Afcon Book.indd - Afcons Infrastructure Ltd.

HAZARAT & COMPANY PRIVATE LIMITEDSCHEDULE `A’NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 ST MARCH 2010.1. Significant Accounting Policiesi. The financial statement have been prepared on accrual basis and under historical cost convention to comply in all material respectswith mandatory Accounting Standards issued by the Institute of Chartered Accountants of India and the relevant provisions ofthe Companies Act, 1956.ii.Basic Earning per Share is calculated by dividing the net profit or loss for the year attributable to the equity shareholders (afterdeducting attributable taxes) by the weighted average number of shares outstanding during the year.2. Notes on Accounts1. The assets have been taken over from Hazarat & Company in terms of an agreement dated 26 th July, 1983.2. All the Equity Shares are held by Afcons Infrastructure Limited and it’s nominees.3. There has been no Income, Expenditure, Receipts or Payments in Foreign Currency during the Current or Previous year.4. Related party where control exists:Related Party disclosureHolding company(s)Afcons Infrastructure Limited (directly)Shapoorji Pallonji & Company Limited (indirectly)Fellow SubsidiarySSS Electricals (India) Private LimitedAfcons Offshore and Marine Services Private LimitedAfcons Construction Mideast LLCAfcons Infrastructure International LimitedName of Related Party where transactions have taken place during the year:Afcons Infrastructure LimitedDetails of transactions with related party during the yearParticulars of transactions with Afcons Infrastructure LimitedRupeesIncome :Rent 1,20,000Expenditure :Interest expense incurred for the yearNil5. Earnings per share:Earning per share is calculated by dividing the (loss)/profit attributable to the equity shareholders by the weighted average number ofequity shares outstanding during the year as under:-Current YearPrevious YearProfit / (Loss) attributable to equity shareholders (in Rupees) 18,770 14,027Weighted average number of shares outstanding during the year 202610 202610Basic / diluted Earnings per share (in Rupees) 0.06 0.05Nominal value per share (in Rupees) 10 106. Previous year’s figures have been re-arranged wherever necessary.Signatures to Schedule `A’As per my report of even date,For and behalf of Board of DirectorsJ. C. Bhatt A.H. DIVANJI F.K. BHATHENA H.J. TAVARIAChartered Accountant Director Director DirectorPlace : MumbaiDated : 17 th June, 201046