |ole 10).
30.1I 6ommerc|a| Tax |ncent|ves:
30.1I.01 The 6ompany, as per the 0overnment of Karnataka not|f|cat|on, |s
ent|t|ed to $a|es Tax deferment |oan as fo||oWs:
Pef|nery
Pro[ect
Amount [` |n H||||on) Ava||ment per|od
P|ase l (3
VVTPA)
400.00 per arrur 11 years lror l|e dale
ol |ssue ol rol|l|cal|or
v|z, 29l| Augusl 1998
P|ase ll (o
VVTPA)
2,500.00 per arrur * 14 years lror l|e dale
ol |ssue ol rol|l|cal|or
v|z., 14l| Augusl 2000
* Car a|so oe ava||ed as exerpl|or ol CST.
30.1I.02 T|e Sa|es lax delerrerl |oar s|oWr urder ursecured Loars (|ole-4
) |rc|udes a sur ol ` 290.1/ V||||or (Prev|ous Year ` 290.1/ V||||or)
re|al|rg lo CST or exc|se duly |rc|uded urder relurd lror Correrc|a|
Tax 0eparlrerl ( |ole 20) lor l|e years 2000-01ard 2001-02, W||c|
Were ear||er pa|d urder prolesl ard are roW oe|rg c|a|red as sa|es lax
delerrerl |oar oy l|e Corpary.
30.18 T|e Corpary |s yel lo rece|ve resporse lor |ls corl|rral|or |ellers
lror sore ol l|e lrade rece|vao|es , Loars ard Advarces ard lrade
payao|es. Recorc|||al|or ard adjuslrerl W||| oe ellecled or rece|pl
ol corl|rral|ors, W||c| |r l|e op|r|or ol l|e raragererl W||| rol oe
s|gr|l|carl.
30.19 Fo||oW|ng expenses are |nc|uded under other heads of expenses
lrsurarce c|arges arourl|rg lo ` 20.22 V||||or (Prev|ous year ` 1/.13
V||||or) re|al|rg lo crude purc|ase ard slall We|lare |as oeer c|arged
urder respecl|ve |eads.
30.20 0ues to H|cro, $ma|| & Hed|um enterpr|ses:
T|e c|ass|l|cal|or ol l|e supp||ers urder V|cro, Sra|| ard Ved|ur
Erlerpr|ses 0eve|oprerl Acl, 200o |s rade or l|e oas|s ol |rlorral|or
rade ava||ao|e lo l|e corpary. T|e Corpary |as re|l|er pa|d ary
|rleresl |r l|e lerrs Secl|or 1o ol l|e aoove sa|d Acl ror ary |rleresl
rera|r urpa|d ard ro payrerls Were rade oeyord l|e 'appo|rled
dale' lo suc| erlerpr|ses dur|rg l|e year erded 31.03.2012. Arourl
oulslard|rg lo l|ese erlerpr|ses lor l|e year erded 31
sl
Varc|, 2012 |s
` ||| (Prev|ous year: ` |||)
30.21 T|e l|rarc|a| slalererls lor l|e year erded Varc|, 31,2011 |ad
oeer prepared as per l|e l|er app||cao|e , pre Rev|sed S|edu|e Vl lo
l|e Corpar|es Acl,195o . Corsequerl lo l|e rol|l|cal|or ol Rev|sed
Sc|edu|e Vl urder l|e Corpar|es Acl,195o, l|e l|rarc|a| slalererls
lor l|e year erded Varc|,31,2012 are prepared as per Rev|sed
Sc|edu|e Vl. Accord|rg|y, l|e prev|ous year's l|gures |ave a|so oeer
rec|ass|l|ed lo corlorr lo l||s year's c|ass|l|cal|or. T|e adopl|or ol
Rev|sed Sc|edu|e Vl lor prev|ous year's l|gures does rol |rpacl
recogr|l|or ard reasurrerl pr|rc|p|es lo||oWed lor preparal|or ol
l|rarc|a| slalererls.
As per our report of even date attached For and on beha|f of the ßoard
For HAhAPAJ N.P.$uPE$h & 6o
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 001931S
For 00PALA|YEP AN0 $ußPAHAN|AN
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 0009o0S
$u0h|P VA$u0EVA
C|a|rrar
6A N P $uPE$h
Parlrer
Veroers||p |o. 021oo1
6A $. $uN0AP
Parlrer
Veroers||p |o. 202/25
u. K. ßA$u
Varag|rg 0|reclor
|eW 0e||| : 23
rd
Vay, 2012 0|NE$h H|$hPA
Corpary Secrelary
V|$hNu A0PAwAL
0|reclor (F|rarce)
35
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
Corporale 0overrarce |s oased or pr|rc|p|es ol corducl|rg ous|ress W|l| a|| |rlegr|ly ard la|rress, oe|rg lrarsparerl W|l| regard lo a|| lrarsacl|ors ra||rg a|| d|sc|osures,
corp|y|rg W|l| |aWs ol |ard, accourlao|||ly ard respors|o|||ly loWards l|e s|are|o|ders ard corr|lrerl lo corducl l|e ous|ress |r ar el||ca| rarrer.
we al VRPL are corr|lled lo good goverrarce pracl|ces l|al creale |org-lerr susla|rao|e va|ue lor |ls sla|e|o|ders. 0ur Corporale 0overrarce lrareWor| |s oased or l|e
lo||oW|rg pr|rc|p|es:
? Ersur|rgrax|rurd|sc|osureol|rlorral|orlol|e6oard/Corr|lleesoll|e6oardlorrear|rglu|ardlocusedd|scuss|ors|rreel|rgs;
? Corr|lledloalrarsparerlsyslerardva|ues;
? 0peral|rg|rasourdsyslerol|rlerra|corlro|W|l|al|ruslor|rlegr|lyardaccourlao|||ly;
? Ersur|rgl|re|yardadequaled|sc|osureola||raler|a||rlorral|orloa||Sla|e|o|ders;
? Ersur|rgcorp||arceolapp||cao|e|aWs,gu|de||res,ru|esardregu|al|ors;
? Corr|lledlorequ|lao|eardla|rlrealrerlloa|||lssla|e|o|dersardsoc|elyal|arge.
1) ß0AP0 0F 0|PE6T0P$:
A) 60HP0$|T|0N 0F 0|PE6T0P$ A$ 0N 31|03|2012
Execul|ve 0|reclors : 3
|or Execul|ve 0|reclors : o
lrc|ud|rg T|ree lrdeperderl 0|reclors)
(|) ß0AP0 0F 0|PE6T0P$ A$ 0N 31.03.2012
0|rector Execut|ve| Non-Execut|ve 6ategory No. of other 0|rectorsh|p No. of outs|de 6omm|ttees
Pub||c Pr|vate Hember 6ha|rman
S|r| Sud||r Vasudeva C|a|rrar |or-Execul|ve ProrolerCorpary's0|reclor / 1 - -
S|r| u.K. 6asu Execul|ve Varag|rg 0|reclor 2 1 - 1
S|r| P.P. upad|ya Execul|ve 0|reclor (Tec|r|ca|) 1 - 1 -
S|r| V|s|ru AgraWa| Execul|ve 0|reclor (F|rarce) 1 1 - -
S|r| V|ve| Kurar |or-Execul|ve 0overrrerl 0|reclor 1 - - 1
S|r| K. Vura|| |or-Execul|ve ProrolerCorpary's0|reclor 5 - - -
0r. A.K.Ral| |or-Execul|ve lrdeperderl 0|reclor 2 - 3 3
S|r|.6 Rav|rdraral| |or-Execul|ve lrdeperderl 0|reclor 3 - 1 -
0r. 0. C|ardrase||arar |or-Execul|ve lrdeperderl 0|reclor 3 1 - 1
ßP|EF PE$uHE 0F ß0AP0 0F 0|PE6T0P$ [0uAL|F|6AT|0N| EXPEPT|$E |N TEPH$ 0F 6LAu$E 49 [0) 0F ThE L|$T|N0 A0PEEHENT)
0|rector ßr|ef Pesume [0ua||f|cat|on| Expert|se) Name of the other 6ompan|es|F|rms Where
0|rectorsh|p he|d
S|r| Sud||r Vasudeva S|r| Sud||r Vasudeva |s a|so C|a|rrar & Varag|rg 0|reclor |r 0|0C. le |s a C|er|ca| Erg|reer ard a Varagererl
0raduale. le jo|red 0|0C as ar execul|ve lra|ree |r l|e l|rsl oalc|, 19/o, ard aller lopp|rg |r l|e oalc| |e Wor|ed ||s Way up,
W|l| rajor|ly ol ||s ass|grrerls |r olls|ore o|| l|e|d. KroWr across 0|0C lor ||s lear raragererl capao|||l|es, S|r| Sud||r
Vasudeva oelore la||rg over as a C & |0 Was 0|reclor olls|ore.
1. 0|| ard |alura| 0as Corporal|or L|r|led.
2. 0|0C V|des| L|r|led.
3. PaWar lars le||coplers L|r|led.
4. 0|0C Pelro- add|l|ors L|r|led.
5. Varga|ore SEZ L|r|led.
ê. 0|0C Tr|pura PoWer Corpary L|r|led.
I. Pelrorel L|0 L|r|led.
8. 0|0C Varga|ore Pelroc|er|ca|s L|r|led.
S|r| u.K. 6asu S|r| ullar Kurar 6asu, a C|er|ca| Erg|reer, carr|es W|l| ||r over 3 decades ol proless|ora| exper|erce |r Rel|rery 0peral|ors
&Varagererl|rlrd|a'sloreroslForlure0|ooa|2000||corpary-lrd|ar0||Corporal|orLld.
S|r| u K 6asu rade ||s rar| |r lrd|ar 0|| & |r l|e lrd|ar 0|| Rel|r|rg Seclor l|roug| ||s corlr|oul|or dur|rg 'corslrucl|or lo
corr|ss|or|rg' ol Val|ura Rel|rery's Capac|ly Augrerlal|or Projecl, ard l|al ol Par|pal Rel|rery. le a|so served |r var|ous
capac|l|es |r lrd|ar 0|| Rel|rery leadquarlers ard |r l|e rel|rer|es al Val|ura, la|d|a, 6araur|, Par|pal ard 0ujaral rarg|rg
lror l|e corpary's |argesl lo l|e rosl roderr.
1. S|e|| VRPL Av|al|or Fue| ard Serv|ces Pr|vale L|r|led.
2. 0|0C Varga|ore Pelroc|er|ca|s L|r|led.
3. Pelrorel Vl6 L|r|led.
S|r| P.P. upad|ya S|r| P.P.upad|ya |s a C|er|ca| Erg|reer ard |o|ds Vaslers |r Erg|reer|rg |r C|er|ca| P|arl 0es|gr.
S|r|P.P.upad|yaslarled||sproless|ora|career|rlrd|a'sloreroslForlure0|ooa|2000||Corpary?lrd|ar0||Corporal|or
L|r|led |r 19/8 ard served lor rear|y 15 years oelore |e jo|red Varga|ore Rel|rery ard Pelroc|er|ca|s L|r|led |r 1993 ard
p|ayed v|la| ro|e |r sleer|rg VRPL lo urprecederled |e|g|ls |r l|e rel|rery perlorrarce.
S|r| P.P.upad|ya carr|es W|l| ||r over 3 decades ol proless|ora| exper|erce |r Rel|rery 0peral|or ard Varagererl.
1. Pelrorel Vl6 L|r|led.
S|r| V|s|ru AgraWa| S|r| V|s|ru AgraWa| |s a le||oW reroer ol l|e lrsl|lule ol C|arlered Accourlarls ol lrd|a ard |as over 30 years ol lurcl|ora|
exper|erce |r F|rarce ard Accourls, Correrc|a|, lrlerral|ora| Trade, Treasury, Corporale F|rarce, Var|el|rg, Varagererl
lrlorral|orSyslers?Pr|rar||y|r0||Seclor(ool||rdoWrslrearardupslrearseclor).
le Was |rslrurerla| |r ac||ev|rg rary r||e-slores |r l0CL ard 0|0C. le |as gol cred|l lo ||s accourl |r corlr|oul|rg
deve|oprerl ol var|ous syslers ard procedures ard var|ous sysler sollWare lor upgraded corpuler|zal|or.
1. S|e|| VRPL Av|al|or Fue|s ard Serv|ces Pr|vale L|r|led.
2. Varga|ore SEZ L|r|led.
60PP0PATE 00VEPNAN6E PEP0PT F0P ThE YEAP 2011-2012
3o
Annua| Peport 2011-12
S|r| V|ve| Kurar S|r| V|ve| Kurar |s ar l.A.S 0ll|cer ard Jo|rl Secrelary (V0P & |0) ard |as over 1/ years exper|erce |r Puo||c Alla|rs |av|rg
|e|d d|llererl adr|r|slral|ve posls |r wesl 6erga|. le |as Wor|ed W|l| wesl 6erga| Rura| Erergy 0eve|oprerl Corporal|or
L|r|led as Execul|ve 0|reclor. le |as des|gred ard |rp|ererled |rroval|ve sc|eres lor poWer d|slr|oul|or |r l|e courlrys|de
as a parl ol PoWer Seclor relorrs |r l|e courlry.
1. 0|0C V|des| L|r|led
S|r| K. Vura|| S|r| K Vura|| |s 0|reclor (Rel|rer|es) lPCL. le |s a C|er|ca| Erg|reer |av|rg W|de exper|erce |r rel|rery operal|ors. 0ur|rg
||s |org career sparr|rg rore l|ar 30 years, |e |as |ard|ed var|ous cr|l|ca| pos|l|ors |rc|ud|rg as |ead ol ool| l|e rel|rer|es
ol lPCL al Vuroa| ard V|sa||apalrar.
1. l|rduslar Pelro|eur Corporal|or L|r|led.
2. lPCL - V|lla| Erergy L|r|led.
3. lPCL - 6|o Fue|s L|r|led.
4. Creda - lPCL 6|o Fue|s L|r|led.
5. Pr|ze Pelro|eur Corpary L|r|led.
0r. A.K.Ral| Preserl|y, 0r.A.K.Ral| |s C|a|rrar ard Prolessor ol Cerlre lor C0 & SR al lVl, |eW 0e|||. le Was ar lAS 0ll|cer |as pul |r
over 35 years ol serv|ce |r l|e 0overrrerl ol lrd|a. le |as served as a 0|reclor |r SAlL, Rl|L, |V0C, Kl0CL ard VEC0|
dur|rg ||s lerure as Add|l|ora| Secrelary ard F|rarc|a| Adv|sor |r l|e V|r|slry ol Slee|, Secrelary V|r|slry ol lR0 00l. le Was
l|earc||lecloll|e|ardrar|o|||¯R|g|lolC|||drerloFreeardCorpu|soryEducal|or6|||,2008¨.
1. Coa| lrd|a L|r|led.
2. Va|arad| Coa|l|e|d L|r|led.
S|r|.6 Rav|rdraral| S|r| 6. Rav|rdraral|, a Vec|ar|ca| Erg|reer, |s l|e ror|ree d|reclor ol l06l 6ar| Lld. (l06l), ore ol l|e sporsors ol Arc||. S|r|
6. Rav|rdraral| preserl|y |o|ds l|e pos|l|or ol Execul|ve 0|reclor ol l06l.
le jo|red l06l |r 1982 as lrduslr|a| F|rarce 0ll|cer. l|s s|gr|l|carl corlr|oul|or |r l|e Corporale F|rarce 0eparlrerl ard |r l|e
Projecl Appra|sa| 0eparlrerl al lead 0ll|ce |ard||rg var|ous |rduslr|a| / |rlraslruclure projecls or ||s porllo||o saW ||r rap|d|y
c||ro|rg l|e corporale |adder .le |eaded l|e Soul|err Reg|ora| 0ll|ce ol l06l, l|s |eaders||p ol l|e Soul|err Zore ersured
p|erorera| ous|ress groWl| |r l|al zore.
1. l06l lrlral|r L|r|led.
2. Sloc| lo|d|rg Corporal|or ol lrd|a L|r|led.
3. Assel Recorslrucl|or Corpary (l) L|r|led.
0r. 0. C|ardrase||arar 0r. 0. C|ardrase||arar |s a Prolessor |r l|e 0eparlrerl ol Earl| Sc|erces, lrd|ar lrsl|lule ol Tec|ro|ogy 6oroay. le
oola|red ||s V.Sc. degree |r App||ed 0eo|ogy |r 19/2 ard P|.0. (T|es|s: Teclor|sr ard Vo|car|sr ol l|e 0ecar Traps)
|r 19/9. le |s Wor||rg |r l|e l|e|ds ol vo|caro|ogy, grourdWaler po||ul|or ard geol|err|cs over l|e pasl 30 years. w|l| ||s
vasl exper|erce |r geol|err|cs, lrd|ar lrsl|lule ol Tec|ro|ogy 6oroay ercouraged ||r lo |rcuoale V/s 0eoSyrd|cale PoWer
Pr|vale Lld., l|e or|y geol|erra| corpary |r lrd|a. le |s currerl|y l|e C|a|rrar ol V/s 0eoSyrd|cale PoWer Pr|vale Lld, lrd|a.
le |s a|so a reroer ol l|e Adv|sory corr|llee ol l|e 0|0C Erergy Cerlre.
1. 0eosyrd|cale PoWer Pr|vale L|r|led.
2. lrd|ar Rare Earl|s L|r|led.
3. weslerr Coa|l|e|ds L|r|led.
4. 0|| ard |alura| 0as Corporal|or L|r|led.
Note: Al preserl l|ere are T|ree lrdeperderl 0|reclors or l|e 6oard W||c| corsl|lule 1/3
rd
ol 6oard slrergl|. T|e corpary |as la|er up W|l| V|r|slry ol Pelro|eur ard
|alura| 0as (V0P&|0) 0overrrerl ol lrd|a lor appo|rlrerl ol requ|s|le ruroer ol |rdeperderl 0|reclors lo corp|y W|l| l|e requ|rererl ol C|ause 49 (l) (A) (||) ol l|e ||sl|rg
agreererl.
(||) PA$T 0|PE6T0P$
0|rector Execut|ve| Non-Execut|ve 6ategory No. of other 0|rectorsh|p No. of outs|de 6omm|ttees
Pub||c Pr|vate Hember 6ha|rman
S|r| A.K.lazar||a |or-Execul|ve ProrolerCorpary's0|reclor / - - -
S|r| 0.K.Sarral |or-Execul|ve ProrolerCorpary's0|reclor / - 3 -
S|r| K.S. Jaresl|r |or-Execul|ve ProrolerCorpary's0|reclor 4 - 2 -
(|||) 6hAN0E$ |N ThE ß0AP0 0F 0|PE6T0P$ 0uP|N0 2011-2012
0|rector 0ate of Appo|ntment 0ate of 6essat|on Pemarks
S|r| V|s|ru AgraWa| 01/04/2011 |ol App||cao|e Pursuarl lo order daled 01/04/2011 oy V|r|slry ol Pelro|eur & |alura| 0as, (VoP&|0),
0overrrerl ol lrd|a S|r| V|s|ru AgraWa| Was appo|rled as 0|reclor (F|rarce).
S|r| 0. K. Sarral 29/0//2010 1o/09/2011 Res|gred lror l|e 6oard ol VRPL corsequerl upor ||s appo|rlrerl as Varag|rg 0|reclor or
l|e 6oard ol 0|0C V|des| L|r|led.
S|r| K.S Jaresl|r 2o/09/2011 31/10/2011 0|0C |ad ror|raled S|r| K.S.Jaresl|r as a 0|reclor or l|e 6oard |r p|ace ol S|r| 0.K.Sarral
lo l||| l|e casua| vacarcy.
T|e ror|ral|or ol S|r| K.S.Jaresl|r as a 0|reclor |as oeer W|l|draWr oy 0|0C l|e parerl
corpary, lror l|e 6oard ol VRPL lor opl|r|z|rg l|e slrergl| ol l|e 6oard |r corp||arce W|l|
C|ause 3.1.3 ol l|e rardalory 0u|de||res ol Corporale 0overrarce lor Cerlra| Puo||c Seclor
Erlerpr|ses (CPSE) |ssued oy 0eparlrerl ol Puo||c Erlerpr|ses (0PE), 0overrrerl ol lrd|a S|r|
K.S Jaresl|r |s corl|ru|rg as spec|a| |rv|lee or l|e 6oard.
S|r| A.K.lazar||a 01/02/2011 31/10/2011 0|0C |ad ror|raled S|r| A.K.lazar||a as a C|a|rrar / 0|reclor or l|e 6oard |r p|ace ol S|r|
R.S.S|arra corsequerl upor ||s superarrual|or lror l|e serv|ces ol 0|0C.
T|e ror|ral|or ol S|r| A.K.lazar||e as a 0|reclor |as oeer W|l|draWr oy 0|0C l|e parerl
corpary, lror l|e 6oard ol VRPL lor opl|r|z|rg l|e slrergl| ol l|e 6oard |r corp||arce W|l|
C|ause 3.1.3 ol l|e rardalory 0u|de||res ol Corporale 0overrarce lor Cerlra| Puo||c Seclor
Erlerpr|ses (CPSE) |ssued oy 0eparlrerl ol Puo||c Erlerpr|ses (0PE), 0overrrerl ol lrd|a S|r|
A.K.lazar||a |s corl|ru|rg as spec|a| |rv|lee or l|e 6oard.
0r. 0.
C|ardrase||arar
10/01/2012 |ol App||cao|e Pursuarl lo l|e ror|ral|or ol 0|0C l|e parerl corpary, |r lerrs ol C|ause o.1 ol l|e 0u|de||res
or Corporale 0overrarce ol Cerlra| Puo||c Seclor Erlerpr|ses (CPSE) |ssued oy 0eparlrerl ol
Puo||c Erlerpr|ses (0PE), 0overrrerl ol lrd|a 0r. 0. C|ardrase||arar |as oeer appo|rled as
lrdeperderl 0|reclor
3/
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
(|v) 6hAN0E$ |N ThE ß0AP0 0F 0|PE6T0P$ AFTEP 31|03|2012
? S|r| u.K. 6asu, Varag|rg 0|reclor |as oeer superarrualed lror l|e
serv|ces or 30/0o/2012.
? S|r|P.P.upad|ya|asassuredl|ec|argeolVarag|rg0|reclorW.e.l.
01/0//2012.
A) ATTEN0AN6E 0F 0|PE6T0P$ AT ThE ß0AP0 HEET|N0 hEL0 0uP|N0
ThE F|NAN6|AL YEAP 2011-12 AN0 23
rd
ANNuAL 0ENEPAL HEET|N0
hEL0 0N 2I|08|2011
[|) 0ETA|L$ 0F ß0AP0 HEET|N0$ hEL0 0uP|N0 ThE F|NAN6|AL YEAP
2011-12.
0ate of meet|ng Heet|ng no. P|ace
30.04.2011 1o0 Varga|ore
20.05.2011 1o1 |eW 0e|||
23.0o.2011 1o2 |eW 0e|||
2o.0/.2011 1o3 |eW 0e|||
2/.08.2011 1o4 Varga|ore
2o.09.2011 1o5 |eW 0e|||
21.10.2011 1oo |eW 0e|||
25.11.2011 1o/ Vuroa|
24.01.2012 1o8 |eW 0e|||
10.03.2012 1o9 |eW 0e|||
Note: 0ur|rg l|e year 2011-12 lola| 10 6oard Veel|rgs Were |e|d.
(||) ATTEN0AN6E 0F 0|PE6T0P$ 0uP|N0 ThE YEAP 2011-12.
0|rector No. of ßoard
Heet|ngs attended
Attended Last A0H
S|r| Sud||r Vasudeva 10 Yes
S|r| u.K 6asu 10 Yes
S|r| P.P. upad|ya 10 Yes
S|r| V|s|ru AgraWa| 9 Yes
S|r| V|ve| Kurar / |o
S|r| K. Vura|| o Yes
S|r| 6. Rav|rdraral| 9 Yes
0r. A. K. Ral| 9 Yes
0r. 0. C|ardrase||arar 2 |o
(|||) ATTEN0AN6E 0F ThE PA$T 0|PE6T0P$ 0uP|N0 ThE YEAP 2011-12.
0|rector No. of ßoard Heet|ngs
attended
Attended Last A0H
S|r| 0.K. Sarral 3 |o
S|r| A.K. lazar||a / Yes
S|r| K S Jaresl|r 1 |o
S|r| 0. K. Sarral |as res|gred lror l|e 6oard ol VRPL corsequerl upor ||s
appo|rlrerl as Varag|rg 0|reclor or l|e 6oard ol 0|0C V|des| L|r|led.
T|e ror|ral|or ol S|r| A.K.lazar||a, ard S|r| K.S.Jaresl|r, Was W|l|draWr
oy 0|0C l|e parerl corpary W|l| ellecl lror 31/10/2011 lor opl|r|z|rg
l|e slrergl| ol l|e 6oard |r corp||arce W|l| C|ause 3.1.3 ol l|e rardalory
0u|de||res ol Corporale 0overrarce lor Cerlra| Puo||c Seclor Erlerpr|ses
(CPSE) |ssued oy 0eparlrerl ol Puo||c Erlerpr|ses (0PE), 0overrrerl ol
lrd|a. S|r| A.K.lazar||a ard S|r| K.S.Jaresl|r are corl|ru|rg as spec|a|
|rv|lees or l|e 6oard ol l|e corpary.
2) Au0|T 60HH|TTEE
(|) TEPH$ 0F PEFEPEN6E:
T|e Aud|l Corr|llee Was corsl|luled or l|e lerrs ol relererce as prescr|oed
urder Secl|or 292A ol l|e Corpar|es Acl, 195o , C|ause 49 ol l|e L|sl|rg
Agreererl W|l| l|e Sloc| Exc|arges, ard 0u|de||res or Corporale
0overrarce lor Cerlra| Puo||c Seclor Erlerpr|se |ssued oy 0eparlrerl ol
Puo||c Erlerpr|se (0PE)., 0overrrerl ol lrd|a.
(||) 60HP0$|T|0N 0F Au0|T 60HH|TTEE A$ 0N 31.03.2012
Hembers of Aud|t 6omm|tte 6ategory
S|r| 6. Rav|rdraral| C|a|rrar (lrdeperderl 0|reclor)
0r. A.K. Ral| Veroer (lrdeperderl 0|reclor)
0r. 0. C|ardrase||arar Veroer (lrdeperderl 0|reclor) ¯
S|r| K. Vura|| Veroer
¯ 0r. 0. C|ardrase||arar |as oeer |rducled |r lo Aud|l Corr|llee as a Veroer
W.e.l. 0/.02.2012.
Note:
? T|eCorparycorp||esW|l|l|erequ|rererlolC|ause49(ll)(A)oll|e||sl|rg
agreererl as regards lo corsl|lul|or ol l|e aud|l corr|llee.
? 0|reclor(F|rarce),0|reclor(Tec|r|ca|)ard0erera|Varager(lrlerra|Aud|l)
are l|e perrarerl |rv|lees lo l|e Aud|l Corr|llee reel|rgs.
? CorparySecrelary|sl|eSecrelarylol|eAud|lCorr|llee.
? SlaluloryAud|lorsarespec|a||rv|leeW|||erev|eW|rgl|el|rarc|a|accourlsoy
l|e Aud|l Corr|llee
(|||) 0ETA|L$ 0F ThE Au0|T 60HH|TTEE HEET|N0 hEL0 0uP|N0 ThE
F|NAN6|AL YEAP 2011-12
0ate of Heet|ng Heet|ng no. No. of members
attended
20.05.2011 4/ 4
2o.0/.2011 48 4
2o.08.2011 49 3
21.10.2011 50 2
24.01.2012 51 2
Note: 0ur|rg l|e year 2011-12 lola| 5 Aud|l Corr|llee Veel|rgs Were |e|d.
(|v) ATTEN0EN6E |N Au0|T 60HH|TTEE HEET|N0$.
Hembers of Aud|t 6omm|tte No. of Heet|ngs
attended
Pemarks
S|r| 6. Rav|rdraral|
4
S|r| Sud||r Vasudeva
2 Pasl reroer
S|r| K. Vura||
4
0r. A. K. Ral|
5
0r. 0. C|ardrase||arar
|eW reroer s|rce
10/01/2012
3) PEHuNEPAT|0N 60HH|TTEE:
VRPL oe|rg a 0overrrerl Corpary ard CPSE, appo|rlrerl, lerrs ard
cord|l|ors ol rerureral|or ol Varag|rg 0|reclors ard Furcl|ora| 0|reclors
(w|o|e-l|re 0|reclors) are delerr|red oy l|e 0overrrerl ol lrd|a
Pursuarl lo C|ause 49 ol l|e L|sl|rg Agreererl ard a|so oy 0PE gu|de||res
or Corporale 0overrarce lor CPSE, l|e Corpary |as corsl|luled a
Rerureral|or Corr|llee |r Apr|| 2009. 0ur|rg l|e year 2011-12 lola| 3
Rerureral|or Corr|llee Veel|rgs Were |e|d. T|e Corr|llee corpr|ses
lo||oW|rg 0|reclors as or 31/03/2012:
Hembers of Pemunerat|on 6omm|ttee
Attendance of
Hembers
0r. A.K. Ral| C|a|rrar (lrdeperderl 0|reclor) 3
S|r| 6. Rav|rdraral| Veroer (lrdeperderl 0|reclor) 3
S|r| V|ve| Kurar Veroer (0overrrerl 0|reclor) 2
T|e Corpary pays l|e s|ll|rg lees or|y lo lrdeperderl 0|reclors lor allerd|rg
l|e 6oard Suo-Corr|llee ard 6oard reel|rgs.
38
Annua| Peport 2011-12
[|) 0ETA|L$ 0F PEHuNEPAT|0N [$|TT|N0 FEE$) PA|0 T0 ThE
|N0EPEN0ENT0|PE6T0P$0uP|N0FY2011?12:
|ndependent 0|rectors $|tt|ng Fees [`)
S|r| 6. Rav|rdraral| 3,45,000
0r. A. K. Ral| 4,20,000
0r. 0.C|ardrase||arar 30,000
[||) 0ETA|L$ 0F PEHuNEPAT|0N PA|0 T0 HANA0|N0 0|PE6T0P,
0|PE6T0P [F|NAN6E) AN0 0|PE6T0P [TE6hN|6AL) 0uP|N0 FY 2011-
12 0N PA|0 ßA$|$ :
(Arourl |r `)
Part|cu|ars Hanag|ng
0|rector
0|rector
[Techn|ca|)
0|rector
[F|nance)
Tota|
Sa|ar|es ard
A||oWarces
35,o4,/81 24,12,//8 1/,/4,1o/ //,51,/2o
Corlr|oul|or lo PF &
0l|er Furds
3,95,o35 3,39,o9/ 3,24,o4/ 10,59,952
0l|er Perqu|s|les &
6erel|ls
2,o9,081 - - -
Tota| 42,29,49I 2I,52,448 20,98,814 90,80,I59
$erv|ce 6ontract 5 years or l|e dale ol superarrual|or
W||c|ever |s ear||er
|ol|ce per|od T|ree Vorl|s |ol|ce or or payrerl ol
l|ree rorl|s sa|ary |r ||eu l|ereol.
Severarce lees |ol App||cao|e
Sloc| 0pl|ors dela||s (|l ary) |ol App||cao|e
w|el|er |ssued al d|scourl |ol App||cao|e
Per|od over W||c| |l |s accrued
ard |s exerc|sao|e
|ol App||cao|e
[|||) 0|PE6T0P'$$hAPEh0L0|N0:
T|e lo||oW|rg 0|reclors are |o|d|rg Equ|ly s|ares ol l|e Corpary as or
31/03/2012:
Name of the 0|rector No. of $hares he|d
S|r| Sud||r Vasudeva 300
S|r| V|s|ru AgraWa| 50
4) $hAPEh0L0EP$'||NVE$T0P$'0P|EVAN6E60HH|TTEE
(|) T|eCorpary|ascorsl|luledS|are|o|ders'/lrveslors'0r|evarceCorr|llee
pursuarl lo C|ause 49(lV) (0) (|||) ol L|sl|rg Agreererl ard 0u|de||res |ssued
oy SE6l.
60HP0$|T|0N 0F $hAPEh0L0EP$'| |NVE$T0P$' 0P|EVAN6E
60HH|TTEE A$ 0N 31|03|2012.
Hembersof$hareho|ders'||nvestors'
0r|evance 6omm|ttee
6ategory
S|r| 6. Rav|rdraral| C|a|rrar
(lrdeperderl 0|reclor)
S|r| u.K. 6asu Veroer
S|r| P.P. upad|ya Veroer
S|r| V|s|ru AgraWa| Veroer
0r. A.K. Ral| Veroer (lrdeperderl 0|reclor)
0r. 0. C|ardrase||arar Veroer (lrdeperderl 0|reclor)
(||) A S|are Trarsler Corr|llee |s corsl|luled lo approve lrarsler, lrarsr|ss|or,
0eraler|a||zal|or, reraler|a||zal|or elc.
|ole:
? |areard0es|gral|oroll|eCorp||arceoll|cer:S|r|0|res|V|s|ra,
Corpary Secrelary.
? |o.olS|are|o|der'scorp|a|rlsrece|veddur|rgl|eFY2011-2012:101
? |o.olcorp|a|rlsrera|rsurreso|veddur|rgl|eFY2011-2012:|lL
? |o.olperd|rgs|arelrarslersasor31/03/2012:|lL
5) 0ETA|L$ 0F 0ENEPAL ß00Y HEET|N0$
(|) Local|or, p|ace ard l|re W|ere |asl 3 A0Vs Were |e|d
Year Locat|on 0ate T|me
2011 Reg|slered 0ll|ce ol l|e Corpary
Vudapadav,Kul|el|oorP.0.V|a
Kal|pa||a,Varga|ore?5/5030
2//08/2011 4.00 p.r
2010 Reg|slered 0ll|ce ol l|e Corpary
Vudapadav, Kul|el|oor P.0.V|a
Kal|pa||a,Varga|ore?5/5030
04/09/2010 3.30 p.r
2009 Reg|slered 0ll|ce ol l|e Corpary
Vudapadav, Kul|el|oor P.0.V|a
Kal|pa||a,Varga|ore?5/5030
19/09/2009 3.30 p.r
(||) w|el|er ary spec|a| reso|ul|ors passed |r l|e prev|ous 3 A0Vs?
0re spec|a| reso|ul|or Was passed |r l|e 21
sl
A0V lor:
a. lrcreas|rg l|e ruroer ol 0|reclors |r VRPL 6oard lror 12 lo 1o, ard
o. 0ecreas|rg l|e ruroer ol |or|ree 0|reclors ol 0|0C lror 2 lo 1 lor
l|e purpose ol 0uorur lor l|e 6oard Veel|rg
0re spec|a| reso|ul|or Was passed |r l|e 22
rd
A0V lor:
Appo|rlrerl ol 0r. A.K. Ral| as lrdeperderl 0|reclor ol l|e corpary ||ao|e lo
rel|re oy rolal|or
(|||) Ary spec|a| reso|ul|ors Were pul l|roug| Posla| oa||ol |asl year:
|o spec|a| reso|ul|or Was pul l|roug| posla| oa||ol |r l|e |asl A0V.
(|v) Persors W|o corducled l|e Posla| 6a||ol exerc|se:
|ol App||cao|e.
(v) Procedure lor Posla| 6a||ol:
|ol App||cao|e.
ê) 0|$6L0$uPE$:
(|) HATEP|ALLY $|0N|F|6ANT PELATE0 PAPTY TPAN$A6T|0N$:
(a) T|e Corpary |s a Slale corlro||ed erlerpr|se ard l|ere are ro
lrarsacl|ors lo oe d|sc|osed as per l|e Accourl|rg Slardard 18 (AS
- 18) ol Re|aled Parly 0|sc|osures |ssued oy l|e lrsl|lule ol C|arlered
Accourlarlsollrd|aexcepl'o'ard'c'rerl|oredoe|oW.
(o) Key Varagererl Persorre|:
w|o|e-l|re 0|reclors:
S|r| u.K 6asu : Varag|rg 0|reclor
S|r| P.P. upad|ya : 0|reclor (Tec|r|ca|)
S|r| V|s|ru AgraWa| : 0|reclor (F|rarce)
0eta||s of Transact|ons dur|ng f|nanc|a| year 2011-2012:
T|e Rerureral|or pa|d lo Varag|rg 0|reclor, 0|reclor (Tec|r|ca|) ard
0|reclor (F|rarce) lor l|e FY 2011-12.
? Sa|ar|es ard A||oWarces ` //,51,/2o V||||or |rc|ud|rg
Perlorrarce Re|aled Pay as per 0eparlrerl ol Puo||c
Erlerpr|se gu|de||re daled 9
l|
Feo, 2009.
? Corlr|oul|or lo Prov|derl Furd ` 10,59,952 V||||or.
? 0l|er perqu|s|le ard oerel|ls ` 2,o9,081 V||||or.
(Exc|ud|rg accrued |eave sa|ary ard gralu|ly s|rce l|e sare |s rol ava||ao|e lor
|rd|v|dua| erp|oyees)
39
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
(c) Enterpr|ses |n Wh|ch s|gn|f|cant |nf|uence |s exerc|sed:
Name Pe|at|onsh|p Nature of Transact|on
0|0C Varga|ore
Pelroc|er|ca|s L|r|led
Assoc|ale 0ela||s lurr|s|ed |r
|ole-30 (|oles lo
Accourls)
S|e|| VRPL Av|al|or Fue|
& Serv|ces Pr|vale L|r|led.
Jo|rl Verlure
Varga|ar Rela|| Serv|ces
L|r|led
Jo|rl Verlure
Varga|ore SEZ L|r|led Assoc|ale
(||) 0ela||s ol ror-corp||arce oy l|e corpary, pera|l|es, slr|clures |rposed oy
l|e Sloc| Exc|arge or SE6l or ary aul|or|ly or ary raller re|aled lo cap|la|
rar|els dur|rg |asl 3 years: |lL
(|||) Non- Handatory Pequ|rements:
a) T|eCorparyra|rla|rsaC|a|rrar'soll|ceal|lsexperse.
o) VRPL oe|rg a 0overrrerl Corpary, appo|rlrerl ard lerrs ard
cord|l|ors ol rerureral|or ol Execul|ve 0|reclors (W|o|e-l|re d|reclors)
are delerr|red oy l|e Pres|derl ol lrd|a excepl l|e Perlorrarce
Re|aled Pay W||c| |s approved oy l|e Rerureral|or Corr|llee W|l||r
l|e ||r|ls l|xed urder 0PE 0u|de||res.
c) Asl|eCorpary's0uarler|y/la|lYear|yF|rarc|a|resu|lsared|sp|ayed
or l|e Weos|le ol l|e corpary, l|e |a|l-year|y reporl |s rol serl lo eac|
S|are|o|ders res|derce.
d) T|ere are ro qua||l|cal|ors |r l|e Aud|lor's reporl or l|e l|rarc|a|
slalererls lo l|e s|are|o|ders ol l|e Corpary.
e) T|ere |s ro lorra| po||cy al preserl lor lra|r|rg ol l|e 6oard reroers
ol l|e Corpary as l|e reroers ol l|e 6oard are er|rerl ard
exper|erced proless|ora|s. loWever, l|e corpary |s p|arr|rg lo
corducl su|lao|e lra|r|rg lor 6oard Veroers.
l) T|ere |s ro lorra| rec|ar|sr ex|sl|rg |r perlorrarce eva|ual|or ol
ror-execul|ve d|reclors.
g) w||sl|e 6|oWer Po||cy: T|e Corpary |as lorru|aled a w||sl|e 6|oWer
po||cy W||c| |as oeer approved oy l|e 6oard.
|) T|e corpary rardalor||y corp||es W|l| a|| l|e Accourl|rg Slardards
|ssued oy lCAl lror l|re lo l|re excepl Accourl|rg Slardard-1/
Segrerl Reporl|rg, |r respecl ol W||c| relererce |as oeer rade lo
l|e Experl Adv|sory Corr|llee ol l|e lCAl.
(|v) 600E 0F 60N0u6T F0P HEHßEP$ 0F ThE ß0AP0 AN0 $EN|0P
HANA0EHENT
T|e 6oard al |ls reel|rg |e|d or 30/01/200o, |as adopled a Code ol Corducl
('Code') lor Veroers ol l|e 6oard ard Ser|or Varagererl.T||s Code |s a
corpre|ers|ve code app||cao|e lo Execul|ve ard |or-execul|ve 0|reclors as
We|| as reroers ol l|e Ser|or Varagererl |.e. Varager|a| Persorre| al l|e
|eve| ol 0roup 0erera| Varager ard aoove ol l|e Corpary. A copy ol l|e
Code|asoeerp|acedorl|eCorpary'sWeos|leWWW.rrp|.co.|r
T|e Code |as oeer c|rcu|aled lo a|| l|e reroers ol l|e 6oard ard Ser|or
Varagererl ard corp||arce ol l|e sare |as oeer all|rred oy l|er. A
dec|aral|or s|gred oy Varag|rg 0|reclor |s g|ver oe|oW:
| hereby conf|rm that:
The 6ompany has obta|ned aff|rmat|on from a|| the members of the
ßoard and $en|or Hanagement that they have comp||ed W|th the 6ode
of 6onduct for Hembers of ßoard and $en|or Hanagement, |n respect of
the f|nanc|a| year 2011-12.
P.P. upadhya
Hanag|ng 0|rector
(v) HPPL 600E 0N |N$|0EP TPA0|N0
lr pursuarce ol l|e Secur|l|es ard Exc|arge 6oard ol lrd|a (Pro||o|l|or ol
lrs|der Trad|rg) (Arerdrerl) Regu|al|ors, 2008 l|e 6oard |as approved l|e
arerded ¯Code ol Corducl lor Preverl|or ol lrs|derTrad|rg¨.T||s Code |s
lo||oWed oy a|| 0es|graled Erp|oyees ol l|e Corpary.
(v|) 6E0 & 6F0 6EPT|F|6AT|0N
lr lerrs ol rev|sed C|ause 49 ol l|e L|sl|rg Agreererl, l|e cerl|l|cal|or oy
l|e CE0 & CF0 or l|e l|rarc|a| slalererls ard |rlerra| corlro|s re|al|rg lo
l|rarc|a| reporl|rg |as oeer oola|red.
I) HEAN$ 0F 60HHuN|6AT|0N:
|) 0uarler|y Resu|ls : 0uarler|y Resu|ls ol l|e Corpary
are puo||s|ed |r 6us|ress Slardard
(Erg||s|),udayavar| -Var|pa| (Karrada)
ard are a|so d|sp|ayed |r l|e Corpary's
Weos|le WWW.rrp|.co.|r
||) |eWs Re|eases,
Preserlal|ors, elc
: 0ll|c|a| reWs re|eases ard 0ll|c|a| Ved|a
Re|eases are serl lo l|e Sloc| Exc|arges.
|||) Preserlal|or lo
lrsl|lul|ora| lrveslors
/Ara|ysls.
: |o
|v) weos|le : T|e Corpary's Weos|le WWW.rrp|.co.|r
corla|rs a separale ded|caled secl|or
'lrveslor Serv|ces' W|ere s|are|o|ders
|rlorral|or |s ava||ao|e. T|e Arrua|
Reporl ol l|e Corpary |s a|so ava||ao|e
or l|e Weos|le |r a user-lr|erd|y ard
doWr|oadao|e lorr.
v) Arrua| Reporl : Arrua| Reporl corla|r|rg, |rler-a||a,
Aud|led Arrua| Accourls, Corso||daled
F|rarc|a| Slalererls, 0|reclor's Reporl,
Aud|lor's Reporl ard ol|er erl|l|ed
l|erelo. T|e Varagererl 0|scuss|or ard
Ara|ys|s (V0A) Reporl lorrs parl ol l|e
Arrua| Reporl ard |s d|sp|ayed or l|e
Corpary's Weos|le WWW.rrp|.co.|r
v|) C|a|rrar's
Corrur|que
: Pr|rled copy ol l|e C|a|rrar's Speec|
|s d|slr|ouled lo a|| l|e s|are|o|ders al
l|e Arrua| 0erera| Veel|rgs. T|e sare
|s a|so p|aced or l|e Weos|le ol l|e
Corpary ard serl lo Sloc| Exc|arges
ard puo||s|ed |r |ead|rg |eWspapers.
v||) Rer|rder lo lrveslors : Rer|rders lor urc|a|red s|ares, urpa|d
d|v|derd/urpa|d |rleresl or rederpl|or
arourl or deoerlures are serl lo l|e
s|are|o|ders/deoerlure |o|ders as per
records every year.
v|||) Corporale F|||rg
ard 0|sser|ral|or
Sysler(CF0S)
: T|e CF0S porla| jo|rl|y oWred, raraged
ard ra|rla|red oy 6SE ard |SE |s a
s|rg|e source lo v|eW |rlorral|or l||ed
oy ||sled corpar|es. A|| d|sc|osures ard
corrur|cal|ors lo 6SE & |SE are l||ed
e|eclror|ca||y l|roug| l|e CF0S porla| ard
|ard cop|es ol l|e sa|d d|sc|osures ard
corresporderce are a|so l||ed
|x) |SE E|eclror|c
App||cal|or
Process|rg Sysler
(|EAPS)
: T|e |EAPS |s Weo oased app||cal|or
des|gred oy |SE lor corporale, T|e
S|are|o|d|rg Pallerr ard Corporale
0overrarce Reporl are a|so l||ed
e|eclror|ca||y or |EAPS.
40
Annua| Peport 2011-12
x) SE6l Corp|a|rls
Redress Sysler (
SC0RES)
: T|e |rveslors corp|a|rls are processed
|r a cerlra||zed Weo oased corp|a|rls
are processed |r a cerlra||zed Weo oased
corp|a|rls redress sysler. T|e sa||erl
lealures ol l||s sysler are: Cerlra||zed
dalaoase ol a|| corp|a|rls, or||re up|oad
ol Acl|or Ta|er Reporls (ATRs) oy l|e
corcerred corpar|es ard or||re v|eW|rg
oy |rveslors ol acl|ors la|er or l|e
corp|a|rl ard |ls currerl slalus.
x|) 0es|graled Exc|us|ve
era||-|d
: T|e Corpary |as des|graled l|e
lo||oW|rg e-ra||-|ds exc|us|ve|y lor |rveslor
serv|c|rg.
a) For quer|es or Arrua| Reporl-
|rveslorCrrp||rd|a.cor
o) For quer|es |r respecl ol s|ares |r
p|ys|ca| rode- rrp||rcC||r||rl|re.co.|r
8) 0ENEPAL $hAPEh0L0EP$ |NF0PHAT|0N
24
th
ANNuAL 0ENEPAL HEET|N0
(|) Corpary Reg|slral|or
0ela||s
: T|e Corpary |s reg|slered |r l|e Slale ol
Karrala|a, lrd|a. T|e Corporale lderl|ly
|uroer (Cl|) a||olled lo l|e Corpary
oy l|e V|r|slry ol Corporale Alla|rs
(VCA) |s L85110KA198800l008959
(||) 0ay, 0ale, T|re ard
Verue
: 15
l|
Sepleroer, 2012, Salurday al 4.00
p.r, Reg|slered 0ll|ce: Vudapadav,
Kul|el|oor P.0.V|a Kal|pa||a, Varga|ore
?5/5030
(|||)
(|v)
(v)
F|rarc|a| Year
0ale ol 6oo| C|osure
0|v|derd Payrerl 0ale
:
:
01/04/2011 lo 31/03/2012.
14
l|
Ju|y 2012, Salurday, lo 28
l|
Ju|y
2012, Salurday (ool| days |rc|us|ve) lor
payrerl ol d|v|derd. 0|v|derd W||| oe
pa|d or|y aller oola|r|rg approva| oy l|e
S|are|o|ders al l|e 24
l|
Arrua| 0erera|
Veel|rg lo oe |e|d or 15
l|
Sepleroer,
2012.
(v|) L|sl|rg or Sloc| Exc|arge
A) Equ|ly S|ares : 1) 6oroay Sloc| Exc|arge L|r|led
P||roze Jeejeeo|oy ToWers,0a|a|
Slreel, Vuroa|- 400 001
Scr|p Code: 500109
2) T|e |al|ora| Sloc| Exc|arge ol
lrd|a L|r|led, Exc|arge P|aza,
6ardra (E), Vuroa| - 400 051
Trad|rg Syroo|: VRPL
lSl|: l|E103A01014
6) Payrerl ol L|sl|rg
Fees
: Arrua| ||sl|rg lee lor l|e year 2012-13
|as oeer pa|d oy l|e Corpary lo 6SE
ard |SE.
C) Payrerl ol
0epos|lory Fees
: Arrua| Cuslody/ lssuer lee lor l|e year
2012-13 |as oeer pa|d oy l|e Corpary
lo |S0L ard C0SL.
(v||) 6r|el Resure ol a|| 0|reclors rerl|or|rg qua||l|cal|or, experl|se, rares ol
l|e corpar|es |r W||c| l|ey |o|d C|a|rrars||p/ 0|reclors||p |r l|e 6oard
ard C|a|rrars||p/ 0|reclors||p |r l|e 6oard suo- corr|llees, s|are|o|d|rg
|r l|ese corpar|es ard re|al|ors||p oelWeer d|reclor LQWHUVH pursuarl lo
C|ause 49 ol L|sl|rg agreererl W|l| Sloc| exc|arges are prov|ded |r l||s
reporl W||c| lorrs parl ol l|e Arrua| Reporl.
(v|||) Var|el Pr|ce 0ala
Honth
[2011-2012)
Nat|ona| $tock
Exchange
ßombay $tock
Exchange
h|gh (`) LoW (`) h|gh (`) LoW (`)
Apr|| 2011 /o.4 o4.25 /o.50 o4.25
Vay 2011 /o.o5 o/.85 /o.o5 o/.90
Jure 2011 80.o /1 80.o0 /1.10
Ju|y' 2011 84.5 /o.8 84./5 /o.50
Augusl 2011 80.3 5/./ 80.20 5/.50
Sepleroer 2011 o9./5 o1.1 o9.90 o1.35
0clooer 2011 o/.9 58.1 o/.40 59.05
|overoer 2011 oo.9 5o.2 o5.00 58.45
0eceroer 2011 o9 49.3 o3.15 50.00
Jaruary 2012 o2.2 50.25 o2.90 51.00
Feoruary 2012 /3.95 o0.2 /4./5 o0.00
Varc| 2012 /2.45 58.3 /2.40 58.25
(|x) Perlorrarce |r corpar|sor lo oroad oased |rd|ces suc| as |SE |lFTY ard
6SE Sersex:
|SE (|lFTY) 2011-12
6SE SE|SEX 2011-12
(x) Reg|slrar ard Trarsler Agerl: V/s L|r| lrl|re lrd|a Pr|vale L|r|led., C - 13,
Parra|a|S|||V|||sCorpourd,L.6.SVarg,6|ardup(w),Vuroa|?4000/8
|ave oeer appo|rled as Corpary's R&T Agerl W.e.l 1/1/2010. Ear||er, V/s
VCS Lld Was our R&T Agerl uplo 31/12/09 as per l|e lerrs ol corlracl ol
appo|rlrerl.
30º
20º
10º
0º
-10º
-20º
-30º
Apr||
Vay
Jure
Ju|y
Aug
3epl
0cl
|ov
0ec
Jar
Feo
Varc|
|3E(|lFTY) VRPL
30º
20º
10º
0º
-10º
-20º
-30º
Apr||
Vay
Jure
Ju|y
Aug
3epl
0cl
|ov
0ec
Jar
Feo
Varc|
63E3ersex VRPL
41
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
(x|) S|are lrarsler sysler:
T|es|arelrarslerWor||soe|rg|ard|edoyCorpary'sR&Tagerls,V/s.L|r|lrl|relrd|aPvlLld.,W|oa|so|av|rgcorrecl|v|lyW|l|l|edepos|lory'sv|z.|S0Lard
C0SL. T|e lrarslers are approved oy l|e S|are lrarsler Corr|llee or Wee||y oas|s. S|are lrarslers are reg|slered ard d|spalc|ed W|l||r a per|od ol 30 days lror l|e
dale ol rece|pl prov|ded l|ey are corp|ele |r a|| respecls.
(x||) 0|slr|oul|or ol S|are|o|d|rg as or 31/03/2012.
No. of Equ|ty $hares he|d No. of shareho|ders ho|d|ng shares |n No. of shares he|d |n º of Equ|ty cap|ta| he|d |n
Phys|ca| Form 0emat Form Phys|ca| Form 0emat Form Phys|ca| Form 0emat Form
1-500 244489 24931/ 435/85o/ 43203589 2.49 2.4/
501-1000 10o1 15205 815025 1215o/99 0.05 0.o9
1001-2000 190 5385 2//50/ 8141413 0.02 0.4o
2001-3000 28 0.144/ /0325 3o98982 0 0.21
3001-4000 10 519 35208 18/0/5/ 0 0.11
4001-5000 1o 4o0 /5450 21/0849 0 0.12
5001-10000 12 59o 88150 42939// 0.01 0.25
10001 & aoove 8 410 24//00 1o318/44/9 0.01 93.11
Tota| 245814 2I3339 4518I932 1I0I410845 2.58 9I.42
(x|||) S|are|o|d|rg Pallerr as or 31/03/2012.
Part|cu|ars No. of $hares Percentage
0|| ard |alura| 0as Corporal|or Lld. 125535409/ /1.o2
l|rduslar Pelro|eur Corporal|or Lld. 29/153518 1o.9o
Res|derl lrd|v|dua|s 1151o934o o.5/
|or Res|derl lrd|v|dua|s 8/44814 0.5
0oresl|c Corpar|es 15255884 0.8/
0verseas Corporale 6od|es 1//02/10 1.01
0lC & Suos|d|ar|es/6ar|s & F|rarc|a| lrsl|lul|ors/Vulua| Furds 43202453 2.4/
Cerlra|/Slale 0ovl. lrsl|lul|ors 2/00 0
Trusls 13255 0
Tota| 1I52598III 100
(x|v) 0eraler|a||zal|or ol S|ares ard ||qu|d|ly
As or 31
sl
Varc| 2012, 1/0,/4,10,845 equ|ly s|ares represerl|rg 9/.42 º, |s |r deraler|a||zed lorr.
6ol| l|e prorolers, 0|0C ard lPCL |o|d|rgs are |r deraler|a||zed lorr pursuarl lo SE6l c|rcu|ar daled 1/.0o.2011.
(xv) urc|a|red/urde||vered S|ares
$|.
No
Part|cu|ars No. of
shareho|ders
No. of shares
1 Aggregale ruroer ol s|are|o|ders W|ose s|ares Were |y|rg urde||vered / urc|a|red al l|e oeg|rr|rg ol l|e year; 10098 1198/25
2 |uroer ol s|are|o|ders W|o approac|ed l|e corpary lor l|e|r urde||vered s|ares dur|rg l|e year; 8/4 1/3/00
3 |uroer ol s|are|o|ders lo W|or urde||vered s|ares Were relurred / re-posled dur|rg l|e year; 8/4 1/3/00
4 Aggregaleruroerols|are|o|dersardl|eoulslard|rgs|ares|rl|e¯urc|a|redS|areSusperseAccourl¨|y|rgall|eerd
ol l|e year;
9224 1025025
(xv|) 0ulslard|rg 00R/ A0R/ warrarls or ary corverl|o|e |rslrurerls, corvers|or dale ard |rpacl or equ|ly: |lL
(xv||) P|arl Local|or : Vudapadav, Kul|el|oor P.0.V|a Kal|pa||a, Varga|ore-5/5 030, Karrala|a.
(xv|||) Address lor Corresporderce:
PE0|$TEPE0 0FF|6E AN0 |NVE$T0P PELAT|0N$ 6ELL:
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted [HPPL)
Vudapadav, Kul|el|oor, P.0.V|a Kal|pa||a, Varga|ore-5/5 030, Karrala|a.
Te|e.|o.:0824-22/0400 Fax |o.: 0824-22/1404
Era||: |rveslorCrrp||rd|a.cor
weos|le: WWW.rrp|.co.|r
H|$ L|nk |nt|me |nd|a Pr|vate L|m|ted, [P&T Agent)
u|lT: VRPL C - 13, Parra|a| S||| V|||s Corpourd,
L. 6. S. Varg, 6|ardup (wesl), Vuroa| - 400 0/8.
Te|e. |o.: 2594o9/0, 259o3838, Fax |o.: 2594o9o9
Era||: rrp||rcC||r||rl|re.co.|r
weos|le.: WWW.||r||rl|re.co.|r
42
Annua| Peport 2011-12
To,
T|e 6oard ol 0|reclors,
Varga|ore Rel|rery ard Pelroc|er|ca|s Lld.
we |ave exar|red l|e reg|slers, records ard docurerls ol Varga|ore Rel|rery ard Pelroc|er|ca|s Lld. (l|e Corpary) lor l|e l|rarc|a| year erded or 31.3.2012 accord|rg
lo l|e prov|s|ors ol:
? T|e Corpar|es Acl, 195o ard Ru|es rade urder l|e Acl;
? T|e 0epos|lor|es Acl, 199o ard l|e Regu|al|ors ard 6ye-|aWs lrared urder l|e Acl;
? T|e Secur|l|es ard Exc|arge 6oard ol lrd|a (Suoslarl|a| Acqu|s|l|or ol S|ares ard la|eovers) Regu|al|ors, 199/;
? T|e Secur|l|es ard Exc|arge 6oard ol lrd|a (Pro||o|l|or ol lrs|der Trad|rg) Regu|al|ors, 1992;
? T|e Equ|ly L|sl|rg Agreererls W|l| l|e 6oroay Sloc| Exc|arge Lld. ard l|e |al|ora| Sloc| Exc|arge ol lrd|a Lld. ard
? 0u|de||res or Corporale 0overrarce lor Cerlra| Puo||c Seclor Erlerpr|ses as sl|pu|aled |r l|e 0.V.|o 18(8)/2005-0V daled 14
l|
Vay, 2010 ol l|e V|r|slry ol leavy
lrduslr|esardPuo||cErlerpr|ses,0overrrerlollrd|a(¯l|e0PE0u|de||resorCorporale0overrarce¨).
6ased or our exar|ral|or ard ver|l|cal|or ol records produced lo us ard accord|rg lo l|e |rlorral|or ard exp|aral|ors g|ver lo us oy l|e Corpary, |r our op|r|or:
1. wereporll|all|eCorpary|ascorp||edW|l|l|eprov|s|orsoll|eCorpar|esAcl,195o(¯l|eAcl¨)ardRu|esradeurderl|eAclardl|eVerorardurardArl|c|es
ol Assoc|al|or ol l|e Corpary W|l| regard lo:
a. Va|rlerarce ol slalulory reg|slers ard docurerls ard ra||rg recessary erlr|es l|ere|r;
o. F|||rg ol l|e requ|s|le lorrs ard relurrs W|l| l|e Reg|slrar ol Corpar|es, Karrala|a, 6arga|ore W|l||r l|e l|re prescr|oed urder l|e Acl ard l|e Ru|es rade
l|ereurder.
$E6PETAP|AL Au0|T PEP0PT
Au0|T0P'$6EPT|F|6ATE0N60HPL|AN6E0F60N0|T|0N$0F60PP0PATE00VEPNAN6E
T|e Veroers,
Varga|ore Rel|rery ard Pelroc|er|ca|s L|r|led
Varga|ore.
we |ave exar|red l|e corp||arce ol cord|l|ors ol Corporale 0overrarce oy V/s. Varga|ore Rel|rery ard Pelroc|er|ca|s L|r|led lor l|e year erded
31
sl
Varc|, 2012, as sl|pu|aled |r C|ause 49 ol l|e L|sl|rg Agreererl ol l|e sa|d Corpary W|l| sloc| exc|arge(s).
T|e corp||arce ol cord|l|ors ol Corporale 0overrarce |s l|e respors|o|||ly ol l|e Varagererl. 0ur exar|ral|or Was ||r|led lo procedures ard
|rp|ererlal|or l|ereol, adopled oy l|e Corpary lor ersur|rg l|e corp||arce ol l|e cord|l|ors ol l|e Corporale 0overrarce. ll |s re|l|er ard aud|l ror ar
express|or ol op|r|or or l|e l|rarc|a| slalererls ol l|e corpary.
lr our op|r|or ard lo l|e oesl ol our |rlorral|or ard accord|rg lo l|e exp|arl|ors g|ver lo us ard l|e represerlal|or rade oy l|e Varagererl, We cerl|ly
l|al l|e Corpary |as corp||ed W|l| l|e cord|l|ors ol Corporale 0overrarce as sl|pu|aled |r C|ause 49 ol l|e aoove rerl|ored L|sl|rg Agreererl excepl
re|al|rg lo appo|rlrerl ol lrdeperderl 0|reclors ol|er l|ar goverrererl ror|rees or l|e 6oard/Aud|l corr|llee ol l|e corpary, W||c| |s oe|rg pursued
W|l| l|e V|r|slry ol Pelro|eur ard |alura| 0as, 0overrrerl ol lrd|a.
we slale l|al ro |rveslor gr|evarce |s perd|rg W|l| l|e corpary as al 31
sl
Varc|, 2012 lor a per|od exceed|rg ore rorl| aga|rsl l|e Corpary as per l|e
records ra|rla|red ard cerl|l|ed oy l|e Corpary/Reg|slrar ard Trarsler Agerls ol l|e Corpary.
we lurl|er slale l|al suc| corp||arce |s re|l|er ar assurarce as lo l|e lulure v|ao|||ly ol l|e corpary ror l|e ell|c|ercy or ellecl|veress W|l| W||c| l|e
raragererl |as corducled l|e alla|rs ol l|e corpary.
For HAhAPAJ N.P.$uPE$h & 6o
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 001931S
For 00PALA|YEP AN0 $ußPAHAN|AN
C|arlered Accourlarls
F|rr Reg|slral|or |o. : 0009o0S
6A N P $uPE$h
Parlrer
Veroers||p |o. 021oo1
6A $. $uN0AP
Parlrer
Veroers||p |o. 202/25
|eW 0e||| : 23
rd
Vay, 2012
43
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
c. Serv|ce ol docurerls oy l|e Corpary or |ls reroers ard l|e Reg|slrar ol Corpar|es.
d. C|osure ol Reg|sler ol Veroers ard S|are Trarsler 6oo|s ol l|e Corpary.
e. |ol|ce ol 6oard Veel|rgs ard Corr|llee reel|rgs ol 0|reclors;
l. Corver|rg ard |o|d|rg ol l|e reel|rgs ol 0|reclors ard Corr|llees ol 0|reclors |rc|ud|rg pass|rg ol reso|ul|ors oy c|rcu|al|or;
g. T|e 23
rd
Arrua| 0erera| Veel|rg |e|d or 2/
l|
Augusl 2011.
|. Record|rg ard ra|rlerarce ol l|e r|rules ol l|e proceed|rgs ol 0erera| Veel|rgs ard Veel|rgs ol l|e 6oard ard corr|llees l|ereol.
|. Corsl|lul|or ol 6oard ol 0|reclors ard appo|rlrerl, rel|rererl ard re-appo|rlrerl ol d|reclors;
j. Appo|rlrerl ol C|a|rrar ard Varag|rg 0|reclor, w|o|e T|re 0|reclors ard ror-execul|ve 0|reclors ard l|e|r rerureral|or.
|. T|e 0|reclors d|sc|osed l|e|r |rleresls ard corcerrs |r corlracls ard arrargererls, s|are|o|d|rgs ard d|reclors||ps |r ol|er corpar|es ard |rleresls |r ol|er
erl|l|es ard l|e|r d|sc|osures |ave oeer roled ard recorded oy l|e 6oard.
|. Trarsler ard lrarsr|ss|or ol s|ares W|l||r l|e sl|pu|aled l|re ard |ssue ard de||very ol or|g|ra| ard dup||cale cerl|l|cales ol s|ares; deraler|a||zal|or/
reraler|a||zal|or ol s|ares;
r. 0ec|aral|or ard payrerl ol d|v|derd lo Equ|ly s|are|o|ders ard Prelererce S|are|o|ders.
r. T|e Corpary Was rol requ|red lo lrarsler ary arourl lo l|e lrveslor Educal|or ard Prolecl|or Furd dur|rg l|e currerl l|rarc|a| year;
o. lrveslrerlolCorpary'slurds|rc|ud|rg|rlercorporale|oarsard|rveslrerls.
p. Appo|rlrerl ard payrerl ol rerureral|or lo Slalulory Aud|lors.
q. Appo|rlrerl ol Cosl Aud|lors urder Secl|or 2336 ol l|e Acl.
r. T|e Corpary Was rol requ|red lo |eep |r aoeyarce r|g|ls lo d|v|derd dec|ared al l|e Arrua| 0erera| Veel|rg |e|d or 2/
l|
Augusl, 2011 as l|ere Was ro perd|rg
reg|slral|or ol lrarsler ol s|ares.
s. T|e Corpary |as rol |rv|led/accepled ary depos|ls la|||rg W|l||r l|e purv|eW ol Secl|or 58A ol l|e Acl dur|rg l|e l|rarc|a| year.
l. T|e Corpary |as rol rade ary secured oorroW|rgs dur|rg l|e l|rarc|a| year erded or 31
sl
Varc|, 2012.
u. T|e Corpary |as rol ooug|l oac| ary s|ares dur|rg l|e l|rarc|a| year.
v. T|e Corpary |as rol a|lered ary prov|s|ors ol |ls Verorardur ol Assoc|al|or or Arl|c|es ol Assoc|al|or dur|rg l|e l|rarc|a| year.
W. T|eCorpary|ascrealedaTrusl,rare|y,l|eProv|derlFurdolVRPLlor|lserp|oyees.T|eCorpary|asdepos|ledool|l|eerp|oyees'arderp|oyer's
corlr|oul|or W|l| l|e aoove Trusl W|l||r l|e prescr|oed l|re pursuarl lo Secl|or 418 ol l|e Acl.
x. T|ere Was ro prosecul|or |r|l|aled aga|rsl or s|oW cause rol|ce rece|ved oy l|e Corpary ard ro l|res or ary ol|er pur|s|rerl Was |rposed or l|e Corpary,
|ls 0|reclors ard oll|cers dur|rg l|e l|rarc|a| year lor ary ollerces urder l|e Acl.
2. we lurl|er reporl l|al l|e Corpary |as corp||ed W|l| l|e prov|s|ors ol l|e 0epos|lor|es Acl, 199o ard Regu|al|ors lrared l|ere urder W|l| regard lo deraler|a||zal|or/
reraler|a||sal|or ol secur|l|es ard recorc|||al|or ol records ol deraler|a||zed secur|l|es W|l| a|| secur|l|es |ssued oy l|e Corpary.
3. we lurl|er reporl l|al:
|. T|e Corpary |as corp||ed W|l| l|e requ|rererls ol Equ|ly L|sl|rg Agreererls erlered |rlo W|l| l|e 6oroay Sloc| Exc|arge Lld ard l|e |al|ora| Sloc|
Exc|arge ol lrd|a Lld. excepl l|al l|e 6oard ol 0|reclors does rol corpr|se ol l|e requ|red ruroer ol |rdeperderl d|reclors as per c|ause 49(l)(A)(||) ol l|e L|sl|rg
Agreererls.
||. T|e Corpary |as corp||ed W|l| l|e prov|s|ors ol Secur|l|es ard Exc|arge 6oard ol lrd|a (Suoslarl|a| Acqu|s|l|or ol S|ares ard Ta|eovers) Regu|al|ors, 199/
W|l| regard lo d|sc|osures ard ra|rlerarce ol records requ|red urder l|e Regu|al|ors.
|||. T|e Corpary |as corp||ed W|l| l|e prov|s|ors ol Secur|l|es ard Exc|arge 6oard ol lrd|a (Pro||o|l|or ol lrs|der Trad|rg) Regu|al|ors, 1992 W|l| regard lo
d|sc|osures ard ra|rlerarce ol records requ|red urder l|e Regu|al|ors.
4. lr our op|r|or ard lo l|e oesl ol our |rlorral|or ard accord|rg lo exp|aral|ors g|ver lo us oy l|e raragererl, We cerl|ly l|al, excepl l|e corpos|l|or ol l|e 6oard ol
0|reclors W|l| regard lo |rdeperderl 0|reclors, l|e Corpary |as corp||ed W|l| l|e 0PE gu|de||res or Corporale 0overrarce.
For u||as Kumar He||namogaru & Assoc|ates
Pracl|s|rg Corpary Secrelar|es
u||as Kumar He||namogaru
0ale: 18/0o/2012 Propr|elor
P|ace: Varga|ore CP |o. oo40
44
Annua| Peport 2011-12
N0TE$:
1. A member ent|t|ed to attend and vote at the Annua| 0enera| Heet|ng |s ent|t|ed to appo|nt a proxy
to attend and vote |nstead of h|mse|f and the proxy need not be a member of the company. The
proxy form shou|d be |odged W|th the company at |ts reg|stered off|ce, not |ater than forty-e|ght
hours before the t|me of commencement of the Annua| 0enera| Heet|ng.
2. Corporale reroers |rlerd|rg lo serd l|e|r aul|or|zed represerlal|ves lo allerd l|e Veel|rg
are requesled lo serd l|e|r ror|ral|or |eller approved oy corpelerl aul|or|ly aul|or|z|rg l|e|r
represerlal|ve lo allerd ard vole or l|e|r oe|a|l al l|e Veel|rg.
3. lr lerrs ol Arl|c|e 151 lo 153 ol l|e Arl|c|es ol Assoc|al|or ol l|e corpary, read W|l| Secl|or 25o ol l|e
Corpar|es Acl, 195o 0r. A.K.Ral| rel|res oy rolal|or |r l|e ersu|rg reel|rg ard oe|rg e||g|o|e ollers
||rse|l lor re-appo|rlrerl.
4. lr respecl ol appo|rlrerl/ re- appo|rlrerl ol l|e 0|reclors, a or|el resure corla|r|rg dela||s ol l|e
corcerred 0|reclors |s arrexed lo l||s rol|ce lor l|e |rlorral|or ol Veroers.
5. lr case ol jo|rl |o|ders allerd|rg l|e reel|rg ary suc| jo|rl |o|ders W|o |s ||g|er |r l|e order ol rares
|r l|e Reg|sler ol Veroers W||| oe erl|l|ed lo vole.
o. T|e Corpary |as rol|l|ed l|al l|e Reg|sler ol Veroers ard S|are Trarsler 6oo|s ol l|e Corpary W|||
rera|r c|osed lror 14
l|
Ju|y, 2012 lo 28
l|
Ju|y, 2012 (6ol| days |rc|us|ve) lor l|e purpose ol delerr|r|rg
l|e reroers e||g|o|e lor d|v|derd.
/. 0|v|derd or Equ|ly S|ares as recorrerded oy l|e 6oard ol 0|reclors, |l dec|ared al l|e reel|rg, W|||
oe payao|e lo l|ose reroers, W|ose rares appear or l|e Reg|sler ol Veroers ol l|e Corpary, aller
g|v|rg ellecl lo va||d s|are lrarslers |r p|ys|ca| lorr |odged W|l| l|e corpary al l|e c|ose ol ous|ress
|ours or 13
l|
Ju|y,2012 ard lo l|e oerel|c|a| oWrers as per l|e ||sls lurr|s|ed oy |S0L ard C0SL al l|e
c|ose ol ous|ress |ours or 13
l|
Ju|y. 2012
8. Re|evarl docurerls relerred lo |r l|e accorpary|rg |ol|ce are oper lor |rspecl|or oy l|e reroers al
l|e Reg|slered 0ll|ce ol l|e Corpary or a|| Wor||rg days dur|rg l|e ous|ress |ours ol l|e Corpary, up
lo l|e dale ol l|e Arrua| 0erera| Veel|rg.
9. Veroers are requesled lo prov|de l|e|r Fo||o |uroer a|org W|l| 6ar| Accourl |uroer, |are ard
Address ol l|e 6ar|/6rarc| lo V/s. L|r| lrl|re, Vuroa|, R&T Agerl ol l|e Corpary al C-13, Parra|a|
S||| V|||s Corpourd, L.6.S Varg, 6|ardup (wesl), Vuroa| ? 4000/8, |r respecl ol s|ares |e|d |r
p|ys|ca| rode ard lo l|e|r respecl|ve 0Ps lor s|ares |e|d |r 0eral rode lo erao|e l|e Corpary lo pay
l|e d|v|derd accord|rg|y.
10. Veroers |o|d|rg s|ares |r 0eral lorr are requesled lo |rl|rale |rred|ale|y ary c|arge |r l|e|r
address or oar| rardales lo l|e|r 0epos|lory Parl|c|parls W|l| W|or l|ey are ra|rla|r|rg l|e|r deral
|0TlCE |s |ereoy g|ver l|al l|e 24
l|
Arrua| 0erera| Veel|rg ol l|e Veroers ol
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted W||| oe |e|d al l|e Reg|slered
oll|ce ol l|e Corpary al Vudapadav, Kul|e|oor, P.0 V|a- Kal|pa||a, Varga|ore-5/5
030 or $aturday, 15
th
$eptember, 2012 at 4.00 p.m, lo lrarsacl, W|l| or W|l|oul
rod|l|cal|ors, as ray oe perr|ss|o|e, l|e lo||oW|rg ous|ress:
0P0|NAPY ßu$|NE$$
1. To rece|ve, cors|der ard adopl l|e aud|led 6a|arce S|eel as al 31
sl
Varc|,2012, l|e Slalererl ol Prol|l ard Loss lor l|e year erded or l|al dale
|rc|ud|rg Sc|edu|es l|erelo ard l|e reporls ol l|e 6oard ol 0|reclors, Aud|lors
ard Corplro||er ard Aud|lor 0erera| ol lrd|a l|ereor.
2. To corl|rr l|e payrerl ol 0|v|derd or Prelererce S|ares lor l|e F|rarc|a|
Year erded 31
sl
Varc|, 2012.
3. To dec|are 0|v|derd or Equ|ly S|ares lor l|e F|rarc|a| Year erded 31
sl
Varc|,
2012.
4. To appo|rl a 0|reclor |r p|ace ol 0r. A.K.Ral| W|o rel|res lror oll|ce oy rolal|or
ard oe|rg e||g|o|e ollers ||rse|l lor re-appo|rlrerl.
5. To l|x ard / or lo delerr|re l|e payrerl ol rerureral|or lo l|e Jo|rl Slalulory
Aud|lors ol l|e Corpary lo oe appo|rled oy l|e Corplro||er ard Aud|lor
0erera| ol lrd|a lor aud|l|rg l|e accourls ol l|e Corpary lor l|e F|rarc|a|
Year 2012-13.
$PE6|AL ßu$|NE$$
o. To appo|rl 0r. 0.C|ardrase||arar, W|o Was appo|rled as ar Add|l|ora|
0|reclor lror 10/01/2012, pursuarl lo Arl|c|e 140 ol l|e Corpary's Arl|c|es
ol Assoc|al|or ard W|o |o|ds oll|ce as Add|l|ora| 0|reclor urder l|e sa|d
arl|c|e ard secl|or 2o0 ol l|e Corpar|es Acl, 195o or|y up lo l|e dale ol l||s
reel|rg ard |r respecl ol W|or l|e Corpary |as rece|ved a rol|ce a|org
W|l| a depos|l ol ` 500/- pursuarl lo Secl|or 25/ ol l|e Corpar|es Acl, 195o
lror a reroer s|gr|ly|rg ||s |rlerl|or lo propose 0r. 0.C|ardrase||arar as a
card|dale lor l|e oll|ce ol 0|reclor ol l|e Corpary, ard |r l|al oe|a|l, lo cors|der
ard |l l|oug|l l|l, lo pass l|e lo||oW|rg reso|ul|or as ar ord|rary reso|ul|or:.
A0H N0T|6E
ßuy-back of
shares
¯PE$0LVE0 ThAT pursuarl lo l|e prov|s|ors ol Secl|or 25/, 2o0 ard
a|| ol|er app||cao|e prov|s|ors, |l ary, ol l|e Corpar|es Acl, 195o, 0r.
0.C|ardrase||arar oe ard |s |ereoy e|ecled ard appo|rled as a 0|reclor ol
l|eCorpary||ao|elorel|reoyrolal|or.¨
/. To cors|der ard, |l l|oug|l l|l, lo pass l|e lo||oW|rg reso|ul|or as a spec|a|
reso|ul|or:
¯PE$0LVE0 ThAT pursuarl lo Secl|or 31 ard ol|er app||cao|e prov|s|ors, |l
ary, ol l|e Corpar|es Acl, 195o, Arl|c|e 2/(1) ol Arl|c|es ol Assoc|al|or ol l|e
Corpary, oe ard |s |ereoy de|eled ard suosl|luled oy l|e lo||oW|rg:
¯|olW|l|slard|rg aryl||rg corla|red |r l|e Arl|c|es, l|e
Corpary s|a|| |ave l|e poWer lo purc|ase ary ol |ls oWr
s|ares or ol|er spec|l|ed secur|l|es as |l ray cors|der
recessary suojecl lo suc| ||r|ls upor suc| lerrs ard
cord|l|ors ard |r accordarce W|l| l|e prov|s|ors ol Secl|ors
//A, //6 ard ol|er app||cao|e prov|s|ors ol l|e Corpar|es
Acl, 195o lor l|e l|re oe|rg |r lorce ard l|e correspord|rg
prov|s|ors, ru|es, regu|al|ors ard gu|de||res or 6uy-oac| ol
Secur|l|es prescr|oed oy l|e Secur|l|es ard Exc|arge 6oard
ol lrd|a (SE6l) ard/or oy l|e Cerlra| 0overrrerl prov|ded
l|al,rol||rg |ere|r corla|red s|a|| oe deered lo allecl l|e
prov|s|ors ol Secl|ors 100 lo 104 ard Secl|or 402 ol l|e Acl
|rsolarasardlol|eexlerll|eyareapp||cao|e.¨
6y 0rder ol l|e 6oard
0|NE$h H|$hPA
3
rd
Ju|y, 2012 Corpary Secrelary
Peg|stered off|ce
Varga|ore Rel|rery ard Pelroc|er|ca|s L|r|led
Vudapadav,Kul|el|oorP.0V|aKal|pa||a,Varga|ore?5/5030
accourls. Veroers |o|d|rg s|ares |r p|ys|ca| lorr are requesled lo adv|se ary c|arge |r l|e|r address
|rred|ale|y lo l|e Corpary/ R&T Agerls, V/s L|r| lrl|re, Vuroa|.
11. T|e Secur|l|es ard Exc|arge 6oard ol lrd|a (SE6l) |as rardaled l|e suor|ss|or ol Perrarerl
Accourl |uroer (PA|) oy every parl|c|parl |r secur|l|es rar|el. Veroers |o|d|rg s|ares |r 0eral
lorr are, l|erelore, requesled lo suor|l l|e PA| lo l|e|r 0epos|lory Parl|c|parls W|l| W|or l|ey are
ra|rla|r|rg l|e|r deral accourls. Veroers |o|d|rg s|ares |r p|ys|ca| lorr car suor|l l|e|r PA| dela||s
lo l|e Corpary/ R&T Agerls, V/s L|r| lrl|re, Vuroa|.
12. Veroers |o|d|rg rore l|ar ore S|are Cerl|l|cale |r l|e sare rare urder d|llererl Ledger Fo||os are
requesled lo app|y lor corso||dal|or ol suc| lo||os ard serd l|e re|evarl s|are cerl|l|cale lo l|e sa|d
Reg|slrars.
13. T|e Corpary |as erlered |rlo ar Agreererl W|l| ool| l|e 0epos|lor|es v|z. |al|ora| Secur|l|es
0epos|lory L|r|led (|S0L) ard Cerlra| 0epos|lory Serv|ces (lrd|a) L|r|led (C0SL) lor cuslody ard
0eraler|a||zal|or ol secur|l|es. Veroers car ava|| ol l|e depos|lory lac|||l|es oy approac||rg ary ol l|e
0epos|lory Parl|c|parls ol |S0L or C0SL.
T|e Corpar|es (Arerdrerl) Acl, 1999 exlerded l|e ror|ral|or lac|||ly lo |rd|v|dua|s |o|d|rg s|ares
|r Corpar|es. Veroers |o|d|rg s|ares |r p|ys|ca| lorr ard |r parl|cu|ar W|ose |o|d|rg |s |r s|rg|e
rare, are requesled lo ava|| ol l|e aoove lac|||ly oy lurr|s||rg lo l|e Corpary l|e parl|cu|ars ol l|e|r
ror|ral|or. Veroers car doWr|oad prescr|oed |or|ral|or Forr al ¯lrveslor Serv|ces¨ ||r| ol l|e
Corpary Weos|le |.e. WWW.rrp|.co.|r.
14. Veroers are requesled lo reg|sler/ updale l|e|r era|| address W|l| l|e corpary oy serd|rg a Wr|ller
requesl du|y s|gred oy l|e reroer lo l|e V/s. L|r| lrl|re, Vuroa|, R&T Agerl ol l|e Corpary lor
rece|v|rg corrur|cal|or l|roug| l|e|r era|| address. Veroers ray a|so reg|sler / updale l|e|r era||
address W|l| l|e|r depos|lor|es.
15. T|e Corpary |as ||sled |ls s|ares al l|e 6oroay Sloc| Exc|arge L|r|led ard l|e |al|ora| Sloc|
Exc|arge ol lrd|a L|r|led. L|sl|rg lees |ave oeer pa|d lo ool| l|e Sloc| Exc|arges lor l|e l|rarc|a| year
2012-2013.
1o. T|e V|r|slry ol Corporale Alla|rs (v|de c|rcu|ar |os. 1//2011 ard 18/2011 daled Apr|| 21 ard Apr||
29, 2011 respecl|ve|y) |as urderla|er a '0reer |r|l|al|ve |r Corporale 0overrarce' ard a||oWed
corpar|es lo s|are docurerls W|l| |ls s|are|o|ders l|roug| e|eclror|c rode. Veroers are requesled
lo supporl l||s greer |r|l|al|ve oy reg|sler|rg/updal|rg l|e|r e-ra|| addresses, |r respecl ol s|ares |e|d
|r deraler|a||zed lorr W|l| l|e|r respecl|ve 0epos|lory Parl|c|parls ard |r respecl ol s|ares |e|d |r
p|ys|ca|lorr,W|l|l|eCorpary'sR&TAgerl,V/sL|r|lrl|re,Vuroa|.
45
Hanga|ore Pef|nery and Petrochem|ca|s L|m|ted
ANNEXuPE T0 ThE N0T|6E
EXPLANAT0PY $TATEHENT PuP$uANT T0 $E6T|0N 1I3[2) 0F ThE 60HPAN|E$ A6T, 195ê
T|e lo||oW|rg Exp|aralory Slalererl sels oul a|| raler|a| lacls re|al|rg lo l|e Spec|a| 6us|ress rerl|ored |r l|e accorpary|rg |ol|ce:
|tem No.ê
0r. 0.C|ardrase||arar, |or-oll|c|a| parl-l|re lrdeperderl 0|reclor or l|e 6oard ol 0|0C (l|e parerl Corpary) Was ror|raled oy 0|0C |r lerrs ol C|ause o.1 ol l|e 0u|de||res or Corporale 0overrarce ol Cerlra|
Puo||c Seclor Erlerpr|ses (CPSE) |ssued oy 0eparlrerl ol Puo||c Erlerpr|ses (0PE), 0overrrerl ol lrd|a. 0r 0. C|ardrase||arar W|o Was appo|rled as ar Add|l|ora| 0|reclor W.e.l. 10.01.2012 urder Arl|c|e 140 ol
Arl|c|es ol Assoc|al|or ol l|e Corpary read W|l| Secl|or 2o0 ol l|e Corpar|es Acl, 195o. 0r. 0.C|ardrase||arar |o|ds oll|ce up lo l|e dale ol l|e ersu|rg Arrua| 0erera| Veel|rg. T|e Corpary |as rece|ved a rol|ce
logel|er W|l| a depos|l ol Rs.500/- lror a reroer urder Secl|or 25/ ol l|e Corpar|es Acl, 195o, propos|rg ||s card|dalure lor l|e oll|ce ol 0|reclor. Accord|rg|y, l|e 0|reclors recorrerd l|e reso|ul|or sel oul |r l||s
|ler lor your approva|. |ore ol l|e 0|reclors, excepl 0r. 0.C|ardrase||arar |s corcerred or |rleresled |r l||s reso|ul|or.
|tem No. I
VRPL, oe|rg a ||sled Cerlra| Puo||c Seclor Erlerpr|se (CPSE) s|a|| ao|de oy l|e gu|de||res |ssued oy 0ovl. ol lrd|a lror l|re lo l|re. Pursuarl lo 0ll|ce Verorardur |o.0PE/14(24)/2011-F|r daled 2o
l|
Varc|, 2012
0eparlrerl ol Puo||c Erlerpr|se, 0overrrerl ol lrd|a, |as adv|sed a|| CPSEs lo arerd l|e|r Arl|c|es ol Assoc|al|or lo prov|de lor ouyoac| ol s|ares, |l suc| prov|s|or does rol ex|sl |r l|e|r Arl|c|es. S|rce l|e ex|sl|rg
Arl|c|es ol Assoc|al|or ol your Corpary does rol corla|r ary prov|s|ors re|al|rg lo ouyoac| ol s|ares, l|e Arl|c|es ol Assoc|al|or are proposed lo oe arerded lo prov|de lor ouyoac| ol s|ares. Accord|rg|y, l|e ex|sl|rg
Arl|c|e 2/(1) |s proposed lo oe de|eled ard s|a|| oe suosl|luled |r l|e rarrer sel oul |r |ler / ol l|e accorpary|rg |ol|ce.
Your 0|reclors recorrerd l|e Spec|a| Reso|ul|or lor l|e approva| ol l|e reroers. |ore ol l|e 0|reclors are |rleresled or corcerred |r l||s reso|ul|or.
Cop|es ol l|e Verorardur ard Arl|c|es ol Assoc|al|or ol l|e Corpary are ava||ao|e lor |rspecl|or oy l|e reroers dur|rg ous|ress |ours or ary Wor||rg day uplo l|e dale ol l|e Arrua| 0erera| Veel|rg.
0ETAlL$0FThE0lPECT0P$'$EEKlhCAPP0lhTHEhT/PEAPP0lhTHEhTATThE24
th
Ahh0ALCEhEPALHEETlhC
Name of 0|rector 0r.A.K.Path 0r. 0.6handrasekharam
0ale ol 6|rl| 09-01-1949 14-03-1948
0ale ol Appo|rlrerl/ Reappo|rlrerl 1o-02-2010 10-01-2012
Experl|se |r spec|l|c lurcl|ora| areas Preserl|y, 0r.A.K.Ral| |s C|a|rrar ard Prolessor ol Cerlre lor C0 & SR al lVl,
|eW 0e|||. le Was ar lAS 0ll|cer ard |as pul |r over 35 years ol serv|ce |r l|e
0overrrerl ol lrd|a. le |as served as a 0|reclor |r SAlL, Rl|L, |V0C, Kl0CL
ard VEC0| dur|rg ||s lerure as Add|l|ora| Secrelary ard F|rarc|a| Adv|sor |r
l|e V|r|slry ol Slee|, Secrelary, V|r|slry ol lR0, 0overrrerl ol lrd|a. le Was l|e
arc||lecloll|e|ardrar|o|||¯R|g|lolC|||drerloFreeardCorpu|soryEducal|or
6|||,2008¨.
0r. 0. C|ardrase||arar |s a Prolessor |r l|e 0eparlrerl ol Earl| Sc|erces, lrd|ar
lrsl|lule ol Tec|ro|ogy 6oroay. le oola|red ||s V.Sc. degree |r App||ed 0eo|ogy
|r 19/2 ard P|.0. (T|es|s: Teclor|sr ard Vo|car|sr ol l|e 0ecar Traps) |r 19/9.
le |s Wor||rg |r l|e l|e|ds ol vo|caro|ogy, grourdWaler po||ul|or ard geol|err|cs
over l|e pasl 30 years. w|l| ||s vasl exper|erce |r geol|err|cs, lrd|ar lrsl|lule
ol Tec|ro|ogy 6oroay ercouraged ||r lo |rcuoale V/s 0eoSyrd|cale PoWer
Pr|vale Lld., l|e or|y geol|erra| corpary |r lrd|a. le |s currerl|y l|e C|a|rrar
ol V/s 0eoSyrd|cale PoWer Pr|vale Lld, lrd|a. le |s a|so a reroer ol l|e Adv|sory
corr|llee ol l|e 0|0C Erergy Cerlre.
0ua||l|cal|or 0oclorale 0egree |r 6us|ress Adr|r|slral|or. V.Sc 19/2 llT 6oroay App||ed 0eo|ogy, P|.0 19/9 llT 6oroay (T|es|s: Teclor|sr
ard Vo|car|sr ol l|e 0eccar Traps)
L|sl ol ouls|de 0|reclors||ps |e|d. 1. Coa| lrd|a L|r|led 1. 0eosyrd|cale PoWer Pr|vale L|r|led
2. Va|arad| Coa|l|e|ds L|r|led 2. lrd|ar Rare Earl|s L|r|led
3. weslerr Coa|l|e|d L|r|led
4. 0|| ard |alura| 0as Corporal|or L|r|led
C|a|rrar/ Veroer ol l|e Corr|llees ol l|e
6oard ol 0|reclors ol l|e Corpary
1. Aud|l Corr|llee- Veroer 1. Aud|l Corr|llee- Veroer
2. S|are|o|ders/ |rveslor 0r|evarce Corr|llee- Veroer 2. S|are|o|ders/ lrveslor 0r|evarce Corr|llee - Veroer
3. lurar Resource Varagererl Corr|llee- C|a|rrar
4. Rerureral|or Corr|llee- C|a|rrar
C|a|rrar/ Veroer ol l|e Corr|llees ol 0|reclor
ol ol|er Corpar|es |r W||c| |e |s a 0|reclor
1. Coa| lrd|a L|r|led
Aud|l Corr|llee (Veroer)
1. 0|| ard |alura| 0as Corporal|or L|r|led
Aud|l Corr|llee (Veroer)
1. Va|arad| Coa|l|e|ds L|r|led - Aud|l Corr|llee (Veroer)
1. Coa| lrd|a L|r|led
Corporale 0overrarce Corr|llee (C|a|rrar)
4. Va|arad| Coa|l|e|ds L|r|led
Corporale 0overrarce Corr|llee (C|a|rrar)
5. Coa| lrd|a L|r|led
lrveslor 0r|evarce Corr|llee (C|a|rrar)
o. Va|arad| Coa|l|e|ds L|r|led
lurar Resource Varagererl Corr|llee (Veroer)
S|are|o|d|rg |r VRPL as or 31
sl
Varc|, 2012 ||| |||
A6$TPACT 0F TEPH$ 0F APP0lhTHEhT 0F $hPl P.P.0PA0hYA, 0lPECT0P (TEChhlCAL) Ah0 $hPl Vl$hh0 ACPAWAL, 0lPECT0P (FlhAhCE) 0F ThE
C0HPAhYP0P$0AhTT0$ECTl0hJ020FThEC0HPAhlE$ACT,195ô
a) Pay: lr l|e pay sca|e ol ` o5,000?/5,000.
o) 0.A: lr accordarce W|l| reW l0A sc|ere spe|l oul |r l|e 0epl. ol Puo||c Erlerpr|se, 0V daled 2o.11.2008 ard 02.04.2009.
c) Res|derl|a|accorrodal|or:Corpary'soWraccorrodal|or.
d) Corveyarce: Erl|l|ed lor l|e slall car lor pr|vale use up lo 1000 |r al 0e|||, C|erra|, Ko||ala, 6arga|ore, & lyderaoad ard /50 Kr a|| ol|er c|l|es.
e) 0l|ers: Leave, Corlr|oulory Prov|derl Furd, 0ralu|ly, producl|v|ly L|r|ed lrcerl|ves, Ved|ca| lac|||l|es, lrave| a||oWarce, Leave lrave| Corcess|or, 0|sao|||ly |eave, lWo C|uo reroers||p elc. |r accordarce W|l| VRPL ru|es.
l) Per|od: 5 years or l||| l|e superarrual|or or url|| lurl|er orders W||c|ever |s ear||er. Terr|ral|or W|l| 3 rorl|s rol|ce lror e|l|er s|de or or payrerl ol l|ree rorl|s sa|ary |r ||eu l|ereol.
4o
Annua| Peport 2011-12
F|VE YEAP PEPF0PHAN6E AT A 0LAN6E
[` |n H||||on)
2011-12 2010-11 2009-10 2008-09 200I-08
what we 0We
S|are Cap|la| 1/,5/2.5/ 1/,o18.50 1/,o18.50 1/,o18.31 1/,o18.21
Reserves 54,/19.3/ 4/,o/0.51 38,34/.02 29,o/5.o8 20,211.22
Net worth I2,291.94 ê5,289.01 55,9ê5.52 4I,293.99 3I,829.43
6orroW|rgs o1,831.10 15,5o9./5 1o,9o3.9/ 19,8o8.04 20,580.o8
0elerred Tax L|ao|||ly 4,531.40 3,4/1.o4 o,o02.22 5,o85.53 5,30/./9
T0TAL 138,ê54.44 84,330.40 I9,531.I1 I2,84I.5ê ê3,I1I.90
what we 0Wn
F|xed Assels (lrc|ud|rg Cap|la| wlP) 1o1,134.49 130,8/1.85 92,954.50 /8,390.04 /5,053.0/
Less : 0eprec|al|or 49,o44.32 45,301.3o 41,428.08 3/,oo1.38 33,988.12
111,490.1I 85,5I0.49 51,52ê.42 40,I28.êê 41,0ê4.95
lrveslrerls 422.80 948.25 1o,23o.o2 o,428.93 o,451.3o
|el Currerl Assels 2o,/41.4/ (2,188.34) 11,/o8.o/ 25,o89.9/ 1o,201.59
T0TAL 138,ê54.44 84,330.40 I9,531.I1 I2,84I.5ê ê3,I1I.90
|ncome
Sa|es (|el 0l Exc|se 0uly) 53/,o33.43 389,5oo./3 318,851./4 382,43/.41 325,/51.28
0l|er lrcore 3,543.09 2,1/1.83 2,915.12 1,8oo.41 /40./3
Exc|arge F|uclual|or (rel) : 0a|r - 184.48 3,903.9/ - 1,3/4.8o
lrcrease/ (0ecrease) |r sloc|s 1,502.05 8,152./1 2,958.// (5,9o8.5o) 1,048.01
T0TAL 542,êI8.5I 400,0I5.I5 328,ê29.ê0 3I8,335.2ê 328,914.88
Expend|ture
RaW Valer|a|s 512,3o/.50 3/2,193.3/ 302,308./4 345,12/.oo 300,840.43
0peral|rg experses 2,431.o1 2,2/0.15 1,o/9./o 1,280.2o 1,335.52
Sa|es Tax & Exc|se 0uly or Sloc|s (rel) (o0o.1o) o4/.// 894.23 559.01 2,242.82
Sa|ar|es & 0l|er Experses 1,o0o.42 1,845.35 958.95 1,130.30 1,248.1/
Exc|arge F|uclual|or (rel) : Loss o,482.20 - - o,104.9o -
Adr|r|slral|or & 0l|er Experses /89.4/ /8o.2/ 821.22 /58.83 oo2.04
lrleresl 2,0oo.// 1,043./3 1,154.98 1,434.51 1,4/5.89
0eprec|al|or 4,338./3 3,914.19 3,893.2/ 3,823.1o 3,//8.18
T0TAL 529,4Iê.54 382,I00.83 311,I11.15 3ê0,218.ê9 311,583.05
Prof|t ßefore Tax 13202.03 1I3I4.92 1ê918.45 1811ê.5I 1I331.83
Prov|s|or lor Taxal|or 4,11o.25 5,o08.59 5,/94.o8 o,191.13 4,o09.55
Prof|t After Tax 9085.I8 11Iêê.33 11123.II 11925.44 12I22.28
0|v|derd 1,/52.o0 2,103.13 2,103.13 2,103.49 2,103.49
0|v|derd 0|slr|oul|or Tax 284.32 341.18 349.30 35/.49 35/.49
0RV ($/oo|) 5.o0 5.9o 5.51 5.38 o.92
V|dd|e 0|sl|||ale Y|e|d (|r º) 53.00 53.09 54.23 52.39 52./9
Cap|la| Experd|lure 30,2o2.o4 39,89o./8 14,139.1o 2,813.92 933.09
HAN0AL0PE PEF|NEPY AN0 PETP06hEH|6AL$ L|H|TE0
Peg|stered 0ff|ce : Vudapadav, Kul|el|oor P.0. V|a. Kal|pa||a, Varga|ore - 5/5 030, Karrala|a.
ATTEN0AN6E $L|P
24
th
Annua| 0enera| Heet|ng
15
th
$eptember, 2012
Pegd. Fo||o No.
*0.P |d
No. of $hares he|d *6||ent |d
l cerl|ly l|al l ar a reg|slered S|are|o|der/ Proxy lor l|e Reg|slered S|are|o|der ol l|e Corpary.
l |ereoy record ry preserce al l|e 24
l|
Arrua| 0erera| Veel|rg ol l|e Corpary |e|d or $aturday, 15
th
$eptember, 2012 at 4.00 p.m al Vudapadav, Kul|el|oor P.0. V|a.
Kal|pa||a , Varga|ore - 5/5 030, Karrala|a.
Hembers'|Proxy'sName|nß|ockLetters Hembers'|Proxy's$|gnature
|ole : P|ease l||| l||s Allerdarce S||p ard lA|0 lT 0VER AT TlE E|TRA|CE 0F TlE VEETl|0 lALL
¯App||cao|e lor |rveslors |o|d|rg s|ares |r e|eclror|c lorr.
HAN0AL0PE PEF|NEPY AN0 PETP06hEH|6AL$ L|H|TE0
Peg|stered 0ff|ce : Vudapadav, Kul|el|oor P.0. V|a. Kal|pa||a, Varga|ore 5/5 030, Karrala|a.
F0PH 0F PP0XY
24
th
Annua| 0enera| Heet|ng
15
th
$eptember, 2012
Pegd. Fo||o No. *0.P |d
No. of $hares he|d *6||ent |d
l/we ol
oe|rg a Veroer /Veroers ol l|e aoove rared Corpary |ereoy appo|rl ol
or la|||rg ||r ol as
ry/our proxy lo vole lor re/us or ry/our oe|a|l al l|e TWerly Fourl| Arrua| 0erera| Veel|rg ol l|e Corpary lo o e |e|d or $aturday, 15
th
$eptember, 2012 at 4.00 p.m
ard al ary adjourrrerl l|ereol.
S|gred l||s day ol 2012. (S|gralure)
¯App||cao|e lor |rveslors |o|d|rg s|ares |r e|eclror|c lorr.
|ole: T||s lorr |r order lo oe ellecl|ve s|ou|d oe du|y slarped, corp|eled ard s|gred ard rusl oe depos|led al l|e Reg|slered 0ll|ce ol l|e Corpary, rol |ess l|ar 48 |ours
oelore l|e l|re ol corrercererl ol l|e reel|rg.
All|x ` 1
Reverue
Slarp
doc_662702912.pdf