| Notes |
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|
1 |
The above results have been subjected to a
"Limited Review" by the Auditors of the Company as per
the listing agreements with the Stock
Exchanges and have been taken on record by the Board of
Directors at their meeting held on 24th July, 2003.
(AS 17) on "Segment Reporting".
|
| 2 |
The
Company is engaged in the business of flat steel products and
there are no separate reportable segments as per Accounting
Standard
|
| 3 |
In
terms of amended clause 41 of the listing agreement, details of
number of investor complaints for the quarter ended 30 June, 2003: Beginning - Nil,
received - 564, disposed off - 504, pending - 60, since disposed
off.
|
| 4 |
The Board has proposed a preferential
allotment of 12,25,000 equity shares of Rs.10/- each at a price of
Rs.121/- per share (2.8% of the
Equity Capital of the Company - post issue) to Citicorp Banking
Corporation, Bahrain, (CBC), a FII registered with SEBI.
This is subject
to, inter alia, the approval of the Shareholders at the
Extraordinary General Meeting to be held on 2nd August, 2003, the
negotiation and execution of definitive
agreement with CBC and fulfilment of the conditions precedent
contained therein. It is proposed that while CBC holds
atleast 4.8% of the Company's Equity Capital, CBC shall be
entitled to various rights which include the right to
appoint its nominee on the Board of the Company.
|
| 5 |
The
Company has entered into an agreement to take and operate on a conducting basis, the Mild Steel Cold Rolling (CR) manufacturing facility
of 1,50,000 tpa capacity of Jindal Steel & Alloys Ltd (JSAL)
from June 1, 2003.
|
| 6 |
The
Board has approved in principle the restructuring of the Company's
business with an objective to achieve focused steel
business operations.
|
| 7 |
Previous
periods figures have been re-grouped wherever considered
necessary.
|
| 8 |
During
the quarter, there is net long term debt reduction of Rs. 76.39
crores.
|
|
|
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For JINDAL IRON & STEEL CO. LTD |
|
Mumbai
Dated : 24th July,
2003
|
RAMAN MADHOK
JT MANAGING
DIRECTOR & CEO
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|
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