There has been no movement in the Share Capital during the year.

The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each holder of equity share is entitled to one vote per share. ln the event of liquidation, the shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts. In proportion to their shareholding.

2. SHORT TERM BORROWINGS

* Working capital borrowing from Bank is secured by way of first equitable mortgage of Factory Land & Building by deposit of the title deeds and first change on all existing and future current assets/movable fixed assets and personal guarantees of all the Directors. There has been no continuing default as on the balance sheet date in repayment of any of the above borrowings & interest thereon.

3. FIXED ASSETS

Note : Gross Depreciation of Rs. 61,32,922.00 Includes Rs. 15,71,858.00 amount added on Revaluation.

4. NON-CURRENT INVESTMENTS

(Shares in Gujarat Steel Tubes Ltd. and BST Manufacturing Ltd. valuing Rs. 4355/- has been written off, during the year.)

5. (a) Contingent Liabilities not provided for:

Damages and interest under the Employees State Insurance Act, 1948 - Rs. 135617.00 (Previous Year Rs. 135617.00) being disputed and appeal there against pending for final disposal.

(b) Segment Information

(a) Primary Segment

The Company operations only in one business segment viz. iron and steel (Black & G.I) Tubes and PVC Pipes.

(b) Secondary Segment

The Company caters mainly to the needs of Indian Market. Export turnover during the year being NIL of the total turnover of the Company, there are no reportable geographical segment.

(c) Related Party Disclosure

(A) Name of Related parties and description of relationship

(A) Key Management Personal and their Relatives:

(a) Shri Ajay Kumar Jain

(b) Shri Vinay Kumar Jain

(c) Shri Amit Kumar Jain

(d) Smt. Ragini Jain

(B) Associate Companies/Firms

(a) M/s Premier Power & Steels (P) Ltd.

(b) M/s Premier Alloys Ltd.

(c) M/s Premier Ispat Ltd.

(d) M/s Premier Metcast (P) Ltd.

(e) M/s Mahabir Securities (P) Ltd.

(d) In the opinion of the Board, the current assets, Loans and Advances have a value on realisation in the ordinary course of business atleast equal to the amounts at which they are stated in the Balance Sheet.

(e) The accounts of certain Debtors, Creditors and Advances are subject to confirmation/reconciliation, if any.

(f) There are no dues to Micro, Small & Medium Enterprises(MSME)as at the Balance Sheet date and no interest has been paid to any such parties. This is based on the information on such parties having been identified on the basis of information available with the Company and relied upon by the Auditors. Hence "Trade payables-other than acceptances" in Note 7 represent payable to creditors other than MSME.

(g) Previous Year's figures have been regrouped wherever necessary to make them comparable.