b) Rights/preferences/restrictions attached to equity shares
The Company has only one class of equity shares having a par value of ? 10 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian Rupees.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts, if any. The distribution will be in proportion to the number of equity shares held by the shareholders.
Nature and purpose of Reserves Securities Premium :
Securities Premium is used to record the premium on issue of shares and utilised in accordance with the provisions of the Companies Act, 2013.
Retained Earnings :
Retained Earnings are the profits of the Company earned till date net of appropriation Revaluation Reserve :
Revaluation Reserve is used to record the gain / loss on Revaluation of Assets and Liabilities and utilized in accordance with the provision of the Companies Act, 2013.
Other Comprehensive Income :
The effect of the remeasurement changes (comprising actuarial gains and losses) to the asset ceiling (if applicable) and the return on plan assets (excluding interest), is reflected in the balance sheet with a charge or credit recognised in other comprehensive income in the period in which they occur. Other comprehensive income (OCI) includes revenues, expenses, gains, and losses that have yet to be realized and are excluded from net income on an income statement. OCI represents the balance between net income and comprehensive income.
| Note 30. Earnings per equity share
The Company's Earnings Per Share ('EPS') is determined based on the net profit attributable to the shareholders' . Basic earnings per share is computed using the weighted average number of shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of common and dilutive common equivalent shares outstanding during the period including share options, except where the result would be anti-dilutive.
(Amount in Rs)
Descriptions As at 31st March 2025 As at 31st March, 2024
Net Profit / (Loss) attributable to equity shareholders
Profit / (Loss) after tax ('in Rs.) 5,28,08,361.04 5,02,98,961.93
Nominal value of equity share ('in Rs) 1000 1000
WeightedoQerage number of equity shares for basic & ('in Nos.) 1,54,94,608 1,26,56,175
Diluted EPS
Basic & Diluted earnings per share (’in Rs.) 3.41 3.97
| Note 31. Employee Benefits | | | |
Defined contribution plans Provident fund
The contributions to the Provident Fund and Family Pension Fund of eligible employees are made to a Government administered Provident Fund i.e The Employees' Provident Fund amd Miscellaneous Provision Act 1952 and there are no further obligations beyond making such contribution.
Defined benefit plans Gratuity
The Company participates in the Employees’ Group Gratuity-cum-Life Assurance Scheme of Life Insurance Corporation of India, a funded defined benefit plan for qualifying employees. Gratuity is payable to all eligible employees on death or on separation / termination in terms of the provisions of the Payment of Gratuity Act, 1972 (as amended from timt to time), or as per the Company’s scheme whichever is more beneficial to the employees.
The liability for the Defined Benefit Plan is provided on the basis of a valuation, using the Projected Unit Credit Method, as at the Balance Sheet date, carried out by an independent actuary.
Level 1 : Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments, mutual funds that have quoted price. The fair value of all equity instruments which are traded in the stock exchanges is valued using the closing price as at the reporting period. The mutual funds are valued using the closing NAV.
Level 2 : The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is inlcuded in Level 2.
Level 3 : If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.
(i) Short-term financial assets and liabilities are stated at carrying value which is approximately equal to their fair value.
(ii) Fair value of borrowings which have a quoted market price in an active market is based on its market price which is categorised as level 1. Fair value of borrowings which do not have an active market or are unquoted is estimated by discounting expected future cash flows using a discount rate equivalent to the risk-free rate of return adjusted for credit spread considered by lenders for instruments of similar maturities which is categorised as level 2 in the fair value hierarchy.
(iii) Management uses its bestjudgement in estimating the fairvalue of its financial instruments. However, there are inherent limitations in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates presented above are not necessarily indicative of the amounts that the Company could have realised or paid in sale transactions as of respective dates. As such, fair value of financial instruments subsequent to the reporting dates may be different from the amounts reported at each reporting date.
(iv) There have been no transfers between Level 1 and Level 2 for the years ended 31st March 2025 and 31st March 2024.
| Note 33. Financial risk management objectives and policies |
The Company's principal financial liabilities comprise loans and borrowings, trade and other payables. The main purpose of these financial liabilities is to finance the Company's operations and to support its operations. The Company's financial assets include trade and other receivables, and cash & cash equivalents that derive directly from its operations.
The Company is exposed to market risk, credit risk and liquidity risk. The company's senior management oversees the management of these risks. Under the management of the company, the Company have the appropriate financial risk governance framework, appropriate policies and procedure that identifies, measure and manages the financial risk in accordance with the risk objectives. The Board of Directors reviews and agrees policies for managing each risk, which are summarised as below:
(A) Market risk
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, currency risk and other price risks. Financial instruments affected by market risk include loans and borrowings, deposits and payables/receivables in domestic / foreign currencies. a)Interest rate risk
The Company is capital intensive and is exposed to interest rate risks. The Company's projects are funded to a certain extent by debt and any increase in interest expense may have an adverse effect on our results of operations and financial condition. The Company current debt facilities carry interest at variable rates with the provision for periodic reset of interest rates. As of March 31, 2025, majority of the Company's indebtedness was subject to variable/fixed interest rates.
b) Interest rate risk
The Company is capital intensive and is exposed to interest rate risks. The Company's projects are funded to a certain extent by debt and any increase in interest expense may have an adverse effect on our results of operations and financial condition. The Company current debt facilities carry interest at variable rates with the provision for periodic reset of interest rates. As of March 31, 2025, majority of the Company's indebtedness was subject to variable/fixed interest rates.
c) Credit risk
Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activites, including loans to related parties, deposits with banks and financial institutions, foreign exchange transactions and other financial instruments.
(i) Trade receivables
Customer credit risk is managed by each business location subject to the Company's established policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed and individual credit limits are defined in accordance with the assessment both in terms of number of days and amount.
An impairment analysis is performed at each reporting date on an individual basis for major clients. In addtion, a large number of minor receivables are grouped into homogenous groups and assessed for impairment collectively. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets. The Company does not hold collateral as security.
(ii) Cash and Cash Equivalents
Credit risk from balances with banks and financial institutions is managed in accordance with the Company's policy. Investment of surplus funds are made only with approved counterparties and within credit limits assigned to each counterparty. The Company's maximum exposure to credit risk for the components of the balance sheet at 31st March 2025 and 31st March 2024 is the carrying amount as illustrated in Note 51.
(B) Liquidity risk
Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation.
The Company manages liquidity risk by maintaining sufficient cash and cash equivalents by having access to funding through an adequate amount of committed credit lines. Management regularly monitors the position of cash and cash equivalents visa-vis projections. Assessment of maturity profiles of financial assets and financial liabilities including debt financing plans and maintenance of Balance Sheet liquidity ratios are considered while reviewing the liquidity position.
Reason for Difference:
1) Differece in current asset is due to estimation of work-in-progress at the site at the time of preparation and submission of statement and finalisation of financials which were not required to be audited.The difference would have not been occured incase there statement have been audited.
2) Difference in Trade Receivables was due to adjustment of statutory deductions and retention amount deducted by the client which has been taken on records later on in the Books Of Accounts .Post adjustment as above, variation is being reported.
| Note 39. Segment Reporting :
As the revenue, results and assets are no reportable segments of the company. Therefore, disclosure of Separate segment reporting under Ind-As 108 is not required.
iNote 45
As per the standard settlement cycle, the sale proceeds from mutual fund transactions are generally credited on a T 1 basis.
Units of Nippon India Mutual Fund, UTI Mutual Fund and Tata Mutual Fund amounting to Rs. 1,00,000/- each was sold on
28th March, 2025 but the credit could not be received on the next day due to 29th and 30th March falling on the weekend and
31st March being a holiday. Consequently, the sale proceeds were credited after 31st March, 2025, i.e., in the next financial
year (FY 2025-26). However, since the transaction pertains to FY 2024-25, the corresponding amount will be shown as 'Other
Receivables' under "Other Current Assets in the books of accounts for FY 2024-25.
|Note: 46 Contingent Liabilities |
| particulars |
Office of the Commissioner of Service Tax raised a aggregate demand of Rs. 82,40,063/- vide its order dated- 23/12/2015 along with interest thereon and also imposed the penalty of Rs. 82,50,063/- against the Company for the FY 2008-09
1 to FY 2012-13. Being aggrieved by the demand raised by the Service Tax Department, the Company has preferred an appeal before the CESTAT and the same is pending till date. Against this statutory liability, the company has deposited Rs 8,30,000/- against protest and the company is very confident to get a relief from this demand by CESTAt.
The Company purchased material from the Supplier namely Kinlong Hardware India Private Ltd, in the month of September, 2021 of worth Rs. 34,47,231/- which was found to be of inferior quality and rejected. The Supplier was asked
2 to take back the material from the project site. The Supplier didn’t removed the materil from the project site and claimed for the payment in respect of the material supplied and thereafter filed a suit against the Company before the Commercial Court, Bengaluru for their payment in respect of material supplied along with interest thereon. The suit is in progress before the said Court till date.
‘Sub Notes:
The Company has reviewed all its pending litigations and proceedings and has adequately provided for where provisions
i) are required and disclosed as contingent liabilities where applicable, in its financial statements. The Company does not expect the outcome of these proceedings to have a materially adverse effect on its financial results.
It is not practicable for the Company to estimate the timings of cash outflows, if any, in respect of the above pending
ii) resolution of the respective proceedings as it is determinable only on receipt of judgements/decisions pending with various forums/authorities.
147 | Capital management |
The primary objective of the Company's capital management is to maximise the shareholder value. For the purpose of the Company's capital management, capital includes issued equity capital, share premium and all other equity reserves attributable to the equity holders.
Debt is defined as long-term borrowings, current maturities of long-term borrowings, short-term borrowings and interest accrued thereon (excluding financial guarantee contracts) less Cash and Cash Equivalents.
Capital includes equity attributable to the equity holders to ensure that it maintains an efficient capital structure and healthy capital ratios in order to support its business and maximise shareholder value. The Company manages its capital structure and makes adjustments to it, in light of changes in economic conditions or its business requirements. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. No changes were made in the objectives, policies or processes during the period ended 31 March 2025, and March 31, 2024.
|