2009-10 Annual Report - SPML

ANNUAL REPORT 2009-10SPML INFRA LIMITED & ITS SUBSIDIARIES (formerly Subhash Projects and Marketing Limited)SCHEDULES FORMING PART OF THE CONSOLIDATED BALANCE SHEET AND PROFIT & LOSS ACCOUNT3. The Company has operating leases for office premises that are renewable on a periodic basis and are cancelable by giving a notice period rangingfrom one month to three months. There is no escalation clause in the lease agreement. There are no restrictions imposed by lease arrangements.There are no subleases.The amount of rent expenses included in Profit and Loss Account towards operating Leases aggregate to Rs. 84,386 thousands (Rs. 70,880thousands).4. In terms of Accounting Standard - 22, net deferred tax liability (DTL) of Rs. 130,176 thousands (after adjusting Rs. 38,179 thousands during theyear) has been recognized in the accounts up to 31st March 2010.The break-up of DTL is as follows:(Rs.’000)ParticularsDeferred Tax LiabilityAs at31st March 2010As at31st March 2009On timing differences of depreciable assets 67,764 80,861On retentions by the customers 110,649 154,927Deferred Tax AssetsCarry forward of Losses 3,645 8Expenses allowable against taxable income in future years 44,592 67,425Deferred Tax Liability (Net) 130,176 168,3555. The break up of Earnings per Share (EPS) in terms Accounting Standard 20 is as follows:Rs. (‘000)Particulars 2009-10 2008-09Profit after Minority Interest462,389 564,387Weighted average number of equity shares outstanding during the period 36,650,276 36,650,276Nominal value per share (Rs.) 2.00 2.00Basic and Diluted EPS (Rs.) 12.62 15.406. In compliance with Accounting Standard - 17 - ‘Segment Information’ notified pursuant to the Companies (Accounting Standards) Rules, 2006 (asamended) in respect of Business Segment are as follows:Business segment : The business segments have been identified on the basis of the activities undertaken by the company. Accordingly, thecompany has identified the following business segments.Construction – Consists of execution of turnkey projectsWind Power – Consists of electricity generated from wind farms.Hydro Power Generation – Consists of electricity generated from hydel projects and buying energy from seller/surplus power producers andselling to buyer/deficit state utilities.Others – Consist of manufacturing of pipes, management of waste, other utility management and trading activities.91