Afcon Book.indd - Afcons Infrastructure Ltd.

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CONSOLIDATED FINANCIAL STATEMENT OF AFCONS INFRASTRUCTURE LIMITED AND ITS SUBSIDIARIES,ASSOCIATED AND JOINT VENTURES (AFCONS GROUP)CONSOLIDATED BALANCE SHEET AS AT 31ST MARCH, 2010As at31st MARCH, 2009SCHEDULE Rupees in Lacs Rupees in Lacs Rupees in LacsI. SOURCES OF FUNDS(1) Shareholders’ Funds(a) Share Capital 1 42,170.05 42,140.44(b) Reserves and Surplus 2 25,732.82 16,422.65(c) Share Application Money - Pending Allotment 0.18 -67,903.05 58,563.09(2) Minority Interest 448.44 73.72(3) Loan Funds(a) Secured Loans 3 25,207.01 31,923.68(b) Unsecured Loans 4 30,565.99 37,127.7255,773.00 69,051.40(4) Deferred Tax Liability (net) 4,443.58 4,344.83Total 128,568.07 132,033.04II.APPLICATION OF FUNDS(1) Fixed Assets: 5Gross Block 60,419.14 59,583.29Less: Depreciation/Amortisation (22,434.64) (20,947.82)Net Block 37,984.50 38,635.47Capital Work in Progress 1,683.82 1,978.2839,668.32 40,613.75(2) Goodwill on Consolidation 15.50 15.50(3) Investments 6 40.55 69.84(4) Current Assets, Loans and AdvancesInventories 7 14,097.70 20,768.65Unbilled Revenue ((net of advance of Rs.13,951.35 lacs(Previous year Rs.18,552.45 lacs)) 53,796.12 70,454.58Sundry Debtors 8 63,036.84 33,730.26Cash and Bank Balances 9 17,955.30 9,213.46Loans and Advances 10 13,876.08 10,022.00162,762.04 144,188.95Less:Current Liabilities and Provisions:Liabilities 11 72,602.63 51,480.35Provisions 12 1,315.71 1,555.3373,918.34 53,035.68Net Current Assets 88,843.70 91,153.27(5) Miscellaneous Expenditure(to the extent not written off or adjusted)Deferred Revenue Expenditure - 180.68Significant Accounting Policies and Notes on Accounts 19Total 128,568.07 132,033.04In terms of our report attachedFor and on Behalf of the Board of DirectorsFor Deloitte Haskins & SellsChartered Accountants K.Subrahmanian S.ParamasivanManaging DirectorExecutive Director(Finance & Commercial)R. Laxminarayan J.C. BhattPartnerChartered AccountantPlace: Mumbai,Dated: 17 th June, 2010P.R.RajendranCompany Secretary100
CONSOLIDATED FINANCIAL STATEMENT OF AFCONS INFRASTRUCTURE LIMITED AND ITS SUBSIDIARIES,ASSOCIATED AND JOINT VENTURES (AFCONS GROUP)CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 st MARCH, 2010Previous YearSCHEDULE Rupees in Lacs Rupees in Lacs Rupees in LacsI. INCOME :Income from Operations 13 228,222.75 213,948.36Other Income 14 4,034.69 3,474.00Total 232,257.44 217,422.36II EXPENDITURE :Cost of Construction/Materials 15 148,617.79 156,669.33Payments to and Provision for employees 16 23,644.39 21,652.87Other Expenses 17 35,155.14 17,610.44Financial Lease Rentals - 8.73Interest and Financial charges 18 8,801.05 9,775.82Depreciation / Amortisation 3,468.92 3,075.36Less : Depreciation on the amount added on Revaluationtransferred from Revaluation Reserve (85.40) (86.28)3,383.52 2,989.08Total 219,601.89 208,706.27Profit Before Tax 12,655.55 8,716.09Provision for Taxation:Current Tax (2,456.68) (1,905.54){Including Rs 0.30 lacs (previous period Rs.0.40 lacs) for Wealth Tax}Deferred Tax (98.75) (672.44)Fringe Benefit Tax - (140.25)Foreign Taxes (350.74) (118.81)Excess Provision for Tax in respect of earlier years (1.29) 139.56(2,907.46) (2,697.48)Profit after Taxation before Minority Interest 9,748.09 6,018.61Minority Interest (387.36) (9.87)Profit after Tax and Minority Interest 9,360.73 6,008.74Balance Brought Forward from Previous Year 9,174.78 3,182.63Amount available for appropriations 18,535.51 9,191.37APPROPRIATIONS: 9,356.65Transfer to Capital Redemption Reserve Account - (12.50)Proposed Dividend on Preference Shares (3.50) (3.50)Tax on Dividend (0.59) (0.59)Balance Carried to Balance Sheet 18,531.42 9,174.78Basic Earnings per share (Face value Rs.10) 13.09 8.41Diluted Earnings per share (in Rs.) 2.78 1.79(Refer Note 14 of Schedule 19(III) )Significant Accounting Policies and Notes on Accounts 19In terms of our report attachedFor and on Behalf of the Board of DirectorsFor Deloitte Haskins & SellsChartered Accountants K.Subrahmanian S.ParamasivanManaging DirectorExecutive Director(Finance & Commercial)R. Laxminarayan J.C. BhattPartnerChartered AccountantP.R.RajendranCompany SecretaryPlace: Mumbai,Dated: 17 th June, 2010101
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AFCONS INFRASTRUCTURE LIMITEDDIRECT
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AFCONS INFRASTRUCTURE LIMITED12. AW
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AFCONS INFRASTRUCTURE LIMITEDB. Oth
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AFCONS INFRASTRUCTURE LIMITEDSCHEDU
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AFCONS INFRASTRUCTURE LIMITEDSCHEDU
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AFCONS INFRASTRUCTURE LIMITEDiv) Co
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AFCONS INFRASTRUCTURE LIMITEDAssump
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AFCONS INFRASTRUCTURE LIMITEDDetail
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AFCONS INFRASTRUCTURE LIMITED17. Ma
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AFCONS INFRASTRUCTURE LIMITEDAdditi
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AFCONS INFRASTRUCTURE LIMITEDFINANC
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HAZARAT & COMPANY PRIVATE LIMITEDCO
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HAZARAT & COMPANY PRIVATE LIMITEDBA
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HAZARAT & COMPANY PRIVATE LIMITED7.
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