2009-10 Annual Report - SPML

SPML INFRA LIMITEDSPML INFRA LIMITED & ITS SUBSIDIARIES (formerly Subhash Projects and Marketing Limited)SCHEDULES FORMING PART OF THE CONSOLIDATED BALANCE SHEET AND PROFIT & LOSS ACCOUNT8. Based on the information / documents available with the Company, information as per the requirement of Section 22 of The Micro, Small andMedium Enterprises Development Act, 2006 are as under:(Rs.’000)2009-10 2008-09(i) Principal amount remaining unpaid to suppliers at the end of accounting year 15,439 8,160(ii) Interest due on above 224 67Total of (i) & (ii) 15,663 8,227(iii) Amount of interest paid by the Company to the suppliers Nil Nil(iv) Amounts paid to the suppliers beyond the respective due date 12,655 21,694(v) Amount of interest due and payable for the period of delay in payments (which have been paid 1,004 1,300beyond the due date during the year) but without adding the interest specified under the Act.(vi) Amount of interest accrued and remaining unpaid at the end of accounting year 4,379 3,151(vii) The amount of further interest remaining due and payable even in the succeeding years, until such 1,228 1,367date when the interest dues as above are actually paid to the small enterprise for the purpose ofdisallowance as a deductible expenditure under section 23 of the Micro Small and Medium EnterpriseDevelopment Act, 20069. Derivatives outstanding as at Balance Sheet date(In ‘000)Amount in Foreign CurrencyParticularsCurrencyAs at March 312010 2009Forward Contracts (Payable) USD 5,000 -EURO 880 -Note: All the above contracts are for hedging and not for speculation10. Construction contracts disclosureInformation relating to Construction contracts as per Accounting Standard 7 (Revised) issued by The Institute of Chartered Accountants of Indiaare given below:(Rs. in ’000)2009-10 2008-09Contract income recognized as revenue during the year 13,241,147 12,314,275Aggregate amount of costs incurred and recognized profits (less recognized losses) till date 46,257,074 33,267,605Advances received (unadjusted) 1,555,547 1,875,345Retention amount 1,569,952 1,940,882Gross amount due from customers for contract work 4,804,978 4,191,541Gross amount due to customers for contract work 373,601 292,29211. The Company had entered into an agreement in the past to sell 15 nos. of Windmills and an advance of Rs.99000 thousands was received thereagainst. Since the above assets are hypothecated with a nationalised bank against loans obtained from them, the Company could not transfer theseassets to the buyer. Accordingly, no adjustment has been made in the accounts for the above sale of assets and the same would be carried out indue course. The income and expenses in relation to these assets continue to be accounted for in the Company’s Books.12. The Company and certain subsidiaries are in the process of obtaining confirmations with respect to its debtors, creditors and advances.Adjustments, if any, arising out of such confirmations will be considered in subsequent period.102