Professional Documents
Culture Documents
Contents
Corporate Information
Notice to Shareholders
16
Boards' Report
18
47
60
Balance Sheet
62
63
64
66
98
Balance Sheet
102
103
104
105
BOARD OF DIRECTORS
Executive Chairman
Managing Director
Whole-Time Director
Whole-Time Director
Independent Director
Independent Director
Independent Director
Independent Director
Independent Director
COMPANY SECRETARY
AUDITORS
REGISTERED OFFICE
BANKERS
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:
3. Bank of Maharashtra
4. Canara Bank
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7. Indian Bank
NOTICE TO SHAREHOLDERS
NOTICE is hereby given that the Twenty Second (22nd) Annual
General Meeting (AGM) of the members of Ashoka Buildcon
Limited H J<L*+";"*";
p.m. at % O,<:Q#&U
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SPECIAL BUSINESSES
5.
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such terms and conditions and at the remuneration as
mentioned in the explanatory statement forming part of
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amend or revise the remuneration within the maximum
ceiling and the terms and conditions of the appointment in
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agreed to between the Board of Directors and Mr. Ashok
M. Katariya.
ORDINARY BUSINESS:
1.
*
3.
4.
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resolution as an Ordinary Resolution:
6.
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resolution as an Ordinary Resolution:
RESOLVED THAT pursuant to the provisions of
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time being in force) the consent of the Members of the
Company be and is hereby accorded to the re-appointment
of Mr. Satish D. Parakh as Managing Director of the
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remuneration as mentioned in the explanatory statement
forming part of this notice with liberty to the Board of
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the maximum ceiling and the terms and conditions of the
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conditions and at the remuneration as mentioned in the
explanatory statement forming part of this notice with
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the remuneration within the maximum ceiling and the
terms and conditions of the appointment in accordance
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between the Board of Directors and Mr. Milapraj Bhansali.
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resolution as an Ordinary Resolution:
RESOLVED THAT pursuant to the provisions of
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read with Companies (Appointment and Remuneration
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time being in force) the consent of the Members of the
Company be and is hereby accorded to the re-appointment
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remuneration as mentioned in the explanatory statement
forming part of this notice with liberty to the Board of
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the maximum ceiling and the terms and conditions of the
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and as may be agreed to between the Board of Directors
FURTHER RESOLVED THAT for the purpose of
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resolution as an Ordinary Resolution:
RESOLVED THAT pursuant to the provisions of
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read with Companies (Appointment and Remuneration
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resolution as an Ordinary Resolution:
RESOLVED THAT pursuant to the provisions of
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No. 000334) be and are hereby appointed as Cost Auditors
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resolution as a Special ResolutionX
RESOLVED THAT< X
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amendments thereto;
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2013 (Act) and Rules issued thereunder (including
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enactments thereof); and
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Company be and is hereby accorded to the following
material related party transactions / contracts /
arrangements entered into by the Company with
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Sr. Name of Related Party
No.
SUBSIDIARIES
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Amount
Rs. (Cr.)
54.00
56.00
329.00
405.00
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Sd/(ASHOK M. KATARIYA)
Chairman
(DIN: 00112240)
NOTES X
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TO APPOINT A PROXY TO ATTEND AND ON A
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COMPANY. A person can act as a proxy on behalf of not
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not more than ten (10) per cent of the total paid-up share
capital of the Company.
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MEETING.
3.
Explanatory statement pursuant to Section 102 of the
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annexed and forms part of this notice.
4.
Corporate Members intending to send their authorized
representative to attend the meeting are requested to send
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to attend and vote on their behalf at the meeting.
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for the commencement of the meeting and ending with the
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inspect the proxies lodged at any time during the business
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days of notice in writing is given to the Company.
6.
Members/Proxy holders / authorized representatives
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The Register of Directors and Key Managerial Persons
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by the Members at the AGM.
8.
The Register of Contracts or Arrangements in which
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by the members at the AGM.
9.
Members holding shares in physical form are requested
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number. Members holding shares in electronic form are
requested to intimate about change of address or bank
particulars to their respective Depository Participant and
not to the Company. The Members are encouraged to
utilize the Electronic Clearing System (ECS) for receiving
dividends.
10.
17.
22.
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Ashoka
Infrastructure
Ashoka-DSC Katni Bypass
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Audit Committee - Chairman
Ashoka Technologies Private
Ashoka Belgaum Dharwad
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Ashoka Sambalpur Baragarh
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None of the Directors are
related to each other.
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Ashoka Group since 1982 when he
joined the Company as Junior Engineer.
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executed various industrial/residential
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Projects in Road infrastructure on BOT
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infrastructure sector and Companys
working bring immense value in
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rose to the position of the Managing
Director of the Company in the year
2006. The Company has then ventured
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Ashoka-DSC Katni Bypass Road
Audit Committee - Member
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Ashoka Dhankuni Kharagpur
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Brief Resume of the Director
including nature of expertise in O,VY
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bachelor's degree in civil engineering
and also obtained F.I.E.- Civil
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the year 1989. Prior to joining the
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has worked with Tata Consulting
Engineers for 4 years. Presently
he heads the execution of Ashoka
Buildcon's nationwide projects from
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is also a member in the governing
body of National Safety Council.
No. of shares held in the Company )[![+"
Directorships and Committee # $Q Y
memberships held in other Ashoka Dhankuni Kharagpur
Companies (Excluding alternate = H
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companies and companies under
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and Stakeholders Relationship
Committee have been included).
Audit Committee - Chairman
Inter se relationship between the None of the Directors are related to
Directors
each other.
INSTRUCTIONS FOR E-VOTING
The instructions for shareholders voting electronically are
as under:
(i) The voting period begins on September 6, 2015 at 9.00
a.m. and ends on September 8, 2015 at 5.00 p.m. During
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the cut-off date (record date) of September 2, 2015, may
cast their vote electronically. The e-voting module shall be
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(ii) The shareholders should log on to the e-voting website
www.evotingindia.com.
(iii) Click on Shareholders.
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general meeting.
Mr. Ashok M. Katariya had been re-appointed as the Whole=^V &
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the tenure as the Managing Director came to an end on March
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Company along with entering into new areas of operations
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would be in the interest of the Company to re-appoint him as the
Managing Director of the Company.
C) Re-appointment of Mr. Sanjay Londhe as Whole-time
Director:
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the tenure as the Whole-time Director came to an end on March
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Keeping in view the vast experience in execution of Infrastructure Projects and he has been involved in day-to-day operations of the
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D) Revision of the remuneration to Mr. Milapraj Bhansali as Whole-time Director:
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Keeping in view the vast experience as a CEO in manufacturing industry and expertise in procurement and commercial negotiations
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remuneration.
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Name of the Director Mr. Ashok Katariya
Mr. Satish Parakh Mr. Sanjay P. Londhe Mr. Milapraj Bhansali
Designation
Chairman & WholeManaging
Whole-time Director Whole-time Director
Time Director
Director
I. Remuneration
a) Basic Salary
Not exceeding
Not exceeding
Not exceeding
Not exceeding `)")++++Q
`*;+)[+++Q< `*;+)[+++Q< `"+)[+*[Q<
per annum
annum
annum
b) Bonus / Ex-gratia
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Nil
Nil
c) Special Allowance 12% of the basic salary Nil
Nil
Nil
d) Commission
@ 0.35% of the Net
+Z;
@ 0.50% of the Net
@0.50% of the
`Z++++++Q `Z++++++QHVY
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whichever is lower
lower
whichever is lower
whichever is lower
e) Performance Bonus Nil
Nil
Not exceeding
Nil
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II. Perquisites
i. Medical Expense * not exceeding
not exceeding
not exceeding
Nil
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`*L+)++Q<
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annum
ii. Leave Travel
not exceeding
not exceeding
not exceeding
Nil
Expenses #
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annum
iii. Livery Expense /
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Nil
Allowance
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/ attire expenses not
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exceeding Rs. 145,200/- expenses not
not exceeding
exceeding Rs.
per annum
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145,200/- per
annum
f) House Rent
Nil
Nil
40% of Basic Salary
60% of Basic Salary
Allowance
g) Education
Nil
Nil
Nil
Not exceeding `
Allowance
*";!*;Q<
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Nil
i) Contribution to PF
12% of Basic
Salary
Nil
not exceeding `
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12% of Basic Salary
Nil
12% of Basic Salary
* Medical Expenses:
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for himself and family.
# Leave Travel Expenses:
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Contribution to Provident Fund, Superannuation and Annuity Fund
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Leave Encashment
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considered as perquisite.
Provision for car, Communication facilities
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business purpose would not be considered as perquisites.
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boarding and lodging and all other incidental expenses in connection with and for the business of Company in India and abroad will
be allowed and will not be deemed/treated as a perquisite.
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Nomination and Remuneration Committee and the approval of the Board of Directors of the Company.
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varied by the Board of Directors in the light of and in conformity of the Companies Act and or/ the rules and regulations made
thereunder and/or such guidelines as may be announced by Central Government from time to time.
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working days from the date hereof up to the date of the AGM.
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working days from the date hereof up to the date of the AGM.
Item No. 10 :
The Securities and Exchange Board of India (SEBI) vide its
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of the said Circular had advised companies to seek approval of
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regardless of whether a price is charged and shall require prior
approval of the Audit Committee and all Material Related Party
Transactions shall require approval of the Members by a Special
Resolution. Material Transaction means any transaction
(entered into either individually or taken together with previous
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bank guarantees to secure the loans granted to its Subsidiaries
and/or Associates in the ordinary course of its business being
in the infrastructure sector. As per SEBI Circular dated April
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above) as business obligation in the ordinary course of business
and at arms length. The provisions of Section 186 as regards
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securing loans availed by its subsidiaries / associates do not
apply to the Company since it provides Infrastructure facilities.
The Board recommends the resolution at Item No. 10 for
approval by the members as a special resolution.
None of the Directors and Key Managerial Persons and their
relatives are concerned or interested in the resolution except
to the extent of their shareholding or directorships in such
14
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Name of the Company
Subsidiary Company
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in the Company
of the Common
Director(s) and
their relatives
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Ashoka Belgaum Dharwad Tollway # $z
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Sundanda Dandekar
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Nil
Nil
Nil
Nil
Nil
Nil
Satish Parakh
Ashish Kataria
Gyanchand Daga
Sharad Abhyankar
Nil
Nil
Paresh Mehta
Nil
Satish Parakh
-
Nil
Nil
Paresh Mehta
-
Nil
Nil
Joint Venture
Abhijeet Ashoka Infrastructure
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Nil
Paresh Mehta
Nil
Nil
Paresh Mehta
Nil
Nil
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of the Company between 11.00 a.m. and 1.00 p.m. on all working days from the date hereof up to the date of the AGM.
Place : Mumbai
Date : 30.07.2015
(ASHOK M. KATARIYA)
Chairman
(DIN: 00112240)
15
Annexure A
I.
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Name
Mr. Ashok Katariya
Mr. Ashish Katariya
Mrs. Ashta Katariya
Mrs. Asha Katariya
Mr. Ayush Katariya
Ms. Shweta Katariya
# $Y
# $/H^Y <Y
# $/$Y
# $z]%>_
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II.
Percentage (%)
7.00
6.67
4.90
4.23
1.02
0.68
1.17
0.03
0.01
3.30
5.94
34.95
= &
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Name
Mr. Satish Parakh
Mrs. Shobha Parakh
Mr. Aditya Parakh
Ms. Snehal Manjit Khatri
# $/H^Y <Y
# $Y
$]%>_
Percentage (%)
6.31
5.66
2.81
0.56
0.03
1.17
5.76
22.30
Percentage (%)
0.25
0.00
0.00
0.03
0.28
16
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SUCCESSFUL PROJECT EXECUTION
Your Company has a proven track record of successful
completion of Projects under both DBFOT and EPC basis. Your
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Operate and Transfer (DBFOT) Basis.
KEY EVENTS DURING THE YEAR
Company has substantially completed the construction of the
Dhankuni Kharagpur Road Project and Sambalpur Baragarh
Road Project and these projects were capitalized during the
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toll collection has started. The Company has executed Power
Transmission and Distribution Projects worth ` 558 Crore.
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invested ` 384 Crore during the year in Companys subsidiary
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` 784 Crore against ` 800 Crore to be invested by them.
ORDER BOOK
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INNOVATION, QUALITY AND ENVIRONMENT
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construction practices as well as ensuring high quality in its
entire works. Your Company is also conscious of the threat
posed by global warming to our planet and therefore takes its
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compliant Company.
RESOURCES AND LIQUIDITY
Despite high interest costs the Company has managed to ensure
that funds are available to meet operational and strategic needs
like capital investments and has tried to arbitrage on interest
costs by accessing funds across various products and maturity
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and Jaora Road Project. The Company also got approval for
premium deferment for its BOT Belgaum Dharwad Road
Project. Company also raised Non-Convertible Debentures to
the tune of `";+ &
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CHALLENGES RISKS & CONCERNS
The Companys business is highly dependent on road and
17
18
BOARDS REPORT
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(` In Lacs)
Standalone
Consolidated
2014 -2015 2013 -2014 2014 -2015 2013 -2014
*+*;"*;! "!+)+)*! 234.874.58 "*);LZ;
*)L"LZ[
"L!![)
**LL"Z;
*[Z*"
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")*"[!+
*)*+;
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")*[
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")*[
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*Z!LZ+
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8.98
6.55
5.15
6.17
8.96
6.51
5.14
6.14
d)
_
V_
e)
Authority /
Concessionaire
Project
Cost
(` In
Crore)
South Bihar Power 136.50
Distribution
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North Bihar Power 730.67
Distribution
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102.61
Maharashtra
State Electricity
Distribution
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219.40
Ministry of
Road Transport
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Government of
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Awarded by
Construction Week
Construction Week
World Wide Achievers
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Institute of Engineers
of India
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Construction World
Global
National Award
for Real Estate and
Infrastructure
CMO Asia
CAPITAL EXPENDITURE
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Assets stood at ` "ZZ;*)
,
intangible assets at `"*[*"[; ]V&[!)*!"
%#:<<_# &
` 909.22 Crore.
FUTURE OUTLOOK
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growth opportunities that the sector offers. We believe we are
well positioned to capitalize on these opportunities on the by
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robust balance sheet.
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Projects would focus on BOT and EPC projects in Roads and
%&HV Your Company is also looking forward to take
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also eyeing other infra spaces like irrigation and railways. The
Company will also strengthen its skills in executing EPC Power
distribution projects and would selectively bid for more number
of such projects.
SHARE CAPITAL
The paid up Equity Share capital of the Company as at March
Z" *+"; ` 79.31 Crore. During the year under
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Employee Stock Option Scheme. Further the Company has
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shares of ` 5/- each under Employee Stock Option Scheme after
the balance sheet date.
NON-CONVERTIBLE DEBENTURES
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Non-Convertible debentures aggregating ` 150 Crore.
BOARD COMMITTEES :
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of reference etc. are given in the Corporate Governance Report.
VIGIL MECHANISM:
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Directors have formulated a Whistle Blower Policy which is
in compliance with the provisions of Section 177 (10) of the
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The policy has been annexed to this report as Annexure VIII.
The Policy provides for a framework and process whereby
concerns can be raised by its employees against any kind of
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practice being adopted against them. More details on the vigil
mechanism and the Whistle Blower Policy of your Company have
been outlined in the Corporate Governance Report which forms
19
20
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NUMBER OF MEETINGS OF THE BOARD AND AUDIT
COMMITTEE
The details of the number of Board and Audit Committee
meetings of your Company are set out in the Corporate
Governance Report which forms part of this Report.
DECLARATION OF INDEPENDENCE
Your Company has received declarations from all the
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independence as prescribed under the provisions of Companies
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SECRETARIAL AUDITORS
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A.
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B.
Balance o/s as
at March 31,
2015
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2400.00
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21.53
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5.80
C.
The Company has not received any complaint during the year
under said Policy.
(Rs. in Lacs.)
Name of entity
Amount of
Guarantee
given (Rs.)
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Ashoka Belgaum Dharwad Tollway
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Abhijeet Ashoka Infrastructure Private
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RISK MANAGEMENT
Your Company recognizes that risk is an integral part of
business and is committed to managing the risks in a proactive
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Policy in place. There are no risks which in the opinion of the
Board affect the Company operations on going concern basis.
The Board periodically reviews the risks and measures are taken
for mitigation.
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no material changes and commitments which can affect the
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CONSERVATION OF ENERGY, TECHNOLOGY
ABSORPTION, FOREIGN EXCHANGE EARNINGS
AND OUTGO
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(A) Conservation of energy
The Company is not covered by the Schedule of Industries
which requires furnishing of information in Form A of
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and in Form B of Technology Absorption.
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Details of the shares issued under Employee Stock Option Plan
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Stock Option Scheme and Employees Stock Purchase Scheme)
{"LLL Annexure IX to this Report.
GENERAL
Your Directors state that no disclosure or reporting is required in
respect of the following items as there were no transactions on
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Corporate Governance
The report on Corporate Governance as stipulated under
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conditions of Corporate Governance is attached to the report.
Employee Stock Option Scheme (ESOP)
The Nomination and Remuneration Committee of the Board of
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the Employees Stock Option Scheme of the Company in
accordance with the applicable SEBI Guidelines. The issue of
equity shares pursuant to exercise of options does not affect the
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is made at the pre-determined exercise price plus taxes as
applicable. No employee has been issued share options during
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the Company. No fresh options have been granted during the
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Company that the Scheme has been implemented in accordance
with the SEBI Guidelines and the resolution passed by the
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issued to employees under the ESOP are either exercised by
them directly or through their appointed proxy.
23
Acknowledgement
Your Directors take this opportunity to thank the Ministry
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various States where we have operations and other Government
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(Ashok M. Katariya)
Chairman
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31.03.2015
31.03.2015
{= H
100.00
100.00
100.00
99.89
100.00
100.00
51.00
100.00
51.00
66.00
33.66
33.66
66.00
66.00
66.00
%
Shareholding
Proposed
Dividend
(Rs.)
-
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194.96
[+)Z"
(Ashok M. Katariya)
Chairman
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50%
50%
26%
23%
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due to percentage (%) of share V <V&
due to percentage (%) of
due to percentage (%) of
capital.
(%) of share capital.
share capital.
share capital.
Not applicable
Not applicable
Not applicable
Not applicable
1
2
Sr.
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Sr.
No.
24
ANNUAL REPORT 2014-2015
3
4
6
7
18
19
20
21
22
23
24
VX
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12
13
14
15
16
17
# $:
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Subsidiary
Associate
Associate
Associate
Associate
Enterprises in which Key
Management Or Directors
Y&
VV
Enterprises in which Key
Management Or Directors
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VV
Managing Director
Relativies of Directors
&
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Rent Received
&
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EPC for Major Maintenance -1083.02
&
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EPC for Major Maintenance - 1224.77
&
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EPC Contract for the Project - 63995.43
Repayable on Demand
< V*+"!
Repayable on Demand
< *+"[
Repayable on Demand
< VZ"*+";
07.02.2014
07.02.2014
07.02.2014
07.02.2014
07.02.2014
07.02.2014
07.02.2014
07.02.2014
07.02.2014
09.09.2010
07.02.2014
07.02.2014
07.02.2014
07.02.2014
07.02.2014
07.02.2014
13.11.2014
07.02.2014
07.02.2014
07.02.2014
07.02.2014
07.02.2014
07.02.2014
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
(Ashok M. Katariya)
Chairman
&
V</QZ[
Maintenance Contract - 1416.60
Repayable on Demand
< VZ"*+";
Rendering of Services
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
V
V^{/Q"Z*[[
Sale of RMC Plant - 33.44
&
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Purchase of Automation Software - 17.92
{
V <<
goods or materials.
V <<
goods or materials.
{
V <<
goods or materials.
{
Rendering of Services
{
Rendering of Services
{
Rendering of Services
Rendering of Services
=$
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goods or materials.
Subsidiary
Subsidiary
V]_
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>
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1. Details of contracts or arrangements or transactions not at arms length basis:
Sr.
Name of the Related Party
Nature of Contracts/
Durations of the Contracts /
Salient Terms of the
;
Date(s) Amount paid as Date on which the special
No.
Arrangements/
Agreements/ Transactions
Contracts or arrangements
arrangements or transactions
approval advances, if any
resolution was passed in
Transactions:
or Transactions including
by the
general meeting as required
the Value, if any
Board, if
"
any
section 188:
Not Applicable
2. Details of material contracts or arrangement or transactions at arms length basis:
26
Remuneration for
FY 14-15
` in Crore
3.077
3.134
% increase in
remuneration in
FY 14-15
16.30
16.30
Ratio of Remuneration
of each Director to median
remuneration of employees
142.02
142.02
1.737
15.33
82.04
0.619*
25.59
0.497
15.36
N. A.
0.135
16.18
N. A.
* Mr. Milapraj Bhansali has been appointed for part of the period in FY 2013-14.
# $z "Z+[**+O\
` 5/- each equivalent to 8.29% of the paid-up Share Capital of
the Company.
^$ ""+"L;O\
` 5/- each equivalent to 7.48% of the paid-up Share Capital of the
Company.
)[![+"O\
` 5/- each equivalent to 0.19% to the paid-up Share Capital of the
Company.
Mr. Milapraj Bhansali holds Nil Equity Share of ` 5/- each of the Company.
b.
+"
year is ~9.35%.
c.
d.
The explanation on the relationship between average increase in remuneration and company performance;
+
"
<=>
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[
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Financial Year.
27
Market capitalization of the Company as at March 31, 2015 is 2789.45 Cr. against Rs. 1203.71 Cr. as at March 31,
2014. Price earning ratio (P/E) is 19.58 as on March 31, 2015 against 11.66 as on March 31, 2014. The closing price
of the Companys equity shares on the NSE and BSE as of March 31, 2015 was Rs. 175.85 and 178.70 respectively,
representing a 162.82% (NSE) increase over the IPO price, adjusted to stock splits and bonus issue to date.
f.
Average percentile increase already made in the salaries of employees other than the managerial personnel in the last Financial
|V < H<VV&
V
<
there are any exceptional circumstances for increase in the managerial remuneration.
The average annual increase in the salaries of employees other than the managerial personnel was 14%. There was no
exceptional increase in the managerial remuneration.
g)
The key parameters for any variable component of remuneration availed by the directors;
Executive Directors except Mr. Milapraj Bhansali have a component of variable pay which is commission as a percentage
[
h)
The ratio of the remuneration of the highest paid director to that of the employees who are not directors but receive remuneration
in excess of the highest paid director during the year
There is no employee who draws remuneration higher than the highest paid director during the year.
i)
_ :
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employee/s employed throughout the year
Designation
Anil S. Gandhi
Chief Operating
V
1.01
B. E. - Civil
56
31
Date of
joining
Previous
% of equity Whether such
Employment shares held
employee is
Designation by employee a relative of
any director or
manager and
such director
or manager
"
--0.03%
No
1995
28
Annexure - IV
Form No. MR-3
SECRETARIAL AUDIT REPORT
[Pursuant to Section 204(1) of the Companies Act, 2013 and Rule No.9 of the Companies (Appointment and Remuneration
Personnel) Rules, 2014]
For the Financial Year ended 31st March, 2015
To
The Members
Ashoka Buildcon Limited
!"# $%
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Nashik - 422011
I have conducted the Secretarial Audit of the Compliance of Applicable Statutory provisions and the adherence to good corporate
practices # $ /V ]
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provided me a reasonable basis for evaluating the Corporate Conducts/Statutory Compliances and expressing my opinion thereon.
/ Y
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I further report that compliance with applicable laws is the responsibility of the Company and our report constitutes an independent
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company.
:Y, $<< $
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for the same are Not Applicable for the year under review. There were no instances of Foreign Direct Investment received
& HY <V <H
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investments received relating to the earlier period);
]Y_=
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(d) The Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme)
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]_=VO,V&/
:]:&
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the Companies Act and dealing with client (Not Applicable for the year under review);
]&_=VO,V&/
:]^&
O\_U& *++L]Not Applicable for the year
under review)and
]_=VO,V&/
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V_U& "LL]Not Applicable for the year under
review).
]Y_H<<V<V
V <]Not Applicable for the year under review);
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H&X
(i) Secretarial Standards issued by The Institute of Company Secretaries of India (Not Applicable for the year under review);
and
29
'$
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(
$
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)
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30
Annexure - V
FORM NO. MGT 9
($
*'
+-
/01
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-0
$
-/1
"#$!
/$$
2
%$
1
-3
EXTRACT OF ANNUAL RETURN
I
i
ii
iii
iv
v
vi
vii
L45200MH1993PLC071970
13/05/1993
ASHOKA BUILDCON LIMITED
V <
!"# $% # $&$
=+*;ZQZ+""[+;>,Q+*;ZQ**Z![+)
secretarial@ashokabuildcon.com
Whether listed company
Yes
#
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]U=#_XQ
< /&/<]J_Q)+++[ V
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manohar.shirwadkar@linkintime.co.in;
II.
19
Applicable
Section
% of
shares
held
66%
100%
100%
100%
99.89%
Sec. 2(87)
Sec. 2(87)
Sec. 2(87)
Sec. 2(87)
Sec. 2(87)
100%
100%
Sec. 2(87)
Sec. 2(87)
51%
Sec. 2(87)
99.80%
Sec. 2(87)
51%
50%
Sec. 2(87)
Sec. 2(6)
12
13
14
15
16
17
18
19
{}U# $UU
# $%&H]/_
# $%&H]^&_
Ashoka Belgaum Dharwad Tollway
Ashoka Sambalpur Baragarh
= H
Ashoka Dhankuni Kharagpur
= H
Jaora-Nayagaon Toll Road Company
Y
{= H
31
);*+Z=*+"Z+L**)+
);*+Z%*++["![[Z
Associate Company
Subsidiary Company
50%
33.66%
Sec. 2(6)
Sec. 2(87)
[)LLL%*++["![[*
);)++^*+"+*+Z;L
Subsidiary Company
Subsidiary Company
33.66%
66%
Sec. 2(87)
Sec. 2(87)
);*+)^*+"+*+ZL+
Subsidiary Company
66%
Sec. 2(87)
);*+)^*+""*";*!*
Subsidiary Company
66%
Sec. 2(87)
Associate Company
23%
Sec. 2(6)
);*+Z=*++L+[+[)"
Associate Company
26%
Sec. 2(6)
IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)
i. Category-wise Share Holding
Category of
No. of Shares held at the beginning of the year
No. of Shares held at the end of the year
% Change
Shareholders
during
Demat
Physical
Total
% of Total
Demat
Physical
Total
% of Total
the year
Shares
Shares
A. Promoter s
(1) Indian
_:Y%>
104486022
104486022
66.15
104811736
0
104811736
66.07
(0.08)
b) Central Govt
0
0
0
0
0
0
0
0
c) State Govt(s)
0
0
0
0
0
0
0
0
d) Bodies Corp.
75390
0
75390
0.05
75390
0
75390
0.05
(0.00)
e) Banks / FI
0
0
0
0
0
0
0
0
f) Any other-PIC
2194620
0
2194620
1.39
2194620
0
2194620
1.38
(0.01)
0
0
0
(2) Foreign
0
0
0
a) NRI - Individual/
0
0
0
0
0
0
0
0
b) Other - Individual/
0
0
0
0
0
0
0
0
c) Bodies Corp.
0
0
0
0
0
0
0
0
d) Banks / FI
0
0
0
0
0
0
0
0
e) Any Others
0
0
0
0
0
0
0
0
Total shareholding of Promoter (A)
106756032
0
106756032
67.59
107081746
0
107081746
67.51
(0.08)
B. Public Shareholding
0
1. Institutions
0
a) Mutual Funds
18905403
0
18905403
11.97
18667016
0
18667016
11.77
(0.20)
b) Banks / FI
852
0
852
0
68701
0
68701
0
0.04
c) Central Govt
0
0
0
0
0
0
0
0
d) State Govt(s)
0
0
0
0
0
0
0
0
_}<>
9411957
0
9411957
5.96
0
0
0
0
(5.96)
f) Insurance Companies
0
0
0
0
0
0
0
0
g) FIIs
552
0
552
0
8509967
0
8509967
5.36
5.36
_> &}<>
0
0
0
0
0
0
0
0
i) Others (specify)
0
0
0
0
0
0
0
0
Sub-total (B)(1):28318764
0
28318764
17.93
27245684
0
27245684
17.18
(0.75)
0
0
2. Non-Institutions
0
0
a) Bodies Corp.
0
0
0
0
0
0
0
0
i) Indian
10665924
0
10665924
6.75
10333350
0
10333350
6.51
(0.24)
ii) Overseas
0
0
0
0
0
0
0
0
b) Individuals
0
0
i) Individual shareholders holding
2057787
5
2057792
1.30
3061569
5
3061574
1.93
0.63
nominal share capital upto ` 1 lakh
32
Category of
Shareholders
ii) Individual shareholders holding
nominal share capital in excess of
`1 lakh
Foreign Portfolio Investors Corproates
c) Others (specify)
Sub-total (B)(2):Total Public Shareholding (B)=(B)
(1)+ (B)(2)
C. Shares held by Custodian for
GDRs & ADRs
Grand Total (A+B+C)
ii
Sl
No.
344872
344872
0.22
196612
22878289
51197053
0
5
5
196612
22878294
51197058
0.12
14.48
32.41
754149
24299188
51544872
0
5
5
754149
24299193
51544877
0.48
15.32
32.49
0.35
0.83
0.08
157953085
157953090
100.00
158626618
158626623
100%
100%
Shareholding of Promoters
Shareholders Name
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
% of total
Shares of the
company
% of Shares
Pledged /
encumbered to
total shares
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
"Z+[**+
"*)[Z;L
""+"L;
"""+LZ[*
"+[+;[;
"+;!)"+
L"!)*Z)
[L+;*)+
!"++L+
;*)L+)+
"L"Z!"L
"!;[;;*
"*[;+++
"+;++++
)[![+"
ZL*
Z";++
*))+
;ZL[+
*")*+
*"L)!*+
107,081,746
% of total
%of Shares
Shares
Pledged /
of the
encumbered
company
to total shares
8.25%
0%
7.86%
0%
7.44%
0%
7.00%
0%
6.80%
0%
6.67%
0%
5.78%
0%
4.98%
0%
3.90%
0%
3.31%
0%
1.21%
0%
1.04%
0%
0.80%
0%
0.66%
0%
0.30%
0%
0.02%
0%
0.00%
0%
0.02%
0%
0.02%
0%
0.03%
0%
0.01%
1.38%
67.51%
0%
0%
0%
% change
in share
holding
during the
year
0.00%
0.07%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.01%
0.00%
0.00%
0.11%
0.00%
-0.02%
0.00%
0.00%
0.00%
0.00%
0.00%
0.17%
33
iii
Change in Promoters Shareholding ( please specify, if there is no change)
Sr.
Name of Shareholder
Shareholding at the
Cumulative Shareholding
No.
beginning of the year
during the year
No. of shares % of total
No. of
% of total
shares of the
shares
shares of the
company
company
1 Ashish Ashok Katariya
At the beginning of the year
12311796
7.79
12311796
7.79
Increase
Date
Reason for Increase
19-Jun-14
Purchase from Open Market
4500
0.003
12316296
7.79
20-Jun-14
Purchase from Open Market
31535
0.020
12347831
7.81
23-Jun-14
Purchase from Open Market
26700
0.017
12374531
7.82
24-Jun-14
Purchase from Open Market
7000
0.004
12381531
7.83
25-Jun-14
Purchase from Open Market
7500
0.005
12389031
7.83
8-Jul-14
Purchase from Open Market
27200
0.017
12416231
7.85
9-Jul-14
Purchase from Open Market
4650
0.003
12420881
7.85
11-Jul-14
Purchase from Open Market
2907
0.002
12423788
7.86
25-Jul-14
Purchase from Open Market
25310
0.016
12449098
7.87
28-Jul-14
Purchase from Open Market
24500
0.015
12473598
7.89
At the End of the year
12473598
7.86
12473598
7.86
2
304686
0.19
304686
0.19
44400
131040
0.03
0.08
349086
480126
0.22
0.30
3425
476701
0.002
0.30
476701
476701
0.30
0.30
1627164
1.03
1627164
1.03
33388
0.02
1660552
1.05
500
500
1000
1000
1657552
0.00
0.00
0.00
0.00
1.04
1660052
1659552
1658552
1657552
1657552
1.05
1.05
1.05
1.05
1.04
34
Sr.
No.
Name of Shareholder
Shareholding at the
Cumulative Shareholding
beginning of the year
during the year
No. of shares % of total
No. of
% of total
shares of the
shares
shares of the
company
company
38491
250
1000
1000
2753
100
33388
0.02
38491
0.02
38241
37241
36241
33488
33388
0
0.00
0.00
0.00
0.00
0.00
0.02
0.02
0.02
0.02
0.02
0.02
0
(iv) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs):
Sr
No.
Shareholding at the
Transactions during the year
beginning of the
year - 2014
NO.OF
% OF
DATE OF
NO. OF
SHARES
TOTAL
TRANSACTION
SHARES
HELD
SHARES
OF THE
COMPANY
861949
0.5434
04 Apr 2014
11 Apr 2014
09 May 2014
16 May 2014
23 May 2014
13 Jun 2014
20 Jun 2014
30 Jun 2014
25 Jul 2014
01 Aug 2014
08 Aug 2014
15 Aug 2014
22 Aug 2014
29 Aug 2014
05 Sep 2014
12 Sep 2014
19 Sep 2014
30 Sep 2014
2659110
4670
9734
1886
603893
51833
46879
77121
109800
68231
28389
31500
236471
100000
200400
11300
6823
185177
Cumulative Shareholding
at the end of the year 2015
NO OF
% OF
SHARES
TOTAL
HELD
SHARES
OF THE
COMPANY
861949
0.5434
3521059
3525729
3535463
3537349
4141242
4193075
4239954
4317075
4426875
4495106
4523495
4554995
4791466
4891466
5091866
5103166
5109989
5295166
2.2197
2.2227
2.2288
2.23
2.6107
2.6434
2.6729
2.7215
2.7908
2.8338
2.8517
2.8715
3.0206
3.0836
3.21
3.2171
3.2214
3.3381
Sr
No.
ICICI PRUDENTIAL
LIFE INSURANCE
COMPANY LTD
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Purchase from Open Market
Sale in Open Market
Sale in Open Market
Purchase from Open Market
Purchase from Open Market
Sale in Open Market
Purchase from Open Market
Purchase from Open Market
Sale in Open Market
Purchase from Open Market
Purchase from Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
35
Shareholding at the
Transactions during the year
Cumulative Shareholding
beginning of the
at the end of the year year - 2014
2015
NO.OF
% OF
DATE OF
NO. OF
NO OF
% OF
SHARES
TOTAL
TRANSACTION
SHARES
SHARES
TOTAL
HELD
SHARES
HELD
SHARES
OF THE
OF THE
COMPANY
COMPANY
10 Oct 2014
16000
5311166
3.3482
17 Oct 2014
471512
5782678
3.6455
24 Oct 2014
-46231
5736447
3.6163
07 Nov 2014
-500000
5236447
3.3011
09 Jan 2015
57000
5293447
3.337
13 Feb 2015
23300
5316747
3.3517
27 Feb 2015
173324
5490071
3.461
06 Mar 2015
-8679
5481392
3.4555
13 Mar 2015
471413
5952805
3.7527
27 Mar 2015
71176
6023981
3.7976
6023981
3.7976
6701472
4.2247
11 Apr 2014
18 Apr 2014
25 Apr 2014
09 May 2014
16 May 2014
30 Jun 2014
04 Jul 2014
08 Aug 2014
15 Aug 2014
22 Aug 2014
12 Sep 2014
19 Sep 2014
30 Sep 2014
17 Oct 2014
24 Oct 2014
07 Nov 2014
14 Nov 2014
28 Nov 2014
05 Dec 2014
12 Dec 2014
19 Dec 2014
31 Dec 2014
02 Jan 2015
09 Jan 2015
16 Jan 2015
-3268
-3136
-30000
-50160
50160
-95659
-14100
5100
2843
-66254
5980
2622
-400
2000
64500
-100
-200
-285040
-5750
-4745
5750
-126156
-30000
-10900
-668000
6701472
4.2247
6698204
6695068
6665068
6614908
6665068
6569409
6555309
6560409
6563252
6496998
6502978
6505600
6505200
6507200
6571700
6571600
6571400
6286360
6280610
6275865
6281615
6155459
6125459
6114559
5446559
4.2226
4.2206
4.2017
4.1701
4.2017
4.1414
4.1325
4.1358
4.1375
4.0958
4.0996
4.1012
4.101
4.1022
4.1429
4.1428
4.1427
3.963
3.9594
3.9564
3.96
3.8805
3.8616
3.8547
3.4336
36
Sr
No.
GMO EMERGING
DOMESTIC
OPPORTUNITIES FUND
Purchase from Open Market
Purchase from Open Market
Purchase from Open Market
Sale in Open Market
Sale in Open Market
Transfer
AT THE END OF THE
YEAR
DSP BLACKROCK INDIA
T.I.G.E.R. FUND
Sale in Open Market
Sale in Open Market
Purchase from Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Purchase from Open Market
Purchase from Open Market
Purchase from Open Market
Sale in Open Market
Purchase from Open Market
Purchase from Open Market
Shareholding at the
Transactions during the year
Cumulative Shareholding
beginning of the
at the end of the year year - 2014
2015
NO.OF
% OF
DATE OF
NO. OF
NO OF
% OF
SHARES
TOTAL
TRANSACTION
SHARES
SHARES
TOTAL
HELD
SHARES
HELD
SHARES
OF THE
OF THE
COMPANY
COMPANY
23 Jan 2015
-223300
5223259
3.2928
30 Jan 2015
-17744
5205515
3.2816
20 Feb 2015
-171650
5033865
3.1734
27 Feb 2015
-508177
4525688
2.853
06 Mar 2015
-363000
4162688
2.6242
13 Mar 2015
-122530
4040158
2.547
20 Mar 2015
-22240
4017918
2.5329
31 Mar 2015
-33000
3984918
2.5121
3984918
2.5121
0.0000
30 May 2014
18 Jul 2014
25 Jul 2014
01 Aug 2014
20 Feb 2015
06 Mar 2015
2843724
1967684
445623
9869
-65124
-593351
1388124
1.7927
11 Apr 2014
18 Apr 2014
25 Apr 2014
09 May 2014
16 May 2014
23 May 2014
13 Jun 2014
04 Jul 2014
11 Jul 2014
18 Jul 2014
08 Aug 2014
12 Sep 2014
17 Oct 2014
05 Dec 2014
06 Feb 2015
20 Feb 2015
-41504
-556
700000
-963
-107794
-8600
-134482
-61919
-2396
-150000
100000
209944
2514
-102514
231229
100000
1967684
2413307
2423176
2358052
1764701
3152825
3152825
1.2405
1.5214
1.5276
1.4865
1.1125
1.9876
1.9876
2843724
1.7927
2802220
2801664
3501664
3500701
3392907
3384307
3249825
3187906
3185510
3035510
3135510
3345454
3347968
3245454
3476683
3576683
1.7666
1.7662
2.2075
2.2069
2.1389
2.1335
2.0487
2.0097
2.0082
1.9136
1.9767
2.109
2.1106
2.046
2.1917
2.2548
Sr
No.
37
Shareholding at the
Transactions during the year
Cumulative Shareholding
beginning of the
at the end of the year year - 2014
2015
NO.OF
% OF
DATE OF
NO. OF
NO OF
% OF
SHARES
TOTAL
TRANSACTION
SHARES
SHARES
TOTAL
HELD
SHARES
HELD
SHARES
OF THE
OF THE
COMPANY
COMPANY
13 Mar 2015
-263953
3312730
2.0884
20 Mar 2015
-275040
3037690
1.915
3037690
1.915
SUNIL BANSILAL
RAISONI
Purchase from Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Purchase from Open Market
Sale in Open Market
Purchase from Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
Sale in Open Market
AT THE END OF THE
YEAR
3706207
SHUBHAM RAJENDRA
RAISONI
Purchase from Open Market
Sale in Open Market
Purchase from Open Market
Sale in Open Market
Sale in Open Market
AT THE END OF THE
YEAR
2000000
2.3364
04 Apr 2014
16 May 2014
23 May 2014
06 Jun 2014
13 Jun 2014
20 Jun 2014
25 Jul 2014
05 Sep 2014
12 Sep 2014
19 Sep 2014
03 Oct 2014
28 Nov 2014
05 Dec 2014
09 Jan 2015
16 Jan 2015
23 Jan 2015
06 Feb 2015
20 Feb 2015
27 Feb 2015
06 Mar 2015
13 Mar 2015
6000
-31410
-10178
-53000
-17200
-46000
-24800
3533393
-3533393
3533393
-3533393
-38623
-25000
-80932
-7205
-3752
-1210
-3010
-91500
-226241
-30000
1.2608
05 Sep 2014
12 Sep 2014
19 Sep 2014
03 Oct 2014
06 Mar 2015
4000000
-4000000
4000000
-4000000
-100000
3706207
2.3364
3712207
3680797
3670619
3617619
3600419
3554419
3529619
7063012
3529619
7063012
3529619
3490996
3465996
3385064
3377859
3374107
3372897
3369887
3278387
3052146
3022146
3022146
2.3402
2.3204
2.314
2.2806
2.2697
2.2407
2.2251
4.4526
2.2251
4.4526
2.2251
2.2008
2.185
2.134
2.1294
2.1271
2.1263
2.1244
2.0667
1.9241
1.9052
1.9052
2000000
1.2608
6000000
2000000
6000000
2000000
1900000
1900000
3.7825
1.2608
3.7825
1.2608
1.1978
1.1978
38
Sr
No.
KALPANA SUNIL
RAISONI
Purchase from Open Market
Sale in Open Market
Purchase from Open Market
Sale in Open Market
AT THE END OF THE
YEAR
Shareholding at the
Transactions during the year
beginning of the
year - 2014
NO.OF
% OF
DATE OF
NO. OF
SHARES
TOTAL
TRANSACTION
SHARES
HELD
SHARES
OF THE
COMPANY
1847970
1.1650
GMO EMERGING
MARKETS FUND
Purchase from Open Market
Purchase from Open Market
Purchase from Open Market
Purchase from Open Market
Sale in Open Market
Sale in Open Market
Purchase from Open Market
Purchase from Open Market
Sale in Open Market
Sale in Open Market
Purchase from Open Market
Purchase from Open Market
Sale in Open Market
Purchase from Open Market
Purchase from Open Market
Purchase from Open Market
Sale in Open Market
AT THE END OF THE
YEAR
05 Sep 2014
12 Sep 2014
19 Sep 2014
03 Oct 2014
1847970
-1847970
1847970
-1847970
16 May 2014
05 Sep 2014
12 Sep 2014
19 Sep 2014
03 Oct 2014
500000
1000000
-4600
2990800
-2990800
0.0000
0.0000
30 May 2014
06 Jun 2014
20 Jun 2014
18 Jul 2014
25 Jul 2014
01 Aug 2014
22 Aug 2014
30 Sep 2014
24 Oct 2014
21 Nov 2014
28 Nov 2014
19 Dec 2014
16 Jan 2015
20 Feb 2015
27 Feb 2015
06 Mar 2015
13 Mar 2015
377468
18851
40026
24863
-6667
-13360
48497
162938
-81132
-52300
29323
163596
-134278
5318
298308
769126
-171620
Cumulative Shareholding
at the end of the year 2015
NO OF
% OF
SHARES
TOTAL
HELD
SHARES
OF THE
COMPANY
1847970
1.165
3695940
1847970
3695940
1847970
1847970
2.33
1.165
2.33
1.165
1.165
0
500000
1500000
1495400
4486200
1495400
1495400
0
0.3152
0.9456
0.9427
2.8282
0.9427
0.9427
377468
396319
436345
461208
454541
441181
489678
652616
571484
519184
548507
712103
577825
583143
881451
1650577
1478957
1478957
0.238
0.2498
0.2751
0.2908
0.2865
0.2781
0.3087
0.4114
0.3603
0.3273
0.3458
0.4489
0.3643
0.3676
0.5557
1.0405
0.9324
0.9324
Sr
No.
Shareholding at the
Transactions during the year
beginning of the
year - 2014
NO.OF
% OF
DATE OF
NO. OF
SHARES
TOTAL
TRANSACTION
SHARES
HELD
SHARES
OF THE
COMPANY
2085185
1.3145
v
Shareholding of Directors and Key Managerial Personnel:
Sr. Name of Key Managerial Personnel
No.
Paresh C. Mehta
At the beginning of the year
Increase
Date
Reason for Increase
13.06.14
Purchase of shares under ESOP Scheme
At the End of the year
Manoj A. Kulkarni
At the beginning of the year
Changes During the Year
Increase
Date
Reason for Increase
13.06.14
Purchase of shares under ESOP Scheme
15.09.14
Purchase of shares under ESOP Scheme
Decrease
At the End of the year
04 Apr 2014
23 May 2014
30 Jun 2014
18 Jul 2014
10 Oct 2014
16 Jan 2015
23 Jan 2015
13 Feb 2015
20 Feb 2015
27 Feb 2015
85225
494000
-100000
-300000
-400000
-200000
-75800
-200000
-341852
-17520
Shareholding at the
beginning of the year
No. of
% of total
shares
shares of the
company
39
Cumulative Shareholding
at the end of the year 2015
NO OF
% OF
SHARES
TOTAL
HELD
SHARES
OF THE
COMPANY
2085185
1.3145
2170410
2664410
2564410
2264410
1864410
1664410
1588610
1388610
1046758
1029238
1029238
1.3683
1.6797
1.6166
1.4275
1.1753
1.0493
1.0015
0.8754
0.6599
0.6488
0.6488
Cumulative Shareholding
during the year
No. of
% of total
shares
shares of the
company
4386
0.003
4386
0.003
24366
28752
0.02
0.02
28752
28752
0.02
0.002
1251
0.001
1251
0.001
714
1200
0.0005
0.0008
1965
3165
0.001
0.002
3165
0.002
3165
0.002
40
INDEBTEDNESS
Indebtedness of the Company including interest outstanding/accrued but not due for payment
Indebtedness at the beginning of the
Secured Loans
Unsecured Loans
Deposits
excluding deposits
i) Principal Amount
"")L;Z*!!
*![+)Z;
ii) Interest due but not paid
*LL[;Z[
*!;+;*""
iii) Interest accrued but not due
0
0
Total (i+ii+iii)
1817950803
313210046
Change in Indebtedness during the
Secured Loans
Unsecured Loans
Deposits
excluding deposits
* Addition
!)+"["!ZZ
*[;+++++++
* Reduction
!Z[ZZ*Z)
"*;+++++++
Net Change
-223561601
1500000000
Secured Loans
Unsecured Loans
Deposits
year
excluding deposits
i) Principal Amount
";L"ZL"!!;
"[![+)Z;
ii) Interest due but not paid
*;";*
;)*+ZZ[L
iii) Interest accrued but not due
0
0
Total (i+ii+iii)
1593910193
1840908214
Total Indebtness
0
0
0
2101658101
29502748
0
2131160849
Total Indebtness
0
0
0
3390171633
2113733234
1276438399
Total Indebtness
0
0
0
0
3378096500
56721907
0
3434818407
Total
Amount
Milapraj
Bhansali
!*Z"!++
!"L*+++
LL!L+!")
;*!!Z!*
ZL!++
"))*)*;*
0
0
B.
Name of Directors
Michael
Pinto
Independent Directors
Fee for attending board committee
meetings
Commission
<<V
Total (1)
Other Non-Executive Directors
Fee for attending board committee
meetings
Commission
<<V
Total (2)
= ]/_]"*_
Total Managerial Remuneration
Overall Ceiling as per the Act
Sharadchandra
Abhyankar
41
Total
Amount
Albert
Tauro
Gyanchand
Daga
360000
500000
300000
500000
1660000
0
0
360000
0
0
500000
0
0
300000
0
0
500000
0
0
1660000
0
0
0
360000
360000
0
0
0
500000
500000
0
0
0
300000
300000
N. A.
0
0
0
500000
500000
0
0
0
1660000
1660000
V
VZ"*+";
>
/
^V
# $/V
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^XZ++[*+";
Sd/(Ashok M. Katariya)
Chairman
42
1.
2.
Z
)
;
6.
Annexure VI
Annual Report on Corporate Social Responsibility
<] < VU< V_U*+")
Brief outline of the Companys CSR Policy
= <<< YU V&
/
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Committee has on a priority basis articulated the amount to be spent as per CSR policy of the Company. The Company has
deployed a dedicated resource for identifying CSR activities and strategy. The CSR committee has considered few proposals
& =#Y& <
<
V X ` 148.57 Crore and prescribed CSR
O,< X ` 2.97 Crore. The Company has incurred some expenditure on CSR activities which fall in the ambit of
V}::
<#V*+"Z= < &UVY V=
&&<YYVV$Q<V<VV$Q<V<
V$Y V<= <
has set aside the unspent amount of `*!+ >|*+";Q"!UVYH
Composition of CSR Committee
Please refer to Corporate Governance Report for the Composition of CSR Committee.
#Y&
<
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VX` 148.57 Crore
VUO,<X
` 2.97 Crore
^
U<&
V*+")Q";
= <
V
` *L[++V
b.
Total amount spent during the year
`
Z!!)V
V # <
` *!+Z!V
HV H<&
V*+")Q"; H
Sr.
CSR activity
UYV
V}:: Amount spent
Amount spent directly /
No.
which Project is covered
(`:V_ through implementing agency
1
Promotion of Education
V}::]_
19.50
Directly
2
Promoting health care including
V}::]_
6.00
Directly
preventive health care
3
Promotion of Sports
V}::]Y_
5.00
Directly
4
Environment
V}::]Y_
6.11
Directly
CSR Committee Responsibility Statement
=U V
< &
UVY
<V <V
with the CSR objectives and CSR Policy of the Company.
Ashok Katariya
Chairman
Satish Parakh
Chairman (CSR Committee)
43
Annexure VII
ASHOKA BUILDCON LIMITED
REMUNERATION POLICY
The Remuneration Policy (Policy / this Policy)
# $/V ] <_& V Y
< HV <Y$=< VV < VY
& V < & YVH
sustained long-term value creation for shareholders.
= V<< </
^V &V&z& ]z_
Guiding principles
The guiding principle is that the remuneration and the other terms of employment shall be competitive in order to ensure that the
Company can attract and retain competent Executives.
Remuneration Policy
The Nomination and Remuneration Committee (Formerly known as Remuneration Committee) recommends to the Board the
compensation package of the Executive Directors and also the compensation payable to the Non-Executive Directors of the
<VV VH< Y V <#V*+"Z
= < V
& QO,VY^V &<
&>
within the ceiling prescribed by the Central Government.
44
Annexure VIII
ASHOKA BUILDCON LIMITED
VIGIL MECHANISM / WHISTLE BLOWER POLICY
Introduction
# $/V (Company) believes in conduct of the affairs of its constituents in a fair and transparent manner by adopting
&
<
&VY = <V Y <VH
< V V
VV<<VVY
V V}&
Mechanism / Whistle Blower Policy (The Policy) is a device to help alert and responsible individuals to bring to the attention of the
&< <VVY <V
& <<VV
HV H
/V< H
H
&YV
= V< V "[[
<#V*+"ZHU[
<]&
/
H_U*+")V)L
&#&
The Company is committed to provide adequate safeguards against victimisation of employees and directors or other persons who
avail of such mechanism and also provide for direct access to the Chairperson of the Audit Committee or the Director nominated by
# V,V< V
a) Address for Communication :
The Whistle Blower shall send his/her Grievance / concern / Complaint / irregularities (Complaint) by sending a mail to
OQXwhistleblower@ashokabuildcon.com
Alternatively he/she may write a letter addressed to the following address.
To
The Managing Director
# $/V
!"# $% # $&
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The Complaint raised will be placed by the Managing Director before an appropriate Committee for investigation. The
HY& <
< <H
closed and intimation will be sent to Whistle Blower within reasonable period and in any case not exceeding 90 days from
the receipt of Complaint. The Committee shall give an opportunity of being heard to the Whistle Blower and the enquiry/
investigation will be conducted following the principles of natural justice.
% HY
< V
<\HV
O,# ,&V% HYY&
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& V \ H V V
H& <V<
VV<
V
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#<< <
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V
:V
VV \Y
<H$
decision.
b) Protection
(A) No unfair treatment will be given to a Whistle Blower by virtue of his/her having reported a Protected Disclosure under
V= << VV $
V YV
J/ H
<< V H&Y J/ H&
<VV$ <
YVV<V $V&V V
VJ/ H
right to continue to perform his duties/functions including making further Protected Disclosure.
45
A quarterly report with number of Complaints received under the Policy and their outcome shall be placed before the Audit
Committee and the Board periodically.
^
VVV V < H
/
report.
d) Coverage of Policy:
Criminal offense;
&_
V
< <
h) Deliberate violation of law/regulation;
i)
j)
46
Annexure IX
Employee Stock Option Scheme (ESOP)
= < V O< V$ < V *++[ ]O *++[_
<
<
Subsidiary/ies. The Disclosures pursuant to Clause 12 of SEBI (Employees Stock Option Scheme and Employees Stock Purchase
V_{"LLL&Y HX
1. a) Total No. of options granted
[++;+
2. b) (i) The pricing formula
O,VV\ >}
(ii) Exercise Price
Category I Merchant Banker and subsequently
fairly adjusted in view of sub-division of face
value from ` 10/- to ` 5/- and issue of bonus
shares of `;QV
"X*
` 63.33 per share including premium of ` 58.33
per share
3. c)
< Y
VZ"*+";]
V \
**L;)L
upon split of face value of ` 10/- into ` 5/- and issue of 1 bonus share of
` 5/- fully paid for every 2 shares of ` 5/- each fully paid)
4. d) No. of options exercised during the year
![Z;ZZ
= < O,VVZ"*+";
!)"[
5. e) the total number of shares arising as a result of exercise of option
One Share per option
f) No. of options lapsed / forfeited till 31.03.2015
";+!++
g) variation of terms of options
N. A.
h) money realised by exercise of options
`);)ZV
i)
<
V VZ"*+";
"";L;[
j) < H
< & X
I)
Senior Managerial Personnel
N. A. as no fresh grant during the year 2014-15
II) any other employee who receives a grant in any one year of option N. A. as no fresh grant during the year 2014-15
amounting to 5% or more of option granted during that year.
k)
< H H & < & N. A. as no fresh grant during the year 2014-15
equal to or exceeding 1% of the issued capital (excluding outstanding
warrants and conversions) of the company at the time of grant.
l) diluted Earnings Per Share (EPS) pursuant to issue of shares on exercise The impact on fully diluted EPS will be ` 8.96
of option calculated in accordance with Accounting Standard (AS) 20
Earnings Per Share.
m) The difference between the employee compensation cost so computed
--and the employee compensation cost that shall have been recognized if
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controlling and reducing all associated risks to a level as low as reasonably practicable.
B.
BOARD OF DIRECTORS
(i)
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experience to effectively manage and direct your Company to attain its organizational goals. They are expected to be
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Each member of the Board of Directors of your Company is expected to ensure that his/her personal interest does not
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to maintain both the substance and appearance of independence and objectivity.
(ii)
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Name of Director
Category of
Director
Executive and
non-independent
Executive and
non-independent
Executive and
non-independent
Executive and
non-independent
Non-Executive and
Independent
Non-Executive and
Independent
Non-Executive and
Independent
Non-Executive and
Independent
Non-Executive and
Independent
Relationship
No. of
No. of other
with other Directorships
Board
Directors
in other
Committee(s)
companies
of which
he/ she is a
Member*
No
6
Nil
No. of other
Board
Committee(s)
of which he
/ she is a
Chairperson*
1
No
Nil
No
Nil
No
Nil
Nil
No
No
No
Nil
No
Nil
No
Nil
48
*i)
ii.
Code of Conduct;
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Evaluation Policy;
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Sensitive information
No. of
No. of
Whether
Meetings Board
AGM
held
Meetings Attended
Attended
(Yes/
No/N.A.)
9
7
Yes
9
7
Yes
9
7
Yes
9
8
Yes
9
7
No
9
9
No
9
9
9
7
9
Nil
Yes
Yes
N. A.
C.
BOARD COMMITTEES
In compliance with both the mandatory and non \ )L
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Audit Committee;
ii)
iii)
vi)
v)
vi)
QIP Committee
(i)
Audit Committee
The Audit Committee of the Board of Directors of
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49
Sr.
Name
Designation
No
1 Mr. Gyan Chand Chairman
Daga
(Independent Director)
2 Mr. Michael Pinto Member
(Independent Director)
3 Mr. Sharadchandra Member
Abhyankar
(Independent Director)
4 Mr. Satish Parakh Member
(Executive Director)
Code of Conduct
Your Companys Board of Directors has prescribed
a Code of Conduct for all Board Members and
the Companys Senior Management. The Code of
Conduct is available on your Companys website
www.ashokabuildcon.com
All the Board Members and the Senior Management
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compliance with the Code of Conduct for the year
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This is to certify that, in line with the requirement of
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directors and who may be appointed in senior
management as per the criteria laid down and
to recommend to the Board appointment and
removal of Directors;
Mr. GyanchandDaga
Mr. Michael Pinto
Mr. Sharadchandra
Abhyankar
Mr. Satish Parakh
(ii)
No. of
meeting
held
5
5
5
No. of
Meetings
Attended
5
4
5
(c)
(d)
(e)
(f)
Remuneration Policy
Mr. Sharadchandra
Abhyankar
(:<
Director
(:<
Director
(b)
(b)
Name of Executive /
Whole-time Director
(Period of Appointment)
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Name of the NonExecutive Director
Mr. Michael Pinto
Mr. Sharadchandra
Abhyankar
Mr. Albert Tauro
Mr. GyanchandDaga
Ms. SunandaDandekar
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termination of their association with your Company.
Sitting Fee
(Amounts in Rs.)
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51
(:<
Director
(:<
Director
Mr.
Sharadchandra
Abhyankar
Mr. Michael Pinto
Mr. Albert Tauro
No. of
meetings
held
1
No. of
Meetings
Attended
1
1
1
52
Nature of complaint
Received Resolved Pending
Status of applications lodged
Nil
N.A.
Nil
for public issue(s)
Non-receipt of electronic
Nil
N.A.
Nil
credits
Non-receipt of refund order
Nil
N.A.
Nil
Non-receipt of dividend
5
5
Nil
warrants
Non-receipt of Annual Report
14
14
Nil
TOTAL
19
19
Nil
The brief terms of reference of the Stakeholders
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To look into and redress shareholders/investors
grievances relating to transfer of shares;
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of Annual Reports;
All such complaints directly concerning the
shareholders/investors as stakeholders of the
Company; and
any such matters that may be considered
necessary in relation to shareholders and
investors of the Company.
iv)
vi)
No. of
Meetings
held
2
2
2
No. of
Meetings
Attended
2
1
2
No. of
Meetings
held
Mr. Satish Parakh
4
4
Mr. Milapraj Bhansali
4
Meeting of Independent Directors
No. of
Meetings
Attended
4
4
4
53
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minority shareholders etc.
Familiarisation Programme for Independent Directors
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to familiarise with the Companys procedures and practices. Periodic presentations are made at the Board and Board
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business segments are made at the meetings of the Board of Directors held during the year.
SEBI Complaints Redress System (SCORES)
The investor complaints are processed in a centralised web based complaints redress system. The salient features of
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companies and online viewing by investors of actions taken on the complaint and its current status.
Your Company has been registered on SCORES and makes every effort to resolve all investor complaints received
through SCORES or otherwise within the statutory time limit from the receipt of the complaint.
D.
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Particulars
Number of
Number of
Shareholders
Equity Shares
Aggregate number of shareholders and the outstanding shares lying in the
Nil
Nil
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Nil
Nil
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Shares Demat Suspense Account during the year
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Nil
Nil
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54
Postal Ballot
Particulars of the Special Resolutions passed through
/ &
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Date of
Particulars
Person who conducted
passing
the Postal Ballot
of Special
Exercise
Resolution
1.10.14 1. Increase in Authorised Share Mr. S. Anantha
Capital from ` 81.10 Crore to U(
Practising Company
` 124.00 Crore;
*
Date of
Commencement of
Postal Ballot
23.08.14
Date of closing of
Postal Ballot
22.09.14
DISCLOSURES
i)
ii)
Details of Non-Compliance
There has been no non-compliance of any legal
requirements nor have there been any strictures
imposed by any Stock Exchange or SEBI or any
statutory authority on any matter related to Capital
Markets during the last three years.
iii)
iv)
v)
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and other matters of the Company for the Financial
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2)
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MEANS OF COMMUNICATION
The Companys corporate website www.ashokabuildcon.
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comprehensive information to the Shareholders.
Quarterly and Annual Financial results are published in
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Financial Express and Deshdoot.The said results are
also made available on the Companys website www.
ashokabuildcon.com
The Companys Annual Report is e-mailed/ dispatched
to all the Shareholders of the Company and also made
available on the Companys website www.ashokabuildcon.
com
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basis with the Stock Exchanges and also displayed on the
Companys website www.ashokabuildcon.com
5)
55
56
8. Stock Code
9.
Registrars
Transfer Agents
10. Share
System
and
Transfer
11.
Address
Correspondence
for
12. Dematerialisation of
\
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I.
GREEN INITIATIVE
Your Company is concerned about the environment
and utilises natural resources in a sustainable way. The
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shareholders electronically as a part of its green initiatives
in corporate governance.
L.
J.
April 2014
May 2014
June 2014
July 2014
August 2014
September 2014
October 2014
November 2014
December 2014
January 2015
February 2015
March 2015
K.
High
Price
(Rs.)
108.00
153.40
154.90
158.85
146.20
146.50
142.00
143.00
147.50
163.80
169.50
194.00
Low
Price
(Rs.)
71.05
90.00
134.40
122.10
123.85
127.10
110.05
124.50
124.00
137.50
132.80
156.30
NSE
High
Low
Price
Price
(Rs.)
(Rs.)
108.00 74.00
153.70 89.55
155.00 135.00
159.40 121.40
146.25 123.10
146.50 126.10
142.30 110.05
143.00 125.00
148.60 123.15
163.80 138.10
170.00 132.60
194.00 156.00
57
%
66.13
5.58
8.11
6.51
0.04
11.77
0.37
0.11
1.38
100.00
Category
1 to 500
501 to 1000
1001 to 2000
2001 to 3000
3001 to 4000
4001 to 5000
5001 to 10000
"++++ Y
TOTAL
No. of
Total
Amount
Total
Shareholders Shareholders
(Rs.)
Amount
(%)
(%)
11387
90.41
7565240
0.95
487
3.87
1976000
0.25
256
2.03
1989575
0.25
109
0.87
1417755
0.18
44
0.35
783755
0.10
35
0.28
828690
0.10
73
0.58
2711965
0.34
204
1.62 775860135
97.82
12595
100.00 793,133,115 100.00
58
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CEO /CFO of the Company
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Ashoka Buildcon Limited
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these statements do not contain any materially untrue statement or omit any material fact or contain statements that
might be misleading;
(ii)
these statements together present a true and fair view of the companys affairs and are in compliance with existing
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To
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We have conducted our examination on the basis of the relevant records and documents maintained by the Company and furnished
to us for the purpose of the review and the information and explanations given to us by the Company during the course of such
review.
The compliance of conditions of Corporate Governance is the responsibility of the management. Our examination was limited to
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For M P Chitale & Co.
Chartered Accountants
ICAI FR No. 101851W
Murtuza Vajihi
Partner
ICAI M No. 112555
Place: Mumbai
Date : May 13, 2015
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As at 31-Mar-15
263.30
3,875.57
778.83
933.92
6,394.51
1,913.32
(`:V_
#Z"QQ")
+Z*
)""!;
*;;
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;+"ZZ
)!ZL!
(1,059.65)
13,099.80
]ZZ"";_
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As at 31-Mar-15
5.80
21.53
Q
38.24
1,410.00
2,400.00
3,875.57
(`:V_
#Z"QQ")
;+
+[
*+;Z
*";+
Q
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")"+++
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)""!;
[!
Notes To The Financial Statements For Year Ended March 31, 2015
(ii) ^
^V Y]^< <V
<_X
V
^$
^$Q%>
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##z
##z
As at 31-Mar-15
40.00
20.00
40.00
21.50
1.00
(`:V_
#Z"QQ")
)+++
*+++
)+++
*";+
1.00
(`:V_
V
Long-term Trade Receivable:
& X
X
X Y
]U
]_ H_
Total
As at 31-Mar-15
#Z"QQ")
4,918.43
4,115.52
329.00
57.33
8,762.29
;*)L[!
*+)!;L
*ZZ!
*!;L;
[Z*ZL)
(a) = V V = < V& = << V
&V J^&VV=VH HY
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V &&
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15 INVENTORIES
(`:V_
V
UH
J $ &
^Y <
:Y /&^Y <
{ =X
Total
As at 31-Mar-15
2,945.28
41,326.49
184.21
1,329.48
1,068.73
46,854.19
#Z"QQ")
Z;"*)!
)+L!LZ
Q
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16 TRADE RECEIVABLES-Unsecured
V
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^,V&,
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#Z"QQ")
**""*
"!!+++
3,300.04
44,497.25
"L"*[
47,797.29
Considered doubtful :
^,V&,
X Y
Total
![""
Q
![""
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29.53
29.53
1.48
28.06
47,825.35
!Z[;
"L;;+Z
[[
Notes To The Financial Statements For Year Ended March 31, 2015
(i) ^
V <&X
V
# $%&H]^&_
# $^z/<U
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Q& = U Y
}Y%&H
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# $/&^H= H
# $</&= H
# $ V
# $^$z&<= H
## $:
VY
As at 31-Mar-15
2,937.46
21.37
54.93
381.52
183.11
5,130.06
2,494.19
3,306.10
1,777.02
3,565.50
29.77
(i) V
/$^< &
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Balances with banks held as:
&
J $&<
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#Z"QQ")
43.06
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425.23
74.90
[!L;[
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171.01
1,843.13
2,557.33
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171.01
(`:V_
#Z"QQ")
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1,920.78
166.28
1.98
"L[L++
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As at 31-Mar-15
#Z"QQ")
8,779.76
8,148.37
21.21
37.23
7.50
1.31
16,995.38
)"[ZL)
"+*!)*
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L;+[
")[+""+
(`:V_
#Z"QQ")
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"!*[
";**!"
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")+L;
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";*"[
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[
Notes To The Financial Statements For Year Ended March 31, 2015
(i) ^
V <&X
V
}Y%&H
# $^z/<U
# $$#&= H
# $:
H
{}U# $UU
# ${}U <U
& = U Y
# $%&H]/_
# $%&H]^&_
# $ V
# $/&^H= H
Total
19 OTHER CURRENT ASSETS
V
:UVY
<O,<
Total :::::
20 REVENUE FROM OPERATIONS
V
(a) VUYX
&H $QQ< &
#X VUY]U
*L]::_]/_]_
X<&H $QQ< &
XQV
H $QJ
]_ X
{
XO,V^ V
(c) = V
(d) <&UY
Total :::::
(`:V_
As at 31-Mar-15
698.62
175.28
39.86
31.44
4.70
141.94
2,240.97
1,455.27
3,360.29
8,148.37
#Z"QQ")
"Z++)*
*++L
"Z)")
Z;*!+)
"L
))+
*L;"++
"*))+
!+!!
"+";
"*+
"+*!)*
As at 31-Mar-15
671.85
468.00
1,139.86
(`:V_
#Z"QQ")
!!)+L
"!"!
Z**;
(`:V_
For Year ended
As at 31-Mar-15 #Z"QQ")
41,326.49
178,796.51
220,123.01
40,968.93
(2,263.19)
181,417.27
)+L!LZ
")LL)+[)
"L+L+L![
)!;;[;*
Q
"))Z;*";
9,810.43
519.90
9,290.53
5,522.60
436.00
196,666.40
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[L+Z
Z**Z+
"LL"+
155,664.09
X
(a) AS 7 - Accounting for Construction Contracts
UY
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V <
V <V&
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V VV V VY
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Notes To The Financial Statements For Year Ended March 31, 2015
V
(`V_
For Year ended
As at 31-Mar-15 #Z"QQ")
181,417.27
!+;*!L"
(`:V_
For Year ended
As at 31-Mar-15
#Z"QQ")
1,582.56
:UVY]{ _
"![[;
:Y
Z+)
1,330.00
U<
V
Q
17.51
] _
#]_
[+)
314.89
<>#
;";+)
2,255.89
:V
^Y
"L[[Z
345.31
V :V
;)L;[
Total
5,846.15
)[)+"[
= <V&
`""*L")$ # VV < &
<
&
22 OPERATING EXPENSES
V
<
V
QV V&&
=< %&&
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O\<V%&
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V O,<
HJ&
=VV V&
U=,
VYV&
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V&&
V
^
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Total
(In `V_
For Year ended
As at 31-Mar-15
#Z"QQ")
68,891.13
Z!!L+)L
69,565.54
!Z+L;[
1,796.76
*))L[
1,434.10
"Z)L
459.97
*")**
5,872.54
;[L+)!
230.76
L[*L
354.00
ZZZ+*
616.77
LZ!*
3,167.09
;**!;
488.52
ZLZ[
131.17
*L)+
76.06
[+L[!
1,584.50
")+"!Z
154,668.92
"**+!")[
+
Notes To The Financial Statements For Year Ended March 31, 2015
23 COST OF MATERIALS SOLD
V
(`:V_
For Year ended
As at 31-Mar-15
#Z"QQ")
62.88
L[[
6,083.56
;"!LZL
6,146.44
;*;L"[
70.27
!*
6,076.17
;"L!*L
<& V$
#XV&<
X & V$
(`:V_
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As at 31-Mar-15
#Z"QQ")
5,843.08
)!;+*
193.42
"[[+
101.40
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6,137.90
)L"!LL
J
O,<
Total
(i) Y>V& VV VV= < <
V
VHV &< Y
> VV V < V
V &>V <:V
Y>VV
< #
`)+!V]Y `"**;ZV_V&
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V V
(ii) ={
&
<> << < \
&
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:
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< YOV<<HV QV
<=<
< VYV
Y
Y
&YV
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<=
<,<
HV$ VV YV V
<
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(iv) ^{YOVV \#Q";]UY_X
V
}
& &&
period
:
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&
<
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<
O,<VU #
/
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#
<
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_
#V{] _
< Q&
#V{] _
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As at 31-Mar-15
Gratuity
Leave
Encashment
355.80
148.53
28.46
92.64
14.53
(48.98)
413.40
391.15
34.46
39.54
14.53
);+!*
37.23
48.98
-
11.88
67.20
3.26
(41.12)
183.22
41.12
-
(`:V_
#Z"QQ")
{
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OV
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Notes To The Financial Statements For Year Ended March 31, 2015
= ]{_
<
# V &/V
}
&
<
>}
#
<
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O,<V &
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(48.98)
(41.12)
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413.40
450.62
37.23
37.23
183.22
(183.22)
(183.22)
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Z;Z)
Z;Z)
");Z
Q
]");Z_
]");Z_
92.64
28.46
34.46
(48.98)
37.66
67.20
11.88
(41.12)
37.96
[[;L
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))*+
;Z[[
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Q
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0.08
0.07
0.10
0.08
0.08
0.07
0.10
N.A.
++
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0.10
++
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0.10
#
25 FINANCE EXPENSES
V
(`:V_
For Year ended
As at 31-Mar-15
#Z"QQ")
4,766.59
*);!L+
>V&
167.16
"Z+;
/$&
968.43
[;!!L
5,902.19
ZZ))"[
Total
26 OTHER EXPENSES
V
(`:V_
For Year ended
As at 31-Mar-15
U
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&
#Z"QQ")
1,034.12
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242.75
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81.16
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357.83
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153.78
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453.75
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620.83
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3.49
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88.76
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728.50
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17.50
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82.22
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891.92
[)*+Z
4,808.00
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Total
*
Notes To The Financial Statements For Year Ended March 31, 2015
&
$< &
(`V_
Particulars
Construction &
BOT
Sales of
Total
Contract Related
Goods
Activity
181,820.36
5,534.87
9,311.17
196,666.40
UY
]"));Z[+*_
]Z**[LZ_
][LL"Z_ ]";;!!)+_
22,327.14
885.66
1,567.69
24,780.49
&U
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5,688.38
#X V:V
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11,084.41
X VO,<
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19,384.45
/
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X Y
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5,791.73
=,
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(783.49)
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158.61
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14,217.60
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119,821.88
2,355.11
3,576.30
125,753.29
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140,218.81
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81,514.01
1,451.72
1,264.78
84,230.51
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76,308.04
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1,609.85
2.72
1,612.57
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498.34
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3,899.58
1,369.58
265.76
5,534.92
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Notes To The Financial Statements For Year Ended March 31, 2015
(II) AS 18 Related Party Transactions
(A) List of Related Parties
(a) '
[
(b)
(vi) }Y%&H
],Y_ }Y:
V
(c)
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)
Notes To The Financial Statements For Year Ended March 31, 2015
(B) Transactions during the period:
(a)
=V
Contract Receipts:
i # $%&H]/_
ii # $%&H]^&_
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# V
z ^V
where and Joint & UY
}
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1,083.02
]!;!_
1,224.78
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26,874.51
][+)LZ_
225.07
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63,995.44
];!"Z"*Z_
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1,434.74
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20,189.41
])+Z"[!_
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45.31
];[!!_
1,416.60
]"Z*+!_
1,450.21
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}
[
i # $:
H
ii }Y%&H
iii # ${}U <U
168.46
])*[+Z_
37.71
]"+[!_
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iv {}U# $UU
v # $ V
vi # $%&H]/_
vii # $%&H]^&_
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-
;
Notes To The Financial Statements For Year Ended March 31, 2015
=V
]Z!+L_
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i ^$
ii ^$Q%>
iii ##z
iv ##z
(d)
Interest Received:
i # $^z/<U
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ii & = U
ii }Y%&H
iii # ${}U <U
iv # $%&H]^&_
v # $%&H]/_
vi # $:
H
67.66
]Z!+_
86.55
]ZL+++_
257.68
]*;L[_
1.38
Q
145.12
]);!)_
329.01
]LL*[_
106.79
]ZZ*[[_
]*[ZL*_
221.51
]""*!_
Rent Received:
i # $OV >
3.00
]Z++_
1.80
]"+_
ii % OY&:Y
]
_
Q
2,660.00
Q
Q
0.02
]!;)L)_
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-
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Notes To The Financial Statements For Year Ended March 31, 2015
=V
Q
(g)
(h)
Purchase of Shares:
i # $:
H
ii # $^z/<U
Ltd.
iii # $:
V
iv # $ V
v }Y:
V
(i)
Salary Paid:
i # $z
ii ^$
113.16
]")L_
17.92
]ZZ"[_
]*LZ"_
34.35
][[!_
33.44
]Q_
Q
Q
Q
Q
]Q_
1,113.31
Q
306.01
]*!;;*_
311.35
]*!;;*_
18.88
]";Z_
20.46
]"ZL*_
iv #$
v
vi </
(j)
Rent Paid:
i ^$
ii ^$Q%>
iii ##z
iv ##z
176.17
]"[++_
61.92
]L*"_
6.00
(6.00)
3.00
]Z++_
6.00
(6.00)
4.92
];+_
[
Notes To The Financial Statements For Year Ended March 31, 2015
=V
v ##z
1.32
]"Z*_
1.20
]"*+_
vi H#z
]$_
Interest Paid:
i # $%&H]/_
ii }Y:
V
iii # $^z/<U
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iii }Y%&H
]_
iv ## $:
VY
Ltd.
Loan Taken
i }Y%&H
108.14
Q
17.74
Q
]Q_
17.48
Q
324.50
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]Q_
Q
(n)
Investments:
i # $:
V
ii # $%&H#^
ii {}U# $UU
iv # $^$z&<= H
v {= H
iii # $/&^H= H
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iv # $</&= H
Ltd.
viii }Y:
V
v # $ V
Q
]*;;_
Q
Q
]Q_
Q ]""ZZ_
Q
]""")_
4,697.50
Q ])[;*;+_
Q
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]Q_
Q
Q
]Q_
5,500.00
Notes To The Financial Statements For Year Ended March 31, 2015
=V
]*;*![)_
Q
Q
Q
Q
221.05
Q
]Q_
1,437.18
]Q_
Q
Q
]";;LZ!_
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v # $}V}
(p)
Q
];Z_
][!*!+_
]");[!"_
988.48
]!+"L;_
1,943.49
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7,292.15
])"*;+)_
37.00
Q
]Z!"*_
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])Z;L;_
L
Notes To The Financial Statements For Year Ended March 31, 2015
=V
, }Y%&H
, # $:
H
9,493.80
]Z*L+[_
190.00
]ZLL"[Z_
(600.00)
]L*"!+_
]!L++_
8,849.98
]"L[L;L!_
(q)
^Y:V
i }Y%&H
ii # $^z/U
iii # $:
H
(r)
#
i # $:
H
2,255.89
][LZL_
];LLZ)_
];++++_
132.77
]!*;+_
45.01
]!ZL)_
41.10
];L*_
21.76
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ii ^$
iii
iv ##z
3.52
]""*_
1.00
]+Z_
v #$
vi # $Q Y
vii </
viii }Y:
V
])**_
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320.31
3.53
])"_
-
L+
Notes To The Financial Statements For Year Ended March 31, 2015
=V
]Q_
]Q_
4,021.72
]Q_
]Q_
8,414.71
]*"Z[*;_
]L!)Z_
v {= H
vi # $Q Y
vii # $</&= H
viii {}U# $UU
, # ${}U <U
(v)
Loan Taken:
i # $Q Y
ii }Y%&H
]""""L_
Q
];!+!!"_
]!*;+++_
1,224.49
Q
]Q_
]Q_
]Q_
2,419.03
]Q_
156.08
]L"_
Q
]*")*_
3,159.10
]*![+;_
]Q_
48.85
]"!*[_
21.37
]*"Z[_
13.43
Q
1,448.37
]*[*;L_
445.42
][*Z;_
L"
Notes To The Financial Statements For Year Ended March 31, 2015
=V
vi }Y%&H
183.11
]Z*+[_
22.20
]";)[_
32.58
]Q_
70.34
])L*[_
381.52
]"Z;[)*_
274.50
]";*"[_
]*"Z;_
2,494.19
]")LL";_
3,222.18
]Q_
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4.70
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2,211.70
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78.85
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3,650.97
]*!;)+_
3,855.27
]Z++!_
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]"Z++)*_
3,360.29
]"+";_
698.62
]*++L_
17.74
]!+L[_
Q
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Notes To The Financial Statements For Year Ended March 31, 2015
=V
38.24
]Q_
Q
]"Z)")_
40.77
]Z;*!+)_
.
Q
141.94
]*L;"++_
20.00
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40.00
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21.50
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1.00
(1.00)
Q
40.00
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(y)
]Q_
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LZ
Notes To The Financial Statements For Year Ended March 31, 2015
(V) AS 29 Details of Provisions
(a)
V
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Y
Y
made during &
+"Q#<Q*+")
the period
the period
(a) Y
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^
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0.00
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(d) Y
^
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>
As at 31-Mar-15 #Z"QQ")
31.50
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14.50
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3.10
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0.81
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49.91
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>
As at 31-Mar-15 #Z"QQ")
799.99
14.27
-
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Notes To The Financial Statements For Year Ended March 31, 2015
(VIII) Details of Capacity & Raw Material Consumption and Purchase of Trading Goods
(a) Materials Consumption
(`V_
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As at 31-Mar-15 #Z"QQ")
2,884.17
Cement
*;"LZ"
222.94
{{/
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318.60
>#
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1,010.45
;!!
1,019.58
Z)
529.57
V V
))+"*
90.85
;;+L
Total
6,076.17
5,196.28
V
Imported
:&
=
(IX) Contingent Liabilities
V
(a) /${$
Y
<
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(c) & < V$ H&
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(X) DIRECTOR'S REMUNERATION
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(` V_
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Q
6,076.17
;"L!*
6,076.17
;"L!*
As at 31-Mar-15
(`V_
#Z"QQ")
85,066.79
111,142.20
[+;!L)
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350.65
13.18
39.18
4,538.50
237.06
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[+L[[
(`V_
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803.16 !["""
9.71 ""Z!
42.58 *;!+
855.45 [++[
L;
Notes To The Financial Statements For Year Ended March 31, 2015
28
(I)
VHV
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(III)
(IV)
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Notes To The Financial Statements For Year Ended March 31, 2015
(V)
Revenue Recognition
(a)
]_
Construction Contracts
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<V #Q[ V V =$ V
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(VI)
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incurred.
L[
Notes To The Financial Statements For Year Ended March 31, 2015
{
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98
2.
3.
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with the accounting principles generally accepted in
:V&#VV &<V
Section 133 of the Act, read with Rule 7 of the Companies
(Accounts) Rules, 2014, particularly Accounting Standard
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Standard 23, Accounting for Investments in Associates in
>V=<VY/
of Directors of the companies included in the group are
responsible for maintenance of adequate accounting
records in accordance with the provisions of the Act for
safeguarding of the assets of the respective companies and
for preventing and detecting frauds and other irregularities;
selection and application of appropriate accounting policies;
making judgments and estimates that are reasonable and
prudent; and design, implementation and maintenance of
\
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effectively for ensuring the accuracy and completeness
of the accounting records, relevant to the preparation and
<
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fair view and are free from material misstatement, whether
due to fraud or error.
Auditors Responsibility
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3.2 We have taken into account the provisions of the Act,
the accounting and auditing standards and matters
which are required to be included in the audit report
under the provisions of the Act and the Rules made
there under.
3.3 We have placed reliance on audit reports issued by
auditors of subsidiary companies, referred to in the
paragraph on Other Matters stated below, and on
4.
5.
VY
such controls. An audit also includes evaluating the
appropriateness of accounting policies used and the
reasonableness of the accounting estimates made by
Holding Companys Directors, as well as evaluating
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3.5 We believe that the audit evidence obtained by us
and the audit evidence obtained by other auditors,
in terms of their report, referred to in the paragraph
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appropriate to provide a basis for our audit opinion on
V
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Opinion
In our opinion and to the best of our information and
VV & ,< &Y <V&
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statements of the company, its subsidiaries and associates,
V
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information required by the Act in the manner so required
and give a true and fair view in conformity with the
accounting principles generally accepted in India, of the
state of affairs of the Group as at March 31, 2015, and its
<
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Emphasis of Matter
Without qualifying our audit opinion, we invite attention
to:
a) Additional statement of Notes no. 28 III (2) regarding
recognition of liability in respect of additional
concession fee aggregating to R 7,58,930.43 lakhs
payable to NHAI.
b)
6.
7.
e.
8.
9.
99
100
6.
Name of
the Company
Ashoka
Buildcon
Financial
Year
(
2000-01
2006-07
to
2009-10
2006-07
to
2010-2011
2006-07
to
2010-2011
2007-08
2005-06
to
2006-07
*++!Q+[
2009-10
2014-15
2010-11
2009-10
2008-09
2013-14
2003-04
2011-12
V
i
v
a 2007-08
Infrastructure 2008-09
Total
Amount
Particulars
in lakhs)
93.34 Customs
404.57
44.11
587.00
59.01 YV=,
71.11 YV=,
2252.60 =,
8.47
82.24
22.32
2.18
25.87
358.80
20.99
6.09
5.09
=,
=,
=,
=,
O=,
:V =,
:V =,
:V =,
:V =,
101
Authority
Asst. Commissioner of Customs, Mumbai
&
#
YV=,$
# ] O,V
YV=,_$
Joint Commissioner (Appeal), Maharashtra
Deputy Commissioner (Appeal), Tamilnadu
Joint Commissioner, Bengal
Deputy Commissioner (Appeal), Chhattisgarh
Deputy Commissioner (Appeal), Gujarat
High Court - Writ Petition
DCIT, Nashik
DCIT, Nashik
:V =,#<<
:V =,#<<
4,043.79
]V_ ^& H\
:Y OV V >
accordance with the relevant provisions of the Companies Act, 2013 and the Rules made there under.
"+ =% & <V <Y VV
V=H
V V
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VHowever, two subsidiary companies have accumulated
8'
$
$&
'
'$
'
!$
$
$!
#'
$'$
!$
"" #VV &
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<
$
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"* #VV &
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$
& <V <
$
V
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be obtained, which in our opinion are generally not prima-facie prejudicial to the interest of the Company.
In the opinion of auditors of one of the subsidiary companies, the said subsidiary company has given guarantee for loans taken
$
V V H
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to the interest of the Company.
"Z /
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obtained. Three subsidiary companies have not availed any term loan during the year.
") #VV &
,< &Y <VY
% & <
subsidiary companies, no instances of material fraud on or by each company have been noticed or reported during the course
of audit by the statutory auditors of the Holding Company, its subsidiary companies
For M P Chitale & Co.
Chartered Accountants
:#:>U "+";"J
Murtuza Vajihi
Partner
ICAI M No. 112555
Place : Mumbai
Date : May 13, 2015
102
As at
31-Mar-2014
(` in Lacs)
1
2
7,931.33
127,760.45
135,691.78
50,474.81
7,897.65
116,896.88
124,794.53
1,489.12
46,452.47
3
4
5
358,373.66
777,967.58
10,327.89
1,146,669.12
296,209.73
776,060.83
7,195.34
1,079,465.90
5
(a) Short-Term Borrowings
(b) Trade Payables
(c)
(d) Short-Term Provisions
6
7
8
9
20,057.64
63,316.70
40,419.75
9,453.88
133,247.97
1,466,083.69
14,110.93
57,014.95
20,614.07
7,883.68
99,623.63
1,351,825.65
16,122.29
1,241,000.87
1,241,000.87
2,550.50
12,501.45
12,501.45
1,272,175.10
21,979.35
994.50
35,786.84
8,762.54
1,339,698.33
17,835.57
400,730.74
16,062.33
384,668.41
2,686.85
829,288.54
35,768.90
793,519.64
1,198,710.47
19,513.93
206.22
23,021.39
7,323.94
1,248,775.95
1,473.50
72,856.09
36,444.38
4,098.10
10,148.44
1,364.84
126,385.36
1,466,083.69
8,955.40
62,717.62
13,050.38
9,449.19
7,857.65
1,019.26
103,049.50
1,351,825.65
Total
II
As at
31-Mar-2015
(` in Lacs)
ASSETS
1 Non-Current Assets
(a) >,#
(i) Tangible Assets
(ii) Intangible Assets
X= V
10
(b)
(c)
(d)
(e)
Non-Current Investments
^
=,#
&Q= #YV
Other Non-Current Assets
2 Current Assets
(a) Current Investments
(b) Inventories
(c) Trade Receivables
(d) Cash and Bank Balances
(e) Q= #YV
(f) Other Current Assets
&
V#VV & V#
As per our report of even date attached
For M.P. CHITALE & Co.
#VV
(Murtuza Vajihi)
'
Place : Mumbai
Date : May 13, 2015
11
12
13
14
15
16
17
18
19
20
Total
28
(Paresh C. Mehta)
|
(Satish D. Parakh)
`
DIN - 00112324
Place : Mumbai
Date : May 13, 2015
(Ashok M. Katariya)
|
DIN - 00112240
103
|
'
+
?<
<Z
Particulars
Note No.
Year Ended
Year Ended
31-Mar-2015
31-Mar-2014
(` in Lacs)
(` in Lacs)
21
231,971.49
179,487.75
II
Other Income
22
2,903.09
2,971.59
234,874.58
182,459.35
4,329.53
3,943.16
III
IV
O,<X
Purchase of Stock - In - Trade
Changes in inventories of Stock - In - Trade
(4,329.53)
(3,943.16)
<&O,<
23
159,579.62
124,266.25
24
7,539.02
5,614.77
25
7,541.36
5,828.43
>VO,<
26
27,210.60
13,353.97
15,267.99
14,153.06
(97.13)
(262.45)
27
=,]:::Q:}_
VI
O,V< :U
")]_
VII
=,]}Q}:_
10,012.63
5,563.13
227,054.09
168,517.15
7,820.49
13,942.20
1,568.85
7,820.49
12,373.35
8,541.85
7,021.24
201.91
(5.08)
(788.28)
(136.46)
7,955.48
6,879.70
(134.99)
5,493.65
(8,283.26)
(4,251.27)
8,148.27
9,744.92
Basic
5.15
6.17
Diluted
5.14
6.14
VIII =,O,<X
=,
=,> O|
^
=,
IX
< ]}::Q}:::_
X
]_
XI
,]
_
XII
Place : Mumbai
Date : May 13, 2015
28
(Paresh C. Mehta)
|
(Satish D. Parakh)
`
DIN - 00112324
Place : Mumbai
Date : May 13, 2015
(Ashok M. Katariya)
|
DIN - 00112240
104
Consolidated Cash Flow Statement for the year ended March 31, 2015
Year Ended 31-Mar-2015
(` in Lacs)
(` in Lacs)
(` in Lacs)
##%>J>UOU#=:{#=:}:=:OX
/
O, :=,
7,820.49
13,942.20
Adjustment for :
O,V<
Depreciation and Amortisation
]
_
#
1,568.85
15,170.86
13,890.61
(17.51)
(94.33)
]
_
} # V< V
2,881.46
723.60
(122.74)
(76.99)
729.07
29.86
27,210.60
45,851.74
13,353.97
53,672.23
29,395.57
43,337.76
#
V&<&#X
(Increase) / Decrease in Trade and Operating Receivables
(39,767.76)
(10,138.47)
36,739.27
(6,892.98)
(8,730.19)
(13,166.96)
15,238.85
40,505.27
Minority interest
:V =,
O=#%>J>UOU#=:{#=:}:=:O
(384.32)
42,953.45
7,220.78
2,641.45
(8,743.76)
38,982.29
(7,016.16)
38,578.73
/#%>J>U:}O=:{#=:}:=:OX
V
>,#V&:&#^Y <
Purchase / Sale of Investments ( Net )
Y&VY
Reduction in Share Premium
(88,715.09)
(108,022.73)
5,065.29
(254.98)
(2,758.72)
(646.61)
5,188.03
16,699.01
(81,220.50)
(92,225.30)
#%>J>U>:#:{#=:}:=:O
V
V&<]
,<_
Repayment of Share Application money
429.84
(1,489.12)
140,542.67
Repayment of Borrowings
68,110.64
(66,633.60)
(2,904.83)
(2,655.74)
(27,210.60)
(13,353.97)
36,935.93
57,899.36
:V:O\Y
(5,302.27)
4,252.79
6,885.76
1,583.49
2,632.97
6,885.76
Notes :
"=<&=UVYV
=UVY Q &Q #YV#
*=<&=V
&Q= &Q Q Y
ZO\YV <
VH$VVV V < &H
VZ"*+";
As per our report of even date attached
For M.P. CHITALE & Co.
#VV
(Murtuza Vajihi)
'
Place : Mumbai
Date : May 13, 2015
(Paresh C. Mehta)
|
(Satish D. Parakh)
`
DIN - 00112324
Place : Mumbai
Date : May 13, 2015
(Ashok M. Katariya)
|
DIN - 00112240
105
Notes of The Consolidated Financial Statements For Year Ended March 31, 2015
1
SHARE CAPITAL :
(I)
Authorised Capital
Class of Shares
Par Value
(`)
As at 31-Mar-2015
Nos of Shares
Equity Shares
Preference Shares
Total :
5
100
Equity Shares
Preference Shares
0% Redeemable Non - Convertible
Total :
5
100
248,000,000
-
As at 31-Mar2015
Nos of Shares
158,626,623
-
As at 31-March-2014
Amount
`V
12,400
12,400
Amount
`V
7,931.33
-
Nos of Shares
162,200,000
-
As at
31-March-2014
Nos of Shares
157,953,090
-
7,931.33
Amount
`V
8,110
8,110
Amount
`V
7,897.65
7,897.65
As at
As at
31-Mar-2015 31-March-2014
Equity
Equity
Shares
Shares
157,953,090
52,651,030
673,533
52,651,030
52,651,030
158,626,623
157,953,090
Outstanding as at 01-Apr-2014
Addition during the period
Shares Split
Bonus Issue
Matured during the period
Outstanding as at 31-Mar-2015
Ashok M. Katairya
Asha A. Katariya
Ashish A. Katariya
##zQ%>
Astha A. Katairya
:^>= Q:^>:
V
>*#V:^>O>::
Satish D. Parakh
^$Q%>
Shobha S. Parakh
As at 31-Mar-2015
Equity
Preference
Shares
Shares
As at 31-March-2014
Equity
Preference
Shares
Shares
13,087,220
12,473,598
11,109,372
9,164,234
-
13,087,220
7,905,240
12,311,796
11,109,372
9,164,234
9,411,957
11,808,195
10,780,575
10,586,410
11,808,195
10,780,575
10,586,410
106
Notes of The Consolidated Financial Statements For Year Ended March 31, 2015
% &
##zH ;>|*+"ZQ")
H;V< %V
held by Asha A. Katariya in the current period has not been disclosed.
(v) Shares held under Employee's Stock Option:
The Board of Directors of the company has approved creation of an Employee Stock Option on December 13, 2007. The company
& V$ <
[++;+ ^V";*++[,V<V
` 190 per share. Options granted will be
Y Y<
Y
VY& VV^V";*+"+ <V
/ V <OV/
^V
,V<VY
< :VV VH<
V
,VV<V
H` 63.33
Particulars
As at 31-Mar-15
No.of
O,V
options
Price
(`)
As at 31-Mar-14
No.of
O,V
options
Price
(`)
187,980
659,307
63.33
63.33
463,431
1,110,711
63.33
63.33
<
Growth Option
<
Growth Option
1,128
4,306
9,888
25,953
<
Growth Option
163,804
509,729
63.33
63.33
63.33
63.33
< ";"**+"Z
<
Growth Option
265,563
425,451
63.33
63.33
< ";"**+")
<
Growth Option
19,968
32,395
<
Growth Option
3,080
112,877
187,980
659,307
63.33
63.33
<
Growth Option
3,080
112,877
>
&<
O,V
<
187,980
659,307
Guidance Note on Accounting for employee share based payment's issued by the Institute of Chartered Accountants of India
VVV &< &<V<
< <<
= <<<:V}
#VV &=
VH>}
O\
VZ"*++]& :V$_,V<V` Nil. Accordingly no Compensation
YY&< VY&<
107
Notes of The Consolidated Financial Statements For Year Ended March 31, 2015
2
General Reserve
Balance as per last Balance Sheet
# ^&|
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Balance at the end of the year
iv) Surplus
/V</V
#]_XV&Y
# V:Y}
Addition during the year ( Net of Minority Shares )
^V ^&|
Interim Dividend
Proposed Dividend
^Y^ =,]_
Transferred to General Reserve
Debenture Redemption Reserve
X&Y :
Balance at the end of year
v)
As At
31-Mar-15
(`V_
As At
31-Mar-14
31,201.49
392.87
(3.29)
31,597.65
33,843.80
2,632.55
9.76
31,201.49
3,750.00
3,750.00
3,200.40
3,200.40
1,557.57
1,642.83
3,200.40
61,524.31
550.86
8,148.27
58,643.38
(965.35)
9,744.92
1,109.80
1,311.05
483.98
3,750.00
1,065.77
62,502.84
1,144.85
1,263.62
247.27
1,642.83
1,600.07
61,524.31
20,970.68
5,738.88
4,271.67
16,699.01
26,709.56
127,760.45
20,970.68
116,896.88
(i) = & <# $/V V V Y VY
of `";++V=V
,
"+Z"<=<\&
August 2016. The company has voluntarily created debenture redemption redemption reserve of 25% of the face value by utilising
the blance in surplus account.
108
Notes of The Consolidated Financial Statements For Year Ended March 31, 2015
3
Debentures
Sub Total - (II)
Grand Total - (I+II)
As At
31-Mar-15
(`V_
As At
31-Mar-14
220,834.92
88,337.91
309,172.83
189,331.06
92,296.30
281,627.37
7,969.71
4,578.56
2,149.32
34,503.24
49,200.83
358,373.66
11,273.98
610.00
100.00
2,598.38
14,582.36
296,209.73
=
# $/&^H= HY <
<<
National Highway Authority of India (NHAI), such delay has been done for the month of September 2014 to March 15. Hence, the amount
V^
<# $ V ZV
< Y^]^_Y
#/<V V< #&#&""*+"*=
are as follows:ISSUE AND PRICE
#/^ :Y V\/::
V:Y/:V\:
V
Trust,
#^Y
VY
` 10/- each at a premium of ` 997.15/- each,
/^Y
VY
` 10/- each and are issued at par.
^Y
VY
` 10/- each at a premium of ` 322.22/- each
TENURE AND CONVERSION
The tenure of the CCD's is 18 years from the date of its issue.
- Class A
Each class A debenture will convert into one equity share of the company such that post conversion, the shares resulting from the conversion,
together with the Investor Purchase Shares Collectively represent between 34% and 39% of the share capital of the company and the
proportion of such shares resulting from conversion ( Between 34% to 39% ) will be based on the Adjusted revenue of Ashoka Sambhalpur
/& HYVV VH V
V Y
-Class B
/^ VV Y V < ,V
V Y
V#^/^
will convert into one equity share if the IRR received by investor is higher than the 12%/25%/protected IRR and if the IRR received by
investors is less than 12% it will get converted into such additional shares in order to ensure that the concerned investor receives a minimum
IRR of 12%.
-Class C
Class C CCD's would be converted into shares so that the shares received by the promoter on such conversion, along with the promoter
shares represent the balance proportion of the share capital of the company.
Notes of The Consolidated Financial Statements For Year Ended March 31, 2015
a)
Sr. No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
Terms of Repayment
Particulars of Lender
Nature of
Loan
From Banks / Financial Institures :#,/$
Equipment
%^>/$
Equipment
%^>/$
Equipment
%^>/$
Equipment
%^>/$
Equipment
%^>/$
Equipment
%^>/$
Equipment
%^>/$
Equipment
%^>/$
Equipment
%^>/$
Equipment
%^>/$
Equipment
%^>/$
Equipment
%^>/$
Equipment
%^>/$
Equipment
%^>/$
Vehicle
%^>/$
Vehicle
%^>/$
Vehicle
%^>/$
Equipment
%^>/$
Equipment
%^>/$
Vehicle
%^>/$
Equipment
%^>/$
Equipment
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Vehicle
:::/$
Equipment
EMI Amount
( ` in Lacs)
7.09
1.78
3.39
5.37
5.36
18.62
13.10
19.14
25.07
23.99
4.08
17.82
8.23
1.50
0.87
0.30
0.28
1.38
4.12
0.56
0.27
3.21
1.83
0.66
0.61
1.51
1.64
1.05
0.55
0.13
0.15
0.19
0.61
0.17
0.32
0.67
0.24
0.98
1.31
1.09
0.78
0.79
0.52
0.32
3.27
0.93
Mode of
Repayment
36 EMIs
41 EMIs
42 EMIs
37 EMIs
37 EMIs
24 EMIs
28 EMIs
30 EMIs
7 EMIs
6 EMIs
13 EMIs
16 EMIs
33 EMIs
40 EMIs
33 EMIs
36 EMIs
39 EMIs
42 EMIs
42 EMIs
42 EMIs
45 EMIs
45 EMIs
11 EMIs
19 EMIs
23 EMIs
29 EMIs
26 EMIs
30 EMIs
33 EMIs
33 EMIs
33 EMIs
33 EMIs
36 EMIs
36 EMIs
36 EMIs
40 EMIs
40 EMIs
40 EMIs
40 EMIs
43 EMIs
30 EMIs
31 EMIs
32 EMIs
32 EMIs
43 EMIs
43 EMIs
Type of
Interest
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
>,
Maturity Date
20-Mar-18
20-Aug-18
05-Sep-18
20-Apr-18
20-Apr-18
01-Mar-17
05-Jun-17
01-Sep-17
15-Oct-15
01-Sep-15
05-Apr-16
15-Jul-16
01-Dec-17
05-Jul-18
05-Dec-17
05-Mar-18
15-Jun-18
05-Oct-18
01-Oct-18
05-Oct-18
05-Dec-18
05-Dec-18
15-Jan-16
15-Oct-16
+"Q>Q"[
15-Aug-17
15-May-17
15-Sep-17
01-Dec-17
15-Dec-17
15-Dec-17
15-Dec-17
01-Mar-18
01-Mar-18
10-Mar-18
01-Jul-18
01-Jul-18
01-Aug-18
10-Jul-18
01-Oct-18
15-Oct-17
15-Oct-17
15-Nov-17
15-Nov-17
01-Oct-18
10-Oct-18
Nature of Securities
U<VYV
U<VYV
U<VYV
U<VYV
U<VYV
U<VYV
U<VYV
U<VYV
U<VYV
U<VYV
U<VYV
U<VYV
U<VYV
U<VYV
U<VY}V
U<VY}V
U<VY}V
U<VYV
U<VYV
U<VY}V
U<VYV
U<VYV
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
U<VY}V
109
110
Notes of The Consolidated Financial Statements For Year Ended March 31, 2015
47
48
Abhijeet Ashoka
:
VY
:^>
49
Bank of Baroda
Demand
375-458
General
Corporate
V
31-Mar-17
30.80
01-Jul-23
50
51
52
53
54
::>
Punjab National Bank
State Bank of India
STATE Bank of India - Indore
:::/$
V
V
V
V
V
41.80
41.80
52.80
13.20
19.25
111 EMIs
111 EMIs
111 EMIs
111 EMIs
126 EMIs
> &U
> &U
> &U
> &U
> &U
55
56
::
^
Punjab National Bank
V
V
21.30
0.47-98.78
57
58
59
60
V
V
V
V
0.34-71.44
0.47-98.78
0.35-74.08
0.38-79.38
321 EMIs
321 EMIs
321 EMIs
321 EMIs
61
/>V
:^>
::>
=:
V>V
<
Punjab National Bank
V
1.38-226.19
62
63
64
65
66
#,/$
Bank of Baroda
Bank of India
::>
#,/$
V
V
V
V
V
1.79-294.73
1.38-226.19
0.83-137.08
1.38-226.19
3.55-603.50
156 EMIs
156 EMIs
156 EMIs
156 EMIs
154 EMIs
> &U
> &U
> &U
> &U
> &U
67
68
69
70
71
72
73
74
V
V
V
V
V
V
V
V
0.83-141.67
1.67-283.33
0.83-141.67
2.67-453.33
1.67-283.33
0.83-141.67
0.83-141.67
1.67-283.33
154 EMIs
154 EMIs
154 EMIs
154 EMIs
154 EMIs
154 EMIs
154 EMIs
154 EMIs
> &U
> &U
> &U
> &U
> &U
> &U
> &U
> &U
> &U
> &U
> &U
> &U
- 0
111
Notes of The Consolidated Financial Statements For Year Ended March 31, 2015
4
As At
31-Mar-15
12,021.61
2.00
17,742.81
5.73
(`V_
As At
31-Mar-14
575.00
10,920.93
2,104.28
748,195.43
777,967.58
762,460.62
776,060.83
Suppliers/Service providers covered under Micro, Small Medium Enterprises Development Act, 2006 have not furnished the information
&&
&
V H<< < :YH
\ V **
the said Act is not given
:
# $:
HJ^ <<& V V H
V
"[
>*+";&V V&V < V V #&***+";HV
V V< V HVV <
V \
amount of `**!"+$V V
>"[*+"; VZ"*+"; :V
:
# $^z/<U = V V
V & ,< <"[*+")V <
was allowed to collect toll vide order of Hon High Court of Jabalpur, as the company had won arbitration award on account of claims
VV &< H ,
=
YV
V
V V $<OV H
VV H $# V V \ ,<
V Y V <
the company does not enjoy the rights of toll collection amount the same is not recognised as income. Toll collection, deposit to bank and
>^V <% %& V & %#:
5
As At
31-Mar-15
(`V_
As At
31-Mar-14
3,920.07
6,247.77
1,666.53
5,396.66
150.78
9.27
10,327.89
124.69
7.46
7,195.34
As At
31-Mar-15
(`V_
As At
31-Mar-14
10,518.66
9,538.98
7,480.64
6,027.09
20,057.64
603.20
14,110.93
112
Notes of The Consolidated Financial Statements For Year Ended March 31, 2015
a)
Terms of Repayment
> /$
#,/$
Bank of India
Corporation Bank
Indian Bank
State Bank of India
Bank of Maharashtra
>/$
Canara Bank
Nature of Loan
Terms of Repayments
Type of Interest
Rate of interest is
based on Banks
Base Rate
Nature of Loan
TRADE PAYABLES
(`V_
Particulars
As At
31-Mar-15
51,032.48
12,284.22
63,316.70
As At
31-Mar-14
49,724.23
7,290.72
57,014.95
Suppliers/Service providers covered under Micro, Small Medium Enterprises Development Act, 2006 have not furnished the information
&&
&
V H<< < :YH
\ V **
the said Act is not given.
8
As At
31-Mar-15
As At
31-Mar-14
Total :
8,832.30
18,427.32
606.75
2,705.36
3,064.99
1,525.90
5,218.02
2.18
36.86
0.06
40,419.75
8,940.10
208.43
7,792.01
1,514.08
2,013.37
0.86
143.17
2.05
20,614.07
Total
As At
31-Mar-15
6,548.51
3.39
12.54
1,309.48
261.82
1,318.16
9,453.88
(`V_
As At
31-Mar-14
5,901.28
3.90
46.66
1,263.62
214.75
453.48
7,883.68
&=^]U
Z_
Current Maturities of NHAI Premium
Interest Accrued but not due
Advance from Customers
Advance from Customers Under the Same Management
^=,
<O,<
:>^Y<
Other Payables
Income Received in advance
9
SHORT-TERM PROVISIONS
Particulars
Provision for Schedule Maintenance
Provision for Gratuity
Provision for Compensated Absences
< >^Y O\
Y
^Y^ =,
Y
=, ]_
TANGIBLE ASSETS
>
Buildings
>V /&
Computers
VO\<
>>,
V
Vehicles
TOTAL(I)
INTANGIBLE ASSETS
Goodwill ( Due to Consolidation)
V V= #Y
Software
TOTAL (II)
Capital Work - In - Progress
Intangible Assets Under Development
( Refer Note 28 (I) (g) )
TOTAL (III)
Total of ( I ) ( II ) & ( III )
Particulars
FIXED ASSETS :
868,514.01
868,514.01
4,385.95
87,489.78
91,875.73
963,952.58
796,206.49
1,263,383.67
353.87
141.38
263.91
63.20
2,069.43
671.05
3,562.85
873,030.27
892,051.79
17,228.91
17,228.91
4,516.26
868,514.01
113.71
8.55
65.82
9.65
2.97
1,679.80
(87.89)
1,792.61
GROSS BLOCK
Addition during
Sale /
the period
Adjustment
during the
period
609.24
433,400.99
33.34
434,043.58
2,686.85
793,519.64
283.14
400.42
2,687.91
153.64
720.39
499.22
427.50
25,947.62
2,013.76
33,133.60
As at
1-Apr-14
15,051.94
1,335,284.46
609.24
1,284,686.09
33.34
1,285,328.68
2,556.53
12,495.41
283.14
286.71
3,033.23
153.64
795.95
753.48
487.74
26,337.26
2,772.70
34,903.85
As At
31.03.2015
64,673.19
49,346.76
28.40
49,375.16
15,267.99
10,643.71
3.21
10,646.93
-
9.29
119.24
8.18
130.22
204.06
72.91
3,521.88
555.29
4,621.06
16,831.81
15,694.28
15,694.28
-
64.10
8.73
2.66
1,038.48
23.55
1,137.53
63,109.37
44,296.19
31.62
44,327.81
-
9.29
492.44
68.55
628.57
409.85
270.47
15,351.94
1,550.46
18,781.56
373.20
60.37
562.45
214.52
200.22
12,868.55
1,018.71
15,298.03
As at
1-Apr-14
15,051.95
1,272,175.11
609.24
1,240,389.90
1.73
1,241,000.87
2,556.53
12,495.42
273.85
286.71
2,540.79
85.09
167.39
343.63
217.27
10,985.31
1,222.25
16,122.29
NET BLOCK
As At
31.03.2015
( `V_
VY
"#<*+") <Y
Y
,#V \V
VY V&
depreciation for the period is higher than the previously applied rates by `";L[L!V
C)
D)
B)
1)
2)
3)
A)
1)
2)
3)
4)
5)
6)
7)
8)
9)
No.
10
Notes of The Consolidated Financial Statements For Year Ended March 31, 2015
113
1
3
4
5
Particulars
As at
1-Apr-13
As At
31.03.2014
Under Construction
Belgaum Dharwad
Sambhalpur
Dhankuni
# $$#&= H
64,673.19
1,994.18
14,022.68
49,346.76
28.40
49,375.16
-
373.20
60.37
562.45
214.52
200.22
12,868.55
1,018.71
15,298.03
1,283.22
1,283.22
-
12.28
0.17
575.23
123.28
710.96
11,123.05
2.44
11,125.49
-
64.27
10.52
64.66
42.51
33.43
2,429.05
252.74
2,897.19
TANGIBLE ASSETS
283.14
283.14
>
403.38
2.18
5.13
400.42
Buildings
1,374.93
1,439.91
126.93
2,687.91
321.22
>V /&
153.28
0.57
0.22
153.64
49.84
Computers
616.91
103.48
720.39
497.79
VO\<
372.18
128.42
1.38
499.22
172.18
>>,
277.33
150.16
427.50
166.79
V
25,577.35
1,362.82
992.55
25,947.62
11,014.73
Vehicles
1,662.83
500.91
149.97
2,013.78
889.25
TOTAL(I)
30,721.33
3,688.45
1,276.18
33,133.60
13,111.81
INTANGIBLE ASSETS
Goodwill ( Due to Consolidation)
609.24
609.24
V V= #Y
171,384.26
263,560.72
1,543.98 433,400.99
39,506.92
Software
33.34
33.34
25.96
==#]::_
172,026.85
263,560.72
1,543.98 434,043.58
39,532.88
Capital Work - In - Progress
2,445.54
3,938.19
3,696.87
2,686.85
Intangible Assets Under
958,022.19
98,480.95
262,983.50 793,519.64
Development ( Refer Note 28 (I) (g) )
TOTAL (III)
960,467.72
102,419.14
266,680.37 796,206.49
Total of ( I ) ( II ) & ( III )
1,163,215.90
369,668.30
269,500.53 1,263,383.67
52,644.69
Buildings includes ` *++++V]Y ` *++++V_
HV=
,V
= <$&
H&< V /<=
]/=_Y= V X
Sr. No.
1
2
3
4
5
6
7
8
9
10
11
12
i)
ii)
C)
D)
B)
1)
2)
3)
A)
1)
2)
3)
4)
5)
6)
7)
8)
9)
No.
GROSS BLOCK
Addition during Sale / Adjustment
the period
during the period
796,206.49
1,198,710.48
609.24
384,054.23
4.94
384,668.42
2,686.85
793,519.64
283.14
400.42
2,314.71
93.27
157.93
284.70
227.28
13,079.06
995.07
17,835.57
( `V_
NET BLOCK
As At
31.03.2014
114
ANNUAL REPORT 2014-2015
115
Notes of The Consolidated Financial Statements For Year Ended March 31, 2015
11 NON-CURRENT INVESTMENTS ( Unquoated )
Particulars
TRADE INVESTMENTS :
In Partnership Firms / Association of Persons (AOPs) / Joint Ventures
Cube Ashoka Joint Venture
Ashoka Bridgeways
In Associates :
(a) Equity Shares of ` 10/- each fully paid-up :
)++++++])++++++_
## $:
VY
L);+++++])[;*;+++_{}U# $UUQO\
)ZL!!+++])ZL!!+++_
{= H
!"!)++++]!"!)++++_
& = U Y
(b) Preference Shares-fully paid-up :
*!*;++]*!*;++_
## $:
VY
(c) Other Investments in Equity
;;;Z[+]_:%&H&
II. OTHER INVESTMENTS :
(a) Co-operatives / Societies :
UY}H Q <% & V
& $/$
U< </$
(b) Others :
Y&
V
Immovable Properties :
Total :
(`V_
As At 31-Mar-15 As At 31-Mar-14
I.
0.58
(579.56)
0.66
(395.77)
5,740.73
9,420.78
7,048.31
5,030.76
4,723.28
2,531.55
6,853.36
283.50
283.50
55.54
0.00
0.03
6.63
0.00
0.03
6.63
2.80
21,979.35
2.80
477.13
19,513.93
# $:
V
# $:
H
}Y%&H
# $$Q#&= H
# $^zU V
# $=V &Y
# $ V
# $V Y
}Y:
V
# ${}U <Y
Ashoka Highway Ad
Ashoka Infrastructures
Ownership as on Ownership as on
31-Mar-2015
31-Mar-2014
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
99.89%
99.89%
100.00%
100.00%
66.00%
66.00%
51.00%
51.00%
100.00%
100.00%
51.00%
51.00%
99.99%
99.99%
99.99%
99.99%
116
Notes of The Consolidated Financial Statements For Year Ended March 31, 2015
Sr.No.
Name of Concern
Ownership as on Ownership as on
31-Mar-2015
31-Mar-2014
1
## $:
VY
50.00%
50.00%
2
{}U# $UU
50.00%
50.00%
(C) The Following companies have been consolidated as subsidiaries since one of the subsidiary of Ashoka Buildcon
Ltd. i.e. Ashoka Concession Ltd. holds more than 50% of the equity in this company. Details of the holding in such
companies through Ashoka Buildcon Ltd. and Ashoka Concessions Ltd. is as under :Sr.No.
Name of Concern
Ownership as on
Ownership as on
31-Mar-2015
31-Mar-2014
Ashoka
Ashoka
Ashoka
Ashoka
Buildcon
Concessions
Buildcon
Concessions
Ltd.
Ltd.
Ltd.
Ltd.
1
# $%&H]^&_
0.00%
51.00%
0.00%
51.00%
2
# $%&H]/_
0.00%
51.00%
0.00%
51.00%
3
# $/&^H= H
0.00%
100.00%
0.00%
100.00%
4
# $</&= H
0.00%
100.00%
0.00%
100.00%
5
# $^$z&<= H
0.00%
100.00%
0.00%
100.00%
(D) The Following companies have been consolidated as associates since one of the subsidiary of Ashoka Buildcon Ltd.
i.e. Ashoka Concession Ltd. holds more than 20% of the equity in this company. Details of the holding in such
companies via ABL and ACL is as under :Sr.No.
Name of Concern
Ownership as on
Ownership as on
31-March-2015
31-March-2014
Ashoka
Ashoka
Ashoka
Ashoka
Buildcon
Concessions
Buildcon
Concessions
Ltd.
Ltd.
Ltd.
Ltd.
1
{= H
26.00%
26.00%
2
Jaora Nayagaon Toll Road Co. Pvt Ttd,
23.00%
23.00%
:
V < Y# $ :
V V V V
directive of the Employer, The subsidiary Company has initiated arbitration proceeding towards such discontinuance. The
V
VY& V <
< \Y
Y
the Company in the subsidiary continues to be at its full value.
# $ /V ; $ Y# $ /&H : <
&
holding of a mere 5% stake would not result in joint control of the entity, hence, the same has not been consolidated in
< =& V Y<<
V <
the management, they are not in the nature of a joint ventures.
The company has entered into a Joint Venture with Cube Construction which is in the nature of a Jointly controlled entity.
# $/V Y` 0.66 lacs in the company. Management has not consolidated this entity since the
transactions in the company for the year ended March 31, 2015 are not material.
(i) ^
:Y<>
Name of Partnership & Partners
Ashoka Bridgeways
# $/V
# $/]$_Y
'
5.00%
95.00%
As at
As at
31-Mar-2015 31-Mar-2014
(579.56)
1,742.15
(395.77)
1,470.74
(ii)
:Y
<
H&Y<&H>V: /$
V&
VV, V <&X
Equity Shares of `10 each of:
)++++++## $:
VY
**)**!!+{= H
);)LZZ[ & = U <Y
117
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
12 DEFERRED TAX ASSETS
Particulars
(`V_
As At 31-Mar-15 As At 31-Mar-14
(`V_
As At 31-Mar-15 As At 31-Mar-14
4,918.43
4,115.52
329.00
3,786.52
57.33
0.25
8,762.54
5,249.76
2,046.59
238.36
1,808.23
260.77
5.18
7,323.94
118
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
(a) Toll collection at Sherinallha Toll has been stop due to local agitation at the toll.The Company is in the process of raising
the claim to PWD Maharashtra. Pending such claim, the balance written down value of assets ` 260.77 lakhs has been
V
V &&
15 CURRENT INVESTMENTS
Particulars
(`V_
As At 31-Mar-15 As At 31-Mar-14
In Mutual Funds
!+![+"[]_:::> V
[L)"Z;]Z))ZL+"[)_=\>QO,&Q<:{ H
]"))[L[*+_= =/ >QO,&
]Z")L"!_:^>>Q{ H
]*;+;Z_:^> =>Q{ H
95.312.(31 March 2014 : 2,380.76 units of Union KBC Mutual fund)
]"")"Z)[_UV\>Q=Q{ H
]["*;*_UV &>Q{ H
ZL;[+)U&:YV \>{ H
";;)!Z*[%^>\>Q{ H]>_
/ =#Y&>
*+L;Z!]_/:\>QU&Q{ H
Total :-
125.00
120.04
1.33
314.84
434.33
19.54
458.42
1,473.50
4,766.15
2,210.90
39.05
6.73
29.94
355.66
1,540.00
6.97
8,955.40
1,473.50
1,524.69
-
8,955.40
3,657.18
-
16 INVENTORIES
Particulars
Raw Materials
Construction Work in Progress
Other Work in Progress
^Y <
Inventory Building Under Development
>{
/&
Goods In Transit
Total :
(`V_
As At 31-Mar-15 As At 31-Mar-14
2,987.16
3,558.13
40,254.29
36,725.83
53.39
20.59
184.21
3,318.32
10.17
29.43
24,979.80
22,149.29
1,068.73
234.35
72,856.09
62,717.62
(`V_
As At 31-Mar-15 As At 31-Mar-14
21,851.00
1,990.82
4,898.47
443.06
28,297.23
17,848.87
4,002.13
21,851.00
119
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
Particulars
TDR :Opening Stock
Conversion of Assets to stock in Trade
Purchases
Sales
Closing Stock
Total :-
(`V_
As At 31-Mar-15 As At 31-Mar-14
298.29
113.18
185.11
28,482.33
602.83
304.54
298.29
22,149.29
(`V_
As At 31-Mar-15 As At 31-Mar-14
3,393.00
33,020.52
36,413.52
2,366.26
10,619.15
12,985.41
29.53
3.51
33.04
2.18
30.86
36,444.38
68.46
68.46
3.49
64.97
13,050.38
(`V_
As At 31-Mar-15 As At 31-Mar-14
329.04
-
385.70
14.06
1,179.54
74.90
2,442.93
4,043.07
267.71
2,246.91
4,098.10
486.43
2,077.00
9,449.19
267.71
486.43
1,920.78
166.38
2.96
3,147.48
42.00
210.13
2.73
120
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
19 SHORT TERM LOANS & ADVANCES
Particulars
Unsecured, considered good:
Advance recoverable in cash or kind or for value to be received
#YV <
#YV <
Trade Deposits ( EMD )
Unsecured, considered doubtful:
Advance recoverable in cash or kind or for value to be received
#YV:V =,]_
Advance Gratuity
Assets Held for Disposal
Total :
(`V_
As At 31-Mar-15 As At 31-Mar-14
8,956.05
348.76
73.42
325.34
4,388.17
3,220.24
21.88
117.06
12.70
48.26
383.91
15.23
95.07
10,148.44
7,857.65
(`V_
As At 31-Mar-15 As At 31-Mar-14
733.05
688.46
(0.00)
604.77
258.21
27.02
72.59
1,364.84
1,019.26
121
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
21 REVENUE FROM OPERATIONS
Particulars
a)
Contract Revenue
Closing work-in-progress
Add : Contract Receipts {(Refer Note No 28 (5) (a)
X<&H $QQ< &
b)
c)
d)
Sales
Gross Sales
XO,V
Toll Collections
Other Operating Revenue
Total :
Year Ended
31-Mar-15
(`V_
Year Ended
31-Mar-14
41,256.24
172,534.35
213,790.59
38,292.85
175,497.74
40,556.05
146,021.12
186,577.16
45,871.09
140,706.07
13,278.20
519.90
12,758.30
43,277.79
437.67
231,971.49
9,763.36
464.81
9,298.55
29,280.25
202.87
179,487.75
Year Ended
31-Mar-15
1,246.58
122.74
(`V_
Year Ended
31-Mar-14
1,719.50
76.99
17.51
919.44
35.25
561.58
2,903.09
94.33
515.04
565.73
2,971.59
122
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
23 OPERATING EXPENSES
Particulars
= <&O,<
Consumption of Construction Materials
Sub-Contracting Charges
Transport and Material Handling Charges
Repair to Machineries
Equipment / Machinery Hire Charges
V>
V O,<
HJ&
Technical Consultancy Charges
U=,
Contract Price Variations
Security Charges
Maintenance Cost for defect liability period
Resurfacing Obligation Cost
Project Monitoring Charges
Project Supervision Charges
Provision for Schedule Maintenance
Total :
Year Ended
31-Mar-15
647.86
68,745.35
66,868.48
1,823.61
1,471.17
463.80
6,032.07
1,389.16
467.69
797.74
3,233.69
131.17
627.81
1,584.50
76.06
21.00
111.76
5,086.69
159,579.62
(`V_
Year Ended
31-Mar-14
36,681.36
62,999.18
2,866.80
1,398.26
218.20
5,928.37
111.08
350.37
1,030.96
5,226.58
2,984.80
471.49
3,183.83
709.76
21.00
84.22
124,266.25
Year Ended
31-Mar-15
406.85
11,158.67
11,565.52
4,026.49
7,539.02
(`V_
Year Ended
31-Mar-14
718.34
5,303.28
6,021.62
406.85
5,614.77
Year Ended
31-Mar-15
7,167.58
250.01
123.77
(`V_
Year Ended
31-Mar-14
5,497.26
234.83
96.34
7,541.36
5,828.43
J
O,<
Total :
123
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
(i) Y>V& VV VV= < <
V
VHV &< Y
> VV V < V
V &>V <:V
Y>VV
by the employees. An amount of `"*!;V]Y |`")*V_V&
#VV VV
V V
(ii) ={
&
<> << < \
&
V< V
:V <
:
(iii) = << Y
< YOV<<HV QV
<=<
< VYV
Y
Y
&YV
Y&YV
<=
<,<
means of formulae which takes into account the Salary and the leave balance to the credit of the employees on the date
,
(iv) ^{YOVV \#Q";]UY_X
Particulars
As At
31-Mar-2015
Gratuity
Leave
424.50
169.46
33.94
13.39
110.87
80.49
16.90
5.58
(40.90)
(36.72)
593.31
210.42
479.83
40.73
55.27
16.90
505.85
(87.15)
(40.91)
26.74
40.91
(26.74)
492.48
(210.42)
530.19
13.17
59.08
(193.14)
59.78
(193.14)
110.87
80.49
33.97
13.42
40.73
67.20
0.11
(40.90)
(36.72)
144.90
48.61
8.00%
7.00%
1.00%
8.00%
8.00%
7.00%
1.00%
N.A.
(`V_
As At
31-Mar-14
Gratuity
Leave
334.62
153.11
26.77
12.24
94.28
64.50
15.74
9.38
15.43
56.41
424.50
169.46
366.39
40.33
2.27
78.24
15.74
471.46
(46.96)
15.43
58.33
(15.43)
(58.33)
424.50
(168.72)
471.46
46.96
(168.72)
46.96
(168.72)
0
94.28
64.50
26.77
12.24
29.85
67.20
2.28
15.43
56.41
73.49
27.95
8.00%
7.00%
1.00%
8.00%
8.00%
7.00%
1.00%
N.A.
124
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
26 FINANCE EXPENSES
Particulars
Year Ended
31-Mar-15
25,687.35
470.88
1,052.37
27,210.60
(`V_
Year Ended
31-Mar-14
12,355.23
215.02
783.73
13,353.97
Particulars
Year Ended
31-Mar-15
1,054.16
149.82
332.33
97.87
135.51
396.20
180.23
528.99
912.15
3.49
88.76
729.07
17.50
106.59
111.39
1,367.68
3,800.89
10,012.63
(`V_
Year Ended
31-Mar-13
807.65
105.78
336.78
80.77
12.19
332.94
149.71
465.34
923.76
93.44
8.69
29.86
7.20
75.97
82.42
811.99
1,238.64
5,563.13
Rent
U=,
Insurance
Printing and Stationery
#YO,<
=Y& YV
Communication
Vehicle Running Charges
&
>
&] _ > &=V
Bad Debts / Advances written off (net)
Y
^
^#YV
^V &>
Auditors' Remuneration
=>
V O,<
<>## V
Total :
125
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
28 Notes forming part of the Consolidated Accounts as on March 31, 2015
COMPANY OVERVIEW:
The Company is incorporated in 1993. It is presently in the business of Construction of infrastructure facilities on Engineering,
V V /]O_/<=
]/=_/
U, V
and Bitumen. The Company has promoted Controlled Special Purpose Entities (SPEs) for some of its projects. The SPEs
&
V&&YV
<
V VVY ,V V<,<
,<V
<
I.
PRINCIPLES OF CONSOLIDATION
a)
b)
=
V
<V <V QQ&
& $ Y
$
V ,<
& & <
VQ& <V VV VH#VV &]#_*"( >V
Statements issued by the Institute of Chartered Accountants of India.
c)
The Build, Operate and Transfer (BOT) contracts are governed by service concession agreements with government
]& _ = V V ,V & <V << YV V <
<<
&O] < _ H &= V U&,V&
V V V VH&V V YVU& <V<
:>U:"* YV
V #&V &&
V
OV
&,V&
V V V V<
VV VV
Accordingly, where work are sub-contracted to the holding company and fellow subsidiaries/ associates the intra group
V <& /=V V<
$
d)
In case of associates, where the Company directly or indirectly through subsidiaries holds more than 20% of equity,
investments in associates are accounted for using the equity method in accordance with Accounting Standard 23 on
#VV &
:Y # V >V :
Accountants of India. Investments in associate companies which have been made for temporary purposes have not been
considered for consolidation.
e)
The Company accounts for its share in the change on the net assets of the associates, post acquisition, after eliminating
<
&
V H < V ,
&
#VV , V<
VV &Y
the balance, based on available information.
f)
g)
#
< V
V<<&
VV &< V
$V
Y VVV < < <
V
statements. Based on the accounting policy of the holding company, amortization of intangible assets in the subsidiary
V < V < < < V= Y Y < <V
V ::
companies act 2013. Accordingly, amortization of `";+)ZV]_VV
V
VZ"*+";UQV <
Y,<V
done at consolidation level.
126
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
h)
=
V <$H #%]^_#%]/_
L+>|*++
and 2009 equity in both the subsidiaries to 51%. The dilution has taken place due to direct infusion of fresh equity into the
subsidiaries by a private equity investor at a premium. Hence, such amount of share premium is not eliminated has been
separately disclosed as Share Premium on Dilution of Subsidiary Shareholding.
i)
= <# $ V ]#_ V\ /: :
V :Y
&< ]::_/:V\:
V=]:=_:::=Y
referred to as Investors) have entered into a multi party agreement. Pursuant to this agreement the Company and Investors
Y V \
# YQ &
!!XZ)#
V <
H #,V
YY`";[;"V=,V
V<
< ^
% &Y
and surplus.
VH
actual results and estimates are recognized in the year in which the results are known.
b)
ii)
^<V < Y J^ H} <V
V:: <
Act, 2013.
d)
Intangible assets are carried at cost of acquisition less any subsidies or grants. These assets include all duties, non
,YV VV& V
< %&H#
India as per the Concession Agreement (which are directly attributable) for bringing assets into working conditions
for its intended use. Intangible assets include assets that are incidental for the purpose of Toll Collection and which
H Y
V V < >V & &Q
V&
capitalized and amortized over the life of the asset.
ii)
Intangible Asset, i.e. Right to Collect Toll, is amortised based on the actual toll collection in proportion to the
< V Y Y < <V
V::
<#V*+"Z V
reviewed at periodic intervals for consistency and appropriateness. Amortisation is revised in case there is a material
V& V=
VUY#
:&#V V
collection and completion of the construction period.
Investments
&:YV\ V :YV\ &
$Y
on the effective date of merger. Current Investments are valued at Cost or Market Value whichever is lower.
127
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
e)
Revenue Recognition
i)
Construction Contracts
Revenue from long term contracts / turnkey projects is recognized on percentage completion basis as prescribed
by AS-7 'Construction Contracts' issued by the Institute of Chartered Accountants of India. Materials sold under
=$ VV V J $ &VYV
V Y
for future foreseeable losses are fully provided for.
Claims and variations for escalations/damages are recognized only when accepted by the client. Claims under arbitration/
<VV V
HO,< VV V
:V
,<VVV VYV &<V VO,<<&
,
V< V $ VV V,<
ii)
Sales
< ]V&Y <&_V &
VHV&
,V<V <V:V <&
substantial obligations as per the agreements, revenue is recognised on the percentage of completion method of
accounting.
Inventory
i)
Inventory of construction / raw material is valued at cost or net realizable value whichever is lower. Cost includes
,,<V &&Y < V V Y&
>:>
ii)
Work in Progress in respect of construction contracts is valued on the basis of technical estimates and percentage
completion basis
{
!
i)
Provision for liabilities in respect of leave encashment is made on the basis of an actuarial valuation.
ii)
Provision for gratuity liability is made on the basis of Actuarial Valuation in respect of the Group Gratuity Policy
with an insurance company.
Borrowing Cost
Borrowing costs directly attributable to acquisition and construction of capital assets are capitalized till the asset is put
/ H&V V V V V V< VV& <
VV VH $< &# H&V V &,<H
they were incurred.
128
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
i)
j)
=V
&VVV ,V&<Y&
<VYV
=
ii)
The Company enters into derivative contracts to hedge against the risk of adverse movements in interest rates,
foreign currencies or value of the hedged items. All outstanding derivative instruments at close are marked to market
<
$ &
V &
#VV {
are accounted on realization.
k)
l)
Taxes on income
i)
ii)
^
, <
V
&
V H , V VV & V
reporting year that originate in one period and are capable of reversal in one or more subsequent periods. Deferred
, V & , V
V
reviewed as at each Balance Sheet date to reassess realization.
HV< H
VH\V
& &V H< & H
resources. Contingent assets are neither recognized nor disclosed.
The Company has been collecting toll on the project since the day the project work commenced Consequently, the cost
HV< &V < V
V
%#:#<
V V &
< Y V < V
VH V <
H $=V V%#:&
YV
H $V <V
VHV /
results, value of the work done has been capitalized.
129
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
3 AS - 16 Borrowing Cost
Interest Cost capitalized for qualifying asset during the year: `"[*L"LLV]`*+!!ZV_
4 AS - 17 Segment Reporting
= <
< & V V VVY/= V
{ &Y
$& VV
VY
<
&$
and returns and internal reporting systems.
( `V_
Primary Segment
Construction
BOT
Sales
Total
Contract
Revenue
175,935.41
43,277.79
12,758.30
231,971.49
(140,908.94)
(-29280.25)
(9,298.55)
(179,487.75)
Segment Results
23,467.35
11,686.96
3,189.94
38,344.26
(19,684.81)
(7,860.91)
(1,996.10)
(29,541.82)
Add : Unallocated Other Income
2,903.09
(1,732.95)
X VO,<
33,426.87
(17,332.59)
/
=,
7,820.48
(13,942.18)
X Y
=,
=,
8,541.85
(7,021.24)
^
=,
(788.28)
(136.46)
#X|=,
201.91
(5.08)
#
=,
(134.99)
(5,493.65)
Primary Segment
Construction
Contract
102,242.88
(69,327.57)
1,310,341.53
(1,220,437.11)
4,206.63
(4,555.94)
71,182.90
(69,935.10)
1,184,945.13
(1,121,444.54)
1,599.35
(1,475.30)
31,059.98
125,396.40
2,607.28
(-607.54)
(98,992.56)
(3,080.63)
3,017.49
(2,126.92)
X>&V$
&
<Y
10,914.54
(11,173.33)
1,238.83
(590.35)
Segment Assets
BOT
Sales
Total
1,416,791.04
(1,294,320.61)
49,292.65
(57,505.04)
1,257,727.38
(1,192,854.95)
72,664.52
(34,176.16)
159,063.66
(101,465.66)
(23,371.87)
(23,328.87)
15,170.86
(13,890.61)
130
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
Note :
1 V V&#VYV <,V
&&V V < V < Y
civil and electrical engineering (on turnkey basis or otherwise) to core / infrastructure sectors.
2 /=#VY ,V
< V &V <&Y <& <&&
the Infrastructure facility.
3
{ V <VY
&
U, V]U_
H/
5 AS - 18. Related Party Transactions :
5.1 Parties were control exists (Subsidiaries)
}Y%&H
# $=V &Y
# $:
H
# $%&H]^&_
# $:
V
# $%&H]/_
Ashoka DSC Katni Bypass
# $/&^H= H
U
# $V Y
# $</&= H
# ${}U <U
5.2 Associates and Joint Ventures
## $:
VY
Ashoka Valecha - JV
Ashoka Bridgeways
{= H
Ashoka Infrastructures
Ashoka Highway Ad.
# $ V
Ashoka Cuttak Angul Tollway
Ashoka Dhankuni Kharagpur
= H
}Y:
V
Cube Ashoka - JV
& = U Y
{}U# $UU
5.3 Other parties with whom the Company has entered into transaction (s) during the year
A Key Management Personnel
Ashok M. Katariya
Satish D. Parakh
B
'
`
"
# $/H^Y <Y
H#& >
Ashoka City Tower
V Y
# $/]$_Y
# $OV >
# $<#$Y
# $ HY
Ashoka Vastu Vaibhav
Ashoka Vastukala Nirman Pvt.
Ashoka E-Tech
# $/ &Y
Ashoka Housing Construction
Y
Ashoka Township ( AOP )
C Directors and Their Relatives.
# $z]%>_
Ashish A. Katariya
$]%>_
Astha A. Katariya
Asha A. Katariya
##
131
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
Sr.
No.
( `V_
Enterprises in which
Key Management
Or Directors have
&
VV
1,434.74
(17,804.79)
20,189.41
(-)
-
(-)
-
(-)
-
(40,317.68)
63,995.44
(-)
-
(-)
-
(-)
-
(56,131.23)
225.07
- (3,227.63)
-
(-)
(-)
-
(-)
(-)
-
(-)
(-)
-
(-)
(-)
(-)
(844.60)
168.46
(427.03)
26,874.51
(7,048.93)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
45.31
(57.66)
(-)
(-)
(2.55)
(-)
(-)
(-)
(-)
(147.36)
(-)
(-)
(-)
(-)
-
(-)
86.55
(-)
-
(-)
-
(13.16)
-
(-)
(-)
(390.00)
741.56
(601.76)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
3.00
(3.00)
3.00
(1.80)
306.01
{}U# $UU
(b) Share Application Money Paid :
Ashoka GVR Mudhol Nipani Roads
Directors
Relatives
132
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
Sr.
No.
Satish D. Parakh
Astha A. Katariya
Aditya S. Parakh
Ashish A. Katariya
Milapraj Bhansali
(g) Rent Paid :
Ashok M. Katariya
Satish D. Parakh
^$]%>_
Asha A. Katariya
Ashish A. Katariya
Astha A. Katariya
Shweta A. Katariya
(h) Interest Paid :
Abhijeet Ashoka Infrastructure Pvt.
(i) Investment in Equity Share Capital
/ Capital :
{}U# $UU
(j) Loan / Advances Given :
Jaora Nayagaon Toll Road Company
Y
{= H
( `V_
Parties were Associates
Key
Directors Enterprises in which
control
and Joint Management Relatives
Key Management
,
Ventures
Personnel
Or Directors have
(Subsidiaries)
&
VV
(-)
(-)
(265.52)
(-)
(-)
311.35
(-)
(-)
(265.52)
(-)
(-)
18.88
(-)
(-)
(-)
(15.83)
(-)
20.46
(-)
(-)
(-)
(13.92)
(-)
176.17
(-)
(-)
(170.80)
(-)
(-)
74.58
(-)
(-)
(-)
(36.78)
(-)
61.92
(-)
(-)
(9.21)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
0.09
6.00
(6.00)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
3.00
(3.00)
6.00
(6.00)
4.92
(5.08)
1.32
(1.32)
1.20
(1.20)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
324.50
(-)
(294.50)
(-)
(-)
(-)
4,697.50
(-) (4,752.80)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(600.00)
(921.60)
(-)
(-)
(-)
(-)
133
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
Sr.
No.
Directors
Relatives
( `V_
Enterprises in which
Key Management
Or Directors have
&
VV
11,591.88
(-)
(-)
(-)
(-)
(-)
(-)
(18,000.00)
4,508.00
(3,920.00)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
45.01
(63.94)
41.10
(59.28)
21.76
(28.98)
(-)
(-)
3.53
(4.18)
(-)
(-)
(-)
3.52
(0.83)
1.00
(0.38)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
-
(111.19)
156.08
(-)
-
(-)
-
(-)
-
(-)
(89.81)
(-) (6,250.00)
(-)
(-)
(-)
(-)
(-)
(-)
3,159.10
(-) (2,867.05)
(-)
(-)
(-)
95.56
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(96.10)
1.87
(1.85)
134
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
Sr.
No.
(-)
-
Directors
Relatives
( `V_
Enterprises in which
Key Management
Or Directors have
&
VV
70.34
(49.27)
381.52
(-)
-
(-)
-
(-)
-
(-) (1,357.42)
22.20
(-)
(15.47)
445.42
(-)
(782.35)
(-)
(21.35)
2,211.70
(-) (6,141.97)
4.70
(-)
(-)
(-)
(-)
(-)
-
(-)
(-)
(-)
(-)
(-)
-
(-)
(-)
(-)
(-)
(-)
-
(-)
(4.40)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
-
(-)
(-)
(-)
(-)
(-)
141.94
40.00
(40.00)
(-)
(-)
(-)
-
(-)
20.00
(20.00)
40.00
(40.00)
21.50
(21.50)
1.00
(1.00)
- 8,217.27
(-) (6,048.25)
-
(-)
(-)
(-)
(-)
(-)
(-)
-
(-) (2,951.00)
(-)
(-)
(-)
(-)
2,211.70
(-)
(19.88)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
58.40
(143.40)
(93.85)
(-)
(-)
(-)
(-)
(6.89)
(-)
135
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
6 AS 19 Accounting for Operating Leases
The Company has various operating leases for equipments and premises, the leases are renewable on periodic basis and
cancelable in nature.
7 AS 20 Earning per Share
Particulars
O\ ]` in lacs)
No of Weighted Average Equity Shares outstanding during the period (Basic)
No of Weighted Average Equity Shares outstanding during the period (Diluted)
Nominal Value of Equity Shares (in `.)
Basic Earnings per Share (in `) (Basic)
Basic Earnings per Share (in `) (Diluted)
Year Ended
31-Mar-15
8,148.27
158,142,646
158,659,859
5
5.15
5.14
Year Ended
31-Mar-14
9,744.92
157,953,090
158,820,039
5
6.17
6.14
8 AS 29 Details of Provisions
Particulars
Y
^J
Provision for Resurfacing Obligations
Provision for Doubtful Debts
Provision for Doubtful Advances
Opening
5,396.66
(5,120.31)
7,567.81
(5,166.66)
241.85
(31.05)
304.40
(323.94)
Provisions
made during
the year
1,584.50
(1,401.63)
5,162.82
(2,491.96)
88.76
639.74
(29.86)
Provisions
Reversed /
Adjusted
733.39
(1,125.28)
1,949.54
(90.81)
(1.96)
(210.80)
(88.77)
(49.40)
( `V_
Closing
6,247.77
(5,396.66)
10,781.09
(7,567.81)
332.57
(241.85)
1,032.90
(304.40)
136
Notes Of The Consolidated Financial Statements For Year Ended March 31, 2015
9 Additional information, as required under Schedule III of the Companies Act 2013, of enterprises consolidated as
Subsidiaries
Sr.
Name of the Enterprises
Net Assets i.e.total assets
No.
minus total liabilities
As % of
Amount
As % of
Amount
consolidated (`In Lakhs) consolidated (`In Lakhs)
net assets
Parent
# $/V
3.92%
7,296.71
48.66%
3,501.13
Subsidiaries
1 }Y%&H
6.80%
12,653.05
82.04%
8,347.72
2 # $:
H
2.52%
4,696.77
8.64%
693.26
3 Ashoka Infrastucture
-0.04%
(81.12)
3.89%
155.45
4 # $:
V
0.50%
939.12
-0.56%
(857.85)
5 Ashoka Highway Add
0.10%
191.77
1.47%
143.77
6 # $^z
2.12%
3,953.75
7.44%
55.64
7 # $%&H]^&_
7.61%
14,163.22
14.34%
1,549.09
8 # $%&H]/_
3.75%
6,986.80
12.19%
1,550.97
9 # $Q Y
0.13%
246.50
-1.27%
(144.60)
10 # $=V &Y
0.03%
49.23
-0.17%
(23.16)
11 # $/&^H= H
10.15%
18,895.25
-22.05%
(1,815.74)
12 # $</&= H
19.65%
36,584.52
-1.19%
(2,622.77)
13 # $^$z&<= H
34.29%
63,827.50
0.00%
462.42
14 # $ V
-16.98%
(31,615.63)
-49.18%
(2,639.64)
15 # $V$#&= H
-0.09%
(175.79)
-4.15%
(174.93)
16 }Y:
V
-1.70%
(3,171.80)
-0.02%
(30.16)
17 # ${}U <U
0.14%
251.93
-0.06%
(2.36)
Minority
27.11%
50,474.81
Total :100.00%
186,166.59
100.00%
8,148.27
X= Y
&
&& <V & <VZ"V*+";
10 = <&=O< Y>#V
V&&< Y
subsidiaries and group companies.
11 /V
^ #YV^< VV V
V V
12 >&<& V < YYV
HYV &
HV <
V
13 Y
&Y& <&HYV $V <HV
&
As per our report of even date attached
For M.P. CHITALE & Co.
#VV
(Murtuza Vajihi)
'
Place : Mumbai
Date : May 13, 2015
(Paresh C. Mehta)
|
(Satish D. Parakh)
`
Place : Mumbai
Date : May 13, 2015
(Ashok M. Katariya)
|
137
ATTENDANCE SLIP
CIN: L45200MH1993PLC071970
U&
VX !"# $% # $&$()**+""
O#O>:#==O^#O:#^%#^:=}OU#==%OO=U#O>=%OOO=:{%#
Joint Shareholders may obtain additional Slip at the venue of the meeting
DP Id*
>
Client Id*
No. of Shares
FORM NO.MGT-11
PROXY FORM
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Name of the member(s)
e-mail Id:
Registered Address
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I/We, being the holder/s of
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1)
of
having e-mail id
or failing him
2)
of
having e-mail id
or failing him
3)
of
having e-mail id
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**nd
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Phata, Mumbai - Agra Road, Nasik 422 010. and at any adjournment thereof in respect of such resolutions as are indicated below:
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Particulars
Consider and adopt :
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` 5/- each
3. Appointment of Shri. Ashok M. Katariya as a Director, liable to retire by rotation
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1.
For
Against
138
----------------------------------------------------------------------CUT HERE----------------------------------------------------------------------Particulars
Re-appointment of Mr. Ashok M. Katariya as Whole-time Director of the Company,
&
<
Y];_
6. Re-appointment of Mr. Satish D. Parakh as Managing Director of the Company, for a
<
Y];_
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8. Revision of the remuneration payable to Mr. Milapraj Bhansali as the Whole-time
Director of the Company w.e.f. April 1, 2015 to March 31, 2016
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10. Consent for material related party transactions / contracts / arrangements entered into
by the Company with Related Parties on or before March 31, 2014 (upto April 17,
*+")_V &
,V < VZ"*+";
For
Against
5.
#
,
One Rupee
Revenue
Stamp
&
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,
NOTES
139
140
NOTES